access market
Today was capitulation day as the FRBNY tried desperately to knock gold below $4,000 and failed miserably as all metals rose from the nadir. The RRBNY had to move probably because the Fed next week will lower rates and that will set off a fire storm in prices on goods etc in the USA.. The FRBNY may have also received their marching orders from the BIS to cover than huge 30 tonnes of gold shortfall!!! The bankers started to cover hteir massive new shorts on both precious metals and equity shares.
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EXCHANGE: COMEX
EXCHANGE: COMEX
CONTRACT: OCTOBER 2025 COMEX 100 GOLD FUTURES
SETTLEMENT: 4,087.700000000 USD
INTENT DATE: 10/21/2025 DELIVERY DATE: 10/23/2025
FIRM ORG FIRM NAME ISSUED STOPPED
099 H DEUTSCHE BANK AG 1
118 C MACQUARIE FUTURES US 3
323 C HSBC 156
323 H HSBC 131
363 H WELLS FARGO SECURITI 429
435 H SCOTIA CAPITAL (USA) 1685
624 H BOFA SECURITIES 859
657 H MORGAN STANLEY 819
686 C STONEX FINANCIAL INC 2
686 H STONEX FINANCIAL INC 7
690 C ABN AMRO CLR USA LLC 1
709 C BARCLAYS 600
737 C ADVANTAGE FUTURES 19
905 C ADM 41
991 H CME 131
TOTAL: 2,442 2,442
MONTH TO DATE: 57,517
GOLD: NUMBER OF NOTICES FILED FOR OCT/2025: 2442 CONTRACTs NOTICES FOR 244,200 OZ or 7.096 TONNES
total notices so far: 57,517 contracts for 5,751,700 OR 178.902 tonnes)
SILVER NOTICES: 141 NOTICE(S) FILED FOR 0.705 MILLION OZ/
total number of notices filed so far this month : 7075 CONTRACTS (NOTICES) for 35.375 million oz
INITIAL STANDING FOR OCT: 35.545 MILLION OZ (WHICH INCLUDES ALL QUEUE JUMPING)
+ 2.110 MILLION OZ EXCHANGE FOR RISK
EQUALS
37.655 MILLION OZ..
JULY: 50.925 MILLION OZ (QUITE SMALL)
AUGUST: 59.455 MILLION OZ (QUITE SMALL)
SEPT. 50.510 MILLION OZ.(QUITE SMALL)
OCT; 75.050 MILLION OZ (WILL BE HUGE THIS MONTH)/ OCC WANTS TO REIN IN THESE ISSUANCES!
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: 68.040 MILLION OZ NORMAL DELIVERY(INCLUDES ALL QUEUE JUMPING AND EXCHANGE FOR PHYSICAL TRANSFERS) PLUS 3.0 MILLION OZ EX FOR RISK = 71.040 MILLION OZ. (THIS IS THE FIRST AND ONLY ISSUANCE OF EXCHANGE FOR RISK FOR SILVER SINCE MAY.)
AND NOW OCTOBER: 35.545 MILLION OZ OF NORMAL DELIVERY INCLUDES ALL QUEUE JUMPING
PLUS
2.110 MILLION OZ EXCHANGE FOR RISK//TOTAL OZ STANDING IN OCT ADVANCES TO 37.655 MILLION OZ
AUGUST: 60.547 TONNES OF INITIAL GOLD FIRST DAY NOTICE FOLLOWED BY THE NET MONTH’S QUEUE JUMP OF 47.2312 TONNES TO WHICH WE ADD THE FOLLOWING EXCHANGE FOR RISK ISSUANCE RECEIVED FOR THE MONTH: 5.4432 TONNES EX FOR RISK/AUG 7 , AUG 11: 2.413 TONNES EX FOR RISK AND AUG. 12 OF 2.637 TONNES EX FOR RISK//AUG 25: 9.107 TONNES , AUGUST 26: 9.1010 TONNES AND 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
SEPT: INITIAL 8.093 TONNES OF GOLD PLUS TODAY’S QUEUE JUMP OF 0.4883 TONNES PLUS 2.2827 TONNES OF EXCHANGE FOR RISK TODAY//NEW TOTAL EX. FOR RISK/MONTH = 22.923//NEW TOTAL STANDING FOR GOLD SEPT ADVANCES TO = 48.801 TONNES!!
AND NOW OCTOBER: 90.012 TONNES OF INITIAL GOLD STANDING WITH TODAY’S HUGE 8.622 TONNES OF QUEUE JUMP WHICH FOLLOWS: 3.860 TONNES QUEUE JUMP + FOLLOWING ANOTHER HUGE 7.695 TONNES OF QUEUE JUMP WHICH FOLLOWED FRIDAY’S RECORD SETTING, 12.031 TONNES QUEUE JUMP TO WHICH WE ADD: 8.326 TONNES QUEUE JUMP/WEDNESDAY// WHICH FOLLOWED TUESDAY’S RECORD SETTING MONSTER 9.564 TONNES QUEUE JUMP AND WHICH WAS PRECEDED BY 42.549 TONNES QUEUE JUMPING FOR OCT. THEN WE MUST ADD OUR 14.553 TONNES OF OUR ISSUANCE OF EXCHANGE FOR RISK/6 OCCASIONS//NEW TOTAL OF GOLD STANDING ADVANCES TO 193.6634 TONNES OF GOLD.
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. STRONG THIS MONTH
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. 116.13 TONNES VERY SMALL
OCT. 178.886 TONNES//CERTAINLY MUCH LARGER THIS MONTH
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 OCT. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A MEGA MEGA HUGE SIZED 2865 CONTRACTS OI TO 169,418 AND FURTHER FROM 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 A HUGE 1112 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
DEC 1112 CONTRACTS and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 136 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 2865 CONTRACTS AND ADD TO THE HUGE 1112 E.FP. ISSUED
WE OBTAIN A HUGE SIZED LOSS OF 1793 OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES WITH OUR LOSS OF $3.73 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 9.765 MILLION PAPER OZ
OCCURRED WITH OUR LOSS IN PRICE.OF $3.73
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENT
Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS
ASIAN MARKETS THIS WEDNESDAY MORNING:
SHANGHAI CLOSED DOWN 15.30 POINTS OR 0.33%
//Hang Seng CLOSED CLOSED DOWN 245.78 PTS OR 0.94%
// Nikkei CLOSED : DOWN 245.78 PTS OR 0.94% //Australia’s all ordinaries CLOSED DOWN 0.71%
//Chinese yuan (ONSHORE) CLOSED DOWN TO 7.1249// OFFSHORE CLOSED DOWN AT 7.1272/ Oil UP TO 58.36 dollars per barrel for WTI and BRENT UP TO 62.39 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING DOWN TO 7.1249 // OFFSHORE YUAN TRADING DOWN TO 7.1272 :/ONSHORE YUAN TRADING ABOVE OFF SHORE / AND THUS WEAKER/OFF SHORE YUAN TRADING DOWN AGAINST US DOLLAR/ AND THUS WEAKER
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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 SHOCKINGLY FELL BY ONLY A FAIR 3517 CONTRACTS TO 472,421 OI DESPITE OUR MEGA MEGA HUGE LOSS IN PRICE OF $240.80 WITH RESPECT TO TUESDAY’S AND THAT AGAIN MAKES NO SENSE AT ALL // TRADING/ //COMEX CLOSING TIME:… WE LOST ZERO NET LONGS, DESPITE THAT HUGE PRICE LOSS FOR GOLD. AND AS YOU WILL SEE BELOW, OUR LOSS IN PRICE ALSO HAD A STRONG NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (3623). WE MUST HAVE HAD MASSIVE T.A.S. LIQUIDATION TUESDAY. WE HAD A TOTAL GAIN IN OI ON BOTH OF OUR EXCHANGES, THE COMEX AND LONDON’S EXCHANGE FOR PHYSICAL EQUATING TO 106 CONTRACTS (OR 0.329 TONNES).THEN WE WERE NOTIFIED OF A ZERO CONTRACT EXCHANGE FOR RISK ISSUANCE IN GOLD CONTRACTS ISSUED FOR NIL OZ OR 0 TONNES OF GOLD.
EXCHANGE FOR PHYSICAL//GOLD ISSUANCE//OCTOBER:
THUS THE TOTAL NUMBER OF CONTRACTS EXCHANGE FOR RISK ISSUED FOR THE MONTH OF OCT FOR GOLD REMAINS AT 14.553 TONNES OF GOLD UNDER THE GUIDANCE OF 6 ISSUANCES.
A LITTLE HISTORY ON OUR EXCHANGE FOR RISK ISSUANCES/ GOLD:
HERE IS A CLOSER LOOK AT EXCHANGE FOR RISK ISSUANCES FOR THESE PAST 4 MONTHS;
(TOTAL EXCHANGE FOR RISK LAST 4 MONTHS 70.097 TONNES//BANK OF ENGLAND TOTAL RESERVES LISTED AT 310 TONNES.)
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 BADLY AS 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). EARLY IN THE MONTH 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 AN ISSUANCE OF 2924 CONTRACTS. THE HUGE NUMBERS OF EXCHANGE FOR RISK SUGGEST THAT A MAJOR CENTRAL BANK IS DEMANDING ITS GOLD BACK.
SEPT:
SEPTEMBER: SEVEN ISSUANCES SO FAR TOTALLING 7,370 CONTRACTS OR 737,000 OZ OR 22.923 TONNES.
THESE ISSUANCES WILL OF COURSE BE ADDED TO OUR NORMAL DELIVERIES TO GIVE US OUR TOTAL SEPT STANDING FOR GOLD.
AND NOW OCTOBER: 6 ISSUANCES
WE RECEIVED NOTICE THAT OUR INITIAL EXCHANGE FOR RISK ISSUED ON FIRST DAY NOTICE WAS FOR 500 CONTRACTS OR 50,000 OZ /1.555 TONNES OF GOLD!!THAT WAS FOLLOWED BY A STRONG 650 CONTRACT ISSUED THURSDAY OCT 2 FOR 2.0217 TONNES AND THAT WAS FOLLOWED THE NEXT DAY BY ANOTHER HUGE 1320 CONTRACT ISSUANCE FOR 13,200 OZ OR 4.1057 TONNES AND THIS WAS FOLLOWED BY SATURDAY’S OCT 4: 180 CONTRACT ISSUANCE FOR 18,000 OZ OR .5596 TONNES:THIS BRINGS US TO OCT 8 WITH A HUGE ISSUANCE OF 1000 CONTRACTS FOR 100,000 OZ OR 3.1104 TONNES. NOW AFTER A TWO WEEK HIATUS, OCT 21: 1029 CONTRACTS FOR 10290 OZ OR 3.200 TONNES TOTAL ISSUANCES 6 OCCASIONS FOR 4679 CONTRACTS OR 467,900 OZ OR 14.553 TONNES
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 9.4054 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).AT THE BEGINNING OF THE MONTH 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 PREVIOUS DAY’S ISSUANCE OF 2924 CONTRACTS. THE HUGE NUMBERS OF EXCHANGE FOR RISK SUGGEST THAT A MAJOR CENTRAL BANK IS DEMANDING ITS GOLD BACK.
SEPTEMBER: SEVEN ISSUANCES FOR 7370 CONTRACTS SO FAR FOR 737,000 OZ OR 22.923 TONNES OF GOLD!!
OCTOBER: FIRST INITIAL ISSUANCE OF 500 CONTRACTS FOR 50,000 OZ OR 1.555 TONNES OF GOLD. THIS WAS FOLLOWED BY AN ISSUANCE OF 650 CONTRACTS OR 65000 OZ OR 2.0217 TONNES. THEN ON OCT 3 WE RECEIVED OUR 3RD NOTICE FOR A HUGE 1320 CONTRACTS OR 132000 OZ OR 4.1057, AND THEN SATURDAY OCT 4, THE CME ISSUED ITS 4 ISSUANCE FOR 180 CONTRACTS FOR 18,000 OZ OR .5594 TONNES. THEN OCT 8 FOR 1000 CONTRACTS, OR 100,000 OZ OR 3.1104 TONNES AND FINALLY OCT 21; 3.200 TONNES// THUS ON 6 OCCASIONS TOTAL EXCHANGE FOR RISK ISSUANCE; 14.553 TONNES
AS I EXPLAINED ABOVE,:THE RECIPIENT OF EXCHANGE FOR RISK FOR GOLD 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 MUCH ITS GOLD TO BULLION BANKS AND :(EX FOR RISK 9 MONTH TOTALS 127.5 TONNES)//TOTAL RESERVES OF BOE EQUALS 310 TONNES)
- THE FEDERAL RESERVE BANK OF NEW YORK (NEED TO RETRIEVE THEIR LEASED/BORROWED GOLD FROM THE BIS).THE FED STILL REFUSES TO BRING BACK MUCH OF ITS 30 TONNES SHORTFALL. IT BOUGHT BACK ONLY 4 TONNES LAST MONTH 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 OCT//ONLY MISSING JUNE. TOTAL 9 MONTHS ISSUANCE 130.3 TONNES)……… THE FACT THAT A CENTRAL BANK TAKES THE RISK OF A DELIVERY IS TOTALLY INSANE. THE VERY FIRST ISSUE OF EXCHANGE FOR RISK CAME IN MAY 2023. HUGE ISSUANCES BEGAN OCT AND DEC 2024. ROBERT LAMBOURNE, GATA CONSULTANT AND EXPERT ON BIS AND BANK OF ENGLAND ISSUES HAS WRITTEN TO THE BANK OF ENGLAND AUTHORITIES CONCERNING THE REFUSAL OF THE BANK OF ENGLAND’S E.E.A. AUDITORS TO SUPPLY A POSITIVE AUDIT ON THEIR GOLD TONNAGE AND OTHER ASSETS HELD UNDER THE E.E.A. .AND NOW THE OCC HAS WRITTEN NEW RULES ON BORROWED GOLD AND THE HANDLING OF EXCHANGE FOR PHYSICAL ISSUANCES AS TO NOT BREAK ANY LAWS!!! STRANGE: THEY HAVE BEEN BREAKING LAWS FOR 5 YEARS NOW.
DETAILS ON OCTOBER COMEX MONTH//
IN TOTAL WE HAD A FAIR SIZED LOSS ON OUR TWO EXCHANGES OF 3517 CONTRACTS DESPITE OUR HUGE LOSS IN PRICE WHICH ABSOLUTEY MAKES NO SENSE!!. 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 6.0% LATELY AS GOLD IN LONDON IS STILL EXTREMELY SCARCE. THE FORCE MAJEURE AT GRASBERG IS CERTAINLY HAVING AN EFFECT ON LEASE RATES IN LONDON WITH RESPECT TO GOLD/SILVER.
THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THE MONTHS OF JUNE THROUGH OCT 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 STRONG SIZED T.A.S ISSUANCE AS THE CME NOTIFIES US THAT THEY HAVE ISSUED 3,428 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 AGAIN ON FRIDAY’S AND TUESDAY’S HUGE RAIDS, DESPERATELY TRYING TO STOP GOLD’S ADVANCE. THIS GENERALLY ENDS IN FAILURE AS WE WE WILL PROBABLY SEE GOLD//SILVER RISE HUGELY ON OUR UPCOMING DAYS.
A LITTLE HISTORY ON TAS ATTEMPTED RAIDS:
AS FOR THE FIRST TIME EVER, THEY FAILED TO RAID AT MONTH’S END AUGUST COMEX AND OTC/LONDON LBMA EXPIRY!! SO THE CROOKS DECIDED IT WAS NECESSARY TO RAID AROUND THE BIG INTEREST RATE ANNOUNCEMENT SEPT 17-SEPT 18 AND THEY TRIED AGAIN RIGHT BEFORE FIRST DAY NOTICE SEPT 30, WITH MUCH FAILURE AS THE TOTAL OPEN INTEREST REFUSED TO BUCKLE!! THIS LEADS US TO FIRST DAY NOTICE SEPT 30 AND THE LAST POSSIBLE DAY FOR A RAID AND TRUE TO FORM OUR CROOKS DECIDED TO RAID MUCH TO THE DELIGHT OF OUR BOYS IN LONDON WHO PICKED UP EXTRA AMOUNTS OF GOLD AND TENDERED FROM THIS SHORT PAPER ISSUANCE. THEN MUCH TO MY ANGER THEY DECIDED TO RAID AGAIN ON OCT 2 WITH CHINA OFF THIS WEEK FOR THEIR FALL FESTIVAL (BACK TODAY) AND OF COURSE THE IMPORTANT RELIGIOUS HOLIDAY FOR THE JEWISH PEOPLE OCT 1-2, YOM KIPPUR. AGAIN THIS ENDED IN ABSOLUTE FAILURE AS LONDON AGAIN CAME TO THE RESCUE WITH THEIR MASSIVE TENDERING FOR PHYSICAL. YOU CAN JUST VISUALIZE THE MASSIVE HEADACHE THE CROOKS UNDERWENT WITH THIS HUGE PHYSICAL TENDERING FOR GOLD.(THE HUGE INCREASE IN QUEUE JUMPING). AND NOW AS WE ARE SET TO BEGIN OPTION EXPIRY WEEK, THE CROOKS HAVE DECIDED TO RAID AGAIN. IT WILL BE QUITE A TRADING WEEK //OTC OPTIONS EXPIRY FRIDAY OCT 31..COMEX EXPIRY TUESDAY OCT 28.
HERE IS A SUMMARY OF GOLD STANDING FOR DELIVERY ON OUR LAST 7 MONTHS:
FOR APRIL AT 209 + TONNES
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. //(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 WHICH IS MONSTROUS!!!
FINAL 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 0.4883 TONNES QUEUE JUMP TO GO ALONG WITH TODAY’S 2.817 TONNES OF EXCHANGE FOR RISK ISSUANCE TODAY AND // TOTAL EXCHANGE FOR RISK ISSUANCE SEPT: 22.923 TONNES//NEW TOTALS STANDING ADVANCES TO 48.801 TONNES OF GOLD!!!
AND THIS NOW BRINGS US TO OCTOBER WHERE INITIAL AMOUNT OF GOLD STANDING IS 28,988 CONTRACTS FOR 90.114 TONNES OF GOLD TO WHICH WE ADD OUR FIRST MASSIVE QUEUE JUMP OF 4.898 TONNES QUEUE JUMP FOLLOWED BY OCT 4 QUEUE JUMP OF 0.9704 TONNES TO BE FOLLOWED BY OCT 7 QUEUE JUMP OF 3.623 TONNES, THEN OCT 8’S HUGE 6.942 TONNES QUEUE JUMP, OCT 9 HUGE 4.979 TONNES OF QUEUE JUMP, OCT 10 MASSIVE QUEUE JUMP OF 7.504 CONTRACTS(250,900 OZ//7.504 TONNES) AND THEN OCT 13: 4.3919 TONNES// AND THEN OCT 14 WITH A RECORD SETTING 9.564 TONNES AND THEN WEDNESDAY’S MASSIVE 6.469 TONNES QUEUE JUMP AND THEN THURSDAY’S QUEUE JUMP AT 8.326 TONNES. THEN HUGE RECORD SETTING 12.031 TONNES QUEUE JUMP AND THEN YESTERDAY’S 3.8600 TONNES AND FINALLY TODAY’S HUGE 8.622 TONNES //// AND THIS WAS AUGMENTED BY AN UNUSUAL 50,000 CONTRACT EXCHANGE FOR RISK ISSUED ON FIRST DAY NOTICE AND THEN ON THREE CONSECUTIVE OCCASIONS, OCT 2 THROUGH TO THE OCT 4.THEY TOOK ONE DAY OFF AND THEN ISSUED ITS 5TH EXCHANGE FOR RISK ISSUANCE FOR 1000 CONTRACTS OR 100,000 OZ/3.1105 TONNES AND THEN FINALLY OCT 21 EXCHANGE FOR RISK// FOR 1029 CONTRACTS//102,900 OZ//3.200 TONNES THE NEW TOTAL ON THESE 6 ISSUANCES IS 4679 CONTRACTS FOR 467,900 OZ OR 14.553 TONNES WHICH WILL BE ADDED TO OUR NORMAL DELIVERIES INCLUDING QUEUE JUMPS. NEW TOTALS FOR GOLD STANDING ADVANCES TO 193.6634 TONNES
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 245 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 OF GOLD QUEUE JUMPING AND EXCHANGE FOR RISK ISSUANCE: AUGUST THROUGH OCTOBER AND SUBSEQUENT STANDING FOR GOLD.
AUGUST:
AUGUST: TOTAL QUEUE JUMPING AND TOTAL EXCHANGE FOR RISKS ISSUANCE FOR THE MONTH OF AUGUST; AND THUS STANDING:
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.
SEPT:
SEPTEMBER: TOTAL EXCHANGE FOR RISK AND QUEUE JUMPING; STANDING FOR GOLD
SUMMARY SEPT: 8.093 TONNES INITIALLY STANDING FOR GOLD // 7 ISSUANCES OF 22.923 TONNES OF EXCHANGE FOR RISK ISSUANCE/ SEPT MONTH AND THIS IS ADDED TO OUR NORMAL DELIVERY OF 25.878 TONNES
THAT IS;
A) //TOTAL FOR MONTH EXCHANGE FOR RISK/MONTH: 22.923 TONNES EX FOR RISK!!
B) //NORMAL DELIVERY OF 25.878 TONNES WHICH INCLUDES ALL QUEUE JUMPING.
TOTALS: 48.801 TONNES FINAL STANDING FOR GOLD/SEPT.
AND THIS BRINGS US TO OCTOBER:
OCTOBER: INITIAL STANDING FOR GOLD: 90.164 TONNES TO WHICH WE ADD OUR LATEST OCT 22 JUMP OF 8.622 TONNES WHICH FOLLOWS OCT 21: 3.8600 TONNES TO OCT 20 QUEUE JUMP OF 7.695 TONNES WHICH FOLLOWED OCT 17 RECORD SETTING: 12.031 TONNE QUEUE JUMP WHICH FOLLOWED THURSDAY’S QUEUE JUMP OF 8.326 TONNES WHICH FOLLOWED WEDNESDAY;S 6.469 WHICH FOLLOWED ALL PREVIOUS QUEUE JUMPS OF 42.549 TONNES TO WHICH WE ADD OUR TOTAL 4679 EXCHANGE FOR RISK CONTRACTS ON 6 OCCASIONS FOR 467,900 OZ OR 14.553 TONNES.! TOTAL STANDING ADVANCES TO 193.6634 TONNES OF GOLD
SUMMARY FOR OCTOBER STANDING:
THAT IS;
a) INITIAL STANDING 90.164 TONNES
b) INITIAL EXCHANGE FOR RISK ISSUANCE OF 500 CONTRACTS FOR 50,000 OZ OR 1.555 TONNES
c) ANOTHER 3 CONSECUTIVE EXCHANGE FOR RISK ISSUANCES OF 2150 CONTRACTS FOR 215000 OZ OR 6.687 TONNES
D) AFTER A ONE DAY HIATUS, A 5TH ISSUANCE FOR 1000 CONTRACTS //100,000 OZ OR 3.1104 TONNES
E) AFTER A TWO WEEK HIATUS: ITS 6TH ISSUANCE FOR 1029 CONTRACTS/102,900 OZ OR 3.200 TONNES
TOTAL EXCHANGE FOR RISK OCT 6 OCCASIONS: 14.553 TONNES
TO WHICH WE ADD ALL OUR QUEUE JUMPING IN OCT:
F) A MASSIVE QUEUE JUMP,OCT 3 OF 4.898 TONNES OF GOLD
G) STRONG QUEUE JUMP OCT 4: 0.9704 TONNES
H) A MASSIVE QUEUE JUMP OCT 7 OF 3.623 TONNES
I) A MASSIVE QUEUE JUMP OCT 8 FOR 6.942 TONNES
J) A MASSIVE QUEUE JUMP OCT 9 FOR 4.979 TONNES
K) A MASSIVE AND 3RD HIGHEST EVER OCT 10 QUEUE JUMP FOR 7.504 TONNES
L) A MASSIVE QUEUE JUMP OF 4.3919 TONNES
M) A RECORD SETTING QUEUE JUMP OF 9.564 TONNES
N) A HUGE 6.469 TONNES QUEUE JUMP
0) A HUGE 8.326 TONNES QUEUE JUMP
P) A RECORD SETTING 12.031 TONNE QUEUE JUMP THE HIGHEST EVER RECORDED IN COMEX HISTORY SURPASSING TUESDAY’S 9.564 TONNES
Q/ QUEUE JUMP OF 7.695 TONES OF GOLD//
R/ TODAY’S QUEUE JUMP OF 3.8600 TONNE JUMP
S) TODAY’S QUEUE JUMP OF 8.622 TONNES//
(ALL OF THESE QUEUE JUMPS ARE REPRESENTED BY CENTRAL BANKS DESPERATELY ADDING TO THEIR OFFICIAL RESERVES)
EQUALS
193.6634 TONNES OF GOLD!!
EXCHANGE FOR PHYSICAL ISSUANCE/OCT
THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED EXCHANGE FOR PHYSICAL OF 3623 CONTRACTS.
