EXCHANGE: COMEX
CONTRACT: AUGUST 2026 COMEX 100 GOLD FUTURES
SETTLEMENT: 4,361.800000000 USD
INTENT DATE: 08/10/2026 DELIVERY DATE: 08/12/2026
FIRM ORG FIRM NAME ISSUED STOPPED
072 H GOLDMAN 63
118 H MACQUARIE FUTURES US 3
323 C HSBC 260
332 H STANDARD CHARTERED B 12
363 H WELLS FARGO SECURITI 176
555 C BNP PARIBAS SEC CORP 272
555 H BNP PARIBAS SEC CORP 13
624 H BOFA SECURITIES 4
657 C MORGAN STANLEY 1
661 C JP MORGAN SECURITIES 28 99
732 H RBC CAP MARKETS 20
905 C ADM 23
TOTAL: 487 487
MONTH TO DATE: 15,903
GOLD: NUMBER OF NOTICES FILED FOR AUGUST/2026: 487 CONTRACTs NOTICES FOR 48,700 OZ or 1.515 TONNES
total notices so far: 15,903 contracts FOR 1,590,300 OZ OR 49.46TONNES
SILVER NOTICES: 20 NOTICE(S) FILED FOR 0.100 MILLION OZ /
total number of notices filed so far this month : 1395 CONTRACTS (NOTICES) for 6.975 million oz
GLD
INITIAL STANDING FOR JANUARY: 22.915 MILLION OZ FOLLOWED BY TODAY’S 1.185 MILLION OZ QUEUE JUMP//NEW NORMAL STANDING ADVANCES TO 49.445 MILLION OZ// TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK FOR .100 MILLION OZ//NEW STANDING ADVANCES TO 49.545 MILLION OZ!!
INTIAL STANDING FOR FEBRUARY/SILVER: 13.505 MILLION OZ FOLLOWED BY TODAY’S HUGE 0.005 MILLION OZ QUEUE JUMP / : NEW STANDING FOR SILVER AT THE COMEX ADVANCES TO 25.180 MILLION OZ. BUT WE MUST ADD OUR FIRST EXCHANGE FOR RISK OF 25 CONTRACTS FOR .125 MILLION OZ AND THEN OUR SECOND EXCHANGE FOR RISK OF .0600 MILLION OZ TO OUR THIRD HUGE 2.825 MILLION OZ EXCHANGE FOR RISK!!
INITIAL STANDING FOR MARCH: A SURPRISINGLY LOW 31.076 MILLION OZ/ FOLLOWED BY A TINY QUEUE JUMP OF XX CONTRACTS OR XXX OZ/NEW STANDING ADVANCES TO 46.060 MILLION OZ
INITIAL STANDING FOR APRIL: 7.120 MILLION OZ FOLLOWED BY TODAY’S 1 CONTRACT QUEUE JUMP WHERE 5,000 OZ WILL TAKE DELIVERY OVER ON THIS SIDE OF THE POND. NEW STANDING FOR SILVER AT THE COMEX THUS ADVANCES SLIGHTLY TO 16.565 MILLION OZ PLUS WE MUST ADD OUR 4TH EXCHANGE FOR RISK ISSUANCE OF 17 CONTRACTS OR 0.085 MILLION OZ. THESE WILL BE ADDED TO OUR OTHER 3 ISSUANCES //NEW TOTAL EXCHANGE FOR RISK//1.165 MILLION OZ// NEW TOTAL SILVER STANDING 17.730 MILLION OZ//
INITIAL STANDING FOR MAY: 31.495 MILLION OZ FOLLOWED BY ANOTHER 3 CONTRACT EXCHANGE FOR PHYSICAL JUMP TO LONDON FOR 0.015 MILLION OZ// AND THEN TO BOOT WE HAD OUR FIRST EXCHANGE FOR RISK ISSUANCE FOR 51 CONTRACTS OR 255,000 OZ MAY 21./STANDING BEFORE EXCHANGE FOR RISK: 32.070 MILLION OZ/NEW STANDING THUS REDUCES TO 32.325 MILLION OZ/.//(32.070 MILLION OZ NORMAL STANDING PLUS .255 MILLION OZ EXCHANGE FOR RISK = 32.325 MILLION OZ)
JUNE INITIAL STANDING FOR SILVER:10.935 MILLION OZ TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 10,000 OZ//NEW STANDING ADVANCES TO 12.970 MILLION OZ// TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK OF 20 CONTRACTS FOR 100,000 OZ//NEW STANDING ADVANCES TO 13.070 MILLION OZ. (IN EXCHANGE FOR RISK THE BUYER ASSUMES THE RISK AND ONLY A CENTRAL BANK WOULD TAKE THAT RISK. THE BUYER IS PROBABLY THE CENTRAL BANK OF INDIA.)
JULY INITIAL STANDING: 37.110 MILLION OZ FOLLOWED BY A 3 CONTRACT QUEUE JUMP OR 0.015MILLION STANDING ADVANCES TO 45.875 MILLION OZ///
AUGUST INITIAL STANDING 6.240 MILLION OZ FOLLOWED BY TODAY’S HUGE 59 CONTRACT QUEUE JUMP FOR 0.294 MILLION OZ//NEW STANDING ADVANCES TO 8.0360 MILLION OZ/
SUMMARY OF OUR JULY 2026 COMEX CONTRACT MONTH
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
2026:
JANUARY 2026: 134.270 MILLION OZ (WILL BE A VERY STRONG MONTH FOR EXCHANGE FOR PHYSICAL!)
FEB : 82.130 MILLION OZ
MARCH: 56.075 MILLION OZ
APRIL; 44.44 MILLION OZ//FINAL.. SMALL THIS MONTH.
MAY 59.79 MILLION OZ
JUNE. 64.065 MILLION OZ//FINAL AND FAIR SIZED THIS MONTH.
JULY: 38.335 MILLION OZ
AUGUST: 14.595 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 ADVAN
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 1.185 MILLION OZ QUEUE JUMP//NORMAL STANDING ADVANCES TO 49.445 MILLION OZ// TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK OF 0.100 MILLLION OZ//NEW STANDING ADVANCES TO 49.545 MILLION OZ
FEB: 13.399 MILLION OZ IS OUR INITIAL STANDING FOR SILVER! TO WHICH WE ADD OUR NEXT QUEUE JUMP FOR 5,000 OZ AND THEN ADD OUR 3 EXCHANGE FOR RISK FOR 3.010 MILLION OZ STANDING ADVANCES TO 28.190 MILLION OZ!!
MARCH: INITIAL AMOUNT OF SILVER STANDING IS 31.076 MILLION OZ FOLLOWED BY A FINAL 0.210 MILLION OZ QUEUE JUMP //NEW TOTAL STANDING ADVANCES TO 46.060 MILLION OZ
APRIL 2026: INITITAL AMOUNT OF SILVER STANDING 7.120 MILLION OZ FOLLOWED BY TODAY’S 5,000 OZ QUUE JUMP //NEW STANDING ADVANCES TO 16.565MILLION OZ PLUS 1.165 MILLION OZ EXCHANGE FOR RISK.NEW TOTALS 17.730 MILLION OZ
MAY: INITIAL AMOUNT OF SILVER WILLING TO STAND; 31.495 MILLION OZ/ TO WHICH WE ADD OUR NEXT EXCHANGE FOR PHYSICAL JUMP OF 15,000 OZ//NEW STANDING REDUCES TO 32.070 MILLION OZ//(FOLLOWING MANY EXCHANGE FOR PHYSICAL TRANSFERS TO LONDON DURING THIS MAY DELIVERY MONTH). THERE SEEMS TO BE A SCARCITY OF SILVER OVER AT THE COMEX). THEN WE ADD OUR FIRST EXCHANGE FOR RISK OF 51 CONTRACTS FOR 255,000 OZ//STANDING ADVANCES TO 32.325 MILLION OZ//
JUNE: INITIAL AMOUNT OF SILVER WILLING TO STAND: 10.935 MILLION OZ PLUS OUR NEXT QUEUE JUMP OF 10,000 OZ//NEW STANDING ADVANCES TO 12.960 MILLION OZ TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK OF 20 CONTRACTS FOR 100,000 OZ//NEW STANDING ADVANCES TO 13.070 MILLION OZ
JULY : INITIAL STANDING: 37.110 MILLION OZ FOLLOWED BY TODAY’S 15,000 OZ QUEUE JUMP //STANDING THUS ADVANCES TO 45.875 MILLION OZ//
AUGUST 6.240 MILLION OZ FOLLOWED BY TODAY’S 245,000 OZ QUEUE JUMP//STANDING ADVANCES TO 8.0360 MILLION OZ/
GOLD//OUTLINE
1.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.
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 0.0TONNE 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 FIRST EXCHANGE FOR PHYSICAL TRANSFER OF 0.08709 TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 30.7117TONNES //NEW TOTAL QUEUE JUMPS 30.7117//NORMAL DELIVERY OF GOLD ADVANCES TO 36.8958 TONNES TO WHICH WE ADD OUR SIX EXCHANGE FOR RISK OF 22.315 TONNES//NEW STANDING ADVANCES TO 59.2108 TONNES.
FEB; INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY: 93.567 TONNES OF GOLD TO WHICH WE ADD OUR NEXT 0.0248 TONNES 0.1555 TONNES QUEUE JUMP TO 41.2082 TONNES/ NEW NET QUEUE JUMP INCREASES TO 41.233 TONNES// AND THEN WE ADD OUR SIX EXCHANGE FOR RISK: 10,080 CONTRACTS OR 31.251 TONNES//NEW STANDING REDUCES TO 157.878 TONNES
MARCH:: INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY: 8.099 TONNES TO WHICH WE ADD TODAY’S FAIR 4600 OZ QUEUE JUMP (0.2320 TONNES) AND THEN WE ADD OUR THREE EXCHANGE FOR RISK OF 22.3818 TONNES //NEW STANDING ADVANCES TO 67.6648 TONNES/
APRIL: INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY: 52.600 TONNES FOLLOWED BY OUR 345 CONTRACT QUEUE JUMP FOR 34,500 OZ/ (1.073 TONNES)/NEW STANDING ADVANCES TO 70.286 TONNES TO WHICH WE ADD OUR 2ND EXCHANGE FOR RISK OF 1498 CONTRACTS FOR 149800 OZ OR 4.659 TONNES. THE NEW TOTAL EXCHANGE FOR RISK FOR THE MONTH OF APRIL IS 2239 CONTRACTS OR 223900 OZ OR 6.964 TONNES AND THIS WILL BE ADDED TO OUR NORMAL DELIVERY TOTALS (70.762 TONNES) TO GIVE US WHAT WILL STAND IN APRIL (77.726 TONNES)
MAY: INITIAL AMOUNT OF GOLD WILLING TO STAND: 12.24 TONNES OF GOLD TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 345 CONTRACTS OR 34500 OZ (1.073 TONNES) TO WHICH WE ADD OUR FIVE EXCHANGE FOR RISK ISSUANCES FOR 24.635 TONNES/STANDING NOW ADVANCES TO 51.554 TONNES OF GOLD.
JUNE; INITIAL AMOUNT OF GOLD WILLING TO STAND; 64.496 TONNES.(CME CORRECTED) TO WHICH WE ADD OUR NEXT EXCHANGE FOR PHYSICAL TRANSFER OF 0.0186 TONNES/NEW STANDING REDUCES TO 127.03 TONNES
JULY: INITIAL AMOUNT OF GOLD WILLING TO STAND: 23.306 TONNES TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 0.000 TONNES/ TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK 0F 0.0062 TONNES/NEW STANDING ADVANCES TO 40.824TONNES
AUGUST INITIAL STANDING 48.687 TONNES TO WHICH WE ADD OUR 2ND EXCHANGE FOR RISK OF 1.552 TONNES TO OUR FIRST 0.0715 TONNES EXCHANGE FOR RISK//NEW TOTAL EXCHANGE FOR RISK: 1.6235 AND THEN ADD OUR NEXT QUEUE JUMP OF 491 CONTRACTS OR 1.527 TONNES//STANDING ADVANCES TO 53.5955 TONNES
IN ESSENCE WE HAVE A STRONG GAIN IN TOTAL CONTRACTS IN GOLD ON THE TWO EXCHANGES OF 3,929 CONTRACTS WITH 1921 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 2008 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON.
THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 3,929 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A SMALL SIZED AND CRIMINAL 941 CONTRACTS AND THESE ISSUANCES ARE GENERALLY USED TO INITIATE A RAID WHEN CALLED .
GOLD PRICE ROSE BY $22.00
STANDING FOR THE LAST 8 MONTHS JANUARY TO AUGUST:
FINAL STANDING FOR GOLD, JANUARY CONTRACT AT 59.2108 TONNES OF GOLD
FEBRUARY: INITIAL STANDING FOR GOLD: 157.878 TONNES!! WHICH INCLUDES ALL QUEUE JUMPING, THREE EXCHANGE FOR PHYSICAL TRANSFERS TO LONDON AND OUR SIX ISSUANCES EXCHANGE FOR RISK!!
MARCH: INITIAL STANDING AT 8.099 TONNES TO WHICH WE ADD OUR FINAL DAY: 0.2320 TONNES QUEUE JUMP AND THEN ADD +22.3818 TONNES EXCHANGE FOR RISK//NEW STANDING ADVANCES TO 67.6648 TONNES
APRIL: INITIAL STANDING 52.600 TONNES PLUS 27,800 OZ QUEUE JUMP (0.8648TONNES): NEW STANDING ADVANCES TO 70.286 TONNES PLUS OUR TWO EXCHANGE FOR RISK FOR 223,900 OZ OR 6.964 TONNES/NEW FINAL STANDING: 77.726 TONNES
MAY: INITIAL AMOUNT OF GOLD WILLING TO STAND; 12.24 TONNES TO WHICH WE ADD OUR NEXT QUEUE JUMP FOR 345 CONTRACTS/34,500 OZ// 1.073 TONNES/ THEN WE MUST ADD OUR EXCHANGE FOR RISK ISSUANCE: TOTAL EXCHANGE FOR RISK MAY// 5 OCCASIONS: 24.635 TONNES///NEW FINAL STANDING NOW ADVANCES TO 51.554 TONNES
JUNE: INITIAL AMOUNT OF GOLD WILLING TO STAND: 64.496 TONNES TO WHICH WE ADD OUR NEXT EXCHANGE FOR PHYSICAL TRANSFER JUMP OF 0.0186 TONNES//NEW STANDING 127.03 TONNES//FINAL
JULY: INITIAL AMOUNT OF GOLD WILLING TO STAND: 23.306 TONNES OF GOLD TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 0.0000 TONNES/ PLUS 0.0062 TONNES EX FOR RISK///NEW STANDING FOR GOLD REMAINS AT 40.824TONNES.
AUGUST INITIAL STANDING 48.687 TONNES TO WHICH WE ADD OUR FIRST 0.0715 TONNES EXCHANGE TO OUR 2ND EXCHANGE FOR RISK = 1.552 TONNES//TOTAL FOR RISK 1.6235 TONNES TO OUR NEXT QUEUE JUMP OF 1.527 TONNES//STANDING ADVANCES TO 53.5955 TONNES
JAN. 2025: 257.919 TONNES (ISSUANCE WILL BE PRETTY GOOD THIS MONTH BUT MUCH LOWER THAN LAST MONTH)
FEB: 207.21 TONNES//EX FOR PHYSICAL ISSUANCE (WILL BE A FAIR SIZED ISSUANCE THIS MONTH)
MARCH 130.84 TONNES//QUITE SMALL THIS MONTH.
APRIL; 208.57 TONNES. 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
YEAR 2026:
JANUARY: 209.08 TONNES ( (WILL BE A STRONG MONTH FOR EXCHANGE FOR PHYSICAL)
FEB. 176.35 TONNES (WHICH IS A FAIR ISSUANCE)
MARCH: 214.67 TONNES//WILL BE STRONG ISSUANCE THIS MONTH
APRIL; 88.00 TONNES// WILL BE VERY SMALL THIS MONTH
MAY 118.430 TONNES
JUNE: 142.053 TONNES
JULY: 163.82 TONNES
AUGUST: 68.69 TONNES
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS
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 POSIT
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:
SILVER:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER ROSE BY A STRONG 405 CONTRACTS TO AN OI OF 117,826
EFP ISSUANCE 20 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 20 CONTRACTS and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 0 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 5 CONTRACTS AND ADD TO THE 20 E.FP. ISSUED
WE OBTAIN A STRONG GAIN OF 425 OI OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES WITH OUR GAIN OF $2.00
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 2.125 MILLION PAPER OZ
STANDING ADVANCES TO 8.0360 MILLION OZ
SILVER PRICE GAIN OF $1.83
2.ASIAN AFFAIRS AUGUST 11 /2025
SHANGHAI CLOSED DOWN 32.50 PTS OR 0.82%
HANG SENG CLOSED DOWN 300.49 PTS OR 1.16%
Nikkei CLOSED UP 1363.51 PTS OR 2.08%
//Australia’s all ordinaries CLOSED DOWN 0.02%
//Chinese yuan (ONSHORE) CLOSED DOWN TO 6.7462
/ OFFSHORE CLOSED DOWN AT 6.7482 Oil UP TO 84.03 dollars per barrel for WTI and BRENT UP TO 89.85 Stocks in Europe OPENED ALL RED
ONSHORE USA/ YUAN// WITH YUAN TRADING DOWN (6.7467 OFFSHORE YUAN TRADING DOWN TO 6.7481 ONSHORE YUAN TRADING ABOVE LEVEL OF OFF SHORE AND DOWN ON THE DOLLAR)// / AND THUS WEAKER/OFF SHORE YUAN TRADING DOWN AGAINST US DOLLAR/ AND THUS WEAKER
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A FAIR 1,921 CONTRACTS TO 399,623 STILL WELL ABOVE ITS NEW LOW OF 326,052 OI SET JUNE 3, CLOSE TO THE PREVIOUS ALL TIME LOW OF 345,705 SET (MAY 28) AND CLOSE TO THE PREVIOUS ALL TIME LOW IN OI OF 353,490 SET MAY 27.. PREVIOUS TO THAT THE ALL TIME LOW IN OI WAS 390,000 SET IN THE YEAR 2001 WHEN GOLD WAS TRADING $260.00. THE CME SHOULD BE PROUD OF THEMSELVES AS MANY HAVE ABANDONED THIS CROOKED ARENA!!THUS OUR NEW ALL TIME LOW OF COMEX OI HAS NOW BEEN SET AT 326,052 //JUNE 3 2026 WITH GOLD AT AN EXTREMELY HIGH $4,450.00 WHICH MAKES ABSOLUTELY NO SENSE!!!
WE HAD ZERO T.A.S. LIQUIDATION DURING MONDAY’S COMEX TRADING/. IT SEEMS THAT MANY OF THE SPECULATORS THAT HAVE NOW CONTINUED AGAIN TO BE ON THE SHORT SIDE WITH BANKERS ON THE LONG SIDE AND THESE GUYS WERE OBLITERATED YESTERDAY WHEN THE LONGS TENDERED FOR DELIVERY:
CENTRAL BANKS TENDERED THEIR NEW LONG CONTRACTS AT THE END OF THE DAY FOR PHYSICAL GOLD. YOU CAN VISUALIZE THIS WITH THE STRONG AMOUNT OF GOLD STANDING AT THE COMEX FOR THIS JULY CONTRACT MONTH!!
THE STRONG SIZED GAIN ON OUR TWO EXCHANGES (3929 CONTRACTS) OCCURRED WITH OUR GAIN IN PRICE IN GOLD (UP $22.00)
WE THUS HAD A STRONG GAIN IN OI ON BOTH OF OUR EXCHANGES (3,929 CONTRACTS), WITH OUR GAIN IN PRICE, AS WE WERE INFORMED OF A FAIR CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE EQUATING TO 2008 CONTRACTS.
THEN WE WERE NOTIFIED TODAY OF A 0 CONTRACT FOR RISK ISSUANCE IN GOLD CONTRACTS FOR 0 OZ OR 0 TONNES OF GOLD. TOTAL THUS SO FAR THIS MONTH: 523 CONTRACTS//52,300 OZ OR 1.6235 TONNES
MONTH OF MAY RECORD ISSUANCE OF EXCHANGE FOR RISK: THE HIGHEST EVER ISSUANCE!!
MAY 22 RECORDS THE HIGHEST EVER EXCHANGE FOR RISK AT 12.4416 TONNES. WE HAD OUR FIRST ISSUANCE FOR EXCHANGE FOR RISK IN THE MONTH OF MAY ON MAY 7, THEN OUR 2ND ISSUANCE FOR OUR MAY GOLD MONTH ON MAY 12. THE THIRD ON MAY 18 , THEN MAY 21 OUR 4TH ISSUANCE AND THEN FINALLY FRIDAY, OUR 5TH ISSUANCE. THIS GOLD WILL BE ADDED TO OUR NORMAL MAY DELIVERIES TO GIVE US OUR FINAL AMOUNT OF GOLD WILLING TO STAND AT THE COMEX..
HISTORY OF EXCHANGE FOR RISK ISSUANCE THIS YEAR: FEBRUARY THROUGH JULY AND AUGUST
FEBRUARY:
DURING THE MIDDLE OF THE FEBRUARY CONTRACT MONTH, WE HAD TWO IDENTICAL MONSTER 3,000 CONTRACT ISSUED FOR THE SAME 9.33 TONNES OF GOLD, AND THESE WERE THE HIGHEST EVER IN TONNAGE EVER ISSUED BY THE COMEX. ALTOGETHER THE TOTAL ISSUANCE FOR FEB TOTALLED SIX.(31.251 TONNES).
MARCH:
THURSDAY MARCH 17 WE RECEIVED ITS INITIAL 2000 CONTRACT EXCHANGE FOR RISK ISSUANCE FOR 6.22 TONNES. LAST FRIDAY: 0 ISSUANCE OF EXCHANGE FOR RISK. BUT ON MONDAY MARCH 23 WE RECEIVED NOTICE OF OUR SECOND EXCHANGE FOR RISK ISSUANCE FOR 2,200 CONTRACTS (220,000 OZ OR 6.843 TONNES) AND NOW FRIDAY WITH A MONSTER 2996 CONTRACTS FOR 9.3138 TONNES. THESE THREE ISSUANCES WILL NOW BE ADDED TO THE REGULAR AMOUNT OF GOLD STANDING, I.E. 22.3818 TONNES TO OUR NORMAL GOLD STANDING TO GIVE US WHAT WILL STAND FOR PHYSICAL GOLD FOR MARCH!
APRIL;: 2 EXCHANGE FOR RISK SO FAR, I.E. 2239 CONTRACTS FOR 223,900 OZ OR 6.964 TONNES AND THIS TOTAL TONNES WILL BE ADDED TO OUR NORMAL DELIVERY TO GIVE US WHAT WILL STAND IN APRIL
MAY: FIVE ISSUANCES SO FAR FOR 7920 CONTRACTS OR 792,000 OZ OR 24.635 TONNES.
JUNE: 0 IN GOLD. THUS FOR THE ENTIRE MONTH IN GOLD ZERO NOTICES WERE FILED.
JULY: 2 FOR 200 OZ OR 0.00622 TONNES
AUGUST: 523 CONTRACTS FOR 52300 OZ OR 1.6235 TONNES
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A LITTLE HISTORY OF EXCHANGE FOR RISK DECEMBER THROUGH TO AUGUST:
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.
MONTH OF JANUARY/EXCHANGE FOR RISK
IN JANUARY THEY HAVE 6 TOTAL ISSUANCE : 3.446 TONNES EARLY, THEN JAN 9 ISSUANCE OF 9,331 TONNES AND THEN JAN 16: 0.1996 TONNES JAN 26: 1.499 TONNES, JAN 27: 3.160 AND FINALLY JAN 29: 4.659 TONNES TONNES//TOTAL EXCHANGE FOR RISK JANUARY 22.315 TONNES WHICH WAS ADDED TO OUR NORMAL DELVERIES.
AND FEBRUARY:
FEB EXCHANGE FOR RISK: NOW 6 ISSUANCES: 10,080 CONTRACTS FOR 1,008,000 OZ OR 31.251 TONNES!
HERE ARE THE CHOICES FOR THE RECIPIENT OF THOSE ISSUANCES:
1 THE CENTRAL BANK OF ENGLAND. BUT THEY RECEIVED CLEARANCE THAT THEIR GOLD IS BACK SO IT IS NOT LIKELY THAT THEY WOULD LIKE TO ADD TO THEIR RESERVES.
2. THE CENTRAL BANK OF THE USA: THE FED. LOGICAL CHOICE AS THEY CLAMOUR TRYING TO REDUCE THEIR 146+ TONNES OF SHORTAGE. HOWEVER THEY SEEM NOT TO BE IN A HURRY TO COVER THEIR HUGE SHORTFALL
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 OF 17.656 TONNES WAS ADDED TO OUR DAILY DELIVERY TOTALS!!
FEBRUARY ISSUANCES 6 FOR; 31.251 TONNES !! AND THIS WAS ADDED TO OUR DELIVERY TOTALS FOR THIS MONTH.
MARCH: CME ANNOUNCES ITS FIRST EXCHANGE FOR RISK FOR 2000 CONTRACTS FOR 200,000 OZ OR 6.22 TONNES OF GOLD DURING THE FIRST WEEK OF MARCH, AND THEN MONDAY, MARCH 22, WE RECEIVED ITS SECOND NOTICE ISSUANCE OF 2200 CONTRACTS OR 220000 OZ (6.843 TONNES). THEN FINALLY WE RECEIVED NOTICE OF OUR THIRD EXCHANGE FOR RISK OF 2996 CONTRACTS OR 9.3188 TONNES. TOGETHER ALL 3 ISSUANCES TOTAL 22.3818 TONNES WHICH WILL BE ADDED TO OUR NORMAL DELIVERY SCHEDULE.
