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FROM MY no 4 SON STEPHEN //THROUGH AI: ENJOY
099 H DEUTSCHE BANK AG 243
118 H MACQUARIE FUTURES US 143
323 C HSBC 79
363 H WELLS FARGO SECURITI 56
657 H MORGAN STANLEY 72
661 C JP MORGAN SECURITIES 31
737 C ADVANTAGE FUTURES 2
880 C CITIGROUP 1
905 C ADM 7
GOLD: NUMBER OF NOTICES FILED FOR SEPT/2025: 317 CONTRACTs NOTICES FOR 31700 OZ or 0.9860 TONNES
total notices so far: 4357 contracts for 435,700 OR 13.552 tonnes)
SILVER NOTICES: 153 NOTICE(S) FILED FOR 0.765 MILLION OZ/
total number of notices filed so far this month : 11,804 CONTRACTS (NOTICES) for 59.021 million oz
A DEPOSIT OF .28 TONNES OF GOLD INTO THE GLD
INVENTORY RESTS AT 979.96 TONNES
JULY: 50.925 MILLION OZ (QUITE SMALL)
AUGUST: 59.455 MILLION OZ (QUITE SMALL)
SEPT. 22.000 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: 61.000 MILLION OZ NORMAL DELIVERY(INCLUDES ALL QUEUE JUMPING) PLUS 3.0 MILLION OZ EX FOR RISK = 64.000 MILLION OZ. THIS IS THE FIRST ISSUANCE OF EXCHANGE FOR RISK FOR SILVER SINCE MAY.
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 0.2177 TONNES PLUS 0.0000 TONNES OF EXCHANGE FOR RISK TODAY//NEW TOTAL EX. FOR RISK/MONTH = 9.586//NEW TOTAL STANDING FOR GOLD SEPT ADVANCES TO = 23.3309 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. 42.416 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 STRONG 370 CONTRACTS OI TO 157,073 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 100 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 100 CONTRACTS and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 630 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 370 CONTRACTS AND ADD TO THE 100 E.FP. ISSUED
WE OBTAIN A STRONG SIZED GAIN OF 470 OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES WITH OUR GAIN IN PRICE OF $0.28 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 2.350 MILLION PAPER OZ
OCCURRED WITH OUR $0.28 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 THURSDAY MORNING:
SHANGHAI CLOSED UP 63.09 PTS OR 1.65%
//Hang Seng CLOSED DOWN 94.25 PTS OR 0.36%
// Nikkei CLOSED UP 378.38 PTS OR 0.87% //Australia’s all ordinaries CLOSED UP .16%
//Chinese yuan (ONSHORE) CLOSED DOWN AT 7.1229 OFFSHORE CLOSED DOWN AT 7.1218/ Oil UP TO 63.59 dollars per barrel for WTI and BRENT UP TO 67.26 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN DOWN IN TRADING AT 7.1229 AND WEAKER//OFF SHORE YUAN TRADING DOWN TO 7.1218 AGAINST US DOLLAR/ AND THUS WEAKER
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END
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A TINY SIZED 451 CONTRACTS TO 510,076 OI WITH OUR LOSS IN PRICE OF $1.10 WITH RESPECT TO WEDNESDAY’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 FAIR NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (1715). WE HAD ZERO T.A.S. LIQUIDATION AS WE HAD A TOTAL GAIN IN OI ON BOTH OF OUR EXCHANGES, THE COMEX AND LONDON’S EXCHANGE FOR PHYSICAL EQUATING TO 1,166 CONTRACTS (OR 3.626 TONNES).THEN WE WERE NOTIFIED, THAT WE HAD A ZER0 CONTRACT EXCHANGE FOR RISK ISSUANCE IN GOLD CONTRACTS FOR NIL OZ (0.00 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: THREE ISSUANCES SO FAR TOTALLING 3082 CONTRACTS OR 308,200 OZ OR 9.5863 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 3082 CONTRACTS SO FAR FOR 308,200 OZ OR 9.586 TONNES OF GOLD!!
AS I EXPLAINED ABOVE,:THE RECIPIENT OF EXCHANGE FOR RISK IS THE BANK OF ENGLAND
here are the only possible candidates who must bring back loaned gold
- THE BANK OF ENGLAND WHO CONTINUES TO LEASE OUT ITS GOLD TO BULLION BANKS AND :
- THE FEDERAL RESERVE BANK OF NEW YORK (NEED TO RETRIEVE THEIR LEASED GOLD FROM THE BIS).THE FED STILL REFUSES TO BRING BACK MUCH OF ITS 34 TONNES SHORTFALL. IT BOUGHT BACKONLY 4 TONNES AND THUS THEIR SHORTFALL TO THE BIS IS 30 TONNES.
HOWEVER, IN OUR CASE, EXCHANGE FOR RISK RECIPIENT IS THE BANK OF ENGLAND. THE COUNTERPARTY TO THE BANK OF ENGLAND EXCHANGE FOR RISK ARE BULLION BANKS THAT CANNOT VERIFY THAT THEIR GOLD IS UNENCUMBERED. THE BUYER, REPRESENTING THE CENTRAL BANK OF ENGLAND 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 STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 8940 CONTRACTS WITH OUR SMALL 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 FAIR T.A.S ISSUANCE AS THE CME NOTIFIES US THAT THEY HAVE ISSUED 1277 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 DESPERATELY TRYING TO STOP GOLD’S ADVANCE AND THIS ENDS IN FAILURE. FOR THE FIRST TIME EVER, THEY FAILED TO RAID AT MONTH’S END AUGUST COMEX AND OTC/LONDON LBMA EXPIRY!!
THE T.A.S. LIQUIDATION OF THESE T.AS. CONTRACTS (ALONG WITH AUGUST MONTH- END SPREADERS) IS THE REASON 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 // 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; INITIAL STANDING; 2,602 CONTRACTS OR 260,200 OZ FOR 8.093 TONNES OF GOLD FOLLOWED BY TODAY’S 0.2177 TONNES QUEUE JUMP TO GO ALONG WITH THE 0.000 TONNES OF EXCHANGE FOR RISK ISSUANCE TODAY AND // TOTAL EXCHANGE FOR RISK ISSUANCE SEPT: 9.586 TONNES//NEW TOTALS STANDING ADVANCES TO 23.3309 TONNES OF GOLD!!!
THE FED IS THE OTHER MAJOR SHORT OF AROUND 30+ 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 239 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 WITH TODAY;S 0.2177 TONNES QUEUE JUMP AND 0.000 TONNES TODAY// NEW TOTALS OF 9.586 TONNES OF EXCHANGE FOR RISK ISSUANCE/:
THAT IS;
A) 0.0000 TONNES OF EXCHANGE FOR RISK ISSUANCE TODAY + 9.586 TONNES EX FOR RISK PRIOR =//TOTAL FOR MONTH: 9.586 TONNES EX FOR RISK!!
B) 0.2177 TONNES TODAY QUEUE JUMP
TOTALS: 23.3309 TONNES INITIALLY STANDING FOR GOLD/SEPT.
EXCHANGE FOR PHYSICAL ISSUANCE/SEPTEMBER
THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A STRONG SIZED 1715 EFP CONTRACT WAS ISSUED: : /DEC 1715 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 1715 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//WEDNESDAY
- 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 WEDNESDAY NIGHT/THURSDAY MORNING WAS A FAIR SIZED SIZED 1277 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 ESPECIALLY WITH THE FOLLOWING;
- WITH JULY’S RARE TWO ISSUANCES OF EXCHANGE FOR RISK (LATE IN JULY)
2) AND THIS WAS FOLLOWED WITH AUGUST’S 7 ISSUANCES OF EXCHANGE FOR RISK FOR 44.696 TONNES
3) TO BE FOLLOWED BY SEPTEMBER’S 3 ISSUANCES FOR EXCHANGE FOR RISK FOR 9.586 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.
AND NOW SEPT:
SEPT: 12.600 TONNES OF GOLD (INCLUDES TODAY’S QUEUE JUMP) + 0.000 TONNES EX FOR RISK TODAY+ 9.586 TONNES EX FOR RISK PRIOR =_//TOTAL EX FOR RISK// FOR MONTH = 9.586//NEW TOTALS FOR GOLD STANDING SEPT = 23.3309 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 SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY A SMALL $1.10./ /) BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE A STRONG 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 AND THIS WEEKS’S TRADING!! THIS IS THE FIRST TIME THAT THE CROOKS COULD NOT MUSTER A RAID ON OPTIONS EXPIRY LONDON/OTC AUGUST TRADING. THEIR RAID ON OUR PRECIOUS METALS CAUSED NO DAMAGE TO OUR PRICE.
THURSDAY MORNING//WEDNESDAY 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 WEDNESDAY EVENING/ THURSDAY 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 HAD 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: 3 ISSUED:
THE CME NOTIFIED US THAT OUR THREE ISSUANCES OF EXCHANGE FOR RISK EQUATES TO 0 CONTRACTS FOR NIL OZ BUT A TOTAL FOR THE MONTH OF 9.586 TONNES. WE WILL PROBABLY HAVE A DOOZY FOR SEPT DELIVERIES AS THE BANK OF ENGLAND WANTS ITS GOLD BACK+ THE MASSIVE QUEUE JUMPING BY OTHER CENTRAL BANKS IS CERTAINLY ON DISPLAY TODAY’S 0.9296 TONNES QUEUE JUMP.
ANALYSIS SEPT DELIVERY MONTH GOING FROM FIRST DAY NOTICE// SEPT COMEX CONTRACT
WE HAVE A STRONG SIZED GAIN TOTAL OF 27.496 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 0.2177 TONNES OF GOLD ALONG WITH 0.000 TOTAL TONNES OF EXCHANGE FOR RISK TODAY/// TOTAL FOR MONTH TOTALS EX FOR RISK// MONTH = 9.586//NEW TOTAL STANDING FOR GOLD IN SEPT ADVANCES TO: 23.3309 TONNES.
ALL OF THIS HUGE STANDING FOR SEPTEMBER WAS ACCOMPLISHED DESPITE OUR LOSS IN PRICE TO THE TUNE OF $1.10
WE HAD 6674 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 1166 CONTRACTS OR 116,600 0Z (3.626 TONNES)
confirmed volume WEDNESDAY 201,375 contracts// fair//
speculators have left the gold arena
INITIAL GOLD COMEX
SEPT CONTRACT MONTH
SEPT 11 /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- |
| Deposits to the Customer Inventory, in oz | DEPOSITS/CUSTOMER 0 ENTRIES xxxxxxxxxxxxxxxxI |
| No of oz served (contracts) today | 317 notice(s) 31700 OZ 0.9860 TONNES |
| No of oz to be served (notices) | 62 contracts 6200 OZ 0.1928 TONNES |
| Total monthly oz gold served (contracts) so far this month | 4357 notices 435,700 oz 13.552 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
xxxxxxxxxxxxxxxxxxxxx
DEPOSITS/CUSTOMER 0
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
customer withdrawal
0 entries
ADJUSTMENTs 2
Brinks;customer account to dealer account 6,944.614 (216 KILOBARS)
JPMorgan: dealer to customer account: 7999.557 oz
AMOUNT OF GOLD STANDING FOR SEPTEMBER
THE FRONT MONTH OF SEPTEMBER STANDS AT 379 CONTRACTS FOR A GAIN OF 16 CONTRACTS. WE HAD 54 CONTRACTS FILED ON WEDNESDAY SO WE GAINED 70 CONTRACTS OR 7,000 OZ ENTERTAINED A QUEUE JUMP OF 0.2177 TONNES. WE NOW MUST ADD TO OUR INITIAL 2.333 TONNES OF GOLD STANDING TO TODAY’S QUEUE JUMP OF 0.2177 TONNES AND THEN ADD MONTH SEPT// EX FOR RISK = 9.586//THUS NEW TOTAL OF GOLD STANDING ADVANCES TO 23.3309 TONNES
OCTOBER LOST 823 CONTRACTS UP TO 60,484
NOVEMBER GAINED 16 CONTRACTS UP TO 2933 CONTRACTS.
We had 317 contracts filed for today representing 31700 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 317 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer an 31 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 (4357 X 100 oz ) to which we add the difference between the open interest for the front month of SEPT ( 379 CONTRACTS) minus the number of notices served upon today (317 x 100 oz per contract) equals 441,900 OZ OR 13.7449 TONNES OF GOLD TO WHICH WE ADD OUR TOTAL EX FOR RISK/SEPT MONTH OF 9.586 TONNES//NEW TOTAL STANDING ADVANCES TO 23.3309 TONNES
thus the INITIAL standings for gold for the SEPTEMBER contract month: No of notices filed so far (4357 x 100 oz +we add the difference for front month of SEPT. (379 OI} minus the number of notices served upon today (317 x 100 oz) which equals 441,900 OZ OR 13.7449 TONNES PLUS 9.586 TONNES EXCHANGE FOR RISK = 23.3309 TONNES.
TOTAL COMEX GOLD STANDING FOR SEPT..: 23.3309 TONNES TONNES WHICH IS HUGE FOR THIS NORMALLY INACTIVE ACTIVE DELIVERY MONTH IN THE CALENDAR.
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COMEX GOLD INVENTORIES/CLASSIFICATION
NEW PLEDGED GOLD:
241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES
204,937.290 OZ PLEDGED MANFRA 3.08 TONNES
83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes
265,999.054, oz JPM No 2
1,152,376.639 oz pledged Brinks/
Manfra: 33,758.550 oz
Delaware: 193.721 oz
International Delaware:: 11,188.542 oz
total pledged gold: 2,024,054.573 oz 62.956 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 38,912,304.554 oz
TOTAL REGISTERED GOLD 21,289,381.227 or 662.19 tonnes
TOTAL OF ALL ELIGIBLE GOLD 17,622,923.427 OZ
END
REGISTERED GOLD THAT CAN BE SERVED UPON 19,264,8458oz ((REG GOLD- PLEDGED GOLD)= 599.20 tonnes // (
total inventories in gold declining rapidly
SILVER/COMEX
SILVER/COMEX
THE SEPTEMBER 2025 SILVER CONTRACTS
SEPT 11 2025
INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 1 entries: i) Out of Brinks 513,696.400 oz total withdrawal 513,696.400 oz |
| Deposits to the Dealer Inventory | 0 ENTRY |
| Deposits to the Customer Inventory | 2 DEPOSIT ENTRIES/CUSTOMER ACCOUNT i)Into Asahi 1,209,908.600 oz ii) into CNT: 688,456.000 oz total deposit 1,898,364.600 oz |
| No of oz served today (contracts) | 153 CONTRACT(S) (0.765 million OZ |
| No of oz to be served (notices) | 396 contracts (1.980 MILLION oz) |
| Total monthly oz silver served (contracts) | 11,804 Contracts (59.021 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 |
DEPOSITS INTO DEALER ACCOUNTS
0 ENTRY
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2 DEPOSIT ENTRIES/CUSTOMER ACCOUNT
i)Into Asahi 1,209,908.600 oz
ii) into CNT: 688,456.000 oz
total deposit 1,898,364.600 oz
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx)
withdrawals: customer side/eligible
1 entries:
i) Out of Brinks 513,696.400 oz
total withdrawal 513,696.400 oz
ADJUSTMENTs 2
a) Customer to dealer
CNT 93,099.800 oz
b0 Dealer to customer
Manfra: 65,729,800 oz
TOTAL REGISTERED SILVER: 196.779 MILLION OZ//.TOTAL REG + ELIGIBLE. 524.513 Million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR AUGUST
silver open interest data:
FRONT MONTH OF SEPTEMBER /2025 OI: 549 OPEN INTEREST CONTRACTS FOR A LOSS OF 147 CONTRACTS. WE HAD 358 CONTRACTS SERVED ON TUESDAY SO WE GAINED A STRONG 211 CONTRACTS OR 1.055 MILLION OZ ENTERTAINED A QUEUE JUMP//NEW STANDING FOR SILVER COMEX INCREASES TO 61.000 MILLION OZ. THEN WE MUST ADD OUR INITIAL ISSUANCE OF 600 CONTRACTS FOR EXCHANGE FOR RISK OR 3.0 MILLION OZ//NEW STANDING ADVANCES TO 64.000 MILLION OZ
STANDING FOR SILVER: 64.000 MILLION OZ
OCTOBER GAINED 33 CONTRACTS TO 2380
NOVEMBER LOST 2 CONTRACTS UP TO 1400.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 153 or 0.765 MILLION oz
CONFIRMED volume; ON WEDNESDAY 44,925 weak//
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 11,804 X5,000 oz = 59.021 MILLION oz
to which we add the difference between the open interest for the front month of SEPT (549) AND the number of notices served upon today (153 )x (5000 oz)
Thus the standings for silver for the SEPTEMBER 2025 contract month: (11,804) Notices served so far) x 5000 oz + OI for the front month of SEPTEMBER(549) minus number of notices served upon today (153)x 5000 oz equals silver standing for the SEPTEMBER contract month equating to 61.000 MILLION OZ TO WHICH WE ADD OUR INITIAL EXCHANGE FOR RISK SEPT TOTALLING 3.0 MILLION OZ//NEW STANDING ADVANCES TO 64.000 MILLION OZ
New total standing: 64.000 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 196.779 million oz of registered silver
JPMorgan as a percentage of total silver: 210.283/524.513 million. 40.07%
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 11 WITH GOLD DOWN $7.50 TODAY/SMALL CHANGES IN GOLD AT THE GLD A DEPOSIT OF .28 TONNES OF GOLD INTO THE GLD:/// ///INVENTORY RESTS AT 979.96 TONNES//
SEPT 10 WITH GOLD DOWN $1.10 TODAY/NO CHANGES IN GOLD AT THE GLD:/// ///INVENTORY RESTS AT 979.68 TONNES//
SEPT 9 WITH GOLD UP $47.40 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.29 TONNES OF GOLD FROM THE GLD/// ///INVENTORY RESTS AT 979.68 TONNES//
SEPT 8 WITH GOLD UP $41.40 TODAY/NO CHANGES IN GOLD AT THE GLD// ///INVENTORY RESTS AT 981.97 TONNES//
SEPT 5 WITH GOLD UP $47.10 TODAY/HUGE CHANGES IN GOLD AT THE GLD ; A FRAUDULENT WITHDRAWAL OF 2.29 TONNES OF PAPER GOLD OUT OF THE GLD// ///INVENTORY RESTS AT 981.97 TONNES//
SEPT 4 WITH GOLD DOWN $22.70 TODAY/HUGE CHANGES IN GOLD AT THE GLD ; A FRAUDULENT WITHDRAWAL OF 6.30 TONNES OF PAPER GOLD OUT OF THE GLD// ///INVENTORY RESTS AT 984.26 TONNES//
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/
GLD INVENTORY: 979.96 TONNES, TONIGHTS TOTAL
SILVER
SEPT 11 WITH SILVER UP $0.46 TODAY/NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 485.677 MILLION OZ//
SEPT 10 WITH SILVER UP $0.28 TODAY/NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 485.677 MILLION OZ //
SEPT 9 WITH SILVER DOWN $0.55/ HUGE CHANGES AT THE SLV AT WITHDRAWAL OF 1.816 MILLION OZ OUT OF THE SLV:// ////INVENTORY RESTS AT 486.677 MILLION OZ./
SEPT 8 WITH SILVER UP $0.35/ HUGE CHANGES AT THE SLV AT WITHDRAWAL OF 1.181 MILLION OZ OUT OF THE SLV:// ////INVENTORY RESTS AT 488.493 MILLION OZ./
SEPT 5 WITH SILVER UP $0.25/ HUGE CHANGES AT THE SLV AT WITHDRAWAL OF 2.735 MILLION OZ OUT OF THE SLV:// ////INVENTORY RESTS AT 489.674 MILLION OZ./
SEPT 4 WITH SILVER DOWN $0.68/ HUGE CHANGES AT THE SLV AT WITHDRAWAL OF 2.735 MILLION OZ OUT OF THE SLV:// ////INVENTORY RESTS AT 491.308 MILLION OZ./
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.//
CLOSING INVENTORY 485.677 MILLION OZ//
PHYSICAL GOLD/SILVE
1/PETER SCHIFF
JOHN RUBINO
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 239
a must view:
5. COMMODITY REPORT COPPER
..What Does Dr. Copper Say?
Thursday, Sep 11, 2025 – 09:30 AM
Authored by Richard Woolnough via BondVigilantes.com,
We’ve spent nearly two decades on this blog exploring the economic outlook, and history shows that this is especially relevant for active bond managers.
Currently, risk markets are priced for a benign economic scenario. Credit spreads are historically tight, equity valuations are elevated, and interest rates are on a downward path as central banks unwind tight monetary policies to keep growth on track.
The global economy appears healthy, and markets seem to have rediscovered their appetite for risk.
But as always, we believe it’s worthwhile to explore alternative diagnoses.
Just as one might consult a doctor for a second opinion in life, we can do the same in economics: by turning to Doctor Copper.
Doctor Copper is simply the ratio of the price of copper divided by the price of gold. Copper, an industrial metal, reflects economic activity, while gold is traditionally viewed as a store of wealth.
The theory goes: when the economy is strong, the ratio is high; when it’s weak, the ratio is low.
When we chart the effectiveness of this diagnostic tool over time, we find that it has merit.
Source: M&G, Bloomberg
The chart suggests that previous declines in the Doctor Copper ratio have often aligned with periods of economic slowdown or recession.
While investors remain optimistic, the copper-to-gold ratio is signalling a more cautious view. Whenever the ratio has reached levels this low, it was consistent with a slowdown or even a recession.
With the ratio trending lower again, it’s worth considering whether this indicator is once more highlighting risks that broader markets may be overlooking.
Could this decline be a sign of the Markets’ Risky New Appetite (MRNA)?
Or is it a reminder to trust the traditional economic wisdom of Doctor Copper?
END
Either way, something is different this time, and it might be worth paying attention.
ASIAN MARKETS THIS THURSDAY MORNING:
SHANGHAI CLOSED UP 63.09 PTS OR 1.65%
//Hang Seng CLOSED DOWN 94.25 PTS OR 0.36%
// Nikkei CLOSED UP 378.38 PTS OR 0.87% //Australia’s all ordinaries CLOSED UP .16%
//Chinese yuan (ONSHORE) CLOSED DOWN AT 7.1229 OFFSHORE CLOSED DOWN AT 7.1218/ Oil UP TO 63.59 dollars per barrel for WTI and BRENT UP TO 67.26 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN TRADING :/ONSHORE YUAN DOWN IN TRADING AT 7.1229 AND WEAKER//OFF SHORE YUAN TRADING DOWN TO 7.1218 AGAINST US DOLLAR/ AND THUS WEAKER
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS WEDNESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN TO 7.1229
OFFSHORE YUAN: UP TO 7.1218
HANG SENG CLOSED DOWN 94.25 PTS OR 0.36%
2. Nikkei closed UP 534.83 PTS OR 1.22%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX DOWN TO 97.53 EURO FALLS TO 1.1693 DOWN 9 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +1.575//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 147.82…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA. JAPAN 30 YR BOND YIELD: 3.232 DOWN 2 BASIS PTS.
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: DOWN OFFSHORE: DOWN
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and UP FOR BRENT this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.6599 Italian 10 Yr bond yield DOWN to 3.494 SPAIN 10 YR BOND YIELD DOWN TO 3.233
3i Greek 10 year bond yield UP TO 3.355
3j Gold at $3627.00 Silver at: 41.04 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 61 /100 roubles/dollar; ROUBLE AT 85.11
3m oil (WTI) into the 63 dollar handle for WTI and 66 handle for Brent/
3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/
JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 147.82/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.575% STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE IS NOW UNWINDING.//JAPAN 30 YR: 3.234 DOWN 2 BASIS PTS.
30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.7994 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9347 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: 4.049 UP 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.705 UP 3 BASIS PTS/
USA 2 YR BOND YIELD: 3.550 UP 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 41.30
10 YR UK BOND YIELD: 4.6380 UP 0 PTS ESCALATING RAPIDLY
30 YR UK BOND YIELD: 5.479 UP 0 BASIS PTS
10 YR CANADA BOND YIELD: 3.176 DOWN 0 BASIS PTS
5 YR CANADA BOND YIELD: 2.7550 DOWN 1 BASIS PTS.
2a New York OPENING REPORT
Futures Rise To New All Time High Ahead Of CPI Report
Thursday, Sep 11, 2025 – 08:20 AM
US equity futures have a slight bid into today’s CPI print – the last key macro datapoint ahead of next week’s rate decision – rising to another daily record high, let by Tech. As of 8:10am, S&P futures rise 0.2% after back-to-back all-time highs while Nasdaq 100 futures rise 0.3% with AAPL and AMZN leading the Mag7 higher and ORCL +1.4% after its +36% move yesterday. In a familiar pattern this week, Cyclicals are outperforming Defensives pre-mkt. European stocks also drifted higher while Chinese stocks capped their biggest advance since March, led by companies seen as major beneficiaries of the nation’s push for homegrown technology. Treasuries held steady, with the 10-year yield at 4.05%; the USD is up small as the yen slumps after prominent LDP dove and conservative Sanae Takaichi said she is running for PM; commodities are seeing some profit-taking with both Energy and Metals lower. CPI and Jobless Claims are the focus for today as investors solidify views into next week’s Fed as well as Oct / Dec meetings.
