GOLD: NUMBER OF NOTICES FILED FOR AUGUST/2026: 90 CONTRACTs NOTICES FOR 90,000 OZ or 0.2799 TONNES
total notices so far: 17,626 contracts FOR 1,762,600 OZ OR 54.979 TONNES
SILVER NOTICES: 0 NOTICE(S) FILED FOR NIL OZ /
total number of notices filed so far this month : 1468 CONTRACTS (NOTICES) for 7.340 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 140 CONTRACT EXCHANGE FOR PHYSICAL TRANSFER TO LONDON FOR 0.699 MILLION OZ//NEW STANDING REDUCES TO 8.055 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: 20.925 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 699,000 OZ EXCHANGE FOR PHYSICAL TRANSFER//STANDING REDUCES TO 8.055 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 3RD EXCHANGE FOR RISK OF 1.7045 TONNES TO OUR 2ND EXCHANGE FOR RISK OF 1.552 TONNES TO OUR FIRST 0.0715 TONNES EXCHANGE FOR RISK//NEW TOTAL EXCHANGE FOR RISK: 3.3312 AND THEN ADD OUR NEXT QUEUE JUMP OF 280 CONTRACTS FOR 28,,000 OZ OR 0.8704 TONNES//STANDING ADVANCES TO 59.119 TONNES
IN ESSENCE WE HAVE A FAIR GAIN IN TOTAL CONTRACTS IN GOLD ON THE TWO EXCHANGES OF 2012 CONTRACTS WITH 1012 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 1020 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON.
THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 2082 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A SMALL SIZED AND CRIMINAL 539 CONTRACTS AND THESE ISSUANCES ARE GENERALLY USED TO INITIATE A RAID WHEN CALLED UPON .
GOLD PRICE ROSE BY $16.55
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 TO OUR 3RD EXCHANGE FOR RISK OF: 1.7045//TOTAL FOR EXCHANGE FOR RISK 3.3312 TONNES TO OUR NEXT QUEUE JUMP OF 0.8704 TONNES//STANDING ADVANCES TO 59.119 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: 89.359 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 FELL BY A SMALL 141 CONTRACTS TO AN OI OF 118,780
EFP ISSUANCE 200 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 200 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 141 CONTRACTS AND ADD TO THE 200 E.FP. ISSUED
WE OBTAIN A SMALL GAIN OF 59 OI OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES DESPITE OUR GAIN OF $0.19
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 0.295 MILLION PAPER OZ
STANDING REDUCES TO 8.055 MILLION OZ
SILVER PRICE GAIN OF $0.19
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2.ASIAN AFFAIRS AUGUST 17 /2025
AUGUST 17 2026
SHANGHAI CLOSED UP 55.48 PTS OR 1.41%
HANG SENG CLOSED UP 336.38 PTS OR 1.34%
Nikkei CLOSED UP 480.20 PTS OR 0.70%
//Australia’s all ordinaries CLOSED DOWN 0.34%
//Chinese yuan (ONSHORE) CLOSED UP TO 6.7383
/ OFFSHORE CLOSED UP AT 6.7831 Oil UP TO 83.03 dollars per barrel for WTI and BRENT UP TO 89.42 Stocks in Europe OPENED ALL MIXED
ONSHORE USA/ YUAN// WITH YUAN TRADING UP (6.7383 OFFSHORE YUAN TRADING UP TO 6.7383 ONSHORE YUAN TRADING AT LEVEL // OFF SHORE AND UP ON THE DOLLAR)// / AND THUS STRONGER/OFF SHORE YUAN TRADING UP AGAINST US DOLLAR/ AND THUS STRONGER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A FAIR 1,012 CONTRACTS TO 406,848 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 NO T.A.S. LIQUIDATION DURING FRIDAY’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 AGAIN 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!!
WE HAD A FAIR SIZED GAIN ON OUR TWO EXCHANGES (2,032 CONTRACTS) OCCURRED WITH OUR GAIN IN PRICE IN GOLD (UP $16.55)
WE THUS HAD A FAIR GAIN IN OI ON BOTH OF OUR EXCHANGES (2032 CONTRACTS), WITH OUR GAIN IN PRICE, AS WE WERE INFORMED OF A FAIR CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE EQUATING TO 1020 CONTRACTS.
THEN WE WERE NOTIFIED TODAY OF A ZERO CONTRACT FOR RISK ISSUANCE IN GOLD CONTRACTS FOR 0 OZ OR 0 TONNES OF GOLD. TOTAL THUS SO FAR THIS MONTH: 1071 CONTRACTS//107,100 OZ OR 3.3312 TONNES (3 OCCASIONS)
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: 1071 CONTRACTS FOR 107,100 OZ OR 3.3312 TONNES (3 OCCASIONS THIS MONTH)
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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: 1071 CONTRACTS FOR 107,100 OZ OR 3.3312 TONNES//3 OCCASIONS
DETAILS ON OUR NEW AUG COMEX CONTRACT MONTH//
IN TOTAL WE HAD A FAIR GAIN ON OUR TWO EXCHANGES OF 2,032 CONTRACTS WITH OUR GAIN IN PRICE ($16.55). 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 537 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: 1071 CONTRACTS FOR 107,100 OZ OR 3.3312 TONNES
WE MUST ALSO REMEMBER THAT THE FRBNY IS SHORT 131+ 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 3RD EXCHANGE FOR RISK AT 1.7045 TONNES TO OUR 2ND EXCHANGE FOR RISK AT 1.552 TONNES TO OUR FIRST: 0.0715 NEW TOTAL EXCHANGE FOR RISK = 3.3312 TONNES AND THEN ADD OUR NEXT QUEUE JUMP OF 280 CONTRACTS OR 28,000 OZ (0.8704 TONNES)//STANDING THUS ADVANCES HUGELY TO 59.119 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 $16.55)
WE HAD ZERO T.A.S. SPREADER LIQUIDATION FRIDAY // 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 FRIDAY EVENING //SATURDAY 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 $16.55
WE HAD 4,275 CONTRACTS REMOVED FROM PRELIMINARY NUMBERS TO FINAL COMEX NUMBERS.
NET GAIN ON THE TWO EXCHANGES: 2032 CONTRACTS OR 203,200 OZ (6.32 TONNES)
AUG DELIVERY MONTH
AUGUST 17
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 2 ENTRIES i) Into Brinks: 3000.01 oz ii) Into HSBC: 2500.03 oz total deposit: 5500.04 oz |
| Deposit to the Dealer Inventory in oz | 0 ENTRIES |
| Deposits to the Customer Inventory, in oz | DEPOSITS/CUSTOMER//gold i) Into Manfra customer acct 6,333.747 oz (197 kilobars) xxxxxxxxxxxxxxxx |
| No of oz served (contracts) today | 90 CONTRACTS 9,000 OZ 0.2799 TONNES OF GOLD |
| No of oz to be served (notices) | 310 Contracts 31,000 OZ 0.9657 TONNES |
| Total monthly oz gold served (contracts) so far this month | 17,626 notices 1,762,600 OZ 54.979 TONNES |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month |
dealer deposits: 0
xxxxxxxxxxxxxxxxxxx
DEPOSITS/CUSTOMER
ENTRIES: 2
i) Into Brinks: 3000.01 oz
ii) Into HSBC: 2500.03 oz
total deposit: 5500.04 oz
xxxxxxxxxxxxxxxxxx
comex withdrawal
0 ENTRIES
adjustments: 1 CUSTOMER TO DEALER
a) Manfra: 6365.898 oz
COMEX IS DRAINING GOLD
chaos inside the comex
THE FRONT MONTH OF AUG OI STANDS AT 400 CONTRACTS HAVING A LOSS OF 576 CONTRACTS.
NORMAL STANDING FOR GOLD YESTERDAY: 54.918. TODAY’S STANDING IS 55 TONNES TO WHICH WE ADD OUR 3.3312 TONNES EXCHANGE FOR RISK. THE NORMAL STANDING INCLUDES OUR NEXT 450 CONTRACT QUEUE JUMP OR AN ADDITIONAL 45000 OZ (1.3996 TONNES) AND THESE WILL STAND AT THE COMEX.
SEPTEMBER LOST 250 CONTRACTS DOWN TO AN OI OF 5243
OCT GAINED 49 CONTRACTS TO AN OI OF 52,891
.
We had 90 contracts filed for today representing 9,000 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 90 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 11 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 (17,626) to which we add the difference between the open interest for the front month of AUG (400 CONTRACTS) minus the number of notices served upon today 90x 100 oz per contract) equals 1,793,600 OZ OR (55.788 Tonnes of gold)then we add our three exchange for risk of 1071 contracts for 107,100oz or 3.3312..new standing advances to 59.119 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 (17,626) to which we add the difference between the open interest for the front month of AUG( 400) contracts minus the number of notices served upon today 90 x 100 oz per contract) equals 1,793,600 OZ OR (55.788 Tonnes of gold) plus 3.3312 tonnes exchange for risk..new standing advances to 59.119 tonnes
new total of gold standing in AUG becomes 59.119 TONNES//
TOTAL COMEX GOLD STANDING FOR AUG 59.119 TONNES TONNES WHICH IS NOW REALLY HUGE FOR THIS ACTIVE DELIVERY MONTH OF AUG
confirmed volume FRIDAY confirmed 148,772/ 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: 1,733,505.786 oz 53.919 tonnes pledged gold lowers
total inventories in gold declining rapidly
total pledged gold: 1,733,505.786 tonnes oz 53.919 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 26,668,837.699 oz
TOTAL REGISTERED GOLD 14,475,184.497 tonnes (450.23 tonnes)
TOTAL OF ALL ELIGIBLE GOLD 12,173,653.262 oz. Lots of eligible gold leaving the comex
REGISTERED GOLD THAT CAN BE SERVED UPON 12,741,677oz ((REG GOLD- PLEDGED GOLD)=
396.319 Tonnes //
total inventories in gold declining rapidly
SILVER COMEX
AUG DELIVERY MONTH
AUGUST 17
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 2 entries i) Out of Delaware: 9687.300 oz b Out of CNT: 55081.608 oz total withdrawal: 64,728.907 oz |
| Deposits to the Dealer Inventory | 0 |
| Deposits to the Customer Inventory | ENTRY: 0 |
| No of oz served today (contracts) | 0 CONTRACT(S) ( 0.000 MILLION OZ) |
| No of oz to be served (notices) | 143 Contracts (0.715 MILLION oz) |
| Total monthly oz silver served (contracts) | 1468 contracts 7.340 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: 0
xxxxxxxxxxxxxxxxxxxxxxxxx
withdrawals: 2 entries
i) Out of Delaware: 9687.300 oz
b Out of CNT: 55081.608 oz
total withdrawal: 64,728.907 oz
adjustments :2 dealer to customer:
a) CNT 182,715.897 oz
b) Asahi: 88,297.280 oz
xxxxxxxxxxxxxx
TOTAL REGISTERED SILVER: 99.100 MILLION OZ//.TOTAL REG + ELIGIBLE. 335.165 Million oz
registered silver dropping in numbers
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR AUGUST
FRONT MONTH: SILVER OPEN INTEREST CONTRACTS: 143 FOR A LOSS OF 1 CONTRACT.
YESTERDAY WE HAD 8.754 MILLION OZ STAND YESTERDAY: TODAY WE HAVE 8.055 MILLION OZ STAND
THUS WE HAVE A LOSS OF 140 CONTRACTS I.E. A STRONG 0.699 MILLION OZ WILL UNDERGO A HUGE EXCHANGE FOR PHYSICAL TRANSFER TO LONDON AND STAND FOR SILVER OVER THERE.
SEPTEMBER SAW A LOSS OF 1954 CONTRACTS UP TO AN OI OF 57,903 CONTRACTS
OCT GAINED 308 CONTRACTS TO AN OI OF 1654
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 0 or 0.000 MILLION oz
CONFIRMED volume FRIDAY; 42,605// 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 1468 X5,000 oz = 7.340 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: (1468 )Notices served so far) x 5000 oz + OI for the front month of AUG ( 400 ) minus number of notices served upon today (0 x 5000 oz) equals silver standing for the AUG .contract month equating to 8.055 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 99.371 million oz of registered silver
JPMorgan as a percentage of total silver: 137.898/335.165million: 41.16%
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 17//2026/WITH GOLD UP $36.70 /HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.28 TONNES OF GOLD FORM THE GLD: //:/INVENTORY RESTS AT 1023.53 TONNES
AUGUST 14//2026/WITH GOLD UP $16.55 /NO CHANGES IN GOLD AT THE GLD: : //:/INVENTORY RESTS AT 1025.80 TONNES
AUGUST 13//2026/WITH GOLD DOWN $43.05 /HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 3,139 TONNES OF GOLD INTO THE GLD. : //:/INVENTORY RESTS AT 1025,80TONNES
AUGUST 12//2026/WITH GOLD UP $24.55 /HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.562 TONNES OF GOLD INTO THE GLD. : //:/INVENTORY RESTS AT 1022.672TONNES
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: 1023.53 TONNES, TONIGHTS TOTAL GOLD INVENTORY
SILVER
AUGUST 17 WITH SILVER UP $1.11 : :SMALL CHANGES IN INVENTORY AT THE SLV A WITHDRAWAL OF 768,000 OZ OUT OF THE SLV. / :INVENTORY RESTS AT 492.296 MILLION OZ
AUGUST 14 WITH SILVER UP $0.19 : :SMALL CHANGES IN INVENTORY AT THE SLV A DEPOSIT OF 720,000 OZ INTO THE SLV. / :INVENTORY RESTS AT 493.064 MILLION OZ
AUGUST 13 WITH SILVER DOWN $0.92 : :NO CHANGES IN INVENTORY AT THE SLV / :INVENTORY RESTS AT 492.341 MILLION OZ
AUGUST 12 WITH SILVER UP $0.75 : :HUGE CHANGES IN INVENTORY AT THE SLV;A DEPOSIT OF 3.434 MILLION OZ INTO THE SLV / :INVENTORY RESTS AT 492.341 MILLION OZ
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 492.296 MILLION OZ OF SILVER
GOLD COMMENTARIES:
1.PETER SCHIFF
2. MATHEW PIEPENBERG/EGON VON GREYERZ//ALASDAIR MACLEOD..
ALASDAIR MACLEOD…
Market mayhem ahead
Complacency over events in the Middle East is staggering. But rising gold and bond yields are now chipping away at this delusion. Slowly, then rapidly reality returns.
| Alasdair MacleodAug 16∙Paid |  |
The chart of major currencies valued in gold shows them plunging at an accelerating pace, despite the six-month correction since January. The pace of their collapse is now resuming and if it continues, they will approximately halve by December. That implies a gold price exceeding $9,000. Not a forecast, just an extrapolation.
This article looks at the factors that might lead to this outcome; an outcome which implies a continuing collapse of major currencies’ purchasing powers which is unlikely to stop at a halving. Inevitably, it will lead to long bond yields rising rapidly which will destroy government finances and the fiat currency illusion.
The potential for bond yields to rise is clearly demonstrated in our next chart:
Some G7 bond yields have already broken out on the upside, and you can tell that Scott Bessent at the US Treasury is running scared by his recent actions and his panicking over Iran. He promises to implement further economic pressures on Iran “that have never been seen before.” This is yet more weaponizing of the dollar, which has already been counterproductive against Russia and made the US enemies throughout the Global South.
Keep digging that hole, Scott.
This is a loser’s story, and American investors have yet to realise that a war on the other side of the world is having major economic and geopolitical consequences. It is becoming a showdown between China and America, between the rapidly inflating dollar and the yuan. US bases in the Persian Gulf have been bombed out of existence and US forces are now bottled up in Israel. Other than Israel, all US allies in the region are pleading with Trump not to mount another attack against Iran. If she is attacked, Iran has promised to wipe out regional infrastructure including water desalination and power plants, making the region uninhabitable.
Whatever Bessent says, Iran is not budging and has mighty China on her side. She can wait it out. Meanwhile, the US has exhausted her oil reserves, and the oil price will start rising from its current $82. Diesel shortages upon which transport and logistics rely are running out. Iran is like Dirty Harry with respect to Trump: “This is a .44 Magnum, the most powerful handgun in the world and would blow your head clean off. You’ve gotta ask yourself one question: ‘Do I feel lucky?’ Well do ya, punk?”
The US is out of ammo while Iran has yet to deploy its most lethal hypersonic missiles. Yet the punk cannot back down: it’s not in his temperament. China watches this real-life movie play out rooting for Dirty Harry. It is leading to the destruction of America’s hegemony and the petrodollar, and the rise of the yuan.
The consequences of the Hormuz and Bab el-Mandab straits being closed indefinitely are equally catastrophic for all other G7 nations and their currencies.
Yet markets slumber on.
This is now changing, with the following begging for investors’ attention:
· US oil reserves are running out. The oil price will undoubtedly rise strongly from here, with particular consequences for the US’s largest creditor — Japan.
· Bond yields are driving the dollar, loonie, yen, pound, and euro into existential debt traps. That chart of the US 10-year T-note above shows the potential for its yield to exceed 10%, even 20% bankrupting US Government finances as well as those of the other G7 currencies forced to follow.
· There can be no doubt that the most extreme equity bubble in history will implode, wiping out wealth on a frightening scale.
· Significantly higher oil prices and bond yields will guarantee a global private sector slump, severely reducing revenues for governments and increasing welfare costs. Additionally, all G7 governments will be politically required to support slumping economies and markets, all of which will be at the expense of their currencies.
The greatest profit opportunities come from a mixture of radical mispricing and a reluctance of the investment herd to accept the facts staring it in the face. This is such a moment. The way to profit is to get out of financial markets and sell out collapsing currencies for gold and silver which are money without these counterparty risks.
Merely projecting the accelerating decline of the dollar in our headline chart to $1 = 0.05 of a grain of gold (currently at 0.118 grains) implies gold priced in dollars at over $9,000 by December. This is an extrapolation, not a forecast. But it clearly indicates the potential of the forces at work, currently complacently ignored but driving the future value of credit into the ground.
3. CHRIS POWELL AND HIS GATA DISPATCHES
4. ANDREW MAGUIRE//KINESIS LIVE FROM THE VAULT/285 AND LAST WEEK 283
285:
5. COMMODITY REPORT: BAMBOO
NEW INDUSTRY FROM CHINA:
ROBERT H..
bamboo will become a new industry replacing plastics
It will not be long before China turns this into an advantage
Within years Asia, South America and Africa will become a new exporters of this material.
Once you understand that this material can be used by existing Injection molding factories.
Years ago when I owned Greenfield plastic we played and experimented with various materials but the customers did not want change nor be receptive .
Times have changed and this will be a material we will see in many products in years ahead. This will be a significant threat to existing plastic manufacturers.
COMMODITY REPORT: GOLD
This ought to be fun; They are asking for their 28.4 tonnes not already repatriated by previous rulers.
Post-Maduro Venezuela Wants Its $4BN In Gold Back From England
Saturday, Aug 15, 2026 – 09:55 AM
Venezuela wants its gold back. And now with Maduro having been removed and Caracas being essentially a puppet of Washington influence and interests, it has a much better chance at this than ever before.
Venezuela’s government and opposition are teaming up to wrest back $4 billion in gold bullion currently locked in the Bank of England’s vaults, according to a Friday report by the Financial Times.
A freshly issued joint statement confirmed they are actively working “to recover Venezuela’s international reserve assets held in the Bank of England.”
If successfully repatriated, the funds are slated in part for post-earthquake reconstruction efforts and to soften the blow of years of US sanctions, which still haven’t actually been fully lifted.
The funds have been the subject of a lengthy court battle, after since 2018 the United Kingdom has blocked access by denying recognition to Venezuela’s revolutionary socialist government.
Despite Maduro having been ousted by a US military operation last January during a shock overnight military raid on the capital, the Bank of England is demanding absolute legal clarity on who actually holds the reins of power in Venezuela before agreeing to open up the vaults.
An unnamed opposition figure revealed to the FT that both factions are hashing out a “transparency mechanism” designed to ensure the billion-dollar windfall isn’t quietly siphoned off.
President Delcy Rodriguez, who was Maduro’s former VP, has made personal request to King Charles for the gold:
The bullion has been the subject of a long-running legal battle in British courts, and it has not been released despite Maduro’s capture by the U.S. in January and a request by acting President Delcy Rodriguez to King Charles.
The South American nation was hit by devastating twin earthquakes at the end of June that killed more than 6,000 people.
Rodriguez said the government and lawmakers had agreed to focus on projects aimed at rebuilding households, health capacities, electricity availability and clearing rubble, and to this end, “concentrate efforts to promote the recovery of Venezuela’s international assets in the Bank of England.”
Venezuela had long charged England with “theft” as part of a regime change agenda aimed at the former government, which Washington had finally effected early this year.
For the first time there is no longer a clean “we don’t know who the legitimate government is” excuse… The value of the gold roughly doubled while it was frozen.
Under Rodriguez, the socialist system does remain in place, however Caracas has shown itself to now side with the US and West on a variety of foreign policy issues – from shifting its outlook on Israel, as well as distancing itself from Russia, China and Iran.
END
GOLD
Goldman Asks: Where Will Central Banks Store Their Gold?
by VBL
Sunday, Aug 16, 2026 – 8:42
Bullion Bank: Where Will Central Banks Store Their Gold?
Authored by GoldFix
At a time when Hong Kong is ramping up its infrastructure to handle Gold reserves for central banks globally, Goldman Sachs just put out a report discussing both the recently ramped up buying of the metal by CBs and the dilemma over where to store it geographically. Perhaps GS is preparing for the inevitable rise of HK in global gold reserves held.
The picture the bank paints is one in which central banks are reconsidering both the amount of gold they own (they want more) and where they keep it. London and New York remain central because of their liquidity and financial infrastructure, but reserve managers are increasingly hesitant to rely on a single foreign custodian. At the same time, official-sector purchases are accelerating again, reinforcing the bank’s view that reserve diversification is the central structural force driving gold prices.
The report, titled Precious Comment: Gold and Central Banks: Storage Dilemma; Buying Trend Picks Up covers those two main topics in short and long order amongst other areas of interest.
- Where Central Banks store their gold is increasingly a concernThe World Gold Council’s survey indicates that the Bank of England remains the preferred custody location among reserve managers (57% of respondents), but central banks are increasingly diversifying where they store their gold.
- Banks are buying more again.Central Banks added 57 tonnes of Gold in the OTC markets operating in London and Switzerland with China buying the lion’s share.
ETF Buying Returns
The other significant observation they make is that Gold’s rally since the mid-July bottom reflects a recovery in investor purchases definitely related to Fed hike fears fading.
The rest of the report is in Q & A form.
Continues here
END
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS MONDAY MORNING.7:30 AM
SHANGHAI CLOSED UP 55.48 PTS OR 1.41%
HANG SENG CLOSED UP 336.38 PTS OR 1.34%
Nikkei CLOSED UP 480.20 PTS OR 0.70%
//Australia’s all ordinaries CLOSED DOWN 0.34%
//Chinese yuan (ONSHORE) CLOSED UP TO 6.7383
/ OFFSHORE CLOSED UP AT 6.7831 Oil UP TO 83.03 dollars per barrel for WTI and BRENT UP TO 89.42 Stocks in Europe OPENED ALL MIXED
ONSHORE USA/ YUAN// WITH YUAN TRADING UP (6.7383 OFFSHORE YUAN TRADING UP TO 6.7383 ONSHORE YUAN TRADING AT LEVEL // OFF SHORE AND UP ON THE DOLLAR)// / AND THUS STRONGER/OFF SHORE YUAN TRADING UP AGAINST US DOLLAR/ AND THUS STRONGER
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
ONSHORE YUAN: CLOSED UP AT 6.7383
OFFSHORE YUAN: UP TO 6.7383
1.HANG SANG CLOSED UP 336.38 PTS OR 1.34%
2. Nikkei closed UP 480.20 PTS OR 0.70%
WEST TEXAS INTERMEDIATE OIL UP TO 83.03
BRENT; 89.42
3. Europe stocks SO FAR: ALL MIXED
USA dollar INDEX DOWN 24 BASIS PTS TO 99.32// EURO RISES TO 1.1595 UP 27 BASIS PTS
3b Japan 10 YR bond yield:RISES TO. +2.924 UP 4 FULL BASIS PTS/ VERY TROUBLESOME//Japan buying 100% of bond issuance)/Japanese YEN vs USA CROSS NOW AT 159.18… 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: 4.080 UP 7 FULL BASIS PTS
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen UP CHINESE ONSHORE YUAN: UP (6.7383) AND OFFSHORE: UP AT 6.7383
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 UP TO +3.1960/ Italian 10 Yr bond yield UP AT 3.983/ SPAIN 10 YR BOND YIELD UP TO 3.629%
3i Greek 10 year bond yield UP TO 3.848%
3j Gold at $4398.50/Silver at: 65.64 1 am est) SILVER NEXT RESISTANCE LEVEL AT $100.00
3k USA vs Russian rouble;// Russian rouble DOWN 1 AND 21/ 100 roubles/85.46
3m oil (WTI) into the 83 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 159.11 // 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 2.924% UP 4 BASIS PTS STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE NOW UNWINDING//YEN BOND TRADING OVERSEAS TO BE REPATRIATED.//JAPAN 30 YR: 4.080 UP 7 PTS..: USA/SF this 0.8100 as the Swiss Franc . Euro vs SF: 0.9392
USA 10 YR BOND YIELD: 4.679 DOWN 2 BASIS PTS…DANGEROUSLY CLOSE TO 5.00%
USA 30 YR BOND YIELD: 5.251 DOWN 2 BASIS PTS/
USA 2 YR BOND YIELD: 4.150 DOWN 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 47.90 UP 2 BASIS PTS/LIRA GETTING KILLED//IDIOTS FOR SELLING GOLD AND USA DOLLAR RESERVES.
10 YR UK BOND YIELD: 5.0225 DOWN 2 PTS
30 YR UK BOND YIELD: 5.7756 DOWN 2 BASIS PTS
10 YR CANADA BOND YIELD: 3.6778 UP 2 BASIS PTS
5 YR CANADA BOND YIELD: 3.275 DOWN 1 BASIS PTS.
1a New York Opening report
Futures Rise On Fresh Push Higher In Tech
Monday, Aug 17, 2026 – 08:39 AM
Futures are higher again, just a few basis points away from a new all time high, led by Tech as the week starts with Semis / Memory / AI themes bid globally, as small-caps are fractionally in the red. As of 8:00am ET, S&P futures are 0.1% higher, while Nasdaq futures climb 0.5% after strong revenue growth at Anthropic helped boost optimism around artificial intelligence and bolstered the view that massive spending on artificial intelligence will be sustained. Semis, Memory, and Mag7 are all higher with Software down. Cyclicals are mixed with Indu / Mats leading Fins / Discretionary, but the cohort is lead Defensives, which are dragged by HC and Staples. It is a light macro week so the positive Tech inertia may continue into NVDA earnings next week. Bond yields are flat to down 2bp as the yield curve bull steepens; higher yields remain a risk with Fed Minutes this week and Jackson Hole next week. USD continues to its decline touching a three-month low as rate hike odds faded, while commodities are bid up with strength across the 3 complexes. Crude prices appear to be holding in a range on increased cover flows in the MidEast and weaker Chinese demand. In metals, copper, silver, and palladium are the standouts. US economic data calendar includes August Empire manufacturing (8:30am), NAHB housing market index (10am) and June TIC flows (4pm). No Fed speakers scheduled for the session.
In premarket trading, Mag 7 stocks are mostly higher (Amazon +1.2%, Alphabet +0.5%, Nvidia +0.6%, Apple +0.3%, Tesla +0.1%, Meta Platforms -0.2%, Microsoft -0.7%)
- AI-linked stocks are rising after Anthropic PBC told prospective investors that its preliminary second quarter revenue was $11.5 billion, an at least 14-fold increase versus the same period a year ago. Marvell Technology (MRVL) +2%, Applied Optoelectronics (AAOI) +2%, Sandisk (SNDK) +4%
- Diana Shipping (DSX) is up 9% after the company pulled its offer for all the outstanding shares in Genco Shipping & Trading it doesn’t already own. The company said that Genco’s board had unrealistic price expectations.
- EyePoint (EYPT) said its experimental treatment for an eye disease failed to meet its primary goal in a late-stage trial. After being halted shares resumed lower by 66%
- L3Harris Technologies (LHX) slips 3% after the defense contractor replaced Chief Executive Officer Christopher Kubasik over conduct that “was not consistent with the values of the company.”