APRIL: 2 EXCHANGE FOR RISK SO FAR FOR 223,900 OZ OR 6.964 TONNES. AND THIS TOTAL WILL BE ADDED TO OUR NORMAL DELIVERY TO GIVE US WHAT WILL STAND FOR APRIL!!
MAY: FIVE ISSUANCES SO FAR FOR 7920 CONTRACTS, 792,000 OZ OR 24.635 TONNES OF GOLD. THIS TOTAL WILL BE ADDED TO OUR NORMAL DELIVERIES IN MAY TO GIVE US WHAT WILL STAND IN MAY.
JUNE: ZERO
JULY 2 FOR 200 OZ OR 0.00622 TONNES. I DOUBT VERY MUCH THAT THIS IS A CENTRAL BANK
AUGUST: 523 CONTRACTS FOR 52300 OZ OR 1.6235 TONNES
DETAILS ON OUR NEW AUG COMEX CONTRACT MONTH//
IN TOTAL WE HAD A STRONG GAIN ON OUR TWO EXCHANGES OF 3,929 CONTRACTS WITH OUR GAIN IN PRICE ($22.00). HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN THROUGHOUT THIS 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 THEIR 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. BOTH COMEX AND LBMA ARE WITNESSING MASSIVE AMOUNTS OF GOLD LEAVING THEIR VAULTS.
THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THE MONTHS OF JUNE/JULY/AUG CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY ALTHOUGH THE T.A.S. ISSUANCES IN GOLD HAVE GENERALLY BEEN ON THE LOW SIDE COMPARED TO SILVER WHICH HAVE BEEN HUGE. TODAY’S NUMBER HOWEVER IS A SMALL SIZED T.A.S ISSUANCE CONTRACTS .THE CME NOTIFIES US THAT THEY HAVE ISSUED 941 T.A.S CONTRACTS. THESE ARE GENERALLY USED FOR RAID PURPOSES TO STOP GOLD’S RISE AND TO TEMPER HUGE LOSSES IN OTC DERIVATIVE BETS.
IT SURE LOOKS LIKE THE BIS HAS SOMEHOW LOOKED THE OTHER WAY WITH ITS GOLD SWAPS WITH THE FRBNY AS THIS ENTITY FOR THE FED REFUSES THE BIS MARCHING ORDERS TO COVER AND THAT MAY EXPLAIN THE STRONG NUMBER OF T.A.S. ISSUANCES IN DECEMBER , JANUARY AND THROUGHOUT FEBRUARY TO GO ALONG WITH OUR HUGE NUMBER OF EXCHANGE FOR RISK ISSUED DURING THESE MONTHS INCLUDING FEBRUARY’S 6 EXCHANGE FOR RISK WHICH ALSO INCLUDED TWO MONSTER 9.3312 TONNE ISSUANCE (FEB 10 AND FEB 12). TOTAL EXCHANGE FOR RISK/FEB EQUALS 31.251 TONNES!! AND MARCH’S THREE ISSUANCES FOR 22.3818 TONNES! OTHER CENTRAL BANKS ARE PAYING ATTENTION AS THEY TAKE DELIVERY OF HUGE AMOUNTS OF PHYSICAL GOLD. APRIL HAD 2 EXCHANGE FOR RISK ISSUANCES FOR 6.694 TONNES. AND MAY WITH ITS 5TH ISSUANCE FOR 12.4436 TONNES///TOTAL EXCHANGE FOR RISK FOR MAY: 24.635 TONNES ISSUED MAY 6 ,MAY 12, MAY 18 MAY 21 AND NOW MAY 22..
THEN IT SLOWS DOWN!
JUNE: ZERO FOR THE MONTH
JULY: 2 SO FAR FOR 200 IZ IR 0.00622 TONNES
AUGUST: 523 CONTRACTS FOR 52300 OZ OR 1.6235 TONNES
WE MUST ALSO REMEMBER THAT THE FRBNY IS SHORT 146+ TONNES OF GOLD, THIS COMMENCED ON JAN 2 2023 AS THEY REFUSE TO COVER DESPITE THE BIS’S PLEA TO DO SO.
HERE IS A SUMMARY OF GOLD STANDING FOR DELIVERY ON OUR LAST 16 MONTHS:
1.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 2025
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 TONNE
SUMMARY FOR OCTOBER STANDING:
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.
DECEMBER: INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY IN THIS ACTIVE MONTH IS 83.813 TONNES FOLLOWED BY TODAY’S 0.05 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 QUEUE JUMP OF 0.000 TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 30.7117TONNES //NEW TOTAL QUEUE JUMPS 30.7117//NORMAL DELIVERY OF GOLD ADVANCES TO 36.8958 TONNES TO WHICH WE ADD OUR SIX EXCHANGE FOR RISK OF 22.315 TONNES//NEW STANDING ADVANCES TO 59.2108 TONNES.
FEBRUARY: . FEBRUARY: INITIAL STANDING: 93.566 TONNES TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 0.0248 TONNES WHICH MUST BE ADDED ALL OTHER QUEUE JUMPS OF 41.2087 TONNES QUEUE JUMP//TOTAL QUEUE JUMP FOR FEB::ADVANCES TO 41.233 TONNES///STANDING ADVANCES TO 126.628 TONNES TO WHICH WE ADD OUR SIX EXCHANGE FOR RISK OF 31.251 TONNES/NEW STANDING FINALIZES AT 157.879 TONNES, ITS HIGHEST STANDING RECORDED IN OVER 4 YEARS.
MARCH: INITIAL STANDING FOR GOLD: 8.099 TONNES TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 0.2320 TONNES AND THEN WE ADD OUR THREE EXCHANGE FOR RISK OF 22.3818 TONNES////NEW STANDING FOR GOLD ADVANCES TO: 67.6648TONNES WHICH IS ABSOLUTELY HUGE FOR A NON ACTIVE DELIVERY MONTH!!
APRIL 2026: INITIAL STANDING FOR GOLD: 52.20 TONNES FOLLOWED BY TODAY’S SMALL 500 OZ QUEUE JUMP/ TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK ISSUANCES TOTALLING 223,900 OZ OR 6.964 TONNES//STANDING ADVANCES TO 77.726 TONNES WHICH IS ABSOLUTELY HUGE
MAY: INITIAL AMOUNT OF GOLD WILLING TO STAND: 12.24 TONNES OF GOLD TO WHICH WE ADD OUR NEXT HUGE QUEUE JUMP OF 34,500 OZ (1.073 TONNES) TO WHICH WE ADD OUR FIVE EXCHANGE FOR RISK ISSUANCE FOR 792,000 OZ OR 24.635 TONNES////NEW TOTALS STANDING FOR GOLD ADVANCES TO 51.554 TONNESS
JUNE: INITIAL AMOUNT OF GOLD WILLING TO STAND: 64.496 TONNES TO WHICH WE SUBTRACT AN EXCHANGE FOR PHYSICAL TRANSFER TO LONDON OF 0.0186 TONNES//NEW STANDING REDUCES TO 127.03 TONNES// TOTAL QUEUE JUMPING FOR THE MONTH FINALIZES AT 62.4217 TONNES OR AVERAGING 3.285 TONNES PER DAY IN JUNE.
JULY: INITIAL AMOUNT OF GOLD WILLING TO STAND: 749,300 OZ OR 23.306 TONNES OF GOLD TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 0.000TONNES//NEW STANDING REMAINS AT 40.818TONNES PLUS 0.00622 TONNES EXHANGE FOR RISK// NEW TOTAL 40.824 TONNES . TOTAL QUEUE JUMPING SO FAR: 17.5802 TONNES OR 0.8790 TONNES ON EACH TRADING DAY LEAVING COMEX FOR EASTERN SHORES.
AUGUST INITIAL; INITIAL AMOUNT OF GOLD WILLING TO STANDS: 48.687 TONNES TO WHICH WE ADD OUR 2ND EXCHANGE FOR RISK AT 1.552 TONNES TO OUR FIRST: 0.0715 NEW TOTAL EXCHANGE FOR RISK = 1.6235 AND THEN ADD OUR NEXT QUEUE JUMP OF 491 CONTRACTS OR 49,100 OZ (1.527 TONNES)//STANDING ADVANCES TO 53.5955 TONNES.
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE 4 YEARS 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
COMEX GOLD TRADING BEGINNING AUGUST. CONTRACT;
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE ( IT ROSE BY $22.00)
WE HAD ZERO T.A.S. SPREADER LIQUIDATION MONDAY // COMEX SESSION// WITH OUR GAIN IN PRICE
OTHER EASTERN CENTRAL BANKS TENDERED FOR PHYSICAL EVERY NIGHT WHICH ALSO EXPLAINS THE HUGE NUMBER OF TONNES OF GOLD THAT STOOD FOR GOLD DURING THESE PAST SEVERAL MONTHS
THE CROOKS COULD NOT STOP OTHER CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL MONDAY EVENING //TUESDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE AT COMEX OF $22.00
WE HAD 708 CONTRACTS REMOVED TO OUR OI AT THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL
NET GAIN ON THE TWO EXCHANGES: 3929 CONTRACTS OR 392,900 OZ (12.22 TONNES)
AUG DELIVERY MONTH
AUGUST 11
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 0 ENTRIES |
| Deposit to the Dealer Inventory in oz | 1 ENTRY i) Into Manfra: 26,274.200 oz total deposit: 20274.200 oz |
| Deposits to the Customer Inventory, in oz | DEPOSITS/CUSTOMER//gold ENTRIES: 0 xxxxxxxxxxxxxxxx |
| No of oz served (contracts) today | 487 CONTRACTS 48,700 OZ 1.515 TONNES OF GOLD |
| No of oz to be served (notices) | 806Contracts 80,600 OZ 2.506 TONNES |
| Total monthly oz gold served (contracts) so far this month | 15,903 notices 1,590,300 OZ 49.46 TONNES |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month |
dealer deposits: 1
1 ENTRY
i) Into Manfra: 26,274.200 oz
total deposit: 20274.200 oz
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DEPOSITS/CUSTOMER
ENTRIES: 0
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comex withdrawal
0 ENTRIES
adjustments: 2 both customer to dealer:
a) Loomis: 64,334.151 oz
b) Brinks 74,375.320 oz
COMEX IS DRAINING GOLD
chaos inside the comex
THE FRONT MONTH OF AUG OI STANDS AT 1293CONTRACTS HAVING A LOSS OF 625 CONTRACTS.
STANDING FOR GOLD YESTERDAY: 50.444. TODAY’S STANDING IS 51.972 TONNES TO WHICH WE ADD: 1.6235 TONNES EXCHANGE FOR RISK. THUS THE QUEUE JUMP IS REPRESENTED BY A STRONG 86 CONTRACTS OR AN ADDITIONAL 8600 OZ (.2674 TONNES) WILL STAND AT THE COMEX.
SEPTEMBER GAINED 63 CONTRACTS UP TO AN OI OF 5842
OCT LOST 32 CONTRACTS TO AN OI OF 54,352
.
We had 487 contracts filed for today representing 48,700 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices issued from their client or customer account. The total of all issuance by all participants equate to 487 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 99 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for AUGUST. /2026. contract month, we take the total number of notices filed so far for the month (15,903) to which we add the difference between the open interest for the front month of AUG (1293 CONTRACTS) minus the number of notices served upon today 487x 100 oz per contract) equals 1,670,900 OZ OR (51.972 Tonnes of gold)then we add our two exchange for risk of 523 contracts for 52,300oz or 1.6235..new standing advances to 53.5955 tonnes.
THUS: INITIAL total number of gold ounces standing for AUG. /2026. contract month, we take the total number of notices filed so far for the month (15,903) to which we add the difference between the open interest for the front month of AUG( 1293) contracts minus the number of notices served upon today 487 x 100 oz per contract) equals 1,670,900 OZ OR (51.972 Tonnes of gold) plus 1.6235 tonnes exchange for risk..new standing 53.5955
new total of gold standing in AUG becomes 53.5955 TONNES//
TOTAL COMEX GOLD STANDING FOR AUG 53.5955 TONNES TONNES WHICH IS NOW REALLY HUGE FOR THIS ACTIVE DELIVERY MONTH OF AUG
confirmed volume MONDAY confirmed 142,327/ poor// many have left the arena
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: 1,743,150.582 oz 54.219 tonnes pledged gold lowers
total inventories in gold declining rapidly
total pledged gold: 1,743,150.582tonnes oz 54.219 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 26,628,511.124 oz
TOTAL REGISTERED GOLD 14,356,804.280 tonnes (446.556 tonnes)
TOTAL OF ALL ELIGIBLE GOLD 12,271,706/844 oz. Lots of eligible gold leaving the comex
REGISTERED GOLD THAT CAN BE SERVED UPON 12,613,654oz ((REG GOLD- PLEDGED GOLD)=
392.337 Tonnes //
total inventories in gold declining rapidly
SILVER COMEX
AUG DELIVERY MONTH
AUGUST 11
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 1 entries ONE ENTRY: i) Out of Delaware: 996.620 oz total withdrawal: 996.620 oz |
| Deposits to the Dealer Inventory | 0 |
| Deposits to the Customer Inventory | ENTRY: 2 i) Into Asahi: 895,317.200 oz ii) Into Manfra: 599,461.378 oz total deposit: 1,494,778.528 oz |
| No of oz served today (contracts) | 20 CONTRACT(S) ( 0.100 MILLION OZ) |
| No of oz to be served (notices) | 169 Contracts (0.845 MILLION oz) |
| Total monthly oz silver served (contracts) | 1395 contracts 6.975 MILLION oz |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
DEPOSITS INTO DEALER ACCOUNTS
ENTRY:0
DEPOSIT ENTRIES/CUSTOMER ACCOUNT
ENTRY: 2
i) Into Asahi: 895,317.200 oz
ii) Into Manfra: 599,461.378 oz
total deposit: 1,494,778.528 oz
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withdrawals: customer side/eligible
ONE ENTRY:
i) Out of Delaware: 996.620 oz
total withdrawal: 996.620 oz
adjustments :0
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TOTAL REGISTERED SILVER: 99.704 MILLION OZ//.TOTAL REG + ELIGIBLE. 335.464 Million oz
registered silver dropping in numbers
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR AUGUST
silver open interest data:
FRONT MONTH OF AUGUST /2026 OI: 189 OPEN INTEREST CONTRACTS FOR A LOSS OF 432 CONTRACTS.
YESTERDAY WE HAD 7.736 MILLION OZ STAND: TODAY WE HAVE 8.030 MILLION OZ STAND
THUS WE HAVE A GAIN OF 59 CONTRACTS I.E. A STRONG 0.294 MILLION OZ QUEUE JUMP/
SEPTEMBER SAW A LOSS OF 3714 CONTRACTS UP TO AN OI OF 75,282 CONTRACTS
OCT GAINED 121 CONTRACTS TO AN OI OF 666
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 20 or 0.100 MILLION oz
CONFIRMED volume MONDAY; 65,411// fair//
AND NOW AUGUST. DELIVERIES:
To calculate the number of silver ounces that will stand for delivery in AUG. we take the total number of notices filed for the month so far at 1395 X5,000 oz = 6.975 MILLION oz.
Then we take the difference between the front month of August and the number of notices filed for today x 5000 to give us our standing
Thus the standings for silver for the AUG 2026 contract month: (1395 )Notices served so far) x 5000 oz + OI for the front month of AUG ( 189 ) minus number of notices served upon today (20 x 5000 oz equals silver standing for the AUG .contract month equating to 8.0360 MILLION OZ. ( a very strong delivery month)
We must also keep in mind that there is considerable silver standing in London coming from our longs
There are ONLY 99.704 million oz of registered silver
JPMorgan as a percentage of total silver: 137.898/335.464million: 41.14%
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.
BOTH GLD AND SLV ARE MASSIVE FRAUD/
AUGUST 11//2026/WITH GOLD UP $20.25 /HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.52 TONNES OF GOLD INTO THE GLD. : //:/INVENTORY RESTS AT 1020.06TONNES
AUGUST 10//2026/WITH GOLD UP $22.00 /HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.82 TONNES OF GOLD INTO THE GLD. : //:/INVENTORY RESTS AT 1017. 540TONNES
/AUGUST 7//2026/WITH GOLD UP $98.00 /HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.57 TONNES OF GOLD INTO THE GLD. : //:/INVENTORY RESTS AT 1014.720TONNES
AUGUST 6//2026/WITH GOLD DOWN $2.45 /HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 4.851 TONNES OF GOLD FROM THE GLD. : //:/INVENTORY RESTS AT 1014.143TONNES
AUGUST 5//2026/WITH GOLD UP $59.75 /HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.146 TONNES OF GOLD FROM THE GLD. : //:/INVENTORY RESTS AT 1005.874TONNES
AUGUST 3//2026/WITH GOLD DOWN $15.80 /HUGE CHANGES IN GOLD AT THE GLD: A WIITHDRAWAL OF 2.28 TONNES OF GOLD FROM THE GLD. : //:/INVENTORY RESTS AT 1007.02TONNES
JULY 31//2026/WITH GOLD DOWN $50.40 /NO CHANGES IN GOLD AT THE GLD INTO THE GLD. : //:/INVENTORY RESTS AT 1009.30TONNES
JULY 30//2026/WITH GOLD UP $63.70 /NO CHANGES IN GOLD AT THE GLD INTO THE GLD. : //:/INVENTORY RESTS AT 1009.30TONNES
JULY 29//2026/WITH GOLD DOWN $0.10 /NO CHANGES IN GOLD AT THE GLD INTO THE GLD. : //:/INVENTORY RESTS AT 1009.30TONNES
JULY 28//2026/WITH GOLD UP 21.50 /NO CHANGES IN GOLD AT THE GLD INTO THE GLD. : //:/INVENTORY RESTS AT 1009.30TONNES
JULY 27.2026/WITH GOLD UP 21.50 /HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.43TONNES OF GOLD INTO THE GLD. : //:/INVENTORY RESTS AT 1009.30TONNES
JLY 24/2026/WITH GOLD UP 6.30 /NO CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.43TONNES OF GOLD INTO THE GLD. : //:/INVENTORY RESTS AT 1009.30TONNES
JULY 23/2026/WITH GOLD DOWN 98.60 /HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 2.00 TONNES OF GOLD INTO THE GLD. : //:/INVENTORY RESTS AT 1007.87TONNES
JULY 22/2026/WITH GOLD UP $73.30 /HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 2.28 TONNES OF GOLD INTO THE GLD. : //:/INVENTORY RESTS AT 1005.87 TONNES
JULY 21/2026/WITH GOLD DOWN $1.40 /HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 2.572 TONNES OF GOLD OUT OF GLD. : //:/INVENTORY RESTS AT 1004.45 TONNES
JULY 20/2026/WITH GOLD UP $59.75 /HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 0.860 TONNES OF GOLD OUT OF GLD. : //:/INVENTORY RESTS AT 1003.59 TONNES
JULY 17/2026/WITH GOLD UP $26.55 /HUGE CHANGES IN GOLD AT THE GLD A WITHDRAWAL OF 2.572 TONNES OF GOLD OUT OF GLD. : //:/INVENTORY RESTS AT 1001.878 TONNES
JULY 16/2026/WITH GOLD DOWN $110.60 /NO CHANGES IN GOLD AT THE GLD : //:/INVENTORY RESTS AT 1004.45 TONNES
JULY 15/2026/WITH GOLD DOWN $15.05 /HUGE CHANGES IN GOLD AT THE GLD : A DEPOSIT OF 1.94 TONNES OF GOLD INTO THE GLD/ //:/INVENTORY RESTS AT 1004.45 TONNES
JULY 14/2026/WITH GOLD UP $63.45 /NO CHANGES IN GOLD AT THE GLD : / //:/INVENTORY RESTS AT 1002.510 TONNES
JULY 13/2026/WITH GOLD DOWN $105.20 /HUGE CHANGES IN GOLD AT THE GLD : A WITHDRAWAL 0F 3.108 TONNES OF GOLD OUT OF THE GLD/ //:/INVENTORY RESTS AT 1002.510 TONNES
JULY 10/2026/WITH GOLD DOWN $27.25 /HUGE CHANGES IN GOLD AT THE GLD : A DEPOSIT 0F 3.138TONNES OF GOLD INTO THE GLD/ //:/INVENTORY RESTS AT 1005.618 TONNES
JULY 9/2026/WITH GOLD UP $58.60 /SMALL CHANGES IN GOLD AT THE GLD : A WITHDRAWAL OF 0.28 TONNES OF GOLD FROM THE GLD/ //:/INVENTORY RESTS AT 1002.510 TONNES
JULY 8/2026/WITH GOLD DOWN $73.30 /NO CHANGES IN GOLD AT THE GLD //:/INVENTORY RESTS AT 1002.79 TONNES
JULY 7/2026/WITH GOLD DOWN $28.05 /HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 1.42 TONNES OUT INTO THE GLD/ ./ //:/INVENTORY RESTS AT 1002.79 TONNES
JULY 6 /2026/WITH GOLD DOWN $19.55 /HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 3.954 TONNES OUT OF THE GLD/ ./ //:/INVENTORY RESTS AT 1001.366 TONNES
JULY 3 /2026/WITH GOLD UP $62.95 /NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1005.077 TONNES
JULY 2 /2026/WITH GOLD UP $44,05 /NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1005.077 TONNES
JULY 1 /2026/WITH GOLD UP $42.95 /NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1005.077 TONNES
GLD INVENTORY: 1020.06 TONNES, TONIGHTS TOTAL GOLD INVENTORY
SILVER
AUGUST 11 WITH SILVER DOWN $0.39 : :HUGE CHANGES IN INVENTORY AT THE SLV;A DEPOSIT OF 1.085 MILLION OZ INTO THE SLV / :INVENTORY RESTS AT 488.907 MILLION OZ
AUGUST 10 WITH SILVER UP $1.83 : :NO CHANGES IN INVENTORY AT THE SLV; / :INVENTORY RESTS AT 487.822 MILLION OZ
AUGUST 7 WITH SILVER UP $2.00 : :HUGE CHANGES IN INVENTORY AT THE SLV; A DEPOSIT OF 1.355 MILLION OZ INTO THE SLV : / :INVENTORY RESTS AT 487.822 MILLION OZ
AUGUST 6 WITH SILVER DOWN $0.75 : :NO CHANGES IN INVENTORY AT THE SLV : / :INVENTORY RESTS AT 486.467 MILLION OZ
AUGUST 5 WITH SILVER UP $2.20: :NO CHANGES IN INVENTORY AT THE SLV :// / :INVENTORY RESTS AT 486.673 MILLION OZ
AUGUST 4 WITH SILVER DOWN $0.07: :HUGE CHANGES IN INVENTORY AT THE SLV :A DEPOSIT OF 2.893 MILLION OZ FROIM THE SLV// / :INVENTORY RESTS AT 486.673 MILLION OZ
JULY 31 WITH SILVER DOWN $0.90: :NOCHANGES IN INVENTORY AT THE SLV : / :INVENTORY RESTS AT 483.780 MILLION OZ
JULY 30 WITH SILVER UP $0.97: :SMALL CHANGES IN INVENTORY AT THE SLV : A DEPOSIT OF 723,000 OZ INTO THE SLV // :INVENTORY RESTS AT 483.780 MILLION OZ
JULY 29 WITH SILVER UP $0.34: :NO CHANGES IN INVENTORY AT THE SLV : // :INVENTORY RESTS AT 483.057 MILLION OZ
JULY 28 WITH SILVER UP $0.27: :HUGE CHANGES IN INVENTORY AT THE SLV A WITHDRAWAL OF 0.633 MILLION OZ FROM THE SLV : // :INVENTORY RESTS AT 483.057 MILLION OZ
JULY 27 WITH SILVER UP $0.27: :HUGE CHANGES IN INVENTORY AT THE SLV A WITHDRAWAL OF 0.722 MILLION OZ FROM THE SLV : // :INVENTORY RESTS AT 483.690 MILLION OZ
JULY 24 WITH SILVER UP $1.45: :NO CHANGES IN INVENTORY AT THE SLV : // :INVENTORY RESTS AT 484.413 MILLION OZ
JULY 23 WITH SILVER DOWN 2.18: :HUGE CHANGES IN INVENTORY AT THE SLV : A DEPOSIT OF 0.723MILLION OZ OUT OF THE SLV// :INVENTORY RESTS AT 484.413 MILLION OZ
JULY 22 WITH SILVER UP $1.45: :SMALL CHANGES IN INVENTORY AT THE SLV : A WITHDRAWAL OF 0.217 MILLION OZ OUT OF THE SLV// :INVENTORY RESTS AT 483.690 MILLION OZ
JULY 21 WITH SILVER UP $1.89: :HUGE CHANGES IN INVENTORY AT THE SLV : A WITHDRAWAL OF 0.217 MILLION OZ OUT OF THE SLV// :INVENTORY RESTS AT 483.961 MILLION OZ
JULY 20 WITH SILVER UP $0.97: :HUGE CHANGES IN INVENTORY AT THE SLV : A DEPOSIT OF 2.17 MILLION OZ INTO THE SLV// :INVENTORY RESTS AT 484.232 MILLION OZ
JULY 17 WITH SILVER UP $0.25: :HUGE CHANGES IN INVENTORY AT THE SLV : A DEPOSIT OF 1.175 MILLION OZ// :INVENTORY RESTS AT 482.062 MILLION OZ
JULY 16 WITH SILVER DOWN $1.48: :NO CHANGES IN INVENTORY AT THE SLV// :INVENTORY RESTS AT 480.887 MILLION OZ
JULY 15 WITH SILVER DOWN $1.52: :HUGE CHANGES IN INVENTORY AT THE SLV/ A DEPOSIT OF 3.30 MILLLION OZ OZ INTO THE SLV// :INVENTORY RESTS AT 480.887 MILLION OZ
JULY 14 WITH SILVER UP $1.18: :HUGE CHANGES IN INVENTORY AT THE SLV/ A WITHDRAWAL OF 543,000 OZ FROM THE SLV// :INVENTORY RESTS AT 477,587 MILLION OZ
JULY 13 WITH SILVER DOWN $2.07: :NO CHANGES IN INVENTORY AT THE SLV/ :INVENTORY RESTS AT 478.130 MILLION OZ
JULY 10 WITH SILVER DOWN $0.67: :SMALL CHANGES IN INVENTORY AT THE SLV A WITHDRAWAL OF 0.904 MILLION OZ INTO THE SLV/ :INVENTORY RESTS AT 478.130 MILLION OZ
JULY 9 WITH SILVER UP $2.64: :SMALL CHANGES IN INVENTORY AT THE SLV A WITHDRAWAL OF 0.497 MILLION OZ INTO THE SLV/ :INVENTORY RESTS AT 479.531 MILLION OZ
JULY 8 WITH SILVER DOWN $2.70: :HUGE CHANGES IN INVENTORY AT THE SLV A DEPOSIT OF 0.497 MILLION OZ INTO THE SLV/ :INVENTORY RESTS AT 479.531 MILLION OZ
JULY 7 WITH SILVER DOWN $1.36: :HUGE CHANGES IN INVENTORY AT THE SLV A WITHDRAWAL OF 1.266 MILLION OZ OUT OF THE SLV/ :INVENTORY RESTS AT 479.034 MILLION OZ
JULY 6 WITH SILVER DOWN $0.51: :HUGE CHANGES IN INVENTORY AT THE SLV A DEPOSIT OF 940,000 OZ INTO THE SLV/ :INVENTORY RESTS AT 480.300 MILLION OZ
JULY 3 WITH SILVER UP $1.81: :SMALL CHANGES IN INVENTORY AT THE SLV A DEPOSIT OF 940,000 OZ INTO THE SLV.// :INVENTORY RESTS AT 479.360 MILLION OZ
JULY 2 WITH SILVER UP $0.58: : NO CHANGES IN INVENTORY AT THE SLV// :INVENTORY RESTS AT 479.360 MILLION OZ
JULY 1 WITH SILVER UP $0.48: : SMALL CHANGES IN INVENTORY AT THE SLV A DEPOSIT OF 0.233 MILLION OZ OUT OF THE SLV/./ // :INVENTORY RESTS AT 479.360 MILLION OZ
CLOSING INVENTORY 488.907 MILLION OZ OF SILVER
GOLD COMMENTARIES:
1.PETER SCHIFF
2. MATHEW PIEPENBERG/EGON VON GREYERZ//ALASDAIR MACLEOD..
ALASDAIR MACLEOD…
3. CHRIS POWELL AND HIS GATA DISPATCHES
Jacob Childress: China cannot afford to use its alternative to the dollar
Submitted by admin on Mon, 2026-08-10 19:34 Section: Daily Dispatches
By Jacob Childress
Real Clear World, Washington
Monday, August 10, 2026
Over the past 18 months, nearly every condition analysts have long said would erode the dollar’s dominance arrived at once.
