DEC 24/GOLD CLOSED UP $2.15 TO $4480.55 WITH SILVER ALSO GAINING A STRONG 95 CENTS TO $71.95//PLATINUM CLOSED DOWN $7.05 TO $2249.95 AND PALLADIUM CLOSED DOWN A HUGE $145.15 TO $1727.55//ALL METALS CLOSED IN A VERY ILLIQUID MARKET//GOLD COMMENTARY TONIGHT FROM JOHN RUBINO AND A GOOD SILVER COMMENTARY FROM ARTIFICIAL INTELLIGENCE//ITALY SLAPS APPLE WITH A $116 MILLION FINE//ISRAEL VS HAMAS UPDATES/ISRAEL TBN LAST 24 HRS//TORONTO IS BECOMING THE UK AS THE AUTHORITIES LET GO A KIDNAPPER AND TERRORIST//RUSSIA VS UKRAINE UPDATES/COVID INJURY REPORT UPDATE: MARK CRISPIN MILLER//VENEZUELA UPDATES//TRUMP TO GO AFTER DELINQUENT STUDENT LOANS//TRUMP WILL BE GIVEN GREEN LIGHT UNDER THE INSURRECTION ACT//SWAMP STORIES FOR YOU TONIGHT//
099 H DEUTSCHE BANK AG 19 132 C SG AMERICAS 7 190 H BMO CAPITAL MARKETS 196 323 C HSBC 14 363 H WELLS FARGO SECURITI 28 661 C JP MORGAN SECURITIES 258 174 690 C ABN AMRO CLR USA LLC 4 726 C PLUS500US FINANCIAL 1 905 C ADM 133
TOTAL: 417 417 MONTH TO DATE: 36,498
JPMORGAN STOPPED 249/781
DECEMBER
GOLD: NUMBER OF NOTICES FILED FOR DEC/2025: 417 CONTRACTs NOTICES FOR 41,700 OZ or 1.2970 TONNES
total notices so far: 36,498 contracts for 3,649,800 OR 113.524 tonnes)
FOR DEC
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SILVER NOTICES:113 NOTICE(S) FILED FOR 0.565 MILLION OZ/
total number of notices filed so far this month : 12,688 CONTRACTS (NOTICES) for 63.440 million oz
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END
GLD/
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD UP $2.15 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD
NO CHANGES IN GOLD INVENTORY AT THE GLD:
INVENTORY RESTS AT 1064.66 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER UP $0.95 AT THE SLV:
HUGE CHANGES IN SILVER INVENTORY AT THE SLV:/ // A WITHDRAWAL OF 3.083 MILLION OZ FROM THE SLV MILLION OZ
CLOSING INVENTORY RESTS AT:
CLOSING INVENTORY: 530.595. MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A HUGE SIZED 1984 CONTRACTS TO 155,710 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR HUGE $2.40 GAIN IN SILVER PRICING AT THE COMEX WITH RESPECT TO TUESDAY’S // TRADING. THE LONG SPECULATORS ARE STILL QUITE RELENTLESS AS THEY POUR INTO THE OPEN INTEREST AT THE COMEX AS YOU WILL WITNESS WITH TODAY’S TRADING. THE FRBNY CONTINUES TO SUPPLY THE NECESSARY PAPER AS THEY TRY TO DRIVE THE PRICE SOUTHBOUND WITH THE HELP OF HIGH FREQUENCY TRADERS , T.A.S. SPREADERS AND MONTH END SPREADERS BUT WITH NO SUCCESS ON TUESDAY WITH SILVER’S HUGE GAIN IN PRICE. EARLY LAST WEEK WE RECEIVED NOTICE OF OUR FIRST HUGE 170 CONTRACT EXCHANGE FOR RISK AND THEN THE NEXT DAY WE RECEIVED NOTICE OF A SECOND EXCHANGE FOR RISK OF 97 CONTRACTS FOR .485 MILLION OZ AND THEN FINALLY TODAY WITH OUR 3RD ISSUANCE FOR 1.0 MILLION OZ// AND NOW I HAVE A LITTLE DOUBT OF THE RECIPIENT OF THIS ISSUANCE. THE CENTRAL BANK OF INDIA IS THE LOGICAL CHOICE BUT COULD IT BE THE CENTRAL BANK OF CHINA? THE TOTAL IN OZ FOR THIS EXCHANGE FOR RISK ON THREE OCCASIONS IS 2.335 MILLION OZ AND THIS WILL BE ADDED TO OUR NORMAL DELIVERY SCHEDULE TO GIVE US THE EXACT AMOUNT OF SILVER STANDING FOR DECEMBER.
WE HAVE REVERTED BACK TO NORMAL WITH THE SPECS NOW GOING ON THE LONG SIDE AND THE BANKER (FRBNY) ON THE SHORT SIDE AND PROVIDING THE NECESSARY SHORT PAPER. IT IS OUR SILVER SPECULATORS THAT WERE PILING INTO THE SILVER COMEX. WE FINALLY ARE MOVING TO A MUCH HIGHER BASE SURPASSING THE $34.40 SILVER PRICE BARRIER TO A HIGH DEGREE, AND NOW SURPASSING SURPASS OUR LAST MAJOR HURDLE OF $50.00 SILVER AGAIN. WE HAVE A FAIR SIZED GAIN OF 383 TOTAL CONTRACTS ON OUR TWO EXCHANGES AS THE CME NOTIFIED US OF A SMALL SIZED 135 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE.. WE HAD ZERO LIQUIDATION OF T.A.S. CONTRACTS IN COMEX TRADING AND MINOR IF ANY MONTH END SPREADERS WITH RESPECT TO TUESDAY TRADING WITH OUR HUGE GAIN IN PRICE /// THEY DESPERATELY AGAIN TODAY TRIED TO CONTAIN SILVER’S PRICE RISE FOR THE PAST SEVERAL WEEKS (WHERE RAIDS ARE CALLED UPON AGAIN AND AGAIN TRYING TO STOP THE RISE IN SILVER’S PRICE TO ABOVE $50.00 AND TO QUELL ADDITIONAL DERIVATIVE LOSSES TO OUR BANKERS’ MASSIVE TOTALS). THEY FAILED ON TUESDAY WITH SILVER’S GAIN IN PRICE AS THE SPECS PILED INTO THE SILVER ARENA. . THE PRICE FINISHED HUGELY ABOVE THE MAGIC NUMBER OF $50.00 SILVER SPOT PRICE CLOSING AT $71.00 UP $2.40 . WE ARE NOW WITNESSING HAVING MANY HUGE T.A.S ISSUANCES // TODAY’S WAS AT A HUGE SIZED 788 T.A.S. CONTRACTS (BUT STILL DOWN FROM THE MEGA MEGA HUGE SIZED 5,000 PLUS CONTRACT ISSUANCE DURING NOVEMBER)!!. THE CROOKS ARE BECOMING MORE DESPERATE TO STOP SILVER BREAKING AGAIN THE 50.00 DOLLAR MARK!!. THERE IS NO NEXT LINE IN THE SAND ONCE THE 50.00 DOLLAR SILVER IS PIERCED AGAIN. WE HAD A SMALL SIZED 135 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR HUGE SIZED 788 CONTRACT T.A.S ISSUANCE WHICH WILL BE USED IN FUTURE TRADING//RAID AS THEY PLAY AN INTEGRAL PART IN OUR COMEX TRADING TRYING TO CONTAIN ANY SILVER PRICE RISE. IN ESSENCE WE HAD A HUGE SIZED LOSS OF 949 CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR HUGE GAIN IN PRICE OF $2.40. WE HAD HUGE GOVERNMENT (FRBY) COMEX CONTRACTS TRADING ALL WEEK AND A MAJOR PORTION AND NO DOUBT REMOVED BY DAYS END. (I RECORD THIS FOR YOU ON A DAILY BASIS). THE SPECULATOR LONGS REMAIN STOIC EVEN ON PRICE FALLS. EASTERN CENTRAL BANKER WENT TO THE LONG SIDE. THEY WILL TENDER FOR THE BADLY NEEDED PHYSICAL SILVER. THUS ON A NET BASIS WE LOST NO SPECULATORS
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON TUESDAY NIGHT//WEDNESDAY MORNING: A HUGE SIZED 788 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED FRBNY BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT NOW SEEMS THAT THE OCC HAS NOW ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1.1 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES.
THUS:
INITIAL STANDING FOR DEC: 49.33 MILLION OZ FOLLOWED BY TODAY’S 90,000 OZ E.F.P. TRANSFER TO LONDON _ PLUS ..850 MILLION OZ EXCHANGE FOR RISK LAST MONDAY THEN LAST TUESDAY’S .485 MILLION OZ/ AND THEN TODAY/S 1.0 MILLION OZ EXCHANGE FOR RISK ( NEW TOTAL EX. FOR RISK = 2.335 MILLION OZ)///STANDING ADVANCES TO 65.865 MILLION OZ//
WE HAD:
/ HUGE SIZED COMEX OI LOSS+// A SMALL SIZED 135 EFP ISSUANCE CONTRACTS (/ VI) A HUGE NUMBER OF T.A.S. CONTRACT ISSUANCE 788 CONTRACTS)/VII: DECEMBER ISSUED ITS FIRST EXCHANGE FOR RISK OF 0.850 MILLION OZ LAST WEEK AND ANOTHER ONE THE NEXT DAY WAS ISSUED FOR 97 CONTRACTS OR .485 MILLION OZ!! AND THEN WE WERE NOTIFIED OF A THIRD ISSUANCE EX FOR RISK FOR 1.0 MILLION OZ//TOTAL EXCHANGE FOR RISK DEC: 2.335 MILLION OZ
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED A HUGE 1329 SILVER CONTRACTS!!!!! AND THIS IS A RECORD REMOVAL!!
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS DEC.. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF DEC.
TOTAL CONTRACTS for 19 DAY(S), total 7527 contracts: OR 37.635 MILLION OZ (396 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 37.635 MILLION OZ
LAST 24 MONTHS TOTAL EFP CONTRACTS ISSUED IN MILLIONS OF OZ:
MAY 137.83 MILLION
JUNE 149.91 MILLION OZ
JULY 129.445 MILLION OZ
AUGUST: MILLION OZ 140.120
SEPT. 28.230 MILLION OZ//
OCT: 94.595 MILLION OZ
NOV: 131.925 MILLION OZ
DEC: 100.615 MILLION OZ
YEAR 2022:
JAN 2022-DEC 2022
JAN 2022// 90.460 MILLION OZ
FEB 2022: 72.39 MILLION OZ//
MARCH 2022: 207.140 MILLION OZ//A NEW RECORD FOR EFP ISSUANCE
APRIL: 114.52 MILLION OZ FINAL//LOW ISSUANCE
MAY: 105.635 MILLION OZ//
JUNE: 94.470 MILLION OZ
JULY : 87.110 MILLION OZ
AUGUST: 65.025 MILLION OZ
SEPT. 74.025 MILLION OZ///FINAL
OCT. 29.017 MILLION OZ FINAL
NOV: 134.290 MILLION OZ//FINAL
DEC, 61.395 MILLION OZ FINAL
TOTALS YR 2022: 1135.767 MILLION OZ (1.1356 BILLION OZ)
JAN 2023/// 53.070 MILLION OZ //FINAL
FEB: 2023: 100.105 MILLION OZ/FINAL//MUCH STRONGER ISSUANCE VS THE LATTER TWO MONTHS.
MARCH 2023: 112.58 MILLION OZ//FINAL//STRONG ISSUANCE
APRIL 111.035 MILLION OZ(SLIGHTLY GREATER THAN THAN LAST MONTH)
MAY 66.120 MILLION OZ/INITIAL (MUCH SMALLER THIS MONTH)
JUNE: 110.395 MILLION OZ//MUCH LARGER THAN LAST MONTH
JULY 85.745 MILLION OZ (SMALLER THAN LAST MONTH)
AUGUST: 171.43 MILLION OZ (THIS MONTH IS GOING TO BE HUGE //2ND HIGHEST ON RECORD
SEPT: 72.705 MILLION OZ (SMALLER THIS MONTH)
OCT: 97.455 MILLION OZ
NOV. 50.050 MILLION OZ
DEC. 66.140 MILLION OZ//
TOTAL 2023: 1,104.10 MILLION OZ/
JAN ’24 : 78.655 MILLION OZ//
FEB /2024 : 66.135 MILLION OZ./FINAL
MARCH: 143.750 MILLION OZ// 4TH HIGHEST ON RECORD.
APRIL: 161.770 MILLION OZ (THIS MONTH WILL BE A WHOPPER OF ISSUANCE OF EFPS//3RD HIGHEST EVER RECORDED FOR A MONTH)
MAY: 135.995 MILLION OZ //WILL BE A STRONG MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE
JUNE 110.575 MILLION OZ ( WILL BE ANOTHER STRONG MONTH ISSUANCE)
JULY: 108.870 MILLION OZ (WILL BE A STRONG ISSUANCE MONTH/ A TOUCH OVER 100 MILLION OZ/)
AUGUST; 99.740 MILLION OZ//THIS MONTH WILL BE STRONG FOR ISSUANCE BUT LESS THAN JULY.
SEPT: 112.415 MILLION OZ//WILL BE A HUGE MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE
OCT; 97.485 MILLION OZ (WILL BE SMALLER ISSUANCE THIS MONTH )
NOV. 115.970 MILLION OZ ( HUGE THIS MONTH)
DEC: 132.54 MILLION OZ (THIS MONTH WILL BE A HUMDINGER FOR ISSUANCE BUT ISSUANCE SLOWED DRAMATICALLY THESE PAST FIVE DAYS/// WILL NOT EXCEED MARCH 2022 RECORD OF 209 MILLION OZ
YEAR 2024 TOTAL: 1363.84 MILLION OR 1.363 BILLION OZ
JANUARY 2025: 67.230 MILLION OZ///(THIS MONTH’S ISSUANCE OF EXCHANGE FOR PHYSICAL WILL BE SMALL)
FEB. 58.260 MILLION OZ//EXCHANGE FOR PHYSICAL ISSUANCE/FINAL
MARCH: 67.020 MILLION OZ///QUITE SMALL AND BECOMING SMALLER EACH AND EVERY MONTH.
APRIL: 100.895 MILLION OZ///AVERAGE SIZE ISSUANCE
MAY: 28.975 MILLION OZ (ISSUANCE WILL BE QUITE SMALL THIS MONTH)
JUNE: 81.065 MILLION OZ
JULY: 50.925 MILLION OZ (QUITE SMALL)
AUGUST: 59.455 MILLION OZ (QUITE SMALL)
SEPT. 50.510 MILLION OZ.(QUITE SMALL)
OCT; 82.020 MILLION OZ (WILL BE STRONG THIS MONTH)/ OCC WANTS TO REIN IN THESE ISSUANCES!
NOVEMBER: 36.425 MILLION OZ
DEC: 37.635 MILLION OZ
RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1084 CONTRACTS DESPITE OUR HUGE GAIN IN PRICE OF $2.40 IN SILVER PRICING AT THE COMEX// TUESDAY.,. THE CME NOTIFIED US THAT WE HAD A TINY SIZED CONTRACT EFP ISSUANCE : 135 ISSUED FOR MARCH, AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS.
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LAST 9 MONTHS OF SILVER DELIVERIES:
WE FINISHED APRIL WITH A STRONG SILVER OZ STANDING OF 16.050 MILLION OZ NORMAL DELIVERY , PLUS OUR 4.00 MILLION EX FOR RISK
FINAL STANDING APRIL: 19.965 MILLION OZ
AND MAY:
NEW STANDING FOR MAY FINISHES AT: 75.615 MILLION OZ. (INCLUDES 5,000 OZ EFP TRANSFER TO LONDON + 12.93 MILLION OZ EXCHANGE FOR RISK ISSUANCE/PRIOR.//NEW TOTAL STANDING 88.540 MILLION OZ
AND JUNE: FINAL 16.995 MILLION OZ
AND JULY: 46.720 MILLION OZ//
AUGUST: 4.70 MILLION OZ INITIAL STANDING PLUS TODAY;S 5,000 OZ QUEUE JUMP //NEW STANDING ADVANCES TO 10.960 MILLION OZ
SEPTEMBER: 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.)
OCTOBER: 39.565 MILLION OZ OF NORMAL DELIVERY INCLUDES ALL QUEUE JUMPING
PLUS
2.110 MILLION OZ EXCHANGE FOR RISK//TOTAL OZ STANDING IN OCT ADVANCES TO 41.675 MILLION OZ
NOVEMBER: INITIAL STANDING AT 11.575 MILLION OZ FOLLOWED BY TODAY’S 195,000 OZ QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 9.155 MILLION OZ//STANDING ADVANCES TO 19.670 MILLION OZ/
DECEMBER: INITIAL AMOUNT STANDING FOR DELIVERY: 49.33 MILLION OZ// FOLLOWED BY ANOTHER SMALL 90,000 OZ EXCHANGE FOR PHYSICAL TRANSFER TO LONDON+ DEC. FIRST EXCHANGE FOR RISK 0F .850 MILLION OZ + LAST WEEK.S 495,000 OZ EXCHANGE FOR RISK AND THEN FINALLY TODAY’S ISSUANCE OF 1.00 MILLION OZ EXCHANGE FOR RISK//NEW TOTAL EX FOR RIS IS 2.335 MILLION OZ // STANDING ADVANCES TO 65.865 MILLION OZ//
THE NEW TAS ISSUANCE TUESDAY NIGHT (788) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED NO DOUBT WITH FUTURE TRADING!!
WE HAD 113 NOTICE(S) FILED TODAY FOR 0.565 MILLION OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL. IT IS NOW TIME FOR THE FBI TO ENTER THE COMEX AND ARREST THESE CROOKS EVEN THOUGH THE MAJORITY OF THE TRADING IS GOVERNMENT. THE BANKERS ARE COMPLICIT. THE SILVER COMEX IS NOW ON A MASSIVE SIEGE LOOKING FOR PHYSICAL SILVER!!
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A HUGE SIZED 7089 OI CONTRACTS DOWN TO 492,103 OI AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,105 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. (ALL TIME LOW OF 390,000 CONTRACTS.) THUS WE HAVE STILL A RELATIVELY LOWISH OI IN COMEX WITH AN EXTREMELY HIGH PRICE OF GOLD. THE SHORT RATS ARE ABANDONING THE SHIP.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED A HUGE AND CRIMINAL 8452 CONTRACTS // MEGA HUGE GOVERNMENT REMOVALS//
WE HAD A STRONG LOSS IN COMEX OI (7089 CONTRACTS) . THIS OCCURRED DESPITE OUR GAIN OF $52.85 IN PRICE// TUESDAY///.
LAST 8 MONTHS OF GOLD DELIVERIES: (MAY THROUGH TO NOVEMBER/DECEMBER)
MAY: SUMMARY FOR MAY TONNES WHICH STOOD FOR DELIVERY:
FINAL STANDING FOR MAY: 70.174 TONNES OF GOLD TO WHICH WE ADD 1. MONDAY’S (MAY 19) 6.221 TONNES EXCHANGE FOR RISK , 2. THEN WE ADD: 1.35 TONNES TO LAST WEEK”S. THEN WE ADD 3. 1.55 TONNES TO EQUAL 9.591 TONNES// NEW EXCHANGE FOR RISK = 9.591 TONNES WHICH MUST BE ADDED TO OUR NORMAL DELIVERY SCHEDULE OF 80.644 TONNES. THUS STANDING FOR MAY INCREASES TO 90.235 TONNES OF GOLD
2 JUNE CONTRACT MONTH: 93.085 TONNES OF GOLD (WHICH INCLUDES ALL QUEUE JUMPING AND 0 EX FOR RISK)
3.JULY INITIIAL STANDING FIRST DAY NOTICE: 17.847 TONNES. PLUS TODAY’S 0 TONNES QUEUE JUMP + 1.555 TONNES EX FOR RISK + 2.195 TONNES EX FOR RISK TODAY = 41.106 TONNES STANDING
4. 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
5.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!!
6.OCTOBER: 90.012 TONNES OF INITIAL GOLD STANDING WITH TODAY’S TINY 0.00311 TONNES QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS DURING OCT OF 76.1656 TONNES
THEN WE MUST ADD OUR 14.553 TONNES OF OUR ISSUANCE OF EXCHANGE FOR RISK/6 OCCASIONS//NEW TOTAL OF GOLD STANDING ADVANCES TO 197.5141 TONNES OF GOLD.
7.NOVEMBER BEGINS WITH 15.651 TONNES INITIALLY STANDING FOR DELIVERY FOLLOWED BY TODAY’S QUEUE JUMP OF 2.323 TONNES FOLLOWED BY ALL PREVIOUS QUEUE JUMPS IN OF OF 21.3775 TONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK ISSUANCE OF 4.5596 TONNES//NEW STANDING ADVANCES TO 43.9716 TONNES OF GOLD.
8. DECEMBER BEGINS WITH INITIAL STANDING OF 83.813 TONNES OF GOLD FOLLOWED BY TODAY’S 1.399 TONNE QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF: 34.5568 TONNES//NEW STANDING ADVANCES TO 114.192 TONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK FOR DECEMBER OF 2.488 TONNES/NEW STANDING ADVANCES TO 116.630 TONNES
E.F.P. ISSUANCE/FOR OPENING DECEMBER GOLD CONTRACT
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUGE SIZED 5083 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 492,103 AND WE NOW WITNESSING A NOW BIGGER COMEX OI BUT WITH AN EXTREMELY HIGH PRICE OF GOLD.//NOW EASIER TO FLEECE SPECS.
SILVER ALSO HAS A FAIR SIZED COMEX OI OF 155,710 CONTRACTS//BUT NOW LESS DIFFICULT TO FLEECE SPEC LONGS.
IN ESSENCE WE HAVE A FAIR SIZED LOSS IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 2006 CONTRACTS WITH 7,089 CONTRACTS DECREASED AT THE COMEX// AND A HUGE SIZED 5083 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 2006 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED BUT CRIMINAL 1160 CONTRACTS AND THESE ISSUANCES ARE GENERALLY USED TO INITIATE A RAID WHEN CALLED UPON.
GOLD PRICE ON TUESDAY ROSE BY $52.85
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS CONTRACT(5083) ACCOMPANYING THE HUGE LOSS IN COMEX OI OF 7089 CONTRACTS/TOTAL LOSS FOR OUR THE TWO EXCHANGES: 2,006 CONTRACTS..WE HAVE 1) NOW RETURNED TO OUR NORMAL FORMAT OF BANKER (FRBNY) GOING ON THE SHORT SIDE AND NEWBIE SPECULATORS GOING TO THE LONG SIDE AND POURING IT ON WITH RECKLASS ABANDON!! . ,2.) STRONG INITIAL STANDING FOR GOLD FOR DEC AT 83.813 TONNES OF NORMAL DELIVERY FOLLOWED BY OUR 1.399 TONNES OF QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPING OF 34.5568 TONNES//NEW STANDING ADVANCES TO 114.192 TONNES TO WHICH WE ADD OUR 2 EXCHANGE FOR RISK OF 2.488 TONNES/NEW STANDING IS THUS 116.630 TONNES
NEW STANDING ADVANCES TO 116.630 TONNES.
NEW STANDING FOR GOLD, DEC CONTRACT AT 116.630 TONNES OF GOLD
3) ZERO T.A.S. LIQUIDATION (BUT CONSIDERABLE GOVT LIQUIDATION AND COMMENCEMENT OF A TINY MONTH END SPREADER LIQUIDATION // AND HUGE GAIN OF EQUITY SHARES/DEC 19) AS WE HAD 1)A $52.80 COMEX PRICE GAIN AND WE HAD 2) NEWBIE SPEC SHORTS GETTING LIQUIFIED AND ON A NET BASIS, THE SPECS GAINED HUGELY IN NUMBERS + EASTERN CENTRAL BANKERS WERE PILING INTO THE LONG SIDE AS WE HAD A FAIR SIZED LOSS OF 2006 CONTRACTS ON OUR TWO EXCHANGES AND AS WELL A HUGE AMOUNT OF GOLD WILL STAND FOR DELIVERY IN DECEMBER (116.630 TONNES). //, CENTRAL BANKERS TENDERED FOR PHYSICAL WITH THEIR PURCHASES OF CONTRACTS../ ALSO, 3)STICKY GOLD’S LONGS WERE REWARDED TUESDAY EVENING AS THEY EXERCISED EFP’S FROM LONDON TO TAKE DELIVERY OF BADLY NEEDED PHYSICAL DESPITE THE FALL IN PRICE YESTERDAY
4)A STRONG SIZED COMEX OI LOSS/ 5) V) HUGE SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL GOLD (4300) AND A FAIR T.A.S. ISSUANCE 1160 FOR RAID PURPOSES
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC :
TOTAL EFP CONTRACTS ISSUED: 54,832 CONTRACTS OR 5,483,200 OZ OR 170.550 TONNES IN 19 TRADING DAY(S) AND THUS AVERAGING: 2885 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN19 TRADING DAY(S) IN TONNES: 170.55 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2024, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 170.55 TONNES DIVIDED BY 3550 x 100% TONNES = 4.80% OF GLOBAL ANNUAL PRODUCTION
SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_
OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)
NOV: 312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP
DEC. 175.62 TONNES//FINAL ISSUANCE//
TOTALS: 2,578.08 TONNES/2021
JAN:2022 247.25 TONNES //FINAL
FEB: 196.04 TONNES//FINAL
MARCH/2022: 409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.
