JAN 7ANOTHER RAID ON OUR PRECIOUS METALS: GOLD CLOSED DOWN $38.50 TO $4452.50..SILVER FELL $2.78 TO $78.05/PLATINUM DOWN $105.00//GOLD COMMENTARY FROM ALASDAIR MACLEOD//COVID INJURY REPORTl MARK CRISPIN MILLER/DR PAUL ALEXANDER//OTHER IMPORTANT COMMENTARIES TONIGHT
I AM IN COSTA RICA NOW AND IT IS DIFFICULT TO DO A FULL COMMENTARY . ALL CLOSING DATA IS FINALIZED/ BUT I DID NOT GET EARLY MORNING DATA AND 1 PM DATA.
GOLD CLOSED CLOSED DOWN $38.50 TO $4,452.50
SILVER CLOSED DOWN $2.78 TO $78.05
access market
GOLD $4,461.50(3:30 PM)
SILVER: 78.75 3;30 PM)
Royal Mint Warns Of Delivery Delays As Londoners Rush For Silver
099 H DEUTSCHE BANK AG 57 118 H MACQUARIE FUTURES US 200 332 H STANDARD CHARTERED B 4 363 H WELLS FARGO SECURITI 26 38 435 H SCOTIA CAPITAL (USA) 14 661 C JP MORGAN SECURITIES 112 686 C STONEX FINANCIAL INC 5 737 C ADVANTAGE FUTURES 3 880 H CITIGROUP 9
TOTAL: 234 234 MONTH TO DATE: 5,094
JPMORGAN STOPPED 212/5094
JANUARY
GOLD: NUMBER OF NOTICES FILED FOR JANUARY/2026: 234 CONTRACTs NOTICES FOR 23,400 OZ or 0.7278 TONNES
total notices so far: 5094 contracts for 509,400 OR 15.844 tonnes)
FOR JANUARY
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SILVER NOTICES: 150 NOTICE(S) FILED FOR 0.750 MILLION OZ OZ/
total number of notices filed so far this month : 4697CONTRACTS (NOTICES) for 23.485 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 DOWN $38.50 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD
HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.00 TONNES OF GOLD INTO THE GLD
INVENTORY RESTS AT 1067.13 TONNES
SLV/
HUGE CHANGES:
WITH NO SILVER AROUND AND SILVER DOWN $ 2.78 AT THE SLV: A HUGE WITHDRAWAL OF 10.481 MILLION OZ OUT OF THE SLV
CLOSING INVENTORY RESTS AT:
CLOSING INVENTORY: 518.210 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY A HUGE SIZED 763 CONTRACTS TO 153,240 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITHE OUR HUGE $4.93 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 WHEN APPL;ICABLE) BUT WITH NO SUCCESS ON MONDAY WITH SILVER’S HUGE GAIN IN PRICE.
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 GIGANTIC SIZED GAIN OF 1667 TOTAL CONTRACTS ON OUR TWO EXCHANGES AS THE CME NOTIFIED US OF A HUGE SIZED 904 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE.. WE HAD ZERO LIQUIDATION OF T.A.S. CONTRACTS IN COMEX TRADING WITH RESPECT TO TUESDAY TRADING WITH OUR 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 $80.83 UP $4.93 . WE ARE NOW WITNESSING HAVING MANY HUGE T.A.S ISSUANCES // TODAY’S WAS AT A MAMMOTH SIZED 3511 T.A.S. CONTRACTS (AND A LITTLE 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 HUGE SIZED 904 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR HUGE SIZED 3511 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 MEGA HUGE SIZED GAIN OF 1667 CONTRACTS ON OUR TWO EXCHANGES WITH OUR GAIN IN PRICE OF $4.93. 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 STILL REMAIN STOIC EVEN ON OUR HUGE PRICE FALLS. EASTERN CENTRAL BANKER WENT TO THE LONG SIDE. THEY WILL TENDER FOR THE BADLY NEEDED PHYSICAL SILVER.
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 ONTUESDAY NIGHT//WEDNESDAY MORNING: A MAMMOTH SIZED 3511 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 JANUARY: 22.915 MILLION OZ FOLLOWED BY TODAY’S 1.165 MILLION OZ QUEUE JUMP//NEW STANDING ADVANCES TO 26.353 MILLION OZ//
WE HAD:
/MEGA MEGA HUGE SIZED COMEX OI GAIN+// A STRONG SIZED 700 EFP ISSUANCE CONTRACTS (/ VI) A MAMMOTH NUMBER OF T.A.S. CONTRACT ISSUANCE 2959 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED 362 SILVER CONTRACTS!!!!!
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS JAN.. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF JAN.
TOTAL CONTRACTS for 4 DAY(S), total 5734 contracts: OR 28.670 MILLION OZ (1433 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 28.050 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: 45.765 MILLION OZ
JANUARY 2026: 14.335 MILLION OZ
RESULT: WE HAD A MEGA HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 724 CONTRACTS WITH OUR GAIN IN PRICE OF $4.93 IN SILVER PRICING AT THE COMEX// TUESDAY,. THE CME NOTIFIED US THAT WE HAD A STRONG SIZED CONTRACT EFP ISSUANCE : 700 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 10 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 STRONG 835,000OZ QUEUE JUMP+ DEC. FIRST EXCHANGE FOR RISK 0F .850 MILLION OZ + LAST WEEK.S 495,000 OZ EXCHANGE FOR RISK AND THEN A 3RD ISSUANCE IF 1.00MILLION OZ THEN FINALLY DEC 249ISSUANCE OF 1.35 MILLION OZ EXCHANGE FOR RISK//NEW TOTAL EX FOR RIS IS 3.685 MILLION OZ // STANDING ADVANCES TO 68.415 MILLION OZ//
JANUARY: INITIAL STANDING 22.915 MILLION OZ FOLLOWED BY TODAY’S 1.165MILLION OZ QUEUE JUMP//STANDING ADVANCES TO 26.350 MILLION OZ//
THE NEW TAS ISSUANCE TUESDAY NIGHT (3511) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED NO DOUBT WITH FUTURE TRADING!!
WE HAD 150 NOTICE(S) FILED TODAY FOR 0.750 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 STRONG SIZED 7575 OI CONTRACTS UP TO 488,116 OI AND FURTHER FROM 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 SMALL AND CRIMINAL 282 CONTRACTS // MEGA HUGE GOVERNMENT REMOVALS//
WE HAD A STRONG GAIN IN COMEX OI (7575 CONTRACTS) . THIS OCCURRED WITH OUR HUGE GAIN OF $47.00 IN PRICE// TUESDAY///.
LAST 9 MONTHS OF GOLD DELIVERIES: (MAY THROUGH TO /DECEMBER 25 AND NOW JAN 26)
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 0.1335TONNE QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF: 37.163 TONNES//NEW STANDING ADVANCES TO 115.390 TONNES TO WHICH WE ADD OUR 4 EXCHANGE FOR RISK FOR DECEMBER OF 6.587 TONNES/NEW STANDING ADVANCES TO 121.977 TONNES
9. JANUARY: INITITAL STANDING: 13.785 TONNES TO WHICH WE ADD OUR HUGE QUEUE JUMP OF 0.702 TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 6.221 TONNES //NEW TOTAL QUEUE JUMP 7,433 TONNES//NORMAL DELIVERY OF GOLD ADVANCES TO 17.0699 TONNES TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK OF 3.447 TONNES//NEW STANDING ADVANCES TO 20.5169 TONNES.
E.F.P. ISSUANCE/FOR OPENING JANUARY GOLD CONTRACT
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 1310 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 488,116 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 153,240 CONTRACTS//
IN ESSENCE WE HAVE A STRONG SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 12,573 CONTRACTS WITH 7575 CONTRACTS INCREASED AT THE COMEX// AND A HUGE SIZED 5068 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 12,593 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A STRONG SIZED BUT CRIMINAL 2354 CONTRACTS AND THESE ISSUANCES ARE GENERALLY USED TO INITIATE A RAID WHEN CALLED UPON.
GOLD PRICE ON MONDAY ROSE BY $47.00
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS CONTRACT(5068) ACCOMPANYING THE STRONG GAIN IN COMEX OI OF 7575 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 12,593 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 JAN AT 13.285 PLUS OUR NEXT QUEUE JUMP OF 0.7020 WHICH FOLLOWS ALL OVER NEW TOTAL QUEUE JUMP OF 8.135 TONNES//NEW NORMAL DELIVERY OF 17.06 TONNES FOLLOWED BY OUR FIRST EXCHANGE FOR RISK OF 3.447 TONNNES//NEW STANDING ADVANCES TO 21.192 TONNES
NEW STANDING ADVANCES TO 21.192 TONNES.
NEW STANDING FOR GOLD, JANUARY CONTRACT AT 21.192 TONNES OF GOLD
3) ZERO T.A.S. LIQUIDATION (AND CONSIDERABLE GOVT LIQUIDATION // AND A STRONG GAIN OF EQUITY SHARES/JAN 2 AS WE HAD 1)A $47.00 COMEX PRICE GAIN AND WE HAD 2) NEWBIE SPEC SHORTS GETTING LIQUIFIED AND ON A NET BASIS, THE SPECS LOST HUGELY IN NUMBERS + EASTERN CENTRAL BANKERS WERE PILING INTO THE LONG SIDE AS WE HAD A STRONG SIZED GAIN OF 12,593 CONTRACTS ON OUR TWO EXCHANGES AND AS WELL A HUGE AMOUNT OF GOLD WILL STAND FOR DELIVERY IN JAN. (21.192TONNES). //, 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 WITH THE RISE IN PRICE FRIDAY
4)A FAIR SIZED COMEX OI LOSS 5) V) FAIR SIZED ISSUANCE OF EXCHANGE FOR PHYSICAL GOLD (1310) AND A STRONG T.A.S. ISSUANCE (2354) FOR RAID PURPOSES
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JAN :
TOTAL EFP CONTRACTS ISSUED: 10,308 CONTRACTS OR 1,030,800OZ OR 32.06TONNES IN 4 TRADING DAY(S) AND THUS AVERAGING: 2577 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN4 TRADING DAY(S) IN TONNES: 32.06 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2024, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 32.06 TONNES DIVIDED BY 3550 x 100% TONNES = 0.901% 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:2023 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 2024: 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
2025: AND NOW 2026
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: 190.04 TONNES//GOOD SIZED THIS MONTH FINAL.
TOTAL EXCHANGE FOR PHYSICAL ISSUED FOR YEAR 2025: 2,026.20 TONNES (LOWER THAN LAST YR 2,569.00 TONNES
JANUARY: 32.06TONNES
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 ROSE BY A HUGE SIZED 763CONTRACTS OI TO 153,240 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 904 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MAR 700 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 GAIN OF 763 CONTRACTS AND ADD TO THE 904 E.FP. ISSUED
WE OBTAIN A MEGA HUGE SIZED GAIN OF 1667 OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES WITH OUR GAIN OF $4.93 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 8.355MILLION 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 JAN 6/2025
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS WEDNESDAY MORNING.7:30 AM
SHANGHAI CLOSED UP 60.25 PTS OR 1.50%
//Hang Seng CLOSED UP 368.21 PTS OR 1.38%
// Nikkei CLOSED UP 681.20 PTS OR 1.31
//Australia’s all ordinaries CLOSED DOWN 0.57%
//Chinese yuan (ONSHORE) CLOSED DOWN TO 6.9840
/ OFFSHORE CLOSED DOWN AT 6.9797/ Oil UP TO 58.46 dollars per barrel for WTI and BRENT UP TO 62.04 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING DOWN TO 6.9840 OFFSHORE YUAN TRADING DOWN TO 6.9797/ONSHORE YUAN TRADING BELOW OFF SHORE AND DOWN ON THE DOLLAR// / AND THUS WEAK//OFF SHORE YUAN TRADING DOWN AGAINST US DOLLAR/ AND THUS WEAKER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A STRONG SIZED 7575 CONTRACTS TO 488,116 OI WITH OUR HUGE GAIN IN PRICE OF $47.00 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 STRONG NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (5068). WE HAD ZERO T.A.S. LIQUIDATION TUESDAY. IT SEEMS THAT THE SPECULATORS WENT MASSIVELY HUGE TO THE LONG SIDE WITH OUR FRBNY PROVIDING STILL THE MASSIVE 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 488,116 AND NOW AMPLE ENOUGH FOR A RAID BY OUR BANKERS LIKE LAST MONDAY. FROM CHINA WE LEARN THAT THE GOLD LEASE RATE IS NOW AROUND ONE TO 2 %
WE THUS HAD A TOTAL GAIN IN OI ON BOTH OF OUR EXCHANGES, THE COMEX AND LONDON’S EXCHANGE FOR PHYSICAL EQUATING TO 12,593 CONTRACTS (OR 39.16 TONNES). THEN WE WERE NOTIFIED OF ZER0 CONTRACT EXCHANGE FOR RISK ISSUANCE IN GOLD CONTRACTS FOR 0 OZ OR 0 TONNES OF GOLD. IN DECEMBER WE HAVE RECORDED 5 ISSUANCES OF EXCHANGE FOR RISK/4 FOR DEC AND THE LAST ONE ON DEC 31 FOR JANUARY. WE NOW HAVE 3 CHOICES 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 6.56 TONNES/4 OCCASIONS AND THEN ONE EARLY JANUARY: 3.446 TONNES)
HERE ARE THE CHOICES FOR THE RECIPIENT OF THOSE ISSUANCES:
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 6.56 TONNES AND THIS WAS ADDED TO OUR NORMAL DELIVERY TOTALS.. THE JANUARY ISSUANCE WILL BE ADDED TO OUR DAILY TOTALS!! (3.447 TONNES)
DETAILS ON OUR NEW JANUARY COMEX CONTRACT MONTH//
IN TOTAL WE HAD A STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 12,593 CONTRACTS WITH OUR HUMONGOUS 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 JANUARY/ 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 STRONG T.A.S ISSUANCE CONTRACTS. THE CME NOTIFIES US THAT THEY HAVE ISSUED 2354 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 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 0.1337 TONNES OF QUEUE JUMP WHICH FOLLOWS ALL OTHER NET QUEUE JUMPING OF 37.163 TONNES//STANDING ADVANCES TO 115.257 TONNES TO WHICH WE ADD OUR FOUR ISSUANCES OF EXCHANGE FOR RISK OF 6.559 TONNES/NEW STANDING IS THUS: 121.977 TONNES.
