332 H STANDARD CHARTERED B 6
661 C JP MORGAN SECURITIES 111 65
686 C STONEX FINANCIAL INC 2
709 C BARCLAYS 63
905 C ADM 25
GOLD: NUMBER OF NOTICES FILED FOR JULY/2024: 136 CONTRACTs NOTICES FOR 13,600 OZ or 0.4230 TONNES
total notices so far: 7918 contracts for 791,800 OR 24.628 tonnes)
SILVER NOTICES: 370 NOTICE(S) FILED FOR 1/850 million OZ/
total number of notices filed so far this month : 8.229 CONTRACTS (NOTICES) for 42.145 million oz
EXCHANGE FOR RISK ISSUANCE FOR SILVER/MAY
JULY: 24.220 MILLION OZ
AND JULY: 44.055 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 : 50.46 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 ROSE BY A MEGA MEGA HUGE SIZED 8480 CONTRACTS OI TO 176,218 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 220 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 220 CONTRACTS and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 220 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 8480 CONTRACTS AND ADD TO THE 1445 E.FP. ISSUED
WE OBTAIN A MEGA MEGA HUGE SIZED GAIN OF 8700 OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES WITH OUR GAIN IN PRICE OF $1.42 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 43.80 MILLION PAPER OZ
OCCURRED WITH OUR $1.42 GAIN 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 MONDAY MORNING:
SHANGHAI CLOSED UP 9.47 PTS OR 0.27%
//Hang Seng CLOSED UP 63.75 PTS OR 0.40%
// Nikkei CLOSED DOWN 76.68 PTS OR 0.21% //Australia’s all ordinaries CLOSED DOWN 0.06%
//Chinese yuan (ONSHORE) CLOSED UP AT 7.1672 OFFSHORE CLOSED UP AT 7.1679/ Oil UP TO 69.31 dollars per barrel for WTI and BRENT UP TO 71.24 Stocks in Europe OPENED MOSTLY ALL RED
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP TRADING AT 7.1772 AND STRONGER//OFF SHORE YUAN TRADING UP TO 7.1779 AGAINST US DOLLAR/ AND THUS STRONGER
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END
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A MEGA HUGE SIZED 13,871 CONTRACTS TO A STILL LOW NUMBER OF 445,777 OI WITH OUR GAIN IN PRICE OF $32.35 WITH RESPECT TO FRIDAY’S // TRADING. WE LOST ZERO NUMBER OF NET LONGS WITH THAT PRICE GAIN FOR GOLD. AND AS YOU WILL SEE BELOW, OUR GAIN IN PRICE ALSO HAD A STRONG NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (3412 ). WE HAD LITTLE T.A.S. LIQUIDATION //FRIDAY TRADING.
THE CME ANNOUNCED FRIDAY NIGHT, A ZERO EXCHANGE FOR RISK CONTRACT ISSUANCE FOR 0 OZ OR NIL TONNES.
HISTORY: LAST SIX MONTH’S EXCHANGE FOR RISK
IN FEBRUARY:
WE HAD A HUGE FIVE EXCHANGE FOR RISKS ISSUANCES FOR GOLD, TOTALLING 18.4527 TONNES!.
IN MARCH:
THE TOTAL NO. OF EXCHANGE FOR RISK ISSUANCE FOR THE MONTH OF MARCH (3 NOTICES) EQUALED: 7.6179 TONNES OF GOLD WHICH WAS ADDED TO OUR MARCH DELIVERY TOTALS.
IN APRIL:
WE CONCLUDED APRIL WITH 7 ISSUANCE OF EXCHANGE FOR RISK FOR A TOTAL TONNAGE OF 8.3571 TONNES.
IN MAY:
MAY: 3 EX. FOR RISK ISSUED SO FAR FOR 3025 CONTRACTS OR 302,500 OZ OR 9.4054 TONNES. THIS WILL BE ADDED TO OUR NORMAL DELIVERY TO GIVE US TOTAL STANDING FOR MAY!THIS IS THE 6TH CONSECUTIVE MONTH FOR ISSUANCE OF EXCHANGE FOR RISK//NEW TOTAL EX FOR RISK IS 9.591 TONNES FOR THE 3 ISSUANCE!
IN JUNE
JUNE: ZERO ISSUED
jULY 0
THE RECIPIENT OF ALL OF THESE EXCHANGE FOR RISK CONTRACTS IS THE BANK OF ENGLAND WHO DESPERATELY WANT THEIR LEASED GOLD BACK. THUS WE HAVE TWO SEPARATE ENTITIES (CENTRAL BANKS) DEMANDING THEIR GOLD BACK:
- THE BANK OF ENGLAND
- THE FEDERAL RESERVE BANK OF NEW YORK (NEED TO RETRIEVE THEIR LEASED GOLD FROM THE BIS)
THE COUNTERPARTY TO THE BANK OF ENGLAND’S EXCHANGE FOR RISK ARE BULLION BANKS THAT CANNOT VERIFY THAT THEIR GOLD IS UNENCUMBERED AND THUS THE BUYER, THE CENTRAL BANK OF ENGLAND, ASSUMES THE RISK OF THAT DELIVERY. THIS IS THE 5TH CONSECUTIVE MONTH FOR ISSUANCE OF EXCHANGE FOR RISK !!.(DEC THROUGH APRIL)
DETAILS ON JULY COMEX MONTH//INITIAL
IN TOTAL WE HAD A MEGA HUMONGOUS SIZED GAIN ON OUR TWO EXCHANGES OF 20,761 CONTRACTS WITH OUR GAIN IN PRICE. HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON FRIDAY 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 ANOTHER MEGA MEGA HUGE T.A.S. AS THE CME NOTIFIES US THAT THEY HAVE ISSUED A MUCH SMALLER 10,816 T.A.S CONTRACTS. IT SEEMS THAT THE CASINO HAS THROWN IN THE TOWEL AS NOW ONLY 4 DAYS OF EXTREME HIGH T.A.S. ISSUANCES HAS NOW ENDED. NORMALLY IT IS 5 ISSUANCES AND THEY ARE MUCH LOWER IN NUMBER OF 30,000.
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 1.965 TONNES QUEUE JUMP = 26.830 TONNES OF GOLD
NEW TOTAL TONNES STANDING JULY: 26.830 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 231 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 STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A STRONG SIZED 3412 EFP CONTRACT WAS ISSUED: : /AUGUST 3412 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 3412 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 :
- ZERO LIQUIDATION OF OUR T.A.S. SPREADERS//
- ZERO NET SPEC LIQUIDATION WITH OUR GAIN IN PRICE
T.A.S.SPREADER ISSUANCE
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS USUALLY DURING MID MONTH IN THE DELIVERY CYCLE), BUT NOW ON A DAILY BASIS, THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR FRIDAY MORNING/THURSDAY NIGHT WAS A HUGE BUT MUCH SMALLER THAN NORMAL, 10,816 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 FRIDAY WITH OUR GAIN IN PRICE!
STANDING FOR GOLD LAST 7 MONTHS OF 2025:
YEAR 2025:
JAN 2025:
113.30 TONNES (WHICH INCLUDES 43.408 TONNES EX FOR RISK)
FEB: 2025:
256.607 TONNES (WHICH INCLUDES 18.4567 TONNES OF EX FOR RISK)
MARCH:
STANDING FOR GOLD : 60.33 TONNES + 7.6179 TONNES EX FOR RISK = 67.9479 TONNES WHICH IS EXTREMELY HIGH FOR A NON DELIVERY MONTH.
APRIL:
FINAL STANDING FOR GOLD: 201.573 TONNES + 8.3571 TONNES EX FOR RISK = 209.953 TONNES
MAY: FINAL STANDING 90.235 TONNES WHICH INCLUDES QUEUE JUMPING AND 9.591 TONNES EX FOR RISK.
JUNE: FINAL STANDING 62.534 TONNES PLUS 0.1493TONNES OF QUEUE JUMP EQUALS 93.085 TONNES
JULY: 17.947 TONNES INITIAL STANDING FIRST DAY NOTICE PLUS TODAY’S HUGE 1.965 TONNES QUEUE JUMP = 26.830 TONNES
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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
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COMEX GOLD TRADING/JULY CONTRACT MONTH
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $32.35/ /) AND THEY WERE UNSUCCESSFUL IN KNOCKING OFF SOME NET SPECULATOR LONGS AS WE DID HAVE AN EXTREMELY HIGH SIZED GAIN IN OI FROM TWO EXCHANGES. AND AS EXPLAINED ABOVE WE HAD ZERO T.A.S. SPREADER LIQUIDATION ////FRIDAY. 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, SATURDAY MORNING , IN ORDER TO COMMENCE CONTINUAL RAIDS ON OUR PRECIOUS METALS. SO FAR THIS WEEK, THIS EXERCISE HAS BEEN A TOTAL FAILURE…
SATURDAY MORNING//FRIDAY NIGHT
THE CROOKS HOWEVER COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL FRIDAY EVENING/ SATURDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD TO ARRIVE BY BOAT. IT IS NOW TAKING 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
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ANALYSIS JULY DELIVERY MONTH GOING FROM FIRST DAY NOTICE// JULY COMEX CONTRACT
WE HAVE GAINED A MEGA HUGE SIZED TOTAL OF 53.75 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 MAMMOTH QUEUE JUMP OF 63,200 OZ OR 1.965 TONNES OF GOLD//NEW STANDING ADVANCES TO 26.830 TONNES
ALL OF THIS QUITE GOOD STANDING FOR JULY WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $32.35
WE HAD 3478 CONTRACTS REMOVED TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL.
NET GAIN ON THE TWO EXCHANGES 17,283 CONTRACTS OR 1,728,300 0Z (53.75 TONNES)
confirmed volume FRIDAY 276,176 contracts FAIR
speculators have left the gold arena
END
INITIAL GOLD COMEX
JULY CONTRACT MONTH
JULY 14/2025
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 0 entries . |
| Deposit to the Dealer Inventory in oz | 0 ENTRY |
| Deposits to the Customer Inventory, in oz | one entries Brinks 1607.55 OZ total deposit; 1607.55 oz xxxxxxxxxxxxxxxxI |
| No of oz served (contracts) today | 136 notice(s) 13,600 OZ 0.4230 TONNES |
| No of oz to be served (notices) | 708 contracts 70,800 OZ 2.202 TONNES |
| Total monthly oz gold served (contracts) so far this month | 8229 notices 822,900 oz 24.628 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
1 ENTRY
i) Into Stonex: 662,248.170 oz
total deposit 662,248.170 oz
xxxxxxxxxxxxxxxxxxxxx
DEPOSITS/CUSTOMER
one entry
Brinks 1607.55 OZ
total deposit; 1607.55 oz
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
customer withdrawal
adjustments: 0
AMOUNT OF GOLD STANDING FOR JUNE
THE FRONT MONTH OF JULY STANDS AT 844 CONTRACTS FOR A GAIN OF 622 CONTRACTS. ON FRIDAY WE HAD 10 NOTICES FILED, SO WE GAINED A STRONG 632 CONTRACTS OR 63200 OZ (1.965 TONNES) ENTERTAINED WITH A MAMMOTH 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 GAINED 1368 CONTRACTS UP TO 254,790 AS AUGUST BECOMES THE FRONT MONTH AND IT IS VERY HIGH AND NOT CONTRACTING ENOUGH. WE WILL PROBABLY HAVE A HIGH NUMBER OF TONNES STANDING.
SEPT GAINED 44 CONTRACTS TO 1488
We had 10 contracts filed for today representing 1000 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 111 notices issued from their client or customer account. The total of all issuance by all participants equate to 136 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 65 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 (7918 X 100 oz ) to which we add the difference between the open interest for the front month of JULY (844 CONTRACTS) minus the number of notices served upon today (136 x 100 oz per contract) equals 862,600 OZ OR 26.838 TONNES to which we add 0 tonnes of gold issued under exchange for risk// total standing 26.836 tonnes
thus the INITIAL standings for gold for the JULY contract month: No of notices filed so far (7918 x 100 oz +we add the difference for front month of JULY (844 OI} minus the number of notices served upon today (136 x 100 oz) which equals 862.600 OZ OR 26.836 TONNES + 0 tonnes EX FOR RISK = 26.836 tonnes
TOTAL COMEX GOLD STANDING FOR JULY.: 26.836 TONNES WHICH IS VERY STRONG FOR THIS NORMALLY NON ACTIVE ACTIVE DELIVERY MONTH IN THE CALENDAR.
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COMEX GOLD INVENTORIES/CLASSIFICATION
NEW PLEDGED GOLD:
241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES
204,937.290 OZ PLEDGED MANFRA 3.08 TONNES
83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes
265,999.054, oz JPM No 2
1,152,376.639 oz pledged Brinks/
Manfra: 33,758.550 oz
Delaware: 193.721 oz
International Delaware:: 11,188.542 oz
total pledged gold: 2,200,612.131 oz 68.44 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 36,749.662.047 oz
TOTAL REGISTERED GOLD 20,204,157,.318: or 628.434 tonnes
TOTAL OF ALL ELIGIBLE GOLD 16,544,504.731 OZ
END
REGISTERED GOLD THAT CAN BE SERVED UPON 18,003,545 oz (REG GOLD- PLEDGED GOLD)= 559.99 tonnes //
total inventories in gold declining rapidly
SILVER/COMEX
THE JULY 2025 SILVER CONTRACT//INITIAL
JULY 14
INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 1 entry 1 ENTRY i) Out of Loomis: 30,039.670 oz total withdrawal: 30,039.670 oz |
| Deposits to the Dealer Inventory | 1 ENTRY i) Into Stonex: 662,248.170 oz total deposit 662,248.170 oz |
| Deposits to the Customer Inventory | 2 DEPOSIT ENTRY/CUSTOMER ACCOUNT i) Into CNT 426,343.700 oz ii) Into Loomis 645,058.060 oz total deposit 1,071,401.760 oz |
| No of oz served today (contracts) | 370 CONTRACT(S) (1.850 MILLION OZ |
| No of oz to be served (notices) | 582 contracts (2.910 MILLION oz) |
| Total monthly oz silver served (contracts) | 8229 Contracts (41.145 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
1 ENTRY
i) Into Stonex: 662,248.170 oz
total deposit 662,248.170 oz
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2 DEPOSIT ENTRY/CUSTOMER ACCOUNT
i) Into CNT 426,343.700 oz
ii) Into Loomis 645,058.060 oz
total deposit 1,071,401.760 oz
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx)
withdrawals: customer side/eligible
1 entry
i) out of Loomis 30,038.670 oz
total withdrawal 30,038.670 oz
ADJUSTMENTs 1
a) dealer to customer Brinks: 1,922,320.372 oz
TOTAL REGISTERED SILVER: 194.216 MILLION OZ//.TOTAL REG + ELIGIBLE. 496.623 Million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JUNE
silver open interest data:
FRONT MONTH OF JULY /2025 OI: 952 OPEN INTEREST CONTRACTS FOR A GAIN OF 17 CONTRACTS. WE HAD 407 CONTRACTS SERVED UPON FRIDAY SO WE GAINED 424 CONTRACTS OR 2.120 MILLION OZ ENTERTAINED A MASSIVE QUEUE JUMP WHERE THESE BOYS DECIDED TO TAKE DELIVERY OVER ON THIS SIDE OF THE POND.
AUGUST GAINED 177 CONTRACTS TO 2572
SEPTEMBER GAINED 5303 CONTRACTS UP TO 135,260 CONTRACTS.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 370 or 1.850 MILLION oz
CONFIRMED volume; ON FRIDAY 176,9062 mega huge//
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 8229 X5,000 oz = 41.145 MILLION oz
to which we add the difference between the open interest for the front month of JULY (952) AND the number of notices served upon today (370 )x (5000 oz)
Thus the standings for silver for the JULY 2025 contract month: (8229) Notices served so far) x 5000 oz + OI for the front month of JULY(952) minus number of notices served upon today (370)x 5000 oz equals silver standing for the JULY contract month equating to 44.055 MILLION OZ .
New total standing: 44.055 million oz which is huge for this active delivery month of JULY. THE SILVER COMEX IS NOW UNDER SIEGE!!
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 194,216 million oz of registered silver
JPMorgan as a percentage of total silver: 210.283/496.623 million. 42.33%
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 14 WITH GOLD UP $0.90 TODAY//HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.44 TONNES OF GOLD INOT THE GLD //: /// ///INVENTORY RESTS AT 948.81 TONNES/
JULY 11 WITH GOLD UP $32.35 TODAY//HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.44 TONNES OF GOLD INOT THE GLD //: /// ///INVENTORY RESTS AT 948.81 TONNES/
JULY 10 WITH GOLD UP $4.75 TODAY//HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 0.860 TONNES OF GOLD INOT THE GLD //: /// ///INVENTORY RESTS AT 947.37 TONNES/
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
GLD INVENTORY: 948.81 TONNES, TONIGHTS TOTAL
SILVER
JULY 14 WITH SILVER UP $0.14/ HUGE CHANGES AT THE SLV// A WITHDRAWAL OF 2.453 MILLION OZ OUT OF THE SLV//:.////INVENTORY RESTS AT 478.722 MILLION OZ.//
JULY 11 WITH SILVER UP $1.42/ HUGE CHANGES AT THE SLV// A WITHDRAWAL OF 2.453 MILLION OZ OUT OF THE SLV//:.////INVENTORY RESTS AT 478.722 MILLION OZ.//
JULY 10 WITH SILVER UP $0.47/ NO CHANGES AT THE SLV// A DEPOST OF 0.999 MILLION OZ INTO THE SLV//:.////INVENTORY RESTS AT 481.175 MILLION OZ.//
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 0.000 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.
CLOSING INVENTORY 478,722 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY
PETER SCHIFF
2. MATHEW PIEPENBERG
ALASDAIR MACLEOD
Goodbye to rate cuts
Commodities are rising, and consumer inflation will as well. The common factor is declining purchasing powers for fiat currencies. Forget rate cuts, unless there is a major credit crisis.
| Alasdair MacleodJul 14∙Paid |
The commonest error in the investment industry is to assume that all price changes come from whatever is being priced. Given that all portfolio accounting, relative performance, and taxes assume that the currency’s value never varies, this is understandable. But in these times it is also a fatal error.
Never has this mattered more than today. We sit on the summit of the largest credit bubble in history. President Trump is shaking up its delicate underpinnings, with his erratic behaviour over tariffs and his threats to sack or replace the Fed chairman for not reducing interest rates and devaluing the dollar.
Someone ought to warn him that the quid pro quo for Americans living beyond their means for decades is that nationally they owe foreigners some $40 trillion, invested in bank deposits, short-term government and agency debt, corporate bonds, government debt, and equities. They don’t like what they see in Trump and have only just begun to sell dollars for gold and other fiat currencies.
A consequence of the dollar’s recent weakness is that commodity prices are beginning to rise. Since the beginning of the year, the dollar’s trade weighted index has declined by 10.4%, and the commodities that have outperformed the dollar’s decline are shown in the snapshot below from Finviz:
There is an emphasis on precious metals and bitcoin, which are regarded as inflation hedges pointing the way to other commodity prices rising as well. WTI crude has been a saving grace so far, but after a sharp selloff in April even that has rallied by 8%.
The price relationship between gold and commodities over time is relatively stable. We know this from long term charts before the pure fiat currency era pricing them in gold. Indeed, go back to Diocletian’s edict on maximum prices, and this constancy can be observed over a 1,700 year span.
The chart below makes this point for an index of base metals (listed in the box), which in US dollar terms has risen nearly 30 times since 1900, despite new discoveries and improved extraction techniques. But given these factors, priced in gold a basket of base metals would probably have declined over time from then anyway, but perhaps not as much as the 77% to date.
The gold/dollar relationship held until the dollar was devalued in January 1934, and the 40% split was broadly maintained until 1971. Nevertheless, prices rose over those 37 years, particularly in the post-war years. US Government spending and money in circulation increased significantly, which without the Bretton Woods Agreement would have led to even higher prices. Instead, US gold reserves were sold down suppressing gold’s value over what it otherwise would have been.
This is why even measured in gold, base metal prices rose 150% from their 1900 values in 1952 and 1956. Gold was being devalued by its tie to an inflationary dollar. When this happened again in late-1970 with the index in gold peaking at 258% of its year-1900 value, it was the prelude to a crisis the following year. Something had to give, and it was the dollar that snapped.
Bretton Woods was suspended in 1971 and base metals priced in dollars began to rise steeply while in gold they declined back to 1900-levels. The gap continued to widen until 1980—2002 when prices by both measures stabilised. Following the Lehman crisis and the expansion of the Fed’s base money, in dollars base metals rose significantly, while in gold they declined to only 23% of their 1900 level today.
That they have declined so much measured in gold over the last seventeen years is due to a deteriorating outlook for fiat currencies generally, forcing metal prices lower in real terms. It is not gold, which is overvalued, but base metals which are extremely suppressed. This suppression is the consequence of the widely believed illusion that fiat currencies maintain their value, giving the appearance that base metal prices are higher than they really are in real terms
An undervaluation is eventually followed by a return to the norm, or even an overvaluation. Measured in gold, this would mean a fourfold increase in the index of base metals.
We have just begun to see this with silver, platinum group metals, and copper values rising sharply, even priced in gold, illustrated in the table at the top of this article. Undoubtedly, other metals and commodities will follow. Priced in dollars and other currencies, base metal prices could increase by multiples of their rise in gold as those currencies decline in themselves.
At the same time, western economies are struggling, or even are in outright recession. Macro economists believe that this will lead to lower commodity prices. In real terms, maybe. But this is where their error of assuming constant purchasing powers for currencies in defiance of the facts misleads them. Call it stagflation, perhaps. Better to call it growing loss of faith in fiat currencies. And as their purchasing power continues to decline, there will be no room for those hoped-for rate cuts and declining bond yields.
What are the implications for markets?
Currently, the consensus is that monetary policy is too tight and that the Fed will cut interest rates twice by the year end. But so long as the Fed understands that inflation pressures continue to exist made worse by the dollar’s decline of over 10% since mid-January, and that President Trump’s tariffs are likely to add further price pressures on consumers these cuts should not happen.
Another way to look at it is that Trump is making enemies for the dollar among foreign holders of $40 trillion in the US’s currency and underlying financial assets. Instead of rate cuts and more stimulus, a risk premium is required to dissuade them from selling by maintaining high bond yields and interest rates on deposits. So long as the Fed seeks stability, it has no option other than to maintain current rates and be quick to raise them if needed.
In their summer slumbers, markets appear unaware of this reality. For now, investors are beguiled by the largest credit bubble in history. But like all credit bubbles, it will burst. That might change the Fed’s monetary priorities, forcing them to cut the funds rate, because of the ensuing credit, banking, and collateral crisis. Maintaining the dollar’s purchasing power is no longer the priority.
While violent disruptions of this sort are unpredictable in their evolution, one thing is clear. And that is the dollar and other fiat currencies are moving into respite care. My last chart points the way.
There are only 8.5 cents of a year-2000 dollar’s purchasing power left, measured in real money in everyone’s common law. And since late-2022 the decline has been accelerating. All the major western currencies are now in this exponential race downward toward extinction.
JOHN RUBINO
From the Archives: Is A Silver “Deficit” The Same As A Shortage?
Setting the table for a big move
| John RubinoJul 12 |
Silver has (finally!) had a great few months:
Is this the big move that takes our favorite metal to triple-digits?
Maybe. Here’s a post from this newsletter’s early silver coverage that explains the current bull market.
Is A Silver “Deficit” The Same As A Shortage?
Originally published April 21, 2023
The Silver Institute just published some supply/demand numbers that, at first glance, are about as bullish as it’s possible to get for a commodity. Here’s how Reuters covered the story:
Record Demand Pushes Silver Into New Era of Deficits, Silver Institute Says
Global demand for silver rose by 18% last year to a record high of 1.24 billion ounces, creating a huge supply deficit, the Silver Institute said on Wednesday, predicting more shortages in the years to come.
The silver market was undersupplied by 237.7 million ounces in 2022, the institute said in its latest World Silver Survey, calling this “possibly the most significant deficit on record”.
It said 2022’s undersupply and a 51.1 million ounce shortfall in 2021 had wiped out cumulative surpluses from the previous decade and predicted further undersupply of 142.1 million ounces this year.
“We are moving into a different paradigm for the market, one of ongoing deficits,” said Philip Newman at consultants Metals Focus, which prepared the Silver Institute’s data.
Here are the relevant charts, starting with supply, which has been declining irregularly for a decade — though a big part of the recent decline was due to covid lockdowns and so might be reversed in coming years :
Global silver demand shows a big jump in 2022, part of which is a rebound from lockdown-era lows, especially for Indian Jewelry demand.
The result was a massive deficit in 2022:
The trillion-dollar question
How much of this imbalance is due to lockdown distortions, and how much is now built into the structure of the silver market?
The answer? Some but not all of the deficit is here to stay. Industrial demand, led by solar panels, is likely to keep growing. And investment demand for bullion coins and Asian wedding-gift jewelry should be robust in our suddenly inflationary and unstable world. So let’s say demand stays strong but not necessarily 2022 percentage gains strong, while supply grows but only slowly, leaving the market in long-term deficit.
What does that mean for silver’s price? Here to tell us is silver analyst Ted Butler, who’s been chronicling the paper traders’ silver market manipulation for years. He views what’s happening now as an important turning point:
Goofy Conclusions From the Silver Institute
Hot off the press is today’s just-released world annual silver survey from the Silver Institute. As previewed a couple of months back, the Institute is reporting flat total supply (mining plus recycling) and sharply increased demand growth of 18% or 186 million oz, resulting in the highest silver deficit in modern times of 237 million oz.
The survey then goes on to (try to) explain that despite the axiom of the law of supply and demand that more demand than supply (by a large margin) must result in higher prices, that silver prices were lower on average over the year 2022 than the year before. The Silver Institute’s (Metals Focus’s) pithy explanation for something that should be impossible under the free law of supply and demand, namely, prices moving lower when demand is greater than supply was due to “institutional activity” in silver. Isn’t that just marvelous? I suppose “institutional activity” sounds a lot more dignified and proper than does blatant price manipulation.
The fact is that the only possible explanation for there being much greater demand than supply and prices falling (as the Silver Institute is reporting), is if someone is monkeying with the price. ”Monkeying with prices” is a bland term for what the collusive COMEX commercials do for a living. I guess price manipulation is a term to be avoided at all costs in these reports, despite the fact that all the data in the survey point to that inescapable conclusion.
Don’t worry, I’m not about to launch into another ramble about the ongoing COMEX silver (and gold) manipulation. By this time, you either see it or refuse to see it. More important is that, thanks to the undeniable facts published by those that obviously refuse to see that silver is manipulated in price (like the Silver Institute), it doesn’t matter much any longer who sees the manipulation or not. That’s because the unalterable effects of what a long-term price manipulation (suppression) in silver has wrought is far more important than who sees it or not.
The reason the Silver Institute is reporting a gaping deficit in silver and flat production growth for more than a decade is precisely because prices have been artificially suppressed and manipulated over this time. Nothing, other than price manipulation, is capable for the specific set of facts laid out in this survey. It’s not possible to have more demand than supply, to a record level, and for prices not to explode higher. The good news for silver investors is that the artificial depressed prices have existed for so long and silver inventories have been so thoroughly depleted that the silver manipulation appears to breathing its last gasps. Any day, week or month is all that stands between where we are in silver prices currently and where we’ll be looking down at in a very short time. Sure, we have to be prepared for whatever the last tricks the collusive and crooked COMEX commercials may have up their sleeves, but the hard data on actual supply and demand is so compelling that those dirty tricks won’t matter for much longer.
So is a deficit the same thing as a shortage? Ted Butler seems to think so, in the sense that a prolonged deficit eventually produces a shortage, which in turn leads to higher prices. Maybe a lot higher.
3. CHRIS POWELL OF GATA/DAILY DISPATCHES
South Asian women might be the winners of the gold rush
Submitted by admin on Sun, 2025-07-13 10:17 Section: Daily Dispatches
By Ramishah Maruf
CNN, New York
Sunday, July 13, 2025
Every piece of gold that Farzana Ghani owns holds a memory.
She has intricate jewelry sets from her mother-in-law from her wedding in Pakistan; a gold chain gifted from her mother after she performed the Hajj, the Muslim pilgrimage; and gold coins to celebrate her daughter’s birth.
And she will keep investing in gold, as prices for the metal reach record highs.
“Compared to bonds and compared to holding cash, I would still prefer to buy gold coins,” Ghani, 56, of Miami, Florida, said.
Brides in South Asia are famously decked out in the precious metal — necklaces, earrings, nose rings, hair pieces, and amulets — that can be gifted or inherited. The collection often starts before they’re even born, composed of inherited pieces and gifts to commemorate their birth, life milestones, and religious holidays.
Gold has been known as the most reliable safe haven asset for millennia, but it is more than an investment for South Asian families. The tradition of daughters inheriting their mothers’ gold spans across urban and rural India, regardless of socioeconomic class. …
… For the remainder of the report:
end
Matthew Piepenburg: Is gold revaluation Trump’s red-button option?
Submitted by admin on Sun, 2025-07-13 08:32 Section: Daily Dispatches
8:30a ET Sunday, July 17, 2025
Dear Friend of GATA and Gold:
Matthew Piepenburg of Von Greyerz Gold / Gold Switzerland today makes the case for a U.S.-led upward revaluation of gold to devalue the country’s seemingly uncontrollable and dollar-destroying debt.
Piepenburg concludes: “An emergency gold revaluation of $20,000, by way of just one example (perhaps lower, perhaps higher), would create instant trillions in liquidity to address Uncle Sam’s otherwise mathematically unsustainable bar tab.
“Such a measure would buy time for U.S. IOUs and votes for a beleaguered White House.
“Such considerations, once thought extreme, must now be considered with desperate seriousness in a backdrop of only desperate options.
“Nixon made a radical change in 1971. Can a red-button gold revaluation in 2025 or 2026 be equally ignored?”
Piepenburg’s analysis is headlined “Gold Revaluation: Trump’s Red-Button Option?” and it’s posted at the Von Greyerz / Gold Switzerland internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
end
Gold revaluation shouldn’t surprise, since it’s an old story
Submitted by admin on Sat, 2025-07-12 09:46 Section: Daily Dispatches
9:54a ET Saturday, July 12, 2025
Dear Friend of GATA and Gold:
Lately there has been a big increase in speculation about an official revaluation of gold.
At YouTube this week Rebel Capitalist’s George Gammon seemed surprised by the possibility as he called attention to financial letter writer Luke Gromen’s recent report that the May edition of the Federal Reserve’s Financial Accounting Manual for Federal Reserve Banks describes a mechanism by which the U.S. Treasury Department and the Fed can revalue the U.S. gold reserve:
While this was news to Gammon, revaluation is an old story with gold. Gromen actually disclosed the mechanism in the Fed manual last year —
— and had speculated about gold revaluation in 2023:
That the U.S. government has the power to revalue gold shouldn’t surprise anyone in the monetary metals sector or anyone somewhat familiar with U.S. history. Of course President Franklin D. Roosevelt famously revalued gold in 1934 after attempting to confiscate gold held by the public. As Mike Maharrey of Money Metals Exchange explained last year, the confiscation and revaluation constituted a plan to increase the U.S. money supply during the catastrophic deflation of what became the Great Depression:
In February gold researcher Stuart Englert described other gold revaluations in U.S. history:
Gold revaluation has been a frequent topic in GATA dispatches over the years.
