118 C MACQUARIE FUTURES US 24
332 H STANDARD CHARTERED B 510
363 H WELLS FARGO SECURITI 8
661 C JP MORGAN SECURITIES 620 46
686 C STONEX FINANCIAL INC 21 14
709 C BARCLAYS 35
737 C ADVANTAGE FUTURES 16 3
880 C CITIGROUP 14
905 C ADM 3
GOLD: NUMBER OF NOTICES FILED FOR JULY/2024: 657 CONTRACTs NOTICES FOR 65,700 OZ or 2.0435 TONNES
total notices so far: 7549 contracts for 754,900 OR 23.480 tonnes)
SILVER NOTICES: 459 NOTICE(S) FILED FOR 2.295 million OZ/
total number of notices filed so far this month : 7,396 CONTRACTS (NOTICES) for 36.980 million oz
EXCHANGE FOR RISK ISSUANCE FOR SILVER/MAY
JULY: 11.295 MILLION OZ
AND JULY: 40.340 MILLION OZ//
JULY: 351. 65 TONNES (3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL AND THE HIGHEST EVER RECORDED POST BASEL III)
AUGUST: 274.79 TONNES//THIS MONTH WILL NO DOUBT BE A STRONG ISSUANCE OF EFP’S BUT MUCH LESS THAN LAST MONTH.
SEPT: 335 .104 TONNES//IF THIS CONTINUES WE WILL HAVE A HUMDINGER OF AN EFP ISSUANCE. WE WILL PROBABLY END JUST SHORT OF THE 3RD HIGHEST ISSUANCE EVER RECORDED.
OCT. 277.71 TONNES (THIS WILL BE A GOOD ISSUANCE THIS MONTH)
NOV: 393.875 TONNES ( A HUGE MONTH////NOW SURPASSED THE PREVIOUS 3RD AND 2ND HIGHEST EVER RECORDED EX FOR PHYSICAL ISSUANCE TO BECOME THE 2ND HIGHEST EVER RECORDED
DEC 360.03 TONNES THIRD HIGHEST EVER RECORDED FOR EFP ISSUANCE
TOTAL 2024 YEAR. 3,597.846 TONNES
JAN. 2025: 257.919 TONNES (ISSUANCE WILL BE PRETTY GOOD THIS MONTH BUT MUCH LOWER THAN LAST MONTH)
FEB: 207.21 TONNES//EX FOR PHYSICAL ISSUANCE (WILL BE A FAIR SIZED ISSUANCE THIS MONTH)
MARCH 130.84 TONNES//QUITE SMALL THIS MONTH.
APRIL; 208.57 TONNES. STILL A SMALL TO FAIR ISSUANCE FOR THE MONTH.
MAY: 113.499 TONNES OF GOLD EFP ISSUANCE//QUITE SMALL THIS MONTH
JUNE: 97.79 TONNES OF GOLD EFP ISSUANCE/EXTREMELY SMALL
JULY : 17.962 TONNES
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 1478 CONTRACTS OI TO 162,803 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 323 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 323 CONTRACTS and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 323 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 1478 CONTRACTS AND ADD TO THE 323 E.FP. ISSUED
WE OBTAIN A HUGE SIZED LOSS OF 1030 OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES DESPITE OUR TINY LOSS IN PRICE OF $0.14 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 5.775 MILLION PAPER OZ
OCCURRED DESPITE OUR TINY $0.16 LOSS IN PRICE.
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENT
Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS
ASIAN MARKETS THIS TUESDAY MORNING:
SHANGHAI CLOSED DOWN 4.42 PTS OR 0.13%
//Hang Seng CLOSED DOWN 247.28 PTS OR 1.02%
// Nikkei CLOSED UP 132.47 PTS OR 0.33% //Australia’s all ordinaries CLOSED DOWN 0.58%
//Chinese yuan (ONSHORE) CLOSED DOWN AT 7.1828 OFFSHORE CLOSED DOWN AT 7.1877/ Oil UP TO 68.73 dollars per barrel for WTI and BRENT UP TO 70.51 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN DOWN TRADING AT 7.1728 AND WEAKER//OFF SHORE YUAN TRADING DOWN TO 7.1710 AGAINST US DOLLAR/ AND THUS WEAKER
XXXXXXXXXXXXXXXXXXXXXXXXXXXX
END
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 2800 CONTRACTS TO A STILL LOW NUMBER OF 443,380 OI WITH OUR STRONG LOSS IN PRICE OF $24.65 WITH RESPECT TO TUESDAY’S // TRADING. WE LOST SOME NUMBER OF NET LONGS WITH THAT PRICE LOSS FOR GOLD. AND AS YOU WILL SEE BELOW, OUR GAIN IN PRICE ALSO HAD A FAIR NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (1770 ). WE HAD LITTLE T.A.S. LIQUIDATION //TUESDAY TRADING.
THE CME ANNOUNCED TUESDAY 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 SMALL SIZED LOSS ON OUR TWO EXCHANGES OF 794 CONTRACTS WITH OUR STRONG LOSS IN PRICE. HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON TUESDAY 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 IN JANUARY 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 JUNE AND NOW 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 MEGA MEGA HUGE AS THE CME NOTIFIES US THAT THEY HAVE ISSUED 26,547 T.A.S CONTRACTS. IF HISTORY SERVES US CORRECTLY, WE WILL NOW ENDURE 4 MORE OF THESE MEGA HUGE ISSUANCE OF T.A.S. AS THE CROOKS NEED TO RAID OUR PRECIOUS METALS SOUTHBOND IN PRICE.
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 , FINAL STANDING WAS RECORDED AT 93.085 TONNES. (IS THE COMEX RUNNING OUT OF GOLD?)//TOTAL NET QUEUE JUMPING FOR THE JUNE MONTH: 31.027 TONNES. HOWEVER JULY IS HUGE FOR A NON DELIVERY MONTH WITH INITIAL STANDING AT 17.947 TONNES PLUS TODAY’S MAMMOTH QUEUE JUMP OF 2.370 TONNES QUEUE JUMP = 24.068 TONNES OF GOLD
NEW TOTAL TONNES STANDING JULY: 24.068 TONNES
THE FED IS THE OTHER MAJOR SHORT OF AROUND 10+ 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 229 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) IS NOW COMPLIANT EFFECTIVE 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 1770 EFP CONTRACT WAS ISSUED: : /AUGUST 1770 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 1770 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 :
- LITTLE LIQUIDATION OF OUR T.A.S. SPREADERS//
- SOME 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 WEDNESDAY MORNING/TUESDAY NIGHT WAS A MEGA MEGA AND CRIMINAL SIZED, 26,547 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 TUESDAY WITH THE HUGE LOSS 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
JULY: 17.947 TONNES INITIAL STANDING FIRST DAY NOTICE PLUS TODAY’S HUGE 2.370 TONNES QUEUE JUMP = 24.068 TONNES
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 54 MONTHS OF 2021-2025:
DEC 2021: 112.217 TONNES
NOV. 8.074 TONNES
OCT. 57.707 TONNES
SEPT: 11.9160 TONNES
AUGUST: 80.489 TONNES
JULY 7.2814 TONNES
JUNE: 72.289 TONNES
MAY 5.77 TONNES
APRIL 95.331 TONNES
MARCH 30.205 TONNES
FEB ’21. 113.424 TONNES
JAN ’21: 6.500 TONNES.
TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES
YEAR 2022: STANDING FOR GOLD/COMEX
JANUARY 2022 17.79 TONNES
FEB 2022: 59.023 TONNES
MARCH: 36.678 TONNES
APRIL: 85.340 TONNES FINAL.
MAY: 20.11 TONNES FINAL
JUNE: 74.933 TONNES FINAL
JULY 29.987 TONNES FINAL
AUGUST:104.979 TONNES//FINAL
SEPT. 38.1158 TONNES
OCT: 77.390 TONNES/ FINAL
NOV 27.110 TONNES/FINAL
Dec. 64.000 tonnes
(TOTAL YEAR 656.076 TONNES)
2023:STANDING FOR GOLD/COMEX
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK = 34.9627 TONNES
DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
2024/STANDING FOR GOLD/COMEX
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 11.9325
JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022
JULY: 11.692 TONNES
AUGUST 69.602 TONNES//FINAL STANDING
SEPT. 13.164 TONNES.
OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK =60.391 TONNES
NOV . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES
DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNES EQUALS 95.1066 TONNES
total year 2024: 540.30 tonnes
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
COMEX GOLD TRADING/JULY CONTRACT MONTH
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $24.65/ /) AND THEY WERE SUCCESSFUL IN KNOCKING OFF SOME NET SPECULATOR LONGS AS WE DID HAVE A FAIR SIZED LOSS IN OI FROM TWO EXCHANGES. AND AS EXPLAINED ABOVE WE HAD LITTLE T.A.S. SPREADER LIQUIDATION ////TUESDAY. THE BANKERS ARE QUITE NERVOUS ABOUT BASEL III WITH ITS IMPLEMENTATION COMMENCING JULY 1. THEY ARE VERY CONCERNED WITH THEIR HIGH AMOUNT OF DERIVATIVES LOSSES ON THEIR BOOKS. THUS THE REASON THEY NEEDED THESE MEGA MEGA T.A.S. ISSUANCES, WEDNESDAY MORNING TUESDAY EVENING, IN ORDER TO COMMENCE CONTINUAL RAIDS ON OUR PRECIOUS METALS.
WEDNESDAY MORNING//TUESDAY 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 TUESDAY EVENING WEDNESDAY 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 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 OF APRIL//TOTAL ISSUANCES 7 FOR 8.3571 TONNES OF GOLD!:
ISSUANCE FOR EXCHANGE FOR RISK ON FIRST DAY NOTICE//APRILL MONTH// WAS 700 CONTRACTS FOR 70,000 OZ OR 2.177 TONNES OF GOLD TO WHICH WE ADD (APRIL 4) : 250 CONTRACTS FOR 25,000 OZ OR .777 TONNES, APRIL 7 ISSUANCE OF 280 CONTRACTS FOR 28,000 OZ OR .8709 TONNES THEN APRIL 9 484 CONTRACTS FOR 48400 OZ OR 1.5054 TONNES AND FINALLY MONDAY MORNING APRIL 14 AT 200 CONTRACTS FOR 20,000 OZ OR .5816 TONNES AND NOW APRIL 24: 600 CONTRACTS FOR 60,000 OZ OR 1.866 TONNES AND NOW APRIL 25 187 CONTRACTS FOR 18700 OZ OR .5816 TONNES//NEW FINAL TOTAL ISSUANCE FOR APRIL: 8.3571 TONNES!!. APRIL ISSUANCE OF EXCHANGE FOR RISK MEANS WE NOW HAVE 5 CONSECUTIVE MONTHS FOR EXCHANGE FOR RISK ISSUANCE. THESE DELIVERIES WERE ADDED TO OUR NORMAL DELIVERY CYCLE.
MAY ISSUANCE OF EXCHANGE FOR RISK NOW TOTALS 3 ISSUANCES FOR 308,350 OZ. THIS TOTALS 9.591 TONNES OF GOLD WHICH WILL BE ADDED TO OUR REGULAR DELIVERY SCHEDULE. THE RECPIENT OF THIS LARGESS IS THE BANK OF ENGLAND.
JUNE ISSUANCE: ZERO
JULY ISSUANCE; ZERO SO FAR
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
ANALYSIS JULY DELIVERY MONTH GOING FROM FIRST DAY NOTICE// JULY COMEX CONTRACT
WE HAVE LOST A SMALL SIZED TOTAL OF 3.203 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR JULY FIRST RECORDED AT 17.947 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S STRONG QUEUE JUMP OF 76,200 OZ OR 2.370 TONNES OF GOLD//NEW STANDING ADVANCES TO 24.068 TONNES
ALL OF THIS QUITE GOOD STANDING FOR JULY WAS ACCOMPLISHED DESPITE OUR LOSS IN PRICE TO THE TUNE OF $24.65
WE HAD 236 CONTRACTS REMOVED TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL.
NET LOSS ON THE TWO EXCHANGES 1030 CONTRACTS OR 103000 0Z (3.203 TONNES)
confirmed volume TUESDAY 270,387 contracts FAIR
speculators have left the gold arena
END
INITIAL GOLD COMEX
JULY CONTRACT MONTH
JULY 9/2025
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 0 ENTRY . 0 ENTRY |
| Deposit to the Dealer Inventory in oz | 0 ENTRY |
| Deposits to the Customer Inventory, in oz | 0 ENTRY i xxxxxxxxxxxxxxxxI |
| No of oz served (contracts) today | 657 notice(s) 65,700 OZ 2.0435 TONNES |
| No of oz to be served (notices) | 189 contracts 18900 OZ 0.5878 TONNES |
| Total monthly oz gold served (contracts) so far this month | 7549 notices 754,900 oz 23.480 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
0 ENTRY
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
customer withdrawal
0 ENTRY
adjustments: 0
AMOUNT OF GOLD STANDING FOR JUNE
THE FRONT MONTH OF JULY STANDS AT 846 CONTRACTS FOR A HUGE GAIN OF 339 CONTRACTS. ON TUESDAY WE HAD 423 NOTICES FILED SO WE GAINED A MAMMOTH 762 CONTRACTS OR 76,200 OZ (2.370 TONNES) ENTERTAINED WITH A QUEUE JUMP WHERE THESE BOYS DEMANDED PHYSICAL DELIVERY OVER ON THIS SIDE OF POND UPON EXERCISING AN EFP THROUGH LONDON. THIS IS CENTRAL BANKERS DEMANDING PHYSICAL GOLD
AUGUST LOST 17,524 CONTRACTS DOWN TO 292,651
SEPT LOST 36 CONTRACTS TO 1311
We had 657 contracts filed for today representing 65,700 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 620 notices issued from their client or customer account. The total of all issuance by all participants equate to 657 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 46 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 (7549 X 100 oz ) to which we add the difference between the open interest for the front month of JULY (846 CONTRACTS) minus the number of notices served upon today (657 x 100 oz per contract) equals 773,800 OZ OR 24.068 TONNES to which we add 0 tonnes of gold issued under exchange for risk// total standing 24.068 tonnes
thus the INITIAL standings for gold for the JULY contract month: No of notices filed so far (7549 x 100 oz +we add the difference for front month of JULY (846 OI} minus the number of notices served upon today (657 x 100 oz) which equals 773,800 OZ OR 24.068 TONNES + 0 tonnes EX FOR RISK = 24.068 tonnes
TOTAL COMEX GOLD STANDING FOR JULY.: 24.068 TONNES WHICH IS VERY STRONG FOR THIS NORMALLY NON ACTIVE ACTIVE DELIVERY MONTH IN THE CALENDAR.
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
COMEX GOLD INVENTORIES/CLASSIFICATION
NEW PLEDGED GOLD:
241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES
204,937.290 OZ PLEDGED MANFRA 3.08 TONNES
83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes
265,999.054, oz JPM No 2
1,152,376.639 oz pledged Brinks/
Manfra: 33,758.550 oz
Delaware: 193.721 oz
International Delaware:: 11,188.542 oz
total pledged gold: 2,190,440.438 oz 68.131 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 36,876,794.425 oz
TOTAL REGISTERED GOLD 20,200,085.926: or 628.307 tonnes
TOTAL OF ALL ELIGIBLE GOLD 16,617,708.499 OZ
END
REGISTERED GOLD THAT CAN BE SERVED UPON 18,009,645 oz (REG GOLD- PLEDGED GOLD)= 560.17 tonnes //
total inventories in gold declining rapidly
SILVER/COMEX
THE JULY 2025 SILVER CONTRACT//INITIAL
JULY 9
INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 1 entries i) Out of JPMorgan 643,841.100 oz total withdrawal 643,841.100 OZ |
| Deposits to the Dealer Inventory | 0 ENTRY |
| Deposits to the Customer Inventory | 0 DEPOSIT ENTRY/CUSTOMER ACCOUNT |
| No of oz served today (contracts) | 459 CONTRACT(S) (2.295 MILLION OZ |
| No of oz to be served (notices) | 672contracts (3.360 MILLION oz) |
| Total monthly oz silver served (contracts) | 7396 Contracts (36.980 million oz) |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
1 deposits into dealer accounts
0 ENTRY
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
0 DEPOSIT ENTRY/CUSTOMER ACCOUNT
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx)
withdrawals: customer side/eligible
1 entries
i) Out of JPMorgan 643,841.100 oz
total withdrawal 643,841.100 OZ
ADJUSTMENTs 2
a) Dealer to customer Ashai: 74,496.700 ozz
b) Dealer to customer: Brinks 415,103.190 oz oz
TOTAL REGISTERED SILVER: 191.911 MILLION OZ//.TOTAL REG + ELIGIBLE. 497.289 Million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JUNE
silver open interest data:
FRONT MONTH OF JULY /2025 OI: 1131 OPEN INTEREST CONTRACTS FOR A LOSS OF 50 CONTRACTS. WE HAD 351 CONTRACTS SERVED UPON TUESDAY SO WE GAINED 301 CONTRACTS OR 1.505 MILLION OZ ENTERTAINED A MASSIVE QUEUE JUMP WHERE THESE BOYS DECIDED TO TAKE DELIVERY OVER ON THIS SIDE OF THE POND.
AUGUST LOST 23 CONTRACTS TO 2322
SEPTEMBER LOST 2658 CONTRACTS DOWN TO 126,860 CONTRACTS.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 459 or 2.295 MILLION oz
CONFIRMED volume; ON TUESDAY 60.653 small//
AND NOW JULY 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 7396 X5,000 oz = 36.980 MILLION oz
to which we add the difference between the open interest for the front month of JULY (1131) AND the number of notices served upon today (459 )x (5000 oz)
Thus the standings for silver for the JULY 2025 contract month: (7396) Notices served so far) x 5000 oz + OI for the front month of JULY(1131) minus number of notices served upon today (459)x 5000 oz equals silver standing for the JULY contract month equating to 40.340 MILLION OZ .
New total standing: 40.340 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 191.911 million oz of registered silver
JPMorgan as a percentage of total silver: 211.543/497.289 million. 42.54%
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
JULY 9 WITH GOLD UP $4.05 TODAY//HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.15 TONNES OF GOLD OUT OF THE GLD //: /// ///INVENTORY RESTS AT 946.51 TONNES/
JULY 8 WITH GOLD $24.65 TODAY// NO CHANGES IN GOLD AT THE GLD //: /// ///INVENTORY RESTS AT 947.66 TONNES/
JULY 7 WITH GOLD UP $0.50 TODAY// NO CHANGES IN GOLD AT THE GLD //: /// ///INVENTORY RESTS AT 947.66 TONNES/
JULY 3 WITH GOLD DOWN $15.40 TODAY// HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 0.57 TONNES OF GOLD OUT OF THE GLD //: /// ///INVENTORY RESTS AT 947.66 TONNES/
JULY 2 WITH GOLD UP $8.95 TODAY// HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 4.30 TONNES OF GOLD OUT OF THE GLD //: /// ///INVENTORY RESTS AT 948.23 TONNES/
JULY 1 WITH GOLD UP $43.85 TODAY// HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 2.29 TONNES OF GOLD OUT OF THE GLD //: /// ///INVENTORY RESTS AT 952.53 TONNES/
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: 946.51 TONNES, TONIGHTS TOTAL
SILVER
JULY 9 WITH SILVER DOWN $0.18/ NO CHANGES AT THE SLV// A DEPOST OF 2.136 MILLION OZ INTO THE SLV//:.////INVENTORY RESTS AT 480.176 MILLION OZ.//
JULY 8 WITH SILVER DOWN $0.16/ NO CHANGES AT THE SLV A DEPOST OF 0.727 MILLION OZ INTO THE SLV//:.////INVENTORY RESTS AT 478.040 MILLION OZ.//
JULY 7 WITH SILVER DOWN $0.14/ HUGE CHANGES AT THE SLV A DEPOST OF 0.727 MILLION OZ INTO THE SLV//:.////INVENTORY RESTS AT 478.040 MILLION OZ.//
JULY 3 WITH SILVER UP $0.34/ HUGE CHANGES AT THE SLV A WITHDRAWAL OF 0.917 MILLION OZ IOUT OF THE SLV//:.////INVENTORY RESTS AT 477.313 MILLION OZ.//
JULY 2 WITH SILVER UP $0.36/ HUGE CHANGES AT THE SLV A DEPOSIT OF 1.363 MILLION OZ INTO THE SLV//:.////INVENTORY RESTS AT 478.049 MILLION OZ.//
JULY 1 WITH SILVER UP $0.21/ HUGE CHANGES AT THE SLVA WITHDRAWAL OF 1.272 MILLION OZ FROM THE SLV//:.////INVENTORY RESTS AT 476,686 MILLION OZ.//
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
CLOSING INVENTORY 480.176 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY
PETER SCHIFF
2. MATHEW PIEPENBERG
33 Tons Of Gold, Silver Concentrate Hijacked In Mexico
Tuesday, Jul 08, 2025 – 06:50 PM
Armed thieves in Mexico hijacked a truck transporting 33 tons of gold and silver concentrate belonging to the Mexican mining firm Grupo Minero Bacis, local media reported. The precious metals heist underscores a surge in highway robberies across the third-world cartel-plagued country—just south of the U.S. southern border—amid rising gold and silver prices driven by global macroeconomic uncertainty.
El Universal said the assailants blocked the tractor-trailer on a stretch of highway near Guadalajara and assaulted the driver and security, and held them hostage for nearly 1.5 hours.
“A group of organized criminals aboard two vehicles robbed a truck belonging to Fletes Durango SA de CV, which was loaded with at least 33 tons of gold and silver concentrate belonging to Grupo Minero Bacis SA de CV, bound for the port of Manzanillo,” Grupo Minero wrote in a report.
Grupo Minero Bacis is owned by José Jaime Gutiérrez Núñez, former president of the Mexican Mining Chamber. The miner operates the El Herrero gold and silver project—an advanced exploration and semi-processing operation that produces precious metal concentrate for both domestic use and international export.
While the truck was later recovered, the trailer with tons of gold and silver concentrate was never found. Local media identified the assailants as “organized criminals”—a term often synonymous with drug cartel gangsters.
The incident highlights the surge in highway robberies across the third world country, which now occur every 50 minutes, with cargo thefts rising over 30% in early 2025 compared to the previous year.
END
ALASDAIR MACLEOD
3/ CHRIS POWELL AND GATA DISPATCHES
Good luck to them as they have no mining experience
(Reuters)
Mali plans to sell gold reserves at Barrick complex to fund restart operations
Submitted by admin on Tue, 2025-07-08 10:00 Section: Daily Dispatches
By Divya Rajagopal, Portia Crowe, and Tiemoko Diallo
Reuters
Tuesday, July 8, 2025
The Malian court-appointed administrator of Barrick Mining’s Loulo-Gounkoto complex plans to sell one metric ton of gold from the site’s storeroom as operations commence again after an almost six-month suspension, two sources told Reuters.
Canadian miner Barrick Gold temporarily halted mining operations in January after the Malian government seized gold stocks from the Loulo-Gounkoto complex.
Former health minister Soumana Makadji, appointed as temporary administrator last month, enlisted the state mining company’s chairman and former Loulo-Gounkoto executive Samba Toure to help with operations, two sources said.
The site accounted for 15% of gold output from Barrick, the world’s third-largest gold miner, before the suspension, which has affected national gold output and reflects a broader conflict between Mali and international miners. …
… For the remainder of the report:
end
China’s central bank keeps buying gold as reserves grow for eighth straight month
Submitted by admin on Mon, 2025-07-07 15:30 Section: Daily Dispatches
By Sybilla Gross
Bloomberg News
Monday, July 7, 2025
China added to its official gold reserves for an eighth straight month in June, as prices of the precious metal traded near a record high.
Bullion held by the People’s Bank of China rose by 70,000 troy ounces last month, according to data released today. Its gold reserves have climbed by 1.1 million troy ounces — or about 34.2 tons — since the current run of purchases began in November last year.
Gold has climbed more than a quarter year to date, underpinned by robust demand from global central banks, as well as safe-haven flows amid an escalating conflict in the Middle East and President Donald Trump’s aggressive economic and trade agendas. …
… For the remainder of the report:
end
China snaps up mines around the world in rush to secure resources
Submitted by admin on Sun, 2025-07-06 09:37 Section: Daily Dispatches
By Camilla Hodgson, Leslie Hook, and Edward White
Financial Times, London
Sunday, July 6, 2025
Chinese mining acquisitions overseas have hit their highest level in more than a decade as companies race to secure the raw materials that underpin the global economy in the face of mounting geopolitical tension.
There were 10 deals worth more than $100 million last year, the highest since 2013, according to an analysis of S&P and Mergermarket data. Separate research by the Griffith Asia Institute found that last year was the most active for Chinese overseas mining investment and construction since at least 2013.
The country’s huge demand for raw materials — it is the largest consumer of most minerals — means its mining companies have a long history of investing overseas. Analysts and investors say that the rise in dealmaking partly reflects China’s efforts to get ahead of the deteriorating geopolitical climate, which is making it increasingly unwelcome as an investor in key countries such as Canada and the United States.
Michael Scherb, founder of private equity group Appian Capital Advisory, said there had been “more activity in the past 12 months because Chinese groups believe they have this near-term window. … They’re trying to get a lot of M&A done before geopolitics gets difficult.” …
… For the remainder of the report:
end
4. ANDREW MAGUIRE/LIVE FROM THE VAULT KINESIS 230
WITH CRAIG HEMKE
5. COMMODITY REPORT…COPPER
ASIAN MARKETS THIS WEDNESDAY MORNING:
SHANGHAI CLOSED DOWN 4.42 PTS OR 0.13%
//Hang Seng CLOSED DOWN 247.28 PTS OR 1.02%
// Nikkei CLOSED UP 132.47 PTS OR 0.33% //Australia’s all ordinaries CLOSED DOWN 0.58%
//Chinese yuan (ONSHORE) CLOSED DOWN AT 7.1828 OFFSHORE CLOSED DOWN AT 7.1877/ Oil UP TO 68.73 dollars per barrel for WTI and BRENT UP TO 70.51 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN DOWN TRADING AT 7.1728 AND WEAKER//OFF SHORE YUAN TRADING DOWN TO 7.1710 AGAINST US DOLLAR/ AND THUS WEAKER
END
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS WEDNESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN TO 7.1828 (CHINESE COMMUNIST PARTY MANIPULATED)
OFFSHORE YUAN: DOWN TO 7.1877 (CCP MANIPULATED)
SHANGHAI CLOSED DOWN 4.42 PTS OR 0.13%
HANG SENG CLOSED DOWN 247.28 PTS OR 1.02%
2. Nikkei closed UP 132.47 PTS OR 0.33%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX DOWN TO 97.30/ EURO FALLS TO 1.1828 UP 24 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +1.506//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 146.82…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: DOWN OFFSHORE: DOWN
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and 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 +2.6320/Italian 10 Yr bond yield DOWN to 3.545 SPAIN 10 YR BOND YIELD DOWN TO 3.285%
3i Greek 10 year bond yield DOWN TO 3.378
3j Gold at $3283.50 Silver at: 36.44 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 0 AND 33 /100 roubles/dollar; ROUBLE AT 78.16
3m oil (WTI) into the 68 dollar handle for WTI and 70 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 146.82// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.506% 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 0.7973 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9331 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: 4.339 DOWN 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.920 DOWN 3 BASIS PTS/
USA 2 YR BOND YIELD: 3.859 DOWN 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 40.05
10 YR UK BOND YIELD: 4.6280 UP 2 PTS
10 YR CANADA BOND YIELD: 3.428 UP 0 BASIS PTS
5 YR CANADA BOND YIELD: 2.967 UP 0 PTS
2a New York OPENING REPORT
Futures Rise With Trump Tariff Updates, FOMC Minutes On Deck
Wednesday, Jul 09, 2025 – 08:32 AM
US equity futures inch higher as the market tries to regain some losses a day after President Donald Trump escalated his trade rhetoric and threatened more charges on copper and pharmaceuticals. Trump also foreshadowed an update to the trade status, saying he “will be releasing a minimum of 7 Countries having to do with trade” on Wednesday morning and with an additional number of countries to be released in the afternoon as we reach the 90-day deadline to Liberation Day. As of 8:00am, S&P and Nasdaq futures are 0.2% higher, with Mag7 names trading higher premarket while semis are mixed; banks and industrials are boosting cyclicals. Europe is also trending higher (+80bps) for a third day, while Asia finished mostly lower (HSI -1%, with HS Tech -1.7%). Goldman writes that heavy focus on recent momentum unwind (the Goldman High Beta Momentum Pair Basket -4.5% yesterday and now down 8.3% mtd). Recent catalysts for the Momo Reversal seem to be: the move in back-end Rates / positioning / ongoing re-shuffling to start the quarter / and the big reversal lower in Banks yesterday. Elsewhere, some minor underperformance in haven assets suggests investors are not too concerned by what Trump may reveal later today. Spot gold loses $10 or so. Treasuries are steady with bond yields flat to up 1bp as the USD is indicated higher. Commodities are also higher in both Ags/Energy as metals are generally weaker post-copper tariff announcement. Trump’s 50% copper tariffs would be “extremely inflationary,” according to UBS O’Connor Global Multi-Strategy Alpha CIO Bernie Ahkong, while Goldman Sachs expects inbound-US flows of the metal to accelerate as the incentive to “front-run” the tariff implementation has increased. Today’s macro data focus is on Fed Minutes, mtge applications, and inventories.
