GOLD CLOSED DOWN $19.80 TO $3,369.90

SILVER CLOSED DOWN $0.83 TO $36.04

GOLD ACCESS CLOSED $3369.15

Silver ACCESS CLOSED: $36.06

Bitcoin morning price:$105977 UP 1760 DOLLARS.

Bitcoin: afternoon price: $103131 DOWN 1086 DOLLARS

Platinum price closing DOWN $48.50 TO $1271.10

Palladium price; DOWN $0.45 TO $1053.25

END

*CANADIAN GOLD: $4,625.76 UP 18.20 CDN dollars per oz( * NEW ALL TIME HIGH $4735.70 CDN DOLLARS PER OZ//APRIL 21 2025)

*BRITISH GOLD: 2502.65 DOWN 8.30 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING//2,566.50 BRITISH POUNDS/OZ) MAY 6/2025

*EURO GOLD: 2927.57 DOWN 7.30 Euros per oz //* (ALL TIME CLOSING HIGH: 3018.80 EUROS PER OZ/ APRIL 21 //2025)

EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: JUNE 2025 COMEX 100 GOLD FUTURES
SETTLEMENT: 3,389.800000000 USD
INTENT DATE: 06/18/2025 DELIVERY DATE: 06/23/2025
FIRM ORG FIRM NAME ISSUED STOPPED

332 H STANDARD CHARTERED B 824
435 H SCOTIA CAPITAL (USA) 2
661 C JP MORGAN SECURITIES 1440 577
686 C STONEX FINANCIAL INC 1
690 C ABN AMRO CLR USA LLC 4 1
880 C CITIGROUP 11
905 C ADM 28

TOTAL: 1,444 1,444
MONTH TO DATE: 28,604

JPMORGAN STOPPED 79/260

JUNE

GOLD: NUMBER OF NOTICES FILED FOR JUNE/2024: 1444 CONTRACTs NOTICES FOR 144,400 OZ  or 4.4914 TONNES

total notices so far: 28,604 contracts for 2,860,400 OR 88.970 tonnes)

FOR JUNE

XXXXXXXXXXXXXXXXXX

SILVER NOTICES: 1 NOTICE(S) FILED FOR 5,000 OZ/

total number of notices filed so far this month : 3245 CONTRACTS (NOTICES) for 16.475 million oz

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END

GLD/

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL

THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.

WITH GOLD DOWN $19.80 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD:

HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.43 TONNES OF GOLD FROM THE GLD

INVENTORY RESTS AT 947.641 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER DOWN $0.83 AT THE SLV: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: ///A DEPOSIT OF 2.818 MILLION OZ INTO THE SLV//

CLOSING INVENTORY RESTS AT:

CLOSING INVENTORY: 474.641 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A FELL FAIR SIZED 349 CONTRACTS TO 184,482 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS  FAIR SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR LOSS OF $0.20 IN SILVER PRICING AT THE COMEX WITH RESPECT TO WEDNESDAY’S TRADING AND WE FINALLY HAVE THE PIERCING OF $34.40 TO 34.50 SILVER PRICE BARRIER.  WE HAD A HUGE SIZED GAIN OF 978 TOTAL CONTRACTS ON OUR TWO EXCHANGES AS THE CME NOTIFIED US OF A MEGA HUGE 1384 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE.. WE HAD SOME LIQUIDATION OF T.A.S. CONTRACTS COMEX TRADING WITH RESPECT TO WEDNESDAY’S TRADING AS THEY DESPERATELY AGAIN TRIED TO CONTAIN SILVER’S PRICE RISE FOR THE PAST SEVERAL WEEKS (WHERE RAIDS ARE CALLED UPON AGAIN AND AGAIN TRYING TO STOP THE RISE IN SILVER’S PRICE TO ABOVE $34.40 AND TO QUELL ADDITIONAL DERIVATIVE LOSSES TO OUR BANKERS’ MASSIVE TOTALS). THEY SUCCEEDED ON WEDNESDAY WITH SILVER’S LOSS IN PRICE. THE PRICE FINISHED MILES ABOVE THE MAGIC NUMBER OF $34.40 SILVER SPOT PRICE CLOSING AT $36.78. . BUT WE ENDED OUR MEGA MEGA HUGE T.A.S. ISSUANCE WITH WEDNESDAY NIGHT’S  300 CONTRACTS ISSUED BY THE CME AND THAT STILL SIGNALS DEEP CODE RED THAT THE CROOKS ARE DESPERATE TO STOP SILVER BREAKING WELL ABOVE THE 34.40 DOLLAR MARK!!. THE NEXT LINE IN THE SAND IS THE ORIGINAL HIGH POINT OF 50.00 DOLLAR SILVER. WE HAD A MEGA HUGE  1327 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR FAIR SIZED 300 CONTRACT T.A.S ISSUANCE WHICH WILL BE USED IN WEDNESDAY’S TRADING/ AS THEY PLAY AN INTEGRAL PART IN OUR COMEX TRADING TRYING TO CONTAIN ANY SILVER PRICE RISE. IN ESSENCE WE GAINED A HUGE SIZED 978 CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR LOSS IN PRICE OF $0.20. 

THE CME NOTIFIED US THAT FOR THE FIRST TWO DAYS OF THE MONTH OF MAY, WE HAD TWO CONSECUTIVE ISSUANCE OF EXCHANGE FOR RISK CONTRACTS OF 12.93 MILLION OZ. THESE EXCHANGE FOR RISKS WERE ADDED TO OUR NORMAL DELIVERY SCHEDULE. THE RECIPIENT OF THIS LARGESS IS WITHOUT A DOUBT THE CENTRAL BANK OF INDIA. LOGICALLY ONLY A CENTRAL BANK WOULD ACCEPT THIS CRAZY CONTRACT WHEREBY THE CENTRAL BANK OF INDIA TAKES THE RISK OF DELIVERY FROM A BULLION BANK WHO CANNOT GUARANTEE DELIVERY OF PHYSICAL SILVER TO THEM.

PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S ESPECIALLY SILVER IS NOW USED TO TEMPER OUR SILVER PRICE RISE OR INITIATE A RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN WITH LAST WEEK’S TRADING ON SILVER AND NOW TODAY AS SILVER PRICE ROCKETED PAST THE $34.40 BARRIER! . THE PRICE OF SILVER FINISHED TRADING AT $36.56 AS WE WILL NOW HEAD FOR THE ALL TIME HIGH OF $50.00

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE.  THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS:  1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON WEDNESDAY NIGHT/THURSDAY MORNING: A FAIR 300 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE  OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES.

WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023//  OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY  $0.20) AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A HUGE GAIN OF 978 CONTRACTS ON OUR TWO EXCHANGES.

WE HAD A 1327 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 9.90 MILLION OZ FOLLOWED BY TODAY’S 55,000 OZ QUEUE JUMP//NEW TOTAL STANDING ADVANCES TO 16.810 MILLION OZ!!

THUS:

INITIAL STANDING FOR JUNE: 9.90 MILLION OZ PLUS TODAY’S 55,000 OZ QUEUE JUMP = 16.810 MILLION OZ.

WE HAD:

/ FAIR COMEX OI LOSS+// A 1327 SIZED  EFP ISSUANCE (/ VI)  A FAIR NUMBER OF  T.A.S. CONTRACT ISSUANCE 300 CONTRACTS)

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED A SMALL 27 CONTRACTS.

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS JUNE. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF MAY

TOTAL CONTRACTS for 14 DAY(S), total 13,320 contracts:   OR 66.600 MILLION OZ  (951 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  66.600 MILLION OZ

LAST 24 MONTHS TOTAL EFP CONTRACTS ISSUED  IN MILLIONS OF OZ:

MAY 137.83 MILLION

JUNE 149.91 MILLION OZ

JULY 129.445 MILLION OZ

AUGUST: MILLION OZ 140.120

SEPT. 28.230 MILLION OZ//

OCT:  94.595 MILLION OZ

NOV: 131.925 MILLION OZ

DEC: 100.615 MILLION OZ

YEAR 2022:

 JAN 2022-DEC 2022

JAN 2022//  90.460 MILLION OZ

FEB 2022:  72.39 MILLION OZ//

MARCH 2022: 207.140  MILLION OZ//A NEW RECORD FOR EFP ISSUANCE

APRIL: 114.52 MILLION OZ FINAL//LOW ISSUANCE

MAY: 105.635 MILLION OZ//

JUNE: 94.470 MILLION OZ

JULY : 87.110 MILLION OZ

AUGUST: 65.025 MILLION OZ

SEPT. 74.025 MILLION OZ///FINAL

OCT.  29.017 MILLION OZ FINAL

NOV: 134.290 MILLION OZ//FINAL

DEC, 61.395 MILLION OZ FINAL

TOTALS YR 2022: 1135.767 MILLION OZ (1.1356 BILLION OZ)

JAN 2023///   53.070 MILLION OZ //FINAL

FEB: 2023:       100.105 MILLION OZ/FINAL//MUCH STRONGER ISSUANCE VS THE LATTER TWO MONTHS.

MARCH 2023:  112.58 MILLION OZ//FINAL//STRONG ISSUANCE

APRIL  111.035 MILLION OZ(SLIGHTLY GREATER THAN THAN LAST MONTH)

MAY 66.120 MILLION OZ/INITIAL (MUCH SMALLER THIS MONTH)  

JUNE: 110.395 MILLION OZ//MUCH LARGER THAN LAST MONTH

JULY 85.745 MILLION OZ (SMALLER THAN LAST MONTH)

AUGUST: 171.43 MILLION OZ (THIS MONTH IS GOING TO BE HUGE //2ND HIGHEST ON RECORD

SEPT: 72.705 MILLION OZ (SMALLER THIS MONTH)

OCT: 97.455 MILLION OZ

NOV.  50.050 MILLION OZ 

DEC. 66.140 MILLION OZ//

TOTAL 2023: 1,104.10 MILLION OZ/

JAN ’24 : 78.655 MILLION OZ//

FEB /2024 : 66.135 MILLION OZ./FINAL

MARCH: 143.750 MILLION OZ// 4TH HIGHEST ON RECORD.

APRIL: 161.770 MILLION OZ (THIS MONTH WILL BE A WHOPPER OF ISSUANCE OF EFPS//3RD HIGHEST EVER RECORDED FOR A MONTH)

MAY: 135.995 MILLION OZ  //WILL BE A STRONG MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE

JUNE 110.575 MILLION OZ ( WILL BE ANOTHER STRONG MONTH ISSUANCE)

JULY: 108.870 MILLION OZ (WILL BE A STRONG ISSUANCE MONTH/ A TOUCH OVER 100 MILLION OZ/)

AUGUST; 99.740 MILLION OZ//THIS MONTH WILL BE STRONG FOR ISSUANCE BUT LESS THAN JULY.

SEPT: 112.415 MILLION OZ//WILL BE A HUGE MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE

OCT; 97.485 MILLION OZ (WILL BE SMALLER ISSUANCE THIS MONTH )

NOV. 115.970 MILLION OZ ( HUGE THIS MONTH)

DEC: 132.54 MILLION OZ (THIS MONTH WILL BE A HUMDINGER FOR ISSUANCE BUT ISSUANCE SLOWED DRAMATICALLY THESE PAST FIVE DAYS/// WILL NOT EXCEED MARCH 2022 RECORD OF 209 MILLION OZ

YEAR 2024 TOTAL: 1363.84 MILLION OR 1.363 BILLION OZ

JANUARY 2025: 67.230 MILLION OZ///(THIS MONTH’S ISSUANCE OF EXCHANGE FOR PHYSICAL WILL BE SMALL)

FEB. 58.260 MILLION OZ//EXCHANGE FOR PHYSICAL ISSUANCE/FINAL

MARCH: 67.020 MILLION OZ///QUITE SMALL AND BECOMING SMALLER EACH AND EVERY MONTH.

APRIL: 100.895 MILLION OZ///AVERAGE SIZE ISSUANCE

MAY: 28.975 MILLION OZ (ISSUANCE WILL BE QUITE SMALL THIS MONTH)

JUNE: 66.600 MILLION OZ (NOTICE EFP ISSUANCE GETTING MUCH LARGER

XXXXXXXXXXXXXXXXXXXXXXXXXXXX

RESULT: WE HAD A FAIR SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 322 CONTRACTS WITH OUR LOSS IN PRICE OF $0.20 IN SILVER PRICING AT THE COMEX// WEDNESDAY.,.  . THE CME NOTIFIED US THAT WE HAD A HUGE 1327 CONTRACT EFP ISSUANCE  CONTRACTS: 1327 ISSUED FOR JULY AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH  EXITED OUT OF THE SILVER COMEX TO LONDON  AS FORWARDS. 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

WE FINISHED APRIL WITH A STRONG SILVER OZ STANDING OF  16.050 MILLION  OZ NORMAL DELIVERY , PLUS OUR 4.00 MILLION EX FOR RISK

FINAL STANDING APRIL: 19.965 MILLION OZ

AND MAY:

NEW STANDING FOR MAY FINISHES AT: 75.615 MILLION OZ. (INCLUDES 5,000 OZ EFP TRANSFER TO LONDON + 12.93 MILLION OZ EXCHANGE FOR RISK ISSUANCE/PRIOR.//NEW TOTAL STANDING 88.540 MILLION OZ

AND NOW JUNE: INITIAL 9.90 MILLION OZ PLUS 55,000 OZ QUEUE JUMP = 16.810 MILLION OZ

THE NEW TAS ISSUANCE WEDNESDAY NIGHT   (300 ) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND FOR SURE TODAY’S TRADING (THURSDAY TRADING) AND BEYOND.

WE HAD 1 NOTICE(S) FILED TODAY FOR 5,000 OZ

THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL. IT IS NOW TIME FOR THE FBI TO ENTER THE COMEX AND ARREST THESE CROOKS EVEN THOUGH THE MAJORITY OF THE TRADING IS GOVERNMENT. THE BANKERS ARE COMPLICIT

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A FAIR SIZED 1160 OI CONTRACTS  TO 442,374 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,105  AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. (ALL TIME LOW OF 390,000 CONTRACTS.) THUS WE HAVE A LOW OI IN COMEX WITH AN EXTREMELY HIGH PRICE OF GOLD. THE SHORT RATS ARE ABANDONING THE SHIP.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY:  REMOVED A HUGE 5945 CONTRACTS //.

WE HAD A FAIR SIZED INCREASE  IN COMEX OI (1160 CONTRACTS) . THIS OCCURRED DESPITE OUR SMALL GAIN OF $1.30 IN PRICE// WEDNESDAY///.

MAY: SUMMARY FOR MAY TONNES WHICH STOOD FOR DELIVERY:

FINAL STANDING FOR MAY: 70.174 TONNES OF GOLD TO WHICH WE ADD 1. MONDAY’S (MAY 19) 6.221 TONNES EXCHANGE FOR RISK , 2. THEN WE ADD: 1.35 TONNES TO LAST WEEK”S. THEN WE ADD 3. 1.55 TONNES TO EQUAL 9.591 TONNES// NEW EXCHANGE FOR RISK = 9.591 TONNES WHICH MUST BE ADDED TO OUR NORMAL DELIVERY SCHEDULE OF 80.644 TONNES. THUS STANDING FOR MAY INCREASES TO 90.235 TONNES OF GOLD

JUNE CONTRACT MONTH

/ WE HAD A  $1.30 GAIN IN PRICE  WITH RESPECT TO WEDNESDAY’S COMEX ///. WE HAD A FAIR SIZED GAIN OF 2544 OI CONTRACTS (7.912 PAPER TONNES) ON OUR TWO EXCHANGES, WITH MANY LONGS, REMAINING AT THE END OF THE DAY, TENDERING FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE, MUCH TO THE ANGER AND HORROR EXHIBITED BY OUR MAJOR BANKER, THE FEDERAL RESERVE BANK OF NEW YORK. THE HORROR INTENSIFIED ONCE LONDON STARTED TO TRADE DURING THE FIRST THREE WEEKS OF MAY, AND THROUGHOUT EACH AND EVERY DAY MAJOR TENDERING FOR PHYSICAL VIA THE EXCHANGE FOR PHYSICAL ROUTE! THE RESULT: A SMALLER THAN EXPECTED INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY FOR THE JUNE CONTRACT MONTH….. A SMALLISH 62.534 TONNES TO WHICH WE ADD TODAY’S 4.4510 TONNES OF A QUEUE JUMP //NEW STANDING ADVANCES TO 89.536 TONNES!!. CENTRAL BANKERS ARE NOW WAITING PATIENTLY FOR THEIR DELIVERY OF GOLD VIA SLOW MOVING SHIPS.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 1384 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 442,374/NOW AT THE LOW END OF THE SCALE DESPITE THE HIGH PRICE OF GOLD!!

SILVER ALSO HAS A LOW COMEX OI OF 184,482 CONTRACTS BUT GAINING RAPIDLY!!

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 2544 CONTRACTS  WITH 1160 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 1384 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 2544 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A SMALL SIZED AND CRIMINAL 608 CONTRACTS

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS  CONTRACT(1389) ACCOMPANYING THE FAIR SIZED INCREASE IN COMEX OI OF 1160 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 2544 CONTRACTS..WE HAVE 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT  ,2.) WEAK INITIAL STANDING FOR GOLD FOR JUNE AT 62.524TONNES FOLLOWED BY TODAY’S 0.6065 TONNES QUEUE JUMP //NEW STANDING ADVANCES TO 90.081 TONNES./

NEW STANDING FOR GOLD, JUNE CONTRACT AT 90.081 TONNES OF GOLD.

.

 / 3) LITTLE IF ANY T.A.S. LIQUIDATION , AS WE HAD 1)A  $1.30 COMEX PRICE GAIN.. WE HAD 2) ZERO NET LONG SPECS BEING CLIPPED DESPITE THAT LOSS IN PRICE AS WE HAD A FAIR GAIN OF 8489 CONTRACTS ON OUR TWO EXCHANGES // /./ ALSO, 3)STICKY GOLD’S LONGS WERE REWARDED WEDNESDAY EVENING AS THEY EXERCISED EFP’S FROM LONDON TO TAKE DELIVERY OF BADLY NEEDED PHYSICAL AND THUS OUR HUGE TONNAGE STANDING FOR GOLD FOR MAY BUT SMALLER FOR JUNE!

  4) FAIR SIZED COMEX OI GAIN// 5)  FAIR SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER (1389 CONTRACTS)/// SMALL T.A.S.  ISSUANCE: 608 T.A.S.CONTRACTS//

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2025 INCLUDING TODAY

JUNE INITIAL

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE :

TOTAL EFP CONTRACTS ISSUED: 23,755 CONTRACTS OR 2,375,500 OZ OR 73,88 TONNES IN 14 TRADING DAY(S) AND THUS AVERAGING: 1696 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 14 TRADING DAY(S) IN  TONNES  73.88 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2024, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS  73.88 TONNES DIVIDED BY 3550 x 100% TONNES = 2.08% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

 FEB  :  171.24 TONNES  ( DEFINITELY SLOWING DOWN AGAIN)..

MARCH:.   276.50 TONNES (STRONG AGAIN/

APRIL:      189..44 TONNES  ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      247.54 TONNES (FINAL)

JULY:        188.73 TONNES FINAL

AUGUST:   217.89 TONNES FINAL ISSUANCE.

SEPT          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

NOV:           312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP

DEC.           175.62 TONNES//FINAL ISSUANCE//

TOTALS: 2,578.08 TONNES/2021

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

MARCH/2022:  409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.

APRIL:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247.44 TONNES FINAL//

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL/SECOND HIGHEST ON RECORD

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

OCT:  177.57  TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)

NOV.  223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)

DEC:  185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

JAN 2023:    228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!

FEB: 151.61 TONNES/FINAL

MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)

APRIL: 197.42 TONNES

MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY:  151.69 TONNES (WEAKER THAN LAST MONTH)

AUGUST:  195.28 TONNES (A STRONGER MONTH)//FINAL

SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)

OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.

NOV.   239.16 TONNES//WILL BE STRONG THIS MONTH,

DEC. 213.704 TONNES. A STRONG MONTH//

TOTAL FOR YEAR 2023: 2,569.57 TONNES VS  2578 TONNES LAST YEAR

2024 AND 2025:

JAN ’24:     291.76 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.//3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL)

FEB’24: 201.947 TONNES

MARCH 2024: 352.21 TONNES//2ND HIGHEST EVER RECORDED EFP ISSUANCE.

APRIL: 267.05TONNES (WILL BE AN EXTREMELY STRONG MONTH BUT LESS THAN MARCH 2024)

MAY; 316.606 TONNES (WILL BE ANOTHER STRONG MONTH// 3RD HIGHEST RECORDED EFP ISSUANCE )// NOTICE THE HUGE INCREASES IN EX FOR PHYSICAL THESE PAST FEW MONTHS. THESE CONTRACTS ARE CIRCLED BACK FROM LONDON WHEREBY METAL IS REMOVED FROM THE COMEX.

JUNE 175.11 tonnes HEADING FOR A WEAKER MONTH AND MUCH LESS THAN THE THREE PREVIOUS MONTHS

JULY: 351. 65 TONNES (3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL AND THE HIGHEST EVER RECORDED POST BASEL III) 

AUGUST: 274.79 TONNES//THIS MONTH WILL NO DOUBT BE A STRONG ISSUANCE OF EFP’S BUT MUCH LESS THAN LAST MONTH.

SEPT: 335 .104 TONNES//IF THIS CONTINUES WE WILL HAVE A HUMDINGER OF AN EFP ISSUANCE. WE WILL PROBABLY END JUST SHORT OF THE 3RD HIGHEST ISSUANCE EVER RECORDED.

OCT. 277.71 TONNES (THIS WILL BE A GOOD ISSUANCE THIS MONTH)

NOV: 393.875 TONNES ( A HUGE MONTH////NOW SURPASSED THE PREVIOUS 3RD AND 2ND HIGHEST EVER RECORDED EX FOR PHYSICAL ISSUANCE TO BECOME THE 2ND HIGHEST EVER RECORDED

DEC 360.03 TONNES THIRD HIGHEST EVER RECORDED FOR EFP ISSUANCE

TOTAL 2024 YEAR. 3,597.846 TONNES

JAN. 2025: 257.919 TONNES (ISSUANCE WILL BE PRETTY GOOD THIS MONTH BUT MUCH LOWER THAN LAST MONTH)

FEB: 207.21 TONNES//EX FOR PHYSICAL ISSUANCE (WILL BE A FAIR SIZED ISSUANCE THIS MONTH)

MARCH 130.84 TONNES//QUITE SMALL THIS MONTH.

APRIL; 208.57 TONNES. STILL A SMALL TO FAIR ISSUANCE FOR THE MONTH.

MAY: 113.499 TONNES OF GOLD EFP ISSUANCE//QUITE SMALL THIS MONTH

JUNE: 73.88 TONNES OF GOLD EFP ISSUANCE/EXTREMELY SMALL

SPREADING OPERATIONS

NOW SWITCHING TO GOLD FOR NEWCOMERS, HERE ARE THE DETAILS

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW  ACTIVE FRONT MONTH OF APRIL. WE ARE NOW INTO THE SPREADING OPERATION OF  GOLD

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE  NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE  ACTIVE DELIVERY MONTH OF FEB., FOR  GOLD: AND MARCH FOR SILVER

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY.  THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END  OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.

The crooks also use the spread in the TAS  account  (trade at settlement).  They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle  of the  front delivery month cycle. They unload the sell side of the equation, two months down the road.  The crooks violate position limits as the OCC refuse to hear our complaints.

First, here is an outline of what will be discussed tonight:

1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A FAIR SIZED 349 CONTRACTS OI  TO 184,482 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  7 YEARS AGO.  HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 1327 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

JULY and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1327 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE COMEX OI LOSS OF 322 CONTRACTS AND ADD TO THE 1327 E.FP. ISSUED

WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 978  CONTRACTS DESPITE OUR SMALL LOSS IN PRICE OF $0.20 THE RATS ARE FLEEING THE ARENA.

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS 5.025 MILLION PAPER OZ

 OCCURRED DESPITE OUR  $0.11 LOSS  IN PRICE.

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

b, ) Gold/silver trading overnight Europe,//GOLD COMMENT

Peter Schiff)

c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens

ii a) Chris Powell of GATA provides to us very important physical commentaries

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS

ASIAN MARKETS THIS THURSDAY MORNING:

SHANGHAI CLOSED UP 1.40 PTS OR 0.04%

//Hang Seng CLOSED DOWN 269.61 PTS OR 1.12%

// Nikkei CLOSED UP 348.41 PTS OR 0.90% //Australia’s all ordinaries CLOSED DOWN 0.15%

//Chinese yuan (ONSHORE) CLOSED DOWN AT 7.1871 OFFSHORE CLOSED DOWN AT 7.1989/ Oil UP TO 74.62 dollars per barrel for WTI and BRENT UP TO 76.15 Stocks in Europe OPENED ALL GREEN

ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP TRADING AT 7.1871 AND WEAKER//OFF SHORE YUAN TRADING UP TO 7.1845 AGAINST US DOLLAR/ AND THUS WEAKER

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ASIAN MARKETS THIS FRIDAY MORNING:

SHANGHAI CLOSED DOWN 2.11 PTS OR 0.07%

//Hang Seng CLOSED UP 292.74 PTS OR 1.21%

// Nikkei CLOSED DOWN 85.11 PTS OR 0.22% //Australia’s all ordinaries CLOSED DOWN 0.20%

//Chinese yuan (ONSHORE) CLOSED UP AT 7.1797 OFFSHORE CLOSED UP AT 7.1795/ Oil UP TO 76.02 dollars per barrel for WTI and BRENT UP TO 77.07 Stocks in Europe OPENED ALL GREEN

ONSHORE USA/ YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP TRADING AT 7.1797 AND STRONGER//OFF SHORE YUAN TRADING UP TO 7.1795 AGAINST US DOLLAR/ AND THUS STRONGER

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END

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A FAIR SIZED 1160 CONTRACTS TO A STILL LOW NUMBER OF 442,374 OI DESPITE OUR SMALL GAIN IN PRICE OF $1.30 WITH RESPECT TO WEDNESDAY’S // TRADING. WE LOST ZERO NUMBER OF NET LONGS WITH THAT PRICE LOSS FOR GOLD. AND AS YOU WILL SEE BELOW, OUR GAIN IN PRICE ALSO HAD A FAIR NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (1384 ). WE HAD LITTLE T.A.S. LIQUIDATION

THE CME ANNOUNCED WEDNESDAY NIGHT,  A ZERO EXCHANGE FOR RISK CONTRACT ISSUANCE FOR 0 OZ OR NIL TONNES. TOTAL ISSUANCE FOR MAY WAS RECORDED AT 9.591 TONNES OF GOLD AND THIS TOTAL WAS ADDED TO OUR NORMAL DELIVERIES. THE BANK OF ENGLAND MUST BE GETTING QUITE ANTSY OF GETTING ITS GOLD BACK.

IN THE MONTH OF APRIL WE HAD RECORDED A NEW RECORD 7 ISSUANCES OF EXCHANGE FOR RISK AS THE BANK OF ENGLAND IS GETTING VERY ANTSY ABOUT GETTING ITS GOLD BACK. THUS OUR TOTAL EXCHANGE FOR RISK FOR THE MONTH OF APRIL STOOD AT 8.3571 TONNES OF GOLD WHICH WERE ADDED TO OUR NORMAL APRIL GOLD DELVERIES.

HISTORY: LAST FIVE MONTH’S EXCHANGE FOR RISK

IN MARCH:

THE TOTAL NO. OF EXCHANGE FOR RISK ISSUANCE FOR THE MONTH OF MARCH (3 NOTICES) EQUALED: 7.6179 TONNES OF GOLD WHICH WAS ADDED TO OUR MARCH DELIVERY TOTALS.

IN FEBRUARY:

WE HAD A HUGE FIVE EXCHANGE FOR RISKS ISSUANCES FOR GOLD, TOTALLING 18.4527 TONNES!.

THE RECIPIENT OF ALL OF THESE EXCHANGE FOR RISK CONTRACTS IS THE BANK OF ENGLAND WHO DESPERATELY WANT THEIR LEASED GOLD BACK. THUS WE HAVE TWO SEPARATE ENTITIES (CENTRAL BANKS) DEMANDING THEIR GOLD BACK:

1. THE BANK OF ENGLAND
2. THE FEDERAL RESERVE BANK OF NEW YORK (NEED TO RETRIEVE THEIR LEASED GOLD FROM THE BIS)

THE COUNTERPARTY TO THE BANK OF ENGLAND’S EXCHANGE FOR RISK ARE BULLION BANKS THAT CANNOT VERIFY THAT THEIR GOLD IS UNENCUMBERED AND THUS THE BUYER, THE CENTRAL BANK OF ENGLAND, ASSUMES THE RISK OF THAT DELIVERY. THIS IS THE 5TH CONSECUTIVE MONTH FOR ISSUANCE OF EXCHANGE FOR RISK !!.(DEC THROUGH APRIL)

IN APRIL:

WE CONCLUDED APRIL WITH 7 ISSUANCE OF EXCHANGE FOR RISK FOR A TOTAL TONNAGE OF 8.3571 TONNES.

IN MAY:

MAY: 3 EX. FOR RISK ISSUED SO FAR FOR 3025 CONTRACTS OR 302,500 OZ OR 9.4054 TONNES. THIS WILL BE ADDED TO OUR NORMAL DELIVERY TO GIVE US TOTAL STANDING FOR MAY!THIS IS THE 6TH CONSECUTIVE MONTH FOR ISSUANCE OF EXCHANGE FOR RISK//NEW TOTAL EX FOR RISK IS 9.591 TONNES FOR THE 3 ISSUANCE!

IN JUNE

JUNE: ZERO ISSUED SO FAR!!

DETAILS ON JUNE COMEX MONTH//INITIAL

IN TOTAL WE HAD A FAIR SIZED GAIN ON OUR TWO EXCHANGES OF 2544 CONTRACTS DESPITE OUR SMALL GAIN IN PRICE. HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON WEDNESDAY NIGHT AS THEY WERE READY FOR THE FRBNY.S CONTINUED ORCHESTRATED ATTEMPTED AND FAILED RAID VERY EARLY IN THE COMEX SESSION AS THEY TRIED TO ABSORB EVERYTHING IN SIGHT FROM THE DAILY ATTACKS WITH THE CONTINUAL LIQUIDATION OF T.A.S. CONTRACTS. LONDONERS EXERCISED THEIR BOUGHT CONTRACTS FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE AND THANKED THE FRBNY FOR THE THOUGHTFULNESS. LONDON ANNOUNCED LATE (JAN 30) THAT THEY WERE OUT OF GOLD. WRONGLY IT WAS ATTRIBUTED TO THEIR SHIPPING PHYSICAL GOLD TO COMEX FOR STORAGE DUE TO TRUMP’S INITIATION OF TARIFFS. THE TRUTH OF THE MATTER IS THAT THIS GOLD LEFT LONDON TO CENTRAL BANKS, AND COMEX BANKS HAVE BEEN PAPERING THEIR LOSSES (DERIVATIVE) WITH KILOBAR ENTRIES. DELIVERY OF GOLD CONTRACTS ARE NOW TAKING SEVERAL WEEKS. NO DEFAULT HAS BEEN INITIATED AS DEALERS ARE AFRAID OF LOSS OF THEIR JOBS. SO THIS FRAUD CONTINUES. THE LEASE RATES IN LONDON HAVE NOW REVERTED BACK TO 1% BUT GOLD IN LONDON IS STILL EXTREMELY SCARCE. WE CAN NOW SAFELY SAY THAT THERE IS A RUN ON A BANK AND THAT BANK IS THE BANK OF ENGLAND!!!

THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT LAST MONTH OF MAY, AND JUNE CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY ALTHOUGH THE T.A.S. ISSUANCES IN GOLD HAVE GENERALLY BEEN ON THE LOW SIDE COMPARED TO SILVER WHICH HAVE BEEN HUGE. TODAY’S NUMBER HOWEVER IS SMALL AS THE CME NOTIFIES US THAT THEY HAVE ISSUED 608 T.A.S.

THE T.A.S. LIQUIDATION OF THESE T.AS. CONTRACTS(ALONG WITH MONTH END SPREADERS) IS WHY WE ARE HAVING DISTORTED COMEX OPEN INTEREST GAINS AND LOSSES IN OI BUT THIS IS COUPLED WITH MEGA HUGE AMOUNTS OF GOLD STANDING FOR DELIVERY TO CONFUSE THE ISSUE!!!!! AND THIS WAS SURELY ON DISPLAY WITH FIRST DAY NOTICE TOTALS WITH GOLD TONNES STANDING FOR APRIL AT 209 + TONNES INCLUDING MANY MASSIVE QUEUE JUMPS AND THIS CONTINUED INTO MAY WITH FINAL STANDING AT 90.23 TONNES. HOWEVER JUNE WHICH IS NORMALLY A HUGE DELIVERY MONTH , INITIAL STANDING IS RECORDED AT 62.534 TONNES PLUS TODAY’S 0.60653 TONNES QUEUE JUMP = 90.081 TONNES. (IS THE COMEX RUNNING OUT OF GOLD?)//TOTAL NET QUEUE JUMPING FOR THE MONTH FOR THE MONTH: 27.543 TONNES

NEW TOTAL TONNES STANDING JUNE: 90.081 TONNES

THE FED IS THE OTHER MAJOR SHORT OF AROUND 32+ TONNES OF GOLD OWING TO THE B.I.S. THE FED NEEDS TO COVER AS THEY ARE VERY WORRIED ABOUT WHAT IS GOING TO HAPPEN TO GOLD PRICES NOW THAT THEY MUST BECOME COMPLIANT TO BASEL III RULES JULY 1/2023 AS OUTLINED IN ANDREW MAGUIRE’S LATEST LIVE FROM THE VAULT 225 EPISODE. AS HE TACKLES THIS IMPORTANT TOPIC. THE FOUR OR FIVE BANKS ARE ALSO WORRIED ABOUT THEIR HUGE PRECIOUS METAL DERIVATIVE EXPOSURE (NORTH OF ONE TRILLION DOLLARS) AND THIS IS PROBABLY THE MAJOR REASON FOR GOLD/SILVER’S RISE THESE PAST THREE MONTHS. THEY ARE TOTALLY TRAPPED., AND THEIR FAILURE TO STOP CENTRAL BANK PURCHASES OF PHYSICAL GOLD IS THE MAJOR ISSUE OF THE DAY!IT SURE LOOKS LIKE THE BIS HAS GIVEN THE FED ITS MARCHING ORDERS TO COVER ITS PHYSICAL GOLD SHORT. TRUMP WILL PROBABLY BE FURIOUS WITH THE FED IF IT FINDS OUT THAT THEY (FRBNY) HAS BEEN MANIPULATING THE GOLD MARKET FOR THE PAST TWO YEARS.

OUR PHYSICAL LONDONERS BOUGHT NEW MASSIVE QUANTITIES OF LONGS AT ANY PRICE AND THIS GOLD BOUGHT WILL BE TENDERED FOR PHYSICAL ON A T + ???? BASIS. BECAUSE GOLD IS BASEL III COMPLIANT, GOLD IS SUPPOSED BE DELIVERED IN A VERY TIMELY ONE DAY. CENTRAL BANKS AROUND THE WORLD, BEING REPRESENTED BY OUR LONDONERS, ARE THE REAL PURCHASERS OF THIS GOLD.

EUROPE IS NOW BASEL III COMPLIANT. THE WEST (FED AND COMEX) MUST BE COMPLIANT BY JULY 1//2025.

THE PROBLEM FOR THOSE PROVIDING THE SHORT PAPER IS THE SHOCK TO THEM ON RECEIVING NOTICE THAT THE LONGS WANT THE PHYSICAL GOLD AS THEY TENDER FOR THAT SHINY YELLOW METAL. THE HIGH LIQUIDATION OF OUR TWO SPREADERS: 1) THE MONTH END SPREADERS AND 2. T.A.S DURING THESE PAST SEVERAL WEEKS IS SURELY DISTORTING COMEX OPEN INTEREST BUT THAT DOES NOT STOP LONDON’S ACCUMULATION OF PHYSICAL! YOU CAN ALSO VISUALIZE THAT PERFECTLY WITH THE HUGE AMOUNTS OF QUEUE JUMPING ORCHESTRATED BY CENTRAL BANKERS BOLTING AHEAD OF ORDINARY LONGS AS THEIR NEED FOR PHYSICAL IS GREAT AS THEY SCOUR THE PLANET LOOKING FOR GOLD, AND THE MASSIVE AMOUNT OF GOLD STANDING EACH AND EVERY MONTH INCLUDING FIRST DAY NOTICE OF GOLD TONNAGE STANDING. 

EXCHANGE FOR PHYSICAL ISSUANCE

 THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS A FAIR SIZED 1384 EFP CONTRACT WAS ISSUED: :  /AUGUST  1834 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 1384 CONTRACT. THESE EFP;S CIRCLE AROUND LONDON ON A 13 DAY BASIS AND ARE NOW USED BY GLOBAL CENTRAL BANKS TO EXERCISE FOR PHYSICAL GOLD WITH THE OBLIGATION TO DELIVER BEING FORCED ONTO COMEX BANKS. THE GOLD GENERALLY DELIVERED COMES FROM LONDON BUT THEY ARE OUT!! THUS COMEX BECOMES THE MAJOR SOURCE FOR OUR CENTRAL BANKERS.

WE HAD :

1. ZERO LIQUIDATION OF OUR T.A.S. SPREADERS
2. ZERO NET SPEC LIQUIDATION WITH OUR SMALL GAIN IN PRICE

T.A.S.SPREADER ISSUANCE

AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS USUALLY DURING MID MONTH IN THE DELIVERY CYCLE), BUT NOW ON A DAILY BASIS, THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR WEDNESDAY MORNING//TUESDAY NIGHT WAS A SMALL SIZED, 608 CONTRACTS.  

THE RAIDS WHETHER ON OPTIONS EXPIRY MONTH OR OTHERWISE LIKE TODAY, ACCOMPLISHES TWO IMPORTANT ASPECTS FOR OUR CROOKS:

1. STALLS THE ADVANCE IN PRICE
2. LOWERS THEIR ADVANCING DERIVATIVE LOSSES.

MECHANICS OF T.A.S CONTRACTS/DECEMBER THROUGH MARCH, APRIL MAY AND JUNE

THROUGHOUT THE FEW YEARS, THE BANKERS CONTINUE TO SELL OFF THE LONG SIDE OF THE SPREAD (T.A.S.) WHICH  OF COURSE CONTINUES TO MANIPULATE THE PRICE OF GOLD SOUTHBOUND. (THEY KEEP THE SHORT SIDE OF THE CALENDAR/T.A.S. SPREAD WHICH WILL BE LIQUIDATED IN DAYS HENCE.THIS WAS SURELY IN EVIDENCE IN TRADING THURSDAY WITH THE SMALL GAIN IN PRICE!