10. JANUARY 2026: INITIAL GOLD STANDING IS 13.785 TONNES TO WHICH WE ADD OUR NEWEST QUEUE JJUMP OF 0.702 TONNESS WHICH ADDED TO OUR ALL OTHER QUEUE JUMP OF 7.433 TONNES //NEW TOTAL QUEUE JUMP: 8.125TONNES (NORMAL STANDING ADVANCES TO 17.0699 TONNES) TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK OF 3.447 TONNNES/./NEW STANDING ADVANCES TO 21.192 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/PROBABLE THAT THE FED IS THE BUYER OF 10.006 TONNES OF EXCHANGE FOR RISK/DECEMBER/EARLY JANUARY!!
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 STRONG SIZED EXCHANGE FOR PHYSICAL OF 5068 CONTRACTS.
THAT IS A STRONG SIZED 5068 EFP CONTRACT WAS ISSUED: : /FEB 5068 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 5068 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 + AND DID HAVE HUGE GOVERNMENT LIQUIDATION
ZERO MONTH END SPREADERS LIQUIDATION!!. WILL NOT COMMENCE UNTIL THE END OF JANUARY..
T.A.S.SPREADER ISSUANCE//JANUARY
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/WEDNEDAY MORNING WAS A STRONG SIZED 2354 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 HUGE GAIN IN PRICE IN GOLD WITH A CORRESPONDING FAIR LOSS OF COMEX OI AND A FAIR EXCHANGE FOR PHYSICAL ISSUANCE.. (QUITE STRANGE)
.
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 0.XXXX TONNES QUEUE JUMP. THIS FOLLOWS ALL OTHER QUEUE JUMPING: 37.163 TONNES//NEW STANDING ADVANCES TO 115.390 TONNES TO WHICH WE ADD OUR FOUR EXCHANGE FOR RISK ISSUANCE OF 6.559 TONNES//NEW STANDING THUS INCREASES TO 121.977 TONNES
JANUARY: INITIAL GOLD STANDING 13.785 TONNES TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 0.702 TONNES TO ALLOTHER QUEUE JUMPS OF 7.433 TONNES/NEW TOTAL QUEUE JUMP 8.135NEW NORMAL STANDING INCREASES TO 17.745 AND THEN WE ADD OUR FIRST EXCHANGE FOR RISK OF 3.447 TONNES//NEW STANDING ADVANCES TO 21.192 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 JANUARY,. CONTRACT;
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $47.00/ /)
WE HAD ZERO T.A.S. SPREADER LIQUIDATION TUESDAY // 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 JANUARY IN AN OFF MONTH. THE COMEX IS ONE BIG MESS!!
TUESDAY NIGHT//WEDNEDAY 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 4 MONTHS:
STANDING FOR GOLD OCT THROUGH TO JANUARY:
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 0 CONTRACT QUEUE JUMP FOR NIL OZ OR 0.000 TONNES WHICH FOLLOWS OTHER DEC QUEUE JUMPS OF: 0 TONNES///STANDING ADVANCES TO 115.390 TONNES TO WHICH WE ADD OUR FOUR EXCHANGE FOR RISK ISSUANCE OF 6.559TONNES/NEW STANDING ADVANCES TO 121.977TONNES
4. NOW JANUARY:
AMOUNT STANDING FOR GOLD INITIALLY 13.7516 TONNES TO WHICH WE ADD OUR NEW QUEUE JUMP OF 0.7020 TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 7.433 TONNES: NEW QUEUE JUMPING FOR JAN: 8.135 //NEW NORMAL STANDING ADVANCES TO 17.745TONNES TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK OF 3.447 TONNES. NEW STANDING ADVANCES TO 21.192 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $47.00
WE HAD A SMALL 282 CONTRACTS REMOVED TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE .
NET GAIN ON THE TWO EXCHANGES : 12,593 CONTRACTS OR 1,259,300 OZ OR 39.16 TONNES
Total monthly oz gold served (contracts) so far this month
5094 notices 509,400 oz 15.844 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month
dealer deposits: 0
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DEPOSITS/CUSTOMER
DEPOSITS/CUSTOMER
0 ENTRIES
total deposit: NIL oz (
customer withdrawals:
0 ENTRIES
they are draining the comex of gold
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ADJUSTMENTs 1//dealer to customer Brinks’
i) 578.768 OZ
ii) Loomis 16,851..749 oz customer to dealer
chaos inside the comex
AMOUNT OF GOLD STANDING FOR DECEMBER
THE FRONT MONTH OF JANUARY STANDS AT 845 CONTRACTS FOR A LOSS OF 385 CONTRACTS.
WE HAD 611 NOTICES FILED ON TUESDAY, SO WE GAINED 226 CONTRACTS OR 22600 OZ (0.702TONNES) OF A QUEUE JUMP.
FEB LOST 1902 CONTRACTS DOWN TO 323,348 CONTRACTS
MARCH LOST 226 CONTRACTS UP TO 2576
We had 234 contracts filed for today representing 234,00 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices issued from their client or customer account. The total of all issuance by all participants equate to 212 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 234 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for JAN /2026. contract month, we take the total number of notices filed so far for the month (5094 ) to which we add the difference between the open interest for the front month of DEC ( 845CONTRACTS) minus the number of notices served upon today (234 x 100 oz per contract) equals 570,500OZ OR 17.745 Tonnes of gold to which we add our first exchange for risk in January of 3.447 tonnes//new standing advances to 21.192tonnes
thus the INITIAL standings for gold for the JAN contract month: No of notices filed so far (5094 x 100 oz +we add the difference for front month of JAN (845OI} minus the number of notices served upon today (234x 100 oz) which equals 570,500 OR 17.745TONNES plus our first exchange for risk of 3.447 tonnes//new standing advances to 21.192 tonnes
new total of gold standing in JANUARY is 21.192 tonnes
TOTAL COMEX GOLD STANDING FOR JANUARY ..: 21.192 TONNES TONNES WHICH IS STRONG FOR THIS NORMALLY VERY NON ACTIVE ACTIVE DELIVERY MONTH OF JANUARY.
volume TUESDAY confirmed 174,245 fair
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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: 1,967,592.462 oz 61.20 tonnes pledged gold lowers
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 36,403,451.805. oz
TOTAL REGISTERED GOLD 19,329,396.443 or 601.225 Tonnes
TOTAL OF ALL ELIGIBLE GOLD 17,074,035.302 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON 17,361.804oz ((REG GOLD- PLEDGED GOLD)=
540.025 Tonnes // (declining rapidly)
total inventories in gold declining rapidly
SILVER/COMEX
THE JANUARY. 2025 SILVER CONTRACTS
JAN 6.2026
INITIAL/
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
5 entries
i) Brinks 80,429,20 oz ii) HSBC 300,104,800 oz iii) JPMorgan 1,285,793.500 oz iv) Loomis 507,589,600 oz v) Stonex 3903,800 oz
total withdrawal: 2,228,215.121 oz
Deposits to the Dealer Inventory
1 ENTRY
i) Into CNT 598,431.350 oz total deposit 598,431.35 o
Deposits to the Customer Inventory
1 ENTRIES
i) CNT 4949.49 oz
total deposit: 4949.49 oz
No of oz served today (contracts)
150CONTRACT(S) ( 0.750 million OZ
No of oz to be served (notices)
574 contracts (2.87 MILLION oz)
Total monthly oz silver served (contracts)
4697contracts 23.485MILLION 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 CNT 598,431.350 oz
total deposit 598,431.35 oz
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DEPOSIT ENTRIES/CUSTOMER ACCOUNT
0 ENTRIES
i
withdrawals: customer side/eligible
5 entries
i) Brinks 80,429,20 oz ii) HSBC 300,104,800 oz iii) JPMorgan 1,285,793.500 oz iv) Loomis 507,589,600 oz v) Stonex 3903,800 oz
total withdrawal: 2,228,215.121 oz
adjustments: 00000/ dealer to customer
TOTAL REGISTERED SILVER: 127.180MILLION OZ//.TOTAL REG + ELIGIBLE. 445.737Million oz
registered silver dropping in numbers
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JANUARY
silver open interest data:
FRONT MONTH OF JANUARY /2026 OI: 724 OPEN INTEREST CONTRACTS FOR A LOSS OF 718 CONTRACTS. WE HAD 951 NOTICES FILED ON TUESDAY SO WE GAINED 233 CONTRACTS OR A STRONG 1.165 MILLION OZ QUEUE JUMP WHERE THEY WILL TAKE DELIVERY ON THIS SIDE OF THE POND.
FEB LOST 62 CONTRACTS DOWN TO 1859 CONTRACTS
MARCH GAINED 328 CONTRACTS UP TO 107,626
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 150 or 0.750 MILLION oz
CONFIRMED volume; ON TUESDAY 115,229 huge//
AND NOW JANUARY. DELIVERIES:
To calculate the number of silver ounces that will stand for delivery in JANUARY. we take the total number of notices filed for the month so far at 4697 X5,000 oz = 23.485 MILLION oz
to which we add the difference between the open interest for the front month of JANUARY (724) AND the number of notices served upon today (150)x (5000 oz)
Thus the standings for silver for the JANUARY 2026 contract month: (4697) Notices served so far) x 5000 oz + OI for the front month of JAN(724) minus number of notices served upon today (150x 5000 oz equals silver standing for the JANUARY.contract month equating to 26.350 MILLION OZ
NORMAL STANDING: 26.350 MILLION OZ WHICH IS HUGE FOR A GENERALLY SMALL DELIVERY MONTH OF JANUARY.
New total standing: 25.255 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 127.180 million oz of registered silver
JPMorgan as a percentage of total silver: 185.031/445.031million. 41.57%
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
JAN 7/2026/WITH GOLD DOWN $38.50 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.00 TONNES OF GOLD FROM THE GLD/// ///INVENTORY RESTS AT 1067.13 TONNES
JAN 6/2026/WITH GOLD UP $47.00 TODAY/BIG CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 5.43 TONNES OF GOLD OUT OF THE GLD// /// ///INVENTORY RESTS AT 1065.13 TONNES
JAN 5/2026/WITH GOLD UP $122.80 TODAY/BIG CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 5.43 TONNES OF GOLD OUT OF THE GLD// /// ///INVENTORY RESTS AT 1065.13 TONNES
JAN 2/2026/WITH GOLD DOWN $10.10 TODAY/BIG CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.43 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1070.56 TONNES
DEC 31/WITH GOLD DOWN $42.50 TODAY/SMALL CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.86 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1071,99 TONNES
DEC 30/WITH GOLD UP $41.50 TODAY/NO CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.86 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1071,99 TONNES
DEC 29/WITH GOLD DOWN $190.70 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.86 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1071,13 TONNES
DEC 26/WITH GOLD UP $39.15 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 3.61 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1068.27 TONNES
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
GLD INVENTORY: 1067.13 TONNES, TONIGHTS TOTAL
SILVER
JAN 7/WITH SILVER DOWN $2.78/HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 10.481 MILLION OZ OUT OF THE SLV OZ FROM THE SLV. /. ./ :INVENTORY RESTS AT 525.730 MILLION OZ //
JAN 6/WITH SILVER UP $4.93 /SMALL CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 363,000 OZ FORM THE SLV. /. ./ :INVENTORY RESTS AT 528.691 MILLION OZ //
JAN 6/WITH SILVER UP $4.93 /SMALL CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 363,000 OZ FORM THE SLV. /. ./ :INVENTORY RESTS AT 528.691 MILLION OZ //
JAN 5/WITH SILVER UP $5.90 /SMALL CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 363,000 OZ FORM THE SLV. /. ./ :INVENTORY RESTS AT 528.691 MILLION OZ //
JAN 2/WITH SILVER UP $0.22 /HUGE CHANGES IN SILVER AT THE SLV: A SMALL WITHDRAWAL OF 0.363 MILLION OZ OUT THE SLV/. ./ :INVENTORY RESTS AT 529.054 MILLION OZ //
DEC 31/WITH SILVER DOWN $6.41 /HUGE CHANGES IN SILVER AT THE SLV: A MASSIVE DEPOSIT OF 4.806 MILLION OZ INTO THE SLV/. ./ :INVENTORY RESTS AT 529.054 MILLION OZ //
DEC 30/WITH SILVER UP $6.89 /HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 2.72 MILLION OZ FROM THE SLV/. ./ :INVENTORY RESTS AT 524.248 MILLION OZ //
DEC 29/WITH SILVER DOWN $5.88 /HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 1.814 MILLION OZ FROM THE SLV/. ./ :INVENTORY RESTS AT 526,968 MILLION OZ //
DEC 26/WITH SILVER UP $4.88 /HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 1.813 MILLION OZ FROM THE SLV/. ./ :INVENTORY RESTS AT 528.782 MILLION OZ //
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
Stagnating economies, together with high government debt loads, inevitably create funding crises and debt traps. Nowhere is this problem more destructive than for the fiat dollar.