- Macy’s (M) is up 2% after Berkshire Hathaway disclosed a stake in the company in a filing.
- Target Hospitality (TH) gains 3% after Morgan Stanley started coverage on the provider of modular housing with an overweight rating, saying the company is poised to benefit from an AI buildout that is increasingly rural.
AI-linked stocks are reasserting their leadership after a volatile July that saw investors rotate into economically sensitive sectors. Fresh evidence of surging demand for the technology came from Claude chatbot maker Anthropic whose Q2 revenue jumped at least 14-fold from a year earlier, Bloomberg News reported late Friday, largely on the back of the new faded tokenmaxxing craze. The Claude chatbot maker posted preliminary revenue of more than $11.5 billion, plus positive adjusted operating income. In other AI news, Alibaba’s open-weight models have accumulated more than 3 billion global downloads in the past six months, eclipsing Meta, Alphabet and domestic peers to become the world’s No. 1 AI model.
AI infrastructure stocks, rather than adopters, have so far driven market performance because of limited visibility about which companies will be able to turn investments into tangible gains in productivity and earnings, according to Goldman strategists. On the subject of earnings, Big Tech is powering profits for corporate America, with S&P 500 Index EPS rising 31% in the second quarter from a year earlier, the strongest gain outside of recoveries from major recessions in Bloomberg Intelligence data going back to 1992.
“We continue to see strong risk appetite among institutional investors, particularly in areas where earnings are strongest, such as US equities and technology,” said Marija Veitmane, head of equity research at State Street Global Markets.
More broadly, reasons to be wary about stocks are quickly disappearing and a Goldilocks scenario looks increasingly likely — which is why it’s a perfect time to hedge against a market priced for perfection, notes today’s Taking Stock. Equity dispersion continues to drop, closing last week at the lowest level since early April, while financial conditions continue to track the most accommodative levels in 30 years.
Behind the bullish metrics lies the potential for instability, with the market having recently seen a sharp reversal from a broad bid for index volatility and skew to a FOMO-fueled demand for upside calls.
In other assets, spot Bitcoin ETFs recorded their largest outflows since the end of June, with a net $389.7 million drained in the week of Aug. 10. Covert oil flows out of the Persian Gulf are helping keep global prices in check, while copper is heading toward a record high on the LME as supply tensions build.
The health of US consumers will be in focus this week when retailing giants such as Walmart Inc. and Home Depot Inc. report earnings. Recent data showed spending cooled in July after a strong first half, while households are also getting concerned about worsening business conditions and rising inflation.
“Any signs of stress in the outlook, against a backdrop of slower hiring and higher borrowing costs, could challenge the resilient growth narrative,” said Laura Cooper, global investment strategist and head of macro credit at Nuveen.
Minutes of the Federal Reserve’s July monetary policy meeting could also attract interest. Traders have pushed back expectations for the next quarter-point Fed hike to January, though bond investors are also growing worried about heavy government borrowing and persistent fiscal concerns.
“The recent run of softer economic data has reduced the urgency for near-term tightening, so the minutes may carry less weight,” Cooper said. Still, “in a regime of the Fed keeping their cards close to the chest, any signals could be of outsized importance.”
The latest 13F filings show how one-sided AI long positioning was into July’s rout. As markets recover, the next 13F season will be a fascinating conviction test, notes Bloomberg’s Anthony Stephens. Other filings reveal Berkshire Hathaway increased its holdings in Delta Air Lines and Alphabet during the second quarter, mining tycoon Gina Rinehart bought eight million shares of SpaceX and Third Point exited Meta and Nvidia.
It’s a light macro and corporate tape to start the week, but further out traders will eye more clues on the state of the consumer with earnings from Walmart, Home Depot and Target in the coming days. Fed meeting minutes are also on the way this week, along with PMI readings in the US and across Europe.
In Europe, the Stoxx 600 rises 0.1%, with miners and tech outperforming as rising copper prices lifted miners while chip stocks gained after Anthropic reported a strong revenue surge for the second quarter. Here are the biggest movers Monday:
- Chip stocks were among the top gainers in Europe on Monday after Anthropic reported a strong revenue surge for the second quarter, while software stocks slipped across the board
- Argenx jumped as much as 10%, the most in more than a year, after the company announced positive late-stage trial results for its experimental myositis treatment
- Thungela Resources shares jumped as much as 12%, the most since March, after the coal mining company reported interim results showing significant earnings growth from a year earlier
- Accelleron gained as much as 10%, the most in more than five months, after Berenberg said the turbocharger manufacturer’s current growth cycle is stronger and more durable than previously modeled, and upgraded to buy
- Sandoz shares climbed as much as 3.5% to a record high after the Swiss maker of generics and biosimilar drugs announced a collaboration agreement with Shanghai Henlius Biotech. ZKB says the deal underlines the company’s “strong position in the global distribution of biosimilars”
- SIG shares fell as much as 27%, the most since the company’s 2018 IPO, after it said in a statement it had appointed Ann-Kristin Erkens as its new CEO, replacing Mikko Keto
Asian stocks advanced at the start of the week as semiconductor stocks gained for a sixth straight session. The MSCI Asia Pacific Index rose 0.4%, led by Kioxia, Tencent and Alibaba, after dropping as much as 0.2% earlier in the session. The benchmarks in China, Taiwan and Hong Kong climbed, while an Asian semiconductor gauge advanced 1.4% to extend its longest win streak since June 22. With AI-bellwether South Korea shut for a holiday, regional tech stocks showed renewed strength following a robust US earnings season, Anthropic’s second-quarter report, and the unwinding of leveraged bets. The China Star 50 Index rose more than 4% and Hang Seng Tech Index gained the most this month. Japan’s benchmark Topix snapped an eight-day win streak, after data showed economic growth unexpectedly slowed in the three months through June. Thai stocks climbed after its second-quarter GDP rose 1.9% from a year earlier, faster than the 1.8% median estimate in a Bloomberg survey but slower than 2.8% growth in the first quarter. Alibaba gained 1.9% in Hong Kong after disclosing a deal to sell its gaming arm and touting claims of more than 3 billion downloads for its open AI model. Meanwhile, margin balances in China and Korea have returned to 2025 levels and are rising again as sidelined funds re‑enter the market, Marvin Chen of Bloomberg Intelligence wrote in a note.
“Technology stocks strengthened, while the decline in their day-to-day volatility is encouraging investors who had stepped back from the sector to selectively re-enter,” said. Rajeev De Mello, a global macro portfolio manager at Gama Asset Management.
In FX, the selloff in the greenback extends with the Bloomberg Dollar Spot Index down 0.3% after earlier falling to its lowest level since mid-May. USD/JPY fell as much as 0.6% to 158.60, it recovered to trade at 159.37 in the New York afternoon, holding close to the closely watched level of 160. There’s a less than 30% chance that the Fed will raise its policy rate in September, down from about 70% odds at the end of last month, according to overnight-indexed swaps. The Aussie and Swiss franc are outperforming against the greenback, each rising 0.5%.
In rates, treasuries price action is steady over Asia, early London with front end outperforming slightly, steepening curves. WTI futures and stocks trade slightly higher on the day, follows fresh fighting in Lebanon while Washington prepares new economic measures against Iran. US 2-year yields outperform, trading richer by 1bp on the day while rest of the curve is little change vs. Friday closing levels. Steepening of curve sees 2s10s and 5s30s trade wider by 1bp and 1.2bp on the day. US 10-year yields trade unchanged around 4.69% with gilts outperforming by 1.2bp in the sector. IG dollar issuance slate includes a couple of deals. Dealers estimate around $20 billion in new deals this week, with the bulk of issuance expected to be front-loaded. Gilts lead modest gains in European government bonds. Treasury auctions this week include $16 billion 20-year bonds (Wednesday) and $8 billion 30-year TIPS (Thursday).
In commodities, Brent crude futures rise 0.8% to around $89 a barrel. Precious metals climb, with spot silver up over 1%. WTI futures trade up around 0.4%, just off session highs with S&P futures up around 0.15% vs. Friday close.
US economic data calendar includes August Empire manufacturing (8:30am), NAHB housing market index (10am) and June TIC flows (4pm). No Fed speakers scheduled for the session
Market Snapshot
Top Overnight News
- Trump Threatens to Bomb Oman If It Gets in Way of US: Fox
- Fighting between Israel and Iran-backed Hezbollah in Lebanon over the weekend marked the latest setback in efforts to end parallel conflicts in the Middle East: BBG
- Trump orders Pentagon to scale back joint exercises with South Korea: RTRS
- North Korea denounces upcoming US-South Korea drills, vows stronger nuclear deterrence: RTRS
- Top US commander visits aircraft carrier, Gaza talks in Egypt and other Mideast news: AP
- US pulls last aircraft carrier in Asia as Trump focuses on Iran and the Western Hemisphere: AP
- Trump’s Venezuela Fixer Is Promoting ‘America First’ Oil Deals: BBG
- Iran says two French embassy employees barred from returning: RTRS
- China’s economy got off to a sluggish start in the second half of the year, reviving pressure on policymakers: BBG
- Alphabet is looking to raise about A$5 billion ($3.6 billion) in what would be its debut bond offering in Australia: BBG
- Trump crypto firm backs venture offering AI from restricted Chinese companies: RTRS
- Jane Street Lost $15 Billion in Its First Down Month in a Decade: BBG
- US to tell partners they must pick sides in AI race with China: RTRS
- Goldman Sachs said market bets on Federal Reserve interest-rate hikes are still too aggressive: BBG
- Binance gave Moscow client details used to charge Russian over Ukraine donations: RTRS
- Copper Squeeze Builds With Spreads Surging and Price Near Record: BBG
A more detailed look at global markets courtesy of Newsquawk
APAC stocks began the week mixed, albeit with a mostly positive bias, following a quiet weekend of macro newsflow and amid geopolitical uncertainty as the 60-day US-Iran ceasefire is set to expire. Participants also digested a deluge of earnings and the latest data releases, while markets in South Korea are closed in observance of Liberation Day. ASX 200 was subdued as weakness in consumer discretionary, financials and real estate offset the gains in miners, resources and materials, while there is a slew of earnings releases, including ‘big 4’ bank NAB, which posted higher profits but noted cooling home loan demand. Nikkei 225 price action was choppy following disappointing GDP data, which could support the argument for the BoJ to refrain from hiking rates next month, although money markets are still leaning towards the central bank resuming rate increases at the September conclave. Hang Seng and Shanghai Comp were positive amid a slew of earnings and with the advances in Hong Kong led by chipmaker SMIC, while platform companies such as JD.com and Alibaba were also underpinned, with the latter helped by the sale of its gaming arm and news its AI models hit 3bln downloads.
Top Asian News
- China’s NBS said the external environment remains complex but they are going to continue expanding domestic demand, however some firms face operating difficulties. Additionally, NBS said the country has solid conditions to achieve its annual growth targets.
European bourses start the week mixed but in light volumes, given the Summer lull. Not much in terms of drivers to give a clear direction, with weekend geopolitical newsflow light. The 60-day US-Iran MoU deadline expires today, although the expiry does not automatically trigger a resumption of hostilities. Iran’s Foreign Ministry held its weekly press conference, in which they said no talks have begun due to Washington’s violation of the MoU, while stating that talks with Oman continue. Sectors highlight the mixed picture. Basic Resources outperform, given the lift in 3M LME copper prices to new ATHs, while Tech is supported following reports from Bloomberg that Anthropic reported Q2 revenue of over USD 11.5bln (prev. 0.79bln Y/Y). To the downside is Optimised Personal Care, Food Beverages & Tobacco and Retail
Top European News
- JPMorgan (JPM) CEO Dimon reportedly warned UK Chancellor Healey against creating a more hostile tax environment for banks, the FT reported. Dimon said that higher taxes drive jobs away, using the decline in financial roles in New York as an example, the report added.
- Fitch affirmed the UK at ‘AA-’; outlook Stable.
FX
- Continued USD weakness throughout the morning saw DXY fall to a 99.30 trough, its lowest since 5th June, while EUR/USD eclipsed the 1.16 mark, not seen since 17th June. The move was gradual and over the course of roughly an hour, the initial downticks without a driver, but later weakness seen around remarks from the Iranian Foreign Ministry which signalled commitment to the diplomatic process; remarks which also modestly weighed on Brent at the time. Analysts expect the USD weakness to continue, ING suggesting the USD can “probably trade to the soft side all week”, while others highlight the soft July data series; for now, DXY -0.2%, the level to watch below is the 200 DMA just below 99.20.
- Action elsewhere is very quiet, G10s mostly move in tandem with USD weakness.
- GBP/USD +0.2%, off the back of the weaker USD with UK catalysts light, Cable trading just above 1.3560, above all significant DMAs. Over the weekend, FT reported that Jamie Dimon warned the Treasury against raising bank taxes, a report which highlights the proximity of the Autumn budget. GBP is primed for a busy week of data, Tuesday sees Jobs data, Wednesday is inflation, Friday is Retail Sales.
- Low yielders are among the best performers as some likely carry USD positions unwind. USD/CHF -0.4%, testing the 50 DMA, USD/SEK -0.4% ahead of the Riksbank this week. High-beta currencies are also doing well on the back of easing Fed expectations which has helped the risk environment; markets now assign a 30% probability of tightening in September, last week was c. 50%.
Fixed Income
- Fixed benchmarks are trading mixed this morning, with USTs (+2+ ticks) around recent lows, whilst Bunds (-8 ticks) move a touch lower. As it stands, USTs hold towards the upper end of a 108-16+ to 108-24+ range. Macro newsflow was lacklustre over the weekend, with focus ultimately on the expiration of the US-Iran MoU, which is set to occur today. Whether there is a fresh round of hostilities remains to be seen, but the risk remains (a full piece and scenario analysis can be found on the board at 07:05 BST).
- As it stands, US yields are lower across the curve, with mild underperformance in the front-end/belly of the curve; a continuation of the action seen last week following the soft US data. ING opines that the 10yr yield could be subject to upward pressure for some time, citing fiscal deterioration and continued focus on the JPY intervention story. The Dutch bank concludes by writing that “we see yields still gravitating more toward the upper end of the recent range”. For reference, the 10yr hit a high of 4.73% on 11 August vs current 4.67%.
- Key US data is lacking for the remainder of the day, and in fact for the remainder of the week. The FOMC Minutes of the July meeting will provide a better understanding of how policymakers are thinking about the policy rate ahead of the September meeting; as it stands, money markets assign a 26% chance of a hike next month.
- Bunds are trading with very mild losses this morning, whilst Gilts are flat. The lack of macro newsflow and pertinent European/UK data has led to tentative action so far, but a slew of UK data is dotted throughout the week, which will be key in determining BoE pricing. As it stands, money markets assign a 24% chance of a hike in Sept, and fully price in a 25bps hike by year-end. On the fiscal side of things, JPMorgan’s Dimon warned the UK Chancellor against raising bank taxes and creating a more hostile tax environment for banks.
Commodities
- Energy futures are mostly subdued within recent ranges with a lack of notable geopolitics from over the weekend, and with the US-Iran MoU effectively lapsing today (full analysis on the Newsquawk board). Briefly, the 60-day US-Iran Islamabad MoU expiry does not automatically trigger a resumption of hostilities. Iran argues there is no ceasefire left to extend because the US already violated the agreement, while there is currently no confirmed deal to extend or replace the MoU. The key market focus is on whether the expiry results in renewed negotiations, additional US sanctions, further military escalation or progress towards reopening the Strait of Hormuz. The morning saw commentary from the Iranian Foreign Ministry which reiterated recent comments but prompted modest losses in the complex as Tehran said talks with Oman are ongoing.
- WTI and Brent trade higher by 0.40-0.80/bbl intraday, with the former within a USD 80.80-82.16/bbl range, and the latter in a USD 88.01-89.40/bbl range. WTI sees slightly deeper losses than Brent, with the Baker Hughes rig count on Friday pointing to expanding US drilling activity. Elsewhere, Dutch TTF bucks the trend with some gains as demand props up prices as Europe refills winter storage. Dutch TTF is firmer by some 1.5% intraday and resides just above EUR 62/MWh after finding resistance around EUR 63/MWh earlier.
- Precious metals are supported by subdued energy prices, in turn weighing on inflation expectations and thus the Dollar. Spot gold topped its 100 DMA once again (USD 4,386/oz) and resides in a current USD 4,367-4,416/oz range after topping Friday’s USD 4,397/oz peak, and vs last week’s USD 4,449/oz high. Spot silver trades towards the upper end of a USD 65.60-66.22/oz range, vs last week’s USD 66.80/oz peak.
- Base metals are similarly propped up, with 3M LME copper hitting record highs of USD 14,387.60/t (vs intraday USD 14,164.33/t). Another supporting factor for base metals could be the downbeat, delayed Chinese Activity data, which printed worse-than-expected across the board and further raises the argument for more stimulus from Beijing.
- At least 2 Asian refiners have asked Saudi Aramco if they can take their oil cargoes from Egypt’s Sidi Kerir port, instead of through Yanbu, Bloomberg reported.
Geopolitics: Middle East
- US President Trump’s son-in-law Jared Kushner met with Hamas leaders in Egypt to discuss a Gaza peace deal, while it was reported by Axios that the meeting was said to be very productive and Hamas leaders reaffirmed their commitment to disarmament and demilitarisation of the Gaza Strip.
- Iranian Foreign Ministry said that the MoU signed with the US does not stipulate a 60-day deadline and that no talks have begun with the US due to violations. The Ministry added that there are ongoing contacts with Qatar, which is playing an influential role in de-escalation efforts. On talks with Oman, they said talks are ongoing but that they are long due to the complexity of the subject, multiple actors involved and countries seeking to undermine the process.
- Iranian Foreign Minister Araghchi said Iran had not decided to resume talks with the US, and that Washington must meet conditions on the strait in order for shipping to resume in the waterway, according to an interview with Shahrara News.
- Iranian Deputy Foreign Minister Gharibabadi said the Strait of Hormuz will be opened and closed only under Iran’s command, while he warned that as long as the US does not accept the reality of defeat and stop indulging in fantasies, Iran will continue to enforce the blockade.
- IRGC senior commander said though Iran’s military actions have remained strictly defensive since the outbreak of hostilities, the armed forces are fully prepared to adopt an offensive posture if necessary, while he cautioned adversaries to expect strategic surprises.
- A high-ranking source said that Bab al-Mandab is closed to Saudi ships in both directions, adding that the “blockade-for-blockade” policy remains in place and will continue, Arabic TV reported.
- Kurdistan Regional Government (KRG) security said two drones attacked the KRG PM’s office and the residence of the head of the Protection Agency, adding that the attacks were launched from Iranian territory and no casualties were reported.
- Iran and Oman seem to be moving closer to reaching an agreement regarding management of the key waterway, despite increasing ship attacks, while a finalisation of the shipping map is said to form part of a wider accord to govern shipping through the strait.
- Only five commodity vessels transited through the Strait of Hormuz on Saturday and none on Sunday, according to shiptracking data from Kpler.
- Qatar’s PM spoke with Jordan’s Foreign Minister and discussed diplomatic efforts aimed at easing regional tensions.
- Israel conducted artillery attacks on the city of Mansouri in southern Lebanon.
- Yemen conducted strikes on Saudi-linked mercenary targets in Mokha and Marib, destroying weapon depots and command facilities, according to Tehran Times citing a statement on Saturday.
- Yemeni government forces said Houthi militias launched a new attack with two missiles in Bab al-Mandab.
Geopolitics: Russia-Ukraine
- EU foreign policy chief Kallas announced plans to introduce the most extensive sanctions package against Russia since the beginning of the war in the coming months.
- Ukraine’s Naftogaz said production has been lost following Russian attacks.
Geopolitics: Other
- US President Trump posted “Based on my very good relationship with Kim Jong Un, of North Korea, I am not happy with the fact that the United States has, long ago, agreed to participate in Joint Military Exercises with South Korea…. Therefore, and based on the fact that it is too late to cancel, I have instructed Secretary of War, Pete Hegseth, to substantially reduce the Joint Military Exercises!”
- South Korean President Lee called for a sit-down with North Korea to pursue peaceful coexistence and wants to transform the Korean peninsula’s unstable armistice into a peace regime.
US Event Calendar
DB’s Jim Reid concludes the overnight wrap
As we enter the second half of August, you’ll have Henry and I for company over the next couple of weeks as Jim makes his regular summer trip to the Alps. Many market participants, including Jim, will have been happy to see some signs of a summer lull emerging last week, as the VIX volatility index fell to a 2026 low on Friday.
However, while global equity indices are at or close to all-time highs, we’re seeing more challenging August crosswinds playing out in bond markets. Expectations for an imminent Fed rate hike have been pulled back, but this has been accompanied by a significant US curve steepening, with the backdrop of higher oil prices, elevated fiscal deficits, and demand for capital from the AI investment boom putting upward pressure on yields. The resulting long-end sell-off has also been a global affair, with 10yr OAT yields ending last week at their highest level since 2009 and the 30yr bund yields reaching a post-2011 high of 3.73% (see the full weekly recap at the end).
Bond markets could face further tests this week, with events including the flash August PMIs (Friday), minutes of the July FOMC meeting (Wednesday), as well as China’s monthly activity data a little later this morning. Meanwhile, this week’s 20yr Treasury auction (Wednesday) may become the most expensive Treasury bond issuance in the past 25 years – the current post-2001 high is a 5.245% yield at a 20yr auction in October 2023 and 20yr yields were 5.26% as of Friday.
The higher yield story is also playing out in Asia this morning, with 10yr JGB yields trading +3.3bps higher to a post-1996 high of 2.93%. That increase comes even as this morning’s GDP data showed Japan’s economy expanded by a slower-than-expected +1.1% annualised in Q2 (vs +2.0% expected, +1.9% previous). The slowing came amid disappointing domestic activity, as business investment fell by -1.2% QoQ, while private consumption saw zero growth (vs. +0.4% exp.). Next in focus will be the national CPI release on Friday, but for now markets are still pricing a 79% chance of a BoJ hike in September.
Following Japan’s GDP data, the Nikkei (+0.30%) is slightly higher but underperforming gains in China’s markets including the CSI 300 (+0.76%) and Shanghai Composite (+0.84% ) as well as the Hang Seng (+1.61%) in Hong Kong. Equity futures are also advancing, with NASDAQ futures (+0.35%) leading those on the S&P 500 (+0.10%) and Europe’s Stoxx 50 (+0.30%) this morning. In other markets, Brent crude (+0.09%) is little changed at $88.60/bbl this morning in the absence of material weekend news around Iran, after a +5.95% rise last week, including +1.67% on Friday as Trump suggested he’d put more pressure on Iran’s economy. Meanwhile, 10yr Treasury yields (-1.2bps) are slightly lower this morning after last week’s sell-off. Fed fund futures are pricing just a 30% chance of a September rate cut as I type, continuing the pullback that started following the softer July jobs report on August 7 and persisted with the fairly sanguine CPI and PPI prints last week.
That Fed pricing will be in focus with the minutes of the July FOMC meeting due on Wednesday. Given Chair Warsh has stepped back from offering policy guidance, the minutes may shed extra light on how the Fed is weighing inflation risks as well as their urgency to act should those risks remain elevated. Chair Warsh described the July discussion as a “good family fight” following the meeting, which saw three dissents in favour of a 25bps hike. While the minutes will be slightly stale after last week’s relatively tame CPI and PPI data, the +0.18% MoM reading our economists now foresee for July core PCE inflation still translates to a +3.2% YoY pace. So while the inter-meeting inflation data has likely reduced the urgency for imminent action by the Fed, they are far from providing sufficient confidence that inflation is trending back to the Fed’s objective.
Investors will also be watching the details of the FOMC discussion in the context of the sharp curve steepening we’ve seen since the July Fed meeting. The 2s10s slope has steepened by +20bps since July 28, its sharpest 13-session rise since the post-Liberation Day Treasury sell off last April.
Turning to this week’s data in more detail, the highlight will come with the flash August PMIs on Friday, including those for the US, Eurozone, Germany, France, UK and Japan. The resilience in economic activity data, including the PMIs, in the face of the Iran energy shock has been an important factor in supporting continued pricing of rate hikes across the major economies. Indeed, in July the composite PMI reached its highest levels since the start of the year in both the US and the Euro area.
In other events, we’ll have the latest Riksbank decision on Thursday, which is expected to keep rates on hold for an eighth consecutive meeting. Elsewhere in Europe, we’ll have the ZEW survey in Germany on Tuesday and the ECB’s July consumer expectations survey due Friday. For the latter, our own dbDataInsights survey suggests an uptick in short-term expectations but more stable medium-term ones. Otherwise, the UK will dominate the European data calendar, with the July inflation print on Wednesday, labour market data on Tuesday and retail sales on Friday. For the CPI print, our UK economists expect headline at 2.92% YoY and core CPI at 2.54%.
Before all that, the focus will be on China July activity data, including retail sales and industrial production, which will be out an hour or so after this hits your inboxes. The release comes as China’s domestic demand growth has been lacklustre in recent months, putting the reflation that has emerged since late 2025 at risk. Underwhelming domestic growth has also contributed to the underperformance in China’s equity market, with the main indices essentially flat YTD, in contrast to a +13.7% rise for the S&P 500, +11.1% for the Stoxx 600 and +36.5% for the Nikkei.
As the earnings season begins to wind down, the spotlight will be on the US retailers Home Depot (Tuesday), Target, TJX (Wednesday) and Walmart (Thursday) to gauge the health of the US consumer. Other names to watch include Analog Devices and Deere in the US and Alibaba and Baidu in China.
Recapping last week now, bond markets were caught between reacting to the ongoing deadlock between Iran and the US and a string of mixed US inflation and activity data. The US economic data story ultimately dominated the narrative at the front-end, with 2yr Treasury yields falling -2.5bps over the week (+2.8bps on Friday) as markets dialled back the likelihood of a September Fed hike. That followed the July CPI and PPI prints, which saw core CPI slow to 2.5% y/y, its slowest pace since early 2021. Friday’s data was also on the softer side, including July retail sales (-0.6% m/m vs +0.1% m/m est) and the preliminary August University of Michigan consumer sentiment (51.0 vs 55.0 est).
By contrast, longer-dated yields moved higher following a sizeable sell-off on Friday, with 10yr yield up +4.7bps to 4.69% (+4.9bps Friday), whilst the 30yr yield (+5.8bps, +4.7bps on Friday) ended the week at 5.26%, less than 2bps from their post-2007 high reached in late July.
The bond sell-off was more pronounced in Europe, where 10yr bund yields rose +7.2bps to 3.20% (+7.3bps on Friday), whilst 10yr OAT yields (+12.9bps, +10.2bps on Friday) reached their highest level since 2009 at 4.04%. And in the UK, 10yr gilts (+11.6bps, +8.4bps on Friday) saw their largest weekly sell-off since May. In addition to being more sensitive to the rise in oil, European bonds weren’t helped by a +10.59% rise in front-month TTF natural gas prices (+1.67% on Friday). Meanwhile, wheat prices moved +5.47% higher (+3.37% higher on Friday) following damage to Russian export infrastructure. These moves reignited inflation concerns, with the 1yr Euro inflation swap rising +19.9bps (+4.8bps on Friday), its largest weekly gain since mid-July.
While bonds struggled, US equities put in a more positive performance. The S&P 500 rose +0.36% despite a -0.17% pullback on Friday from Thursday’s record high, with the small cap Russell 2000 (+1.12%, +0.51% Friday) also reaching a record high. Tech stocks stabilised after their recent rebound, with the Nasdaq (+0.14%, -0.28% Friday) and the Philly Semiconductor Index (+0.49%, -0.31% Friday) seeing small weekly gains, though the Mag-7 lost ground (-0.97%, -0.22% Friday). And amid the uneventful US data and a quieter August period, the VIX volatility index (-0.65pts) ended the week at a 2026 low of 14.25.
European equities were more subdued, with the STOXX 600 (-0.36%, -0.21% Friday), the CAC (-0.90%, -0.16% Friday) and the FTSE 100 (-1.38%, -0.21% Friday) falling back, though the DAX (+0.46%, +0.53% Friday) reached a new record. And in Asia, we saw strong gains for the KOSPI (+11.49%) and Nikkei (+4.74%), which saw their best weeks since May and June respectively.
1b) European opening report
Stocks primed for a firmer open in quiet newsflow, while Dollar weakens on easing Fed tightening bets – Newsquawk US Market Open
Monday, Aug 17, 2026 – 06:24 AM
- The Iranian Foreign Ministry said that the MoU signed with the US does not stipulate a 60-day deadline and that no talks have begun with the US due to violations.