STANDING LAST 6 MONTHS OF 2025: STANDING FOR GOLD

YEAR 2025:

JAN 2025:

113.30 TONNES (WHICH INCLUDES 43.408 TONNES EX FOR RISK)

FEB: 2025:

256.607 TONNES (WHICH INCLUDES 18.4567 TONNES OF EX FOR RISK)

MARCH:

STANDING FOR GOLD : 60.33 TONNES + 7.6179 TONNES EX FOR RISK = 67.9479 TONNES  WHICH IS EXTREMELY HIGH FOR A NON DELIVERY MONTH.

APRIL:

FINAL STANDING FOR GOLD: 201.573 TONNES + 8.3571 TONNES EX FOR RISK = 209.953 TONNES

MAY: FINAL STANDING 90.235 TONNES WHICH INCLUDES QUEUE JUMPING AND 9.591 TONNES EX FOR RISK.

JUNE: INITITAL STANDING 62.534 TONNES PLUS 0.60653 TONNES OF QUEUE JUMP EQUALS 90.081 TONNES

THIS IS CENTRAL BANKS STANDING FOR PHYSICAL GOLD!!

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HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 52 MONTHS OF 2021-2025:

DEC 2021: 112.217 TONNES

NOV.  8.074 TONNES

OCT.    57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY 7.2814 TONNES

JUNE:  72.289 TONNES

MAY 5.77 TONNES

APRIL  95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL  YEAR  2021 (JAN- DEC): 601.213 TONNES

YEAR 2022: STANDING FOR GOLD/COMEX

JANUARY 2022  17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT.  38.1158 TONNES

OCT:  77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL

Dec. 64.000 tonnes

(TOTAL  YEAR 656.076 TONNES)

2023:STANDING FOR GOLD/COMEX

JAN/2023:    20.559 tonnes

FEB 2023: 47.744 tonnes

MAR:  19.0637 TONNES

APRIL: 75.676  tonnes

MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk =  20.338

JUNE: 64.354 TONNES

JULY: 10.2861 TONNES

AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)

SEPT: 15.281 TONNES FINAL

OCT.    35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes

NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK   = 34.9627 TONNES

DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK =  51.707 TONNES

TOTAL 2023 YEAR : 436.546 TONNES

2024/STANDING FOR GOLD/COMEX

JAN ’24.      22.706 TONNES

FEB. ’24:  66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)

MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES

APRIL: 2024: 53.673TONNES FINAL

MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 11.9325

JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022

JULY: 11.692 TONNES

AUGUST 69.602 TONNES//FINAL STANDING

SEPT. 13.164 TONNES.

OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK =60.391 TONNES

NOV . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES

DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNES  EQUALS 95.1066 TONNES

total year 2024: 540.30 tonnes

COMEX GOLD TRADING/JUNE CONTRACT MONTH

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $1.30/ /) AND THEY WERE UNSUCCESSFUL IN KNOCKING OFF ANY APPRECIABLE NET SPECULATOR LONGS AS WE DID HAVE A FAIR SIZED GAIN IN OI FROM TWO EXCHANGES. AND AS EXPLAINED ABOVE WE HAD CONSIDERABLE T.A.S. SPREADER LIQUIDATION  ////WEDNESDAY AS THEY ARE STILL TRYING TO QUELL GOLD’S ATTEMPT AT FURTHER INCREASES ABOVE THE MAGIC $3,400 BARRIER AND STOP HUGE COMEX/OTC DERIVATIVE LOSSES FROM EXPLODING

FRIDAY MORNING//WEDNESDAY NIGHT

THE CROOKS HOWEVER COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL WEDNESDAY EVENING/FRIDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD TO ARRIVE BY BOAT. IT IS NOW TAKING SEVERAL WEEKS TO DELIVER

EXCHANGE FOR RISK EXPLANATION/FEB THROUGH /JUNE TRADING

EXCHANGE FOR RISK CONTRACTS/MONTH FOR FEBRUARY://FINISHES AT 4 ISSUANCES

THE CME ANNOUNCED TO THE WORLD THAT ON FEB 4 THEY ISSUED 100 CONTRACTS OF EXCHANGE FOR RISK TO THE BANK OF ENGLAND.THEN ,FEB 4 THEY ISSUED THEIR SECOND CONSECUTIVE EXCHANGE FOR RISK OF 500 CONTRACTS FOR 50,000 OZ (1.555 TONNES OF GOLD. FEB 6 WAS THE THIRD ISSUANCE FOR A HUGE 2400 CONTRACTS, 240,000 OZ OR 7.465 TONNES. AND THEN FINALLY FRIDAY NIGHT, THE 4TH EXCHANGE FOR RISK WAS ISSUED REPRESENTED BY 2834 CONTRACTS OR 283400 OZ OR 8.8149 TONNES OF GOLD WITH THE OWNER OF THOSE CONTRACTS BEING THE BANK OF ENGLAND. THE BANK OF ENGLAND WANTS THEIR GOLD BACK. THIS NEW EXCHANGE FOR RISK WAS ADDED TO PREVIOUS EXCHANGE FOR RISK OF 9.3264 TONNES TO A NEW TOTAL EXCHANGE FOR RISK = 18.1413 TONNES. IN MID WEEK WE HAD ANOTHER .3114 TONNES OF EXCHANGE FOR RISK ISSUANCED//NEW TOTAL 18,4527 TONNES!..FINALLY THIS TOTAL WAS ADDED TO OUR REGULAR DELIVERIES THROUGH THE MONTH.

EXCHANGE FOR RISK CONTRACTS/MONTH FOR MARCH

EARLY IN THE DELIVERY CYCLE THE CME NOTIFIED US THAT WE HAD OUR FIRST EXCHANGE FOR RISK CONTRACT ISSUANCE IN MARCH FOR 150 CONTRACTS REPRESENTING 15,000 OZ OF GOLD OR .46656 TONNES. THE BANK OF ENGLAND WAS STILL NOT SATISFIED AS THEY NEED TO RETRIEVE ALL OF ITS LOST GOLD THROUGH LEASING! THE 15,000 OZ WAS ADDED TO OUR NORMAL DELIVERY TOTAL.

MARCH ISSUES IT’S THIRD EXCHANGE FOR RISK: TOTAL FOR THE MONTH FINISHED AT 3

TOTAL ISSUANCE OF EXCHANGE FOR RISK MARCH 28 TOTALS 2200 CONTRACTS FOR 6.8429 TONNES OF GOLD. PRIOR ISSUANCE: .7775 TONNES. THUS TOTAL EXCHANGE FOR RISK FOR MARCH : 7.6179 TONNES OF GOLD. MARCH BECOMES THE 4TH CONSECUTIVE MONTH FOR EXCHANGE FOR RISK ISSUANCE.

APRIL, ISSUED ITS 7TH EXCHANGE FOR RISK: 187 CONTRACTS OR 18,700 OZ OR 0.5816 TONNES

SUMMARY EXCHANGE FOR RISK FOR THE MONTH OFAPRIL//TOTAL ISSUANCES 7 FOR 8.3571 TONNES OF GOLD!:

ISSUANCE FOR EXCHANGE FOR RISK ON FIRST DAY NOTICE//APRILL MONTH// WAS 700 CONTRACTS FOR 70,000 OZ OR 2.177 TONNES OF GOLD TO WHICH WE ADD (APRIL 4) : 250 CONTRACTS FOR 25,000 OZ OR .777 TONNES, APRIL 7 ISSUANCE OF 280 CONTRACTS FOR 28,000 OZ OR .8709 TONNES THEN APRIL 9 484 CONTRACTS FOR 48400 OZ OR 1.5054 TONNES AND FINALLY MONDAY MORNING APRIL 14 AT 200 CONTRACTS FOR 20,000 OZ OR .5816 TONNES AND NOW APRIL 24: 600 CONTRACTS FOR 60,000 OZ OR 1.866 TONNES AND NOW APRIL 25 187 CONTRACTS FOR 18700 OZ OR .5816 TONNES//NEW FINAL TOTAL ISSUANCE FOR APRIL: 8.3571 TONNES!!. APRIL ISSUANCE OF EXCHANGE FOR RISK MEANS WE NOW HAVE 5 CONSECUTIVE MONTHS FOR EXCHANGE FOR RISK ISSUANCE. THESE DELIVERIES WERE ADDED TO OUR NORMAL DELIVERY CYCLE.

MAY ISSUANCE OF EXCHANGE FOR RISK NOW TOTALS 3 ISSUANCES FOR 308,350 OZ. THIS TOTALS 9.591 TONNES OF GOLD WHICH WILL BE ADDED TO OUR REGULAR DELIVERY SCHEDULE. THE RECPIENT OF THIS LARGESS IS THE BANK OF ENGLAND.

JUNE ISSUANCE: SO FAR ZERO

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ANALYSIS JUNE DELIVERY MONTH GOING FROM FIRST DAY NOTICE// JUNE COMEX CONTRACT

WE HAVE GAINED A FAIR SIZED TOTAL OF 7.912 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR JUNE FIRST RECORDED AT 62.534 TONNES ON FIRST DAY NOTICE/MAY 30. TO THIS WE ADD WEDNESDAY NIGHT’S QUEUE JUMP OF 19,500 OZ OR 0.60653 TONNES OF GOLD//NEW STANDING FOR JUNE GOLD ADVANCES TO 90.081.

ALL OF THIS QUITE SMALL STANDING FOR JUNE WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $1.30

WE HAD A HUGE 5945 CONTRACTS REMOVED TO THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL.

NET GAIN ON THE TWO EXCHANGES 2544 CONTRACTS OR 254,400 0Z (7.912 TONNES)

confirmed volume WEDNESDAY 188,377. contracts: poor volume////

//speculators have left the gold arena

END

INITIAL

JUNE CONTRACT MONTH

JUNE 19/2025

dealer deposits: 0 entry

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DEPOSITS/CUSTOMER

we have 0 customer entries

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withdrawals:

1 ENTRY

1 ENTRY


i) Manfra 210,624.228 oz
6.5 tonnes

total withdrawal 210,624.228 oz

adjustments: 1//

Delaware dealer to customer: 289.359 oz

9 kilobars

AMOUNT OF GOLD STANDING FOR JUNE

THE FRONT MONTH OF JUNE STANDS AT 1801 CONTRACTS FOR A LOSS OF 65 CONTRACTS. WE HAD 260 CONTRACTS SERVED ON WEDNESDAY SO WE GAINED 195 CONTRACTS FOR 19,500 OZ OR 0.60653 TONNES OF GOLD WHICH UNDERWENT A QUEUE JUMP WHERE THESE BOYS DECIDED TO TAKE IMMEDIATE DELIVERY ON THIS SIDE OF THE POND. THIS TOTAL WILL BE ADDED TO OUR INITIAL AMOUNT OF GOLD STANDING AT 62.534 TONNES//NEW STANDING ADVANCES TO 90.081 TONNES

JULY LOST 262 CONTRACTS TO STAND AT 6498

AUGUST GAINED 749 CONTRACTS UP TO 324,519

We had 1444 contracts filed for today representing 144,400 oz  

Today, 0 notice(s) were issued from J.P.Morgan dealer and 1440 notices issued from their client or customer account. The total of all issuance by all participants equate to 1444 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 577 notice(s) was (were) stopped  (received) by J.P.Morgan//customer account 

To calculate the INITIAL total number of gold ounces standing for JUNE /2025. contract month, we take the total number of notices filed so far for the month (28,604 X 100 oz ) to which we add the difference between the open interest for the front month of  JUNE (1801 CONTRACTS)  minus the number of notices served upon today  (1440 x 100 oz per contract) equals  2,896,100 OZ  OR 90.081 TONNES to which we add 0 tonnes of gold issued under exchange for risk// total standing 90.081 tonnes

thus the INITIAL standings for gold for the JUNE contract month:  No of notices filed so far (28,604 x 100 oz +we add the difference for front month of JUNE (1801 OI} minus the number of notices served upon today (1444 x 100 oz) which equals  2,896,100 OZ OR 89.536 TONNES + 0 tonnes EX FOR RISK = 90.081 tonnes

TOTAL COMEX GOLD STANDING FOR JUNE.: 90.081 TONNES WHICH IS SMALL FOR THIS NORMALLY ACTIVE ACTIVE DELIVERY MONTH IN THE CALENDAR. FEBRUARY HAD THE HIGHEST DELIVERY FOR ANY MONTH AND APRIL WAS SECOND..JUNE DID NOT FOLLOW FEB AND APRIL’S LEAD!!

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COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 OZ PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 oz

total pledged gold: 2,205,428.352 oz 68.60 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 37,573,55.40 oz  

TOTAL REGISTERED GOLD 20,335,501.055: or 632.51 tonnes

TOTAL OF ALL ELIGIBLE GOLD 17,238,054.350 OZ  

END

REGISTERED GOLD THAT CAN BE SERVED UPON 18,130,007 oz (REG GOLD- PLEDGED GOLD)= 563.92 tonnes //

SILVER/COMEX

THE JUNE 2025  SILVER CONTRACT//INITIAL

JUNE 19

INITIAL

1 deposits into dealer accounts

0 entry

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0 DEPOSIT ENTRY/CUSTOMER ACCOUNT

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withdrawals: customer side/eligible

2 withdrawals entries

2 withdrawal entries


i) CNT 10,102.820 oz
ii) Out of HSBC 300,362.230 oz

total withdrawal 301,465.050 oz

ADJUSTMENTs 1

a) customer to dealer: 12,183,484.450 oz

JPMorgan has a total silver weight: 214.860million oz/495.467 oz million  or 43.43%

TOTAL REGISTERED SILVER: 174,164 MILLION OZ//.TOTAL REG + ELIGIBLE. 495.467 Million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JUNE

silver open interest data:

FRONT MONTH OF JUNE /2025 OI: 68 OPEN INTEREST CONTRACTS FOR A LOSS OF 39 CONTRACTS. WE HAD 50 CONTRACTS SERVED ON WEDNESDAY SO WE GAINED 11 CONTRACTS OR 0.055 MILLION OZ UNDERWENT A QUEUE JUMP IN ORDER TO TAKE DELIVERY OF PHYSICAL SILVER OVER ON THIS SIDE OF THE POND.

JULY LOST 4948 CONTRACTS DOWN TO 78,739

AUGUST GAINED 184 CONTRACTS TO 865

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 1 or 5,000 oz

CONFIRMED volume; ON WEDNESDAY 74,805 strong//

AND NOW MAY DELIVERIES:

To calculate the number of silver ounces that will stand for delivery in JUNE. we take the total number of notices filed for the month so far at 3295 X5,000 oz = 16.475 MILLION oz 

to which we add the difference between the open interest for the front month of JUNE (68) AND the number of notices served upon today (1 )x (5000 oz)

Thus the  standings for silver for the JUNE 2025 contract month:  (3295) Notices served so far) x 5000 oz + OI for the front month of JUNE(68) minus number of notices served upon today (1)x 5000 oz equals silver standing for the JUNE contract month equating to 16.810 MILLION OZ .

 New total standing:  16.810 million oz which is huge for this NON active delivery month of JUNE.

We must also keep in mind that there is considerable silver standing in London coming from our longs in New York that underwent EFP transfers.

There are 174,164million oz of registered silver.

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price on that day at $18.42. The previous record was 224,540 contracts with the price at that time of $20.44.

Now that we have surpassed $28.40 the next big line in the sand for silver is $34.76. After that the moon

the next big line in the sand for silver is $34.76. After that the moon

END

BOTH GLD AND SLV ARE MASSIVE FRAUDS!

GLD AND SLV INVENTORY LEVELS

JUNE 20  WITH GOLD DOWN $19.80 TODAY// HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.43 TONNES OF GOLD INTO THE GLD//: /// ///INVENTORY RESTS AT 947.37 TONNES

JUNE 18  WITH GOLD UP $1.30 TODAY// HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 4.03 TONNES OF GOLD INTO THE GLD//: /// ///INVENTORY RESTS AT 945.94 TONNES

JUNE 17  WITH GOLD DOWN $9.60 TODAY// HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.44 TONNES OF GOLD INTO THE GLD//: /// ///INVENTORY RESTS AT 941.93 TONNES

JUNE 16  WITH GOLD DOWN $33.85 TODAY// HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.758 TONNES OF GOLD INTO THE GLD//: /// ///INVENTORY RESTS AT 940.49 TONNES

JUNE 13  WITH GOLD UP $53.40 TODAY// HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.38 TONNES OF GOLD OUT OF THE GLD//: /// ///INVENTORY RESTS AT 932.91 TONNES

JUNE 12  WITH GOLD UP $55.75 TODAY// HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.72 TONNES OF GOLD OUT OF THE GLD//: /// ///INVENTORY RESTS AT 934.19 TONNES

JUNE 11  WITH GOLD UP $1.10 TODAY// SMALL CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 0.31 TONNEES OF GOLD OUT OF THE GLD//: /// ///INVENTORY RESTS AT 935.91 TONNES

JUNE 10  WITH GOLD DOWN $11.80 TODAY// HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 2.02 TONNEES OF GOLD INTO THE GLD//: /// ///INVENTORY RESTS AT 936.22 TONNES

JUNE 9  WITH GOLD UP $10.00 TODAY// HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.45 TONNEES OF GOLD FROM THE GLD//: /// ///INVENTORY RESTS AT 934.20 TONNES

JUNE 6  WITH GOLD DOWN $28.00 TODAY// NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 935.65 TONNES

JUNE 5  WITH GOLD DOWN $23.10 TODAY// NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 935.65 TONNES

JUNE 4  WITH GOLD UP $22.30 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 2.58 TONNES OF GOLD INTO THE GLD. /// ///INVENTORY RESTS AT 935.65 TONNES

JUNE 3  WITH GOLD DOWN $19.85 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 2.87 TONNES OF GOLD INTO THE GLD. /// ///INVENTORY RESTS AT 933.07 TONNES

JUNE 2  WITH GOLD UP $80.90 TODAY// NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 930.20 TONNES

MAY 30  WITH GOLD DOWN $27.10 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 4.59 TONNES OF GOLD INTO THE GLD/// ///INVENTORY RESTS AT 930.20 TONNES

MAY 29  WITH GOLD UP $22.35 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 3.15 TONNES OF GOLD INTO THE GLD/// ///INVENTORY RESTS AT 925.71 TONNES

MAY 28  WITH GOLD DOWN $5.30 TODAY// NO CHANGES IN GOLD AT THE GLD:/ ///INVENTORY RESTS AT 925.61 TONNES

MAY 27  WITH GOLD DOWN $63.50 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.43 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 922.46 TONNES

MAY 23  WITH GOLD UP $69.70 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 4.01 TONNES OF GOLD INTO THE GLD/ ///INVENTORY RESTS AT 923.89TONNES

MAY 22  WITH GOLD DOWN $15.50 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.72 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 919.88 TONNES

MAY 21   WITH GOLD UP $28.75 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 0.57 TONNES OF GOLD INTO THE GLD/ ///INVENTORY RESTS AT 921.60 TONNES

MAY 20   WITH GOLD UP $51.40 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 2.30 TONNES OF GOLD INTO THE GLD/ ///INVENTORY RESTS AT 921.03 TONNES

MAY 19   WITH GOLD UP $46.65 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 4.89 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 918.73 TONNES

MAY 16   WITH GOLD DOWN $38.90 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 4.30 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 927.62 TONNES

MAY 15   WITH GOLD UP $38.80 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 4.53 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 931.92 TONNES

MAY 14   WITH GOLD DOWN $40.35 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.43 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 936.51 TONNES

MAY 13   WITH GOLD UP $19.85 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.71 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 937.94 TONNES

MAY 12   WITH GOLD DOWN $115.00 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.71 TONNES OF GOLD OUT OF THE GLD/ ///INVENTORY RESTS AT 937.94 TONNES

MAY 9   WITH GOLD UP $37.50 TODAY// HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 2.01 TONNES OF GOLD INTO THE GLD/ ///INVENTORY RESTS AT 939.68 TONNES

MAY 8   WITH GOLD DOWN $82.60 TODAY// SMALL CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 0.23 TONNES OF GOLD WITHDRAWN FROM THE GLD/ ///INVENTORY RESTS AT 937.67 TONNES

MAY 7   WITH GOLD DOWN $30.30 TODAY// NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 937.96 TONNES

MAY 6   WITH GOLD UP $101.55 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 6.32 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 937.96 TONNES

MAY 5   WITH GOLD UP $77.95 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.13 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 944.28 TONNES

MAY 2   WITH GOLD UP $ 18.40 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 1.15 TONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 945.41 TONNES

MAY 1   WITH GOLD DOWN $ 92,45 TODAY// HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.87 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 944.26 TONNES

APRIL30   WITH GOLD DOWN $14.05 TODAY// NO CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.86 TONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 947.13 TONNES

GLD INVENTORY: 947.37 TONNES, TONIGHTS TOTAL

SILVER

JUNE 20 WITH SILVER DOWN $0.83/ HUGE CHANGES AT THE SLV:. A DEPOSIT OF 2.818 MILLION OZ INTO THE SLV..////INVENTORY RESTS AT 474.641 MILLION OZ.

JUNE 18 WITH SILVER DOWN $0.20/ HUGE CHANGES AT THE SLV:. A WITHDRAWAL OF 1.273 MILLION OZ INTO THE SLV..////INVENTORY RESTS AT 471.823 MILLION OZ.

JUNE 17 WITH SILVER UP $0.67/ HUGE CHANGES AT THE SLV:. A DEPOSIT OF 1.273 MILLION OZ INTO THE SLV..////INVENTORY RESTS AT 473.096 MILLION OZ.

JUNE 16 WITH SILVER UP $0.18/ HUGE CHANGES AT THE SLV:. A WITHDRAWAL OF 1.727 MILLION OZ FROM THE SLV..////INVENTORY RESTS AT 471.823 MILLION OZ.

JUNE 13 WITH SILVER UP $0.11/NO CHANGES AT THE SLV:.////INVENTORY RESTS AT 473.550 MILLION OZ.

JUNE 12 WITH SILVER UP $0.11/HUGE CHANGES AT THE SLV:A DEPOSIT OF 1.276 MILLION OZ INTO THE SLV/ ././///INVENTORY RESTS AT 473550 MILLION OZ.

JUNE 11 WITH SILVER DOWN $0.45/HUGE CHANGES AT THE SLV:A DEPOSIT OF 1.046 MILLION OZ INTO THE SLV/ ././///INVENTORY RESTS AT 472.274 MILLION OZ.

JUNE 10 WITH SILVER DOWN $0.16/HUGE CHANGES AT THE SLV:A DEPOSIT OF 1.182 MILLION OZ INTO THE SLV/ ././///INVENTORY RESTS AT 471.232 MILLION OZ.

JUNE 9 WITH SILVER UP $0.69/HUGE CHANGES AT THE SLV:A DEPOSIT OF 1.182 MILLION OZ INTO THE SLV/ ././///INVENTORY RESTS AT 472.914 MILLION OZ.

JUNE 6 WITH SILVER UP $0.63/HUGE CHANGES AT THE SLV:A DEPOSIT OF 3.863 MILLION OZ INTO THE SLV/ ././///INVENTORY RESTS AT 471.732 MILLION OZ. (A TOTAL DEPOSIT OF 11.856 MILLION PHANTOM OZ IN THE LAST 4 DAYS)

JUNE 5 WITH SILVER UP $1.14/HUGE CHANGES AT THE SLV:A DEPOSIT OF 4.364 MILLION OZ INTO THE SLV/ ././///INVENTORY RESTS AT 467.869 MILLION OZ.

JUNE 4 WITH SILVER DOWN $0.01/HUGE CHANGES AT THE SLV:A DEPOSIT OF 2.084 MILLION OZ INTO THE SLV/ ././///INVENTORY RESTS AT 463.505 MILLION OZ.

JUNE 3 WITH SILVER DOWN $0.02/HUGE CHANGES AT THE SLV:A DEPOSIT OF 1.545 MILLION OZ INTO THE SLV/ ././///INVENTORY RESTS AT 461.421 MILLION OZ.

JUNE 2 WITH SILVER UP $1.58/NO CHANGES AT THE SLV: ././///INVENTORY RESTS AT 459.876 MILLION OZ.

MAY 30 WITH SILVER DOWN $0.36/HUGE CHANGES AT THE SLV: A DEPOSIT OF 2.773 MILLION OZ INTO THE SLV././///INVENTORY RESTS AT 459.876 MILLION OZ.

MAY 29 WITH SILVER UP $0.29/NO CHANGES AT THE SLV////INVENTORY RESTS AT 457.103 MILLION OZ.

MAY 28 WITH SILVER DOWN $0.18/NO CHANGES AT THE SLV////INVENTORY RESTS AT 457.103 MILLION OZ.

MAY 27 WITH SILVER DOWN $0.34/HUGE CHANGES AT THE SLV//A DEPOSIT OF 2.728 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 457.103 MILLION OZ.

MAY 23 WITH SILVER UP $0.38/HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.5 MILLION OZ OF SILVER INTO THE SLV/: //INVENTORY AT SLV RESTS AT 454.375 MILLION OZ

MAY 22 WITH SILVER DOWN $0.27/NO CHANGES IN SILVER INVENTORY AT THE SLV:////: //INVENTORY AT SLV RESTS AT 451.875 MILLION OZ

MAY 21 WITH SILVER UP $0.35/HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.091 MILLION OZ INTO THE SLV// ////: //INVENTORY AT SLV RESTS AT 451.875 MILLION OZ

MAY 20 WITH SILVER UP $0.65/HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.41 MILLION OZ INTO THE SLV// ////: //INVENTORY AT SLV RESTS AT 449.784 MILLION OZ

MAY 19 WITH SILVER UP $0.17/HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.819 MILLION OZ OUT OF THE SLV// ////: //INVENTORY AT SLV RESTS AT 447.193 MILLION OZ

MAY 16 WITH SILVER DOWN $0.24/NO CHANGES IN SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 449.193 MILLION OZ

MAY 15 WITH SILVER UP 0.04/HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 0.909 MILLION OZ OUT OF SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 449.193 MILLION OZ

MAY 14 WITH SILVER DOWN $0.39/HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 0.682 MILLION OZ OUT OF SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 450.102 MILLION OZ

MAY 13 WITH SILVER UP $0.44/HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 2.001 MILLION OZ INTO SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 450.7845 MILLION OZ

MAY 12 WITH SILVER DOWN $0.30/HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 2.001 MILLION OZ INTO SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 450.7845 MILLION OZ

MAY 9 WITH SILVER UP $0.31/NO CHANGES IN SILVER INVENTORY AT THE SLV:NO CHANGE IN SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 448.783 MILLION OZ

MAY 8 WITH SILVER DOWN $0.16/NO CHANGES IN SILVER INVENTORY AT THE SLV:NO CHANGE IN SILVER INVENTORY AT THE SLV ////: //INVENTORY AT SLV RESTS AT 448.783 MILLION OZ

MAY 7 WITH SILVER DOWN $0.54/NO CHANGES IN SILVER INVENTORY AT THE SLV: ////: //INVENTORY AT SLV RESTS AT 448.783 MILLION OZ

MAY 6 WITH SILVER UP $0.92 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV:A HUG WITHDRAWAL OF 2.818 MILLION OZ OUT OF THE SLV ////: //INVENTORY AT SLV RESTS AT 448.783 MILLION OZ

MAY 5 WITH SILVER UP $0.08 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV:A SMALL DEPOSIT OF 0.117 MILLION OZ INTO THE SLV ////: //INVENTORY AT SLV RESTS AT 450.602 MILLION OZ

MAY 2 WITH SILVER DOWN $0.19 /MASSIVE CHANGES IN SILVER INVENTORY AT THE SLV:A HUGE WITHDRAWAL OF 4.545 MILLION OZ INTO THE SLV ////: //INVENTORY AT SLV RESTS AT 450.424 MILLION OZ

MAY 1 WITH SILVER DOWN $0.43 /SMALL CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 0.683 MILLION OZ INTO THE SLV ////: //INVENTORY AT SLV RESTS AT 454.972 MILLION OZ

APRIL30 WITH SILVER DOWN $0.65 /HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 2.364 MILLION OZ INTO THE SLV ////: //INVENTORY AT SLV RESTS AT 454.289 MILLION OZ

CLOSING INVENTORY 474.641 MILLION OZ//

SINGAPORE VOLUMES AND VOLUMES FOR JUNE 16

SHANGHAI VOLUMES FOR JUNE 17

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY

PETER SCHIFF

MATHEW PIEPENBERG

2.ALASDAIR MACLEOD

The bear squeeze pauses despite war drums beating

The shorts on Comex took the day off yesterday, being the Juneteenth National Independence Day. But their problems continue nevertheless…

In European trade this morning, gold was $3350, down $85 from last Friday, while silver was $36.00, down 30 cents after a high of $37.31 on Tuesday. Yesterday was a US public holiday, so Comex dealing later today should be quiet. And it was interesting that in the absence of US dealing, gold and silver declined.

In recent trading sessions, gold and silver have trended higher in US trading hours, and a lack of follow-through has been evident in Shanghai. This reverses the established pattern of greater interest shown in Asian markets than in London and New York. That point made, silver appears more exposed to a selloff than gold as the two charts of price and Comex open interest demonstrate.

The two contracts are behaving differently. Gold has been consolidating close to all-time highs while Comex open interest, a good proxy for an overbought—oversold index has remained low. This unusual relationship strongly suggests a squeeze on the shorts, principally bullion bank trading desks. More on this below.

Meanwhile, silver is in a more conventional bullish relationship with the price being driven by buyers with open interest rising into overbought territory. But a look at the commitment of traders’ statistics tells us that the three individual long categories (managed money, other reported, and non-reported) are not yet in overbought territory, implying they have further buying power.

Silver is considerably more volatile than gold, and traders must factor this in. However, the technical chart is impressive.

The pennant pattern is typical of a fast-moving market catching its breath before continuing in its underlying direction. A minimum projection is for a subsequent move equal to the preceding move, which started in January 2024 at $22 and ended at $35 in November. From its breakout at $34.00,that gives a target price between $46—$50.

Gold’s chart is also bullish, but with a different pattern.

This month-long consolidation is finding solid support at the 55-day moving average. Cautious investors will worry that a consolidation back to the 12-month MA is likely and therefore hope for the opportunity that presents. But they do not reckon with the oversold situation in Comex futures, which limits that possibility.

This week’s trading has confirmed that Comex has a problem, because gold and silver tend to rise in its trading hours. In a research note, the ECB confirmed what this column has been saying for months: the problem is in stand for deliveries. Since President Trump was elected, 817 tonnes of gold has been stood for delivery, and 8,552 tonnes of silver. The surge in net gold deliveries into Comex warehouses at 645 tonnes to date doesn’t even cover these obligations, let alone any undelivered stand for deliveries not withdrawn from Comex warehouses. In silver’s case, net deliveries amount to 7,146 tonnes, a shortfall of 1,406 tonnes.

Perhaps traders on Comex are waking up to the risk that gold and silver walking out of Comex warehouses may never return. In which case, if London and Switzerland want their gold back to complete their arbitrage trade, where is it going to come from?

In the past, central banks and the Bank for International Settlements have intervened to smooth out market backwardations. But for the central bank community, possession of bullion has become more important than helping out the paper markets: talk to those who witnessed the recent withdrawals for the Bank of England’s vaults, which may or may not have included some of their gold under lease.

Those stand for deliveries appear to be gold and silver disappearing from the physical liquidity upon which the paper house of cards is based. This being the case, the fat lady is yet to sing.

As a footnote, don’t rule out the possibility that the Americans will bomb Iran over the weekend when financial markets are closed. But no one in capital markets seems to care…

3. CHRIS POWELL AND HIS DISPATCHES

LIVE FROM THE VAULT 228

5B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COMMODITIES:PLATINUM, SILVER GOLD’

Metallic Mayhem: Platinum Pops, Silver Squeezes, Gold Brews

by The Market Ear

Monday, Jun 09, 2025 – 9:27

Post the break out

Silver continues moving even higher post the powerful break out.

Source: LSEG Workspace

Zooming out

The longer term silver (weekly) chart is very powerful. The trend channel is intact, and first resistance comes in around the $40 level. Chart 2 shows the trend channel on a shorter term time horizon (daily).

Source: LSEG Workspace

Source: LSEG Workspace

Chasing silver

Silver net non commercials have increased lately, but we are far from seeing speculators getting properly excited…

Source: LSEG Workspace

Precious panic king

Platinum is up around 15-16% over the past sessions. The break out we pointed out last week is extremely powerful. Note RSI is at the highest levels since “forever”. Momentum is massive, so let’s see if we try the big resistance area that is still higher.

Source: LSEG Workspace

New gold

Credit where credit is due, GS nailed the platinum break out move. Recall what they wrote in late May: “Chinese import data – while backward looking – resurrected the narrative of sizeable switching out of Gold. Furthermore, bulls highlighted that slowing electric vehicle adoption could keep diesel car usage higher, spurring demand for Platinum in catalytic converters.” Chart shows the platinum/gold ratio exploding to the upside, trading well above the negative trend line.

Source: LSEG Workspace

Gold brewing

Gold is waiting patiently as we continue to trade inside the triangle like consolidation. The longer term trend line and the 50 day come in slightly lower. A “proper” close above the short term negative trend and things could get dynamic to the upside again.

Source: LSEG Workspace

Chasing big brother

Chart showing gold, silver and platinum over the past year in %.

Source: LSEG Workspace

In case gold revives

Gold has been stuck inside a consolidation over the past two months. Gold volatility has come down sharply during this period. Expressing a break out to the upside in gold via call spreads is attractive given where GVZ is trading. Who knows, maybe they start chasing big brother again…

Source: LSEG Workspace

6 CRYPTOCURRENCY NEWS

ASIAN MARKETS THIS THURSDAY MORNING:

SHANGHAI CLOSED DOWN 26.70 PTS OR 0.79%

//Hang Seng CLOSED DOWN 483,19 PTS OR 2.04%

// Nikkei CLOSED DOWN 396.81 PTS OR 1.02% //Australia’s all ordinaries CLOSED DOWN 0.19%

//Chinese yuan (ONSHORE) CLOSED DOWN AT 7.1898 OFFSHORE CLOSED DOWN AT 7.1937/ Oil UP TO 75.90 dollars per barrel for WTI and BRENT UP TO 77.36 Stocks in Europe OPENED ALL RED

ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP TRADING AT 7.1898 AND WEAK//OFF SHORE YUAN TRADING UP TO 7.1937 AGAINST US DOLLAR/ AND THUS WEAKER

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ASIAN MARKETS THIS FRIDAY MORNING:

SHANGHAI CLOSED DOWN 2.11 PTS OR 0.07%

//Hang Seng CLOSED UP 292.74 PTS OR 1.21%

// Nikkei CLOSED DOWN 85.11 PTS OR 0.22% //Australia’s all ordinaries CLOSED DOWN 0.20%

//Chinese yuan (ONSHORE) CLOSED UP AT 7.1797 OFFSHORE CLOSED UP AT 7.1795/ Oil UP TO 76.02 dollars per barrel for WTI and BRENT UP TO 77.07 Stocks in Europe OPENED ALL GREEN

ONSHORE USA/ YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP TRADING AT 7.1797 AND STRONGER//OFF SHORE YUAN TRADING UP TO 7.1795 AGAINST US DOLLAR/ AND THUS STRONGER

1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS THURSDAY MORNING.7:30 AM

ONSHORE YUAN:   CLOSED DOWN TO 7.1898 (CHINESE COMMUNIST PARTY MANIPULATED)

OFFSHORE YUAN: DOWN TO 7.1937 (CCP MANIPULATED)

SHANGHAI CLOSED DOWN 26.70 PTS OR 0.79%

HANG SENG CLOSED DOWN 483.19 PTS OR 2.04%

2. Nikkei closed DOWN 396.81 PTS OR 1.02%

3. Europe stocks   SO FAR:  ALL RED

USA dollar INDEX DOWN TO  98.54/ EURO FALLS TO 1.1472 DOWN 4 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +1.424//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 145.33…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA

3c Nikkei now  ABOVE 17,000

3d USA/Yen rate now well ABOVE the important 120 barrier this morning

3e Gold DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: DOWN OFFSHORE: DOWN

3f Japan is to buy INFINITE  TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA

Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.

3g Oil UP for WTI and DOWN FOR UP FOR BRENT this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.5330/Italian 10 Yr bond yield DOWN to 3.5320 SPAIN 10 YR BOND YIELD DOWN TO 3.239%

3i Greek 10 year bond yield UP TO 3.336

3j Gold at $3367.70 Silver at: 36.31  1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 1 /100  roubles/dollar; ROUBLE AT 78.50

3m oil into the 75 dollar handle for WTI and  77 handle for Brent/

3n Higher foreign deposits moving out of China//  huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 145.33// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.424% STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE IS NOW UNWINDING.

30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.8172 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9397 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

USA 10 YR BOND YIELD: 4.396 UP 4 BASIS PTS…

USA 30 YR BOND YIELD: 4.891 DOWN 1 BASIS PTS/

USA 2 YR BOND YIELD:  3.939 UP 0 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 39.57

10 YR UK BOND YIELD: 4.5480 UP 5 PTS

10 YR CANADA BOND YIELD: 3.334 DOWN 4 BASIS PTS

5 YR CANADA BOND YIELD: 2.930 DOWN 3 PTS

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YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM

ONSHORE YUAN:   CLOSED UP TO 7.1797 (CHINESE COMMUNIST PARTY MANIPULATED)

OFFSHORE YUAN: DOWN TO 7.1795 (CCP MANIPULATED)

SHANGHAI CLOSED DOWN 2.11 PTS OR 0.07%

HANG SENG CLOSED UP 292.74 PTS OR 0.14%

2. Nikkei closed DOWN 85.11 PTS OR 0.22%

3. Europe stocks   SO FAR:  ALL GREEN

USA dollar INDEX DOWN TO  98.16/ EURO RISES TO 1.1516 UP 5 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +1.413//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 145.49…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA

3c Nikkei now  ABOVE 17,000

3d USA/Yen rate now well ABOVE the important 120 barrier this morning

3e Gold DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: UP OFFSHORE: UP

3f Japan is to buy INFINITE  TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA

Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.

