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EXCHANGE: COMEX
EXCHANGE: COMEX
CONTRACT: JANUARY 2026 COMEX 100 GOLD FUTURES
SETTLEMENT: 4,626.300000000 USD
INTENT DATE: 01/14/2026 DELIVERY DATE: 01/16/2026
FIRM ORG FIRM NAME ISSUED STOPPED
332 H STANDARD CHARTERED B 1
363 H WELLS FARGO SECURITI 48
435 H SCOTIA CAPITAL (USA) 4
624 H BOFA SECURITIES 237
661 C JP MORGAN SECURITIES 470 172
686 C STONEX FINANCIAL INC 2
737 C ADVANTAGE FUTURES 3 11
880 H CITIGROUP 2
905 C ADM 5 1
TOTAL: 478 478
MONTH TO DATE: 7,333
JPMORGAN STOPPED: 172/7333
GOLD: NUMBER OF NOTICES FILED FOR JANUARY/2026: 478 CONTRACTs NOTICES FOR 47,800 OZ or 1.4867 TONNES
total notices so far: 7333contracts for 733,300 OR 22.808 tonnes)
SILVER NOTICES: 509 NOTICE(S) FILED FOR 2.545 MILLION OZ OZ/
total number of notices filed so far this month : 7721CONTRACTS (NOTICES) for 38.605 million oz
HUGE CHANGES:
INITIAL STANDING FOR JANUARY: 22.915 MILLION OZ FOLLOWED BY TODAY’S HUGE 1.56 MILLION OZ QUEUE JUMP//NEW STANDING ADVANCES TO 39.355 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: 60.230 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 1.56 MILLION OZ QUEUE JUMP//STANDING ADVANCES TO 39.355 MILLION OZ//
- MAY: SUMMARY FOR MAY TONNES WHICH STOOD FOR DELIVERY:
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 QUEUE JUMP OF 0.8199 TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 16.6857TONNES //NEW TOTAL QUEUE JUMPS 17.5056//NORMAL DELIVERY OF GOLD ADVANCES TO 23.919 TONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK OF 12.778 TONNES//NEW STANDING ADVANCES TO 36.497TONNES.
NEW STANDING FOR GOLD, JANUARY CONTRACT AT 36.497TONNES OF GOLD
JAN. 2025: 257.919 TONNES (ISSUANCE WILL BE PRETTY GOOD THIS MONTH BUT MUCH LOWER THAN LAST MONTH)
FEB: 207.21 TONNES//EX FOR PHYSICAL ISSUANCE (WILL BE A FAIR SIZED ISSUANCE THIS MONTH)
MARCH 130.84 TONNES//QUITE SMALL THIS MONTH.
APRIL; 208.57 TONNES. STRONG THIS MONTH
MAY: 113.499 TONNES OF GOLD EFP ISSUANCE//QUITE SMALL THIS MONTH
JUNE: 97.79 TONNES OF GOLD EFP ISSUANCE/EXTREMELY SMALL
JULY : 150.877 TONNES// QUITE SMALL
AUGUST: 175.86 TONNES A LOT LARGER THIS MONTH.
SEPT. 116.13 TONNES VERY SMALL
OCT. 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: 97.833TONNES
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 SMALL SIZED 168 CONTRACTS OI TO 151,671 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 1963 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MAR 1963 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 158 CONTRACTS AND ADD TO THE 1963 E.FP. ISSUED
WE OBTAIN A HUMONGOUS SIZED GAIN OF 2121 OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES WITH OUR GAIN OF $4.64 THE RATS ARE FLEEING THE ARENA.
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 14.93MILLION PAPER OZ
OCCURRED WITH OUR GAIN IN PRICE.OF $4.64
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENT
Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS JAN 15/2025
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS THURSDAY MORNING.7:30 AM
SHANGHAI CLOSED DOWN 13.49 PTS OR 0.33%
//Hang Seng CLOSED DOWN 76.19PTS OR 0.29%
// Nikkei CLOSED DOWN 230.73PTS OR 0.73%
//Australia’s all ordinaries CLOSED UP .30%
//Chinese yuan (ONSHORE) CLOSED UP TO 6.9672
/ OFFSHORE CLOSED UP AT 6.9623 Oil DOWN TO 59.64 dollars per barrel for WTI and BRENT DOWN TO 64.35 Stocks in Europe OPENED ALL MIXED
ONSHORE USA/ YUAN TRADING UP TO 6.9672OFFSHORE YUAN TRADING UP TO 6.9623 ONSHORE YUAN TRADING BELOW OFF SHORE AND UP ON THE DOLLAR// / AND THUS STRONGER//OFF SHORE YUAN TRADING UP AGAINST US DOLLAR/ AND THUS STRONGER
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A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A GOOD SIZED 3907 CONTRACTS TO 523,548 OI DESPITE OUR HUGE GAIN IN PRICE OF $34.35 WITH RESPECT TO WEDNESDAY’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 FAIR NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (1809). WE HAD ZERO T.A.S. LIQUIDATION WEDNESDAY. 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 523,548 AND NOW AMPLE ENOUGH FOR AN ATTEMPTED RAID BY OUR BANKERS. FROM CHINA WE LEARN THAT THE GOLD LEASE RATE IS NOW AROUND ONE TO 2 %
WE THUS HAD A TOTAL LOSS IN OI ON BOTH OF OUR EXCHANGES, THE COMEX AND LONDON’S EXCHANGE FOR PHYSICAL EQUATING TO 2107 CONTRACTS (OR 6/559TONNES). THEN WE WERE NOTIFIED OF A 0 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 WE HAVE TWO ISSUED IN JANUARY: 3.446 TONNES EARLY AND THEN JAN 9 ISSUANCE OF 9,331//TOTAL EXCHANGE FOR RISK JANUARY 12.778 TONNES WHICH WILL BE ADDED TO OUR NORMAL DELVERIES.
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 FAIR SIZED LOSS ON OUR TWO EXCHANGES OF 2107 CONTRACTS WITH OUR HUGE 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 IS ANOTHER MONSTER T.A.S ISSUANCE CONTRACTS FOR A THIRD CONSECUTIVE DAY. THE CME NOTIFIES US THAT THEY HAVE ISSUED 23,490 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: INITITAL STANDING: 13.785 TONNES TO WHICH WE ADD OUR HUGE QUEUE JUMP OF 0.8197TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 16.857ONNES //NEW TOTAL QUEUE JUMPSl 17.5056 //NORMAL DELIVERY OF GOLD ADVANCES TO 23.919ONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK OF 12.778 TONNES//NEW STANDING ADVANCES TO 36.497 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!! AND THEN ANOTHER 9.33 TONNES JAN 9.2026
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/JAN//BORROWINGS FROM THE FRBNY:
THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED EXCHANGE FOR PHYSICAL OF 1800 CONTRACTS.
THAT IS A FAIR SIZED 1800 EFP CONTRACT WAS ISSUED: : /FEB 1800 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 1800 CONTRACTS. 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 WEDNESDAY NIGHT/THURSDAY MORNING WAS A HUGE SIZED 23,490 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 THURSDAY’S HUGE GAIN IN PRICE IN GOLD WITH A CORRESPONDING GOOD SIZED LOSS OF COMEX OI AND A HUGE EXCHANGE FOR PHYSICAL ISSUANCE..
.
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
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.
/STANDING ADVANCES TO 43.9716 TONNES OF GOLD.
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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: INITITAL STANDING: 13.785 TONNES TO WHICH WE ADD OUR HUGE QUEUE JUMP OF 0.8199 TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 16.6857TONNES //NEW TOTAL QUEUE JUMPS OF 17.5056//NORMAL DELIVERY OF GOLD ADVANCES TO 22.622 TONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK OF 12.778 TONNES//NEW STANDING ADVANCES TO 36.497TONNES.
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)
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK = 34.9627 TONNES
DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
2024/STANDING FOR GOLD/COMEX
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 11.9325
JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022
JULY: 11.692 TONNES
AUGUST 69.602 TONNES//FINAL STANDING
SEPT. 13.164 TONNES.
OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK =60.391 TONNES
NOV . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES
DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNES EQUALS 95.1066 TONNES
total year 2024: 540.30 tonnes
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COMEX GOLD TRADING BEGINNING JANUARY,. CONTRACT;
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $34.35)
WE HAD ZERO T.A.S. SPREADER LIQUIDATION WEDNESDAY // COMEX SESSION// WITH OUR GAIN IN PRICE ////.. BUT OUR SPECULATORS REMAIN RELENTLESS POURING INTO THE COMEX// WITH OTHER EASTERN CENTRAL BANKS TENDERING FOR PHYSICAL WEDNEDAY NIGHT WHICH ALSO EXPLAINS THE HUGE NUMBER OF TONNES OF GOLD STANDING FOR JANUARY IN AN OFF MONTH. THE COMEX IS ONE BIG MESS!!
WEDNESDAY NIGHT//THURSDAY 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 WEDNESDAY EVENING/THURSDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD
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:
JANUARY: INITITAL STANDING: 13.785 TONNES TO WHICH WE ADD OUR HUGE QUEUE JUMP OF 0.8199 TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 16.6857TONNES //NEW TOTAL QUEUE: 17.5056 TONNES //NORMAL DELIVERY OF GOLD ADVANCES TO 23.919 TONNES TO WHICH WE ADD OUR 2 EXCHANGE FOR RISK OF 12.778 TONNES//NEW STANDING ADVANCES TO 36.497TONNES.
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $34.35
WE HAD A HUGE 9547 CONTRACTS REMOVED TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE .
INITIAL GOLD COMEX
JAN 15
JAN 2026 CONTRACT MONTH
GOLD
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 1 ENTRIES I) Out of Loomis: 81,985.05 oz (2550 kilobars) total withdrawal 81,985.05 oz |
| Deposit to the Dealer Inventory in oz | 0- ENTRIES |
| Deposits to the Customer Inventory, in oz | DEPOSITS/CUSTOMER 0 ENTRIES xxxxxxxxxxxxxxxxI |
| No of oz served (contracts) today | 478 notice(s) 47800 OZ 1.4967 TONNES OF GOLD |
| No of oz to be served (notices) | 357contracts 35,700 OZ 1.10 TONNES |
| Total monthly oz gold served (contracts) so far this month | 7333notices 733300oz 22.808TONNES |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month |
dealer deposits: 0
xxxxxxxxxxxxxxxxxxxxx
DEPOSITS/CUSTOMER
DEPOSITS/CUSTOMER
0 ENTRIES
DEPOSITS/CUSTOMER
total deposit: NILoz
customer withdrawals:
1 ENTRIES
1 ENTRIES
I) Out of Loomis: 81,985.05 oz
(2550 kilobars)
total withdrawal 81,985.05 oz
they are draining the comex of gold
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ADJUSTMENTs 1//dealer to customer
i) JPMorgan: 14,273.500 oz
chaos inside the comex
AMOUNT OF GOLD STANDING FOR DECEMBER
THE FRONT MONTH OF JANUARY STANDS AT 856 CONTRACTS FOR A GAIN OF 175 CONTRACTS.
WE HAD 86 NOTICES FILED ON TUESDAY, SO WE GAINED 261 CONTRACTS OR 26,100 OZ OF A QUEUE JUMP (.8199 TONNES)
FEB LOST 19,154 CONTRACTS DOWN TO 266,359CONTRACTS AS FEB BECOMES THE FRONT MONTH, WE ARE GOING TO HAVE A WHOPPER OF A DELIVERY MONTH!!!
MARCH GAINED 42 CONTRACTS UP TO 2917
We had 478 contracts filed for today representing 47800 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 470 notices issued from their client or customer account. The total of all issuance by all participants equate to 7333 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 172 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 (7333) to which we add the difference between the open interest for the front month of JAN ( 855CONTRACTS) minus the number of notices served upon today (478 x 100 oz per contract) equals 769,000 OR 23.919Tonnes of gold to which we add our two exchange for risk in January of 12.778 tonnes//new standing advances to 36.497onnes
thus the INITIAL standings for gold for the JAN contract month: No of notices filed so far (7333 x 100 oz +we add the difference for front month of JAN (855 OI} minus the number of notices served upon today (478x 100 oz) which equals 769,000 OR 23.919 TONNES plus our two exchange for risk of 12.778 tonnes//new standing advances to 36.497 tonnes
new total of gold standing in JANUARY is 36.497 tonnes
TOTAL COMEX GOLD STANDING FOR JANUARY ..: 36.497 TONNES TONNES WHICH IS STRONG FOR THIS NORMALLY VERY NON ACTIVE ACTIVE DELIVERY MONTH OF JANUARY.
volume WEDNESDAY confirmed 342,741 EXCELLENT//end of balancing ratios
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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: 1,930,522.152oz 60.04 tonnes pledged gold lowers
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 36,132,901.138 oz
TOTAL REGISTERED GOLD 18,823,776.928 or 585.498 Tonnes
TOTAL OF ALL ELIGIBLE GOLD 17,309,134.210 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON 17,327,835 oz ((REG GOLD- PLEDGED GOLD)=
538.96 Tonnes // (declining rapidly)
total inventories in gold declining rapidly
SILVER/COMEX
JAN 15 2026
INITIAL/
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 4 entries i) Out of Delaware 32,902.030 oz ii) Out of HSBC 24,544.520 oz iii) Out of JPMorgan: 1,461,631.760 oz iv) Out of Loomis 100,546.110 oz total withdrawal: 1,619,624.400 oz |
| Deposits to the Dealer Inventory | 1 ENTRY i) Into CNTL 51,633.060 oz total: 51,633.060 oz |
| Deposits to the Customer Inventory | 1 ENTRY i) Into CNT 589,658..910 oz total deposit 589,658..910 oz |
| No of oz served today (contracts) | 509 CONTRACT(S) ( 2.545million OZ |
| No of oz to be served (notices) | 593ontracts (2.965MILLION oz) |
| Total monthly oz silver served (contracts) | 7721contracts 38.605MILLION 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 589,658..910 oz
total deposit 589,658..910 oz
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DEPOSIT ENTRIES/CUSTOMER ACCOUNT
1 ENTRIES
i) Into CNT 51,633.060 oz
total: 51,633.060 oz
withdrawals: customer side/eligible
4 entries
i) Out of Delaware 32,902.030 oz
ii) Out of HSBC 24,544.520 oz
iii) Out of JPMorgan: 1,461,631.760 oz
iv) Out of Loomis 100,546.110 oz
total withdrawal: 1,619,624.400 oz
adjustments: / /
3
i) Out of Brinks//customer to dealer Brinks 4,802.400 oz
ii) Out of JPM: dealer to customer account of JPPM: 127,113.000 oz
iii) Out of Manfra 4785.381 oz dealer to customer account of Manfra.
TOTAL REGISTERED SILVER: 123.204MILLION OZ//.TOTAL REG + ELIGIBLE. 433.382Million 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: 659 OPEN INTEREST CONTRACTS FOR A LOSS OF 72 CONTRACTS. WE HAD 450 NOTICES FILED ON WEDNESDAY SO WE GAINED 78 CONTRACTS OR A STRONG QUEUE JUMP OF 1.56MILLION OZ QUEUE JUMP WHERE THEY WILL TAKE DELIVERY ON THIS SIDE OF THE POND.
FEB LOST 638 CONTRACTS UP TO 3186 CONTRACTS AS FEB BECOMES THE FRONT MONTH, WE ARE GOING TO HAVE A DILLY OF A DELIVERY MONTH FOR FEBRUARY,
MARCH GAINED 689 CONTRACTS UPTO 101,291
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 509 or 2.515 MILLION oz
CONFIRMED volume; ON WEDNESDAY 292,732 huge//REBALANCING DATA
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 7721 X5,000 oz = 38.605MILLION oz
to which we add the difference between the open interest for the front month of JANUARY (659) AND the number of notices served upon today (509)x (5000 oz)
Thus the standings for silver for the JANUARY 2026 contract month: (7721)Notices served so far) x 5000 oz + OI for the front month of JAN(659) minus number of notices served upon today (509)x 5000 oz equals silver standing for the JANUARY.contract month equating to 39.355MILLION OZ
NORMAL STANDING: 39.355MILLION OZ WHICH IS HUGE FOR A GENERALLY SMALL DELIVERY MONTH OF JANUARY.
New total standing: 39.355 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 123.204 million oz of registered silver
JPMorgan as a percentage of total silver: 180.217/433.382million. 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 15/2026/WITH GOLD DOWN $9.85 TODAY/NO CHANGES IN GOLD AT THE GLD/// ///INVENTORY RESTS AT 1074.737TONNES
JAN 14/2026/WITH GOLD UP $34.35 TODAY/NO CHANGES IN GOLD AT THE GLD/// ///INVENTORY RESTS AT 1074.737TONNES
JAN 13/2026/WITH GOLD DOWN$11.00 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A MASSIVE DEPOSIT OF 3.43 TONNES OF GOLD INTO THE GLD/// ///INVENTORY RESTS AT 1074.737TONNES
JAN 12/2026/WITH GOLD UP $104.90 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A MASSIVE DEPOSIT OF 6.25 TONNES OF GOLD INTO THE GLD/// ///INVENTORY RESTS AT 1070,80TONNES
JAN 9/2026/WITH GOLD UP $49.30 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.58 TONNES OF GOLD FROM THE GLD/// ///INVENTORY RESTS AT 1064.55 TONNES
JAN 8/2026/WITH GOLD DOWN $0.80 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 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: 1074.23 TONNES, TONIGHTS TOTAL
SILVER
JAN 15 WITH SILVER UP $1.00 HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 2.538 MILLION OZ FROM THE SLV///. ./ :INVENTORY RESTS AT 524,737MILLION OZ //
JAN 14 WITH SILVER UP $4.64 NO CHANGES IN SILVER AT THE SLV: /. ./ :INVENTORY RESTS AT 524,737MILLION OZ //
JAN 13 WITH SILVER UP $1.70 HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 0.816MILLION OZ OUT OF THE SLV OZ INTO THE SLV. /. ./ :INVENTORY RESTS AT 524,737MILLION OZ //
JAN 12 WITH SILVER UP $5.50 HUGE CHANGES IN SILVER AT THE SLV: A DEPOSIT OF 1.229MILLION OZ INTO THE SLV OZ INTO THE SLV. /. ./ :INVENTORY RESTS AT 525,598MILLION OZ //
JAN 9 WITH SILVER UP $4.15 HUGE CHANGES IN SILVER AT THE SLV: A DEPOSIT OF 6.119 MILLION OZ INTO THE SLV OZ FROM THE SLV. /. ./ :INVENTORY RESTS AT 524.329MILLION OZ //
JAN 8/WITH SILVER DOWN $2.40/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 518.210MILLION OZ //
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
CLOSING INVENTORY 522.199 MILLION OZ OF SILVER…
PHYSICAL GOLD/SILVER
SILVER
1/PETER SCHIFF
JOHN RUBINO
jAMES RICKARDS
2. MATHEW PIEPENBURG/VON GREYERZ
ALASDAIR MACLEOD.
3.CHRIS POWELL AND HIS GATA DISPATCHES
Silver falls, then recovers after Trump holds off on critical mineral tariffs
Submitted by admin on Thu, 2026-01-15 10:02 Section: Daily Dispatches
By Yihui Xie and Jack Ryan
Bloomberg News
Thursday, January 15, 2026
Silver pulled back from a record high as investors took profits after a blistering rally and as the United States refrained from imposing import tariffs on critical minerals.
The white metal fell as much as 7.3% today before recovering much of the loss later in the session. Prices had surged by more than 20% over the previous four sessions, reaching an all-time high of $93.75 Wednesday.
President Donald Trump stopped short of imposing sweeping tariffs on critical mineral imports, including silver and platinum, saying he would instead pursue bilateral negotiations and floated the idea of price floors. The decision followed a months-long review into whether foreign shipments posed a threat to U.S. national security. …
… For the remainder of the report:
END
Myrmikan’s Dan Oliver: Gold is the best measure of the value of other assets
Submitted by admin on Thu, 2026-01-15 09:39 Section: Daily Dispatches
9:43a ET Thursday, January 15, 2026
Dear Friend of GATA and Gold:
In his new analysis, Myrmikan Capital manager Dan Oliver explains today how gold, as the best form of money, is also the best measure of the value of other assets, though, as now, gold will get ahead of prices generally and they eventually will catch up to gold.
Oliver concludes: “Myrmikan’s core investment thesis is that as a matter of economic law, commodities increase against gold in a credit boom, pressuring gold mining margins, and fall against gold in a credit bust, expanding gold mining margins. Rising interest rates and the waning of the dollar as the international reserve currency are credit negative and, therefore, gold-mining positive. The accidental oil/silver story adds to the thesis: A glut of oil in the West (at the expense of the East) and accelerating efforts to substitute away from oil will keep mining costs contained even as gold moves higher.
“This is not to say that oil and other commodity prices will not rally in nominal terms — we think they will — only that gold will continue to outpace them.
“Gold stocks soared in 2025. As discussed in other letters, returns that large usually come at the beginning of a bull market, as prices lurch up from the abyss, and at the end, when greed matures into a mania. We think it’s clear that the former condition applies.
“The Fed has lost its leverage. Credit will continue to decay. The deficit will not be reduced in nominal terms. The dollar cannot recover its former glory. Gold will trade higher, though with increasing volatility. Gold miners will not see significant margin compression. We think 2025 was the start of a multi-year bull market.”
Oliver’s analysis is headlined “Gold Measures the Real Value of Other Assets” and it’s posted in PDF format at the Myrmikan internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
END
There’s no real metal behind Comex’s new junior silver futures contract
Submitted by admin on Thu, 2026-01-15 08:17 Section: Daily Dispatches
The announcement cites “record retail demand” — but demand for what? Silver or paper? Is Comex just trying to divert investors from real metal and back into its usual racket, empty derivatives?
* * *
CME Group to Launch 100-Ounce Silver Futures to Meet Record Retail Demand
From CME Group, Chicago
Tuesday, January 13, 2026
CHICAGO — CME Group, the world’s leading derivatives marketplace, today announced it will launch a 100-ounce silver futures contract on February 9, 2026, pending regulatory review.
“Silver is increasingly appealing to retail traders looking to diversify their exposure across a wider range of metals in the face of geopolitical uncertainty and the energy transition,” said Jin Hennig, managing director and global head of metals at CME Group. “Hundred-ounce silver futures will improve access to a wider range of participants, enabling them to benefit from the liquidity and efficiencies that our futures markets provide.”
… Dispatch continues below …
“This new futures contract from CME Group supports our focus on building the best platform for active traders and offers customers a way to trade silver with less capital,” said JB Mackenzie, VP and GM of futures and international at Robinhood Markets. “In line with our mission to democratize finance for all, this contract makes it easier to participate in the silver market and gives traders even greater flexibility.”
“With silver in high demand, we are pleased that CME Group is expanding its smaller-sized offerings,” said Isaac Cahana, CEO of Plus500US. “This new contract will make it easier than ever for our global customers to capture silver opportunities in a flexible, cost-effective way.”
Growing retail demand for CME Group’s metal futures drove record trading volumes in 2025. It was a record year for trading both Micro Gold futures (301K ADV) and Micro Silver futures (48K ADV). Clients also traded over 6 million contracts in the 1-ounce gold futures contract launched on January 13, 2025.
Hundred-ounce silver futures will be financially-settled based on the daily settlement price of the global benchmark silver futures contract and will be listed by and subject to the rules of Comex.
For more information, please visit:
As the world’s leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash, and OTC markets, optimize portfolios, and analyze data — empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec, and foreign exchange trading on the EBS platform. In addition, it operates one of the world’s leading central counterparty clearing providers, CME Clearing.
END
REBALANCING ENDS TODAY:
Analyst amazed that gold and silver triumphed over commodity index rebalancing
Submitted by admin on Tue, 2026-01-13 20:37 Section: Daily Dispatches
Oh, Ted B. … Would that you were with us in this hour — to glory in it!
* * *
Gold Eases from Record as Traders Mull Rates; Silver Tops $89
Yvonne Yue Li and Jack Ryan
Bloomberg News
via Yahoo News, Sunnyvale, California
Tuesday, January 13, 2026
Gold eased from a record high as traders assessed the path of U.S. interest rates after an inflation reading came in weaker than expected and the Trump administration renewed attacks on the Federal Reserve. Silver topped $89 an ounce before paring some of the advance.
Bullion traded just above $4,600 an ounce after earlier surging to a fresh peak of $4,634.55. The dollar rose further after underlying U.S. inflation in December was not as high as feared, supporting the case for the Fed to lower interest rates later in the year. Swap traders continued to all-but-fully price in a Fed rate cut by the June policy meeting, with some chance of an earlier move but minimal odds of action at the Jan. 28 meeting.
While further interest rate easing later in the year would be positive for non-yielding gold, a stronger greenback weighed on the yellow metal as it is priced in the U.S. currency.
Still, the precious metal is supported by haven demand following an escalation of attacks on the Fed by the White House, which has opened a probe into the central bank’s headquarters renovation. President Donald Trump has said repeatedly he wants to fire Fed Chair Jerome Powell before the chair’s term ends in May.
The attacks helped propel gold to successive record highs last year, along with heightened trade and geopolitical risks and central-bank buying. Precious metals are carrying that momentum through to 2026.
“With just one day left of the annual commodity index rebalancing, the market’s strength during what should have been a period of mechanical selling is striking. Gold and silver absorbing that supply without flinching is sending a powerful signal to investors and reinforcing the sense that, for now, the bull train still has further to run,” said Ole Hansen, a strategist at Saxo Bank A/S.
Once a year, the Bloomberg Commodity Index, a widely tracked benchmark for a basket of commodities, resets its weights. The five-day roll period started Thursday. …
… For the remainder of the report:
END
Mike Maharrey: Unusual Comex trend could signal accelerating silver squeeze
Submitted by admin on Mon, 2026-01-12 15:07 Section: Daily Dispatches
By Mike Maharrey
Money Metals Exchange, Eagle, Idaho
Monday, January 12, 2026
An interesting development in the Comex silver exchange seems to reflect an accelerating silver squeeze.
The stage was set for a silver squeeze last April when significant amounts of metal moved from London to New York, driven by tariff worries. The displacement of metal, coupled with surging Indian demand, set off the first squeeze in October. That drove the silver price over $50 for the first time.
… Dispatch continues below …
Metal flowed back to London, but that didn’t solve the underlying problem. While shuffling silver between London, New York, and India took the immediate pressure off the market, it didn’t magically create new silver, and it didn’t take long for silver squeeze 2.0 to develop last month. That pushed the price over $80.
This squeeze isn’t manifesting just because metal is in the “wrong place.” The underlying issue is that there are true shortages beginning to manifest. …
… For the remainder of the analysis:
* * *
4. ANDREW MAGUIRE/LIVE FROM THE VAULT KINESIS / AND TODAY;S 254
5. COMMODITY REPORT//:silver
silver price physical in tokyo? in shanghai?
Searching the web
53 results
Browsing web page
As of January 15, 2026, the global spot price for silver (the benchmark “paper” price from major markets like COMEX/LBMA) is approximately $92–93 USD per troy ounce, with minor fluctuations across sources (e.g., around $92.78 bid on Kitco, $92.88–$93.59 on other trackers).Physical silver prices (for actual bars, coins, or ingots) can differ due to local supply/demand, premiums, taxes, and delivery costs.In Tokyo (Japan)Physical silver retail prices are quoted in Japanese Yen (JPY), and the spot-equivalent price aligns closely with the global spot when converted. Current live quotes show:
- Around ¥14,400–14,600 JPY per ounce (e.g., ~¥14,642 on GoldBroker, ~¥14,459 on SilverPrice.org).
- This converts to roughly $92–94 USD per ounce at prevailing exchange rates, similar to the global spot.