War broke out in the Persian Gulf. The Strait of Hormuz has closed, reopened, and closed again, and remains shut as this is written. Iran began charging transit tolls denominated in yuan.
Indian refiners started settling Russian crude in yuan and dirhams, the first time a top-five oil importer structurally routed around the dollar for energy.
China’s cross-border payment system posted record volumes, clearing 1.22 trillion yuan in a single day in March.
Central banks bought gold at a pace not seen in half a century.
If the dollar’s position were going to crack, this was the stress test. …
… For the remainder of the commentary:
END
Timothy Noah: Why does the world put up with the dollar?
Submitted by admin on Mon, 2026-08-10 08:49 Section: Daily Dispatches
By Timothy Noah
The New Republic, New York
Monday, August 10, 2026
The most powerful tool of the American imperium is not, as is generally supposed, its military, but rather its currency.
Other nations (China, India) possess more troops, but none possesses more legal tender. There were 57,000,000,000 dollar-denominated bills in circulation last year. By comparison, euro-denominated bills — the world’s second-most-widely circulated currency, minted not by one nation but by 21—numbered 31,000,000,000.
The combined monetary value of the 57 billion greenbacks was $2.4 trillion; for the 31 billion euro notes, $1.6 trillion.
And that’s just paper money. How much of your net worth resides in your wallet? In our increasingly cashless society, I sometimes go months absentmindedly forgetting to pull dead-tree dollars out of my ATM. Serious money resides in banks and other financial institutions.
Economists speak of “reserve currencies,” or currencies held around the world by central banks and other government institutions like our Federal Reserve. These reserves can be paper currency or paper bonds or gold bars, but mostly they’re just blips on a computer screen.
Well over half of this money, or about $7 trillion, consists of U.S. dollars. Euros account for less than $3 trillion. Most international trade occurs in dollars too, not just in the United States but throughout the world, and when foreign corporations hedge against currency fluctuations, they do so overwhelmingly with dollars.
In effect, the dollar is not merely American currency; it’s a global currency too. …
… For the remainder of the commentary:
END
UK regulator prepares framework for tokenised gold
Submitted by admin on Mon, 2026-08-10 08:15 Section: Daily Dispatches
By Nikou Asgari and Martin Arnold
Financial Times, London
Monday, August 10, 2026
UK regulators are preparing a framework for tokenised gold as part of plans to encourage the digitisation of financial markets and to protect the dominance of London in global bullion trading.
The Financial Conduct Authority has talked to industry members, including big banks, about ways it could regulate tokenised gold in order to encourage growth in the market, according to people familiar with the watchdog’s plans.
The early discussions are part of the UK’s wider efforts to digitise wholesale financial markets and come as London’s gold market dominance is being challenged by China.
Tokenised gold involves creating digital tokens that represent ownership rights in physical gold. Gold bars are held by the issuer as a backing asset for the tokens. …
… For the remainder of the report:
END
Truce between gold miners Barrick and Newmont clears way for IPO
Submitted by admin on Mon, 2026-08-10 08:07 Section: Daily Dispatches
By Leslie Hook
Financial Times, London
Monday, August 10, 2026
Two of the largest gold mining companies, Barrick and Newmont, have agreed to combine some of their biggest mines — a truce that paves the way for one of the biggest mining IPOs of the year.
The two rivals, which already partner on the Nevada Gold Mines joint venture, had been locked in a dispute as Newmont tried to block Barrick’s plans for a separate listing of its North American assets, including the JV.
Under the terms of the deal, Newmont has consented to the IPO, and Barrick is adding its Fourmile gold discovery into the joint venture.
Newmont is also making a one-time payment to Barrick of about $2 billion, reflecting the additional value of the Fourmile asset, which the Canadian miner said could produce up to 750,000 ounces of gold a year.
Earlier this year Newmont alleged “mismanagement” of the Nevada assets by Barrick, including “diversion of resources from NGM to the benefit of Barrick’s wholly owned property Fourmile.”
“Newmont has consented to the IPO and the parties have agreed to expand NGM with the early vend-in of our excluded properties, as well as settling all disputes,” Barrick chief executive Mark Hill said. …
… For the remainder of the report:
* * *
4. ANDREW MAGUIRE//KINESIS LIVE FROM THE VAULT/283
5. COMMODITY REPORT: WHEAT
Wheat Futures Volatile As Black Sea Crisis And Hormuz Chokepoint Spark Concerns
Tuesday, Aug 11, 2026 – 10:50 AM
Chicago wheat futures are coiling for a breakout (one way or another) as ongoing Russia-Ukraine attacks on Black Sea grain infrastructure and bulk carriers threaten exports from one of the world’s most important breadbaskets.
Most-active Chicago wheat has been choppy in the last few days…
Hard red winter wheat gained as much as 2.7% to $7.505 a bushel.
Soft Red Winter wheat futures are poised for a much larger breakout if prices sustain a move above $7 a bushel.
Bloomberg noted Monday that Turkey temporarily suspended Black Sea transits by its cargo ships over the weekend amid ongoing maritime security risks in the critical shipping corridor. Ukraine warned that its agricultural exports for the 2026-27 season could be halved due to Russian attacks.
Joe Davis, director of commodities at brokerage Futures International, was quoted by the outlet as saying that potential supply disruptions had boosted US-grown hard red winter varieties more sharply because the grain is seen as a direct competitor to higher-protein milling wheat from the Black Sea region and Europe.
“While the disruptions don’t necessarily translate into immediate additional US export business,” Davis said, adding, “they do tighten the global exportable supply outlook and balance sheets, forcing importers to diversify origins and keeping support under higher-quality wheat values.”
With wheat prices inching higher and approaching $7, which could spark upside momentum, a gauge of global food prices tracked by the UN climbed to a three-year high in July.
Disruptions not only in the Black Sea but also in the Strait of Hormuz, combined with adverse weather conditions across key US and other key growing regions as El Niño risks rise, are certainly putting a bid under food prices, as the worst may be yet to come.
UBS analysts outlined five forces driving grocery bills higher in a note last week (report here). They asked a very important question: Is this the end of cheap food?
END
COMMODITY: DIAMONDS:
The Diamond Crash Accelerates
Tuesday, Aug 11, 2026 – 03:40 PM
The Diamond Standard Index, tracked on Bloomberg under the ticker DIAMINDX, tumbled to new record lows during the first half of August as a surge in affordable lab-grown stones eroded the scarcity premium underpinning natural diamond prices.
“Technological progress in growing diamonds in labs has been amazing. It’s no surprise most engagement rings are now using lab diamonds,” X user Crémieux said.
X user Saul Sadka warned that the diamond downturn will likely persist for years as lab-grown stones flood the market:
Expect the collapse in diamond prices to accelerate substantially over the next few years. The natural-diamond market is shrinking in both size and value and circling the drain following the commoditization of its product by modern technology. The same thing happened to pearls 100 years ago, but it will be much worse for diamonds: they will become a signal of bad taste rather than wealth, just as pearls went from high society to a matronly cliché within 50 years.
I have been telling friends in the diamond industry to find a new line of work for ten years. It was clearly only a matter of time before lab-grown diamonds became a mass-market commodity, sold at some small premium over production costs, which would themselves continue to plummet.
Since they are identical to natural diamonds, and buyers actually have multiple reasons to choose them instead, including no “blood diamonds” and supposedly greater environmental friendliness, most buyers will not care.
Attempts to differentiate the products using $20,000 machines will not help: they are indistinguishable in real life.
There was always going to be some multiple that people would be willing to pay for “natural” over “lab,” but it did not really matter whether that multiple was 2× or 10×. Once lab-grown diamonds can be made for next to nothing, even ten times next to nothing is still very little. People will pay more, perhaps much more, for an identical product because of its backstory, but not infinitely more.
The reason natural-diamond prices have held up reasonably well over the past four years, “only” falling by around 50% in real terms, has more to do with supply cutbacks. Production has been reduced by about 20% over that period, from 120 million to 98 million carats, in a desperate attempt to support prices as the natural and lab-grown markets diverge. If production returned to its previous level, prices would fall even faster.
But it is going to get much, much worse. A trip to Miami will explain why: people who look like gangsters walk around wearing enormous tennis bracelets that would have cost a million dollars 20 years ago but can now be purchased for the price of a used Rolex.
Diamonds are going to become a sign of tackiness, as, frankly, they always should have been, rather than class or exclusivity. And then the game will be up for everyone in the diamond industry.
Sadka continued in a series of follow-up tweets:
One of the biggest problems for hopes of a residual natural-diamond industry is that diamonds ARE, in fact, FOREVER. At some point, the market will shrink to the point where the secondhand supply, fed by the estates of Boomers as they fall off this mortal coil, will provide sufficient supply to make any mining or polishing uneconomic.
This would have been true 30 years ago, and it would have been a big blow to the Israeli economy, but it’s not true anymore. The industry once accounted for up to 3% of Israeli GDP, but it’s now under 0.2%. Sorry, Turkey.
There might be some limited residual market at the high end, but my guess is that there will be enough supply from Boomers as they “check out” to glut that demand without any need for miners or cutters, etc.
To sum up: natural diamonds face a structural, rather than cyclical, collapse. If you’re in the market for an engagement ring and hoping it will serve as some store of value, you might be out of luck because lab-grown stones are destroying the scarcity premium, while a potential wave of secondhand supply from aging Baby Boomers could pressure the market even further.
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS TUESDAY MORNING.7:30 AM
SHANGHAI CLOSED DOWN 32.50 PTS OR 0.82%
HANG SENG CLOSED DOWN 300.49 PTS OR 1.16%
Nikkei CLOSED UP 1363.51 PTS OR 2.08%
//Australia’s all ordinaries CLOSED DOWN 0.02%
//Chinese yuan (ONSHORE) CLOSED DOWN TO 6.7462
/ OFFSHORE CLOSED DOWN AT 6.7482 Oil UP TO 84.03 dollars per barrel for WTI and BRENT UP TO 89.85 Stocks in Europe OPENED ALL RED
ONSHORE USA/ YUAN// WITH YUAN TRADING DOWN (6.7467 OFFSHORE YUAN TRADING DOWN TO 6.7481 ONSHORE YUAN TRADING ABOVE LEVEL OF OFF SHORE AND DOWN ON THE DOLLAR)// / AND THUS WEAKER/OFF SHORE YUAN TRADING DOWN AGAINST US DOLLAR/ AND THUS WEAKER
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
ONSHORE YUAN: CLOSED DOWN AT 6.7467
OFFSHORE YUAN: DOWN TO 6.7481
1.HANG SANG CLOSED DOWN 300.49 PTS OR 1.11%
2. Nikkei closed UP 1363.51 PTS OR 2.08%
WEST TEXAS INTERMEDIATE OIL UP TO 84.03
BRENT; 89.95
3. Europe stocks SO FAR: ALL RED
USA dollar INDEX UP TO 99.77// EURO FALLS TO 1.1533 DOWN 13 BASIS PTS
3b Japan 10 YR bond yield:FALLS TO. +2.806 DOWN 0 FULL BASIS PTS/ VERY TROUBLESOME//Japan buying 100% of bond issuance)/Japanese YEN vs USA CROSS NOW AT 158.82… 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: 3.958 UP 1 FULL BASIS PTS
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: DOWN (6.7467) AND OFFSHORE: DOWN AT 6.7481
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA. CENTRAL BANK OF JAPAN WILL NO LONGER DO QE.
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt. GOVERMENT ASKED JAPAN PENSION FUNDS AND INSURANCE FUNDS TO BUY MORE JAPANESE BONDS AND REPATRIATE ALL FOREIGN BONDS.
3g Oil UP for WTI and UP this morning
3h European bond buying continues to push yields HIGHER on all fronts in the EU German 10yr bund YIELD UPTO +3.2027/ Italian 10 Yr bond yield UP AT 4.012/ SPAIN 10 YR BOND YIELD UP TO 3.642%
3i Greek 10 year bond yield UP TO 3.873%
3j Gold at $4365.10/Silver at: 64.65 1 am est) SILVER NEXT RESISTANCE LEVEL AT $100.00
3k USA vs Russian rouble;// Russian rouble UP 0 AND 39/ 100 roubles/82.11
3m oil (WTI) into the 84 dollar handle for WTI and 89 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 159/35 // 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 2.806% DOWN 0 BASIS PTS STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE NOW UNWINDING//YEN BOND TRADING OVERSEAS TO BE REPATRIATED.//JAPAN 30 YR: 3.958 UP 1 PTS..: USA/SF this 0.8112 as the Swiss Franc . Euro vs SF: 0.9354
USA 10 YR BOND YIELD: 4.736 UP 4 BASIS PTS…DANGEROUSLY CLOSE TO 5.00%
USA 30 YR BOND YIELD: 5.280 UP 4 BASIS PTS/
USA 2 YR BOND YIELD: 4.260 UP 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 47.74 UP 3 BASIS PTS/LIRA GETTING KILLED//IDIOTS FOR SELLING GOLD AND USA DOLLAR RESERVES.
10 YR UK BOND YIELD: 5.0472 UP 6 PTS
30 YR UK BOND YIELD: 5.784 UP 6 BASIS PTS
10 YR CANADA BOND YIELD: 3.7210 UP 8 BASIS PTS
5 YR CANADA BOND YIELD: 3.341 UP 8 BASIS PTS.
1a New York Opening report
Futures Jump, Oil Tumbles As Well-Timed Comments Spark Latest Round Of Hormuz Optimism
by Tyler Durden
Tuesday, Aug 11, 2026 – 08:22 AM
US equity futures were trading near session lows with bond yields at August highs of 4.74% and Brent rising above $90 for the first time in two weeks when – with just hours until the market open – we had the now standard double-whammy of well-timed “imminent deal optimism” thanks first to the Qatar foreign ministry, followed less than an hour later by comments from the Pakistan defense minister – a man repeatedly used by the Trump admin to spread market-moving propaganda – which sparked instant algo buying on hopes of, what else, an agreement to reopen the Strait of Hormuz. According to the Pakistani, the US and Iran “are close to some agreement” and “the situation is moving towards peace” which was sufficient to not only push futures immediately to session highs, and just shy of all time highs…
… but also dump oil more than $3 and send bond yields to session lows on what is the same song and dance the market has heard countless times before, even as strategic and commercial oil stocks and reserves are being rapidly depleted below operational minimum levels.
As of 8:00am, S&P futures climbed 0.2% and contracts on the Nasdaq advanced 0.4%. Ten-year Treasury yields were little changed at 4.71%, erasing an earlier move as high as 4.76%, as Brent crude erased gains to trade 0.4% lower at around $87 per barrel, rising above $90 earlier. Earlier in the morning, Intel announced a $20BN capital raise in an upsized share sale (orifinally $15BN) that drew more than $100 billion in demand. That deal followed hot on the heels of Nvidia’s plan to tap a group of Wall Street firms for $500 billion in funding commitments, which CEO Huang said will underwrite AI infrastructure costs for customers. Today’s US economic data calendar includes ADP weekly employment change (8:15am) and July existing home sales (10am). Fed speaker slate includes Chicago Fed’s Goolsbee, unscripted on WIRED Tech Support on YouTube; Cleveland Fed’s Hammack and Richmond Fed’s Barkin have appearances slated Thursday.
In premarket trading, Mag 7 stocks are mostly higher (Nvidia +1.1%, Meta +0.3%, Tesla +0.5%, Apple +0.2%, Microsoft -0.1%, Alphabet -0.03%, Amazon +0.05%)
- ACV Auctions (ACVA), a digital marketplace to buy and sell cars, climbs 20% after people familiar with the matter said the company is exploring strategic options including a potential sale.
- Babcock & Wilcox (BW) jumps 35% after the maker of power generation equipment reported revenue for the second quarter that was far beyond the average analyst estimate.
- Cardinal Health (CAH) climbs nearly 2% after the distributor of healthcare products provided a year forecast for adjusted earnings per share that beat the average analyst estimate.
- Everpure (P) rises 7% after the computer storage company said it secured a design win and supply agreement with a second top-five hyperscaler.
- Fermi (FRMI) rallies 16% after the power company entered its first binding customer lease at its Project Matador campus with TensorWave.
- Hims & Hers Health (HIMS) is down 5% after the telehealth firm reduced the top end of its adjusted Ebitda forecast for the full year. The company also said it plans to enter the peptides market before the end of the year.
- On Holding’s (ONON) US-listed shares drop 15% after posting disappointing second-quarter sales, as the company held off from discounting older shoe models ahead of product updates in the US market.
- Plug Power (PLUG) rises 13% after the green hydrogen company reported net revenue for the second quarter that beat the average analyst estimate. The company also raised an outlook for revenue growth.
- Rapid7 (RPD) gains 6% after the software company raised its full-year forecast for adjusted earnings. It also increased the low end of its full-year revenue forecast.
- Riot Platforms (RIOT) climbs 17% after the Bitcoin mining company that recently began selling AI data center capacity was said to strike a $9.1 billion deal with Anthropic. The company also reported reported total revenue for the second quarter that beat the average analyst estimate.
- Rocket Lab (RKLB) falls 5% after the company gave an outlook for adjusted Ebitda that is weaker than expected. It also pointed to a potential new delay with its Neutron rocket.
- Sable Offshore (SOC) falls 6% after the energy company had charges due to displaced cargoes in the second quarter and faced oil sales constraints at the start of the third quarter.
- Upwork (UPWK) tumbles 19% after the online recruitment company cut its full-year forecast for both revenue and adjusted Ebitda. Analysts see the results as a sign that AI is weighing on the company’s business.
Risk appetite, which was near session lows around 6am, spiked up after comments from Pakistan’s defense minister, who said signals in recent days suggest the US and Iran are “close to some sort of arrangement.” Earlier, US President Donald Trump made sweeping new demands on Iran, dimming hopes for a deal to reopen the Strait of Hormuz.
Away from the Middle East developments, investors are looking to the US consumer price index reading on Wednesday for fresh signals on the path for Federal Reserve interest rates after Friday’s softer-than-expected data tempered bets on an immediate hike. US CPI probably rose 0.1% in July following a 0.4% decline in the prior month, according to the median projection in a Bloomberg survey of economists ahead of Wednesday’s Bureau of Labor Statistics release. Federal Reserve Bank of Cleveland President Beth Hammack struck a hawkish tone on Monday, saying it’s possible a number of rate hikes may be needed to bring inflation down to the central bank’s 2% target.
In the latest massive capital raise to fund the AI rollout, Intel raised $20 billion in an upsized share sale that drew more than allegedly $100 billion in demand. That deal followed hot on the heels of Nvidia’s plan to tap a group of Wall Street firms for $500 billion in funding commitments, which CEO Huang said will underwrite AI infrastructure costs for customers. The “bank of Nvidia” creates a protective financing moat for the chipmaker, while fueling credit risk by lending to customers, according to Panmure Liberum’s Mark Taylor. “Nvidia is cutting a lot of checks and a lot of commitments with finite free cash flow” to an industry “driven more by efficiency of the technology and struggling for meaningful monetization.” That brings focus back onto the circular deals underpinning the AI boom.
With earnings season winding down, analysts are pricing a streak of exceptional profit growth for the S&P 500, the likes of which has typically only been seen after deep earnings recessions. But among global markets, investors are now flocking to Europe, which has experienced not only a stellar earnings season but is also benefitting from more clarity on rates than the US.
S&P 500 companies are on track for about 32% year-on-year profit growth in the second quarter, following a jump of 30% in the previous three months, according to figures tracked by Bloomberg Intelligence. The next two quarters are also projected to deliver gains exceeding 20%. Such runs are rare, occurring only 10 times since 1936, according to Bank of America Corp. strategists led by Savita Subramanian. Debt-funded AI spending will continue to support earnings despite volatility, according to Barclays Plc strategists, who prefer US growth and large-cap stocks.
In the latest AI news, Anthropic struck a $9.1 billion compute capacity agreement with Riot Platforms. CoreWeave’s guidance after the close will be closely watched as another indicator of demand for AI infrastructure. The company, which rents cloud-computing power for AI, gets about 80% of its revenue from Alphabet, Meta and Microsoft. And check out today’s Big Take on how AI-dominated leveraged ETFs look set to join the list of products that got too popular for their own good.
Barclays strategists stick with factor preferences of US growth and large-cap stocks as AI spending supports earnings; in Europe, they continue to favor value stocks and say momentum may recover gradually after a sharp selloff. US and European markets have seen a recovery in positioning over the past week, putting shorts under pressure, especially for the S&P 500, according to strategists at Citigroup.
In Europe, equities also reversed earlier losses with the Stoxx 600 rising 0.1% on the Iran headlines, amid very low volumes in the August lull. Energy and technology firms outperformed for a second day while insurers lagged. Here are the biggest movers Tuesday:
- Alcon shares advance as much as 6.5%, the most since November 2025, as the Swiss eye-care company delivers second-quarter results ahead of expectations and lifts guidance for core Ebit margin and EPS growth
- Idorsia shares gain as much as 6.7%, outperforming the Swiss Performance Index on Tuesday morning, after the US Drug Enforcement Administration proposed reclassifying dual orexin receptor antagonists, including the Swiss pharmaceuticals producer’s insomnia treatment Quviviq
- Bell Food Group shares rise as much as 11%, the biggest intraday gain in 15 years, after the meat and convenience food company reported earnings ahead of expectations, according to Zürcher Kantonalbank
- Lion Finance Group shares jumped as much as 5% to a record high after second-quarter earnings beat expectations, helped by stronger net interest income and fees, while the lender raised its first-half dividend and announced a further GEL59 million buyback
- ISS gains as much as 4.8%, the most since July 2, after the Danish facility services group’s latest earnings were praised by analysts
- Legal & General shares fall as much as 5%, the most in three months. UBS and Goldman Sachs downgrade the stock noting recent outperformance, marking at least the third move to a sell rating this week
- Spirax drops as much as 11%, breaking its recent run, after the thermal energy and fluid technology specialist’s small beat in the first-half and reiterated guidance failed to propel shares higher
- IHG shares slip as much as 3% to the lowest level since May. The hotelier reported a small miss on Ebit in the first half, though analysts attribute the shortfall to a one-off incident
- International Workplace Group shares fall as much as 11%, the most in almost a year, after the office company’s first half results showed an unexpected drop in free cash flow
- Tecan shares fall as much as 13%, the most since October 2024, after the Swiss maker of laboratory automation components and systems saw its order intake decline in the first half of the year
- Genuit Group shares slide as much as 7.7%, the most since April, after the British building materials group reported a miss on profit in the first half
- M&G falls as much as 3.6%, the most since March 23, after UBS downgraded the stock to sell from neutral, citing the UK asset manager’s “high valuation relative to its own history and peers.”
