XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
FROM MY no 4 SON STEPHEN //THROUGH AI: ENJOY
118 C MACQUARIE FUTURES US 13
118 H MACQUARIE FUTURES US 6
132 C SG AMERICAS 5
332 H STANDARD CHARTERED B 2
435 H SCOTIA CAPITAL (USA) 7
661 C JP MORGAN SECURITIES 3 4
690 C ABN AMRO CLR USA LLC 4
732 C RBC CAP MARKETS 1
880 C CITIGROUP 10
905 C ADM 31
GOLD: NUMBER OF NOTICES FILED FOR SEPT/2025: 43 CONTRACTs NOTICES FOR 4300 OZ or 0.1337 TONNES
total notices so far: 2584 contracts for 258,400 OR 8.0373 tonnes)
SILVER NOTICES: 975 NOTICE(S) FILED FOR 4.875 OZ/
total number of notices filed so far this month : 9261 CONTRACTS (NOTICES) for 46.305 million oz
JULY: 50.925 MILLION OZ (QUITE SMALL)
AUGUST: 59.455 MILLION OZ (QUITE SMALL)
SEPT. 9.575 MILLION OZ.
AND JULY: 46.720 MILLION OZ//
AUGUST: 4.70 MILLION OZ INITIAL STANDING PLUS TODAY;S 5,000 OZ QUEUE JUMP //NEW STANDING ADVANCES TO 10.960 MILLION OZ
SEPTEMBER: 54.565 MILLION OZ
AUGUST: 60.547 TONNES OF INITIAL GOLD FIRST DAY NOTICE FOLLOWED BY THE NET MONTH’S QUEUE JUMP OF 47.2312 TONNES TO WHICH WE ADD THE FOLLOWING EXCHANGE FOR RISK ISSUANCE RECEIVED FOR THE MONTH: 5.4432 TONNES EX FOR RISK/AUG 7 , AUG 11: 2.413 TONNES EX FOR RISK AND AUG. 12 OF 2.637 TONNES EX FOR RISK//AUG 25: 9.107 TONNES , AUGUST 26: 9.1010 TONNES ANND NOW AUGUST 27: 9.0699 TONNES//NEW STANDING ADVANCES TO 107.5117 TONNES OF GOLD NORMAL STANDING (INCLUDES ALL MONTHLY QUEUE JUMPS/EX FOR PHYSICAL TRANSFERS//) +44.696 TONNES EX.FOR RISK = 152.208 TONNES
AND NOW SEPT: INITIAL 8.093 TONNES OF GOLD PLUS TODAY’S QUEUE JUMP OF 1.3592 TONNES PLUS 6.299 TONNES OF EXCHANGE FOR RISK TODAY//NEW TOTAL EX. FOR RISK = 8.6314//NEW TOTAL STANDING FOR GOLD SEPT = 18.5629 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 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: 175.86 TONNES A LOT LARGER THIS MONTH.
SEPT. 8.525 TONNES
SPREADING OPERATIONS
NOW SWITCHING TO GOLD FOR NEWCOMERS, HERE ARE THE DETAILS
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF APRIL. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER ROSE BY A MEGA HUGE 4389 CONTRACTS OI TO 158,368 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 7 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 1915 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 1915 CONTRACTS and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1075 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 4564 CONTRACTS AND ADD TO THE 1915 E.FP. ISSUED
WE OBTAIN A MEGA HUGE SIZED GAIN OF 6304 OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES WITH OUR GAIN IN PRICE OF $0.80 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 32.395 MILLION PAPER OZ
OCCURRED WITH OUR $0.80 GAIN IN PRICE.
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENT
Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS
ASIAN MARKETS THIS WEDNESDAY MORNING:
SHANGHAI CLOSED DOWN 44.58 PTS OR 1.16%
//Hang Seng CLOSED DOWN 161.49 PTS OR 0.83%
// Nikkei CLOSED DOWN 371.60 PTS OR 0.88% //Australia’s all ordinaries CLOSED DOWN 1.72%
//Chinese yuan (ONSHORE) CLOSED UP AT 7.1467 OFFSHORE CLOSED UP AT 7.1451/ Oil DOWN TO 65.29 dollars per barrel for WTI and BRENT UP TO 68.81 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP IN TRADING AT 7.1467 AND STRONGER//OFF SHORE YUAN TRADING UP TO 7.1451 AGAINST US DOLLAR/ AND THUS STRONGER
XXXXXXXXXXXXXXXXXXXXXXXXXXXX
END
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A MEGA HUGE SIZED 21,668 CONTRACTS TO 494,291 OI WITH OUR HUGE GAIN IN PRICE OF $79.90 WITH RESPECT TO TUESDAY’S // TRADING.. WE OF COURSE, LOST NO NET LONGS, WITH THAT PRICE GAIN FOR GOLD. AND AS YOU WILL SEE BELOW, OUR GAIN IN PRICE ALSO HAD A STRONG NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (2741). WE HAD ZERO T.A.S. LIQUIDATION AND OUR MONTH END SPREADER LIQUIDATION FINALIZED WITH //FRIDAY TRADING AS WE HAD A TOTAL GAIN IN OI ON BOTH OF OUR EXCHANGES, THE COMEX AND LONDON’S EXCHANGE FOR PHYSICAL EQUATING TO 24,409 CONTRACTS (OR 75.922 TONNES).THEN WE WERE NOTIFIED,AGAIN MUCH TO MY SURPRISE, THAT WE HAD OUR SECOND EXCHANGE FOR RISK FOR SEPTEMBER FOR A HUGE 2025 CONTRACTS OR 202,500 OZ (6.299 TONNES).
HERE IS A CLOSER LOOK AT EXCHANGE FOR RISK ISSUANCES THESE PAST 3 MONTHS;
JULY:
SUMMARY: EXCHANGE FOR RISK ISSUANCE IN JULY/2025: 2 ISSUANCES//3.75 TONNES
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!
AUGUST:
SUMMARY EXCHANGE FOR RISK ISSUANCE IN AUGUST; 7 ISSUANCES//44.696 TONNES
AUGUST: 7 ISSUANCES FOR A MONTHLY MONSTER 14,370 CONTRACTS OR 1,437,000 OZ ( 44.696) TONNES). LAST TUESDAY THE CME ISSUED THE 2ND HIGHEST EVER MONTHLY RECORDED ISSUANCE OF 2924 CONTRACTS AND THIS IS FOLLOWED BY THURSDAY’S HUGE ISSUANCE OF 2226 CONTRACTS THUS BECOMING THE 4TH HIGHEST EVER RECORDED BY THE CME, SLIGHTLY BELOW WEDNESDAY’S ISSUANCE OF 2924 CONTRACTS. THE HUGE NUMBERS OF EXCHANGE FOR RISK SUGGEST THAT A MAJOR CENTRAL BANK IS DEMANDING ITS GOLD BACK.
SEPT:
SEPTEMBER: TWO ISSUANCES SO FAR TOTALLING 2775 CONTRACTS OR 277,500 OZ OR 8.6314 TONNES.
THESE ISSUANCES WILL OF COURSE BE ADDED TO OUR NORMAL DELIVERIES TO GIVE US OUR TOTAL SEPT STANDING FOR GOLD.
HISTORY: LAST 8 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: 7 ISSUANCES FOR A MONTHLY MONSTER 14,370 CONTRACTS OR 1,437,000 OZ ( 44.696) TONNES).LAST TUESDAY THE CME ISSUED THE 2ND HIGHEST EVER MONTHLY RECORDED ISSUANCE OF 2924 CONTRACTS AND THIS IS FOLLOWED BY THURSDAY’S HUGE ISSUANCE OF 2226 CONTRACTS THUS BECOMING THE 4TH HIGHEST EVER RECORDED BY THE CME, SLIGHTLY BELOW YESTERDAY’S ISSUANCE OF 2924 CONTRACTS. THE HUGE NUMBERS OF EXCHANGE FOR RISK SUGGEST THAT A MAJOR CENTRAL BANK IS DEMANDING ITS GOLD BACK.
SEPTEMBER: THREE ISSUANCES FOR 2725 CONTRACTS SO FAR FOR 272,500 OZ OR 8.6314 TONNES OF GOLD!!
AS I EXPLAINED ABOVE,:THE RECIPIENT 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 9TH MONTH FOR ISSUANCE OF EXCHANGE FOR RISK !!.(DEC THROUGH SEPT//ONLY MISSING JUNE.)……… THE FACT THAT A CENTRAL BANK TAKES THE RISK OF A DELIVERY IS TOTALLY INSANE.
DETAILS ON AUGUST COMEX MONTH//FINAL
IN TOTAL WE HAD A MEGA HUMONGOUS SIZED GAIN ON OUR TWO EXCHANGES OF 26,592 CONTRACTS WITH OUR GAIN 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 THROUGH SEPTEMBER 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 SMALL T.A.S ISSUANCE AS THE CME NOTIFIES US THAT THEY HAVE ISSUED 1387 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 MONTH’S RAID DURING COMEX OPTION EXPIRY WEEK FOR JULY. THE TAS SPREADER LIQUIDATIONS COMBINE WITH MONTH END AUGUST SPREADERS AS THEY JOIN FORCES IN AN ATTEMPT TO TEMPER THE GOLD/SILVER PRICE GAINS. THE RAIDS ON OUR PRECIOUS METALS CONTINUED 5 WEEKS AGO WITH HUGE FURY AS WE FINALIZED THE LONDON/OTC OPTION EXPIRY FOR AUGUST AND THEY FOR THE FIRST TIME FAILED WITH RAIDS FINALIZATION ON AUGUST OPTIONS EXPIRY WEEK.
THE T.A.S. LIQUIDATION OF THESE T.AS. CONTRACTS (ALONG WITH AUGUST 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 THE FOLLOWING MONTHS:
FOR APRIL AT 209 + TONNES INCLUDING MANY MASSIVE QUEUE JUMPS AND THIS CONTINUED INTO MAY WITH FINAL STANDING AT 90.23 TONNES.
JUNE WHICH IS A HUGE DELIVERY MONTH , FINAL STANDING WAS RECORDED AT A STRONG 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 MANY QUEUE JUMPS + 3.75 TONNES EX FOR RISK = 41.106 TONNES OF GOLD
NEW FINAL TOTAL TONNES STANDING JULY: 41.106 TONNES
FOR THE MONTH OF AUGUST:
INITIAL AMOUNT OF GOLD STANDING FOR AUGUST: 60.547 TONNES PLUS THE MONTHS HUGE QUEUE JUMPS OF 47.2312 TONNES +44.696 TONNES EX FOR RISK (7 ISSUANCES) //NEW STANDING 152.208 TONNES
AND NOW INITIAL AMOUNT OF GOLD STANDING FOR SEPT; 2,602 CONTRACTS OR 260,200 OZ FOR 8.093 TONNES OF GOLD FOLLOWED BY TODAY’S HUGE 43,700 OZ QUEUE JUMP TO GO ALONG WITH THE HUGE 6.299 TONNES OF EXCHANGE FOR RISK ISSUANCE //NEW TOTAL EXCHANGE FOR RISK ISSUANCE SEPT: 8.6314 TONNES//NEW TOTALS STANDING JUMP TO 18.5629 TONNES OF GOLD!!!
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 238 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.
SUMMARY AUGUST: TOTAL QUEUE JUMPING AND TOTAL EXCHANGE FOR RISKS ISSUANCE FOR THE MONTH OF AUGUST;
WE HAD A HUGE 60.547 TONNES OF INITIAL GOLD STANDING FOR AUGUST, FIRST DAY NOTICE FOLLOWED BY THE MONTHS HUGE TOTAL OF 47.2312 TONNES OF QUEUE JUMPS TO WHICH WE ADD AUGUST 7TH,S HUGE 5.443 TONNES EXCHANGE FOR RISK ISSUANCE +LAST SATURDAY’S/MONDAY AUG 10 HUGE 776 CONTRACT EXCHANGE FOR RISK FOR 2.413 TONNES THEN AUGUST 12: 2.637 TONNES: AND NOW AUG 25: 9.107 TONNES ISSUANCE MONDAY’S MASSIVE 9.1016 TONNES ISSUANCE/AUGUST 25, AUGUST 26 9.0699 TONNES , YESTERDAYDAY’S (AUGUST 27) 9.0699 TONNES AND FINALLY TODAY’S TODAL OF 6.923 TONNESS/NEW STANDING ADVANCES TO 152.208 TONNES.
SUMMARY SO FAR SEPT: 8.093 TONNES INITIALLY STANDING FOR GOLD COUPLED TODAY;S 1.3592 TONNES OF QUEUE JUMPING AND 6.299 TONNES OF EXCHANGE FOR RISK ISSUANCE:
THAT IS;
A) 6.299 TONNES OF EXCHANGE FOR RISK ISSUANCE TODAY//TOTAL FOR MONTH: 8.6314 TONNES
B) 1.3592 TONNES TODAY QUEUE JUMP
TOTALS: 18.5629 TONNES INITIALLY STANDING FOR GOLD/SEPT.
EXCHANGE FOR PHYSICAL ISSUANCE/SEPTEMBER
THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A STRONG SIZED 2741 EFP CONTRACT WAS ISSUED: : /DEC 2741 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 2741 CONTRACT. THESE EFP;S CIRCLE AROUND LONDON ON A 13 DAY BASIS AND ARE NOW USED BY GLOBAL CENTRAL BANKS TO EXERCISE FOR PHYSICAL GOLD WITH THE OBLIGATION TO DELIVER BEING FORCED ONTO COMEX BANKS. THE GOLD GENERALLY DELIVERED COMES FROM LONDON BUT THEY ARE OUT!! THUS COMEX BECOMES THE MAJOR SOURCE FOR OUR CENTRAL BANKERS. THE REGULATORY BODY THAT IS SUPPOSE TO CONTROL THESE EFP’S IS THE OCC HEADQUARTERED IN BOTH LONDON AND WASHINGTON.
WE HAD :
- ZERO LIQUIDATION OF OUR T.A.S. SPREADERS//TUESDAY
- MONTH END SPREADERS HAVE NOW BEEN FINALIZED AS OF AUGUST 29 AND THEY FOR THE FIRST TIME CAUSED NO DAMAGE TO OUR GOLD PRICE
T.A.S.SPREADER ISSUANCE//SEPT.
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 TUESDAY NIGHT/WEDNESDAY MORNING WAS A FAIR SIZED SIZED 1387 CONTRACTS
THE RAIDS WHETHER ON OPTIONS EXPIRY MONTH OR OTHERWISE LIKE LAST MONTH 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; (AND MONTH END SPREADERS)
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 STRONG GAIN IN PRICE IN GOLD AND A CORRESPONDING HUGE GAIN OF COMEX OI AND A STRONG EXCHANGE FOR PHYSICAL ISSUANCE.. THE COMEX IS IN TOTAL TURMOIL ESPECIALLY THESE PAST 3 MONTHS:
WITH JULY’S RARE TWO ISSUANCES OF EXCHANGE FOR RISK (LATE IN JULY)
AND THIS WAS FOLLOWED WITH AUGUST’S 7 ISSUANCES OF EXCHANGE FOR RISK FOR 44.696 TONNES
TO BE FOLLOWED BY SEPTEMBER 2 ISSUANCES FOR EXCHANGE FOR RISK FOR 8.6314 TONNES.
STANDING FOR GOLD LAST 8 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 0.5816TONNES TO WHICH WE ADD OUR 7 MONTHLY ISSUANCES OF: EXCHANGE FOR RISK TOTALLING 44.696 TONNES//NEW STANDING ADVANCES AS FOLLOWS:
107.5117 TONNES NORMAL DELIVERIES (INCLUDES ALL QUEUE JUMPS /EXCHANGE FOR PHYSICAL TRANSFERS) +
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
PLUS: 9.107 TONNES EX FOR RISK AUGUST 25
PLUS 9.1010 TONNES EX FOR RISK AUGUST 26!!
PLUS 9.0699 TONNES EX FOR RISK AUGUST 27
PLUS 6.923 TONNES EX. FOR RISK/AUGUST 28
MONTHLY TOTAL 44.696 TONNES EXCHANGE FOR RISK!MONTH OF AUGUST.
EQUALS
152.208 TONNES TONNES OF GOLD.
SEPT: 9.9315 TONNES OF GOLD (INCLUDES TODAY’S QUEUE JUMP) + 6.299 TONNES EX FOR RISK TODAY_//TOTAL FOR MONTH = 8.6314//NEW TOTALS FOR GOLD STANDING SEPT = 18.5629 TONNES
THIS IS HUGE FOR A GENERALLY WEAK SEPTEMBER DELIVERY MONTH.
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 48 MONTHS OF 2021-2024:
DEC 2021: 112.217 TONNES
NOV. 8.074 TONNES
OCT. 57.707 TONNES
SEPT: 11.9160 TONNES
AUGUST: 80.489 TONNES
JULY 7.2814 TONNES
JUNE: 72.289 TONNES
MAY 5.77 TONNES
APRIL 95.331 TONNES
MARCH 30.205 TONNES
FEB ’21. 113.424 TONNES
JAN ’21: 6.500 TONNES.
TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES
YEAR 2022: STANDING FOR GOLD/COMEX
JANUARY 2022 17.79 TONNES
FEB 2022: 59.023 TONNES
MARCH: 36.678 TONNES
APRIL: 85.340 TONNES FINAL.
MAY: 20.11 TONNES FINAL
JUNE: 74.933 TONNES FINAL
JULY 29.987 TONNES FINAL
AUGUST:104.979 TONNES//FINAL
SEPT. 38.1158 TONNES
OCT: 77.390 TONNES/ FINAL
NOV 27.110 TONNES/FINAL
Dec. 64.000 tonnes
(TOTAL YEAR 656.076 TONNES)
2023:STANDING FOR GOLD/COMEX
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK = 34.9627 TONNES
DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
2024/STANDING FOR GOLD/COMEX
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 11.9325
JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022
JULY: 11.692 TONNES
AUGUST 69.602 TONNES//FINAL STANDING
SEPT. 13.164 TONNES.
OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK =60.391 TONNES
NOV . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES
DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNES EQUALS 95.1066 TONNES
total year 2024: 540.30 tonnes
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
COMEX GOLD TRADING BEGINNING SEPTEMBER CONTRACT;
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY A HUGE $77.90/ /) AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A MEGA HUMONGOUS SIZED GAIN IN OI FROM TWO EXCHANGES. BUT AS EXPLAINED ABOVE WE HAD ZERO T.A.S. SPREADER LIQUIDATION AND THAT GAIN IN OI FOR OUR TWO EXCHANGES WAS DUE TO THE LONGS PILING IT ON TRYING TO OBTAIN BADLY NEEDED GOLD///. 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 WHICH ARE JOINED BY OUR MONTHLY SPREADERS IN ORDER TO FORMALIZE RAIDS ON OUR PRECIOUS METALS WHICH OF COURSE NORMALLY ENDS IN TOTAL FAILURE LIKE IT DID WITH LAST WEEK’S TRADING!! THIS IS THE FIRST TIME THAT THE CROOKS COULD NOT MUSTER A RAID ON OPTIONS EXPIRY LONDON/OTC AUGUST TRADING.
WEDNESDAY MORNING//TUESDAY NIGHT
THE CROOKS HOWEVER COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL TUESDAY EVENING/ WEDNESDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD TO ARRIVE BY BOAT. IT IS NOW TAKING WEEKS TO DELIVER
DETAIL SUMMARY OF NUMBER OF EXCHANGE FOR RISK ISSUANCES: FEB THROUGH SEPTEMBER 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. FEBRUARY IS THE SECOND HIGHEST ISSUANCE OF EXCHANGE FOR RISK AS AUGUST BECOMES THE HIGHEST EVER RECORDED AS YOU WILL SEE BELOW!
EXCHANGE FOR RISK CONTRACTS/MONTH FOR MARCH 3 ISSUANCES
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//APRIL 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: 3
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 RECIPIENT 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: 7 ISSUED,
TOTAL EXCHANGE FOR RISK MONTH OF AUGUST 44.696 TONNES, THE HIGHEST MONTHLY EVER COMEX ISSUANCE!!!!!!
THUS 107.5117 TONNES OF NORMAL GOLD STANDING (INCLUDING ALL QUEUE JUMPS/EX FOR PHYS TRANSFERS) + 44.696 TONNES EX FOR RISK = 152.208 TONNES.
SEPTEMBER: 2 ISSUED:
THE CME NOTIFIED US THAT OUR TWO ISSUANCE OF EXCHANGE FOR RISK EQUATES TO 2725 CONTRACTS FOR 272,500 OZ OR 8.6314 TONNES. WE WILL PROBABLY HAVE A DOOZY FOR SEPT DELIVERIES AS EITHER THE BANK OF ENGLAND OR THE BIS (LOANED TO THE FRBNY) WANTS ITS GOLD BACK+ THE MASSIVE QUEUE JUMPING BY OTHER CENTRAL BANKS
ANALYSIS SEPT DELIVERY MONTH GOING FROM FIRST DAY NOTICE// SEPT COMEX CONTRACT
WE HAVE A MEGA HUMONGOUS SIZED GAIN TOTAL OF 75.922 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR SEPTEMBER AT 8.093 TONNES. WE HAD THE FOLLOWING QUEUE JUMP OF 1.3592 TONNES OF GOLD ALONG WITH 8.6314 TOTAL TONNES OF EXCHANGE FOR RISK (TODAY’S EX FOR RISK ISSUANCE = 6.299 TONNES) AND THUS NEW TOTALS EX FOR RISK MONTH = 8.6310//NEW TOTAL STANDING FOR GOLD IN SEPT: 18.5629 TONNES.
ALL OF THIS HUGE STANDING FOR SEPTEMBER WAS ACCOMPLISHED WITH OUR HUGE GAIN IN PRICE TO THE TUNE OF $79.40
WE HAD 2183 CONTRACTS REMOVED TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL.