- Per gram: ~¥465–471 JPY (about $3 USD/gram).
Some reports and social media discussions from early 2026 claimed extreme premiums (e.g., physical silver trading at $120–$130 per ounce in Tokyo due to supply shortages or yen volatility), but current data from reliable bullion sites and converters does not reflect such a large disconnect. Retail purchases in Japan (e.g., from dealers like Tanaka Kikinzoku) typically include modest premiums over spot for physical product, but nothing at the exaggerated levels seen in anecdotal claims.In Shanghai (China)Physical and benchmark prices on the Shanghai Gold Exchange (SGE) and related markets show a notable premium over the global spot:
- SGE-related physical/deliverable prices are trading at around $99–101 USD per ounce (e.g., AM/PM fixes around $99.84–$100.46 on some trackers, with premiums of ~$10–13 over Western spot).
- Shanghai Metals Market (SMM) lists 1# silver ingots at ~$2,840–2,847 USD per kg (equivalent to ~$88–91 per ounce at spot conversion, but adjusted benchmarks show higher effective physical levels).
- Recent data indicates a persistent premium of about $10–13 USD per ounce for physical silver in China, driven by strong local demand and supply dynamics.
This means physical silver in Shanghai is more expensive than the global spot, reflecting tighter physical conditions in Asia compared to Western paper markets.Note: Prices are live and volatile—always check real-time sources like Kitco, BullionVault, or official exchanges for the latest. Physical purchases often add retail premiums (5–20%+ depending on form, quantity, and dealer), taxes, or shipping. For investment, compare global spot to local dealer quotes in your area.
5B. COMMODITY REPORT//SILVER/SILVER LEASE RATES:/SILVER
ROBERT LAMBOURNE/GOLD AND SILVER
Adjusting Imports of Processed Critical Minerals and Their Derivative Products into the United States – The White House
| Robert Lambourne | 2:44 AM (4 hours ago) | ||
to Chris, me | |||
This will presumably affect silver and possibly gold, if gold is going to be heavily used in building data centres.
Without getting too tied up in the detail, I’m struggling to believe that using tariffs when there is no or not enough processing capability in the country is the best approach.
Presumably this adds to the pressures towards higher silver prices.
END
KEVIN W..
SHFE
Inbox
| Kevin Wallien | 7:06 AM (0 minutes ago) | ||
| to me | |||
Gold too now appears to be consistently being priced at $10-14 higher than NY Comex and of course silver $10 plus.
The former is a change from what I saw in Oct-Dec
2.ASIAN AFFAIRS JAN 13/2025
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS THURSDAY MORNING.7:30 AM
SHANGHAI CLOSED DOWN 13.49 PTS OR 0.33%
//Hang Seng CLOSED DOWN 76.19PTS OR 0.29%
// Nikkei CLOSED DOWN 230.73PTS OR 0.73%
//Australia’s all ordinaries CLOSED UP .30%
//Chinese yuan (ONSHORE) CLOSED UP TO 6.9672
/ OFFSHORE CLOSED UP AT 6.9623 Oil DOWN TO 59.64 dollars per barrel for WTI and BRENT DOWN TO 64.35 Stocks in Europe OPENED ALL MIXED
ONSHORE USA/ YUAN TRADING UP TO 6.9672OFFSHORE YUAN TRADING UP TO 6.9623 ONSHORE YUAN TRADING BELOW OFF SHORE AND UP ON THE DOLLAR// / AND THUS STRONGER//OFF SHORE YUAN TRADING UP AGAINST US DOLLAR/ AND THUS STRONGER
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS THURSDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP AT 6.9672
OFFSHORE YUAN: UP TO 6.9623
HANG SENG CLOSED DOWN 76.19PTS OR 0.29%
2. Nikkei closed DOWN 230.72 PTS OR 0.73%
WEST TEXAS INTERMEDIATE OIL DOWN 59.64
BRENT; 64.35
3. Europe stocks SO FAR: ALL MIXED
USA dollar INDEX UP TO 98.98 /// EURO FALLS TO 1.1633 DOWN 12 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +2.169/ UP 1/3 FULL BASIS PTS/ VERY TROUBLESOME//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 158.56… 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: 3.472 DOWN 4 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 DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: UP OFFSHORE: UP
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil DOWN for WTI and BRENT DOWN this morning
59.64 VS 64.35
3h European bond buying continues to push yields HIGHER on all fronts in the EMU. German 10yr bund YIELD UP TO +2.8235 Italian 10 Yr bond yield DOWN to 3.415 SPAIN 10 YR BOND YIELD DOWN TO 3.219
3i Greek 10 year bond yield DOWN TO 3.334
3j Gold at $4616.50 Silver at: 91.00 1 am est) SILVER NEXT RESISTANCE LEVEL AT $100.00
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 11/100 roubles/dollar; ROUBLE AT 78.61
3m oil (WTI) into the 59 dollar handle for WTI and 64 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 158.91 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 2.169% UP 1/3 BASIS PTS STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE IS NOW UNWINDING//YEN BOND TRADING OVERSEAS REPATRIATED.//JAPAN 30 YR: 3.472 DOWN 4 BASIS PTS.
30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.8010 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9315 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.
USA 10 YR BOND YIELD: 4.150 UP 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.788 DOWN 1 BASIS PTS/
USA 2 YR BOND YIELD: 3.530 DOWN 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 43.19UP 4 BASIS PTS/LIRA GETTING KILLED
10 YR UK BOND YIELD: 4.3800 UP 3 PTS
30 YR UK BOND YIELD: 5.113 UP 3 BASIS PTS
10 YR CANADA BOND YIELD: 3.366 DOWN 2 BASIS PTS
5 YR CANADA BOND YIELD: 2.889 DOWN 5 BASIS PTS.
1a New York OPENING REPORT
Futures Jump As Blowout TSMC Earnings Reboot Tech Trade
Thursday, Jan 15, 2026 – 08:30 AM
US equity futures are higher led by Tech stocks which bounced back on Thursday after chipmaker TSMC revived confidence in the durability of artificial-intelligence demand, as signalling a strong outlook with $56BN in CapEx spending in 2026 (a 25% increase), restoring confidence in global AI growth and sending Europe’s ASML to a record high. Silver dropped for the first time in 5 days from a record high as the US held off from attacking Iran and refrained from imposing import tariffs on critical minerals. As os 8:00am ET, S&P 500 futures were 0.4% higher with Nasdaq 100 contracts +0.7%. Pre-market, Mag 7 are all higher led by NVDA (+1.4%), AMZN (+0.7%), TSLA (+0.5%) and MSFT (+0.5%).Goldman Sachs and Morgan Stanley are also higher after reporting solid Q4 earnings. Bond yields are unchanged; The US dollar is 7bps higher. Commodities are mostly lower: oil fell 4.4%; silver is down 2.0%; metals are mostly lower today. Situation in Iran is closely watched, as an Iran official pledged not to execute protesters. Trump said he has no plan to fire Powell in a RTRS article. Today’s US economic calendar includes January Empire manufacturing and Philadelphia Fed business outlook, November import/export prices, and weekly jobless claims (8:30am) and November TIC flows (4pm).
In premarket trading, Nvidia leads Mag 7 stocks after TSMC’s stellar outlook. All Mag 7 stocks are higher (Nvidia +1%, Amazon +0.7%, Tesla +0.4%, Alphabet +0.5%, Microsoft +0.4%, Meta Platforms +0.3%, Apple is little changed)
- Applied Materials (AMAT) rises 7% as Barclays upgrades to overweight. The chip-tool maker is also getting a boost after TSMC set a bullish capital spending target, signaling strong demand for AI chips.
- Chip equipment stocks lead gains in the semiconductor sector after TSMC set its 2026 capital spending target above investor expectations, signaling confidence in the AI boom.
- Bitmine Immersion Technologies (BMNR) rises 1.1% after investing $200 million in Beast Industries, a content creation company founded by YouTube creator MrBeast.
- BlackRock (BLK) gains 1.9% after the asset manager reported adjusted EPS and net inflows that came in above the average analyst estimates.
- Calavo Growers (CVGW) rises 14% after Mission Produce agreed to buy the avocado producer for $27 per share in cash and stock, at enterprise value of about $430 million. Mission Produce (AVO) -6%.
- Morgan Stanley (MS) rises 1.3% after posting quarterly results.
- Penumbra (PEN) rises 11% as Boston Scientific agreed to buy the company in a cash and stock deal that values Penumbra at $374/share.
- Talen Energy Corp. (TLN) gains 10% after signed agreements to acquire three natural gas power plants from Energy Capital Partners for $3.45 billion.
In corporate news, Amazon is challenging Saks’ bid to fund its bankruptcy with financing that would provide the retailer with fresh cash, saying it would harm Amazon and other unsecured creditors. Paramount Skydance named a new CFO as it continues to fight for control of Warner Bros. Elon Musk’s xAI is disabling the ability for people to use Grok to create sexualized images of real people, following widespread criticism.
After a week filled with geopolitical tensions and Trump wild cards, the AI story is back and boosting stocks. TSMC’s big beat and huge capex forecast, is fueling optimism that the AI boom has plenty of room to run. The AI-bellwether said it would lift capital spending by at least a quarter to as much as $56 billion in 2026 and forecast faster-than-expected revenue growth. Here is a summary of the blowout results and guidance that TSMC just reported:
- Net Profit 505.7bln (exp. 467bln),
- Revenue 1.046tln (exp. 868.46bln),
- CapEx USD 40.9bln (exp. USD 40-42bln).
- Q4 gross margin 62.3% (exp. 60.6%), +3.3ppts Y/Y.
- Q4 revenue from high performance computing +4% Q/Q.
- Q4 revenue from smartphones +11% Q/Q.
- Q4 revenue from IoT +14% Q/Q.
- Guides Q1 Revenue between USD 34.6-35.8bln (exp. 33.2bln),
- Guides Gross Margin between 63-65% (exp. 59.6%),
- Sees Operating Margin between 54-56% (exp. 50%),
- 2026 CapEx to come in between 52-56bln (prev. 40.9bln in 2025)
- Capex is to be higher in the next three years. Cost of tools are becoming more expensive. Long term gross margins of 56% and higher is achievable. In 2026 there are uncertainties from tariffs.
- Will be prudent in business planning. Robust AI-related demand. Increasing AI model adoption. 2026 sales to grow by close to 30% in USD terms. Preparing to increase capacity to support customers.
- Customers are providing strong signals and reaching out directly to request capacity. Firms have been showing TSMC that AI is a significant help to their businesses. Announces plans to expand its fabrication facilities in Arizona. Co. is worried about electricity in Taiwan. Co. informed that Silicon from TSMC is a bottleneck with the Co. aiming to deal with the bottle neck first and foremost. Reduced their 6 and 8 inch wafer capacity to optimise resources.
Chip-equipment makers led gains within the sector. ASML Holding NV, which counts TSMC as its biggest customer, jumped more than 5% in Amsterdam. TSMC suppliers Applied Materials Inc. and Lam Research Corp. rose more than 7% in premarket trading. AI heavyweights such as Nvidia Corp. and Alphabet Inc. also advanced, though the gains were more muted.
TSMC’s “approach to guidance suggests further upside to consensus estimates and supports a constructive outlook,” said Gary Tan, a portfolio manager at Allspring Global Investments.
The renewed optimism around AI follows weeks of steady rotation away from mega-cap technology stocks and toward a broader set of companies leveraged to improving growth prospects. The trend saw the S&P 500 post its first back-to-back losses on Wednesday even though a majority of its members advanced. The rotation trade sweeping through equities is highlighted in a Goldman Sachs survey. “Technology remains the top pick, though its lead has narrowed compared to last year — mirroring the decline in enthusiasm for the US market,” strategist Guillaume Jaisson wrote.
Elsewhere, in tech news, OpenAI signed a $10 billion deal with Cerebras for computing power, with ambitions to make ChatGPT the fastest platform in the world. Alibaba showcased plans to link flagship services and build Qwen into a one-stop AI platform. Today’s Tech Watch looks at how soaring prices for memory and storage are causing headaches for customers.
In other assets, oil was down for the first time in six days as Trump indicated he’s holding off on any attack on Iran for now, a statement that also put the rally in gold on pause. Silver dropped after the US refrained from imposing tariffs on critical minerals. But it did levy a 25% tariff on imports of certain advanced semiconductors, a key step in allowing Nvidia to ship Taiwan-made H200 AI processors to China.
In geopolitics, China banned cybersecurity products from American and Israeli firms, including Palo Alto Networks and Fortinet. Trump told Reuters he sees Ukraine’s leader Volodymyr Zelenskiy as the main obstacle to an agreement to end the war Russia launched four years ago. And Germany will take the lead of European nations sending military personnel to Greenland. Trump also told Reuters that he doesn’t plan to fire Powell despite the DoJ probe.
European stocks are mostly positive with a TSMC-led surge in ASML shares lifting the Euro Sstoxx 50 higher by 0.5%. CAC 40 lags with the luxury sector weighed down by Richemont’s margin concerns. Here are some of the biggest movers on Thursday:
- VAT Group hares gain as much as 18%, the most since April, as preliminary net sales for the full year show an earlier upswing than analysts had previously expected.
- ASML shares soar as much as 7.7% to a record high, after its key customer Taiwan Semiconductor Manufacturing Co. gave a stronger-than-anticipated outlook for 2026.
- Schroders shares gain as much as 8.9%, hitting their highest level since August 2023, after the asset management group said annual adjusted operating profit will come in ahead of expectations.
- Swedbank shares jump as much as 6.7% to a record high after the US Department of Justice closed a yearslong investigation without imposing penalties.
- Ashmore Group shares rally as much as 17% after the emerging markets-focused asset manager reported the first monthly net inflows since 2021.
- Richemont shares reverse earlier gains to slide as much as 3.4%, as worries over margins at the Swiss owner of Cartier and Van Cleef overshadow a robust sales report.
- Repsol shares drop as much as 7%, the most since April, after the Spanish oil company released a trading statement that analysts view as mixed, with a miss on upstream production.
- OMV shares drop as much as 2.9% after the Austrian oil and gas company reported fourth-quarter production that missed estimates.
- Dunelm shares slide as much as 18%, the most since March 2020, after the homeware retailer reported softer-than-expected results and downgraded first-half pretax profit guidance.
- Taylor Wimpey shares fall as much as 5.2%, the most in three months, as the UK homebuilder guides that margins will be lower in 2026 than in 2025.
Asian stocks were slightly lower, with declines in some of last year’s big AI winners pulling down the regional benchmark. The MSCI Asia Pacific Index fell 0.2% as markets consolidated after three straight sessions of gains. Japan’s Advantest and Tokyo Electron lost more than 3% each. Trip.com’s shares were another big drag, plunging more than 20% in Hong Kong after Chinese regulators said the online travel agency was being investigated over alleged antitrust conduct.
In FX, the yen was able to claw back losses versus the dollar after a report that the BOJ is increasingly focused on the weak currency. Bloomberg Dollar Index is flat. The pound is down despite a beat for monthly UK GDP.
In rates, treasuries hold small losses amid similar price action in European government bonds as US stock futures climb. Front-end tenors lead gilts selloff after UK GDP beat estimates, curbing wagers on BOE rate cuts. US session includes weekly jobless claims data and five scheduled Fed speakers. US yields are 2bp-3bp cheaper with belly leading losses, flattening 5s30s spread by 1.2bp; 10-year at 4.15% is near session high, 2bp cheaper on the day, with UK front-end yields higher by 4bps. IG dollar new-issue slate includes five names so far; seven borrowers priced a combined $12.65 billion Wednesday, led by JPMorgan with a three-part, $6 billion offering. Issuers paid negative concessions on deals that were 5.6 times oversubscribed. US, German and UK 10-year yields are higher by 1-2 basis points. UK curve has bear-flattened post-GDP.
In commodities, spot gold and silver are lower but off worst levels following a slide during APAC hours. Crude futures fall after US President Donald Trump signaled he may refrain from attacking Iran for now. Bitcoin is down 0.8%.
Today’s US economic calendar includes January Empire manufacturing and Philadelphia Fed business outlook, November import/export prices, and weekly jobless claims (8:30am) and November TIC flows (4pm). Scheduled Fed speakers include Goolsbee (8:30am), Bostic (8:35am), Barr (9:15am), Barkin (12:40pm) and Schmid (1:30pm).
Market Snapshot
- S&P 500 mini +0.4%,
- Nasdaq 100 mini +0.7%
- Russell 2000 mini +0.2%
- Stoxx Europe 600 +0.3%
- DAX little changed, CAC 40 -0.3%
- 10-year Treasury yield +1 basis point at 4.14%
- VIX -0.5 points at 16.22
- Bloomberg Dollar Index little changed at 1210.7
- euro little changed at $1.1638
- WTI crude -4.5% at $59.24/barrel
Top Overnight News
- Oil fell for the first time in six days after Donald Trump signaled he may hold off on attacking Iran for now after being reassured that Tehran would stop killing people involved in protests. BBG
- U.S. President Donald Trump said on Wednesday he has no plans to fire Jerome Powell despite a Justice Department criminal investigation into the Federal Reserve chair, but it was “too early” to say what he would ultimately do. RTRS
- Volodymyr Zelenskiy is the main obstacle to an agreement to end Ukraine’s war with Russia, Trump claimed, telling Reuters that Vladimir Putin is “ready to make a deal.” BBG
- Nasdaq futures swung to a gain (NDX futs +85 bps pre mkt) after TSMC renewed confidence in AI demand, earmarking as much as $56 billion in capital spending for 2026. ASML’s shares rallied to a record on its client’s upbeat outlook. BBG
- The US is intensifying pressure on Mexico to allow US military forces to conduct joint operations to dismantle fentanyl labs inside the country. NYT
- Coinbase Global Inc. has pulled its support for the current version of the market-structure bill due for markup in the Senate Banking Committee on Thursday. Coinbase’s CEO Brian Armstrong cited “too many issues” with the bill, including a defacto ban on tokenized equities and DeFi prohibitions. BBG
- China’s central bank rolled out targeted easing measures to bolster support for sectors deemed strategic by Beijing, as policymakers seek to ensure a strong start to the year. The PBOC will cut rates on its structural policy tools by 0.25 percentage point, lowering the rate on one-year relending facilities to 1.25%. WSJ
- Leaders of Japan’s main opposition Constitutional Democratic Party of Japan and the lay Buddhist organization-backed Komeito agreed on Thursday to establish a new party bringing together “centrist forces” to fight a snap parliamentary election in February. Nikkei
- Hedge funds are betting the yen may slide to 165 a dollar before authorities intervene, with traders using options to position for a weakening currency. BBG
- BofA card spending, week to January 10th: +4.6% Y/Y (prev. 1.7%). Strong growth across most categories, partially due to favorable base effects.
Trade/Tariffs
- Japanese Finance Minister aims to make progress in selecting projects as part of Japan and US bound investment package if PM Takaichi meets with US President Trump. Fiscal reform is impossible with economic growth. said next years financial budgets reliance on debt is at a sustainable pace.
- Canada and China sign a trade cooperation MOU. Both sides committed to resolving outstanding agricultural trade issues by maintaining open channels of communication.
- Indian Trade Secretary on the India-EU trade deal negotiation said some agricultural items remain off the table.
- Indian Trade Secretary said a deal with the EU is very close but there’s still room for further negotiations to solve various issues.
- China’s Foreign Minister said they are ready to strengthen cooperation and trust with Canada.
- China is said to be drafting purchase rules for NVIDIA’s (NVDA) H200 chips, Nikkei reported, as an attempt to balance its desire to foster domestic chip development with Chinese tech firms.
- Taiwan’s government said Taiwan and the US have previously held multiple discussions and reached consensus on preferential tariff treatment for semiconductors and related products under Section 232. Taiwan’s government said Taiwan will subsequently schedule a separate meeting with the Office of the U.S. Trade Representative to sign the Taiwan–US trade agreement documents.
- The White House said President Trump imposed a 25% tariff on certain advanced computing chips, such as NVIDIA (NVDA) H200 and AMD (AMD) MI325X chips. Depending on the outcome of negotiations, President Trump may consider alternative remedies in the future, including minimum import prices for specific types of critical minerals. The Secretary and the trade representative should consider price floors for trade in critical minerals and other trade-restricting measures. The US chip tariff will not apply to chips imported for US technology supply.
- The White House said that in the near future, US President Trump may impose broader tariffs on semiconductor imports and their derivative products.
- US President Trump ordered the Commerce Dept. and USTR to negotiate agreements with foreign suppliers to reduce US reliance on imported processed critical minerals, citing national security risks. Negotiators have 180 days to secure binding or enforceable agreements.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks traded mostly in the green, outperforming their US counterparts, though the Nikkei lagged the region. ASX 200 continued its trend higher as mining and materials names advanced, supported by fresh ATHs in metals and news that Rio Tinto and BHP are collaborating on iron ore extraction in the Pilbara. Nikkei 225 underperformed, slipping back below 54,000 as reports that opposition parties CDP and Komeito have begun talks to form a new party weighed on sentiment. KOSPI traded comfortably in the green, extending to new ATHs and nearing 4,750, whilst the BoK kept rates steady as expected in a unanimous decision. Hang Seng and Shanghai Comp saw mixed trade, with the Hang Seng hovering just below ATHs near 27,380 while the Shanghai Composite oscillated around the unchanged mark as Chinese markets struggled for traction.
Top Asian News
- Earthquake of magnitude 5.5 in the Hokkaido region in Japan, EMSC reported.
European equities (STOXX 600 +0.4%) opened mixed to higher. AEX (+1%) outperforms, lifted by strong gains in ASML (+5.5%) following robust TSMC earnings & guidance, which showed a 35% jump in Q4 profit. European sectors are mixed. Tech (+1.7%) leads, driven by strength in ASML (+5.5%), while Financial Services (+1.2%) are boosted by post-earning strength in Partners (+6.2%). Consumer Products initially boosted by gains in Richemont (-2.2%), but the Co. has since slipped into negative territory. Q3 earnings were strong, but Richemont did highlight that rising material costs continuing to weigh on margins.
Top European News
- BoE Credit Conditions Survey: Demand for secured lending for remortgaging was unchanged in Q4, and was expected to increase in Q1. Within the overall figure, demand for credit card lending increased in Q4, and was expected to be unchanged in Q1. Demand for corporate lending in Q1 was expected to be unchanged for small, medium-sized, and large businesses.
- ECB’s de Guindos said “it is very important for all of us that the principle of central bank independence is also applied to the Federal Reserve.”.
Central Banks
- US President Trump said no plans to remove Fed Chair Powell.
- US President Trump rejects criticism from Senate Republicans of the Justice Department probe of Fed chair Jerome Powell and said “they should be loyal.”; speaks highly of Kevin Hassett and Kevin Warsh.
- BoJ is reportedly likely to keep rates steady in January; some officials are said to be concerned over the economic impact of a weak JPY, Bloomberg reported. If the JPY continues to weaken, then the pace of future rate hikes could be accelerated. But, policy will remain on hold in January. Possible that the negative aspects such as a further JPY depreciation and the impact on personal consumption, will become a point of concern.
- BoJ Governor Ueda said mechanism under which wages and prices rise moderately in tandem likely to be sustained. BoJ is expected to keep raising interest rates if targets are met.
- ECB’s Kazaks said policy rates are optimally positioned as inflation trends improve. Warns that inflation and growth risks are balanced and emphasises the need for vigilance.
- PBoC cuts the one-year relending facility rate to 1.25% (prev. 1.50%), to increase tech innovation quotas by CNY 400bln to CNY 1.2tln. Central Bank to boost relending quotas to power tech innovation. Pledges continued liquidity support via open market tools. Overnight rates will be guided to hover near policy rates. Will maintain ample liquidity to support bond issuance. Will flexibly conduct government bond operation going forward. Lowers minimum down payment for commercial property loans to 30% to boost market inventory clearance. No intention to use currency depreciation for trade advantage. Will guide expectation and prevent overshooting in CNY risk.
- China’s PBoC Deputy Governor announces plans to release a series of monetary and financial measures.
- Bank of Korea keeps Base Rate unchanged at 2.50%, as expected. Removes “potential rate cut” reference from the statement.
- BoK Governor Rhee said the Government is to make an announcement on the US trade deal and the FX market later in the day.
- BoK Governor Rhee said rate decision was unanimous, need to remain cautious on FX volatility. 5 members see a ‘high chance’ of a hold in the next 3 months, 1 sees a cut in the near-term. Addressing FX volatility requires immediate steps as well as structural reforms. A weak KRW is not likely to trigger any financial crisis and have ample amounts of USDs.
FX
- DXY is flat and trades within a very thin 99.08-23 range; currently just above its 50 DMA at 99.02. Focus overnight has been on geopols, whereby President Trump said Iran has “no plan” to execute protestors. Back in the US, Trump said he has no plans to remove Fed Chair Powell, whilst also speaking highly of the prospective new Fed Chairs Hassett and Warsh.
- GBP currently trades flat, within a 1.3423-1.3446 range; the peak for today is a handful of pips short of its 21 DMA at 1.3452. Some strength was seen in Cable following the region’s GDP series, which topped expectations and has Q4 GDP on track to surpass the BoE’s forecast of no growth. Pantheon Macroeconomics said it expects UK growth to improve to 0.4% Q/Q in Q1 as Budget uncertainty fades, seasonality lifts the New Year, and September’s cyber-attack volatility limits spare capacity, keeping the MPC cautious.
- JPY is flat this morning, but subject to volatility, after Bloomberg reported that the BoJ is likely to keep rates steady in January; some officials are said to be concerned over the economic impact of a weak JPY. The piece added that if the JPY continues to weaken, then the pace of future rate hikes could be accelerated. But, policy will remain on hold in January. This spurred immediate pressure in USD/JPY, falling from 158.68 to 158.33.
- China’s FX regulator will formulate a basket of policy measures to promote cross-border financing.
Fixed Income
- A contained start for fixed benchmarks. Haven allure that was helping on Wednesday has been removed by the updates around Iran (see Commodities for details).
- That aside, newsflow has been a little light and largely focused on nation-specifics rather than broader macro drivers; though, TSMC earnings are the exception, again, see the feed for details.
- USTs have spent the morning in a narrow 112-11 to 112-17+ band, Bunds in equally slim 128.23 to 128.46 confines with both benchmarks flat overall. However, a modest bullish bias is beginning to emerge, more so for EGBs than USTs, potentially as the morning’s supply from Spain has now passed and was well received, digestion of the Ukraine-Russia-US situation and/or the pulling back of crude benchmarks weighing on yields. Though, the latter narrative is clouded by the gains in European gas.
- Gilts opened marginally softer and then slipped a few ticks further to a 92.67 base despite the firmer lead from EGBs. UK debt weighed on by strong GDP data for November, a series that has the Q4 trend tracking above the BoE’s estimate of no growth for the period. However, this pressure proved shortlived with Gilts grinding higher and the marginal outperformer, posting upside of just over 10 ticks.
- Spain sold EUR 5.86bln vs exp. EUR 5-6bln 2.35% 2029 Bono & 3.50% 2041, 1.45% 2071 Bonds.
Commodities
- Crude benchmarks are on the back foot and remain near lows of USD 58.99/bbl and USD 63.46/bbl for WTI and Brent after some of the pressure was let out of the US-Iran situation. A move driven in late US hours by President Trump saying he had been told that the killing within Iran was stopping. However, we then saw some reports of explosions in Tehran, an update that sparked a short-lived spike of c. USD 0.50/bbl, before paring amid some uncertainty around the validity of that report.
- As discussed earlier in the week, gas benchmarks remain bid with gains of nearly a EUR/Mwh at a EUR 33/MWh peak for Dutch TTF. Drivers for the space include any potential impact to Iranian flows to Turkey, the above Ukraine situation escalating and the continued cold spell in Europe.
