JUNE 30/LONDON/OTC OPTIONS EXPIRY CONCLUDES WITH TODAY’S TRADING: GOLD CLOSED UP $20.00 TO $3296.20 BUT SILVER CLOSED DOWN 20 CENTS TO $35.95//PLATINUM FELL BY A SMALL $5.30 WHILE PALLADIUM FELL BY ANOTHER STRONG $43.75 TO $1099.75//GOLD COMMENTARY TONIGHT FROM ALASDAIR MACLEOD//GERMANY AND ITALY WANT TO REPATRIATE THEIR GOLD FROM THE FRBNY BACK TO THEIR RESPECTIVE COUNTRY//ISRAEL VS IRAN UPDATES/ISRAEL VS HAMAS UPDATES/HEZBOLLAH UPDATES//WEST BANK UPDATES/COVID UPDATES/MARK CRISPIN MILLER/NEWS ADDICTS ETC//IN OIL KHAZAK SHIP BLOWS UP AFTER PICKING UP RUSSIAN OIL//CANADA RESCINDS DIGITAL TAX AND NOW RESUMES NEGOTIATIONS WITH TRUMP/BUT THE WESTERN PROVINCES ARE ANGRY AS THEY THREATEN SEPARATION FROM CANADA//UPDATES ON TRUMP’S BBB//SWAMP STORIES FOR YOU TONIGHT//
190 H BMO CAPITAL MARKETS 4171 323 C HSBC 292 332 H STANDARD CHARTERED B 653 363 H WELLS FARGO SECURITI 2239 435 H SCOTIA CAPITAL (USA) 6 624 H BOFA SECURITIES 387 661 C JP MORGAN SECURITIES 116 686 C STONEX FINANCIAL INC 7 690 C ABN AMRO CLR USA LLC 5 3 709 C BARCLAYS 493 737 C ADVANTAGE FUTURES 16 905 C ADM 36
TOTAL: 4,212 4,212 MONTH TO DATE: 4,212
JPMORGAN STOPPED 0/25
JUNE
GOLD: NUMBER OF NOTICES FILED FOR JULY/2024: 4212 CONTRACTs NOTICES FOR 421,200 OZ or 13.100 TONNES
total notices so far: 4212 contracts for 421,200 OR 13.10 tonnes)
FOR JULY
XXXXXXXXXXXXXXXXXX
SILVER NOTICES: 5139 NOTICE(S) FILED FOR 25.695 OZ/
total number of notices filed so far this month : 5139 CONTRACTS (NOTICES) for 25.695 million oz
Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation
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 UP $20.00 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 INTO THE GLD.
INVENTORY RESTS AT 954.82 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER DOWN $0.20 AT THE SLV: NO CHANGES IN SILVER INVENTORY AT THE SLV: ///
CLOSING INVENTORY RESTS AT:
CLOSING INVENTORY: 477.958 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A HUGE SIZED 2330 CONTRACTS TO 166,485 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR LOSS OF $0.53 IN SILVER PRICING AT THE COMEX WITH RESPECT TO FRIDAY’S TRADING. WE FINALLY HAVE THE PIERCING OF $34.40 TO 34.50 SILVER PRICE BARRIER. WE HAD A HUGE SIZED LOSS OF 1901 TOTAL CONTRACTS ON OUR TWO EXCHANGES AS THE CME NOTIFIED US OF A STRONG 553 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE.. WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS//MONTH END SPREADERS IN COMEX TRADING WITH RESPECT TO FRIDAY’S RAID 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 FRIDAY WITH SILVER’S LOSS IN PRICE. THE PRICE FINISHED MILES ABOVE THE MAGIC NUMBER OF $34.40 SILVER SPOT PRICE CLOSING AT $36.15 . WE HAVE A MEGA HUGE T.A.S. ISSUANCE AT 1731 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 HUGE 553 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR HUGE SIZED 1731 CONTRACT T.A.S ISSUANCE WHICH WILL BE USED IN FRIDAY’S RAID/ AS THEY PLAY AN INTEGRAL PART IN OUR COMEX TRADING TRYING TO CONTAIN ANY SILVER PRICE RISE. IN ESSENCE WE LOST A HUGE SIZED 1777 CONTRACTS ON OUR TWO EXCHANGES WITH OUR LOSS IN PRICE OF $0.53.
EXCHANGE FOR RISK ISSUANCE FOR SILVER/MAY
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.
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 FRIDAY NIGHT/SATURDAY MORNING: A MEGA HUGE 1731 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 SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.53) AND WERE SUCCESSFUL IN KNOCKING OF QUITE A FEW NET SILVER LONGS FROM THEIR PERCH AS WE HAD A HUGE LOSS OF 1901 CONTRACTS ON OUR TWO EXCHANGES.
WE HAD A 553 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 34.730 MILLION OZ
THUS:
INITIAL STANDING FOR JULY: 34.730 MILLION OZ
WE HAD:
/ HUGE COMEX OI LOSS+// A 553 SIZED EFP ISSUANCE (/ VI) A MEGA HUGE NUMBER OF T.A.S. CONTRACT ISSUANCE 1731 CONTRACTS)
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: ADDED A TINY 24 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 20 DAY(S), total 16,213 contracts: OR 81.065 MILLION OZ (810 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 81.065 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: 81.065 MILLION OZ (NOTICE EFP ISSUANCE GETTING MUCH LARGER
JULY:
XXXXXXXXXXXXXXXXXXXXXXXXXXXX
RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2330 CONTRACTS WITH OUR LOSS IN PRICE OF $0.53 IN SILVER PRICING AT THE COMEX// FRIDAY.,. . THE CME NOTIFIED US THAT WE HAD A STRONG 553 CONTRACT EFP ISSUANCE CONTRACTS: 553 ISSUED FOR JULY AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS.
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
LAST 4 MONTHS OF SILVER DELIVERIES:
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 JUNE: INITIAL 9.90 MILLION OZ PLUS 85,000 OZ QUEUE JUMP = 16.995 MILLION OZ
AND JULY: 34.730 MILLION OZ//
THE NEW TAS ISSUANCE FRIDAY NIGHT (1766 ) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND FOR SURE MONDAY’S TRADING AND BEYOND!
WE HAD 5139 NOTICE(S) FILED TODAY FOR 25.695 MILLION 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 1574 OI CONTRACTS TO 436,022 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 3900 CONTRACTS //.
WE HAD A FAIR SIZED INCREASE IN COMEX OI (1574 CONTRACTS) . THIS OCCURRED DESPITE OUR LOSS OF $58.50 IN PRICE// FRIDAY///.
LAST THREE MONTHS OF GOLD DELIVERIES:
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: 93.085 TONNES OF GOLD (WHICH INCLUDES ALL QUEUE JUMPING AND 0 EX FOR RISK)
JULY INITIIAL: 17.847 TONNES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 1642 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 436,022 /NOW AT THE LOW END OF THE SCALE DESPITE THE HIGH PRICE OF GOLD!!
SILVER ALSO HAS A LOW COMEX OI OF 166,485 CONTRACTS BUT GAINING RAPIDLY!!
IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3216 CONTRACTS WITH 1574 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 1642 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 7116 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED AND CRIMINAL 1599 CONTRACTS
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS CONTRACT(1642) ACCOMPANYING THE FAIR SIZED INCREASE IN COMEX OI OF 1574 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 3216 CONTRACTS..WE HAVE 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT ,2.) STRONG INITIAL STANDING FOR GOLD FOR JULY AT 17.947 TONNES
NEW STANDING FOR GOLD, JULY CONTRACT AT 17.947 TONNES OF GOLD.
.
/ 3) CONSIDERABLE T.A.S. LIQUIDATION AS WE HAD 1)A $58.50 COMEX PRICE LOSS. HOWEVER WE HAD 2) ZERO NET LONG SPECS BEING CLIPPED WITH THE LOSS IN PRICE AS WE HAD A STRONG GAIN OF 3216 CONTRACTS ON OUR TWO EXCHANGES // /./ ALSO, 3)STICKY GOLD’S LONGS WERE REWARDED FRIDAY 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 (1642 CONTRACTS)/// FAIR T.A.S. ISSUANCE: 1599 T.A.S.CONTRACTS//
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: 31,442 CONTRACTS OR 3,144,200 OZ OR 97.79 TONNES IN 20 TRADING DAY(S) AND THUS AVERAGING: 1572 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN20 TRADING DAY(S) IN TONNES 97.79 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2024, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 97.79 TONNES DIVIDED BY 3550 x 100% TONNES = 2.76% OF GLOBAL ANNUAL PRODUCTION
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
AN. 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: 97.79 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 HUGE SIZED 2330 CONTRACTS OI TO 166,485 AND CLOSER TO 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 553 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 553 CONTRACTS and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 740 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 2330 CONTRACTS AND ADD TO THE 553 E.FP. ISSUED
WE OBTAIN A HUGE SIZED LOSS OF 1777 OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES WITH OUR LOSS IN PRICE OF $0.53 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 8.885 MILLION PAPER OZ
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
XXXXX
ASIAN MARKETS THIS FRIDAY MORNING:
SHANGHAI CLOSED UP 20.20 PTS OR 0.59%
//Hang Seng CLOSED DOWN 211.87 PTS OR 0.87%
// Nikkei CLOSED UP 336.60 PTS OR 0.84% //Australia’s all ordinaries CLOSED UP 0.34%
//Chinese yuan (ONSHORE) CLOSED UP AT 7.1642 OFFSHORE CLOSED UP AT 7.1625/ Oil DOWN TO 65.28 dollars per barrel for WTI and BRENT DOWN TO 66.67 Stocks in Europe OPENED MOSTLY RED
ONSHORE USA/ YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP TRADING AT 7.1642 AND STRONGER//OFF SHORE YUAN TRADING UP TO 7.1625 AGAINST US DOLLAR/ AND THUS STRONGER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST GAINED BY A FAIR SIZED 1574 CONTRACTS TO A STILL LOW NUMBER OF 436,022 OI DESPITE OUR HUGE LOSS IN PRICE OF $58.50 WITH RESPECT TO FRIDAY’S // TRADING. WE GAINED QUITE A FEW NUMBER OF NET LONGS WITH THAT PRICE GAIN FOR GOLD. AND AS YOU WILL SEE BELOW, OUR GAIN IN PRICE ALSO HAD A FAIR NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (1642 ). WE HAD HUGE T.A.S. LIQUIDATION ALONG AND HUGE MONTH END CALENDAR SPREADER LIQUIDATION FRIDAY.
THE CME ANNOUNCED FRIDAY NIGHT, A ZERO EXCHANGE FOR RISK CONTRACT ISSUANCE FOR 0 OZ OR NIL TONNES.
HISTORY: LAST SIX MONTH’S EXCHANGE FOR RISK
IN FEBRUARY:
WE HAD A HUGE FIVE EXCHANGE FOR RISKS ISSUANCES FOR GOLD, TOTALLING 18.4527 TONNES!.
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 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
jULY 0
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:
THE BANK OF ENGLAND
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)
DETAILS ON JULY COMEX MONTH//INITIAL
IN TOTAL WE HAD A STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 3216 CONTRACTS DESPITE OUR LOSS IN PRICE. HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON TUESSDAY 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, JUNE AND JULY 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 FAIR AS THE CME NOTIFIES US THAT THEY HAVE ISSUED 1599 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 FRIDAY 0.1493 TONNES QUEUE JUMP = 93.085 TONNES. (IS THE COMEX RUNNING OUT OF GOLD?)//TOTAL NET QUEUE JUMPING FOR THE MONTH FOR THE MONTH: 31.027 TONNES. HOWEVER JULY IS HUGE FOR A NON DELIVERY MONTH WITH INITIAL STANDING AT 17.947 TONNES
NEW TOTAL TONNES STANDING JULY: 17.947 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 1599 EFP CONTRACT WAS ISSUED: : /AUGUST 1599 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 1599 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. THE REGULATORY BODY THAT IS SUPPOSE TO CONTROL THESE EFP’S IS THE OCC HEADQUARTERED IN BOTH LONDON AND WASHINGTON.
WE HAD :
HUGE LIQUIDATION OF OUR T.A.S. SPREADERS
ZERO NET SPEC LIQUIDATION WITH OUR HUGE LOSS 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 SATURDAY MORNING//FRIDAY NIGHT WAS A FAIR SIZED, 1599 CONTRACTS.
THE RAIDS WHETHER ON OPTIONS EXPIRY MONTH OR OTHERWISE LIKE TODAY, ACCOMPLISHES TWO IMPORTANT ASPECTS FOR OUR CROOKS:
STALLS THE ADVANCE IN PRICE
LOWERS THEIR ADVANCING DERIVATIVE LOSSES.
MECHANICS OF T.A.S CONTRACTS TRADING;
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 FOR GOLD LAST 7 MONTHS OF 2025:
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: FINAL STANDING 62.534 TONNES PLUS 0.1493TONNES OF QUEUE JUMP EQUALS 93.085 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: 66.276TONNES (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
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
COMEX GOLD TRADING/JULY CONTRACT MONTH
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $58.50/ /) BUT THEY WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A STRONG SIZED GAIN IN OI FROM TWO EXCHANGES. AND AS EXPLAINED ABOVE WE HAD HUGE T.A.S. SPREADER LIQUIDATION + CALENDAR SPREADER LIQUIDATION ////FRIDAY AS THEY USED THEM UP FOR FRIDAY’S RAID. THE BANKERS ARE QUITE NERVOUS ABOUT BASEL III WITH ITS IMPLEMENTATION TO COMMENCE ON JULY 1. THEY ARE VERY CONCERNED WITH THEIR HIGH AMOUNT OF DERIVATIVES LOSSES ON THEIR BOOKS
SATURDAY MORNING//FRIDAY 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 FRIDAY EVENING SATURDAY 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 /JULY 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 TTO 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.
ANALYSIS JULY DELIVERY MONTH GOING FROM FIRST DAY NOTICE// JULY COMEX CONTRACT
WE HAVE GAINED A STRONG SIZED TOTAL OF 10.03 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR JULY FIRST RECORDED AT 17.947 TONNES ON FIRST DAY NOTICE/JUNE 30.
ALL OF THIS QUITE GOOD STANDING FOR JULY WAS ACCOMPLISHED DESPITE OUR LOSS IN PRICE TO THE TUNE OF $58.50
WE HAD A HUGE 3900 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 3216 CONTRACTS OR 321600 0Z (10.03 TONNES)
Total monthly oz gold served (contracts) so far this month
4212 notices 421200 oz 13.10 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month
dealer deposits: 0 entry
0 ENTRY
xxxxxxxxxxxxxxxxxxxxx
DEPOSITS/CUSTOMER
we have 0 customer entry
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
withdrawals:
1 ENTRY
OUT OF BRINKS 134.651 oz
total withdrawal 134.651 oz
adjustments: 1 ( DEALER TO CUSTOMER ACCTS)
a) JPMorgan 9902.638 oz (308 kilobars)
AMOUNT OF GOLD STANDING FOR JUNE
THE FRONT MONTH OF JUNE STANDS AT 5770 CONTRACTS FOR A LOSS OF 172 CONTRACTS.
THUS BY DEFINITION, THE INITIAL AMOUNT OF GOLD STANDING FOR THIS NON ACTIVE MONTH OF JULY IS AS FOLLOWS:
5770 CONTRACTS X 100 OZ PER CONTRACT = 577, 000 OZ OR17.947 TONNES OF GOLD WHICH IS HUGE FOR A JULY.
AUGUST LOST 2386 CONTRACTS UP TO 317,148
SEPT GAINED 133 CONTRACTS TO 1100
We had 4212 contracts filed for today representing 421,200 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices issued from their client or customer account. The total of all issuance by all participants equate to 4212 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 116 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for JULY /2025. contract month, we take the total number of notices filed so far for the month (4212 X 100 oz ) to which we add the difference between the open interest for the front month of JULY (5770 CONTRACTS) minus the number of notices served upon today (4212 x 100 oz per contract) equals 577,000 OZ OR 17.947 TONNES to which we add 0 tonnes of gold issued under exchange for risk// total standing 17.947 tonnes
thus the INITIAL standings for gold for the JULY contract month: No of notices filed so far (4212 x 100 oz +we add the difference for front month of JULY (5770 OI} minus the number of notices served upon today (4212 x 100 oz) which equals 577000 OZ OR 17.947 TONNES + 0 tonnes EX FOR RISK = 17.947 tonnes
TOTAL COMEX GOLD STANDING FOR JULY.: 17.947 TONNES WHICH IS VERY STRONG FOR THIS NORMALLY NON ACTIVE ACTIVE DELIVERY MONTH IN THE CALENDAR.
i) Out of Asahi 608,145.700 oz ii) Our of Brinks 595,470.500 oz
total withdrawal 1,203,616.200 oz
ADJUSTMENTs 1/
a) Dealer to customer CNT 1173,256.600 oz
TOTAL REGISTERED SILVER: 190.021 MILLION OZ//.TOTAL REG + ELIGIBLE. 499.695 Million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JUNE
silver open interest data:
FRONT MONTH OF JULY /2025 OI: 6946 OPEN INTEREST CONTRACTS FOR A LOSS OF 3217 CONTRACTS.
THUS BY DEFINITION, THE INITIAL AMOUNT OF SILVER STANDING FOR DELIVERY IN THIS VERY ACTIVE DELIVERY MONTH OF JULY IS AS FOLLOWS:
6946 CONTRACTS X 5000 OZ PER CONTRACT
EQUALS
34.730 MILLION OZ WHICH IS VERY STRONG FOR JULY.
AUGUST GAINED 136 CONTRACTS TO 2373
SEPTEMBER GAINED 687 CONTRACTS UP TO 129,593 CONTRACTS.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 5139 or 25,695,000 oz
CONFIRMED volume; ON FRIDAY 75,548 huge//
AND NOW MAY DELIVERIES:
To calculate the number of silver ounces that will stand for delivery in JULY. we take the total number of notices filed for the month so far at 5138 X5,000 oz = 25.695 MILLION oz
to which we add the difference between the open interest for the front month of JULY (6946) AND the number of notices served upon today (5138 )x (5000 oz)
Thus the standings for silver for the JULY 2025 contract month: (5138) Notices served so far) x 5000 oz + OI for the front month of JULY(6946) minus number of notices served upon today (5138)x 5000 oz equals silver standing for the JULY contract month equating to 34.730 MILLION OZ .
New total standing: 34.730 million oz which is huge for this active delivery month of JULY.
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 190.021million oz of registered silver
JPMorgan as a percentage of total silver: 214.820/499.694 million. 42.88%
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 30 WITH GOLD UP $20.00 TODAY// HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.43 TONNES OF GOLD INOT THE GLD //: /// ///INVENTORY RESTS AT 954.82 TONNES/
JUNE 27 WITH GOLD DOWN $58.50 TODAY// NO CHANGES IN GOLD AT THE GLD //: /// ///INVENTORY RESTS AT 953.39 TONNES/
JUNE 26 WITH GOLD UP $4.90 TODAY// HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 2.29 TONNES OF GOLD OUT OF THE GLD//: /// ///INVENTORY RESTS AT 953.39 TONNES/
JUNE 25 WITH GOLD UP $8.70 TODAY// HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.72 TONNES OF GOLD OUT OF THE GLD//: /// ///INVENTORY RESTS AT 955.68 TONNES/
JUNE 24 WITH GOLD DOWN $58.05 TODAY// HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 7.16 TONNES OF GOLD INTO THE GLD//: /// ///INVENTORY RESTS AT 957.40 TONNES/SINCE JUNE 13 ADDED 24.49 TONNES
JUNE 23 WITH GOLD UP $9.25 TODAY// HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 2.599 TONNES OF GOLD INTO THE GLD//: /// ///INVENTORY RESTS AT 950.241 TONNES
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
GLD INVENTORY: 954.82 TONNES, TONIGHTS TOTAL
SILVER
JUNE 30 WITH SILVER DOWN $0.20/ NO CHANGES AT THE SLV:.////INVENTORY RESTS AT 477.958 MILLION OZ.//
JUNE 27 WITH SILVER DOWN $0.53/ HUGE CHANGES AT THE SLV:. A WITHDRAWAL OF 1.636 MILLION OZ IOUT OF THE SLV..////INVENTORY RESTS AT 477.958 MILLION OZ.//
JUNE 26 WITH SILVER UP $0.48/ HUGE CHANGES AT THE SLV:. A WITHDRAWAL OF 1.091 MILLION OZ IOUT OF THE SLV..////INVENTORY RESTS AT 479.594 MILLION OZ.//
JUNE 25 WITH SILVER UP $0.35/ HUGE CHANGES AT THE SLV:. A WITHDRAWAL OF 2.363 MILLION OZ IOUT OF THE SLV..////INVENTORY RESTS AT 480.685 MILLION OZ.//
JUNE 24 WITH SILVER DOWN $0.37/ HUGE CHANGES AT THE SLV:. A DEPOSIT OF 3.453 MILLION OZ INTO THE SLV..////INVENTORY RESTS AT 480.685 MILLION OZ.//FROM JUNE 2 A HUGE 19.264 MILLION OZ ADDED
JUNE 23 WITH SILVER UP $0.18/ HUGE CHANGES AT THE SLV:. A DEPOSIT OF 2.591 MILLION OZ INTO THE SLV..////INVENTORY RESTS AT 477.232 MILLION OZ.
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
The sheer costs of rising and unfunded welfare obligations in Britain leading to financial collapse are a lesson for all G7 nations. There is no escape.
The British public believes that individuals have a fundamental right to welfare benefits and free healthcare. Just as the fallacies behind communism led to the collapse of the USSR and Mao’s China, European socialism is facing the same fate.
Beyond a certain point, all forms of socialism are bound to share communism’s destiny because they subscribe to the same Marxist philosophy. They believe that the state knows best and must control all economic activity either through ownership, command, or regulation. And they believe that free trade exploits the workers and enriches the capitalists— a mantra that is openly driving British government policy.
It is to the frustration of free traders that the political agenda increasingly destroys economic activity. Nowhere is this truer today than in Britain, where an inexperienced socialist government is comprised of ministers whose knowledge of political economy has not progressed much beyond the ideological naivety of university debating societies and the protest marches of their youth.
All major democracies appear to suffer from this intellectual immaturity to varying degrees. In Britain’s case the affliction has become acute. We know, or should know, the eventual outcome of social redistribution and idler’s entitlement. The productive elements in an economy become increasingly burdened by ever rising taxes. And the demands for welfare handouts grow unsustainably, faster than taxes can be raised to pay for them. That was the situation even before the Labour party was elected; now it has accelerated it towards eventual collapse.
On gaining office, Britain’s puerile ministers set about rewarding those they call the workers. Predominantly, these are members of powerful trade unions, the paymasters of the Labour party. New powers and protections for trade union members are enshrined in the Employment Rights Bill 2024, which has not yet completed its passage through Parliament. It will disadvantage businesses by imposing extra costs and operational rigidities. It will discourage employment.
Heavily unionised railways are being renationalised as operating contracts fall due. Strikes and go-slows will return along with filthy carriages and cancellations. Generous pay rises, higher than the rate of consumer price inflation have been handed out to government sector employees.
The consequences of Rachel Reeve’s first budget as chancellor have been to drive high-paying taxpayers abroad at great revenue cost and are leading to job losses particularly in small and medium-sized businesses up and down the country. Though the true cost is yet to be reflected in official GDP figures, there is no doubt about the British economy is regressing.
The Chancellor repeatedly claimed that she inherited a budget deficit of £22bn from the previous administration. As a result of her actions, that rose to £70bn in the fiscal year to March. The lesson is clear: public spending must be cut. But recent attempts to reduce welfare payments were met with a full-scale parliamentary rebellion from Labour members of parliament whose electors are heavily dependent on welfare payments. After all, without welfare there is no Labour party.
Perhaps it is provident that the collapse of Britain’s welfare state is being faced by an officially socialist administration for two reasons. The bankruptcy of the state, having been inevitable even under previous Conservative administrations will now occur sooner than it might have otherwise, offering the prospect of an earlier return to economic reality. And socialism, as opposed to capitalism will get the blame.
This cannot be said of European nations and the North Americans: Trump’s inevitable failure will be blamed on the Republicans[i], and Carney in Canada is a moderate socialist who can bend with the wind. As for the Europeans, their democracies are overwhelmingly coalition governments which in a crisis allows everyone to escape blame.
The background to the gathering welfare crisis includes a number of important factors. Economies require reliable energy. It is not accidental that climate change activism is driven by socialist radicals, who have found a new cause following the collapse of communism. Instead of famers producing food, they are subsidised by governments to cover their fields with solar panels while fossil fuels are being taxed out of production. This is bound to raise basic food prices.
The European motor industry has been directed to stop producing diesel and petrol automobiles in favour of electric vehicles, which few customers want. Seeing the opportunity, Chinese manufacturers have flooded the market. Do not be surprised if European manufacturers claim enormous government subsidies to avoid going bust.
All these woes combine with the covid shutdown legacy, which destroyed businesses’ cashflows. By shutting down significant economic activity in 2020, not only did government budget deficits soar but central banks which had already suppressed interest rates flooded their economies with additional credit through quantitative easing. The consequences have been predictable: the purchasing power of currencies subsequently fell, forcing central banks to raise interest rates leading to an ongoing financial crisis. For the moment, the debt bubble is being sustained by hopes that interest rates will fall.
This misunderstands the role of interest rates. It is not, as the socialists would claim that they are the pound of flesh demanded by usurers, but fears of loss by those who have capital to lend. Collectively, lenders and investors are just beginning to realise the extent of these risks; but perhaps not yet the inevitability of the debt traps ensnaring welfare-driven economies.
Under its socialist government, Britian in common with the other G7 nations is discovering that higher taxes cannot keep pace with government spending commitments. Those taxes are what also cover government debt interest, and if the debt grows at a faster pace than the ability to cover the interest upon it, a financial crisis ensues. During such a crisis, interest rates rise to reflect the growing risk, making the crisis even worse. That is the classic debt trap.
For the moment, these dynamics have only recently become a topic for debate among foreign holders of US dollars. So far, the dollar has been mostly sold in exchange for other G7 currencies, indicating that the dangers faced by the latter are yet to be appreciated. But the dollar is the poster child for all fiat currencies. And as the dollar’s growing risks begin to be reflected in higher US treasury bond yields, the finances of welfare states will come under scrutiny as well.