NET GAIN ON THE TWO EXCHANGES 24,409 CONTRACTS OR 2,440,900 0Z (75.922 TONNES)
confirmed volume TUESDAY 407,646 contracts// huge//e
speculators have left the gold arena
END
INITIAL GOLD COMEX
SEPT CONTRACT MONTH
SEPT 2 /2025
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 0 entries . |
| Deposit to the Dealer Inventory in oz | 0 ENTRIES |
| Deposits to the Customer Inventory, in oz | DEPOSITS/CUSTOMER 0 ENTRIES xxxxxxxxxxxxxxxxI |
| No of oz served (contracts) today | 43 notice(s) 430000 OZ 0.1337 TONNES |
| No of oz to be served (notices) | 609 contracts 60,900 OZ 1.8942 TONNES |
| Total monthly oz gold served (contracts) so far this month | 2584 notices 258400 oz 8.0373 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
0 ENTRIES
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
customer withdrawal
0 entries
adjustments: 2
i) Ashai: dealer to customer 97,121.681 oz
ii)JPMorgan: dealer to customer; 14,109.820 oz
AMOUNT OF GOLD STANDING FOR SEPTEMBER
THE FRONT MONTH OF SEPTEMBER STANDS AT 652 CONTRACTS FOR A GAIN OF 342 CONTRACTS. WE HAD 95 CONTRACTS FILED ON TUESDAY SO WE GAINED 437 CONTRACTS OR 43,700 OZ ENTERTAINED A QUEUE JUMP OF 1.3592 TONNES. WE NOW MUST ADD OUR INITIAL 2.333 TONNES OF GOLD ISSUED UNDER EXCHANGE FOR RISK/PRIOR TO TODAY’S 6.299 TONNES/NEW EX FOR RISK = 8.63147//THUS NEW TOTAL OF GOLD STANDING 18.5629 TONNES
OCTOBER GAINED 2760 CONTRACTS UP TO 61,878
NOVEMBER GAINED 184 CONTRACTS UP TO 2692 CONTRACTS.
We had 43 contracts filed for today representing 4300 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices issued from their client or customer account. The total of all issuance by all participants equate to 43 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer an 0 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for SEPTEMBER /2025. contract month, we take the total number of notices filed so far for the month (2584 X 100 oz ) to which we add the difference between the open interest for the front month of SEPT ( 652 CONTRACTS) minus the number of notices served upon today (43 x 100 oz per contract) equals 319,300 OZ OR 9.9315 TONNES OF GOLD TO WHICH WE ADD OUR INITIAL EX FOR RISK OF 2.333 TONNES + TODAY;S 6.299 TONNES//NEW TOTAL STANDING: 18.5629 TONNES
thus the INITIAL standings for gold for the SEPTEMBER contract month: No of notices filed so far (2584 x 100 oz +we add the difference for front month of SEPT. (XXX OI} minus the number of notices served upon today (43 x 100 oz) which equals 275,600 OZ OR 8.5723 TONNES PLUS 2.333 TONNES EXCHANGE FOR RISK = 10.9053 TONNES.
TOTAL COMEX GOLD STANDING FOR SEPT..: 10.9053 TONNES TONNES WHICH IS STRONG FOR THIS NORMALLY INACTIVE ACTIVE DELIVERY MONTH IN THE CALENDAR.
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
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: 2,047,609.254 oz 63.68 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 38,957,797.857 oz
TOTAL REGISTERED GOLD 21,315,756.958 or 663.00 tonnes
TOTAL OF ALL ELIGIBLE GOLD 17,642,461.797 OZ
END
REGISTERED GOLD THAT CAN BE SERVED UPON 19,268,147 oz ((REG GOLD- PLEDGED GOLD)= 599.32 tonnes // (
total inventories in gold declining rapidly
SILVER/COMEX
SILVER/COMEX
THE SEPTEMBER 2025 SILVER CONTRACTS
SEPT 3 2025
INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 1 entries: i) Out of Loomis; 2164,635.740 oz total withdrawal 2164.635.740 |
| Deposits to the Dealer Inventory | 0 ENTRY |
| Deposits to the Customer Inventory | 0 DEPOSIT ENTRY/CUSTOMER ACCOUNT |
| No of oz served today (contracts) | 975 CONTRACT(S) (4.875 million OZ |
| No of oz to be served (notices) | 1652 contracts (8.260 MILLION oz) |
| Total monthly oz silver served (contracts) | 9261 Contracts (46.305 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 |
0 deposit into dealer accounts
total deposit nil oz
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
0 DEPOSIT ENTRY/CUSTOMER ACCOUNT
total deposit nil oz
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx)
withdrawals: customer side/eligible
1 entries:
i) Out of Loomis: 2164,635.740 oz
total withdrawal 2164.635.740 oz
ADJUSTMENTs 3 and they are huge!!
a) Asahi dealer account to customer; 2,164,635.740 oz oz
b) Brinks: dealer to customer account; 1,417,104.460 oz
c) Loomis: dealer to customer: 4,427,055.110 oz
total dealer to customer (probable delivery) 8,257,403.000 oz
TOTAL REGISTERED SILVER: 192.627 MILLION OZ//.TOTAL REG + ELIGIBLE. 516.067 Million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR AUGUST
silver open interest data:
FRONT MONTH OF SEPTEMBER /2025 OI: 2627 OPEN INTEREST CONTRACTS FOR A LOSS OF 352 CONTRACTS. WE HAD 584 CONTRACTS SERVED YESTERDAY SO WE GAINED A HUGE 232 CONTRACT OR 1.160 MILLION OZ ENTERTAINED A QUEUE JUMP//NEW STANDING FOR SILVER COMEX ADVANCES TO 54.565 MILLION OZ.
STANDING FOR SILVER: 54.565 MILLION OZ
OCTOBER GAINED 312 CONTRACTS TO 2468
NOVEMBER GAINED 83 CONTRACTS UP TO 1036.
TOTAL NUMBER OF NOTICES FILED FOR TODAY:975 or 4.875 MILLION oz
CONFIRMED volume; ON TUESDAY 135,008 humongous//
AND NOW SEPT. DELIVERIES:
To calculate the number of silver ounces that will stand for delivery in SEPTEMBER. we take the total number of notices filed for the month so far at 9261 X5,000 oz = 46.305 MILLION oz
to which we add the difference between the open interest for the front month of SEPT (2627) AND the number of notices served upon today (975 )x (5000 oz)
Thus the standings for silver for the SEPTEMBER 2025 contract month: (9261) Notices served so far) x 5000 oz + OI for the front month of SEPTEMBER(2627) minus number of notices served upon today (975)x 5000 oz equals silver standing for the SEPTEMBER contract month equating to 54.565 MILLION OZ .
New total standing: 54.565 million oz which is HUGE for this active delivery month of SEPT.. 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 192,627 million oz of registered silver
JPMorgan as a percentage of total silver: 210.283/516.067 million. 40.61%
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!
SEPT 3 WITH GOLD UP $43.20 TODAY/HUGE CHANGES IN GOLD AT THE GLD ; A DEPOSIT OF 12.88 TONNES OF GOLD VAPOUR INTO THE GLD// ///INVENTORY RESTS AT 990.56 TONNES//FAIRY TALES
SEPT 2 WITH GOLD UP $79.90 TODAY/HUGE CHANGES IN GOLD AT THE GLD ; A DEPOSIT OF 9.74 TONNES OF GOLD VAPOUR INTO THE GLD// ///INVENTORY RESTS AT 977.68 TONNES
AUGUST 29 WITH GOLD UP $33.40 TODAY/HUGE CHANGES IN GOLD AT THE GLD ; A DEPOSIT OF 5.44 TONNES OF GOLD INTO THE GLD// ///INVENTORY RESTS AT 962.50 TONNES
AUGUST 28 WITH GOLD UP $18.20 TODAY/HUGE CHANGES IN GOLD AT THE GLD ; A DEPOSIT OF 2.58 TONNES OF GOLD INTO THE GLD// ///INVENTORY RESTS AT 962.50 TONNES
AUGUST 27 WITH GOLD UP $12.60 TODAY/HUGE CHANGES IN GOLD AT THE GLD ; A DEPOSIT OF 1.43 TONNES OF GOLD INTO THE GLD// ///INVENTORY RESTS AT 959.92 TONNES
AUGUST 26 WITH GOLD UP $12.15 TODAY/HUGE CHANGES IN GOLD AT THE GLD ; A DEPOSIT OF 1.72 TONNES OF GOLD INTO THE GLD// ///INVENTORY RESTS AT 958.49 TONNES
AUGUST 25 WITH GOLD DOWN $1.05 TODAY/NO CHANGES IN GOLD AT THE GLD// ///INVENTORY RESTS AT 956.77 TONNES
AUGUST 22 WITH GOLD UP $35.35 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.44 TONNES OF GOLD FROM THE GLD/// ///INVENTORY RESTS AT 956.77 TONNES
AUGUST 21 WITH GOLD DOWN $6.80 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 4.00 TONNES OF GOLD FROM THE GLD/// ///INVENTORY RESTS AT 958.21 TONNES
AUGUST 20 WITH GOLD UP $29.95 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 3.16 TONNES OF GOLD FROM THE GLD/// ///INVENTORY RESTS AT 962.21 TONNES
AUGUST 19 WITH GOLD DOWN $16.90 TODAY/NO CHANGES IN GOLD AT THE GLD:/// ///INVENTORY RESTS AT 965. TONNES
AUGUST 18 WITH GOLD DOWN $4.05 TODAY/HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 4.01 TONNES OF GOLD INTO THE GLD//// ///INVENTORY RESTS AT 961.36 TONNES
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/
GLD INVENTORY: 990.56 TONNES, TONIGHTS TOTAL
SILVER
SEPT 3 WITH SILVER UP $0.95/ HUGE CHANGES AT THE SLV AT DEPOSIT OF 1,816 MILLION OZ INTO THE SLV:// ////INVENTORY RESTS AT 494.043 MILLION OZ./
SEPT 2 WITH SILVER UP $0.95/ HUGE CHANGES AT THE SLV AT WITHDRAWAL OF .727 MILLION OZ FROM THE SLV:// ////INVENTORY RESTS AT 492.227 MILLION OZ./
AUGUST 29 WITH SILVER UP $0.80/ HUGE CHANGES AT THE SLV AT DEPOSIT 0F 1.862 MILLION OZ:// ////INVENTORY RESTS AT 492.954 MILLION OZ./
AUGUST 28 WITH SILVER UP $0.48/ NO CHANGES AT THE SLV:// ////INVENTORY RESTS AT 491.092 MILLION OZ./
AUGUST 27 WITH SILVER UP $0.04/ SMALL CHANGES AT THE SLV: A WITHDRAWAL OF 454,000 OZ FORM THE SLV// ////INVENTORY RESTS AT 491.092 MILLION OZ./
AUGUST 26 WITH SILVER DOWN $0.19/ NO CHANGES AT THE SLV: // ////INVENTORY RESTS AT 491.546 MILLION OZ./
AUGUST 25 WITH SILVER DOWN $0.28/ SMALL CHANGES AT THE SLV: A SMALL DEPOSIT OF 0.363 MILLION OZ OF SILVER LEAVES THE SLV// ////INVENTORY RESTS AT 491.546 MILLION OZ./
AUGUST 22 WITH SILVER UP $0.92/ SMALL CHANGES AT THE SLV: A SMALL WITHDRAWL OF 0.908 MILLION OZ OF SILVER LEAVES THE SLV// ////INVENTORY RESTS AT 491.183 MILLION OZ./
AUGUST 21 WITH SILVER UP $0.29/ SMALL CHANGES AT THE SLV: A SMALL WITHDRAWL OF 1.09 MILLION OZ OF SILVER LEAVES THE SLV// ////INVENTORY RESTS AT 492.091 MILLION OZ.//
AUGUST 20 WITH SILVER UP $0.41/ SMALL CHANGES AT THE SLV: A SMALL WITHDRAWL OF 545,000 OZ OF SILVER LEAVES THE SLV// ////INVENTORY RESTS AT 493.181 MILLION OZ.//
AUGUST 19 WITH SILVER DOWN $0.64/ HUGE CHANGES AT THE SLV: A MAMMOTH DEPOSIT OF 9.173 MILLION OZ OF SILVER VAPOUR ARRIVES AT THE SLV// ////INVENTORY RESTS AT 493.726 MILLION OZ.//
AUGUST 18 WITH SILVER UP $0.06/ NO CHANGES AT THE SLV ////INVENTORY RESTS AT 484.553 MILLION OZ.//
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.//
CLOSING INVENTORY 494.043 MILLION OZ//
PHYSICAL GOLD/SILVE
1/ PETER SCHIFF/S
PETER SCHIFF
JOHN RUBINO
MARKET EAR…………………
2. MATHEW PIEPENBERG/VON GREYERZ
ALASDAIR MACLEOD
3. CHRIS POWELL AND GATA GOLD DISPATCHES/OTHER GOLD RELATED TOPICS
4. ANDREW MAGUIRE/LIVE FROM THE VAULT KINESIS 238
5. COMMODITY REPORT GOLD
ASIAN MARKETS THIS WEDNESDAY MORNING:
SHANGHAI CLOSED DOWN 44.58 PTS OR 1.16%
//Hang Seng CLOSED DOWN 161.49 PTS OR 0.83%
// Nikkei CLOSED DOWN 371.60 PTS OR 0.88% //Australia’s all ordinaries CLOSED DOWN 1.72%
//Chinese yuan (ONSHORE) CLOSED UP AT 7.1467 OFFSHORE CLOSED UP AT 7.1451/ Oil DOWN TO 65.29 dollars per barrel for WTI and BRENT UP TO 68.81 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN UP IN TRADING AT 7.1467 AND STRONGER//OFF SHORE YUAN TRADING UP TO 7.1451 AGAINST US DOLLAR/ AND THUS STRONGER
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS TUESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP TO 7.1467
OFFSHORE YUAN: UP TO 7.1451
HANG SENG CLOSED DOWN 161.49 PTS OR 0.83%
2. Nikkei closed UP 121.70 PTS OR 0.29%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX UP TO 98.35 EURO RISES TO 1.1634 UP 2 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +1.640//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 148.77…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: UP OFFSHORE: UP
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil DOWN for WTI and DOWN FOR BRENT this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.7728 Italian 10 Yr bond yield DOWN to 3.684 SPAIN 10 YR BOND YIELD DOWN TO 3.381
3i Greek 10 year bond yield DOWN TO 3.508
3j Gold at $3538.00 Silver at: 40.84 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 76 /100 roubles/dollar; ROUBLE AT 81.36
3m oil (WTI) into the 65 dollar handle for WTI and 68 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 148.77/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.641% 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: 0.9369 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: 4.295 UP 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.987 UP 2 BASIS PTS/
USA 2 YR BOND YIELD: 3.660 UP 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 41.17
10 YR UK BOND YIELD: 4.8250 UP 6 PTS ESCALATING RAPIDLY
30 YR UK BOND YIELD: 5.727 PLUS 4 BASIS PTS
10 YR CANADA BOND YIELD: 3.442 UP 0 BASIS PTS
5 YR CANADA BOND YIELD: 2.922 DOWN 0 PTS
2a New York OPENING REPORT
Futures Rebound As Google Jumps On Court Ruling, Bond Selloff Fades
Wednesday, Sep 03, 2025 – 08:36 AM
US equity futures are higher following a two-day slide, led by Tech with a favorable court ruling boosting GOOG (+5.7% pre-mkt) and lifting the Mag7 group. As of 8:00am ET S&P futures are up 0.5%, recovering most of yesterday’s losses; while Nasdaq 100 futs add 0.7%. In premarket trading, Mag7 names are all higher with AAPL (+2.9%) and TSLA (+1.7%) the notable standouts alongside GOOG. Cyclicals are poised to outperform as the yield curve bear steepens. In Europe, the Estoxx 50 is up by almost 1%, led by info tech and industrials sectors. Longer duration bonds are seeing a global sell-off (30Y JGBs +7bp, 30Y Gilts +6bp) while US is outperforming (30Y +2bp); underperformance is driven by global budget concerns (these come and go), which have sent gold is higher for the 7th consecutive session, adding ~5% in that time. USD is weaker and commodities are mixed. WTI crude futures fall 1.7% to near $64.50 after a report said that OPEC+ is considering another supply boost for October at this weekend’s meeting. Today’s data focus is on JOLTS, Durable/Cap Goods, Beige Book, and consumer-sector earnings to gain clarity on the consumer.
In premarket trading, Alphabet (GOOGL) shares are up 5% after a US antitrust ruling was not as severe as feared. Google will be required to share online search data with rivals while avoiding harsher penalties, including the forced sale of its Chrome business. Apple (AAPL) rises 4% after a US judge stopped short of barring the iPhone maker’s lucrative search arrangement with Google. All other Mag 7 stocks are also higher (Tesla +1.5%, Nvidia +0.4%, Meta +0.8%, Amazon +0.03%, Microsoft unch).
- Dollar Tree Inc. (DLTR) falls 4% after the retailer’s 2Q report underwhelmed Wall Street.
- HealthEquity (HQY), which administers health savings accounts, rises 4% after posting 2Q profit that beat the average analyst estimate and raised its fiscal year outlook.
- Macy’s Inc. (M) climbs 13% after raising its annual outlook and reporting its best comparable sales growth in 12 quarters, the latest signs that consumers are still spending despite concerns about inflation and tariffs.
- Zscaler (ZS) is up 1.8% after the software company reported fourth-quarter results that beat expectations and gave a revenue forecast that is seen as strong.
Stocks were boosted as the selloff in government debt lost momentum as well. The yield on 30-year Treasuries came within touching distance of 5% before erasing the advance. UK gilts and euro-area bonds rebounded. Japan’s 20-year debt yields hit the highest since 1999 earlier in the day. The recent fragility of bond markets has underscored the strain from heavy public spending, which demands ever-rising issuance. That uncertainty is spilling into equities, where traders grapple with stretched valuations after a record rally, alongside persistent concerns over monetary policy and inflation.
Meanwhile, the bond market is pouring gasoline on the fire: the week has so far seen more than $116 billion of bond sales by governments and companies. The figure includes a record $57.7 billion of issuance in Europe on Tuesday.
“Yesterday was the largest issuance day on record in Europe as a whole,” wrote Fred Repton, a senior fund manager at Neuberger Berman. “One should not draw too many conclusions from one extremely active day. What can be said though is that market participants are again focused on deficits and political risk, and this theme is likely to continue.”
After Fed Chair Jerome Powell last month signaled the central bank’s support for a softening jobs markets, Wednesday’s JOLTS data is likely to indicate more labor-market cooling. Further ahead, Friday’s nonfarm payrolls report is expected to show a fourth straight month of sub-100,000 job growth, the weakest stretch since the onset of the pandemic in 2020. Swaps currently imply around a 90% chance of a quarter-point Fed rate cut later this month, with three more similar moves expected by June.
“We don’t see yields rising much further than their current levels,” said Roland Kaloyan, head of equity strategy at Societe Generale SA. “That being said, this bond selloff means that there will be an even greater focus on Friday’s US job data and their impact on the Fed’s easing policy.”
In Europe, the Stoxx 600 is up 0.7% as investors welcomed a calmer day in the European government bond market. European stocks rebound after bonds globally sold off Tuesday on worries about fiscal deficits in developed markets. Adidas rises after the sportswear group was upgraded to buy at Jefferies. Here are some of the biggest movers on Wednesday:
- Adidas shares rise as much as 3.8% on an upgrade to buy from hold at Jefferies following its “brutal” de-rating, while JPMorgan places the German company on a positive catalyst watch.
- PVA TePla rises as much as 10% after the German semiconductor firm surprised analysts with details on growth opportunities.
- Ashtead rises as much as 3.2%, to the highest since January, following the equipment rental specialist’s first-quarter results.
- AMG shares rise as much as 9.4% as Citi lifts its price target on the Dutch specialty chemicals firm to a Street high, saying earnings tailwinds are likely to continue.
- Viridien rises as much as 15% after Bernstein upgraded the earth and data science company to outperform from market perform.
- Derichebourg shares plunge as much as 19% as Portzamparc downgrades the French group after it cut its 2025 guidance, citing a late and challenging trade deal with the US.
- Hilton Food falls as much as 19% after reporting first-half results that analysts describe as “mixed.”
- M&G falls by as much as 3.8%, the most since April, as the UK asset manager’s first-half adjusted operating profit misses analyst forecasts.
- Swiss Life shares fall as much as 3.9% after the financial services provider reported first-half results, with fees missing analyst estimates.
- Lufthansa shares slide 3.3% after the airline launched an offering of unsecured and unsubordinated convertible bonds due 2032 in an aggregate principal amount of €600 million with a denomination of €100,000 each, according to a statement.
- Continental shares fall as much as 0.9% after Bernstein downgraded the car parts manufacturer to underperform, saying the value unlocked from the upcoming spinoff is now fully priced in and flagging risk to promised margin expansion.
Earlier in the session, Asian shares headed for a second day of declines, weighed by those in Japan due to domestic political uncertainty and weakness in regional chip-making stocks. The MSCI Asia Pacific Index slid as much as 1%, the most in about a week. Japanese shares, which make up around 30% of the index, were a big drag as the Nikkei 225 Index fell 0.9%%. Australian equities also dropped after growth data reinforced the case for the central bank to keep interest rates unchanged. Investor sentiment soured in Japan after Prime Minister Shigeru Ishiba’s key power broker announced his intention to resign. Asian chip stocks were under pressure after the US revoked Taiwan Semiconductor Manufacturing Co.’s authorization to freely ship essential gear to its main Chinese chipmaking base. TSMC fell as much as 1.3% before erasing the loss. Elsewhere in the region, Thai stocks rose after the country’s largest political party said it will back conservative politician Anutin Charnvirakul’s bid to form a government following last week’s sacking of Paetongtarn Shinawatra as prime minister for ethics violations.
In rates, treasuries are slightly lower, with US 30-year yields up 1 bp at 4.96% having come within a whisker of 5% earlier while European bonds stabilize following Tuesday’s global government bond selloff. UK gilts erased an earlier fall to trade higher on the day, pushing UK 30-year yields down 2 bps to 5.67%. German long-end yields also dip. US yields are 2bp-3bp cheaper on the day with 5s30s flatter by around 1bp as long-end marginally outperforms. 10-year is near 4.285% with bunds and gilts in the sector outperforming by around 3.5bp
In FX, the Bloomberg Dollar Spot Index is down 0.1%. The pound and euro add 0.2% each against the greenback. Spot gold rises $5.
In commodities, WTI crude futures fall 1.7% to near $64.50 after a report said that OPEC+ is considering another supply boost for October at this weekend’s meeting. Gold’s latest record came as growing expectations for US interest-rate cuts bolstered the metal’s appeal, while the drop in bonds and equities has strengthened its haven status. Bullion climbed as much as 0.5% to close in on $3,550 an ounce.