THAT IS A STRONG SIZED 3623 EFP CONTRACT WAS ISSUED: : /DEC 3623 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 3623 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 O.C.C. HEADQUARTERED IN BOTH LONDON AND WASHINGTON. SEEMS NOW THAT THE OCC IS CLAMPING DOWN ON THIS EFP’S CIRCLING AROUND IN LONDON!
WE HAD :
- ZERO LIQUIDATION OF OUR T.A.S. SPREADERS//TUESDAY + GOVERNMENT LIQUIDATION
- MONTH END SPREADERS HAVE NOW FINISHED AS IT WAS IN FULL FORCE ON FIRST DAY NOTICE SEPT 30 WITH OUR ATTEMPTED FAILED RAID, FOLLOWED BY ANOTHER RAID OCT 2 AND THAT ENDED IN TOTAL FAILURE! , OCT 7 WE WITNESSED A SMALL RAID TRYING TO STOP GOLD’S ADVANCE TO THE 4000 BARRIER!! EARLY Y\OCT 8 MORNING THE BARRIER TO 4,000 DOLLAR GOLD WAS PIERCED!! AND THAT SET IN MOTION OUR CROOKS DESPERATE TO CONTROL THEIR HUGE DERIVATIVE LOSSES. (OCT 9 SAW FINALLY AFTER MANY YEARS SILVER PIERCING THE 50 DOLLAR MARK AND THAT WAS WHEN THE CROOKS THREW ANOTHER TEMPER TANTRUM WHEN GOLD FINALLY BROKE THROUGH 4,000 DOLLAR MARK ON OCT. 10 AND GOLD NEVER LOOKED BACK DESPITE OUR TWO RAIDS THIS PAST WEEK, ON FRIDAY AND YESTERDAY OCT 21.
T.A.S.SPREADER ISSUANCE//OCT
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS USUALLY DURING MID MONTH IN THE DELIVERY CYCLE), BUT NOW ON A DAILY BASIS, THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR TUESDAY NIGHT/WEDNESDAY MORNING WAS A STRONG SIZED SIZED 2137 CONTRACTS
THE RAIDS WHETHER ON OPTIONS EXPIRY MONTH OR OTHERWISE LIKE LAST MONTH ON OPTIONS EXPIRY WEEK AND THEN OCT 9 AND THEN TODAY OCT 21, 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 GAIN IN PRICE IN GOLD AND A CORRESPONDING FAIR 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)
- AND THIS WAS FOLLOWED WITH AUGUST’S 7 ISSUANCES OF EXCHANGE FOR RISK FOR 44.696 TONNES
- TO BE FOLLOWED BY SEPTEMBER’S 7 ISSUANCES FOR EXCHANGE FOR RISK FOR 22.923 TONNES.
- TO BE FOLLOWED BY OCTOBER’S 6 ISSUANCES FOR 14.553 TONNES
- THE LONDON BANKING AUDITORS HAVE SO FAR REFUSED TO GIVE CERTIFICATION ON THE BANK OF ENGLAND’S SISTER HOLDING OPERATION, THE E.E.A. ON ITS GOLD AND OTHER ASSETS HELD UNDER THE E.E.A.(SEE ROBERT LAMBOURNE’S LETTER OCT 8/
GOLD STANDING AT THE COMEX FOR GOLD LAST 9 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 TO WHICH WE ADD OUR 7 MONTHLY ISSUANCES OF: EXCHANGE FOR RISK TOTALLING 44.696 TONNES//NEW STANDING ADVANCES AS FOLLOWS:
107.5117 TONNES NORMAL DELIVERIES (INCLUDES ALL QUEUE JUMPS /EXCHANGE FOR PHYSICAL TRANSFERS) +
5.4432 TONNES EXCHANGE FOR RISK/PRIOR/AUGUST 7
2.413 TONNES EXCHANGE FOR RISK AUGUST 11
PLUS 2.637 TONNES EX FOR RISK AUGUST 12
PLUS: 9.107 TONNES EX FOR RISK AUGUST 25
PLUS 9.1010 TONNES EX FOR RISK AUGUST 26!!
PLUS 9.0699 TONNES EX FOR RISK AUGUST 27
PLUS 6.923 TONNES EX. FOR RISK/AUGUST 28
MONTHLY TOTAL 44.696 TONNES EXCHANGE FOR RISK!MONTH OF AUGUST.
EQUALS
152.208 TONNES TONNES OF GOLD.
SEPT:
SEPT: 25.878 TONNES OF GOLD INITIAL GOLD STANDING TO WHICH WE ADD OUR 22.923 TONNES OF EXCHANGE FOR RISK ISSUED 7 TIMES DURING THE MONTH:
TOTAL EX FOR RISK// FOR MONTH = 22.923//NEW TOTALS FOR GOLD STANDING SEPT ADVANCES TO 48.801 TONNES
THIS IS HUGE FOR A GENERALLY WEAK SEPTEMBER DELIVERY MONTH.
AND NOW OCTOBER: INITIAL AMOUNT OF GOLD STANDING: 90.164 TONNES OF GOLD FOLLOWED BY TODAY’S HUGE 8.622 TONNES WHICH FOLLOWS YESTERDAY’S., 3.860 TONNES FOLLOWING OCT 20, 7.695 TONNES WHICH FOLLOWED FRIDAY’S HUGE: 12.031 TONNE QUEUE JUMP WHICH FOLLOWED THURSDAY’S 8.326 TONNES, FOLLOWING WEDNESDAY’S HUGE 6.469 TONNES WHICH FOLLOWED TUESDAY;S RECORD SETTING 9.564 TONNES OF A QUEUE JUMP TO WHICH WE ADD ALL OTHER QUEUE JUMPS IN OCT OF 33.009 TONNES WHICH MUST BE ADDED TO OUR 6 ISSUANCES OF 14.553 TONNES EXCHANGE FOR RISK//TOTAL NEW STANDING FOR GOLD IN THIS ACTIVE OCTOBER DELIVERY MONTH ADVANCES TO 193.6634 TONNNES.
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)
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK = 34.9627 TONNES
DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
2024/STANDING FOR GOLD/COMEX
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 11.9325
JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022
JULY: 11.692 TONNES
AUGUST 69.602 TONNES//FINAL STANDING
SEPT. 13.164 TONNES.
OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK =60.391 TONNES
NOV . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES
DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNES EQUALS 95.1066 TONNES
total year 2024: 540.30 tonnes
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COMEX GOLD TRADING BEGINNING OCT,. CONTRACT;
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY A MEGA HUGE $240.80./ /) BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SPECULATOR LONGS AS WE DID HAVE SMALL SIZED GAIN IN OI FROM TWO EXCHANGES OF 106 CONTRACTS.. BUT AS EXPLAINED ABOVE WE HAD HUGE T.A.S. SPREADER LIQUIDATION TUESDAY .THIS WAS COUPLED WITH A) GOVERNMENT LIQUIDATING THEIR CONTRACTS OUT OF SEVERE FEAR!!(PRELIMINARY NUMBERS LOWERED TO FINAL SHOWING MASSIVE LIQUIDATION). AND B) MAYBE THE COMMENCEMENT OF MONTH END SPREADER LIQUIDATION /// THE BANKERS ARE QUITE NERVOUS ABOUT BASEL III WITH ITS IMPLEMENTATION COMMENCING JULY 1. THEY ARE VERY CONCERNED WITH THEIR HIGH AMOUNT OF DERIVATIVES LOSSES ON THEIR BOOKS EVEN THOUGH THEY TRANSFERRED THESE LOSSES ONTO THE FED’S BALANCE SHEET.THUS THE REASON THEY NEEDED THESE T.A.S. ISSUANCES NOW IN ORDER TO FORMALIZE RAIDS: OUR CROOKS TRIED AGAIN LATE OCT 2 WITH CHINA OUT FOR A WEEK, WITH NOT MUCH LUCK. WITH CHINA COMING BACK THURSDAY OCT 9 THE CROOKS NEEDED TO RAID TRYING DESPERATELY TO HALT GOLD’S ADVANCE. I GUESS THAT THEIR LUCK HAS RUN OUT WITH GOLD INITIALLY PIERCING THE 4,000 DOLLAR BARRIER OCT 7-8 ALONG WITH THE PIERCING OF SILVER’S MAGIC 50 DOLLAR MARK. GOLD AND SILVER FROM OCT 10 ON NEVER LOOKED BACK ONCE THEY PIERCED THEIR RESPECTIVE BARRIERS OF 4,000 DOLLAR GOLD AND 50 DOLLAR SILVER. THE CROOKS NOW NEED TO RAID ON EVERY OTHER DAY. AS YESTERDAY OCT 21 WAS ANOTHER MASSIVE RAID ON OUR PRECIOUS METALS AND EQUITY SHARES.
WEDNESDAY MORNING//TUESDAY NIGHT
THE CROOKS HOWEVER COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL TUESDAY EVENING/ WEDNESDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD TO ARRIVE BY BOAT. IT IS NOW TAKING WEEKS TO DELIVER
ANALYSIS OCT DELIVERY MONTH GOING FROM FIRST DAY NOTICE// OCT COMEX CONTRACT
WE HAVE A SMALL SIZED GAIN OF A TOTAL OF 0.329 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR OCT AT 90.164 TONNES TO BE FOLLOWED BY AN INITIAL HUGE 7.695 TONNES/QUEUE JUMP WHICH FOLLOWED A MASSIVE 12.031 TONNES OF QUEUE JUMP ON FRIDAY OCT 21 AND THEN 61.216 TONNES OF PREVIOUS QUEUE JUMPS TO WHICH WE ADD OUR 14.553 TONNES EX FOR RISK/6 OCCASIONS:
/ NEW TOTAL STANDING 193.6634 TONNES.
ALL OF THIS HUGE STANDING FOR OCTOBER WAS ACCOMPLISHED DESPITE OUR LOSS IN PRICE TO THE TUNE OF $240.80
WE HAD A HUGE 980 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 1086 CONTRACTS OR 10,600 0Z (0.329 TONNES)
speculators have left the gold arena
INITIAL GOLD COMEX
OCT CONTRACT MONTH
OCT 22
OCT CONTRACT MONTH
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 2 entries i) Out of HSBC 16,075.500 oz (500 kilobars) ii) Out of Loomis: 36,799.019 oz total withdrawal: 52,874.519 oz or 1.64 tonnes of gold . |
| Deposit to the Dealer Inventory in oz | 0 ENTRIES |
| Deposits to the Customer Inventory, in oz | DEPOSITS/CUSTOMER xxxxxxxxxxxxxxxxI |
| No of oz served (contracts) today | 2442 notice(s) 244,200 OZ 7.596 TONNES |
| No of oz to be served (notices) | 67 contracts 6700 OZ 0.2083 TONNES |
| Total monthly oz gold served (contracts) so far this month | 57,517notices 5,751,700oz 178.902 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
0 ENTRIES
xxxxxxxxxxxxxxxxxxxxx
DEPOSITS/CUSTOMER
0 entries
customer withdrawals:
2 entries
i) Out of HSBC 16,075.500 oz
(500 kilobars)
ii) Out of Loomis: 36,799.019 oz
total withdrawal: 52,874.519 oz
or 1.64 tonnes of gold
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
ADJUSTMENTs 7
ALL dealer to customer account
a) Asahi: 18,877.213 oz
b) Brinks 140,821.350 oz
c) HSBC 135,385.839 oz
d) JPMorgan 25,097.380 oz
e) Loomis 4919.103 oz
f) Malca: 31,540.131 oz.
g) Manfra: 14,754.1888.
total adjusted out of dealer acct: 371,425.334 oz or 11.55 tonnes
volume at the comex: TUESDAY: 577,546oz (humongous//they threw everything but the kitchen sink at our longs)
AMOUNT OF GOLD STANDING FOR OCTOBER
THE FRONT MONTH OF OCTOBER STANDS AT 2509 CONTRACTS FOR A GAIN OF 759 CONTRACTS.
WE HAD 1531 CONTRACTS FILED ON TUESDAY SO WE GAINED A HUGE 1241 CONTRACT QUEUE JUMP FOR 277,200 OZ OR 8.622 TONNES OF GOLD, WHICH YESTERDAY’S 3.8 TONNES QUEUE JUMP WHICH FOLLOWED LAST FRIDAY’S, HIGHEST EVER QUEUE JUMP RECORDED IN COMEX HISTORY OF 12.54 TONNES TONNES OF GOLD WHICH FOLLOWED BY ALL THE REST OF OCTOBER QUEUE JUMP OF 57.356 TONNES
THUS OUR NEW NORMAL DELIVERY RISES TO 179.1104 TONNES WHICH INCLUDES ALL PREVIOUS QUEUE JUMPS) PLUS OUR 14.553 TONNES EX FOR RISK//NEW TOTAL STANDING FOR GOLD ADVANCES TO 193.6634 TONNES
NOVEMBER GAINED 393 CONTRACTS UP TO 6438 CONTRACTS.
DECEMBER LOST 4708 CONTRACTS DOWN TO 357,370 CONTRACTS.
We had 2442 contracts filed for today representing 244,200 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 2442 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer an 0 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for OCT /2025. contract month, we take the total number of notices filed so far for the month (57,517 oz ) to which we add the difference between the open interest for the front month of OCT ( 2509 CONTRACTS) minus the number of notices served upon today (2442x 100 oz per contract) equals 5,758,400 OZ OR 179.1104TONNES OF GOLD TO WHICH WE ADD OUR 6 ISSUANCES OF 14.553 TONNES OF EXCHANGE FOR RISK //NEW TOTALS STANDING FOR GOLD OCTOBER ADVANCES TO 193.6634 TONNES. NO WONDER THE COMEX IS IN TURMOIL WITH THIS MAMMOTH STANDING FOR GOLD.
thus the INITIAL standings for gold for the OCT contract month: No of notices filed so far (57,517 x 100 oz +we add the difference for front month of OCT. (2509 OI} minus the number of notices served upon today (2442 x 100 oz) which equals 5,758,400 OZ OR 179.1104 TONNES + 14.553 TONNES EXCHANGE FOR RISK//NEW TOTAL OF GOLD STANDING IN OCTOBER ADVANCES TO 193.6634 TONNES
TOTAL COMEX GOLD STANDING FOR OCT..: 193.6634 TONNES TONNES WHICH IS HUGE FOR THIS NORMALLY SMALL ACTIVE ACTIVE DELIVERY MONTH OF OCT.
volume TUESDAY confirmed 327,800 contracts huge
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
COMEX GOLD INVENTORIES/CLASSIFICATION
NEW PLEDGED GOLD:
241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES
204,937.290 OZ PLEDGED MANFRA 3.08 TONNES
83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes
265,999.054, oz JPM No 2
1,152,376.639 oz pledged Brinks/
Manfra: 33,758.550 oz
Delaware: 193.721 oz
International Delaware:: 11,188.542 oz
total pledged gold: 1,738,485.453 oz 54.07 tonnes pledged gold lowers
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 38,968,026.945oz
TOTAL REGISTERED GOLD 20,009,889.064 or 625.15tonnes
TOTAL OF ALL ELIGIBLE GOLD 18,958,137.819 OZ
END
REGISTERED GOLD THAT CAN BE SERVED UPON 1,826,140 oz ((REG GOLD- PLEDGED GOLD)= 568.32.58tonnes // (dseclining rapidly)
total inventories in gold declining rapidly
SILVER/COMEX
SILVER/COMEX
THE OCT. 2025 SILVER CONTRACTS
OCT 22 2025
INITIAL/
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 3 entries i) Out of CNT 617,008.250 oz ii) Out of JPMorgan: 695,307.400 oz iii) Out of Loomis 1,501,220.350 oz total withdrawal 2,836,536.500 oz |
| Deposits to the Dealer Inventory | 0 ENTRY |
| Deposits to the Customer Inventory | 1 entries i) Into CNT 31,007.06 oz total deposit: 31,007.06 oz |
| No of oz served today (contracts) | 141 CONTRACT(S) ( 0.709 MILLION OZ |
| No of oz to be served (notices) | 34 contracts (170,000 oz) |
| Total monthly oz silver served (contracts) | 7075 Contracts (35.375 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
DEPOSIT ENTRIES/CUSTOMER ACCOUNT
1 entries
1 entries
i) Into CNT 31,007.06 oz
total deposit: 31,007.06 oz
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx)
withdrawals: customer side/eligible
3 entries
i) Out of CNT 617,008.250 oz
ii) Out of JPMorgan: 695,307.400 oz
iii) Out of Loomis 1,501,220.350 oz
total withdrawal 2,836,536.500 oz
adjustments: 6
all 6 dealer to customer
a) Brinks 665,215.600 oz
b) CNT: 359,556.156 oz
c) Delaware 10,077.600 oz
d)JPMorgan; 14,924.500 oz
e) Loomis: 15,138,730 oz
f) Manfra 9839.440 oz
g) 759,369.110 oz
comex is in turmoil
TOTAL REGISTERED SILVER: 168,809 MILLION OZ//.TOTAL REG + ELIGIBLE. 501.026 Million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR OCT.
silver open interest data:
FRONT MONTH OF OCT /2025 OI: 175 OPEN INTEREST CONTRACTS FOR A LOSS OF 307 CONTRACTS.
WE HAD 480 CONTRACTS SERVED ON TUESDAY, SO WE GAINED 173 CONTRACTS WHICH UNDERWENT A STRONG QUEUE JUMP FOR 0.865 MILLION 0Z
THUS
NORMAL STANDING FOR SILVER OCT ADVANCES TO 35.545 MILLION OZ WHICH INCLUDES TODAY’S STRONG 0.865 MILLION OZ QUEUE JUMP + 2,110 MILLION OZ EX. FOR RISK = 37.655 MILLION OZ WHICH IS MASSIVE FOR A NON ACTIVE DELIVERY MONTH!!
NOVEMBER GAINED 186 CONTRACTS UP TO 2448
DECEMBER LOST 3628 CONTRACTS DOWN TO 118,963
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 141 or 0.705 MILLION oz
CONFIRMED volume; ON TUESDAY 171,850 mega hue//
AND NOW OCT. DELIVERIES:
To calculate the number of silver ounces that will stand for delivery in OCTOBER. we take the total number of notices filed for the month so far at 7075 X5,000 oz = 35.375 MILLION oz
to which we add the difference between the open interest for the front month of OCT (2509) AND the number of notices served upon today (141 )x (5000 oz)
Thus the standings for silver for the OCTOBER 2025 contract month: (7075) Notices served so far) x 5000 oz + OI for the front month of OCTOBER(2509) minus number of notices served upon today (141)x 5000 oz equals silver standing for the OCT.contract month equating to 35.545 MILLION OZ to which we must add our initial 2.110 million oz exchange for risk issuance//new standing advances to 36.790 which is mammoth for a non active delivery monthj.
New total standing: 37.655 million oz. THE SILVER COMEX IS NOW UNDER MASSIVE SIEGE!! AND THIS IS HAPPENING WITH THE MASSIVE SIEGE ON GOLD AS WELL.