It is little wonder that central banks, their governments, and their new wealthy not indoctrinated into welfare statism are running for the hills and buying gold. They understand that it is the ultimate refuge from credit risk.
The wider investing publics in the welfare states are blissfully unaware of the credit catastrophe in the making. But by degrees they will begin to realise the danger to their currencies and their underlying investments — most likely when against their expectations bond yields begin to rise again, destroying the illusion behind government finances.
[i] Trump’s tariffs will drive the global economy into recession and the US economy with it. The only people who deny this are his own supporters.
3. CHRIS POWELL AND GATA DISPATCHES
Anthony Rowley: Central banks rush to gold as fears of U.S. dollar crisis mount
Submitted by admin on Sun, 2025-06-29 12:00 Section: Daily Dispatches
By Anthony Rowley South China Morning Post, Hong Kong Saturday, June 28, 2025
Why are central banks, including those of China and India, adding gold bullion to their reserves at an almost alarming rate, to the point where gold is now second only to the U.S. dollar as an official reserve asset?
It is not for the same reason that others are snatching up the yellow metal, which is to act as a hedge against inflation or stagflation.
Central banks have instead joined the gold rush because they fear financial crises occurring, simultaneously and on multiple fronts, and these institutions constitute the first line of defence in dealing with such contingencies.
But why gold? Because a crisis of the chief reserve asset — the U.S. dollar itself — could be in the offing.
Gold has overtaken the euro as the second-most-important reserve asset for central banks, driven by record purchases and soaring prices, according to a European Central Bank report published this month. Bullion accounted for 20% of global official reserves last year, outstripping the euro’s 16%.
Central bank gold holdings are now back to where they were in the 1960s, before gold went out of official fashion. This is no ordinary diversification of central bank reserves. It more closely resembles panic buying — not so much financial funk on the part of central banks as a scramble to stay ahead of anticipated crises in the financial system. …
Martin Sandu: Welcome to the new age of financial repression
Submitted by admin on Sun, 2025-06-29 11:50 Section: Daily Dispatches
By Martin Sandbu Financial Times, London via MSN News, Redmond, Washington Sunday, June 29, 2025
The trade war unleashed by Donald Trump may be just the precursor for much larger turmoil in the global economy. Whatever tariffs look like when the dust settles, deficits, surpluses and trade patterns will still be shaped by financial flows. It is only a matter of time before another economic policy war flares up — indeed, it has already begun.
Welcome to the new age of financial repression.
Financial repression refers to policies designed to steer capital to fund government priorities, rather than where it would flow in unregulated markets. In the postwar decades, Western countries used regulation, tax design, and prohibitions both to limit capital flows across borders and direct domestic flows into favoured uses, such as government bonds or housebuilding.
The United States then spearheaded the decades of financial deregulation and globalisation that led up to (and led to) the global financial crisis. The U.S. has now made abundantly clear that it rejects its traditional role in dismantling financial walls between countries and anchoring the global financial order.
Rumours of a “Mar-a-Lago accord,” which would manage the dollar’s value down while forcing global investors to discount and lock in lending to Washington, has produced shocked disbelief by other countries. But it is not just Mar-a-Lago: Several policy proposals have surfaced recently that can fairly be grouped together as measures of financial nationalism. …
Why central banks are pulling gold from the U.S., and why it started in Germany
Submitted by admin on Sat, 2025-06-28 11:42 Section: Daily Dispatches
By Jeremy Szafron Kitco News, Montreal Friday, June 27, 2025
A quiet repatriation campaign launched by Germany more than a decade ago has now evolved into a global rethink of who controls sovereign wealth.
Peter Boehringer, the architect of Germany’s gold repatriation program, says what started as a debate in one Parliament is now playing out in central banks around the world.
I started this in 2007. For many years, I was the only one asking these questions in Parliament,” Boehringer told Kitco News. “It took six years to get an answer, and we only got moving in 2013. We brought back 674 tonnes — that was a success. But I wanted all of it back.” …
Americans cash out on gold coins as Asian investors bulk up
Submitted by admin on Sat, 2025-06-28 11:25 Section: Daily Dispatches
By Yvonne Yue Li Bloomberg News Saturday, June 28, 2025
Americans who once snapped up gold bars and coins are offloading the assets while their Asian counterparts show no letup in bullion buying, a sign investors on opposite sides of the world have different outlooks on the global economy.
The divergence suggests U.S. residents who stash bars and coins at home or in safe deposit boxes–— akin to stock market day traders — are more at ease about President Donald Trump’s tariffs, rising government debt, and geopolitical tensions. And they’re ready to cash in after the metal’s stunning rally over the past two years.
Known as retail investors, these Americans are bucking broader market trends in which more wealthy investors continue to aggressively buy the haven asset as do sovereign funds and central banks. Meanwhile, Asian gold buyers are eschewing jewelry for bars and coins. …
China opens first offshore gold vault in Hong Kong
Submitted by admin on Thu, 2025-06-26 19:49 Section: Daily Dispatches
By Yihui Xie and Sybilla Gross Bloomberg News Thursday, June 26, 2025
The Shanghai Gold Exchange has expanded outside mainland China for the first time, with the rollout of two new contracts and a bullion vault in Hong Kong.
The launch serves a number of purposes, from broadening the Shanghai bourse’s international reach, to strengthening China’s clout in commodity and currency markets and Hong Kong’s status as a financial center.
Trading will be conducted in yuan and settled by cash or physical delivery, including to the new vault operated by Bank of China Ltd.’s Hong Kong unit, the SGE said in a statement.
The two contracts covering different purity levels will debut today. To attract traders, the exchange said it will waive fees at the vault through the end of the year. …
// Nikkei CLOSED UP 336.60 PTS OR 0.84% //Australia’s all ordinaries CLOSED UP 0.34%
//Chinese yuan (ONSHORE) CLOSED UP AT 7.1642 OFFSHORE CLOSED UP AT 7.1625/ Oil DOWN TO 65.28 dollars per barrel for WTI and BRENT DOWN TO 66.67 Stocks in Europe OPENED MOSTLY RED
ONSHORE USA/ YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP TRADING AT 7.1642 AND STRONGER//OFF SHORE YUAN TRADING UP TO 7.1625 AGAINST US DOLLAR/ AND THUS STRONGER
END
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS MONDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP TO 7.1642 (CHINESE COMMUNIST PARTY MANIPULATED)
OFFSHORE YUAN: UP TO 7.1625 (CCP MANIPULATED)
SHANGHAI CLOSED UP 20.20 PTS OR 0.59%
HANG SENG CLOSED DOWN 211.87 PTS OR 0.83%
2. Nikkei closed UP 336.60 PTS OR 0.84%
3. Europe stocks SO FAR: ALL MOSTLY RED
USA dollar INDEX DOWN TO 96.79/ EURO RISES TO 1.1726 UP 16 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +1.432//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 144.16…… 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 UP /JAPANESE Yen UP 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 DOWN 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 +2.5730/Italian 10 Yr bond yield DOWN to 3.473 SPAIN 10 YR BOND YIELD DOWN TO 3.207%
3i Greek 10 year bond yield DOWN TO 3.290
3j Gold at $3277.65 Silver at: 35.90 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 0 AND 28 /100 roubles/dollar; ROUBLE AT 78.46
3m oil (WTI) into the 65 dollar handle for WTI and 66 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 144.51// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.440% 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 0.7966 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9343 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: 4.248 DOWN 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.805 DOWN 4 BASIS PTS/
USA 2 YR BOND YIELD: 3.721 DOWN 3 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 39.77
10 YR UK BOND YIELD: 4.487 DOWN 2 PTS
10 YR CANADA BOND YIELD: 3.312 UP 1 BASIS PTS
5 YR CANADA BOND YIELD: 2.852 UP 1 PTS
2a New York OPENING REPORT
Futures Push Higher Into Record Territory Amid Trade Talk Progress
Monday, Jun 30, 2025 – 08:36 AM
S&P 500 futures pushed deeper into record territory as progress in trade negotiations aids sentiment following Friday’s record high close for cash index, the first since February. As of 8:00am ET, S&P futures are up 0.4% on positive trade headlines, including US/Canada, US/EU, US/India, and US/Taiwan (on Friday, the US/Canada flare up limited gains late in the session, with Canada reversing just two days later and agreeing to withdrew its digital services tax on US tech companies to restart talks). Nasdaq futures gain 0.6% amid a continued meltup in AI names and the most shorted basket; tech stocks lead in premarket trading, with Mag7/semis producing early strength, banks higher on de-reg, with Industrials also pushing Cyclicals over Defensives. Major European markets are all lower with France leading and Spain lagging, while the Asian session saw Japan leading and HK lagging given weakness in HSTECH. Besides the Canadian U-turn, French Finance Minister Lombard said hes optimistic about securing a EU/US trade deal before the July 9th deadline; India’s trade team extended their stay in the US to work on a deal. Outside of trade, focus for the week will be on quarter-end today, Powell speaking and ISM Manf on Tuesday and Payrolls on Thursday, along with negotiations over Trump’s “One Big Beautiful Bill.” Yields are lower with the very front-end selling off while 10Y yields are down 2bps to 4.25%. Month-end bond index rebalancing at 4pm New York time has potential to drive buying by passive investors. The USD starts the week lower. Commodities are mixed with Energy weaker, precious higher, and Ags mixed. Today’s macro data focus is Chicago PMIs (9:45am), Dallas Fed Manf (10:30am), Fed’s Bostic (10am), Goolsbee (1pm); markets await jobs data over the next 3 sessions.
In premarket trading, Tesla is the only stock among Magnificent 7 companies falling, down 0.8%, as President Trump’s landmark budget bill passed a key senate hurdle over the weekend. The bill cuts electric vehicle and other clean energy credits. Other Mag7 names are all higher (Amazon +0.6%, Meta +1.9%, Apple +0.8%, Nvidia +0.7%, Alphabet +1.2%, Microsoft +0.6%).
Circle Internet Group (CRCL) falls 4% after JPMorgan — a lead in its successful IPO this month — starts coverage with an underweight recommendation due a valuation pushed beyond the broker’s “comfort zone.”
Disney (DIS) climbs 2% after Jefferies upgraded it’s rating to buy, with the broker now seeing limited risk for a slowdown for its key parks division in 2H 2025.
Goldman Sachs Group (GS) rises about 2%, gaining with other US banks after the industry’s biggest names comfortably cleared the Federal Reserve’s annual stress test late Friday, setting the stage for lenders to boost buybacks and dividends for shareholders. Wells Fargo (WFC) +2%; Bank of America (BAC) +1%
Juniper Networks (JNPR) gains 8.4% and HP Enterprise (HPE) rises 8% after the Justice Department settled its lawsuit challenging Hewlett Packard Enterprise’s $13 billion takeover of Juniper Networks, less than two weeks before a trial was set to start, clearing a key hurdle for the takeover.
Moderna Inc. (MRNA) climbs 5% after saying its experimental flu shot met its goal in a late-stage trial, clearing the path for its broader strategy of selling combination vaccines.
The de-escalation in the conflict between Israel and Iran, combined with data highlighting the US economy’s resilience, propelled the S&P 500 to a record high last week, marking a stunning rebound from April’s tariff-induced rout. Subdued inflation is also strengthening market expectations for interest-rate cuts, even as the Federal Reserve maintains a cautious stance.
Sure enough, US futures continue to climb on positive trade developments ahead of the July 9th deadline; Canada withdrew digital service tax on tech firms to restart talks w/ US, France’s finance minister said EU can reach some form of agreement before July 9th deadline, India’s team extended their stay in the US to work on a deal, Taiwan noted constructive progress, although Japan talks reportedly stalled over auto tariffs. With Trump’s July 9 trade deadline fast approaching, officials say negotiations with major partners such as China and the European Union are making progress. Talks with Canada are back on track after the country withdrew a digital services tax, while India’s trade team extended their stay in Washington to iron out differences.
“There is room for further investments in stocks. However, let us not forget that the tariffs will bring a stagflation risk on the US economy,” said Fabien Benchetrit, head of target allocation for France and southern Europe at BNP Paribas Asset Management. “Looking at all the positioning indicators at my disposal, I can not exclude a melt-up.”
Elsewhere, Trump’s One Big Beautiful Bill Act starts a Senate debate/vote this morning with the goal still for a passage by July 4th, after passing a key procedural block by a narrow margin over the weekend. Negotiations are continuing as Republicans seek to convince holdouts to support it for final passage. The nonpartisan Congressional Budget Office estimates the measure would add nearly $3.3 trillion to US deficits over a decade, weighing on the greenback.
Momentum trades persisted not only in stonks, but also in FX, and the dollar resumed its decline, falling as much as 0.4% against a basket of currencies to trade near three-year lows. The Bloomberg dollar index is down almost 9% for the year, its worst first half since the gauge’s inception in 2005.
“The US dollar remains under cyclical downward pressure, driven by ongoing uncertainties surrounding US fiscal and trade policies,” noted Lloyd Chan, a strategist at Mitsubishi UFJ Financial Group. “One key driver that could further hurt the US dollar is the potential surge in fiscal debt stemming from President Trump’s one big beautiful bill.”
In Asia, the Taiwan dollar plunged more than 2% against the greenback. The sudden move in late trading followed a pattern seen on Friday, fueling speculation the central bank intervened to curb strength in the currency.
Investors are looking to upcoming data, including the monthly payrolls report, to assess the strength of the economy and the outlook for interest rates, with swap traders pricing in at least two quarter-points of Fed easing this year. The employment data “will be watched closely for any signs that the US economy is reaccelerating or slowing more than anticipated,” said Daniel Murray, chief executive officer of EFG Asset Management. “If the latter, then the Fed would be expected to cut rates earlier, although it would be more concerning from the corporate side of things.”
European stocks erase early gains as the Stoxx 600 declines 0.2% with auto, bank and mining shares leading the broader market lower. Here are the most notable movers:
Serica Energy shares jump as much as 7.9% as it prepares to restart production on the Triton floating production, storage and offloading vessel in the UK North Sea after completing work on the project.
Kardex shares rise as much as 8% to trade at their highest level in over four months after being upgraded by Kepler Cheuvreux.
Real estate gains, and is the best-performing sector in Europe, as Deutsche Bank upgrades several names and says it favors commercial real estate over residential.
STMicroelectronics and Infineon shares gain as both stocks are placed on positive catalyst watch at JPMorgan.
Renewable energy stocks including Vestas and Orsted drop as the Senate’s latest version of President Donald Trump’s spending package looks to phase out key tax incentives for US wind and solar projects more aggressively.
Forbo shares drop as much as 5.2%, the most in over six weeks, after announcing its Chief Financial Officer and interim Chief Executive Andreas Jaeger will be leaving the floor covering and adhesive manufacturer in the fourth quarter of 2025.
Croda shares drop as much as 4.3% on Monday after Kepler Cheuvreux initiated coverage of the UK-based chemicals supplier with a reduce recommendation.
Galderma shares fall as much as 4.5%, the most in over two months, as UBS cut the stock to neutral from buy following its recent strong performance. Broker sees limited upside ahead.
Man Group shares fall as much as 3.6%, the most since mid-April, after Peel Hunt downgrades the investment management firm’s stock to add from buy, citing the performance of its AHL funds in the current market environment.
WH Smith shares drop as much as 8.3%, the most in 14 months, after the retailer completed the sale of its high street business, but under revised terms that will see lower gross proceeds flow into its accounts.
TT Electronics shares drop as much as 7.7%, pulling back from a six-month high, after the electronics company reported a drop in sales during the first five months of the year ahead of its annual general meeting later today.
Earlier in the session, Asian stocks edged lower, reversing early gains, as losses widened in Hong Kong and Taiwan in late trading. Tech shares weighed on the regional benchmark after making advances last week. The MSCI Asia Pacific Index erased an increase of as much as 0.4% to trade 0.2% lower, with TSMC, Tencent and Alibaba the biggest drags. Gauges in India and the Philippines also fall, while those in Japan, South Korea and Australia closed higher. Tech firms listed in Hong Kong mostly traded lower as investors took some money off the table ahead of a deadline for trade talks with the US next week. Shares fell more than 1% in Taiwan amid equity outflows and as the local currency slumped in a sudden move toward the end of trading.
In rates, treasury futures advance in early US session, outperforming European bonds gaining on UK GDP and regional German CPI data. Yields are 2bp-3bp richer across tenors with curve spreads little changed; 10-year TSY near 4.25% is about 2.5bp richer on the day and about 1bp better vs bunds and gilts in the sector. Month-end bond index rebalancing is projected to increase duration of Bloomberg Treasury index by 0.07 year. Bunds gain, having benefited from state inflation readings that point to the national rate coming in slightly below the consensus later on Monday. Italian CPI also rose less than expected. German 10-year borrowing costs fall 1 bp to 2.58%.
In FX, the Bloomberg Dollar Spot Index falls 0.2% while the yen take top spot among the G-10 currencies, rising 0.3% against the greenback. The pound is the weakest with a 0.1% fall.
In commodities, oil slightly lower following headlines of a potential sizeable OPEC+ production increase on Friday, with the meeting set for this weekend. CTA models are now firmly for sale in oil—nearly $10bn in selling expected over the week across Brent and WTI. WTI trades down 0.3% to around $65 a barrel. Energy remains a funding short. Spot gold climbs $10 to around $3,285/oz.
Looking at today’s calendar, the US data slate includes June MNI Chicago PMI (9:45am, several minutes earlier for subscribers) and Dallas Fed manufacturing activity (10:30am). Ahead this week are ISM manufacturing, JOLTS, ADP employment and June employment report — on Thursday ahead of July 4 holiday. Fed speakers include Bostic (10am) and Goolsbee (1pm). Tuesday, Fed Chair Powell participates on a policy panel in Sintra with BOE Governor Andrew Bailey, ECB President Christine Lagarde, BOJ Governor Kazuo Ueda and Bank of Korea Governor Chang Yong Rhee.
Market Snapshot
S&P 500 mini +0.4%
Nasdaq 100 mini +0.6%
Russell 2000 mini +0.5%
Stoxx Europe 600 -0.2%
DAX little changed
CAC 40 little changed
10-year Treasury yield -3 basis points at 4.25%
VIX +0.8 points at 17.07
Bloomberg Dollar Index -0.2% at 1193.38
euro +0.1% at $1.1732
WTI crude little changed at $65.5/barrel
Top Overnight News
Trump’s $4.5 trillion tax-cut bill faces a marathon voting session on dozens of amendments in the Senate today. It faces opposition from around eight Republican senators. The CBO estimates the proposal would add $3.3 trillion to US deficits over the next decade. BBG
Congressional Budget Office said the Senate version of the Trump tax bill will add USD 3.3tln to US debt over the next decade: BBG
Elon Musk posted on X that the latest Senate draft bill will destroy millions of jobs in America and cause immediate strategic harm to the country, while he added it is utterly insane and destructive, as well as gives out handouts to industries of the past while severely damaging industries of the future.
Fox’s Pergram says “Senate not expected to begin vote-a-rama until 9 am et on Big, Beautiful Bill. Most vote-a-ramas run 9 to 15 hours. House not expected to vote until Wednesday at the earliest”: Fox
Canada has scrapped a digital services tax that targeted US technology companies, in an effort to smooth trade negotiations with its neighbor after Trump described the levy as a “direct and blatant” attach. FT
OpenAI is starting to utilize some of Google’s proprietary AI chips to power ChatGPT and other products, the first time it has used non-Nvidia silicon in a meaningful way (OpenAI hopes the Google chips will help reduce costs). The Information
China’s NBS PMIs for June come in a bit ahead of expectations, including manufacturing at 49.7 (up from 49.5 in May and above the Street at 49.6) and non-manufacturing at 50.5 (up from 50.3 in May and above the Street at 50.3). WSJ
Trump floated the idea of keeping 25% tariffs on Japan’s cars as talks between the two nations continued with little more than a week to go before a slew of higher duties are set to kick in if a trade deal isn’t reached.
South Korea sees the need for trade negotiations with the US to continue past next week’s deadline as Seoul continues to seek exemptions from US tariffs including duties affecting the auto and steel industries. BBG
Ukraine said Russia fired a record 537 missiles and drones yesterday, targeting seven regions. Meanwhile, Vladimir Putin expanded the range of information covered by a state secrecy law. BBG
France’s finance minister said the EU can clinch some form of trade agreement with the US before a July 9 deadline. BBG
Iran said it doubts the US-brokered ceasefire with Israel will last, and warned of a firm response to any aggression. Meanwhile, an intercepted call showed Tehran felt the strikes on its nuclear program were less damaging than expected. BBG, WaPo
Trade/Tariffs
US President Trump announced on Friday that the US is stopping trade talks with Canada due to the latter putting a digital services tax on US tech companies. However, it was reported a few days later that Canada rescinded the Digital Services Tax to advance broader trade negotiations with the US, while PM Carney and US President Trump agreed that parties will resume negotiations with a view towards agreeing on a deal by July 21st.
US President Trump said in an interview with Fox Business News, which aired on Sunday, that Japan takes in no American cars and its vehicles should be subject to a 25% auto tariff in the US.
UK government said the UK-US trade deal has today come into force, slashing US export tariffs for the UK’s automotive and aerospace sectors, while it added that UK car manufacturers can now export to the US under a reduced 10% tariff quota and that 10% tariffs on goods like aircraft engines and aircraft parts are removed with a commitment to maintain them at 0%.
Canada acted to support its steel producers and workers in which it set new tariff rate quotas for steel mill product imports from non-FTA partners.
China Customs said it resumed imports of qualified aquatic products from some Japanese regions.
Indonesia is to ease import restrictions on some goods including forestry products, plastic materials and some fertilisers, while it offered the US to jointly invest in the Brownfield Project of critical minerals in Indonesia as part of tariff talks.
Bank for International Settlements said the global economy and financial system have entered a new era of heightened uncertainty, while it added that rising protectionism and trade fragmentation are particularly concerning.
EU Competition Commissioner Ribera say, on a EU-US deal, “We will not compromise … around sovereignty and around regulation on how to work in our own market,”, via Politico citing excerpts from The Capitol Forum.
Japan’s Tariff negotiator says they will continue working with the US to reach a tariff agreement, while defending national interests. Continuation of 25% auto tariffs would cause significant damage.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks began the week mostly in the green following last Friday’s record highs on Wall St but with some of the gains capped heading into month-end and as participants digested a slew of data including somewhat mixed Chinese PMIs. ASX 200 edged higher with strength in the defensive sectors but with upside limited by data including softer-than- expected private sector credit. Nikkei 225 outperformed despite disappointing Industrial Production data which showed a surprise Y/Y contraction and with the index also unfazed by recent comments from US President Trump who noted that Japanese vehicles should be subject to a 25% auto tariff in the US. Hang Seng and Shanghai Comp were mixed following the latest PMI data which showed headline Manufacturing PMI remained in contraction territory, as expected, although Non-Manufacturing PMI accelerated at a faster pace than forecast.
Top Asian News
US officials are drawing up plans for US President Trump’s state visit to China later this year with a delegation of dozens of CEOs, according to Nikkei.
US President Trump said they have a buyer for TikTok and that it is a group of very wealthy people.
Canada’s Industry Minister ordered Hikvision (002415 CH) to cease all operations and close its business in the country after a national security review.
Japanese government official said regarding factory output that sentiment among manufacturers is worsening over uncertainties in the production environment and the number of firms concerned about the impact of US tariffs on production and shipments slightly increased in May from April.
European bourses kicked off the first trading session of the week with modest gains following the upside on Wall Street, in which the sentiment reverberated into APAC markets before reaching Europe; Stoxx 600 +0.1%. However, gains are modest and benchmarks are gradually dipping into the red with traders cognisant of the looming July 9th reciprocal deadline. Sectors opened firmer with just Energy in the red, though the picture since has become more mixed but with the breadth of price action narrow. Focus on reports that US tariff policies coupled with low river levels are causing the worst supply chain congestion since COVID, according to FT. Issues at the ports of Rotterdam, Antwerp, and Hamburg are expected to last for several months.
Top European News
UK launches the biggest financial advice shakeup in more than a decade with the regulator unveiling plans for targeted support to help individuals get better returns, according to FT.
ECB’s de Guindos says they are confronting “brutal uncertainty”; Q2, Q3 growth will be almost flat; Consumption as a driver has not happened; must keep all rate options open because of uncertainty.
ECB updates its monetary policy strategy: Governing Council confirms symmetric 2% inflation target over the medium term; Symmetry requires appropriately forceful or persistent policy response to large, sustained deviations of inflation from target in either direction; all tools remain in toolkit and their choice, design and implementation will enable an agile response to new shocks; structural shifts such as geopolitical and economic fragmentation and increasing use of artificial intelligence make the inflation environment more uncertain.
FX
DXY has commenced the week, month-end, quarter-end and half-year-end off on a mildly negative footing after a run of five consecutive losses last week. Down to a 96.97 low at worst, while the benchmark remains in the red it has managed to reclaim the figure, but remains shy of the earlier 97.299 peak. For reference, the mentioned session low is another multi-year trough.
EUR contained. EUR/USD faded out initial gains, peaked at 1.1750, just before Friday’s 1.1753 multi-year peak. Focus on the inflation front, though no significant move to German State or Italian prelim CPI thus far, with near term focus firmly on the trade agenda.
JPY tops the G10 leaderboard. USD/JPY as low as 143.79, is now back to the 144.00 mark but someway shy of the 144.76 peak.
Sterling marginally softer vs both the EUR and USD. Incremental drivers for the UK light, though today sees the UK-US deal come into force. Cable currently contained within Friday’s 1.3683-1.3752 range.
Antipodeans benefitting from the constructive risk tone and after the PBoC set a firmer Yuan reference rate overnight.
PBoC set USD/CNY mid-point at 7.1586 vs exp. 7.1681 (Prev. 7.1627).
South Africa’s DA Party leader said the Democratic Alliance will withdraw from national dialogue with immediate effect and is in the process of losing confidence in the President’s ability to lead the government.
Fixed Income
Contained overnight ahead of a busy and front-loaded week. Focus remains firmly on the trade and fiscal fronts; awaiting the reciprocal deadline and monitoring the Reconciliation Bills Senate passage respectively.
While pertinent, the above developments have not changed the macro picture just yet with USTs in the green by just a handful of ticks within a narrow 111-22 to 112-00+ band, a range that is almost a repeat of Friday’s 111-22+ to 112-02 parameter.