In 2007 GATA called attention to the study written a year earlier by R. Peter W. Millar of Valu-Trac Investment Research in Scotland, who maintained that occasional gold revaluations are necessary in debt-based fiat money systems to prevent catastrophic debt deflations:
In 2008 former Fed Governor Lyle Gramley, speaking on Business News Network in Canada, volunteered that the Fed’s financial position could be made much stronger with an upward revaluation of the U.S. Treasury gold certificates it held:
In 2012 the U.S. economists Paul Brodsky and Lee Quaintance hypothesized that major central banks were already working toward gold revaluation, holding the monetary metal’s price down with various market interventions while they rebuilt their gold reserves, whereupon they would reset gold’s price way up, devaluing government’s debts and restoring themselves to solvency:
In 2009 and 2011 financial letter writer Stewart Thompson foresaw gold revaluation:
Mexican gold and silver advocate Hugo Salinas Price wrote in 2016 that gold revaluation was coming:
For several years London metals trader Andrew Maguire has been saying the same thing:
Perhaps the most compelling disclosures about gold revaluation have come from gold researcher Jan Nieuwenhuijs.
In 2013, writing under a pseudonym, Nieuwenhuijs called attention to the minutes of a meeting held by U.S. Secretary of State Henry Kissinger and his assistant undersecretary of state for economic and business affairs, Thomas O. Enders, at the State Department in 1974. The minutes of the meeting show that Enders explained that gold revaluation is “the reserve-creating instrument” with which governments can increase their money supply, and warned that Western European countries, having acquired more gold than the United States, were now in a position to out-money the U.S. and change all financial valuations in the world:
Starting in 2023, Nieuwenhuijs revealed gold revaluation mechanisms in place with central banks outside the U.S.:
There have been many other commentaries about the possibility of gold revaluation.
With gold and now silver breaking away from the decades-long use of government-underwritten derivatives to suppress their price and support government currencies and bonds — derivatives creating vast, imaginary supplies of the monetary metals, for which actual delivery now is being demanded — revaluation seems closer than ever.
But by itself an official revaluation of gold wouldn’t automatically trigger a change in the value of privately held gold unless some government imposed a convertibility requirement on itself, a requirement to buy and sell gold at the new price. That much self-discipline from a modern central bank or government seems very unlikely.
Instead, gold revaluation would be mainly an accounting gimmick for more money creation.
In the United States, the Treasury Department would direct the Federal Reserve to revalue the Treasury gold certificates it holds and then credit the Treasury’s general account at the Fed with new dollars equal to the increased official value of the gold represented by the certificates. Then the Treasury Department could spend the new money or use it to liquidate debt, or both.
If the revaluation was large enough — and there would be little point in doing it otherwise — hundreds of billions or even trillions of dollars could be created and dispensed by the U.S. government. The government’s debt limit, already a mere technicality insofar as it is raised by Congress whenever the threat of economizing closes in, would become a trivial detail of history.
With a massive revaluation of gold the government would achieve practically infinite money without issuance of debt and the awkwardness and embarrassment of monetizing bonds — raw and direct inflation and currency devaluation.
The inflation produced by such practically infinite money, not gold revaluation itself, is what would increase the price of privately held gold and the price of nearly everything else — at least until government attempted to confiscate gold or to impose “windfall profits” taxes on gold owners. Like gold revaluation, confiscation and “windfall profits” taxes have been used before too.
While the monetary metals are defenders of liberty, they can’t do it all by themselves. Whatever happens, liberty’s price will remain eternal vigilance.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
* * *
4. ANDREW MAGUIRE/LIVE FROM THE VAULT KINESIS 231
5. COMMODITY REPORT…IRON ORE
ASIAN MARKETS THIS MONDAY MORNING:
SHANGHAI CLOSED UP 9.47 PTS OR 0.27%
//Hang Seng CLOSED UP 63.75 PTS OR 0.40%
// Nikkei CLOSED DOWN 76.68 PTS OR 0.21% //Australia’s all ordinaries CLOSED DOWN 0.06%
//Chinese yuan (ONSHORE) CLOSED UP AT 7.1672 OFFSHORE CLOSED UP AT 7.1679/ Oil UP TO 69.31 dollars per barrel for WTI and BRENT UP TO 71.24 Stocks in Europe OPENED MOSTLY ALL RED
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP TRADING AT 7.1772 AND STRONGER//OFF SHORE YUAN TRADING UP TO 7.1779 AGAINST US DOLLAR/ AND THUS STRONGER
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS MONDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP TO 7.1672 (CHINESE COMMUNIST PARTY MANIPULATED)
OFFSHORE YUAN: UP TO 7.1679 (CCP MANIPULATED)
SHANGHAI CLOSED UP 9.47 PTS OR 0.27%
HANG SENG CLOSED UP 63.75 PTS OR 0.21%
2. Nikkei closed DOWN 110.06 PTS OR 0.28%
3. Europe stocks SO FAR: MOSTLY ALL RED
USA dollar INDEX UP TO 97.51/ EURO FALLS TO 1.1672 DOWN 14 BASIS PTS
3b Japan 10 YR bond yield: R1SES TO. +1.579//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 147.25…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: UP OFFSHORE: UP
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and UP FOR BRENT this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.7260/Italian 10 Yr bond yield UP to 3.612 SPAIN 10 YR BOND YIELD UP TO 3.337%
3i Greek 10 year bond yield UP TO 3.4320
3j Gold at $3369.05 Silver at: 38.99 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 17 /100 roubles/dollar; ROUBLE AT 78/12
3m oil (WTI) into the 69 dollar handle for WTI and 71 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 147.28// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.579% 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 0.7963 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9312 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: 4.425 UP 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.972 UP 2 BASIS PTS/
USA 2 YR BOND YIELD: 3.891 DOWN 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 40.21
10 YR UK BOND YIELD: 4.610 DOWN 2 PTS
10 YR CANADA BOND YIELD: 3.507 UP 2 BASIS PTS
5 YR CANADA BOND YIELD: 3.032 UP 1 PTS
2a New York OPENING REPORT
US Futures Drop, Europe Slides, Bitcoin Soars On Tariff Risks As CPI, Earnings Loom
Monday, Jul 14, 2025 – 08:11 AM
US equity futures are lower, although well off session lows, and European stocks slumped after Trump’s weekend threat to slap 30% tariffs on EU and Mexico, providing a test for markets that were recently at record highs. With global yields blowing out, as German and Japanese long-dated bonds slumped as traditional safe havens were ignored, amid the risk-off tone the only flight to safety today are cryptocurrencies and precious metals, with Bitcoin surging to a new record high of $122,000 while silver rose above $39 for the first time since 2011. As of 8:00am ET, S&P and Nasdaq futures are down 0.3% after Trump said the tariff rates will kick in on Aug. 1 if the EU and Mexico can’t negotiate better terms, and investors will need to make the call on whether he’s going to follow through this time, with Mag 7 names mostly lower premarket with NVDA/TSLA in the green. Semis are also under pressure and cyclicals and defensives are mixed, pointing to a choppy session. The Treasury yield curve is seeing a slight bear steepening while the USD is flat. Commodities are stronger across all 3 complexes with crude, nat gas and silver the standouts. A flurry of economic data is in focus this week, with CPI due on Tuesday and PPI on Wednesday plus the unofficial start to earnings season with all the big banks reporting.
In premarket trading, Mag 7 stocks are mixed (Tesla +2.7%, Nvidia +0.5%, Meta -0.2%, Alphabet -0.5%, Amazon -0.5%, Microsoft -0.5%, Apple -1%).
- Cryptocurrency-exposed stocks including Coinbase (COIN), Strategy (MSTR) and Galaxy Digital (GLXY) rise as Bitcoin extends its record-breaking rally.
- Intapp (INTA) falls 3.1% as Barclays cuts to underweight from equal-weight after trimming 2026 revenue estimates for the application software company.
- Boeing Co. and General Electric Co. edged higher after investigators said that they found no evidence so far that would require them to take action following last month’s Air India jetliner crash.
- Autodesk (ADSK) rises 6% after the software company said it is allocating its capital to organic investment, targeted and tuck-in acquisitions, and continuing its share repurchase program as its free cash flow grows.
- Intapp (INTA) falls 3% as Barclays cuts to underweight, trimming 2026 revenue estimates for the software services company.
- Kenvue Inc. (KVUE) rises 4% after the maker of Neutrogena and Listerine brands appointed director Kirk Perry as interim CEO effective immediately. The company also said it’s advancing an ongoing comprehensive review of strategic alternatives.
- Stitch Fix (SFIX) gains 7% after William Blair upgraded the personal styling company to outperform, positive on changes made at the company under CEO Matt Baer.
- Ultragenyx Pharmaceutical (RARE) falls 4% after the FDA rejected the company’s application for its gene therapy for a brain disorder, citing chemistry, manufacturing and controls issues. Analysts note the approval delay as disappointing.
- Waters Corp. (WAT) slips 5% after Waters and Becton’s Biosciences & Diagnostic Solutions business are set to combine in a Reverse Morris Trust transaction valued at about $17.5 billion.
In corporate news, Synopsys secured China’s approval to buy out Ansys for $35 billion, while Elon Musk said Tesla plans to poll shareholders on whether to invest in xAI. Nvidia CEO Jensen Huang said the US government doesn’t need to be concerned that the Chinese military will use his company’s products to improve their capabilities. Fastenal is set to report earnings before the market opens. Improved pricing, market share gains and stabilizing short-cycle industrial markets should support accelerated top-line and earnings growth, according to Bloomberg Intelligence. Jane Street has deposited 48.4 billion rupees ($564 million) in an escrow account to comply with an order from India’s securities regulator, part of an ongoing probe into allegations of market manipulation by the US trading giant. Partners Group is selling a large asset in its buyout portfolio to a consortium led by its own infrastructure division.
The week’s data will be key to rate-cut expectations and “could set the tone for the direction of the Fed and risk sentiment for the second half of the year,” according to CreditSights. Meanwhile, Trump seized upon a new way to criticize Jerome Powell’s leadership of the Fed: his handling of an expensive renovation of the central bank’s headquarters.
Elsewhere, RBC lifted its S&P 500 year-end target to 6,250 from 5,730, though remains neutral on stocks for the second half, expecting choppy conditions. As reported previously, Goldman strategists expect the S&P 500 to rise by 10% to 6,900 over the next 12 months, implying a P/E multiple on forward consensus earnings of 22 times.
Strategists are also getting worried about earnings. Wall Street is bracing for the weakest season since mid-2023, and are a key source of uncertainty for Goldman clients. Still, earnings revisions are showing a big dispersion between sectors, which creates an opportunity for stock picking, Morgan Stanley’s Michael Wilson said. Key themes include the impact of tariffs and a weaker dollar, and AI-related spending.
Trump’s weekend threat to impose 30% tariffs on the European Union and Mexico is testing market resilience, following a series of escalated trade measures against multiple partners. While traders largely view them as a bargaining tactic and expect final tariffs to be softer, the moves have injected uncertainty just as the S&P 500 was trading near record highs. Elsewhere, Bloomberg reported that the EU is preparing to step up its engagement with other countries hit by Trump’s tariffs following a slew of new threats to the bloc and other US trading partners. Thailand is weighing allowing zero-duty market access for more US goods to help persuade the Trump administration to lower a threatened 36% tariff on its exports.
“The market will generally think this is mostly a negotiation tactic,” noted Deutsche Bank AG strategist Jim Reid. “However, at some stage someone’s bluff could be called. If huge tariffs do get imposed on Aug. 1, in thin holiday markets, we could get a sizable market reaction.”
US inflation figures due on Tuesday is expected to show faster price growth as companies began passing on higher import costs. Alongside retail sales, industrial production and consumer sentiment figures later in the week, the data could test the Federal Reserve’s wait-and-see stance on interest rate cuts. Swaps are still pricing in nearly two quarter-point reductions this year, with a likelihood of around 60% for a first cut in September.
“It is important to note that investors are already pricing in rate cut expectations,” noted Linh Tran, market analyst at XS.com. “If the data points to stronger-than-expected inflationary pressures or a tight labor market, the Fed may be forced to delay rate cuts — potentially triggering a valuation shock for equity markets.”
Meanwhile, Trump again repeated his criticism of Fed Chair Jerome Powell late on Sunday, saying it would be a “good thing” if the central banker stepped down. Deutsche Bank strategist George Saravelos said the potential dismissal of Powell is a major and underpriced risk that could trigger a selloff in the US dollar and Treasuries.
In Europe, major markets are mostly lower with UK leading and Germany lagging after President Donald Trump dials up trade tensions by announcing a 30% tariff on goods from the European Union. Healthcare shares are among the biggest sector gainers, while technology and auto are the biggest laggards. In individual stocks, Hermes falls after Jefferies downgrades to hold after seeing a lack of major growth for the luxury goods maker. The UK’s FTSE 100 rose 0.3%, outperforming its European peers that have struggled after Trump threatened the EU with a 30% tariff rate. The Stoxx 50 falls 0.6%. UK equities also benefited from increased bets on interest rate cuts by the Bank of England after Governor Bailey hinted at bigger reductions if the jobs market deteriorates more quickly than the central bank expects. Bailey’s remarks also boosted gilts, most notably at the short-end. UK two-year yields fall 5 bps to 3.81%. Cable dips 0.1% The EU is said to contact other US allies that are tariff targets per BBG, flagging the potential for a coordinated response to the US. Momentum is leading, Cyclicals/Vol are lagging; Growth over Value. UKX +0.4%, SX5E -0.6%, SXXP -0.3%, DAX -0.7%. CSI +0.1%, HSI +0.3%, NKY -0.3%, ASX -0.1%, KOSPI +0.8%.
Earlier in the session, Asian stocks were mixed with China/HK leading and HSTECH was higher but remains in a 2.5 month-long range.
In FX, the Bloomberg Dollar Spot Index adds 0.1% while the yen is the strongest of the G-10 currencies, rising 0.1% against the greenback. The Swedish krona is the weakest with a 0.5% fall.
In rates, treasuries edged lower, with US 10-year yields rising 1 bp to 4.42%. The big overnight bond movers were in Japan and Germany…
- GERMAN 30-YEAR YIELD RISES 3BPS TO 3.254%, HIGHEST SINCE 2023
- *JAPAN 30-YEAR BOND YIELD RISES 10.5 BASIS POINTS TO 3.145%
… The yield on Japan’s long-term bonds moved sharply higher amid signs of thin liquidity and increasing worries about higher government spending that may spread to other countries. Regarding supply in the US, Treasury coupon auctions are on hiatus until 20-year bond reopening on July 23; investment-grade corporate new issue calendar is blank thus far but expected to feature big-bank offerings later in the week after 2Q results start being reported Tuesday
In commodities, oil prices advance, with WTI rising 1% and above $69 a barrel. Spot gold climbs $10 to around $3,365/oz. Bitcoin rises to another record above $122,000 as traders await “crypto week.”
Today’s US economic calendar is blank and no Fed speakers for Monday; ahead this week are June CPI, PPI and retail sales.
Market Snapshot
- S&P 500 mini -0.3%
- Nasdaq 100 mini -0.3%
- Russell 2000 mini -0.3%
- Stoxx Europe 600 -0.3%
- DAX -0.7%
- CAC 40 -0.4%
- 10-year Treasury yield +1 basis point at 4.42%
- VIX +1 points at 17.36
- Bloomberg Dollar Index little changed at 1200.07
- euro little changed at $1.1685
- WTI crude +0.8% at $69.01/barrel
Top Overnight News
- US President Trump sent trade letters to the EU and Mexico announcing 30% tariffs from August 1st which would be separate from sectoral tariffs.
- The US will send more Patriot air-defense batteries to Ukraine, Trump said, reversing his halt to new weapons deliveries since the start of his second term. He’s scheduled to meet NATO chief Mark Rutte later today. BBG
- White House insiders insist the tariffs will take effect on 8/1 without any further delays. Politico
- UK businesses are scaling back hiring for jobs set to be affected by AI, McKinsey analysis found. More broadly, UK hiring plunged at the fastest pace in almost two years last month, KPMG data showed. BBG
- The EU plans to step up engagement with other countries hit by the US levies, people familiar said, but paused countermeasures to allow more time for talks. BBG
- China’s biotech advance has been as ferocious as the nation’s breakthrough efforts in AI and EVs, eclipsing the EU and catching up to the US. The number of novel drugs in China – for cancer, weight loss and more – entering into development ballooned to over 1,250 last year, far surpassing the EU and nearly catching up to the US count of about 1,440. BBG
- Amazon’s Prime Day sale helped boost online spending across all US retailers by a larger-than-estimated 30.3% to $24.1 billion. BBG
- China’s exports grew at a faster clip in June, topping market expectations as trade tensions with the U.S. eased following a round of bilateral talks. June trade numbers came in ahead of expectations, including exports (+5.8% vs. the Street +5%) and imports (+1.1% vs. the Street +0.3%). WSJ
- The yield on Japan’s long-term bonds moved sharply higher amid signs of thin liquidity and increasing worries about higher government spending that may spread to other countries. BBG
- India’s wholesale prices for June undershot the consensus and fell into deflationary territory (they came in at -0.13% M/M vs. the Street +0.52%). BBG
Tariffs/Trade
- President Trump sent a trade letter to the EU announcing 30% tariffs from August 1st which would be separate from sectoral tariffs.
- Trump commented that the EU is talking to the US and wants to open up their countries.
- White House Economic Adviser Hassett said President Trump has seen some outlines of proposed trade deals and thinks they need to do better, while he added that these tariffs are real if Trump gets proposals that he doesn’t think are good enough.
- Trump said it would be a good thing if Fed Chair Powell quits and said that Powell should resign immediately, while he repeated criticism that Powell is too late.
- White House Economic Adviser Hassett said the Fed has a lot to answer for on renovation cost overruns and if there is cause to fire Fed Chair Powell, President Trump has the authority to do so.
- UK’s King Charles will host US President Trump for a state visit from September 17th to 19th.
- European Commission President von der Leyen said imposing 30% tariffs on EU exports would disrupt the essential transatlantic supply chains, while they remain ready to continue working towards an agreement by August 1st and will take all necessary steps to safeguard EU interests including the adoption of proportionate countermeasures if required. Furthermore, she said they will extend the suspension of their countermeasures to US tariffs until early August and noted they have always been clear that they prefer a negotiated solution with the US which remains the case.
- The EU is planning to “step up engagement” with other nations impacted by US President Trump’s tariffs, according to Bloomberg sources. Nations include Canada and Japan and could lead to potential coordination.
- French President Macron said France fully supports the European Commission in the negotiations and shares the same very strong disapproval of the announcement of horizontal tariffs of 30% on EU exports.
- German Chancellor Merz said US tariffs of 30% would hit the German export industry to the core and they want to use the time until August 1st, while he stated that tariff letters were also US negotiating positions.
- German Economy Minister Habeck said the EU must pragmatically negotiate a tariff solution with the US that focuses on the main points of conflict and stated that new US tariffs would hit European exporters hard. Habeck also commented that new US tariffs would have a strong impact on the economy and consumers in Europe and the US.
- German Finance Minister Klingbeil said Trump’s tariff policies threaten the US economy at least as much as European companies, as well as stated that the tariff conflict must end and nobody needs new threats or provocations. Furthermore, he said the EU needs to continue serious and targeted negotiations with the US but must take decisive countermeasures if a fair negotiated solution is not successful.
- German trade industry association said the newly announced tariffs are part of US President Trump’s negotiating strategy and Europe must not be impressed by Trump’s announcements but must seek a solution in talks on an equal footing.
- Italian Foreign Minister Tajani says if a deal is not attained with the US, then the EU has a list of tariffs prepared against US goods worth EUR 21bln. In the face of US tariffs, the ECB should consider a new QE programme and rate reductions.
- EU Trade commissioner Sefcovic says will speak with US counterparts later today; must prepare well-balanced countermeasures against the US. US tariff plan is prohibitive for mutual trade, approaching a good outcome for both sides.
- US President Trump sent a trade letter to Mexico announcing 30% tariffs from August 1st which would be separate from sectoral tariffs.
- Mexican President Sheinbaum believes they will reach an agreement with the US before tariffs go into effect on August 1st, while she stated that Mexico’s sovereignty is not negotiable It was also reported that Mexico’s Economy Ministry said Mexico is negotiating and the working group with the US will aim for an alternative before August 1st to protect companies and employees.
- Chinese Foreign Minister Wang said China and ASEAN agreed to submit a free trade zone pact in October for approval and signing, while they agreed on a five-year action plan with all-round cooperation in over 40 fields and will complete a consultation on the ‘code of conduct in the South China Sea’ within 2026.
- US President Trump said South Korea is seeking a trade deal.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were mostly positive but with some cautiousness seen following US President Trump’s latest tariff letters in which he announced to impose 30% tariffs on the EU and Mexico from August 1st, while the region also reflected on somewhat mixed Chinese trade data. ASX 200 was rangebound as gains in mining, resources and materials offset the weakness in the consumer, industrial, financial and tech sectors, while data showed imports missed estimates for Australia’s largest trading partner. Nikkei 225 initially retreated amid tariff uncertainty although the losses were gradually pared as sentiment overnight somewhat improved and Machinery Orders topped forecasts. Hang Seng and Shanghai Comp kept afloat amid the latest trade data in which exports topped forecasts and imports missed but returned to growth, while there were some encouraging comments from the meeting between US Secretary of State Rubio and Chinese Foreign Minister Wang last Friday which was described as constructive and with the odds said to be high for a future meeting between US President Trump and Chinese President Xi.
Top Asian News
- PBoC’s Deputy Governor Zou Lan says they will continue to implement appropriately loose monetary policy Will support efforts taken to attain the FY growth target. To better use various structural tools to provide support to key sectors. To improve the market-based rate regime. Increased bond holdings by small banks within regulatory permits are permitted and reasonable. Such investment should be kept at a small level.
- BoJ is likely to increase its inflation forecast for fiscal 2025 but maintain consumer inflation forecasts for fiscal 2026 and 2027, according to sources cited by Reuters.
- Japan and the EU are seeking to develop a joint satellite network, according to Nikkei.
European bourses (STOXX 600 -0.4%) have begun the week on the backfoot, after the US issued tariff letters to Mexico and the EU, threatening a 30% tariff rate, effective from August 1st. European sectors opened entirely in the red, though fare better now, with Healthcare and Basic Resources. The former boosted by upside in AstraZeneca (+1.4%) which benefits after its blood pressure related treatment met primary and secondary endpoints. Trade sensitive sectors such as Autos and Consumer Products sit at the foot of the pile. US equity futures (ES -0.3%, NQ -0.3%, RTY -0.4%) are moving in tandem with those in Europe. RTY is once again the underperformer, given the downbeat
Top European News
- Japan and the EU are seeking to develop a joint satellite network, according to Nikkei.
- UK Chancellor Reeves is to hail fiscal ‘stability’ and City risk-taking in her Mansion House speech on Tuesday and will insist she has a grip on the UK economy and will not let borrowing run out of control, according to FT. CityAM also reports that she is to leave cash Isas untouched.
- BoE Governor Bailey says the MPC is prepared to make larger rate reductions if the jobs market shows signs of a pronounced slowdown, according to The Times.
- Netherlands rationed electricity to ease power grid stresses as thousands of businesses and households waited to connect to the Dutch grid, while officials and companies said lengthy waits for connections were holding up economic growth and could force businesses to rethink their investment plans, according to FT.
- Fitch affirmed Germany at AAA; Outlook Stable.
- UBS expects the ECB to cut rates by 25bps in September (prev. saw 25bps cut in July).
FX
- DXY has kicked the week off on a steady footing following a solid showing last week. The macro narrative remains one dominated by the trade agenda after US President Trump sent trade letters to the EU and Mexico announcing 30% tariffs from August 1st. Despite some modest risk aversion this morning, the market remains of the view that eventual tariff rates will be notably below the currently proposed levels. DXY briefly made its way onto a 98 handle for the first time since 25th June with a current session high at 98.09.
- Despite a wobble in early European trade, the EUR has been resilient in the face of news that the US is to impose 30% tariffs on the EU from August 1st. Subsequently, EU Trade Commissioner Sefcovic says he will speak with US counterparts later today. However, he said the EU needs to prepare well-balanced countermeasures against the US.
- JPY is a touch firmer vs. the USD with the yen able to benefit from a very modest safe-haven bid and stronger-than-expected machinery order data. That being said, it is not lost on markets that a trade deal between the US and Japan does not appear to be close with Japanese negotiators looking to defend Japanese interests ahead of the Upper House elections due on July 20th. USD/JPY briefly made its way onto a 146 handle. However, the session low at 146.86 is some way off Friday’s trough at 146.13.
- GBP is slightly softer vs. the USD and flat vs the EUR. Sentiment for the GBP remains negative with weekend commentary from BoE Governor Bailey adding to the bearishness after stating that the MPC is prepared to make larger rate reductions if the jobs market shows signs of a pronounced slowdown. Cable has slipped below the 1.35 mark (coincides with the 50DMA), delving as low as 1.3452; lowest since 23rd June.
- Antipodeans are both are softer alongside the soft risk appetite amid ongoing trade uncertainty and as participants digested Chinese trade data. After last week’s RBA and RBNZ rate decisions, the sole scheduled highlight for the antipodes comes via Thursday’s labour market metrics.
- PBoC set USD/CNY mid-point at 7.1491 vs exp. 7.1744 (Prev. 7.1475)
Fixed Income
- USTs are contained. The bias from JGBs was a softer one after better-than-expected Machinery Orders data. USTs themselves in a thin 110-23+ to 110-28 band, entirely within but towards the trough of Friday’s 110-22+ to 111-08 range. Newsflow has been focussed almost entirely on trade, after Trump delivered his EU letter, with European officials since indicating a desire to work towards a better outcome but outlining that countermeasures are being prepared. The relatively muted nature of moves thus far indicates that markets do not see the 30% tariff level as the likely end point and instead regard it as a negotiating tactic.
- Bunds opened higher by just under 10 ticks at 129.26 before meandering in a thin range and extending to a 129.41 peak at 07:00BST, no specific newsflow at the time and the move seemingly a function of the usual early-morning increase in activity. The jump of around 20 ticks over three minutes has since pared entirely with Bunds now back to Friday’s 129.17 close and essentially flat in a 129.11 to 129.41 band.
- Gilts opened a touch higher and then extended to a 91.85 peak, posting gains of around 15 ticks at best. Since, in-fitting with EGBs, the benchmark has pared from that high and is now essentially unchanged on the session in a 91.56-85 band. As has been the case recently, the UK is someone protected from direct trade updates owing to its deal with the US. However, newsflow is just as pronounced as the fiscal situation dominates domestically. Ahead, UK Chancellor Reeves is to speak.
Commodities
- WTI and Brent and currently trading higher by around USD 0.70/bbl and are just off session highs. Overnight, the complex traded with little direction given the lack of energy-specific newsflow and as geopolitical updates remained light. Brent Sept’25 currently trades towards the upper end of a USD 70.35-71.29/bbl range. The pick-up in the complex today stemmed from commentary via an Iranian Foreign Ministry spokesperson who highlighted that Tehran will respond to the return of UN sanctions after the snapback mechanism. Focus now turns to a “major statement” on Russia from US President Trump.
- Precious metals are firmer with some outperformance in spot silver, which continues to build on recent upside; XAG currently trading around USD 38.96/oz, briefly topping a 14-year high at USD 39/oz. Spot gold is a little firmer today, initially gapping higher at the open amid the risk deterioration sparked by the US letters to the EU. The yellow-metal currently trades in a USD 3,354.11-3,374.65/oz range.
- Base metals hold a negative bias, as traders digest the latest Chinese trade data which were mixed; exports beat expectations whilst imports continue to be dragged down by weaker commodities demand. 3M LME Copper is modestly lower and trades towards the lower end of a USD 9,623.8-9,703.6/t range.
- Iraq set August Basrah Medium Crude official selling price to Asia at plus USD 1.35/bbl vs Oman/Dubai, while it set OSP to Europe at minus USD 0.55 vs Dated Brent and set the OSP to North and South America at minus USD 1.15 vs ASCI.
- Australia’s PM Albanese said they need to work together with China to address global excess steel capacity.
Geopolitics: Middle East
- Iran Foreign Ministry spokesperson says Tehran will respond to the return of UN sanctions after snapback mechanism. No date or location for US/Iran nuclear talks. Will not restart US talks unless we are certain they will work.
- Israeli official said talks in Doha are ongoing with Hamas for a ceasefire and hostage deal but noted Hamas is sticking to positions that do not allow mediators to advance an agreement.
- US envoy to the Middle East Witkoff said he is hopeful on Gaza ceasefire negotiations and was said to meet senior Qataris in New Jersey on Sunday.
- Iranian Foreign Minister Araghchi said they are carefully assessing options for talks with the US.
Geopolitics: Ukraine
- US President Trump is considering greenlighting new funding for Ukraine to send a message to Russia, according to CBS. It was separately reported that President Trump is to announce an “aggressive” Ukraine weapons plan on Monday to arm Ukraine which is expected to include offensive weapons, according to Axios.
- EU envoys are nearing an agreement on lower Russian oil price cap, according to Reuters.
- Ukraine’s SBU intelligence agency accused Russia’s FSB of being behind the murder of an SBU Colonel in Kyiv last week and said agents responsible for the murder were killed during an operation to apprehend them.
- IAEA team at Ukraine’s Zaporizhzhia nuclear plant reported hearing hundreds of rounds of small arms fire on Saturday night.
- Russia’s Defence Ministry said Russian forces took control of Myrne and Mykolaivka in eastern Ukraine.
- North Korean leader Kim reaffirmed unconditional support for Moscow’s actions in the Ukraine war during a meeting with Russian Foreign Minister Lavrov, while North Korea and Russia pledged cooperation to safeguard each other’s territorial integrity. Furthermore, Russia expressed firm opposition to any attempt to undermine North Korea’s national security and sovereignty, while it was also stated that Moscow wants to further strengthen the strategic partnership.
- Ukrainian President Zelensky’s Chief of staff says US Special Envoy Kellogg has arrived in Kyiv to discuss security and sanctions against Russia.
- Russian President Putin’s envoy Dmitriyev says Russia-US dialogue will continue.
- Russia’s Kremlin says it is obvious Ukraine is not in a hurry on peace negotiations, “we await timing of third round of talks”.
Geopolitics: Other
- North Korea warned it stands ready to take military action against threats from the US, Japan and South Korea following recent joint air drills involving a strategic US bomber, according to KCNA.
US Event Calendar
- Nothing scheduled
DB’s Jim Reid concludes the overnight wrap
Today ranks high on my list of least favourite days of the year. It’s our annual family trip to a theme park—strategically timed after our kids finish school but before some others break up, meaning shorter queues and more rollercoaster rides. I couldn’t be more thrilled.
Technically, I’m off today, but if you email me—even with something trivial—I’ll treat it as an emergency if I happen to be stuck in a queue and need an excuse to escape.