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 168.809 million oz of registered silver
JPMorgan as a percentage of total silver: 207.409/501.026million. 41.51%
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
OCT 22 WITH GOLD DOWN $78.95 TODAY/NO CHANGES IN GOLD AT THE GLD: A DEPOSIT// . /// ///INVENTORY RESTS AT 1058.66 TONNES
OCT 21 WITH GOLD DOWN $240.40 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 11.45TONNEES OF GOLD INTO THE GLD// . /// ///INVENTORY RESTS AT 1058.66 TONNES
OCT 20 WITH GOLD UP $137.70 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 12.59TONNEES OF GOLD INTO THE GLD// . /// ///INVENTORY RESTS AT 1047.21 TONNES
OCT 17 WITH GOLD DOWN $90.00 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 12.04TONNEES OF GOLD INTO THE GLD// . /// ///INVENTORY RESTS AT 1034.62 TONNES
OCT 16 WITH GOLD UP $104,45 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 1.15TONNES OF GOLD INTO THE GLD// . /// ///INVENTORY RESTS AT 1022,60 TONNES
OCT 15 WITH GOLD UP $41.25 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2 TONNEES OF GOLD INTO THE GLD// . /// ///INVENTORY RESTS AT 1021.45 TONNES
OCT 14 WITH GOLD UP $33.90 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 1.72 TONNEES OF GOLD INTO THE GLD// . /// ///INVENTORY RESTS AT 1018.88 TONNES
OCT 11 WITH GOLD UP $!29.35 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 3.72 TONNEES OF GOLD FROM THE GLD// . /// ///INVENTORY RESTS AT 1017.16 TONNES
OCT 10 WITH GOLD UP $26.00 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WIHTDRAWAL OF 1.14 TONNEES OF GOLD FROM THE GLD// . /// ///INVENTORY RESTS AT 1013.44 TONNES
OCT 9 WITH GOLD DOWN $91.45 TODAY/NO CHANGES IN GOLD AT THE GLD . /// ///INVENTORY RESTS AT 1014.58 TONNES
OCT 8 WITH GOLD UP $68.60 TODAY/NO CHANGES IN GOLD AT THE GLD . /// ///INVENTORY RESTS AT 1013.17 TONNES
OCT 7 WITH GOLD UP $29.20 TODAY/HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 1.17 TONNES OF GOLD OUT OF THE GLD. . /// ///INVENTORY RESTS AT 1013.17 TONNES
OCT 6 WITH GOLD UP $68.70 TODAY/HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 0.86 TONNES OF GOLD OUT OF THE GLD. . /// ///INVENTORY RESTS AT 1014.88 TONNES
OCT 3 WITH GOLD UP $38.40 TODAY/HUGE CHANGES IN GOLD AT THE GLD A MASSIVE DEPOSIT OF 2.86 TONNES OF GOLD VAPOUR ENTERED INTO THE GLD. . /// ///INVENTORY RESTS AT 1015.74 TONNES
OCT 1 WITH GOLD UP $25.65 TODAY/HUGE CHANGES IN GOLD AT THE GLD A MASSIVE DEPOSIT OF 1.15 TONNES OF GOLD VAPOUR ENTERED INTO THE GLD. . /// ///INVENTORY RESTS AT 1012.88TONNES
SEPT 30 WITH GOLD UP $18.95 TODAY/HUGE CHANGES IN GOLD AT THE GLD A MASSIVE DEPOSIT OF 6.01 TONNES OF GOLD VAPOUR ENTERED INTO THE GLD. . /// ///INVENTORY RESTS AT 1011.73 TONNES
SEPT 29 WITH GOLD UP $48.65 TODAY/HUGE CHANGES IN GOLD AT THE GLD A MASSIVE DEPOSIT OF 8.87 TONNES OF GOLD VAPOUR ENTERED INTO THE GLD. . /// ///INVENTORY RESTS AT 1005.72 TONNES
SEPT 26 WITH GOLD UP $38.40 TODAY/NO CHANGES IN GOLD AT THE GLD . /// ///INVENTORY RESTS AT 996.85 TONNES
SEPT 25 WITH GOLD UP $5.70 TODAY/HUGECHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 3.82 TONNES OF GOLD FROM THE GLD/ . /// ///INVENTORY RESTS AT 996.85 TONNES
SEPT 24 WITH GOLD DOWN $47.70 TODAY/NO CHANGES IN GOLD AT THE GLD . /// ///INVENTORY RESTS AT 1000.67 TONNES
SEPT 23 WITH GOLD UP $42.10 TODAY/HUGE CHANGES IN GOLD AT THE GLD A MAMMOTH DEPOSIT OF 6/11 TONNES OF GOLD VAPOUR ENTERED THE GLD. /// ///INVENTORY RESTS AT 1001.67 TONNES
SEPT 22 WITH GOLD UP $68.40 TODAY/HUGE CHANGES IN GOLD AT THE GLD A MAMMOTH DEPOSIT OF 14.61 TONNES OF GOLD VAPOUR ENTERED THE GLD. /// ///INVENTORY RESTS AT 994.56 TONNES
SEPT 19 WITH GOLD UP $26.70 TODAY/HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 4.29 TONNES OF GOLD FROM THE GLD /// ///INVENTORY RESTS AT 979.95 TONNES
SEPT 18 WITH GOLD DOWN $37.50 TODAY/HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 4.29 TONNES OF GOLD FROM THE GLD /// ///INVENTORY RESTS AT 975.66 TONNES
SEPT 17 WITH GOLD DOWN $8.30 TODAY/NO CHANGES IN GOLD AT THE GLD /// ///INVENTORY RESTS AT 979.95 TONNES
SEPT 16 WITH GOLD UP $8.30 TODAY/HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 2.01 TONNES OF GOLD FROM THE GLD:/// ///INVENTORY RESTS AT 979.95 TONNES
SEPT 15 WITH GOLD UP $45.30 TODAY/HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 3.01 TONNES OF GOLD FROM THE GLD:/// ///INVENTORY RESTS AT 974.80 TONNES/
SEPT 12 WITH GOLD UP $12.40 TODAY/HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 2.01 TONNES OF GOLD FROM THE GLD:/// ///INVENTORY RESTS AT 977.95 TONNES/
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//
GLD INVENTORY: 1058.66 TONNES, TONIGHTS TOTAL
SILVER
OCT 22 WITH SILVER DOWN $0.33 TODAY/HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 2.995 MILLION OZ OUT OF THE SLV /// ///INVENTORY RESTS AT 504.015 MILLION OZ
OCT 21 WITH SILVER DOWN $3.73 TODAY/HUGE CHANGES IN SILVER AT THE SLV: A DEPOSIT OF 8.757 MILLION OZ INTO THE SLV /// ///INVENTORY RESTS AT 507.010 MILLION OZ
OCT 20 WITH SILVER UP $0.94 TODAY/HUGE CHANGES IN SILVER AT THE SLV: A DEPOSIT OF 2.405 MILLION OZ INTO THE SLV /// ///INVENTORY RESTS AT 498.253 MILLION OZ
OCT 17 WITH SILVER DOWN $2.85 TODAY/NO CHANGES IN SILVER AT THE SLV /// ///INVENTORY RESTS AT 495.848 MILLION OZ
OCT 16 WITH SILVER UP $1.63 TODAY/HUMONGOUS CHANGES IN SILVER AT THE SLV A HUGE WITHDRAWAL OF 9.982MILLION OZ OF SILVER OUT OF THE SLV/: /// ///INVENTORY RESTS AT 495.848 MILLION OZ
OCT 15 WITH SILVER UP $0.55 TODAY/SMALL CHANGES IN SILVER AT THE SLV A SMALL WITHDRAWAL OF 0.681 MILLION OZ OF SILVER OUT OF THE SLV/: /// ///INVENTORY RESTS AT 505.830 MILLION OZ
OCT 14 WITH SILVER DOWN $0.07 TODAY/MAMMOTH CHANGES IN SILVER AT THE SLV A HUGE DEPOSIT OF 9.983 MILLION OZ OF SILVER INTO THE SLV/: /// ///INVENTORY RESTS AT 506.511 MILLION OZ
OCT 11 WITH SILVER UP $1.78 TODAY/SMALL CHANGES IN SILVER AT THE SLV A WITHDRAWAL OF 0.272 MILLION OZ OF SILVER INTO THE SLV/: /// ///INVENTORY RESTS AT 496.528 MILLION OZ
OCT 10 WITH SILVER UP $1.27 TODAY/HUGE CHANGES IN SILVER AT THE SLV A DEPOSIT OF 1.180 MILLION OZ OF SILVER INTO THE SLV/: /// ///INVENTORY RESTS AT 496.800 MILLION OZ
OCT 9 WITH SILVER DOWN $0.54 TODAY/HUGE CHANGES IN SILVER AT THE SLV A DEPOSIT OF 0.635 MILLION OZ OF SILVER INTO THE SLV/: /// ///INVENTORY RESTS AT 495.620 MILLION OZ
OCT 8 WITH SILVER UP $1.75 TODAY/HUGE CHANGES IN SILVER AT THE SLV A HUGE DEPOSIT OF 2.723 MILLION OZ OF SILVER INTO THE SLV/: /// ///INVENTORY RESTS AT 494.985 MILLION OZ
OCT 7 WITH SILVER DOWN $0.89 TODAY/HUGE CHANGES IN SILVER AT THE SLV A HUGE DEPOSIT OF 4.538 MILLION OZ OF SILVER INTO THE SLV/: /// ///INVENTORY RESTS AT 492.262 MILLION OZ
OCT 6 WITH SILVER UP $0.63 TODAY/HUGE CHANGES IN SILVER AT THE SLV A HUGE WITHDRAWAL OF 7.67 MILLION OZ OF SILVER OUT OF THE SLV/: /// ///INVENTORY RESTS AT 487.724 MILLION OZ
OCT 3 WITH SILVER UP $1.43 TODAY/HUGE CHANGES IN SILVER AT THE SLV A HUGE WITHDRAWAL OF 8.893 MILLION OZ OF SILVER OUT OF THE SLV/: /// ///INVENTORY RESTS AT 495.394 MILLION OZ
OCT 1 WITH SILVER UP $1.09 TODAY/HUGE CHANGES IN SILVER AT THE SLV A HUGE DEPOSIT OF 5.264 MILLION OZ OF SILVER DEPOSITED INTO THE SLV/: /// ///INVENTORY RESTS AT 504.287 MILLION OZ
SEPT 30 WITH SILVER DOWN $0.34 TODAY/HUGE CHANGES IN SILVER AT THE SLV A HUGE DEPOSIT OF 5.129 MILLION OZ OF SILVER DEPOSITED INTO THE SLV/: /// ///INVENTORY RESTS AT 499.023 MILLION OZ/
SEPT 29 WITH SILVER UP $0.37 TODAY/SMALL CHANGES IN SILVER AT THE SLV A SMALL WITHDRAWAL OF 0.908 MILLION OZ OF SILVER DEPOSITED OUT OF THE COMEX/: /// ///INVENTORY RESTS AT 493.894 MILLION OZ//
SEPT 26 WITH SILVER UP $1.58 TODAY/SMALL CHANGES IN SILVER AT THE SLV A SMALL DEPOSIT OF 0.681 MILLION OZ OF SILVER DEPOSITED INTOTHE COMEX/: /// ///INVENTORY RESTS AT 494.802 MILLION OZ//
SEPT 25 WITH SILVER UP $1.44 TODAY/HUGE CHANGES IN SILVER AT THE SLV A MASSIVE WITHDRAWAL OF 3.222 MILLION OZ OF SILVER OUT OF THE COMEX THE COMEX/: /// ///INVENTORY RESTS AT 494.121 MILLION OZ//
SEPT 24 WITH SILVER DOWN $0.48 TODAY/HUGE CHANGES IN SILVER AT THE SLV A MASSIVE DEPOSIT OF 3.222 MILLION OZ OF SILVER VAPOUR ENTERED THE COMEX/: /// ///INVENTORY RESTS AT 497.343 MILLION OZ//
SEPT 23 WITH SILVER UP $0.32 TODAY/HUGE CHANGES IN SILVER AT THE SLV A MASSIVE DEPOSIT OF 5.265 MILLION OZ OF SILVER VAPOUR ENTERED THE COMEX/: /// ///INVENTORY RESTS AT 494.121 MILLION OZ//
SEPT 22 WITH SILVER UP $1.16 TODAY/NO CHANGES IN SILVER AT THE SLV: /// ///INVENTORY RESTS AT 488.357 MILLION OZ//
SEPT 19 WITH SILVER UP $0.89 TODAY/HUGE CHANGES IN SILVER A WITHDRAWAL OF 0.908 MILLION OZ OUT OF THE SLV: /// ///INVENTORY RESTS AT 488.357 MILLION OZ//
SEPT 18 WITH SILVER DOWN $0.69 TODAY/HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 0.908 MILLION OZ OUT OF THE SLV: /// ///INVENTORY RESTS AT 488.357 MILLION OZ//
SEPT 17 WITH SILVER DOWN $0.03 TODAY/HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 2.088 MILLION OZ INTO THE SLV: /// ///INVENTORY RESTS AT 489.265 MILLION OZ//
SEPT 16 WITH SILVER DOWN $0.05 TODAY/HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.500 MILLION OZ INTO THE SLV: /// ///INVENTORY RESTS AT 487.177 MILLION OZ//
SEPT 15 WITH SILVER UP $0.28 TODAY/NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 485.677 MILLION OZ//
SEPT 12 WITH SILVER UP $0.46 TODAY/NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 485.677 MILLION OZ//
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./
CLOSING INVENTORY 504.015 MILLION OZ OF SILVER
PHYSICAL GOLD/SILVE
1/PETER SCHIFF
JOHN RUBINO
jAMES RICKARDS
2. MATHEW PIEPENBURG/VON GREYERZ
ALASDAIR MACLEOD…
Volatility is normal
Gold and silver have been marked down sharply over two days. If you have been shaken by the speed and magnitude, then that is the market makers’ objective.
| Alasdair MacleodOct 21 |
So what’s going on?
Market makers and bullion banks have been badly squeezed by the recent rise in gold and silver. In theory, they are long in London and short on Comex so have even books. We cannot know if this is true of all of them (unlikely) and we are talking about derivatives, not bullion. No financial institution wants to hold bullion unnecessarily, because it ties up capital. But it is bullion which is now demanded in London.
Whether market makers and bullion banks are acting in concert to bash the market matters not. The commencement of a market correction would have been spotted by all of them, and they would have withdrawn their bids and even sold some positions to help push prices lower. And as nervousness spreads on falling prices, buyers just stand back. Given the enormous rises in price since mid-August, sudden falls of 5-10% are normal in this context, but it is likely to have shaken out a few panicking sellers allowing the shorts to close some of their positions.
MacleodFinance Substack is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
For them, the last two days have been very profitable both on trading volumes and mark-to-market wise.
Furthermore, unless you are running a book in London or Comex and have the valuable information to hand which goes with it, it would be foolhardy to try to call the turn. Leave that to someone else.
Long experience of being whipsawed in various financial markets has educated me to a) not make specific price forecasts, and b) buy or sell if it is right to do so and not rely on gut feel, forms of analysis, or your personal ouija board. Traders more sophisticated than you lose money in these markets.
Given that this volatility is aimed at dislodging weak bulls, you must have a good reason for holding gold and silver, if indeed you do so. Providing that knowledge is the objective of MacleodFinance.com.
Then you can smile at the antics of other market participants and sleep easy at night!
3. CHRIS POWELL AND HIS GATA DISPATCHES
4. ANDREW MAGUIRE/LIVE FROM THE VAULT KINESIS /245
5. COMMODITY REPORT/RARE EARTHS/LITHIUM/MINING
ASIAN MARKETS THIS WEDNESDAY MORNING:
SHANGHAI CLOSED DOWN 15.30 POINTS OR 0.33%
//Hang Seng CLOSED CLOSED DOWN 245.78 PTS OR 0.94%
// Nikkei CLOSED : DOWN 245.78 PTS OR 0.94% //Australia’s all ordinaries CLOSED DOWN 0.71%
//Chinese yuan (ONSHORE) CLOSED DOWN TO 7.1249// OFFSHORE CLOSED DOWN AT 7.1272/ Oil UP TO 58.36 dollars per barrel for WTI and BRENT UP TO 62.39 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING DOWN TO 7.1249 // OFFSHORE YUAN TRADING DOWN TO 7.1272 :/ONSHORE YUAN TRADING ABOVE OFF SHORE / AND THUS WEAKER/OFF SHORE YUAN TRADING DOWN 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 AT 7.1249
OFFSHORE YUAN: DOWN TO 7.1272
HANG SENG CLOSED DOWN 245.78 PTS OR 0.94%
2. Nikkei closed DOWN 8.22 PTS OR 0.02%
3. Europe stocks SO FAR: ALL MIXED
USA dollar INDEX UP TO 98.78 EURO FALLS TO 1.1599 DOWN 1 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +1.647//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 151.65…… 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: 3.116 DOWN 2 FULL 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 UP CHINESE ONSHORE YUAN: DOWN OFFSHORE: DOWN
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and UP FOR BRENT this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.5150// Italian 10 Yr bond yield DOWN to 3.345 SPAIN 10 YR BOND YIELD DOWN TO 3.084
3i Greek 10 year bond yield DOWN TO 3.215
3j Gold at $4075.40 Silver at: 48.36 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 2 AND 50 /100 roubles/dollar; ROUBLE AT 83.88
3m oil (WTI) into the 58 dollar handle for WTI and 62 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 151.65/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.647% STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE IS NOW UNWINDING.//JAPAN 30 YR: 3.140 UP 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 0.7959 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9232 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: 3.956 DOWN 1 BASIS PTS…
USA 30 YR BOND YIELD: 4.542 DOWN 1 BASIS PTS/
USA 2 YR BOND YIELD: 3.491 DOWN 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 41.98 UP 1 BASIS PTS/LIRA GETTING KILLED
10 YR UK BOND YIELD: 4.399 DOWN 8 PTS
30 YR UK BOND YIELD: 5.199 DOWN 7 BASIS PTS
10 YR CANADA BOND YIELD: 3.081 UP 2 BASIS PTS
5 YR CANADA BOND YIELD: 2.656 UP 2 BASIS PTS.
a New York OPENING REPORT
Futures Flat As Gold Selloff Extends
Wednesday, Oct 22, 2025 – 08:34 AM
US equity futures are flat again, with tech and small caps lagging as traders parsed the latest earnings reports and corporate news amid worries over trade, the US government shutdown and geopolitical risks. Gold and silver extended declines after Tuesday’s slump. As of 8:00am, S&P futures were unchanged while Nasdaq futures dropped 0.2% after a rally on Wall Street lost steam. Pre-market, Mag7 names are mostly weaker ex-GOOG on its cloud deal. Netflix tumbled 6.8% in premarket trading after the streaming-video company reported third-quarter results that missed across the board despite stronger forecasts. Texas Instruments also plunged about 8% on an underwhelming outlook. Meme stocks are back, with Krispy Kreme among those joining Beyond Meat in the retail trader frenzy today. Mining stocks are weaker pre-market though gold and silver are bouncing off their overnight lows; both are underperforming platinum / palladium. The yield curve shifts lower and the USD continues its recent move higher. USD is +2.5% since making a 52-wk low on Sep 16. The balance of the commodity complex is bid with WTI +1.7% the standout on report that US and India are nearing an accord that could lead India to reduce imports of Russian crude. US / China situation still has aides talking behind closed doors as Trump / Xi remain likely to meet next week. There is no macro today .
In premarket trading, Netflix and Texas Instruments shares are both lower after disappointing results, with Tesla and IBM among the big names to watch later. The EV maker is expected to post a 25% drop in quarterly profits — but traders may not care. The shares have more than doubled in the past year on AI hopes.
- Mag 7 stocks are mostly lower. Alphabet (GOOGL) rises 1.8% as Anthropic is in discussions with Google about a deal that would provide the artificial intelligence company with additional computing power valued in the high tens of billions of dollars, according to people familiar with the matter (Tesla -0.2%, Nvidia +0.06%, Meta -0.1%, Microsoft +0.2%, Apple -0.6%, Amazon -1.3%).
- Alector (ALEC) tumbles 50% after the drug developer said a late-stage trial of its lead asset as an investigative treatment for dementia failed to meet a primary endpoint.
- AT&T Inc. (T) rises 1.4% after the company added more mobile-phone and home internet subscribers this summer than analysts expected.
- Avadel Pharmaceuticals (AVDL) gains 4% after Alkermes agreed to buy the company for up to $20 per share.
- Beyond Meat Inc. (BYND) soars 85%, boosting its four-day rally to almost 1,300%, in an echo of the meme-stock frenzies that periodically roil the market.
- DraftKings (DKNG) climbs 3% after the sports betting company said it acquired predictions platform Railbird for an undisclosed amount.
- Intuitive Surgical (ISRG) rallies 16% after the robotic-surgery company boosted its worldwide da Vinci procedure growth forecast for the full year.
- Manhattan Associates (MANH) falls 7% after the supply-chain software company posted a key metric — “remaining performance obligations” — for the third quarter that fell short of estimates.
- Mattel Inc. (MAT) is down 5% after the company reported third-quarter sales and earnings that missed analysts’ estimates as US retailers delayed orders due to uncertainty over President Donald Trump’s tariff policies.
- Netflix (NFLX) falls 7% after the streaming-video company reported third-quarter results it said were hurt by a tax dispute with Brazil.
- Texas Instruments (TXN) drops 7% after the chipmaker gave an outlook that is weaker than expected. The outlook indicates that some customers are slowing orders as they navigate mounting trade tensions.
- Vertiv Holdings (VRT) is up 6% after the company boosted its adjusted earnings per share guidance for the full year; the guidance beat the average analyst estimate.
- Warner Bros. Discovery Inc. (WBD) gains 2% after saying it’s considering a possible sale of the company after receiving unsolicited interest from multiple parties. Netflix Inc. and Comcast Corp. are weighing bids for parts of the media and entertainment company, according to people with knowledge of the matter.
In other company news, Anthropic PBC is said to be in talks with Alphabet’s Google about a deal that would provide the AI company with additional computing power valued in the high tens of billions of dollars. Apple’s iPhone Air got a subdued response from consumers in China.
Early US earnings point to the best corporate results in four years, with 85% of companies reporting beats. Despite recent de-risking amid concerns over trade and credit, stock exposure among global macro hedge funds and long-only strategies remains at the highest in over a year, according to Barclays Plc. Drawdowns have been short-lived as investors see them as opportunities to add risk to their portfolios.
Earnings will “play a decisive role in determining whether the rally can be sustained,” said Linh Tran, a market analyst at XS.com. “Profit expectations for major tech companies have been revised upward, while consumer and financial sectors may benefit from resilient demand and higher interest margins. If corporate results continue to outperform forecasts, this could help the S&P 500 extend its gains into Q4.”
Markets are also keeping one eye on trade news ahead of the resumption of US-China talks. Six months into Trump’s trade war, the resilience of Chinese exports is proving just how essential many of its products remain even after US levies of 55%.
Gold fell more than 2%, closing in on $4,000 an ounce and deepening its worst intraday drop in more than a dozen years in the previous session, amid concerns its rally had run too far, too fast. Silver also declined following Tuesday’s 7.1% fall. Gold’s drop on Tuesday drove the VanEck Gold Miners ETF down 9.4% in its biggest drop since 2020. Still, gold mining stocks are still on track for their biggest ever annual gain over the S&P 500.
Bond traders are preparing for yields to drop further even as the 30-year sank to its lowest in six months on Tuesday. The cost of protection against a bigger decline in yields across the curve is rapidly rising, according to pricing of options wagers. Traders are piling into some risk-off assets as the US government shutdown becomes the second longest on record and amid renewed concerns over the credit market. Meanwhile, dollar trading has become unusually subdued, with the Bloomberg Dollar Spot Index remaining within one standard deviation of its average for about 80% of the time over the past 60 trading days, according to data compiled by Bloomberg.
In Europe, the Stoxx 600 index dipped, with consumer products and services leading declines after results from L’Oreal SA, Hermes International SCA and Adidas AG failed to meet lofty expectations. Energy stocks led gains as crude oil rose. UK stocks got a boost with the FTSE 100 rising 0.7% after UK CPI surprised to the downside as traders ramp up bets on an interest-rate cut by the Bank of England before year end. Among companies reporting in Europe on Wednesday, Barclays Plc gained after raising its earnings guidance and unveiling a £500 million buyback. Akzo Nobel NV slumped after the paintmaker lowered its earnings outlook, with customers more hesitant to spend amid rising global tariffs and softer economic conditions. Here are the biggest movers Wednesday:
- Precious metals miners in South Africa and Europe rose on Wednesday as gold and silver prices steadied, after suffering their steepest selloffs in years.
- Barclays shares rise as much as 4.1% after the UK lender increased its 2025 guidance and announced a £500 million share buyback, with investors looking beyond an increased provision for motor finance
- Heineken shares rise 2.3% as analysts say a soft quarterly print was no worse than expected. The company’s move of Ebit growth guidance to the lower end of the range had been foreseen, according to consensus views
- Handelsbanken gains as much as 2.1% after posting a slight beat to net interest income (NII) in its third-quarter report. Lower-than-expected costs also contributed to a solid showing from the Swedish lender
- European chipmakers slip on Wednesday after US peer Texas Instruments forecast 4Q sales below estimates, signaling a delay in the rebound of the automotive and industrial chip sector
- ITV shares plummet as much as 12% after the broadcaster’s largest shareholder Liberty Global cut its stake in half after offering shares at a discount
- L’Oreal shares fall as much as 8%, the steepest drop in a year, after the cosmetics company reported third-quarter like-for-like sales that fell short of elevated market expectations
- Hermes falls as much as 5% after sales at constant exchange rates for the third quarter showed double-digit growth in most regions, but key division leather goods slightly missed estimates, while valuation premium is stretched, according to analysts
- DNB Bank shares drop as much as 4.3%, the most since July, after the Norwegian lender posted a disappointing third-quarter report, according to analysts, who flagged misses on net interest income (NII) and fee
- Adidas shares dip as analysts say the sportswear maker’s increased full-year earnings forecast was only in-line with consensus and note a slight miss in third-quarter sales
- TeamViewer shares slump as much as 24% to a record low after the software maker reduced its annual recurring revenue guidance for this year and sales outlook for next year
Asian stocks fell, weighed down by technology shares as investors rushed to lock in gains amid doubts about the sector’s staying power. The MSCI Asia Pacific Index dropped as much as 0.6% before paring some losses, with TSMC, SoftBank Group and Alibaba among the biggest drags. Shares in Hong Kong and Vietnam declined, while South Korea’s Kospi rose. Chipmakers and other AI-related stocks in Asia, including SoftBank, declined after Texas Instruments presented a disappointing outlook, which added to concerns that the sectors’ shares may have been running too hot. Precious-metal stocks also tumbled after gold and silver posted their steepest selloffs in years. The slide in Hong Kong and mainland Chinese stocks came despite a bullish long-term call from Goldman Sachs Group Inc., which predicted key stock gauges may gain 30% by the end of 2027. The strategists argued the upside will be supported by pro-market policies, rising profits and strong capital flows. Here Are the Most Notable Movers
- Bangkok Bank shares advance after the lender’s third-quarter net income rose 11% on year, beating the average analyst estimate, partly driven by investments.
- LG Chem Ltd. shares surged by the most in five years after Palliser Capital UK disclosed a stake in the firm and urged changes, in a sign that overseas activists are starting to wade back into South Korea.
- IHI shares climb as much as 5.5% to ¥2,995 after Mizuho Securities raised its target price to ¥3,300 from ¥1,071, saying it expects growth in the civil aero engines business and expansion of defense-related operations.
- Laopu Gold shares fall as much as 8.1%, the most since Sept. 10, after the Chinese jewelry seller agreed to issue about 3.71 million new H shares at HK$732.49 apiece in a placement.
- Pop Mart shares rise as much as 7.9% after the toymaker’s third quarter sales growth of as much as 250% year-on-year came amid investor worries over the possible fading popularity of its collectible toys.
- Innovent Biologics shares rise as much as 9.9% in Hong Kong after the company said it will receive a $1.2 billion upfront payment, including an equity investment, as part of a strategic collaboration with Takeda Pharmaceutical to develop cancer therapies.