In premarket trading, Mag 7 stocks are all higher (Tesla +1%, Amazon +0.6%, Nvidia +0.5%, Microsoft +0.4%, Meta Platforms +0.3%, Apple +0.2%, Alphabet +0.1%).
- Avidity Biosciences (RNA) plunges 19% after offering $500 million in shares, planning to use some of the proceeds to advance clinical programs.
- Ecovyst Inc. (ECVT) climbs 8% after Technip Energies NV agreed to buy the company’s advanced materials & catalysts business.
- Opendoor Technologies Inc. (OPEN) shares soar 36% after the company said co-founders Keith Rabois and Eric Wu will rejoin the board and named Shopify’s Kaz Nejatian as chief executive officer.
- Oxford Industries (OXM) jumps 18% after the Tommy Bahama owner posted second-quarter profit that beat expectations.
- Red Cat Holdings (RCAT) rises 9% after the drone company said its Black Widow System has been approved and added to the NATO Support and Procurement Agency catalog.
- Revolution Medicines (RVMD) gains 9% after the company reported updates from Phase 1 trials of daraxonrasib in pancreatic cancer.
In corporate news, Citigroup’s CEO sees a pickup in dealmaking as US companies gain confidence from clearer policy signals. Real estate giant Brookfield has declared the debate over remote work is over. Tricolor, a used car seller and subprime lender that focuses on undocumented immigrants in the US Southwest, filed to liquidate in bankruptcy.
Expectations that the Fed will resume monetary easing this month have soared in recent weeks, as data increasingly point to a US labor market under strain. Wednesday’s surprise decline in producer inflation further bolstered the view that tariffs are not placing excessive pressure on prices. Core CPI, a measure of underlying inflation excluding food and fuel, likely rose 0.3% for a second month, according to the median estimate in a Bloomberg survey (our preview is here). Money markets are currently betting on as many as three quarter-point cuts by December, with some wagers pointing to a jumbo 50-basis-point reduction when the Fed meets next week.
A softer-than-expected print could fuel bets on an initial outsized cut, while a stronger reading would bolster the case for more gradual moves.
“Even if we do have a bit of a bump in CPI, there is a theory that it can be short-term, driven by tariffs,” said Nataliia Lipikhina, head of EMEA equity strategy at JPMorgan Private Bank. “As long as it is not such a big increase, I don’t think you’ll see a very big negative reaction on the market.”
Bloomberg economist Anna Wong expects a hot CPI number driven by discretionary services like airfares and hotels. “Ironically, those gains are the indirect result of easing financial conditions spurred by the reduction of tariffs,” she wrote. Wall Street desks, as we wrote yesterday, expect a muted reaction from stocks. Market drift on Wednesday afternoon and a barbell performance within indexes coincides with some investors bidding up put options to protect this year’s gains. At the same time, a key momentum indicator is flashing warning signs, with the 14-day RSI showing negative divergence with the index. That means while the broader market is grinding higher, its underlying strength is fading.
Equity investors are weighing diverging narratives: easier financial conditions are sustaining the rally, especially with Fed easing on the horizon, yet Wednesday’s PPI data also showed tightening trade margins as inflation is not being passed through to consumers — casting doubt on optimistic earnings forecasts. A weak US CPI print later today could prompt the market to “romance” the idea of a 50-bps rate cut week, but a series of quarter-point reductions is more likely, according to JPMorgan AM. Elsewhere in strategy, JPMorgan said US share buybacks could jump by $600 billion over the coming years as repurchases increase from the $1.5 trillion record expected in 2025.
The prevailing bullish sentiment carries the risk of a volatility comeback. Strategists warn that after one of the strongest rallies in decades, a measure of caution is warranted, especially with stretched positioning, the aggressive pricing in of rate cuts and the seasonally weak September-October period.
“The market has been steadily pricing in a Goldilocks scenario where soft data was perceived positively — ‘bad is good’ — as long as it improved the odds of rate cuts,” said JPMorgan strategists led by Dubravko Lakos-Bujas. After a weak payroll print, “the ‘bad has become less good.’ If inflation comes in hotter this week, we see the current Goldilocks market positioning at risk of correcting.”
In Europe, the Stoxx 600 rose 0.3%, with travel and construction shares leading gains, while automobile and mining stocks are the biggest laggards. re are the biggest movers Thursday:
- Buzzi rises as much as 7.2% after JPMorgan upgrades to overweight, with the bank saying it prefers heavyside exposure within European building materials
- Technip Energies shares rise as much as 5.8% to their highest value on record after the engineering and technology company announced the acquisition of Ecovyst’s Advanced Materials & Catalysts business
- Tate & Lyle shares rise as much as 3.8%, the most since July, as BNP Paribas Exane analysts suggest the ingredients group could be a takeover target
- Covestro rises 8.1% in Frankfurt trading after Reuters reported ADNOC is said to be readying remedies to address an EU subsidy investigation into its bid for the German chemical maker that will likely see it convert a proposed €1.2 billion ($1.4 billion) capital hike to a shareholder loan
- Energean shares gain as much as 2.2%, reversing earlier losses. The oil and gas company delivered what analysts saw as a relatively robust set of results following a mandated and temporary shut-in of its operations in Israel during the period
- Playtech surges as much as 12%, the most in a year, following the gambling technology provider’s first-half results, which analysts say demonstrate a solid performance
- THG PLC shares rise as much as 8.8%, most since June, after the online retailer reported a strong outlook for the second half of the year. Peel Hunt analysts flag the nutrition division’s growing momentum
- Novo Nordisk shares drop as much as 2.4%, paring some of Wednesday’s advance following the Danish drugmaker’s plans to cut jobs
- Rusta falls as much as 12%, the most since its October 2023 IPO, after the Swedish discount retail group reported its latest earnings
- Avio shares declined as much as 10% in Milan trading, the most since December 2022, after Bloomberg reported that the Italian rocket maker may consider a capital increase to strengthen its satellite-launch business
Earlier in the session, Asian equities struggled for direction after a five-day rally, as gains in mainland China countered declines in Hong Kong. The MSCI Asia Pacific Index traded in a narrow range. Hong Kong megacaps including Meituan and Tencent weighed on the regional gauge. Taiwan’s heavyweight component TSMC climbed to a new high as the chipmaker’s sales report added further optimism on the AI trade. China’s CSI 300 Index jumped 2.3%, driven by shares of companies that are seen as major beneficiaries of the nation’s push for homegrown technology. US investor interest in Chinese equities has jumped to the highest since the Covid pandemic due to the Asian nation’s tech innovation, steps to stabilize the economy and improving liquidity, according to Morgan Stanley. The onshore market rally was “mostly driven by the AI craze,” said Steven Luk, chief executive officer at FountainCap Research & Investment in Hong Kong. Oracle’s deal with OpenAI also “boosted demand outlook for upstream and downstream AI related names in China,” he said.
“Asia stocks are drifting with little conviction as investors await the next big cue — US CPI due tonight,” said Hebe Chen, an analyst at Vantage Markets in Melbourne. “Markets feel like they’re treading water, holding gains, but reluctant to chase ahead of an inflation print that could lay the final stone for next week’s Fed cut.”
In Fx, the yen slipped after reports that hard-line conservative Sanae Takaichi will run for of Japan’s ruling LDP. Treasuries were little changed and bund yields ticked higher at the short end before the ECB.
In rates, treasury yields are within a basis point of Wednesday’s closing levels ahead of Thursday’s August CPI report, weekly jobless claims data and 30-year bond reopening. Bunds underperform slightly before ECB rate decision at 8:15am New York time. In Asia, the yen slipped after reports that hard-line conservative Sanae Takaichi will run for of Japan’s ruling LDP. US 10-year is little changed near 4.05% with German counterpart about 1bp cheaper on the day. Curve spreads hold most of Wednesday’s sharp flattening move on the back of strong demand for 10-year note auction. Auction drew lower-than-anticipated yields and produced record-low allotments to primary dealers, signs of strong demand from end users.
In commodities, brent traded above $67 even as the IEA said the record oil surplus for next year is looking even bigger. Gold retreated from a record, down $25 to about $3,616 an ounce.
Turning to the day ahead now, US economic data slate includes August CPI and weekly jobless claims (8:30am), 2Q household change in net worth (12pm) and August Federal budget balance (2pm). Elsewhere, the ECB will be making their latest policy decision.
Market Snapshot
- S&P 500 mini +0.1%
- Nasdaq 100 mini +0.2%
- Russell 2000 mini little changed
- Stoxx Europe 600 +0.2%
- DAX little changed, CAC 40 +0.7%
- 10-year Treasury yield +1 basis point at 4.05%
- VIX -0.2 points at 15.19
- Bloomberg Dollar Index +0.2% at 1202.92
- euro little changed at $1.1687
- WTI crude -0.4% at $63.42/barrel
Top Overnight News
- Manhunt underway after conservative activist Charlie Kirk shot dead on Utah campus: RTRS
- Reports that U.S. President Donald Trump asked the European Union to slap tariffs of up to 100% on China and India for their Russian oil purchases has raised eyebrows on both sides of the Atlantic, with Europe seen as unlikely to acquiesce to the White House’s request. CNBC
- US President Trump’s administration appealed the court ruling blocking the removal of Fed Governor Cook.
- G7 sovereign debt levels becoming a growing concern for investors as yields creep higher on back of extreme fiscal imbalances, political instability, and elevated inflation, with a particular focus on France, the UK, the US, and Japan. RTRS
- Stephen Miran, Trump’s temporary Federsal Reserve pick, could be confirmed to the Fed as soon as Monday, allowing him to participate in next week’s FOMC meeting. Politico
- China is preparing to tackle a backlog of unpaid local government bills to the private sector, people familiar said, with some estimates putting the arrears at more than $1 trillion. BBG
- Hong Kong regulators have begun allowing companies to avoid stringent rules on bond issuances and share buybacks, following the success of a $5bn transaction launched by Alibaba last year. FT
- The Bank of Japan is firming up a strategy to unload its huge holdings of risky assets that will likely center on a plan to gradually sell exchange-traded funds (ETF) in the market. RTRS
- The US immigration raid that detained hundreds of South Korean workers may have a “significant impact” on future investments, President Lee Jae Myung warned. The 330 people are scheduled to return home today on a charter flight. BBG
- The IEA expects an oil glut next year, forecasting supply will exceed demand by 3.33 million barrels a day. The US and Brazil will lead non-OPEC+ growth at twice the pace of demand. OPEC’s monthly report is due next. BBG
- Goldman expects a 0.36% increase in August core CPI (vs. +0.3% consensus), corresponding to a year-over-year rate of 3.13% (vs. +3.1% consensus). It expects a 0.37% increase in headline CPI (vs. +0.3% consensus), reflecting higher food (+0.35%) and energy (+0.6%) prices: GIR
Trade/Tariffs
- South Korean President Lee said there will be more ways to negotiate with the US, and a final conclusion on trade negotiations with the US is expected to be rational, while he added they are in discussions with the US to operate visa systems normally and that Korean businesses will now be hesitant about investing in the US following the immigration raid. Lee also noted that various factors are involved in trade negotiations with the US, including nuclear material reprocessing and defence costs. Furthermore, South Korea’s Industry Minister is to travel to the US today for follow-up trade negotiations.
- US President Trump reportedly halted the deportation of Korean workers to encourage them to train Americans, and Seoul officials said Trump gave those at the Hyundai Motor (005380 KS)-LG Energy Solution (373220 KS) battery plant an option to stay, according to FT.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks followed suit to the mixed performance stateside, where the S&P 500 and Nasdaq printed fresh record highs after cooler-than-expected PPI data, but with some cautiousness seen as participants braced for the incoming US CPI report. ASX 200 was subdued in the absence of any notable data or drivers, and with the downside led by healthcare, consumer discretionary and financials. Nikkei 225 returned to above the 44,000 level and extended on record highs despite mixed data. Hang Seng and Shanghai Comp were mixed with the Hong Kong benchmark dragged lower by pharmaceutical stocks after reports that the US is considering severe restrictions on medicines from China, while the mainland was underpinned after recent policy pledges by China’s state planner.
Top Asian News
- BoJ is firming up a strategy to unload its huge ETF holdings and is centring on gradual market sales, according to sources cited by Reuters, who added there is no consensus yet on the timing, with political uncertainty complicating the decision.
- South Korean President Lee held a conference on his first 100 days in office, where he stated the domestic economic indicators are showing signs of recovery and the stock market is recovering at a fast pace, while he added that measures on stabilising property prices will continue to be rolled out. Lee said unreasonably undervalued stocks are prevalent in the South Korean market and tax policies can be modified to revitalise stock markets, but noted that capital gains tax rules will not change, and he will leave it to Parliament to decide on capital gains tax rules. Furthermore, he said it is time for expansionary fiscal policy to achieve economic growth, even if it raises national debt.
- China is said to be mulling aiding local governments with USD 1tln of bills, according to Bloomberg sources. Chinese government reportedly considers directing state lenders and policy banks to provide loans to local authorities for overdue payments.
- Japan LDP senior member Takaichi confirmed that they will be running for LDP leadership, via Newsjp.
European bourses (STOXX 600 +0.4%) are modestly firmer across the board, with some outperformance in the CAC 40 (+0.7%). European sectors hold a strong positive bias, albeit with the breadth of the market fairly narrow. There are only a handful of industries holding marginally in the red. Retail is once again leading the pile, continuing the strength seen in the prior session. Energy follows closely behind, and Construction & Materials completes the top three.
Top European News
- UK Chancellor commits to exploring pro-growth tax reforms to support small businesses expanding operations.
- Germany’s BGA Trade Association says German exports are expected to fall 2.5% in 2025 and imports to rise 4.5%.
FX
- DXY is fractionally higher following an indecisive session on Wednesday in the wake of soft PPI metrics and in the run-up to today’s CPI report. Expectations are for core M/M CPI to remain at 0.3% with the Y/Y rate seen holding steady at 3.1%. As such, the desk notes that the report “reinforces confidence that the upcoming CPI print is unlikely to exceed 0.3% M/M”. Elsewhere on the data slate are the weekly jobs figures with initial claims expected to slip to 235k from 23k. DXY has ventured as high as 97.96 with attention on a test of 98.00; not breached since 5th September.
- EUR is steady vs. the USD ahead of the latest ECB policy decision, which is widely expected to see policymakers stand pat on the Deposit Rate at 2%. These expectations come off the back of the EU-US trade agreement, resilient growth in the face of trade tensions and a modest uptick in inflation. Ahead focus will be on clarity on the split of the Governing Council and any potential guidance on the monetary policy path. EUR/USD has slipped back onto a 1.16 handle but is holding above Wednesday’s low at 1.1683.
- JPY sits at the bottom of the G10 leaderboard and has extended its mild losses vs. the USD seen on Wednesday. From a macro perspective, today’s session has been lacking in Japanese-specific updates, but traders remain mindful of political risk and its potential impact on the BoJ. USD/JPY has ventured as high as 147.96 with focus on a test of 148 to the upside.
- GBP is a touch softer vs. the USD as incremental macro drivers for the UK remain on the light side. Concerns over longer-term UK borrowing costs have temporarily abated with the 30yr yield having pulled back to circa 5.48% from its recent multi-decade high at 5.752% printed on 3rd September. GBP/USD is currently holding above the 1.35 mark after basing out at 1.3502.
- Antipodeans are both marginally softer vs. the USD with not much in the way of incremental newsflow for the pair.
- PBoC set USD/CNY mid-point at 7.1034 vs exp. 7.1157 (Prev. 7.1062)
Fixed Income
- USTs are softer, as was the case at this point on Wednesday. Once again, the action is relatively modest in nature as the complex awaits CPI and thereafter 30yr supply. Into the above, USTs at the low end of a 113-12 to 113-15+ band. Entirely within Wednesday’s 113-05 to 113-20 parameters; as a reminder, PPI drove USTs higher, but the mentioned peak printed a few hours later after the strong 10yr auction.
- Bunds began the morning firmer by 14 ticks at best, notching a 129.28 peak and matching Tuesday’s high but stopping shy of 129.33 and 129.44 from Monday and Wednesday respectively. However, initial impetus faded into the European cash equity open. A move that occurred alongside a broader modest pullback in the fixed income space and as the USD strengthened. No fresh fundamental catalysts emerged at the time. All focus now turns to the ECB. The Deposit Rate is expected to be maintained at 2.00%. Focus for the meeting will be on any insight into the divide between the doves/hawks, a point that could become starker depending on how the 2026 inflation forecast develops, with desks of the view that it will tick higher from 1.6% but remain beneath the 2% target.
- Gilts saw a softer start to the day, opened lower by just under 10 ticks and then slipped further to notch a 91.22 low. Action that followed the modest bearish bias that was in play for peers at that point. Since, Gilts have managed to lift off this low and move into the green, higher by near 15 ticks at best but stalling 11 ticks shy of Wednesday’s 91.58 peak. Upside that comes as Gilts are perhaps able to trade a little more freely than peers, as the UK docket is a very light one.
- UK DMO sells GBP 1bln 4.25% 2032 Gilt; b/c 3.72, average yield 4.206%.
- Italy sells EUR 3.25bln vs exp. EUR 2.75-3.25bln 2.35% 2029 & EUR 1.5bln vs exp. EUR 1.25-1.5bln 4.00% 2030 BTP.
Commodities
- Crude was subdued in early European hours following an uneventful APAC session and after their recent advances, which were facilitated by geopolitical developments in the Middle East and Eastern Europe, with an uplift seen after comments from US President Trump, who posted “What’s with Russia violating Poland’s airspace with drones? Here we go!”. The modest downside comes amid a cautious mood ahead of US CPI and ECB, whilst this morning the IEA raises its 2025 world oil demand growth forecast to 740k BPD (prev. 680k BPD), and maintains its 2026 forecast at 700k BPD. Some modest upside seen on commentary via Poland, Ukraine and Lithuania who said the Russian drone incursion is an unprecedented provocation. WTI currently resides in a narrow 63.34-63.80/bbl range while Brent sits in a USD 67.21-67.62/bbl range.
- Mixed trade across precious metals, with gold and silver taking a breather following recent advances ahead of US CPI. Spot gold currently resides in a USD 3,614.32-3,649.35/oz range and within Wednesday’s USD 3,620.13-3,657.61/oz range. All-time high still sits at USD 3,674.69/oz printed on 9th September.
- Copper futures gradually pulled back from Wednesday’s peak and eventually the USD 10k/t mark, with price action contained alongside the cautious risk sentiment heading into US CPI and the ECB, with the latter expected to hold rates at 2% for a second meeting. Attention will centre on guidance regarding further easing and the split of views on the Governing Council.
- IEA OMR: IEA raises 2025 world oil demand growth forecast to 740k BPD (prev. 680k BPD); 2026 growth forecast maintained at 700k BPD.
- Saudi Aramco has reportedly asked buyers to lift more October oil after recent deeper-than-expected price cuts, according to Reuters sources.
Geopolitics: Middle East
- Qatar said it condemns Israeli PM Netanyahu’s explicit threats of future violations to state sovereignty, and it will work with its partners to ensure Netanyahu is held accountable.
- US President Trump reportedly had a heated call with Israeli Prime Minister Benjamin Netanyahu on Tuesday regarding the Israeli strike in Qatar, according to senior US administration officials cited by WSJ.
- US Pentagon approved an estimated USD 14.2mln presidential drawdown authority package for Lebanon, which will build the capacity of Lebanese armed forces to dismantle weapons caches and military infrastructure of non-state groups, including Hezbollah.
- Doha is to host emergency Arab-Islamic summit on Sunday and Monday amid discussions over Israeli attacks on Gaza, according to the Qatar News Agency.
Geopolitics: Ukraine
- French President Macron said he discussed with US President Trump the troubling developments in Russia’s war of aggression against Ukraine.
- The UN Security Council was asked by five members to meet on Friday over Russia’s violations of Polish airspace.
- EU said sanctions against Russia are to be increased significantly, and the EU foreign policy chief commented that the serious violation of European airspace strengthens their resolve to support Ukraine.
- Foreign ministers of Poland, Ukraine and Lithuania warn of deliberate Russian drone incursion, call it unprecedented provocation. Ministers urge partners to bolster Ukraine’s air defence and extend support to Lithuania and Poland amid escalating tensions
Geopolitics: Other
- South Korean President Lee said North Korea’s reaction has been cold but stated that no matter how North Korea reacts, easing tensions will benefit South Korea, while he added North Korea’s nuclear and missile programs are a complex issue directly involving the US. Furthermore, he said South Korea doesn’t necessarily have to lead in improving relations with North Korea and that US President Trump can have the most powerful influence on North Korea issues, as well as noted that they will keep trying to restore trust with North Korea.
- North Korea’s leader Kim is believed to be expanding ties with China following his visit to China, and there is a higher chance that China will support North Korea via unofficial trade, according to South Korean lawmakers citing South Korea’s spy agency.
- The Philippines Foreign Ministry strongly protested the recent approval by China’s State Council of the establishment of the Kuanyan Island National Nature Reserve, and urged China to respect the sovereignty and jurisdiction of the Philippines over Scarborough Shoal, while the Philippines also urged China to refrain from enforcing and immediately withdraw its State Council issuance.
US Event Calendar
- 8:30 am: Aug CPI MoM, est. 0.3%, prior 0.2%
- 8:30 am: Aug CPI Ex Food and Energy MoM, est. 0.3%, prior 0.3%
- 8:30 am: Aug CPI YoY, est. 2.9%, prior 2.7%
- 8:30 am: Aug CPI Ex Food and Energy YoY, est. 3.1%, prior 3.1%
- 8:30 am: Aug CPI Index NSA, est. 323.94, prior 323.05
- 8:30 am: Aug CPI Core Index SA, est. 329.62, prior 328.66
- 8:30 am: Sep 6 Initial Jobless Claims, est. 235k, prior 237k
- 8:30 am: Aug 30 Continuing Claims, est. 1950k, prior 1940k
- 2:00 pm: Aug Federal Budget Balance, est. -340b, prior -380.08b
DB’s Jim Reid concludes the overnight wrap
Thirty years ago this morning, I stepped into the City for the first time as a fresh-faced graduate trainee, wearing a cheap, ill-fitting suit and brimming with misplaced confidence. I’d been hired with great fanfare by the graduate recruitment team, told I was going to be invaluable to the bank, and walked through the doors convinced I’d be running a major trading book within months.
Fast forward two years, and I was still photocopying and delivering the daily price sheet to 80–100 salespeople and traders, while also fetching their breakfasts and coffees. My spreadsheet skills were honed not through yield curve analysis, but by counting and allocating bacon sandwiches. Every time I raised concerns about my underutilised talents, I was met with a colourful barrage of profanities and told in no uncertain terms that I was lucky to be there—and to shut up and get on with it.
Safe to say, if I tried that management style on juniors today, HR might have a few thoughts.
So I thought I would be the oracle, but I was actually the breakfast strategist. Bagels.. not bonds. 30 years on and it’s a different oracle that has moved market over the last 24 hours as the enterprise software company Oracle rose +35.95% yesterday after the aggressive outlook for its cloud business that we discussed yesterday after its release after hours on Tuesday. This helped drive the S&P 500 (+0.30%) to another record and came alongside a fresh rally for US Treasuries after a soft US PPI reading for August. Next stop CPI today.
So, a perfect alignment of macro and micro. On the macro, the US PPI showed that headline producer prices fell by -0.1% in August (vs. +0.3% expected). Moreover, the previous month’s reading for July also got revised down from +0.9% to +0.7%, so that provided a lot of reassurance that tariff-driven inflation wasn’t obviously showing up. Indeed, the latest print and the revisions pushed the year-on-year PPI reading back to +2.6% (vs. +3.3% expected), which is actually a clear reduction from the start of the year, when it peaked at +3.8% in January. To be fair, the core measures were relatively stronger, and PPI excluding food, energy and trade services was still up +0.3% on the month as expected. Indeed, taking the PPI categories that feed into core PCE – airfares, portfolio investment and medical care services – our US economists see August core PCE inflation tracking at +0.32%, in line with their pre-PPI expectations. But the market focus was very much on the downside surprise in the headline number, as that was seen as giving the Fed more space to cut rates in the months ahead.