US economic data slate includes July JOLTS job openings and factory orders (10am). Fed speaker slate includes Musalem at 9am, and Fed releases Beige Book at 2pm
Market Snapshot
- S&P 500 mini +0.4%
- Nasdaq 100 mini +0.6%
- Russell 2000 mini -0.2%
- Stoxx Europe 600 +0.6%
- DAX +0.6%
- CAC 40 +1%
- 10-year Treasury yield +3 basis points at 4.29%
- VIX -0.2 points at 16.99
- Bloomberg Dollar Index little changed at 1206.71
- euro +0.1% at $1.1656
- WTI crude -0.6% at $65.22/barrel
Top Overnight News
- American companies are once again beating profit expectations, but this time around they aren’t banking on blockbuster consumer spending to make it happen. Instead, the latest batch of quarterly earnings are getting a lift from managers who are squeezing out costs, boosting productivity and turning to new technologies. WSJ
- Treasury Secretary Scott Bessent is planning to start a blitz of interviews on Friday in search of a candidate to be the next chair of the Federal Reserve, according to people familiar with the matter. The interview process would continue next week. There are 11 contenders, including Kevin Hassett, Kevin Warsh, and Fed governors Christopher Waller and Michelle Bowman. WSJ
- US admin officials reportedly want to fund federal agencies until the first quarter of 2026: “This would avoid repeated shutdown deadline dramas. Yet it also opens the door to a year-long continuing resolution”: Punchbowl
- Holiday spending by US consumers is set to tumble 5.3% Y/Y, the steepest decline since the pandemic. RTRS
- FTC commissioner Rebecca Kelly Slaughter reinstated to her role by an appeals court decision after being fired by Trump, a decision that could have implications for the White House’s Fed fight. NYT
- The September rise in long-end yields is partly driven by heavy corporate issuance, Pimco said. Natixis warned that a rate cut amid high inflation risks steepening the curve. BBG
- Xi Jinping showcased China’s military and diplomatic clout at a parade with Russia’s Vladimir Putin and North Korea’s Kim Jong Un — their first joint public appearance. Xi vowed to build a “world-class military” to ensure China stands “self-reliant and strong.” BBG
- China’s services activity expanded at the fastest pace in over a year in August, a private survey showed, driven by increased tourism. BBG
- Australia’s GDP growth advanced 0.6% in the second quarter, beating forecasts and bolstering the case for the RBA to hold rates. BBG
- Alphabet shares jumped premarket after a judge ruled Google can retain control of Chrome though it must share some search data with rivals. Apple also rose as it will continue receiving more than $20 billion a year for default search rights. GOOGL +6.48% premkt, AAPL +3.4% premkt. BBG
Corporate News
- Google avoided a breakup after a US judge ruled against the government’s most onerous proposals, including a forced sale of its Chrome browser, another court victory for Big Tech in the biggest antitrust case in three decades.
- The US has revoked Taiwan Semiconductor Manufacturing Co.’s authorization to freely ship essential gear to its main Chinese chipmaking base, potentially curtailing its production capabilities at that older-generation facility. TSMC shares retreated in Taiwan.
- BlackRock Inc. has lost a mandate worth €14.5 billion ($17 billion) with one of the largest pension funds in the Netherlands, amid concerns the world’s biggest money manager isn’t acting in the best interests of clients when it comes to climate risk.
- Macy’s Inc. raised its annual outlook and reported its best comparable sales growth in three years, the latest signs that consumers are still spending despite concerns about inflation and tariffs.
- Beach Point Capital Management hired Joshua Baumgarten, a credit veteran who previously worked at TPG Angelo Gordon and Blackstone Inc., as its president and chief investment officer.
- Jane Street Group LLC filed an appeal in an India court, alleging that the country’s securities regulator denied it access to crucial documents needed for its defense against market manipulation accusations.
- Sales at Cracker Barrel Old Country Store Inc. took a hit from the political firestorm that emerged after the chain updated its logo, underscoring the real-life business impact of social media outrage fanned by the president.
Trade/Tariffs
- Japanese Trade Negotiator Akazawa is reportedly arranging a visit to the US between September 4th-6th, according to Yomiuri. To travel to the US from Thursday through Saturday, according to the government.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were predominantly lower following the weak handover from Wall St, where the major indices declined on return from the extended weekend as sentiment was dampened by global debt concerns amid a higher yield environment. ASX 200 retreated with the declines led by underperformance in tech, utilities and financials, while slightly stronger-than-expected Australian GDP data failed to inspire. Nikkei 225 was pressured amid a higher global yield environment but with the downside initially cushioned by recent currency weakness. Hang Seng and Shanghai Comp gradually fell despite the better-than-expected RatingDog Services PMI data from China and with the attention in Beijing on the military parade, which was attended by Russian President Putin and North Korean Leader Kim, while US President Trump reacted in a post and accused them of conspiring against the US.
Top Asian News
- Japanese ruling party LDP’s Aso is set to call for an early party election, according to Mainichi.
- BoJ Governor Ueda said he exchanged views with PM Ishiba on the economy and financial markets, while they had discussions on various topics about the economy and talked about forex. Ueda said it was a regular meeting to exchange views on the economy and financial markets and there is no change to their stance of raising interest rates if the economy and prices move in line with the forecast.
- Japan’s budget requests from government agencies for next FY total JPY 122.45tln, according to the MoF.
- RBA Governor Bullock says the RBA is actively exploring the implications of emerging technologies, particularly AI, and how they can support its mission.
European bourses (STOXX 600 +0.5%) opened in the green and have held an upward bias throughout the morning. Sentiment which is seemingly driven by a paring of the significant pressure seen on Tuesday, and as Google received a favourable judge ruling. European sectors hold a slight positive bias, following on from a poor session on Tuesday. Tech takes the top spot, paring back some of the underperformance seen in the prior session as Google (+5.8% pre-market) helps to lift the mood within the sector (see US section for details). Consumer Products follows closely behind, with the Luxury sector building on the prior day’s gains, this time following a positive trading update from Watches of Switzerland (+7.6%). The Co. confirmed strong sales, affirmed its guidance and highlighted that it does not expect to be materially impacted by US tariffs in H1’26.
Top European News
- EU court backs US data pact, avoiding fresh privacy fight
- ECB’s next move could be to cut or hike rates, Dolenc says
- Germany’s services sector unexpectedly contracted in August
- Bayrou open to alternative budget plan if deficit target remains
- Rachel reeves to deliver crunch UK budget on November 26
- UK Chancellor Reeves says need to bring inflation and borrowing costs down; says economy is not broken.
- French Finance Minister Lombard urged for a compromise on the 2026 Budget and said the deficit reduction plan will inevitably be less ambitious if the government falls, while he is confident France will accomplish its GDP growth forecast of 0.6% this year and said they are on track to reduce the deficit from 5.8% in 2024 to 5.4% in 2025, according to FT.
- EU court backs EU and US data transfer deal affecting thousands of firms.
FX
- DXY was initially a little firmer but is now trading on the backfoot and towards session lows. Traders are mindful of ongoing tariff-related updates with President Trump stating that his administration will be going to the Supreme Court today to appeal the judgement from the US appeals court that most of his tariffs are illegal. Given the other routes available to Trump, desks remain sceptical that an unfavourable Supreme Court judgement would have any material sway on the administration’s approach to trade policy. Focus will today also be on the data slate with JOLTS job openings due on deck ahead of ADP tomorrow and NFP on Friday. DXY currently near lows in a 98.20 to 98.63 range.
- EUR is slightly firmer with incremental macro drivers for the Eurozone lacking. Final Eurozone PMI metrics passed with little in the way of fanfare with the August composite PMI metric revised a touch lower to 51.0 from 51.1. The accompanying report noted that “Yes, the economy has been growing since the start of the year, but the pace is painfully slow”. One risk on the horizon for the Eurozone comes via French political tensions as markets brace for the September 8th confidence vote in PM Bayrou. Expectations are firmly in favour of him losing the vote. EUR/USD delved as low as 1.1609 before staging a recovery.
- JPY remains on the backfoot and unable to catch a break vs. the USD. Yesterday’s softness was largely pinned on a lack of commitment from BoJ Deputy Governor Himino in backing further policy tightening, alongside increased domestic political risk. On which, the latest reports suggest that Japanese ruling party LDP’s Aso is set to call for an early party election, according to Mainichi. On trade, Japanese Trade Negotiator Akazawa is reportedly arranging a visit to the US between September 4th-6th, according to Yomiuri. USD/JPY briefly moved back above its 200DMA at 148.83 and took out the 149 level with a session peak at 149.13 before retreating.
- After a wobble in early European trade, GBP has managed to recoup losses. Back-end UK yields remain higher as fiscal angst continues to grip the market narrative. Markets now have a date for the Autumn Budget with the Treasury opting for November 26th; somewhat later than what many had been expecting. On monetary policy, focus today will be on BoE’s Bailey, Lombardelli, Greene and Taylor all due to appear before the TSC. Likely areas of focus will be on how the Bank looks to navigate the pathway between an expected slowdown in growth and stubborn inflation. An upward revision to the August services and composite PMIs failed to provide additional support for GBP. GBP/USD hit a multi-week low at 1.3334 before recovering to levels just above 1.34.
- AUD is a touch more resilient than most peers with the currency underpinned by a better-than-expected outturn for Q2 Australian GDP (Q/Q 0.6% vs. Exp. 0.5%). AUD/USD sits in close proximity to its 50DMA at 0.6519 and around the mid-point of Tuesday’s 0.6483-0.6558 range.
Fixed Income
- A softer start to the day for Bunds, continuing the price action seen on Tuesday but holding above Tuesday’s 128.68 low. Thereafter, a bout of pressure to a 128.63 trough, with downside of c. 15 ticks occurring amid a volume spike just after the cash equity open and the morning’s first PMI. The Spanish Services figure came in shy of consensus, though internal commentary was strong. Though this was short-lived. Thereafter, Germany was revised lower into contractionary territory, which helped to lift Bunds marginally back into the green and to a 129.00 high. No real move to a German 2035 auction, which saw a same-as-prior b/c, but higher avg. yield.
- OATs are gaining to a similar degree as German paper. The main update has been an interview with Finance Minister Lombard to the FT, the Minister outlined that the toppling of PM Bayrou next week (looks all but certain, currently) would require fresh concessions to be made to the left in order to secure support for the fiscal package. A package that is currently targeting a deficit cut of EUR 44bln. The Bund-OAT 10yr yield spread remains steady around the 80bps mark.
- Gilts began on the backfoot today, but recent price action has been upwards, following European peers. Confirmation this morning that the Treasury will unveil the Autumn Budget on November 26th, confirming a Huffington Post scoop. Price action this morning began with a continuation of Tuesday’s sell off, Gilts as low as 89.36, 24 ticks below Tuesday’s base. However, the magnitude of this has waned in-fitting with the upticks discussed in EGBs, and most recently UK paper has climbed incrementally into the green. As for yields, thus far a 4.86% high for the 10yr, eyeing January’s 4.925% peak, and 5.75% for the 30yr. Ahead, the BoE appears before the TSC to discuss the last policy announcement (subject to two rounds of voting, resulting in a 25bps cut).
- USTs are directionally in-fitting with peers but with action contained to a thin 112-00 to 112-08+ band thus far. USTs await Fed speak Musalem and Kashkari, remarks that are intersected by a handful of data points headlined by JOLTS.
- Germany sells EUR 3.81bln vs exp. EUR 5bln 2.60% 2035 Bund: b/c 1.4x (prev. 1.4x), average yield 2.77% (prev. 2.69%), retention 23.8% (prev. 22.3%).
Commodities
- Softer trade in the crude complex this morning after whipsawing yesterday amid a stronger dollar and with the US imposing sanctions targeting Iranian oil. Newsflow for the complex has been quiet, although traders are keeping tabs on developments in the east, with focus overnight on the Chinese military parade – but more so the presence of Russian President Putin and North Korean leader Kim alongside Chinese President Xi. The complex then took a significant leg lower on Reuters source reports that OPEC+ is mulling another oil production hike at Sunday’s meeting – this is in contrast to expectations that the OPEC-8 would hold production. WTI fell from USD 65.17/bbl to USD 64.33/bbl before paring around half of the move in the minutes since. At the same time, Brent slipped from USD 68.73/bbl to USD 67.89/bbl.
- Mixed trade across precious metals in narrow parameters. Spot gold holds a mild upward bias but printed fresh record near the USD 3,550/oz level overnight despite recent dollar strength. Spot gold resides in a USD 3,526.54-3,547.33/oz range at the time of writing, with the next upside level the USD 3,550/oz mark.
- Upward tilt across base metals with prices supported by a stable dollar and with sentiment also net-positive. 3M LME copper breached USD 10k/t to the upside and resides in a USD 9,935.80-10,038.13/t range at the time of writing.
- World Gold Council said to launch a digital form of gold, according to FT.
- OPEC+ reportedly mulling another oil production hike at Sunday meeting, according to Reuters source; final decision not made yet
Geopolitics: Russia-Ukraine
- Ukraine’s military said Russia launched an air attack on Kyiv and it was also reported that all of Ukraine was under air raid alerts following Ukrainian air force warnings of Russian missile and drone attacks, while Poland scrambled aircraft to ensure airspace security after Russia launched strikes on Ukraine.
- Russian Foreign Minister Lavrov said Moscow expects Russia-Ukraine talks to continue and he stated that the heads of delegations are in direct contact. Lavrov said Russia expects statements from its partners in support of dialogue with the US on Ukraine, while he added that for a lasting peace in Ukraine, territorial realities must be recognised. Lavrov also said that India did not bow to US demands to stop purchasing resources from Russia, which Moscow appreciates, as well as noted the US is making active diplomatic efforts on Ukraine and that Putin–Trump contacts are substantive. Furthermore, he said a new system of security guarantees for Russia and Ukraine must be formed and that Moscow calls for ensuring a neutral, non-bloc and non-nuclear status of Ukraine, according to RIA and TASS.
- Russian Foreign Ministry spokeswoman said Kyiv and its allies reject the possibility of compromises on settlement of conflicts, according to RIA.
- Russia and the US are in the process of coordinating on dates and the venue of the next round of talks, according to RIA.
Geopolitics: Middle East
- “[Israeli] Finance Minister Smotrich seeks to impose sovereignty over 82% of the West Bank”, according to Al Jazeera.
Geopolitics: Other
- Chinese President Xi said at the military parade in Beijing that China is a great nation that fears no violence and is self-reliant and strong, while he added the Chinese people stand on the right side of history and are committed to peace. Xi also said the world is facing a choice of peace or war now and he called on nations to prevent historical tragedies from recurring.
- US President Trump posted on Truth Social “The big question to be answered is whether or not President Xi of China will mention the massive amount of support and “blood” that The United States of America gave to China in order to help it to secure its FREEDOM from a very unfriendly foreign invader. Many Americans died in China’s quest for Victory and Glory. I hope that they are rightfully Honored and Remembered for their Bravery and Sacrifice! May President Xi and the wonderful people of China have a great and lasting day of celebration. Please give my warmest regards to Vladimir Putin, and Kim Jong Un, as you conspire against The United States of America. PRESIDENT DONALD J. TRUMP”.
US Event Calendar
- 5:00 am: Aug Wards Total Vehicle Sales, est. 16.1m, prior 16.41m
- 7:00 am: Aug 29 MBA Mortgage Applications, prior -0.5%
- 10:00 am: Jul JOLTS Job Openings, est. 7381.5k, prior 7437k
- 10:00 am: Jul Factory Orders, est. -1.3%, prior -4.8%
- 10:00 am: Jul F Durable Goods Orders, est. -2.8%, prior -2.8%
- 10:00 am: Jul F Durables Ex Transportation, est. 1.1%, prior 1.1%
- 10:00 am: Jul F Cap Goods Orders Nondef Ex Air, est. 1.1%, prior 1.1%
- 10:00 am: Jul F Cap Goods Ship Nondef Ex Air, prior 0.7%
Central Banks
- 9:00 am: Fed’s Musalem Speaks on Economy and Policy at Peterson
- 2:00 pm: Fed Releases Beige Book
DB’s Jim Reid concludes the overnight wrap
Last night we published a new presentation pack, Back to work… until Xmas. Since it has become almost de rigueur to reach for the ‘back-to-school’ analogy, we’ve chosen instead to highlight the joy of returning to work – though with the daunting reality of no holiday break until Christmas. In the pack, we outline five themes we believe will shape the remainder of 2025: whether AI and US equities are in a bubble; the pros and cons of Fed rate cuts; the path for US Treasuries if the Fed is indeed cutting; the state of play five months on from Liberation Day (April 2); and the situation after 225 days of Trump 2.0.
These themes felt immediately relevant yesterday as global markets fully reopened for the first main day of trading after the holiday season. Fixed income markets led the moves, with a major bond sell-off that pushed 30-year UK gilt yields to their highest since May 1998, while French OATs hit levels last seen in 2009. The pressure was not confined to Europe, with US Treasuries also selling off—10s and 30s both rising sharply, the latter again testing 5% before closing just under at 4.96%. We’re at 4.985% again in Asia as I type. At the same time, gold extended Monday’s record, rising +1.64% to surpass $3,500 for the first time, as its role as a hedge against inflation and fiscal concerns remains firmly in play.
Equities struggled across the board. The S&P 500 fell -0.69%, with the Nasdaq (-0.82%) and the Mag-7 (-1.08%) down by more, as tech underperformed. The S&P did partially recover after trading -1.5% lower intra-day but it was still a broadly weak day with more than three-quarters of its constituents losing ground. Nvidia (-1.95%) and Amazon (-1.60%) were among the key laggards, reigniting investor concerns over AI-linked valuations as US markets returned from the long Labor Day weekend. The risk-off tone was even sharper in Europe, where most indices lost over a percent, led by the DAX with a -2.29% drop as IT (-3.12%) and Industrials (-3.05%) weighed heavily.
Concerns around Fed independence also contributed to the bond market moves. A second court hearing began yesterday on whether President Trump can be temporarily barred from dismissing Fed Governor Lisa Cook, though Bloomberg reporting suggests that there likely won’t be a ruling before the end of the week. Earlier, nearly 600 economists signed an open letter in Cook’s defence, while FHFA Director Bill Pulte kept up accusations of mortgage fraud. Meanwhile, Treasury Secretary Scott Bessent confirmed the search for Powell’s successor as Fed Chair is already underway, with the WSJ reporting that he plans to start interviews on Friday. In comments to Reuters, he stressed that the Fed “should remain independent,” though he was quick to add that it has also “made a lot of mistakes.”
In the UK, 30yr gilt yields rose +5.2bps to 5.69%, their highest since May 1998, a month when pop group Aqua had a number one single that wasn’t “Barbie Girl”. A prize if you remember what it was without looking. The gilt move underscored the fiscal challenges Chancellor Reeves faces ahead of the autumn budget. The government must fill a £20–25bn gap by November, and sterling fell more than 1% against the dollar as those risks came into sharper focus. See our economist Sanjay Raja’s latest thoughts on all things UK related here.
In France, 30yr OAT yields rose +4.9bps to 4.49%, the highest since 2009, amid rising expectations of another government collapse next week. Our economists see the French deficit running at 5.6–5.8% of GDP in 2025, above the official 5.4% target, further adding to concerns around debt sustainability.
Data offered a mixed picture. In the US, the August ISM manufacturing survey showed a modest improvement, rising to 48.7 from 48.0, though still below the 49.0 expected. New orders beat expectations (51.4 vs 48.0 expected and 47.1 previously). However, the employment index remained subdued (43.8 vs 45.0 expected and 43.4 previously) and prices paid fell from 64.8 to a 6-month low of 63.7, which helped yields reverse from the day’s intra-day highs. Although we have JOLTS today, attention will increasingly shift to Friday’s payrolls, where our economists expect headline and private payroll growth of around 100k, up from the prior month, with unemployment steady at 4.2%—though there is a risk it rounds down to 4.1%. All eyes on the revisions after last month’s shock.
In Europe, core flash inflation surprised slightly to the upside, at 2.3% YoY (vs. 2.2%), while headline was in line with expectations at 2.1%. Services inflation eased a touch from 3.2% to 3.1%, but the stickiness in core goods kept pressure on yields and reinforced our economists view that we have likely reached the ECB’s terminal rate. Among ECB speakers, the more dovish Simkus suggested in an interview that a rate cut may be in play in October or December, but Isabel Schnabel said “ I do not see a reason for a further rate cut” and indicated that renewed rate hikes “may come earlier than many people currently think”. The amount of ECB rate cuts priced by next June is now down to a cycle low of 15bps.
Geopolitics also crept back onto the radar, with reports that Russia and the US are preparing for a new round of consultations. Meanwhile, in Turkiye, the BIST 100 fell -3.57% after a court removed Ozgur Celik, the newly elected CHP leader.
Asian equity markets are following the global trend and are lower this morning. Across the region, the S&P/ASX 200 (-1.62%) is leading losses as RBA rate cut prospects dimmed following upbeat GDP data (details below). Additionally, the Nikkei (-0.79%), the Hang Seng (-0.40%), the CSI (-0.88%) and the Shanghai Composite (-0.96%) are also trading notably lower. US equity futures are creeping higher though, with the S&P 500 +0.10% higher, while the NASDAQ is outperforming (+0.26%) after Google spiked by more than 7% after-hours following a court decision that it won’t have to sell its Chrome browser.
Coming back to Australia, the economy expanded +1.8% y/y (v/s +1.6% expected) in the second quarter of the year, marking the fastest pace of growth since September 2023 and higher than the revised +1.4% growth seen in the previous quarter with the growth largely led by household consumption. Following the data, the Australian Dollar reversed opening losses and is trading flat against the dollar as I type while the yield on the policy sensitive 3yr government bonds have jumped +9.1bps, extended an earlier gain to hit 3.541%, the highest level in seven weeks.
Elsewhere, yields on Japan’s longer maturity JGBs continue to be at multi-decade highs, following the global selloff in bonds and political uncertainty in the nation. Yields on 20-year government bonds are +3.1bps to trade at 2.667%, a level last seen in 1999 while those on the 30-year are +4.1bps to 3.26%, its highest since its debut in 1999.
Looking ahead, today brings the US JOLTS report, factory orders, and August vehicle sales. In Europe, we’ll get Italy’s services PMI and Eurozone PPI, while Canada releases Q2 labour productivity. Central banks are also busy: the Fed’s Beige Book is due, with remarks from Musalem, Lagarde, Bailey, and several other BoE speakers. On the earnings side, highlights include Salesforce, HPE, Gitlab and Dollar Tree.
2b/ European opening report
2c) Asian opening report
Futures point to a firmer open despite a lower APAC handover – Newsquawk Europe Market Open
Wednesday, Sep 03, 2025 – 01:41 AM
- APAC stocks were predominantly lower following the weak handover from Wall St; sentiment dampened by global debt concerns.
- European equity futures indicate a higher cash market open with Euro Stoxx 50 future up 0.3% after the cash market closed with losses of 1.4% on Tuesday.