Asian stocks erased earlier gains to trade little changed, as losses in China offset gains in tech names. The MSCI Asia Pacific index excluding Japan edged lower after climbing as much as 0.5%. Tencent Holdings and AIA Group were among the biggest drags on the gauge, while chipmakers Samsung and TSMC were the biggest boosts. Australian stocks rose after the central bank kept interest rates unchanged as expected, while markets in South Korea and Taiwan also advanced. Japan was shut for a holiday. Oil’s continued climb amid US President Donald Trump’s new demands on Iran has revived inflation concerns for regional economies. Sentiment is also muted ahead of the release of key US consumer price data that would offer clues on interest rate trajectory. Leading gainer Samsung shares climbed 4.1% on expectations for a massive shareholder return package during Samsung Group’s Asia conference starting Tuesday. Elsewhere, Hong Kong’s main tech stock benchmark is set for a revamp to include more companies representing the fast-growing AI and robotics sectors
“Higher oil prices and a stronger US dollar are weighing on sentiment in parts of the region,” said Mohit Mirpuri, a partner at SGMC Capital Pte in Singapore. “Investors are also fairly cautious ahead of the US CPI print tomorrow, which should give us a little more clarity on the Fed rate path.”
In FX, the Bloomberg Dollar Spot Index held steady as Brent hit $90 a barrel. AUD/USD fell as much as 0.2% to 0.7040; The RBA left rates unchanged and said financial conditions are “somewhat restrictive.” NZD/USD fell over 0.2% to 0.5868, leading G-10 losses against the dollar; New Zealand Prime Minister Christopher Luxon summoned lawmakers to a meeting as questions over his leadership intensify. EUR/USD dipped 0.1% to 1.1531. USD/JPY steadied around 159.36. Bessent’s suggestion of a no-limits approach to helping Japan rescue the yen may be limited by his firepower to do the job, with the Exchange Stabilization Fund having holdings of less than $220 billion.
In rates, treasuries pared losses at the start of the US trading day as oil prices stabilize after comments by Pakistan defence minister stoked optimism for an agreement to reopen the Strait of Hormuz. Focal points of US session include 3-year note auction, first of this week’s three Treasury coupon sales, indicated to draw highest yield since January 2025. Thanks to the diplomatic headlines noted above, yields are now little changed, erasing the entire move higher, with the curve slightly steeper; 30-year nearly reached its July 31 multiyear high 5.28% before retreating. First Treasury coupon auction cycle of the August-to-October financing begins with $58b 3-year note sale at 1pm New York time; 10- and 30-year new-issue auctions follow over next two days. WI 3-year yield near 4.33% exceeds comparable auction results since January 2025. IG credit new-issue calendar is blank so far, however seven issuers signaled intention on Monday, when 19 borrowers raised a combined $27.6 billion, more than half the anticipated weekly total; dealers predicted it would be front-loaded ahead of the July CPI report to be released Wednesday
In commodities, WTI crude oil futures are slightly lower after climbing 3% to the highest level since July 31 following comments from Qatari and Pakistani officials meant to boost risk sentiment. Precious metals are fading some of their recent gains, with spot gold down 0.4% after temporarily making its way onto a $4,400/oz handle during APAC trade.
Today’s US economic data calendar includes ADP weekly employment change (8:15am) and July existing home sales (10am); ahead this week are July CPI, PPI and retail sales and August preliminary University of Michigan sentiment. Fed speaker slate includes Chicago Fed’s Goolsbee, unscripted on WIRED Tech Support on YouTube; Cleveland Fed’s Hammack and Richmond Fed’s Barkin have appearances slated Thursday.
Market Snapshot
Top Overnight News
- Iran’s new supreme leader, Khamenei’s son Mojtaba, is putting his own stamp on the country’s national-security policy amid a confrontation with the U.S. that could last months or even years. In a sweeping overhaul of the government’s top echelon on Sunday and Monday, Iran named seasoned hard-liners to run the country’s security policies and institutions of repression. WSJ
- Persian Gulf energy producers are concluding that Iran’s control over the Strait of Hormuz will become permanent, disrupting their oil and gas exports and global energy supplies indefinitely. The problem is they worry the alternative—going back to war—would be worse. WSJ
- The BoJ may be edging toward an early rate hike, but it faces a growing risk that any move to tighten policy will be offset by mounting political pressure to support the bond market. As government spending plans drive yields higher, the BOJ is being drawn into an increasingly awkward battle to defend its push to normalize policy and resist calls to resume the very bond-buying it is trying to unwind. RTRS
- The Bank of Korea will likely need to raise interest rates further as strong growth feeds into underlying inflation, its outgoing senior deputy governor said, while adding that the stronger currency and recent stock market moves give policymakers some flexibility in setting policy. BBG
- The Reserve Bank of Australia left interest rates unchanged on Tuesday but continued to warn that inflation remains too high, especially against the backdrop of war in the Middle East. WSJ
- UK retail sales rose an annual 1.3% in July, half the pace recorded a year earlier as consumers stayed at home during the heat wave. BBG
- OpenAI is said to have bought back roughly $7 billion of employee shares at a valuation of $852 billion. BBG
- Intel Corp. raised $20 billion in an upsized share sale, a third more than it was targeting when it announced the deal Monday morning. The share sale drew more than $100 billion in demand, people familiar with the matter said, and was priced at $95 per share, representing a discount of 6.5% to Friday’s closing price: BBG
- Anthropic struck a $9.1 billion deal with Riot Platforms for 191 megawatts of data center capacity, people familiar said. Riot shares soared premarket. BBG
- Australia’s central bank chief Michele Bullock adopted a hawkish stance after keeping interest rates unchanged for a second straight meeting on Tuesday, warning it’s “quite possible” that further tightening will be needed: BBG
- Zohran Mamdani’s pied-à-terre tax was temporarily blocked by a state court judge on Staten Island after a group of homeowners argued its introduction was mishandled. BBG
A more detailed look at global markets courtesy of Newsquawk
APAC stocks traded mixed following a lacklustre lead from Wall Street, where risk sentiment was constrained by higher oil prices and yields amid geopolitical uncertainty, while conditions in Asia were thinned due to the Japanese holiday closure. ASX 200 gained amid strength in energy and miners following recent upside in underlying commodity prices, but with upside capped after weak NAB business confidence and heading into the RBA which kept rates unchanged as expected and maintained its hawkish tone, although it was slightly less hawkish, with the central bank acknowledging that financial conditions in Australia appear somewhat restrictive and it also trimmed CPI forecasts. KOSPI climbed alongside a rebound in tech and with notable gains in Samsung Electronics. Hang Seng and Shanghai Comp were lacklustre after the PBoC opted for zero liquidity operations today, although the downside in the mainland was cushioned following prior reports that China issued the first new round of consumption vouchers aimed at boosting spending.
Top Asian News
- China’s CPCA said China sold 1.47mln passenger cars in July (vs 1.651mln in June, -21.1% Y/Y); Tesla (TSLA) exported 66,330 vehicles in July (vs 36,000 in June).
European bourses trade mostly in the red, outside of the AEX and IBEX 35, as higher energy prices weigh on indices. The source of the move higher in energy came amid reports that a Saudi ship was reportedly targeted near Bab-al-Mandab. As a reminder, the Houthis have vowed in recent days to continue operations targeting Saudi oil tankers. Sectors have a negative bias. Energy is the only sector with clear gains, given the upside in energy benchmarks (Brent +2.5%). The sector laggard is Travel & Leisure, with Insurance and Construction rounding out the underperformers.
Top European News
- Swedish NIER Economic Forecasts: Raises 2026 GDP growth forecast to 2.4% (prev. 2.2%), maintains 2027 GDP growth; Maintains 2026 CPIF, cuts 2027 CPIF to 2.2% (prev. 2.1%).
- Italian Trade Balance (Jun) 4.232 vs. Exp. 4.74 (Prev. 4.793).
- UK BRC Retail Sales Monitor (Jul YY) 1.0% vs. Exp. 1.5% (Prev. 1.7%).
FX
- Quiet action across G10s sees most currencies flat against the Buck with geopolitics driving the little moves seen.
- DXY attempting to build on Monday’s gains, now looking towards the 100.00 mark as elevated energy benchmarks continue to support the Greenback (see commodities), price action which has supported a couple more bps of tightening across Fed expectations. Focus this week is overwhelmingly on the CPI print, especially since FT sources before NFP suggested Warsh was focused on the inflation side of the mandate heading into the September meeting. Data scheduled today includes the weekly ADP release, while the Fed speaker slate is light.
- AUD broadly unchanged after the RBA left rates unchanged, in line with analyst/market expectations. Some immediate AUD weakness on the statement as it tweaked language around inflation vigilance (“prepared to increase the cash rate if required” -> “…if upside risks materialise”), added the description of policy as “somewhat restrictive”, and revised inflation forecasts lower, points which reinforce the view the bank is comfortable and set to remain on hold until mid-2027 as markets expect. However, the hawkish presser, “Possible we need to hike again” saw a reversal of that kneejerk lower, leaving AUD/USD just 10 pips lower at 0.7050. Some banks still caution there are hawkish risks to the outlook, while ING, Westpac and MUFG are some of the banks maintaining calls for unch. in 2026; RBA market pricing reflects the same, steady post-announcement.
- Some continued strength in energy exporters against the Dollar as geopolitics lacks positive updates, with CAD (+0.1%) and NOK (+0.1%). The latter has passed 1.00 in the Scandi cross (NOK/SEK +0.2%) as SEK suffers as a net importer. Action elsewhere is quiet, GBP, JPY, CHF all flat against the USD; EUR also unch. vs. the Buck, though firmer against most CEE, HUF to the largest degree.
Fixed Income
- A bearish session for the space, after being relatively contained overnight despite the incremental upticks in energy seen after POTUS commentary and the general lack of progress.
- However, the bias became much more apparent in the early European morning, as energy lifted from a maritime incident in Bab al-Mandab (see Commodities for more details). Amidst this, USTs fell from 108-09 to 108-04, lower by 7+ ticks at most.
- Bunds and Gilts follow suit directionally, down to lows of 124.28 and 86.33 respectively. Lower by 21 and 53 ticks, respectively. The docket for both is light. The German Bobl auction was broadly in line with the prior auction, but it did result in modest upticks in Bund futures.
- Germany sells EUR 4.627bln vs Exp. 6bln 2.90% 3031 Bobl: b/c 1.48x (prev. 1.48x), average yield 2.93% (prev. 2.89%), retention 22.9% (prev. 24.1%).
Commodities
- WTI Sep and Brent Oct futures are on a firmer footing with upside this morning seen amid reports a Saudi ship was targeted near Bab al-Mandab. Rhetoric also remains tense, with US President Trump saying, regarding potential escalation with Iran, that it is certainly possible and still has the ability to escalate. Furthermore, US President Trump, responding to Iran’s requests for compensation during the conflict, said he was demanding compensation from Iran. Market focus remains around the prospect of getting oil flowing through both the Hormuz and Bab el Mandeb, with a US-Iran deal proving elusive and the Iran-Oman Hormuz deal unfavourable for Washington. Brent resides in a USD 87.41-90.02/bbl after topping yesterday’s USD 87.93/bbl high. WTI trades towards the top end of a USD 81.91-84.46/bbl range, vs yesterday’s 82.38/bbl peak. Dutch TTF is flat after finding resistance around EUR 62.50/MWh but remains north of EUR 60/MWh.
- Precious metals are weaker as energy prices continue to edge higher, adding to inflationary and growth concerns. Spot gold resides around its 100 DMA (USD 4,389/oz) in a current USD 4,356-4,435/oz range, vs yesterday’s 4,395/oz peak, with the 200 DMA at USD 4,497/oz. Spot silver is similarly subdued towards the bottom of a USD 64.23-66.48/oz.
- Base metals are mixed/flat, with downside from energy cushioned amid ongoing hopes of Chinese stimulus. 3M LME copper resides in a narrow USD 14,103.00- 14,199.40/t range at the time of writing.
- Iranian Oil Minister said 95mln cubic meters of gas will return to the production cycle by the end of September.
- Romania said it is to shut down its second nuclear reactor in the next 48 hours amid low water levels at Danube.
- Chile’s Codelco copper production fell 4.8% Y/Y to 114,400 tonnes in June, Escondida copper mine production rose 45.8% Y/Y to 111,400 tonnes, Collahuasi mine copper production rose 1.7% Y/Y to 34,900 tonnes in June, according to Cochilco.
Central Banks
- RBA kept the Cash Rate unchanged at 4.35%, as expected, with the decision unanimous, while it stated that inflation is still elevated and risks are skewed to the upside, but noted financial conditions appear to be somewhat restrictive and it trimmed its CPI forecasts. RBA stated that the Board will remain attentive to incoming data and the evolving assessment of the outlook and risks when guiding its decisions, while it remains focused on preventing high inflation from becoming entrenched and will continue to do what it considers necessary to return inflation sustainably to target, including raising the Cash Rate further if upside risks materialise. It also stated that inflation remains too high and is not expected to return to around the midpoint of the target range until late 2027, with upside risks to that projection. However, it also stated following three increases since the start of the year, financial conditions are now tighter than previously and the economy appears to be slowing as expected, as well as stated that financial conditions in Australia appear somewhat restrictive and the economy is expected to return to balance in 2027, a little earlier than previously forecast.
- In the post-policy press conference, RBA Governor Bullock said they see upside risks to inflation and that they will raise rates again if needed. She added that they did not discuss a rate cut at the meeting, only a raise or hold.
- The BoJ may consider an additional interest rate increase at its next policy meeting September 17th-18th, following a hike in June, in response to rising risks of higher inflation, according to informed sources cited by Jiji.
Geopolitics: Iran
- There was a maritime incident reported in Bab al-Mandab, with Fars reporting that a Saudi ship was reportedly targeted by the Yemeni army. In other news, Yemeni sources said a second missile targeted a ship while the coast guard was rescuing its crew in Bab al-Mandab.
- The UKMTO has received a report of an incident involving a tanker and military forces in the Gulf of Oman.
- Iranian Foreign Minister Araghchi said the world should hold the US accountable for the Hormuz block, while Hormuz security requires end to US aggression, according to Fars News Agency.
- Yemen military source said government forces launched a concentrated attack on militia positions in Harib, Shabwa, according to Al Arabiya.
- Explosions reported in Yemen’s Marib, according to SNN.
- Lebanon and Israel are expected to hold the next round of talks in early September, according to Al-Arabiya.
- Israeli forces conducted new strikes in southern Lebanon, according to SNN.
Geopolitics: Ukraine
- Kyiv’s mayor said there were explosions in the capital and that the city was under ballistic attack.
- Ukraine’s Military said it attacked an oil refinery in Russia’s Orsk.
- Turkey is said to be discussing a mechanism with Russia and Ukraine a mechanism to prevent attacks on ships in the Black Sea, RIA reported citing a Turkish cabinet source.
US Event Calendar
- 6:00 am: Jul NFIB Small Business Optimism, est. 97.5, prior 97.4
- 10:00 am: Jul Existing Home Sales, est. 4.05m, prior 4.09m
- 11:00 am: New York Fed Credit Report
- 12:00 pm: Fed’s Goolsbee Appears on WIRED Tech Support
DB’s Jim Reid concludes the overnight wrap
Yesterday I was looking for something to cool us down here in Europe and, helpfully, it arrives tomorrow evening in the form of a solar eclipse. Totality is reserved for those in Greenland, Iceland, Spain (and a small part of Portugal), and northern Russia. Here in the UK, coverage should reach around 90-96%, with slightly lower percentages across much of continental Europe. So enjoy the brief dip in temperature and the chance to see daylight dim for a few minutes before the next heatbomb arrives on Thursday.
If the eclipse offers a temporary darkening of the skies, markets found a darker cloud in the inflation outlook yesterday, as oil prices rose again amid the absence of a deal to reopen the Strait of Hormuz, fuelling fresh speculation about rate hikes. In fact, Brent crude (+4.99% to $87.72/bbl) rallied past $85/bbl for the first time this month, whilst the 10yr Treasury yield (+6.2bps) unwound the entirety of its decline after Friday’s payrolls with September Fed hike pricing returning to above 50% ahead of tomorrow’s CPI. So after last week when it felt like the doves were in the ascendant again, the latest news has pushed things in a more hawkish direction, with yields and commodity prices both moving higher.
In terms of the latest from the Middle East, there was still no sign of a deal to reopen the Strait of Hormuz and we also saw an escalation in the rhetoric between the US and Iran. From the Iranian side, a spokesman for its foreign ministry said yesterday that, while negotiations with Oman were “progressing smoothly and constructive”, the reopening was “contingent on the US ceasing its illegal actions, lifting the siege, and compensating for damages”. This request for reparations drew a rebuke from Trump, who posted that he was “likewise demanding compensation from Iran” for people killed by Iran in conflicts as well as in quashing protests. He added that this demand would be put “firmly into any, and all, future negotiations”. This follows Trump’s interview with Axios on Sunday, where he said that “We are only semi-negotiating with them. We are just watching Iran with its huge inflation and the fact they have no money.” So there’s no sign of the gap between the two sides narrowing towards any imminent deal, while shipping via Hormuz remains at a virtual standstill.
The more pessimistic narrative meant that Brent crude oil (+4.99%) moved up for a 4th consecutive session yesterday, closing at $87.72/bbl. In addition, fears of a more protracted standoff were also gaining momentum, with the 6-month Brent future (+4.44%) also up to $80.24/bbl. So that helped to revive inflation fears on both sides of the Atlantic, with the 1yr Euro inflation swap (+12.6bps) back up to 2.39% yesterday. And that in turn led to mounting speculation about central bank rate hikes, with investors pricing in a more hawkish path for the months ahead. At the Fed, pricing for a September hike moved back up to a 52% chance, up from 44% last Friday. And at the ECB, a September hike was back up to a 90% chance, up from 85% last Friday.
That backdrop of higher oil prices and rate hike speculation meant it was a tricky session for sovereign bonds around the world. This was clear across the curve, with the US 2yr yield (+4.7bps) back up to 4.24%, the 10yr yield (+6.2bps) up to 4.71%, and the 30yr yield (+5.0bps) up to 5.25%. Moreover, there were even bigger moves in Europe where the economy is more exposed to the oil shock, with 10yr yields on bunds (+4.7bps), OATs (+6.4bps) and BTPs (+6.5bps) all posting a decent rise as well. So there was a consistent picture of yields moving closer back to the highs from late-July.
With the move higher in oil extending as the session went on, risk assets struggled to get traction, with the S&P 500 (-0.06%) seeing a marginal pull back from Friday’s all-time high. The NASDAQ (-0.32%) and Russell 2000 (-0.56%) also lost ground, though energy (+4.63%) and health care (+1.68%) sectors helped limit the S&P 500’s decline. Leading yesterday’s losses were chipmakers, with the Phily semi index dropping -2.94% after its +9.25% rebound last week.
In AI news, Intel (-4.06%) is planning a $15bn offering of new stock, which would be the chipmaker’s first share sale since 1971. And then shortly after the US close we heard Nvidia (-2.86% yesterday) announce that it is teaming up with several investment firms to mobilize $500bn “to create dedicated pools of capital at significant scale at attractive rates for Nvidia customers”. After the softer US close S&P 500 (+0.14%) and NASDAQ 100 (+0.37%) futures are edging higher though.
In Europe, it was a marginally more positive story, with the STOXX 600 (+0.03%) inching up to a new record, having now posted 6 consecutive gains for the first time since May. That included a new record for the DAX (+0.02%) and the CAC 40 (+0.13%), but the FTSE 100 (-0.35%) slipped back.
Overall, risk sentiment so far this month has held up better than at the same time in recent years, as early-August has often gone hand-in-hand with downturn fears and a risk-off move. For instance, this time last year saw an underwhelming jobs report that set the stage for more Fed rate cuts in September. And two years ago we had the yen carry trade blowup, which led to huge (albeit brief) volatility before the Fed then delivered a 50bp rate cut in September. So the recent buoyancy in risk assets makes a change from the usual early-August pattern of the last few years and may have saved a few holidays, albeit with the situation in Iran still on a knife edge.
In Asia the KOSPI is up +1.46%, but with mainland China broadly flat and the Hang Seng declining -0.60%. Japanese markets are closed today for a public holiday. In Australia the RBA has just left rates unchanged as expected as we go to press.
Meanwhile in Japan, the yen is fairly flat after slipping back yesterday post the recent intervention, weakening -0.96% to 159.29 against the US Dollar as it fell against every other G10 currency. Over the past week the yen has now given up about half of the rally that saw it move from about 163 against the dollar just before intervention began on July 30 to an intra-day high of 155.23 on August 3.
Looking at the day ahead, it’s a quiet one on the calendar, but US data releases include existing home sales for July, and the NFIB’s small business optimism index for July.
1b European opening report
ES/NQ primed for flat open despite energy strength; Fixed income bearish, FX quiet – Newsquawk US Market Open
Tuesday, Aug 11, 2026 – 06:38 AM
- There was a maritime incident reported in Bab al-Mandab, with Fars reporting that a Saudi ship was reportedly targeted by the Yemeni army.
- Separately, the UKMTO has received a report of an incident involving a tanker and military forces in the Gulf of Oman.
- RBA maintained rates as expected and kept a hawkish tone, but trimmed its CPI forecasts; AUD saw mild pressure.
- US equity futures are muted while European bourses fall on higher energy prices (Brent +2.2%).
- Fixed income benchmarks fall but on low volumes ahead of US CPI on Wednesday.
- Looking ahead, highlights include US ADP Employment Change Weekly, Existing Home Sales (Jul), Supply from the US, Earnings from Supermicro & CoreWeave.
SNAPSHOT
As of 10:50BST / 05:50EDT
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EUROPEAN TRADE
EQUITIES
- European bourses trade mostly in the red, outside of the AEX and IBEX 35, as higher energy prices weigh on indices. The source of the move higher in energy came amid reports that a Saudi ship was reportedly targeted near Bab-al-Mandab. As a reminder, the Houthis have vowed in recent days to continue operations targeting Saudi oil tankers.
- Sectors have a negative bias. Energy is the only sector with clear gains, given the upside in energy benchmarks (Brent +2.5%). The sector laggard is Travel & Leisure, with Insurance and Construction rounding out the underperformers.
- US equity futures are essentially flat. Focus today will be after-hours, with CoreWeave and Supermicro set to report earnings. For CoreWeave, guidance will be highly watched, as the Co. has said that the benefits of the recent investments in data centre capacity should start showing in H2’26. In other news, Nvidia (NVDA) confirmed it has partnered with Apollo (APO), Blackrock (BLK), Blackstone (BX), Brookfield, Goldman Sachs (GS) and KKR (KKR) to establish AI compute infrastructure financing platforms to mobilise over USD 500bln of third-party capital.
- Click for the sessions European pre-market equity newsflow
- Click for the additional news
FX
- Quiet action across G10s sees most currencies flat against the Buck with geopolitics driving the little moves seen.
- DXY attempting to build on Monday’s gains, now looking towards the 100.00 mark as elevated energy benchmarks continue to support the Greenback (see commodities), price action which has supported a couple more bps of tightening across Fed expectations. Focus this week is overwhelmingly on the CPI print, especially since FT sources before NFP suggested Warsh was focused on the inflation side of the mandate heading into the September meeting. Data scheduled today includes the weekly ADP release, while the Fed speaker slate is light.
- AUD broadly unchanged after the RBA left rates unchanged, in line with analyst/market expectations. Some immediate AUD weakness on the statement as it tweaked language around inflation vigilance (“prepared to increase the cash rate if required” -> “…if upside risks materialise”), added the description of policy as “somewhat restrictive”, and revised inflation forecasts lower, points which reinforce the view the bank is comfortable and set to remain on hold until mid-2027 as markets expect. However, the hawkish presser, “Possible we need to hike again” saw a reversal of that kneejerk lower, leaving AUD/USD just 10 pips lower at 0.7050. Some banks still caution there are hawkish risks to the outlook, while ING, Westpac and MUFG are some of the banks maintaining calls for unch. in 2026; RBA market pricing reflects the same, steady post-announcement.
- Some continued strength in energy exporters against the Dollar as geopolitics lacks positive updates, with CAD (+0.1%) and NOK (+0.1%). The latter has passed 1.00 in the Scandi cross (NOK/SEK +0.2%) as SEK suffers as a net importer. Action elsewhere is quiet, GBP, JPY, CHF all flat against the USD; EUR also unch. vs. the Buck, though firmer against most CEE, HUF to the largest degree.
FIXED INCOME
- A bearish session for the space, after being relatively contained overnight despite the incremental upticks in energy seen after POTUS commentary and the general lack of progress.
- However, the bias became much more apparent in the early European morning, as energy lifted from a maritime incident in Bab al-Mandab (see Commodities for more details). Amidst this, USTs fell from 108-09 to 108-04, lower by 7+ ticks at most.
- Bunds and Gilts follow suit directionally, down to lows of 124.28 and 86.33 respectively. Lower by 21 and 53 ticks, respectively. The docket for both is light. The German Bobl auction was broadly in line with the prior auction, but it did result in modest upticks in Bund futures.
- Germany sells EUR 4.627bln vs Exp. 6bln 2.90% 3031 Bobl: b/c 1.48x (prev. 1.48x), average yield 2.93% (prev. 2.89%), retention 22.9% (prev. 24.1%).
COMMODITIES
- WTI Sep and Brent Oct futures are on a firmer footing with upside this morning seen amid reports a Saudi ship was targeted near Bab al-Mandab. Rhetoric also remains tense, with US President Trump saying, regarding potential escalation with Iran, that it is certainly possible and still has the ability to escalate. Furthermore, US President Trump, responding to Iran’s requests for compensation during the conflict, said he was demanding compensation from Iran. Market focus remains around the prospect of getting oil flowing through both the Hormuz and Bab el Mandeb, with a US-Iran deal proving elusive and the Iran-Oman Hormuz deal unfavourable for Washington. Brent resides in a USD 87.41-90.02/bbl after topping yesterday’s USD 87.93/bbl high. WTI trades towards the top end of a USD 81.91-84.46/bbl range, vs yesterday’s 82.38/bbl peak. Dutch TTF is flat after finding resistance around EUR 62.50/MWh but remains north of EUR 60/MWh.
