099 H DEUTSCHE BANK AG 23
118 C MACQUARIE FUTURES US 2
118 H MACQUARIE FUTURES US 32
285 C NANHUA USA-HK 6
435 H SCOTIA CAPITAL (USA) 10
624 H BOFA SECURITIES 10
661 C JP MORGAN SECURITIES 105 87
709 C BARCLAYS 29
732 C RBC CAP MARKETS 2
737 C ADVANTAGE FUTURES 4
905 C ADM 11 3
GOLD: NUMBER OF NOTICES FILED FOR AUGUST/2025: 162 CONTRACTs NOTICES FOR 16,200 OZ or 0.5039 TONNES
total notices so far: 29,289 contracts for 2,928,900 OR 91.101 tonnes)
SILVER NOTICES:0 NOTICE(S) FILED FOR nil OZ/
total number of notices filed so far this month : 1720 CONTRACTS (NOTICES) for 8.600 million oz
EXCHANGE FOR RISK ISSUANCE FOR SILVER/MAY
JULY: 50.925 MILLION OZ (QUITE SMALL)
AUGUST: 24.845 MILLION OZ
AND JULY: 46.720 MILLION OZ//
AUGUST: 4.70 MILLION OZ INITIAL STANDING PLUS TODAY;S 25,000 OZ QUEUE JUMP//NEW STANDING REMAINS AT 8.725 MILLION OZ
AUGUST: 60.547 TONNES OF INITIAL GOLD FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 0.7030 TONNES TO WHICH WE ADD THE FOLLOWING EXCHANGE FOR RISK ISSUANCE PRIOR: 5.4432 TONNES EX FOR RISK/AUG 7 AND AUG 11: 2.413 TONNES EX FOR RISK AND NOW AUG. 12 OF 2.637 TONNES EX FOR RISK //NEW STANDING ADVANCES TO 95.433 TONNES OF GOLD (INCLUDES ALL MONTHLY QUEUE JUMPS) +10.4932 TONNES EX.FOR RISK = 105.926 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
MAY: 113.499 TONNES OF GOLD EFP ISSUANCE//QUITE SMALL THIS MONTH
JUNE: 97.79 TONNES OF GOLD EFP ISSUANCE/EXTREMELY SMALL
JULY : 150.877 TONNES// QUITE SMALL
AUGUST: 99.259 TONNES QUITE SMALL
SPREADING OPERATIONS
NOW SWITCHING TO GOLD FOR NEWCOMERS, HERE ARE THE DETAILS
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF APRIL. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A SMALL 30 CONTRACTS OI TO 157,214 AND FURTHER FROM 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 100 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 100 CONTRACTS and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 370 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 30 CONTRACTS AND ADD TO THE 100 E.FP. ISSUED
WE OBTAIN A SMALL SIZED GAIN OF 70 OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES WITH OUR LOSS IN PRICE OF $0.52 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 0.35 MILLION PAPER OZ
OCCURRED WITH OUR $0.52 LOSS IN PRICE.
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENT
Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS
ASIAN MARKETS THIS FRIDAY MORNING:
SHANGHAI CLOSED UP 30.33 PTS OR 0.83%
//Hang Seng CLOSED DOWN 249.25 PTS OR 0.98%
// Nikkei CLOSED UP 729.05 PTS OR 1.71% //Australia’s all ordinaries CLOSED UP 0.69%
//Chinese yuan (ONSHORE) CLOSED DOWN AT 7.1805 OFFSHORE CLOSED DOWN AT 7.1842/ Oil UP TO 63.26 dollars per barrel for WTI and BRENT UP TO 66.17 Stocks in Europe OPENED MOSTLY ALL GREEN
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN DOWN IN TRADING AT 7.1805 AND WEAKER//OFF SHORE YUAN TRADING DOWN TO 7.1842 AGAINST US DOLLAR/ AND THUS WEAKER
XXXXXXXXXXXXXXXXXXXXXXXXXXXX
END
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A STRONG SIZED 4966 CONTRACTS TO 439,709 OI DWITH OUR LOSS IN PRICE OF $20.80 WITH RESPECT TO THURSDAY’S // TRADING.. WE LOST NO NET LONGS, WITH THAT PRICE LOSS FOR GOLD. AND AS YOU WILL SEE BELOW, OUR LOSS IN PRICE ALSO HAD A FAIR NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (1767 ). WE HAD CONSIDERABLE T.A.S. LIQUIDATION //THURSDAY TRADING AS WE HAD A TOTAL GAIN IN OI ON BOTH OF OUR EXCHANGES, THE COMEX AND LONDON’S EXCHANGE FOR PHYSICAL EQUATING TO 7935 CONTRACTS (OR 24.68 TONNES). WE HAD 0 CONTRACTS ISSUED FOR EXCHANGE FOR RISK THURSDAY. THE CROOKS COULD NOT FLEECE ANY OF OUR NET LONGS AS THE COMEX LEVEL OI WAS EXTREMELY LOW AND VERY VERY STICKY.
SUMMARY: EXCHANGE FOR RISK ISSUANCE IN JULY:
ON WEDNESDAY MORNING,JULY 23, MUCH TO MY SHOCK, AFTER A TWO MONTH HIATUS,THE CME ANNOUNCED A 500 EXCHANGE FOR RISK CONTRACT ISSUANCE FOR 50,000 OZ OR 1.555 TONNES. THEN JULY 30 THE CME ANNOUNCED (ISSUED) MUCH TO MY HORROR ITS SECOND EXCHANGE FOR RISK FOR 706 CONTRACTS OR 70,600 OZ (2.195 TONNES) AS THE BANK OF ENGLAND WAS NOT SATISFIED AND NEEDS MORE GOLD TO COVER ITS LEASES TO BULLION BANKS. ( IT WAS NOT THE FRBNY WHO ALSO OWES GOLD TO THE BIS AND THEY NEED TO COVER BADLYAS YOU WILL SEE).THE TOTAL EXCHANGE FOR RISK FOR THE MONTH OF JULY WAS RECORDED AT 3.750 TONNES OF GOLD WHICH WAS ADDED TO OUR REGULAR DELIVERY TO GIVE US OUR FINAL TOTALS FOR JULY!
AS MENTIONED ABOVE: TONIGHT WE HAD 0 CONTRACTS ISSUED FOR EXCHANGE FOR RISK FOR AUGUST:
SUMMARY EXCHANGE FOR RISK ISSUANCE IN AUGUST;
EARLY THURSDAY MORNING, AUGUST 7 THE CME ANNOUNCED MUCH TO MY HORROR ITS FIRST EXCHANGE FOR RISK ISSUANCE FOR AUGUST OF A MONSTER 1750 CONTRACTS FOR 175,000 OZ OR (5.4432 TONNES OF GOLD, THIRD HIGHEST ON RECORD!!. WITH ALL THE CHAOS AT THE COMEX IT WAS NO SURPRISE THAT THEY ISSUED THEIR SECOND EXCHANGE FOR RISK, AUG 10 TOTALLING 776 CONTRACTS OR 77,600 OZ (2.418 TONNES).MUCH TO MY ANGER TONIGHT, THE CME ANNOUNCED ITS 3RD EXCHANGE FOR RISK OF 848 CONTRACTS TOTALLING 84,800 OZ OR 2.637 TONNES.
THUS THE TOTAL FOR AUGUST IS 3374 CONTRACTS OR 337,400OZ OR 10.4932 TONNES WHICH WILL BE ADDED TO OUR NORMAL DELIVERY TOTALS. THE RECEPIENT OF THIS LARGESS IS PROBABLY NOW THE BANK OF ENGLAND AS WE HAVE JUST LEARNED THAT THE FRBNY HAS RETURNED ONLY 14,000 OZ AS THEIR LOANS TO THE BIS REMAIN AT 34+ TONNES.(JULY 31 FIGURES) IT SEEMS NOW THAT THE BANK OF ENGLAND IS IN QUITE A HURRY TO GET ITS GOLD BACK!! (AND PROBABLE OWNER OF THOSE EXCHANGE FOR RISK CONTRACTS)
HISTORY: LAST SEVEN 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: 2 OCCASIONS LATE IN JULY: 1206 CONTRACTS FOR 120,600 OZ OR 3.750 TONNES/ISSUED JULY 23/2025 AND JULY 30/2025
AUGUST: 3 ISSUANCES FOR A MONSTER 3374 CONTRACTS OR 337,400 OZ ( 10.4932 TONNES)
AS I EXPLAINED ABOVE,:THE RECPIENT OF EXCHANGE FOR RISK COULD BE EITHER:
- THE BANK OF ENGLAND WHO CONTINUES TO LEASE OUT ITS GOLD TO BULLION BANKS
- THE FEDERAL RESERVE BANK OF NEW YORK (NEED TO RETRIEVE THEIR LEASED GOLD FROM THE BIS)
THE COUNTERPARTY TO EITHER THE BANK OF ENGLAND’S OR THE FRBNY ARE BULLION BANKS THAT CANNOT VERIFY THAT THEIR GOLD IS UNENCUMBERED. THE BUYER, REPRESENTING THE CENTRAL BANK OF ENGLAND OR THE FRBNY, ASSUMES THE RISK OF THAT DELIVERY. THIS IS THE 7TH MONTH FOR ISSUANCE OF EXCHANGE FOR RISK !!.(DEC THROUGH AUGUST.)……… THE FACT THAT A CENTRAL BANK TAKES THE RISK OF A DELIVERY IS TOTALLY INSANE.
DETAILS ON AUGUST COMEX MONTH//INITIAL
IN TOTAL WE HAD A FAIR SIZED LOSS ON OUR TWO EXCHANGES OF 3199 CONTRACTS WITH OUR LOSS IN PRICE. HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN THROUGHOUT OF THE WEEK AS THEY WERE READY FOR THE FRBNY.S CONTINUED ORCHESTRATED ATTACKS VERY EARLY IN THE COMEX SESSIONS AS THEY TRIED TO ABSORB EVERYTHING IN SIGHT FROM THEIR DAILY ATTACKS. LONDONERS EXERCISED THEIR BOUGHT CONTRACTS FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE AND THANKED THE FRBNY FOR THE THOUGHTFULNESS. LONDON ANNOUNCED EARLY IN THE YEAR (AND SCARCITY CONTINUES TO THIS DAY) 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 INCREASED TO 5.0% LATELY AS GOLD IN LONDON IS STILL EXTREMELY SCARCE.
THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THE MONTHS OF JUNE , JULY AND NOW AUGUST 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 IS HOWEVER A FAIR T.A.S ISSUANCE AS THE CME NOTIFIES US THAT THEY HAVE ISSUED A 1,056 T.A.S CONTRACTS. THESE T.A.S ISSUANCES ARE USED FOR RAID PURPOSES TO STOP GOLD’S RISE AND TO TEMPER HUGE LOSSES IN OTC DERIVATIVE BETS AND IT WAS IN FULL FORCE WITH LAST WEEK’S RAID DURING COMEX OPTION EXPIRY WEEK. THE TAS SPREADER LIQUIDATIONS COMBINE AT MONTH END WITH OUR MONTHLY SPREADERS AS THEY JOIN FORCES IN AN ATTEMPT TO TEMPER THE GOLD/SILVER PRICE GAINS. THE RAIDS ON OUR PRECIOUS METALS CONTINUED TWO WEEKS AGO WITH HUGE FURY AS WE FINALIZED THE LONDON/OTC OPTION EXPIRY.
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. IN JULY WE HAD HUGE DELIVERY NOTICES ESPECIALLY FOR A NON ACTIVE DELIVERY MONTH WITH INITIAL STANDING AT 17.947 TONNES PLUS A QUEUE JUMP OF 1.577 TONNES QUEUE JUMP + 1.555 TONNES EX FOR RISK PRIOR + 2.195 TONNES EX FOR RISK = 41.106 TONNES OF GOLD
NEW FINAL TOTAL TONNES STANDING JULY: 41.106 TONNES
AND NOW FOR THE MONTH OF AUGUST:
INITIAL AMOUNT OF GOLD STANDING FOR AUGUST: 60.547 TONNES PLUS TODAY’S HUGE QUEUE JUMP OF 0.7030 TONNES +10.4932 TONNES EX FOR RISK (3 ISSUANCES) //NEW STANDING 105.926 TONNES
THE FED IS THE OTHER MAJOR SHORT OF AROUND 34+ 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 TO 235 EPISODES AS HE TACKLES THIS IMPORTANT TOPIC. THE MAJOR FOUR OR FIVE BANKS ARE ALSO WORRIED ABOUT THEIR HUGE PRECIOUS METAL DERIVATIVE SHORT 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 DOES NOT LOOK LIKE THE BIS HAS GIVEN THE FED ITS MARCHING ORDERS TO COVER ITS PHYSICAL GOLD SHORT AS THEIR OUTSTANDING LOAN REMAINS ON THE BOOKS OF THE BIS. TRUMP WILL PROBABLY BE FURIOUS WITH THE FED IF HE FINDS OUT THAT THEY (FRBNY) HAS BEEN MANIPULATING THE GOLD MARKET FOR THE PAST TWO YEARS. THE FRBNY IS NOW NON COMPLIANT WITH RESPECT TO BASEL III BUT IT IS NOT NECESSARY FOR THEM TO BE COMPLIANT ONLY COMMERCIAL BANKERS MUST BE.
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 ( 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.
WE HAVE A HUGE 60.547 TONNES OF INITIAL GOLD STANDING FOR AUGUST, FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 0.7030 TONNES TO WHICH WE ADD AUGUST 7TH,S HUGE 5.443 TONNES EXCHANGE FOR RISK ISSUANCE + SATURDAY’S HUGE 776 CONTRACT EXCHANGE FOR RISK FOR 2.413 TONNES AND THEN AUGUST 12: 2.637 TONNES:/NEW STANDING ADVANCES TO 105.926 TONNES.
EXCHANGE FOR PHYSICAL ISSUANCE
THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A FAIR SIZED 1767 EFP CONTRACT WAS ISSUED: : /DEC 1767 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 1767 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 :
- CONSIDERABLE LIQUIDATION OF OUR T.A.S. SPREADERS//THURSDAY
- MONTH END SPREADERS WILL APPEAR ON THE LAST WEEK OF AUGUST.
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 THURSDAY NIGHT/FRIDAY MORNING WAS A FAIR SIZED SIZED 1056 CONTRACTS
THE RAIDS WHETHER ON OPTIONS EXPIRY MONTH OR OTHERWISE LIKE LAST WEEK ON OPTIONS EXPIRY WEEK 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..
THAT SET UP YESTERDAY’S GAIN IN PRICE IN GOLD AND A CORRESPONDING SMALL LOSS OF COMEX OI AND A FAIR EXCHANGE FOR PHYSICAL ISSUANCE.. THE COMEX IS IN TOTAL TURMOIL ESPECIALLY WITH JULY’S RARE TWO ISSUANCES OF EXCHANGE FOR RISK (LATE IN JULY) AND THIS WAS FOLLOWED WITH AUGUST’S FIRST THREE ISSUANCES OF EXCHANGE FOR RISK FOR 10.4932 TONNES
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 0 TONNES QUEUE JUMP + 1.555 TONNES EX FOR RISK/PRIOR + 2.195 EX FOR RISK TODAY = = 41.106 TONNES
AUGUST:INITIAL AMOUNT OF GOLD STANDING: 60.547 TONNES FOLLOWED TO TODAY’S QUEUE JUMP OF 0.7030 TONNES TO WHICH WE ADD LAST THURSDAY’S HUGE 5.4432 EXCHANGE FOR RISK, SATURDAY’S STRONG 776 CONTRACT ISSUANCE (77600 OZ) FOR 2.413 TONNES AND THEN WEDNESDAY.S AUGUST 12 FOR 2.637 TONNES/// TOTAL EX FOR RISK AUGUST = 10.4932 TONNES//NEW STANDING ADVANCES AS FOLLOWS:
95.433 TONNES NORMAL DELIVERIES (INCLUDES ALL QUEUE JUMPS) +
5.4432 TONNES EXCHANGE FOR RISK/PRIOR/AUGUST 7
2.413 TONNES EXCHANGE FOR RISK AUGUST 11
PLUS 2.637 TONNES EX FOR RISK AUGUST 12
EQUALS
105.926 TONNES TONNES OF GOLD.
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 48 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/AUGUST CONTRACT MONTH
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY A $20.80/ /) AND WERE UNSUCCESSFUL IN KNOCKING OFF A FEW NET SPECULATOR LONGS AS WE DID HAVE A FAIR SIZED LOSS IN OI FROM TWO EXCHANGES. BUT AS EXPLAINED ABOVE WE HAD CONSIDERABLE T.A.S. SPREADER LIQUIDATION ///. 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 T.A.S. ISSUANCES, IN ORDER TO FORMALIZE RAIDS ON OUR PRECIOUS METALS WHICH OF COURSE NORMALLY ENDS IN TOTAL FAILURE LIKE IT DID WITH YESTERDAYS TRADING!.