In premarket trading, Microsoft gains 0.8% after Oppenheimer raised the recommendation on the software company to outperform, citing potential upside as AI revenue grows quickly and “investors embrace Microsoft as one of the long-term AI winners in software.” Other Mag7 names are all higher (Tesla +0.5%, Amazon +0.3%, Meta +0.3%, Nvidia +0.2%, Alphabet +0.3%, Apple unch).
- Aehr Test Systems (AEHR) drops 20% after the maker of semiconductor equipment posted fiscal 4Q revenue that slipped from the year-ago period.
- AES Corp. (AES) is exploring options including a potential sale amid takeover interest, according to people familiar. Shares are up 14%.
- Bloom Energy (BE) gains 7% as JPMorgan upgraded its rating to overweight after fuel cells unexpectedly qualified for Clean Electricity Investment credits as part of the new tax bill.
- Doximity Inc. (DOCS) rises 3% after Evercore ISI upgraded the healthcare-software company to outperform, saying the fiscal 2026 guidance is conservative.
- Mobileye Global (MBLY) slips 1.2% after the maker of software and hardware technology for automobiles announced a secondary offering by Intel. It also reported preliminary second-quarter results that beat expectations. Intel shares are down 0.9% premarket.
- RxSight (RXST) tumbles 40% after the company cut its 2025 revenue forecast and reported preliminary second-quarter revenue that fell short of Wall Street’s expectations.
- Starbucks Corp. has received proposals from prospective investors in its China business, most of whom are eyeing a controlling stake in the operation, said people familiar with the matter. Shares are up 1.7%.
- Tandem Diabetes (TNDM) declines 4% after Citi downgraded the medical device maker to sell from neutral, citing a series of headwinds including competition pressures.
- T-Mobile (TMUS) drops 1.9% as KeyBanc Capital Markets cuts to underweight, saying the telecom company’s stock underperformance is set to continue and that its “premium valuation is just too high.”
In corporate news, there was another round of street actions moving stocks early (MSFT upgraded @ Oppenheimer / SMCI downgraded @ BofA / TMUS downgraded @ Keybanc). Elsewhere, Apple’s COO and company veteran Jeff Williams is stepping down this month before retiring later in the year. The firm is also said to be in talks to acquire the US rights to screen Formula 1 after the success of its hit movie, according to the FT. META is investing $3.5bn in a AI Glasses company; BABA is trading -2.5% after JD.com announced a new food delivery company; bloomberg is reporting that China wants to use 115,000 banned NVDA chips to fulfill its AI Ambitions; and SpaceX is said to be planning an offering valuing the company at $400bn (only 19 publicly traded companies in the S&P have a large mkt cap). Intel is selling 45 million shares of Mobileye, in a move seen likely to support Intel’s near-term liquidity and cash needs as it funds foundry ambitions, according to Bloomberg Intelligence.
Investors will seek clues for more insight on Fed’s policy path when the latest FOMC meeting minutes are released later today, amid increasing pressure on Powell from Trump. Kevin Hassett and Kevin Warsh are vying to be the next Fed chair, according to the WSJ.
Earlier this week, traders had largely brushed off a batch of letters in which Trump effectively delayed his tariff deadline while outlining new rates targeting over a dozen countries. Sentiment shifted on Tuesday, when he signaled fresh resolve to move forward with steep levies on foreign imports. He also signaled that updates to the trade status of at least seven nations would be released Wednesday morning, with more announcements later in the day.
“The market has already overreacted in the past on Trump’s trade announcements, so I think investors are being prudent and cautious,” said Stéphane Deo, senior portfolio manager at Eleva Capital in Paris. “That being said, tariffs will end up being much higher in the fall than they were at the beginning of the year, so that’s likely to fuel inflation.”
Investors will also parse minutes of the Federal Reserve’s June policy meeting later today for indications on whether officials are closer to lowering interest rates. Trump accused Fed Chair Jerome Powell of “whining like a baby about non-existent inflation” as he intensified his standoff over the pause in rate cuts. Swaps are almost fully pricing two quarter-point cuts until the end of the year, with a 65% chance of a first reduction in September.
Europe’s Stoxx 600 is up 0.8% and set to rise for the third consecutive session, to the highest in almost a month, as investors look for signs of progress in trade negotiations with the US. Bank and energy names are leading gains while media shares provide a drag. Miners underperform after President Donald Trump indicated the US would implement a higher-than-expected 50% tariff on copper imports. Here are the biggest movers Wednesday:
- EssilorLuxottica shares rise as much as 5.5%, the most in three months, after Facebook parent Meta acquired just under 3% of the Ray-Ban maker, according to people familiar with the matter
- British American Tobacco shares rise as much as 2.9%, the most in over a month, after Jefferies named the firm as its top pick as it reinstated coverage of the global tobacco sector
- Renk shares rise as much as 5.9%, the most since June, after Bloomberg reported the German gearbox maker is considering options for its civilian industrial business as it looks to focus on defense operations
- Indra Sistemas rises as much as 4% in Madrid as Goldman Sachs raises its recommendation to buy from neutral, noting the firm is a beneficiary of the “defense mega trend”
- Hunting shares rise as much as 15%, the most since May 2024, after the British engineering group announced an increase in targeted dividend distributions in its H1 trade results and proposed a $40m share buyback
- Santam shares rise as much as 4.3% in Johannesburg, to a record high, after JPMorgan increased its price target on the short-term insurer to a new Street high of 527.71 rand from 480 rand
- WPP shares drop as much as 16%, to the lowest since 2009, after the advertising agency reduced its organic growth guidance for the year, citing continued macro uncertainty that weighed on client spending
- Kongsberg falls as much as 7.6% as DNB Carnegie says soft second quarter results could bring down consensus estimates, even as company cites “substantial” demand for its defense systems
- FDJ United shares tumble as much as 5.2%, falling for a fifth consecutive session to their lowest level since April, after a unit of Credit Agricole sold its entire stake in the lottery and sports-betting firm at a discount
- Inwido falls as much as 6.2%, the most since April, after DNB Carnegie cut its recommendation on the Swedish window and door manufacturer to hold, saying the shares are fairly valued after a good run
- Close Brothers tumbles as much as 9.1%, pulling back after reaching an eight-month high, as the firm warned a revamp of its premium finance business will cause the unit’s loan book to decline
- Zigup shares fall as much as 8.2% after the UK-based rental firm reported lower profits on vehicle disposals in preliminary FY25 earnings. Panmure Liberum says this risks eroding the group’s profits in the future
Earlier in the session, Asian stocks fell as investor mood soured following US President Donald Trump’s latest vow to push forward with his aggressive tariff agenda. The MSCI Asia Pacific Index lost as much as 0.4%, with Alibaba, Tencent and Samsung Electronics among the biggest drags. Equities in Hong Kong were among the top losers in the region, partly weighed by declines in metals stocks. Copper names including Zijin Mining fell after Trump said he planned to implement a 50% tariff on imports of the commodity. Shares in Australia and New Zealand also fell after Trump’s tariff announcements from the White House. The Reserve Bank of New Zealand decided to leave interest rates unchanged, as expected. Malaysia’s stock benchmark index was down about 0.4% as the central bank cut its interest rate for the first time since 2020 amid trade tensions.
In FX, the dollar swung between gains and losses and stayed in tight ranges versus its major peers, while options pointed to demand for bullish exposure. The Canadian dollar underperforms slightly with a 0.2% fall.
- USD/JPY -0.1% to 146.73 (range 146.53 – 147.18)
- EUR/USD little changed at 1.1721 (range 1.1702 – 1.1729)
- GBP/USD little changed at 1.3599 (range 1.3565 – 1.3606)
In rates, treasuries drop, with US 10-year yields rising 2bps to 4.42% following a five-day run of losses which lifted the rate almost 20 basis points. The Treasury will sell $39 billion of 10-year notes later Wednesday followed by $22 billion of 30-year bonds Thursday. An offering of three-year securities on Tuesday was met with soft demand. Bunds edge higher with German 10-year borrowing costs down 1 bp at 2.68%. The Gilt curve flattens as short-end maturities underperform and lag gains at the longer-end.
“This week’s Treasury auctions are going to be important, at least in the short term, particularly where we are in terms of the tax cut extensions and the tariff negotiations,” said Justin Onuekwusi, chief investment officer at St James’s Place in London.
In commodities, oil prices advance, with WTI up 0.5% at $68.70 a barrel; spot gold falls $12 to around $3,290/oz. Bitcoin trades in a narrow range as we await further tariffs updates later in the session. At best, still just under 1k from the in-focus USD 110k mark.
Looking at today’s calendar, the US economic data slate includes May wholesale inventories (10am) and minutes of the June FOMC meeting (2pm). Fed speaker slate is blank
Market Snapshot
- S&P 500 mini +0.2%
- Nasdaq 100 mini +0.2%
- Russell 2000 mini little changed
- Stoxx Europe 600 +0.7%
- DAX +1%
- CAC 40 +1.2%
- 10-year Treasury yield -1 basis point at 4.39%
- VIX -0.5 points at 16.33
- Bloomberg Dollar Index little changed at 1196.96
- euro -0.1% at $1.1712
- WTI crude +0.5% at $68.67/barrel
Top Overnight news
- President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and pharmaceuticals.
- White House NEC Director Kevin Hassett has emerged as a contender for the next Fed Chair in a possible threat to early favourite Kevin Warsh and has met with President Trump at least twice in June regarding the job, according to WSJ.
- US Speaker Johnson, when asked on government funding state of play, said “We want to appropriate at lower levels. We just have to determine what those levels are exactly”, via Punchbowl.
- Copper futures fell in London after President Donald Trump sowed chaos in metals markets by indicating the US would implement a higher-than-expected 50% tariff on imports of the commodity.
- Meta Platforms Inc. bought a minority stake in the world’s largest eyewear manufacturer, EssilorLuxottica SA, deepening the US tech giant’s commitment to the fast-growing smart glasses industry, according to people familiar with the matter.
- Active investment managers have no option but to adopt hedge fund strategies to counter the migration to low-cost passively run portfolios, according to an outperforming French asset manager.
- DoJ said to be investing UnitedHealth’s (UNH) Medicare billing, according to WSJ sources.
Trade/Tariffs
- US President Trump delayed reciprocal tariffs as Treasury Secretary Bessent wanted more time on deals, according to WSJ.
- US President Trump posted they “will be releasing a minimum of 7 Countries having to do with trade” on Wednesday morning and with an additional number of countries to be released in the afternoon.
- EU negotiators are closing in on a trade deal with US President Trump that would leave the EU facing higher tariffs than the UK, with the EU not expecting to achieve the same access to the US market as British steel, cars and other products subject to sectoral duties. Furthermore, Brussels is ready to sign a temporary “framework” agreement that sets Trump’s “reciprocal” tariff at 10% while talks continue, according to FT.
- China’s Commerce Ministry placed eight Taiwanese companies on its export control list due to concerns regarding dual-use technologies.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks traded mixed following the similar performance stateside where tariff updates remained in focus after the US flagged more tariff letters and President Trump suggested a 50% tariff on copper. ASX 200 marginally retreated with most sectors in the red although price action was confined within tight parameters. Nikkei 225 swung between gains and losses amid global trade uncertainty, while there were balanced comments from BoJ’s Koeda who stated it is inappropriate to say the specific timing of the next rate hike now due to high uncertainty but added the BoJ must debate how much it should eventually shrink its expanded balance sheet and balance of JGB holdings. Hang Seng and Shanghai Comp conformed to the mixed overall picture in the region as property names dragged the Hong Kong benchmark lower, while the mainland remained afloat as participants reflected on mixed inflation data from China.
Top Asian News
- China’s state planner chair said to expect the size of China’s economy to exceed CNY 140tln this year and noted that foreign tech curbs can only strengthen China’s tech innovation and resolve on self-reliance.
- BoJ’s Koeda said recent rises in Japan’s food and rice prices were stronger than expected at the time of BoJ’s May policy meeting and they are watching the development carefully, while he added the BoJ’s weighted median inflation is still below 2% and must scrutinise whether momentum for stable inflation is becoming embedded in Japan’s economy. Koeda also commented that it is inappropriate to say the specific timing of the next rate hike now due to high uncertainty over the economic outlook and stated the BoJ must debate how much it should eventually shrink its expanded balance sheet and balance of JGB holdings.
- ex-BoJ policymaker Sakurai says BoJ will hold off rate hikes until March due to the US tariffs, according to Reuters.
- RBNZ kept the OCR at 3.25%, as expected, while it stated that if medium-term inflation pressures continue to ease as projected, the Committee expects to lower the OCR further and annual consumer price inflation will likely increase towards the top of the Monetary Policy Committee’s 1-3% target band over mid-2025. RBNZ stated the economic outlook remains highly uncertain and further data on the speed of New Zealand’s economic recovery, the persistence of inflation, and the impacts of tariffs will influence the future path of the OCR. The minutes from the meeting stated the Committee expects to lower the official cash rate further, broadly consistent with the projection outlined in May and the case for keeping the OCR on hold at this meeting highlighted the elevated level of uncertainty and the benefits of waiting until August in light of near-term inflation risks. Furthermore, the Committee discussed the options of cutting the OCR by 25bps or keeping the OCR on hold at this meeting and some members emphasised that further monetary easing in July would provide a guardrail to ensure the recovery of economic activity.
- China State Council issues notice on stepping up support for employment, via Xinhua; will support enterprises in stabilising jobs; will expand the scope of social insurance subsidies. To further enrich the policy toolkit in order to stabilise employment.
European bourses began the day with modest gains and have been grinding higher throughout the morning, Euro Stoxx 50 +1.1%; strength comes with the EU said to be nearing a deal with the US, with modest outperformance in the DAX 40 +1.2% amid associated auto strength. Amidst this, sectors began mixed but have been moving toward an overall positive bias. Banks lead with UniCredit (+3%) raising its stake in Commerzbank (+1%). Basic Resources weaker given pressure in non-US copper, hitting London-based minders, while Media lags after WPP’s (-17%) profit warning.
Top European News
- BoE Financial Stability Report – July 2025; maintains CCyB at 2%. Uncertainty around the global risk outlook remains materially elevated compared to the time of the November FSR. Bank plans to engage with industry through an upcoming discussion paper, which will seek views on potential options to help mitigate gilt repo market vulnerabilities.
- BoE’s Bailey (at the FSR) says risks and uncertainty still elevated. UK borrowers are resilient and can be supported by banks. Steepening in yield curves is not particularly UK-focused. Steepening in yield curves will need to be looked at carefully when it comes to the QT decision. QT is an open decision.
- Union confirms that UK Junior Doctors will go on strike between July 25-30th.
FX
- USD steady as markets digest Tuesday’s trade updates and await another batch later today. DXY contained in a 97.49-72 band. Amidst this, G10 peers are slightly mixed vs the USD but are broadly contained thus far.
- GBP the marginal best performer, Cable to a 1.3608 peak at best but hasn’t spent much time above the figure in 1.3565-1.3608 confines. No reaction to the FSR and as trade updates for the UK are expected to be light, the USD-side of the equation will likely do the heavy lifting for today.
- EUR marginally softer vs the USD, EUR/USD holding just above 1.17 in a 1.1702-29 confine, and well within yesterday’s 1.1682-1.1765 parameter. Specifics light thus far as we await updates on trade, after Trump said a letter was two days away which means a deal. Ahead, a handful of ECB speakers.
- Antipodeans relatively contained, particularly when compared to the RBA-led outperformance in the AUD earlier in the week. AUD/USD currently holding around highs of 0.6544, but essentially flat. Overnight, the RBNZ was unchanged as expected but guided towards further cuts if data moves as projected, essentially taking a data-dependent approach; as such,Kiwi is flat at 0.6000 vs the USD.
- JPY softer. We continue to await updates on the US-Japanese trade front with rhetoric earlier in the week not indicative of a near-term breakthrough. That aside, the firmer risk tone this morning has potentially been exerting some modest pressure. However, despite the continued improvement in the risk tone, USD/JPY is off overnight highs above 147.00, closer to a 146.54 trough.
- PBoC set USD/CNY mid-point at 7.1541 vs exp. 7.1806 (Prev. 7.1534).
Fixed Income
- A modest upward bias for benchmarks after a few sessions of relatively marked pressure.
- Strength comes despite the constructive risk tone. But, the magnitude of today’s move is limited in nature with Bunds for instance still lower by over 60 ticks WTD, and the move more a function of Bunds retracing some of Tuesday’s supply-induced pressure (primarily from EU debt) than a pronounced move higher.
- No move in EGBs to the day’s dual-tranche Bund supply. Now awaiting ECB speak and potential comments from the German Chancellor in a Bundestag Q&A on the draft 2026 budget.
- USTs a similar story with specifics light into supply and FOMC Minutes. Thus far, confined to a 110-24 to 110-29+ band, within Tuesday’s slightly more expansive 110-21+ to 111-01+ parameters, and by extension shy of Monday’s 111-12+ WTD peak.
- Gilts in-fitting with USTs and EGBs. Firmer by a handful of ticks with newsflow light as the UK has already secured a trade deal. Off best, but still firmer, in a 91.63-83 band; as is the case for USTs and Bunds remains shy of peaks at 91.98 and 92.63 from the last two sessions.
- UK sells GBP 4.5bln 4.50% 2035 Gilt: b/c 2.89x (prev. 2.98x), average yield 4.635% (prev. 4.588%) & tail 0.2bps (prev. 0.3bps)
- Germany sells EUR 1.135bln vs exp. EUR 1.5bln 2.60% 2041 and EUR 0.794bln vs exp. EUR 1.0bln 2.50% 2044 Bund
Commodities
- Upward bias across the crude contracts with Brent front-month settling north of USD 70/bbl yesterday following the OPEC+ surprise over the weekend, in the form of a larger-than-expected supply increase for August.
- WTI resides in a USD 67.78-68.94/bbl range while its Brent counterpart trades in a USD 69.85-70.71/bbl range.
- Softer trade across precious metals despite a relatively stable Dollar. Weakness in the complex could be a function of optimism regarding trade deals. Spot gold continues yesterday’s weakness and resides in a USD 3,282.66-3,308.15/oz range, with the next point the 30th June trough at USD 3,244.42/oz.
- Base metals are softer, in Europe, despite the commentary from Trump on copper tariffs lifting to 50%. Front-running of US copper ahead of the potential 50% tariff has widened the Comex-LME arbitrage to over USD 2,000/t and pushed Comex inventories above combined LME and SHFE levels, writes ING.
- US Private Inventory Data (bbls): Crude +7.1mln (exp. -2.1mln), Distillate -0.8mln (exp. -0.3mln), Gasoline -2.2mln (exp. -1.5mln), Cushing +0.1mln.
- Mexico’s Economy Minister said he will have a call with US authorities to discuss copper tariffs and see what they apply to.
- UAE Energy Minister says not worried about oil supply overhang, not seen an increase in inventories. Adds, they are losing some of the world’s spare oil capacity Y/Y as some nations cannot produce what they did last year or last month and nobody is talking about peak oil demand anymore, demand has surpassed predictions.
- Goldman Sachs maintains its December 2025 LME Copper price forecast at USD 9.7k. Changes the baseline view on US tariffs on copper imports to 50% (prev. exp. 25%).
- West African cocoa production is likely to see another 10% decline in the upcoming 2025/26 season, according to Reuters citing industry sources.
Geopolitics: Middle East
- US President Trump exerted strong pressure on Israeli PM Netanyahu during their meeting to end the war, according to Yedioth Ahronoth citing informed sources.
- Qatari delegation arrived on Tuesday for talks at the White House regarding the hostage deal and ceasefire in Gaza, according to Axios citing a source familiar.
- IDF presence in Gaza is understood to be the ‘only issue’ still to be resolved in the push for Israel-Hamas ceasefire and the two sides have bridged significant differences on several other issues, according to Sky News citing sources.
- Kann News citing Saudi royal family sources believes that the agreement being formulated between Israel, Syria and the United States could have a positive effect and prepare the ground for an agreement with the Saudis as well.
- US Envoy Witkoff said to have postponed travel to Doha for Israel-Hamas peace talks, according to Times of Israel.
Geopolitics: Ukraine
- White House considers giving Ukraine another Patriot air defence system, according to the Wall Street Journal.
- Ukrainian attack on a beach in the Russian city of Kursk killed three people, according to the regional governor.
- Russia launched a “record” 728 drones overnight and 13 missiles, according to Ukraine’s Air Force.
- German Chancellor Merz says diplomatic means to resolve the Ukraine war have been exhausted.
- Russia’s Kremlin says “we are calm” about US President Trump’s criticism of Russian President Putin. Trump has a tough style in the phrases he uses. Will continue to try to fix the broken Russia-US relationship.
- Ukrainian President Zelensky is due to meet with US Special Envoy Kellogg during his visit to Rome, according to Ifax.
US Event Calendar
- 7:00 am: Jul 4 MBA Mortgage Applications, prior 2.7%
- 10:00 am: May F Wholesale Inventories MoM, est. -0.3%, prior -0.3%
- 2:00 pm: Jun 18 FOMC Meeting Minutes
DB’s Jim Reid concludes the overnight wrap
Equity markets have been treading water over the last 24 hours, even with the latest tariff developments and some renewed jitters in global bond markets around fiscal sustainability. That meant yields rose in pretty much every major economy, with 10yr Treasury yields (+2.0bps) by no means the worst hit but still rising for a 5th consecutive session, before rising another +1.4bps this morning. Meanwhile, the S&P 500 (-0.07%) edged back for a second day as Trump said there’ll be no further tariff extensions beyond August 1st, with futures down another -0.12% overnight. And it was also a record day for US copper futures after Trump said copper would face 50% tariffs, with the biggest daily jump (+13.25%) in available data back to the late-1980s.
In terms of how the day unfolded, that bond selloff initially began in Japan, where there was a big spike in long-end bond yields that pushed the 30yr yield up +9.0bps, and back above 3%. That’s coming ahead of the upper house election there on July 20, where the major parties are advocating further spending or tax cuts, so that’s adding to concerns at a time when the Bank of Japan are already scaling back their bond purchases. And as we just managed to sneak into yesterday’s edition, the Reserve Bank of Australia voted to keep rates on hold, even though a cut was widely expected, so that helped to push yields higher in Australia too.
That momentum carried over into the European session, where yields moved up across the continent. UK gilts saw the biggest moves, with their 30yr yield (+6.3bps) back up to 5.45%, whilst the 10yr yield was up +4.7bps to 4.63%. So in both cases, that took yields above their close last Wednesday when Chancellor Reeves’ position looked under threat, and investors feared that the government might ease the fiscal rules. Coincidentally, the OBR fiscal watchdog published their “Fiscal risks and sustainability” report yesterday, which concluded that demographic pressures would help push debt-to-GDP above 270% of GDP by the early 2070s, at least on current policy. Admittedly, it’s a similar situation if you look at the CBO’s long-term reports for the US, but it demonstrates how this problem isn’t going away on the current trajectory.
These concerns were clear on both sides of the Atlantic, and 30yr Treasury yields earlier got close to 5% again, closing up +0.9bps at 4.92% after having reached 4.97% in early NY trading. Bear in mind we’ve got a 10yr Treasury auction today and a 30yr auction tomorrow, so those will be in the spotlight to see how much demand there is. Meanwhile in Europe, 10yr bund yields were up +4.4bps to 2.69%, whilst the 30yr yield (+5.4bps) hit 3.17%, which is just shy of its post-Euro crisis peak of 3.21% from late-2023. On the topic of German fiscal policy, DB are hosting a webinar today at 1pm London time on the latest developments and its impact. The details to register can be found here.
Otherwise, trade and tariffs were the main focus yesterday, and the big development was Trump saying that “No extensions will be granted” to the August 1 deadline on the reciprocal tariffs. That’s a shift in tone from Trump’s own comments on Monday evening, as Trump had said that the August 1 date was “not 100% firm”, and investors had been hopeful that ongoing negotiations and trade deals could avoid that. So it’s a clear hardening up of the rhetoric. During a cabinet meeting yesterday, the President took a hard line against the BRICS countries again, saying the group was “set up to hurt us…I can play that game too so anybody that’s in BRICS is getting a 10%” tariff addition. This comes even though he had previously noted that he was close to a deal with India. In addition, the President took a more hawkish tone, indicating that some countries would be seeing a 60% or 70% tariff rate and that sectoral tariffs are coming. While pharma, autos, and steel have been well flagged, the President proposed a 50% rate on copper products and said that some drug levies could reach as high as 200%, although the President stated that the pharma tariffs would only come after a “year or year and half”. Copper first month futures on the NY exchange hit an all-time high in response, as prices rose 13.25% (17% intraday), which was the largest daily move since on record going back to 1988.
Amidst those headlines, there was some more constructive news as we heard that the Japan-US talks were continuing, and Japan’s Ministry of Foreign Affairs said that economic revitalisation minister Ryosei Akazawa had a 30 minute phone call with Treasury Secretary Bessent. In the statement, it said that Japan would “continue to explore ways for a mutually beneficial agreement”, and it was later reported by Bloomberg that Bessent would be in Japan next week for the 2025 World Expo. President Trump indicated that at least seven tariff letters would be coming out this morning, Washington time, with more expected as the week goes on. Ultimately, the “reciprocal” tariffs rates have been extended to August 1st given Monday’s executive order, so investors will continue to weigh how likely the administration is to go through with the higher rates over the next three weeks.
That backdrop meant equities struggled, with the S&P 500 (-0.07%) losing further ground after its decline on Monday. However, the decline wasn’t particularly broad-based, and the equal-weighted S&P 500 was actually up +0.25% on the day. At the sub-sector level, Energy outperformed (+2.7%) on the back of higher oil prices (Brent crude up 0.82% yesterday), while Autos (1.2%), Semiconductors (+1.0%) and Pharma (+0.9%) all outperformed despite the specific sectoral tariff threats. There was also a decent divergence between the megacaps in the Magnificent 7 (-0.07%), and the small-caps in the Russell 2000 (+0.66%). Meanwhile in Europe, the mood was generally more positive, with the STOXX 600 (+0.41%) paring back its earlier losses after the news came through about the US-Japan call.