APRIL: 169.55 TONNES (FINAL VERY LOW ISSUANCE MONTH)
MAY: 247.44 TONNES FINAL//
JUNE: 238.13 TONNES FINAL
JULY: 378.43 TONNES FINAL/SECOND HIGHEST ON RECORD
AUGUST: 180.81 TONNES FINAL
SEPT. 193.16 TONNES FINAL
OCT: 177.57 TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)
NOV. 223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)
DEC: 185.59 tonnes // FINAL
TOTAL: 2,847,25 TONNES/2022
JAN 2023: 228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!
FEB: 151.61 TONNES/FINAL
MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)
APRIL: 197.42 TONNES
MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)
JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)
JULY: 151.69 TONNES (WEAKER THAN LAST MONTH)
AUGUST: 195.28 TONNES (A STRONGER MONTH)//FINAL
SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)
OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.
NOV. 239.16 TONNES//WILL BE STRONG THIS MONTH,
DEC. 213.704 TONNES. A STRONG MONTH//
TOTAL FOR YEAR 2023: 2,569.57 TONNES VS 2578 TONNES LAST YEAR
2024 AND 2025:
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. 252.72 TONNES//CERTAINLY MUCH LARGER THIS MONTH/VERY STRONG
NOV: 124.74 TONNES
DEC: 170.55 TONNES//GOOD SIZED THIS MONTH.
SPREADING OPERATION
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 HUGE SIZED 1084 CONTRACTS OI TO 155,710 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 7 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 135 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MAR 135 CONTRACTS and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 0 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 1084 CONTRACTS AND ADD TO THE 135 E.FP. ISSUED
WE OBTAIN A HUGE SIZED LOSS OF 949 OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES DESPITE OUR HUGE GAIN OF $2.40 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 4.745 MILLION PAPER OZ
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
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS WEDNESDAY MORNING.7:30 AM
ASIA RESULTS; WEDNESDAY DEC 24
SHANGHAI CLOSED UP 20.97 POINTS OR 0.53%
//Hang Seng CLOSED UP 44.79 PTS OR 0.17%
// Nikkei CLOSED DOWN 44.79 PTS OR 0.17% //Australia’s all ordinaries CLOSED DOWN 0.26%
//Chinese yuan (ONSHORE) CLOSED UP TO 7.0131
/ OFFSHORE CLOSED UP AT 7.0936/ Oil UP TO 58.42 dollars per barrel for WTI and BRENT UP TO 62.40 Stocks in Europe OPENED ALL RED
ONSHORE USA/ YUAN TRADING UP TO 7.0135 OFFSHORE YUAN TRADING UP TO 7.0036:/ONSHORE YUAN TRADING BELOW OFF SHORE AND UP ON THE DOLLAR// / AND THUS STRONGER//OFF SHORE YUAN TRADING UP AGAINST US DOLLAR/ AND THUS STRONGER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A HUGE SIZED 7089 CONTRACTS TO 492,103 OI DESPITE OUR HUGE GAIN IN PRICE OF $52.85 WITH RESPECT TO TUESDAY’S // TRADING/ //COMEX CLOSING TIME:… WE LOST ZERO NET LONGS, WITH THAT PRICE GAIN FOR GOLD. AND AS YOU WILL SEE BELOW, OUR GAIN IN PRICE ALSO HAD A HUGE NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (5083). WE HAD ZERO T.A.S. LIQUIDATION TUESDAY (WITH MONTH END SPREADER LIQUIDATIONS CONTINUING TUESDAY WITH SMALL REMOVALS). IT SEEMS THAT THE SPECULATORS WENT MASSIVELY HUGE TO THE LONG SIDE WITH OUR FRBNY PROVIDING STILL THE NECESSARY PAPER AND OTHER CENTRAL BANKERS CONTINUING ON THE LONG SIDE .
YOU WILL NOTICE THAT THE COMEX OI IS NOW GAINING HUGELY FROM ITS LOW OI OF AROUND 418,000 TO NOW 492,103 AND NOW AMPLE ENOUGH FOR A RAID BY OUR BANKERS.
WE THUS HAD A TOTAL LOSS IN OI ON BOTH OF OUR EXCHANGES, THE COMEX AND LONDON’S EXCHANGE FOR PHYSICAL EQUATING TO 2006 CONTRACTS (OR 6.239 TONNES). THEN WE WERE NOTIFIED AGAIN OF A 0 CONTRACT EXCHANGE FOR RISK ISSUANCE IN GOLD CONTRACTS ISSUED FOR 0 OZ OR 0 TONNES OF GOLD. IN DECEMBER WE HAVE RECORDED 2 ISSUANCES OF EXCHANGE FOR RISK AS IT CAME LATE IN THE MONTH. WE HAVE 3 CHOICES NOW FOR THE RECIPIENT OF THIS ISSUANCE AND IT MUST BE A CENTRAL BANK. YOU WILL RECALL THAT THE BUYER ASSUMES THE RISK OF THAT DELIVERY. (THUS TOTAL EXCHANGE FOR RISK FOR THE MONTH OF DECEMBER IS 2.488 TONNES/2 OCCASIONS)
HERE ARE THE CHOICES:
1 THE CENTRAL BANK OF ENGLAND. BUT THEY RECEIVED CLEARANCE THAT THEIR GOLD IS BACK SO IT IS NOT LIKELY THAT THEY WOULD LIKE TO ADD TO THEIR RESERVES.
2. THE CENTRAL BANK OF THE USA: THE FED. LOGICAL CHOICE AS THEY CLAMOUR TRYING TO REDUCE THEIR 39 TONNES OF SHORTAGE.
3. THE CENTRAL BANK OF CHINA AS THEY BATTLE WITS WITH THE USA.
TOTAL EXCHANGE FOR RISK FOR DECEMBER IS 2.498 TONNES AND THIS WILL BE ADDED TO OUR NORMAL DELIVERY TOTALS..
DETAILS ON OUR NEW DECEMBER COMEX CONTRACT MONTH//
IN TOTAL WE HAD A FAIR SIZED LOSS ON OUR TWO EXCHANGES OF 2006 CONTRACTS DESPITE OUR GAIN IN PRICE. HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN THROUGHOUT OF THE WEEK AS THEY WERE READY FOR THE FRBNY.S CONTINUED ORCHESTRATED ATTACKS VERY EARLY IN THE COMEX SESSIONS AS THEY TRIED TO ABSORB EVERYTHING IN SIGHT FROM THEIR DAILY ATTACKS. LONDONERS EXERCISED THEIR BOUGHT CONTRACTS FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE AND THANKED THE FRBNY AND OUR SHORT SPECULATORS 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 OTHER CENTRAL BANKS, AND COMEX BANKS HAVE BEEN PAPERING THEIR LOSSES (DERIVATIVE) WITH KILOBAR ENTRIES.
THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THE MONTHS OF JUNE THROUGH DECEMBER/ CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY ALTHOUGH THE T.A.S. ISSUANCES IN GOLD HAVE GENERALLY BEEN ON THE LOW SIDE COMPARED TO SILVER WHICH HAVE BEEN HUGE. TODAY’S NUMBER HOWEVER IS A FAIR T.A.S ISSUANCE CONTRACTS. THE CME NOTIFIES US THAT THEY HAVE ISSUED 1160 T.A.S CONTRACTS AND WILL BE USED FOR RAID PURPOSES TO STOP GOLD’S RISE AND TO TEMPER HUGE LOSSES IN OTC DERIVATIVE BETS AND IT WAS IN FULL FORCE DURING LAST WEEK AND CONTINUING ON THIS WEEK. IT SURE LOOKS LIKE THE BIS HAS GIVEN THE FRBNY ITS MARCHING ORDERS TO COVER AND THAT MAY EXPLAIN THE HUGE NUMBER OF T.A.S. ISSUANCES IN EARLY DECEMBER.
HERE IS A SUMMARY OF GOLD STANDING FOR DELIVERY ON OUR LAST 9 MONTHS:
FOR APRIL AT 209 TONNES
2. AND THIS CONTINUED INTO MAY WITH FINAL STANDING AT 90.23 TONNES.
3. 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.)
4. 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
5. 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!!!
6. 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 1.244 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!!!
7. OCTOBER:
OCTOBER: INITIAL STANDING FOR GOLD: 90.164 TONNES TO WHICH WE ADD OUR LATEST OCT 30 QUEUE JUMP OF 0.00311 TONNES WHICH FOLLOWS OCT 29 QUEUE JUMP OF .4096 WHICH FOLLOWS; OCT 28 QUEUE JUMP OF .5069 TONNES WHICH FOLLOWS OCT 27 OF 0.3048 TONNES WHICH FOLLOWS: OCT 24 OF 0.8615 TONNES, FOLLOWING OCT 23 QUEUE JUMP OF 1.695 TONNES 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 197.511 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: TOTAL MONTH;: 92.7648 TONNES
(ALL OF THESE QUEUE JUMPS ARE REPRESENTED BY CENTRAL BANKS DESPERATELY ADDING TO THEIR OFFICIAL RESERVES)
EQUALS
197.5141 TONNES OF GOLD!!
END
8. NOVEMBER:TOTAL TONNES STANDING INCLUDING ALL QUEUE JUMPS AND EXCHANGE FOR RISK ISSUANCE:
INITIAL GOLD STANDING AT THE COMEX IS 5032 CONTRACTS OR 503,200 OZ (15.651 TONNES) FOLLOWED BY ITS TODAY’S QUEUE JUMP OF 2.323 TONNES/ FOLLOWED BY ALL NOVEMBER QUEUE JUMPS OF 21.3775 TONNES TO WHICH WE ADD OUR SECOND EXCHANGE FOR RISK OF 1016 CONTRACTS FOR 101600 OZ OR 3.165 TONNES TO OUR FIRST EXCHANGE FOR RISK ISSUANCE OF 1.3966 TONNES/// NEW EXCHANGE FOR RISK: 4.5595 TONNES//NEW TOTAL GOLD STANDING IN NOVEMBER ADVANCES TO 43.9716 TONNES
9. DECEMBER: INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY: 83.813 TONNES OF GOLD FOLLOWED BY TODAY’S 1.399 TONNES OF QUEUE JUMP WHICH FOLLOWS ALL OTHER NET QUEUE JUMPING OF 35.3974 TONNES//STANDING ADVANCES TO 114.192 TONNES TO WHICH WE ADD OUR TWO ISSUANCES OF EXCHANGE FOR RISK OF 2.488 TONNES/NEW STANDING IS THUS: 116.630 TONNES.
THE FED IS THE OTHER MAJOR SHORT OF AROUND 39+ TONNES OF GOLD OWING TO THE B.I.S. THE OCC ORDERED THE BANKS TO COVER THEIR GOLD LOSSES FROM OCC BETS. THIS IS SUCH A SMALL FRACTION OF WHAT IS OWED!!! THE FRBNY BORROWED GOLD FROM THE BIS TO COVER THOSE HUGE LOSSES OF AROUND 39 TONNES OF GOLD.. THE FED IS VERY WORRIED ABOUT WHAT IS GOING TO HAPPEN TO GOLD PRICES IF THEY DO NOT BORROW THIS GOLD. SO IT IS POSSIBLE THAT THE FED IS THE BUYER OF 1.244 TONNES OF EXCHANGE FOR RISK/DECEMBER!!
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 SEVERAL MONTHS. THEY ARE TOTALLY TRAPPED., AND THEIR FAILURE TO STOP OTHER CENTRAL BANK PURCHASES OF PHYSICAL GOLD IS THE MAJOR ISSUE OF THE DAY. IT SURE DOES LOOK LIKE THE BIS HAS NOW GIVEN THE FED ITS MARCHING ORDERS TO COVER ITS PHYSICAL GOLD SHORT AS THEIR OUTSTANDING LOAN OF 39+ TONNES REMAIN ON THE BOOKS OF THE BIS AND THE END OF THE YEAR IS APPROACHING.
THE FRBNY IS STILL 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
EXCHANGE FOR PHYSICAL ISSUANCE/DEC.//BORROWINGS FROM THE FRBNY:
THE CME REPORTS THAT THE BANKERS ISSUED A HUGE SIZED EXCHANGE FOR PHYSICAL OF 5083 CONTRACTS.
THAT IS A FAIR SIZED 5083 EFP CONTRACT WAS ISSUED: : /FEB 5083 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 5083 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 AS THEY ORDERED THE BULLION BANKS TO COVER MUCH OF THEIR DERIVATIVE BETS ON THESE CONTRACTS!! THUS THE FRBNY SAVED OUR BULLION BANKS FROM EXTINCTION WITH THIS BORROWED GOLD FROM THE BIS OF 39 TONNES
WE HAD :
ZERO LIQUIDATION OF OUR T.A.S. SPREADERS DURING THE COMEX SESSION + BUT DID HAVE CONSIDERABLE GOVERNMENT LIQUIDATION
MONTH END SPREADERS HAVE NOW COMMENCED!…
T.A.S.SPREADER ISSUANCE//DECEMBER
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS USUALLY DURING MID MONTH IN THE DELIVERY CYCLE), BUT NOW ON A DAILY BASIS, THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR TUESDAY NIGHT//WEDNESDAY MORNING WAS A FAIR SIZED 1160 CONTRACTS
THE RAIDS WHETHER ON OPTIONS EXPIRY MONTH OR T.A.S. DRIVEN, ACCOMPLISHES TWO IMPORTANT ASPECTS FOR OUR CROOKS:
STALLS THE ADVANCE IN PRICE
LOWERS THEIR ADVANCING DERIVATIVE LOSSES.
THAT SET UP TUESDAY’S GAIN IN PRICE IN GOLD WITH A CORRESPONDING STRONG GAIN OF COMEX OI AND A FAIR EXCHANGE FOR PHYSICAL ISSUANCE..ENOUGH FODDER FOR THE COMMENCEMENT OF A RAID
.
THE COMEX IS IN TOTAL TURMOIL ESPECIALLY THESE PAST 6 MONTHS 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
TO BE FOLLOWED BY NOVEMBER’S TWO ISSUANCES FOR 4.5575 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/
FRBNY BORROWS ANOTHER 24 TONNES OF GOLD FROM THE BIS IN OCT TO SAVE THE BULLION BANKS FROM EXTINCTION AFTER THE O.C.C ORDERED THE BULLION BANKS TO BE ONSIDE WITH THEIR DERIVATIVES. THE FRBNY IS NOW SHORT 54+ TONNES OF GOLD.
MASSIVE REMOVAL OF COMEX CONTRACTS FROM PRELIMINARY OI TO FINAL OI//RECORD 33,000 CONTRACTS REMOVED FRIDAY NOV 21//
MASSIVE T.A.S. CONTRACTS ISSUED FOR 5 CONSECUTIVE DAYS/SIGNALLING A MASSIVE RAID TO BE!
MASSIVE RAIDS AT THE COMEX CALLED UPON EVERY OTHER DAY LAST WEEK
GOLD STANDING AT THE COMEX FOR GOLD LAST 12 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.
OCTOBER: INITIAL AMOUNT OF GOLD STANDING: 90.164 TONNES OF GOLD FOLLOWED BY TODAY’S TINY 0.00311 TONNES QUEUE JUMP WHICH FOLLOWS ALL PREVIOUS QUEUE JUMPS OF 76.1656 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 197.5141 TONNNES.
NOVEMBER WHERE INITIAL AMOUNT OF GOLD STANDING IS REGISTERED AT 15.651 TONNES OF GOLD FOLLOWED BY TODAY’S QUEUE JUMP OF 2 TONNES AND FOLLOWED BY ALL OTHER NOV QUEUE JUMPS OF 21.3775 TONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK ISSUANCE FOR 4.5596 TONNES.
DECEMBER: INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY IN THIS ACTIVE MONTH IS 83.813 TONNES FOLLOWED BY TODAY’S 1.399 TONNES QUEUE JUMP. THIS FOLLOWS ALL OTHER QUEUE JUMPING: 35.3974 TONNES//NEW STANDING ADVANCES TO 114.192 TONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK ISSUANCE OF 2.488 TONNES//NEW STANDING THUS INCREASES TO 116.630 TONNES
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 48 MONTHS 2021-2024
DEC 2021: 112.217 TONNES
NOV. 8.074 TONNES
OCT. 57.707 TONNES
SEPT: 11.9160 TONNES
AUGUST: 80.489 TONNES
JULY 7.2814 TONNES
JUNE: 72.289 TONNES
MAY 5.77 TONNES
APRIL 95.331 TONNES
MARCH 30.205 TONNES
FEB ’21. 113.424 TONNES
JAN ’21: 6.500 TONNES.
TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES
YEAR 2022: STANDING FOR GOLD/COMEX
JANUARY 2022 17.79 TONNES
FEB 2022: 59.023 TONNES
MARCH: 36.678 TONNES
APRIL: 85.340 TONNES FINAL.
MAY: 20.11 TONNES FINAL
JUNE: 74.933 TONNES FINAL
JULY 29.987 TONNES FINAL
AUGUST:104.979 TONNES//FINAL
SEPT. 38.1158 TONNES
OCT: 77.390 TONNES/ FINAL
NOV 27.110 TONNES/FINAL
Dec. 64.000 tonnes
(TOTAL YEAR 656.076 TONNES)
2023:STANDING FOR GOLD/COMEX
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
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: 66.276TONNES (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 DECEMBER,. CONTRACT;
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $52.85/ /)
WE HAD ZERO T.A.S. SPREADER LIQUIDATION TUESDAY WITH MINOR MONTH END SPREADER LIQUIDATION// COMEX SESSION// WITH OUR GAIN IN PRICE ////.. BUT OUR SPECULATORS REMAIN RELENTLESS POURING INTO THE COMEX// WITH OTHER EASTERN CENTRAL BANKS TENDERING FOR PHYSICAL TUESDAY NIGHT WHICH ALSO EXPLAINS THE HUGE NUMBER OF TONNES OF GOLD STANDING FOR DECEMBER. THE COMEX IS ONE BIG MESS!!
TUESDAY NIGHT//WEDNESDAY MORNING
THE CROOKS HOWEVER COULD NOT STOP OTHER 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
A LITTLE REVIEW OF GOLD STANDING THESE PAST 3 MONTHS:
STANDING FOR GOLD OCT THROUGH TO DECEMBER:
ANALYSIS// OCT DELIVERY MONTH GOING FROM FIRST DAY NOTICE// OCT COMEX CONTRACT TO FINALIZATION OCT 31:
OCT AT 90.164 TONNES TO BE FOLLOWED BY ALL PREVIOUS QUEUE JUMPS OF 75.696 TONNES WHICH WE ADD OUR 14.553 TONNES EX FOR RISK/6 OCCASIONS:
/ TOTAL STANDING 197.551 TONNE/OCTOBER FINAL//ABSOLUTELY A MONSTER DELIVERY FOR A NORMALLY QUIET OCT MONTH
2. AND NOW NOVEMBER:
NOVEMBER BEGINS WITH A HUGE 15.651 TONNES INITIALLY STANDING FOR DELIVERY FOLLOWED BY OUR TODAY’S QUEUE JUMP OF 2.323 TONNES WHICH FOLLOWED ALL OTHER NOVEMBER QUEUE JUMPS OF 21.3775 TONNES TO WHICH WE ADD OUR TWO ISSUANCES OF EXCHANGE FOR RISK OF 4.5596 TONNES..
NEW STANDING ADVANCES TO 43.9716 ONNES OF GOLD.
3. AND NOW DECEMBER:
3. DECEMBER: INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY: 83.813 TONNES FOLLOWED BY A 450 CONTRACT QUEUE JUMP FOR 45000 OZ OR 1.399 TONNES WHICH FOLLOWS OTHER DEC QUEUE JUMPS OF: 35.3974 TONNES///STANDING ADVANCES TO 114.192 TONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK ISSUANCE OF 2.488 TONNES/NEW STANDING ADVANCES TO 116,630 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $52.85
WE HAD A HUGE 8452 CONTRACTS REMOVED TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE .
NET LOSS ON THE TWO EXCHANGES : 2006 CONTRACTS OR 200,600 OZ OR 6.239 TONNES
Total monthly oz gold served (contracts) so far this month
36,498 notices 3,649,800 0z 113.524TONNES
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
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DEPOSITS/CUSTOMER
DEPOSITS/CUSTOMER
1 ENTRIES
i) Into BRINKS 96.22 oz (3 kilobars)
total deposit: 96.22 oz
customer withdrawals:
0 ENTRIES
they are draining the comex of gold
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ADJUSTMENTs 2//
a) Brinks//customer to dealer: 32,118.849 oz (999 kilobars)
b) HSBC 7396.66 oz (230 kilobars)
chaos inside the comex
AMOUNT OF GOLD STANDING FOR DECEMBER
THE FRONT MONTH OF DECEMBER STANDS AT 632 CONTRACTS FOR A LOSS OF 331 CONTRACTS. WE HAD 781 CONTRACTS FILED ON TUESDAY SO WE GAINED A STRONG 450 CONTRACTS FOR A QUEUE JUMP OF 45000 OZ OR 1.399 TONNES TO WHICH WE ADD TO OUR PREVIOUS QUEUE JUMPS AND THEN ADD OUR TWO ISSUANCES OF EXCHANGE FOR RISK FOR 2.488 TONNES .THUS STANDING FOR GOLD IN DECEMBER INCREASES HUGELY TO 116.63 TONNES
JANUARY GAINED 297 CONTRACTS UP TO 4050 AS JANUARY BECOMES THE FRONT MONTH. WE WILL PROBABLY HAS A GOOD SIZED 9 TO 11 TONNES OF GOLD STANDING.
FEB LOST 9299 CONTRACTS DOWN TO 351,135 CONTRACTS
We had 417 contracts filed for today representing 41,700 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 258 notices issued from their client or customer account. The total of all issuance by all participants equate to 417 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 174 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for DEC /2025. contract month, we take the total number of notices filed so far for the month (36,498 ) to which we add the difference between the open interest for the front month of DEC ( 632 CONTRACTS) minus the number of notices served upon today (417 x 100 oz per contract) equals 3,671,300 OZ OR 114.192 Tonnes of gold + 2.488 TONNES of exchange for risk issuance: new total standing advances to 116.630 tonnes!!
thus the INITIAL standings for gold for the DEC contract month: No of notices filed so far (36,498 x 100 oz +we add the difference for front month of DEC (632 OI} minus the number of notices served upon today (417)x 100 oz) which equals 3,671,300 OR 114.192 TONNES + 2.488 tonnes exchange for risk//new total standing advances to 116.630 tonnes
new total of gold standing in DECEMBER is 116.630 tonnes
TOTAL COMEX GOLD STANDING FOR DEC ..: 116.630 TONNES TONNES WHICH IS STRONG FOR THIS NORMALLY VERY ACTIVE ACTIVE DELIVERY MONTH OF DECEMBER.
volume TUESDAY confirmed 272,816 good
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COMEX GOLD INVENTORIES/CLASSIFICATION
NEW PLEDGED GOLD:
241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES
204,937.290 OZ PLEDGED MANFRA 3.08 TONNES
83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes
265,999.054, oz JPM No 2
1,152,376.639 oz pledged Brinks/
Manfra: 33,758.550 oz
Delaware: 193.721 oz
International Delaware:: 11,188.542 oz
total pledged gold: 2,001,427.554 oz 62.252 tonnes pledged gold lowers
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 36,159,361.415 oz
TOTAL REGISTERED GOLD 19,361,513.292 or 602.224 Tonnes
TOTAL OF ALL ELIGIBLE GOLD 16,797,846.121 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON 17,360,008oz ((REG GOLD- PLEDGED GOLD)=
539.97 Tonnes // (declining rapidly)
total inventories in gold declining rapidly
SILVER/COMEX
THE DEC. 2025 SILVER CONTRACTS
DEC 24 2025
INITIAL/
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
0 entries
Deposits to the Dealer Inventory
1 ENTRY
i) Into the dealer Stonex: 449,016.320 oz
total deposit dealer 449,016.320 oz
Deposits to the Customer Inventory
1 ENTRIES
i) Into CNT 22,603.8900 oz
total deposit 22,603.890 oz oz
No of oz served today (contracts)
113 CONTRACT(S) ( 0.565 million OZ
No of oz to be served (notices)
18 contracts (0.090 MILLION oz)
Total monthly oz silver served (contracts)
12,688 Contracts (63.440 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
1 ENTRY
i) Into the dealer Stonex: 449,016.320 oz
total deposit dealer 449,016.320 oz
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DEPOSIT ENTRIES/CUSTOMER ACCOUNT
1 ENTRIES
) Into CNT 22,603.8900 oz
total deposit 22,603.890 oz oz
withdrawals: customer side/eligible
zero entries
total withdrawal: 851,758.480 oz
adjustments: 4
all dealer to customer accounts
a) CNT 331,356.580 oz
b) HSBC 565,540.380 oz
c) JPMorgan: 366,688.400 oz
d) Malca: 44,163.716 oz
total adjustments; 1,307,749.876 oz
TOTAL REGISTERED SILVER: 126.355 MILLION OZ//.TOTAL REG + ELIGIBLE. 451.352Million oz
registered silver dropping in numbers
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DEC.
silver open interest data:
FRONT MONTH OF DECEMBER /2025 OI: 131 OPEN INTEREST CONTRACTS FOR A LOSS OF 36 CONTRACTS. WE HAD 27 CONTRACTS FILED ON TUESDAY SO WE ACTUALLY LOST 9 CONTRACTS OR 45,000 OZ UNDERWENT AN EXCHANGE FOR PHYSICAL TRANSFER TO LONDON WHERE THEY WILL TAKE DELIVERY OVER ON THAT SIDE OF THE POND.