3g Oil UP for WTI and UP FOR UP FOR BRENT this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.5270/Italian 10 Yr bond yield UP to 3.5520 SPAIN 10 YR BOND YIELD DOWN TO 3.221%

3i Greek 10 year bond yield UP TO 3.343

3j Gold at $3355.30 Silver at: 36.06  1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 4 /100  roubles/dollar; ROUBLE AT 78.46

3m oil into the 77 dollar handle for WTI and  77 handle for Brent/

3n Higher foreign deposits moving out of China//  huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 145.49// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.410% STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE IS NOW UNWINDING.

30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.8173 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9441 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

USA 10 YR BOND YIELD: 4.426 UP 3 BASIS PTS…

USA 30 YR BOND YIELD: 4.922 UP 3 BASIS PTS/

USA 2 YR BOND YIELD:  3.954 UP 2 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 39.68

10 YR UK BOND YIELD: 4.5480 UP 5 PTS

10 YR CANADA BOND YIELD: 3.373 UP 4 BASIS PTS

5 YR CANADA BOND YIELD: 2.961 UP 3 PTS

2a New York OPENING REPORT FRIDAY

Oil Prices Extend Losses As Iran Rejects Zero Enrichment As Condition For US Talks

Friday, Jun 20, 2025 – 08:04 AM

A series of headlines, some contradictory, on where things stand with Iran nuclear negotiations with the US, sent oil sliding, then pumping, then extending losses again.

One senior Iranian official told Reuters that Iran is ‘ready’ to discuss limitations on its uranium enrichment, while a quick follow-up headline said “zero enrichment will undoubtedly be rejected” by Iran “especially now, under Israel’s strikes.”

The official said “the role of European powers is now more prominent, as Tehran is unwilling to engage with US amid Israeli attacks. After that glimmer of hope offered for negotiations, the clarification that nothing has in fact change, sent oil dropping further Friday morning.

Oil prices declined on Friday but stayed on track for a third straight weekly increase, following the White House’s postponement of a decision regarding US participation in the Israel-Iran conflict:

Brent crude futures were down $2.57, or around 3.3%, to $76.28 a barrel by 1204 GMT but still set to gain nearly 3% on the week.

According to the latest from Bloomberg:

Israel will complete the task of preventing Iran from gaining nuclear weapons whether or not the US joins the operation, its energy minister said. Iranian President Masoud Pezeshkian said the only way to end the war is to “unconditionally” stop Israel.

And Foreign Minister Abbas Araghchi has clarified just before meeting European officials in Geneva related to EU efforts at mediate that “Iran is not prepared for negotiations with anyone while Israel continues its attacks.”

More Friday and overnight headlines…

* * *

Geopolitics: Middle East War

• Israel will complete the task of preventing Iran from gaining nuclear weapons whether or not the US joins the operation, its energy minister said. Iranian President Masoud Pezeshkian said the only way to end the war is to “unconditionally” stop Israel, according to Bloomberg
• E3/EU-Iran meeting in Geneva expected to occur “this afternoon”, via WSJ’s Norman.
• Israeli Defence Minister Katz has ordered the military to increase attacks on Iranian regime targets within Tehran.
• Iran’s Foreign Minister says they will only hold nuclear talks in the E3 meeting.
• Russia’s Kremlin says dialogue with Ukraine continues expect to agree next week on a date for the next round of talks Ukraine is unpredictable, continue “special military operation”, though would prefer to reach goals by diplomatic needs.

US Involvement

• The White House said, “message directly from the President – based on the fact that there is a significant chance of negotiations with Iran in the near future – I will make a decision on whether to launch [an attack] in the next two weeks.”
• US President Trump had been briefed on both the risks and benefits of bombing Fordow and his mindset was that disabling it was necessary due to the risk of weapons being produced in a relatively short period of time, according to CBS.
• Broadcasting Authority, citing an Israeli source, reported that the US had asked Israel to defer its attack on the Fordow nuclear facility.
• Kann News reported that there was a “possible attack at Fordow”: according to sources, the US had asked Israel to wait until negotiations with Iran had been exhausted.
• US President Trump is to attend a National Security Meeting at 11:00 EDT on Friday.
• US law enforcement officials had stepped up surveillance of Iran-backed operatives in the US, according to CBS sources.
• The White House said Iran was able to produce a nuclear bomb within “a couple of weeks”.
• A White House official told Fox’s Heinrich that the US military had no doubt about the efficacy of bunker busters in eliminating the site at Fordow, and also denied that any options—including tactical nuclear weapons—had been taken off the table.
• The White House Press Secretary said there were no signs that China was getting involved militarily in Iran, according to Reuters.
• The US reportedly believed Iran would build a nuclear bomb if Supreme Leader Khamenei were assassinated and the Fordow facility was attacked, according to The New York Times.

Strikes

• There were reports of Israeli strikes in the Lavizan area of Tehran, where Iranian Supreme Leader Khamenei was reportedly hiding in a bunker, according to i24 journalist Stein.
• An Israeli military spokesman said Israel had attacked the special forces headquarters of the internal security apparatus in Tehran within the last 24 hours, according to Reuters.
• Journalist Horowitz said on X that opposition sources were circulating “unconfirmed” reports claiming that the head of Iran’s military, Abdolrahim Mousavi, had been killed in an Israeli strike.
• The Fars News Agency said Iran had used a new generation of precision missiles in its attack on Israel on Thursday morning, according to Fars.
• The Norwegian Foreign Ministry said an explosion had occurred on Thursday evening in Tel Aviv at the residence of the Norwegian ambassador to Israel, according to Reuters.
• The Jordanian army said an explosives-laden drone had fallen in the Azraq area after it “fell short of its range,” according to Al Hadath.
• Iranian media reported that air defences were activated in Isfahan, according to Al Arabiya.

Diplomacy

• Britain, France, and Germany are to hold talks with Iran’s Foreign Minister on Friday in a last-ditch effort to avert an escalation of conflict in the Middle East and a possible US intervention, according to FT.
• Iran’s Foreign Minister had reached out to European foreign ministers, requesting a meeting with them on Friday, Jerusalem Post reported.
• Trump administration officials are pitching the president’s two-week timeline as an opportunity to allow diplomacy to play out. Special Envoy Witkoff and Iran’s Foreign Minister Araghchi had been in communication in recent days, though there were no plans for the two to meet yet, according to ABC.
• Trump’s special envoy to the Middle East Witkoff will not attend the UK/France/Germany talks with Iran in Geneva on Friday, according to White House officials cited by NBC.
• An Iranian source denied reports of a phone call between Iranian Foreign Minister Araghchi and US presidential envoy Witkoff following Israel’s aggression, according to Iran Nuances.
• The White House Press Secretary said they would see how the EU meeting with the Iranians went tomorrow, according to Reuters.
• US officials said no date had been set for a meeting between US and Iranian officials yet, according to Axios.

US Military and Deployment

• Over the next 10 to 14 days, there were expected to be two aircraft carriers in the Middle East and a third operating in the Mediterranean Sea, according to ABC.

Iranian Actions

• A senior IRGC official said that before the Israeli airstrikes, all enriched uranium had been transferred from the nuclear sites to secret hiding locations, according to i24 journalist Stein.
• Iran’s Tasnim News Agency, quoting an Iranian official, said intelligence had thwarted a major Israeli plot against Iranian Foreign Minister Araqchi in Tehran, according to Sky News Arabia.
• Iraq’s Hezbollah threatened to target US bases and close the Strait of Hormuz if Washington joined strikes on Iran, according to Al Hadath.
• An Israeli official said Iran could likely sustain the current rate of missile fire at Israel for up to five months, provided their missile launchers were not destroyed, according to NBC.
• Israel anticipated attacks from Iran’s proxies across the Middle East, according to Israel Channel 14.
• An Israeli intelligence official said the imminent collapse of the Iranian regime was far from the truth, according to NBC.

Geopolitics: Other

• A Japanese destroyer sailed through the Taiwan Strait after a Chinese jet approached it, according to Nikkei.
• China President Xi met with New Zealand PM Luxon in Beijing, according to CCTV.

2b European opening report FRIDAY

Oil pushed lower after Trump gives two weeks to decide on Iran strikes – Newsquawk US Market Open

Friday, Jun 20, 2025 – 06:16 AM

• US President Trump offered Iran a two-week window to monitor negotiations before deciding on military action.
• European stocks benefit from geopolitical optimism whilst US futures are slightly lower.
• DXY flat, JPY mildly boosted by Y/Y Core CPI beat.
• Two-way action for JGBs after reports suggest Japan plans to cut FY25 superlong JGB issuance by JPY 3.2tln, Gilts gap higher on retail sales but fade.
• Crude curtailed by negotiating updates, European risk tone weighs on gold.
• Looking ahead, US Philly Fed Business Index, Leading Index Change, Canadian Producer Prices & Retail sales, EU Consumer Confidence, Quad witching, Iranian Foreign Minister Araghchi meets with European Ministers, Holidays in Sweden, Finland, New Zealand.

Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

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TRADE

• EU Economy Commissioner Dombrovskis said the EU was ready to take measures with the US if a solution could not be found, but noted that progress was being made in trade talks with Washington, according to Reuters.
• Canadian Prime Minister Carney said Canada would introduce a series of countermeasures to help it respond to Trump-era tariffs. He stated that Canada would adjust its existing counter-tariffs on US steel and aluminium products on 21 July. The level of Canadian counter-tariffs would depend on the progress of talks with the US on a new economic deal. He added that only Canadian producers and producers from trading partners offering Canada tariff-free reciprocal access would be eligible to compete for federal government procurement of steel and aluminium. Canada would adopt additional tariff measures to address risks associated with persistent global overcapacity and unfair trade in the steel and aluminium sectors. He also announced that Canada would establish new tariff rate quotas at 100% of 2024 levels on imports of steel products from non-free trade agreement partners, according to Reuters.
• Chinese Commerce Ministry says its Minister held a video meeting with EU Trade Commissioner on Thursday; had “in-depth” talks on remedy cases such as EVs

EUROPEAN TRADE

EQUITIES

• European bourses (STOXX 600 +0.4%) opened firmer, and are attempting to build on gains, benefiting from the positive mood surrounding geopolitical optimism.
• European sectors are almost entirely in the green, Energy is the sole loser, due to lower oil prices, which is to the benefit of travel and leisure, which gains. Banking stocks lead the charge, buoyed by fresh EU developments that see the European Investment Bank’s annual lending ceiling raised to EUR 100bln.
• US equity futures find themselves marginally in the red, though this is more a function of a slight retreat from the gap-higher seen at the recommencement of trade from Thursday’s holiday as the benchmark digested geopolitical developments, rather than any bearish driver.
• Bloomberg Poll, Indices at end-2025: Euro Stoxx 50 seen at 5,439 (last 5,197.03); DAX 40 seen at 23,488 (last 23,057.38); FTSE 100 8,773 (last 8,791.80)
• Maersk (MAERSKB DC) says “we have made the decision to temporarily pause calling the port of Haifa with Maersk-operated vessels”.
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• DXY is flat and trading in a very tight 98.53-98.70 range, after falling a touch overnight on geopolitical updates which has seen the Dollar lose its risk premia a little. In the prior session, the Dollar slipped after US President Trump offered Iran a two-week window to monitor negotiations before deciding on military action. This sparked a risk-on mood, as it helps to ease some nerves of an imminent attack on Iran and hence an escalation in the Middle East. Data docket today includes US Philly Fed Business Index and Leading Index Change.
• EUR is at the top of the G10 leaderboard, but ultimately just a little stronger vs the Dollar. No specific European-driver for the strength today, so likely on the geopolitical updates from Trump on Thursday (see above) – in brief, should the US choose not to attack Iran, this would be net-negative on crude prices and as such has lifted the Single-Currency today; gains are of course capped given the continued uncertainty. EUR/USD currently trading around the mid-point of a 1.1491-1.1532 range.
• JPY is essentially flat/modestly firmer today but did catch a slight bid following the region’s inflation report. Headline Y/Y printed in-line with expectations whilst the Core metric was a touch above expectations, and in-fact printed the fastest Y/Y pace since January 2023. Following the release of the Japanese CPI report, USD/JPY fell from 145.29 to a session trough of 145.16, but now trades around 145.30.
• GBP is incrementally firmer vs the USD but posts modest losses vs the EUR. Cable saw was mildly pressured on the release of a very weak Retail Sales report, whereby the M/M metrics fell beneath the most pessimistic of analysts’ forecasts; printing at -2.7% (exp. -0.5%). GBP/USD fell around 0.2% to make a fresh trough at 1.34470 in the hour after the Retail Sales report. Thereafter, the Pound has been trading relatively steady for most of the morning. Upside levels include its 21 DMA at 1.3518.
• Antipodeans are incrementally firmer/flat vs the Dollar in what has been a lacklustre session so far. Specifics for the Aussie and Kiwi have been on the lighter side overnight.
• PBoC set USD/CNY mid-point at 7.1695 vs exp. 7.1801 (prev. 7.1729); strongest CNY fix since March 17th
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• JGBs are essentially flat but did see some marked action in a 139.32 to 139.50 band as draft reporting and commentary emerges from the Ministry of Finance Meeting. In brief, Bloomberg citing a draft reported that Japan intends to cut super long issuance by JPY 3.2tln, by cutting JPY 100bln from 30yr and 40yr auctions and 200bln from the 20y; consensus was for 100bln in each tenor.
• USTs incrementally firmer/flat as it returns to Cash trade following Thursday’s holiday. Contained overnight, but was then pressured in the European morning, potentially as traders continue to digest and factor in the latest geopolitical optimism. Downside limited so far, and USTs remain above Thursday’s 110-22+ base.
• Bunds were modestly firmer for much of the morning. Lifted by around 30 ticks on the UK retail metrics this morning (see Gilts). Peaked at a 131.33 high but has since been drifting and now finds itself back marginally below the figure, and by extension in proximity to the earlier 130.88 low; now essentially unchanged on the session.
• Gilts gapped higher by 18 ticks, following an abysmal set of retail data. The series saw sales volumes fall across the board, the most pronounced move was in food and while that is somewhat skewed by an unfavourable prior, the series is nonetheless dire. While bid initially, and to a 93.05 peak, the move proved somewhat short-lived as Gilts also digested the latest PSNB data. A series that featured the highest May borrowing on record, ex-COVID; metrics that offset the dovish impulse from Retail Sales. Overall, Gilts now near-enough flat and at the lower-end of the day’s limited 92.83 to 93.05 band.
• Japan plans to cut FY25 superlong JGB issuance by JPY 3.2tln, via Bloomberg citing a plan; Japan to cut 20yr bond issuance by JPY 200bln (exp. JPY 100bln); cut 30yr by JPY 100bln (exp. JPY 100bln); cut 40yr by JPY 100bln (exp. JPY 100bln), per auction. Japan to offset cuts by boosting the issue of 5yr and 2yr notes and T-bill.
• Japan Finance Ministry Official does not deny the possibility of considering buying back some JGBs; not in the process of implementing buybacks right now; will need to consider various factors if steps are decided.
• Click for a detailed summary

COMMODITIES

• Brent suffers losses of around USD 2/bbl on optimism of Middle-East negotiations, with Iran-E3 meetings today, and primarily after the two-week window Trump has provided. Note, while Brent is lower, WTI posts gains of USD 0.40/bbl, a discrepancy due to the lack of settlement amid the US holiday on Wednesday. Geopolitical updates this morning light, aside from, US Secretary of State Rubio telling his French counterpart that the US is ready for direct contact with the Iranians at any time, however the Iranian Foreign Minister noted that the nation would not speak with the US, while Israeli attacks continue.
• Spot gold is suffering from the generally positive risk environment, currently holding around the USD 3350/oz mark but has been USD 10/oz lower; given the geopolitical relief, mentioned in the crude section. XAU has taken out the 21-DMA at USD 3345/oz, the next level comes via the June 12th low of USD 3338/oz.
• Base metals are in the red and failing to benefit from the positive European mood after the red metal failed to coat-tail on the broadly firmer European risk tone. Copper currently tests the USD 9,600 mark, and resides within USD 9,565.45-9,654.6/t bounds.
• Citi said that if 1.1mln BPD of Iranian oil exports were disrupted—using May exports as a baseline—it estimated prices should rise by about 15–20%, compared with an average of USD 65/bbl in the month before the Iran-Israel conflict escalated on 12 June. A 1.1mln BPD disruption implied Brent prices should be in the USD 75–78/bbl range. Citi added that prices reaching USD 90/bbl—its current bullish case, short of a major escalation in oil transit—would imply a disruption of 3mln BPD over a multi-month period, according to Reuters.
• India restricted the import of alloys of palladium, rhodium, and iridium containing over 1% gold by weight, according to Reuters.
• Click for a detailed summary

NOTABLE DATA RECAP

• UK GfK Consumer Confidence (Jun) -18.0 vs. Exp. -20.0 (Prev. -20.0)
• UK Retail Sales MM (May) -2.7% vs. Exp. -0.5% (Prev. 1.2%, Rev. 1.3%); Ex-Fuel MM (May) -2.8% vs. Exp. -0.5% (Prev. 1.3%, Rev. 1.4%)
• UK Retail Sales YY (May) -1.3% vs. Exp. 1.7% (Prev. 5.0%, Rev. 5.0%); Ex-Fuel YY (May) -1.3% vs. Exp. 1.8% (Prev. 5.3%, Rev. 5.2%)
• UK PSNB, GBP (May) 17.686B GB vs. Exp. 16.2B GB (Prev. 20.155B GB, Rev. 20.052B GB)
• German Producer Prices MM (May) -0.2% vs. Exp. -0.3% (Prev. -0.6%); YY (May) -1.2% vs. Exp. -1.2% (Prev. -0.9%)

NOTABLE EUROPEAN HEADLINES

• BoE’s Bailey says “we are living in a world of much larger economic shocks which have their origins outside economic causes”.

NOTABLE US HEADLINES

• Punchbowl reports: Democratic staffers are meeting with the parliamentarian’s office today, GOP aides will also have their own meetings. After that, full Byrd Bath arguments with GOP and Democratic staffers will start Sunday, according to Punchbowl source.

GEOPOLITICS

EUROPEAN HOURS

• E3/EU-Iran meeting in Geneva expected to occur “this afternoon”, via WSJ’s Norman.
  • Israeli Defence Minister Katz has ordered the military to increase attacks on Iranian regime targets within Tehran.
  • Iran’s Foreign Minister says they will only hold nuclear talks in the E3 meeting.
  • Russia’s Kremlin says dialogue with Ukraine continues expect to agree next week on a date for the next round of talks Ukraine is unpredictable, continue “special military operation”, though would prefer to reach goals by diplomatic needs.

APAC/US HOURS

US Involvement

• The White House said, “message directly from the President – based on the fact that there is a significant chance of negotiations with Iran in the near future – I will make a decision on whether to launch [an attack] in the next two weeks.”
• US President Trump had been briefed on both the risks and benefits of bombing Fordow and his mindset was that disabling it was necessary due to the risk of weapons being produced in a relatively short period of time, according to CBS.
• Broadcasting Authority, citing an Israeli source, reported that the US had asked Israel to defer its attack on the Fordow nuclear facility.
• Kann News reported that there was a “possible attack at Fordow”: according to sources, the US had asked Israel to wait until negotiations with Iran had been exhausted.
• US President Trump is to attend a National Security Meeting at 11:00 EDT on Friday.
• US law enforcement officials had stepped up surveillance of Iran-backed operatives in the US, according to CBS sources.
• The White House said Iran was able to produce a nuclear bomb within “a couple of weeks”.
• A White House official told Fox’s Heinrich that the US military had no doubt about the efficacy of bunker busters in eliminating the site at Fordow, and also denied that any options—including tactical nuclear weapons—had been taken off the table.
• The White House Press Secretary said there were no signs that China was getting involved militarily in Iran, according to Reuters.
• The US reportedly believed Iran would build a nuclear bomb if Supreme Leader Khamenei were assassinated and the Fordow facility was attacked, according to The New York Times.

Strikes

• There were reports of Israeli strikes in the Lavizan area of Tehran, where Iranian Supreme Leader Khamenei was reportedly hiding in a bunker, according to i24 journalist Stein.
• An Israeli military spokesman said Israel had attacked the special forces headquarters of the internal security apparatus in Tehran within the last 24 hours, according to Reuters.
• Journalist Horowitz said on X that opposition sources were circulating “unconfirmed” reports claiming that the head of Iran’s military, Abdolrahim Mousavi, had been killed in an Israeli strike.
• The Fars News Agency said Iran had used a new generation of precision missiles in its attack on Israel on Thursday morning, according to Fars.
• The Norwegian Foreign Ministry said an explosion had occurred on Thursday evening in Tel Aviv at the residence of the Norwegian ambassador to Israel, according to Reuters.
• The Jordanian army said an explosives-laden drone had fallen in the Azraq area after it “fell short of its range,” according to Al Hadath.
• Iranian media reported that air defences were activated in Isfahan, according to Al Arabiya.

Diplomacy

• Britain, France, and Germany are to hold talks with Iran’s Foreign Minister on Friday in a last-ditch effort to avert an escalation of conflict in the Middle East and a possible US intervention, according to FT.
• Iran’s Foreign Minister had reached out to European foreign ministers, requesting a meeting with them on Friday, Jerusalem Post reported.
• Trump administration officials are pitching the president’s two-week timeline as an opportunity to allow diplomacy to play out. Special Envoy Witkoff and Iran’s Foreign Minister Araghchi had been in communication in recent days, though there were no plans for the two to meet yet, according to ABC.
• Trump’s special envoy to the Middle East Witkoff will not attend the UK/France/Germany talks with Iran in Geneva on Friday, according to White House officials cited by NBC.
• An Iranian source denied reports of a phone call between Iranian Foreign Minister Araghchi and US presidential envoy Witkoff following Israel’s aggression, according to Iran Nuances.
• The White House Press Secretary said they would see how the EU meeting with the Iranians went tomorrow, according to Reuters.
• US officials said no date had been set for a meeting between US and Iranian officials yet, according to Axios.

US Military and Deployment

• Over the next 10 to 14 days, there were expected to be two aircraft carriers in the Middle East and a third operating in the Mediterranean Sea, according to ABC.

Iranian Actions

• A senior IRGC official said that before the Israeli airstrikes, all enriched uranium had been transferred from the nuclear sites to secret hiding locations, according to i24 journalist Stein.
• Iran’s Tasnim News Agency, quoting an Iranian official, said intelligence had thwarted a major Israeli plot against Iranian Foreign Minister Araqchi in Tehran, according to Sky News Arabia.
• Iraq’s Hezbollah threatened to target US bases and close the Strait of Hormuz if Washington joined strikes on Iran, according to Al Hadath.
• An Israeli official said Iran could likely sustain the current rate of missile fire at Israel for up to five months, provided their missile launchers were not destroyed, according to NBC.
• Israel anticipated attacks from Iran’s proxies across the Middle East, according to Israel Channel 14.
• An Israeli intelligence official said the imminent collapse of the Iranian regime was far from the truth, according to NBC.

OTHERS

• A Japanese destroyer sailed through the Taiwan Strait after a Chinese jet approached it, according to Nikkei.
• China President Xi met with New Zealand PM Luxon in Beijing, according to CCTV.

CRYPTO

• Bitcoin a little firmer and trades just shy of USD 106k.
• Norway Government will investigate a temporary ban on power-intensive crypto mining.

APAC TRADE

• APAC stocks initially saw directionless trade following a non-existent lead from Wall Street amid the Juneteenth market holiday. Nevertheless, geopolitics remained in the spotlight as US President Trump now has to decide whether or not to join Israel’s offensive against Iran’s nuclear facilities within the next two weeks, contingent on negotiations. Sentiment eventually turned mostly firmer with notable Israel-Iran newsflow on the lighter side.
• ASX 200 was subdued with miners dragging on the index whilst losses in financials also kept upside capped.
• Nikkei 225 was buoyed by recent JPY weakness but came off best levels in tandem with USD/JPY after Japanese Core CPI topped expectations, whilst stale BoJ minutes (from two meetings ago) were also released.
• Hang Seng and Shanghai Comp were initially choppy with the indices trimming modest earlier gains despite relatively quiet newsflow. The PBoC LPR setting was a non-event, with the central bank maintaining the 1-year and 5-year LPRs as expected.

NOTABLE ASIA-PAC HEADLINES

• The PBoC maintained its 1-year Loan Prime Rate (LPR) at 3.00% and its 5-year LPR at 3.50%, as expected, according to Reuters.
• Japanese Finance Minister Kato said they had observed spikes in super‑long JGB yields recently, according to Reuters.
• Minutes from the BoJ’s 30 April – 1 May meeting showed that many members said they must carefully scrutinise each nation’s trade policy and its developments, given the heightening downside risks to the economy and prices, according to Reuters.
• PBoC injected 161.2bln via 7-day reverse repos with the rate maintained at 1.40%.
• BoJ Governor Ueda says Japan’s economy is recovering moderately albeit with some weakness, underlying inflation to gradually heighten after a pause.

DATA RECAP

• Japanese CPI, Core Nationwide YY (May) 3.7% vs. Exp. 3.6% (Prev. 3.5%); fastest Y/Y pace since Jan 2023.
• Japanese CPI, Overall Nationwide (May) 3.5% (Prev. 3.6%)
• South Korean PPI Growth YY (May) 0.3% (Prev. 0.9%, Rev. 0.8%)
• South Korean PPI Growth MM (May) -0.4% (Prev. -0.1%, Rev. -0.2%)

2c) Asian opening report

thursday morning

Fed’s dot plot composition saw hawkish shift; US reportedly eyes Iran strike in the coming days – Newsquawk Europe Market Open

Thursday, Jun 19, 2025 – 01:33 AM

• APAC stocks traded subdued following the mixed close on Wall Street, where traders juggled the FOMC alongside geopolitics, with markets apprehensive as US President Trump keeps participants in the dark about his touted move on Iran.
• The Federal Reserve left rates unchanged at 4.25-4.5%, as was widely expected, with the 2025 dot plot left unchanged although the composition saw a hawkish shift; Fed Chair Powell pushed back on any dovish interpretation of policy in the short term.
• The US is reportedly eyeing this weekend as a possibility for an attack on Iran and is preparing for a possible strike in the coming days, according to Bloomberg.
• US President Trump is reportedly getting comfortable with the idea of taking out Iran’s Fordow nuclear facility with multiple strikes. “There was now a movement to get ready for this,” ABC sources said.
• US President Trump is scheduled to be in the Situation Room for an intelligence briefing at 11:30 EDT on Thursday, according to CBS’ Jacobs.
• European equity futures are indicative of a slightly softer open with the Euro Stoxx 50 -0.2% after cash closed down -0.4% on Wednesday.
• Looking ahead, highlights include BoE, SNB, Norges Bank, and CBRT, Speakers include ECB’s Lagarde, Nagel, de Guindos, SNB’s Jordan, Norges Bank’s Bache, supply from Spain and France.
• Holiday: On Thursday 19th June, on account of the Juneteenth Holiday, the Desk will shut at 18:00BST/13:00EDT and re-open the same day for the beginning of Asia-Pac coverage at 22:00BST/17:00EDT.

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US TRADE

EQUITIES

• US stocks ended the day with marginal gains, albeit with outperformance in the Russell, while geopolitics, Fed, and Trump dominated the tape.
• As a reminder, US cash markets will be closed on Thursday amid Juneteenth Holiday.
• SPX U/C at 5,981, NDX U/C at 21,720, DJI -0.10% at 42,172, RUT +0.52% at 2,113
• Click here for a detailed summary.

NOTABLE HEADLINES

• BoC Governor Macklem said the world had already been becoming more fragmented before Trump was elected, so businesses were still facing uncertainty, according to Reuters.
• EU antitrust regulators were set to open a full-scale investigation into the USD 36bln Mars bid for Kellanova (K), according to Reuters sources, as regulators were concerned about Mars’ high market share in certain products in some EU countries.
• Microsoft (MSFT) is planning thousands more job cuts aimed at salespeople, Bloomberg reported.
• Meta (META) is reportedly in talks to hire a former GitHub CEO to join AI efforts, according to The Information.

TRADE/TARIFFS

• The Chinese Ambassador to the US called for US tariffs on China to be removed completely, according to Bloomberg.
• German Chancellor Merz expressed hope for an agreement in the US-EU tariff row in the coming days, according to Reuters.

FOMC

STATEMENT AND SEP

• The Federal Reserve left rates unchanged at 4.25-4.5%, as was widely expected, with the 2025 dot plot left unchanged at 3.9%, which signals 50bps of cuts this year, although the 2026 dot plot was revised higher to 3.6% from 3.4% and 2027 was revised up to 3.4% from 3.1%. However, there was some discourse over the number of cuts seen this year. Seven members see no cuts this year, vs. four in March, while two see worth 25bps of cuts, down from four in March, eight see 50bps (prev. nine), and two see 75bps of easing (unchanged from March).
• Highlighting the close proximity for the median dot, 9 members see FFR above the median, and 10 members see FFR at the median or below. GDP forecasts were cut for both 2025 and 2026 to 1.4% (prev. 1.7%) and 1.6% (exp. 1.8%), respectively, while unemployment rate forecasts ticked higher across all time horizons ex. long-run. Headline and Core PCE inflation dots were also notably lifted with the 2025-end headline rate seen at 3.0% (prev. 2.7%) and 2026 at 2.4% (prev. 2.2%).
• Regarding the statement, the Committee said the uncertainty about the outlook has “diminished further but remains elevated”, a change from the prior “increased further”, and it also removed the stagflation warning line that “risks of higher unemployment and higher inflation have risen”.

PRESS CONFERENCE

• Fed Chair Powell largely echoed familiar remarks in that a patient and wait-and-see approach is appropriate. He also toed the usual line post SEPs that projections are subject to uncertainty, and are not a set plan.
• He recommended focusing on the near-term projections due to the difficulty of providing longer-term forecasts. Looking ahead, Fed Chair Powell said the time will come when they have more confidence, but he cannot say exactly when that will be.
• He stressed that as long as they have the kind of labour market they have, and inflation is coming down, the right thing to do is hold rates. Powell expects to learn a great deal more over the summer, adding they will make smarter decisions if they wait a “couple of months”.
• Powell noted inflation has been favourable over the last three months, but he expects to see more tariff impacts in the coming months and expects businesses to pass on costs to consumers, again stressing this is why the Fed need to be patient. Powell said they have to keep rates high to get inflation all the way down, and he described policy as “modestly restrictive”, noting it is not very restrictive. Powell in May said, “Policy is sort of modestly or moderately restrictive”.

REACTION

• The unchanged 2025 dot plot initially resulted in gains in stocks and Treasuries, alongside a Dollar sell-off. However, moves had started to pare as the hawkish composition of the 2025 dot plot was digested, while the 2026 and 2027 dots were revised up. Meanwhile, inflation projections were revised up, growth forecasts were revised down and unemployment forecasts were revised higher, likely to incorporate the expected impact of tariffs.
• In Powell’s presser, he largely echoed familiar remarks in that a patient and wait-and-see approach is appropriate, and that they would learn more over the summer to make smarter decisions, weighing on T-notes, stocks and supporting the Dollar. However, Trump managed to steal the limelight through the Fed and markets saw pronounced downside in the crude complex and an upside in indices as he said he may meet with Iran.
• US President Trump posted critical language of Fed Chair Powell; “Too Late—Powell is the WORST. A real dummy, who’s costing America $Billions!”

APAC TRADE

EQUITIES

• APAC stocks traded subdued following the mixed close on Wall Street, where traders juggled the FOMC alongside geopolitics, with markets apprehensive as US President Trump keeps participants in the dark about his touted move on Iran.
• ASX 200 saw its losses cushioned by a recovery in gold miners. The index came off highs after employment surprisingly contracted.
• Nikkei 225 marginally underperformed with USD/JPY briefly dipping under 145.00 and a trade deal with the US proving elusive.
• Hang Seng and Shanghai Comp were subdued in tandem with the broader risk tone, with China-specific newsflow once again taking a back seat to geopolitics.
• US equity futures were subdued following the choppiness seen during the Fed, with attention overnight on geopolitics. Futures saw some weakness on reports via ABC that US President Trump was getting comfortable with the idea of taking out Iran’s Fordow nuclear facility with multiple strikes. Another leg lower was seen as Bloomberg reported that the US was reportedly eyeing this weekend as a possibility for an Iran attack and was preparing for a possible strike in the coming days.
• European equity futures are indicative of a slightly softer open with the Euro Stoxx 50 -0.2% after cash closed down -0.4% on Wednesday.

FX

• DXY was modestly firmer, holding the bias seen post-FOMC, which initially resulted in a dovish reaction amid the 2025 dot plot being maintained, albeit with a hawkish shift in the composition. Afterwards, Fed Chair Powell pushed back on any dovish interpretation of policy in the short term, noting they would have to keep rates high to bring inflation all the way down, and said they would learn more over the summer when they could make smarter decisions. Overnight, the index saw some upticks and eventually climbed above 99.00 following reports that the US was reportedly eyeing this weekend as a possibility for an Iran attack, and was preparing for a possible strike in the coming days.
• EUR/USD saw slight weakness, but more so amid the upward bias in the Dollar, with the pair dipping back under the 1.1500 level in late US trade before breaching Wednesday’s low and finding support at 1.1450.
• GBP/USD hovered around the 1.3400 mark as traders gear up for the latest BoE policy announcement, in which the MPC was widely expected to keep policy steady with dovish dissent from Dhingra and Taylor.
• USD/JPY oscillated on either side of 145.00, with broader market sentiment cautious amid the fluid geopolitical landscape. USD/JPY saw its 21 DMA at 144.10 and 50 DMA at 144.01.
• Antipodeans were both softer, as their high-beta properties kept the pairs subdued amid the broader cautious mood. AUD/USD was also hampered by jobs data showing a surprise shed of jobs, driven by part-time roles. NZD saw deeper losses despite Q1 New Zealand GDP largely printing above forecasts, with downside momentum accelerating on a breach of 0.6000.
• PBoC set USD/CNY mid-point at 7.1729 vs exp. 7.1916 (prev. 7.1761)
• Brazilian Selic Interest Rate 15.0% vs. Exp. 14.75% (Prev. 14.75%); BCB sees the end of a tightening cycle, and will not hesitate to raise rates if appropriate.

FIXED INCOME

• 10yr UST futures saw losses as Fed Chair Powell pushed back on near-term rate cuts, but were underpinned overnight by the aforementioned geopolitics, with upticks seen amid reports that the US was preparing for a strike on Iran in the coming days.
• Bund futures caught up to some of the Fed-induced losses, but the downside was limited as markets remained anxious with the US reportedly preparing to strike Iran.
• 10yr JGB futures edged higher, with desks citing haven demand amid the Middle Eastern tensions, while Japan’s MoF was gearing up to hold a JGB primary dealers’ meeting on 20th June. Downticks in contracts were seen as Tokyo trade resumed and traders reacted to Reuters sources suggesting Japan plans to cut super‑long bond sales by 10 % to ease market concerns. A knee-jerk higher was then seen on the 5-year JGB auction which saw the highest cover since 2023.
• US Treasury Holdings (April, USD): China 757bln (prev. 765bln), Japan 1.135tln (prev. 1.131tln), UK 808bln (prev. 779bln).
• Japan sold JPY 2.4tln 5yr JGBs; b/c 4.58x (prev. 3.19x), average yield 0.9820% (prev. 0.9800%).
• Japan said to plan to cut super‑long bond sales by 10% to ease market concerns; Japan is set to cut scheduled JGB sales to the market by JPY 500bln from the initial plan to JPY 171.8tln in FY2025/2026, according to a draft revised plan cited by Reuters. It plans to cut sales of 20- and 30-year bonds by JPY 900bln each, to JPY 11.1tln and JPY 8.7tln, respectively, in FY2025/2026. The government also aimed to increase JGB sales to households by JPY 500bln to JPY 5.1tln, and to raise sales of 2-year JGBs, as well as one-year and six-month treasury discount bills, by JPY 600bln each, according to Reuters.

COMMODITIES

• Crude futures were subdued following a choppy Wednesday and amid Dollar strength, with some upside overnight seen on reports via ABC that US President Trump was getting comfortable with the idea of taking out Iran’s Fordo nuclear facility with multiple strikes: “There is now a movement to get ready for this.” Another leg higher was seen as Bloomberg reported that the US was said to be eyeing this weekend as a possibility for an Iran attack and was preparing for a possible strike in the coming days.
• Spot gold was buoyed overnight by the aforementioned geopolitics following post-Fed weakness.
• Copper futures were subdued in lockstep with the broader risk tone across markets.
• US EIA- Nat Gas, Change Bcf w/e 95.0bcf vs. Exp. 98.0bcf (Prev. 109.0bcf)
• Goldman Sachs said that following the rise in Brent to USD 76–77/bbl, it estimated a geopolitical risk premium of around USD 10/bbl. While its base case remained that Brent would decline to around USD 60/bbl in Q4, assuming no supply disruptions, the USD 10/bbl premium appeared justified in light of its lower Iran supply scenario—where Brent spiked just above USD 90/bbl—and in tail scenarios where broader regional oil production or shipping was negatively affected, according to Reuters.

CRYPTO

• Bitcoin traded within a narrow range of around USD 105k.
• White House crypto czar Sacks said the crypto bill was ‘very close’ and that the stablecoin bill would create demand for US dollars, according to Reuters.
• US President Trump posted “The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets…The House will hopefully move LIGHTNING FAST, and pass a “clean” GENIUS Act. Get it to my desk, ASAP”.

NOTABLE ASIA-PAC HEADLINES

• HKMA maintains its base rate at 4.75%, as expected (in lockstep with the Fed).
• Magnitude 6 earthquake strikes off coast of Hokkaido, Japan region according to GFZ.
• PBoC injected CNY 203.5bln via 7-day reverse repos with the rate maintained at 1.40%.