- Precious metals are weaker as energy prices continue to edge higher, adding to inflationary and growth concerns. Spot gold resides around its 100 DMA (USD 4,389/oz) in a current USD 4,356-4,435/oz range, vs yesterday’s 4,395/oz peak, with the 200 DMA at USD 4,497/oz. Spot silver is similarly subdued towards the bottom of a USD 64.23-66.48/oz.
- Base metals are mixed/flat, with downside from energy cushioned amid ongoing hopes of Chinese stimulus. 3M LME copper resides in a narrow USD 14,103.00- 14,199.40/t range at the time of writing.
- Iranian Oil Minister said 95mln cubic meters of gas will return to the production cycle by the end of September.
- Romania said it is to shut down its second nuclear reactor in the next 48 hours amid low water levels at Danube.
- Chile’s Codelco copper production fell 4.8% Y/Y to 114,400 tonnes in June, Escondida copper mine production rose 45.8% Y/Y to 111,400 tonnes, Collahuasi mine copper production rose 1.7% Y/Y to 34,900 tonnes in June, according to Cochilco.
NOTABLE EUROPEAN HEADLINES
- Swedish NIER Economic Forecasts: Raises 2026 GDP growth forecast to 2.4% (prev. 2.2%), maintains 2027 GDP growth; Maintains 2026 CPIF, cuts 2027 CPIF to 2.2% (prev. 2.1%).
NOTABLE EUROPEAN DATA RECAP
- Italian Trade Balance (Jun) 4.232 vs. Exp. 4.74 (Prev. 4.793).
- UK BRC Retail Sales Monitor (Jul YY) 1.0% vs. Exp. 1.5% (Prev. 1.7%).
CENTRAL BANKS
- RBA kept the Cash Rate unchanged at 4.35%, as expected, with the decision unanimous, while it stated that inflation is still elevated and risks are skewed to the upside, but noted financial conditions appear to be somewhat restrictive and it trimmed its CPI forecasts. RBA stated that the Board will remain attentive to incoming data and the evolving assessment of the outlook and risks when guiding its decisions, while it remains focused on preventing high inflation from becoming entrenched and will continue to do what it considers necessary to return inflation sustainably to target, including raising the Cash Rate further if upside risks materialise. It also stated that inflation remains too high and is not expected to return to around the midpoint of the target range until late 2027, with upside risks to that projection. However, it also stated following three increases since the start of the year, financial conditions are now tighter than previously and the economy appears to be slowing as expected, as well as stated that financial conditions in Australia appear somewhat restrictive and the economy is expected to return to balance in 2027, a little earlier than previously forecast.
- In the post-policy press conference, RBA Governor Bullock said they see upside risks to inflation and that they will raise rates again if needed. She added that they did not discuss a rate cut at the meeting, only a raise or hold.
- The BoJ may consider an additional interest rate increase at its next policy meeting September 17th-18th, following a hike in June, in response to rising risks of higher inflation, according to informed sources cited by Jiji.
GEOPOLITICS
MIDDLE EAST
- There was a maritime incident reported in Bab al-Mandab, with Fars reporting that a Saudi ship was reportedly targeted by the Yemeni army. In other news, Yemeni sources said a second missile targeted a ship while the coast guard was rescuing its crew in Bab al-Mandab.
- The UKMTO has received a report of an incident involving a tanker and military forces in the Gulf of Oman.
- Iranian Foreign Minister Araghchi said the world should hold the US accountable for the Hormuz block, while Hormuz security requires end to US aggression, according to Fars News Agency.
- Yemen military source said government forces launched a concentrated attack on militia positions in Harib, Shabwa, according to Al Arabiya.
- Explosions reported in Yemen’s Marib, according to SNN.
- Lebanon and Israel are expected to hold the next round of talks in early September, according to Al-Arabiya.
- Israeli forces conducted new strikes in southern Lebanon, according to SNN.
RUSSIA-UKRAINE
- Kyiv’s mayor said there were explosions in the capital and that the city was under ballistic attack.
- Ukraine’s Military said it attacked an oil refinery in Russia’s Orsk.
- Turkey is said to be discussing a mechanism with Russia and Ukraine a mechanism to prevent attacks on ships in the Black Sea, RIA reported citing a Turkish cabinet source.
CRYPTO
- Bitcoin pares some of Monday’s selloff, but holds below the 20-SMA of USD 64.15k.
APAC TRADE
- APAC stocks traded mixed following a lacklustre lead from Wall Street, where risk sentiment was constrained by higher oil prices and yields amid geopolitical uncertainty, while conditions in Asia were thinned due to the Japanese holiday closure.
- ASX 200 gained amid strength in energy and miners following recent upside in underlying commodity prices, but with upside capped after weak NAB business confidence and heading into the RBA which kept rates unchanged as expected and maintained its hawkish tone, although it was slightly less hawkish, with the central bank acknowledging that financial conditions in Australia appear somewhat restrictive and it also trimmed CPI forecasts.
- KOSPI climbed alongside a rebound in tech and with notable gains in Samsung Electronics.
- Hang Seng and Shanghai Comp were lacklustre after the PBoC opted for zero liquidity operations today, although the downside in the mainland was cushioned following prior reports that China issued the first new round of consumption vouchers aimed at boosting spending.
NOTABLE ASIA-PAC HEADLINES
- China’s CPCA said China sold 1.47mln passenger cars in July (vs 1.651mln in June, -21.1% Y/Y); Tesla (TSLA) exported 66,330 vehicles in July (vs 36,000 in June).
NOTABLE APAC DATA RECAP
- South Korean August 1st-10th Exports rose 45.3% Y/Y, Imports rose 23.1% Y/Y, Trade Balance at a provisional surplus of USD 1.8bln.
- Australian NAB Business Confidence (Jul) -6 (Prev. -5).
- Australian NAB Business Conditions (Jul) 4 (Prev. 3).
1 c Asian opening report
Europe set for quiet open despite firmer energy prices; AUD lags after less-hawkish RBA – Newsquawk EU Market Open
Tuesday, Aug 11, 2026 – 01:32 AM
- US President Trump said, regarding potential escalation with Iran, that it is certainly possible and still has the ability to escalate.
- US President Trump, responding to Iran’s requests for compensation during the conflict, said he was demanding compensation from Iran.
- RBA maintained rates as expected and kept a hawkish tone, but trimmed its CPI forecasts; AUD saw mild pressure.
- APAC stocks traded mixed following a lacklustre lead from Wall Street; European equity futures indicate a flat cash market open.
- DXY traded little changed, 10yr UST futures remained subdued, Crude futures held on to the prior day’s spoils after rallying by more than 5%.
- Looking ahead, highlights include US ADP Employment Change Weekly, Existing Home Sales (Jul), Comments from RBA’s Governor Bullock, Supply from Germany & US, Earnings from Supermicro & CoreWeave.
LOOKING AHEAD
- Highlights include US ADP Employment Change Weekly, Existing Home Sales (Jul), Comments from RBA’s Bullock, Supply from Germany & US, Earnings from Supermicro & CoreWeave.
- Click for the Newsquawk Week Ahead.
Newsquawk in 3 steps:
1. Subscribe to the free premarket movers reports
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
IRAN CONFLICT
- US President Trump, responding to Iran’s requests for compensation during the conflict, said he was demanding compensation from Iran for “all of the people that they have killed and gravely wounded with their roadside bombs and many conflicts.” He added Iran had never mentioned compensation during their meetings or negotiations and said he had instructed officials to firmly put the issue into any and all future negotiations. Trump also stated that with respect to negotiations, Iran should also be responsible for damages and death caused to the people of Lebanon, Syria, Yemen, and Gaza.
- US President Trump said regarding potential escalation with Iran that it is certainly possible and still has the ability to escalate. Trump also stated the Strait is open now, and the US is the only one that has control, with the entire area mine-swept and control 100%.
- Iranian Foreign Minister Araghchi said the world should hold the US accountable for the Hormuz block, while he stated Hormuz security requires an end to US aggression, according to Fars News Agency.
- Iranian Supreme Leader Khamenei appointed six new military commanders with Major General Ali Abdullahi as Chief of Staff of the Armed Forces, Brigadier General Kiyomars Heydari as Deputy Chief of Staff of the Armed Forces, while Brigadier General Ahmad Vahidi was promoted to Major General and the Commander-in-Chief of the Islamic Revolutionary Guard Corps.
- Iranian Quds Force commander Ismail Qaani arrived in Baghdad to discuss the issue of weapons control in Baghdad. Furthermore, an Iraqi source revealed an upcoming meeting of the Iraqi Shiite Coordination Framework in Baghdad, with the participation of Iranian Parliament Speaker Ghalibaf.
- Israeli forces conducted heavy attacks on Rafah in the southern Gaza Strip, according to SNN.
- Israeli Broadcasting Authority cited sources that stated the next round of negotiations with Lebanon has been delayed due to tensions between the two sides. However, it was separately reported that Lebanon and Israel are expected to hold the next round of talks in early September.
- Hezbollah is trying to sabotage Lebanon-Israel talks, according to a US State Department official.
- Explosions were reported in Yemen’s Marib and Mocha, while a Yemen military source said the government forces launched a concentrated attack on militia positions in Harib and Shabwa.
US TRADE
EQUITIES
- US stocks saw modest pressure on Monday amid relatively quiet newsflow, with the Russell 2000 leading the downside while the equal-weight S&P 500 (RSP) finished little changed, pointing to relatively flat underlying breadth. On a sector basis, Energy heavily outperformed as crude prices climbed, while Real Estate, Utilities and Technology lagged. The gains in oil largely reflected continued geopolitical uncertainty in the Middle East as the situation surrounding the Strait of Hormuz remains fluid, with repeated suggestions that progress is being made but little concrete evidence of a breakthrough. US President Trump said the US is only “semi-negotiating” with Iran, while Iran’s Supreme National Security Council issued six demands for reopening Hormuz, including full compensation, sanctions relief, the release of frozen assets, an end to the blockade and the withdrawal of US forces from the region. Trump, however, said the US also wants compensation from Iran for damages, potentially complicating negotiations further.
- SPX -0.05% at 7,753, NDX -0.34% at 26,622, DJI -0.11% at 53,976, RUT -0.50% at 3,019.
- Click here for a detailed summary.
TARIFFS/TRADE
- China noted that beef imports from Brazil have hit 90% of their quota, and once the cap is reached, an additional 55% tariff will apply to imports exceeding the quota three days later.
NOTABLE HEADLINES
- Fed’s Hammack (Voter, Hawkish dissenter) said the current rate is not meaningfully restricting the economy and would probably need some number of rate hikes, while she has no intention to prejudge the number of rate increases or the final level. Hammack said in general, one 25bps move probably doesn’t do a whole lot for the economy, and that now is the time to act, while she cautioned that the longer the Fed waits, the longer it misses its inflation goal of 2% and the harder inflation will be to bring back down. Furthermore, she said markets are a complement for the Fed, not a substitute, and they have to stand behind their words and actions when appropriate, adding that she is going to factor in how markets are performing, and how they’re interpreting what the Fed is saying, but ultimately it is not a substitute for taking action when it’s necessary.
- US President Trump said he spoke to Fed Chair Warsh a couple of days ago and has spoken to him once since he took over.
- US President Trump said vaccinations for Hepatitis B, Covid-19, and Influenza, among others, are no longer recommended for all children, while he added that child vaccines will still be covered by insurance.
APAC TRADE
EQUITIES
- APAC stocks traded mixed following a lacklustre lead from Wall Street, where risk sentiment was constrained by higher oil prices and yields amid geopolitical uncertainty, while conditions in Asia were thinned due to the Japanese holiday closure.
- ASX 200 gained amid strength in energy and miners following recent upside in underlying commodity prices, but with upside capped after weak NAB business confidence and heading into the RBA which kept rates unchanged as expected and maintained its hawkish tone, although it was slightly less hawkish, with the central bank acknowledging that financial conditions in Australia appear somewhat restrictive and it also trimmed CPI forecasts.
- KOSPI climbed alongside a rebound in tech and with notable gains in Samsung Electronics.
- Hang Seng and Shanghai Comp were lacklustre after the PBoC opted for zero liquidity operations today, although the downside in the mainland was cushioned following prior reports that China issued the first new round of consumption vouchers aimed at boosting spending.
- US equity futures were off yesterday’s troughs, but with price action contained amid quiet catalysts.
- European equity futures indicate a flat cash market open with Euro Stoxx 50 futures down U/C after the cash market closed with gains of 0.2% on Monday.
FX
- DXY traded little changed after mildly gaining against nearly all major peers, albeit with price contained amid sparse newsflow and a lack of data, although there were some comments from Fed’s Hammack that the current rate is not meaningfully restricting the economy and would probably need some number of rate hikes, but she has no intention to prejudge the number of rate increases or the final level. The rhetoric from the hawkish dissenter did little to shift the dial, while looking ahead, the data remains light today but begins to pick up, and the main highlight this week is the US CPI report on Wednesday.
- EUR/USD lacked direction after marginally softening yesterday, with price action confined to within a narrow range at the 1.1500 handle amid quiet newsflow from the bloc.
- GBP/USD took a breather following the prior day’s gains and reclaim of the 1.3500 level, albeit in a choppy fashion, while there was little reaction overnight to the disappointing UK BRC Retail Sales data.
- USD/JPY continued its gradual recovery from post-intervention lows and sits above the 159.00 level despite increasing expectations for a faster pace of BoJ rate increases, with money markets pricing a near coin-flip for a September rate hike after the recent hawkish Summary of Opinions and suggestions that the central bank may be forced to act following the recent Japan-US joint intervention on the yen.
- Antipodeans were range-bound as participants awaited the RBA rate decision, while mild pressure was seen after the central bank kept rates unchanged as expected and kept a hawkish tone, but acknowledged financial conditions in Australia appear somewhat restrictive and it trimmed CPI forecasts.
- PBoC set USD/CNY mid-point at 6.7900 vs exp. 6.7497 (prev. 6.7884)
FIXED INCOME
- 10yr UST futures remained subdued following the prior day’s declines as the recent rally in oil lifted yields and stoked inflationary concerns, with demand overnight not helped by the closure of cash treasuries trade due to the Tokyo holiday, while US supply is also scheduled later.
- Bund futures extended beneath the prior day’s trough after the recent upside in energy prices and with a EUR 6bln Bobl issuance due today, ahead of tomorrow’s EUR 2bln Bund auction.
COMMODITIES
- Crude futures held on to the prior day’s spoils after rallying by more than 5% in the absence of a Strait of Hormuz deal and with efforts to reopen the waterway dampened by tit-for-tat demands by Iran and US President Trump for reparations.
- Libya’s NOC said the Zawiya oil blending plant was attacked by a drone, although there was no damage or casualties, while the drone attack was the third targeting oil assets in Zawiya over Sunday and Monday. It also warned that it will be forced to declare a force majeure and completely halt operations at Zawiya refinery if the attacks continue. Furthermore, Libyan media later reported that a suicide drone targeted fuel tanks at the Zawiya oil refinery again.
- Spot gold extended on this month’s advances to a 2-month high above the USD 4,400/oz level.
- Copper futures kept afloat but with further upside contained as Chinese markets lagged.
- Chile’s Codelco copper production fell 4.8% Y/Y to 114,400 tonnes in June, Escondida copper mine production rose 45.8% Y/Y to 111,400 tonnes, and Collahuasi mine copper production rose 1.7% Y/Y to 34,900 tonnes in June, according to Cochilco
CRYPTO
- Bitcoin eked out mild gains and reclaimed the USD 64,000 level.
NOTABLE ASIA-PAC HEADLINES
- RBA kept the Cash Rate unchanged at 4.35%, as expected, with the decision unanimous, while it stated that inflation is still elevated and risks are skewed to the upside, but noted financial conditions appear to be somewhat restrictive and it trimmed its CPI forecasts. RBA stated that the Board will remain attentive to incoming data and the evolving assessment of the outlook and risks when guiding its decisions, while it remains focused on preventing high inflation from becoming entrenched and will continue to do what it considers necessary to return inflation sustainably to target, including raising the Cash Rate further if upside risks materialise. It also stated that inflation remains too high and is not expected to return to around the midpoint of the target range until late 2027, with upside risks to that projection. However, it also stated following three increases since the start of the year, financial conditions are now tighter than previously and the economy appears to be slowing as expected, as well as stated that financial conditions in Australia appear somewhat restrictive and the economy is expected to return to balance in 2027, a little earlier than previously forecast.
- BoJ may consider an additional interest rate increase at its next policy meeting September 17th-18th, following a hike in June, in response to rising risks of higher inflation, according to informed sources cited by Jiji.
- New Zealand’s PM Luxon is calling for an urgent in-person meeting with lawmakers on Wednesday to address leadership speculation.
DATA RECAP
- Australian NAB Business Confidence (Jul) -6 (Prev. -5)
- Australian NAB Business Conditions (Jul) 4 (Prev. 3)
GEOPOLITICS
MIDDLE EAST
- US brokered an agreement between the IAEA and the new Syrian government to remove nuclear material from a clandestine facility known as “Site 99,” according to Axios citing US and Israeli officials.
RUSSIA-UKRAINE
- Kyiv’s mayor noted explosions in Ukraine’s capital and that the city was under ballistic attack.
EU/UK
NOTABLE HEADLINES
- UK PM Burnham is to crack down on vape and betting shops in an effort to rejuvenate Britain’s high streets, with councils to be given extra powers to curb unwanted retailers and ‘bring town centres back to life’, according to FT
DATA RECAP
- UK BRC Retail Sales Monitor (Jul YY) 1.0% vs. Exp. 1.5% (Prev. 1.7%)
end
2.NORTH AND SOUTH KOREA//JAPAN
SOUTH KOREA
Everyone Got Blown Out Of Korea. Now It Gets Interesting
This refers to the recent South Korean stock market (KOSPI) boom-bust cycle centered on AI/semiconductor stocks, especially Samsung Electronics and SK Hynix.
@themarketear
In the first half of 2026, the KOSPI surged dramatically (reaching records near or above 9,000 in June), driven by the AI memory/HBM boom. Retail investors (often called “ants”) piled in aggressively with heavy leverage, margin loans, and newly available single-stock leveraged ETFs tied to the two chip giants (which dominate the index). Foreign selling was offset by domestic retail buying. This created extreme volatility and a crowded trade.
reuters.com
Then came the sharp reversal starting late June into July: a multi-week rout with drawdowns approaching ~40% from the peak at points, multi-day double-digit percentage swings, repeated circuit breakers/sidecars, and massive market-value losses (on the order of $2 trillion at the worst). SK Hynix and Samsung led the declines amid profit-taking, questions about AI capex durability, and—most importantly—forced unwinding of leveraged positions. Margin calls, liquidations of accounts, and cascading selling from leveraged ETFs amplified the move far beyond pure fundamentals. Many retail investors suffered large losses.
archive.is
Regulators responded by tightening rules: suspending new single-stock leveraged/inverse ETF listings, raising minimum deposits (e.g., to 30 million won), and other curbs. Trading volumes in those products collapsed, outstanding margin balances fell substantially (to multi-month or year lows in some metrics), and forced liquidations spiked then eased. Volatility gauges that hit records have since retreated sharply.
businesstimes.com.sg
As of early-to-mid August 2026, the excess leverage has largely been flushed (“everyone got blown out”), valuations have reset meaningfully from the peak mania levels, and the market has shown signs of stabilization—recent sessions with modest gains (e.g., KOSPI around the mid-6,000s, supported at times by bargain-hunting, strong semiconductor export data, and chip stock rebounds). KOSDAQ has sometimes outperformed or squeezed independently. The two heavyweights have lagged some broader rebounds at times, but the cleanup of speculative excess is seen by some observers (including the Market Ear piece you referenced) as creating a cleaner setup.
zerohedge.com
In short: the leverage-driven mania phase is over, the forced selling pressure has diminished, and the market is now in a post-puke phase where fundamentals (AI demand, memory cycle, exports, company earnings) can matter more relative to positioning. Whether it becomes “interesting” for a sustained recovery depends on those fundamentals holding up, global risk sentiment, and whether Samsung/SK Hynix reassert leadership—views differ, with some analysts already arguing the unwind is mostly complete and the long-term story intact.
END
3. CHINA
4. EUROPEAN AND SCANDINAVIAN COMMENTARIES PLUS NATO
UK
How stupid could the UK be?
(zerohedge)
Spy Cams On UK Navy Drones Secretly Transmitted Data To China
Tuesday, Aug 11, 2026 – 02:45 AM
An investigation into surveillance equipment fitted to Royal Navy unmanned vessels has raised concerns over military supply-chain security after cameras containing Chinese-made components were found communicating with an internet address in China.
The cameras were installed on K3 Scout unmanned surface vessels used by Royal Marines and other specialist British forces, according to a report by The Telegraph. The vessels form part of the Royal Navy’s push to expand its use of autonomous systems for surveillance and maritime operations.
A technical assessment reportedly discovered that the cameras were sending routine electronic signals to an IP address located in China. The communications were described as “heartbeat” traffic – automated messages commonly used by connected devices to confirm that they remain online and operational. The Ministry of Defence said investigators found no evidence that classified information, military systems or other sensitive data had been accessed or transmitted abroad. Nevertheless, internet connectivity associated with the cameras was removed after the issue was discovered.
The episode has renewed scrutiny of the increasingly complex international supply chains behind modern defense equipment, where a system designed and assembled in one country can contain electronic components manufactured across several others.
Concerns over sensitive military locations
The K3 Scout vessels have been used by the Royal Marines since earlier this year and are capable of extended autonomous operations. Their surveillance equipment is intended to give military personnel greater awareness of maritime activity without requiring crews to remain aboard the vessels.
Security concerns are heightened by reports that the craft have operated around sensitive defense facilities and personnel.
One concern is whether connected cameras could potentially expose information about individuals, training activities or locations even when the main platform itself is not actively conducting a mission. Reports that some camera functions may have remained active while vessels were otherwise powered down have added to calls for closer examination of how individual subsystems operate.
The Ministry of Defence said its routine cyber-security procedures were responsible for identifying the vulnerability and stressed that its investigation found no evidence of a compromise of departmental information.
Internal Audit
The K3 Scout fleet was supplied by British defense company Kraken Technology Group, which obtained the cameras through a third-party supplier.
Kraken said the equipment had been considered compliant with relevant US defense procurement requirements but acknowledged that a small number of components inside the cameras originated outside the UK. Following an audit conducted with the Royal Navy, the company said it was satisfied that sensitive information had not been transmitted through unintended channels and that identified vulnerabilities had been addressed.
The distinction highlights a broader problem for defense procurement. A product can comply with rules prohibiting equipment from specified manufacturers while still incorporating individual components produced in countries viewed as potential security risks. Modern cameras, drones and communications systems can contain processors, sensors, networking modules and firmware originating from numerous suppliers. That makes establishing the provenance and behavior of every component increasingly important – and increasingly difficult.
The K3 Scout is designed for long-duration maritime missions and can carry a substantial payload. The platform has also been tested internationally and has attracted interest beyond the UK.
For the Royal Navy, such vessels are part of a wider strategy to combine conventional warships with autonomous and remotely operated systems.
Uncrewed platforms can conduct surveillance, patrol dangerous areas and provide intelligence while reducing the number of personnel placed directly in harm’s way. Britain has committed billions of pounds to expanding military drone technology and accelerating the introduction of autonomous systems.
But greater reliance on digitally connected equipment also creates new vulnerabilities.
A conventional mechanical defect may prevent a vehicle from functioning. A compromised digital component could potentially create a less visible threat by transmitting information, receiving unauthorized instructions or revealing patterns of military activity.
Chinese technology remains a security concern
The discovery comes against a wider backdrop of British concern about technology and equipment with links to China. Successive governments have tightened restrictions on Chinese-made hardware in sensitive environments, while Huawei was removed from Britain’s 5G infrastructure plans following national-security concerns. UK intelligence agencies have also repeatedly warned about Chinese espionage and efforts to obtain sensitive political, commercial and technological information.
end
SPAIN /CUETTA/MIGRANTS (MOROCCO)
After Mass Migrant Invasion, 5 Girls Under 14 Reportedly Raped In Ceuta
Tuesday, Aug 11, 2026 – 02:00 AM
Health sources have confirmed that Ceuta University Hospital has treated at least five girls over the past week for alleged rapes following the mass migrant invasion of Ceuta last month.
All the girls are Moroccan and were reportedly under the age of 14 when they were raped, with an emergency doctor verifying the cases and noting that many of these minors are sleeping on the street because of a shortage of places in shelters.
Susana Ascaso, an emergency-room doctor at Ceuta University Hospital, confirmed in an interview published by the Spanish outlet El pueblo de Ceuta that her service is dealing with cases of rape involving migrant girls.
She described the victims as 14-year-old minors who remain on the street because reception centers for minors have no available places.
“It’s not that we refuse to receive them, it’s that there is no room for them,” the doctor said.
In addition to the Moroccan girls, at least one boy was also reportedly raped, bringing the total number of underage victims to six. There may also be more cases that have not been reported yet, as there are more than ten cases involving sexual assault that have been handled by the hospital.
The Spanish National Police have opened an investigation into the alleged rape of a minor who entered Ceuta during the recent mass arrival of migrants. The child was taken to hospital, where injuries consistent with sexual assault were recorded. No arrests have been announced and the precise details of the case remain undisclosed as the investigation continues.
Judicial sources also added that several attempted sexual attacks were prevented by the intervention of local residents.
Ascaso described the entire situation as a “health disaster,” with her department receiving an average of “300 to 400 migrants a day” while operating with the same staff and resources that existed before the massive migrant crisis in July.
After being discharged from the hospital, most patients have nowhere to go. She also warned of the risk of epidemic diseases.
“We do not know if people arrive with tuberculosis, hepatitis or other types of diseases that, today, we will not be able to detect either,” she said.
Meanwhile, the people of Ceuta are also competing for medical care with the migrants.
Ascaso said the “population of Ceuta continues to get sick and go” to hospital as well, where medical authorities have established two different areas, one for migrants and another for Ceuta residents, who “also have the right to receive assistance,” according to the doctor.