- Precious metals are broadly in the red this morning, following on from the subdued action seen overnight. Negative action this morning due to some unwinding of recent geopolitical risk premia after US President Trump said that he had been told the killing in Iran is stopping and that there is no plan for executions. As a reminder, the President had repeatedly threatened action against the Iranian regime, if they killed protestors. As it stands spot gold trades at the lower end of a USD 4,580.98-4,632.45/oz range.
- Base metals are also following precious peers lower; 3M LME Copper trades just above the USD 13k/t mark, in a USD 12,914-13,216.35/t range – downside which also follows the negative sentiment seen across the Chinese equities space.
- US Ambassador announces plan to work with Belgium on a USD 50bln LNG deal.
- The US is said to be considering private contractors to safeguard oil in Venezuela, CNN reported citing sources.
- US President Trump said it would be better for Venezuela to remain in OPEC but is unsure if this would be beneficial to the US.
Geopolitics: Ukraine
- US President Trump said Ukrainian President Zelensky is to blame for the current stalemate in Russia–Ukraine negotiations, adding that Russian President Putin is “ready to make a deal.”.
Geopolitics: Middle East
- “Flight restrictions in Iran lift, without explanation,” AP reported.
- UN Security Council plans to meet with Iran at 15:00 EST / 20:00 GMT on Thursday, AFP reported.
- Iran has extended its airspace closure NOTAM until 03:30 UTC (~2 hours from now).
- US President Trump said Iran’s government could fall due to unrest but “any regime can fail”.
- US President Trump has told his National Security team that any US military action in Iran to be swift and decisive, NBC News reported citing sources; adds that a sustained war is undesirable. Trump’s advisors have so far not been able to guarantee a quick collapse of Iran’s regime.
- NOTAM over Iran has expired, according to reported.
- Iran’s Foreign Minister Araghchi said there have been many threats by US President Trump and others but we are in control, hopes tensions do not reach a high level; no plans to carry out executions against protestors. Not ready to give up our legitimate right to the peaceful use of nuclear technology.
- Iran issues NOTAM to close all airspace, according to reported; “NOTAM is valid for a little more than 2 hours”; closes airspace to all flights except international flights to Iran with prior permission.
- “All the signals are that a US attack [against Iran] is imminent, but that is also how this administration behaves to keep everyone on their toes. Unpredictability is part of the strategy,” Reuters reported, citing a Western military official.
- The X account which flagged the initial explosions in Tehran said they have deleted the post “as the source appears to be a bit flimsy, though reporting on any potential action is going to be difficult due to the ongoing internet blackout across Iran”.
- US President Trump has made it clear to the National Security team his goals for any US military action in Iran, NBC news reported.
- Maersk (MAERSKB DC) MECL service returns to trans-Suez route; following improved stability in the Red Sea, enabling more efficient transit times while maintaining safety as the top priority.
Geopolitics: Other
- Colombia President Petro is to meet with US President Trump on February 3rd.
- US President Trump posted “had a very good call with the Interim President of Venezuela, Delcy Rodríguez. We are making tremendous progress, as we help Venezuela stabilize and recover.”. “Many topics were discussed, including Oil, Minerals, Trade and, of course, National Security.”.
- The US Senate votes 51-50 in favour to allow US President Trump to act on Venezuela military action without Congressional approval; VP Vance casting the deciding vote.
- Chinese officials have reached out to counterparts in Venezuela and the US to seek assurances regarding their loans to Venezuela, Bloomberg reported citing people familiar with the matter.
US Event Calendar
- 8:30 am: United States Jan Empire Manufacturing, est. 1, prior -3.9
- 8:30 am: United States Jan Philadelphia Fed Business Outlook, est. -1.35, prior -10.2, revised -8.8
- 8:30 am: United States Jan 10 Initial Jobless Claims, est. 215k, prior 208k
- 8:30 am: United States Jan 3 Continuing Claims, est. 1897k, prior 1914k
- 8:30 am: United States Fed’s Goolsbee Speaks on CNBC
- 8:35 am: United States Fed’s Bostic Delivers Remarks at Metro Atlanta Chamber
- 9:15 am: United States Fed’s Barr in Penal Discussion on Stablecoins
- 12:40 pm: United States Fed’s Tom Barkin Speaks on Virginia Economic Outlook
- 4:00 pm: United States Nov Total Net TIC Flows, prior -37.3b
DB’s Jim Reid concludes the overnight wrap
Markets faced a growing array of geopolitical risks yesterday, with oil prices seeing large swings as investors focused on the latest developments in Iran. At one point, Brent crude even reached its highest intraday level since September as speculation about a US intervention gathered pace, at $66.82/bbl, but this morning it’s fallen back to $64.24/bbl after Trump suggested he’d hold off an attack for now. That also led to huge swings in precious metals, with yesterday seeing new records for gold (+0.87% to $4,627/oz) and silver (+7.14% to $93.16/oz), before they also came down this morning after Trump held off on imposing tariffs on critical minerals. Otherwise, the main equity story was a slide for tech stocks, with the Mag 7 (-1.56%) pushing down the S&P 500 (-0.53%). But despite all that, there was still a lot of resilience among equities more broadly, as most of the S&P’s constituents still advanced, pushing the equal-weighted index (+0.40%) to a record high, alongside a new record for Europe’s STOXX 600 (+0.18%). So, for now at least, most equities have been unfazed by the geopolitical developments.
In terms of those various market drivers, Iran was the main story yesterday as oil prices reacted to different headlines. The initial surge was caused by a Reuters report, which said that some personnel had been advised to leave the US military’s Al Udeid Air Base in Qatar. That was significant because the base previously saw an Iranian missile attack last June, so the story added to fears that some sort of escalation might take place imminently. However, Trump later downplayed the magnitude of tensions, saying “we’ve been told that the killing in Iran is stopping — it’s stopped… And there’s no plan for executions”. So that was taken as a signal that the US might hold off on a potential military response, with Brent falling by $3 in just over half an hour before partially recovering. There’s clearly lingering caution, not least given the unexpected timing of US strikes on Iran in June 2025, and at $64.24 this morning Brent crude is still clearly above its lows below $60/bbl last week, but Trump’s comments had a clear impact. Bear in mind as well that Iran is a more significant oil producer than Venezuela, producing 4% of the world’s total in 2023, so developments there have the potential for wider spillovers in the oil market.
In the meantime, there were fresh headlines on Greenland, as Trump posted that “The United States needs Greenland for the purpose of National Security.” That came ahead of a meeting between Vice President JD Vance and Secretary of State Marco Rubio with the foreign ministers of Denmark and Greenland. After the meeting, the sides agreed to set up working groups to see if a way forward could be found, but Denmark’s foreign minister said that they “still have a fundamental disagreement” with the US, adding that demands that would violate Denmark and Greenland’s sovereignty were “totally unacceptable”.
Whilst the geopolitical developments had a big impact in commodity markets, there wasn’t much direct effect on bond and equity markets. Admittedly, the S&P 500 was down -0.53% yesterday, but that was because of a slump for tech stocks, with the Magnificent 7 down -1.56%, in contrast to most of the S&P’s constituents which rose yesterday, with 318 moving higher. So we saw more of the rotation pattern at play since the start of the year, with the small-cap Russell 2000 (+0.70%) hitting a new record as it outperformed the S&P 500 for the ninth session in a row. Indeed, the Russell 2000 is now up +6.84% YTD, in contrast to a -1.49% decline for the Mag-7. Otherwise, there was ongoing weakness among US banks, with the KBW Bank index (-0.70%) down for a 4th consecutive session, which came as Wells Fargo (-4.31%), Citigroup (-3.89%) and Bank of America (-2.06%) all fell back after their latest earnings reports.
In the meantime, it was a very strong session for US Treasuries, with the 2yr yield (-2.3bps) falling to 3.51%, whilst the 10yr yield (-4.7bps) posted its biggest decline in almost two months, down to 4.13%. That came as investors priced in more rate cuts ahead, with futures now pricing in 54bps of cuts by the December meeting, up +1.8bps on the day. Interestingly, that was despite some hawkish comments from Fed officials, with Minneapolis Fed Kashkari expressing concern on inflation in an NYT interview, saying that it was “entirely plausible that we are sitting here well above our target for two to three more years”, and “Then we’re looking at seven or eight years of elevated inflation. That’s very concerning to me.” On similar lines, Atlanta Fed President Bostic also said that “The inflation challenge has not been won yet”. But Philadelphia President Paulson said that she saw “inflation moderating, the labor market stabilizing and growth coming in around 2% this year”, and that if that happened, “some modest further adjustments to the funds rate would likely be appropriate later in the year”.
In Asia, the main news yesterday came from Japan, where it looks increasingly as though Prime Minister Takaichi is going to call a snap election. That hasn’t been officially confirmed, but Hirofumi Yoshimura, who is the leader of the Japan Innovation Party, said that Takaichi had told colleagues that she’d be dissolving the lower house soon after it reconvenes on Jan 23. Nevertheless, Japanese assets had already reacted to the speculation, and this morning the 10yr yield has come off of its post-1999 high the previous day, down -1.7bps to 2.15%. That’s also despite BoJ Governor Ueda’s comments which reiterated that rates would keep rising if its outlook were realised. Otherwise in Asia, several equity indices are down this morning, including the Nikkei (-0.82%), the Hang Seng (-0.48%), the Shanghai Comp (-0.46%) and the CSI 300 (-0.07%). However, in South Korea, the KOSPI (+1.38%) has continued to outperform, on track for another record high this morning. Looking forward, US equity futures are basically steady, with those on the S&P 500 up +0.01%.
Earlier in Europe, markets had put in a relatively stronger performance, with both the STOXX 600 (+0.18%) and the FTSE 100 (+0.46%) moving up to new records. However, the DAX (-0.53%) was a relative underperformer, ending a run of 11 consecutive daily gains. Meanwhile for bonds, there was also a rally across the continent, with yields on 10yr bunds (-3.3bps), OATs (-3.1bps) and BTPs (-2.9bps) all moving lower. UK gilts were a particular outperformer, with the 10yr yield (-5.8bps) falling to its lowest since December 2024, at 4.34%.
Finally yesterday, we also had a few US data releases that were delayed by the government shutdown. First, the November retail sales were a bit stronger than expected at +0.6% (vs. +0.5% expected). Then for PPI inflation, the headline measure was running at +0.2% as expected in November, with the year-on-year measure at +3.0%. And existing home sales came in at an annualised rate of 4.35m in December (vs. 4.22m expected), which was their fastest pace since early 2023. Otherwise, the Atlanta Fed’s latest GDPNow update is now estimating Q4 GDP growth at an annualised pace of +5.3%, up from +5.1% before.
Looking at the day ahead, data releases include the UK GDP and Euro Area industrial production for November. Then in the US, we’ll get the weekly initial jobless claims, the Empire State manufacturing survey for January, and the Philadelphia Fed’s business outlook for January. From central banks, the ECB will publish their Economic Bulletin, we’ll hear from ECB Vice President de Guindos, the ECB’s Panetta, and the Fed’s Bostic, Barr, Barkin and Schmid. Finally, earnings releases include Goldman Sachs, Morgan Stanley, and BlackRock.
1b European opening report
TSMC earnings lifts sentiment for Europe and US; ahead are a slew of Fed speakers and weekly claims – Newsquawk US Opening News
Thursday, Jan 15, 2026 – 05:42 AM
- European bourses are broadly firmer, with US equity futures also in the green; NQ outperforms after strong earnings from TSMC (+5.7% pre-market).
- China is said to be drafting purchase rules for NVIDIA’s (NVDA) H200 chips, Nikkei reported, as it seeks to balance support for domestic chip development with the needs of Chinese technology firms.
- DXY is flat; USD/JPY briefly slipped on reports that the BoJ is to keep rates steady in January.
- USTs are steady awaiting data & Fed speak, Gilts opened lower after a GDP beat.
- Crude remains near Wednesday’s lows after Trump said Iran has “no plan” to kill protestors, XAU also moves lower.
- Looking ahead, highlights include US Export/Import Prices (Dec; Nov-cancelled), NY Fed (Jan), Weekly Claims (w/e 3rd Jan). Speakers include, Fed’s Bostic, Barr, Barkin, Schmid. Earnings from Morgan Stanley, Goldman Sachs, BlackRock.
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EUROPEAN TRADE
EQUITIES
- European equities (STOXX 600 +0.4%) opened mixed to higher. AEX (+1%) outperforms, lifted by strong gains in ASML (+5.5%) following robust TSMC earnings & guidance, which showed a 35% jump in Q4 profit.
- European sectors are mixed. Tech (+1.7%) leads, driven by strength in ASML (+5.5%), while Financial Services (+1.2%) are boosted by post-earning strength in Partners (+6.2%). Consumer Products initially boosted by gains in Richemont (-2.2%), but the Co. has since slipped into negative territory. Q3 earnings were strong, but Richemont did highlight that rising material costs continuing to weigh on margins.
- US equity futures (ES +0.2% NQ +0.7% RTY +0.2%) are trading firmer across the board, with outperformance in the tech-heavy NQ, following the post-earnings strength in TSMC (+5.5% pre-market).
- Click for the sessions European pre-market equity newsflow
- Click for the additional news
EARNINGS
- TSMC (2330 TT) Q4 2025 (TWD): Net Profit 505.7bln (exp. 467bln), Revenue 1.046tln (exp. 868.46bln), CapEx USD 40.9bln (exp. USD 40-42bln). Q4 gross margin 62.3% (exp. 60.6%), +3.3ppts Y/Y. Q4 revenue from high performance computing +4% Q/Q. Q4 revenue from smartphones +11% Q/Q. Q4 revenue from IoT +14% Q/Q.
- TSMC (2330 TT) guides Q1 Revenue between USD 34.6-35.8bln (exp. 33.2bln), guides Gross Margin between 63-65% (exp. 59.6%), sees Operating Margin between 54-56% (exp. 50%), 2026 CapEx to come in between 52-56bln (prev. 40.9bln in 2025). Capex is to be higher in the next three years. Cost of tools are becoming more expensive. Long term gross margins of 56% and higher is achievable. In 2026 there are uncertainties from tariffs. Will be prudent in business planning. Robust AI-related demand. Increasing AI model adoption. 2026 sales to grow by close to 30% in USD terms. Preparing to increase capacity to support customers. Customers are providing strong signals and reaching out directly to request capacity. Firms have been showing TSMC that AI is a significant help to their businesses. Announces plans to expand its fabrication facilities in Arizona. Co. is worried about electricity in Taiwan. Co. informed that Silicon from TSMC is a bottleneck with the Co. aiming to deal with the bottle neck first and foremost. Reduced their 6 and 8 inch wafer capacity to optimise resources.
- Richemont (CFR SW) Q3 2025 (EUR): Sales at constant FX +11% (exp. 7.5%); Revenue 6.4bln (exp. 6.25bln).
FX
- DXY is flat and trades within a very thin 99.08-23 range; currently just above its 50 DMA at 99.02. Focus overnight has been on geopols, whereby President Trump said Iran has “no plan” to execute protestors. Back in the US, Trump said he has no plans to remove Fed Chair Powell, whilst also speaking highly of the prospective new Fed Chairs Hassett and Warsh.
- GBP currently trades flat, within a 1.3423-1.3446 range; the peak for today is a handful of pips short of its 21 DMA at 1.3452. Some strength was seen in Cable following the region’s GDP series, which topped expectations and has Q4 GDP on track to surpass the BoE’s forecast of no growth. Pantheon Macroeconomics said it expects UK growth to improve to 0.4% Q/Q in Q1 as Budget uncertainty fades, seasonality lifts the New Year, and September’s cyber-attack volatility limits spare capacity, keeping the MPC cautious.
- JPY is flat this morning, but subject to volatility, after Bloomberg reported that the BoJ is likely to keep rates steady in January; some officials are said to be concerned over the economic impact of a weak JPY. The piece added that if the JPY continues to weaken, then the pace of future rate hikes could be accelerated. But, policy will remain on hold in January. This spurred immediate pressure in USD/JPY, falling from 158.68 to 158.33.
- China’s FX regulator will formulate a basket of policy measures to promote cross-border financing.
FIXED INCOME
- A contained start for fixed benchmarks. Haven allure that was helping on Wednesday has been removed by the updates around Iran (see Commodities for details).
- That aside, newsflow has been a little light and largely focused on nation-specifics rather than broader macro drivers; though, TSMC earnings are the exception, again, see the feed for details.
- USTs have spent the morning in a narrow 112-11 to 112-17+ band, Bunds in equally slim 128.23 to 128.46 confines with both benchmarks flat overall. However, a modest bullish bias is beginning to emerge, more so for EGBs than USTs, potentially as the morning’s supply from Spain has now passed and was well received, digestion of the Ukraine-Russia-US situation and/or the pulling back of crude benchmarks weighing on yields. Though, the latter narrative is clouded by the gains in European gas.
- Gilts opened marginally softer and then slipped a few ticks further to a 92.67 base despite the firmer lead from EGBs. UK debt weighed on by strong GDP data for November, a series that has the Q4 trend tracking above the BoE’s estimate of no growth for the period. However, this pressure proved shortlived with Gilts grinding higher and the marginal outperformer, posting upside of just over 10 ticks.
- Spain sold EUR 5.86bln vs exp. EUR 5-6bln 2.35% 2029 Bono & 3.50% 2041, 1.45% 2071 Bonds.
COMMODITIES
- Crude benchmarks are on the back foot and remain near lows of USD 58.99/bbl and USD 63.46/bbl for WTI and Brent after some of the pressure was let out of the US-Iran situation. A move driven in late US hours by President Trump saying he had been told that the killing within Iran was stopping. However, we then saw some reports of explosions in Tehran, an update that sparked a short-lived spike of c. USD 0.50/bbl, before paring amid some uncertainty around the validity of that report.
- As discussed earlier in the week, gas benchmarks remain bid with gains of nearly a EUR/Mwh at a EUR 33/MWh peak for Dutch TTF. Drivers for the space include any potential impact to Iranian flows to Turkey, the above Ukraine situation escalating and the continued cold spell in Europe.
- Precious metals are broadly in the red this morning, following on from the subdued action seen overnight. Negative action this morning due to some unwinding of recent geopolitical risk premia after US President Trump said that he had been told the killing in Iran is stopping and that there is no plan for executions. As a reminder, the President had repeatedly threatened action against the Iranian regime, if they killed protestors. As it stands spot gold trades at the lower end of a USD 4,580.98-4,632.45/oz range.
- Base metals are also following precious peers lower; 3M LME Copper trades just above the USD 13k/t mark, in a USD 12,914-13,216.35/t range – downside which also follows the negative sentiment seen across the Chinese equities space.
- US Ambassador announces plan to work with Belgium on a USD 50bln LNG deal.
- The US is said to be considering private contractors to safeguard oil in Venezuela, CNN reported citing sources.
- US President Trump said it would be better for Venezuela to remain in OPEC but is unsure if this would be beneficial to the US.
TRADE/TARIFFS
- Japanese Finance Minister aims to make progress in selecting projects as part of Japan and US bound investment package if PM Takaichi meets with US President Trump. Fiscal reform is impossible with economic growth. said next years financial budgets reliance on debt is at a sustainable pace.
- Canada and China sign a trade cooperation MOU. Both sides committed to resolving outstanding agricultural trade issues by maintaining open channels of communication.
- Indian Trade Secretary on the India-EU trade deal negotiation said some agricultural items remain off the table.
- Indian Trade Secretary said a deal with the EU is very close but there’s still room for further negotiations to solve various issues.
- China’s Foreign Minister said they are ready to strengthen cooperation and trust with Canada.
- China is said to be drafting purchase rules for NVIDIA’s (NVDA) H200 chips, Nikkei reported, as an attempt to balance its desire to foster domestic chip development with Chinese tech firms.
- Taiwan’s government said Taiwan and the US have previously held multiple discussions and reached consensus on preferential tariff treatment for semiconductors and related products under Section 232. Taiwan’s government said Taiwan will subsequently schedule a separate meeting with the Office of the U.S. Trade Representative to sign the Taiwan–US trade agreement documents.
- The White House said President Trump imposed a 25% tariff on certain advanced computing chips, such as NVIDIA (NVDA) H200 and AMD (AMD) MI325X chips. Depending on the outcome of negotiations, President Trump may consider alternative remedies in the future, including minimum import prices for specific types of critical minerals. The Secretary and the trade representative should consider price floors for trade in critical minerals and other trade-restricting measures. The US chip tariff will not apply to chips imported for US technology supply.
- The White House said that in the near future, US President Trump may impose broader tariffs on semiconductor imports and their derivative products.
- US President Trump ordered the Commerce Dept. and USTR to negotiate agreements with foreign suppliers to reduce US reliance on imported processed critical minerals, citing national security risks. Negotiators have 180 days to secure binding or enforceable agreements.
NOTABLE EUROPEAN HEADLINES
- BoE Credit Conditions Survey: Demand for secured lending for remortgaging was unchanged in Q4, and was expected to increase in Q1. Within the overall figure, demand for credit card lending increased in Q4, and was expected to be unchanged in Q1. Demand for corporate lending in Q1 was expected to be unchanged for small, medium-sized, and large businesses.
- ECB’s de Guindos said “it is very important for all of us that the principle of central bank independence is also applied to the Federal Reserve.”.
NOTABLE EUROPEAN DATA RECAP
- UK GDP MoM (Nov) M/M 0.3% vs. Exp. 0.1% (Prev. -0.1%).
- UK GDP 3-Month Avg (Nov) 0.1% vs. Exp. -0.2% (Prev. 0.0%, Rev. -0.1%).
- UK GDP YoY (Nov) Y/Y 1.4% vs. Exp. 1.1% (Prev. 1.1%).
- UK Industrial Production YoY (Nov) Y/Y 2.3% vs. Exp. -0.4% (Prev. 0.4%, Rev. -0.8%).
- UK GDP 3-Month Avg (Nov) 0.1% vs. Exp. -0.2% (Prev. 0.0%, Rev. -0.1%).
- UK Balance of Trade (Nov) -6.116B vs. Exp. -3.5B (Prev. -6.531B, Rev. -4.824B).
- UK Goods Trade Balance (Nov) -23.71B vs. Exp. -20.4B (Prev. -24.17B, Rev. -22.54B).
- UK Goods Trade Balance Non-EU (Nov) -11.46B vs. Exp. -9.1B (Prev. -11.81B, Rev. -10.26B).
- UK Industrial Production MoM (Nov) M/M 1.1% vs. Exp. 0.1% (Prev. 1.3%, Rev. 1.1%).
- UK Manufacturing Production MoM (Nov) M/M 2.1% vs. Exp. 0.5% (Prev. 0.4%, Rev. 0.5%).
- UK Manufacturing Production YoY (Nov) Y/Y 2.1% vs. Exp. -0.3% (Prev. -0.2%, Rev. -0.8%).
- UK Construction Output YoY (Nov) Y/Y -1.1% vs. Exp. 0.1% (Prev. 0.9%).
- UK RICS House Price Balance (Dec) -14% vs. Exp. -16% (Prev. -14% , Rev. -16% ).
- Italian Industrial Production MoM (Nov) M/M 1.5% vs. Exp. 0.5% (Prev. -1.0%, Rev. -1%).
- Italian Industrial Production YoY (Nov) Y/Y 1.4% vs. Exp. -0.6% (Prev. -0.2%, Rev. -0.3%).
- German Full Year GDP Growth (2025) 0.20% vs. Exp. 0.2% (Prev. -0.50%, Rev. -0.2%); Q4 0.2% Q/Q.
- German Wholesale Prices YoY (Dec) Y/Y 1.2% vs. Exp. 1.6% (Prev. 1.5%).
- German Wholesale Prices MoM (Dec) M/M -0.2% vs. Exp. 0.2% (Prev. 0.3%).
CENTRAL BANKS
- US President Trump said no plans to remove Fed Chair Powell.
- US President Trump rejects criticism from Senate Republicans of the Justice Department probe of Fed chair Jerome Powell and said “they should be loyal.”; speaks highly of Kevin Hassett and Kevin Warsh.
- BoJ is reportedly likely to keep rates steady in January; some officials are said to be concerned over the economic impact of a weak JPY, Bloomberg reported. If the JPY continues to weaken, then the pace of future rate hikes could be accelerated. But, policy will remain on hold in January. Possible that the negative aspects such as a further JPY depreciation and the impact on personal consumption, will become a point of concern.
- BoJ Governor Ueda said mechanism under which wages and prices rise moderately in tandem likely to be sustained. BoJ is expected to keep raising interest rates if targets are met.
- ECB’s Kazaks said policy rates are optimally positioned as inflation trends improve. Warns that inflation and growth risks are balanced and emphasises the need for vigilance.
- PBoC cuts the one-year relending facility rate to 1.25% (prev. 1.50%), to increase tech innovation quotas by CNY 400bln to CNY 1.2tln. Central Bank to boost relending quotas to power tech innovation. Pledges continued liquidity support via open market tools. Overnight rates will be guided to hover near policy rates. Will maintain ample liquidity to support bond issuance. Will flexibly conduct government bond operation going forward. Lowers minimum down payment for commercial property loans to 30% to boost market inventory clearance. No intention to use currency depreciation for trade advantage. Will guide expectation and prevent overshooting in CNY risk.
- China’s PBoC Deputy Governor announces plans to release a series of monetary and financial measures.
- Bank of Korea keeps Base Rate unchanged at 2.50%, as expected. Removes “potential rate cut” reference from the statement.
- BoK Governor Rhee said the Government is to make an announcement on the US trade deal and the FX market later in the day.
- BoK Governor Rhee said rate decision was unanimous, need to remain cautious on FX volatility. 5 members see a ‘high chance’ of a hold in the next 3 months, 1 sees a cut in the near-term. Addressing FX volatility requires immediate steps as well as structural reforms. A weak KRW is not likely to trigger any financial crisis and have ample amounts of USDs.
NOTABLE US HEADLINES
- BofA card spending, week to January 10th: +4.6% Y/Y (prev. 1.7%). Strong growth across most categories, partially due to favourable base effects.
- US President Trump said the party that controls the White House often loses seats in midterm elections.
GEOPOLITICS
RUSSIA-UKRAINE
- US President Trump said Ukrainian President Zelensky is to blame for the current stalemate in Russia–Ukraine negotiations, adding that Russian President Putin is “ready to make a deal.”.
MIDDLE EAST
- “Flight restrictions in Iran lift, without explanation,” AP reported.
- UN Security Council plans to meet with Iran at 15:00 EST / 20:00 GMT on Thursday, AFP reported.
- Iran has extended its airspace closure NOTAM until 03:30 UTC (~2 hours from now).
- US President Trump said Iran’s government could fall due to unrest but “any regime can fail”.
- US President Trump has told his National Security team that any US military action in Iran to be swift and decisive, NBC News reported citing sources; adds that a sustained war is undesirable. Trump’s advisors have so far not been able to guarantee a quick collapse of Iran’s regime.
- NOTAM over Iran has expired, according to reported.
- Iran’s Foreign Minister Araghchi said there have been many threats by US President Trump and others but we are in control, hopes tensions do not reach a high level; no plans to carry out executions against protestors. Not ready to give up our legitimate right to the peaceful use of nuclear technology.
- Iran issues NOTAM to close all airspace, according to reported; “NOTAM is valid for a little more than 2 hours”; closes airspace to all flights except international flights to Iran with prior permission.
- “All the signals are that a US attack [against Iran] is imminent, but that is also how this administration behaves to keep everyone on their toes. Unpredictability is part of the strategy,” Reuters reported, citing a Western military official.
- The X account which flagged the initial explosions in Tehran said they have deleted the post “as the source appears to be a bit flimsy, though reporting on any potential action is going to be difficult due to the ongoing internet blackout across Iran”.