FRIDAY MORNING//THURSDAY 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 THURSDAY EVENING/ FRIDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD TO ARRIVE BY BOAT. IT IS NOW TAKING WEEKS TO DELIVER
SUMMARY OF NUMBER OF EXCHANGE FOR RISK ISSUANCES: FEB THROUGH AUGUST 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 283,400 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; AFTER A TWO MONTH HIATUS AFTER AN INITIAL ISSUANCE OF 500 CONTRACTS FOR 50,000 OZ OR 1.555 TONNES OF GOLD (OCCURRED ON JULY 25) THE CME NOTIFIED US OF A SECOND ISSUANCE OF 706 CONTRACTS FOR 70,600 OZ OR 2.195 TONNES WHICH WILL BE ADDED TO OUR OFFICIAL STANDING. THUS 35.176 TONNES OFFICIAL STANDING + 1.555 TONNES EX FOR RISK PRIOR + 2.195 TONNES EX FOR RISK TODAY = 41.106 TONNES OF GOLD STANDING
AUGUST: THREE SO FAR, AUGUST 7 THROUGH AUG 12 AT 3374 CONTRACTS FOR 337,400 OZ (10.4932 TONNES OF GOLD) TOTAL EXCHANGE FOR RISK MONTH OF AUGUST 10.4932 TONNES
THUS 95.437 TONNES OF NORMAL GOLD STANDING (INCLUDING ALL QUEUE JUMPS) + 10.4932 TONNES = 105.926 TONNES.
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ANALYSIS AUGUST DELIVERY MONTH GOING FROM FIRST DAY NOTICE// AUGUST COMEX CONTRACT
WE HAVE LOST A FAIR SIZED TOTAL OF 9.90 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR AUGUST FIRST RECORDED AT 60.547 TONNES ON FIRST DAY NOTICE TO WHICH WE ADD LAST THURSDAY’S RECORD BREAKING QUEUE JUMP OF 10.8775 TONNES OF GOLD ON TOP OF TUESDAY’S 1.7604 TONNES QUEUE JUMP AND THEN WEDNESDAY;S MASSIVE QUEUE JUMP OF 3.527 TONNES AND THEN THURSDAY’S HUGE 2.463 TONNES QUEUE JUMP AND THEN TODAY;S QUEUE JUMP OF .7030 TONNES TO WHICH WE THEN ADD OUR THREE EXCHANGE FOR RISK/PRIOR FOR 10.4932 TONNES FOR RISK//NEW STANDING ADVANCES TO 105.926 TONNES
ALL OF THIS HUGE STANDING FOR AUGUST WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $20.80
WE HAD A HUGE 11,134 CONTRACTS REMOVED TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL.
NET LOSS ON THE TWO EXCHANGES 3199 CONTRACTS OR 319,900 0Z (9.95 TONNES)
confirmed volume THURSDAY 180,976 contracts// poor
speculators have left the gold arena
END
INITIAL GOLD COMEX
END
INITIAL GOLD COMEX
AUGUST CONTRACT MONTH
AUGUST15 /2025
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 1 entry I) OUT OF ASAHI; 6088.672 OZ total withdrawal; 6088.672 oz . |
| Deposit to the Dealer Inventory in oz | 0 ENTRIES |
| Deposits to the Customer Inventory, in oz | DEPOSITS/CUSTOMER \0 ENTRY xxxxxxxxxxxxxxxxI |
| No of oz served (contracts) today | 162 notice(s) 16,200 OZ 0.5039 TONNES |
| No of oz to be served (notices) | 1393 contracts 139300 OZ 4.333 TONNES |
| Total monthly oz gold served (contracts) so far this month | 29,289 notices 2,928,900 oz 91.101 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 ENTRIES
xxxxxxxxxxxxxxxxxxxxx
DEPOSITS/CUSTOMER
DEPOSITS/CUSTOMER
0 ENTRY
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
customer withdrawal
1 entry
1 entry
I) OUT OF ASAHI; 6088.672 OZ
total withdrawal; 6088.672 oz
adjustments: one
out of Asahi: dealer to customer acct 42,128.330 oz
nil
AMOUNT OF GOLD STANDING FOR AUGUST
THE FRONT MONTH OF AUGUST STANDS AT 1555 CONTRACTS FOR A LOSS OF 1221 CONTRACTS
WE HAD 1447 CONTRACTS SERVED ON THURSDAY SO WE GAINED A HUGE SIZED 226 CONTRACTS OR 22,600 OZ OF GOLD (0.7030 TONNES) EXERCISED A QUEUE JUMP AS THEY WERE WILLING TO STAND FOR PHYSICAL METAL ON THIS SIDE OF THE POND.. THIS ALSO REPRESENTS CENTRAL BANKS STANDING FOR PHYSICAL GOLD AND THEIR APPETITE FOR THIS GOLD IS UNABATED!
SEPT LOST 127 CONTRACTS TO 5051
OCTOBER LOST 282 CONTRACTS UP TO 61,554
We had 162 contracts filed for today representing 16,200 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 105 notices issued from their client or customer account. The total of all issuance by all participants equate to 162 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 87 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for AUGUST /2025. contract month, we take the total number of notices filed so far for the month (29,289 X 100 oz ) to which we add the difference between the open interest for the front month of AUGUST ( 1555 CONTRACTS) minus the number of notices served upon today (162 x 100 oz per contract) equals 3,068,200 OZ OR 95.433TONNES TO WHICH WE ADD OUR THREE ISSUANCES OF 10.4932 TONNES OF EXCHANGE FOR RISK/AUG 7 , 11 AND 12TH = 105.936 TONNES.
thus the INITIAL standings for gold for the AUGUST contract month: No of notices filed so far (29,289 x 100 oz +we add the difference for front month of AUGUST (1555 OI} minus the number of notices served upon today (162 x 100 oz) which equals 3,068,200 OZ OR 95.433 TONNES + 10.4932 TONNES EX FOR RISK = 105.936 TONNES
TOTAL COMEX GOLD STANDING FOR AUGUST.: 105.936 TONNES WHICH IS HUGE FOR THIS NORMALLY 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: 2,016,810.364 oz 62.73 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 38,642,421.131 oz
TOTAL REGISTERED GOLD 21,308,803.358 or 662.79 tonnes
TOTAL OF ALL ELIGIBLE GOLD 17,327,528.901 OZ
END
REGISTERED GOLD THAT CAN BE SERVED UPON 19,291,993 oz ((REG GOLD- PLEDGED GOLD)= 600.06tonnes // ( a bid drop of 10 tonnes
total inventories in gold declining rapidly
SILVER/COMEX
SILVER/COMEX
THE AUGUST 2025 SILVER CONTRACT//INITIAL
AUGUST 15 2025
INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 1 entries: i) Out of Brinks: 10,142.490 oz total withdrawal: 10,142.490 |
| Deposits to the Dealer Inventory | 0 ENTRY |
| Deposits to the Customer Inventory | 1 DEPOSIT ENTRY/CUSTOMER ACCOUNT i) Into CNT 546,785.700 ooz total deposit 546,785.700 oz |
| No of oz served today (contracts) | 0 CONTRACT(S) (nil OZ |
| No of oz to be served (notices) | 25 contracts (0.125 MILLION oz) |
| Total monthly oz silver served (contracts) | 1720 Contracts (8.60 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 deposit into dealer accounts
0 ENTRY
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
1 DEPOSIT ENTRY/CUSTOMER ACCOUNT
i) Into CNT 546,785.700 ooz
total deposit 546,785.700 oz
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx)
withdrawals: customer side/eligible
1 entries:
i) Out of Brinks: 10,142.490 oz
total withdrawal: 10,142.490
ADJUSTMENTs 0
TOTAL REGISTERED SILVER: 190.400 MILLION OZ//.TOTAL REG + ELIGIBLE. 507.551 Million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JULY
silver open interest data:
FRONT MONTH OF AUGUST /2025 OI: 25 OPEN INTEREST CONTRACTS FOR A GAIN OF 5 CONTRACTS. WE HAD 0 CONTRACTS SERVED ON THURSDAY SO WE GAINED 5 CONTRACTS OR AN ADDITIONAL 25,000 OZ WILL STAND AT THE COMEX.
SEPTEMBER LOST 1864 CONTRACTS DOWN TO 70.294 CONTRACTS.
OCTOBER GAINED 91 CONTRACTS TO 791
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 0 or NIL oz
CONFIRMED volume; ON THURSDAY 64,397 good//
AND NOW AUGUST DELIVERIES:
To calculate the number of silver ounces that will stand for delivery in AUGUST. we take the total number of notices filed for the month so far at 1720 X5,000 oz = 8.600 MILLION oz
to which we add the difference between the open interest for the front month of AUGUST (25) AND the number of notices served upon today (0 )x (5000 oz)
Thus the standings for silver for the AUGUST 2025 contract month: (1720) Notices served so far) x 5000 oz + OI for the front month of AUGUST(25) minus number of notices served upon today (0)x 5000 oz equals silver standing for the AUGUST contract month equating to 8.725 MILLION OZ .
New total standing: 8.725 million oz which is pretty good for this NON active delivery month of AUGUST. 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 190.400 million oz of registered silver
JPMorgan as a percentage of total silver: 210.283/507.041 million. 41.47%
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!
AUGUST 15 WITH GOLD DOWN $0.45 TODAY/HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 2.86 TONNES OF GOLD//// ///INVENTORY RESTS AT 961.36 TONNES
AUGUST 14 WITH GOLD DOWN $20.80 TODAY//NO CHANGES IN GOLD AT THE GLD://// ///INVENTORY RESTS AT 964.22 TONNES
AUGUST 13 WITH GOLD UP $9.65 TODAY//NO CHANGES IN GOLD AT THE GLD://// ///INVENTORY RESTS AT 964.22 TONNES
AUGUST 12 WITH GOLD UP $2.65 TODAY//HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 4.58 TONNES OF GOLD INTO THE GLD/://// ///INVENTORY RESTS AT 964.22 TONNES
AUGUST 11 WITH GOLD DOWN $53.55 TODAY//SMALL CHANGES IN GOLD AT THE GLD A DEPOSIT DEPOSIT OF 0.55 TONNES OF GOLD INTO THE GLD/://// ///INVENTORY RESTS AT 959.64 TONNES
AUGUST 8 WITH GOLD UP $10.00 TODAY//HUGE CHANGES IN GOLD AT THE GLD A HUGE DEPOSIT OF 6.30 TONNES OF GOLD INTO THE GLD/://// ///INVENTORY RESTS AT 959.09 TONNES
AUGUST 7 WITH GOLD UP $16.10 TODAY//HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 3.15 TONNES OF GOLD OUT OF THE GLD/://// ///INVENTORY RESTS AT 952.79 TONNES
AUGUST 6 WITH GOLD DOWN $8.15 TODAY//HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.14 TONNES OF GOLD INTO THE GLD/://// ///INVENTORY RESTS AT 955.94 TONNES
AUGUST 5 WITH GOLD UP $8.45 TODAY//HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.72 TONNES OF GOLD INTO THE GLD/://// ///INVENTORY RESTS AT 954.80 TONNES
AUGUST 4 WITH GOLD UP $24.65 TODAY//HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.43 TONNES OF GOLD FROM THE GLD/://// ///INVENTORY RESTS AT 953.08 TONNES
AUGUST 1 WITH GOLD UP $51.40 TODAY//HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.72 TONNES OF GOLD FROM THE GLD/://// ///INVENTORY RESTS AT 954.51 TONNES/
JULY 31 WITH GOLD DOWN $2.65 TODAY//NO CHANGES IN GOLD AT THE GLD://// ///INVENTORY RESTS AT 956.23 TONNES/
JULY 30 WITH GOLD DOWN $27.50 TODAY//NO CHANGES IN GOLD AT THE GLD://// ///INVENTORY RESTS AT 956.23 TONNES/
JULY 29 WITH GOLD UP $16.45 TODAY//SMALL CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 0.86 TONNES OF GOLD FROM THE GLD/ //// ///INVENTORY RESTS AT 956.23 TONNES/
JULY 28 WITH GOLD DOWN $24.00 TODAY//NO CHANGES IN GOLD AT THE GLD: //// ///INVENTORY RESTS AT 957.09 TONNES/
JULY 25 WITH GOLD DOWN $37.30 TODAY//HUGE CHANGES IN GOLD AT THE GLD: A HUGE DEPOSIT OF 2.29 TONNES OF GOLD INTO THE GLD//// ///INVENTORY RESTS AT 957.09 TONNES/
JULY 24 WITH GOLD DOWN $17.30 TODAY//HUGE CHANGES IN GOLD AT THE GLD: NO CHANGES AT THE GLD// ///INVENTORY RESTS AT 954.80 TONNES/
JULY 23 WITH GOLD DOWN $40.00 TODAY//HUGE CHANGES IN GOLD AT THE GLD:A FRAUDULENT DEPOSIT OF 7.74 TONNES OF GOLD OUT OF THE GLD// ///INVENTORY RESTS AT 954.80 TONNES/
JULY 22 WITH GOLD UP $36.60 TODAY//HUGE CHANGES IN GOLD AT THE GLD:A FRAUDULENT DEPOSIT OF 3.43 TONNES OF GOLD INTO THE GLD// ///INVENTORY RESTS AT 947.06 TONNES/
JULY 21 WITH GOLD UP $40.30 TODAY//HUGE CHANGES IN GOLD AT THE GLD:A FRAUDULENT WITHDRAWAL OF 4.87 TONNES OF GOLD OUT OF THE GLD// ///INVENTORY RESTS AT 943.63 TONNES/
JULY 18 WITH GOLD UP $11.10 TODAY//HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 2.29 TONNES OF GOLD OUT OF THE GLD// ///INVENTORY RESTS AT 948.50 TONNES/
JULY 17 WITH GOLD DOWN $11.10 TODAY//HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 3.14 TONNES OF GOLD INTO THE GLD// ///INVENTORY RESTS AT 950.79 TONNES/
JULY 16 WITH GOLD UP $22.70 TODAY//NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 947.64 TONNES/
JULY 15 WITH GOLD DOWN $20.80 TODAY//HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.17 TONNES OF GOLD INOT THE GLD //: /// ///INVENTORY RESTS AT 947.64 TONNES/
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
GLD INVENTORY: 961.36 TONNES, TONIGHTS TOTAL
SILVER
AUGUST 15 WITH SILVER DOWN $0.04/ SMALL CHANGES AT THE SLVA WITHDRAWAL OF .909 MILLION OZ FROM THE SLV//////INVENTORY RESTS AT 484.553 MILLION OZ.//
AUGUST 14 WITH SILVER DOWN $0.52/ NO CHANGES AT THE SLV/////INVENTORY RESTS AT 485.462 MILLION OZ.//
AUGUST 13 WITH SILVER UP $0.62/ HUGE CHANGES AT THE SLV// A DEPOSIT OF 1.317 MILLION OZ INTO THE SLV:.////INVENTORY RESTS AT 485.462 MILLION OZ.//
AUGUST 12 WITH SILVER UP $0.68/ HUGE CHANGES AT THE SLV// A DEPOSIT OF 2.18 MILLION OZ FORM THE SLV:.////INVENTORY RESTS AT 484.145 MILLION OZ.//
AUGUST 11 WITH SILVER DOWN $0.56/ HUGE CHANGES AT THE SLV// A WITHDRAWAL OF 3.905 MILLION OZ FORM THE SLV:.////INVENTORY RESTS AT 481.965 MILLION OZ.//
AUGUST 8 WITH SILVER UP $0.20/ NO CHANGES AT THE SLV//:.////INVENTORY RESTS AT 485.870 MILLION OZ.//
AUGUST 7 WITH SILVER UP $0.25/ HUGE CHANGES AT THE SLV//: A DEPOSIT OF 2.179 MILLION OZ OUT OF THE SLV.////INVENTORY RESTS AT 485.870 MILLION OZ.//
AUGUST 6 WITH SILVER UP $0.02/ SMALL CHANGES AT THE SLV//: A DEPOSIT OF 0.727 MILLION OZ OUT OF THE SLV.////INVENTORY RESTS AT 483.691 MILLION OZ.//
AUGUST 5 WITH SILVER UP $1.51/ SMALL CHANGES AT THE SLV//: A WITHDRAWAL OF 1.119 MILLION OZ OUT OF THE SLV.////INVENTORY RESTS AT 482.964 MILLION OZ.//
AUGUST 4 WITH SILVER UP $0.50/ SMALL CHANGES AT THE SLV//: A WITHDRAWAL OF 0.183 MILLION OZ INTO THE SLV.////INVENTORY RESTS AT 484.083 MILLION OZ.//
AUGUST 1 WITH SILVER UP $0.19/ HUGE CHANGES AT THE SLV//: A WITHDRAWAL OF 2.816 MILLION OZ INTO THE SLV.////INVENTORY RESTS AT 484.264 MILLION OZ.//
JULY 31 WITH SILVER DOWN $1.00/ HUGE CHANGES AT THE SLV//: A DEPOSIT OF 0.454 MILLION OZ INTO THE SLV.////INVENTORY RESTS AT 487/398 MILLION OZ.//
JULY 30 WITH SILVER DOWN $0.54/ HUGE CHANGES AT THE SLV//: A DEPOSIT OF 0.454 MILLION OZ INTO THE SLV.////INVENTORY RESTS AT 487.852 MILLION OZ.//
JULY 29 WITH SILVER UP $0.11/ HUGE CHANGES AT THE SLV//: A WITHDRAWAL OF 2.211 MILLION OZ OUT OF THE SLV.////INVENTORY RESTS AT 487.398 MILLION OZ.//
JULY 25 WITH SILVER DOWN $0.84/ NO CHANGES AT THE SLV//:.////INVENTORY RESTS AT 488.942 MILLION OZ.//
JULY 24 WITH SILVER DOWN $0.11/ HUGE CHANGES AT THE SLV// A FRAUDLENT DEPOSIT OF 4.906 MILLION OZ INTO THE SLV//:.////INVENTORY RESTS AT 488.942 MILLION OZ.//
JULY 23 WITH SILVER DOWN $0.04/ HUGE CHANGES AT THE SLV// A FRAUDLENT DEPOSIT OF 4.906 MILLION OZ INTO THE SLV//:.////INVENTORY RESTS AT 487.353 MILLION OZ.//
JULY 22 WITH SILVER UP $0.20/ HUGE CHANGES AT THE SLV// A FRAUDLENT DEPOSIT OF 11.175 MILLION OZ OUT OF THE SLV//:.////INVENTORY RESTS AT 482.447 MILLION OZ.//
JULY 21 WITH SILVER UP $0.78/ HUGE CHANGES AT THE SLV// A FRAUDLENT WITHDRAWAL OF 1.181 MILLION OZ OUT OF THE SLV//:.////INVENTORY RESTS AT 471.272 MILLION OZ.//
JULY 18 WITH SILVER UP $0.13/ HUGE CHANGES AT THE SLV// A FRAUDLENT WITHDRAWAL OF 3.998 MILLION OZ OUT OF THE SLV//:.////INVENTORY RESTS AT 472.453 MILLION OZ.//
JULY 17 WITH SILVER UP $0.22/ HUGE CHANGES AT THE SLV// A FRAUDLENT WITHDRAWAL OF 1.181 MILLION OZ OUT OF THE SLV//:.////INVENTORY RESTS AT 476.451 MILLION OZ.//
JULY 16 WITH SILVER UP $0.09/ HUGE CHANGES AT THE SLV// A FRAUDLENT WITHDRAWAL OF 3.543 MILLION OZ OUT OF THE SLV//:.////INVENTORY RESTS AT 477.632 MILLION OZ.//
JULY 15 WITH SILVER DOWN $0.65/ HUGE CHANGES AT THE SLV// A DEPOSIT OF 2.453 MILLION OZ OUT OF THE SLV//:.////INVENTORY RESTS AT 481.175 MILLION OZ.//
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.