Organizations such as Save the Children have highlighted the heightened risk of human trafficking and sexual exploitation facing migrant girls and adolescents in Ceuta, largely because of gaps in identification, accommodation, and support.
Jennifer Zuppiroli, a migration specialist with the organization, stressed that an adolescent girl left alone and outside the protection system can find herself in a situation of great vulnerability.
The National Police have given priority to girls and children under 13 in their identification operations. Meanwhile, the Minister of Youth and Children, Sira Rego, has acknowledged a change in the profile of minors arriving in the city, marked by an increased presence of girls and very young children.
END
5.RUSSIAN AND MIDDLE EASTERN AFFAIRS
IRAN/ISRAEL TUESDAY
Iran’s Military Command Reshuffle Digs In For ‘Hardline’ Confrontation: US Must Meet All Demands For Hormuz Opening
Tuesday, Aug 11, 2026 – 12:10 PM
Summary
- Iran rejects peace push narrative: Tehran says Hormuz stays closed until the US accepts all its conditions.
- Hardliners take control: Iran reshuffles top military leadership, signaling a tougher stance.
- Pakistan pushes talks: Interior Minister arrives in Tehran for mediation efforts.
- US enforces blockade: American forces reportedly fired on a ship trying to breach the Iran blockade.
- Shipping attacks escalate in region: A Houthi attack reportedly killed three crew members, while another vessel was struck in the Gulf of Oman.
* * *
Iran Pours Cold Water on Pakistan’s Diplomatic Optimism
Pakistan started the day by floating optimistic reports of the warring sides reverting to ‘moving toward peace efforts’ – however that appears very short-lived, or really was probably never a reality, given soon on the heels of these claims a top Iranian official has reiterated that the Strait of Hormuz will remain closed until the US corrects its ‘behavior’. According to fresh reports out of state media sources:
Secretary of the Supreme National Security Council of Iran Rezaei says Strait of Hormuz will not open until the US changes its behavior and accepts Iran’s conditions.
This comes amid widespread reports that Iran has just undergone a significant military shuffling of top command leadership, which points to the ascent of the ‘hardliner’ crowd – as in those who are against signing an MoU deal with Washington…
The Wall Street Journal and others are picking up on Tehran’s obvious shift away from negotiations, and toward a more permanent state of military resistance. It writes: “Now, the new supreme leader, Khamenei’s son Mojtaba, is putting his own stamp on the country’s national-security policy amid a confrontation with the U.S. that could last months or even years.”
According to more of WSJ’s analysis:
In a sweeping overhaul of the government’s top echelon on Sunday and Monday, Iran named seasoned hard-liners to run the country’s security policies and institutions of repression.
It marked the most significant government reshuffle under Mojtaba Khamenei, who hasn’t been seen in public since the war began. U.S. intelligence agencies say he is alive but severely injured, and top Iranian cabinet members say they have never met him since he took office. Iranian officials say he was injured but in good health.
Analysts said the appointments signaled Khamenei’s determination to hold fast in a showdown with President Trump, who is seeking concessions on Iran’s nuclear program and the Strait of Hormuz.
“The regime is preparing for a more confrontational posture at home and abroad,” said Kasra Aarabi, an expert on the Islamic Revolutionary Guard Corps, a powerful paramilitary force, at United Against Nuclear Iran, a policy organization that opposes Iran’s government.
For some – especially the non-interventionists, it was obvious the war would take this course from day one.
‘Return of Peace Efforts’ Headline Pushes Oil Down
Despite what are clearly ongoing attacks on international vessels in regional waters, suddenly mediators are feeling optimism again, and decided to float another apparent round of pre-US market open headlines suggesting peace could return.
Though there’s as yet no evidence of this, the Pakistani Defense Minister has signaled that the US and Iran are close to some agreement and that the situation is moving towards peace. Oil prices promptly plummeted ahead of market open. Pakistan’s interior minister Mohsin Raza Naqvi, has also just arrived in Tehran for talks with Iranian officials amid going mediation efforts, according to Iran’s Mehr news agency.
US
IRAN/ISRAEL /USA/ TUESDAY
US Fires On Ship Attempting To Break Iran Blockade, Amid Several Regional Maritime Attacks
Tuesday, Aug 11, 2026 – 08:50 AM
Despite what are clearly ongoing attacks on international vessels in regional waters, suddenly mediators are feeling optimism again, and decided to float another apparent round of pre-US market open headlines suggesting peace could return.
Though there’s as yet no evidence of this, the Pakistani Defense Minister has signaled that the US and Iran are close to some agreement and that the situation is moving towards peace. Oil prices promptly plummeted ahead of market open. Pakistan’s interior minister Mohsin Raza Naqvi, has also just arrived in Tehran for talks with Iranian officials amid going mediation efforts, according to Iran’s Mehr news agency.
This came ironically just as reports of more serious shipping incidents, at least one of them deadly, emerged in regional waters, but perhaps the brief ‘peace is near’ headline redux had its intended effect on markets.
And significantly, the US is clearly still enforcing its military blockade of Iranian ports – and so no, the warring sides do not seem ‘close’ to a return to deal-making, instead the ground reality is quite the opposite:
US forces reportedly fired on a Panama-flagged ship that attempted to run the American blockade of Iranian ports early Tuesday, according to WSJ citing a US official.
“A U.S. military helicopter fired at the rudder of the ship after its crew ignored warnings from American personnel working to enforce the naval blockade of Iran’s ports, the official said,” The Wall Street Journal details:
“There were no immediate reports of any casualties in the incident, which took place before dawn on Tuesday. The U.S. official said the ship appeared to be attempting to transfer its crew to another civilian vessel after the attack,” the report adds.
There’s been a major deadly attack on a commercial ship in the Red Sea and Bab al-Mandeb Strait region off Yemen on Tuesday, amid the ongoing escalation against Saudi shipping by the Houthis.
Yemen’s internationally recognized government has announced that at least three people have been killed in a Houthi attack on an unidentified commercial ship in the Bab al-Mandeb Strait, however there’s been no immediate confirmation forthcoming from the Houthis themselves.
The small vessel has been identified as the Tanzania-flagged Tihamah, and reports say this marks the first deaths from Houthi maritime attacks since the start of the Iran war in February.
According to emerging details in Reuters via maritime monitors:
UK Maritime Trade Operations said it had been informed that a cargo vessel off the coast of al-Mokha, Yemen, had been hit by an unknown projectile, resulting in casualties.
British maritime security company Ambrey said the ship was reportedly targeted and damaged by the Houthis, killing three crew members, while at anchor 3.3 nautical miles northeast of Perim Island, Yemen.
Two Pakistanis and one Indonesian person were killed as the ship sailed from Salalah in Oman via Djibouti, the Yemeni sources said. After the attack, the crew lost control of the ship and were approached by Yemeni coast guard, they added.
And yet the stricken vessel does not appear to be Saudi-owned or operated, which could signal that the Houthis are expanding their siege of the waterway to include all foreign vessels and not just Saudi and Israeli-linked ones.
Further east, UKMTO also received a report of an incident involving a container ship and military forces in the Gulf of Oman.
If this alleged incident which is closer to the Persian Gulf and Strait of Hormuz is confirmed, it would likely be a directly Iranian-linked incident. WSJ details that “maritime security firm Vanguard reported that a Panama-flagged containership called Vela Nova was struck by a missile fired from a helicopter while transiting westbound through the Gulf of Oman about 71 nautical miles from the coast of Pakistan.”
“The missile struck the vessel, causing a fire that was subsequently extinguished,” said Vanguard, noting that all 17 crewmembers are accounted for.
Since joining the regional conflict on Iran’s side, the Houthis – which have long been seen as proxies of Tehran, have attacked dozens of vessels after declaring their “siege for siege” operations against Saudi Arabia.
Overnight Developments
- Iran’s new supreme leader, Khamenei’s son Mojtaba, is putting his own stamp on the country’s national-security policy amid a confrontation with the U.S. that could last months or even years. In a sweeping overhaul of the government’s top echelon on Sunday and Monday, Iran named seasoned hard-liners to run the country’s security policies and institutions of repression. WSJ
- Persian Gulf energy producers are concluding that Iran’s control over the Strait of Hormuz will become permanent, disrupting their oil and gas exports and global energy supplies indefinitely. The problem is they worry the alternative—going back to war—would be worse. WSJ
- There was a maritime incident reported in Bab al-Mandab, with Fars reporting that a Saudi ship was reportedly targeted by the Yemeni army. In other news,
- Yemeni sources said a second missile targeted a ship while the coast guard was rescuing its crew in Bab al-Mandab.
- The UKMTO has received a report of an incident involving a tanker and military forces in the Gulf of Oman.
- Iranian Foreign Minister Araghchi said the world should hold the US accountable for the Hormuz block, while Hormuz security requires end to US aggression, according to Fars News Agency.
- Yemen military source said government forces launched a concentrated attack on militia positions in Harib, Shabwa, according to Al Arabiya.
- Explosions reported in Yemen’s Marib, according to SNN.
- Lebanon and Israel are expected to hold the next round of talks in early September, according to Al-Arabiya.
- Israeli forces conducted new strikes in southern Lebanon, according to SNN.
END
ISRAEL TBN
END
HEZBOLLAH
HAMAS
ISRAEL GOLAN HEIGHTS/COLUMBIA
Colombia becomes second country to recognize Israeli sovereignty over Golan Heights, joining US
Bogota says it recognizes Israeli sovereignty over Golan Heights as an ‘essential component of its national defense’ • Sa’ar: Decision demonstrates Colombian president’s ‘commitment to Israel’
A supporter of Israel holds flags during a protest, following Hamas’ biggest attack on Israel in years, in Bogota, Colombia October 9, 2023.(photo credit: REUTERS/LUISA GONZALEZ)ByGOLDIE KATZAUGUST 10, 2026 19:22Updated: AUGUST 10, 2026 20:58
Colombia has recognized Israel’s sovereignty over the Golan Heights, the country’s Foreign Ministry announced on Monday.
In a statement released on X/Twitter, the ministry stated that it recognizes Israeli control over the area as “an essential component of its national defense and its ability to protect and safeguard its citizens.”
The recognition resulted from a commitment made by both Israel and Colombia on Saturday, the ministry said.
In its declaration, Bogota became only the second UN member state to recognize Israeli sovereignty over the territory captured from Syria in 1967 and effectively annexed by Israel in 1981, after the United States recognized Israeli sovereignty in 2019 during US President Donald Trump’s first term in office.
Gideon Sa’ar: Colombia demonstrated ‘commitment to Israel’ in declaration
Foreign Minister Gideon Sa’ar thanked Colombian President Álvaro de la Espriella for the move and Colombian Foreign Minister Omar Bola Escobar for his cooperation on the matter.
END
SYRIA/LEBANON
Retired Syrian General Who Fought ISIS ‘Disappears’ Inside Embassy In Beirut
Tuesday, Aug 11, 2026 – 03:30 AM
A retired Syrian general who commanded forces fighting ISIS was abducted by personnel from the Syrian embassy in Lebanon, Al-Akhbar reported on Saturday.
Adel Issa, an Alawite brigadier general from Tartous, entered the Syrian embassy in Beirut at 12:30 pm on Friday to arrange a power of attorney for a relative. His Syrian driver waited outside for him, but he never returned. As his driver waited outside, a car with several young men stopped and demanded that the driver hand over the retired general’s phone, claiming they needed to register his passport.
The driver waited for Issa until 4:30 pm before going to the embassy entrance to inquire about him. A Lebanese guard prevented him from entering, telling him the embassy had closed an hour before.
After persisting, the driver was able to speak with an embassy employee who told him that Issa had left the embassy 20 minutes earlier. This surprised the driver, as Issa never came out of the embassy to have the driver take him home.
The driver then informed the general’s family of the incident. They began making calls to locate him, but his phone was switched off after 3:30 pm.
The family contacted several Lebanese organizations for help in determining his fate, fearing he might have been illegally detained at the embassy, given his status as an Alawite officer in the deposed government of Bashar al-Assad. There were also fears that he might be transferred to Syria and subjected to torture.
Since the fall of Assad’s government in October 2024, Syria’s new authorities, led by the former Al-Qaeda leader Ahmad al-Sharaa, have detained thousands of Alawite officers from the former army.
Syrian authorities claim they are detained for committing war crimes during the 14-year war that began in 2011. However, in practice they are typically detained based on their religious identity as Alawites.
According to a December 2025 report by Reuters, Syria’s prisons are overflowing with Alawite men who are held without trial and often tortured.
Al-Akhbar notes that Brigadier General Issa had retired more than six years ago. He continued to live in Tartous and move around Syria without being pursued by the new authorities.
He gave a statement before a Syrian court a few months ago regarding a financial dispute with someone without being arrested or prosecuted, as there was no warrant or legal case against him. However, roughly one month ago, a group of unknown armed men raided Issa’s home and inquired about him.
Issa was unable to determine whether the armed men were from the official Syrian security forces or from an armed faction affiliated with the new government but operating outside the chain of command. As a result, Issa decided to leave Syrian territory for Lebanon.
The Syrian Justice Archive (SJA) noted that after news emerged of the detention of the retired general, an attempt was made to cover up his abduction at the embassy and make it appear as if it was part of a legal process.
Saudi newspaper Al-Sharq al-Awsat claimed that Lebanese authorities had arrested Issa and requested his judicial file from their Syrian counterparts to decide whether to hand him over to Syrian authorities. SJA notes that the evidence indicates that Issa was taken by Syrian embassy personnel, not by Lebanese prosecutors or police.
“If Syria wanted his arrest and extradition, the proper procedure would have been for the Syrian Prosecutor General to formally request his arrest and handover through the Lebanese authorities, not for him to be abducted while visiting the embassy after legally leaving Syria,” SJA stated.
The Syrian embassy admitted later on Saturday that Issa had been held inside the embassy and that embassy staff then handed him over to Lebanese security authorities after he had spent more than a day detained inside the embassy.
The Britain-based Syrian Observatory for Human Rights (SOHR) reported that Issa commanded the Syrian army’s 17th Division. In 2015, he was given command of all Syrian ground forces in the eastern governorate of Deir Ezzor, which borders Iraq, before he retired in late 2016.
Under Issa’s command, the 17th Division was responsible for protecting Deir Ezzor from ISIS, of which self-appointed Syrian President Ahmad al-Sharaa’s armed group, the Nusra Front, is an offshoot. The Nusra Front was later rebranded as Hayat Tahrir al-Sham (HTS).
Another scandal emerged last week when journalist Lindsey Snell reported that the Nusra Front member, Mohamad Qanatari, who had kidnapped her in northern Syria in 2016, had been named as charge d’affaires to the Syrian Embassy in Washington.
In 2012, Nusra was designated as a terrorist group by both the UN and the US State Department, despite covert US support for the group. Since HTS and Sharaa came to power, the US government has openly embraced members of the former terror group, including Sharaa himself, who visited the White House to meet US President Donald Trump in November 2025.
SJA reports that another disturbing incident involving the Syrian embassy in Beirut occurred earlier this week when a Syrian social media influencer, Hussein Abdul Qader al-Ahmad, was abducted after making a video for social media in front of the embassy.
In the video, Ahmad criticized the new extremist-dominated Syrian authorities, including President Sharaa – who formerly went by the nom de guerre Abu Mohammad al-Julani and is well known for dispatching suicide bombers and car bombs to kill thousands of civilians in Iraq and Syria.
After his abduction at the Lebanese-Syrian border, Ahmad appeared on Syrian government media in detention with visible marks on his forehead, suggesting that he was subjected to abuse or torture. He is now detained on charges of “insulting state symbols” and “provoking the feelings of Syrians.”
END
RUSSIA VS UKRAINE UPDATES
‘How Can We Help You Kill More Russians?’ German Reporter To Zelensky At Belgrade Meeting
Tuesday, Aug 11, 2026 – 04:15 AM
It has never been a secret that much of the Western mainstream media “journalist and pundit class” are in reality warmongers and armchair interventionists and chickenhawks – or also activists and advocates operating under the guise of “objective reporting”.
One German journalist was surprisingly open with his lust for blood at a press conference in Belgrade on Saturday. Frankfurter Allgemeine Zeitung correspondent Michael Martens posed a surprisingly blunt question to Ukrainian President Volodymyr Zelensky, and with Serbian President Aleksandar Vucic looking on at the other podium. The journalist wanted to know how Europeans could concretely assist in “killing more Russians”. Watch:
“Can you tell us Europeans what can we concretely do to help you to kill more Russians?” Martens asked.
He quickly checked himself, adding that he means “more Russian soldiers, of course.” President Vucic is seen with a look of shock on his face as the question is being asked, raising his eyebrows in apparent disbelief.
Zelensky had responded to the question with the usual calls for more money, and more weapons, and to hit Moscow harder with Western sanctions.
Vucic’s answer was very diplomatic but also somewhat of a rebuke to the question, expressing his desire to see all killing come to and end:
“We did not discuss military cooperation today,” the Serbian president said. “What happens when the war ends is another matter. And speaking about killing, I hope all killing will end.”
The clip has gone viral in Europe, and has been highlighted in Russian and Ukrainian media – but has been curiously absent from Western mainstream press.
The Serbian leader’s look says it all…
Amid the controversy, the outlet that Martens writes for, Frankfurter Allgemeine Zeitung, issued a statement expressing “regret” while still seeming to defend the exchange, only saying that its reporter’s statement was “worded ambiguously”.
Sadly, none of this is completely surprising – and the longer the Ukraine war drags on, the more bloodthirsty that “journalists” and pundits and some politicians are likely to become. Or rather, the masks are off and such sentiment is much more out in the open.
END
RUSSIA/UKRAINE
Russia’s Only Anti-War Party Banned From Parliamentary Elections Over ‘Foreign Funding’
Tuesday, Aug 11, 2026 – 05:45 AM
It’s been no secret that Russian authorities have increasingly cracked down on public speech which opposes the war in Ukraine, or as the Kremlin calls it – the special military operation. Any speech deemed ‘unpatriotic’ has also come under a legal microscope of late.
Currently, Yabloko (Apple) is the only officially registered Russian political party which openly oppose the war, calling “for peace and freedom”. But the party has just suffered a huge setback, having been banned by the nation’s top court from running candidates in upcoming parliamentary elections.
Russia’s Supreme Court on Monday “upheld a suit brought by a pro-Kremlin nationalist party, stripping voters opposed to the four-and-a-half-year war in Ukraine of their last option on the ballot,” France24 reports.
“The claims seeking to annul the registration of the federal list of candidates for the State Duma of the ninth convocation, nominated by the Yabloko political party, were granted,” the ruling by judge Vyacheslav Kirillov indicated.
Some one hundred mostly young supporters of Yabloko demonstrated outside the courthouse chanting “Shame! Shame!” following the ruling. Yabloko leader Nikolay Rybakov has affirmed that the party is planning to appeal the decision.
The rationale for the ban is that the anti-war party is accused of receiving foreign funds; however, it has countered by saying rival political parties have also received such funding:
According to data from Russia’s Federal Financial Monitoring Service (Rosfinmonitoring), the Yabloko party had received funding from abroad, a Central Election Commission (CEC) representative said. The representative spoke during a court hearing on a lawsuit the Rodina party filed seeking to remove Yabloko from the State Duma election.
On Aug. 7, Rosfinmonitoring gave the commission a document stating that individuals on Yabloko’s federal candidate list had received foreign funding, the CEC representative said.
Several dozen of the party’s counterparties had also received this funding, according to Rosfinmonitoring.
Anti-Kremlin regional outlet Meduza has published the following from Yabloko party concerning its legal hot water situation:
Yabloko has attributed the foreign funding data to the sale of foreign shares, which the law requires candidates to sell off ahead of elections, the Telegram channel Varlamov News reports. Yabloko lawyer Gadzhi Aliev said the funds did not come to the party itself from foreign individuals, but from Russian citizens who had received money from foreign sources.
Russia has long been fearful over foreign entities making inroads into Russian society, a concern which stretches to well before the war started.
It also worries that US and European intelligence could seek to manipulate parliamentary elections. In America, Democrats had starting long ago charged Moscow with interfering in US elections, which produced years of ‘Russiagate’ hanging over President Trump – yet with nothing close to a smoking gun.
Regarding the brutal war in Eastern Europe, common Russian families have continued to struggle and suffer quietly because of the conflict as more and more young men are killed in the fighting. On the other side of it, Ukrainian families are also suffering immensely – and tragically there seems no end in sight as peace talks have proven illusive.
END
Zelensky Claims North Korea Sending Up To 50K Troops To Russia, Presses Seoul To Send Missiles
Tuesday, Aug 11, 2026 – 11:15 AM
Ukraine’s President Zelensky has in fresh remarks warned North Korea against its deepening involvement with Russian in executing the war against Ukraine.
Zelensky’s late Monday words alleged that Russia recently received additional ballistic missiles from Pyongyang and is preparing to deploy more North Korean troops, after already sending thousands to fight on the Russian side.
While reports from the last couple years have estimated that North Korea has maintained up to around 10,000 troops in Russia related to the ‘special military operation’ in Ukraine, Zelensky is now floating a huge number of projected new DPRK forces.
It started on Saturday when Zelensky took to X to say – without evidence – that “a decision has been made for 30,000 to 50,000 North Koreans to be deployed on the territory of Russia,” a higher figure than his estimate of 30,000 in July.” He didn’t specify where he obtained the alleged data from.
He also said that Ukrainian intelligence had located some North Korean missiles in Ukraine’s territory, without further elaborating. What is clear is the Moscow and Pyongyang do have a robust defense cooperation pact, which was signed in June of 2024.
On Tuesday Ukrainian officials said that overnight at least nine people were killed in new Russian ballistic missile attacks, and scores wounded.
Zelensky then newly said in reference to the southeastern city of Zaporizhzhia, “The city was struck with North Korean ballistic missiles, Zircons, and guided aerial bombs” – and he described “a vicious attack, calculated to, inflict maximum damage specifically on civilian infrastructure.”
But again, no proof of the North Korean origins of the missiles was forthcoming. “It is absolutely clear that North Korea will continue to build its experience in modern warfare, receive licenses from Russia, and receive all kinds of military tools from them,” Zelensky has also said.
Interestingly, Zelensky is using this narrative to try and goad South Korea into changing its policy and export heavy weapons, including anti-air defenses, to Ukraine:
Zelensky said North Korea was gaining valuable battlefield experience through its cooperation with Russia and urged South Korea to provide Ukraine with air defense systems and other capabilities.
“They have a legal restriction under their Constitution. But we would like to have this cooperation and are counting on it. Our diplomats are in contact,” Zelensky wrote.
However, this new pressure campaign on Seoul prompted one senior South Korean official to tell The Korea Times, “South Korea’s supply of defense materials to any country has always been carried out in accordance with domestic law.”
The official made clear that there is no policy change in the works, and that South Korean weapons will not start flowing to Kiev anytime soon – or this is the official response at least.
END
6/.GLOBAL ISSUES, COVID ISSUES, VACCINE INJURIES/HEALTH ISSUES
Trump Signs Executive Order Calling For Spacing Out Childhood Vaccines
Monday, Aug 10, 2026 – 09:45 PM
Authored by Jackson Richman via The Epoch Times,
President Donald Trump signed an executive order on Aug. 10 calling for spacing out childhood vaccines.
President Donald Trump, accompanied by Health and Human Services Secretary Robert F. Kennedy Jr. (R) and Jayme Leagh Franklin with the The Conservateur (L), signs an executive order calling for childhood vaccine shots to be spaced out into separate visits during an event in the Oval Office of the White House on Aug. 10, 2026. Anna Moneymaker/Getty Images
The order recommends administering the measles, mumps, and rubella (MMR) vaccine in three shots in separate visits.
“The Gold Standard Childhood Vaccine Recommendations also recognize that the combined measles, mumps, rubella (MMR) vaccine should be administered in three separate single-disease shots once such products are domestically available and that, to the maximum extent feasible, all childhood immunizations should be administered at separate medical visits,” the order states.
The executive order calls for the attorney general to take “appropriate measures to further meritorious legal actions challenging state laws that conflict with states’ constitutional and Federal statutory obligations related to parental authority, religious freedom, disability accommodations, and equal protection under the law, including, to the extent applicable under Federal law, States’ obligations to provide religious and medical exemptions from childhood and adolescent immunization requirements.”
Public health experts say that vaccination delays could increase the chances that children are infected with diseases that vaccines can prevent before they return for their next appointment.
States, not the federal government, have the authority to require vaccinations for schoolchildren – even though the order calls for revised vaccine recommendations.
Polls show that most Americans support school vaccine requirements, but Republicans are less likely than Democrats to view them as important.
Amid speculation that vaccines may be linked to autism, Trump has recently increased pressure on Health and Human Services Secretary Robert F. Kennedy Jr. to determine what causes autism, a goal Kennedy previously vowed to pursue through new research announced last year. During a Cabinet meeting last month, Trump asked Kennedy for an update on the research.
“How are you doing on the autism research?” Trump asked.
“We will have an answer for you,” Kennedy said.
Decades of scientific research have found that vaccines do not cause autism. Childhood vaccines are thoroughly researched, and safety tracking has continued as long as the shots have been given.
Trump’s executive order comes as kids return or are about to return to school.
The order also directs the Department of Justice, Department of Education, and Department of Health and Human Services to “take appropriate action to ensure that their contractors and grantees, including States and localities, are compliant with their constitutional and federal statutory obligations.”
The executive order is a win for the Make America Healthy Again movement, which has expressed skepticism of mandatory vaccines.
During the signing, Trump criticized what he called “72 jabs for … beautiful, healthy, lovely delicate little children.”
Trump called for only 11 key vaccines. He said spreading out the shots was critical and said children should get their shots in one year with five separate visits.