- US President Trump has made it clear to the National Security team his goals for any US military action in Iran, NBC news reported.
- Maersk (MAERSKB DC) MECL service returns to trans-Suez route; following improved stability in the Red Sea, enabling more efficient transit times while maintaining safety as the top priority.
OTHERS
- Colombia President Petro is to meet with US President Trump on February 3rd.
- US President Trump posted “had a very good call with the Interim President of Venezuela, Delcy Rodríguez. We are making tremendous progress, as we help Venezuela stabilize and recover.”. “Many topics were discussed, including Oil, Minerals, Trade and, of course, National Security.”.
- The US Senate votes 51-50 in favour to allow US President Trump to act on Venezuela military action without Congressional approval; VP Vance casting the deciding vote.
- Chinese officials have reached out to counterparts in Venezuela and the US to seek assurances regarding their loans to Venezuela, Bloomberg reported citing people familiar with the matter.
CRYPTO
- Bitcoin is a little firmer this morning and trades above USD 97k.
APAC TRADE
- APAC stocks traded mostly in the green, outperforming their US counterparts, though the Nikkei lagged the region.
- ASX 200 continued its trend higher as mining and materials names advanced, supported by fresh ATHs in metals and news that Rio Tinto and BHP are collaborating on iron ore extraction in the Pilbara.
- Nikkei 225 underperformed, slipping back below 54,000 as reports that opposition parties CDP and Komeito have begun talks to form a new party weighed on sentiment.
- KOSPI traded comfortably in the green, extending to new ATHs and nearing 4,750, whilst the BoK kept rates steady as expected in a unanimous decision.
- Hang Seng and Shanghai Comp saw mixed trade, with the Hang Seng hovering just below ATHs near 27,380 while the Shanghai Composite oscillated around the unchanged mark as Chinese markets struggled for traction.
NOTABLE ASIA-PAC HEADLINES
- Earthquake of magnitude 5.5 in the Hokkaido region in Japan, EMSC reported.
NOTABLE APAC DATA RECAP
- Chinese M2 Money Supply YoY (Dec) Y/Y 8.5% vs. Exp. 8% (Prev. 8%).
- Chinese New Yuan Loans (Dec) 910B vs. Exp. 800B (Prev. 390B).
- Chinese Outstanding Loan Growth YoY (Dec) Y/Y 8.3% vs. Exp. 6.3% (Prev. 6.4%).
- Chinese Total Social Financing (Dec) 2210B vs. Exp. 2000B (Prev. 2490B).
- Australian Consumer Inflation Expectations (Jan) 4.6% vs. Exp. 4.5% (Prev. 4.7%).
- Japanese PPI YoY (Dec) Y/Y 2.4% vs. Exp. 2.4% (Prev. 2.7%).
- Japanese PPI MoM (Dec) M/M 0.1% vs. Exp. 0.1% (Prev. 0.3%).
2800
ic) Asian opening report
2b. JAPAN
3. CHINA/
China Blames Trump For Its Staggering $1.2 Trillion Trade Surplus Amid European Howls Of Outrage
Wednesday, Jan 14, 2026 – 10:00 PM
At the start of December, China stunned the world when it reported that its trade surplus had surpassed a record $1 trillion, with one month still left to go in calendar 2025.
Fast forward to last night when China reported that in December, its trade balance rose from $112 billion in November to a whopping – and the second highest on record – $114.14 billion, matching Bloomberg estimates…
… exports grew 6.6% YoY in dollar terms, more than double the average forecast from a Bloomberg poll of analysts of 3.1% and greater than November’s growth rate of 5.9%, while imports rose 5.7% in dollars last month on a year earlier, also far outpacing analyst expectations of 0.9% growth and the previous month’s figure of 1.9%.
Adding across, China’s full-year trade surplus exceeded $1 trillion for the first time – $1.2 trillion to be precise – blowing away last year’s figure of $993bn despite exports to the US falling 20%, as those to the EU rose 8.4% and to south-east Asia rose 13.4%, where as we show below the bulk of transshipments to the US take place, as Chinese producers diverted shipments to other markets while ultimately still targeting US consumers.
And since China’s record $1 trillion trade surplus hit a month earlier had already outraged its trading partners, who finally called out Beijing (long after Trump did so first) for its mercantilist, imbalanced trade policies, Beijing needed a scapegoat for the even bigger number it reported. It decided to blame the US, the one country that until recently had reportedly “alienated the world” in its pursuit of more balanced Chinese trade.
As the FT reported, “China blamed the US for growing global trade imbalances as the world’s second-biggest economy reported a record full-year trade surplus of $1.2tn for 2025 despite President Donald Trump’s trade war.”
Why? Because as we first reported last month, China’s gargantuan surplus will further inflame global trading tensions, particularly with the EU where China is indiscriminately dumping cars below cost and singlehandedly putting the entire German auto industry into an early grave; it’s not just Europe – all export-focused developing countries are also seething, as they find their exports are simply not competitive with cheap Chinese goods which are being dumped at a furious pace around the globe.
In a sign of the growing decoupling of direct trade between China and the US, the American share of Chinese exports last year was 11.1% , down from 14.7% in 2024, some of the lowest levels since the 1990s, the FT reports. Of course, that is woefully inaccurate at worse, and at best incomplete, since China has merely redirected its US goods via intermediary countries – i.e., transshipments – such as Vietnam, which has seen imports from China soar to a record high.
And since Vietnam didn’t grow an affluent middle class overnight, all that is happening is China is sending its trinkets to Hanoi first, before they are reshipped onward to China, under the guise of Vietnamese exports.
But, as last month, the loudest complaints about China’s surplus are expected from the EU (which said nothing when Trump was complaining loudly over the past decade and now is stuck with a crippled economy which has lost all export vibrancy for ever), yet which is terrified of its own shadow, and still has to follow the US and implement broad-based tariffs. Instead, the bloc has called for Beijing to stimulate domestic demand and reduce its own barriers to manufactured imports, something Beijing – already stuffed to its gills in debt – has shown precisely zero interest in doing, or being able to create organically.
And so, China decided to… blame Trump.
Wang Jun, vice-minister of the General Administration of Customs of China, said on Wednesday that trading partners’ export controls on high-tech products were preventing China from importing more, in not so thinly veiled comments directed at the US. Successive US administrations have imposed stringent curbs on China’s access to high-end semiconductors.
“It should be pointed out that some countries politicize economic and trade issues, using various pretexts to restrict exports of high-tech products to China; otherwise, we would import more,” said Wang, adding: “There is vast room for import growth.”
Actually no, there isn’t, because as the upcoming Chinese data dump will reveal, China’s domestic economy continues to deteriorate with retail sales and fixed investment at a level that signals flat GDP at best, if not negative.
Which only leaves a flood of exports to keep China’s economy alive. Sure enough, economists have warned that China’s economy is too reliant on manufacturing and exports for growth amid anaemic domestic consumption and a years-long property sector slowdown.
“China’s staggering trade surplus is simultaneously a symbol of its exporting prowess and the weaknesses in its growth model,” said Eswar Prasad, professor of economics at Cornell University.
One more point: China’s staggering trade surplus is a remnant of an era in which nobody dared point out that the neoliberal, mercantilist emperor is dead, until Trump came along. And while Europe laughed at him at first (just like they laughed when he told Germany they are entirely reliant on Russian gas), Brussels has finally figured out that it can do nothing and watch its economy implode from inside while purchasing cheap Chinese trinkets, or it can join the US president in calling out China’s trade practice. At which point China’s record trade surplus will collapse, with various unpleasant consequences for its economy. As for the US, it is on the right path, but it too needs to plug the gaping loopholes such as record trans-shipments through Vietnam and other Pacific rim countries. Once it does that, only then will Beijing be forced to finally revise its export-led model which is the main reason why the world finds itself in a brutal trade war for the second year running.
end
TAIWAN/CHINA/USA
$500 Billion… US-Taiwan Agree Huge Chip Trade Deal
Thursday, Jan 15, 2026 – 02:20 PM
Confirming what we previewed on Tuesday, the US and Taiwan agreed to a long-sought trade agreement that would lower tariffs on goods from the self-governed island to 15% and see Taiwanese semiconductor companies increase financing for American operations by $500 billion.
While the details are a little murky, duties on Taiwanese shipments would fall from the previous 20% rate – putting them on par with Japan and South Korea, which reached their own agreements last year.
And, as Bloomberg reports, Taiwan’s technology industry would also commit to making at least $250 billion in direct investments to expand advanced semiconductor, energy and artificial intelligence operations in the US.
In addition, Taiwan agreed to provide an additional $250 billion in credit guarantees for further investment in the American semiconductor supply chain.
A White House statement outlining the deal did not specifically mention Taiwan Semiconductor Manufacturing, but the arrangement has clear implications for the company, which is the world’s top producer of AI chips.
Bloomberg reported earlier this week that the accord would call for TSMC to build at least four more chip manufacturing plants in Arizona, adding to the six factories and two advanced packaging facilities it has already promised to open there.
The agreement was announced shortly after a delegation of top Taiwanese officials visited Washington to finalize the deal with President Trump’s representatives.
Taiwanese President Lai Ching-te had indicated he supported Trump’s goal of reindustrializing the US but said American land, electricity and workforce policy reforms were needed so projects could move ahead.
END
4 EUROPEAN/NATO AFFAIRS/SCANDINAVIA
HOLLAND/UK
UK BANS Dutch Commentator For Criticizing Starmer While Welcoming Illegal Migrant Hordes
Thursday, Jan 15, 2026 – 03:30 AM
Authored by Steve Watson via modernity.news,
Under Keir Starmer’s Labour government, the UK has become a dystopian nightmare where criticizing the Prime Minister gets you banned from entry. Meanwhile, boatloads of illegal migrants wash across the Channel daily, rewarded with hotel stays and taxpayer-funded perks.
Dutch commentator Eva Vlaardingerbroek learned this the hard way when her travel authorization was revoked just days after calling out Starmer’s hypocrisy on immigration and free speech.
This blatant act of political censorship highlights Labour’s twisted priorities: protect the establishment narrative at all costs, even as unchecked migration erodes British sovereignty and burdens citizens.
Vlaardingerbroek, a 29-year-old Dutch lawyer, political commentator, and activist, has built a reputation for her outspoken criticism of mass immigration, globalism, and threats to Western culture. Formerly affiliated with the Netherlands’ Forum for Democracy party, she advocates for “remigration” policies to preserve national identity and has amassed a large following on social media for her unfiltered takes on Europe’s migration crisis. As such, her views have made her a target for leftist regimes eager to silence dissent.
The UK government informed Eva “Your presence in the UK is not considered to be conducive to the public good.”
The post she referenced slammed Starmer directly: “Keir Starmer wants to crack down on X under the pretense of “women’s safety”, whilst he’s the one allowing the ongoing rape and killing of British girls by migrant rape gangs. Evil, despicable man.”
Meanwhile Starmer recently announced that one of his top priorities was getting an anti-white Egyptian extremist to the UK and was “delighted” to “welcome”‘” him:
Despite el-Fattah’s vile history – including posts like “fucking hate white people … a blight on the earth they are” and calls for “random shooting of white males” – Starmer celebrated his return to the UK.
As we higlighted, el-Fattah has praised Osama bin Laden, denied the Holocaust, and urged violence against police and Zionists. Yet Labour bent over backward to import this hate-monger, exposing their contempt for British values.
END
GERMANY
Jim Bovard: Germany’s Latest War On Freedom
Thursday, Jan 15, 2026 – 02:00 AM
“There is no censorship here in Germany,” according to Steffen Meyer, a top spokesman for the German government. In reality, Germans have freedom of speech except for ideas that politicians and government contractors and nonprofit activists don’t like. Germany is providing a road map for freedom can be squashed throughout the western world.
Germany was the scene of some of the twentieth century’s worst tyranny but today’s German leaders have only noble intentions for oppression. Berlin’s Best and Brightest™ “improved” democracy by turning politicians into a privileged caste. After a conservative editor mocked a top German law enforcement official by posting a meme showing her holding a sign, “I hate freedom of opinion,” he was convicted and sentenced to a seven months in jail for “abuse, slander or defamation against persons in political life.” The editor is on probation while the sentence is suspended but many other Germans have been locked up for similar offenses. The U.S. State Department Human Rights Report stated that German police “routinely raided homes, confiscated electronic devices, interrogated suspects and prosecuted individuals for the exercise of freedom of speech, including online.” German Chancellor Friedrich Merz personally filed almost 5,000 complaints against his online critics, sometimes resulting in police raids against people he accused.
The German media are gung-ho for government censorship of average Germans. The New York Times noted, “Authorities in Lower Saxony raid homes up to multiple times per month, sometimes with a local television crew in tow.” The Times reported that in 2022, “Christian Endt, a journalist in Berlin whose coverage of Covid drew a steady stream of insults online, reached a breaking point. After an anonymous Twitter user had called him ‘stupid’ and mentally ill, he embarked on a mission to see if he could get the person prosecuted.” The Twitter account didn’t have a real name but Endt used an image search of his picture and tracked it down to a small-business owner. Local prosecutors fined that guy more than a thousand dollars. Endt told The New York Times, “I was not even sure if what this guy wrote was a crime or not. In the end, I’m happy they did something about it and this person got a signal that there are some limits on free speech.” But is there no limit to the cowardliness of some German journalists? Publicly admitting that you ran crying to the authorities after some dweeb called you stupid and crazy makes a journalist unfit for writing about anything that offends anyone.
Journalist J.D. Tuccille, writing in Reason, notes:
“Last November, a Bavarian man was investigated for referring online to then-Deputy Chancellor Robert Habeck with a pun that roughly translates as ‘idiot.’ Police raided the home of a Hamburg man for calling a local politician a ‘pimmel’ (dick). Berlin banned the pro-Palestinian and anti-Israel slogan ‘from the river to the sea, Palestine will be free.’ And Irish protesters in Germany were forbidden to speak in Gaelic because police wouldn’t be able to tell if they were saying verboten things.”
Going back almost a decade, Germany was the most aggressive online censor among advanced nations. I noted in USA Today in 2017:
“In June, German police raided dozens of homes across the nation suspected of offensive social media postings and “conducted home searches and interrogations,” according to The New York Times. Facebook is deleting 15,000 posts a month in Germany but the government is threatening a $50-million-plus fine unless Facebook suppresses far more comments. Judith Bergman of the Gatestone Institute commented on the German mandate: ‘When employees of social media companies are appointed as the state’s private thought police…free speech becomes nothing more than a fairy tale. Or is that perhaps the point?’”
Writing in The Hill, I warned in late 2017 that American politicians sought the “Germanification of Facebook here,” with pervasive censorship on political command. That vision was fulfilled during the Covid pandemic. Facebook founder Mark Zuckerberg later publicly complained that the Joe Biden administration had forced his company to suppress even true information during the pandemic.
The plight of freedom in Germany continues to worsen. The Future of Free Speech, a think tank at Vanderbilt University, did a massive study examining the nature of deleted comments in Germany, France, and Sweden in 2023. That study found that 99.7% of the deleted comments by Germans on Facebook and 98.9% of the deleted comments on YouTube were actually legally permissible. The social media companies, intimidated by the German Network Enforcement Act, were far more censorious than the law demanded. The Vanderbilt study found that most censored comments were simply “’general expressions of opinion’…that did not contain linguistic attacks, hate speech or illegal content, such as expressing the support for a controversial candidate in the abstract.”
Germany is destroying free speech in part to forcibly suppress anger over brutal crimes committed by immigrants. Greg Lukianoff, the president of the Foundation for Individual Rights and Expression, recently noted in The Washington Post:
“A woman, furious at the gang rape of a 15-year-old girl in a Hamburg park, called one of the perpetrators a ‘disgraceful rapist pig’ in a WhatsApp message. She was prosecuted for insult and defamation, and ordered to spend the weekend in jail—while the rapist, because of youth sentencing rules, served no time.”
Censorship defines down self-government to “one person, one vote, one time.” Whoever wins a national election will exploit the censorship regime to perpetuate their own power. German politicians are conniving to outlaw the second largest political party, the Alliance for Deutschland (AfD) and its ideas because elitists disapprove of its positions. But it is not the AfD’s fault that Germans’ trust in politicians and government has plunged in recent years.
German government funding for censorship increased five-fold since 2020. Andrew Lowenthal, the founder and CEO of Liber-net, commented, “In Germany large swathes of civil society have abandoned their traditional role as watch-dogs of power. Instead, they have joined forces with the State to suppress popular discontent.” There are 330 different organizations now part of the German censorship machine. (See the excellent graphic produced by Liber-net.) As journalist Mario Nawfal wrote, “When your “fact-checkers” are on government payroll, they’re not checking facts—they’re enforcing narratives. The objectivity claim is window dressing. The real damage? Public trust is collapsing faster than the censorship can contain it.”
The Aspen Institute Germany, founded in Berlin in 1974, is massively subsidized by the German Foreign Office (the equivalent of the U.S. State Department) to proselytize for the destruction of free speech across Europe. In December, the institute published a report: Hybrid Realities: Disinformation, Influencers, and the Defense of Democracy in Central and Eastern Europe. Here’s the painfully portentous first paragraph of the Executive Summary:
“Democracy depends on the integrity and credibility of public discourse. It functions most effectively, when citizens can exchange ideas freely, engage in respectful disagreement, and make collective choices informed by reliable information. Transparent and inclusive dialogue fosters trust between individuals and institutions, which in turn underpins the legitimacy of democratic decision-making and helps ensure that differences of opinion do not lead to societal division. Sustaining this foundation requires an information environment that upholds transparency, enables verification, and encourages responsibility in maintaining fact-based public communication.”
That pious prattle sounds like “good government” gobbledy-gook but the reality is that those goals create endless penalty flags for government-subsidized referees to throw at private citizens and social media. As a New York Times article on German censorship explained in 2022, “The authorities in Germany argue that they are encouraging and defending free speech by providing a space where people can share opinions without fear of being attacked or abused.” So to have the space for free speech, government officials must have unlimited power to assure that nothing improper or insulting is said.
The new German report echoes the same themes and goals as a 2022 Aspen Institute report championing censorship for the United States. That report called for the Biden administration to “establish a comprehensive strategic approach to countering disinformation and the spread of misinformation, including a centralized national response strategy, defining roles and responsibilities across the Executive Branch.” It portrayed objectivity as an enemy of truth. Aspen Institute commissioners “discussed the need to adjust journalistic norms to avoid false equivalencies between lies and empirical fact in the pursuit of ‘both sides’ and ‘objectivity,’ particularly in areas of public health, civil rights, or election outcomes.” The report called for creation of a “Public Restoration Fund…with a mandate to develop systemic misinformation countermeasures through education, research, and investment in local institutions.”
The Aspen Institute also urged government officials to impose “Superspreader Accountability,” to “hold superspreaders of mis- and disinformation to account with clear, transparent, and consistently applied policies.” The Aspen Institute neglected to condemn President Joe Biden as the Supreme Superspreader for his false promise that the COVID vaccine would prevent COVID infections. “Disinformation” is often simply the lag time between the pronouncement and the debunking of government falsehoods.
The new censors in Germany and beyond want to protect government against alleged private falsehoods but offer no remedy for government lies that deceive the citizenry. Instead, Germany’s censorship champions promise to protect “the integrity and credibility of public discourse” based on the notion that government is morally and intellectually superior to private citizens. As German journalist Jasmin Kosubek observed, “Germany’s censorship machine creates digital ‘priests’ who claim the truth—and silence those who challenge them.” Today’s Germans are haunted by the intellectual ghost of a philosopher bootlicker from two hundred years ago. Georg Wilhelm Friedrich Hegel declared, “Men are as foolish as to forget, in their enthusiasm for liberty of conscience and political freedom, the truth which lies in power.” Hegel bluntly equated government and truth:
“For Truth is the Unity of the universal and subjective Will; and the Universal is to be found in the State, in its laws, its universal and rational arrangements.”
Hegel probably did more to propel modern totalitarianism than perhaps any other philosopher. German philosopher Ernst Cassirer, who fled the Third Reich, commented, “These words, written in 1801, contain the clearest and most ruthless program of fascism that has ever been propounded by any political or philosophy writer.”
Actually, maybe another Hegel doctrine explains why the ruling class continues to proclaim that Germans are free. Hegel asserted that “the State is that in which Freedom obtains objectivity, and lives in the enjoyment of this objectivity.” So, objectively, Germans have free speech because the government attaches so many muzzles and blindfolds to the citizenry.
And the government will always be there to protect the “freedom” of oversensitive journalists by harshly punishing anyone who calls them a dummkoff.
5. RUSSIA AND MIDDLE EASTERN AFFAIRS
tbn israel last 24 hrs…
ISRAEL VS HAMAS ET AL
Who is Ali Shaath, leader of Gaza’s new technocratic committee? – explainer
The committee is expected to meet for the first time on Thursday in Egypt, crossing the Rafah border, a Palestinian source told Agence France-Presse.
Palestinians walk along a street flooded by rainwater in the city of Khan Yunis, in the southern Gaza Strip, on January 13, 2026.(photo credit: ABED RAHIM KHATIB/FLASH90)ByDANIELLE GREYMAN-KENNARDJANUARY 15, 2026 14:41Updated: JANUARY 15, 2026 16:32
Gaza-born Ali Shaath will lead the new 15-member technocratic committee administering the Gaza Strip, it was announced on Wednesday, where he will focus on rebuilding infrastructure in the Palestinian territory.
The committee is expected to meet for the first time on Thursday in Egypt, crossing the Rafah border, a Palestinian source told Agence France-Presse.
Who is Ali Shaath?
Shaath, born in Khan Yunis in 1958, comes from a politically engaged family, whose many prominent members have ties to Fatah, according to the London-based Arabic newspaper Asharq Al-Awsat.
The former Palestinian Authority (PA) deputy minister has a background that includes serving in several roles in the administration of the West Bank, most notably as deputy minister of planning and international cooperation and as undersecretary at the Ministry of Transportation and Communications.
He also chaired the Palestinian Housing Council, headed the Palestinian Ports Authority, and worked as an advisor to the Palestinian Economic Council for Development and Reconstruction.
Having studied in both London and Cairo and earned a PhD in Infrastructure Planning and Urban Development from the UK’s Queen’s University, the civil engineer is widely regarded as a technical expert rather than a political figure.
Shaath has spoken openly about his support for a two-state solution, which would see both a Palestinian and Israeli state, an issue contentious in Palestinian and Israeli circles.
In 2011, while blaming West Bank violence exclusively on Israeli settlers, Shaath told Israel’s Army Radio, “I think our people are quite satisfied not to go back to violence and are going in this fight to continue their peaceful struggle for independence and for real peace and a two-state solution.”
In the same interview, he asserted that Jews wishing to access Palestinian citizenship could live in the West Bank and purchase land.
Technocratic committee confirms plans to rebuild the Gaza Strip
On Palestinian Basma Radio, Shaath announced on Wednesday his commitment to rebuilding the Gaza Strip and its infrastructure after Hamas forced the Palestinian territory into two years of war with Israel.
“We are not talking about ‘reconstruction’ but construction anew,” he said. “We will set plans for water, well rehabilitation, water purification, and treated water. Water is the secret to health, education, and hospitals, all of which were destroyed.”
“If I bring bulldozers and push the rubble into the sea, and make new islands, new land, I can win new land for Gaza and at the same time clear the rubble. This won’t take more than three years,” he told the West Bank radio station.
To begin, Shaath said his committee would take over administering the territory currently run by Israel, before slowly absorbing the land under Hamas control.
Speaking on the future role of the anti-Hamas militias, Shaath stated simply, “Security issues and coordination with armed factions are not among the committee’s tasks. The committee is not an army, but rather 15 Palestinian experts in reconstruction, supported by a staff, minds more than weapons.”
Who will be on the committee administering the Gaza Strip?
Other members tapped by Nickolay Mladenov, the former UN Middle East envoy who is expected to represent the Board of Peace on the ground, include private-sector and NGO representatives, according to a list of names obtained by Reuters.
A US official who briefed reporters on condition of anonymity said invitations were sent out on Wednesday to potential Board of Peace members personally selected by Trump.
Hamas and its rival Fatah group, led by Palestinian President Mahmoud Abbas, have both endorsed the list of technocratic committee members, Egyptian and Palestinian sources said.
It will also include the head of the Gaza Chamber of Commerce, Ayed Abu Ramadan, and Omar Shamali, who has worked for the Palestine Telecommunications Company (Paltel), Palestinian sources said.
The sources said the list would also include Sami Nasman, a retired senior Palestinian Authority security officer and a longtime critic of Hamas. Nasman, a member of Abbas’s Fatah movement, is originally from Gaza but has lived in the West Bank since 2007.
END
IRAN
Iran closes airspace as Western military official say signals show US attack ‘imminent’
“All the signals are that a US attack is imminent, but that is also how this administration behaves to keep everyone on their toes,” a Western military official said.
Iranian missiles are displayed at the Islamic Revolutionary Guard Corps(IRGC) Aerospace Force Museum in Tehran, Iran, November 12, 2025(photo credit: MAJID ASGARIPOUR/WANA (WEST ASIA NEWS AGENCY) VIA REUTERS)ByJERUSALEM POST STAFF, REUTERSJANUARY 15, 2026 00:30
Iran has issued a NOTAM (Notice to Airmen) late on Wednesday night, closing its airspace to all flights, as Western military officials say US military action in the country is “imminent.”
Flight tracker websites showed the airspace over Iran and Iraq emptying rapidly prior to the NOTAM’s issuing.
“All the signals are that a US attack is imminent, but that is also how this administration behaves to keep everyone on their toes. Unpredictability is part of the strategy,” a Western military official told Reuters later on Wednesday.
END
IRAN/USA
Oil, Precious Metals Tumble After Report Signaling No Imminent Action Against Iran
Wednesday, Jan 14, 2026 – 08:59 PM
With traders across the globe refreshing their X accounts every 3 seconds, expecting to see news of imminent “kinetic action” in Iran, what they got instead was a report from NBC which indicated that military action is far from certain, and at best could take days before it is launched.
According to the report which cites multiple anonymous sources – including a U.S. official, two people familiar with the discussions and a person close to the White House – Trump has told his national security team that “he would want any U.S. military action in Iran to deliver a swift and decisive blow to the regime and not spark a sustained war that dragged on for weeks or months.”
“If he does something, he wants it to be definitive,” one of the people familiar with the discussions said.
The punchline: Trump’s advisers have so far not been able to guarantee to him that the regime would quickly collapse after an American military strike, and there is concern that the U.S. may not have all the assets in the region it would need to guard against what administration officials expect would be an aggressive Iranian response.
Indeed, earlier today we showed that US aircraft carriers – so critical in supporting any type of operation against Iran – are days away from reaching the gulf, which means that any full-blown assault would likely have to be delayed.
It also means that as we suggested earlier, the current dynamics “could lead Trump to approve a more limited U.S. military offensive in Iran, at least initially, while reserving options to escalate — if he decides to take any military action at all,” said the U.S. official and one of the people familiar with the discussions.
They also said that it is a fast-evolving situation and that as of Wednesday afternoon no decisions had been made. During a visit to Detroit on Tuesday, Trump told protesting Iranians that “help is on its way” and called the situation in the country “fragile.”
Meanwhile, the question of what happens to the power vacuum in Iran has also reared its head, and in a separate report, Trump told Reuters on Wednesday that while Iranian opposition figure Reza Pahlavi “seems very nice”, he expressed uncertainty over whether Pahlavi would be able to muster support within Iran to eventually take over.
In other words the CIA does not have a ready plan for who will step in to fill the power vacuum once the current regime is forced out.
Trump has repeatedly threatened to intervene in support of protesters in Iran, where thousands of people have been reported killed in a crackdown on the unrest against clerical rule. But he was reluctant on Wednesday to lend his full support to Pahlavi, the son of the late shah of Iran, who was ousted from power in 1979.