Overnight in Asia, most equity indices have managed to post an advance, with gains for the Nikkei (+0.18%), the KOSPI (+0.65%), the CSI 300 (+0.32%) and the Shanghai Comp (+0.29%). Indeed, the Shanghai Comp is currently on track to close at its highest level since early 2022. However, there’s been weakness elsewhere, and the Hang Seng is down -0.74%, whilst Australia’s S&P/ASX 200 is down -0.41% after the RBA’s unexpected decision to remain on hold yesterday. Indeed, Australian government bond yields have seen a further jump this morning, with the 10yr yield up another +9.0bps to 4.35%. The Reserve Bank of New Zealand have also kept rates on hold this morning at 3.25%, although that decision was widely expected.
Otherwise, the latest inflation data from China has been released overnight, which showed producer prices were down -3.6% year-on-year (vs. -3.2% expected). That’s a 33rd consecutive month of declining prices, and the biggest rate of decline in 23 months. However, consumer prices unexpectedly rose +0.1% (vs. -0.1% expected), marking the first inflationary reading since January.
There wasn’t much data yesterday, although the NFIB’s small business optimism index came out, which was exactly in line with consensus at 98.6. Otherwise, the New York Fed’s Survey of Consumer Expectations saw little change in inflation expectations. The 1yr measure was down to 3.0% in June, the lowest since January, but the 3yr measure was unchanged at 3.0%, and the 5yr was also unchanged at 2.6%.
To the day ahead now, and we’ll get the minutes from the FOMC’s June meeting, and hear from ECB Vice President de Guindos, and Bundesbank President Nagel. The Bank of England will also release their Financial Stability Report.
2b European Opening Report
EU-US trade deal said to be close, seven letters expected today – Newsquawk US Market Open
Wednesday, Jul 09, 2025 – 06:28 AM
- US President Trump flagged the release of at least 7 tariff letters today. Reports that the EU is closing in on a temporary “framework” agreement, via FT.
- European bourses began modestly firmer and have been grinding higher since, Euro Stoxx 50 +1.1%; German autos bid on trade nuances, Basic Resources hit by non-US copper performance, Media lags after WPP
- Stateside, futures are in the green and directionally in-fitting with Europe but gains are much more muted, ES +0.2%; updates around AAPL, NVDA, AMZN in focus
- USD steady with G10s mixed but essentially flat. RBNZ as expected, no significant NZD move.
- Fixed benchmarks have a modest upward bias, though they remain markedly lower on the week; today’s action in Europe is a retracement of Tuesday’s supply-induced pressure rather than a pronounced move higher.
- Crude has an upward bias, specifics light. XAU softer. Front-running of US copper into potential tariffs has widened the Comex-LME arbitrage to over USD 2,000/t.
- Looking ahead, highlights include FOMC Minutes, Speakers include ECBʼs Lane, Nagel & de Guindos, Supply from the US.
- Click for the Newsquawk Week Ahead.
Newsquawk in 3 steps:
1. Subscribe to the free premarket movers reports
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
TARIFFS/TRADE
- US President Trump delayed reciprocal tariffs as Treasury Secretary Bessent wanted more time on deals, according to WSJ.
- US President Trump posted they “will be releasing a minimum of 7 Countries having to do with trade” on Wednesday morning and with an additional number of countries to be released in the afternoon.
- EU negotiators are closing in on a trade deal with US President Trump that would leave the EU facing higher tariffs than the UK, with the EU not expecting to achieve the same access to the US market as British steel, cars and other products subject to sectoral duties. Furthermore, Brussels is ready to sign a temporary “framework” agreement that sets Trump’s “reciprocal” tariff at 10% while talks continue, according to FT.
- China’s Commerce Ministry placed eight Taiwanese companies on its export control list due to concerns regarding dual-use technologies.
EUROPEAN TRADE
EQUITIES
- European bourses began the day with modest gains and have been grinding higher throughout the morning, Euro Stoxx 50 +1.1%; strength comes with the EU said to be nearing a deal with the US, with modest outperformance in the DAX 40 +1.2% amid associated auto strength.
- Amidst this, sectors began mixed but have been moving toward an overall positive bias. Banks lead with UniCredit (+3%) raising its stake in Commerzbank (+1%). Basic Resources weaker given pressure in non-US copper, hitting London-based minders, while Media lags after WPP’s (-17%) profit warning.
- Stateside, futures spent the early European morning marginally mixed but essentially flat. Since, they have picked up with European peers though magnitudes are much more contained, ES +0.2%. Ahead of FOMC Minutes, trade updates and supply.
- Updates include: Apple (+0.3%) COO transition, may bid for F1 rights; China plans to install banned NVIDIA (+0.2%) chips; Meta (+0.3%) stake in EssilorLuxottica (+6%); Bezos sells Amazon (+0.4%) shares
- Click for the sessions European pre-market equity newsflow
- Click for the additional news
- Click for a detailed summary
FX
- USD steady as markets digest Tuesday’s trade updates and await another batch later today. DXY contained in a 97.49-72 band. Amidst this, G10 peers are slightly mixed vs the USD but are broadly contained thus far.
- GBP the marginal best performer, Cable to a 1.3608 peak at best but hasn’t spent much time above the figure in 1.3565-1.3608 confines. No reaction to the FSR and as trade updates for the UK are expected to be light, the USD-side of the equation will likely do the heavy lifting for today.
- EUR marginally softer vs the USD, EUR/USD holding just above 1.17 in a 1.1702-29 confine, and well within yesterday’s 1.1682-1.1765 parameter. Specifics light thus far as we await updates on trade, after Trump said a letter was two days away which means a deal. Ahead, a handful of ECB speakers.
- Antipodeans relatively contained, particularly when compared to the RBA-led outperformance in the AUD earlier in the week. AUD/USD currently holding around highs of 0.6544, but essentially flat. Overnight, the RBNZ was unchanged as expected but guided towards further cuts if data moves as projected, essentially taking a data-dependent approach; as such,Kiwi is flat at 0.6000 vs the USD.
- JPY softer. We continue to await updates on the US-Japanese trade front with rhetoric earlier in the week not indicative of a near-term breakthrough. That aside, the firmer risk tone this morning has potentially been exerting some modest pressure. However, despite the continued improvement in the risk tone, USD/JPY is off overnight highs above 147.00, closer to a 146.54 trough.
- PBoC set USD/CNY mid-point at 7.1541 vs exp. 7.1806 (Prev. 7.1534).
- Click for a detailed summary
- Click for NY OpEx Details
FIXED INCOME
- A modest upward bias for benchmarks after a few sessions of relatively marked pressure.
- Strength comes despite the constructive risk tone. But, the magnitude of today’s move is limited in nature with Bunds for instance still lower by over 60 ticks WTD, and the move more a function of Bunds retracing some of Tuesday’s supply-induced pressure (primarily from EU debt) than a pronounced move higher.
- No move in EGBs to the day’s dual-tranche Bund supply. Now awaiting ECB speak and potential comments from the German Chancellor in a Bundestag Q&A on the draft 2026 budget.
- USTs a similar story with specifics light into supply and FOMC Minutes. Thus far, confined to a 110-24 to 110-29+ band, within Tuesday’s slightly more expansive 110-21+ to 111-01+ parameters, and by extension shy of Monday’s 111-12+ WTD peak.
- Gilts in-fitting with USTs and EGBs. Firmer by a handful of ticks with newsflow light as the UK has already secured a trade deal. Off best, but still firmer, in a 91.63-83 band; as is the case for USTs and Bunds remains shy of peaks at 91.98 and 92.63 from the last two sessions.
- UK sells GBP 4.5bln 4.50% 2035 Gilt: b/c 2.89x (prev. 2.98x), average yield 4.635% (prev. 4.588%) & tail 0.2bps (prev. 0.3bps)
- Germany sells EUR 1.135bln vs exp. EUR 1.5bln 2.60% 2041 and EUR 0.794bln vs exp. EUR 1.0bln 2.50% 2044 Bund
- Click for a detailed summary
COMMODITIES
- Upward bias across the crude contracts with Brent front-month settling north of USD 70/bbl yesterday following the OPEC+ surprise over the weekend, in the form of a larger-than-expected supply increase for August.
- WTI resides in a USD 67.78-68.94/bbl range while its Brent counterpart trades in a USD 69.85-70.71/bbl range.
- Softer trade across precious metals despite a relatively stable Dollar. Weakness in the complex could be a function of optimism regarding trade deals. Spot gold continues yesterday’s weakness and resides in a USD 3,282.66-3,308.15/oz range, with the next point the 30th June trough at USD 3,244.42/oz.
- Base metals are softer, in Europe, despite the commentary from Trump on copper tariffs lifting to 50%. Front-running of US copper ahead of the potential 50% tariff has widened the Comex-LME arbitrage to over USD 2,000/t and pushed Comex inventories above combined LME and SHFE levels, writes ING.
- US Private Inventory Data (bbls): Crude +7.1mln (exp. -2.1mln), Distillate -0.8mln (exp. -0.3mln), Gasoline -2.2mln (exp. -1.5mln), Cushing +0.1mln.
- Mexico’s Economy Minister said he will have a call with US authorities to discuss copper tariffs and see what they apply to.
- UAE Energy Minister says not worried about oil supply overhang, not seen an increase in inventories. Adds, they are losing some of the world’s spare oil capacity Y/Y as some nations cannot produce what they did last year or last month and nobody is talking about peak oil demand anymore, demand has surpassed predictions.
- Goldman Sachs maintains its December 2025 LME Copper price forecast at USD 9.7k. Changes the baseline view on US tariffs on copper imports to 50% (prev. exp. 25%).
- West African cocoa production is likely to see another 10% decline in the upcoming 2025/26 season, according to Reuters citing industry sources.
- Click for a detailed summary
NOTABLE EUROPEAN HEADLINES
- BoE Financial Stability Report – July 2025; maintains CCyB at 2%. Uncertainty around the global risk outlook remains materially elevated compared to the time of the November FSR. Bank plans to engage with industry through an upcoming discussion paper, which will seek views on potential options to help mitigate gilt repo market vulnerabilities.
- BoE’s Bailey (at the FSR) says risks and uncertainty still elevated. UK borrowers are resilient and can be supported by banks. Steepening in yield curves is not particularly UK-focused. Steepening in yield curves will need to be looked at carefully when it comes to the QT decision. QT is an open decision.
- Union confirms that UK Junior Doctors will go on strike between July 25-30th.
NOTABLE US HEADLINES
- White House NEC Director Kevin Hassett has emerged as a contender for the next Fed Chair in a possible threat to early favourite Kevin Warsh and has met with President Trump at least twice in June regarding the job, according to WSJ.
- DoJ said to be investing UnitedHealth’s (UNH) Medicare billing, according to WSJ sources.
- US Speaker Johnson, when asked on government funding state of play, said “We want to appropriate at lower levels. We just have to determine what those levels are exactly”, via Punchbowl.
GEOPOLITICS
MIDDLE EAST
- US President Trump exerted strong pressure on Israeli PM Netanyahu during their meeting to end the war, according to Yedioth Ahronoth citing informed sources.
- Qatari delegation arrived on Tuesday for talks at the White House regarding the hostage deal and ceasefire in Gaza, according to Axios citing a source familiar.
- IDF presence in Gaza is understood to be the ‘only issue’ still to be resolved in the push for Israel-Hamas ceasefire and the two sides have bridged significant differences on several other issues, according to Sky News citing sources.
- Kann News citing Saudi royal family sources believes that the agreement being formulated between Israel, Syria and the United States could have a positive effect and prepare the ground for an agreement with the Saudis as well.
- US Envoy Witkoff said to have postponed travel to Doha for Israel-Hamas peace talks, according to Times of Israel.
RUSSIA-UKRAINE
- White House considers giving Ukraine another Patriot air defence system, according to the Wall Street Journal.
- Ukrainian attack on a beach in the Russian city of Kursk killed three people, according to the regional governor.
- Russia launched a “record” 728 drones overnight and 13 missiles, according to Ukraine’s Air Force.
- German Chancellor Merz says diplomatic means to resolve the Ukraine war have been exhausted.
- Russia’s Kremlin says “we are calm” about US President Trump’s criticism of Russian President Putin. Trump has a tough style in the phrases he uses. Will continue to try to fix the broken Russia-US relationship.
- Ukrainian President Zelensky is due to meet with US Special Envoy Kellogg during his visit to Rome, according to Ifax.
CRYPTO
- Bitcoin contained, in a relatively narrow range with specifics light as we await further tariffs updates later in the session. At best, still just under 1k from the in-focus USD 110k mark.
APAC TRADE
- APAC stocks traded mixed following the similar performance stateside where tariff updates remained in focus after the US flagged more tariff letters and President Trump suggested a 50% tariff on copper.
- ASX 200 marginally retreated with most sectors in the red although price action was confined within tight parameters.
- Nikkei 225 swung between gains and losses amid global trade uncertainty, while there were balanced comments from BoJ’s Koeda who stated it is inappropriate to say the specific timing of the next rate hike now due to high uncertainty but added the BoJ must debate how much it should eventually shrink its expanded balance sheet and balance of JGB holdings.
- Hang Seng and Shanghai Comp conformed to the mixed overall picture in the region as property names dragged the Hong Kong benchmark lower, while the mainland remained afloat as participants reflected on mixed inflation data from China.
NOTABLE ASIA-PAC HEADLINES
- China’s state planner chair said to expect the size of China’s economy to exceed CNY 140tln this year and noted that foreign tech curbs can only strengthen China’s tech innovation and resolve on self-reliance.
- BoJ’s Koeda said recent rises in Japan’s food and rice prices were stronger than expected at the time of BoJ’s May policy meeting and they are watching the development carefully, while he added the BoJ’s weighted median inflation is still below 2% and must scrutinise whether momentum for stable inflation is becoming embedded in Japan’s economy. Koeda also commented that it is inappropriate to say the specific timing of the next rate hike now due to high uncertainty over the economic outlook and stated the BoJ must debate how much it should eventually shrink its expanded balance sheet and balance of JGB holdings.
- ex-BoJ policymaker Sakurai says BoJ will hold off rate hikes until March due to the US tariffs, according to Reuters.
- RBNZ kept the OCR at 3.25%, as expected, while it stated that if medium-term inflation pressures continue to ease as projected, the Committee expects to lower the OCR further and annual consumer price inflation will likely increase towards the top of the Monetary Policy Committee’s 1-3% target band over mid-2025. RBNZ stated the economic outlook remains highly uncertain and further data on the speed of New Zealand’s economic recovery, the persistence of inflation, and the impacts of tariffs will influence the future path of the OCR. The minutes from the meeting stated the Committee expects to lower the official cash rate further, broadly consistent with the projection outlined in May and the case for keeping the OCR on hold at this meeting highlighted the elevated level of uncertainty and the benefits of waiting until August in light of near-term inflation risks. Furthermore, the Committee discussed the options of cutting the OCR by 25bps or keeping the OCR on hold at this meeting and some members emphasised that further monetary easing in July would provide a guardrail to ensure the recovery of economic activity.
- China State Council issues notice on stepping up support for employment, via Xinhua; will support enterprises in stabilising jobs; will expand the scope of social insurance subsidies. To further enrich the policy toolkit in order to stabilise employment.
DATA RECAP
- Chinese CPI MM (Jun) -0.1% vs. Exp. -0.1% (Prev. -0.2%); YY 0.1% vs. Exp. 0.0% (Prev. -0.1%)
- Chinese PPI YY (Jun) -3.6% vs. Exp. -3.2% (Prev. -3.3%)
2c) Asian report
Stocks steady despite Trump tariff threats on Copper and Pharma, awaiting US-EU updates – Newsquawk Europe Market Open
Wednesday, Jul 09, 2025 – 01:15 AM
- APAC stocks traded mixed following the similar performance stateside where tariff updates remained in focus.
- US President Trump said he will announce something on pharmaceuticals very soon and will be announcing semiconductor tariffs, believes the copper tariff will be 50%.
- President Trump said the US is probably two days off from sending the EU a letter, which means a deal.
- European equity futures indicate a slightly higher cash market open with Euro Stoxx 50 future up 0.3% after the cash market closed with gains of 0.6% on Tuesday.
- DXY is a touch higher with the USD mixed vs. peers (stronger vs. havens, weaker vs. antipodeans).
- RBNZ maintained the OCR at 3.25%, as expected, hinted at future rate cuts ahead.
- Looking ahead, highlights include BoE FSR, FOMC Minutes, RBA’s Hunter, BoE Governor Bailey, ECB’s Lane, Nagel & de Guindos, Supply from UK, Germany & US.
SNAPSHOT
Newsquawk in 3 steps:
1. Subscribe to the free premarket movers reports
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 day
US TRADE
EQUITIES
- US stocks were choppy and the major indices finished mixed amid a lack of tier-1 data or Fed speak and as tariff updates dominated the slate after President Trump sent out 14 trade letters on Monday and with Commerce Secretary Lutnick anticipating another 15-20 trade letters to go out over the next 2 days. Furthermore, Trump stated during a cabinet meeting that he is to announce something on pharmaceuticals very soon and believes the copper tariff will be 50%, which immediately lifted copper prices by over 10% to a record high.
- SPX -0.07% at 6,226, NDX +0.07% at 22,702, DJI -0.37% at 44,241, RUT +0.66% at 2,229.
- Click here for a detailed summary.
TARIFFS/TRADE
- US President Trump said some letters are at 60% and 70% rate, while he said he could have been much harsher on trade and that he could go higher with tariffs.
- US President Trump said they have a really good relationship with China lately and China has been very fair on the trade deal, while he speaks with Chinese President Xi often. Trump also said the EU has been speaking to the US and is treating the US very nicely, while they are probably two days off from sending the EU a letter which means a deal.
- US President Trump said August 1st is not a change, it is a clarification maybe and we are picking a number that is low and fair, while he added that BRICS are getting a 10% charge pretty soon and that BRICS was set up to hurt the US. Furthermore, he said the dollar is king and will keep it that way.
- US President Trump said he will announce something on pharmaceuticals very soon and will be announcing semiconductor tariffs, while he believes the copper tariff will be 50%. Trump added “going to give people about a year, year and a half to come in and after that they are going to be tariffed if they have to bring the pharmaceuticals, drugs into the country, and will be a very high rate, something like 200%”.
- US President Trump delayed reciprocal tariffs as Treasury Secretary Bessent wanted more time on deals, according to WSJ.
- US President Trump posted they “will be releasing a minimum of 7 Countries having to do with trade” on Wednesday morning and with an additional number of countries to be released in the afternoon.
- US Commerce Secretary Lutnick expects another 15-20 trade letters to go out over the next 2 days.
- EU negotiators are closing in on a trade deal with US President Trump that would leave the EU facing higher tariffs than the UK, with the EU not expecting to achieve the same access to the US market as British steel, cars and other products subject to sectoral duties. Furthermore, Brussels is ready to sign a temporary “framework” agreement that sets Trump’s “reciprocal” tariff at 10% while talks continue, according to FT.
- China’s Commerce Ministry placed eight Taiwanese companies on its export control list due to concerns regarding dual-use technologies.
NOTABLE HEADLINES
- US President Trump said Fed Chair Powell should resign immediately, while he later posted that Fed Chair Powell should cut interest rates and that now is the time.
- White House NEC Director Kevin Hassett has emerged as a contender for the next Fed Chair in a possible threat to early favourite Kevin Warsh and has met with President Trump at least twice in June regarding the job, according to WSJ.
APAC TRADE
EQUITIES
- APAC stocks traded mixed following the similar performance stateside where tariff updates remained in focus after the US flagged more tariff letters and President Trump suggested a 50% tariff on copper.
- ASX 200 marginally retreated with most sectors in the red although price action was confined within tight parameters.
- Nikkei 225 swung between gains and losses amid global trade uncertainty, while there were balanced comments from BoJ’s Koeda who stated it is inappropriate to say the specific timing of the next rate hike now due to high uncertainty but added the BoJ must debate how much it should eventually shrink its expanded balance sheet and balance of JGB holdings.
- Hang Seng and Shanghai Comp conformed to the mixed overall picture in the region as property names dragged the Hong Kong benchmark lower, while the mainland remained afloat as participants reflected on mixed inflation data from China.
- US equity futures (ES -0.1%, NQ U/C) were lacklustre after yesterday’s inconclusive performance as participants awaited tariff updates.
- European equity futures indicate a slightly higher cash market open with Euro Stoxx 50 future up 0.3% after the cash market closed with gains of 0.6% on Tuesday.
FX
- DXY gradually extended on the prior day’s marginal gains amid a lack of tier-1 data and as focus centred on recent tariff updates including US President Trump signalling a 50% tariff on copper and he also flagged trade letters for a minimum of 7 countries on Wednesday morning followed by a further number of countries in the afternoon. Furthermore, participants also look ahead to the latest FOMC Minutes, while Trump renewed his calls for Powell to lower interest rates and to resign.
- EUR/USD marginally softened in relatively quiet trade despite some optimistic comments from US President Trump regarding the EU, which he stated has been speaking to the US and is treating the US very nicely, while he added they are probably two days off from sending the EU a letter and that a letter means a deal.
- GBP/USD remained contained following a recent slip to sub-1.3600 territory, with price action not helped by light catalysts.
- USD/JPY continued to advance and reclaimed the 147.00 status with little to derail the yen’s recent weakening trend.
- Antipodeans were choppy amid the mixed risk appetite and in the aftermath of the RBNZ rate announcement in which the central bank maintained the OCR at 3.25%, as expected, but hinted at future rate cuts ahead.
- PBoC set USD/CNY mid-point at 7.1541 vs exp. 7.1806 (Prev. 7.1534).
FIXED INCOME
- 10yr UST futures remained constrained after trickling lower yesterday amid supply and ongoing trade updates.
- Bund futures lacked demand after a recent retreat and heading into the Bund issuances scheduled later today.
- 10yr JGB futures tracked recent downside in global peers with price action not helped by the lack of pertinent tier-1 data, while there were somewhat balanced comments from BoJ’s Koeda.
COMMODITIES
- Crude futures slightly pulled back from yesterday’s peak with headwinds seen following the latest private sector inventory data which showed a surprise substantial build in headline crude stockpiles.
- US Private Inventory Data (bbls): Crude +7.1mln (exp. -2.1mln), Distillate -0.8mln (exp. -0.3mln), Gasoline -2.2mln (exp. -1.5mln), Cushing +0.1mln.
- EIA STEO stated 2025 world oil demand is seen at 103.5mln BPD (prev. 103.5mln BPD) and 2026 world oil demand at 104.6mln BPD (prev. 104.6mln BPD).
- Spot gold was lacklustre amid a marginally firmer dollar and heading into today’s FOMC Minutes.
- Copper futures held on to the prior day’s significant gains after surging over 10% to a record high in the aftermath of tariff comments from US President Trump who believes the copper tariff will be 50%.
- Chile’s Foreign Ministry said it has not received information from counterparts indicating the implementation of an effective tariff on copper, while Codelco’s Chairman said they cannot give an opinion on President Trump’s proposed copper tariffs until it is official as they need to see if some countries will be excluded, and see what copper products are affected.
- Mexico’s Economy Minister said he will have a call with US authorities to discuss copper tariffs and see what they apply to.
CRYPTO
- Bitcoin trickled lower after failing to sustain a brief return above the USD 109k level.
NOTABLE ASIA-PAC HEADLINES
- China’s state planner chair said to expect the size of China’s economy to exceed CNY 140tln this year and noted that foreign tech curbs can only strengthen China’s tech innovation and resolve on self-reliance.
- BoJ’s Koeda said recent rises in Japan’s food and rice prices were stronger than expected at the time of BoJ’s May policy meeting and they are watching the development carefully, while he added the BoJ’s weighted median inflation is still below 2% and must scrutinise whether momentum for stable inflation is becoming embedded in Japan’s economy. Koeda also commented that it is inappropriate to say the specific timing of the next rate hike now due to high uncertainty over the economic outlook and stated the BoJ must debate how much it should eventually shrink its expanded balance sheet and balance of JGB holdings.
- RBNZ kept the OCR at 3.25%, as expected, while it stated that if medium-term inflation pressures continue to ease as projected, the Committee expects to lower the OCR further and annual consumer price inflation will likely increase towards the top of the Monetary Policy Committee’s 1-3% target band over mid-2025. RBNZ stated the economic outlook remains highly uncertain and further data on the speed of New Zealand’s economic recovery, the persistence of inflation, and the impacts of tariffs will influence the future path of the OCR. The minutes from the meeting stated the Committee expects to lower the official cash rate further, broadly consistent with the projection outlined in May and the case for keeping the OCR on hold at this meeting highlighted the elevated level of uncertainty and the benefits of waiting until August in light of near-term inflation risks. Furthermore, the Committee discussed the options of cutting the OCR by 25bps or keeping the OCR on hold at this meeting and some members emphasised that further monetary easing in July would provide a guardrail to ensure the recovery of economic activity.
DATA RECAP
- Chinese CPI MM (Jun) -0.1% vs. Exp. -0.1% (Prev. -0.2%)
- Chinese CPI YY (Jun) 0.1% vs. Exp. 0.0% (Prev. -0.1%)
- Chinese PPI YY (Jun) -3.6% vs. Exp. -3.2% (Prev. -3.3%)
GEOPOLITICS
MIDDLE EAST
- US President Trump exerted strong pressure on Israeli PM Netanyahu during their meeting to end the war, according to Yedioth Ahronoth citing informed sources.
- US envoy Witkoff is hopeful they will have an agreement for a 60-day ceasefire by the end of the week.
- Qatari delegation arrived on Tuesday for talks at the White House regarding the hostage deal and ceasefire in Gaza, according to Axios citing a source familiar.
- IDF presence in Gaza is understood to be the ‘only issue’ still to be resolved in the push for Israel-Hamas ceasefire and the two sides have bridged significant differences on several other issues, according to Sky News citing sources.
- French intelligence assessed that all parts of Iran’s nuclear programme have been seriously hit and damaged, while the French intelligence chief said Iran’s nuclear programme has been pushed back several months. Furthermore, it was stated that a little part of Iran’s highly enriched uranium was destroyed, but the rest remains in the hands of the authorities.
RUSSIA-UKRAINE
- US President Trump said he is not happy with Russian President Putin and is looking at Russian sanctions.
- White House considers giving Ukraine another Patriot air defence system, according to the Wall Street Journal.
- Ukrainian attack on a beach in the Russian city of Kursk killed three people, according to the regional governor.
3 .ASIA
3A NORTH KOREA/SOUTH KOREA
3B JAPAN/SOUTH KOREA
3C CHINA
CHINA/GERMANY
this is dangerous!!
Berlin Summons Chinese Ambassador After Warship Targeted German Plane With Laser
Wednesday, Jul 09, 2025 – 04:15 AM
Germany is blistering angry, and has summoned the Chinese ambassador, after its military alleged that a China’s People’s Liberation Army (PLA) vessel targeted a German aircraft with a laser during a European Union joint operation.
“Endangering German personnel & disrupting the operation is entirely unacceptable,” Germany’s foreign office said in a Tuesday past on X. “The Chinese ambassador was summoned to the Federal Foreign Office today.”
The incident reportedly happened in the Indian Ocean and Red Sea areas, amid the EU’s Operation ASPIDES, which seeks to secure international shipping from piracy and other attacks.
Der Spiegel has described that “Possible damage is still unclear and is still being investigated” – in reference to a German reconnaissance plane of unspecified type which was apparently operating over waters off Yemen’s coast.
German media reports indicate that the aircraft was approaching a Chinese frigate at the time, thus the laser deployment may have been a defensive response, which is not uncommon among military vessels approached by unknown or foreign aircraft.