Bunds are firmer on the session, began in the green and lifted on the morning’s German data points of Import Prices and Retail Sales. Thereafter, State CPIs printed and while the metrics were mixed the overall skew was cooler-than-previous, defying consensus for a mainland uptick, lifting Bunds to a 130.52 peak.
Gilts in the green as well, largely following suit to the above price action in Bunds and USTs. Newsflow lighter domestically as the scale of Labour rebellion to PM Starmer’s Welfare Bill appears to have moderated significantly after the u-turn on Friday. While firmer, Gilts remain shy of the 93.36 peak on Friday and by extension last week’s 93.57 high.
Spanish Economy Minister says we should work to increase the supply of EUR-denominated assets such as joint EU debt issued to finance defence spending.
Commodities
Crude benchmarks in the red but only modestly so with losses of c. USD 0.20/bbl, after a slightly choppy morning. Began the APAC session subdued given an absence of significant weekend newsflow. This morning, prices found a floor shortly after US President Trump posted that he is not offering Iran anything, and is not talking to Iran since destroying their nuclear sites.
WTI resides in a USD 64.50-65.45/bbl range while its Brent counterpart trades in a USD 65.92-66.87/bbl range.
Spot gold is firmer amid the Dollar softness and ahead of upcoming risk events. XAU stopped just shy of USD 3,300/oz this morning after rising from a USD 3,244/oz base.
Copper futures are subdued with a similar performance to APAC seen in Europe amid the mixed risk appetite; overnight, the latest Chinese PMI data showed Manufacturing PMI remained in contraction territory despite the US-China trade truce, possibly also weighing on sentiment for the red metal.
Israel’s Oil Refineries said it resumed partial operation of refining activity in Haifa after damage caused by an Iranian missile during the Israel-Iran war, with full operation expected by October.
Smoke arose from Iran’s Tabriz refinery, which was caused by a nitrogen tank explosion, although there were no casualties from the incident.
Geopolitics: Middle East
Israel’s army said it identified the launch of a missile from Yemen on Saturday.
Egyptian Foreign Minister said work is underway on an upcoming agreement in Gaza that includes a 60-day truce, according to Alhadath via X.
US President Trump said Israeli PM Netanyahu is in the process of negotiating a deal with Hamas to get hostages back.
US President Trump said he knew exactly where Iran’s Supreme Leader Khamenei was sheltered and would not let Israel or US armed forces terminate his life, while Trump said he demanded that Israel bring back a very large group of planes that were headed directly to Tehran in the final act of the war. Furthermore, Trump said he was working on the possible removal of sanctions in the last few days and other things which would have given Iran a much better chance at a recovery but warned that Iran has to get back into the world order flow or things will only get worse for them.
US justified its strikes on Iran as collective self-defence under the UN Charter in a letter to the UN Security Council and said the objective was to destroy Iran’s nuclear enrichment capacity and stop the threat that Tehran obtains and uses a nuclear weapon, while it added that the US remains committed to pursuing a deal with the Iranian government.
IAEA chief Grossi said Iran has the capacity to start enriching uranium again for a possible bomb in a matter of months, according to BBC.
Iran’s Foreign Minister said if US President Trump is genuine about wanting a deal, he should put aside the disrespectful and unacceptable tone towards Iran’s Supreme Leader.
Iran’s Armed Forces Chief of Staff Mousavi told Saudi Arabia’s Defence Minister that they highly doubt Israel’s commitment to the ceasefire, according to Tasnim.
Iran permitted the transiting of international flights over the centre and west of the country. In relevant news, Emirates cancelled all flights to and from Tehran until July 5th due to the regional situation, while it is to recommence operations to Baghdad on July 1st and Basra on July 2nd.
US President Trump says he is not offering Iran anything, and is not talking to Iran since destroying their nuclear sites.
“A source involved in the negotiations for a ceasefire in Gaza told the pro-Qatari news website Arabi 21 this morning that it is believed that an Israeli delegation will arrive in Cairo in the next two days”, according to Israeli Radio’s Kai.
Iran’s MFA spokesperson Baghaei says Iran and the EU have not agreed on a date for the next round of discussions. Talks are ongoing with the E3.
Geopolitics: Ukraine
Russia said its troops captured Novoukrainka in eastern Ukraine, according to RIA.
US President Trump said on Friday that he may send patriot missiles to Ukraine and commented that he will get the conflict solved with North Korea’s leader Kim.
Geopolitics: Other
India’s Ministry of External Affairs said they have seen and rejected the official statement by the Pakistan Army seeking to blame India for the attack in Waziristan on June 28th.
US Event Calendar
9:45 am: Jun MNI Chicago PMI, est. 42.85, prior 40.5
10:30 am: Jun Dallas Fed Manf. Activity, est. -12, prior -15.3
Central Banks speakers
10:00 am: Fed’s Bostic Speaks on the Economic Outlook
1:00 pm: Fed’s Goolsbee Speaks in a Moderated Discussion
DB’s Jim Reid concludes the overnight wrap
Good morning and welcome to the last day of a tumultuous H1. I think I got heatstroke three times over the weekend so I’m looking forward to work and air con today. Good luck in parts of France, Spain, Italy, Portugal and Greece (amongst others) as you continue to battle temperatures over 40 degrees.
If the heat doesn’t impact you, standby to be disorientated in other ways in this holiday shortened week, as payrolls sees a rare Thursday outing ahead of the Independence Day holiday on Friday. We also have the US ISMs tomorrow and Wednesday, and the various global PMI numbers from tomorrow which will give us a good guide to global economic momentum in June. Elsewhere a highlight will be the ECB forum in Sintra starting today and the European inflation numbers today and tomorrow. The US tax bill should be finalised this week although at the moment it needs to pass the Senate today (or possibly tomorrow), after a drama filled weekend of horse trading, and then back to the House for final approval. The President wants it done by Friday’s holiday. At that point attention will swiftly focus to the July 9th deadline extension for reciprocal tariffs. Indeed you’ll probably get headlines build up this week and the risk to the market is that with the S&P 500 hitting a new record high at the end of last week, with Treasury yields more becalmed, and with a new tax cutting bill, it’s possible that the Trump Administration feels emboldened to be aggressive again. On Friday the US announced that they were stopping trade talks with Canada in retaliation for their digital service taxes and that new tariffs would be launched within a week. However, overnight Canada has dropped this tax to enable talks to restart. This is perhaps a warning shot for the world. So before next Wednesday a lot of water will flow under the global trade bridge.
As noted at the top there is still a fair amount to get through this week first and we’ll now go through a few of the main highlights of the week ahead, but remember the full day-by-day calendar is at the end as usual.
For payrolls, DB expects the headline number (+100k forecast vs. +139k previously) to be slightly below the consensus of +113k, with a similar story for private payrolls (DB +100k, consensus +110k, vs. +140k previously). This would also be below the three-month average of 135k and 133k, respectively. Their rationale is based on 1) initial jobless claims being up 8.8% during the June survey week relative to May; and 2) their observation of a recent pattern of subdued summer payroll gains. They also expect the unemployment rate to edge up a tenth to 4.3% but with the risks skewed to it staying unchanged.
Although 100k on payrolls seems low, our economists think the breakeven rate which keeps the unemployment rate steady, is around 100k at the moment and could even be as low as 50k given the Trump Administrations’ migration policies. If correct we could have a situation where low payroll growth still tightens the labour market. See US Economic Perspectives: Potential paths for breakeven employment for more on this.
Leading up to payrolls we have JOLTS tomorrow, ADP on Wednesday and also watch out for the employment components in today’s Chicago PMI, tomorrow’s manufacturing ISM, and Wednesday’s Services ISM.
In Europe, the big event will be the ECB’s forum on central banking in Sintra running from today through to Wednesday. The policy panel tomorrow will feature heads of the Fed, the ECB, the BoJ, the BoE and the BoK. So plenty of potential headlines there. The ECB will also release its account of the June policy meeting on Thursday and their consumer expectations survey is due tomorrow. Elsewhere in Europe, the BoE will publish its DMP, bank liabilities and credit conditions surveys on Thursday.
In terms of European data, June CPI will continue to be in focus after Friday’s prints for France and Spain showed a slight uptick in inflation. Reports for Germany and Italy are out today, with the Eurozone-wide release scheduled for tomorrow. Swiss inflation data is due on Thursday. We also have May German retail sales (today) and factory orders (Friday), Italian retail sales and French IP on Friday.
In Japan the BoJ’s Q2 Tankan survey results come out tomorrow with our economists forecasting that the business condition index for large manufacturers in the Tankan survey will worsen -3 points to +9. They expect a similar gauge for large non-manufacturers to slip -2 points to +33. This could be one of a few factors that help influence whether the BoJ hikes again in July, although there’s lots of moving parts at the moment including trade agreements with the US. Asian equity markets are predominantly trading higher this morning. The Nikkei (+1.64%) is standing out, with the index surging to near a one-year peak, propelled by technology stocks. The KOSPI (+0.69%) and the S&P/ASX 200 (+0.52%) are also higher. Chinese stocks are more mixed with the Hang Seng (-0.56%) trading lower, the CSI (-0.02%) flat, but the Shanghai Composite (+0.20%) edging up. S&P 500 (+0.41%) and NASDAQ 100 (+0.57%) futures are both pretty firm for this time of day.
Early morning data indicated that China’s manufacturing sector contracted for the third consecutive month in June, although at a slightly slower pace than anticipated. The official manufacturing PMI rose to 49.7 in June (49.6 expected) from the previous month’s 49.5. However, the non-manufacturing PMI accelerated a touch, increasing to 50.5 in June, exceeding expectations that it would remain stable at 50.3. Consequently, China’s Composite PMI improved to 50.7 in June from 50.4 in May.
In other news, Japan’s industrial output fell significantly short of expectations, with a mere +0.5% month-on-month increase compared to the expected +3.4% growth. Although production saw improvements in critical sectors such as machinery and automobiles, five categories—led by non-auto transport equipment—experienced declines.
Recapping last week now and markets were in a buoyant mood, with the S&P 500 rising +3.44% to a new all-time high of 6,173 (+0.52% on Friday) as we closed out the week. Tech stocks outperformed, with the NASDAQ (+4.25%, +0.52% Friday) advancing every day last week to a new high of its own. In Europe, the STOXX 600 (+1.32%) posted a modest weekly gain, with the DAX (+2.90%) outperforming, led by German defense companies. And in Japan, the Nikkei had its best week of 2025 so far, up +4.55% (+1.43% on Friday).
The positive mood started with the de-escalation in the Middle East after Trump announced Monday evening that Israel and Iran agreed on a “Complete and Total CEASEFIRE.” Following this, Brent crude saw its biggest weekly decline since 2022, down -12.00% to $67.77/bbl (+0.06% Friday). Meanwhile, gold fell -2.79% on the back of declining geopolitical risk (-1.61% Friday).
Last week’s upbeat tone was also helped by rising expectations of Fed rate cuts despite decent economic data. The positive data included the flash US PMIs for June (52.8 vs. 52.2 expected) and Friday’s UoM consumer survey, that saw current conditions rebound to a four-month high. On the softer side, we saw higher continuing jobless claims (+1,974k vs +1,950k expected) on Thursday and an unexpected drop in May real personal spending (-0.3% vs. 0.0% expected) on Friday.
Lower oil prices and comments from Michelle Bowman, the Fed’s Vice Chair for Supervision, saw pricing of a July rate cut rise as high as 25% on Wednesday, though it was down to 19% by Friday following a slightly stronger (2.7% vs. 2.6% expected) US core PCE inflation print. Still, the next Fed rate cut is now fully priced by September and 64bps of easing is priced by December (+12.7bps on the week). In turn, Treasury yields moved lower, with the 2yr down -16.0bps (+2.9bps Friday) to 3.75%, its lowest since early April, while the 10yr yield was down -9.9bps to 4.28% (+3.6bps Friday). Treasuries were also supported by the Fed announcing a planned easing of banks’ Supplementary Leverage Ratio.
By contrast In Europe, 10yr bund yields rose +7.4bps to 2.59% (+2.2bps Friday) as the German government unveiled a faster-than-expected ramp up of its fiscal stimulus. However, OATs (+1.7bps) and BTPs (-2.4bps) saw smaller moves, with the 10yr BTP-bund spread falling to its lowest level since 2015 at 88bps. The contrasting rates moves on the two sides of the Atlantic saw EURUSD rise +1.69% on the week to 1.1718, its highest level since September 2021.
2b European opening report
US futures bolstered as Reconciliation Bill progresses, however July tariff deadline looms – Newsquawk US Market Open
Monday, Jun 30, 2025 – 06:32 AM
A firmer start to the week Stateside, ES +0.4%, as markets focus on the progress of Trump’s Bill; however, Europe is more contained, Stoxx 600 +0.1%, as the reciprocal deadline nears.
US Senate voted to begin debating the Reconciliation Bill; vote-a-rama not expected to start until 09:00ET today, as such the House will not vote until Wednesday at the earliest, via Fox’s Pergram.
DXY has kicked off week-, month-, quarter- & H1-end on a mildly negative footing, though the magnitude of this has dissipated across the morning. EUR contained, JPY outperforms, GBP softer.
Fixed benchmarks were contained overnight before EGBs picked up on numerous German data points.
Crude benchmarks are in the red but only modestly so, updates continue on the geopolitical front, with Trump saying he is not offering Iran anything.
Looking ahead, highlights include US Chicago PMI, Speakers including ECB’s de Guindos & Lagarde, Fed’s Bostic & Goolsbee.
US President Trump announced on Friday that the US is stopping trade talks with Canada due to the latter putting a digital services tax on US tech companies. However, it was reported a few days later that Canada rescinded the Digital Services Tax to advance broader trade negotiations with the US, while PM Carney and US President Trump agreed that parties will resume negotiations with a view towards agreeing on a deal by July 21st.
US President Trump said in an interview with Fox Business News, which aired on Sunday, that Japan takes in no American cars and its vehicles should be subject to a 25% auto tariff in the US.
UK government said the UK-US trade deal has today come into force, slashing US export tariffs for the UK’s automotive and aerospace sectors, while it added that UK car manufacturers can now export to the US under a reduced 10% tariff quota and that 10% tariffs on goods like aircraft engines and aircraft parts are removed with a commitment to maintain them at 0%.
Canada acted to support its steel producers and workers in which it set new tariff rate quotas for steel mill product imports from non-FTA partners.
China Customs said it resumed imports of qualified aquatic products from some Japanese regions.
Indonesia is to ease import restrictions on some goods including forestry products, plastic materials and some fertilisers, while it offered the US to jointly invest in the Brownfield Project of critical minerals in Indonesia as part of tariff talks.
Bank for International Settlements said the global economy and financial system have entered a new era of heightened uncertainty, while it added that rising protectionism and trade fragmentation are particularly concerning.
EU Competition Commissioner Ribera say, on a EU-US deal, “We will not compromise … around sovereignty and around regulation on how to work in our own market,”, via Politico citing excerpts from The Capitol Forum.
Japan’s Tariff negotiator says they will continue working with the US to reach a tariff agreement, while defending national interests. Continuation of 25% auto tariffs would cause significant damage.
EUROPEAN TRADE
EQUITIES
European bourses kicked off the first trading session of the week with modest gains following the upside on Wall Street, in which the sentiment reverberated into APAC markets before reaching Europe; Stoxx 600 +0.1%. However, gains are modest and benchmarks are gradually dipping into the red with traders cognisant of the looming July 9th reciprocal deadline.
Sectors opened firmer with just Energy in the red, though the picture since has become more mixed but with the breadth of price action narrow. Focus on reports that US tariff policies coupled with low river levels are causing the worst supply chain congestion since COVID, according to FT. Issues at the ports of Rotterdam, Antwerp, and Hamburg are expected to last for several months.
Stateside, futures in the green, ES +0.4%, NQ +0.5%; supported by compromises on the trade and fiscal fronts. Banks are firmer in the pre-market after they cleared Fed stress tests late-Friday. Docket ahead dominated by speakers, Treasury Secretary Bessent, Fed’s Bostic & Goolsbee all before POTUS’ latest executive order signing.
UK CMA says Boeing (BA)/Spirit AeroSystems (SPR) merger deadline is August 28th for phase 1 decision.
DXY has commenced the week, month-end, quarter-end and half-year-end off on a mildly negative footing after a run of five consecutive losses last week. Down to a 96.97 low at worst, while the benchmark remains in the red it has managed to reclaim the figure, but remains shy of the earlier 97.299 peak. For reference, the mentioned session low is another multi-year trough.
EUR contained. EUR/USD faded out initial gains, peaked at 1.1750, just before Friday’s 1.1753 multi-year peak. Focus on the inflation front, though no significant move to German State or Italian prelim CPI thus far, with near term focus firmly on the trade agenda.
JPY tops the G10 leaderboard. USD/JPY as low as 143.79, is now back to the 144.00 mark but someway shy of the 144.76 peak.
Sterling marginally softer vs both the EUR and USD. Incremental drivers for the UK light, though today sees the UK-US deal come into force. Cable currently contained within Friday’s 1.3683-1.3752 range.
Antipodeans benefitting from the constructive risk tone and after the PBoC set a firmer Yuan reference rate overnight.
PBoC set USD/CNY mid-point at 7.1586 vs exp. 7.1681 (Prev. 7.1627).
South Africa’s DA Party leader said the Democratic Alliance will withdraw from national dialogue with immediate effect and is in the process of losing confidence in the President’s ability to lead the government.
Contained overnight ahead of a busy and front-loaded week. Focus remains firmly on the trade and fiscal fronts; awaiting the reciprocal deadline and monitoring the Reconciliation Bills Senate passage respectively.
While pertinent, the above developments have not changed the macro picture just yet with USTs in the green by just a handful of ticks within a narrow 111-22 to 112-00+ band, a range that is almost a repeat of Friday’s 111-22+ to 112-02 parameter.
Bunds are firmer on the session, began in the green and lifted on the morning’s German data points of Import Prices and Retail Sales. Thereafter, State CPIs printed and while the metrics were mixed the overall skew was cooler-than-previous, defying consensus for a mainland uptick, lifting Bunds to a 130.52 peak.
Gilts in the green as well, largely following suit to the above price action in Bunds and USTs. Newsflow lighter domestically as the scale of Labour rebellion to PM Starmer’s Welfare Bill appears to have moderated significantly after the u-turn on Friday. While firmer, Gilts remain shy of the 93.36 peak on Friday and by extension last week’s 93.57 high.
Spanish Economy Minister says we should work to increase the supply of EUR-denominated assets such as joint EU debt issued to finance defence spending.
Crude benchmarks in the red but only modestly so with losses of c. USD 0.20/bbl, after a slightly choppy morning. Began the APAC session subdued given an absence of significant weekend newsflow. This morning, prices found a floor shortly after US President Trump posted that he is not offering Iran anything, and is not talking to Iran since destroying their nuclear sites.
WTI resides in a USD 64.50-65.45/bbl range while its Brent counterpart trades in a USD 65.92-66.87/bbl range.
Spot gold is firmer amid the Dollar softness and ahead of upcoming risk events. XAU stopped just shy of USD 3,300/oz this morning after rising from a USD 3,244/oz base.
Copper futures are subdued with a similar performance to APAC seen in Europe amid the mixed risk appetite; overnight, the latest Chinese PMI data showed Manufacturing PMI remained in contraction territory despite the US-China trade truce, possibly also weighing on sentiment for the red metal.
Israel’s Oil Refineries said it resumed partial operation of refining activity in Haifa after damage caused by an Iranian missile during the Israel-Iran war, with full operation expected by October.
Smoke arose from Iran’s Tabriz refinery, which was caused by a nitrogen tank explosion, although there were no casualties from the incident.
German State CPIs: Overall, the metrics were somewhat mixed with Baden Wurttemberg coming in above the prior as did the lower-Saxony M/M, prints that are in-fitting with the forecast for an uptick in the mainland figures. However, the other metrics came in cooler than the prior with the M/M for Bavaria and North Rhine-Westphalia both negative prints (-0.1%).
UK Mortgage Approvals (May) 63.032k vs. Exp. 59.75k (Prev. 60.463k, Rev. 60.656k); Lending 2.054B GB vs. Exp. 2.5B GB (Prev. -0.759B GB, Rev. -0.776B GB)
UK M4 Money Supply (May) 0.2% (Rev. -0.1%)
NOTABLE EUROPEAN HEADLINES
UK launches the biggest financial advice shakeup in more than a decade with the regulator unveiling plans for targeted support to help individuals get better returns, according to FT.
ECB’s de Guindos says they are confronting “brutal uncertainty”; Q2, Q3 growth will be almost flat; Consumption as a driver has not happened; must keep all rate options open because of uncertainty.
ECB updates its monetary policy strategy: Governing Council confirms symmetric 2% inflation target over the medium term; Symmetry requires appropriately forceful or persistent policy response to large, sustained deviations of inflation from target in either direction; all tools remain in toolkit and their choice, design and implementation will enable an agile response to new shocks; structural shifts such as geopolitical and economic fragmentation and increasing use of artificial intelligence make the inflation environment more uncertain.
NOTABLE US HEADLINES
US President Trump’s sweeping tax cut and spending bill cleared the first US Senate hurdle on Saturday with a 51-49 vote to open the debate on the bill, which raises the odds of passage in the coming days, while US President Trump commented that there was a great victory in the Senate with the “great big, beautiful bill”.
Non-partisan US Congressional Budget Office said the Senate version of the Trump tax bill will add USD 3.3tln to US debt over the next decade.
Elon Musk posted on X that the latest Senate draft bill will destroy millions of jobs in America and cause immediate strategic harm to the country, while he added it is utterly insane and destructive, as well as gives out handouts to industries of the past while severely damaging industries of the future.
Fox’s Pergram says “Senate not expected to begin vote-a-rama until 9 am et on Big, Beautiful Bill. Most vote-a-ramas run 9 to 15 hours. House not expected to vote until Wednesday at the earliest“
Fed Stress Test results on Friday showed large banks are well-positioned to weather a severe recession in 2025, and that all 22 banks passed.
US President Trump posts “ONE GREAT BIG BEAUTIFUL BILL, is moving along nicely!”.
US President Trump posts “The Trump Administration has gotten costs down, very substantially, for the American Consumer. There has never been anything like this!”
Fed’s Bostic (2027 voter, Hawk) says this could be a more extended [pause] period than people think, via CNBC. Businesses tell the Fed they don’t have plans to lay people off. There is some optimism amongst business leaders
GEOPOLITICS
MIDDLE EAST
Israel’s army said it identified the launch of a missile from Yemen on Saturday.
Egyptian Foreign Minister said work is underway on an upcoming agreement in Gaza that includes a 60-day truce, according to Alhadath via X.
US President Trump said Israeli PM Netanyahu is in the process of negotiating a deal with Hamas to get hostages back.
US President Trump said he knew exactly where Iran’s Supreme Leader Khamenei was sheltered and would not let Israel or US armed forces terminate his life, while Trump said he demanded that Israel bring back a very large group of planes that were headed directly to Tehran in the final act of the war. Furthermore, Trump said he was working on the possible removal of sanctions in the last few days and other things which would have given Iran a much better chance at a recovery but warned that Iran has to get back into the world order flow or things will only get worse for them.
US justified its strikes on Iran as collective self-defence under the UN Charter in a letter to the UN Security Council and said the objective was to destroy Iran’s nuclear enrichment capacity and stop the threat that Tehran obtains and uses a nuclear weapon, while it added that the US remains committed to pursuing a deal with the Iranian government.
IAEA chief Grossi said Iran has the capacity to start enriching uranium again for a possible bomb in a matter of months, according to BBC.
Iran’s Foreign Minister said if US President Trump is genuine about wanting a deal, he should put aside the disrespectful and unacceptable tone towards Iran’s Supreme Leader.
Iran’s Armed Forces Chief of Staff Mousavi told Saudi Arabia’s Defence Minister that they highly doubt Israel’s commitment to the ceasefire, according to Tasnim.
Iran permitted the transiting of international flights over the centre and west of the country. In relevant news, Emirates cancelled all flights to and from Tehran until July 5th due to the regional situation, while it is to recommence operations to Baghdad on July 1st and Basra on July 2nd.
US President Trump says he is not offering Iran anything, and is not talking to Iran since destroying their nuclear sites.
“A source involved in the negotiations for a ceasefire in Gaza told the pro-Qatari news website Arabi 21 this morning that it is believed that an Israeli delegation will arrive in Cairo in the next two days”, according to Israeli Radio’s Kai.
Iran’s MFA spokesperson Baghaei says Iran and the EU have not agreed on a date for the next round of discussions. Talks are ongoing with the E3.
RUSSIA-UKRAINE
Russia said its troops captured Novoukrainka in eastern Ukraine, according to RIA.
US President Trump said on Friday that he may send patriot missiles to Ukraine and commented that he will get the conflict solved with North Korea’s leader Kim.
OTHER
India’s Ministry of External Affairs said they have seen and rejected the official statement by the Pakistan Army seeking to blame India for the attack in Waziristan on June 28th.
CRYPTO
A firmer start for Bitcoin, continuing the bullish trend that has been in play over the last eight sessions. However, BTC is yet to reapproach the USD 11k mark from early-June.
APAC TRADE
APAC stocks began the week mostly in the green following last Friday’s record highs on Wall St but with some of the gains capped heading into month-end and as participants digested a slew of data including somewhat mixed Chinese PMIs.
ASX 200 edged higher with strength in the defensive sectors but with upside limited by data including softer-than-expected private sector credit.
Nikkei 225 outperformed despite disappointing Industrial Production data which showed a surprise Y/Y contraction and with the index also unfazed by recent comments from US President Trump who noted that Japanese vehicles should be subject to a 25% auto tariff in the US.
Hang Seng and Shanghai Comp were mixed following the latest PMI data which showed headline Manufacturing PMI remained in contraction territory, as expected, although Non-Manufacturing PMI accelerated at a faster pace than forecast.
NOTABLE ASIA-PAC HEADLINES
US officials are drawing up plans for US President Trump’s state visit to China later this year with a delegation of dozens of CEOs, according to Nikkei.
US President Trump said they have a buyer for TikTok and that it is a group of very wealthy people.
Canada’s Industry Minister ordered Hikvision (002415 CH) to cease all operations and close its business in the country after a national security review.