JANUARY GAINED 34 CONTRACTS UP TO 4337 CONTRACTS AS JANUARY NOW BECOMES THE FRONT MONTH. WE MAY HAVE A VERY STRONG JANUARY DELIVERY MONTH FOR AROUND 20 MILLION OZ
FEB GAINED 6 CONTRACTS UP TO 1579 CONTRACTS
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 113 or 0.565 MILLION oz
CONFIRMED volume; ON TUESDAY 141,678 huge//
AND NOW DECEMBER. DELIVERIES:
To calculate the number of silver ounces that will stand for delivery in DEC. we take the total number of notices filed for the month so far at 12,688 X5,000 oz = 63.440 MILLION oz
to which we add the difference between the open interest for the front month of DEC (131) AND the number of notices served upon today (113 )x (5000 oz)
Thus the standings for silver for the DECEMBER 2025 contract month: (12,688) Notices served so far) x 5000 oz + OI for the front month of DEC(131) minus number of notices served upon today (113)x 5000 oz equals silver standing for the DEC.contract month equating to 63.530 MILLION OZ + 850 MILLION OZ FOR DEC ‘S FIRST EXCHANGE FOR RISK , THEN A SECOND EXCHANGE FOR RISK OF .485 MILLION OZ AND NOW A THIRD ISSUANCE FOR 1.0 MILLION OZ//NEW TOTAL EXCHANGE FOR RISK; 2.335 MILLION OZ: THUS WE HAVE THE FOLLOWING:
NORMAL STANDING: 63.530 MILLION OZ
PLUS 2.335 MILLION OZ EXCHANGE FOR RISK/3 OCCASIONS
New total standing: 65.865 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 126.355. million oz of registered silver
JPMorgan as a percentage of total silver: 188,253/451.352million. 41.94%
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
DEC 24/WITH GOLD UP $2.15 TODAY/NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 1064.66 TONNES
DEC 23/WITH GOLD UP $52.85 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A FRAUDULENT DEPOSIT OF 12.12 TONNES OF GOLD INTO THE GLD/// /// ///INVENTORY RESTS AT 1064.66 TONNES
DEC 22/WITH GOLD UP $80,25 TODAY/NO CHANGES IN GOLD AT THE GLD: // /// ///INVENTORY RESTS AT 1052.54 TONNES
DEC 19/WITH GOLD UP $22.20 TODAY/NO CHANGES IN GOLD AT THE GLD: // /// ///INVENTORY RESTS AT 1052.54 TONNES
DEC 18/WITH GOLD DOWN $9.05 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF .85 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1052.54 TONNES
DEC 17/WITH GOLD UP $39.45 TODAY/NO CHANGES IN GOLD AT THE GLD:// /// ///INVENTORY RESTS AT 1051.69 TONNES
DEC 16/WITH GOLD DOWN $3.95 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.43 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1051.69 TONNES
DEC 15/WITH GOLD UP $10.15 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.29 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 105.12 TONNES
DEC 12/WITH GOLD UP $14.20 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 4.01 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1050.83 TONNES
DEC 11/WITH GOLD UP $85.00 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.15 TONNES OF GOLD OUT OF THE GLD// /// ///INVENTORY RESTS AT 1046.82 TONNES
DEC 10/WITH GOLD UP $85.00 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.15 TONNES OF GOLD OUT OF THE GLD// /// ///INVENTORY RESTS AT 1046.82 TONNES
DEC 9/WITH GOLD UP $18.50 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.14 TONNES OF GOLD OUT OF THE GLD// /// ///INVENTORY RESTS AT 1049.11 TONNES
DEC 8/WITH GOLD DOWN $23.40 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 0.33 TONNES OF GOLD OUT OF THE GLD// /// ///INVENTORY RESTS AT 1050.25 TONNES
DEC 5/WITH GOLD UP $9.30 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A FRAUDULENT DEPOSIT OF 4.00 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1050.58 TONNES
DEC 4/WITH GOLD UP $9.95 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.72 TONNES OF GOLD OUT OF THE GLD// /// ///INVENTORY RESTS AT 1046.58 TONNES
DEC 3/WITH GOLD UP $14.25 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.71 TONNES OF GOLD OUT OF THE GLD// /// ///INVENTORY RESTS AT 1048.30 TONNES
DEC 2/WITH GOLD DOWN $53.35 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 4.58 TONNES OF GOLD VAPOUR INTO THE GLD// /// ///INVENTORY RESTS AT 1050.01TONNES
DEC 1/WITH GOLD UP $22.75 TODAY/NO CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 1.14 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1045.43TONNES
NOV 28/WITH GOLD UP $51.85 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 1.14 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1045.43 TONNES
NOV 26/WITH GOLD UP $25.40 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A FRAUDULENT PAPER DEPOSIT OF 4.57 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1040.57 TONNES
NOV 25/WITH GOLD UP $46.60 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 1.14 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1040.57 TONNES
NOV 24/WITH GOLD UP $16.95 TODAY/SMALL CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.29 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1040.86 TONNES
NOV 21/WITH GOLD UP $18.55 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.00 TONNES OF GOLD OUT OF THE GLD// /// ///INVENTORY RESTS AT 1039.43 TONNES
NOV 20/WITH GOLD DOWN $20.45 TODAY/NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 1041.43 TONNES
NOV 19/WITH GOLD UP $14.55 TODAY/NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 1041.43 TONNES
NOV 18/WITH GOLD DOWN $6.30 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.57 TONNES OF GOLD INTO THE GLD /// ///INVENTORY RESTS AT 1041.43 TONNES
NOV 17/WITH GOLD DOWN $20.40 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 4.93 TONNES OF GOLD INTO THE GLD /// ///INVENTORY RESTS AT 1044.000 TONNES
NOV 14/WITH GOLD DOWN $97.55TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.29 TONNES OF GOLD INTO THE GLD /// ///INVENTORY RESTS AT 1048.93 TONNES
NOV 13/WITH GOLD DOWN $17.80.TODAY/SMALL CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.28 TONNES OF GOLD INTO THE GLD /// ///INVENTORY RESTS AT 1064.64 TONNES
NOV 12/WITH GOLD UP $97.70.TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 4.30 TONNES OF GOLD INTO THE GLD /// ///INVENTORY RESTS AT XXX TONNES
NOV 11/WITH GOLD DOWN $3.80TODAY/NO CHANGES IN GOLD AT THE GLD: . /// ///INVENTORY RESTS AT 1042.06 TONNES
NOV 10/WITH GOLD UP $114.40TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT 0F 3.43 TONNES OF GOLD INTO THE GLD . /// ///INVENTORY RESTS AT 1042.06 TONNES
NOV 7/WITH GOLD UP $18.55 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 3.43 TONNES OF GOLD INTO THE GLD . /// ///INVENTORY RESTS AT1042.06TONNES
NOV 6//WITH GOLD UP $0.30TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL 0F 3.15 TONNES OF GOLD OUT OF THE GLD . /// ///INVENTORY RESTS AT1038,63TONNES
NOV 5//WITH GOLD UP $32.50TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL 0F 3.15 TONNES OF GOLD OUT OF THE GLD . /// ///INVENTORY RESTS AT1038,63TONNES
NOV 4 WITH GOLD DOWN $50.00 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT 0F 2.58 TONNES OF GOLD OUT OF THE GLD . /// ///INVENTORY RESTS AT 1041.78TONNES
GLD INVENTORY: 1064.66 TONNES, TONIGHTS TOTAL
SILVER
DEC 24/WITH SILVER UP $0.95 /HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 3.083 MILLION OZ FROM THE SLV/. ./ :INVENTORY RESTS AT 530.595MILLION OZ //
DEC 23/WITH SILVER UP $2.40 /HUGE CHANGES IN SILVER AT THE SLV: A FRAUDULENT DEPOSIT OF 17.13 MILLION OZ INTO THE SLV/. ./ :INVENTORY RESTS AT 533.678 MILLION OZ //
DEC 22/WITH SILVER UP $1.28 /HUGE CHANGES IN SILVER AT THE SLV: A DEPOSIT OF 1.541 MILLION OZ INTO THE SLV/. ./ :INVENTORY RESTS AT 516.541 MILLION OZ //
DEC 19/WITH SILVER UP $2.06 /NO CHANGES IN SILVER AT THE SLV: . ./ :INVENTORY RESTS AT 515.000 MILLION OZ //
DEC 18/WITH SILVER DOWN $1.13/NO CHANGES IN SILVER AT THE SLV: . ./ :INVENTORY RESTS AT 515.000 MILLION OZ //
DEC 17/WITH SILVER UP $2.93/HUGE CHANGES IN SILVER AT THE SLV: A HUGE WITHDRAWAL OF 1.36 MILLION OZ FROM THE SLV. ./ :INVENTORY RESTS AT 515.000 MILLION OZ //
DEC 16/WITH SILVER DOWN $.07/HUGE CHANGES IN SILVER AT THE SLV: A HUGE WITHDRAWAL OF 1.36 MILLION OZ FROM THE SLV. ./ :INVENTORY RESTS AT 56.360 MILLION OZ //
DEC 15/WITH SILVER UP $1.62/SMALL CHANGES IN SILVER AT THE SLV: A SMALL DEPOSIT OF 635,000 INTO THE SLV. ./ :INVENTORY RESTS AT 517.720 MILLION OZ //
DEC 12/WITH SILVER DOWN $2.30/NO CHANGES IN SILVER AT THE SLV: ./ :INVENTORY RESTS AT 517.085 MILLION OZ //
DEC 11/WITH SILVER UP $3.52/HUGE CHANGES IN SILVER AT THE SLV: A HUGE DEPOSIT OF 3.537 MILLION OZ INTO THE SLV./ :INVENTORY RESTS AT 517.085 MILLION OZ //
DEC 9/WITH SILVER UP $2.41/HUGE CHANGES IN SILVER AT THE SLV: A HUGE WITHDRAWAL OF 1.179 MILLION OZ OUT THE SLV./ :INVENTORY RESTS AT 510.828 MILLION OZ //
DEC 8/WITH SILVER DOWN $0.48/HUGE CHANGES IN SILVER AT THE SLV: A HUGE WITHDRAWAL OF 5.497 MILLION OZ OUT THE SLV./ :INVENTORY RESTS AT 512.007 MILLION OZ //
DEC 5/WITH SILVER UP 0.39/HUGE CHANGES IN SILVER AT THE SLV: A HUGE DEPOSIT OF 3.083 MILLION OZ INTO THE SLV./ :INVENTORY RESTS AT 517.448 MILLION OZ //
DEC 4/WITH SILVER DOWN $1.12/HUGE CHANGES IN SILVER AT THE SLV: A HUGE DEPOSIT OF 4383 MILLION OZ INTO THE SLV./ :INVENTORY RESTS AT 514.365 MILLION OZ //
DEC 3/WITH SILVER UP $0.23/HUGE CHANGES IN SILVER AT THE SLV: A HUGE DEPOSIT OF 1.956 MILLION OZ INTO THE SLV./ :INVENTORY RESTS AT 510.012 MILLION OZ //
DEC 2/WITH SILVER DOWN $0.65 TODAY/HUGE CHANGES IN SILVER AT THE SLV: A MASSIVE AND FRAUDLUENT PAPER DEPOSIT OF 6.167 MILLION OZ INTO THE SLV./ :INVENTORY RESTS AT 508.057 MILLION OZ //
DEC 1/WITH SILVER UP $2.21 TODAY/HUGE CHANGES IN SILVER AT THE SLV: A DEPOSIT OF 907,000 OZ INTO THE SLV./ :INVENTORY RESTS AT 501.890 MILLION OZ //
NOV28/WITH SILVER UP $3.28 TODAY/NO CHANGES IN SILVER AT THE SLV:/ :INVENTORY RESTS AT 500.983 MILLION OZ //
NOV26/WITH SILVER UP $1.86 TODAY/HUGE CHANGES IN SILVER AT THE SLV: A MAMMOTH DEPOSIT OF 2.267 MILLION OZ INTO THE SLV/ :INVENTORY RESTS AT 500.983 MILLION OZ //
NOV25/WITH SILVER UP $0.69 TODAY/HUGE CHANGES IN SILVER AT THE SLV: A MAMMOTH DEPOSIT OF 8.163 MILLION OZ INTO THE SLV/ :INVENTORY RESTS AT 498.716 MILLION OZ //THIS IS A FRAUDULENT TRANSACTION
NOV24/WITH SILVER UP $0.43 TODAY/SMALL CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 277,000, OZ OUT OF THE SLV/ :INVENTORY RESTS AT 490.553 MILLION OZ MILLION OZ
NOV21/WITH SILVER DOWN $0.53 TODAY/SMALL CHANGES IN SILVER AT THE SLV: A DEPOSIT OF 635,000 OZ INTO THE SLV/ :INVENTORY RESTS AT 490.190 MILLION OZ MILLION OZ
NOV20/WITH SILVER DOWN $0.53 TODAY/NO CHANGES IN SILVER AT THE SLV: :INVENTORY RESTS AT 489.555 MILLION OZ MILLION OZ
NOV 19/WITH SILVER UP $0.36 TODAY/NO CHANGES IN SILVER AT THE SLV: :INVENTORY RESTS AT 489.283 MILLION OZ MILLION OZ
NOV 18/WITH SILVER DOWN $0.13 TODAY/NO CHANGES IN SILVER AT THE SLV: :INVENTORY RESTS AT 489..283 MILLION OZ MILLION OZ
NOV 17/WITH SILVER DOWN $0.07 TODAY/HUGE CHANGES IN SILVER AT THE SLV: A DEPOSIT OF 1.451 MILLION OZ INTO THE SLV:INVENTORY RESTS AT 489.283 MILLION OZ MILLION OZ
NOV 14/WITH SILVER DOWN $2.08 TODAY/HUGE CHANGES IN SILVER AT THE SLV: A DEPOSIT OF 2.722 MILLION OZ INTO THE SLV:
INVENTORY RESTS AT 487.832 MILLION OZ MILLION OZ
NOV 13/WITH SILVER DOWN $0.58 TODAY/NO CHANGES IN SILVER AT THE SLV: . /// ///INVENTORY RESTS AT 485.110 MILLION OZ
NOV 12/WITH SILVER UP $2.59 TODAY/NO CHANGES IN SILVER AT THE SLV: . /// ///INVENTORY RESTS AT 485.110 MILLION OZ
NOV 11/WITH SILVER UP $0.63 TODAY/NO CHANGES IN SILVER AT THE SLV: . /// ///INVENTORY RESTS AT 485.110 TONNES
NOV 10/WITH SILVER UP $2.05 TODAY/NO CHANGES IN GOLD AT THE SLV: . /// ///INVENTORY RESTS AT 485.110 TONNES
NOV 7 WITH SILVER UP $0.22 TODAY/HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 2.54 MILLION OZ FROM THE SLV / ///INVENTORY RESTS AT 485.110 MILLION OZ
NOV 6 WITH SILVER DOWN $0.12 TODAY/SMALL CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 713,000 OZ FROM THE SLV / ///INVENTORY RESTS AT 487,650 MILLION OZ
NOV 5 WITH SILVER UP $0.67TODAY/SMALL CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 713,000 OZ FROM THE SLV / ///INVENTORY RESTS AT 487,650 MILLION OZ
2025 was the year silver stackers were waiting for. The metal blew through $40/oz, then $50 and $60 without a backward glance, and is now testing $70. Many of you are suddenly rich. Nicely done!
But now we’re in an interesting place. Silver’s chart screams “overbought, correction imminent!” while its fundamentals make a parabolic spike a distinct possibility in the coming year. So what should we do?
Generally speaking, if you’re stacking physical, just keep on with what you’re doing and don’t sweat the squiggles. Triple-digit silver is inevitable, and you want to be locked and loaded when it arrives.
Still, a quick, sharp correction can’t be discounted. Extreme volatility, up or down, could be silver’s story in 2026.
Enter the Volatility Spread
There’s a simple options strategy for times like this. It’s called a volatility spread, and involves buying mirror-image calls and puts for a given security.
The goal is for the security’s price to either spike or plunge, giving the winning option a gain large enough to offset the loss on the losing option. Put another way, you’re betting against consolidation, where the asset just sits there. Put yet another way, you’re long action and short boredom.
To illustrate the point (and get in on the fun), I just bought “at the money” September puts and calls on SLV, the ETF that tracks the silver price. Here’s how they show up in my account:
SLV 09/30/2026 63.50 C SLV 09/30/2026 63.50 P
The premiums for each option were around $10, so silver must make a serious near-term move for this spread to deliver a substantial payoff. But it’s an extreme time for the metal, so it’s possible that we’ll see at least a modest profit (and maybe some excitement) in the year ahead.
If you’re new to options, consider this a low-risk way to familiarize yourself with the concept.
jAMES RICKARDS
2. MATHEW PIEPENBURG/VON GREYERZ
ALASDAIR MACLEOD..
3. CHRIS POWELL AND HIS GATA DISPATCHES
4. ANDREW MAGUIRE/LIVE FROM THE VAULT KINESIS / AND TODAY;S 253
OFF UNTIL JANUARY
5. COMMODITY REPORT//SILVER/SILVER LEASE RATES:/SILVER AI GENERATED.ACCURATE
LEASE RATES PRETTY MUCH UNCHANGED: COURTESY OF ROBERT LAMBOURNE:
Robert Lambourne
6:40 AM (2 hours ago)
to me
Thanks Harvey.
A quick update on the lease rates.
Rates in both gold and silver are reported to be broadly unchanged in London and Shanghai, but in London they are claimed to be up 30 to 40 basis points this week in silver. It’s now 4 consecutive weeks in London of above 7% in silver, so no signal for some time from lease rates that more physical is available. Shanghai silver lease rates remain over 6% so still signalling a lack of physical metal is available there too.
Gold rates maybe are not getting enough attention at 3.25%/4% in London and Shanghai because of silver and platinum being much higher. These are not high enough to claim there are big shortages, but high enough to say the market isn’t normal.
Time to be careful, I reckon, as silver could easily move quite a long way in the illiquid period coming up. It would seem to me to be crazy to try to suppress prices unless there is a big increase of refined bars ready to be deployed. But who knows?
Season’s Greetings to you and your family,
Bob
ASIA RESULTS; WEDNESDAY DEC 24
SHANGHAI CLOSED UP 20.97 POINTS OR 0.53%
//Hang Seng CLOSED UP 44.79 PTS OR 0.17%
// Nikkei CLOSED DOWN 44.79 PTS OR 0.17% //Australia’s all ordinaries CLOSED DOWN 0.26%
//Chinese yuan (ONSHORE) CLOSED UP TO 7.0131
/ OFFSHORE CLOSED UP AT 7.0936/ Oil UP TO 58.42 dollars per barrel for WTI and BRENT UP TO 62.40 Stocks in Europe OPENED ALL RED
ONSHORE USA/ YUAN TRADING UP TO 7.0135 OFFSHORE YUAN TRADING UP TO 7.0036:/ONSHORE YUAN TRADING BELOW OFF SHORE AND UP ON THE DOLLAR// / AND THUS STRONGER//OFF SHORE YUAN TRADING UP AGAINST US DOLLAR/ AND THUS STRONGER
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 UP AT 7.0135
OFFSHORE YUAN: UP TO 7.0036
HANG SENG CLOSED UP 44.79 PTS OR 0.17%
2. Nikkei closed DOWN 54.87 PTS OR 0.11%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX DOWN TO 97.50 /// EURO RISES TO 1.1797 UP 2 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +2.051 // DOWN 4 FULL BASIS PTS/ VERY TROUBLESOME//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 155.83…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE ENDING OF THE YEN CARRY TRADE AGAIN AND THE REPATRIATION OF YEN DENOMINATED BONDS TRADING IN THE USA/EUROPE. JAPAN 30 YR BOND YIELD: 3.418 DOWN 2 FULL BASIS PTS. AND STILL VERY TROUBLESOME
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP/JAPANESE Yen UP CHINESE ONSHORE YUAN: UP OFFSHORE: UP
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and UP FOR UP this morning
3h European bond buying continues to push yields LOWER on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.867/ Italian 10 Yr bond yield DOWN to 3.514 SPAIN 10 YR BOND YIELD DOWN TO 3.292
3i Greek 10 year bond yield UP TO 3.517
3j Gold at $4493.80 Silver at: 72.11 1 am est) SILVER NEXT RESISTANCE LEVEL AT $80.00
3k USA vs Russian rouble;// Russian rouble UP 0 AND 16/100 roubles/dollar; ROUBLE AT 78.16
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 155.91 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 2.034% STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE IS NOW UNWINDING//YEN BOND TRADING OVERSEAS REPATRIATED.//JAPAN 30 YR: 3.438 UP 1/3 BASIS PTS.
30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.7866 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9279 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.
USA 10 YR BOND YIELD: 4.151 DOWN 1 BASIS PTS…
USA 30 YR BOND YIELD: 4.823 DOWN 1 BASIS PTS/
USA 2 YR BOND YIELD: 3.525 DOWN 0 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 42.85 UP 2 BASIS PTS/LIRA GETTING KILLED
10 YR UK BOND YIELD: 4.5160 UP 1 PTS
30 YR UK BOND YIELD: 5.250 UP 1 BASIS PTS
10 YR CANADA BOND YIELD: 3.418 DOWN 6 BASIS PTS
5 YR CANADA BOND YIELD: 2.945 DOWN 4 BASIS PTS.
1a New York OPENING REPORT
Futures Flat With Early Close On Deck
Wednesday, Dec 24, 2025 – 08:29 AM
And there it is: the Santa Rally which we predicted would begin a week ago after Abu Dhabi removed much of the AI capex fears festering the OpenAI ecosystem, the S&P has rocketed to a new record high on Tuesday, with stocks looking set for a quiet start to the abbreviated Christmas Eve session. As of 8:00am ET, S&P 500 futures and Nasdaq 100 contracts were little changed following four days of gains in US stocks which signal confidence among investors that 2026 will bring decent corporate earnings growth and easing inflation, not to mention the restart of the Fed’s QE Lite which has so far injected $40bn into the market. The result is relative calm in equities, with no down month since April and a VIX which is below 14. In premarket trading, Nike gained 2.1% after a filing shows that Apple CEO Tim Cook purchased $2.95 million worth of shares. Intel shares fall as much as 3.1% in premarket trading after Reuters reported that Nvidia halted a test that uses the chip manufacturer’s 18A technology to produce its chips, while a Commerce Department official said Intel is not “too strategic to fail.” Wednesday’s shortened cash trading session finishes at 1 p.m. ET. Most of the drama is playing out in commodities, with gold, silver and platinum all hitting fresh record highs. On today’s economic calendar we have the latest MBA Mortgage Applications (-5.0%) and the weekly Initial and continuing jobless claims.
In premarket trading, Mag 7 stocks trade mixed after four straight days of gains (Alphabet +0.5%, Tesla +0.2%, Amazon +0.1%, Microsoft little changed, Apple -0.2%, Meta -0.3%, Nvidia -0.4%)
AST SpaceMobile Inc. (ASTS) is up 2.7% after launching its largest-ever satellite from India, the first in a series of deployments to help the company compete against Elon Musk’s SpaceX in delivering space-based connectivity to mobile phones.
Dynavax (DVAX) jumps 38% after Sanofi says it will start a cash tender offer to acquire all outstanding shares of the vaccine maker for $15.50 per share in cash, reflecting a total equity value of ~$2.2 billion.
Intel (INTC) falls 3.2% after Reuters reported that Nvidia halted a test that uses the chip manufacturer’s 18A technology to produce its chips.
Nike (NKE) gains 2.1% after a filing shows that Apple CEO Tim Cook purchased $2.95 million worth of shares on Dec. 22.
Ramaco (METC) is up 7.7% after the coal mining company announced a share repurchase program of up to $100 million of the currently outstanding shares of its Class A common stock.
In other corporate news, Sanofi agreed to buy Dynavax Technologies for about $2.2 billion, as the French drugmaker tries to expand a vaccines business currently anchored by its flu shot franchise. Emeryville, California-based Dynavax soared 38% in premarket.
Investors are drawing optimism from a US economy that continues to outperform expectations, supporting earnings prospects in the year ahead. At the same time, money markets still see scope for at least two Federal Reserve rate cuts in 2026, a backdrop that could lift a broader range of stocks even as valuation concerns linger around pace-setting tech shares.
“Recent sessions suggest Santa may still arrive,” wrote Ipek Ozkardeskaya, analyst at Swissquote. After that “reality may bite. Parts of the technology market probably look bubbly, and next year’s earnings season will be less about shiny numbers and more about where revenues actually come from.”
In commodities action, precious metals hit more record highs, buoyed by geopolitical concerns and expectations for more interest-rate cuts in 2026. Gold touches $4,500 an ounce for the first time, while silver and platinum also surge to all-time highs. The moves put gold and silver on track for their best yearly gains since 1979. Copper is also at a new record around $12,200 a ton, and is set for its biggest annual rise since 2009
Gold has climbed more than 70% this year and silver is up about 150%, putting both on track for their strongest performance since 1979. The gains have been underpinned by elevated central-bank purchases, the return of Fed QE and huge inflows into exchange-traded funds. Momentum was also boosted by President Donald Trump’s push to reshape global trade and his threats to the Fed’s independence.
“Even though equity markets are doing well, even though data points to a bit of a risk-on environment, I do think that, on the margins, that people want to be defensive against inflation and other risks as much as possible,” Geoff Yu, EMEA macro strategist at BNY, told Bloomberg TV. “Hence, gold is doing well.”