CLOSING INVENTORY 484.553 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1/ PETER SCHIFF/SCHIFF
PETER SCHIFF
2. MATHEW PIEPENBERG/VON GREYERZ/RON STOEFERLE
ALASDAIR MACLEOD…
PMs — the lull before the storm
Expectations for Trump’s meeting with Putin in Alaska have been downplayed but diverted attention from a stalling US and global economy.
| Alasdair MacleodAug 15∙Paid |
Any independent observer will note that the outlook for the dollar is deteriorating, credit risk rising, and a debt trap is being sprung on the US Treasury. Tonight’s Alaska circus is a diversion from this reality.
Gold and silver continued to consolidate earlier gains this week, but the market underneath continues to tighten. In European morning trade today gold was $3340, down $60 from last Friday’s close, and silver was $37.90, down 40 cents. Comex volumes in both contracts declined over the week, in silver’s case from the noticeably high levels seen the previous week.
Market makers face a flight out of paper into gold
A stand-out feature was the scale of stand-for-deliveries in the Comex gold contract, at 90.6 tonnes from 31 July so far, reflecting the expiry of the August contract. 267.5 tonnes of silver were also stood for delivery. To put these numbers in context, 861 tonnes of gold have been stood for delivery since 1 January. Comex gold warehouse stocks total 1,201.3 tonnes and have begun to rise again. How much of this is gold yet to be delivered but in Comex warehouses is not known. This chart is from MacroMicro:
Of course, Comex is only part of the overall picture. And with respect to futures, the Shanghai futures exchange is opening direct access to non-Chinese entities which will take trading liquidity away from Comex. This move is consistent with the internationalisation of China’s capital markets, centred on gold and silver trading in yuan.
That is for the future. Meanwhile, Comex gold futures still remain relatively oversold with low participation. This is next:
At 450,000 contracts, open interest is close to oversold territory, yet the swaps taking the short side are close to record short in value terms:
This chart will update tonight to reflect last Tuesday’s position. But with open interest on 5 August at 449,647 contracts and a gold price $40 above today’s gross shorts were $92.3 billion held between 27 traders, and the net position was $80bn. It amounts to a serious squeeze on the market-making establishment, faced with converting paper into physical gold.
The only escape for the swaps is a reversal of the gold price’s drivers. But that is unlikely, with credit risk in the fiat dollar increasing. If anything, currency and financial markets face growing instability. The next chart updates the dollar’s TWI:
Not only is the dollar’s TWI heading lower technically, but Trump’s avowed policy is for a lower dollar and lower interest rates. The pressure on the Fed to reduce its funds rate have mounted to the extent that a 0.25% cut in September is a done deal, despite reservations about the course of inflation. Adding to the political interference is Trump’s appointment to the Fed of Stephen Miren, subject to Senate confirmation. As an inflation dove, presumably he will be in a position to be nominated as Chairman by Trump when Jay Powel’s term ends next year.
In contrast to political pressures for lower interest rates and a lower dollar, these same policies will drive longer maturity bond yields higher. And when the long bond yield breaks the 5% barrier, a consolidation will be completed projecting yields to 9% or more (move in from 2020 equals move out above 5%):
This would be devastating for the dollar and the entire fiat currency system.
Driving it will be an emerging debt trap, rapidly increasing the ratio of government debt to GDP. Outstanding debt is already rising at an increased pace, and the private sector, ex-budget deficit is contracting. Furthermore, the dollar is over owned by foreigners facing losses on dollars and underlying financial assets as the overall position unfolds.
Gold is the principal escape from this emerging catastrophe for the dollar. Other currency alternatives are simply unattractive. The next chart from Thorsten Polleit shows the catastrophe that is Germany, at the core of the Eurozone:
The euro is the largest component of the dollar’s TWI by far at over 50%.
When we emerge from our summer lethargy, markets will see something which macroeconomic textbooks say should not happen. Bond yields will be rising, and the gold price will rise as well. Where the textbooks are wrong is to ignore the risks arising from a dollar collapse; risks which the Fed under a new dovish chair will refuse to face, triggering massive flows out of the fiat dollar benefiting gold, which is real money and everyone’s final settlement.
3. CHRIS POWELL AND GATA GOLD DISPATCHES/OTHER GOLD RELATED TOPICS
4. ANDREW MAGUIRE/LIVE FROM THE VAULT KINESIS 236
5. COMMODITY REPORT.
ASIAN MARKETS THIS THURSDAY MORNING:
SHANGHAI CLOSED UP 30.33 PTS OR 0.83%
//Hang Seng CLOSED DOWN 249.25 PTS OR 0.98%
// Nikkei CLOSED UP 729.05 PTS OR 1.71% //Australia’s all ordinaries CLOSED UP 0.69%
//Chinese yuan (ONSHORE) CLOSED DOWN AT 7.1805 OFFSHORE CLOSED DOWN AT 7.1842/ Oil UP TO 63.26 dollars per barrel for WTI and BRENT UP TO 66.17 Stocks in Europe OPENED MOSTLY ALL GREEN
ONSHORE USA/ YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN DOWN IN TRADING AT 7.1805 AND WEAKER//OFF SHORE YUAN TRADING DOWN TO 7.1842 AGAINST US DOLLAR/ AND THUS WEAKER
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN TO 7.1805 (CHINESE COMMUNIST PARTY MANIPULATED)
OFFSHORE YUAN: UP TO 7.1842
HANG SENG CLOSED DOWN 249.25 PTS OR 0.98%
2. Nikkei closed UP 729.05 PTS OR 1.71%
3. Europe stocks SO FAR: MOSTLY ALL GREEN
USA dollar INDEX UP TO 97.75/ EURO RISES TO 1.1681 UP 30 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +1.568//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 146.85…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen UP CHINESE ONSHORE YUAN: DOWN OFFSHORE: DOWN
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and UP FOR BRENT this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.7351/Italian 10 Yr bond yield UP to 3.550 SPAIN 10 YR BOND YIELD UP TO 3.290%
3i Greek 10 year bond yield UP TO 3.412
3j Gold at $3343.00 Silver at: 37.91 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 40 /100 roubles/dollar; ROUBLE AT 80.14
3m oil (WTI) into the 63 dollar handle for WTI and 66 handle for Brent/
3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/
JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 146.85// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.565% 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 0.8053 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9406 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: 4.285 DOWN 1 BASIS PTS…
USA 30 YR BOND YIELD: 4.872 DOWN 1 BASIS PTS/
USA 2 YR BOND YIELD: 3.723 DOWN 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 40980
10 YR UK BOND YIELD: 4.6460 UP 1 PTS
10 YR CANADA BOND YIELD: 3.412 UP 0 BASIS PTS
5 YR CANADA BOND YIELD: 2.945 UP 0 PTS
2a New York OPENING REPORT
2b European opening report
Modestly firmer risk tone into Tier 1 US data points & Alaska summit – Newsquawk US Market Open
Friday, Aug 15, 2025 – 06:33 AM
- Trump and Putin will meet in Alaska at 20:00BST/15:00ET, Trump will then depart just under seven hours later.
- European bourses began with gains, Euro Stoxx 50 +0.4%; follows a mostly higher APAC handover as soft Chinese data was shrugged off.
- US futures firmer, but have drifted off best in the European morning, ES +0.1%; UNH +12% and INTC +4.5% in the pre-market.
- USD gives back some of its PPI-inspired gains, JPY tops the G10 leaderboard after domestic data.
- A contained start for USTs into Tier 1 data points and the Alaska summit, Bunds dipped on the constructive European risk tone.
- Crude benchmarks lower despite the tone and USD, looking to the Putin-Trump meeting; XAU firmer.
- Looking ahead, highlights include US Retail Sales (Jul), US University of Michigan Prelim (Aug), Import/Export Prices (Jul), Industrial Production (Jul), Atlanta Fed GDP, Fed’s Goolsbee, Trump-Putin summit & Press Conference.
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ALASKA SUMMIT
- White House said US President Trump will participate in a bilateral program with the President of the Russian Federation in Alaska at 11:00 AM (15:00EDT/20:00BST) and will depart Alaska at 17:45 (21:45/02:45BST).
- Russian Foreign Ministry says Moscow expects Trump to visit Russia after the Alaska summit, according to Al Arabiya; “We have a clear position that we will present at the Alaska summit and hope to continue the dialogue” and “We do not speculate on anything in the future and we have clear arguments and positions that we will present during the Alaska summit”.
- Click for the Newsquawk preview on the Alaska summit.
TARIFFS/TRADE
- China is warning western companies against stockpiling rare earths or risk even greater shortages, according to FT.
- China’s MOFCOM files WTO lawsuit against Canada, regarding import restrictions on steel and other products.
EUROPEAN TRADE
EQUITIES
- European bourses began with gains, Euro Stoxx 50 +0.4%; with the STOXX 600 and Euro Stoxx 50 both set for a second straight week of advances.
- Follows a mixed Wall St. finish and a mostly higher APAC handover, as China was strong despite domestic data underwhelming for July and the Nikkei 225 was bolstered by Japanese GDP; though, the Hang Seng succumbed after JD.com earnings.
- In Europe, sectors have a positive bias with Basic Resources, Chemicals, and Autos leading; the latter support by the Volkswagen–Xpeng partnership expansion. Utilities hit by Fortum (-2.5%) numbers while Luxury has been tarnished by Chinese retail sales and Pandora (-12%) missing Q2 expectations.
- US futures in the green though have dipped from best across the European morning, ES +0.1%. Supported by a softer dollar, stable yields, and a constructive tone into the Trump–Putin meeting.
- YM +0.5% leads after 13F filings showed Berkshire Hathaway purchased over 5mln shares in UnitedHealth (+12.5%) during Q2. Elsewhere, Intel (+4.5%) gains in the pre-market after a Bloomberg report just before the US close that the Trump administration is in talks to take a stake, in order to support the Ohio chip facility.
- Click for the sessions European pre-market equity newsflow
- Click for the additional news
- Click for a detailed summary
FX
- USD is giving back some of its PPI-inspired gains, after the DXY briefly eclipsed its 200 DMA at 98.10 on Thursday. Currently, the index is towards lows in a 97.85-98.21 band, holding above Thursday’s 97.63 base. Ahead, we look to Retail Sales (headline and control seen slowing to 0.5% and 0.6% M/M respectively). Additionally, UoM, Industrial Production and Import & Export prices scheduled.
- However, the main focus is on the Alaska summit (preview available), though updates on this are not likely to hit until after-hours as the summit commences at 20:00BST/15:00ET.
- EUR is firmer though macro drivers for the bloc are light once again. Focus for the currency on the mentioned summit and US data, as such the dollar-side of the equation may well dictate price action. Currently, EUR/USD is at highs of 1.1688 within Thursday’s 1.1632-1.1715 range.
- USD/JPY under pressure after strong Japanese GDP metrics, with JPY currently topping the G10 leaderboard. Thus far, USD/JPY has delved as low as 146.76 but is still north of the 200DMA @ 146.47 and yesterday’s low @ 146.21.
- As is the case with the EUR, newsflow for the UK is very light. Cable is firmer and above the 1.3550 mark but remains within yesterday’s 1.3520-95 range.
- AUD/USD has made its way back onto a 0.65 handle with a current session peak @ 0.6514 vs. yesterday’s best @ 0.6568. Interim resistance is provided by the 200DMA @ 0.6520. NZD/USD sits towards the bottom end of yesterday’s 0.5908-91 range.
- PBoC set USD/CNY mid-point at 7.1371 vs exp. 7.1852 (Prev. 7.1337).
- CBRT Survey: end-2025 CPI 29.69% (prev. 29.66%)
- Click for a detailed summary
- Click for NY OpEx Details
FIXED INCOME
- A contained start to the day for USTs, a session that is bookended by Import Prices/Retail Sales and the Alaska summit. Holding around the unchanged mark in narrow 111-24+ to 111-30+ parameters, matching the low from Thursday and holding just ahead of 111-23 and 111-19+ from Wednesday and Tuesday respectively.
- Similarly, Bunds held around 129.56 opening levels for the first part of the session. However, the benchmark has come under gradual but notable pressure throughout the morning. Down to a 129.19 low and softer by c. 30 ticks at most. No clear or specific catalysts behind the move; instead, it appears to be a function of the constructive European risk tone discussed in Equities.
- For Bunds, if the 129.19 base is taken out, we look to 129.06 from Wednesday and below that the figure and then the 128.98 WTD low Tuesday.
- No specific market-moving newsflow for the UK today, with Gilts conforming to the bearish-bias seen in EGBs though to a lesser extent thus far. Potentially a function of the relatively underperformance seen in the FTSE 100; but, magnitudes are minimal and it is probably not worth reading too much into the action at this point in the session.
- Click for a detailed summary
COMMODITIES
- Crude benchmarks are softer, despite the weaker USD and risk-on tone, as participants sites are firmly set on the summit between US President Trump and Russian President Putin later today; full primer available. In brief, the meeting has been repeatedly downplayed, Trump on Thursday sad there was a 25% chance the meeting is not a success and placed the emphasis on the importance of a 2nd meeting.
- Notably, Trump said a joint press conference is not something that has been discussed yet, a point that contrasts with the line from the WH Press Secretary and other reports heading into the summit.
- WTI currently resides in a 63.42-64.15/bbl range while Brent sits in a USD 66.36-67.06/bbl range, lower by around USD 0.50/bbl but around USD 0.25/bbl off worst levels.
- Spot gold is firmer, nursing some of the losses seen on Thursday amid USD strength and elevated yields post-PPI. XAU at the upper-end of a USD 3332-3348/oz band, within Thursday’s USD 3,329.85-3,374.80/oz range.
- Copper is rangebound but with a modest bullish bias, as the tailwinds from the risk tone have offset the disappointing Chinese data; retail sales (+3.7% Y/Y vs exp. 4.6%), factory output, and investment all slowing; factory and mining production rose 5.7% Y/Y (exp. 5.9%), the weakest since November, reflecting pressure from price war crackdowns and lingering Trump-era tariffs.
- Chile’s Codelco announced the smelter at the El Teniente copper mine has restarted.
- NHC says Erin is forecast to become a Hurricane today.
- Qatar lowers October term price for Al-Shaheen oil to USD 2.52/bbl above Dubai quotes, according to Reuters sources.
- Algeria is nearing a deal with Exxon (XOM) and Chevron (CVX) in a shale gas push, according to Bloomberg.
- LME publishes decision notice on market reports to boost liquidity; LME decided to implement, with some modification, all of the proposals set in the consultation on liquidity. Timeline for measures to come into force is February and March 2026.
- Click for a detailed summary
NOTABLE EUROPEAN HEADLINES
- CNB Minutes (Aug): Governor Michl emphasised the need to keep real rates positive, particularly in a situation of elevated general government deficits
NOTABLE US HEADLINES
- Fed Chair Powell is to speak 10:00EDT/15:00BST on August 22nd at Jackson Hole, according to the Fed schedule.
GEOPOLITICS
- US President Trump reiterated a second meeting with Putin and Zelensky will be more important and thinks they will make peace, while he added the Putin meeting is not a reward and they will get peace in the near future if it is a good meeting.
CRYPTO
- Bitcoin is in the green, at the upper-end of parameters for the day but currently just shy of the USD 120k mark.
APAC TRADE
- APAC stocks predominantly traded in the green after the region mostly shrugged off the indecisive performance seen on Wall St in the aftermath of the much hotter-than-expected PPI report, although the upside was capped overnight amid disappointing Chinese activity data and as participants await the Trump-Putin meeting on Friday.
- ASX 200 extended on record highs with the advances led by outperformance in mining, energy and the utilities sectors.
- Nikkei 225 rallied above the 43,000 level with sentiment lifted following stronger-than-expected Japanese GDP data.