Japanese government official said regarding factory output that sentiment among manufacturers is worsening over uncertainties in the production environment and the number of firms concerned about the impact of US tariffs on production and shipments slightly increased in May from April.
DATA RECAP
Chinese NBS Manufacturing PMI (Jun) 49.7 vs. Exp. 49.7 (Prev. 49.5); Non-Mfg PMI (Jun) 50.5 vs. Exp. 50.3 (Prev. 50.3)
Chinese Composite PMI (Jun) 50.7 (Prev. 50.4)
Japanese Industrial Production MM SA (May P) 0.5% vs. Exp. 3.5% (Prev. -1.1%); YY SA (May P) -1.8% vs. Exp. 1.6% (Prev. 0.5%)
Australian Private Sector Credit (May) 0.5% vs Exp. 0.7% (Prev. 0.7%)
New Zealand ANZ Business Outlook (Jun) 46.3% (Prev. 36.6%); Own Activity (Jun) 40.9% (Prev. 34.8%)
2c Asian opening report
Canada resumes trade negotiations with the US & Senate set to vote on tax bill – Newsquawk Europe Market Open
Monday, Jun 30, 2025 – 01:15 AM
APAC stocks began the week mostly in the green following last Friday’s record highs on Wall St; participants digested a slew of data including mixed Chinese PMIs.
US and Canada agreed to resume negotiations with a view towards reaching a deal by July 21st after Canada rescinded the Digital Services Tax.
The Senate is set to vote on Trump’s sweeping tax cut and spending bill on Monday following a 51-49 vote to open the debate on the bill.
European equity futures indicate a positive open with Euro Stoxx 50 future up 0.3% after the cash market closed with gains of 1.6% on Friday.
DXY has kicked the week off on the backfoot but holding above Friday’s low, JPY outperforms, EUR/USD sits on a 1.17 handle.
Looking ahead, highlights include UK GDP (Q1 final), German Import Prices, Retail Sales & CPI, Italian CPI, US Chicago PMI, ECB’s de Guindos & Lagarde, Fed’s Bostic & Goolsbee.
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
US TRADE
EQUITIES
US stocks gained on Friday in which the S&P 500 and Nasdaq printed record intraday and closing highs with outperformance in the Consumer Discretionary sector which was led by Nike (NKE) after earnings and revenue guidance topped expectations, and it signalled a plan to reduce exposure to China amid the trade tensions. Nonetheless, there was a bout of pressure seen in the latter part of the session amid trade frictions after President Trump terminated trade discussions with Canada over their Digital Services Tax on US tech.
SPX +0.52% at 6,173, NDX +0.39% at 22,534, DJI +1.00% at 43,819, RUT +0.02% at 2,173.
US President Trump said on Friday that Europe has been very tough on trade and said they have a good relationship but it is a tough situation, while he added that the US has the cards regarding trade with Europe and the problem is that Europe has a lot of taxes and that they sue US companies. Trump also commented that Canada is difficult to deal with and that the US has all the cards and has such power over Canada.
US President Trump announced on Friday that the US is stopping trade talks with Canada due to the latter putting a digital services tax on US tech companies. However, it was reported a few days later that Canada rescinded the Digital Services Tax to advance broader trade negotiations with the US, while PM Carney and US President Trump agreed that parties will resume negotiations with a view towards agreeing on a deal by July 21st.
US President Trump said on Friday that they are in the process of making trade deals and at a certain point over the next week, they will send out letters to countries to tell them what they have to pay. Trump also said he wants full trade barriers dropped with India and thinks they’ll reach a deal with India, while it was separately reported that Trump said he doesn’t expect to extend the July 9th tariff deadline.
US President Trump said in an interview with Fox Business News, which aired on Sunday, that Japan takes in no American cars and its vehicles should be subject to a 25% auto tariff in the US.
UK government said the UK-US trade deal has today come into force, slashing US export tariffs for the UK’s automotive and aerospace sectors, while it added that UK car manufacturers can now export to the US under a reduced 10% tariff quota and that 10% tariffs on goods like aircraft engines and aircraft parts are removed with a commitment to maintain them at 0%.
Canada acted to support its steel producers and workers in which it set new tariff rate quotas for steel mill product imports from non-FTA partners.
China Customs said it resumed imports of qualified aquatic products from some Japanese regions.
Indonesia is to ease import restrictions on some goods including forestry products, plastic materials and some fertilisers, while it offered the US to jointly invest in the Brownfield Project of critical minerals in Indonesia as part of tariff talks.
Bank for International Settlements said the global economy and financial system have entered a new era of heightened uncertainty, while it added that rising protectionism and trade fragmentation are particularly concerning.
NOTABLE HEADLINES
US President Trump’s sweeping tax cut and spending bill cleared the first US Senate hurdle on Saturday with a 51-49 vote to open the debate on the bill, which raises the odds of passage in the coming days, while US President Trump commented that there was a great victory in the Senate with the “great big, beautiful bill”.
Non-partisan US Congressional Budget Office said the Senate version of the Trump tax bill will add USD 3.3tln to US debt over the next decade.
Elon Musk posted on X that the latest Senate draft bill will destroy millions of jobs in America and cause immediate strategic harm to the country, while he added it is utterly insane and destructive, as well as gives out handouts to industries of the past while severely damaging industries of the future.
Fed Stress Test results on Friday showed large banks are well-positioned to weather a severe recession in 2025, and that all 22 banks passed.
APAC TRADE
EQUITIES
APAC stocks began the week mostly in the green following last Friday’s record highs on Wall St but with some of the gains capped heading into month-end and as participants digested a slew of data including somewhat mixed Chinese PMIs.
ASX 200 edged higher with strength in the defensive sectors but with upside limited by data including softer-than-expected private sector credit.
Nikkei 225 outperformed despite disappointing Industrial Production data which showed a surprise Y/Y contraction and with the index also unfazed by recent comments from US President Trump who noted that Japanese vehicles should be subject to a 25% auto tariff in the US.
Hang Seng and Shanghai Comp were mixed following the latest PMI data which showed headline Manufacturing PMI remained in contraction territory, as expected, although Non-Manufacturing PMI accelerated at a faster pace than forecast.
US equity futures (ES +0.4%, NQ +0.6%) extended on last week’s advances as the attention turns to trade negotiations and Trump’s megabill which narrowly passed the procedural vote at the Senate.
European equity futures indicate a positive open with Euro Stoxx 50 future up 0.3% after the cash market closed with gains of 1.6% on Friday.
FX
DXY traded lower ahead of a slew of key releases this week culminating in the latest US non-farm payrolls data which will be released on Thursday due to the Independence Day holiday and with the focus also on Congress with the Senate set to vote on Trump’s sweeping tax cut and spending bill on Monday after it cleared the procedural vote on Saturday. Furthermore, the trade front remains tumultuous after President Trump announced on Friday that the US is stopping trade talks with Canada due to the latter putting a digital services tax on US tech companies although the sides have since agreed to resume negotiations with a view towards reaching a deal by July 21st after Canada rescinded the Digital Services Tax.
EUR/USD was uneventful amid quiet catalysts and as several key data releases loom, while participants also await a slew of key central bank speakers scheduled at the ECB’s Sintra Forum this week including Fed Chair Powell, BoE Governor Bailey, ECB President Lagarde and BoJ Governor Ueda.
GBP/USD lacked direction ahead of GDP data and with a muted reaction seen to the latest UK Lloyds Business Barometer which printed its highest since 2015.
USD/JPY retreated despite the outperformance in Japanese stocks and disappointing Industrial Production data from Japan.
Antipodeans benefited from the mostly constructive risk appetite and after the PBoC set a firmer CNY reference rate.
PBoC set USD/CNY mid-point at 7.1586 vs exp. 7.1681 (Prev. 7.1627).
South Africa’s DA Party leader said the Democratic Alliance will withdraw from national dialogue with immediate effect and is in the process of losing confidence in the President’s ability to lead the government.
FIXED INCOME
10yr UST futures were little changed following relatively quiet newsflow from the US over the weekend aside from President Trump’s sweeping tax cut and spending bill clearing the first US Senate hurdle on Saturday with a 51-49 vote which sets the stage for a vote-a-rama on the Trump megabill on Monday.
Bund futures remained afloat and got some mild reprieve after last week’s selling pressure but with the rebound contained ahead of a slew of German data including Retail Sales and CPI figures.
10yr JGB futures languished at a weekly trough amid the outperformance in Japanese stocks and despite the disappointing Industrial Production data from Japan.
COMMODITIES
Crude futures initially retreated before clawing back some of the losses amid quiet energy-specific catalysts and following a lack of any major geopolitical escalation from over the weekend, while participants digested a slew of data releases and awaited approaching key events including the OPEC+ meeting later this week with producers said to be likely to make another oil output hike of 411k BPD for August.
Israel’s Oil Refineries said it resumed partial operation of refining activity in Haifa after damage caused by an Iranian missile during the Israel-Iran war, with full operation expected by October.
Smoke arose from Iran’s Tabriz refinery, which was caused by a nitrogen tank explosion, although there were no casualties from the incident.
Spot gold traded indecisively and ultimately recovered from an early dip to return to flat territory heading into month-end and a slew of data.
Copper futures lacked firm demand amid the mixed risk appetite seen in Greater China following the latest Chinese PMI data which showed Manufacturing PMI remained in contraction territory despite the US-China trade truce.
CRYPTO
Bitcoin traded rangebound with price action stuck near the USD 108,500 level.
NOTABLE ASIA-PAC HEADLINES
US officials are drawing up plans for US President Trump’s state visit to China later this year with a delegation of dozens of CEOs, according to Nikkei.
US President Trump said they have a buyer for TikTok and that it is a group of very wealthy people.
Canada’s Industry Minister ordered Hikvision (002415 CH) to cease all operations and close its business in the country after a national security review.
Japanese government official said regarding factory output that sentiment among manufacturers is worsening over uncertainties in the production environment and the number of firms concerned about the impact of US tariffs on production and shipments slightly increased in May from April.
DATA RECAP
Chinese NBS Manufacturing PMI (Jun) 49.7 vs. Exp. 49.7 (Prev. 49.5)
Chinese NBS Non-Mfg PMI (Jun) 50.5 vs. Exp. 50.3 (Prev. 50.3)
Chinese Composite PMI (Jun) 50.7 (Prev. 50.4)
Japanese Industrial Production MM SA (May P) 0.5% vs. Exp. 3.5% (Prev. -1.1%)
Japanese Industrial Production YY SA (May P) -1.8% vs. Exp. 1.6% (Prev. 0.5%)
Australian Private Sector Credit (May) 0.5% vs Exp. 0.7% (Prev. 0.7%)
New Zealand ANZ Business Outlook (Jun) 46.3% (Prev. 36.6%)
New Zealand ANZ Own Activity (Jun) 40.9% (Prev. 34.8%)
GEOPOLITICS
MIDDLE EAST
Israel’s army said it identified the launch of a missile from Yemen on Saturday.
Egyptian Foreign Minister said work is underway on an upcoming agreement in Gaza that includes a 60-day truce, according to Alhadath via X.
US President Trump said Israeli PM Netanyahu is in the process of negotiating a deal with Hamas to get hostages back.
US President Trump said he knew exactly where Iran’s Supreme Leader Khamenei was sheltered and would not let Israel or US armed forces terminate his life, while Trump said he demanded that Israel bring back a very large group of planes that were headed directly to Tehran in the final act of the war. Furthermore, Trump said he was working on the possible removal of sanctions in the last few days and other things which would have given Iran a much better chance at a recovery but warned that Iran has to get back into the world order flow or things will only get worse for them.
US justified its strikes on Iran as collective self-defence under the UN Charter in a letter to the UN Security Council and said the objective was to destroy Iran’s nuclear enrichment capacity and stop the threat that Tehran obtains and uses a nuclear weapon, while it added that the US remains committed to pursuing a deal with the Iranian government.
IAEA chief Grossi said Iran has the capacity to start enriching uranium again for a possible bomb in a matter of months, according to BBC.
Iran’s Foreign Minister said if US President Trump is genuine about wanting a deal, he should put aside the disrespectful and unacceptable tone towards Iran’s Supreme Leader.
Iran’s Armed Forces Chief of Staff Mousavi told Saudi Arabia’s Defence Minister that they highly doubt Israel’s commitment to the ceasefire, according to Tasnim.
Iran permitted the transiting of international flights over the centre and west of the country. In relevant news, Emirates cancelled all flights to and from Tehran until July 5th due to the regional situation, while it is to recommence operations to Baghdad on July 1st and Basra on July 2nd.
RUSSIA-UKRAINE
Russia said its troops captured Novoukrainka in eastern Ukraine, according to RIA.
US President Trump said on Friday that he may send patriot missiles to Ukraine and commented that he will get the conflict solved with North Korea’s leader Kim.
OTHER
India’s Ministry of External Affairs said they have seen and rejected the official statement by the Pakistan Army seeking to blame India for the attack in Waziristan on June 28th.
EU/UK
NOTABLE HEADLINES
UK launches the biggest financial advice shakeup in more than a decade with the regulator unveiling plans for targeted support to help individuals get better returns, according to FT.
DATA RECAP
UK Lloyds Business Barometer (Jun) 51 (Prev. 50); highest since 2015.
3 .ASIA
3A NORTH KOREA/SOUTH KOREA
3B JAPAN
3C CHINA
CHINA/USA
4.European affairs
GERMANY
9 Underage Girls Sexually Abused By Syrians At Swimming Pool, Mayor Points To ‘Hot Weather’
After underage girls were sexually assaulted in the Barbarossabad swimming pool in Gelnhausen, the CDU mayor of the area pointed out that “hot weather” makes tempers “fray.”
However, local Mayor Christian Litzinge (CDU) appeared to allude that the weather is at least partly to blame for the incident.
In a statement to Welt, he said: “Of course, it’s always high temperatures, and sometimes tempers are frayed.”
In a separate interview with Bild, he said, “We have zero tolerance for that.”
As Remix News previously reported, the first group of girls were groped and molested by the group of Syrians, but when they complained to a lifeguard, he took no action.
“Since we couldn’t see exactly what had happened, we sent the girls back into the water,” pool manager Nils Tischer explained to Hessischer Rundfunk.
It was only after more girls made a complaint from separate groups that the police were called.
In total, at least nine girls came forward, ranging in age from 11 to 17.
The girls told authorities that the four Syrians, aged 18 to 28, groped them in the lazy river, feeling them all over their bodies, including their genitals. A fifth suspect managed to escape, and police are still looking for him.
According to Mayor Christian Litzinger (CDU), all four suspects are from the same family in the Main-Kinzig district.
They were all arrested and charged, in addition to receiving a ban from the outdoor pool.
Alice Weidel, the Alternative for Germany (AfD) co-leader, also posted about the incident on social media, calling for “immediate deportations” in the case.
Sexuelle Belästigung von Mädchen: Gleich 9 Opfer zeigten sexuelle Übergriffe an, eine Gruppe "syrischer Staatsangehöriger" soll die Taten in einem Freibad im CDU-regierten Hessen begangen haben. Sofortige Ausweisung der Täter veranlassen! #DeshalbAfDpic.twitter.com/jtVkT7AeHI
Attempts to downplay the problems in German swimming pools
Litzinger’s comments echo some other “excuses” offered for sexual violence and assaults from migrants at Germany’s once peaceful swimming pools. An article in 2023 from Zeit attempted to claim that much of the violence and sexual assaults were due to rising French fry prices.
At the time, Alice Weidel, co-leader of the Alternative for Germany (AfD), criticized the claim.
“Zeit blames ‘French fry prices’ for violence and sexual assaults in outdoor pools, ZDF claims an interplay of heat and the meeting of many people, Deutschlandfunk writes about too high ‘expectations’ that cannot be met. The degree to which the media trivializes migration problems no longer knows any limits,” wrote Alice Weidel, parliamentary leader of the AfD party.
Just a week before that statement, the actual workers at the swimming pools offered an entirely different reason for the increasing violence. Employees of the Columbiabad outdoor swimming complex in Berlin penned a letter to the Der Tagesspiegel newspaper complaining about perpetrators they describe as “mainly Arab migrants and Chechens” who are engaging in the sexual harassment of women and mass brawls on the premises, while also leaving the complexes in disgusting conditions. As a result, the entire pool was shut down for an indefinite period of time due to workers calling out sick from stress.
Remix News has long reported on the growing crime trend in German swimming pools, including mass brawls and sexual assaults, as well as attacks on police, security officials and even lifeguards working at the pools.
In 2022, Remix News covered how the president of the Federal Association of German Swimming Champions (BDS), Peter Harzheim, said he can no longer recommend that families visit such facilities on weekends. Harzheim claimed he would be “acting irresponsibly” if he attended an outdoor pool with his own three grandchildren due to violence and assaults, which the Remix News article details.
Some individuals have been seriously injured. Last year, for example, a woman had her nose broken when she was caught in the middle of a mass brawl involving foreigners.
In 2023, Welt released a popular video documentary detailing how “macho culture” from migrants was turning the swimming pools in Germany upside down.
Columbiadamm swimming pool in the multicultural neighborhood of Neukölln, Berlin, was closed down due to over 40 warring youths. Welt lays the blame squarely at the feet of “macho culture” from immigrant youth. In Pankow, a swimming pool had to be shut down twice in one week due to mass brawls between young people.
In the German city of Celle, 20 “rampaging youth” attacked swimmers and sexually assaulted them, including beating one female who rejected their advances. When lifeguards attempted to stop them, they threatened them as well. As a result, the entire swimming pool was shut down.
Israel tells Iran not to go back to Fordow and other nuclear sites
(JerusalemPost)
Mossad trolls Tehran: ‘We’re following you back,’ Israelis taunt Iran’s generals
The Mossad message cautioned ordinary Iranians: “You may keep watching our content, but for your own safety, please avoid following the page or reacting to our posts.”
Smartphone with logo of Israeli national intelligence agency Mossad in front of website.(photo credit: SHUTTERSTOCK)ByJERUSALEM POST STAFFJUNE 29, 2025 22:10
Israel’s Mossad disclosed Sunday that three of Iran’s most senior officials — including newly appointed Islamic Revolutionary Guard Corps (IRGC) commander Maj. Gen. Mohammad Pakpour — have been quietly monitoring the spy agency’s Persian-language X account.
In a Farsi-language post aimed at Iranians inside the Islamic Republic, the Israeli intelligence service wrote that “the respected gentlemen Pakpour, Mousavi and Araghchi are among our most loyal viewers,” adding that the trio log on using “second phones,” with two of them hiding behind private internet connections.
As “a gesture of appreciation,” the Mossad said it had decided to follow the officials back.
The message then cautioned ordinary Iranians: “You may keep watching our content, but for your own safety, please avoid following the page or reacting to our posts.” The agency promised to “continue providing important information” to its growing Persian-speaking audience.
Iranian spy in intelligence agency control room uses military tech to identify threats during Arab Israeli conflict. Mossad secret agent uses software to do war covert operations (credit: SHUTTERSTOCK)
Maj. Gen. Abdolrahim Mousavi – Appointed chief of staff of Iran’s armed forces the same day, filling another vacancy created by Israel’s June offensive.
Foreign Minister Abbas Araghchi – The veteran nuclear negotiator who took over Iran’s Foreign Ministry in August 2024 and has since led Tehran’s diplomacy during the Israel–Iran war.
All three men have publicly vowed revenge for Israel’s June strikes, yet the Mossad’s disclosure suggests they also track Israeli messaging online, a point the agency used to embarrass Tehran’s leadership.
The post is the latest salvo in the Mossad’s month-old digital outreach to Iranians. Earlier messages from the same account have offered VPN tips, telemedicine links, and even direct contact channels for whistleblowers, underscoring Israel’s strategy of separating the Iranian public from its rulers.
Israeli officials say engagement from inside Iran has surged since the June 24 cease-fire ended 12 days of open warfare. Millions of views have been recorded across Hebrew- and Farsi-language platforms, as Israel pushes the narrative that its fight is “with the regime, not the people.”
Iranian state media and the three officials named by Mossad had not responded publicly. In recent days, however, authorities have intensified online surveillance and arrested users accused of sharing “pro-Israel” content, highlighting the risks ordinary Iranians face when interacting with foreign accounts.
end
ISRAEL IRAN
Israel was facing destruction at the hands of Iran. This is how close it came, and how it saved itself
Iran was a decision and a few weeks away from nuclear weapons. But unlike Gaza 2023, Israel had been watching
Main image: A giant billboard depicting Muslim peoples walking with their national flags toward the Dome of the Rock shrine in Jerusalem is erected in Valiasr Square in the center of Tehran, October 25, 2023. (Atta Kenare / AFP)Share
The Iranian regime was increasingly convinced in recent months that it would soon be able to destroy Israel. The “Destruction of Israel” clock in Tehran’s Palestine Square was not an exercise in bravado. It was a public countdown to what the ayatollahs believed was Israel’s imminent demise, at their hands. Along with dismay that Yahya Sinwar had failed to consult and coordinate with them before invading southern Israel on October 7, 2023, the regime drew encouragement from the success of that massacre, its apparent confirmation of Israel’s profound vulnerability, and the ongoing instability it had caused.
Israel’s elimination, the regime delightedly, and rationally, assessed, was truly at hand.
And the truth is, apocalyptic as this certainly sounds, the assessment was reasonable.
That is the sober, honest judgment of the military and security chiefs who told Israel’s political leaders in recent months that Israel had to go to war against Iran, preferably in June and certainly not much later. That the end of 2025 would be too late. That it was now or never. That Iran was a decision and a few weeks away from nuclear weapons. And that the regime’s fast-growing ballistic missile capability was rapidly becoming an existential threat as well.
The political leadership listened. It was persuaded. It coordinated with the US administration.
And Israel indeed went to war. And saved itself.
On the way to Jerusalem
In Valiasr Square in October 2023, a giant banner was erected showing Muslim masses — under the flags of their countries, of Palestine, pre-rebel Syria, and of Iranian proxy terror groups — walking into the distance toward the Dome of the Rock shrine in the Al-Aqsa Compound atop Jerusalem’s Temple Mount. It was a representation of the liberation of Jerusalem from Zionist Jewish control, a liberation ostensibly now imminent in the wake of Hamas’s October 7 invasion and massacre in southern Israel.
A giant billboard depicting Muslim peoples walking with their national flags toward the Dome of the Rock shrine in Jerusalem is erected in Valiasr Square in the center of Tehran, October 25, 2023. (Atta Kenare / AFP)
In the aftermath of October 7, the Iranian regime accelerated its clandestine nuclear weapons program. It accelerated its ballistic missile production. It bolstered its air defenses. It directly attacked Israel for the first time, in April 2024, and fired another massive missile barrage in October.
While Israel publicly derided the potency of those attacks, it privately recognized Iran’s emboldening and the dangers posed by its missiles. And it watched with worried admiration as the regime’s military planners internalized and began to learn from the relative failure of the two sets of attacks, and from the nature of Israel’s military responses to them.
Iran’s Foreign Minister Abbas Araghchi speaks during a ceremony in tribute to slain Hezbollah leader Hassan Nasrallah in Tehran on November 9, 2024. (Iranian Foreign Ministry / AFP)
By late 2024, however, Iran was also losing ground as regards its proxies. Israel had eliminated its most important proxy leader, Hezbollah’s Sheikh Hassan Nasrallah, and massively degraded Hezbollah’s capabilities, both by detonating thousands of explosive-laced beepers on their Hezbollah owners and by devastating the terrorist army’s missile and rocket capabilities in much of Lebanon.
Hamas was still holding Israeli hostages in Gaza and resisting the IDF’s efforts to destroy its entire military and civil-rule capabilities, but it was a shadow of its 24-battalion former self.
Then came the fall of the Assad regime in Syria, and a rapid Israeli military response that prevented major military assets from falling into the hands of the new rebel regime and ensured that Israel held air supremacy there.
The regime in Tehran responded by further accelerating its efforts to attain the bomb. It expanded its stockpiles of 60% enriched uranium. It made significant progress on weaponization. Its key scientists were conducting tests and simulations that underlined how close they were to completing the program. In breach of international treaties, in breach of an ostensible fatwa against nuclear weapons, those scientists were working to enable a rapid breakout to the bomb.
An Iranian security official in protective clothing walks through a nuclear facility just outside the Iranian city of Isfahan, March 30, 2005. (Vahid Salemi/AP)
At the same time, Iran drastically bolstered its missile production capabilities. As Israel has publicly stated, Iran had built an arsenal of some 2,500 highly potent missiles, many with 1-ton warheads capable of immense devastation, and was on track to have 4,000 by March 2026. And 8,000 by 2027. A conventional missile threat was becoming an existential danger, capable of overwhelming Israel’s defenses, wreaking untenable death and destruction across Israel, and, if Israel was caught unawares, preventing the Israeli military from mustering an effective response.
Together with its thousands of drones, Iran was aiming, for instance, to target Israel’s air bases, ensuring that the air force simply couldn’t take off to fight back.
Despite the massive setback to Hezbollah, which it had relied upon to launch as many as 1,000-3,000 daily rockets and missiles at Israel come the hour, the regime was also confident that its ground invasion plans for Israel remained viable, with the potential for its proxies and their supporters to mirror Hamas’s invasion on most every front, including from Jordan. As National Security Adviser Tzachi Hanegbi has stated, the regime believed that its long-planned “Destruction of Israel” project via a multifront invasion, carried out amid a devastating missile and drone attack, was viable.
What was central to the realization of Iran’s goal, however, was that it strike first and take Israel by surprise.
The most dangerous man in Iran
Watching Iran with a far greater degree of intelligence penetration than the regime had realized, Israel’s military and security planners had in February 2025 received the green light from the political echelon to preempt.
Israel had been preparing to bomb Iran’s nuclear program for years, but had not consistently prioritized the potential imperative or allocated the necessary budget, especially after the Obama administration reached its JCPOA agreement with the regime, a flawed attempt to prevent Iran from attaining the bomb, in 2015.
The IDF had carried out an unprecedented drill in May 2023, simulating a multifront attack on Israel triggered by an Israeli strike on Iranian nuclear facilities. But it had only begun preparing in earnest in October 2024 for an attack that would deal not just with nuclear targets but also the ballistic missile enterprise, Iran’s air defenses and more.