With most European markets either closed or on a half-day, the Stoxx 600 equity index is little changed after nothing a fresh record high Tuesday and is set for a third straight year of gains. The benchmark is also on track for one of its strongest quarters in two years amid lingering optimism around global economic growth and lower borrowing costs. France’s CAC 40 Index gained 0.1% and the UK’s FTSE 100 was down 0.2% as of 9:09 a.m. in London. Stock exchanges in Germany, Italy, Denmark, Switzerland and Finland are shut through the day. The UK, France and Spain will be open for half-day of trading.
Ipek Ozkardeskaya, senior analyst at Swissquote, said stocks are still likely to rally in the final days of the year. “And after that? Reality may bite. Parts of the technology market probably look bubbly, and next year’s earnings season will be less about shiny numbers and more about where revenues actually come from.”
Among individual movers, Sanofi SA dipped after the French drugmaker said the US Food and Drug Administration has issued a complete response letter for its experimental multiple sclerosis drug. The French pharmaceutical firm also agreed to buy Dynavax Technologies for about $2.2 billion. BP Plc edged higher after agreeing to sell a majority stake in its Castrol division to US investment firm Stonepeak Partners in a deal valuing the business at $10.1 billion including debt.
Asian stocks eked out a small gain, as losses in Japan and South Korea were offset by gains in China and Vietnam. The MSCI Asia Pacific Index rose as much as 0.4% before paring slightly, on course to cap its fourth day of gains. Tech names including TSMC, SK Hynix and Advantest led the rise.
In FX, the dollar fell for a third day, extending its decline for the year to 8.4% and marking the greenback’s biggest annual slide since 2017.The Bloomberg Dollar Spot Index fell 0.2%, adding to its 0.3% slip on Tuesday; USD/JPY dropped 0.4% to 155.84. The pair has been under pressure on increasing concerns about that Japan may intervene to support the yen
In rates, gilts reverse an early decline, and yields are now little changed, while other European bond markets are closed. US yields richer by up to 1bp across the curve in a flattening move, tightening 2s7s and 7s30s spreads a touch on the day. Treasury 10-year yields trade around 4.155%, richer by 0.8bp on the day with gilts lagging in the sector. Treasury is selling $44 billion 7-year notes at 11:30 am New York. Ahead of today’s sale, the WI 7-year yield is about 3.934% which is ~15bp cheaper than the November stop-out of 3.781%
In commodities, precious metals hit more record highs, buoyed by geopolitical concerns and expectations for more interest-rate cuts in 2026. Gold touches $4,500 an ounce for the first time, while silver and platinum also surge to all-time highs. The moves put gold and silver on track for their best yearly gains since 1979. Copper is also at a new record around $12,200 a ton, and is set for its biggest annual rise since 2009. Oil prices are edging higher, with Brent trading around $62.50/barrel.
The US economic calendar includes weekly jobless claims at 8:30 am.
Market Snapshot
S&P 500 mini little changed
Nasdaq 100 mini little changed
Russell 2000 mini little changed
Stoxx Europe 600 little changed
CAC 40 +0.1%
10-year Treasury yield little changed at 4.16%
VIX +0.1 points at 14.13
Bloomberg Dollar Index -0.2% at 1199.44
euro little changed at $1.1798
WTI crude +0.2% at $58.52/barrel
Top Overnight News
American Economy Keeps Powering Ahead, Defying Dire Predictions: WSJ
Trump posted “Growth is up and Inflation is down in President Trump’s first year”.
NEC Director Kevin Hassett said President Trump has “a bunch of great Fed chair candidates”, via Fox Business; Precious metals are skyrocketing for good reason.
Gold tops $4500 while silver, platinum surge to new peaks: RTRS
China Is Worried AI Threatens Party Rule—and Is Trying to Tame It: WSJ
Russia to Demand Changes to US Peace Plan Seen as Starting Point: BBG
Ukrainian troops withdraw from eastern town of Siversk: RTRS
Zelenskiy seeks meeting with Trump to hammer out issue of territory: RTRS
Two police officers killed by bomb in Moscow near site of Russian general’s killing: RTRS
Russia plans a nuclear power plant on the moon within a decade: RTRS
Italy Orders Meta to Allow Competing AI Chatbots on Whatsapp: BBG
Snowflake is reportedly in talks to purchase Observe for around USD 1bln, according to The Information.
Apple CEO bought some USD 3mln of Nike stock: BBG
Sanofi to acquire hepatitis B vaccine maker Dynavax for $2.2 billion: RTRS
BP to sell 65% stake in Castrol to Stonepeak for $6 billion: RTRS
Lockheed Martin awarded USD 10bln modification to previously awarded US Air Force contract: Pentagon
Boeing awarded USD 2bln contract by US Air Force: Pentagon
Whoever Trump Picks, the Next Fed Chair Won’t Be Independent: WSJ
Trade/Tariffs
Chinese Commerce Ministry holds roundtable with foreign trade firms.
China’s Foreign Ministry said we firmly opposes the indiscriminate use of chip tariffs and unreasonable suppression of China by the US. Urges the US to correct its wrong practices. Will take corresponding measures to safeguard rights and interests if the US persists.
Japan and US agree to expedite the USD 550bln investment project, according to Bloomberg, citing a statement.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks traded mixed and within narrow ranges following a largely positive lead from Wall Street. APAC lacked conviction amid light newsflow and anaemic volumes as markets wound down ahead of the holidays. ASX 200 edged lower, with weakness in Tech and Healthcare outweighing strength across the mining complex. Nikkei 225 held onto modest gains, oscillating around the 50.5k level despite JPY strength, supported by a calmer domestic bond market. Hang Seng and Shanghai Comp varied, with little in the way of fresh domestic catalysts. Price action broadly reflected the indecisive regional risk tone.
Top Asian News
Earthquake of magnitude 5.50 hits Taipei, via Reuters witnesses.
The FTSE 100 (-0.1%) is incrementally this morning, whilst the CAC 40 is posting marginal gains; cash trade for DAX 40, FTSE MIB and the SMI remain shut on account of Christmas Eve.
Top European News
Italy Orders Meta to Allow Competing AI Chatbots on Whatsapp
Belgium’s Central bank Says Will Appeal €300K FSMA Fine
BNP Paribas’ Farber Sees Value in Single B European Credit
Central Banks
BoJ Oct 29–30 meeting minutes (two meetings ago): Members agreed the BoJ will continue to raise rates if economic and price forecasts materialise. Many members said the likelihood of economic and price forecasts materialising has heightened, but must maintain policy to confirm whether positive wage-setting behaviour will not be disrupted. One member said the timing of a rate hike is approaching, but authorities should wait a bit longer to scrutinise the direction of the new administration’s policies.
FX
DXY is essentially flat and trades within a narrow 97.74 to 97.96 range. Nothing really driving things for the index this morning, given the usual holiday-lull. Traders will await Jobless Claims later today, but aside from that the docket is void of anything pertinent from a Dollar perspective. G10s are also broadly little changed vs the USD, aside from the JPY which is the marginal outperformer this morning.
JPY marginally strengthened against the USD in overnight trade, but without a specific catalyst. The strength likely a continuation of the more aggressive jawboning heard via Finance Minister Katayama earlier in the week, where she stated they had a “free hand” to take bold action in the FX market. Thereafter, in the European session, Reuters reported that Japan is to reduce its new issuance of super-long JGBs next fiscal year to around JPY 17tln. A source report which comes after PM Takaichi rejected any “irresponsible bond issuance or tax cuts”. USD/JPY currently trading at the lower end of a 155.57 to 156.28 range.
South Korean Presidential office said they are closely watching FX.
South Korea’s pension fund said to implement strategic foreign exchange hedging measures, according to Reuters sources.
Brazilian Central Bank to offer USD 2bln in Dollar auction with repurchase agreements on 26th December.
Fixed Income
EGBs closed.
JGBs were firmer for much of the overnight session but spent it drifting lower, paring recent Takaichi-inspired gains. The main move came in the European morning as Reuters reported that Japan is set to cut 2026 ultra-long JGB issuance by around JPY 17tln, a report that in a somewhat delayed reaction, lifted JGBs by around 20 ticks to a test of 133.00 to the upside. Reminder, BoJ’s Ueda is tentatively scheduled to speak on Christmas Day.
USTs in a thin 112-08 to 112-12+ band. Docket ahead features US weekly jobless claims and then a 7yr auction after the 5yr auction on Tuesday, a tap that was mixed overall with a better tail though the b/c was below the prior.
Gilts opened flat just above 91.00 before dipping to a 90.80 trough and then rebounding back to the figure with specifics light.
Japan is to reduce its new issuance of super-long JGBs next fiscal year to around JPY 17tln, according to Reuters sources. JGB Mar’26 lifted from 132.78 to a test of 133.00 to the upside in the 15-minutes from 09:10GMT following this report.
Commodities
As Christmas Eve trade gets underway, WTI and Brent briefly pulled back to USD 58.25/bbl and USD 62.22/bbl before extending on Tuesday’s gains to peak at USD 58.76/bbl and USD 62.76/bbl as the European session continues.
Spot XAU briefly extended above USD 4500/oz, continuing the gains made in the metal space this year, before a sharp pullback as traders take profit going into Christmas. XAU peaked at USD 4526/oz early in the APAC session before the sharp pullback to USD 4471/oz. Thus far, the yellow metal continues to hover just below USD 4500/oz as light European trade continues.
3M LME Copper is set for its best year since 2009, helped by the near 7% gains made in December. After setting a new ATH of USD 12.17k/t in Tuesday’s session, the red metal opened just shy of the ATH but pulled back to a trough of USD 12.06k/t, filling the price gap. Just as the European session got underway, 3M LME Copper surged higher to a new ATH of USD 12.28k/t and holds above USD 12.2k/t as the European morning continues.
Naftogaz announces that Russia attacked Ukraine’s oil and gas infrastructure overnight.
Shell’s (SHEL LN) manufacturing centre, Corunna, reported potential for increased flaring and noise for the next few hours due to process interruption.
Russia’s Kremlin announces that Special Envoy Dmitriev has reported to Putin on the trip to the US; On peace deal, says Russia will now formulate its position and continue contacts in very near future.
Naftogaz announces that Russia attacked Ukraine’s oil and gas infrastructure overnight.
Ukrainian President Zelensky said we are significantly closer to finalising a plan with the US but mainly split on territorial issues. Ukraine expects an answer from Russia on Wednesday to end the war. Draft plan opens the way for ‘potential’ demilitarised zones and freeze combat on current lines. Plan does not require Kyiv to formally renounce NATO bid.
Ukrainian drone attack sparks fire at industrial site in Russia’s Tula region, according to the regional governor.
Russian President Putin said Russia “reject Israel’s repeated violations of Syrian territory”, via Al Arabiya.
US Event Calendar
7:00 am: US Dec. MBA Mortgage Applications, prior -3.8%
8:30 am: US Dec. 20 Initial Jobless Claims, est. 223,000, prior 224,000
8:30 am: US Dec. 13 Continuing Claims, est. 1.9m, prior 1.9m
1b) European opening report
US equity futures trading flat going into the Christmas holidays – Newsquawk US Market Open
Wednesday, Dec 24, 2025 – 05:16 AM
Japan is to reduce its new issuance of super-long JGBs next fiscal year to around JPY 17tln, according to Reuters sources.
European equity futures are closed as Eurex observes the Christmas Eve holiday. US equity futures are very modestly lower in thin conditions.
DXY is flat, JPY is very mildly stronger continuing recent advances.
JGBs soft overnight but have been driven higher in recent trade, USTs flat.
Crude benchmarks are incrementally firmer, with spot gold also steady.
Looking ahead, highlights include US Jobless Claims (w/e 20 Dec), Supply from the US.
Note: The Newsquawk desk will run until 18:05GMT/13:05EST on Wednesday, 24th December. FOMC Minutes on 30th December 2025 will be covered. Normal service will resume at 0700GMT/02:00EST on Friday 2nd of January 2026 for the beginning of the European Session.
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
EQUITIES
The FTSE 100 (-0.1%) is incrementally this morning, whilst the CAC 40 is posting marginal gains; cash trade for DAX 40, FTSE MIB and the SMI remain shut on account of Christmas Eve.
US equities futures are slightly lower, with limited catalysts in quiet trade. Italy’s Competition Authority has ordered Meta (META) to suspend the terms excluding competing AI Chatbots from WhatsApp.
DXY is essentially flat and trades within a narrow 97.74 to 97.96 range. Nothing really driving things for the index this morning, given the usual holiday-lull. Traders will await Jobless Claims later today, but aside from that the docket is void of anything pertinent from a Dollar perspective. G10s are also broadly little changed vs the USD, aside from the JPY which is the marginal outperformer this morning.
JPY marginally strengthened against the USD in overnight trade, but without a specific catalyst. The strength likely a continuation of the more aggressive jawboning heard via Finance Minister Katayama earlier in the week, where she stated they had a “free hand” to take bold action in the FX market. Thereafter, in the European session, Reuters reported that Japan is to reduce its new issuance of super-long JGBs next fiscal year to around JPY 17tln. A source report which comes after PM Takaichi rejected any “irresponsible bond issuance or tax cuts”. USD/JPY currently trading at the lower end of a 155.57 to 156.28 range.
South Korean Presidential office said they are closely watching FX.
South Korea’s pension fund said to implement strategic foreign exchange hedging measures, according to Reuters sources.
Brazilian Central Bank to offer USD 2bln in Dollar auction with repurchase agreements on 26th December.
FIXED INCOME
EGBs closed.
JGBs were firmer for much of the overnight session but spent it drifting lower, paring recent Takaichi-inspired gains. The main move came in the European morning as Reuters reported that Japan is set to cut 2026 ultra-long JGB issuance by around JPY 17tln, a report that in a somewhat delayed reaction, lifted JGBs by around 20 ticks to a test of 133.00 to the upside. Reminder, BoJ’s Ueda is tentatively scheduled to speak on Christmas Day.
USTs in a thin 112-08 to 112-12+ band. Docket ahead features US weekly jobless claims and then a 7yr auction after the 5yr auction on Tuesday, a tap that was mixed overall with a better tail though the b/c was below the prior.
Gilts opened flat just above 91.00 before dipping to a 90.80 trough and then rebounding back to the figure with specifics light.
Japan is to reduce its new issuance of super-long JGBs next fiscal year to around JPY 17tln, according to Reuters sources. JGB Mar’26 lifted from 132.78 to a test of 133.00 to the upside in the 15-minutes from 09:10GMT following this report.
COMMODITIES
As Christmas Eve trade gets underway, WTI and Brent briefly pulled back to USD 58.25/bbl and USD 62.22/bbl before extending on Tuesday’s gains to peak at USD 58.76/bbl and USD 62.76/bbl as the European session continues.
Spot XAU briefly extended above USD 4500/oz, continuing the gains made in the metal space this year, before a sharp pullback as traders take profit going into Christmas. XAU peaked at USD 4526/oz early in the APAC session before the sharp pullback to USD 4471/oz. Thus far, the yellow metal continues to hover just below USD 4500/oz as light European trade continues.
3M LME Copper is set for its best year since 2009, helped by the near 7% gains made in December. After setting a new ATH of USD 12.17k/t in Tuesday’s session, the red metal opened just shy of the ATH but pulled back to a trough of USD 12.06k/t, filling the price gap. Just as the European session got underway, 3M LME Copper surged higher to a new ATH of USD 12.28k/t and holds above USD 12.2k/t as the European morning continues.
Naftogaz announces that Russia attacked Ukraine’s oil and gas infrastructure overnight.
Shell’s (SHEL LN) manufacturing centre, Corunna, reported potential for increased flaring and noise for the next few hours due to process interruption.
Chinese Commerce Ministry holds roundtable with foreign trade firms.
China’s Foreign Ministry said we firmly opposes the indiscriminate use of chip tariffs and unreasonable suppression of China by the US. Urges the US to correct its wrong practices. Will take corresponding measures to safeguard rights and interests if the US persists.
Japan and US agree to expedite the USD 550bln investment project, according to Bloomberg, citing a statement.
CENTRAL BANKS
BoJ Oct 29–30 meeting minutes (two meetings ago): Members agreed the BoJ will continue to raise rates if economic and price forecasts materialise. Many members said the likelihood of economic and price forecasts materialising has heightened, but must maintain policy to confirm whether positive wage-setting behaviour will not be disrupted. One member said the timing of a rate hike is approaching, but authorities should wait a bit longer to scrutinise the direction of the new administration’s policies.
NOTABLE US HEADLINES
US President Trump posted “Growth is up and Inflation is down in President Trump’s first year”.
US NEC Director Hassett said President Trump has “a bunch of great Fed chair candidates”, via Fox Business; Precious metals are skyrocketing for good reason.
NOTABLE US EQUITY HEADLINES
Italian Competition Authority has ordered Meta (META) to suspend the terms excluding competing AI Chatbots from WhatsApp. “Meta’s conduct appears to constitute an abuse, since it may limit production, market access or technical developments in the AI Chatbot services market, to the detriment of consumers. Moreover, while the investigation is ongoing, Meta’s conduct may cause serious and irreparable harm to competition in the affected market, undermining contestability.”.
Snowflake (SNOW) is reportedly in talks to purchase Observe for around USD 1bln, according to The Information.
Apple (AAPL) CEO reportedly bought some USD 3mln of Nike (NKE) stock, according to Barrons.
Lockheed Martin (LMT) awarded USD 10bln modification to previously awarded US Air Force contract, according to Pentagon.
Boeing (BA) awarded USD 2bln contract by US Air Force, according to Pentagon.
GEOPOLITICS
RUSSIA-UKRAINE
Russia’s Kremlin announces that Special Envoy Dmitriev has reported to Putin on the trip to the US; On peace deal, says Russia will now formulate its position and continue contacts in very near future.
Naftogaz announces that Russia attacked Ukraine’s oil and gas infrastructure overnight.
Ukrainian President Zelensky said we are significantly closer to finalising a plan with the US but mainly split on territorial issues. Ukraine expects an answer from Russia on Wednesday to end the war. Draft plan opens the way for ‘potential’ demilitarised zones and freeze combat on current lines. Plan does not require Kyiv to formally renounce NATO bid.
Ukrainian drone attack sparks fire at industrial site in Russia’s Tula region, according to the regional governor.
MIDDLE EAST
Russian President Putin said Russia “reject Israel’s repeated violations of Syrian territory”, via Al Arabiya.
CRYPTO
Bitcoin is a little lower and trades around USD 87k whilst Ethereum holds around USD 2.9k.
APAC TRADE
APAC stocks traded mixed and within narrow ranges following a largely positive lead from Wall Street. APAC lacked conviction amid light newsflow and anaemic volumes as markets wound down ahead of the holidays.
ASX 200 edged lower, with weakness in Tech and Healthcare outweighing strength across the mining complex.
Nikkei 225 held onto modest gains, oscillating around the 50.5k level despite JPY strength, supported by a calmer domestic bond market.
Hang Seng and Shanghai Comp varied, with little in the way of fresh domestic catalysts. Price action broadly reflected the indecisive regional risk tone.
NOTABLE APAC HEADLINES
Earthquake of magnitude 5.50 hits Taipei, via Reuters witnesses.
NOTABLE APAC DATA RECAP
Japanese Leading Index Final (Oct) 109.8 (Prelim. 110).
Korea (Republic of) Consumer Sentiment Ind (Dec) 109.9 (Prev. 112.4).
ic) Asian opening report
UK equity futures point to a flat open whilst Eurex futures close for the Christmas holidays – Newsquawk EU Market Open
Wednesday, Dec 24, 2025 – 01:13 AM
APAC stocks traded mixed and within narrow ranges following a largely positive lead from Wall Street. APAC lacked conviction amid light newsflow and anaemic volumes as markets wound down ahead of the holidays.
DXY was choppy, and JPY strengthened before trimming some gains. G10 FX largely moved with the USD.
Spot gold and silver both hit fresh all-time highs at above USD 4,500/oz and USD 72.70/bbl.
European equity futures are closed as Eurex observes the Christmas Eve holiday. UK equity futures point to a flat open, with FTSE 100 futures U/C after the cash market closed 0.2% higher on Tuesday.
Looking ahead, highlights include US Jobless Claims (w/e 20 Dec), Supply from the US.
Note: The Newsquawk desk will run until 18:05GMT/13:05EST on Wednesday, 24th December. FOMC Minutes on 30th December 2025 will be covered. Normal service will resume at 0700GMT/02:00EST on Friday 2nd of January 2026 for the beginning of the European Session.
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US TRADE
EQUITIES
US stocks largely closed higher after early losses triggered by a heavy slate of US data were gradually pared back through the session. Overall, newsflow was quiet heading into the close.
SPX +0.46% at 6,910, NDX +0.50% at 25,588, DJI +0.16% at 48, 442, RUT -0.69% at 2,541
US President Trump posted “Growth is up and Inflation is down in President Trump’s first year”.
US NEC Director Hassett said President Trump has “a bunch of great Fed chair candidates”, via Fox Business; Precious metals are skyrocketing for good reason.
US Treasury Secretary Bessent said large paychecks will accompany hiring in the months ahead.
US President Trump posted on Truth said “The Financial News today was great — GDP up 4.2% as opposed to the predicted 2.5%”; “…Want my new Fed Chairman to lower Interest Rates if the Market is doing well, not destroy the Market for no reason whatsoever..
NOTABLE US EQUITY HEADLINES
Snowflake (SNOW) is reportedly in talks to purchase Observe for around USD 1bln, according to The Information.
Apple (AAPL) CEO reportedly bought some USD 3mln of Nike (NKE) stock, according to Barrons.
Lockheed Martin (LMT) awarded USD 10bln modification to previously awarded US Air Force contract, according to Pentagon.
Boeing (BA) awarded USD 2bln contract by US Air Force, according to Pentagon.
TRADE/TARIFFS
Japan and US agree to expedite the USD 550bln investment project, according to Bloomberg, citing a statement.
USTR Greer said he is happy to have trade with China in non-sensitive areas.
France demands EU action to counter Chinese duties on dairy, via Bloomberg News.
APAC TRADE
EQUITIES
APAC stocks traded mixed and within narrow ranges following a largely positive lead from Wall Street. APAC lacked conviction amid light newsflow and anaemic volumes as markets wound down ahead of the holidays.
ASX 200 edged lower, with weakness in Tech and Healthcare outweighing strength across the mining complex.
Nikkei 225 held onto modest gains, oscillating around the 50.5k level despite JPY strength, supported by a calmer domestic bond market.
Hang Seng and Shanghai Comp varied, with little in the way of fresh domestic catalysts. Price action broadly reflected the indecisive regional risk tone.
US equity futures hovered on either side of the flatline, trading in tight ranges amid quiet overnight newsflow and holiday-thinned liquidity.
European equity futures are closed as Eurex observes the Christmas Eve holiday. UK equity futures point to a flat open, with FTSE 100 futures U/C after the cash market closed 0.2% higher on Tuesday.
FX
DXY was choppy and initially traded on a softer footing, extending the weakness seen through the week amid holiday-thinned liquidity ahead of Christmas. DXY slipped to 97.75, revisiting levels last seen in early October, before trimming losses back to flat levels. G10s as a result, reversed earlier gains.
EUR/USD benefited from the weaker dollar backdrop for most of the session, briefly pushing back above 1.1800 as G10 FX moved largely in tandem with the USD in quiet market conditions.
GBP/USD initially advanced alongside its G10 peers, with GBP/USD eventually breaking through resistance near 1.3520 before reversing towards 1.3500. Price action was primarily driven by the USD rather than idiosyncratic drivers.
USD/JPY underperformed amid JPY strength, driving USD/JPY below the prior day’s 155.65 low after starting the week near 157.71. The move followed renewed attention to Finance Minister Katayama’s earlier comments, alongside modest support from reports of Japan’s FY26 bond issuance plans and spillover effects from sudden KRW strength linked to South Korean pension FX hedging.
Antipodeans initially strengthened, led by AUD, which pushed above 0.6700. The move was underpinned by a rally in metals, with spot gold and LME copper both reaching fresh all-time highs, reinforcing AUD support in thin holiday trade.
PBoC set USD/CNY mid-point at 7.0471 vs exp. 7.0240 (Prev. 7.0523).
South Korea’s pension fund said to implement strategic foreign exchange hedging measures, according to Reuters sources.
Brazilian Central Bank to offer USD 2bln in Dollar auction with repurchase agreements on 26th December.
FIXED INCOME
10yr UST futures consolidated after the prior session’s whipsaw that saw yields initially rise on GDP data before gradually retracing. Subsequent macro newsflow remained light, keeping price action subdued.
10yr JGB futures held a modest upward bias for most of the session after PM Takaichi signalled a continued focus on Japan’s debt sustainability, explicitly rejecting what she described as irresponsible bond issuance and tax cuts.
Bund futures are closed as Eurex observes the Christmas Eve holiday.
US sold USD 28bln of 2-year FRNs; high-discount margin 0.139%. High Discount Margin: 0.139% (prev. 0.17%, six-auction average 0.18%). B/C: 3.75x (prev. 3.03x, six-auction average 3.11x). Dealer: 30.0% (prev. 33.75%, six-auction average 35.31%). Direct: 0.7% (prev. 0.71%, six-auction average 0.93%). Indirect: 69.3% (prev. 65.54%, six-auction average 63.77%).