The following details have also been revealed:
A German defense ministry spokesperson said the aircraft involved in the incident earlier this month was a multi-sensor platform plane. Known as a “flying eye” for its wide-range surveillance capabilities over the sea, it is piloted by civilians with military personnel on board.
The aircraft was conducting a “routine operation flight over the Red Sea” when it was “targeted by a laser without reason or prior contact by a Chinese warship that had already been encountered several times in the sea area”, the spokesperson said in an emailed statement. “By using the laser, the warship accepted risk to people and property.”
And Newsweek has separately reviewed, “In 2018, the Pentagon accused Chinese nationals of shining military-grade laser pointers at US pilots operating out of the US base in Djibouti, which is used for counter-terrorism operations in east Africa and Yemen.”
“In one case, two pilots on a C-130 cargo plane reportedly suffered minor eye injuries as they came in to land at the base,” the report noted.
The EU mission in these waters has been active since February 2024, which has been touted as a necessary defensive maritime security operation to safeguard Red Sea navigation.
The United States recently withdrew from its conflict with the Houthis, and there’s been an uneasy maritime ceasefire involving the US Navy, but other ships have just this week come under attack.
Washington had long urged for Europe to step up its defenses of these regional waterways, something which does appear to be happening at least on a limited basis.
end
CHINA/USA
this is long overdue: USA moves to ban Chinese purchases of USA farmland
(zerohedge)
US Moves To Ban Chinese Purchases Of US Farmland Over National Security Concerns
Tuesday, Jul 08, 2025 – 03:00 PM
Authored by Jackson Richman via The Epoch Times,
Secretary of Agriculture Brooke Rollins announced on July 8 that the United States will be moving to ban Chinese ownership of U.S. farmland over national security concerns.
During a press conference with Defense Secretary Pete Hegseth, Homeland Security Secretary Kristi Noem, and other top officials, Rollins said the Trump administration will work with states and use executive actions to ban ownership of U.S. agriculture by Chinese and nationals of other adversaries.
During a call with reporters on July 7, Rollins acknowledged there was no way for her agency to take back farmland owned by the Chinese and other foreign buyers.
“USDA is not in the role to be able to do that,” she said.
The national security action plan released by the Department of Agriculture (USDA) and obtained by The Epoch Times states that, “Land owned by foreign nationals—particularly those from countries of concern…or other foreign adversaries—is a potential threat to national security and future economic prosperity. USDA will ensure transparency of foreign U.S. agricultural land ownership and pursue robust and overdue updates to data collection, reporting, and analysis.”
The USDA, according to the plan, will implement reforms such as creating an online filing system to require foreign entities to report their holdings and transactions in the U.S. agricultural marketplace.
It will also work alongside Congress and states to pass and implement laws to take “action to end the direct or indirect purchase or control of American farmland by nationals from countries of concern or other foreign adversaries.”
Additionally, the USDA will sign a memorandum of understanding with the Treasury Department to “ensure regular coordination” with the agriculture secretary related to reviews by the Committee on Foreign Investment in the United States (CFIUS) when it comes to foreign transactions involving the agriculture sector, according to the plan.
Rollins announced that she will sit on CFIUS, a panel that reviews foreign purchases for national security risks, beginning July 8.
Chinese ownership of U.S. farmland has been a concern in both the agricultural and national security sectors.
A U.S. Government Accountability Office report in 2024 said that U.S. agencies were in the dark about Chinese ownership of American farmland.
“This report confirms one of our worst fears: that not only is the USDA unable to answer the question of who owns what land and where, but that there is no plan by the department to internally reverse this dangerous flaw that affects our supply chain and economy,” said Rep. Dan Newhouse (R-Wash.) at the time.
In July 2024, the Biden administration took executive action to shutter Chinese majority-owned MineOne Partners Ltd. and its affiliates.
end
CHINA
All Eyes On Beijing’s Annual Reshuffle Of Military Chiefs Amid Signs Of Xi’s Waning Power
Monday, Jun 23, 2025 – 11:25 PM
Authored by Alex Wu via The Epoch Times,
As infighting within the top echelons of the Chinese Communist Party (CCP) intensifies, many China watchers are wondering if Chinese leader Xi Jinping is still in power and really in control, especially of the military.
According to long-standing CCP practice, a group of generals are promoted before Army Day on Aug. 1 every year. Since many generals were reported to have been taken down or investigated in an alleged military purge over the last year, whether Xi will promote any generals or announce new appointments before Aug. 1 has attracted attention as an indication of whether he’s still in control of the military.
Xu Qiliang, former vice chairman of the CCP’s Central Military Commission, the highest military leadership body of the communist regime, suddenly passed away on June 2, making him the latest casualty following a string of top CCP military officials who have encountered misfortunes, including sudden death, arrest, or simply disappearing.
Meanwhile, He Weidong, one of two vice chairmen of the Central Military Commission, whose status in the military is second only to the other vice chairman, Zhang Youxia, disappeared from the public eye on March 11 after the closing ceremony of the third session of the National People’s Congress. He is regarded as one of Xi’s most trusted men. There have been rumors coming out of Beijing that He was under investigation.
With this, some observers have speculated that Zhang is now in charge of the CCP’s military and that he stripped Xi’s power last year.
Since two other members of the Central Military Commission—Li Shangfu and Miao Hua—were successively brought down in the two years prior, if He’s absence is officially confirmed, the number of members of the Central Military Commission will drop from seven to four.
Who will fill these top military positions and who will replace the generals who have been pushed out is a focus for this year’s Army Day.
Generals in Prison Enough to Form a Military Company
In the past 13 years since Xi became CCP leader, he has launched waves of “anti-corruption” campaigns to purge his political enemies, many of whom were in the military, to consolidate his power.
“So much resentment has been accumulating for 13 years,” Su Tzu-yun, researcher and director of Division of Defense Strategy and Resources at Taiwan’s Institute for National Defense and Security Research, told the Chinese language Epoch Times on June 16. “The CCP’s internal struggle in the name of anti-corruption is more dangerous than a battlefield.”
But within one year from 2023 to 2024, the Chinese regime began to see purges, with 12 top PLA (People’s Liberation Army) officials removed in the name of “anti-corruption;” including Li Shangfu and Wei Fenghe who were both former ministers of defense, three rocket force commanders, and one air force commander, and others.
In 2024, overseas Chinese media re-posted a now-deleted X post by China observer “Li Jun” listing the names and ranks of 101 top CCP military leaders who were put in jail. Li said there were enough individuals to form a military company, with 97 being at “general-level” alongside four more “colonel-level” cadres.
Su noted that all the senior military officials purged over the last year were previously promoted to their position by Xi.
“At present, it seems that only Zhang Youxia has the power to carry out the purge, and Xi Jinping may have become a rubber stamp, otherwise, not all of them would be people from Xi’s faction,” he said.
U.S.-based China affairs observer Tang Jingyuan shares the same assessment. He told the Epoch Times on June 16 that “not only this wave of the large-scale purge is almost entirely aimed at Xi Jinping’s cronies … those replacements are all people from Zhang Youxia’s faction,” while some positions after the purge remain vacant.
“This means there might have been a huge replacement and transfer of power in the CCP’s military,” Tang said. “Once control over the military is transferred, it means that the party leader’s power base has collapsed. So now, Xi Jinping may still be the top leader in name, but in fact, he has lost control of the highest power of the CCP.”
Shen Ming-shih, director of the Division of National Security Research at Taiwan’s Institute for National Defense and Security Research, told The Epoch Times on June 16 that such speculation is difficult to confirm as there is no public information about the power struggles within the CCP, and no way to get official clarification or proof of any internal strife either.
Soldiers of the People’s Liberation Army are seen before a giant screen as Chinese leader Xi Jinping speaks at the military parade marking the 70th founding anniversary of the regime in Beijing on Oct. 1, 2019. Jason Lee/Reuters
“It’s expressed entirely through vague information or vague language, and even deliberately uses such vague language to indicate who is in power or who has stepped down. It’s harder for the outside world to read these signs.”
Possible Personnel Changes by Army Day
U.S.-based China affairs commentator Chen Pokong told The Epoch Times that this year’s Army Day will be a major point to observe who will be promoted in the military and which faction they belong to.
“If they really want to add new members to the Central Military Commission on the Aug. 1 Army Day, they must be confirmed by the Fourth Plenary Session of the CCP’s Central Committee, which is definitely a big fight between the Xi faction and the anti-Xi faction.”
If new members are added, it will also show which faction has the upper hand in the CCP’s infighting, Chen said.
Shen said it remains unclear which exact dates the Fourth Plenary Session of the Central Committee will be held amid the rumors of a power struggle.
“If it is held before the end of June, the CCP’s general secretary or the Central Military Commission will have made the personnel arrangement to promote a group of generals before the Aug. 1 Army Day,” he said.
Insiders close to the regime’s top circle have leaked two possible dates for the top CCP political meeting. Well-known independent current affairs commentator Cai Shenqun cited a source within the regime saying that the Fourth Plenary Session will be held Aug. 27 to Aug. 30.
Meanwhile, Australia-based current affairs commentator Jiang Wangzheng has said that according to his source in China, the top meeting will be held on Oct. 13 to Oct. 16.
Chen said that the CCP’s personnel arrangements are opaque and that it has been very difficult for the various factions to reach an agreement.
“The internal struggles of the CCP’s top leaders may be far more fierce than the outside world imagines, and the CCP and its military are in a precarious state,” he said.
4 European affairs
GERMANY
Crime rates rise astronomically in Germany and it is generally the migrants doing the crime
(ReMix)
Gov’t Report Exposes Astronomical Crime-Rates For Young Foreigners Compared To German Youth
Wednesday, Jul 09, 2025 – 03:30 AM
New German federal government statistics indicate that young foreigners are disproportionately represented as suspects in numerous crimes, with particularly significant differences in street crime and shoplifting.
The suspect burden figure (TVBZ) has been compiled by the Federal Criminal Police (BKA) and published in the Police Crime Statistics (PKS) starting this year. This ratio shows the total number of identified suspects over the age of eight, and is calculated per 100,000 inhabitants per population group. It examines all crimes except for immigration law violations, and the data presents a concerning trend.
For German suspects across all age groups, the TVBZ is 1,878.
In contrast, Syrian suspects have a TVBZ of 8,236, and Afghan suspects are at 8,753 — more than four times higher.
However, when the data is compared among young people, the disparity is even more pronounced. Syrians between 14 and 18 years old are five times more likely to commit a crime than Germans in the same age bracket.
However, in regard to other groups of young people from North Africa, the difference is even more astronomical. Algerian youth feature a TVBZ rate that is a tremendous 56 times higher than Germans.
For Moroccans, it is 19 times higher.
Differences are also notable across specific offense categories. In street crime, which includes offenses like bodily harm, robbery, sexual harassment, and pickpocketing, the TVBZ for German suspects is 168. For Syrians, this figure jumps to 1,291, and for Afghans, it’s 1,218—nearly eight times as high.
The data was released after a parliamentary inquiry from AfD domestic policy spokesperson Martin Hess, who criticized the findings, stating, “This is the predictable result of a migration policy that has been completely failed for decades and has given up all control since 2015 at the latest.”
Hess had previously requested detailed data on crime rates among foreigners, broken down by nationality and age group, in a small inquiry in June.
This data also needs to be considered from another perspective. Many of these German citizen suspects have a foreign background; however, there is often no way of knowing how many of these suspects have a foreign background because Germany does not record this information.
There are some ways around this. As data from North Rhine-Westphalia showed, when the first names of gang rape suspects are analyzed, it shows that at least half of the German citizens clearly had names from a foreign background, such as Mohammad.
During the Berlin riots on New Year’s, a list of the names of suspects was leaked to the press, which showed a huge number of the “German” suspects actually had foreign names.
A top Berlin prosecutor has indicated that up to three out of four clan members have German citizenship.
Any time any of these suspects commit a crime, it is recorded as a German suspect. If Germany kept data on the crime rate of German citizens with a foreign background, as Denmark does, it would likely reveal an incredibly high crime rate among this group of German citizens. This policy has been promoted by the AfD, also to help measure the integration rates of foreigners even after generations have resided in Germany.
The new TVBZ data will also pop a myth from the left, which is that foreigners are committing such high rates of violence because they are mostly young men. However, as the data shows, German suspects, when compared to foreign suspects from the same exact age group, often feature dramatically lower crime rates. Germany also has an extremely strong welfare state, which means these foreign youths have access to food, shelter, and consumer goods.
This data comes after crime data showed that German men actually feature lower violence rates than women from a number of different foreign groups.
END
ITALY
a must read!! Central government planning never works. This is blowing up spectacularly
(Mish Shedlock)
Central-Planning Car-Production In Italy Blows Up Spectacularly, US Next
Wednesday, Jul 09, 2025 – 05:00 AM
Authored by Mike Shedlock via MishTalk.com,
Stellantis agreed to build 1 million cars in Italy. It’s on a pace for 440,000…
Who Is Stellantis?
Stellantis, a global automotive group formed by the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA. It encompasses several iconic American automotive brands like Jeep, Chrysler, Dodge, and Ram.
European counterparts include Citroën, Peugeot, Fiat, and Maserati.
Production Slump
Please note the Grim Production Figures from Stellantis.
The Italian Metalworkers union FIM CISL projects that Stellantis will produce around 440,000 vehicles in Italy in 2025. This is less than half the target of one million vehicles by 2030 that Stellantis had agreed upon with the Italian government. This projected annual production of 440,000 vehicles is a further decline from the already low 475,090 vehicles produced in Italy in 2024, which itself marked a 37% decrease from 2023. This situation signals a significant shortfall from the previously agreed upon production goal for Italy.
Italy’s Car Nightmare
Eurointelligence comments on Italy’s Car Nightmare
Car production in Italy is having a terrible time. Stellantis, by far the biggest car producer in the country, is producing volumes that are severely down year-on-year. According to the FIM-CISL trade union, it made 33.6% fewer cars in the first half of 2025 than in the same period in 2024. If you take van production into account, the year-on-year drop is 26.9%.
By the end of the year, the union estimates that Stellantis will have produced 440,000 vehicles a year. If this turns out to be true, it will be well below the 1m vehicle per year target that the firm agreed on with the Italian government.
There are lessons from this entire experience that the Italian government should learn, and other ones that it will probably learn. One is that industrial policy should focus on new technology, and providing incentives for it, rather than dragging the old along. Italy was slow to the mark in getting an incentive scheme together for electric cars. More work could also have taken place, especially at the European level, on the electric car supply chain. China, now the world’s dominant electric carmaker, has been doing this for decades. We are way behind the curve.
But the lesson the government probably will learn is that it is risky to let big businesses fall out of Italian hands. Stellantis came about in 2021, after a merger between Fiat-Chrysler and the French Peugeot. The Italian Fiat, and its founding family, the Agnellis, were the dominant players in the Fiat-Chrysler relationship. Their influence has been diluted in the subsequent merger with Peugeot to create Stellantis.
The Italian government is likely to view it as not coincidental that the big drop-off in car production happened soon after the merger. It has already had various spats with Stellantis, which has tried to placate the government on several occasions. If car production in Italy continues to prove underwhelming, it wouldn’t be surprising to see the government double down on trying to keep the country’s largest firms in Italy.
Obvious Questions
Eurointelligence seldom misses the boat this badly.
Why should government be telling companies how many cars to make?
This has little to do with the merger other than a stupid decision to ramp up EVs that few want.
Rough Four Years
The Street reports Jeep parent Stellantis explores shocking move for struggling brand
Under former CEO Carlos Tavares’ leadership, Stellantis laid off American factory workers, shuffled its C-suite, and forced its U.S. brands to push products that American customers didn’t like.
Stellantis and Tavares separated in December, leaving the conglomerate rudderless for about six months before the company made a late May announcement.
Stellantis is considering the possible sale of its luxury Maserati unit, among other options, Reuters reported.
McKinsey, which is advising Stellantis on the matter, has also said divestment of its only luxury brand is a viable option. Stellantis responded bluntly to the reports: “Respectfully, Maserati is not for sale,” a company spokesperson said.
But low sales in North America was one of the reasons Tavares is no longer head of Stellantis. So is the fact that Maserati saw sales decline by more than half in 2024 to 11,300 units, while posting an operating loss of 260 million euros ($298 million) last year.
The Wall Street Journal reported that Stellantis would idle its minivan plant in Windsor, Canada, for two weeks and shutter its Jeep facility in Toluca, Mexico, for the rest of the month.
Government Meddling Is the Problem
The US under Biden, and the EU nannycrats in general set untenable goals for EVs. Companies ramped up production for cars that few wanted.
The automakers are not profitable or barely profitable without energy tax credits.
Trump put an end to that but created his own distortions. Making cars in the US like he wants is guaranteed to do one thing, and that’s raise prices.
We cannot build cars here as cheaply as we can in Mexico. Consumers, not Mexico will pay the price.
END
5 RUSSIAN AND MIDDLE EASTERN AFFAIRS
ISRAEL VS IRAN
Iran ‘Rapidly’ Beefs Up Air Defenses With Chinese Help After Israel Ceasefire
Tuesday, Jul 08, 2025 – 05:00 PM
Iran has taken possession of Chinese surface-to-air missile batteries as Tehran rapidly moves to rebuild defensives destroyed by Israel during their recent 12-day conflict, sources have told Middle East Eye.
The deliveries of Chinese surface-to-air missile batteries occurred after a de-facto truce was struck between Iran and Israel on June 24, an Arab official familiar with the intelligence told MEE.
Another Arab official, who spoke on the condition of anonymity to discuss the sensitive intelligence, said that the US’s Arab allies were aware of Tehran’s efforts to “back up and reinforce” its air defenses and that the White House had been informed of Iran’s progress.
The officials did not say how many surface-to-air missiles, or SAMs, Iran had received from China since the end of the fighting. However, one of the Arab officials said that Iran was paying for the SAMs with oil shipments.
China is the largest importer of Iranian oil, and the US Energy Information Administration suggested in a report in May that nearly 90 percent of Iran’s crude and condensate exports flow to Beijing.
For several years, China has imported record amounts of Iranian oil despite US sanctions, using countries such as Malaysia as a transshipment hub to mask the crude’s origin.
“The Iranians engage in creative ways of trading,” the second Arab official told MEE. Israeli Prime Minister Benjamin Netanyahu and US President Donald Trump likely heavily discussed Iran and its nuclear program when they meet on Monday.
MEE reached out to the White House for comment but did not receive a response by the time of publication.
Deepening relationship
The shipments mark a deepening of Beijing’s relationship with Tehran and come as some in the West noted that China and Russia appeared to keep a distance from Iran amid Israel’s unprecedented attacks.
Israel achieved air superiority over Iran’s skies during the conflict, destroying ballistic missile launch pads and assassinating Iranian generals and scientists.
Despite this, the government endured the strikes. It was also able to continue firing ballistic missiles at Israel, decimating several sensitive sites in Tel Aviv and Haifa before a ceasefire took hold.
In the late 1980s, Iran received HY-2 Silkworm cruise missiles from China via North Korea when it was at war with Iraq.
The Islamic Republic used the missiles to attack Kuwait and strike a US-flagged oil tanker during the so-called tanker wars. In 2010, there were reports that Iran received HQ9 anti-aircraft missiles from China.
Iran is believed to use Russia’s S-300, which is capable of engaging aircraft and UAVs in addition to providing some cruise and ballistic missile defense capability, as well as older Chinese systems and locally produced batteries such as the Khordad series and the Bavar-373.
These systems are believed to have a limited ability to shoot down the US F-35 stealth warplane that Israel operates.
China already sells its HQ-9 and HQ-16 air defence systems to Pakistan. Egypt is also understood to have China’s HQ-9 system, according to reports.
END
ISRAEL IRAN
ISRAEL VS HAMAS
Israel’s Army Still Taking On Mass Casualties After 640 Days Of War In Gaza
by Tyler Durden
Tuesday, Jul 08, 2025 – 06:00 PM
Over 630 days of war later and much of Hamas’ top command has been wiped out, and large swathes of the Gaza Strip obliterated. It’s been no secret that the Netanyahu government is pursuing the complete annihilation of Hamas, ensuring that it can never again return to rule, but the reality is that the Israeli army (IDF) is still taking on mass casualties.
This shows that the Hamas insurgency, using the Strip’s hundreds of miles of tunnels, is still fierce and ongoing. “Five Israeli soldiers were killed in combat in the Gaza Strip, the Israeli army admitted on Tuesday, in one of the deadliest days for Israeli forces in the devastated Palestinian territory this year,” regional media reports.
The five soldiers “fell during combat in the northern Gaza Strip,” the IDF announced. In total 14 others were wounded. Included were two that were severely wounded and “evacuated to a hospital to receive medical treatment.”
They came under attack near Beit Hanoun in the north of Gaza,when improvised explosive devices were detonated, after which Israeli soldiers who sought to rescue the wounded came under fire again. Thus it’s clear that either Hamas or Islamic Jihad militants set a trap and ambush for the soldiers.
The IDF and Israeli media have described that the infantry troops were operating on foot when the blast happened. One detail which highlights the ongoing extreme difficulty of uprooting the Palestinian insurgency is that the area where the attack occurred was subject of Israeli aerial raids just prior:
The military said the area where the attack took place was targeted from the air ahead of the troops’ operations.
The Netzah Yehuda soldiers were operating under the Gaza Division’s Northern Brigade as part of a fresh offensive with the 646th Reserve Paratroopers Brigade in Beit Hanoun, which began on Saturday, aimed at clearing the area of terror operatives who remain holed up there.
Israeli opposition leader Yair Lapid wrote on X in the wake of the large-scale casualties, “For the sake of the fighters, for the sake of their families, for the sake of the hostages, for the sake of the State of Israel: this war must be ended.”
Israeli society has remained fiercely divided over Netanyahu policy, with hostage victims’ family members outraged that efforts to negotiate a deal to release the remaining captives have completely stalled.
Meanwhile, there is some activity on this front, with Qatar’s foreign ministry on Tuesday saying that renewed indirect negotiations will “need time”. The White House has been supportive of peace efforts, but has sided with Israeli actions in Gaza time and again in its public rhetoric.
“I don’t think that I can give any timeline at the moment, but I can say right now that we will need time for this,” spokesman Majed Al-Ansari said as Doha-hosted discussion entered a third day.
“What is happening right now is that both delegations are in Doha. We are speaking with them separately on a framework for the talks. So talks have not begun, as of yet, but we are talking to both sides over that framework,” he tells a Doha news conference.
END
ISRAEL HAMAS
Witkoff: Points of contention between Israel, Hamas ceasefire drop from four to one
The main difficulty in the hostage deal talks in Qatar is the issue of maps, meaning the deployment of IDF troops during the ceasefire.
US Special Envoy to the Middle East Steve Witkoff speaks during a dinner with US President Donald Trump and Prime Minister Benjamin Netanyahu in the Blue Room of the White House, July 7, 2025(photo credit: Andrew Harnik/Getty Images)ByAMICHAI STEINJULY 8, 2025 20:54
The Trump administration’s Middle East envoy, Steve Witkoff, said on Tuesday that the points of contention between Israel and Hamas to reach a deal have been reduced from four to one.
“I hope that by the end of the week, there will be a chance to reach an agreement,” Witkoff said.
The main difficulty in the hostage deal talks in Qatar is the issue of maps, meaning the deployment of IDF troops during the ceasefire.
Israel is seeking a military presence along the Morag Corridor in the Gaza Strip as part of the ongoing talks.
Defense Minister Israel Katz discussed this in a briefing on Monday, but implied that this would not necessarily be a deal breaker.
“Israel presented problematic maps. It’s not about 100 meters here or 100 meters there, but rather significant changes compared to the withdrawal to the March lines demanded by Hamas,” a source from the mediating countries told The Jerusalem Post.
Netanyahu-Trump second meeting in two days
US President Donald Trump and Prime Minister Benjamin Netanyahu will meet at 4:30 p.m. local time at the White House to discuss ongoing hostage deal talks, the Prime Minister’s Office confirmed on Tuesday.
Yonah Jeremy Bob contributed to this report.
END
ISRAEL/HAMAS/HEZBOLLAH
IDF conducts targeted operations in Lebanon, strike over 100 terror targets in Gaza
The military said these targets included terrorists, booby-trapped structures, weapons storage facilities, anti-tank missile launch posts, tunnels, and other sites.
IDF soldiers operating throughout the Gaza Strip, July 9, 2025.(photo credit: IDF SPOKESPERSON’S UNIT)ByJERUSALEM POST STAFFJULY 9, 2025 11:10Updated: JULY 9, 2025 13:10
The IDF conducted targeted operations in southern Lebanon to prevent Hezbollah from re-establishing itself in the area, the military confirmed on Wednesday.
This included killing terrorists and destroying Hezbollah infrastructure at different points in southern Lebanon.
Reservists identified a compound in the Jabal Blat ridge that contained weapons and served as a firing position, which was dismantled by the soldiers.
In another operation, soldiers located weapons hidden in the Lavona area in southern Lebanon, including a multi-barrel launcher, machine guns, and explosives. An underground facility used to store weapons was also identified and destroyed.
Additionally, the IDF said it killed Hussein Ali Muzhir, who directed Hezbollah rocket attacks against Israel as part of Hezbollah’s Badr Unit.
Muzhir facilitated numerous attacks targeting Israel, as well as efforts to rehabilitate Hezbollah’s artillery in southern Lebanon.
His actions violated the ceasefire between Israel and Lebanon, the military added.
IDF soldiers continued to operate against Hamas and other terror organizations in the Gaza Strip, specifically striking over 100 terror targets, the military stated.
Over 100 targets struck across Gaza in past day
Over the past day, the Israel Air Force struck over 100 terror targets across Gaza.
The military said this included terrorists, booby-trapped structures, weapons storage facilities, anti-tank missile launch posts, tunnels, and other sites.
In northern Gaza, soldiers killed terrorists and located weapons. In the past day, they located and dismantled a cache of explosive devices and landmines hidden in a civilian structure, the IDF said.
Soldiers also killed members of a terrorist cell, dismantled military structures used for terrorist purposes, and struck a Hamas weapons facility site.
The IDF said that soldiers also identified and eliminated a terrorist cell in southern Gaza, as well as terror infrastructure in the Rafah area.
end
ISRAEL HAMAS
IDF begins encircling Beit Hanun, destroying Hamas infrastructure in northern Gaza
The Givati Brigade and troops from Division 99 have begun operations to encircle Beit Hanun in the northern Gaza Strip, the IDF announced Wednesday.
Under the command of Division 162, soldiers have been working to kill terrorists, as well as dismantle infrastructure and damage Hamas’ military capabilities in the area.
ISRAEL GAZA
Israel Defense Minister Unveils Plan For ‘Concentration Camp’ In Gaza
Tuesday, Jul 08, 2025 – 11:50 PM
With Gaza ceasefire negotiations under way and President Trump raising hopes of a deal being reached by week’s end, Defense Minister Israel Katz on Monday revealed that the IDF will create what it calls a “humanitarian city” in the wasteland that is Rafah, and then forcibly concentrate Gaza’s entire population of nearly 2 million people inside it.
Though the Israeli government and its advocates will likely to condemn already-widespread usage of the term “concentration camp” to describe this undertaking — likely claiming it’s somehow antisemitic given the parallels to Nazi Germany — it’s unambiguously applicable under the Merriam-Webster definition of the term:
concentration camp (noun) a place where large numbers of people (such as prisoners of war, political prisoners, refugees, or the members of an ethnic or religious minority) are detained or confined under armed guard
In the first phase, the IDF plans to round up 600,000 displaced Palestinians who are living in the coastal Mawasi area and move them to Rafah, a city in southernmost Gaza that borders Egypt and Israel. Eventually, every Gaza resident will be moved. After security screening, Palestinians will be ushered inside the camp, with IDF guards ensuring that none are able to leave, Katz said.