The IDF pilots who participated in the Operation Opera bombing of Saddam Hussein’s nuclear reactor at Osirak in 1981. (Israel Defense Force archive)
Twice before — in Iraq in 1981, and Syria in 2007 — Israel had blown up its enemies’ nuclear weapons programs. But comparisons are inappropriate. Those were bold strikes on single nuclear reactors; this would be an assault of an entirely different order, against an enemy that thought it knew what was coming.
Top Iranian Cleric Issues Fatwah Calling For All Muslims To Seek Vengeance On US, Israel
Monday, Jun 30, 2025 – 09:05 AM
In a new fatwah which appears clearly aimed at the United States, Israel, and their respective leaders Donald Trump and Benjamin Netanyahu, a top Iranian Shia cleric has called on Muslims to take vengeance as Islamic ‘warriors’.
Ayatollah Naser Makarem Shirazi, a longtime prominent Shia religious authority, said in the new edict that any individual or government that threatens or assaults the the leaders of the Islamic Republic of Iran, and the Shia nation’s religious authority in an effort to harm the ‘Islamic Ummah’ and its governance is considered an enemy of Islam, or one who wages war against God.
Grand Ayatollah Makarem was reportedly responding in the edict to question put forward by his followers is as follows:
“Any person or regime that threatens the Leader or Marja (May God forbid) is considered an enemy of God,” Grand Ayatollah Makarem said in his Fatwa, according to Iranian state media.
His rank and authority within the Iranian religious establishment is at the highest level for a Twelver Shia religious cleric, under the Supreme Leader.
He added according to a translation that “any cooperation or support for that enemy by Muslims or Islamic states is haram or forbidden. It is necessary for all Muslims around the world to make these enemies regret their words and mistakes.”
He also described that if a Muslim who “does his duty suffers hardship or loss in their campaign, they will be rewarded a fighter in the way of God, God willing.”
While he didn’t specifically mention US President Trump in his fatwah, this is precisely how some are taking it.
IRAN: Grand Ayatollah tells “Muslims of world” to kill POTUS Trump.
Makarem Shirazi: “Anyone threatening or acting against Supreme Leader is Mohareb (enemy of Allah, designated for killing)… If harm comes to you in this mission, you will be recognized as (warriors) of Allah.” pic.twitter.com/nwofafw7Zp
The White House has already alleged there was a prior plot to assassinate Trump, in a case last year; however, Supreme Ayatollah Ali Khamenei has never actually directly called for the American leader’s death. But likely, more minor clerics within Iran have done so.
This past week Trump directed a series of Truth Social messages at the Khamenei. For example, he said “Look, you’re a man of great faith. A man who’s highly respected in his country. You have to tell the truth.” Trump then told Khamenei: “You got beat to hell.” This was of course in reference to the major B-2 bombing raids on Iran’s nuclear facility.
end
ISRAEL HAMAS
this is awful! I feel that Israel must make a deal fast, get the hostages out and then deal with Hamas
(JerusalemPost)
GHF discloses 12 American workers murdered by Hamas, others tortured in Gaza
GHF announced that twelve of its local staff have been murdered, and others have been tortured.
Palestinians collect aid supplies from the U.S.-backed Gaza Humanitarian Foundation, in Rafah, in the southern Gaza Strip, June 9, 2025.(photo credit: REUTERS/Hatem Khaled)ByJERUSALEM POST STAFFJUNE 30, 2025 00:11
The Gaza Humanitarian Foundation (GHF) disclosed that Hamas had placed bounties on American security workers in the Strip, and that twelve of the organization’s workers had been murdered, in its latest update on the situation in Gaza on Sunday.
GHF, an Israeli and US-backed NGO, began operating in the Strip in May to distribute humanitarian aid.
“Hamas has placed bounties on both our American security personnel and Palestinian aid workers—offering cash rewards to anyone who injures or kills them,” the Sunday GHF statement said.
GHF acknowledged the reports that the Hamas terror group has been targeting its personnel, staff, and aid workers.
It announced that twelve of its local staff have been murdered, and others have been tortured.
Palestinians gather to collect aid supplies from the U.S.-backed Gaza Humanitarian Foundation, in Khan Younis, in the southern Gaza Strip, May 29, 2025. (credit: REUTERS/Hatem Khaled)
“The targets of Hamas’s brutality are heroes who are simply trying to feed the people of Gaza in the middle of a war,” GHF stated.
“Our US security personnel—some of America’s most elite and decorated veterans—are on the ground to protect people. And our local staff, who keep these operations running, have already paid the ultimate price: twelve murdered, others tortured, and now more threats emerging by the day,” GHF continued.
GHF added that in recent days, Hamas has also “pre-positioned armed operatives near humanitarian zones in an effort to disrupt the only functioning aid delivery system in Gaza.”
GHF turns to UN to condemn targeting of workers in Gaza
GHF also called on the UN to partner with the group on a new system for getting food “straight to Palestinian families,” according to a letter delivered to UN Secretary-General António Guterres.
“The time has come to confront, without euphemism or delay, the structural failure of aid delivery in Gaza,” Rev. Johnnie Moore, GHF’s executive chairman, wrote in the two-page letter, seen by The Jerusalem Post.See more on
end
ISRAEL HAMAS
IDF reportedly strikes targets in Gaza, south Lebanon, hostage families meet with Marco Rubio
Trump says Gaza ceasefire could be reached next week • US Middle East envoy Steve Witkoff to visit Cairo – report
THE IDF maneuvers inside the Gaza Strip, as seen from Israel, last week. Continuing the fighting in Gaza will squander the credit we have earned in our intrepid struggle against Iran and its proxies, the writer cautions.(photo credit: AMIR COHEN/REUTERS)
END
IDF struck southern Khan Yunis in Gaza, Kafr Kila in southern Lebanon, Arab media reports
The IDF also issued evacuation warnings to Gazan residents living in Nuseirat and other areas in central Gaza and to move south towards Al-Mawasi.
IDF troops operate in Khan Yunis, in Gaza, June 3, 2025.(photo credit: IDF SPOKESPERSON’S UNIT)ByJERUSALEM POST STAFFJUNE 28, 2025 11:03Updated: JUNE 28, 2025 13:47
The IDF allegedly struck targets in southern Khan Yunis in the Gaza Strip, as well as the Kafr Kila municipality in south Lebanon, Arab media reported Saturday morning.
In Lebanon, the Hezbollah-affiliated Al-Mayadeen news source reported that “an Israeli aircraft dropped a bomb” in the area of Kafr Kila in the south of the country.
In Gaza, Palestinian sources reported artillery shelling of targets in southern Khan Yunis, with reports stating that residential buildings in the area were destroyed.
The IDF’s Arabic spokesman Avichay Adraee later called on Gaza residents to evacuate Nuseirat and several other neighborhoods in the center of the Palestinian enclave, including Badr and Al-Zahra. He then said that residents should move south to the Al-Mawasi area.
Recent incidents in Khan Yunis
Reports of the strikes come a day after Members of Abu Shabab took control of Nasser Hospital in the Palestinian city, after heavy exchanges of fire, according to Gazan media reports.
An Israeli soldier stands inside a tunnel underneath the European Hospital in Khan Yunis, in Gaza, June 8, 2025 (credit: REUTERS/Ronen Zvulun)
According to the reports, Hamas is trying to detain some of those involved.
“We are not working with Israel,” Yasser Abu Shabab emphasized to Army Radio. “They are simple weapons that we collected from the local population.” However, he did not rule out the possibility of coordinating with the IDF in the future, clarifying that it would be for humanitarian purposes.
Previous Israeli media reports also claimed that Abu Shabab was receiving arms from the IDF to try and oust Hamas in the Gaza Strip.
Maariv Online contributed to this report.
END
Trying for a peace deal
ISRAEL HAMAS
US Middle East envoy Steve Witkoff to visit Cairo for hostage deal-ceasefire talks – reports
Witkoff’s visit comes amid positive indications that there will be “notable progress in negotiations with a relative change in the tone of statements issued by Israel.”
US Special Envoy Steve Witkoff speaks at the White House in Washington, D.C., US, May 28, 2025(photo credit: REUTERS/LEAH MILLIS)ByJERUSALEM POST STAFFJUNE 28, 2025 13:21
US envoy to the Middle East Steve Witkoff is expected to head to Cairo in the coming days in a visit that will be “decisive” to try to reach a ceasefire and hostage deal in the Gaza Strip, sources told the Hezbollah-affiliated source Al-Akhbar in a report published on Saturday morning.
The sources added that Witkoff’s visit comes amid positive indications that there will be “notable progress in negotiations with a relative change in the tone of statements issued by Israel,” adding that the US envoy’s arrival in the Egyptian capital will push Israel to participate in negotiations.
The source then told Al-Akhbar that some Israeli officials “have already begun communicating with mediators to demonstrate flexibility on some points.”
Cairo also believes that with the end of escalation between Iran, Israel, and the US, Washington has positioned Gaza to be at the top of its priorities, and believes that Israel is delaying their response to a deal “either due to internal disputes within Israeli Prime Minister Benjamin Netanyahu’s government, or an attempt to use the time to increase pressure on Hamas by escalating field operations,” the report added.
US would also hold meetings on Gaza in Qatari capital – report
Egyptian sources told the Saudi news source Al-Hadath that preparations are underway by the United States to hold a meeting on Gaza in Doha, Qatar, and said that mediators were informed by them of their plans to present the end of the war in Gaza within days. The US is also pressuring Netanyahu to reach a long-term truce, the Egyptian sources added.
US Middle East Envoy Steve Witkoff at the main reception marking Israel’s 77th Independence Day at the Israeli Embassy in Washington DC, May 6, 2025. (credit: SHMULIK ALMANI)
The sources also told Al-Hadath that the mediators demanded that the US have Israel allow a ceasefire in Gaza for two weeks. They also said that while Gaza negotiations will resume, a “final decision will be made in the second week of July.”
The Qatari Foreign Ministry also said Saturday that there is an opportunity to reach a ceasefire in Gaza.
US President Donald Trump also said that there is a possibility of a ceasefire, but that it could be reached next week.
Reuters contributed to this report.
END
ISRAEL HAMAS
another new offensive underway?
(JerusalemPost)
Israel considers new Gaza offensive unlike previous invasions as hostage talks falter
Military sources told Walla that the largest civilian displacement of the Palestinian population in Gaza since the beginning of the war is being considered.
Ultra orthodox Jewish reserve soldiers of the IDF’s Hasmonean Brigade operate in the Gaza Strip on June 26, 2025. The Hasmonean Brigade is the Israel Defense Forces’ new Haredi (ultra orthodox) brigade.(photo credit: Chaim Goldberg/Flash90)ByAMIR BOHBOTJUNE 29, 2025 09:14Updated: JUNE 29, 2025 10:20
Prime Minister Benjamin Netanyahu is scheduled to hold a high-level discussion on Sunday with Defense Minister Israel Katz and IDF Chief of Staff Lt.-Gen. Eyal Zamir to evaluate the next steps in the Gaza Strip, including potential steps to embark on a wider military operation differing from previous offenses, according to defense sources.
If hostage negotiations do not result in a breakthrough in the coming days, the IDF is expected to embark on a wider military operation.
Inside the IDF, there is an ongoing debate over whether to press forward militarily or declare the war’s main objectives achieved. These accomplishments include the destruction of Hamas’s military infrastructure, the targeted killing of senior commanders, excluding Gaza City Brigade Commander Izz al-Din al-Haddad, who remains a target of the IDF and Shin Bet (Israel Security Agency), the dismantling of tunnels and weapons systems, and the seizure of over half the territory in the Gaza Strip. Israel has also blocked major smuggling routes from the Sinai Peninsula and the Mediterranean.
IDF assessments suggest that Hamas has reached its weakest point since taking over Gaza in 2007, forcing it to shift its focus from the battlefield to the diplomatic arena. Reflecting on a recent 12-day war between Israel and Iran, a senior defense official said, “The operation in Iran taught Hamas that one must also know when to end fighting.”
Nevertheless, some high-ranking officers believe a wide-scale ground maneuver remains necessary. Such an action would likely result in the largest civilian displacement since the war began.
Israel Katz chats with Prime Minister Benjamin Netanyahu at a cabinet meeting (credit: MARC ISRAEL SELLEM)
A mass evacuation could turn the Palestinian public against Hamas
Military sources said plans are being discussed to evacuate Gazans from key areas. They noted that, in Hamas’s current weakened state, a mass evacuation could turn public sentiment in Gaza against the group’s leadership. Still, they warned that urban warfare in heavily fortified and tunnel-ridden neighborhoods would result in significant IDF casualties.
According to military officials, this scenario would require the deployment of five fully manned divisions, in contrast to the partial deployments used earlier in the campaign. The move would also necessitate a new wave of reserve call-ups under Tzav 8.
Meanwhile, Brig.-Gen. Itzik Cohen, a decorated officer who commanded the 162nd Division during Operation Swords of Iron, will be promoted to the rank of major general. In the coming days, he is expected to take command of the IDF Operations Directorate, replacing Maj.-Gen. Oded Basiuk.
END
SYRIA/ISRAEL
this will be good!
‘Unfolding before our eyes’: Sharaa seeks strategic partnership with Israel in a new Middle East
A Middle East expert and former general believes that Iran’s weakness after the war removes obstacles to normalization with Syria and further regional partnerships.
Prime Minister Benjamin Netanyahu and Syrian President Ahmed al-Sharaa, with a map of the Middle East (Illustrative).(photo credit: Chip Somodevilla, Ali Haj Suleiman, KeithBinns/Getty Images)ByPELED ARBELIJUNE 29, 2025 10:21Updated: JUNE 29, 2025 12:31
Col. (res.) Dr. Moshe Elad, a Middle East expert and senior lecturer at the Western Galilee Academic College, envisions a scenario that, until recently, seemed far-fetched — but one he now considers increasingly realistic.
“A scene in which Ahmed al-Sharaa (Abu Muhammad al-Julani), the new president of Syria, and Prime Minister Benjamin Netanyahu shake hands on the White House lawn is no longer a hallucination,” Elad said. “Such a scene might happen very soon.”
According to Elad, this reflects a major shift in the region’s power dynamics.
“Anyone who followed Sharaa’s actions during the ‘12-day War’ and expected him to disrupt the Israeli Air Force’s operations over Iran was disappointed,” he explained. “‘With what exactly?’ Sharaa asked his critics — and rightly so. Even if he had Russian S-400 missiles, it’s unlikely he would have used them. Like Israel, Sharaa wants to weaken Iran, just like Saudi Arabia, Lebanon, Kuwait, Bahrain, and others.”
Elad believes Sharaa is seeking a strategic partnership.
Leader of new Syrian administration, Ahmed al Sharaa and Turkish Foreign Minister Hakan Fidan (not seen) watch the view of Damascus on Mount Qasioun following their meeting in Damascus, Syria on December 22, 2024 (credit: Murat Gok/Anadolu via Getty Images)
“He is looking for an alliance with Israel. This is not a mirage. It’s a reality that many fail to recognize, but it’s unfolding before our eyes.”
He connects this shift to broader US-led regional efforts.
“When US President Donald Trump hinted that ‘big things’ were coming in the region, and when his envoy [Steve] Witkoff spoke of a ‘new alignment’ in the Middle East, this included bringing Syria and Lebanon into the Abraham Accords. The inclusion of Saudi Arabia and Oman is no longer news. But if our two northern neighbors, who for decades supported terror against us, join, even through a strategic pact, that’s a dream becoming reality.”
Still, Elad urges caution.
“It may not be tomorrow that we enjoy hummus in Damascus or kanafeh in Ras Beirut, but the direction is clear — a tectonic shift we began witnessing before the war with Iran.”
Iran’s defeat as a turning point
Elad says Tehran’s recent military failure marked a historic change.
“Now that the Arab world has seen how Iran, despite its image, has been exposed as a paper tiger, a significant obstacle to Arab-Israeli rapprochement has been removed.”
From hostility to a handshake
Elad outlines how the region’s hostility toward Israel has gradually eroded.
“In 1949, Israel was surrounded by eight countries that wanted to destroy it. Our major success then was reaching UN-mediated armistice agreements with Egypt, Syria, Jordan, and Lebanon. For the Arab world, those signatures were humiliating — a core part of the Nakba narrative.”
Despite the anger and failed attempts to annihilate Israel’s 650,000 Jews at the time, Elad notes that the tide began to turn.
“In the 1960s, Egypt’s [Gamal Abdel] Nasser tried to rally the Arab world with his ‘Return to Palestine’ campaign. But in June 1967, the Six-Day War shocked the world, as Israel dealt a crushing blow to three major Arab armies.”
Twelve years later, Egypt’s Anwar Sadat signed a full peace deal. King Hussein of Jordan followed in 1994. Iraq collapsed in 2003. Libya fell soon after. Syria’s Assad regime, long defined by anti-Israel ideology, collapsed in November 2024. Hezbollah in Lebanon was severely weakened recently, clearing a path for a more moderate government in Beirut.
Sidestepping the Palestinian question
Elad emphasizes a key change in regional diplomacy.
“Until recently, no Arab country would engage with Israel without a solution for the Palestinians. I always wondered why nations like Indonesia and Malaysia, so far removed from the conflict, refused to establish ties.”
The answer, he said, was always the Palestinian cause.
“‘Approve a Palestinian state and the Arab world will welcome you,’ they said. But now we’re seeing a bypass. Palestinians might join the Abraham Accords without preconditions — because they see Syria, Lebanon, Saudi Arabia, Oman, Indonesia, Malaysia, and even Pakistan moving forward.”
Israel’s role in the new Middle East
Elad concludes that Israel is leading a transformation.
“The Abraham Accords, signed in 2021, became a showcase of Israeli innovation for Arab states — in medicine, agriculture, science, and technology. It’s that famous metaphor: the train has left the station. Whoever doesn’t get on will regret it. And Israel is waiting for the next countries to board.”
END
THE LATEST: THIS AFTERNOON
Iran UN Envoy Makes Clear That Nuclear Enrichment ‘Will Never Stop’
b
Monday, Jun 30, 2025 – 01:05 PM
In a “Face the Nation” interview on Sunday, Iran’s ambassador to the United Nations, Amir Saeid Iravani, vowed that Tehran will “never stop” enriching uranium as this is an inalienable right and matter of national sovereignty under the nuclear Non-Proliferation Treaty (NPT).
Iran has constantly highlighted that its archnemesis Israel has a secret nuclear arsenal and is not a member of the NPT, while Tehran has long been a party to the treaty. “You know that we are a member, [a] responsible member of the NPT. And according to this treaty, we have the mutual rights. It means that the right of one side will be the obligation of the other sides,” he said.
He outlined rights guaranteed under the treaty as “research and development, production of uranium, and use of peaceful energy,” as well as “legal protection by the IAEA for our activity and technical cooperation for our development programs.”
When asked directly whether even after the 12-day war with Israel, and being on the receiving end of America’s B-2 bomber campaign targeting nuclear facilities, Iravani replied, “I think that enrichment will not — never stop.”
He then asserted enrichment as “our right. An inalienable right. And we want to implement this right,” adding that such activity “will remain always in a peaceful manner.”
Responding to allegations in Iranian media that International Atomic Energy Agency (IAEA) Director-General Rafael Grossi is “an Israeli spy” and that he should be arrested, the ambassador said, “No, there is not any threat. It is a very clear law of our parliament that they have suspended our cooperation with [the] IAEA because the agency has not implemented their rights, their responsibility … but there is not any threat against the general director of the IAEA.”
As for whether the situation inside the Islamic Republic is safe enough for inspections to resume, he responded, “They are in Iran. They are in safe conditions. But activity has been suspended. They cannot have access to our site.”
Meanwhile, The Washington Post has presented new evidence which strongly suggests the US strikes against Fordow, Natanz, and Esfahan were not as effective as the White House is saying:
The United States obtained intercepted communication between senior Iranian officials discussing this month’s U.S. military strikes on Iran’s nuclear program and remarking that the attack was less devastating than they had expected, said four people familiar with the classified intelligence circulating within the U.S. government.
The communication, intended to be private, included Iranian government officials speculating as to why the strikes directed by President Donald Trump were not as destructive and extensive as they had anticipated, these people said. Like some others, they spoke on the condition of anonymity to discuss sensitive intelligence.
Powerful Democratic Senator Chris Murphy will use this info and other data to support his position that “You cannot bomb knowledge out of existence — no matter how many scientists you kill.”
NEW: Iran has likely begun to assess damage and conduct repair operations at the Fordow Fuel Enrichment Plant. Commercially available satellite imagery captured on June 28 and 29 shows Iranian heavy equipment near two clusters of three impact points on ventilation shafts at… pic.twitter.com/w2IyR2HpfM
— Institute for the Study of War (@TheStudyofWar) June 29, 2025
Murphy recently explained, “There are still people in Iran who know how to work centrifuges. And if they still have enriched uranium and they still have the ability to use centrifuges, then you’re not setting back the program by years. You’re setting back the program by months.”
* * *
Below are more geopolitical headlines and developments via Newsquawk:
MIDDLE EAST
Israel’s army said it identified the launch of a missile from Yemen on Saturday.
Egyptian Foreign Minister said work is underway on an upcoming agreement in Gaza that includes a 60-day truce, according to Alhadath via X.
US President Trump said Israeli PM Netanyahu is in the process of negotiating a deal with Hamas to get hostages back.
US President Trump said he knew exactly where Iran’s Supreme Leader Khamenei was sheltered and would not let Israel or US armed forces terminate his life, while Trump said he demanded that Israel bring back a very large group of planes that were headed directly to Tehran in the final act of the war. Furthermore, Trump said he was working on the possible removal of sanctions in the last few days and other things which would have given Iran a much better chance at a recovery but warned that Iran has to get back into the world order flow or things will only get worse for them.
US justified its strikes on Iran as collective self-defence under the UN Charter in a letter to the UN Security Council and said the objective was to destroy Iran’s nuclear enrichment capacity and stop the threat that Tehran obtains and uses a nuclear weapon, while it added that the US remains committed to pursuing a deal with the Iranian government.
IAEA chief Grossi said Iran has the capacity to start enriching uranium again for a possible bomb in a matter of months, according to BBC.
Iran’s Foreign Minister said if US President Trump is genuine about wanting a deal, he should put aside the disrespectful and unacceptable tone towards Iran’s Supreme Leader.
Iran’s Armed Forces Chief of Staff Mousavi told Saudi Arabia’s Defence Minister that they highly doubt Israel’s commitment to the ceasefire, according to Tasnim.
Iran permitted the transiting of international flights over the centre and west of the country. In relevant news, Emirates cancelled all flights to and from Tehran until July 5th due to the regional situation, while it is to recommence operations to Baghdad on July 1st and Basra on July 2nd.
US President Trump says he is not offering Iran anything, and is not talking to Iran since destroying their nuclear sites.
“A source involved in the negotiations for a ceasefire in Gaza told the pro-Qatari news website Arabi 21 this morning that it is believed that an Israeli delegation will arrive in Cairo in the next two days”, according to Israeli Radio’s Kai.
Iran’s MFA spokesperson Baghaei says Iran and the EU have not agreed on a date for the next round of discussions. Talks are ongoing with the E3.
RUSSIA-UKRAINE
Russia said its troops captured Novoukrainka in eastern Ukraine, according to RIA.
US President Trump said on Friday that he may send patriot missiles to Ukraine and commented that he will get the conflict solved with North Korea’s leader Kim.
OTHER
India’s Ministry of External Affairs said they have seen and rejected the official statement by the Pakistan Army seeking to blame India for the attack in Waziristan on June 28th.
ISRAEL/HOUTHIS
they sent another rocket on Saturday:
(JerusalemPost)
Houthis pick up where Islamic Republic left off by returning to attacks on Israel – analysis
Attacks on the Houthis didn’t appear to cause very much damage and have not set back their missile program, apparently, enabling them to continue the attacks on Israel.
A Houthi drone fired from Yemen that was intercepted by the military on May 5, 2025.(photo credit: IDF SPOKESPERSON’S UNIT)
The Iran-backed Houthis appear to be seeking to pick up where Iran left off by renewing ballistic missile attacks on Israel.
Sirens sounded across the Negev on Saturday morning. The IDF said it had detected and attempted to intercept the missile in what is the first attack in four days since the ceasefire with Iran began on June 24.
The Houthis back Hamas and have vowed to continue attacking Israel until there is a ceasefire in Gaza.
The IDF said around 7 a.m. that it had “identified the launch of a missile from Yemen toward Israeli territory, aerial defense systems are operating to intercept the threat. The public is requested to follow the Home Front Command’s defensive guidelines.”
Twenty minutes later, the IDF said that “following the sirens that sounded a short while ago in several areas in Israel, one missile was launched from Yemen. An interceptor was launched toward the missile, and the missile was most likely successfully intercepted. Sirens were sounded in accordance with protocol.”
Israeli air force strikes Houthi targets in Sanaa’s International Airport, May 28, 2025. (credit: SCREENSHOT/VIA X:@KAlshaief)
Houthi-affiliated media Al-Masirah mentioned the attack in several posts. However, the Houthis did not immediately put out a statement about the attack. They took a back seat during the Iran-Israel conflict, and did not fire missiles for a week and a half, and were likely consolidating themselves and letting the Iranians do the work.
Now, with Iran out of the picture due to a US-backed ceasefire, the Houthis may rejoin the fight.
Why would the Yemen-based terror group return to fighting?
Why would the Houthis seek to return to fighting? They have suffered relatively limited losses over the past year and a half since they began attacks on Israel in the wake of the Hamas attack. They have attacked ships, even boarded and taken over one commercial ship they claimed was linked to Israel. They have launched drone, cruise missile attacks, and ballistic missile attacks.
The ballistic missile attacks increased in the last months of 2024. They stopped due to the January-March ceasefire in Gaza. Then they began again in March and April.
The Houthis have aimed to keep up the tempo of attacks despite six Israeli retaliatory raids on Yemen. The IDF raids on Yemen used long-range air force strikes to hit the Houthis. This enabled the IDF to fine-tune strikes later used on Iran. This is because the Houthis are more than 1,000 miles away, a similar distance to Iran.
However, the attacks on the Houthis didn’t appear to cause very much damage and have not set back their missile program, apparently, enabling them to continue the attacks on Israel.
The IDF issues a statement confirming the riot by settlers outside a military base in the West Bank, saying some of those present attacked security forces, sprayed mace and vandalized army vehicles.
Troops and police took action to disperse the rioters, the statement adds, without elaborating.