- Meituan shares drop 0.5% as JPMorgan cuts its target price, saying the company may face worst-than-expected pressure in its 3Q and 4Q results due to competition in China’s food delivery market and its expansion overseas.
- Taiheiyo Cement shares gain as much as 6% in early Tokyo trading, the most since April 10, following a report in Nikkei that Palliser Capital has taken a stake of over 3%.
In FX, the Bloomberg Dollar Spot Index rose 0.1%, taking gains into a fourth straight day; the index’s thin gains were led by the US currency’s advance versus the pound, which stumbled after data showing steady UK inflation raises speculation of an interest-rate cut in December. A 1% slide in gold prices also supported the greenback, suggesting that investors still see the currency as a viable haven. The pound fell 0.4% against the dollar and is the clear G-10 underperformer.
In rates, treasury yields sliding again, dropping more than 4bps with 10-year around 3.93%, near Tuesday’s low. They trail steep gains for gilts, where 2-year yields fell more than 10bp to 14-month low after UK headline, core and services CPIs fell short of estimates. UK yield curve is notably steeper as market prices in an increased 70% chance Bank of England cuts rates a quarter-point by December. The US session includes 20-year bond reopening: the $13 billion 20-year bond reopening, first coupon auction in more than a week, has WI yield near 4.510%, about 10bp richer than last month’s 20-year sale, which stopped through by 0.2bp
In commodities, WTI crude oil futures are up about 2%, which along with the 20-year auction creates resistance to lower Treasury yields. Oil is higher on report that US and India are nearing an accord that could lead India to reduce imports of Russian crude. Spot gold is down $50, having recovered from an earlier nosedive toward $4,000/oz. Silver dips 0.7% while Bitcoin is down 2.4%.
The US economic calendar calendar is blank, and Fed’s external communications blackout ahead of the Oct. 29 Fed policy decision began Saturday. Earnings after the close include Tesla and IBM.
Market Snapshot
- S&P 500 mini little changed
- Nasdaq 100 mini -0.2%
- Russell 2000 mini -0.2%
- Stoxx Europe 600 -0.2%
- DAX -0.3%, CAC 40 -0.6%
- 10-year Treasury yield -1 basis point at 3.96%
- VIX +0.1 points at 17.96
- Bloomberg Dollar Index little changed at 1212.96
- euro little changed at $1.1596
- WTI crude +1.7% at $58.19/barrel
Top Overnight News
- The US government shutdown is now the second-longest in history, and with Trump expected to head to Asia later this week, lawmakers and congressional aides see a real possibility of the closure extending into November. BBG
- US companies are beating earnings expectations at the highest rate in over four years, with 85% surpassing profit estimates in the third quarter so far. BBG
- Trump said he won’t meet with Democratic leaders unless the government is reopened.
- Trump’s administration plans to release over USD 3bln in aid to US farmers previously frozen due to government shutdown: WSJ.
- US has offered energy companies access to nuclear waste that they can convert into fuel for advanced reactors in an attempt to break Russia’s stranglehold over uranium supply chains: FT.
- Bessent is facing mounting pressure to justify Washington’s multibillion dollar rescue of Argentina as a political backlash builds over the administration’s efforts to support Milei. The Treasury secretary has taken the lead in managing Trump’s effort to provide financial support for Milei’s libertarian government, which the US sees as a crucial Latin American ally, through a package of measures designed to prop up its economy and its currency, the peso. FT
- China is demanding some US semiconductor firms submit sensitive information about their sales in the world’s largest chips market as part of its probe of American suppliers. BBG
- As Japan’s new premier Sanae Takaichi got to work on Wednesday, her government began finalising a purchase package, including U.S. pickups, soybeans and gas, to present to President Donald Trump in trade and security talks next week, two sources said. RTRS
- Japan’s new Prime Minister Sanae Takaichi is preparing an economic stimulus package that is likely to exceed last year’s $92 billion to help households tackle inflation, government sources familiar with the plan said on Wednesday. RTRS
- Indonesia unexpectedly leaves rates unchanged at 4.75% (the Street was anticipating a cut to 4.5%). BBG
- India and the United States are nearing a long-stalled trade agreement that would reduce U.S. tariffs on Indian imports to 15% to 16% from 50%, India’s Mint reported on Wednesday citing three people aware of the matter. The deal, which hinges on energy and agriculture, may see India gradually scale back its imports of Russian crude oil. RTRS
- The U.K.’s annual rate of inflation in September unexpectedly held at the pace of the previous month, raising the chance that Bank of England policymakers could cut interest rates later this year, despite price rises remaining at a level still well above the central bank’s target. CPI comes in cooler than anticipated at +3.8% Y/Y on the headline (vs. the Street +4%), +3.5% on core (vs. the Street +3.7%), and +4.7% on services (vs. the Street +4.8%). WSJ
Trade/Tariffs
- US President Trump reiterated that the November 1st tariffs on China will be about 155% and that higher tariffs on China won’t be sustainable for them, while Trump also said he spoke with India’s PM Modi on Tuesday and talked about trade.
- South Korean chief presidential policy aide said South Korea and the US stand apart on a couple of matters in tariff talks.
- South Korea Minister for Trade Yeo expressed concern in a call with China’s Li Chenggang regarding Beijing’s shipbuilding curbs, while he asked Li to swiftly lift sanctions on South Korea shipbuilder Hanwha Ocean and discussed China’s rare earths export restrictions.
- India and the US are closing in on a long-pending trade deal that could slash current tariffs from Indian exports to between 15-16% from 50%, according to Mint citing three people aware of the matter.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were mostly subdued following the mixed handover from the US, where participants digested a mixed bag of earnings releases, and precious metals slumped, with a historic drop seen in gold following the recent record-setting rally. ASX 200 retreated with heavy losses in the mining sector after gold prices fell by the most since 2013 and which was its largest one-day dollar value drop on record. Nikkei 225 briefly dipped beneath the 49,000 level with early pressure seen following mixed trade data, although the index gradually pared its early losses as participants also reflected on the new Takaichi-led government, with the PM instructing the cabinet to compile a package of steps to cushion the blow from the rising cost of living. Hang Seng and Shanghai Comp were subdued following a slew of recent trade-related rhetoric, including from US President Trump, who reiterated 155% tariffs on China from November 1st and that he will meet with Chinese President Xi in two weeks, but then also commented that maybe that meeting won’t happen.
Top Asian News
- Japanese PM Takaichi is preparing economic stimulus expected to exceed last year’s JPY 13.9tln, with the package to be built around three main pillars which are measures to counter inflation, investment in growth industries and national security, according to sources cited by Reuters.
- Japanese PM Takaichi is to meet with US President Trump on October 28th and will discuss national defence. It was later reported that Japanese Chief Cabinet Secretary Kihara said US President Trump is to visit Japan from October 27th to 29th and is to meet Japan’s Emperor and PM Takaichi during the visit.
- Japanese Minister for Economic Security Kiuchi says it is important that the government and the BoJ continue to cooperate and carry out responsible macroeconomic policies, while he hopes the BoJ will closely coordinate with the government to achieve the 2% inflation target, and stated that the economy needs to be supported until strong real wage growth is achieved.
- Japan’s Finance Minister Katayama announces that Prime Minister Takaichi will proceed with fiscal reform both in terms of spending and revenue. Says weak JPY boosts food costs, so there needs to be a quick measurement to cushion impact. “Takaichi Trade” has somewhat calmed down.
European equities (STOXX 600 -0.2%) are mostly lower today, but with outperformance in the FTSE 100 (+0.4%) after the UK’s inflation report, which has boosted bets around a cut in December. European sectors hold a negative bias. Energy and Utilities lead the pile, with the former benefiting from strength in oil prices today. To the downside, Consumer Products is pressured by post-earning losses in L’Oreal (-6.2%), Hermes (-4.4%) and Adidas (-2%). Beauty name L’Oreal is pressured after a notable quarterly sales miss, Hermes was more-or-less in-line, yet still disappointed investors after recent resilience; Adidas is seemingly swept away with the sectoral losses, given it reported a beat on its headline metrics, and lifted guidance. US equity futures are modestly incrementally lower today, continuing similar price action seen in the prior session. Key pre-market movers today include; Netflix (-7.1%, Q3 profit miss, hit by a Brazilian tax dispute, but sales were in line), Texas Instruments (-8%, co. issued a soft forecast for the next quarter). Apple (AAPL) is reportedly drastically cutting iPhone Air production orders but boosting other 17 models, via Nikkei citing sources; reflecting lukewarm Air demand ex-China and unexpectedly robust 17 & 17 Pro demand.
Top European News
- UK Chancellor Reeves targets tax partnerships in crackdown on UK’s wealthy with Reeves preparing a crackdown on lawyers, accountants, doctors and other professionals who use tax partnerships, according to FT.
- Politico reports that a decision on whether to postpone the French Social Affairs Committee’s examination of the Social Security Budget will be taken this morning; in the context of a “rectifying letter” re. pensions likely being adopted on Thursday.
- SNB’s Schlegel says inflation is expected to rise slightly in the coming quarters Planned US tariffs on some pharma products could increase downside risk for the economy. Uncertainty in the economy remains high. Will continue to observe the situation and adj. monetary policy where necessary.
FX
- USD is mildly firmer/flat. Nothing really driving things at the moment, but traders are mindful of trade/shutdown developments, and as some begin to position themselves ahead of Friday’s inflation report. For context, some of the recent upside seen in the dollar has been attributed to; a) reversal of debasement trade, b) steep correction in gold, c) easing credit concerns. DXY is currently trading at the upper end of the day’s 98.84-99.05 range
- EUR is essentially flat and trades in an incredibly tight 1.1590-1.1615 range; nonetheless, the bias for today’s price action has been mildly downward. Lacklustre price action, which comes amidst a lack of pertinent newsflow. Some focus on reports that several EU leaders have called for the bloc to review, reduce and restrain legislation to reduce the burden on business, via Reuters.
- JPY is essentially flat/mildly lower vs USD, and currently trades in a 151.48-151.95 range, just shy of the 152.00 mark. On trade, Reuters reported that PM Takaichi is to tell US President Trump that the country will buy US soybeans, pickups and LNG, though may not commit to a new defence spending target. As a reminder, the POTUS will visit Japan from October 27-29. On economic policy, Takaichi is reportedly readying an economic stimulus which is set to top JPY 13.9tln; Reuters suggested measures are to counter inflation, investment in growth industries and national security. Elsewhere, Japan’s Finance Minister Katayama echoed her PM’s recent remarks, pushing back on the government’s involvement with the BoJ. Katayama said it is up to BoJ on specifics on monetary policy but should work together to have effective economic policies.
- GBP is the clear underperformer vs USD today, following the region’s soft inflation report. In detail, headline Y/Y was unchanged from the prior at 3.8% (exp. 4%), with the Services components also softer-than-expected. In an immediate reaction, GBP/USD fell from 1.3384 to 1.3343, before extending to a trough of 1.3314 where the pair currently resides. Further levels to the downside include the low from October 15th and then last week’s worst at 1.3248. Following the release, market pricing has shifted dovishly, with markets now assigning a 74% chance of a cut by year-end vs 44% pre-release; the first full 25bps cut is priced in by Feb 2026.
- Antipodeans are the marginal G10 performers today, benefiting from a recent bounce back in metals prices as spot gold and base metals clamber off from the hefty pressure seen in the prior session.
- PBoC set USD/CNY mid-point at 7.0954 vs exp. 7.1225 (Prev. 7.0930)
Fixed Income
- USTs are flat. In a very thin 113-21 to 113-25 band. Focus thus far has been on the mixed trade rhetoric out of the US yesterday with Trump previewing his potential meeting with China’s Xi saying he expects the negotiation to be good. However, he then added that maybe the meeting will not occur. Otherwise, the US docket is limited owing to the shutdown and Fed blackout; note, Barr is scheduled. On the shutdown, Trump overnight poured some cold water on the situation by saying he won’t be meeting with Dem. leaders until the gov’t reopens.
- Bunds are contained, but has experienced a slightly choppy morning. Picked up to a 130.38 peak with gains of c. 15 ticks on the discussed UK inflation report before paring and falling back to a 130.16 low, with downside of around five ticks at most. Ahead, ECB’s de Guindos and Lagarde due, though recent comments from officials have not changed the narrative into the end-October meeting. A weak German auction (b/c 1.2x) sparked some very marginal pressure in Bunds.
- OATs trade broadly in-line with EGB peers in a 123.19 to 123.44 band while the OAT-Bund 10yr yield spread remains steady around the 80bps mark. For OATs, Amova’s Williams spoke to Bloomberg and outlined that they added to their overweight position on French debt in September, and believes OATs are still at attractive levels despite recent sovereign downgrades. On the spread, he believes a move above 100bps would cause the ECB to step in.
- Gilts are the clear outperformer today following the region’s inflation report. CPI for September remained at 3.8% Y/Y, cooler than the market and BoE forecast of 4.0%; pertinently, September represented the peak in the BoE’s inflation forecast horizon. Accompanying measures were also cooler-than-expected and while there were some slightly more mixed internals behind the headline figure and somewhat unusual moves in some subset components, the overall narrative is clearly a dovish one vs. consensus. As such, Gilts gapped higher by 54 ticks to 93.45 and then extended further to a 93.78 peak, notching a contract high. Action that pushed the UK 2yr yield down to 3.77% and below the 3.80% mark that desks have been attentive to recently, the 10yr also moderated to 4.4%, convincingly taking out 4.45%.
- Germany sells EUR 2.284bln vs exp. EUR 3.0bln 2.50% 2032 Bund: b/c 1.2x (prev. 1.5x), average yield 2.33% (prev. 2.52%), retention 23.87% (prev. 23.88%)
Commodities
- Crude benchmarks extended on Tuesday’s high during the APAC session as Mint citing sources reported that a US-India trade deal is near, that could see India cut Russian oil imports for a lower export tariff to 15-16% from 50%. WTI and Brent peaked at USD 58.50/bbl and USD 62.62/bbl respectively following the trade news but are currently trading slightly off best levels at USD 58.20/bbl and USD 62.30/bbl.
- Spot XAU began the European morning firmer, bouncing back from Tuesday’s 5% selloff, which was its biggest selloff since November 2020. Although, XAU was then pressured once again to currently trade around USD 4,065/oz – trough for today’s session was made overnight at USD 4,005.98/oz.
- Base metals have rebounded from Tuesday’s selloff following a trade deal near its completion between India and the US. 3M LME Copper dipped to a low of USD 10.54k/t before reversing a trending back through Tuesday’s range and is currently trading near session highs at USD 10.66k/t.
- US Private Inventory Data (bbls): Crude -3.0mln (exp. +1.2mln), Distillate -1.0mln (exp. -1.9mln), Gasoline -0.2mln (exp. -0.8mln).
- Russian overnight attack on Ukraine’s Poltava region damaged oil and gas industry facilities.
Geopolitics
- Russia obtained security guarantees from Ukraine to restore power to the Zaporizhia nuclear power plant, according to RIA.
- US President Trump said he has not made a determination yet regarding a meeting with Russian President Putin and doesn’t want to have a wasted meeting, while he still sees a chance for a Russia-Ukraine ceasefire.
- Russia’s Special Economic Envoy said ‘preparations continue’ for a Trump-Putin meeting.
- Russia’s Deputy Foreign Minister Ryabkov says preparations for a Russia-US summit is ongoing and there has been no agreement on a Lavrov-Rubio meeting; sees no major obstacles for a Trump-Putin meeting via RIA.
- Russia’s Kremlin says their position is well known with nothing else to add in regard to reports of a non-paper passed to USA on Ukraine. Preparation is necessary for Putin-Trump summit.
- Ukraine’s President Zelensky calls US President Trumps’ idea a good compromise in regards to the concept of stopping at the current lines.
- North Korea fired a missile, which the South Korean military said was a ballistic missile, while Japanese PM Takaichi later confirmed there was no damage to Japan’s exclusive economic zone and waters from the North Korean missile.
- US is reportedly trying to drive a wedge between Argentina and China with the Trump administration pushing officials in Argentina to limit China’s influence over the distressed South American nation, according to WSJ.
- China’s Defence Ministry said it is strongly dissatisfied with Australia’s statement about military aircraft around the Paracel Islands, while it added that organised troops are to resolutely block and drive away Australian military aircraft that ‘invaded’ China’s airspace.
- “Israel’s Channel 12: The security establishment warns that accelerating the implementation of the Trump plan may harm Israel’s security interests”, via Sky News Arabia
US Event Calendar
- 7:00 am: Oct 17 MBA Mortgage Applications -0.3%, prior -1.8%
- Fed’s External Communications Blackout (October 18 – October 30)
DB’s Jim Reid concludes the overnight wrap
Most markets put in another steady performance yesterday, with the S&P 500 (+0.003%) and the STOXX 600 (+0.21%) closing just below their record highs from a couple of weeks ago, whilst the 10yr Treasury yield (-1.7bps) hit a one-year low of 3.96%. Several factors contributed, including some positive noises on the trade outlook, alongside decent earnings releases. But even as bonds and equities were mostly rallying, it was a completely different story for commodities, with several posting very sharp falls. Indeed, gold prices (-5.30%) posted their biggest decline since August 2020, whilst silver (-7.12%) saw its biggest decline since the Liberation Day market turmoil in April.
That sudden selloff for precious metals really captured the market headlines, but to be honest there wasn’t a single catalyst that sparked the declines, and the big multi-year moves weren’t happening in other asset classes or commodities either. Moreover, the slump happened despite a decline in nominal and real bond yields, which usually help to support gold prices given it’s relatively more attractive to hold a zero-interest asset like gold when bonds aren’t yielding as much. So in many respects, it looked like a classic pullback after a relentless bull run over recent weeks, and it’s worth noting that the rolling two-month gain of more than +30% on Monday was already the strongest since the GFC. Indeed, last month saw real-terms gold prices move above their inflation-adjusted peak in January 1980, so it had never been more expensive. And even with yesterday’s moves, its gains of +57% since the start of the year would still make it the strongest annual performance since 1979, back when gold prices more than doubled after that year’s oil shock triggered a huge wave of inflation.
Whilst gold saw the biggest headline moves, there was plenty going on for US Treasuries, with a decent rally that pushed longer-dated yields to their lowest in some time. That was partly driven by a weak survey print from the Philadelphia Fed, as their non-manufacturing activity index came in at -22.2 in October, which is its lowest level in 4 months. To be fair, that isn’t a release that normally gets too much attention, but given the government shutdown, investors are more focused on the data that’s still coming out. So the print added to speculation that the Fed would cut rates rapidly in the months ahead if the economy weakened, particularly given the ongoing government shutdown. And in turn, 10yr Treasury yields (-1.7bps) closed at 3.96%, which is their lowest level since October 2024, whilst the 30yr Treasury yield (-2.6bps) fell to 4.54%, its lowest level since the Liberation Day turmoil in April.
Sentiment got a bit of a boost yesterday from various trade headlines, which added to investor optimism that a tariff escalation would be avoided. For instance, Trump said at the White House that he would see President Xi in South Korea, and that “I expect to be able to make a good deal with him”. However, Trump also floated that the meeting might not happen, saying “Maybe it won’t happen. Things can happen where, for instance, maybe somebody will say, I don’t want to meet”, so that briefly pushed the S&P 500 into negative territory again. And separately, Canadian PM Mark Carney said that they were in “intensive negotiations” with the US, and it was “possible” that a trade deal could be reached ahead of the APEC summit in South Korea next week.
The S&P 500 had traded slightly in the green for most of the day, before closing virtually unchanged (+0.003%), leaving the index just over a quarter of a percent from its record high two weeks ago. The equity moves were pretty mixed, with nearly 60% of the S&P 500 higher on the day, but the NASDAQ (-0.16%), Mag-7 (-0.31%) and the Russell 2000 (-0.49%) all fell back as value stocks outperformed. Bank stocks were among the underperformers, with the KBW Bank index (-0.37%) losing ground after rebounding the previous two sessions. And after the close, we heard from Western Alliance Bancorp, who saw a -10.81% fall in their share price last Thursday as the concerns around regional banks and private credit gathered pace. The banking group delivered an earnings and revenue beat even as it raised credit loss provisions to $80m (vs. $42.4m est.), and its share price was up +2.85% in after-hours trading. So that offered reassurance to markets after last week’s jitters, particularly after the smooth reaction to Zions Bancorp’s earnings the previous day, and S&P 500 futures are up +0.16% this morning.
In the meantime, the US government shutdown is entering day 22, which now makes this the second-longest shutdown, behind the 2018-19 shutdown that lasted for 35 days. Republican Senate Majority Leader John Thune said yesterday that Republican lawmakers were “hopeful that this will be the week we break out of this”, but there’s still no obvious sign of a compromise emerging between Republicans and Democrats. Indeed, the Polymarket odds for the end of the shutdown have continued to drift into the distance, with the chances of the shutdown lasting beyond November 16 up from 29% this time yesterday to 40% now. So that’s still impacting the usual flow of data, although we will get a delayed CPI report for September this Friday.
Over in Europe, markets put in a strong performance, and France’s CAC 40 (+0.64%) finally exceeded its record high from May 2024. That came alongside fairly broad-based gains, and the STOXX 600 (+0.21%) closed less than -0.1% beneath its own record high. Likewise, sovereign bonds rallied across the continent, with yields on 10yr bunds (-2.5bps), OATs (-2.0bps) and BTPs (-2.2bps) all moving lower. And for 10yr bunds, that took them down to 2.55%, their lowest level since June.
One exception to the global pattern of lower yields was in Canada, after their latest inflation report surprised on the upside. It showed headline CPI rising to +2.4% in September (vs +2.2% expected), whilst both the trim core and the median core measures tracked by the Bank of Canada also moved higher. So that led investors to dial back the likelihood of a rate cut next week, with markets pricing in a 73% chance by the close, down from 77% the previous day. And in turn, Canada’s 10yr government bond yield moved up +2.4bps to 3.08%, making it the only G7 country where yields moved higher yesterday.
Elsewhere, Brent crude oil prices (+0.51%) rebounded from their 5-month low on Monday to $61.32/bbl, on news that the US administration would begin refilling its Strategic Oil Reserve, starting with 1 million barrels. The oil move was also supported by more negative noise between the US and Russia, with Bloomberg reporting that the White House has no immediate plans for a Trump-Putin meeting given differences between the sides on potential ceasefire terms in Ukraine. Meanwhile, Trump himself said he did not want to have “a wasted meeting” with Putin.
Over in Japan, Sanae Takaichi became the new PM yesterday after winning a parliamentary vote. On monetary policy, she said that “I believe the BOJ should retain discretion over the tools of monetary policy”, and that she didn’t see a need to review the 2013 accord between the BOJ and the government. Against that backdrop, the yen weakened by -0.78% against the US Dollar yesterday, making it the weakest-performing G10 currency, although it’s stabilised again this morning. The Nikkei is also up +0.13% currently, leaving the index on track for another record high. And elsewhere in Asia, South Korea’s KOSPI (+0.77%) is also at a record high, although Chinese equities are struggling this morning, with the CSI 300 (-0.70%) and the Shanghai Comp (-0.44%) both losing ground.
To the day ahead now, and data releases include the UK CPI print for September, whilst central bank speakers include ECB President Lagarde and Vice President de Guindos. Otherwise, earnings releases include Tesla and IBM.
b) European opening report
c) Asian opening report
Uncertainty around Trump-Xi meeting and European equity futures lower – Newsquawk European Opening News
Wednesday, Oct 22, 2025 – 01:26 AM
- US President Trump said he will discuss a lot of things with Chinese President Xi in two weeks; however, he added that the meeting might not happen
- US futures are marginally firmer, while European futures point to a slightly lower cash open
- DXY softened overnight, EUR and GBP lifted modestly off Tuesday’s trough, USD/JPY contained and back below 152.00
- Fixed benchmarks rangebound into supply
- Crude underpinned by a Russian strike on Ukrainian energy infrastructure, XAU continued to falter to the USD 4k/oz mark but has since bounced
- Looking ahead, highlights include UK CPI (Sep), CCP 4th Plenum (20th-23rd), BoJ SLOOS, Speakers including ECB’s de Guindos, Lagarde & Fed’s Barr, Supply from Germany & US, Earnings from SAP, Barclays, Akzo Nobel, Tesla, IBM, Kinder Morgan, Alcoa, Lam Research, GE Vernova, Hilton, AT&T & Thermo Fisher.