- Hang Seng and Shanghai Comp were mixed with the Hong Kong benchmark dragged lower by losses in tech as JD.com’s shares were pressured following a drop in its earnings, while the mainland ultimately weathered the miss on Chinese activity data which showed retail sales fell short of the most pessimistic of analyst forecasts.
NOTABLE ASIA-PAC HEADLINES
- China’s stats bureau said China’s economy maintained a steady trend in July, despite external changes and extreme weather conditions, but added the external environment remains complex and severe. The stats bureau said China is to effectively unlock potential domestic demand and will keep employment, the market and expectations stable, as well as promote interplay between domestic and international economic flows. It also stated that high temperatures and floods in some regions created short-term hits on economic growth in July and the survey-based jobless rate rose in July due to factors including the college graduation season. Furthermore, it said efforts are needed to consolidate the foundation of economic recovery and that China’s exports face some pressure due to external uncertainties and some firms face more difficulties.
DATA RECAP
- Chinese Industrial Output YY (Jul) 5.7% vs. Exp. 5.9% (Prev. 6.8%)
- Chinese Retail Sales YY (Jul) 3.7% vs. Exp. 4.6% (Prev. 4.8%)
- Chinese Urban Investment (YTD)YY (Jul) 1.6% vs. Exp. 2.7% (Prev. 2.8%)
- Chinese Unemployment Rate Urban Area (Jul) 5.2% (Prev. 5.0%)
- Chinese China House Prices MM (Jul) -0.3% (Prev. -0.3%); YY (Jul) -2.8% (Prev. -3.2%)
- Japanese GDP QQ (Q2) 0.3% vs. Exp. 0.1% (Rev. 0.1%)
- Japanese GDP QQ Annualised (Q2) 1.0% vs. Exp. 0.4% (Prev. -0.2%, Rev. 0.6%)
2c) Asian opening report
Mostly firmer APAC trade into the Alaska summit – Newsquawk Europe Market Open
Friday, Aug 15, 2025 – 01:52 AM
- APAC stocks predominantly traded in the green after the region mostly shrugged off the indecisive performance seen on Wall St.
- US President Trump will participate in a bilateral program with the President of the Russian Federation in Alaska at 11:00 AM (15:00EDT/20:00BST) and will depart Alaska at 17:45 (21:45/02:45BST), according to the White House.
- Potential Fed Chair pick Zervos backed aggressive interest rate cuts, according to CNBC; Fed Chair Powell is to speak 10:00EDT/15:00BST on August 22nd at Jackson Hole, according to the Fed schedule.
- Nikkei 225 rallied above the 43,000 level and JPY was boosted with sentiment lifted following stronger-than-expected Japanese GDP data.
- European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.5% after the cash market closed with gains of 0.9% on Thursday.
- Looking ahead, highlights include German WPI (Jul), US Retail Sales (Jul), US University of Michigan Prelim (Aug), Import/Export Prices (Jul), Industrial Production (Jul), Atlanta Fed GDP, Trump-Putin summit & Joint Press Conference.
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US TRADE
EQUITIES
- US stocks were choppy and the major indices ultimately finished flat, although the Russell 2000 underperformed, with index futures initially pressured in the premarket as recent bets of a Fed September rate cut were slightly trimmed on inflationary fears following a hot US PPI report.
- However, stocks then staged a recovery during US trade, albeit in a choppy fashion, as participants turned their attention to the Trump-Putin meeting on Friday.
- SPX +0.01% at 6,467, NDX -0.07% at 23,832, DJI +0.01% at 44,927, RUT -1.35% at 2,297.
- Click here for a detailed summary.
TARIFFS/TRADE
- US President Trump said Brazil is one of the worst trade partners and imposes ‘tremendous tariffs’ on US goods.
- China is warning western companies against stockpiling rare earths or risk even greater shortages, according to FT.
NOTABLE HEADLINES
- Fed Chair Powell is to speak 10:00EDT/15:00BST on August 22nd at Jackson Hole, according to the Fed schedule.
- Fed’s Barkin (2027 voter) said business sentiment has picked up in some ways, but not yet on the hiring side, while credit card and other data are providing a sense that July consumer data may be stronger. Furthermore, Barkin said it is still early days for companies adapting supply chains to account for tariffs.
- Potential Fed Chair pick Zervos backed aggressive interest rate cuts, according to CNBC.
- US President Trump said inflation is down to a perfect number and there is hardly any inflation at all, while he added that 401(k)s and the stock market are soaring.
- Trump admin is said to discuss the US taking a stake in Intel (INTC) and is discussing with Intel a plan that would bolster Ohio expansion, according to Bloomberg.
APAC TRADE
EQUITIES
- APAC stocks predominantly traded in the green after the region mostly shrugged off the indecisive performance seen on Wall St in the aftermath of the much hotter-than-expected PPI report, although the upside was capped overnight amid disappointing Chinese activity data and as participants await the Trump-Putin meeting on Friday.
- ASX 200 extended on record highs with the advances led by outperformance in mining, energy and the utilities sectors.
- Nikkei 225 rallied above the 43,000 level with sentiment lifted following stronger-than-expected Japanese GDP data.
- Hang Seng and Shanghai Comp were mixed with the Hong Kong benchmark dragged lower by losses in tech as JD.com’s shares were pressured following a drop in its earnings, while the mainland ultimately weathered the miss on Chinese activity data which showed retail sales fell short of the most pessimistic of analyst forecasts.
- US equity futures were somewhat mixed overnight following the prior day’s indecisive performance but with Dow futures climbing on the back of a double-digit surge in UnitedHealth shares after-hours as 13F filings showed Berkshire Hathaway purchased over 5mln shares in the insurer during Q2.
- European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.5% after the cash market closed with gains of 0.9% on Thursday.
FX
- DXY marginally softened but remained above the 98.00 level after having recently climbed on the back of the hot PPI data, which exceeded all analyst expectations and saw a slight unwinding of Fed rate cut bets although money market pricing is still heavily leaning towards a 25bps rate cut in September, but it is no longer fully priced in.
- EUR/USD regained some composure after it recently gave way to the resurgence in the dollar with the single currency not helped by the mixed data releases from the EU.
- GBP/USD attempted to claw back some losses after retreating from resistance just shy of the 1.3600 level yesterday despite firmer-than-expected UK GDP data.
- USD/JPY pulled back overnight with the Japanese currency supported following stronger-than-expected Japanese GDP.
- Antipodeans languished around this week’s lows with price action constrained following disappointing Chinese activity data.
- PBoC set USD/CNY mid-point at 7.1371 vs exp. 7.1852 (Prev. 7.1337).
- Russian government abolished mandatory repatriation and sale of foreign currency proceeds by exporters, according to Interfax.
FIXED INCOME
- 10yr UST futures got some slight reprieve after yesterday’s data-triggered bear flattening that saw prices slump beneath the 112.00 level, while participants now await more US data releases, including Retail Sales, Industrial Production, Empire State Manufacturing, University of Michigan, Export & Import prices, as well as the US-Russia summit in Alaska.
- Bund futures attempted to pick themselves up from the prior day’s trough after falling back beneath the 130.00 level.
- 10yr JGB futures were lacklustre with demand hampered by stronger-than-expected GDP data and after a weaker-than-previous 10yr inflation-indexed JGB auction.
COMMODITIES
- Crude futures paused after recent advances heading into the Trump-Putin meeting and with the White House tempering expectations for any breakthrough at today’s talks.
- Russian Deputy PM Novak supported the energy ministry’s idea to extend the ban on gasoline exports through September.
- Spot gold nursed some losses after declining yesterday alongside a firmer dollar and higher yields due to the hot PPI data.
- Copper futures were rangebound as tailwinds from the mostly positive risk tone were offset by disappointing Chinese data.
- Chile’s Codelco announced the smelter at the El Teniente copper mine has restarted.
CRYPTO
- Bitcoin gradually rebounded from the prior day’s trough and returned to above the USD 119k level.
NOTABLE ASIA-PAC HEADLINES
- China’s stats bureau said China’s economy maintained a steady trend in July, despite external changes and extreme weather conditions, but added the external environment remains complex and severe. The stats bureau said China is to effectively unlock potential domestic demand and will keep employment, the market and expectations stable, as well as promote interplay between domestic and international economic flows. It also stated that high temperatures and floods in some regions created short-term hits on economic growth in July and the survey-based jobless rate rose in July due to factors including the college graduation season. Furthermore, it said efforts are needed to consolidate the foundation of economic recovery and that China’s exports face some pressure due to external uncertainties and some firms face more difficulties.
- Japan is to propose an Africa-Indian Ocean logistics network for trade and resources, according to Nikkei.
DATA RECAP
- Chinese Industrial Output YY (Jul) 5.7% vs. Exp. 5.9% (Prev. 6.8%)
- Chinese Retail Sales YY (Jul) 3.7% vs. Exp. 4.6% (Prev. 4.8%)
- Chinese Urban Investment (YTD)YY (Jul) 1.6% vs. Exp. 2.7% (Prev. 2.8%)
- Chinese Unemployment Rate Urban Area (Jul) 5.2% (Prev. 5.0%)
- Chinese China House Prices MM (Jul) -0.3% (Prev. -0.3%)
- Chinese China House Prices YY (Jul) -2.8% (Prev. -3.2%)
- Japanese GDP QQ (Q2) 0.3% vs. Exp. 0.1% (Rev. 0.1%)
- Japanese GDP QQ Annualised (Q2) 1.0% vs. Exp. 0.4% (Prev. -0.2%, Rev. 0.6%)
GEOPOLITICS
MIDDLE EAST
- Iran said it is working with Russia and China to stop European sanctions, according to journalist Elster.
RUSSIA-UKRAINE
- US President Trump reiterated a second meeting with Putin and Zelensky will be more important and thinks they will make peace, while he added the Putin meeting is not a reward and they will get peace in the near future if it is a good meeting.
- White House said US President Trump will participate in a bilateral program with the President of the Russian Federation in Alaska at 11:00 AM (15:00EDT/20:00BST) and will depart Alaska at 17:45 (21:45/02:45BST).
3A NORTH KOREA/SOUTH KOREA
SOUTH KOREA//NORTH KOREA/
3B JAPAN/
3C CHINA
CHINA
4. European affairs and NATO
UK
British People Have Had Enough…
Friday, Aug 15, 2025 – 03:30 AM
Authored by Steve Watson via Modernity.news,
In a striking display of public discontent, close to 750,000 people at time of writing have signed an official parliamentary petition demanding an immediate general election in the UK.
Titled “Call an immediate general election,” the petition argues that the public seeks urgent change from the current Labour government, which won power just over a year ago in July 2024.
Under UK rules, any petition surpassing 100,000 signatures triggers consideration for a parliamentary debate, a threshold this one has far exceeded—it has also prompted a government response, with a debate now pending.
The petition reflects mounting frustration with Prime Minister Keir Starmer’s leadership,
Public dissatisfaction with Starmer stems from a range of issues, including perceived broken promises, economic struggles, and controversial welfare reforms that have sparked backlash over cuts and austerity measures.
The economy is stagnant with no growth and rising costs.
The Conservative government laid the groundwork, but the Labour government has exacerbated the woes.
Another key flashpoint is mass migration. This week it was revealed that the UK has seen nearly 50,000 migrants cross the English Channel in small boats since Starmer became Prime Minister on July 5, 2024.
This figure, reached in just 401 days, marks a significantly faster rate of crossings compared to Starmer’s predecessors, with Rishi Sunak taking 603 days and Boris Johnson 1,066 days to hit the same threshold.
The numbers of crossings are up by almost 50 percent on last year.
The surge has fueled criticism of Labour’s immigration policies, particularly Starmer’s pledge to “smash the gangs” behind the crossings, which critics argue has failed to deter the unprecedented influx.
Opponents argue this has strained public services, housing, and infrastructure, fueling perceptions that Starmer has normalized high immigration levels without adequate controls.
https://modernity.news/2025/07/16/close-to-one-and-a-half-million-immigrants-are-receiving-government-welfare-in-the-uk/embed/#?secret=XUQ6bQV3KeAnother flashpoint is spiralling crime.
As a backdrop to this, freedom of speech is under attack, with many who have expressed their discontent finding themselves targets.
Draconian new laws, introduced on the prext of ‘protecting’ children, have immediately been used to stifle free expression.
Starmer’s personal popularity has plummeted to record lows, with his net approval rating dipping to -41% in recent surveys, while Labour’s government approval has sunk to -55%, the lowest ever recorded for the party.
Only 23% of Britons view him favourably, a sharp decline from post-election highs, amid accusations of losing authority and alienating voters. Dissatisfaction has reached 61%, his highest as Labour leader, painting a picture of a prime minister fading in public esteem.
Amid this turmoil, Nigel Farage’s Reform UK has exploded in popularity, often leading opinion polls and overtaking both Labour and the Conservatives in voting intentions.
Farage now boasts higher favourability than Starmer, capitalising on anti-immigration sentiments and promises of radical change.
In a desperate attempt to stave off complete annihilation, Starmer’s government recently announced it is going to lower the voting age to 16, effectively allowing children to vote.
If an election were held today, recent MRP projections suggest Reform could emerge as the largest party, potentially securing the most seats in a hung parliament or even nearing a majority, while Labour and the Tories face wipeout risks.
This surge underscores a seismic shift, with Reform poised to capitalise on voter anger over migration, economic woes, and establishment fatigue.
As the petition gains traction, it highlights a electorate hungry for upheaval.
* * *
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
END
ENOY THIS SONG ON THE INFILTRATION OF MIGRANTS INTO BRITAIN: CPIRTESY PF ROBERT H/
GERMANY
Germany’s Industrial Core Is Collapsing Under The US Trade Deal And The Green Agenda
by Tyler Durden
Friday, Aug 15, 2025 – 02:00 AM
Submitted by Thomas Kolbe
The asymmetrical trade agreement between the EU and the US will further worsen Germany’s recession. Yet neither politicians nor corporate leaders show any willingness to make the sweeping policy changes needed to reverse course.
Germany’s economic data leaves no room for illusions. After contracting by 0.9% in 2023 and another 0.5% last year, the decline will continue this year.
The Machine Room Has Been Blown Apart
It is precisely the sectors that have sustained German prosperity for decades—automobiles, construction, machinery—that are under the heaviest pressure. Without the artificial boost from state spending—now accounting for half of GDP—the private sector is set to shrink by 4–5% this year.
Since 2018, total productivity has been in steady decline. This is also a social problem: Germany is importing hundreds of thousands of welfare migrants into its social systems, yet the economy would have to boom just to keep per capita prosperity from falling.
A new survey by the German Chamber of Commerce and Industry (DIHK) confirms what was already obvious: the EU–US trade deal will especially hurt Germany’s export-oriented economy.
According to the survey, 58% of companies expect additional burdens, rising to 74% for firms with direct US business. Only 5% expect any benefit.
“This deal may have been politically necessary, but for many German companies it’s a bitter pill,” said DIHK CEO Helena Melnikov. “Higher tariffs, more bureaucracy, falling competitiveness”—that’s the price of the diplomatic truce between Washington and Brussels.
As of Thursday, a general 15% tariff applies to exports to the US, hitting automotive and machinery manufacturers hardest. 89% of US-oriented firms report immediate disadvantages, 72% fear further tariff hikes, 80% worry about political arbitrariness in transatlantic trade, and more than half plan to scale back US operations.
Business Was Already Weak
In its May survey of over 21,000 companies, only 23% reported positive business expectations—down five points—while 30% expected deterioration. In industry, one in three anticipates fewer orders.
Just 19% plan to increase investment, while about a third plan to cut back. High energy prices, labor shortages, and political uncertainty are seen as the main drags. The DIHK forecasts a 0.3% recession for 2025, but adjusting for state spending, the real decline is closer to 4–5%.
Daily surveys confirm the same message: Germany is being deindustrialized, losing hundreds of thousands of core-sector jobs. The social security deficits already emerging are just the beginning. Yet both politics and business refuse to conduct an honest diagnosis.
The Green Deal remains sacrosanct. Energy costs for German industry are up to three times higher than for US competitors, double that of French firms—pushing energy-intensive sectors out of the country.
Dancing Around the Golden Calf
Nobody dares openly challenge Brussels’ climate agenda. A rare exception came in June, when a group of works council representatives wrote an open letter to the Chancellor, naming the Green Deal as a root cause of decline.
But most CEOs dodge the question. Mercedes-Benz chief Ola Källenius cites “weak demand, high production costs, and US tariff uncertainty” for falling margins—but ignores the Green Deal’s role. VW CEO Oliver Blume calls for lower energy prices and tax incentives for EVs—essentially more subsidies to keep the transition alive.
Corporate leadership is now fused ideologically with the Green Deal. The energy transition has battered Germany’s industrial base: sectors like construction and automotive have been knocked completely off track.
A Split Economy
Events like the “Made for Germany” coffee chat between 61 CEOs and the Chancellor are symbolic of a corporatist mindset. Large corporations can adjust or relocate production to sidestep regulation, but small and medium-sized enterprises—the Mittelstand—are being crushed.
The Green Deal’s bureaucratic weight ultimately clears the field for big corporations by eliminating smaller competitors.
The Mittelstand has no political backing, and many are fighting daily for survival—often ending in bankruptcy. In H1 2025, insolvencies rose 9.4% year-on-year to 11,900 companies.
There is still no sign of a policy shift on climate. The German corporate elite has failed to seize the initiative to force political change. Germany is heading for a hot autumn—economically and socially.