DATA RECAP

• New Zealand GDP Exp Based QQ, SA (Q1) 0.9% vs. Exp. 0.7% (Prev. 0.8%, Rev. 0.6%)
• New Zealand GDP Prod Based QQ, SA (Q1) 0.8% vs. Exp. 0.7% (Prev. 0.7%, Rev. 0.5%)
• New Zealand GDP Prod Based YY, SA (Q1) -0.7% vs. Exp. -0.8% (Prev. -1.1%, Rev. -1.3%)
• New Zealand GDP Prod Based, Ann Avg (Q1) -1.1% vs. Exp. -1.0% (Prev. -0.5%, Rev. -0.6%)
• Australian Employment (May) -2.5k vs. Exp. 22.5k (Prev. 89.0k)
• Australian Unemployment Rate (May) 4.1% vs. Exp. 4.1% (Prev. 4.1%)
• Australian Participation Rate (May) 67.0% vs. Exp. 67.1% (Prev. 67.1%)
• Australian Full Time Employment (May) 38.7k (Prev. 59.5k)

GEOPOLITICS

Strikes Headlines

• Heavy explosions had rocked Isfahan, Shiraz, and Kermanshah early on Thursday, eyewitnesses told Iran International, shortly after Iran had launched a new missile barrage against Israel.
• Israel’s airstrikes on Iran had likely set back the country’s nuclear programme by a few months, according to NBC sources.
• The Israeli military issued a warning on social media early on Thursday, in Persian, calling for people to leave Iran’s Arak nuclear complex and the surrounding area, stating it was conducting an operation there, according to Reuters.
• An IDF spokesman said they would continue to strike nuclear reactors in Iran, Al Jazeera reported.
• Iran reportedly thwarted a large-scale attack on its banking network, according to Fars.
• Israel is ready to continue attacking Iran, even without US participation, according to Al Arabiya.
• Israeli military official said several Iranian missiles hit civilian population centres, including a hospital in southern Israel, after dozens of missiles launched at Israel, according to Reuters.

US Involvement Headlines

• US President Trump is scheduled to be in the Situation Room for an intelligence briefing at 11:30 EDT on Thursday, according to CBS’ Jacobs.
• The US is reportedly eyeing this weekend as a possibility for an attack on Iran and is preparing for a possible strike in the coming days, according to Bloomberg.
• US President Trump is reportedly getting comfortable with the idea of taking out Iran’s Fordow nuclear facility with multiple strikes. “There was now a movement to get ready for this,” ABC sources said. “There had been no response from the Iranians regarding ongoing nuclear talks, likely because of the way Trump had demanded an unconditional surrender,” they added.
• US President Trump had reviewed attack plans for Iran but was holding off to see if Tehran stepped back from its nuclear programme, a person familiar with the matter told CNN.
• Following the Situation Room meeting, President Trump told top advisers that he had approved attack plans for Iran that were presented to him, but said he was waiting to see if Iran would be willing to discuss ending its nuclear programme, according to ABC sources.
• US President Trump had reportedly privately approved attack plans for Iran on Tuesday but withheld the final order, according to WSJ sources. “President Trump told senior aides late Tuesday that he approved of attack plans for Iran, but was holding off on giving the military the final order to see if Tehran would abandon its nuclear programme,” three people familiar with the deliberations said, via a WSJ reporter.
• US President Trump reportedly wanted to ensure that any attack on Iran was truly necessary, would not drag the US into a prolonged war in the Middle East, and—most importantly—would actually achieve the objective of destroying Iran’s nuclear programme, according to Axios. One option under consideration was a risky commando raid. Israeli special forces had carried out such an operation last September, albeit on a smaller scale, when they destroyed an underground missile factory in Syria by planting and detonating explosives. A US official said the Israelis had told the Trump administration that while they might not be able to reach deep enough into the mountain with bombs, they might “do it with humans.”
• CENTCOM Commander Kurilla met with President Trump and briefed him on the military option, Jerusalem Post reported.
• A US official told Al Jazeera that US forces in the Middle East had taken maximum security measures and that none of the B-2 bombers had yet headed to the region.
• Israel estimated that the US would join the attack on Iran and the Fordow nuclear facility, according to Sky News Arabia citing the Israeli Broadcasting Authority.
• The army is at the peak of its preparations for the US to enter the war on Iran, according to Al Hadath citing Israeli broadcasting.
• Israel’s Channel 12, citing a source, reported that US air defence systems had intercepted the latest batch of Iranian missiles, according to Al Jazeera.
• People with ties to the White House continued to believe — barring a 180 from the Iranians — that a US strike was possibly coming by the weekend, according to FBN’s Gasparino.
• A senior Iranian official said any direct US entry onto the front line would be met with an unprecedented threat to enemy ships, via Al Jazeera.

Diplomacy Headlines

• An Iranian official from the Foreign Ministry, who asked not to be named, said that Iran would accept President Trump’s offer to meet soon, according to The New York Times.
• The Iranians had conveyed a message to the Qataris, who, together with the Omanis, were trying to mediate for a ceasefire, saying they were willing to talk in order to reach an agreement with the US, but that Israel needed to “calm things down”, via Jerusalem Post.
• The Iranian Foreign Ministry denied the arrival of an Iranian negotiating delegation to the Omani capital, Muscat, according to Sky News Arabia.
• The EU, France, Germany, and Britain will reportedly hold talks with the Iranian foreign minister on Friday in Geneva, according to Reuters sources.
• US President Trump said he would hold a meeting to discuss the Iran-Israel situation. He stated that Iran wanted to meet and that “anything could happen,” but he had not made a final decision yet. He remarked that Israel was doing “pretty well” and had discussed Iran with a Pakistani army official. He said he had told Israeli PM Netanyahu to continue and that they would meet shortly in the operating room, where he had ideas on what they were going to do. “I make my decisions at the last minute,” he added. Trump said he believed Iran was only a few weeks away from having a nuclear weapon. When asked about the Middle East, he said, “I don’t want to get involved.” He also stated that he believed Iran would use a nuclear weapon if it had one. On acting against Fordow, he said he had not made a decision. He noted that a deal could still happen and that he had not closed the door on meeting with Iran. He added that his supporters did not want to see Iran acquire a nuclear weapon. He suggested that fighting might be necessary to block Iran’s nuclear ambitions and that they were aiming for total victory — meaning no nuclear weapon. He concluded that if Israel did a good job, they would not need to fight, according to Reuters.

RUSSIA-UKRAINE

• Russian President Putin said Russia is open to talks with Europe as a whole. He stated, “We considered Germany and other European states not as neutral states, but as those who supported Ukraine and were participants in military actions,” according to Reuters.
• Russian President Putin said he was ready to meet anyone in Ukraine, including Ukrainian President Zelensky. He added that he was prepared to meet the head of Ukraine at the final stage of negotiations, according to Reuters.
• Russian President Putin said they are ready for substantive talks with Ukraine on the principles of a peaceful settlement. He noted that the negotiating teams were in contact and that the next meeting was possible after 22 June, according to Reuters.

EUROPE

NOTABLE HEADLINES

• ECB’s Nagel said the ECB’s mission was more or less accomplished, according to Reuters.
• SNB Financial Stability Report: Economic and financial conditions relevant for the Swiss financial sector have deteriorated over the past 12 months.

FRIDAY

Crude Slips and European equity futures shine as Trump gives two weeks to decide on Iran strikes – Newsquawk Europe Market Open

Friday, Jun 20, 2025 – 01:34 AM

• APAC stocks initially saw directionless trade following a non-existent lead from Wall Street amid the Juneteenth market holiday.
• US President Trump offered Iran a two-week window to monitor negotiations before deciding on military action.
• APAC sentiment eventually turned mostly firmer with notable Israel-Iran newsflow on the lighter side.
• Japanese Core CPI printed above forecasts; PBoC maintained its 1-year LPR at 3.00% and its 5-year LPR at 3.50%, as expected.
• European equity futures are indicative of a firmer open with the Euro Stoxx 50 future +0.9% after cash closed -1.3% on Thursday.
• Looking ahead, highlights include UK PSNB, Retail sales, US Philly Fed Business Index, Leading Index Change, Canadian Producer Prices & Retail sales, EU Consumer Confidence, Quad witching, Chinese LPRs, Iranian Foreign Minister Araghchi meets with European Ministers, Speakers include ECB Governing Council Macroprudential Forum, BoJ’s Ueda, Holidays in Sweden, Finland, New Zealand.

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US TRADE – Closed for Juneteenth Holiday

NOTABLE HEADLINES

• US President Trump posted “Too many non-working holidays in America. It is costing our Country $BILLIONS OF DOLLARS to keep all of these businesses closed. The workers don’t want it either!”

TRADE/TARIFFS

• EU Economy Commissioner Dombrovskis said the EU was ready to take measures with the US if a solution could not be found, but noted that progress was being made in trade talks with Washington, according to Reuters.
• Canadian Prime Minister Carney said Canada would introduce a series of countermeasures to help it respond to Trump-era tariffs. He stated that Canada would adjust its existing counter-tariffs on US steel and aluminium products on 21 July. The level of Canadian counter-tariffs would depend on the progress of talks with the US on a new economic deal. He added that only Canadian producers and producers from trading partners offering Canada tariff-free reciprocal access would be eligible to compete for federal government procurement of steel and aluminium. Canada would adopt additional tariff measures to address risks associated with persistent global overcapacity and unfair trade in the steel and aluminium sectors. He also announced that Canada would establish new tariff rate quotas at 100% of 2024 levels on imports of steel products from non-free trade agreement partners, according to Reuters.

APAC TRADE

EQUITIES

• APAC stocks initially saw directionless trade following a non-existent lead from Wall Street amid the Juneteenth market holiday. Nevertheless, geopolitics remained in the spotlight as US President Trump now has to decide whether or not to join Israel’s offensive against Iran’s nuclear facilities within the next two weeks, contingent on negotiations. Sentiment eventually turned mostly firmer with notable Israel-Iran newsflow on the lighter side.
• ASX 200 was subdued with miners dragging on the index whilst losses in financials also kept upside capped.
• Nikkei 225 was buoyed by recent JPY weakness but came off best levels in tandem with USD/JPY after Japanese Core CPI topped expectations, whilst stale BoJ minutes (from two meetings ago) were also released.
• Hang Seng and Shanghai Comp were initially choppy with the indices trimming modest earlier gains despite relatively quiet newsflow. The PBoC LPR setting was a non-event, with the central bank maintaining the 1-year and 5-year LPRs as expected.
• US equity futures were softer and played catchup to some of the global equity declines on Thursday, but were well off the worst levels at the reopen, with immediate upside seen on the resumption of trade as participants reacted to US President Trump delaying his decision to strike Iran by two weeks to monitor negotiations. That being said, modest downticks were seen amid reports Trump’s special envoy to the Middle East Witkoff will not attend the UK/France/Germany talks with Iran in Geneva on Friday.
• European equity futures are indicative of a firmer open with the Euro Stoxx 50 future +0.9% after cash closed -1.3% on Thursday.

FX

• DXY was subdued and back under 99.00 with some weakness emanating from haven outflow and from a sharp decline in crude prices after US President Trump offered a two-week window to Iran to monitor negotiation before military action.
• EUR/USD was bolstered above 1.1500 amid the aforementioned Dollar decline but with broader newsflow rather light overnight. EUR/USD eyes the 18th June high at 1.1530.
• GBP/USD was similarly a beneficiary of the weaker Dollar in the aftermath of yesterday’s BoE, with price action in APAC hours largely dictated by the Buck.
• USD/JPY dipped as the JPY gained on firmer-than-expected Japanese Core CPI which printed the fastest Y/Y pace since January 2023. Stale BoJ minutes (from two meetings ago) were also released.
• Antipodeans saw choppy trade amid the lack of direction for sentiment, with newsflow for the Aussie and Kiwi on the lighter side overnight. AUD/USD and NZD/USD both dipped 0.1%.
• Yuan saw some strength on the PBoC fixing, which marked the strongest CNY fix since March 17th.
• PBoC set USD/CNY mid-point at 7.1695 vs exp. 7.1801 (prev. 7.1729); strongest CNY fix since March 17th

FIXED INCOME

• 10yr UST futures saw choppy trade following earlier weakness as participants reacted to news that US President Trump offered Iran a two-week window to monitor negotiations before military action.
• Bund futures briefly dipped under 131.00 in tandem with US counterparts on the aforementioned geopolitics before trading sideways as newsflow quietened down.
• 10yr JGB futures were softer in sympathy with the slight haven outflow seen across fixed income due to the aforementioned geopolitics coupled with hotter-than-expected Japanese CPI, while Japanese Finance Minister Kato said they have seen spikes in super-long JGB yields recently. Nothing official was seen from the MoF Bond Meeting.
• Australia sold AUD 800mln 1.00% 2030 bond, b/c 3.47x (prev. 4.64x), avg. yield 3.6145% (prev. 4.0469%)

COMMODITIES

• Crude futures saw weakness amid a risk premium unwind after US President Trump decided to wait two weeks and gauge negotiations before striking Iran. On that note, the UK, France, and Germany will hold talks with Iran in Geneva tomorrow – Trump’s Middle East envoy Witkoff will not attend those talks, according to NBC.
• Spot gold saw softness despite a weaker Dollar but amid the unwind in risk premium as US President Trump decided to wait two weeks and gauge negotiations before striking Iran.
• Copper futures saw horizontal price action within tight ranges with newsflow light. The red metal failed to coat-tail on the eventual gains in the region.
• Citi said that if 1.1mln BPD of Iranian oil exports were disrupted—using May exports as a baseline—it estimated prices should rise by about 15–20%, compared with an average of USD 65/bbl in the month before the Iran-Israel conflict escalated on 12 June. A 1.1mln BPD disruption implied Brent prices should be in the USD 75–78/bbl range. Citi added that prices reaching USD 90/bbl—its current bullish case, short of a major escalation in oil transit—would imply a disruption of 3mln BPD over a multi-month period, according to Reuters.
• India restricted the import of alloys of palladium, rhodium, and iridium containing over 1% gold by weight, according to Reuters.

CRYPTO

• Bitcoin traded flat overnight and remained under USD 105k.

NOTABLE ASIA-PAC HEADLINES

• The PBoC maintained its 1-year Loan Prime Rate (LPR) at 3.00% and its 5-year LPR at 3.50%, as expected, according to Reuters.
• Japanese Finance Minister Kato said they had observed spikes in super‑long JGB yields recently, according to Reuters.
• Minutes from the BoJ’s 30 April – 1 May meeting showed that many members said they must carefully scrutinise each nation’s trade policy and its developments, given the heightening downside risks to the economy and prices, according to Reuters.
• PBoC injected 161.2bln via 7-day reverse repos with the rate maintained at 1.40%.

DATA RECAP

• Japanese CPI, Core Nationwide YY (May) 3.7% vs. Exp. 3.6% (Prev. 3.5%); fastest Y/Y pace since Jan 2023.
• Japanese CPI, Overall Nationwide (May) 3.5% (Prev. 3.6%)
• South Korean PPI Growth YY (May) 0.3% (Prev. 0.9%, Rev. 0.8%)
• South Korean PPI Growth MM (May) -0.4% (Prev. -0.1%, Rev. -0.2%)

GEOPOLITICS

MIDDLE EAST

US Involvement

• The White House said, “message directly from the President – based on the fact that there is a significant chance of negotiations with Iran in the near future – I will make a decision on whether to launch [an attack] in the next two weeks.”
• US President Trump had been briefed on both the risks and benefits of bombing Fordow and his mindset was that disabling it was necessary due to the risk of weapons being produced in a relatively short period of time, according to CBS.
• Broadcasting Authority, citing an Israeli source, reported that the US had asked Israel to defer its attack on the Fordow nuclear facility.
• Kann News reported that there was a “possible attack at Fordow”: according to sources, the US had asked Israel to wait until negotiations with Iran had been exhausted.
• US President Trump is to attend a National Security Meeting at 11:00 EDT on Friday.
• US law enforcement officials had stepped up surveillance of Iran-backed operatives in the US, according to CBS sources.
• The White House said Iran was able to produce a nuclear bomb within “a couple of weeks”.
• A White House official told Fox’s Heinrich that the US military had no doubt about the efficacy of bunker busters in eliminating the site at Fordow, and also denied that any options—including tactical nuclear weapons—had been taken off the table.
• The White House Press Secretary said there were no signs that China was getting involved militarily in Iran, according to Reuters.
• The US reportedly believed Iran would build a nuclear bomb if Supreme Leader Khamenei were assassinated and the Fordow facility was attacked, according to The New York Times.

Strikes

• There were reports of Israeli strikes in the Lavizan area of Tehran, where Iranian Supreme Leader Khamenei was reportedly hiding in a bunker, according to i24 journalist Stein.
• An Israeli military spokesman said Israel had attacked the special forces headquarters of the internal security apparatus in Tehran within the last 24 hours, according to Reuters.
• Journalist Horowitz said on X that opposition sources were circulating “unconfirmed” reports claiming that the head of Iran’s military, Abdolrahim Mousavi, had been killed in an Israeli strike.
• The Fars News Agency said Iran had used a new generation of precision missiles in its attack on Israel on Thursday morning, according to Fars.
• The Norwegian Foreign Ministry said an explosion had occurred on Thursday evening in Tel Aviv at the residence of the Norwegian ambassador to Israel, according to Reuters.
• The Jordanian army said an explosives-laden drone had fallen in the Azraq area after it “fell short of its range,” according to Al Hadath.
• Iranian media reported that air defences were activated in Isfahan, according to Al Arabiya.

Diplomacy

• Britain, France, and Germany are to hold talks with Iran’s Foreign Minister on Friday in a last-ditch effort to avert an escalation of conflict in the Middle East and a possible US intervention, according to FT.
• Iran’s Foreign Minister had reached out to European foreign ministers, requesting a meeting with them on Friday, Jerusalem Post reported.
• Trump administration officials are pitching the president’s two-week timeline as an opportunity to allow diplomacy to play out. Special Envoy Witkoff and Iran’s Foreign Minister Araghchi had been in communication in recent days, though there were no plans for the two to meet yet, according to ABC.
• Trump’s special envoy to the Middle East Witkoff will not attend the UK/France/Germany talks with Iran in Geneva on Friday, according to White House officials cited by NBC.
• An Iranian source denied reports of a phone call between Iranian Foreign Minister Araghchi and US presidential envoy Witkoff following Israel’s aggression, according to Iran Nuances.
• The White House Press Secretary said they would see how the EU meeting with the Iranians went tomorrow, according to Reuters.
• US officials said no date had been set for a meeting between US and Iranian officials yet, according to Axios.

US Military and Deployment

• Over the next 10 to 14 days, there were expected to be two aircraft carriers in the Middle East and a third operating in the Mediterranean Sea, according to ABC.

Iranian Actions

• A senior IRGC official said that before the Israeli airstrikes, all enriched uranium had been transferred from the nuclear sites to secret hiding locations, according to i24 journalist Stein.
• Iran’s Tasnim News Agency, quoting an Iranian official, said intelligence had thwarted a major Israeli plot against Iranian Foreign Minister Araqchi in Tehran, according to Sky News Arabia.
• Iraq’s Hezbollah threatened to target US bases and close the Strait of Hormuz if Washington joined strikes on Iran, according to Al Hadath.
• An Israeli official said Iran could likely sustain the current rate of missile fire at Israel for up to five months, provided their missile launchers were not destroyed, according to NBC.
• Israel anticipated attacks from Iran’s proxies across the Middle East, according to Israel Channel 14.
• An Israeli intelligence official said the imminent collapse of the Iranian regime was far from the truth, according to NBC.

OTHERS

• A Japanese destroyer sailed through the Taiwan Strait after a Chinese jet approached it, according to Nikkei.
• China President Xi met with New Zealand PM Luxon in Beijing, according to CCTV.

EU/UK

DATA RECAP

• UK GfK Consumer Confidence (Jun) -18.0 vs. Exp. -20.0 (Prev. -20.0)

3 .ASIA

3A NORTH KOREA/SOUTH KOREA

3B JAPAN

3C CHINA

Tech Tumbles As White House Mulls Further Crackdown On Chips To China

Friday, Jun 20, 2025 – 11:00 AM

US equity markets have given back early gains following a report from The Wall Street Journal that a U.S. official told top global semiconductor makers he wanted to revoke waivers they have used to access American technology in China, people familiar with the matter said, a move that could inflame trade tensions.

Currently, South Korea’s Samsung Electronics and SK Hynix as well as Taiwan Semiconductor Manufacturing enjoy blanket waivers that allow them to ship American chip-making equipment to their factories in China without applying for a separate license each time.

Jeffrey Kessler, head of the unit in charge of export controls at the Commerce Department, told the three companies this week he wanted to cancel those waivers, according to people familiar with the meetings. They said Kessler described the action as part of the Trump administration’s crackdown on critical U.S. technology going to China.

The action isn’t a new trade escalation but would be designed to make the licensing system for chip equipment similar to what China has in place for rare-earth materials, White House officials said.

The U.S. and China continue to make progress on completing the agreement they reached in London and negotiating on trade, they said.

“Chip makers will still be able to operate in China. The new enforcement mechanisms on chips mirror licensing requirements that apply to other semiconductor companies that export to China and ensure the United States has an equal and reciprocal process,” a Commerce Department spokesman said.

For now, the market is selling first, thinking later.

The reaction was swift with MegaCap tech being hit hardest…

…obviously semi stocks suffering even more…

…dragging Nasdaq into the red from Wednesday’s close…

A new step making it harder for global chip makers to operate in China might still strike Beijing as a betrayal of the London deal.

Finally, WSJ reports that the South Korean and Taiwanese companies have notified authorities in their home regions about the waiver issue, hoping for help lobbying against the move, people familiar with the discussions said.

4.European affairs

GERMANY

Germany’s Mildly Restrictive Immigration Policies Are Paying Off

Thursday, Jun 19, 2025 – 04:00 AM

Via Remix News,

For the first time in almost two decades, Germany has a negative net immigration rate, according to a new graph out of Statista, based on data from the UN Department of Economic and Social Affairs (UN DESA).

Economist Géza Sebestyén, who heads up the Economic Policy Workshop at MCC in Budapest, took to Facebook to spell out how recent policy changes by the German government are behind the improvement, namely, significantly tightened border controls, suspended family reunification in several places, and stricter conditions for obtaining citizenship.

“Many are being refused before they can even apply,” he added

His post went on to state that the number of asylum applications has fallen by more than 30 percent.

“New rules and faster border crossings have made Germany less accessible — even for those fleeing war and persecution.”

Refugees from Ukraine dropped by 75 percent in 2024, from over 1 million in 2023. 

For migrants, rising housing costs, lack of space, and an overloaded bureaucracy also pose serious obstacles to building a new life. 

Meanwhile, public sentiment is shifting fast and anti-immigration parties like the Alternative for Germany (AfD) are becoming more and more popular, putting increased pressure on the ruling coalition to change policy. 

And yet, it is exactly its popularity that is also creating continued animosity against the party. Despite the AfD being the largest opposition party in Germany and leading in some polls after taking just under 21 percent of the vote in the February election, many are still pushing to ban it while also implementing some of its anti-immigration proposals. 

The concern is that without the AfD maintaining its presence on the political chess board, the ruling coalition under Merz will once again cave to those advocating for more immigration. 

However, these restrictions on immigration will do little to reverse overall demographic trends unless more sustained action is taken. Just this year, official data showed that one in four Germans now has a migration background.

The demographic changes are most pronounced amongst the youth, and the result is most acutely felt in Germany’s troubled school system, which features a soaring number of foreign children.

In Berlin, 40 percent of students do not speak German as their native language, and in cities like Hamburg, the majority of students have a migrant background. Overall, an astounding 38 percent of all children in elementary schools in Germany have migrant backgrounds.

Mayor of Tübingen Boris Palmer, a highly influential politician who left the Green Party to run as an independent, said last year that young people are dealing with the consequences of mass immigration, which is making them turn to right-wing parties.

“They experience what irregular migration means on a daily basis,” Palmer, who formerly served with the Greens but has since become independent, wrote on Facebook.

“Above all, the young men who have arrived alone are changing the living environment of young people. In the park, in the club, on the street, on the bus, at the train station, in the schoolyard,” he added.

His points are reflected in the data made available from the education system. Teachers in Berlin, for instance, required police intervention in the school system 5 times a day in 2023, with police interventions rising dramatically.

Palmer’s comments reveal that the demographic transformation are hitting the youth hardest of all, and it is not only the AfD raising concerns.

Read more here…

END

UK

DEAL IS STILL FAR FROM OVER //MANY DETAILS STILL LEFT TO BE EXPLORED

US–UK Trade Deal Highlights Gap In Agricultural Practices

Thursday, Jun 19, 2025 – 05:30 AM

Authored by Beige Luciano-Adams via The Epoch Times (emphasis ours),

The first trade deal to emerge from the Trump administration’s global tariff blitz is a narrow pact with one of the United States’ closest allies and a potential bright spot for U.S. agriculture.

The White House said the Economic Prosperity Deal with the UK, signed June 16, includes “billions of dollars of increased market access for American exports, especially for beef, ethanol, and certain other American agricultural exports.”

The deal will provide tariff relief on British car exports, although deals on steel and aluminum have not yet been finalized.

The agreement will reduce or eliminate UK tariffs and nontariff barriers—which, according to U.S. President Donald Trump, have unfairly discriminated against U.S. goods—on some agricultural products, giving U.S. producers a $5 billion boost.

During a May 9 Oval Office news conference to announce the deal, a reporter asked Trump if he was calling on the UK to accept all U.S. beef and chicken, referencing a long-simmering standoff over food standards between the two countries regarding hormone-treated beef and chlorine-washed chicken from the United States, both banned in Europe and the UK.

Trump suggested that the UK could “take” what it wants from the United States’ agricultural options.

He also mentioned that Health Secretary Robert F. Kennedy Jr. is seeking to shift U.S. food standards—likely toward those of the UK and Europe, “with no chemical, no this, no that.”

And on May 22, Kennedy’s Make America Healthy Again commission delivered a report taking aim at processed food and chemical toxins as drivers of chronic disease and declining health among U.S. children.

There are questions about how far the principles underlying the report will be extrapolated across the administration. For example, the Environmental Protection Agency (EPA) has signaled that it does not plan to implement a “European mandate system that stifles growth” to reduce pesticide use.

But it was an encouraging step for those hoping that this administration will take a more precautionary approach to regulating food safety.

During Trump’s comments at the May 9 news conference, Agriculture Secretary Brooke Rollins interjected to add, “American beef is the safest, the best quality, and the crown jewel of American agriculture for the world.”

The exchange highlighted a significant difference between the two countries. The United States continues to use agricultural and animal management substances that are banned in the UK, including certain pesticides, genetically modified crops, growth hormones, and antibiotics.

Since the years leading up to Brexit—the UK’s 2020 departure from the European Union (EU)—when the country appeared ripe for prying from Europe’s regulatory apparatus, the U.S. government and agriculture industry have been aggressively lobbying to remove trade barriers for agricultural products.

This may prove more difficult now, as the UK on May 19 reached a deal to “realign” with the EU on several key issues, among them food safety and animal welfare standards.

Meanwhile, UK leaders have vowed that the new trade framework with the United States will not affect standards—affirming that a ban on hormone-treated beef and chlorinated chicken is a “red line” in negotiations.

Details are scant so far on the final terms of the deal and how it will ultimately shake out for the industry on both sides of the Atlantic.

And while some UK industry groups worry that an influx of U.S. products will drive down standards and prices, some U.S. observers see an opportunity to produce higher-quality U.S. exports.

A 1st Step

Trump has touted the deal, which establishes a reciprocal tariff-free quota of 13,000 metric tons of beef exports between the two countries each year—as a breakthrough that will increase access for “virtually all of the products produced by our great farmers.”

The White House has estimated that the deal will create a $5 billion opportunity for U.S producers, with more than $700 million in ethanol exports and $250 million “in other agricultural products, such as beef.”

U.S. agricultural producers involved in years-long lobbying efforts are hoping that a lot more will follow.

“For too long, the UK has limited America’s food and agricultural exports to the world’s sixth largest economy and now President Trump’s deal promises to level the playing field,” the International Dairy Foods Association said in a statement.

The U.S. Meat Export Federation thanked the Trump administration in a statement for prioritizing red meat in negotiations, and pushed for the inclusion of pork and the removal of remaining nontariff barriers.

As U.S. beef has not had any duty-free access to the UK since 2020, when the UK left the EU, the quota of 13,000 metric tons is important, Joe Schuele, senior vice president of communications for the federation, told The Epoch Times in an email.

But for U.S. producers to capitalize on the quota, barriers in existing export programs will have to be addressed, Schuele said, noting that the UK still adheres to all import requirements imposed by the EU for beef and pork.

“There are so many layers of bureaucracy that go above and beyond these two programs [beef and pork] that it’s hard for livestock producers to view them as viable paths into the European market,” he said.

While discussion of the UK’s nontariff barriers often focuses on the use of growth hormones—banned in the UK in 1989—Schuele pointed to other costly requirements hindering U.S. exporters, including “cumbersome plant approval procedures” as well as residue testing and antimicrobial wash restrictions imposed only by the UK and EU.

Protection not Bureaucracy

Where U.S. producers might see cumbersome bureaucracy, UK producers tend to see protection for food quality and prices.

Tom Haynes, head of the UK’s National Pig Association, said allowing U.S. pork imports would undercut UK prices and undo decades of work to improve standards.

“Allowing goods into the UK produced to standards that would not be legal for our producers, would represent a betrayal to British farmers,” Haynes said in a statement on May 9.

He noted that the United States tried hard to get pork into the first part of the deal, with “intense lobbying from the U.S. pig sector, and an 11th hour call from the U.S. President to the Prime Minister.”

Rollins said on May 13 that pork and poultry “are at the front of the line” in continued negotiations, along with seafood and rice.

UK poultry farmers were also happy to be left out.

“Excluding chicken from a UK–U.S. trade deal demonstrates a commitment to responsibility and transparency that defines British poultry meat production,” said Richard Griffiths, head of the British Poultry Council.

In a post on social media platform X, Liz Webster, founder of the nonprofit Save British Farming, said the deal would set a precedent, opening up a “flood of import [sic] food from countries that subsidise their farmers and allow lower standards.”

Risk Analysis

In its statement celebrating the deal, the White House pointed to UK tariffs, some higher than 125 percent, on U.S. meat, poultry, and dairy products. Added to the tariff burden, it said, are “non-science-based standards that adversely affect U.S. exports.”

The week after the deal was announced, Rollins met with UK officials and industry leaders to promote consumer choice and regulation based on science-based risk analysis, while stressing the safety of U.S. food and looking to dispel “misinformation” she said has circulated for decades in the UK.

Responding to questions about hormone-treated cattle at a news conference in London on May 13, Rollins said, “We have decades of research that show the beef produced in America, whether it’s hormone or hormone-free, is entirely safe.”

The secretary also clarified that over the past decade, the U.S. poultry industry has shifted away from using chlorine to wash poultry.

“Chlorine chicken—that’s a narrative in your country we have not done a good enough job pushing back on,“ she said. ”Only about 5 percent … of our chicken in America is actually treated that way.”

To disinfect chicken, U.S. chicken producers now mostly use peracetic acid, an organic compound—basically an industrial-strength equivalent of hydrogen peroxide and vinegar—that the European Food Safety Authority in 2014 deemed safe for use on meat.

UK regulators do not have an issue with the chlorine wash itself; both the UK and the EU permit chlorine washing. The UK approach is based on the position that proper hygiene and animal welfare make chlorine washing unnecessary—it is seen as a cover-up for low standards associated with large-scale factory farming.

While the UK’s “farm to fork” model includes tracing food hygiene at all stages of the production process, the United States has historically relied on end-stage testing to ensure safety.

A new Food and Drug Administration (FDA) rule will require traceability for a limited list of foods, including cheeses, eggs, and some produce and seafood items. However, that rule, mandated in 2010 and finalized in 2022, has yet to be enforced. The compliance date for the final rule has now been pushed back to July 2028.

Since the 2016 Brexit referendum opened a potential route for direct trade with the UK, U.S. officials and industry stakeholders have criticized what they consider Europe’s unfounded fears over food quality and safety, framing the U.S. approach as more modern and “science-based.”

In a 2019 op-ed, former U.S. Ambassador to the UK Robert Wood Johnson likened Europe to a “Museum of Agriculture,” contrasting its focus on history and tradition with the United States’ focus on science and innovation—a philosophical distinction, not a difference in quality, he said.

The same year, U.S. agricultural producers testifying during a public hearing to inform trade negotiations suggested that European restrictions on drugs such as ractopamine—a feed additive widely used in U.S. pork—lacked scientific basis and should be dropped.

Research on human health effects of the drug is nearly nonexistent, but a lack of evidence proving its safety and concerning links to animal health issues have led more than 160 countries—including Russia and China, the biggest consumer of U.S. pork—to ban it.

The example demonstrates the difference in approach between the United States on the one hand and the EU and UK on the other. Absent scientific consensus about the health impacts of a drug or additive, European governments have typically prioritized human health and safety as a precaution when there are signs that a substance may pose a threat.

This “hazard-based” approach is based on the “precautionary principle” enshrined in European law.

Or, as the UK Food Standards Agency defines it, “In the interests of protecting public health from emerging food safety risks, the precautionary principle allows us to take action even if there isn’t time or data to undertake a full risk assessment.”

The United States, on the other hand, favors a “risk-based” approach focused on managing the risks of a potentially hazardous substance, often one that is already widely used.

“I think as soon as the UK can free itself from the precautionary principle, we’ll have a lot more opportunity to trade based on sensible regulations that are aimed at public health and safety, not at ill-founded fears,” Daniel Griswold, trade policy expert at George Mason University, said during a 2019 public hearing.

Pesticide Use

Pesticide use is another area in which the UK’s precautionary approach distinguishes it from the United States, but increasingly less so.

The UK plans to phase out chemical pesticides and reduce agricultural use of antimicrobials in the next several years. The United States has no such plan, but has offered some incentives in recent years to help farmers transition to organic.

The United States also allows higher maximum residue limits for pesticides than the UK for many foods—sometimes hundreds of times higher—and approves more pesticides than the UK and EU, according to an analysis by Pesticide Action Network.

In the UK, companies must prove no harmful effects on human health or the environment before active substances—the active components of pesticides—can be approved for use, and regulators can restrict use of a substance based on correlation with harmful effects, without requiring proof of causation.

Read the rest here..

end

SWITZERLAND.

Negative rates are back in one nation: Switzerland

NIRP Is Back As Swiss National Bank Cuts Rates To Zero, Introduces Stealth Negative Rates

Thursday, Jun 19, 2025 – 05:10 PM

Five years after covid sparked a once in a generation inflationary surge and forced all central banks to push their interest rates well above the zero (and in some cases negative) lower bound which defined the post-QE era, overnight the Swiss National Bank became the first to show that the world of higher rates is over and ZIRP is coming back, after the central bank cut its rate from 0.25% back to 0.00% for the first time since 2022.

But it’s not just ZIRP that is back: NIRP is also here courtesy of the Swiss, because while the SNB may have cut its interest rate to zero, the way it penalizes banks’ excess reserve holdings means lenders will face negative rates if they park too much cash at the central bank.

Ah yes, the magic of the zero lower bound is once again with us!

According to a statement by the SNB published on Thursday morning, Swiss banks can hold up to an unchanged 18 times their minimum reserve requirement in sight deposits at the SNB for free but anything over that they will be charged interest of -0.25% as the discount from the policy rate remains unchanged at 25 basis points.

The goal behind the “tiered remuneration”, according to Bloomberg, is to incentivize lending between banks so that enough liquidity is exchanged on the Swiss money market. For lenders holding more than their limit it’s cheaper to pass on excess reserves to institutions which are under their thresholds, because they have to pay them less than the central bank.

For all lenders which don’t have a minimum reserve requirement the threshold is set at a paltry 10 million francs ($12 million) in sight deposits, the SNB said.

The system, which the SNB has had in place since it lifted its key rate above zero in 2022, means that the average money-market rate — known as Saron — has usually been a few basis points below the central-bank rate.

Which means that starting Friday, negative funding costs for banks are therefore likely, as board member Petra Tschudin told reporters in Zurich. She added that she expects only “very little” sight deposits to be remunerated at the negative rate. That chimes with experience from some three years under the regime, where typically only a tiny fraction of them were hit by the lower rate.

Still, little or not so little, negative rates are back in at least one country… and soon in many more. 

While Switzerland’s main banks lobby called the SNB’s decision “understandable,” it criticized its consequences.

“It’s clear that a zero interest rate environment diminishes the incentive for responsible saving and places additional pressure on retirement provision,” the Swiss Bankers Association said in a statement. “As in previous periods of low interest rates, banks and their customers once again bear a significant share of the monetary policy burden.”

Similarly, the insurance association welcomed the SNB not going negative, but stressed that “even the return to a low interest rate environment already poses a challenge” to the sector.

SNB President Martin Schlegel acknowledged the discomfort the new rate environment creates for banks and signaled that there’s an elevated bar for further cuts.

“We would not take the decision to go negative lightly,” he said. “But I want to stress that the profitability of banks is not within the national bank’s objectives.”

Finally, while some argue that negative rates are a way for capital deficient central banks to restock their coffers after years of high rates pushed them all into technical insolvency, given the small share of deposits affected, it’s unlikely that the SNB will make a lot of money from charging lenders. Between 2015 and 2022, the central bank earned almost 12 billion francs from negative rates, though it then paid out 14.5 billion francs from when rates turned positive through the end of March of this year.

END

Europe Admits “Trump Is Right”, China Is The Problem As Beijing Unleashes Global EV Dump

Friday, Jun 20, 2025 – 01:40 PM

While Donald Trump has been warning about China’s mercenary, mercantilist trade practices for much of the past decade – ‘ripping us off’ and hollowing out the middle class – (and who facilitated that?), Europe and Latin America, who until recently were screaming loudly to anyone who bothered to listen just how great BFFs they are with Beijing, are finally getting a taste.

In the latest shock to millions of TDS afflicted so-called  “economists” and “experts”, during a session on the global economy at the G-7 summit in Kananaskis, Canada, EU Commission President Ursula von der Leyen admitted that, yes, “Donald is right” on China, as she slammed Beijing for disrupting global trade with subsidies to boost its own companies – accusing the CCP of “weaponizing” its leading position in the production and refinement of raw materials used for cars, batteries and wind turbines. 

“On this point, Donald is right — there is a serious problem,” she said, encouraging Trump to join forces with US allies to address China’s trade imbalances, rather than punishing them with his own tariff scheme. 

“When we focus our attention on tariffs between partners, it diverts our energy from the real challenge — one that threatens us all.” 

She also slammed China for “undercutting intellectual property protections, massive subsidies with the aim to dominate global manufacturing and supply chains,” adding “This is not market competition — it is distortion with intent,” Politico reported, costing the liberal publication’s editors several years of life expectancy. 