- Click for the Newsquawk Week Ahead.
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1. Subscribe to the free premarket movers reports
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US TRADE
EQUITIES
- US stocks were mixed with the SPX and NDX ultimately closing little changed after a choppy session, while the DJI was bid and RUT underperformed. Sectors were also varied amid a flurry of earnings, with Consumer Discretionary and Industrials the outperformers following strong earnings from General Motors (GM), boosting auto names, while Industrials benefitted from upside in 3M (MMM) and RTX (RTX), albeit Lockheed Martin (LMT) and Northrop Grumman (NOC) earnings disappointed. Conversely, Utilities, Communications, and Materials lagged, with the latter hit by tumbling precious metal prices as Gold suffered its largest absolute drop on record, which fell from near ATH levels earlier in the session at USD 4,375/oz, with a fall to a low of USD 4,087/oz with profit taking, easing credit concerns, and a more friendly tone towards China from Trump, all cited for the move.
- SPX -0.01% at 6,735, NDX -0.06% at 25,127, DJI +0.47% at 46,925, RUT -0.52% at 2,487.
- Click here for a detailed summary.
TARIFFS/TRADE
- US President Trump said he will discuss a lot of things with Chinese President Xi in two weeks and reiterated that they are going to do well in that negotiation. However, he also commented that maybe the meeting with Chinese President Xi won’t happen.
- US President Trump reiterated that the November 1st tariffs on China will be about 155% and that higher tariffs on China won’t be sustainable for them, while Trump also said he spoke with India’s PM Modi on Tuesday and talked about trade.
- US CBP processed nearly 24mln packages since the US ended the de minimis exemption, which would have received duty-free treatment.
- US soy industry groups noted that there are no new US soybean sales to China and nothing is expected to be loaded in the coming weeks.
- EU Trade Commissioner Sefcovic said he held a video call with his Chinese counterpart and invited the Chinese authorities to Brussels in the coming days, which they accepted. Sefcovic said the scale of China’s export control, scaled up since April, is unjustified and harmful, while they agreed to intensify contacts at all levels, and he noted that a prompt resolution of rare earth restrictions is essential. A separate report also noted that China and the EU are set to hold export control talks in Brussels.
- Germany and France are supporting a push to discuss China’s increasingly restrictive trade measures at an EU leaders’ summit in Brussels on Thursday, according to Bloomberg citing sources.
- China reportedly eyes a 3-way currency swap with Japan and South Korea amid Trump’s tariff war, as Beijing seeks to strengthen regional financial ties and boost yuan use as US trade pressures weigh on East Asian economies, according to SCMP citing a source.
- South Korean chief presidential policy aide said South Korea and the US stand apart on a couple of matters in tariff talks.
- South Korea Minister for Trade Yeo expressed concern in a call with China’s Li Chenggang regarding Beijing’s shipbuilding curbs, while he asked Li to swiftly lift sanctions on South Korea shipbuilder Hanwha Ocean and discussed China’s rare earths export restrictions.
- India and the US are closing in on a long-pending trade deal that could slash current tariffs from Indian exports to between 15-16% from 50%, according to Mint citing three people aware of the matter.
NOTABLE HEADLINES
- US President Trump said he won’t meet with Democratic leaders unless the government is reopened.
- US Senate Majority Leader Thune is hopeful this will be the week the shutdown ends and is planning another vote on the stopgap bill on Wednesday.
- US President Trump’s administration plans to release over USD 3bln in aid to US farmers previously frozen due to government shutdown, according to WSJ.
- US has offered energy companies access to nuclear waste that they can convert into fuel for advanced reactors in an attempt to break Russia’s stranglehold over uranium supply chains, according to FT
APAC TRADE
EQUITIES
- APAC stocks were mostly subdued following the mixed handover from the US, where participants digested a mixed bag of earnings releases, and precious metals slumped, with a historic drop seen in gold following the recent record-setting rally.
- ASX 200 retreated with heavy losses in the mining sector after gold prices fell by the most since 2013 and which was its largest one-day dollar value drop on record.
- Nikkei 225 briefly dipped beneath the 49,000 level with early pressure seen following mixed trade data, although the index gradually pared its early losses as participants also reflected on the new Takaichi-led government, with the PM instructing the cabinet to compile a package of steps to cushion the blow from the rising cost of living.
- Hang Seng and Shanghai Comp were subdued following a slew of recent trade-related rhetoric, including from US President Trump, who reiterated 155% tariffs on China from November 1st and that he will meet with Chinese President Xi in two weeks, but then also commented that maybe that meeting won’t happen.
- US equity futures were rangebound following the prior day’s indecision on Wall St and mixed earnings results.
- European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 0.4% after the cash market closed with gains of 0.1% on Tuesday.
FX
- DXY marginally softened overnight following the prior day’s advances and with little fresh catalysts stateside. Nonetheless, there had been some optimism regarding the shutdown with Senate Majority Leader Thune hopeful that the shutdown would end this week, while Senate Minority Leader Schumer and House Minority Leader Jeffries reached out to President Trump to sit down and negotiate. However, President Trump has since dampened the hopes after he stated he won’t meet with Democratic leaders unless the government is reopened.
- EUR/USD attempted to nurse some of the prior day’s losses after recovering from a brief dip beneath the 1.1600 level.
- GBP/USD moved off the prior day’s trough but with upside capped ahead of UK CPI data, while it was also reported that UK Chancellor Reeves has vowed Budget measures aimed at curbing inflation and easing the cost of living, which is said to give space for further cuts in the coming months.
- USD/JPY was contained after a recent failure to sustain a brief foray into 152.00 territory, with early downside seen amid the mostly downbeat risk appetite, while mixed trade data from Japan had little effect on price action.
- Antipodeans were kept afloat, albeit within tight parameters in the absence of any pertinent data releases.
- PBoC set USD/CNY mid-point at 7.0954 vs exp. 7.1225 (Prev. 7.0930)
FIXED INCOME
- 10yr UST futures were uneventful amid light pertinent catalysts heading into a 20yr auction stateside.
- Bund futures traded little changed with near-term support seen around the 130.00 level and upside capped ahead of a Bund issuance.
- 10yr JGB futures recovered from an early wobble and returned to flat territory with little impact seen following mixed trade data and with markets also unmoved by comments from Japan’s new cabinet members, including Minister for Economic Security Kiuchi, who said it is important that the government and the BoJ continue to cooperate and carry out responsible macroeconomic policies.
COMMODITIES
- Crude futures eventually gained following the prior day’s whipsawing and amid a Russian strike which damaged oil and gas industry facilities in Ukraine’s Poltava region, while there was little reaction to the weekly private sector energy inventory, which showed a surprise draw in headline crude stockpiles.
- US Private Inventory Data (bbls): Crude -3.0mln (exp. +1.2mln), Distillate -1.0mln (exp. -1.9mln), Gasoline -0.2mln (exp. -0.8mln).
- US is to buy 1mln bbls for the SPR with oil for delivery in December 2025 and January 2026.
- Russian overnight attack on Ukraine’s Poltava region damaged oil and gas industry facilities.
- Spot gold initially extended on the prior day’s declines after it pulled back from all-time highs and suffered the largest percentage decline since 2013, with the slump attributed to profit taking, easing credit concerns, and a more friendly tone towards China from Trump. However, prices then staged a recovery after support held near the USD 4,000/oz level.
- Copper futures were lacklustre amid the mostly downbeat mood in the region and as trade uncertainty lingered.
CRYPTO
- Bitcoin heads into the European morning relatively flat after a choppy performance above the USD 108k level.
- Japan weighs allowing banking groups to trade cryptocurrencies, according to Nikkei.
NOTABLE ASIA-PAC HEADLINES
- Japanese PM Takaichi is preparing economic stimulus expected to exceed last year’s JPY 13.9tln, with the package to be built around three main pillars which are measures to counter inflation, investment in growth industries and national security, according to sources cited by Reuters.
- Japanese PM Takaichi is to meet with US President Trump on October 28th and will discuss national defence. It was later reported that Japanese Chief Cabinet Secretary Kihara said US President Trump is to visit Japan from October 27th to 29th and is to meet Japan’s Emperor and PM Takaichi during the visit.
- Japanese Minister for Economic Security Kiuchi says it is important that the government and the BoJ continue to cooperate and carry out responsible macroeconomic policies, while he hopes the BoJ will closely coordinate with the government to achieve the 2% inflation target, and stated that the economy needs to be supported until strong real wage growth is achieved.
DATA RECAP
- Japanese Trade Balance Total Yen (Sep) -234.6B vs. Exp. 22.2B (Prev. -242.8B)
- Japanese Exports YY (Sep) 4.2% vs. Exp. 4.6% (Prev. -0.1%)
- Japanese Imports YY (Sep) 3.3% vs. Exp. 0.6% (Prev. -5.2%)
GEOPOLITICS
MIDDLE EAST
- US Secretary of State Rubio plans to travel to Israel later this week or over the weekend.
RUSSIA-UKRAINE
- Ukrainian President Zelensky said Russia is doing everything to reject a diplomatic way to end the war and the postponement of the US decision on Tomahawks made Russia less interested in diplomacy.
- Ukrainian armed forces struck a chemical plant in southern Russia’s Bryansk region.
- Russia obtained security guarantees from Ukraine to restore power to the Zaporizhia nuclear power plant, according to RIA.
- Europe and Ukraine are said to ready a 12-point plan to end Russia’s war, according to Bloomberg.
- US President Trump said he has not made a determination yet regarding a meeting with Russian President Putin and doesn’t want to have a wasted meeting, while he still sees a chance for a Russia-Ukraine ceasefire.
- US Secretary of State Rubio and Russian Foreign Minister Lavrov had a productive call, while there are no plans for a Trump-Putin meeting in the immediate future, according to a senior White House official.
- Russia’s Special Economic Envoy said ‘preparations continue’ for a Trump-Putin meeting.
OTHER NEWS
- North Korea fired a missile, which the South Korean military said was a ballistic missile, while Japanese PM Takaichi later confirmed there was no damage to Japan’s exclusive economic zone and waters from the North Korean missile.
- US is reportedly trying to drive a wedge between Argentina and China with the Trump administration pushing officials in Argentina to limit China’s influence over the distressed South American nation, according to WSJ.
- China’s Defence Ministry said it is strongly dissatisfied with Australia’s statement about military aircraft around the Paracel Islands, while it added that organised troops are to resolutely block and drive away Australian military aircraft that ‘invaded’ China’s airspace.
EU/UK
NOTABLE HEADLINES
- UK Chancellor Reeves has vowed to smooth the path to further BoE interest rate cuts with Budget measures aimed at curbing inflation and easing the cost of living, according to FT. Reeves said she was determined to get a grip on borrowing and would take steps in her Budget to cut household bills, creating space for further BoE rate cuts in the coming months.
- UK Chancellor Reeves targets tax partnerships in crackdown on UK’s wealthy with Reeves preparing a crackdown on lawyers, accountants, doctors and other professionals who use tax partnerships, according to FT.
- Many EU leaders, including German Chancellor Merz, French President Macron and Italian PM Meloni, called for the EU to review, reduce and restrain legislation to reduce the burden on business, according to Reuters citing a letter. Furthermore, the leaders called for the modernisation of EU competition law and acceleration of merger control and state aid procedures at the EU level.
1A NORTH KOREA/SOUTH KOREA
SOUTH KOREA//NORTH KOREA/
2B JAPAN
3. CHINA
CHINA/
4 EUROPEAN/NATO AFFAIRS
PORTUGAL/MUSLIMS
(REMIX)
“If You Don’t Like It, Catch A Flight Home”; Chega Leader Tells Muslims As Portugal Moves To Ban The Burqa
Wednesday, Oct 22, 2025 – 03:30 AM
Authored by Thomas Brooke via Remix News,
Portugal’s parliament has approved a proposal to ban the wearing of burqas and niqabs in public spaces, with right-wing party Chega leading the initiative and its leader, André Ventura, telling those who disagree to “catch a flight back” to their countries of origin.
The bill, supported by the Social Democratic Party (PSD), Iniciativa Liberal, and CDS, passed its first reading on Thursday despite opposition from the Socialist Party (PS), Livre, the Communist Party (PCP), and the Left Bloc.
It will now be examined by the parliamentary committee on Constitutional Affairs, Rights, Freedoms and Guarantees, and must receive presidential sign-off before becoming law.
The proposal states that “the use of clothing designed to conceal or obstruct the display of the face in public spaces” will be prohibited, with exceptions for health reasons, places of worship, and diplomatic or consular facilities.
Penalties for violating the ban would range from €200 to €4,000.
Ventura argued that a woman “forced to wear a burqa” ceases to be “free and independent” and instead “becomes an object.” He accused the left of hypocrisy for defending women’s rights while “accepting a culture that oppresses them.”
Speaking to journalists after the vote, Ventura addressed immigrants directly.
“If you want to wear a burqa, there’s a good solution. Catch a flight and go back to your country. It’s easy to get to Portela Airport and buy a ticket back to Pakistan, Saudi Arabia, Morocco — wherever you want. You’re not needed here, sorry, but that’s the way it is.”
Chega lawmaker Madalena Cordeiro echoed the party’s stance, telling parliament:
“This isn’t Bangladesh, where everything is done as they please,” and declaring, “Enough of pretending that all cultures are equal.”
Ventura also noted that several European countries, including France, Austria, Belgium, and the Netherlands, have already enacted full or partial bans on face coverings, citing a European Court of Human Rights ruling that upheld France’s law as compatible with the European Convention on Human Rights.
The bill still requires the approval of President Marcelo Rebelo de Sousa, who could sign it into law, veto it, or refer it to the Constitutional Court for review.
The debate in Portugal comes amid a broader European push to limit Islamic dress in public spaces.
In Denmark, the Danish People’s Party last week pledged to ban the hijab — a headscarf that does not cover the face — in all public places. “We must have Denmark back. A Denmark where there are no scarves in schools, where Danish is spoken in nursing homes, where the Danes are masters of their own house again,” party leader Morten Messerschmidt said.
In the Netherlands, both Geert Wilders’ Party for Freedom (PVV) and Caroline van der Plas’s Farmer–Citizen Movement (BBB) have promised to extend the current partial burqa ban across all public institutions ahead of next week’s parliamentary elections.
END
HUNGARY
Hungary ‘Safest Country In Europe’ Thanks To Viktor Orbán, Says Foreign Minister Ahead Of Peace Talks
Wednesday, Oct 22, 2025 – 02:00 AM
Authored by Thomas Brooke via Remix News,
Hungary is now the safest country in Europe because of Viktor Orbán’s leadership and its commitment to diplomacy over war, Foreign Minister Péter Szijjártó declared on Sunday, announcing that Budapest is preparing to host a peace summit agreed by the American and Russian presidents.
Szijjártó said Hungary is “the most vocal European member of the international peace camp” and praised Orbán as the only European leader who has maintained “mutual respect” and cooperation with both Washington and Moscow through the war in Ukraine.
He said that from the very beginning of the Russian invasion, Hungary had offered to act as a mediator and is now ready to host a summit aimed at ending the conflict.
“We have just reached the point where the American and Russian presidents have agreed that the peace summit will be held in Budapest,” Szijjártó said. He echoed Orbán’s description of Hungary as “an island of peace,” contrasting this with what he described as “war policies” pursued by almost all other EU member states except Slovakia and Hungary.
“Brussels is preparing for war; it wants to arm Ukraine, wants to finance Ukraine with the money of the European people, while Hungary is organizing a peace summit. That is the difference,” he added.
The minister said Budapest had already been mentioned as a possible venue during preparations for a previous summit in Alaska. Orbán recently spoke with Donald Trump and Vladimir Putin, and Hungarian officials have held talks with U.S. and Russian diplomats. Preparatory meetings will now be organized, after which the summit’s agenda and date will be finalized, Szijjártó said.
Rejecting accusations that Hungary had isolated itself, he argued the opposite was true: “The European Union has isolated itself from the world’s most powerful political players.”
He accused Brussels of alienating itself from the United States through hostility toward Trump, from China by calling it a “systemic rival” and imposing tariffs on Chinese electric cars, from Russia through sanctions and soaring energy costs, and from Africa by attaching “gender-mad conditions” to trade cooperation.
Szijjártó also accused European politicians of trying to block peace efforts.
“We can be sure that the vast majority of European Union politicians will do everything in the coming weeks or days to prevent this summit from taking place, because if the summit takes place, it offers a chance for peace, and they are interested in prolonging the war,” he said.
END
My goodness!!
IRELAND
Riot Erupts At Irish Migrant Hotel After 10-Year-Old Allegedly Sexually-Assaulted
Wednesday, Oct 22, 2025 – 07:45 AM
Outraged by accusations that an asylum-seeker had sexually assaulted a 10-year-old girl, thousands of flag-waving, bottle-throwing, firework-wielding Irish citizens surrounded a migrant hotel in southwest Dublin, Ireland on Tuesday night, setting fire to a police vehicle.
Six people were arrested from a furious crowd estimated to have numbered approximately 2,000. The Irish police force — or “Gardai” — say they were on the receiving end of “sustained violence” that included glass bottles, bricks and fireworks. Despite the onslaught, a line of Gardai in riot gear were able to prevent the mob from reaching the hotel. Bringing the “torches and pitchforks” metaphor to life, the fed-up citizens brandished pitchforks and other garden tools, along with fireworks and handheld lasers, and chanted “GET THEM OUT!” Some 300 Gardai mounted the defense, employing a water cannon.
“This was obviously not a peaceful protest,” said police commissioner Justin Kelly. “The actions this evening can only be described as thuggery. This was a mob intent on violence against gardai. I utterly condemn the attacks on gardaí who did their jobs professionally and with great courage to keep people safe.”
The violence erupted at the Citywest hotel in Saggart. At 764 beds, it’s the largest hotel in all of Ireland, and last month the government bought it for €148 million so it could be converted to a permanent facility for housing migrants, euphemistically calling it an “international protection accommodation centre.” The purchase came over the objection of locals, who’d organized several protests over the summer and amassed more than 8,000 signatures on a petition against the permanent conversion. The hotel’s leisure center has 3,000 local members. The government plans to keep it open, though we’d imagine fewer locals will want to put themselves in reach of the hive of migrants.
That’s especially true after the latest of so many sexual assaults perpetrated by migrants throughout Europe. This one was especially sick: According to local media, a 26-year-old migrant was charged with sexually assaulting a 10-year-old girl on the hotel grounds between 11pm Sunday and 1:30am Monday. Reportedly, the girl has been in state care after her family struggled with her behavioral problems, but she’d given the slip to her minders on a recreational trip to downtown Dublin, only to fall prey to the 26-year-old migrant.
Consistent with Irish regulations on sex-assault cases, authorities haven’t named the alleged perpetrator, who told arresting officers, “I have nothing to say.” He’s been granted legal aid since he’s (shocker!) unemployed. While officials haven’t described his origins, his lawyer quickly asked for an Arabic interpreter. The Irish Times says their sources indicate he’s from an African country and came to Ireland six years ago. His asylum application was rejected last year, and earlier this year was given a deportation order — yet he has remained in the country.
Monday saw a mild protest at the hotel, with an orderly crowd of a mere 60 or 70. After word of the assault became widespread, local anger exploded on Tuesday, spurring thousands of Irish citizens to set upon the hotel, ready to unleash violence on the hotel and the Gardai protecting it.
Irish Justice Minister Jim O’Callaghan condemned the uprising, and attempted to portray the actions of the mob as unrepresentative of how local citizens feel about the mass infusion of supposed “asylum-seekers”:
“This is unacceptable and will result in a forceful response from the gardaí. Those involved will be brought to justice. It is clear to me from talking to colleagues that this violence does not reflect the people of Saggart. They are not the people participating in this criminality, but rather the people sitting at home in fear of it.”
In a pathetic move, O’Callaghan suggested the crowd wasn’t sincere in its outrage over the latest example of a sex crime perpetrated by a migrant who’s contributing nothing to Irish society, accusing the locals of opportunistically “weaponising….a crime…to sow dissent in our society.” Next he’ll tell us it has all the hallmarks of a Russian interference campaign.
END
GERMANY
VERY TROUBLESOME
VW Halts Golf Production In Wolfsburg As Chip Shortage Worsens
by Tyler Durden
Wednesday, Oct 22, 2025 – 09:05 AM
In 2022, European Commission President Ursula von der Leyen’s State of the Union address bragged about “toughest sanctions the world has ever seen” against Russia which she claimed at the time, “Russia’s financial sector is on life-support. We have cut off three quarters of Russia’s banking sector from international markets” and “The Russian military is taking chips from dishwashers and refrigerators to fix their military hardware, because they ran out of semiconductors. Russia’s industry is in tatters.”
Give von der Leyen’s speech a quick listen.
In true meme fashion, the best way to mock left-wing Brussels elites might be with a classic “How it started vs. How it’s going” – only this time, it’s not Russia in trouble, but rather von der Leyen may have spoken a little too soon. Memes are still legal in the U.S…
German tabloid newspaper Bild reports that Volkswagen is preparing to suspend production of one of its most popular models, the Golf, at its Wolfsburg factory today. The Tiguan and other models will follow this, as the worsening semiconductor shortage begins to send shockwaves across the European auto sector.
As explained by the German media outlet, the missing Chinese chips are due to the “supply stoppage of Nexperia chips.”
Here is more color on the situation:
In addition to the Golf and Tiguan, the Touran and Tayron are also manufactured in Wolfsburg.
The reason for the production suspension: a supply stoppage of Nexperia chips. The Nijmegen-based semiconductor manufacturer is at the center of a dispute between China and the United States. Under pressure from the US government, the Dutch government took control of Nexperia; in response, Beijing banned the export of Nexperia chips from the People’s Republic.
Nexperia also produces in Europe, but the majority of its chips come from China. VW apparently has no alternative at the moment. Semiconductors from other manufacturers would first have to be tested and certified, company sources said.
The chip crisis could affect not only VW but also the entire automotive industry and even other sectors. Spokespersons for BMW, Mercedes, and Daimler emphasized that the situation is being analyzed. Production at the companies is currently still running.
Production line stoppages will likely impact tens of thousands of employees in Europe’s largest economy. Other automakers like BMW, Mercedes, and Daimler are monitoring the situation, though their production continues.
The latest developments in the Nexperia turmoil that’s now rippling through the EU auto sector:
- Dutch Govt Suddenly Seizes Control Of China-Owned Chip Maker
- Chipmaker Nexperia’s China Arm Tells Staff To Ignore Dutch HQ, Deepening Semiconductor Split
VW has no timeline for when Nexperia chip deliveries will resume. Will the Germans soon be taking chips from dishwashers and refrigerators to build their VWs?
END
EU/SLOVAKIA/RUSSIA/HUNGARY
Slovak PM Claims EU Tried To Sabotage Canceled Trump–Putin Peace Summit In Budapest
Wednesday, Oct 22, 2025 – 08:45 AM
Authored by Thomas Brooke via Remix News,
Slovak Prime Minister Robert Fico has accused some within the European Union of attempting to sabotage peace by disrupting the now-canceled meeting between Russian President Vladimir Putin and U.S. President Donald Trump in Budapest.
“The foreign minister of a European Union member state says that Russian President V. Putin could be detained during a flight over this country, and the European Commission’s media environment is warning Hungary that it should implement an international arrest warrant,” Fico said in a statement released by the Slovak Government Office.
“I have always maintained that the EU has turned into a war cabinet, that a significant part of EU member states support the war in Ukraine in the naive belief that this way Russia can be weakened and even defeated,” he added, calling attempts to derail peace talks a “sad sight.”
Fico criticized what he called a paradox, where “some leaders are pushing for the Budapest summit” while others are undermining it. He said there were also efforts to include Ukrainian President Volodymyr Zelensky, describing this as “throwing pitchforks into a possible agreement.”