- DXY is holding onto yesterday’s gains, JPY and GBP remain softer vs. the USD after a bruising session on Tuesday.
- USTs lack direction following yesterday’s bear-steepening. Bunds are a touch softer, JGB tracked recent losses in global peers.
- Crude futures lacked conviction after whipsawing yesterday, spot gold is steady after printing another fresh ATH.
- UK Chancellor Reeves has pencilled in November 26th for the date of the Budget, according to Huffington Post.
- Looking ahead, highlights include EU Producer Prices, EZ, UK, US Services PMI (Final), US Durable Goods R (Jul), JOLTS Job Openings (Jul), NBP Announcement, Fed Beige Book, BoE’s Mann, Breeden, Bailey, Lombardelli, Greene & Taylor, ECB’s Lagarde, RBA Governor Bullock, Fed’s Musalem & Kashkari, Supply from Germany.
Newsquawk in 3 steps:
1. Subscribe to the free premarket movers reports
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
US TRADE
EQUITIES
- US stocks declined on Tuesday as participants returned from the long Labor Day weekend and were hit by the broader risk aversion amid numerous factors including the US appeals court ruling on Trump tariffs as illegal, geopolitical uncertainty, and the US Commerce Department revoking waivers for Intel/Samsung/SK Hynix/TSMC. Meanwhile, Treasuries saw broad-based selling alongside global fixed income as the US curve bear steepened on trade rulings, global fiscal/political woes, and supply.
- SPX -0.69% at 6,416, NDX -0.79% at 23,231, DJI -0.55% at 45,296, RUT -0.60% at 2,352.
- Click here for a detailed summary.
TARIFFS/TRADE
- US President Trump said on the tariff ruling that they’re going to the Supreme Court Wednesday and need an early decision.
- US Ambassador to NATO said US President Trump has not put tariffs on China because those negotiations are ongoing and the war in Ukraine is certainly part of that discussion, while he added that Trump “certainly knows that he has those cards to play” and may impose tariffs if he deems them necessary. He also stated that while tariffs on India “have changed their calculation” about purchases of Russian energy, the US “probably not going to foster a closer relationship in trade with India”.
- Japanese Trade Minister Akazawa is to visit the US this week, according to TV Tokyo.
NOTABLE HEADLINES
- US President Trump said they need a very serious rate cut, while it was also reported that the ruling on Trump’s Fed firing is not expected until after September 4th.
- US Treasury Secretary Bessent is planning to start a blitz of interviews on Friday in search of a candidate to be the next Fed Chair, according to WSJ.
- US President Trump said they’re going to send the National Guard to Chicago.
- Atlanta Fed GDPNow (Q3 25): 3.0% (prev. 3.5%)
APAC TRADE
EQUITIES
- APAC stocks were predominantly lower following the weak handover from Wall St, where the major indices declined on return from the extended weekend as sentiment was dampened by global debt concerns amid a higher yield environment.
- ASX 200 retreated with the declines led by underperformance in tech, utilities and financials, while slightly stronger-than-expected Australian GDP data failed to inspire.
- Nikkei 225 was pressured amid a higher global yield environment but with the downside initially cushioned by recent currency weakness.
- Hang Seng and Shanghai Comp gradually fell despite the better-than-expected RatingDog Services PMI data from China and with the attention in Beijing on the military parade, which was attended by Russian President Putin and North Korean Leader Kim, while US President Trump reacted in a post and accused them of conspiring against the US.
- US equity futures (ES +0.1%, NQ +0.2%) traded mixed after recent losses on Wall St and with Alphabet shares supported after-hours following a federal judge ruling that the Co. would not be required to sell its Chrome browser but must share data with competitors.
- European equity futures indicate a higher cash market open with Euro Stoxx 50 futures up 0.3% after the cash market closed with losses of 1.4% on Tuesday.
FX
- DXY is holding onto yesterday’s gains, which were seen amid a risk-off tone that was fuelled by a global rise in bond yields amid concerns over increased debt issuances, and which outweighed the data releases. Nonetheless, participants look ahead to incoming releases including JOLTS data scheduled later, which kicks off a flurry of employment metrics culminating with Friday’s NFP report, while it was also reported that Treasury Secretary Bessent is planning to start a blitz of interviews on Friday for the Fed Chair role.
- EUR/USD languished firmly beneath the 1.1700 handle after it recently gave up ground to the buck, while the mostly hotter-than-expected EU inflation data and somewhat mixed comments from ECB officials did little to inspire the single currency.
- GBP/USD remained subdued at a sub-1.3400 territory following yesterday’s underperformance as debt concerns were triggered alongside a rise in the UK 30yr yield to a 27-year high.
- USD/JPY continued its upward momentum and edged closer to the 149.00 level before running into some resistance.
- Antipodeans were contained with only brief support seen following the slightly better-than-expected Australian GDP data.
FIXED INCOME
- 10yr UST futures lacked direction after bear steepening yesterday following trade rulings, global fiscal woes and supply.
- Bund futures languished beneath the 129.00 level after retreating alongside a sell-off in global bond markets as yields climbed and with a EUR 5bln Bund issuance scheduled for today.
- 10yr JGB futures tracked recent downside in global peers with demand not helped by a lack of tier-1 data from Japan.
COMMODITIES
- Crude futures lacked conviction after whipsawing yesterday amid a stronger dollar and with the US imposing sanctions targeting Iranian oil, while participants will have to wait an additional day for this week’s inventory data owing to the recent Labor Day holiday.
- Israeli PM Netanyahu ordered not to proceed with the huge gas agreement between Leviathan and Egypt without his consent, according to Al Jazeera citing Israel’s Hayom.
- Spot gold was rangebound but printed fresh record highs above the USD 3,500/oz level despite recent dollar strength.
- World Gold Council said to launch a digital form of gold, according to FT.
- Copper futures pulled back from a 1-month high amid the mostly subdued overnight risk appetite including in its largest buyer, China.
CRYPTO
- Bitcoin traded indecisively with price action oscillating around the USD 111k level.
NOTABLE ASIA-PAC HEADLINES
- BoJ Governor Ueda said he exchanged views with PM Ishiba on the economy and financial markets, while they had discussions on various topics about the economy and talked about forex. Ueda said it was a regular meeting to exchange views on the economy and financial markets and there is no change to their stance of raising interest rates if the economy and prices move in line with the forecast.
- Japanese ruling party LDP’s Aso is set to call for an early party election, according to Mainichi.
DATA RECAP
- Chinese RatingDog Services PMI (Aug) 53.0 vs. Exp. 52.4 (Prev. 52.6)
- Chinese RatingDog Composite PMI (Aug) 51.9 (Prev. 50.8)
- Australian Real GDP QQ SA (Q2) 0.6% vs. Exp. 0.5% (Prev. 0.2%, Rev. 0.3%)
- Australian Real GDP YY SA (Q2) 1.8% vs. Exp. 1.6% (Prev. 1.3%, Rev. 1.4%)
GEOPOLITICS
MIDDLE EAST
- Israeli PM Netanyahu said they have destroyed the Iranian axis in Gaza, Lebanon and Syria, while he said in a message to Israeli soldiers that the war in Gaza has reached a decisive stage, according to Al Arabiya and Sky News Arabia.
RUSSIA-UKRAINE
- US President Trump commented about Russian President Putin, in which he stated that he is “very disappointed in him” and will be doing something to help people live regarding the war in Ukraine, according to the Scott Jennings Radio Show.
- Ukrainian President Zelensky said Russia is engaged in a new troop buildup in certain sectors and continues to launch strikes on Ukraine.
- Ukraine’s Foreign Ministry said the Zaporizhzhia nuclear power plant is a part of Ukraine and it will never agree to legalise its Russian occupation, while it added the only way to guarantee safety at the plant is the full and immediate withdrawal of Russian troops.
- Ukraine’s military said Russia launched an air attack on Kyiv and it was also reported that all of Ukraine was under air raid alerts following Ukrainian air force warnings of Russian missile and drone attacks, while Poland scrambled aircraft to ensure airspace security after Russia launched strikes on Ukraine.
- Russian Foreign Minister Lavrov said Moscow expects Russia-Ukraine talks to continue and he stated that the heads of delegations are in direct contact. Lavrov said Russia expects statements from its partners in support of dialogue with the US on Ukraine, while he added that for a lasting peace in Ukraine, territorial realities must be recognised. Lavrov also said that India did not bow to US demands to stop purchasing resources from Russia, which Moscow appreciates, as well as noted the US is making active diplomatic efforts on Ukraine and that Putin–Trump contacts are substantive. Furthermore, he said a new system of security guarantees for Russia and Ukraine must be formed and that Moscow calls for ensuring a neutral, non-bloc and non-nuclear status of Ukraine, according to RIA and TASS.
- Russian Foreign Ministry spokeswoman said Kyiv and its allies reject the possibility of compromises on settlement of conflicts, according to RIA.
- Russia and the US are in the process of coordinating on dates and the venue of the next round of talks, according to RIA.
- Russia and India discussed the possibility of expanding S-400 supplies, according to TASS.
OTHER
- Chinese President Xi said at the military parade in Beijing that China is a great nation that fears no violence and is self-reliant and strong, while he added the Chinese people stand on the right side of history and are committed to peace. Xi also said the world is facing a choice of peace or war now and he called on nations to prevent historical tragedies from recurring.
- US President Trump posted on Truth Social “The big question to be answered is whether or not President Xi of China will mention the massive amount of support and “blood” that The United States of America gave to China in order to help it to secure its FREEDOM from a very unfriendly foreign invader. Many Americans died in China’s quest for Victory and Glory. I hope that they are rightfully Honored and Remembered for their Bravery and Sacrifice! May President Xi and the wonderful people of China have a great and lasting day of celebration. Please give my warmest regards to Vladimir Putin, and Kim Jong Un, as you conspire against The United States of America. PRESIDENT DONALD J. TRUMP”
- US President Trump said he is not concerned about the axis forming against the US, including among China and Russia. Furthermore, Trump said regarding Chinese President Xi hosting Russian President Putin and North Korean Supreme Leader Kim, in which he stated that this is not a challenge and “China needs us more than we need them”, as well as stated that he may take a different stance on Putin if nothing comes.
EU/UK
NOTABLE HEADLINES
- UK Chancellor Rachel Reeves has pencilled in November 26 for the date of the Budget, according to Huffington Post.
- UK is in advanced talks to build warships for Denmark and Sweden, according to FT.
- French Finance Minister Lombard urged for a compromise on the 2026 Budget and said the deficit reduction plan will inevitably be less ambitious if the government falls, while he is confident France will accomplish its GDP growth forecast of 0.6% this year and said they are on track to reduce the deficit from 5.8% in 2024 to 5.4% in 2025, according to FT.
- ECB’s Muller said it makes sense to keep rates on hold for a while and watch the economy, while he added that looking at recent data, “we could still assume that we are more or less on the path that was already there during the last round of projections for the ECB”. Furthermore, Muller said “In light of all of this turmoil that we have seen in the recent past, starting with the trade policy in the US, also the impact of war in Ukraine that we have now for a number of years, the economy has held up quite well in Europe”.
3A NORTH KOREA/SOUTH KOREA
SOUTH KOREA//NORTH KOREA/
3B JAPAN
JAPAN ET AL: EXTREMELY IMPORTANT!!!!!!!!!!!!!!!!!!!!!!
Contagion Live: JGB Explosion Fuels Volatility, Gold Surge
Wednesday, Sep 03, 2025 – 10:08
THE one
Japan 30 year exploding to the upside, trading in “uncharted” territory. This is simply huge. DB’s Reid: “30-year yields are hitting decade plus or multi-decade highs in several countries. Is this inflation, central bank independence, or fiscal fears? Likely a bit of all three…“
Source: LSEG Workspace
UK too
UK 20 year yield “breaking up”, trading at the highest levels since 1998…
Source: LSEG Workspace
France can too
Break out momentum continues in French rates, chart shows the 20 year and the 200 day.
Source: LSEG Workspace
5%
US 30 year trapped inside a huge triangle like formation. 5% is the magical level to watch. A close above it, and things could get “dynamic”…
Source: LSEG Workspace
Bond liquidity
Good luck reshuffling size in UK and French bonds.
Source: Robin Brooks
Gold knows
Gold following the Japanese 30 year, pricing in “spillover” risks…
Source: LSEG Workspace
Bond volatility catching bids
We have witnessed an epic reset in bond volatility since the Liberation Day “confusion”, but yesterday we saw MOVE pop higher.
Source: LSEG Workspace
Welcome back
Volatility revival across assets. Chart shows VIX, MOVE and GVZ (gold volatility).
Source: LSEG Workspace
3C CHINA
CHINA RUSSIA NORTH KOREA
nobody wins in a nuclear war:
‘Unstoppable’: Xi Unveils Nuclear Triad In Military Parade Challenging West, Alongside Putin & Kim
Wednesday, Sep 03, 2025 – 09:45 AM
Chinese leader Xi Jinping’s massive military parade in Tiananmen Square marking the end of World War II, and attended by world leaders, mostly notably so-called ‘pariahs’ Russian President Vladimir Putin and North Korea’s Kim Jong Un, hasn’t disappointed – and even elicited a quick response from President Trump.
Chinese leader Xi Jinping declared that China’s rise is “unstoppable” and showcased over 10,000 troops marching in perfect synchronicity – and a notable lack of ‘diversity’ so elevated in the West – along with hundreds of advanced weapons. Most notably, Xi also for the first time showcased the PLA military’s land, sea, and air-based nuclear force – a complete and deadly triad.
The whole thing was also an opportunity to prove to the world that the process of modernizing the world’s largest standing army is well underway and that there are growing ties – or a “special relationship” even – between China and other major nuclear armed powers Russia and North Korea.
Xi’s opening speech featured the words, “Humanity is again faced with a choice of peace or war, dialogue or confrontation, and win-win outcomes or zero-sum games.”
As for the complete nuclear triad, this included the JingLei-1 air-launched long-range missile, the JuLang-3 submarine-launched intercontinental missile, the DongFeng-61 land-based ICBM, and a new variant of the DongFeng-31 land-based ICBM, according to Xinhua News.
Some fresh Bloomberg analysis has described:
China has doubled down on its growing arsenal of nuclear weapons. China revealed several nuclear capabilities, including next generation intercontinental ballistic missiles like the DF-5C, DF-61, and JL-3. Notably, the JL-3 is submarine launched. This means that China has all three legs of a nuclear triad — air, ground, and sea-launched nuclear missiles – and more credible second-strike capability. The submarine-launched JL-3 is capable of reaching the continental US, meaning Beijing could hold targets there at risk in a potential conflict.
Below: China’s DF-5 strategic intercontinental nuclear missile, which has a strike range capable of covering the entire planet.
State media described these weapons as China’s strategic “ace” – highlighting their importance in defending the country’s sovereignty, security, and national pride – and key to its deterrence strategy.
Air-defense laser systems were showcased during the parade, including a large laser that, according to state-run television, is intended for deployment on naval warships. A ground-based version of was also displayed.AFP/Getty Images
Additionally, two oversized undersea drones made their first appearance, with images revealing their massive scale compared to nearby soldiers.
Massive sea drones.
Trump couldn’t resist weighing in on the provocative images…
The president wrote ironically, “Please give my warmest regards to Vladimir Putin, and Kim Jong Un, as you conspire against the United States of America.”
Trump also underscored America’s WW2 defeat of Japan, which ultimately secured lasting peace for China. No, Xi did not give a shoutout to the United States for this, but instead Xi stood proudly with his US-sanctioned allies…
Kim’s arrival showed he brought two family members with him to Beijing – his sister, Kim Yo Jong, among one of his closest advisors, and a young girl believed to be his daughter, Kim Ju Ae, whose presence has raised the question over a possible future successor.Via BBC
Wednesday’s events presented the unprecedented spectacle of three leaders Western mainstream press has dubbed the “axis of upheaval” overlooking these nuclear toys as they drive past…
The DF-5C ICBM comes in 3 parts on 3 vehicles, carries up to 12 nuclear warheads, and has a range of 13,000–20,000 km, enough to reach any global target.
Concerning Trump and US-China relations, the timing of all of this is very significant, given the White House recently indicated that President Trump might be in the region by late October and is open to meeting with Xi.
Among major issues remains the hoped-for long-anticipated deal on tariffs, the potential sale of TikTok in the US, as well as the question of Beijing’s influence Putin related to the future of the Ukraine war, especially the question of a ceasefire or broader resolution in Ukraine.
Below: An unexpected conversation among the three…
In an extremely rare hot mic moment at the China parade, Xi and Putin discussed how organ transplants(!) and other advances may allow people to live to 150 this century.
“Peace through strength” appears to be Xi’s message in this parade, to use what’s actually a longtime phrase used by American leaders.
As for Kim, he’s obviously gone much deeper in Russia’s corner in Ukraine, even having sent over 10,000 North Korean troops as par of the war effort – an estimated 2,000 of which have come back home in coffins – signifying a deepening Moscow-Pyongyang alliance which Xi has not joined on such a level, and likely wants no part of.
4. European affairs and NATO
UK
Introducing Vexillophobia: Fear Of The Flag Is Britain’s Greatest Madness
Wednesday, Sep 03, 2025 – 03:30 AM
Authored by Laura Dodsworth via DailySceptic.org,
I recently returned from holiday. The segue from hot dry days oiled with rosé and factor 30 to a best-of-British grey rainy day was harsh. But as I took myself out for provisions, slapping my sandals through puddles under a leaden sky, my mood lifted. The high street was lined with our beautiful Union flags. Bright red, white and blue cut through the drizzle like fireworks. A reminder that this is home.
Not everyone feels the same. X, that great sewer of national neurosis, is on fire with polarised responses to a few flags on lampposts. Some of us see hope, pride and courage. Others see racism, fascism and the end of civilisation. And so I would like to coin a new word for our times: Vexillophobia.
Vexillology is the study of flags. A vexillophile is someone who loves them.
I am amazed that no one else has coined the obvious opposite, vexillophobia, until now. Yet here we are, in a country that actually needs a word for people who recoil in horror at bunting.
A vexillophobe hates flags. They are allergic to bunting. They start to twitch at the sight of a fluttering Union Jack. The St George’s cross provokes maximum fear and outrage in the vexillophobe.
Take Andy Burnham, who said:
“You can obviously display a flag if that’s your choice but I don’t know, I do wonder about the times we’re living in. It’s like people are seeking confrontation.”
I think Andy Burnham is a vexillophobe.
He is not alone — vexillophobia is sweeping the land. Professor Kehinde Andrews told Good Morning Britain that people who put up flags are really signalling that “Britain is white and we shouldn’t be here”. Essex County Council sent staff a note warning that England flags on roundabouts might make people feel “unsettled”. The Archbishop of Canterbury, no less, complained last summer that nationalists “defile the flag they wrap themselves in”. Poor Justin, what does he make of the Last Night of the Proms when the Albert Hall becomes a glorious sea of flags, Rule Britannia! soaring and hearts pounding with joy? Perhaps he considers it a televised hate crime.
The media is consumed with bunting panic. NBC asked, ‘Patriotic pride or anti-immigrant campaign? Why the English flag is suddenly everywhere‘ and the BBC dourly warned: “National flags have started lining our streets. They may say something more.”
A YouGov survey last year revealed that one in four Britons has an unfavourable view of people who fly the Union Jack or St George’s Cross. Keir Starmer claimed that the Labour Party was the patriotic party, but Labour voters were 13 times more likely than Conservative supporters to describe England’s flag as “racist and divisive”. Almost half of Labour voters took a negative view of those who hang a St George’s Cross outside their home.
Parliament has an APPG on British Muslims, building on the APPG on Islamophobia which preceded it, and is determined to push for legal and institutional recognition of Islamophobia as a form of racism. There are APPGs dedicated to health and mental health. So, why is there no All-Party Parliamentary Group on vexillophobia? This country urgently needs one. MPs must step up and support sufferers of this terrible malady. Imagine how difficult it must be to go about your daily business while breaking into a cold sweat every time you pass a car dealership or a Wetherspoons festooned with Union Jacks. Truly, this is a silent epidemic.
And it gets worse, since I suspect the vexillophobes don’t just complain, they project. They accuse people who love flags of being “flag-shaggers”. No one is shagging flags — one wonders whether there is something distinctly Freudian about this insult?
No, I am afraid that vexillophobia is a giant red flag for hatred of one’s own nation — in other words, a form of contorted self-hatred. If you cannot take joy in your own country’s symbols, if you sneer at those who fly the flag at home, if it drives you mad to see your flag in the high street, then you have a deeper problem.
J.D. Vance has told patriotic Britons to “push back against the crazies”. But what should we do about the crazies themselves?
Fortunately, psychology has answers. The classic treatment for phobias is exposure therapy. Arachnophobes are encouraged to look at a spider from a distance, then closer, then to hold one in their hands until the fear subsides. Likewise, we can only hope that if vexillophobes are exposed to more and more flags they will not only be de-sensitised, but even learn to enjoy the thrilling colours and elegant geometry of one of the best flags in the world.
There is no cure but courage. Vexillophobes must learn to stand tall, eyes fixed on the flagpole, and embrace what they fear.
So, people, you know what to do. Proudly raise the colours. Hang a flag from your window, tie bunting across your garden, stick a Union Jack on your car. If nothing else, it will help our poor vexillophobic neighbours confront their demons.
The red, white and blue is ours. Let it fly.
This article was first published on Laura’s Substack, the Free Mind. Subscribe here.\
END
EU
EU Accelerating Toward Collapse: Merz, Draghi, And Lagarde Reveal Europe’s Crisis Path
Wednesday, Sep 03, 2025 – 02:00 AM
Submitted by Thomas Kolbe
The Chancellor seems to have collided with reality during the summer break. Merz sees the German social system in deep crisis. Meanwhile, his political allies in Brussels are calling for an increase in the very dose of poison that is making Europe sick.
Let’s be blunt: Large parts of the political elite have a fractured relationship with reality. This applies equally to the economic decay of Germany and the EU, as well as to the public communication of strategic political goals, which are systematically obscured. Open criticism of the course could cause the political fairy tale to collapse faster than reality seeps into public opinion.
Merz and the Welfare State
All the more remarkable are the warning words of Chancellor Friedrich Merz during his Saturday appearance at the CDU state party conference in Lower Saxony. “I am not satisfied with what we have achieved so far – it must be more, it must be better.”
Hear that! A faint tremor of self-criticism from the Chancellor. Rare, indeed. Yet the statement raises the question: what exactly does Merz mean by “achievements”? Is he referring to the so-called investment booster, supposedly providing marginal relief to the German economy while it teeters on collapse? Or does he mean the massive debt packages and widening financing gaps, most likely to be closed with tax hikes?