The army also says it is aware of reports that an Israeli citizen was wounded amid the violence and required medical treatment.
“The IDF and Israel Police condemn any display of violence toward the security forces and will act firmly against any attempt to harm members of the security forces, who are fulfilling their duty to protect Israeli citizens,” adds the statement. “The IDF and Israel Police will continue to focus on safeguarding citizens’ security, alongside enforcing the law and preventing illegal acts of any kind.”
HEZBOLLAH
IDF says it killed Hezbollah commander in southern Lebanon drone strike
Kremlin spokesman Dmitry Peskov confirmed last week that the US’ bombing of several nuclear sites in Iran won’t affect their bilateral dialogue, declaring that “These are independent processes.”
This is significant since many observers speculated that Trump duped Iran with diplomacy while supposedly plotting to attack it this entire time. If true, then it would follow that he might also be duping Russia too, albeit not in preparation of a direct US attack but in pursuit of some other nebulous goal.
Putin doesn’t adhere to that interpretation, however, which is also proven by him later talking about his “great respect” for Trump and praising his “sincere commitment” to peace in Ukraine.
Skeptics might speculate that he’s playing “5D chess” as part of some “master plan” to “psyche out” the US but that doesn’t make much sense.
There’s no point in continuing a dialogue if one of the parties is convinced that the other isn’t negotiating in good faith. That would be a total waste of time and resources.
Their polemics don’t equate to Putin supposedly suspecting Trump of foul play in the US’ talks with Iran, however, but they do show that Russia was very displeased with what he ended up doing even though it later expressed cautious optimism about the ceasefire that he claimed credit for brokering. All of this is consistent with Russian policy.
On that topic, Russia is also interested in a ceasefire with Ukraine, but only on its terms. These include Ukraine withdrawing from the entirety of the disputed regions, declaring that it’ll no longer pursue NATO membership, and Western countries cutting off arms shipments to it, among other demands. Russia believes that continued dialogue with the US can lead to Trump ultimately coercing Zelensky into these concessions, to which end Putin offered him a strategic resource-centric partnership as an incentive.
The idea is that the US could invest in Russia’s rare earth and Arctic energy industries, with the first providing the US with its sought-after minerals and the second leading to them jointly managing the global oil and natural gas markets, thus giving each of them stakes in the other’s success. This could then in turn help ensure that relations remain manageable even if another crisis unexpectedly erupts. With time, Russia and the US would then reshape the world order, but only if their détente remains on track.
Therein lies the importance of continued Russian-US dialogue, which Putin is committed to in spite of speculation that Trump duped Iran with diplomacy ahead of attacking it. From his perspective, Trump isn’t just saying the right things about the conflict (most of the time at least), but he more importantly hasn’t doubled down on military-intelligence aid to Ukraine. Simply put, it’s Trump’s actions (or lack thereof in this case) that impress Putin, not his words, which he’d be foolish to take at face value.
That said, there’s no guarantee that Putin can convince Trump to coerce Zelensky into his demanded concessions, and the potential failure of their talks could indeed lead to the US escalating its involvement in Ukraine and therefore worsening tensions with Russia. Even so, Putin won’t prematurely abandon diplomacy just because some speculate that the US never truly intended to reach a deal with Iran, the assessment of which he doesn’t share as confirmed by his own and Peskov’s recent statements.
end
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUES
CDC: New COVID Variant Estimated To Be No. 1 Strain In US
A new estimate from the U.S. Centers for Disease Control and Prevention shows that a COVID-19 variant that has been driving cases in China earlier this year is now the No. 1 strain in the United States.
A CDC estimate, updated on June 26, shows that between June 8 and June 21, the NB.1.8.1 variant now makes up 43 percent of COVID-19 cases in the United States and is ahead of the LP.8.1 variant.
Earlier this month, CDC data showed that NB.1.8.1 had 37 percent of cases and was No. 2 behind the LP.8.1 variant, which saw 38 percent of reported cases at the time. The new CDC estimate this week shows that LP.8.1 now makes up 31 percent of all cases.
The CDC says that wastewater levels show COVID-19 activity is “currently low” despite the NB.1.8.1 variant increase. Only Alaska is reporting “high” levels of the virus, while Hawaii, Nevada, Texas, Missouri, Mississippi, Florida, and Connecticut are seeing “moderate” levels, according to the CDC.
Last week, private data showed that states reporting the variant, which has been dubbed “Nimbus” in some media reports, include Arizona, California, Colorado, New Jersey, New York, Hawaii, Illinois, Maryland, Massachusetts, Ohio, Rhode Island, Utah, Vermont, Virginia, and Washington state as of June 19.
Chinese doctors earlier this month predicted a peak of nationwide COVID-19 cases in July, as the latest data released by Chinese health authorities show that variant NB 1.8.1 is still the main pathogen causing the rapid increase in COVID-19 infections in China.
An internal university research report at China’s Peking University stated that NB.1.8.1 may become the next dominant global strain, with symptoms including a sharp sore throat, fever, runny nose, vomiting, and diarrhea, according to previous Epoch Times reporting.
A worldwide rise in cases late last month is primarily in the Eastern Mediterranean, Southeast Asia, and Western Pacific regions, the World Health Organization said on May 28. The new variant had reached nearly 11 percent of sequenced samples reported globally in mid-May.
The WHO said some Western Pacific countries have reported increases in COVID cases and hospitalizations, but there’s nothing so far to suggest that the disease associated with the new variant is more severe than other variants.
In a statement to The Epoch Times in late May, a CDC spokesperson said the agency “is aware of reported cases of COVID-19 NB.1.8.1 in China and is in regular contact with international partners.”
Prior reports from The Epoch Times, citing Chinese doctors and outside health experts, have said that patients are reporting a sharp sore that’s been dubbed the “razor blade throat” or “razor throat.” Some media outlets, including The Associated Press and international media reports from the UK and India, have used the “razor throat” moniker to describe the NB.1.8.1 variant.
Due to the Chinese Communist Party’s history of covering up information and publishing unreliable data, including underreporting COVID-19 infections and related deaths since 2020, information provided by local doctors and health workers can offer valuable information for understanding the situation on the ground in the totalitarian country.
That COVID “vaccination,” far from “keeping people safe,” has killed or crippled them (us) in awful numbers, all around the world, is (as faithful readers of this Substack know) a fact that we’ve been working hard, these past three years, to get across as vividly as possible, since it’s been completely blacked out by the government (federal, state and municipal), nearly all of “our free press” and most of what we call the medical profession.
We make this weekly effort not by spotlighting the grim statistics of mortality and injury—crucial information, certainly, but in itself far too abstract to move the needle (so to speak). While we do often post such numbers, our primary purpose is to show that they are not just numbers, but an ever-growing multitude of other people—babies included—whose names and faces, and survivors, give us a uniquely harrowing sense of “those we’ve lost,” even though the daily toll is vastly greater than our compilations, even at their longest, can convey. In short, our work here is a necessary illustration of the staggering losses dryly noted in the (honest) scientific studies of what COVID “vaccination” really does, is doing, and will keep on doing for some time.
Thus we’ve shed some urgent light on “vaccination” as a sure destroyer of countless individual minds and bodies—a bioweapon crafted to pick us off one at a time, with months, or years, between injection and collapse, the “vaccinated” either dropping dead (for no given reason) or falling gravely ill. That delay, and the criminal assurances of “safety” and “effectiveness” (after the global terror of “the pandemic”) have made this unprecedented mass annihilation quite invisible to most of us, and, therefore, as many have observed, a perfect crime.
And yet, horrendous though it is, that’s not the least of it, nor the worst of it; for “vaccination” doesn’t merely kill us one by one, nor does it ravage just the body and/or mind. No less catastrophic, if not more so, is the dire impact of “vaccination” on the soul—that is, the moral sense, whereby we live together, in observance of the Golden Rule. That effect, on whole societies, or all society, has been far more spectacular than the countless isolated deaths and illnesses induced by “vaccination”; and yet, blatant, and bizarre—indeed, grotesque—though it may be, that larger impact also is peculiarly invisible, since, just like all the individual “adverse events” post-“vaccination,” the larger social/civic impact of the jab is something most of us don’t want to see, although it’s obvious, and all around us, every day; and the longer it goes on, the less we’re able to perceive it.
First, here are two recent studies, one in the U.S. and one in Italy, evidencing this disastrous larger impact of “vaccination”:
An “alarming” new study has found that Covid mRNA “vaccines” triggered serious neuropsychiatric conditions, causing suicidal thoughts, violent behavior, and homicidal ideation to skyrocket.
The study also found massive surges in brain injury, cerebral hemorrhage, brain clots, and dementia among those who received the injections.
In total, the study identifies 86 serious neuropsychiatric safety signals linked to Covid shots.
mRNA ‘Vaccines’ Cause ‘Personality Changes’: ‘Pineal Gland Was Completely Destroyed’
April 21, 2025
A world-renowned Italian pathologist has raised the alarm after discovering that Covid mRNA “vaccines” have “completely destroyed” the pineal gland of recipients, causing widespread “personality changes.”
The pathologist’s discovery was revealed by Fabio Zoffi, the founder of Zero Spike.
Zero Spike is an organization researching the toxicity and detoxification of spike proteins, as found in mRNA “vaccines.”
Zoffi described an Italian pathologist’s discovery showing spike proteins damage the pineal gland.
The pineal gland is a pea-sized organ inside the brain that regulates sleep, mood, and hormones.
Since 2020, there’s been an awful lot of “laryngitis” going around, forcing many a star to cancel, postpone, or go on hiatus from, their shows. Why would this be? One possibility, elaborated by the Cleveland Clinic and other citadels of (what doctors say is) medicine, is that COVID-19 often causes laryngitis:
As I’m no otolaryngologist, I can’t assess that thesis; but I like to think that I’m no sucker, either; so I think we ought to take this diagnosis with a grain of salt. While I have seen no studies linking laryngitis with the jab, I have found several on the likely link between the “vaccines” and a more serious condition called vocal fold immobility (VFI), which is described in detail by the experts at Johns Hopkins:
What is vocal cord immobility?
[no date]
When we breathe, the vocal cords open up to allow air to pass into the windpipe. They close against each other when we talk, swallow and cough. When one vocal cord does not move properly (unilateral vocal cord immobility), it can lead to a weak, breathy voice, inability to raise the volume of the voice and the sensation of running out of air while speaking. Problems with swallowing and a weak cough are common as well. When both vocal cords do not move properly, patients may experience trouble breathing.
There are many possible reasons why a vocal cord does not move properly, but it most often relates to a problem with the recurrent laryngeal nerve (which controls the vocal cord muscles) rather than a problem with the vocal cord itself. Injury to the nerve following surgery in the neck or chest is a common cause of vocal cord immobility. Other causes include:
Stroke
Neurologic disorders
Tumors in the voice box, neck, thyroid or chest that cause the vocal cord nerve to malfunction
Neck trauma
Voice box trauma after having a breathing tube in your windpipe
Occasionally, one or both vocal cords do not move properly after scar formation or a problem with the vocal cord joint. If scars form in the back of the voice box between the vocal cords, this can cause both vocal cords to not move properly — this is called laryngeal stenosis.
There are several studies of the possible connection between VFI and “vaccination,” most of them dismissing it as “rare” or otherwise unlikely. However, this one is more candid vis-a-vis that link—perhaps because it came out in late 2020, before the “vaccination” drive began. Note that this study proposes that VFI may be a side effect, not necessarily of COVID “vaccination” per se, but vaccination overall:
Vocal Fold Immobility Following Vaccination
June 21, 2021
Conclusion: Vaccine administration may be associated with VFI and physicians should be cognizant of this potential adverse event. This is a rare complication [maybe] with less reported cases than other post-vaccination cranial neuropathies. The difficulty in establishing an initial diagnosis and need for specialized evaluation by an otolaryngologist may result in under-reporting of such events. Further research is needed to delineate the exact pathophysiology of this complication and determine whether a causal relationship exists.
The following accounts of shows called off because of what Lorde called “horrendous laryngitis” suggest that VFI is not so “rare” or “unusual” a side effect after all.
Paloma Faith [40] channels Tinker Bell with a chic pixie hairdo as she laments having to cancel a gig after contracting laryngitis
September 20, 2021
Researcher's Note – Hey all, I know it’s hard. But what’s happening right now in this pandemic is happening, and we all need to do our bit to pull us out towards spring and hopefully towards the vaccination [sic]. I hope that you will all do your bit for the greater good of everyone and not flout the rules. So much love, Paloma xxx Link
Phillip Schofield sparks concern among fans with This Morning appearance
November 29, 2021
Researcher's Note – This Morning star Phillip took to Instagram Stories to share the good news with his 3 million followers, and he did so by simply uploading a photograph of his vaccine [sic] card with the caption: "Boosted!!" The official card showed that Phillip received his third dose of the vaccine [sic] on Saturday, and he was given the Pfizer jab. Link
Dua Lipa cancels another gig due to laryngitis as she continues to be on vocal rest per doctor’s orders: ‘I’m extremely disappointed’
December 9, 2021
Researcher's Note – At the end of June 2021, Dua Lipa told Vanity Fair she was “committed” to getting vaccinated [sic] and was “waiting her turn for the coronavirus vaccine [sic].” Link
Lorde Postpones Two Shows Due to ‘Horrendous Laryngitis’
April 16, 2022
Researcher's Note – New Zealand's own superstar singer Lorde is urging Kiwis to get their Covid-19 vaccine [sic], and says they should treat themselves after getting the jab. The pop star spoke to Super Shot Saturday Vaxathon, revealing she was one who struggled to cope with being injected with needles. Link
Fontaines D.C. cancel Boston show after Grian Chatten diagnosed with laryngitis
April 25, 2022
Researcher's Note – “There were stories on this record that are not about me and that are not about Dublin and that are not about anyone in our band,” says frontman Grian Chatten. “We released the first two in such quick succession, that this one… it’s the same thing with the vaccine [sic]. I went for the third shot the other day and all of a sudden I developed a phobia of needles. For the third one!” Link
Tom Jones Denies ‘Pure Rumor’ That He Collapsed Onstage, Postpones Show Due to ‘Viral Laryngitis’
July 13, 2022
DR PAUL ALEXANDER
NEWS ADDICTS
LATEST REPORTS FOR NEWS JUNKIES
Ex-FBI Dir. Wray Referred for Criminal Prosecution Related to 2020 Voter FraudFBI Director Kash Patel announced earlier this month that the bureau located an intelligence report from August 2020 that detailed “alarming allegations” regarding an apparent Chinese communist plot to interfere in the presidential election for the benefit of then-candidate Joe Biden.Such allegations, if brought to light at the time, would have vindicated the concerns about voter fraud and foreign election …READ THE FULL REPORT
Supreme Court Hands Trump Win on Birthright Citizenship, Judicial OversightThe Supreme Court on Friday allowed President Trump’s executive order restricting birthright citizenship to go into effect in some areas of the country – blocking judges’ ability to halt the president’s policies nationwide.The order, signed Trump’s first day in office, curbs birthright citizenship for children born on US soil if they don’t have at least one parent with permanent legal …READ THE FULL REPORT
Fox News Host Blindsided by $787 Million LawsuitDemocrat California Governor Gavin Newsom has filed a lawsuit against Fox News for a total of $787 million, accusing the network of defamation. The suit accuses Fox host Jesse Watters of saying that Newsom lied about talking on the phone with President Donald Trump.The claim in question was made on June 10. Newsom denied speaking with Trump on the phone, …READ THE FULL REPORT
Award-Winning Washington Post Reporter Arrested for Possessing Child PornographyA Washington Post editor who was awarded a Pulitzer Prize for his coverage of Senate candidate Roy Moore and his alleged attraction to minor teen girls, was arrested for possessing child pornography.Thomas Pham LeGro, 48, was arrested on Thursday and made his first appearance in US District Court on Friday.According to federal prosecutors, a review of LeGro’s laptop revealed a …READ THE FULL REPORT
Trump Ends Trade Talks with Canada ‘Effective Immediately’The United States is terminating trade discussions with Canada for the time being, President Donald Trump announced on Friday, citing the country’s digital services tax on American tech companies.The president made the announcement in a Truth Social post following a Friday afternoon press briefing at the White House.“We have just been informed that Canada, a very difficult Country to TRADE …READ THE FULL REPORT
NEWSWIZE
LATEST NEWS
Kamala’s Daughter Describes ‘Traumatic’ Voting ExperienceElla Emhoff, stepdaughter of Vice President Kamala Harris, described her recent voting experience in New York City as emotionally difficult.The 26-year-old cast her ballot in the Democratic mayoral primary at the same polling station where she had previously voted for Harris.Emhoff shared her thoughts via Instagram Stories on Tuesday, urging her followers to vote despite the extreme heat.She endorsed Democratic …READ MORE
‘Squad’ Dem Issues Jaw-Dropping ICE Demand After Terror Suspect ArrestRep. Rashida Tlaib (D-MI) renewed her call to abolish Immigration and Customs Enforcement (ICE), following the detention of 11 Iranian nationals by the agency.Tlaib was approached by independent journalist Nicholas Ballasy at the Capitol, who asked whether the rhetoric used by politicians against ICE might have influenced recent demonstrations in Los Angeles.Responding, Tlaib emphasized that her criticism of ICE has …READ MORE
Trump Admin Drops Huge Deportation NewsOne day after a judge outlined possible bail conditions for Kilmar Abrego Garcia in his human smuggling case, his attorneys filed an emergency motion requesting that he be returned to Maryland while awaiting trial.The government informed U.S. District Judge Paula Xinis that if Abrego Garcia is granted bond, the administration plans to deport him to a country other than his …READ MORE
Trump Breaks Shocking Political RecordPresident Donald Trump has secured a record-breaking $1.4 billion in commitments for his political war chest since his 2024 election victory.Sources within his team and political advisors indicate this massive fundraising haul will make Trump “an even more dominant force” in shaping the Republican Party’s strategy for the 2026 midterm elections.Since November 2024, Trump’s political operations, combined with funds held …READ MORE
Trump Scores Crucial SCOTUS Legal VictoryThe Supreme Court has ruled to end the widespread use of nationwide injunctions, a decision hailed as a major victory for the Constitution and the separation of powers.This ruling limits judges from blocking executive actions across the entire country.White House Counsel David Warrington stated that the decision restores the proper balance between the branches of government and strengthens the rule …READ MORE
LATEST REPORTS FOR NEWS JUNKIES
Trump Says Democrats Leaked Iran Intelligence Report to CNNPresident Donald Trump suggested Thursday that Democrat lawmakers are responsible for leaking top secret intelligence about last week’s strikes on Iranian nuclear sites.“The Democrats are the ones who leaked the information on the PERFECT FLIGHT to the nuclear sites in Iran,” the president posted on Truth Social. “They should be prosecuted!”The post comes as the Pentagon, along with assistance from …READ THE FULL REPORT
Trump Urged to Revoke Mamdani’s Citizenship, Deport Him Under Communist Control ActThe New York Young Republican Club has urged President Donald Trump to revoke the U.S. citizenship of New York City Democratic mayoral candidate Zohran Mamdani and deport him under the Communist Control Act of 1954, which bans communists from holding certain political offices.The club made the impassioned plea on Wednesday, one day after the radical Muslim — a self-declared democratic …READ THE FULL REPORT
Here’s What the Trump Plans to Do Once Kilmar Abrego Garcia Is ReleasedImmigration and Customs Enforcement (ICE) plans to deport Kilmar Abrego Garcia again after a federal judge releases him.Abrego Garcia’s case garnered national attention when the Trump administration deported him to El Salvador earlier this year. Critics argued that the administration did not provide him, or the other deportees, with proper due process before removing them.Abrego Garcia was residing in Maryland …READ THE FULL REPORT
Trump Announces Major Trade Deal Signed with ChinaPresident Donald Trump said on Thursday that the US signed a trade deal with China and that a deal with India may also be in the works.He said that Trump administration officials have been “working overtime making deals with other countries,” and then added, “We just signed with China yesterday, right? Just signed with China.” However, he did not specify …READ THE FULL REPORT
Supreme Court Rules 6–3 in Planned Parenthood Defunding CaseThe U.S. Supreme Court on June 26 ruled that South Carolina may stop abortion provider Planned Parenthood from taking part in the state’s Medicaid program.The majority opinion in the 6–3 decision in Medina v. Planned Parenthood South Atlantic was written by Justice Neil Gorsuch. The new ruling reverses a federal appeals court decision that blocked South Carolina from excluding Planned …READ THE FULL REPORT
LATEST NEWS
GOP Rep Sounds Alarm on Controversial Dem Candidate in Explosive AllegationRep. Andy Ogles (R-TN) has requested that the Justice Department (DOJ) investigate Zohran Mamdani, the Democratic nominee for New York City mayor, for allegedly misrepresenting information during his U.S. citizenship application. The request has intensified scrutiny around Mamdani’s background following his unexpected win in the Democratic primary.Mamdani recently defeated former New York Gov. Andrew Cuomo in a major political upset, positioning …READ MORE
Trump Unveils Power-Play That Would Deliver Crushing Blow to DemsThe Trump administration has unveiled plans to change how the U.S. census counts the population by excluding illegal immigrants from the totals that determine congressional representation and federal funding. This move directly challenges policies implemented during the Biden administration and could shift political power away from heavily populated Democratic states.Previously, the administration sought a similar change in the 2020 census, but …READ MORE
Planned Parenthood Sparks Firestorm Over Eyebrow-Raising Men’s Health Month MessageA Planned Parenthood affiliate is under fire after issuing a social media post encouraging “trans” men—biological women who identify as male—to schedule cervical cancer screenings in recognition of Men’s Health Month.The post, shared over the weekend by Planned Parenthood of Southern New England, sparked widespread backlash for promoting female-specific medical procedures as part of men’s health advocacy. “Trans men are men …READ MORE
Blue State Rep Arrested at Major Retailer, Gives Mind-Boggling ExcuseA Democratic lawmaker in Connecticut is under scrutiny after police arrested him at a Target store for allegedly failing to scan merchandise during self-checkout. State Rep. Raghib Allie-Brennan, who has served four terms in the Connecticut House of Representatives, was taken into custody on Monday evening in Bethel after store security claimed he bypassed payment on two items.According to a Bethel …READ MORE
Arizona Man Makes Bone-Chilling Confession as Sinister Multi-Murder Plot ExposedAn Arizona man in custody has admitted to murdering a pastor in northern Maricopa County and revealed intentions to kill dozens more religious leaders across the country. During a jailhouse interview, Adam Christopher Sheafe detailed his religiously motivated crimes and outlined his chilling nationwide target list.Sheafe confessed to killing 76-year-old Pastor William Schonemann, who was found dead at his New River …READ MORE
EVOL NEWS
LATEST NEWS
Canada Vs. US: Tariff War Intensifies in Shocking FashionCanada has sharply increased duties on American steel imports in response to President Donald Trump’s abrupt end to trade talks.The Canadian government imposed an import quota late Friday, and any American steel shipments exceeding that limit will now face a 50% surcharge.Finance Minister François-Philippe Champagne said the measure is meant to protect Canada’s steel industry from what he called “unjust …READ MORE
Trump Deals Major Blow to Dems: ReportA new Pew Research Center report offers insight into the voter demographics behind President Donald Trump’s sizable 2024 election victory. The data reveals significant changes in the makeup of Trump’s support compared to previous elections.The analysis shows that Trump’s 2024 electorate was more racially and ethnically diverse than in 2016 or 2020. Hispanic voters, in particular, were nearly evenly split …READ MORE
Trump Brokers Huge Peace DealLeaders from Rwanda and the Democratic Republic of Congo gathered with President Donald Trump at the White House on Friday to mark a peace agreement brokered by the United States.President Trump declared that the violence and destruction in the region would end, signaling the start of a new era of hope, opportunity, and peace.He described the conflict as the largest …READ MORE
Tucker Carlson Praises Socialist Democrat in Jaw-Dropping MoveDemocratic socialist Zohran Mamdani received unexpected praise from prominent Republicans Tucker Carlson and Marjorie Taylor Greene following his success in the New York City mayoral Democratic primary.Mamdani unofficially led the primary on Tuesday with 43 percent of first-round votes, prompting his main rival, former Governor Andrew Cuomo, to concede defeat.Although Mamdani did not surpass the 50 percent threshold needed for …READ MORE
DOJ Issues Shocking PurgeThe Trump administration has terminated three Justice Department prosecutors involved in handling cases tied to the Jan. 6, 2021, Capitol protests, according to two individuals with knowledge of the matter.Sources familiar with the situation told the Associated Press that the firings appear to align with a broader pattern of dismissals targeting those who have pursued legal action against former President …READ MORE
MIKE EVERY/OR PICTON OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS
7.OIL AND NATURAL GAS//GLOBAL/ENERGY/
Mysterious Blast Paralyzes Oil Tanker In Mediterranean Weeks After Russian Port Call
by Tyler Durden
Monday, Jun 30, 2025 – 10:25 AM
A mysterious blast struck a tanker carrying 1 million barrels of oil near Libya, and the vessel is now being towed to Greece for damage assessment, according to Bloomberg, citing a statement from the ship’s manager. The incident comes amid growing concerns about attacks on commercial vessels navigating highly contested waters, including the Strait of Hormuz and other key shipping lanes.
The Vilamoura suffered a severe explosion that appears to have led to significant water intake, flooding the tanker’s engine room. The exact cause of the blast—and whether it originated inside or outside the ship—remains unclear.
Interestingly, Bloomberg compiled ship-tracking data on the Vilamoura’s recent sails, revealing that the tanker visited the Russian port of Ust-Luga in early April, where it loaded Kazakh-origin barrels. It also had a port calling at the Caspian Pipeline Consortium terminal near the Russian port of Novorossiysk in May, which primarily handles Kazakh oil.
The explosion remains suspicious given the tanker’s recent routes and raises the possibility of a covert allied special forces operation aimed at paralyzing the tanker known for hauling Russian crude. While purely speculative at this stage, the theory is not entirely far-fetched given the ongoing war in Ukraine as European maritime authorities prepare to launch a formal investigation into the incident.
June 29, 2025 – Ottawa, Ontario – Department of Finance Canada
Canada’s new government is engaged in complex negotiations on a new economic and security partnership with the United States, focused on getting the best deal for Canadian workers and businesses. Prime Minister Carney has been clear that Canada will take as long as necessary, but no longer, to achieve that deal.