While the Israeli military will secure the perimeter, the Netanyahu government is looking for some type of international organization(s) to take charge of the interior, to include overseeing the distribution of aid, an enterprise currently managed by the shadowy Gaza Humanitarian Foundation with the IDF dishing out mass killings of Palestinians approaching the aid points; more than 600 are reported dead around the aid stations since late May. Whistleblowing soldiers have told reporters that lethal weapons are being used against unarmed people as brute-force crowd control.
Katz’s announcement contradicts what the IDF Chief of Staff’s office told Israel’s High Court on the very same day. In response to a petition filed by IDF reserve soldiers asking the court to determine if Israel was violating international law by forcibly displacing Palestinians with perhaps the ultimate goal of expelling them, the Chief of Staff’s office said there was no plan to move masses of Gaza residents or to concentrate them somewhere in the territory. However, that assurance is itself seemingly contradicted by the operations order for “Gideon’s Chariots,” the IDF’s latest operation launched in May, which says one objective is “managing and mobilizing the civilian population,” Haaretz reports.
On Monday, Katz also reiterated Israel’s intention to subsequently facilitate Palestinians’ departures to other countries, telling reporters that Israel will implement “the emigration plan, which will happen.” Separately, however, an official told Haaretz that Israel’s overtures to various countries have all been refused. While Israel’s champions commonly claim such refusals prove that Palestinians are dangerously undesirable people, Middle East governments are intensely wary of being perceived by their own populations as facilitating ethnic cleansing by Israel, for fear of domestic backlash up to and including insurrections.
For somewhat similar reasons, Israel is likely to struggle to find what Katz called “international partners” to run the interior of the Rafah concentration camp. Human-rights-oriented groups and foreign governments will recoil at an invitation to serve as a key component of a scheme that most objective observers would characterize as a war crime. Given that, we could see the Gaza Humanitarian Foundation fill the void, which would only compound the controversy.
Meeting with President Trump at the White House on Monday evening, Prime Minister Benjamin Netanyahu struck an optimistic tone about the prospect of mass Palestinian emigration, and characterized the idea as voluntary in nature:
“If people want to stay, they can stay, but if they want to leave, they should be able to leave. We’re working with the United States very closely about finding countries that will seek to realize what they always say, that they wanted to give the Palestinians a better future. I think we’re getting close to finding several countries.“
Trump echoed Netanyahu’s optimism, saying, “We’ve had great cooperation from … surrounding countries, great cooperation from every single one of them. So something good will happen.”
Though the implementation phase is apparently now imminent, the idea of corralling all of Gaza’s population into Rafah and then moving them out has been circulating since the very beginning of Israel’s response to the Hamas invasion of Oct 7 2023. A Ministry of Intelligence policy paper dated Oct 10 2023 and obtained by +972 Magazine that same month recommended herding Gaza’s entire 2.2 million residents south and then forcing them into Egypt’s Sinai Peninsula.
More recently, as Dave DeCamp notes at Antiwar.com, Israeli Finance Minister Bezalel Smotrich outlined a forcible displacement scheme in candid and grim terms that belie Netanyahu’s characterization of coming emigration as “voluntary.” In May, he boasted to attendees of a West Bank settlement conference that Palestinians will have no choice but to abandon a land rendered uninhabitable by the IDF:
“Within a few months…Gaza will be totally destroyed. The Gazan citizens will be concentrated in the south. They will be totally despairing, understanding that there is no hope and nothing to look for in Gaza, and will be looking for relocation to begin a new life in other places.”
Where, exactly, will those “other places” be?
END
HEZBOLLAH/ISRAEL
Troops destroy Hezbollah arms in rare southern Lebanon ground raids, IDF says
Infantry forces inside Lebanon operated in Jabal Blat, Labbouneh areas, around a kilometer from border; Hezbollah commander killed in Tuesday night drone strike, army announces
By Emanuel Fabian FollowToday, 4:36 pm
IDF soldiers operate in southern Lebanon in an image released on July 9, 2025 (Israel Defense Forces)
Israeli ground troops raided several sites inside Lebanon in recent days, destroying Hezbollah weapon depots and other infrastructure, the Israel Defense Forces said Wednesday.
The announcement of the rare special operations in the Lebanon’s south, where Israel has kept troops deployed at five points just north of the border since a November 2024 ceasefire with Hezbollah, came days after a US envoy expressed optimism about pushing ahead with a plan to disarm the Iran-backed terror group.
According to the Israel Defense Forces, soldiers of the 300th “Baram” Regional Brigade who raided a site in the Jabal Blat area — around a kilometer from the Israeli border — located a Hezbollah compound that included a weapons depot and firing positions. The military said the troops demolished the site.
In another raid, the IDF said reservists of the Oded Brigade located weapons hidden in a forested area near Labbouneh — just across from the western portion of the border — including a multiple rocket launcher, a machine gun, and dozens of explosive devices. The weapons were also destroyed.
In the same area, the soldiers also located an underground site used by Hezbollah to store weapons, and it was demolished by combat engineers, the IDF said.
IDF troops conduct raids in southern Lebanon and destroy Hezbollah infrastructure, in videos released by the IDF on July 9, 2025. (Israel Defense Forces)
Under the ceasefire agreement, Hezbollah was required to withdraw its fighters north of the Litani River and dismantle all military infrastructure in southern Lebanon. Israel was to withdraw from Lebanon, while maintaining the right to strike threats to its security.
Get The Times of Israel’s Daily Editionby email and never miss our top storiesNewsletter email addressGet it
By signing up, you agree to the terms
Israeli airstrikes against Hezbollah violations of the ceasefire have been frequent in the months since, but IDF ground operations by troops beyond the areas of the five posts have been much rarer.
The “special, targeted” raids were launched “following intelligence information and the identification of Hezbollah weapons and terrorist infrastructure in several areas of southern Lebanon,” and were intended to “prevent Hezbollah from reestablishing itself in the area,” the military said in a statement.
Troops of the 146th Division operate on the Lebanon border in an undated photo issued on May 28, 2025. (Israel Defense Forces)
The IDF also announced that a Hezbollah commander had been killed in an Israeli drone strike in southern Lebanon a night earlier.
The strike in the town of Babliyeh, south of Sidon, killed Hussein Ali Muzhir, who the IDF said was the commander of Hezbollah’s firepower in the Zahrani River area, under the terror group’s Badr regional division.
“As part of his role, Hussein advanced numerous [rocket] fire attacks toward the State of Israel and IDF troops. Additionally, recently he was involved in attempts to restore the artillery capabilities of the Hezbollah terror group in southern Lebanon,” the military said in a statement.
The IDF said his actions “constitute a blatant violation of the understandings between Israel and Lebanon.”
Israel says it has killed over 180 Hezbollah operatives in strikes against the terror group since the late November ceasefire, alleging violations of the truce agreement.
The ceasefire agreement brought to an end more than a year of fighting with the Iran-backed Hezbollah, including two months of open war in southern Lebanon late last year.
Hezbollah began attacking military outposts and communities in northern Israel unprovoked on October 8, 2023, in a show of support for fellow Iranian terror proxy Hamas in Gaza after it led an invasion and onslaught in southern Israel a day earlier.
Smoke rises after Israeli airstrikes near Nabatieh in southern Lebanon on June 27, 2025. (Rabih Daher/AFP)
On Monday, US envoy Thomas Barrack said he was “unbelievably satisfied” satisfied by the response of Lebanon’s authorities to a request to disarm Hezbollah, part of a process meant to bring a remove the need for Israel to take military action in Lebanon.
“It’s thoughtful, it’s considered. We’re creating a go-forward plan,” he said.
Hezbollah’s leader Naim Qassem said Sunday that the group would not give up its weapons.
Since the ceasefire, the Lebanese state has been working methodically to dismantle Hezbollah’s infrastructure in the south of the country, and is estimated to have seized the majority of the terror group’s weapons stockpile in the same area.
The IDF says its presence at the five points near the border are necessary to ensure the safety of Israeli communities.
AFP contributed to this report.
SYRIA
Syria’s Sharaa Met With Top Israeli Officials In ‘Quiet’ Normalization Effort: Reports
Tuesday, Jul 08, 2025 – 10:10 PM
A Syrian newspaper as well as several Israeli media sources are reporting that Syrian President Ahmed al-Sharaa, who previously went by Abu Mohammad al-Jolani and is the founder of Syrian al-Qaeda, has met with Israel’s National Security Adviser Tzachi Hanegbi in Abu Dhabi in the United Arab Emirates.
While the reports remain unconfirmed by Damascus, The Jerusalem Post says that this was not “the first such meeting” to take place, citing a Syrian source. But Israel quickly denied the reports: “Israel issued a statement denying the claim, noting that Hanegbi is in Washington as part of Prime Minister Benjamin Netanyahu’s delegation visiting the US.”
The sources are calling the alleged meeting “a significant step in the Syrian‑Israeli negotiations” as part of potentially moving closer to achieving normalization base on the Abraham Accords.
This could also be part of publicly known efforts to advance “quiet” talk with Israel in order to reach a security status quo. At the moment Israel’s military still occupies a large portion of southern Syria, going well beyond the Golan Heights.
Israel’s YNet writes that “The expected agreement could include security guarantees, a pledge to counter terrorist activity, measures to curb Iranian influence, and a restriction of terror operatives near the border.”
“According to foreign reports, Israel has already used Syrian airspace to strike Iranian targets—suggesting informal coordination between the two nations, even if not official,” the outlet adds.
Damascus has continued to claim busting up ‘Iranian terror’ cells in various parts of the country. It is not expected to prioritize counter-ISIS operations given that many of the Sharaa/HTS government’s own members are ISIS or former ISIS.
The prior Assad government had lone been Israel’s most formidable regional enemy, given it possessed Russian anti-aircraft systems and hosted Iranian forces. Israel, for its part, was part of the West’s covert war to oust Assad.
The timing of these reported Sharaa meetings with top Israeli officials is interesting given that it was only on Monday that the US formally lifted the longtime terror designation against his group, Hayat Tahrir al-Sham (HTS).
Meanwhile, an interesting new revelation on Monday…
As we highlighted, the fact that Sharaa was a formally designated terrorist didn’t stop President Trump from meeting with him during his Saudi visit months ago. Trump even praised him as a “young, attractive guy” who has a “real shot at doing a good job”
Sadly, the message from the White House seems to be that Syria should prioritize ending the long-running state of conflict with Israel, but there’s been barely a peep about the massacres being conducted against Syria’s ancient Christian, Alawite, and Druze populations.
END
HOUTHIS/ISRAEL.RED SEA
They are hiding in caves so it think it is time for bunker busters to knock them out
(zerohedge)
Red Sea Chokepoint Crisis: Houthis Release Dramatic Footage Of Cargo Ship Attack
Wednesday, Jul 09, 2025 – 09:35 AM
Iranian-backed Houthi attacks on commercial ships in the strategic Bab el-Mandeb/Southern Red Sea corridor have intensified following U.S. airstrikes on three Iranian nuclear facilities, ordered by President Trump. This marks a significant escalation of asymmetric Iranian-proxy operations aimed at choking the critical maritime chokepoint.
Last weekend, rebel forces attacked the Liberian-flagged, Greek-owned cargo ship Eternity C, resulting in the deaths of at least three mariners and injuries to several others. The ship lost propulsion and is now adrift with the crew still on board.
Between Sunday and Monday, the Houthis launched another assault on the bulk carrier Magic Seas using small boats and bomb-laden drones.
Rebels later released video footage showing their fighters boarding the vessel, strategically placing explosives throughout the ship. The detonation ultimately led to the vessel’s sinking, marking one of the most brazen and well-documented Houthi maritime attacks to date.
The maritime attacks in the Southern Red Sea resulted in the “tragic loss of three mariners, with many others injured and the complete loss of the MV Magic Seas and its cargo,” U.S. State Department spokesperson Tammy Bruce said in a statement, adding the Trump administration “will continue to take necessary action to protect freedom of navigation and commercial shipping.”
The release of high-impact footage on social media—such as shipboard assaults and vessel sinkings—indicates the Houthis are showcasing their operational capabilities across the Red Sea chokepoint. This video serves a dual purpose: reinforcing their psychological warfare campaign and delivering a clear propaganda message aimed at Western governments and global shipping interests.
Regional Maritime Chokepoints
Further Houthi maritime activity is likely this week, particularly targeting Western-aligned vessels. We anticipate potential vessel diversions while also tracking ongoing risks in the Strait of Hormuz.
END
4 Dead, 15 Missing After Eternity C Cargo Ship Sinks Amid Red Sea Crisis
Wednesday, Jul 09, 2025 – 12:52 PM
Update (1252ET):
One of the two commercial ships attacked by Iranian-backed Houthi rebels—the Liberian-flagged, Greek-owned cargo ship Eternity C—has sunk, resulting in the deaths of at least four crew members, with 15 still missing. The other ship, Magic Seas, was also attacked and sank earlier this week (crew rescued).
Here’s more from Reuters:
Rescuers pulled six crew members alive from the Red Sea on Wednesday and 15 were still missing from the second of two ships sunk in recent days in attacks claimed by Yemen’s Iran-aligned Houthi militia after months of calm.
Four of the 25 people aboard the Eternity C cargo ship were killed before the rest of the crew abandoned the vessel, which sank on Wednesday morning after being attacked on Monday and Tuesday, sources at security companies involved in a rescue operation said.
Since late 2023, more than 100 ships in the strategic Bab el-Mandeb/Southern Red Sea corridor have been targeted by Houthi rebels using drones and missiles.
These attacks are expected to continue until a ceasefire is reached in the Israel-Hamas war. Israeli Prime Minister Benjamin Netanyahu has been in Washington, D.C., meeting with President Trump to discuss a potential ceasefire agreement between Israel and Hamas in Gaza.
The deal would allow Netanyahu to secure the release of 50 Israeli hostages. The attacks on Eternity C and Magic Seas mark the first Houthi strikes in the critical maritime chokepoint since President Trump announced a truce with the rebels in May.
END
HOUTHIS CONTINUED
this is what the world is dealing with :
Surviving Crew Members Kidnapped By Houthis After Greek-Owned Cargo Ship Attacked
Wednesday, Jul 09, 2025 – 03:05 PM
Update(1505ET): Things have gone from bad to worse regarding the situation of the Greek-owned cargo ship Eternity C, which was sunk in a deadly Houthi raid. The missing mariners aboard the ship are now confirmed kidnapped, after at least four were killed.
The US embassy accused Yemen’s Iran-backed militants Wednesday of kidnapping crew members from the Eternity C in the Red Sea earlier this week – an attack which was carefully documented and filmed for the world to see by the attackers (see below).
“After killing their shipmates, sinking their ship and hampering rescue efforts, the Huthi terrorists have kidnapped many surviving crew members of the Eternity C. We call for their immediate and unconditional safe release,” the embassy said in a statement on X.
Below is more from the Houthi statement, claiming the captive and surviving crew members are ‘safe’… will President Trump get involved? It appears at least 15 have been taken.
RUSSIA VS UKRAINE
Strong message!!
Putin Sends Message To US With Record 700+ Drones, Missiles On Ukraine Overnight
Wednesday, Jul 09, 2025 – 11:05 AM
President Putin continues playing hardball and sending tough signals in the face of Trump administration criticisms, and after on Monday the White House confirmed it is reversing course on its recent pause on weapons to Ukraine, as it will instead send more.
Russia overnight launched an unprecedented 728 Shahed drones as well as decoy drones, accompanied also by 13 cruise and ballistic missiles, Ukraine’s air force announced Wednesday.
Ukrainian President Volodymyr Zelensky described that the northwestern city of Lutsk, near the borders with Poland and Belarus, suffered the most intense attacks and damage, and ten other regions were also targeted.
Lutsk hosts military airfields frequently used by Ukrainian cargo planes and fighter jets, and has long been a region crucial to military logistics and a hub for foreign military.
Zelensky said that the Kremlin was “making a point” with this fresh attack, especially as it comes so closely on the heels of the Pentagon U-turn concerning weapons shipments to Kiev.
“This is a telling attack — and it comes precisely at a time when so many efforts have been made to achieve peace, to establish a ceasefire, and yet only Russia continues to rebuff them all,” he wrote on X.
“Our partners know how to apply pressure in a way that will force Russia to think about ending the war, not launching new strikes,” Zelensky added, and called for more Western anti-Moscow sanctions, particularly targeting its energy sector.
Russia’s Defense Ministry meanwhile later confirmed it launched “long-range” and “precision” strikes on Ukraine overnight Tuesday, seeking to take out military airfield infrastructure. The statement claimed that “all designated targets were destroyed.”
The bar on these massive drone swarm attacks keeps getting set higher, as earlier this month Russia sent a record over 500 UAVs. Never before has a single night’s assault reached this level of over 700 drones and missiles.
The Ukrainian president’s chief of staff, Andriy Yermak, pointed out on social media, “It is quite telling that Russia carried out this attack just as the United States publicly announced that it would supply us with weapons.”
The tempo of attacks is definitely and very noticeably increasing:
Geopolitical and war monitor blog Moon of Alabama observes of this trend:
That’s nearly 100 long range drones per day which target Kiev and other bigger cities. These are by the way no longer Iran made Shahed drones but a third generation development based on the original design. These drones are now bigger. They have new engines and fly faster and higher. Their load of explosives is now about 90 kilogram, double that of the original version. For each of these drones launched against Ukraine there is an additional decoy drone flying along. The decoys look similar but are not armed and much cheaper. They are to attract the air defenses while the real drones pass through.
Recent targets have been Ukrainian refineries, industrial objects and, during the last days, recruiting offices of the Ukrainian military.
These offices are in public buildings. Their addresses are naturally known as the whole mobilization process for additional soldiers is being run by them. The recruiters are hated by the population. Ukrainians are published the addresses of mobilization offices with requests to Russia to hit them.
If true that would suggest unprecedented domestic anger directed at the Zelensky government and its notoriously harsh recruitment tactics, which have for years seen young men get nabbed on the streets and forced into vans by recruitment officers.
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUES
MARK CRISPIN MILLER
Some 40 athletes—all around the world, in nearly every sport—have had appendicitis (since they were “vaccinated”)
So much for the advantage of extraordinary fitness
| Mark Crispin MillerJul 9 |
First, some background on the explosion in appendicitis cases since the rollout of the “vaccines” in 2021:
Rising appendix cancer rates in young adults spark concern
June 16, 2025
Compared with people born from 1941 through 1949, incidence rates of appendix cancer have more than tripled among people born between 1976 and 1984 and more than quadrupled among people born between 1981 and 1989, according to research published this week in the Annals of Internal Medicine. These increases in incidence were found to have occurred from 1975 through 2019.
Appendicitis as a possible safety signal for the COVID-19 vaccines [sic]
December 2021
Appendicitis has been suggested as an adverse event of special interest post-vaccination [sic] against COVID-19 after a numerical increase in the vaccine [sic] arm of a clinical trial.
An Israeli team have done a good study here on vaccine [sic] side effects. They found 40% increased risk of Appendicitis 42 days post vaccination [sic]
August 25, 2021
ATHLETES
AUTO RACING
Albon ruled out of Italian Grand Prix with appendicitis, as replacement De Vries prepares to make F1 race debut
September 10, 2022
Ferrari’s Sainz expected to race in Australia after return from appendicitis surgery
March 19, 2024
Researcher's Note – Formula One declares mandatory COVID-19 vaccination [sic] for paddock staff.
BASEBALL
Cubs’ Trevor Williams Out Indefinitely After Emergency Appendectomy
May 31, 2021
Francisco Lindor: Would’ve played through appendectomy if Mets made NLDS
February 17, 2023
Eloy eager to get back to White Sox after appendicitis
May 17, 2023
Trent Thornton triumphs over appendicitis and eyes return to Seattle Mariners mound against Astros
May 22, 2025
Jordan Walker Injury: Could resume assignment Saturday
June 27, 2025
Researcher's Note – Among the benefits for [MLB] teams that achieve 85-percent vaccination [sic]: The relaxed protocols for vaccinated [sic] Tier 1 individuals will include being allowed to work out in ballpark facilities without a facemask, be tested less frequently, gather indoors and on team airplanes and buses with other vaccinated [sic] individuals, and carpool together or use ride-sharing services. They will also be exempt from quarantining if they are in contact with a person who tests positive for the virus, as long as the vaccinated [sic] person does not show symptoms. Teams that reach the 85 percent vaccination [sic] threshold will no longer have to wear masks in the dugout or the bullpen, or wear a tracking device. Players will be allowed to play video games and other group activities together in the clubhouse again, and they will be allowed to use saunas and steam rooms.
MLB Players Without COVID-19 Vaccine [sic] Can't Play vs. Blue Jays in Toronto.
BOXING
Aussie battler who got a standing ovation from Dana White despite getting knocked out in tryout fight wins a UFC contract after getting into the octagon with a burst appendix
August 9, 2022
Researcher's Note – Dana White, who says he's fully vaccinated [sic], is currently in isolation after a positive COVID-19 test coming out of Thanksgiving weekend.
Eimantas Stanionis Forced To Go Emergency Appendectomy Surgery, Vergil Ortiz Fight Postponed
January 7, 2023
CYCLING
Van Aert back in the saddle after appendectomy
May 17, 2021
Researcher's Note – In the 2022 Tour de France, Van Aert won three stages: COVID-19 vaccination [sic] obligatory for professional athletes to compete in France.
Jackson Goldstone out of hospital after ruptured appendix
April 10, 2023
Researcher's Note – Jackson Goldstone has publicly stated that he is double vaccinated [sic] against COVID-19.
FOOTBALL
Joe Burrow reveals appendix ruptured: “It wasn’t normal appendicitis”
August 17, 2022
Researcher's Note – N.F.L. Sets Stiff Penalties for the Unvaccinated [sic], Jolting Teams.
Minkah Fitzpatrick wanted to play day after appendectomy
November 19, 2022
Researcher's Note – Steelers inching closer to 100 percent players vaccinated [sic].
Titans rookie Peter Skoronski details what he’s doing to work back after ruptured appendix
September 27, 2023
Researcher's Note – Skoronski committed to Northwestern University to play college football: Northwestern requires proof of vaccination [sic].
Mike McCarthy [Dallas Cowboys’ head coach] hospitalized with appendicitis
December 6, 2023
Researcher's Note – NFL will require coaches, staff to get a Covid booster by Dec. 27.
Chargers rookie linebacker Junior Colson placed on NFI list after undergoing appendectomy
July 24, 2024
Researcher's Note – Colson enrolled at the University of Michigan in 2021: University Of Michigan Will Require All Students, Faculty, & Staff To Be Vaccinated [sic] By The Fall Term.
Oregon’s Terrance Ferguson expected back ‘relatively quick’ after appendectomy
October 18, 2024
Researcher's Note – University of Oregon to require COVID-19 vaccinations [sic] for students, staff.
What’s Next for Packers RB MarShawn Lloyd After Appendicitis?
November 16, 2024
Researcher's Note – In 2020 Lloyd committed to the University of South Carolina to play college football: U of SC offers game tickets, tuition as vaccine [sic] incentives.
Texans’ tight end Cade Stover to miss game against Miami after emergency appendectomy
December 15, 2024
Researcher's Note – In 2020 Cade Stover committed to play college football at Ohio State: Ohio State University requiring COVID-19 vaccines [sic] for students, faculty, staff.
Zeek Biggers pushes through appendectomy to impress NFL scouts, keep draft dream alive
March 14, 2025
Researcher's Note – In 2021, Zeek Biggers committed to play college football for the Georgia Tech Yellow Jackets: Get Tested. Get Vaccinated [sic]. Get Rewarded.
GOLF
Rookie Julia Lopez Ramirez’s season started with an appendectomy. Now, she’s in the hunt at the U.S. Women’s Open
May 31, 2025
end
In memory of those who “died suddenly” in the United States and worldwide, June 30-July 7, 2025
Michael Madsen dead, Quentin Tarantino’s film actor found lifeless at home: he was 67
July 3, 2025
The emergency services, alerted by a 911 call, intervened promptly but could do nothing but confirm his death. The cause of death has not been released, but Los Angeles police have said foul play is not suspected. The case remains a mystery. The actor’s managers said: “Michael Madsen has been working hard in independent film for the past two years, appearing on projects such as ‘Resurrection Road,’ ‘Concessions,’ and ‘Cookbook for Southern Housewives.’ He was excited about this new chapter in his career.” Madsen was also preparing to publish an autobiographical book titled ‘Tears For My Father: Outlaw Thoughts and Poems.’
Researcher’s Note – Hollywood’s On-Set Vaccine [sic] Mandates to End on May 12, 2023: Link
Madsen’s son “died suddenly” in 2022:
Michael Madsen Lost Son Tragically Before His Sudden Death
July 3, 2025
Michael Madsen, known for his tough-guy roles in films like Reservoir Dogs and Kill Bill, died July 3 at the age of 67. The actor’s cause of death was cardiac arrest, just two years after the devastating loss of his eldest son, Hudson, according to The Hollywood Reporter. In January 2022, Hudson Madsen, a U.S. Army sergeant, died by suicide on the island of Oahu, Hawaii. He was 26. Born in 1995 and raised in Los Angeles, Hudson followed a path of service, enlisting in the Army and eventually being stationed at Schofield Barracks in Hawaii. He completed a deployment to Afghanistan and built a life with his wife, Carlie, whom he married in 2017.
Researcher’s Note - Pentagon mandates US military service members receive Covid vaccine [sic] immediately: Link
Julian McMahon Dies: ‘Nip/Tuck’, ‘Fantastic Four’, ‘FBI: Most Wanted’ Star Was 56
July 4, 2025
Actor Julian McMahon, known for his starring roles in Nip/Tuck, Charmed, FBI: Most Wanted and the 2000s Fantastic Four movies, died July 2 in Clearwater, Florida, after a private battle with cancer. He was 56. McMahon moved to Hollywood [in 1993] and started off his American career the way he did his Australian one — with a role on a daytime soap. He played team leader Jess LaCroix from the FBI’s Most Wanted Unit for three seasons before his surprise March 2022 exit. “What shocking news,” FBI franchise boss Dick Wolf said in a statement to Deadline.
Researcher’s Note – McMahon was working in Hollywood between 2021-2023: Hollywood’s On-Set Vaccine [sic] Mandates to End on May 12, 2023: Link
Brenda Wilson, singer and daughter of Jackie Wilson, dies
July 6, 2025
She may not have been known to music fans for her own songs, but Brenda Wilson was musical royalty, particularly in Detroit. As the daughter of the legendary Jackie Wilson, Brenda grew up surrounded by musical greatness, but carved out her own quiet path as a singer and as an advocate for soul music and her family legacy. Sadly, Brenda’s daughter Angelica Johnson Love posted the bad news of her mother’s passing today on social media:
“My mom’s battle is over! Love you so much mom! Always in my heart! Forever 75. Glad she had a chance to come visit me in my new home! And we were able to celebrate her great life together! Lord thank you for giving me a great mother Brenda Wilson.”
No cause of death reported.
Ed Fiori, a four-time PGA Tour winner who once chased down Tiger Woods, is dead at age 72
July 6, 2025
Ed Fiori’s final of four PGA Tour wins is the one he was best known for – staring down a 20-year-old Tiger Woods at age 43 to capture the 1996 Quad Cities Classic (now known as the John Deere Classic). Fiori died on July 6 at age 72 of cancer, the PGA Tour announced.