In his speech in Osnabrück, Merz later spoke unusually clearly about the state of the welfare system: “The welfare state, as we have it today, is no longer financially sustainable given what we can deliver economically.” A blunt diagnosis, leaving little to be desired in clarity.
There was, however, no mention of a market-oriented turn, trust in individual solutions, personal responsibility, or rapid bureaucratic reduction. The message seems to be: stay the course.
Moments of Honesty
Merz also spoke unequivocally about citizen welfare payments: it cannot continue like this. 5.6 million people receive the payments. Many could work but do not, he said. A reality that politics usually avoids.
A tentative attempt to openly name the precarious state of German social insurance. In times when political sugar-coating is routine, it’s almost a stroke of luck when a leading politician at least partially acknowledges economic realities.
Have the latest economic data perhaps shaken Merz and his colleagues in Berlin? GDP shrank again in the second quarter, and the outlook remains bleak. With the state intervening via massive credit programs and new debt hitting about 3.5% this year, the private economy is contracting at 4–5%. Calling this a recession would be euphemistic — we are in a depression.
More EU Centralism
While the Chancellor stumbled through Germany’s harsh economic reality, EU representatives launched media trial balloons.
It was Mario Draghi, the EU’s political all-rounder, who easily alternates between former Italian PM and ECB chief, presenting yet another report.
He reiterated his familiar demand: the European Union must act more cohesively, like a single state, if it wants to retain a geopolitical role.
More of the medicine that made Europe sick: more centralization, less subsidiarity, and intensified technocratic rule. Draghi once again demonstrates Brussels’ plan — as during the sovereign debt crisis 15 years ago: power concentrated in Brussels, decisions outside democratic control, enforced by a political apparatus orchestrating media narratives. Strict censorship, media manipulation — dirty tools to silence opposition to centralization. The same authoritarian logic that worked then is being revived.
Lagarde and Migration
Draghi’s ally, ECB President Christine Lagarde, also hit the media circuit. She touched on migration, a topic skillfully avoided or distorted in German politics and media.
Lagarde floated a trial balloon at the Federal Reserve meeting in Jackson Hole, subtly testing Europe’s mood. According to her, Europe could no longer grow without massive migration (of which growth exactly?). She claimed Germany’s GDP would be roughly six percent lower today than in 2019 without foreign workers.
That the country has been in a depression for some time seems not to have reached the ECB leadership. Then came the familiar trump card: without migration, the labor shortage cannot be addressed. No mention of technological advances via AI or robotics, which could offset labor shortages. No mention of migration as a security risk, of cultural conflicts, or a political Islam incompatible with European values.
Lagarde’s stance was particularly striking as the U.S. begins repatriating illegal migrants, ending the Europeanization of American policy. Her speech in the land of rational awakening and political turnaround likely caused nothing but raised eyebrows.
Jackson Hole highlighted the EU’s trajectory: open borders, elites ignoring risks, while the left expands its voter base at Europe’s cultural and economic expense.
Bitter Balance
Combine the three events — Merz’s speech, Lagarde in Jackson Hole, and Draghi’s latest report — and the conclusion is alarming: the economy is accelerating toward collapse due to a self-inflicted energy crisis and overregulation. Social funds, strained by mass illegal migration, risk implosion. The proposed solution? Centralization, regulation, and continued unchecked migration.
Even Finance Minister Lars Klingbeil’s usual tax hike debates fit seamlessly: the individual counts for nothing, the state controls everything, increasingly burdening citizens. The audacity to attack private property and raise taxes further is staggering, meeting little resistance. The Merz CDU has become a paper-thin bourgeois protective wall of hot air.
END
GERMANY
German Union Demands Climate Policy U-Turn
Wednesday, Sep 03, 2025 – 05:00 AM
Submitted by Thomas Kolbe
For far too long, entrepreneurs and employee representatives have silently accepted the ecological crash course of politics. Now, the chemical union IG BCE is demanding a shift in climate policy. Slowly, the penny seems to be dropping.
A storm is brewing in Berlin. The faint rumble that barely drew attention weeks ago has now grown into unmistakable thunderclaps: After Mercedes CEO Ola Källenius sent an urgent letter to the Chancellor calling for a return to reality and a rethink of strict CO₂ targets, the chemical union IG BCE has voiced sharp criticism. Their message to policymakers is clear: the destructive climate policies from Brussels and Berlin are pushing industry to the brink of collapse.
End of the German Special Path
The IG BCE calls for abandoning Germany’s national goal of climate neutrality by 2045. Union leader Michael Vassiliadis emphasized that many companies are fighting for survival. 40,000 jobs are at risk, and 12,000 employees are already on short-time work. Regarding climate targets, even aligning with the EU goal by extending the deadline five years to 2050 could help—but even that is not enough, says Vassiliadis, speaking for 570,000 members. Many companies need immediate support; otherwise, stagnation and job losses are inevitable.
The union is particularly critical of CO₂ pricing. This instrument doesn’t work as intended—it kills businesses, Vassiliadis says. And nowhere else in the world is it applied as harshly as in Germany. While Asia and the U.S. ignore European guidelines, German companies face massive competitive disadvantages. Technologies, infrastructure, and energy sources for climate-neutral production at reasonable costs simply do not exist.
Germany’s “special path” keeps standing out. In the land of devout climate activists, the aim is to set a good example. Realism, global perspectives, and climate facts are ridiculed and dismissed as much as possible by climate proselytes in the media, NGOs, and politics.
The Consequences Are Real
The hardest hit are energy-intensive sectors—chemicals, plastics, rubber, glass, paper. Production is falling everywhere; entire value chains are disappearing. Vassiliadis’ words send a clear signal: even in traditionally SPD-aligned unions, long conditioned to ecological orthodoxy, open resistance to green climate policy is growing.
The Dam Has Broken
The dam seems broken; the vow of silence by business and unions has ended. The crisis of the German economy—now in its third year of recession—cannot be ignored. The country has become a location from which capital flees rather than settles. Last year alone, €64.5 billion in net direct investment was withdrawn. These are real investments that create jobs and secure the future.
Across party lines, ecological zeal has caused irreparable social damage. Since 2019, some 250,000 industrial jobs have been lost; in Q2 2025, industrial employment fell 2.1 percent, about 4.3 percent over six years. Currently, 5.43 million people still work in industry, but they sit on a melting iceberg—over 100,000 positions vanished in 2024, including 45,400 in the automotive sector.
Construction is also in retreat: bankruptcies rose 17 percent last year—high interest rates, declining orders, and Kafkaesque bureaucracy paralyze investors and builders.
Industry Raises Sails
Chemical and steel production, among others, have dropped over 15 percent since pre-COVID times—Germany’s economic decline is absolute, accelerating, and eroding the foundations of society.
Depression, Not Recession
The numbers describe an economic depression. Calling it a recession would be euphemistic, masking the damage green fanaticism and unbridled regulation have caused. The state has been captured by green-socialist ideologues, turning it into a weapon against the heart of the German economy.
It is regrettable that it took so long for leading economic figures to oppose this destructive course, fulfilling their civil responsibility. The elite has so far failed to meet its rightful high standards. Respect is due to Källenius and Vassiliadis, who now stand against the powerful climate lobby and must hope for allies.
Dealing With the New Command Economy
Germany—and by extension all EU states—will soon be forced by economic realities to a regulatory pivot: Brussels and national planners are running out of money for further experiments. The same will soon affect the defense industry.
The Argentine model seems paradigmatic: bureaucracy and regulation must be compressed with a shock moment. “Economy before politics” must prevail; all attacks on private wealth and economic freedom—minimum wages, rent caps, heat pump mandates, or the combustion engine ban—must be buried in the swamp of socialist experiments.
That the IG Metall seems ready to convert struggling civilian production into a wartime economy with state aid would be a step from the frying pan into the fire.
We need consensus that state-managed economies fail and cannot work. Agreement is essential to politically and narratively break Brussels’ front.
Brussels in Heavy Turbulence
Green transformation and the attempted European wartime economy must be understood together. The political aim is to revive idle industrial capacity, control basic industry and energy sectors, and establish a green-socialist command economy. Power is prioritized over societal prosperity and individual freedom—a Brussels minor key.
But the Eurocrats’ score ends abruptly. Public debt, permanent recession, job losses, and growing criticism of Brussels’ ideological course threaten the centralization project. German criticism cannot be ignored; international business representatives will join German “strikebreakers.” The clock is ticking for Brussels.
President Ursula von der Leyen and her EU Commission face a multi-front battle, with the U.S. increasing pressure on Brussels’ regulatory and censorship policies. The coming weeks will be challenging.
Possibly, the last week of August 2025 marks a groundbreaking wake-up call from the German economic elite, finally stirring the sluggish Berlin coalition. Anything less than a complete break with planned climate policy signals either political incapacity or unwillingness to reform. Given deep entanglements with the climate complex, a hard clash between ideology and civil society seems inevitable.
END
GERMANY
in utter chaos!!
German Elections Thrown Into ‘Immense Chaos’ After Wave Of AfD Deaths Rises To Seven
Wednesday, Sep 03, 2025 – 11:00 AM
German elections in the western state of North Rhine-Westphalia have been thrown into chaos ahead of a Sept. 14 election – after a spate of candidates for Germany’s right-wing AfD have died in recent weeks – with the total now at seven. And while local authorities say there is no evidence of foul play, officials are now scrambling to shred and reprint ballots as campaigns for the deceased have been suspended.
According to Welt, Hans-Joachim Kind, 80, a direct candidate in the Kremenholl district, died of natural causes. There has been no cause of death disclosed for four other candidates in the region that has a population of 18 million – as police told Germany’s DPA news agency that the initial four were either from natural causes, or were not being divulged for over privacy concerns.
Two reserve candidates died following the initial four, followed by the death of Kind. The reserve candidates were René Herford, who had a pre-existing liver condition and died of kidney failure, and Patrick Tietze, who committed suicide.
Now, ballots must be reprinted and successors appointed, causing what WELT described as “immense chaos.”
AfD co-leader Alice Weidel reposted a claim by retired economist Stefan Homburg that the number of candidates’ deaths was “statistically almost impossible.”
h
AfD deputy state chairman in North Rhine-Westphalia, Kay Gottschalk, told WELT, that “We will, of course, investigate these cases with the necessary sensitivity and care,” however there is “no indication” that this is “murder or anything similar,” as some of the deceased had “pre-existing medical conditions.”
The party – which Germany’s domestic spy agency classified as a ‘right-wing extremist organization’ in May, grew to Germany’s second-largest in February’s federal elections, before pausing that description due to an appeal pending in court.
In 2022, AfD polled at just 5.4% in a region that’s home to Germany’s industrial base in the Ruhr valley – and which has suffered steep job losses. Now, the party polled at 16.8% in state federal elections last February, while more recent polls suggest the party could nearly match that today.
“Either Germany votes AfD, or it is the end of Germany,” said tech billionaire Elon Musk, who threw his support behind AfD in recent days.
5. RUSSIA AND MIDDLE EASTERN AFFAIRS
ISRAEL /GAZA/HEZBOLLAH/IRAN/SUMMARY OF THE LAST 24 HR/TBN
ISRAEL VS HAMAS
IDF kills terrorist who held three female hostages, Katz says Houthi leadership is fleeing Sanaa
Netanyahu addresses IDF troop deployment • Military reveals only 240 haredi men draft to IDF • Hostage families urge Trump to seal Gaza deal • Rubio to visit Israel in two weeks
An illustrative photo of Hamas terrorists with hostage demonstrations in the background.(photo credit: MENAHEM KAHANA/AFP via Getty Images, Reuters/Hatem Khaled)
IDF kills head of Mujahideen terror group in Gaza, which held Bibas family hostage
The terrorist Musbah Salim Musbah Dayyah, who served as the head of the Mujahideen terrorist organization, was killed during an airstrike in the Gaza Strip.
IDF soldiers operating in the Gaza Strip, August 1, 2025.(photo credit: IDF SPOKESPERSON’S UNIT)ByJERUSALEM POST STAFFSEPTEMBER 3, 2025 08:20Updated: SEPTEMBER 3, 2025 08:52
Musbah Salim Musbah Dayyah, the head of the Mujahideen terrorist group that held the Bibas family hostage, was killed in a joint strike by the IDF and Shin Bet (Israel Security Agency), the military confirmed on Wednesday.
Dayyah was the fourth leader of his operation to be eliminated in Gaza, with him having a role in organizing terror attacks both in Gaza and in the West Bank.
The IDF stated that Mujahideen terrorists took “a significant part in the brutal October 7 massacre,” including abduction and murder.
Dayyah was operating in the Nuseirat area before being killed. He was the third such leader of the terror group after the three previous leaders were killed by the IDF in the past few months.
Kataib al-Mujahideen (Holy Warriors Brigades) is the armed wing of the Palestinian Mujahideen Movement and one of the organizations that invaded Israel during the October 7 massacre.
Terror group responsible abduction, murder, of several hostages
They were responsible for the abduction and murder of Shiri Bibas and her children, Kfir and Ariel, as well as the killing of Israeli-American-Canadian couple Judy Weinstein Haggai and Gad Haggai, and Thai workers.
The IDF had already killed Kataib al-Mujahideen’s military wing commander, Mahmoud Muhammad Hamid Kuhail, also known as Abu al-Mu’tasim, as well as As’ad Abu Sharaiya, head of the terrorist organization, in an airstrike on the Gaza Strip, in strikes at the beginning of June.
Security sources describe Kataib al-Mujahideen as relatively small but highly lethal and compartmentalized, which has allowed it to operate under the radar of the IDF and evade intelligence monitoring.
The group was established during the Second Intifada by senior terrorists who split from Fatah’s al-Aqsa Martyrs’ Brigades and adopted a more radical Salafi ideology. Its first commander, Omar Abu Sharaiya, was eliminated in an IDF targeted killing in 2006, after which his family took over leadership.
ISRAEL
Netanyahu Mulls Annexation In West Bank As Retribution For Europe’s Growing Anti-Israel Stance
Tuesday, Sep 02, 2025 – 08:00 PM
Belgium this week became the latest European country to announce it will recognize a state of Palestine at the upcoming UN General Assembly meeting in New York later this month. Norway, Ireland and Spain have recently done so, while France, Britain, and also Canada have lately declared their intent to formally do so at the summit.
Prime Minister Benjamin Netanyahu is apparently mulling major ‘payback’ on an international stage, as several Israeli media reports say he will gather top ministers for a discussion on the implications of international recognition of a Palestinian state on Thursday. He is reportedly mulling extending Israeli sovereignty over at least some of the West Bank.
Times of Israel is among those outlets framing this as retribution for the growing movement to recognize Palestine. “The small forum will also examine a range of possible responses to the expected wave of Western recognition at the UN later this month, including applying sovereignty over parts of the West Bank,” the Tuesday report says.
“Netanyahu will be joined by Defense Minister Israel Katz, Foreign Minister Gideon Sa’ar, Justice Minister Yariv Levin, National Security Minister Itamar Ben Gvir, and Finance Minister Bezalel Smotrich,” adds the report.
And Jerusalem Post separately reports that “Several Israeli officials previously reported that Israel is considering annexation in the West Bank as a possible response to France and other countries recognizing a Palestinian state.”
This could include recognition over all places where there are currently Jewish settlements, or areas like the Jordan Valley – which has long been sought by Israeli hardline nationalists.
Given past policies of the Trump administration, there’s a likelihood that the White House would go along with this – despite that it would contradict long-standing Washington policy. Probably President Trump would feign reluctance or anguish over such a move, but would in reality be accepting of it.
The US surely knows this is an ‘option’ being intensely considered by the Netanyahu government.
Local reports have hinted at this too: “Walla reported on Sunday that Foreign Minister Gideon Sa’ar and US Secretary of State Marco Rubio discussed the topic of West Bank sovereignty during his visit to Washington last week,” JPost writes.
As for the international move to recognize a state of Palestine – this is purely symbolic and in reality completely unenforceable on the ground, no matter which Western government backs it. Even some Progressive commentators have pointed out it does nothing to improve the plight of Palestinians, and that other specific pressing issues must be dealt with first.
Already, Israeli authorities, through a system of roadblocks, checkpoints, and land seizures – have effectively chopped up the West Bank and made it almost impossible to function as a unified entity, even economically. This issue would have to be addressed and reversed first on a practical level. While Western nations are offering symbolic ‘recognition’ – an Israeli move to annex the West Bank would not be symbolic, but it would be brutal, real, and probably swift.
END
ISRAEL
Israel Katz warns Ofek 19 satellite will ‘keep an eye on Israel’s enemies at all times’
This satellite was crucial during Israel’s war with Iran, with the Defense Ministry explaining how it managed to take almost 12,000 satellite images of Iranian territory.
Ofek 19 satellite launched by Israel.(photo credit: Kobi Richter)ByJERUSALEM POST STAFFSEPTEMBER 3, 2025 10:52
Defense Minister Israel Katz said on Wednesday that the newly launched Ofek 19 satellite will allow the country to “keep an eye on our enemies at all times.”
In his statement, Katz warned, “This is also a message to all our enemies, wherever they may be – we are keeping an eye on you at all times and in every situation.”
“And in general, a message to the region: come collaborate with these capabilities for a better shared future for all of us.”
Katz also congratulated those who worked on the launch, calling it an “achievement of the highest level that few countries in the world can accomplish.”
“I salute the aerospace industry, the Defense Ministry, the IDF, and everyone who took part in the development,” the statement added.
This is the second launch of an Ofek series satellite by Israel, following the previous one, Ofek 13, which became operational in March 2023.
What are Ofek 19’s capabilities?
This satellite was crucial during Israel’s war with Iran, with the Defense Ministry explaining how it managed to take almost 12,000 satellite images of Iranian territory.
This allowed Israel to have almost a real-time view of what was happening in Iran, shortening reaction time for missile launch detection and guiding air strike operations done over the Islamic Republic’s approximately 1.6 million square kilometers of territory.
Before Ofek 13, Israel launched Ofek 16 in July 2020, marking the continuation of this series of satellites, which began with the project in 1988. All current launches were made with the Israeli-developed Shavit 2 satellite launcher.
Yonah Jeremy Bob contributed to this report.
END
ISRAEL HAMAS/USA
Trump: ‘IMMEDIATELY give back all 20 hostages’
Trump on Truth Social demanded Hamas release “ALL 20 hostages,” warning, “Not 2 or 5 or 7! If they do, things will change rapidly… IT WILL END!”
US President Donald Trump speaks with reporters as he departs for travel to Pennsylvania from the South Lawn at the White House in Washington, July 15, 2025; illustrative.(photo credit: REUTERS/JONATHAN ERNST/FILE PHOTO)ByJERUSALEM POST STAFFSEPTEMBER 3, 2025 18:30Updated: SEPTEMBER 3, 2025 19:05
US President Donald Trump called for Hamas to “IMMEDIATELY give back all 20 hostages” in a Wednesday post on Truth Social.
“Not 2 or 5 or 7!” he added.
If Hamas does this, then “things will change rapidly,” he added, concluding, “IT WILL END!”
Trump notably only referred to the 20 hostages presumed to be alive, rather than the total 48 hostages held in captivity.
Trump, on August 22, said there are “probably” fewer than 20 hostages left alive.
US opposes partial deal, Netanyahu claims
Prime Minister Benjamin Netanyahu told the security cabinet that the US administration also opposes a partial deal in a meeting on Sunday night.
“Forget the partial deals. Go in with full force. Finish it,” Netanyahu quoted Trump as saying, adding that Israel’s window of legitimacy from the international community is limited, and that pausing for a partial deal would harm the effort to destroy Hamas.
“Our impression is that Netanyahu’s opposition is genuine. He will not agree to a partial deal,” ministers said.
Families of hostages held in Gaza set up a visual protest outside the United States Embassy branch in Tel Aviv on Tuesday, calling on Trump to use American leverage to finalize a deal that would bring the hostages home and end the war.
The families arranged a display that included a large table with a mock “Hostage Return Agreement,” a symbolic Nobel Peace Prize certificate, and oversized coins with Trump’s face. The setup was designed to resemble a signing ceremony, underscoring what they described as a “historic opportunity” for the US president.
Amichai Stein and Joanie Margulies contributed to this report.
END
ISRAEL /LEBANON’USA
‘Trump Zone’ Would See South Lebanon Depopulated For Qatari, Saudi-Bankrolled Projects
Tuesday, Sep 02, 2025 – 10:55 PM
Authored by Jason Ditz via AntiWar.com,
The more information we get about the “Trump economic zone” proposal in southern Lebanon, the worse it seems for the people who live there. The latest reports reveal the plan to totally depopulate the south of the country, to place the whole area under US military control, and to grant Israel to right to build “permanent” bases in what are currently Lebanese towns and villages.
The plan first appeared a little over a week ago, with the US presenting it as their proposal while Israel maintains they came up with the idea. The broad strokes are that it is meant to replace border villages with Lebanese government-run industrial zones.
But the plan would involve no less than 27 villages being depopulated, spanning the Israel-Lebanon border from Naqoura to Marjayoun. Among those, Israel is demanding it be granted permission to construct permanent military sites within 14 of the former villages.
The plan would involve the absolute destruction of Odaisseh, Kfar Kela, Houla, Markaba, and Ayta al-Shaab. Israel wants rights to occupy those militarily as well as Khiam, Ramiya, Yaroun, Aitaroun, Alma al-Shaab, Al-Dhayra, Marwahin, Maroun El-Ras, and Blida.
Underpinning the plan would be 1,500 to 2,000 US troops occupying the Trump Zone, which will be meant to “assure” Israeli settlers in northern Israel.
It is unclear from the reports if these will be US military personnel or simply American military contractors. Either way though, Lebanon would be ceding all sovereign authority over the south of their country.
The economic aspect of the zone is to create state-run industry in the south, which US officials have suggested would provide jobs even though nobody would be allowed to live there anyway. They have tapped Saudi Arabia and Qatar to bankroll this scheme.
Though presented as mainly about harming Hezbollah, the Trump Zone is depopulating not just Shi’ite villages, but also Sunni towns in the west like al-Bustan and even Christian-heavy towns like Rmesh. Lebanon is known being split among Sunni, Shi’ite and Christian populations, and none of them are spared in this plan.
ISRAEL/HOUTHIS
‘Remnants of Houthi leadership’ are fleeing Sanaa, abandoning residents, Katz says
Several senior Houthi leaders have reportedly fled Sanaa towards fortified hideouts in Saada, Amran, and other areas under Houthi control due to fears of further Israeli airstrikes.