The foreign minister referred to by Fico is Poland’s Radoslaw Sikorski, who warned that his government could not guarantee Putin’s safe passage through Polish airspace, citing the International Criminal Court’s arrest warrant for the Russian leader over alleged war crimes. “I cannot guarantee that an independent Polish court won’t order the government to escort such an aircraft down to hand the suspect to the court in The Hague,” Sikorski told Radio Rodzina.
Sikorski said Poland, as a member of the ICC, is obliged to act if Putin enters its jurisdiction.
“I think the Russian side is aware of this,” he added.
“And, therefore, if this summit is to take place, hopefully with the participation of the victim of the aggression, the aircraft will use a different route.”
Fico had urged the European Union to do everything in its power to ensure that the Trump-Putin peace summit in Hungary goes ahead “as quickly as possible and without obstacles.”
He declared:
“The Trump-Putin summit in Budapest as soon as possible, without any obstacles and with the full support of the EU—that is my official position.”
Prospects for such a summit now appear to have dimmed. President Trump said on Tuesday that he did not want a “wasted meeting,” and the White House confirmed that there were “no plans” for a Trump-Putin meeting “in the immediate future,” following earlier suggestions that the two leaders would meet in Budapest within two weeks.
Trump said the sticking point was Moscow’s refusal to halt fighting along the current front line, noting, “Let it be cut the way it is. I said: cut and stop at the battle line. Go home. Stop fighting, stop killing people.”
Kremlin spokesman Dmitry Peskov said that Moscow’s position “doesn’t change,” insisting that Russia would only accept a “long-term, sustainable peace.” Foreign Minister Sergei Lavrov said the current proposal floated by Ukraine and the United States amounted merely to a temporary ceasefire and that “the root causes of the conflict” had to be addressed.
A preparatory meeting between U.S. Secretary of State Marco Rubio and Russian Foreign Minister Sergei Lavrov was due to be held this week, but the White House said the two had had a “productive” call and that a meeting was no longer “necessary.”
Hungarian Prime Minister Viktor Orban has previously stated that “Budapest is the only suitable place in Europe for a USA-Russia peace summit. With long-standing pro-peace leadership and trusted partnerships, we provide a reliable, secure, and politically stable setting. There was no other option. Simply put: They can count on us.”
END
5. RUSSIA AND MIDDLE EASTERN AFFAIRS
TBN ISRAEL/LAST 24 HR
ISRAEL VS HAMAS
Facing threats from Trump and Vance, Hamas says it’s committed to Gaza ceasefire
Saudi crown prince to visit White House next month as US administration pushes for Israel normalization deal * Nearly all Senate Democrats urge Trump to ‘reinforce’ his stance against West Bank annexation
Facing threats from Trump and Vance, Hamas says it’s committed to Gaza ceasefire
Members of the Hamas terror group apparently work on searching for bodies of the hostages in an area in Hamad City, Khan Younis, in the southern Gaza Strip, Oct. 17, 2025. (AP Photo/Abdel Kareem Hana)
In the face of threats from US President Donald Trump and Vice President JD Vance, Hamas says it remains committed to the ceasefire in Gaza, blaming Israel for breaching the agreement.
A delegation from the terror group says at a meeting with Turkish government officials today that the group remains committed to the deal despite what it called Israel’s “repeated violations,” according to a Hamas statement.
On Sunday, the IDF said terror operatives in Gaza carried out an attack that killed two soldiers, and accused Hamas of violating the agreement. Hamas said the attack happened in an area controlled by Israel. Israeli retaliatory strikes were said to kill more than 20.
In a visit to Israel today, US Vice President JD Vance said the ceasefire plan was going better than he expected but warned Hamas it would be obliterated if it did not cooperate, echoing a Trump threat earlier in the day of “fast, furious and brutal force.”
END
Gazan lawyer warns Hamas will drag Gaza ‘back into the abyss’ in Washington Post op-ed
As a long-time member of Gaza’s “underground civil society movement,” Natour explained that he has spent years preparing for the moment the “cycle of war with Israel” could be broken.
Hamas member stands guard as people gather to watch Red Cross vehicles transporting hostages, following their handover as part of a ceasefire and hostages-prisoners swap deal between Hamas and Israel, in the central Gaza Strip, October 13, 2025.(photo credit: REUTERS/Stringer TPX IMAGES OF THE DAY)ByJERUSALEM POST STAFFOCTOBER 22, 2025 11:16Updated: OCTOBER 22, 2025 14:54
Hamas regaining a foothold in Gaza will be catastrophic to both Palestinians and Israelis, Moumen al-Natour, a lawyer and activist from Gaza, wrote in an opinion piece published by the Washington Post on Tuesday.
Gaza has been split in two by US President Donald Trump’s peace deal, according to Natour. On one side of the yellow line is “a Gaza that is desperate for Trump’s plan to succeed,” he wrote, while on the other is a Gaza “pulled back into the abyss” by Hamas rule.
Few in Natour’s Gaza, where the success of the ceasefire is desired, praise Hamas, he continued.
There, he described, the “war is over and change buzzes in the air” as children return to school and people have access to food, medicine, and electricity. In Gaza, he adds, numerous local leaders are preparing to collaborate with the anticipated international force to stabilize and “make Gaza a success story.”
As a long-time member of Gaza’s “underground civil society movement,” Natour explained that he has spent years preparing for the moment the “cycle of war with Israel” could be broken, and Gaza could free itself from Hamas.
“It was worth the scars and the terror to see that there can be a different future here,” he said.
The ‘other side of the yellow line’
On the other side of the yellow line, violence and “terrifying bloodletting” are prevalent under Hamas rule, Natour continued. With no IDF soldiers to fight, hostages to torment, or “leaders capable of giving them a new identity,” Hamas has turned its rage on the Palestinians living under its thumb.
The cruelty Hamas doled out to the Israeli hostages was “honed for many years on Palestinian bodies without any of the international outrage,” he emphasized, describing a journalist friend of his whose limbs were shattered by the terror organization during the war.
“If we refuse to stand up to Hamas when it kills Palestinians and blatantly breaches the terms of the peace agreement today,” he wrote, “then we are showing Hamas that the world will stand by as it reclaims the rest of Gaza.”
Hamas regaining control of Gaza would be an international tragedy, one that would reverse all the progress made with the Gaza deal, he concluded. Hamas must be forced to abide by the terms of the ceasefire, disarm, and leave Gaza to “people who have been denied a voice for a generation, rather than leaving a vacuum for it to exploit.”
RUSSIA VS UKRAINE
ROBERT H
This runs the Ukrainian conflict?
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUES
GLOBAL ISSUES
MARK CRISPIN MILLER
CA: Yan-Kay Crystal Lowe has breast cancer; BR: footie Éverton Ribeiro has prostate cancer; UK: Alex Kingston has womb cancer, Alex Bumfrey has prostate cancer; IT: BigMama, 23, has Hodgkin’s lymphoma
NE: footie Royston Drenthe is in hospital after suffering stroke; DE: reality TV star Nicolaj Rosé, 30, goes into cardiac arrest on train platform; SL: singer/influencer David Key, 29, has cancer
| Mark Crispin MillerOct 22 |
CANADA
Hallmark’s Yan-Kay Crystal Lowe Reveals Stage 3 Breast Cancer Diagnosis in Her Own Heartfelt Words
October 10, 2025
Yan-Kay Crystal Lowe [44] has been an actor and director for nearly three decades. In a touching personal essay for PEOPLE, Lowe reveals her recent diagnosis with stage 3 breast cancer and shares intimate details of its discovery, her reactions, and how she faced her first round of chemo: “In February of 2025, while getting ready one morning, I noticed a large mass in my right breast. To be safe, I immediately went to my doctor who ordered a mammogram and guided ultrasound, but found nothing. “The breast is just one of those things,” they said casually. “It’s a mystery…” Cut to a couple of months later: The mass was still there, but it was changing in size and placement, and my confusion (and fear) kept growing. I didn’t feel any pain, but my nipple became inverted, so I went back to the doctor. The mass measured 10 centimeters. This time, my doctor wasn’t so casual; I was rushed for a blind biopsy. Three days later, my G.P. called to say I had Invasive Carcinoma in one of the ducts. When I saw my surgeon again, I was under the impression that my cancer was Stage 2 moderate, and I just wanted it out. But after a battery of more tests, it was clear that cutting before chemo wasn’t in the cards. Essentially, I’m looking at the whole deal: chemo, double mastectomy, radiation and, eventually, implants… As someone who’s never had any major illness, it was a lot to digest.”
Researcher’s Note – Yan-Kay Crystal Lowe was working in Hollywood between 2021-2023: Hollywood’s On-Set Vaccine [sic] Mandates to End on May 12, 2023: Link
News from Underground by Mark Crispin Miller is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
BRAZIL
Brazilian player Éverton Ribeiro reveals cancer diagnosis
October 7, 2025
Bahia captain Éverton Ribeiro has said he underwent surgery on Monday for thyroid cancer. The former Brazil international received the cancer diagnosis a month ago and had not spoken publicly about it until now. Ribeiro, 36, posted a photograph where he is seen standing alongside his family in front of the Christ the Redeemer statue in Rio de Janeiro, and wrote on Instagram: “About a month ago, I was diagnosed with thyroid cancer. I had surgery today and everything went well, thank God.”
Researcher’s Note – Everton Ribeiro takes covid-19 vaccine [sic]: “My day has come!”: Link
UNITED KINGDOM
Strictly’s Alex Kingston, 62, reveals secret womb cancer battle that left her ‘haemorrhaging’ on stage
October 10, 2025
Strictly Come Dancing star Alex Kingston has revealed she secretly battled uterine (womb) cancer last year. The former ER actress, 62, was diagnosed with the disease in May and subsequently underwent a hysterectomy and radiation therapy. Alex confessed that she had been experiencing symptoms for a long time but had put it down to her age – until she ‘haemorrhaged’ on stage while performing in a play last summer. The mother-of-one explained that while battling cancer took up a ‘huge part’ of her life, she now feels like ‘Superwoman’ after overcoming the disease and signing up for Strictly. Alex, who was starring in The Other Boleyn Girl at the West Sussex theatre in April and May last year, waited until her run in the play was over before seeking medical treatment and was told doctors found cancer in her fallopian tubes but it hadn’t spread to her ovaries.
Beloved Norfolk radio presenter announces cancer diagnosis live on air
October 10, 2025
A beloved Norfolk radio presenter has been diagnosed with prostate cancer. Stephen Bumfrey [65] announced his diagnosis live on Broadland Radio during his daily show. He confirmed that following the news, he will be taking a step back from his weekday shows while he undergoes surgery and treatment. However, he will continue to host his weekend shows.
NETHERLANDS
Former Real Madrid and Everton winger Royston Drenthe is in hospital after suffering a stroke
October 20, 2025
The 38-year-old ex-Netherlands international was admitted to hospital on Friday. The news was announced by FC de Rebellen, an agency which represents former footballers including Drenthe. A statement read: “Last Friday, Royston Drenthe suffered a stroke.
Drenthe is currently receiving good care and is in good hands. The team and those involved hope for a speedy recovery.” Drenthe began his professional career with Feyenoord before moving to Real Madrid in 2007, winning the La Liga title a year later. He went on loan to Everton in 2011-12 and spells at other clubs included Reading and Sheffield Wednesday. A statement from Everton on X read: “Everyone at Everton wishes Royston Drenthe a full and speedy return to full health after reports he’s been taken to hospital.”
DENMARK
Shock at Aarhus train station: Nicolaj Rosé suffers cardiac arrest and was revived on the platform in Aarhus on Friday
October 11, 2025
The “Love Island” celebrity had just gotten off work and was about to take the train from Aarhus Central Station. But suddenly everything went black. He has a cardiac arrest. “I could feel that I was getting sick on the platform. I felt a little stiff, and then I fell over,” he tells SE og HØR. Fortunately for Nicolaj Rosé, he was standing next to a doctor when his heart stopped. And that became crucial for the 30-year-old reality star. The doctor moves quickly and begins CPR immediately. He receives CPR for six to eight minutes before a defibrillator arrives at the scene of the accident. Fortunately, it only took one jolt to get his heart going again. He was then urgently sent to the hospital by ambulance, and a lot of tests were then carried out to help the doctors understand why his heart stopped.
SLOVAKIA
Bitter confession of the Slovak influencer: Doctors diagnosed me with cancer!
October 4, 2025
Slovak singer and influencer David Key, real name Radovan Kúdelka [29], is known for not taking napkins in front of his mouth. On a social network where more than 50 thousand people follow him, he has now announced a crushing news. “I was wondering if you could write it. Life has now been prepared for me by the test, doctors diagnosed me with a cancer. I’m not writing this to make you feel sorry for me. I’m not writing this to attract attention. I share it because I believe in honesty and I want to be authentic even in difficult moments,” he said.
ITALY
BigMama: “I had strange symptoms. At 23, the diagnosis was Hodgkin’s lymphoma”
October 20, 2025
She was only 23 when her body started sending signals that no one could explain. Swollen lymph nodes in her neck, chest pain, a growing discomfort. “Every time I drank alcohol, I felt pain in my neck,” she said. It seemed like nothing. Then the biopsy. Hodgkin’s lymphoma, a blood cancer. She had just begun living her dreams, building a career, taking to the stage. And instead, she found herself in a hospital, counting the chemotherapy cycles: six in all. Despite everything, she never stopped. “I never thought about death—I just wanted to get better, get back to work, and sing.” Today, at 25, she is cured. But her story remains a powerful reminder: How many young people live with symptoms that no one takes seriously? How many diagnoses arrive too late?
If you like “News from Underground” (or hate
end
n memory of those who “died suddenly” in the United States and worldwide, October 13-20, 2025
Kiss guitarist Ace Frehley; R&Bers D’Angelo (51, C), Erik Rico; bassists Anthony Jackson, Sam Rivers (48); rapper Kiiren Aamer Jackson; depression expert Nolan Williams (44, suicide); & more
| Mark Crispin MillerOct 22 |
A survey of the likely global toll of COVID “vaccination,” based on the reports collected by our worldwide team of researchers this past week.
To help support our work, consider subscribing or making a donation.
UNITED STATES (27)
Note: Due to illness, this week’s total of US entries is unusually low.
Kiss guitarist Ace Frehley dies at 74
October 16, 2025
Ace Frehley, the wild Spaceman of Kiss who played guitar in the band throughout their Seventies heyday and again during the reunion period in the Nineties, inspiring an entire generation of musicians to pick up the instrument along the way, died today in Morristown, New Jersey. He was 74. Lori Lousararian, Frehley’s rep, attributed his death to a “recent fall at his home,” though a specific cause of death was not immediately available. In late September, Frehley canceled a concert at the Antelope Valley Fair in Lancaster, California, after suffering a separate fall at his home that required a trip to the hospital. “He is fine,” read a note to fans, “but against his wishes, his doctor insists that he refrain from travel at this time.” On Saturday, Frehley pulled the remaining 2025 dates on his calendar due to unspecified “ongoing medical issues.” Gene Simmons and Paul Stanley were the primary songwriters in Kiss, but Frehley’s guitar chops and rock-star attitude were key components of the band’s success. Simmons, Stanley, Frehley, and drummer Peter Criss were inducted into the Rock & Roll Hall of Fame in 2014.
Researcher’s Note– From a reader: September 2021 SiriusXM’s “Trunk Nation, Ace Frehley: “I’ve been vaccinated [sic]. I do not wanna get this disease.” Live show (in Tampa), Ace to the crowd: “Everybody got their shots?”
D’Angelo, Grammy-Winning Icon, Dead at 51 Following Cancer Battle
October 14, 2025
Grammy-winning R&B soul singer D’Angelo is dead from pancreatic cancer, TMZ has learned. The “Brown Sugar” singer-songwriter died Tuesday morning in NYC according to sources connected to his family and his former manager Kedar Massenburg. While D’Angelo had not been public about his cancer battle, we’re told he’d been in treatment for several months. Last year, Raphael Saadiq told the “Rolling Stone Music Now” podcast D’Angelo was working on releasing a new album, saying, “He’s excited. He’s working on six pieces right now and he seems super excited.” D’Angelo was 51.
We mourn the passing of adventurous R&B singer Erik Rico
October 19, 2025
We are extremely sad to report the passing of R&B singer, songwriter and musician extraordinaire Erik Rico. We learned news of his passing from a number of his friends, although the date of death and causes of death are unclear. Raised both his in native North Carolina and New York state, Rico embraced a multi-instrumentalist foundation—guitar, bass, piano, drums, percussion—all of which became tools in his quest to fuse genres. His professional career turned a key in 1997 when he was signed by Columbia Records executive Randy Jackson, signaling the arrival of a young artist determined to navigate his own path. We had most recently covered Rico in July, when he released the fun track “Disco Funk,” which he had recorded after his move to Mexico.
No age reported.
Two bassists “died suddenly”:
Legendary bassist Anthony Jackson passes away at age 73
October 20, 2025
Legendary American bassist Anthony Jackson passed away on October 19 at the age of 73. He was an innovative player who expanded the possibilities of the electric bass and is also known as the inventor of the six-string bass, the “double bass guitar.” The news of his death was announced by Fodera Guitars, the manufacturer of his beloved instruments, and by his longtime collaborator Al Di Meola.
No cause of death reported.
RIP Sam Rivers
October 18, 2025
The horrible news broke Saturday evening (October 18th). Sad news from the Limp Bizkit camp this evening, as the band have announced the death of bassist Sam Rivers. Samuel Robert Rivers was an American musician. He was the bassist and backing vocalist of the nu metal band Limp Bizkit and one of its founding members. Wikipedia. Born: 1977, Jacksonville, FL Died: October 18, 2025 (age 48 years)
No cause of death reported.
College, Art Communities Mourn Kiiren Aamer Jackson ’24
October 15, 2025
Kiiren Aamer Jackson ’24, a rapper and music producer, died on Saturday. His death was confirmed by WKCR-FM, a New York City-based radio station. During his time at Amherst, Jackson was a Black Studies major on the pre-med track. After graduation, Jackson proceeded to join Legendary Cyphers, a hip-hop group that performs weekly in New York City, where he was honored as Rookie of the Year in 2024. Since February 2025, Jackson has worked as the assistant director of after-school at Mosholu Montefiore Community Center — the largest nonprofit provider of health, education, and employment for underserved communities in the North Bronx. He had also interned at the Albert Einstein School of Medicine during summer 2022, and worked as an undergraduate at Columbia University’s Irving Medical Center during summer 2023.
Researcher’s Note – Amherst College Orders Vaccinated [sic] Students To Be Double-Masked Indoors: Link
New York’s Covid-19 vaccine [sic] mandate for health care workers leads to suspension of hundreds of holdouts: Link
No age or cause of death reported.
A psychiatrist and expert on depression committed suicide:
Stanford Neuroscientist Dr. Nolan Williams, Pioneer of Depression Treatment, Dies at 44
October 15, 2025
Dr. Nolan Williams, a renowned Stanford University psychiatrist, has died. He was 44 years old. His wife, Kristin Raj, confirmed his passing on October 12. The initial statement did not reveal a cause of death. However, close associates have since provided clarity. According to a eulogy by colleague Dr. Owen Scott Muir, the coroner confirmed it was a suicide.
Researcher’s Note – April 5, 2023: Stanford will no longer require COVID-19 vaccination [sic] from students, faculty, staff and postdoctoral scholars. Students and staff who work in healthcare facilities will still require COVID vaccination [sic]: Link
TikTok Comedian Steve Bridges Dies at Age 41
October 17, 2025
TikTok comedian Steve Bridges has died, his wife has announced online. He was 41. In a post to Steve’s Instagram page on Oct. 17, his wife, Chelsey Bridges, took to the platform to announce the news that her husband had died “peacefully in his sleep” on Oct. 15. The pair had been married for 16 years, Chelsey shared in the video, and have three children together. Bridges was known online for comedic POV-style videos, where he would re-enact everyday scenarios that his audience of 2 million across Instagram and TikTok could relate to.
No cause of death reported.
Doug Martin, former Buccaneers All-Pro running back, dies at 36
October 20, 2025
TAMPA, Fla. – Doug Martin, a former All-Pro running back with the Tampa Bay Buccaneers, has died. He was 36. “It is with great sadness to inform you all that Doug Martin passed away Saturday morning. Cause of death is currently unconfirmed. Please respect our privacy at this time,” his family said in a statement to Fox Sports. Martin was picked 31st overall in the first round of the 2012 NFL draft after a standout career at Boise State. He rushed for 1,454 yards and 11 touchdowns as a rookie to earn a Pro Bowl berth. He had 1,402 yards rushing and six Tds in 2015 when he made the Pro Bowl and was first-team All-Pro. Martin finished his career with 5,356 yards rushing and 30 Tds in six seasons with the Buccaneers and one with the Raiders. He also had 148 catches for 1,207 yards and two scores. Martin was selected one of the top 50 players in franchise history as part of the team’s 50 year anniversary celebration.
Former Notre Dame, NFL Star Larry Williams Dies Suddenly at 62
October 16, 2025
Larry Williams, a former star offensive lineman for Notre Dame and veteran of five NFL seasons, died suddenly Thursday morning. He was 62. According to journalist John Canzano on Twitter/X, Williams experienced a fatal “heart-related incident” while working out on the campus of the University of San Francisco, where he worked as the school’s athletic director the last three years.
Researcher’s Note - USF mandated the jab for all students, and “Faculty and staff must attest to their vaccination [sic] status”: Link
Former Lewis men’s lacrosse player Baden Boyenko has died unexpectedly
October 16, 2025
Former Lewis men’s lacrosse player Baden Boyenko has died unexpectedly, the school announced Wednesday. Boyenko, 29, graduated in 2024 after compiling 84 goals and 57 assists over his three-year career. The Saskatoon, Saskatchewan, native was a pivotal piece for Lewis in its first GLVC championship run in 2024. He then scored the winning goal a week later against Maryville, giving Lewis its first-ever NCAA tournament victory. Boyenko played previously at Genesee Community College and was considered a National Lacrosse League prospect at one point before the pandemic.
No cause of death reported.
Former WWE Tag Team Champion Sir Mo Dies at 58
October 20, 2025
Professional wrestler Bobby Horne, aka “Sir Mo,” has died at 58. Horne first began wrestling in 1991 and later won the WWE Tag Team Championship in 1994. “It is with great sadness that we share the news that Bobby Horne, known to wrestling fans around the world as Sir Mo of Men on a Mission, has passed away,” the pro wrestling booking company wrote, adding that “Bobby…made his mark in the wrestling world with his infectious energy, booming personality, and unmistakable charisma.” He won several tag team championships throughout the United States and was later elected into both the New England Pro Wrestling Hall of Fame as well as the Memphis Wrestling Hall of Fame. In his later years, Horne battled a number of health issues and often shared updates about his health on social media from his hospital bed. “My colon hasn’t worked in three years,” the wrestler said in a video update from a hospital bed in late July, shortly after announcing he had “major intestinal surgery.” Earlier this month, a fundraiser set up to help Horne and his wife Denise Jones pay for his medical bills said he was in the ICU after contracting “a severe blood infection and pneumonia.” He previously had a kidney transplant in 2018 and “endured a serious case of COVID-19” in 2022 that landed him in the ICU shortly before needing a hernia surgery. Pro wrestler Ryzin, who worked with Horne in recent years at SOAR Wrestling Worldwide in Dallas, wrote on social media earlier this month that the former WWE star was “fighting for his life” amid his latest health issues.
DR PAUL ALEXANDER
Chicago-Area Judge challenge to Trump: ‘Rules ICE Agents Can Be Arrested at his Courthouses’; A Chicago-area judge has ruled that Immigration and Customs Enforcement (ICE) officers can be arrested at
Cook County courthouses if they violate his orders and arrest a migrant without a warrant. U.S. District Judge Jeffrey Cummings ordered that ICE officers are barred from arresting migrants at
| Dr. Paul AlexanderOct 21 |
courthouses if they don’t have a warrant. He also ordered that federal law enforcement can be arrested if they violate his orders.