- Furthermore, the Iranian Foreign Ministry said talks with Oman are ongoing.
- US equity futures are mixed, with the NQ outperforming but in light volume.
- DXY softens; CHF benefits as carry USD positions unwind, Antipodeans outperform on easing Fed expectations.
- Fixed income benchmarks in tight ranges.
- Energy benchmarks lack direction as the MoU deadline expires.
- Looking ahead, highlights include Canadian Inflation (Jul).
As of 10:35BST / 05:35EDT
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EUROPEAN TRADE
EQUITIES
- European bourses start the week mixed but in light volumes, given the Summer lull. Not much in terms of drivers to give a clear direction, with weekend geopolitical newsflow light. The 60-day US-Iran MoU deadline expires today, although the expiry does not automatically trigger a resumption of hostilities. Iran’s Foreign Ministry held its weekly press conference, in which they said no talks have begun due to Washington’s violation of the MoU, while stating that talks with Oman continue.
- Sectors highlight the mixed picture. Basic Resources outperform, given the lift in 3M LME copper prices to new ATHs, while Tech is supported following reports from Bloomberg that Anthropic reported Q2 revenue of over USD 11.5bln (prev. 0.79bln Y/Y). To the downside is Optimised Personal Care, Food Beverages & Tobacco and Retail.
- US equity futures are mixed in early Monday trade, with the NQ printing modest gains. In terms of key stories: Alibaba‘s Qwen open-weight AI models surpassed 3bln global downloads over six months, outpacing Meta and Google; Alphabet is looking to sell AUD 5bln in its debut AUD bond offering; PayPal is in talks to sell itself to Stripe and Advent.
- Click for the sessions European pre-market equity newsflow
- Click for the additional news
FX
- Continued USD weakness throughout the morning saw DXY fall to a 99.30 trough, its lowest since 5th June, while EUR/USD eclipsed the 1.16 mark, not seen since 17th June. The move was gradual and over the course of roughly an hour, the initial downticks without a driver, but later weakness seen around remarks from the Iranian Foreign Ministry which signalled commitment to the diplomatic process; remarks which also modestly weighed on Brent at the time. Analysts expect the USD weakness to continue, ING suggesting the USD can “probably trade to the soft side all week”, while others highlight the soft July data series; for now, DXY -0.2%, the level to watch below is the 200 DMA just below 99.20.
- Action elsewhere is very quiet, G10s mostly move in tandem with USD weakness.
- GBP/USD +0.2%, off the back of the weaker USD with UK catalysts light, Cable trading just above 1.3560, above all significant DMAs. Over the weekend, FT reported that Jamie Dimon warned the Treasury against raising bank taxes, a report which highlights the proximity of the Autumn budget. GBP is primed for a busy week of data, Tuesday sees Jobs data, Wednesday is inflation, Friday is Retail Sales.
- Low yielders are among the best performers as some likely carry USD positions unwind. USD/CHF -0.4%, testing the 50 DMA, USD/SEK -0.4% ahead of the Riksbank this week. High-beta currencies are also doing well on the back of easing Fed expectations which has helped the risk environment; markets now assign a 30% probability of tightening in September, last week was c. 50%.
FIXED INCOME
- Fixed benchmarks are trading mixed this morning, with USTs (+2+ ticks) around recent lows, whilst Bunds (-8 ticks) move a touch lower. As it stands, USTs hold towards the upper end of a 108-16+ to 108-24+ range. Macro newsflow was lacklustre over the weekend, with focus ultimately on the expiration of the US-Iran MoU, which is set to occur today. Whether there is a fresh round of hostilities remains to be seen, but the risk remains (a full piece and scenario analysis can be found on the board at 07:05 BST).
- As it stands, US yields are lower across the curve, with mild underperformance in the front-end/belly of the curve; a continuation of the action seen last week following the soft US data. ING opines that the 10yr yield could be subject to upward pressure for some time, citing fiscal deterioration and continued focus on the JPY intervention story. The Dutch bank concludes by writing that “we see yields still gravitating more toward the upper end of the recent range”. For reference, the 10yr hit a high of 4.73% on 11 August vs current 4.67%.
- Key US data is lacking for the remainder of the day, and in fact for the remainder of the week. The FOMC Minutes of the July meeting will provide a better understanding of how policymakers are thinking about the policy rate ahead of the September meeting; as it stands, money markets assign a 26% chance of a hike next month.
- Bunds are trading with very mild losses this morning, whilst Gilts are flat. The lack of macro newsflow and pertinent European/UK data has led to tentative action so far, but a slew of UK data is dotted throughout the week, which will be key in determining BoE pricing. As it stands, money markets assign a 24% chance of a hike in Sept, and fully price in a 25bps hike by year-end. On the fiscal side of things, JPMorgan’s Dimon warned the UK Chancellor against raising bank taxes and creating a more hostile tax environment for banks.
COMMODITIES
- Energy futures are mostly subdued within recent ranges with a lack of notable geopolitics from over the weekend, and with the US-Iran MoU effectively lapsing today (full analysis on the Newsquawk board). Briefly, the 60-day US-Iran Islamabad MoU expiry does not automatically trigger a resumption of hostilities. Iran argues there is no ceasefire left to extend because the US already violated the agreement, while there is currently no confirmed deal to extend or replace the MoU. The key market focus is on whether the expiry results in renewed negotiations, additional US sanctions, further military escalation or progress towards reopening the Strait of Hormuz. The morning saw commentary from the Iranian Foreign Ministry which reiterated recent comments but prompted modest losses in the complex as Tehran said talks with Oman are ongoing.
- WTI and Brent trade higher by 0.40-0.80/bbl intraday, with the former within a USD 80.80-82.16/bbl range, and the latter in a USD 88.01-89.40/bbl range. WTI sees slightly deeper losses than Brent, with the Baker Hughes rig count on Friday pointing to expanding US drilling activity. Elsewhere, Dutch TTF bucks the trend with some gains as demand props up prices as Europe refills winter storage. Dutch TTF is firmer by some 1.5% intraday and resides just above EUR 62/MWh after finding resistance around EUR 63/MWh earlier.
- Precious metals are supported by subdued energy prices, in turn weighing on inflation expectations and thus the Dollar. Spot gold topped its 100 DMA once again (USD 4,386/oz) and resides in a current USD 4,367-4,416/oz range after topping Friday’s USD 4,397/oz peak, and vs last week’s USD 4,449/oz high. Spot silver trades towards the upper end of a USD 65.60-66.22/oz range, vs last week’s USD 66.80/oz peak.
- Base metals are similarly propped up, with 3M LME copper hitting record highs of USD 14,387.60/t (vs intraday USD 14,164.33/t). Another supporting factor for base metals could be the downbeat, delayed Chinese Activity data, which printed worse-than-expected across the board and further raises the argument for more stimulus from Beijing.
- At least 2 Asian refiners have asked Saudi Aramco if they can take their oil cargoes from Egypt’s Sidi Kerir port, instead of through Yanbu, Bloomberg reported.
NOTABLE EUROPEAN HEADLINES
- JPMorgan (JPM) CEO Dimon reportedly warned UK Chancellor Healey against creating a more hostile tax environment for banks, the FT reported. Dimon said that higher taxes drive jobs away, using the decline in financial roles in New York as an example, the report added.
- Fitch affirmed the UK at ‘AA-’; outlook Stable.
NOTABLE EUROPEAN DATA RECAP
- UK Rightmove House Prices MM (Aug) -2.0% (Prev. -1.0%).
- UK Rightmove House Prices YY (Aug) -1.0% (Prev. -0.4%).
NOTABLE US HEADLINES
- Alphabet (GOOG) is looking to sell AUD 5bln in its first AUD-denominated bond, issuing a mandate for 3-year, 5-year, 10-year, and 20-year AUD bonds.
GEOPOLITICS
MIDDLE EAST
- US President Trump’s son-in-law Jared Kushner met with Hamas leaders in Egypt to discuss a Gaza peace deal, while it was reported by Axios that the meeting was said to be very productive and Hamas leaders reaffirmed their commitment to disarmament and demilitarisation of the Gaza Strip.
- Iranian Foreign Ministry said that the MoU signed with the US does not stipulate a 60-day deadline and that no talks have begun with the US due to violations. The Ministry added that there are ongoing contacts with Qatar, which is playing an influential role in de-escalation efforts. On talks with Oman, they said talks are ongoing but that they are long due to the complexity of the subject, multiple actors involved and countries seeking to undermine the process.
- Iranian Foreign Minister Araghchi said Iran had not decided to resume talks with the US, and that Washington must meet conditions on the strait in order for shipping to resume in the waterway, according to an interview with Shahrara News.
- Iranian Deputy Foreign Minister Gharibabadi said the Strait of Hormuz will be opened and closed only under Iran’s command, while he warned that as long as the US does not accept the reality of defeat and stop indulging in fantasies, Iran will continue to enforce the blockade.
- IRGC senior commander said though Iran’s military actions have remained strictly defensive since the outbreak of hostilities, the armed forces are fully prepared to adopt an offensive posture if necessary, while he cautioned adversaries to expect strategic surprises.
- A high-ranking source said that Bab al-Mandab is closed to Saudi ships in both directions, adding that the “blockade-for-blockade” policy remains in place and will continue, Arabic TV reported.
- Kurdistan Regional Government (KRG) security said two drones attacked the KRG PM’s office and the residence of the head of the Protection Agency, adding that the attacks were launched from Iranian territory and no casualties were reported.
- Iran and Oman seem to be moving closer to reaching an agreement regarding management of the key waterway, despite increasing ship attacks, while a finalisation of the shipping map is said to form part of a wider accord to govern shipping through the strait.
- Only five commodity vessels transited through the Strait of Hormuz on Saturday and none on Sunday, according to shiptracking data from Kpler.
- Qatar’s PM spoke with Jordan’s Foreign Minister and discussed diplomatic efforts aimed at easing regional tensions.
- Israel conducted artillery attacks on the city of Mansouri in southern Lebanon.
- Yemen conducted strikes on Saudi-linked mercenary targets in Mokha and Marib, destroying weapon depots and command facilities, according to Tehran Times citing a statement on Saturday.
- Yemeni government forces said Houthi militias launched a new attack with two missiles in Bab al-Mandab.
RUSSIA-UKRAINE
- EU foreign policy chief Kallas announced plans to introduce the most extensive sanctions package against Russia since the beginning of the war in the coming months.
- Ukraine’s Naftogaz said production has been lost following Russian attacks.
OTHER
- US President Trump posted “Based on my very good relationship with Kim Jong Un, of North Korea, I am not happy with the fact that the United States has, long ago, agreed to participate in Joint Military Exercises with South Korea…. Therefore, and based on the fact that it is too late to cancel, I have instructed Secretary of War, Pete Hegseth, to substantially reduce the Joint Military Exercises!”
- South Korean President Lee called for a sit-down with North Korea to pursue peaceful coexistence and wants to transform the Korean peninsula’s unstable armistice into a peace regime.
CRYPTO
- Bitcoin regains the USD 63k handle as data shows that spot BTC ETFs recorded their largest outflows last week since the end of June.
APAC TRADE
- APAC stocks began the week mixed, albeit with a mostly positive bias, following a quiet weekend of macro newsflow and amid geopolitical uncertainty as the 60-day US-Iran ceasefire is set to expire. Participants also digested a deluge of earnings and the latest data releases, while markets in South Korea are closed in observance of Liberation Day.
- ASX 200 was subdued as weakness in consumer discretionary, financials and real estate offset the gains in miners, resources and materials, while there is a slew of earnings releases, including ‘big 4’ bank NAB, which posted higher profits but noted cooling home loan demand.
- Nikkei 225 price action was choppy following disappointing GDP data, which could support the argument for the BoJ to refrain from hiking rates next month, although money markets are still leaning towards the central bank resuming rate increases at the September conclave.
- Hang Seng and Shanghai Comp were positive amid a slew of earnings and with the advances in Hong Kong led by chipmaker SMIC, while platform companies such as JD.com and Alibaba were also underpinned, with the latter helped by the sale of its gaming arm and news its AI models hit 3bln downloads.
NOTABLE ASIA-PAC HEADLINES
- China’s NBS said the external environment remains complex but they are going to continue expanding domestic demand, however some firms face operating difficulties. Additionally, NBS said the country has solid conditions to achieve its annual growth targets.
NOTABLE APAC DATA RECAP
- Chinese Industrial Production (Jul YY) 4.5% vs. Exp. 5.0% (Prev. 5.3%).
- Chinese Retail Sales (Jul YY) 0.6% vs. Exp. 1.5% (Prev. 1.0%).
- Chinese Fixed Asset Investment (YTD) (Jul YY) -6.7% vs. Exp. -6.2% (Prev. -5.7%).
- Chinese Unemployment Rate (Jul) 5.2% vs. Exp. 5.1% (Prev. 5.0%).
- Japanese GDP Growth Rate Prel (Q2 QQ) 0.3% vs. Exp. 0.5% (Prev. 0.5%).
- Japanese GDP Growth Annualised Prel (Q2) 1.1% vs. Exp. 2% (Prev. 1.8%).
- Japanese Industrial Production Final (Jun MM) 1.9% vs. Exp. 1.3% (Prev. 0.1%).
1c) Asian opening report
Europe set to build on gains after a quiet weekend and similar APAC lead – Newsquawk EU Market Open
Monday, Aug 17, 2026 – 01:51 AM
- Iranian Foreign Minister Araghchi said Iran had not decided to resume talks with the US, and that Washington must meet conditions on the strait in order for shipping to resume in the waterway.
- APAC stocks began the week mixed, albeit with a mostly positive bias, following a quiet weekend of macro newsflow and amid geopolitical uncertainty as the 60-day US-Iran ceasefire is set to expire.
- Crude futures were indecisive as participants continue to await a Strait of Hormuz deal and after shipping through the key waterway slowed over the weekend.
- DXY marginally softened in the absence of fresh macro catalysts from the US over the weekend; 10yr UST futures were range-bound.
- European equity futures indicate a marginally higher cash market open with Euro Stoxx 50 futures up 0.3% after the cash market closed with losses of 0.1% on Friday.
- Looking ahead, highlights include Chinese Activity Data [revised release time] (Jul), Canadian Inflation (Jul), and comments from ECB’s Lane.
As of 06:15BST/01:15EDT
LOOKING AHEAD
- Highlights include Chinese Activity Data (Jul), Canadian Inflation (Jul), Comments from ECB’s Lane.
- Click for the Newsquawk Week Ahead.
IRAN CONFLICT
- US President Trump described Iran as “very evil” at a political rally on Friday and told Americans to prepare for continued high fuel prices as a result of the war, which he said was worth the cost to ensure Iran could not have a nuclear weapon.
- US President Trump’s son-in-law Jared Kushner met with Hamas leaders in Egypt to discuss a Gaza peace deal, while it was reported by Axios that the meeting was said to be very productive and Hamas leaders reaffirmed their commitment to disarmament and demilitarisation of the Gaza Strip.
- Iranian Foreign Minister Araghchi said Iran had not decided to resume talks with the US, and that Washington must meet conditions on the strait in order for shipping to resume in the waterway, according to an interview with Shahrara News.
- Iranian Deputy Foreign Minister Gharibabadi said the Strait of Hormuz will be opened and closed only under Iran’s command, while he warned that as long as the US does not accept the reality of defeat and stop indulging in fantasies, Iran will continue to enforce the blockade.
- IRGC senior commander said though Iran’s military actions have remained strictly defensive since the outbreak of hostilities, the armed forces are fully prepared to adopt an offensive posture if necessary, while he cautioned adversaries to expect strategic surprises.
- Iran and Oman seem to be moving closer to reaching an agreement regarding management of the Strait of Hormuz, despite increasing ship attacks, while a finalisation of the shipping map is said to form part of a wider accord to govern shipping through the strait.
- Only five commodity vessels transited through the Strait of Hormuz on Saturday and none on Sunday, according to shiptracking data from Kpler.
- Qatar’s PM spoke with Jordan’s Foreign Minister and discussed diplomatic efforts aimed at easing regional tensions.
- Israel conducted artillery attacks on the city of Mansouri in southern Lebanon.
- Yemen conducted strikes on Saudi-linked mercenary targets in Mokha and Marib, destroying weapon depots and command facilities, according to Tehran Times citing a statement on Saturday.
US TRADE
EQUITIES
- US stocks were modestly lower on Friday in quiet trade, with the Nasdaq underperforming, while the Russell bucked the trend to close higher and the equal-weight S&P 500 was flat. Sectors were mixed, with Energy outperforming alongside firmer crude prices, while Technology and Health Care lagged. US data was soft but had little lasting market impact, as Retail Sales disappointed, while UoM Consumer Sentiment fell notably alongside declines in both Current Conditions and Expectations. However, 1-year inflation expectations ticked up to 4.3% from 4.2%, while the 5-year remained at 3.3%. Treasury yields rose in a bear steepening despite the softer data, with no obvious catalyst in quiet trade. Firmer oil and higher near-term UoM inflation expectations may have provided some pressure, while Fed pricing was little changed with a September hold still around 67%.
- SPX -0.18% at 7,785, NDX -0.13% at 30,046, DJI -0.20% at 53,733, RUT +0.56% at 3,070.
- Click here for a detailed summary.
TARIFFS/TRADE
- US President Trump’s administration doesn’t want Apple (AAPL) to purchase memory chips from Chinese firms CXMT and YMTC, according to an article in The Wall Street Journal on Friday citing an interview with Commerce Secretary Lutnick.
NOTABLE HEADLINES
- US President Trump said he had “a great weekend” and held “many meetings”, while he separately talked up the US in a post on Truth Social and said he is heading back into the Oval Office to continue working on more triumphs and successes for the country.
- US President Trump called for the Senate to vote on the NO MORE CHANGING THE CLOCKS ACT as soon as possible.
APAC TRADE
EQUITIES
- APAC stocks began the week mixed, albeit with a mostly positive bias, following a quiet weekend of macro newsflow and amid geopolitical uncertainty as the 60-day US-Iran ceasefire is set to expire. Participants also digested a deluge of earnings and the latest data releases, while markets in South Korea are closed in observance of Liberation Day.
- ASX 200 was subdued as weakness in consumer discretionary, financials and real estate offset the gains in miners, resources and materials, while there is a slew of earnings releases, including ‘big 4’ bank NAB, which posted higher profits but noted cooling home loan demand.
- Nikkei 225 price action was choppy following disappointing GDP data, which could support the argument for the BoJ to refrain from hiking rates next month, although money markets are still leaning towards the central bank resuming rate increases at the September conclave.
- Hang Seng and Shanghai Comp were positive amid a slew of earnings and with the advances in Hong Kong led by chipmaker SMIC, while platform companies such as JD.com and Alibaba were also underpinned, with the latter helped by the sale of its gaming arm and news its AI models hit 3bln downloads. The mainland was also positive, but with further upside contained as activity data for China is due for release at a revised time of 3pm local time (08:00 BST).
- US equity futures were mixed after the recent soft data and amid ongoing geopolitical uncertainty.
- European equity futures indicate a marginally higher cash market open with Euro Stoxx 50 futures up 0.2% after the cash market closed with losses of 0.1% on Friday.
FX
- DXY marginally softened in the absence of fresh macro catalysts from the US over the weekend and despite the initial gains in oil prices, while participants await key looming deadlines, including the expiry of the US-Iran MoU on Monday, and with US tariffs of 50% on some Canadian goods set to take effect on Wednesday. Furthermore, Fed rhetoric has been quiet, although participants will get to digest the FOMC Minutes mid-week ahead of the Jackson Hole Symposium scheduled on August 27th-29th.
- EUR/USD lingered around a 2-month high after benefitting from last week’s soft US data but remains contained beneath the 1.1600 handle amid light newsflow from the bloc.
- GBP/USD held on to its recent spoils after returning to the 1.3500 territory and with little reaction seen to the negative Rightmove House Price data, while several pertinent data releases are scheduled for the UK this week, including jobs and earnings data on Tuesday, inflation figures on Wednesday, and Retail Sales on Friday.
- USD/JPY slightly trickled lower following last Friday’s fluctuations and retested the 159.00 level to the downside amid a softer buck and despite the disappointing GDP data from Japan.
- Antipodeans remained afloat after recent advances and are seemingly unconcerned by the looming Chinese economic data.
- PBoC set USD/CNY mid-point at 6.7873 vs exp. 6.7382 (prev. 6.7878).
FIXED INCOME
- 10yr UST futures were range-bound following last Friday’s fluctuations, while there was a lack of fresh macro drivers for the US over the weekend, and participants look ahead to FOMC Minutes on Wednesday.
- Bund futures were contained near last week’s trough after sliding from around the 125.00 level.
- 10yr JGB futures tracked recent declines in global peers and tested 126.00 to the downside as money markets continued to price a greater likelihood of a hike than a hold for the September meeting, despite the weaker-than-expected GDP data.
COMMODITIES
- Crude futures were indecisive as participants continue to await a Strait of Hormuz deal and after shipping through the key waterway slowed over the weekend, with only five commodity vessels transiting through the strait on Saturday and none on Sunday, while the overall geopolitical situation remains uncertain with the US-Iran MoU set to expire today.
- India is preparing a large LPG output increase amid the ongoing Hormuz uncertainty.
- Spot gold edged higher and retested the USD 4,400/oz level before paring some of the gains.
- Copper futures benefitted alongside the positive risk appetite in the red metal’s largest buyer, despite the incoming Chinese activity data, with the release time revised to 15:00 local time.
CRYPTO
- Bitcoin gradually edged higher overnight and climbed back above the USD 63,000 level.
NOTABLE ASIA-PAC HEADLINES
- China revised the release time for July economic data to 15:00 local time (08:00BST/03:00EDT) on Monday, while the State Council Information Office will hold a briefing on the data at the same time.
- China is speeding up establishing rules for recycling and reusing wind and solar equipment, while it aims to set up a closed-loop system for waste from the industry before 2030.
- Hong Kong air passenger traffic rose 11.7% Y/Y, according to Financial Secretary Chan.
- Alibaba’s (9988 HK) open-weight models reached more than 3bln global downloads during the last six months, making Qwen the world’s number one AI model.
- Around 5,000 people have been evacuated after a magnitude-7.7 earthquake hit eastern Indonesia, which killed at least 51 people.
- Indian PM Modi said they are determined to make India a ‘developed’ nation by 2047, and that India will have up to 8 more chip plants in the next 7 or 8 years.
DATA RECAP
- Japanese GDP Growth Rate Prel (Q2 QQ) 0.3% vs. Exp. 0.5% (Prev. 0.5%)
- Japanese GDP Growth Annualised Prel (Q2) 1.1% vs. Exp. 2% (Prev. 1.8%)
GEOPOLITICS
MIDDLE EAST
- US President Trump posted, “Very happy to see that Saudi Arabia, Turkey, and Pakistan have recently, and finally, signed the Mecca Joint Defence Agreement. It shows how the Middle East is coming together, and how Countries will finally be able to defend themselves in a more meaningful way.”
RUSSIA-UKRAINE
- Ukrainian President Zelensky said Ukraine attacked a production unit of the Roscosmos space agency in Samara, as it continued its strikes targeting military and related infrastructure deep inside Russia. Zelensky also announced that Ukraine’s military struck an oil facility in Ust-Luga.
- Ukrainian drones struck the Moscow region overnight on Sunday in what the provincial governor called one of the largest attacks in the region.
- NATO F-18 jet shot down a suspected Russian drone after it breached Romanian airspace.
- EU foreign policy chief Kallas announced plans to introduce the most extensive sanctions package against Russia since the beginning of the war in the coming months.
- Russia’s Foreign Ministry said it requests an explanation from the US and Turkey regarding alleged plans for arms supplies to Ukraine, while it stated that such action would undermine Moscow’s relations with Washington and Ankara.
OTHER
- US President Trump posted “Based on my very good relationship with Kim Jong Un, of North Korea, I am not happy with the fact that the United States has, long ago, agreed to participate in Joint Military Exercises with South Korea. These exercises are not only costly, with much of these costs paid for by the United States of America (as usual!), but send a signal that is totally inappropriate and hostile, to a Country that, as long as Donald J. Trump has been President, has been unthreatening and respectful. Therefore, and based on the fact that it is too late to cancel, I have instructed Secretary of War, Pete Hegseth, to substantially reduce the Joint Military Exercises! While somewhat unrelated (?), I recently asked the President of South Korea if they would like to join us in the Denuclearization of the Islamic Republic of Iran, and they said, “No thanks!” Thank you for your attention to this matter.”
- South Korean President Lee called for a sit-down with North Korea to pursue peaceful coexistence and wants to transform the Korean peninsula’s unstable armistice into a peace regime.
- UK Ministry of Defence is stepping up scrutiny of its supply chain after discovering some naval drones transmitted signals to China.
GLOBAL NEWS
- US mulls new sanctions against a Brazilian Supreme Court judge as a diplomatic crisis threatens to drag relations between the two countries to their lowest point in decades, according to FT.
EU/UK
NOTABLE HEADLINES
- UK Housing Secretary Rayner is to announce changes to the national planning policy framework to make it impossible for developers to shut down pubs unless there is “no reasonable prospect” of keeping them going, according to FT.
- JPMorgan Chase CEO Dimon warned UK Chancellor Healey against raising bank taxes and creating a more hostile tax environment for banks, as the financial services sector prepares to embark on a major lobbying campaign ahead of the October Budget, according to FT.
- Belgium’s largest wildfire on record was heading towards the German border.
- Fitch affirmed the UK at ‘AA-’; outlook Stable.
DATA RECAP
- UK Rightmove House Prices MM (Aug) -2.0% (Prev. -1.0%)
- UK Rightmove House Prices YY (Aug) -1.0% (Prev. -0.4%)
2.NORTH AND SOUTH KOREA//JAPAN
NORTH KOREA
North Korea Rages At Upcoming US Drills: “Rehearsal For Aggressive War”
Saturday, Aug 15, 2026 – 07:35 AM
North Korea has issued a severe warning over the upcoming joint military exercise between the United States and South Korea, characterizing it as a rehearsal for an aggressive war and that it is is ready to respond.
North Korea’s Foreign Ministry described Friday that these planned drills look different, and will be more dangerous, compared to all prior ones of the past-half decade, in that they appear offensive in nature as the exercise will focus on modern warfare tactics.
The 10-day Ulchi Freedom Shield exercise will kick off this coming Monday, August 17, and will see tens of thousands of military personnel from the United States, South Korea participate – but also other allied countries such as Australia.
“The US announced that the forthcoming exercises are quite different from the ones of the past five years and intended to master the ability of fighting a war on the basis of the new aspects of modern warfare,” the North Korea condemnation reads.
“By doing so, it did not conceal its aim to complete preparations for the substantial military confrontation with the DPRK. This is tantamount to an admission that the exercises, which the US and the ROK describe as ‘annual’ and ‘defensive’ ones, are a rehearsal for an aggressive war,” the ministry added in a statement published by Korean Central News Agency (KCNA).
US military magazine Stripes has admitted that growing North Korean defense cooperation with Russia has given new impetus and shape to the joint war games:
North Korea’s growing military partnership with Russia and the battlefield experience its troops have gained in the war with Ukraine is shaping how U.S. and South Korean forces prepare for a potential conflict on the peninsula, a senior United Nations Command officer said Thursday.
Australian army Lt. Gen. Scott Winter, deputy commander of U.N. Command, said the allies are accounting for Pyongyang’s increased use of technology, its ballistic-missile development and lessons learned by North Korean troops supporting Russia as they prepare for Monday’s start of Ulchi Freedom Shield.
The command is “very conscious” that North Korea has used its relationship with Moscow as an opportunity to test ballistic missile systems and gain contemporary battlefield experience, Winter told reporters during a briefing on the exercise at the Press Center in Seoul.
Meanwhile North Korea has further stated: “It is our consistent principle of ensuring security to respond to a new level of a threat with a new level of a deterrent,” and so the country “will more clearly express its stance on the enemies to cope with any threats and challenges through the responsible and decisive exercise of the right to legitimate self-defense.”
In Ukraine, President Zelensky has this month been highlighting a deepening role by Pyongyang in helping Russia militarily, including alleged use of North Korean ballistic missiles on Ukrainian cities.
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.