Researcher’s Note - PGA Tour encouraged COVID-19 “vaccination” for players, caddies: In the memo obtained by ESPN, the tour said while it will not mandate “vaccination,” it will require those who do not get the shots to still be tested each week for COVID-19 within 72 hours of arrival on-site and at their own expense. Those who test positive for COVID-19 will be required to withdraw and be subject to contact tracing and quarantine procedures: Link
Lyndon ‘LB’ Byers, Former Boston Bruins Player and Radio Host, Dies at 61
July 5, 2025
Boston, MA – Lyndon “LB” Byers, the former Boston Bruins player who later became a radio personality, died on July 4. He was 61. On July 5, the Bruins announced that Byers — originally from Nipawin, Saskatchewan, Canada — had died on the previous day. The team did not share a cause of death. “Following his playing career, Lyndon spent some 25 years as a local radio personality, entertaining scores of New Englanders every day with his quick wit and boisterous voice.” the team added.
Former 2005 World Series Champion Bobby Jenks is Dead at Age 44 Following Adenocarcinoma Battle
July 5, 2025
Former Chicago White Sox pitcher and 2005 World Series champion Bobby Jenks died from cancer at age 44 on July 4. Major League Baseball confirmed that Jenks passed away in Sintra, Portugal, where he was undergoing treatment for an advanced form of adenocarcinoma, a type of stomach cancer. Jenks announced his stomach cancer diagnosis in February during an interview with MLB.com from his hospital bed in Portugal. He confirmed that doctors discovered a tumor in his chest after a CT scan, with cancer ultimately spreading to his stomach lining, lower back, hips and bones.
Antione Long, Son Of WWE Hall Of Famer Teddy Long, Has Passed Away
July 7, 2025
We are sad to learn about the loss of Antione Long, the son of celebrated WWE Hall of Famer and former SmackDown General Manager, Teddy Long. The news of his passing broke over the weekend after being shared by friends and family members on social media. Antione was active on his own social media accounts as recently as four days ago, when he shared a photo of himself at a Planet Fitness location. At this time, no further details regarding the cause of death or Antione’s age have been made public.
RIU Reno & CSOP Favorite Eric “Goldy” Goldstein Passes Away Unexpectedly
July 2, 2025
The poker world received sad news this week when word spread that Eric “Goldy” Goldstein passed away unexpectedly from a presumed heart attack at the age of 52. Goldy, as he was affectionately known to his friends, made headlines during the 2022 World Series of Poker (WSOP) when he won a poker tournament in his sleep to win his way into that year’s WSOP Main Event.
Former Green Bay Packers Coach Died Of Leukemia
July 4, 2025
A former Green Bay Packers coach who had many legendary stops around the college football and NFL world died at 79 following a battle with leukemia, per multiple reports. Per John Hartsock of the Altoona Mirror, Wayne “Buddy” Geis died on Wednesday.
DR PAUL ALEXANDER
i stand with POTUS Trump & support him for his success is our success; I demand (as he reads my stacks) that he instructs RFK Jr. (Bobby Jr.) (HHS) & Makary (FDA) & Bhattacharya (NIH) & CDC etc. to
immediately withdraw the Malone Bourla Bancel Sahin Wiles Weissman Kariko Pfizer Moderna BioNTech et al. mRNA technology platform gene delivery system ‘so called vaccine’ from USA market
| Dr. Paul AlexanderJul 9 |
___
You must not wait for another catastrophic crisis (at times manufactured but we are prevented from making our own basic personal decisions or accessing needed drugs and response tools) to catch you off-guard. We must take charge and be prepared today so that we can enjoy peace of mind tomorrow.
Alexander News Network (ANN): Trump’s War 2.0 for America is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Enter the Wellness Company as a solution and a willing participant in the health care conversation. The Wellness Company, launched in 2022, offers health care, prescriptions, and supplements, all backed by research
The Wellness Company isn’t chasing profits — it’s trying to help people recover. While the government continues pushing vaccines, The Wellness Company is focusing on real solutions.
From telemedicine, prescriptions, memberships, and supplements, TWC is leading America with alternative choices to the traditional health care model.
Please consider support of a good PATRIOT company (in this PATRIOT economy) Drs. McCullough, Risch, Thorp, myself support (they are our sponsors), The Wellness Company; see the emergency preparation kit (key component being antibiotics you were denied by doctors, pharmacists, governments during the fraud COVID), first aid kit, travel emergency kit, contagion control kit etc. Please consider the SPIKE SUPPORT (spike protein DETOX dissolving spike from mRNA vaccine, this is critical to remove spike form the mRNA vaccine/and DNA viral vector) formula with NATTOKINASE as well as the triple formula (SPIKE SUPPORT, BROMELAIN, CIRCUMIN)
NEWSWIZE
 LATEST NEWSPediatrician Fired After Sickening Post About Flood Victims Goes ViralA pediatrician in Houston has been terminated after sparking outrage with a Facebook post suggesting that victims of the catastrophic Texas floods “got what they voted for” because of their political alignment with President Donald Trump.Dr. Christina B. Propst, who had been affiliated with Blue Fish Pediatrics, faced immediate criticism after the post, shared under the alias “Chris Tina,” went …READ MOREEpstein Case Takes Bombshell Turn as DOJ Releases FootageFederal authorities released long-anticipated surveillance footage from the night Jeffrey Epstein died in his Manhattan jail cell, intending to quell years of public speculation. However, instead of providing clarity, the video has raised new questions after observers identified a missing minute in the recording—casting fresh doubt on the official account of Epstein’s death.The Department of Justice (DOJ), working alongside the FBI, …READ MOREBorder Patrol Agents Ambushed Amid Intensified Immigration EffortsA gunman clad in tactical gear launched a brazen attack on a U.S. Border Patrol annex in McAllen, Texas, early Monday morning. The assailant was shot and killed after opening fire on federal agents and local police, leaving an officer wounded, in what authorities describe as a deliberate act of violence.The injured officer, a member of the McAllen Police Department, was …READ MORERosie O’Donnell Sparks Outrage With Wild, Mind-Boggling Trump AccusationRosie O’Donnell is facing intense criticism after accusing President Donald Trump of indirectly causing the deadly flash floods in central Texas that left dozens dead and many still missing. In a TikTok video posted Sunday, the comedian and actress suggested that Trump’s policies had weakened the government’s ability to issue critical weather warnings.“Shame on every GOP sycophant who’s listening and following …READ MOREBlue State GOP Lawmakers Break Ranks With Trump in Stunning MoveA coalition of six Republican lawmakers from California is pressing President Donald Trump to shift the nation’s immigration priorities, urging a stronger focus on deporting criminal illegal immigrants while also proposing a pathway to legal status for long-standing illegal residents.The GOP legislators say current federal enforcement strategies are generating unnecessary fear in workplaces and harming employees with legal immigration status.In …READ MORE |
EVOL NEWS
NEWS ADDICTS
———- Forwarded message ———
From: Newswize <mail@newswize.com>
Date: Wed, Jul 9, 2025 at 07:45
Subject: 
️ FBI launches criminal investigations of John Brennan, James Comey
To: Milan Sabioncello <sabioncello@gmail.com>
| LATEST NEWSFBI launches criminal investigations of John Brennan, James ComeyFormer CIA Director John Brennan and disgraced FBI Director James Comey are now the targets of criminal investigations stemming from their role in the fraudulent Trump–Russia collusion hoax, according to DOJ. Sources confirm CIA Director John Ratcliffe handed over damning evidence against Brennan to current FBI Director Kash Patel. That referral kicked off a criminal probe now underway. DOJ insiders …READ MORELaken Riley’s Convicted Killer Receives Shocking Legal VictoryThe illegal immigrant found guilty in the high-profile murder of Georgia nursing student Laken Riley is now undergoing a court-ordered psychological evaluation—a legal development that could open the door to further court action, despite the overwhelming evidence presented at trial.José Antonio Ibarra, a Venezuelan national who entered the U.S. unlawfully in 2022 and was later released by federal authorities, was …READ MORETrump Blasts Reporter Over ‘Inappropriate’ Question in Heated RebukePresident Donald Trump snapped during a Cabinet meeting Tuesday after a reporter asked Attorney General Pam Bondi about the Department of Justice’s (DOJ) findings in the Jeffrey Epstein case. The president interrupted the question, expressing clear frustration and urging the press to focus on more urgent matters facing the country.The interruption occurred as Bondi was being asked to address a newly …READ MORESupreme Court rules 8–1—allowing Trump to slash federal workforce in any department.In a landmark decision the U.S. Supreme Court in a 8-1 ruling cleared the way for President Donald Trump to slash federal workforce in any department. In an 8-1 decision, with only Justice Ketanji Brown Jackson dissenting, the high court struck down Judge Illston’s May 22 Temporary Restraining Order (TRO), which had halted sweeping layoffs and organizational overhauls across 20 …READ MOREFormer FBI Agent Issues Chilling Warning About Quiet Threat Spreading Across USA U.S. counterterrorism expert is raising alarms about a growing security risk: Iranian sleeper cells quietly embedded in rural communities across the country. These covert operatives, believed to have been in place for years or decades, could pose a significant threat as tensions with Iran escalate.Jonathan Gilliam, a former FBI special agent with extensive experience on joint counterterrorism task forces, warned …READ MORE |
———- Forwarded message ———
| LATEST REPORTS FOR NEWS JUNKIESTrade Crackdown: Here Are the 14 Countries That Received Trump’s Tariff LettersPresident Donald J. Trump is back on offense in global trade, announcing a sweeping new wave of tariffs ranging from 25% to 40% on 14 countries — and warning more letters are coming. The goal: bring back manufacturing, reduce trade deficits, and punish countries exploiting U.S. markets.On Monday, Trump signed an executive order delaying the tariffs until August 1, giving …READ THE FULL REPORTTrade Crackdown: 14 Countries Receive Tariff LettersPresident Donald J. Trump is back on offense in global trade, announcing a sweeping new wave of tariffs ranging from 25% to 40% on 14 countries — and warning more letters are coming. The goal: bring back manufacturing, reduce trade deficits, and punish countries exploiting U.S. markets.On Monday, Trump signed an executive order delaying the tariffs until August 1, giving …READ THE FULL REPORTJudge Blocks Trump’s Big Beautiful Bill Provision Barring Funding for Planned ParenthoodA federal judge appointed by Barack Obama has temporarily blocked a key provision of President Trump’s Big Beautiful Bill, which cut off Medicaid funding for Planned Parenthood.On Monday, U.S. District Judge Indira Talwani issued a Temporary Restraining Order (TRO), stopping the funding ban for 14 days and scheduling a preliminary injunction hearing for July 21.Planned Parenthood Sues Trump Admin Over …READ THE FULL REPORTPediatrician Fired After Vile Post Claiming Texas Flood Victims ‘Got What They Voted For’A Texas pediatrician has been fired after posting a vile message on Facebook that mocked the dozens of victims — including children — killed in the Texas floods, implying they deserved it for supporting President Trump.The now-deleted post, made by Dr. Christina B. Propst under the alias “Chris Tina”, said:“May all visitors, children, non-MAGA voters and pets be safe and …READ THE FULL REPORTCIA Admits They Lied to the Public About Lee Harvey OswaldFor over 60 years, the Central Intelligence Agency insisted it had no connection to Lee Harvey Oswald — the man who assassinated President John F. Kennedy in 1963.But now, newly released government documents confirm what many have long suspected: the CIA lied.CIA Agent Used Alias to Oversee Group Linked to OswaldAccording to Axios, a newly uncovered memo dated January 17, …READ THE FULL REPORT |
EVOL NEWS
| LATEST REPORTS FOR NEWS JUNKIESSupreme Court Greenlights Trump’s Federal Government PurgeThe U.S. Supreme Court delivered a major victory for President Donald Trump on Tuesday, overruling a Clinton-appointed judge and greenlighting mass layoffs and deep restructuring across the federal government.In an 8–1 decision, the Court struck down District Judge Susan Illston’s May 22 restraining order, which had blocked Trump’s sweeping Executive Order to reduce the size and scope of the administrative state. …READ THE FULL REPORTResurfaced Mamdani Photo Sparks Social Media OutrageZohran Mamdani, the far-left socialist who recently won the Democratic nomination for New York City mayor, is under fire after a photo resurfaced showing him flipping off a statue of Christopher Columbus.In the 2020 post, Mamdani — a self-proclaimed “democratic socialist” — proudly gave the middle finger to the statue in Astoria, Queens, writing:“Take it down.”The image, which shows a …READ THE FULL REPORTVideo: Philadelphia Mass Shooting Leaves 3 Dead, 10 InjuredA brutal shootout rocked the Grays Ferry neighborhood of South Philadelphia early Monday morning, leaving three dead and ten injured, including multiple minors. The violence erupted just after 1:00 a.m. on South Etting Street, where dozens had gathered for a late-night street party.This tragedy is the latest in a weekend of carnage across Philadelphia — and a stark reminder that …READ THE FULL REPORTTucker Carlson Offers 2 Possible Answers Behind the Epstein List ControversyThe fallout continues after the Trump administration’s sudden reversal on disclosing the full Jeffrey Epstein files, with Tucker Carlson raising serious questions about who is being protected — and why.In a lengthy on-air discussion with political analyst Saagar Enjeti, the former Fox News host laid out two possible explanations for why Attorney General Pam Bondi and FBI Director Kash Patel …READ THE FULL REPORTWatch: Karoline Leavitt Struggles to Answer Doocy’s Question About Epstein Client ListWhite House Press Secretary Karoline Leavitt was put on the spot Monday after Fox News correspondent Peter Doocy asked the question millions of Americans are still wondering:“What happened to the Epstein client list that the attorney general said she had on her desk?”Leavitt’s response? A carefully worded walkback that dodged the substance of the question, failed to address the public’s …READ THE FULL REPORT |
MICHAEL EVERY/OR PICTON OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS
Donald Copperfield
Wednesday, Jul 09, 2025 – 10:20 AM
By Michael Every of Rabobank
“As I think I told you once before,” said I, “it is you who have been, in your greed and cunning, against all the world. It may be profitable to you to reflect, in future, that there never were greed and cunning in the world yet, that did not do too much, and overreach themselves. It is as certain as death.”
– David Copperfield, Charles Dickens
Following the initial 14 trade letters that US President Trump sent out yesterday significantly raising tariffs for the recipients, there was a pause. However, Trump underlined that 1 August is indeed the deadline for new rates to kick in –which should allow goods to arrive ahead of time and ensure no price hikes by Xmas, says Axios– and at least seven trade announcements would be made this morning US time.
Additionally, he shocked markets by threatening a 50% tariff on copper, seeing its New York price surge to new highs as well as a 200% tariff on pharmaceuticals after a year-long transition period, forcing firms to shift production rapidly.
On the former, markets note that due to a serious mismatch between production of copper feedstock and smelting capacity, the US relies on imports for around 50% of its refined copper, which it now clearly sees as a national security risk. As such, while many past neo-mercantilists only tariffed value-added goods rather than raw materials, the US wants to shift copper production and smelting back home as it does steel and aluminium. On the latter, to say that there is a similar case for basic drugs to also be made in the US, just in case, is just common sense for anyone except markets.
Recall that these headlines are being seen as a Financial Times op-ed says China’s de facto control of all key global industrial production via its chokehold on the processing of rare earths is “a new kind of trade war.” Except it’s an old one, but nobody bothered to read economic history over quarterly earnings reports and GDP and CPI prints. As another China source puts it, the West had 15 years to plan for this kind of realpolitik trade shock —Beijing can literally decide whose factories can work and whose can’t— produced endless action plans and position papers, and then, “because markets”, did absolutely nothing. Meanwhile, the White House is also seeking to ban China from buying US farms, again over national security. Beijing rejects this allegation… but how many Chinese farms can US individuals own?
The US is now doing something on copper, steel, and aluminium which is then mirrored by all those saying it’s the wrong thing to do. It’s also working on rare earths, but that will take longer and require more short-term compromises, and counter-threats that all kinds of critics who did nothing during China’s build-out of its rare-earths monopoly now decry as unacceptable.
As an example, Financial Times Editor Martin Wolf follows yesterday’s promise to look at what should replace a failed Thatcherite revolution and a failed post-GFC political economy by saying “Not Trumpism.” Fair enough, of course. But that then leaves what alternative? Communism? Socialism? Libertarianism? More neoliberalism? Georgism? Which ideology, and what specific policy, would have prevented China gaining a chokehold on rare earths? Which could now unwind that active threat? How long can establishment ideology be “No, not that!” rather than “Yes, do this”?
One needs new thinking. On which, a newspaper ideologically incapable of producing it, The Economist, shares research showing the better educated in the US (of course meaning the wealthier) have a less zero-sum view of life… until they get a PhD, when they see things the same way as the working class. This didn’t use to be the case Stateside, but if you have decades of globalisation and elite over-production, that’s what you get – zero-sum thinking, which is how geopolitics and geoeconomics has nearly always worked under the surface.
Indeed, Trump just stated Russian President Putin’s words are ultimately “meaningless,” and “We get a lot of bulls**t thrown at us.” As a result, the White House is weighing giving Ukraine another Patriot system, claims the Wall Street Journal, which given how highly sought these are would show serious commitment. Moreover, Trump now backs tough his Russia sanctions bill since it’s been tweaked to add presidential waiver authority, says Senator Graham – something which would have a vast market impact if ever used.
Speaking of which, and staying zero-sum, in domestic politics, Trump said, “I would have done it differently, a little bit, maybe,” re DOGE. That’s as D.C. chatter is that the spending cuts allowed under the OBBB may be can-kicked while the spending isn’t. Ironically, that’s also as the Supreme Court allowed Trump to proceed with mass government lay-offs, and the Congressional GOP is talking about a second One Big Beautiful Bill later this year.
Elsewhere, ‘UK and France must save Europe, says Macron’ (Politico) – but who is going to save the UK and France? In the former, ‘Jury trials must be limited to save criminal justice system from collapse, inquiry finds’ (Guardian), where we see “radical proposals to clear the huge backlog in crown courts.” So much winning. Perhaps not in court though.
In markets, which are themselves inexorably going to become more zero sum, Trump called Fed Chair Powell a ‘Baby’ and said he should resign immediately if he misled Congress, to which everyone now just shrugs. Until the Congressional grilling begins and we see who the next Chair is going to be – the WSJ is today flagging it as a battle between two Kevins, Warsh and Hassett;
The RBA surprised everyone by not cutting rates yesterday: ‘A confused market struggles to understand the RBA’s new world’ as the local AFR puts it. The RBA’s Deputy Governor spoke today to try to clarify the situation and could only add that it will be “refreshing its research strategy, with a new set of priorities to identify the questions that need to be answered to support future policymaking.” This will include “an emphasis on small open-economy macroeconomics, with a particular role for the commodities and energy sectors, and the risks and opportunities from structural changes in the global economy should be a vital priority for research.” It’s frankly terrifying that they aren’t already: what *are* they looking at?;
One of the BOJ’s newest board members signalled a possible upward revision to its inflation view this month, keeping open the possibility of another rate hike this year; and the RBNZ is expected to hold at 3.25% today.
In short, central banks are all over the place just like the rest of us. And why shouldn’t they be? In a zero-sum world, some are doing better than others, so need different monetary policy: for example, China just saw CPI come at 0.1% y-o-y vs -0.1% expected but PPI –which matters more– fall to -3.6% y-o-y vs. -3.2% consensus. Moreover, monetary policy isn’t just about CPI and unemployment anymore: whisper it, but it can even be about things like rare earths.
“The key is for the audience never to know, so I have a plan B for every illusion.”
– David Copperfield
7. OIL /ENERGY ISSUES/WORLD WIDE
WTI Slides After Biggest Crude Build Since January
Wednesday, Jul 09, 2025 – 10:37 AM
Oil prices are down this morning as signs of a large gain in US crude stockpiles undermined comments by the United Arab Emirates and Saudi Arabia about tight market conditions.
In the US, API reported overnight that crude inventories rose 7.1 million barrels last week. That would be the largest increase since January if confirmed by government data due later on Wednesday.
The expected inventory gain threw some cold water on UAE Energy Minister Suhail Al Mazrouei’s comments that a lack of major inventory buildups shows the market needs the production that OPEC+ is reviving, while Saudi Aramco sees healthy global demand despite trade challenges and tariffs.
API
- Crude +7.1mm
- Cushing +100k
- Gasoline -2.2mm
- Distillates -800k
DOE
- Crude +7.07mm – biggest build since Jan
- Cushing +464k
- Gasoline -2.66mm
- Distillates -825k
The official data confirmed API’s big crude build while products saw inventories drawdown…
Source: Bloomberg
With the 238k addition to SPR, total crude stocks rose by the most since January last week…
Source: Bloomberg
US crude production remains just off record highs, even as the US rig count plunges…
Source: Bloomberg
WTI Crude is well off the highs of the day now…
Source: Bloomberg
“Current market conditions are reasonably tight,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S.
“But I’m still somewhat concerned a surplus will grow into the autumn months as demand slows.”
In another headwind, Israel foreign minister Gideon Sa’ar says a ceasefire in the nearly two-year conflict in Gaza, as well as a hostage deal, is “achievable,” according to the AFP.
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUE
BRICS NATIONS
BRICS’ Condemnation Of The Pahalgam Terrorist Attack Proves That China Politicized The SCO
Wednesday, Jul 09, 2025 – 02:00 AM
Authored by Andrew Korybko via Substack,
The Rio Declaration that followed the latest BRICS Summit in that coastal Brazilian city saw all members, including China, condemn late April’s Pahalgam terrorist attack in paragraph 34:
“We condemn in the strongest terms the terrorist attack in Jammu and Kashmir on 22 April 2025”.
This sharply contrasts with the draft SCO Defense Ministers’ joint statement in late June, which included no condemnation of that attack, hence why India’s Defense Minister refused to sign it.
That scandal was analyzed here at the time.
It was assessed that this was a deliberate provocation by this year’s Chinese chair.
The triple purpose was to do a favor for its Pakistani ally, craft the optics for lending false credence to the perception that India is the “weak link” in the SCO, and thus strengthen the influence of Russia’s pro-BRI policymaking faction. China was able to pull this off due to its chairmanship giving it extra influence over the group’s workings. No joint declaration was agreed to because China refused to amend the text to satisfy India.
China ironically found itself in the same position during the latest BRICS Summit as the one into which it had just placed India, however, except Beijing decided to condemn Pahalgam this time around in order to avoid the optics of a BRICS founder torpedoing this year’s declaration. Brazilian President Lula da Silva just hosted Indian Prime Minister Narendra Modi on a state visit, which was analyzed here to be part of his new balancing act, so he wasn’t going to disrespect him by not including Pahalgam in the declaration.
The aforesaid analysis also argues that it was this state visit and associated state dinner which influenced Xi’s unprecedented decision to decline participating in this year’s summit for the first time ever (implausibly citing scheduling conflicts) since he didn’t want to play second fiddle to Modi there. In light of the declaration condemning Pahalgam, which was predictable in retrospect given Lula’s hosting of Modi on a state visit, Xi couldn’t oppose it without discrediting himself personally and rupturing BRICS.
Another reason behind his unprecedented absence could have therefore been to “save face” after tasking his Prime Minister to agree to the declaration despite its condemnation of Pahalgam for the reasons explained above. Having his Defense Minister refuse to amend the joint statement from the SCO meeting that he just chaired two weeks ago so that it condemns Pahalgam to having his Prime Minister inexplicably agree to condemn Pahalgam in the Rio Declaration is a textbook example of flip-flopping.
Even worse, it tacitly draws attention to how China politicized the SCO during its last meeting as touched upon in the analysis that was cited at the end of the introduction, which goes against the spirit of the group. The favor that it did for Pakistan thus backfired since the optics have now been inadvertently crafted for lending credence to Indian suspicions that China has ulterior motives within the SCO and Russia’s pro-BRI policymaking faction might now be discredited by association.
In hindsight, China should have included a condemnation of Pahalgam in the draft SCO Defense Ministers’ joint statement during the group’s latest meeting that it chaired since it wasn’t realistically going to oppose this predictable inclusion in the then-upcoming BRICS Rio Declaration.
The fact that it didn’t do so suggests that it either clumsily overlooked this or took for granted that it could convince Brazil not to include it.
In any case, China’s reputation just took a hit, and it was entirely avoidable.
END
BRICS//USA
Trump Says BRICS Members Will Get Additional 10% Tariffs Over De-Dollarization Attempt
Wednesday, Jul 09, 2025 – 02:20 PM
Authored by Lily Zhou via The Epoch Times,
President Donald Trump on Tuesday reiterated a previous warning to BRICS nations that he would be imposing an additional 10 percent tariff on them, saying the bloc was created to replace the U.S. dollar as the dominant currency for international trade.
Speaking to journalists during a meeting with Cabinet officials at the White House, Trump said: “If they’re a member of BRICS, they’re going to have to pay 10 percent tariff just for that one thing. And they won’t be a member long.”
The president said that while he doesn’t see the bloc as “a serious threat,” it was set up to “destroy the dollar so that another country can take over and be the standard.”
“And we’re not going to lose the standard,” he said.
The comments came after some in the 11-member group denied comments by the U.S. president that the bloc supports “anti-American” policies.
BRICS, which was set up in 2009, initially included Brazil, Russia, India, and China before absorbing South Africa the next year and further expanding in 2024 to include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates.
The group also involves partner countries Bolivia, Nigeria, Cuba, Kazakhstan, Malaysia, Thailand, Vietnam, and Uganda.
According to Brazilian President Luiz Inacio Lula da Silva, who hosted the bloc’s 17th annual leaders summit this week, BRICS nations now represent more than half the world’s population and 40 percent of its economic output.
BRICS leaders have said they want payment alternatives to reduce dependency on U.S. dollars and the SWIFT system—a cross-border payment messaging mechanism that has been used to enforce U.S. and EU sanctions against Russian and Iranian entities.
In November 2024, Trump said he would hit BRICS members with 100 percent tariffs if they attempted to create an alternative trading currency to the U.S. dollar, a warning he repeated in January.
Writing on social media platform Truth Social on Monday, the U.S. president said, “Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff.”
The BRICS leaders’ Sunday statement condemned military actions on Gaza and Iran by Israel, a U.S. ally, and called for reforms to global institutions, saying that the rise in “unilateral tariff and non-tariff measures” threatened global trade.
Reacting to Trump’s tariff warning on Monday, Lula said, “We don’t want an emperor.”
The Brazilian president said BRICS wants “another way of organizing the world from the economic perspective.”
He reiterated his call for trade relations that “don’t have to pass through the dollar.”
South African trade ministry spokesman Kaamil Alli said the country is “not anti-American” and still wants to negotiate a trade deal with the United States.
He said South Africa has had “constructive and fruitful” trade talks with the United States and is waiting to continue those talks.
India did not immediately provide an official response to Trump.
Malaysia, which was attending as a partner country and was slapped with 24 percent tariffs that were later suspended, said that it maintains independent economic policies and is not focused on ideological alignment.
Kremlin spokesman Dmitry Peskov said BRICS members “share common approaches and a common world view on how to cooperate based on their own interest.”
He said the group’s cooperation “has never been and will never be directed against any third countries.”
Chinese Foreign Ministry spokesperson Mao Ning denied that BRICS is “against any country.” He said the group is against the use of tariffs “as a tool for coercion and pressure.”
China Affairs commentator Wang He told The Epoch Times that it’s “very unfair” to the United States and others that China, the world’s second-largest economy, is still treated as a developing country.
Wang said that the U.S. trade deficit last year, which was around $1 trillion, is unsustainable for any country.
“The United States has its reasons [to impose tariffs], but it would clash with the interests of some other countries, in particular, BRICS members,” he said.
While the BRICS statement did not mention the United States, “the theme was not beneficial, but rather unfriendly to the United States,” Wang said.
Sun Kuo-hsiang, professor of international affairs and business at Nanhua University in Taiwan, said additional tariffs for BRICS members could increase global trade tensions and supply chain costs, and trigger complaints to the World Trade Organization.