But it’s not just the dollar. Economies in the Eurozone and the UK have insufficient growth to support their colossal mountains of government debt. In this article, I explain the mechanics of a debt trap. And how a combination of rising interest rates reflecting growing risk and stagnating economies bring on debt traps, leading to yet higher interest rates making the situation even worse.
My memory is of the sterling crisis in 1976, when the IMF bailed out the British government, and the Bank of England had to fund medium-term debt with gilt coupons of over 15%. The Labour government was forced to cut its spending to resolve the situation. So I have a question for today: who is going to bail out first, the US Government, then the UK and Eurozone, and who is going to force them to cut spending on the edge of a recession?
Only the markets will do it: crisis first, and only if we are lucky, the solution follows. Read on…
Introduction
Understanding debt, the counterpart of credit, is of increasing importance. For example, it is the other side of bank credit, and when banks become overleveraged, there comes a time when their managers become concerned about the risk to their balance sheets. In any economy, the risk is conventionally understood to be in private sector lending, and a recession is part and parcel of the withholding of further credit, leading to corporate and personal insolvencies. Under these circumstances, banks redirect their balance sheet assets from private sector loans and corporate bonds to government debt, which is seen as the risk-free asset in any currency.
There are signs that, with respect to some jurisdictions, these views are evolving, with the outlook for government debt being examined more closely. There is also little confidence in economic prospects for all the major economies, improving government budgets.
Given mounting government debts, debt is a problem no longer confined to private sectors which have suffered from the generally unexpected rise in interest rates over the last few years. And governments in the advanced economies appear to have little sense of the debt trap being sprung upon them, too. As well as the rate of nominal GDP growth, the interest rate matters and a combination of slowing economies moving into recession together with high interest rates is a lethal combination for government finances.
More specifically than growth in GDP, what matters is the growth in tax revenue required to fund the pace at which the combination of debt and interest is being rolled over. In Europe and the UK, tax rates are already so high that attempts to obtain more revenue by increasing them will almost certainly lead to lower revenues due to the Laffer curve effect. The US is probably not at that point yet tax-wise, but economic stagnation has the same effect.
The following table illustrates government indebtedness relative to GDP for the G7 nations and also relative to private sector GDP, which produces the revenue for governments upon which debt credibility depends.
Various papers have been written on this problem, all concluding that a debt trap occurs when the rate of GDP growth falls to below the rate at which the cost of funding the debt increases. But it is surely more correct to compare the rate of increase of tax revenues with the rate of increase of the debt: do tax revenues increase more rapidly than the debt, or does the compounding debt increase more rapidly than revenues?
How did governments cut the debt-to-GDP ratio following WW2?
Much of the complacency over government debt levels arises from the fact that high WW2 debt levels were reduced over the following two decades to manageable levels, fuelling a belief that it can be done again. America’s government debt to GDP in 1946 peaked at 120%, below current peace-time levels, falling to 35% in 1971 when Nixon suspended the Bretton Woods Agreement. The relevant figures are shown in the table below.
The increase in gross Federal debt was 142%, but the increase in GDP was 483%. And the increase in revenue, which ultimately pays for the debt, was slightly more than the increase in GDP. Therefore, revenue growth outpaced debt growth nearly three and a half times, leading to a significant reduction in debt to GDP. This was how the war debt relative to GDP was reduced, before the discipline of gold on government spending and interest rates was finally abandoned.
The common belief that debt reduction was due to financial repression, that is to say, the cost of funding was suppressed by central bank interest rate policies and yield curve control, is incorrect. To understand why, we need to address another point. And that is what happened to prices. The dollar and through the dollar all other currencies were tied to gold at $35 for the whole 25 years, but the CPI for Urban Consumers rose from 22 to 40, nearly doubling at an average annual rate of about 0.7%. Yet, measured in gold there should have been no inflation, because the expansion of economic activity under a gold standard is expected to lead to better manufacturing processes, product improvements, and a tendency towards falling prices.
The problems with a CPI measure are many. Logically, there is no such thing as a statistical measure of price inflation, the subjectivity of which has been clearly demonstrated in more recent decades by wildly differing estimates. Government intervention in the economy distorts outcomes, and the savings rate fluctuated, but not enough to explain the disparity between a steady gold standard and a statistical outcome.
A cleaner price comparison is found in commodity prices. Oil was pegged at $2.57 per barrel, increasing to $3.56, which held until 1973: that’s a 38% increase compared with a near doubling of US consumer prices. Copper was similarly more stable priced in gold, as the next chart demonstrates.
That both copper and oil did increase in price by either measure in the post war years can be explained by demand increasing for these commodities more rapidly than supply. But this does not get round the fact that with the dollar supposedly acting as a gold substitute at a fixed value of $35 per ounce there is an unexplained disparity in consumer price performance. The answer is that the Bretton Woods system ended up suppressing the value of gold, evidenced by the selling down of US gold reserves from 21,828.2 tonnes in 1949, representing over 70% of global official reserves and 45% of total above-ground stocks, to 9,069.7 tonnes, less than 25% of global official reserves and only 12% of above-ground stocks in 1971.
The suspension of the Bretton Woods Agreement in August 1971, far from removing gold from the monetary system, had the effect of releasing gold from its increasing suppression by US economic policies in the post-war years. It is important to understand this relationship in its proper context, now that in this new millennium US Government debt is spiralling out of control.
This millennium is different from the post-war years
The next table replicates the first table in this article, but for the 25 years of this current millennium.
Here, we can see that gross debt has been rising nearly three times faster than GDP, and even more so measured in the federal government revenues which are behind the sustainability of the debt. With the increase in revenue badly lagging the debt increase, the US Treasury is in a classic debt trap, a condition which has been accelerating, particularly since the pandemic of 2020. It is a fact which is increasingly recognised by foreign central bankers who are getting out of dollars and into gold.
The second element of the debt trap – soaring interest rates
So far, we have seen that in the first 25 years of this new century, the increase in tax revenue has failed lamentably to keep pace with the increasing growth of debt. For the US Government, this has not mattered too much while the Fed was able to suppress interest rates even to the zero bound and therefore contain the compounding cost of funding. Additionally, with the dollar being everyone’s reserve currency, foreign buyers were always demanding them and investing in the regulatory “risk-free” status of US Treasury debt. It is this combination which has extended the dollar’s life as a fiat currency, pushing it even further into a debt trap waiting to be sprung by higher interest rates.
Interest rate suppression is less evident today, at least not to the degree of recent years. The sharp rise in interest rates and bond yields between2021—2023 have only partially been corrected in the belief that inflation has receded as a problem. This is an error, because the inflationary consequences of a $2+ trillion budget deficit and a decline in the personal savings rate will continue to feed into a falling purchasing power for the currency. And geopolitical factors encourage members of the Shanghai Cooperation Organisation and BRICS, representing a large majority of the world’s population, to reduce their dollar exposure as well.
Both these factors are feeding into an inevitable funding crisis for the US Government, as foreign buyers of US Treasury debt stay away, and in some cases are actually selling. And instead of interest rates and bond yields being under the control of the Fed, they will be exposed to the brutal consequences of falling market demand. A buyers’ strike by foreign investors at the margin is already forcing the US Treasury to fund itself in short-term T-bills, with auctions for longer maturities being generally avoided. Increasingly, the $38.6 trillion debt mountain sees longer maturities being replaced by T-bills as well. The whole maturity structure of US Treasury debt is changing, and it is not for the good.
The yield curve has begun to price in maturity risk, with the 30-year long bond yielding 68 basis points more than the 10-year note, and 127 bp more than the 6-month T-bill. But there is a further problem: in a debt trap, the higher the funding cost, the less attractive an investment proposition becomes, because the compounding pace at which the debt rises accelerates.
The consequences for the credit bubble
For every debt, there is a credit and in recent years significant quantities of this credit, has found its way into financial instruments, particularly equities. As the interest cost on this debt increases, the credit side of the bubble will burst. Today, the disparity between the returns on long maturity bonds and equities is at an all-time record, illustrated by the chart below:
It is worth taking time to study this chart closely. Not only is the excessive value of the S&P over the long bond greater than it has ever been, but it shows signs of going higher due to rising bond yields. This will only be resolved by an equity crash to rival or even exceed anything seen in history.
It is hardly a surprise that gold measured in dollars is rising at an accelerating rate. It reflects and signals that a final collapse in the dollar’s credibility as a currency is underway.
Here I am again, sunk deep into the armchair with a generous measure of Lagavulin 16, the sort of whisky that smells like a bonfire on a Hebridean beach and tastes like it has seen some things. A modest splash of water has opened it up nicely, releasing those smoky ghosts, and I find myself grinning at the sheer cosmic comedy of the last forty-eight hours. China has, with all the fanfare of a librarian clearing her throat, quietly banned the export of silver slag.
Silver slag. Not enriched uranium, not rare-earth magnets, not even the good pork scratchings. Slag. The ashy, metallic dregs left over when you’ve finished smelting something more interesting. Western refineries treat it like the leftover curry in the fridge: not glamorous, but it still makes a perfectly decent lunch if you heat it up properly. Roughly seventy percent of the industrial silver that ends up in solar panels, iPhones and those shiny new AI data centres starts life as someone else’s rubbish that China kindly agreed to send us. Until, that is, last week, when Beijing looked at the order book, shrugged, and said “Nah, we’re keeping it.”
You see, the Masters of the Universe of Wall Street, who sit in glass towers along the Hudson have spent decades playing an enormously expensive game of Whack-a-Mole with the price of silver. Every time the metal threatens to reflect the true absurdity of printing trillions of dollars as though they were parking tickets, the banks simply sell a few hundred million ounces of paper silver on the Comex. It doesn’t matter that the actual physical metal is scarcer than an honest expense claim in Congress; the paper avalanche keeps the price politely subdued, inflation looks tame, and the dollar continues to swagger about as the world’s reserve currency. It is a trick so old it has its own beard.
Unfortunately their cunning plan rather depended on an endless supply of real silver turning up to honour the occasional awkward delivery request. For years China has been the obliging chap in the corner who keeps topping up the punch bowl with slag. Now China has taken the ladle home, and the punch bowl is looking alarmingly empty.
Picture the scene on the trading floors. Highly paid gentlemen in pastel shirts are suddenly discovering that the mountain of short positions they have sold is backed by, well, thin air and the vague promise that more slag would arrive next Tuesday. Except next Tuesday just rang to say it’s staying in Guangzhou and might pop round in 2028 if it feels like it. The spot price is already doing cartwheels, backwardation is wider than a banker’s bonus, and somewhere in the basement vaults of the Comex the last lonely bars are huddled together whispering, “We’re going to need a bigger boat.”
Meanwhile, across the Pacific, Chinese industrialists and ordinary citizens alike are being handed shiny new paint tins and brushes with a polite note: “Please feel free to redecorate the world financial system in whatever colours you fancy. We recommend something in matt yuan with gold trim.” Domestic refineries will now process every last gram of that erstwhile slag into proper silver, solar-panel manufacturers will pay in renminbi, and the central bank quietly adds another few thousand tonnes to the reserves that nobody admits exist. It is all terribly civilised.
Should the Comex actually run out of deliverable metal, and it is closer than most realise, the Bankers face a choice worthy of a Greek tragedy written by the Marx Brothers. They can default on contracts, which would rather spoil the reputation of the world’s deepest, most liquid futures market. Or they can settle in cash at whatever eye-watering price the market decides silver is really worth that morning, probably sometime around breakfast in Shanghai. Either way, several large banks will require new balance sheets, possibly printed on softer paper suitable for other uses.
At which point the Federal Reserve will ride to the rescue, because that is what it does. It will create several hundred billion fresh dollars, or possibly a trillion if the banks have been especially naughty, and hand them over with the weary air of a parent who has just discovered the teenagers threw another party while they were at the shops. Inflation will no longer be a polite fiction debated by economists; it will be the elephant doing the tango in the living room. Foreign holders of dollars, already jumpy since the asset-freezing antics of recent years, will stampede toward anything that cannot be printed over a long weekend. Gold, silver, yuan, seashells, Beanie Babies, whatever looks less inflatable.
And that, dear reader, is how a ban on exporting what is essentially metallic crumbly rubbish becomes the silk-covered crowbar that prises open the dollar’s seventy-year grip on the world. China does not need to fire a shot. It simply stops posting the West its leftovers and watches the Bankers discover they have painted themselves into a corner using glue labelled “infinite leverage.”
Somewhere in Manhattan a risk manager is staring at a Bloomberg screen, turning the colour of over-milked tea, while in Beijing a refinery worker clocks off early because the slag pile is now a national strategic resource and deserves a decent night’s sleep.
It is, when you think about it, the most gloriously passive-aggressive piece of economic warfare since someone invented the tariff. The rest of us can only sit back with a decent whisky and marvel at how the mighty are being undone by rubbish. Beautiful, glittering, expensive rubbish. I’ve always said that the Chinese are clever buggers, and here they are, using an iron fist in a velvet glove to destroy the US dollars grip on global trade. Clever buggers indeed.