END
JAPAN/USA
3. CHINA
US Accuses Chinese Exporters Of Masterminding “Great Transshipment Scam”
Friday, Aug 14, 2026 – 06:00 PM
Back in mid-2025, when Trump’s renewed trade war with China was all the rage, we said that much of this was hot air and theatrics for the simple reason that many Chinese exporters would find easy ways to evade US tariffs thanks to “transshipments“, or using intermediary countries as fake points of origin …
… and none more so than Vietnam, which quickly emerged as the central nexus in US tariff evasion.
It appears the Trump admin finally got the memo, and on Thursday it released a sharply worded report accusing Chinese exporters of orchestrating a system of “illegal transshipment” through more than 40 third countries to dodge US tariffs, branding the practice “The Great Transshipment Scam”.
The 25-page document confirms what we reported for much of 2025, and claims Chinese firms systematically diverted goods through lower-tariff jurisdictions since the US kicked off its trade war with China in 2018.
It alleges that exporters use limited assembly, relabelling, repackaging, re-invoicing and false country-of-origin declarations to disguise Chinese-origin products and secure more favourable tariff treatment on entry into the US.
The White House report said that Chinese exporters have “increasingly routed goods through third countries … where limited assembly, finishing, repackaging, relabelling or documentation changes could create the appearance of a different national origin.”
“For years the great transshipment scam has led Communist China to launder its exports through more than 40 countries, rob our treasury of tens of billions of dollars, and steal the paychecks of American workers,” said Peter Navarro, the White House senior counsellor for Trade and Manufacturing.
“This report rips the mask off.”
The Chinese embassy in Washington said that Beijing opposed the “overstretching of the concept of national security” and the use of state power to suppress Chinese enterprises”. It also warned that any “unilateral actions or agreements concerning transshipped goods must not target or harm the interests of third parties.”
“We firmly oppose any party seeking to strike a deal at China’s expense or engaging in baseless economic coercion that severely infringes upon the legitimate rights and interests of relevant enterprises and gravely disrupts the stability of global industrial and supply chains,” embassy spokesperson Liu Chang said adding that “should such situations arise, China will resolutely take necessary measures to safeguard its legitimate rights and interests.”
The 40 countries named as participants in the China-linked “Great Transshipment Scam” include major US trading partners such as Canada and Mexico, as well as allies such as Japan, South Korea, the European Union and Israel. Most Southeast Asian countries are also on the list, among them Indonesia, Malaysia, Thailand, Vietnam, Singapore, Cambodia, Laos, Myanmar and the Philippines. South Asian countries such as India, Bangladesh and Sri Lanka are also named.
The findings come amid tit-for-tat economic actions between Washington and Beijing and one month before Chinese President Xi Jinping is expected to visit Washington for a leader-level summit with US President Donald Trump.
The report cited a range of third-party estimates for the annual value of goods involved in illegal or suspect transshipment, spanning roughly US$40 billion to US$303 billion.
Assuming $75 billion in annual illegal transshipment, the administration estimates that roughly 450,000 American jobs have been displaced and up to $150 billion of GDP has been lost. These figures are described as model-based illustrations rather than observed counts.
Applying illustrative tariffs of between 25 to 45%, the report estimates annual US revenue losses in the “tens of billions of dollars”.
The report says that the administration will increase the use of artificial intelligence to monitor trade and spot transshipped goods, an initiative it calls the “Detective Border”.
The publication coincides with Washington’s efforts to close what it sees as a major loophole in its tariff regime.
Mexico has drawn particular scrutiny because of its free trade pact with the US and rising Chinese investment and flows of Chinese-made components into Mexican factories. Those concerns are now central to the ongoing joint review of the United States-Mexico-Canada Agreement (USMCA). The US has declined an automatic 16-year extension of the pact, citing issues including concerns over Chinese transshipment.
Navarro termed Mexico as “one of the biggest transshippers,” where China uses the USMCA “tariff rates of nothing” and “sneak stuff in”.
“Communist China has engaged in an extremely sophisticated set of actions that are designed essentially to transship and thereby evade the tariffs,” Navarro added.
As SCMP notes, an analysis by the Coalition for a Prosperous America, a lobby group for the US manufacturing industry, estimated that about US$14 billion in Chinese trade was diverted and transshipped to the US after the 2025 tariff escalation, with Asean countries accounting for the majority.
Washington has already moved to tighten the rules. A 2025 framework agreement with Vietnam imposed a 40 per cent tariff on goods deemed to have been transshipped, twice the rate applied to ordinary Vietnamese-origin shipments. Similar anti-transshipment provisions have been included in other bilateral arrangements and executive actions targeting indirect shipments.
Asian manufacturing hubs such as Vietnam and Thailand are also under growing scrutiny. Trade data earlier this year showed a roughly $112 billion gap between China’s reported exports to the US and arrivals recorded by US Customs and Border Protection, a discrepancy widely seen as a sign of large-scale tariff circumvention.
Although the report concludes that it “is too early to determine the net effect of the Administration’s tariff and anti-transshipment policies”, it serves as a reminder that the tariff heat remains on.
In July last year, an executive order extended a 40% penalty tariff to goods that US Customs and Border Protection determines were transshipped to evade duties. The penalty is imposed on top of any country-of-origin tariff. The administration has also begun publishing lists of countries and facilities linked to suspected tariff evasion schemes.
The White House report came a day after Senator Bernie Moreno, a Republican from Ohio, urged Homeland Security Secretary Markwayne Mullin to intensify the crackdown. In an August 12 letter, Moreno called the practice “a deliberate scheme by foreign manufacturers, overwhelmingly based in China, to falsify where their goods are made, launder them through a third country, slap on a new label and dump them into the American market.”
He said that Chinese auto parts routed through Thailand had affected manufacturing in Ohio.
END
China’s economic growth slows!
(zerohedge)
China Economic Growth ‘Downside Risk’ Looms; Goldman Warns After July Macro-Miss-Fest
Monday, Aug 17, 2026 – 09:20 AM
China’s July activity data weakened from June, missing market expectations across the board, and signaling a soft start to Q3 amid continued divergence between resilient exports and subdued domestic demand.
Originally slated for publication late last night (US time), the data release was delayed for five hours after the statistics agency revised its schedule in a break with recent practice.
Industrial production (IP) growth slowed to 4.5% yoy in July from 5.3% yoy in June, reflecting slower export growth and weaker output growth in ferrous metals smelting, power generation (fell 0.1% y/y to 943.9b kwh), and pharmaceuticals industries.
In sequential terms, IP contracted 0.3% mom non-annualized in July (vs. +1.0% mom non-annualized in June), broadly consistent with last year’s pattern of softer quarter-start momentum.
One stand out from Chinese steel production tumbled last month, putting the industry on track for the lowest annual total this decade as mills adjust to much weaker demand.
The seasonal lull in consumption has been compounded by worsening conditions in the wider economy.
The contraction in construction activity has deepened, according to the latest purchasing manager index, while fixed-asset investment has fallen dramatically, the data from the statistics bureau showed.
Fixed asset investment (FAI) growth fell to -12.8% yoy in July from -9.3% yoy in June on a single-month basis despite a low base, as unfavorable weather and slow government spending continued to weigh on investment activity.
Property activity remained sluggish in July despite recent green shoots in some large cities. Property sales fell 13.5% yoy in volume (floor space) terms and 8.8% yoy in value terms in July (vs. -14.2%/-13.9% in June). Growth in new home starts and floor space under construction weakened to -27.8% yoy and -12.7% yoy, respectively, in July from -26.0% and -12.5% in June. New home completions remained soft at -18.7% yoy in July, though less negative than -25.0% yoy in June. NBS and private-sector data suggest nationwide home prices remain under downward pressure, even as some large cities show early signs of stabilization.
Retail sales growth eased to +0.6% yoy from +1.0% yoy in June despite favorable base effects, mainly dragged down by goods sales.
Labor market indicators were broadly stable and in line with seasonal patterns in July. The nationwide and 31-city unemployment rates, both not seasonally adjusted, edged up to 5.2% in July from 5.0% in June. On a seasonally adjusted basis, we estimate both rates were unchanged from June at 5.1%.
Finally, the Services Industry Output Index – which is reported in real terms and closely tracks tertiary GDP growth – also slowed to 4.3% yoy in July from 4.7% yoy in June.
Societé Generale SA economists including Wei Yao said the country’s growth momentum is “collapsing” outside tech.
“China’s economic data continue to disappoint, with an increasingly K-shaped pattern: strong tech, weakness almost everywhere else,” they said in a report.
In a stunningly honest statement, the NBS said that while the economy has remained “stable” so far this year, the external environment is “complicated and volatile” and domestic demand has stayed weak.
“Some companies are facing operational difficulties, and the foundation for the economy to stabilize and improve still needs to be consolidated,” it said in a statement accompanying the data release.
Finally, July activity data combined with Goldman’s high-frequency tracker for the first half of August suggest a soft start to Q3 – unfavorable weather conditions (e.g., recent Typhoon Dolphin) and the ongoing global energy shock continue to weigh on activity, while government spending has yet to pick up meaningfully despite stronger easing signals from the July Politburo meeting.
Against this backdrop, Goldman sees downside risk to their Q3 real GDP growth forecast of 4.6% yoy (vs. 4.3% yoy in Q2).
They continue to expect the government to accelerate the pace of bond issuance and proceeds spending in coming months, speed up implementation of the new policy-based financial instrument, and keep the door open to additional easing later this year if growth slows further and the full-year growth target of “4.5-5.0%” comes under pressure.
Professional subscribers can read Goldman’s full note here at our new Marketdesk.ai portal
END
4. EUROPEAN AND SCANDINAVIAN COMMENTARIES PLUS NATO
SPAIN
It Was Destroyed In Just Days…
Saturday, Aug 15, 2026 – 07:00 AM
Authored by Steve Watson via Modernity News,
In a matter of days, once-pristine beaches in the Spanish enclave of Ceuta have been reduced to open-air dumps and disease-ridden camps occupied by thousands of illegal migrants who refused to leave after the mass invasion from Morocco.
Locals describe feces, urine, garbage, and makeshift shacks covering the sand. Contagious illnesses are spreading. Mass brawls with bladed weapons have broken out.
What was a quiet coastal stretch has become a third-world encampment on European soil.
Footage circulating widely shows Trampolín Beach and surrounding stretches completely taken over. Residents report they can no longer bring their children to the shore.
“We can’t take our kids to the beach, we can’t go. They are occupied, they are full of shacks, people are eating there, throwing food, it’s full of clothes, feces, urine,” one local said.
Infectious diseases including scabies, tuberculosis, and impetigo are rising sharply. Another resident warned of a “health catastrophe,” noting WhatsApp groups filled with photos of children suffering from these conditions.
Ceuta University Hospital has responded by opening an emergency disaster wing with more than 30 beds.
This is the lingering reality after the late-July surge that saw estimates ranging from 50,000 to as high as 80,000 people cross from Morocco into the tiny Spanish territory of roughly 84,000 residents.
While the legacy media sought to abruptly remove the story from the news cycle by focusing on many of the Moroccan arrivals eventually returning, thousands – largely sub-Saharan African men – remained.
Reception centers collapsed. Beaches became the default solution. Makeshift shacks of branches, plastic, cardboard, and scavenged materials now stretch along the shore.
With too few toilets and showers, human waste and rubbish carpet the sand.
Red Cross teams distribute food rations daily while the settlement expands.
Violence has followed. A mass brawl erupted among sub-Saharan migrants at Trampolín Beach, leaving several injured with bladed weapons. Videos capture the chaos of men fighting amid the trash-strewn shoreline that once drew local families.
The human cost extends beyond pollution and fights. In the weeks after the invasion, health sources at Ceuta University Hospital treated at least five girls under 14 for alleged rapes, plus an underage boy, according to reports.
Many of these minors have been sleeping on the streets due to shelter shortages. The emergency department has been handling 300 to 400 migrant patients a day while operating with pre-crisis staffing.https://modernity.news/2026/08/10/spain-after-mass-migrant-invasion-5-girls-under-14-reportedly-raped-in-ceuta/embed/
Spain: After Mass Migrant Invasion, 5 Girls Under 14 Reportedly Raped In Ceuta
An underage boy was also reportedly raped at a time when the Ceuta medical system is
Emergency-room doctor Susana Ascaso described the situation as a “health disaster,” stating: “It’s not that we refuse to receive them, it’s that there is no room for them.”
She added that undetected cases of tuberculosis, hepatitis, and other diseases remain a serious risk. Residents now compete with the new arrivals for medical care in a system pushed past its limits.
Separate incidents underscore the breakdown in security. A 20-year-old Moroccan migrant with a prior criminal record that included sexual assaults broke into a fifth-floor apartment in Ceuta, climbed onto a balcony, and climbed into the bed of a sleeping 62-year-old Spanish woman, Beatriz Ferron, while wearing only underwear.https://modernity.news/2026/08/10/spanish-woman-describes-moment-of-terror-after-moroccan-migrant-snuck-into-her-bed/embed/
Spanish Woman Describes Moment Of Terror After Moroccan Migrant Snuck Into Her Bed
Ferron recounted: “He jumped onto my bedroom balcony. He came into my bedroom and got into my bed. I thought he was my husband, and when I turned around, I found a stranger in his underwear in my bed.”
She said she felt violated and expressed relief she was not alone, adding she did not know what would have happened otherwise. The man was arrested, convicted under a fast-track process, and expelled.https://www.youtube.com/embed/KhYB8OEE4Lo
NO, The Invaders Have Not All Just ‘Gone Home’
Latest footage proves leftist Spanish government talking point is complete lies
Early claims that the invaders had simply “gone home” proved incomplete. While large numbers did return after shops closed and food ran short, thousands stayed. Beaches and hills remained occupied.
Official estimates of remaining migrants varied widely in the first days and weeks, but the physical evidence on the ground – camps, waste, and ongoing disorder – made clear the problem had not vanished.https://modernity.news/2026/08/01/no-the-invaders-have-not-all-just-gone-home/embed/
Across Europe, the placement of large numbers of military-age migrant men into quiet, cohesive communities repeatedly produces the maximum cultural friction and public outrage. Ceuta’s beaches, once ordinary recreational spaces for Spanish families, have been transformed into something unrecognizable in days.
The same dynamic appears when authorities house groups of single men in small communities far removed from any cultural or practical familiarity with the newcomers.
The result is predictable: littered public spaces, health risks, heightened fear among residents – especially women and children – and a rapid erosion of the everyday order that locals took for granted. It is hard to design a more efficient method of generating upheaval.
Spanish authorities have installed floating barriers, conducted sweeps with the Spanish Legion, and coordinated returns with Morocco. Hospitals and police remain under strain. Local leaders continue to report that the city has not returned to normal.
The images and resident testimony from Ceuta offer a stark preview of what happens when borders fail and numbers overwhelm capacity. Europe has been given the footage. The only remaining question is whether anyone in power intends to act on it.
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END
SPAIN SUNDAY
Second Ceuta Border Invasion Attempt Underway As Military-Aged Migrants Mass Near Spanish Enclave
Sunday, Aug 16, 2026 – 10:09 AM
Summary:
- Second Ceuta Border Invasion Attempt By Sub-Saharan Africans Ilegals
- Public Health Disaster Unfolds In Ceuta After First Invasion, Weeks Ago
- Hybrid Warfare Fears Mount As Migrant Flows Weaponized
- Italy’s Schengen suspension with Spain will remain until security risks disappear
Weaponized Migrant Flows: Spain’s Ceuta Border Under Attack (Again)
Multiple open-source reports indicate that thousands of illegal aliens are massing near Spain’s Ceuta border, raising the prospect of coordinated attempts to breach the enclave for the second time.
If verified, the invasion attempt comes just weeks after the first round, in which more than 60,000 military-aged men attempted to breach the border. This only suggests that migrant flows are being deliberately weaponized to pressure the socialist government in Madrid, potentially marking a second phase of sustained border destabilization.
Official reporting from news outlet France 24 says:
Morocco has deployed heavy security around the border city of Fnideq after false social media rumours claimed the border to Spain’s Ceuta enclave would open. Hundreds of migrants, mostly from sub-Saharan Africa, have gathered nearby, raising fears of another mass crossing just weeks after tens of thousands attempted to enter the Spanish territory.
Paris-based, state-owned RFI (Radio France Internationale) says:
Scores of would-be migrants, most of them from sub-Saharan Africa, were intercepted in northern Morocco near the border with the Spanish exclave of Ceuta on Saturday, two weeks after tens of thousands of people attempted to enter the territory.
Publicly available footage in the social media domain, most of which was posted on X from late Saturday into early Sunday, shows what appear to be swarms of illegal aliens trying to breach the Ceuta border.
Let’s circle back to our briefing on Aug. 5, or about 11 days ago, that pointed to new signals that a second round of weaponized migrant flows would be heading to the Ceuta border by mid-month:
Earlier, we commented on the deteriorating conditions in Ceuta as it faces a public health disaster posed by the military-aged invaders.
A doctor in Ceuta told the media: “I don’t know what diseases I’m bringing home. I can’t even take my dog for a walk. Every day we receive reports of girls who have been raped.”
We suspect Italy’s Schengen suspension with Spain will remain until security risks disappear. EU leaders have warned these migrant flows are part of ‘Hybrid Warfare’ …
Must Reads:
- The Ceuta Crisis And The Emerging European Divide
- Italy Suspends Schengen Travel Agreement With Spain After Horrifying Ceuta Invasion
- 22 EU Leaders Demand “Immediate Action” As Migrant Invasion Raises Fear Of Hybrid Warfare
Spain’s Vox Party Demands Morocco Pay For Migration Crisis As Ceuta Faces Public Health Disaster
A massive influx of migrants into Spain’s Ceuta has pushed the autonomous city’s healthcare infrastructure to the brink of collapse, prompting urgent warnings from medical professionals and triggering a fierce political battle in Madrid over who should foot the bill.
With an estimated 8,000 to 10,000 migrants still remaining in an enclave of just 80,000 residents and 19 square kilometers, local resources are severely overstretched, leaving health services struggling to contain potential infectious disease outbreaks.
These health services are also dealing with cases of rape, physical assaults, and other injuries associated with the massive influx of migrants. Meanwhile, locals say the beaches are occupied by migrants, leading to sprawling tent camps, feces, urine, and the spread of infectious diseases during a critical holiday beach season.
Medical staff on the front lines describe a system operating under extreme uncertainty. At Ceuta University Hospital, officials have opened a specialized 30-bed emergency wing intended for disaster scenarios. Many of these beds are occupied not out of acute medical necessity, but because doctors cannot safely release vulnerable patients onto the streets. As sources at the facility explained, “admission responds to the impossibility of discharging patients and sending them back to the streets.”
The pressure extends far beyond hospital walls into improvised encampments, such as the one at Trampolín beach. Julián Domínguez, president of the Association for the Defense of Public Health of Ceuta, highlighted the immense logistical challenge of providing street-level care to thousands of unsheltered people.
“The lack of hygienic spaces and isolation areas makes monitoring and controlling communicable conditions particularly difficult,” he said.
Medical personnel are already identifying cases of concern, including scabies, tuberculosis, and unexplained fevers. Speaking on the news program En boca de todos, a Ceuta emergency physician warned that conditions are rapidly shifting:
“Scabies is not a disease that has been eradicated, but there were very few cases, which are currently increasing,” said the doctor.
END
GERMANY
Racist Plan For Berlin’s ‘Blacks-Only’ Swimming Pool Day Canceled Over ‘Safety Concerns’
Saturday, Aug 15, 2026 – 09:20 AM
A planned event at the temporary publicly funded “Volksbad” pool in front of Berlin’s Volksbühne theater has been canceled following an alleged surge of online hostility and threats. The initiative, organized in collaboration with the association Each One Teach One (Eoto), was set to reserve the public bath exclusively for Black children and young people for a six-hour window on Friday before opening to the general public.
The organizers are claiming that they could no longer protect participants. According to a statement from the Volksbühne, the event was canceled because the initiative “has become the target of right-wing and racist incitement.”
If we may allow for some editorializing here, this claim is pure propaganda. As much as the fever dreams of the left would like to believe it, KKK members and rabid neo-Nazi extremists are not going to show up to an art project in Berlin and target Black kids.
In short, the organizers got called out for their racist and exclusionary plan, some people complained about it online, and now they need a dramatic pretext to cancel a project that made them look racist.
While the event has been canceled, the theater stands behind the initiative. Lilienthal defended the policy, arguing that the approach aligns with local policy by “implementing Berlin’s anti-discrimination law,” which allows for protected spaces for individuals affected by discrimination.
The question is who gets to define “marginalized groups” and “discrimination.”
For example, there is no doubt that across Germany, young White people are increasingly the target of structural and organized attacks based on their race, especially in the German school system, where they are often a minority. Cases have been exhaustively documented time and time again, yet, it is important to remember that this group would never be permitted to have their own exclusionary swimming day. After all, the dominant ideology governing Germany is that White Germans could never face systematic discrimination. Even commissioning a study to document these incidents would be highly controversial for the left.
Eoto, which receives taxpayer money to empower Black people and runs Berlin-Wedding’s Black Communities Center, is also claiming the event was under threat, according to German newspaper Tagesschau. The organization reported receiving “racist threatening emails as well as threats of violence and discriminatory comments on social media” once public outrage began around the event. Consequently, Eoto stated that physical and mental safety for the children “cannot be guaranteed on Friday at the public bath, not even by security forces and police.”
Volksbühne director Matthias Lilienthal confirmed to RBB hat bathing operations will be suspended between 12:00 p.m. and 6:00 p.m. entirely on Friday. Instead, Lilienthal said he plans to be on-site at noon to engage in open discussions with the public.
Claiming that all Black people face blanket discrimination while implementing an openly discriminatory practice that actually favors them is something the theater should perhaps reflect on. However, Lilienthal’s claim that Berlin’s anti-discrimination policy actually allows for openly discriminatory practices such as this one is open to legal challenges.
Berlin does legally permit and provides taxpayer money to support dedicated spaces for certain racial groups already, such as the Black Communities Center in Wedding. Again, no White “safe space” would ever be permitted.
So, even if this pool initiative is no doubt racist and exclusionary, it could very well be legal under Berlin law but still very open to legal challenges. For example, for typical public events like concerts, club nights, or festivals, the General Equal Treatment Act (AGG) applies strictly. In theory, you cannot reject people from a swimming pool based on skin color and suddenly say that “no White people allowed.”
However, under German constitutional law, the freedom of association and assembly allows groups to host focused political workshops, empowerment meetups, or educational panel discussions intended specifically for marginalized groups. These events are legally classified as “targeted empowerment” or educational platforms that compensate for structural disadvantages or create temporary psychological safety.
Again, the definition of a “marginalized group” raises further legal gray areas that can be challenged. In fact, the entire law creates a problematic form of discrimination.
It is also true that certain community groups and organizations have already secured an exclusive time slot, such as the Gangway Crew, which works with homeless people. However, there is so far no record of any other racial group, such as Hispanics or Asians, securing a time slot at the swimming pool exclusively for themselves. The question is also why do only Blacks of all “discriminated” groups receive a time slot?
The leadership of the taxpayer-funded group is doubling down and is likely looking to pursue similar events in the future, despite the threat that evil neo-Nazis may be lurking in the bushes waiting to attack innocent Black children at the first chance.
“We will continue working with Eoto, we will continue our events, and we will also consider an initiative for these children and young people,” Lilienthal noted, confirming that a replacement event is being planned.
In terms of discrimination, Alternative for Germany (AfD) supporters are likely at the top of the charts in Berlin, where even the whiff of supporting the party can lead to job loss, social ostracism, and violent attacks from Antifa. In the major cities of Germany, being associated with the AfD in any manner is an open invitation to violent attacks.
Sure, an AfD-only swimming event supported by taxpayer money is pretty laughable, but in terms of events that might actually be attacked in Berlin, it might be a top candidate. Yes, Antifa might literally be waiting in the bushes.
Meanwhile, taxpayer money will continue to flow to organizations that continue to idolize minorities, with most of them run by very privileged White people. The Volksbühne venue operates on a substantial budget, benefiting from over €20 million in annual public taxpayer subsidies. The pool itself, measuring 25 meters in length and 1.30 meters in depth, can host a maximum capacity of 46 swimmers simultaneously, with the total budget designed to accommodate an estimated 20,000 visitors over the course of the swimming season. Admission may be free but obtaining an online reservation for a spot is highly competitive.
Maybe in the future Germany can have a swimming day for “battered White kids” in Germany’s multicultural school system, but you shouldn’t hold your breath.
END
UK
British Busybodies Flood ‘999’ To Report Neighbors’ BBQs After Stupid Government Alert
Sunday, Aug 16, 2026 – 09:20 AM
Authored by Steve Watson via Modernity News,
Millions of phones across England and Wales blared a sudden siren on Friday evening as the government unleashed its emergency alert system over ‘wildfire risk’.
What followed was a wave of neighbour-on-neighbour reporting that left fire services and police inundated with non-emergency calls about barbecues in gardens and parks.
The same compliant instincts that flourished during COVID appear alive and well.
The alert, described by First Secretary of State Louise Haigh as “the most extensive use of the UK’s emergency alert system in response to an active incident,” warned of a “very high risk of wildfires nationally.”
It instructed residents, landowners and visitors not to undertake any activity that could start a fire, including disposable barbecues, firepits, garden incinerators or fireworks. Even a small flame, it said, could rapidly develop into a major wildfire placing lives, homes, businesses and emergency responders at risk. People were told to report signs of fire immediately by calling 999.
Prime Minister Andy Burnham said the alert was triggered at the request of firefighters and urged the public to take it “seriously.” He has repeatedly described Britain as a “tinderbox right now” after a record stretch of extreme heat and multiple major incidents, including a West Midlands blaze that destroyed 19 homes across more than 500 acres.
Within hours, the practical result became clear. Fire and rescue services reported a high volume of 999 calls about neighbours using BBQs, lighting bonfires or campfires.
Surrey Fire & Rescue Service stated: “Please only call 999 if there is an emergency or a fire producing significant smoke. We understand residents may be concerned, but we are unable to respond to reports of neighbours having BBQs, bonfires or campfires in their gardens unless there is an emergency.”
Gloucestershire Fire and Rescue Service asked the public to reserve 999 for “a genuine emergency or an immediate risk to life, property or the environment.” South Wales Fire and Rescue Service issued a similar plea for calls only about “a new emergency.”
Police forces also felt the surge. Gloucestershire Constabulary received numerous reports of people using barbecues in parks and having bonfires at private properties after the alert. Officers directed the public away from 101 and 999 for such matters and toward the fire service for genuine fire-related concerns.
In a Britain increasingly fractured by mutual suspicion, certain sections of the population have become so warped by division that they actively seek to report their own neighbours to the authorities merely for the act of lighting a barbecue in their private gardens.
Whatever happened to the simple injunction to “love thy neighbour”? Today, not only do many neighbours scarcely speak to one another, but a growing number appear eager to denounce each other, turning ordinary streets into miniature surveillance states.
This is a dangerous path, one that only accelerates if government continues to expand its authoritarian instincts and reward the culture of denunciation.
Criticism of the decision to deploy the full emergency system for this message was swift. The Telegraph described the alert as “this evening’s abrupt ululation, issued without warning,” calling it “a textbook case of how not to operate emergency messaging software, for the fairly basic reason that there was no emergency involved.” The paper warned that Number 10 risks losing the public’s attention with unnecessary alerts.
On GB News, broadcaster Suzan Holder cited the fable of the boy who cried wolf.
Political commentator James Price argued it “should probably only be used for things like war and peace” and labelled it “a massive abuse of the system.”
Alan Miller of the Together Declaration called the approach “a bit like a nanny intervention” that “undermines the importance of the emergency system.”
The government has also imposed a temporary ban on the sale of disposable barbecues and deployed military personnel to assist stretched fire services.
Real wildfires have caused genuine damage and stretched resources. Yet treating ordinary summer behaviour as a national emergency, complete with phone sirens designed for life-threatening situations, carries its own cost.
When every dry spell or heatwave triggers the same system, the next genuine crisis risks being met with shrugs or silenced phones.
Adults do not need a national alarm to understand that lighting fires in extreme drought is unwise. Turning the emergency alert into another tool of nanny-state messaging only deepens the habits of surveillance and division that COVID normalised.
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END
UK
English Villages In Fear Over 1,200 Male Migrants Moved Next To Schools
Monday, Aug 17, 2026 – 02:00 AM
Authored by Steve Watson via Modernity News,
England’s most peaceful villages are once again being turned into the front line of the migrant crisis.
Up to 1,200 single adult male asylum seekers are earmarked for former military sites sitting within a mile of primary schools, nurseries and children’s play areas, in direct tension with the Home Office’s own recent guidance against housing near sensitive locations.