Mourners attend the funeral procession of Houthi government officials killed in an Israeli strike, in Sanaa, Yemen September 1, 2025.(photo credit: REUTERS/Khaled Abdullah)ByJERUSALEM POST STAFFSEPTEMBER 2, 2025 21:34Updated: SEPTEMBER 2, 2025 22:49
Defense Minister Israel Katz on Tuesday said that “the remnants of Houthi leadership” are fleeing Sanaa in Yemen.
“Like all the leaders of radical Islamist terror, they look after themselves and abandon residents,” the defense minister stated.
Katz added that this was how Hamas leaders behaved in Gaza and “in the luxury hotels of Qatar,” and “this is how the Houthis act in Yemen.”
“We knew how to hunt them down this time, and we will know how to do so in the future as well.”
Houthi leaders flee Sanaa
Earlier on Tuesday, Saudi-owned, London-based outlet Asharq al-Awsat reported that several senior Houthi leaders have fled Sanaa towards fortified hideouts in Saada, Amran, and other areas under Houthi control.
High-ranking Houthi officials, including Mohammed Ali al-Houthi, a member of the group’s ruling council; Abdul Karim al-Houthi, the terror group’s interior minister; Abu Ali al-Hakim, the newly appointed head of Houthi intelligence; and Ahmed Hamed, another member of the ruling council, have disappeared from Sanaa in recent days, sources confirmed to Asharq al-Awsat.
Buses were seen transporting the families of group leaders towards Amran and Saada, sources told Asharq, saying that the terror group is aware that its leaders are direct targets for Israeli airstrikes.
According to the report, Houthi leaders and commanders were instructed not to use government buildings or gather in public places.
END
IRAN
RUSSIA VS INDIA
Lavrov Praises India For Not Caving To US Tariffs Pressure
Wednesday, Sep 03, 2025 – 02:20 PM
Moscow appreciates that India, among the largest economies on the planet, has not given in to US demands to stop purchasing its oil and other products, according to fresh remarks from Russian Foreign Minister Sergey Lavrov.
After the close of the Shanghai Cooperation Organization (SCO), he told Indonesian newspaper Kompas on Tuesday that India has successfully stood up for the principles of free trade. “US President Donald Trump, as everyone knows, not only threatened to introduce higher import tariffs on products from a number of Russia’s trading partners,” Lavrov said, as cited also in Russian media.
“Such tariffs have already been introduced, for example, against India – our particularly privileged strategic partner, a major consumer of Russian goods, in particular, hydrocarbon raw materials,” the top Russian diplomat explained.
“We appreciate the fact that New Delhi did not bend under pressure and remains committed to the principles of free trade,” Lavrov continued. “The principles that the Americans have extolled for so many years, if not decades, and now the Americans have betrayed these principles.”
In his recent meeting with Indian Foreign Minister S. Jaishankar, Lavrov told his counterpart, “This is a multipolar system of international relations with an increasing role played by SCO, BRICS and G20.”
Trump-imposed tariffs of 50% on Indian goods, which includes a 25% penalty tied to India’s continued purchases of Russian oil, came into effect last week. Interestingly, Russian President Putin addressed the disagreement while in Beijing:
Putin, addressing the press at Beijing’s Diaoyutai State Guesthouse, cautioned against any nation trying to “dominate” global politics or security, even as he acknowledged the rise of “economic giants” such as India and China.
“From an international law point of view, everyone must have equal rights, and must be in a similar position,” Putin declared, stressing the need for balance in international relations.
He noted that large countries like India and China have unique political systems and domestic laws, warning that attempts to “punish” them place their leaders in a difficult bind. “If one of them shows weakness, his political career will be over,” Putin said.
Speaking of history, he reminded the West of its colonial past. “Countries have had difficult periods in their history, such as colonialism, attacks on sovereignty for prolonged periods of time. Now that the colonial era is over, they have to realize that they cannot use this tone in speaking with their partners,” he said.
The resulting ongoing tensions over Russian oil have pushed Delhi-Washington relations to a historic low-point.
Putin calls out US bullying and ‘colonial’ mentality policies…
“India buys most of its oil and military products from Russia, very little from the US,” Trump recently wrote on Truth Social, adding Delhi should have cut tariffs “years ago”.
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUES
GLOBAL ISSUES
These Are The Countries With The Largest Muslim Populations
Wednesday, Sep 03, 2025 – 02:45 AM
Islam is the world’s second-largest relgion and 1.8 billion Muslims are spread across every continent.
The visualization below, via Visual Capitalist’s Pallavi Rao, ranks each country by the number of adherents, along with their share in the population revealing where Muslim communities are largest.
The data for this visualization comes from two complementary sources: Pew Research, which tracks global religious affiliation, and the CIA World Factbook, which publishes the latest national demographic splits.
Due to data restrains, the most recent figures between 2020–2023 have been used, depending on availability per country.
Ranked: Countries With the Most Muslims
Indonesia (242 million), Pakistan (235 million), India (213 million), and Bangladesh (150 million) alone account for nearly 40% of the world’s Muslims.
Each of these densely populated nations has seen steady population growth over the past two decades, and fertility rates in Pakistan and Bangladesh remain above the global average.
Together, they underscore the demographic weight of South and Southeast Asia, regions sometimes overlooked when the focus is on the Middle East.
| Rank | Country | # of Muslims | Share of Population |
|---|---|---|---|
| 1 | 🇮🇩 Indonesia | 242M | 87.0% |
| 2 | 🇵🇰 Pakistan | 235M | 96.3% |
| 3 | 🇮🇳 India | 213M | 15.3% |
| 4 | 🇧🇩 Bangladesh | 150M | 91.0% |
| 5 | 🇳🇬 Nigeria | 124M | 53.5% |
| 6 | 🇪🇬 Egypt | 104M | 95.0% |
| 7 | 🇮🇷 Iran | 88M | 99.8% |
| 8 | 🇹🇷 Turkey | 84M | 97.0% |
| 9 | 🇸🇩 Sudan | 46M | 99.0% |
| 10 | 🇩🇿 Algeria | 43M | 98.0% |
| 11 | 🇪🇹 Ethiopia | 37M | 31.3% |
| 12 | 🇮🇶 Iraq | 40M | 98.0% |
| 13 | 🇦🇫 Afghanistan | 39M | 99.7% |
| 14 | 🇲🇦 Morocco | 37M | 99.0% |
| 15 | 🇾🇪 Yemen | 31M | 99.1% |
| 16 | 🇺🇿 Uzbekistan | 28M | 88.0% |
| 17 | 🇸🇦 Saudi Arabia | 29M | 92.7% |
| 18 | 🇨🇳 China | 25M | 1.4% |
| 19 | 🇳🇪 Niger | 25M | 99.3% |
| 20 | 🇲🇾 Malaysia | 21M | 63.5% |
| 21 | 🇲🇱 Mali | 20M | 93.9% |
| 22 | 🇸🇾 Syria | 20M | 87.0% |
| 23 | 🇹🇿 Tanzania | 22M | 34.1% |
| 24 | 🇸🇴 Somalia | 13M | 99.8% |
The presence of Malaysia and Uzbekistan in the top 20 further highlights Asia’s central role in shaping global Muslim demographics.
Muslim-Majority and Muslim-Plurality States in Africa
Meanwhile, Africa is home to some of the fastest-growing Muslim populations.
Nigeria, already the continent’s most populous country, now counts more than 124 million Muslims, over half its citizens.
In North Africa, Egypt and Algeria each report that roughly 95-98% of their inhabitants identify as Muslim, reflecting centuries-old cultural and religious continuity.
Across the Sahel, countries like Niger and Mali post near-complete Muslim majorities, even as they grapple with rapid urbanization and climate pressures that influence migration patterns.
Minorities in Demographic Giants: India and China
While India’s 213 million Muslims comprise only 15% of its population, that minority is larger than the total populations of most countries.
China’s Muslim share is just 1.4%, yet the absolute number—25 million—is comparable to the entire population of Australia.
These examples illustrate how sheer population size can translate even small percentages into tens of millions of adherents.
Demographers expect India’s Muslim community to surpass Indonesia’s by mid-century if current fertility differentials persist, potentially redrawing the global ranking.
If you enjoyed today’s post, check out America’s Religious Landscape on Voronoi, the new app from Visual Capitalist.
END
ROBERT h
Michael Hudson: Eurasian World Order – New Global Governance – Global South
One might to take time to read this carefully.
We are in the midst of a global shift not just of hegemonic power but of true power which lies in trade and commerce.
Real power comes from trade, not muscle. It is trade that governs the degree of citizen wealth and national sovereignty. The broad spectrum of wealth distribution within a society leads to National prosperity. A shrinking middle class is not a sign of prosperity.
The future of prosperity lies in the continued growth and development of expanding trade to drive everything from social programs to education. The lack thereof has the opposite effect.
Today, the West is locked into a dysfunctional pattern of contracted capitalism where growth across a broad spectrum of nations is not possible. The narrowness of foreign policy while simultaneously being popular perhaps actually contracts the future spending power. In America tariffs offer short term gain while mortgaging the future breath and scope of trade. Today, already airlines from Canada to Germany to Iceland are curtailing flights to the US. The $99 flight from Iceland to New York is no more. This has a real impact. Just like no soybeans to China. The tariffs on coffee from Brazil were shunned as China quickly reacted and approved 13 Brazilian Exporters steering the coffee away from America. Coffee prices will rise in America at the expense of limited American wallets. On the other hand the curtailing of oil supply from Iraq and Saudi Arabia to India is actually a win for India who will buy more Russian oil and a win for the West as this oil will go at lower prices to the West. With the losers being Saudi Arabia and Iraq who will receive a lesser price to sell this oil.
These shifting patterns of trade will drive everything from trade itself to currencies to product availability as producers/exporters rethink markets. The real question is how we all adapt to the changes occurring in real time, as the ship has sailed with all on board.
https://globalsouth.co/2025/09/02/michael-hudson-eurasian-world-order-new-global-governance/
END
FLORIDA TO END ALL VACCINE MANDATES//EXCELLENT NEWS
Florida To End All Vaccine Mandates
Wednesday, Sep 03, 2025 – 03:40 PM
Authored by T.J. Muscaro via The Epoch Times (emphasis ours),
Florida’s surgeon general, Dr. Joseph Ladapo, announced on Sept. 3 that he was working to eliminate all vaccine mandates from state law.
“The Florida Department of Health, in partnership with the governor, is going to be working to end all vaccine mandates in Florida law,” he said at a press conference. “All of them.”
“Every last one is wrong and drips with disdain and slavery,” Ladapo said.
“Who am I, as a government, or anyone else, or who am I as a man standing here now to tell you what you should put in your body? Who am I to tell you what your child should put in their body?
“I don’t have that right. Your body is a gift from God. What you put into your body is because of your relationship with your Body and your God.”
The surgeon general reiterated that neither he nor the government had the right to force vaccines upon people and urged those listening to take that power away from the government and make their own informed decisions.
He then said that the Florida Department of Health was able to start the process by striking down rules established by his predecessors that mandated several vaccines, and then his department would work with Florida Gov. Ron DeSantis and the state’s lawmakers to eliminate the rest of the mandates.
“We need to end it,” he said. ”It’s the right thing to do, and it’ll be wonderful for Florida to be the first state to do it.”
Ladapo made his announcement as Florida Gov. Ron DeSantis announced the creation of the state’s Make America Healthy Again (MAHA) Commission and Medical Freedom Protections.
The commission will be chaired by his wife, Casey DeSantis.
MARK CRISPIN MILLER
In memory of those who “died suddenly” in the United States and worldwide, August 25-September 1, 2025
Reality star Kelsey Bateman (39); filmmaker Scott Spiegel (Evil Dead 2); actor Randy Boone (The Virginian); baseballer Randy Moffitt; TikToker Natasha Allen (28, C); journo Mark Knoller; & more
| Mark Crispin MillerSep 3 |
A survey of the likely global toll of COVID “vaccination,” based on the reports collected by our worldwide team of researchers this past week.
To help support our work, consider subscribing or making a donation.
UNITED STATES (101)
‘Rock of Love’ Kelsey Bateman Dead at 39, Starred on Season 3 of Reality Show
August 31, 2025
Kelsey Bateman – a contestant on Bret Michaels’ reality show ‘Rock of Love’ – has died, TMZ has learned. A family sources tells us Kelsey passed away unexpectedly recently – though it’s unclear at this time exactly what caused her untimely death. We’ve reached out to local authorities for more information. Kelsey starred in the third and final season of the show – titled “Rock of Love Bus with Bret Michaels” – on which the ladies lived on tour buses and traveled with Michaels. Bret said he felt Kelsey’s actions showed she simply wasn’t making smart decision for herself before sending her back to Salt Lake City, Utah. Bateman was 39.
‘Evil Dead 2’ Writer, ‘Intruder’ Director Scott Spiegel Has Passed Away
September 1, 2025
Scott Spiegel [right, with Sam Raimi], who co-wrote Evil Dead 2 with frequent collaborator Sam Raimi, has reportedly passed away at the age of 67. Spiegel met Raimi and Bruce Campbell in junior high and went on to play the role of Scotty in Within the Woods, which served as a precursor to The Evil Dead. Spiegel would pop up in cameos in several of Raimi’s later efforts, including Darkman, The Quick and the Dead, Spider-Man, and Doctor Strange in the Multiverse of Madness. Spiegel also executive produced the Hostel franchise, co-wrote Clint Eastwood‘s The Rookie, produced 2001 Maniacs, and introduced Quentin Tarantino to producer Lawrence Bender, who helped get Reservoir Dogs made.
No cause of death reported.
‘The Virginian’ Star Dies at 83
August 31, 2025
Randy Boone, who played the singing and guitar-playing rancher on long-running NBC Western series The Virginian, has died at the age of 83, according to The Hollywood Reporter. His wife Lana Boone told THR that he died on Thursday, August 28. No other details were given.
No cause of death reported.
Randy Moffitt, longtime Giants reliever and brother of tennis icon Billie Jean King, dead at 76
August 29, 2025
Randy Moffitt, the younger brother of tennis icon Billie Jean King and a former reliever for 12 seasons, died Thursday in Long Beach, Calif., following an extended illness, according to the Associated Press. He was 76.
No cause of death reported.
Worcester State hockey team mourn Evan Armit
August 31, 2025
Worcester State men’s hockey player Armit dies at 23 following battle with metastatic melanoma, ‘his spirit left a lasting impression on all who knew him’ A two-year member of the Lancers, Armit was pursuing a degree in Business Administration. Beyond the rink, he was known for his strong work ethic, generosity, and character. Friends, teammates, and coaches remember him as a leader both on and off the ice—someone who always put others before himself.
Researcher’s Note - Massachusetts state universities mandate COVID-19 vaccinations [sic] for students: Link
New York Native, NASCAR Pit Crew Veteran, Passes Away Unexpectedly
August 27, 2025
New York has lost a rising star in the NASCAR world. Zachary Yager, a native of Rochester [NY], passed away at just 34, leaving behind a legacy as one of the sport’s most versatile and respected pit crew members. Yager’s passing came unexpectedly, and the details are still unknown. His family shared that he had been missing since August 18.
No cause of death reported.
TikTok Star Natasha Allen Dead At 28 After Sharing Stage 4 Cancer Diagnosis
August 27, 2025
TikTok star Natasha Allen, who chronicled her journey with stage 4 cancer, has died, per PEOPLE. She was 28. Allen’s death was announced on her official TikTok and Instagram accounts on Friday (August 22). Allen, who boasted over 190,000 TikTok followers and 36,000 on Instagram, opened up on social media about having stage 4 synovial sarcoma, a rare and aggressive form of cancer. The TikTok star was first diagnosed with cancer in 2020 after doctors discovered a malignant tumor in her knee. After a period of remission, her cancer returned and advanced to stage 4, spreading to her lungs and later other parts of her body. “Officially, I have a 15 percent chance of being alive for five years after being diagnosed with stage 4. Me, however, I’m gonna be different. I’m putting that out in the universe,” Allen said in an April 2024 TikTok video.
10 journalists “died suddenly”:
CBS News’ Mark Knoller, veteran White House correspondent, dies at 73
August 31, 2025
Mark Knoller, a longtime White House correspondent for CBS News, has died, according to the network. He was 73. A cause of death was was not disclosed, but he had reportedly suffered from diabetes and was in poor health. “Mark Knoller was the hardest-working and most prolific White House correspondent of a generation,” Tom Cibrowski, president and executive editor of CBS News, said. “Everyone in America knew his distinctive voice and his up-to-the-minute reporting across eight Presidential administrations.”
KNON Radio Host David “DJ Roc D” Nuncio III Passes Away at 52
August 31, 2025
Dallas, TX – KNON Radio and the Tejano community are mourning the loss of David “DJ Roc D” Nuncio III, who passed away on Friday, August 22, 2025, at the age of 52.
No cause of death reported.
WAPT Anchor Celeste Wilson Dies Suddenly at 42
August 27, 2025
WAPT weekend anchor Celeste Wilson has died from a heart attack. She was 42. “Though Celeste had only been with us a short time, we were already touched by her professionalism, warmth, and dedication to the work of journalism,” the Jackson, Mississippi station said. Wilson began her broadcasting career at the CBS affiliate in Monroe, Louisiana, and earned her Master’s degree in journalism from Arizona State University. She also worked at KARK in Little Rock, Arkansas between 2023 and 2024.
Longtime Arizona’s Family anchor Frank Camacho dies at 75
August 29, 2025
PHOENIX, AZ — A beloved colleague and pioneer in the Arizona journalism industry has passed away. Family members shared that Frank Camacho, 75, died on Friday morning after a battle with cancer. He retired from Arizona’s Family in 2012.
Missouri Sports Journalist Ben Arnet Dies ‘Unexpectedly’ at 43, His Colleagues Announce
August 29, 2025
A community of journalists and sports fans is mourning the unexpected death of longtime sports journalist Ben Arnet, who died Aug. 28 at the age of 43. Arnet’s death was confirmed by his colleagues at KOMU, an NBC affiliate in Columbia, Missouri, on air Aug. 28. The station reported that the sports director “unexpectedly died” earlier that day. A cause of death was not reported, but KOMU said the station “will share additional information as it becomes available.” Arnet led the sports department for five years, and he will be remembered for his passion for storytelling, sports and inspiring “the next generation of journalists who worked alongside him,” KOMU staff reported.
Researcher’s Note – NBCUniversal is requiring U.S.-based workers returning to the office later this fall to be fully vaccinated [sic]. Employees will also be required to provide details about their vaccination [sic] status: Link
SAG-AFTRA and JPC Allow for Mandatory Vaccine [sic] Policies on Production Sets: Link
No cause of death reported.
Charles Bierbauer, newsman who excelled at CNN and USC, dies at 83
September 1, 2025
Charles Bierbauer, a former CNN political and international reporter who later became dean of the University of South Carolina’s journalism school, has died at 83. Bierbauer, who retired from USC in 2017, was known for his unruffled poise and clear, on-the-scene accounts of complex headline-grabbing events from Atlanta to Washington to Moscow and everywhere in between. He died Sunday at his home in Spruce Pine, a quiet town of 2,200 in the western North Carolina mountains that was a sharp contrast from the bustling news-filled international capitals where he reported the doings of the world’s most powerful people, from presidents to dictators. His death was announced by his family, CNN reported. No cause of death was given.
Dr Paul Alexander
BREAKING massive Italian study adds to the firm unequivocal accumulating evidence of the link (association) between Malone Bourla Bancel Pfizer Moderna et al. mRNA vaccine & cancer
COVID-19 vaccination, all-cause mortality, and hospitalization for cancer: 30-month cohort study in an Italian province; population-wide cohort analysis was aimed at evaluating the risk of all-cause
| Dr. Paul AlexanderSep 2 |
death and cancer hospitalization due to the COVID mRNA vaccine. ‘Using National Health System official data, the entire population of the Pescara province, Italy was followed from June 2021 (six months after the first vaccination) to December 2023.’
The study has some limitations, and the results are complex and variable yet very eye-opening. Raises alarming questions about the COVID mRNA vaccine and cancer risk and helps at least partially explain the explosion of cancers we have witnessed. The likelihood of cancer hospitalization of the vaccinated individuals varied but was evident.
Alexander News Network (ANN): Trump’s War 2.0 for America is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
This study showed a risk reduction in all-cause mortality but please take that result with caution. ‘Clearly, the 40% risk reduction in all-cause mortality observed in our study, exceeds the impact that could be expected from the reduction of COVID-19 related mortality, which was estimated to cause less than 30% of the excess mortality registered in a number of countries (Bielinski et al., 2024[6]; Mostert et al., 2024[69]; Wang et al., 2022[101]). However, as previously reported for these and other vaccines (Chung et al., 2021[13]; Flacco et al., 2022[30]), this discrepancy was likely caused by the healthy vaccine bias (Høeg et al., 2023[38]), as the vaccinated individuals are well known to be more likely, as compared with the unvaccinated ones, to present further unmeasured characteristics which might protect them from death (Remschmidt et al., 2015[84]).
As regards the observed association between SARS-CoV-2 vaccination and cancer incidence rates, both positive and negative, besides anecdotal reports (Eens et al., 2023[20]; Goldman et al., 2021[35]; Kyriakopoulos et al., 2023[53]; Mizutani et al., 2022[68]; Olszewska et al., 2024[75]; Zamfir et al., 2022[107]) no published study has previously evaluated the potential association between cancer risk and vaccination status, and only one study investigated the possible impact of COVID-19 vaccines on cancer mortality (Fedeli et al., 2024[25]). This analysis found higher mortality rates for cancer in 2021 and 2022 compared to 2020 in the U.S. (Fedeli et al., 2024[25]). However, this study did not directly compare vaccinated vs. unvaccinated subjects, and the increases in cancer mortality could clearly be due to a direct effect of the SARS-CoV-2 infection, as well as to the delays in the cancer diagnostic systems observed during the pandemic (Muka et al., 2023[70]). In the present study, while diagnostic delays and further confounders cannot be excluded, it should also be mentioned that the healthy vaccinee bias, similarly to how it likely leads to and overestimation of vaccine effectiveness against all-cause death, could also lead to an underestimation of the potential negative impact of vaccination on hospitalization due to cancer. Indeed, the healthier lifestyle that is typically associated with vaccination may reduce the risk of lifestyle-associated carcinomas.’