The judge’s order aimed to prevent what are called “collateral arrests” of people whom ICE officers discover are illegal on the spot. These are migrants that ICE agents come across by happenstance while looking for someone they have a warrant to apprehend.’
Alexander News Network (ANN): Trump’s War 2.0 for America is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Developing, I am trying to get more information on this report.
‘Cummings stated that courthouses must be places where witnesses and suspects feel safe.
“The fair administration of justice requires that courts remain open and accessible, and that litigants and witnesses may appear without fear of civil arrest,” he said in his order.
Judge Cummings also cited in his ruling arrests that have been made recently outside county courthouses where ICE has taken “collateral” migrants into custody in the Chicago area.’
___
You must not wait for another catastrophic crisis (at times manufactured but we are prevented from making our own basic personal decisions or accessing needed drugs and response tools) to catch you off-guard. We must take charge and be prepared today so that we can enjoy peace of mind tomorrow.
NEWSWIZE
NEWS ADDICTS
MICHAEL EVERY/OR OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS
All That Is Gold Does Not Glitter
Wednesday, Oct 22, 2025 – 02:25 PM
By Michael Every of Rabobank
With the BoE Governor warning about pre-2008 bubble conditions in private credit; UK public-sector borrowing coming in higher than thought; Canadian CPI hotter; yet gold -6% Tuesday, its biggest sell-off since 2013, with silver -8.7%, and both -2% again this morning; and Bitcoin soaring as gold fell, then dropping in tandem, there is a lot going on. And I don’t mean GOP leaders are eyeing a new stopgap spending measure to end the government shutdown. Rather:
“ECB’s Lane flags dollar risk for banks amid tariff turmoil’ as “Eurozone banks may come under pressure if dollar funding were to dry up,” as their dollars accounted for 7 – 28% of liabilities and 10% of assets in Q2, all reliant on borrowing from US banks. Reuters notes central banks are toying with the idea of pooling their dollar reserves to backstop banks in case the Fed were to withdraw its emergency swap lines. But any such cooperation would be politically difficult and insufficient given the multi-trillion-dollar size of the international market for dollar loans. This is a point of US economic statecraft strength flagged here repeatedly: more so if the Fed is politicised.
“Bessent’s Plan Runs Short on Time to Line Up Argentina Financing’ (Bloomberg) where the market doubts he can find the second $20bn of his $40bn package from the private sector before Sunday’s key election as ‘The US Is Trying to Drive a Wedge Between Argentina and China’ (WSJ).
“China eyes 3-way currency swap with Japan and South Korea amid Trump’s tariff war’ (SCMP) as “Beijing seeks to strengthen regional financial ties and boost yuan use as US trade pressures weigh on East Asian economies”. This would be the same Japan and China rearming against threats from each other, and the South Korea focused on North Korea that is now friendly with China again? Moreover, Blomberg says Ethiopia is in talks with China to convert its dollar loans to CNY, which follows the lead set by Kenya: lower rates – and different pressure points.
Politico underlines ‘Greenland could become the biggest car crash in Atlantic relations’, as “If the US President presses ahead… others can and will follow elsewhere.” Yet what could Europe do given the situation Lane just underlined and its need for US exports, LNG, tech, and arms?
Plans for a Trump-Putin summit in Budapest have been shelved, as Trump said it would be a “waste of time’’ given Russia is clinging to territorial ambitions that make a peace deal with Ukraine impossible. So, more war, with more tit-for-tat blows to Russian and Ukrainian energy infrastructure: and elsewhere? Blasts just hit both Romanian and Hungarian oil refineries tied to Russia. This time last week I was telling clients to prepare for the fat tail risks of deliberate targeting of upstream commodity supply chains as part of a Grand Macro Strategy to strengthen one bloc over another.
Trump again said Modi agreed to ease Russian energy buys, but scepticism remains there; and that’s as India reestablished relations with the Taliban as Afghanistan fights Pakistan.
As Trump threatened Hamas again, VP Vance is “optimistic” the Gaza peace deal will hold, and said the US won’t force Israel to host foreign troops, while US Special Envoy Kushner stated Israel and Hamas are “transitioning to a peacetime posture.” Perhaps: but note the Saudi Crown Prince is expected to visit Trump at the White House on November 18, which flags something is afoot.
The UK Foreign Office dismissed as “nonsense” claims that Mauritius was in discussions with China over selling it one of the Chagos Islands for $10bn, which the UK is handing over shortly alongside a £30bn bill to retain the century lease on its critical airbases there. The FO stated foreign forces are prohibited from building bases in the archipelago as part of the treaty: and treaties are always fully complied with is obviously the UK view as the global system crumbles.
“Colombia’s president embraces war of words with Trump’ (AFP), saying “President Trump doesn’t like us being out of his control… they want a coup against me.” We still wait to see what the new, “substantial” US tariffs on Colombia will look like.
“Trump Sees Successful Xi Meeting, But Allows It Might Not Happen” (Bloomberg), again underlining 155% tariffs are going live from 1 November if he doesn’t get the deal he wants.
“How US-Australia rare earth deal aims to loosen China’s grip on critical minerals market’ (SCMP), as ‘China fires warning at Australia over ‘bloc confrontation’’ (Australian) for doing so.
The EU is to stockpile critical minerals amid supply chain threats. From whom, when they aren’t easily available right now? That’s as the ‘Dutch seek solution to stand-off with China over chipmaker Nexperia, while carmakers fret’ as ‘VW says production pauses planned, denies chip crunch as reason’ (Reuters). If chips aren’t available soon then that correlation will be obvious.
“South Korea Senior Officials to Visit US Again for Tariff Talks’ (Bloomberg) as Seoul said it wants to produce more of its own weapons – who doesn’t? And with whose rare earths?
Transcending all of the areas above, the FT reports ‘US army taps private equity groups to help fund $150bn revamp.’ On one hand: “This special military operation was brought to you by Snickersnacks.” On the other, as @michaeljmcnair notes, the Office of Strategic Capital (OSC) and International Development Finance Corp (DFC) could be mutating into a private equity-style sovereign wealth fund vehicle. Previously, OSC and DFC credit/equity investments were scored at face value, but a new accounting rule means only the net present value of the expected subsidy is charged to the federal budget so a defence deal may run:
- DFC/OSC puts in 10% equity or a thin guarantee covered by Treasury debt;
- Crowd in SWFs/PE funds for the 90% – a lot of this has been pledged already via tariff threats;
- The OBBBA lets the DFC retain and redeploy proceeds/dividends, not return them to Treasury.
In short, this would be what I call financial ‘fartcraft’ to transform the US for warcraft via fiat not gold, even if gold — and Bitcoin — may play a role in the process later. That still needs the hard physical supply side, which is where deals with Australia and threats to LatAm come in – and then all the market disruption and inflation (and deflation) that comes with it.
All that is gold does not glitter; Not all those who wander are lost
Meanwhile, the FT op-ed bewails ‘The hard task of exiting the populist trap’, flagging Argentina as a bad role model, which the US is following: fair comment, perhaps. Yet a French mega opinion poll in Le Monde notes “France’s democratic crisis is showing increasingly alarming symptoms.” Indeed, the numbers are shocking:
Of those surveyed, 96% feel dissatisfied or angry about the state of the country; 90% believe it is in decline; 81% don’t think democracy is working for them; 66% think most politicians are corrupt; 71% think their living standards are getting worse; 57% have trouble making ends meet; 85% think France ‘needs a real leader to restore order’; and 63% say they don’t ‘feel at home any more’. That sounds like FT-friendly technocratic centrism leads to populism, as was flagged way back in 2019’s ‘The Age of Rage’ – and this survey was taken before France’s crown jewels were humiliatingly stolen from the Louvre in minutes, with no official resignations in response yet.
FT chief economics commentator Martin Wolf, we are *still* waiting for your promised blueprint for a global economic system that works sustainably and inclusively for everyone: don’t keep us in suspense any longer!
7. OIL ISSUES/NATURAL GAS/ENERGY ISSUES/GLOBAL
“They’ve Cut It Way Back” – WTI Holds Gains After Trump Comments On Indian Imports, Record US Crude Production
Wednesday, Oct 22, 2025 – 10:36 AM
Oil prices are higher this morning (extending yesterday’s gains) on a report the US and India are nearing a trade deal that could see the South Asian nation gradually reduce imports of Russian crude, which would boost demand for alternative supplies.
President Trump said on Oct. 21 that Indian Prime Minister Narendra Modi has agreed to scale back India’s imports of Russian oil in response to Russia’s ongoing invasion of Ukraine.
As Aldgra Fredly reports for The Epoch Times, Trump told reporters in the Oval Office that he spoke with Modi about the matter during a phone call on Tuesday. He said that their conversation primarily focused on U.S.–India trade relations.
“We just have a good relationship, and he’s not going to buy much oil from Russia. He wants to see that war end as much as I do. He wants to see the war end with Russia–Ukraine,” he said.
“And, as you know, they’re not going to be buying too much oil. So they’ve cut it way back and they’re continuing to cut it way back.”
Modi took to social media to thank Trump for his warm Diwali greetings and the phone call, but provided no details about what was discussed during their call.
“On this festival of lights, may our two great democracies continue to illuminate the world with hope and stand united against terrorism in all its forms,” Modi stated in a post on X.
Trump said last week that he had received assurances from Modi that India would stop purchasing oil from Russia.
“That’s a big stop,” he told reporters in the Oval Office during a press conference on Oct. 15.
“Now [I’ve] got to get China to do the same thing.”
Experts at the Observer Research Foundation think tank estimate that India accounts for more than one-third of Russia’s crude exports, behind China’s 50 percent share.
Meanwhile, European Union leaders are expected to greenlight a 19th Russia sanctions package at a summit on Thursday, after Slovakia dropped its objections.
Crude inventories fell (and gasoline stocks dipped) according to a report from API overnight. Traders will now focus on the official data
API
- Crude -2.98mm
- Cushing
- Gasoline -236k
- Distillates -974k
DOE
- Crude -961k
- Cushing -770k
- Gasoline -2.147mm
- Distillates -1.479mm
Official inventory data confirmed the trend of API overnight with across the board drawdowns (though smaller than API). This is the 3rd straight week of drawdowns for products and at the Cushing hub…
Source: Bloomberg
As we detailed yesterday, the Trump administration announced plans to buy 1 million barrels of crude to add to the SPR. As the chart below shows, that’s not exactly ‘unprecedented’ as weekly additions have been around 500k barrels all year. The 819k barrel addition last week was not quite enough to offset the961k barrel decline from DOE…
Source: Bloomberg
US crude production hovered near record highs (as the rig count started to decline again)…
Source: Bloomberg
WTI is holding gains for now, back above $58.50…
Bloomberg notes that oil still remains on track for a third monthly loss as signs of a global surplus put downward pressure on prices, though that’s provided an opportunity for the Trump administration to buy crude for strategic reserves.
“Traders are beginning to question the prevailing supply-glut narrative, as movements in the Brent and WTI forward curves remain far from levels that would typically reflect such an imbalance,” according to Ole Hansen, commodities strategist at Saxo Bank AS.
The premium that front-month Brent futures command over the next month’s contract, known as the prompt spread, has narrowed over the past few months but still signals tight short-term supplies in a price structure known as backwardation. That’s also true for West Texas Intermediate crude.
END
Oil Spikes As Bessent Warns “Substantial” New Russia Sanctions Imminent
by Tyler Durden
Wednesday, Oct 22, 2025 – 03:46 PM
Update(1546ET): A couple of significant breaking headlines saw oil prices spike Wednesday afternoon, especially US Treasury Secretary Scott Bessent announcing Washington would unveil fresh sanctions against Russia, and coming only day after President Trump shelved talks with Moscow on the Ukraine war, after initial talk of a Budapest summit with Putin.
“We are going to either announce after the close this afternoon, or first thing tomorrow morning, a substantial pickup in Russia sanctions,” Bessent told reporters at the White House.
Some breaking headlines:
- US LETS UKRAINE USE SOME LONG-RANGE MISSILES IN A SHIFT: WSJ
- BESSENT: WILL ANNOUNCE RUSSIA SANCTIONS TODAY OR TOMORROW
- BESSENT: WILL ANNOUNCE SUBSTANTIAL PICKUP IN RUSSIA SANCTIONS
* * *
Just as NATO secretary general Mark Rutte is in Washington and is set to meet with President Trump Wednesday afternoon, Russia has launched another major overnight drone and missile attack which resulted in a high amount of civilian casualties.
Ukraine’s President Volodymyr Zelensky said in a post on X that the attack killed at least seven civilians, including children, and that 17 were confirmed injured. “There were fires in Zaporizhzhia and hits on homes in Kyiv. The Kyiv, Odesa, Chernihiv, Dnipro, Kirovohrad, Poltava, Vinnytsia, Zaporizhzhia, Cherkasy and Sumy regions were under attack,” he wrote.
In all at least ten regions came under attack, and air defense were active across the country, with at least one major drone intercept caught on camera (below).
Zelensky highlighted both the ongoing need for Western-supplied air defense systems, as well as piling more sanctions on Moscow to make it feel the pressure. “Russian words about diplomacy mean nothing as long as the Russian leadership doesn’t feel critical problems,” Zelensky asserted.
Also, Zelensky alleged that Russia’s assault directly struck a kindergarten in Kharkiv, and that one fatality occurred as a result. He described all children were evacuated, with many “experiencing acute stress reactions”.
Many regions across the country have been experiencing blackouts as well, after already the national electricity grid operator said it would be forced to implement an emergency program of rolling outages.
Zelensky has been arguing that Moscow has no interest whatsoever in peace: “These strikes are Russia’s spit in the face of everyone who insists on a peaceful resolution. Bandits and terrorists can only be put in their place by force.”
Russia’s military, for its part, has countered that it only targeted the “energy infrastructure of Ukraine’s military-industrial sector”. Moscow has frequently denied that it intentionally targets civilian sites and homes.
“In response to Ukraine’s terrorist attacks on civilian facilities on the territory of Russia, the Russian Armed Forces delivered a massive overnight strike by ground-based and airborne long-range precision weapons, including Kinzhal air-launched hypersonic ballistic missiles and also attack unmanned aerial vehicles, hitting energy infrastructure of Ukraine’s military-industrial sector,” a statement in TASS said.
It added, “The goals of the strike were achieved. All the designated targets were hit.” Likely Russian officials are going to deny that the military attacked a children’s school.
The military has also said Russian troops captured two settlements in the Dnepropetrovsk and Zaporozhye regions over the past 24 hours.
“Battlegroup Center units liberated the settlement of Ivanovka in the Dnepropetrovsk Region through decisive operations… Battlegroup East units kept advancing deep into the enemy’s defenses and liberated the settlement of Pavlovka in the Zaporozhye Region,” the defense ministry said in a statement.
NATO’s Rutte in Washington will likely press Trump to take a firmer stance on Russia, and the two might even privately discussing transferring US Tomahawk missiles to Kiev. Trump has signaled he’s against this for now, but the option has probably not been taken off the table just yet.
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES
VENEZUELA/USA
US Strikes 8th Alleged Drug Boat, For First Time In Pacific Waters
Wednesday, Oct 22, 2025 – 03:00 PM
In what marks another expanse of the Trump-ordered anti-Venezuela drug trafficking operation, the US military on Tuesday night attacked another suspected smuggling boat, but this time on the Pacific side of South America.
“In what is the eighth known U.S. attack on a boat since Sept. 2, two to three individuals aboard the vessel were killed,” CBS reports of the newly disclosed attack. “The other seven strikes targeted vessels in the Caribbean.”
This brings the total number of dead since the Pentagon’s intervention off Venezuela to 34 killed. But unlike all the prior attacks, the body of water where this 8th attack occurred is not directly off Venezuela and its Caribbean coast.
The new attack strongly suggests that the Pentagon may start going after boats elsewhere in waters off South America, and not just near Venezuela.
But the White House’s whole focus since these attacks started have focused on Caracas and the “rogue” Maduro “regime”. Still, the operations have clearly gone beyond this scope, as CBS also reviews:
Two men survived a U.S. strike on a suspected drug-trafficking submersible vessel in the Caribbean last week, and the U.S. repatriated the men, one from Ecuador and one from Colombia. Ecuador released the man, identified as Andrés Fernando Tufiño, after authorities said they had found no evidence that he had committed a crime.
The Colombian citizen remains hospitalized after his repatriation. Interior Minister Armando Benedetti said he “arrived with brain trauma, sedated, drugged, breathing with a ventilator.”
This raises some obvious questions: if these are “terrorists” – as the US administration has labeled them – then why so quickly return them to their home countries? And if they are not terrorists, then it raises legality and human rights issues related to what in essence are summary executions happening on the high seas, as Sen. Rand Paul has lately pointed out.
Declassified footage released of last week’s attack in the southern Caribbean…
What’s more is that the identities of most of the 34 killed thus far remain unknown and shrouded in mystery. The White House has simply wanted the public to accept its explanation of these somewhat unprecedented operations without questioning. Congress has also had no oversight, and there’s certainly been no declaration of war.
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS WEDNESDAY MORNING 6;30AM//OPENING AND CLOSING
EURO/USA: 1.1599 DOWN 0.0001 PTS OR 1 BASIS POINTS
USA/ YEN 151.65 DOWN 0.0043 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//JAPAN IN TROUBLE WITH RISING RATES
GBP/USA 1.3321 DOWN .0043 OR 43 BASIS PTS
USA/CAN DOLLAR: 1.4006 DOWN 0.0014 (CDN DOLLAR DOWN 14 BASIS PTS//CDN DOLLAR GETTING KILLED)
Last night Shanghai COMPOSITE CLOSED DOWN 15.30 PTS OR 0.33%
Hang Seng CLOSED DOWN 245.78 PTS OR 0.94%
AUSTRALIA CLOSED DOWN 0.71%
// EUROPEAN BOURSE: ALL MIXED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MIXED
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 245.78 PTS OR 0.95%
/SHANGHAI CLOSED UP 15.30 POINTS OR 0.33%
AUSTRALIA BOURSE CLOSED UP 0.71 %
(Nikkei (Japan) CLOSED DOWN 8.22 PTS OR 0.02%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 4086.00
silver:$48.42
USA dollar index early WEDNESDAY morning: 98.78 UP 7 BASIS POINTS FROM TUESDAY’s CLOSE
TUESDAY MORNING NUMBERS ENDS
And now your closing TUESDAY NUMBERS 11: 30 AM
Portuguese 10 year bond yield: 2.946% UP 1 in basis point(s) yield
JAPANESE BOND 10 yr YIELD: +1.648% DOWN 2 FULL POINTS AND 0/100 BASIS POINTS /JAPAN losing control of its yield curve/
JAPAN 30 YR: 3.117 DOWN 2 BASIS PTS//DEADLY
SPANISH 10 YR BOND YIELD: 3.093 UP 1 in basis points yield
ITALIAN 10 YR BOND YIELD 3.345 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: 2.5631 UP 1 BASIS PTS
IMPORTANT CURRENCY CLOSES : MID DAY WEDNESDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.1595 DOWN 0.0005 OR 5 basis points
USA/Japan: 151.98 UP 0.099 OR YEN IS UP 10 BASIS PTS//
Great Britain 10 YR RATE 4.4140 DOWN 7 BASIS POINTS //
GREAT BRITAIN 30 YR BOND; 5.221 DOWN 5 BASIS POINTS.
Canadian dollar UP 0.0014 OR 14 BASIS pts to 1.4006
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The USA/Yuan CNY DOWN AT 7.1266 ON SHORE ..
THE USA/YUAN OFFSHORE DOWN TO 7.1289
TURKISH LIRA: 41.98 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +1.648 DOWN 2 FULL basis pts
THE 30 YR JAPANESE BOND YIELD: 3.117 DOWN 2 basis pts
Your closing 10 yr US bond yield UP 1 in basis points from TUESDAY at 3.973% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.549 UP 0 in basis points /11:00 AM
USA 2 YR BOND YIELD: 3.463 UP 1 BASIS PTS.
GOLD AT 10;00 AM 4078.00
SILVER AT 10;00: 48.46
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: WEDNESDAY CLOSING TIME 11:00 AM//
London: CLOSED UP 88.01 PTS OR 0.93%
GERMAN DAX: DOWN 179.90 pts or 0.74%
FRANCE: CLOSED DOWN 51.99pts or 0.63%
Spain IBEX CLOSED UP 14.50 pts or 0.09%
Italian MIB: CLOSED DOWN 438/64or 1.03%
WTI Oil price 58.67 10.00 EST/
Brent Oil: 62.76 10:00 EST
USA /RUSSIAN ROUBLE /// AT: 80.81 ROUBLE UP 0 AND 86/ 100
CDN 10 YEAR RATE: 3.089 UP 1 BASIS PTS.
CDN 5 YEAR RATE: 2.644 UP 1 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1696 UP 0.0006 OR 6 BASIS POINTS//
British Pound: 1.3356 DOWN .0009 OR 9 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.4250 DOWN 6 FULL BASIS PTS//
BRITISH 30 YR BOND YIELD: 5.22880 DOWN 4 IN BASIS PTS.
JAPAN 10 YR YIELD: 1.648 DOWN 1 FULL BASIS PTS (DANGEROUS TO THEIR ECONOMY
JAPANESE 30 YR BOND: 3.117 DOWN 1 PTS AND STILL VERY DANGEROUS TO THEIR ECONOMY
USA dollar vs Japanese Yen: 151.99 UP 0.114 BASIS PTS EXTREMELY DANGEROUS/YEN FALLING IN VALUE
USA dollar vs Canadian dollar: 1.3984 DOWN 0.0036 PTS// CDN DOLLAR UP 36 BASIS PTS CDN DOLLAR FALLING OUT OF BED!
West Texas intermediate oil: 59.41
Brent OIL: 63.84
USA 10 yr bond yield DOWN 1 BASIS pts to 3.954
USA 30 yr bond yield DOWN 1/4 PTS to 4.541%
USA 2 YR BOND 3.444: DOWN 1 PTS
CDN 10 YR RATE 3.069 DOWN 1 BASIS PTS
CDN 5 YEAR RATE: 2.645 DOWN 1 BASIS PTS
USA dollar index: 98.69 DOWN 2 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 41.98GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 81.50 DOWN 0 AND 13/100 roubles //
GOLD $4,104.00(3:30 PM)
SILVER: 48.56 (3:30 PM)
DOW JONES INDUSTRIAL AVERAGE: UP 218.10 OR 0.97%
NASDAQ 100 DOWN 15.23 PTS OR 0.06%
VOLATILITY INDEX 17.62 DOWN 0.61 PTS OR 3.35%
GLD: $ 377.24 DOWN 25.91 PTS OR 6.43%
SLV/ $43.79 DOWN 3.93 PTS OR OR 8.24%
TORONTO STOCK INDEX// TSX INDEX: CLOSED DOWN 520.81 PTS OR 1.71%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING
‘Momo Meltdown Spreads To Broad Market; Bitcoin & Bullion Extend Losses
trading/raid
Momentum Massacre Drags Down Overall Market
Wednesday, Oct 22, 2025 – 10:56 AM
As we detailed last night, the market is experiencing a strong degrossing in recent narrative themes, and that is most evident in Goldman’s high-beta momentum basket which is getting slammed again this morning…
It appears that momo meltdown is finally bleeding over into the broad markets…
The outperformance from the momentum factor this year (pure factor up 7% our baskets up between 15 and 35% depending on the pair) has been driven by the long leg…
…which could be at risk of giving up more of the gains as clients protect performance going into year end…
The last six days have seen momentum longs dumped and momentum shorts bid (until today), hitting the overall momentum market with a double whammy.
The drawdown in Momentum may be at risk to continue as November through January is the worst 3 months period for Momentum…
For a tactical market hedge Goldman likes limited loss on their X7 (Top 500 Ex Mag 7) index, given hedges are outright cheaper than S&P 500 hedges.
More here from the rest of Goldman’s Sales & Trading team available to pro subs.