“He seems very nice, but I don’t know how he’d play within his own country,” Trump said. “And we really aren’t up to that point yet.
“I don’t know whether or not his country would accept his leadership, and certainly if they would, that would be fine with me.”
Trump’s comments went further in questioning Pahlavi’s ability to lead Iran after saying last week that he had no plans to meet with him.
Trump also said it is possible the government in Tehran could fall due to the protests but that in truth “any regime can fail.”
“Whether or not it falls or not, it’s going to be an interesting period of time,” he said.
Trump’s comments to Reuters and the NBC report have effectively eliminated the probability of an imminent action, and as a result crude oil, which was rising again on geopolitical fears, tumbled with WTI set to dip below $60 after trading above it all day…
… while silver plunged as much as $6, from $92 to $86, in seconds as stop loss selling kicked in, in a preview of how painful the unwind of the current historic rally will eventually be.
END
IRAN/USA
Iran’s regime still looks likely to survive protests but has no answers for public anger
Massive unrest comes as regime is weak and vulnerable but doesn’t yet show signs of cracking; the main question now is how Trump enforces his red lines
By Lazar Berman Follow14 January 2026, 10:57 pm
Iran is once again on fire.
Protests have broken out in every one of Iran’s 31 provinces, and thousands of protesters have reportedly been killed and many more arrested.
This, of course, is not the first time that the Islamic Republic has faced mass protests. Since the Green Movement protests in 2009 that erupted after reformists accused then-president Mahmoud Ahmadinejad of stealing the elections, Iranians have come out to the streets regularly, often to be crushed with deadly force by state security forces, while the world does nothing to help.
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The “woman, life, freedom” protests in 2022 brought millions of furious Iranians out for months, but were squelched after hundreds were killed and over 20,000 arrested.
This time, both the regime and the protesters know that the protests are different.
“It’s denser, more widespread, larger numbers of the smaller groups of people, and it’s more diverse,” said Farzin Nadimi, senior fellow at The Washington Institute. “There are groups of young students, very young people, both men and women, young boys and girls, and older people, retirees. Still, there are not very many civil servants, which was expected.”
Though the protests started with merchants in Tehran’s bazaar over the collapse of the rial, they quickly took on clear anti-regime and even occasionally pro-monarchist tones.
The growing unrest comes at the Islamic Republic’s weakest moment since the 1979 revolution.
In the years since the Hamas invasion of Israel on October 7, 2023, Israel has hammered Tehran and its terror proxy network. Hamas is still very much in control of Gaza’s population but in no position to attack Israel anytime in the foreseeable future. Hezbollah was beaten into agreeing to a humiliating ceasefire that provides for its own disarmament. Syria’s Bashar al-Assad regime fell shortly afterward, depriving Iran of its major state ally in the Middle East.
Even worse for Tehran, Iran itself was hit hard by Israel and the US in June and proved unable to defend itself or deter its attackers.
“The regime has never appeared weaker,” said Michael Makovsky, CEO of the Jewish Institute for National Security of America. “Israel, and the US, humiliated the regime in the 12-day war. Imagine — Israel achieved air supremacy within 48 hours, meaning for 10 days [Israeli Air Force] planes flew over Tehran with impunity.”
Not only is Iran’s entire regional network — into which it has poured massive resources that could have gone to its own citizens — in shambles, but the regime has no conceivable avenue to address the protesters’ demands.
Though it has the world’s second-largest proven natural gas reserves, Iran can’t provide its people with heating in the winter or air conditioning in the summer. It has badly mismanaged its water resources, driving up food prices.
Facing US sanctions that are only getting tighter, inflation — the problem that sparked these protests — isn’t going to get better.
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“Unlike previous protests, the regime has no answer,” said Yossi Kuperwasser, director of the Jerusalem Institute for Strategy and Security. “This isn’t something that can be solved. There’s no solution to the currency’s collapse, no solution to shortages in basic necessities like water and electricity. There’s no answer to the failed governance — none at all.”
At the same time, the combination of those factors doesn’t equal an impending collapse of the regime. The political elite is showing cohesion and confidence. There have been no signs that security personnel are defecting or refusing orders.
“The regime feels threatened, but I don’t think anyone currently assesses that its situation is hopeless,” said Raz Zimmt, Iran expert at the Institute for National Security Studies.
Fateful days
The question now is where the protests, and possible Israeli or US involvement, go from here.
It is entirely possible that, as it has in the past, the Iranian regime will manage to crush the protests in a matter of weeks.
“It’s not impossible,” said Zimmt, “but it seems much harder this time, because many in the Iranian public have concluded they have nothing to lose.”
The Islamic Revolutionary Guard Corps (IRGC), whose mission is to protect the Islamic Revolution, could decide that the government is being too gentle and take matters into its own hands. That would mark a much harsher approach to the protests, and would likely mean that the IRGC would take Iran in an even more anti-Western and aggressive direction. As of now, there have not been signs of such moves by the IRGC.
There is also the possibility that senior figures in the regime decide that the 86-year-old Supreme Leader Ali Khamenei no longer has the ability to guide the country through the growing challenges it faces, and must be pushed aside and replaced.
And there remains the very real possibility of an attack by the US or Israel.
Trump has drawn his line in the sand. “I have let them know that if they start killing people, which they tend to do during their riots… we’re going to hit them very hard,” he said, and more recently warned of “very strong action” if Iran goes ahead with the threatened hanging of protesters.
Riding high on a wave of short and generally successful military operations following explicit threats, it is unlikely that Trump wants suddenly to be seen as another US president issuing red lines that he doesn’t back up with action.
A potential US attack could come in many forms.
A likely focus would be the regime’s suppression machine currently being used against protesters.
Targets could include the internal command networks the regime uses, and the Russian military jammers Iran is using to block Starlink internet connection.
The US or Israel could also carry out cyber and kinetic attacks on the extensive surveillance camera network Iran has deployed on the roads, businesses and public transportation, said Nadimi.
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Even without attacking, Trump could declare that toppling the Iranian regime is the official US policy, even if this won’t be done by American troops.
He can also move more naval assets to the Indian Ocean and the Persian Gulf, choking Iran’s ability to export oil to China.
“This would embolden the Iranian people, who would see it as a strong show of support for them against the regime,” said Makovsky. “It might convince some Iranian officials and those supporting and defending it to change sides.”
There is always the danger of an Iranian escalation, whether or not it is attacked. Tehran threatened on Sunday that it will retaliate against Israel as well as US military bases in the event of American strikes on Iran.
Israel should take the possibility of missile attacks from Iran seriously, but it doesn’t seem like the most desirable path for the Iranians. Their hands are already full with the domestic unrest, and it hardly makes sense to drag into the fight the same country that showed the ability to reach Iran’s most sensitive defense sites and top security officials in June.
Even if Trump defies expectations and backs off, and the regime figures out how to inflict enough violence to scare the public back into their homes, it is only a matter of time before mass anger erupts again.
Iran’s adversaries have failed to meaningfully support the protesters in the past. At some point, however, they would do well to recognize that the Iranians risking their lives in the streets are their best chance for ending the threat from the Islamic Republic once and for all.
END
ISRAEL/IRAN
Iran & Israel Secretly Agreed Not To Attack Each Other Through Russian Backchannel
Wednesday, Jan 14, 2026 – 11:50 PM
There may have been some back-channel dealmaking and a ‘mutual understanding’ reached between Iran and Israel far behind the scenes as protests unfolded on Iran’s streets, and as President Trump began to make threats about striking Tehran.
At a moment Trump seems to have climbed down (at least for now) from the threatened drive to intervene militarily, The Washington Post has issued a Wednesday report saying Israel and Iran have been in indirect diplomatic contact via Russia as a mediator.
“Days before protests erupted in Iran in late December, Israeli officials notified the Iranian leadership via Russia that they would not launch strikes against Iran if Israel were not attacked first,” WaPo writes. “Iran responded through the Russian channel that it would also refrain from a preemptive attack, diplomats and regional officials with knowledge of the exchange said.”
Could this be because of the Iranian missiles that rained down on Tel Aviv back in June? If so, it seems the Islamic Republic has finally established deterrence.
The timeline of what was communicated when remains unclear. But this backchannel had already been revealed in Middle East media reports, for example in the following prior reporting:
Israel and Iran have recently exchanged secret, indirect messages through Russia in the midst of heightened regional tensions, according to a new report by Amwaj.media today. The exchanges were described as an effort to prevent further military escalation rather than to establish any form of ceasefire or diplomatic framework.
According to the report, the messages were conveyed through Russian President Vladimir Putin after Israel sought to pass along a signal that it was not interested in escalating military conflict at this stage. Iranian officials acknowledged the message but emphasized that their reply carried no commitment, no coordination, and no obligation on Iran’s part. An Iranian political source quoted in the report said bluntly that “there is no commitment, no coordination, and no ceasefire agreement.” The source emphasized that the contact should not be interpreted as a step toward broader understandings between the two countries, which remain bitter adversaries with no direct diplomatic ties.
The exchanges were reportedly limited in scope and intent. No guarantees were offered, no timelines were discussed, and no monitoring or enforcement mechanisms were established. One source described the communication as “a mutual announcement to a mutual friend on no new strikes,” meaning that the goal was simply to manage tensions at a specific moment rather than to lock in any lasting arrangement.
A senior Iranian political source confirmed that indirect communication with Israel had indeed taken place, identifying Russia, and specifically Putin, as the intermediary. The source reiterated that there was “no ceasefire agreement” and that the messages amounted only to parallel notifications of intent, rather than a shared understanding or deal.
The report says the Iranian side of the exchanges was handled not by the foreign ministry but by Ali Larijani, secretary of Iran’s Supreme National Security Council.
It’s possible that this served as important background to Trump’s apparent decision to not strike Iran at this point. Israel is usually the country yelling loudest to hit Iran, but this time the Netanyahu government was somewhat muted.
By all accounts, Iran’s streets have pretty much gone quiet by now, after a crescendo of violence this week left hundreds dead, including many police and security personnel.
END
USS/ISRAEL GAZA/HAMAS/PEACE PLAN
Witkoff Announces Start Of 2nd Phase Of Gaza Peace Plan
Thursday, Jan 15, 2026 – 07:55 AM
Authored by Ryan Morgan via The Epoch Times (emphasis ours),
Presidential peace envoy Steve Witkoff, on Jan. 14, announced the start of the second phase of President Donald Trump’s Gaza peace plan.
In an X post on Wednesday, Witkoff said the second phase will move Gaza from an initial cease-fire into a period that will see the demilitarization of Hamas and the establishment of a technocratic governance model.
He said the second phase will also see the start of reconstruction for the war-torn territory.
The Gaza peace plan began in October, and the overall strategy is supposed to proceed in three phases and achieve the 20-point plan Trump laid out in September.
“Phase Two establishes a transitional technocratic Palestinian administration in Gaza, the National Committee for the Administration of Gaza (NCAG), and begins the full demilitarization and reconstruction of Gaza, primarily the disarmament of all unauthorized personnel,” Witkoff wrote.
It remains unclear who will comprise Gaza’s interim government. Trump has repeatedly described this government as the Gaza “Board of Peace” and said he will chair the body.
Trump’s 20-point plan includes an offer of amnesty for Hamas members who willingly lay down their arms, as well as an offer of safe passage for Hamas members seeking to leave the territory.
The scope of Gaza’s reconstruction is also unclear.
In October, a representative for the United Nations’ Development Programme shared an estimate that Gaza had sustained around $70 billion in damages over the course of more than two years of conflict.
The first phase of the deal was supposed to include the release of all Israeli hostages, living and dead, held by Hamas.
Thus far, Hamas has returned the remains of 27 out of 28 deceased hostages.
Witkoff warned that Hamas must return the remains of the last person.
“The United States expects Hamas to comply fully with its obligations, including the immediate return of the final deceased hostage. Failure to do so will bring serious consequences,” Witkoff wrote.
Israel and Hamas have traded accusations of other cease-fire violations since October.
On Oct.19, the Israeli military accused Hamas of firing on and carrying out an explosive attack on Israeli troops operating in the Rafah area of the Gaza Strip, killing two of their soldiers. Hamas’s armed wing denied knowledge of the attack and said it had lost contact with its forces in Rafah.
On Dec. 13, Israeli forces carried out a lethal airstrike targeting a Hamas commander they said was involved in continuing efforts to procure weapons and undermine the cease-fire. Hamas said civilians were killed in a strike that day, and argued Israeli military’s operations were undermining cease-fire efforts.
This is a developing story and will be updated with additional details.
END
Iran’s nationwide protests appear smothered, with fate of potential US action unclear
Oil prices fall as chance of conflict seems to recede; Tehran says protester’s execution called off; Iran’s airspace reopens after closing for several hours
By Agencies and ToI StaffToday, 1:21 pm
The nationwide protests challenging Iran’s theocracy appeared to be smothered Thursday, a week after the regime shut the country off from the world and escalated a bloody crackdown that activists say killed thousands.
In Tehran, witnesses say recent mornings saw no new signs of bonfires lit the night before or debris in the streets. The sound of gunfire, which had been intense for several nights, has faded.
Meanwhile, Iranian state media announced wave after wave of arrests by authorities, targeting those it calls “terrorists” and also apparently looking for Starlink satellite internet dishes, the only way to get videos and images out to the internet.Promoted: Hadassah, Learn MoreKeep Watching
“Since January 8, we saw a full-fledged war and anybody who was in the gathering since then is a criminal,” said Justice Minister Amin Hossein Rahimi, according to a report Wednesday from the judiciary’s Mizan news agency.
But there are multiple indications that the threat of mass executions after the protests is receding. Iranian state media on Thursday reported that Essam Soltani, 26, a man who was due to be executed, would not be given the death sentence. US President Donald Trump said he had been told that killings in the regime’s crackdown were subsiding.
Iranian Foreign Minister Abbas Araghchi said on Wednesday there would not be any “hanging today or tomorrow,” despite earlier vows from Tehran to fast-track trials for protesters. He said that the regime was back in “full control.”
The activity followed days of speculation over whether Trump would follow through on threats to strike Iran in response to the killings of thousands of protesters. Trump’s comments about the easing of killings may have implied a hold-off on military action, even as the US evacuated some of its personnel from a military base in Qatar that Iran bombed last year. An NBC report, citing a US official, said Trump would want any strike to be “definitive.”
Amid the uncertainty, Iran closed its airspace to commercial flights for hours on Wednesday night, but reopened it Thursday morning.
The apparent receding of chances for a strike prompted a fall in oil prices.
The UN Security Council was due to meet over the demonstrations later Thursday, as countries in the region urged stability.
Estimates of the death toll range from under 3,000 to over 12,000. A days-long shutdown of the internet by the Iranian regime meant that information about the protests and violence was hard to access and verify. Iran and its Western foes have both described the unrest as the most violent since the 1979 Islamic Revolution that installed Iran’s system of Shiite clerical rule.
Earlier this week, rights organization Hengaw reported that the protester, Soltani, arrested in connection with demonstrations in the city of Karaj, was due to be executed on Wednesday. However, on Thursday, Iranian state media said that while Soltani was being charged with “colluding against the country’s internal security and propaganda activities against the regime,” the death penalty does not apply to such charges if they are confirmed by a court.
The human rights group said there were “serious and ongoing concerns” regarding Soltani’s life.
In an interview with Fox News, Araghchi said on Wednesday that “there is no plan” by Iran to hang people “today or tomorrow,” when asked about the protests.
“There is no plan for hanging at all,” he said. “Hanging is out of the question,” he added.
Araghchi claimed in the interview, without citing evidence, that the violence surrounding the protests was the result of an “Israeli plot.”
Earlier Wednesday, Gholamhossein Mohseni-Ejei, Iran’s judiciary chief, had said the government must act quickly to punish more than 18,000 people who have been detained, through rapid trials and executions. Mohseni-Ejei’s comments about rapid trials and executions were made in a video shared by Iranian state television.
“If we want to do a job, we should do it now. If we want to do something, we have to do it quickly,” he said. “If it becomes late, two months, three months later, it doesn’t have the same effect. If we want to do something, we have to do that fast.”
Tensions escalated on Wednesday, as Iran said it had warned neighbors it would hit American bases in the region in the event of US strikes, and a US official said the United States was withdrawing some personnel from bases in the region. Several Western officials had said US military intervention could be imminent.
The NBC report also said that Trump was due to be presented that day with different military options designed to achieve goals that he had outlined during a briefing with his national security team a day earlier.
Qatar said drawdowns from Al Udeid air base, the biggest US base in the Middle East, were “being undertaken in response to the current regional tensions.” Iran launched missiles at Al Udeid last year in response to US airstrikes on its nuclear installations during the 12-day war between Israel and Iran.
But Trump then said he’d learned that the killings were being halted.
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“We have been informed by very, very important sources on the other side, and they said the killing has stopped, and the executions won’t take place,” Trump said.
Trump said it was possible the government in Tehran could fall due to the protests, but that in truth “any regime can fail.”
“Whether or not it falls or not, it’s going to be an interesting period of time,” he said.
Trump’s comments on Wednesday led oil prices to retreat from multi-month highs, and gold eased from a record peak on Thursday.
According to the report in NBC News, Trump told his top national security aides that he wanted any military action against Iran to deal a swift and decisive blow to the regime while not triggering an extended conflict that lasts for weeks or months.
Citing a US official and people familiar with the matter, the broadcaster said that Trump’s advisers had not been able to guarantee that the Islamic Republic would swiftly fall if struck by the United States, and also cited concerns that they don’t have the military assets in place across the Middle East to defend against an Iranian response.
Therefore, if Trump does decide to attack, he could initially greenlight more limited strikes on Iran, while keeping open the possibility of later escalation, according to the report, which described the situation as quickly evolving and stressed that no decision had been made.
The sources quoted in the report emphasized, however, that Trump is prepared to follow through on his repeated pledge that the US is coming to the aid of anti-government protesters.
“If [Trump] does something, he wants it to be definitive,” one of the people told NBC.
The UN Security Council scheduled an emergency meeting on Iran at the request of the United States on Thursday afternoon.
Saudi Foreign Minister Prince Faisal bin Farhan held a phone call with Araghchi on Thursday to discuss regional developments and ways to support security and stability in the region, Saudi state media reported.
And Turkey’s top diplomat on Thursday called for dialogue to resolve the crisis. “Hopefully, the United States and Iran will resolve this issue among themselves — whether through mediators, other actors, or direct dialogue,” Foreign Minister Hakan Fidan told journalists in Istanbul.
Iran’s airspace closure began overnight Wednesday and ran for over four hours, according to pilot guidance issued by Iran, which lies on a key east-west flight route. International carriers diverted north and south around Iran, but after one extension, the closure appeared to have expired and several domestic flights were in the air just after 7 a.m. Thursday (5:30 a.m. Israel time).
Around midday, Iranian state television carried a statement from the country’s Civil Aviation Authority saying that the nation’s “skies are hosting incoming and outgoing flights, and airports are providing services to passengers.” It did not acknowledge the closure.
Iran previously shut its airspace during the 12-day war against Israel in June, and when it exchanged fire with Israel during the Israel-Hamas war.
Website SafeAirspace said that, nonetheless, the situation continued to affect aviation.
“Several airlines have already reduced or suspended services, and most carriers are avoiding Iranian airspace,” said the site, which provides information on conflict areas and air travel. “The situation may signal further security or military activity, including the risk of missile launches or heightened air defense, increasing the risk of misidentification of civil traffic.”
END
Airlines Still Avoid Iran, Iraq Airspace Despite Reopening – Trump Assures Tehran No Strikes Imminent
Thursday, Jan 15, 2026 – 10:20 AM
Overnight, the world was on edge watching for potential signs of a new US military strike on Iran. This sense of anticipation was only heightened when Iran issued a nationwide “NOTAM” – or “notice to all airmen” – for its airspace which lasted nearly five hours.
All flights were banned except ones to and from Tehran which had been issued special permission. This was coupled with online rumors of fighter jets being heard over neighboring Iraqi airspace, but no new attack materialized. Late in the evening, President Trump also made known his reasons for holding off on any new strikes. Iranian officials say Trump informed Iran he does not intend to attack.
As we reported, Trump told his national security team that “he would want any U.S. military action in Iran to deliver a swift and decisive blow to the regime and not spark a sustained war that dragged on for weeks or months.”
“If he does something, he wants it to be definitive,” one of the people familiar with the discussions said.
He had also earlier cited that he’s been told that Iran is not killing anymore people in the streets – which Tehran leaders said were rioting and killing police in some cases. Further Trump said there are no further plans to execute protesters:
US President Donald Trump has welcomed “good news” in Iran after posting a message on social media suggesting an Iranian protester would no longer face the death penalty as earlier reported by various human rights organizations.
Trump wrote that an “Iranian protester will no longer be sentenced to death after President Trump’s warnings”. In response to the report, he added: “This is good news. Hopefully, it will continue.”
Whether the protester in question was really set to be executed is unclear, given the Western MSM sourcing for this and other claims:
Despite Trump indicating there will be no imminent strike on Iran, and with Iranian authorities now saying the streets are calm and police and security services are in complete control again, there’s still concern that this is a ploy by the administration.
Security has been heavy on Iran’s streets in the last 48 hours:
“There is big military presence on the streets of the capital and elsewhere,” the resident said, describing widespread checkpoints, police stops and the presence of the Islamic Revolutionary Guard Corps (IRGC).
After all, just prior to the start of the June war, the Iranians were lulled into thinking that they were entering new good-faith negotiations with Washington, and then suddenly a surprise Israeli-US attack ensued and their nuclear facilities were taken out.
As for regional airspace, commercial aviation (out of Europe) is still not taking any chances, even though airspace over the Islamic Republic has reopened:
European airlines are continuing to avoid flying over Iran, despite Tehran having reopened its airspace following an earlier closure of nearly five hours, according to reports.
Airlines were also avoiding flying over neighboring Iraq, Reuters news agency reported, citing information on flight tracking websites.
British Airways, Wizz Air, Lufthansa and TUI were among the airlines flying alternative routes in a bid to mitigate risks in the region, amid fears of potential US military action against Iran.
“We avoid Iraqi and Iranian airspaces, therefore some westbound flights from Dubai and Abu Dhabi airports will have to make [refuelling and crew change] stops in Larnaca, Cyprus or Thessaloniki, Greece,” a Wizz Air spokesperson was quoted as saying.
Trump has long proven his ability to catch the world, and Washington’s rivals and enemies, by shock and surprise – so it’s still anyone’s guess what might happen in the coming days and weeks.
RUSSIA VS UKRAINE
Zelensky Declares Permanent State Of Emergency For Energy Sector
Thursday, Jan 15, 2026 – 04:15 AM
Already Ukraine’s power grid has long suffered, with rolling blackouts having been in effect across parts of the country for much of the past year, but this week things have gotten worse amid a harsh freeze.
Ukrainian President Volodymyr Zelensky has announced that the government is declaring a state of emergency in the energy sector after repeated Russian strikes damaged heating and power facilities during freezing winter conditions.
“A permanent coordination headquarters will be established to address the situation in the city of Kyiv. Overall, a state of emergency will be declared for Ukraine’s energy sector,” Zelensky confirmed after coming out of a crisis meeting.
He added that efforts were underway “to significantly increase the volume of electricity imports into Ukraine.” But no matter how fast repair teams work, or alternative imports enter, the energy grid is being degraded faster than parts can be found or replaced.
Emergency repair teams are working nonstop to restore power across the capital region. For example, in Boryspil – a town of roughly 60,000 residents southeast of Kiev – engineers have been dismantling and reconstructing damaged electrical systems after strikes destroyed critical components.
Local energy officials say crews are operating in subzero conditions, even down to minus 15 degrees Celsius (5 degrees Fahrenheit), from early morning until late at night.
Kyiv Mayor Vitali Klitschko has described the situation the most severe and prolonged power outage since Russia launched its full-scale invasion nearly four years ago, noting that some neighborhoods have been without electricity for several days in a row.
The European Union and NATO have been scrambling to come up with ways to both keep the lights on in Ukraine and defend its cities and vital infrastructure from being devastated by Russia.
All of this is part of Moscow’s attrition strategy, knowing it can outlast, out-gun, and out-manpower Ukraine. This is also about inflicting broader pain and suffering among the population, in hopes of destabilizing the Zelensky government enough to replace him.
Lights out in Ukrainian cities, with some residents having generators or alternative means…
But Europe is equally scrambling to pull resources to prop up Zelensky as well as Ukraine’s civic sector. But looming is the continued escalation, and the potential for the West to pour more powerful weapons into the conflict, such as long-range missiles.
If this happens, Moscow will probably unleash more intensive ‘shock and awe’ style strikes on population and decision-making centers like Kiev.
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUE
the vaccine causes lack of immunity and sub par antibodies
(the Welllness Company)
SUPER FLU SURGING IN 45 STATES, DOCTOR VISITS REACH 30-YEAR HIGH AND ITS LIKELY TO GET WORSE
by The Wellness Company
Trusted medical experts like Dr. Peter McCullough warned months ago that this year’s flu season would be one for the record books, in part because this year’s more virulent flu variant would not respond to the so-called “flu vaccine.” Dr. McCullough told Real America’s Voice:
“This year’s dominant H3N2 strain is unlikely to respond well to the current flu vaccine formulation, despite millions of Americans receiving it.”
Dr. McCullough was, unfortunately, absolutely correct. This year’s flu is more deadly, more virulent and the flu vaccine is doing almost nothing to stop its spread.
And now the mainstream media is catching on. According to NBC News:
Doctors’ visits for flu-like symptoms — fevers, sore throat, extreme fatigue and body aches — have hit the highest level in nearly 30 years, according to the Centers for Disease Control and Prevention, and are likely to continue to rise in the coming weeks. At least 5,000 people have died this season, including nine children.
For the week ending Dec. 27, the CDC reported that nearly 1 in 10 outpatient visits nationwide — 8.2% — were for flu-like illnesses. That’s the highest logged since the CDC started tracking such visits in 1997. The flu has accounted for more than 11 million illnesses this season and 120,000 hospitalizations.
Forty-five states are experiencing high to very high levels of flu activity.
Public health experts are calling it a “perfect storm” strain due to its severity, rapid spread, and the fact that this year’s flu vaccine does not directly match the variant.
Symptoms are familiar—fever, chills, fatigue, cough, sore throat—but reports suggest they are more intense and longer-lasting than what many people are used to.
Most frightening is that as bad as it is, it is likely to get worse:
Because the latest data is from the week of Christmas, it doesn’t yet reflect illnesses caused by holiday travel and gatherings.
“It’s still too soon to know what the impact of the holiday season is going to be on flu activity,” said Krista Kniss, an epidemiologist in the CDC’s influenza division. “We’re not anywhere close to being done.”
THE KEY TO AVOIDING HOSPITILIZATION: EARLY TREATMENT
END
How Urolithin A Drives Mitochondrial Renewal and Slows Immune Aging EAT Pomegranates
Inbox
| Robert Hryniak | 10:08 AM (1 minute ago) | ||
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Pomegranates are essential also for heart health. The key to health is a heathy gut where you have 85% good bacteria vs 15% bad bacteria ( ideal balance).