US sold USD 70bln of 5-year notes; tails 0.1bps. Tail: 0.1bps (prev. 0.5bps, six-auction average 0.4bps); WI: 3.746%. High Yield: 3.747% (prev. 3.562%, six-auction average 3.747%). B/C: 2.35x (prev. 2.41x, six-auction average 2.36x). Dealer: 8.8% (prev. 11.0%, six-auction average 10.7%). Direct: 31.7% (prev. 27.6%, six-auction average 27.5%). Indirect: 59.5% (prev. 61.4%, six-auction average 61.8%).
US sold 6-wk bills at high rate 3.580%, B/C 2.87x; sold 1yr bills at high rate 3.380%, B/C 3.74x.
Treasury Buyback (10- to 30-year TIPS, max USD 500mln): Accepts USD 108mln of USD 1.19bln offers, accepts 4 out of 15 eligible issues; Offer to cover 11.02x.
COMMODITIES
Crude futures eventually tilted higher after the prior session’s gains, remaining underpinned by ongoing geopolitical tensions, supportive US GDP data and a softer dollar this week. Overnight macro newsflow for the complex was limited, keeping price action contained.
Spot gold extended its rally to fresh all-time highs, climbing through USD 4,500/oz to peak near USD 4,526/oz, up sharply from Monday’s USD 4,340/oz low. The advance was driven by persistent geopolitical risk and continued USD weakness.
Spot silver rose to a USD 72.70/oz peak (vs USD 67.33/oz low on Monday). From a fundamental perspective, precious metals continue to be fuelled by geopolitics and a softer dollar.
Copper futures remained firm, extending recent momentum amid a softer dollar. Three-month LME copper held comfortably above the USD 12,000/t level throughout the session.
Baker Hughes Rig Count: Oil +3 at 409, Nat Gas unch. at 127, Total +3 at 545.
CRYPTO
Bitcoin traded subdued within narrow ranges and dipped back under the USD 88,000 level.
CENTRAL BANKS
BoJ Oct 29–30 meeting minutes (two meetings ago): Members agreed the BoJ will continue to raise rates if economic and price forecasts materialise. Many members said the likelihood of economic and price forecasts materialising has heightened, but must maintain policy to confirm whether positive wage-setting behaviour will not be disrupted. One member said the timing of a rate hike is approaching, but authorities should wait a bit longer to scrutinise the direction of the new administration’s policies.
BoC Minutes (Dec): Agreed to remain cautious in interpreting data given recent volatility; felt it was hard to predict whether the next move would be a hike or a cut. Policy Outlook; Ahead of Bank of Canada’s Dec 10 rate announcement, Governing Council felt it was hard to predict whether next move would be a hike or a cut. Prepared to respond in case of a major new shock, or data showing economy and inflation diverging materially from outlook.
NOTABLE ASIA-PAC HEADLINES
South Korea to exempt capital gains taxes for retail investors selling overseas stocks to reinvest domestically; to increase tax benefits on corporate earnings repatriated from abroad; to offer tax benefits for retail investors hedging FX.
South Korea said FX markets will soon see the government’s strong determination, via Bloomberg.
South Korea to extend auto sales tax cut through June; to extend fuel tax cut through February, according to the Finance Ministry.
South Korea Presidential Policy Chief said authorities will take action to stabilise the exchange rate.
Japan to reportedly assume 3% rate on bond expenses in FY26 budget, according to Japanese press Yomiuri.
Japan to reportedly issue around JPY 29.6tln in new government bonds for its FY26 budget, according to NHK.
DATA RECAP
South Korean Consumer Sentiment Ind (Dec) 109.9 (Prev. 112.4).
Japanese Leading Index Final (Oct) 109.8 (Prelim. 110).
GEOPOLITICS
RUSSIA-UKRAINE
Unconfirmed explosions were reported in Moscow at the site where a general was killed two days ago.
Ukrainian drone attack sparks fire at industrial site in Russia’s Tula region, according to the regional governor.
MIDDLE EAST
Russian President Putin said Russia “reject Israel’s repeated violations of Syrian territory”, via Al Arabiya.
OTHERS
US Envoy to UN said US will impose and enforce sanctions to deprive Venezuela’s Maduro of resources to fund Cartel de Los Soles, including oil profits.
The US moved a large number of special-operations aircraft and multiple cargo planes filled with troops and equipment into the Caribbean area this week, giving the US additional options for possible military action in the region, via WSJ citing officials.
Venezuela assembly approves law allowing up to 20-year sentences for promoting piracy or blockades amid U.S. oil ship interceptions.
EU/UK
NOTABLE EUROPEAN EQUITY HEADLINES
BP (BP/ LN) reportedly nears sale of Castrol lubricants unit stake to Stonepeak at a USD 10bln valuation, according to the WSJ; BP set to receive around USD 6bln in proceeds from the sale of a 65% stake.
2.a NORTH AND SOUTH KOREA
SOUTH KOREA/USA
2b. JAPAN
3. CHINA/
4 EUROPEAN/NATO AFFAIRS/SCANDINAVIA
EU/APPLE
TRUMP WILL BE FURIOUS WITH THIS!!
Italy Slaps Apple With $116 Million Fine Over Double-Consent Requirement On Apps
Wednesday, Dec 24, 2025 – 02:45 AM
Italy’s version of the Federal Trade Commission fined Apple, Inc. nearly $116 million over what it says were overly-restrictive privacy rules that required third-party app developers to obtain user consent for data collection and tracking when it comes to delivering targeted advertising.
Italy’s watchdog authority – the AGCM, said on Monday that Apple and its subsidiaries abused its “super-dominant” market position by requiring said consumer protections.
The fine stems from a May 2023 joint investigation by the AGCM, European Commission, Italian Data Protection Authority (GPDP in Italian), and other national competition authorities into the restrictions from Apple’s App Tracking Transparency (ATT) framework.
AGCM claims that in April 2021, Apple began requiring app developers to obtain user consent in addition to previously existing consent requirements that had been granted through Apple’s own consent prompt. This double-consent requirement violates article 102 of the Treaty on the Functioning of the European Union.
“Third-party app developers are required to obtain specific consent for the collection and linking of data for advertising purposes through Apple’s ATT prompt,” said the AGCM. “However, such prompt does not meet privacy legislation requirements, forcing developers to double the consent request for the same purpose.”
As the Epoch Times notes further, in an executive summary of the investigation’s findings, the Italian Competition Authority of Rome lauded Apple’s efforts to safeguard user privacy within its operating system.
However, the GPDP said, making developers obtain double user consent was “excessive” and “burdensome” and ultimately led to a reduction of opt-in rates by users for data tracking on third-party apps. That action, in turn, hampered app developers’ ability to compete with Apple and deliver targeted advertising, which resulted in higher commissions paid to Apple by developers, as well as additional revenue through a higher volume of targeted ads.
“Given that user data are a key input for personalized online advertising—since higher-quality and larger volumes of data improve the ability to identify users who may be genuinely interested in the advertised product, service or app—the restrictions imposed by the ATT policy on the collection, linking and use of such data are capable of harming developers whose business model relies on the sale of advertising space, as well as advertisers and advertising intermediation platforms,” the AGCM wrote.
The Epoch Times requested comment from Apple regarding the investigation’s finding and fine by the AGCM, but did not receive a response by publication time.
Earlier this year, Apple was fined 500 million euros ($588 million) by the European Union for breaching the Digital Markets Act (DMA) and not informing customers of potential alternatives outside of its App Store. Meta was also fined 200 million euros ($235 million) for breaching the DMA by failing to provide customers with options on how much of their data is used. Apple and Meta are appealing those fines, which were levied in April.
Immigration & Sexual Violence – Nothing to See Here!
Britain is now the sort of country where you can get an instant answer to ‘What is the carbon footprint of a sausage roll?’. Yet if you ask, ‘Are we importing risk to women along with importing people?’ our nation state stares at its shoes and starts muttering about ‘complexity’.
Let us begin with two official lines that any half-awake citizen can see are rising at the same time.
Line one, sexual violence.
The ONS crime bulletin for the year ending June 2025 reports 211,225 sexual offences recorded by the police in England and Wales are up 9% from the previous year. It also reports 72,804 rape offences, up 6% year on year, with rape making up around 34% of all recorded sexual offences.
The ONS, to be fair, sticks in a big asterisk. Part of the rise is not a sudden outbreak of more predators. It is a change in the bookkeeping. That means some of what now shows up as an ‘increase’ is simply behaviour that was previously recorded differently, or not cleanly separated at all, now being captured under a new label. In short, not every uptick is more men doing worse things in dark alleys.
Fine. Caveat accepted. The numbers are still brutal.
Line two, immigration.
The ONS estimates long term immigration at 898,000 in the year ending June 2025. Of those, non-EU nationals accounted for 670,000, about 75% of the total. Net migration in that year is estimated at 204,000.
If you want proof mass migration has changed Britain, bin the pamphlets, the marches and the sermons. Just open the ONS, click twice, then stick the kettle on and watch the country redraw itself in numbers.
When you have done that, do not stop at the headline ‘flow’ figure, those who arrived this year. That is only the annual intake. The canary in the coal mine is the cumulative influx. The stock, who is here now, how large it has become, and what that does over time to social norms, policing demand, and risk. On that, the official trend is not subtle.
According to the ONS the foreign-born stock in England and Wales has risen almost 150% in 22 years. From 4.6 million residents born outside the UK in 2001, to 11.4 million in 2023. In that time the Commons Library, citing an ONS ad hoc estimate, shows the percentage has more than doubled from 8.9% to 19% of the population. That’s almost one in five. Of those roughly 8.0 million were born outside the EU, about 13% or one in eight.
That is not a marginal tweak, it is a demographic rewiring, delivered at motorway speed.
Even if net migration dips this year, the change does not politely stop at Passport Control. This is the ministerial dodge. Wave one year’s inflow figure, declare victory, move on. But if the mechanism is cumulative, a one-year wiggle tells you almost nothing about this year’s risk.
You can see the cumulative shift even in the baby name tables. Muhammad is now the top boys’ name in England and Wales, and it has been in the top ten since 2016.
More importantly, the engine is now domestic as well as imported. In 2023, 37.3% of live births in England and Wales were to parents where one or both were born outside the UK. On the mother only measure, births to non-UK born women rose from 31.8% in 2023 to 33.9% in 2024. That is the second-generation pipeline in plain numbers, large, growing, and largely indifferent to whatever headline flow figure ministers are waving around this week.
Put those lines next to the ONS crime line and you get a chart that reads like a warning label. The foreign-born share keeps rising. Recorded rape remains staggeringly high. And what once would have meant a ministerial resignation is now treated like a routine Tuesday briefing. Another awkward graph to be managed rather than a crisis to be answered.
That is correlation. It is not proof of causation, but it is not nothing either. If government wants the public to stop drawing conclusions, government needs to do the grown-up thing and test the hypothesis properly.
Instead, we get the dueling spreadsheets.
Here is the problem. We are arguing over scraps. Campaigners like Matt Goodwin point to FOI driven figures and claim foreign nationals, around 11% of the population, account for roughly 22% of rapes and 26% of sexual assaults. They ask why Britain will not publish this routinely. Meanwhile journalists like Fraser Nelson of The Times push back, arguing the ‘migrant crimewave’ story is overcooked, noting that violent crime is at multi decade lows, and even the headline MoJ claim that foreigners are convicted of up to 23% of sex crimes is disputed.
Which rather proves the point. When a country has to rely on complex FOI requests rather than publish one clear, repeatable annual bulletin, everyone ends up fighting with partial numbers and competing narratives. We have already seen where this ends with the grooming gangs’ scandal. Years of official denial and nervous statistical silence left unprotected and disbelieved girls to pay the price. It is exactly how we end up with pub verdicts and online lynch mobs.
We get endless official output on crime and immigration volumes. Charts, dashboards, glossy bulletins, the lot. Yet the moment you ask the state to connect them like adults. Who is offending? Where they were born? What their status was? How long they have been here etc? The information that actually matters to the public argument suddenly becomes curiously unavailable.
We can almost hear the civil service machine whirring.
If ministers published a clear annual table showing serious sexual offence charges and convictions by country of birth, nationality at time of offence, immigration status at time of offence, and time resident in the UK, one of two things would happen.
If the link is small or nonexistent, it would calm the debate and allow government to say, “Look, it is not that.”
If the link is meaningful in certain cohorts or settings, it would force government to do difficult things, such as tougher enforcement, tougher integration requirements and deportation where legally possible. All without hiding behind slogans.
Either way, proper measurement creates accountability. Shamefully, accountability is the one thing our politicians and the civil service we pay for avoids like an email from a Nigerian prince! (Before anyone faints, I can write that as I was born and raised there.)
This is not a statistical oversight. It is a political tradition. Inaugurated by Blair’s machine, refined by Campbell’s spin doctrine. Then inherited by every administration since like a family heirloom. Do not measure it properly. Do not publish it clearly and you can always claim the truth is ‘complex’.
Of course, the missing breakdown is not, by itself, proof of a criminal cover up. There are real problems. Patchy data, inconsistent force recording, privacy rules, shifting definitions, and plenty of scope for sloppy analysis. Fine. But a serious state fixes those problems. Our state uses them, year after year, as camouflage.
The outcome is clear. If you do not publish the table on immigration, demography and sexual violence, you cannot expect the public to trust your assurances. You create a vacuum and that vacuum fills with suspicion, anger, and increasingly nasty generalisations.
Meanwhile the same people who refused to publish the table hold a conference about ‘community cohesion’. It is like refusing to install smoke alarms and then complaining about the smell of smoke.
What a serious state would publish.
If the UK was run like a grown-up country, the Home Office and the Ministry of Justice would stop faffing about with glossy platitudes and publish one annual bulletin. One. Not twenty PDFs. Not a ministerial tweet thread. Not a seminar on ‘complexity’. A single checkable set of numbers that addresses, clearly and reproducibly:
For rape and serious sexual offences, charges and convictions by offender country of birth and nationality, with proper population denominators.
The same by immigration status at time of offence, including asylum route categories where relevant, with proper denominators.
Rates adjusted for age and sex structure, because young men drive most violent and sexual offending everywhere.
Regional breakdowns, because patterns are never uniform.
Clear caveats on reporting and recording, including the impact of new offence codes and counting rules, so the public is not misled.
Then, and only then, can we have the argument that politicians keep demanding we do not have. A transparent and constructive debate based on facts instead of vibes.
Until that happens, the public will continue to do what humans do. They will take the ONS crime trend, take the ONS migration trend, notice that Britain has undergone an enormous non-European inflow, notice that recorded rape remains staggeringly high, and draw their own conclusions.
The state can either measure the relationship properly, or it can keep pretending that refusing to measure it is ‘responsible’. One of those choices builds trust. The other builds resentment.
And resentment, unlike spreadsheets, does not stay missing for long.
END
UK
Greta Thunberg Arrested Under The UK’s Terrorism Act
Wednesday, Dec 24, 2025 – 06:55 AM
Climate activist Greta Thunberg has once again found herself in police custody after joining a demonstration outside the London offices of Aspen Insurance.
This British firm is a subsidiary of Elbit Systems, an Israeli defense contractor.
Authorities arrested Thunberg under the UK Terrorism Act for displaying a sign in support of Palestine Action, a group the British government has classified as a terrorist organization.
The arrest marks the latest chapter in Thunberg’s evolution from teenage climate crusader to an adult pro-Palestinian advocate.
According to the BBC, Thunberg, “was detained in the City of London after attending the scene of the early-morning demonstration on Fenchurch Street.”
In a video shared by the group, she could be seen holding a sign reading “I support the Palestine Action prisoners” and “I oppose genocide”.
City of London Police said a 22-year-old woman was arrested for displaying a placard in support of a proscribed organisation, in this case Palestine Action, contrary to Section 13 of the Terrorism Act 2000.
The force said officers were called to the area at about 07:00 GMT after hammers and red paint were used to damage a building.
A man and a woman were also arrested on suspicion of criminal damage after they “glued themselves nearby”, police said. Specialist officers worked to release them before taking them into custody.
Video footage circulating online captured the moment officers confronted Thunberg as she sat cross-legged on the sidewalk holding the offending sign. Thunberg refused to stand when instructed, and the officer then confiscated the sign.
Thunburg has consistently labeled Israel an “apartheid state” and characterized its war against Hamas as “genocide,” rhetoric that has placed her squarely within the more radical wing of the pro-Palestinian protest movement.
BREAKING: Greta Thunberg arrested under the Terrorism Act for holding a sign which says "I support Palestine Action prisoners. I oppose genocide"
She was detained at the Prisoners for Palestine action at Aspen Insurance in London, insurers for Israeli weapons firm Elbit Systems. pic.twitter.com/3qBt3iRi9e
The classification followed an incident at RAF Brize Norton, where activists reportedly damaged two military aircraft during an anti-Israel protest.
Home Secretary Yvette Cooper defended the move before Parliament, citing the group’s pattern of targeting defense industry sites and allegations of threatening behavior.
Official data reveals that of 1,886 terrorism-related arrests in the UK in the year ending September 2025, a staggering 1,630 were linked to support for the Palestinian Action, representing an 86% share of all terrorism arrests during that period. This was a huge shift from previous years when such arrests typically involved other forms of extremism.
The figures show a 660% surge in total terrorism arrests compared to last year, almost entirely driven by Palestine Action-related cases.
Most arrests occurred in the three months following the July ban, with 1,706 arrests recorded between July and September alone. However, only 17% of these arrests resulted in charges, a sharp decline from the 47% charge rate for terrorism-related arrests in 2024.
Thunberg’s involvement in the Palestinian cause stretches back several months and includes previous confrontations with Israeli authorities. She has been detained and deported by Israel twice after attempting to enter Gaza as part of her pro-Palestinian activities.
The night before her arrest at Aspen Insurance, Thunberg joined demonstrators who blocked Piccadilly Circus during a separate protest, according to video shared on social media.
Greta and her Islamic friends blocked Piccadilly Circus in London. Is Greta no longer concerned about climate change? pic.twitter.com/OQssJN2kp1
Because Palestine Action has been designated a terrorist organization under the Terrorism Act 2000, any form of support for the organization is a criminal offense that could carry prison sentences of up to 14 years. That includes membership in the group or public expressions of support.
5. RUSSIA AND MIDDLE EASTERN AFFAIRS
TBN ISRAEL/LAST 24 HR
ISRAEL VS HAMAS
Hamas publishes second ‘Our Narrative’ document two years after October 7 massacre
A previous version of Hamas’s manifesto, “Our Narrative: Operation Al-Aqsa Flood,” was spread online, and in some cases distributed on college campuses.
A Palestinian Hamas terrorist stands next to heavy machinery, after Hamas said that it found the body of an Israeli hostage soldier on Tuesday and prepares to return it to Israel through the Red Cross, in Gaza City, November 4, 2025.(photo credit: REUTERS/DAWOUD ABU ALKAS)ByJACOB LAZNIKDECEMBER 24, 2025 12:30Updated: DECEMBER 24, 2025 13:03
Hamas published a second document on the terror group’s version of the October 7 massacre, titled “Our Narrative… Al-Aqsa Flood: Two Years of Steadfastness and the Will for Liberation,” according to a statement released on the group’s official platforms on Wednesday.
The announcement comes more than two years after the October 7, 2023, invasion of Israel, which sparked the subsequent war in Gaza.
In the statement, Hamas described the October 7 attack, which it refers to as “Al-Aqsa Flood,” as more than a military operation, portraying it as a defining historical moment.
The document is divided into eight chapters addressing the motivations and context of the October 7 attack, the events of that day, and what the group described as an investigation into the assault.
Additional chapters focused on the course of the war in Gaza, what Hamas describes as its “diplomatic” activity, and the terror group’s priorities for the current stage of the war.
Demonstrators attend a pro-Palestinian protest on the day of the two-year anniversary of the attack on Israel by Hamas, in New York City, US, October 7, 2025. (credit: REUTERS/SHANNON STAPLETON)
The 42-page document reiterated Hamas’s political demands, including the establishment of a Palestinian state with Jerusalem as its capital and the return of Palestinian refugees.
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Hamas’s previous October 7 propaganda narrative document
The release follows an earlier Hamas narrative document published in early 2024, titled Our Narrative: Operation Al-Aqsa Flood, which presented the group’s version of events surrounding October 7 and the war in Gaza.
That document was circulated widely online and in print. It was reported to have been distributed on college campuses in the United States and Europe, where it appeared in student forums and protest settings.
The earlier publication drew attention for disputing or omitting widely documented accounts of attacks on Israeli civilians and for framing the assault in ideological and political terms. Hamas’s continued use of the term “Al-Aqsa Flood” reflects the same framing in the newly announced document.
The statement did not address specific allegations regarding civilian killings, sexual violence, or hostage-taking committed by Hamas during the October 7 assault.
OHAD MERLIN contributed to this report.
ISRAEL VS WEST BANK/SETTLERS
How Israel’s hilltop settlers coordinate attacks to expel Palestinians – analysis
Most of the world considers all Israel’s settlement activity in the West Bank illegal under international law relating to military occupations. Israel disputes this view.
A masked man prepares to hurl stones at Palestinians who had gathered for the annual olive harvest season, during an attack by Israeli settlers on the Palestinian village of Beita, south of Nablus in the West Bank, on October 10, 2025.(photo credit: JAAFAR ASHTIYEH/AFP via Getty Images)ByPESHA MAGID/REUTERSDECEMBER 24, 2025 13:25
The Jewish settler outpost of Or Meir is small. A handful of prefabricated white shelters, it sits at the end of a short dirt track on a hill leading up from Road 60, a major route that dissects the West Bank.
Over time, similar modest dwellings have turned into sprawling Israeli housing developments, part of a plan that members of Israel’s cabinet acknowledge they have implemented to prevent the birth of a Palestinian state.
The process can be violent. A Bedouin family told Reuters attackers who descended from Or Meir hurling Molotov cocktails drove them off Palestinian-owned land nearby last year. They fear they won’t ever be able to return.
Messages posted on Or Meir’s channel on the Telegram social media platform celebrate chasing out Bedouin herders and show the new settlers’ determination to secure lasting control over what they call “strategic” territory.
This year was one of the most violent on record for Israeli civilian attacks against Palestinians in the West Bank, according to United Nations data that shows more than 750 injuries and the rapid spread of outposts throughout land Palestinians hope will form the heart of a future state.
A masked man prepares to hurl stones at Palestinians who had gathered for the annual olive harvest season, during an attack by Israeli settlers on the Palestinian village of Beita, south of Nablus in the West Bank, on October 10, 2025. (credit: JAAFAR ASHTIYEH/AFP via Getty Images)
Israeli NGO Peace Now has recorded 80 outposts built in 2025, the most since the organization started its records in 1991. On December 21, Israel’s cabinet approved 19 more settlements, including former outposts. Finance Minister Bezalel Smotrich said the goal was to block Palestinian statehood.
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For decades, groups of settlers have built outposts on West Bank land without official authorization from the Israeli state. Israeli authorities in the West Bank sometimes demolish such camps but they often reappear, and in many cases end up being accepted by Israel as formal settlements. Smotrich has pushed efforts to formalize more outposts.
Most of the world considers all Israel’s settlement activity in the West Bank illegal under international law relating to military occupations. Israel disputes this view.
“Since establishing our presence on the land, we have driven away nine illegal Bedouin outposts, and returned 6,000 dunams to Jewish hands,” the account representing Or Meir’s settlers said in a post in September, using the dunam measurement equal to about 1,000 square meters, or a quarter of an acre.
Reuters could not independently confirm all the attacks on the Bedouins or determine who posted on behalf of Or Meir, which was established about two years ago. The settlers there declined to speak to the news agency.
In response to Reuters questions about intensifying settler violence in the West Bank, an Israeli official blamed a “fringe minority” and said Palestinian attacks against Israelis were underreported by the media. The Palestinian Authority did not respond to requests for comment.
Messages on the Or Meir Telegram channel, which is public, suggest a well-organized plan to take land, a finding supported by Reuters examination of a dozen other Telegram and WhatsApp groups representing similar groups, three interviews with settlers and pro-settler groups, and on-the-ground reporting around Or Meir and a new settlement.
“The evidence shows that this is a systematic pattern of violence,” said Milena Ansari, a researcher based in Jerusalem for Human Rights Watch whose work includes research on settlements in the West Bank.
The Bedouin Musabah family said they were attacked at night in June from the direction of Or Meir. Charred remains of their home and a barn were still visible to a Reuters team in December.
“We were living here, sitting in God’s safety,” said Bedouin shepherd Shahada Musabah, 39, now sheltering in the nearby Palestinian village of Deir Dibwan. “They started to set fire, and they destroyed everything. They didn’t leave us anything at all.”
In response to questions about the incident, Israel’s military told Reuters that dozens of Israeli civilians set fire to property in Deir Dibwan on the night in question. It said all suspects had left by the time security forces arrived. An official in the Deir Dibwan council told Reuters up to 60 settlers were involved, throwing stones and burning the Musabah house and other property, along with cars. Several villagers were injured by stones.
In a telephone call, Or Meir settler Elkanah Nachmani told Reuters reporters not to advance up the track to the outpost from Road 60 and not to make contact again.
Nachmani responded to a Reuters request for comment but did not address the issues raised by the questions. In the Telegram channel, Or Meir settlers accused Palestinians of poisoning their sheep in November 2024, an accusation the Musabah family denies.
Israeli monitoring group Yesh Din said of the hundreds of cases of settler violence it documented since October 7, 2023, only 2% resulted in indictments.
Reuters could not confirm the group’s findings. Israel’s police and military did not respond to requests for comment.
More than a thousand Palestinians were killed in the West Bank between October 7, 2023, and October 17, 2025, mostly in operations by security forces and some by settler violence, according to the UN In the same period, 57 Israelis were killed in Palestinian attacks.