To use the biggest cliche in the book, it continues to be a rollercoaster ride for all of us following the trade story, even if the market has increasingly overcome its queasiness and ensured it has been well stocked up on motion sickness tablets.
As trade letters from the US continue to get mailed out, April 2nd has become July 9th which has become August 1st for an ever increasing list of countries. In the early hours of Saturday Mr Trump’s stationary cupboard was opened again and a letter was sent to the EU and Mexico informing them that they would face 30% tariffs on August 1st. To be fair, a month ago Trump threaten the EU with a 50% tariff so you might argue this is an improvement! The market will generally think this is mostly a negotiating tactic and that we’re unlikely to see such rates. The EU have been measured in their response so far and have extended the suspension of trade countermeasures that were supposed to kick-in tomorrow night. This will now be aligned to the August 1st deadline. So the EU and the market are hoping and expecting diplomacy to win out.
However at some stage, someone’s bluff could be called. Trump is under less pressure to back down with US risk markets around their highs and bond markets relatively stable at the moment. If huge tariffs do get imposed on August 1st, in thin holiday markets, we could get a sizeable market reaction. So the next three weeks of negotiating will be key to restful holidays everywhere.
If you’re looking for the ultimate way our holidays could be ruined then DB’s George Saravelos put out a thought provoking piece on Friday looking at what might happen if Trump finds a legal reason to dismiss Fed Chair Powell for cause. This is based on the story around whether he misrepresented facts to Congress around renovations at the Fed HQ. See it here. Basically it is likely that this would lead to a sizeable initial sell-off that could be calmed by the other governors forcibly reiterating Fed independence. However much might depend on the inflation trajectory. If all is calm on this front then we could move on but if we start to see slippage here, then a removal of a Fed Chair could be a big problem, at least initially, for a country with huge twin deficits.
Given the above, this week is important as we see the latest US CPI numbers (tomorrow) with PPI (Wednesday) following. Before we preview these, the other key global releases are the other CPI numbers in Canada (also tomorrow), the UK (Wednesday) and Japan (Friday). In the US, there will also be retail sales (Thursday) and industrial production (Wednesday) reports for June, along with the preliminary University of Michigan survey (Friday) for July. Claims on Thursday corresponds to payroll survey week so it’ll be interesting to see whether the recent improvements continue given the payroll implications. Growth will also be in focus in China, where Q2 GDP and June activity data are out tomorrow. Also important will be the US banks kicking off the Q2 earnings season tomorrow, with semiconductor firms ASML and TSMC also reporting this week.
Lets now delve into the main upcoming US data, especially the inflation numbers. In our US economists’ preview (see “Webinar: June CPI preview & webinar registration“), they expect a +0.9% increase in seasonally adjusted gas prices and solid food inflation to boost the headline CPI (+0.34% forecast vs. +0.08% previous) slightly above that of core (+0.32% vs. +0.13%) which would increase the year-over-year growth rate by three- and two-tenths respectively (to 2.7% and 3.0%), and the three- and six-month annualised rates by 1.1 percentage points (to 2.8%) and three-tenths (to 2.9%), respectively. Our economists will be looking mostly at signs of tariff related inflation in the core good categories. Wednesday’s PPI data will also be important for the categories that feed through into core PCE, the Fed’s preferred inflation gauge.
Fed speak will be active after the CPI numbers with a host of appearances so there could be plenty of reaction to the data. See those listed in the day-by-day calendar at the end alongside all the other key events from around the world this week. This includes a G20 finance ministers and central bank governors meeting on Thursday and Friday.
On the start of Q2 earnings, JPMorgan, Wells Fargo and Citi kick off the Q2 earnings season tomorrow. Bank of America, Morgan Stanley and Goldman Sachs will follow on Wednesday. Blackrock, American Express and Charles Schwab will also be among financials reporting. Investors will also focus on messages from results of semiconductor firms ASML (Wednesday) and TSMC (Thursday), with the Philadelphia Semiconductor index now up 15.2% YTD. Other S&P 500 companies reporting this week will include Johnson & Johnson, Netflix, General Electric and PepsiCo. In Europe, notable names include Novartis, Volvo, Sandvik and Saab.
In Asia Europe’s stock futures are down around -0.6% after the weekend letter with S&P and NASDAQ futures down around -0.4% so far this morning. The Euro has barely moved. 10yr UST yields are +1bp but 10 and 30yr JGBs are around +5.5bps and +6.5bps higher as fiscal fears dominate ahead of this coming Sunday’s Upper House election.
Asian equity markets are actually mostly higher on balance with the KOSPI (+0.64%) continuing its strong gains from the past week, on sustained strength in technology and chipmaking stocks. Chinese stocks are also edging higher with the CSI (+0.20%), the Shanghai Composite (+0.40%) and the Hang Seng (+0.10%) all trading up on strong trade data (more below). On the other hand, the Nikkei is flat on trade worries and higher yields.
Coming back to China, exports regained some momentum in June while imports rebounded, as exporters rushed out shipments to capitalise on a fragile tariff truce between Beijing and Washington ahead of a looming August deadline. Exports rose +5.8% y/y in June (v/s +4.8% in May), beating the market forecast for +5.0% growth. Imports rebounded +1.1% y/y, following a -3.4% decline in May. Markets were expecting a +0.3% rise.
Recapping last week now and tariffs were the dominant story, as President Trump announced the rates that countries would face from August 1. Markets were initially calm, and several indices including the S&P 500 and the German DAX hit a record high. But after more aggressive measures were announced, including a 35% rate for Canada and the potential for a higher baseline tariff, there was a risk-off move into the weekend that left the S&P 500 -0.31% lower for the week (-0.33% Friday). Moreover, several assets impacted heavily by the tariffs witnessed a major underperformance. For instance, Trump announced a 50% rate for Brazil, which was well above the 10% from Liberation Day, and the country’s Ibovespa equity index suffered its worst week since December 2022, with a -3.59% loss (-0.41% Friday). In the opposite direction, the prospect of a 50% copper tariff meant US copper futures surged +9.12% (+0.25% Friday) in their biggest weekly jump since March 2022.
All this meant that US equities struggled towards the weekend. But it wasn’t all bad news, as the Magnificent 7 advanced +0.58% (+0.38% Friday) to its highest since January, with Nvidia’s market capitalisation surpassing $4tn. And in Europe, the Stoxx 600 finished the week up +1.15% (-1.01% on Friday), alongside a +1.97% gain for the DAX (-0.82% Friday). However, there was some weakness in Japan, where the Nikkei fell -0.61% (-0.19% Friday), along with emerging markets, with the MSCI EM index down -0.20% (-0.17% Friday).
Otherwise, government bonds struggled last week as concern mounted about the fiscal situation. Moreover, better-than-expected US data also contributed to the selloff, as investors dialled back the likelihood of rapid rate cuts this year. Indeed, the US weekly initial jobless claims fell for a 4th consecutive week to 227k. So that helped to ease fears about the labour market, particularly given the 4-week moving average for claims had reached a 21-month high in mid-June. In light of all that, Treasury yields posted a fresh increase, with the 10yr yield up +6.4bps (+6.0bps Friday) to 4.41%, whilst the 30yr yield was up +8.8bps (+8.0bps Friday) to 4.95%. That also came amidst mounting political pressure on the Fed, as President Trump said that “Our Fed Rate is AT LEAST 3 Points too high.”
Finally in Europe, last week saw an even larger increase in yields that pushed several up to multi-year highs. For instance, 10yr bunds were up +11.7bps to 2.72%, their highest level since late-March. In addition, the 30yr German yield ended the week at 3.22%, marking its highest closing level since the Euro crisis turmoil in 2011. That was echoed in France as well, as their 30yr yield hit a post-2011 high of 4.20%, having risen +14.7bps last week.
2b European opening report
ES -0.3%, FX and Fixed markets contained after Trump announced 30% tariff on EU and Mexico – Newsquawk US Market Open
Monday, Jul 14, 2025 – 05:54 AM
- US President Trump sent trade letters to the EU and Mexico announcing 30% tariffs from August 1st (separate from sectoral tariffs).
- The EU is planning to “step up engagement” with other nations impacted by US President Trump’s tariffs, according to Bloomberg sources.
- European bourses hampered by US-EU trade developments, US futures also in the red but off worst levels.
- FX & Fixed markets contained as traders continue to look through Trump tariff threats.
- Crude modestly boosted by Iran comments, XAU helped by tariff updates.
- Looking ahead, US President Trump’s Comments on Russia, ECB’s Cipollone.
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TARIFFS/TRADE
- US President Trump sent trade letters to the EU and Mexico announcing 30% tariffs from August 1st which would be separate from sectoral tariffs.
EU
- US President Trump sent a trade letter to the EU announcing 30% tariffs from August 1st which would be separate from sectoral tariffs.
- US President Trump commented that the EU is talking to the US and wants to open up their countries.
- White House Economic Adviser Hassett said President Trump has seen some outlines of proposed trade deals and thinks they need to do better, while he added that these tariffs are real if Trump gets proposals that he doesn’t think are good enough.
- European Commission President von der Leyen said imposing 30% tariffs on EU exports would disrupt the essential transatlantic supply chains, while they remain ready to continue working towards an agreement by August 1st and will take all necessary steps to safeguard EU interests including the adoption of proportionate countermeasures if required. Furthermore, she said they will extend the suspension of their countermeasures to US tariffs until early August and noted they have always been clear that they prefer a negotiated solution with the US which remains the case.
- The EU is planning to “step up engagement” with other nations impacted by US President Trump’s tariffs, according to Bloomberg sources. Nations include Canada and Japan and could lead to potential coordination.
- French President Macron said France fully supports the European Commission in the negotiations and shares the same very strong disapproval of the announcement of horizontal tariffs of 30% on EU exports.
- German Chancellor Merz said US tariffs of 30% would hit the German export industry to the core and they want to use the time until August 1st, while he stated that tariff letters were also US negotiating positions.
- German Economy Minister Habeck said the EU must pragmatically negotiate a tariff solution with the US that focuses on the main points of conflict and stated that new US tariffs would hit European exporters hard. Habeck also commented that new US tariffs would have a strong impact on the economy and consumers in Europe and the US.
- German Finance Minister Klingbeil said Trump’s tariff policies threaten the US economy at least as much as European companies, as well as stated that the tariff conflict must end and nobody needs new threats or provocations. Furthermore, he said the EU needs to continue serious and targeted negotiations with the US but must take decisive countermeasures if a fair negotiated solution is not successful.
- German trade industry association said the newly announced tariffs are part of US President Trump’s negotiating strategy and Europe must not be impressed by Trump’s announcements but must seek a solution in talks on an equal footing.
- Italian Foreign Minister Tajani says if a deal is not attained with the US, then the EU has a list of tariffs prepared against US goods worth EUR 21bln. In the face of US tariffs, the ECB should consider a new QE programme and rate reductions.
- EU Trade commissioner Sefcovic says will speak with US counterparts later today; must prepare well-balanced countermeasures against the US. US tariff plan is prohibitive for mutual trade, approaching a good outcome for both sides.
MEXICO
- US President Trump sent a trade letter to Mexico announcing 30% tariffs from August 1st which would be separate from sectoral tariffs.
- Mexican President Sheinbaum believes they will reach an agreement with the US before tariffs go into effect on August 1st, while she stated that Mexico’s sovereignty is not negotiable It was also reported that Mexico’s Economy Ministry said Mexico is negotiating and the working group with the US will aim for an alternative before August 1st to protect companies and employees.
OTHER
- Chinese Foreign Minister Wang said China and ASEAN agreed to submit a free trade zone pact in October for approval and signing, while they agreed on a five-year action plan with all-round cooperation in over 40 fields and will complete a consultation on the ‘code of conduct in the South China Sea’ within 2026.
- US President Trump said South Korea is seeking a trade deal.
EUROPEAN TRADE
EQUITIES
- European bourses (STOXX 600 -0.4%) have begun the week on the backfoot, after the US issued tariff letters to Mexico and the EU, threatening a 30% tariff rate, effective from August 1st.
- European sectors opened entirely in the red, though fare better now, with Healthcare and Basic Resources. The former boosted by upside in AstraZeneca (+1.4%) which benefits after its blood pressure related treatment met primary and secondary endpoints. Trade sensitive sectors such as Autos and Consumer Products sit at the foot of the pile.
- US equity futures (ES -0.3%, NQ -0.3%, RTY -0.4%) are moving in tandem with those in Europe. RTY is once again the underperformer, given the downbeat risk environment. We are off worst levels in the US, helped by earlier dollar strength which has since waned.
- Click for the sessions European pre-market equity newsflow
- Click for the additional news
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FX
- DXY has kicked the week off on a steady footing following a solid showing last week. The macro narrative remains one dominated by the trade agenda after US President Trump sent trade letters to the EU and Mexico announcing 30% tariffs from August 1st. Despite some modest risk aversion this morning, the market remains of the view that eventual tariff rates will be notably below the currently proposed levels. DXY briefly made its way onto a 98 handle for the first time since 25th June with a current session high at 98.09.
- Despite a wobble in early European trade, the EUR has been resilient in the face of news that the US is to impose 30% tariffs on the EU from August 1st. Subsequently, EU Trade Commissioner Sefcovic says he will speak with US counterparts later today. However, he said the EU needs to prepare well-balanced countermeasures against the US.
- JPY is a touch firmer vs. the USD with the yen able to benefit from a very modest safe-haven bid and stronger-than-expected machinery order data. That being said, it is not lost on markets that a trade deal between the US and Japan does not appear to be close with Japanese negotiators looking to defend Japanese interests ahead of the Upper House elections due on July 20th. USD/JPY briefly made its way onto a 146 handle. However, the session low at 146.86 is some way off Friday’s trough at 146.13.
- GBP is slightly softer vs. the USD and flat vs the EUR. Sentiment for the GBP remains negative with weekend commentary from BoE Governor Bailey adding to the bearishness after stating that the MPC is prepared to make larger rate reductions if the jobs market shows signs of a pronounced slowdown. Cable has slipped below the 1.35 mark (coincides with the 50DMA), delving as low as 1.3452; lowest since 23rd June.
- Antipodeans are both are softer alongside the soft risk appetite amid ongoing trade uncertainty and as participants digested Chinese trade data. After last week’s RBA and RBNZ rate decisions, the sole scheduled highlight for the antipodes comes via Thursday’s labour market metrics.
- PBoC set USD/CNY mid-point at 7.1491 vs exp. 7.1744 (Prev. 7.1475)
- Click for a detailed summary
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FIXED INCOME
- USTs are contained. The bias from JGBs was a softer one after better-than-expected Machinery Orders data. USTs themselves in a thin 110-23+ to 110-28 band, entirely within but towards the trough of Friday’s 110-22+ to 111-08 range. Newsflow has been focussed almost entirely on trade, after Trump delivered his EU letter, with European officials since indicating a desire to work towards a better outcome but outlining that countermeasures are being prepared. The relatively muted nature of moves thus far indicates that markets do not see the 30% tariff level as the likely end point and instead regard it as a negotiating tactic.
- Bunds opened higher by just under 10 ticks at 129.26 before meandering in a thin range and extending to a 129.41 peak at 07:00BST, no specific newsflow at the time and the move seemingly a function of the usual early-morning increase in activity. The jump of around 20 ticks over three minutes has since pared entirely with Bunds now back to Friday’s 129.17 close and essentially flat in a 129.11 to 129.41 band.
- Gilts opened a touch higher and then extended to a 91.85 peak, posting gains of around 15 ticks at best. Since, in-fitting with EGBs, the benchmark has pared from that high and is now essentially unchanged on the session in a 91.56-85 band. As has been the case recently, the UK is someone protected from direct trade updates owing to its deal with the US. However, newsflow is just as pronounced as the fiscal situation dominates domestically. Ahead, UK Chancellor Reeves is to speak.
- Click for a detailed summary
COMMODITIES
- WTI and Brent and currently trading higher by around USD 0.70/bbl and are just off session highs. Overnight, the complex traded with little direction given the lack of energy-specific newsflow and as geopolitical updates remained light. Brent Sept’25 currently trades towards the upper end of a USD 70.35-71.29/bbl range. The pick-up in the complex today stemmed from commentary via an Iranian Foreign Ministry spokesperson who highlighted that Tehran will respond to the return of UN sanctions after the snapback mechanism. Focus now turns to a “major statement” on Russia from US President Trump.
- Precious metals are firmer with some outperformance in spot silver, which continues to build on recent upside; XAG currently trading around USD 38.96/oz, briefly topping a 14-year high at USD 39/oz. Spot gold is a little firmer today, initially gapping higher at the open amid the risk deterioration sparked by the US letters to the EU. The yellow-metal currently trades in a USD 3,354.11-3,374.65/oz range.
- Base metals hold a negative bias, as traders digest the latest Chinese trade data which were mixed; exports beat expectations whilst imports continue to be dragged down by weaker commodities demand. 3M LME Copper is modestly lower and trades towards the lower end of a USD 9,623.8-9,703.6/t range.
- Iraq set August Basrah Medium Crude official selling price to Asia at plus USD 1.35/bbl vs Oman/Dubai, while it set OSP to Europe at minus USD 0.55 vs Dated Brent and set the OSP to North and South America at minus USD 1.15 vs ASCI.
- Australia’s PM Albanese said they need to work together with China to address global excess steel capacity.
- Click for a detailed summary
NOTABLE DATA RECAP
- Swiss Producer/Import Price MM (Jun) -0.1% (Prev. -0.5%); Producer/Import Price YY (Jun) -0.7% (Prev. -0.7%)
NOTABLE EUROPEAN HEADLINES
- Japan and the EU are seeking to develop a joint satellite network, according to Nikkei.
- UK Chancellor Reeves is to hail fiscal ‘stability’ and City risk-taking in her Mansion House speech on Tuesday and will insist she has a grip on the UK economy and will not let borrowing run out of control, according to FT. CityAM also reports that she is to leave cash Isas untouched.
- BoE Governor Bailey says the MPC is prepared to make larger rate reductions if the jobs market shows signs of a pronounced slowdown, according to The Times.
- Netherlands rationed electricity to ease power grid stresses as thousands of businesses and households waited to connect to the Dutch grid, while officials and companies said lengthy waits for connections were holding up economic growth and could force businesses to rethink their investment plans, according to FT.
- Fitch affirmed Germany at AAA; Outlook Stable.
- UBS expects the ECB to cut rates by 25bps in September (prev. saw 25bps cut in July).
NOTABLE US HEADLINES
- US President Trump said to be directly involved in the USD 9.4bln rescissions measure, according to Semafor sources. “Senators are also bracing for him to erupt if the federal cuts fail, and the White House does not want the Senate to amend the package”, a senior administration official told Semafor
- US President Trump said it would be a good thing if Fed Chair Powell quits and said that Powell should resign immediately, while he repeated criticism that Powell is too late.
- White House Economic Adviser Hassett said the Fed has a lot to answer for on renovation cost overruns and if there is cause to fire Fed Chair Powell, President Trump has the authority to do so.
- UK’s King Charles will host US President Trump for a state visit from September 17th to 19th.
- NVIDIA (NVDA) CEO Jensen Huang is to hold a media briefing in Beijing on July 16th.
GEOPOLITICS
MIDDLE EAST
- Iran Foreign Ministry spokesperson says Tehran will respond to the return of UN sanctions after snapback mechanism. No date or location for US/Iran nuclear talks. Will not restart US talks unless we are certain they will work.
- Israeli official said talks in Doha are ongoing with Hamas for a ceasefire and hostage deal but noted Hamas is sticking to positions that do not allow mediators to advance an agreement.
- US envoy to the Middle East Witkoff said he is hopeful on Gaza ceasefire negotiations and was said to meet senior Qataris in New Jersey on Sunday.
- Iranian Foreign Minister Araghchi said they are carefully assessing options for talks with the US.
RUSSIA-UKRAINE
- US President Trump is considering greenlighting new funding for Ukraine to send a message to Russia, according to CBS. It was separately reported that President Trump is to announce an “aggressive” Ukraine weapons plan on Monday to arm Ukraine which is expected to include offensive weapons, according to Axios.
- EU envoys are nearing an agreement on lower Russian oil price cap, according to Reuters.
- Ukraine’s SBU intelligence agency accused Russia’s FSB of being behind the murder of an SBU Colonel in Kyiv last week and said agents responsible for the murder were killed during an operation to apprehend them.
- IAEA team at Ukraine’s Zaporizhzhia nuclear plant reported hearing hundreds of rounds of small arms fire on Saturday night.
- Russia’s Defence Ministry said Russian forces took control of Myrne and Mykolaivka in eastern Ukraine.
- North Korean leader Kim reaffirmed unconditional support for Moscow’s actions in the Ukraine war during a meeting with Russian Foreign Minister Lavrov, while North Korea and Russia pledged cooperation to safeguard each other’s territorial integrity. Furthermore, Russia expressed firm opposition to any attempt to undermine North Korea’s national security and sovereignty, while it was also stated that Moscow wants to further strengthen the strategic partnership.
- Ukrainian President Zelensky’s Chief of staff says US Special Envoy Kellogg has arrived in Kyiv to discuss security and sanctions against Russia.
- Russian President Putin’s envoy Dmitriyev says Russia-US dialogue will continue.
- Russia’s Kremlin says it is obvious Ukraine is not in a hurry on peace negotiations, “we await timing of third round of talks”.
OTHER
- North Korea warned it stands ready to take military action against threats from the US, Japan and South Korea following recent joint air drills involving a strategic US bomber, according to KCNA.
CRYPTO
- Bitcoin soars past USD 120k and sits a bit above USD 122k, as traders await “crypto week”.
APAC TRADE
- APAC stocks were mostly positive but with some cautiousness seen following US President Trump’s latest tariff letters in which he announced to impose 30% tariffs on the EU and Mexico from August 1st, while the region also reflected on somewhat mixed Chinese trade data.
- ASX 200 was rangebound as gains in mining, resources and materials offset the weakness in the consumer, industrial, financial and tech sectors, while data showed imports missed estimates for Australia’s largest trading partner.
- Nikkei 225 initially retreated amid tariff uncertainty although the losses were gradually pared as sentiment overnight somewhat improved and Machinery Orders topped forecasts.
- Hang Seng and Shanghai Comp kept afloat amid the latest trade data in which exports topped forecasts and imports missed but returned to growth, while there were some encouraging comments from the meeting between US Secretary of State Rubio and Chinese Foreign Minister Wang last Friday which was described as constructive and with the odds said to be high for a future meeting between US President Trump and Chinese President Xi.
NOTABLE ASIA-PAC HEADLINES
- PBoC’s Deputy Governor Zou Lan says they will continue to implement appropriately loose monetary policy Will support efforts taken to attain the FY growth target. To better use various structural tools to provide support to key sectors. To improve the market-based rate regime. Increased bond holdings by small banks within regulatory permits are permitted and reasonable. Such investment should be kept at a small level.
- BoJ is likely to increase its inflation forecast for fiscal 2025 but maintain consumer inflation forecasts for fiscal 2026 and 2027, according to sources cited by Reuters.
- Japan and the EU are seeking to develop a joint satellite network, according to Nikkei.
DATA RECAP
- Chinese Trade Balance (USD)(Jun) 114.8B vs. Exp. 109.0B (Prev. 103.2B)
- Chinese Exports YY (USD)(Jun) 5.8% vs. Exp. 5.0% (Prev. 4.8%); Imports YY (USD)(Jun) 1.1% vs. Exp. 1.3% (Prev. -3.4%)
- Chinese Trade Balance (CNY)(Jun) 826.0B (Prev. 743.6B)
- Chinese Exports YY (CNY)(Jun) 7.2% (Prev. 6.3%); Imports YY (CNY)(Jun) 2.3% (Prev. -2.1%)
- Japanese Machinery Orders MM (May) -0.6% vs. Exp. -1.5% (Prev. -9.1%); YY (May) 4.4% vs. Exp. 3.4% (Prev. 6.6%)
- Singapore GDP QQ (Q2 A) 1.4% vs Exp. 0.6% (Prev. -2.6%); YY (Q2 A) 4.3% vs Exp. 3.5% (Prev. 3.9%)
2c Asian opening report
DXY firm, stocks a touch lower after Trump announced 30% tariff on EU and Mexico – Newsquawk Europe Market Open
Monday, Jul 14, 2025 – 01:12 AM
- US President Trump sent trade letters to the EU and Mexico announcing 30% tariffs from August 1st (separate from sectoral tariffs).
- The EU is planning to “step up engagement” with other nations impacted by US President Trump’s tariffs, according to Bloomberg sources.
- APAC stocks were mostly positive but with some cautiousness seen following US President Trump’s tariff letters, while the region also reflected on mixed Chinese trade data.
- European equity futures indicate a lower cash market open with Euro Stoxx 50 future down 0.6% after the cash market closed with losses of 1.0% on Friday.
- DXY is marginally firmer, EUR/USD is only slightly softer despite Trump’s tariff announcement, other majors are contained.
- Looking ahead, highlights include US President Trump’s Comments on Russia, ECB’s Cipollone, supply from the EU.
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 finished in the red on Friday but well off their intraday lows as attention remained on the recent tariff-related updates and as participants awaited Trump’s tariff letter to the EU, while the inflationary fear aspect of higher tariffs pressured T-notes which were sold across the curve and yields bear steepened.
- SPX -0.33% at 6,260, NDX -0.21% at 22,781, DJI -0.63% at 44,372, RUT -1.26% at 2,235.
- Click here for a detailed summary.
TARIFFS/TRADE
- US President Trump sent trade letters to the EU and Mexico announcing 30% tariffs from August 1st which would be separate from sectoral tariffs.
- US President Trump commented that the EU is talking to the US and wants to open up their countries, while he added that South Korea is seeking a trade deal.
- White House Economic Adviser Hassett said President Trump has seen some outlines of proposed trade deals and thinks they need to do better, while he added that these tariffs are real if Trump gets proposals that he doesn’t think are good enough.
- Mexican President Sheinbaum believes they will reach an agreement with the US before tariffs go into effect on August 1st, while she stated that Mexico’s sovereignty is not negotiable It was also reported that Mexico’s Economy Ministry said Mexico is negotiating and the working group with the US will aim for an alternative before August 1st to protect companies and employees.
- European Commission President von der Leyen said imposing 30% tariffs on EU exports would disrupt the essential transatlantic supply chains, while they remain ready to continue working towards an agreement by August 1st and will take all necessary steps to safeguard EU interests including the adoption of proportionate countermeasures if required. Furthermore, she said they will extend the suspension of their countermeasures to US tariffs until early August and noted they have always been clear that they prefer a negotiated solution with the US which remains the case.
- The EU is planning to “step up engagement” with other nations impacted by US President Trump’s tariffs, according to Bloomberg sources. Nations include Canada and Japan and could lead to potential coordination.
- French President Macron said France fully supports the European Commission in the negotiations and shares the same very strong disapproval of the announcement of horizontal tariffs of 30% on EU exports.
- German Chancellor Merz said US tariffs of 30% would hit the German export industry to the core and they want to use the time until August 1st, while he stated that tariff letters were also US negotiating positions.
- German Economy Minister Habeck said the EU must pragmatically negotiate a tariff solution with the US that focuses on the main points of conflict and stated that new US tariffs would hit European exporters hard. Habeck also commented that new US tariffs would have a strong impact on the economy and consumers in Europe and the US.
- German Finance Minister Klingbeil said Trump’s tariff policies threaten the US economy at least as much as European companies, as well as stated that the tariff conflict must end and nobody needs new threats or provocations. Furthermore, he said the EU needs to continue serious and targeted negotiations with the US but must take decisive countermeasures if a fair negotiated solution is not successful.
- German trade industry association said the newly announced tariffs are part of US President Trump’s negotiating strategy and Europe must not be impressed by Trump’s announcements but must seek a solution in talks on an equal footing.
- Italian Foreign Minister Tajani says if a deal is not attained with the US, then the EU has a list of tariffs prepared against US goods worth EUR 21blnIn the face of US tariffs, the ECB should consider a new QE programme and rate reductions.
- European Commission was reported on Friday to have dropped plans to levy a tax on digital companies, a move that hands victory to US President Trump and US tech giants like Apple (AAPL) and Meta (META), according to Politico.
- EU was reported on Friday to plan a new tax on big companies to boost the EU budget in which an annual charge would hit groups with a net turnover of EUR 50mln or more, according to a leaked European Commission proposal cited by FT.
- Chinese Foreign Minister Wang said China and ASEAN agreed to submit a free trade zone pact in October for approval and signing, while they agreed on a five-year action plan with all-round cooperation in over 40 fields and will complete a consultation on the ‘code of conduct in the South China Sea’ within 2026.
NOTABLE HEADLINES
- Fed’s Goolsbee (2025 voter) said on Friday that the latest tariff threats could delay rate cuts and could spark fresh concerns about inflation, which might force the Fed to maintain its wait-and-see posture until the central bank gets more clarity, according to WSJ.
- US President Trump said it would be a good thing if Fed Chair Powell quits and said that Powell should resign immediately, while he repeated criticism that Powell is too late.
- White House Economic Adviser Hassett said the Fed has a lot to answer for on renovation cost overruns and if there is cause to fire Fed Chair Powell, President Trump has the authority to do so.
- UK’s King Charles will host US President Trump for a state visit from September 17th to 19th.
- NVIDIA (NVDA) CEO Jensen Huang is to hold a media briefing in Beijing on July 16th.
APAC TRADE
EQUITIES
- APAC stocks were mostly positive but with some cautiousness seen following US President Trump’s latest tariff letters in which he announced to impose 30% tariffs on the EU and Mexico from August 1st, while the region also reflected on somewhat mixed Chinese trade data.
- ASX 200 was rangebound as gains in mining, resources and materials offset the weakness in the consumer, industrial, financial and tech sectors, while data showed imports missed estimates for Australia’s largest trading partner.
- Nikkei 225 initially retreated amid tariff uncertainty although the losses were gradually pared as sentiment overnight somewhat improved and Machinery Orders topped forecasts.
- Hang Seng and Shanghai Comp kept afloat amid the latest trade data in which exports topped forecasts and imports missed but returned to growth, while there were some encouraging comments from the meeting between US Secretary of State Rubio and Chinese Foreign Minister Wang last Friday which was described as constructive and with the odds said to be high for a future meeting between US President Trump and Chinese President Xi.
- US equity futures (ES -0.4%, NQ -0.4%) were pressured after the latest US tariff announcement and with demand subdued ahead of upcoming key events including US CPI data and the start of earnings season.
- European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 0.6% after the cash market closed with losses of 1.0% on Friday.
FX
- DXY was little changed ahead of key releases later in the week including the US CPI data and as the focus remained on US President Trump’s tariff updates after he announced to impose 30% tariffs on the EU and Mexico starting on August 1st, while Trump also reiterated his criticism that Fed Chair Powell is too late and said it would be a good thing if Powell quits.
- EUR/USD initially weakened as participants reacted to Trump’s tariff letter to Europe but gradually pared losses amid a potential ‘TACO’ trade and given that the EU extended the suspension of their countermeasures to US tariffs until early August, while Trump later commented that the EU is talking to the US and wants to open up their countries.