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ASIA RESULTS; TUESDAY JAN 6/2026
SHANGHAI CLOSED UP 60.25 PTS OR 1.50%
//Hang Seng CLOSED UP 368.21 PTS OR 1.38%
// Nikkei CLOSED UP 681.20 PTS OR 1.31
//Australia’s all ordinaries CLOSED DOWN 0.57%
//Chinese yuan (ONSHORE) CLOSED DOWN TO 6.9840
/ OFFSHORE CLOSED DOWN AT 6.9797/ Oil UP TO 58.46 dollars per barrel for WTI and BRENT UP TO 62.04 Stocks in Europe OPENED ALL GREEN
ONSHORE USA/ YUAN TRADING DOWN TO 6.9840 OFFSHORE YUAN TRADING DOWN TO 6.9797/ONSHORE YUAN TRADING BELOW OFF SHORE AND DOWN ON THE DOLLAR// / AND THUS WEAK//OFF SHORE YUAN TRADING DOWN AGAINST US DOLLAR/ AND THUS WEAKER
END
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS WEDNESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN AT 6.9840
OFFSHORE YUAN: DOWN TO 6.9797
HANG SENG CLOSED UP 363.21 PTS OR 1.38%
2. Nikkei closed UP 681.20 PTS OR 1.31%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX UP TO 98.11 /// EURO FALLS TO 1.1713 DOWN 1 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +2.131// UP 2 FULL BASIS PTS/ VERY TROUBLESOME//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 156.43… 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: 3.497 UP 3 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: DOWN OFFSHORE: DOWN
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and UP FOR DOWN this morning
3h European bond buying continues to push yields LOWER on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.8614 Italian 10 Yr bond yield DOWN to 3.517 SPAIN 10 YR BOND YIELD DOWN TO 3.291
3i Greek 10 year bond yield DOWN TO 3.467
3j Gold at $4450.00 Silver at: 77.85 1 am est) SILVER NEXT RESISTANCE LEVEL AT $80.00
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 5 /100 roubles/dollar; ROUBLE AT 80.81
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 156.43 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 2.131% STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE IS NOW UNWINDING//YEN BOND TRADING OVERSEAS REPATRIATED.//JAPAN 30 YR: 3.497 UP 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 0.7925 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9827well 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: 4.180 UP 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.874 UP 3 BASIS PTS/
USA 2 YR BOND YIELD: 3.467 UP 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 43.03 UP 1 BASIS PTS/LIRA GETTING KILLED
10 YR UK BOND YIELD: 4.5160 UP 1 PTS
30 YR UK BOND YIELD: 5.258 UP 1 BASIS PTS
10 YR CANADA BOND YIELD: 3.421 DOWN 5 BASIS PTS
5 YR CANADA BOND YIELD: 2.945 DOWN 5 BASIS PTS.
1a New York OPENING REPORT
1b European report
1c Asian report
Europe Market Open: Venezuela to turn over 30-50mln barrels of oil to the US; European equity futures point to a mixed open – Newsquawk European Opening News
Wednesday, Jan 07, 2026 – 01:33 AM
APAC stocks traded somewhat mixed as momentum began to wane despite the fresh record levels on Wall Street.
Nikkei 225 lagged amid Japan’s frictions with China after the latter imposed export controls on dual-use items to Japan.
Spot gold pulled back from resistance at the USD 4,500/oz level, with some mild selling pressure seen across the commodities complex.
US President Trump announced that Venezuelan authorities will be turning over 30mln-50mln barrels of oil to the US.
Russia sent a submarine to escort a tanker the US tried to seize off Venezuela, according to WSJ.
Looking ahead, highlights include German Retail Sales (Nov), Italian CPI Prelim (Dec), Eurozone HICP Flash (Dec), US ADP, ISM Services PMI (Dec), JOLTS (Nov), Comments from Fed’s Bowman, Supply from Germany & UK.
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
US TRADE
EQUITIES
US stocks advanced on Tuesday with broad-based gains as all indices closed higher, with the Russell and Equal Weight S&P outperforming. Sectors were also predominantly firmer with Health Care, Materials and Industrials leading the advances, while Energy and Communication Services were lower.
NVIDIA (NVDA) closed in the red despite some optimistic commentary from the CEO and CFO, but with weakness still attributed to uncertainty around H200 China orders being approved. Energy stocks tracked crude prices lower, giving up some of Monday’s gains in what has been a volatile start to the year for crude, with recent downside stemming from optimism surrounding Russia/Ukraine peace following a positive meeting on security guarantees between the US, EU and Ukraine, although we are still awaiting Russia’s response.
SPX +0.62% at 6,945, NDX +0.94% at 25,640, DJI +0.99% at 49,462, RUT +1.37% at 2,583.
Chinese Foreign Minister Wang Yi said China seeks discussions with the EU on a free trade agreement.
Japanese Chief Cabinet Secretary Kihara said China’s curbs targeting only Japan are regrettable, and they will consider the necessary response as they assess China’s export curb details.
NOTABLE HEADLINES
US President Trump said that if they do not win the midterms, he will be impeached. Trump also said that health insurance premiums are horrible, and he will meet with 14 insurance companies in a few days.
Fed Discount Rate Minutes stated that in December, the FOMC approved a 25bps cut in rate on discounts and advances made under the primary credit programme, while it noted that the directors of Federal Reserve Banks of New York, Philadelphia, St. Louis and San Francisco had voted to establish a decrease in the primary credit rate.
APAC TRADE
EQUITIES
APAC stocks traded somewhat mixed as momentum began to wane despite the fresh record levels on Wall Street.
ASX 200 marginally gained amid strength in tech and defensives, while participants also digested monthly inflation data, which printed softer-than-expected but remained sticky.
Nikkei 225 lagged amid Japan’s frictions with China after the latter imposed export controls on dual-use items to Japan.
Hang Seng and Shanghai Comp retreated with the Hong Kong benchmark pressured by losses in energy names and tech stocks following a decline in oil prices, and with platform names pressured by China announcing management measures for online platforms. Meanwhile, the mainland bourses kept afloat for most of the session but eventually faltered as the mood deteriorated and were also not helped by a substantial net liquidity drain of around CNY 500bln in the PBoC’s open market operations.
US equity futures lacked direction with index futures pausing following their recent rally.
European equity futures indicate a marginally positive cash market open with Euro Stoxx 50 futures up 0.1% after the cash market eked gains of 0.1% on Tuesday.
FX
DXY slightly softened and took a breather after the prior day’s rebound, which was facilitated by Treasury yields, while catalysts for the dollar remained sparse ahead incoming labour market data beginning with ADP and JOLTS numbers later today, although there were some prior from Fed’s Miran and Barkin in which the former reiterated his usual uber-dove tones, while the latter said that the current policy rate is within the range of neutral. DXY found overnight resistance at its 100 DMA (98.60).
EUR/USD saw some slight reprieve after trickling lower yesterday, with the single currency not helped by a slew of data, including softer-than-expected German inflation and a miss on EZ Services and Composite PMIs, while participants await further economic releases including the latest EZ inflation figures.
GBP/USD marginally rebounded after having tested the 1.3500 level to the downside on Tuesday, despite better-than-expected UK Services PMI data and reports that the government is talking to the hospitality sector about more support, while the calendar for the UK is light this week with no major tier-1 releases from the UK.
USD/JPY lacked firm direction in the absence of any key data or fresh pertinent catalysts for the Japanese currency, and with mild pressure seen as risk appetite began to sour.
Antipodeans ultimately strengthened with AUD/USD the outperformer after reversing the initial knee-jerk move lower seen following softer-than-expected monthly inflation, as the headline figure and the core reading all remained sticky and above the 2-3% target.
FIXED INCOME
10yr UST futures marginally rebounded after declining yesterday on corporate issuances and a record Fed Funds block sale, while the attention turns to several incoming data releases, including labour market proxies ahead of Friday’s NFP report.
Bund futures held on to the prior day’s spoils following soft German inflation data, but with further upside limited as EUR 6bln of Bund issuances loom.
10yr JGB futures kept afloat in choppy price action amid the downbeat mood in Japan and the absence of relevant data.
COMMODITIES
Crude futures declined following recent Ukraine-related optimism, and with selling further exacerbated after US President Trump announced that Venezuelan authorities will be turning over 30mln-50mln bbls of oil to the US.
US President Trump posted “Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America. This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States! I have asked Energy Secretary Chris Wright to execute this plan, immediately. It will be taken by storage ships, and brought directly to unloading docks in the United States.”
US Energy Secretary Wright has been in contact with oil executives this week over the phone, and will be meeting face-to-face with executives from Wednesday, during which they will discuss Venezuela, according to FBN. Furthermore, oil CEOs were expected to visit the White House on Thursday for a meeting on Venezuela, although POLITICO later reported that President Trump is to meet with oil execs regarding Venezuela on Friday.
US Private Inventory Data (bbls): Crude -2.8mln (exp. +0.5mln), Distillate +4.9mln (exp. +2.1mln), Gasoline +4.4mln (exp. +3.2mln), Cushing +0.7mln.
Spot gold pulled back from resistance at the USD 4,500/oz level, with some mild selling pressure seen across the commodities complex as Shanghai and LME trade got underway.
Copper futures tested the USD 6/lb level to the downside as risk momentum in the Asia-Pac region gradually waned.
CRYPTO
Bitcoin retreated overnight with prices back beneath the USD 93,000 level.
NOTABLE ASIA-PAC HEADLINES
China announced management measures for online platforms, with the market regulator stating that online platforms must not sell below cost or disrupt market competition.
DATA RECAP
Australian CPI YY (Nov) 3.40% vs. Exp. 3.60% (Prev. 3.80%)
Australian RBA Trimmed Mean CPI YY (Nov) 3.2% vs. Exp. 3.2% (Prev. 3.3% )
Australian Building Permits MM (Nov P) 15.2% vs. Exp. 2.0% (Prev. -6.4%)
GEOPOLITICS
VENEZUELA
US President Trump is pressing Venezuela to dismiss agents from China, Russia, Iran and Cuba, according to Axios.
US President Trump’s administration warned Venezuela’s Interior Minister to cooperate or face potential targeting.
Russia sent a submarine to escort a tanker the US tried to seize off Venezuela, according to WSJ.
RUSSIA-UKRAINE
Ukrainian President Zelensky said they had concrete discussions with the US on ceasefire monitoring, and the issue of territory still needs to be sorted, although some ideas on the territorial issue were discussed.
Ukraine, France and Britain signed a declaration of intent on future multinational force deployment in Ukraine.
US envoy Witkoff said the Paris coalition of the willing talks showed strong collaboration and made significant progress on key workstreams, including a bilateral security guarantee framework and a prosperity plan. He also stated that durable security guarantees and prosperity commitments are vital for Ukraine’s peace, with talks continuing into Wednesday. Furthermore, Witkoff thinks they are largely finished on security guarantees and protocols, and are close to finishing off a robust prosperity agreement for Ukraine.
EU’s Costa said they held a productive meeting of the coalition of the willing to advance support for Ukraine, and the EU will contribute to security guarantees Ukraine needs for a long-lasting peace agreement, while he added that they will assist with civilian and military EU missions on the ground.
UK PM Starmer said following a ceasefire, the UK and France will build military hubs in Ukraine.
French President Macron said the US has clarified its role in Ukraine, including frontline monitoring and confirmed a US backstop.
Italian PM Meloni said coalition members agreed on the need to sustain pressure on Russia, while she added that talks show unity among Ukraine, the US and the EU on a long-term security framework.
Polish PM Tusk said there is no expectation for Polish troops to be deployed in Ukraine under security guarantees being discussed, and Ukraine is ready to compromise, or at least is talking seriously about a compromise. Furthermore, he said the task is to maintain full solidarity in transatlantic pressure on Russia, and that unity between Europe and the US seemed to be assured.
OTHER
US Secretary of State Rubio told lawmakers that US President Trump aims to buy Greenland, and downplayed military action, according to WSJ.
US senior official said the issue of a US acquisition of Greenland is “not going away” and President Trump is eager for a deal despite objections from NATO leaders, with Trump and his team discussing a range of options for acquiring Greenland and ‘utilising the US military is always an option’. Furthermore, it was said that Trump and his advisers are discussing options, including purchasing the territory from Denmark or forming a compact of free association with the island, while he would like to acquire Greenland during his current term in office and has made it clear that acquiring Greenland is a ‘national security priority’.
China’s Taiwan Affairs Office named two people to be punished for Taiwan independence activities, while it stated the people, as well as their relatives, are banned from entering the mainland, Hong Kong and Macau.
EU/UK
NOTABLE HEADLINES
Italian PM Meloni plans an overhaul of Italy’s voting system to aid a re-election bid, according to FT.
2a NORTH AND SOUTH KOREA
2b. JAPAN
3. CHINA/
4 EUROPEAN/NATO AFFAIRS/SCANDINAVIA
EU
GERMANY
5. RUSSIA AND MIDDLE EASTERN AFFAIRS
tbn israel last 24 hrs…
ISRAEL VS HAMAS
IRAN
RUSSIA VS UKRAINE
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUE
The Heart Of The Matter: Cardiac Risks Of COVID-19 Vaccines
Evidence continues to mount indicating that the global response to the Covid-19 pandemic was counterproductive and harmful, yet mainstream opinion continues to proclaim that it was a triumph.