* * *
About the author: Thomas Kolbe, a German graduate economist, has worked for over 25 years as a journalist and media producer for clients from various industries and business associations. As a publicist, he focuses on economic processes and observes geopolitical events from the perspective of the capital markets. His publications follow a philosophy that focuses on the individual and their right to self-determination.
END
GERMANY
Knife Crime In Germany Surges, With Foreigners Heavily Over-Represented In Latest Figures
Friday, Aug 15, 2025 – 06:30 AM
Authored by Thomas Brooke via Remix News,
The number of violent knife crimes in Germany has risen sharply once again, with newly released Federal Police figures confirming a worsening trend.
In the first half of 2025, 730 cases were recorded under Federal Police jurisdiction, a 17 percent increase compared to the same period last year.
The data, provided by the German government in response to a parliamentary query from Alternative for Germany (AfD) domestic affairs spokesman Martin Hess and obtained by Junge Freiheit, show a marked overrepresentation of foreign suspects.
Out of the recorded offenses, 278 involved German suspects and 270 involved non-Germans. While foreigners make up just under 15 percent of Germany’s population, they accounted for over 36 percent of knife crime suspects. Among them, Syrians formed the largest group with 29 cases, followed by Afghans with 23 and Poles with 20. Algerian and Afghan suspects were among the most likely to use a knife rather than merely carry one, with 83 percent of cases involving actual use.
The Federal Police recorded the majority of incidents at train stations, with 409 cases.
Hess said the figures were “largely a direct consequence of mass migration,” accusing left-wing parties of “denial of reality” and warning that public spaces must not become “places of fear.”
He criticized symbolic measures such as weapon-free zones and said that effective border controls and large-scale deportations had yet to be implemented.
Knife violence is not confined to Berlin, though the capital’s police force drew ridicule last year for website advice suggesting that victims sing loudly to deter attackers — a tip later removed after public backlash. In North Rhine-Westphalia, Germany’s most populous state, knife crime rose 20.7 percent in 2024, following a 44 percent jump the previous year. There, foreigners make up just 16.1 percent of the population but 47.6 percent of knife crime suspects.
In May, German criminal lawyer Udo Vetter warned that the country has “imported knife violence” following several high-profile incidents, including a Kosovar man injuring a 12-year-old girl and two others, a Syrian asylum seeker stabbing five people outside a student bar, and a rioter wounding a police officer. He pointed to cultural norms where knives are carried as status symbols.
Manuel Ostermann of the Federal Police Union also called for urgent action, warning that the knife “always immediately poses a concrete threat to life and limb” and that politicians must use all available measures to curb the trend.
5. RUSSIA AND MIDDLE EASTERN AFFAIRS
ISRAEL /GAZA/HEZBOLLAH/IRAN/SUMMARY OF THE LAST 24 HR
ISRAEL VS HAMAS
Palestinian Authority accuses Ben-Gvir of provocation after words of warning issued to Barghouti
Reports have indicated that Hamas demanded the release of Barghouti throughout ceasefire-hostage deal negotiations, hoping that such a move would reignite support for Hamas.
MARWAN BARGHOUTI is escorted in handcuffs by police into Jerusalem Magistrates Court in 2012.(photo credit: FLASH90)ByWALLA!, JERUSALEM POST STAFFAUGUST 14, 2025 23:42Updated: AUGUST 15, 2025 02:12
National Security Minister Itamar Ben-Gvir spoke with Marwan Barghouti in prison on Thursday and warned, “Whoever messes with Israel – we will wipe him out.”
“You will not defeat us, whoever messes with the people of Israel, whoever murders our children and women – we will wipe him out,” Ben-Gvir told him. “You need to know this, it’s been like this throughout history.”
The Palestinian Authority released a complaint following Ben-Gvir’s comments, claiming that his comments constituted as “state terrorism.”
“The Palestinian Authority’s Foreign Ministry condemns the raid by extremist Minister Itamar Ben Gvir on the cell of commander Marwan al-Barghouti, directly threatening him. This is an unprecedented provocation and organized state terrorism,” the statement read.
Barghouti, often referred to as the “Palestinian Mandela,” has long been considered a unifying figure among Palestinians, according to The Media Line.
Reports have indicated that Hamas demanded the release of Barghouti throughout ceasefire-hostage deal negotiations, hoping that such a move would reignite support for Hamas.
Who is Marwan Barghouti?
Barghouti was sentenced in 2004 to five life sentences for his role in orchestrating attacks that killed Israelis.
He helped establish Tanzim, the military faction of Fatah, in the 1980s.
This is a developing story.
END
Murdered Hamas hostage Itzik Elgert tortured to death, autopsy reveals
The autopsy revealed that Itzik’s body arrived with extensive trauma, including multiple broken ribs, a fractured nose, and damaged toes – injuries suggesting brutal and sustained physical abuse
(Illustrative) Danny Elgert holds a photo of his murdered brother Itzik during a Knesset session.(photo credit: SCREENSHOT/X, SECTION 27A COPYRIGHT ACT)ByJERUSALEM POST STAFFAUGUST 14, 2025 21:28Updated: AUGUST 14, 2025 22:34
Itzik Elgert, an Israeli hostage whose body was returned in February in the framework of a hostage deal with Hamas, was tortured to death during interrogation in captivity, his brother Danny Elgert revealed in a post on X/Twitter on Thursday.
“Today, after my brother’s autopsy, the facts are clear: Itzik did not die of a heart attack. He was tortured to death,” his brother wrote.
According to Danny, the autopsy found that Elgert’s injuries, including multiple broken ribs, a fractured nose, and broken toes, were sustained by brutal physical abuse.
“He was murdered with extreme cruelty,” Danny added.
Autopsy showed severity of trauma
Although the forensic institute was unable to declare Elgert’s precise cause of death legally, its findings concluded that the severity and nature of the fractures were consistent with the sort of trauma that causes death if inflicted on a living body.
Elgert’s brother slammed the government’s handling of the hostage situation, implicitly blaming Prime Minister Benjamin Netanyahu: “Cause of death – Mr. Neglect,” he wrote.
Roughly six weeks earlier, Danny had described the circumstances surrounding his brother’s disappearance. He said that Hamas interrogators believed Elgert was a pilot, in part due to an eagle tattoo on his arm, and took him away for questioning. He never returned.
“My brother was with hostage Edan Alexander. The terrorists suspected that he was a pilot because of his tattoo. They then took him away, and he never came back,” Danny recalled. “Idan asked where he was, and they told him: ‘He’s gone.’”
“Itzik is dead, murdered, because they thought he was a pilot,” Elgert’s brother said.
Elgert was kidnapped during Hamas’s October 7 massacre. His body was returned to Israel during the final phase of the first stage of the hostage deal earlier this year.
He was buried near his home in Kibbutz Nir Oz. Hundreds gathered for the funeral to pay their last respects.
END
Mossad chief conducting extensive hostage talks in Doha despite previous reports – exclusive
In recent days, Qatar and Egypt have been working on a framework for a deal that would include the release of all hostages and an end to the war.
Mossad director David Barnea seen over a wall of hostage posters in Tel Aviv (illustrative)(photo credit: FLASH90)ByAMICHAI STEINAUGUST 14, 2025 21:42Updated: AUGUST 14, 2025 21:53
The issue of hostage deal negotiations was discussed extensively during a meeting between Mossad director David Barnea and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani in Doha, Qatar, on Thursday, an Israeli official told The Jerusalem Post.
This follows a briefing earlier on Thursday, during which a senior Israeli official told reporters that “The Mossad chief conveyed the message that a partial deal is off the table and, beyond that, did not engage in negotiations but in Mossad-related matters.”
In recent days, Qatar and Egypt have been working on a framework for a deal that would include the release of all hostages and an end to the war. However, there is still the possibility of a partial agreement involving the release of 10 hostages in exchange for a two-month ceasefire.
Also present in Doha at the same time as Mossad chief Barnea was Turkish Foreign Minister Hakan Fidan. The Al-Hadath channel reported that the Turkish foreign minister was participating in talks with the Mossad chief in Doha.
Several senior Hamas officials are currently based in Turkey. Meanwhile, in Egypt, talks continued on Thursday between senior Hamas figures and top Egyptian officials.
Five principles to end the war
On Thursday, Prime Minister Benjamin Netanyahu issued a statement outlining Israel’s principles for ending the war: dismantling Hamas’s military capabilities; returning all hostages, both living and deceased; demilitarizing the Gaza Strip; not only disarming Hamas but also ensuring that no weapons are manufactured in or smuggled into the territory; maintaining Israeli security control in Gaza, including the security perimeter; and establishing an alternative civilian administration that is neither Hamas nor the Palestinian Authority.
“These must be people who will not indoctrinate their children with terror, will not fund terror, and will not send terrorists,” Netanyahu said.
“These five principles will ensure Israel’s security. That is the meaning of the word ‘victory.’ This is what we are working toward – and everyone should internalize it.”
Finance Minister Bezalel Smotrich, who in recent days has been urging Netanyahu to commit to continuing the campaign even if a partial deal is reached, responded: “Mr. Prime Minister, these are correct and just principles. But you are missing one important – perhaps the most important – point: No pauses until victory!”
At the same time, initial talks have begun regarding the possibility of a visit to Israel next month by US President Donald Trump. A source familiar with the matter told the Post that, at this stage, there were “speculations and preliminary probes” for such a visit, potentially in mid-September, before Trump’s planned state visit to the United Kingdom.
“It’s not certain the visit will happen, and everything is in a very initial stage,” the source added.
END
ISRAEL GERMANY
who are they to tell the Israeli government to stop West Bank Settlement; they all should live in peace
there should be no enemies lying within anybody’s borders
(JerusalemPost)
Germany tells Israeli government to stop West Bank settlement construction
This comes after Smotrich announced his approval for settlements in the E1 area.
An Israeli flag flutters, as part of the Israeli settlement of Maale Adumim is visible in the background, in the West Bank, August 14, 2025.(photo credit: REUTERS/Ronen Zvulun)ByREUTERSAUGUST 15, 2025 13:32Updated: AUGUST 15, 2025 13:45
Germany on Friday called on the Israeli government to stop settlement construction in the West Bank after Israel’s far-right finance minister said work would start on a plan for thousands of home that would divide the Palestinian territory.
Germany “firmly rejects the Israeli government’s announcements regarding the approval of thousands of new housing units in Israeli settlements in the West Bank,” said a foreign ministry spokesperson in a statement.
Plans for the “E1” settlement and the expansion of Ma’aleh Adumim would further restrict the mobility of the Palestinian population in the West Bank by splitting it in half and cutting the area off from east Jerusalem, said the spokesperson.
Finance Minister Bezalel Smotrich announced on Thursday that work would start on the long-delayed settlement, a move that his office said would “bury” the idea of a Palestinian state.
In a statement, Smotrich’s spokesperson said the minister had approved the plan to build 3,401 houses between an existing settlement in the West Bank and Jerusalem.
Germany tells Israel to stop building of E1 settlement
Germany has repeatedly warned the Israeli government to stop settlement construction in the West Bank, which violates international law and UN Security Council resolutions.
Such moves complicate steps towards a negotiated two-state solution, said the spokesperson.
END
ISRAEL SUDAN
Israel in talks with South Sudan about Gazan resettlement plans – report
The deal between South Sudan and Israel could help the two countries build closer ties, the report added.
Palestinians wait to receive food from a charity kitchen in Gaza City earlier this month. This photo may have been staged.(photo credit: REUTERS/Mahmoud Issa)ByJERUSALEM POST STAFFAUGUST 12, 2025 22:15Updated: AUGUST 13, 2025 21:53
Israel is in talks with South Sudan about the possibility of resettling Palestinians from the Gaza Strip to the East African country, six people familiar with the discussions confirmed to the Associated Press in a report on Tuesday night.
The deal between South Sudan and Israel could help the two countries build closer ties, the report added.
South Sudanese officials briefed Joe Szlavik on the talks, who is a founder of a US lobbying firm that works with the African nation, and he then added that an Israeli delegation plans on visiting the country for the possibility of setting up camps for Palestinians who wish to evacuate to the country.
Edmond Yakani, who leads a civil society organization in the country, says he has spoken with South Sudanese officials about the talks.
South Sudan’s FM visits Israel
Last week, South Sudan’s foreign minister, Monday Semaya Kumba, visited Israel and the West Bank.
The visit was organized at the initiative of Foreign Minister Gidon Sa’ar, with participation from Foreign Ministry Director-General Tzachi Dickstein and Deputy Minister Sharren Haskel.
The special ties between Israel and South Sudan began even before the country’s independence declaration in 2011.
Israel played a significant role in supporting South Sudan in its struggle for independence. It was one of the first countries in the world to recognize it as a sovereign state, leading to close bilateral relations.
This is a developing story.
END
ISRAEL VS HOUTHIS
Houthis Launch Another Failed Attack On Israel’s Ben Gurion Airport
Friday, Aug 15, 2025 – 04:15 AM
Yemen’s Houthis are not letting up on their attacks on Israel or Israeli-linked shipping in the Red Sea, on Thursday once again launching a ballistic missile targeting Ben Gurion airport international airport in Tel Aviv.
The Shia militant group’s spokesman said it launched a “Palestine 2 hypersonic ballistic missile” targeting the country’s lone major international hub, the group’s military spokesman Yahya Saree described.
The Houthis say they are continuing to act in support of the Palestinians, despite having paused their attacks during a two-month Gaza ceasefire that ended in March. As the Gaza war resumed, so did Houthi acts of aggression.
“A missile launched from Yemen was intercepted by the” air force, Israel’s army said on Telegram, and there have been no reports of casualties.
According to Times of Israel citing military officials, Houthi drones also targeted the south connected with the same new attack wave:
In a statement Tuesday, the Iran-backed group claimed to have launched six drones at Israel, targeting “vital targets” in Haifa, the Negev Desert, Eilat and Beersheba.
“The operations successfully achieved their objectives, thanks to Allah,” the Houthis claimed.
The IDF reported shooting down one drone off the coast of Eilat, which did not set off sirens in Israel’s southernmost city because it posed no threat. The other five drones likely fell short before reaching the country’s borders, as many Houthi projectiles have previously.
The first inbound missiles had been detected shortly after 4am local time, setting off air sirens in various parts of Israel.
Some local reports say that residents of central Israel on Thursday discovered fragments of an interceptor on or near train tracks between Ganot and Hahagana – which resulted in the railway being temporarily shut down.
Israel’s military launched major attacks on Yemen’s Hodeidah port several weeks ago, but this and prior waves of major strikes have done little or nothing to deter Houthi resolve to inflict punishment on Israel for its military operations in Gaza, which as resulted in an immense civilian death toll.
At this point over 60,000 Palestinians have been reported killed in the Gaza War, but the enclave’s health authorities do no distinguished between armed militants and civilians in their casualty count.
RUSSIA VS UKRAINE
Desperate Ukraine Mounts Large Drone Attacks Hours Ahead Of Putin-Trump Talks
Friday, Aug 15, 2025 – 08:45 AM
Ukraine has been trying to inflict major blows on Russia in overnight and early morning cross-border attacks, including carrying out a strike on the Olya seaport in Russia’s Astrakhan region, targeting a vessel reportedly transporting Shahed drone parts and Iranian-supplied ammunition.
Ukraine’s General Staff described Friday that its operation involved Ukraine’s Special Operations Forces (SSO) seeking to weaken Russia’s ability to conduct airstrikes utilizing the Iranian-designed suicide drones which have long wreaked havoc on Ukrainian cities.
Olya has become viewed as a critical logistical hub for receiving military equipment from Iran. The vessel identified as the Port Olya 4 was said to be carrying unmanned aerial vehicle components and munitions at the time of the attack.
The early hours of Friday also saw a wave of Ukrainian drones targeted an oil refinery in Syzran, located in Russia’s Samara region.
This flurry of drone activity seeking to take out sensitive Russian targets happened just hours before much anticipated talks between Presidents Trump and Putin are to get underway, and appears a last-ditch effort for the Ukrainian side to establish some badly needed leverage, even as Russia has made big, rapid gains on the ground on the Donbass region.
Yesterday, analysis by the Institute for the Study of War (ISW) made clear that “The Russian army took or claimed 110 square kilometers (42.5 square miles) on August 12 compared to the previous day,” and that “It was the biggest advance since late May 2024.”
So the Ukrainians are trying to provide a quick ‘answer’ for these ground losses for all the world to see just head of the Alaska summit. President Zelensky has repeatedly claimed this week that Putin is not actually interested in peace and that he’s “bluffing”.
Meanwhile, the Russian Ministry of Defense has detailed additional overnight inbound drone intercepts from Ukraine, as follows on Telegram:
- 13 over the Kursk region
- 11 over the Rostov region
- 7 over the Samara region
- 6 over the Belgorod region
- 5 over the Oryol region
- 4 each over the Bryansk and Voronezh regions
- 1 each over the Saratov region, Kalmykia, and the Sea of Azov.
Further, a string of significant oil and gas sites were struck by Ukrainian forces over the last week. Ukraine’s military says these are ‘military targets’ – as Russia’s energy sector props up Putin’s military machine. On Thursday, Ukrainian drones successfully struck an oil refinery in Russia’s Volgograd region, sparking a huge fire.
Rubio and the CIA chief will be in Alaska, with fresh CNN report saying Hegseth will travel to Alaska separately from Trump:
On Thursday, prior attacks on southern Russia resulted in a number of casualties:
Ukraine launched drone attacks on cities in southern Russia, killing one person and injuring at least 16 more — just a day before President Trump meets with Russian President Vladimir Putin in Alaska.