- GBP/USD remained lacklustre after recent selling pressure which dragged the pair to a sub-1.3500 level.
- USD/JPY was choppy with early headwinds amid tariff concerns and stronger-than-expected machinery orders.
- Antipodeans softened amid the ongoing uncertainty and as participants digested Chinese trade data.
- PBoC set USD/CNY mid-point at 7.1491 vs exp. 7.1744 (Prev. 7.1475)
FIXED INCOME
- 10yr UST futures were rangebound with price action contained after last week’s selling pressure and ahead of key releases this week including US CPI, PPI and Retail Sales.
- Bund futures got some slight reprieve from the prior week’s declines as tariffs remained in focus.
- 10yr JGB futures retreated as yields rose in the aftermath of the better-than-expected Machinery Orders data.
COMMODITIES
- Crude futures were rangebound after last Friday’s advances and with a lack of major energy-specific catalysts from over the weekend, while participants await President Trump’s announcement concerning Russia/Ukraine.
- Iraq set August Basrah Medium Crude official selling price to Asia at plus USD 1.35/bbl vs Oman/Dubai, while it set OSP to Europe at minus USD 0.55 vs Dated Brent and set the OSP to North and South America at minus USD 1.15 vs ASCI.
- Spot gold initially climbed at the reopen owing to trade concerns following President Trump’s tariff letters to the EU and Mexico, although the precious metal eventually gave back most of its gains with a potential TACO trade in play.
- Copper futures lacked demand amid tariff-related headwinds and mixed Chinese trade data.
- Australia’s PM Albanese said they need to work together with China to address global excess steel capacity.
CRYPTO
- Bitcoin extended on its bull run and climbed above the USD 120k level to print a fresh record high.
NOTABLE ASIA-PAC HEADLINES
- BoJ is likely to increase its inflation forecast for fiscal 2025 but maintain consumer inflation forecasts for fiscal 2026 and 2027, according to sources cited by Reuters.
- Japan and the EU are seeking to develop a joint satellite network, according to Nikkei.
DATA RECAP
- Chinese Trade Balance (USD)(Jun) 114.8B vs. Exp. 109.0B (Prev. 103.2B)
- Chinese Exports YY (USD)(Jun) 5.8% vs. Exp. 5.0% (Prev. 4.8%)
- Chinese Imports YY (USD)(Jun) 1.1% vs. Exp. 1.3% (Prev. -3.4%)
- Chinese Trade Balance (CNY)(Jun) 826.0B (Prev. 743.6B)
- Chinese Exports YY (CNY)(Jun) 7.2% (Prev. 6.3%)
- Chinese Imports YY (CNY)(Jun) 2.3% (Prev. -2.1%)
- Japanese Machinery Orders MM (May) -0.6% vs. Exp. -1.5% (Prev. -9.1%)
- Japanese Machinery Orders YY (May) 4.4% vs. Exp. 3.4% (Prev. 6.6%)
- Singapore GDP QQ (Q2 A) 1.4% vs Exp. 0.6% (Prev. -2.6%)
- Singapore GDP YY (Q2 A) 4.3% vs Exp. 3.5% (Prev. 3.9%)
GEOPOLITICS
MIDDLE EAST
- Israeli official said talks in Doha are ongoing with Hamas for a ceasefire and hostage deal but noted Hamas is sticking to positions that do not allow mediators to advance an agreement.
- US envoy to the Middle East Witkoff said he is hopeful on Gaza ceasefire negotiations and was said to meet senior Qataris in New Jersey on Sunday.
- Iranian Foreign Minister Araghchi said they are carefully assessing options for talks with the US.
RUSSIA-UKRAINE
- US President Trump is considering greenlighting new funding for Ukraine to send a message to Russia, according to CBS. It was separately reported that President Trump is to announce an “aggressive” Ukraine weapons plan on Monday to arm Ukraine which is expected to include offensive weapons, according to Axios.
- EU envoys are nearing an agreement on lower Russian oil price cap, according to Reuters.
- Ukraine’s SBU intelligence agency accused Russia’s FSB of being behind the murder of an SBU Colonel in Kyiv last week and said agents responsible for the murder were killed during an operation to apprehend them.
- IAEA team at Ukraine’s Zaporizhzhia nuclear plant reported hearing hundreds of rounds of small arms fire on Saturday night.
- Russia’s Defence Ministry said Russian forces took control of Myrne and Mykolaivka in eastern Ukraine.
- North Korean leader Kim reaffirmed unconditional support for Moscow’s actions in the Ukraine war during a meeting with Russian Foreign Minister Lavrov, while North Korea and Russia pledged cooperation to safeguard each other’s territorial integrity. Furthermore, Russia expressed firm opposition to any attempt to undermine North Korea’s national security and sovereignty, while it was also stated that Moscow wants to further strengthen the strategic partnership.
OTHER
- North Korea warned it stands ready to take military action against threats from the US, Japan and South Korea following recent joint air drills involving a strategic US bomber, according to KCNA.
EU/UK
NOTABLE HEADLINES
- Japan and the EU are seeking to develop a joint satellite network, according to Nikkei.
- UK Chancellor Reeves is to hail fiscal ‘stability’ and City risk-taking in her Mansion House speech on Tuesday and will insist she has a grip on the UK economy and will not let borrowing run out of control, according to FT. CityAM also reports that she is to leave cash Isas untouched.
- BoE Governor Bailey says the MPC is prepared to make larger rate reductions if the jobs market shows signs of a pronounced slowdown, according to The Times.
- Netherlands rationed electricity to ease power grid stresses as thousands of businesses and households waited to connect to the Dutch grid, while officials and companies said lengthy waits for connections were holding up economic growth and could force businesses to rethink their investment plans, according to FT.
- Fitch affirmed Germany at AAA; Outlook Stable.
3 .ASIA
3A NORTH KOREA/SOUTH KOREA
3B JAPAN/
Parabolic Panic: Japanese 30Y Yield Is a Bigger Threat Than Markets Admit
Monday, Jul 14, 2025 – 9:34
Parabolic
Japan 30 year yield chart looking more and more like a classical parabolic chart…
Source: LSEG Workspace
Bigger
The latest move higher in Japanese long end is “substantially” bigger than what made people nervous back in mid May…
Source: LSEG Workspace
To follow?
Will US 30 year follow the Japanese version?
Source: LSEG Workspace
JGB driving western yields
“The simple fact is that super loose BoJ policies, both Zero Interest Rate Policy (ZIRP)…and outsized BoJ QE, had long helped anchor western bond yields far below where they would have been otherwise as various forms of the yen carry trade suppressed western yields“. (Albert Edwards)
Source: Soc Gen
Underestimated risk
On the tech connection. “…our hypothesis that valuations are vulnerable to a normalisation of the Japanese real bond yield will only be tested if/when the Japanese real bond yield rises meaningfully. On a medium-term horizon, this is a significant and underestimated risk….” (BCA, Dhaval Joshi)
Source: BCA
Pay attention
You probably don’t trade Japanese bonds, but moves like these should be observed, irrespective if you “only” trade the SPX. Chart shows SPX vs the Japanese 30 year (inverted).
Source: LSEG Workspace
VIX to revive?
Bigger moves in the Japanese 30 year have spilled over to VIX catching strong bids. Is this time different, or will VIX “nail” the seasonality chart again?
Source: LSEG Workspace
Source: Equity Clock
Precious connection
Japanese 30 year vs. gold and silver moving in pretty much perfect tandem.
Source: LSEG Workspace
Source: LSEG Workspace
Loving it
BTC loving bond vigilantes in action…
Source: LSEG Workspace
3C CHINA
China Reports Worst Producer Deflation In 2 Years Amid Ongoing Trade Uncertainty
Friday, Jul 11, 2025 – 10:15 PM
Authored by Lily Zhou via The Epoch Times (emphasis ours),
China’s factory-gate prices in June saw the biggest fall in two years amid uncertainty in international trade and weak domestic demand.
According to figures released on July 9 by China’s National Bureau of Statistics, the producer price index for industrial products in June fell by 3.6 percent compared with the same month in 2024—worse than a 3.3 percent drop in May, and the biggest annual decline since July 2023.
The month’s purchasing price index for industrial products fell by 4.3 percent year over year, bigger than the 3.6 percent drop in May, and the sharpest decline since August 2023.
According to Dong Lijuan, statistician at the National Bureau of Statistics, the producer price index deflation in June was driven by cheaper energy prices, uncertainties in international trade, and hot and wet weather that drove down the price of building materials.
Sectors that rely on exports faced more downward pressure in prices, she said.
“The prices of computers, communication equipment, and other electronic equipment in June dropped by 0.4 percent [compared to May], the prices of electrical machinery and equipment fell by 0.2 percent, and textile prices fell by 0.2 percent,” she said.
In annual terms, the prices of computers, communication equipment, and other electronic equipment fell by 2.3 percent.
China’s factory activity shrank for a third month in a row in June, albeit at a slower pace, with employment and new export orders still languishing.
“We expect demand to weaken later this year, as exports slow and the boost from fiscal support diminishes,” Zichun Huang, China economist at Capital Economics, said.
Market reaction to the data was cautious amid uncertainties in the trade war between the United States and other economies. China’s Shanghai Composite Index was up by 0.3 percent by the midday break, while Hong Kong’s benchmark Hang Seng Index traded down by 0.7 percent.
As subdued domestic demand remains a drag on China’s economy, companies have resorted to price discounts to boost sales, prompting the authorities to urge an end to the auto industry’s bruising price wars.
Highlighting the tepid consumer market, Chinese e-commerce giants Alibaba and JD.com have pledged heavy subsidies over recent months to expand aggressively into fast deliveries.
Consumer prices rose by 0.1 percent compared with the same month in 2024, following four months of deflation.
“Consumer inflation is likely to remain near zero for the rest of the year, as structural adjustment continues slowly, with consumer demand weighed by the protracted property downturn and worries over the jobs market,” Duncan Wrigley, chief China economist at Pantheon Macroeconomics, said.
He also said that trade tensions between Washington and Beijing are likely to continue despite the recent framework agreement.
“More flare-ups are likely and cooling export growth will add to downward price pressure in manufactured goods sectors,” he said.
According to supply chain technology provider Descartes, U.S. container imports from China were about 639,300 20-foot equivalent units in June, slightly up (0.4 percent) from May, but a 28.3 percent decline from June 2024.
The company said it expects that “China’s share of U.S. imports may remain under pressure through the second half of 2025,” with the upcoming expirations of U.S. tariff pauses extended to Aug. 1 and the trade truce with China on Aug. 12, and with additional U.S. tariffs on transshipped goods via Vietnam.
Reuters contributed to this report.
4 European affairs
NATO/USA
Trump At NATO Summit To Push ‘Historic’ 5% Spending Goal Amid Global Conflicts
Tuesday, Jun 24, 2025 – 02:00 AM
Authored by Emel Akan via The Epoch Times,
President Donald Trump will arrive in The Hague, Netherlands, today June 24 for a critical NATO summit, aiming to secure unprecedented defense spending commitments from allies, an issue he has championed for years.
This year’s summit is poised to set a bold new defense spending target of 5 percent of gross domestic product (GDP) for each member country, more than doubling the current 2 percent benchmark.
Trump’s whirlwind 24-hour visit to the Netherlands comes amid a geopolitical storm in the Middle East as peace (well, a ceasefire allegedly) almost breaks out between Iran and Israel conflict (following Iran’s ‘theatric’ attack on US bases after US airstrikes over the weekend on three Iranian nuclear facilities, which were intended to halt Tehran’s pursuit of nuclear weapons).
Because of the mounting tensions in the Middle East, the U.S. president is keeping things short at NATO, much like his brief Group of Seven (G7) summit appearance in Canada a week earlier.
Despite the shortened agenda, he is expected to tackle several other pressing issues, including the ongoing war in Ukraine, Russia sanctions, and the future of the U.S. military posture in Europe.
Additionally, all eyes will be on Trump’s interactions with French President Emmanuel Macron—whom he recently criticized over Iran comments—and with Danish Prime Minister Mette Frederiksen, who remains unsettled by Trump’s interest in acquiring Greenland.
Here is what to expect at this year’s summit:
New Defense Spending Target
The upcoming summit in The Hague will focus primarily on establishing a new defense spending target for member countries.
Trump has long been critical of NATO countries for not paying their fair share for the alliance. Since returning to the White House in January, he has intensified pressure on member states to meet higher defense spending targets.
To address Trump’s concerns, NATO Secretary-General Mark Rutte has proposed increasing the target for member countries from the current minimum of 2 percent of GDP to 5 percent annually.
His two-tiered proposal calls for allies to allocate 3.5 percent of GDP to core defense spending and an additional 1.5 percent to infrastructure and industrial capacity.
A growing number of European NATO members, including Germany, have backed this new proposal.
This year’s summit would likely formalize the new spending target, with debates centering on the timeline and implementation.
“The president intends to secure a historic 5 percent defense spending pledge from NATO allies, which will strengthen the alliance’s combined military capabilities and ensure greater stability in Europe and the world,” a senior U.S. official told reporters during a call last week.
Trump will push allies at the upcoming summit to boost industrial capacities to create “supply chains capable of producing the critical minerals, infrastructure, weapons, and other products necessary for the security of America and her allies,” the official said.
The 2 percent GDP defense spending goal, set in 2014 after Russia’s invasion of Ukraine, is met by 23 of NATO’s 32 members, according to the estimates.
The new 5 percent target reflects a growing consensus that Europe must take greater responsibility for its security.
“Europeans have understood that they must shoulder primary responsibility for their own security and defense in the future,” James Goldgeier and Sophie Roehse, foreign policy experts at the Brookings Institution, wrote in a recent report.
“This recognition will only strengthen NATO and should have occurred long ago.”
The timeline for achieving the 5 percent target remains contentious. While some NATO allies propose a 2035 target, several countries, driven by regional security threats, advocate for an earlier target date.
“Aside from the Baltics, who are pushing hard for 2030, most allies have been lobbying for a later date,” said Sara Moller, associate teaching professor in the School of Foreign Service at Georgetown University.
“But the Trump team clearly wants to light a fire and move things along faster.”
Spain Resists NATO Spending Target
NATO officials have been eager to secure consensus on a new spending commitment ahead of the summit.
Spanish Prime Minister Pedro Sánchez announced last week that his country would not commit to the proposed 5 percent defense spending target.
And on June 21, Sánchez said he had reached a deal with NATO to be excluded from the 5 percent defense spending target.
Spain allocated nearly 1.3 percent of its GDP to defense in 2024, making it the alliance’s lowest spender.
US Force Posture in Europe
The Trump administration has reaffirmed its commitment to defending NATO allies in Europe, as U.S. Permanent Representative to NATO Matthew Whitaker emphasized at a security conference in Estonia in May.
The recent nomination of U.S. Air Force Lt. Gen. Alexus G. Grynkewich as NATO’s supreme allied commander Europe further signals continued U.S. support for nuclear deterrence in the region, according to the Brookings Institution experts.
At the same time, many expect a reduction in the U.S. military posture in Europe this summer.
A growing view among conservatives favors a smaller U.S. footprint in Europe and a strategic shift of forces and equipment toward the Indo-Pacific to counter China.
“Advocates of this idea view China as the greatest strategic threat to U.S. national security and contend that Europeans should assume primary responsibility for deterring Russia,” Goldgeier and Roehse wrote.
U.S. officials, including Whitaker, have hinted at a review of the U.S. force posture, with potential troop reductions possibly announced after the NATO summit.
“That looming announcement will be front and center,” Moller said. “Everyone will be watching closely for any signals about what, exactly, the Pentagon plans to pull from the European theater.”
Denmark and Greenland
Trump’s interaction with Frederiksen will be critical at this week’s summit, given her unease over Trump’s interest in taking over Greenland.
Trump may raise U.S. concerns about Greenland’s potential independence and the increasing influence of Russia and China in the Arctic.
For the past eight years, both the Trump and Biden administrations have expressed worries about Greenland, an autonomous Danish territory, moving toward independence.
Despite Denmark’s status as a close NATO ally, the United States fears that Copenhagen’s influence over Greenland could wane if independence gains traction.
Rising Arctic activity, driven by warming trends, is intensifying competition and tensions.
A 2008 U.S. Geological Survey report estimates that the Arctic holds 90 billion barrels of oil and 1,669 trillion cubic feet of natural gas—about 22 percent of the world’s undiscovered conventional oil and gas reserves.
The region also contains trillions of dollars in minerals, including silver, copper, gold, nickel, iron ore, and rare earth elements.
The Chinese regime in recent years has been ambitiously developing its commercial and military capabilities in the Arctic.
In addition, Russian and Chinese warships are operating together more frequently in the region.
“I think the interaction between Mette Frederiksen, the Danish prime minister, and Donald Trump is something to watch for,” said Max Bergmann, director of the Europe, Russia, and Eurasia Program at the Center for Strategic and International Studies.
“Mette Frederiksen has not yet been to Washington, and there’s been a lot of strain in the bilateral relationship, and that is quite concerning because Denmark has been one of the most pro-American allies within NATO and within the European Union.”
Russia Sanctions
European allies are pressing Trump to follow through on his earlier threats to impose tough new sanctions on Russia because of the ongoing war in Ukraine.
In recent months, Trump had signaled a willingness to take a harder line against the Kremlin. But at the G7 summit, he appeared to backtrack, stating that “sanctions cost … a lot of money.”
He also criticized G7 leaders for expelling Russia in 2014 from the group, originally called the G8.
“This was a big mistake,“ Trump told Canadian Prime Minister Mark Carney during the G7 summit. ”You wouldn’t have that war. You have your enemy at the table.”
He also canceled a planned meeting with Ukrainian President Volodymyr Zelenskyy, as he had to cut his trip short to focus on Iran.
Zelenskyy is expected to attend a state dinner in The Hague. And it is still unclear whether Trump will meet the Ukrainian president on the sidelines.
“I don’t think we’ll see any big announcements on Ukraine,” Moller said.
“The president’s priority remains to end the war by getting Moscow and Kyiv talking.
“Everything Washington is willing to put forward on Ukraine right now flows from that single objective, which means the administration isn’t prepared to offer more at this stage.”
END
EU/MEXICO.USA
Trump To Impose 30% Tariffs On Mexico, European Union
Saturday, Jul 12, 2025 – 09:55 AM
President Trump on Saturday morning fired off two trade warning letters via Truth Social, threatening to impose 30% tariffs on all Mexican and European imports starting August 1. The warning to Mexico hinges on action to curb the flow of fentanyl and dismantle drug cartels, while the threat to Europe demands an end to long-standing trade imbalances driven by EU tariffs and non-tariff barriers. This caps off a week of letters sent to America’s top trade partners, with tariff threats used as a negotiation tool by the Trump administration to seal deals.
“Despite our strong relationship, you will recall, the United States imposed Tariffs on Mexico to deal with our Nation’s Fentanyl crisis, which is caused, in part, by Mexico’s failure to stop the Cartels, who are made up of the most despicable people who ever walked the Earth, from pouring these drugs into our country,” Trump said in the letter addressed to Mexican President Claudia Sheinbaum Pardo.
He continued, “Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough. Mexico still has not stopped the Cartels who are trying to turn all of North America into a Narco-Trafficking Playground.”
Here are the key points in the letter:
- 30% tariff will apply to all Mexican imports unless action is taken.
- Tariff waivers will be granted for companies that build or manufacture in the U.S.
- If Mexico raises tariffs in retaliation, the U.S. will match them on top of the 30%.
- Adjust tariffs if Mexico successfully confronts the cartels and halts fentanyl trafficking
Copy of the letter that was posted on Trump’s Truth Social:
The second letter Trump was addressed to Ursula von der Leyen, President of the European Commission, in which he informed Brussels that he would impose a 30% tariff on all EU products starting August 1, unless long-standing trade imbalances—driven by EU tariffs and non-tariff barriers—are addressed.
“The European Union, despite having one of our largest Trade Deficits with you. Nevertheless, we have decided to move forward, but only with more balanced and fair TRADE,” the president said.
He emphasized:
- The U.S. market is open and fair, but EU practices have created an unsustainable trade deficit.
- The 30% tariff applies separately from any sectoral tariffs and will be higher for goods transshipped to avoid it.
- No tariffs will be applied if EU companies manufacture within the U.S.
- The EU must allow full market access to the U.S. or face higher tariffs.
- Retaliatory EU tariffs will be met with additional levies.
Trump warned that this trade deficit with the EU is a “major threat to our Economy and, indeed, our National Security!”
Copy of the letter that was posted on Trump’s Truth Social:
This past week, the Trump administration sent out two dozen trade warning letters to countries.
Let’s recap the week with the most important trade headlines:
- Trade Crackdown: 14 Countries Receive Tariff Letters Including Japan, South Korea And Thailand
- Tariff Time Again: Trump Sends Trade Letters Ahead Of Deadline, Threatens 10% Tariff On BRICS-Aligned Nations
- Trump Says BRICS Members Will Get Additional 10% Tariffs Over De-Dollarization Attempt
- Trump To Impose 35% Canadian Tariff, But USMCA Goods To Stay Exempt
- Copper Soars To Record High As Trump Unleashes 50% Tariff
In markets, crypto was the only asset class trading, with Bitcoin edging lower following the trade warning posts around 8:30 a.m. ET. Some selling pressure in BTC/USD had already emerged earlier, starting around 6:00 a.m. ET.
If no deals are reached by August 1, renewed trade tensions could roil global markets.
END
smart move: she is using her head!
(zerohedge)
EU
EU Won’t Retaliate To Trump’s 30% Tariff, Countermeasures On Hold Until August
Monday, Jul 14, 2025 – 03:30 AM
Authored by Jacob Burg via The Epoch Times,
European Commission President Ursula von der Leyen said on July 13 that the European Union will extend a suspension on its countermeasures to U.S. tariffs until next month while trade negotiations continue with the Trump administration.
On July 12, U.S. President Donald Trump said he will impose a 30 percent tariff on all imports from the EU absent a trade deal with his administration.
The tariffs would be separate from any sector-specific levies. He accused the EU of imposing various tariffs and non-tariff trade barriers on the United States and said he would increase the tariff level if Europe retaliates.
Trump had initially given U.S. trading partners until July 9 to negotiate trade deals with his administration or face the tariffs he announced in early April. Trump recently said he would begin sending letters to countries informing them of their tariff levels if they do not negotiate deals with his team.
He has sent letters to more than 20 U.S. trading partners, including Mexico, which received a letter on July 12 informing the nation that it would also have 30 percent tariffs imposed on its imports into the United States.
After Trump announced the EU’s new tariff level, von der Leyen said on July 12 that the EU, the United States’ largest trading partner, would take all necessary steps to safeguard its interests, including “the adoption of proportionate countermeasures if required.”
German Economy Minister Katherina Reiche called for a “pragmatic outcome to the negotiations” between the EU and the United States.
EU ambassadors met on July 13, one day ahead of the trade ministers’ meeting in Brussels, to decide whether to retaliate against Trump’s new tariffs or extend a suspension on countermeasures that was set to expire on July 14.
The EU opted to take the second route.
While speaking with reporters, von der Leyen said the suspension would extend until early August while the EU continues to “prepare further countermeasures” so it is “fully prepared.”
When Trump delayed the imposition of his reciprocal tariffs on U.S. trading partners until July 9, the EU also suspended an initial package of countermeasures to U.S. sectoral tariffs on steel and aluminum that would affect $24.6 billion in U.S. imports into Europe.
The EU was also preparing a second package of countermeasures since May that would target roughly $84.2 billion of U.S. goods, but the final list requires approval by all EU member states and has not yet been made public.
The bloc’s Anti-Coercion Instrument, which allows it to retaliate against nations outside of the EU that put economic pressure on member states to alter their policies, was not yet on the table, von der Leyen said.
“The [anti-coercion] instrument is created for extraordinary situations, we are not there yet,” she said.
Among the possible retaliatory steps the EU could take are restricting its market access to goods and services and other economic measures that include export controls, financial markets, and foreign direct investment.
On July 13, German Finance Minister Lars Klingbeil said the EU must take action against the United States if trade negotiations fail.
“If a fair negotiated solution does not succeed, then we must take decisive countermeasures to protect jobs and companies in Europe,” Klingbeil, who is also vice chancellor in his nation’s ruling coalition, told German media. “Our hand remains outstretched, but we will not go along with everything.”
Because the United States is its largest export market, Germany could face significant challenges from higher U.S. tariffs, particularly as it exports automobiles, automobile components, machinery, and pharmaceuticals into the United States.
end
GERMANY
mutiny on the bounty?
Dissonance In The Green Valhalla: German Workers Break The Climate Silence
by Tyler Durden
Monday, Jul 14, 2025 – 05:00 AM
Submitted by Thomas Kolbe
For the first time in years, a group of German industrial labor representatives has broken ranks. In an open letter to Chancellor Friedrich Merz, they fiercely criticize Berlin’s climate policy. Will their defiance ignite a firestorm—or vanish in the memory hole crafted by media gatekeepers?
I must admit: after years of bitter disappointment in the fight for rational energy discourse, I view initiatives like this with cautious pessimism. In Germany, climate policy has become the domain of a paternalistic triad—politics, media, and public compliance. The first casualty? Open debate. The air is thick with passive-aggressive apocalypse. Criticizing the Green Deal is a near-taboo. No historical precedent comes to mind where a nation, fully conscious, impales itself economically in slow motion.
Calm Before the Storm?
In the U.S., the climate machinery may be in retreat under Trump’s return. But in the EU, the climate cartel and its beneficiaries remain in full control – despite recession, deindustrialization, and public despair. Is this just the quiet before the reckoning?
Germany has paid the highest price in this climate crusade. Its forced transition to renewables, while banning nuclear energy, might still be hailed as “civilizational progress” in eco-parasitic enclaves like Berlin-Prenzlauer Berg or Cologne-Ehrenfeld. But out in the real world, where productive citizens, families, and businesses depend on affordable energy and mobility, the mood has soured. The party’s over. Pockets are empty. And the pressure’s building.
Now, at last, some are speaking up. A group of industrial works councils is calling on Chancellor Merz to halt the climate policy suicide run. Since COVID lockdowns, over 300,000 jobs in Germany’s industrial core have vanished. Energy-intensive production has become a fantasy—especially when competitors like the U.S. pay up to 75% less for electricity.
End of the Silence Cartel
The letter’s signatories include labor reps from LEAG, ArcelorMittal Eisenhüttenstadt, BASF Schwarzheide, the works council of Lausitz Energy, and the regional leadership of the IGBCE union. These are not outliers—they’re survivors of Germany’s failed “green transformation.”
ArcelorMittal recently scrapped its green steel plans—despite billions in offered subsidies. BASF is cutting 700 jobs in Ludwigshafen. The “green restructuring” of Germany’s economy now reads like an industrial obituary. Every day, another subsidized project collapses into the dustbin of central planning.
Their rebellion is the real headline: it takes courage to stand outside the climate orthodoxy and step into the light. Respect.
No More Consensus
These aren’t populists or corporate shills. These are works councils, long considered integrated into Germany’s consensus-driven labor model. By issuing a public letter, they’re committing open defiance. They’re aiming straight at the Green Deal—the administrative metastasis that has paralyzed Europe’s economic lifeblood.
The tone is striking: they describe “the worst economic crisis since WWII.” Over 100,000 industrial jobs lost—just this year. In truth, the total job losses since 2020 are triple that, according to Ernst & Young.
They call the energy transition a “failed operation on an open heart.” After 35 years of subsidizing wind and solar, grid stability hasn’t improved—yet grid costs are in the hundreds of billions. The high energy prices aren’t just socially unjust; they’re an existential threat to prosperity and civil peace.
The councils are calling for an industrial electricity price of €0.05/kWh, and for industry to be freed from surcharges and levies.
Brussels’ Controlled Economy
In response, the EU Commission approved a controversial subsidy scheme in June: selected companies may receive up to 50% off wholesale power prices—but only for half their annual usage, and only if they invest in “green technologies.”
Once again, instead of market discipline or fair competition, Brussels fixes prices and distributes taxpayer money based on ideological compliance. They can’t—and won’t—let go of command-and-control economics.
A Healthy Immune Response
That these labor leaders speak plainly and dismantle the green agenda line by line is encouraging. A part of German society still has an immune system when its existence is at stake. They demand an end to national and EU-level climate overreach unless and until binding global commitments exist. They also demand fair trade protections and realistic technology policy—including hydrogen and carbon capture.
This is the key: on an integrated global market, unilateral sacrifices only lead to destruction. Germany’s leadership has knowingly ignored this truth for decades. The workers’ letter, while addressed to Berlin, clearly targets Brussels.
The EU’s plan was simple: force the world into its climate straitjacket to offset its strategic energy deficit. The EU imports 60% of its energy. That dependency makes Brussels vulnerable. And nothing frightens it more than negotiating with energy-exporting partners as equals.
Bottom-Up Rebellion
This protest has grassroots power—it comes from people living the reality of failed climate economics, not from think tanks or talking heads. It will initially circulate through unions and works councils, but the shared pain may soon create a common wave of resistance. Should this happen, the media-industrial complex will struggle to ignore, bury, or mock it—though they’ll try.
We may be witnessing a turning point—where internal pressure forces Brussels and the von der Leyen Commission to alter course.
That the challenge comes not from corporate lobbies, state-funded artists, or Green-aligned parties, but from the very workers being sacrificed, gives it a potency unseen in the climate debate.
If this letter reaches public consciousness—despite media blackout—then the winds sown by Brussels and the climate lobby may erupt into a storm even Europe’s green elites can’t contain.
Let’s stay optimistic.
*end
SPAIN
this is what you get when you have immigrants that cannot assimilate!
Gateway Pundit
MIGRATION WAR: Spaniards and North-Africans Wage Street Battles in Small Spanish City of Torre-Pacheco After Pensioner Badly Beaten by Moroccan Immigrants (VIDEOS)
by Paul Serran Jul. 13, 2025 2:20 pm
The suicidal EU policy of unchecked mass migration is fraying the social fabric of most European nations, and the tensions are flaring, leading to open confrontations in Northern Ireland, and now, in Spain.
The small town of Torre-Pacheco, near Murcia, has become a war zone as citizens fight back against North African migrants in real street battles, after Moroccan a migrant beat up a Spanish elderly man.
Apolo News reported:
“After a brutal attack on a pensioner by a Moroccan, riots have broken out in Spain. Angry Spaniards chased North Africans in the streets, Moroccan youth gangs did the same – street battles ensued.
In the southern Spanish city of Torre-Pacheco, not far from the metropolis of Murcia, dramatic scenes have been playing out since Friday. After a young Moroccan beat an innocent elderly man for no reason on Wednesday morning, leaving him seriously injured, a group of Spaniards has formed in the Spanish city to hunt down Moroccans out of revenge.”
Watch: Moroccan migrant beats and humiliates old man.
Las políticas de fronteras abiertas de la PPSOE permiten la entrada sin control de miles que rechazan nuestra cultura, poniendo en riesgo a ancianos, hermanas e hijas. Lo de #TorrePacheco de hoy es el resultado del hartazgo de los españoles de bien ¡España por fin despierta! ⚔️ pic.twitter.com/1iTQDmcrre
— Diego (@Diegoap09) July 11, 2025
Spanish media reports that some 2,000 people had gathered in Torre-Pacheco on Friday (13) to demonstrate for more security and against the insane asylum policy.