This is based on scientific papers that often manipulate the data or present it selectively
Exhibit 1: Cohort study of cardiovascular safety of different Covid-19 vaccination doses among 46 million adults in England by Ip et al. The authors conclude that ‘the incidence of common arterial thrombotic events (mainly acute myocardial infarction and ischaemic stroke) was generally lower after each vaccine dose, brand and combination’ and ‘the incidence of common venous thrombotic events (mainly pulmonary embolism and lower limb deep venous thrombosis) was lower after vaccination.’
This seems to be a straightforward outcome, based on a most inclusive sample – the whole population of England. However, Table 2 shows incidence rates of cardiovascular events were substantially higher (nearly double for arterial events) after the first dose of the Pfizer and AstraZeneca vaccines, compared to no vaccination:
This contradicts the text: ‘The incidence of thrombotic and cardiovascular complications was generally lower after each dose of each vaccine brand.’ Of course, ‘generally’ is a weasel word. It means that the incidence of complications after each dose was lower except where it was higher. Incidence rates for the Moderna vaccine were indeed much lower at least in the medium term (up to 26 weeks) but rates for AstraZeneca and Pfizer were much higher.
Incidence rates after the second dose were indeed ‘generally’ lower in the tables. But Supplementary Table 3 reveals that the definition of ‘no vaccination’ for Dose 2 in fact means the interval between a first dose and a second dose. The largest increases in incidence rates are for the Pfizer and AstraZeneca Dose 1 vaccination groups, the only cohorts compared with a true vaccination naïve control group.
Supplementary Table 4 shows substantial increases in incidence rates for Dose 1 broken down for all eleven cardiac events measured (and two composites).
Returning to Table 2, the vaccinated group and the unvaccinated groups have comparable numbers of events, but the vaccinated groups are calculated with reference to approximately half the number of person years. If we apply the incidence rates to the numbers of people in each group (at the top of Table 1), we can calculate vaccination with the AstraZeneca and Pfizer vaccines brought about in the region of 91,000 additional serious cardiac events (euphemistically described as ‘complications’) compared to the no vaccination group in a little over one year. On the other hand, the Moderna group experienced over 34,000 fewer events compared with the no vaccination group, leading to an overall balance of around 56,000 additional events. How many of the individuals who had additional heart attacks, strokes, and thromboses subsequently died? The results are shocking, but after further processing we are told they are ‘reassuring.’
To obscure the alarming results, the text relies not on the straight incidence rates but on hazard ratios ‘adjusting for a wide range of potential confounding factors.’
It is not apparent why any adjustment was necessary. On the one hand, ‘There were few differences between subgroups defined by demographic and clinical characteristics,’ and on the other hand, ‘we addressed potential confounding by adjusting for a wide range of demographic factors and prior diagnoses.’ Were there significant differences in demographics or weren’t there?
Further on, we are told that ‘Subgroup analyses by age group, ethnic group, previous history of the event of interest and sex were conducted’ and outcomes ‘were generally similar across subgroups.’ What were the potentially confounding factors that had to be adjusted for if not these? How could an incidence rate of approximately 1.9 for the Pfizer Dose 1 arterial events be adjusted to a hazard ratio of 0.9?
If an adjustment leads to the reversal of findings of this magnitude, then it must be done transparently and with full substantiation. Without further explanation, the adjustment seems extraordinary and unjustifiable if outcomes were similar across subgroups and no differentiating factor is identified. They are statistical artefacts of low credibility and should not be used to guide policy.
This is a well-established academic trope – something that seems on the face of it to be black is not really black, but when ‘adjusted’ in an undisclosed and untransparent way has many white characteristics.
Table 2 compares the ‘primary course’ rates with the ‘after booster vaccination’ rates, where the Pfizer incidence rates are again higher for this last dose in the series, compounding the primary dose increase. I would have thought the authors should have commented on this, given that it contradicts the conclusions of the paper. This rise in the rate for vaccinated individuals with subsequent vaccinations is unlikely to be and is not in fact explained by confounding factors. We are told that both second dose-vaccinated and booster-vaccinated cohorts were older than the first dose cohort, so age does not seem to explain the rise. Other confounding factors are not revealed. Did they exist for any of the cohorts?
The authors also resort to breaking the data down into slices (dose by dose) in a way which prioritises the micro over the macro perspective, and obscures strategic synthesis.
After three doses (including boosters), how did the incidence rates of the vaccinated groups compare with that of the unvaccinated groups in toto, over the whole study period? Were they higher or lower overall? This is not revealed. What about after a year? Two years? Three years? Why are the Moderna rates so much lower, and why do they not discuss this? On the basis of the figures in the table, repeated doses of the Pfizer and AstraZeneca vaccines pose unacceptable risks. Yet these were the main vaccines deployed in England in this period, approximately 90% of the total.
But on the basis of these misleading and selected statistics, unasked and unanswered questions, the authors triumphantly conclude:
These findings, in conjunction with the long-term higher risk of severe cardiovascular and other complications associated with COVID-19, offer compelling evidence supporting the net cardiovascular benefit of COVID vaccination.
This is a whitewash. Their unadjusted data show the reverse – most Covid-19 vaccinations increased cardiac risks. The fact that the authors studiously refrain from referring to or discussing the markedly adverse incidence ratios after vaccination is strongly indicative of bias, although at least they included them in the tables, taking a risk that close readers might notice their significance.
Many other studies perpetuate the whitewash, based on a zero-sum assumption that there are two mutually exclusive groups: unvaccinated people who fall victim to Covid-19 and vaccinated people who don’t.But the Cleveland Clinic preprint by Shrestha et al found that:
Consistent with similar findings in many prior studies…a higher number of prior vaccine doses was associated with a higher risk of COVID-19. The exact reason for this finding is not clear. It is possible that this may be related to the fact that vaccine-induced immunity is weaker and less durable than natural immunity….Thus, the short-term protection provided by a COVID-19 vaccine comes with a risk of increased susceptibility to COVID-19 in the future.
They reached the same conclusion in their peer-reviewed report on the effectiveness of the 2019 bivalent vaccines: ‘The risk of Covid-19 also increased with time since the most recent prior Covid-19 episode and with the number of vaccine doses previously received.’
Studies which show that vaccinated groups have much lower rates of infection than unvaccinated groups are usually founded on the ‘case-counting window bias,’ as explained in the peer-reviewed report on the Italian region of Emilia-Romagna by Alessandria et al. The vaccinated have lower numbers of infections in a defined window of time, but not necessarily beyond it. By contrast, the Cleveland Clinic studies above use a longer and additive timeframe, and Ip et al do not seem to exclude the first 14 days, which is a strength of their base statistics.
There is the risk that both the vaccines and the virus might cause similar harms to the cardiovascular system. Jean Marc Sabatier of Aix-Marseilles University has been warning against this from early in the pandemic. In 2021 he and his colleagues published a peer-reviewed paper: The Renin-Angiotensin System: A Key Role in SARS-CoV-2-Induced COVID-19.
The paper explains:
In fact, the viral entrance promotes a downregulation of ACE2 followed by RAS balance dysregulation and an overactivation of the angiotensin II (Ang II)–angiotensin II type I receptor (AT1R) axis, which is characterized by a strong vasoconstriction and the induction of the profibrotic, proapoptotic and proinflammatory signalizations in the lungs and other organs. This mechanism features a massive cytokine storm, hypercoagulation, an acute respiratory distress syndrome (ARDS) and subsequent multiple organ damage.
The model is depicted in Figure 1:
While the paper focuses almost entirely on Covid-19, the disease, the implications of the model go to risks of the vaccine also. This is cautiously slipped into the explication of Figure 1 (my italics): ‘during SARS-CoV-2 infection or upon receiving a spike protein-based vaccine, the viral Spike (S) glycoprotein binding to ACE2 receptor induces overactivation of the ACE/Ang II/AT1R axis.’
So, we must consider the risk that as well as the SARS-CoV-2 virus, some (if not all) vaccines might also induce overactivation of the ACE2 receptor and consequently the renin angiotensin system. There is no proof that they do, but there is equally no proof that they do not, and the model fits well with the Ip data on cardiovascular event incidence levels for the Pfizer and AstraZeneca vaccines (but not with the favourable Moderna figures – what is different about the Moderna vaccine?).
This would be an issue under any scenario, but even more so if incidence of Covid-19 increases with the number of vaccine doses previously received. The vaccinated can be repeatedly challenged by the spike protein both in the form of the virus and in the form of the vaccines as well. The risks from infection are not obviated – the risks of vaccinations are added to them, not substituted for them.
There has been a torrent of papers on the effects of Covid-19 vaccination, focusing on these limited windows of effectiveness. They display strong confirmation bias – data and findings apparently supporting effectiveness are welcomed with open arms despite obvious flaws, findings that overtly cast doubt on effectiveness or safety are vigorously contested and often succumb to a campaign to have them retracted. If the data are unfavourable, better to ‘adjust’ them so you can reverse the conclusions. This constitutes scientific misinformation.
Although pro-vaccine papers sometimes have sophisticated technical values, they show little capability for strategic thinking.
Which is the preferable and lowest-risk strategy over the timeframe of the pandemic crisis:
Undergoing multiple vaccinations of short-term effectiveness
Minimizing exposure to the spike vaccine?
The scientific literature simply does not test this strategic comparison by comparing overall outcomes for the vaccinated from the point of vaccination to the end of the pandemic crisis period, compared with the truly unvaccinated. But what we do know from the Ip population-level study of England is that Dose 1 for the two most commonly used vaccines increased 11 out of 11 cardiac events and a booster increased both arterial and venous events again for the Pfizer vaccine.
Individuals should be free to make the strategic choice, guided by their health professionals, and should not be coerced to follow the first strategy through mandates. Mandates should not risk creating severe adverse outcomes on a mass scale.
Actors Isiah Whitlock Jr. (The Wire), Yuen Cheung-yan, Jasen Kaplan, Pat Finn (C), Bret Hanna-Shuford (C); Tommy Lee Jones’ daughter (34); Tatiana Schlossberg (JFK’s granddaughter, 35, C); & more
Isiah Whitlock Jr dies aged 71: The Wire and Veep actor with iconic catchphrase dies after battling a short illness
December 30, 2025
Actor Isiah Whitlock Jr – whose starring role in The Wire launched an iconic catchphrase – has died aged 71. Whitlock Jr was best known for his recurring roles in Law & Order and Veep as well as being a regular in Spike Lee films.
Yuen Cheung-yan dead: Matrix and Charlie’s Angels legend dies aged 69
January 2, 2026
Yuen Cheung-yan has passed away at 69. The action choreographer, who starred in Stephen Chow’s 2004 blockbuster Kung Fu Hustle, died in hospital on New Year’s Day, film director and actor Lee Lik-chi revealed on his Weibo page Thursday. He also confirmed a funeral service will take place on February 1, though no additional information was provided regarding the cause of the Hollywood actor’s death.
Finding Prince Charming star Jasen Kaplan dead at 46
January 2, 2026
Finding Prince Charming star Jasen Kaplan has died at the age of 46 – only weeks after the ‘sudden’ passing of his former castmate Chad Spodick [reported last month]. Kaplan passed away at a hospital in New York City on December 31, Page Six reported on Thursday. The NYPD also told the outlet that an investigation is currently underway in regards to the death of a 46-year-old male at the late star’s apartment building while the chief medical examiner will determine Kaplan’s cause of death. The TV personality had appeared on season one of the reality dating series when it first aired in 2016 – but was eliminated during week two.
Researcher’s note – Kaplan committed suicide: Authorities listed Kaplan’s “blunt impact injuries of torso and extremities” as the cause of his death, per TMZ. Sources also told the outlet that the injuries were “consistent with a fall from height”: Link
Pat Finn, who appeared in ‘The Middle,’ ‘Friends’ and ‘Seinfeld,’ dead at 60
December 24, 2025
Los Angeles, CA – Actor and comedian Patrick Finn, best known for his role in ABC’s “The Middle,” has died, according to a statement from his family. Finn, 60, died on Dec. 22 following a three-year battle with cancer, which had been in remission but then returned. ”Seinfeld” fans knew Finn as Joe Mayo, a character in the episode “The Reverse Peephole,” while “Friends” fans would remember him as Dr. Roger, Monica’s boyfriend in the episodes “The One That Could Have Been, Part 1” and “The One That Could Have Been, Part 2.” Finn also appeared in films like “Dude, Where’s My Car” and “It’s Complicated,” and was an adjunct professor at the University of Colorado and his alma mater, Marquette University.
Researcher’s note – If Finn was teaching at the University of Colorado between the fall of 2021 and early summer of 2023, he would have been subject to their COVID “vaccination” mandate: Link
Broadway actor Bret Hanna-Shuford has died of a rare form of cancer, his husband has confirmed. Writing on the Instagram accountBroadway Husbands, which the pair ran together, Stephen Hanna-Shuford said that Bret died “surrounded by his family” early Saturday morning. Hanna-Shuford was diagnosed with T-cell lymphoma and the immune condition hemophagocytic lymphohistiocytosis over the summer.
Tommy Lee Jones explained why he once ‘fired’ daughter Victoria before her sudden death aged 34
January 2, 2026
No Country for Old Men actor Tommy Lee Jones once shared fond memories of working with his daughter, Victoria, ahead of her suddendeath this week at the age of 34. Victoria Jones is reported to have died at the Fairmont hotel in San Francisco in the early hours of New Year’s Day, with the San Francisco Fire Department confirming that paramedics responded to a call at the hotel’s address at around 2:52am. Paramedics found a deceased individual at the scene, after which the local police department and medical examiner’s office took control over the case. The cause of death is not yet known.