Of course, that core PCE signal will depend a lot on today’s CPI print, which our economists expect to come in at +0.36% for headline and +0.32% for core, a touch above consensus (+0.3% for both). That would bring the YoY rate to +2.9% and +3.1% for headline and core respectively. See also the CPI preview from our inflation strategists here for more.
For the Fed, that softness in the PPI print led investors to dial up their expectations for rate cuts this year. By the close, the amount of cuts priced by December was up by +1.5bps on the day to 68bps. In turn, that put downward pressure on Treasury yields across the curve, with the 2yr yield (-1.4bps) down to 3.54%, whilst the 10yr yield (-4.1bps) fell to 4.05%. The front-end rally did reverse a bit later in the day as Brent crude rose +1.66% to $67.49/bbl as investors became wary of possible new Western restrictions targeting Russian oil in response to the incursion of Russian drones into Poland the previous night. Meanwhile, gold prices (+0.39%) continued to benefit as investors priced in more rate cuts, reaching another record high of $3,641/oz.
In the background, there were a few other Fed-related stories, as President Trump continued his criticisms, posting that “Powell is a total disaster, who doesn’t have a clue!!!”. Powell’s term as Chair still goes up until May, but there was progress on Trump’s nominee for the Fed Board of Governors, Stephen Miran, who currently is the chair of the Council of Economic Advisors. Miran’s nomination was approved by the Senate Banking Committee yesterday, who voted by 13-11 in favour on party lines. A full Senate vote is possible as soon as Monday, which could then allow Miran to take part in the FOMC meeting next week. Meanwhile, the US Justice Department yesterday launched an appeal to the federal appeals court against Tuesday’s court decision that temporarily blocked Trump from removing Fed Governor Lisa Cook.
This backdrop of decent micro and macro meant that equities put in another solid session. That pushed the S&P 500 (+0.30%) up to another record high, with the index getting a huge boost from Oracle (+35.95%), which posted its biggest daily gain since 1992. That comfortably left Oracle as the top performer in the entire S&P 500, but it was a more mixed session for other tech shares. Semiconductor stocks rallied, led by a +3.85% gain for Nvidia, but the overall Magnificent 7 (-0.53%) fell back amid sizeable declines for Apple (-3.23%) and Amazon (-3.32%). And for a second day running, a new high for the S&P came despite most of its constituents falling on the day. Meanwhile in Europe, equities were comparatively subdued, with the STOXX 600 -0.02% on the day.
Looking forward, a key highlight today will be the ECB’s latest policy decision, which is being announced at 13:15 London time. They’re widely expected to keep their deposit rate on hold at 2%, which would be the second meeting on hold in a row. In terms of what to expect, our European economists think that President Lagarde will repeat that policy is “in a good place” to navigate uncertainties. So that signals a pause, but without contradicting the data-dependent, meeting-by-meeting approach. It’s also a meeting with new forecasts, and back in June the most recent forecasts showed an undershoot of the inflation target in 2026. So if today’s projections show a deeper or longer undershoot, then they think the pressure for further cuts could build, even if their base case is that we’re already at terminal. For more info, see their full preview here.
Ahead of that meeting, European sovereign bonds were fairly stable, as they didn’t get as much support from the soft PPI print as US Treasuries did. So, yields on 10yr bunds (-0.8ps), OATs (-0.8bps) and BTPs (-1.3bps) only saw modest declines. Interestingly, we did see the French 10yr yield poke above Italy’s again in trading, but it ultimately closed -0.3bps beneath its Italian counterpart. So, we’ve only seen the crossover happen on an intraday basis so far, and you still have to go back to 1999 for the last time that the Italian 10yr yield actually closed beneath its French counterpart.
In France, new prime minister Sebastien Lecornu began his tenure vowing to work hard with opposition parties to resolve the budget challenges. And we heard a tentatively constructive tone on this from the centre-left Socialists as their leader Olivier Faure left open the door to discussions with the new government, while calling for a “budget proposal that spares the working and middle classes”.
Asian equity markets are mostly higher this morning. The Nikkei (+0.90%) is at a new record high following a near +10% surge in tech investment firm SoftBank. Furthermore, the resignation of PM Ishiba continues to foster some expectations that his successor may adopt more expansionary fiscal and monetary policies, which continues to bolster market sentiment. Conversely, the Hang Seng index (-0.37%), which recently reached its highest level in four weeks, has halted its recent rally as Chinese pharmaceutical stocks experience declines due to worries that the Trump administration might impose new restrictions on medicine exports from China. However, a big rebound in mainland stocks is offsetting this, with the CSI (+1.77%) and the Shanghai Composite (+1.12%) both trading significantly higher. Additionally, the KOSPI (+0.40%) is showing resilience, even after the country’s President refrained from abandoning a proposal that would have broadened the pool of stock investors subject to capital gains tax. US equity futures are flat alongside US Treasury yields.
To the day ahead now, and the main data highlight will be the US CPI for August, along with the weekly initial jobless claims. Elsewhere, the ECB will be making their latest policy decision.
2b) European opening report
2c) Asian opening report
Cautious sentiment as European traders look ahead of US CPI and ECB – Newsquawk European Market Open
Thursday, Sep 11, 2025 – 02:05 AM
- APAC stocks followed suit to the mixed performance stateside, where the S&P 500 and Nasdaq printed fresh record highs.
- US President Trump’s administration appealed the court ruling blocking the removal of Fed Governor Cook.
- US Senate Republicans are aiming to confirm President Trump’s temporary Federal Reserve pick Stephen Miran as soon as Monday, according to Politico, citing two sources
- EU is reportedly very unlikely to impose crippling tariffs on India or China, the main buyers of Russian oil, as US President Trump urged the bloc to do so, according to Reuters citing EU sources.
- European equity futures indicate a flat cash market open with Euro Stoxx 50 futures U/C after the cash market closed with losses of 0.1% on Wednesday.
- Looking ahead, highlights include US CPI (Aug) & Jobless Claims, ECB Policy Announcement & Press Conference, CBRT Announcement, IEA & OPEC Monthly Report, Supply from Italy and the US, and Earnings from Adobe.
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SNAPSHOT
US TRADE
EQUITIES
- US stocks traded mixed in which the S&P 500 and Nasdaq Comp. printed fresh record highs, but the DJIA and small-cap Russell 2000 lagged, while sectors were varied with outperformance seen in Utilities, Tech, and Energy, in which Tech names were largely boosted by Oracle (ORCL) after rallying post-earnings with a chunky RPO of USD 455bln as the large backlog of orders only emboldened the high demands for the AI market and helped support AI infrastructure names (semis and cloud providers).
- Nonetheless, the attention was on PPI data, which printed softer-than-expected and spurred upside in treasuries and initially pressured the dollar as it helped ease the sticky inflation fears, amid a deteriorating labour market, although the attention now shifts to the incoming CPI report on Thursday.
- SPX +0.31% at 6,533, NDX +0.04% at 23,849, DJI -0.48% at 45,491, RUT -0.25% at 2,376.
- Click here for a detailed summary.
TARIFFS/TRADE
- EU is reportedly very unlikely to impose crippling tariffs on India or China, the main buyers of Russian oil, as US President Trump urged the bloc to do so, according to Reuters citing EU sources who added that the EU treats tariffs in a different way to sanctions and only imposes them after an investigation that usually lasts months to establish a legally sound justification. Furthermore, an EU diplomat said there are no talks so far on possible tariffs on India or China, while another EU source said such tariffs were risky and could be too broad, as well as noted it was easier to sanction specific entities and open the door to delisting them.
- South Korean President Lee said there will be more ways to negotiate with the US, and a final conclusion on trade negotiations with the US is expected to be rational, while he added they are in discussions with the US to operate visa systems normally and that Korean businesses will now be hesitant about investing in the US following the immigration raid. Lee also noted that various factors are involved in trade negotiations with the US, including nuclear material reprocessing and defence costs. Furthermore, South Korea’s Industry Minister is to travel to the US today for follow-up trade negotiations.
- US President Trump reportedly halted the deportation of Korean workers to encourage them to train Americans, and Seoul officials said Trump gave those at the Hyundai Motor (005380 KS)-LG Energy Solution (373220 KS) battery plant an option to stay, according to FT.
- Mexico’s Economy Minister said a new tariff will be put on light vehicles and auto parts, raising the tariff on cars from Asia, particularly from China, from 20% to 50%.
NOTABLE HEADLINES
- US President Trump’s administration appealed the court ruling blocking the removal of Fed Governor Cook.
- US Senate Republicans are aiming to confirm President Trump’s temporary Federal Reserve pick Stephen Miran as soon as Monday, according to Politico, citing two sources
APAC TRADE
EQUITIES
- APAC stocks followed suit to the mixed performance stateside, where the S&P 500 and Nasdaq printed fresh record highs after cooler-than-expected PPI data, but with some cautiousness seen as participants braced for the incoming US CPI report.
- ASX 200 was subdued in the absence of any notable data or drivers, and with the downside led by healthcare, consumer discretionary and financials.
- Nikkei 225 returned to above the 44,000 level and extended on record highs despite mixed data.
- Hang Seng and Shanghai Comp were mixed with the Hong Kong benchmark dragged lower by pharmaceutical stocks after reports that the US is considering severe restrictions on medicines from China, while the mainland was underpinned after recent policy pledges by China’s state planner.
- US equity futures traded rangebound with participants lacking conviction ahead of US CPI data.
- European equity futures indicate a flat cash market open with Euro Stoxx 50 futures U/C after the cash market closed with losses of 0.1% on Wednesday.
FX
- DXY was rangebound after the prior day’s ultimately flat performance despite the initial knee-jerk selling in reaction to the cooler-than-expected US PPI data, while price action was contained overnight as participants braced for the US CPI data.
- EUR/USD remained lacklustre after reverting to sub-1.1700 territory, and as the focus also turns to the ECB meeting.
- GBP/USD struggled for direction amid little fresh pertinent catalysts for the UK, and after the latest UK RICS House Price survey showed a slowing housing market amid easing buyer demand.
- USD/JPY traded sideways after somewhat mixed data releases and with only marginal tailwinds seen alongside the fresh record highs in Tokyo stocks.
- Antipodeans conformed to the humdrum mood seen across the FX space amid the mixed risk appetite and in the absence of pertinent data releases.
- PBoC set USD/CNY mid-point at 7.1034 vs exp. 7.1157 (Prev. 7.1062)
FIXED INCOME
- 10yr UST futures pared some of its gains after climbing yesterday on the back of softer-than-expected PPI data, with demand constrained overnight ahead of the US CPI report and further supply, including a 30yr bond auction.
- Bund futures lacked conviction ahead of the ECB policy meeting but remain above the 129.00 near-term support level.
- 10yr JGB futures struggled for direction amid a non-committal mood in global peers and after somewhat mixed Japanese data, including PPI Y/Y, which matched estimates.
COMMODITIES
- Crude futures paused overnight following their recent advances, which were facilitated by geopolitical developments in the Middle East and Eastern Europe, with an uplift seen after comments from US President Trump, who posted “What’s with Russia violating Poland’s airspace with drones? Here we go!”.
- Spot gold was contained after hitting fresh record highs earlier this week, and as participants await US CPI data.
- Copper futures gradually pulled back from yesterday’s peak with price action contained alongside the mixed risk sentiment.
CRYPTO
- Bitcoin marginally gained and returned to above the USD 114k level.
NOTABLE ASIA-PAC HEADLINES
- BoJ is firming up a strategy to unload its huge ETF holdings and is centring on gradual market sales, according to sources cited by Reuters, who added there is no consensus yet on the timing, with political uncertainty complicating the decision.
- South Korean President Lee held a conference on his first 100 days in office, where he stated the domestic economic indicators are showing signs of recovery and the stock market is recovering at a fast pace, while he added that measures on stabilising property prices will continue to be rolled out. Lee said unreasonably undervalued stocks are prevalent in the South Korean market and tax policies can be modified to revitalise stock markets, but noted that capital gains tax rules will not change, and he will leave it to Parliament to decide on capital gains tax rules. Furthermore, he said it is time for expansionary fiscal policy to achieve economic growth, even if it raises national debt.
DATA RECAP
- Japanese Corp Goods Price MM (Aug) -0.2% vs. Exp. -0.1% (Prev. 0.2%, Rev. 0.3%)
- Japanese Corp Goods Price YY (Aug) 2.7% vs. Exp. 2.7% (Prev. 2.6%, Rev. 2.5%)
- Japanese Business Survey Index (Q3) 3.8% (Prev. -4.8%)
GEOPOLITICS
MIDDLE EAST
- Israeli PM Netanyahu reportedly threatened Qatar and Turkey with a military attack, according to Tasnim News on X, citing Israeli media.
- Qatar said it condemns Israeli PM Netanyahu’s explicit threats of future violations to state sovereignty, and it will work with its partners to ensure Netanyahu is held accountable.
- Qatari PM said Israeli PM Netanyahu is leading the Middle East to chaos and has been wasting Qatar’s time by engaging in mediation, while he added the entire Gulf region is at risk and Qatar is reassessing everything about its mediating role and Hamas’s future in Qatar. Furthermore, he said Qatari officers injured in the Israeli attack are in critical condition, and there will be a response that is under discussion with partners in the region to the attack in Doha.
- US President Trump reportedly had a heated call with Israeli Prime Minister Benjamin Netanyahu on Tuesday regarding the Israeli strike in Qatar, according to senior US administration officials cited by WSJ.
- US Pentagon approved an estimated USD 14.2mln presidential drawdown authority package for Lebanon, which will build the capacity of Lebanese armed forces to dismantle weapons caches and military infrastructure of non-state groups, including Hezbollah.
RUSSIA-UKRAINE
- Ukrainian President Zelensky said he spoke with European Commission President von der Leyen and discussed work with the US on Russian sanctions. Zelensky also said there must be an appropriate response to the Poland situation and noted they need to work on a joint air defence system and create an effective air shield over Europe, while he added they must respond together to all current challenges and be ready for potential threats to all Europeans in the future. Furthermore, he said they need to significantly increase joint funding for the production of interceptor drones.
- Polish President Nawrocki said he spoke with US President Trump about the Russian violation of Polish airspace, and the conversation is part of a series of consultations he is conducting with allies. It was also reported that Polish PM Tusk said he received offers of support regarding air defence after speaking with European allies.
- French President Macron said he discussed with US President Trump the troubling developments in Russia’s war of aggression against Ukraine.
- The UN Security Council was asked by five members to meet on Friday over Russia’s violations of Polish airspace.
- EU said sanctions against Russia are to be increased significantly, and the EU foreign policy chief commented that the serious violation of European airspace strengthens their resolve to support Ukraine.
OTHER
- South Korean President Lee said North Korea’s reaction has been cold but stated that no matter how North Korea reacts, easing tensions will benefit South Korea, while he added North Korea’s nuclear and missile programs are a complex issue directly involving the US. Furthermore, he said South Korea doesn’t necessarily have to lead in improving relations with North Korea and that US President Trump can have the most powerful influence on North Korea issues, as well as noted that they will keep trying to restore trust with North Korea.
- North Korea’s leader Kim is believed to be expanding ties with China following his visit to China, and there is a higher chance that China will support North Korea via unofficial trade, according to South Korean lawmakers citing South Korea’s spy agency.
- The Philippines Foreign Ministry strongly protested the recent approval by China’s State Council of the establishment of the Kuanyan Island National Nature Reserve, and urged China to respect the sovereignty and jurisdiction of the Philippines over Scarborough Shoal, while the Philippines also urged China to refrain from enforcing and immediately withdraw its State Council issuance.
EU/UK
NOTABLE HEADLINES
DATA RECAP
- UK RICS Housing Survey (Aug) -19.0 vs. Exp. -10.0 (Prev. -13.0)
3A NORTH KOREA/SOUTH KOREA
SOUTH KOREA//NORTH KOREA/
3B JAPAN
3C CHINA
CHINA
4. European affairs and NATO
EUROPE
AMERICAN THINKER.COM
Europe Is A Powder Keg
Thursday, Sep 11, 2025 – 02:00 AM
Authored by J.B.Shurk via AmericanThinker.com,
Americans who don’t spend time in Europe might not fully appreciate what a powder keg the Old World has become.
However bad social relations in the United States now are, they are at least an order of magnitude worse on the other side of the Atlantic. European self-hatred is dissolving traditional cultural bonds. Mass immigration is compounding age-old rivalries.
Europe is one spark away from exploding.
Europe is a perennial battlefield. Many of our ancestors, after all, left the old country to escape religious, economic, and cultural conflicts that had endured for centuries. Those historic grievances — always simmering in times of peace before boiling over into outright violence — are passed from one generation to the next. Modern European nations are the product of two thousand years of shifting borders and alliances, and native Europeans trace their family lineages back to regional tribes whose ancient territories do not fit neatly within the politically drawn maps of today.
If you think geographical accents in America make it tricky for a Mississippian or Minnesotan to communicate effectively with an English-speaker from the Bronx, consider that Europe is home to nearly three hundred native tongues. Switzerland has four national languages — including Romansch, which derives from the spoken Latin of the Roman Empire. The cornucopia of indigenous languages, dialects, vocabularies, and accents makes it possible for local residents of small towns to recognize “outsiders” immediately. Even more impressively, they can usually tell — just by listening — which towns a stranger’s grandparents once called home.
Two world wars — both ignited in Europe and responsible for immense European destruction — propelled a mid-twentieth-century political movement calling for the eradication of national borders. The European intelligentsia who became the founding members of the continent’s fledgling transnational bureaucracy blamed national pride for Europe’s carnage and effectively turned “nationalism” into a dirty word.
Oddly, this was also a time when crumbling empires, such as France and the United Kingdom, were at least tepidly supporting the national independence of former colonies. Likewise, it was the beginning of a half-century U.S.-led campaign to encourage national revolutions in European countries stuck behind the Soviet Union’s Iron Curtain. So Western power brokers framed nationalism as a kind of intolerable ethos on par with Mussolini’s fascism and Hitler’s national socialism while encouraging former nations or proto-nations in Central Europe, Africa, and Asia to break away from the respective empires that controlled them. While Western leaders pushed for the integration of distinct European nations into a single “Union,” they also promoted national independence movements under the rationale that all humans possess a natural right to self-determination.
In the eighty years since the project for European integration began in earnest, those latent contradictions have transformed Europe into a tinderbox with even greater potential energy for self-destruction than existed before WWI and II. While the bureaucratic ruling class has actively repressed the historic identities of native Europeans, it has flooded the continent with foreigners who are encouraged to retain their own cultural identities. In this way, a Hungarian or Pole or Dane who celebrates his country’s unique heritage is denounced as a “far-right nationalist,” while a Frenchman who insists that African and Middle Eastern immigrants assimilate to the European way of life is denounced as a “racist” and “bigot.”
This anti-European monstrosity was created deliberately. Simultaneous suppression of Europeans’ national identities and protections for foreign nationals create a kind of “multiculturalism dynamo” that converts Europeans into something alien. Stripped of their native religion, culture, and historic customs and forced to praise foreign religions, cultures, and customs taking hold in the West’s civilizational void, Europeans are effectively assimilated within their own lands. Europeans are taught to despise their own civilization and to bow down before those who seek to replicate a foreign civilization inside Europe. Europe’s bureaucratic ruling class uses foreigners to beat the Europeanness out of Europeans.
In the United Kingdom, a grassroots movement of ordinary Brits has initiated “Operation: Raise the Colors.” The strategy is simple: British citizens are encouraged to prominently display and wave the Cross of St. George and Union Jack flags.
What could possibly be offensive or dangerous about raising the flags of England and the United Kingdom? Nothing.
Yet the globalist Establishment is losing its collective mind. Leftists insist that the flags should be replaced with something more “multicultural” and that only “far-right racists” would stoop so low as to patriotically raise the country’s flags. Open-borders politicians are calling the flag-waving “extremist,” “hate-filled,” and “white supremacist.” In other words, the British people have forced Britain’s “elites” to acknowledge that they have no loyalty to and only antipathy for the United Kingdom.
This rather anodyne form of political speech is proving remarkably effective at exposing globalism’s suicidal contagion. In London, it is perfectly normal to see so-called “gay pride” flags, “Palestinian” flags, Pakistani flags, Iranian flags, and the flags of almost every third-world nation now offloading its citizens onto the shores of the U.K. If a British citizen were to express outrage over the fact that a panoply of foreign flags is flown brazenly throughout the capital, constables would intimidate the outspoken “offender” into silence by threatening him with prosecution for imaginary “hate speech.” Revealingly, however, these same petty tyrants throw hissy fits when native Brits dare “raise the colors” of their own nation’s historic flags.
Similar movements are picking up steam. Ten years ago, it was more common to see such patriotic displays on the streets of Balkan nations or amid independence parades in the Basque region or other areas of Europe seeking national recognition. Today it is easy to stumble into a sea of Dutch, Danish, German, Italian, Swedish, Norwegian, Finnish, Hungarian, Polish, Czech, or Greek flags when crossing borders. Eighty years after the European Union began constructing its continental empire, the “colonies” appear eager to reclaim their right to self-determination.
I think it’s fair to say that ordinary Europeans are no longer willing to remain quiet as the bureaucratic ruling class kills what’s left of Europe and hands the carcass to foreign conquerors. As an American with absolute fidelity to the millennia-long promises of Western civilization, I find these patriotic revivals timely rebuttals to a globalist Establishment that prefers our death.
I cannot tell you how many times I have come across the words of Welsh poet Dylan Thomas translated into one of Europe’s many native languages. “Do not go gentle into that good night” and “Rage, rage against the dying of the light” show up on message boards like faint heartbeats on an EKG machine. Many in Europe don’t want to die. To live, they’ll have to fight.
END
ECB
ECB Keeps Rates Unchanged As Expected, Euro Drops After 2027 Inflation Forecast Trimmed
Thursday, Sep 11, 2025 – 08:29 AM
As expected, the ECB left its deposit rate unchanged at 2% and maintained the data-dependent and meeting-by-meeting language in the statement. It highlighted that inflation is currently at around 2% and fresh projections show it close to that level also in 2027, although while it raised inflation forecasts for 2025 and 2026, it trimmed them for 2027. The growth outlook was also similar to the one from June.
Here are the highlights from the ECB statement (link here):
- Will follow a data-dependent and meeting-by-meeting approach to determining appropriate monetary policy stance
- Reiterates that rate decisions will be based on its assessment of inflation outlook and risks surrounding it, in light of incoming economic and financial data, as well as dynamics of underlying inflation and strength of monetary policy transmission
- Not pre-committing to a particular rate path
INFLATION:
- Inflation is currently at around 2% medium-term target and ECB s assessment of inflation outlook is broadly unchanged
- New staff projections present a picture of inflation similar to that projected in June
ECONOMIC PROJECTIONS:
HICP INFLATION:
- 2025: 2.1% (exp. 2.1%, prev. 2.0%)
- 2026: 1.7% (exp. 1.9%, prev. 1.6%)
- 2027: 1.9% (exp. 2.0%, prev. 2.0%)
HICP CORE INFLATION (EX-ENERGY & FOOD):
- 2025: 2.4% (prev. 2.4%)
- 2026: 1.9% (prev. 1.9%)
- 2027:1.8% (prev. 1.9%)
GDP:
- 2025: 1.2% (exp. 1.1% prev. 0.9%)
- 2026: 1.0% (exp. 1.1 %, prev. 1.1 %)
- 2027: 1.3% (exp. 1.5%, prev. 1.3%)
Market Reaction
In response to the ECB hold, the euro extended an earlier fall, while European government bonds pared losses, after the European Central Bank kept interest rates steady as widely expected but cut its inflation forecast for 2027.
- EUR/USD drops 0.3% to 1.1664, before stabilizing around 1.1670
- German bonds pared losses, with yields on two-year bonds trading one basis point higher at 1.96%
- Traders price a 60% chance of another quarter-point cut by the middle of next year, after paring bets to close to 50% ahead of the meeting
END
FRANCE
far left playing havoc with France;
France In Flames As The ‘Block Everything’ Protest Movement Sweeps The Country
Thursday, Sep 11, 2025 – 07:20 AM
Authored by Rick Moran via PJMedia.com,
France and its hapless President Emmanuel Macron are in deep trouble…
On Monday, Macron’s government failed to survive a “no-confidence” vote as the country spiraled into crisis. What’s most worrying for Macron is that the vote wasn’t even close. Prime Minister François Bayrou was dumped overwhelmingly in a 364-194 vote. At issue: Bayrou’s sensible but unpopular notion that France had to cut spending to address a growing debt crisis.
“Sensible” and “socialism” don’t ordinarily go hand in hand. Thus, in office only since December, Bayrou was given an unceremonious heave-ho.