The demonstration then escalated as the evening fell.
Watch: ‘You don’t touch our grandfathers’.
5. RUSSIA AND MIDDLE EASTERN AFFAIRS
ISRAEL VS IRAN
Times of India
Many explosions rock Iran!
Explosions Rock Iran Province; Seven Injured As Officials Rule Out Sabotage
Multiple residential units in Pardisan neighbourhood. Iranian media, citing initial investigations, attributed the blast to a gas leak. Authorities have ruled out any Israeli involvement, amid heightened regional tensions following the recent Iran-Israel conflict. Watch
END
IRAN/THE WEST
Iranian lawmaker says Strait of Hormuz still under review, no decision yet to close it
The possibility of Iran closing the waterway, through which about a fifth of global oil and gas shipments pass, was speculated upon during the 12-day air war between Israel and Iran last month.
Iranian lawmaker Esmail Kosari.(photo credit: Wikimedia Commons)ByREUTERSJULY 14, 2025 18:54
Hardline Iranian lawmaker Esmail Kosari said any closure of the Strait of Hormuz was still under review but no decision has yet been made, in comments carried by Iran’s state media on Monday.
“Military measures concerning the Strait of Hormuz have been completed, but no decision has yet been made regarding its (closure) and the matter is still under review,” Kosari, a member of the national security committee in the Iranian parliament, was quoted as saying.
It was not immediately clear what military measures he may be referring to.
The possibility of Iran closing the waterway, through which about a fifth of global oil and gas shipments pass, was speculated upon during the 12-day air war between Israel and Iran last month.
The strait lies between Oman and Iran and links the Gulf with the Gulf of Oman to the south and the Arabian Sea beyond.
Empty threats in closing the Strait?
Iran has, over the years, threatened to close it but has never followed through on that threat.
“It’s us who decide what time it is open and what time it would be closed; currently, we are reviewing and we can execute whenever it’s necessary,” Kosari added.
END
ISRAEL VS HAMAS
Military action following lack of hostage deal: Netanyahu’s path forward in Gaza – analysis
Whether by design or necessity, the breakdown in diplomacy was quickly followed by a sharp escalation on the ground.
Israeli Prime Minister Benjamin Netanyahu attends a bilateral dinner held by U.S. President Donald Trump (not pictured), at the White House in Washington, D.C., U.S., July 7, 2025.(photo credit: REUTERS/KEVIN LAMARQUE)ByHERB KEINONJULY 13, 2025 21:09Updated: JULY 13, 2025 22:09
The intensified IDF actions in Gaza over the weekend can be seen as the continuation of negotiations by other means.
Despite expectations that Prime Minister Benjamin Netanyahu’s visit to Washington would culminate in a ceasefire agreement with Hamas, no deal emerged.
Israeli and Hamas teams had engaged in a week of “proximity talks” in Doha, and US President Donald Trump had issued upbeat messages suggesting an agreement was just around the corner. Yet the talks stalled in Doha, and Trump’s Middle East envoy, Steve Witkoff – who had been expected to fly there to help finalize the deal – stayed home.
Netanyahu’s return from Washington without a ceasefire deal – despite Trump’s public optimism – was immediately followed by the IDF’s most intensive strikes in Gaza in months, with the military saying some 250 targets were hit over 48 hours, including heavy bombing in Beit Hanun, where five soldiers were killed last week.
Before leaving Washington, Netanyahu reiterated Israel’s core demands: Gaza must be demilitarized, and Hamas’s military and governing capabilities dismantled. “If those things will be achieved by way of negotiations, so much the better,” he said in a video statement. But if not, he made clear, those aims would be achieved through other means.
The escalation on the ground serves both as a message to Hamas and a signal to Netanyahu’s coalition partners that the government’s war aims remain unchanged.
Aerial photos from Beit Hanun – just across the border from Netiv HaAsara and six kilometers from Sderot – show a city largely destroyed above ground.
But as has often been the case in this war, the real battle lies underground, in the sprawling network of Hamas tunnels, some of which remain intact and operational. That subterranean maze now appears to be at the center of Israel’s operational focus.
Whether by design or necessity, the breakdown in diplomacy was quickly followed by a sharp escalation on the ground. That escalation fits squarely into Netanyahu’s broader approach: maintain intense military pressure on Hamas until it accepts Israel’s core demands.
This latest turn – stalemated diplomacy abroad, intensified military operations at home – offers a revealing window into Israel’s current strategy. This isn’t a case of diplomacy collapsing and war filling the vacuum; it’s a case of both tracks moving in parallel, each shaping and reinforcing the other.
Israel is trying to craft the contours of a future deal not just with diplomatic language, but with airstrikes. The goal is to generate leverage on the battlefield to carry back to the negotiating table.
Pressure mounting for Netanyahu to accept deal to bring home hostages
For weeks, pressure has mounted – from the public, from within the security establishment, from Washington, and from European capitals – for Netanyahu to accept a ceasefire that would bring the hostages home.
NETANYAHU’S RETURN without a deal sent a message, reinforced by the stepped-up military action: he means what he says – that at the end of the day, Hamas will have to demilitarize and be stripped of any military or government capabilities, and that the fighting will continue until this happens.
His coming home Friday empty-handed shows that the public and political pressure to prioritize the hostage release over Hamas’s defeat has not shifted his position. The juxtaposition of Netanyahu’s return and the surge in fighting sends a clear message to Hamas: if there’s no agreement, this is what lies ahead.
It also sends a broader message – to Hamas, to the region, and to Washington. Despite America’s involvement in bombing Iran’s nuclear facilities last month – and despite some expectations that Netanyahu would be compelled to wrap up the Gaza campaign as a concession to Trump – Netanyahu is showing that on this matter he retains agency and the final say.
According to reports, the talks in Doha over a temporary 60-day ceasefire – during which 10 live hostages and 15 bodies still held would be released – are stuck on two major issues.
First, Hamas wants the IDF to pull back to the lines agreed to in the ceasefire reached in January, including a withdrawal from the Morag corridor and a significant reduction of the current operational footprint.
Since the last ceasefire, the IDF has expanded its presence in key areas, and Hamas wants that reversed. Israel is not inclined.
Second, Hamas wants to restore the UN-coordinated aid distribution system that allowed it to control humanitarian assistance and maintain power. Israel, by contrast, wants to preserve the US-backed Gaza Humanitarian Foundation, created earlier this year, which limits Hamas’s ability to hijack aid for its own purposes.
Israel needs both – control of most of the Morag Corridor and the GHF to distribute aid – to establish a Hamas-free “humanitarian city” in Rafah, something Hamas is adamantly opposed to.
The IDF’s stepped-up activity as negotiations stall also serves another purpose: sending a message to Netanyahu’s coalition partners.
Itamar Ben-Gvir and Bezalel Smotrich have indicated they will bolt the government if the Doha talks render a ceasefire agreement that leaves Hamas with a grip on aid distribution or sees the IDF retreat significantly.
By coming home from DC without a deal and then taking the strongest military action in Gaza in months, the prime minister is sending them a signal that he hasn’t abandoned the war’s central objectives, and that – in turn – they shouldn’t abandon the government. In the end, Hamas will have to lay down its arms and be stripped of any governing or military capabilities in Gaza.
What remains elusive is how to square all of that with what was once the war’s overriding parallel aim: the return of all the hostages.
For now, Netanyahu is signaling that the defeat of Hamas remains the guiding priority and that any deal that undermines that goal, even if it brings some hostages home, is not worth the cost. That message is directed at Hamas, at Trump, at the international community, and perhaps most urgently, at his own political base.
Whether this strategy ultimately delivers the hostages – or stretches the war even further – remains to be seen. But one thing is clear: Israel is not pausing the war to make room for diplomacy. It is waging the war in order to shape it.
end
ISRAEL VS HAMAS
WEST BANK
Israel is losing the narrative worldwide in West Bank and Gaza – comment
Fact-checking becomes impossible in war zones, and unverified casualty figures are often published uncritically. Headlines blame Israel for bombings before investigations can conclude.
Israeli tanks are seen in a gathering zone in northern Gaza, July 8, 2025(photo credit: IDF SPOKESPERSON’S UNIT)ByDAVID BRINNJULY 13, 2025 19:18Updated: JULY 13, 2025 19:35
On Saturday, in a normative American city, in a normative website of one of the TV network affiliates, the daily email ‘morning digest’ newsletter of the previous day’s events locally and internationally included these two headlines near the top:
‘American citizen beaten to death by Israeli settlers in occupied West Bank’ and ‘Children among 28 Palestinians killed in Israeli airstrikes in Gaza.’
With headlines like that, is it any wonder why Americans are out demonstrating against Israel, Bob Vylan is chanting ‘Death to the IDF,’ and why antisemitism is surging everywhere?
Whether or not the headlines are accurate, distorted, or completely false, they serve the purpose of demonizing Israel, intentionally or not.
The first story refers to the weekend clashes in the West Bank, north of Ramallah. The facts are sketchy, and the report relies on the Palestinian Health Ministry and wire service stringers in the territories.
The latter headline is another in the ongoing assault by the IDF against Hamas in Gaza that has been taking place since October 8, 2023. It also relies on the Gaza Health Ministry (aka Hamas) as a source.
As the Post stated in its editorial on Sunday, “The problem is not merely rhetorical – it’s structural. Western media relies heavily on local stringers, often in Gaza, with ties to Hamas-controlled ministries. Fact-checking becomes impossible in war zones, and unverified casualty figures are often published uncritically. Headlines blame Israel for bombings before investigations can conclude; retractions, when they come, are buried deep in the digital dust.”
What the two stories share is that two days later, there has been no clarification, denial, explanation, or version presented by any official Israeli body – not the government, the police, nor the IDF.
Owning up to our mistakes
When we do something wrong, we should own up to it and be transparent. But when there’s an explanation as to why a Palestinian-American was beaten to death by settlers (were they defending themselves?) or why children were killed in an IAF air raid in Gaza, there needs to be a follow-up.
It won’t be any help to the slanted headlines that the readers already saw – that ship has sailed on the sea of public opinion portraying Israel as the bloodthirsty aggressor. But it will help in laying out the facts and setting the record straight.
If we do nothing, it looks like we’re covering up atrocities, or just as bad, feigning indifference. Headlines and stories that rely only on one side’s version of the events that took place are inevitable. How Israel responds to them is a media battle policy – one that needs to be taken as seriously as the battle on the ground.
END
ISRAEL HAMAS
IDF kills terrorist who took Emily Damari hostage, IDF strikes tanks in southern Syria
IDF troops operate on Mount Hermon in Syria, May 5, 2025.(photo credit: IDF SPOKESPERSON’S UNIT)
Security forces kill terrorist who took Emily Damari hostage to Gaza in his home
Quneita was a member of Hamas’ Al-Furqan Battalions’ military intelligence battalion, and infiltrated Israel on October 7.
IDF kills Hamas terrorist Muhammad Nasr Ali Quneita, July 14, 2025.(photo credit: IDF SPOKESPERSON’S UNIT)ByJERUSALEM POST STAFFJULY 14, 2025 15:57Updated: JULY 14, 2025 16:57
Security forces killed the terrorist who held Emily Damari hostage in mid-June, the IDF and Shin Bet announced in a joint statement on Monday.
On June 19, the IDF and Shin Bet struck Muhammad Nasr Ali Quneita in the area of Gaza City.
Quneita was a member of Hamas’ Al-Furqan Battalions’ military intelligence battalion, and infiltrated Israel on October 7. He held Emily Damari hostage in his home at the start of the war.
In response to the announcement, Damari posted to Instagram: “May we keep hearing good news like this, and may everyone be held accountable. But true victory will only come when my Gali, Ziv, and the rest of the 48 hostages are returned to us.”
Emily Damari’s abduction by Hamas and her release
Damari, a British-Israeli citizen, was kidnapped by Hamas on October 7, 2023, from her home in Kfar Aza, along with Gali Berman. Hamas also abducted Gali’s twin brother, Ziv.
The two brothers are still being held in Hamas captivity.
During the massacre, Hamas terrorists stormed her home, where they killed her dog, Chucha, and shot her in the hand and leg at close range.
She lost two fingers on her left hand and was wounded in her right leg.
Damari was released on January 19 as part of the hostage deal earlier this year alongside Romi Gonen and Doron Steinbrecher.
After her release, Damari’s injury became a symbol of courage and survival in Israeli society.
The IDF and Shin Bet continue to operate against all those who took part in the October 7 massacre
END
ISRAEL HAMAS
. Tank explosion kills three IDF soldiers in northern Gaza, one wounded
Staff-Sergeant Shoham Menahem, Sergeant Shlomo Yakir Shrem, and Sergeant Yuliy Faktor served in Brigade 401 in the Armored Corps.
IDF announces deaths of three soldiers in Gaza, July 14, 2025.(photo credit: IDF SPOKESPERSON’S UNIT)ByJERUSALEM POST STAFFJULY 14, 2025 22:12Updated: JULY 14, 2025 22:42
Staff-Sergeant Shoham Menahem, Sergeant Shlomo Yakir Shrem, and Sergeant Yuliy Faktor were killed while fighting in northern Gaza, the IDF announced on Monday.
St.-Sgt. Menahem, 21, was from Yardena; Sgt. Shrem, 20, was from Efrat; and Sgt. Faktor, 19, was from Rishon LeZion. All three soldiers served in Brigade 401 of the Armored Corps. An officer in the same brigade was also severely wounded in the incident.
The three soldiers were killed while inside their tank during a brigade mission in Jabalya in the northern Gaza Strip aimed at defeating a local Hamas battalion and destroying terror infrastructure, according to Army Radio. The explosion occurred at around noon.
Cause of the explosion
The initial assessment by the IDF was that an anti-tank missile caused the explosion, Army Radio said. But, as of Monday evening, the IDF believes there is a high likelihood that it was an operational accident and that one of the tank’s shells exploded inside. It is unclear what caused the shell to explode.
The IDF continues to investigate the circumstances of the explosion.
According to the IDF’s tally, the death of Staff-Sergeant Shoham, Sergeant Shlomo, and Sergeant Yuliy Faktor raises the total number of soldiers killed on or since October 7 of last year to 893.
Some 451 of this number were killed since the start of the military’s ground operations in the Strip on October 27.
This is a developing story.
END
HEZBOLLAH/ISRAEL
Lebanon reports 1 killed in strike that IDF says targeted Hezbollah operative
Military says target of airstrike in southern Lebanese town was a member of the terror group’s anti-tank missile unit
By Emanuel Fabian Follow
and ToI Staff12 July 2025, 4:56 pmUpdated at 5:21 pm
Smoke billows from the reported site of an Israeli airstrike on the southern Lebanese village of Wata al-Khiam, July 12, 2025. (Used in accordance with Clause 27a of the Copyright Law)
Lebanon’s health ministry said on Saturday that an “Israeli enemy strike” on a home in south Lebanon’s Wata al-Khiam killed one person.
The Israel Defense Forces later issued a statement confirming the strike, saying it targeted a member of Hezbollah’s anti-tank missile unit.
Under the November 2024 ceasefire agreement with the Lebanese Iran-backed terror group Hezbollah, Israel is entitled to act against imminent threats in Lebanon.
The ceasefire, which ended over a year of hostilities, required Hezbollah to vacate southern Lebanon, and gave Israel 60 days to do so, to be replaced by the Lebanese military and international peacekeepers. Israel has since withdrawn from all but five points overlooking the border.
On Friday, Lebanese President Joseph Aoun said Israel’s continued presence in south Lebanon was preventing the Lebanese army from deploying. The president expressed interest in peaceful relations with Israel but said normalizing relations was off the table for now.
He also reaffirmed his government’s commitment to maintaining a monopoly on arms — a veiled threat against Hezbollah’s extensive arsenal.
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 arms there.
Lebanese President Joseph Aoun delivering a speech after his election in Beirut, on January 9, 2025. (Lebanese Parliament/AFP)
Unprovoked, Hezbollah began firing near-daily rocket attacks at Israel on October 8, 2023 — a day after fellow Iran-backed group Hamas stormed southern Israel to kill some 1,200 people and take 251 hostages, sparking the war in Gaza.
The rocket fire displaced some 60,000 residents of northern Israel. In a bid to ensure their safe return, Israel stepped up operations in Lebanon in September, leading to two months of open warfare with Hezbollah in which the terror group’s leadership was decimated.
END
SYRIA
Sectarian Purge Masked As ‘Wildfire’ Under Syria’s New Government
Sunday, Jul 13, 2025 – 12:50 PM
Less than four months into its rule, Syria’s interim government is under mounting pressure, as each crisis—natural or security-related—casts doubt on its ability to govern and maintain control.
The recent wildfires that tore through northern Latakia were no seasonal accident. They broke out as sectarian killings escalated and suspicions of state complicity grew.
The blaze behind the purge
Never before in Syria had an armed group claimed responsibility for a natural disaster. That changed when Saraya Ansar al-Sunna announced it was behind fires that spread through the Qastal Ma’af region, explicitly stating that the arson attack “led to the fires spreading to other areas, forcing the Nusayris [Alawites] to flee their homes, and causing a number of them to suffocate.”
The statement came just three days into the blazes and only weeks after the same group had claimed responsibility for the June 22 bombing of Mar Elias Church in Damascus’ Douweila neighborhood.
That attack had sparked a rare public dispute between the Interior Ministry and Saraya Ansar al-Sunna. While the ministry blamed ISIS and paraded an arrested cell, the group named a different perpetrator, Muhammad Zain al-Abidin Abu Uthman. Despite vowing to release confessions to back its version, the ministry has remained silent.
Anas Khattab—former Al-Qaeda commander and Nusra Front co-founder, now serving as interior minister—only deepened the contradictions during his visit to the fire zone. He insisted there was “no evidence” of arson, even as his own ministry investigated suspects.
Khattab’s refusal to acknowledge Saraya Ansar al-Sunna suggests that Damascus still considers it a phantom—a position reinforced when ministry spokesman Noureddine al-Baba publicly dismissed it as “imaginary” during a press conference after the church bombing.
At the same time, some Alawites believe that Interior Minister Khattab is using Saraya Ansar al-Sunna to carry out attacks against Alawites, Christians, and other minorities, while maintaining plausible deniability.
Coordinated chaos and forced displacement
In Latakia’s coastal hinterlands, fear was already running high. Many villages had yet to recover from the violence of March, when security raids and sectarian killings devastated entire communities, leaving behind charred homes and mass graves that remain under-reported by official channels.
Only months ago, bloody confrontations claimed 2,000 lives across the region. Locals, mainly from the Alawite community, saw these events as the culmination of a systematic purge under the new regime. A wave of targeted killings, kidnappings, and violence had left communities deeply scarred.
Just days before the fires erupted, the murder of two brothers working as grape leaf pickers, along with the kidnapping of a girl, sparked widespread protests in the Al-Burjan and Beit Yashout areas in the Jableh countryside.
These demonstrations, amplified by diaspora voices, coincided almost to the hour with the first outbreaks of fire, feeding widespread suspicion that the flames were a diversion or smokescreen. On the same day this call was issued, the spread of fires in the Latakia countryside forests began to attract media attention.
The Qastal Ma’af fire—the most intense and destructive—was explicitly claimed by Saraya Ansar al-Sunna. Although the group declared it aimed to displace Alawites, some affected villages housed significant Sunni Turkmen populations. Later, the group issued a cryptic clarification: “The burning of Sunni villages is attributed to Nusayri groups, and this is in the context of the ongoing, raging conflict.”
Local sources tell The Cradle that the fire consumed large swaths of forest and farmland, displacing entire communities. Despite the government’s dismissals, few believe this was a coincidence.
Denial and deception by Damascus
Rather than confront the threat, the Interior Ministry downplayed the human hand in the fires. Observers suggest this was a deliberate choice to avoid validating Saraya Ansar al-Sunna’s claim—and to prevent inflaming sectarian tensions.
But some in the Alawite community accuse Ahmad al-Sharaa’s government of weaponizing fire as a tool of demographic engineering. They point to circulating videos of security forces, Sunni Bedouin groups, and even Turkish-plate vehicles setting fires to Alawite lands.
One Alawite source explains to The Cradle:
“The Alawites rely on their land and employment, while Sharaa seeks to bring about a demographic shift in the coastal region. His aim is to strangle the Alawites and kill them, forcing them either to flee the country or remain amid ongoing cases of murder, abduction, and arson. The objective is clear: displacement and the destruction of every source of livelihood.”
The source adds that on July 9, in the town of Al-Haffa in Latakia, a small fire broke out. Thirty young men rushed to extinguish it—all around 21 years old—including nine Alawites. After the fire was put out, the nine Alawite young men were arrested and mysteriously disappeared.
When their families asked the local authorities regarding their whereabouts, the only response they received was: “We transferred them to Latakia.”
Demographic warfare under the cover of fire
Many Alawites believe Turkey seeks to effectively annex parts of the Syrian coast to seize maritime gas reserves, and that attacks by Turkmen and Uighur militants loyal to Damascus are designed to provoke pleas for Turkish protection.
Historically, arson has not been random in Syria. In 2020, the former government arrested 39 individuals for setting coordinated fires across Latakia, Tartous, Homs, and Hama—allegedly financed by a “foreign party.”
Last year, vast fires scorched Wadi al-Nasara in Homs and later spread to Kasab near the Turkish border. Then-Governor Khaled Abaza admitted, “The multiplicity of fire outbreaks strongly suggests that they were intentional, as between 30 and 40 fires broke out in a single day in various areas of the governorate, especially those rugged areas that are inaccessible to vehicles.” He continued, “A search was launched for two vehicles believed to belong to the arsonists.”
The pattern of politically timed arson is now impossible to ignore. Every major fire in the past five years has coincided with key political milestones such as regime transitions and outbreaks of sectarian unrest, pointing to a deliberate strategy masked as environmental catastrophe.
While poverty and illegal logging are the usual explanations for Syria’s seasonal fires, deeper motives have taken shape. Intelligence services are reportedly scouring Latakia’s forests for buried weapons stockpiles.
Foreign militaries are surveying the terrain for future base sites. Coastal land developers are eyeing scorched villages for luxury tourism projects. And behind it all, Israel remains a constant agitator, stoking sectarian flames for its own expansionist agenda and to further undermine the Resistance Axis.
If anything, the ministry’s insistence on ruling out human involvement in this year’s fires has further eroded public trust. In a country exposed to endless covert operations, the official version of events cannot withstand scrutiny.
In Latakia, what’s burning isn’t just land—it’s the last hope that post-Assad Syria might survive this transition intact.
END
SYRIA
6 killed in clashes between Druze and Bedouin tribes in southern Syrian city
Clashes between Bedouin tribes and local fighters in the predominantly Druze city of Sweida in southern Syria killed six people, local media report.
Citing medical sources, local outlet Sweida 24 gives a preliminary toll of six people killed, “including a child, and about 20 wounded as a result of armed clashes and mutual shelling in the Maqus neighborhood east of Sweida city.”
Syrian authorities do not immediately comment on the incident.
END
SYRIA
37 said killed in deadly clashes in predominantly Druze city in southern Syria
Governor and Druze spiritual leaders call for calm as local fighters battle Bedouin tribes in Sweida; government sends troops to area to impose security
By AFP and ToI StaffToday, 9:21 am
Screen captures from videos purporting to show clashes between Syrian Druze and Bedouin militias in the area of Sweida, southern Syria, July 13, 2025. (X: Used in accordance with Clause 27a of the Copyright Law)
Clashes between Bedouin tribes and local fighters in the predominantly Druze city of Sweida in southern Syria have killed 37 people, a war monitor said Monday, as authorities sent forces to de-escalate the situation.
The clashes are the first outbreak of deadly violence in the area since fighting between members of the Druze community and the security forces killed dozens of people in April and May.
The Syrian Observatory for Human Rights said at least 37 people had been killed, 27 of them Druze, including two children, and 10 of them Bedouin.
It also reported the closure of the Damascus-Sweida highway due to the violence.
Syria’s interior ministry put the toll at “more than 30 deaths and nearly 100 injuries” and said it would deploy troops in coordination with the defense ministry.
Those troops “will begin direct intervention in the area to resolve the conflict, stop the clashes, impose security, pursue those responsible for the incidents, and refer them to the competent judiciary,” an interior ministry statement said.
The Syrian state-run media outlet SANA earlier said the security forces had deployed on the administrative borders between Daraa and Sweida provinces in light of the situation.
Sweida Governor Mustapha al-Bakur called on his constituents to “exercise self-restraint and respond to national calls for reform.”
Several Syrian Druze spiritual leaders also called for calm and asked Damascus to intervene.
Syria’s pre-civil war Druze population numbered around 700,000, with Sweida province home to the sect’s largest community.
Bedouin and Druze factions have a longstanding feud in Sweida, and violence occasionally erupts between the two.
The interior ministry said the violence was “the result of unfortunate armed clashes that broke out between local military groups and clans… against a backdrop of accumulated tensions over previous periods.”
Since the overthrow of longtime Syrian ruler Bashar al-Assad, concerns have been raised over the rights and safety of minorities under the new Islamist authorities, who have also struggled to re-establish security more broadly.
Clashes between the new security forces and Druze fighters in April and May killed dozens of people, with local leaders and religious figures signing agreements to contain the escalation and better integrate Druze fighters into the new government.
During those clashes, Israel carried out a drone strike on an armed group preparing to attack a Druze community near Damascus, and Defense Minister Israel Katz told troops to be prepared to act in Syria in defense of the Druze. Katz and Prime Minister Benjamin Netanyahu said in a message to Syria at the time that Israel “expects it to act to prevent harm to the Druze.” At the time, an IDF helicopter also ferried humanitarian aid to Syrian Druze in the Sweida area.
Israel is home to some 150,000 Druze and has vowed to protect their “brothers” in Syria.
Following the December overthrow of Assad, Syria’s longtime ruler, Israel sent troops into the United Nations-patrolled buffer zone that separated opposing forces on the strategic Golan Heights, from which it had conducted forays into southern Syria.
Immediately after Assad’s ouster, Israel also carried out hundreds of airstrikes in Syria to prevent key military assets from coming under the control of the new administration.
END
SYRIA //ISRAEL
Syrians Fear Israel Normalization Could Trigger Another Countrywide War
Saturday, Jul 12, 2025 – 07:35 AM
Many Syrians fear another country-wide war could erupt if the country’s new post-Assad rulers make peace with Israel through a normalization deal based on Trump’s Abraham Accords.
Last week, Israeli Foreign Minister Gideon Saar told reports that normalization with Syria and Lebanon is on the table, as Prime Minister Netanyahu agrees with Washington on a hoped-for expansion of the Abraham Accords.
“Israel is interested in expanding the Abraham Accords circle of peace and normalization,” Saar said. Israel had already signed deals with the United Arab Emirates, Bahrain, Morocco and Sudan – the result of Trump’s first term in office.
“We have an interest in adding countries such as Syria and Lebanon, our neighbors – to the circle of peace and normalization while safeguarding Israel’s essential and security interests,” Saar added.
PM Netanyahu himself has recently said that the June war with Iran had opened “the path to dramatically enlarge the peace accord.”
From a strategic point of view, Tel Aviv wants to isolate any Arab country which remains resistant and critical of its war in Gaza.
Going back to Hafez al-Assad who ruled Syria since 1970, Ba’ath-ruled Syria had long been Israel’s fiercest enemy and neighbor, with the two having fought several wars.
The average Syrian has long been hugely critical of Zionism and Israeli expansionism, particularly since it came under control of the Golan Heights.
Now under President Sharaa, hundreds of foreign jihadist groups are running around Syria, often persecuting Christians, Alawites, and Druze as Sharaa’s HTS government in Damascus turns a blind eye.
ISIS is also a continuing reality in parts of Syria – though Sharaa himself is ‘former’-ISIS, as are some government ministers and officials.
Strangely, or perhaps unsurprisingly given it was at one point a tool of the US regime change war on Damascus, the Islamic State has never really waged a terror war against Israel. The reality is that Israel was also a big player in the CIA’s regime change operations, dubbed ‘Timber Sycamore’.
end
SYRIA/ISRAEL MONDAY MORNING
Israel is protecting the Druze!
IDF says it carried out strikes against several tanks in southern Syria
By Emanuel Fabian FollowToday, 2:24 pm
The IDF says it carried out a strike a short while ago against several tanks near the Syrian village of Sami’, in the Sweida area of southern Syria.
It says further details will be provided soon.
In the same area, there have been deadly clashes between Bedouin tribes and Druze fighters in recent days. Israel has previously vowed to protect members of Syria’s Druze community.
The strike marks an apparent rare occurrence of Israel striking military forces of Syria’s new government.
Israeli officials have said that they seek to completely demilitarize the southern Syria area, and not allow any armed groups to enter it and gain a foothold, including those of the new Syrian government.
end
RUSSIA VS IRAN
Putin Shifts Iran Stance? Now Reportedly Supports Zero Enrichment Plan Backed By US
Sunday, Jul 13, 2025 – 08:45 AM
Russian President Vladimir Putin has told President Trump that he supports the idea of a nuclear deal in which Iran is unable to enrich uranium, according to US officials who spoke to Axios.
However, amid reports saying that the same message has been conveyed to Tehran, Iran’s semi-official news agency Tasnim denied it, quoting an “informed source” as saying Putin had not sent any such messages.
Russia has long advocated that Iran should have the right to enrich, so Putin signing off on this ‘zero enrichment’ US plan marks what could be a significant shift, and much tougher position. Presumably a scheme like this would involve an external power like Russia shipping in the enriched product needed for nuclear energy plants.
In the wake of the 12-day Iran-Israel conflict, which ended with the US bombing three key Iranian nuclear facilities, Trump has declared as his red line that the Islamic Republic no longer enrich uranium.
Moscow, which has long acted as a diplomatic go-between involving Iran and the US, appears to now side with this US position as a way forward:
Citing three European officials and one senior Israeli official familiar with the matter, the outlet reported that Moscow has encouraged Tehran to accept the “zero-enrichment” condition.
“We know that this is what Putin told the Iranians,” a senior Israeli official was quoted as saying.
But again, the Iranians appear to be denying this, based on current state media reports.
The basic framework of ‘deals’ Washington has offered the Iranians is said to be that Tehran must abandon any all efforts for highly enriched uranium in return for sanctions relief.
“Putin supports the no-enrichment option. He encouraged the Iranians to move in this direction to facilitate dialogue with the U.S. But Tehran refused even to consider this possibility.”
But the Iranians have also been demanding answers to the question of when and how these layers of sanctions will be removed by Washington.
Iranian leaders also don’t trust the US, given a history of flip-flopping on key agreements like the 2015 JCPOA nuclear deal, which Trump pulled out of in 2018, during his first term.
Tehran is expected to reject taking enrichment down to zero, considering it sees as a matter of national sovereignty, but may agree to impose limits on enrichment and a monitoring regimen – though it just reportedly kicked UN IAEA inspectors out of the country.