Tatiana Schlossberg, journalist and granddaughter of JFK, dies at 35
December 30, 2025
She announced her terminal cancer diagnosis in a New Yorker essay that took aim at Health Secretary Robert F. Kennedy Jr., whom she called “an embarrassment.” Tatiana Schlossberg, a journalist who told stories of the changing climate and the ways humans can help protect the environment, and whose terminalillness and position in the Kennedy family thrust her into the national spotlight late in life, died Dec. 30. She was 35.
Standup comedian John Mulrooney, who briefly hosted “The Late Show” in 1987, has died. He was 67. Mulrooney died “suddenly” on Dec. 29, 2025, at his home in Coxsackie, New York, the Times Union reported. A cause of death was not shared. “I’m just stunned,” Mulrooney’s coworker Steve Van Zandt told the outlet. “To talk to somebody less than two weeks ago, and he had mentioned what he was doing for Christmas, and he was looking forward to 2026 because he had a pretty full calendar … It’s all so unexpected. It’s still sinking in.” Throughout his career as a standup comedian, Mulrooney made appearances at The Improvisation, The World Famous Comedy Store and The Laugh Factory. He briefly helmed Fox’s “The Late Show” in 1987 after Joan Rivers’ exit.
Michael Lippman, Manager and Lawyer for George Michael, David Bowie, Rob Thomas and Other Music Stars, Dies at 79
December 30, 2025
Michael Lippman, who worked with David Bowie, George Michael, Matchbox Twenty and other top stars as a manager, lawyer or label executive, died Monday at age 79. No cause of death was immediately given. In later years Lippman was best known for serving as a manager to Michael, first at the peak of his fame during the “Faith” era in the late 1980s, and then again, after a 17-year gap, beginning in the mid-2000s.
Banjo Great Gabe Hirshfeld Passes Away at 36, Remembered by Bluegrass Contemporaries
December 29, 2025
Banjo prodigy Gabe Hirshfeld has passed away. The Berklee College of Music graduate, known for his co-founding of The Lonely Heartstrings Band, which released a successful series of records and toured nationally, while evoking the spirit of the great Earl Scruggs, succumbed to a long-term health issue stemming from an organ transplant the artist received earlier this year and, more recently, spine decompression. He was 36 years old.
Memorial service for Santa Fe musician Jim Almand planned Sunday in Madrid
January 2, 2026
Santa Fe, NM – A longtime and beloved Santa Fe singer-songwriter who died recently will receive a sendoff from friends and admirers this weekend on the stage where he was a regular performer for many years. A memorial service for Jim Almand, 73, who died of a heart attack Dec. 20, will take place at 2 p.m. Sunday at The Mine Shaft Tavern & Cantina, 2846 N.M. 14 in Madrid. According to a post on the late artist’s Facebook page, those in attendance will be encouraged to play songs, tell stories and help mark his passing.
Beloved pillar of Quad Cities music scene passes away
January 5, 2026
ROCK ISLAND, Ill. — A beloved pillar of the Quad Cities music scene, Greg Hipskind, passed awayunexpectedly this weekend. He was 49 years old. Born and raised in Moline, Hipskind played music for over 30 years. For the past two decades, he has made a living as a professional musician by teaching lessons and performing on a regular basis. That worked turned into the QC Rock Academy when its doors opened in December 2011.
GREEN BAY, Wis. – Former Green Bay Packers linebacker Jim Flanigan Jr. has passed away. His obituary says he died unexpectedly in Iron River, Mich., the day after Christmas. Flanigan was 80 years old. He was with the Packers when the team won the second Super Bowl in 1968, after he was drafted by the team as a second-round pick in 1967.
Horse racing legend, Kentucky Derby pioneer, dies following cancer battle
January 2, 2026
Diane Crump, whose determination in the late 1960s helped open professional horse racing to women in the United States, died on Thursday at the age of 77 after a battle with an aggressive form of braincancer. Her family co
Plum Island; ‘FDA Commissioner Makary States that Lyme Disease Came from Lab 257 on Plum Island Reflexive and vociferous cries of “debunked conspiracy theory” raise further suspicion that Dr. Makary
Well done Makary in taking this brave step, a hat-tip is in order! You may well have take back one of your testicles from The Outlaw Wales…
is over the target.’
NEWSWIZE
LATEST REPORTS FOR NEWS JUNKIES
NEW: JD Vance’s Home Attacked, Suspect ArrestedAn unidentified man was arrested early Monday after allegedly smashing windows at Vice President JD Vance’s Cincinnati home, authorities said. The suspect was detained by Secret Service agents and later turned over to local police on suspicion of property damage, according to agency spokesman Anthony Guglielmi. “The residence was unoccupied at the time of the incident, and the Vice President …READ THE FULL REPORT
BREAKING: Tim Walz Drops Re-Election Bid Amid Sprawling Somali Fraud ScandalMinnesota Gov. Tim Walz said Monday he is stepping aside rather than run for a third term, a decision that comes as scrutiny mounts over a massive Somali daycare fraud scandal in the state. Walz, who was the Democratic vice presidential nominee in 2024, spent the weekend weighing his future with friends and advisers, according to two senior Democrats familiar …READ THE FULL REPORT
Senate Republicans Can’t Let Trump’s Crypto Momentum StallSenate Republicans are in danger of blowing President Trump’s crypto momentum just as it starts to break through. They face a stark choice: push forward market structure legislation and keep Trump’s pledge to make America the crypto capital of the world on track, or let internal disputes kill the bill and hand Democrats a political win at Trump’s expense. Market …READ THE FULL REPORT
Suspect In Attack On Vance’s Home Identified, Mugshot Released A 26-year-old man was taken into custody after allegedly damaging a home tied to Vice President JD Vance, prompting a late-night response from Cincinnati police and the U.S. Secret Service. Authorities descended on the East Walnut Hills neighborhood shortly after midnight Monday after reports of property damage at the residence. WLWT cameras captured what appeared to be broken windows, as …READ THE FULL REPORT
MICHAEL EVERY/OR OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIR
7. OIL ISSUES/NATURAL GAS/ENERGY ISSUES/GLOBAL\
Crude Drops After Trump Says Venezuela Will Transfer Up To 50 Million Barrels To US
Tuesday, Jan 06, 2026 – 08:35 PM
Update (2035ET):
Brent crude futures fell after a Truth Social post from President Trump said officials in Venezuela will transfer “30 to 50 MILLION barrels of high-quality, sanctioned oil” to the U.S.
“This oil will be sold at its market price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States,” Trump said.
He added, “I have asked Energy Secretary Chris Wright to execute this plan immediately. The oil will be taken by storage ships and brought directly to unloading docks in the United States.”
In markets, Brent crude fell 2.3% on supply concerns but has since clawed back some of the losses.
An earlier Bloomberg report detailed how Chevron contracted 11 tankers scheduled to arrive later this month at the Venezuelan government-controlled ports of Jose and Bajo Grande.
We’re sure the Strategic Petroleum Reserve could use some of that Venezuelan crude oil…
The US ambassador to the United Nations on Monday said that enemies of his country cannot be allowed to control vast oil reserves, such as the ones in Venezuela under President Nicolas Maduro.
Mike Waltz spoke less than two hours before Maduro made his first court appearance, not far from UN headquarters in Manhattan. Maduro is charged with narco-trafficking, among other charges, and has pleaded not guilty. “We’re not going to allow the Western Hemisphere to be used as a base of operation for our nation’s adversaries,” Waltz said. “You cannot continue to have the largest energy reserves in the worldunder the control of adversaries of the United States, under the control of illegitimate leaders, and not benefiting the people of Venezuela.”
He insisted, however, that despite the US president himself saying that his administration will be “running” Venezuela, the US will not be “occupying” the Latin American nation. “There is no war against Venezuela or its people,” Waltz told the UN Security Council (UNSC). “We are not occupying a country.”
US President Nicolas Maduro entered a not guilty plea in a federal courthouse in New York City on Monday, following his abduction by the US in the early hours of Saturday morning.
US attorney general Pam Bondi said Maduro has been charged with “Narco-Terrorism Conspiracy, Cocaine Importation Conspiracy, Possession of Machineguns and Destructive Devices, and Conspiracy to Possess Machineguns and Destructive Devices against the United States”.
A federal grand jury returned an indictment against him and his wife, Cilia Flores, in 2020, under the first Trump administration. Five other defendants were named in the document, but not Flores.
Bondi has since shared an unsealed indictment that charges Flores and the couple’s son, who was not abducted with them, with trafficking drugs. Flores is also accused of ordering kidnappings and murders, and accepting bribes.
In the US, an unsealed indictment is effectively the withholding of formal criminal charges until the suspects have appeared in court. On Monday, Flores also appeared in court next to her husband and pleaded not guilty.
Maduro’s stunning abduction from Venezuela by US forces in the early hours of Saturday has been condemned by allies Russia and China, both of which are among the five permanent and veto-wielding members of the UNSC.
But the US also has that power, meaning there will likely be no accountability at the UN for its actions. The body’s secretary general, Antonio Guterres, has already said he fears there may have been a violation of international law in abducting a head of state from a sovereign country.
UN member states must “refrain in their international relations from the threat or use of force against the territorial integrity or political independence of any state”, the body’s charter says.
A statement from Guterres on Monday, read by UN political affairs chief Rosemary DiCarlo to the UNSC, said he is “deeply concerned about the possible intensification of instability in [Venezuela], the potential impact on the region, and the precedent it may set for how relations between and among states are conducted”.
He added that the UN will support all efforts at dialogue between the US and Venezuela. For his part, Venezuela’s ambassador to the UN, Samuel Moncada, said the abduction was “an illegitimate armed attack lacking any legal justification”.
The death count from the US attack on Venezuela has risen to 80, including civilians and members of security forces, according to a senior Venezuelan official who said the number could rise further, The New York Times reported on Monday.
The Trump admin’s talking points on what was behind the Venezuela intervention have been shifting…
Pete Hegesth, "We spent decades, purchased in American blood and got nothing economically in return"
"Now we can ensure we can access to additional wealth"
US special forces abducted Venezuela’s president from the capital, Caracas, early on Saturday, as American fighter jets bombed key military installations and bases across the country. Venezuela’s acting president, Delcy Rodriguez, said the US seizure of Maduro had “Zionist undertones”.
Rodriguez, who served as Maduro’s vice president, has been appointed by the Supreme Court to lead the country on an interim basis.
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES
VENEZUELA/
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: 1.1713 DOWN 0.0001 PTS OR 1 BASIS POINTS/WITH STOCKS IN EUROPE ALL GREEN
USA/ YEN 156.43 DOWN 0.185 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 1.3526 UP 0.0004 OR 4 BASIS PTS
USA/CAN DOLLAR: 1.3765 DOWN 0.0009 CDN DOLLAR UP 9 BASIS PTS//
Last night Shanghai COMPOSITE CLOSED UP 68.25 pts or 1.50%
Hang Seng CLOSED UP 363.21 PTS OR 1.38%
AUSTRALIA CLOSED DOWN 0.57%
// EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 363.21 PTS OR 1.38%
/SHANGHAI CLOSED UP 60,25 pts or 1.50
AUSTRALIA BOURSE CLOSED DOWN 0.57%
(Nikkei (Japan) CLOSED UP 681.20 pts 1.31%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 4450.00
silver:$77.85
USA DOLLAR VS TRY: 43.03
USA DOLLAR VS RUSSIAN ROUBLE: 80.81 ROUBLE// UP 5 BASIS PTS
UK 10 YR BOND YIELD: 45160. UP 1 BASIS PTS
UK 30: 5.258 UP 1 BASIS PTS
CDN 10 YR BOND YIELD: 3.421 DOWN 5 BASIS PTS
CDN 5 YR BOND YIELD; 2.945 DOWN 5 BASIS PTS
USA dollar index early WEDNESDAY morning: 98.11 UP 13 BASIS POINTS FROM TUESDAY’s CLOSE
WEDNESDAY MORNING NUMBERS ENDS
And now your closing WEDNESDAY NUMBERS 11: 30 AM
Portuguese 10 year bond yield: 3.147 % DOWN 4 in basis point(s) yield
JAPANESE BOND 10 yr YIELD: +2.134% UP 2 FULL POINTS BASIS POINTS /JAPAN losing control of its yield curve/
JAPAN 30 YR: 3.496 UP 3 BASIS PTS//DEADLY
SPANISH 10 YR BOND YIELD: 3.222 DOWN 3 in basis points yield
ITALIAN 10 YR BOND YIELD 3.496 DOWN 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.845DOWN 3 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 XXXXDOWN 0.0004 OR 4 basis points
USA/Japan: XXXDOWN 0.222 OR YEN IS UP 22 BASIS PTS// HIGHLY INFLATIONARY TO JAPAN
Great Britain 10 YR RATE XXXX DOWN 5 BASIS POINTS //
US stocks were mostly lower after US President Trump took aim at the housing and defence sectors – Newsquawk Asia-Pac Market Open
Wednesday, Jan 07, 2026 – 05:35 PM
US stocks saw two-way trade with upside in stocks seen throughout most of the US session before selling off in the afternoon into the closing bell to see indices close predominantly in the red, albeit the Nasdaq was flat. The downside extended with US President Trump taking aim at two sectors in the US, housing and defence. The President announced he will ban large institutional investors from buying more single-family homes, weighing on the real estate sector and Blackstone (BX). Meanwhile, for Defence, Trump said he will not permit buybacks or dividends until problems, like slow production and maintenance, are fixed, which pressured defence stocks, although they were supported after the closing bell as Trump commented that he wants the 2027 defence budget boosted to USD 1.5tln from USD 1tln.