Unfortunely, few people talk about gut health and yet without a proper balance there you cannot have health. Some visionary people like Zack Bush in America ( years ahead of most) researched this years ago and it will take another decade before this is mainstream. The key for people is to understand that health starts at the mitochondrial level. In essence you are what you eat. But it does not stop there because we all require a means of delivery into a cell. This is why Ionizers are the best friend of anyone with illness or wanting to reverse age the cellular structure without intervention’s like Bio Feedback etc. when water molecules are broken down small enough to penetrate a cell, what ever the water absorbs is directly carried into a cell. This is why powdered nutrients work with ionized water since the water acts as a carrier. Allowing direct delivery into the cells that want and need the nutrients. The same applies for drugs where the concept of delivery to a cell works if the drug can penetrate a cell as opposed to passing by. This is also why smarter companies have recognized this and have created products that work to deliver into a cell. You are wasting your money if you do not use such products. Companies like TrueHope.com and Drucker Labs are 2 such companies that get it and have products that work. It is the same way that Ionizers ( good ones) by reputable companies like Tyent have adequate filtration built in to clean municipal water. As municipal water is questionable at best. It is also why astute science can tell if you will have cancer years in advance by analysis of a cell. Perhaps one day this science will be mainstream. Because if you know years in advance the disfunction can be more readily fixed and much cheaper.
Even the concept of having the blood go through a dialysis process to increase oxygen is essential to cleanse the blood of things like cancer cells while energizing the body to renew. Today there are hospitals in Bangkok etc that do this as well as Switzerland. It used to be that people did this to stay young longer and now astute people do this to fight off disease. Daily we are battered with polluted water, air and food stuffs with Big Pharma out of control and this is everyone’s struggle. Because the day approaches that Governments will simply run out debt capacity to fund health care or Big Pharma and then the ultimate price will be paid by all those people who were never told or never knew there was a different path and in reality each of us is charge of our own health. Just like our ancestors were and we all live by what we know and challenge as true for the individual and not the collective.
What so few people recognize is that there is NO ONE STOP solution to prevent disease or illness and that the fight for health really is an individual because no one is in the same state of health. Today as it always has been Outliers who dare to think outside the box and challenge convention are the real winners. It really is no different in making money. There those who understand how to create wealth an and there are many more who live from that creation. The difference often in that wealth creation is a skill NOT taught. And this is why many people believe that to have wealth means someone has to lose wealth. Dumb yes, but a major root of many troubles in society today. And it has been this way for centuries of time. What always causes change is a major upheaval. Just like with health responsibility, it usually takes an upheaval to gain attention.
Cancer — Urolithin A shows anticancer activity mainly in preclinical work. Laboratory and animal studies report that it slows the growth of several tumor types, promotes cancer cell death (apoptosis), and interferes with pathways that support proliferation and invasion.
Reviews describe these effects in models of breast, pancreatic, oral, and other cancers, and highlight actions such as inhibiting NF-κB signaling, activating FOXO1 (a transcription factor that supports cellular stress responses and regulates genes involved in survival and repair), and triggering autophagy-related cell death in tumor cells.7
GLOBAL ISSUES
MARK CRISPIN MILLER
In memory of those who “died suddenly” in the United States and worldwide, January 5-12, 2026
Bob Weir; Michael Reagan; actors T.K. Carter, Jon Korkes, Jayne Trcka; CBS exec Radha Subramanyam (55, C); US rep Doug LaMalfa; state rep Kathy Javner (52, C); bassist Devin Clark Jorgenson; & more
| Mark Crispin MillerJan 14 |
A survey of the likely global toll of COVID “vaccination,” based on the reports collected by our worldwide team of researchers this past week.
To help support our work, consider subscribing or making a donation.
UNITED STATES (96)
[Grateful Dead guitarist] Bob Weir
January 10, 2026
It is with profound sadness that we share the passing of Bobby Weir [78]. He transitioned peacefully, surrounded by loved ones, after courageously beating cancer as only Bobby could. Unfortunately, he succumbed to underlying lung issues. For over sixty years, Bobby took to the road. A guitarist, vocalist, storyteller, and founding member of the Grateful Dead. Bobby will forever be a guiding force whose unique artistry reshaped American music.
Researcher’s note – Dead and Company (with Bob Weir) mandated proof of “vaccination” to attend concerts:
Son of former President Ronald Reagan, Michael, dead at 80
January 7, 2026
The adoptive son of former President Ronald Reagan, Michael Reagan, has died at the age of 80, the Ronald Reagan Presidential Foundation announced on social media Tuesday afternoon. “Michael Reagan lived a life shaped by conviction, purpose, and an abiding devotion to President Reagan’s ideals,” the foundation said. His cause of death was not immediately announced. Reagan was a contributor to the conservative Newsmax television network and was known for his talk radio program, The Michael Reagan Show. The Reagan foundation called him a “steadfast guardian of his father’s legacy.”
‘The Thing,’ ‘Punky Brewster’ actor T.K. Carter dies at 69
January 11, 2026
Actor T.K. Carter, known for roles in “The Thing” and “Punky Brewster,” has died. He was 69. Carter was declared dead Friday evening after deputies responded to a call regarding an unresponsive male in Duarte, California. No foul play is suspected, the Associated Press reported. Born Thomas Kent Carter on December 18, 1956, Carter was raised near Los Angeles and began performing stand-up at age 12. After getting his start in comedy, Carter appeared as Nauls in “The Thing,” as well as films like “Space Jam,” “The L.A. Riot Spectacular” and “Ski Patrol.” He had a recurring role as Michael “Mike” Fulton on the sitcom “Punky Brewster,” which ran from 1984 to 1988. Recent projects included roles in series “The Company You Keep” and “Dave” in 2023.
No cause of death reported.
‘Catch-22’ and ‘Oz’ Star Dies at 80
January 5, 2026
Actor Jon Korkes, renowned for a handful of memorable roles, has died at 80. His death was announced by New York City’s Stella Adler Studio of Acting, where Korkes taught acting from 2008 until November 2025. Korkes notably appeared in Mike Nichols’ Catch-22 and Alan Arkin’s adaptation of Little Murders, and played corrections officer Tom Robinson in the television drama Oz in its final three seasons.
No cause of death reported.
Who was Jayne Trcka? American bodybuilding legend and Scary Movie star dies suddenly at 62 in San Diego
January 6, 2026
Jayne Trcka, a famous bodybuilder and actress, has died at the age of 62. She passed away on December 12 in San Diego, California. Her death was confirmed by the San Diego County Medical Examiner. The cause of death is still pending. Her son shared the news with TMZ and said he did not know of any illness or health issue that could explain her death. Jayne Trcka was known for her strength, her bold screen presence, and her impact on women’s bodybuilding.
CBS Chief Research and Analytics Officer Radha Subramanyam Dies at 55
January 6, 2026
CBS chief research and analytics officer Radha Subramanyam died Monday after a battle with cancer. She was 55. Subramanyam oversaw all research and analytics operations for CBS, having joined the Eye as executive vice president of chief research and analytics officer in November 2017. She was promoted to her current role in 2020.
Longtime Northern California GOP congressman Doug LaMalfa dies after medical emergency, officials say
January 6, 2026
SACRAMENTO, Calif. — Doug LaMalfa, a Northern California congressman who has represented the state’s District 1 for more than a decade, has died, according to multiple officials on Tuesday. He was 65. The Butte County Sheriff’s Office said emergency personnel went to LaMalfa’s home around 6:50 p.m. Monday after a 911 call. He was taken to Enloe Hospital for emergency surgery but died during the procedure. The coroner is now investigating an official cause of death, the sheriff’s office said.
Sitting Maine representative Kathy Javner dies of cancer
January 12, 2026
State Rep. Kathy Javner died of cancer Saturday, according to leaders of the Maine Republican Party. Javner, a Republican, was serving her fourth term representing District 29, which covers Millinocket and northern Penobscot County. She was 52. Javner was a mother of three children and grandmother to two, according to her biography on the Legislative website.
Researcher’s note – Javner served as the Ranking Member of the Joint Standing Committee on Health and Human Services in the Maine Legislature. In this E-newsletter from April 2021, about a “Mobile Vaccination Unit”, Javner encourages constituents to take the COVID “vaccine”: Link
Cedar Bluff Councilman Tom Wall Dies Unexpectedly
January 12, 2026
Councilman Tom Wall passed away unexpectedly early Sunday morning at Advent Health in Rome [GA], according to city officials. Wall was elected to the Cedar Bluff City Council in August and officially began his term after being sworn in this past November. Though his time in office was brief, colleagues and residents said he brought energy, commitment, and a strong desire to serve the community. Wall had spoken often about his excitement to work on issues important to Cedar Bluff and to be a voice for local residents.
No age or cause of death reported.
Devin Clark Jorgenson, bassist and singer of Minnesota punk band Color TV, has passed away at the age of 41
January 9, 2026
The band shared the message below via Bandcamp on January 5th, 2026. “It is with great sadness that we share the passing of our singer, bass player, and BFF, Devin Clark Jorgenson. Words cannot contain the impact he had on our lives or the space he filled with his heart, humor, and music. Devin gave so much of himself to the world through his relentless creativity and love for this community.”
No cause of death reported.
Three footballers “died suddenly”:
Former NFL Player Dies ‘Suddenly’ Playing Pickup Basketball At 30
January 11, 2026
A former NFL player died “suddenly” playing pickup basketball. He was only 30 years old. Former Tampa Bay Buccaneers lineman Josh Cardiello died suddenly while playing pickup basketball. He died from sudden cardiac arrest. Cardiello was an alum of Buford High School in Buford, Ga. He was playing pickup basketball with friends on Monday morning.
Former Indianapolis Colts Star Running Back Has Died Unexpectedly
January 8, 2026
Former Indianapolis Colts running back Randy McMillan, who spent his six-year career with the organization, has passed away. The Colts announced that Randy McMillan died at the age of 67 on Wednesday. The cause of death was not revealed.
Dr Paul Alexander
Adam Gaertner: Very informative stack article, lots of good information “The Universal Antiviral Protocol, Suffer not a cold to live.” Ask your doctor if it’s right for you: 150 micrograms per
| Dr. Paul AlexanderJan 14 |
kilogram of body weight oral ivermectin, once per day, with fatty food or drink for optimal absorption
55 milligrams per kilogram of body weight unsugared, pure, 80+ mesh ascorbic acid powder (vitamin C), per three hours, with an optional, one-time initial 110 milligram per kilogram dose for moderate to severe illness
In medical Latin, for your doctor’s consideration:
150mcg/kg ivermectin po qd with food
55mg/kg unsugared, pure, 80+ mesh ascorbic acid powder, po q3, optional 110mg/kg bolus for moderate disease, ideally on an empty stomach
That’s it! Taken in the early replication phase of any viral ssRNA infection, full symptomatic recovery is counted in seconds to minutes, not hours or days, and actual clearance of the infection – there is a very distinct difference, which quickly becomes notable at that three-hour dosing interval – should occur within a day or two.’
The Universal Antiviral Protocol – by Adam Gaertner
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Insurrection Act! BOOM! Our great POTUS Trump now threatens invoking Insurrection Act of 1807 ~ to deploy US military to stop protestors attacking ICE agents in Minnesota! I agree, it is time!
Trump’s hand is being forced…Edward a subscriber shared this, thank you Ed! you cannot be attacking law enforcement, ICE agents, like the policy or not, use courts! “Trump Threatens to
| Dr. Paul AlexanderJan 15 |
Invoke the Insurrection Act if Minnesota Doesn’t Start Complying with ICE”
I agree POTUS Trump!
Trump may also need to relax or suspend The Posse Comitatus Act that prohibits use of military on the streets for law enforcement.
Alexander News Network (ANN): Trump’s War 2.0 for America is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
‘The Posse Comitatus Act is a United States federal law (18 U.S.C. § 1385, original at 20 Stat. 152) signed into law on June 18, 1878, by President Rutherford B. Hayes that limits the use of federal military personnel to enforce domestic law by the federal government or by other government entities such as county sheriffs and justices of the peace.’
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NEWSWIZE
| LATEST REPORTS FOR NEWS JUNKIES |
| WATCH: Feds Clear Protesters After Second ICE-Involved Shooting In MinneapolisFederal agents with U.S. Customs and Border Protection (CBP) and U.S. Immigration and Customs Enforcement (ICE) deployed less-than-lethal crowd control measures after an ICE agent was forced to open fire in self-defense. The incident occurred just before 7 p.m. Central Time on Wednesday, when ICE agents made contact with a Venezuelan illegal alien who was released into the country under …READ THE FULL REPORT |
| WATCH: Feds Clear Protesters After Second ICE-Involved Shooting In MinneapolisFederal agents with U.S. Customs and Border Protection (CBP) and U.S. Immigration and Customs Enforcement (ICE) deployed less-than-lethal crowd control measures after an ICE agent was forced to open fire in self-defense. The incident occurred just before 7 p.m. Central Time on Wednesday, when ICE agents made contact with a Venezuelan illegal alien who was released into the country under …READ THE FULL REPORT |
| WATCH: Feds Clear Protesters After Second ICE-Involved Shooting In MinneapolisFederal agents with U.S. Customs and Border Protection (CBP) and U.S. Immigration and Customs Enforcement (ICE) deployed less-than-lethal crowd control measures after an ICE agent was forced to open fire in self-defense. The incident occurred just before 7 p.m. Central Time on Wednesday, when ICE agents made contact with a Venezuelan illegal alien who was released into the country under …READ THE FULL REPORT |
| WATCH: Feds Clear Protesters After Second ICE-Involved Shooting In MinneapolisFederal agents with U.S. Customs and Border Protection (CBP) and U.S. Immigration and Customs Enforcement (ICE) deployed less-than-lethal crowd control measures after an ICE agent was forced to open fire in self-defense. The incident occurred just before 7 p.m. Central Time on Wednesday, when ICE agents made contact with a Venezuelan illegal alien who was released into the country under …READ THE FULL REPORT |
| JUST IN: GOP Rep. Moves To Hold Bill, Hillary Clinton In Contempt Of CongressU.S. Rep. Byron Donalds (R-FL) has moved to hold former President Bill Clinton and former Secretary of State Hillary Clinton in contempt of Congress after the former presidential couple failed to comply with subpoenas issued by the House Oversight and Government Reform Committee. Donalds, a member of the committee, emphasized the need for accountability, drawing parallels to previous cases where …READ THE FULL REPORT |
MICHAEL EVERY/OR OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIR
. OIL ISSUES/NATURAL GAS/ENERGY ISSUES/GLOBAL\
US Forces Seize Sixth Tanker In Western Hemisphere As Trump Targets Dark Fleet
President Trump’s race to secure the Western Hemisphere, in a foreign policy move called gunboat diplomacy, off the coast of Venezuela to dismantle and disrupt a dark-fleet tanker network, has now resulted in a sixth oil tanker being seized by U.S. forces in the Caribbean.
The Wall Street Journal reports that the dark-fleet tanker was seized in the U.S. Southern Command Area of Responsibility, covering Central and South America and the Caribbean.
News details are emerging.
“The cargo-empty US-sanctioned Aframax tanker VERONICA (9256860) was last seen in Venezuela on 2026-01-03 as she departed Amuay. She has directly exported Iranian oil 10 times, as well as received Iranian oil 5x via STS and Venezuelan 2x. This lady’s shady career began in 2020,” Tanker Trackers wrote on X.
The tanker crackdown targets the dark fleet that transports sanctioned Venezuelan oil to Asia, especially to China. That oil revenue once fueled the Maduro regime, which has been dismantled in recent weeks after Nicolás Maduro was captured by U.S. Delta Force operators and flown to New York to face federal charges in the Southern District of New York. He is currently being held in a federal detention center in Brooklyn while awaiting trial.
Shipping analytics provider Kpler says Trump’s gunboat diplomacy has significantly affected Venezuela’s oil exports. Just this month alone, crude loadings have plunged to about half of normal levels. The only tankers able to make port calls are one bound for the U.S. and those transporting oil to Venezuelan refineries.
“The dark-fleet model with Venezuela, for now, has been broken because there are no cargoes,” Michelle Wiese Bockmann, a maritime-intelligence analyst at Windward, told WSJ.
Bockmann said, “Whether or not the dark fleet will be able to resume shipping to China, given that the U.S. is working with PdVSA, the Venezuelan state oil company, to control what’s going in and out of the country, it is quite possible that dark fleet tonnage will no longer call there.”
end
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES
VENEZUELA/USa
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS FRIDAY MORNING 6;30AM//OPENING AND CLOSING
EURO/USA: 1.1633 DOWN 0.0012 PTS OR 12 BASIS POINTS/WITH STOCKS IN EUROPE ALL MIXED
USA/ YEN 158.56 UP .144 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 1.3416 DOWN 0.0023 OR 23 BASIS PTS
USA/CAN DOLLAR: 1.3899 UP 0.0011 CDN DOLLAR DOWN 11 BASIS PTS//
Last night Shanghai COMPOSITE CLOSED DOWN 13.49pts or 0.73%
Hang Seng CLOSED DOWN 76.69PTS OR 0.29%
AUSTRALIA CLOSED UP .30%
// EUROPEAN BOURSE: ALL MIXED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MIXED
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 76.19 TS OR 0.29%
/SHANGHAI CLOSED DOWN 13.49 PTS or 0.33%
AUSTRALIA BOURSE CLOSED UP 0.30%
(Nikkei (Japan) CLOSED UP 1609.27 PTS OR 3.10%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 4614.95
silver:$90.92
USA DOLLAR VS TRY: 43.19
USA DOLLAR VS RUSSIAN ROUBLE: 78.61OUBLE// DOWN 11 BASIS PTS
UK 10 YR BOND YIELD: 4.3801 UP 5 BASIS PTS
UK 30: 5.113 UP 3 BASIS PTS
CDN 10 YR BOND YIELD: 3.360 DOWN 2 BASIS PTS
CDN 5 YR BOND YIELD; 2.889 DOWN 5 BASIS PTS
USA dollar index early THURSDAY morning: 98.98UP 6 BASIS POINTS FROM WEDNESDAY’s CLOSE
THURSDAY MORNING NUMBERS ENDS
And now your closing THURSDAY NUMBERS 11: 30 AM
Portuguese 10 year bond yield: 3.202% DOWN 2 in basis point(s) yield
JAPANESE BOND 10 yr YIELD: +2.168% UP 1/4 FULL POINTS BASIS POINTS /JAPAN losing control of its yield curve/
JAPAN 30 YR: 3.471 UP 4 BASIS PTS//
SPANISH 10 YR BOND YIELD: 3.210 DOWN 1 in basis points yield
ITALIAN 10 YR BOND YIELD 3.408 DOWN 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.8157 DOWN 1 BASIS PTS
IMPORTANT CURRENCY CLOSES : MID DAY THURSDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.1597 DOWN 0.0047OR 47 basis points
USA/Japan: 158.84 UP 0.416 OR YEN IS DOWN 42 BASIS PTS// HIGHLY INFLATIONARY TO JAPAN
Great Britain 10 YR RATE 4.360 DOWN 2 BASIS POINTS //
GREAT BRITAIN 30 YR BOND;5.106 DOWN 2 BASIS POINTS.
Canadian dollar DOWN 32 BASIS pts to 1.3917
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The USA/Yuan CNY UP AT 6.9674 ON SHORE ..
THE USA/YUAN OFFSHORE// CNH UP TO 6.9662
TURKISH LIRA: 43.19 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +2.168 UP 1/4 FULL basis pts
THE 30 YR JAPANESE BOND YIELD: 3.471 UP 4 basis pts
Your closing 10 yr US bond yield UP 1in basis points from WEDNESDAY at 4.149% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.778 DOWN 2 basis points /11:00 AM
USA 2 YR BOND YIELD: 3.543 UP 3 BASIS PTS.
GOLD AT 10;00 AM 4604.00
SILVER AT 10;00: 89.62
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates:THURSDAY CLOSING TIME 11:00 AM//
London: CLOSED UP 27.84 PTS OR 0.57%
GERMAN DAX: CLOSED UP 86.17 OR 0.06%
FRANCE: CLOSED UP 11.56 PTS OR 0.34%
Spain IBEX CLOSED DOWN 38.900 PTS OR 0.22%
Italian MIB: CLOSED UP 192.75 PTS OR 0.42%
WTI Oil price 59,62 10.00 EST/
Brent Oil: 63.5710:00 EST
USA /RUSSIAN ROUBLE /// AT: 78.49 ROUBLE DOWN 0 AND 1 / 100
CDN 10 YEAR RATE: 3.3965 DOWN 1 BASIS PTS.
CDN 5 YEAR RATE: 2.906 DOWN 1 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1603 DOWN 0.0041 OR 41 BASIS POINTS//
British Pound: 1.3376 DOWN 0.0064 OR 64 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.3897UP 1 FULL BASIS PTS//
BRITISH 30 YR BOND YIELD: 5.134 UP 1 IN BASIS PTS.
JAPAN 10 YR YIELD: 2.166 DOWN 1FULL BASIS PTS (DANGEROUS TO THEIR ECONOMY
JAPANESE 30 YR BOND: 3.472 DOWN 4 PTS AND STILL VERY DANGEROUS TO THEIR ECONOMY
USA dollar vs Japanese Yen: 158.59 UP 0.170 OR YEN DOWN 17BASIS PTS EXTREMELY DANGEROUS/YEN FALLING DEEPLY IN VALUE
USA dollar vs Canadian dollar: 1.3897 UP 0.0009 PTS// CDN DOLLAR DOWN 9 BASIS PTS
West Texas intermediate oil: 59.01
Brent OIL: 63.50
USA 10 yr bond yield UP 3 BASIS pts to 4.160
USA 30 yr bond yield DOWN 0 PTS to 4.763%
USA 2 YR BOND 3.500 UP 5 PTS
CDN 10 YR RATE 3.352 DOWN 1 BASIS PTS
CDN 5 YEAR RATE: 2.898 DOWN 1 BASIS PTS
USA dollar index: 98.19 UP 28 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 43.18 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 78.27 UP 0 AND 23/100 roubles //
GOLD $4,606,00 3:30 PM)
SILVER: 91,73 3;30 PM)
DOW JONES INDUSTRIAL AVERAGE: UP 292.03OR 0.60%
NASDAQ 100 UP 60.70 PTS OR 0.26%
VOLATILITY INDEX 15.92 DOWN 0.83PTS OR 4.96%
GLD: $ 423.33 DOWN 2.610 PTS OR 0.61%
SLV/ $83.32 DOWN 1.24 PTS OR OR 1.47%
TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 81.30 PTS OR 0.0.25%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING
Banks & Big-Tech Lift Stocks As ‘De-Escalation’ Sends Oil, Gold, & Crypto Lower
WRAP UP
USA DATA RELEASES
Initial Jobless Claims Plunge Back Near Record (56 Year) Lows
Thursday, Jan 15, 2026 – 08:40 AM
Once again, weekly jobless claims data shows no signs of pain the labor market with the number of Americans filing for jobless benefits for the first time dropping back below the Maginot Line of 200k (198k – below all estimates)…
Source: Bloomberg
Interestingly, the unadjusted data surged higher (330k) as its seasonal pattern continues.
New York saw the largest drop in initial claims last week (and Texas the biggest increase)…
Source: Bloomberg
The ‘adjusted’ claims data is back near its lowest levels since 1969…
Source: Bloomberg
Continuing jobless claims remains below its crucial 1.9 million Americans level…
Source: Bloomberg
Interestingly, despite the overall decline, we are seeing a resurgence on continuing claims in the ‘Deep Tristate’ region…
Source: Bloomberg
So, all in all, the ‘no hire, no fire’ economy continues with GDP growth forecasts holding exceptionally strong.
USA ECONOMIC COMMENTARIES
Obamacare Enrollment Trails 2025 By Less Than Expected
by Tyler Durden
Wednesday, Jan 14, 2026 – 05:30 PM
Authored by Lawrence Wilson via The Epoch Times (emphasis ours),
Plan selections in the Affordable Care Act Marketplace were 3.5 percent behind 2025’s number with two weeks left in open enrollment, but the drop-off has not been as severe as some analysts predicted.
Some 22.8 million people had selected a plan by Jan. 3, about 830,000 fewer than at the same point in 2025. The program, popularly known as Obamacare, appears on track for its second-highest enrollment ever.
The open enrollment period began on Nov. 1, 2025, and ends on Jan. 15 in most states. During open enrollment, anyone can sign up for Obamacare. Outside that period, only those who report a qualifying life event such as a birth, divorce, or job change can enroll.
The decline for 2026, if it continues through the final weeks of open enrollment, will mark the first drop in participation since 2020.
Subsidies Boosted Enrollment
Since its inception, Obamacare enrollments started slower than predicted, taking three years to reach 12.7 million in 2016. From there, enrollment decreased by about 10 percent over four years.
Enrollment was bolstered by enhanced subsidies starting in 2021, more than doubling to 23.4 million by 2025.
The scheduled expiration of the enhanced subsidies in December 2025 sparked heated debate in Congress on the affordability of the program without them.
Congressional Democrats sought to make the enhanced subsidies permanent. That effort failed to advance in the Senate despite Democrats’ willingness to withhold federal government funding throughout the fall in an attempt to force negotiations.
The enhanced subsidies were implemented in 2021 as a two-year measure to ensure the affordability of health coverage during the COVID-19 pandemic era. They were later extended through 2025.
Health insurers judged that middle-class Americans who had opted into Obamacare in recent years would opt out again when the subsidies expired, dramatically changing the risk profile of remaining enrollees and shifting it toward those with chronic conditions or higher medical needs.
In response, insurers raised premiums by an average of 27 percent, according to data from health policy research group KFF.
Drop Less Than Predicted
Many observers predicted a huge drop in enrollment in 2026 based on both the decrease in subsidies and the increase in premium costs.
Jason Levitis, senior fellow at Urban Institute, told senators in November that 4.8 million people would lose health coverage in 2026 if the enhanced subsidies expired, based on a report from his organization.
The expiration of the subsidies would “leave millions uninsured or forced to make impossible choices,” according to the Center on Budget and Policy Priorities.
Although the initial 3.5 percent drop of 830,000 enrollees is significant, it does not approach those predictions.
At 22.8 million enrollees, the 2026 figure is 12 percent ahead of 2024 and 43 percent ahead of 2023.
Over the past four years, the number of plan selections increased by an average of 3.7 percent during the final two weeks of open enrollment. In 2025, the increase was 2.4 percent.
On the current track, the number of 2026 plan selections would be the second-highest ever.
Further Decline Likely
Yet some analysts say there will be a further drop after open enrollment closes.
“While we do eventually expect to see declines in Marketplace enrollment, following the expiration of the enhanced premium tax credits at the end of 2025, it is too soon to tell how much it will change,” said Jared Ortaliza, a policy analyst at KFF studying the Affordable Care Act.
The data available now indicate marketplace plan selections, which become “effectuated” enrollments when consumers begin paying premiums.
The vast majority of 2026 plan selections so far—20 million—are 2025 customers who were automatically reenrolled in the plan, according to the Centers for Medicare and Medicaid Services.
Those automatic plan selections do not always become premium-paying enrollees, according to Ortaliza.
“The extent of [Affordable Care Act] enrollment changes likely won’t be known until this summer, when effectuated enrollment data are typically released,” he said.
In 2025, the number of effectuated enrollments was about 4 percent less than the number of plan selections.
Brian Blase, president of Paragon Health Institute, theorized that much of the decline in plan selection, and a likely further decline in effectuated enrollments, is attributable to improper or fraudulent enrollments.
“The decline in enrollment from ’25 to ’26 means that some of the fraudulent enrollment exited the market,” Blase wrote on social media.
Blase estimated that about 5 million enrollments in 2024 and 6.4 million in 2025 were improper, with many being fraudulently enrolled in plans with $0 premiums. He said many will disappear as people do not effectuate coverage, which involves paying a premium.
“This means that people who are unaware of their enrollment, in other coverage, or ‘fake’ people will not pay their share of the premium and should (assuming insurers follow the rules) be removed,” Blase wrote.
An effort to reinstate the enhanced subsidies is ongoing in Congress.
Open enrollment in Kentucky and Maine closes on Jan. 16 and in Massachusetts on Jan. 23. Open enrollment closes in California, New Jersey, New York, Rhode Island, Washington state, and Washington on Jan. 31.