The plan, revived and pressed forward under the current government, would drop large numbers of young men into high-trust, low-density rural communities that could not be more culturally distant from the backgrounds of many arrivals. The effect is to create maximum demographic shock and local fury in places least equipped to absorb it.
Villagers across North Yorkshire, Suffolk and Oxfordshire are now up in arms as the Home Office continues with three former military bases. RAF Linton-on-Ouse near York is set for as many as 1,200 male asylum seekers. The village itself has only around 600 residents. The result would be a ratio of six migrant men to every local woman. The site sits right in the heart of the community, adjacent to the primary school, a nursery and a children’s play area.https://modernity.news/2026/08/13/english-village-will-have-six-migrant-men-to-every-woman/embed/
North Yorkshire councillor Malcolm Taylor put it plainly: “It’s quite an attractive site, it’s not one of your austere former military sites and it’s right in the heart of the village. So as a consequence, it’s right adjacent to the school, the play park. That’s what has really ramped up the concerns of the community.”
This is the same Linton-on-Ouse that previously defeated similar plans in 2022. The numbers and the location have not become any more suitable. The base is isolated, with limited buses, strained water, sewage and electricity capacity, and no real village infrastructure to support a sudden influx of that scale.
In west Suffolk, RAF Barnham near Thetford faces proposals for up to 1,250 asylum seekers. Barnham School sits close enough that parents are already discussing withdrawing children, a move that could threaten the school’s future. Parish council chairman John Bauer has highlighted the risk.
A third site near the tiny Oxfordshire village of Piddington, beside the former MoD depot at Bicester, sits next to a children’s play area. That community of roughly 350-400 people has already staged a symbolic referendum in which 96 per cent voted to leave the UK rather than accept up to 1,250 single adult male asylum seekers.https://modernity.news/2026/07/15/you-will-not-believe-what-is-happening-in-this-tiny-english-village/embed/
Children wrote pleading letters. Residents described being driven into a corner with no consultation and no serious infrastructure assessment.https://modernity.news/2026/08/05/kids-in-tiny-british-village-beg-the-government-not-to-force-illegal-migrants-on-their-home/embed/
Quiet, traditional villages with minimal services and high social trust are repeatedly selected for the densest concentrations of single young men who arrived illegally. These are places where residents still walk at night without fear and where children play freely. They are precisely the environments most alien to the cultural norms of many of the men being housed there.
Prime Minister Andy Burnham has framed the policy as a matter of fairness. “We cannot have a situation where it’s only the poorest communities in the country that receive all of the dispersal of refugees and asylum seekers. I do believe all parts of the country need to work, to play their part.”https://modernity.news/2026/08/12/watch-uk-pm-wants-every-area-in-britain-to-house-migrants/embed/
Borders minister Anna Turley has insisted the men “are not going to be in the village” and that “everything they need will be on that site.” Home Secretary Shabana Mahmood has said no final decision has been taken and that factors including schools “are taken into account.”https://www.youtube.com/embed/oe-qRTTdLsY
Yet the placements continue to target the same type of community. In the Welsh seaside village of Gronant, population around 1,600, 13 of 15 new-build homes on the site of a former village hall were allocated to asylum seekers without local warning.
Residents only discovered the plan after blacked-out minibuses arrived at night and bunk beds were delivered. One local called it “pure betrayal.” Another said “nobody was told about the arrivals.”https://modernity.news/2026/08/12/what-they-did-to-this-tiny-welsh-village-is-pure-betrayal/embed/
The same dynamic has played out elsewhere: sudden concentrations of single men near schools and play areas, limited local policing, inadequate utilities, and top-down decisions that bypass ordinary planning scrutiny.
For the Bicester and Barnham sites the government is using an urgent national-interest route that sends applications straight to the Housing Secretary, sidestepping local authorities.
Reform’s Zia Yusuf captured the raw numbers: “Andy Burnham is about to dump 1200 unvetted adult male illegal migrants on a tiny village, resulting in locals putting up with a ratio of SIX MEN TO EVERY WOMAN… Burnham is directly endangering British women and girls.”
The consistent choice of the most tranquil, most English villages for the largest groups of single male arrivals produces the maximum cultural collision. These communities did not ask for the crisis, did not vote for open borders, and possess none of the infrastructure or social capital to absorb such a rapid demographic change without friction.
Placing the men there guarantees uproar. It is difficult to see the repeated selection of these locations as accidental.
Local MPs across parties have called the sites inappropriate. Residents are organising. The Home Office continues to insist the moves reduce hotel costs and spread the burden more fairly. What it actually spreads is the sense that ordinary British villages exist primarily as overflow capacity for a system that still fails to stop the boats or remove those with no right to remain.
The villages are not the problem. The policy that treats their way of life as disposable is.
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END
UK
GB News Host Forced From Home By Migrant Gang Death Threats
Monday, Aug 17, 2026 – 07:20 AM
Authored by Steve Watson via Modernity News,
GB News presenter Patrick Christys was ordered by police to abandon his home in the middle of the night after a credible death threat from the Channel people-smuggling gangs he continues to expose in Calais.
The threat-to-life notice from the Metropolitan Police left Christys and his heavily pregnant wife, fellow GB News presenter Emily Carver, packing bags and fleeing to a safe house. One of the men he confronted later turned up on a London street.
A year on, the official warning remains in place and the family still has round-the-clock security.
Christys has spent years on the front line documenting the illegal migrant invasion. In May 2025 he delivered one of the most blunt on-the-ground interviews yet from the Calais camps, capturing the entitlement culture driving the crossings.https://modernity.news/2025/05/15/the-most-honest-interview-ever/embed/
That same determination took him back to northern France last July. He found the gangs advertising openly on TikTok, then switching to WhatsApp to discuss prices, times and locations. Authorities did little. So Christys and a camera crew went and confronted them themselves.
“I realised how easy it was to track them down,” he told the Mail on Sunday. “They advertise on TikTok. Then to talk about locations, times, prices, you move on to WhatsApp. Yet nothing seemed to be done. So, we decided to front them up ourselves.”
By midday he had faced three smugglers and received death threats on the spot. One had a WhatsApp profile picture posing with automatic weapons.
The real blow came days later. Christys was live on air when his wife called during an ad break: the police were at their flat. Someone wanted to kill him.
“I got back just after midnight on July 25. The police read out an official ‘threat to life’ notice,” he said. “It said, ‘As a result of your recent journalistic coverage of organised crime groups in northern France we are aware that members of those organised immigration crime groups are seeking to actively engage with you to cause you significant harm.'”
Officers were blunter still: get out immediately, pack a bag, do not drive the car in case it is booby-trapped, take a black cab to a safe house and do not come back.
A panic alarm was fitted the next day. The couple were later allowed home under strict conditions, told to disguise themselves if they went out. Their son George was born a few weeks later. Stepping outside the hospital for a cigarette, Christys spotted one of the Calais runners he had exposed – distinctive Palestinian-flag-style ring and all – walking straight towards him.
“He walked up to me, paused and I thought, ‘This is it. He’s going to do me’. We locked eyes and he held my gaze, and then walked off. I’m 100 per cent sure it was the same man.”
Worse followed. Contractors arrived to remove the panic alarm. It had already been disconnected for ten days without anyone telling the family, because the police “didn’t have enough.”
Twelve months later the threat-to-life warning has never been lifted. GB News is paying for continuous security patrols. Christys is clear about the source: illegal migrant organised crime gangs operating both in northern France and inside Britain.
“This is personal for me,” he said. “I want everyone to understand the reality of who we’re letting in to our country. These human traffickers wanted to kill me in my own home while my wife was eight months pregnant. Who knows if they’d have tried to harm my wife and son in order to get to me?”
He added, “It makes me incredibly angry that we let illegals into the country – who we all pay for. Then we let those same people make millions of pounds trafficking yet more illegals to Britain. They feel so emboldened, they thought they could kill a TV journalist in his own home and get away with it.”
In his own words on X, Christys thanked supporters and GB News for keeping the family safe. He said the public needed to know exactly how dangerous these gangs are.
Intelligence agencies would only tell the Met that the threat came from illegal migrant organised crime groups, without specifics.
The same gangs who traffic people across the Channel in rubber dinghies feel secure enough to threaten a British journalist in his own home and then appear on a London street. Police resources stretch far enough to disconnect a panic alarm without notice, yet somehow the multimillion-pound smuggling networks continue to operate in plain sight.
Christys is not staying silent. He has already said he will return to northern France. The gangs tried to scare a journalist into stopping. They failed.
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
END
5.RUSSIAN AND MIDDLE EASTERN AFFAIRS
IRAN/ISRAEL SUNDAY
‘Delusional’: Iran Fires Back At Trump’s Make ‘Hormuz Strait A Territory Of The US’ Ambitions
Sunday, Aug 16, 2026 – 11:05 AM
Predictably, Iran has on Saturday issued a full-throated rejection of President Trump’s Friday evening words related to the status on the conflict and energy transit in the region.
In a speech on New York’s Long Island, Trump introduced the idea of declaring the Strait of Hormuz a US territory. “After we finish defeating Iran, which is being very badly defeated — pretty soon, I’ll be declaring the Hormuz Strait a territory of the United States,” Trump told a crowd of law enforcement officers.
“Essentially, that’s what it is. We have the blockade. No ships get through unless we want them to,” he added. He claimed oil prices were coming “way down”.
Some pundits pointed to what seemed like classic hyperbole and his penchant for floating extreme scenarios in off-the-cuff fashion; however, Trump made the statement without any qualifiers other than it will happen when Iran is “badly defeated” by the United States. That seems to be the big if in the future scenario.
A Saturday X response from Iranian Deputy Foreign Minister Kazem Gharibabadi asserted the US has zero authority to claim the strait:
“The Strait of Hormuz has been Iranian, is Iranian, and will remain Iranian,” he wrote, as translated from Persian to English. “This strait will only be closed and opened under Iran’s command.”
The Iranian official then claimed all of Trump’s assumptions about the conflict were delusional, showing that Washington does “not accept the reality of defeat” and so must stop indulging in its “delusions”.
The Iranians have been reiterating that they will continue to enforce their blockade, also as the US Navy continues blocking imports and exports from Iranian ports.
Tehran continues to present the Oman deal – still pending finalization – as completely independent of US desires and conditions, and so better not interfere:
Iran has reached an agreement with Oman on a shipping route map for the Strait of Hormuz after weeks of technical negotiations, Foreign Ministry spokesman Esmaeil Baghaei has told state-run Defa Press.
“Despite US obstruction, the talks have made positive progress over the past three weeks and an agreement has been reached on the shipping route map.”
He added that both sides were still negotiating outstanding issues, including a statement to be issued by Tehran and Muscat, noting that exchanges between the two countries would continue until the process was finalized.
Given the two sides continue holding to conflicting absolutist demands and conditions, there’s a likelihood of further fighting – though it could continue to at a limited, tit-for-tat and slow pace.
Some Republican hawks are calling for some kind of bold military action by Trump, such as ordering the takeover of Kharg Island in order to show the Iranians and the American public that Tehran does not have the upper hand ahead of US November midterm elections.
However, the nearly six months of war so far has tended to demonstrate that each new escalation has not tended to go well for Washington, as Iran digs in its heels and escalates a response in turn.
END
IRAN/USA
Trump: 9 Months At Sea For USS Lincoln ‘Not Nearly Long Enough’
Saturday, Aug 15, 2026 – 08:25 PM
President Trump shrugged off mounting concerns over the welfare of 5,000 sailors aboard the USS Lincoln on Friday, denying that family members were worried and telling reporters that nine months at sea was “not nearly long enough.” His remarks came on the same day that he promised an audience that he would declare the Strait of Hormuz a US territory, and that higher gas prices were a small price to pay so that a “very evil country” wouldn’t obtain “a nuclear weapon.”
The media’s questioning of the US commander-in-chief was prompted by concerns raised by family members of sailors aboard the Nimitz-class aircraft carrier, who say their loved ones are suffering from low morale from being stuck on the ship so long, and that they’re enduring moldy showers, rationing of food, and a lack of basic hygiene supplies like toothpaste, deodorant and soap. One woman says her son told her the food situation has been so bad at times that a meal consists of only a half-cup of rice and two tortillas. Things are so bad that there are reports that at least two crew members have recently attempted to kill themselves by leaping off the towering deck of the ship, which has been participating in the US-Israeli war on Iran.
As he was about to leave Washington for a rally in New York, a reporter started to frame a question by noting that family members were concerned about what was happening to the crew of the Lincoln. “No, they’re not,” interrupted Trump, contradicting the fact that many have raised their worries in a town hall with Navy Secretary Hung Cao attended by some 200 family members, and with the media.
“That ship is moving right now — well, very shortly — and it’s being replaced with another very similar ship,” Trump continued, referring to the USS George Washington. When the reporter asked if the deployments were going on too long, Trump replied, “No, no, no — not nearly long enough.”
The Lincoln departed its San Diego base on Nov. 21, 2025, on what was supposed to be a seven-month deployment. That deployment is now in its ninth month, but what’s far more remarkable is that the Lincoln went more than 200 days without a port call. Typically, a carrier crew might expect a port call every 30 to 45 days, with each break spanning around 3 to 5 days. On Friday, the New York Times reported that problems resupplying the Lincoln and other ships were due in large part to Iran’s prompt destruction of a major logistics hub at America’s Navy base in Bahrain soon after the country was attacked in the middle of ongoing negotiations.
Later, addressing a rally in Garden City on New York’s Long Island, Trump claimed that the nearly six-month-old war on Iran has been a great success. “After we finish defeating Iran, which is being very badly defeated — pretty soon, I’ll be declaring the Hormuz Strait a territory of the United States,” Trump said, eliciting cheers from a crowd dominated by police, firefighters and other first responders. The event was part of the campaign of Republican gubernatorial candidate Bruce Blakeman.
No doubt wary of the war’s potential effect on the upcoming midterms, Trump also asked the audience to be patient with higher prices for gas and diesel, saying that, just before he joined Israel in starting a war on Iran, gas prices were only $1.85 a gallon. “For you to pay a tiny little bit more for your gasoline, just remember, you’re doing it so that a very evil country…[cannot have] a nuclear weapon.” Starting in 2007 and repeatedly up to the February 28 start of the war, the US intelligence community assessed that Iran was not developing a nuclear weapon. “I’ll never apologize, I did the right thing,” he told the crowd.
IRAN/ISRAEL MONDAY
Trump Threatens To ‘Bomb The S**t’ Out Of Oman & Touts IRGC Backchannel
Monday, Aug 17, 2026 – 08:50 AM
President Trump has issued some fresh Monday remarks on Iran, after a weekend where he was relatively quiet on the conflict he launched nearly six months ago, which has long been the central controversial decision made as Commander-in-Chief, threatening to define his whole second term.
In a short interview with Fox News reporter Trey Yingst, who frequently reports from Jerusalem and the Middle East, Trump threatened to bomb Oman if the Gulf country “gets in the way” of US efforts to negotiate and strike a favorable peace deal with Iran.
“I asked the president about… parallel talks that are taking place between Iran and Oman about control of the Strait of Hormuz,” Yingst introduced. Trump then responded: “if Oman gets in the way [of US control in the Strait of Hormuz], we’ll bomb the s**t out of them.”
But already, Oman and Iran have been hammering out a nearly finalized Hormuz Strait deal, which essentially cuts the United States out of negotiations and management of the vital energy transit waterway. The deal is widely seen as ceding to Tehran de facto control of the strait, and thus also giving the Iranians major continued leverage in the ongoing standoff and conflict with Washington.
The timing of Trump’s remarks are further interesting given that on the same day, 60-day window established in the Memorandum of Understanding (MoU) inked between the US and Iran in June has finally expired.
Iran’s Foreign Ministry on Monday made clear its position that the deadline was “irrelevant” anyway given that talks never began as the US resumed hostilities. Spokesman Esmaeil Baqaei said that under the MoU, the ceasefire window intended to give the two sides time to discuss “the nuclear issue” and “the lifting of sanctions”; however he charged the US with violating the terms and thus destroying the chance for talks.
But despite that the MoU will now go down as another failed opportunity, President Trump surprisingly raised another avenue, telling Fox that there is a backchannel with the Iranian Revolutionary Guard Corps (IRGC) officials. The IRGC of course represents a ‘hardline’ aspect to Iranian governance and military command structure, and so it’s surprising that this would be Trump’s alleged backchannel.
Trump asserted that Iran should raise “the white flag of surrender” – but that he has “no time schedule” and is in “no hurry” to make a deal. He noted his observation that the Iranian’s are “good poker players, but they’re dying,” said Trump.
In the interview the president was also asked about widespread reports that the Pentagon is running out of missiles – of both defensive interceptor and offensive variety – due to the Iran and Ukraine wars:
Regarding US munitions used against Iran, Trump said that what has been used so far against Iran “is peanuts.”
Trump added that while the US has many mid-level weapons, many of the more advanced weapons, including air-defense systems, were “given away” to Ukraine by former US President Joe Biden.
Trump separately on Monday reiterated the following warning on nuclear weapons in fresh Truth Social Post:
In the meantime there continues to be nothing but bad options for the administration. Tehran will seek to bleed, pressure, and humiliate Trump going into the November midterms. Iran wants global economic and energy pain to come back and bite Americans, and thus sink Republicans in Congressional elections.
Joey Hood, former acting director of the Office of Iranian Affairs at the US State Department, has pointed out that Trump has encouraged Americans to see higher prices as “a very small tax in exchange for making sure that Iran doesn’t get a nuclear weapon.”
Hood underscored, “But I don’t think any of those objectives have really been reached.” He explained, “The Trump administration is very lucky that oil prices haven’t ballooned, because countries around the world have taken measures to try to absorb the shock. There are also still ships getting through the strait, perhaps by turning off their transponders and passing through undetected.”
The Iranians have been signaling that they have moved from a defensive posture to an offensive one, which they warn will be more aggressive in dealing with Washington action and provocation.
END
MONDAY:
Trump Doubles Down On Plans To Make Hormuz Strait At US Territory: “A Great Idea”
Monday, Aug 17, 2026 – 03:05 PM
Summary
- Trump repeats declaration that he’ll make Strait of Hormuz a “US territory”, calling it “a great idea”.
- Iran goes “fully offensive”: Tehran threatens escalation if diplomacy fails, after last week’s military command reshuffle.
- MoU expires: Iran says the US-Iran agreement is effectively dead & “irrelevant”.
- Trump threatens Oman: Trump warns “we’ll bomb the s**t out of them.”
- Backchannel denied: Tehran rejects Trump’s claim of IRGC communications.
* * *
Trump Latest Iran Remarks from Oval
President Trump repeated some of the same old talking points while addressing reporters in the Oval Office on Monday. He asserted that Iran wants to make a deal, but “they’re not going to make the kind of deal that I feel is necessary.”
“Look, we’re in there for one reason: Iran cannot have a nuclear weapon,” he said. He also doubled down on a prior declaration that he wants to make the Strait of Hormuz a US territory. He said this is “a great idea” – which in effect dispels the notion that when he said it the first time it was mere hyperbole. This is also amid ongoing claims that the US military has “complete control” over the strait.
Oil Spikes as Hormuz Developments Continue from Bad to Bad
Oil spiking amid a hodgepodge of more ‘bad news’ Hormuz headlines, as the Iranians have vowed to go on the ‘offensive’ amid demands that American forces clear out of the region. Fars is currently reporting Iranian forces have seized a UAE oil tanker in the Strait of Hormuz.
US Energy Secretary Wright has meanwhile vowed that the US Navy will continue getting better at escorting approved maritime traffic across. He confirmed “we are not fully back to full oil flow in the Middle East,” according to the Monday comments.
Oil jumps, though its unclear what the precise catalyst might be…
Iran: Shifting from Defensive to ‘Fully Offensive’
This should come as no surprise after the much-publicized military command reshuffle of a week ago, but a top Iranian official has told Reuters that the country is shifting from a defense posture to a “fully offensive” one in its conflict with the United States:
- Iran has decided to shift its policy from defensive to a “fully offensive” one, a senior Iranian official tells Reuters
- Iran has set a deadline of a few weeks for the full implementation of the MoU by the US, the official says
- All Iranian entities will be prepared to escalate tensions in the Strait of Hormuz and the region if diplomacy fails, the official warns
- Iran will not wait for the US to continue the naval blockade indefinitely, the official adds
While bonds and stocks moved on the headline, oil was left little impacted – again perhaps become Tehran had already for days been signaling this new ‘offensive’ messaging as a policy shift…
Meanwhile, Iran is denying earlier Trump claims to have opened up backchannel communications with the IRGC…
And strangely, there was this development:
Iranian drones target Barzani’s Erbil office. Masrour Barzani stated: “my personal office and the home of the head of the Security and Intelligence Agency were targeted by Iranian drone attacks.” No casualties were reported.
This is after Axios reported that Nechirvan was the mediator link to the IRGC backchannel. Here’s what Axios said in a Sunday report on these prior, secretive diplomatic efforts:
In mid-May, U.S. negotiators trying to reach a deal with Iran to end the war ran into a problem: They couldn’t tell if the people across the table actually spoke for the country’s powerful Islamic Revolutionary Guard Corps (IRGC).
So Trump administration officials did something unconventional — they went around Iran’s negotiators and reached out directly to IRGC leadership. The person they tapped for the backchannel was Nechirvan Barzani, the president of the Kurdistan region in Iraq, who had something very few others do: the trust of both U.S. and IRGC leaders.
ISRAEL TBN
END
HEZBOLLAH
Hezbollah threatens retaliatory attacks in after IDF strikes in Lebanon kill 11 people
In response to the IDF strikes, which killed 11, Hezbollah said that IDF strikes in southern Lebanon would be “met accordingly.”
Lebanese President Joseph Aoun attends a joint press conference with French President Emmanuel Macron, at the Elysee Palace in Paris, France, March 28, 2025.(photo credit: REUTERS/SARAH MEYSSONNIER)BySHOSHANA BAKER, CORINNE BAUMAUGUST 15, 2026 14:48Updated: AUGUST 15, 2026 18:14
Lebanese President Joseph Aoun condemned ‘ongoing Israeli attacks’ in southern Lebanon, calling it a ‘violation of the Framework Agreement’ in a post from his office’s X/Twitter account on Saturday morning.
The president’s statement came in response to IDF strikes on Hezbollah’s military infrastructure in the village of Ansar in southern Lebanon overnight on Saturday, following what the IDF described in a statement as aggressive actions by Hezbollah forces towards IDF soldiers on the Ali al-Taher Ridge.
At least 11 people were killed in the strikes, Lebanon’s health ministry said.
PMO claims Hezbollah attacks injured three soldiers
Prime Minister Benjamin Netanyahu’s office said that the initial Hezbollah attacks seriously injured three IDF soldiers.
“This morning Hezbollah violated the ceasefire in Lebanon by attacking our soldiers in the security zone, which protects Israeli communities just across the border. The Hezbollah attack seriously injured three of our soldiers,” the PMO said in a statement. The IDF responded by striking the Hezbollah terror headquarters that ordered the attack.”
The PMO said that it was unaware that Hezbollah put civilians in the Hezbollah military compound.
“Only later did the IDF learn that Hezbollah deliberately put civilians in that military compound. Hezbollah is willing to do anything, including using its own civilians as human shields, to falsely accuse Israel of deliberately targeting civilians, which the IDF clearly did not.”
Lebanese Prime Minister Nawaf Salam also responded to the IDF strikes, calling on Israel to “halt its military escalation” in Southern Lebanon in a post to X/Twitter on Saturday morning.
“The responsibility for dealing with any military structures, if they exist on Lebanese territory, lies exclusively with the Lebanese state, through the Lebanese army and its legitimate institutions, and their existence does not grant Israel the right to violate Lebanese territory or endanger civilians.” Salam asserted.
“Israel must halt this escalation. For the security of our people and their right to life on their land are not subject to negotiation or bargaining,” he added.
In response to the attacks, Hezbollah said that IDF strikes in southern Lebanon would be “met accordingly.”
“This Israeli escalation, through the targeting of civilians and the expansion of the areas being targeted, reflects the desire and intention of the enemy’s criminal prime minister, Netanyahu, to escalate the war in order to bolster his domestic political standing, serve his electoral objectives, and appease the far Right,” the terror group wrote in a statement on Telegram.
“The Israeli enemy must understand clearly that its attacks, violations, and attempts to impose a new reality cannot continue and will be met accordingly, in defense of Lebanon, its people, its sovereignty, and its national dignity.”
Ongoing push for trilateral framework agreement
Negotiations between Israel and Lebanon have remained in a state of flux since the trilateral framework, agreed upon by Israel, Lebanon, and the United States, was signed in June.
The peace agreement, which aims to encourage diplomatic relations between the two neighboring countries, remains uncertain as the IDF continues to maintain its presence in Southern Lebanon, while Hezbollah refuses to disarm.
The Jerusalem Post staff contributed to this report.
END
HEZBOLLAH/HAMAS/ISRAEL
Hamas, Hezbollah coordinating attacks with Iran as IDF warns of rebuilt ‘axis of evil’
IDF says Hamas, Hezbollah coordinating with Iran to rebuild terror axis amid increased friction on Gaza, Lebanon fronts • White House pressure limits Israeli strikes in Gaza City, targeted killings
Hamas terrorists celebrating during a rally in the northern Gaza Strip.(photo credit: SUHAIB SALEM/REUTERS)ByAMIR BOHBOTAUGUST 16, 2026 13:21Updated: AUGUST 16, 2026 13:49
Hamas and Hezbollah have begun coordinating their increased activity with Iranian assistance in recent weeks, the IDF has assessed, as the military has identified increased friction between Israeli forces and terrorists on both the northern and southern fronts.
The IDF has expressed that the coordination is likely an effort to rebuild its axis of evil that would increase pressure on Israel.
According to a military source, a ‘battle of wits’ is taking place around the Ali Taher ridge between the Northern Command and Hezbollah.
The terrorist organization is trying to determine where IDF troops are positioned, and when it detects movement, it attempts to attack in a “gray area,” as it did early Saturday morning with a fiber-optic drone. Three soldiers from the IDF’s Yahalom special engineering unit, operating under the Commando Brigade combat team, were wounded as a result.
Hezbollah attempts to resupply operatives trapped underground
At the same time, according to reports, Hezbollah is attempting to resupply its operatives who are trapped in underground infrastructure. The IDF, meanwhile, is trying to locate Hezbollah infrastructure and terrorists on the Ali Taher ridge and destroy them.
“Whoever comes out of the underground and surrenders will be taken for questioning in Israel, and whoever remains underground will either die, or we will kill him,” a senior military source said.
The Northern Command is also conducting a complex intelligence effort to locate all hidden supply routes and drone activity intended to resupply Hezbollah operatives in the area.
“We are blocking access to the area where they are located. They will not be able to hold out forever,” a senior military source familiar with the details said.
According to reports, the operatives have been emerging from underground to search for food.
“What happened on Saturday was that they exposed us with a drone. Whoever is more determined will win. A lot of patience is needed,” the source added.
In response, the IDF struck in the Nabatieh area and within territory under the IDF’s operational control. Beirut and senior officials from the Shi’ite organization who are hiding there have remained off-limits due to a US demand.
IDF tank drives over explosive device in Gaza Strip
Meanwhile, an IDF tank drove over an explosive device in the southern Gaza Strip. According to IDF assessments, the device was planted recently.
Although the Southern Command views the incident as an escalation in the friction along the Yellow Line, the political leadership did not authorize a broad strike in the heart of Gaza City, again due to sensitivities with the White House, which is demanding an immediate halt to strikes in Gaza City and targeted killings, except in cases involving the removal of an immediate threat.
END
ISRAEL HEZBOLLAH
Israel Threatens Return Of Lebanon War After Unleashing Deadliest Airstrikes Since Ceasefire
Monday, Aug 17, 2026 – 02:45 AM
Despite a June ceasefire technically being in effect, new weekend Israeli attacks on southern Lebanon mark the deadliest escalation since fighting largely came to a halt earlier this year.
The Saturday attack saw eleven Lebanese killed – among them three children – and 19 injured after Israeli warplanes bombed several areas. It’s by far the biggest mass casualty event since the ceasefire took effect, also in terms of extent of destruction.
“Israeli warplanes bombed a home on the outskirts of the village of Ansar, killing seven people and flattening the building early on Saturday morning, The Guardian reported. “Rescue services were working at the site to try to find survivors and locate bodies.”