A Ukrainian drone hit an apartment building in Rostov-on-Don, injuring 13 people who were transferred to medical facilities for treatment, according to the region’s Gov. Yury Slyusar.
In another attack, Ukraine’s drone strike in Belgorod injured three people, according to local officials. Vyacheslav Gladkov, the governor of the region, posted a video appearing to show the drone striking a car in the city, located about 24 miles north of the Ukraine border.
As for Alaska, the summit is expected to commence at 11am local time, which is 3pm eastern US. President Trump on Friday stated simply on Truth social the words HIGH STAKES!!! The Russian delegation has already arrived, with Foreign Minister Sergei Lavrov telling reporters, “What we do know is that we have clear arguments to contribute to the discussion, and our position is well defined. We will present it accordingly.”
And White House press secretary Karoline Leavitt has presented Trump’s general stance by saying “The president wants to exhaust all options to try to bring this war to a peaceful resolution.”
ROBERT H:
Putin-Trump Summit to Take Place at Alaska’s Elmendorf-Richardson Base
For those who think or imagine that this all about Ukraine should note the Russian participants.
Ukraine is a minor factor that has little relevance to the overall discussion and items on the table. Forget the notion of more sanctions or some other hype from America. As for now Russia has been holding back in its war activities in Ukraine. Weapon tests like mini Oreshnik or a new missile that exceeds Mach 20 by a bunch are all ready. Even the nuclear cruise missile may be tested shortly. That missile can cruise around unstoppable for an extended time with no place on the planet that it cannot reach at will. The fastest missile is at Mach 27. How can one imagine that you stop this?
For a long time now, Russia managed to reverse engineer certain ALIEN technology now employable by them. And perhaps even improved upon. It is one reason why Russia developed PHOTONIC chips used in the newest missiles. Even the metallurgy used in these missiles is mind boggling. We were never alone. The question is whether Russia will use this technology for the good of all or as needed defense for itself? Fools often ignore realities and threats that they cannot overcome. It is a time for mankind to resolve differences amongst men that may well be petty compared to real threats that mankind faces.
Perhaps there are unknown reasons why Russia possesses hypersonic jets that employ laser systems to react to threats in space in earth orbit. Are you aware that these jets and lasers have been tested and remain classified without western media hype. Apart from being ability to destroy western satellites. Have you ever wondered why Russian satellites are deployed well above US ones? Those satellites can see as well or better than the US ones.
Russia has these deployed to protect itself and not extensively elsewhere. Russians do not have access to the printing machine the WEST does. Having magic computers sending money or trillions in off balance print may be the single best thing that the Federal Reserve has accomplished. But then again, why would Russia be the brother’s Keeper when the brother is trying to destroy it? Think about this. Because the scope of minor league thinking that results in the likes of Zelensky, his backers and the actual conflict is just that compared to other issues not discussed in an open forum. Issues that offer mankind real opportunities not being pursued.
Maybe just maybe such a discussion begins on Friday which will help right a sinking ship.
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUES
(2) Doctor Who Cured 92% Of Cancer Patients Says Biopsies Are SPREADING CanceR
What if he is correct ?
MARK CRISPIN MILLER
DR PAUL ALEXANDER
NEWS ADDICTS
NEWSWIZE
EVOL NEWS
MICHAEL EVERY/OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS
7. OIL ISSUES/NATURAL GAS/ENERGY ISSUES/GLOBAL
Wind Giant Orsted Suffers Worst Week On Record As Green Energy Demise Accelerates
Friday, Aug 15, 2025 – 07:45 AM
Wind company Orsted A/S was once the poster child of the green energy movement, debuting on European stock exchanges nine years ago. Now, with the green energy industry in shambles as common-sense energy policies return under the Trump administration, Orsted has suffered its worst weekly decline ever, trading far below its IPO price.
At the beginning of the week, Orsted announced a rights offering of up to 60 billion kroner ($9.4 billion), sending shares crashing and leaving them down about 33% by week’s end.
Shares have fallen below their 2016 IPO price.
Wall Street analysts are 71.9% “Hold,” 15.6% “Sell,” and 12.5% “Buy”…
With wind farm construction as its core business, Orsted has been exposed to more canceled projects than any of its industry peers, including ones in the US and the UK. The funding gap swelled after scrapping a stake sale in the Sunrise Wind project off New York.
Goldman analysts led by Alberto Gandolfi called the rights offering “largely unexpected, with clarity expected by mid-September… but also a clean-up move.”
Compounding problems for Orsted, S&P Global Ratings downgraded the company’s long-term credit rating to BBB-, just one notch below junk status. The rating agency cited Orsted’s inability to carry out project refinancing and divest 50% of its Sunrise project.
At Orsted’s market capitalization peak, it was once worth more than BP and flagged a ‘green’ success by Wall Street, politicians, and leftist climate nonprofits.
Orsted’s collapse in market value, credit downgrade, and capital raise mirrors the implosion of the entire green industry. We suspect that Solyndra-type failures could be on the horizon. Keep in mind, one of the Democratic Party’s pillars is all things green.
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES
INDIA//RUSSIA
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS FRIDAY MORNING 6;30AM//OPENING AND CLOSING
EURO/USA: 1.1681 UP 0.0030 PTS OR 30 BASIS POINTS
USA/ YEN 146.85 DOWN 0.834 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 1.3547 UP .0017 OR 17 BASIS PTS
USA/CAN DOLLAR: 1.3797 DOWN 0.0016 (CDN DOLLAR UP 16 BASIS PTS)
Last night Shanghai COMPOSITE UP 30.33 PTS OR 0.83%
Hang Seng CLOSED DOWN 249.25 PTS OR 0.98%
AUSTRALIA CLOSED UP 0.69%
// EUROPEAN BOURSE: MOSTLY ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: MOSTLY ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 94.35 PTS OR 0.37%
/SHANGHAI CLOSED UP 30.33 PTS OR 0.83%
AUSTRALIA BOURSE CLOSED UP 0.69 %
(Nikkei (Japan) CLOSED UP 729.05 PTS OR 1.71%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 3341.40
silver:$37.93
USA dollar index early FRIDAY morning: 97.75 DOWN 25 BASIS POINTS FROM THURSDAY’s CLOSE
FRIDAY MORNING NUMBERS ENDS
And now your closing FRIDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.176% UP 7 in basis point(s) yield
JAPANESE BOND YIELD: +1.582% UP 2 FULL POINTS AND 00/100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.334 UP 8 in basis points yield
ITALIAN 10 YR BOND YIELD 3.598 UP 8 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.7727 UP 7 BASIS PTS
IMPORTANT CURRENCY CLOSES : MID DAY FRIDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.1713 UP 0.0062 OR 62 basis points
USA/Japan: 146.88 DOWN 0.803 OR YEN IS UP 80 BASIS PTS//
Great Britain 10 YR RATE 4.6930 UP 5 BASIS POINTS //
Canadian dollar UP .0021 OR 21 BASIS pts to 1.3791
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The USA/Yuan CNY DOWN AT 7.1827 CNY ON SHORE ..
THE USA/YUAN OFFSHORE DOWN TO 7.1861
TURKISH LIRA: 40.90 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +1.585
Your closing 10 yr US bond yield UP 1 in basis points from THURSDAY at 4.303% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.902 UP 2 in basis points /11:00 AM
USA 2 YR BOND YIELD: 3.740 UP 0 BASIS PTS.
GOLD AT 11;00 AM 3342.00
SILVER AT 11;00: 37.90
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: FRIDAY CLOSING TIME 11:00 AM//
London: CLOSED DOWN 38.34 PTS OR 0.43%
GERMAN DAX: DOWN 18.20 pts or 0.07%
FRANCE: CLOSED UP 53.11 pts or 0.67%
Spain IBEX CLOSED UP 70.80 pts or 0.47%
Italian MIB: CLOSED UP 467.60 or 1.11%
WTI Oil price 63.21 11.00 EST/
Brent Oil: 66.23 11:00 EST
USA /RUSSIAN ROUBLE /// AT: 80.43 ROUBLE DOWN 0 AND 68/ 100
CDN 10 YEAR RATE: 3.455 UP 4 BASIS PTS.
CDN 5 YEAR RATE: 2.966 UP 2 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1702 UP 0.0002 OR 2 BASIS POINTS//
British Pound: 1.3552 UP .0023 OR 23 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.694 UP 8 FULL BASIS PTS//
JAPAN 10 YR YIELD: 1.572 UP 6 FULL BASIS PT
USA dollar vs Japanese Yen: 147.22 DOWN 0.459 BASIS PTS
USA dollar vs Canadian dollar: 1.3810 UP 0.0002 BASIS PTS// CDN DOLLAR DOWN 2 BASIS PTS
West Texas intermediate oil: 63.04
Brent OIL: 66.03
USA 10 yr bond yield UP 8 BASIS pts to 4.325
USA 30 yr bond yield UP 10 PTS to 4.924%
USA 2 YR BOND: UP 7 PTS AT 3.759%
CDN 10 YR RATE 3.469 UP 7 BASIS PTS
CDN 5 YEAR RATE: 2.985 UP 5 BASIS PTS
USA dollar index: 97.71 DOWN 39 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 40.87 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 80.43 DOWN 0 AND 68/100 roubles //
GOLD $3337.40 (3:30 PM)
SILVER: 37.97 (3:30 PM)
DOW JONES INDUSTRIAL AVERAGE: UP 34.86 OR .05%
NASDAQ 100 DOWN 118.42 PTS OR 0.50%
VOLATILITY INDEX: 14.97 UP 0.12 PTS OR 0.81%
GLD: $ 307.43 UP .18 PTS OR 0.06%
SLV/ $34.50 DOWN 0.00 PTS OR OR 0000%
TORONTO STOCK INDEX// TSX INDEX: CLOSED DOWN 56.25 PTS OR 0.20%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING
Macro-Mania Sparks Momo Massacre, Meme Meltup, Bonds & Bullion Breakdown
Friday, Aug 15, 2025 – 08:00 PM
A maniacal week of mixed macro – hot inflation (CPI mixed, PPI hot), weak sentiment (Umich, Small Biz), solid retail sales (including revisions), upbeat industrial production (YoY), and strong jobs data (claims) – combined with the biggest August OpEx ever, sparked some chaos across markets amid low liquidity summer markets…
Source: Bloomberg
…with the surge in PPI (and mixed CPI) by far the most noteworthy jump in the macro data…
Source: Bloomberg
Prompting a drop in rate-cut odds (50bps off the table for Sept but 25bps almost fully priced in)…
Source: Bloomberg
…and rate-cut expectations down on the week…
Source: Bloomberg
With all that in mind, and Jackson Hole next week, we note that US Financial Conditions are basically at their loosest in the post-COVID era…
Source: Bloomberg
The result of all that was stocks higher (new record highs), bond yields higher, the dollar down modestly, gold ugly, oil flat-ish, and crypto down a bit (after hitting record highs)
Small Caps dominated the price action in stocks this week with The Dow bid today (thanks to Buffett’s share of UNH) and Nasdaq lagging on the week…
This was Nasdaq’s worst week relative to Small Caps since April…
Source: Bloomberg
Meme stocks kept melting up…
Source: Bloomberg
…but the momo meltdown continued (worst week since March)…
Source: Bloomberg
Momo funds were double-buggered this week as shorts accelerated and longs were dumped…
Source: Bloomberg
Another big short-squeeze week – the 11th week higher for ‘most shorted’ stocks in the last 12 weeks – erasing most of the losses from the big down week into payrolls…
Source: Bloomberg
VIX continued to compress this week (hitting a 14 handle) even as realized vol rises…
Source: Bloomberg
Treasury yields have soared the last two days pushing all but the short-end higher on the week with the long-end notably underperforming…
Source: Bloomberg
Notably amid all the rancor about inflation, breakevens have behaved very calmly for years (unlike Democratic respondents to UMich surveys)…
Source: Bloomberg
Globally, bond yields were higher this week, decoupling further from global macro weakness (for now)…
Source: Bloomberg
The dollar ended the week modestly lower
Source: Bloomberg
Gold tumbled this week, its worst week since June…
Source: Bloomberg
Oil was down for the second week in a row, closing near 3-month lows…
Source: Bloomberg
Bitcoin ended the week very marginally lower, having plunged after surging up to record highs mid-week…
Source: Bloomberg
Ethereum also sold off the last two days (after hitting record highs) but managed sizable gains relative to bitcoin for the second week in a row…
Source: Bloomberg
Finally, the S&P vol market shows which days matter over the next month with Powell’s speech at Jackson Hole the next news risk catalyst…
Source: Goldman Sachs
As Goldman’s Lee Coppersmith pointed out: “it may be the dog days of summer, but you need to stay on your toes.”
USA DATA RELEASES
US Industrial Production Rises At Strongest Annual Rate Since Jan 2023
Friday, Aug 15, 2025 – 09:25 AM
US Industrial Production dipped 0.1% MoM in July, but thanks to an upwardly revised 0.4% MoM rise in June, the YoY rise in Industrial Production was +1.43% – the biggest YoY jump since Jan 2023…
Source: Bloomberg
Drilling down, we see Manufacturing was -0.1% MoM in July (slightly weaker than the 0.0% exp), but again thanks to the upward revisions, YoY Manufacturing rose 1.4% – the most since Oct 2022…
Source: Bloomberg
Finally, Capacity Utilization dipped back down in July, back tow its overall trend of the last 3 years
Source: Bloomberg
Given the string annual pace of growth in manufacturing and production, it seems the tariff terror hasn’t struck quite yet…
end
‘Real’ Retail Sales Rise For 10th Straight Month In July
Friday, Aug 15, 2025 – 08:42 AM
‘Brace yourself for a big beat’ is the message from BofA’s almost omniscient analysts ahead of this morning’s retail sales print for July…
But, for once, the BofA team were not spot n as headline retail sales rose 0.5% MoM (slightly less than the 0.6% exp), but, perhaps some credence remains for BofA’s team as June’s 0.6% rise was revised up to a 0.9% MoM jump. This is the second bigly month of retail sales gains with sale sup 3.9% YoY…
Source: Bloomberg
Core retail sales, ex Autos and Gas, rose jst 0.2% MoM (buit also followed a large upward revision) with the Control Group Sales (which slides into the GDP calculation) rising 0.5% (better than the expected 0.4%) and also seeing June revised up significantly. This leaves YoY sales up 4.8%…
Source: Bloomberg
Motor Vehicles and Parts Dealers saw sales rise most MoM…
On a YoY basis, the control group ticked up while headline slowed…
Source: Bloomberg
Under the hood, miscellaneous store retailers and food service and drinking places all saw sales decline…
Finally, as a reminder, retail sales data is nominal, so roughly adjusting for CPI, we see ‘real retail sales’ rose 1.2% YoY – the 10th month in a row of rising real sales…
So, despite all the wailing and gnashing of teeth on soft survey data about the consumer, they still appear to be buy-buy-buying.
END
WTF Is UMich Doing With Its Inflation Expectations Data?
Friday, Aug 15, 2025 – 10:14 AM
US consumer sentiment tumbled from five month highs in preliminary August data, down (for the first time in four months) from 61.7 to 58.6 (62.0 exp) with both Current Conditions and Expectations declining…
Source: Bloomberg
“This deterioration largely stems from rising worries about inflation,” according to UMich Director Joanne Hsu.
“Current personal finances declined modestly amid growing concerns about purchasing power. In contrast, expected personal finances inched up a touch along with a slight firming in income expectations, which remain subdued. “
Both Democrats and Republican saw optimism slide (with Independents rising) but the spread between Dems and Reps now at a record high…
Source: Bloomberg
After plunging back to reality for two months, inflation expectations surged back higher in August with year-ahead inflation expectations rose from 4.5% last month to 4.9% this month and long-run inflation expectations also lifted from 3.4% in July to 3.9%…
Source: Bloomberg
We have no idea what the fuck is going on with this elevated inflation expectation all three political cohorts saw one-year inflation expectations decline…
UMich taking a flamethrower to what little was left of its credibility – it’s not just 1Yr inflation expectations: Republican, Democrat 5Yr inflation expectations slumped, but the “median” magically soared
So where did the expectation increase come from? Non-voters? Illegals?
This might help explain things.
Of course, we understand that this is preliminary August data point (not final) but still, the number of respondents fell to a record low for this data…
Can Trump fire the head of UMich’s survey creator too?
USA ECONOMIC NEWS
Intel Soars On Report US Government To Buy Stake In Chip Giant
Thursday, Aug 14, 2025 – 04:01 PM
One week ago, in the immediate aftermath of the Trump vs Intel snafu (which lasted just a few days, until Lip-Bu Tan showed up at the White House and became BFFs with Trump), we said that it is likely that the US government would take a stake in Intel, the same way it the Defense Department did with MP Minerals (a move which we also correctly predicted), becoming the largest shareholder in the rare earth minerals company.
We were right.
According to Bloomberg, the Trump administration is in talks with Intel Corp. to have the US government potentially take a stake in the beleaguered chipmaker, helping support the company’s effort to expand domestic manufacturing, according to people familiar with the plan who may have been keeping a close eye on our X account in recent days.
The deal would help shore up Intel’s planned factory hub in Ohio. The company had once promised to turn that site into the world’s largest chipmaking facility, though it’s been repeatedly delayed. The size of the potential stake isn’t clear.
The plans reportedly were prompted from a meeting this week between President Donald Trump and Intel CEO Lip-Bu Tan. The idea is for the US government to pay for the stake and details are being sorted out, one of the people said. Another cautioned that the plans remain fluid.