To support those negotiations, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, announced today that Canada would rescind the Digital Services Tax (DST) in anticipation of a mutually beneficial comprehensive trade arrangement with the United States. Consistent with this action, Prime Minister Carney and President Trump have agreed that parties will resume negotiations with a view towards agreeing on a deal by July 21, 2025.
The DST was announced in 2020 to address the fact that many large technology companies operating in Canada may not otherwise pay tax on revenues generated from Canadians. Canada’s preference has always been a multilateral agreement related to digital services taxation. While Canada was working with international partners, including the United States, on a multilateral agreement that would replace national digital services taxes, the DST was enacted to address the aforementioned taxation gap.
The June 30, 2025 collection will be halted, and Minister Champagne will soon bring forward legislation to rescind the Digital Services Tax Act.
Quotes
“In our negotiations on a new economic and security relationship between Canada and the United States, Canada’s new government will always be guided by the overall contribution of any possible agreement to the best interests of Canadian workers and businesses. Today’s announcement will support a resumption of negotiations toward the July 21, 2025, timeline set out at this month’s G7 Leaders’ Summit in Kananaskis.”
– The Rt. Honourable Mark Carney, Prime Minister of Canada
“Canada’s new government is focused on building the strongest economy in the G7 and standing up for Canadian workers and businesses. Rescinding the digital services tax will allow the negotiations of a new economic and security relationship with the United States to make vital progress and reinforce our work to create jobs and build prosperity for all Canadians.”
The Honourable François-Philippe Champagne, Minister of Finance and National Revenue
END
Trump so far the clear winner in this trade war with Canada
(zerohedge)
Canada Scraps Digital Service Tax On U.S. Tech Giants To Revive Trade Talks
Monday, Jun 30, 2025 – 07:45 AM
Finance Minister François-Philippe Champagne wrote on X overnight that Canada has withdrawn its controversial Digital Services Tax (DST) on Silicon Valley tech giants, such as Alphabet and Meta, in order to restart stalled trade negotiations with the Trump administration. It’s another win for President Trump, as his ‘Art of the Deal’ tactics continue to bring far-left progressive countries back in line with his ‘America First’ agenda.
“Canada is engaged in complex negotiations on a new economic and security partnership with the U.S.,” Champagne wrote on X late Sunday.
He continued, “Rescinding the DST will allow the negotiations to make vital progress and reinforce our work to create jobs and build prosperity for all Canadians.”
Canada is engaged in complex negotiations on a new economic and security partnership with the U.S.
Rescinding the DST will allow the negotiations to make vital progress and reinforce our work to create jobs and build prosperity for all Canadians.
— François-Philippe Champagne (FPC) 🇨🇦 (@FP_Champagne) June 30, 2025
As a fresher, Canada’s DST was a 3% tax on the revenue that big tech companies earn from Canadian users, specifically from online advertising, marketplaces, and user data.
Canada’s move follows President Trump’s Friday afternoon announcement calling for all trade discussions with the country to be terminated. He also threatened to impose new tariffs within a week.
Also last Friday, Treasury Secretary Scott Bessent told CNBC that U.S. Trade Representative Jamieson Greer would investigate the tax to “determine the amount of harm to the U.S. companies and the U.S. economy in general.”
The stakes are high for Canada, as three-quarters of its exports are shipped to the U.S.—including energy products, other commodities, and automobiles—so tariffs would be devastating to the local economy.
Canada has taken the common-sense approach of returning to the negotiating table with Trump to work out a trade deal that benefits everyone.
UBS analyst Jason Cheng commented overnight on the developments:
Canada has withdrawn its digital services tax on technology companies in a move to restart trade talks with the U.S. This came after the pause in talks last Friday when U.S. President Donald Trump called an end to discussions with Canada, in retaliation for the digital tax. USDCAD is trading lower post the headline.
Daniel Béland, a political science professor at McGill University in Montreal, told AP News that Canadian Prime Minister Mark Carney’s retreat was a “clear victory” for Trump.
“President Trump forced PM Carney to do exactly what big tech wanted. U.S. tech executive will be very happy with this outcome,” Béland said.
Moments ago, Commerce Secretary Howard Lutnick thanked Canada for removing the DST tax.
Thank you Canada for removing your Digital Services Tax which was intended to stifle American innovation and would have been a deal breaker for any trade deal with America. https://t.co/b944wQ4cyn
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS MONDAY MORNING 6;30AM//OPENING AND CLOSING
EURO/USA: 1.1726 UP 0.0016 PTS OR 16 BASIS POINTS
USA/ YEN 144.16 DOWN 0.381 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 1.3702 UP .0013 OR 13 BASIS PTS
USA/CAN DOLLAR: 1.3670 UP 0.0002(CDN DOLLAR DOWN 2 BASIS PTS)
Last night Shanghai COMPOSITE UP 20.20 PTS OR 0.59%
Hang Seng CLOSED DOWN 211.87 PTS OR 0.87%
AUSTRALIA CLOSED UP 0.34%
// EUROPEAN BOURSE: MOSTLY RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: MOSTLY RED
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 211.87 PTS OR 0.87%
/SHANGHAI CLOSED UP 20.20 PTS OR 0.59%
AUSTRALIA BOURSE CLOSED UP 0.34 %
(Nikkei (Japan) CLOSED UP 336.60 PTS OR 0,84%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 3282.25
silver:$35.97
USA dollar index early MONDAY morning: 96.88 UP 12 BASIS POINTS FROM FRIDAY’s CLOSE
MONDAY MORNING NUMBERS ENDS
And now your closing MONDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.037% DOWN 3 in basis point(s) yield
JAPANESE BOND YIELD: +1.434% DOWN 1 FULL POINTS AND 40/100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.219 DOWN 2 in basis points yield
ITALIAN 10 YR BOND YIELD 3.485 DOWN 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.585 DOWN 1 BASIS PTS
IMPORTANT CURRENCY CLOSES : MID DAY MONDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.1716 UP 0.0006 OR 6 basis points
USA/Japan: 144.40 DOWN .157 OR YEN IS UP 16 BASIS PTS//
Great Britain 10 YR RATE 4.4821 DOWN 2 BASIS POINTS //
Canadian dollar DOWN .0002 OR 2 BASIS pts to 1.3670
Dollar Crashes To Worst H1 In 52 Years As Stocks Soar To Best Quarter Since Q1 2023 Despite Tariff Tantrum
Monday, Jun 30, 2025 – 08:00 PM
June has seen stocks up, bonds up, crypto up, oil up, and the dollar down bigly as ‘uncertainty’ tumbled along with US macro data.
After April’s crisis crash lows, US equities have staged a massive recovery in May and June with Q2 seeing the best quarter overall for the Nasdaq 100 since Q1 2023…
Source: Bloomberg
YTD, Nasdaq is the big winner along with the S&P while Trannies & Small Caps are biggest losers…
Source: Bloomberg
The S&P and Nasdaq closed the quarter at new record highs…
While Europe and Japan are outperforming US YTD, Q2 saw US equities easily outperform China and Europe (Japanese stocks still outperformed) as the world rebounded from early April’s collapse…
Source: Bloomberg
While Q2 saw Mag7 stocks dramatically outperform the rest of the market…
Source: Bloomberg
…they are still underperforming the S&P 493 YTD…
Source: Bloomberg
As ‘bad news’ on the macro-economic front has been good news for stocks…
Source: Bloomberg
Both ‘hard’ and ‘soft’ data plunged in June (dragging them both down on the quarter and YTD)…
Source: Bloomberg
As Uncertainty (global trade policy and geopolitical) have plummeted from crisis highs…
Source: Bloomberg
The bad news in macro has also translated into higher rate-cut expectations. However, all the quarter’s dovish shift has been concentrated in 2026 with 2025 expectations (of 2-3 cuts) flat on the quarter…
Source: Bloomberg
The wall of worry still looms. (h/t Chris Hussey, Goldman)
Even with potentially more Fed funds rate cuts ahead, July provides another month to climb the wall of worry — with this week alone offering two critical rungs on the ladder (a fresh ISM Manufacturing survey on Tuesday and the June Payrolls report on Wednesday).
And next week, of course, includes the July 9th tariff pause end date — potentially another big test for tariff levels.
Catalyst corner.
As we head into July and deep summer, a flurry of catalysts also lie ahead that could compel stocks higher or conversely, provide a broken rung on the wall of worry ladder that causes risk assets to fall. Beyond this week’s and next week’s macro catalysts (ISM, Payrolls, Jul-9 tariff pause deadline), we also face a few others, including:
2Q25 earnings season. Consensus is looking for only 4% yoy EPS growth in 2Q as margins contract qoq, but David Kostin expects the S&P 500 in aggregate will beat this low bar.
Budget bill. Congress will continue to refine its budget bill and Alec Phillips thinks it may be passed in late July/early August.
The Fed. The FOMC meets on Jul-29 and 30th with a statement due out on the afternoon of the 30th. Trivedi and team point out that a dovish tilt from the Fed amidst anemic inflation and still OK growth could reinforce an upside case for risk assets (see note above). And while we do not expect the Fed to cut rates at the July meeting, we now do look for the central bank to begin cutting again at the next meeting after this one, in September.
AI. The hyperscalers — GOOGL, MSFT, AMZN — report towards the end of July or on the first day of August, providing another datapoint around the durability of the AI infrastructure trade.
Q2 2025 also saw Treasuries mixed with the short-end outperforming and the long-end significantly lagging…
Source: Bloomberg
…but June was (almost) a one-way street bid for Treasuries as a whole (with the whole curve down 14-17bps)…
Source: Bloomberg
The rally in bonds comes as the dollar’s demise continues with Q2 seeing the worst quarter for DXY since Q4 2022 (and the second worst quarter in 15 years) falling to its weakest since Feb 2022.
Source: Bloomberg
Worse still, the DXY dollar index is down over 10% YTD – its worst start to a year since 1973 (when the oil embargo started sending oil soaring, sparking runaway inflation)…
After rallying for the first four months of the year, gold has gone nowhere in the last two months, hovering near record highs, but unable to extend gains even as the dollar dived. Notably, the precious metal also broke below its 50DMA but found support (today) at its medium-term up-channel…
Source: Bloomberg
Bitcoin had a big quarter, rallying in all three months (but decelerating in June) to a record monthly closing high…
Source: Bloomberg
Amid Israel-Iran tensions (which have now retreated), oil soared to its best month since Sept 2023 in June (also up in May after April’s collapse). However, WTI is lower from close to close in Q2…
But, in the super-short-term, one leg of the supportive stool for stocks is about to kicked out as the buyback blackout begins…
…then brace for August.
One more thing…Households hold less cash and about the same amount of fixed income assets as they did 40 years ago as Goldman’s Peter Oppenheimer recently illustrated. But they have tripled their allocation to US stocks over this same period (see chart below).
Can the momentum continue or is it time to diversify? Oppenheimer recommends investors diversify across countries, sectors, factors, and size.
BIG NEWS OF THE DAY/
USA DATA RELEASES
USA ECONOMIC NEWS
“Political Suicide”: Musk Rages Against ‘Utterly Insane’ Senate Tax Bill That Will ‘Destroy Millions Of Jobs’
by Tyler Durden
Saturday, Jun 28, 2025 – 04:42 PM
Update (1718ET): Elon Musk has weighed in on the Senate’s latest iteration of President Trump’s tax and spending bill, calling it “utterly insane and destructive,” and that it will “destroy millions of jobs in America and cause immense strategic harm to our country!“
The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!
Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future. https://t.co/TZ9w1g7zHF
Meanwhile, Senate Republicans are marching toward an initial vote Saturday afternoon despite several GOP Senators expressing grave concerns.
Both Sens. Susan Collins (Maine) and Thom Tillis (North Carolina) are either “leaning against” or “no” on final passage. According to Politico, Trump “has personally reached out to Tillis to try to work him on the bill.”
If at least two other Republicans join Tillis to oppose the procedural vote Saturday afternoon, Senate leadership would have to rely on Vice President JD Vance to break a tie to move forward to debate the bill. Sens. Rand Paul (R-Ky.), Ron Johnson (R-Wis.), Mike Lee (R-Utah) and Tim Sheehy (R-Mont.) all have concerns that could drive them to vote against moving forward.
Johnson and Paul, who have been vocally opposed to the bill because of its impact on the national debt, met with the president on Saturday shortly before the vote, according to Lee.
According to Sen. Markwayne Mullin (R-OK), “We won’t bring it to the floor if we don’t have the votes,” adding “I think it’d be better to have the vice president close. I don’t know if we’re going to need him.”
*
Senate Republicans unveiled a revised version of President Trump’s $4.2 trillion tax package early Saturday morning, making targeted concessions on state tax deductions, Medicaid policy, and renewable energy provisions in an effort to unite their caucus ahead of a July 4 deadline set by the White House.
The updated draft reflects compromises among Senate GOP factions that have sparred for weeks over how aggressively to cut social safety net programs and whether to roll back clean energy incentives enacted under the Biden administration. The legislation, if passed, would serve as the centerpiece of Mr. Trump’s second-term economic agenda.
Senate Majority Leader John Thune announced that voting on the bill would begin Saturday afternoon, with a final vote potentially coming as soon as Sunday. If it does pass the Senate, Republican leaders have indicated they will call House members back to Washington early next week in hopes of sending the legislation to the president’s desk before Independence Day.
However, it remains uncertain whether all 50 Republican senators are prepared to back the measure. Senator Ron Johnson of Wisconsin said Saturday on Fox News that he would oppose beginning debate on the bill immediately, citing the need for more time. “This is an important bill,” Johnson said. “There’s no need to rush it.”
A Revised SALT Cap
To address concerns from House Republicans representing high-tax states, the new draft raises the cap on the state and local tax (SALT) deduction from $10,000 to $40,000 for five years. The cap would snap back to its original level thereafter, with a modest 1% annual increase during the interim period. The deduction would begin phasing out for taxpayers earning more than $500,000 annually.
A House provision aimed at curbing SALT workarounds used by pass-through businesses was stripped from the text. While fiscal conservatives have criticized the SALT compromise as overly generous, the deal is expected to secure the support of swing-district Republicans and has been endorsed by the White House.
Senate Republicans also removed a controversial Section 899 “revenge tax” on foreign companies and investors following concerns from Wall Street and a request from Treasury Secretary Scott Bessent.
Tax Relief and Medicaid Tweaks
The legislation makes permanent the individual and corporate tax cuts first enacted in 2017 and introduces new temporary breaks for tipped workers, seniors, and car buyers. In a nod to moderate Republicans, the revised bill creates a $25 billion rural hospital fund intended to mitigate the effects of Medicaid spending reductions that critics warn could threaten services in underserved areas.
Senator Susan Collins of Maine had pressed for a $100 billion allocation but has not yet commented on whether the smaller fund will earn her support.
The new version delays the full impact of a 3.5% cap on state Medicaid provider taxes from 2031 to 2032. The cap, which would begin phasing in by 2028, applies only to states that expanded Medicaid under the Affordable Care Act. Additionally, the bill imposes new work requirements for Medicaid recipients and would require ACA-expansion beneficiaries to contribute to their care through co-pays or deductibles.
Renewable Energy Rollbacks and New Land Sales
Republicans accelerated the phaseout of tax credits for wind and solar energy projects, now requiring such projects to be fully operational by the end of 2027 to qualify. That change, reportedly supported by Mr. Trump, could impact companies like NextEra Energy, the nation’s largest renewable developer.
Senate Democratic Leader Chuck Schumer criticized the change, warning on social media that the rollback would “jack up your electric bills and jeopardize hundreds of thousands of jobs.”
The bill also ends the $7,500 electric vehicle tax credit sooner than earlier versions proposed, cutting it off after September 30, 2025, including for used and commercial EVs.
A separate provision reinstated in the draft would authorize the sale of up to 1.2 million acres of federal land across 11 western states for housing and community development, a measure pushed by Senator Mike Lee of Utah. The plan could raise up to $6 billion but faces resistance from GOP senators in affected states.
Tax credits for hydrogen production, originally slated to end this year, would now continue through 2028 for projects started by then.
Broader Cuts and Debt Ceiling Increase
The legislation includes steep cuts to funding for the Consumer Financial Protection Bureau and federal food assistance programs, while increasing allocations for the U.S.-Mexico border wall. It preserves $15 million in funding for a task force to study alternatives to the IRS Direct File program, though it drops language that would have terminated the free filing service entirely — a defeat for tax software providers like Intuit.
A proposed tax on money transfers by non-citizens was scaled back from 3.5% to 1%, a win for companies like Western Union and MoneyGram.
Finally, the bill would raise the debt ceiling by $5 trillion, a move intended to avert a potential federal default projected for as early as August.
With internal GOP divisions still simmering, the path to final passage remains uncertain. Yet with Independence Day looming, Senate Republicans are betting that the new concessions will be enough to unify their ranks — and deliver a long-sought legislative victory for the president.
END
THE BBB
Senate Version Of Trump Tax Bill Adds $3.3 Trillion To Deficit, $500BN More Than The House; Debt Ceiling Raised By $5 Trillion
Monday, Jun 30, 2025 – 12:25 PM
The Senate version of President Trump’s Big, Beautiful Bill (BBB) will add nearly $3.3 trillion to US deficits over a decade, according to the latest estimate from the Congressional Budget Office, half a trillion more than the $2.8 trillion in deficit expansion under the House version of the same bill. That’s from a starting point with debt to GDP already in excess of 120% and the fiscal deficit sitting close to a peacetime record.
The CBO score for the so-called One Big Beautiful Bill reflects a $4.5 trillion decrease in revenues (i.e. tax cuts relative to the pre-TCJA baseline) and a $1.2 trillion decrease in spending through 2034, relative to a current law baseline.
The Senate bill, by Republican request, was also scored as saving $508 billion over a decade relative to a current policy baseline. The party’s lawmakers have sought to use the accounting maneuver to permanently extend President Donald Trump’s 2017 income-tax cuts, and score them as costing nothing.
While this approach is expected to pass, it effectively dooms the US to debt collapse as every subsequent administration will use the same tactic from now on and pretend that trillions in incremental spending every 4 years are really just an extension of the baseline. Meanwhile, the US is set to hit $40 trillion in debt in less than 2 years.
What does this mean? It means that Senate Republicans slapped a price tag on their tax package that is nearly 90% lower than the version that recently passed the House. They didn’t bring the price down by changing the policies in the One Big Beautiful Bill. Instead, the Senate simply changed the way they did the math.
Senate Republicans are using a new method to estimate the costs of their tax package that ignores the price of continuing any tax policy in effect when the bill is passed. That method of accounting, called the “current policy” baseline, lets the Senate advertise President Donald Trump’s tax package at one-tenth of its impact on the nation’s finances as estimated by Congress’s usual way of counting costs. If the costs were estimated in the traditional way, the Senate’s proposed tax package would add $4.2 trillion to the national debt, according to preliminary estimates from the nonpartisan Committee for a Responsible Federal Budget.
“This would be the biggest and maybe most economically costly gimmick in American history,” said Marc Goldwein, vice president of the Committee for a Responsible Federal Budget, in a post on X.
As a result, Senate Republicans have moved forward with a plan to mask the $3.8 trillion cost of extending expiring tax cuts. GOP senators voted Monday in favor of the plan to count the extension of Trump’s 2017 tax cuts as costing nothing, over objections from Democrats and despite concerns raised by economists about the US debt trajectory.
Republicans argue that using this accounting method, known as “current policy,” would allow them to include more tax cuts in Trump’s “One Big, Beautiful Bill.”
The cost of extending Trump’s first-term tax cuts, according to the Joint Committee on Taxation, totals $3.8 trillion. The other tax provisions in the bill cost nearly $693 billion, and only that smaller figure is considered in the official price tag for the bill.
Use of the current policy baseline is unprecedented for the reconciliation process the Republicans are using to approve the massive legislation with a simple majority. The cost of a bill is normally measured according to what effect it would have on the federal budget under current law. But the Republicans want to revise the process by assuming that current policies remain in place indefinitely.
The reason for this accounting gimmickry is that the bill’s staggering cost – which ends up adding substantially to the deficit instead of cutting it as some had expected as recently as weeks ago – has been a big problem for fiscal conservatives. It has faced several obstacles in the Senate as lawmakers have demanded conflicting changes. Then a number of spending cuts included in the package were changed as they did not comply with Senate rules for the reconciliation process.
Democrats and some economists argue that use of the current policy baseline allows GOP lawmakers to circumvent rules that would otherwise limit the bill’s fiscal effects. That, they say, imperils the nation’s fiscal trajectory although with the US already facing guaranteed debt collapse, may as well go full throttle.
“Republicans can use whatever budgetary gimmicks they want to try and make the math work on paper,” Senate Minority Leader Chuck Schumer said Sunday. “But you can’t paper over the real life consequences of adding tens of trillions to the debt.”
“Even a preschooler knows this is magic math,” said Patty Murray of Washington State, the top Democrat on the Senate Appropriations Committee. She accused Republicans of “trashing the rules” to pass the bill.
Senator Lindsey Graham of South Carolina said that Republicans aren’t doing “anything sneaky.”
“The bottom line is we are going to make the tax cuts permanent,” he said.
The vote allows Republicans to circumvent rules that would normally limit the fiscal impact of legislation passed through the fast-track reconciliation process. Economists have warned the legislation, regardless of how it’s counted, would still add trillions to deficits.
As noted above, the cost of the Senate bill is higher than the CBO’s $2.8 trillion projected cost of the version passed by the House last month, which also accounts for economic effects and higher interest rates spurred by larger debt loads.
As Bloomberg notes, the legislation encompasses much of Trump’s economic agenda: in addition to the 2017 tax break extension, effectively making it permanent, it would make make various spending cuts to safety net programs, including Medicaid and the Supplemental Nutrition Assistance Program, or food stamps.
The Senate version made three business tax breaks permanent, limits deductions on new tax breaks on workers’ tips and overtime and includes changes to some of the Medicaid provisions.
House and Senate Republicans have also reached a deal to alter the cap on federal deductions for state and local taxes. That limit will remain at the $40,000 limit set in the House bill, but it will be limited to a five-year period, rather than 10 years.
Of course there is a simple way to keep track of how much is being spent by the US government, and that’s simply to add up US federal government spending, using operating cash withdrawals from the Treasury’s cash balance as proxy. It hardly needs to be explained.
All accounting gimicks aside, at the end of the day just one number matters, and it’s pretty clear: the House version of the BBB seeks to add $4 trillion to the debt ceiling, pushing it to $40 trillion. The Senate version: $5 trillion.
In retrospect, Andrew Yang’s take that the Big Beautiful Bill should be called the BBB Act because that’s what the US Credit Rating will be in a few years, will end up being optimistic.
The Big Beautiful Bill should be called the BBB Act because that’s what the US Credit Rating will be in a few years.
Hedge Fund CIO: “Trump Has Decided To Go For Broke, And Pump This Economy Into A Boom To Grow Our Way Out Of Debt”
Monday, Jun 30, 2025 – 11:20 AM
By Eric Peters, CIO of One River Asset Management
“He tried to cut spending through peace,” barked Biggie Too. “But the war in Ukraine is raging on. And now he got this new taste for B2s and bunker busters,” bellowed Biggie, Chief Global Strategist for one of Wall Street’s too-big-to-fail affairs.
“And he tried to DOGE discretionary spending, but that was a bust too.” Indeed. “So, looks like he’s going to go for broke and pump this economy into a boom to grow our way out of debt,” he said. “He’s saying, ‘gimme everything now,’ and if there’s inflation next year, the Fed can always hike.” And Biggie broke into one of his devious little smiles, a lover of booms, bubbles, busts. “If we couldn’t get the 30yr yield to hold above 5% with all this crap going on, then why can’t the stock market trade at 30x earnings?”
* * *
“Daddy has to sometimes use strong language to get them to stop,” said Mark Rutte, Secretary General of NATO, referencing Trump’s use of profanity to admonish both Israel and Iran.
No sooner had the US bombed Fordow, Natanz, and Isfahan, then Trump negotiated a truce, an end to what the world prays will be a 12-day war. Talks are planned for some sort of deal with the Ayatollah. A business deal.
You see, Trump couldn’t force America’s oil execs to drill baby drill, but if he can end Iran’s enrichment program and back off, ever so slightly, from the threat of regime change, we’ll see a wave of Persian crude wash across Gulf.
“I hear nations asking, ‘Hey Mark, will the US remain with us?’ It struck me as similar to a young child asking their father, ‘Hey, are you still going to stay with us?,” said Rutte.
NATO nations agreed to spend 5% of GDP on defense, folding to pressure from the US president. US and European defense companies celebrated. Cold wars are great for business (innovation too). EU GDP is 10x that of Russia, while Europe’s population is 3x Russia’s.
So, you can bet that with the EU finally committing real money, a settlement between Russia and Ukraine has shifted forward.
Which means a flood of Russian energy to the global market is on the horizon. Great for economic growth, for profit margins, prosperity.
And Trump announced that we’ve got a framework for a trade deal with China. Nine other nations too. And Europe agreed to not tax America’s tech companies.
The US will soon pass One Big Beautiful Bill. And with midterm elections no longer so far away, the risks of something like Liberation Day tariffs are receding.
Because Trump cannot afford to lose them, so it’s full speed ahead for the economy, for deal making, for business. Which is what America is, a business.
END
Justice Kagan’s Own Words Come Back To Haunt Her On Nationwide Injunctions
The Supreme Court’s 6-3 decision in Trump v. CASA, Inc., released Friday, finally put the brakes on the reckless abuse of nationwide injunctions by lower courts—and has Democrats in full meltdown mode. The left’s favorite judicial weapon just got neutered, and the hypocrisy is impossible to ignore.
The liberal wing of the court didn’t do itself any favors, either. Justice Ketanji Brown Jackson’s dissent was so horrible that Justice Amy Coney Barrett felt compelled to call it out in the majority opinion.
But Justice Elena Kagan’s credibility also took a direct hit. In a stunning display of judicial flip-flopping, Kagan’s own words from 2022 have come back to haunt her, exposing the left’s all-too-familiar habit of changing the rules when it suits their political objectives.
Nationwide injunctions have been the left’s go-to tactic for derailing conservative policy at the stroke of a single judge’s pen. Under Trump, district judges from deep-blue enclaves repeatedly issued sweeping orders to block administration policies nationwide at an unprecedented pace, no matter how tenuous the legal grounds.