Macron turned to an old ally to replace Bayrou. He named departing defense minister Sébastien Lecornu to be the fourth prime minister of Macron’s government this year.
Lecornu is the only minister to have been in every government since 2017. He has his work cut out for him. He has to pass a budget by year’s end and deal with a growing protest movement that will fight tooth and nail to prevent Macron’s “austerity budget” from passing.
Macron gambled and called for a “snap” election last year, hoping to increase his slim parliamentary majority. It failed miserably when the populists and the far left made significant gains. Now, the streets are full of angry Frenchmen, and the nation’s stability is in question.
Protesters set fires as they blocked highways and gas stations across France early Wednesday as part of a new nationwide movement. Authorities deployed 80,000 police, who made hundreds of arrests and fired tear gas to disperse crowds.
The “Block Everything” movement was born online over the summer in far-right circles, but spread on social media and was co-opted by left-wing, antifascist and anarchist groups. It now includes France’s far-left parties and the country’s powerful labor unions.
Their joint day of unrest adds to the country’s political turmoil, after the collapse of centrist President Emmanuel Macron’s government earlier this week in a similar backlash over proposed budget cuts and broader anger at the political class.
The far left, the largest bloc in parliament, wants Macron’s scalp. Jean-Luc Mélenchon, the longtime leader of the far-left party France Unbowed, said, “Only the departure of Macron himself can put an end to this sad comedy of contempt for Parliament, voters and political decency.”
Jordan Bardella, the president of the populist National Rally, said his party would give Lecornu the benefit of the doubt and refuse to join the far left in attempting to oust him. But Bardella wasn’t enamored of Lecornu.
“Emmanuel Macron’s motto: you don’t change a losing team,” Bardella wrote on social media. “How could a loyal supporter of the President break with the policy he has been pursuing for eight years?”
In the capital Paris, groups gathered and set up barricades at several entry points to the city. Demonstrations were expected to continue throughout the day, with travel disrupted as some of the main transport unions joined the strike.
Hundreds remained gathered outside Gare du Nord, one of the city’s main train stations, despite earlier attempts from police to disperse the crowds with tear gas.
“We are here, even if Macron doesn’t want us, we are here,” they chanted.
There were dramatic scenes outside a high school in eastern Paris, where police clashed with dozens of students who had blocked entry to the building.
French political observers believe it’s only a matter of time before Macron will be forced to call for another snap election. This would please both the left and the right, who believe they can gain a majority in parliament. The result of another snap election will probably be the same as the last: a hung parliament and more unrest in the streets.
END
EUROPE:
Europe Is A Powder Keg
(AMERICAN THINKER)
A GOOD READ…
Thursday, Sep 11, 2025 – 02:00 AM
Authored by J.B.Shurk via AmericanThinker.com,
Americans who don’t spend time in Europe might not fully appreciate what a powder keg the Old World has become.
However bad social relations in the United States now are, they are at least an order of magnitude worse on the other side of the Atlantic. European self-hatred is dissolving traditional cultural bonds. Mass immigration is compounding age-old rivalries.
Europe is one spark away from exploding.
Europe is a perennial battlefield. Many of our ancestors, after all, left the old country to escape religious, economic, and cultural conflicts that had endured for centuries. Those historic grievances — always simmering in times of peace before boiling over into outright violence — are passed from one generation to the next. Modern European nations are the product of two thousand years of shifting borders and alliances, and native Europeans trace their family lineages back to regional tribes whose ancient territories do not fit neatly within the politically drawn maps of today.
If you think geographical accents in America make it tricky for a Mississippian or Minnesotan to communicate effectively with an English-speaker from the Bronx, consider that Europe is home to nearly three hundred native tongues. Switzerland has four national languages — including Romansch, which derives from the spoken Latin of the Roman Empire. The cornucopia of indigenous languages, dialects, vocabularies, and accents makes it possible for local residents of small towns to recognize “outsiders” immediately. Even more impressively, they can usually tell — just by listening — which towns a stranger’s grandparents once called home.
Two world wars — both ignited in Europe and responsible for immense European destruction — propelled a mid-twentieth-century political movement calling for the eradication of national borders. The European intelligentsia who became the founding members of the continent’s fledgling transnational bureaucracy blamed national pride for Europe’s carnage and effectively turned “nationalism” into a dirty word.
Oddly, this was also a time when crumbling empires, such as France and the United Kingdom, were at least tepidly supporting the national independence of former colonies. Likewise, it was the beginning of a half-century U.S.-led campaign to encourage national revolutions in European countries stuck behind the Soviet Union’s Iron Curtain. So Western power brokers framed nationalism as a kind of intolerable ethos on par with Mussolini’s fascism and Hitler’s national socialism while encouraging former nations or proto-nations in Central Europe, Africa, and Asia to break away from the respective empires that controlled them. While Western leaders pushed for the integration of distinct European nations into a single “Union,” they also promoted national independence movements under the rationale that all humans possess a natural right to self-determination.
In the eighty years since the project for European integration began in earnest, those latent contradictions have transformed Europe into a tinderbox with even greater potential energy for self-destruction than existed before WWI and II. While the bureaucratic ruling class has actively repressed the historic identities of native Europeans, it has flooded the continent with foreigners who are encouraged to retain their own cultural identities. In this way, a Hungarian or Pole or Dane who celebrates his country’s unique heritage is denounced as a “far-right nationalist,” while a Frenchman who insists that African and Middle Eastern immigrants assimilate to the European way of life is denounced as a “racist” and “bigot.”
This anti-European monstrosity was created deliberately. Simultaneous suppression of Europeans’ national identities and protections for foreign nationals create a kind of “multiculturalism dynamo” that converts Europeans into something alien. Stripped of their native religion, culture, and historic customs and forced to praise foreign religions, cultures, and customs taking hold in the West’s civilizational void, Europeans are effectively assimilated within their own lands. Europeans are taught to despise their own civilization and to bow down before those who seek to replicate a foreign civilization inside Europe. Europe’s bureaucratic ruling class uses foreigners to beat the Europeanness out of Europeans.
In the United Kingdom, a grassroots movement of ordinary Brits has initiated “Operation: Raise the Colors.” The strategy is simple: British citizens are encouraged to prominently display and wave the Cross of St. George and Union Jack flags.
What could possibly be offensive or dangerous about raising the flags of England and the United Kingdom? Nothing.
Yet the globalist Establishment is losing its collective mind. Leftists insist that the flags should be replaced with something more “multicultural” and that only “far-right racists” would stoop so low as to patriotically raise the country’s flags. Open-borders politicians are calling the flag-waving “extremist,” “hate-filled,” and “white supremacist.” In other words, the British people have forced Britain’s “elites” to acknowledge that they have no loyalty to and only antipathy for the United Kingdom.
This rather anodyne form of political speech is proving remarkably effective at exposing globalism’s suicidal contagion. In London, it is perfectly normal to see so-called “gay pride” flags, “Palestinian” flags, Pakistani flags, Iranian flags, and the flags of almost every third-world nation now offloading its citizens onto the shores of the U.K. If a British citizen were to express outrage over the fact that a panoply of foreign flags is flown brazenly throughout the capital, constables would intimidate the outspoken “offender” into silence by threatening him with prosecution for imaginary “hate speech.” Revealingly, however, these same petty tyrants throw hissy fits when native Brits dare “raise the colors” of their own nation’s historic flags.
Similar movements are picking up steam. Ten years ago, it was more common to see such patriotic displays on the streets of Balkan nations or amid independence parades in the Basque region or other areas of Europe seeking national recognition. Today it is easy to stumble into a sea of Dutch, Danish, German, Italian, Swedish, Norwegian, Finnish, Hungarian, Polish, Czech, or Greek flags when crossing borders. Eighty years after the European Union began constructing its continental empire, the “colonies” appear eager to reclaim their right to self-determination.
I think it’s fair to say that ordinary Europeans are no longer willing to remain quiet as the bureaucratic ruling class kills what’s left of Europe and hands the carcass to foreign conquerors. As an American with absolute fidelity to the millennia-long promises of Western civilization, I find these patriotic revivals timely rebuttals to a globalist Establishment that prefers our death.
I cannot tell you how many times I have come across the words of Welsh poet Dylan Thomas translated into one of Europe’s many native languages. “Do not go gentle into that good night” and “Rage, rage against the dying of the light” show up on message boards like faint heartbeats on an EKG machine. Many in Europe don’t want to die. To live, they’ll have to fight.
5. RUSSIA AND MIDDLE EASTERN AFFAIRS
ISRAEL /GAZA/HEZBOLLAH/IRAN/SUMMARY OF THE LAST 24 HR/TBN
ISRAEL VS HAMAS
this is interesting
Anti-Islamic biker gang members hired to guard Gaza aid distribution sites, BBC finds
A contractor of the Gaza Humanitarian Foundation has hired multiple members of a notoriously bigoted biker gang to act as security for the humanitarian sites.
Josh Miller posted a photo of contractors in Gaza with their faces obscured and a “Make Gaza Great Again” sign(photo credit: SCREENSHOT VIA FACEBOOK/SECTION 27A OF THE COPYRIGHT ACT)ByJERUSALEM POST STAFFSEPTEMBER 11, 2025 04:30
Multiple members of an anti-Islamic biker gang have been guarding aid distribution sites in Gaza since early May 2025, according to an investigation done by the BBC.
Members of the Infidels Motorcycle Gang were employed by UG Solutions, an independent contractor hired by the Gaza Humanitarian Foundation (GHF) to oversee security at aid distribution sites within the Gaza Strip.
The GHF is a United States and Israel-backed organization that facilitates the distribution of humanitarian aid to Gazan civilians. The BBC investigation found that 40 people employed by UG Solutions were recruited by Infidels MC.
‘Infidel’ is a term used to refer to “disbelievers” of Islam
The Infidels MC is a biker gang consisting mainly of United States military veterans. Members are notorious for hostility towards followers of Islam, displayed on public, personal social media sites.
According to the BBC investigation, some members of Infidels MC have tattoos of the numbers “1095.” Those numbers refer to the year in which the influential Catholic leader, Pope Urban II, referred to Muslims as a “vile race.”
Members of Muslim civil rights advocacy groups have raised concerns regarding the role of Infidels MC members in distributing aid to the majority-Muslim population of Gaza.
Deputy director of the Council on American-Islamic Relations (CAIR), Edward Ahmed Mitchell, stated that “When you see anti-Muslim bigots today celebrating 1095, celebrating the Crusades, they are celebrating the massacre of Muslims.”
Josh Miller, leader of one UG Solutions security team, owns a company selling apparel featuring slogans such as “Embrace violence” and “Surf all day, rockets all night. Gaza summer ’25.”
Miller posted photos of his team in Gaza holding up “Make Gaza great again” banners featuring the logo of his clothing brand.
GHF has denied responsibility for the deployment of Infidels MC members, stating that they “do not screen for personal hobbies or affiliations unrelated to job performance or security standards.”
END
ISRAEL VS HAMAS
Hamas to resume hostage deal talks despite deadly Israeli strike in Doha, terror group says
The Israeli airstrike also damaged adjacent Hamas offices, including a former site used by Ismail Haniyeh, and multiple villas in the Al-Qatifiyah area.
A damaged building, following an Israeli attack on Hamas leaders, according to an Israeli official, in Doha, Qatar, September 9, 2025(photo credit: REUTERS/IBRAHEEM ABU MUSTAFA)ByJERUSALEM POST STAFFSEPTEMBER 11, 2025 09:25
Despite an Israeli airstrike on Hamas leadership in Doha that killed at least five people, the terror group has decided to continue negotiations aimed at ending the war, sources from the terror group told London-based Arabic newspaper Asharq Al-Awsat on Thursday.
The sources said the political bureau reached a consensus to press ahead with the talks in a manner that secures Palestinian demands, including a complete ceasefire, the withdrawal of Israeli forces from the Gaza Strip, and guarantees regarding Gaza’s future governance.
Hamas is expected to resume contact with mediators in the coming days once the security environment stabilizes. Internal consultations are also planned through secure channels to determine the group’s negotiating strategy, according to the sources.
Two senior members of Hamas’s political bureau were wounded in the strike, including one who remains in serious condition, Hamas claims. Both are receiving treatment under heavy guard at a private hospital in the Qatari capital. The names of the injured officials have not been released.
Hammam al-Hayya, the son of senior Hamas figure Khalil al-Hayya, along with al-Hayya’s office director, Jihad Lubad, three bodyguards, and a Qatari security officer, were killed in the strike.
The success of the strike, and whether it was able to kill the main targets of the leadership, remains to be seen.
The compound contained both offices and residences for senior Hamas leaders and their staff. A villa belonging to al-Hayya was among the hardest hit in a series of four precision strikes, sources said.
Haniyeh’s office damaged in strike
Additional bombs struck areas adjoining the targeted villa, including a former office of Hamas political chief Ismail Haniyeh, who was killed in Tehran on July 31 in an Israeli operation. Hamas leaders were reportedly meeting in that space, located adjacent to al-Hayya’s residence, when one of the bombs exploded. Members of the political bureau who were seated in a distant section of the large office sustained injuries.
According to the sources, Israeli intelligence may have relied on signals from mobile phones to track the meeting location, but failed to account for Hamas’s practice of leaving phones outside high-level gatherings. This, they said, contributed to the high number of casualties among security personnel.
Hamas maintains several residential and operational compounds throughout Doha, and its leadership routinely rotates meeting sites. Additional political bureau offices are located near the site of the strike, but were not affected.
Meeting with Qatari premier canceled
Following the strike, Hamas had been scheduled to meet with Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani to discuss a ceasefire proposal put forward by US President Donald Trump. That meeting was canceled.
The sources repeated Hamas’s accusation, made in an official statement, that the United States was complicit in the Israeli attack. One source claimed that the strike was part of “an American-Israeli trick” designed to lure Hamas leaders into one location for assassination. When the operation failed to eliminate the full leadership, he said, the United States “abandoned it, claiming it was informed only at the last minute and offering flimsy excuses.”
Several Hamas leaders had reportedly flown in from Turkey and Egypt to attend what was described as an expanded leadership meeting.
END
IRAQ
Trump’s threats freed Tsurkov, Hamas should understand this as well, US envoy Boehler tells ‘Post’
In a special interview with the Post, Boehler revealed new details about the behind-the-scenes work that led to Tsurkov’s freedom.
Adam Boehler, US President Donald Trump’s Special Envoy for Hostage Affairs, speaks to the media as he and U.S. Special Envoy to the Middle East Steve Witkoff visit the Hostages Square in Tel Aviv, Israel May 13, 2025.(photo credit: NIR ELIAS/REUTERS)ByAMICHAI STEINSEPTEMBER 10, 2025 21:32Updated: SEPTEMBER 11, 2025 00:05
US Special Envoy for Hostage Response Adam Boehler said that “there’s no feeling like seeing someone freed and realizing it actually happened” after the release of Elizabeth Tsurkov late in an interview with The Jerusalem Post on Wednesday.
Tsurkov, an Israeli citizen and Princeton doctoral student, was abducted in Iraq in March 2023 by the Kataib Hezbollah militia. “I felt a mixture of relief, an overwhelming rush of emotion – because you work so hard, and because you truly come to know the hostage,” Boehler told the Post.
Boehler, who spearheaded months of intensive efforts, played a central role in securing Tsurkov’s release. “The United States did not give anything in return for Tsurkov’s release,” he stressed. “What happened, we believe, is that on Friday, the president signed an executive order stating that the US will impose repercussions—determined by the president—on anyone who takes an ally or an American hostage. We believe her release came in direct response to that.”
In a special interview with the Post, Boehler revealed new details about the behind-the-scenes work that led to Tsurkov’s freedom. “My understanding from what she told us is that she was tortured. Life in captivity was not easy. We didn’t go into detail at that first moment—it’s important she has time to recover, just like every hostage, and that Israel can heal as well. But from what she said, I believe she was tortured.”
Boehler maintained close coordination with Israel’s Hostage and Missing Persons Coordinator, Gal Hirsch, who handled the case from the Israeli side. He was also in direct contact with Tsurkov’s family. “We brought her into the US Embassy. She was extremely emotional, very appreciative of the president,” Boehler recalls.
“I was there when she and her sister Emma spoke for the first time in a very long while. They were both crying. It was a wonderful moment. I felt happy because in these roles, you feel the pain and the relief that Israel feels. It’s a small country, people know each other, and everyone is touched by these cases.”
Boehler was prepared to threaten Kataib Hezbollah, press Iraqi government
Boehler made clear that he was prepared to threaten the terror group and to press the Iraqi government to secure Tsurkov’s freedom. “The release happened because everyone understood—when President Trump threatens, he is serious. Hamas should understand this as well,” he adds.
“These are terrorists holding people. It’s the exact same dynamic. The reality is the president is going to keep fighting. He has done it across the board—for all Americans, and he has made it clear he will continue to fight for Israelis too. We still have two American citizens in Gaza, and he has instructed us to keep working until all the hostages are home.”
END
QATAR/ISRAEL
Israel Suggests Further Attacks On Qatar Possible: “We’ll Get Them Next Time”
Wednesday, Sep 10, 2025 – 08:00 PM
Israel’s leaders are doubling down on (indirect) threats toward Qatar after Tuesday’s surprise strike on a Doha home and office which killed five top Hamas leaders and negotiators.
Qatari leaders have expressed outrage over the violation of their country’s sovereignty, but Israeli Ambassador to the US, Yechiel Leiter, has said Wednesday that Israel could strike Qatar again if it harbors terrorists – though oddly, the Hamas team was there as part of public US-backed diplomatic talks.
“If we didn’t get them this time, we’ll get them the next time,” Amb. Leiter told Fox News. He further declared that the strikes on Qatar’s capital might “actually advance the efforts for a ceasefire and peace.” President Trump had actually said something similar.
“Right now, we may be subject to a little bit of criticism,” the Israeli diplomat said. “They’ll get over it. And Israel is being changed for the better. The region is being changed for the better as we remove these enemies of peace and these enemies of Western civilization from their ability to implement terrorism,” he added.
Israeli Prime Minister Benjamin Netanyahu said something similar, which is sure anger Qatari leaders further. “I say to Qatar and all countries that provide shelter to terrorists, either deport them or bring them to justice. Because if you don’t, we will,” he said.
And referencing 9/11 memorial events in the Wednesday comments, Netanyahu said: “Tomorrow is September 11th. We remember September 11th. On that day, Islamist terrorists committed the worst crime on American soil since the founding of the United States. We also have September 11th.”
He continued, “We remember October 7th. On that day, Islamist terrorists committed the worst crime against the Jewish people since the Holocaust. What did America do in the wake of September 11th? It promised to hunt down the terrorists who committed this terrible crime, wherever they may be.”
This suggests Israel believes itself to have ‘freedom of action’ to conduct ‘counter-terror’ operations across the whole region.
Netanyahu gave his televised address in English:
Meanwhile, Qatar’s relations with the US also looked strained, as its Foreign Ministry has rejected that the country was notified of the attack ahead of time. “I completely reject that the Americans informed us before the attack. Israel’s action is a terrorist act,” a statement said. This despite Doha hosting US CENTCOM operational headquarters, and having close ties with US intelligence as well as Gulf GCC countries.
The Abraham Accords could unravel, or at the very least it is not expected the Trump-brokered pact will expand.
END
QATAR/ISRAEL
(TIMES OF ISRAEL)
this is a good read!!
Netanyahu tells Qatar to expel Hamas chiefs or bring them to justice: ‘If you don’t, we will’
Two senior Hamas officials said injured in strike, one of them critically; Qatari PM says Israeli premier ‘killed any hope’ for the hostages, is dragging region into ‘chaos’
By Lazar Berman, Follow
Nurit Yohanan, Follow
Agencies and ToI StaffToday, 2:07 am
Prime Minister Benjamin Netanyahu speaks in a video message issued on September 10, 2025. (Screenshot/GPO)
Prime Minister Benjamin Netanyahu pushed back on Wednesday against mounting international criticism over Israel’s strike against Hamas leaders in Qatar the previous day, and compared the operation to US actions in the wake of the September 11, 2001, terror attacks, despite the strike ostensibly failing to kill any of its intended targets.
The premier took a defiant tone in an English-language video defending Israel’s actions, and warned Qatar that either it must “expel” the Hamas politburo members or “bring them to justice, because if you don’t, we will.”
Comparing the Hamas-led assault of October 7, 2023, to the September 11 attacks — the anniversary of which is on Thursday — in which close to 3,000 people were killed when four planes were hijacked by Al-Qaeda terrorists, Netanyahu said that Israel “remember[s] October 7,” when “Islamist terrorists committed the worst savagery against the Jewish people since the Holocaust.”
“What did America do in the wake of September 11?” Netanyahu asked. “It promised to hunt down the terrorists who committed this heinous crime, wherever they may be. And it also passed a resolution in the Security Council of the UN, two weeks later, that said that governments cannot give harbor to terrorists.”
Israel followed that approach, said Netanyahu, accusing Qatar of harboring terrorists, financing Hamas and giving its leaders mansions.
“We did exactly what America did when it went after the al-Qaeda terrorists in Afghanistan and after they went and killed Osama bin Laden in Pakistan,” argued Netanyahu, adding that the same countries that applauded the US for killing Bin Laden should be ashamed of themselves for condemning Israel.
Damage is seen after an Israeli strike targeted a compound that hosted Hamas’ political leadership in Doha, Qatar on September 10, 2025 (AFP)
Qatar later hit back at Netanyahu, denouncing his remarks as “reckless” and describing them as “explicit threats of future violations of state sovereignty”.
“Netanyahu is fully aware that the hosting of the Hamas office took place within the framework of Qatar’s mediation efforts requested by the United States and Israel,” the Qatari foreign ministry said in a statement.
“The negotiations were always held in an official and transparent manner, with international support and in the presence of US and Israeli delegations. Netanyahu’s insinuation that Qatar secretly harbored the Hamas delegation is a desperate attempt to justify a crime condemned by the entire world.”
The bold Israeli airstrike on Tuesday targeted a meeting of Hamas’s top leaders as they were said to be gathered in Doha to discuss a new US-sponsored hostage-ceasefire proposal, aimed at ending the war in Gaza.
The gathering was believed to include all of the terror group’s top leadership outside Gaza, including the leader of Hamas’s Gaza units, Khalil al-Hayya; Zaher Jabarin, who leads Hamas in the West Bank; Muhammad Darwish, the head of Hamas’s Shura Council; Nizar Awadallah; and Khaled Mashaal, the head of Hamas abroad.
Hamas has insisted that none of its leadership cadre was killed in the strike, but that five lower-level members were killed, including the son of Khalil al-Hayya — Hamas’s leader for Gaza and its top negotiator — as well as three bodyguards and the head of al-Hayya’s office.
But despite pessimism in Israel over the success of the strike, the Saudi newspaper Asharq Al-Awsat reported that two senior Hamas officials, members of the organization’s political bureau, were wounded in the strike on the Palestinian terror group’s Doha headquarters.
According to the report, one of the two officials — neither of whom was identified by name — was in “critical condition.”
Both officials were hospitalized in a private hospital under heavy security, the report said.
Providing additional details about the strike itself, the newspaper reported that several locations were hit within the complex that houses the Hamas headquarters, including the office of former Hamas leader Ismail Haniyeh, where the meeting was taking place.
Haniyeh was assassinated by Israel in July 2024 while on a visit to Iran.
But it was al-Hayya’s office, not Haniyeh’s, that was the primary target of the attack, the news outlet reported, citing sources familiar with the matter. As the two offices were situated close to one another, one of the bombs struck Haniyeh’s office, wounding two members of the Hamas politburo who were sitting in a distant corner of the office from the point of impact.
Hamas leader Ismail Haniyeh leads other leaders of the terror group in prayer as footage of Hamas’s October 7, 2023, terror attack is aired on TV. Khalil al-Hayya is standing behind him (second from right).(Screen capture/X)
Separately, the sources suggested to the Saudi news outlet that the reason the attack failed to take out any of its intended targets was that Israel relied chiefly on phone geolocation to pinpoint the Hamas leaders’ locations, not knowing that they do not bring their phones with to such meetings, and instead leave them in their offices or with their advisers.
In an official statement regarding the attack, senior Hamas figure Husam Badran issued a statement regarding the strike, arguing that “Israel’s crimes will not affect the decisions of the leadership nor our coordination with the other factions.”
“The criminal occupation is a real threat to the region’s security and stability,” Badran added.
Badran is a senior Hamas leader based abroad, who was believed to have been in Qatar at the time of the strike.
The statement put out in his name appeared to indicate he wasn’t harmed in the strike.
Mossad chief said to have opposed timing of strike
Some Israeli officials, including President Isaac Herzog, continued to defend the strike against Hamas leadership, arguing that it was the terror group, not Israel, preventing a deal from being reached.