She then warned of “a new China shock,” accusing Beijing of flooding the world with cheap, state-subsidized products, and urged G7 nations to step up and combat its dominance in the raw materials sector. 

In response, the G7 leaders created a draft statement in which they will pledge to implement a “G7 critical minerals action plan,” though it does not call out China by name – instead only mentioning “non-market policies and practices in the critical minerals sector.”

It’s not just Europe: as anyone who gets in bed with China, eventually learn there is a price. 

On Thursday, Reuters reported that Brazil is being flooded by cheap Chinese crap (in this case electric vehicles) offering Brazilian car shoppers ‘relatively low-priced options in a market where the green-car movement is still in its infancy.’  Of course, the dumping of Chinese products means death for domestic producers, and now, Brazilian auto-industry officials and labor leaders are terrified that the influx of cars from BYD and other Chinese carmakers will set back domestic auto production and hurt jobs. 

BYD has deployed a growing fleet of cargo ships to accelerate its expansion overseas, with Brazil becoming its top target, according to Reuters analysis of shipping data and company statements. The late-May shipment was the fourth of the Chinese carmaker’s ships to dock in Brazil this year, totaling around 22,000 vehicles, according to Reuters calculations.

BYD, the world’s top producer of electric and plug-in hybrid cars, is the largest among several Chinese brands targeting Brazil for growth. China-built vehicle imports are expected to grow nearly 40% this year, to about 200,000, according to Brazil’s main auto association. That would account for roughly 8% of total light-vehicle registrations. -Reuters

In late May, a BYD ship docked at Itajaí for the fourth time this year, unloading a cargo that brings the company’s total Brazilian deliveries to an estimated 22,000 vehicles in 2024 alone. BYD has deployed a growing fleet of cargo vessels to support its aggressive global expansion, with Brazil now emerging as its top overseas market, according to shipping data and company statements analyzed by Reuters.

Chinese-built vehicle imports to Brazil are expected to rise nearly 40% this year to 200,000 units—roughly 8% of all light vehicle registrations—according to Brazil’s main auto association, ANFAVEA.

“Countries around the world started closing their doors to the Chinese, but Brazil didn’t,” said Aroaldo da Silva, a Mercedes-Benz worker and president of IndustriALL Brasil, a confederation of unions across six industrial sectors. “China made use of that.”

BYD’s intensified focus on Brazil comes as opportunities shrink elsewhere. Domestically, it faces a bruising price war, recently cutting its entry-level Seagull model to under $10,000, putting a strain on profit margins (as discussed in “China Auto Industry On Verge Of Collapse As Six Major Cities Run Out Of Car-Buying Subsidies“)

Abroad, Chinese automakers are hitting stiff new trade barriers: a 45.3% duty in Europe, a tariff of more than 100% in the U.S., and bans on Chinese software in vehicles.

For years, Brazilian officials sought to balance green ambitions with industrial development. In 2015, tariffs on electric vehicles were eliminated to encourage EV adoption. But that policy shifted last year with the reintroduction of a 10% import tariff, set to rise gradually to 35% by 2026. Now, ANFAVEA and others are urging the government to accelerate the schedule.

“We support the arrival of new brands in Brazil to produce, promote the components sector, create jobs and bring new technologies,” ANFAVEA President Igor Calvet told Reuters. “But from the moment that an excess of imports causes lower investment in production in Brazil, that worries us.”

Brazil’s Ministry of Development, Industry and Foreign Trade said it is reviewing the request to fast-track the tariff increases. A ministry spokesperson defended the current timetable as one designed to allow companies to continue with their development plans and respect the maturity of manufacturing in the country.

In the meantime, Chinese automakers are racing to take advantage of remaining incentives. Under current policy, Brazil allows toll-free imports of up to $169 million worth of plug-in hybrids and $226 million for battery-electric vehicles through mid-2025—a loophole analysts say is driving a surge in front-loaded shipments.

In 2023, BYD announced plans to convert a former Ford plant in Bahia into a production hub, a move hailed by President Luiz Inácio Lula da Silva’s administration as a green industrial milestone. But progress has been slow. An investigation into labor violations at the site has pushed back the start of full production to December 2026, according to local officials.

Da Silva of IndustriALL said unions have not seen any signs that BYD is establishing local supplier contracts—typically underway 18 months before operations begin. “Even if the factory is here—what value is it really adding if the components, development, and technology is all from abroad?” he asked.

BYD did not respond to Reuters’ request for comment regarding its supply chain or production timeline.

Another Chinese automaker, Great Wall Motor (GWM), which purchased a former Mercedes-Benz plant in 2021, has also delayed its start. However, GWM now says it will begin production of its Haval H6 SUV next month and is actively negotiating with around 100 local suppliers.

“This year, imported cars will coexist alongside cars produced in Brazil,” said Ricardo Bastos, head of government relations for GWM Brazil and president of ABVE, the country’s electric vehicle association.

President Lula’s Workers Party government finds itself in a delicate position—caught between the need to protect jobs and the desire to promote clean technologies ahead of the COP30 global climate summit, which Brazil will host in November.

More than 80% of electric vehicle sales in Brazil come from China, according to ABVE. While the country is rich in minerals needed for battery production—like lithium—it lacks the infrastructure to build a full-scale EV supply chain.

Brazil has abundant mineral resources including lithium and other key ingredients to make EV batteries. But the infrastructure to produce all the necessary components for electric cars does not exist yet, said Ricardo Bastos, director of government relations at GWM Brazil and president of ABVE.

Until then, BYD and its rivals may continue to dominate Brazil’s green-car movement from across the Pacific, even as the long-promised benefits of local EV manufacturing remain out of reach for many Brazilian workers.

In short…

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL IRAN/USA/WEDNESDAY NIGHT

Trump Has Reportedly Approved Iran Attack Plans But Is Withholding Final Order

Wednesday, Jun 18, 2025 – 05:30 PM

Update(1730ET): As President Trump convenes a White House situation room meeting this Tuesday early evening, and following Ayatollah Khamenei’s earlier televised speech vowing ‘we will not surrender’ – The Wall Street Journal is reporting that Trump has made the decision:

President Trump told senior aides late Tuesday that he approved of attack plans for Iran, but was holding off to see if Tehran would abandon its nuclear program, people familiar with the deliberations said. Iran’s well-defended Fordow enrichment facility is a possible U.S. target. Israel has yet to attack the facility, which is buried under a mountain and is generally considered by military experts to be out of reach of all but the most powerful bombs.

Asked earlier if he had decided whether to strike at Iran’s nuclear facilities, Trump said, “I may do it, I may not do it.” And he repeated his insistence of Iran’s unconditional surrender: “The next week is going to be very big, maybe less than a week.”

Is this yet another last ditch effort to strong arm Tehran to the negotiating table, where Trump’s hope is that it will declare zero enrichment? Has the US Commander-in-Chief painted himself into a corner, and now it’s all zero sum? The Iranians remain under heavy Israeli bombing, and with leadership likely in deep bunkers, are unlikely to negotiate the end of their own ‘regime’. Trump may have finally pulled the trigger here. Where’s Congress? 

Meanwhile, elements of the Right and elements of the Left are uniting around this simple and very reasonable observation…

END

ISRAEL IRAN

IDF tells Iranians to evacuate area of Arak reactor, carries out strikes on Tehran

IDF warns Iranians to evacuate area of Arak heavy water reactor

By ToI Staff and AP

An Israeli Air Force fighter jets takes off for strikes in Iran, June 18, 2025. (Israel Defense Forces)

The IDF warns residents of the cities of Arak and Khondab in central Iran to evacuate for their safety. A heavy-water reactor is on the outskirts of Khondab.

The IDF says in a Farsi-language statement that the IDF is operating in the area against Iranian military infrastructure.

Heavy water helps cool nuclear reactors, but it produces plutonium as a byproduct that can potentially be used in nuclear weapons. That would provide Iran another path to the bomb beyond enriched uranium, should it choose to pursue the weapon.

Iran had agreed under its 2015 nuclear deal with world powers to redesign the facility to relieve proliferation concerns.

In 2019, Iran started up the heavy water reactor’s secondary circuit, which at the time did not violate the 2015 nuclear deal.

The UK at the time was helping Iran redesign the Arak reactor to limit the amount of plutonium it produces, stepping in for the US, which had withdrawn from the project after then-president Donald Trump’s decision in 2018 to unilaterally withdraw the US from the nuclear deal.

The International Atomic Energy Agency, the United Nations’ nuclear watchdog, has been urging Israel not to strike Iranian nuclear sites. IAEA inspectors reportedly last visited Arak on May 14.

Due to restrictions Iran imposed on inspectors, the IAEA has said it lost “continuity of knowledge” about Iran’s heavy water production — meaning it could not absolutely verify Tehran’s production and stockpile.

END

Times of Israel

Why strike Arak of this was decommissioned? Answer as intelligence is learned that

they secretly used the heavy water reactor to produce plunonium!!

(Times of Israel)

IDF strikes Iran’s Arak heavy water reactor, Natanz site used for nuclear development

Reports say Trump waiting on Iranians to see if they give up nuclear program, asked advisers if bunker busters can destroy Fordo, though Israel may destroy site ‘with humans’

By Emanuel Fabian, Follow
Agencies and ToI StaffToday, 10:22 am

Illustrative: Technicians work at the Iranian Arak heavy water reactor, 150 miles southwest of the capital Tehran, on December 23, 2019. (Atomic Energy Organization of Iran via AP)

The Israeli Air Force bombed Iran’s Arak heavy water reactor Thursday morning, along with a second strike on the Natanz enrichment facility and dozens of other military sites overnight, the military announced as an operation aimed at destroying the Iranian nuclear program entered its seventh day.

According to the Israel Defense Forces, a wave of overnight strikes involved 40 fighter jets dropping 100 munitions on dozens of Iranian military facilities in Tehran and other areas of Iran.

The IDF issued a warning ahead of the strike on the Arak reactor and urged residents in nearby areas to flee.

“The strike targeted the component intended for plutonium production, in order to prevent the reactor from being restored and used for nuclear weapons development,” the military said.

The research reactor was only partially built, with Tehran informing the UN nuclear watchdog that it planned to begin operating the facility next year.

The IDF later released footage showing the strike.

Israeli strikes target the Arak heavy water reactor in Iran, June 19, 2025. (Israel Defense Forces)

timesofisrael.com/idf-strikes-irans-arak-heavy-water-reactor-natanz-site-used-for-nuclear-development/

Israel separately said it struck another site around Natanz it described as being related to Iran’s nuclear program.

Iranian state TV said there was “no radiation danger whatsoever” from the attack on the Arak site. An Iranian state television reporter, speaking live in the nearby town of Khondab, said the facility had been evacuated and there was no damage to civilian areas around the reactor.

Heavy-water reactors pose a nuclear proliferation risk because they can easily produce plutonium which, like enriched uranium, can be used to make the core of an atom bomb.

Among the targets struck elsewhere in Iran overnight was a facility in Natanz used by Iran to develop nuclear weapons, the IDF said.

“The site houses unique components and equipment used for the development of nuclear weapons, and hosts projects that enable the acceleration of the nuclear weapons program,” the military said.

Israel has previously  targeted Iran’s enrichment site at Natanz, in addition to centrifuge workshops around Tehran and a nuclear site in Isfahan. Its strikes have also killed top generals and nuclear scientists.

This combination of pictures created on June 14, 2025, shows a handout satellite image provided by Maxar Technologies and taken on June 14, 2025, of a closeup view the Natanz nuclear facilities near Ahmadabad in Iran, before an Israeli strike (top) and another closeup view taken on June 14, 2025, after an Israeli strike. (AFP Photo/ Satellite image ©2021 Maxar Technologies)

Fighter jets also bombed “facilities for manufacturing raw materials, components used in assembling ballistic missiles, and sites for producing Iranian air defense systems and missiles,” along with Iranian air defense sites, missile storage sites, and radars, the IDF added.

Huge explosions were witnessed in the cities of Isfahan, Shiraz and Kermanshah early in the morning, the Washington-based Iran International news outlet reported.

x.com/IranIntl/status/1935501600770113586?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1935501600770113586%7Ctwgr%5E78356ea9de06d3d3710

An Israeli military official told Reuters the army estimates it has struck two-thirds of Iran’s ballistic missile launchers.

Iran is still believed to have more than 100 missile launchers, the official said.

Officials have said the launchers are a prime target, as they are the bottleneck for Tehran’s ability to launch its thousands of missiles at Israel.

Iranian news agencies also reported it had arrested 18 “enemy agents” who were building drones for Israeli attacks in the northeastern city of Mashhad.

Trump deliberates

Meanwhile, US President Donald Trump told staffers that he has approved plans to strike Iran, but is waiting to see if Iran will give up on its nuclear program before issuing any order to attack, The Wall Street Journal reported.

Trump informed his senior aides on Wednesday that he had approved the plans, the report said, citing “people familiar with the deliberations.”

Trump told reporters Wednesday that he wanted Iran’s “unconditional surrender” — meaning giving up its nuclear program — and that it was too late for a mere ceasefire.

Senior officials in the US are getting ready for the possible strike in the coming days, Bloomberg reported, citing “people familiar with the matter.”

Some of the sources said that a strike over the weekend is a possibility, but that the situation was in flux and could still change.

US President Donald Trump speaks with reporters as he meets with members of the Juventus soccer club in the Oval Office of the White House, June 18, 2025, in Washington. (AP Photo/Alex Brandon)

Meanwhile, Trump has asked his military advisers if 30,000-pound bombs could destroy Iran’s Fordo nuclear facility, Axios reported.

The bunker-buster bombs, known as the Massive Ordnance Penetrators, are in the US arsenal, but Israel does not have them or the bombers needed to deploy them.

Fordo is buried underground at a depth that is believed to be out of reach of Israeli aerial weaponry.

Officials from the Pentagon told Trump they believe the bombs could work against Fordo, although it’s not yet clear if Trump is sure, Axios reported.

The bombs have never been used in combat, only in tests.

The Israelis told the US officials that even though they could not dismantle Fordo with bombs, they may “do it with humans,” the report said, citing a US official.

A message addressed to US President Donald Trump reading, ‘Mr. President, finish the job,’ is pictured in Tel Aviv on June 18, 2025. It is unclear who paid for the banner (GIL COHEN-MAGEN / AFP)

Iranian officials have reported at least 224 deaths in Israeli attacks, claiming those were mostly civilians, though that toll has not been updated since Monday. The Washington-based group Human Rights Activists estimates the death toll to be at least 585, including 239 civilians, and estimates that more than 1,300 have been wounded.

Israel says its sweeping assault on Iran’s top military leaders, nuclear scientists, uranium enrichment sites and ballistic missile program launched early Friday morning is necessary to prevent the Islamic Republic from realizing its avowed plan to destroy the Jewish state.

Iran has retaliated by launching over 400 missiles and some 1,000 drones at Israel. So far, 24 people have been killed in Israel and more than 500 wounded by the missiles.

Iran has long insisted its nuclear program was peaceful, though it is the only non-nuclear-armed state to enrich uranium up to 60%, a short, technical step away from weapons-grade levels of 90%.

end

ISRAFAN….

IMPORTANT….

• Israfan
• Posts
• Israel Strikes Arak and Natanz in Major Blow to Iran’s Nuclear Program

Israel Strikes Arak and Natanz in Major Blow to Iran’s Nuclear Program

Targeted airstrikes hit plutonium reactor and weapons facility as IDF dismantles Tehran’s covert nuclear ambitions.

June 19, 2025 • Estimated Reading Time: 2 minutes

Israel has intensified its campaign against Iran’s nuclear threat with a series of powerful overnight airstrikes targeting critical infrastructure, including the Arak heavy water reactor and a weapons development facility near Natanz. These precision attacks, announced Wednesday morning by the IDF, aim to cripple the regime’s ability to produce nuclear weapons.

At the heart of the operation was the containment structure of the Arak reactor, a site long associated with plutonium production. Though previously thought to be decommissioned, Israeli intelligence revealed Iran had deliberately stalled its conversion, maintaining it as a pressure point against the West.

“This attack was part of our broader effort to disrupt the Iranian regime’s nuclear weapons program,” the IDF stated, highlighting that the threat from Arak was never truly neutralized.

Meanwhile, in central Iran, Israeli jets hit a covert facility near Natanz, where Iran was reportedly developing specialized components to accelerate nuclear weapons assembly. This site, coupled with additional strikes on factories producing missile parts and air defense technologies, represents a significant degradation of Iran’s offensive capabilities.

“These coordinated strikes send a clear message: we will not allow Iran to obtain nuclear weapons,” a senior Israeli security official declared.

Israel launched its preemptive operations last Friday, citing urgent intelligence that Iran had reached a “point of no return” in nuclear enrichment and bomb assembly. Defense officials warned that Tehran now possesses enough fissile material to produce up to 15 nuclear weapons.

More alarmingly, Israeli intelligence uncovered a hidden initiative to finalize all elements of a deployable nuclear device confirming the regime’s intent to bypass diplomacy and build an arsenal under the world’s nose.

This latest round of strikes signals Israel’s unwavering commitment to neutralize existential threats before they materialize. As the region faces mounting challenges, Israel once again proves it will act decisively to protect its people and the global community from nuclear terror.

END

THURSDAY/ISRAEL AND USA/IRAN

thursday: the thinking now floated is for a tactical nuke to destroy Fordow and Israel does not need the USA for that!

Defense Officials Float Tactical Nuke To Destroy Iran’s Fordow Site As World Awaits Trump Decision

Thursday, Jun 19, 2025 – 12:10 PM

Update(1210ET): Just an hour away from a high-stakes White House press briefing, and a report in The Guardian has really upped the ante…

Donald Trump has suggested to defense officials it would make sense for the US to launch strikes against Iran only if the so-called “bunker buster” bomb was guaranteed to destroy the critical uranium enrichment facility at Fordow, according to people familiar with the deliberations.

Trump was told that dropping the GBU-57s, a 13.6-tonne (30,000lb) bomb would effectively eliminate Fordow but he does not appear to be fully convinced, the people said, and has held off authorizing strikes as he also awaits the possibility that the threat of US involvement would lead Iran to talks.

The effectiveness of GBU-57s has been a topic of deep contention at the Pentagon since the start of Trump’s term, according to two defense officials who were briefed that perhaps only a tactical nuclear weapon could be capable of destroying Fordow because of how deeply it is buried.

Tactical nukes now? 

And there’s much, much more that needs to be considered. Likely full American military entry in to the war would spiral into full regime change in Iran. What comes next? 

Iran as a society is much larger, and with an even more complex ethnic division than neighboring Iraq… and we all remember the pandora’s box and US ‘forever war’ very well. Soon after Saddam’s toppling came the rise of ISIS and hellish decade-plus long Syrian proxy war. Have the politicians already forgotten? (or more likely they don’t care…) Adding to the chaos would be the IRGC likely closing the vital Strait of Hormuz – which would send oil prices skyrocketing.

By the day’s end we are likely to find out whether Trump will stick by being negotiator in chief… or war hawk in chief… will he listen to the likes of Tulsi Gabbard and Tucker Carlson, or to Lindsey Graham and Mark Levine? Meanwhile…

* * *

As Israel’s war with Iran nears the end of its first week, each side continued to inflict destruction from above in Thursday’s opening hours. In a development certain to be exploited by proponents of US intervention, the largest hospital in southern Israel reportedly received “extensive” damage after suffering a hit from an Iranian ballistic missile. Meanwhile, defying warnings of radiation dangers from the International Atomic Energy Agency, the Israeli Air Force bombed Iran’s Arak heavy water reactor, even though Iran modified it pursuant to the 2015 nuclear deal to make it incapable of producing weapons-grade plutonium. 

In other important recent developments: 

• Israeli Defense Minister Israel Katz said “the prime minister and I have instructed an escalation in the intensity of strikes against government targets in Tehran to destabilize the Ayatollah regime“
• Russian spokesman Dmitry Peskov warned that direct US participation in Israel’s war on Iran would spark a terrible spiral of escalation” 
• President Trump has reportedly approved a Pentagon plan for attacking Iran, but is holding off on giving the green light as he continues to seek Iran’s capitulation to foregoing any uranium enrichment — something Iran views as an intolerable infringement on its sovereignty. “I may do it, I may not do it,” he told reporters. 
• The foreign ministers of Iran, the UK, France and Germany are set to discuss the nuclear impasse in Geneva on Friday.
• MAGA conservatives continue to erupt in angry rejection of US involvement in the war Israel started, as evidenced by Tucker Carlson’s merciless evisceration of Iran hawk Ted Cruz in a viral interview  

In its initial retaliatory strikes on Israel, Iran had largely confined its missile barrages to the night. However, after the Islamic Revolutionary Guard Corps (IRGC) observed significant success in evading Israel’s highly-hyped Iron Dome, Iranian barrages are now increasingly coming in broad daylight, as they did on Thursday morning in a 30-missile strike that caused dozens of injuries, six of them severe: 

END

(Jerusalem Post)

probably 2/3 destroyed or 100 launchers to go

Iran’s missile launchers decimated, but deadly threat remains – analysis

Iran has lost more than half its missile launchers. However, Tehran’s regime is still able to wield the missiles with deadly effect.

A rescuer uses his phone at an impact site following a missile strike from Iran on Israel, in Holon, Tel Aviv, Israel June 19, 2025.(photo credit: Violeta Santos Moura/Reuters)BySETH J. FRANTZMANJUNE 19, 2025 12:43Updated: JUNE 19, 2025 13:29

Iran’s missile attack on Thursday, the seventh day of the war, illustrates that its missiles continue to pose a deadly threat. Iran began the war with hundreds, perhaps more than 1,000 ballistic missiles of varying types and ranges.

Iran has lost more than half its missile launchers. However, Tehran’s regime is still able to wield the missiles with deadly effect.

The attack on Soroka is a red line for Israel. It showed that despite Israel’s hi-tech air defenses, Israel will not be protected against every missile. Between ten and twenty percent of the missiles penetrated the defenses throughout this war. Hundreds of missiles have been fired. More than two dozen have impacted. 

Protecting lives in Israel

Israel’s citizens are resilient, and they follow the Home Front Command directives. This has saved lives. Israel’s first responders and the Search and Rescue Brigade of the Home Front Command have performed extraordinary work to get to the sites of impact and help to secure the area and find victims.

“Soroka Hospital, located in Be’er Sheva, is one of Israel’s finest—serving the entire Negev region, caring for Israelis of all faiths and our nieghbors, the Palestinians, who come especially to be treated there. Its devoted staff—Jews and Arabs—work side by side in extraordinary harmony, united by the mission to heal,” Israel’s President Isaac Herzog said on June 19. Israel’s Foreign Minister Gideon Sa’ar’s office also noted that Iran “has no red lines” with its attack on the hospital. Iran is committing war crimes. 

Some may downplay the attack on the hospital and argue that Iran aimed for a site nearby. However, Iran’s own media says that its missiles have very high accuracy. Iran’s Mehr News says that the Ghadr type of missile is “combined with an advanced guidance system, this design reduces its CEP from 2,500 meters to between 100 and 300 meters.” It claims that the Emad missile is an upgraded version of the Ghadr, introduced in 2015. “Powered by liquid fuel, the Emad missile measures 15.5 meters in length, weighs 1,750 kg, has a range of 1,700 km, and boasts a circular error probable (CEP) of 50 meters,” the report says.

Iran is the one that argues its missiles are accurate up to 50 or 100 meters. A hospital complex like Soroka is often at least 500-1,000 meters across. This means that Iran knows exactly what it is doing when it targets these sites. Iran is not just hoping the missiles hit something. Iran knows it is targeting areas with hospitals and civilians, even if it claims to be targeting “military” sites.

This is why it is important for Israel not to become overconfident. Israel has done extensive damage to Iran and its missiles. In recent days, it appeared that the volume of missile fire had been reduced. Some concluded that Israel had forced Iran to fire missiles from further away and that Iran has fewer missiles and launchers. Iran may have fewer, but it is still deadly. Iran also feels isolated and cornered. Its regime has vowed not to surrender. This means it will continue to lash out. 

end

WHEN YOU TARGET CIVILIANS IT IS ABOUT TIME YOU HIT THEIR WATER SUPPLY AND OIL AND GAS.

(JERUSALEM POSST)

ISRAEL IRAN

Israeli hospital struck in latest Iranian ballistic missile barrage on Israel

Four in serious condition, at least 30 lightly wounded in direct impacts across central Israeli cities, Magen David Adom said.

https://player.jpost.com/public/player.html?player=jpost&media=3913666&url=https://www.jpost.com/The aftermath of a direct missile hit on Soroka hospital in Beersheba, June 19, 2025 (VIA SOCIAL MEDIA)ByJERUSALEM POST STAFFJUNE 19, 2025 07:29Updated: JUNE 19, 2025 09:08

An Iranian ballistic missile struck Soroka Medical Center in Beersheba on Thursday morning as sirens sounded across Israel following a barrage launched from Iran.

There has been damage to the hospital after it was hit in several areas, and there was a significant impact on the hospital’s old surgical building, the hospital spokesperson stated. 

Rescue teams have been operating at the scene to help people trapped in an elevator at the hospital, the Israel Fire and Rescue Service reported. 

A man, about 80 years old, is in serious condition due to wounds from the blast and shrapnel, along with three other people seriously wounded in Holon.

At least 30 people were lightly wounded from the impacts across the country, Magen David Adom (MDA) said.

Rescue services at the scene of impact from the Iranian missile barrage

Medical teams have been working to evacuate all those wounded from the scene to hospitals, MDA said. 

The Soroka hospital has been treating all those who were lightly wounded from the impact in its emergency room, the hospital’s spokesperson said. 

During the missile barrage, large blasts were heard across Israel as several other direct impact sites in central Israeli cities were reported.

At least three direct impact sites were reported in the initial aftermath of the sirens. MDA added that it was scanning the sites of further reported impacts.

At least 20 missiles were launched from Iranian territory, Israeli media reported.

This is a developing story.

END

THE SURGERY WING WAS HIT BUT BAR SIMAN -TOV’S MOVE TO REMOVE ALL SURGERY PATIENTS FORM THE WING SAVED HUNDREDS OF LIVES!

(JERUSALEMPOST)

Near-miss massacre: How one order saved Soroka’s patients under missile fire

Thanks to Bar Siman-Tov’s pre-emptive order, only one patient suffered a minor injury after an Iranian missile slammed into Soroka hospital.

Saved the lives of medical staff and patients. Director General of the Health Ministry Moshe Bar Siman Tov during Covid-19 crisis in 2019(photo credit: YONATAN SINDEL/FLASH90)ByJERUSALEM POST STAFFJUNE 19, 2025 09:08Updated: JUNE 19, 2025 09:14

Some may call it luck, others would say it was experience and great crisis management. About 24 hours before ballistic missiles hit Soroka Medical Center in Beersheba on Thursday, Health Ministry Director-General Moshe Bar Siman-Tov made a dramatic decision that essentially saved dozens, if not hundreds, of lives: “Clear the surgery floor in the hospital – it’s not safe.” The staff did so. Some thought he was exaggerating. On Thursday, they all understood why.

At dawn, sirens wailed across the Negev as an Iranian missile slammed into the now-empty third-floor surgical ward. Structural damage was severe, but thanks to Bar Siman-Tov’s pre-emptive order, only one patient suffered a minor injury. Dozens of others who would have been in harm’s way had already been relocated to safer levels, turning what could have been a catastrophe into a narrow escape.

Their vacancy proved lifesaving

Bar Siman-Tov’s directive came Wednesday afternoon, when intelligence assessments warned of a coordinated barrage of more than 20 missiles and unmanned aerial vehicles aimed at overwhelming Israel’s defenses. Recognizing Soroka’s surgical unit as particularly vulnerable, he instructed hospital administrators to transfer every patient and staff member from that floor to alternate wings. By nightfall, operating theaters lay silent, and by sunrise, their vacancy proved lifesaving.

Born October 21, 1976, in Yehud and raised in Holon and Hashmonaim to a family of Turkish descent, Bar Siman-Tov holds a B.A. and M.B.A. in economics and finance from the Hebrew University of Jerusalem. He cut his teeth at the National Insurance Institute managing welfare and health budgets, then rose to deputy budget director at the Finance Ministry in 2010. There, he brokered the 2011 doctors’ strike settlement and helped craft major education reforms.

After seven years as Israel’s economic attaché in Washington, he returned in 2015 as the Health Ministry’s first nonphysician director-general. His tenure has been marked by bold preventive-medicine initiatives, most notably the 2020 front-of-package food-labeling law, and decisive leadership during the Covid-19 crisis, when his daily briefings became a fixture of the national response.

Colleagues say Bar Siman-Tov’s calm under pressure, honed through pandemic-era coordination, was on full display this week. “His anticipatory action turned what could have been a massacre into a story we may barely remember,” a senior hospital official said. As Soroka’s emergency crews clear rubble from the ward and life slowly returns to normal, Bar Siman-Tov’s gamble stands as a testament to foresight in the face of danger, and a reminder that in times of crisis, experience can be the difference between tragedy and salvation.

END

ISRAEL IRAN/RESPONSE;

Katz directly threatens to assassinate Khamenei, shake Iranian regime

The defense minister added that Israel will now start attacking new kinds of strategic targets in Iran.

(L-R) Defense Minister Israel Katz, Iran’s Supreme Leader Ali Khamenei(photo credit: Getty Images/SEBASTIAN SCHEINER/AFP, Iranian Leader’s Press Office – Handout, REUTERS/Raneen Sawafta)ByYONAH JEREMY BOBJUNE 19, 2025 09:59Updated: JUNE 19, 2025 10:10

Defense Minister Israel Katz on Thursday directly threatened to assassinate Iran Ayatollah Ali Khamenei in response to Iranian ballistic missiles striking Beersheba’s Soroka Medical Center.

Katz said, “Khamenei will pay for his crimes.”

The defense minister added that Israel will now start attacking new kinds of strategic targets in Iran “in order to remove the threats hanging over the State of Israel and to shake the ayatollah’s regime.”

It was not clear whether this meant the government has now given the order to actually hit Khamenei, with US President Donald Trump so far wanting to hold off on such a measure to still try to reach some kind of a deal with the regime.

Or whether Katz was simply raising the level of rhetoric to the threshold of being ready to assassinate Khamenei and giving him a last chance to cut a deal with Trump, while still leaving some amount of time for that kind of diplomacy.

Likewise, while the threat to “shake” the regime was an escalation of rhetoric closer to regime change, most experts do not believe Israel has sufficient military power to topple Iran’s regime the way it has Hamas’s regime in Gaza.

Further, even in Gaza after 20 months, Hamas still maintains itself as both a military and political entity, though much weaker than before.

In contrast, the Iranian regime is much stronger and is backed by millions of ultra loyal followers as part of a country of 90 million people.

Netanyahu’s vows repsonse to Iranian attack 

Also on Thursday, Prime Minister Benjamin Netanyahu vowed to “extract the full price from the tyrants in Iran” following the morning Iranian missile barrage.

“This morning, Iran’s terrorist tyrants launched missiles at the Soroka Hospital in Beersheba and at a civilian population in the center of the country. We will exact the full price from the tyrants in Tehran,” Netanyahu wrote in an X post. 

ISRAEL IRAN

The clock is ticking for Israel to stop Iran from advancing its nuclear ambitions – editorial

The clock is ticking. Iran advances in uranium enrichment and nuclear infrastructure every day. Its proxies may be weakened, but its ambitions are strengthened.

ADDRESSING THE UN General Assembly in 2012, Prime Minister Benjamin Netanyahu points to a red line regarding Iran’s nuclear program.(photo credit: LUCAS JACKSON/REUTERS)ByJPOST EDITORIALJUNE 19, 2025 05:58

Israel has long regarded a nuclear-armed Iran as perhaps the gravest existential threat it faces – a reality grounded not only in rhetoric but in Tehran’s actions and capacity.

Iranian Supreme Leader Ayatollah Ali Khamenei has repeatedly called for Israel’s elimination, saying only a couple of days ago, “Israel won’t exist in 25 years.”

That notion is not mere bluster. Iran has amassed a stockpile of at least 409 kg. of 60%-enriched uranium, according to the International Atomic Energy Agency. That is enough to turn Iran nuclear within weeks if further processed.

JPost Videos

These facts combine to produce a stunning change in regional dynamics: a nuclear-capable, ideologically hostile Iran is soon not a distant threat but an impending crisis.

As its proxy networks – namely, Hezbollah, Hamas, and the Houthis – weaken amid Israeli airstrikes, Iran’s internal debate on weaponization grows louder. Tehran now sees nuclear arms not merely as symbolic weapons of mass destruction but as instruments to reassert regional influence and deter Israeli or US interference.

The consequence of Iran crossing the nuclear threshold would extend far beyond Israeli concerns. Regional rivals – Turkey, Saudi Arabia, and Egypt – might begin their own nuclear programs, shattering decades of nonproliferation and triggering a Middle East arms race. Such a scenario would transform the region, with nuclear weapons easily capable of falling into volatile hands in what is already a tinderbox.

Diplomatic measures – such as reviving the 2015 Iran nuclear deal ushered in under former US president Barack Obama – remain the most globally accepted path to halting Iran’s nuclear ambitions. But that route has repeatedly faltered. The US exit under President Donald Trump, internal Iranian resistance, and distrust among Western powers mean that time is ticking against containment.

Critics argue that preemptive military strikes risk escalating the very danger they seek to prevent. This course of action could push Iran toward the bomb, they argue. Iran itself recently said an attack on its nuclear facilities could force it “to change doctrine” – euphemistically implying that it could revoke its supposed fatwa against nuclear arms.

Yet, let’s consider the delusive assumption of inaction. Iran’s breakout window has already shrunk – from months to mere weeks – in recent years.

If the world chooses the path of passivity, each passing day will bring with it the risk that Iran would build at least one bomb, test it covertly, and use it as a shield for its proxies. Once operational, even targeted diplomatic pressure or sanctions may be powerless, and with it, a Pandora’s box opens. It only takes one bomb to annihilate everything.

Israel follows the Begin Doctrine

Israel’s strategy of preemption against nuclear threats – known as the Begin Doctrine – has proven to be effective, as with Operation Opera, the bombing of Iraq’s Osirak reactor in 1981; and Operation Outside the Box, an attack on Syria’s Al-Kibar reactor in 2007.

These strikes bought time – but Iran today is vastly more advanced and deeply networked. A surgical strike may delay Iran’s progress by months, but critical facilities are buried (such as Fordow), dispersed, and shielded.

By launching Operation Rising Lion, Israel was wildly successful in achieving its immediate military goals: striking the nuclear facilities of Natanz, Isfahan, and Fordow, killing nuclear scientists, and targeting missile infrastructure.

These actions may have set back enrichment time lines by months and demonstrated Israel’s ability to degrade Iran’s air defenses. But they also sparked fears that Iran might escalate and accelerate its nuclear drive.

Preemption, if reckless and ill-considered, carries the potential for enormous danger, including regional war, international condemnation, civilian casualties, and ecological fallout. On the other hand, a nuclear-armed Iran would shatter global nonproliferation efforts, ignite a Middle East arms race, and embolden extremists in Sanaa, the Sinai, and elsewhere.

If Israel fails to act, the world may very well face a far more volatile region in which nuclear weapons are normalized and deterrence collapses. Preventing this outcome is vital for global stability.

The clock is ticking. Iran advances in uranium enrichment and nuclear infrastructure every day. Its proxies may be weakened, but its ambitions are strengthened.

Israel can strike decisively – but not forever. This is a moment of existential choice: Act now to forestall catastrophe, or risk living in a world where deterrence has failed, and the region is barred from safety.

END

ZERO HEDGE SAME STORY AS ABOVE

Missile Causes ‘Extensive’ Damage To Israeli Hospital – IDF Bombs Inactive Iranian Reactor

Thursday, Jun 19, 2025 – 07:35 AM

As Israel’s war with Iran nears the end of its first week, each side continued to inflict destruction from above in Thursday’s opening hours. In a development certain to be exploited by proponents of US intervention, the largest hospital in southern Israel reportedly received “extensive” damage after suffering a hit from an Iranian ballistic missile. Meanwhile, defying warnings of radiation dangers from the International Atomic Energy Agency, the Israeli Air Force bombed Iran’s Arak heavy water reactor, even though Iran modified it pursuant to the 2015 nuclear deal to make it incapable of producing weapons-grade plutonium. 

In other important recent developments: 

• Israeli Defense Minister Israel Katz said “the prime minister and I have instructed an escalation in the intensity of strikes against government targets in Tehran to destabilize the Ayatollah regime“
• Russian spokesman Dmitry Peskov warned that direct US participation in Israel’s war on Iran would spark a terrible spiral of escalation” 
• President Trump has reportedly approved a Pentagon plan for attacking Iran, but is holding off on giving the green light as he continues to seek Iran’s capitulation to foregoing any uranium enrichment — something Iran views as an intolerable infringement on its sovereignty. “I may do it, I may not do it,” he told reporters. 
• The foreign ministers of Iran, the UK, France and Germany are set to discuss the nuclear impasse in Geneva on Friday.
• MAGA conservatives continue to erupt in angry rejection of US involvement in the war Israel started, as evidenced by Tucker Carlson’s merciless evisceration of Iran hawk Ted Cruz in a viral interview  

In its initial retaliatory strikes on Israel, Iran had largely confined its missile barrages to the night. However, after the Islamic Revolutionary Guard Corps (IRGC) observed significant success in evading Israel’s highly-hyped Iron Dome, Iranian barrages are now increasingly coming in broad daylight, as they did on Thursday morning in a 30-missile strike that caused dozens of injuries, six of them severe: 

One of Iran’s missiles struck Soroka Hospital in the southern city of Beersheba, with health officials saying the explosion caused extensive damage along with injuries. Iran said the missile was aimed at a nearby Israeli military intelligence facility; the Times said the nearest military facility it knows of is over two kilometers away. Verified by the Times, this video captures the sound of the thunderous explosion blast and the huge mushroom cloud that rose up from the impact at the hospital: 

Israeli President Isaac Herzog emphasized that the hospital has a staff of “Jews and Arabs work[ing] side by side…caring for Israelis of all faiths and our neighbors the Palestinians.” Thanks in large part to a Wednesday evacuation of the floor that was struck, no fatalities have been reported at the hospital, and only minor injuries. Israeli officials quickly condemned the attack. “The missile fired toward Soroka Medical Center is an act of terror and crosses a red line,” Health Minister Uriel Buso told Times of Israel. Israeli critics will be quick to point out Israel’s enormously destructive campaign in Gaza has damaged or destroyed 94% of the hospitals in the territory.   