People are refusing transfusions from donors vaccinated against covid
Patients are requesting that blood transfusions come from people who they know have not been
vaccinated against covid-19, which can cause dangerous delays
By Alex Hughes
15 April 2026
Donated blood usually comes from anonymous volunteers, and is screened for safety
A hospital in the US has had to concede to an unusual request from patients requiring blood
transfusions: that they come from donors who haven’t been vaccinated against covid-19. This
has led to delays in treatments that caused one individual to experience a life-threatening
reaction.
“These requests were often driven by misinformation about vaccine safety and the blood supply,
rather than evidence-based transfusion concerns,” says Jeremy Jacobs at Vanderbilt University
Medical Center in Nashville, Tennessee. “I think one of the most important broader points is that
the community blood supply is already highly regulated and carefully screened, and there is no
evidence that requesting unvaccinated blood improves transfusion safety.”
Jacobs and his colleagues analysed blood donations that took place at the Vanderbilt centre
between January 2024 and December 2025. They found that 15 patients – or their caregivers –
had asked for directed donations, when blood is donated by a chosen person, often a relative,
rather than being taken from a blood bank.
Directed donations are only permitted in the UK and Australia under exceptional circumstances,
such as if an individual has a rare blood type and a suitable blood-bank donor isn’t available. In
the US, the practice is allowed more broadly, but discouraged, with policies varying hugely
between centres.
The researchers found that all 15 of the patients had directed donations because they wanted
blood from a donor who they knew had not been vaccinated. This was specifically against covid-
19, says Jacobs. The vaccination status of anonymised donors is not recorded or conveyed by
blood banks.
These requests resulted in treatment delays that put the patients at risk. In the most extreme case,
the patient’s level of haemoglobin – the protein that carries oxygen around the body – reached a
critical level, which can cause organ injury and failure. Another patient developed anaemia.
“Directed donation is operationally more complex than using the routine blood supply,” says
Jacobs. “It requires additional coordination, collection, processing, tracking and timing.”
Although blood is carefully screened before transfusion, direct donations have also been linked
to a higher infection risk. This is because they are often given as a one-off, rather than coming
from repeat donors in the community who may be known to blood banks and might be
particularly cautious of their infection exposure.
Direct donations spiked during the HIV/AIDS epidemic during the 1980s and early 1990s, but
they increased in prominence again when the mRNA covid-19 vaccines became available. These
involve injecting part of SARS-CoV-2’s genetic code into someone so their cells produce one of
its proteins. Their immune system then reacts and destroys cells with this protein. If the
individual later catches SARS-CoV-2, their immune system is triggered to fight it off.
Research has repeatedly shown that these vaccines are safe and highly effective,
but misinformation has incorrectly linked them to fertility problems and other health issues.
Conspiracy theories have even wrongly stated that these vaccines contain a microchip and affect
your DNA.
In 2025, a study confirmed that receiving blood donations from people vaccinated against covid-
19 is safe. “Requests for unvaccinated blood reflect broader uncertainty about vaccines among a
proportion of the public, rather than any recognised transfusion risk,” says Ash Toye at the
University of Bristol, UK.
And the issue isn’t just affecting the Vanderbilt centre. The Welsh Blood Service stated last year
that people are asking about the vaccination status of blood donors. There was also a rejected
petition to the UK government to split blood donations by vaccination status. But in Oklahoma,
legislators have proposed mandating that patients have access to unvaccinated blood.
“These requests illustrate how misinformation can create real operational burdens for patients,
hospitals and blood providers,” says Jacobs. “At the same time, they underscore the importance
of addressing patients’ concerns respectfully and thoughtfully, even when those concerns are not
supported by evidence.”
Journal reference:
TransfusionDOI: 10.1111/trf.70195
END
GLOBAL ISSUES
Fauci Privately Flagged Miscarriage Risk Before Telling Pregnant Women There Were ‘No Red Flags’
Tuesday, Aug 11, 2026 – 08:35 AM
Newly disclosed text messages show Dr. Anthony Fauci privately entertained the possibility that the COVID-19 vaccine could trigger first-trimester miscarriages, months before he told the public there was no risk.
The messages come from a trove that Sen. Rand Paul (R-Ky.) and Sen. Ron Johnson (R-Wis.) released, containing more than 34,000 texts and 522 voicemails the Senate Homeland Security Committee pulled from Fauci’s government-issued phone. Among the trove is a January 2021 text chain between Fauci, Dr. Vivek Murthy and Dr. Rochelle Walensky, who went on to serve as the Biden administration’s surgeon general and CDC director, in which the three officials worked through how the vaccine’s risks might interact with pregnancy.
On Jan. 25, Murthy opened the thread with a question. “For pregnant women considering getting the vaccine, are you aware of any data or theoretical reason why vaccinating early vs late in pregnancy would be preferred? And any sense of when there will be more robust data on vaccine risk in pregnant women?”
Walensky noted that more than 15,000 pregnant women had already enrolled in the CDC’s V-safe vaccine safety monitoring system. Fauci wrote there “are no data or theoretical reason to believe that vaccinating early versus later in pregnancy would be preferred.” He also flagged a caveat that would later look prescient. “Yet, some people (even female health care professionals) feel concerned about injecting a ‘genetic’ vaccine very early in pregnancy,” he wrote.
Nearly two hours passed before Fauci circled back with something he had not mentioned the first time. “I asked around a bit more and another issue came up that you need to be aware of,” he wrote. “Since many people have significant cytokines storm and fever after the 2nd dose, this theoretically could be associated with miscarriage in the 1st trimester.”
Walensky’s response left little doubt the group treated the concern as legitimate. Fauci’s point about the first trimester was “definitely a good point, [especially] after dose two,” she wrote back.
None of that made it into Fauci’s public messaging. On Feb. 3, 2021, during a Journal of the American Medical Association (JAMA) question-and-answer livestream, he told viewers the FDA had “found thus far, and we have to be careful, but thus far no red flags about that, about pregnant women.” Months later, while serving as the Biden White House’s chief medical adviser, he went further, telling the public that tens of thousands of pregnant women tracked by the CDC after vaccination showed “no indication whatsoever” of increased adverse issues compared with unvaccinated pregnant women. “It’s pretty clear that pregnant women should get vaccinated,” he said.
The texts also show the three officials weighing vaccine risk against the risk of the virus itself while worrying about how competing health authorities were muddying their message. On Jan. 26, 2021, Murthy told Fauci and Walensky he was “surprised to see WHO put out a strong [statement] saying they do not recommend moderna [sic] in pregnant women,” calling it “a strong statement to make and potentially quite damaging to public confidence among pregnant women.” Public confidence kept surfacing as the metric that mattered most to the group, even as the underlying science remained unsettled in their own private assessment.
Paul and Johnson said the phone the committee obtained lists only three contacts, and cautioned it is “too early to determine whether any data has been deleted.” Paul referred Fauci for prosecution earlier this month over his refusal to testify before the Homeland Security Committee. Asked Monday whether he had discussed potential prosecution of Fauci with Attorney General Todd Blanche or DC US Attorney Jeanine Pirro, President Trump told reporters, “I have not spoken to them about that, no.”
Fauci invoked his Fifth Amendment right against self-incrimination during a July 29 hearing covering the pandemic and federally funded gain-of-function research. After the hearing, Paul and Johnson said they had obtained a forensic copy of Fauci’s phone along with emails showing health officials had requested deletion of some records.
Johnson said Monday on Fox News’ America Reports that the committee has invited Fauci for a transcribed interview. “He’s been quoted as saying he’s not afraid of congressional oversight. He’ll talk to any oversight committee; he’s got nothing to hide,” Johnson said, noting that Fauci’s attorneys have been in contact. He called Fauci “the only guy that can answer some of these questions” and warned, “If they don’t set that up voluntarily, I will subpoena him.”
END
SPECIAL THANKS TO ROBERT H.. FOR SENDING THIS TO US;
Fauci & COVID Vaxx WAY WORSE Than You Can Imagine! – Says World Renowned Doctor
MARK CRISPIN MILLER
DR PAUL ALEXANDER
RABOBANK/MICHAEL EVERY/OR OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS
7. OIL AND NATURAL GAS/ENERGY COMMENTARIES
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES
COLUMBIA..
U.S./GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS TUESDAY MORNING 6;30AM//OPENING AND CLOSING
OPENING LEVELS OF CURRENCIES// AND CLOSING ASIAN STOCK MARKET AND OPENING EUROPEAN STOCKS:6 AM EST
EURO VS USA DOLLAR: 1.1533 DOWN 0.0013
USA/ YEN 159/35 UP 0.191 NOW TARGETS INTEREST RATE AT 1.75% 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!! BANK OF JAPAN WILL NO LONGER DO QE. URGES PENSION AND INSUANCE FUNDS TO BUY JAPANESE BONDS
GBP/USA 1.3499 DOWN 0.0018 OR 18 BASIS PTS
USA/CAN DOLLAR: 1.3933 UP 0.0005 //CDN DOLLAR DOWN 5 BASIS PTS//
Last night Shanghai COMPOSITE CLOSED DOWN 32.50 PTS OR 0.82%
Hang Seng CLOSED DOWN 300.49 PTS OR 1.16%
AUSTRALIA CLOSED DOWN 0.02%
// EUROPEAN BOURSE: ALL RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL RED
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 300.49 PTS OR 1.16%
/SHANGHAI CLOSED DOWN 32.50 PTS OR 0.82%
AUSTRALIA BOURSE CLOSED DOWN 0.02%
(Nikkei (Japan) CLOSED UP 1362.51 PTS OR 2.08%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: $4365.10
silver:$64/65
USA DOLLAR VS TRY (TURKISH LIRA): 47.74 UP 3 BASIS PTS AND NOW WE SEE THEIR STUPIDITY OF SELLING SOME OF THEIR GOLD AND ALL OF THEIR USA DOLLAR RESERVES. THE COUNTRY IS IN BIG FINANCIAL TROUBLE
USA DOLLAR VS RUSSIAN ROUBLE: 82.11 ROUBLE// UP 0 ROUBLE AND 37 BASIS PTS. WOULD YOU BELIEVE THAT THE RUSSIAN ROUBLE AND THE ISRAEL SHEKEL ARE THE STRONGEST CURRENCIES BESIDES THE DOLLAR .
UK 10 YR BOND YIELD: 5.047 UP 6 BASIS PTS
UK 30 YR BOND YIELD: 5.7840 UP 6 BASIS PTS
CDN 10 YR BOND YIELD: 3.7211 UP 8 BASIS PTS
CDN 5 YR BOND YIELD; 3.341 UP 8 BASIS PTS
USA dollar index early TUESDAY MORNING: 99.77 UP 7 BASIS POINTS FROM MONDAY’s CLOSE
TUESDAY MORNING NUMBERS ENDS
And now your closing TUESDAY NUMBERS 10.00 AM
Portuguese 10 year bond yield: 3.507% DOWN 0 in basis point(s) yield
JAPANESE BOND 10 yr YIELD: +2.806% DOWN 0 FULL POINTS BASIS POINTS /JAPAN losing control of its yield curve/
JAPAN 30 YR: 3.958 DOWN 1 BASIS PTS//
SPANISH 10 YR BOND YIELD: 3.601 DOWN 1 in basis points yield
ITALY 10 YR BOND: 3.964 DOWN 0 points in basis points yield ./
GERMAN 10 YR BOND YIELD: 3.1670 DOWN 1 BASIS PTS
IMPORTANT CURRENCY CLOSES : MID DAY TUESDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/10:00 AM
Euro/USA 1.1541 DOWN 0.0005 OR 5 basis points
USA/Japan: 159.27 UP 0.108 OR YEN IS DOWN 11 BASIS PTS// HIGHLY INFLATIONARY TO JAPAN
Great Britain 10 YR RATE 4.9832 DOWN 1 BASIS POINTS //
GREAT BRITAIN 30 YR BOND; 5.7108 DOWN 1 BASIS POINTS.
Canadian dollar UP 3 BASIS pts to 1.3930
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The USA/Yuan CNY 6.7453 ON SHORE ..DPWM
THE USA/YUAN OFFSHORE// CNH DOWN TO 6.7465
TURKISH LIRA: 47.74 UP 3 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
Your closing 10 yr US bond yield DOWN 1 in basis points from MONDAY at 4.696% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 5.248 DOWN 1 basis points /10:00 AM
USA 2 YR BOND YIELD: 4.230 DOWN 1 BASIS PTS.
GOLD AT 10;00 AM 4394.30
SILVER AT 10;00: 65.00
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates TUESDAY
DAY CLOSING TIME 10:00 AM///
London: CLOSED DOWN 18.31 PTS OR 0.17%
GERMAN DAX: CLOSED UP 67.54 PTS OR 0.26%
FRANCE: UP 11.09 OR 0.13 PTS
Spain IBEX CLOSED UP 40.60 PTS OR 0.20%
Italian MIB: CLOSED UP 42.33 PTS OR 0.08%
WTI Oil price 82.64 10.00 EST/
Brent Oil: 87.87 10:00 EST
USA /RUSSIAN ROUBLE /// AT: 82.61 ROUBLE DOWN 0 AND 11 100
CDN 10 YEAR RATE: 3.708 DOWN 1 BASIS PTS.
CDN 5 YEAR RATE: 3.325 DOWN 2 BASIS PTS
CLOSING NUMBERS: 4 PM//
Euro vs USA 1.1542 DOWN 0.0004 OR 4 BASIS POINTS//
British Pound: 1.3503 DOWN 0.0005 OR 5 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.9703 DOWN 3 FULL BASIS PTS//
BRITISH 30 YR BOND YIELD: 5.7150 DOWN 2 IN BASIS PTS.
JAPAN 10 YR YIELD: 2.806 DOWN 2 FULL BASIS PTS (DANGEROUS TO THEIR ECONOMY
JAPANESE 30 YR BOND: 3.959 UP 0 PTS AND STILL VERY DANGEROUS TO THEIR ECONOMY
USA dollar vs Japanese Yen: 159.29 UP 0.126 OR YEN DOWN 13 BASIS PTS//GETTING FURTHER AWAY FROM 160.00/ EXTREMELY DANGEROUS
USA dollar vs Canadian dollar: 1.3919 DOWN 0.0014 PTS// CDN DOLLAR UP 14 BASIS PTS
West Texas intermediate oil: 83.38
Brent OIL: 89.15
USA 10 yr bond yield DOWN 1 BASIS pts to 4.690
USA 30 yr bond yield: DOWN 0 PTS to 5.242%
USA 2 YR BOND 4.222 DOWN 2 PTS
CDN 10 YR RATE 3.708 DOWN 1 BASIS PTS
CDN 5 YEAR RATE: 3.327 DOWN 2 BASIS PTS
USA dollar index: 99.71 UP 1 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 47.74 UP 3 BASIS PTS GETTING QUITE CLOSE TO BLOWING UP/IDIOTS SOLD GOLD
USA DOLLAR VS RUSSIA//// ROUBLE: 82.61 DOWN 0 AND 11/100 roubles //
GOLD $4,379.70 3:30 PM)
SILVER: 64.72 3;30 PM)
DOW JONES INDUSTRIAL AVERAGE: DOWN 186 POINTS OR 0.35%
NASDAQ 100 DOWN 159.91 PTS OR 0.60%
VOLATILITY INDEX 15.28 DOWN 0.18 PTS OR 1.16%
GLD: $ 400.98 DOWN 1.56 PTS OR 0.39%
SLV/ 58.54 PTS DOWN 0.87 OR 1.40%
TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 17.59 PTS OR 0.05%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING
Mideast Malaise & AI Angst Batter Big-Tech & Bitcoin; Bonds Bid On Bad Data, Shrug Off Oil’s Gains
WRAP UP
DATA RELEASES
Despite Record Surge In Subprime Car Loan Originations, US Household Debt Dropped In Q2: First Since COVID
Tuesday, Aug 11, 2026 – 12:35 PM
Something unprecedented happened in the second quarter: aggregate household debt balances declined by $13 billion, a 0.1% decline from Q1. Balances stood at $18.8 trillion, up $4.6 trillion since the end of 2019, just before the pandemic recession. But the reason why we say it was unprecedented, is that the Q2 drop was the first quarterly decline in total household debt since the second quarter of 2020, when the US economy was gripped by the covid lockdown shock leading to a historic deleveraging.
In fact, the only time aggregate household debt slides is during and right after periods of financial or social crisis. And yet, in Q2, risk assets soared…. which makes one wonder: just how bad is the economy really if one takes away the constant, debt-fueled (both on and off balance sheet) AI meltup?
Here is the breakdown by main category:
- Mortgage debt at $13.12t after $13.19t in 1Q, a decrease of $74b
- Mortgage delinquency rate fell to 0.99% from 1.09% prior quarter
According to the NY Fed, the decline was “due to a temporary gap in the reporting of mortgages on credit reports due to a transfer of servicing.” Meanwhile, balances on home equity lines of credit (HELOC) rose by $13 billion, marking the 17th consecutive quarterly increase. Outstanding HELOC balances now total $459 billion, $142 billion above the low reached in 2022 Q1.
Non-housing debt balances, which apparently were not impacted by a tranfer transfer of servicing, grew by $48 billion, or 0.9%, from 2026Q1. Auto loan balances rose by $28 billion (1.7%), and credit card balances increased by $21 billion (1.7%). Student loan balances declined slightly (-0.4%). Other balances, which include retail cards and consumer finance loans, edged up by $6 billion to $568 billion. Key highlights:
- Student loan debt total at $1.651t from $1.658t in prior quarter, a decrease of $7b
- Student loan delinquency rate rose to 10.6% from 10.34% prior quarter
- Credit card debt total at $1.263t from $1.242t in prior quarter, an increase of $21b
- Credit card delinquency rate fell to 12.92% from 13.12% prior quarter
Some of the key charts from the latest report, staring with Mortgage Origination by credit score:
Auto loan origination by credit score. The notable thing here is the record surge in subprime originations (highest number of originations for sub 660 FICO applicants)…
… which was largely the result of a surge in 30-50 year olds getting a new auto loan.
In case going NINJA on auto loans wasn’t enough, along with record credit card balances, we saw a much higher jump in credit card limits. Which means consumers have a LOT of dry powder.
Subprime-riddled auto loans aside, the one chart that may be most notable is the one showing that transition into delinquency b y loan type continues to rise, especially for Auto Loans, Mortgage and Credit Card. Of course, since student loans are already deep in the delinquency pipeline (most are 90+ days) there is simply nobody left to start the default process: most already have.
Commenting on the latest report, Joelle Scally, Economic Policy Advisor at the New York Fe said that “delinquency rates across most products have held steady over the past two years,” adding that “new delinquencies for auto loans and credit cards remain at elevated levels, a trend we’ll continue to monitor.”
And, ominously, as new delinquencies rise, the number of 90+ days delinquent loans are already near record highs for both credit cards, auto loans and student loans.
More in the full Household Credit presentation.
END
US Existing Home Sales Disappoint (Again) In July, Hover Near Record Lows
Tuesday, Aug 11, 2026 – 10:09 AM
With mortgage rates rising and the ‘low hire, no fire’ economy leaving many anxious about their household finances, the ugly spring selling season has not been followed by a consistent rebound in existing home sales in the US.
After falling 1.4% MoM in June (revised up from a 2.4% MoM decline), US existing home sales fell again -1.7% MoM in July (worse than the -1.0% MoM exp). This dragged the annual increase in sales down to just 0.74% YoY…
Overall, existing home sales SAAR is holding very modestly off record lows, holding just above the 4 million mark…
“Home sales have been remarkably stable, even amid the rising mortgage rate environment of the past few months,” Lawrence Yun, NAR chief economist, said in a statement.
He added that “there’s no doubt that the housing market would be thriving if average mortgage rates were to return near 6%.”
In recent months, home-financing costs and prices went in the wrong direction. Thirty-year mortgage rates have been climbing since the late-February start of the war in Iran, and recently reached a one-year high of 6.81%.
The median sales price increased 2% from a year earlier to $434,100.
That was the highest selling price for any July on record and extended a stretch of annual price gains that started in summer 2023.
Inventories of new homes for sale remain relatively high (and are thus pressuring homebuilders to choke back on additional supply)…
But, the inventory of existing homes for sale fell slightly (-0.6%) from a year earlier to 1.54 million – the first annual decline since Oct 2023…
By region, previously owned home sales in the South, the nation’s biggest home-selling region, decreased 3.1% to a four-month low. Sales in the Midwest fell 2%. They were unchanged in the West and up in the Northeast.
First-time buyers accounted for 29% of sales in July, down from 33% a month earlier.
One silver lining is the nation’s affordability crunch is easing when compared with last year as rising household income growth has generally outpaced home price appreciation, Mark Fleming, chief economist at First American Financial Corp., wrote in a recent blog.
However, even some of that improvement has been eroded lately because of rising mortgage rates.
USA ECONOMIC REPORTS
South America Just Rejected Socialism. So Why Is North America Buying It?
Tuesday, Aug 11, 2026 – 08:05 AM
Authored by Kaizen Asiedu of Clear Thinker Academy,
I’ve been in Colombia for the last three months.
Yesterday, right-wing Abelardo de la Espriella, aka “The Tiger,” was sworn into office, succeeding left-wing self-proclaimed socialist Gustavo Petro.
This is what the streets of Medellín looked like when The Tiger won in June.
Colombia, Bolivia, Peru, Honduras, Ecuador, Argentina, Chile, El Salvador — all of these Latin American countries had explicitly socialist, far-left, or Marxist governments that they rejected within the last three years:
Bolivia. Last October, voters ended two decades of rule by a party named the Movement Toward Socialism.
Chile. In December, voters chose José Antonio Kast over a Communist Party candidate.
Honduras. In November, they voted out the democratic socialist party of President Xiomara Castro.
Ecuador. Rejected the heirs of Rafael Correa’s socialist project for the second time in two years.
El Salvador. In 2024, the party of former Marxist guerrillas that governed for a decade — during which the country became the murder capital of the world — was wiped from the legislature entirely. Zero seats.
Peru. Two weeks ago, Keiko Fujimori was sworn in after defeating a leftist who served in the cabinet of Pedro Castillo, the Marxist president Peruvians impeached and imprisoned.
Argentina. The left-wing governments that ran the country for most of two decades nationalized the oil company, the airline, and private pension funds. Inflation passed 200%. In 2023 voters elected Javier Milei, who campaigned on reversing all of that.
Applying the socialist label can be tricky, because it’s an abstract ideology.
Some will argue that a few of the examples I gave aren’t socialism.
They’re right — about the labels.
These movements went by different names.
Some called themselves socialists.
Some were Marxists who never used the word.
Some skipped labels entirely and just governed the same way — nationalizing industries, centralizing control.
Different branding. Same ideology: state control over the market, and wealth as something to seize and redistribute rather than create.
That’s what I mean by “socialism” in this letter.
That’s the worldview that the leaders of all of these countries had.
And it’s what voters rejected.
It’s an abstract ideology, with some variation.
I’ll get more into what socialism technically is later to make things concrete.
But what wasn’t abstract were the results these administrations produced: increased crime, gang violence, unchecked immigration, economic problems.
What wasn’t abstract was the experience of voters who had to live with the actual results of abstract theories — and rejected them.
Meanwhile, in America — the country people fleeing socialism risk everything to reach — socialism is growing in popularity.
66% of Democrats now view socialism positively.
62% of Americans under 30 have a favorable view of socialism.
South America is moving away from socialism, after having tried it.
North America is moving toward socialism, having never tried it.
We shouldn’t have to learn this lesson the hard way.
In my first month in Colombia, on my way back from Spanish class, I met a man who explains all of this better than any thinkpiece could — a deported Venezuelan who called Trump the modern-day Hitler.
But then thanked him in the same conversation.
More on that later.
Americans Don’t Know What Socialism Actually Is
The problem with discussing socialism is that often when it’s discussed, we’re not all talking about the same thing.
Many of the Americans excited by socialism think it’s defined by universal healthcare, affordable housing, free childcare.
That is incorrect.
Many Americans also think socialism is what Scandinavian countries (Norway, Sweden, Denmark) do.
That is also incorrect.
In the words of Denmark’s own prime minister, from a talk he gave at Harvard in 2015: “Denmark is far from a socialist planned economy. Denmark is a market economy.”
AKA — capitalist.
The confusion is measurable.
According to Gallup polling: in 1949, 34% of Americans defined socialism as government ownership or control of the economy, and only 2% said “benefits and services.”
The 34% were correct.
By 2018, government ownership had fallen to 17% while “equality” had climbed to 23% — the single most common answer.
The word has drifted from being understood correctly as a description of how an economy operates, to a vibe about fairness.
So let’s restore the definition, because clear thinking requires clear definitions.
Socialism is defined by one thing: who owns the means of production.
The “means of production” are the infrastructure used to produce goods and services — factories, land, firms, capital. Whoever owns them captures the wealth they generate.
Under capitalism, private individuals own the means of production and keep the profits.
Under socialism, that ownership is through collectives, or the government.
In practice, it’s almost always the government.
That’s the dividing line. Not tax rates. Not government benefits. Not wealth inequality. Not social justice.
You can have a capitalist system with high taxes, high government benefits, and low wealth inequality — that’s what Scandinavian countries are.
You can also have a capitalist system with low taxes, low government benefits, and high wealth inequality — like Singapore.
Or you can have America — which is in between.
And there are socialist countries where the state controls the money, benefits are generous on paper, and inequality is low. Venezuela. Cuba.
Countries where the taxes are high, but the money doesn’t actually help people.
Countries where government benefits are high on paper, but low quality in reality.
Countries where there’s low wealth inequality — because everyone is poor.
Fortunately for the Latin American countries that recently rejected socialism, they cut the socialism experiment short before it wrecked them.
Some countries, like Venezuela, weren’t so fortunate.
The Venezuelan Who Called Trump Hitler — and Thanked Him
While in Medellín, I met a man who was born in Venezuela and brought to America by his parents when he was a boy.
He lived in America for 34 years.
He was deported by ICE and is now homeless on the streets of Medellín.
He asked me for money, so I gave him some.
We had a conversation about his experiences.
He described Donald Trump as the modern-day Adolf Hitler.