END
RUSSIA UKRAINE/SUNDAY NIGHT
Six Killed After Over 620 Drones, Missiles Unleashed On Ukraine Overnight
Sunday, Jul 13, 2025 – 02:35 PM
Russia launched over 620 drones and long-range missiles in another massive overnight attack, numbers which come close to the record-setting assault from last week, which consisted of over 700 projectiles.
Ukraine authorities said the aerial attack killed at least six people, and that it highlights the urgent need for the country to obtain more anti-air defense systems from allies, including Patriots from the United States.
“Russia continues its strategy of terror, striking specific cities and regions with concentrated attacks,” Ukrainian President Volodymyr Zelensky said in his nightly address.
He described that many of the drones were decoys or “simulators” which are designed to distract and overwhelm defense systems, making it harder to intercept the actual assault kamikaze drones.
Zelensky further said that included in the overnight aerial attack were 26 cruise missiles, and that some half of all the UAVs were Iranian-make Shaheds.
Hits on southwestern Chernivtsi region saw two people killed and 20 injured, even though this area is far from the front lines of battle with Russian forces.
Another distant place, Lviv in the far western Ukraine, saw a dozen wounded from the attacks, and in the east two people died in Dnipropetrovsk and three were injured in Kharkiv.
President Trump within recent days has ramped-up weapons shipments to Kiev, after the Pentagon had announced a stoppage to arms transfers, which the White House sought to dismiss as a misunderstanding.
Zelensky in his latest remarks further touted progress on a “multi-level agreement” for new American Patriot missile systems and interceptors.
All of this is happening despite US defense officials having long sounded the alarm over diminishing US stockpiles. Many Patriots were used in the latest conflict involving Iran and Israel, and now the US looks to give more away to Ukraine.
The Trump administration has shifted in recent days to claiming that defending Ukraine is ‘America first’ – which is the absolute opposite messaging the White House was advancing earlier in Trump’s term.
end
RUSSIA/UKRAINE/USA
Trump Likely To Announce “Aggressive” US Arms Transfer To Ukraine
by Tyler Durden
Monday, Jul 14, 2025 – 08:30 AM
As if the Big Beautiful Bill’s spending increases, the bombing of Iran, mixed signals on immigration and the suppression of the Epstein files weren’t enough to infuriate Trump voters, now comes news that President Trump is going to announce what a top DC warmonger calls an “aggressive” transfer of offensive weapons to Ukraine. Under the novel arrangement, European countries are supposedly going to foot the bill.
Last week, the administration announced that weapons shipments that had just been halted by Defense Secretary Pete Hegseth over concerns about the depletion of America’s own arsenal were being given a hasty green light after all. Trump broke the news on Monday after last week’s “disappointing” phone call with President Putin, telling reporters he would send “more weapons” to Ukraine. Critically, Trump had emphasized that these would be “defensive weapons primarily.”
Now, two sources tell Axios that it’s likely a new weapons package will include long-range missiles capable of attacking deep inside Russia to include Moscow. They noted that a final decision hadn’t been made. “Trump is really pissed at Putin. His announcement tomorrow is going to be very aggressive,” warmongering South Carolina Sen. Lindsey told Axios.
While MAGA nation and libertarian-minded Trump voters will be disgusted, it’s like a second Christmas in a month for Graham. First delighted by Trump’s decision to engage the US military in Israel’s war on Iran, long-time Ukraine-meddler Graham is now enthusing over Trump’s new escalation. “The game…is about to change,” said Graham in a Sunday appearance on Face the Nation. “I expect in the coming days you will see weapons flowing at a record level...[and] there will be tariffs and sanction available to President Trump he’s never had before.”
The transaction is expected to be announced Monday when Trump meets with NATO Secretary General Mark Rutte. This time around, European countries are expected to pay for American weapons bound for Ukraine. “Basically, we are going to send them various pieces of very sophisticated military [equipment]. They’re going to pay us 100% for them,” Trump told reporters on Sunday. “As we send equipment, they’re going to reimburse us.”
The new arrangement sprang from a suggestion made by Ukrainian President Volodymyr Zelensky at a NATO summit in late June. Striking an exceedingly Trump-like tone, an unnamed US official told Axios, “Zelensky came like a normal human being, not crazy, and was dressed like a somebody that should be at NATO. He had a group of people with him that also seemed not crazy. So they had a good conversation.”
Trump was reportedly angered by his July 3 phone call with Putin, in which the Russian president made clear his intention to escalate the war. Sure enough, that very night Russia launched an apparently record-setting overnight drone attack on Ukraine – said to be among the largest since the war began.
According to the new report, Western and Ukrainian officials are hoping an infusion of weapons will alter Putin’s calculus about his war aims and terms for a ceasefire if not an end to it.
During his 2024 campaign, Trump repeatedly vowed to bring a quick end to the war, variously claiming that he would get it “settled before I even become president” or, at worst, “within 24 hours” of doing so. Now, nearly 6 months into his term, Trump is about to pour more weapons into the 3 1/2-year old war.
In doing so, Trump gives us yet another illustration of Tom Woods‘ Law #3: “No matter whom you vote for, you always wind up getting John McCain.”
end
RUSSIA/USA
‘Big’ Announcement On Russia More TACO: Oil Tumbles As Trump ‘Delays’ Sanctions Threat Against Putin
by Tyler Durden
Monday, Jul 14, 2025 – 11:30 AM
Update(1130ET): The big Monday announcement by President Trump… just the threat of more secondary tariffs on Russia? And venting a little more frustration at no peace progress.
- TRUMP: SEVERE TARIFFS ON RUSSIA IF NO DEAL IN 50 DAYS
- TRUMP THREATENS TO IMPOSE ‘SECONDARY’ TARIFFS ON RUSSIA
- TRUMP REITERATES VERY UNHAPPY WITH RUSSIA
- TRUMP: MADE DEAL TODAY TO SEND WEAPONS TO UKRAINE
- TRUMP: IT’S ALL TALK THEN MISSILES GO INTO KYIV AND KILL
- TRUMP: UKRAINE WILL TAKE THE MILITARY EQUIPMENT FROM NATO
- TRUMP SUGGESTS MORE DYING IN UKRAINE WAR THAN PUBLICLY KNOWN
- TRUMP: SECONDARY TARIFFS VERY POWERFUL
If this is “it”… the “major announcement” on Russia that was planned, then we will say it could have been a lot worse in terms of escalation (such as ramping up more offensive weapons deliveries to Kiev), but amid Trump perhaps poorly managing expectations, people will be asking: that was it? Even RT is chiming in with some light mockery…
Given markets were expecting something more ‘huge’ – oil prices pushed lower on the news of another lengthy timeline of “if no deal in 50 days”…
And yes, there will be some more weapons sent to Ukraine, Trump stated, but they will come via NATO allies, primarily.
Monthly US imports from Russia
Huge threats and a big arms package via European supplies:
President Donald Trump on Monday confirmed that the U.S. has agreed to sell arms to NATO just moments after he said Russian President Vladimir Putin has 50 days to secure a peace deal with Ukraine or face “100%” tariffs.
NATO Secretary-General Mark Rutte said Trump called him on Thursday to confirm he wanted to enter into a deal with NATO allies to sell them arms for aid to Ukraine.
Trump said billions of dollars worth of U.S. arms would be purchased from allies like Germany, Finland and Denmark that will be “quickly distributed” to Ukraine.
* * *
As if the Big Beautiful Bill’s spending increases, the bombing of Iran, mixed signals on immigration and the suppression of the Epstein files weren’t enough to infuriate Trump voters, now comes news that President Trump is going to announce what a top DC warmonger calls an “aggressive” transfer of offensive weapons to Ukraine. Under the novel arrangement, European countries are supposedly going to foot the bill.
Last week, the administration announced that weapons shipments that had just been halted by Defense Secretary Pete Hegseth over concerns about the depletion of America’s own arsenal were being given a hasty green light after all. Trump broke the news on Monday after last week’s “disappointing” phone call with President Putin, telling reporters he would send “more weapons” to Ukraine. Critically, Trump had emphasized that these would be “defensive weapons primarily.”
Now, two sources tell Axios that it’s likely a new weapons package will include long-range missiles capable of attacking deep inside Russia to include Moscow. They noted that a final decision hadn’t been made. “Trump is really pissed at Putin. His announcement tomorrow is going to be very aggressive,” warmongering South Carolina Sen. Lindsey told Axios.
While MAGA nation and libertarian-minded Trump voters will be disgusted, it’s like a second Christmas in a month for Graham. First delighted by Trump’s decision to engage the US military in Israel’s war on Iran, long-time Ukraine-meddler Graham is now enthusing over Trump’s new escalation. “The game…is about to change,” said Graham in a Sunday appearance on Face the Nation. “I expect in the coming days you will see weapons flowing at a record level...[and] there will be tariffs and sanction available to President Trump he’s never had before.”
NATO Secretary General Mark Rutte. This time around, European countries are expected to pay for American weapons bound for Ukraine. “Basically, we are going to send them various pieces of very sophisticated military [equipment]. They’re going to pay us 100% for them,” Trump told reporters on Sunday. “As we send equipment, they’re going to reimburse us.”
The new arrangement sprang from a suggestion made by Ukrainian President Volodymyr Zelensky at a NATO summit in late June. Striking an exceedingly Trump-like tone, an unnamed US official told Axios, “Zelensky came like a normal human being, not crazy, and was dressed like a somebody that should be at NATO. He had a group of people with him that also seemed not crazy. So they had a good conversation.”
Trump was reportedly angered by his July 3 phone call with Putin, in which the Russian president made clear his intention to escalate the war. Sure enough, that very night Russia launched an apparently record-setting overnight drone attack on Ukraine – said to be among the largest since the war began.
According to the new report, Western and Ukrainian officials are hoping an infusion of weapons will alter Putin’s calculus about his war aims and terms for a ceasefire if not an end to it.
During his 2024 campaign, Trump repeatedly vowed to bring a quick end to the war, variously claiming that he would get it “settled before I even become president” or, at worst, “within 24 hours” of doing so. Now, nearly 6 months into his term, Trump is about to pour more weapons into the 3 1/2-year old war.
In doing so, Trump gives us yet another illustration of Tom Woods‘ Law #3: “No matter whom you vote for, you always wind up getting John McCain.”
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUES
MARK CRISPIN MILLER
Is Trump Adoration Syndrome any better than Trump Derangement Syndrome? No, because they’re BOTH fanatically insane, threatening to destroy you if you disagree
And they’re interrelated: If not for TDS—and the total breakdown of the Democratic Party—Trump would likely not be in the White House, hero-worshipped by his feral courtiers and credulous supporters
| Mark Crispin MillerJul 12∙Preview |
Our latest compilation of celebrity diseases likely caused by COVID “vaccination” started with the case (I use the word advisedly) of Donald Trump, or—to be more accurate—Trump 47, since he’s clearly not the man he was last time around; and we naturally began that compilation with the president’s condition (whatever it may be, exactly), since he is, beyond question, the most famous of the ailing stars we noted earlier. Therefore the title of that post starts with the cautious sentence, “There’s something wrong with Trump 47.”
Of course, “the news” is overflowing with stuff about the signs, or seeming signs, of Trump’s possible decline, and—of course—much of it is overblown, or just rank speculation, since “our free press” routinely skews the facts to nail this president, and always has. Thus the press has long since lost all credibility, and not just with Trump’s base; which is, to say the least, a shame, since that vitriolic bias has now made it unlikely that millions will believe a word of what they say, no matter how well-evidenced or consequential. Thus “our free press” is like the boy who cried wolf, with the difference that that boy only warned and warned and warned of an approaching predator, whereas “our free press” has, all along, not only done the same with Trump, but has also freely interspersed its cries of fear with honks of ridicule, deriding everything he says and does, his looks, his clothes, his taste, his wife, his house, his hair, you name it.
This raging bias, as I say, is—or, rather, was—a shame, since it’s a betrayal of proper journalism, and therefore has destroyed the media’s credibility, except with the Blue Meanies who crave such trivial and nasty “coverage.” So it surely was the last time Trump occupied the Oval Office; but, this time around, the media’s disgraceful practice isn’t just a shame, but a catastrophe, since Trump 47 is, in fact, not comparable to the restrained, albeit provoking, character between Obama and “Joe Biden.” Trump today is (as I noted in my previous post about him) a very different Chief Executive, who’s doing things that should be urgently reported, and that “our free press” is (sometimes) reporting, but his fans bristle at any and all coverage that is not as sycophantic as Trump and his courtiers want it to be—or else. Had the media not gone hog wild on “Russia-gate,” lionized Stormy Daniels, and otherwise kept shrieking about trivial or non-existent scandals, they’d be far better able to report those bad ideas and vicious practices the likes of which we did not see in Trump 45; and, in that imaginary case, Trump’s followers, or some of them, would be far likelier to listen than to seethe.
My prior post on Trump, who’s covered in the second section of this piece:
Here, I admit, I’m being a bit naive, since I suspect Trump was placed in power, precisely to divide the country, with the professional classes facing off against the working people, blacks against whites, coasts against the heartland. (He was also used to split the country over COVID, just as Bush/Cheney were installed in time for 9/11, and then to pursue the “war on terror.”) That Trump was “placed” in office was apparent from the weird forensics of his first election (or “election”), which tells us that (God forbid) Hillary did win, just as the pre-election polls foretold; and Trump’s team knew it, too, which is why he went home early on Election Night, and why his people didn’t even bother drafting an acceptance speech (according to Anthony Scaramucci). When we look back at Trump’s first campaign, moreover, we note how many sizable constituencies he seemed to go out of his way to rile—Afircan-Americans, the disabled, veterans groups, Muslims—suggesting that he didn’t really want to win, or was ambivalent about it (perhaps, as rumor had it, because his real wish was to start up his own TV network).
This reading of his win (or “win”) is anathema to Trump’s most dedicated followers, who need to think that, thanks to them, he “beat the deep state” in a triumph for American electoral democracy, despite the dirty tricks deployed against him. That optimistic view betrays a wide-eyed unawareness of how “our” elections really work, and have since 1964—the first time that computers were used to count the vote. (Ask yourself how that anti-democratic innovation related to what went down in Dallas on 11/22/63.) No one can get honestly elected with the system we have now, nor could one even get to be the nominee without the blessing and assistance of the CIA, which has for decades, since JFK, rigged elections all around the world, or, failing that, toppled governments headed by some “wrong” contender. Thus, despite the wishful thinking of his fans, Trump couldn’t have prevailed if those who work both parties’ strings did not prefer him to serve their purposes.
Just as they did when Bush/Cheney won both their “surprise victories,” which contradicted all the most trustworthy pre-election polls, so did “our free press” rush to claim, on the basis of no evidence whatsoever, that all the pre-election polls in 2016 were “wrong” about a Clinton victory. (Clinton “lost” for Trump’s sake just as she had “won” her party’s nomination at the expense of Bernie Sanders—who, four years later, “lost” again for Kamala Harris’s sake. The Democrats’ commitment to electoral integrity is clear enough from Sanders’ muteness on his two “defeats,” and Clinton’s muteness on her own, except for her completely groundless claims that “Putin” had defeated her.)
The religious fury that swells in the hearts of Trump’s devotees broke out into the open at a health freedom rally where I spoke back in 2021, doing well with all the crowd until I mentioned, passingly, the oddities about Trump’s first election. As I tried to get into the details of that “win,” a trio of young women snapped to life, and starting shrilly chanting, “Trump won! Trump won! Trump won!”—sitting so close to the stage that I had to stop, until the woman managing the rally asked them to pipe down. I then went on, in spite of those three true believers glaring at me.
I tell this story as a preface to what’s happened recently, in reaction to my recent compilation of celebrity ailments, with the first line of its title: “There’s something wrong with Trump 47.” This vague and innocuous statement made some few readers go ballistic, in part because of my inclusion of two articles on the concerns of certain Trump insiders vis-a-vis his mental health—one in the Irish Star, an anti-Trump organ, and one in Raw Story, quoting anti-Trump conservative Charlie Sykes. My critics were incensed that I had quoted those two pieces—and I get it, since Raw Story especially is one of the multitude of sloppy, violently biased “leftist” rags that have been trashing Trump from the beginning. On the basis sheerly of its record, then, my critics have a point; and since Sykes is notoriously anti-Trump, they have a point there, too.
That’s all very well; but what if it’s true that Trump 47 may be out to lunch? To blow such “leftist” coverage off because you don’t like what it says is just as blinding as it is to spurn Fox News, or the New York Post, or Alex Jones because you don’t like what they say, regardless of its truthfulness. In short, we have to check what all such outlets say, and thereby see if it’s feasible, confirmed by other sources and the evidence of our own senses. This is what I did with that last piece (like all my pieces), which had my explosive readers charging me with “hating Trump,” and/or with “Trump Derangement Syndrome,” when I don’t hate Trump at all, and have always spoken out against that incapacitating “liberal” mental illness.
But let us turn from that condition, which long ago reached epidemic levels on the “left,” and look into its opposite: Trump Adoration Syndrome, a disorder common on the right; although that syndrome is fading fast, as ever more Trump voters have been moved to change their minds by what Trump’s done, or plans to do, since his inauguration. Thus, while it’s always been impossible to get a stalwart “leftist” to rethink his or her assumptions (as with COVID and the jab), ever more of Trump’s supporters have now had a very rude awakening, since his agenda has turned out to threaten them, along with contrary Democrats, inadequately loyal Republicans, journalists insisting (even without malice) on an answer, and all immigrants, legal or illegal, as well as citizens with foreign-sounding names…
DR PAUL ALEXANDER
‘A pat on the back on the way to the gallows…’; mass vaccination using a non-sterilizing non-neutralizing Malone et al. mRNA shot, immune pressure, infectious pressure, disregarding the evolutionary
adaptation: ‘immune pressure or adaptation, any mutation or combination that further suppresses both antiviral and inflammatory components of innate immunity could severely weaken this most basic,
| Dr. Paul AlexanderJul 12 |
immune pressure or adaptation, any mutation or combination that further suppresses both antiviral and inflammatory components of innate immunity could severely weaken this most nonspecific line of immune defense.
Geert Vanden Bosshe again provoked deep and serious thought. He cannot be disregarded. He has led the way in our understanding of the evolutionary dynamics when you mass vaccinate across all age-groups into the midst and teeth of a pandemic or virus outbreak using a ‘leaky’ imperfect non-sterilizing vaccine (that does not stop infection or transmission as the Malone mRNA vaccine failed to do); the result can only be viral immune escape, original antigenic sin/immune imprinting/priming, pathogenic priming, antibody dependent enhancement of infection (ADEI) and of disease (ADED) etc…
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.
Geert:
‘For example, suppression of humoral innate immune responses in XFG descendants may facilitate the stochastic emergence and accumulation of additional mutations in chronically infected individuals, some of which could enhance the virus’s ability to evade interferon-mediated innate immunity and/or innate immune sensing without compromising intrinsic viral infectiousness. When combined with failing adaptive immunity, this would inevitably result in immune tolerance and consequently trigger unchecked viral replication and dissemination of the virus within the host — and even on a large scale due to the associated increase in inter-host transmission of the virus.”’
‘The hoarse voice—without accompanying sore throat—regularly caused by infections with XFG (sub)variants (the so-called Stratus variant) is a clear sign of suppressed local inflammatory symptoms. As long as the remaining cell-mediated innate immunity (mainly in the unvaccinated) or adaptive immunity (mainly in the vaccinated) is still strong enough to eliminate the virus in time or to prevent symptoms, respectively, hoarseness remains practically the only notable sign of an XFG infection.’
A pat on the back on the way to the gallows…
“As the vaccine-induced antibodies (i.e., humoral immunity) exerted growing selective pressure, viral variants were selected that increasingly escaped this pressure, became more infectious, and thereby sustained viral transmission. As vaccine-induced antibodies lost their neutralizing capacity, T cells were increasingly recruited in an attempt to control rapid intra-host viral replication. However, these T cells were equally ineffective at controlling inter-host transmission. Because this T cell recruitment resulted from immune refocusing, the newly mobilized immune responses became progressively less specific—that is, increasingly less directed against the intended target antigen (e.g., the receptor-binding domain of the spike protein).Whereas the initial vaccine-driven immune selection pressure was very high—resulting in the rapid and spectacular emergence of Omicron—the subsequent immune pressure, driven by less target-specific antibodies and T cells, led to the selection of an increasingly broad spectrum of circulating immune escape variants (i.e., causing large-scale immune escape). Despite their genetic diversity, these variants shared one key trait: enhanced intrinsic infectivity. As the prevalence of vaccine breakthrough infections (VBTIs)—and consequently, immune refocusing—increased, a growing number of immune effector cells were recruited that exerted little or no impact on viral infectivity, thereby further reducing the immune selection pressure exerted by highly C-19 vaccinated populations. This explains the observed decline in the rate of emergence of new viral immune escape variants in the post-Omicron era.”
and
Viral gain-of-function is associated with immunological pain-of-function as mass C-19 vaccination turned an acute, self-limiting pandemic into a chronic, self-perpetuating immune escape epidemic
‘Scientists and so-called public health experts have fundamentally misjudged the Covid-19 (C-19) pandemic because they remain blinded—fixated on snapshots rather than analyzing the evolutionary dynamics that govern its course. This explains why they have long lost sight of the forest for the trees, mistaking the immune system’s final convulsions for a stable form of protective herd immunity—one they believe can be sustained through continued vaccination and boosters. Yet, it has become unmistakably clear that, compared to the early stages of the pandemic, the virus has grown increasingly infectious, while the collective immune defense in highly C-19-vaccinated populations has become progressively less effective.
As the vaccine-induced antibodies (i.e., humoral immunity) exerted growing selective pressure, viral variants were selected that increasingly escaped this pressure, became more infectious, and thereby sustained viral transmission. As vaccine-induced antibodies lost their neutralizing capacity, T cells were increasingly recruited in an attempt to control rapid intra-host viral replication. However, these T cells were equally ineffective at controlling inter-host transmission. Because this T cell recruitment resulted from immune refocusing, the newly mobilized immune responses became progressively less specific—that is, increasingly less directed against the intended target antigen (e.g., the receptor-binding domain of the spike protein).Whereas the initial vaccine-driven immune selection pressure was very high—resulting in the rapid and spectacular emergence of Omicron—the subsequent immune pressure, driven by less target-specific antibodies and T cells, led to the selection of an increasingly broad spectrum of circulating immune escape variants (i.e., causing large-scale immune escape). Despite their genetic diversity, these variants shared one key trait: enhanced intrinsic infectivity. As the prevalence of vaccine breakthrough infections (VBTIs)—and consequently, immune refocusing—increased, a growing number of immune effector cells were recruited that exerted little or no impact on viral infectivity, thereby further reducing the immune selection pressure exerted by highly C-19 vaccinated populations. This explains the observed decline in the rate of emergence of new viral immune escape variants in the post-Omicron era.
Moreover, the exuberant stimulation of dysfunctional T cells—often cross-reactive with self-antigens—has led to a slowly evolving immune pathology, commonly referred to as ‘Long COVID’. This syndrome involves autoreactive immune responses that target one or more organs. Notably, certain subsets of autoreactive regulatory T cells can suppress anti-tumor immunity, and their hyperstimulation during VBTIs—and thus immune refocusing—has undoubtedly played a role in the explosive emergence of multi-organ cancers in highly C-19 vaccinated populations. VBTI-mediated immune refocusing following Omicron emergence has therefore turned what were once beneficial immune responses into harmful, dysfunctional immunity.
The immuno-virological trajectory depicted above illustrates how an acute, self-limiting pandemic has been irreversibly transformed into a chronic, progressive one—where acute symptoms increasingly evolved into chronic disease.
Based on the above, it is reasonable to conclude that the emergence of more infectious immune escape variants has unambiguously led to a less targeted and therefore less effective immune response—characterized by increased viral immune escape and a shift from acute to chronic symptomatology.
Voice for Science and Solidarity by Geert Vanden Bossche is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
NEWS ADDICTS
| LATEST REPORTS FOR NEWS JUNKIES |
| 2 Killed, Multiple People Injured in Kentucky Church ShootingA quiet Sunday morning turned deadly in Lexington, Kentucky, after a gunman shot a state trooper and killed two women during a rampage that ended at a local church. Authorities say the shooter was ultimately killed by police.Traffic Stop Turns ViolentAccording to Lexington Police Chief Lawrence Weathers, the incident began around 11:30 a.m. when a Kentucky state trooper pulled over …READ THE FULL REPORT |
| Watch: Trump Joins Chelsea’s Celebrations After Handing Them Club World Cup TrophyPresident Donald Trump lit up the global stage on Sunday night at the Club World Cup Final, held in the United States ahead of the 2026 FIFA World Cup.The event featured Chelsea FC of London taking on Paris Saint-Germain (PSG) of France. Chelsea dominated with a three-goal win, adding another trophy to their already stacked cabinet.But it wasn’t just the …READ THE FULL REPORT |
| ICE: Rep. Salud Carbajal Doxxed ICE Agent to Left-Wing GroupU.S. Immigration and Customs Enforcement (ICE) is accusing Rep. Salud Carbajal (D-CA) of actively aiding a violent mob during a federal law enforcement operation — including doxxing an ICE agent who was later left bloody after being attacked by protesters.The incident took place during a lawful criminal search warrant at Glass House Farms marijuana facilities in Camarillo and Carpinteria, California.ICE: …READ THE FULL REPORT |
| Watch: Tom Homan Rips Heckler at TPUSA EventFormer acting ICE Director Tom Homan didn’t hold back Saturday night when a heckler tried to disrupt his speech at Turning Point USA’s Student Action Summit.While addressing the crowd about border enforcement and illegal immigration, Homan was interrupted by someone yelling: “Are you an MS-13 member?”The crowd immediately booed the heckler, who held up a picture of Homan with fake …READ THE FULL REPORT |
| Trump Gets ‘Ratioed’ on Truth Social for 1st Time Amid Epstein BacklashFor the first time in recent memory, President Donald Trump was ratioed on Truth Social — not by the Left, but by his own supporters demanding answers about the Jeffrey Epstein scandal.The BacklashThe uproar followed Trump’s Saturday statement defending Attorney General Pam Bondi amid internal DOJ tensions over Epstein case files.Deputy FBI Director Dan Bongino reportedly erupted on Bondi last …READ THE FULL REPORT |
NEWSWIZE
| LATEST REPORTS FOR NEWS JUNKIES |
| Report: FBI Director Kash Patel Considering Resigning If Bongino LeavesTensions inside the Trump administration’s top law enforcement agencies have reached a boiling point, with FBI Director Kash Patel now reportedly considering resignation if Attorney General Pam Bondi remains in her post.The news comes just hours after Deputy FBI Director Dan Bongino took the day off following a blowout with Bondi over the botched handling of the Epstein files — …READ THE FULL REPORT |
| White House Releases Statement on Bondi-Bongino Clash Over Epstein FilesThe White House released a statement Friday addressing the explosive feud between Attorney General Pam Bondi and FBI Deputy Director Dan Bongino, which erupted earlier this week over the DOJ’s handling of the Jeffrey Epstein files.Sources close to the matter say Bongino is prepared to resign unless Bondi is removed.What HappenedThe standoff began Wednesday during a high-level meeting between Bondi, …READ THE FULL REPORT |
| Man Arrested After Threatening to Shoot Trump During Texas Flood VisitPresident Donald Trump traveled to flood-ravaged Kerr County, Texas on Friday to meet with victims and thank first responders — but not everyone welcomed the visit.Robert Herrera, 52, of San Antonio was arrested Thursday night after allegedly threatening to assassinate the president on social media.According to a statement from the U.S. Attorney’s Office for the Western District of Texas, Herrera …READ THE FULL REPORT |
| Trump Calls Pete Hegseth ‘Secretary of War’President Donald Trump announced on Truth Social this week that he now refers to Pete Hegseth as Secretary of War, not Defense — signaling a bold return to America’s military strength.The president praised Hegseth after his Fox News segment detailing the latest in military weapons and strategy, calling him a “true warrior” and suggesting it’s time to ditch the politically …READ THE FULL REPORT |
| Here Are the 5 Republicans Holding Up the Trump-Backed DOJ Cuts PackagePresident Trump’s $9.4 billion recissions package—a key part of his push to shrink the federal government—is now at risk in the Senate.Although the House already passed the bill, five Senate Republicans are trying to block it from reaching Trump’s desk before the July 18 deadline.What’s in the Bill?The legislation would:Defund National Public Radio (NPR) and PBSEliminate wasteful agencies like USAID …READ THE FULL REPORT |
EVOL NEWS
| TEST NEWS: |
| Secret Service Briefed on Threat to Trump 10 Days Before Butler Assassination Attempt – EVOL |
| Read more… |
MICHAEL EVERY/OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS
The King Of Fedsailles
Monday, Jul 14, 2025 – 11:45 AM
By Bas van Geffen, Senior Macro Strategist at Rabobank
Team Trump has not lessened their attacks on Fed Chair Powell. Last week, the Director of the Office of Management and Budget berated Powell for what he considers to be “too lavish” of a renovation of the Federal Reserve building – or in Vought’s own words, “Versailles on the National Mall.” Speaking on CNBC, the OMB director spoke about “fundamental mismanagement” at the Fed.
National Economic Council Director Hassett, tipped to maybe replace Fed Chair Powell, said: “If there is cause to fire Powell, Trump has the authority to do so”, as another candidate Warsh and Vice President Vance joined in on the attack – which looks coordinated.
Is the Trump administration creating another bit of pre-text for firing Powell? Because it’s not like Powell is the new Sun King, its just that rates aren’t sinking. Yet, despite all the criticism, Trump still insists he will not fire Powell. Does he just want to have a scapegoat?
Meanwhile, the word “walls” must have come up during the discussions of the US’ own Versailles, and Trump knows exactly who should pay for those. Over the weekend, the US president threatened to slap a 30% tariff on Mexican goods. However, if exceptions continue to apply for goods that comply with the USMCA trade agreement, the impact of this tariff hike will be fairly limited.
The European Union will also be subject to a 30% tariff, unless the two sides can reach another agreement in the next two weeks. Arguably, that’s progress? I mean, it’s less than the 50% Trump had threatened to impose when trade negotiations did not progress as quickly as he likes. (But the rate is still higher than the 20% Trump unveiled on Liberation Day, and higher than the level Europe would be willing to accept.)
That also seems to be the Brussel’s interpretation of events: it’s Trump’s negotiating style to put more pressure on the other side in the final stages before a deal is reached. And, as one official put it, Trump will never go through with this, because markets.
European equity markets will undoubtedly trade heavy on the back of these tariff announcements, and the EUR has dropped below 1.1660 at the time of writing.
And so, European leaders have decided to once again postpone the rebalancing tariffs that have been pending ever since the US raised tariffs on steel and aluminium imports – hoping that they can still clinch a compromise that is acceptable to both sides. Trade Commissioner Sefcovic will speak with his American counterparts later today.
Meanwhile, the EU also wants to cooperate with other nations that are hit by US tariffs – to do what exactly? The UK seems resigned to the fact that Trump’s baseline tariffs are here to stay.
The EU may seek to reduce its dependence on the US. Japan and the EU plan to create a joint military satellite network, and to start joint development of weapons systems. But none of that is ready overnight, as Germany’s minister of Defence is telling the weapons industry to deliver without further delays. (Or what?)