The Iranian barrage also caused major damage in the major city of Ramat Gan, an important business and educational hub just 5 kilometers east of Tel Aviv. With many modern skyscrapers, Ramat Gan has been nicknamed “the Manhattan of Israel.” Some of those shiny skyscrapers were shattered on Thursday morning, as two people were seriously injured:  

On the other side of the war map, Israeli bombs and missiles rained down on Iran, with the Israeli military announcing 40 fighter jets hit dozens of facilities, including the Arak heavy water reactor, and a facility in Natanz that Israel claims Iran is using to develop a nuclear weapon. In March, the US intelligence community said it continues to conclude that, true to its decades of assurances, Iran is not pursuing a nuclear weapon.    

Ironically, Israel’s attack on Arak helps draw attention to the 2015 Joint Comprehensive Plan of Action (JCPOA) nuclear deal that Trump withdrew the United States from in 2018, sowing the seeds of the war that’s raging today. In compliance with that deal, Iran filled the heavy water reactor core with cement so it would be incapable of producing weapons-grade plutonium. Other JCPOA modifications were also in progress at the Arak facility. In announcing its Thursday strike, the IDF even referred to it as the “inactive nuclear reactor in Arak” — which only helps underscore the fact that the original nuclear deal was fully achieving its purpose, and it was only discarded in deference to Israel and its Western collaborators looking for a false pretense for war, one that’s astonishingly similar to the one used for the disastrous invasion of Iraq.   

Earlier in the day, Israel had warned Iranians to evacuate from the vicinity of the reactor, using social media posts that featured satellite imagery of the facility in a red circle. However, Israel’s warning came after reports that Iranians were enduring a near-total loss of internet access more than 12 hours at the last report. The outage was reportedly the work of the Iranian government; the New York Times said the move was likely motivated in part by fear of Israeli cyberattacks. Earlier this week, Israel’s US ambassador cryptically promised “some surprises on Thursday night and Friday that will make [Israel’s explosive-beeper] operation [in Lebanon] almost seem simple.” 

END

June 19, 6:02 PM

LET US SEE HOW LONG HE LASTS BEFORE BEING ASSASSINATED:

Mohammad Karami appointed as new Ground Forces IRGC commander

ByREUTERS

Brigadier General Mohammad Karami became the new commander of the Ground Forces of the Islamic Revolutionary Guard Corps on Thursday, according to the Iranian Student News Agency.

END

ISRAEL IRAN

Hitting Tehran’s pockets: Israel-linked hacker group exposes source code for Iran’s cryptocurrency

According to the group, the crypto company assists the regime in funding Iranian terrorism and uses virtual currencies to bypass sanctions.

Hacker stealing data from laptop. Dark face. Blurred background.(photo credit: SHUTTERSTOCK)ByJERUSALEM POST STAFF, AMICHAI STEINJUNE 19, 2025 10:40Updated: JUNE 19, 2025 10:47

The Israeli-linked hacker group known as “Gonjeshke Darande” (Predatory Sparrow) followed through on its Wednesday threat, releasing Nobitex’s source code and internal information from its internal network on Thursday.

Nobitex, Iran’s largest cryptocurrency exchange, deals in digital currencies and cryptocurrency. According to the group, the crypto company assists the regime in funding Iranian terrorism and uses virtual currencies to bypass sanctions.

“ASSETS LEFT IN NOBITEX ARE NOW ENTIRELY OUT IN THE OPEN,” the group wrote on X/Twitter along with the leaked documents.

The group previously warned Iranians “Collaborating with a terrorist financing infrastructure puts your assets at risk! Act before it’s too late.”

Hackers steal $48 million in cryptocurrency used by Iran to fund terror

Gonjeshke Darande announced on Wednesday that it stole $48 million in cryptocurrency used by Iran to fund terror. 

Gonjeshke Darande also claimed responsibility for a cyberattack on the Islamic Revolutionary Guard Corps-controlled Bank Sepah on Tuesday morning.

end

TIMES OF ISRAEL/THURSDAY

HOSPITAL HIT WITH A HYPERSONIC MISSILE..IMPOSSIBLE TO STOP. IT WAS A DELIBERATE HIT!

(TIMES OF ISRAEL)

Iran’s ballistic missile strike on hospital ‘deliberate’ and ‘criminal,’ says deputy foreign minister

By AFPToday, 9:14 am

The aftermath of an Iranian missile strike on Beersheba’s Soroka Medical Center, June 19, 2025 (Emanuel Fabian/Times of Israel)

Israel’s deputy foreign minister Sharren Haskel calls Iran’s ballistic missile strike on Beersheba’s Soroka hospital “deliberate” and “criminal.”

“Iran just hit Soroka Hospital in Be’er Sheva with a ballistic missile. Not a military base. A hospital. This is the main medical center for Israel’s entire Negev region. Deliberate. Criminal. Civilian target. The world must speak out,” Sharren Haskel writes on X.

END

ISRAEL/IRAN

‘Mistake’ to say that Israel struck Bushehr nuclear site, says IDF official

By Reuters and ToI StaffToday, 4:28 pm

A worker rides a bicycle in front of the reactor building of the Bushehr nuclear power plant, just outside the southern city of Bushehr, Iran, Oct. 26, 2010. (Majid Asgaripour/Mehr News Agency via AP)

An Israeli military official says “it was a mistake” for IDF Spokesman Brig. Gen. Effie Defrin to have said today that Israel had struck the Bushehr nuclear site in Iran.

Defrin said in response to a question at a press conference, “The Air Force continues to strike and intensify its attacks on all components, as defined in our war objectives. We have struck nuclear sites in Bushehr, Isfahan and Natanz, and we will continue to target additional facilities.”

The official would only confirm that Israel had hit the Natanz, Isfahan and Arak nuclear sites in Iran.

Pressed further on Bushehr, the official said he could neither confirm nor deny that Israel had struck the location, where Iran has a reactor.

END

IAF drones struck Iranian soldiers who were repairing ballistic missile launch sites, says IDF

By Emanuel Fabian FollowToday, 4:22 pm

Smoke rises after an Israeli attack, in Tehran, Iran, June 18, 2025. (AP/Vahid Salemi)

Israeli Air Force drones struck Iranian engineering equipment and killed dozens of soldiers who were attempting to restore ballistic missile launch sites in Iran, the military says.

The IDF says that in recent days, it identified several attempts by the Iranian military to restore ballistic missile launch and storage sites that had been previously targeted.

“Aircraft struck and destroyed the engineering equipment and eliminated dozens of soldiers of the Iranian military operating in the area,” the military says.

END

ISRAEL IRAN

Now Israeli has blown up 1/2 of all Iran ballistic missile launchers. Once we get 100% then Iran is defenseless!

IDF close to destroying half of Iran ballistic missile launchers, ‘hundreds’ already blown up

Already on Monday, the IDF said it had destroyed 120 Iranian ballistic missile launchers, which it placed at around one-third of the total.

AN IRANIAN FLAG is pictured near in a missile during a military drill, with the participation of Iran’s air defense units in October.(photo credit: WANA/REUTERS)ByYONAH JEREMY BOBJUNE 19, 2025 13:17Updated: JUNE 19, 2025 16:21

The IDF is close to the tipping point of destroying half of Iran’s ballistic missile launchers, sources told the Jerusalem Post on Thursday.

The disclosure came after IDF Spokesman Brig.-Gen. Effie Defrin, on Thursday afternoon, noted that the air force has now destroyed “hundreds” of such launchers.

Such statistics could be highly significant because there is a likely tipping point around 50-70% damage to Iranian launchers where, even if the Islamic Republic still has 15,000 ballistic missiles left, it will be unable to launch more than 10-30 at a time, which will make it much easier to shoot down all of the missiles.Already on Monday, the IDF said it had destroyed 120 Iranian ballistic missile launchers, which it placed at around one-third of the total.

Military successes and drawbacks in Iran

The latest statistics on Thursday suggest that this initial estimate may have been overly optimistic.

The four impact points from Iranian missiles on Thursday morning, causing mass damage and wounding around 150 civilians, show that the threat still remains very real.

But the reduction of  Iran firing hundreds of missiles at a time down to dozens has already become a clear trend for multiple days consecutively, showing that the IDF does seem to be getting closer to a tipping point.

ISRAEL/IRAN

Iran blames Israel for hacking state TV broadcast with calls for uprising

Transmission interrupted with footage from 2022 women’s protests against the regime; state broadcaster later warns viewers that ‘Zionist enemy’ is disrupting satellite service

By AFP and ToI StaffToday, 1:23 am

Screen capture from video of an interruption by hackers to Iran’s state television network broadcast showing past protest by women against the regime, June 18, 2025. (X: Used in accordance with Clause 27a of the Copyright Law)

TEHRAN, Iran — Iranian media said Wednesday that Israel briefly hacked the state television broadcast, airing footage of women’s protests and urging people to take to the streets.

On its Telegram channel, the Hamshahri daily newspaper shared a video of the brief disruption with a text saying “hackers infiltrated state television and broadcast a call asking people to take to the streets.”

Iran’s state television later warned viewers that this was “due to cyberattacks carried out by the Zionist enemy that is disrupting the satellite transmission.”

Israel’s United Nations spokesperson Jonathan Harounoff also shared a clip of the television disruption.

The clip apparently contained footage from 2022 during mass protests against the government over the death of Mahsa Amini, a woman held by the country’s morality police.

It came as Iran limited internet service, claiming Israel was using the medium for military purposes.

Israel on Friday launched a campaign of airstrikes in Iran to decimate the Islamic Republic’s nuclear and ballistic missile programs, which Jerusalem characterized as an imminent, existential threat. Iran has responded with deadly barrages of ballistic missiles at civilian population centers and military targets in Israel.

Though Israel has said that its military campaign is not aimed at bringing down the Iranian regime, Prime Minister Benjamin Netanyahu has made a series of comments in favor of that outcome.

In a Hebrew interview aired on Channel 14 on Wednesday, Netanyahu said of the Iranian people, “In the end, they have to rise up themselves, but we are creating the conditions” for an overthrow.

The prime minister twice claimed that “80 percent” of Iranians “hate” the ruling regime, without providing where the figure came from.

Netanyahu also told Fox News on Sunday that regime change in Iran “could certainly be the result” of Israel’s ongoing military campaign, though he did not say it was the goal.

In this photo taken by an individual not employed by The Associated Press and obtained by the AP outside Iran, Iranians protest the death of 22-year-old Mahsa Amini, in Tehran, October 27, 2022. (AP Photo, File)

Hours after Israel began its attacks on Iran, Netanyahu addressed Iranians directly in an English language video, saying it will “clear the path for you to achieve your freedom,” as he denounced the Islamic Republic as an “evil and oppressive regime.”

“Our fight is against the murderous Islamic regime that oppresses and impoverishes you,” he further said, adding: “This is your opportunity to stand up and let your voices be heard.”

Earlier Wednesday, Israel had hit Iran’s police headquarters in Tehran, as the IDF kept up heavy strikes across the Islamic Republic on the sixth day of fighting between the two countries, and as thousands continued to flee the Iranian capital.

Jets “destroyed the headquarters of the Iranian regime’s internal security, the main arm of the Iranian dictator’s oppression,” Defense Minister Israel Katz said.

And on Monday, Israel bombed Iran’s state broadcaster building in Tehran in the middle of a transmission, sending Sahar Emami, an anchor at the Islamic Republic of Iran News Network, hurrying off-camera as the screen behind her cut out.

Israeli media pundits have noted that some of Israel’s bombing runs in Iran are destroying the state’s symbols of power and its ability to govern, a move that would pave the way for an uprising against the regime.

Iran has long insisted its nuclear program was peaceful, though it is the only non-nuclear-armed state to enrich uranium up to 60%, a short, technical step away from weapons-grade levels of 90%.

END

USA/ISRAEL IRAN

US Starts Evacuating Diplomats From Embassy In Israel, As Prospect Of US Entry Into War Lingers

Thursday, Jun 19, 2025 – 11:20 AM

As tensions escalate between Israel and Iran, and the prospect of direct Pentagon involvement against Iran lingers, the US State Department has begun evacuating diplomats and their families from the American embassy in Israel. So far these are diplomats deemed ‘nonessential’ personnel.

According to American officials cited in The Associated Press, a government aircraft transported several diplomats and family members who requested to leave on Wednesday.

The exact number of individuals on the flight or those who may have exited via land routes to Jordan or Egypt – or sea routes – remains unclear. 

The AP notes that the evacuation flight occurred shortly before US Ambassador to Israel Mike Huckabee posted on X that the embassy was preparing evacuation plans by air and sea for private US citizens – including by arranging cruise liners to assist with logistics. 

However, just hours later, the State Department’s Bureau of Consular Affairs said on X that there are as yet no official plans (as of Wednesday) to assist private Americans in leaving Israel or the Palestinian territories.

Some 600,000 Americans had lived in Israeli prior to the start of the Gaza war, however, most are residents and have dual citizenship.

Already, going back to the Hamas terror attack of Oct. 7, 2023 – and Israeli military assault on Gaza – there have been a steady stream of Americans and foreigners departing Israel.

Tel Aviv overnight came under heavy Iranian ballistic missile attack, and there have been missile attacks on the north as well. Israel’s air defenses have been overwhelmed, and Israel’s military has admitted that many warheads have made it through, with a major hospital also having been hit.

Iran has been getting hit hard by Israeli warplanes for nearly a week, but the country’s elite IRGC has been touting recent new waves of “complex rocket and drone attacks on military targets” in Haifa and Tel Aviv – in a Thursday statement.

There’s no solution on the horizon, and while European countries scramble to also get their citizens out, there are so far unsuccessful efforts to get the Iranians back to the nuclear negotiating table. In terms of escalation, much may depend on what the White House decides in terms of the level of its direct involvement in the aerial war.

ISRAEL/USA/IRAN/THURSDAY

Trump Has Reportedly Approved Iran Attack Plans But Is Withholding Final Order

Wednesday, Jun 18, 2025 – 05:30 PM

Update(1730ET): As President Trump convenes a White House situation room meeting this Tuesday early evening, and following Ayatollah Khamenei’s earlier televised speech vowing ‘we will not surrender’ – The Wall Street Journal is reporting that Trump has made the decision:

President Trump told senior aides late Tuesday that he approved of attack plans for Iran, but was holding off to see if Tehran would abandon its nuclear program, people familiar with the deliberations said. Iran’s well-defended Fordow enrichment facility is a possible U.S. target. Israel has yet to attack the facility, which is buried under a mountain and is generally considered by military experts to be out of reach of all but the most powerful bombs.

Asked earlier if he had decided whether to strike at Iran’s nuclear facilities, Trump said, “I may do it, I may not do it.” And he repeated his insistence of Iran’s unconditional surrender: “The next week is going to be very big, maybe less than a week.”

Is this yet another last ditch effort to strong arm Tehran to the negotiating table, where Trump’s hope is that it will declare zero enrichment? Has the US Commander-in-Chief painted himself into a corner, and now it’s all zero sum? The Iranians remain under heavy Israeli bombing, and with leadership likely in deep bunkers, are unlikely to negotiate the end of their own ‘regime’. Trump may have finally pulled the trigger here. Where’s Congress? 

Meanwhile, elements of the Right and elements of the Left are uniting around this simple and very reasonable observation

END

ISRAEL/USA IRAN

not sure if Trump wants to attack Iran

(JerusalemPost)

Netanyahu, IDF chief lead meeting with top US officials as Trump mulls attack on Iran – exclusive

The meeting took place as the US was deliberating whether to join Israel in strikes against Iran.

Israeli Prime Minister Benjamin Netanyahu, accompanied by U.S. President Donald Trump, U.S. Vice President J.D. Vance, Secretary of State Marco Rubio, and U.S. National Security Adviser Michael Waltz, speaks during a meeting in the Oval Office of the White House on April 7, 2025 in Washington, DC.(photo credit: KEVIN DIETSCH/GETTY IMAGES)ByAMICHAI STEIN, JERUSALEM POST STAFF, REUTERSJUNE 20, 2025 13:23Updated: JUNE 20, 2025 14:19

Prime Minister Benjamin Netanyahu, IDF Chief of Staff Eyal Zamir, Defense Minister Israel Katz, Strategic Affairs Minister Ron Dermer, and other Israeli officials met with officials from the Trump administration, which included Vice President JD Vance and Defense Secretary Pete Hegseth, on Thursday night, two sources with knowledge of the meeting told The Jerusalem Post. 

The meeting took place as the US was deliberating whether to join Israel in strikes against Iran. US President Donald Trump said he would make a decision in a matter of two weeks on whether the country would join the strikes against the Islamic Republic.

Citing a message from Trump, White House Press Secretary Karoline Leavitt told reporters: “Based on the fact that there’s a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks.”

Leavitt told a regular briefing that Trump was interested in pursuing a diplomatic solution with Iran, but his top priority was ensuring that Iran could not obtain a nuclear weapon.

US aircraft carriers and cargo planes to be sent to Middle East

Three US aircraft carriers are expected to be positioned in the region, with ten US military cargo planes en route to US Central Command bases in the Middle East.

ISRAEL IRAN/FRIDAY

it looks like the USA will not join Israel in their attack on Iran

(JerusalemPost)

Netanyahu, IDF chief lead meeting with top US officials as Trump mulls attack on Iran – exclusive

The meeting took place as the US was deliberating whether to join Israel in strikes against Iran.

Israeli Prime Minister Benjamin Netanyahu, accompanied by U.S. President Donald Trump, U.S. Vice President J.D. Vance, Secretary of State Marco Rubio, and U.S. National Security Adviser Michael Waltz, speaks during a meeting in the Oval Office of the White House on April 7, 2025 in Washington, DC.(photo credit: KEVIN DIETSCH/GETTY IMAGES)ByAMICHAI STEIN, JERUSALEM POST STAFF, REUTERSJUNE 20, 2025 13:23Updated: JUNE 20, 2025 13:43

Prime Minister Benjamin Netanyahu, IDF Chief of Staff Eyal Zamir, Defense Minister Israel Katz, Strategic Affairs Minister Ron Dermer, and other Israeli officials met with officials from the Trump administration, which included Vice President JD Vance and Defense Secretary Pete Hegseth, on Thursday night, two sources with knowledge of the meeting told The Jerusalem Post. 

The meeting took place as the US was deliberating whether to join Israel in strikes against Iran. US President Donald Trump said he would make a decision in a matter of two weeks on whether the country would join the strikes against the Islamic Republic.

Citing a message from Trump, White House Press Secretary Karoline Leavitt told reporters: “Based on the fact that there’s a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks.”

Leavitt told a regular briefing that Trump was interested in pursuing a diplomatic solution with Iran, but his top priority was ensuring that Iran could not obtain a nuclear weapon.

US aircraft carriers and cargo planes to be sent to Middle East

Three US aircraft carriers are expected to be positioned in the region, with ten US military cargo planes en route to US Central Command bases in the Middle East.

END

ISRAEL IRAN/FRIDAY

missiles fired

Sirens triggered across northern and southern Israel amid Iran missile attack

By Emanuel Fabian FollowToday, 3:41 pm

Sirens are sounding across northern and southern Israel amid Iran’s latest ballistic missile attack.

An early warning was issued to most of the country.

For second day in row, Iran missile hits Beersheba, damaging buildings, wounding 7

Iran planned larger barrage on southern city; none seriously hurt; IDF says four drones downed overnight; dozens of targets hit in wave of Israeli airstrikes on Tehran

By Emanuel Fabian FollowToday, 9:58 am

Israeli security and rescue forces at the scene of an Iranian ballistic missile impact in Beersheba, June 20, 2025. (Flash90)

An Iranian ballistic missile struck Beersheba in southern Israel on Friday morning, lightly wounding seven people and causing substantial damage to homes, as Israel and Iran continued their exchange of fire.

The southern city’s Soroka Hospital, which was hit by an Iranian strike a day earlier, said it had received seven casualties, all lightly injured.

The missile struck a road near several apartment blocks, creating a large crater and setting several cars on fire. Firefighters rushed to the scene to extinguish the blaze.

The shockwave from the impact ripped apart the adjacent apartment building’s balconies and blew out the windows in other surrounding structures, sending glass shards and chunks of debris flying.

Residents of the damaged buildings, the vast majority of whom were sheltering in their bomb safe rooms, were evacuated by police, Magen David Adom medics, and Home Front Command search and rescue soldiers.

MDA said it treated five people who were slightly hurt by the shockwave, blunt trauma, smoke inhalation, as well as acute anxiety. They were taken to Soroka hospital, along with others in the city who were hurt after falling while running to shelters.

The scene of a ballistic missile impact in Beersheba, June 20, 2025. (Magen David Adom)

Speaking to reporters at the scene, Beersheba Mayor Ruvik Danilovich said, “The self-discipline of the residents who immediately entered safe spaces saved lives.”

“There’s major damage, but people acted according to Home Front Command guidelines and saved themselves. Our challenge is to gather the residents and find a solution for them. We’ve prepared for this,” he said.

The scene of an Iranian ballistic missile impact in the southern city of Beersheba, June 20, 2025. (Emanuel Fabian/Times of Israel)

One missile was fired from Iran in the attack, which was not intercepted by air defenses, an Israel Defense Forces official told The Times of Israel.

The IDF reported striking other primed ballistic missile launchers in Iran, foiling a larger attack.

“The Iranians planned this morning a larger barrage at Beersheba. Before the launch, we identified preparations of three primed launchers… we destroyed them,” IDF Spokesman Brig. Gen. Effie Defrin said in a press conference.

Defrin said the Israeli Air Force’s continued strikes on Iran “reduce the harm to the home front.”

The scene of an Iranian ballistic missile impact in the southern city of Beersheba, June 20, 2025. (Emanuel Fabian/Times of Israel)

Earlier in the night, around 3 a.m., the Israel Air Force said it intercepted three Iranian drones that had triggered sirens in the Dead Sea.

Another drone was intercepted over Haifa shortly after midnight, the military said.

The IDF released footage showing some of the interceptions.

Iran has fired over 450 ballistic missiles and around 1,000 drones at Israel in the past week.

Most have been shot down by Israel’s air defenses, which detect incoming fire and shoot down missiles heading toward population centers and critical infrastructure.

The military has routinely emphasized that, as good as Israel’s multilayered air defenses are, the coverage they provide is not hermetic. It has urged Israelis to heed Home Front Command instructions to take shelter in safe rooms and bomb shelters when incoming missile warnings are received.

The scene of an Iranian ballistic missile impact in the southern city of Beersheba, June 20, 2025. (Magen David Adom)

Tehran strikes continue

The military said on Friday that the IAF had carried out a wave of strikes overnight, targeting dozens of Iranian military facilities and a nuclear research site.

More than 60 fighter jets were involved in the strikes, dropping 120 munitions, according to a statement by the military, which added that the targets included “several industrial missile production sites” in Tehran, which had served as “the industrial core of Iran’s Defense Ministry.”

“Among the targets were military industrial sites producing missile components and facilities for manufacturing raw materials used in casting missile engines,” the IDF said.

The strikes also hit the “headquarters of the SPND nuclear project,” the statement added, referring to a site that had already been targeted since the current conflict with Iran began.

“SPND serves as a hub for research and development of advanced technologies and weaponry for the Iranian regime’s military capabilities. It was established in 2011 by Mohsen Fakhrizadeh, the founder of Iran’s nuclear weapons program,” the statement said.

Another site that was struck had been used to manufacture a “component essential to the regime’s nuclear weapons program.”

The military said that on Friday morning, the IAF struck three ballistic missile launchers primed for an attack on Israel, along with an Iranian military commander who was operating at the launch site in Iran, and issued footage of the strikes.

The strikes, according to the IDF, took place shortly before the missile attack on Beersheba and had foiled a larger attack on the southern city.

It issued footage of the strikes.

Earlier in the night, the IDF issued an evacuation warning for Iranian civilians in the Sefidrood Industrial Park and the village of Kalash Taleshan in the country’s northwest.

The warning was issued ahead of what the IDF said is a continuation of its strikes on Iranian military infrastructure across the country, but no strikes in the area have so far been reported.

With Iran’s internet being shut off to the outside world, it is unclear just how many people in Iran would be able to see the message.

Additionally, on Friday, the military said IAF fighter jets in recent days struck several Iranian air defense batteries in Isfahan and Tehran, as part of efforts to expand its air supremacy in Iran.

The military said the strikes hit the surface-to-air missile launchers and radars, “that were intended to target IDF aircraft and prevent their operations.”

IAF fighter jets and drones “continue to operate freely over Iran, striking military targets of the Iranian regime in western and central Iran,” the IDF said, adding that it will “continue working to expand aerial freedom of action in Iranian skies and to achieve air superiority.”

Israeli Air Force strikes on Iranian air defense systems in Tehran and Isfahan, in footage published on June 20, 2025. (Israel Defense Forces)

On June 13, Israel launched a campaign of airstrikes in Iran to decimate the Islamic Republic’s nuclear and ballistic missile programs, which Jerusalem characterized as an imminent, existential threat. Iran has responded with deadly barrages of ballistic missiles at civilian population centers and military targets in Israel.

Iran, which vows to destroy Israel, has always denied any ambition to develop nuclear weapons, but its enrichment levels reach far beyond any civilian purpose, and the IAEA says it has obstructed inspectors from visiting its nuclear sites.

A Washington-based Iranian human rights group said at least 639 people, including 263 civilians, have been killed in Iran and more than 1,300 wounded.

So far, Iran’s missile attacks have killed 24 people and wounded thousands in Israel, according to health officials and hospitals. Massive damage has been caused to residential areas in several of the strikes.

ISRAEL IRAN USA/FRIDAY/OPINION

US Intel: Iran Likely To Pursue Nukes If US Joins Israel’s War – Trump Worried About ‘Libya Scenario’

Friday, Jun 20, 2025 – 06:55 AM

Reiterating a long-running US intelligence community consensus that Iran has not been building a nuclear bomb, US intelligence officials are warning that an American entry into Israel’s war would likely incentivize Iran to pursue becoming a nuclear-weapon state after all. Meanwhile, insiders say President Trump is wary of turning Iran into “another Libya” if Israel’s regime-change ambitions are somehow realized.   

In other major developments: 

• President Trump on Thursday issued a statement seemingly granting more time for a diplomatic solution: “Considering there’s a significant likelihood of negotiations that may or may not happen with Iran soon, I will determine whether or not to engage in the next two weeks.” 
• The Pentagon’s Defense Threat Reduction Agency has advised top officials that America’s formidable 30,000-pound bunker-buster bombs may be insufficient to destroy Iran’s nuclear enrichment facility buried in a mountain at Fordo — and that doing so may require a nuclear bomb. Otherwise, even in the wake of bombings of various other facilities, Iran could conceivably be capable of producing a bomb if it decided to.  
• Steve Bannon joined Donald Trump for lunch at the White House on Thursday; Bannon is staunchly opposed to America entering Israel’s war, telling an audience, “We can’t do this again. We’ll tear the country apart. We can’t have another Iraq.”  
• Iranians have largely been cut off from the internet for more than 36 hours, with some observers claiming it reflects the government working to stifle domestic dissent, but most attributing it to Iranian wariness of potential cyberattacks.
• Israel and Iran traded more attacks over Thursday night, with the Israeli Air Force claiming it hit ballistic missile launchers, missile production facilities and a nuclear research center, and Iran hitting the city of Beersheba, with unconfirmed reports of damage to a Microsoft building.

Speaking to the New York Times, senior intelligence officials say a US strike on the uranium enrichment facility buried under 300 feet of mountainous rock at Fordo, or a US-facilitated assassination of Iranian supreme leader Ayatollah Ali Khamenei, would probably push Iran to build a nuclear bomb to deter further aggression against it. In 2003, Khamenei issued a religious order — or fatwa — prohibiting the development of any kind of weapon of mass destruction. That edict is “right now holding,” a senior intel official told the Times. 

One of the officials cast doubts on Israeli claims that Iran could have a bomb in 15 days. Iran would first have to take uranium it’s already enriched to 60% and enrich it to 90%. That’s probably the easiest part. Next, they’d have to construct a nuclear explosive device, and miniaturize it so it can fit inside a missile warhead. As an alternative, US intel analysts speculate that Iran could build a crude, 10,000-pound Hiroshima-style bomb that would have to be dropped by plane — which wouldn’t be a particularly credible deterrent. The analysts say that, contrary to Israeli claims, it would take between several months and a year to have a missile-ready warhead after a hypothetical decision to pursue one. Of course, it’s always worth noting that Netanyahu has been warning of an imminent Iranian nuclear bomb since 1992 — when he said they would have one by 1997 at the latest.  

The US assessment that Iran has not decided to pursue a nuclear weapon comes three months after the same conclusion was shared with Congress by Director of National Intelligence Tulsi Gabbard, which in turn came 18 years after the intelligence community first made that assessment. When confronted with Gabbard’s testimony in the wake of Israel’s bombing-and-mass-assassination attack on Iran, Trump told a reporter, “I don’t care what she said. They were very close to getting a nuke.” Vice President JD Vance offered his own flimsy deflection in a social media post, writing “Tulsi’s testimony was in March, and a lot has changed since then.” Thursday’s remarks from senior intel officials severely undercut Trump’s and Vance’s characterizations.  

Unlike nuclear-weapon-state Israel, Iran is a signatory to the nuclear Non-Proliferation Treaty (NPT) and has long insisted that its nuclear program is peaceful. In 2015, Iran signed the Joint Comprehensive Plan of Action (JCPOA), by which it agreed to physical modifications, additional monitoring and other provisions that would assure outsiders that the country would be incapable of enriching uranium to a weapons-grade level. Though Iran was in full compliance, President Trump withdrew the United States from the JCPOA in 2018 and reimposed harsh economic sanctions on the country — having promised to do so in a 2016 presidential campaign fueled by $45 million from Israel-focused billionaires Sheldon and Miriam Adelson. His JCPOA withdrawal came just a month after Trump appointed archetypal Iran hawk and neocon John Bolton as National Security Advisor. 

After several days of the feeling that US engagement in Israel’s war could be imminent, Trump’s setting of a two-week timeframe for making that enormously consequential decision partially reflects his wariness that Iran could turn into a failed state if the Ayatollah’s regime is toppled, according to administration officials who talked to the New York Post. One of the insiders said 

“[He] doesn’t want it to turn into Libya…There are two reasons Trump talks about Libya: the first is the chaos after what we did to Gaddafi. The second is the Libya intervention made it more difficult to negotiate deals with countries like North Korea and Iran.”

Seeking to appease the West, Libyan leader Muammar Gaddafi famously surrendered his nuclear development program in 2003, only to be the victim of a US-NATO regime-change campaign in 2011 that culminated in his being anally raped with a bayonet and then savagely beaten to death. That dark chapter looms as a stark cautionary tale for rulers all around the world facing American demands. 

Meanwhile, Libyans continue to suffer from the result of that Barack Obama-Hillary Clinton toppling of Gaddafi, which led to utter chaos, blacks being sold in open-air slave markets and illegal immigrants pouring into Europe as they flee the Western-cultivated Hell-scape. Insiders say Trump has also raised the specter of the disastrous outcomes of US interventions in Afghanistan and Iraq.  

Trump’s confrontation with the ghosts of failed interventions — past, present and future — comes as Tucker Carlson, other major conservative figures and legions of MAGA social-media users are urging him not to get America involved in another foreign policy disaster. Is the growing right-wing uproar having an effect? 

END

ISRAEL/HAIFA/IRAN/FRIDAY

Two wounded, including teen in serious condition after Iran missile lands in Haifa — MDA

By Emanuel Fabian

Two people are wounded, including a teenager in serious condition, by an Iranian ballistic missile in Haifa, medics say.

Magen David Adom says it is treating a 16-year-old boy in serious condition and a 54-year-old in moderate condition, both of whom were hit by shrapnel.

Medics are scanning other reported impact sites in central and southern Israel.

END

ISRAEL IRAN FRIDAY HAIFA HIT

At least 17 injured, two seriously after two Iranian missiles hit Haifa

A reported heavy barrage of at least 20 ballistic missiles was fired into Israeli territory by Iran.

MDA medics at the scene of an Iranian missile impact, June 20, 2025.(photo credit: MAGEN DAVID ADOM)ByJERUSALEM POST STAFFJUNE 20, 2025 16:05Updated: JUNE 20, 2025 16:33

At least two were seriously injured in Israel’s North as sirens sounded across all of Israel on Friday afternoon following an Iranian missile barrage launch identified by the IDF.

Among multiple impact sites across the country, two of them were in Haifa.

Initial blasts were reported to have been heard in northern Israel, as well as in the Center. At least three were lightly wounded in a hit in the North, in addition to the two in serious condition.

Magen David Adom first responders were sent to scenes of reported impacts, MDA said.

MDA later updated that 12 were wounded from two different impacts.

Israeli media reported a heavy barrage of at least 20 ballistic missiles fired into Israeli territory by Iran.

This is a developing story

END

ISRAEL/IRAN/MASHHAD AIRPORT

IDF destroys aerial refueling aircraft in strike on Mashhad airport in northeast Iran

IAF struck an aerial refueling aircraft in longest-distance strike since Operation Rising Lion began.

Fire blazes at Mashhad Airport after IDF fighter jets struck an Iranian refueling jet, June 15, 2025(photo credit: Via section 27a of copyright act)ByJERUSALEM POST STAFFJUNE 15, 2025 18:21Updated: JUNE 15, 2025 19:09

The IDF struck Mashhad Shahid Hasheminejad International Airport in northeast Iran on Sunday afternoon, the military said.

https://player.jpost.com/public/player.html?player=jpost&media=3912049&url=www.jpost.comFire rages at Mashhad Airport after IDF fighter jets struck an Iranian refueling jet, June 15, 2025 (VIA SECTION 27A OF COPYRIGHT LAW)The airstrike targeted an Iranian aerial refueling aircraft, the military stated, as part of the Israel Air Force’s attempts to establish aerial superiority over Iranian airspace.

Social media accounts controlled by the Islamic Revolutionary Guard Corps showed a pillar of smoke rising in Mashhad. However, Iranian state media claimed that there was no damage to the airport’s buildings or runway.

Mashhad is located approximately 2,300 kilometers from Israel, and this strike marks the longest-range strike conducted since Operation Rising Lion began on Friday morning, the IDF commented.

This is a developing story.

END

A MUST READ OPINION PIECE: FRIDAY

A dramatic turning point: How to define victory in the war against Iran – opinion

Israel must ensure that what happened this past week was not in vain, but remains a dramatic turning point in the history of this region.

DEFENSE MINISTER Israel Katz speaks to the media at the scene of the Iranian missile attack in Holon yesterday. He says that he instructed the IDF to carry out attacks that would ‘undermine’ the Iranian regime.(photo credit: Chaim Goldberg/Flash90)ByYAAKOV KATZJUNE 20, 2025 13:09

Will Donald Trump order the US military to join the war against Iran, or will he continue to sit on the sidelines? As of Thursday afternoon, that is the question dominating Israeli minds.

On the one hand, American involvement is no small matter. It would undeniably shape the trajectory of this war. If the US steps in, particularly with its bunker-busting capabilities, then dealing with Iran’s hardened nuclear sites – most notably the underground Fordow facility – would be faster and far more efficient.

But let’s not assume that US involvement would bring the war to an immediate end. Iran may lack the ability to strike the US mainland, but it retains significant capacity to retaliate against American assets across the region. It can disrupt the Persian Gulf, target American military bases, and hit key allies like Saudi Arabia and the United Arab Emirates.

From Israel’s perspective, the operation so far has been a relative success. Iranian air defenses have largely been neutralized, allowing Israel to operate with almost-complete freedom over Iranian skies. This doesn’t just mean conducting additional strikes, but also the ability to deploy drones and surveillance aircraft to maintain 24/7 intelligence collection over Iranian territory.

This development might be hard to appreciate in the aftermath of Thursday morning’s missile barrage, which struck Soroka Hospital in Beersheba and residential areas in Ramat Gan. But according to the IDF, Iran is struggling to launch the large-scale missile barrages it had hoped for. It reportedly planned to fire hundreds of missiles at a time, as it did in April and October last year.

But that hasn’t happened – not because Iran doesn’t want to, but because many of its launchers and missile bases have been damaged or destroyed by Israel. The result: lower-than-expected volume and effectiveness in Iran’s response.

Then there’s the damage to Iran’s nuclear program. The scope, while impressive, remains incomplete. Natanz – the primary enrichment site – has reportedly sustained extensive damage, according to the IAEA. Arak, the heavy water reactor, appears to have been destroyed. Parchin, a site associated with Iran’s secret weapons development work, has been hit, and Isfahan – the main uranium conversion facility – has also suffered serious damage.

The key to stopping the nuclear program

But one critical site remains: Fordow. The deeply buried enrichment facility near Qom is arguably the most sensitive and hardened site in Iran’s nuclear arsenal. While Israel is not believed to possess a conventional weapon capable of penetrating Fordow – only the US holds the GBU-57 bunker buster, a 13-ton bomb that could do the job – it is difficult to imagine that Israel would have launched this campaign without some plan in place for addressing that facility.

From day one, the declared objective was to deal a decisive blow to Iran’s nuclear program, and that cannot happen without damaging Fordow. IAEA reports suggest that uranium is stored at the site and, if left intact, Iran could quickly refine it, make a crude device, test it and declare itself a nuclear power.

Which is why Israeli officials have said that the campaign will not end without Fordow. And while US support remains strategic, it would be reckless for Israel to have built a plan dependent solely on Washington. Over the last six days, Israel has shown remarkable ingenuity and operational reach – both in the air and on the ground deep inside Iran. There is little reason to believe that Fordow is beyond the reach of that same creativity.

But it’s important to maintain perspective. What Israel is doing is not the destruction of Iran’s nuclear program, but the delay of it. This is not Iraq in 1981 or Syria in 2007, where a single airstrike took out a single facility and ended the program. In both of those cases, the nuclear effort was dependent on foreign assistance. Once destroyed, those regimes lacked the means to rebuild.

Iran is different. The program is indigenous, the know-how is domestic, and while many senior scientists have been killed over the past week, their knowledge is replaceable. Iran can and likely will eventually try to rebuild.

There’s another key difference: in Iraq and Syria, the operation ended the moment the bombs dropped. No retaliation followed. With Iran, it was never going to be that simple. The Islamic Republic has spent years building a vast arsenal of missiles and drones. It has prepared for this moment. A strike was always going to provoke a response, and a prolonged one at that.