USD was slightly firmer on Wednesday, tracking the move higher in US yields on the short end after ISM Services strongly topped expectations, pointing to the strongest growth in the services sector since October 2024. Additionally, all sub-indices expanded for the first time since February, as employment expanded for the first time since May. On the flip side, Job openings unexpectedly deteriorated in November; however, markets shrugged it aside, alongside the slight miss in the ADP December report, as more significance is placed on the December NFP report on Friday, which is expected to show 55k jobs added to the US economy after the 64k print in November.
Looking ahead, highlights include Japanese Labour Cash Earnings & Household Confidence, Australian Trade Data, Supply from Japan.
US stocks saw two-way trade with upside in stocks seen throughout most of the US session before selling off in the afternoon into the closing bell to see indices close predominantly in the red, albeit Nasdaq was flat. The downside extended with US President Trump taking aim at two sectors in the US, housing and defence. The President announced he will ban large institutional investors from buying more single-family homes, weighing on the real estate sector and Blackstone (BX). Meanwhile, for Defence, Trump said he will not permit buybacks or dividends until problems, like slow production and maintenance, are fixed, which pressured defence stocks, although they were supported after the closing bell as Trump commented that he wants the 2027 defence budget boosted to USD 1.5tln from USD 1tln.
SPX -0.34% at 6,921, NDX +0.06% at 25,654, DJI -0.94% at 28,996, RUT -0.29% at 2,575.
China reportedly told tech companies to halt NVIDIA (NVDA) H200 chip orders, while officials may order domestic AI chip purchases with NVIDIA orders, according to The Information.
China’s Commerce Ministry announced an anti-dumping probe into Japan’s dichlorosilane imports, while the investigation begins on January 7th and will end a year later, but can be extended by 6 months if needed.
EU trade chief said the European Commission will propose most-favoured-nation tariffs on ammonia, urea and, where necessary, other fertilisers, while they will issue guidance to allow temporary suspension of carbon border tax on certain goods, such as fertilisers.
Italy’s Agriculture Minister called on the EU to remove tariffs and carbon border levies on fertiliser imports from outside the bloc.
NOTABLE HEADLINES
US President Trump said he is immediately taking steps to ban large institutional investors from buying more single-family homes, and will be calling on Congress to codify it.
US President Trump posted on Truth Social that they will no longer tolerate defence contractors issuing massive dividends to their shareholders and massive stock buybacks, at the expense and detriment of investing in plants and equipment.
US Treasury is implementing President Trump’s no tax on American car loan interest, according to Treasury Secretary Bessent on X.
White House is withdrawing its nomination of Ryan Baasch to be FTC commissioner, with Baasch to become the Deputy Director of the White House NEC instead.
US Q4 GDP data has been rescheduled for February 20th, while October and November Personal Income and PCE are to be released January 22nd. Furthermore, the December Personal Income and PCE is due on February 20th at 08:30EST, alongside the Q4 advance estimate for GDP.
DATA RECAP
US Factory Orders MoM (Oct) M/M -1.3% vs. Exp. -1.2% (Prev. 0.2%)
US ISM Services PMI (Dec) 54.4 vs. Exp. 52.3 (Prev. 52.6)
US ISM Services Business Activity (Dec) 56.0 vs. Exp. 54 (Prev. 54.5)
US ISM Services Employment (Dec) 52.0 vs. Exp. 48.7 (Prev. 48.9)
US ISM Services New Orders (Dec) 57.9 vs. Exp. 52.2 (Prev. 52.9)
US ADP Employment Change (Dec) 41K vs. Exp. 47K (Prev. -32K, Rev. -29k)
US JOLTs Job Openings (Nov) 7.146M vs. Exp. 7.60M (Prev. 7.449M, Rev. 7.670M)
FX
USD was slightly firmer on Wednesday, tracking the move higher in US yields on the short end after ISM Services strongly topped expectations, pointing to the strongest growth in the services sector since October 2024. Additionally, all sub-indices expanded for the first time since February, as employment expanded for the first time since May. On the flip side, Job openings unexpectedly deteriorated in November; however, markets shrugged it aside, alongside the slight miss in the ADP December report, as more significance is placed on the December NFP report on Friday, which is expected to show 55k jobs added to the US economy after the 64k print in November.
EUR marginally softened amid the gains in the dollar, and with EU flash inflation unlikely to change the ECB’s narrative.
GBP was among the laggards along with cyclical peers amid the downbeat risk appetite and weak UK Construction PMI.
JPY was lacklustre with price action in USD/JPY reflecting the mild tailwinds in the dollar.
FIXED INCOME
T-notes settled higher, although saw two-way price action amid mixed data releases as ISM Services PMI topped estimates, but ADP Employment and JOLTS Job Openings disappointed.
COMMODITIES
Oil prices were choppy and settled in the red amid a further deluge of Venezuela-related headlines, while it was reported that the US seized a Russian-flagged tanker in the North Atlantic and a second tanker in the Caribbean.
US EIA Crude Oil Stocks Change (Jan/02) -3.831M vs. Exp. 1.1M (Prev. -1.934M)
US Energy Secretary Wright said they wish to fill the SPR and that it is currently being filled, but not at an ideal pace. Wright separately commented that the US government wants to sell Venezuelan oil and deposit the money into US-controlled accounts, as well as stated that the US government wants to get Venezuelan oil flowing again.
White House said the Trump administration is in close correspondence with interim Venezuelan authorities, and their decisions will continue to be dictated by the US, while the US is working with Venezuela and the oil industry on a deal, and they have already begun marketing the oil. Furthermore, it stated that the deal involves sanctioned oil that was just sitting on ships and will arrive very soon.
US Defence Secretary Hegseth said the blockade of sanctioned and illicit Venezuelan oil remains in full effect around the world.
US DoE provided details on the Venezuela fact sheet, in which it is to allow the sale of oilfield equipment and services to Venezuela.
Oil sales from Venezuela will continue indefinitely and sanctions will be reduced as part of an agreement between the US administration and Venezuela, while 50mln barrels are to be sold to the US in the first tranche, CNBC reports citing a White House source.
Venezuela’s PDVSA said it is in negotiations with the US to sell crude. Furthermore, a PDVSA board member said only Chevron (CVX) are currently exporting Venezuelan crude, while the board member added they do not owe anything to the US, and if the US wants to have Venezuela’s oil supply, it must pay for cargoes at international prices.
Mantoverde copper and gold mine strike in Chile continues after negotiations between Capstone Copper and union workers.
GEOPOLITICAL
VENEZUELA/LATIN AMERICA
US Secretary of State Rubio said the first phase is to stabilise Venezuela, the second phase will be recovery, and the third phase is the transition, while they will control how money from the sale of Venezuelan oil will be dispersed in a way that benefits the Venezuelan people. Furthermore, he said there will be no additional costs for Venezuela, and declined to provide a timeline for resuming oil exports.
US seized a Russian tanker with links to Venezuela, according to NBC. It was later reported that Russian Transport Ministry said regarding the US seizure of the Russian-flagged “Marinera” tanker, that all contact has been lost. It was earlier reported that the US was carrying out an operation to seize the Venezuela-linked tanker formerly known as Bella-1, while the US Southern Command said the Department of War apprehended a stateless, sanctioned dark fleet motor tanker without incident. It added that the seized vessel, M/T Sophia, was operating in international waters and conducting illicit activities in the Caribbean Sea, and the US Coast Guard is escorting M/T Sophia to the US for final disposition.
US Energy Secretary Wright said they’re going to see very significant pressure on Cuba, according to a CNBC interview.
MIDDLE EAST
Iran’s President called on law enforcement agencies not to attack protesters, according to Sky News Arabia.
Iran’s army chief said US President Trump’s and Israeli PM Netanyahu’s statements on the demonstrations represent a threat to which Tehran will respond”, Sky News Arabia reports.
Yemeni Saudi-backed government forces reportedly advance towards Aden.
RUSSIA-UKRAINE
Ukrainian President Zelenskiy said he hopes to meet US President Trump soon, possibly in Washington, while he stated there’s still no clear response from allies on whether they will protect Ukraine in the event of further Russian aggression. Zelensky also said he expects no further demands on Ukraine in peace negotiations.
Spain’s Foreign Minister said they are far from a peace plan regarding Ukraine and suggested there is “an outline of ideas”.
OTHER
US President Trump posted “We will always be there for NATO, even if they won’t be there for us. The only Nation that China and Russia fear and respect is the DJT REBUILT U.S.A.”
White House said regarding Russia and China relations that President Trump has good personal relationships and will continue.
White House said regarding Greenland that it is being actively discussed by President Trump and the National Security team, and are talking about what a potential purchase would look like.
EU/UK
DATA RECAP
UK S&P Global Construction PMI (Dec) 40.1 vs. Exp. 42.5 (Prev. 39.4)
French HCOB Construction PMI (Dec) 43.4 vs. Exp. 44 (Prev. 43.6)
Italian HCOB Construction PMI (Dec) 47.9 vs. Exp. 48.9 (Prev. 48.2)
German HCOB Construction PMI (Dec) 50.3 vs. Exp. 47 (Prev. 45.2)
German Retail Sales MoM (Nov) M/M -0.6% vs. Exp. 0.2% (Prev. -0.3%, rev. 0.3%)
German Retail Sales YoY (Nov) Y/Y 1.1% vs. Exp. 1.2% (Prev. 0.9%, Rev. 1.6%)
German Unemployment Rate (Dec) 6.3% vs. Exp. 6.3% (Prev. 6.3%)
EU HCOB Construction PMI (Dec) 47.4 vs. Exp. 46.9 (Prev. 45.4)
EU Inflation Rate YoY Flash (Dec) 2.0% Y/Y vs. Exp. 2.0% (Prev. 2.1%)
EU Core Inflation Rate YoY Flash (Dec) 2.3% Y/Y vs. Exp. 2.4% (Prev. 2.4%)
EU HICP Excluding Food & Energy Flash YY (Dec) 2.3% vs. Exp. 2.4%
EU HICP Excluding Food, Energy, Alcohol & Tobacco Flash YY (Dec) 2.3% vs. Exp. 2.4% (Prev. 2.4%)
USA DATA RELEASES
USA ECONOMIC COMMENTARIES
VICTOR DAVIS HANSON
KING NEWS
The King Report January 7, 2026 Issue 7654
Independent View of the News
Silver went berserk on Tuesday and rallied as much as 6.33%. Nickel surged >10% on the LME.
Fed Governor and Trump lackey Miran said “well over 100 basis points of cuts are going to be justified this year” while on Fox. This dope should NOT be allowed to be anywhere near US monetary policy.
ESHs declined on the above story, which appeared near 2 ET.
Though Nasdaq and the Nas 100 rallied moderately in the morning, the NY Fang+ Index was modestly lower at the time. Too many traders got long for the CES that began on Tuesday.
Nvidia rallied early on its CFO Collette stating that demand has increased since it $500B Blackwell revenue forecast. NVDA turned modestly negative at 11:04 ET.
@kakashiii111: Collete is once again misleading investors with her statements. What does she mean by “demand increased since the $500 bln forecast”? Is it because of China’s H200 orders? Does it mean Nvidia has a backlog of over $500B with confirmed customers, not including China? Lots of good questions, questions.
ESHs opened modestly higher on Monday night but quickly retreated to a modest loss and stayed lower until they broke higher at20:20 ET. ESHs plodded to 6958.75 (+15.00) at 1:42 ET. After a slow rollover, ESHs sank on China’s export controls on Japan. After hitting a daily low of 6931.00 (-12.75) at 3:30 ET, ESHs commenced a rally that plodded higher until they hit 6947.75 at 7:53 ET.
After a retreat to 6939.00 at 8:49 ET, ESHs went inert. They exploded higher at 9:20 ET on the usual buying for the NYSE opening. ESHs soared to 6977.25 at 10:23 ET. The 2nd-Hour Reversal dropped ESHs down to 6950.50 at 11:05 ET. ESHs then intractably rallied to a daily high of 6990.50 at 15:14 ET.
ESHs then went inert but made a modest new high of 6991.50 at 15:50 ET. Yes, Virginia, the late manipulation did NOT appear. WHY? ESHs slid to 6986.00 at 16:00 ET.
China Asks Banks to Report Exposure to Venezuela After US Raid – BBG China’s top financial regulator asked its policy banks to report their lending exposure to Venezuela after the US ousted its Beijing-friendly leader… became a key lender to Venezuela in ’07, providing $60B+ in oil-backed loans thru state-run banks….