Herzog, who is currently on a three-day visit to the UK, told the Daily Mail that Israel went after al-Hayya because he was standing in the way of a hostage release and ceasefire deal.
“We targeted Khalil al-Hayya because he objected to a deal on Gaza. He kept saying ‘Yes, but’ in negotiations,” he said.
Al-Hayya is “number one in Hamas and has the blood of thousands of Israelis on his hands,” Herzog told the outlet ahead of his meeting with British Prime Minister Keir Starmer.
Britain’s Prime Minister Keir Starmer (left) greets President Isaac Herzog on the steps of 10 Downing Street in central London on September 10, 2025. (Toby Shepheard / AFP)
Others, however, were said to be less enthusiastic about the strike, and had expressed reservations about it before it was approved.
According to a Channel 12 report on Wednesday evening, Mossad chief David Barnea had told the premier that he believed it would be a “mistake” to carry out the strike at this time, given that discussions about a ceasefire and hostage deal were ongoing.
Instead, the Mossad head was said to have suggested that Israel wait another week to launch he strike, allowing time for Hamas to respond to the US proposal.
‘Netanyahu killed any hope for hostages’
Meanwhile, Qatari Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani, said in an interview with CNN on Wednesday that there would be a response to Israel’s attack, and that it is currently under discussion with regional partners.
Plans are ongoing for a summit to be held in Doha in the near future around these discussions, al-Thani said, without giving a specific date.
The Qatari prime minister said Doha was reassessing “everything” about its role as a mediator between Israel and Hamas for a Gaza ceasefire, as well as the terror group’s future in Qatar.
Qatar has served as the key intermediary in the nearly two-year war started by Hamas with its brutal cross-border attack on October 7, 2023.
Al Thani said that he had been meeting one of the hostage families the very morning that Israel struck Hamas officials in his country.
The families are “counting on this (ceasefire) mediation. They have no other hope for that,” he said.
But, he said, “what Netanyahu has done yesterday, he just killed any hope for those hostages.”
He accused the premier of dragging the Middle East to “chaos,” and of “wasting” Qatar’s time, indicating that he believes Israel was not genuinely negotiating for an end to the war and the release of the remaining 48 hostages.
He pointed to the indictment against Netanyahu by the International Criminal Court.
“He needs to be brought to justice,” Al Thani said, cautioning that the Gulf region was at risk.
Qatar’s Prime Minister and Foreign Minister Mohammed bin Abdulrahman al-Thani addresses a press conference following Israeli strikes in Doha on September 9, 2025. (Photo by Karim JAAFAR / AFP)
The Gulf state reiterated its condemnation of Israel in messages to the United Nations, calling the strikes “cowardly” violations of the country’s sovereignty, according to the Qatari Foreign Ministry.
In a letter to UN Secretary-General Antonio Guterres, Doha described the attack as “a blatant violation of all international laws and norms,” stressing that “it will not tolerate this reckless Israeli behavior” and repeating that investigations are underway.
Qatar also “requested that the message be circulated to the members of the Security Council and issued as an official document of the Council,” the ministry added.
The UN Security Council was set to discuss the strikes on Wednesday evening.
In a separate statement delivered to the United Nations Human Rights Council in Geneva, Qatar’s representative said that “Israeli violations and crimes” in Gaza have been “extended to the cowardly targeting of residential buildings” housing Hamas members.
The ministry also reported that Qatari Prime Minister and Foreign Minister Mohammed Abdulrahman Al Thani received calls today from the foreign ministers of Saudi Arabia, Oman and the United Arab Emirates, affirming their solidarity with Qatar and their “strong condemnation” of the attack.
Canada examining ties with Israel
Qatar wasn’t alone in its anger over Israel’s actions, as Canadian Foreign Minister Anita Anand said on Wednesday that Ottawa was evaluating its relationship with Israel in its wake.
Anand made her comments when asked whether Canada might follow the lead of the European Commission, which said it would propose the suspension of trade-related measures in a European Union agreement with Israel.
“We are evaluating our relationship with Israel,” Anand told reporters on the sidelines of a meeting of the ruling Liberal Party in Edmonton.
Asked specifically whether Canada was considering any kinds of sanctions against Israel, she replied: “We will continue to evaluate our next steps.”
Across the border, White House officials were said to be no less angry, given that the Hamas officials were meeting to discuss Washington’s plan to end the fighting in Gaza once and for all, the Axios news site reported.
US President Donald Trump has publicly said that he was “not thrilled” about the strikes, given that Qatar is a key US ally and home to the largest US military base in the Middle East.
According to the Axios report, US officials were also angered by the fact that although Israel chose to notify them of the strike, it did so when it was already too late to do anything about it.
A separate report by the Wall Street Journal said Trump told Netanyahu that his decision to target Hamas inside Qatar wasn’t wise. Trump made the comments during what the report described as a heated phone call after the attack, which the US president was angry to hear about from the American military rather than Israel.
According to the newspaper, Netanyahu responded that he had a brief window to launch the strikes and took the opportunity. A second call between the men later on Tuesday was cordial, with Trump asking Netanyahu if the attack had proven successful, the Journal reported, adding that the premier said he didn’t know.
The report also quoted a senior administration official who said Trump is increasingly frustrated with Netanyahu, feeling that the prime minister unilaterally takes moves that box him in and which conflict with his aims in the Middle East.
Israel has not directly addressed US criticism of its actions and Netanyahu avoided all mention of it, while at a cornerstone-laying ceremony for a boardwalk named after the 47th president on Wednesday.
Prime Minister Benjamin Netanyahu, center, at a ceremony in Bat Yam with US Ambassador Mike Huckabee, left, and Bat Yam Mayor Tzvika Brot, September 10, 2025. (Haim Zach/GPO)
Instead, he heaped praise on him, calling him “the best friend Israel has ever had in the White House.”
“He recognized Jerusalem as the capital of Israel, moved the US Embassy there, recognized our sovereignty over the Golan Heights, withdrew from the catastrophic nuclear deal with Iran, helped us confront the Iranian nuclear threat, and did many other things as well,” he said at the Bat Yam ceremony, according to a statement.
“He is a true friend, and I am proud to be here to pay tribute to President Trump,” said Netanyahu, adding that Trump had spoken to him “several times about beachfront properties.”
“He told me that we have wonderful coastal assets here. He spoke about a place located a bit south of here – in Gaza. He said it should become a place of peace, prosperity and good life, not terror. He is right.”
END
QATAR/PALESTINIAN LEADERSHIP IN QATAR
Hamas’ leadership was not hit,’ Qatari expert tells TML, while Israel claims success
Competing narratives from Jerusalem and Doha collide with a contested notification timeline and new doubts about the viability of US-backed talks.
IAF pilots and crew prepare fighter jets for strikes on Houthi targets in Yemen, August 24, 2025(photo credit: IDF Spokesperson’s Unit)ByGIORGIA VALENTE/THE MEDIA LINESEPTEMBER 11, 2025 06:44Updated: SEPTEMBER 11, 2025 07:04
Israel on Tuesday struck a gated compound in Doha’s Leqtaifiya district used by Hamas’ Political Bureau as senior figures weighed a US-backed ceasefire and hostage proposal. According to Israeli media, the attack involved 15 fighter jets, which dropped 10 bombs, killing six people. These included a Qatari security officer and the son of Khalil al-Hayya, a member of Hamas’ five-member temporary governing committee. Hamas said its top leadership survived in what appears to be the first publicly acknowledged Israeli strike on Qatari territory.
For more stories from The Media Line go to themedialine.org
Qatar’s Interior Ministry said the explosions in Doha were caused by an Israeli strike on residential headquarters used by Hamas leaders—an attack that jolted the Gulf state’s mediator role and injected fresh risk into ceasefire diplomacy. Israel’s government publicly asserted the operation was wholly Israeli.
The attack is unprecedented in history
A senior research assistant at a Doha-based policy institute, who spoke to The Media Line on condition of anonymity to discuss security-sensitive matters, said the incident shocked Qatari society: “The attack is unprecedented in history.” He called it “the first Israeli attack ever on a Gulf country” and an assault on “the sovereignty of a Gulf state.” It felt like a blow “to the Gulf as a whole,” he said, noting leaders of Saudi Arabia, Kuwait, and the UAE phoned the emir. “For people inside the country, it was terrifying.” Staff in his office rushed to windows after a shockwave from a blast “right in the middle of Doha,” unlike earlier Iranian strikes outside the city.
Qatar chose to host a terror group on its soil, and that has consequences
Retired Gen. Yossi Kuperwasser, head of the Jerusalem Institute for Strategy and Security, offered to The Media Line a starkly different assessment: “Qatar chose to host a terror group on its soil, and that has consequences.” He argued Doha cannot “hide behind” sovereignty claims, adding, “They were warned again and again that hosting Hamas was a mistake, and they ignored it.”
Israeli officials portrayed the strike as successful; the researcher rejected claims that the operation decapitated the leadership abroad: “This has already been settled: none of the people Israel intended to assassinate were actually hit.” He noted six deaths, including a Qatari citizen, security guards, and the son of Hamas’ chief negotiator, and said branding the strike “a major success” does not match “the reality on the ground.”
Kuperwasser countered that the strike should still be viewed as part of a sustained campaign against Hamas’ external command.
He said senior figures—including Khalil al-Khaya and likely Zahir Jabalin—were meeting to discuss President Trump’s proposal. “It is never possible to guarantee total success in such operations.” Israel has sometimes tried “eight times” before succeeding, he added. “But this strike was precise, and the intention was very clear: to deliver a terrible blow to Hamas.” Officials are “quite confident” in the results.
For years, Qatar has hosted Hamas’ political office—at Washington’s urging in 2011 to keep a negotiation channel open—and it is home to Al Udeid Air Base, a major US installation. Those roles helped make Doha a primary venue for ceasefire and hostage talks alongside Egypt; the strike now raises questions about the durability of that track and the Gulf state’s claim to neutrality.
The researcher warned that neutrality becomes harder to maintain once the neutral party is targeted.
Qatar has cultivated a trusted go-between role, he said, but “when the neutral party is attacked in the heart of its capital city, it comes under immense pressure.” The government wants to “safeguard its sovereignty” while still trying “to find a way forward” for Palestinians and the region.
He added that any response would be “a collective Arab response,” with Algeria seeking an emergency UN Security Council session; the form—political or economic—remains unclear, but “what is certain is that Qatar will not act unilaterally.”
Kuperwasser, by contrast, argued that hosting Hamas itself undermines neutrality.
This strike proves they are not safe anywhere
He said Hamas believed it was “untouchable” in Doha and elsewhere. “This strike proves they are not safe anywhere.” In his view, a country hosting a “terror group” cannot claim neutrality, and others should “stop giving Hamas refuge.”
The strike injected uncertainty into mediation efforts, including a US-backed proposal to free Israeli hostages and shape Gaza’s postwar future. The researcher emphasized Doha’s determination while conceding that prospects are bleak: “Qatari officials have already stated clearly that they will continue their mediation efforts,” and “they will not be deterred by attempts to derail negotiations.” Yet, he said, if one side is killing the other’s negotiators, talks will not “go very far” because such actions are “a bad faith effort” that “undercuts the credibility” of the process.
HOUTHIS/ISRAEL
Israel strikes Houthis, targeting propaganda HQ, camps with operatives
Yemen bombings follow ongoing missile and drone attacks on Israel, including hit on Ramon Airport earlier in the week; Houthis say 35 dead, 131 wounded
By Emanuel Fabian Follow10 September 2025, 8:20 pm
Footage posted to social media shows smoke rising over Sanaa after a reported Israeli airstrike on Yemen, September 10, 2025. (X; used in accordance with Clause 27a of the Copyright Law)
The Israeli Air Force carried out strikes Wednesday in Yemen’s Houthi-held capital of Sanaa and a nearby province, reportedly killing and injuring scores, in response to the Iran-backed group’s repeated attacks on Israel.
In a statement, the Israel Defense Forces said the strikes in Sanaa and in the al-Jawf area north of the capital hit Houthi military camps where operatives were gathered, the headquarters of the terror group’s propaganda division, and a fuel depot.
The Houthis’ health ministry spokesman, Anees Alasbahi, said on X that the strikes killed 35 people and wounded a further 131.
The IDF said the strikes came as a response to the Houthis’ ballistic missile and explosive drone attacks on Israel, the latest coming on Tuesday night. Earlier this week, a Houthi drone struck Ramon Airport in southern Israel.
According to the military, the Houthis’ military propaganda division “is responsible for spreading incitement and propaganda messages in the media, including speeches by the leader Abdul-Malik [al-Houthi] and statements by spokesman Yahya Saree.”
“During the war, the headquarters has spearheaded the regime’s propaganda and psychological terror efforts,” the military said.
Brigadier Yahya Saree Qasim, the spokesman for Yemen’s Houthis, speaks during a protest denouncing US airstrikes on Yemen, in Sanaa on April 18, 2025. (Photo by MOHAMMED HUWAIS / AFP)
The Houthi camps that were struck were used by the Iran-backed group to “plan and execute attacks against the IDF and the State of Israel. The camps also contained operations and intelligence command centers used by the regime,” the IDF added.
The strikes on Wednesday marked the longest flight carried out by the IAF since the fighting began, with fighter jets flying over 2,350 kilometers (1,460 miles) to reach the targets, according to the military.
It involved over 10 IAF fighter jets dropping some 30 munitions on 15 targets in Sanaa and in the al-Jawf area north of the capital, the IDF said. Aeveral aerial refuelings were conducted en route to carrying out the strike and on the return to Israel.
Wednesday’s strike was not the most distant attack of the war — Sanaa is located only some 1,800 kilometers from Israel, but the jets took a detour to avoid Saudi airspace, lengthening their flight. The most distant strike carried out by the IAF in direct air distance was conducted at Iran’s Mashhad Airport in June, some 2,300 kilometers from Israel.
The Houthis in Yemen claimed that their air defenses managed to confront “the Zionist aggression against our country, forcing some of the combat formations to withdraw before carrying out their attack, and foiling the majority of the assault.”
Smoke billows after Israeli strikes on Yemen’s Houthi-held capital Sanaa on September 10, 2025. (Mohammed HUWAIS / AFP)
In a statement, Defense Minister Israel Katz said, “We promised more strikes, and today we dealt another painful blow to the Houthi terror organization in Yemen.”
“The long arm of the State of Israel will reach and strike terrorism wherever it exists and from wherever a threat is posed to our citizens,” he added.
Sunday’s strike marked the 17th time that Israel has attacked the Iran-backed Houthis in Yemen. Most of the strikes have been carried out by Israeli Air Force fighter jets and drones, though some have been conducted by Israeli Navy missile boats.
The last Israeli strike on Yemen, on August 28, killed the prime minister of the Houthi government and at least 11 other ministers.
In the past two weeks, the Houthis have launched at least nine ballistic missiles and 12 drones at Israel. The Houthis last attacked Israel on Tuesday night with a ballistic missile that was intercepted.
Airport staff work to clean up Ramon Airport near Eilat, after a drone launched from Yemen hit the terminal building, September 7, 2025. (Yehuda Ben Itach/Flash90)
The Houthis — whose slogan calls for “Death to America, Death to Israel, [and] a Curse on the Jews” — began attacking Israel and maritime traffic in November 2023, a month after the October 7 Hamas massacre.
The Houthis held their fire when a ceasefire was reached between Israel and Hamas in January 2025. By that point, they had fired over 40 ballistic missiles and dozens of attack drones and cruise missiles at Israel, including one that killed a civilian and wounded several others in Tel Aviv in July 2024, prompting Israel’s first strike in Yemen.
Since March 18, when the IDF resumed its offensive against Hamas in the Gaza Strip, the Houthis in Yemen have launched 81 ballistic missiles and at least 35 drones at Israel. Several of the missiles have fallen short.
IRAN
WEST BANK/ISRAEL/USA
this will be good if Israel takes over the West Bank. They will revert to their original names of Judea and Samaria:
Amb. Huckabee Clarifies The US Won’t Oppose West Bank Annexation
Thursday, Sep 11, 2025 – 05:00 AM
Authored by Dave DeCamp via AntiWar.com,
US Ambassador to Israel Mike Huckabee said in an interview last week that the US has never asked Israel to “not apply sovereignty,” referring to the possibility of Israel annexing parts of the Israeli-occupied West Bank.
“The US has never asked Israel to not apply sovereignty,” Huckabee said, according to a September 5 post from a journalist for Israel’s Channel 14. “I have repeatedly stated that the US respects Israel as a sovereign nation and will not tell Israel what to do. This is also what Secretary Rubio has said as recently as this week.”
Israeli officials said last week that Secretary of State Marco Rubio had signaled to them that the US wouldn’t oppose Israel if it moved to annex the West Bank. He has also said publicly that annexation could be Israel’s response to Western states taking steps toward recognizing a Palestinian state.
Israeli Finance Minister Bezalel Smotrich recently outlined a proposal for annexing 82% of the West Bank and leaving six Palestinian population centers isolated as islands. He said that his plan aims for “maximum territory and minimum Arab population.”
Huckabee has also made clear that the Trump administration doesn’t oppose the recent major expansion of illegal Jewish settlements in the West Bank, which Smotrich said would “erase” the idea of a Palestinian state.
Huckabee has claimed that the settlements are not illegal under international law despite their clear prohibition under the Geneva Convention of 1949, which both the US and Israel have signed and ratified.
Huckabee is a Christian Zionist, and his approach to Israel and Palestine is based on his view that God gave historic Palestine to the modern state of Israel, a theology that is rejected by the Catholic Church, the Orthodox Church, and most other Christian denominations.
When asked in a recent interview with The Jerusalem Post about the growing skepticism of Israel among Americans, Huckabee suggested Christian pastors who didn’t teach his viewpoint were to blame.
“There are pastors in the evangelical world who have not explained to their congregations where the support for Israel comes from biblically,” he said.
END
WEST BANK
IDF soldiers wounded in IED explosion at West Bank crossing near Tulkarm
Following the incident, the IDF has decided to place Tulkarm under lockdown.
Israeli soldiers raid Nur Shams Palestinian refugee camp near Tulkarm, in the West Bank, May 7, 2025.(photo credit: FLASH90)ByTPS, JERUSALEM POST STAFFSEPTEMBER 11, 2025 13:38Updated: SEPTEMBER 11, 2025 14:47
An Israeli armored personnel carrier ran over a bomb in the area of Tulkarm near the Nitzani Oz crossing on Thursday.
Two soldiers were reportedly lightly wounded, and the vehicle was damaged. Palestinian Islamic Jihad claimed responsibility for the attack.
IDF troops have imposed a lockdown on the city and are carrying out roadblocks and inspections in the area, the military said.
It has been five months since IDF troops were involved in an IED explosion in the West Bank, according to Army Radio.
Last month, in mid-August, Defense Minister Israel Katz said that terror attack threats in the West Bank had decreased by 80%.
Jenin, Tulkarm, and Nur Shams refugee camps were “hotbeds of terrorism built with Iranian financing, arms, and guidance as an additional front” in the Axis of Resistance’s fight against Israel, Katz stated.
Offensive against Palestinian refugee camps to target terror
The IDF, in response to this threat, launched an offensive against the refugee camps, which included evacuating residents, killing terrorists, dismantling and destroying terror infrastructure, and maintaining a military presence until at least the end of 2025, according to the defense minister.
This is a developing story.
END
SYRIA/HEZBOLLAH
Syrian government captures Hezbollah cells operating near Israel
The Syrian forces confiscated missile launchers, 19 Grad missiles, anti-tank missiles, individual weapons, and large quantities of various ammunition during the operation
A member of the Syrian security forces stands on a military vehicle after Syrian troops entered the predominantly Druze city of Sweida on Tuesday following two days of clashes, in Sweida, Syria July 15, 2025(photo credit: REUTERS/KARAM AL-MASRI)BySETH J. FRANTZMANSEPTEMBER 11, 2025 14:34
The Syrian transitional government’s Ministry of Interior announced that they have detained a “terrorist cell affiliated with the Hezbollah militia” operating in the towns of Sasa and Kanaker in the western Damascus countryside.
The two towns are around 10 miles from the outskirts of Damascus and also about five miles from the 1974 ceasefire line of Israeli control on the Golan. As such, they are very close to Israel’s current forces operating in the ceasefire zone between Israel and Syria. Sasa is on Route 7, which goes from Damascus to Kfar Arnabeh. Kanaker is a town a mile from Route 7.
According to Syria’s Al-Ikhbariah media, the commander of the Internal Security Forces in the Damascus Countryside Governorate, Brigadier General Ahmed Al-Dalati, “explained that the arrest of the terrorist cell was carried out in cooperation with specialized units and the General Intelligence Service, following close monitoring and intensive field work.”
Dalati was recently moved to command this area of the Damascus countryside after having run security in Suwayda province. His role in Suwayda oversaw the clashes in July and led to a reshuffle in Syrian security forces. This high-profile arrest of Hezbollah activity is one of the first fruits of moving Dalati to the Damascus area.
The report noted, “according to Al-Dalati, initial investigations revealed that the cell members received training in camps inside Lebanese territory and were planning to carry out operations inside Syrian territory that would threaten the security and stability of citizens.”
Hezbollah plans attacks from behind Syrian lines
The Syrian forces confiscated missile launchers, 19 Grad missiles, anti-tank missiles, individual weapons, and large quantities of various ammunition during the operation, the report says. The commander “noted that the case has been referred to the relevant authorities for further legal action, while relevant agencies continue to investigate the detainees to uncover their full affiliations and objectives.”
In July, the IDF twice raided Iranian-linked cells operating near the Golan. When the Assad regime ran Syria there were many Hezbollah-linked cells operating near the Golan. They were part of the “Golan File” of Hezbollah.
Israel targeted a Hezbollah drone unit near the Golan in August 2019. After the fall of the Assad regime, the Iranian-linked groups near the Golan were left in chaos. Hezbollah also suffered blows from Israel in the conflict in 2024, leaving it weaker. It has tried to regrow its operations as it refuses to disarm in Lebanon.
Syria’s new government has intercepted Hezbollah arms shipments. However, Israel demands that southern Syria be demilitarized. This makes Syria’s forces much weaker in Dara’a province and Suwayda. Dara’a is near the Golan. This may be one reason Hezbollah is able to regrow its tentacles. Syria continues to condemn what it sees as Israeli violations in Dara’a, including IDF troop movements into areas Syria claims as Syrian soil.
RUSSIA VS UKRAINE
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUES
BREAKING: FDA Finally Admits Ivermectin Works — After Years of Calling It ‘Horse Paste’
ROBERT H..
I suppose better late than never.
The question is why is big pharma allowed to suppress knowledge from people that can keep people healthy?
It seems more and more than health is something not desirable in an era where drugs are pushed for profit while people suffer.
And yet one would imagine that one of the greatest gifts one can give is health to another person. We only get one body in this existence and whatever we experience is a burden or freedom to carry.
One would think the concept of “do no wrong” should triumph over money.
GLOBAL ISSUES
DR PAUL ALEXANDER
DEVASTATING breaking news, Charlie Kirk, Turning point USA has been shot dead, assassinated! This is sad terrible news & POTUS Trump has confirmed in UTAH! We mourn but this is a different USA today
GUNMAN STILL ON LOOSE; warning graphic video! God bless Charlie, this is horrendous. this shooter must be found and decimated for this…anyone who does this, it is madness in USA today
| Dr. Paul AlexanderSep 10 |
Joe Hoft on X: “God bless Charlie https://t.co/n8Ki25PtAi” / X
KIRK SHOT DEAD IN UTAH
TURNING POINT USA
**WARNING GRAPHIC**
SHOCK VIDEO
GUNMAN STILL ON LOOSE
Charlie Kirk, a close ally of President Trump and the founder of the nation’s pre-eminent right-wing youth activist organization, was fatally shot on Wednesday while speaking at a campus event at Utah Valley University, his spokesman Andrew Kolvet said.
Law enforcement officials are still looking for the shooter, said a university spokeswoman, Ellen Treanor, adding: “There is no suspect in custody; it is an active investigation.” The campus was closed and classes have been canceled.
Charlie Kirk, Turning Point USA founder, dead at 31 after Utah campus shooting
Charlie Kirk is a conservative media personality and co-founder of Turning Point USA. Kirk was visiting Utah Valley University on Wednesday when he was shot. President Donald Trump confirmed the death of Kirk on Wednesday in a Truth Social post.
MARK CRISPIN MILLER
NEWS ADDICTS
NEWSWIZE
EVOL NEWS
| TEST NEWS: |
| Fox News’ Fate Revealed: Lachlan Murdoch Secures Control of Media Empire in $3.3B Family Settlement – EVOL |
| Read more… |
MICHAEL EVERY/OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS
7. OIL ISSUES/NATURAL GAS/ENERGY ISSUES/GLOBAL
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES
NEPAL
CHAOS SUPREME!!