So, for the time being, Europe remains very much dependent on the Americans. President Trump is due to make an announcement on Russia today. According to Axios’ sources, the president will provide Ukraine with sophisticated military equipment – and not just the defensive kind, but also long-range missiles that could reach targets deep inside Russian territory. And these will be paid for by the EU.
None of this will be cheap, as an FT op-ed underscores the urgent need to Make America Affordable Again. And that doesn’t just go for the US. The Australian Treasury mistakenly let the national broadcaster know it sees taxes need to rise and that not enough houses will be built.
Meanwhile, Prime Minister Albanese, currently in China, refused to answer questions on Australia’s future position on a war between its security shield, the US, and its top export partner, China. But Australia is shocked the US might not commit to its defence; will we see higher tariffs on Australia, or will the US squeeze them in other ways?
7. OIL /ENERGY ISSUES/WORLD WIDE
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUE
CANADA/USA
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS MONDAY MORNING 6;30AM//OPENING AND CLOSING
EURO/USA: 1.1695 DOWN 0.0014 PTS OR 14 BASIS POINTS
USA/ YEN 147.25 DOWN 0.063 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 1.3489 UP .0011 OR 11 BASIS PTS
USA/CAN DOLLAR: 1.3671 DOWN 0.0007(CDN DOLLAR UP 7 BASIS PTS)
Last night Shanghai COMPOSITE UP 9.47 PTS OR 0.27%
Hang Seng CLOSED UP 63.75 PTS OR 0.21%
AUSTRALIA CLOSED DOWN 0.06%
// EUROPEAN BOURSE: MOSTLY ALL RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: MOSTLY ALL RED
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 63.75 PTS OR 0.21%
/SHANGHAI CLOSED UP 9.47 PTS OR 0.27%
AUSTRALIA BOURSE CLOSED DOWN 0.06 %
(Nikkei (Japan) CLOSED DOWN 110.06 PTS OR 0,28%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 3371.20
silver:$39.05
USA dollar index early MONDAY morning: 97.51 DOWN 2 BASIS POINTS FROM FRIDAY’s CLOSE
MONDAY MORNING NUMBERS ENDS
And now your closing MONDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.181% UP 3 in basis point(s) yield
JAPANESE BOND YIELD: +1.572% UP 6 FULL POINTS AND 01/100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.326 UP 6 in basis points yield
ITALIAN 10 YR BOND YIELD 3.612 UP 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.724 UP 4 BASIS PTS
IMPORTANT CURRENCY CLOSES : MID DAY MONDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.1681 DOWN 0.0008 OR 8 basis points
USA/Japan: 147.34 UP 0.032 OR YEN IS up 3 BASIS PTS//
Great Britain 10 YR RATE 4.6060 DOWN 2 BASIS POINTS //
Canadian dollar DOWN .0013 OR 13 BASIS pts to 1.3697
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The USA/Yuan CNY UP AT 7.1642 CNY ON SHORE ..
THE USA/YUAN OFFSHORE UP TO 7.1705
TURKISH LIRA: 40.22 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +1.572
Your closing 10 yr US bond yield DOWN 2 in basis points from FRIDAY at 4.409% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.963 UP 1 in basis points /11:00 AM
USA 2 YR BOND YIELD: 3.881 DOWN 3 BASIS PTS.
GOLD AT 11;00 AM 3357.10
SILVER AT 11;00: 38.82
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: MONDAY CLOSING TIME 11:00 AM//
London: CLOSED UP 56.94 PTS OR 0.64%
GERMAN DAX: DOWN 94.67 pts or 0.39%
FRANCE: CLOSED DOWN 21.12 pts or 0.27%
Spain IBEX CLOSED UP 26.80 pts or 0.19%
Italian MIB: CLOSED UP 108.47 or 0.27%
WTI Oil price 68.47 11 EST/
Brent Oil: 70.40 1:00 EST
USA /RUSSIAN ROUBLE /// AT: 77.61 ROUBLE UP 0 AND 34/ 100
CDN 10 YEAR RATE: 3.501 DOWN 1 BASIS PTS.
CDN 5 YEAR RATE: 3.023 DOWN 1 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1667 DOWN 0.0015 OR 15 BASIS POINTS//
British Pound: 1.3429 DOWN .0050 OR 50 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.5940 DOWN 4 FULL BASIS PTS//
JAPAN 10 YR YIELD: 1.577 UP 5 FULL BASIS PT
USA dollar vs Japanese Yen: 147.71 UP 0.403 BASIS PTS
USA dollar vs Canadian dollar: 1.3698 UP 0.0021 BASIS PTS// CDN DOLLAR DOWN 21 BASIS PTS
West Texas intermediate oil: 67.11
Brent OIL: 69.27
USA 10 yr bond yield UP 0 BASIS pts to 4.425
USA 30 yr bond yield UP 1 PTS to 4.969%
USA 2 YR BOND: DOWN 2 PTS AT 3.898%
CDN 10 YR RATE 3.516 UP 0 BASIS PTS
CDN 5 YEAR RATE: 3.046 UP 1 BASIS PTS
USA dollar index: 97.78 UP 25 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 40.17 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 77.36 UP 0 AND 58/100 roubles
GOLD $3347.80 (3:30 PM)
SILVER: 38.18 (3:30 PM)
DOW JONES INDUSTRIAL AVERAGE: UP 88.14 OR .20%
NASDAQ 100 UP 75.04 PTS OR 0.33%
VOLATILITY INDEX: 17.25 UP 0.85 PTS OR 5.18%
GLD: $ 308.01 DOWN 0.43 PTS OR 0.37%
SLV/ $34.43 DOWN 0.40 PTS OR OR 1.14%
TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 165.88 PTS OR .61%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING
Gold, Oil, & Crypto Pump’n’Dump Amid “Incredibly Quiet” Stock Trading Ahead Of CPI
Monday, Jul 14, 2025 – 08:00 PM
No macro today as the world and his pet rabbit wait on tenterhooks for tomorrow’s CPI.
As Goldman’s Edoardo Lorenzo Greco noted very succinctly:
This is a F.E.A.R market: Face Everything And Recover; not a fearful one!
Put aside terrible breadth, worsening seasonals & the growth in net leverage over the past few weeks for a sec, and focus on:
A) realized vol moving lower and lower: 100d SPX realized vol is 26, it gets halved on 50d observation and it’s 70% lower on 10d horizon (i.e. 8 vol);
B) it’s not only that the bar into reporting is low, it’s more that it marks the bottom for EPS growth, expected to re-accelerate to double-digit in ’26;
C) the curve steepening continues as a function of Trump’s sleeper cell in the Fed meaningfully more dovish (Bowman, Warsh, Waller) with CPI tomorrow not yet the print increasing inflation worries & a back-end that globally struggles to get a bid – not only US but also Japan, France: if fiscal consolidation doesn’t occur soon, only a higher inflation regime can save the game gently. Bitcoin and Equities at the highs are the epitome of a risk-on/higher-inflation backdrop. If we were badly worries on the cycle/inflation, you’d have to substitue equities with gold;
D) no recession: no matter how much tariffs you throw in the mix, GS Research estimates don’t envisage a recession and the path for the USD remains for further depreciation, relaxing FCI globally, particularly EM;
E) GS Strategists are still constructive, with Kostin upping S&P target to 6,900 and Mueller-Glissmann calling for OW in Equities in 12m.
Today was an “incredibly quiet start to the week” according to Goldman Sachs equity trading desk, with volumes continuing to slow even as we head into earnings – Friday and today will be the two slowest consecutive sessions in 3 weeks.
Non-fundamental demand remains a mixed bag: Corporates are still on the sidelines as we start 2Q eps season, however CTA demand in flat tape scenarios is picking up… over the next 1mth we model +$92B globally and +$30B locally.
Interestingly, Retail feels much less involved this so far – one easy way to tell: NVDA is the 3rd most active stock on the session (on “heavy” Retail days, there are generally a dozen or so penny stocks that are more active)
First the CTAs bail, now it’s retail
“Retail feels much less involved this so far – one easy way to tell: NVDA is the 3rd most active stock on the session (on “heavy” Retail days, there are generally a dozen or so penny stocks that are more active)” – Goldman https://t.co/T1aibUisFu
— zerohedge (@zerohedge) July 14, 2025
Overall, after an ugly futures open last night, US equities were higher today with Small Caps (short squeeze) and Nasdaq outperforming (with aggressive buying at the European and US open)…
Goldman’s trading floor tilts -1% better for sale with clear dichotomy btw HFs and LOs
- HFs are +4% better to buy, with demand ranking in the 75th %-ile. Demand for Comm Svcs, Consumers & Fins is offsetting supply across Industrials, HCare and Materials
- LOs are -7% better for sale driven by supply in Tech, Cons Disc & HCare. Demand is modest across Fins, Energy and Staples.
Interestingly, given Nasdaq’s outperformance, it was the S&P 493 that outperformed the Mag7 today…
Source: Bloomberg
‘Shorts’ were squeezed yet again…
Source: Bloomberg
Momo names bounced back a little today (but we saw the same kind of price action last week and it didn’t end well)…
Source: Bloomberg
Realized vol continues to tumble (now sub-10), leading implieds lower…
Source: Bloomberg
…but we note that today was one of those more ominous ‘Spot Up, Vol Up’ days that tend to be crescendo-like for any short-term tactical gains…
Source: Bloomberg
Treasuries were also vew vewy qwiet today with yields up extremely modestly (+1-2bps across the curve)…
Source: Bloomberg
Away from equities and bonds, we saw a series of pump’n’dump price swings.
Gold broke above $3370 before tumbling back to $3350 (but holding well above the 50DMA at $3325)…
Source: Bloomberg
WTI Crude prices spiked above $69.50 before tumbling back to earth, below $67 following Trump’s weaker-than-expected ‘delay’ on Russian sanctions…
Source: Bloomberg
Bitcoin soared above $123,000 (record highs) before roundtripping back to $120,000…
Source: Bloomberg
Bitcoin has a way to go yet though…
Source: Bloomberg
BTC ETF inflows continue to surge…
Source: Bloomberg
…and ETH ETF inflows have been dramatic too all of a sudden…
Source: Bloomberg
Taking of price swings, the dollar rallied again today (up for the 8th day in a row – the longest win streak since Oct 2024)
Source: Bloomberg
Finally, vol markets are primed for some action tomorrow as CPI hits (and bank earnings)…
Source: Bloomberg
…but after that expect the vol-selling, spot-dip-buyers to resume (even as the seasonally favorable first half of July comes to an end).
BIG NEWS OF THE DAY
USA DATA RELEASES
USA ECONOMIC NEWS
Tensions Explode Between Bongino And Bondi Amid DOJ Epstein Memo Fallout: Reports
Friday, Jul 11, 2025 – 04:50 PM
Speculation is mounting that FBI Deputy Director Dan Bongino is furious over the Department of Justice’s explosive memo concerning Jeffrey Epstein, with anonymous sources claiming he has issued a stark ultimatum to the White House: dismiss Attorney General Pam Bondi or he will resign from his position.
Axios, citing four sources familiar with the matter, reported Friday morning that FBI Deputy Director Dan Bongino was absent from work following a heated confrontation with Attorney General Pam Bondi over the handling of the Jeffrey Epstein files. The Washington insider outlet noted that Bongino’s absence sparked speculation about whether he had resigned, though a White House source quickly clarified that he remains in his role at the FBI.
This week, federal law enforcement released a memo asserting that an “exhaustive review” of evidence from Jeffrey Epstein’s death at the Metropolitan Correctional Center in New York City conclusively ruled out murder.
“Following a comprehensive investigation, FBI investigators determined that Jeffrey Epstein died by suicide in his cell on August 10, 2019,” the memo stated.
The agencies also firmly denied the existence of a “client list” linked to Epstein, directly contradicting earlier statements by Attorney General Pam Bondi. Bondi had previously claimed on Fox News that such a list was “sitting on my desk” for review, fueling speculation about Epstein’s alleged blackmail of global elites.
By Friday afternoon, reports indicated that tensions between FBI Deputy Director Dan Bongino and Bondi were escalating, with the FBI official reportedly contemplating resignation if Bondi remains in her role.
“Source close to Dan Bongino tells me it’s either him or Pam Bondi, and that he won’t stay at FBI if she stays at DOJ,” The Daily Wire’s White House correspondent Mary Margaret Olohan posted on X.
Independent journalist Julie Kelly corroborated Olohan’s reporting, writing on X: “Sources confirm to me the blow up between Dan Bongino and Pam Bondi is very real. This has been brewing for four months and came to a head at the White House on Wednesday.”
“He has not been in the office since. Most of the frustration at [the] FBI relates to her handling of Epstein disclosures and disputes between [the] FBI and Bondi about how to proceed,” Kelly continued.
“Bongino appears ready to resign imminently if Bondi remains in office,” she added.Fox News sought comment from the White House on whether President Donald Trump was satisfied with Bondi, to which Press Secretary Karoline Leavitt responded that the president is “proud” of his attorney general.
“The President is proud of the attorney general’s efforts to execute his Make America Safe Again agenda, restore the integrity of the DOJ, and bring justice to the victims of crime,” Leavitt said.
“The continued fixation on sowing division in President Trump’s cabinet is baseless and unfounded in reality.”
On Tuesday, Trump dismissed questions about Epstein during a press exchange.
“Are you still talking about Jeffrey Epstein? This guy’s been talked about for years,” Trump said, while taking questions during a Cabinet meeting. “You’re asking – we have Texas, we have this, we have all of the things, and are people still talking about this guy? This creep? That is unbelievable. I mean, I can’t believe you’re asking a question on Epstein at a time like this, where we’re having some of the greatest success and also tragedy with what happened in Texas. It just seems like a desecration.”
END
Watch: American Truckers United Issues Dire Warning On ‘Unsafe’ Highways Amid Flood Of Migrant Drivers, Crashes
Saturday, Jul 12, 2025 – 11:05 AM
Shannon Everett of the trucking advocacy group American Truckers United (ATU) has been one of the most outspoken folks about the Biden-Harris regime’s role in the surge of migrant drivers with non-domiciled commercial driver’s licenses (CDLs). He warns the influx has transformed U.S. highways into a national security threat and a growing public safety crisis, citing multiple fatal crashes this year involving migrants behind the wheel of fully loaded 80,000-pound big rigs.
“This is an urgent wake-up call for every American,” Everett wrote on X, alongside a video warning about the hundreds of thousands of migrants operating big rigs with non-domiciled CDLs. He urged heightened situational awareness on the nation’s highways, citing concerns that lax licensing standards have put unqualified, non-English-speaking drivers behind the wheels of 80,000-pound rigs.
He continued, “Our highways are no longer safe. Reckless immigration policies and weakened licensing standards have unleashed a deadly crisis on our roads.”
Everett cited several crashes involving non-domiciled CDL drivers, including one in Austin, Texas, earlier this year that killed five Americans.
He said, “The pattern in these crashes is undeniable. Too many of these tragedies involve non-citizen truck drivers. Truck drivers who are unvetted, unqualified, untrained, and who are exploiting lax regulations because we have almost no enforcement in our industry.”
“You cannot let yourself or your loved ones be next. If you’re trapped in stalled traffic, don’t just sit there—stay vigilant. Watch the truckers behind you. Have an escape plan. Move your vehicle to the shoulder and be prepared to advance past the traffic if necessary. Most importantly, get out of harm’s way,” Everett warned.
Watch: Everett’s Warning To All Americans
ATU has previously noted that the Biden-Harris regime “bragged about bringing 876,000 new drivers into the market, effectively doubling the average annual output of new drivers.”
And there’s more…
ATU has found that truck-involved incidents and fatalities have been on a steady rise since 2016, and the correlations with federal immigration policies under the previous administration saw a spike in non-domiciled CDLs.
The Trump administration has signaled it takes the issue seriously. Last month, President Trump—through the U.S. Department of Transportation—enforced the English Language Proficiency (ELP) rule to crack down on unvetted migrant drivers operating big rigs.
Thank the sanctuary states for this mess!
Meanwhile, ATU revealed that Walmart and Amazon displayed navigational signs at their trucking hubs in foreign languages!
Catch up on the latest:
- English Trucking Rule Takes Effect, Federal Probe Begins Of Sanctuary State Migrant CDL Pipeline
- Letter Urges Transportation Sec. Duffy To Ban Foreign CDLs Amid Series Of Highway Crashes
- Biden Handed Out CDLs Like Candy… Now U.S. Highways Are A Public Safety & National Security Nightmare
- Highway Mayhem: Trucker From Sanctuary State Illinois Arrested After Baltimore Shooting Spree
- Rolling Risk: Unvetted Migrants Behind The Wheel Of Big Rigs Threaten U.S. Safety & Security
- Advocacy Group Calls For U.S. Probe On Non-English Speaking Migrant Truck Drivers After Deadly Austin Crash
- Walmart, Amazon Truck Depots Display Multilingual Signs, Raising Alarms Over Migrant Drivers With No English
The dire warning to all Americans by ATU’s Everett is about heightened situational awareness while driving on the nation’s highways.
VICTOR DAVIS HANSON
Will John Brennan Ever Tell The Truth?
Monday, Jul 14, 2025 – 01:45 PM
Authored by Victor Davis Hanson via American Greatness,
When asked why the current Department of Justice might be investigating him, former CIA Director John Brennan answered, as was his wont, with a complete lie: “I am clueless about what it is exactly that they may be investigating me for.”
Clueless? Hardly.
Brennan knows full well that his fingerprints are on some of the greatest scandals of the last decade.
These machinations have threatened the very integrity of our institutions and elections.
He has a record of serially lying to Congress, the public, and the media, and doing so emphatically.
In 2011, as the government’s chief counterterrorism adviser, John Brennan absurdly insisted that the Obama administration’s drone strikes along the Pakistan-Afghanistan border had not killed a single civilian noncombatant. Yet multiple sources proved the claim was clearly false. In truth, the number of innocents killed was likely somewhere between 50 and 70.
In 2014, as director of the CIA, Brennan lied again, doubling down by denying that CIA operatives were hacking into U.S. Senate staffers’ computers.
“As far as the allegations of the CIA hacking into Senate computers, nothing could be further from the truth. . . . We wouldn’t do that. I mean, that’s just beyond the, you know, the scope of reason in terms of what we do.”
Here, too, he was caught lying and forced to apologize—but never charged with perjury.
But Brennan’s biggest fabrications came in 2017 when, as an ex-CIA director, he testified before a congressional committee that he neither knew who had commissioned the now-infamous bogus Steele dossier nor whether the CIA had relied on it for its intelligence assessments.
But Brennan knew well at the time that then NSA director Michael Rogers and James Clapper, Director of National Intelligence, had both gone on record that the dossier did play a major role in the intelligence community’s interagency assessment. Indeed, the concocted dossier was delivered directly to President Obama. And John Brennan was one of its most ardent advocates, seeing in it a way to undermine the Trump campaign.
So, Brennan himself played a major role in disseminating the fake brief, more or less violating a cardinal CIA precept not to interfere in domestic surveillance and intelligence gathering. For example, Brennan approached the late Sen. Harry Reid to brief him in hopes that Reid would contact the FBI to help spread the lies of the dossier. And Reid did just that two days later, in a call to then-Director James Comey.
Brennan, against the advice of senior CIA Russian analysts, had insisted that the false dossier’s contents be made part of formal assessments presented to the president. He also must have known that Christopher Steele was also indirectly hired by the Clinton campaign, which had funneled his payments through three covert channels—the DNC, Perkins Coie law firm, and Fusion GPS—to hide the campaign’s tracks.
Remember that Brennan was one of the chief architects of the now-infamous “51 intelligence officials” rounded up on the eve of the last 2020 presidential debate by Antony Blinken, a Biden campaign operative.
Blinken had called former CIA interim director Mike Morrel to assemble dozens of supposedly retired intelligence experts to falsely claim to the public that Hunter Biden’s laptop—then in the possession of the FBI, which had insisted on silence about its own authentication of its lurid contents—was a product of Russian intelligence to help Trump.
Brennan and the supposedly retired “authorities” (many of whom were still working for the CIA as contractors, despite claiming to be retired) sought to hide their tracks by the weasel words “has all the classic earmarks of a Russian information operation.” What they meant by that wink and nod was that their deceptive letter was aimed at tarnishing Trump as a beneficiary of a collusive Russian disinformation project on the eve of the last debate.
The trick worked like clockwork, as an equally lying Biden cited the signed letter to counter Trump during the presidential debate:
“There are 50 [sic] former [sic] national intelligence folks who said that what he’s accusing me of is a Russian plant. They have said that this has all the … five former heads of the CIA, both parties, say what he’s saying is a bunch of garbage. Nobody believes it except him and his good friend, Rudy Giuliani.”
Christopher Wray’s FBI also partnered with social media, such as Twitter and Facebook, to suppress any accurate news accounts about the genuine laptop, claiming it was “misinformation” or “disinformation.”
In other words, the FBI knew the laptop was real, kept that knowledge hidden, and then helped the media to suppress the truth—in ways that helped Joe Biden’s campaign win the election.
In retrospect, that colossal laptop lie likely affected the final 2020 debate and the news coverage that followed. A controversial post-election Technometrica Institute of Policy and Politics poll found that some 79 percent of respondents said their vote might have changed had they known the incriminating laptop was authentic.
As an “expert” MSNBC analyst (relying on his security clearance to monetize his on-screen credibility) and social media gadfly, Brennan did his best to cover his tracks by periodically smearing then-President Trump with incoherent rants like the following:
“When the full extent of your venality, moral turpitude, and political corruption becomes known, you will take your rightful place as a disgraced demagogue in the dustbin of history. You will not destroy America . . . America will triumph over you.”
Brennan’s perfidy and lying are in addition to his adaptability, going from a Bush-era promoter of “enhanced integration” (i.e.,waterboarding at Guantanamo?) to a sudden Obama convert who lectured the nation about the good intentions of jihadists: “Nor do we describe our enemy as ‘jihadists’ or ‘Islamists’ because jihad is a holy struggle, a legitimate tenet of Islam, meaning to purify oneself or one’s community.”
But mostly, Brennan shouted on the air or tweeted his furor at Trump in increasingly unhinged fashion, “Your kakistocracy is collapsing after its lamentable journey… we have the opportunity to emerge from this nightmare stronger & more committed to ensuring a better life for all Americans, including those you have so tragically deceived.”
Given that Brennan was one of the founders of the Russian collusion hoax, he not only never apologized for the lie but continued to advance the falsehood of Trump-Russian collusion.
In 2018, Brennan called the president a veritable traitor:
“Donald Trump’s press conference performance in Helsinki rises to and exceeds the threshold of ‘high crimes & misdemeanors.’ It was nothing short of ‘treasonous.’ Not only were Trump’s comments ‘imbecilic,’ but he is also wholly in the pocket of Putin. Republican Patriots: Where are you?”
For a former CIA director, Brennan proved strangely clueless about why Putin had invaded his neighbors during three of the last four American administrations—except Trump’s. When he called Trump treasonous, Trump had already lifted the Obama sanctions on providing offensive weapons to Ukraine. Trump would soon pull out of a disadvantageous missile deal with Russia. Trump would also lecture the Germans on the folly of cutting a natural gas pipeline deal with Putin. He sanctioned Russian oligarchs and ordered the destruction of a cohort of attacking Wagner Group Russian mercenaries in Syria.
Brennan was at the center of three of the greatest scandals in recent history that may well have changed American history. His promotion of the fake Steele dossier sought to destroy the Trump campaign and sway the election in favor of Hillary Clinton.
That continual false charge of Russian collusion in 2017-8 consumed 22 months of Trump’s first term, forcing the president to spend every day defending himself from the truly weaponized Mueller legal team vainly trying to concoct a collusion charge. Often on MSNBC, Brennan lied to the American people that President Trump was all but a traitor in league with Putin.
Not yet done, in 2020, Brennan and his associates likely changed the course of the last presidential debate by spreading a fantasy letter. Thereby, he helped turn a potentially disastrous Biden scandal into a false charge that Trump was once again “colluding” with the Russians to promote a supposedly fake Biden laptop. And those lies may well have swung the close 2020 election.
Now, Brennan thinks Trump has weaponized the Justice Department to investigate Brennan’s many lies and efforts to warp domestic elections. In truth, John Brennan, along with former FBI Director James Comey and James Clapper, the former Director of National Intelligence, more or less destroyed the reputation of our investigative and intelligence bureaus by chronically lying, leaking, and weaponizing the government.
After all that, who would ever believe anything Brennan says—as he still projects his own past sins onto others?
A NEWS/ANTISEMITISM..