Turning outposts into settlements
The Or Meir group has been open about its goals.
In November 2024, the Or Meir account posted that it aimed to settle “a strategic ridge near the settlement of Ofra” seeking to create “a continuous Jewish settlement presence.”
Dror Etkes, an Israeli peace activist, said other outposts served the same purpose, fracturing the West Bank and “limiting the possibility of Palestinians to be in these places.”
Despite the government’s actions to recognize dozens of previously irregular outposts, Israel’s military told Reuters in a statement that Or Meir “is illegal and has been evacuated several times by the security forces.” It did not provide specifics about why it considered the outpost illegal or why it was “evacuated” – the military’s word to describe closure or demolition of outposts in the West Bank.
After the most recent evacuation in March, Or Meir re-emerged with the help of over 100,000 shekels ($30,000) raised by donations, according to the settlement’s website. Reuters couldn’t independently confirm the donations.
The former outposts Israel has formalized as settlements over the years include ones previously evacuated by the army. Ofra, also on Road 60 just north of Or Meir, started as an outpost and is now a major housing development.
“Why do we continue?” asked a post by the Or Meir Telegram account in March after the evacuation. The post then answered its own question. “All breakthroughs in settlements were accomplished this way. At first, the state refused to accommodate any activity on the ground and fought it fiercely, but due to the persistence of the citizens, it eventually had to accept it.”
In December, Smotrich said 51,370 housing units had been approved for West Bank settlements since he became minister in late 2022, part of what the UN describes as the fastest expansion of settlements since its monitoring began in 2017. Smotrich’s office did not respond to a request for comment.
On September 30, the Oir Meir Telegram account published a map showing the location of the outpost. The map highlighted a large area with a blue boundary stretching to the edge of Deir Dibwan. The group said the marked area was under the control of their outpost.
At least four attacks on Palestinians have been reported within the blue boundary, according to the Deir Dibwan council, which said Palestinians could no longer access the area, including about 250 dunams belonging to the council itself.
The map also shows eight black markers, mostly within the blue boundary, listed as “abandoned Arab invasion outpost,” indicating places from which Bedouins had allegedly been ejected.
Road 505 to Jordan Valley
Road 60 is flanked by settlements. It is intersected by Road 505, running west-east toward the Jordan Valley and also lined with settlements, including Evyatar near the Palestinian town of Beita.
Evyatar began as a tented outpost in 2019. It was evacuated in 2021 but secured Israeli government recognition in 2024. Malkiel Barhai, Evyatar’s mayor, credited Smotrich for the approval.
Speaking in Evyatar with a pistol tucked into his trousers that he said was for protection, Barhai said the settlement was vital to keep Road 505 open “because we have Arab villages, hostile Arab villages, around.”
A member of the Beita municipality told Reuters that settlers from surrounding outposts or settlements, including Evyatar, killed 14 people in the area around Beita between 2021 and 2024. Reuters could not verify the deaths or who was responsible.
On November 8, Reuters witnessed an attack by settlers wielding sticks and clubs and hurling large rocks as Palestinians harvested olives close to Beita. Two Reuters employees, a journalist and a security adviser, were among those injured.
Barhai denied that settlers were behind the attacks and blamed Palestinians for the violence.
Samer Younes Ali Bani Shamsah, a farmer who lives near Evyatar and whose leg was broken in a settler attack, said he would not leave the land no matter the cost.
“This is my place, my home. Where would I go?” he asked. A hill over, another outpost stood, above a hill of olive trees.
US Ambassador to Israel Mike Huckabee said on Monday that Iran “didn’t get the full message” following the US airstrikes that targeted Iranian nuclear facilities in June, comments that came as Israel is pushing for the US to support another attack on the country.
“Iran, I don’t know if they ever took [President Trump] seriously until the night that the B-2 bombers went to Fordow,” Huckabee said in an interview with Israel’s Institute for National Security Studies, referring to one of the underground Iranian nuclear facilities bombed by the US.
“I hope they got the message, but apparently they didn’t get the full message because … they appear to be trying to reconstitute and find a new way to dig the hole deeper, secure it more,” Huckabee added, referring to reports that say there’s been activity at the bombed nuclear sites.
Huckabee made the comments when asked if the US would support another attack on Iran if Israel determined “further military action was necessary” based on Iran’s work on its civilian nuclear program and ballistic missile program.
According to a report from NBC News, Israeli Prime Minister Benjamin Netanyahu will ask President Trump to back another attack on Iran over Israeli concerns about Iran’s ballistic missiles, which were effective at striking Israeli territory during the 12-Day War.
“It’s hard for me to tell you what the US would do because that’s a policy decision that’ll be made at the White House,” Huckabee said. “All I can do is point to you what the president has said repeatedly, and he consistently has said Iran is never going to enrich uranium.”
Since the ceasefire that ended the US-Israeli war on Iran, President Trump has repeatedly threatened to bomb Iran again if it resumes enriching uranium. Earlier this month, he also suggested that he could “obliterate” Iran’s ballistic missiles. “We can knock out their missiles very quickly. We have great power,” Trump said.
For its part, Iran has said its uranium enrichment has been halted by the US bombing campaign, but it has vowed to restart the program, framing it as a matter of national pride, while maintaining its policy that it will never pursue a nuclear weapon.
Iran has also rejected the idea of entering a deal with the US that requires limits on its ballistic missile program since its missiles are its only way to deter Israel and the US.
END
SYRIA
Getting closer to civil war here in Syria
(the cradle)
Deadly Clashes Erupt Between US-Backed SDF & US-Backed Syrian Army In Aleppo
A new bout of deadly fighting has erupted between the US-backed Syrian Democratic Forces (SDF) and the Syrian military this week, coinciding with a top Turkish official’s visit to Syria and continued tension over a deal to integrate the Kurdish group into Damascus’s forces.
The clashes have calmed down, yet the situation remains volatile. Damascus claims it took steps to de-escalate the fighting. “The General Staff of the Syrian Arab Army issued an order to halt targeting of SDF fire sources in Aleppo after neutralizing several of them, narrowing the scope of clashes away from civilians,” the Syrian Defense Ministry said in a statement.
It said the army “stood up to its responsibilities in protecting and defending the people, without making any moves to alter control lines, limiting its actions to responding to sources of fire.”
Several people have been killed since early Monday morning. “The SDF carried out systematic attacks today in Aleppo, directly targeting densely populated residential neighborhoods and Al-Razi Hospital. The assaults resulted in the death of two civilians and injuries to others, including several civil defense volunteers,” the Syrian Interior Ministry announced late on Monday.
He described the escalation as “part of repeated attempts to undermine the 10 March agreement signed with the Syrian state.” The SDF has blamed the violence on the Syrian army.
“A checkpoint jointly manned by our forces and the [Damascus-affiliated] General Security Forces at the Al-Shihan roundabout in [northern] Aleppo came under an armed attack by factions affiliated with the interim defense ministry, leaving two of our personnel injured with varying degrees of wounds,” the SDF-affiliated Asayish security force said in a statement.
The SDF said in its own statement that the “attack carried out by factions affiliated with the defense ministry” is “a clear continuation of uncontrolled escalation that threatens the city’s security and civilian lives, and exposes the Damascus government’s inability to control its factions.”
The Kurdish group announced in a later update that the fighting had spread to the Kurdish-majority Aleppo neighborhoods of Ashrafieh and Sheikh Maqsoud. “Residents of the neighborhoods, along with the [Kurdish-led] Internal Security Forces [Asayish], continue to confront this aggression, taking all possible measures to protect themselves and civilian lives,” it said.
The Syrian Interior Ministry rejected the statement and said Kurdish forces stationed in the two neighborhoods were “treacherously” attacking Syrian positions at joint checkpoints run by both sides – in violation of “the agreements in place.”
Street clashes erupted between Syrian government forces and the Kurdish-led SDF in Aleppo, northwestern Syria. Two Syrian Internal Security personnel were wounded. The clashes come just days before the end of the March 10 agreement's deadline between Damascus and the SDF. pic.twitter.com/yPekjObExd
The clashes coincided with a visit to Syria by Turkish Foreign Minister Hakan Fidan. “We have not seen any initiative or serious will on the part of the Syrian Democratic Forces [SDF] to implement the 10 March [integration] agreement. There has been systematic stalling by the SDF regarding the agreement,” Fidan said during a press conference with his Syrian counterpart Asaad al-Shaibani.
“The Syrian Defense Ministry recently presented a simple proposal to positively advance the integration process. [The SDF] responded [to the proposal] yesterday, and its response is currently under review,” Fidan added.
The Turkish foreign minister had threatened the SDF days earlier, saying that Ankara wanted a peaceful, negotiated settlement to the integration issue but warned that the “SDF should understand the patience of the relevant actors is running out.” Fidan added: “We do not want to see any need to resort to military means again.”
The SDF and the Syrian government reached an agreement in March to integrate the Kurdish group into Damascus’s forces. However, the two sides have been in disagreement about the deal’s implementation – particularly the SDF’s wish to remain under Kurdish command and enter the army as a bloc rather than dissolve and conscript, as Syria is demanding. As a result, clashes have intermittently broken out between the two sides over the past several months.
Damascus and the SDF have repeatedly accused each other of obstructing the agreement. Last month, the SDF accused the Syrian army and state-sponsored militias of facilitating the ISIS drone attacks on its positions.
The new proposal put forward by Damascus reportedly calls for incorporating the SDF’s roughly 50,000 fighters into Syrian security forces as three intact divisions and smaller brigades, rather than incorporating them as individuals – as the government previously demanded.
🇸🇾 – DEVELOPING: Syrian Army tanks open fire on SDF forces in Aleppo on live TV. The SDF, who were backed by the U.S. in the fight to defeat ISIS, were supposed to join the new Syrian national army led by Jolani, under a peace deal. That agreement has failed, and now heavy… pic.twitter.com/hWzyYNZbv8
In exchange, the SDF would be required to give up some chains of command and allow Syrian army units to operate under what is now SDF territory in Syria’s oil-rich northern and eastern regions.
After the collapse of former Syrian president Bashar al-Assad’s government last year, the Hayat Tahrir al-Sham-led (HTS) Syrian Defense Ministry incorporated numerous extremist factions into its ranks – including those that once made up Turkiye’s Syrian National Army (SNA) proxy.
As a result, the new Syrian army is made up predominantly of ISIS and Al-Qaeda-linked factions with a long history of persecuting Kurds and other minorities.
The Turkish army has occupied Syria since 2016 and has carried out several major military operations against the SDF over the past decade. The US-backed Kurdish group is closely linked to Ankara’s sworn foe, the Kurdistan Workers Party (PKK), which entered into a historic peace process with Turkiye this year.
END
TORONTO
Antisemitic ISIS-tied rape, kidnapping plot conspirator on bail as Toronto Jews questions safety
Azizov was released on bail under court-imposed conditions after being charged in August with 19 different offenses related to kidnapping, sexual assault, firearms, and conspiracy.
Image of accused, Osman Azizov, 18(photo credit: Toronto Police Service)ByMICHAEL STARRDECEMBER 24, 2025 10:31
One of the alleged Toronto area conspirators of an ISIS-linked group accused of seeking to kidnap, take hostage, and sexually assault Jews and women was placed on bail after his arrest, and another suspect had already been on probation before being arrested for kidnapping attempts, and later given bail before being arrested for terrorism offenses in November.
Toronto resident Osman Azizov was released on bail under court-imposed conditions after being charged in August with 19 different offenses related to kidnapping, sexual assault, firearms, and conspiracy.
Azizov was one of three men who the Toronto Police Service and Royal Canadian Mounted Police said on Friday were motivated in part by “hate-motivated extremism” when they allegedly attempted to target “women and members of the Jewish community.”
Armed with a handgun and a knife, the three masked suspects allegedly approached a woman in Toronto on May 31 and attempted to force her into a vehicle. The women resisted and screamed, and the suspects fled when the kidnapping attempt was interrupted by a passing motorist.
In a June 24 incident, two women were approached by the masked suspects armed with a handgun, rifle, and knife in Mississauga. According to Peel Regional Police, they chased their victims and attempted to grab them, but again fled when a passerby intervened.
Waleed Khan, 26, Osman Azizov, 18, and Fahad Sadaat, 19. (credit: Royal Canadian Mounted Police)
According to their charges, they may have been impersonating police officers when allegedly attempting to kidnap their victims for hostage and sexual assault purposes.
26-year-old Waleed Khan was arrested by the Peel police on August 18, and a search of his residence found a prohibited AR-style semi-automatic rifle and a prohibited pistol with high-capacity magazines. Azizov and 19-year-old Fahad Sadaat were identified and arrested between August 26 and 28.
Khan had been on probation for prior violent offenses
Khan had been on probation for prior violent offenses at the time of his arrest and had been prohibited from possessing firearms. In addition to the litany of firearm, conspiracy, and kidnapping charges, he was charged with failing to comply with probation and breach of probation order.
After his August arrest, he was released with an ankle monitor before he was arrested for terrorism charges in November.
The RCMP announced on Friday that Khan was arrested and charged with providing materials to ISIS, providing property to be used for terrorist activity, receiving and acting on instructions from the terrorist group, facilitating terrorist activity, and involvement in a conspiracy to commit murder at the direction of a terrorist group.
Many of the details of the case are still unavailable, such as how the terrorism charges may be connected, and law enforcement has used ambiguous wording about some of the actions and targets.
“What began as armed, coordinated attempts to kidnap women led to significant arrests and charges, stopping a dangerous escalation of hate-motivated crimes and terrorism across the Greater Toronto Area and beyond,” Peel Regional Police Chief Nishan Duraiappah said in a statement.
Yet while Canadian Jewish community groups expressed relief and gratitude in response to the arrests, Azizov’s release on bail has alarmed them at a time when the community has been concerned about authorities’ general approach to security.
“Canadians should be alarmed by reports that an individual accused of attempting to kidnap women and who has close ties to a known associate of the Islamic State was released back into our communities,” the Centre for Israel and Jewish Affairs said on X on Tuesday. “This is not only a question of confidence in the justice system – it is a matter of public safety and national security. We urge our leaders to take urgent action, including bail reform, to protect Canadians.”
Calgary MP Michelle Rempel Garner mocked on social media that the ruling Liberal Party opted for “catch and release” allowing Khan to be on probation when he attempted kidnappings, instead of locking “him away for life” as desired by “literally everyone.”
The community’s concern of disconnect between general security and individual cases was further highlighted when the Toronto Police said, the same day as it announced informaiton about the kidnapping group, that there were “no known threats to Toronto’s Jewish community” and it was “actively monitoring, working with our partners, and increasing our presence where needed, to ensure community safety.”
The police post on social media was poorly received, with the Tafsik organization noting that they had just “arrested an ISIS member.” Others attacked the TPS for making the statement when Azizov was out on bail.
The Toronto Police had to issue a follow-up statement on Saturday, assuring that it knew that “safety concerns are real and understandable and announcements like yesterday’s can raise heightened concerns, particularly for Toronto’s Jewish community.”
Some of the Toronto Jewish community’s ire was connected to the weekly protests in Jewish neighborhoods, which locals have asserted is intimidation and harassment.
Also on Friday, York Centre MP Roman Baber sent a letter to TPS Chief Myron Demkiw and Toronto Mayor Olivia Chow complaining that weekly Sunday anti-Israel protests in the Bathurst and Sheppard area were antagonizing residents.
He asserted that activists in Toronto were using terms like “Intifada” and “resistance by any means necessary” in chants, which were incitements to violence.
“They are not peaceful protests since they include threats and disturb the peace in a residential neighborhood,” said Baber, demanding action about the neighborhood protests. “Incursions into predominantly Jewish neighborhoods, including the march on Sheppard Avenue West, instill fear and intimidation. They deprive local residents and businesses of enjoyment of property.”
END
RUSSIA VS UKRAINE
Tulsi’s Assessment That Putin Doesn’t Want To Conquer All Of Ukraine Is Absolutely Correct
There are logical military and strategic reasons why he’s not interested in this whatsoever at all…
Director of National Intelligence Tulsi Gabbard responded to a report from Reuters alleging that “Putin has not abandoned his aims of capturing all of Ukraine and reclaiming parts of Europe that belonged to the former Soviet empire”.
Tulsi condemned that as a “lie” to undermine Trump’s peace efforts and thus risk a possible hot Russian-US war.
She also claimed that “Russia’s battlefield performance indicates it does not currently have the capability to conquer and occupy all of Ukraine, let alone Europe.”
Her assessment is absolutely correct for the reasons that’ll now be explained.
For starters, Putin authorized the special operation after diplomacy failed to neutralize Ukrainian-emanating threats from NATO, ergo why Russia was compelled to resort to force.
Unprecedented support from NATO led to the aforesaid “war of attrition” and resultant stalemate along large parts of the front for protracted periods of time.
Even if Russia achieves a long-awaited breakthrough across the front, whatever territory it steamrolls into beyond that of the four disputed regions would likely only be for leverage for coercing Ukraine into complying with more of Putin’s demands for peace in exchange for withdrawing from there. Expanding Russia’s territorial claims through the holding of referenda in new regions would require controlling a significant amount of their land with an equally significant amount of people still there to participate.
Neither can be taken for granted, especially that locals won’t flee as refugees either deeper into Ukraine or across the front lines into Russia, hence the unreliability of this scenario. The strategic consequences could also be disproportionately severe if this ever unfolds since Trump could be provoked into escalating US involvement in the conflict after feeling like Putin disrespected him by doing this amidst their peace talks or possibly even manipulated him by supposedly only participating in them to buy time.
Trump has slammed Biden for the US’ complete loss of Afghanistan so he’s unlikely to let Putin conquer all of Ukraine in the political fantasy that this one day becomes possible. An escalation of US involvement in response could see it approve NATO allies’ entrance into Ukraine for drawing a “red line” as far east as possible and threaten direct “retaliation” against Russia if those forces are attacked en route. Putin has done his utmost to avoid World War III up until this point so he’s unlikely to suddenly risk it in that event.
There’s also the threat of a terrorist insurgency all across Western Ukraine if Russian forces ever reach that far, which could be costly for the Kremlin in terms of lives, treasure, and opportunities, something that Putin would likely seek to avoid as well. Bearing all this in mind, from the military difficulties to the disproportionately severe strategic consequences of claiming territory beyond the disputed regions, Tulsi is therefore absolutely correct in assessing that Putin doesn’t want to conquer all of Ukraine.
END
RUSSIA/UKRAINE
Russia Captures Another Ukrainian Town While Zelensky Still Insists On Altering Trump Peace Plan
Wednesday, Dec 24, 2025 – 03:30 PM
Russian forces continue their steady battlefield gains this week, but Kiev is still seeking to grasp at establishing some sort of leverage at the negotiating table, as the Trump peace plan is still being pushed in back-and-forth US dialogue with Moscow representatives.
Over the past some 24 hours, Russian troops have captured the settlement of Zarechnoye in the southeast Zaporozhye Region, according to the defense ministry (MoD). “Battlegroup East units kept advancing deep into the enemy’s defenses and liberated the settlement of Zarechnoye in the Zaporozhye Region,” the MoD said Wednesday according to TASS.
The military further issued a grim figure, claiming that the Ukrainian army lost over 1,400 troops in a single day across all front line areas. Additional armor and combat vehicles were also reportedly destroyed.
After weeks ago Ukraine finally lost the strategic logistics hub of Pokrovsk, it’s been setback after setback for Kiev from there. The pace of Russia’s advance has only steadily increased. Reuters conveys Ukraine’s response, which seeks to frame it as a strategic retreat:
Ukrainian forces have pulled out of the embattled eastern town of Siversk, Kyiv’s military said on Tuesday, as Russian troops wage a battlefield offensive aimed at threatening key cities critical to Ukraine’s defences in the east. Sloviansk is a northern anchor of the so-called “fortress belt” of cities in Ukraine’s heavily industrialised Donbas region, which Russia has demanded Kyiv cede before it ends its war. “The invaders were able to advance due to a significant numerical advantage and constant pressure from small assault groups in difficult weather conditions,” Ukraine’s General Staff said in a statement. It said it had withdrawn soldiers to preserve lives and resources, adding that they had, however, inflicted heavy losses on the enemy.
And yet, President Volodymyr Zelensky is still pressing for a fresh meeting with President Donald Trump to discuss “sensitive issues” – given Washington and Moscow seem closer than ever to reaching common understanding on the peace deal, after the Miami meetings.
Zelensky has laid out that territorial control of Ukraine’s eastern industrial heartland remains unresolved. The US plan hinges on Ukraine giving up territory, specifically in the east where its forces are clearly on the backfoot.
“We are ready for a meeting with the United States at the leaders’ level to address sensitive issues. Matters such as territorial questions must be discussed at the leaders’ level,” said Zelensky in comments released by his office on Wednesday.
Russia is currently reviewing the latest draft from the US side, after marathon talks in Florida, and a response is soon expected from President Putin.
Below is how Russian media presents Ukraine’s current attempts to modify the Trump plan, providing insights into the main disagreements:
Zelensky disclosed the details during a briefing with journalists on Wednesday, claiming the draft largely reflects a joint Ukrainian-American position, while several key issues remain unresolved.
Among the most contentious provisions is the proposal regarding the Zaporozhye Nuclear Power Plant (ZNPP), which is currently fully controlled by Russian forces. Kiev wants the plant to be jointly operated by Ukraine and the US on a 50-50 basis instead of Washington’s proposed trilateral management involving Russia.
The territorial issue, described as the most difficult, would also place the burden of concessions on Russia despite its vast military gains. One option outlined in the plan would require Russian forces to withdraw from Ukraine’s Kharkov, Dnepropetrovsk, Sumy, and Nikolayev regions, while freezing the conflict along current front lines in Russia’s Donetsk, Lugansk, Zaporozhye, and Kherson regions.
And there’s also this point of contention, per the same report: “Provisions previously linked to Russian language rights and the Ukrainian Orthodox Church have been replaced with broadly worded commitments to educational programs promoting tolerance and anti-racism.”
Kiev still insists on a mere freezing of the front lines, and not a permanent political settlement of the eastern territories’ status. Zelensky has proposed that troops “remain where we are”.
The Kremlin’s demands for territory actually includes areas where some Ukrainian forces are still present. Putin has warned that this either gets settled at the negotiating table or on the battlefield, and has rejected any short-term ‘freeze’ which won’t ultimately solve the crisis.
FROM ROBERT H TO US
From the corrupt dwarf calked Zelensky
Clearly written by his handlers and dead on arrival as it is completely delusional in content. NATO wants war to justify its’ existence. Without a bogeyman in Russia it has NO purpose.
While we enjoy this festive holiday, we should not be surprised that a wider conflict evolves in 2026.
Metals should jump when wider hostility breaks out.
Here is the 20-point plan discussed with US:
“Point 1: Ukraine’s sovereignty will be reaffirmed. We affirm that Ukraine is a sovereign state and all signatories to the agreement confirm this with their signatures.
Point 2: This document constitutes a complete and unconditional non-aggression agreement between Russia and Ukraine. It states that, to sustain long-term peace, a monitoring mechanism will be established to oversee the line of contact using space-based unmanned surveillance, provide early warning of violations and resolve conflicts.
Point 3: Ukraine will receive robust security guarantees.
Point 4: The size of the Armed Forces of Ukraine will remain at 800,000 in peacetime.
Point 5: The US, NATO and European signatory states will provide Ukraine with security guarantees that mirror NATO’s Article 5.
If the Russian Federation attacks Ukraine again, in addition to a coordinated military response, all global sanctions against Russia will be reinstated.
If Ukraine invades the territory of the Russian Federation or, without provocation, opens fire on Russian territory, the guarantees will be deemed null and void. If, however, the Russian Federation opens fire on Ukraine, the guarantees will take effect.
The issue of US compensation for the guarantees provided was mentioned separately, but Zelenskyy said this subparagraph has been removed because the Ukrainian side does not understand what exactly is meant by it.
The agreement does not cancel Ukraine’s bilateral security arrangements with other states (this refers to possible agreements with countries who are part of the Coalition of the Willing and with partners outside Europe).
Point 6: Russia will enshrine a policy of non-aggression towards Europe and Ukraine in all necessary laws and ratification documents, including ratification by an overwhelming majority in the State Duma [the lower house of the Russian parliament – ed.]. (marked as a US proposal).
Point 7: The plan provides for Ukraine’s accession to the EU within a defined timeframe and for temporary preferential access to the European market. However, specific dates for membership remain subject to separate discussions and, as noted, still require confirmation from the European side.
Point 8: A “development package” for Ukraine is to be agreed, to be formalized in a separate investment agreement on future prosperity. This includes:
the creation of a development fund for investment in fast-growing sectors (technology, data centers, AI)
cooperation between the US and American companies with Ukraine in the rebuilding, modernization and operation of gas infrastructure
the rebuilding and rehabilitation of affected territories, cities and residential neighborhoods
the development of infrastructure
the extraction of minerals and natural resources
the preparation by the World Bank of a special financing package
the creation of a high-level working group and the appointment of a “prosperity” administrator/coordinator to implement the recovery plan.
Point 9: Several funds will be established to address the recovery of Ukraine’s economy, the reconstruction of damaged districts and oblasts and humanitarian needs. The aim will be to raise US$800 billion through share capital, grants, bonds and private sector contributions.
The US and European countries should establish a capital and grant fund of approximately US$200 billion for investment in Ukraine.
A wide range of financial instruments is envisaged for post-war reconstruction; international institutions should strengthen these processes.
Ukraine has declared its intention to introduce the best international standards for attracting direct foreign investment.