News addicts
Newswize
| House Oversight Committee Releases More Than 30K Pages of Epstein FilesThe House Oversight Committee on Tuesday evening released 33,295 pages of records provided by the Justice Department, offering the most comprehensive look yet into the federal sex-trafficking investigation of disgraced financier Jeffrey Epstein.Epstein-related documents can be found here.Backup access can be found here.What the Files ContainThe massive trove includes:Court transcripts and police reports, including the original 2005 Palm Beach Police Department case …READ THE FULL REPORT |
| Trump Announces Space Command Move to Alabama, Reversing Biden DecisionPresident Donald Trump announced Tuesday that U.S. Space Command headquarters will be relocated from Colorado Springs, Colorado, to Huntsville, Alabama.Background of the MoveTrump reestablished U.S. Space Command in 2018 through an executive order, basing it in Colorado Springs. Before leaving office in 2021, he had signaled his preference to move the headquarters to Huntsville.In 2023, President Joe Biden reversed course …READ THE FULL REPORT |
| Obama’s LinkedIn Now Features Trump After White House Posts New Profile PhotoThe White House has updated its official LinkedIn profile picture to a photo of President Donald Trump — a move that means every past White House staffer’s LinkedIn page now displays Trump’s face under their work experience.From Obama to Biden StaffersOn Tuesday, LinkedIn users noticed that former President Barack Obama’s profile page — which lists “President of the United States” …READ THE FULL REPORT |
| Country Singer Removed from Stage During Concert for Intoxication and ‘Erratic Behavior’Country singer Bryan Martin was forcibly removed from the stage during his performance at the Schaghticoke Fairgrounds in upstate New York on Friday after displaying signs of intoxication and erratic behavior, authorities said.Incident at the FairgroundsThe Rensselaer County Sheriff’s Office said deputies and event staff attempted to escort Martin, 37, offstage, but he resisted and had to be carried away.A …READ THE FULL REPORT |
| Good News: Rudy Giuliani Released from Hospital After Car CrashFormer New York City Mayor Rudy Giuliani has been discharged from a New Hampshire hospital and “is progressing well” after being injured in a weekend car crash, his spokesman said Tuesday.“Thank you to all the people that have reached out since learning the news about my Father,” Giuliani’s son, Andrew Giuliani, wrote on X. “Your prayers mean the world.”Giuliani’s Statement …READ THE FULL REPORT |
EVOL NEWS
MICHAEL EVERY/OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS
7. OIL ISSUES/NATURAL GAS/ENERGY ISSUES/GLOBAL
INDIA/RUSSIA/USA OIL
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES
CAMBODIA/USA TARIFFS
the effect on tariffs in Cambodia
Cambodian Solar Industry Whipsaws From Boom To Bust Thanks To U.S. Tariff Policy
Wednesday, Sep 03, 2025 – 04:15 AM
Cambodia’s solar industry rose quickly but has collapsed just as fast. At its peak in 2023, solar exports to the United States totaled $2.4 billion, making it the country’s largest manufacturing export after garments, footwear, and luggage, according to Nikkei Asia.
Around a dozen factories opened between 2018 and 2022, creating thousands of jobs and briefly turning solar into a major industry.
But Nikkei writes that growth ended after U.S. tariff policy shifted. The Biden administration had granted a two-year waiver on tariffs, but when it expired in mid-2024, the Trump administration imposed duties ranging from 534% to 3,403% on Cambodian solar modules. By comparison, tariffs on Malaysia, Thailand, and Vietnam were lower. The result was immediate: Cambodian solar exports fell to just $4.4 million in the first half of this year, according to customs data.
Many factories have since closed. Jintek Photovoltaic Technology, once a large exporter to U.S. buyers, shut down. Solar Long PV Tech, which had supplied BYD America, also closed after its manager left Cambodia. Hounen Solar has been reduced to only a handful of workers. “My company is temporarily closed this year, and it is because of the tariff,” said manager Sothoeuth, who had overseen 300 employees before the new duties. “We are not sure if we will restart the company again or not. It depends on the tariff.”
A few firms have tried to adapt. Venus Energy and VCOM Power System shifted production from solar modules to thin-film panels, which face only a 19% duty. These panels are more costly to make but remain viable for now. “Before, we had five companies, but now we have only two,” said VCOM’s human resources director, Thang Menghout. “If there will be a higher tariff, we cannot do it anymore.”
Cambodian producers dispute U.S. claims that they were transshipping Chinese-made products. “It is not correct, because we spent a lot of money. We had more than 1,000 workers to produce equipment, and the [Cambodian Commerce] ministry monitors us,” Menghout said. “We don’t know their politics from one country to another, [but] we don’t cheat on our products.”
For workers, the rise and fall of solar has been stark. Factories once offered higher wages than garment jobs and attracted people with promises of more advanced technology. When the factories shut, many returned to lower-paid work. “There was [later] no demand to make solar panels because the U.S. stopped ordering… Then, they reduced workers and salaries,” said former Jintek employee Men Samet, now a fruit seller in Phnom Penh.
“If solar came back, we would go back. We had good managers and high salaries.”
end
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS WEDNESDAY MORNING 6;30AM//OPENING AND CLOSING
EURO/USA: 1.1634 UP 0.0002 PTS OR 2 BASIS POINTS
USA/ YEN 148.77 UP 0.180 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 1.3364 DOWN .0016 OR 16 BASIS PTS
USA/CAN DOLLAR: 1.3798 UP 0.0014 (CDN DOLLAR DOWN 14 BASIS PTS)
Last night Shanghai COMPOSITE DOWN 44.58. PTS OR 1.16%
Hang Seng CLOSED DOWN 161.49 PTS OR 0.83%
AUSTRALIA CLOSED DOWN 1.72%
// EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 161.49 PTS OR 0.83%
/SHANGHAI CLOSED DOWN 44.58 PTS OR 1.16%
AUSTRALIA BOURSE CLOSED DOWN 1.72 %
(Nikkei (Japan) CLOSED DOWN 371.60 PTS OR 0.88%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 3533.90
silver:$40.77
USA dollar index early TUESDAY morning: 98.35 UP 0 BASIS POINTS FROM TUESDAY’s CLOSE
TUESDAY MORNING NUMBERS ENDS
And now your closing TUESDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.189% DOWN 6 in basis point(s) yield
JAPANESE BOND YIELD: +1.636% UP 3 FULL POINTS AND 7/100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.350 DOWN 5 in basis points yield
ITALIAN 10 YR BOND YIELD 3.647 DOWN 6 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.7497 DOWN 5 BASIS PTS
IMPORTANT CURRENCY CLOSES : MID DAY WEDNESDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.1645 UP 0.0013 OR 13 basis points
USA/Japan: 148.74 UP 0.160 OR YEN IS DOWN 16 BASIS PTS//
Great Britain 10 YR RATE 4.770 DOWN 3 BASIS POINTS //
GREAT BRITAIN 30 YR BOND; 5.654 DOWN 4 POINTS.
Canadian dollar DOWN .0016 OR 16 BASIS pts to 1.3800
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The USA/Yuan CNY DOWN AT 7.1448 CNY ON SHORE ..
THE USA/YUAN OFFSHORE DOWN TO 7.1456
TURKISH LIRA: 41.17 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +1.636
Your closing 10 yr US bond yield UP 3 in basis points from TUESDAY at 4.261% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.943 UP 3 in basis points /11:00 AM
USA 2 YR BOND YIELD: 3.650 DOWN 1 BASIS PTS.
GOLD AT 11;00 AM 3551.75
SILVER AT 11;00: 41.04
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: TUESDAY CLOSING TIME 11:00 AM//
London: CLOSED UP 61.30 PTS OR .67%
GERMAN DAX: UP 107.47 pts or 0.46%
FRANCE: CLOSED UP 65.46 pts or 0.86%
Spain IBEX CLOSED UP 85.20pts or 0.58%
Italian MIB: CLOSED UP 57.08 or 0.14%
WTI Oil price 64.50 11.00 EST/
Brent Oil: 67.95 11:00 EST
USA /RUSSIAN ROUBLE /// AT: 81.22 ROUBLE DOWN 0 AND 65/ 100
CDN 10 YEAR RATE: 3.420 DOWN 3 BASIS PTS.
CDN 5 YEAR RATE: 2.903 DOWN 3 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1656 UP 0.0024 OR 24 BASIS POINTS//
British Pound: 1.3437 UP .0056 OR 56 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.7370 DOWN 6 FULL BASIS PTS//
BRITISH 30 YR BOND YIELD: 5.595 DOWN 1 (DANGEROUS LEVELS FOR GILTS)
JAPAN 10 YR YIELD: 1.642 UP 2 FULL BASIS PTS (DANGEROUS TO THEIR ECONOMY
JAPANESE 30 YR BOND: 3.291 UP 6 AND VERY DANGEROUS TO THEIR ECONOMY
USA dollar vs Japanese Yen: 148.08 DOWN 0.509 BASIS PTS
USA dollar vs Canadian dollar: 1.38000 UP 0.0016 BASIS PTS// CDN DOLLAR DOWN 16 BASIS PTS
West Texas intermediate oil: 63.95
Brent OIL: 67.42
USA 10 yr bond yield DOWN 6 BASIS pts to 4.218
USA 30 yr bond yield DOWN 7 PTS to 4.898%
USA 2 YR BOND: DOWN 4 PTS AT 3.617%
CDN 10 YR RATE 3.390 DOWN 6 BASIS PTS
CDN 5 YEAR RATE: 2.876 DOWN 5 BASIS PTS
USA dollar index: 98.13 DOWN 22 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 41.16 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 81.03 DOWN 0 AND 49/100 roubles //
GOLD $3562.00 . (3:30 PM)
SILVER: 41.09 (3:30 PM)
DOW JONES INDUSTRIAL AVERAGE: DOWN 24.95 OR 0.055%
NASDAQ 100 UP 183.73 PTS OR 0.79%
VOLATILITY INDEX: 16.57 DOWN 0.60 OR 3.49%
GLD: $ 328.14 UP 2.55 PTS OR 0.78%
SLV/ $37.34 UP 112.96 PTS OR OR 0.39%
TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 2.87 PTS OR 0.01%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING
Jolted: Bonds, Gold, & Crypto Soar After Labor Market Meltdown
Wednesday, Sep 03, 2025 – 08:00 PM
Despite a tsunami of tears about rising rates and steepening curves in recent days – all pinned to panic by so-called investors over Fed independence and Trump’s ‘firing’ of alleged mortgage cheat Lisa Cook – today saw labor market weakness spark a surge in rate-cut odds and a plunge in yields across all maturities with the curve flattening significantly.
As we detailed earlier, luck may have run out because whereas in June the labor market was still supply-constrained, when there were 342K more openings than jobs in the US, in July we are finally back to demand constrained, with 55k fewer job openings than unemployed workers, the first negative print this series since April 2021.
Source: Bloomberg
Worse still, construction industry quits have collapsed (because there’s no better offers… or because you are an illegal and they are doing background checks)… not a good looking forward indicator for the economy…
Source: Bloomberg
That ugly print prompted the market to shift dovishly, now pricing in a 95% chance that The Fed cuts at the September meeting…
Source: Bloomberg
Nasdaq outperformed on the day, thanks in very large part to the gains in GOOGL and AAPL after yesterday’s anti-trust ‘win’ (more than half of the index gain). The S&P followed the Nasdaq higher with The Dow and Small Caps underperforming (closing red). All the majors ended notably ‘off the highs’ of the day.
Notice the return of ‘330PM Ramp Capital’ driven by a sudden and very sizable $3BN positive delta flow by 0-DTE traders…
Mag7 stocks lifted the entire market today (up 1.6%) as the S&P 493 fell 0.5%
Source: Bloomberg
Bond risk is on the rise (from multi-year lows) with equity risk hovering higher after yesterday’s late drop…
Source: Bloomberg
Treasuries were bid on the weak JOLTS data, with the long-end outperforming (30Y -7bps, 2Y -2bps)
Source: Bloomberg
The 30Y yield tagged 5.00% and plunged…
Source: Bloomberg
The dollar was lower on the day as rate-cut expectations picked up (and chaos in the UK calmed a little)…
Source: Bloomberg
Gold loved the weaker dollar and extended gains to a new record high above $3575 (spot)…
Source: Bloomberg
At this rate, gold will finally take out its inflation-adjusted record high from Jan 1980 very soon…
Source: Bloomberg
Silver also topped $41 for the first time since August 2011…
Source: Bloomberg
Bitcoin rallied back above $112k today (one week highs)…
Source: Bloomberg
Ethereum outperformed Bitcoin today, erasing yesterday’s relative weakness…
Source: Bloomberg
But we note that BTC ETF inflows surged yesterday as ETH ETFs actually saw an outflow…
Source: Bloomberg
Oil prices tanked today after a report that the OPEC+ alliance will consider a fresh round of production increases when the group meets over the weekend.
Source: Bloomberg
Finally, amid all the chatter of fears over a government shutdown, the T-Bill curve shows no signs of the usual ‘kink’ that we have come to expect during these ubiquitous periods and furthermore, USA sovereign risk remains at post-Trump lows…
Source: Bloomberg
So, not worried about Lisa Cook, Fed Independence, or Govt shutdown?
There has been a blip higher in ‘uncertainty’ as geopolitical risk and trade policy concerns start to pick up (but it’s not exactly breaking out)…
Source: Bloomberg
Still, not exactly a wall of worry to climb for risk assets!
USA DATA RELEASES
US Factory Orders Dropped Again In July As Tariff Front-Running Hangover Lingers
Wednesday, Sep 03, 2025 – 10:09 AM
While US Manufacturing PMIs improved in August (after falling in July), today’s ‘hard’ data for US Manufacturing (for July) was expected to show another decline (after June’s large 4.8% MoM post-tariff-front-running drop).
Headline factory orders fell 1.3% MoM (as expected) as the hangover from the massive tariff-front-running in May lingers, dragging orders down to just a 1.6% YoY gain…
Source: Bloomberg
As a reminder, May’s tariff-front-running surge up 8.3% was the second biggest monthly jump in 69 years.
Core orders (ex-Transports) rose 0.6% MoM (the third monthly rise in a row)
Source: Bloomberg
Finally, on the bright side, is the pick up in ‘soft’ Manufacturing data signaling a silver lining in August factory data?
Source: Bloomberg
No matter, The Fed meets before the next print.
END
US Tariffs Top $31 Billion In August, A New Record High
Wednesday, Sep 03, 2025 – 08:48 AM
Authored by Victoria Freedman via The Epoch Times,
Treasury Secretary Scott Bessent announced on Sept. 2 in a post on X that tariff revenues exceeded $31 billion in August, setting a new record high.
The Treasury’s latest Daily Statement showed $31.37 billion in tariff revenue as of Aug. 29, totaling $183.56 billion in the fiscal year to date.
Bessent wrote on X: “Now that August is in the books, tariff revenues topped over $31 billion in the month: a new record high. As collection continues to grow, the Trump Administration is fixing the financial shambles it inherited.”
Last week, the Treasury secretary said that President Donald Trump’s tariffs could exceed $500 billion a year—higher than Bessent’s initial $300 billion estimate.
“I think we could be on our way well over half a trillion, maybe towards a trillion-dollar number. This administration, your administration, has made a meaningful dent in the budget deficit,” Bessent said on Aug. 26.
Last month, the Congressional Budget Office, a nonpartisan budget watchdog, projected that Trump’s tariffs could lower the budget deficit by about $4 trillion over a decade, comprising $3.3 trillion in lower primary shortfalls and $700 billion in reduced interest costs. This is up from the previous estimate of $2.5 trillion.
Court Rules on Tariffs
Minimizing the trade deficit between the United States and its global partners has been a key pillar of the president’s trade policy. On April 9, Trump announced that dozens of countries would be subject to reciprocal tariffs to correct what he has described as unfair trade practices at the expense of the United States.
In the months that followed, the White House worked with partners—including the EU, the UK, China, and Japan—to sign bilateral deals before the Aug. 1 deadline for the import taxes to come into effect.
Last week, a federal appeals court determined that most of Trump’s tariffs are illegal.
The U.S. Court of Appeals for the Federal Circuit ruled 7–4 on Aug. 29 that the president had overstepped his authority under the 1977 International Emergency Economic Powers Act (IEEPA).
“The statute bestows significant authority on the President to undertake a number of actions in response to a declared national emergency, but none of these actions explicitly include the power to impose tariffs, duties, or the like, or the power to tax,” the court stated.
The import taxes will stay in place until the decision comes into effect on Oct. 14, allowing the White House time to appeal the decision at the Supreme Court.
Trump responded in a Truth Social post that ending the tariffs “would be a total disaster for the Country.”
“It would make us financially weak, and we have to be strong. The U.S.A. will no longer tolerate enormous Trade Deficits and unfair Tariffs and Non Tariff Trade Barriers imposed by other Countries, friend or foe, that undermine our Manufacturers, Farmers, and everyone else. If allowed to stand, this Decision would literally destroy the United States of America,” he wrote on Aug. 29.
Supreme Court Review
On Sept. 2, Trump said his administration will ask the Supreme Court on Sept. 3 for an expedited review of the ruling.
“Without the tariffs, this country is in serious, serious trouble. We’ve taken in almost $17 trillion of investment [which] is coming in. Most of it is coming because of tariffs,” the president told reporters.
Treasury Secretary Scott Bessent attends a press conference in Stockholm, Sweden, on July 29, 2025. Magnus Lejhall/TT News Agency/via Reuters
Bessent said that if the Supreme Court does not uphold the president’s use of the IEEPA, there are other means the White House can use to implement the import taxes.
“I’m confident the Supreme Court … will uphold the president’s authority to use IEEPA. And there are lots of other authorities that can be used—not as efficient, not as powerful,” he said.
He also said that the U.S. trade imbalances could have consequences for the economy.
“We’ve had these trade deficits for years, but they keep getting bigger and bigger,” Bessent said. “We are approaching a tipping point … so preventing a calamity is an emergency.”
END
Labor Market Crosses Critical Threshold: For First Time Since 2021 There Are More Unemployed Than Job Openings
Wednesday, Sep 03, 2025 – 10:45 AM
Ahead of today’s JOLTs reported, which as usual lags the monthly jobs report (due Friday) by one month, markets were largely focused on it as an indication of whether and how big negative prior month jobs revisions would be (as a reminder, July and June saw the biggest negative 2-month jobs revision since Covid, prompting Powell to go full dovish at Jackson Hole).
Well, moments ago the BLS reported that in July the number of job openings tumbled by another 176K from a downward revised 7.357MM(originally 7.437MM), to 7.181MM, which not only came in far below the median consensus estimate of 7.380MM and below 28 estimates from the 29 economists polled by Bloomberg…
… but was also the second lowest going back to the covid crash, with just Sept 24 lower.
Regular readers will surely recall what other notable event took place in Sept 2024 which needed a sharp deterioration in the jobs market as validation (for those who don’t remember, please reread this “Brace For Another Huge Negative Payrolls Revision, Greenlighting A 50bps September Rate Cut“). Yes: that’s when the “apolitical” Fed “unexpectedly” cut a jumbo 50bps, just two months before the election, and the collapsing labor market served as cover… Just as it does again now.
Going back to today’s report, according to the BLS, the number of job openings decreased in health care and social assistance (-181,000); arts, entertainment, and recreation (-62,000); and mining and logging (-13,000).
Of the industries noted above, government was the highlight: as shown in the chart below, government job openings crashed to pre-covid levels as demand for parasites has evaporated.
In the context of the broader jobs report, it appears the after four years of the US labor market dodging the bullet, luck may have run out because whereas in June the labor market was still supply-constrained, when there were 342K more openings than jobs in the US, in July we are finally back to demand constrained, with 55k fewer job openings than unemployed workers, the first negative print this series since April 2021.
As we discussed previously, The US never entered a recession in a period when there were more job openings than unemployed workers (i.e. the job market was supply constrained). As of this moment, we know it is no longer supply constrained and is instead demand constrained.
Said otherwise, in July the number of job openings to unemployed finally dropped back under 1.0x.
While the job openings data was very ugly and potentially the first harbinger of the coming recession – things were more normal on the hiring side where the number of new hires rebounded by 41K to 5.308MM from the lowest print in a year, while at the same time the number of people quitting their jobs was unchanged at 3.208MM.
How to make sense of this ongoing deterioration in the labor market?
It likely has to do with the DOL – which recently lost its previous commissioner after Trump fired her last month – starting to factor in the collapse in the shadow labor market, the one dominated by illegal aliens, and the replacement of illegals with legal, domestic workers which in turn is pushing the labor market into a demand-constrain imbalance. The question is how long until this appears in much weaker than expected payrolls prints – we may find out as soon as this Friday when we get the full jobs report for August, and more importantly, the full year revisions on Sept 9 just days later, which if we are correct will show another 600K-900K in jobs that were never there and were simply imagined by the Biden DOL, in the process greenlighting not only a 25bps rate cut, but potentially a jumbo 50bps… just like exactly one year ago.
END
USA ECONOMIC COMMENTARIES/NEWS
Schumer, Jeffries Call For Bipartisanship To Avoid Government Shutdown
Wednesday, Sep 03, 2025 – 12:00 PM
Authored by Jackson Richman via The Epoch Times (emphasis ours),
Democratic leaders in the Senate and House are calling for bipartisanship to avoid a government shutdown.
Congress returned this week from its August recess, and government funding runs out at the end of the month.
“The only way to avoid a shutdown is to work in a bipartisan way, with a bill that can get both Republican and Democratic votes in the Senate,” Senate Minority Leader Chuck Schumer (D-N.Y.) wrote in a Sept. 2 letter to colleagues.
Schumer accused GOP lawmakers of wanting to “go-at-it-alone.”
House Minority Leader Hakeem Jeffries (D-N.Y.) also warned of a government shutdown if Republicans don’t work with Democrats.
“House Democrats are very clear: We’re not down with that,” he said. “And so if what we see next month is simply a continuation of that reckless right-wing Republican approach, we won’t be down with it next month either.”
The National Republican Congressional Committee, the main fundraising and campaign arm of the House GOP, criticized Jeffries for threatening a government shutdown.
“Democrat ‘Leader’ Hakeem Jeffries admitted his radical party is plotting another government shutdown because they’d rather play politics than govern,” the group’s spokesperson, Mike Marinella, said in a statement.
“While Republicans are focused on keeping the government open and working for the American people, Democrats are threatening chaos to protect their extremist agenda.”
In his letter, Schumer criticized the Trump administration for seeking to unilaterally undo government funding.
“With the Trump Administration’s attempt of the so-called ’pocket rescission,’ it is clear that Republicans are prioritizing chaos over governing, partisanship over partnership, and their own power over the American people,” he wrote.
In accordance with the Impoundment Control Act, a rescission is when the White House requests Congress to reverse government funding that has been appropriated by Congress. It must be approved within 45 days of the request being sent to Congress, or else the money must be spent. With the fiscal year set to end on Sept. 30, a rescission request would take effect without Congress approving it.