KING NEWS
| The King Report for July 14, 2025 Issue 7532 | Independent View of the News |
| On Friday morning, after he torpedoed stocks with a 35% tariff on Canada, Trump attacked Powell again. Trump on route to Texas to view the flood damage: “I think [Powell] is doing a terrible job. I think we should be three points lower interest rate. He is costing our country a lot of money. We should be No. 1 and we’re not, and that’s because of Jerome Powell, in terms of interest…” Stocks and bonds got hammered early on Friday due to DJT. Gold and cryptos soared. Gasoline and oil rallied sharply. Fangs rebounded quickly because most everyone in the visible universe knows that Fangs tend to rally sharply into earnings results – and earnings season is commencing. The NY Fang+ Index hit its low (14753.746) at 9:44 ET. The usual suspects eagerly bought the dip. A wild A-B-C rally took the index to 14882.978 (+0.1%) at 11:41 ET. The NY Fang+ Index then formed a triple and broke lower at 13:25 ET. Goolsbee Says New Tariff Threats Could Delay Rate Cuts – BBG 14:38 ET The leftist Chicago Fed Pres also repeated the lie that the Fed will continue to be politically independent. @WallStreetMav: Central bank independence sounds noble. But it’s a myth. In the Fed’s 112 years, Democrats get 0.7% real rates. Republicans get 3.1%... free booze for the Dems. Nurse Ratchet for Reps. @StephenMoore: Fed Reserve employees donated 92% of their $700k in political contributions to Dems during the 2024 cycle. Does that sound “nonpartisan” to you? https://x.com/StephenMoore/status/1943794571089260610 US Dir. of Federal Housing Bill Pulte, Friday ~4 ET: “I’m encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom.” As noted in Friday’s missive, ESUs tumbled during early Nikkie trading on Friday after Trump proposed a 35% tariff on Canadian goods. After hitting a low of 6283.00 at 20:27 ET, ESUs march higher in choppy trading until they hit 6311.50 at 0:38 ET. ESUs then intractably fell to a daily low of 6276.75 at 6:01 ET. ESUs then staged another choppy rally that took ESUs to 6312.75 at 14:42 ET. ESUs then fell to 6295.00 at 15:03 ET on Pulte’s ‘Powell to resign’ statement. It would be ironic if Powell resigned, causing bonds to crater, and that burst the equity bubble. Perhaps gold and cryptos soared while bonds tumbled early on Friday on ‘Powell might resign’ rumors/info. After the Pulte tumble, the late manipulation pushed ESUs to 6311.25 at 15:26 ET. Put there is an ill in the market, much of emanating from the House of Trump. So, ESUs slid to 6293.25 at 16:20 ET. Positive aspects of previous session L’Affaire Powell might be nearing a denouement. Negative aspects of previous session USUs fell as much as 1 14/32 (low at 15:20 ET); stocks sank on Friday morning and post-Pulte. Oil, gasoline, gold, and cryptos rallied sharply. Ambiguous aspects of previous session Did bonds tumble while gold & crypto soared on Powell’s possible resignation? What if Bessent resigns? Is Trump replaying his 1st term missteps? Is the House of Trump crumbling due to hubris and internecine warfare? 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]: 6255.60 Previous session S&P 500 Index High/Low: 6269.44; 6237.60 On Saturday, Trump announced 30% tariffs on EU and Mexico effective August 1. The EU refused to reduce trade barriers for US autos, farming, chemicals, and agriculture. DJT letter to EU at link. https://x.com/TrumpDailyPosts/status/1944049983704953164/photo/1 Britain ready to implement US tariff deal, trade minister says – Reuters on Saturday https://www.msn.com/en-us/money/markets/britain-ready-to-implement-us-tariff-deal-trade-minister-says/ar-AA1GB4QC @Barchart: The odds of a rate cut by September have fallen to just 60%. A few weeks ago, the odds were 94% https://x.com/Barchart/status/1944221946163433743 @dailychartbook: “Applying the Taylor Rule now would require the Fed to raise rates.” (Dimon view) https://t.co/jm6lcqK0F5 Today – This Expiry Week and the start of earnings season. Big Banks start reporting tomorrow. Expiry and earnings are very bullish seasonal factors. However, Mr. Bond apparently is very unhappy with the prospect of a DJT stooge running the Fed and cutting rates in an historic asset bubble. Astute investors will now closely monitor bonds. There are usually the canaries in the coal mine. Also, be alert for rumors about Bessent. If he really is the adult in Trump Cabinet, he will be highly aggravated. US 30-year Bond yield, monthly – It is goes above the 5.095 peak from 10/23, look out! ESUs are -24.50; NQUs are -94.50; USUs are -3/32; and gold is +15.80 at 20:05 ET. S&P Index 50-day MA: 5963; 100-day MA: 5788; 150-day MA: 5861; 200-day MA: 5858 DJIA 50-day MA: 42,616; 100-day MA: 42,059; 150-day MA: 42,626; 200-day MA: 42,7171 (Green is positive slope; Red is negative slope) S&P 500 Index (6259.75 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 5535.62 triggers a sell signal Daily: Trender and MACD are positive – a close below 6172.69 triggers a sell signal Hourly: Trender is positive; MACD is negative – a close below 6246.50 triggers a sell signal Metadata Shows the FBI’s ‘Raw’ Jeffrey Epstein Prison Video Was Likely Modified – Wired There is no evidence the footage was deceptively manipulated, but ambiguities around how the video was processed may further fuel conspiracy theories about Epstein’s death. https://www.wired.com/story/metadata-shows-the-dojs-raw-jeffrey-epstein-prison-video-was-likely-modified/ FBI’s Dan Bongino clashes with AG Bondi over handling of Epstein files – Axios FBI deputy director Dan Bongino took a day off from work Friday… After the video’s “missing minute” was discovered, Bongino was blamed internally for the oversight, according to three sources… https://www.axios.com/2025/07/11/epstein-files-dan-bongino-pam-bondi-trump DJT confidant @LauraLoomer: @dbongino is now seriously thinking about RESIGNING from the FBI as Deputy Director over Pam Blondi’s mishandling of the Jeffrey Epstein file release and the lack of transparency at the DOJ… Source tells me it’s very likely that Bongino resigns from the FBI unless Pam Blondi is FIRED by President Trump or resigns from the DOJ. Did AG Bondi freely spiked the Epstein List or did WH Cos Wiles or DJT order the spike? @RaheemKassam: Pam Bondi has been giving multiple avenues to pursue, and infinite examples of people who need to be brought in front of a special counsel, but she has refused to budge every time. There’s an interesting NY vs FL thing going on here, too… (WH CoS) Susie Wiles a long standing close and personal friend of Pam’s… This would represent a massive victory for the swamp… I’ll conclude for now by reminding everyone how people like Dan Bongino and Kash Patel sacrificed as much as they possibly could for MAGA and Trump, and I’ve no doubt they’ll remain loyal to both regardless of what happens here. (Musk sacrificed too) The truth is Pam needs to go, fast… https://x.com/RaheemKassam/status/1943781884854411358 DJT CoS Susie Wiley was CEO of lobbyist firm Ballard Partner, in Florida; Bondi was a partner. @seanmdav: The Epstein case… is a proxy for whether the Trump DOJ has what it takes to hold the Deep State accountable across the board. And people are rightfully concerned about DOJ’s competence given how it has handled the Epstein… Bondi’s handling of the case thus far has been a disaster across the board, from the stupid binder and its idiotic rollout to the memo over the last week. I can tell you for a fact the FBI is in open revolt over her mishandling of the case, and that top officials have grave concerns that her lack of judgment is not just limited to this particular case. There is no confidence in her ability to do what needs to be done and a firm belief that the DOJ under her command is not equipped to handle a number of other major cases and investigations already in the works. On Saturday, as some prophesied, DJT vociferously defended Bondi, his CoS’s BFF from Florida. Trump: What’s going on with my ‘boys’ and, in some cases, ‘gal’? They’re all going after Attorney General Pam Bondi, who is doing a fantastic job! We’re on one Team, MAGA, and I don’t like what’s happening. Let Pam Bondi do her job!… We have a PERFECT Administration, THE TALK OF THE WORLD, and ‘selfish people’ are trying to hurt it, all over a guy who never dies, Jeffrey Epstein. For years, it’s Epstein, over and over again. For years it’s Epstein, over and over again. Why are we giving publicity to Files written by Obama, Crooked Hillary, Comey, Brennan, and the losers and Criminals in the Biden Administration… Kash Patel, and the FBI must be focused on investigating Voter Fraud, Political Corruption, Act Blue, The Rigged and Stolen Election of 2020, and arresting Thugs and Criminals, instead of spending month after month looking at… Radical Left inspired documents on Jeffrey Epstein. LET PAM BONDI DO HER JOB — SHE’S GREAT!… The 2020 Election was Rigged and Stolen and they tried to do the same thing in 2024. That’s what she is looking into and more… Let’s keep it that way, and not waste Time and Energy on Jeffrey Epstein, somebody that nobody cares about… DJT’s long, rambling post, in which he admits that Epstein files exist and might be bogus at: https://x.com/TrumpDailyPosts/status/1944145782548181036 IF Trump had just voiced support for Bondi and ended it with ‘let Pam Bondi do her job,’ his message might have appeased his base. But his haughty command to forget Epstein is insulting; and it infuriated many supporters. Polling shows he is dead wrong! In 2013, as Florida attorney general, Bondi declined to investigate allegations of fraud against the for-profit Trump University after the Trump family foundation sent a check for $25,000 to a political action committee she was associated with… https://americanoversight.org/american-oversight-opposes-pam-bondis-nomination-for-attorney-general/ @Peoples_Pundit: Trump’s MAGA base is showing cracks in the polling. New MAGA voters are growing disillusioned – citing the Iran strike, Ukraine aid, and silence on Epstein. If Trump doesn’t recalibrate, the coalition… is likely to collapse in 2026. (What if the equity & crypto bubbles burst?) WaPo: MAGA leaders sound alarm about discontented Trump base: ‘A huge risk’ At Turning Point’s gathering of young Trump supporters, movement leaders warned the White House to pay attention to anger about the Jeffrey Epstein investigation and other issues… The administration’s refusal to release more on the investigation and Epstein’s potential ties to power, as it had once promised to do, is “not about just a pedophile ring and all that,” he said. “It’s about who governs us, and that’s why it’s not going to go away.”… https://www.washingtonpost.com/politics/2025/07/12/turning-point-usa-conference-concerns-trump/ @elonmusk: Seriously. He said “Epstein” a half a dozen times while telling everyone to stop talking about Epstein. Just release the files as promise. This is a very big deal. What the h*ll kind of system are we living in if thousands of kids were abused, the government has videos of the abusers, and yet none of the abusers are even facing charges!?” Ardent DJT supporter & ex-advisor @GenFlynn: @realDonaldTrump please understand the EPSTEIN AFFAIR is not going away. If the administration doesn’t address the massive number of unanswered questions about Epstein, especially the ABUSE OF CHILDREN BY ELITES… then moving forward on so many other monumental challenges our nation is facing becomes much harder… Seeing a wounded DJT, AOC called him a ‘rapist’; Dem Sen (GA) Ossoff called DJT a ‘sexual predator.” https://t.co/GS9vtyIpsD @Peoples_Pundit: Look at the replies to that post on Truth Social. People aren’t buying it. On July 7, 2019, during DJT’s 1st term, Epstein was arrested in an undercover operation and taken into custody. The following day Epstein was charged with sex trafficking and conspiracy to traffic minors for sex. https://inews.co.uk/news/when-jeffrey-epstein-caught-timeline-scandal-2837402 Sequence: I’ll release the Epstein Files when re-elected. The FBI and DoJ are curating the files. Bondi will release the files to select influencers at the WH. Bondi gave them confetti. We are still editing the files. There are no files; forget about Epstein. There are Epstein Files, but Democrats created them, just like the bogus Russia/Steele Dossier. Forget about Epstein. Don’t waste time and energy on Epstein. @ExxAlerts: California Rep. Ro Khanna to introduce an amendment that will FORCE A VOTE demanding the FULL Epstein files be publicly released. In this scenario, Speaker Mike Johnson would have to call a vote that would put every single member on record. @TonyNashNerd: There are not as many people upset about Powell as there are about Epstein. Replacing Powell will not quell the Epstein anger. Gov. Newsom, protesters target JD Vance with his family as they visit Disneyland https://trib.al/2gP8oDC Obama officials admitted they had no ’empirical evidence’ of Trump-Russia collusion: House Intel transcripts – they didn’t have evidence of a conspiracy between Trump and Russia but continued to push the collusion ‘narrative’ https://www.foxnews.com/politics/obama-officials-admitted-had-no-empirical-evidence-trump-russia-collusion-house-intel-transcripts WSJ Editorial Board Member @ElliotKaufman6: The Iranians are stalling. To extract concessions that secure and deepen the war’s achievements, Trump will need the full pressure arsenal. There’s no sign Iran will surrender the remains of its enrichment program, and senior regime clerics continue to call for Trump’s execution. What’s Trump’s next move on Iran? WSJ Editorial Board: What’s Trump’s Next Move on Iran? The President still wants a nuclear deal, but that will take more sanctions and other pressure. Iran is still talking tough and rejecting Mr. Trump’s demands, even after bailing out of the fight with Israel and failing to respond in any serious way to the U.S. strikes. In a video message released several days after the U.S. bombing, a frail-looking Ayatollah Ali Khamenei claimed that the U.S. had to intervene to rescue Israel, and that Iran had “dealt America a slap in the face.”… https://www.wsj.com/opinion/iran-tries-to-talk-its-way-out-of-defeat-national-security-foreign-policy-e7039c63 Iranian Assassination Group Places $40 Million Bounty on Trump’s Head, Urges ‘Every Cell of the Resistance in the West’ to Carry Out Death Sentence — Leaders say the president’s ‘punishment is death’ and ‘his blood is permitted.’ https://freebeacon.com/national-security/iranian-group-places-40-million-bounty-on-trumps-head-urges-every-cell-of-the-resistance-in-the-west-to-carry-out-death-sentence/ Social media erupts after nation’s largest teachers’ union misspells ‘fascism’ in anti-Trump agenda item – ‘Not only are they ideologues, they can’t spell,’ one X user mocked https://www.foxnews.com/media/social-media-erupts-after-nations-largest-teachers-union-misspells-fascism-anti-trump-agenda-item Trump on Friday night: “I am on my way back from Texas, and watched in disbelief as THUGS were violently throwing rocks and bricks at ICE officers while they were moving down a roadway in their car and/or official vehicle. Tremendous damage was done to these brand new vehicles… Therefore, I am directing Secretary of Homeland Security, Kristi Noem, and Border Czar, Tom Homan, to instruct all ICE, Homeland Security, or any other Law Enforcement Officer who is on the receiving end of thrown rocks, bricks, or any other form of assault, to stop their car, and arrest these SLIMEBALLS, using whatever means is necessary to do so. I am giving Total Authorization for ICE to protect itself, just like they protect the Public. I never want to see a car carrying a Law Enforcement Officer attacked again! AUTHORIZATION IMMEDIATELY GRANTED FOR ARREST AND INCARCERATION. Thank you for your attention to this matter!” NY Post: ‘Assassination culture’ makes ICE its new target — and Dems fan the flames …aggression against ICE agents up 700% compared to the same time last year… Democrats are doing nothing to calm their base’s insane fury. Instead, they’re openly demonizing ICE agents, often comparing them to the Gestapo in Adolf Hitler’s Nazi Germany… https://nypost.com/2025/07/11/opinion/dems-fan-the-flames-of-assassination-culture-against-ice/ @FoxNews: LA Mayor Karen Bass signs executive directive “to help the city family understand how to protect the workforce and Angelenos from the federal government.” https://x.com/FoxNews/status/1943731549528027466 Cal State LA lets professors move classes online due to student fears over ICE immigration… https://www.foxnews.com/media/cal-state-l-a-lets-professors-move-classes-online-due-student-fears-over-ice-immigration-enforcement @AnthonyCabassa_: LA Mayor Bass announces ‘cash assistance’ program to immigrant families affected by ICE raids. The idea is to begin handing out ‘cash’ debit cards families by next week. She mentioned the program would be funded via ‘philanthropists’, not city taxpayer money. -LAT Once again, Democrats want to fight a civil war over state vs federal rights with the real issue illegal immigration versus slavery in the past. (Will The Cartel be part of the ‘philanthropists?”) @KevinKileyCA: Karen Bass is now giving cash cards to illegal immigrants “affected” by ICE. To get one, you just have to say you’re too afraid to go to work. To hand out the cash she’s chosen CHIRLA – the same “nonprofit” that instigated the riots after getting $34 million in public funds. @mrddmia: Harboring illegal aliens is a federal felony. 8 U.S.C. § 1324 Lock. Her. Up. The regime media and Dems are trying to downplay that an ICE raid on a marijuana facility in California uncovered illegal immigrant child laborers. But the story got bigger on Friday due to this: Newsom donor’s cannabis farm under federal investigation for ‘child labor violations’ – Fox https://www.foxnews.com/politics/newsom-donors-cannabis-farm-under-federal-investigation-child-labor-violations @CBPCommissioner on July 10, 23:25 ET: Here’s some breaking news: 10 juveniles were found at this marijuana facility – all illegal aliens, 8 of them unaccompanied. It’s now under investigation for child labor violations. This is Newsom’s California. @USBPChief: Where there’s illegal immigration, illegal child labor often follows. https://x.com/USBPChief/status/1943687130233942129 @susancrabtree: The fighting back and forth between Border Patrol and Newsom over the children’s presence at a Calif. marijuana farm is critical to get to the bottom of — the Border Patrol insists there was forced child labor at this pot farm where they arrested 200-300 illegal immigrants. Chief Banks: Newsom paints this as a produce farm, but the reality is far different. “That’s where Calif. should be concerned — that there are children being forced into labor on marijuana plantations.” Newsom, some Dems, and some of the media are trying to sell the Whacky Tabacky farm as a ‘produce farm’ and the ICE raid as a disruption to the US food supply. You cannot make this up! Why isn’t the media pounding Newsome for illegal child labor in his state? We know why, liberal privilege! Gavin Newsom and Democrats ridiculed for criticizing ICE officers in marijuana farm migrant raid – The California leader has been skewered for a misleading post about ICE raid… ‘Kids running from tear gas, crying on the phone because their mother was just taken from the fields,’ Newsom posted on X… ‘Why are you allowing small children to work in a drug farm?’ commentator and LA native Peachy Keenan responded to Newsom… https://www.dailymail.co.uk/news/article-14897307/gavin-newsom-cannabis-farm-ice-trump-nickname.html @libsoftiktok: Rep. Julia Brownley (D-CA) calls ICE “horrific” and “un-American” for conducting a lawful raid at a marijuana farm that was illegally exploiting children for labor. Democrats are now the party of unaccompanied illegal alien child labor at weed farms. https://x.com/libsoftiktok/status/1943698705586016749 Dem @RepJimmyGomez: How many MS-13 gang members are waking up at 3 a.m. to pick strawberries? O’yeah, zero! Trump said he’d go after “bad hombres,” but he’s targeting the immigrant farm workers who feed America. Either he lied — or he can’t tell the difference. @libsoftiktok: Democrat Rep Jimmy Gomez spreads the “feeding America” lie. He conveniently leaves out that it was a MARIJUANA FACILITY. All Democrats do is lie. When called out for his lie by X readers, Gomez posted a picture of Trump with Epstein. @libsoftiktok: Luis Mc Arthur, the mayor of Oxnard, CA, says that the ICE raid at a marijuana farm that exploited children for labor was “unjust and unwarranted,” and he wants to work with Gavin Newsom to stop these raids. Democrats are now fighting for not just illegal aliens… but also for CHILD LABOR. https://x.com/libsoftiktok/status/1943698357186166804 @DACDAC4DAC: This farm is owned by Glass House Brands, the largest cannabis vertical retailer in California. The farm in the video is a complex that generates tons of cannabis. It was also employing kids illegally trafficked. Why would Newsom defend a huge corporation?… Tax revenues on weed have cratered from $320 million in the 1st quarter of 2021 to $213 million in the 4th quarter of 2024… this has led to is California… aggressive enforcement against illegal weed… In any other context, this would lead to local politicians ordering investigations. Instead, Newsom seeks to run political cover for his state’s largest cannabis entity by pointing fingers at ICE and essentially saying, “won’t anyone think of the kids?” Journalists should really be digging into the connections between an entity in which two of its high-level executives donated to the local DNC in 2019 and Newsom. Are there other tawdry facts other than protecting a weed operation? Who knows?… But no one is going to ask those questions because weed is too important to California, illegal immigrants, whether they want to be in the nation or not – are sacrosanct, and ICE is the bad guy… If there are large amounts of marijuana being produced, do you think The Cartel is involved? And to what extent does The Cartel control CA Dems pols? Do they get them elected? How involved is the Cartel in Chicago and other big blue cities’ politics? Is the Cartel aligned with the CCP? @TrumpWarRoom: Deputy WH CoS @StephenM goes scorched earth on Democrats going after our brave @ICEgov agents: “Cartels are waging war against America and their allies are the Democrat party, and their allies are the Democrat politicians that are incentivizing these migrant mobs to try to murder our ICE officers in cold blood.” https://x.com/TrumpWarRoom/status/1943752800308961546 Babylon Bee: Gavin Newsom Declares California A Sanctuary State for Child Slavery https://buff.ly/ypS00E0 Only the GOP can screw up Dems gifting them illegal immigrant child labor and weed issues, plus protestors and rioters waving Mexican flags at ICE agents as a sign of defiance! @SpencerLndqst: What a striking image. Foreigners waving the flag of a foreign country in defense of illegal foreigners who harvested drugs for a living. https://x.com/SpencerLndqst/status/1943695280618045528 @CBP: On July 10 at approximately 2:26 PM, an unknown individual appeared to fire a pistol at federal law enforcement officers. The FBI is offering a $50,000 reward for information leading to conviction. The incident occurred on Laguna Rd between Wood Rd and Las Posas Rd near Camarillo. Make no mistake: anyone who targets our agents will face the full force of federal prosecution… @toddstarnes: Congressman Salud Carbajal (D-CA), who was born in Mexico, was part of a violent mob that tried to stop federal agents from executing a criminal search warrant at a marijuana farm. Children were working at the farm. ICE said in a press release that Carbajal was part of the mob that threw rocks and bloodied at least one ICE staffer. The congressman then doxed the ICE staffer by sharing his business card with members of the mob. Why hasn’t the congressman been arrested? Enough with the press releases. Enforce the law. @RepCarbajal belongs in jail. (video at link) https://x.com/Bubblebathgirl/status/1944506356133962089 @libsoftiktok: Just one day after a man shot at ICE agents with a gun, Rep. Delia Ramirez (D) calls for MORE anti-ICE protests to fight against “fascism” and “authoritarianism.” She wants more violence. She knows exactly what she’s doing. https://x.com/libsoftiktok/status/1943730404650865046 We are old enough to recall when Dems and the MSM bragged that ‘Obama is the deporter in chief!’ ‘Jews for Zohran’ Mamdani group tied to niece of lefty China-based billionaire Marxist tycoon Neville “Roy” Singham‘s niece Alicia Singham Goodwin serves as political director of lefty nonprofit Jews for Racial and Economic Justice, which in January launched Jews for Zohran… https://nypost.com/2025/07/12/us-news/jews-for-zohran-mamdani-group-tied-to-niece-of-lefty-china-based-billionaire/ Soros funneled $37 million to Working Families Party, other lefty groups backing Mamdani https://trib.al/Iz7G5E6 Supreme Court Justice Ketanji Brown Jackson has sleepless nights triggered by ‘the state of our democracy – Brown, 54, did not have a chance to expand on her worries, nor list any specific concerns. “What keeps me up [at] night is knowing that we have unqualified Justices like Jackson on the SCOTUS,” quipped one X user… “She’s functionally an activist, not a judge,” another jabbed… https://nypost.com/2025/07/11/us-news/supreme-justice-ketanji-brown-jackson-triggered-by-state-of-our-democracy/ @laralogan: Green Beret and ER doctor “Doc” Chambers reveals how he was ordered to help sabotage the meatpacking industry during COVID—by mandating PCR tests he knew would trigger false positives. The result? Workers were forced home, plants were shut down, and the supply chain collapsed. https://x.com/laralogan/status/1943303254739165378 Life-long Dem Jamie Dimon (Thursday): “I have a lot of friends who are Democrats today, and they’re idiots. I always say they have big hearts and little brains. They do not understand how the real world works. Almost every single policy they rolled out has failed.” NY Post: A Secret Service agent from President Trump’s protective detail was suspended, along with several from the Pittsburgh field office, as the agency meted out discipline for the failures that allowed the July 13, 2024, assassination attempt to occur… The lawyer for Myosoty Perez confirmed that she was among the agents suspended… Law enforcement sources said Perez was sent to the site in advance of the campaign event and tasked with helping to secure it… https://nypost.com/2025/07/10/us-news/secret-service-agent-from-trump-protective-detail-at-butler-assassination-attempt-suspended-sources/ @PhilipWegmann: The supervisors, who oversaw Secret Service during the Butler rally where President Trump was shot, were never disciplined. In fact, as @SusanCrabtree exclusively reports, two received big promotions. https://www.realclearpolitics.com/articles/2025/07/12/one_year_after_butler_secret_service_fbi_face_new_questions_153040.html GOP Sen. @ChuckGrassley: NEW GAO REPORT IM RELEASING says Secret Service knew of a threat 2Pres Trump’s life 10 DAYS b4 Butler but didnt share info w staff on the ground so they were unprepared Rpt identifies Sct Service problems+ recommends fixes This info NVR wld hv been made public w/o CONG OVERSIGHT https://x.com/ChuckGrassley/status/1944034054845644970/photo/1 Trump threatens to revoke Rosie O’Donnell’s citizenship, she calls him ‘mentally ill’ “She is a Threat to Humanity, and should remain in the wonderful Country of Ireland, if they want her,” he says (Why would any reasonably mature adult, let alone a POTUS say this? Is this unseemly act an attempt to divert attention from the Pam Bondi mess?) https://justthenews.com/government/white-house/trump-threatens-revoke-rosie-odonnells-citizenship @TylerMcBrien: Signs posted today inside the State Department read: “Colleagues, if you remain: RESIST FASCISM, Remember the oath you vowed to uphold” (Ironically, ‘they’ evince their removal) https://x.com/TylerMcBrien/status/1943777193173131499 @Heminator: The fact the State Dept. can’t go through a two percent staff reduction without making a scene and patting each other on the back about fighting “fascism” s hould be nauseating to normal people. (Diminishes Ivy League poly sci degrees!) https://x.com/Heminator/status/1944030290063589795 Economist Amy Nixon @texasrunnerDFW: Throughout history, there are many documented instances of “mass psychogenic illness.” Basically periods where people collectively went insane. Like the Dancing Mania or The Salem Witch Trials… I think the last 5 years are another one of these. @WhitlockJason: Stephen A Smith works for Bob Iger, head of Disney. Bob Iger very close with Ghislaine Maxwell. Bob Iger’s son, Robert Maxwell Iger, is named after Ghislaine’s dad, Robert Maxwell… @JasonJournoDC: Stephen A. Smith *AGREES WITH TRUMP* that Americans shouldn’t care about Epstein anymore. “I could give a d*mn about the Epstein client list. This has no effect on me whatsoever. I have a life!”… https://x.com/JasonJournoDC/status/1943841323766755724 @Osint613: Advisor to Iran’s Supreme Leader Larijani threatens Europe: “Europe may become an unsafe place… perhaps in a few days, five drones will strike a European city.” https://t.co/DtHq5xlCEz @visegrad24: The British police have dropped the case against the Palestine Action “activists” who slashed and defaced a 1914 portrait of Lord Balfour at Cambridge’s Trinity College last year. No charges. No accountability. A deliberate attack on history met with silence. @JimHansonDC: A dying civilization refuses to defend itself. @MediasLies: Democrat Debbie Wasserman-Schultz says that illegal alien detainees are forced to “brush their teeth where they poop.” Newsflash for those who didn’t know, most Americans have bathrooms where they do this multiple times a day. https://t.co/rsGZhytGVc @Bubblebathgirl: Rep. Jamie Raskin (D-MD) says the midterms will be about deciding whether Americans want illegal immigrants to have free healthcare… (The GOP would be elated!) @DOGE__news: RFK Jr.: “I spent 30 years trying to get mercury out of the fish in this country, and nobody ever called me anti-fish.” (Calling him anti-vax over mercury in vaxxes) https://t.co/Of9PziJ2rx | |
SWAMP STORIES FOR YOU TONIGHT
ABOUT TIME!!
Trump Admin Cooking On Major Criminal Conspiracy Case Against Russiagate Plotters: Report
Monday, Jul 14, 2025 – 12:45 PM
While President Donald Trump may have poured gasoline on the Epstein fire – calling it a Democrat psyop and telling MAGA ‘not to waste time and energy’ on such matters in a massive wall of text on Truth Social – something in his message may have hinted at what’s next on the DOJ’s agenda…
“Why are we giving publicity to Files written by Obama, Crooked Hillary, Comey, Brennan, and the Losers and Criminals of the Biden Administration, who conned the World with the Russia, Russia, Russia Hoax, 51 “Intelligence” Agents, “THE LAPTOP FROM HELL,” and more? They created the Epstein Files, just like they created the FAKE Hillary Clinton/Christopher Steele Dossier that they used on me,” Trump wrote.
And while his post didn’t exactly help the massive wedge in his base after spending the 2024 campaign promising to release the actual ‘Epstein Files’ – it appears that the administration is turning their attention to the “Russia, Russia, Russia hoax” – and will launch a criminal conspiracy probe into its plotters.
If you immediately thought ‘DISTRACT!’ – you wouldn’t be wrong, but let’s entertain this for a minute. As PJ Media reports;
In a bombshell revelation, investigative journalist John Solomon confirmed to Steve Bannon on Real America’s Voice that the Department of Justice and the FBI have been quietly building a major criminal conspiracy case targeting the Deep State’s decade-long effort to derail Donald Trump. According to Solomon, the scope of the investigation could finally deliver the accountability that many in the MAGA movement have long demanded.
“I think next week, over the next 10 days… the base, who’s been wondering, ‘Where is all that accountability?’—they’re gonna get some big surprises,” Solomon said. He claimed the case reaches back to the summer of 2016, before Crossfire Hurricane was launched, and extends all the way through to 2024, encompassing “a large series of events” aimed at stopping Trump from winning the presidency.
Solomon said the massive case has been built largely out of the public eye, obscured by media theatrics and political infighting. “It’s been masked by a lot of this infighting and drama and soap opera stuff,” he said. “But the truth of the matter is, MAGA base Americans are gonna be happy when they see where this is all heading.”
I hope so!
Bannon pressed Solomon to clarify whether this was, in fact, a formal investigation by federal authorities. Solomon didn’t hesitate. “There is a conspiracy case that was opened that looks at this window as a very large window,” he confirmed. “I wouldn’t be surprised if we saw a special prosecutor named by Pam Bondi in the next week or two.”
This is the most interesting part of the revelation to me, especially in light of the blowback Bondi has received over the whole Epstein client list debacle that has FBI Deputy Director Dan Bongino threatening to resign unless she is removed. Could Bondi be reassigned to be special prosecutor to keep Bongino and Patel at the FBI?
The significance of appointing a special prosecutor, according to Solomon, would be to bypass the hyper-partisan D.C. courts. “You don’t have to necessarily then bring the grand jury or the indictment in Washington, D.C., where the 90% Democrat jury pool probably won’t convict even if they had a murder,” he said. He explained that an overt act of the conspiracy, such as the Mar-a-Lago raid, could allow the case to be brought in Florida instead. “Maybe several overt acts of the conspiracy occurred there.”
Solomon indicated that work has already been done on a scope memo, which would lay out the parameters for a special prosecutor’s authority. “There is an enormous opportunity for those of us who’ve been calling for accountability to see a path to it for the first time,” he said. “A legitimate path. Not smoke, not mirrors. A legitimate path to accountability.”
One of the potential focal points of the case, Solomon said, is the infamous meeting between then-CIA Director John Brennan and President Barack Obama in mid-July 2016. “That’s when Brennan walks into President Obama and says, ‘Hey, we have this intercepted information that Hillary Clinton has authorized a program to make it look like Donald Trump’s a Russian spy,’” Solomon recalled. “President Obama and Brennan knew before the FBI opened up on that information that this was a dirty trick by Hillary Clinton.”
From there, Solomon suggested, the conspiracy spanned multiple events, including the Trump-Russia hoax, the Ukraine impeachment, and even the FBI’s refusal to act on intelligence regarding Chinese interference in the 2020 election. “They didn’t want to help Donald Trump, so they ignored a potential counterintelligence threat,” he said. “It allows for a very large series of events to be wrapped into a single conspiracy.”
When asked whether this approach could overcome the statute of limitations for certain crimes, Solomon explained how conspiracy charges work. “You can charge a series of events into a larger conspiracy and go back beyond the window of time that the normal statute of limitations for any single crime occurred,” he said. He also noted that prosecutors could argue the statute was tolled if crimes were hidden from the public.
Bannon summed it up as a potential game-changer: “That means… we can go back in time 10 years and still get Brennan and still get all these guys for more serious charges of conspiracy to—of a coup d’état?”
“That’s how conspiracy cases can work,” Solomon replied.
If Solomon’s reporting proves correct, this could mark the most consequential legal development yet in Deep State’s war against Trump—and the first serious attempt by federal law enforcement to hold the the anti-Trump operation accountable.
Can you feel the tide turning? For years, the establishment mocked calls for accountability—now, the tables are turning. PJ Media is your trusted source for the truth behind the headlines, unafraid to challenge the narrative. Don’t miss out on what’s coming next. Use promo code FIGHT for 60% off your PJ Media VIP membership and enjoy exclusive content and ad-free browsing. The window for justice is finally opening. Stand with us—join the VIP team today!
GREG HUNTER INTERVIEWING KAREN KINGSTON
New CV19 Vax Betrayal by RFK Jr. – Karen Kingston
By Greg Hunter On July 12, 2025 In Market Analysis, Political Analysis155 Comments
By Greg Hunter’s USAWatchdog.com (Saturday Night Post)
Karen Kingston is a biotech analyst and former Pfizer employee who was on the cutting-edge warning people from the beginning of the dangers of the dreaded CV19 so-called “vaccine.” Kingston was one of the first to tell people that the CV19 vax was literally a bioweapon, and the mRNA synthetic technology in it still makes it so. She talked about all the deaths and diseases it would cause and is still causing such as blood clotting, heart disease, auto immune disease and turbo cancers, to name a few. The Trump Administration FDA admitted in court it knew the CV19 shots were brought to the market despite fraud in the drug trials, and it did not care. The FDA announced this past week that it approved a new CV19 vax that babies as young as six months old will be injected with. I asked if she was shocked, and Kingston said, “This is not shock. It’s betrayal is what it is because when we look at RFJ Jr. and the six years prior to becoming Secretary of Health and Human Services . . . he was promising to have accountability. He promised to put safety first and safety of the children first. He was going to look at not only the (CV19) mRNA shots but all vaccines and get really good solid data to evaluate the safety and . . . danger profiles. . .. So, it feels like a big betrayal.”
There was a little good news that broke this weekend, and that was the DOJ dropping all charges against Dr. Kirk Moore. He was charged with destroying $28,000 of CV19 vaccines. Congress woman Marjory Taylor Greene pushed the DOJ to drop the charges and said, “Dr. Kirk Moore was targeted by a weaponized government because he refused to inject an experimental vaccine into people who didn’t want it.” Stories like this with a happy CV19 bioweapon vax ending are rare, and millions have been killed by the CV19 vax and many millions more are permanently disabled. This is now a well-established scientific fact backed up by mountains of data and peer reviewed medical studies. Kingston says, “Nobody should be taking any mRNA shots.”
What America is going to be getting are more of these man-made pandemics with so-called Emergency Use Authorization (EUA) vaccines, made up ahead of time, to inject the sick. Kingston contends this is really more of the transhumanism agenda, where they need an excuse to inject humans with more nanoparticle technology. Kingston says, “I think this is not about us being augmented by AI (Artificial Intelligence). Probably the end goal is for us to be an energy source for AI. That would explain this anti-human movement. This is why we are being treated as less than an animal. People are literally being criminally experimented on, disabled, diseased, distressed and some are being murdered. We don’t treat animals that way in America, but that is how humans are being treated. Again, it would appear that we are being treated as an energy source for AI technology in humans. . .. Also, at the end of June, the US Department of Agriculture launched a huge bio-digital surveillance for all of America’s livestock. Congress backed this up. . .. Congress wants more experimental vaccines. . .. This is going to devastate our food supply.”
For anyone who is CV19 vaxed and thinks they would not suffer consequences, think again. Many will suffer from the CV19 injections as it is a confirmed bioweapon. Kingston says, “I quote the recent Yale study that says 700 days after your last CV19 shot, people are still producing spike proteins. . .. This was self-amplifying mRNA. It’s these nanoparticles that get into your body and act as biosynthetic viruses, and you turn into a bioweapons factory. This was all over Pfizer’s documents.”
There is much more in the 54-minute interview.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with renowned biotech analyst Karen Kingston as she continues to uncover pure evil with the latest approval of the deadly and debilitating mRNA CV19 bioweapon vax. Kingston is still pushing HHS Secretary RFK Jr. and President Trump to pull this deadly disaster CV19 vax from the market now for 7.12.25.
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After the Interview:
There is some free information on Kingston’s Substack.
To support Kingston financially, you can become a subscriber to her Substack by clicking here.
If you want to donate to Kingston electronically so she can continue informing the public, please click here.
Donate to Kingston by snail mail below:
Karen Kingston
SEE YOU TUESDAY
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