SO WHEN will this end? There are three plausible scenarios:

First, Israel could strike Fordow and then declare its mission accomplished. From there, it would adopt a wait-and-see approach, responding only if Iran escalates further. The risk here is that without a mechanism in place to prevent reconstruction, Iran will rebuild, and Israel will be back to square one in a matter of years.

Second, the US could step in, using its superior firepower to destroy Iran’s facilities in a way Israel cannot. Coupled with economic pressure, this could extend the delay significantly. In this case, regime instability becomes a relevant factor. A weakened regime might be forced to suspend its nuclear ambitions just to survive. This is essentially the vision Defense Minister Israel Katz hinted at on Thursday when he said he had instructed the IDF to hit targets that “undermine the regime.”

Third, Iran could agree to return to negotiations and accept restrictions on its enrichment program. A full dismantling is unlikely, but a freeze – especially one verified by international observers – could serve as an off-ramp. That would allow both Israel and the international community to claim success.

One lesson from Gaza is that an exit strategy matters just as much as the entry. Nearly two years after October 7, hostages remain in captivity, and the war continues without a clear endpoint. Israel’s operation against Iran, while brilliantly executed so far – especially in its intelligence penetration and decapitation of the military’s top ranks – must now be translated into a durable outcome.

Success isn’t measured just by what was hit, but by what changes on the ground afterward. The mission has already showcased Israel’s military prowess, but without a long-term mechanism to prevent Iran from simply picking up the pieces, the gains could fade.

Whatever exit is chosen – through destruction, deterrence, or diplomacy – Israel must ensure that what happened this past week was not in vain, but remains a dramatic turning point in the history of this region.

end

INTELLIGENCE/ISRAEL ON IRAN//A MUST READ

Editor’s Notes: This is how the IDF ghost army wires Iran for destruction – comment

The same ingenuity and resolve that carried us through eight months of clandestine planning will carry us through whatever comes next.

PEOPLE WATCH from a bridge as flames from an Israeli attack rise on the Sharan Oil depot in Tehran earlier this week.(photo credit: Majid Asgaripour/WANA via Reuters)ByZVIKA KLEINJUNE 20, 2025 05:59Updated: JUNE 20, 2025 12:09

Over the past decade, Iran’s pursuit of nuclear capabilities and its proxy network, from Hezbollah in Lebanon to militias in Iraq and Syria, have posed existential challenges to Israel. Each threat and attempted escalation has been met with covert and overt responses, refining our doctrine of deterrence and resilience.

It all started eight to nine months ago, when a handful of members of Israel’s intelligence community, as well as the air force, sat in windowless briefing rooms, knitting together the threads of what would become our most sophisticated campaign against the Iranian regime.

Back then, none of them could have predicted just how many domains we’d end up fighting across – air, cyber, intelligence, and information – and just how precise we would have to be to keep civilian harm to the barest minimum.

They’ve grappled with a fundamental problem from day one: First of all, we can’t truly know what ordinary Iranians think, not in a country where the press isn’t free, where there are no reliable polls, and where the regime controls every broadcast.

Yet over the past week, snippets of dissent have leaked through: state TV feeds hacked and replaced by calls to take to the streets, encrypted messaging apps briefly alive with protest, even as the authorities plunged the nation into near-total internet blackouts to snuff out any spark of unrest.

From the start, the IDF’s campaign was designed to be “by-the-books” in its precision. The first night’s strikes hit dozens of residential blocks, and civilian casualties numbered in the single digits. Had the toll been higher, Tehran’s propaganda arm would have screamed it from every rooftop. Instead, they found themselves silenced by the facts: The IDF knew exactly which structures housed centrifuge halls versus family apartments, and Israel calibrated its warheads accordingly.

According to international media, behind the scenes, cyberoperations ran in parallel. Predatory Sparrow, or whatever name you choose to call it, slashed into Iran’s largest crypto exchange, burning nearly $90 million in token reserves. Hours later, state-owned Bank Sepah’s ATM and online networks collapsed under data-wiping malware.

Each digital blow was aimed at Iran’s Islamic Revolutionary Guards Corps (IRGC), which bankrolls its expanse of militias and drone factories through illicit finance networks. This was no sideshow; it was central to Operation Rising Lion’s promise to degrade the regime’s war chest as comprehensively as its missile silos.

Though no government claimed the cyber attack, its scale and timing mirror Israel’s intent to choke off Tehran’s war chest through multi-domain pressure. Those in charge of this cyberattack may be sitting in one of the bomb shelters across Israel, waiting for the Home Front Command cellular app to allow them to return to their homes.

Surgical strikes

Our intelligence and air force officers played their hand with surgical care. Once the missiles stopped flying, Tehran ordered a blackout so severe that NetBlocks data registered connectivity plunging into single digits. That level of throttling isn’t about “cybersecurity” but rather about muzzling any glimpse of the strike footage, any grainy upload of damage that might embolden Iranians to question the narrative they’ve been fed for decades.

Who knows? Maybe Israel is to blame for this disconnect. We will likely only know in a few decades when this operation becomes a standard playbook in militaries worldwide.

Even as bombs and bytes struck in tandem, Israel’s messaging made a point of distinguishing between fighting the regime and targeting ordinary citizens. There’s a world of difference between saying, “We must overthrow the government because it threatens us,” and “We are at war with those who fund and command these attacks at your expense.” The IDF wanted to keep the focus squarely on the IRGC’s infrastructure, not on the people caught in the crossfire.

And make no mistake: Despite the pundits who dismiss us as a one-trick pony, this mission bore all the hallmarks of the Israeli way: ingenuity under pressure, rapid improvisation, and a stubborn faith that we could pull it off.

Literally years of planning laid the groundwork: By last November, military intelligence and Mossad analysts were already running simulations on how to collapse key enrichment cascades at Natanz and Fordow with minimal collateral damage. In parallel, Mossad operatives smuggled suitcase drones into Iran’s border provinces, ready to blind radar arrays ahead of the opening salvo.

When those jets finally roared in at dawn, they weren’t just following flight plans; they were executing a doctrine built on flexibility of mind. We briefed our best scientists and engineers on zero-margin blast effects, we rehearsed communications blackouts, and we vetted every bombing coordinate against civilian footprints gathered from high-resolution imagery. That’s why, even though we struck dozens of sites, Iranian street cameras showed almost no evidence of mass casualties.

ON THE diplomatic front, too, we leaned in. While US President Donald Trump publicly dangled the threat of American strikes should Tehran continue its nuclear advances, behind closed doors, he granted us the green light to proceed, so long as we kept the death toll low and the operation limited in scope. It’s not often that you see a US president and an Israeli prime minister coordinating multi-domain operations with that level of trust.

Yet, for all our precision, Israel knew the risks. The regime’s next move was predictably brutal: volleys of ballistic missiles armed with modified cluster-munition warheads. One of these rockets showered Holon and Azor with submunitions designed to tear through apartment windows and cars – an escalation we hadn’t seen before in the same conflict. Cluster bomblets crashed on Israeli soil, littering the ground with lethal scrap for weeks and turning everyday streets into minefields.

And still, Iran persisted. Their cyberwarriors struck back, hijacking broadcast feeds to show images of their own “martyrs” and warning Iranians that our “terrorist” campaign would only intensify. The regime’s playbook is simple: heighten fear to crush dissent, then point the finger at “external enemies” to rally a battered population.

So what have we learned?

First, true deterrence demands multi-domain integration: air power alone won’t cut it, nor will cyber raids executed in isolation. The IDF found itself orchestrating espionage, sabotage, strikes, and propaganda in perfect synchrony.

Second, the regime’s vulnerabilities go far beyond centrifuges and missile silos; they lie in their own brittle information environment. Cutting off their headlines and their HOD IMs can sometimes hurt as much as a cruise missile.

Third, this conflict has ushered in a new era of “precision terror”: cluster munitions, blockchain burn wallets, and hastily imposed blackouts.

Looking forward, the question is whether this model can hold. Iran’s leadership has already vowed to target US bases and Gulf partners if we press on. Hezbollah is on high alert; militias in Iraq and Syria are primed to strike. Our challenge will be to calibrate our following options, sabotage or strike, so that the regime feels enough pain to back off but not so much that it lashes out in a wave of unpredictable proxy attacks across the region.

At home, we prepare for what’s next. Hospitals run drills for blast victims and cyber-lockdown survivors. Schools teach shelter-in-place routines, and ordinary families stockpile food and water. Yet, amid the tension, one fact endures: The same ingenuity and resolve that carried us through eight months of clandestine planning will carry us through whatever comes next.See more on

end

This is probably where it is heading:

Alarming Fox Report Says Tactical Nukes ‘Not Off The Table’ For Trump’s Iran Response

Friday, Jun 20, 2025 – 12:20 PM

We described earlier that the Pentagon’s Defense Threat Reduction Agency (DTRA) has reportedly informed American officials that destroying Iran’s heavily fortified Fordow nuclear facility might require the use of a nuclear weapon, based on The Guardian.

Officials, briefed on the limitations of the GBU-57 — a 30,000-pound conventional bunker-buster bomb — are worried that even if President Trump give the order it may not be powerful enough to reach and destroy the deeply buried site.

The report described that conventional bombs might have to be used to soften the terrain, followed by the dropping of a tactical nuclear weapon from a B-2 stealth bomber.

The latest reporting has sought to clarify that President Trump is not considering the nuclear option, nor has it yet to be formally presented to him by Defense Secretary Pete Hegseth. From fresh ‘anonymous’ White House statement present contradictory information.

So very quickly, here we are… there’s prominent public discourse about the ‘possibility’ or eventual ‘necessity’ of a nuclear bomb. As the Quincy Institute’s Eli Clifton observes:

It’s disturbing but not surprising how the entire Executive Branch communications apparatus can be activated into total war-hysteria mode seemingly overnight.

Israel is urging the US under Trump to target Fordow with whatever it takes, given it lacks the capability to carry out such a strike.

But at least it’s ‘comforting’ that a tactical nuke is off the table, for now… or wait:

“none of the options are off the table” – a fresh FOX report claims, citing a senior White House official.

All this is premised on Israeli Prime Minister Benjamin Netanyahu’s claim that Iran is in fact pursuing a nuclear weapon.

Dangerously the White House seems to be siding with Israeli intelligence over the assessment of the US intelligence community, as presented by DNI Tulsi Gabbard, who may have already been sidelined in White House Situation Room discussions.

* * *

The Publication Bulletin of the Atomic Scientists are meanwhile warning that it’s possible that the Fordow enrichment facility could be destroyed and yet still it won’t make the Iranian nuclear threat go away…

If the Israeli attack on Iran’s nuclear program, started on June 13, is to prove successful in preventing Iran from developing nuclear weapons, then a necessary—but not sufficient—step will involve the elimination of the Fordow Fuel Enrichment Plant.

At the Fordow plant, located near the city of Qom, the Iranians have enough centrifuges (including IR-6s, their more advanced type) and uranium hexafluoride gas to produce several nuclear weapons. They could probably produce enough weapon-grade (90 percent) enriched uranium for one nuclear weapon within five to six days. Perhaps more important, Fordow itself is a hardened facility, built within a mountain and protected from many forms of attack. It could—in theory—continue to operate even after other nuclear facilities in the country have been destroyed, with its material then fueling nuclear weapons to be produced clandestinely.

If Israel decides to continue down the military path against Iran’s nuclear program, it has no choice but to ensure that the Fordow enrichment plant no longer poses a threat.

https://x.com/BulletinAtomic/status/1935351233813909593?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1935351233813909593%7Ctwgr%5E2897ffec9a686a44c7fb06d15ffb9e0bacd025e5%7Ctwcon%5Es1_&ref_url=https

Full Bulletin report here.

END

IRONIC

Iranian ballistic missile damages oldest, second oldest mosques in Haifa

Foreign Minister Gideon Sa’ar said that the attack had injured the Muslim clerics who were in Al Jarina Mosque at the time.

Impact site following Iranian missile strike on downtown Haifa, next to the 300-year-old Zahir al-Umar Mosque, June 20 ,2025.(photo credit: IDF HOME FRONT COMMAND)ByYUVAL BARNEAJUNE 20, 2025 18:38Updated: JUNE 20, 2025 20:57

An Iranian missile strike, which hit Haifa on Friday afternoon, damaged the city’s oldest and second-oldest mosques as it struck Haifa’s downtown.

The strike damaged the Masjid Al-Saghir, built in 1761 by Zahir al-Umar, and the Al Jarina Grand Mosque of Haifa, built in 1775 but enlarged by the Ottoman Empire in 1901.

President Isaac Herzog took to X to condemn the “outrageous attack” on “a city that stands as a symbol of coexistence between Jews, Muslims, Christians, Druze, Circassians, and Bahá’ís.”

“They try to kill Israelis of all faiths—Muslims included. We will defend all Israelis. All faiths included,” he said.

Foreign Minister Gideon Sa’ar accused the Iranian regime of targeting the historic mosques and the Wadi Nisnas neighborhood. He informed the public that the attack had injured the Muslim clerics who were in Al Jarina Mosque at the time.

https://x.com/gidonsaar/status/1936066230202294767?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1936066230202294767%7Ctwgr%5Eaa4a60392396c45df64a3f2c2057e31fa5764844%7Ctwcon%5Es1_&ref_url=https

“The Iranian regime is targeting Muslim, Christian, and Jewish civilians, as well as civilian sites. These are war crimes,” Sa’ar said.

The two mosques represent some of the oldest buildings in Haifa and date back to the founding of the modern city by the Ottoman governor of the Galilee, Zahir al-Umar, who is responsible for the rebuilding and fortifying multiple modern cities across the Galilee, including Haifa, Acre, Nazareth, Tiberias, and numerous smaller villages in the region.

Later on Friday, Sa’ar arrived at the scene of the damage to the mosque and gave a statement to foreign press.

“We see here once again the results of the Iranian strategy. The Iranian regime is deliberately targeting civilian population centers. Therefore, you can see that a pure civilian area was hit here. Specifically, in that case, a mosque,” Sa’ar said.

“It’s a war crime. This is clear, because according to international law, you cannot target civilian population centers. But it is also a mistake because the root of it is a lack of understanding of the Israeli society. The Israeli society is strong. It strongly supports our operation in Iran. They all want to remove the double existential threat – the nuclear threat and the missile threat. Therefore, we will continue our operation and will not stop for even one minute before we will achieve our goals,” he concluded.

END

WATCH: IAF jets strike Iranian missile launchers, prevent barrage against Israel

The IDF said the launchers were expected to be used in the multiple missile barrages fired at Israel throughout Friday.

(illustrative) A missile is launched during an annual drill in the coastal area of the Gulf of Oman and near the Strait of Hormuz, Iran.(photo credit: REUTERS)ByJERUSALEM POST STAFFJUNE 20, 2025 19:29Updated: JUNE 20, 2025 19:30

The IDF announced on Friday that it had struck an Iranian missile crew in the process or preparing to launch missiles at Israel in strikes conducted overnight.

Israeli Air Force jets located and struck three surface-to-surface missile launchers being prepped for use against Israel.

The IDF said the launchers were expected to be used in the multiple missile barrages fired at Israel throughout Friday.

At the same time, IDF drones identified a group of Iranian soldiers, including an IRGC commander responsible for at least 15 missile launchers, preparing to launch more missiles. 

The IAF targeted and destroyed the group, killing the commander.

END

USS Nimitz Carrier Strike Group Will Arrive In Mideast Waters This Weekend

Friday, Jun 20, 2025 – 01:00 PM

The USS Nimitz carrier strike group is en route to Middle East waters and is expected to arrive this weekend, a US official tells Fox news on Friday, after the carrier departed the South China Sea on Monday.

This is the latest confirmation that the US Navy will now have two aircraft carriers in the Middle East at the same time. While reports previewed this movement earlier this week, making it no surprise, this is the first revelation of a more precise timeline.

As for the prior reporting via military sources, Stars & Stripes stated, “The aircraft carrier and its strike group left Bremerton, Wash., in March for the Indo-Pacific region for what is expected to be the ship’s final deployment. Now, the Nimitz and the warships sailing with it will join the aircraft carrier USS Carl Vinson in the Middle East, the defense official said.

Currently, the USS Carl Vinson is already positioned in the Arabian Sea, while the Navy has also lately confirmed deployment of the carrier USS Gerald R. Ford to the Mediterranean, presumably as ‘back-up’ – though that mission had long been shechuled.

As for the Nimitz, its is currently underway westbound from the Strait of Malacca. So this will place in total three carriers within reach of the Middle East theatre of operations.

Stars & Stripes has recently offered the following background on the last week of the Iran-Israel aerial war:

Each carrier strike group typically brings with it one attack submarine, one cruiser and two or more destroyers, in addition to an air wing of F/A-18 Super Hornets and (on some carriers) F-35 Lightning strike fighters. The overall package delivers a powerful land-attack punch, but also enhances regional air defense with a combination of anti-aircraft, anti-drone and anti-ballistic-missile capabilities. 

Two destroyers operating in Central Command have already been involved in defeating Iranian ballistic missile attacks on Israel over the past week, a Navy official told Norfolk’s WAVY. USS The Sullivans and USS Arleigh Burke both expended interceptors over the weekend to shoot down Iranian attacks, the official confirmed. 

President Trump conveyed via the White House Press Secretary on Thursday afternoon that he will make a decision on striking Iran within the next two weeks.

Trump words and ‘warning’ to Tehran were as follows: “Based on the fact that there’s a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks.”

END

Maybe it is about time Israel knocks out their electricity and bombs Kharg Island

(zerohedge)

Iran Officials Join Large Anti-Israel Street Protests Dubbed ‘Friday Of Rage & Victory’

Friday, Jun 20, 2025 – 03:40 PM

Despite Israeli warplanes conducting regular bombings and around Tehran, and against nuclear and missile sites in Western Iran, tens of thousands have taken to the streets for what activists are calling “Friday of Rage and Victory” after mosque prayers on Friday morning.

The call to protest is being pushed by the Islamic Revolutionary Guard Corps-controlled (IRGC) Fars News, among others. Fars said Iranians should “march to shout for freedom and unity against the oppression and savagery of the Zionists, showing the world that the Iranian nation will not overlook the crimes committed against its land and honor.”

Large crowds have been filmed and photographed in streets of the Iranian capital, and this has even seen some high-ranking Iranian officials join in.

“Among those photographed at the prayer and the march were Chief Justice of Iran Gholam-Hossein Mohseni-Eje’i, former IRGC commander Major General Mohammad Ali Jafari, as well as several ministers and the deputy speaker of parliament, a social media post by Iran’s Jamaran News showed,” Al Jazeera writes.

RT footage of large crowds in Iranian cities on Friday:

State-run English language Press TV has observed similar pro-military demonstrations have taken place in other major  cities, including Mashhad, Isfahan, Tabriz, Qom, Shiraz, Qazvin, Yazd, and Gilan.

Report: Presence of Major General Jafari, the Chief Justice, the Minister of Roads, the Minister of Industry, Mines and Trade, the Deputy Speaker of Parliament, the Minister of Sports, at the Tehran Anger and Victory March and Friday Prayer.

According to more eyewitness accounts of the growing protests via Al Jazeera:

We’re seeing unprecedentedly large demonstrations here in Tehran and in cities big and small across the country. We’ve seen hundreds of thousands of people taking to the streets and marching in solidarity to express their anger over the Israeli attacks, despite the ongoing strikes.

There were striking scenes at Friday prayers at the University of Tehran. People were chanting, waving flags of Iran, Palestine and Hezbollah. We heard many chants saying they supported Iran’s retaliatory actions.

Some people brought pictures of Iran’s Supreme Leader Ayatollah Ali Khamenei, who had called for solidarity among the people after the Israeli strikes began.

These Iranian military actions have continued, as the aerial war reaches one week since the last early Friday morning Israeli surprise attacks, which came at a moment Iran was preparing for more nuclear negotiations with Washington.

While President Trump has said he will decide within two weeks whether to join American forces with Israel’s assault on Iran, the Europeans are scrambling to engage the Iranians in hopes of salvaging some kind of nuclear deal. But the clock is ticking, as Iran’s retaliatory missiles are only growing more destructive, and as Israel’s air defenses struggle to keep up and not be overwhelmed. At least twenty more ballistic missiles have been fired on Israel Friday afternoon (local).

end

ISRAEL/GAZA/WEST BANK/THURSDAY

IDF continues fight in Gaza, West Bank amid ongoing Iran war

IDF troops in Gaza located and destroyed military infrastructure, including launchers, booby-trapped buildings, and tunnel shafts.

IDF soldiers operating in the Gaza Strip, June 12, 2025.(photo credit: IDF SPOKESPERSON UNIT)BySARAH BEN-NUN, REUTERSJUNE 19, 2025 02:29

Military operations in the Gaza Strip and the West Bank are ongoing, notwithstanding the war in Iran, the IDF said Wednesday

In the northern Gaza Strip, soldiers from the Givati Brigade killed three terrorists who were approaching them near Jabalya, it said. The troops also destroyed a building being used for logistical planning and killed two terrorists elsewhere in the area.

The IDF on Tuesday said it had invaded Jabalya for the first time since the war in Iran began last Friday. Since the October 7 massacre, the IDF has invaded the Jabalya area several times.

Military operations also continued in Khan Yunis, the IDF said. Soldiers located a package that appeared to be humanitarian aid but was actually booby-trapped. They fired at it, causing it to explode and collapse the building.

Troops also located and destroyed military infrastructure, including launchers, booby-trapped buildings, and tunnel shafts.

Four divisions are currently operating in the Gaza Strip, IDF Spokesperson Brig.-Gen. Effie Defrin said, adding that soldiers hit 75 terrorist targets over the past 24 hours, including direct combat above and below ground.

“Our goals are clear: The IDF is operating on all of Israel’s fronts to protect its citizens,” he said.

Asked about the status of the Gaza war and the effect on a hostage and ceasefire deal, Defrin said the war goals there had not changed.

“The goals remain the same: Returning the hostages and disabling Hamas’s capabilities,” he said. “We won’t be able to exist alongside a Hamas regime on our border; this is happening at the same time as the fight against Iran.

The Hamas-run Gaza Health Ministry said 30 people had been killed by Israeli gunfire and strikes on Wednesday.Palestinian medics said airstrikes on homes in the Maghazi refugee camp and Zeitoun in central and northern Gaza had killed at least 14 people, while five others were killed in an airstrike on a tent encampment in Khan Yunis in southern Gaza.

Eleven others were killed by Israeli fire at crowds of displaced Palestinians awaiting aid trucks brought in by the UN on Salahuddin Road in central Gaza, the Palestinian medics said.

The IDF said it was looking into the reported deaths of people waiting for food. Regarding the other strikes, it said it was “operating to dismantle Hamas military capabilities” and “feasible precautions to mitigate civilian harm.”

Troops continue anti-terrorist operations

In the northern West Bank, troops continued anti-terrorist operations, focusing on the more peripheral areas, where terrorists have been seeking refuge, the IDF said.

Five battalions were redeployed to the West Bank, focusing on the Balata refugee camp in Nablus, the IDF, the Shin Bet (Israel Security Agency), and the Israel Police said Wednesday.

The Nahal Brigade, which had been fighting in the Gaza Strip until now, had been transferred to the West Bank, they said.

Seven terrorists have been detained, and weapons were confiscated, in a raid of hundreds of structures.The Nahal troops operated on Tuesday night in the town of Meithalun, south of Jenin.

In Kalkilya and nearby towns, Salfit and Jayus, troops arrested three and confiscated four different types of weapons.Throughout the night, five terrorist suspects were detained in several towns in the northern West Bank.

Some of them were affiliated with Hamas and Palestinian Islamic Jihad, had made and thrown explosives at troops, and planned a terrorist attack.

Overnight, in the Palestinian town of Walaja, near Jerusalem, a man armed with a knife tried to stab soldiers who were on site and to steal their weapons. Soldiers shot him.

Operation Iron Wall against terrorism in the West Bank began in January and mainly targeted refugee camps, emptying them. Troops have routinely found and confiscated weapons and cash.

END

ISRAEL HAMAS/THURSDAY

IDF says senior Mujahideen Brigades commander, involved in burying bodies of slain hostages, killed in Gaza strike

By Emanuel Fabian FollowToday, 1:18 pm

An Israeli military handout issued on June 20, 2025, shows Mujahideen Brigades commander Ali Saadi Wasfi al-Agha. (Israel Defense Forces)

An airstrike in the Gaza Strip this week eliminated a senior commander in the Mujahideen Brigades terror group, who was involved in burying the bodies of slain hostages Gadi Haggai and Judih Weinstein, the military says.

The IDF says Ali Saadi Wasfi al-Agha was killed in a strike on a hideout in central Gaza on Monday.

Al-Agha headed the terror group’s southern Gaza unit and was set to take over the organization after its leader, Asaad Abu Sharia, was killed in a strike earlier this month, according to the military.

“Al-Agha, along with other senior members of the terror group, led the abduction, murder, holding in captivity, and burial of Israeli civilians” during the October 7 onslaught, the military says.

The IDF adds that he was specifically responsible for the burial of Haggai and Weinstein, whose bodies were recovered from Al-Agha’s home in Khan Younis this month.

Al-Agha was also involved in “directing terror activity under Iranian guidance” in the West Bank and Israel, and recruiting terror operatives, as well as carrying out attacks on troops in Gaza.

This past week, amid the conflict with Iran, the IDF says it struck some 300 “terror targets” in Gaza, including operatives, buildings used by terror groups, weapon depots, and missile and sniper posts.

END

RUSSIA VS UKRAINE

Russia Launched Record Nearly 500 Drones In Overnight Attack On Ukraine

Monday, Jun 09, 2025 – 09:45 AM

In overnight attacks Russia launched a record 479 drones across Ukraine, with airstrikes reported in 10 locations, damaging buildings but surprisingly there were no immediate reports of deaths or mass casualties, with one person reported injured.

Ukrainian forces subsequently claimed to have intercepted 460 of the drones and 19 of 20 missiles. Western supplied anti-air defenses are still hard and work and remain effective in Ukraine, apparently.

The mayor of Rivne called it the oblast’s largest attack on a single night since the war began. Ukraine’s President Volodymyr Zelensky acknowledged in a late Sunday statement that in some of those areas “the situation is very difficult.”

Air raid sirens sounded for some ten hours in Kyiv oblast, local media reports, and further issued the following details:

According to the official statement, Russia launched 499 weapons, including 479 Shahed‑type attack drones and various decoy drones, four Kh‑47M2 “Kinzhal” air-launched ballistic missiles, 10 Kh‑101 cruise missiles, three Kh‑22 cruise missiles over the Black Sea, two Kh‑31P anti‑radar missiles, and one Kh‑35 cruise missile from occupied Crimea.

Ukraine had reportedly neutralized 479 of the incoming targets, with 292 were shot down, and 187 jammed or lost via electronic warfare.

On the other side, Ukraine also mounted a large-scale drone assault, again deep inside Russian territory, which resulted in direct hits and damage.

Ukraine forces said they struck a Russian electronics factory that produces drone components, causing a temporary shutdown.

The VNIIR plant, one of the nation’s largest producers of electronic components, is situated in southern Cheboksary, about 600 km east of Moscow and 1,000 km northeast of Ukraine’s border.

“This morning, Ukrainian attempts to use drones in Chuvashia were detected,” regional head Oleg Nikolayev stated on Telegram, saying also “There were no victims from the attack” and that the situation is “entirely under control”.

In all these latest factory strike, Kiev maintains it is hitting ‘military targets’ which are linked to the Russian army…

Yet it looks as if Ukraine struck yet another valuable target deep inside Russia, with questions remaining over the effectiveness for Russia’s anti-air defense systems, which were designed to track and intercept larger inbound projectiles such as missiles.

* * * 

Below are more developing geopolitical headlines via Newsquawk:

• Russian forces captured Zoria in Ukraine’s Donetsk region and reached the Dnipropetrovsk region in Ukraine, according to TASS and Interfax. However, it was later reported that Ukrainian General Staff spokesman Kovalev denied claims by the Russian Defence Ministry that its forces advanced into Ukraine’s eastern Dnipropetrovsk region for the first time since it launched its full-scale invasion.
• Head of the Russian delegation at talks with Ukraine in Istanbul said Russia handed over to Ukraine the first list of 640 POWs for exchange, according to TASS. Furthermore, the Russian Defence Ministry said Russia launched a large-scale humanitarian operation to repatriate more than 6,000 bodies of deceased Ukrainian military personnel and exchange prisoners of war, while Ukrainian officials rejected Russian claims that Ukraine was delaying the exchange of soldiers’ bodies.
• Ukrainian drone attack sparked a short-lived fire at the Azot chemical plant in Russia’s Tula region, although there was no threat to air quality near the plant, according to the regional governor.
• US believes Russian retaliation for Ukraine’s drone attack is not over yet and it expects a multi-pronged strike.
• Poland scrambled aircraft to ensure airspace security after Russia launches strikes on Ukraine.

Another dramatic video out of Cheboksary:

6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUES

JAPAN: THE MORE DOSES YOU TOOK, THE FASTER YOU DIE

Japan Releases Bombshell Vax vs. Unvax Data on 18 Million People

The data speaks for itself—and the 3 to 4 month spike is impossible to ignore.

The Vigilant Fox

Jun 17, 2025

A COVID vaccine database covering 18 million citizens has just been released for the first time.

After reviewing the data, a top professor warned: “The more doses you get, the sooner you’re likely to die.”

The most terrifying finding was a deadly spike just 3 to 4 months after the final shot.

Let’s break down the data.Subscribe

On June 15th, a group of brave Japanese truth seekers did what their government wouldn’t—they released a bombshell broadcast exposing vaccine data from over 18 million people.

Journalist Masako Ganaha posted on X: “If the government won’t do it, then the people should investigate the mass deaths of Japanese people! Database of 18 million vaccinated people revealed for the first time!”

The video featured Member of the House of Representatives Kazuhiro Haraguchi, Dr. Yasufumi Murakami, and the Information Disclosure Request Team.

Dr. Yasufumi Murakami isn’t just some fringe voice. He’s a respected professor at the Tokyo University of Science, where he serves as vice director at the Research Center for RNA Science.

He holds a Doctor of Pharmaceutical Science from the University of Tokyo and has authored over 100 scientific publications.

But when the data went public, things got deeply unsettling.

Pharma insider 

Aussie17

 shared a clip from the broadcast on X.

Dr. Murakami’s conclusion was blunt: “…the more doses you get, the sooner you’re likely to die, within a shorter period…”

The first graph compared death rates between vaccinated and unvaccinated groups.

According to Dr. Murakami, there was no noticeable spike in deaths among the unvaccinated. But among the vaccinated, a clear peak emerged—especially between 90 and 120 days after the shot.

“A significant peak forms at three or four months,” he said, pointing to the vaccine as the likely cause. “It’s probably due to the vaccine’s influence, with adverse reactions occurring leading to death.”

Then came a graph that was impossible to ignore. It showed a clear pattern: the more vaccine doses a person received, the sooner they died after their final shot.

The title translates to: “Number of days from final vaccination to death and number of deaths.”

The note on the right reads: “As the number of vaccine doses increases, the peak in deaths appears sooner.”

Each line represents people grouped by the final dose they received before death. In other words, those counted under the third dose curve had received three shots and died before receiving a fourth.

What stood out most was the steep green spike representing deaths after the third dose. Not only was it the highest, but it also appeared earlier, around 90 to 120 days.

The trend held across the board: as the number of doses increased, the peak of death consistently moved closer to the time of the last injection.

As Dr. Murakami noted, “We found that as the number of doses increases, the peak of deaths appears faster, meaning the more doses you get, the sooner you’re likely to die, within a shorter period. So, the risk increases with more doses.”

He added, “If the vaccine had no toxicity or didn’t induce death, there wouldn’t be a peak. That’s the point.”

“This is a key discovery,” he continued. “The more doses, the more the peak shifts, indicating that the toxicity accumulates. The toxicity overlaps, and the more doses you receive, the faster people die.”

While the data is truly alarming, it comes as no surprise to anyone who’s been paying attention. There’s simply no excuse for these shots to still be on the market.

Remember, the swine flu vaccine was pulled in 1976 after just 25 deaths and around 550 cases of Guillain-Barré syndrome—and that was with only a quarter of Americans vaccinated.

Ultimately, 53 deaths were linked to the program, and the government not only shut it down but also issued apologies and compensation to victims.

END

MARK CRISPIN MILLER

In memory of those who “died suddenly” in the United States and worldwide, June 9-16, 2025

Brian Wilson; actor David Hekili Kenui Bell (Lilo & Stich, 46); Real Housewives exec Lauren Miller; HGTV exec Loren Ruch; producer Terry Louise Fisher (L.A. Law); VJ Juliette Powell (54); & more

A survey of the likely global toll of COVID “vaccination,” based on the reports collected by our worldwide team of researchers this past week.

To help support our work, consider subscribing or making a donation.

UNITED STATES (88)

Beach Boys icon Brian Wilson dead at 82: Musician passes away after battle with dementia

June 11, 2025

Beach Boys founder Brian Wilson, one of the most acclaimed and influential songwriters of the 20^th century, has died aged 82. The God Only Knows hitmaker shot to fame as the frontman of the Beach Boys, for which he served as the principal songwriter as well as the co-lead vocalist. Last year, weeks after the death of his longtime wife Melinda, it emerged that he had been diagnosed with a neurocognitive disorder similar to dementia.

Researcher’s Note – Beach Boys Legend Brian Wilson Gets His Covid Jab: Link

No cause of death reported.

Link

Upgrade to paid

Wilson’s death was “not expected”:

Al Jardine Remembers Brian Wilson, and Their Last Meeting: ‘We Had a Good Laugh… I Thought He Was Going to Be With Us for Some Time’

[Beach Boys co-founder] Al Jardine says the death of Brian Wilson “was not expected” and that, when he last saw Wilson in May, he believed his fellow Beach Boy was recovering from some of the many health setbacks he’d suffered. Although resuming any substantial concert appearances was out of the question for Wilson after their last tour together came to an abrupt halt in 2022, Jardine had harbored a hope that, when he hits the road this summer, fronting Wilson’s longtime road band, there was a chance his friend of 65 years might be able to come up on stage. But the architect of the Beach Boys’ sound was reported on Wednesday to have died at age 82.

“I saw Brian about a month ago, and he looked like he was on the mend,” Jardine told Variety on Thursday. “We were in the living room just chatting, as he was having a blood oxygen test. He had a nurse there, and she said, ‘Well, things are looking good,’ so I was not too concerned. I thought he was going to be with us for some time. I was looking forward to him coming to the rehearsals in L.A. And I ordered a piano to be there for him” in case Wilson should be able to show up for a guest appearance and take his familiar seat behind the keyboard, regardless of whether he could perform. “So it’ll be an empty seat, I guess,” Jardine said.

Link

Wilson’s wife “died suddenly” last year:

Melinda Wilson, wife, manager and ‘savior’ of musician Brian Wilson, is dead at 77

January 31, 2024

Melinda Ledbetter Wilson, the longtime wife and manager of Brian Wilson whom the Beach Boys co-founder often credited for stabilizing his famously troubled life, has died at age 77. Wilson died Tuesday at the couple’s home in Beverly Hills, California, Brian Wilson announced online. Brian Wilson’s spokesperson Lauren Mele said Wednesday that she passed away “suddenly,” but no other details were available.

No cause of death reported.

Link

Lilo & Stitch Actor David Hekili Kenui Bell Dies at 46: ‘Was and Will Remain a Bright and Shining Star’

June 16, 2025

David Hekili Kenui Bell, who appeared in the live-action remake of Disney’s Lilo & Stitch, has died. He was 46. Hawai’i police later exclusively confirmed with People that Bell died on June 12 at 2:26 p.m. “We have launched a coroner’s inquest investigation (as is standard practice) and an autopsy is being scheduled to determine the exact cause of death,” a police spokesperson continued. “The investigation is ongoing at this time. No foul play is suspected.”

Link

Real Housewives Executive and Mother of 2 Dies Giving Birth to Newborn Son: ‘Impossible to Comprehend’

June 13, 2025

A Real Housewives of New York City and Salt Lake City executive died while giving birth to her son on Monday, June 9. Lauren Miller died moments after giving birth to her newborn son, Jackson, according to her employer, Shed Media’s Thursday, June 12, announcement. A GoFundMe page was created by her co-workers to help raise funds for her husband, Kevin, and their two children, Emma, 3, and Jackson, 5 days old, in the wake of her death. Following her passing, Jackson was placed in the NICU. He was discharged, as of a Thursday, June 12 update, and is now home with his dad and sister.

No age or cause of death reported.

Link

HGTV’s Loren Ruch Died From Pneumonia, Was Cancer-Free, Family Says

June 13, 2025

Loren Ruch, head of content for HGTV and cohost of “HGTV House Party,” died Thursday at Mount Sinai in NYC … and his family is clarifying exactly what happened to the beloved media personality. Dolly Norris, Loren’s mother, tells TMZ … the HGTV fixture was diagnosed with acute myeloid leukemia about a year ago, and treatment for the cancer left him with a weakened immune system. He was hospitalized a few months back for a bowel blockage – and he then caught pneumonia, which ultimately was his cause of death. Dolly tells us he was cancer-free. Loren’s passing is even more devastating for the family, as just a few weeks ago he seemed to be on the road to recovery … but, Dolly says, he took a turn for the worse and his health declined quickly – including a lung collapsing. Loren was 55.

Researcher’s Note – Ruch was working in Hollywood between 2021-2022: Hollywood’s On-Set Vaccine [sic] Mandates to End on May 12, 2023: Link

Link

Terry Louise Fisher, Co-Creator of ‘L.A. Law,’ Dies At 79

June 12, 2025

Terry Louise Fisher, a three-time Emmy winning writer and producer known for co-creating “L.A. Law,” died on Tuesday in Laguna Hills, Calif. She was 79. Her cousin, Sharone Rosen, reported that Fisher had died in her sleep from a long, undisclosed illness.

No cause of death reported.

Link

Former MuchMusic VJ Juliette Powell dies at 54

June 10, 2025

Former MuchMusic and MusiquePlus host Juliette Powell died last week. She was 54. The news was shared in an obituary, which said Powell, who spent much of her life living in Montreal and Toronto, died on June 3 from acute bacterial meningitis. After founding her own media and consulting company, Powell International Entertainment Inc., she became a prominent figure in the media world and much of her work focused on digital strategy and examining the ethics of new technologies. In 2021, she joined the faculty of New York University’s Interactive Telecommunications Program, teaching courses on media, technology and ethics.