Nepal Army Takes Over Capital As Politicians Flee By Helicopter, Mayhem Worsens
Wednesday, Sep 10, 2025 – 04:40 PM
The collapse of the Nepal government situation has gone from bad to worse overnight and into Wednesday. Parliament has gone up in flames, Prime Minister KP Sharma Oli has resigned, there have been dozens of deaths and injuries – including among some government officials or their families.
Government ministers have been seen fleeing the capital, chased by enraged mobs of mostly youth, sick of government corruption and following the latest attempt to outright ban a large number of popular social media sites, including Facebook, X, Instagram, WhatsApp and YouTube.
But apparently the social media ban days ago was simply the straw that broke the camel’s back. “The unrest started in early September, when a group of young Nepalis, fed up with seeing politicians’ children posting about their designer handbags and luxury travel while most people struggle to make ends meet, organized a peaceful protest,” CNN reviews.
“Anger had been brewing for years about the country’s worsening youth unemployment crisis and lack of economic opportunities, exacerbated by what many viewed as a growing disparity between the country’s elite and regular people,” the report adds.
Residents of top politicians in Kathmandu have been reported attacked and in some cases damaged or set on fire, including the home of the now former prime minister of the country.
Army helicopters were seen ferrying government ministers to safety:
The Finance Minister was beaten by a mob, with some barely escaping the wrath of the rioting…
h
The moment at which police opened fire on crowds was the tipping point, with at least 19 demonstrators killed, as we detailed Tuesday. Even after the social media ban was reversed, the rioting became more intense. The police had merely described using riot control measures like rubber bullets and tear gas.
Part of the outrage among youth was an increasingly feeling of economic isolation from the rest of the world, and little hope for progress, in a tiny mountainous country where personal remittances accounted for over 30% of Nepal’s GDP.
Nepal’s parliament, which was built in 1903, engulfed in flames…
Recent World Bank figures have put youth unemployment of individuals aged 15 to 24 at just over 20%. So when the most popular social media apps were recently banned by the central government, popular rage sparked across the country.
Now, Kathmandu has been taken over by the army, with an effective state of martial law and indefinite curfew on until authorities can restore order. The Army is warning against looting:
The man in the spotlight is General Ashok Raj Sigdel, the Chief of the Army Staff, who has appealed to protesters to engage in talks to find a peaceful way out.
The 58-year-old General, who took over the top post last year, addressed the shaken nation in a televised address last night. “We appeal to the protesting group to halt protest programs and come forward for dialogue for a peaceful way out for the nation. We need to normalize the present difficult situation and protect our historical and national heritage and public as well as private property, and to ensure safety to the general public and diplomatic missions,” he said.
People have been ordered to stay indoors. There are reports of tanks in the streets, with some of the youth claiming that the army troops are on their side, against the police.
END
NEPAL/USA/INDIA
(K0RYBKO)
The US Might Try To Manipulate Nepal Into Weaponizing Its Revived Border Dispute With India
Wednesday, Sep 10, 2025 – 11:50 PM
Authored by Andrew Korybko via Substack,
The student-driven riots that were putatively sparked by the state’s banning of social media after top platforms failed to register in line with the law might be a front for ultra-nationalist extremists backed by the West in a remix of summer 2024’s Bangladeshi regime change model.
Nepal formally complained in late August after China and India agreed to resume their border trade through the Lipulekh crossing. Newly ousted Prime Minister KP Sharma Oli also brought it up during his meeting with President Xi Jinping on the sidelines of the SCO Summit in Tianjin. Kathmandu lays claim to this territory and a mountainous sliver beyond per a colonial-era dispute but only rigorously began pursuing it in the run-up to summer 2020’s Sino-Indo clashes.
This context suggests that Nepal expected Chinese backing against India, calculating that it could benefit from this via privileged economic and military support or at the very least by profiting off of facilitating their trade if their bilateral dispute kept border crossings closed indefinitely. What Oli (who was Prime Minister back then and once again till recently after a three-year hiatus) couldn’t have foreseen, just like mostly everyone else, was the Sino-Indo rapprochement that the US just inadvertently brought about.
He’s a communist with Machiavellian characteristics as proven by the aforementioned foreign policy calculation and his hitherto crafty politicking, but he’s also somewhat of an idealist who simply couldn’t countenance the realpolitik involved in fellow communist China’s latest own calculations vis-à-vis India. Simply put, China’s interests in the present context are best served by prioritizing India’s interests over Nepal’s in those two’s dispute, which appears to have truly caught Oli and his government off guard.
Nevertheless, China’s mercantile move doesn’t come at any tangible expense to Nepal since it hasn’t controlled this territory for over 200 years, but the political consequences might possibly push Nepal to recalibrate its balancing act by leaning more on the US. That’s precisely what India did from 2015 till just recently due to the China-Pakistan Economic Corridor, the flagship project of China’s Belt & Road Initiative, passing through Pakistani-controlled Kashmiri territory that India claims as its own.
India’s pro-US foreign policy recalibration took the form of them comprehensively expanding economic and military ties, while Nepal’s might focus more on developmental assistance such as the almost-cut “Millennium Challenge Corporation”, which is aimed at countering Sino-Indo influence there. Geography limits the extent to which a potentially pro-US Nepal could become a wedge between China and India, but it could still at minimum turn into a bastion of hostile “NGO” operations after Oli’s surprise ouster.
The student-driven riots that were putatively sparked by the state’s banning of social media after top platforms failed to register in line with the law might be a front for ultra-nationalist extremists backed by the West in a remix of summer 2024’s Bangladeshi regime change model. It therefore can’t be ruled out that the new Nepali authorities might be tasked by the US with weaponizing their country’s border dispute with India as punishment for Delhi refusing to submit to Washington’s demands on Russia.
All in all, there are three takeaways from the latest twist in this dispute that suspiciously preceded Oli’s ouster:
1) China is prioritizing India’s interests over Nepal’s in furtherance of its own;
2) Nepalis might be manipulated by the US against both as a result; and
3) this could be weaponized by the new authorities.
The best-case scenario is that they prioritize economic and anti-corruption reforms instead of letting themselves be exploited as geopolitical pawns, but it’s too early to say exactly what they’ll do.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge.
SUDAN
Dangerous as the Muslim brotherhood can knock off oil supplies from the Red Sea
(Gatestone)
Sudan’s Hidden War: Muslim Brotherhood’s Grip On Army Threatens Regional Stability, Global Trade
Thursday, Sep 11, 2025 – 03:30 AM
Authored by Anna Mahjar-Barducci via The Gatestone Institute,
Sudan’s brutal civil war, often overshadowed by global headlines, is not just a clash between the Sudanese Armed Forces (SAF) and their former military allies turned rivals, the Rapid Support Forces (RSF). It is a calculated power grab by the Muslim Brotherhood, which appears to be using the SAF as a Trojan horse to dominate northeast Africa and the Red Sea, a critical artery for global commerce.
Despite recent moves by SAF leader General Abdel Fattah Al-Burhan to curb Islamist influence, presumably at the request of the United States or Egypt, the efforts of the Muslim Brotherhood, which has deep roots in his army, to achieve control of Sudan, northeast Africa and the Red Sea, signal a dangerous threat that could disrupt oil supplies, inflate global prices, and revive Sudan as a terrorist hub, imperiling Western interests.
The Muslim Brotherhood, sponsored by Qatar, appears to be hijacking the SAF to stage a takeover, recycling old alliances under new guises. Despite recent concessions to the United States and Egypt, the Muslim Brotherhood’s grip in Sudan — backed by Qatar and Iran — threatens regional and global stability, potentially including freedom of passage in the Red Sea. The U.S. would do well to intensify sanctions, diplomatic pressure, and support regional actors in efforts to dismantle these networks.
The Muslim Brotherhood’s influence is increasingly recognized as a global threat by governments in countries such as the United States and France. A May 21, 2025 report requested by the French government on the Muslim Brotherhood’s role in France and Europe, detailed the threats posed by the Islamist movement shaping “parallel Islamic ecosystems,” challenging Western secular values.
A Legacy of Islamist Control
Sudan’s descent into chaos began in 1989, when General Omar Al-Bashir, backed by the Muslim Brotherhood’s National Islamic Front, seized power. For three decades, his regime orchestrated genocides in South Sudan and Darfur, sheltered Osama bin Laden from 1992 to 1997, and enabled Al-Qaeda’s attacks, including the 1998 U.S. Embassy bombings in Kenya and Tanzania. Bashir’s regime also funneled Iranian missiles to Hamas in the Gaza Strip, and supported Lord’s Resistance Army in Uganda, making Sudan a global extremist stronghold.
The 2019 ouster of Al-Bashir had sparked hopes for democracy, but Burhan’s 2021 coup against the transitional government and the 2023 war with the RSF, which wanted to defeat Burhan and his Muslim Brotherhood allies and take over the country, crushed those dreams. Beneath the surface, the Muslim Brotherhood — known in Sudan as the Islamic Movement — has entrenched itself in the SAF, and turned it into a tool for their regional ambitions to take control of northeast Africa and the Red Sea.
The Muslim Brotherhood is not just allied with the SAF; individuals in it seem to be steering the SAF to take total control of Sudan in order to make it the Muslim Brotherhood’s stronghold in Africa and the Middle East.
Sudan, at the crossroads of Sub-Saharan Africa and the Middle East, happens to be in an extremely critical strategic position. It has access to the Red Sea and vital trade routes such as the Suez Canal, and is also a crucial transit point for migrants traveling from the Horn of Africa and the Sahel to North Africa, then on to Europe.
The SAF is infiltrated by jihadist factions such as the Al-Bara Bin Malik Brigade (the Muslim Brotherhood’s local military arm), the Bunyan Al-Marsous Brigade, and Justice and Equality Movement rebels led by Finance Minister Jibril Ibrahim. These groups, tied to Bashir’s ruthless National Intelligence and Security Service, frame their fight as a “jihad” against the RSF, which is backed by Sudan’s secular civil society.
Social media videos show the Al-Bara Bin Malik Brigade, in Omdurman, halting RSF advances and bolstering SAF operations in Khartoum. A retired officer told the media that Islamic extremists have filled critical infantry gaps. Ali Ahmed Karti, the U.S.-sanctioned Islamic Movement leader, is, as reported by Arab media outlets, a key orchestrator of the SAF-Muslim Brotherhood alliance. Since his student days, Karti has organized Brotherhood loyalists in the army, and later packed the SAF with jihadists.
Reports in the Saudi newspaper Asharq Al-Awsat reveal that after 1989, the leadership of the Muslim Brotherhood in Sudan, which was aligned with the Bashir government, purged thousands of non-fundamentalist officers, assassinating some, and took control of admissions to the Military Colleges. By 2019, the SAF was ideologically aligned with the Muslim Brotherhood.
It was Karti’s ideological influence that apparently derailed the possibility of a civilian-led transitional government in Sudan after the October 2021 military coup. Karti also unleashed jihadist battalions, which were rebranded as Burhan’s “Popular Resistance.”
This summer, there seemed to be cracks in the alliance between the SAF and the Muslim Brotherhood. In August, Burhan fired five senior generals who are Islamic extremists, including General Nasreddin, head of the SAF Armored Corps, whom the Muslim Brotherhood had reportedly been grooming as a potential successor to Burhan. One analyst suggested that the five generals were dismissed after Burhan met with U.S. Special Envoy Mossad Boulos in Switzerland, on August 11, 2025. Researcher Mujahid Ahmed, however, warns that the Muslim Brotherhood’s influence persists, extending into civilian institutions, especially the foreign affairs and justice ministries. According to the Ayin Network, Al-Burhan apparently still relies on Karti and Bashir’s loyalist, Ahmed Haroun, for battlefield support, indicating a tactical, not total, break.
Iran’s Arms and Qatar’s Role
Iran has been supplying the Muslim Brotherhood-SAF axis with arms, including Ababil-3 and Mohajer-6 drones, which were delivered to Port Sudan in March and June 2024. Satellite imagery viewed by the BBC confirms their presence at a military site near Khartoum. Iran’s support of this Muslim Brotherhood-SAF axis, tied to its ambitions to have a presence in the Red Sea, coincides with the Brotherhood’s goals: namely, threatening U.S. allies such as Israel, Saudi Arabia and Egypt.
Why It Matters to the West
The Red Sea handles 10-15% of the world’s maritime commerce, including vital oil and gas shipments. In a conflict, the Muslim Brotherhood-controlled Sudan, using the SAF as a proxy, could choke this route as the Houthis have been doing, thereby spiking prices and impairing American and other economies. The Muslim Brotherhood’s ties to Al-Qaeda and the Islamic State risk turning Sudan into a terrorist base targeting Western and allied Middle Eastern interests.
Trump’s Sudan Gamble
The Trump administration is navigating a tightrope, trying, it seems, to balance Egypt’s pro-SAF stance. Egypt is actively supporting the SAF to bolster its stability as a national institution, while simultaneously working to curb the influence of the Muslim Brotherhood and its sponsor, Qatar. Ayin Network noted that Egypt insists “the SAF must remain central to any post-war political order.” Burhan’s “cosmetic” purge of Islamist generals shows that he can indeed be influenced by Egypt and by the United States, but his reliance on the Muslim Brotherhood’s financial and military support limits his ability to implement any reforms .
A Global Wake-Up Call
Sudan is evidently very much a part of the Muslim Brotherhood’s global agenda. Ignoring events there will only allow a hostile stronghold to emerge in a region strategically vital for the interests of the West.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge.
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS THURSDAY MORNING 6;30AM//OPENING AND CLOSING
EURO/USA: 1.1693 DOWN 0.0009 PTS OR 9 BASIS POINTS
USA/ YEN 147.82 UP 0.462 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 1.3517 DOWN .0016 OR 16 BASIS PTS
USA/CAN DOLLAR: 1.3879 UP 0.0026 (CDN DOLLAR DOWN 26 BASIS PTS)
Last night Shanghai COMPOSITE UP 63.09 PTS OR 1.65%
Hang Seng CLOSED DOWN 94.25 PTS OR 0.36%
AUSTRALIA CLOSED DOWN 0.26%
// EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 94.25 PTS OR 0.36%
/SHANGHAI CLOSED UP 63.09 PTS OR 1.65%
AUSTRALIA BOURSE CLOSED DOWN .26 %
(Nikkei (Japan) CLOSED UP 534.83 PTS OR 1.22%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 3629.75
silver:$41.07
USA dollar index early THURSDAY morning: 97.53 DOWN 22 BASIS POINTS FROM WEDNESDAY’s CLOSE
THURSDAY MORNING NUMBERS ENDS
And now your closing THURSDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.086% UP 1 in basis point(s) yield
JAPANESE BOND 10 yr YIELD: +1.579% UP 2 FULL POINTS AND 0/100 BASIS POINTS /JAPAN losing control of its yield curve/
JAPAN 30 YR: 3.223 DOWN 2 BASIS PTS
SPANISH 10 YR BOND YIELD: 3.245 UP 1 in basis points yield
ITALIAN 10 YR BOND YIELD 3.500 DOWN 0 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.668 UP 1 BASIS PTS
IMPORTANT CURRENCY CLOSES : MID DAY THURSDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.1734 UP 0.0031 OR 31 basis points
USA/Japan: 147.42 UP 0.065 OR YEN IS DOWN 7 BASIS PTS//
Great Britain 10 YR RATE 4.6230 DOWN 1 BASIS POINTS //
GREAT BRITAIN 30 YR BOND; 5.458 DOWN 4 BASIS POINTS.
Canadian dollar UP .0001 OR 1 BASIS pts to 1.3859
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The USA/Yuan CNY UP AT 7.1202 CNY ON SHORE ..
THE USA/YUAN OFFSHORE UP TO 7.1164
TURKISH LIRA: 41.29 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +1.579 UP 2 basis pts
THE 30 YR JAPANESE BOND YIELD: 3.223 DOWN 1 basis pts
Your closing 10 yr US bond yield DOWN 2 in basis points from WEDNESDAY at 4.009% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.667 DOWN 3 in basis points /11:00 AM
USA 2 YR BOND YIELD: 3.500 DOWN 2 BASIS PTS.
GOLD AT 11;00 AM 3627.00
SILVER AT 11;00: 41.28
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: THURSDAY CLOSING TIME 11:00 AM//
London: CLOSED UP 72.19 PTS OR 0.78%
GERMAN DAX: UP 70.70 pts or 0.30%
FRANCE: CLOSED UP 45.64 pts or 0.79%
Spain IBEX CLOSED UP 103,80pts or 0.68%
Italian MIB: CLOSED UP 372.68 or 0.89%
WTI Oil price 62.39 11.00 EST/
Brent Oil: 66.25 11:00 EST
USA /RUSSIAN ROUBLE /// AT: 85.10 ROUBLE DOWN 0 AND 22/ 100
CDN 10 YEAR RATE: 3.160 DOWN 4 BASIS PTS.
CDN 5 YEAR RATE: 2.736 DOWN 3 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1736 up 0.0039 OR 39 BASIS POINTS//
British Pound: 1.3579 UP .0046 OR 46 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.5900 DOWN 3 FULL BASIS PTS//
BRITISH 30 YR BOND YIELD: 5.428 DOWN 6 ( STILL DANGEROUS LEVELS FOR GILTS)
JAPAN 10 YR YIELD: 1.575 UP 1 FULL BASIS PTS (DANGEROUS TO THEIR ECONOMY
JAPANESE 30 YR BOND: 3.217 DOWN 2 AND VERY DANGEROUS TO THEIR ECONOMY
USA dollar vs Japanese Yen: 147.13 DOWN 0.221 BASIS PTS
USA dollar vs Canadian dollar: 1.3838 DOWN 0.0021 BASIS PTS// CDN DOLLAR DOWN 21 BASIS PTS
West Texas intermediate oil: 62.28
Brent OIL: 66.26
USA 10 yr bond yield DOWN 2 BASIS pts to 4.000
USA 30 yr bond yield DOWN 3 PTS to 4.644%
USA 2 YR BOND: DOWN 2 PTS AT 3.527%
CDN 10 YR RATE 3.160 DOWN 2 BASIS PTS
CDN 5 YEAR RATE: 2.746 DOWN 1 BASIS PTS
USA dollar index: 97.51 DOWN 24 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 41.29 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 84.92 UP 0 AND 48/100 roubles //
GOLD $3634.30 . (3:30 PM)
SILVER: 41.54 (3:30 PM)
DOW JONES INDUSTRIAL AVERAGE: UP 616.87 OR 1.36%
NASDAQ 100 UP 143.29 PTS OR 0.60%
VOLATILITY INDEX: 14.73 DOWN 0.62%
GLD: $ 334.76. DOWN 0.50 PTS OR 0.15%
SLV/ $37.79 UP .38 PTS OR OR 1.02%
TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 204.75 PTS OR 1.70%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING
‘
Calm Consumer Prices Send Rate-Cut Odds Soaring As Gold Tops Inflation-Adjusted Record High
WRAP UP FOR THE DAY:
Stocks and Bonds gain with Dollar sold amid surging jobless claims – Newsquawk US Market Wrap
Thursday, Sep 11, 2025 – 04:20 PM
- SNAPSHOT: Equities up, Treasuries up, Crude down, Dollar
- REAR VIEW: US CPI largely matches expectations, although hot headline M/M; US Initial Claims surge above expectations, Continued Claims unchanged; Solid US 30yr auction; US Federal Budget widens more than expected; Bessent to add 1 or 2 names to Fed Chair candidates; Trump admin asks US appeals court to pause ruling that blocked the removal of Fed Governor Cook; ECB hold rates, as expected, Lagarde said risks to growth have become more balanced (prev. remain tilted to the downside); PSKY reportedly prepares bid for WBD.
- COMING UP: Data: German CPI Final (Aug), UK GDP (Jul), French Final CPI (Aug), Spanish Final CPI (Aug), US University of Michigan Prelim (Sep). Events: CBR Announcement; ECB Publication of ECB staff macroeconomic projections for the euro area. Speakers: RBA’s Jones. Credit Rating Reviews: France, Spain.
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MARKET WRAP
US indices saw gains, despite an initial choppy reaction in equity futures to US data. CPI printed broadly in line (ex. headline M/M, which was hot), while initial jobless claims soared to 263k (exp. 235, prev. 236k), and continues to add to the economic concerns around the labour market, which saw the market largely focus on the latter. As such, indices strengthened (despite initial two-way action), while Treasuries rose and the Dollar was sold on the soaring jobless claims. Fed money market pricing has moved dovish, with 73bps of easing priced in by year-end, vs. 68bps pre-data. As mentioned, the Dollar was weaker to the benefit of G10 FX peers, as Antipodeans outperformed, while the EUR benefited from a hawkish Lagarde in the ECB press conference – recapping, ECB left rates unchanged, as expected, with 2026 HICP inflation and GDP growth projections softer than forecasts, while Lagarde said risks to growth have become more balanced (prev. risks to economic growth remain tilted to the downside). Sectors are all in the green with Materials sitting atop of the pile, while Energy was the only one in the red and weighed on by the downside in WTI prices, which pared some of the 3-day winning streak gains, albeit in a lack of energy newsflow, which makes a change on the week. For the record, the US 30yr auction was solid but garnered little reaction in T-Notes, given the aforementioned spike in jobless claims was the clear driver. On the Fed footing, CNBC sources reported US Treasury Secretary Bessent met this week with Warsh, Lindsey, and Bullard as Fed Chief search continues, and he is waiting for the end of the Fed blackout to speak with sitting Fed officials; sources added Bessent favours smaller Fed footprint and the goal is to add one or two names to candidates Trump has already mentioned. Lastly, the Trump administration asked the US appeals court to pause a ruling that blocked the removal of Fed Governor Lisa Cook
US
CPI: US CPI rose 0.5% M/M, above the 0.3% forecast and accelerating from the prior 0.2%, seeing the Y/Y pace at 2.9%, accelerating from the 2.7% in July but in line with analyst forecasts. The Core print rose 0.3%, matching the prior and consensus, with Y/Y at 3.1%, also matching the consensus and prior. The super core print rose 3.2%, matching the pace in July. Further in the report, the Core goods prices rose 0.28%, accelerating from the 0.21% in July and 0.2% in June, while core services rose 0.35%, vs the 0.36% rise in July and 0.25% in June. Pantheon Macroeconomics highlights that the rise in goods prices is the largest since May 2023, driven by new vehicles, used vehicles, while apparel and video and audio products also contributed to the upside. Meanwhile, goods exempt from tariffs, like cellphones and prescription drugs (for now), continued to drift down. Pantheon suggests that the pass through to prices is only one-third complete. The Fed has been shifting their focus to the labour market given the recent downside, while the doves have been arguing that the tariffs will result in a one-time price increase on inflation – an argument that has gained more credence with Fed Chair Powell also suggesting this at his dovish Jackson Hole speech. Meanwhile, after the string of weak jobs reports, Fed’s Goolsbee was still reluctant to commit to a September rate cut, noting he will be watching the inflation data to see if the pick up in services prices (not affected by tariffs) was a blip, or something more consistent. Core service prices rose 0.35%, more-or-less unchanged from the 0.36% increase in July, which is concerning if services prices remains sticky in the face of rising goods prices from tariffs. Meanwhile, heading into the blackout period (and pre NFP, CPI) Fed’s Musalem (hawk) said he had marked down his inflation risks, and marked up labour market risks. The CPI data today came alongside a spike higher in initial jobless claims to the highest level since October 2021.
JOBLESS CLAIMS: Initial jobless claims (w/e 6th Sep.) printed its highest figure since October 2021, as it rose to 263k from 236k, above the expected 235k and the top end of the forecast range. Note, the reporting week coincided with the Labor Day holiday (1st Sep.). Texas (+15,304) was the standout mover in non-SA claims, and Oxford Economics notes they do not have a good explanation for the increase just yet; it wasn’t flagged by WARN notices for Texas in July, which increased from 2,175 to 3,722; WARN notices typically lead related increases in jobless claims by about two months. Note, seasonal factors anticipated a decline of 13,004. The headline meant the 4-wk average jumped to 240.5k from 230.75k. Continued claims (w/e 30th Aug.) were unchanged W/W at 1.939mln, shy of the expected 1.951mln. The jump in initial claims further adds to the continued economic concerns around the labour market following the weak July and August NFP reports, accompanied by chunky downward revisions in July. Meanwhile, the prelim annual BLS benchmark payroll revisions also revealed that jobs had been overstated by 911k in the 12 months to March 2025 – putting the labour market in a weaker position than initially thought.