However, some BRICS members, such as Brazil, India, and South Africa, have mostly taken a “pragmatic and cautious” approach instead of aligning with Washington, Beijing, or Moscow, he said.
New members, such as Saudi Arabia, Egypt, and the United Arab Emirates “joined BRICS based on considerations of economic interests and multilateralism, and will maintain room to cooperate with the United States instead of taking sides,” he added.
END
MEXICO
A must read from Brandon Smith: Mexico economy is collapsing big time as the uSA deports illegals back to Mexico
(courtesy Brandon Smith)
BRANDON SMITH…
Do They Deserve It? Mexico Is Collapsing As The US Deports Illegals Back Home
Tuesday, Jul 08, 2025 – 11:25 PM
Authored by Brandon Smith via Alt-Market.us
Oh, the delicious irony. For many years I’ve been writing about the southern US border and the many ways in which Mexico has used it as a “steam valve” to get rid of people in perpetual poverty, as well as malcontents, violent criminals and political revolutionaries. Who could have foreseen a time when the conundrum would be reversed and Mexico would be crushed by an avalanche of its own unwanted citizens?
But weren’t we told that migrants are an “economic boon” to any country lucky enough to have them?
The argument among progressives and open border activists has always been that migrants are average law abiding people (just like us) who slip across the border simply to integrate into our society and live the American dream. They claim that Mexican leaders are not in control of the situation and that people are desperate to escape crime and social decline.
In reality, government officials have long encouraged migrant caravans to traverse their territories and they have allowed illegal immigration into the US as a means to divert their failures into the laps of American taxpayers. Migrants aren’t trying to escape problems in Mexico, they ARE the problem in Mexico. The more of these caravans the Mexican authorities can get rid of, the better their economic situation appears.
I wrote about this dynamic in detail in my recent article ‘Illegal Alien Economy: How Foreign Nations Exploit U.S. Borders For Profit’. Specifically, I examined threats made by Mexican President Claudia Sheinbaum over the possible taxation of remittances (US dollars) sent by migrants from the US into the coffers of Mexican banks and households.
She asserted that her government would “mobilize” against the US should conservative politicians continue their campaign to stop illegals from transferring money back home. Remittances are the single largest source of revenue Mexico receives from foreign countries. Their economy loses significantly without this cash flow.
Beyond the issue of easy money, though, is a singular reality which I have reiterated for a long time: Central and South American nations cannot survive the influx of returning migrants. They will be suffocated by the very same illegals they originally foisted upon the US.
The purging of millions of undesirables reduces Mexico’s poverty stats, homeless stats, unemployment stats and crime stats. I have to laugh every time I hear smug Europeans criticize the US for our violent crime rates – Only now are they beginning to understand what happens when you overwhelm a western nation with a third world demographic and a third world mentality. We certainly have our own home brewed fatigue-ers, but taking on millions of fatigue-ers from other nations does not help.
It’s difficult to keep crime low when other countries offload their problem children onto your front lawn.
Furthermore, labor data proves that illegals have been stealing American jobs and driving down American wages. It’s no coincidence that employment numbers for native born Americans have spiked in recent months as migrant jobs have decreased in tandem with deportations.
There’s a lot more proof in the pudding when we examine what is currently happening in Mexico, though.
Riots in Mexico city are breaking out and they are growing more violent by the day. Residents blame “gringo immigrants” and “digital nomads” for moving into the country and driving up food and housing costs. They also complain that white visitors are allowed to stay on their visas for far too long and that they refuse to “learn their language or respect Mexican culture”. Gee, that sure sounds familiar. Has Mexico gone MAGA?
The irony is, of course, that conservative Americans have been warning about the same issues caused by migrants from Mexico and we have been called “racists” and “fascists” for doing so.
There are approximately 700,000 US citizens residing in Mexico today, a tiny number compared to the tens of millions of Mexican migrants in the US illegally. But somehow, gringos are to blame for rising prices?
Realty experts in the Mexican market say that the cause of the shortages is a slowdown in housing development (Didn’t they tell us we needed illegals to help build more houses to counter the housing shortage in the US? Why don’t they put all these returning construction supermen to work in Mexico?). This explanation doesn’t account for inflation in other areas of the economy such as food and energy. So, are white tourists and ex-pats making things more expensive south of the border?
No, this is nonsense. Perhaps in a handful of resort towns the case might be made, but the truth is that Mexicans are being propagandized into thinking US migrants are the cause of their woes when it is actually the mass return of their OWN CITIZENS from the US.
Some of these people have been deported by force, but armies of them are self deporting and the Mexican economy simply can’t handle the strain. The surge started in 2024, even before Trump took office, with many illegals leaving the US because of inflation as well as the expectation of a conservative election win.
The riots, though, are probably starting now because of the mass deportations. Mexico City in particular has been inundated with migrants, many of them from other countries in Central and South America, as they look for a new place to settle outside the US.
I’ll say it again – I believe the Mexican population is being agitated into violence against American visitors by false claims that they are driving up prices when it is returning illegals that are the real cause. Mexican leaders are trying to distract their population from the bigger picture.
To be sure, there is obviously the NGO issue to consider. Central and South American leaders have not been acting unilaterally as they push for open US borders. Globalist organizations have been expediting matters by feeding cash into programs that guide illegals into the US. They do this to further their vision of a borderless multicultural world, but also to destabilize western societies and displace groups of people they see as likely threats in the future (namely white Christian conservatives).
However, globalist non-profits only smooth the way; its governments like the variety in Mexico that have been providing the human bodies for the NGOs to work with.
Now that Mexico is witnessing the pure Karma of their actions, what is likely to happen? First, the Mexican economy is going to go into a tailspin in a very short period of time. Prices will skyrocket due to crushing demand as illegals come home (just as they helped to trigger rising prices in the US during the Biden border bonanza).
Second, unemployment will rise exponentially along with a saturated labor market. High competition for limited jobs will force government intervention. But in Mexico the government has far less means at its disposal to adapt to the chaos of mass immigration. They will seek to establish social programs to gloss over the damage, but this will fail. Not only are they taking on millions of citizens that they tried to get rid of, they are losing access to the billions of US dollars those migrants were injecting into the Mexican economy. It’s a double whammy.
Third, Mexican officials will demonize the US for the deportations, as if it’s our fault they sent so many foreigners into our country without our permission. As we have seen, this is already leading to animosity across the border and Americans will remain at risk when they travel.
Fourth, if the current trend continues, Mexico will face economic collapse. They simply won’t be able to mitigate the instability caused by the sudden surge in inflation, housing shortages and the unemployed feeding on their social welfare programs.
What would this means for the US? Riots and violence in Mexico could bleed over into border states. Near zero infrastructure on the Mexican side of the border and even less restrictions on migrant movements, which means even tighter controls will be needed on the US side to keep illegals in check. Cartels may end up being the least of our worries when it comes to threats from Central America.
Keep in mind that a large contingent of Central Americans believe that the southern US belongs to them by historical right. The “La Raza” movement has long called for the retaking of large swaths of US territory in the name of “decolonization” (even though they are also descended from Spanish colonists). I believe they will once again assume that they can solve most of their problems of incompetent governance and economic decline by blaming the US and pressing citizens to invade.
They will double down on the same actions that got them in trouble in the first place. When Claudia Sheinbaum talks about “mobilizing” Mexico against the US, this is most likely what she means – A renewed march on the US border in the hopes that Mexico can reopen the steam valve and alleviate their economic troubles.
The result will not be peaceful as she seems to suppose; it could even mean war. It would be a disaster for the Mexicans, but they’ve been relying on the US for so long that they simply don’t understand any other way. That is to say, they are about to get what they deserve; a taste of their own medicine. The destabilization they tried to export to us is now on its way to blow up their own country.
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS WEDNESDAY MORNING 6;30AM//OPENING AND CLOSING
EURO/USA: 1.1705 DOWN 0.0020 PTS OR 20 BASIS POINTS
USA/ YEN 146.82 DOWN 0.040 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 1.3587 UP .0002 OR 2 BASIS PTS
USA/CAN DOLLAR: 1.3689 UP 0.0026(CDN DOLLAR DOWN 26 BASIS PTS)
Last night Shanghai COMPOSITE UP 4.42 PTS OR 0.13%
Hang Seng CLOSED UP 247.28 PTS OR 1.02%
AUSTRALIA CLOSED DOWN 0.58%
// EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 247.28 PTS OR 1.02%
/SHANGHAI CLOSED DOWN 4.42 PTS OR 0.13%
AUSTRALIA BOURSE CLOSED DOWN 0.58 %
(Nikkei (Japan) CLOSED UP 132.47 PTS OR 0,33%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 3287.40
silver:$36.54
USA dollar index early WEDNESDAY morning: 97.30 UP 12 BASIS POINTS FROM TUESDAY’s CLOSE
WEDNESDAY MORNING NUMBERS ENDS
And now your closing WEDNESDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.116% DOWN 2 in basis point(s) yield
JAPANESE BOND YIELD: +1.515% UP 2 FULL POINTS AND 10/100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.287 DOWN 2 in basis points yield
ITALIAN 10 YR BOND YIELD 3.548 DOWN 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.6320 DOWN 2 BASIS PTS
IMPORTANT CURRENCY CLOSES : MID DAY WEDNESDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.1717 DOWN 0.0007 OR 7 basis points
USA/Japan: 146,44 DOWN 0.428 OR YEN IS UP 43 BASIS PTS//
Great Britain 10 YR RATE 4.6170 DOWN 3 BASIS POINTS //
Canadian dollar DOWN .0013 OR 13 BASIS pts to 1.3682
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The USA/Yuan CNY DOWN AT 7.1802 CNY ON SHORE ..
THE USA/YUAN OFFSHORE DOWN TO 7.1847
TURKISH LIRA: 40.05 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +1.515
Your closing 10 yr US bond yield DOWN 4 in basis points from TUESDAY at 4.375% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.920 DOWN 5 in basis points /11:00 AM
USA 2 YR BOND YIELD: 3.880 DOWN 3 BASIS PTS.
GOLD AT 11;00 AM 3297.80
SILVER AT 11;00: 36.44
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: WEDNESDAY CLOSING TIME 11:00 AM//
London: CLOSED UP 12.84 PTS OR 0.14%
GERMAN DAX: UP 342.65 pts or 1.42%
FRANCE: CLOSED UP 111.75 pts or 1.44%
Spain IBEX CLOSED UP 174.90pts or 1.24%
Italian MIB: CLOSED UP 638.69 or 1.59%
WTI Oil price 67.68 11 EST/
Brent Oil: 69.36 1:00 EST
USA /RUSSIAN ROUBLE /// AT: 78.14 ROUBLE UP 0 AND 55/ 100
CDN 10 YEAR RATE: 3.414 DOWN 3 BASIS PTS.
CDN 5 YEAR RATE: 2.953 DOWN 2 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1718 DOWN 0.0005 OR 5 BASIS POINTS//
British Pound: 1.3591 UP .0006 OR 6 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.6010 DOWN 4 FULL BASIS PTS//
JAPAN 10 YR YIELD: 1.505 UP 2 FULL BASIS PT
USA dollar vs Japanese Yen: 146.31 DOWN 0.559 BASIS PTS
USA dollar vs Canadian dollar: 1.3695 UP 0.0026 BASIS PTS// CDN DOLLAR DOWN 26 BASIS PTS
West Texas intermediate oil: 68.30
Brent OIL: 70.10
USA 10 yr bond yield DOWN 8 BASIS pts to 4.336
USA 30 yr bond yield DOWN 7 PTS to 4.875%
USA 2 YR BOND: DOWN 5 PTS AT 3.857%
CDN 10 YR RATE 3.375 DOWN 7 BASIS PTS
CDN 5 YEAR RATE: 2.919 DOWN 5 BASIS PTS
USA dollar index: 97.16 DOWN 2 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 40.02 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 78.16 UP 0 AND 34/100 roubles
GOLD $3316.20 (3:30 PM)
SILVER: 36.39 (3:30 PM)
DOW JONES INDUSTRIAL AVERAGE: UP 211.33 OR .48%
NASDAQ 100 UP 158.76 PTS OR 0.70%
VOLATILITY INDEX: 15.94 DOWN 0.87 PTS OR 5.18%
GLD: $ 305.52 UP 1.36 PTS OR 0.45%
SLV/ $33.00 DOWN 0.29 PTS OR OR 0.87%
TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 88.13 PTS OR .33%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING
Bitcoin Nears Record High As Big-Tech Leads Stocks Higher Amid Bad Breadth
by Tyler Durden
Wednesday, Jul 09, 2025 – 08:00 PM
Markets are higher today led by big tech with all eyes on NVDA in full break out mode (market cap > $4trn market cap)…
Source: Bloomberg
US equity futures rallied overnight and into the cash equity open but then President Trump issued a new slew of tariff letters mid-morning and that weighed down stocks. Dip-Buyers stepped in almost immediately as stocks erased gains with Small Caps leading on the day (big squeeze) but Nasdaq strong too…
On the back of mega-cap leading, Goldman’s trading desk noted poor breadth today with > 60% of the names down in the S&P today as the Mag7 dominated today’s performance…
Source: Bloomberg
With another short squeeze today…
Source: Bloomberg
No real come back for momo stocks today after yesterday’s tumble…
Source: Bloomberg
Hedge Fund ‘pain’ continued today…
Source: Bloomberg
According to Goldman’s trading desk, the recent catalysts for the Momentum Reversal seem to be:
- the move in back-end Rates
- positioning
- ongoing re-shuffling to start the quarter
- and the big reversal lower in Banks.
His colleague Rich Privorotsky, who heads Delta One in Europe, noted that there was not “much of a catalyst” to the momentum unwind, but the price action is telling:
“The broader trade of “higher dollar, higher oil, weaker gold, small over large” feels self-reinforcing. The tail may be wagging the dog here, as systematic/high gross overpower fundamentals for now.”
The dollar went nowhere today (for a change)…
Source: Bloomberg
Treasury yields tumbled today led by the longer-end (30Y -6bps, 2Y -3bps), erasing all of the (price) losses for the week…
Source: Bloomberg
Gold rallied on the day, finding support at $3300 once again…
Source: Bloomberg
Bitcoin surged on the day, back up near record highs $112,000. While BTC trading doesn’t close, this is the highest price for the cryptocurrency at the US equity close ever… right on cue with Global liquidity’s meltup
Source: Bloomberg
Crude oil ended unchanged on the day after testing up to yesterday’s highs but sold after the biggest crude build since January…
Source: Bloomberg
Finally, as we head towards earnings (amid a buyback blackout), it is noteworthy that Trump Tariffs 2.0 has caught up with Trump Tariffs 1.0 performance...
Source: Bloomberg
…and next week sees the start of event risk catalysts (CPI, OpEx, FOMC)…
Source: Bloomberg
…right as vol seasonals turn up…
…bearish for the vol-dumpers and equity-pumpers.
BIG NEWS OF THE DAY/discussion on currencies with respect to the dollar
Real-Rates Are The Catalyst For A Near-Term Dollar Bounce
Wednesday, Jul 09, 2025 – 04:05 PM
Authored by Simon White, Bloomberg macro strategist,
The dollar has risen marginally despite the latest tariff angst, yet it remains oversold on a short-term basis, with real rates supportive of a bounce against several other currencies.
One of the most dispiriting things you can read in a strategist report is, we are “structurally short, tactically long” on some asset.
Both bases covered. Much like the 60/40 probability forecast for an event, one can always claim victory.
Sometimes though, there is no getting away from it. The outlook for the dollar is negative over the long term for multiple reasons: less global trade, de-dollarization (more accurately less dollarization), re-setting of hedging ratios (see here for more).
Yet it has undeniably sold off a lot already, and markets rarely take the direct path to where they are ultimately going.
A bounce is probably in order.
Adding a bit of heft to this fork-tongued call is real rates.
They are one of the best short-to-medium term drivers of currencies (ie over three-to-six months). Comparing the real rates of all the currencies in the DXY basket usually does a good job of tracking the index. Now, however, the DXY looks overdone relative to the real-rate indicator.
A look at the individual currencies (and broadening to EM FX as well), reveals quite a mix.
The euro, Taiwan dollar, Swiss franc, Canadian dollar and sterling are among those whose volatility-adjusted real rate differentials favour them to correct lower versus the dollar.
On the other hand, there are several currencies where real rates would support more upside versus the US currency, including the Mexican peso, the rupee and the yen.
A quick glance at the basic RSI measure shows the dollar is most oversold against the MXN, CHF, PLN, EUR and TWD.
Thus the dollar is both oversold – and therefore could rally – versus all those five currencies bar the MXN, and real rates favour the dollar to rise against them.
But if you were looking for easy trades, unfortunately there aren’t many.
You might not want to get in the way of the CHF and TWD rallies, which are being driven by safe-haven/reserve inflows and hedging flows respectively.
And nor would you necessarily want to short the Mexican peso, given that its real-rate differentials imply further strength.
That leaves the euro and Polish zloty with perhaps the better odds of selling off.
Overall though, given that the euro, the Swiss franc, the Canadian dollar and sterling make up the bulk of the DXY, real rates, on their own, are very much supportive of a nearer-term rise in the index.
USA DATA RELEASES
FOMC Minutes Show ‘Divided’ Fed Fears Stagflation, Clueless On Actual Tariff Impact
Wednesday, Jul 09, 2025 – 02:05 PM
Since the last FOMC meeting (June 18th), which saw a hawkish tilt to the dots (with Fed members notably divided – nearly as many participants anticipated no rate cuts this year as expected two), we have seen stronger-than-expected jobs data, constant diatribes from the president that ‘too late’ Powell should be cutting rates, and some tariff developments that supported Powell’s pause.
Source: Bloomberg
Stocks have melted up since the FOMC meeting (even as macro has weakened – bad news is good news)…
Source: Bloomberg
…while crude was clubbed like a baby seal (Israel-Iran ‘peace’) as bonds have been very modestly bid against dollar and gold weakness…
Source: Bloomberg.
Rate-cut odds have risen modestly for 2025 since The FOMC meetings (two full cuts priced in, but July off the table) but are well down from pre-payrolls levels…
Source: Bloomberg
And both ‘hard’ and ‘soft’ data has weakened relative to expectations since the last FOMC…
Source: Bloomberg
So, what does The Fed want us to know they are thinking about?
Fed members are confused about tariff risks:
“In discussing their outlooks for inflation, participants noted that increased tariffs were likely to put upward pressure on prices.
There was considerable uncertainty, however, about the timing, size, and duration of these effects.
Many observed that it might take some time for the effect of higher tariffs to be reflected in the prices of final goods because firms might choose not to raise prices on affected goods and services until they had run down inventories of products imported before the increase in tariffs or because it would take some time for tariffs on intermediate goods to work through the supply chain.”
But convinced growth will slow…
- *FED MINUTES: MAJORITY SAW SLOWER ECONOMIC GROWTH GOING FORWARD
While the market has priced-out cuts in July, the Minutes show:
“Most participants assessed that some reduction in the target range for the federal funds rate this year would likely be appropriate, noting that upward pressure on inflation from tariffs may be temporary or modest, that medium- and longer-term inflation expectations had remained well anchored, or that some weakening of economic activity and labor market conditions could occur.
- A couple said they would be open to considering a cut as soon as July if data evolved as they expected
- Some saw the most likely appropriate path would involve no rate cuts in 2025. Those participants cited recent elevated inflation readings, elevated business and consumer inflation expectations and ongoing economic resilience.
- Several said current Fed funds rate may not be far above its neutral rate.
- All participants viewed it as appropriate to maintain Fed funds rate at the current target range.
Despite the market pricing out ‘uncertainty’ about tariffs, The Fed members are cluelessly guessing…
- Participants agreed risks of higher inflation and weaker labor market conditions had diminished but remain elevated.
- Participants observed uncertainty about economic outlook had diminished amid the reduction in announced and expected tarifffs, but overall uncertainty continued to be elevated.
Fed balance sheet size:
“Since balance sheet runoff commenced in June 2022, SOMA securities holdings had fallen almost $2¼ trillion. As a percentage of GDP, the portfolio had declined to close to where it had been at the start of the pandemic. The corresponding drain in Federal Reserve liabilities had largely come out of balances at the Reverse Repo facility, while reserve levels had been relatively little changed over that period. Respondents to the June Desk survey, on average, expected runoff to end in February of next year, a month later compared with the previous survey, with an expected size of the SOMA portfolio of $6.2 trillion, or about 20% of GDP. At that point, the respondents, on average, expected reserves to be at $2.9 trillion and the ON RRP balance to be low.”
Read the full Minutes below:
USA ECONOMIC NEWS
Doge team hits excess Pentagon workers
(zerohedge)
Deep Staters On Edge As DOGE’s DoD Strike Team Hits Pentagon With Sweeping Contract Cuts
Tuesday, Jul 08, 2025 – 09:20 PM
The U.S. Department of Defense has failed every single financial audit since audits began in fiscal year 2018. Despite commanding the largest budget of any federal agency—nearly $850 billion annually—the Pentagon still can’t account for large swaths of its spending. Over the years, trillions have been flagged as “unaccounted for,” fueling speculation around off-the-books operations that taxpayers are kept in the dark about. Even the Government Accountability Office recently warned that the DoD may not meet its target for a clean audit until at least 2028.
On Monday, a team of Goldman analysts led by Noah Poponak told clients that the team of the Department of Government Efficiency (DOGE) at DoD is quietly ramping up contract cancellations. Yes, the DoD—the mecca for bloated budgets and opaque spending—is now the target of DOGE’s slash-and-burn operations. That news alone might have Deep Staters and their Beltway contractor buddies on edge through summer.
Poponak pointed out that contract cancellations at the DoD now rank second in total canceled IT contract value among federal agencies, just behind Health and Human Services.
Notably impacted are consulting firms Booz Allen Hamilton (BAH) and Leidos (LDOS), with several high-value contracts terminated, including a $310 million hypersonic ISR project for LDOS and multiple contracts for BAH totaling over $130 million.
Poponak pointed out, “These DoD contract cancellations may have been impacted by recently passed DoD memos that raise the threshold for contracting IT and services work at the department.”
“We also view this to mean DOGE activity is continuing across the government despite leadership personnel changes. We reiterate our cautious view of the Gov’t IT & Services sector, and are Sell rated on BAH, CACI, SAIC, and VVX; Neutral on LDOS and AMTM; Buy rated on PSN. We continue to think the group will face contracting, backlog, revenue, and margin headwinds over the medium-term.”
Cleaning up the DoD will be the most challenging task yet in rooting out waste and fraud. According to the GAO, the Pentagon is unlikely to pass a full audit by 2028. For decades, the GAO has issued more than 100 recommendations to help the DoD address its financial management failures—most of which remain unresolved.
Related:
- Goldman: DOGE Sparks “Cautious View” On Gov’t IT & Services
- Goldman Downgrades Booz Allen Hamilton To ‘Sell’ Amid DOGE Contract Cancellations
As for DOGE more broadly, President Trump has made it abundantly clear that the cost-cutting theatrics were just that—a circus act (hence Elon Musk’s public frustrations).
The new playbook? Ignore austerity (for now). It’s all about juicing revenue—and yes, piling on more debt—in a massive, multi-trillion-dollar bet to grow the nation out of its debt mess.
So if the so-called cost-cutting was little more than political theater, at least DOGE managed to neuter agency-captured USAID and gut key DEI initiatives funding Marxist activists, thus slowing the spread of wokeism, sabotaging the nation from within across government agencies, the military, and corporations.
end
Things going from bad to worse for Harvard: their accreditation status is in jeopardy!
(zeroheddge)
Federal Crackdown Puts Harvard’s Accreditation Status In Jeopardy
Wednesday, Jul 09, 2025 – 10:00 AM
The Trump administration has significantly escalated its confrontation with Harvard University, warning that the institution may face the loss of its accreditation and moving to compel the university to release records related to its foreign student population.
In coordinated actions on Monday, the Department of Education and the Department of Health and Human Services formally notified the New England Commission of Higher Education that Harvard may be in violation of federal anti-discrimination laws and failing to meet the accrediting body’s standards. The agencies cited allegations of unchecked antisemitism during pro-Palestinian demonstrations on campus in the wake of the Israel-Hamas conflict.
“By allowing anti-Semitic harassment and discrimination to persist unchecked on its campus, Harvard University has failed in its obligation to students, educators, and American taxpayers,” Education Secretary Linda McMahon said in a statement. “The Department of Education expects the New England Commission of Higher Education to enforce its policies and practices, and to keep the Department fully informed of its efforts to ensure that Harvard is in compliance with federal law and accreditor standards.”
According to HHS; “In light of HHS’ OCR’s that Harvard University is in violation of Federal civil rights law, there is strong evidence to suggest the school may no longer meet the Commission’s accreditation standards.“
Separately, the Department of Homeland Security announced it was issuing subpoenas for records related to the university’s Student Visitor and Exchange Program. The department accused Harvard of refusing to comply with multiple prior requests and is now seeking a wide range of documents and communications tied to foreign students enrolled since January 1, 2020.
The requests include disciplinary records, protest-related footage, and any documentation of illegal activity involving foreign students, part of what the administration describes as a broader enforcement of immigration laws and oversight of campus unrest.
Homeland Security Secretary Kristi Noem said the administration has also barred Harvard from enrolling new international students until the university complies.
“We tried to do things the easy way with Harvard. Now, through their refusal to cooperate, we have to do things the hard way,” said Assistant Secretary Tricia McLaughlin in a statement.
The clash reflects a broader campaign by President Donald Trump to reshape the American higher education landscape, which he has long criticized as elitist, ideologically captured, and unaccountable to taxpayers. Harvard, the nation’s oldest and wealthiest university, has become a central target in this campaign.
Administration officials accuse Harvard of failing to maintain order and discipline during protests, while allowing what Bloomberg describes as a dramatic rise in crime on campus. They have also scrutinized the university’s admissions and hiring practices.
In addition to the accreditation threat and immigration crackdown, the Trump administration has revoked more than $2.4 billion in federal research funding allocated to Harvard. Officials have also threatened the university’s tax-exempt status, a move legal scholars say could trigger sweeping implications for nonprofit institutions across the country.
Harvard has challenged both the freeze in federal funding and the international student enrollment ban in court, arguing that the administration is overstepping its authority and violating the university’s autonomy.
The moves mark one of the sharpest confrontations in recent memory between a presidential administration and a single university, highlighting the increasingly fraught relationship between elite institutions and federal regulators.
END
Ex-CIA Boss John Brennan, Ex-FBI Boss James Comey Under Criminal Investigation
Wednesday, Jul 09, 2025 – 11:25 AM
Authored by Ken Silva via Headline USA,
Fox News Digital reported Tuesday that former CIA Director John Brennan and former FBI Director James Comey are both under investigation by the Justice Department for their roles in the politicized and fruitless Russiagate investigation, as well as for making false statements to Congress.
“CIA Director John Ratcliffe referred evidence of wrongdoing by Brennan to FBI Director Kash Patel for potential prosecution,” Fox News reported, citing anonymous DOJ sources.
“A criminal investigation into Brennan was opened and is underway. DOJ sources declined to provide further details. It is unclear, at this point, if the investigation spans beyond his alleged false statements to Congress,” Fox News added.
“As for Comey, DOJ sources told Fox News Digital that an investigation into the former director is underway, but could not share details of what specifically is being probed.”
Under Brennan, the U.S. intelligence community issued a Russiagate report that included the infamous Steele Dossier, which contained false allegations against Trump. The Steele Dossier was found to have been financed by Hillary Clinton’s presidential campaign.
Brennan was also one of the 51 intelligence officials to falsely assess that the Hunter Biden laptop scandal was disinformation—an assessment that helped tip the 2020 election towards Joe Biden.