Researcher’s Note – Requiring COVID-19 Vaccinations [sic] for All NYU Employees: Link

Link

Jonathan Mayers, Concert Promoter and Bonnaroo Co-Founder, Dies at 51

June 10, 2025

Jonathan Mayers, a concert promoter who co-founded the music festivals Bonnaroo and helped create Outside Lands as a principal at Superfly Entertainment, has died. He was 51. The cause of death is as yet unknown.

Link

‘Born to be a dad’: Star’s tribute to late husband who died of pancreatitis four months after their son’s birth

June 14, 2025

Mount Pleasant, South Carolina – It’s been five months since influencer Brielle Persun’s husband died suddenly of complications associated with pancreatitis, just four months after she gave birth to their baby. Brielle came to public attention on ‘Bookstagram’ in 2020, and she quickly begain gaining followers for her literary-based content, including reviews and title recommendations. She now has more than 20,000 followers. Aside from her love of books, Brielle also shared her love for her husband Tyler [35] and their newborn baby son Colby with her fans. She had met her future spouse shortly after joining Bookstagram, and they soon went on to get engaged and married in 2023. Colby, who was named after his dad’s mum’s maiden name, was born in August 2024.

Link

DR PAUL ALEXANDER

NEWS ADDICTS

LATEST REPORTS FOR NEWS JUNKIES

Trump Privately Approves US Military Action on Iran, WSJ ReportsPresident Donald Trump has approved military plans for potential U.S. strikes on Iran but is holding off on giving the final order to see if Tehran will abandon its nuclear program, according to the Wall Street Journal.Trump is reportedly hoping that the threat of joining Israel’s military campaign will pressure Iran into making concessions on its nuclear program, the Wall …READ THE FULL REPORT

Iranian Government Plane Lands in OmanAn Iranian government plane reportedly landed in Oman on Wednesday.This is where the US and Oman officials were holding their nuclear talks.This is a very distinct sign that Iranian officials are worried and that they are backed into a corner. Big Breaking Iranian government plane just landed in Oman, where the talks with the US were previously held.is Khamenei going …READ THE FULL REPORT

Watch: Ted Cruz Snaps After Tucker Carlson Asks Him a Simple Iran QuestionFireworks erupted during an interview involving two of the most prominent leaders in the conservative movement as the split on U.S. involvement in Iran grows.On Tuesday, Senator Ted Cruz (R-TX) sat down with former Fox News host Tucker Carlson for an exclusive interview which quickly became heated. The topic centered around what actions, if any, the U.S. should take to …READ THE FULL REPORT

Japan Releases Vax vs. Unvax Data on 18 Million PeopleA COVID vaccine database covering 18 million citizens has just been released for the first time.After reviewing the data, a top professor warned: “The more doses you get, the sooner you’re likely to die.”The most terrifying finding was a deadly spike just 3 to 4 months after the final shot.Let’s break down the data.On June 15th, a group of brave …READ THE FULL REPORT

Watch: Fox News Guest ‘Kicked Off’ Show After Appearing IntoxicatedA U.S. intelligence expert was cut short in her interview on Fox News after appearing intoxicated on live TV, a debacle for the news network that has since gone viral.Correspondents asked Rebekah Koffler, a Russian-born author and former CIA operative, to respond to criticism of President Donald Trump’s military parade through Washington, D.C. on Saturday. What should have been a …READ THE FULL REPORT

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MIKE EVERY/OR PICTON OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS

7.OIL AND NATURAL GAS//GLOBAL/ENERGY/

IAEA Chief Warns UN Security Council That Strike On Iran’s Bushehr Plant Would Create Nuclear Disaster

Friday, Jun 20, 2025 – 11:18 AM

Update(1118ET): The head of the UN nuclear watchdog IAEA, Rafael Mariano Grossi, has issued fresh remarks before the Security Council on Friday, warning that Israeli strikes on Iran’s Bushehr nuclear power plant is where the consequences of an attack could be most serious. The active and operating nuclear power plant currently hosts thousands of kilograms of nuclear material. He warns of potential nuclear disaster:

“Countries of the region have reached out directly to me over the past few hours to express their concerns, and I want to make it absolutely and completely clear — in case of an attack on the Bushehr nuclear power plant, a direct hit would result in a very high release of radioactivity,” Grossi tells the UN Security Council.

More highlights from Grossi’s UN address via Al Jazeera:

• Countries of the region have reached out directly to me over the past few hours to express their concerns, and I want to make it absolutely and completely clear that, in case of an attack on the Bushehr nuclear power plant, a direct hit would result in a very high release of radioactivity to the environment.
• Similarly, a hit that disables the only two lines supplying electrical power to the plant could cause its reactor core to melt, which could result in a high release of radioactivity to the environment.
• In their worst case, both scenarios would necessitate protective actions, such as evacuations and sheltering of the population, or the need to take stable iodine with a reach extending to distances from a few to several hundred kilometres. Radiation monitoring would need to cover distances of several hundred kilometres, and food restrictions may need to be implemented.
• Any action against the Tehran nuclear research reactor could also have severe consequences, potentially for large areas of the city of Tehran and its inhabitants.
• Armed attack on nuclear facilities should never take place and could result in radioactive releases with great consequences within and beyond the boundaries of the state which has been attacked. I, therefore, again call for maximum restraint.

Oil facilities are still getting hit by Israeli warplanes into Friday:

A series of headlines, some contradictory, on where things stand with Iran nuclear negotiations with the US, sent oil sliding, then pumping, then extending losses again.

One senior Iranian official told Reuters that Iran is ‘ready’ to discuss limitations on its uranium enrichment, while a quick follow-up headline said “zero enrichment will undoubtedly be rejected” by Iran “especially now, under Israel’s strikes.”

The official said “the role of European powers is now more prominent, as Tehran is unwilling to engage with US amid Israeli attacks. After that glimmer of hope offered for negotiations, the clarification that nothing has in fact change, sent oil dropping further Friday morning.

Oil prices declined on Friday but stayed on track for a third straight weekly increase, following the White House’s postponement of a decision regarding US participation in the Israel-Iran conflict:

Brent crude futures were down $2.57, or around 3.3%, to $76.28 a barrel by 1204 GMT but still set to gain nearly 3% on the week.

According to the latest from Bloomberg:

Israel will complete the task of preventing Iran from gaining nuclear weapons whether or not the US joins the operation, its energy minister said. Iranian President Masoud Pezeshkian said the only way to end the war is to “unconditionally” stop Israel.

And Foreign Minister Abbas Araghchi has clarified just before meeting European officials in Geneva related to EU efforts at mediate that “Iran is not prepared for negotiations with anyone while Israel continues its attacks.”

More Friday and overnight headlines…

* * *

Geopolitics: Middle East War

• Israel will complete the task of preventing Iran from gaining nuclear weapons whether or not the US joins the operation, its energy minister said. Iranian President Masoud Pezeshkian said the only way to end the war is to “unconditionally” stop Israel, according to Bloomberg
• E3/EU-Iran meeting in Geneva expected to occur “this afternoon”, via WSJ’s Norman.
• Israeli Defence Minister Katz has ordered the military to increase attacks on Iranian regime targets within Tehran.
• Iran’s Foreign Minister says they will only hold nuclear talks in the E3 meeting.
• Russia’s Kremlin says dialogue with Ukraine continues expect to agree next week on a date for the next round of talks Ukraine is unpredictable, continue “special military operation”, though would prefer to reach goals by diplomatic needs.

US Involvement

• The White House said, “message directly from the President – based on the fact that there is a significant chance of negotiations with Iran in the near future – I will make a decision on whether to launch [an attack] in the next two weeks.”
• US President Trump had been briefed on both the risks and benefits of bombing Fordow and his mindset was that disabling it was necessary due to the risk of weapons being produced in a relatively short period of time, according to CBS.
• Broadcasting Authority, citing an Israeli source, reported that the US had asked Israel to defer its attack on the Fordow nuclear facility.
• Kann News reported that there was a “possible attack at Fordow”: according to sources, the US had asked Israel to wait until negotiations with Iran had been exhausted.
• US President Trump is to attend a National Security Meeting at 11:00 EDT on Friday.
• US law enforcement officials had stepped up surveillance of Iran-backed operatives in the US, according to CBS sources.
• The White House said Iran was able to produce a nuclear bomb within “a couple of weeks”.
• A White House official told Fox’s Heinrich that the US military had no doubt about the efficacy of bunker busters in eliminating the site at Fordow, and also denied that any options—including tactical nuclear weapons—had been taken off the table.
• The White House Press Secretary said there were no signs that China was getting involved militarily in Iran, according to Reuters.
• The US reportedly believed Iran would build a nuclear bomb if Supreme Leader Khamenei were assassinated and the Fordow facility was attacked, according to The New York Times.

Strikes

• There were reports of Israeli strikes in the Lavizan area of Tehran, where Iranian Supreme Leader Khamenei was reportedly hiding in a bunker, according to i24 journalist Stein.
• An Israeli military spokesman said Israel had attacked the special forces headquarters of the internal security apparatus in Tehran within the last 24 hours, according to Reuters.
• Journalist Horowitz said on X that opposition sources were circulating “unconfirmed” reports claiming that the head of Iran’s military, Abdolrahim Mousavi, had been killed in an Israeli strike.
• The Fars News Agency said Iran had used a new generation of precision missiles in its attack on Israel on Thursday morning, according to Fars.
• The Norwegian Foreign Ministry said an explosion had occurred on Thursday evening in Tel Aviv at the residence of the Norwegian ambassador to Israel, according to Reuters.
• The Jordanian army said an explosives-laden drone had fallen in the Azraq area after it “fell short of its range,” according to Al Hadath.
• Iranian media reported that air defences were activated in Isfahan, according to Al Arabiya.

Diplomacy

• Britain, France, and Germany are to hold talks with Iran’s Foreign Minister on Friday in a last-ditch effort to avert an escalation of conflict in the Middle East and a possible US intervention, according to FT.
• Iran’s Foreign Minister had reached out to European foreign ministers, requesting a meeting with them on Friday, Jerusalem Post reported.
• Trump administration officials are pitching the president’s two-week timeline as an opportunity to allow diplomacy to play out. Special Envoy Witkoff and Iran’s Foreign Minister Araghchi had been in communication in recent days, though there were no plans for the two to meet yet, according to ABC.
• Trump’s special envoy to the Middle East Witkoff will not attend the UK/France/Germany talks with Iran in Geneva on Friday, according to White House officials cited by NBC.
• An Iranian source denied reports of a phone call between Iranian Foreign Minister Araghchi and US presidential envoy Witkoff following Israel’s aggression, according to Iran Nuances.
• The White House Press Secretary said they would see how the EU meeting with the Iranians went tomorrow, according to Reuters.
• US officials said no date had been set for a meeting between US and Iranian officials yet, according to Axios.

US Military and Deployment

• Over the next 10 to 14 days, there were expected to be two aircraft carriers in the Middle East and a third operating in the Mediterranean Sea, according to ABC.

Iranian Actions

• A senior IRGC official said that before the Israeli airstrikes, all enriched uranium had been transferred from the nuclear sites to secret hiding locations, according to i24 journalist Stein.
• Iran’s Tasnim News Agency, quoting an Iranian official, said intelligence had thwarted a major Israeli plot against Iranian Foreign Minister Araqchi in Tehran, according to Sky News Arabia.
• Iraq’s Hezbollah threatened to target US bases and close the Strait of Hormuz if Washington joined strikes on Iran, according to Al Hadath.
• An Israeli official said Iran could likely sustain the current rate of missile fire at Israel for up to five months, provided their missile launchers were not destroyed, according to NBC.
• Israel anticipated attacks from Iran’s proxies across the Middle East, according to Israel Channel 14.
• An Israeli intelligence official said the imminent collapse of the Iranian regime was far from the truth, according to NBC.

Geopolitics: Other

• A Japanese destroyer sailed through the Taiwan Strait after a Chinese jet approached it, according to Nikkei.
• China President Xi met with New Zealand PM Luxon in Beijing, according to CCTV.

end

​​​​​​​Strait Of Hormuz Tanker Collision Caused 10 Square-Kilometer Oil Spi

Wednesday, Jun 18, 2025 – 03:45 PM

Two crude oil tankers collided and caught fire near the Strait of Hormuz energy chokepoint, triggering immediate concern across global energy and shipping markets. Iranian naval assets were observed approaching the incident area shortly after the collision, raising the risk of interference. The incident now risks quickly evolving into an ecological disaster. 

Bloomberg cites the Pakistan Navy’s new maritime navigation warning issued for the Gulf of Oman around the incident area where Front Eagle, a 1,100-foot supertanker, collided with tanker Adalynn early Tuesday off the coast of the United Arab Emirates, includes the warning of an oil spill covering 10 square kilometers (equivalent to about 2,471.05 acres or the size of a small city). 

The plain English navigation warning reads:

Region:

• Gulf of Oman – NAVAREA IX, which covers the northwest Indian Ocean region, including the Persian Gulf and Arabian Sea.
• Charts Referenced: British Admiralty nautical charts BA 2837, 2858, and 3520—used for precise navigation.

Incident:

A collision between two vessels was reported at position Latitude: 25°21.38’N & Longitude: 056°51.62’E (This location is just southeast of the Strait of Hormuz, in the Gulf of Oman).

Environmental Impact:

A visible oil spill covering 10 square kilometers has been observed at the site.

Satellite imagery from a day ago via Tanker Trackers showed Adalynn ablaze and adrift while noting that maritime diesel had leaked from at least one of the vessels. 

Here’s footage of Adalynn on fire (view more). 

Latest from Strait of Hormuz:

• Strait of Hormuz Disruption Fears Surge After Former Iranian Minister Threatens Transit Restrictions

A significant ecological disaster could be developing near the critical maritime chokepoint. The extent of the spill remains unconfirmed; however, preliminary maritime alerts indicate a surface oil patch has been detected. Satellite imagery—expected in the near term—will be critical in assessing the true scale of the spill. 

END

Supply Fears Send EU Diesel Prices Soaring As Bloc Exposed To Strait Of Hormuz Risks

Friday, Jun 20, 2025 – 02:45 AM

European diesel prices rallied for a fifth straight session, driven by mounting anxiety that critical Middle East shipping lanes could be choked off. The conflict between Israel and Iran has raised alarm bells across the EU, which has become increasingly dependent on fuel shipments transiting the Strait of Hormuz since losing access to Russian supplies. 

“Supply-security fears are driving the surge in European diesel prices,” Eugene Lindell, head of refined products at energy consultancy FGE NexantECA, told Bloomberg. “Many importers are rushing to restock now, in case a prolonged disruption occurs due to a potential blockade of the Strait of Hormuz,” he added.

Here are the key points of strength in the European diesel market because of Hormuz blockade fears:

• Diesel’s premium to crude jumped above $25 a barrel, highest since March 2024.

• Backwardation widened sharply, with July diesel now $21.25/ton above August, and December 2024 trading $45.25/ton above December 2025 — up from just $0.50 on June 9.
• Traders rushed to unwind bearish bets, closing out over 100,000 gasoil futures contracts, the most in any 4 days since 2021.

According to Bloomberg estimates, Europe imported approximately 850,000 barrels a day of diesel last year through the Strait of Hormuz. This critical maritime chokepoint leaves Europe highly vulnerable to regional instability and potential supply disruptions.

Europe has become more susceptible to disruptions in the Strait of Hormuz due to a combination of increased structural dependency, limited local refining capacity, and a post-Russia supply realignment:

• Europe banned Russian diesel imports following the Ukraine invasion, cutting off its largest and most reliable supplier.
• As a result, Europe pivoted heavily to the Middle East, especially the UAE and Saudi Arabia, to fill the gap—much of that supply transits Hormuz.

Nice work, Brussels. The Strait of Hormuz stands as a massive single point of failure—any disruption in this critical chokepoint risks triggering a shockwave across European energy markets. Fresh data shows vessel traffic through the strait is already slowing (read more here). 

8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUE

INDIA

YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS THURSDAY MORNING 6;30AM//OPENING AND CLOSING

EURO/USA: 1.1472 DOWN 0.0004 PTS OR 4 BASIS POINTS

USA/ YEN 145.33 UP 0.371 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN  STILL FALLS//END OF YEN CARRY TRADE BEGINS AGAIN OCT 2024/Bank of Japan raises rates by .15% to 1.15..UEDA ENDS HIKING RATES AND NOW CARRY TRADES RE INVENTS ITSELF//

GBP/USA 1.3414 UP .0002 OR 2 BASIS PTS

USA/CAN DOLLAR:  1.3713 UP 0.0017 (CDN DOLLAR DOWN 17 BASIS PTS)

 Last night Shanghai COMPOSITE DOWN 26.70 PTS OR 0.79%

 Hang Seng CLOSED DOWN 483.19 PTS OR 2.04%

AUSTRALIA CLOSED DOWN .19%

 // EUROPEAN BOURSE:    ALL RED

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL RED

2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 483.19 PTS OR 2.04%

/SHANGHAI CLOSED DOWN 26.70 PTS OR 0.79%

AUSTRALIA BOURSE CLOSED DOWN 0.19 %

(Nikkei (Japan) CLOSED UP 396.81 PTS OR 1.02%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 3355.30

silver:$36.30

USA dollar index early THURSDAY  morning: 98.54 UP 8 BASIS POINTS FROM WEDNESDAY’s CLOSE

.THURSDAY  MORNING NUMBERS ENDS

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YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS FRIDAY MORNING 6;30AM//OPENING AND CLOSING

EURO/USA: 1.1511 UP 0.0005 PTS OR 5 BASIS POINTS

USA/ YEN 145.47 UP 0.254 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN  STILL FALLS//END OF YEN CARRY TRADE BEGINS AGAIN OCT 2024/Bank of Japan raises rates by .15% to 1.15..UEDA ENDS HIKING RATES AND NOW CARRY TRADES RE INVENTS ITSELF//

GBP/USA 1.3495 UP .0019 OR 19 BASIS PTS

USA/CAN DOLLAR:  1.3705 UP 0.0010 (CDN DOLLAR DOWN 10 BASIS PTS)

 Last night Shanghai COMPOSITE DOWN 2.11 PTS OR 0.07%

 Hang Seng CLOSED DOWN 483.19 PTS OR 2.04%

AUSTRALIA CLOSED DOWN .20%

 // EUROPEAN BOURSE:    ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 292.74 PTS OR 1.26%

/SHANGHAI CLOSED DOWN 2.11 PTS OR 0.07%

AUSTRALIA BOURSE CLOSED DOWN 0.20 %

(Nikkei (Japan) CLOSED DOWN 85.11 PTS OR 0.22%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 3355.11

silver:$36.06

USA dollar index early FRIDAY  morning: 98.26 DOWN 21 BASIS POINTS FROM THURSDAY’s CLOSE

FRIDAY  MORNING NUMBERS ENDS

And now your closing FRIDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 3.033% DOWN 0 in basis point(s) yield

JAPANESE BOND YIELD: +1.408% DOWN 2 FULL POINTS AND 0/100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.216 DOWN 0 in basis points yield

ITALIAN 10 YR BOND YIELD 3.526 UP 2 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.5266 UP 1 BASIS PTS

IMPORTANT CURRENCY CLOSES :  MID DAY FRIDAY

Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM

Euro/USA 1.1515 UP 0.0005 OR 5 basis points

USA/Japan: 145.76 UP 0.529 OR YEN IS DOWN 53 BASIS PTS//

Great Britain 10 YR RATE 4.5360 UP 2 BASIS POINTS //

Canadian dollar DOWN .0032 OR 32 BASIS pts  to 1.3725

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The USA/Yuan CNY UP AT 7.1750,  CNY ON SHORE ..

THE USA/YUAN OFFSHORE UP TO 7.1755

TURKISH LIRA:  39.68 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//

the 10 yr Japanese bond yield  at +1.408

Your closing 10 yr US bond yield UP 3 in basis points from WEDNESDAY at  4.424% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.930 UP 3 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.942 UP 1 BASIS PTS.

GOLD AT 11;00 AM 3368.60

SILVER AT 11;00: 35.98

Your  11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: FRIDAY CLOSING TIME 11:00 AM//

London: CLOSED DOWN 17,15 PTS OR 0.20%

GERMAN DAX: UP 239.17 pts or 1.27%

FRANCE: CLOSED UP 36.21 pts or 0.48%

Spain IBEX CLOSED UP 105.40pts or 0.77%

Italian MIB: CLOSED UP 289.20 or 0.74%

WTI Oil price  74.63 11 EST/

Brent Oil:  76.36 11:00 EST

USA /RUSSIAN ROUBLE ///   AT:  78.45 ROUBLE DOWN 0 AND  7/ 100      

CDN 10 YEAR RATE: 3.329 DOWN 3 BASIS PTS.

CDN 5 YEAR RATE: 2.919 DOWN 3 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA 1.1530 UP 0.0019 OR 19 BASIS POINTS//

British Pound: 1.3464 DOWN .0012 OR 12 basis pts/

BRITISH 10 YR GILT BOND YIELD:  4.5240 UP 2 FULL BASIS PTS//

JAPAN 10 YR YIELD: 1.393 DOWN 5 FULL BASIS PTS

USA dollar vs Japanese Yen: 145.98 UP 0.758 BASIS PTS

USA dollar vs Canadian dollar: 1.3728 UP 0.0033 BASIS PTS CDN DOLLAR DOWN 33 BASIS PTS

West Texas intermediate oil: 75.00

Brent OIL:  77.11

USA 10 yr bond yield DOWN 2 BASIS pts to 4.376

USA 30 yr bond yield DOWN 1 PTS to 4.892%

USA 2 YR BOND: DOWN 4 PTS AT  3.908%

CDN 10 YR RATE 3.304 DOWN 3 BASIS PTS

CDN 5 YEAR RATE: 2.893 DOWN 4 BASIS PTS

USA dollar index: 98.28 DOWN 19 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 39.68 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  77.50 UP 0 AND 15/100 roubles

GOLD  $3369.70 (3:30 PM)

SILVER: 36.07 (3:30 PM)

DOW JONES INDUSTRIAL AVERAGE: UP 35.15 OR 0.083%

NASDAQ 100 DOWN 89.27 PTS OR 0.41%

VOLATILITY INDEX: 20.87 DOWN 1.30 PTS OR 5.86%

GLD: $ 310.13 DOWN 0.13 PTS OR 0.043%

SLV/ $32.72 DOWN .55 PTS OR OR 1.65%

TORONTO STOCK INDEX// TSX INDEX: CLOSED DOWN 31.74 OR 0.12%

end

TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING

Dollar’s Best Week In 4 Months, Bonds Bid As LEIs Trigger ‘Recession’ Signal; Uncertainty Drops

Friday, Jun 20, 2025 – 08:00 PM

US stocks are little changed for the week as investors have been digesting ongoing Middle East risks (and a drift higher in oil prices), a mixed batch of hard and soft mid-month data, a Fed that appears comfortable with monetary policy, and a US fiscal future that appears to involve a whole lot of debt.

After weeks of holding up, this week saw US macro data turn down significantly…

Source: Bloomberg

…as ‘hard’ data finally snapped…

Source: Bloomberg

Made worse today by LEI’s ongoing downturn

“The LEI for the US fell again in May, but only marginally,” said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board. 

“The recovery of stock prices after the April drop was the main positive contributor to the Index.  However, consumers’ pessimism, persistently weak new orders in manufacturing, a second consecutive month of rising initial claims for unemployment insurance, and a decline in housing permits weighed on the Index, leading to May’s overall decline. With the substantial negatively revised drop in April and the further downtick in May, the six-month growth rate of the Index has become more negative, triggering the recession signal…”

At the same time, amid Washington chaos agents sparking headline roulette with both trade policy headlines (some deals, some delays), monetary policy division (Waller vs Powell), and geopolitical crises (WW3-On/WW3-Off), this week saw both our proxies for global macro uncertainty and geopolitical uncertainty drop (while equity and bond risk expectations lifted)…

Source: Bloomberg

Fed’s Waller’s dovish (“We could do this as early as July” …job interview? “I think we’ve got room to bring it down, and then we can kind of see what happens with inflation”) comments prompted a bid for short-term bonds, steepening the curve as stocks actually fell despite his hope for a July rate cut (Fed’s Barkin plaed the hawk cop to Waller’s dove cop – “I don’t think the data gives us any rush to cut...I am very conscious that we’ve not been at our inflation target for four years”).

Stocks legged down at the cash open and then again on this: *US PREPARES ACTION TARGETING ALLIES’ CHIP PLANTS IN CHINA: WSJ – back to unchanged on the week. Small Caps outperformed, managing very small gains on the week…

AI stocks supported the market again this week…having outperformed non-stop since the tariff pause…

Source: Bloomberg

…managing to get back to even from the DeepSeek damage…

Source: Bloomberg

But, today brought some pain for the MegaCaps, dragging them into the red for the week…

Source: Bloomberg

Bloomberg’s Michael Ball notes that the “TACO trade” continues to suppress equity volatility.

US President Donald Trump’s pattern of escalating trade rhetoric followed by last-minute de-escalation worked in May when EU and China tariff decisions were reversed, and it appears to be damping the market reaction to the Israel-Iran conflict, as well. Volatility has remained contained even as headlines out of the Middle East keep uncertainty high, suggesting traders expect another political walk-back. That reduction in risk premium and a more normal VIX level is incentivizing selling of short-dated vol. 

Source: Bloomberg

A whippy week for Treasuries with yields ending lower, led by the short-end…

Source: Bloomberg

The yield curve steepened modestly on the week…

Source: Bloomberg

Despite the hawkish fed (dots and commentary from Powell), rate cut expectations rose modestly on the week…

Source: Bloomberg

The widespread dollar bearishness since President Trump’s reciprocal tariffs in early April may have finally run its course, at least in the near term as options traders flip bullish. This was the best week for the dollar index in four months

Source: Bloomberg

One-month risk reversals on the measure climbed into positive territory for the first time in two-and-a-half months, a sign that options traders expect slight dollar appreciation over the coming month…

Source: Bloomberg

Is this the start of the pain trade that Michael Hartnett has been warning about? 

The Dollar’s gain was gold’s loss…

Source: Bloomberg

Crypto had a tough week ending with some more serious selling pressure today, dragging Bitcoin back to a $102k handle…

Source: Bloomberg

…breaking back below its 50DMA…

Source: Bloomberg

Oil prices rose for the 3rd week in a row testing YTD highs…

Source: Bloomberg

Platinum rose for the 3rd week in a row, taking out the Feb 2021 highs to its highest since Sept 2014…

Source: Bloomberg

Finally, the S&P is back to breakeven with Trump Tariffs 1.0 performance…

Source: Bloomberg

…the question is, will the end of the ‘pause’ prompt another downturn disappointment.

BIG MORNING NEWS

Futures Rise Ahead Of Record $5.9 Trillion Triple-Witching OpEx

Friday, Jun 20, 2025 – 08:27 AM

US equity futures are higher with small caps leading after the White House appeared to dial back speculation that Washington was on the verge of joining Israel’s strikes on Iran, while Reuters reported that Iran is ready to discuss limitations on its Uranium enrichment (if not going anywhere near close to what the US/Israel bid is for complete enrichment halt). As of 8:00am, S&P futures rose 0.2% and traded at session highs, while Nasdaq 100 futures gained 0.3% with Mag 7 stocks mixed and TSLA (+1.4%) outperforming. The big highlight today is a record (for June) $5.9 trillion option expiration which will see dealer gamma tumble and “unclench”, allow the market to move much more freely. Bond yields are 2-3bp higher while the USD is lower even as the USDJPY approaches a 1 month high. Commodities are lower: oil drops on renewed hopes for Iran deescalation; aluminum and precious metals are also down. Headline focus continues to be on Middle-East tensions after Trump disclosed he will decide within two weeks whether to strike Iran. Elsewhere, Japan in focus with hotter inflation data overnight (driven by continued surge in rice prices) and reports of larger-than-expected planned cutback to superlong JGB issuance. WTI reached $77 briefly on Thursday before coming down to $73 this morning. It’s a quiet end to the week: US economic data slate includes June Philadelphia Fed business outlook (8:30am) and May Leading Index (10am). No Fed speakers are scheduled. 

In premarket trading, Magnificent Seven stocks rebound alongside index futures but are mixed with TSLA outperforming (Tesla +1.3%, Amazon -0.1%, Meta Platforms -0.1%, Apple -0.3%, Microsoft -0.3%, Alphabet -0.4%, Nvidia -0.5%). 

• Accenture shares (ACN) are down 3.9% in premarket trading, after the IT services company reported its third-quarter results and gave an outlook.
• Capricor Therapeutics shares (CAPR) fell 4.4% in premarket trading after Nicole Verdun, super office director at Center for Biologics Evaluation and Research, was placed on administrative leave.
• Circle Internet Group shares (CRCL) are set to extend gains, rising 11% in premarket trading. The stablecoin issuer rallied almost 34% on Wednesday after the US Senate passed stablecoin legislation setting up regulatory rules for crypto currencies pegged to the dollar.
• GMS shares (GMS) rise 28% in premarket trading on Friday after the Wall Street Journal reported that Home Depot has made an offer for the building materials firm, potentially setting off a bidding war with QXO which made a $5 billion offer earlier in the week.
• Johnson Controls International Plc shares (JCI) fell 1% in premarket trading after Oppenheimer cut its recommendation on the building products company to perform from outperform.
• Mondelez (MDLZ) advances 0.5% in premarket trading following an upgrade to overweight at Wells Fargo, which sees its bull case for the Oreo-cookies maker becoming “more tangible.”
• Tesla (TSLA) is outperforming fellow Magnificent Seven stocks in premarket trading on Friday, rising 1.7%.

While markets remains focused on geopolitics, the big event for markets today is today’s $5.9 trillion option expiration, including $4.0 trillion of SPX options and $925 billion notional of single stock options. This options expiration will be the largest June expiration on record…

Going back to geopolitics, sentiment was boosted after the White House said on Thursday that Trump would decide within two weeks whether to attack Iran, and there was still a “substantial chance” of a negotiated settlement.  Israel, meanwhile, struck more of Iran’s nuclear sites and warned it could bring down Tehran’s leadership as both sides awaited the US president’s decision. Iran maintained Friday it won’t negotiate with the US while Israel’s assault continues. With the weekend in sight, traders appear to be staying on the sidelines, unsure about the trajectory of the conflict. 

“One must of course be aware of the potential for significant gapping risk at the Sunday night open, depending on how geopolitical tensions evolve over the weekend,” said Michael Brown, senior research strategist at Pepperstone Group Ltd. “Some trimming of risk, and squaring of positions, seems likely as today goes on.”

Some extreme scenarios resulting from increased US involvement in the Israel-Iran war could push oil prices as high as $130 to $150 a barrel, particularly if Iran retaliates in a major way, said Jennifer McKeown, chief global economist at Capital Economics Ltd. Such a development would pause further policy easing by central banks, she said. Brent futures have been pricing in a geopolitical premium of about $8 a barrel since Israel and Iran began attacking each other last week, according to a survey of analysts and traders. US intervention in the conflict would bolster that further, but exactly how much would depend on the nature of the involvement, the nine respondents said.

“The recent air strikes pose risks to the new energy market landscape; however, further fallout for global energy prices seems, for now at least, limited,” said Kieran Calder, head of Asia equity research at Union Bancaire Privee in Singapore. “Markets tend not to price in geopolitical risks until there is a conflagration, and they are currently showing little sign of factoring in a worst-case outcome.”

Markets were rattled earlier in the week after the Fed downgraded its estimates for growth this year and projected higher inflation. “Even though central banks would like to think that would be a temporary impact, I think it would be a brave central bank that would cut interest rates,” McKeown said on Bloomberg TV.

European stocks also rose as the White House downplays the likelihood of imminent US military action against Iran. The Stoxx 600 snapped a three-day losing streak, up 0.5%. Travel, banks and tech outperform as almost all sectors climb, barring energy. Among individual movers in Europe, TUI AG gained the most in two months after Barclays Plc double-upgraded the stock, citing robust demand for packaged travel. Berkeley Group Holdings Plc slumped after the homebuilder announced management changes and cited persistent regulatory headwinds as it reported earnings. Here are some of the more notable European movers

USA DATA RELEASES

Inflation Expectations Tumble As Latest NY Fed Survey Suggests Fed Late To Cut

Monday, Jun 09, 2025 – 11:42 AM

For the first time since 2024, inflation expectations tracked by the NY Fed survey of Consumer Expectations dropped across all three horizons in May.

One-year-ahead inflation expectations declined by 0.4% to 3.2%, three-year-ahead inflation expectations declined by 0.2% to 3.0%, and five-year-ahead inflation expectations declined by 0.1% to 2.6%.

The declines in median one- and three-year-ahead inflation expectations were broad-based across age, education, and income groups, so there is nothing the Marxists at UMich can say to mitigate what is clearly a renormalization of the previous ridiculous expectations for imminent hyperinflation due to tariffs which, as we have said all along, destroy demand and lead to lower prices in the long run (something which even Goldman now agrees with). Median inflation uncertainty (the uncertainty expressed regarding future inflation outcomes) also declined at the one-year horizon and was unchanged at the three- and five-year horizons.

The latest NY Fed inflation expectations are falling in line with other household-based surveys pointing to a rebound in sentiment in the wake of the announcement, even if the laughable UMichigan survey of a few confused Democrats by a few confused Marxists, still shows 1 Year inflation expectations at a record high 6.6%!

Since the beginning of the year consumers have been bracing for higher prices, even though there has so far been zero evidence prices are in fact rising; instead many business continue to internalize the price increases while Chinese suppliers have also been asked to share the pain. 

There was more good news on the inflation front: first, the survey found that median home price growth expectations decreased by 0.3% point to 3.0%. This series has been moving in a narrow range between 3.0% and 3.3% since August 2023. The decline was driven by respondents in the West and South census regions.

Also, the median year-ahead commodity price change expectations decreased by 0.8 percentage point for gas to 2.7%, 1.3 percentage points for the cost of medical care to 7.4%, 1.6 percentage points for the cost of college education to 7.5%, and 0.6 percentage point for rent to 8.4%. The only place where price expectations increased was in year-ahead food prices which increased by 0.4 percentage point to 5.5%, the highest level since October 2023.

Fed officials are closely following consumer estimates of price pressures to assess whether tariffs could lead to a persistent inflation spike. The broad-based improvements in inflation expectations suggest that the Fed is that much closer to cutting rates, confirming that once again Trump will have been correct in urging “too late Powell” to cut. 

It wasn’t just inflation expectations that improved: Americans’ views about their job prospects also improved slightly in May. The perceived probability of losing one’s job in the next year dropped 0.5%, while respondents’ likelihood of quitting voluntarily ticked up. The mean expectation that the unemployment rate will be higher one year from now decreased 3.3% to 40.8%. 

But wait, there was even more good news (ahead of the idiotic UMich report later this week): Households’ perceptions of their own finances also improved, with the share of respondents saying they will be worse off in a year declining slightly.

A smaller share of participants reported that it was harder to access credit although the average perceived probability of missing a minimum payment in the next three months dropped to the lowest since January. Also, a smaller percentage of consumers, 13.45% vs 13.94% in prior month, expect to not be able to make minimum debt payments over the next three months, the lowest level since January 2025. The decrease was driven by those with more than a high school diploma and those with household incomes over $50,000.

Some more details from the report:

• The median expected growth in household income increased by 0.1% point to 2.7% in May, while remaining well below the trailing 12-month average of 3.0%.
• Median nominal household spending growth expectations declined by 0.2% point to 5.0%, remaining just above the trailing 12-month average of 4.9%.
• Perceptions of credit access compared to a year ago improved, with a smaller share of households reporting it is harder to get credit, and a larger share reporting it is easier. Conversely, expectations for future credit availability deteriorated, with the share of respondents expecting it will be easier to obtain credit a year from now decreasing to 10.6% from 12.1%.
• The median expectation regarding a year-ahead change in taxes at current income level was unchanged at 3.3%.
• Median year-ahead expected growth in government debt increased by 0.6 percentage point to 5.4%.
• The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months decreased by 1.1 percentage points to 25.4%.

Finally, the mean perceived probability that the US stock market will be higher 12 months from now increased. 

Average perceived probability of missing a minimum debt payment over the next three months decreased by 0.5 percentage point to 13.4%, the lowest level since January 2025.

USA ECONOMIC NEWS

Mutiny on the bounty?

Waller Puts In Bid For Next Fed Chair, Says Powell Should Cut “As Early As July”

Friday, Jun 20, 2025 – 09:26 AM

With tensions between Trump and Powell running at Israel-Iran levels, moments ago Fed Governor Christopher Waller put in a bid to become the next Fed (shadow) chair, and said the central bank can lower interest rates as soon as next month.

“We could do this as early as July,” Waller said in an interview with Steve Liesman. The next FOMC meeting is July 29-30, so if (next Fed chair) Waller had his way, Powell would be cutting in just over a month. 

Waller said the FOMC should move slowly but start to ease as inflation is now longer a major economic threat. “I think we’re in the position that we could do this and as early as July”, Waller said in an interview with Steve Liesman. “That would be my view, whether the committee would go along with it or no”.

“I think we’ve got room to bring it down, and then we can kind of see what happens with inflation,” he said, adding the central bank could pause cuts if needed. And of course, let’s not forget that the Fed did cut 50bps two months before the election, when inflation was not only much higher than it is today, but when the US economy was just as weak as it is now.

Waller’s comments followed the decision by Fed policymakers on Wednesday to keep interest rates on hold. where the number of officials who saw rates unchanged in 2025 rose from 4 in March to 7, pointing to an apparent split in the committee.

Officials also continued to signal their expectation for two rate cuts before the end of 2025, according to their median projection.

Some more comments from Waller:

• *WALLER: DON’T WANT TO WAIT FOR CUTS UNTIL JOB MARKET TANKS
• *WALLER: JUST DON’T SEE SECOND-ROUND TARIFF INFLATION EFFECTS
• *WALLER: NOT ALL OF TARIFFS WILL BE PASSED THROUGH TO INFLATION
• *WALLER: MIGHT SEE INFLATION RISE THREE-TENTHS OR HALF PERCENT

Translation: “Mr President, I am happy to step in as shadow Fed chair until the stupid numbskull guy is out.”

Remarkably, Waller isn’t even among the list of candidates considered by Polymarket as next Fed chair.

He should be.

VICTOR DAVIS HANSON

USA NEWS/ANTISEMITISM..

KING NEWS

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GREG HUNTER..