“Another airstrike hours later on a home in the town of Deir al-Zahrani killed two, wounded nine and covered the streets in rubble and smoke,” the report continued to detail. “An Israeli drone also targeted a motorcycle in the nearby city of Nabatieh, but it was unclear if the driver was killed.”
Lebanon’s National News Agency (NNA) wrote of the fresh escalation wrote, “The Israeli enemy committed a massacre in the southern town of Ansar at dawn today, resulting in seven martyrs and three wounded.”
Houses and structures across various villages were reported flattened. Israel may have been acting related to reported Hezbollah attacks on IDF troops early Saturday in which which three soldiers were wounded. It was said to be the result of an explosive drone sent from Lebanon.
Israel is threatening to ramp up its operations in Lebanon once again, with Defense Minister Israel Katz saying Sunday morning post on X: “No score on any front will remain unsettled.” He added: “We will forcefully defend our soldiers and citizens.”
According to more from Israel’s side of the narrative:
The Israeli military spokesperson, Ella Waweya, said Israel had attacked “Hezbollah infrastructure” in the Ansar and Nabatieh area in response to the group’s fighters attacking soldiers in the Ali Taher area.
…On Sunday, the Israel Defense Forces said it had killed a senior Hezbollah commander in an airstrike in the southern Lebanon town of Deir al-Zahrani the previous day. It said the Saturday morning strike on Ali Muhammad Fakhr al-Din came in response to a Hezbollah explosive drone attack in the predawn hours Saturday that seriously wounded three soldiers.
Lebanese media reported that the Deir al-Zahrani strike on Saturday morning killed two people.
Aftermath of Israeli attack on the southern Lebanese town of Deir al-Zahrani:
And additionally there was a rare Saturday statement (on the Jewish Sabbath) from Prime Minister Netanyahu’s office: it said “Hezbollah violated the ceasefire in Lebanon by attacking our soldiers in the security zone, which protects Israeli communities just across the border.”
“The IDF responded by striking the Hezbollah terror headquarters which ordered the attack,” the PM’s office said. “Only later did the IDF learn that Hezbollah deliberately put civilians in that military compound,” the statement added.
END
HAMAS/ISRAEL/USA
Kushner Holds Talks With Netanyahu On Gaza Peace Plan
Monday, Aug 17, 2026 – 10:40 AM
Authored by Tom Ozimek via The Epoch Times,
U.S. special envoy Jared Kushner was meeting with Israeli Prime Minister Benjamin Netanyahu on Aug. 17 as Washington sought Israel’s support for a 15-point roadmap aimed at advancing President Donald Trump’s peace plan for Gaza.
Monday’s discussions were expected to focus on dismantling Hamas’s military capabilities, transferring civilian and security control in Gaza to a new Palestinian administration, and the conditions for an Israeli withdrawal.
The meeting follows Kushner’s talks on Sunday with senior Hamas official Khalil al-Hayya in Egypt, according to diplomatic sources who spoke to Reuters. It marks the second known direct engagement between Trump administration envoys and representatives of the U.S.-designated terrorist group.
Israeli sources separately confirmed to Epoch Magazine Israel that Kushner met with a Hamas representative in Cairo, although they did not identify the individual.
Hamas said in an official statement that a delegation led by al-Hayya had met under Egyptian sponsorship with mediators and guarantors of the Gaza ceasefire agreement. The statement did not identify Kushner or the other participants.
The group expressed hope that Trump “would continue his efforts to end the pain and suffering of our people and achieve security and stability for the region, as a supreme goal toward which everyone strives.”
Kushner previously met Hamas officials alongside U.S. envoy Steve Witkoff in October 2025, helping secure an agreement that led to a ceasefire in Gaza and the release of the remaining hostages seized during the Oct. 7, 2023 Hamas-led attack on Israel.
Israeli diplomatic officials previously told Epoch Magazine Israel that Kushner’s meeting with Netanyahu is intended, in part, to assess the gaps between the Israeli government and the Trump administration regarding implementation of the 15-point roadmap.
Netanyahu has publicly rejected parts of the Board of Peace proposal, which Israeli officials say conflict with aspects of the 20-point Gaza peace plan initially put forward by Trump and accepted by Israel last year.
Dispute Over Withdrawal
The central dispute concerns whether Hamas must surrender all of its weapons before Israeli forces begin withdrawing from Gaza.
Netanyahu raised objections to the Board of Peace roadmap earlier this month, saying Israel would not pull back from its current positions until Hamas had been fully disarmed.
He said the disarmament must cover all of the terrorist group’s weapons and must be genuine rather than “fictitious.” Netanyahu added that some U.S. proposals were acceptable to Israel, while others were not.
Israel currently controls about 60 percent of Gaza. Netanyahu has previously warned that Israeli forces could advance farther if Hamas fails to disarm.
A boy walks carrying a table on his back past salvage workers scrapping the rubble of a building that was destroyed during Israel’s war against Hamas in Gaza, to use the recycled remains in the future, in Gaza City on Aug. 16, 2026. Omar Al-Qattaa/AFP via Getty Images
Trump said in late July that an agreement had been reached for the complete disarmament of Hamas and other armed groups in Gaza.
“Israel will have the security it deserves, with Gaza no longer used as a base for terror attacks,” Trump said in a post on Truth Social, adding that the Board of Peace had reached a “historic” agreement paving the way toward lasting regional peace and security.
Under the Trump-backed roadmap, Hamas would hand over its weapons to a Palestinian administration intended to oversee daily operations in the territory. An International Stabilization Force and a newly formed Palestinian police force would assume responsibility for security as Israeli forces withdraw in phases.
The plan also calls for dismantling tunnels, weapons depots, military production sites, and other terrorist infrastructure. Hamas and other armed factions would be excluded from governing Gaza.
The Board of Peace said in an Aug. 3 post on X that Israeli forces would not withdraw beyond the so-called Yellow Line until Hamas’s light and heavy weapons had been decommissioned and its tunnels dismantled.
Israeli officials have raised concerns that allowing the new Palestinian administration and the international force to enter Gaza before Hamas is fully disarmed would depart from Israel’s understanding of Trump’s original 20-point plan.
Hamas has expressed support for the roadmap, saying in the Aug. 16 statement that its approval for the plan “stems from the interest of our people and the desire to achieve a permanent ceasefire.”
Salvage workers scrap steel rods from the rubble of a building that was destroyed during Israel’s war against Hamas in Gaza, to use the recycled remains in the future, in Gaza City on Aug. 16, 2026. Omar Al-Qattaa/AFP via Getty Images
The group said its approval of the roadmap for the second phase of the plan is “based on the interests of our people and our commitment to achieving a permanent ceasefire, the complete withdrawal of the occupation army from the Gaza Strip, ensuring urgent and sustained humanitarian relief, beginning the work of the administrative committee, reconstruction, and the remaining agreed-upon obligations.”
Hamas has accused Israel of failing to meet its obligations under the first phase of the cease-fire.
The foreign ministers of Saudi Arabia, the United Arab Emirates, Jordan, Pakistan, Indonesia, Egypt, Qatar, and Turkey issued a joint statement on Sunday calling on Israel to fully accept the roadmap while denouncing Israeli rejection of Palestinian statehood.
“Israel now bears responsibility for obstructing the efforts to bring peace in Gaza,” they said.
Board member Nikolay Mladenov speaks after the signing of a Board of Peace charter during the World Economic Forum meeting in Davos, Switzerland, on Jan. 22, 2026. Evan Vucci/AP
Board of Peace CEO Nikolay Mladenov described the negotiations as “slow, grinding and technical work” in an Aug. 3 post on X.
He added that he met with Netanyahu and his team in Jerusalem that day, describing the discussions as the “start of the hard phase.”
IRAN/USA
Iran’s Army Chief Offers $30K Reward For Kill Or Capture Of American Troops
Monday, Aug 17, 2026 – 05:45 AM
In the face for more White House threats against Iran, including Scott Bessent’s latest unprecedented ‘economic isolation’ plan for the Islamic Republic, it remains clear that the Iranians aren’t backing down.
Instead, they are issuing some heightened threats and bluster of their own. The country’s military in a surprise move announced Sunday that it was offering a bounty equivalent to $30,000 for killing or capturing US soldiers.
What’s more, and perhaps even more provocative, is that the reward will double if the kill or capture of American troops is carried out by a woman.
“Anyone who kills or captures and hands over an invading American military personnel will receive a reward equivalent to $30,000 or 5 billion tomans from the Islamic Republic of Iran’s Army,” Army chief Amir Hatami announced.
“Courageous Iranian women who carry out such an action will receive double the reward,” he added.
Hatami described the plan was the result of popular demand, citing a supposed “large number of requests” to participate, according to the IRNA state news agency. No additional details were given on whether the alarming new bounty program has a timeline or limit attached to it.
But Hatami did say, in a bizarre and very dark incentive, that whatever weapon is used to kill an American will later be held in a museum for the public to admire.
“Given the large volume of requests to participate in the financial jihad, a plan was prepared according to which, for every person who kills or captures and hands over an American aggressor force, the Islamic Republic of Iran Army, with the support of the loved ones participating in the financial jihad and under its own guarantee, will receive a gift equivalent to $30,000 or 5 billion Tomans. Zealous Iranian women who succeed in this action will also receive double the reward,” Hatami stated.
“The weapon of any person who succeeds in killing an American aggressor will be purchased at double the price and will receive a new weapon. The individual’s weapon will also be kept in a planned museum,” he added.
The Iranian army chief also reiterated calls for US forces to finally leave the Middle East altogether, saying “they no longer have permission to enter the Persian Gulf, the Gulf of Oman or the Strait of Hormuz”.
Throughout the conflict, Iran has frequently targeted locations in Gulf states where American forces are believed to be stationed. In some instances, Iranian officials have said they’ve even targeted hotels or other off-base locations where US troops are being housed.
Since President Trump launched Operation Epic Fury nearly six months ago, 18 US servicemembers have died according to official Pentagon figures, along with over 600 wounded or injured.
END
LOOK WHO IS TALKING ABOUT INTERNATIONAL ABUSE
QATAR/IRAN
Qatar Denies Holding Iranian Pilots As Tehran Demands Answers Over Missing Airmen
Monday, Aug 17, 2026 – 03:30 AM
Qatar has denied that it is holding three Iranian pilots who Iran says were captured alive after their fighter jets crashed during the US-Israeli war on the Islamic Republic.
On Saturday, Mohammad Bagherzadeh, head of the Missing Persons Search Committee of Iran’s Armed Forces General Staff, stated that “Three Iranian pilots were captured alive by Qatari forces after the Su-24 fighter jets crashed during the March attacks.” He identified the captured pilots as Javad Salehi, Abdolmajid Dashtian, and Omran Behraveshian.
Iran is urging the International Committee of the Red Cross (ICRC) to investigate the condition of the pilots. In a statement to the ICRC, Bagherzadeh said that the pilots “have been held by Qatari forces for six months” and have not been allowed to contact their families.
Qatari Foreign Ministry spokesman Majed al-Ansari denied the claims, saying Qatar is not holding any Iranian pilots.
“We categorically deny the claims circulating regarding the detention of Iranian pilots,” Ansari said in a statement posted on X. Iranian officials were making “misleading statements” at a sensitive moment for regional diplomacy, he added.
Doha acknowledged shooting down two Iranian Su-24 fighter planes in March as they attacked the Al-Udeid Air Base, the largest US military base in West Asia and home to US Central Command (CENTCOM) personnel.
Qatar said its search and rescue teams located the body of one Iranian pilot, Majid Kazemi, following the incident and had coordinated with Iranian authorities to return the body, in accordance with international humanitarian law.
Qatar added that it had invited Iranian officials to visit the country to obtain details of the search-and-rescue operation, while claiming Iran had not yet responded to the invitation.
Amid the dispute, Qatar says it remains actively engaged as a mediator between the US and Iran and is pushing for a negotiated settlement to the war.
Negotiations are at a standstill, with Iran insisting the Strait of Hormuz will remain closed until the US agrees to its terms. Meanwhile, the US Navy is continuing its blockade on Iranian ports.
“After we finish defeating Iran, which is being very badly defeated, pretty soon I’ll be declaring the Hormuz Strait a territory of the United States,” Trump hyperbolically claimed on Friday. “Essentially, that’s what it is. We have the blockade. No ships get through unless we want them to.”
Tehran rejected the remarks on Saturday. Iran’s Deputy Foreign Minister Kazem Gharibabadi stated that the strategic waterway “cannot be seized with a tweet, nor with an aircraft carrier.” He warned that Iran would continue to enforce its closure of Hormuz until Washington accepts “the reality of defeat.”
Iran closed the Strait of Hormuz, through which one-fifth of global oil and gas exports normally travel, in response to the unprovoked US-Israeli attack on the country in February.
Iran’s closure of the strait caused a global energy supply shock that drove up gas prices, exacerbated inflation, and raised alarms about oil reserves across the world.
END
RUSSIA VS UKRAINE
Ukraine Hits Key Russian Space Facility With Flamingo Cruise Missiles
Saturday, Aug 15, 2026 – 02:35 PM
Ukraine’s long-range drone attacks have frequently targeted military bases and oil refinery and energy sites of late, and more recently warehouses of major Russian online retailer Wildberries – but on Saturday a new target has been added: space facilities.
Ukrainian forces have touted that they’ve struck the Progress Rocket and Space Center in Russia’s Samara region. The facility focuses on the manufacturing and operation of space launch vehicles.
Ukrainian President Volodymyr Zelensky said on X that Ukraine hit the space manufacturing center with FP-5 Flamingo cruise missiles – among the largest in Ukraine’s arsenal, and which are domestically developed and produced.
He said it was necessary to target Russian space agency Roscosmos as among Russia’s “key enterprises” – and that the targeted site was also involved in “electronics production” connected to military operations.
Other sites targeted in the fresh wave of attacks included Savasleyka air base in the Nizhny Novgorod region, which hosts aircraft used to attack Ukraine, as well as an oil facility in Ust-Luga, which lies close to the Estonian border.
“Our plan of long-range sanctions against Russia for this war is being implemented, and it is important that Russia’s war potential be reduced,” Zelensky stated.
Ukrainian national media offered this as a backgrounder:
The “Progress” Rocket and Space Center is one of the key enterprises in the Russian Federation’s rocket and space industry, producing launch vehicles of the “Soyuz” family. These are used to launch Russian spacecraft for military, reconnaissance, and communications purposes into orbit.
In particular, the “Soyuz-2.1b” is used to deploy the Russian “Rassvet” satellite constellation – a broadband satellite communications system that Russia positions as an analogue to Starlink.
The Progress Rocket and Space Center also manufactures Earth observation satellites, which the enemy uses for reconnaissance purposes.
Russia also attacked Ukraine overnight, as has long been the norm. Over 150 Russian drones were sent on the country, with Ukrainian forces claiming shootdown or neutralization of 124 of these, according to a military statement.
The fresh onslaught resulted in dozens of injures. As for potential casualties inside Russia, little is yet known of this in terms of secretive space and airbase facilities targeted.
END
RUSSIA UKRAINE SUNDAY
now both sides are losing the war: Moscow losing lots of men and infrasture: Ukraine land and soldiers
(zerohedge)
Ukrainian Drone Swarm Attack Obliterates Wildberries’ Largest Warehouse Near Moscow
Sunday, Aug 16, 2026 – 09:55 AM
Ukraine launched one of its largest kamikaze drone attacks of the war against Russia on Sunday, with Russia’s Defense Ministry saying air defenses intercepted 822 Ukrainian drones overnight, including roughly 600 headed toward Moscow.
Ukrainian long-range missiles and drone swarms have targeted high-value military assets and oil and gas infrastructure deep inside Russia this year, with Ukraine stepping up its latest attacks on logistical networks, such as Russia’s version of Amazon, called Wildberries.
Another Wildberries logistics warehouse was struck on Sunday, this time near Moscow. That brings the total to 20 of the e-commerce giant’s warehouses across Russia that have been targeted by Ukraine since mid-July.
Breaking news Telegram channel Astra reported that the latest Wildberries warehouse to be attacked is in Podolsk, Moscow Region, and is the “largest” warehouse owned by the e-commerce giant.
For context, Wildberries is Russia’s largest online retailer and a critical national distribution network, with roughly 98,000 pickup points supporting tens of thousands of merchants.
The latest figures suggest that, as of Aug. 7, excluding the warehouse in Podolsk, Wildberries had 20 facilities and more than 1.18 million square meters of warehouse space, equivalent to over one-fifth of its capacity, taken offline by drone attacks.
The resulting inventory losses and delivery disruptions have sparked concerns about seller bankruptcies, inflation and potential state support.
Wildberries and another Russian e-commerce platform, Ozon, together sell goods and services worth 8.5% of Russia’s gross domestic product. They provide jobs for 4 million people, or more than 5% of the country’s workforce.
Breaking on Saturday:
Previous Wildberries reporting:
- Wildberries – Russia’s Amazon – Has Seen Four Major Hubs Attacked In Quick Succession
- Yet Another Wildberries Facility – Russia’s Amazon – Goes Up In Flames After Ukraine Drone Strike
Meanwhile, Ukrainian forces continued striking Russian military assets and energy infrastructure in occupied Crimea. Russia retaliated overnight with strikes on Kyiv, targeting what Moscow described as facilities supporting Ukraine’s military.
Neither side has demonstrated an ability to shut down the other’s expanding long-range strike campaign. Kyiv’s attacks on Russia show that targeting is shifting to logistics and economic infrastructure, while Moscow continues targeting Ukraine’s defense-industrial base.
MIDDLE EAST/PEPE ESCOBAR
Escobar: The New Great Game, Revisited
Friday, Aug 14, 2026 – 11:25 PM
Authored by Pepe Escobar via ‘Geopolitics Prime’ substack,
It took only a few Yemeni missiles on Saudi refineries to wake up “leadership” vectors of the Ummah; not over 100,000 Palestinians killed in Gaza by the death cult.
The Mecca Sunni NATO pact between Saudi Arabia, Turkiye and Pakistan remains a puzzle. Or dodgy sub-standard theatre – complete with photo ops and sparse intel sharing. The full text has not been released. Everything is quite vague, only stressing “collective deterrence”.
Against whom, it’s in the eyes of the beholder. All options – Eretz Israel, US-Israel, India (in case of attacking Pakistan) – might apply. The operative concept is “might”. Add to it Turkiye’s myriad NATO constraints: a viper’s nest in itself.
Significantly, Turkiye informed Iran before signing the Mecca deal. Extra layers of spin even promote Iran joining the deal in a later stage, as Riyadh in theory rejects military strikes on Tehran, and Iran might be covered by Pakistan’s nuclear umbrella.
Saudi Arabia’s Crown Prince Mohammed bin Salman, flanked by Turkiye’s President Recep Tayyip Erdogan, left, and Pakistan’s Prime Minister Shehbaz Sharif, right, signing a joint defence agreement in Mecca, on August 7, 2026
Geography, once again, will dictate matters. Turkiye will remain in NATO – because Turkish elites are essentially Atlanticist. Saudi Arabia would have to perform miracles to extricate itself from the US security umbrella – and Indian labour. Pakistan’s priority is China and the New Silk Roads, plus the IP gas pipeline from Iran. Mecca is essentially Deterrence Theater.
A different, more intriguing scenario would point to the instrumentalization of Greater Turan – a key Turkiye objective – to the benefit of the US/Zionist combo. That would point to a neo-Ottoman remix, now reconfigured as the leadership of comprador Arab affairs. As in Ankara recreating the Ottoman hierarchy with itself at the center – as a matter of “saving” Zionists and Salafis from themselves.
It seems that the Mecca spark came from MbS himself (no one really knows, as things in Riyadh are so opaque). As Riyadh is being deprived of exporting oil via the Red Sea by Yemen – and might even lose their oil wells if things get rough – why not bet on benign neo-Ottomanism?
Why the US can never lift sanctions on Iran
Oil export routes through and around the Strait of Hormuz. Source: International Energy Agency, February 2026.
Meanwhile in Iran, under a revamped – by Leader Mojtaba Khamenei – Supreme National Security Council (SNSC), the solidified consensus is that Tehran will never compromise, especially under the current “no war, no peace” status.
Washington would have to meet a set of very harsh conditions before the Strait of Hormuz reopens, including:
- The end to US threats and “insults”;
- Permanent end to US wars against Iran and its allies in Palestine, Lebanon, Yemen, and Iraq;
- Lifting of the American naval blockade and withdrawal of all US forces;
- No less than $300 billion in compensation for war damages;
- Lifting of all sanctions;
- Unconditional release of all frozen assets;
- Iran’s right to charge up to 7% on cargo transit;
- A ban on US and Israeli vessels;
- A 20% violation toll on ships if conditions are breached.
Call it an intimation for a US surrender: a capitulation on every front – from “follow the money” to military expulsion, end of sanctions and total Iranian control over the Strait of Hormuz.
Even grains of sand across the Old and New Silk Roads are aware that humongous US debt is avid for new mechanisms to be fed with control over natural resources – from oil and gold to rare earth minerals. And these natural resources must be priced in US dollars and the petrodollar.
Iran – the key crossroads of Eurasia – has absolutely everything the US needs. Yet it’s sovereign, independent and intimately aligned with the Russia-China strategic partnership.
So this has all the makings of a Forever War. Washington will never lift sanctions on Iran. That’s politically – and geoeconomically – impossible. And Washington, whoever is in power, will never accept Iran’s control over the Strait of Hormuz, administrative fees included, because that seals, in practice, the imperial failure to use economic sanctions as its “diplomatic” tool of choice.
The result is that some of the serious consequences of the war unleashed on February 28 are already quite clear. Those include the possible financial destruction of the GCC, complete with the collapse of their ruling regimes; Yemen’s nearly inevitable geographical expansion; virtually complete international isolation of the death cult; a massive global economic crisis in tandem with a US financial crisis; and Iran’s accession to the status of prominent West Asia power, prominent Eurasia power, and prominent Global South power.
All that implies a massive geoeconomic game-changer facilitating a much faster rise for BRICS – and BRICS+ – complete with the solidification of Shanghai as the ideal solution for Global South capital to secure their savings.
Watch out for the “Eurasian Axis”!
The Empire of Chaos, Lies, Plunder and Piracy will not take any of that lying down. So the chessboard will continue to be destabilized even in nodes that in theory are controlled by the Sovereign Independents.
Enter the Caspian Sea – a key node of the International North South Transportation Corridor (INSTC), one of the premier connectivity corridors of 21st century pan-Eurasia trade, linking BRICS members Russia, Iran and India to Central Asia while bypassing Western sanctions and NATO-controlled maritime chokepoints.
Hybrid War in the Caspian perfectly fits the imperial scenario of provoking negative systemic fallout expanding beyond Russia and Iran all the way to China and Europe. After all China regards the Caspian as a key connectivity channel between Belt and Road Initiative (BRI) projects and Central Asia and Europe.
So the Caspian could become the apex of a geopolitical divide near the center of Eurasia, contraposing Washington/Tel Aviv/Kiev to the BRICS/SCO Sovereign Independent civilization-states.
Enter, once again, Turkiye – now as the possible missing link in the Zionist axis drive to connect both wars (NATO on Ukraine, US/Israel on Iran): after all they are the one and same war from the beginning.
Still it will be a hard sell to seduce Sultan Erdogan to go after Russian and Iranian strategic assets in the Caspian, even indirectly via Azerbaijan. An even more complex replacement would be Kazakhstan, which for all of its “multi-vector” policies is a full SCO member, a full Eurasia Economic Union (EAEU) member and a BRICS+ partner.
Turkiye’s actions should be ultimately measured by the official drive to strengthen the Organization of Turkic States (OTS; Azerbaijan and Kazakhstan are both members) and what they might come up with to try to choke Iran’s geopolitical maneuvering.
Leaders of the Organization of Turkic States at an informal summit in Turkistan, Kazakhstan, May 15, 2026
Once again: it’s all about how they will play the Greater Turan card across the Caucasus and especially Central Asia, with their vast reserves of oil, uranium, lithium and critical minerals.
Moscow is carefully observing it all, with extreme discretion. Incidentally, last November Kazakhstan became the first Central Asian “stan” to join the Abraham Accords, in connection with a massive US-Kazakhstan minerals deal.
History Repeating is always quirky: we’re back to the original, late 19th century Russia-Britain Great Game. MI6 after all fully supports Greater Turan – as a premier counterpunch to the Three Sovereigns, Russia, Iran and China. Or what Trump has recently defined, for the first time ever (Elbridge Colby whispering in his ear?) as the “Eurasian Axis”.
At the National Museum in Astana, Kazakhstan, there’s a flashy panel representing all Turkic peoples, over 40 ethnic groups. Uygurs are in the mix, as well as Kazakhs and Azeris. But to translate that into Turkiye moving as a great player across Eurasia – complete with support from fake mythological narratives – is a whole new ball game.
The whole drive is not more sophisticated than creating a market for outright Turkic nationalism, with the Central Asian “stans” incorporated at best as junior partners.
Mecca as a Hail Mary pass
As the imperial pressure over The Three Sovereigns won’t relent, interlocked signature moves make all the difference. For instance: China investing in the Wakhan Corridor in Afghanistan as an extra road to reach Iran.
The Wakhan Corridor at Afghanistan’s eastern edge, where a proposed highway would create a direct land connection with China.
It’s The Great Game all over again: the Wakhan Corridor came out of nowhere at the end of the 19th century to “protect” British India from Russia’s advances in Turkestan. It connects with China’s Xinjiang for only 70 km or so, as I saw during my Pamir Highway travels before Covid.
This is one of the most high-altitude strategic borders on the planet. Only 5 months ago, Beijing came up with a new county in Xinjiang, Cenling, overlooking the border. Everything in this mountain wilderness is run from Kashgar, where the $60 billion China-Pakistan Economic Corridor (CPEC) begins.
Translation: on top of the China-Iran railway – previously bombed during the war on Iran by the Americans – this is an extra overland path from China to Iran bypassing the maritime routes, susceptible to Trump’s blockades.
China, in trademark win-win mode, will go all the way betting on both options simultaneously: CPEC, via Pakistan, and the Wakhan, via Afghanistan.
To round up our travels across selected spots of the New Great Game: in the end everything will be decided in West Asia. And that brings us back to the Mecca Sunni NATO pact.
This sharp analysis points to Mecca as a Hail Mary pass linked to the current sore lack of petrodollar recycling by the petro-monarchies – the mechanism propping up that monster, unpayable US debt; the pyramid of derivatives; and Wall Street’s solitary AI mega-bubble.
And this is what’s really driving the imperial desperation to settle something, anything with the Persians.
Because Iran has defined the prime geoeconomic battleground for the RICs (Russia, Iran, China, the new Primakov triangle), much more efficiently than endless BRICS discussions: the collapse of the GCC petrodollar racket.
Without this racket, a financialized neo-colonial empire run by remote control is absolutely impossible.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge.
END
6/.GLOBAL ISSUES, COVID ISSUES, VACCINE INJURIES/HEALTH ISSUES
Fauci In Hiding As ABC Censorship Bombshell Explodes
Saturday, Aug 15, 2026 – 05:30 PM
Authored by Steve Watson via Modernity News,
Dr. Anthony Fauci just refused a private transcribed interview with Sen. Ron Johnson’s subcommittee. The same week, a former ABC News correspondent revealed that the network gutted a 2021 Wuhan lab leak investigation after the script was sent to Fauci for review.
The pattern is unmistakable. Stonewall. Censor. Invoke privilege. Repeat.
On Friday, Fauci’s attorney notified Sen. Ron Johnson that the former NIAID director would not appear for a closed-door, transcribed interview as part of the ongoing investigation into the failed COVID response.
Johnson laid it out plainly:
“Dr. Fauci’s attorney has just notified us that Fauci refuses to appear for a private transcribed interview. The American people deserve answers to legitimate questions regarding our miserably failed response to COVID-19. Some of those questions can only be answered by Dr. Fauci. He arrogantly once stated that he was ‘very happy to testify before any congressional oversight committee. I have nothing to hide.’ Apparently, he has a lot to hide. Since Fauci refuses to talk about his role and decisions related to COVID-19, my Subcommittee will continue to obtain his records and request to speak with key individuals that he worked with. We will explore our legal options before deciding our next steps.”
This comes days after the Senate Homeland Security and Governmental Affairs Committee voted along party lines to hold Fauci in contempt for his July 29 performance, where he invoked the Fifth Amendment roughly 112 times.https://modernity.news/2026/08/06/senate-committee-votes-to-hold-fauci-in-contempt/embed/
Fauci’s lawyer responded to Johnson’s request by claiming any effort to compel his appearance would “impermissibly harass or degrade Dr. Fauci for political purposes.”