END
Multifamily Delinquencies Rise Again, Hit New Post-Great Recession High
Thursday, Jan 15, 2026 – 10:40 AM
Authored by Ryan McMaken via Mises Institute,
Fannie Mae and Freddie Mac (also known as “GSEs”) have released their November reports on their mortgage portfolios and mortgage delinquencies. Both Fannie and Freddie report that serious delinquencies in multifamily are rising to multiyear highs.
For November, seriously delinquent multifamily mortgages (90+ days delinquent) at Fannie Mae rose to 0.75 percent. That’s up from October’s total of 0.71 percent, and it was up from November 2024’s total of 0.60 percent. Fannie’s delinquency rate has risen quickly since December 2022 when the rate was 0.24 percent. Excluding the covid panic, Fannie’s delinquency rate is now the highest since 2010, but remains below the Great-Recession high of 0.80 percent.
Freddie Mac’s delinquency report, on the other hand, shows delinquencies above the Great-Recession peak. During November, Freddie reported multifamily serious delinquency rate was 0.48 percent. That’s unchanged from October 2025, but up from November 2024’s level of 0.41 percent.
Comparing for November of each year, November 2025’s delinquency rate at Fannie exceeds that of November 2011, the previous peak year for delinquencies (ex covid), when November delinquencies reached 0.72 percent. At Freddie, November 2025’s delinquency rate of .48 percent is the highest in decades, and above the previous peak of 0.39 percent.
This trend likely reflects slowing rent growth and waning demand for rentals as employment stagnates and wage growth slows. CNBC reported on Dec 26:
After years of steep increases, renters are finally seeing sustained price relief, a trend that appears to be carrying into early 2026.
In November, the median asking rent across the 50 largest U.S. metro areas was $1,693, down about 1% from a year earlier and marking the 28th consecutive month of year-over-year declines, according to Realtor.com listings data. Nationally, the median rent fell to $1,367, down 1.1% from a year earlier, according to Apartment List’s data.
November is typically the slowest month for rentals, but rents fell more from October to November this year than they did over the same period last year, according to Apartment List.
With new apartment supply still hitting the market, rents are expected to remain lower into 2026.
“Barring a major economic shock, 2026 is shaping up to be one of the more renter-friendly periods we’ve seen in a decade,” says Michelle Griffith, a luxury real estate broker at Douglas Elliman.
The phrase “renter friendly” is anything but friendly for owners of multifamily rentals. Moreover, landlords must continue to contend with rising prices in services and materials necessary for regular maintenance of multifamily units. In other words, we must consider inflation, so real, inflation-adjusted rent growth is even worse than the nominal declines now reported in a number of metro areas. In Denver metro, for example, the median asking rent in November was down 4.8 percent, year over year.
KING NEWS
| The King Report January 14, 2026 Issue 7659 | Independent View of the News |
| The Pentagon is presenting a wider range of strike options in Iran than previously reported, options include nuclear, ballistic missile targets: NYT (So, Iran has rebuilt those facilities.) Reports say Israel was ready to strike Iran twice in the past two weeks. Netanyahu’s New Year’s Eve visit at Mar-a-Lago probably occurred because Bibi wanted to share intel about Iran, most likely that Iran is rebuilding its nuclear weapons and missiles facilities. @USAttyPirro: The United States Attorney’s Office contacted the Federal Reserve on multiple occasions to discuss cost overruns and the chairman’s congressional testimony, but were ignored, necessitating the use of legal process—which is not a threat. The word “indictment” has come out of Mr. Powell’s mouth, no one else’s. None of this would have happened if they had just responded to our outreach. This office makes decisions based on the merits, nothing more and nothing less. We agree with the chairman of the Federal Reserve that no one is above the law, and that is why we expect his full cooperation. According to US AG for DC Pirro, Powell has ignored her office’s requests. Is Powell stretching ‘Fed Independence’ absurdly too far? WaPo’s @amacker: U.S. Attorney Jeanine Pirro’s office emailed Fed staff in December seeking a meeting or call, then followed up about 10 days later. With no response by last Thursday, prosecutors obtained grand jury–authorized subpoenas the next day, according to a DOJ official… Separately, housing finance regulator Bill Pulte recently met with President Trump at Mar-a-Lago and shared a mock “wanted poster” of Fed Chair Jerome H. Powell, according to a person familiar with the meeting. He laid out scenarios that included investigating Powell — an idea Trump liked. (Trump denied knowledge of the criminal investigation, Pulte denied any involvement and the DOJ has said the FHFA director wasn’t a factor in the inquiry.)… Also: Treasury Secretary Scott Bessent months ago had worked to quell Pulte’s push to go after Powell, but he believed the matter had been resolved, and did not realize there had been a renewed effort by Pulte in recent weeks to do so. When the Justice Department served Powell on Friday, Bessent was angry. The treasury secretary made his displeasure known to Trump, telling the president that Powell was now unlikely to give up his position when his term as chairman lapsed in May. The president, meanwhile, shrugged off the concern. @teroterotero: Bessent really leaked to EVERYONE how sane he is and how it’s the other guys who are doing mad stuff. WSJ, WaPo, Axios… Bessent spent the whole day on the phone stabbing his colleagues in the back. And all these reporters print everything he says. GOP Rep @AbrahamHamadeh: The Federal Reserve was never independent. It serves corporate interests at the expense of the American people. Trump understands this and no longer plays the game. Japan PM Takaichi to call for election when Diet convenes next week: source If the lower house is dissolved on Jan. 23, official campaigning for a general election may start on either Jan. 27 or Feb. 3, with voting possibly on Feb. 8 or Feb. 15, respectively… https://www.msn.com/en-xl/politics/government/japan-pm-takaichi-intends-to-call-for-election-when-diet-convenes-next-week/ar-AA1U640k The yen tumbled to 159.07/dollar at 18:20 ET. This is the lowest level since July 2024. Q4 results reporting season began on Tuesday. JPM reported 5.23 Adj EPS, 5.00 was consensus; the stock fell as much as 3.3%. But GAAP earnings were 4.63 with 4.85 expected, due to a $2.2B (.60/share) credit reserve on its purchase of the Apple Card portfolio. Q4 provisions for credit losses were $4.66B; 4.68B was expected. Profits declined 7% due to high loan loss provisions. JPM Q4 Equities Sales & Trading Rev $2.86m, $2.7B exp; FICC Sales & Trading $5.38B, $5.27B exp. JPMorgan Says ‘Everything’ on Table to Fight 10% Credit Card Cap – BBG … threatens to “significantly change” its business and would harm… customers… “It would be very bad for consumers, very bad for the economy,” CFO Jeremy Barnum… Besides bribing Congress and employing financial terrorism, what is “everything on the table?” Delta reported 1.55, 1.53 was expected; DAL declined as much as 4.1%. ESHs opened modestly lower on Monday and proceed to fall to 6998.75 (-17.75) at 20:41 ET. After a sudden pop to 7008.50 at 20:51 ET, ESHs inched up to 7014.00 at 1:52 ET. ESHs then eased down to 7002.50 at 5:15 ET. ESHs then traded sideways with an upward bias until they exploded higher at 8:24 ET on buying on the expectations for a ‘good’ Dec CPI Report, which was due for an 8:30 ET release. (Full CPI Report at link) https://www.bls.gov/news.release/archives/cpi_01132026.htm After hitting a daily high of 7036.25 at 8:31 ET, ESHs sank to 7013.00 at 8:49 ET because Dec CPI was the expected 0.3% m/m and 2.7% y/y. CPI Core was the initially expected 0.2% m/m & 2.7% y/y. Later, Street Core CPI estimates fell to 0.2% m/m and 2.6% y/y. After a rebound to 7027.50 at 9:24 ET on buying for the NYSE opening, pros dumped. ESHs tumbled to a daily low of 6983.50 at 10:27 ET. Buying for the 2nd-Hour Reversal seeding a rally that took ESHs to 7014.75 at 11:55 ET. Sellers returned; ESHs sank, via a 5-wave decline, to a daily low of 6976.75 at 15:34 ET. An illegal late manipulation forced ESHs to 7004.25 at 16:00 ET. Remember “freely traded markets?!” Good times! Speaking at the Detroit Economic Club, Trump issued absurd and stupid economic and financial remarks. Trump: “The stock market is now the HIGHEST in history” — including 52 new ALL-TIME RECORDS set since the election.” https://x.com/RapidResponse47/status/2011156862780272924 Trump: I want Fed Chief to Put Rates Down on Good News – BBG 14:11 ET Trump: When the Market Goes Up, Fed Should Lower Rates – BBG 14:11 ET Trump said Powell “kills every rally” – after crowing, “the stock market is now the highest in history.” https://x.com/KobeissiLetter/status/2011158657355165708 It is very dangerous to have leaders who are NOT nearly as smart as they think they are! The damage they can and often do is “like nothing ever seen before!” Trump claims the billions over budget for the Fed HQ project means Powell is “incompetent or crooked.” It is extremely distressing that the exasperating and narcistic (to-the-max) DJT might be the little boy with his fingers in the dyke that is holding back some form of Bolshevism. Trump: “Starting February 1st, we’re not making any payments to sanctuary cities or states having sanctuary cities because they do everything possible to protect criminals at the expense of American citizens and it breeds fraud and crime and all of the other problems that come.” https://x.com/FoxNews/status/2011168853095825912 Trump: “We will now require proof of attendance in order to receive federal funding for childcare… We’re freezing any and all welfare payments going to illegal immigrants, effective immediately.” https://x.com/alx/status/2011176365039468882 Trump: “My wife tells me my dancing is not presidential.” (If Melania thinks his awkward and awful dance is unpresidential, wait until she sees the video of DJT flipping off and saying ‘f*** you to a worker that called him a ‘pedo protector!’) https://x.com/Osint613/status/2011189646315962641 WaPo’s @natalie_allison: The UAW worker who yelled “pedophile protector” at Trump today has been suspended. “No regrets whatsoever,” he told WaPo… A cellphone video captured Trump, who was visiting the Ford F-150 plant in Dearborn, twice mouthing “f— you.”… https://www.washingtonpost.com/politics/2026/01/13/trump-ford-factory-heckler-detroit/ @DannyDayan5: According to the BLS, the cost of health insurance is down 32% since 2022. They say the price of health insurance has not changed $1 since 2019… https://x.com/DannyDayan5/status/2011202712814203335 DJT can whine, bully, and gaslight Americans about inflation, but CPI is NOT reality. Checkbooks are. “Do you wish to know [when] that day is coming? Watch money. Money is the barometer of a society’s virtue. When you see that [commerce is conducted], not by consent, but by compulsion—when you see that in order to produce, you need to obtain permission from men who produce nothing—when you see that money is flowing to those who deal, not in goods, but in favors—when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you–when you see corruption being rewarded and honesty becoming a self-sacrifice—[then] you may know [that day has arrived–you may know that your society is doomed…” — Francisco d’Anconia, a central character and copper mine owner in “Atlas Shrugged” Positive aspects of previous session USHs rallied modestly. Buying for looming Q4 results relegated Fangs and techs to modest declines. An illegal late ESH manipulation truncated losses Negative aspects of previous session Spot Silver hit a record high of 89.119. The DJIA and DJITA declined smartly. Ambiguous aspects of previous session When will the earning season rally appear? First Hour/Last Hour NYSE Action [S&P 500 Index]: 1st Hour: Down; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 6962.76 Previous session S&P 500 Index High/Low: 6985.83; 6938.77 @NiohBerg: “I have news from someone in Dezful – the city is under siege by Hashd ash-Shaabi (Iraqi terrorist militia). They are beastly mercenaries with covered faces who can’t understand Persian and only speak Arabic. The city is on curfew and there’s an atmosphere of terror and dread everywhere. Snipers are positioned on taller buildings in the last few days, head shotting people at random. They have no mercy and don’t discriminate between children, teenagers or the elderly. Anyone leaving the house risks be shot by snipers or killed by mercenaries on the ground. It’s very likely that the situation is similar in other cities in Khuzestan Province. They are getting massacred in total silence (no news coverage) and isolation. Please speak up for Dezful and other smaller cities.” @CBSNews: At least 12,000 are feared dead amid Iran’s mass protests, and sources suggest the toll could be even higher. @realDonaldTrump: Iranian Patriots, KEEP PROTESTING – TAKE OVER YOUR INSTITUTIONS!!! Save the names of the killers and abusers. They will pay a big price. I have cancelled all meetings with Iranian Officials until the senseless killing of protesters STOPS. HELP IS ON ITS WAY. MIGA!!! PRESIDENT DONALD J. TRUMP Jan 13, 2026, 8:43 AM George H W Bush did NOT ‘get’ Saddam Hussein during Gulf War I. So, George Herbert Walker (As in ‘Walker Cup’ tennis) implored Iraqis to overthrow Hussein. The brutal Hussein regime then tortured and killed thousands. Trump best NOT do the same thing! Today – The SCOTUS will issue its Trump Tariff ruling. Most of The Street expects the SCOTUS to squash the tariffs. What would ensue is unknown but should be chaotic. Astute traders will wait and watch for developments. This is why Tuesday night trading was very quiet initially. Mild selling appeared when reports that Trump was at the WH reviewing strike options on Iran appeared. ESHs are -6.00; NQHs are -8.50; Feb AU is +126.40; and USHs are -6/32 at 20:38 ET. Expected Earnings: BAC .95, WFC 1.68, C 1.65 Expected Economic Data: Nov PPI and Core PPI 0.2% m/m & 2.7% y/y; Nov Retail Sales 0.4%, Ex-Auto 0.4%, Ex-Auto & Gas 0.3%; Dec Existing Home Sales 4.22m; Phil Fed Pres Paulson 9:50 ET, Fed Gov & DJT BFF Miran and Atlanta Fed Pres Bostic 10 ET, NY Fed Pres Williams 14:10 ET. S&P Index 50-day MA: 6823; 100-day MA: 6727; 150-day MA: 6569; 200-day MA: 6339 DJIA 50-day MA: 47,857; 100-day MA: 47,015; 150-day MA: 46,016; 200-day MA: 44,790 (Green is positive slope; Red is negative slope) S&P 500 Index (6963.70 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 6897.28 triggers a sell signal Hourly: Trender and MACD are negative – a close above 6972.98 triggers a buy signal Bill Clinton (Hilary due today) defies congressional subpoena to appear in Jeffrey Epstein probe (Then he should be arrested and jailed like the Biden DoJ did to Trump officials. As Dems and the media have proclaimed, “No one is above the law!”) https://www.foxnews.com/politics/bill-clinton-defies-congressional-subpoena-appear-jeffrey-epstein-probe @GuntherEagleman: House Oversight Chairman James Comer says that he is moving to hold Bill Clinton in CONTEMPT of Congress. Peter Navarro went to PRISON and Clinton should be too! https://x.com/GuntherEagleman/status/2011100416822726656 Clintons say ‘now is that time’ to ‘fight for this country’ as they’re targeted for contempt https://abcnews.go.com/Politics/after-bill-clinton-fails-testify-epstein-probe-chairman/story VP @JDVance: This is an extremely important point: you’re only seeing chaotic ICE raids in blue sanctuary cities where local officials are fighting against federal law enforcement. The chaos is created by “leaders” who would rather promote rioting in their streets than follow the law. Fox’s @BillMelugin_: DHS to end Temporary Protected Status (TPS) for thousands of Somalis in the US, including hundreds in Minnesota. They will be required to leave the U.S. by March 17th or will face deportation. “Temporary means temporary”, @Sec_Noem tells FOX. @alx: Democrats have brainwashed their base to abandon their families and risk their lives for criminal invaders who would probably murder them and their children without a second thought. Impressive stuff. @MattForVA: Virginia Democrats (who have a super majority) are about to pass a law saying teachers in schools have to describe J6 as an unprecedented violent attack. They’re not allowed to say anyone peacefully protested, and they’re not allowed to say there was any election fraud. https://t.co/RgUQiaLuDI @thehealthb0t: Did you know that the death rate from measles declined by 98% BEFORE the measles vaccine was introduced? The decline had nothing to do with vaccines. https://x.com/thehealthb0t/status/2011150419700166776 @libsoftiktok: People (Mag) just changed the author to “People Staff” because Victoria Edel couldn’t handle the backlash. This disgusting headline was written by @victoriaedel… https://x.com/libsoftiktok/status/2011157689762791509 @EricLDaugh: SCOTUS Justice Sam Alito asks ACLU lawyer “what is a man and a woman?” and they DON’T HAVE A DEFINITION. Alito’s response is perfect. ALITO: What does it mean to be a man or woman? ACLU: We do not have a definition for the Court. ALITO: How can a court determine whether there’s discrimination on the basis of s*x, without KNOWING what s*x means?!… https://x.com/EricLDaugh/status/2011157362002763905 @susancrabtree: Secret Service statement on Agent Escotto’s disclosure of VP Vance’s movements and other incredibly inappropriate details to a woman he met on an online dating app. Timing couldn’t be worse for the agency after a crazy trans person tried to break into Vance’s Ohio home last week… https://x.com/susancrabtree/status/2011169208353374529 | |
| The King Report January 15, 2026 Issue 7660 | Independent View of the News |
| Gold, silver, and copper soared on reports the US was positioning assets to strike Iran. Spot Silver hit a record high of 93.50. Physical Gold hit a record high of 4641.88 at 7:56 ET. Near 9 ET, someone assaulted gold and drove it down to 4599.00 at 10:08 ET. AU quickly rebounded and hit 4642.98 at 14:01 ET. Assaulting gold in early US trading has occurred repeatedly. It is NOT a coincidence! @no_itsmyturn: US Navy Northrop Grumman MQ-4C Triton patrolling off the coast of Iran https://x.com/no_itsmyturn/status/2011232732618334268 @_The_Prophet__: This is real-time targeting prep. The MQ-4C Triton is a strategic surveillance platform with multi-intelligence fusion capabilities. High-altitude, long-endurance, capable of wide-area maritime ISR and signals intelligence. Its presence confirms active battle-mapping. It is not reconnaissance for future contingencies. It is live-feed targeting validation. Final threat correlation. Networked with real-time strike packages. The specific geography is the signal. Gulf airspace is constrained, Iranian air defenses are paranoid, and U.S. assets are staging offshore. You do not fly a Triton along this corridor without operational intent. The only reason to fly it now is to complete the precision kill chain. This confirms three layers: 1. Ignition prepositioning is finished. 2. Targeting telemetry is live. 3. Strike authorization is functionally staged. The only thing not yet declared is timing. The structure is already active. The war circuit is online. @sentdefender: The U.S. Air Force’s evacuation of military aircraft from Al Udeid Air Base has begun in preparation of strikes against Iran, with a steady stream of at least 6 KC-135R/T “Stratotanker” Aerial-Refueling Tankers seen departing the base in Qatar. https://x.com/sentdefender/status/2011522383786754091 Fox: Some US military personnel told to leave Middle East bases, US official confirms WSJ: The Obscure Bank Collapse That Sent Iran Into a Tailspin Bad loans to regime cronies brought down Ayandeh Bank, accelerating a long-running financial crisis Five Iranian banks are on the brink of collapse, including Bank Sepah, one of Iran’s three largest banks and the primary bank for the IRGC and Iranian military… https://www.wsj.com/world/middle-east/bank-collapse-iran-protests-83f6b681 Once again, the SCOTUS punted on issuing its ruling on Trump Tariffs. If they rule against the tariffs, chaos is likely. Will the collected tariffs have to be refunded; and if so to whom? Will Congress have to authorize the payments and the debt issuance to fund them? Will US companies sue the US? Oct PPI 0.1% m/m & 2.8%, 0.1% & 2.6% exp; Core PPI 0.3% m/m & 2.9%, 0.2% m/m & 2.5% y/y exp. Nov PPI 0.2% m/m & 3.0%, 0.1% & 2.7% exp; Core PPI 0.0% m/m & 3.0%, 0.2% m/m & 2.7% y/y exp. Nov Retail Sales 0.6%, 0.5% exp; Ex-Auto 0.5%, 0.4% exp; Ex-Auto & Gas 0.4%, 0.3% exp. Dec Existing Home Sales 4.35m, 4.22m expected @WallStreetMav: The CME futures exchange just introduced a new silver contract. This mini Silver contract is 100 oz. The standard contract is 5,000 oz. Here is the catch. The 100 oz contract is “settled financially”. Meaning there is no vault with 100 oz silver bars. It is all fake pricing. This is designed to fool the market that they have actual silver to trade. The problem with the 5,000 oz silver contract is that industrial users can take delivery at settlement and remove silver from the vaults. There are not enough of those 1,000 oz silver bars around to settle all of the 5,000 oz futures contracts that want silver. The 100 oz contract has zero silver backing it. It is all fake paper silver. Miran: Reiterates Need for 150 Basis Points of Cuts This Year Fed’s Miran: Stories about risk to US institutions are from people looking for clicks. Fed’s Bostic: We still need a restrictive posture on rates. @charliebilello: The US Inflation Rate (CPI) ended 2025 at 2.7%, the 58th consecutive month above the Fed’s 2% target level. The last time inflation was this high for this long? 1997, when the Fed Funds Rate was over 5%. The Fed should be hiking interest rates, not cutting. https://t.co/7VsmAOG7ag @stlouisfed: Sticky price CPI (slow-to-change consumer prices) from @AtlantaFed rose 3.6% on an annualized basis in December. On a year-over-year basis, the series is up 3.1% https://t.co/AlOTN1EKU1 Fangs got hammered on Wednesday, led by Broadcom, Microsoft, Meta, Netflix, Amazon, and Nvidia. Normally, the usual suspects would be pouring into these stocks for looming results. What is wrong? ESHs traded modestly lower on Tuesday night until they from lower after 23:30 ET. ESHs declined persistently with two sharp rebound rallies that appeared near 10:00 ET and for the manipulation for the 11:30 ET European close. ESHs hit a daily low of 6923.25 (-78.50) at 11:54 ET. After bottom bumping for about 2.5 hours, ESHs moved higher after 13:45 ET and rallied on this: @business: President Donald Trump said he had been assured that Iran would stop killing protesters, in a signal he could hold off on a threatened military response to the repression of widespread demonstrations there (Another TACO or a ‘head fake?’) Trump: “We’ve been told that the killing in Iran is stopping, stopped, and stopping. And there’s no plan for executions or an execution or execution. So, I’ve been told that in good authority.” ESHs hit 6970.50 at 16:01 ET. Global central bank leaders back Fed Chair Powell amid federal investigation https://t.co/9K425K6vAw Central bankers know that they are indispensable to fiscally promiscuous western governments. So, they believe they are immune to scrutiny or regulation. The Fed is the Queen Bee; so, it must be protected. Pirro claims Powell probe would not ‘have happened’ if Fed responded to outreach Pirro said her office contacted the Fed multiple times to discuss the renovation costs and Powell’s testimony, but were ignored, which prompted legal action… https://justthenews.com/pirro-claims-powell-probe-would-not-have-happened-if-fed-responded-outreach Positive aspects of previous session Stocks rallied smartly in the afternoon. USHs were +14/32 at the NYSE close. Negative aspects of previous session Gold, silver, and copper soared to record highs – despite a downward manipulation on gold. Fangs got hammered; the DJIA and DJTA declined smartly until the afternoon rally. Ambiguous aspects of previous session Why did Fangs get hammered when they usually rally into results? First Hour/Last Hour NYSE Action [S&P 500 Index]: 1st Hour: Down; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 6917.88 Previous session S&P 500 Index High/Low: 6941.30; 6885.74 @YahooFinance: Warren Buffett is not a fan of cash. “Cash is not a good asset; you need oxygen.” https://t.co/pU62cQbIeR Yet Buffett hold $382B of T-Bills, which is commonly called ‘a cash equivalent.’ Old timers might recall how St. Warren used to inveigh against derivatives (“Financial weapons of mass destruction”) but regularly shorted puts. How Warren Buffett Trades Options: The Oracle of Omaha’s Secret Strategy He only sells put options on businesses or indices… Buffett has expressed concerns about derivatives, famously calling them “financial weapons of mass destruction” in 2002 due to their complexity and systemic risks. However, in his 2008 letter, he clarified that Berkshire’s contracts were thoughtfully selected, stating: “If we lose money on our derivatives, it will be my fault”… https://optionsjive.com/blog/how-warren-buffett-trades-options-the-oracle-of-omahas-secret-strategy/ @julie_kelly2: Big win for election integrity at SCOTUS this morning. In a 7-2 opinion written by Chief Justice John Roberts, the court determined Congressman Mike Bost has standing to challenge Illinois’ mail-in ballot rule that allows for the counting of votes up to two weeks after Election Day. Lower courts had tossed Bost’s lawsuit arguing he did not have standing to sue the state for violating federal election law. Roberts also had some telling words about the need to ensure elections are legit and earn the confidence of the voters. https://x.com/julie_kelly2/status/2011467437321978354 It is unfathomable that the two whacko leftist justices did NOT believe that a candidate has ‘standing’ to question or sue over his/her election results. @DC_Draino: Almost every 2020 election fraud lawsuit was dismissed by corrupt courts b/c the plaintiffs lacked “standing”. None of the evidence was able to even be introduced. Now SCOTUS has ruled that candidates have standing to sue for election fraud. The Dem scam machine is crumbling. @JeanneIves: It’s shameful that this case had to reach SCOTUS just to determine standing. The idea that a candidate for office doesn’t have the right to sue over an election law because it didn’t affect them is absurd. Now the case goes back down the chain and likely back up to rule on the meat of the case – that Illinois can’t count ballots past election day. Right now, they keep counting for 14 days past the election. Yes- the excessive days to count ballots absolutely invites fraud and must stop. Prof @EVKontorovich: A forever war is exactly what we’ve had with Iran since the Islamic Revolution kicked off by taking hundreds of Americans hostage; followed by blowing up the Marines in Beirut; a naval conflict in the late 80s; supporting Shia militias in Iraq who killed hundreds of GIs in the 2000s, up to the attempted assassinations of senior American leaders in recent years. This is the forever war we already have. Now there is a chance to end it. Danish intel warned last year about Russian and Chinese military goals toward Greenland and Arctic – Denmark’s politicians are downplaying Trump’s claims of Russian and Chinese threats to Greenland. But Danish intelligence warned about Russia and China in stark terms. https://justthenews.com/government/security/danish-intel-warned-about-russian-and-chinese-military-ambitions-toward DHS employee leaks sensitive information on thousands of ICE, Border Patrol agents: Report The leak included the names, work emails, telephone numbers and roles of the agents, but not all information has been posted yet as the website works to verify the information and that it is current. https://justthenews.com/dhs-whistleblower-leaks-sensitive-information-thousands-ice-border-patrol-agents-report Widespread Verizon outage prompts emergency alerts in Washington, New York City New York State Assembly member Anil Beephan has called on the Federal Communications Commission to investigate the hours-long service outage… (Rumors say it was a terrorist attack on cell towers.) https://www.nbcnews.com/business/consumer/verizon-outage-new-york-washington-rcna254050 Iran issues sickening assassination threat against Trump: ‘This time it will not miss the target’ https://nypost.com/2026/01/14/world-news/iran-issues-sickening-assassination-threat-against-trump-this-time-it-will-not-miss-the-target/ @FaytuksNetwork: Iran FM Abbas Araghchi to Trump: “Don’t make the same mistake you made in June. You failed in June, and you’ll get the same result.” @Osint613: Iranian Foreign Minister Abbas Araghchi: Iran has “every right” to pursue nuclear enrichment, stressing that the program is intended for “peaceful purposes.” Today – Traders remain extremely bullish even though geopolitical turmoil has thwarted the earnings season rally this week. Barring news, traders will play for the TACO Rally that commenced yesterday afternoon when Trump said Iran executions have stopped. @sentdefender: Reports of fighter jets heard over Eastern Iraq. Heavy aircraft activity also heard by residents within the last half hour over Northern Israel and Southern Syria… The Pentagon has ordered the USS Abraham Lincoln (CVN-72) and her Carrier Strike Group, consisting of the Arleigh Burke-class guided-missile destroyers; USS Spruance (DDG-111), USS Michael Murphy (DDG-112), and USS Frank E. Petersen, Jr. (DDG-121), to depart their current position in the South China Sea and steam towards the Middle East. @Osint613: The Lincoln will get to the Middle East in about 6-7 days. Whatever happens, happens before it gets here. @visegrad24: Iran has closed its airspace and moved to heightened readiness. Iranian air defense command has been ordered to “immediately engage” any aircraft entering Iran’s airspace without prior identification. @no_itsmyturn: Iranian airspace remains empty