Despite all the apocalyptic rhetoric, there’s no doubt that the left’s current position on nationwide injunctions is purely political—and Justice Elena Kagan accidentally proved it.
How? Well, Justice Kagan, who dissented in this case, was singing a very different tune just a couple of years ago.
Back in 2022, when President Biden was in the White House and conservatives were the ones seeking relief from his executive orders, Kagan was openly skeptical of nationwide injunctions.
“This can’t be right that one district judge can stop a nationwide policy in its tracks and leave it stuck for the years that it takes to go through a normal process,” she said.
That’s not some out-of-context paraphrase—it’s her own words, on the record.
Fast forward to 2025, and suddenly Kagan’s skepticism has evaporated. Now that Donald Trump is back in the Oval Office, she’s all-in for the same judicial overreach she once panned. It just goes to show you who the real partisans on the court are. They aren’t adhering to any particular judicial philosophy or the Constitution, they care only about whether a particular ruling hurts or benefits the Democratic Party.
This isn’t just about one justice’s hypocrisy. It’s a window into the left’s broader approach to power. When they control the levers of government, they demand deference and restraint from the courts. When they’re out of power, they want unelected judges to act as a permanent veto against any policy they dislike. It’s not about the Constitution or the separation of powers—it’s about maintaining their grip on the bureaucracy by any means necessary.
The Supreme Court’s decision in Trump v. CASA, Inc. is a must-needed correction, that frankly, should have been bipartisan. It restores a measure of balance and puts an end to the judicial free-for-all that has plagued our system for far too long. And if Justice Kagan and her allies are upset, maybe they should reread their own words from just a few years ago. Consistency, after all, used to be a virtue. But in today’s Democratic Party, it’s just another casualty of the endless war for power.
The Supreme Court just restored the rule of law—and the left can’t handle it.
VICTOR DAVIS HANSON
A NEWS/ANTISEMITISM..
KING NEWS
The King Report June 30, 2025 Issue 7523
Independent View of the News
Supreme Court Strikes Down Courts Applying Universal Injunctions (Monumental ruling!) The court ruled, 6-3, that “universal injunctions likely exceed the equitable authority that Congress has given to federal courts.” The case stems from a lower court injunction blocking the Trump administration’s executive order on birthright citizenship, laying out clear rules for courts utilizing universal injunctions going forward…https://x.com/RobertBluey/status/1938602142035591278# Barrett wrote that “the universal injunction was conspicuously nonexistent for most of our nation’s history.”… Barrett targeted Jackson’s dissent for special scorn. Jackson “chooses a startling line of attack that is tethered neither to these sources nor, frankly, to any doctrine whatsoever,” Barrett wrote. “Waving away attention to the limits on judicial power as a ‘mind-numbingly technical query,’ … she offers a vision of the judicial role that would make even the most ardent defender of judicial supremacy blush.”… https://www.dailysignal.com/2025/06/27/supreme-court-upholds-strikes-down-courts-applying-universal-injunctions/
@seanmdav: In her majority opinion for the Supreme Court nuking universal injunctions, Amy Coney Barrett also juked Ketanji Brown Jackson from orbit. “We will not dwell on Justice Jackson’s argument, which is at odds with more than two centuries worth of precedent, not to mention the Constitution itself. We observe only this: Justice Jackson decries an imperial Executive while embracing an imperial Judiciary.”https://t.co/je6FsoXxCi
@nicksortor: Amy Coney Barrett absolutely TORCHED Ketanji Brown Jackson in her opinion. Even Jackson’s colleagues think she’s an absolute clown. Basically accusing Jackson of being too dumb to read “legalese” (“Justice Jackson skips over that part. Because analyzing the government statute involves boring ‘legalese’…”) https://x.com/nicksortor/status/1938604777904206148/photo/1
@TomFitton: I don’t recall any recent Supreme Court opinion that so directly denounces and renounces a dissent, in this case by the leftist Biden appointee Justice Jackson: (Full smack down at link) https://x.com/TomFitton/status/1938624993761361954
“Rhetoric aside, JUSTICE JACKSON’s position is difficult to pin down.”
Turley: The Chilling Jurisprudence of Justice Ketanji Brown Jackson The tenor of Jackson’s language shocked not just many court watchers, but her colleagues… Not long ago, the Court was rocked by the leaking of the draft of the Dobbs decision overturning Roe v. Wade. That was followed by furious protests against conservative justices at their homes and an attempted assassination of Justice Brett Kavanaugh… in May, Chief Justice John Roberts was clearly fed up with Justice Sotomayor interrupting government counsel with pointed questions and commentary, finally asking Sotomayor, “Will you please let us hear his answer?”… This hyperbole seemed to border on hysteria in the Jackson dissent. The most junior justice effectively accused her colleagues of being toadies for tyranny… Liberals who claim “democracy is dying” seem to view democracy as getting what you want when you want it… Justice Barrett clearly had had enough with the self-aggrandizing rhetoric… the danger to democracy is found in judges acting like kings. Barrett explained to her three liberal colleagues that “when a court concludes that the Executive Branch has acted unlawfully, the answer is not for the court to exceed its power, too.”… The last term has laid bare some of the chilling jurisprudence of Justice Jackson, including a certain exasperation with having to closely follow the text of laws…what Jackson refers to as “legalese” is the heart of the judicial function in constraining courts under Article III. Untethered by statutory or constitutional text, it allows the courts to float free from the limits of the Constitution… https://jonathanturley.org/2025/06/28/the-chilling-jurisprudence-of-justice-ketanji-brown-jackson/
It is extremely rare, if not unprecedented, for a SCOTUS opinion to mock and denigrate a fellow SCOTUS Justice. But Justice Jackson is appalling unqualified and as Constitutional Law expert Turley notes, has a bizarre and destructive view that judges can just make up laws and ignore laws.
Besides her insanely idiotic opinions, Justice Jackson has infuriated 6 SCOTUS Justices with her routine and strident leftist braying in public forums and settings. This debases and delegitimizes the SCOTUS.
It is highly probable that Chief Justice Roberts had Justice Barrett pen the Justice Jackson smackdown to stymie media and Dem cries of ‘sexism.’
Justice Kagan (never a judge, BHO’s Solicitor General) in 2022 was against universal injunction when Biden-Team Obama ran the WH. Now, she is for them. H-Y-P-O-C-R-I-T-E!
@KatiePavlich: A reminder about what Justice Kayan said about a single judge trying to derail a president’s agenda/nationwide policyhttps://t.co/lNi127R23W
Leftist Justice Sotomayor had a hissy fit and spewed deceit, absurdities, and violence-inciting remarks.
“No right is safe in the new legal regime the Court creates. Today, the threat is to birthright citizenship. Tomorrow, a different administration may try to seize firearms from law-abiding citizens or prevent people of certain faiths from gathering to worship.” — Sotomayor’s dissent.
When leftists don’t get their way, it’s ‘the end of democracy’ and the implementation of ‘fascism.’ Most people realize their deceit; but the mentally unbalanced absorb the hate and often act on it.
When voicing concern about coming inflation, Powell has referenced consumer surveys. He didn’t specify the survey because the UM survey is the only one that shows significant inflation. And everyone knows the UM survey is bogus because it oversamples Dems that hold TDS-inspired inflation delusions.
June UM Sentiment 60.7, 60.5 exp and prior; Current Conditions 64.8, 63.2 expected, prior 63.7; Expectations 58.1, prior 58.4; 1-year Inflation 5%, 5.2% exp, 5.1% prior; 5-10-year Inflation 4%
@ClevelandFed: The Cleveland Fed’s median PCE inflation rate was 0.2% in May and 3% on a year-over-year basis. Latest update: http://clefed.org/PCE
@stlouisfed: The trimmed mean PCE inflation rate declined to 2.55% for the 12 months ending in May. For more on the @DallasFed alternative measure of core inflation: https://ow.ly/J2tH50WhMRH
May Personal Spending -0.1%, +0.1% expected. May PCE 0.1% m/m & 2.3% y/y as expected May Core PCE 0.2% m/m & 2.7% y/y; 0.1% m/m & 2.6% expected and prior
US stocks rallied sharply on Friday morning, led by Fangs, of course. Stocks tumbled after this:
And possibly DJT halting Iran sanction relief: Why would the so-called “Supreme Leader,” Ayatollah Ali Khamenei, of the war torn Country of Iran, say so blatantly and foolishly that he won the War with Israel, when he knows his statement is a lie, it is not so. As a man of great faith, he is not supposed to lie… I demanded that Israel bring back a very large group of planes, which were heading directly to Tehran, looking for a big day, perhaps the final knockout!… During the last few days, I was working on the possible removal of sanctions, and other things, which would have given a much better chance to Iran at a full, fast, and complete recovery – The sanctions are BITING! But no, instead I get hit with a statement of anger, hatred, and disgust, and immediately dropped all work on sanction relief, and more. Iran has to get back into the World Order flow, or things will only get worse for them. They are always so angry, hostile, and unhappy, and look at what it has gotten them – A burned out, blown up Country, with no future, a decimated Military, a horrible Economy, and DEATH all around them… I wish the leadership of Iran would realize that you often get more with HONEY than you do with VINEGAR. https://truthsocial.com/@realDonaldTrump/posts/114756430889057942
ESUs traded sideways but mostly modestly positive from the Nikkei opening on Friday until the rally for the 2 ET European opening began after 1 ET. ESUs peaked at 6215.00 just 27 minutes after the European opening. After a modest retreat, ESUS traded in a 5-handle range until they rallied after the 7 ET US cash bond market opening.
After hitting a then-daily high of 6t219.00 at 8:00 ET, ESUs fell to 6202.00 at 9:27 ET. ESUs then went nearly vertical, hitting 6230.00 at 10:09 ET. After a10-range ‘W’ consolidation, ESUs marched to the daily high of 6239.00 at 12:33 ET. Then Trump happened; ESUs tumbled to a daily low of 6183.25 at 14:40 ET. A blatant and manic late manipulation forced ESUs to 6226.75 at 15:56 ET.
USUs fell moderately; Gold tumbled over $60.00. Gasoline fell sharply; oil rallied modestly.
Positive aspects of previous session US stocks, led by Fangs, rallied on Q2 performance chasing and gaming on Friday morning. A blatant and aggressive last-hour manipulation save stocks. The S&P 500 Index, Nasdaq, the Nasdaq 100, and the NY Fang+ Index hit all-time highs Precious metals sank.
Negative aspects of previous session Stocks and ESUs peaked at 12:29 ET. USUs closed -15/32.
Ambiguous aspects of previous session How intense will be Q2 performance chasing and gaming today?
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Up
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 6164.37 Previous sessionS&P 500 IndexHigh/Low: 6187.68; 6132.35
Hamas chief ‘who masterminded October 7 attack’ is killed by Israeli airstrike, IDF sayhttps://t.co/NA14b226z6
@Osint613: Trump says the U.S. will demand external control over Iran’s nuclear program—possibly via the IAEA or direct American oversight. He warns: If Iran is caught enriching uranium again, military force is back on the table.
@NiohBerg: President Trump saved both Khamenei’s life and the regime in Iran, hoping it would change their behaviour. Today, the regime showed their gratitude by issuing a fatwa against him, calling for his death. There is a lesson here. This time made by Ayatollah Noori Hamedani. This is the second ayatollah today commanding muslims to kill the US President. Trump should not have enacted this ceasefire. (considered a legal ruling in Islam) https://x.com/NiohBerg/status/1939407580247511126 Fox News is now telling Trump to his face what I’ve reported over the past days since the war ended. Stopping the war sentenced countless Iranians to killing sprees by the regime. It’s important that the President is fully aware of this consequence. (“Executed more Iranian civilians in the past 48 hours than the number of Iranians who died in the 12-day war.” – Bartiromo) [Just like Bush I after he called for regime change in Iraq after Gulf War I] https://x.com/NiohBerg/status/1939459740582466044
WaPo: Intercepted call of Iranian officials downplays damage of U.S. attack The officials were heard saying Trump’s strike on Iran proved less devastating than expected. The administration calls the intelligence insignificant. (Another felony leak of national intel!) Putin: Thanks to Trump, the US and Russia are beginning to align President Vladimir Putin said on Friday that Russia plans to reduce its military spending starting next year, in contrast to NATO’s recent pledge to increase defence expenditures over the next decade… “But here’s the key point: We are planning to cut defence spending. Not just next year, but over the next three years. That’s our trajectory… Meanwhile, Europe is thinking about how to increase its defence budget. So who’s actually preparing for aggression—us or them?” Putin asked… https://unusualwhales.com/news/putin-thanks-to-trump-the-us-and-russia-are-beginning-to-align
@grayzoneintel: I’m no Supreme Court historian. I’m sure we’ve had bad justices before. But this Ketanji Brown Jackson s*** really just shows how deep the institutional decay is. This applies to Democrats AND Republicans, too. I just read Ray Dalio’s report back on his meeting with R+D members of Congress who admitted that they know they to reduce the federal deficit from 6% to 3% in order to avoid a debt crisis, but they either can’t cut spending or raise taxes because they won’t be re-elected. They can’t do something VITAL to prevent a debt crisis because they’re too worried about their re-election. So instead, we’re going to get this BBB followed by a continuing resolution while we skate into a sovereign debt crisis.
@nicksortor: Washington Post Editor Thomas LeGro has just been ARRESTED for possessing child p*rnography, per US Attorney Jeanine Pirro LeGro’s WORK LAPTOP contained 11 videos depicting child s*xual abuse material.
You know what’s stupid, Don? Advocating for 1% Fed Funds. Read the markets, genius! Gold and stocks soaring; dollar down sharply. A 1% would make things worse and would kill US bonds! And, you and your family are shilling for cryptos. Isn’t this an egregious conflict of interest?
Powell should have been forced to resign long ago for facilitating the greatest inflation since the last 70s; for repeated lying and deceit; for climate change and DEI involvement; lying that the Fed isn’t political and doesn’t comment on fiscal policy while inveighing against tariffs; for asserting that ‘the Fed is data driven’ and changing to ‘the Fed is forecast driven’ – even though Powell and the Fed’s forecasts are abysmal – to rationalize not cutting rates; and most of all for the jumbo 50bp rate cut within two months of the general election. Powell has done more to discredit the Fed, including its supposedly nonpolitical character, than any Fed Chair since G. William Miller, who fostered the great inflation of the late ’70s while abetting Jimmy Carter.
During the 2024 campaign Powell slyly advocated for immigration, opposing Trump. Then the weasel said the Fed doesn’t comment on immigration policy. Powell has repeatedly commented on fiscal policy.
If Powell didn’t make the political 50bp cut ahead of the election and 25bp cut in December (pre-DJT term), the Fed would have cut during DJT term. To reiterate, we do NOT think that the Fed should cut now based on global asset inflation and dollar weakness.
What Powell should have done long ago was REDUCE reserves in the system. The Fed error of the ’70s was trying to control inflation with rate hikes. Volker halted inflation by ignoring interest rates and reducing reserve growth. Powell is a globalist/elitist that detests DJT and his policies. He was appointed to the Fed by Obama in 2012, and was an Undersecretary of the Treasury under Bush I. Jay worked at Dillon Reed from 1984 to 1990, where Bush I Treasury Secretary Nick Brady was CEO. Jerome was a managing director at Bankers Trust and a partner at the Bush I alumni & PE firm Caryle.
Musk: The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm… It gives handouts to industries of the past while severely damaging industries of the future.
@realDonaldTrump on Sunday evening: For all cost cutting Republicans, of which I am one, REMEMBER, you still have to get reelected. Don’t go too crazy! We will make it all up, times 10, with GROWTH, more than ever before. (DJT tells GOPers to NOT cut spending too much, or they will lose!)
Today – The usual suspects will play for the Monday Rally and Q2 performance gaming and chasing. This is why ESUs are +14.25; NQUS are +68.25; USUs are -1/32; and Gold is -8.70 at 19:25 ET.
Expected Economic Data: June Chicago PMI 43; June Dallas Fed Mfg. Activity -14.0
Fed Speakers: Atlanta Pres Bostic 10:00 ET, Chicago Pres Goolsbee 13:00 ET
S&P Index 50-day MA: 5809; 100-day MA: 5773; 150-day MA: 5846; 200-day MA: 5830 DJIA 50-day MA: 41,750; 100-day MA: 42,070; 150-day MA: 42,618; 200-day MA: 42,5682 (Green is positive slope; Red is negative slope)
S&P 500 Index (6173.07 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender is positive; MACD is negative – a close below 5807.26 triggers a buy signal Weekly: Trender and MACD are positive – a close below 5383.26 triggers a sell signal Daily: Trender and MACD are positive – a close below 6030.13 triggers a sell signal Hourly: Trender is positive; MACD is negative – a close below 6140.47 triggers a sell signal
Zohran Mamdani doubles down on plan to target ‘whiter neighborhoods’ with higher taxes — and says billionaires shouldn’t existhttps://trib.al/PAFlgmw
@WesternLensman: Mamdani is unapologetic about language in his plan that would tax “whiter” neighborhoods at higher rates: “It’s not driven by race….I’m just naming things as they are.” https://x.com/WesternLensman/status/1939320642492661924
@nicksortor: The DOJ is considering launching an investigation into communist Zohran Mamdani over his RACIST proposal to increase taxes specifically on White people. “Racial discrimination is illegal in the United States – period. Full stop! The illegal discriminatory scheme described by Mamdani would violate federal constitutional and statutory norms, and might even violate New York law,” Asst AG Harmeet Dhillon said.
Trump calls Mamdani a ‘pure communist,’ threatens to cut off NYC federal funds if he’s elected mayorhttps://trib.al/LqKjGaA
@jenniferzeng97: Who’s really behind Zohran Mamdani’s sudden rise among Asian voters? Meet John Liu, a New York politician with a past full of fraud scandals, Chinese consulate ties, and foreign donation suspicions. I first exposed his dirty money trail in 2011. Now he’s back—and pushing Mamdani for mayor. (“Liu’s CCP ties raise serious questions”)… New York City and Beijing are sister cities… https://x.com/jenniferzeng97/status/1938685002385916304
@RenuMukherjee1: Mamdani’s mother is a world-famous, Academy Award-nominated Bollywood director worth tens of millions of dollars. His father is a chaired professor at Columbia. He is, in effect, a perpetual theatre kid who’s pretending to be “Third World.” It’s all so, so performative + stupid.
NYC mayoral nominee’s anti-Israel views, political rise closely tied to Palestinian activist Sarsour Zohran Mamdani characterized the mayor’s race as a “fight for Palestinian freedom.” The Democratic Socialist, who could be the next mayor of America’s biggest city, has a yearslong affiliation with infamous Palestinian-American activist Linda Sarsour… https://justthenews.com/nation/states/zohran-mamdani-possible-next-mayor-nyc-has-close-ties-infamous-linda-sarsour
@robkhenderson: Mamdani is the candidate of the “haves,” who disguise their rage at the “have-mores” as concern for the “have-nots” (who don’t support Mamdani). The typical pattern you see with socialist movements in general. (Profound & historically accurate assessment of radicals/revolutionaries)
PS – Lenin was middle class; Trotsky was from a wealthy family; Che was a doctor & upper middle class. Freddie Engels was the son of a wealthy textile manufacturer. Karl Marx’s father was a lawyer.
@SamAntar (AKA ‘Crazy Eddie’): In The Accountant, Ben Affleck solves the case by cracking the “Panama pump”—the Crazy Eddie fraud I built before Mamdani was born. Today? Zohran’s “grassroots” machine runs on public $$ laundered through Make the Road NY & its (c)(4). He’s not fighting corruption. He’s copying. https://x.com/SamAntar/status/1938642365268258908?t=-2BhbLJ1eyx2GrqabHd2jA&s=03
America’s foreign enemies are funding and promoting political candidates and leftist protestors.
@realDonaldTrump: Congressman Kevin Kiley’s, “NO TAX DOLLARS FOR RIOTS” legislation should be passed immediately. I am hereby instructing my Administration not to pay ANY money to these radicalized groups, regardless of the legislation. They get paid to incite riots, burn down or destroy a city, then come back to the trough to get money to help rebuild it. NO MORE MONEY!!!
@libsoftiktok: SCOTUS rules Montgomery County School Board’s use of LGBTQ+ storybooks without opt-out VIOLATES Free Exercise Clause. Schools MUST notify parents & allow opt-outs. The Court held that reading these books in elementary classrooms imposes a “very real threat” to parents’ rights to direct their children’s religious upbringing. HUGE WIN FOR PARENTS AND SANITY
Education Sec @EDSecMcMahon: The Supreme Court’s ruling in Mahmoud v. Taylor is a major win for religious liberty and parental rights. The Court rightfully held that schools can’t shut parents out or disregard their religious obligations to their children… https://t.co/eZkT8Qu7kY
The SCOTUS ruled 6-3 states can protect kids from porn by requiring age verification (Upheld Texas law). Of course, the 3 leftist women voted against this!
DOJ forced top lawyer to register as foreign agent for Burisma…but not Hunter Biden, bombshell files revealhttps://t.co/fOQUmmJlnY
Fox’s @BillMelugin_; An LA Times reporter has posted a video in which she coaches LA moms who hire illegal immigrant nannies on how to protect them from ICE and “limit risk” of an ICE encounter, including suggestions to give them “paid leave”, walk them to a bus stop, or call them a taxi to avoid public exposure. The video was shared and posted on the LA Times Instagram account. https://www.instagram.com/reel/DLYUcXbyvzm/
@WesternLensman: Dem Sen Chris Murphy is ANGRY that the border is secure and crossings are at an all-time low: “No, I don’t give [Trump admin] credit for that — border crossings are low because they’re violating the law.” “The border is just one example of many ways in which this administration doesn’t care about the law anymore.” Democrats are livid that their mass importation scheme has come to a grinding halt.He’s absurdly using asylum claims as cover. The reality is they are incensed that their illegal voters drive has been halted. https://x.com/WesternLensman/status/1939316148820132161
When Trump does something Dems dislike or that threatens their positions, it is ‘breaking the law’ or ‘a threat to democracy.’ PS – This is also violence inspiring rhetoric.
How deranged, delusional, and hateful are liberals?
@townhallcom: Elie Mystal: After that SCOTUS ruling, President Trump could hatch a plan to murder Canadian journalists — hypothetically! (Media chiefs enable hate-incitement and stupidity!) https://x.com/townhallcom/status/1938994085571788887 Anti-DJT House Republican Don Bacon announced that he will NOT seek reelection.
RINO Senator Tom Tillis (NC), who voted against DJT’s Big Beautiful Bill and other DJT’s action said he would NOT seek reelection after Trump blasted him early on Sunday. An irrefutable Trump accomplishment: Driving out RINOs and transforming the GOP.
Top local NY Dem tipped off accused child molester before bust, new lawsuit claims: ‘She needs to resign’ (She needs to be prosecuted!) https://t.co/k4KyhmkHPk
@amuse: ELECTION INTEGRITY: Democrats nationwide are resisting efforts to clean up voter rolls. When the Department of Justice discovered that Orange County had noncitizens on its voter rolls, it requested details about these ineligible voters. Orange County has refused to comply, prompting the DOJ to file a lawsuit to obtain the records.
It is obvious that Dems have been engaged in massive voter fraud schemes for decades. They don’t even try to hide it now, probably because it is an existential need.
NFL coach Jim Harbaugh was added to a lawsuit against the University of Michigan and a former assistant football coach who is accused of hacking into the computer accounts of college athletes across the U.S. to look for intimate photos. (What is the matter with UM?) https://t.co/k7uNH2ArDf
“The most dangerous person is the one who listens, thinks, and observes.” — Bruce Lee
SWAMP STORIES FOR YOU TONIGHT
GREG HUNTER INTERVIEWING STEVE QUAYLE
Whole World is Going into a Meltdown – Steve Quayle
Renowned radio host, filmmaker, book author and archeological dig expert Steve Quayle is saying the recent wins in the Supreme Court on nationwide injunctions, Biden autopen scandal and Iran nuke program bombings are all setting America up for very hard times. The Deep State globalists are increasingly desperate and will now have to turn to more violent warfare to destroy America. Quayle says, “Everyone should learn the term ‘asymmetrical warfare.’ This is what you see when you are talking terrorism, refineries blowing up and wildfires being started at a much higher pace than ever before. These people don’t show up on your borders. In our case, we are being softened up by enemies from within. This interview should prepare people for the worst case. . . do what needs to be done to protect your family. . .. Does it surprise anyone that all of the rage you see starting to raise its head is in the blue cities? The United States of America is undergoing a communist takeover and takedown of this country. These are not peaceful riots, and notice how the Democrat Party is out of money after spending like mad crazy people.”
Quayle contends the financial system is teetering on failure. Both Japan and Germany are in big trouble, and America and the rest of the world are not far behind. Quayle says, “Japan loaned out money at a 0% interest rate. It’s called the yen carry trade. The problem is now all the collateral that backed that up is failing. . .. I think the whole system is in the process of coming down. Look at insurance and big investment houses. They all have big investment and are heavily ladened with commercial real estate. . . . When you have the failing of the underlying capital that the loans were made on, it’s just like dominos, and the dominos are already falling. People only pay attention to the stock market, but it’s the bond market where all of the power lies. . .. The global financial outlook is dangerous, perilous and to quote Gerald Celente, ‘when all else fails, they take you to war.’”
Quayle says the war with Iran is far from over, and cycle expert Martin Armstrong (a regular guest on USAWatchdog)agrees with Quayle. Armstrong predicts the Iran-Israel war heats up again in August. Quayle says, “All the background information I am getting is saying whoa, meaning the entire terrorist and computer cyber teams are working to take down the grid. When they take down the grid, there will be no water unless you are on your own well, but you better have power to run the well pump. The best point I can make is everything we have enjoyed under the blessings of The Living God, everything we have taken for granted is going to be taken from us.”
Quayle expects there to be food shortages and global starvation because terrorists will attack the food supply. There is also much talk of more war. Quayle says, “These people are demonically infused and demonically instructed. This is why the whole world is going into a meltdown, and it will bring on the one world financial system. . .. Here’s the point we are at right now. The power is going down. Finances are going to crash. Food is not going to be available, unless you go to the black market. Everything denominated in US dollars is at risk. I am talking insurance policies, IRA’s, 401(k)s, defined benefit plans and your mortgages. . .. Nobody is coming to rescue you except Jesus.”
harveyorganblog.com 