The AP reported the decline, noting it followed the partisan contempt vote and the earlier hearing in which Fauci repeatedly declined to answer questions about pandemic decisions, origins, and funding.
The contempt referral is already heading toward the Justice Department. Sen. Rand Paul has argued the Biden preemptive pardon removed any legitimate basis for the Fifth Amendment claims, leaving Fauci with no shield against answering.
While Fauci ducks the Senate, a separate bombshell landed from inside the media machine that once amplified him.
Former ABC News senior national correspondent Terry Moran, speaking on The Fifth Column podcast, described what happened to his early 2021 Nightline investigation into the COVID lab-leak theory.
Moran said the piece examined evidence that the Wuhan Institute of Virology had received Chinese military funding – something the lab’s “Bat Lady” Shi Zhengli had denied. He and his team laid out the arguments.
Then the review hit.
“The day it was supposed to air, it gets ‘reviewed.’ It comes back to me…I was told: FAUCI,” Moran stated.
He added that he was “absolutely livid,” cursing in the booth as the final product arrived “incomprehensible,” loaded with caveats and legalized language that stripped the original work of meaning.
“I’ve never watched that story [again] and I never want to. Because it wasn’t mine, and most importantly, because it was incomprehensible.”
He was told the script had gone to lawyers, standards – and Fauci.
This was not a conservative activist speaking. Moran is a longtime network journalist. His account directly undercuts years of media insistence that questions about the lab were fringe conspiracy theories while Fauci and allies worked to shut them down.
These latest refusals and revelations sit atop a mountain of prior evidence already documented.
Secret texts recovered from Fauci’s government iPhone showed him privately warning in January 2021 that the second COVID vaccine dose “theoretically could be associated with miscarriage in the 1st trimester” because of cytokine storms and fever. Publicly, he and other officials pushed the shots for pregnant women with no such caveats.https://modernity.news/2026/08/10/faucis-secret-texts-reveal-shock-admission/embed/
Emails previously released by Sen. Rand Paul showed Fauci instructing then-NIH Director Francis Collins to “read it, then destroy it” – language Paul has called a violation of federal records law.https://modernity.news/2026/07/27/rand-paul-emails-show-fauci-told-nih-director-read-it-then-destroy-it/embed/
At the July 29 hearing itself, Fauci offered an opening statement accusing Paul of an “unhinged obsession,” then refused nearly every substantive question.https://modernity.news/2026/07/29/watch-fauci-dragged-and-destroyed-during-senate-hearing/embed/
CNN legal analysts noted that the 112 Fifth Amendment pleas likely made his position worse, given the pardon removed criminal jeopardy and left him exposed to contempt.https://modernity.news/2026/07/30/cnn-legal-analyst-faucis-112-fifth-amendment-pleas-made-things-worse/embed/
The American people watched schools shuttered, businesses destroyed, and dissent crushed while the same officials privately fretted about risks they would not acknowledge publicly.
Now the central figure in that response continues to refuse basic questions under oath or in transcribed interviews, and a network reporter has confirmed that even internal journalistic work was routed through him for approval.
Johnson’s subcommittee says it will keep pursuing records and other witnesses. The contempt referral sits with the Justice Department. The lab-leak story that was sanitized in 2021 is no longer radioactive. Accountability is no longer optional.
Fauci had years of unmatched power and media deference. That time is over.
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
END
WOW!!
British Medical Journal Retracts Paper Linking COVID Shots To Millions Of Excess Deaths
Monday, Aug 17, 2026 – 05:00 AM
Authored by Steve Watson via Modernity News,
A peer-reviewed study documenting millions of excess deaths across the West after the rollout of COVID measures and shots has been yanked by the British Medical Journal – not for bad data, but for the crime of asking inconvenient questions.
The BMJ Public Health journal has formally retracted a 2024 paper that tracked more than three million excess deaths in 47 Western countries between 2020 and 2022.
The study, which used official “Our World in Data” figures, noted that excess mortality remained stubbornly high even after containment measures and mass vaccination. Its authors called for proper investigation into the causes.
The retraction notice cited “misinformation in the discussion regarding the possible causes of excess mortality” and claimed the limited original work by the authors was not sufficiently described.
An institutional probe by the Princess Máxima Center, where three of the four authors worked, found no fabrication, falsification, or malicious intent. It still complained the paper gave “disproportionate attention” to the possibility that containment measures and vaccination might have contributed.
Lead author Dr Saskia Mostert has described the reaction that followed publication as “blind and irrational fury.” She later resigned from the center and testified before a U.S. Senate subcommittee about the professional cost of raising the data.https://www.youtube.com/embed/VfR6Yry165c
Three independent Dutch experts have now written to the BMJ editorial board calling the decision “disproportional.” They warned it “raises serious questions about the extent to which political considerations played a part in your decision” and “sets a terrible precedent in these times of increasing political pressure on scientists.”
Professor Ronald Meester of Vrije University Amsterdam put it bluntly: there is “no scientific reason to retract.” “Retraction is bizarre in this case, there is nothing actually wrong with the paper. Hence the real reason must be political. Very sad, really, for science. I do not see how we can take science seriously anymore when editors are willing to make decisions for these kinds of reasons.”
The paper never claimed vaccines were the sole cause. It simply observed that excess deaths persisted “despite the implementation of containment measures and COVID-19 vaccines” and urged governments to investigate thoroughly. That was enough to trigger years of institutional pushback, an expression of concern, and finally full retraction more than two years later.
This pattern of shutting down scrutiny is not isolated. Just days earlier, reports emerged of eight babies born with the same rare, life-threatening congenital diaphragmatic hernia in a single hospital’s neonatal ICU after maternal COVID shots – odds calculated at one in ten trillion.
Obstetrician Dr James Thorp has documented sharp rises in fetal malformations, placental abnormalities, thrombotic events, and neonatal intensive care admissions following the shots.https://modernity.news/2026/08/12/doctor-8-babies-born-with-same-rare-defect-in-one-hospital-after-covid-shots-odds-were-1-in-10-trillion/embed/
Private texts from Anthony Fauci have already revealed he acknowledged the second dose “theoretically could be associated with miscarriage in the 1st trimester” even while public messaging insisted otherwise.https://modernity.news/2026/08/10/faucis-secret-texts-reveal-shock-admission/embed/
Pfizer’s own history includes a 2013 DARPA contract under the ADEPT program to develop antibody platforms against emerging pathogens – the same technological ecosystem that later delivered the mRNA shots.https://modernity.news/2026/08/11/pfizer-received-a-darpa-contract-in-2013/embed/
Independent microscopy of Pfizer vials has repeatedly shown self-assembling, microchip-like, and parasite-like nanotech structures that form elaborate hierarchies under observation.https://modernity.news/2026/06/25/microchip-like-parasite-like-and-self-assembling-nanotech-structures-found-inside-pfizer-covid-19-vaccine/embed/
Meanwhile, new analysis shows the majority of published SARS-CoV-2 genomes were riddled with systematic computer reconstruction errors that fabricated the virus’s evolutionary history and transmission patterns.https://modernity.news/2026/08/15/most-covid-genomes-were-full-of-computer-errors-that-faked-the-viruss-evolution/embed/
Taken together, the picture is one of institutional reflex: any research that documents ongoing excess mortality, birth defects, private admissions of risk, military-adjacent contracts, anomalous vaccine contents, or foundational data errors is met with retraction, investigation, or professional exile.
The BMJ’s move, coming after the paper had already survived nine months of peer review and been accepted for publication, underscores how quickly “scientific consensus” becomes a political enforcement mechanism when the official narrative is challenged.
Science that cannot tolerate questions about three million excess deaths is no longer science. It is public-relations management with a peer-review stamp.
The real damage is not to one paper. It is to the public’s ability to demand answers when the bodies keep piling up.
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
END
GLOBAL ISSUES
MARK CRISPIN MILLER
Christopher Lambert (Highlander) collapses at Comic-Con; BE: singer Isabelle A cancels shows; NE: rocker Adrian Vandenberg cancels US tour; BA: President Mohammed Shahabuddin steps down
T&T: pol Karen Nunez-Tesheira collapses on live TV; BR: pol Danilo Forte misses party convention (heart surgery); AU: ABC radio’s John Gibbs steps away from broadcasting
| Mark Crispin MillerAug 16 |  |
Cancelations
UNITED STATES
‘Highlander’ star Christopher Lambert, 69, collapses at Pittsburgh Comic-Con
August 9, 2026
“Highlander” actor Christopher Lambert suffered a medical emergency while attending the Steel City Comic-Con in Pittsburgh. At the annual convention on Saturday, the French actor, 69, was signing autographs for fans when he “suddenly collapsed,” a witness told TMZ. Lambert was then placed in an ambulance and transported to a local hospital. The Steel City Con also released a statement about the incident, saying Lambert “had to leave the event due to a personal issue.”
News from Underground by Mark Crispin Miller is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
TRINIDAD AND TOBAGO
Karen Nunez-Tesheira recovering after medical emergency on live TV
July 10, 2026
Former finance minister T&[69] is recovering after suffering a medical emergency while appearing live on television yesterday morning. Nunez-Tesheira was a guest on Conversations with Zelisa on Real TV when the incident occurred at the station’s San Juan studios shortly after 10.20 am. Host, executive producer of Conversations with Zelisa and Real TV CEO Zelisa Boodoosingh had just asked Nunez-Tesheira about her role as a woman in Parliament. When Nunez-Tesheira began responding, she fell silent and slumped back in her chair. Boodoosingh immediately called for a commercial break as staff rushed to assist. Speaking with Guardian Media, Boodoosingh confirmed the incident and said her initial concern was that Nunez-Tesheira had suffered a stroke. “I asked the question and she kind of just fell back. My first thought was that she was having a stroke. I immediately said, ‘Let’s take a break,’ and we called an ambulance,” Boodoosingh said. She said Nunez-Tesheira was initially unresponsive before emergency medical personnel arrived. She was taken by ambulance to the Eric Williams Medical Sciences Complex at Mt Hope. Boodoosingh said she accompanied Nunez-Tesheira to the hospital, where doctors later confirmed that she had suffered a heart attack. She said Nunez-Tesheira is now responsive and receiving treatment. Her condition has stabilised and she is expected to recover.
BRAZIL
Congressman Danilo Forte suffers heart attack, undergoes surgery, and misses party convention
July 26, 2026
Federal Deputy Danilo Forte (PP-CE) suffered a heart attack last Thursday, the 23rd, and underwent surgery to have a stent placed in Fortaleza, Ceará. Following medical advice, the politician will not attend the party convention taking place this Sunday, the 26th. The congressman’s condition is stable, and he continues to recover alongside his family, following his doctor’s instructions. He will be represented at the event by his son, David Paes Forte, who has been appointed his proxy for formal proceedings.
No age reported.
BELGIUM
Isabelle A has breast cancer and cancels performances
July 30, 2026
Isabelle A (51) has breast cancer and will not be performing for some time. She intends to take the necessary time and space to recover and explicitly asks that her peace and privacy be respected. Isabelle A was one of the 20 nominees for VRT Zomerhit; the music competition will continue with 19 nominees. “Isabelle A was diagnosed with breast cancer in late July. Consequently, we are forced to cancel upcoming performances,” reads the statement on the Facebook page of Isabelle A (real name: Isabelle Adam). “She is out of action for a while and is taking the necessary time and space to recover. We ask everyone to allow Isabelle the peace she needs to recover. In particular, we ask the press and media to respect the privacy of Isabelle and her family and friends.”
NETHERLANDS
Iconic ‘80s Rocker Cancels 2026 Tour
July 31, 2026
A long-awaited celebration of one of hard rock’s biggest eras will have to wait. Adrian Vandenberg [72] announced on July 31 that he has canceled his upcoming 2026 U.S. tour while receiving treatment for a bacterial infection. In a personal statement, the former Whitesnake guitarist revealed that he is currently in the hospital and was strongly urged by medical specialists not to proceed with the tour. Vandenberg said the infection needs immediate attention, though he assured fans that “things are fortunately moving in the right direction.” He also noted that this is the first time he has canceled a show or tour in his roughly 60-year career as a performing guitarist. Although Vandenberg has not provided a timeline for his return, he ended his update with a hopeful message to fans: “See you guys soon!”
BANGLADESH
Bangladesh President Mohammed Shahabuddin Resigns Citing Health Issues
July 24, 2026
Bangladesh President Mohammed Shahabuddin, a former ally of ousted Prime Minister Sheikh Hasina, has resigned citing serious health issues, his office said on Friday. Shahabuddin, 76, has held the largely ceremonial post of president since April 2023, a period that included volatile months after Hasina’s flight to India following a student-led uprising against her rule in 2024. “Recent medical examinations have diagnosed me with a condition known as Autonomic Neuropathy. Due to this condition, I occasionally experience momentary loss of consciousness,” Shahabuddin said in a statement released by his press secretary.
AUSTRALIA
ABC radio personality and former Manly Sea Eagle John Gibbs diagnosed with cancer
August 3, 2026
Former Manly-Warringah Sea Eagles halfback and ABC Sport rugby league commentator John Gibbs has been diagnosed with cancer. Gibbs, 70, has been part of the ABC Sport team since 2016 and has been a popular personality among listeners. He was on the ABC Sport call with Andrew Moore and Matthew Elliott on Sunday afternoon when the Parramatta Eels defeated Wests Tigers. “Gibbsy”, who played 81 first grade games for the Sea Eagles and represented New South Wales and Australia, announced his diagnosis on Monday, and that he would be stepping away from broadcasting to focus on his health.
DR PAUL ALEXANDER.
RABOBANK/MICHAEL EVERY/OR OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS
7. OIL AND NATURAL GAS/ENERGY COMMENTARIES
RUSSIA
Russia Admits Renewed Petrol Shortages After Recently Claiming Situation Was Stabilized
Friday, Aug 14, 2026 – 08:30 PM
Russia has shut down one major refinery at Orsk, around 800 miles from the front line, for six months after it came under drone attack this week. It has also suffered more terminal outages due to continued attacks on a vital Black Sea energy port.
“Crude oil exports from Russia’s Sheskharis terminal at the Black Sea port of Novorossiysk were suspended on Friday following a drone attack, three sources familiar with the matter said, adding to disruptions at one of the country’s key export outlets,” Reuters reports.
In a rare moment, the Russian government acknowledged that some regions of the country face new petrol shortages. “The situation remains tense in several regions of the country regarding fuel supplies to service stations,” the government newly confirmed in a Friday social media post.
Oil companies are “taking the necessary measures to increase deliveries to the most vulnerable regions,” the official and somewhat rare statement added.
Krasnodar Oblast regional governor Venyamin Kondratyev separately stated, “The situation regarding petrol supplies at service stations has become complicated.”
Oil companies “have again started imposing restrictions on the amount of fuel supplied and reduced service station opening hours,” he continue.
“This is causing concern among the region’s residents and visitors,” the governor added, describing that he’s urging external help to rush fuel supplies to the region.
Clear signs of the renewed crisis began emerging this week, including extremely long lines at fuel pumps. According to eyewitness accounts in one regional source:
Gas stations in at least 12 Russian regions are once again reporting hours-long lines for fuel, according to a count by the news outlet 7×7. The regions include Krasnodar Krai, the Voronezh, Kaluga, Rostov, Ryazan, Tambov, Tula, Saratov, Smolensk, Penza, and Ulyanovsk regions, as well as Primorsky Krai.
Purchase limits have also returned. The Sochi city administration announced August 11 that gas stations in the region had imposed limits “due to logistical disruptions in fuel supply,” and it asked local residents and tourists to “refrain from using personal vehicles whenever possible” to ease the strain on gas stations.
In the Orenburg region, Governor Yevgeny Solntsev reported a “difficult situation with fuel.” Starting August 12, gas stations there capped purchases at 30 liters (about 8 gallons) of gasoline and 60 liters (about 16 gallons) of diesel and adopted an “odd-even” system: drivers with license plates ending in an even digit can fill up on even-numbered days, while everyone else fills up on odd-numbered days. Solntsev also promised to bring in police officers “to coordinate the situation at gas stations.”
It was only two weeks ago that Kremlin officials declared that the crisis – which was very evident earlier this summer especially in Crimea – was abating and that supplies were headed back toward being fully operational.
Reports that shortages have even hit remote Arkhangelsk…
Russia’s Deputy Prime Minister Alexander Novak had said at the end of July, “The situation is gradually stabilizing, a number of oil refineries became operational again. The balance is better now, and the situation at fuel filling stations has considerably improved, including when it comes to supplying agricultural producers,” Interfax quoted him as saying.
But that assessment now appears to have been premature, also as Ukrainian long-range drone strikes continue pounding vital Russian energy sites.
END
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES
U.S./GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS MONDAY 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: 1.1595 UP 0.0027
USA/ YEN 159.18 DOWN 0.111 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 1.3549 UP 0.0028 OR 28 BASIS PTS
USA/CAN DOLLAR: 1.3857 DOWN 0.0012 //CDN DOLLAR UP 12 BASIS PTS//
Last night Shanghai COMPOSITE CLOSED UP 55.48 PTS OR 1.41%
Hang Seng CLOSED UP 336.38 PTS OR 1.34%
AUSTRALIA CLOSED DOWN 0.34%
// EUROPEAN BOURSE: ALL MIXED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MIXED
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 336.38 PTS OR 1.34%
/SHANGHAI CLOSED UP 55.48 PTS OR 1.41%
AUSTRALIA BOURSE CLOSED DOWN .34%
(Nikkei (Japan) CLOSED UP 336.38 PTS OR 1.34%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: $4393..00
silver:$65.48
USA DOLLAR VS TRY (TURKISH LIRA): 47.80 UP 2 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: 85.46 ROUBLE// DOWN 1 ROUBLE AND 21 BASIS PTS.
UK 10 YR BOND YIELD: 5.0225 DOWN 2 BASIS PTS
UK 30 YR BOND YIELD: 5.7756 DOWN 2 BASIS PTS
CDN 10 YR BOND YIELD: 3.678DOWN 1 BASIS PTS
CDN 5 YR BOND YIELD; 3.275 DOWN 1 BASIS PTS
USA dollar index early MONDAY MORNING: 99.32 DOWN 34 BASIS POINTS FROM FRIDAY’s CLOSE
MONDAY MORNING NUMBERS ENDS
And now your closing MONDAY NUMBERS 10.00 AM
Portuguese 10 year bond yield: 3.547% UP 4 in basis point(s) yield
JAPANESE BOND 10 yr YIELD: +2.925% UP 5 FULL POINTS BASIS POINTS /JAPAN losing control of its yield curve/
JAPAN 30 YR: 4.079 UP 7 BASIS PTS//
SPANISH 10 YR BOND YIELD: 3.650 UP 4 in basis points yield
ITALY 10 YR BOND: 4008 UP 4 points in basis points yield ./
GERMAN 10 YR BOND YIELD: 3.2120 UP 5 BASIS PTS
IMPORTANT CURRENCY CLOSES : MID DAY MONDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/10:00 AM
Euro/USA 1.1591 UP 0.0023 OR 23 basis points
USA/Japan: 159.27 DOWN 0.021 OR YEN IS DOWN 2 BASIS PTS// HIGHLY INFLATIONARY TO JAPAN
Great Britain 10 YR RATE 5.0445 UP 2 BASIS POINTS //
GREAT BRITAIN 30 YR BOND; 5.7930 UP 6 BASIS POINTS.
Canadian dollar UP 13 BASIS pts to 1.3856
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The USA/Yuan CNY 6.7397 ON SHORE ..UP
THE USA/YUAN OFFSHORE// CNH UP TO 6.7416
TURKISH LIRA: 47.90 UP 1 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
Your closing 10 yr US bond yield UP 2 in basis points from FRIDAY at 4.710% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 5.242 UP 2 basis points /10:00 AM
USA 2 YR BOND YIELD: 4.177 UP 2 BASIS PTS.
GOLD AT 10;00 AM 4382.50
SILVER AT 10;00: 65.35
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates MONDAY
DAY CLOSING TIME 10:00 AM///
London: CLOSED DOWN 29.81 PTS OR 0.28%
GERMAN DAX: CLOSED DOWN 191.70 PTS OR 0.38%
FRANCE: DOWN 57.20 OR 0.66 PTS
Spain IBEX CLOSED DOWN 174.70 PTS OR 0.87%
Italian MIB: CLOSED UP 3.37 PTS OR 0.01%
WTI Oil price 82.79 10.00 EST/
Brent Oil: 89.11 10:00 EST
USA /RUSSIAN ROUBLE /// AT: 85.01 ROUBLE DOWN 0 AND 76/ 100
CDN 10 YEAR RATE: 3.7190 UP 1 BASIS PTS.
CDN 5 YEAR RATE: 3.320 UP 1 BASIS PTS
CLOSING NUMBERS: 4 PM//
Euro vs USA 1.1579 UP 0.0010 OR 10 BASIS POINTS//
British Pound: 1.3542 UP 0.0012 OR 12 basis pts/
BRITISH 10 YR GILT BOND YIELD: 5.0646 UP 2 FULL BASIS PTS//
BRITISH 30 YR BOND YIELD: 5.835 UP 5 IN BASIS PTS.
JAPAN 10 YR YIELD: 2.923 UP 5 FULL BASIS PTS (DANGEROUS TO THEIR ECONOMY
JAPANESE 30 YR BOND: 4.015 UP 2 PTS AND STILL VERY DANGEROUS TO THEIR ECONOMY
USA dollar vs Japanese Yen: 159.44 UP 0.147 OR YEN DOWN 15 BASIS PTS//GETTING FURTHER AWAY FROM 160.00/ EXTREMELY DANGEROUS
USA dollar vs Canadian dollar: 1.3873 UP 0.0003 PTS// CDN DOLLAR DOWN 3 BASIS PTS
West Texas intermediate oil: 84.44
Brent OIL: 90.65
USA 10 yr bond yield UP 3 BASIS pts to 4.7210
USA 30 yr bond yield: UP 5 PTS to 5.309%
USA 2 YR BOND 4.177 UP 1 PTS
CDN 10 YR RATE 3.718 UP 6 BASIS PTS
CDN 5 YEAR RATE: 3.309 UP 2 BASIS PTS
USA dollar index: 99.47 DOWN 8 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 47.90 UP 1 BASIS PTS GETTING QUITE CLOSE TO BLOWING UP/IDIOTS SOLD GOLD
USA DOLLAR VS RUSSIA//// ROUBLE: 84.95 UP 0 AND 75/100 roubles //
GOLD $4,315.60 3:30 PM)
SILVER: 65.87 3;30 PM)
DOW JONES INDUSTRIAL AVERAGE: DOWN 272.63 POINTS OR 0.51%
NASDAQ 100 DOWN 50.76 PTS OR 0.17%
VOLATILITY INDEX 15.22 DOWN 0.97 PTS OR 6.81%
GLD: $ 405.49 UP 4.01 PTS OR 1.00%
SLV/ 59.56 PTS UP 1.08 OR 1.85%
TORONTO STOCK INDEX// TSX INDEX: CLOSED DOWN 60.11 PTS OR 0.16%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING
‘Crude & Crypto Rip, Stocks Dip, Yield Curve & Gold Scream ‘Policy Error’
‘
WRAP UP
Stocks slip as yields track oil move higher on US-Iran stalemate – Newsquawk US Market Wrap
Monday, Aug 17, 2026 – 03:50 PM
- SNAPSHOT: Equities down, Treasuries down, Crude up, Dollar down, Gold up
- REAR VIEW: Senior Iranian official said Iran has decided to shift its policy from defensive to a ‘fully offensive’ one and has set a deadline of a few weeks for implementation of MoU by US; IRGC rejects Trump’s claim about behind-the-scenes talks; Iran said that there are ongoing contacts with Qatar; Hotter-than-expected Canadian CPI; GOOGL seeks $3.6B in first Australian bond sale; NVDA credit support capped at USD 105B for SB Energy data centre in Ohio that OpenAI will use.
- COMING UP: Data: Australian Westpac Consumer Confidence Change (Aug), UK Jobs Report (Jun), Average Earnings (Jun), EU/German ZEW Economic Sentiment Index (Aug), US ADP Employment Change Weekly, Import/Export Prices (Jul), Housing Starts (Jul), Industrial/Manufacturing Production (Jul), Atlanta Fed GDP (Q3). Speakers: ECB’s Lane. Supply: Japan, UK. Earnings: Home Depot, Baidu.
- WEEK IN FOCUS: FOMC Minutes, Global Flash PMIs, UK Jobs, Inflation from Japan, Canada and UK. Click here for the full report.
- WEEKLY US EARNINGS ESTIMATES: Retailers take focus with highlights including WMT, HD, TGT & LOW. Click here for the full report.
More Newsquawk in 2 steps:
- 1. Subscribe to the free premarket movers reports
- 2. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
MARKET WRAP
US indices ended the first session of the week in the red as US-Iran newsflow dominated the tape, in otherwise a light session of headlines in typical summer trading conditions. Recapping, sources said the 60-day period between Iran and the US has been extended, while a Senior Iranian official said Iran has decided to shift its policy from defensive to a ‘fully offensive’ one, and Trump stated there are ongoing back channels with the IRGC, which the IRGC denied. As such, slight risk-off price action was seen, as Treasuries weakened and oil gained, settling at highs. Given this, sectors were exclusively in the red, aside from Energy, with Communication Services and Consumer Staples the laggards; there was no tier 1 US data or Fed speak, as earnings season begins to wind down. Despite saying that, it is the retailers this week, with Home Depot (HD) the highlight tomorrow. On the stock specific front, there was little new, but the memory ETF DRAM and memory names rallied once again, helped by US Commerce Secretary Lutnick noting the Trump administration opposes Apple (AAPL) using Chinese memory chips. Once again, the calendar for scheduled risk events this week is light, with FOMC Minutes on Wednesday the highlight.
NY FED
NY FED MANUFACTURING: The Empire State Manufacturing Index rose to 20.6 in August (exp. 11.0, prev. 15.6), its highest level in more than four years and signalling a further strengthening in New York manufacturing activity. Under the hood, New Orders remained solid at 17.3 (prev. 22.2) and Shipments at 11.7 (prev. 24.4), despite both easing from July, while Unfilled Orders jumped to 15.5 (prev. 5.0). Supply-chain pressures remained notable, with Delivery Times rising to 20.6 (prev. 13.0), Supply Availability deteriorating to -13.4 (prev. -10.0), and Inventories falling to -5.2 (prev. 4.0). On inflation, Prices Paid increased to 58.6 (prev. 52.3), pointing to firmer input-cost pressures, although Prices Received eased for a second consecutive month to 22.7 (prev. 27.6). Labour indicators remained positive, with Employment at 9.3 (prev. 11.4) and the Average Workweek rising to 6.9 (prev. 2.8). Looking ahead, firms remained optimistic, with Future Business Conditions rising to 32.1 (prev. 27.9), alongside stronger expectations for new orders, shipments and notably employment. However, firms expect supply availability to deteriorate further and price pressures to remain elevated. Pantheon Macroeconomics described the manufacturing upturn as still intact but noted that supply-chain pressures remain intense.
FIXED INCOME
T-NOTE FUTURES (U6) SETTLED 4 TICKS LOWER AT 108-14+
Yield curve steepens in quiet trade as attention turns to FOMC Minutes. At settlement, 2-year +1.3bps at 4.184%, 3-year +0.8bps at 4.255%, 5-year +1.6bps at 4.378%, 7-year +2.1bps at 4.537%, 10-year +3.2bps at 4.724%, 20-year +5.0bps at 5.307%, 30-year +5.0bps at 5.311%.
THE DAY: The Treasury curve steepened on Monday in relatively quiet trade, with the move led by the long end. The 30-year yield broke above 5.300%, moving above the peaks seen following the July FOMC, when Chair Warsh’s avoidance of forward guidance and apparent comfort with tighter financial conditions helping the Fed achieve its goals triggered a pronounced steepening of the curve.
The highlight this week will be the FOMC Minutes on Wednesday, where attention will be on whether the preference for tighter policy extended beyond the three dissenters and whether other participants saw a case for a July hike. However, markets may ultimately look through the minutes given their backward-looking nature, particularly as they will not capture the subsequent softer inflation and employment data that have seen participants pare Fed rate hike expectations.