WRAP UP FOR THE DAY
END
USA DATA RELEASES FOR TODAY
USA ECONOMIC COMMENTARY FOR TODAY
TEXAS
USA ECONOMIC COMMENTARIES
As Auto Loan Delinquencies Soar, Repossessions On Track To Break Record
Wednesday, Oct 22, 2025 – 11:30 AM
On Friday we noted that auto loan delinquencies among low-tier consumers have surged 50% since 2010, as new vehicle prices have spiked over 25% since 2019 and 20% of borrowers forking over at least $1,000 per month for their depreciating asset (at 9% APR, no less).
And so it makes perfect sense that with over 100 million auto loans in America, the number of cars being repossessed is approaching records.
According to data from the Recovery Database Network (RDN), there have been over 7.5 million repossession assignments in the United States so far this year – meaning, authorizations given to an agency to recover a vehicle on behalf of a lender. This figure is on track to exceed 10.5 million by the end of the year. Of note, an assignment =/= a repossession, as repo men aren’t always successful.
Yet despite recovery ratios having fallen in recent years, over three million cars could be repossessed this year, a level not seen since 2009.
Paycheck to Paycheck
According to a Goldman survey published earlier this month, around 40% of Americans under the age of boomer report living paycheck to paycheck as inflation continues to erode purchasing power.
For those living primarily paycheck to paycheck, the top issue cited by 87% of those asked was “Too many monthly financial expenses” – like an auto loan. In second place is financial hardship (81%) such as home repairs, followed by credit card debt (77%).
Meanwhile, Fitch reports that 6.43 percent of subprime auto loans were at least 60 days past due in August, while Cox Automotive reported last week that the average transaction price for a new vehicle hit $50,000 last month – the highest level eva.
“Auto finance is at a breaking point, as Americans owe over $1.66 trillion in auto debt. Delinquencies, defaults, and repossessions have shot up in recent years and look alarmingly similar to trends that were apparent before the Great Recession,” wrote the Consumer Federation of America, a nonprofit advocacy group.
“Cars are more expensive than ever, due in part to economic factors, but also due to the fraught experience of buying and financing a car. Dealers and lenders have long engaged in deceptive and predatory practices that jack up prices for car buyers in order to line their pockets.”
END
MEMPHIS TENNESSEE
MEMPHIS: 4 X THE MURDER RATE OF MEXICO CITY!!!
‘Worst Of The Worst’ Illegal Immigrants Arrested In Memphis, DHS Says
Wednesday, Oct 22, 2025 – 11:10 AM
Authored by Naveen Athrappully via The Epoch Times (emphasis ours),
Immigration and Customs Enforcement officers have arrested multiple “worst of the worst criminal illegal aliens” in Memphis, Tennessee, as part of President Donald Trump’s push to crack down on violent crime and make the city safe, the Department of Homeland Security (DHS) said in an Oct. 20 statement.
Arrested individuals include alleged pedophiles, gang members, drug traffickers, domestic abusers, and rapists, according to the agency.
Among the arrested are a Honduran national who allegedly committed “the sex offense of fondling a child,” an alleged Mexican Sureno 13 gang member with convictions of assault and possession of narcotic equipment, and a Guatemalan national who allegedly committed domestic violence.
“Memphis has suffered from historic levels of violent crime including a murder rate that is four times higher than Mexico City. No American should be afraid to walk down the streets in their own neighborhoods,” DHS Assistant Secretary for Public Affairs Tricia McLaughlin said.
“In Memphis, DHS law enforcement is working hand in glove with Attorney General [Pam] Bondi to enhance public safety, fight crime, and provide much-needed support to our law enforcement partners at the local, state, and federal level. The Trump administration WILL make America safe again.”
Trump issued a presidential memorandum on Sept. 15 to establish a Memphis Safe Task Force and make National Guard personnel available to support public safety and law enforcement operations in Memphis.
“The city of Memphis, Tennessee, is suffering from tremendous levels of violent crime that have overwhelmed its local government’s ability to respond effectively,” the memorandum states.
The National Guard started patrolling in Memphis on Oct. 10.
Memphis has the highest violent crime rate among U.S. cities at 2,501 per 100,000 residents in 2024, much higher than second-ranked Detroit at 1,781 violent crimes. Memphis’ violent crime rate last year was around six times higher than the national average.
Trump’s deployment of the National Guard in Tennessee has faced opposition. On Oct. 17, a group of state officials filed a lawsuit against Tennessee Gov. Bill Lee and other officials.
Tennessee’s Constitution limits the governor’s ability to use the state’s National Guard, stating that such troops shall only be called into service in the case of rebellion or invasion, the lawsuit said.
The state’s General Assembly must declare that, by law, such deployment is necessary for public safety, it said, adding that state statutes forbid the governor from unilaterally using the military for civilian law enforcement.
“Defendants have trampled on Tennessee law by unilaterally deploying Tennessee National Guard members in Memphis as a domestic police force. On October 10, 2025, military police in fatigues descended upon Memphis, in a deployment of the Tennessee National Guard authorized by Governor Bill Lee,” state officials said in the complaint.
“Governor Lee acted at the request of President Donald Trump, but not at the request of any Memphis or Shelby County officials. He also had no approval or authorization from the Tennessee General Assembly. The deployment is patently unlawful.”
The lawsuit asked the court to issue a temporary injunction requiring the defendants to cease the deployment of National Guard personnel in Memphis for civilian law enforcement purposes.
In a Sept. 13 post on X, Memphis Mayor Paul Young said that the governor and the president have the authority to deploy the National Guard to his city.
He shared a clip from an MSNBC interview in which the host asked what the National Guard could do for his city.
“We do have issues with blight in our community, and if there is a way for them to help support our team on that front, we have a deficit of about 300 to 500 officers that we need,” Young said.
In his X post, Young added that he never asked for such a deployment and does not believe this is the path to bring down crime in Memphis.
“However, the decision has been made. As your Mayor, my commitment is to work strategically to ensure this happens in a way that truly benefits and strengthens our community,” he said in a follow-up post.
Trump and FBI Director Kash Patel said during an Oct. 15 press conference that the administration’s crime crackdown has resulted in more than 28,000 violent criminals being arrested over the past seven months.
“We’re going to go into other cities that we’re not talking about, purposely,” Trump said. “We’re going to have a surge of strong, good people, patriots, and they’re going to go in, [they’re going to] straighten it all out.”
VICTOR DAVIS HANSON
KING NEWS
| The King Report October 22, 2025 Issue 7603 | Independent View of the News |
| Precious metals got clobbered on Tuesday. ‘They’ finally took action to halt gold. Long-time gold traders/investors know exactly what we are saying. For decades, when gold got going to the upside with Big Mo, inevitably gold got smacked down. The assault on AU began on the 3 ET European opening. The fact that ‘they’ did not intervene much earlier indicates that ‘they’ recognized that the gold rally was different this time. Spot gold sank to 4082.03 at 10:43 ET, -6.7% from its all-time high of 4375.38 at 18:24 ET on Monday. Trump: I Have Great Relationship with Xi (Why keep saying this?) – BBG 12:51 ET Trump: I Want Xi to Have a Good Deal for China – BBG 12:51 ET Trump: I Expect to Make a Good Deal with Xi – BBG 12:51 ET Trump: We Built China’s Military with All the Money We Lost (true!) – BBG 12:52 ET Trump: Maybe my meeting with Xi won’t happen anymore, that would be okay – BBG 12:52 ET Trump: Schumer, Radical Left Holding Government Hostage – BBG 12:52 ET Trump-Putin summit planned for Budapest is on hold after call between Rubio and Lavrov, US official says – AP 12:44 ET Axios: In a shift, White House says no plan for Trump-Putin summit – 12:48 ET Russia Effectively Rejected Trump Ukraine Plan on Weekend – BBG 12:59 ET @AFP: Trump pressured Ukraine to give up Donbas region: senior Kyiv official to AFP ESZs opened modestly higher on Monday night but created a double top at 6784.75 (21:19 ET) and at 22:29 ET (6785.00). ESZs plodded to a low of 676.25 at 4:19 ET. ESZs then tripled topped (6777.75) at 8 ET, 8:14 ET, and 8:24 ET. ESZs sank to 6759.25 at 6759.25 at 10:02 ET. The programed buying on expected retail buying at 10:00 ET appeared. ESZs staged a volatile 5-wave rally, with steep 2nd and 4th wave drops that created a daily high of 6789.75 at 12:43 ET. ESZs then sank to 6767.25 at 13:01 ET. The afternoon rally took ESZs to 6784.25 at 14:321 ET. After a retreat to 6776.50 at 15:05 ET, ESZs plodded to t6784.00 at 15:54 ET but fell to 6771.50 at 16:00 ET. @kurtsaltrichter: Credit card delinquencies just hit their highest level since 2010. Total credit card debt is now over $1.2T, and more than 12% of accounts are 90+ days delinquent. Those with assets will be fine. Those with debt are getting crushed. The wealth gap isn’t closing, it’s accelerating. https://x.com/kurtsaltrichter/status/1980656832713507116 WSJ’s @ajsaeedy: The U.S. is currently finalizing a $40 billion bailout of Argentina, including a $20bn loan to be provided by a number of big banks. But they’re struggling to put together a deal that protects them from the bad credit of the virtually-bankrupt South American country… @OliLondonTV: Japan’s new Prime Minister Sanae Takaichi: Ultra Conservative • Nationalist • Compared to Margaret Thatcher • Hardline stance on immigration & national security • Critical of China • Believes marriage is between a man and woman • Played in Heavy Metal band Chip crunch: how the AI boom is stoking prices of less trendy memory Spot prices of DRAM, used in various applications, nearly tripled in September from a year earlier, after growing a meager 4% in April, according to data from TechInsights provided to Reuters. The average inventory of DRAM chips fell to just eight weeks in the current quarter, from 10 weeks a year earlier and 31 weeks in early 2023… https://finance.yahoo.com/news/analysis-chip-crunch-ai-boom-230038682.html Positive aspects of previous session The DJIA and DJTA rallied smartly. USZs were +14/32 at the NYSE close. Precious metals were hammered. Negative aspects of previous session Fangs rallied only modestly. Ambiguous aspects of previous session Reversal in precious metals or much needed correction? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Down Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 6736.51 Previous session S&P 500 Index High/Low: 6752.16; 6720.03 GOP @SenMullin: Dems wrote Obamacare. They passed Obamacare without a single GOP vote. They created the Obamacare COVID credits without a single GOP vote, and they extended those credits AND chose a 2025 expiration date with no GOP votes. If Dems want to discuss their Obamacare failures, we welcome the conversation… after they end the Schumer Shutdown. After the close, Netflix reported EPS of 5.87, 6.97 expected. Operating income of $3.24B was $400 million less than expected. Revenue was the expected $11.51B. NFLX blames a tax dispute with Brazil for the shortfall. Netflix sees Q4 EPS of 5.45, 5.42 expected; and sales of $11.96B, $11.9B expected. NFLX sank as much as 7%. Today – The late ESZs decline might have been due to inside info about Netflix’s EPS shortfall. Traders will keep playing for the earnings season rally, particularly in Fangs, and the possibility of a TACO Tuesday Rally. Like night following day, Trump does TACOs after tough guying China. ESZs are -4.75; NQZs are -54.50; Dec AU is -85.20; and USZs are -2/32 at 20:12 ET. Expected impact earnings: HLT 2.06, T 0.54, LUV -0.03, TSLA .53, PKG 2.82, ORLY .83, IBM 2.41 The Fed is in a blackout for the FOMC Meeting on October 29. S&P Index 50-day MA: 6578; 100-day MA: 6383; 150-day MA: 6122; 200-day MA: 6075 DJIA 50-day MA: 45,835; 100-day MA: 44,763; 150-day MA: 43,533; 200-day MA: 43,513 (Green is positive slope; Red is negative slope) S&P 500 Index (6735.35 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 5643.15 triggers a sell signal Weekly: Trender and MACD are positive – a close below 6445.33 triggers a sell signal Daily: Trender and MACD are negative – a close above 6834.79 triggers a buy signal Hourly: Trender and MACD are positive – a close below 6692.52 triggers a sell signal Ohio Judge Could Face Further Consequences Over Charlie Kirk Comments https://www.dailysignal.com/2025/10/20/ohio-judge-could-face-further-consequences-over-charlie-kirk-comments/ For eons, ‘liberal privilege’ protected the left from the consequences of their inappropriate actions and hateful rhetoric. Now, they are facing the standards that they applied to others. This Is Why Democrats Are Doomed… Sports commentator Clay Travis, appearing on Fox News with Jesse Watters, delivered a scathing 40-second assessment of the Democrats’ downfall during coverage of a “No Kings” rally in Boston. Travis’s remarks highlight a broader sentiment: the party has lost touch with mainstream America, particularly younger generations, and risks becoming a relic of the past… The Democrats’ emphasis on identity politics, elite-driven policies, and performative activism has alienated working-class voters and independents. As social media amplifies these moments, the viral clips of cringeworthy protests, the party’s image suffers further. With Trump back in the White House, Republicans are capitalizing on this momentum, portraying themselves as the party of strength, freedom, and fun. https://modernity.news/2025/10/21/this-is-why-democrats-are-doomed/ @libsoftiktok: Democrat (Titular House Leader) Hakeem Jeffries warns “extremists” that they “better watch how you talk, when you talk about me.” Sounds like a threat. https://x.com/libsoftiktok/status/1980763843640062248 | |
SWAMP STORIES FOR YOU TONIGHT
Senate GOP Mull Filibuster Reform To End Shutdown
Wednesday, Oct 22, 2025 – 10:45 AM
As Democrats continue to dig in their heels over Obamacare, Senate Republicans are now considering changing the filibuster’s rules to end the shutdown.
“Nobody talked about filibuster two weeks ago. Now that we see that the Democrats are just not going to agree to anything, then that’s probably a viable option,” Sen. Tommy Tuberville (R-AL) told The Hill. “I don’t know the answer to this. I don’t think anybody does because they’re not going to give; we’re not going to give. So it’s going to be a stalemate, and the loser is going to be the American people.”
Tuberville notably defended keeping the filibuster after Republicans won control of the Senate in last year’s election, while other GOP senators are predicting that President Trump will start pressuring Senate Majority Leader John Thune (R-SD) to change the Senate rules if the shutdown continues into next month – a move Thune has explicitly said he opposes.
“I think the pressure from the White House will become pretty enormous,” one GOP senator told the outlet. “We’re reaching a point here where the SNAP benefits start going down, the military – pretty soon [the president] isn’t going to have enough money to pay them. We’re going to reach a point where people are literally not able to buy food,” the senator continued, referring to Supplemental Nutrition Assistance Program (SNAP) winding down, along with the military eventually going without pay.
“We’re going to reach a point where people are literally not able to buy food,” the senator continued, adding “There’s going to come a breaking point. Filibuster reform means all kinds of different things. It could be a talking filibuster.”
“The longer this goes on and the more intransigent the Democrats are, I think they’re inviting a conversation about, ‘Are there steps we can take here?“
“If this goes past Nov. 1, I think the mood is really going to turn in the country in a big way,” they continued.
According to Sen. Ron Johnson (R-WI), Republicans want to preserve the 60-vote threshold for passing legislation, but admitted they were looking into the “possibility” of a carve-out to end the shutdown.
“It’s something Republicans don’t want to do,” he said.
That said, “There’s a certain comity here, there’s a way of getting along. That’s just been busted by the Democrats, time and time again,” Johnson argued – accusing Democrats of trying to undermine Trump.
Thune, as noted, is opposed to weakening or eliminating the filibuster – something he vowed to maintain when he ran against Sens. John Cornyn (R-TX) and Rick Scott (R-FL) for majority leader in November – telling reporters that getting rid of the rule to end the shutdown would be a “bad idea.”
Sen. Susan Collins (R-ME) said she’s opposed to changing the rule, but will review any plan to reopen the government even if it includes reforms.
Asked about this ‘nuclear option,’ Collins replied: “I know that that is being discussed,” adding “I am a strong supporter of the filibuster, but obviously I’ll look at any plan that anyone puts out in order to reopen government.”
Sen. Josh Hawley (R-O) said all “options” need to be on the table if the shutdown drags on for weeks longer.
He noted Senate Republicans changed the Senate rules to confirm lower-level executive branch nominees en bloc after Democrats slow-walked more than 140 of Trump’s nominees, refusing to confirm a single civilian nominee by voice vote or unanimous consent to save time.
“I’d just say to the Democrats, ‘Listen, you saw what happened when we had to change the nominations rule to overcome their unprecedented obstruction,’” he said.
“At a certain point, the pain becomes so severe on working people that all options may be on the table,” he warned. “At a certain point, people have to be able to go to the VA and get health care. They have to. People have to be able to get their food stamp benefits. They won’t be able to live.” -The Hill
Meanwhile, the Senate is slated to vote today on the House-passed funding bill. The vote is likely to fail (again), while House Speaker Mike Johnson (R-LA) and Minority Leader Hakeem Jeffries (D-NY) will once again each host pressers to call each other unreasonable.
END
EBT Serfs Threaten Violent Mass-Shoplifting Spree if Food Stamps Cut
by Armageddon Prose
Wednesday, Oct 22, 2025 – 10:09
Originally published via Armageddon Prose:
The EBT serfs of the underclass may be in for a rough ride come November, when mommy government is slated to wean them off the teat of state.
Via CNN (emphasis added):
“Roughly 42 million people are at risk of losing critical food assistance in November amid the federal government shutdown. And it’s not clear whether the Trump administration will step in to find the funds to continue paying benefits, as it has with other priorities.
The food stamp program will run out of money in two weeks, Agriculture Secretary Brooke Rollins told reporters at the White House on Thursday.
“So you’re talking about millions and millions of vulnerable families, of hungry families that are not going to have access to these programs because of this shutdown,” she said.
Like other members of the Trump administration, Rollins cast blame on the Democrats, posting on X Thursday that they are putting “their political agenda ahead of food security for American families.”…
Rollins’ comments came a week after the US Department of Agriculture told states that there is not enough money to pay full food stamp benefits in November if the lapse in federal funding continues. The agency asked states to hold off on November payments until further notice.”
Related: Study: Majority of EBT-Eligible Food Products Are Ultra-Processed
Of course, the Democrats currently holding the funding hostage could easily just re-open the government, but they won’t because if they can get all of their plantation slaves riled up with the welfare cuts, ready to commit violence in furtherance of the current state of anarcho-tyranny, they view this not as a problem to be solved but as a political opportunity.
Contrary to a lot of Ayn Rand-esque libertarians, I don’t actually believe that a just society should follow the “let them eat cake” governing philosophy, allowing psychopathic demons like Bill Gates to accrue billions of dollars for himself as a reward for engineering and getting the government to mandate deadly experimental medical products while the middle class is hollowed out, corporations are allowed to offshore the industry that actually made America great in a race to the bottom, and the rabble is left to starve — if not for moral reasons, then at least practical ones, as this kind of growing chasm in wealth is not sustainable.
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But the odious EBT serfs aren’t doing their cause any favors in the realm of public opinion.
As one might expect, rather than re-evaluating the wisdom of their well-conditioned, post-Great Society dependence on government largesse to survive, they’re instead threatening to simply steal whatever they would’ve gotten through food stamps because something, something muh civil rights.
Related: John Bolton Vows to Resurrect USAID Post-Trump
As long as the bottom line is “hand me my slop, whitey,” the logic train to the conclusion doesn’t really matter to them.
There are literally hundreds, probably thousands, of these videos on social media — planning free Thanksgiving dinners with stolen food, claiming the taxpayers “work for them” in order to provide them EBT cash, and threatening workers’ lives at Walmart or wherever who might try to stop them.
VIDEO
VIDEO
VIDEO
Related: Denver Councilwoman Floats Whites-Only Business Tax
Let’s feign performative shock at the statistic, per National Academies Press, that 23.3% of American blacks receive food assistance, juxtaposed with a mere 2.7% of whites on food stamps — a ten-fold racial disparity. (Including free housing and Medicaid, greater than 50% of all African-Americans are the recipients of federal welfare schemes.)
Is American society ten times more racist against blacks than whites? Are blacks ten times more economically disadvantaged than whites in the United States in 2025?
Or is there a cultural element at play?
Benjamin Bartee, author of Broken English Teacher: Notes From Exile (now available in paperback), is an independent Bangkok-based American journalist with opposable thumbs.
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END
GREG HUNTER INTERVIEWING STEVE QUAYLE
Convulsonomics – Steve Quayle
By Greg Hunter On October 22, 2025 In Market Analysis, Political AnalysisNo Comments
By Greg Hunter’s USAWatchdog.com
Renowned radio host, filmmaker, book author and archeological dig expert Steve Quayle is back with a global economic warning. So many things are going haywire, it appears the world is going into economic convulsions. Quayle has coined the term “Convulsonomics” to describe what we are facing. Let’s start with the exploding record high gold and silver prices that have just sold off dramatically. Quayle, who has sold precious metals for four decades, is not worried and explains, “This is one of the most extreme movements in gold and silver. I want people to understand something; it is normal for a pullback when a market has gotten so hot. Gold is down $230 an ounce, but people forget it went up $100 every other day for over a week. Silver is the same, and silver is in extreme short supply. . .. The London Bullion Metals Exchange is delivering to people who want physical delivery, who have bought silver on paper and now they want the real metal. . .. This is going to be the biggest silver short squeeze in the world. Weeks ago, I said I would not be surprised if we see $100 to $200 down moves in gold and $200 and $300 moves up. It’s going to be slingshoting up and down or a yo-yo effect. . .. The media does not tell you the truth about gold. They just say this was the greatest sell-off in history.”
Quayle goes on to say, “There are huge events coming to this country. I think we are going to see full scale civil war. I am transitioning here and saying we know the dollar is dying on purpose. We know digital currencies are being promoted and they are a cage, and once you get into it, you will never get out of it. I am with Catherine Austin Fitts on this. It’s an endgame that will force you into a digital prison. . .. It’s a freedom ending plan for the world.”
Quayle says credit will, at some point, get cut off for people spending too much. Quayle also warns of coming bank bail-ins where depositors’ money is used to bail out the banks. There are lots of things coming to an end. Quayle says, “We are watching the end of NATO. We are watching the end of the EU. We are looking at the time of paper currency failure. We are looking at commodities backing whatever units of trade. The true purpose of geoengineering is they are killing the soil. They are killing the water. They are killing the growing season by all of the aerosolization in the upper atmosphere. Add into that the vulcanization, the volcanos going off and the dust going up in the atmosphere and the stratosphere. We are seeing global dimming, which is done by global dimwits. It’s the perfect storm.”
On the political side, Quayle points out a nasty side to the government shutdown, and it has to do with food for more than 40 million people who depend on government assistance to feed themselves. Quayle says, “We are 10 days away from the cut off of the SNAP program and Electronic Benefit Transfers, EBT. That all ends on Halloween. That is not a costume you shed. There are 42 million SNAP beneficiaries. What happens when this stops? The Democrats are holding up the budget, but I think it goes much deeper. I think the Deep State wants total famine and upheaval. . .. This is going to be so volatile. The word I coined decades ago is Convulsonomics. When they shut this down, it’s going to be totally Mad Max urban style. . .. It will be dangerous. . .. Please rush to prepare. You have 10 days. Prepare as if your life depends on it because it does.”
In closing, Quayle says, “There is no political solution to a spiritual problem.”
There is much more in the 61-minute interview.
There is an 8-minute video to explain how easy it is to ride out any terror attack or extreme storm. You can get more information on Starlink at Starlink123.com and Sat Phones at Sat123.com and BeReady123.com. You can also call 855-980-5830 and talk to a real human. Same goes for EscapeZone.com. where you can get Faraday bags big and small. You can also talk to a real human at EscapeZone.com by calling 702-825-0005.
Join Greg Hunter of USAWatchdog.com as he goes one-on-one with Steve Quayle warning you to prepare for violent financial and society meltdowns coming for 10.21.25.
After the Interview
:https://usawatchdog.com/convulsonomics-steve-quayle/
You can get more information at Sat123.com, BeReady123.com and Starlink123.com. You can also call 855-980-5830.
Go to EscapeZone.com for Faraday bags both very big and very small or call 702-825-0005 and talk to a real human.
Click here for “Cascadia is the Big One.”
SEE YOU TOMORROW
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