Now you might wonder — why is a Venezuelan-born man who was deported from America living in Colombia? Why not go back to Venezuela?
Because Venezuela has been ruined by socialists.
How bad must the effect of socialism be for a man who literally thinks Trump is the new Hitler to be grateful to him for invading his country of birth and removing its leader?
I’ve heard this story over and over from the many Venezuelans I’ve met here.
Because it turns out that there are many Venezuelans in Colombia.
Because they left Venezuela.
Because of socialism.
Venezuela, which used to be a thriving society — with a capitalist system, oil wealth, and a well-educated population — is just one of the many countries that fell victim to the false promises of socialism.
And in doing so, it’s impacted other countries too.
Like Colombia, which has a large population of Venezuelans looking for a better life, and now has to deal with the challenges of integrating a large foreign population fleeing socialism.
While Colombia itself suffers from the effects of guerrilla violence, which increased under Petro.
Most Americans, especially those under 30, aren’t well-educated on the actual impact of socialism in history or modernity.
I’ve had multiple Venezuelans tell me in frustration that they see Americans who don’t know anything about Venezuela standing and protesting Trump’s arrest of Maduro, while those who actually lived under Maduro are thrilled to see him go.
Venezuela followed a familiar pattern:
- Socialists and Marxists promise people abundant free services and equity, and get in power.
- They redistribute wealth — through taxes, seizures, and state revenues.
- They replace private industry with government control.
- Initially, things seem to be going well.
- Over time, less wealth is created, because private industry is always better than government at creating wealth.
- Over time, the public sector goes from being controlled by the people to being controlled by the bureaucrats.
- Bureaucrats continue to seize control, because the people don’t have economic leverage (the wealth has been seized) and don’t have physical leverage (they don’t have weapons).
- Removal of the bureaucrats becomes impossible without force — which the people no longer have.
At least everyone is equal now — equally poor.
Socialism hasn’t just “not been done right.”
It almost certainly can’t work, because it destroys the source of wealth it seeks to redistribute.
I say “almost” because there’s a nonzero chance technology someday makes massive, efficient government possible.
Unless today’s socialists have a secret AI model that can do this — that day is not today.
“But That’s Not Real Socialism”
Most of these countries never completed the conversion to socialism.
That doesn’t mean socialism wasn’t tried. An ideology is tried whenever the people who hold it get power — and it’s judged by what they do with it.
Petro said it plainly in 2025: “I am a socialist.” He never made Colombia socialist. His worldview still ran the country for four years.
Mamdani is running New York right now. If the city declines under him, “but New York never became fully socialist” will not be a defense of socialism. A socialist with power, governing from a socialist worldview — that is socialism being tried, whether or not the conversion completes.
That’s what happened across Latin America.
Voters didn’t reject an abstract ideology.
They rejected its concrete results.
And the deeper the conversion went, the worse it got — Venezuela went furthest and fell hardest.
“It just needed more time” is not the lesson.
The reverse objection comes from the other direction: “Norway’s government owns oil companies, so Norway is socialist.”
No. Socialism is when public ownership is the rule. A few state-owned companies are the exception that proves the rule — Alaska has oil revenue too.
How to Talk Someone Out of Socialism Without Losing Them
I’m writing a lot about socialism because I think it’s a bad idea.
That said, simply calling something a bad idea doesn’t change people’s minds.
Many of you have friends or family who find socialism appealing.
Here are some concrete instructions to help you in those conversations.
First. Never argue against socialism in the abstract. You’ll both lose. Do this instead.
Step one: ask them to define it. “When you say socialism, what do you mean by that?” Nine times out of ten you’ll hear: healthcare people can afford, housing people can afford, childcare, education.
Step two: agree with the goals. Sincerely — assuming you share them, and I do. “I want people to have healthcare and housing they can afford too.” You’ve just converted a duel into a collaboration. Most political conversations die before this sentence gets said.
Step three: offer the actual definition. “Can I share what socialism technically means? It’s about who owns the farms, factories, grocery stores, and companies that produce everything. Socialism moves that ownership from entrepreneurs and businesses to centralized control — usually the government. The question it answers is who owns production, rather than which services people receive.”
Step four (if they bring up Scandinavia): “The countries you’re pointing to are market economies with strong safety nets — funded by taxing private wealth creation. Their own leaders insist on this. So what you might want is better capitalism — and that, we can build.”
Step five: only now, the evidence. Venezuela, where socialism went all the way. A continent’s rejections everywhere it went partway. Presented as data to consider, rather than as a gotcha.
We practice conversational strategies like this in Clear Thinker Academy, and help people be honest without losing relationships.
If you’d rather train these skills than just read about them, that’s what the Academy is for: clearthinkeracademy.com
The Fix: Revert to the Previous Working Version of Capitalism
The worst way to fight socialism is to defend the current version of capitalism. The current version is the recruiting poster for socialism.
What we’re running now is captured capitalism.
Since Citizens United, outside political spending exploded from $574 million in 2008 to $4.5 billion in 2024.
A single billionaire matched the combined donations of three million small donors.
Corporations shipped labor abroad, institutional investors outbid families for starter homes, and the rules are increasingly written by the industries they’re supposed to govern.
Young people conclude the game is rigged because, in the ways that touch their lives most, it is.
Socialism’s appeal is a symptom. Captured capitalism is the disease.
And the cure isn’t even theoretical.
We can start by just reverting to the previous working version of capitalism.
In 1996, socialism had no constituency in this country.
Because capitalism was delivering: rising wages, attainable homes, a middle class that could plan a future.
That system — markets that compete, a government that isn’t totally for sale — was the last working version, and restoring it is a repair job: through campaign finance reform and smarter laws so more housing can be built.
The way to beat socialism is to give people a capitalism worth keeping.
Know a Tree by Its Fruits
You don’t need history books to evaluate socialism anymore.
You don’t even need a passport.
You can go look at the results in the present day — or talk to the people in America who escaped them.
The evidence is alive, it speaks Spanish, and for three years it has been voting — in country after country — against socialism.
An entire continent tried this worldview at every level of intensity and is climbing out of the hole.
America needn’t stand at the edge of that hole, asking what would happen if we jumped in too.
Find more here on Clear Thinker…
US Debt-Servicing Payments Climb 200% In Five Years
Yes, U.S. federal net interest (debt-servicing) payments have risen sharply—roughly tripling or nearly so over roughly five years—driven by higher debt levels and elevated interest rates.
pgpf.orgKey figures (primarily net interest outlays on debt held by the public, the standard budget measure from Treasury/CBO/OMB data):
- FY 2020: ~$345 billion. cbo.gov
- FY 2021: ~$352 billion. raw.githubusercontent.com
- FY 2024: ~$880–$882 billion.
- FY 2025: ~$970 billion (some measures note it crossed $1 trillion on certain definitions of interest on public debt). pgpf.org
- FY 2026 (partial/run-rate): On track for about $1.0–1.05 trillion annually; cumulative through roughly the first 9 months was already elevated (e.g., reports of ~$749–$827 billion ranges depending on exact cutoff, running ~7–10.5% above the prior year). pgpf.org
From FY 2020 (~$345B) to FY 2025 (~$970B) is an increase of roughly 180% (nearly 2.8×). From FY 2021 it is in a similar range. Sources commonly describe this as “nearly/roughly tripled since 2020” or note strong multi-year growth; a round “200% climb” (i.e., tripling) is a close approximation used in discussions of the trend.
fortune.com
KING NEWS
| The King Report August 11, 2026 Issue 7802 | Independent View of the News |
| The FT: Yen sinks as effect of US-Japan intervention fades The currency bounced from a four-decade low around ¥164 to the dollar in late July to close to ¥155 following interventions by Tokyo and Washington but has since fallen back. The yen weakened by as much as 0.8 per cent to ¥159 to the dollar on Monday… https://www.ft.com/content/47d2ab3c-0423-49ed-89ca-68683761ed98?syn-25a6b1a6=1 Global M2 is making new highs ($103.2 trillion). It strongly correlates with the S&P 500 Index. (Chart) https://streetstats.finance/liquidity/money/ @Mr_Derivatives: Margin debt hit an all-time high of $1.5T last month. People borrowing now more than ever in the stock market. @Barchart: Stock Market hits 2nd most expensive valuation in history, far surpassing the Crash of 1929 and only slightly behind the Dot Com Bubble (Per Shiller CAPE – Cyclically Adj Price/Earnings) https://x.com/Barchart/status/2086584511614030048 @GlobalMktObserv: THIS HAS NEVER HAPPENED: The US technology sector’s market capitalization has exceeded 50% of the S&P 500’s total market capitalization for the first time EVER. This share has DOUBLED over the last decade. https://x.com/GlobalMktObserv/status/2086875693409763618 @KasraAarabi: The new military and security appointments in Iran indicate the regime is preparing to adopt a more confrontational operational approach at home and abroad. This suggests Tehran has calculated that Trump has little appetite for war. If so, it could prove a major miscalculation. @geraldposner: Gen. Jack Keane with a blunt wake-up call this morning: we keep judging the pain threshold on Iran through our Western lens — the blockade’s daily economic damage, the collapsing currency and runaway inflation. We assume at some point they will fold their hand. Wrong. This is an Islamic regime that doesn’t care what its people suffer. “They have an ideology that they’re holding to. They absolutely believe right now that they have the upper hand.” Even if they signed concessions, “we already have evidence that they won’t comply with it.” And the part that should concentrate every mind: “They’re going to get more violent because as we get closer to the midterms, they want to create a volatile situation that demonstrates that the administration is not managing the war properly.” A win for Iran is damaging the White House at the ballot box. They have always been finely tuned to American political resolve. Keane is clear-eyed about the reality we face. Wish he had an inside seat in this administration to focus the response instead of watching us get played by the Iranians. https://x.com/geraldposner/status/2086829667483320475 @realDonaldTrump: I see that Representatives of the Islamic Republic of Iran are asking for compensation for the damage done to them during the last five month Military Conflict (started because, THEY WILL NOT HAVE A NUCLEAR WEAPON), even though it was never mentioned in any of our negotiations or meetings! But it is an interesting idea because now I am likewise demanding compensation from Iran, for all of the people that they have killed and gravely wounded with their roadside bombs and many conflicts, for which they are famous, as led initially by General Soleimani, including the families of those killed on the USS Cole, and thousands of others killed in combat. Additionally, compensation should be paid to the families of the hundreds of thousands of innocent protestors that Iran has killed over the last 50 years, not to mention the 52,000 that have been killed in the last five months. I have instructed my representatives to put this… into… future negotiations… Also, with respect to the Iran negotiations, Iran should be responsible for the damages and death caused to the people of Lebanon, Syria, Yemen, and Gaza!… The S&P 500 Index opened soft and fell to a daily of 7748.42 at 9:34 ET. Conditioned traders eagerly and aggressively bought the opening dip. The S&P rallied to 7773.76 at 10:49 ET. Sellers returned; the index fell to Near the 11:30 ET European close: S&P 500 +0.02%, Energy Sector +3.36%, Oil Service +4.29%, Housing Index -2.17%, SOX Index -1.76%, DJIA -0.01%, DJTA -0.25%, Nas -0.28%, Nas 100 -0.20% Sept WTI Oil +$3.11, Sept Gasoline +13.34 cts, Dec Gold + 9.10, USUs -13/32, the yen/$ 158.96 Key stocks 11:15 ET: MU -0.67%, SpaceX -1.82%, NVDA -2.19%, SNDK +2.25%, MSFT +1.83%, APPL -2.17%, PLTR +3.54%, AMD -1.43%, INTC -3.50%., META +1.13%, TSLA +0.35% The first two hours of trading were unusually lame, even for peak vacation season. The most notable feature was the surge in energy commodity prices. Despite Bessent, Trump, and others’ assertion that ‘a deal to open the Strait of Hormuz’ would appear on Wednesday, then Thursday, then Friday, then the weekend, there is not a scintilla of evidence that a deal is nigh. ESUs opened soft and fell to a daily low of 7763.00 at 18:17 ET on Sunday night. But they quickly commenced a rally on the ingrained Sunday night buying. After marching to 7796.25 (+16.50) at 3:45 ET, ESUs fell to 7796.75 at 9:28 ET. Conditioned buying for the NYSE opening spiked ESUs to the daily high of 7798.00 (+18.25) at 10:45 ET. An ABC decline took ESUs to 7764.50 at 12:31 ET. The afternoon rally was relentless and propelled ESUs to 7780.50 at 15:18 ET; but they broke lower at 15:25 ET on trader liquidation. ESUs fell to 7775.25 at 15:45 ET. The late manipulation forced ESUs to 7778.75 at 15:49 ET. Alas, too many traders were long and an impactfully July CPI Report beckoned. ESUs fell to 7771.75 at 15:53 ET. Another late manipulation appeared; ESUs jumped to 7779.00 at 15:59 ET. ESUs eased to 7775.00 at 16:00 ET. @OilHeadlineNews: Trump: “The only one that has control of the Strait of Hormuz right now is the United States Navy. We have a blockade that’s been infallible—it’s a steel wall… We control the Strait, 100%.” 4:01 PM · Aug 10, 2026 https://x.com/OilHeadlineNews/status/2086905801403158860 Positive aspects of previous session S&P Healthcare +1.68%, Oil Service +5.82%, S&P Energy +4.63%, GS Commodity Index +2.73% Negative aspects of previous session Brent Oil +$4.17, +4.99% settle; Sept WTI Oil +$3.95, +5.05% settle; Sept Gasoline +15.10cts 14:28 ET USUs -17/32 low, 30-yr 5.25%; 2-yr 4.25%; Dec Gold +$26.80 at 14:40 ET, breakout to 7-week high S&P 500 -0.15%, Info Tech -1.10%, Real Estate -1.23%, Utes -1.11%; DJTA -0.65%, DJTA -0.11%, DJUA -1.01%, Sox Index -2.94%, Nasdaq -0.32%, Nas 100 -0.34% Ambiguous aspects of previous session How much of Monday lethargy was looming July CPI, peak vacation season, DJT-Iran perplexity? First Hour/Last Hour NYSE Action [S&P 500 Index]: 1st Hour: Up; Last Hour: Down Pivot Point for S&P 500 Index [above/below indicates daily trend to day traders]: 7756.63 Previous session (S&P 500 Index) High/Low: 7773.76 (10:49 ET); 7743.11 (13:44 ET) @nypost: Fauci privately warned of miscarriage risk linked to COVID vaccine while publicly claiming no issues, newly released texts show https://trib.al/bDcp5GG Trump Signs Childhood Immunization EO to Limit Shots – Claims MMR Vaccine Can Be ‘Quite Lethal’ https://trib.al/ES2I7IS Trump: Should have 5 separate visits for vaccines, instead of all on the same day Trump: Vaccinations for Hepatitis B, Covid-19, and Influenza, among Others, No Longer Recommended for Children Trump: Administration Recognizing Childhood Vaccine Recommendations for Only 11 Core Vaccinations [Measles, mumps, rubella (MMR), Chickenpox, Polio, Diphtheria, Tetanus, Whooping Cough, Influenzae Type B, Pneumococcal Disease, Human Papillomavirus (HPV)] Trump: For far too long, America has recommended more childhood vaccines than any peer nation, and even twice as many doses as some European countries. In many cases, we were requiring 72 jabs for our beautiful, healthy, lovely, delicate little children. Effective immediately, my administration’s recognizing Gold Standard childhood vaccine recommendations for only 11 core vaccinations against the most serious and dangerous diseases, along with the MMR. We want it in three separate vaccinations, given at separate times. @chartfleau: S&P 500 Monday performance by sector. https://x.com/chartfleau/status/2086908112653648222 The FT: Wall Street giants partner with Nvidia on $500bn AI financing deal Apollo, Blackstone and Goldman Sachs are among groups working with chipmaker to raise capital for data centre boom… https://www.ft.com/content/98a8fd17-15b6-4f67-9cb4-825722b11348?syn-25a6b1a6=1 Today – Activity could be lame again because the July CPI Report is due tomorrow, and it is peak vacation time. The Street unfathomably expects July CPI to be only 0.1% m/m & 3.4% y/y with gasoline and diesel prices soaring during July. The Street expects July Core CPI of 0.3% m/m and 2.5% y/y. ESUs are -1.50; NQUs +3.50; USUs -5/32; WTI Oil is -$0.02; Gasoline is -0.08 cts at 20:23 ET. The yen/$ is 159.192. Expected Economic Data: July NFIB Business Optimism 97.2; July Existing Homes Sales 4.01m Trading sardine expected earnings: Super Micro Computer (SMCI) Q2 EPS of .96; Core Weave (CRWV) Q2 EPS of -1.45; Tencent Music (TME) Q2 EPS of .23 S&P Index 50-day MA: 7498; 100-day MA: 7268; 200-day MA: 7054 (S&P 500 Close 7753.03) DJIA 50-day MA: 52,121 100-day MA: 50,296; 200-day MA: 49,276 (DJIA Close 53,975.98) (Green is positive slope; Red is negative slope) DSA darling Francesca Hong doesn’t just want to cancel Thanksgiving – all her nuttiest takes ahead of pivotal Wisconsin primary https://trib.al/jhsfDIc Sports Illustrated edits Sophie Cunningham ‘karma’ headline after creating social media firestorm The initial title sparked backlash as Cunningham has faced criticism for her stance on transgender athletes in women’s sports… Citing “karma” as the reason behind Cunningham taking a hard foul while she’s received constant backlash for stating that men do not belong in women’s sports came across, to many, as a pointed effort from Sports Illustrated… https://www.foxnews.com/outkick-sports/sports-illustrated-edits-sophie-cunningham-karma-headline-creating-social-media-firestorm | |
SWAMP STORIES FOR YOU TONIGHT
Residents Storm City Council In Texas Over Islamic Center Approval
Tuesday, Aug 11, 2026 – 09:05 AM
Authored by Steve Watson via Modernity News,
Outrage is boiling in North Texas after the McKinney City Council voted 7-0 to greenlight a major new Islamic center complex, brushing aside hours of public testimony that included a direct warning from an Iranian Christian who fled Sharia law.
Citizens packed City Hall for a marathon session that stretched past midnight. More than 150 people signed up to speak. The approved site plan covers roughly 5.5 acres at Virginia Parkway and Crutcher Crossing. It includes a 15,000-square-foot sanctuary, a 10,000-square-foot classroom building, and a 7,000-square-foot gym for the McKinney Islamic Association, which says its existing facility has been outgrown.
City staff insisted the revised plan met every zoning requirement with no variances, leaving the council little legal room to deny it. Council members framed the vote as purely procedural. Residents who showed up in force saw something far larger at stake.
One of the most powerful moments came from an Iranian Christian migrant who identified himself as a Sharia law survivor. “I’m a Sharia law survivor from Iran, an I’m here to tell you, this is a dangerous ideology you’re allowing in the country,” he told the council.
Other residents voiced similar fears. “They forced their way into countries and forced their religion,” one said. Another warned the project “may become a base where young men and women will be taught and trained to overthrow this great nation, a threat for which my forefathers fought with their own blood to build for the liberty of its citizens.”
Attention also focused on the association’s imam, Sheikh Mohammed Ajabali (also referred to as Mohamed AlGebaly), who holds a leadership role with the Islamic Tribunal of the Dallas area.
Texas Attorney General Ken Paxton’s office has examined the tribunal, stating that the group has sought to replace actual courts of law, impose Sharia on disputes among Texas Muslims, and falsely represent its decisions as final judgments with the approval of the Texas judicial system.
State Rep. Keresa Richardson urged the council to pause action pending that investigation. U.S. Rep. Keith Self, who represents the area, told the room: “Child marriage, honor killings, don’t tell me that can’t happen here. There is no state cavalry coming to save you.” He added that the freedom to choose one’s faith “does not exist in political Islam.”
Supporters of the project stressed religious liberty, the association’s long presence in McKinney, and compliance with city rules. Association president Yasser Wardany said the group had redesigned the plan multiple times in response to earlier feedback and remained “committed to being a good neighbor.” Some council members pushed back against the intensity of the opposition, calling elements of it election-year rhetoric. The vote still went through unanimously.
This fits a clear and accelerating pattern across North Texas that has already drawn intense scrutiny from state leaders and local residents.
Earlier this year, Congressman Keith Self laid out how Sharia-adherent Muslim-only enclaves have already taken root. He pointed to the East Plano Islamic Center operating for more than a decade as a parallel society immediately adjacent to law enforcement facilities, with a similar pattern emerging in Irving.
“Sharia is alive, well, and operating in Plano, Texas,” Self said. “This is not a hypothetical or future threat. It is here, now and operational.” He described the placement next to police training facilities as intentional intimidation.https://modernity.news/2026/03/31/sharia-law-in-texas-rep-exposes-muslim-only-enclaves-operating-next-to-police-hqs/embed/
State authorities have also moved against unauthorized institutions. Governor Greg Abbott directed the Texas Higher Education Coordinating Board to issue an immediate cease-and-desist order against the so-called Texas American Muslim University in Richardson.
The operation had been marketing itself as the first U.S. university offering STEM degrees embedded with mandatory Islamic Studies courses while lacking any state authorization to grant degrees or even use the title “university.” Abbott made clear that illegal educational institutions would not be tolerated.https://modernity.news/2026/05/09/texas-orders-unauthorized-muslim-university-to-cease-operations-immediately/embed/
Public facilities have been pulled into the same orbit. A taxpayer-funded waterpark in Grand Prairie, built with tens of millions in public sales-tax money, advertised a “Muslim only” Eid event complete with burkini requirements, lowered-gaze rules, and other Islamic etiquette restrictions. Organizers later softened the public language after backlash, but the exclusionary character of the original promotion was unmistakable.https://modernity.news/2026/05/06/texas-taxpayer-funded-waterpark-advertises-muslim-only-event/embed/
The same controversy intersects with the far larger “EPIC City” project, later rebranded The Meadow. The 400-acre master-planned development northeast of Dallas is designed to include more than 1,000 homes, a mosque, faith-based schools, commercial space, and related facilities.
Developers scored a legal win when a judge ordered a state agency to comply with prior agreements even as investigations by the Texas Workforce Commission, Attorney General Paxton, and federal partners continued.
Governor Abbott has repeatedly stated that Sharia law, Sharia cities, and “no-go zones” have no place in Texas. Residents and elected officials continue to warn that the project risks creating a parallel community structure.https://www.youtube.com/embed/lMYZvqfF9Hc
McKinney’s approval lands against this backdrop. Local officials repeatedly insisted their hands were tied by zoning compliance and First Amendment considerations.
Residents who lived under actual Sharia systems, along with those watching the steady expansion of parallel institutions next to police facilities, private tribunals under investigation, unauthorized universities, and large-scale residential projects, see a different picture: incremental infrastructure for an ideology that does not accept equal standing under a single constitutional order.
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Even Lefty Joe Scarborough Goes Nuclear On Dems For Refusing To Disavow Democratic Socialists
Tuesday, Aug 11, 2026 – 01:45 PM
“Morning Joe” host Joe Scarborough went absolutely nuclear on elected Democrats Monday morning for refusing to denounce the party’s rising far-left wing. He specifically cited far-left types such as Hasan Piker, a self-described Marxist who is the unofficial spokesman for the Democratic Socialists of America. Some DSA leaders have said in their own words that the goal is “to destroy America from within.”
Piker’s toxic rhetoric has included attacks on America, calls to “kill capitalists,” and inflammatory remarks promoting hatred and violence.
In one clip, Piker said: “We want more immigrants to come into your countries, and then they’re gonna f**k your sisters and then your daughters. We’re here to destroy the White Race, bitch.”
Piker has a long history of hatred and violent rhetoric, but this is nothing new for the DSA, which is systematically pushing revolutionary Marxism to collapse the nation from within. So, this toxic rhetoric should make sense.
Meanwhile, the DSA has devolved into a “red-green alliance” of Islamists and communists….
And the latest comments from Piker to surface include:
Here’s Scarborough from yesterday:
But please, I don’t need people telling me, oh, you have to just turn a blind eye to people saying that women getting raped on October 7th didn’t matter in the grand scheme of things. Americans aren’t going to support that!
This is not about me. This is about the Democrats once again fumbling the football on the two-yard line when they have a chance to make great gains, but being so woke—I don’t know if you want to call it woke one, woke two, or woke three—but being too woke to call out the obvious! I swear to God, it’s really crazy that we’re even having this conversation.
If somebody says a woman being raped doesn’t matter in the grand scheme of things, it’s okay to call that person out and demand that candidates distance themselves from those people if you want to rule over a party and win elections.
If somebody says going to a rally the day after Hamas slaughters more Jews than any time since the Holocaust, it’s okay for Chuck Schumer, it’s okay for Hakeem Jeffries to call that despicable and demand that people distance themselves from that. That’s okay!
So why are we bringing this up now? We’re bringing this up now because it seems an awful lot like what was happening in 2024 when Democrats couldn’t get out of their own way to win an election they should have won.”
Left-wing Senator Chuck Schumer had his chance to denounce the Democratic Socialists but instead recently said, “Being a big-tent party is a strength, not a weakness.”
Scarborough is not the only voice in the Democratic Party denouncing the DSA.
Last Friday, Hillary Clinton warned about the unhinged socialist, saying on a podcast that Republicans are deploying what she called a “very effective” anti-communist attack against the Democratic Party’s rising class of far-left candidates.
Let’s not forget:
DSA is far-left; let’s not forget that.
The rise of socialist and Marxist factions within the Democratic Party carries an obvious political risk ahead of midterms: years of radioactive sound bites have created an opposition-research gold mine and what could become a major “gift to Republicans” in the midterms.
The deeper concern is radicalization pipelines that aren’t just colleges and funded by billionaire foundations via nonprofits but also influence linked to the communist regimes in Cuba and China, alongside an increasingly visible alliance between far-left activists and Islamist movements. Eyes on Middle East Children’s Alliance (MECA) and China Marxist billionaire Neville Roy Singham.
GREG HUNTER….
harveyorganblog.com 