Ukraine’s right to compensation for damages is stipulated separately.
Point 10: After this agreement is concluded, Ukraine will accelerate the process of finalizing a free trade agreement with the US.
Point 11: Ukraine reaffirms that it will remain a non-nuclear state in accordance with the Treaty on the Non-Proliferation of Nuclear Weapons.
Point 12: It is proposed that the Zaporizhzhia Nuclear Power Plant be operated jointly.
The American proposal: equal distribution of control, with the US as the chief manager of the joint venture.
The Ukrainian proposal: a 50/50 Ukraine-US joint venture, where half of the electricity produced goes to Ukraine and the other half to the US (which then determines its distribution).
Point 13: Both countries commit to implementing educational programs in schools and across society as a whole that promote understanding and tolerance of different cultures and eliminate racism and prejudice. Ukraine will introduce EU rules on religious tolerance and the protection of minority languages.
Point 14: Territorial distribution.
The Russian Federation shall withdraw its troops from the Dnipropetrovsk, Mykolaiv, Sumy, and Kharkiv oblasts in order for this agreement to take effect.
Option 1: “We stay where we are.” In Donetsk, Luhansk, Zaporizhzhia and Kherson oblasts, the line of troop deployment as of the date of this agreement would be the de facto recognized line of contact and would be monitored by international forces.
Option 2: The creation of a potential free economic zone in Donbas, involving the demilitarization of this area. Ukraine is opposed to the withdrawal of its forces, but if this option were implemented, it would insist on a mirrored withdrawal of forces – meaning Russian forces would have to withdraw as well. This option would require a nationwide referendum in Ukraine to ratify the agreement.
This issue may ultimately be resolved at state-leader level.
Point 15: Following agreement on future territorial arrangements, both the Russian Federation and Ukraine commit not to alter these arrangements by force.
Point 16: Russia will not obstruct Ukraine’s use of the Dnipro River and the Black Sea for commercial purposes. A separate maritime agreement and access agreement will be concluded, covering freedom of navigation and transport. Under this agreement, the Kinburn Spit will be demilitarized.
Point 17: A humanitarian committee will be established to resolve outstanding issues.
All POWs, including those imprisoned under the Russian system since 2014, will be exchanged on an all-for-all basis.
All civilian detainees and hostages, including children and political prisoners, will be returned.
Measures will be taken to address the problems and suffering of war victims.
Point 18: Ukraine is to hold elections as soon as possible after the signing of the agreement. Firstly, the presidential elections: the Ukrainian parliament must work out and vote on a mechanism for holding elections before the martial law restrictions are lifted. Then, the parliamentary and local elections.
Point 19: This agreement will be legally binding. Its implementation will be monitored and guaranteed by a Peace Council chaired by US President Donald Trump. Ukraine, Europe, NATO, Russia and the US will be a part of this mechanism. Sanctions will be imposed for violations.
Point 20: Once all parties agree to this agreement, a full ceasefire will enter into force immediately.
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUE
Actors James Ransone (46, The Wire), Gil Gerard (Buck Rogers, C); ‘MasterChef’ contestant Matt Gagnon (42); TV writers Eric Preven, Kevin Arkadie; George Clooney’s sister (C); singer Joe Ely; & more
Actor James Ransone, best known for his role as Ziggy Sobotka on The Wire and other HBO shows, has died at the age of 46, according to the County of Los Angeles Medical Examiner. Ransone died by suicide, having been found “hanging” in a “shed” and his body is ready for release, according to the medical examiner records shared online. The Baltimore native played Ziggy, a dock worker and the son of Frank Sobotka, played by Chris Bauer, in the second season of The Wire, appearing in 12 total episodes in 2003.
‘Buck Rogers’ star Gil Gerard dies after sudden cancer battle
December 17, 2025
Gil Gerard, the actor who became a household name as the heroic lead of Buck Rogers in the 25th Century, has died at the age of 82. His death was confirmed by his wife Janet, who shared an emotional statement revealing that the illness progressed with devastating speed. According to her message, only days passed between the moment the couple realised something was seriously wrong and Gerard’sdeath.
‘MasterChef’ Contestant Matt Gagnon Dies Unexpectedly at 42
December 20, 2025
Cromwell, CT – Matt Gagnon, who competed on MasterChef Season 11 in 2021, has died. He was 42 years old. The Connecticut native “passed awayunexpectedly” on Monday, December 15, according to an online obituary, though no cause of death is listed. The former MasterChef contestant was employed at a fire protection company at the time of his death. In his spare time, he enjoyed golf and cheering on the New England Patriots.
Obituary: Eric Preven, Television Writer, Government Activist, Dog Lover
December 21, 2025
Joshua Preven wrote, “I am heartbroken to share that my brother Eric Preven died suddenly on Saturday [November 8] from a suspected heart attack. He was a big, beautiful bear of a man full of passion and warmth, and I loved him so much, and he was my hero.” Los Angeles lost one of its most vocal watchdogs when Eric passed away on November 8 in Studio City. He was 62. His work has appeared in The Intercept, the LA Daily News, The New Republic, and the New York Times—and has three times won LA Press Club awards.
Kevin Arkadie, Emmy-Nominated Writer and Producer of ‘New York Undercover’ and ‘NYPD Blue,’ Dies at 68
December 19, 2025
Kevin Arkadie, the Emmy-nominated writer and producer behind “New York Undercover” and many other TV series, has passed away. He was 68. News of Arkadie’s passing was shared by his family on social media Thursday. No cause of death was disclosed. “This man right here was one of America’s greatest storytellers,” Arkadie’s cousin, L True Green, wrote in a social media post. “He has forever changed the landscape of creativity. From having an historic Broadway run, to writing for some of America’s greatest television dramas. He is the reason I have remained in the arts as a writer today. May you rest in peace Cuzzo. Much love.”
10 days after her death, the New York Times published Christine Choy’s obituary on Wednesday. It was reported on Dec. 7 that the co-director behind the Oscar-nominated film Who Killed Vincent Chin? passed away due to cancer in a hospital in the Bronx. Her son, Fleeta Siege, confirmed the death. She was 76 years old.
George Clooney mourns death of sister Ada Zeidler at 65: ‘My hero’
December 20, 2025
Edgewood, Kentucky – George Clooney announced the death of his sister Adelia “Ada” Zeidler in an emotional statement. “My sister, Ada, was my hero,” the “Ocean’s 11” star told People on Saturday. “She faced down cancer with courage and humor. I’ve never met anyone so brave,” he continued. “Amal and I will miss her terribly.” The outlet confirmed Clooney’s older sibling died at age 65 Friday.
Researcher’s note – George Clooney strongly supported mandatory COVID “vaccination”:Link
Texas country icon Joe Ely dies aged 78, months after illness diagnosis
December 16, 2025
Joe Ely, the legendary singer, songwriter and guitarist who toured with renowned bands The Clash and The Rolling Stones and was a key figure in the 1970s progressive country music movement, passed away at the age of 78 on Monday, December 15, in Taos, New Mexico. His death was confirmed via posts on his social media accounts. “Legendary songwriter, singer, and raconteur Joe Ely died today from complications of Lewy Body Dementia, Parkinson’s and pneumonia,” the post stated. He had just revealed his diagnosis of Parkinson’s disease and Lewy body dementia in September of this year.
Evelyn Harris, a Grammy-nominated singer, composer and activist who died unexpectedly earlier this week at the age of 75, is being remembered for her stage presence, vocal prowess and spirited activism by those who knew her in the Pioneer Valley. “She embodied the power that music can have to change people’s hearts and how they think about things and how they process things and how music can bring community together,” said Jason Trotta, executive director of the Northampton Community Music Center, which Harris joined in 2004.
New Orleans jazz violinist Michael Ward dies at 60
December 17, 2025
NEW ORLEANS, LA — Michael Ward, a longtime presence in New Orleans’ music scene, has died at age 60. His wife announced he passedsuddenlyafter hecollapsed on Monday, our partners at NOLA.com reported. Born in San Antonio, Texas, Ward studied jazz at Southern University in Baton Rouge before making New Orleans his home. He became well known for playing smooth jazz on a blue violin, performing at clubs, festivals, and community events locally and internationally. He recorded five albums and shared stages with artists including Irma Thomas.
Austin Country Music Legend and Film Composer, Jim Stringer, Passes Away
December 17, 2025
Today, December 16, 2025, the news was announced that Austin music legend Jim Stringer has died. Stringer never found national fame, but was a staple figure in the Austin, Texas, music scene. While growing up in Kansas City, Stringer was inspired to pick up a guitar after watching Elvis Presley perform on The Ed Sullivan Show in the 1950s. Subsequently, Stringer went on to live a life full of music, as he formed his first band at the age of 12 and continued playing until hispassing. In light of his loss, friend and fellow Austin music legend, Rosie Flores, wrote in a post, “I’m just so very heartbroken to learn that my friend and guitarist Jim Stringer passed today. I can’t believe I’m writing these words. It seems surreal to me. He is so alive in my heart and I feel so sad for Dana Stinger, his lovely wife who has been his best friend and took such great care of him after he was diagnosed with cancer…”
Donnie Wahlberg mourns ‘a true brother’ following heartbreaking loss
December 16, 2025
Donnie Wahlberg took to social media to mourn the loss of a figure pivotal to the touring lives of the New Kids on the Block — one of their longtime tour managers, Victor Popovic. Victor was one of the security detail members for the popular boy band before being made one of their tour managers, working with them on the road and on tours between 2014 to 2017 as one of their managers. He started out as one of their security team members before being promoted, per an interview he conducted with one of the members of NKOTB, Danny Wood, for his YouTube channel.
Albert Hall’s name may not be the first to come up when you talk about Atlanta Braves legends, but to those who remember the grit, the hustle, and the flashes of brilliance that can light up a summer night in a ballpark, his memory hits home. Hall, a longtime Braves outfielder and a part of a very exclusive club in franchise history, has passed away at the age of 67. The cause of death has not been disclosed.
Former Cubs pitcher, first-round draft pick, dies suddenly at 61
December 19, 2025
Former Major League Baseball pitcher Mike Campbell, a Seattle native who debuted with his hometown Mariners in 1987 and threw his final pitch for the Chicago Cubs in 1996, died on Monday in Kirkland, Washington. He was 61. The King County Medical Examiner confirmed Campbell’s death Friday to Newsweek Sports. His cause and manner of death are pending.
Lamarr Wilson’s cause of death disclosed after sudden passing at 48
December 20, 2025
<p style=”margin: 0 0 20
DR PAUL ALEXANDER
NEWSWIZE
MICHAEL EVERY/OR OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS
7. OIL ISSUES/NATURAL GAS/ENERGY ISSUES/GLOBAL\
NATURAL GAS:
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES
VENEZUELA/USA
US Moves Special Operations Aircraft Near Venezuela: ‘Prepositioning For Action’
Tuesday, Dec 23, 2025 – 05:20 PM
“They are prepositioning forces to take action,” David Deptula, a retired Air Force lieutenant general and dean of the Mitchell Institute for Aerospace Studies, told The Wall Street Journal on Tuesday of the ongoing US forces build-up in the southern Caribbean.
The WSJ commentary further assessed that “The movement of such assets indicates that the administration already has decided on a course of action” – though with President Trump it’s currently anyone’s guess as to precisely what that course of action will be.
The report unveils that a fresh and large number of special-operations aircraft, troops and equipment have surged into the Caribbean this week, over and above the significant amount of assets – including warships and a nuclear powered aircraft carrier – which have already been in place for months.
The additional groups deployed included special forces, described in the following:
At least 10 CV-22 Osprey tilt-rotor aircraft, which are used by special-operations forces, flew into the region Monday night from Cannon Air Force Base in New Mexico, according to an official. C-17 cargo aircraft from Fort Stewart and Fort Campbell Army bases arrived Monday in Puerto Rico, according to flight-tracking data. A different U.S. official confirmed that military personnel and equipment were transported on planes.
It isn’t clear what types of troops and equipment the aircraft were transporting. Cannon is home to the 27th Special Operations Wing, while the 160th Special Operations Aviation Regiment, an elite U.S. special operations unit, and the 101st Airborne Division are based at Fort Campbell. The first battalion of the 75th Ranger Regiment is based at Hunter Army Airfield, at Fort Stewart.
An official statement from the US Southern Command (SOUTHCOM) negated to give specifics on the new units reportedly moving closer to Venezuela, but downplayed the movements as routine and standard.
“It is standard practice to routinely rotate equipment and personnel to any military installation,” said a SOUTHCOM spokesperson to WSJ. “And as a standard practice, due to operational security concerns, we do not disclose details or comment on U.S. assets or personnel operational movements and activities, nor disclose details of specific operations or routes.”
Currently there’s a lot of signaling from Washington, and the purpose of such stories as WSJ’s may be to continue instilling fear in Venezuela’s President Maduro. Of course, the White House is not going to push back at this moment on anything which touts the real threat facing Caracas. The US wants the government to feel the heat and pressure.
Meanwhile…
Venezuela's military distributing rifles to the people in working-class districts. These militias will form an armed resistance to defend their nation if the US tries to occupy the country. pic.twitter.com/GCn0M3E8Fi
But the endgame remains unknown, and there’s been a good degree of confusion over this – given how long the Pentagon build-up has dragged on. Also given the Ford Carrier Group is positioned near Venezuela, the clock is ticking, and such a deployment is very costly which each passing day.
END
Trump’s Gunboat Diplomacy Intensifies Against Darkest Corner Of Oil Fleet Propping Up Venezuela
Wednesday, Dec 24, 2025 – 07:20 AM
President Trump’s reposturing of the U.S. military forces toward the Western Hemisphere – effectively Monroe Doctrine 2.0 – reinforced this week by the deployment of additional special-operations aircraft, troops, and equipment into the Caribbean, as U.S. forces apply gunboat diplomacy against Venezuela to disrupt crude oil flows routed through Cuba and onward to China, a campaign that, if successful, could spark regime instability in Caracas, and amplify economic and political stress in Cuba as well.
The Wall Street Journal reported Tuesday that a “large number of special-operations aircraft, troops, and equipment” arrived in the Caribbean region early this week – a movement of military assets and personnel confirmed by U.S. officials and flight-tracking data.
According to the WSJ:
At least 10 CV-22 Osprey tilt-rotor aircraft, which are used by special-operations forces, flew into the region Monday night from Cannon Air Force Base in New Mexico, according to an official. C-17 cargo aircraft from Fort Stewart and Fort Campbell Army bases arrived Monday in Puerto Rico, according to flight-tracking data. A different U.S. official confirmed that military personnel and equipment were transported on planes.
It isn’t clear what types of troops and equipment the aircraft were transporting. Cannon is home to the 27th Special Operations Wing, while the 160th Special Operations Aviation Regiment, an elite U.S. special operations unit, and the 101st Airborne Division are based at Fort Campbell. The first battalion of the 75th Ranger Regiment is based at Hunter Army Airfield, at Fort Stewart.
The 27th Special Operations Wing and 160th Special Operations Aviation Regiment are trained to support high-risk infiltration and extraction missions and provide close air and combat support. Army Rangers are trained to seize airfields and provide security for specialized forces, such as SEAL Team Six or Delta Force, during a precise kill or capture mission.
In a separate report, defense and security media outlet Army Recognition, citing open-source intelligence accounts on X, indicated that the U.S. military is ramping up deployments of F-35A stealth fighter jets, intelligence aircraft, and electronic warfare platforms across the Caribbean.
David Deptula, a retired Air Force lieutenant general and dean of the Mitchell Institute for Aerospace Studies, an aerospace think tank, told WSJ that the “prepositioning forces” in the region are “to take action.” He said the movement of such assets indicates that the administration has already decided on a course of action.
“The question that remains is to accomplish what?” Deptula said.
Trump’s gunboat diplomacy – seizing two sanctioned tankers and targeting a third earlier this week – should be viewed as a pressure campaign to disrupt Venezuela-Cuba-China oil flows. It’s always about following the money, and in this case, that oil money props up the Maduro regime.
Jorge Piñón, a Cuban exile who tracks the island’s energy ties to Venezuela at the University of Texas at Austin, told WSJ earlier this week that once crude oil flows are cut, this would act as a domino effect and create regime instability in Caracas, warning that “it would be the collapse of the Cuban economy, no question about it.”
According to analytics firm Kpler, Caracas has shipped nearly 900,000 barrels per day this year and relies on 400 dark-fleet tankers to transport the crude, much of which is bound for China.
“Venezuela has been remarkably effective at masking both origin and ownership of crude and therefore at evading financial and trade-related controls,” Kpler analyst Dimitris Ampatzidis told Bloomberg. “That’s why Washington has increasingly moved from purely financial measures to physical disruption.”
The military buildup across the region and the use of gunboat diplomacy are clear signals of the U.S. intent to force regime change in Venezuela by disrupting Maduro’s funding lifelines; China responded earlier this week, and Beijing is not pleased about crude oil disruptions.
END
Holding Pattern: Coast Guard Awaits Special Forces Unit To Execute Venezuela-Linked Tanker Seizure
Wednesday, Dec 24, 2025 – 11:20 AM
Update (1120ET):
U.S. Coast Guard forces remain in a holding pattern this week, awaiting the arrival of specialized teams to assist in the interdiction and seizure of the Venezuela-linked oil tanker Bella 1.
Reuters reports that the Coast Guard is awaiting one of two specialist units, known as Maritime Security Response Teams (MSRTs), which can board the tanker by rappelling from helicopters under hostile conditions.
MSRT units are called in for non-compliant vessels, hostile crews, or situations involving weapons, sanctions evasion, or national security threats. Regular Coast Guard boarding operations are not equipped to handle such situations.
The Justice Department filed the lawsuit against the state over the law in February, naming Gov. Kathy Hochul and the state’s attorney general, Letitia James, as defendants.
“As I said from the start, our laws protect the rights of all New Yorkers and keep our communities safe,” James said in a statement on Dec. 19. “I will always stand up for New Yorkers and the rule of law.”
Nardacci stated that her job was not to evaluate the desirability of the Green Light Law as a policy matter. Rather, she said in a 23-page opinion, it was to assess whether the Trump administration’s arguments established that the law violates the U.S. Constitution’s Supremacy Clause, which grants federal laws precedence over state laws.
The administration, she wrote, has “failed to state such a claim.”
The Green Light Law was framed as improving public safety on the roads, as people without licenses sometimes drove without one or without having passed a road test. The state also makes it easier for holders of such licenses to get auto insurance in an attempt to minimize accidents involving uninsured drivers.
Under the law, people without a valid Social Security number can submit alternative forms of ID, such as valid passports and driver’s licenses issued in other countries. Applicants must still obtain a permit and pass a road test to qualify for a “standard driver’s license.” The program does not apply to commercial driver’s licenses.
The Justice Department’s lawsuit sought to strike down the law as “a frontal assault on the federal immigration laws, and the federal authorities that administer them.”
It noted a provision that requires the state’s Department of Motor Vehicles commissioner to notify people who are in the country illegally when a federal immigration agency has requested their information.
In 2020, during Trump’s first term, his administration sought to push New York into changing the law by preventing anyone from the state from enrolling in trusted traveler programs.
Then-Gov. Andrew Cuomo offered to restore limited federal access to driving records, but stated he would not allow immigration agents to see lists of people who applied for the special licenses available to immigrants who couldn’t prove legal residency in the country. The administration restored New Yorkers’ access to the trusted traveler program after a short-lived legal battle.
In the lawsuit thrown out Tuesday, the administration contended that it would be simpler to enforce federal immigration priorities if federal authorities had unhindered access to New York’s driver data. Nardacci, agreeing with a 2nd U.S. Circuit Court of Appeals ruling in a county clerk’s prior challenge to the law, stated that such information “remains available to federal immigration authorities” via a lawful court order or judicial warrant.
In December 2019, former ICE acting director Tom Homan, now Trump’s border Czar, called the law an “enticement” that minimizes the illegality of illegal immigration by providing benefits.
“There’s absolutely no reason to give a privilege of a driver’s license to someone who is here in violation of the law,” Homan stated.
In February 2020, a New York sheriff said the law hinders human trafficking investigations by restricting DMV data sharing with federal agents.
“So, if Border Patrol came and said, ‘Hey, we want to look through your records because we’re looking for this guy,’ I can’t share our investigation with them if it has DMV data,” Wayne County Sheriff Barry Virts said.
That same month, the Department of Homeland Security banned New Yorkers from enrolling in trusted traveler programs, with acting Secretary Chad Wolf citing the law’s barriers to DMV data access as the reason.
New York responded with a lawsuit, alleging the ban was punitive and harmed residents.
The Associated Press contributed to this report
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS WEDNESDAY MORNING 6;30AM//OPENING AND CLOSING
EURO/USA: 1.1797 UP 0.0002 PTS OR 2 BASIS POINTS/WITH STOCKS IN EUROPE ALL GREEN
USA/ YEN 155.83 DOWN 0.337 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 DEC 2024/Bank of Japan raises rates by .25% TO 1.75 ..TAKAICHI NEW PM AS YIELDS RISE//JAPAN DEEPLY IN TROUBLE WITH RISING RATES AND A FALLING YEN!!
GBP/USA 1.3523 UP .0010 OR 10 BASIS PTS
USA/CAN DOLLAR: 1.3675 DOWN 0.0010 CDN DOLLAR UP 10 BASIS PTS//CDN DOLLAR STILL GETTING KILLED)
Last night Shanghai COMPOSITE CLOSED UP 26.97 PTS OR 0.53%
Hang Seng CLOSED UP 44,79 PTS OR 0.17%
AUSTRALIA CLOSED SOQN 0.26%
// EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 44,79 PTS OR 0.17%
/SHANGHAI CLOSED UP 20,97 POINTS OR 0.53%
AUSTRALIA BOURSE CLOSED DOWN 0.26 %
(Nikkei (Japan) CLOSED DOWN 54.97 PTS OR 0.11%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 4488,69
silver:$71.83
USA dollar index early WEDNESDAY morning: 97.50 DOWN 11 BASIS POINTS FROM TUESDAY’s CLOSE
WEDNESDAY MORNING NUMBERS ENDS
And now your closingWEDNESIDAY NUMBERS 11: 30 AM
Portuguese 10 year bond yield: 3.161 % DOWN 2 in basis point(s) yield
JAPANESE BOND 10 yr YIELD: +2.051% UP 1 FULL POINTS AND 0/100 BASIS POINTS /JAPAN losing control of its yield curve/
JAPAN 30 YR: 3.418 DOWN 1 BASIS PTS//DEADLY
SPANISH 10 YR BOND YIELD: 3.282 DOWN 3 in basis points yield
ITALIAN 10 YR BOND YIELD 3.514 DOWN 3 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.8670 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 1.1786 DOWN 0.0008 OR 8 basis points
USA/Japan: 156.01 DOWN 0.159 OR YEN IS UP 16 BASIS PTS// HIGHLY INFLATIONARY TO JAPAN
Great Britain 10 YR RATE 4.508 DOWN 2 BASIS POINTS //
GREAT BRITAIN 30 YR BOND; 5.224 DOWN 4 BASIS POINTS.
Canadian dollar UP 0.0012 OR 12 BASIS pts to 1.3673
Crypto Gets The Coal As ‘Santa Claus Rally’ Starts With Another S&P Record High
WRAP UP
USA DATA RELEASES
Initial Jobless Claims Once Again Show No Signs Of Labor Market Stress
Wednesday, Dec 24, 2025 – 08:38 AM
The number of Americans filing for first time jobless benefits tumbled to 214k (from 224k) in the week ending Dec 20th. This is the same level of claims seen back in Nov 2021 and shows absolutely no stress in the labor market (like ADP showed a rebound in hiring) while JOLTS, Payrolls, and surveys all suggest pain…
Source: Bloomberg
Illinois, New York, and Pennsylvania are the states with the biggest decline in jobless claims while Rhode Island and Massachusetts saw a small rise in jobless claims…
Continuing jobless claims rebounded from the shutdown/Thanksgiving seasonal SNAFU but remain well off YTD highs…
Source: Bloomberg
Not exactly the kind of data that supports more rate-cuts
end
USA ECONOMIC COMMENTARIES
Education Department To Start Garnishing Wages Of Defaulted Student Loan Borrowers In January
Tuesday, Dec 23, 2025 – 07:40 PM
As we and others have noted several times over the last year, the US government will be garnishing the wages of student loan borrowers in default – with actual garnishment now set to begin in January, CNBC reports.
A spokesperson for the US Department of Education confirmed the plan, which will mark the first time a portion of borrowers’ paychecks have actually been at risk since the beginning of the Covid-19 pandemic, when collection activity was halted.
Starting the week of Jan. 7, the Education Department expects around 1,000 defaulted student loan borrowers to receive notices of administrative wage garnishment, the spokesperson said. After that, the number of notified borrowers will continue to increase. -CNBC
While the US government can seize borrowers’ federal tax refunds, wages, Social Securiity and disability benefits, the Education Department can legally seize up to 15% of a student loan holder’s after-tax income to apply toward their debt.
More than 42 million Americans have student loan debt, which now exceeds $1.6 trillion.
There are currently more than 5 million student loan borrowers in default, a number which could explode to roughly 10 million borrowers soon, the Education Department said in April.
Until past due payments are paid in full or the default status is resolved, borrowers could see up to 15% of their wages automatically deducted from their paychecks.
Borrowers who have been newly reported as delinquent since then on their student loans have seen an average 60-point drop in their credit scores, according to TransUnion. Nine percent of borrowers who fell into delinquency were current on their payments by April, according to TransUnion.