Needless to say, news of the proposed minority investment sent Intel shares soaring, erasing all of the company’s post-earnings losses.
In response to a Bloomberg request for comments, Intel said that “we look forward to continuing our work with the Trump administration to advance these shared priorities, but we are not going to comment on rumors or speculation.”
Any such (much needed) agreement would bolster Intel’s finances at a time when the company has been slashing spending and cutting jobs. It also suggests that Tan will remain at Intel’s helm. Trump had called for his ouster before the meeting over concerns about Tan’s ties to China.
It’s the latest direct intervention by Trump into a key industry. Earlier this week, the Trump admin reached an agreement to receive a 15% cut of certain semiconductor sales to China and took a so-called golden share in United States Steel Corp. as part of a deal to clear its sale to Japan’s Nippon Steel.
More importantly, and just as we said it would, Bloomberg writes that “the Intel idea also echoes the Defense Department’s unprecedented announcement last month that it will take a $400 million preferred equity stake in the little-known US rare-earth producer MP Materials Corp. — a deal that would make the Pentagon the company’s largest shareholder. That move turned conventional wisdom on its head among investors, analysts, industry executives and even longtime government officials in terms of how private industry has dealt with the government.“
Not too long ago, Intel was the undisputed world chip industry leader, but it has struggled in recent years, hurt by the loss of market share and its technological edge. Tan’s predecessor, Pat Gelsinger, touted the Ohio factory expansion as part of a comeback plan. But Intel’s financial woes have imperiled the project. Earlier this year, the build-out was delayed until the 2030s, and the company said in July that it would further slow the Ohio plan. Since taking over in March, Tan has focused more on getting Intel’s financial house in order.
END
Mamdani’s Biggest Threat To Democrats
Thursday, Aug 14, 2025 – 08:55 PM
Authored by J.T. Young via RealClearPolitics,
For the last 10 years, it’s been difficult for Democrats to win elections unless the campaigns center on Donald Trump. But the arrival of Zohran Mamdani on the national stage risks carrying the Democratic Party far off message – and derailing its strategy for 2026 and beyond.
With his upset win in the Democratic primary, Democratic-Socialist Mamdani has the inside track in New York City’s mayoral race. New York already has a host of problems: crime, illegal immigration, high spending, high taxes, and a declining population and dwindling tax base. Mamdani’s radical policy proposals only threaten to add to these woes.
Free bus service, government-run grocery stores, and government-built housing all promise to increase New York City’s already high spending. Mamdani’s commitment to increase taxes on higher income and whiter neighborhoods will increase New York City’s already high taxes. Together, the two will squeeze the city’s economy, pushing out more of the city’s population and further eroding its tax base. Mamdani’s earlier support for defunding the police and not cooperating with ICE will hike crime and illegal immigration.
In sum, Mamdani threatens to accelerate the negative economic and societal spiral New York City has been experiencing for some time. It is the last thing New Yorkers need.
Accentuating America’s perception of Democrat excesses in the nation’s biggest city is also the last thing Democrats need. How big a problem is this for Democrats? Such topics were among President Biden’s worst polling performances: According to Real Clear Politics’ final average of Biden’s job approval polling, Americans gave him just a 38.8% approval on his handling of the economy, 38% on crime, and 33.5% on immigration.
What’s more, Mamdani, and other big-city mayors and mayoral candidates espousing radical policies, could eclipse the Democrats’ national campaign strategy of running against Trump as well.
Over the last decade, Democrats’ only national election successes have come when Trump is the election’s focus. In 2018, with Trump in office, they won control of the House of Representatives. In 2020 with Trump as the incumbent, Democrats won the presidency and the Senate.
Conversely in 2016, Democrats could not escape Hillary Clinton being their standard-bearer. As a result, they lost the White House in a profound political upset. In 2022, with Joe Biden in office, Democrats lost the House. In 2024, Biden and Harris were both incumbents; with reelections being referendums on incumbents, the focus was again on Democrats, and they lost the presidency.
Having learned these lessons, Democrats aim to make Trump the focus in 2026 and 2028 – even without Trump on the ballot. Despite a string of policy successes, Trump remains a divisive political figure. According to RCP’s recent average of national polling, Trump’s job approval rating is just 45.9% and his favorability rating only 44.5%.
Without Trump on the 2026 and 2028 ballots, Republicans must defend his divisive legacy without having the benefit of his vote-getting ability.
More than a strategy, this is a necessity for Democrats. Trump is the only thing that unites them as a party. Democrats lack their own winning policies; their most prominent stands against Trump have been issues – illegal immigration, transgender rights, and crime – that cost them in November 2024. The result is that Democrats find themselves with an abysmal standing: A recent WSJ poll found only 33% of Americans had a favorable view of the Democratic Party.
If elected mayor of America’s largest city, Mamdani undermines this approach.
Republicans would love nothing better than to run against New York, the same way they ran against California when Kamala Harris became Democrats’ presidential nominee. Republicans proved last year that they can win the presidency handily without winning either coast.
In 2024, Republicans lost New York, California, Washington, and Massachusetts by an average of 58% of the popular vote. Yet, Democrats won only 121 of the remaining 433 electoral votes – just 28%. Republicans won 72% of the electoral votes outside Democrats’ coastal strongholds. Only needing 270 total electoral votes for victory, Trump’s 312 votes give Republicans a virtual stranglehold on America’s “flyover” country – where 80% of America’s total electoral votes lie.
In contrast, Democrats have no chance without New York and California; so, they are stuck with sticking up for both. If Mamdani succeeds in rotting the Big Apple, Democrats could see 2026 and 2028 potentially going from a best-case scenario to a worst-case scenario. Democrats would find themselves either defending Mamdani’s radical policies and alienating America or rejecting Mamdani’s radicalism and alienating their far-left supporters.
END
Trump Purges 275,000 Illegal Aliens From Social Security
Thursday, Aug 14, 2025 – 11:00 PM
Months after President Trump signed a Presidential Memorandum targeting illegal aliens and other ineligible individuals from collecting Social Security Act benefits, the president told reporters at the White House on Thursday afternoon that nearly 300,000 illegals have been removed from the government program that provides financial benefits to eligible citizen taxpayers and/or lawful permanent residents (green card holders).
“Last month, I signed the One Big Beautiful Bill, and allowed No Tax on Social Security for our great seniors … and to protect our benefits, we’ve already kicked nearly 275,000 illegal aliens off of the Social Security system,” Trump told reporters.
Recall that on April 15, the president signed a memorandum directing federal agencies to take immediate action to purge the Social Security system of illegals and fraudsters.
As Maureen Steele via American Greatness elegantly noted earlier this year, “We don’t need an executive order to bar illegals from Social Security – we need a government that obeys the law.”
Let’s not forget that the Biden-Harris regime facilitated the invasion of illegal aliens, allowing millions of these third-worlders to siphon dollars and essential services from citizens and lawful permanent residents – in what some have described as a classic Cloward–Piven strategy.
The Federation for American Immigration Reform estimated that taxpayers spend more than $182 billion annually to cover costs associated with 20 million illegal aliens and their children, which includes $66.4 billion in Federal expenses plus an additional $115.6 billion in state and local expenses.
The free lunch for the Democratic Party’s illegals is coming to an end.
Or it was a classic Cloward–Piven strategy.
END
VICTOR DAVIS HANSON:
USA NEWS/ANTISEMITISM
KING NEWs
| The King Report Friday August 15, 2025 Issue 7556 | Independent View of the News |
| US July PPI and Core PPI shockingly jumped 0.9% m/m (0.2% exp) in July on services inflation. On a year-on-year basis, July PPI increased 3.3% (2.5% exp.); Core rose 3.7% (3% exp). Fed’s Musalem: 50Bp Cut Is Not Supported by State of The Economy or The Data – CNBC The panic that we opined is occurring among DJT and his economic team heightened on Thursday due to the very ugly PPI report. Bessent quickly surfaced to extoll the magic elixir of tariffs that will cure all and every US economic illness. He also unbecomingly chastised the Bank of Japan. @RapidResponse47: @SecScottBessent on tariff revenue: “I’ve been saying that I think we can take in $300 billion — and as the Treasury Secretary, I like to be conservative, but there’s a chance that I am going to have to substantially upgrade that number… Every $300 billion is 1% of GDP.” https://x.com/RapidResponse47/status/1955966959306080493 Bloomberg: US Treasury Secretary Scott Bessent said the Bank of Japan is falling behind the curve in addressing inflation, in a rare comment admonishing policy decisions by a foreign central bank https://t.co/QW3TpptbFQ (Bessent gets the bad timing award due to US July PPI.) Of course, DJT-hating Bloomberg published a deceitful headline: US Producer Prices Jump as Companies Pass Along Tariff Costs – BBG 9:11 ET The headline was quickly changed to: US Producer Prices Rise by Most in Three Years on Services because the underlying story stated, “Services costs increased 1.1% last month – the most since March 2022. Within services, margins at wholesalers and retailers jumped 2%, led by machinery and equipment wholesaling. Goods prices excluding food and energy rose 0.4%… After the PPI release, the dollar rallied moderately while stocks, gold, silver, and bonds declined moderately on fear that Team Powell now has the excuse to keep rates unchanged in September. Fangs rallied smartly in early trading on buying for the expiry squeeze. These are the favored expiry manipulation vehicles for all traders, great and small! ESUs traded mostly lower but sideways from the Nikkei opening until they plunged after the abysmal US July PPI Report was released at 8:30 ET. ESUs tumbled from 6491.75 at 8:28 ET to a daily low of 6453.25 at 8:35 ET. After a rebound to 6470.50 at 8:49 ET, ESUs retreated to 6460 at 9:00 ET. After churning in a modest range for 30 minutes, ESUs soared after the NYSE opening and hit a daily high of 6495.25 at 10:48 ET on feverish expiry-related buying. Selling for the 112:30 ET European close materialized; ESUs sank to 6469.00 at 11:27 ET. The post-European close rebound took ESUs to 6482.00 at 12:00 ET. ESUs then fell to 6465.50 at 12:14 ET. It was time for The King of Debt to boost the stock market. Laboring under the delusional that most Americans are card-carrying Cult of Trump Kool-Aid drinkers, the increasingly anxious president told his followers that there is “hardly any inflation at all” and that inflation is “down to a perfect number.” We’re getting into Biden-level gaslighting now! ESUs, abetted by expiry upward bias/manipulation did an A-B-C rally to 6496.00 at 15:55 ET. But like on Wednesday, after the NYSE close, ESUs declined. They fell to 6481.75 at 16:14 ET. Trump Administration Said to Discuss Taking Stake in Intel – BBG 15:47 ET … help shore up Intel’s planned factory hub in Ohio… (Is this central planning?) (The King and his court are clearly and recklessly trying to inflate the equity bubble further!) @MacroEdgeRes: Trump Administration discusses government taking percentage of Intel Corporation just 72 hours after calling for the firing of the CEO. (What’s the definition of fascism?) China July bank loans unexpectedly contract for first time in 20 years New yuan loans contracted by 50 billion yuan ($6.97 billion) in July, falling well short of analysts’ forecasts and plunging from 2.24 trillion yuan in June… Household loans contracted 489.3 billion yuan in July, versus a rise of 597.6 billion yuan in June, according to Reuters calculations, as a prolonged property market crisis showed no signs of easing. Corporate loans plunged to 60 billion yuan from 1.77 trillion yuan in June… M2 money supply grew 8.8% from a year earlier, above analysts’ forecast of 8.2%. M2 expanded 8.3% in June. The narrower M1 money supply rose 5.6% year-on-year, compared with 4.6% in June. https://www.reuters.com/markets/asia/china-july-bank-loans-unexpectedly-contract-first-time-20-years-2025-08-13/ China is trying to inflate, but deflation is overwhelming the scheme. “You can lead a horse to water….” A Met Life survey shows CEOs expect to reduce their workforce over the short and medium term https://x.com/MauiBoyMacro/status/1956021076997366090 (Team Trump better hope for $500+B of tariff revenue!) US electricity costs have been soaring! Chart: https://x.com/zerohedge/status/1954980347030163526 Positive aspects of previous session Traders great and small bought Fangs/ Mag7 for the expiry squeeze The dollar rallied moderately. Major equity indices rallied from moderate declines on Team Trump verbal intervention. Negative aspects of previous session Bonds and most equity indices declined moderately in early trading. The hope for a 50bp rate cut in September is gone with the wind. A palpably irritated Team DJT feels the need to perform verbal intervention at an increasing rate! Probable ESUs manipulators dumped ESUs after the NYSE close, again. Ambiguous aspects of previous session Does Team Powell have the excuse to keep rates unchanged until the next inflation report? 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]: 6461.18 Previous session S&P 500 Index High/Low: 6473.92; 6441.07 @Daily_MailUS: Donald Trump insists Putin ‘is not going to mess around with me’ as he prepares for Alaska meeting… while Russia readys its new cruise missile nuke for tests (Is this self-aggrandizement prudent with beaucoup lives on the line?) @DeItaone: U.S. ADULT DRINKING HITS RECORD LOW, GALLUP FINDS Alcohol consumption among U.S. adults has fallen to its lowest level since Gallup began tracking in 1939, with 54% reporting they drink — down from 58% in 2024 and 62% in 2023, and below the previous record low of 55% in 1958. Gallup’s annual survey found fewer Americans drink regularly: only 24% had a drink in the past day, and 40% went more than a week without — the highest share since 2000. Average weekly intake dropped to 2.8 drinks, the lowest since 1996. Google caught flagging GOP fundraiser emails as ‘suspicious’ – sending them directly to spam: memo https://t.co/cJxcLweoUg Fed Balance Sheet: +$2.772B; Reserves: -$12.442B Richmond Fed Pres Barkin said: Multifamily developers see shortage coming and higher rent. @dailychartbook: “Everyone understands the potential of artificial intelligence. But the S&P 500 is trading at a record multiple of sales (3.4 X), so a lot is riding on keeping margins high.” https://x.com/dailychartbook/status/1955955060695031971 Institutional allocations to equities are at the highest level since November 2007. https://x.com/dailychartbook/status/1955924860053676150 “15-week net buying streak and 25 of the last 27 trading days. Friday’s activity hit the 99th percentile, 41% above 12-month avg … [this is the] 6th longest bullish option steak since 2020.” -Citadel Rubner Today is expiration for August equity options. The usual suspects will try a grand pump & dump in which they manipulate stuff higher and unload into patsies before the expiry clock strikes midnight. Given the robust rally this, barring news or more Team Trump verbal intervention, traders without big-bank funding largesse will try to liquidate there expiring August calls in the late afternoon. Expected Economic Data: July Retail Sales 0.6% m/m, Ex-Autos 0.3%, Ex-Autos & Gas 0.3%; July Import Price Index 0.1% m/m & -0.3% y/y, Ex-Petro 0.1% m/m, Export Price Index 0.0% m/m; July Industrial Production 0.0% m/m, Mfg. Production 0.0%, Capacity Utilization 77.5%; Aug UM Sentiment 62, Current Conditions 67.3, Expectations 58.1, 1-yr Inflation 4.4%, 5-10-yr Inflation 3.4% ESUs are -1.50; NQUs are -45.75; Dec AU is -2.20; and USUs are +4/32 at 20:25 ET. S&P Index 50-day MA: 6118; 100-day MA: 5917; 150-day MA: 5917; 200-day MA: 5925 DJIA 50-day MA: 43,834; 100-day MA: 42,466; 150-day MA: 42,781; 200-day MA: 42,946 (Green is positive slope; Red is negative slope) S&P 500 Index (6468.54 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 6301.17 triggers a sell signal Daily: Trender and MACD are positive – a close below 6421.90 triggers a sell signal Hourly: Trender and MACD are positive – a close below 6435.20 triggers a sell signal John Solomon @jsolomonReports: While Donald Trump was chanting “lock her up” in 2016, it turns out the FBI had developed three cases to do just that to Hillary Clinton over public corruption involving her foundation. But Obama’s DOJ told the agents “shut it down.” ‘Shut it down’: Bombshell FBI timeline exposes political interference in Clinton corruption probe Kid gloves vs. brass knuckles: Newly-declassified timeline shows how the investigation of the Clinton Foundation was hamstrung by FBI and DOJ while baseless Russia collusion marched foward in both agencies against Donald Trump… FBI Director Kash Patel has uncovered a bombshell memo written in 2017 chronicling the extensive political obstruction that career agents in three cities faced from their own bosses and the Obama Justice Department during the 2016 election as they probed whether Hillary Clinton engaged in a pay-to-play corruption scheme involving her family foundation. “Shut it down!” then-Deputy Attorney General Sally Yates is quoted as demanding in the detailed timeline of political impediments that agents in New York City, Little Rock, Ark., and Washington D.C. reported…as February 2016, the Justice Department “indicated they would not be supportive of an FBI investigation.” The timeline also shows that, in mid-February 2016, McCabe ordered that “no overt investigative steps” were allowed to be taken in the Clinton Foundation investigation “without his approval” — a command he allegedly repeated numerous times over the coming months. https://justthenews.com/government/federal-agencies/shut-it-down-bombshell-fbi-timeline-chronicles-political-interference @MikeBenzCyber: John Brennan and James Clapper didn’t go away after cooking up Russiagate. Brennan and Clapper were elevated to Biden DHS’s Domestic Intelligence Experts Group, where they targeted Trump supporters as domestic terrorists and bragged about the “political advantage” of doing so. https://t.co/E1jMt4iqtv @junogsp7: Texas AG Ken Paxton has the perfect counter of Illinois Gov Pillsbury Pritzker’s remarks that he is messing with Texas. “We’re not worried. We’ve seen how ineffective you’ve been for your own state. @AndrewHClark: NEW Politico poll: 64% of California voters OPPOSE Newsom’s plan to nuke the independent redistricting commission and gerrymander the maps. Just 36% support giving authority back to the legislature. Remember – Newsom’s plan has to be approved by voters. https://x.com/AndrewHClark/status/1956002310808854955 Trump marks Social Security’s 90th birthday by claiming 275K illegal immigrants booted off entitlement https://trib.al/NIO9hx8 Trump: 12.4 million names listed in the Social Security database were over 120 years of age https://t.co/l8B3FW6pp6 DC man charged with felony assault after hitting federal agent with Subway sandwich https://trib.al/O1YBqA7 @AGPamBondi: If you touch any law enforcement officer, we will come after you. I just learned that this defendant worked at the Department of Justice — NO LONGER. Not only is he FIRED, he has been charged with a felony. This is an example of the Deep State we have been up against for seven months as we work to refocus DOJ. ou will NOT work in this administration while disrespecting our government and law enforcement. @libsoftiktok: Democrat House Minority leader Hakeem Jeffries comes out against the crackdown on crime in DC. So just to be clear, Democrats now openly and fully support thefts, lootings, shootings, r*pes, and carjackings plaguing DC https://t.co/HsguoXjUwW @DefiantLs: DC resident on Trump cleaning up the city: “The best thing to happen to this city in decades.” https://t.co/Aig7Hd15OG Some enterprising reporters and podcasters have been interviewing blacks in DC and they overwhelmingly endorse Trump’s crackdown on crime. Blacks suffer far more from crime, particularly violent crime, than any other US demographic. Someone should have the guts and decency to ignore the race baiting and do something about this! @AGPamBondi: Any sanctuary jurisdiction that continues to put illegal aliens ahead of American citizens can either come to the table or see us in court. Today @TheJusticeDept delivered demand letters to sanctuary cities, counties, and states — a key step in our strategic effort to eradicate sanctuary policies from California to New York. https://t.co/aKWNCY4hJN More pain for Big Apple renters as prices surge again — and there’s no relief in sight (Wait until the communistic takeover of NYC!) https://t.co/oFSQrg0XTg Trump: (Dem Sen.) “Elizabeth Warren said she was an Indian. We call her Pocahontas. She’s a liar…and a nut job… I watched her the other night. She was all hopped up, endorsing a communist in NYC. She was all excited and jumping up & down. She has GOT to take a drug test. There’s no way someone can act that way and be normal…” https://x.com/townhallcom/status/1956053009990856979 Hunter Biden declines to apologize, recant comment on Epstein allegedly introducing the Trumps The former first son claimed Epstein introduced Melania Trump to her now-husband President Donald Trump and that the connections between the Trumps and Epstein are “so wide and deep.” https://justthenews.com/government/white-house/hunter-biden-declines-apologize-recant-comment-epstein-allegedly-introducing | |
SWAMP STORIES FOR YOU TONIGHT
Hunter Biden Rejects Melania Trump’s $1 Billion Lawsuit Threat Over Epstein Smears: “F**k That”
Thursday, Aug 14, 2025 – 04:17 PM
Hunter Biden crudely dismissed first lady Melania Trump’s $1 billion lawsuit threat over his “false” and “defamatory” claims linking her to notorious pedophile Jeffrey Epstein.