FIXED INCOME
T-NOTE FUTURES (Z5) SETTLED 2+ TICKS HIGHER AT 113-21
T-Notes rise on jobless claims spike. At settlement, 2-year +0.2bps at 3.535%, 3-year +0.9bps at 3.493%, 5-year +0.3bps at 3.585%, 7-year -0.8bps at 3.760%, 10-year -1.7bps at 4.015%, 20-year -2.1bps at 4.606%, 30-year -2.8bps at 4.649%.
INFLATION BREAKEVENS: 1-year BEI -0.4bps at 3.221%, 3-year BEI -1.8bps at 2.707%, 5-year BEI -0.5bps at 2.436%, 10-year BEI +0.4bps at 2.341%, 30-year BEI +1.3bps at 2.240%.
THE DAY: T-Notes were sideways overnight before ultimately rallying on the US data. The data was mixed, where a hot headline CPI M/M (0.4% vs exp. 0.3%) saw T-Notes briefly fall, but the move was swiftly pared on the initial jobless claims number. The weekly Initial Jobless Claims surged to 263k, the highest level since October 2021 and outside the top end of analyst forecast ranges. The jump in claims, coupled with inline Core CPI (despite headline upside), largely took the focus given recent concerns on the labour market. Money markets start to price in rate cuts from the Fed more aggressively after the data, with 73bps of easing now priced by year-end vs 68bps before the data was released. Elsewhere, the ECB rate decision saw the central bank leave rates on hold as widely expected in a unanimous decision, albeit the 2026 HICP inflation and GDP growth projections were softer than expected. However, President Lagarde acknowledged risks to growth have become more balanced (prev. remained tilted to the downside), while noting the disinflationary process is over. ECB sources from Reuters later noted that the next real discussion on the rate cut debate will take place in December. Although Bloomberg sources said no further cuts are needed to deliver 2% inflation. Meanwhile, the 30-year bond auction was solid, but garnered little reaction in the Treasury space.
SUPPLY
T-Notes/Bonds
30-YEAR: Overall, a solid auction, which comes after the strong 3 and 10yr auctions this week. The auction saw a high yield of 4.651%, which was on-the-screws, unchanged from the six-auction average, but much improved from the 2.1bps tail in the prior auction. Bid-to-cover was 2.38x, above the prior 2.27x, but more-or-less in line with the six-auction average of 2.37x. Indirect bidders took home 62.0% of the auction, above the prior 59.5% and average 60.9%. Direct demand rose to 28.0% from 23.0%, surpassing recent averages, which left dealers with 10.0%, a notable improvement from the prior 17.5% and six-auction average of 14.1%.
- US Treasury to sell USD 13bln in 20yr bonds on September 16th and USD 19bln in 10yr TIPS on September 18th; all to settle Sept. 30th
Bills:
- US sold USD 100bln 4-week bills at a high rate of 4.000%, B/C 2.81x; sold USD 85bln of 8-week bills at a high rate of 4.060%, B/C 2.64x
- US to sell USD 73bln of 26-week bills and USD 82bln of 13-week bills on September 15th
- US to sell USD 85bln of 6-week bills on September 16th.
STIRS/OPERATIONS
- Market Implied Fed Rate Cut Pricing: September 27bps (prev. 27bps), Oct 50bps (prev. 47bps), Dec 73bps (prev. 69bps).
- NY Fed RRP op demand at USD 27bln (prev. 29bln) across 15 counterparties (prev. 18).
- EFFR at 4.33% (prev. 4.33%), volumes at USD 111bln (prev. 112bln) on September 10th
- SOFR at 4.39% (prev. 4.40%), volumes at USD 2.800tln (prev. 2.863tln) on September 10th
CRUDE
WTI (V5) SETTLED USD 1.30 LOWER AT USD 62.37/BBL; BRENT (X5) SETTLED USD 1.12 LOWER AT USD 66.37/BBL
The crude complex was lower, paring some of the 3-day winning streak gains, albeit in a lack of energy newsflow, which makes a change on the week. Globally, attention was on US data, whereby the soaring jobless claims figures outweighed a relatively in line CPI report, as well as ECB. Back to the energy space, the IEA raised its 2025 world oil demand growth forecast to 740k BPD (prev. 680k BPD), and maintained its 2026 forecast at 700k BPD. Further, IEA suggested world oil supply to lift by 2.7mln BPD in ‘25 amid the latest OPEC+ hike (prev. 2.5mln BPD rise) whilst the net increase from Sep. to Oct. in OPEC+ oil output will be 40k BPD, less than 137k BPD quota hike, citing capacity limits in some members. Meanwhile, OPEC’s MOMR left its forecasts unchanged. Geopolitical updates were light, although Ukrainian President Zelensky said they have not seen strong steps from allies in response (referring to the drone incursion into Poland). WTI and Brent traded between USD 62.24-63.80/bbl and USD 66.15-67.62/bb, respectively.
Morgan Stanley noted that after summer strength wanes, the global surplus is likely to re-emerge. Eventually, MS suspect this will roll over into critical price-driving storage in the Atlantic basin as well. To allow oil inventories to build, the forward curve will need to create favourable storage economics. That requires a contango structure, driving flat price down to ~ USD 60/bbl for a period, MS write.
EQUITIES
CLOSES: SPX +0.85% at 6,587, NDX +0.60% at 23,993, DJI +1.36% at 46,108, RUT +1.83% at 2,422
SECTORS: Energy -0.04%, Technology +0.18%, Communication Services +0.18%, Utilities +0.49%, Consumer Staples +0.95%, Industrials +0.96%, Financials +1.67%, Real Estate +1.68%, Consumer Discretionary +1.70%, Health +1.73%, Materials +2.14%.
EUROPEAN CLOSES: Euro Stoxx 50 +0.49% at 5,388, Dax 40 +0.26% at 23,693, FTSE 100 +0.78% at 9,298, CAC 40 +0.80% at 7,824, FTSE MIB +0.89% at 42,432, IBEX 35 +0.59% at 15,308, PSI +0.33% at 7,755, SMI +0.62% at 12,294, AEX +0.47% at 906
STOCK SPECIFICS:
- Oracle (ORCL): Said in Q1 that it approved & initiated plans to restructure operating activities costing up to USD 1.6bln
- Alibaba (BABA): Will sell USD 3.2bln in zero-coupon convertible senior notes due 2032.
- Amazon (AMZN): Named a top pick at MS.
- Royal Caribbean Cruises (RCL): Raised quarterly dividend by 33%.
- Boeing (BA): Struck a labour deal.
- AMD (AMD): Downgraded to ‘Hold’ from ‘Buy’ at Erste Group.
- Centene (CNC): Reiterated FY25 adj. EPS view above expectations.
- Kroger (KR): EPS and SSS beat, but revenue missed.
- Paramount Skydance (PSKY) prepares Ellison-Backed Bid for Warner Bros. Discovery (WBD), according to WSJ citing sources; the majority of the planned bid for Warner will be made up of cash. CNBC sources note PSKY could make a bid for WBD as soon as next week.
- American Airlines (AAL) – CFO said looks like October is going to be better than September, via MS Conference. Demand for future bookings really strong.
- Lockheed Martin (LMT) – Executive said they don’t expect any additional charges on the classified aeronautics and the classified MFC programmes that we’ve disclosed over the last few months. Sees 2025 revenue growth of 4-5% and backlog stands at USD 167bln as of mid-year.
FX
The Dollar was hit by soft US labour data and a strong EUR arising from a hawkish ECB President Lagarde (more below). US data saw US CPI largely in line with expectations, with headline M/M slightly hotter than expected at 0.4% (exp. 0.3%). The main concern arose from the weekly initial claims report, where the initial claims surged by 27k to 263k (exp. 235k), putting the 4-week average at 240.5k (prev. 230.75k), its sharpest increase since December 2020. The move higher was driven by a 15k+ increase in Texas, albeit, some economic commentators suggest it could turn out to be a one-time effect given the recent floods. Following the data, expectations in money markets over easing increased, now ~73bps are priced in (prev. 68bps). DXY trades at ~97.54 from earlier highs of 98.088.
EUR finished firmer due to the aforementioned USD weakness and the ECB’s President Lagarde surprising markets with hawkish commentary in the press conference. The ECB kept rates unchanged, very much as expected, accompanied by a dovish outlook on inflation. The ECB revised up its inflation forecast to 1.7% (prev. 1.6%), shy of the expected 1.9%. This did spark a dovish reaction at first; however, Largarde reversed this move through a few key comments. 1) Risks to growth have become more balanced (prev. risks to economic growth remain tilted to the downside), 2) The disinflationary process is over, 3) They are still in a good place. Bloomberg sources later noted that ECB members are convinced that no further interest-rate cuts are needed to deliver 2% inflation, despite new economic projections pointing to an undershoot over the next two years. However, Reuters sources suggested the rate cut debate is not over but October seen too soon and next real discussion is more likely in December. EUR/USD rose to ~1.1740, remaining above its 21 DMA (1.1674) and 50 DMA (1.1659).
G10FX was entirely firmer against the Buck on said soft US data. Aside from the US and ECB, newsflow was generally thin in the space. Highlights included the RBNZ Governor Hawkesby noting the central projection for the OCR is to fall to around 2.50% by the end of the year (currently 3.0%), a more dovish viewpoint than RBNZ pricing, which has ~38bps of easing by year-end. Nonetheless, NZD outperformed in the G10 space alongside AUD, with NZD/USD hitting highs of 0.5975 from earlier lows of 0.5917 while AUD/USD now trades at ~0.6660.
TRY: In Turkey, the CBRT cut its Weekly Repo Rate by 250bps to 40.5%, 50bps more than expected. Since the decision, USD/TRY has been little changed. EMFX watchers cited disappointment after the rate decision, noting that while it represents a slowdown in the pace of easing, officials considered the real policy rate too high for “disinflationist domestic demand conditions.
BRL: Brazil Supreme Court panel formed a majority to convict former President Bolsonaro of all charges against him in coup attempt trial.
USA DATA RELEASE
Texas Sparks Unexpected Surge In Jobless Claims To Highest In 4 Years
Thursday, Sep 11, 2025 – 08:47 AM
Time’s Up!
After four years of showing no signs of life, initial jobless claims surged higher last week with 263,000 American filing for jobless benefits for the first time – the most since Oct 2021…
Source: Bloomberg
Under the hood, Texas massively dominated the surge in jobless claims last week (we are struggling to figure out why)…
The spike in Texas looks anomalous (still no details)…
Continuing claims remain above 1.9 million Americans – also the highest in four years…
Source: Bloomberg
Tiffany Wilding, an economist at Pimco, tells Bloomberg Television:
“We are getting what we expected on inflation. The more concerning news from the data this morning is a jump in claims.
“It has been relatively contained, despite the labor market really slowing to a halt over the last year. and now the jump in claims today looks a little more concerning. We are moving out of a period of very little activity or very little hiring or firing to potentially some more separations. That is going to be super concerning, for the Federal Reserve.”
…get back to work Mr.Powell!
END
CPI…
US Consumer Prices Rise More Than Expected In August From Services Not Tariffs
Thursday, Sep 11, 2025 – 08:42 AM
Following yesterday’s cooler-than-expected PPI (MoM deflation), expectations for this morning’s Consumer Price Inflation were for the further acceleration.
Headline CPI rose 0.4% MoM (hotter than the 0.3% expected, lifting prices up 2.9% YoY – the highest since January…
Source: Bloomberg
CPI rose 0.4% in August, after rising 0.2% in July; over the last 12 months, the all items index increased 2.9% before seasonal adjustment.
- The index for shelter rose 0.4% in August and was the largest factor in the all items monthly increase. The food index increased 0.5% over the month as the food at home index rose 0.6% and the food away from home index increased 0.3 percent. The index for energy rose 0.7% in August as the index for gasoline increased 1.9% over the month.
- The index for all items less food and energy rose 0.3% in August, as it did in July. Indexes that increased over the month include airline fares, used cars and trucks, apparel, and new vehicles. The indexes for medical care, recreation, and communication were among the few major indexes that decreased in August.
- The all items index rose 2.9% YoY in August, after rising 2.7% in July. The all items less food and energy index rose 3.1 percent over the last 12 months. The energy index increased 0.2 percent for the 12 months ending August. The food index increased 3.2 percent over the last year.
Core Services were the big driver of the increase, not driven by tariff pressures…
Source: Bloomberg
Core CPI rose 0.3% MoM as expected, lifting prices more than 3% YoY for the first time since February…
Source: Bloomberg
Core Services also dominated the rise in core CPI…
Source: Bloomberg
More details on the core CPI print which rose 0.3% in August, same as July:
- The shelter index increased 0.4% over the month, and was the largest factor in the all items monthly increase
- The index for owners’ equivalent rent rose 0.4 percent in August and the index for rent increased 0.3 percent.
- The lodging away from home index rose 2.3 percent over the month.
- The index for airline fares increased 5.9 percent over the month, after rising 4.0 percent in July.
- The used cars and trucks index rose 1.0 percent in August and the apparel index rose 0.5 percent.
- The index for new vehicles rose 0.3 percent over the month and the index for household furnishings and operations increased 0.2 percent.
- The recreation index and the communication index both declined 0.1 percent in August.
- The medical care index decreased 0.2 percent over the month, following a 0.7-percent increase in July.
- The index for dental services decreased 0.7 percent in August and the index for prescription drugs declined 0.2 percent.
- The physicians’ services index increased 0.3 percent over the month, while the hospital services index was unchanged.
It looks like auto costs are starting to tick up again. New vehicles rose by 0.3% while used cars and trucks rose by 1.0%. But the real sting was in motor vehicle maintenance and repairs, which jumped by 2.4%.
When we look at some import-exposed categories:
- Household furnishings are up 0.1% on the month, the least since March, and appliances within that category are up 0.4%, the most since June. A sort of mixed reading there.
- Apparel (clothing) is up 0.5%, the largest gain since February, so, an acceleration there.
- Video and audio products are up 0.5%, which is the smallest rise since May.
At least looking at these categories, there’s no overall broad story of acceleration in inflation pressures.
Interesting, SuperCore CPI slowed in August to 3.52% YoY…
Source: Bloomberg
Transportation Services were the biggest driver of the rise in SuperCore CPI…
Source: Bloomberg
Comparing CPI to PPI shows that there is no margin pressure on firms and could suggest price pressures being passed through to end users…
Source: Bloomberg
Together with August PPI, the CPI report suggests that the Fed’s preferred inflation gauge, the core PCE deflator (due out Sept. 26) will edge up to 3.0% for August year over year…
All of this is to say, while the overall inflation numbers are in line with what economists had expected, within the details there are pockets of price pressure.
We highlighted auto repairs and airline tickets earlier, but take a look at fruit and vegetable costs: up 1.6% on the month. Motor fuel rose by 1.8%, while tobacco costs rose 1.0%, and food-at-home jumped 0.6% on the month, the biggest gain in almost three years.
To be clear, the overall number won’t hold the Fed from cutting, but it’s clear there’s inflation pressure in some corners of the economy.
…not enough to scare The Fed from its rate-cutting path.
USA ECONOMIC COMMENTARIES
“Dark Moment For America” – Trump Addresses The Nation After Kirk Assassination
Wednesday, Sep 10, 2025 – 09:14 PM
Critical Information We Know So Far…
- Trump states on Truth Social that Charlie Kirk has died.
- A suspect in the case was detained and released following an interrogation
- Charlie Kirk was shot in the neck earlier this afternoon at a Turning Point event at Utah Valley University.
- He was shot from about 200 yards away, according to a Spokeswoman for Utah Valley University
- Someone was seen on the roof of building
- Trump addresses the nation, calls Kirk assassination “dark moment,” promises to dismantle radical leftist groups.
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END
FBI reveals photo of main suspect in Charlie Kirk murder, asks for public help to ID
The FBI is asking the public to assist law enforcement in identifying the suspect.
An image of the main suspect in the murder of Charlie Kirk.(photo credit: FBI)ByJERUSALEM POST STAFFSEPTEMBER 11, 2025 19:11Updated: SEPTEMBER 11, 2025 19:16
The FBI released a photo of the main suspect in the murder case of Charlie Kirk during a briefing on Thursday.
The FBI is asking the public to assist law enforcement in identifying the suspect.
VICTOR DAVIS HANSON
KING NEWS
| The King Report for September 11, 2025 Issue 7574 | Independent View of the News |
| (Conservative activist) Charlie Kirk dead at 31 after shooting… Turning Point USA founder Charlie Kirk was shot on Wednesday at an event in Utah, Deseret News reported… (Kirk is survived by a wife and 2 toddlers. Much more below) https://justthenews.com/politics-policy/charlie-kirk-shot-utah-reports Elon Musk: If you take away religion, I think you get something in its place which is worse than what was there before. You get something destructive like the woke mind virus taking the place of religion. You get dystopian de facto religions that are self-destructive. We need some sort of revival of religion or coherent philosophy that people can get excited about. Aug PPI -0.1% m/m & 2.6% y/y, Aug PPI 0.3% m/m & 3.3% y/y expected: June revised to 0.7% m/m from 0.9% and 3.1% y/y form 3.3% y/y https://www.bls.gov/news.release/archives/ppi_09102025.htm Aug Core PPI -0.1% m/m & 2.8% y/y, Core PPI 0.3% m/m & 3.5% y/y expected; June revised to 0.7% m/m from 0.9% & 3.4% y/y from 3.7% y/y PPI Services dropped to 1.947% y/y in August from 2.486%. Nominated BLS Chief @dlacalle_IA: Sorry, Powell. The Fed models were wrong. Again. No inflation PPIs indicate that tariffs do not affect inflation, after the July increase was primarily driven by portfolio management and stock market components. PPIs remain below pre-tariff levels. Why tariffs do not cause inflation: https://tomorrowsaffairs.com/why-tariffs-do @StephenMoore: BLS over-estimated Biden jobs by nearly 3 million from original headline monthly numbers. BLS is either politically slanted or incompetent. https://x.com/StephenMoore/status/1965798468590682147 Poland strikes down Russian drones that violated airspace in potential escalation of Ukraine war It is not clear how many Russian drones the military struck down or how many invaded Polish airspace, but Poland’s Operational Command said the operation as of 9:45 p.m. Eastern was still underway. https://justthenews.com/world/europe/poland-strikes-down-russian-drones-violated-airspace-potential-escalation-ukraine-war Ukraine Strikes Russian Pipelines, Fuel Supply Hit Hard https://oilprice.com/Latest-Energy-News/World-News/Ukraine-Strikes-Russian-Pipelines-Fuel-Supply-Hit-Hard.html Trump: What’s with Russia violating Poland’s airspace with drones? Here we go! 11:09 ET @ABC: Polish Foreign Minister Radek Sikorski said Russian President Vladimir Putin “laughs” at President Trump’s “peace efforts” and hopes Trump will take “action” following an “unprecedented” drone incursion into Polish airspace. https://abcnews.link/O5s99VN Poland Seeks NATO Consultations After Downing Russian Drones – BBG 10:53 ET Putin has made Trump look like fool. DJT craves the Nobel Peace Prize. Putin recognized this and played Trump. Netanyahu knows this too; and he won’t gamble Israel’s security on DJT’s dream. ESUs opened modestly higher on Tuesday night. After a dip to 6526.75 at 19:34 ET, ESUs marched to 6543.75 at 3:48 ET. The post-European opening dump appeared; ESUs slid to 6529.75 at 5:19 ET. ESUs rallied to 6547.00 at 8:03 ET. After a retreat to 6538.75 at 8:28 ET, ESUs exploded to a daily high of 6565.25 seconds late on the leak of the August PPI Report. After an A-B-C decline to 6543.785 at 9:31 ET, NYSE opening related buying pushed ESUs to 6562.25 at 10:13 ET. It took a while for a critical mass of traders to realize the severity of Russia’s drone incursion into Poland. ESUs did an elongated stair-step decline to a daily low of 6522.50 at 15:21 ET. The illegal late ESU manipulation forced ESUs to 6543.50 at 15:57 ET. ESUs fell to 6537:00 at 16:05. Fangs rallied sharply because Oracle bubbled up as much as 43% on AI hope, hype, & madness. The AI Bubble diverted attention from the ominous geopolitical situation festering in Eastern Europe. Subprime Auto Lender Tricolor Files for Bankruptcy – BBG The Dallas-based company filed for Chapter 7 in the US Bankruptcy Court for the Northern District of Texas on Wednesday, court documents show… JPMorgan, Fifth Third Among Banks Facing Losses Tied to Tricolor – BBG JPMorgan Chase & Co., Fifth Third Bancorp and Barclays Plc are among banks bracing for potentially hundreds of millions of dollars in combined losses from loans tied to subprime auto lender Tricolor Holdings, according to people with knowledge of the matter. Fifth Third said in a regulatory filing Tuesday that it faced an impairment charge of up to $200 million after discovering alleged fraudulent activity at a commercial borrower, which it didn’t identify. The bank said it was working with law enforcement authorities… https://finance.yahoo.com/news/jpmorgan-fifth-third-among-banks-040728206.html US 10-year Auction ($39B) result: 4.033% vs 4.0465% WI Judge blocks Trump from firing Fed Board Governor Lisa Cook https://t.co/BEzV3yevCw @zerohedge: Judge Jia Cobb, of the Delta Sigma Theta sorority, ruled that Lisa Cook, of the Delta Sigma Theta sorority, should continue setting US monetary policy even though she doesn’t know how to fill out a mortgage application. @nicksortor: Biden Judge Jia Cobb has BLOCKED President Trump from firing Lisa Cook, arguing that literal MORTGAGE FRAUD is probably not “cause” for firing a Federal Reserve Governor. DEI judges are DESTROYING America. We HAVE to find a way to remove them. Positive aspects of previous session Fangs rallied smartly on Oracle’s Bubble. The illegal late ESU manipulation truncated equity losses. USZs were +12/32 at the NYSE close. Negative aspects of previous session USZs were only +10/32 at the NYSE close despite the great Aug PPI Report and 10-yr auction. The DJIA declined 220.42; the DJTA fell 55.86. Ambiguous aspects of previous session How big a factor is the Russia drone excursion into Poland? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 6534.78 Previous session S&P 500 Index High/Low: 6555.97; 6516.34 GOP @SenRandPaul: Newly released emails show Fauci directed colleagues to “delete this after you read it”—dating back to Feb. 2020. He denied it under oath. These documents are now public, and Fauci will finally testify before Chairman Rand Paul. https://x.com/SenRandPaul/status/1965766261918630136 Today – The long-awaited August CPI Report is due. Barring a shockingly bad CPI, traders are eager to get jiggy on stocks, particularly trading sardines and AI-related stocks. ESUs are +6.75; NQUs are +30.25; AU is +2.80 and USZs are -10/32 at 21:12 ET. Expected Economic Data: Aug CPI 0.3% m/m & 2.9% y/y, Core CPI 0.3% m/m & 3.1% y/y; Initial Jobless Claims 235k, Continuing Claims 1.95m; Aug Federal Budget -$324.5B S&P Index 50-day MA: 6370; 100-day MA: 6099; 150-day MA: 5973; 200-day MA: 5978 DJIA 50-day MA: 44,747; 100-day MA: 43,293; 150-day MA: 42,959; 200-day MA: 43,155 (Green is positive slope; Red is negative slope) S&P 500 Index (6532.04 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 6214.45 triggers a sell signal Daily: Trender and MACD are positive – a close below 6405.05 triggers a sell signal Hourly: Trender and MACD are positive – a close below 6502.89 triggers a sell signal John Solomon says the early assessment of law enforcement is that this was a professional hit – expert shot from a longer distance, planned getaway. https://x.com/JustTheNews/status/1965899502868484160 On Jesse Watters show, Ex-FBI Special Agent Stuart Kaplan said it looks like a professional hit: Someone with experience and a ‘mapped out’ plan to kill and escape. Utah Governor Spencer Cox on Charlie Kirk: “I want to be very clear. This is a political assassination… I just want to remind people that we still have the death penalty here in the state of Utah.” https://x.com/joshdcaplan/status/1965911575694651512 Hours after the shooting, FBI Dir Patel said a ‘subject’ in Kirk’s death was in custody. About an hour later, Kash Patel said the person detained in connection with the Charlie Kirk investigation was released after being questioned by authorities. The assassin is on the loose. Despite MSM depictions, Kirk sought civil debate as the means to resolving political conflict. Daily Mail’s @JMRaasch: Consternation on the House floor as GOP Rep Lauren Boebert calls for a moment of prayer for Charlie Kirk and Democrats shout ‘NO!’ GOP Rep Anna Paulina Luna yells at Dems: ‘You f-ing own this!’ Democrats REJECT prayers for Charlie Kirk as moment of silence devolves into House floor shouting match https://www.dailymail.co.uk/news/article-15086223/democrats-reject-prayers-charlie-kirk-house-shouting.html Daily Caller’s @reaganreese_: Utah Valley University spokesperson tells @DailyCaller the following today’s shooting: “This is the situation to the best of our knowledge Charlie Kirk, who was invited by a student group turning point USA was speaking on campus today beginning at noon at about 120 a shot was fired from a building about 200 yards away…” @MiaCathell: According to a live feed of the Utah County police scanner at the time of the Charlie Kirk shooting, an individual was spotted with a “long rifle” wearing jeans, a black shirt, a black mask, and a black vest. “[Inaudible] on top of the building, on the far north side, just east of the library, wearing jeans, black shirt, black vest,” a speaker on the police scanner said. @briannalyman2: Charlie was targeted because he IS the voice of our generation. Charlie defined the young conservative moment, and there literally will never be someone to come close to him. @joelpollak: The fact that Charlie Kirk was shot makes me sick to my stomach. People have been getting away, politically, with crazy rhetoric for far too long. The left never had to face a reckoning after the Trump assassination attempt or the baseball shooting. Oh… and THOUGHTS and PRAYERS. Fox’s Jesse Watters: “They took a shot at Charlie to tell you it’s dangerous to speak your mind and that’s the message. And you can either take that message and crawl into a corner and shut up or you could do what Charlie would want to do and speak louder.” https://x.com/greg_price11/status/1965898703094607914 Regarding Kirk’s assassination, IL Gov Pritzker blames Trump’s rhetoric for political violence in the US. https://x.com/BuzzPatterson/status/1965878455918277014 @Banned_Bill: Within 5 minutes of breaking the news that Charlie Kirk was shot, MSNBC’s Katy Tur hijacks the conversation to talk about Utah’s “permissive” firearm laws. https://x.com/Banned_Bill/status/1965855277112242192 @townhallcom: OMG — MSNBC (Tur) just said the shooter might have been “a supporter shooting their gun off in celebration.” WHAT?! The Fake News is blaming MAGA already. Shameful. https://x.com/townhallcom/status/1965855068345061804 @ForAmerica: MSNBC has no shame. @KatyTurNBC ought to be fired: “How worried do you get about somebody taking up the cause of Charlie Kirk?” https://x.com/ForAmerica/status/1965866991228502345 @SteveGuest: VILE: Matthew Down (Bush-Cheney 2004 chief strategist) blames Charlie Kirk for getting shot: “You can’t stop with these awful thoughts you have and then saying these awful words and then not expect awful actions to take place.” https://x.com/SteveGuest/status/1965866180352290972 (The President of MSNBC apologized for this remark. It is NOT enough. Fire people!) @NickFondacaro: ABC News essentially proclaims that Charlie Kirk had it coming: AARON KATERSKY: His presence there at the university had divided the campus, according to an article in the school paper, where there were people on both sides debating whether he should even be allowed to bring his message, often loyal to the agenda of President Trump, to campus. https://x.com/NickFondacaro/status/1965876695094718939 @WesternLensman: Dem Senator Chris Murphy, yesterday: “We’re in a war right now to save this country. And so you have to be willing to do whatever is necessary in order to save the country.” https://x.com/WesternLensman/status/1965861020938940576 GOP Rep. Anna Paulina Luna @RepLuna: I am done with the rhetoric this rotten House and corrupt media has caused. EVERY DAMN ONE OF YOU WHO CALLED US FASCISTS DID THIS. You were too busy doping up kids, cutting off their genitals, inciting racial violence by supporting orgs that exploit minorities, protecting criminals, and stirring hate. YOU ARE THE HATE you claim to fight. Your words caused this. Your hate caused this… No one deserved this. Enough is enough. @ClayTravis: You cannot call your political adversaries Nazi fascists and modern-day Hitlers and then say political violence is wrong when your deranged lunatic supporters act on your statements and kill or attempt to kill the people you’ve attacked. I will not accept it. No one should. @Peoples_Pundit: Remember when the Corporate Media and Democratic Party drove another nutcase to shoot the Republican House Majority Whip and four others? But both sides… Remember when Donald Trump was nearly killed not once but twice by leftists? I know, I know. Both sides. The late @charliekirk11 (April 7): Assassination culture is spreading on the left. Forty-eight percent of liberals say it would be at least somewhat justified to murder Elon Musk. Fifty-five percent said the same about Donald Trump. In California, activists are naming ballot measures after Luigi Mangione. The left is being whipped into a violent frenzy. Any setback, whether losing an election or losing a court case, justifies a maximally violent response. This is the natural outgrowth of left-wing protest culture tolerating violence and mayhem for years on end. The cowardice of local prosecutors and school officials have turned the left into a ticking time bomb. Daily Signal’s @Tyler2Oneil: The Southern Poverty Law Center, which trades on its history bankrupting the KKK to smear conservatives as secret supporters of “white supremacy,” has put the largest conservative youth org—@TPUSA —on the “hate map” with Klan chapters. Actor @RealJamesWoods: When Democrats threaten your life, believe them. (Schumer vid posted) https://x.com/RealJamesWoods/status/1965897643458171355 ZH: Civil terrorism expert Jason Curtis Anderson of One City Rising states: The assassination of Charlie Kirk marks a dangerous escalation in America’s culture war—where the battle of ideas is now escalating into political violence against those who run organizations devoted to debate and civil discourse. Very few people grasp the gravity of this moment. Incidents like this don’t exist in isolation; they risk triggering a chain of events that can further destabilize the country. Whether it’s the anti-ICE movement, pro-Palestinian agitators, anarchist networks, or NGO-backed permanent protest groups like Indivisible, we are watching the rise of something new and deeply alarming. As Tal Fortgang wrote in City Journal, America is entering a new era of civil terrorism—where the goal is no longer peaceful protest, but intimidation, silencing, and destabilization of our democratic order… https://www.zerohedge.com/political/shots-reportedly-fired-charlie-kirk-event-utah-valley-university “The tyrant dies, and his rule is over. The martyr dies, and his rule begins.” — Soren Kierkegaard Trump from the Oval Office on Charlie Kirk’s assassination: “I am filled with grief and anger at the heinous assassination of Charlie Kirk… Charlie was a patriot who devoted his life to the cause of open debate… He’s a martyr for truth and freedom… was man of deep, deep faith… For years those on the radical left have compared wonderful Americans like Charlie to Nazis and the world’s worst mass murders … This kind of rhetoric is directly responsible for the terrorism that we are seeing in this country… My administration will find each and everyone of those who contributed to this atrocity and to other political violence… including the organizations that funded and supported… radical left political violence has hurt too many people and taken too many lives…” https://truthsocial.com/@realDonaldTrump/posts/115182892535295750 Numerous pundits & commentators claim a tipping point regarding violence, notably politically related violence, has arrived. No more sugar coating, no more appeasement! No more coddling of criminals! No more toleration for Dems and leftists labeling anything they don’t like a ‘threat to democracy’! Benjamin Netanyahu @netanyahu: Charlie Kirk was murdered for speaking truth and defending freedom. A lion-hearted friend of Israel, he fought the lies and stood tall for Judeo-Christian civilization. I spoke to him only two weeks ago and invited him to Israel. Sadly, that visit will not take place. We lost an incredible human being. His boundless pride in America and his valiant belief in free speech will leave a lasting impact. Rest in peace, Charlie Kirk Ghoulish Dems, liberals are blaming Charlie Kirk for his own assassination https://trib.al/QA7s6wB Disgusting comments from left-wing lunatics on social media celebrate the death of Charlie Kirk while saying he ‘deserved’ to be shot https://www.dailymail.co.uk/news/article-15086259/Disgusting-comments-left-wing-lunatics-Charlie-Kirk.html Utah Governor Spencer Cox: “If anyone…celebrated even a little bit at the news of this shooting, I would beg you to look in the mirror and to see if you can find a better angel in there…” https://x.com/townhallcom/status/1965908284516479027 It took a few hours, but some Dem leaders and Senators condemned Kirk’s shooting, saying violence has no place in US politics. Will Dems now curtail their rhetoric? Are Dems concerned about retaliation? @ABC: Former President Biden reacted on social media after President Trump confirmed the assassination of conservative activist Charlie Kirk, saying, “There is no place in our country for this kind of violence.” https://abcnews.link/XmEJK8k (Biden often said he wanted to punch Trump! Biden regularly issued hateful rhetoric!) @Cernovich: Congressional hearings now. Every billionaire funding far left wing extremism. Soros, Bill Gates, Reid Hoffman. Massive RICO investigations now. Every dollar accounted for. Every pass through group’s financial records public. Blake Masters @bgmasters: Left-wing violence is out of control, and it’s not random. Either we destroy the NGO/donor patronage network that enables and foments it, or it will destroy us. @PBDsPodcast: CNN’s Van Jones (on Tuesday): “We don’t know why that man did what he did. And for Charlie Kirk to say ‘we know he did it because she’s white’, when there is no evidence of that is pure rage mongering.” Decarlos Brown: “I got that white girl.”… https://x.com/PBDsPodcast/status/1965493770906206479 The constant picking at America’s racial scab and demonizing opponents are producing violence and hatred. And the perpetrators of the violence and hate spewing are overwhelmingly from one side. What happens if retaliation against the left occurs? Kirk’s assassination will intensify outrage and concern about violence and criminal acts in the USA. History shows that if violence directed at a group is not checked, vigilantism will arise. After failing to spike the story, liberals, Dems, and their media stooges are now defending the stabber of Iryna Zarutska or blaming it on Trump and Republicans for cutting entitlement spending. Liberal media defends thug who killed Ukrainian woman in cold blood: ‘This man was hurting’ https://www.dailymail.co.uk/media/article-15084449/reaction-ukraine-murder-irynea-zarutska-north-carolina-charlotte.html @greg_price11: Dem Rep Jeffries: “It is outrageous that people are trying to politicize the death of Iryna Zarutska… What decency do people have in a moment like this? As opposed to trying to find common sense solutions. One thing I can tell you that’s also outrageous is Donald Trump pardoned J6ers” https://x.com/greg_price11/status/1965835430462632166 The fact that House Minority Leader Hakeem Jefferies is bemoaning the politicization of a crime victim’s death proves Dems know they are taking a beating on the violent crime issue. It’s appalling for putative Dem House Leader Jefferies to condemn politicizing death after what ‘they’ did with George Floyd’s death and the race cards they played. And no one is buying Hakeem’s pathetic Jan 6 diversion. @EndWokeness: Not a single celebrity or feminist activist has said a word about this (Ukrainian woman’s death from stabbing on public transportation) Elon Musk and others are offering to pay for murals throughout the US that honor the Ukrainian woman slain in Charlotte, an obvious co-opting of the George Floyd mural movement. Holder: U.S. ‘a nation of cowards’ on race Feb 18. 2009 Attorney General Eric Holder described the United States Wednesday as a nation of cowards on matters of race, saying most Americans avoid discussing unresolved racial issues… Race, Holder said, “is an issue we have never been at ease with and, given our nation’s history, this is in some ways understandable… If we are to make progress in this area, we must feel comfortable enough with one another and tolerant enough of each other to have frank conversations about the racial matters that continue to divide us.”… https://www.nbcnews.com/id/wbna29260098 In 2009, AG and self-proclaimed ‘Obama Wingman’ Eric Holder exclaimed that Americans were cowards about discussing race. Well, Eric, Americans are increasingly ready to discuss race; but probably not in the manner that you desired. @Advo_Katy: Boys who grow up fatherless are more likely to end up in prison than to graduate from college. That is true regardless of race… And even if the law imposes consequences for dangerous behavior, it can never shape that boy into a responsible man. Only a personal, loving, ongoing relationship with a man he respects can accomplish that. There is one demographic of children in this country who have been disproportionately deprived of the paternal love they require to thrive—Black children. We are reaping what decades of government-driven welfare policy, no-fault divorce, and anti-father messaging have sown: a generation of violent men whose brute physical strength is being used to destroy and tear down rather than to build up and protect. Yes, we need court reform and genuine criminal justice. But don’t pretend we can get out of this mess without family reform—and justice for the children growing up without their dads. Liberals are reusing their ‘60s playbook regarding race. Blacks are suffering systemic racism, which is the reason for high crime in big-blue cities; and the remedies are woke policies and more social spending. Much of systemic racism prior to LBJ’s Great Society program has been mitigated; plus tens of trillions of dollars have been spent. AND social (particularly family) maladies have worsened among blacks, whites, and Hispanics despite, or as some aver, due to the Welfare State. A critical fight for remedies for the maladies plaguing blacks appeared the turn of the century when Booker T. Washington (His autobiography “Up from Slavery” should be required reading in US schools) advocated that blacks utilize education (particularly ‘industrial’), the trades, and entrepreneurism because these vehicles were proven to be successful in lifting underclass immigrant classes. Booker T. Washington (Died in 1915) mobilized a nationwide coalition of middle-class blacks, church leaders, and white philanthropists and politicians, with the goal of building the community’s economic strength and pride by focusing on self-help and education… Because of his influential leadership, the timespan of his activity, from 1880 to 1915, has been called the Age of Booker T. Washington. Washington called for Black progress through education and entrepreneurship… He supported racial uplift, but secretly also supported court challenges to segregation and to restrictions on voter registration. Black activists in the North, led by W. E. B. Du Bois, disagreed with him and opted to set up the NAACP to work for political change… Decades after Washington’s death in 1915, the civil rights movement of the 1950s took a more active and progressive approach…in the late twentieth century, more nuanced perspectives about his actions by scholars and historians interpreted him more positively… https://en.wikipedia.org/wiki/Booker_T._Washington WEB DuBois (born in Massachusetts and educated at Harvard) opposed Booker T. Washington and averred that socialism (government) could produce a better path towards racial equality than capitalism. He joined the Socialist Party in 1910 but exited after 1912 because he thought the party was racist. In 1934, he wrote articles supporting Marxism. https://en.wikipedia.org/wiki/W._E._B._Du_Bois Blacks, which had voted mostly Republican, started a significant turn to Dems after FDR instituted Aid to Depend Children (ADC) in 1935. The welfare state was incubated; LBJ brought it to maturity. @Austin__Berg: Illinois has stopped tracking the recidivism rate, according to a WGN investigation. The state literally cannot report the share of formerly incarcerated people who commit new crimes after release… You need to track recidivism in order to make smarter investments in public safety and hold the system accountable… https://t.co/ffBhl7AvZk Texas lawmaker slams Texas A&M after student allegedly removed from class for challenging transgender lesson – A statement from Texas A&M University President Mark A. Welsh III: I learned this afternoon that key leaders in the College of Arts and Sciences approved plans to continue teaching course content that was not consistent with the course’s published description… I directed the provost to remove the dean and department head from their administrative positions, effective immediately… https://www.foxnews.com/media/texas-lawmaker-slams-texas-am-after-student-allegedly-removed-from-class-challenging-transgender-lesson Secret Service missed Glock in guest’s bag at Trump’s Virginia golf course https://trib.al/7UQkwKV @C__Herridge: MUST SEE: 9/11 Hijacker Video – February 2000 Video Captures Two 9/11 Hijackers at a Dinner or ‘Welcome Party’ in San Diego. The Party Host Orders the Videographer NOT to Film One Side of The Room. The Videographer Slips Up and Captures a “Saudi Government Religious Official” at The Party. Former Intel Official: “That’s A Big Deal” In Court papers, lawyers for Saudi Arabia dispute the characterization. https://x.com/C__Herridge/status/1965825241047024112 Bush arranged for various Saudis to be flown out of the US 2 days after the 9/11 attacks. After 9/11: the Saudis Who Slipped Away – LA Times April 11, 2004 … the evacuation of about 140 Saudis almost immediately after 9/11… U.S. intelligence knew that 15 of the 19 hijackers were Saudi. Analysts also knew that Saudi money was a major force behind Al Qaeda… U.S. airspace was almost entirely locked down. Virtually no one could fly. Nevertheless, the Saudi Arabian Embassy was able to organize a massive operation to evacuate these citizens from the U.S. It began with a chartered flight from Tampa, Fla., to Lexington, Ky., on Sept. 13. Soon there were at least eight planes stopping in 12 U.S. cities to fly Saudis out… The initial flight required authorization from the highest levels of government — and specifically from the White House. Former counterterrorism czar Richard Clarke said he was a party to such conversations in the White House… The Bush family has a long, close relationship with the House of Saud. I have traced at least $1.4 billion in investments and contracts over the last 20 years from Saudis to companies in which the Bushes and their allies have had prominent positions — among them, Harken Energy, Halliburton and the Carlyle Group… At a time when millions of Americans were numb with terror, was the Bush administration delivering favors to its Saudi friends?… https://www.latimes.com/archives/la-xpm-2004-apr-11-oe-unger11-story.html Follow the Money, Bush, 9/11 and Deep Threat May 21, 2002 In the immediate aftermath of 9/11 a number of news stories appeared concerning investments in “put” options in United and American Airlines… In the week before September 11 put options in United and American Airlines went through a furious and unprecedented spasm of investment… Most of the investments in these put options originated in Germany through the Deutsche Bank… Although no one has apparently claimed the money from the put options, questions remain about Krongard and the CIA’s involvement… What becomes particularly relevant in the lead-up to 9/11 is the August CIA briefing of Bush concerning the potential threat of attacks by bin Laden using hijacked planes on certain sites, such as the Pentagon and World Trade Center, and the fact that the CIA had bugging equipment on bin Laden messages and international banking operations… Both German and Russian intelligence agencies picked up signals during the summer of 2001 about bin Laden plans. The FBI in its investigation of Zacarias Moussaoui’s activities documented his desire to fly a plane into the World Trade Center. When those FBI agents requested a warrant to search Moussaoui’s personal computer, the civil liberties-minded Attorney General, John Ashcroft, turned them down. On the other hand, Ashcroft was worried enough about the hijacking of commercial airplanes that starting on July 26, 2001 he stopped flying on commercial aircraft… There is a substantive and documented record of neglect and obstruction to warrant a charge of criminal negligence by Bush and his national security state apparatus… https://www.counterpunch.org/2002/05/21/follow-the-money-bush-9-11-and-deep-threat/ BBG’s @alexwickham: Bloomberg News investigation obtains more than a hundred emails between Peter Mandelson (UK Ambassador to US) and Jeffrey Epstein. The day before Epstein went to prison Mandelson wrote “I think the world of you… Fight for early release.” He said he loved him. https://x.com/alexwickham/status/1965865113577222212 UK ambassador Peter Mandelson told Jeffrey Epstein ‘I think the world of you’ ahead of 2008 guilty plea: emails https://trib.al/Ri801Gm @cbschicago: A Chicago police squad car was stolen early Tuesday as officers were trying to make an investigatory stop in the Fuller Park neighborhood. @HansMahncke: The New York Times changed its headline (“Right-wing provocateur”) on the Charlie Kirk obituary. The original version was so beyond the pale that you can only shake your head in disbelief. https://x.com/HansMahncke/status/1965939834368962833 | |
SWAMP STORIES FOR YOU TONIGHT
total morons!!
MSNBC Fires Matthew Dowd For Suggesting Charlie Kirk Had It Coming; Liz Warren, Jen Psaki Double Down
Wednesday, Sep 10, 2025 – 11:00 PM
MSNBC has fired political analyst Matthew Dowd, after he suggested that conservative activist and TPUSA founder Charlie Kirk, who was assassinated on Wednesday, had it coming – Variety reports.
During coverage of Kirk’s shooting, anchor Katy Tur asked Dowd about “the environment in which a shooting like this happens” – a disgusting framing in itself, to which Dowd replied: “He’s been one of the most divisive, especially divisive younger figures in this, who is constantly sort of pushing this sort of hate speech or sort of aimed at certain groups. And I always go back to, hateful thoughts lead to hateful words, which then lead to hateful actions. And I think that is the environment we are in. You can’t stop with these sort of awful thoughts you have and then saying these awful words and not expect awful actions to take place. And that’s the unfortunate environment we are in.”
Dowd’s comments set off a firestorm online – resulting in a public apology from MSNBC president Rebecca Kutler, who called the statement “inappropriate, insensitive and unacceptable.”
“We apologize for his statements, as has he,” Kutler said from MSNBC’s X account. “There is no place for violence in America, political or otherwise.”
Dowd took to BlueSky to issue a similar apology to an echo chamber of leftists, so ‘sorry I got caught.’
“I apologize for my tone and words. Let me be clear, I in no way intended for my comments to blame Kirk for this horrendous attack. Let us all come together and condemn violence of any kind.”
Ah yes, the old ‘let me be clear’ – implying you simply misunderstood what he meant.
Update: Meanwhile, both Sen. Elizabeth Warren (D-MA) and former Biden Spox and MSNBC ‘personality’ Jen Psaki blamed President Trump – with Warren suggesting he needs to tone down his rhetoric.
END
and then this: awful
From Bluesky To Reddit, Democrats Celebrate Charlie Kirk’s Assassination; Trump Slams Radical Left
Thursday, Sep 11, 2025 – 09:45 AM
Yesterday, TPUSA founder Charlie Kirk was assassinated while speaking to a crowd of students at Utah Valley University. The murder shocked the nation – with heartfelt messages of love and support pouring in from around the world for a man that had become a powerful influence in the conservative movement.
Yet, as most of the nation reeled from the graphic murder, many on the left – after years of being primed by Democrat leadership to engage in violence against ‘nazis’ and ‘fascists’ – could not contain their joy at Kirk’s death.
“You can tell a lot about a person by how they react when someone dies,” Kirk famously stated on X in 2016.
Kirk couldn’t have been more right…
Let’s begin with Elon Musk, who responded with an exclamation mark to an X post that stated: “I have a friend at Reddit who says they have had over 16,000 posts calling for the Revolution to continue They are saying Charlie Kirk wasn’t enough SO, they aren’t just celebrating Charlie’s demise they are calling for more…”
That post was responding to another one that read: “just spent 30 mins of Bluesky and Reddit. If you don’t believe in the devil, go check it out. Pure evil on the other side.”
Absolutely unhinged.
end
GREG HUNTER..INTERVIEWING BO POLNY
..Silver Explosion Kills Babylon’s Financial System – Bo Polny
By Greg Hunter On September 10, 2025 In Market Analysis, Political Analysis12 Comments
By Greg Hunter’s USAWatchdog.com
At the beginning of this year on USAWatchdog, Biblical cycle timing expert, geopolitical and financial analyst Bo Polny said, “Get ready for a wild ride in 2025 and beyond.” We have had the so-called Biden autopen scandal, huge deportation numbers by ICE, huge fraud with 911,000 fake jobs that hid a recession since July of 2024 and, now, the assassination of top conservative political figure Charlie Kirk. The world is going mad. Polny has a new warning that September 2025 is going to bring a huge market event that will end the financial system as we know it. Polny explains, “Silver, this time around, is not just going to go through $50 per ounce, it’s going to go through it like a hot knife through butter. It’s going to go to $60 then $70, and then it’s going to three digits very shortly. What is about to happen are incredible price moves. This is the end of the Babylonian financial system. . .. They used the money to build Babylon. What is Babylon? It’s a control system. . .. We are about to see an explosion that is going to blow people’s minds on what is about to happen. Silver is going to go to numbers unthinkable. Silver has been prophesized to be the metal, the thing that is going to change people’s financial position forever.”
Polny also predicts, “The war cycle ends on September 21. The wars are about to come to an end. I don’t care if people are saying wars come next year and that there is going to be a nuclear conflict. They are all going to be 1,000% wrong because the Biblical cycle ends at the end of September and beginning of October. The September date is in my book. You can’t stop what is coming. You can only prepare for what is coming. When this move in gold and silver happens, they will finally break free of generations of price manipulation and suppression. This will be the destruction of the banking cartel.”
Polny points to the Bible and Haggai 2: 6-22. Polny reads, “I will shake the heavens and the earth and the sea and the dry land. 7 And I will shake all nations, so that the treasures of all nations shall come in, and I will fill this house with glory, says the Lord of hosts. 8 The silver is mine, and the gold is mine, declares the Lord of hosts. . .. Consider from this day onward, from the twenty-fourth day of the ninth month.”
Polny goes on to say, “This is Haggai, and it says September 24th . . . God is going to step in, and it’s going to be a 180 of what they did five years ago. . .. Five is the number of Grace. . .. It’s going to be the shaking of a lifetime on this world. It’s going to be a 9/11 worldwide on steroids. No one is going to miss it. What is going to happen is the greatest move of the spirit of God in human history. . .. All the Glory goes to God. This is a battle for souls. . .. Good news not bad news coming.”
There is much more in the 93-minute in-depth interview.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Biblical cycle expert and financial analyst Bo Polny as he talks about events and signs coming that Polny documents in his new book called “Revelation: The Good News, Jubilee Edition, End of Days Timeline Revealed,” for 9.10.25.
After the Interview:
harveyorganblog.com 