Comey, for his part, headed the bureau when Russiagate was launched, and he’s thought to have tried to blackmail Trump with the investigation in the early days of his first presidency. Trump fired Comey and replaced him with Christopher Wray.
The news of the investigation into Brennan and Wray came after hours of the Trump administration being bashed online for covering up the Jeffrey Epstein scandal—concluding that he had no co-conspirators other than Ghislaine Maxwell, that he didn’t blackmail anyone, and that he definitely killed himself.
Skeptics were quick to question whether the Fox News story was designed to take attention away from the Epstein coverup.
“Is the Comey investigation a distraction from the Epstein files?” asked prominent Twitter/X personality Gunther Eagleman.
VICTOR DAVIS HANSON
A NEWS/ANTISEMITISM..
KING NEWS
| The King Report July 9, 2025 Issue 7529 | Independent View of the News |
| A mini–TACO Tuesday appeared! @YahooFinance: “I think we’re all getting used to this pattern of President Trump making threats to impose tariffs, then delaying them,” Greenberg Center of Geoeconomic Studies at Council on Foreign Relations director Matthew Goodman says. https://t.co/dok3OVFlAU Chagrined at being mocked as TACO again, Trump surfaced to rebut TACO claims. On Trump Truth Social at 10:45 ET, DJT posted: “…TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 – No extensions will be granted…” https://truthsocial.com/@realDonaldTrump/posts/114818149310161097 Inflation expectations slip in June: NY Fed survey 3% a year from now, down from 3.2% in May… https://finance.yahoo.com/video/inflatio ESUs declined sharply during early Nikkei trading on Tuesday but hit a bottom of 6254.40 at 18:24 ET. They steadily rallied to 6289.00 at 3:55 ET. After an A-B-C retreat to 6273.75 at 6:04 ET, ESUs rallied to 6286.50 at 7:39 ET. ESUs then got volatile and created a megaphone bottom that ended at 10:55 ET. Trump’s “no extensions will be granted” created the bottom. It didn’t take long for trader to dismiss DJT’s ‘no extensions’ remark. Actions, not words being the factor. With the morning nervous nelly seller absorbed, ESUS soared to 6288.50 at 12:27 ET. When no eager buying appeared near the daily high, astute traders feared that an effective Double Top had formed. ESUs sank to 6271.50 at 12:35 ET. After a bounce to 6281.75 at 12:38 ET, ESUs rolled over. Trump says He Will Impose 50% Tariff on Copper – BBG 12:59 ET. ESUs then fell to 6265.75 at 13:18 ET. The afternoon rally took ESUs to 280.75 at 14:11 ET. Trump threatens to impose up to 200% tariff on pharmaceuticals ‘very soon’ https://www.cnbc.com/2025/07/08/trump-threatens-pharmaceutical-tariffs-200.html ESUs stair stepped down to 6268.25 at 15:10 ET and then waffled in a tight range until a late manipulation pushed them 6276.25 at 15:50 ET. Too many traders were long; ESUs sank to 6268.25 at 15:53 ET. Another late pushed got ESUs to 6271.50 at the NYSE close. The ESU volatility on Tuesday was due to a contest between traders playing for TACO Tuesday and/or a Turnaround Tuesday to the upside versus tariff angst sellers. Trump floated amnesty for illegals around the time the DoJ memo on Epstein appeared. Even Trump Kool-Aid imbibers thought the timing of the two was planned. The opprobrium from MAGA over the Epstein Memo and the floated illegal immigrant amnesty is severe. So, Team Trump retreated on TACO Tuesday. Ag Sec Rollins, whom pundits blame for pushing Trump to float the amnesty scheme, publicly denied the amnesty scheme. Ag Sec Rollins: “Where we are on farm labor… programs that inure to moving in seasonal workers are under review… I cannot underscore enough: There will be no amnesty, the mass deportations continue but in a strategic way.” https://x.com/disclosetv/status/1942586723600409055 China warns Trump on tariffs, threatens retaliation on supply chain deals People’s Daily says dialogue is only path to lasting trade pact Says China must stick to principles on tariffs Warns nations against US tariff deals that harm China China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains… https://www.reuters.com/world/china/china-warns-trump-tariffs-threatens-retaliation-supply-chain-deals-2025-07-08/ @themarketear: Strong dollar seasonality about to kick in… (Though mid-November, the dollar tends to rally) https://x.com/themarketear/status/1942619908816490516 On Tuesday, Trump again called for Powell to resign. Positive aspects of previous session The DJTA rallied moderately. USUs rallied modestly in the afternoon. Negative aspects of previous session Most equity indices sank on tariff angst. Fangs were soft all session. Gasoline rallied sharply. USUs declined as much as 14/32. Copper soared on DJT’s 50% tariff remark. Team Trump’s Epstein Memo is a Warren Commission moment that collapsed MAGA trust in DJT. Ambiguous aspects of previous session Has Team Trump’s retreat on central campaign promises pushed DJT supporters to revolt? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Down Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 6228.66 Previous session S&P 500 Index High/Low: 6242.70; 6217.75 The NYT admits migrants cause inflation! As a Tourist Influx Makes Prices Soar, Hundreds Protest in Mexico City – The outrage reflects the growing difficulty of affording a city that has become a hot spot for Western immigrants. The frustrations were built upon years of mass tourism and rising rent prices in large swathes of the city. The influx of foreigners began around 2020, when Americans flooded into the Mexico City to work remotely, dodge coronavirus restrictions and take advantage of cheaper living costs… https://www.nytimes.com/2025/07/05/world/americas/mexico-city-protest-gentrification.html The irony and hypocrisy in the above story is… delicious! 12 Important Questions That All Americans Should Be Asking About the Shameful Attempt to Cover Up the Truth About Jeffrey Epstein – After months of being promised that stunning new information would be released soon, now we are being told to forget the entire thing. The people that were brought in to run the Justice Department and the FBI were supposed to restore faith in the system, but instead they are destroying it. Nobody that can think rationally is buying the lies that we are being fed. Apparently, we are supposed to believe that Jeffrey Epstein didn’t have a client list, he never blackmailed anyone, and he was solely responsible for his own death… #1 Why were Jeffery Epstein and Ghislaine Maxwell arrested and charged with operating an enormous sex trafficking ring that supposedly involved thousands of clients if no such clients ever existed?… #2 Why did U.S. Attorney General Pam Bondi tell Fox News in February that Epstein’s client list was “sitting on my desk right now to review” if no such client list ever existed?… https://themostimportantnews.com/archives/12-important-questions-that-all-americans-should-be-asking-about-the-shameful-attempt-to-cover-up-the-truth-about-jeffrey-epstein @ABC: President Trump’s MAGA base has erupted in outrage over the DOJ and FBI’s memo stating they found no evidence that Jeffrey Epstein kept a “client list,” with many of the president’s most loyal allies blasting the administration’s leadership. https://abcnews.go.com/Politics/trump-supporters-angry-justice-departments-epstein-memo/story Questions to AB Bondi on Epstein hit a very raw DJT nerve: “Are you still talking about Jeffrey Epstein? This guy’s been talked about for years. We have Texas, we have this, we have all other things, and are people still talking about this guy? This creep? That is unbelievable.” https://x.com/cspan/status/1942623670423158984 @Liz_Wheeler: President Trump snaps at reporter who asks him Epstein question. Trump is massively misreading his base on this. (DJT 2x campaigned on draining the Swamp. MAGA sees protecting it.) It was crystal clear that Trump did NOT want to talk about Epstein and was angry with inquiries. Epstein talk will NOT go away soon, DJT! You and your team made this bed; MAGA is forcing you to address it. Team Trump has no public support for covering up Epstein stuff. Inside Paper: Pam Bondi on Jeffrey Epstein: “To him being an agent, I have no knowledge about that. We can get back to you on that.” https://x.com/TheInsiderPaper/status/1942625302439420331 A palpably nervous Bondi said the missing minute on the Epstein surveillance video is a normal occurrence that happens every day as the video resets. Few people are buying this! @RogerJStoneJr: Why would Bannon meet with Epstein at his New York home and in Paris after Epstein was convicted on sex crimes in Florida? Why would he coach Epstein for his 60 minutes appearance? @elonmusk: (Ex-DJT campaign mgr.) Bannon is in the Epstein files. How can people be expected to have faith in Trump if he won’t release the Epstein files? (Now outside the tent pi$$ing into the tent!) @RealAmVoice: @JackPosobiec to @AGPamBondi: “You, personally, handed me a binder that said ‘Phase 1 of the Epstein files’…now you’re saying there’s nothing? So don’t sit there and say ‘case closed’ when your own actions are what led to this point… This is worse than Hillary on Benghazi…” https://x.com/RealAmVoice/status/1942659832995074363 Tucker Carlson Warns Trump Could Spark a ‘Revolution’ With ‘Very Dangerous’ Epstein Cover-Up – “But as an analyst, or as somebody familiar with history, somebody who has an audience and can pick up on social trends, people are mad as hell right now. They are angry,” he continued… “But how can you say that thousands of children were raped, but I’m not going to find out who raped them!?… Who raped them? Where are the rapists? Like, why aren’t they in jail? This is the Department of Justice… it’s very dangerous to play around with this stuff. Like, very dangerous. I don’t want a revolution, but if you wanted a revolution this is how you would act. https://www.msn.com/en-us/politics/government/tucker-carlson-warns-trump-could-spark-a-revolution-with-very-dangerous-epstein-cover-up/ar-AA1Id05V FBI launches criminal investigations of John Brennan, James Comey: DOJ sources CIA Director John Ratcliffe referred Brennan for criminal investigation to the FBI, sources told Fox News Digital https://www.foxnews.com/politics/john-brennan-james-comey-under-criminal-investigation-doj-sources (One way to assuage the anger of the Epstein fiasco.) Trump publicly burns Pete Hegseth with major U-turn on Ukraine weapons stance The president said that the U.S. will ‘have to’ once again send powerful weapons to Ukraine, despite deciding to pause shipments one week prior… And Trump made an already awkward moment worse as taunted CNN’s Kaitlan Collins one day later during a Cabinet meeting – claiming he was unaware of who ordered the pause… NBC reported on July 4 that the Pentagon held up a shipment of weapons for Ukraine for a week amid concerns about the capacity of U.S. stockpiles… https://www.dailymail.co.uk/news/article-14886323/donald-trump-pete-hegseth-ukraine-weapons-stance.html @overton_news: President Trump SHUTS DOWN talk of “amnesty” for illegal farm workers once and for all… During his cabinet meeting, a reporter tried to pin him down: “Mr. President, on immigration. The Secretary of Agriculture did say this morning that ‘undocumented’ workers would not be covered by any amnesty for working on the farms. You had said maybe that the ICE folks won’t go after those folks on farms. So which is it?” Trump: “No, no. There’s NO amnesty. What we’re doing is we’re getting rid of criminals, but we are doing a work program.” Secretary Brooke Rollins jumped in to back him up: “… This morning we talked about protecting the farmers and the farmland. But obviously this president’s vision of no amnesty, mass deportation continues, but in a strategic way. And then ensuring that our farmers have the labor that they need.” Trump then hammered it home: “We want to give the farmers the people they need, but we’re not talking amnesty.” https://x.com/overton_news/status/1942636396474253802 Declining immigration weighs on GDP growth, with little impact on inflation – Dallas Fed Applying these estimates to our baseline policy scenario, which assumes that net unauthorized immigration remains at its spring 2025 level, annual GDP growth is about 0.8 percentage point lower than it would have been if net unauthorized immigration would have evolved as in the CBO’s latest demographic projection… our results only speak to the potential effects of restricting unauthorized immigration, which may be quite different from the effects of restricting legal immigration. Given these caveats, readers should be aware of the uncertainty around our estimates, especially regarding immigration’s effects on GDP growth… https://www.dallasfed.org/research/economics/2025/0708 Dallas Fed academics admit that their projection about the effect of deportations is uncertain. Why make the projections then unless it’s for political reasons? Today – Despite bulls’ best efforts, they could NOT generate a Turnaround Tuesday or a TACO Tuesday Rally. With stocks historically overbought, Tuesday’s action suggests stocks need more time to rest and retrench. The S&P 500 Index traded sideways for the entire session; and the after range was modest. Today could be another range day. Earnings season is still a few sessions away. ESUs are -4.00; NQUs are -6.00; USUs are +8/32; and gold is -2.00 at 20:10 ET. Expected Economic Data: June NFIB Small Business Optimism 98.6; June NY Fed 1-yr Inflation Expectations 3.13%; May Consumer Credit $10.55B; FOMC Meeting Minutes 6.18 14:00 ET S&P Index 50-day MA: 5919; 100-day MA: 5783; 150-day MA: 5857; 200-day MA: 5849 DJIA 50-day MA: 42,364; 100-day MA: 42,060; 150-day MA: 42,632; 200-day MA: 42,678 (Green is positive slope; Red is negative slope) S&P 500 Index (6229.98 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 5447.29 triggers a sell signal Weekly: Trender and MACD are positive – a close below 5481.62 triggers a sell signal Daily: Trender and MACD are positive – a close below 6144.38 triggers a sell signal Hourly: Trender and MACD are negative – a close above 6262.39 triggers a buy signal New book exposes Jill Biden’s power grab amid husband’s political demise https://t.co/hJjGI1JH9o NY man charged with threatening to shoot ICE agents — and their kids: ‘Kill them all’ …calling the federal agency “the new age Gestapo,”… (A Dem talking point!) https://trib.al/880QRTv @libsoftiktok: “There is an insurrectionist movement in the Democrat Party that is inspiring domestic terrorism against ICE… FEDERAL LAW IS THE SUPREME LAW OF THE LAND” – Stephen Miller https://x.com/libsoftiktok/status/1942620160898019455 Ex-DNI @RichardGrenell: We did some of this to ourselves. We allowed the Democrats to create entire cities where the rule of law was suspended. @KarenBassLAnow thinks that she can ignore federal immigration laws. And in fact, she openly calls for law enforcement to ignore the laws, too. This is an insurrection playing out in real time. @libsoftiktok: Brandon Johnson, Democrat mayor of Chicago, says that his police force “will not ever cooperate with ICE.” This sanctuary city mayor is protecting criminal illegals at the expense of American citizens. https://x.com/libsoftiktok/status/1942618432106832356 Alvarado ICE facility attack: 11 charged in ‘ambush’ on ICE officers, officials say Eleven people face charges after a “planned ambush” on an ICE facility in Alvarado where a group intended “to kill ICE corrections officers,” according to law enforcement officials… (6 women?) https://www.fox4news.com/news/texas-ice-detention-center-attack-alvarado @grayzoneintel: For the first time in nearly a decade tracking the Far Left, we just witnessed a coordinated, complex ambush by a Far-Left direct action cell. And the media is SILENT on its implications. Here’s what you need to know: 1. Last Friday, 8-10 individuals launched fireworks and vandalized an ICE facility in Alvarado, Texas to draw a law enforcement presence… 3. What this shows is an operational evolution from individuals acting out of uncontrolled rage to coordinated cell-based violence. Now that this precedent has been set, where do we go from here?… 8. The Georgia RICO case is a great example. After 61 Far Left militants were charged under the RICO Act — and some with domestic terrorism — the Stop Cop City movement folded. They deleted their website and stopped most operations because they didn’t have the people… 11. The Alvarado ambush is a watershed moment for this country and our ongoing Low Intensity Conflict. We will almost certainly continue to see armed political violence against federal facilities and/or personnel. RICO works… https://x.com/grayzoneintel/status/1942591426640109719 Beachhead: Georgetown U. – How Foreign and Domestic Radical Actors Captured a U.S. University Over the past three decades, malign foreign influence actors from Qatar, Turkey, and Malaysia have entrenched themselves at Georgetown University, using the institution’s campuses in Washington, D.C. and Doha as bases to propagate Islamist ideology, train sympathetic academics and diplomats, and fundamentally reshape Middle East and Islamic studies… As early as the 1990s, terror operatives such as Basheer Nafi—the employee of both the World and Islam Studies Enterprise and Safa—was publicly involved with Georgetown University and its Center for Muslim-Christian Understanding… The Department of Justice must consider: The pursuit of material support cases against American activist-academics that exchange expertise on joint platforms with representatives of designated terrorist organizations. Georgetown staff and faculty appear to be acting in coordination with foreign governments in Qatar, Turkey, and Malaysia. Several ACMCU staff aim to sway public opinion in favor of these regimes, while also working to influence public policy. These faculty members thus should be subject to Foreign Agents Registration Act (FARA) investigations. Authorize the Department of Justice to pursue criminal penalties for universities and 501(c) organizations that submit materially false or incomplete disclosures under Section 117 or IRS filings. Expanding the Law Section 1286 of the 2019 National Defense Authorization Act mandates the Department of Defense to publish a list of foreign institutions engaged in problematic activities. This list informs vetting, funding and recruitment decisions by federal agencies and beneficiaries of federal monies… https://www.meforum.org/mef-reports/georgetown Georgetown is, or was, run by the very controversial Jesuits, who are the radicals in the Catholic Church. The late Pope Francis was a Jesuit. @EYakoby: An Islamist professor at Princeton University openly declares her and others’ true intentions: “Get the University’s money and use it to dismantle the University.” Why is she still employed by Princeton? (Suicide of the West, indeed!) https://x.com/EYakoby/status/1942014613110796548 Las Vegas Review-Journal @reviewjournal: Hundreds of Nevada residents from Honduras & Nicaragua who have been shielded from deportation for a quarter-century are set to lose their temporary protection. @thejcoop: They wrote “a quarter-century” and “temporary” in the same sentence without a hint of irony. @katesrichardson: Supreme Court lets Trump move forward with plans for large-scale reductions in the federal workforce. Justice Ketanji Brown Jackson issued the only dissent. https://x.com/katesrichardson/status/1942674084502069699 Jackson earns jabs from liberal justice as colleagues increasingly rebuke her in opinions Though a relatively soft rebuke, Sotomayor’s singling out of Jackson marks the latest incident of a Supreme Court justice feeling the need to explicitly slap down the Biden appointee. Jackson, in her dissenting opinion, explicitly asserted that the issue at hand was the matter of the restructuring, which Sotomayor unambiguous rejected… https://justthenews.com/government/courts-law/jackson-earns-jabs-liberal-justice-colleagues-increasingly-rebuke-her @charliekirk11: For the second time in two weeks, a Supreme Court justice is using her opinion to scold Justice Ketanji Brown Jackson for not understanding what she is talking about. Twist: This time, it’s progressive Justice SONIA SOTOMAYOR doing it… Imagine how much of a drag it must be to have the DEI justice embarrassing your side. Babylon Bee’s @JoelWBerry: Democrats are statistically the least charitable people in the nation, so they assuage that guilt by voting for the government to handle the charity for them. Iowa barbers now earn as they learn; Illinois forces $38k in costs (Socialism is expensive!) The costs in Illinois are over $38,000 when tuition and lost wages are added. Illinois licensing forces people to take on that debt just so they can work for an average salary of about $27,000… Black workers held fewer than 1 in 10 cosmetology licenses… Illinois requires barbers and cosmetologists to log 1,500 unpaid hours of classroom instruction at an approved trade school before they can start any paid work… the average cost of Illinois’ cosmetology school at nearly $18,000… https://www.illinoispolicy.org/iowa-barbers-now-earn-as-they-learn-illinois-forces-38k-in-costs/ @bennyjohnson: Fascinating that the same Department of Justice that could lock up every grandma who even looked at the US Capitol on January 6th is completely helpless when asked to find the billionaire-politician clients of the world’s most famous pedo when they’re all on video and flight logs. | |
SWAMP STORIES FOR YOU TONIGHT
Watch: Investigative Journalist Explains Why Epstein Case Will Never Progress…
Wednesday, Jul 09, 2025 – 09:15 AM
Authored by Steve Watson via Modernity.news,
Journalist Nick Bryant notes in this viral clip from the Shawn Ryan podcast that the Jeffrey Epstein case is being covered up by the federal government and will never progress because it would destroy their entire operational system.
“Epstein had cameras in all of his homes. Epstein was definitely a blackmail artist,” Bryant notes.
“The government wants to make sure that that does not come out. A huge part of our political system is predicated on blackmail,” he adds.
“If that dark, malignant corner of the intelligence that is using blackmail against our politicians and other people, if they were using children, that would make the American people erupt,” Bryant further urges.
He continues, “For that dark corner of intelligence, this is Omaha Beach. They’re not going to give an inch.”
“If you look at all the victims and all the perpetrators and all the procurers involved in the Epstein network … no one’s been indicted except for Ghislaine Maxwell,” the journalist explains.
“That really shows that our government, unfortunately, wants to stop it there,” he adds.
“Why is our government aiding, abetting child trafficking unless they’re protecting some very powerful people and a political process?” Bryant posits.
“That’s the only way that it makes sense,” he concludes.
As we highlighted yesterday, President Trump and Attorney General Pam Bondi responded very tersely to a reporter’s question about the Epstein case Tuesday, with Trump clearly disgusted that it was still being brought up.
Tucker Carlson, Glenn Beck Blast “Incompetent” Bondi, Break Down Epstein Coverup
It’s clear that there is a massive coverup in operation.
Former CIA Officer On Epstein Whitewash: “I Just Don’t Buy It”
Trump vowed to provide transparency on the case, yet his DOJ is putting up a brick wall, prompting many of his supporters to call it out as unacceptable.
Many have found themselves reluctantly having to agree with the likes of Trump hater Cenk Uygur and CNN propagandist Jake Tapper.
It is insane.
Meanwhile Representative Anna Paulina Luna,who chairs the Task Force on the Declassification of Federal Secrets, notes in an X post, “The American people deserve to know truth ref. Epstein, regardless of who it impacts.”
She added that there is further evidence that can be authorised for release, declaring that she will push for it.
“The American people should be free to come to their own conclusions. The Truth will always come out one way or another,” Luna urged.
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
END
Biden dr pleads the 5th
Biden’s White House Doctor Invokes 5th Amendment, Refuses To Answer House GOP Questions
Wednesday, Jul 09, 2025 – 11:45 AM
After requesting to delay his testimony, Kevin O’Connor – former President Biden’s White House doctor, refused to answer questions during a deposition in front of the House Oversight and Government Reform Committee on Wednesday, according to a statement from his legal counsel that cites doctor-patient privilege and constitutional rights against self-incrimination.
“Earlier today, Dr. Kevin O’Connor asserted the physician-patient privilege, as well as his right under the Fifth Amendment to the U.S. Constitution, in declining to answer questions from the staff of the House Committee on Oversight and Government Reform regarding his service as Physician to the President during the Biden Administration,” reads the statement.
“On the advice of his legal counsel, Dr. O’Connor refused to answer questions that invaded the well-established legal privilege that protects confidential matters between physicians and their patients. His assertion of his right under the Fifth Amendment to decline to answer questions, also on the advice of his lawyers, was made necessary by the unique circumstances of this deposition.”
O’Connor appeared for the deposition after House Oversight Committee Chair James Comer (R-KY) subpoenaed him last month to compel his testimony as part of the panel’s investigation into the massive coverup of Biden’s cognitive decline – as well as whether Biden was aware of documents signed using his “autopen” signature.
“The president is the most powerful person in the world. The American people have a right to know the health condition of the president, both physical and mental,” Comer said before the interview, adding “I don’t believe that he can hide behind doctor-patient confidentiality because this is the president of the United States, and people expect the White House physician to be truthful and transparent about the president of the United States’ health.”
O’Connor’s lawyers had requested a postponement over the weekend – raising concerns over doctor-patient privilege, and asserting that the committee had declined to rule out any limitations as to the scope of the deposition.
‘Biden’ has strongly denied that he was not in a right state of mind while he was president, calling the claims “ridiculous and false.’
end
GREG HUNTER INTERVIEWING DANE WIGINGTON
Texas Flooded by Climate Engineering Terrorists – Dane Wigington
By Greg Hunter On July 9, 2025 In Political AnalysisNo Comments
By Greg Hunter’s USAWatchdog.com
Renowned climate engineering researcher Dane Wigington has been warning of profound damage being done to people because of climate engineering. For the latest evidence, look no further than the extreme flash flooding in Texas that happened recently with more than 100 dead and 160 still missing. Wigington says, “With this event in Texas that has just happened, the climate engineers, aka weather terrorists, overplayed their hand yet again. Now people are truly taking notice. There was nothing natural about this event. How bad does it have to get before people look up, wake up, stand up and start to talk about the all-out biological and chemical warfare taking place in our skies. Texas is a horrible event, and there are so many more like it happening all over the globe.”
Wigington says the people in power are not going to stop man-made weather modification that has been covertly going on for decades. Wigington says, “We definitely have people behind the curtain who want this issue exposed. For those in power and those defense contractors such as Raytheon and Lockheed Martin, they are too committed to turn back. They will only continue to double down. Climate engineering, we are told, is a last-ditch effort to try to slow down the warming of the planet. It is actually worsening the warming of the planet and very significantly. These particles they are spraying that they are trying to use to deflect the sun’s energy are trapping more energy than they deflect. They are destroying the protective layers of the atmosphere. They are killing forests. . .. There has been 15,000 square miles of forests in Canada that have been burned up so far this year. With these particles, you get less rain, more dry lightening and more dry fire starts. These forests have been prepared to burn with ferocity. Those in power actually believe there is a benefit for incinerating northern latitude forests to put enough smoke in the air to provide temporary cooling at the cost of ensuring no one gets out of this alive. Are they that crazy? In the last two weeks, you can search ‘wildfire smoke cools the planet’ and they will find acknowledgement of what I just stated.”
Wigington contends the environment is collapsing, and man-made weather modification is turbocharging the implosion. Wigington says, “It’s way worse than anything we are being old. Why would they push agendas that push climate change but mask how severe it is? They have objectives they want to carry out, but they don’t want to panic the herd either. They especially do not want the herd waking up to the fact that these covert operations of climate engineering have been going on for 80 years and have made a bad situation unthinkably worse. These operations are pounding nails into our collective coffins. This is being used for biological warfare too.”
Wigington says 40 million to 60 million tons a year are being sprayed into the atmosphere. They can loot, plunder and pillage the planet forever, and they can just cool down the planet with these toxic light scattering particles. How’s that working out so far as we are circling the drain? Insects are collapsing, fisheries are collapsing, crops are collapsing and we have all these health issues. Every other commercial on TV is a Big Pharma commercial.”
In closing, Wigington says, “We have circles in Washington right now stating and have stated that they see a benefit in a limited nuclear exchange to provide temporary cooling of the planet. Is that not total insanity? . .. If that happens, it will strip away any remaining ozone layer and it’s game over. We are done.”
There is much more in the 55-minute interview.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with climate researcher Dane Wigington, founder of GeoEngineeringWatch.org, to talk about the climate engineering terror in Texas and around the world for 7.8.25.
The plant wellness products of CBDistillery.com will help you sleep, lower your stress and treat your pain. Click here to shop. You can also call 855-223-7766 and talk to a real human.
After the Interview:
CBDistillery.com can help with getting better sleep, lowering your stress and treating your pain. Click here to shop. You can also call 855-223-7766 and talk to a human.
There is vast and totally free information on GeoEngineeringWatch.org.
To see the free film called “The Dimming,” click here.
Click here to donate to GeoEngineeringWatch.org.
SEE YOU TOMORROW
harveyorganblog.com 
[…] immediately withdraw the Malone Bourla Bancel Sahin Wiles Weissman Kariko Pfizer Moderna BioNTech et al. mRNA technology platform gene delivery system ‘so called vaccine’ from USA markethttps://harveyorganblog.com/2025/07/09/july-9-gold-closed-up-4-05-to-3312-50-with-silver-down-a-smal… […]
LikeLike