“F–k that. That’s not going to happen,” Biden sneered with a smug grin during an interview on the YouTube show “Channel 5 with Andrew Callaghan” on Thursday.
Melania Trump’s legal team fired a shot across the bow Wednesday, putting the scandal-plagued Biden on notice for alleging Epstein introduced her to President Donald Trump, a claim her team slammed as baseless. The first lady’s attorneys have also cracked down on others peddling similar falsehoods, forcing the Daily Beast last month to retract an article pushing the same narrative after facing legal heat.
Biden doubled down on his accusations in a prior sit-down with Callaghan, alleging, “According to his biographer, Jeffrey Epstein introduced Melania,” citing anti-Trump author Michael Wolff and other dubious sources. He went on to claim, “[It is] beyond a doubt that he [Trump] and Epstein were very close friends for a very long period of time. They spent enormous time together — they spent an enormous amount of time together around young women.”
Attempting to justify his smear, Biden added, “What I said was what I have heard and seen, reported and written, primarily from Michael Wolff, but also dating back all the way to 2019 when the New York Times, I think … reported that sources said that Jeffrey Epstein claimed to be the person to introduce Donald Trump to Melania at that time.”
The first lady’s attorney, Alejandro Brito, has also taken aim at outlets like the Daily Beast for spreading these claims. Veteran Democrat operative James Carville was forced to issue a groveling apology and pull an episode of his podcast after speculating about an “Epstein connection” involving Melania Trump, bowing to pressure from her legal team, according to the New York Post.
“Failure to comply will leave Mrs. Trump with no choice but to pursue any and all legal rights and remedies available to her to recover the overwhelming financial and reputational harm that you have caused her to suffer,” Brito wrote in a letter to offenders, according to Fox News.
The first lady’s legal threat is the latest development in the ongoing Epstein saga, which continues to generate controversy after the Department of Justice and the FBI released a joint memo last month claiming that an “exhaustive review” of evidence from Epstein’s death definitively ruled out murder.
“After a thorough investigation, FBI investigators concluded that Jeffrey Epstein committed suicide in his cell at the Metropolitan Correctional Center in New York City on August 10, 2019,” the memo reads.
The agencies also denied the existence of a “client list” tied to Epstein, directly contradicting earlier remarks by Attorney General Pam Bondi. Bondi had previously suggested on Fox News that such a list was “sitting on my desk” for review, igniting speculation about Epstein’s possible blackmailing of globalist elites.
Trump has repeatedly sought to downplay the ongoing scandal, accusing Democrats, including Hillary Clinton, of fabricating a hoax around Epstein to blow up his agenda.
In recent weeks, the Department of Justice met with Ghislaine Maxwell, Epstein’s convicted accomplice, for two days of interviews in Tallahassee, Florida, as part of a push for transparency in the Epstein case. Maxwell, serving a 20-year sentence for sex trafficking, was granted limited immunity and answered questions for nine hours, with her attorney claiming she was truthful and cooperative.
* * *
As I approached the start of my first-year torts classes at George Washington University, we have a rather intriguing tort action being threatened by the First Lady. Melania Trump has been pursuing media outlets claiming that she was introduced to or had close contact with the notorious Jeffrey Epstein. However, the latest recipient of a notice letter is none other than the son of the prior president, Hunter Biden.
The letter below focuses on two statements made by Biden in a video interview with Channel 5’s Andrew Callaghan, posted to YouTube in early August.
a. “Epstein introduced Melania to Trump. The connections are, like, so wide and deep.”
b. “Jeffrey Epstein introduced Melania, that’s how Melania and the First Lady and the President met. Really? Epstein made the intro? Yeah, according to Michael Wolff.”
The First Lady’s counsel, Alejandro Brito, wrote to Biden’s attorney, Abbe Lowell, that the statements are defamatory per se. The common law has long recognized per se categories of defamation where damages are presumed and special damages need not be proven. These include: (1) disparaging a person’s professional character or standing; (2) alleging a person is unchaste; (3) alleging that a person has committed a criminal act or act of moral turpitude; (4) alleging a person has a sexual or loathsome disease; and (5) attacking a person’s business or professional reputation.
It would be interesting if Hunter’s counsel claimed that the First Lady is technically a “public official” to trigger a higher standard of proof.
In New York Times v. Sullivan, the Supreme Court crafted the actual malice standard that required public officials to shoulder the higher burden of proving defamation. Under that standard, an official would have to show either actual knowledge of its falsity or a reckless disregard of the truth.
The First Lady has a federal budget, staff, and official duties.
In the end, it is likely a moot point since, even if she is not a public official, she is clearly a public figure.
The actual malice standard was later extended to public figures. The Supreme Court has held that public figure status applies when someone “thrust[s] himself into the vortex of [the] public issue [and] engage[s] the public’s attention in an attempt to influence its outcome.” A limited-purpose public figure status applies if someone voluntarily “draw[s] attention to himself” or allows himself to become part of a controversy “as a fulcrum to create public discussion.” Wolston v. Reader’s Digest Association, 443 U.S. 157, 168 (1979).
Brito is claiming damages of $1 billion notice over statements that are “false, defamatory, disparaging, and inflammatory statements” made about the First Lady:
“These false, disparaging, defamatory, and inflammatory statements are extremely salacious and have been widely disseminated throughout various digital mediums. Indeed, the video has since been re-published by various media outlets, journalists, and political commentators with millions of social media followers that have disseminated the false and defamatory statements therein to tens of millions of people worldwide.”
In laying the foundation for reckless disregard of the truth, Brito is citing the dubious source for the information as “serial fabulist Michael Wolff, whose lies were published by The Daily Beast in the article titled ‘Melania Trump ‘very involved’ in Epstein Scandal: Author.’”
Wolff is highly controversial. We previously discussed how his sensational claims have been regularly challenged. That led to a rare rebuke from Special Counsel Mueller after the publication of his book “Siege: Trump Under Fire.” The Special Counsel’s office has already made a rare public denial of one of those claims: that Mueller’s office actually drafted indictments against Trump for obstruction of justice. The New York Times reported on the new book as coming out “despite lingering questions about its accuracy.”
While Mueller’s office categorically denied the claim, Wolff insisted ‘My source is impeccable, and I have no doubt about the authenticity and the significance of the documents.”
The notice letter is ironic given Hunter Biden’s scorched Earth strategy of threatening lawsuits, including defamation, against critics. It did not work. Indeed, Biden abandoned lawsuits after his pardon by his father.
Previous media outlets have pulled similar statements against the First Lady.
The Daily Beast pulled the article detailing allegations by Wolff that Melania Trump was introduced to her husband, Donald Trump, via a modeling agent connected to Epstein. It ran the following notice: “Editor’s Note. After this story was published, The Beast received a letter from First Lady Melania Trump’s attorney challenging the headline and framing of the article. After reviewing the matter, the Beast has taken down the article and apologizes for any confusion or misunderstanding.”
Likewise, James Carville apologized to the First Lady after repeating the claim and stated on his podcast:
“In last week’s podcast episode, we spoke with Judd Legum. After the episode, we received a letter from Melania Trump’s lawyer. He took issue with our title of one of those YouTube videos from that episode and a couple of comments I made about the first lady. We took a look at what they complained about, and we took down the video and edited out those comments from the episode. I also take back these statements and apologize.”
Hunter Biden is reportedly facing financial challenges and the threat of a lawsuit cannot be welcomed news. Biden has been engaging in unhinged, profane diatribes attacking both Democrats and Republicans. The thrill of trash-talking will likely end if Hunter finds himself yet again in court.
Here is the letter: Melania Trump Lawsuit Letter
END
A JOKE!! THEY HAVE BEEN REDISTRICTING FOR YEARS:
Democrats Plan Nationwide Protests Over Redistricting
Friday, Aug 15, 2025 – 07:20 AM
Authored by Chase Smith via The Epoch Times (emphasis ours),
Democrats and allied advocacy groups are set to launch a series of protests on Saturday, Aug. 16, targeting Republican-led redistricting plans they say are designed to secure long-term control of the U.S. House.
The “Fight the Trump Takeover” National Day of Action, organized by the Democratic National Committee (DNC), the Texas for All coalition, and dozens of national and state partners, will feature nearly 150 rallies in at least 34 states.
Demonstrators plan to gather at state capitols, city halls, and community spaces, with the largest event to be held outside the Texas Capitol in Austin, according to organizers.
The campaign began in Texas, where state House Democrats left the state earlier this month to deny a quorum and block a GOP proposal to redraw congressional districts.
The Texas Senate passed the map on Aug. 12 in a 19–2 vote after most Democrats walked out of the chamber. The plan would give Republicans five additional congressional seats in the 2026 midterms.
Gov. Greg Abbott has vowed to call as many special sessions as necessary to see it passed, while Democrats argue the proposal is unconstitutional and unfairly targets districts led by minority lawmakers.
Republicans have defended the effort, saying the changes are legally justified and necessary to address concerns raised by the Department of Justice (DOJ) in early July. The DOJ concerns cited possible “coalition districts” drawn based on racial demographics, which it said could violate the Voting Rights Act and the 14th Amendment.
Texas Republicans also say Democrats have supported redistricting when it benefits them politically, and that GOP-led states should have the same opportunity to maximize partisan advantage.
“Though this fight started in Texas, it doesn’t end here,” Drucilla Tigner, executive director of Texas for All, said in a statement emailed to The Epoch Times.
“This isn’t just about redistricting or one state’s politics. It’s about the future of our democracy.”
California Gov. Gavin Newsom has also weighed in, with his latest message warning that if Republicans proceed with mid-decade redistricting in Texas and other states, California will consider redrawing its own congressional lines to offset GOP gains.
In a letter to President Donald Trump, Newsom urged him to tell Texas Republicans to abandon the plan, calling it a “hyper-partisan gerrymander” and an “affront to American democracy.”
DNC Chair Ken Martin said the party has been mobilizing volunteers and resources in support of Texas Democrats, including sending more than 250,000 text messages to residents and coordinating national media outreach.
“Now, the DNC is supporting Texas for All and state and national partners with the biggest Day of Action yet,“ Martin said in the statement to The Epoch Times. ”Democrats will never stop fighting for all Americans’ voices to be heard—in Texas and across the country.”
Labor groups are also joining the effort.
“From Texas to California to Illinois, the labor movement is united in resisting the Trump takeover,” Rick Levy, president of the Texas AFL-CIO, said in the statement.
“This is a defining battle for the future of our democracy, and working people across the country understand the urgent need to act. As this fight continues to spread nationwide, we will stand strong this Saturday—to defend our votes, protect our rights, and stop this redistricting scheme.”
Organizers say the protests are part of a broader push for redistricting reform, including the creation of independent commissions and greater transparency in map-drawing.
END
The Usual Suspects: Disclosure On The Scuttled Clinton Foundation Investigation Reveals Familiar Names
by Tyler Durden
Friday, Aug 15, 2025 – 03:05 PM
As the Trump Administration finally releases the underlying documents related to prior scandals and investigations, the public has learned a great deal about the origins of the Russian collusion investigation and other subjects.
This week, another document was released explaining why the investigation into the Clinton Foundation seemed to go nowhere.
What is less surprising are the characters involved in shutting down the investigation.
It is, as Claude Rains would say, “the usual suspects” from former Acting Attorney General Sally Yates to former Deputy FBI Director Andrew McCabe.
Many of us had written about the allegations of influence peddling by the Clintons.
While Hillary Clinton was Secretary of State, the Clintons raked in hundreds of millions of dollars from foreign sources.
Clinton Foundation officials were shown to have intervened for donors at the State Department. Those funds were used not only for the Clinton Foundation programs but also for travel and support for the Clinton family members. (Tellingly, donations reportedly plummeted after Clinton left office).
What is striking is that officials who relentlessly pursued Trump and his associates on little evidence were reportedly opposed to aggressive efforts involving the Clintons.
I was one of the loudest critics of Sally Yates, who ordered the entire Justice Department not to assist Trump on immigration efforts after his inauguration. In my view, Yates’s conduct (just days before she was scheduled to leave the department) was a raw political move that shattered standards of professional conduct. It would also make her a heroine on the left and in the media.
Ultimately, Trump prevailed on the underlying claims of authority raised in the immigration orders before the Supreme Court.
In these documents, Yates is shown in an email shutting down the investigation into the Clintons. Despite findings of good cause for further investigation into these allegations of pay-to-play corruption, Yates (then-Deputy Attorney General) is quoted as saying, “Shut it down!”
FBI Director Kash Patel released a memo showing a timeline of the interference, including the message from Sally Yates, whom Trump fired as acting attorney general. McCabe, who is now a CNN contributor, is again shown intervening in a crushingly predictable way.
The declassified timeline revealed that as early as February 2016, the Justice Department “indicated they would not be supportive of an FBI investigation.” The timeline also shows that, in mid-February 2016, McCabe ordered that “no overt investigative steps” were allowed to be taken in the Clinton Foundation investigation “without his approval” — a command he allegedly repeated numerous times over the coming months.
[…]
The timeline detailed how Yates ordered one of the federal prosecutors to “shut it down,” likely in the March 2016 timeframe. Federal prosecutors in the Southern District of New York (SDNY) and Eastern District of New York (EDNY) purportedly said in August 2016 that they “would not support the investigation” into the Clinton Foundation, according to the timeline, and that “no explanation was given.”
Special Counsel John Durham found that the FBI’s Little Rock and New York investigations “included predication based on source reporting that identified foreign governments that had made, or offered to make, contributions to the Foundation in exchange for favorable or preferential treatment from Clinton.”
Nevertheless, the FBI timeline stated that DOJ “indicated they would not be supportive of an FBI investigation” on February 1, 2016.
For those of us who closely followed these investigations and wrote about them, this is hardly surprising but still very valuable for historical purposes. The consistent efforts of figures like McCabe only magnify concerns over the role of key figures in pushing investigations of Trump while discouraging investigations of top Democrats.
Once again, the media is largely ignoring the disclosures. The same reporters who exhaustively pushed the false Russian collusion claims have little interest in these countervailing disclosures. As with the conduct of Yates and McCabe, that is also an all-too-familiar pattern.
GREG HUNTER
SEE YOU ON MONDAY
harveyorganblog.com 