@RyanSaavedra: Interesting details via NYT on why the Trump admin decided to not back María Corina Machado as Nicolas Maduro’s replacement… Trump was persuaded by arguments from senior officials, including Secretary of State Marco Rubio, who said that if the United States tried to back the opposition, it could further destabilize the country and require a more robust military presence inside the country. A classified C.I.A. intelligence analysis reflected that view. Senior U.S. officials had grown frustrated with her assessments of Maduro’s strength, feeling that she provided inaccurate reports. They also grew skeptical of her ability to seize power in Venezuela. Richard Grenell, Trump’s envoy, met with Machado’s representatives and asked them to arrange an in-person meeting with Machado in Caracas… Machado, despite promises from the American delegation that she would be protected, refused to meet with Grenell… Grenell repeatedly pressed Machado to outline her plan for putting her surrogate candidate, Edmundo González, into office after she was barred from running. He grew frustrated when she expressed no concrete ideas of how to put the democratically elected government into power… Machado’s support of sanctions destroyed her relations with Venezuela’s business elite… Machado’s economic advisers have argued that every dollar going into Venezuela was a dollar for Mr. Maduro, a radical stance that had alienated many members of Venezuela’s civil society working to improve living conditions in the country… Machado’s team and allies in exile took to social media to attack and discredit public figures whose work deviated from their views. These actions cost Machado the support of members of the Democratic Party and many businesspeople, American and Venezuelan, who had interests in Venezuela and influence in Mr. Trump’s orbit. Orlando J. Pérez, a professor of political science at the University of North Texas at Dallas, said of Machado and her allies: “They don’t have the levers of power. They don’t have the institutions, andwithout us over assistance, they’re not going to get back into power in Venezuela. https://x.com/RyanSaavedra/status/2008407595539898738
Anxious Venezuelan security forces open fire on drones flying near presidential palace, situation ‘under control’https://t.co/Vfr9s2BhMs
David Duong, global research chief at Coinbase, warned that 1/3 of Bitcoin is vulnerable to quantum computing hacking in the long term. Bitcoin was -3.06% at 13:00 ET.
Revelio Labs: The average age of workers starting new positions has risen sharply since 2022 as older workers re-enter or remain in the labor market and younger workers face fewer entry opportunities. This pattern is consistent with a labor market that is slowing, becoming more selective, and prioritizing experience over long-term potential. … Older workers are staying longer in the labor force or returning from retirement, while younger workers face higher barriers to entry. The result is a workforce that looks older, turns over less, and blurs the once-clear line between working life and retirement… https://www.reveliolabs.com/news/social/65-and-still-clocking-in/
Positive aspects of previous session Stocks rallied sharply on first week of the new year upward seasonal bias. The S&P 500 Index hit and closed at a record high.
Negative aspects of previous session Commodities rallied sharply; precious metals soared. Spot Silver hit an all-time high of 82.4825. The CME dubious margin hikes only delayed the ascent.
Ambiguous aspects of previous session The valuation rotation into DJIA and DJTA while selling Fangs/tech appeared.
First Hour/Last Hour NYSE Action [S&P 500 Index]: 1st Hour: Up; Last Hour: Up a few cents
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 6932.51 Previous session S&P 500 Index High/Low: 6948.69; 6904.02
@AFpost: Denmark and Greenland have requested a meeting with Marco Rubio. Greenland’s Foreign Minister, Vivian Motzfeldt, wrote that the countries want to discuss “the significant statements made by the United States about Greenland.”
@RosenvoldGeo: Two positive developments on Greenland. 1) Reports that the US is working on a “draft deal” to be presented to Greenland. 2) All the big European countries back Denmark and Greenland The US presenting a deal directly to Greenland (and bypassing Copenhagen) is not that controversial. It has long been Denmark’s position that Greenlandic independence should be up to the Greenlandic people. So if they want to take Trump’s deal, Denmark will most likely not object…
@Object_Zero_: Greenland – As viewed from a proper map (It’s near the North Pole).Why Greenland? Well because Moscow bases almost all of their strategic military assets on the Kola Peninsula next to Finland. This is where the Russian ICBM silos, submarine bases, and their strategic bombers are. If you look at the flight path (ballistic or powered) from Kola to anywhere on the lower 48, then everything goes over Greenland. Greenland is the theatre where any strategic exchange between Washington and Moscow is contested… The other thing… the Northern Passage through the Arctic is opening up, and soon there will be Chinese cargo ships sailing through the Arctic to Rotterdam. It’s faster than the Suez and the ships aren’t limited to Suezmax size so China and EU trade is going to accelerate a lot. This means Chinese submarines will also be venturing under the Arctic into the Northern Atlantic, IF THEY AREN’T ALREADY DOING SO… https://x.com/Object_Zero_/status/2008524560891588691
@eeldenden: If the US annexes Greenland we must confiscate all US bases in Europe, says Austria’s NATO enlargement committee chairman Fehlinger. “If you take Greenland, you have to leave”. https://x.com/eeldenden/status/2008548622322069792
If the US gets Greenland, it won’t need European bases; and Europe will have to protect itself! EU leaders believe that they have leverage on the US! Americans see the US money & blood spent in the 20th Century in Europe and believe there has to be a fairer and more balanced relationship. @BraVoCycles: 42% of Russell 2000 companies have negative earnings. That’s 7 times and 3 times, respectively, compared to the S&P 500 and Russell Mid-Cap companies. Increased interest rates and a potential earnings recession could create financial difficulties for many small-cap companies.https://t.co/2oFIeUX6CR The S&P 500 Price-to-Sales (P/S) ratio (3.3) is approaching levels only seen during the dot-com bubble of 2000 (3.4).P/S was exaggerated in 2000 due to many unprofitable companies. In 2001-2002, 15% of companies in the S&P 500 were unprofitable, compared to just 6% in Q4 2024. https://t.co/txAOA2wrbV
@AlmanacTrader: January #1 NASDAQ Month of the Year. 5th for S&P 500 & DJIA. In midterm years, January rankings slip toward the bottom.https://jeffhirsch.tumblr.com/post/805009149
The ‘January Effect’ is largely a Nasdaq/tech/smaller stock rally.
Today – With the S&P 500 Index hitting an all-time high, traders will keep playing the long side and will keep buying dips. The ‘first 5 days of the new year’ window closes on Thursday. So, be prepared! Plus, the Consumer Electronics Show ends Friday. And the SCOTUS will issue its tariff ruling on Friday.
Expected economic data: ADP Employment Change for December +50k, Dec ISM Services Index 52.5, Prices Paid 64.9, New Orders 52.4, Employment 49; Nov JOLTS Job Openings 7.648m, Quits 2.995m, Layoff Rate 1.816m; Oct Factory Orders -1.2% m/m; Oct Durable Goods -2.2% m/m, ex-Trans 0.2%
ESHs are +1.50; NQHs are +3.25; AU and Silver are modestly lower; and USHs are +6/32 at 20:36 ET.
S&P Index 50-day MA: 6813; 100-day MA: 6701 150-day MA: 6537; 200-day MA: 6305 DJIA 50-day MA: 47,678; 100-day MA: 46,796; 150-day MA: 45,793; 200-day MA: 44,617 (Green is positive slope; Red is negative slope)
S&P 500 Index (6944.82 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 5896.83 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 6835.63 triggers a sell signal Hourly: Trender and MACD are positive – a close below 6920.74 triggers a sell signal
@RNCResearch: Americans overwhelmingly support President Trump’s action to capture Nicolas Maduro (50 to 14): CNN: “They believe he should be on trial for drug-trafficking…” “It doesn’t even really divide Democrats [voters]… they all seem to support it…” https://t.co/NaOcAudatY
@remarks: Pro-Maduro New York Liberals clash with anti-Maduro Venezuelans in NYC. https://x.com/remarks/status/2008224596118413570 @Noahpinion This is the future of foreign policy discourse. Western leftists turning out to support every authoritarian government in the world while the people of those countries march against those governments.
@CharlieK_news: Federal prosecutors just blew the lid off a $7 MILLION SNAP fraud scheme in Boston.Two Haitian nationals have been charged for running so-called “ghost stores” — tiny shops with barely any inventory that were somehow cashing $540,000 a MONTH in EBT… That’s SIX TIMES the SNAP volume of a real, fully stocked supermarket. The stores were allegedly used to trade EBT for cash and illegal items, draining taxpayer funds at an insane scale… This was industrial-level fraud. And people still wonder where the money goes. https://x.com/CharlieK_news/status/2008297432522559790 @elonmusk: Half a million dollars a month stolen by a single fake store with fraudulent food stamps (SNAP)!
@CreasonJana: Medicaid Fraud Exposed in Maine. Once again, a Democrat Governor, Janet Mills, ignored the whistleblower when exposing the fraud involving our tax dollars. Instead, this whistleblower was fired.“Maine kept funding a Somali-run NGO after it billed $904,000 in just ONE YEAR for services it never provided.” The current Somali owned company, Gateway Community Services, is run and owned by Dr. Abdullahi Ali who is currently also running for an office in Somalia. https://t.co/QsIgUg7zBz
@paulsperry_: Records show US Capitol Police Capt. Michael Byrd, who fatally shot unarmed J6 protester Ashli Babbitt w/o warning, has been running an unaccredited day-care center w/ wife Kaleska from their MD. home since 2008. MD. rec’s $190m in HHS day-care funds.https://t.co/Ly2JCVx966
@amyforsandiego: SHOCKER in San Diego: 2 out of 2 childcares reviewed so far had ZERO children present during state inspection. ABDULAHI, SUAD FAMILY CHILDCARE had only the owner & her own baby present. Owner was cited for missing school enrollment verification for 6 out of 6 enrolled children.https://t.co/Y5z0reIs2r
@WallStreetApes: Nick Shirley exposes there are 1,200 medical transport companies in Minnesota. For a year, photos with timestamps were taken of the vans that are supposed to be used by these companies. NONE MOVED IN A YEAR. They sit parked but are getting paid to transport patients. https://x.com/WallStreetApes/status/2008663201257333064
@ElectionWiz: Fox’s DANA PERINO: Leaked audio reveals MN AG Keith Ellison told the fraudsters that he would help cover up the investigations and have the investigators back off. Note: Weeks later, his campaign got donations from linked individuals.https://t.co/lGlcZmdnL7
Foreigners are a huge part of the scam – and US officials allow it due to the skim!
Apparently beaucoup Dem constituents have been utilizing daycare centers to get government funds. What other ‘businesses’ have been engaged similar schemes? How much money have these ‘businesses’ contributed to politicians? The skim and fraud in US government spending is astronomical!
Fed prosecutor warns more arrests coming after ‘massive’ fraud found in California homeless services: ‘We followed the money’https://trib.al/MfdFAqo
@FoxNews: Independent journalist Nick Shirley says he’s now become a target from the political left for putting a spotlight on the alleged fraud that has taken place in Minnesota. “It’s just a moment where they could have really been like, ’Okay, you guys, let’s come together. Let’s tell everyone ‘Fraud is bad. Let’s crack down on the fraud.’ Instead, they come after the person who is exposing the fraud.”https://x.com/FoxNews/status/2008553827042009375
The whacko left cult is violent, deranged, and disturbingly malevolent – and are often controlled by foreign enemies of the US (China, Russia, Cuba, Iran, et al).
@JennaReports: No prison time for a Somali national in Minnesota who pleaded guilty to two sexual assaults. One month later: warnings of prosecution for “hateful” speech against Somali community. https://twitter.com/JennaReports/status/2008238331545751581?s=02 (The revolution against the Leftist Cult and its authoritarian and discriminatory practices will escalate!)
@VigilantFox: General Flynn has an interesting theory on why we’re not getting accountability for the Minnesota daycare fraud. He’s looked into Speaker Mike Johnson, and he’s getting daycare and healthcare clinic money funneled through PACs. “I want Speaker Johnson to do more. So, we started looking at Speaker Johnson’s PACs and how many of his PACs turn money back around to daycare and healthcare clinics and that kind of stuff. It’s incredible the amounts of money and that’s one person, but he happens to be the Speaker of the House. So, this is not a partisan thing for me.” https://x.com/VigilantFox/status/2008635708773400937
@WatcherontheWeb: Everybody understands what’s going on with Waltz right? 2020 Democrats are behind by a huge margin in fundraising. Kamala needs to pick a VP and it just so happens that Tim has access to one of the nation’s largest money laundering for political profit schemes. And then magically, gee would you look at that! Suddenly they’re not having so much of a fundraising problem anymore!!! Only they lost and now the fraud that facilitated the money laundering is out in the open. Dude’s going down and there’s a good chance he’s bringing a large chunk of the democratic party with him.
@DeAngelisCorey: An Arizona State University professor was just caught bragging about secretly pushing DEI. She said they’re just “careful with the language” because “it’s really tied to funding.” A journalist confronted her, and she looked like a deer in the headlights… The professor tells the undercover journalist that “the curriculum is there still” but that “it’s not as broadcast as it was before” because “the funding.” “It’s really tied to funding.” “If you have federal funds that are withheld, it really makes a big impact.” “Most of our faculty do tend to be a little bit more on the liberal side so they are more willing to talk about these kinds of issues.”… https://x.com/DeAngelisCorey/status/2008271128142516417
@RapidResponse47: @POTUS to House Republicans: “You ought to have Voter ID. You ought to insist on it… The only reason somebody doesn’t want that is because they want to cheat… You ought to pass the SAVE Act or whatever you’re going to call it.” https://x.com/RapidResponse47/status/2008565297985581133
@LRarey: Former Obama administration DEA official Paul Campo arrested for laundering money to drug cartels. More arrests to come…
@JBook_37: According to NY Times here is the cost of doing business in the (NCAA) portal this yr.
QB: $1M to $4M OT: $600K to $1.3M RB: $400K to $900K WR: $500Kto $1M TE: $300K to $900K Edge rushers: $500K to $2M Interior DL: $500K to $1.5M Corners: $250K to $1M Safeties: $250K to $900K
harveyorganblog.com 
Welcome to Costa Rica Harvey.
Probably been reading your blog for 15 years or more.
Thanks for all of your work.
Pura Vida from the Zona Sur,
Keith
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