The Education Department has been urging borrowers to resume payments and emphasizing the consequences. Roughly 43 million borrowers owe more than $1.6 trillion in student-loan debt.
More than nine million of them are expected to see their credit scores drop this year, according to data from the New York Fed released in March.
Meanwhile, the job market for Gen Z is looking beyond dismal – as hiring has been down for the better part of a year amid signs that layoffs are ticking up.
According to a July survey from Cengage Group, of more than 2 million people who earned their bachelor’s degrees in the spring of 2025, just 30% reported finding a full-time job in their field. The report also found that around 76% of employers reported hiring the same number or fewer entry-level employees in 2025 vs. 2024, citing a tightening labor market, the rise of AI, and broader economic pressures that include inflation and Trump’s tariffs.
According to Nich Tremper, senior economics for payroll and HR service provider Gusto, the slowdown is in large part due to overhiring during the post-pandemic economy in 2021 and 2022 which saw businesses offering high salaries to compete for talent.
Layoffs, meanwhile, are at their highest level since the pandemic, with around 1.1 million announced job cuts between January and October 2025, according to data from outplacement firm Challenger, Gray & Christmas cited by CNBC.
“Folks are kind of just sitting still,” said Tremper. “They’re not looking for new roles, they’re not leaving their current roles. Without those new jobs available, it’s hard for an entry-level employee to get their foot in the door and start their career.”
As of September, the unemployment rate for recent college grads reached 9.7%, the same as for 20-24-year-olds with only a high school diploma, according to the Fed.
Trump Just Got Green Light to Invoke Insurrection Act!
Fascinating if this comes forth.
Perhaps the MilItary can prosecute the parties who have defrauded America for so long and denied justice for all who go against the Swamp. Without them there is no working justice available in courts highjacked.
Trump Just Got Green Light to Invoke Insurrection Act!
ROBERT H TO US:
Holy shit I think it’s actually happening.
I am reading through the Supreme Court ruling in Trump vs. Illinois, and they ruled that Trump needs to invoke the Insurrection Act in order to send the troops into Chicago.
Kavanaugh in his dissent even says that this ruling “could cause the President to use the US military more than the National Guard”.
The Supreme Court just admitted that Trump has the authority to invoke the Insurrection Act to bypass Posse Comitatus and send the troops to Chicago, and any other city he wants.
Trump tried to exhaust every legal avenue possible before resulting to the Insurrection Act, but the Dems resisted and refused to cooperate.
Sounds to me like Trump just got the green light. INVOKE THE INSURRECTION ACT!
end
The greatest President of the USA: Donald Trump: goes to war against EU globalists from their anti free speech
(zerohedge)
Trump Admin Bans Anti-Free Speech EU Globalists From Entering US
Wednesday, Dec 24, 2025 – 08:45 AM
America finally draws a line in the sand against foreign meddlers…
Modernity.news Steve Watson details below that the Trump administration has slapped visa bans on former EU Commissioner Thierry Breton and four other ‘anti-disinformation’ activists, accusing them of coercing American social media companies to censor viewpoints they dislike.
The move signals a zero-tolerance policy toward extraterritorial censorship, especially after the EU’s recent assaults on Elon Musk’s X.
Secretary of State Marco Rubio laid it out clearly: “For far too long, ideologues in Europe have led organized efforts to coerce American platforms to punish American viewpoints they oppose. The Trump Administration will no longer tolerate these egregious acts of extraterritorial censorship.”
Under Secretary of State for Public Diplomacy and Public Affairs Sarah B. Rogers stated “These sanctions are visa-related. We aren’t invoking severe Magnitsky-style financial measures, but our message is clear: if you spend your career fomenting censorship of American speech, you’re unwelcome on American soil.”
‘To censor Americans in America is a deal breaker.’
US Under Secretary of State for Public Diplomacy, Sarah Rogers, blasts the proposed Online Safety Act, saying the law ‘vastly overreaches’ into other countries, calling it a ‘red line’.
The list includes Thierry Breton, who notoriously threatened Elon Musk over hosting a 2024 interview with Donald Trump on X. Others barred are Imran Ahmed, CEO of the Center for Countering Digital Hate (CCDH), who worked with Democrats like Amy Klobuchar to “kiII Musk’s Twitter”; Joan Donovan, founder of The Critical Internet Studies Institute; Kate Starbird, co-founder of the University of Washington’s Center for an Informed Public; and Jim Davey, co-founder of the Institute for Strategic Dialogue.
This retaliation comes amid escalating tensions between the Trump administration and the EU. As we previously detailed, Brussels hit X with a $140 million fine under the Digital Services Act for refusing to comply with their censorship demands, marking a blatant attack on free expression.
Musk fired back fiercely, declaring the “EU commissars are responsible for the murder of Europe” and calling to “Dissolve the EU and return power to the people.” He highlighted X’s surge in popularity across Europe despite the fine, noting it became the top news app in every EU country.
The broader feud intensified when EU Council President Antonio Costa warned Trump to “keep his hands off Europe” amid the free speech crackdown. Costa condemned U.S. “interference” in European affairs, ignoring the bloc’s own slide into authoritarian control over online content.
Trump himself has blasted Europe’s direction, urging citizens to confront unchecked migration and over-regulation that’s “endangering the continent as we know it.” In interviews, he stressed, “Europe has to be very careful… We want to keep Europe Europe,” and called the EU’s fine on X “nasty” and unjust.
Breton, who left the European Commission in 2024, has slammed the ban as a “witch hunt,” comparing the situation to the US McCarthy era when officials were chased out of government for alleged ties to communism.
“To our American friends: Censorship isn’t where you think it is,” he declared on X.
France also condemned the visa ban on Breton, but the Trump team remains unmoved. This action underscores America’s commitment to protecting its tech giants from foreign regulatory harassment, prioritizing sovereignty and open discourse over globalist dictates.
As Brussels doubles down on surveillance tools like the DSA and proposed Chat Control laws, which threaten privacy by scanning private messages, the U.S. pushback exposes the hypocrisy of EU elites preaching democracy while building an Orwellian framework.
With Trump in charge, expect more defense of freedoms against such overreach. This ban on Breton and his allies is a clear message: Attempts to censor U.S. platforms from abroad will face consequences. The era of tolerating globalist bullying is over.
[ZH: To all of this we have one simple response: ]
Table 2. Contributions to Percent Change in Real Gross Domestic Product Health Care +.76;Net Exports of Goods & Services +1.59; Nonprofits +0.5; Government +.39; Inventories -.22; Gross Private Domestic Investment -0.02, with Residential -0.22 and hokey Intellectual Property guestimate +.30. PS – The Healthcare spending jump is INFLATION!
The GDP Price Index jumped 3.8% with 2.7% consensus. Core PCE was the expected 2.9% Transportation Commodities added .554.
Why is the GDP Price Index so much higher than CPI?
The BEA: The GDP price index, like the CPI, measures price change for consumer goods and services, but also measures price change for goods and services purchased by businesses, governments, and foreigners. However, unlike the CPI, the GDP price index does not measure price change for imports… The CPI uses a Laspeyres formula, the PCE price index relies on a Fisher ideal price index calculation. In addition, the CPI weights are derived from out-of-pocket expenditures by consumers, while the PCE weights are derived from out-of-pocket expenditures by consumers as well as third-party expenditures on behalf of consumers. Finally, the actual goods and services for which prices are collected vary. (For example, the CPI for financial services includes only checking accounts and other bank services, as well as tax return preparation and other accounting fees, and has less than a 0.5-percent share in the CPI, whereas the PCE is more expansive and includes pension funds, regulated investment companies such as mutual funds, and securities commissions)… The CPI measures price change from the perspective of an urban consumer and thus pertains to goods and services purchased out of pocket by urban consumers. The GDP price index and implicit price deflator measure price change from the perspective of domestic production of good and services and thus pertain to goods and services purchased by consumers, businesses, government, and foreigners, but not importers. In addition, the formulas used to calculate these two measures differ… https://www.bls.gov/opub/mlr/2016/article/comparing-the-cpi-with-the-gdp-price-index-and-gdp-implicit-price-deflator.htm
@realDonaldTrump: THE TRUMP RULE: The Financial News today was great — GDP up 4.2% as opposed to the predicted 2.5%… But in the Modern Market, when you have good news, the Market stays even, or goes down, because Wall Street’s “heads” are wired differently than they used to be. In the old days, when there was good news, the Market went up. Nowadays, when there is good news, the Market goes down, because everybody thinks that Interest Rates will be immediately lifted to take care of “potential” Inflation. That means that, essentially, we can never have a Great Market again, those Markets from the time when our Nation was building up and becoming great. Strong Markets, even phenomenal Markets, don’t cause Inflation, stupidity does! I want my new Fed Chairman to lower Interest Rates if the Market is doing well, not destroy the Market for no reason whatsoever. I want to have a Market the likes of which we haven’t had in many decades, a Market that goes up on good news, and down on bad news, the way it should be, and the way it was. Inflation will take care of itself and, if it doesn’t, we can always raise Rates at the appropriate time — But the appropriate time is not to kill Rallies, which could lift our Nation by 10, 15, and even 20 GDP points in a year — and maybe even more than that! A Nation can never be Economically GREAT if “eggheads” are allowed to do everything within their power to destroy the upward slope. We are going to be encouraging the Good Market to get better, rather than make it impossible for it to do so. We are going to see numbers that are far more natural, and far better, than they have ever been before. We are going to MAKE AMERICA GREAT AGAIN! The United States should be rewarded for SUCCESS, not brought down by it. Anybody that disagrees with me will never be the Fed Chairman! https://truthsocial.com/@realDonaldTrump/posts/115770165868454573
Google AI: The phrase “isn’t as smart as they think they are” points to the Dunning-Kruger effect, a cognitive bias where people with low ability in a subject overestimate their competence…, stemming from a lack of self-awareness to recognize their own shortcomings. Signs include dismissing other views, extreme certainty, and poor listening, whereas truly smart people often recognize the limits of their knowledge and value learning from diverse perspectives… Signs Someone Isn’t as Smart as They Think… Excessive Self-Promotion: Needing to constantly tell people they are smart or educated. Arrogance: Using intellect as an excuse for being mean or lazy…
Oct Industrial Production -0.1% as expected; Mfg. Production 0.0%, 0.1% m/m expected; Capacity Utilization 75.9% as exp
Nov Industrial Production -0.1% m/m as expected; Mfg. Production -0.4%, -0.1% m/m expected; Capacity Utilization 76%, 75.9% exp
Dec Richmond Fed Mfg. Index -7, -10 exp; Business Conditions -11, -9 exp.
Dec Conference Board Consumer Confidence 89.1, 91 exp; prior revised to 92.9 from 88.7 (What?); Present Conditions 116.8, prior 126.2; Expectations 70.7, prior revised to 70.7 from 63.2 (What?).
Japan’s Takaichi talks tough on debt as bond yields spike Prime Minister Sanae Takaichi on Tuesday said Japan’s national debt level is “still high” and rejected any “irresponsible bond issuance or tax cuts,” as she tries to balance government support of an economy now weathering high U.S. tariffs against the potential of investors losing confidence in the yen and state finances… https://t.co/Jhw8PH1bOL
Gold and silver rallied sharply and hit record highs, again. Silver hit 71.0922 at 12:50 ET and is +146% for 2025. (28.9021 close on Dec 31, 2025) Gold hit 4497.74 at 21:42 ET; but someone slammed gold with prejudice at 8:49 ET, driving it down to 4430.81 at 10:03 ET. Gold rebounded robustly to 4496.28.
@KobeissiLetter: Gold futures surge above $4,500/oz for the first time in history, now up more than +70% this year. Gold is now on track for its biggest yearly gain since 1979. https://t.co/m8hY2oxZmf
@FluentInFinance: This rapid rise in Gold prices has only happened a few times in history and it’s never ended well. The pattern goes back centuries: • Rome’s Crisis (235-284 AD) → Empire collapse • Spanish Empire decline (1600s) → Lost world power status • French Revolution (1789) → Monarchy overthrown • Weimar Germany (1921-1923) → Hyperinflation destroyed savings • Bretton Woods collapse (1971) → Dollar crisis, gold soared 2,400% • Soviet Union dissolution (1991) → Ruble collapse Every time it meant the same thing: People lost faith in their government and money.
ESHs traded mostly modestly higher from the Nikkei opening until they broke lower at 23:30 ET. After falling to 6922.25 at 1:28 ET, ESHs rallied to 6936.75 at 4:40 ET. Aggressive selling pushed ESHs down to a daily low of 6913.25 (-17.00) at 8:56 ET. ESHs went inert until they went vertical three minutes before the NYSE open on conditioned buying.
After jumping to 6943.50 at 9:48 ET, the pro dump pushed ESHs down to 6924.25 at 10:09 ET. ESHs then commenced an intractable and plodding rally that took ESHs to a daily high of 6963.75 at 15:58 ET.
Positive aspects of previous session Stocks rallied moderately; the S&P 500 closed at a record and is 11 handles from a record print high. Fangs and trading sardines led the rally. USHs rallied modestly.
Negative aspects of previous session Gold and silver hit record highs; platinum hit a 17-year high. The DJTA declined.
Ambiguous aspects of previous session The Fed’s new T-Bill QE has injected $30B into the system so far. What will be the consequences?
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open:Up; Last Hour: Up
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 6896.49 Previous session S&P 500 Index High/Low: 6910.88; 6868.81
@JackPosobiec: The latest Epstein file drops are bombshells… Epstein personally negotiated contracts for Southern Air Transport—the CIA’s Iran-Contra gun-running airline—and relocated its ops from Miami to a Columbus, OH military base to service his companies. This links straight to his Bear Stearns-era clearing trades for BCCI (CIA’s money-laundering hub for Brits, Saudis, Israelis) and handling Adnan Khashoggi’s arms-dealing cash. No coincidence—Epstein was an intelligence asset, shielded by the deep state.
Today – The Santa Rally window opens in an abbreviated session that ends at 13:00 ET. Absenteeism will be high; a determined few can easily manipulate stuff. Most of the known universe is bullish.
ESHs are -2.25; NQHs are +5.50; Dec AU is +34.10, spot AU$4510; and USHs are +5/32 at 19:05 ET.
S&P Index 50-day MA: 6779; 100-day MA: 6659; 150-day MA: 6482; 200-day MA: 6254 DJIA 50-day MA: 47,328; 100-day MA: 464445; 150-day MA: 45,442; 200-day MA: 44,333 (Green is positive slope; Red is negative slope)
S&P 500 Index (6909.79 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 5799.20 triggers a sell signal Weekly: Trender is positive; MACD is negative – a close below 6420.50 triggers a sell signal Daily: Trender and MACD are positive – a close below 6778.71 triggers a sell signal Hourly: Trender and MACD are positive – a close below 6889.40 triggers a sell signal
@EricLDaugh: REPORTER: People on your transition team supported the killing of Jews after October 7th…will you reject them from your administration? ZOHRAN MAMDANI: “…there’s a wide variety of political opinion.”…https://t.co/5p9v5MdvJX
MSM Stays Silent as Horrific Video Emerges of Attack on 75-Year-Old Woman in Seattle 75 year old Jeanette Marken was victim of an unprovoked attack by REPEAT violent offender Fale Vaigalepa Pea. She lost an eye and broke her nose and cheekbone. Fale has a long violent record of stabbings to drugs. Judges kept releasing him to terrorize others… According to charging documents, 42-year-old Fale Vaigalepa Pea used a wooden stick with a protruding screw to strike 75-year-old Jeanette Marken in the face… https://www.zerohedge.com/political/msm-stays-silent-horrific-video-emerges-attack-75-year-old-woman-seattle
@WesternLensman: GOP Rep Comer: Walz isn’t going to “fix” any of the Somali fraud issues in Minnesota — because Democrats rely on that population to win power: “It’s the whole key to the business model of success for the Democrat Party in Minnesota.” And — staggering numbers of them are on the US taxpayer dole: “The early numbers that I’m getting in on the Somalis in Minnesota is 75% are on full government assistance. Full welfare.”https://x.com/WesternLensman/status/2003487685827072129
Trump on Monday night: The Failing New York Times, and their lies and purposeful misrepresentations, is a serious threat to the National Security of our Nation. Their Radical Left, Unhinged Behavior, writing FAKE Articles and Opinions in a never ending way, must be dealt with and stopped. THEY ARE A TRUE ENEMY OF THE PEOPLE! Thank you for you attention to this matter. PRESIDENT DJT
Supreme Court stops Trump from deploying National Guard to Chicagohttps://trib.al/jnjI5Sw (Chief Justice Roberts and Kavanaugh aligned with the four women justices.)
@Badhombre: The 6-3 SCOTUS ruling on the deployment of the National Guard is: limited to Chicago – not a final ruling on the merits – temporary while underlying litigation continues – easily ignored, Biden ignored three SCOTUS rulings
Merry Christmas!
SWAMP STORIES FOR YOU TONIGHT
Judge Allows Abrego Garcia To Remain Free While She Considers Immigration Issues
Tuesday, Dec 23, 2025 – 06:00 PM
A U.S. District Judge overseeing a lawsuit by Salvadoran national Kilmar Abrego Garcia against the Trump administration allowed him to remain free from custody while she assesses whether the government can validly remove him from the country.
Judge Paula Xinis of the U.S. District Court for the District of Maryland, based in Greenbelt outside of Washington, D.C., said that she was “growing … impatient” with the government’s attorneys, who are arguing that Abrego Garcia’s summary removal from the country to El Salvador on March 15—pursuant to President Donald Trump’s invocation of the Alien Enemies Act of 1798—was justified.
He had been granted, in 2019, a “Withholding of Removal” order by an Immigration Court, which prevents an alien who is otherwise deportable from being removed from the country, due to the finding of a credible fear for his life.
Thereafter, he lived in Maryland for six years, during which time he married a U.S. citizen and fathered a U.S. citizen child.
The Trump administration removed Abrego Garcia in March, stating that he is an “MS-13 gang member with a history of violence,” which he and his lawyers denied.
Democrats and progressive groups criticized the removal of Abrego Garcia in spite of the 2019 court order.
The administration said the removal was an “administrative error.”
“Why should I give the respondents the benefit of the doubt?” Xinis said during a hearing in the case on Dec. 22.
Xinis had issued a writ of habeas corpus—a constitutional remedy to release someone from government custody—to Abrego Garcia on Dec. 11, which freed him from U.S. Immigration and Customs Enforcement (ICE) custody, and then issued a restraining order to the agency to bar it from re-taking him into custody on other grounds.
On Dec. 22, Xinis denied the government’s request to rescind that order.
“This is an extremely irregular and extraordinary situation,” Xinis said during the hearing.
Abrego Garcia also faces criminal charges in the U.S. District Court for the Middle District of Tennessee for conspiracy to unlawfully transport illegal aliens and related smuggling offenses stemming from a 2022 traffic stop.
A federal grand jury indicted him on May 21, 2025, after which the Trump administration repatriated him from El Salvador, his native country, on June 6 to face those charges.
Any proceeding to remove him from the country would occur in a civil Immigration Court, created for the purpose of adjudicating removal cases, and would be subordinate to the ongoing criminal case in Tennessee. Xinis has prioritized resolving the civil habeas corpus case in Maryland before allowing Abrego Garcia’s re-detention for removal.
The Trump administration has been ramping up deportations of illegal immigrants, prioritizing those with a criminal record.
Critics of federal immigration enforcement have been protesting in support of Abrego Garcia. Outside the hearing on Dec. 22, which he attended, supporters cheered for him while a choir sang, accompanied by bullhorn and drum.
Abrego Garcia’s case, on interlocutory appeal, also reached the Supreme Court, which on April 10 ruled to grant in part and deny in part an application to vacate Xinis’s order, vacating the return deadline but requiring the government to facilitate his release from custody in El Salvador and process his case as if not improperly removed
END
COLORADO
.Colorado Faces Federal Funding Cut Over Issuance Of Commercial Driver’s Licenses To Illegals
Tuesday, Dec 23, 2025 – 11:00 PM
The state of Colorado could lose up to $24 million in federal highway funding due to the state’s slow response to violations involving the issuance of commercial driver’s licenses (CDL) to noncitizens, U.S. Transportation Secretary Sean Duffy announced on Monday.
The warning stems from an October federal audit demonstrating that approximately 22 percent of Colorado’s CDLs given to non-citizens, including Mexican nationals, violated federal prohibitions.
“Every day that goes by is another day unqualified, unvetted foreign truckers are jeopardizing the safety of you and your family,” Duffy said in a statement.
Duffy accused the state of delaying an in-depth internal review, full driver accounting and revocations, despite federal compliance alerts.
However, as Kimberley Hayek reports below for The Epoch Times,beyond the funding freeze, Duffy also warned the department could decertify Colorado’s full CDL program if the state does not meet requirements.
Colorado’s Division of Motor Vehicles paused new issuances and renewals of limited-term non-domiciled CDLs and learner permits last week, saying it will continue to do so until an audit confirms that U.S. standards are being met.
Duffy has moved nationwide to enforce CDL qualifications for hauling heavy loads or passengers. A summer audit expanded after an unauthorized foreign driver in Florida made an illegal U-turn and crashed, killing three.
Federal rules mandate an immigration status check before licensing. Audits uncovered lapses in such verifications across states.
New York received a 30-day ultimatum Dec. 12 to align with nondomiciled CDL rules or lose funding, with Duffy saying that 53 percent of its such licenses were improperly issued. The state’s DMV disputed the figures as fabricated.
In California, Duffy froze $160 million in October for widespread noncitizen licensing, and threatened to rescind issuance authority if Gov. Gavin Newsom defies emergency directives to halt and audit them. Since then, California has revoked approximately 21,000 CDLs.
Pennsylvania, Minnesota, Texas, and South Dakota have faced similar scrutiny. A June FMCSA investigation found noncompliance in California, Colorado, Pennsylvania, South Dakota, Texas, and Washington, prompting tightened non-domiciled CDL eligibility.
Almost 3,000 CDL providers were delisted from the federal registry Dec. 2 for illegal practices, with 4,500 more receiving warnings. Per reviews, approximately half of U.S. truck schools fail federal standards.
Recent incidents highlight the issue, including a deadly crash in Tennessee that was allegedly caused by an illegal immigrant from China who was allowed to illegally obtain a CDL.
The administration revoked the privileges of 9,500 drivers Dec. 11 for failing in their English proficiency, including cases from Washington and California.
American truckers have applauded the crackdown on noncitizen CDL licensing.
“My response is absolutely we can handle it because [unqualified foreign drivers] shouldn’t be on the road to begin with,” John Esparza, president and CEO of the Texas Trucking Association, told The Epoch Times last week.
Financial writer and precious metals expert Bill Holter (aka Mr. Gold) has been sounding the alarm of the profound risk in the financial system. At the beginning of December, Mr. Gold warned about the record setting silver prices and said, “It’s pretty clear and pretty obvious that something behind the scenes is breaking.” What is “breaking” is the extremely leveraged futures markets with not enough physical silver to deliver. Fast forward to the end of the month, and new record highs in gold and silver are happening every day. Mr. Gold says, “They are gobbling up all the supply available because they understand this is the end of the fiat currency experiment that started August 15 of 1971. Fiats are collapsing. This is the Hunt brothers on steroids because you have the entire world buying physical. The Hunt brothers got into trouble because they were buying paper contracts, and COMEX changed the rules. COMEX can change any rules they want . . . it won’t matter because the rest of the world is buying cash and carry . . . they will not accept paper contracts. They want real physical metal.”
Here is where it gets both interesting and dangerous. What happens if the short sellers cannot deliver the silver promised? Mr. Gold says, “People say if they can’t deliver, and I am going to tell you at some point they will not be able to deliver, when that moment happens, it’s game over for the entire financial system. Silver, and I believe it will be silver that fails to deliver, silver is the blasting cap to the gold nuclear bomb. When silver fails to deliver, then immediately there will be a pile into COMEX gold, and they will not be able to deliver the gold. Once that happens, you have failures of contracts that are proven fraudulent. They are zeroed out and cannot perform. Then it spreads to cattle, pork bellies, grains and you name it. This is not to mention the financials of stocks and bonds. Once you prove fraud in silver, that’s going to spread to all the derivatives, and we will have a derivative meltdown. . .. The world wants gold and silver because those are the only two monies that cannot default.”
What you are seeing in the gold and silver markets now is far from a top. This is just getting started. Mr. Gold says, “These contracts are a zero-sum game. There is a winner and a loser. If the loser loses so big that they go belly up, then the winner becomes a loser because they can’t get paid. That is the problem. . .. When this actually hits and there is a failure to deliver, gold and silver will be wiped off the shelves, and there will be none to be bought. . .. This will be a run for safety, and fear is the greatest emotion there is. Fear is a far greater emotion than greed. . .. This is going to turn into a reverse bank run into gold and into silver because they cannot default in a world that is defaulting. . .. What you are witnessing is the end of trust. When you have the end of trust, the confidence breaks and credit is forthcoming only when there is trust. Once confidence breaks, the credit markets will begin to seize up. . .. When credit stops, it’s game over. You will see markets, institutions and stores shutter.”
Holter says you should be able to be self-sufficient for a while when the system shuts down. Storing up food and water is a good place to start.
In closing, Holter says, “This is the finale of the great financial reset. Make no mistake, what you are watching is the world resetting before your very eyes.”
There is much more in the 43-minute interview.
Join Greg Hunter of USAWatchdog as he goes One-on-One with financial writer and precious metals expert Bill Holter/Mr. Gold as the financial system begins its reset for 12.23.25.
harveyorganblog.com 