The Trump administration sent a request to Congress to rescind $4.9 billion in foreign assistance.
“Last night, President Trump cancelled $4.9 billion in America Last foreign aid using a pocket rescission,” the Office of Management and Budget wrote on X on Aug. 29.
Senate Appropriations Committee Chairwoman Patty Murray (D-Wash.) said that the request was a way for the administration to go around Congress.
“Republicans should not accept Russ Vought’s brazen attempt to usurp their own power,” she said in an Aug. 29 statement, referring to the director of the Office of Management and Budget.
“No president has a line item veto—and certainly not a retroactive line item veto.
“Congress should reject this request and this ridiculous, illegal maneuver—and instead insist on making decisions over spending through the bipartisan appropriations process.”
In his letter, Schumer said Democrats are ready to work with Republicans to fund the government.
“Senate Democrats have shown firsthand that we are willing to work in a bipartisan way to keep our government open by advancing bipartisan appropriations bills,” he wrote.
“However, the Trump administration is waging an all-out war against Congress’ Article I authority and the constitutional balance of power. Senate Republicans must decide: stand up for the legislative branch or enable Trump’s slide toward authoritarianism.”
Schumer said that he has spoken with Jeffries and the two “are aligned on our shared priorities for September: where Republicans obstruct, we press forward; where they sow division, we answer with unity; where they threaten shutdown, we hold them accountable.”
end
USA/VENEZUELA
Trump strikes Venezuela’s narco boats!
(zerohedge)
US Strike On Drug-Boat That Departed Venezuela Leaves 11 Dead, Video Released
Tuesday, Sep 02, 2025 – 06:31 PM
Update(1831ET): More details of the military action against an allegedly drug-laden boat which departed Venezuela have been revealed by President Trump in a Truth Social post:
“Earlier this morning, on my Orders, U.S. Military Forces conducted a kinetic strike against positively identified Tren de Aragua Narcoterrorists in the SOUTHCOM area of responsibility,” Trump said. “The strike occurred while the terrorists were at sea in International waters transporting illegal narcotics, heading to the United States. The strike resulted in 11 terrorists killed in action.”
A sizeable U.S. armada currently sits afloat in the waters where the strike occurred. Four destroyers carrying Tomahawk cruise missiles and more than 4,500 Marines and sailors are deployed in the area.
Eleven deaths in the US military action in the south Caribbean is quite significant, and if they are found to be Venezuelan citizens, it will certainly raise tensions much higher with Caracas. Trump has released footage of the strike:
As for President Maduro, he alleged on Monday that Trump is “seeking regime change through military threat.” As for the US claim that these slain narco-“terrorists” were directly under Maduro or were state-linked, this is still anything but proven. In fact, there could be evidence to the contrary…
* * *
Geopolitical fireworks have erupted in the Caribbean amid the tense showdown that’s ensued with US Navy warships moving into the region with an eye on Maduro’s Venezuela. Maduro has in the last days been engaged in his own ‘show of force’ – sending extra troops into Venezuelan border areas.
The White House has confirmed Tuesday that the US military carried out a strike in the southern Caribbean against a drug-carrying vessel that earlier departed Venezuela’s coast. President Trump announced the surprise development from the Oval Office: “When you leave the room, you’ll see that we just, over the last few minutes, literally, shot a boat – a drug-carrying boat,” he told reporters, describing that there were “a lot of drugs” on the vessel.
Secretary of State Marco Rubio separately announced on X that the vessel was being operated by a “designated narco-terrorist organization” – calling it a lethal strike.
The ship had “departed from Venezuela and was being operated by a designated narco-terrorist organization,” Rubio wrote. The Pentagon has not offered any initial comment in the immediate strike aftermath, and few other details are known of the incident. According to newswires:
- US CONDUCTED STRIKE AGAINST DRUG VESSEL FROM VENEZUELA
- VENEZUELA BONDS HIT SESSION HIGH AFTER US DRUG BOAT STRIKE
Venezuela has clearly been back in Trump’s crosshairs, after last month it was first reported that some eight US Navy vessels were en route to patrol Caribbean waters near Venezuela.
Trump will surely come under criticism from some sectors of his base, after he repeatedly promised to not start new wars. However, the administration is selling this fresh action and the naval deployment as part of drug enforcement.
Last Friday, Stephen Miller, deputy White House chief of staff, described that the fresh military build-up off Venezuela and in regional waters is to “combat and dismantle drug trafficking organizations, criminal cartels and these foreign terrorist organizations in our hemisphere.”
Analysts have questioned just how a larger military presence will disrupt the drug trade, as opposed to conventional law enforcement mechanisms which have for decades been involved. According to a Reuters backgrounder:
Among other things, most of the seaborne drug trade travels to the United States via the Pacific, not the Atlantic, where the U.S. forces are, and much of what arrives via the Caribbean comes on clandestine flights.
Venezuelan officials believe their government might be the real target. In early August, the United States doubled its reward for information leading to the arrest of Venezuelan President Nicolas Maduro to $50 million over allegations of drug trafficking and links to criminal groups.
Maduro, Interior Minister Diosdado Cabello and the country’s ambassador to the United Nations Samuel Moncada have said the U.S. is threatening the country with the naval deployments, in violation of international treaties. They have also scoffed at U.S. assertions that the country and its leadership are key to major international drug trafficking.
Venezuela’s Defense Minister General Vladimir Padrino said last Friday: “Venezuelans know who is behind these military threats by the United States against our country.” He emphasized, “We are not drug traffickers, we are noble and hard-working people.”
END
Hegseth To Narco-Terrorists: “Assets Gathering In Region” After Drug-Boat Blown Apart In Missile Strike
by Tyler Durden
Wednesday, Sep 03, 2025 – 08:51 AM
Update (Wednesday Morning):
In a Fox News interview, U.S. Defense Secretary Pete Hegseth said this morning that Tuesday’s military action against a drug-laden boat that departed Venezuela killed 11 Tren de Aragua militants, warning that this is “just the beginning.”
Hegseth explained that the military action to disrupt the command and control nodes of the Tren de Aragua narcoterrorists won’t stop there.
He warned that President Nicolás Maduro of Venezuela faces some tough decisions.
Yesterday’s kinetic strike against narcoterrorists transporting illegal drugs is a force posture maneuver by the U.S. military, positioning warships in the Caribbean Sea area in recent weeks, while Maduro stages war drills.
Here is the latest reporting and sequence of events to understand:
- Three U.S. Missile Destroyers Sail Toward Venezuela To Combat Narco-Terrorists
- Hemispheric Defense: Trump Directs Military For Kinetic Ops Against Foreign Drug Cartels
- What Are The Real Reasons Behind Washington’s Latest Show Of Force Against Venezuela?
- ‘We Have Many Options’: U.S. Warships Pass Through Panama Canal Toward Southern Caribbean
Maduro responded:
- Venezuela Masses 15,000 Troops At Sensitive Border Areas Amid U.S. Naval Build-Up At Sea
- Watch: Maduro Stages Military Show Of Force As U.S. Warships Near
Besides disrupting narcoterrorist drug supply sides, the U.S./Exxon might find this very appealing…
And so it begins: Western Hemisphere defense.
A reminder: the drug catastrophe kills 100,000 Americans every year, many of them working-age men and women, i.e., military-aged. In other words, the fentanyl crisis is seen by some in the national security world as a “reverse Opium War,” and by others as irregular warfare waged by foreign nation-states. And you don’t need to think too hard about where the fentanyl precursor chemicals are coming from…
* * *
END
VICTOR DAVIS HANSON:
KING NEWS
| The King Report September 3, 2025 Issue 7568 | Independent View of the News |
| Precious metals went postal; December gold soared as much as $85.30 (3601.40 high). WTI rallied as much as $2.02; gasoline soared as much as 3.94% (+7.77 cents). Oil and gas usually fall after Labor Day on the end of ‘Drive Season’ demand. Inflation is coming. A critical mass of investors realize that Trump wants to ‘run it hot.’ At an afternoon presser, The King of Debt, despite what the market was signaling, called for a “very serious rate cut!” Gold is +35.6% YTD and +77.4% since February 14, 2024. AU is speaking. Are you listening, Bessent? History shows that after every surge in gold since AU was ‘deregulated,’ bond yields have jumped higher. PS – Gold also tends to lead bond yields lower. PSS – Only substantially higher rates can stop gold. When gold significantly outperforms stocks, the market expects troubling inflation. “You can look it up!” If Bessent cannot understand what is occurring in gold and precious metals, the US is in big trouble. If he does understand, he is part of Trump’s scheme to run everything hot and inflate (or die) away US debt. “Quite Dangerous”: Gilt Yields Hit Highest (5.7%) in 27 Years as UK Budget Bungle Rattles Investors – Reeves is scrambling… to plug a £35 billion ($46.9 billion) budget hole… https://www.zerohedge.com/markets/quite-dangerous-gilt-yields-hit-highest-27-years-uk-budget-bungle-rattles-investors @GlobalMktObserv: This is the worst BEAR MARKET in US Treasuries in modern history: The 20-year Treasury drawdown has been ~38% since 2020, the largest in at least 100 years. Not even the 1970s or 1980s saw such a large decline, even when inflation was much higher. https://x.com/GlobalMktObserv/status/1963029170302177479 Major US equity indices fell sharply in early NYSE trading on Tuesday. Numerous pundits and DJT blamed a federal judge’s ruling that halted tariffs. So, according to Street ‘experts,’ stocks went down on Trump’s tariffs initially; and now they are falling on the rescission of the tariffs. Fangs led the decline on Tuesday, as they did on Friday. It looks like Nvidia’s disappointing results and the growing realization that AI is not delivering as hoped might be deflating the AI Bubble. Nvidia decline 5.5 points near the NYSE opening. The usual suspects eagerly bought the dip. Nvidia jumped from 168.65 at 9:31 ET to 172.379 at 9:50 ET. Alas, there are organic sellers in the market; Nvidia sank to a new daily low of 168.53 at 11:18 ET. ESUs traded modestly higher in early Nikkei trading on Tuesday but turned negative near 19:00 ET. ESUs traded sideways, and mostly negative, until they broke down after the 3 ET European opening. ESUs sank to 6383.25 at 9:31 ET. Conditioned traders, great and small, eager bought; ESUs jumped to 6425.00 at 9:59 ET. Sellers returned, ESUs fell to a daily low of 6371.75 at 11:54 ET. A Noon Balloon conflated with the Afternoon Rally and lifted ESUs to 6413.75 at 13:50 ET. After a retreat to 6397.00 at 14:41 ET, ESUs walked up to 6428.000 at 16:00 ET. Monthly Construction Spending, July 2025 (-0.1% m/m as expected) https://t.co/ZU7aXBY949 US Director of Housing @Pulte: We have received video proof that Lisa Cook’s declared “primary residence” is being rented out to tenants. Cook RECENTLY CLAIMED to the U.S. Government that it was her PERSONAL RESIDENCE, but she’s renting it out?… https://x.com/pulte/status/1962883351901012407 @chrisbrunet: Fed Governor Lisa Cook Lisa Cook relied on the work of @RyanDEnos in her article Racial Segregation and Southern Lynching to push critical race theory and to quantify ”white fear.” This new leaked report proves that data was falsified. https://x.com/chrisbrunet/status/1962935211496218859 @ABC: Kraft Heinz is splitting into two a decade after a merger of the brands created one of the biggest food companies on the planet – One of the companies, currently called Global Taste Elevation Co., will include shelf stable meals and include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese, Kraft Heinz said Tuesday. The other, currently called North American Grocery Co., will include brands such as Oscar Mayer, Kraft Singles and Lunchables… https://abcnews.go.com/Business/wireStory/kraft-heinz-split-decade-after-megafood-merger-125173208 Trump on Tuesday afternoon: “We just, over the last few minutes, shot out a drug-carrying boat… and there’s more where that came from… These came out of Venezuela.” (A factor in gold?) https://x.com/RealAmVoice/status/1962957020476174379 Positive aspects of previous session The Dollar Index rallied moderately. Stocks rallied from midday to the NYSE close, abetted by DJT’s call for a ‘serious rate cut.’ Negative aspects of previous session Gold and Gold Stocks are screaming that the Fed should NOT cut rates! Nvidia got hammered again. USUs declined as much as 1 6/32. US stocks declined sharply in the morning. Ambiguous aspects of previous session What is gold trying to tell us? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 6397.55 Previous session S&P 500 Index High/Low: 6416.54; 6360.58 @jenniferzeng97: NYT’s Alice So was a VIP guest at the CCP’s Nanjing Propaganda Dept event! Photos reveal her speech on media in the new era—while NYT scrubs all traces. https://t.co/JnG4KCo3o1 Google jumped 7.2% on a ruling that it does NOT have to sell Chrome or its Android operating system. Apple rallied 3.1% because Google can continue to pay Apple to be its default search engine on Safari. Today – There was no start of September rally on Tuesday. As we noted in Tuesday’s missive, “the relentless organic selling on Friday and in prior sessions suggests that some large PMs are unloading. Gold, the global bond bear market, and the deflating of the AI Bubble were the main factors on Tuesday. These are the items that should dictate trading today. How big is the short interest in gold? Could some be ‘in trouble?’ Due to the robust rebound after the morning decline, traders will play for a rally today. The key could be if Google can hold what should be a huge early rally. ESUs are+8.50; NQUs are +56.00 (on Google); AU is +5.60 and USUs are +3/32 at 20:12 ET. Expected Economic Data: July JOLTS Job Openings 7.373m, Quits 3.1m; July Factory Orders -1.3% m/m; July Durable Goods -2.8% m/m, Ex-Trans +1.1% m/m; Aug Wards Total Vehicle Sales 16.1m; St. Louis Fed Pres Musalem 9 ET, Fed Beige Book 14:00 ET S&P Index 50-day MA: 6325; 100-day MA: 6031; 150-day MA: 5955; 200-day MA: 5962 DJIA 50-day MA: 44,486; 100-day MA: 42,973; 150-day MA: 42,926; 200-day MA: 43,098 (Green is positive slope; Red is negative slope) S&P 500 Index (6415.54 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 6195.79 triggers a sell signal Daily: Trender is positive: MACD is negative – a close below 6376.37 triggers a sell signal Hourly: Trender and MACD are negative – a close above 6467.60 triggers a buy signal @CWBChicago: Labor Day weekend in Chicago: 59 people shot; 9 homicides; 3 mass shootings Yet, the ‘Round Mound of Rebound’ Gov Pritzker and Marxist Mayor Johnson maintain that Chicago is safe and Trump’s help is not welcome. Apology to Charles Barkley for bastardizing his nickname. Pritzker: “The President’s absurd characterizations do not match what is happening on the ground here. He has no idea what he’s talking about. There is no emergency.” https://x.com/RapidResponse47/status/1962973983714000977 Chicago residents beg for more help as crime wreaks ‘havoc’ on neighborhoods – Chicago locals describe worsening violence as Trump administration floats sending National Guard troops https://www.foxnews.com/media/chicago-residents-beg-more-help-crime-wreaks-havoc-neighborhoods?lid=zzaueeby1031 @cspan: President Trump on deploying the National Guard to Chicago: “Well, we’re going in. I didn’t say when. We’re going in… Chicago is a hellhole right now.” https://x.com/cspan/status/1962958446199730613 At a late afternoon presser, Pritzker said Trump is tearing the US apart. The Round One reiterated the leftist mantra that Chicago needs federal funds for crime prevention. It’s always ‘give us more money!’ Mayor Johnsons blamed Trump’s agenda and Red State guns coming into Chicago for the violence. @CWBChicago: Mr. Mayor: As we have reported, the ATF (federal government) has disrupted a network that was gunrunning in the city. The gunrunners, according to federal criminal complaints, are members of the Venezuela-based Tren de Aragua street gang. @charliekirk11: San Francisco-based U.S. District Judge Charles Breyer (brother to retired SCOTUS Justice Breyer) just ordered the Trump administration to stop the deployment of the National Guard in California to protect federal immigration personnel and buildings. This ruling is clearly political, meant to stifle the President’s commitment to stopping crime in other big cities since Judge Breyer himself brought it up in his ruling: “President Trump and Secretary Hegseth have stated their intention to call National Guard troops into service in other cities across the country.” In June, this same judge, ruled that Trump’s deployment of the California National Guard was likely illegal and ordered the troops be returned to Newsom’s control. That was reversed by the 9th U.S. Circuit Court of Appeals a week later. Expect the same appeal process to play out yet again here. When Janet Reno and Bill Clinton sent US troops to Waco, Texas and their attack on the Branch Davidian compound resulted in women and children being incinerated, Dems and media support the action. NYC woman busted for threatening to kill President Trump quietly released by Obama-appointed judge (It was Boasberg!) https://t.co/lYTVRZPae9 @joma_gc: President Trump confirms viral video of objects being thrown from a White House window is an AI generated fake made and disseminated by Democrat propagandists: “those windows are sealed and weigh 600 pounds.” https://x.com/joma_gc/status/1962960251889578245 Over the weekend, Dem influencers (some paid by Dems) spread the rumor that Trump died. @AlphaNewsMN: Gov. Tim Walz gleefully refers to baseless rumors that President Trump had died: ‘The last few days you woke up thinking there might be news.’ https://x.com/AlphaNewsMN/status/1962920181803425978 Acting U.S. Attorney Bill Essayli @USAttyEssayli: ARRESTED: Bobby Nunez is now under arrest for brazenly towing an ICE vehicle. He is charged with theft of government property. Apparently, he thought it would be funny to interfere with our immigration enforcement operations. Now he can laugh behind bars while he faces justice. Nunez is looking at up to 10 years in federal prison if convicted. @JD_Cashless: Every quarter, Secret Service snipers are supposed to demonstrate that they can hit a target while standing, sitting, kneeling, and prone. But the DHS OIG has revealed in a new report that NONE of the Secret Service snipers met that requirement last year. https://t.co/RMcTlaoTWA @SpeechUnion: When @Glinner landed at Heathrow, he was met by five armed police officers, and immediately arrested. His ‘crime’? Three gender-critical tweets. As Graham says in his Substack: “In a country where paedophiles escape sentencing, where knife crime is out of control, where women are assaulted and harassed every time they gather to speak, the state had mobilised five armed officers to arrest a comedy writer”. Graham’s single bail condition is that he does not go on X. We do not believe Graham’s arrest or the bail conditions imposed were lawful. We will be backing him all the way in his fight against these preposterous allegations and the disproportionate response from the police. https://x.com/SpeechUnion/status/1962823252465565803 @JamesMelville: A boutique hotel owner in Cambridgeshire has rejected a £3 million, seven-year contract to house migrants, saying it would “harm the village” and refused to be part of the “arrogant” government’s asylum system. https://www.express.co.uk/news/uk/2102531/hotel-owner-rejects-contract-migrants-asylum?sfnsn=scwspwa\ @elonmusk: The government in Britain is bribing hotel owners with multi-millions of pounds for SEVEN-year contracts to house illegal migrants. Their goal is obviously to amplify and extend the illegal migrant tidal wave, not reduce it. Anyone saying otherwise is a liar… @TheBabylonBee: English Bobbies Race Past 5 Stabbings to Tackle Offensive Social Media Poster | |
SWAMP STORIES FOR YOU TONIGHT
She understands capitalism quite well: she has acquired considerable wealth while in office
(QTRFringe)
“I’m So F**king Sick Of Watching Politicians Get Rich While They’re In Office…”
Wednesday, Sep 03, 2025 – 07:20 AM
Submitted by QTR’s Fringe Finance
Ilhan Omar: Preaching Socialism, Practicing Capitalism
I am so f**kng sick of watching politicians on both sides of the aisle get rich while they’re in office. But when politicians rail against millionaires and billionaires while quietly joining their ranks, it’s even worse, because it’s hypocrisy dressed up as virtue.
Few examples are as glaring as Rep. Ilhan Omar’s latest financial disclosure.
Just months ago, Omar dismissed rumors about her personal wealth as “ridiculous” and “categorically false,” insisting she was just a working mom with student loan debt.
Now, according to filings reported by the New York Post and Washington Free Beacon, Omar and her husband, Tim Mynett, are sitting on a net worth of up to $30 million. That’s a 3,500% jump in a single year.
Either her financial situation changed at the speed of light, or her earlier denials weren’t worth much. And the hypocrisy runs even deeper when it comes to those who spend their careers railing against capitalism, wealth, and inequality. Which is to say nothing of Omar’s critiques of the U.S., calling it “one of the worst countries” in a recent interview.
Her net worth didn’t come from thriftiness on a congressional salary. It came from her husband’s businesses: a California winery and a Washington, D.C.–based venture capital firm, Rose Lake Capital.
The winery was valued at a measly $15,000 to $50,000 last year but is now worth up to $5 million. Normal.
Rose Lake Capital went from essentially worthless to being valued between $5 million and $25 million, while the company boasts of managing a staggering $60 billion in assets.
Not bad for a family that supposedly embodies the struggles of everyday Americans.
And lets just say Omar’s net worth surge was legitimate for a second. She married into wealth — or her husband is just a resounding success — that’s not what bothers me.
🔥 50% OFF FOR LIFE: Using this coupon entitles you to 50% off an annual subscription to Fringe Finance for life: Get 50% off forever
What bothers me the most is that Omar has built her career thundering against the wealthy and declaring capitalism a system rigged against the little guy. She lectures about inequality, demonizes people who accumulate fortunes, and paints millionaires as morally compromised. Yet here she is, supposedly reaping the rewards of venture capital and luxury wine—two industries not exactly known for their devotion to socialist ideals.
It’s not that Americans resent success. It’s that Omar’s success makes her rhetoric look like a cheap costume. Don’t preach about tearing down the capitalist system while sipping wine financed by it. Don’t rail against millionaires while marrying one.
The contradiction is laughable. Condemn the rich in speeches, then quietly become one of them. Call the American economic system exploitative, then ride it to a lifestyle most of your constituents will never experience.
As I suggested on X today, people who both hate our country and actively preach socialism and communism in politics should have their net worth capped at $999,000 so they don’t become “evil millionaires,” and they must cut checks for any overages to the IRS or Treasury to help “solve inequity.”
If Omar truly believes wealth is corrosive, exploitative, and immoral, then shouldn’t she model the lifestyle she prescribes for everyone else? At the very least, she owes voters an explanation for how a self-described working mom with student loan debt turned into one of the wealthiest members of Congress almost overnight.
If nothing else, Omar’s financial disclosure is proof of one thing: the capitalist system she claims to despise is working just fine—for her
GREG HUNTER
harveyorganblog.com 