except for 2 Mahan Air (from China) flights to Tehran. ESHs are -5.00; NQHs are -17.50; Feb AU is -30.40; and USHs are +2/32 at 20:45 ET. Expected Earnings: GS 11.48, BLK 12.63, MS 2.41, JBHT 1.80 Expected Economic Data: Jan Phil Fed Business Outlook -1.0; Initial Jobless Claims 215k, Continuing Claims 1.899m; Nov Import Price Index -0.2% m/m & -0.1% y/y; Ex-Petro 0.0% m/m; Export Price Index 0.0% m/m; Atlanta Fed Pres Bostic 8:35 ET, Gov Barr 9:15 ET, Richmond Fed Pres Barkin 12:40 ET, KC Fed Pres Schmid 13:30 ET S&P Index 50-day MA: 6825; 100-day MA: 6732; 150-day MA: 6575; 200-day MA: 6343 DJIA 50-day MA: 47,889; 100-day MA: 47,059; 150-day MA: 46,060; 200-day MA: 44,828 (Green is positive slope; Red is negative slope) S&P 500 Index (6926.60 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 6897.28 triggers a sell signal Hourly: Trender and MACD are negative – a close above 6929.00 triggers a buy signal @CBSNews: The ICE agent who fatally shot Renee Good on Jan. 7 in Minneapolis, Jonathan Ross, suffered internal bleeding to the torso following the incident, according to two U.S. officials briefed on his medical condition. (The usual suspects are whacko left livid at CBS for reporting these facts!) @FoxNews: TIM WALZ: “If you see these ICE agents in your neighborhood, take out that phone and hit record.” “Help us create a database of the atrocities against Minnesotans, not just to establish a record for posterity, but to bank evidence for future prosecution… Armed, masked, undertrained ICE officers are going door to door now and ordering people to point out where their neighbors of color live…: https://x.com/FoxNews/status/2011608882892906556 https://x.com/EndWokeness/status/2011612475809284188 In his TV address, Minnesota Gov Walz looked terrified. Is he fomenting hate, riots, and bloodshed as a distraction and deterrent to his prosecution for massive fraud? @CrimeWatchMpls: North Minneapolis – Before 7 p.m., SHOOTING. Two people shot in the legs. 6xx 24th Ave N, Feds were reported to be in the area, but not confirmed… We’re told ICE agents were attacked by someone with a shovel. (Soon after Walz’s address!) @ShannonArmenis: 35% of Minnesota’s budget is comprised from Federal funding. As of November, Minnesota’s budget was projected to have a $2.5 billion surplus with 35% funded through the federal government. The problem with this projection is that it does not account for the Federal funds budgeted to Minnesota which have now been halted by the Federal government. Nor does it account for the current billions of Federal dollars in childcare and healthcare fraud currently being uncovered in Minnesota, which will need to be paid back per the American Rescue Act Bill. Nor does it account for the Federal funds Trump has now announced will be cut off from all designated “sanctuary states” on February 1st – oddly enough just in time for Minnesota’s February Budget Forecast Report release… His most recent EO… is an Executive Order telling the National Guard to “get ready.” It doesn’t activate them, it says the activation will occur at a later date… Why would he delay it? He can’t afford to activate the National Guard, he doesn’t have the money. He needs the NG to be activated under Title 32 or Title 10 because he can’t afford to pay them… https://x.com/ShannonArmenis/status/2011608424786567246 @mazemoore: May 2016. CNN does a segment entitled “A Day with ICE in a so-called Sanctuary City.” CNN literally rode around with ICE from the break of dawn until nighttime, watching while ICE conducted raids and arrested illegals. ICE arrested some right at their jobs. CNN was not criticizing ICE. They were celebrating ICE. It was “exclusive access” during the Obama years and CNN considered it a privilege to get to watch ICE work. ICE even made a “mistake” arrest. CNN had no problem with it. Six months later Trump won the election and ICE was then labeled the gestapo. https://t.co/flqdHarRO7 Where were the protestors when Obama unleashed ICE and was hailed as “The Deporter in Chief?” @paulsperry_: Records show that when the Biden State Dept recommended in 2021 a Special Immigrant Visa for the Afghan immigrant charged w/ shooting two National Guardsmen in D.C., it claimed it was “confident that Rahmanullah poses no threat to the national security of the United States.” FBI whistleblower @RealStevefriend: The Arctic Frost supervisor still works for the FBI. @PamBondi and @Kash_Patel aren’t “failing.” These are deliberate decisions. @Savsays: Reminder that within 3 months of having control of the DOJ, the Biden admin arrested over 750+ Americans for J6th. Yet we still have not seen mass arrests of ANTIFA members or early morning raids of the leftists actively calling to kill their political opposition GOP Sen. Rand Paul claims Trump’s DOJ ‘still’ hasn’t acted on his criminal referral of Fauci https://t.co/TgzAvzAitt @barnes_law: Common theme: the biggest saboteur of the Trump agenda — whether it be accountability over Covid, J6, Epstein, Russiagate, NGO immigration obstruction/riot sponsors/fraud, taking on monopolies to help affordability & stop Big Tech — is Pam Bondi. Her firing is essential. Las Vegas man convicted of fatal abuse of girlfriend’s 17-month-old son is sentenced to PROBATION https://t.co/JgdoLadwBN (Suicidal Empathy for criminals is a very destructive disease!) @ScottHughesCBB: St. John’s has fired GM Matt Abdelmassih after an internal investigation found that he had embezzled more than $1 million in NIL funds, of which $250,000 went to Andrew Cuomo’s New York City mayoral campaign. https://twitter.com/ScottHughesCBB/status/2011242929420128736?s=02 @breaking911: Ruby Corado, founder of LGBTQ+ nonprofit Casa Ruby, sentenced to over 2 years in prison and ordered to pay $956,215 in stolen Covid-relief funds https://x.com/Breaking911/status/2011198632180297836 Social media teems with reports of fraudulent dealings in the gold ole USA! @gekaminsky: The White House’s pledge for investigations into liberal nonprofits has stalled over GOP donor backlash/legal constraints—as officials concede in private talks that going after Soros et al., may push Dems to attack likes of Heritage/cons in future. https://t.co/KabliLGwPy @EricLDaugh: This actually just happened on Capitol Hill. SEN. JOSH HAWLEY: “Can men get pregnant?” LIBERAL DR. VERMA: “I’m not sure what the goal of the question is.” HAWLEY: “The goal is to establish a biological reality. Can men get pregnant?” VERMA: “I take care of people with many identities.” HAWLEY: “Can men get pregnant?” VERMA: “Again, as I’m saying-“ HAWLEY: “You said science and evidence should control. Can men get pregnant? You’re a doctor, I think.” VERMA: “Science and evidence should guide medicine.” HAWLEY: “Do science and evidence tell us that men can get pregnant?” VERMA: “I think yes-no questions like this are a political tool.” https://x.com/EricLDaugh/status/2011485172768632969 We have received an historic inflection point whereby US leftists, even an ‘expert witness’ doctor, cannot admit that men cannot get pregnant! Think about this and its ramifications! @libsoftiktok: “For CISgender girls, they can play consistent with their gender identity. For transgender girls, they can’t.” – Ketanji Brown Jackson There’s no such thing as “cisgender.” It’s a made-up leftist term to demean actual women. https://t.co/MbHvfT3wxQ @ClayTravis: Listen to how ridiculous Ketanji Brown Jackson sounds when she tries to discuss what a woman is. She embarrasses herself in every oral argument. https://t.co/2K0jmVHCBl @greg_price11: Ketanji Brown-Jackson: “We are now looking at the definition of a girl and we’re saying only people who were girl-assigned at birth qualify.” Uhhh yes. https://x.com/greg_price11/status/2011181040514056399 Pundits, including legal eagles, littered X with remarks about how insanely idiotic Justice Jackson is. @DeAngelisCorey: The Chicago Teachers Union doesn’t know how to spell “Governor.” (In an ad the CTU wrote ‘Governer Pritzker.’ Who wrote & who edited the ad?) https://t.co/FLJAJz3AbQ FBI searches home of Washington Post reporter, Fox News confirms The FBI executed a search warrant on Washington Post reporter Hannah Natanson’s home on Wednesday as part of a probe into “a government contractor accused of illegally retaining classified government materials,” the paper announced… Perez-Lugones is accused of using databases and repositories to search for, access and view a classified intelligence report related to a foreign country. He is accused of taking a screenshot of the report and printing it… Attorney General Pamela Bondi addressed the search on social media. “This past week, at the request of the Department of War, the Department of Justice and FBI executed a search warrant at the home of a Washington Post journalist who was obtaining and reporting classified and illegally leaked information from a Pentagon contractor. The leaker is currently behind bars… https://www.foxnews.com/media/washington-post-reporters-home-searched-by-fbi Prof @MichaelRapp: Niall Ferguson: Let it never be forgotten that, in The New York Times on February 16, 1979, the Princeton professor Richard Falk confidently asserted: “The depiction of [the Ayatollah Khomeini] as fanatical, reactionary, and the bearer of crude prejudices seems certainly and happily false. What is also encouraging is that his entourage of close advisers is uniformly composed of moderate, progressive individuals.” Moreover, “the key appointees” in the new revolutionary government had “a notable record of concern for human rights and seem eager to achieve economic development that results in a modern society oriented on satisfying the whole population’s basic needs.” “Having created a new model of popular revolution based, for the most part, on nonviolent tactics,” Falk gushed, “Iran may yet provide us with a desperately needed model of humane governance for a third‐world country.”… https://x.com/MichaelRapp/status/2011478129966285106 @drew_ponder: James Webb Breaks the Model: The Universe Isn’t Behaving as Expected The James Webb Space Telescope is delivering observations that do not fit the Standard Model of cosmology. Galaxy formation is happening too early, cosmic expansion behaves inconsistently across time, and dark matter and dark energy look increasingly like placeholders. This is not a minor tweak problem. It is a foundational failure signaling missing physics… Modern cosmology rests on three fragile pillars: 1. General Relativity at all scales 2. Particle-based dark matter 3. A cosmological constant (dark energy) Webb is effectively stress-testing all three at once—and they are cracking. The current model assumes spacetime is a passive stage and matter-energy are the actors. Webb’s data suggests the opposite: spacetime itself is dynamic, structured, and active in ways not captured by Einstein’s equations or quantum field theory… It means: The vacuum is not empty. •Spacetime is not smooth. •Expansion is not uniform. •Gravity may not be fundamental. The universe behaves less like a machine made of parts and more like a self-organizing field with internal modes, pressures, and resonances… https://x.com/drew_ponder/status/2011558798360707227 @AstronomyVibes: In a new quantum experiment, scientists saw something that challenges everything we think we know about time. Instead of flowing forward like a river, time seemed to loop and fold back on itself. Particles behaved as if their future could affect their past, blurring the line between cause and effect in ways that defy ordinary understanding. This strange behavior was observed through quantum entanglement a phenomenon where two particles remain mysteriously linked, no matter how far apart they are. When scientists changed how they measured one particle, it seemed to alter the history of its partner retroactively. It’s as if “now” and “then” exist together, constantly reshaping each other in a single, connected moment. The findings hint that time may not be a one-way path but a flexible structure that bends and connects distant events. Your choices don’t rewrite your past, but on a quantum level, the universe might not follow the rules of linear order at all. Reality could be stranger than we’ve ever imagined… @SamaHoole: 1949: DuPont Corporation has a problem. Their executives are fat. The company doctors have tried everything – calorie restriction, exercise programs, metabolic testing. The executives lose some weight temporarily, then regain it plus more. Dr. Alfred Pennington is brought in to solve this… Instead of restricting calories, he restricts carbohydrates. The executives can eat unlimited meat and fat. Steaks, roasts, butter, cream, eggs. No bread, no sugar, no potatoes… Within months, the average weight loss is 22 pounds per executive. No hunger, no calorie counting, no misery. They’re eating more satisfying food than before and losing weight consistently. Pennington publishes the results in the New England Journal of Medicine, 1953. The paper is titled “Treatment of Obesity with Calorically Unrestricted Diets.” His conclusion: Obesity isn’t caused by eating too much food, it’s caused by eating too much carbohydrate… Then Ancel Keys publishes his fat hypothesis. Saturated fat causes heart disease. Suddenly Pennington’s approach is considered dangerous despite the clinical success. The focus shifts to low-fat calorie restriction… https://x.com/SamaHoole/status/2011001733871185995 @27khv: France now spends 57.2% of its GDP through the state. A higher share than the USSR in 1990, just a year before it collapsed. Astonishing. (US 37.6%) https://x.com/27khv/status/2011156606151774257 | |
SWAMP STORIES FOR YOU TONIGHT
Stephen Miller: Feds Have Begun Work Of ‘Identifying, Disrupting And Dismantling The Insurgent Networks’ In Minnesota
Wednesday, Jan 14, 2026 – 09:30 PM
Authored by Debra Heine via American Greatness,
Stephen Miller, a top White House official, said Tuesday evening that federal law enforcement now has the resources to protect its officers and begin the work of “identifying, disrupting and dismantling the insurgent networks” hampering Immigration and Customs Enforcement (ICE) operations in Minnesota.
Miller’s message came after President Trump released a statement on Truth Social earlier Tuesday, saying: “FEAR NOT, GREAT PEOPLE OF MINNESOTA, THE DAY OF RECKONING & RETRIBUTION IS COMING!”
The Department of Homeland Security (DHS) launched a large-scale deployment of federal agents to Minneapolis and St. Paul in early January 2026, deploying approximately 2,000 federal agents from ICE, Customs and Border Protection (CBP), and Homeland Security Investigations (HSI) under an operation dubbed “Operation Metro Surge.”
President Trump ordered an additional 1,000 CBP agents to deploy to the Twin cities, potentially bringing the total to approximately 3,000 federal personnel there to conduct immigration enforcement operations amidst the violent left-wing insurgency.
Miller delivered an encouraging message to these federal officers during an appearance on Fox News’ Will Cain Show, Tuesday evening:
“You have federal immunity in the conduct of your duties. Anybody who lays a hand on you or tries to stop you or tries to obstruct you is committing a felony, he stated. “You have immunity to perform your duties, and no one—no city official, no state official, no illegal alien, no leftist agitator or domestic insurrectionist—can prevent you from fulfilling your legal obligations and duties. The Department of Justice has made clear that if officials cross that line into obstruction, into criminal conspiracy against the United States or against ICE officers, then they will face justice.”
During a later appearance on Fox News’ Ingraham Angle, Miller described the ongoing anti-ICE riots in the Twin Cities as “a sophisticated insurgency,” and “domestic terrorism.”
“Mayor Jacob Frey, Governor Tim Walz, and Attorney General Keith Ellison have deliberately, willfully and purposefully incited this violent insurgency against Immigration and Customs Enforcement, and against Border Patrol, he said.
Miller blasted the state’s Democrat leaders for enabling the crazed chaos for partisan ends.
When you have mayors and state leaders say that they’re going to order federal law enforcement out of their city in order to maintain enclaves of criminal illegal aliens and criminal refugees who are looting and pillaging the state and the American people. When you have them effectively banning the city police and the state police from rendering life-saving aid to ICE officers, from rendering necessary protection and support to the federal government when it is under siege while carrying out these operations, that is a direct attack and assault on our federal government.
Miller pointed out that the insurgents are highly coordinated operators who attempt to free arrestees by tracking ICE operations through spotters and blocking their vehicles.
“Then they dox ICE officers. They follow them home, they follow them to where they sleep at night,” he said.
“It’s a sophisticated insurgency involving a large number of radicalized extremist, violent leftwing operators stoked by the Democrat party,” Miller continued.
According to the Washington Free Beacon, the insurgency is being organized by the Sunrise Movement, a far left political action organization that “has shifted from climate activism into anti-ICE agitation in Minneapolis-St. Paul.”
Sunrise operatives on the ground in the Twin Cities are circulating lists of hotels housing ICE agents and coordinating late-night disruption campaigns—often involving noisemakers—aimed at coercing hotels and other local businesses into refusing to serve ICE personnel.
Sunrise has received $2 million from Open Society since 2019, $150,000 from Ford in 2024 and $550,000 in 2025, and $250,000 from MacArthur in 2024, according to grant databases and tax filings.
Sunrise Twin Cities works alongside two other local groups—Unidos MN and Defend the 612—known for “rapid response” efforts in which activists are dispatched to the scene of ICE activity.
Both maintain ties to MN ICE Watch, a covertly maintained Instagram page that posts training slides calling on its followers—a group that reportedly included Renee Good’s wife—to block, push, and otherwise obstruct officers making an arrest.
Miller told Ingraham that resources and strategies are in place now to deal with the insurgents.
“There has already been, in the recent days, a huge increase in arrests of domestic insurgents, but those numbers are going to increase,” he said.
“Americans voted in a landslide to uphold the sovereignty of this country, he added. “Americans by overwhelming majorities oppose mass Somali fraud. Americans by overwhelming majorities oppose Somali refugee resettlement in principle, so the public is behind this.”
In his Truth Social post Tuesday morning, Trump said:
Do the people of Minnesota really want to live in a community in which there are thousands of already convicted murderers, drug dealers and addicts, rapists, violent released and escaped prisoners, dangerous people from foreign mental institutions and insane asylums, and other deadly criminals too dangerous to even mention. All the patriots of ICE want to do is remove them from your neighborhood and send them back to the prisons and mental institutions from where they came, most in foreign Countries who illegally entered the USA though Sleepy Joe Biden’s HORRIBLE Open Border’s Policy. Every place we go, crime comes down. In Chicago, despite a weak and incompetent Governor and Mayor fighting us all the way, a big improvement was made. Thousands of Criminals were removed! Minnesota Democrats love the unrest that anarchists and professional agitators are causing because it gets the spotlight off of the 19 Billion Dollars that was stolen by really bad and deranged people. FEAR NOT, GREAT PEOPLE OF MINNESOTA, THE DAY OF RECKONING & RETRIBUTION IS COMING!
Later Tuesday, Trump announced on Truth Social that the federal government will no longer fund states with sanctuary policies protecting illegal immigrants.
“EFFECTIVE FEBRUARY FIRST, NO MORE PAYMENTS WILL BE MADE BY THE FEDERAL GOVERNMENT TO STATES FOR THEIR CORRUPT CRIMINAL PROTECTION CENTERS KNOWN AS SANCTUARY CITIES. ALL THEY DO IS BREED CRIME AND VIOLENCE! If States want them, they will have to pay for them! MAKE AMERICA GREAT AGAIN!!!” he said.
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Trump Threatens To Invoke Insurrection Act As Left-Wing Chaos In Minneapolis Spreads
Thursday, Jan 15, 2026 – 10:24 AM
Update (1024ET):
In response to overnight left-wing chaos, what can only be described as the Democratic Party’s “George Floyd 2.0” attempt, President Trump wrote on Truth Social about the very real possibility of invoking the Insurrection Act.
“If the corrupt politicians of Minnesota don’t obey the law and stop the professional agitators and insurrectionists from attacking the Patriots of I.C.E., who are only trying to do their job, I will institute the INSURRECTION ACT, which many Presidents have done before me, and quickly put an end to the travesty that is taking place in that once great State,” Trump warned.
The warning from Trump comes after left-wing nonprofits and far-left militant groups mobilized in the metro area in the last week after a “legal observer” was shot and killed. These left-wing groups have been positioned to mount a pressure campaign against federal agents, seeking to disrupt deportation operations targeting criminal illegal aliens (or the Democrat Party’s future voting bloc).
The Insurrection Act would allow Trump to deploy active-duty military forces or federalize the National Guard within the Democratic-run state to restore order as Democrats allow left-wing groups to go rogue. The act has not been invoked since the 1992 Los Angeles riots.
This is a legal nuclear option to restore order after left-wing rioters last night looted federal vehicles, stole weapons and ammunition, and after an incident in which an ICE agent shot an illegal during a violent confrontation with the agent.
Potential invocation of the Insurrection Act represents a significant shift in the federal civil-military posture of the Trump administration, as left-wing orgs mount a fight. Perhaps it’s time for the Trump administration to leave flank these orgs and begin an assault across the funding networks within the nonprofit world.
* * *
Left-Wing Chaos Continues In Minneapolis As Federal Vehicles Looted
Thursday, Jan 15, 2026 – 07:35 AM
The killing of the left-wing activist (legal observer) by an ICE agent in Minneapolis has become the catalyst that Democratic Party-aligned dark-money-funded NGOs and militant far-left groups have been waiting for to spark street chaos, hoping to shift public sentiment toward defunding ICE. This is an informational war that Democrats are seeking to win, and in doing so, they need riots – think of it as “George Floyd 2.0″ …
Overnight, social unrest emerged in the seemingly lawless sanctuary city of Minneapolis when street protests by left-wing groups quickly accelerated into riots and looting of at least one federal vehicle that had a long rifle and ammunition inside.
More footage:
Instead of demanding that criminal illegal aliens leave, Democrats who run the metro area have posted on the city’s official X account, demanding that ICE agents leave the town.
In a separate incident, Homeland Security said an ICE agent shot an illegal in the leg after the “subject began to resist and violently assault the officer.” Then the agency said the officer was “ambushed and attacked by two individuals, the original subject got loose and began striking the officer with a shovel or broom stick… “
The origin of the chaos is mostly manufactured and began hours after the legal observer was shot and killed last Wednesday:
- Minneapolis ICE Shooting Shows Left Wing’s Protest Industrial Complex Wants Another ‘George Floyd’-Type Riot
- Tim Walz Activates Emergency Operations Center, Alerts National Guard After ICE-Involved Shooting Sparks Protest Threat
Democrats are using the manufactured chaos, think of it as George Floyd 2.0, in an attempt to sway public opinion polls about Trump’s deportation policies. As Trump strips power from Democrats and the party’s unhinged left watches its illegal alien voter bloc get deported, those with their backs against the wall increasingly see violence as the only remaining option. Just wait until spring.
end
Watch: This Is Just Absolutely Insane
by Tyler Durden
Thursday, Jan 15, 2026 – 08:50 AM
Authored by Steve Watson via Modernity.news,
In an incredible Senate hearing meant to address the dangers of abortion pills sold online without proper oversight, a Democratic witness turned the spotlight on herself by refusing to acknowledge that only women can get pregnant.
Dr. Nisha Verma, an OB-GYN tapped by Democrats, evaded direct questions from Republicans, prioritizing “identities” over scientific fact. This exchange highlights how insane woke ideology has infiltrated even medical testimony, undermining protections for women and enabling potential abuse through lax regulations on chemical abortions.
The hearing exposed real risks, like men coercing women into abortions by easily obtaining pills online—no in-person checks required. Yet Verma couldn’t—or wouldn’t—affirm basic truths, leaving observers questioning how such “experts” hold medical licenses in the first place.
The Senate Health, Education, Labor and Pensions Committee convened on Wednesday to examine the safety of mifepristone, the abortion pill increasingly distributed via mail and telehealth.
Republicans highlighted cases of coercion, including one where a male physician forced pills on his girlfriend after she refused a spiked drink. Senators also shared stories of abusive partners exploiting online access to these drugs, with one staffer nearly ordering pills under a male name like “Michael” to prove the point.
But it was an unbelievable exchange between Senator Josh Hawley and Dr. Nisha Verma that garnered all the attention. Verma serves as a senior advisor to Physicians for Reproductive Health, an organization advocating for abortion access. She’s a board-certified OB-GYN and abortion provider who has testified before Congress previously.
According to her profile, Verma is also a medical school professor, but her reluctance to address straightforward biology raises serious doubts about her adherence to evidence-based medicine. It’s a stark example of ideology trumping science.
The fireworks started when Sen. Ashley Moody (R-FL) pressed Verma on the risks of men obtaining abortion pills to harm women. “Can men get pregnant?” Moody asked.
Verma responded, “I treat people with many identities.”
Unsatisfied, Hawley (R-MO) took over, repeatedly seeking clarity. “Can men get pregnant?” Hawley demanded.
“I’m not sure what the goal of the question is,” Verma replied.
Hawley clarified: “The goal is to establish a biological reality. Can men get pregnant?”
Verma doubled down: “I take care of people with many identities.”
Hawley persisted: “Can men get pregnant?”
“Again, as I’m saying-” Verma began, before Hawley interjected: “You said science and evidence should control. Can men get pregnant? You’re a doctor, I think.”
“Science and evidence should guide medicine,” Verma said.
Hawley pushed: “Do science and evidence tell us that men can get pregnant?”
“I think yes-no questions like this are a political tool,” Verma answered, calling Hawley’s line of questioning “polarizing.”
Hawley fired back: “It is not polarizing to say that women are a biological reality and should be treated and protected as such; that is truth.”
He later added that it “is deeply corrosive to science, to public trust and yes, to constitutional protections for women as women” not to acknowledge that only biological females can get pregnant.
This isn’t the first time leftist witnesses have twisted biology in abortion hearings.
But Verma’s evasions stand out as particularly egregious.
Episodes like this underscore the left’s detachment from reality, where protecting women from exploitation takes a backseat to appeasing radical activists. Biological facts aren’t negotiable—they’re essential to safeguarding freedom and common sense. If we let ideology override science, we risk more than just hearings; we risk the very foundations of truth in our society.
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
end
finally the case is nuked: what took them so long!!
Georgia Prosecutor Nukes Trump’s Election Interference Case That Fani Fumbled
Wednesday, Nov 26, 2025 – 12:00 PM
Less than two weeks after a Georgia prosecutor took control of the 2020 election interference case against President Trump and several allies (the one Fani Willis fumbled), the case has been officially dropped.
“Given the complexity of the legal issues at hand – ranging from constitutional questions and the Supremacy Clause to immunity, jurisdiction, venue, speedy-trial concerns, and access to federal records – and even assuming each of these issues were resolved in the State’s favor, bringing this case before a jury in 2029, 2030, or even 2031 would be nothing short of a remarkable feat,” wrote Peter Skandalakis, executive director of the nonpartisan Prosecuting Attorneys’ Council of Georgia who was tasked with finding a new prosecutor to take on the case after Willis was removed by the Georgia appellate court.
This adds to the pile of Democrat lawfare cases that have blown up in their faces, including those brought by special counsel Jack Smith on election interference and mishandling of classified documents.
Skandalakis said that while he considered severing Trump’s case from his codefendants so they could be tried first, doing so “would be both illogical and unduly burdensome and costly for the State and for Fulton County.”
The Georgia case was brought by Willis in early 2021 after a January phone call became public in which Trump expressed frustration with Georgia Secretary of State Brad Raffensperger amid reports of ballots cast for Joe Biden which had been mysteriously ‘found.’ When Trump asked him to similarly ‘find’ votes for him, Democrats used it as the foundation of the case.
Willis, as we all know, tanked the case after it came out that she hired her lover to help prosecute the case – which Democrats viewed as their best chance to go to trial because it was handled by a local Georgia prosecutor vs. federal charges which could be pardoned.
GREG HUNTER,,,
harveyorganblog.com 