Oil prices settled higher amid mixed geopolitical messaging. President Trump told Fox that the US is in contact with the IRGC through back channels, although Iran subsequently pushed back on the claim. Reports also suggested that a 60-day extension of the US-Iran ceasefire has been reached, although at the time of writing there has been no confirmation from either the US or Iran. Meanwhile, Trump threatened military action against Oman if it obstructs efforts to reopen the Strait of Hormuz.
SUPPLY
Notes/Bonds
- US to sell USD 16bln of 20-year bonds on August 19th and USD 8bln of 30-year TIPS on August 20th; all to settle August 31st Bills
- US to sell USD 95bln of 6-week bills on August 18th on August 18th, USD 92bln of 13-week bills and USD 79bln of 26-week bills on August 17th; all to settle August 20th.
STIRS / OPERATIONS
- Fed Hike Pricing via CME Fed Watch: Sept 8.2bps (prev. 8.2bps), Dec 22.1bps (prev 24.2bps).
- EFFR at 3.63% (prev. 3.63%), volumes at USD 99bln (prev. USD 106bln) on August 14th
- SOFR at 3.62% (prev. 3.62%), volumes at USD 2.957tln (prev. USD 2.932tln) on August 14th
- NY Fed RRP op demand at 0.45bln (prev. 0.725bln) across 1 counterparties (prev. 1) on August 13th
CRUDE
WTI (U6) SETTLED USD 2.10 HIGHER AT USD 84.50/BBL; BRENT (V6) SETTLED USD 2.35 HIGHER AT USD 90.87/BBL
The crude complex settled around highs as benchmarks ground higher through the duration of the US afternoon. Newsflow has been pretty quiet, but a couple of US/Iran headlines have been the highlight; Al-Arabiya sources said the 60-day period between Iran and the US has been extended, while a Senior Iranian official said Iran has decided to shift its policy from defensive to a ‘fully offensive’ one. Meanwhile, Trump stated there are ongoing back channels with the IRGC, but the IRGC denied this. Furthermore, Fars reports the seizure of a violating UAE oil tanker in the Strait of Hormuz. On the more constructive side, Iran said there are ongoing contacts with Qatar on de-escalatory efforts whilst talks are ongoing with Oman regarding an agreement over shipping through the Strait of Hormuz. For the record, WTI traded between USD 81.50-84.88/bbl and Brent USD 88.01-91.21/bbl.
EQUITIES
CLOSES: SPX -0.52% at 7,745, NDX -0.17% at 29,995, DJI -0.51% at 53,465, RUT -0.35% at 3,058
SECTORS: Communication services -1.47%, Consumer staples -1.46%, Financials -1.04%, Consumer discretionary -1.03%, Real estate -0.89%, Materials -0.5%, Utilities -0.38%, Health -0.21%, Industrials -0.16%, Technology -0.16%, Energy +0.87%
EUROPEAN CLOSES: Euro Stoxx 50 -0.19% at 6,527, Dax 40 -0.27% at 26,370, FTSE 100 -0.28% at 10,720, CAC 40 -0.66% at 8,580, FTSE MIB +0.01% at 53,587, IBEX 35 -0.87% at 19,982, PSI -0.38% at 9,220, SMI -0.61% at 14,302, AEX -0.27% at 1,115
STOCKS SPECIFICS:
- Alibaba (BABA) selling its Gaming unit for at least USD 1.5bln to fund its AI push.
- Diana Shipping (DSX) withdrew its offer to acquire Genco (GNK), citing demands from the Genco board it deemed unrealistic.
- Nvidia (NVDA) & OpenAI are nearing a deal to finance a large-scale data centre campus in Ohio.
- IRS investigating UnitedHealth (UNH) over alleged underpayment of taxes between 2017-20 via a foreign subsidiary.
- Mobileye (MBLY) was upgraded at Berenberg to Buy from Hold.
- US Commerce Secretary Lutnick said the Trump administration opposes Apple (AAPL) using Chinese memory chips.
- Nvidia (NVDA) will be the exclusive AI compute infrastructure provider for SB Energy’s PORTS-Pike data centre campus in Ohio; Nvidia will provide credit support for the “land, power and shell” capped at USD 105bln for SB Energy data centre in Ohio.
- Shopify (SHOP) was downgraded at Phillip Secs to ‘Accumulate’ from ‘Buy’.
- US Navy awards RTX (RTX) USD 22.9bln contract to boost output of Tomahawk missile.
FX
USD was little changed, with trading ranges quiet to start the week. Updates were centred around geopolitics, which resulted in higher crude prices. The main takeaway was a senior Iranian official speaking to Reuters, noting that they are moving policy to the offensive, now shifting towards making their own deadlines, leaving a few weeks for the implementation of the MoU by the US. Ahead this week, focus will also be on the FOMC Minutes taken from the 9-3 hold meeting in July.
AUD, NZD, and CHF strengthened vs USD to start the week; meanwhile, JPY was slightly weaker as rising US yields amid upward inflationary risks pressured the carry trade, leaving USD/JPY firmer at 159.52.
USD/CAD saw a muted reaction towards the slightly hotter-than-expected Canada CPI report. In July, Headline Y/Y rose 3.0% (exp. 2.9%), 0.5% M/M (exp. 0.4%), with the BoC CPI Averages rising 2.2% Y/Y (prev. 2.1%). USD/CAD is currently flat around 1.3875.
USA DATA RELEASES/
USA ECONOMIC REPORTS
Patriots Won’t Let Communists Take America
Friday, Aug 14, 2026 – 08:05 PM
Authored by J.B. Shurk via American Thinker,
Meet at the Liberty Tree…
This chapter in American history could be titled, “The Bad Guys Keep Winning Because They Suffer No Consequences for Their Treachery.”
Islamo-fascists and communists have taken over the Democrat Party and threaten to take over the U.S. Congress.
Neither Barack Obama nor Hillary Clinton has been brought to justice for conspiring with parts of the Intelligence Community to frame President Trump as a Russian spy. The same Ukrainian and British Intelligence agents who helped orchestrate the first ridiculous impeachment against Trump (ostensibly set in motion because the president asked Volodymyr Zelenskyy why Joe Biden’s son was making tens of thousands of dollars each month as a board member of a Ukrainian energy company) continue trying to instigate an all-out war between the Russian Federation and the United States. The mainstream media and globalist politicians want us all to forget that they used COVID as an excuse to roll out totalitarianism around the planet — justifying widespread censorship, lockdowns, mass surveillance, deadly chemical injections, and the abrogation of God-given rights in the name of “public health.” Our scientific institutions refuse to say clearly that COVID was most likely engineered in a Chinese bio-lab with funding from U.S. taxpayers that Dr. Anthony Fauci had redirected to assist his friends and business associates overseas. Nobody has been prosecuted for any of these crimes, just as nobody was prosecuted when President Barack Obama and Attorney General Eric Holder used the ATF to arm Mexican drug cartels, the IRS to target conservatives, and the USA PATRIOT Act to spy on political enemies (including all of the Republican presidential candidates for the 2016 election).
During the Obama and Biden administrations, Christians were prosecuted for being faithful servants of Christ. Parents were put on domestic terror watchlists for objecting to radical infusions of “transgenderism,” pornography, and race-based discrimination in their children’s public school curricula. The Democrat Party nationalized healthcare, used USAID budgets to subvert foreign elections, and redirected trillions of taxpayer dollars into “climate change” slush funds for domestic and foreign political allies. The Obama-Biden regime defamed police officers as inherently racist and disparaged all white Americans as inherently “privileged.” Decades of solid improvement in race relations in the United States were thrown out the window, as Democrats told their voters that white, heterosexual males deserve to be vilified and attacked. For fifteen years, Antifa goons, BLM rioters, Islamic supremacists, and other violent left-wingers have burned down neighborhoods, destroyed churches, looted businesses, terrorized motorists, and harassed, threatened, and murdered ideological adversaries. Instead of reporting on years of leftist domestic terrorism, corporate news talking heads still pretend that President Trump’s MAGA voters are the biggest threat to the United States.
It is easy to list the long train of abuses that have been committed against us and lose hope for the future. Particularly because nobody has been held accountable for any of the serious crimes listed above, a lot of American patriots have begun to wonder whether our country can even be saved. It can be saved. But doing so will require Americans to get their minds right about the struggles ahead.
I often ask American patriots who express premature defeat whether they would give up so easily if this were 1776, rather than 2026. My point is two-fold: First, we are most definitely living through a critical period of American history when, just as was true during the time of our Founding Fathers, the fate of our country rests in our hands. Second, the odds that we shall succeed in saving America today are at least as high as they were two-hundred-fifty years ago.
Sometimes the people who are most proud of America’s past accomplishments are too quick to throw in the towel when it comes to America’s future. But the origin story of the United States is epic because it was so unlikely. The Boston Massacre was in 1770. The Boston Tea Party occurred three years later. By the time the Second Continental Congress declared Independence from Great Britain in ’76, American colonists were still sharply divided over the merits of war. The Revolutionary War continued until ’83. The Articles of Confederation, ratified in ’81, was superseded by ’89. When the Founders drafted the U.S. Constitution, they effectively tabled the peculiar institution of slavery, knowing that the issue would collapse the Union. During the 1790s, the heavily indebted United States endured severe economic troubles, and many members of Great Britain’s Parliament expected to reacquire their former colonies just as soon as interstate squabbles and economic calamity doomed the young nation. When the British captured and burned much of Washington, D.C., in 1814, they nearly succeeded.
When Sam Adams and the Sons of Liberty began meeting at the Green Dragon Tavern in 1765, do you think they knew it would take fifty more years to secure America’s Independence for posterity? Do you think John Hancock, Paul Revere, or any of the Bostonians who met around the “Liberty Tree” would have cared? Their preserved correspondence to other patriots throughout the colonies reveals two things above all else: (1) They knew that they were the underdogs, and (2) they relished the fight. They leaned into their political and moral principles. They defended their convictions. They embraced righteous indignation. “[W]ith a firm reliance on the protection of divine Providence,” the signers of the Declaration of Independence “mutually pledge[d] to each other our Lives, our Fortunes, and our sacred Honor.”
Those extraordinary men risked absolutely everything to go up against the greatest empire in the world. Few outside of the American colonies believed they would prevail. A healthy contingent of British elites predicted that the colonies-turned-states would fight among themselves and dissolve the Union within a short number of years. Some Americans with Loyalist sympathies continued to expect a return of British rule until the conclusion of the War of 1812 seemed to finally put the matter to bed.
I do not expect today’s American patriots to become Nathan Hale, Patrick Henry, Caesar Rodney, or John Paul Jones. I do not expect Americans to step into the shoes of George Washington, Thomas Jefferson, or Benjamin Franklin. But I do expect Americans to respect their country’s past enough to remain confident, steady, and determined as we fight the battles to come. Because, frankly, the threats we face today pale by comparison to the threats that our ancestors were able to overcome. What one man can do, another can do. What one generation can accomplish, so can the next.
We humans have this psychological “glitch” when it comes to being the “underdog.” When we feel that the challenge before us is almost too great to be met, some of us become even more committed to prevailing. Once we’ve won, however, we begin to take our victories for granted. We start to assume that things were always meant to turn out the way they did. Yet, strangely, the first sign of trouble weakens our resolve. As soon as some other scrappy opponent starts banging down our door, we begin to worry that everything will be lost. We forget that we used to be the ones banging down doors.
What I would like to remind my friends is that we American patriots have an advantage that this militant generation of communists and Islamo-fascists will never have: This is our country, and there are tens of millions of us who will never allow enemies of freedom to conquer it. I don’t care how many “black-pill” pessimists scream, “The end is nigh.” They are wrong.
Our enemies took over the universities. They took over the Deep State. They see total victory within their sights. But they’ve never seen American patriots actually fight.
We are not sheep for the wolves to devour. We are the hunters who scare the wolves away.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge.
END
Americans Are Falling Into The Socialist Trap By Blaming Capitalism For Damages Of Statism
Monday, Aug 17, 2026 – 12:40 PM
Authored by Daniel Lacalle,
Americans are falling into the socialism trap by not realizing that solving big government problems with an even bigger one is dangerous. Many blame capitalism for their affordability problems, when the true cause is statism. Statism is the gradual replacement of civil society, markets, savings, and individual choice by political control, public spending, regulation, taxation, and monetary intervention. The predatory state that I discuss in my book The New Global Economic Order represents the extreme manifestation of statism. It is a system where the political class extracts wealth and freedom from families and businesses to sustain itself, reward dependent clients, and exert control over society.
Big government, high taxes, constant money printing, and cronyism are not free-market capitalism.
Socialism markets itself well because scholars and politicians always judge socialist policies on their headline intentions, not on its disastrous results. As such, socialism is the perfect ideology for elites. It offers moral superiority and compassionate rhetoric while making those it claims to defend poorer, more dependent, and less free. By the time people realize the promise was a trap, the state is already too large, too powerful, and uses repression on the same people it vowed to protect.
Big government, interventionism, money printing, and high taxes have obliterated the economy and demolished the opportunities for middle-class families and small businesses to thrive. More government, taxes, printing, and interventionism will only cripple it further.
If big government, large subsidies, high taxes, and political control of the economy were the answers to modern affordability challenges, France would not be in stagnation, social discontent, and suffering massive debt and deficit problems. Furthermore, there is no single example of an economy that has solved the affordability, inequality, and cost of living problems by imposing political control and monetary financing of government debt.
The public sector does not belong to “the public”; it is a taxpayer-funded architecture controlled and managed by politicians, who consistently demand more taxes and more spending to provide the same or lesser services. There is no such thing as nationalization; it is politicization.
Many young Americans have been taught to believe that their frustration with housing, low real wage progress, weak savings returns, and declining upward mobility proves that capitalism has failed. However, the evidence shows something very different. In most developed economies, and increasingly in the United States since 2008, the dominant force is not free-market capitalism but a model of big government, chronic deficit spending, high debt, rising taxes, monetary debasement, regulatory obstruction, and political interventionism that protects insiders while penalizing new entrants. That is why so many millionaires and wealthy people support socialism. It is the perfect way to eliminate a merit-based system, obliterate competition, and keep privileges provided by political affiliation while demanding even more government control. Cronyism is a direct consequence of statism and a step toward socialism.
Few people are richer and more powerful than socialist tyrants and their enablers. Meanwhile, socialism needs poor people that stay poor and remain submissive to the state. Socialism replaces success-driven inequality with a politically directed one. However, in statism inequality is a matter of price, not availability. Socialism leads to hyperinflation and scarcity because it ignores economic calculation and uses the debasement of currency to expropriate the wealth created by the remains of the private sector and keep citizens dependent and submissive, while the political leaders enjoy the perks of privilege. By eliminating the incentives to make money, thrive, and prosper, socialism delivers the opposite of what it promises. However, by the time people find out, they cannot escape.
This is why Americans are falling into the socialism trap when they should be blaming statism, not capitalism. Socialism is the perfect ideology for elites because it wraps coercion in moral vanity. It offers compassionate rhetoric and a posture of moral superiority while making the very people it claims to defend poorer, more dependent, and less free.
The cats promise free cheese to the mice who do not understand why it is “free.”
The trap works because it sounds compassionate.
The attraction of socialism is not that it works. It is that it looks virtuous. It is not. It promises security, fairness, dignity, and protection from the instability of the market. But by the time citizens realize that the promise was a trap, the state is already too large, too expensive, too interventionist, and too powerful to reverse easily.
The pattern of statism is evident across developed economies. The IMF projects general government expenditure in advanced economies at 40.7 percent of GDP in 2026, while the OECD reports average government expenditure across OECD countries at 49.3 percent for OECD EU members. In countries like France, government spending exceeds 57% of GDP. The result is stagnation, social discontent, and a rising cost of living while the so-called “free things” become very expensive in the long run. Having constantly deteriorated “free” services in exchange for rising taxes, unaffordable housing, and fewer opportunities is a very bad trade. These are not the figures of a minimalist system. They are the figures of political allocation on a massive scale.
If bigger government, higher taxes, and more intervention were the route to social justice, young people would be thriving, and socialist economies would be global leaders. Instead, they suffer inflated asset prices, unaffordable housing, diminishing value deposits, and worsening access to the middle class. This is not because markets are too free, but because governments are too dominant.
China and the Nordic countries are not proof that socialism works but evidence that when nations abandon socialist-controlled economic policies and implement what many in the West would call “unbridled capitalism,” it leads to growth and wealth.
The bad news is that the same big government fiscal model keeps expanding despite its failures. The IMF estimates that advanced economies ran an overall fiscal deficit of 4.4 percent of GDP in 2025 and projects 4.8 percent in 2026. Global gross public debt rose to 93.9 percent of GDP in 2025 and is projected to reach 100 percent by 2029, while public debt across many advanced economies remains historically high. Far from correcting past excesses, the political system continues to borrow against the future to preserve the privileges of the present. Thus, politicians that have become the new aristocrats blame millionaires and the wealthy for the current situation, when even when they confiscate rising percentages of all the wealth of the rich, the economy only worsens. This is the predatorial statism I mention in my work. Politicians absorb more of a nation’s wealth every year and then blame those who create wealth to promote envy, hate and dependency.
Monetary debasement bloated the state
This model has been sustained by central banks that repeatedly cushioned governments and sovereign debt from the consequences of excess spending and irresponsible fiscal policies. Cross-central-bank data show that the Federal Reserve’s balance sheet peaked at $8.97 trillion in April 2022, the Eurosystem at €8.84 trillion in June 2022, and the Bank of Japan at ¥764.8 trillion in August 2024, equivalent at their peaks to 34.5 percent, 64.2 percent, and 125.8 percent of GDP respectively. Even in 2026, those balance sheets remain extraordinarily large relative to national output.
That is not neutral technocracy. It is a mechanism that penalizes saving, subsidizes debt, weakens price discovery, inflates financial assets by disguising the risk of sovereign debt, and quietly creates a transfer of wealth from savers, workers, and wages to the overly indebted governments. When the state spends too much and the central bank disguises the consequences, citizens are told they are being protected. However, they are being impoverished through currency dilution and asset inflation.
Artificial money creation is never neutral. It disproportionately benefits governments and owners of assets that can protect themselves from monetary inflation. At the same time, it always hurts real wages, deposit savings, and those with no assets. Politicians try to tell you that they can make the effect neutral through taxation, government transfers, and expropriation. However, it is only a trick to make workers and small earners more dependent on a state that never fulfills the promise of easy money, because impoverishment does not change course; it accelerates.
Big government makes you poor and bigger government makes you poorer.
Socialism empowers elites, not citizens.
Socialism is often sold as a rebellion against privilege, but in practice it is one of the most effective tools ever designed to entrench it. The bigger the state, the more valuable political access becomes. The more interventionist the system, the easier it is for large incumbents, bureaucracies, and connected interests to dictate regulation, capture subsidies, suppress competition, and decide who receives favors.
That is why socialism is so attractive to elites. It allows them to speak in the language of compassion and humanity while building structures of dependency. It provides them moral cover for higher spending, higher taxes, more control, and more bureaucracy, even as those policies reduce productivity, punish work and investment, and trap millions in stagnation. The elite doesn’t suffer under socialism because they can store their wealth outside of the system, while those who vote for more government often wonder why they are worse off each time.
The answer to an inefficient and indebted state is not an even bigger one. More government, more taxes, and more interventionism will not solve what big government, rising taxation, and interventionist planning have already damaged. They will only cripple the economy further by reducing incentives to work, save, invest, build, and innovate.
The housing crisis is a good example. The OECD points to public policy choices such as land-use restrictions, zoning barriers, and supply bottlenecks as central drivers of affordability problems. However, the socialist political answer is not to remove barriers and expand supply. It is to add more subsidies, more controls, and more layers of intervention that protect incumbents and deepen the distortions.
Young Americans are not living the failure of capitalism. They are living the cumulative failure of statism, big government, eternal deficits, debt dependence, monetary interventionism, regulatory burdens, and tax systems that penalize work and capital. By the time the rhetoric of compassion gives way to the reality of misery, the socialist system is already built to punish the same citizens it claimed it would protect.
Prosperity and equality of opportunity require the opposite of socialism. It needs smaller and efficient governments, budget control, an open and free monetary system, lower barriers to innovation and businesses or housing supply, and a tax system that supports effort, saving, and entrepreneurship, not dependency, spending, and borrowing. Socialists know they cannot sell socialism by itself. No one would vote for them. All the examples of socialist central planned economies have failed miserably. They need to sell it by using fake examples- the Nordic countries- and disguised as a compassionate “improvement” of the current system in which you will not lose the growth and access to goods and services you have today, you just need to give even more power to politicians. The lie of not losing anything and only winning if you transfer more power to socialist politicians is always followed by stagnation, dependence, poverty, and repression.
Socialists always say, “true socialism has never been implemented,” which is obviously a lie. Socialism is not a great idea badly or incompletely implemented. It is a dreadful idea perfectly executed. The trap is set when the socialists finally persuade the population to embrace socialism. They take over institutions, create a dependent and submissive society and demolish democracy from within, while waving the banner of “democratic socialism”—which is an oxymoron, as socialism is always tyranny and control, not prosperity. However, by then, you cannot get out of it.
Blaming capitalism for the disasters produced by political interventionism is not a mistake; it is a strategy to sell the socialist trap.
KING NEWS
| The King Report for August 17, 2026 – Issue 7806 | Independent View of the News |
| New York Fed: No Reserve Management Purchases in The Month to Mid-September The New York Fed has made a cumulated USD 338.4 billion in asset purchases so far in the eight months since the restart of the RMP… (No T-Bill buying for a month, weighed on the markets on Friday) https://seekingalpha.com/article/4936583-new-york-fed-no-reserve-management-purchases-in-month-to-mid-september An ugly August University of Michigan Consumer Sentiment survey for August shows a big decline among Republicans. “While views of personal finances saw only minor declines, expected business conditions sank 11% for the short run and 17% for the long run. Decreases in sentiment were seen across the political spectrum, with Republicans exhibiting the strongest month-to-month decline in August. Sentiment among Republicans is now 19% below readings just prior to the Iran conflict and the lowest since the 2024 election.” https://www.sca.isr.umich.edu/ Aug UM Consumer Sentiment 51, 54.5 exp; Current Conditions 51.8, 55 exp. Expectation 50.6, 55.2 exp US consumers sour on economy as inflation concerns remain in focus, UMich survey says “Although the early-month weakening in sentiment was pervasive across various demographic groups, notably large reductions were seen among older consumers, lower-income consumers, and those without a college degree,” said the survey’s director, Joanne Hsu. “These groups are all particularly vulnerable to any erosion of purchasing power stemming from inflation… Year-ahead inflation expectations rose to 4.3% from 4.2% in July, while 5-10 year price expectations remained flat month over month at 3.3%. Economists had been looking for one-year inflation expectations of 4.2% and 5-10 year expectations of 3.3%. Only 8% of consumers expect income growth to outpace inflation over the next year, per the survey… https://finance.yahoo.com/economy/article/us-consumers-sour-on-economy-as-inflation-concerns-remain-in-focus-umich-survey-says-144047259.html https://www.sca.isr.umich.edu/files/featured-chart_large-70b1610e.png Who are you going to believe: US CPI data and shills or your lying checkbooks? US Consumer Sentiment Declines for First Time in Three Months The University of Michigan’s preliminary August sentiment index decreased to 51 in August, according to the survey released Friday, from a final reading of 55.2 in July. The median forecast from a Bloomberg survey of economists had projected a reading of 55. https://finance.yahoo.com/economy/articles/us-consumers-cut-retail-spending-132206502.html White House shifts message on Iran: Low gas prices equally important to nuclear goals White House press secretary Karoline Leavitt said the goal of keeping gas prices low and ensuring Iran never has a nuclear weapon are of equal importance to President Donald Trump — a shift from the administration’s frequent insistence that nothing is more important than blunting Iran’s nuclear capabilities… https://www.cnn.com/2026/08/14/world/live-news/iran-war-trump?post-id=cmsta3niv00003b6s5idu8qm4 Bessent: US Readies Economic Isolation of Iran “Like the World Has Never Seen Before” “If 47 years of sanctions haven’t broken Tehran’s will, more of the same is unlikely to produce any changes,” according to a Bloomberg Economics report led by Jennifer Welch. She noted that the most likely scenario is that Trump stays on the same path as before, maintaining sanctions and the blockade. https://www.zerohedge.com/economics/bessent-us-readies-economic-isolation-iran-world-has-never-seen July Retail Sales -0.6% m/m & +5.0% y/y, +0.1% m/m exp; Ex-Autos-0.3% m/m & 5.8% y/y, 0.2% m/m exp; Ex-Autos & Gas -0.2% m/m https://www.census.gov/retail/marts/www/marts_current.pdf USUs made their session high of 109 20/30 seconds on the Thursday night opening. After falling to 109 8/32 at 4 ET, USUs rallied to 109 21/32 7:30 at 8:30 ET. They then sank to 108 29/32, -24/32 for the day, at 11:15 ET. At the time, Sept Gasoline +2.87¢; WTI Oil +$0.46; Brent +$0.83; AU +$34.42 At the European close, the PHLX Oil Service Index was +2.52%; DJIA -0.17%, DJTA +0.1%, Nasdaq -0.47%, Nas 100 -0.4%, SOX Index -1.14%, S&P 500 0.2% with Energy +1.44% Germany’s 30-year Bund yield hits its highest level since 2011. https://x.com/Hedgeye/status/2088285668271140978 Street pundits and posers keep whining that bond real yields are at extremes. Some aver that bonds are now pricing in the US deficit. While the US $40T in debt, and growing, is a concern, ‘they’ fail to realize that bonds believe US CPI and other inflation metrics are bogus and real inflation is higher. This bond dynamic is tantamount to option pricing. The unknown is volatility in option pricing. Pro traders labor to properly calculate volatility. But is it one year, one quarter, one month, one day? Ergo, pro option traders talked about ‘implied volatility.’ This is what the option price states is the volatility. Bonds are giving the world its ‘implied inflation’ rate; it is not some politically concocted fraud. The S&P 500 Index hit its daily high of 7810.01 at 10:08 ET on conditioned trader buying and expectations of the usual Friday Rally. Alas, the UM Sentiment Survey showed growing inflation angst among the masses in August. The era of good feelings from the bogus CPI and PPI Reports vanished. The S&P 500 Index sank to a session low of 7779.90 (-19.09) at 11:51 ET. A Noon Balloon took the index to 7789.62 at 12:26 ET. Selling resumed; the S&P sank to a new daily low of 7776.34 (-22.65) at 13:50 ET. After an ABC rally to 7785.24 at 14:52 ET, the S&P retreated modestly and traded in a 3-handle range until the range extended by 2 handles near the NYSE close. Bloomberg’s Financial Conditions Index reached its most accommodative reading since the 1997 Asian Contagion https://x.com/BraVoCycles/status/2088363941437014247/photo/1 The Diesel Crack Spread is exploding. https://x.com/JuneGoh_Sparta/status/2088166277080911981 @ekwufinance: Diesel & gasoline are on their way to new all-time highs while oil struggles to stay above $80. They (Team DJT) can short oil all they want… the fuel you consume is surging. With the war far from over and refining infrastructure continuing to get blown up, this will likely get even worse. https://x.com/ekwufinance/status/2088357456502260140 @jackprandelli: Diesel and gasoline are heading to fresh all-time highs. Short the barrel all you want. The fuel you burn doesn’t care. Refining infrastructure keeps getting hit and the war isn’t close to over. This gets worse before it gets better. Brace for inflation at the pump, not the pit. https://x.com/jackprandelli/status/2088570426419036331 The reality of the gasoline & diesel fuel markets forced Trump to change hit tune and messaging. Now, Trump claims Americans will accept higher gasoline prices to keep Iran from creating nukes. https://x.com/PolitlcsUS/status/2088581210905657823 @robert_ivanhoe: The copper market has CRACKED. Spot prices flared out into a MASSIVE backwardation of over $300 per tonne as stocks continue to be pulled off the LME. This is the largest spread since 2021, and we all remember what happened then… https://x.com/robert_ivanhoe/status/2088247980662931797 @macropaperr: US homebuyers have dropped to 966,752, the lowest level in HISTORY. https://x.com/macropaperr/status/2088676298566869361 Positive aspects of previous session SNDK +7.51%, MU +2.08%, AMD +6.33%; S&P Energy +1.36%; PHLX Oil Service +2.64% Negative aspects of previous session No Fed RMP until September 15, at the least USUs hit a daily low of 108 25/32 (-28/32) at 12:00 ET. ¥/$ peaked at 159.533 S&P 500 -0.17%, DJIA -0.20%, DJTA -0.62%, Nasdaq -0.32%, Nas 100 -0.13%, SOX Index -0.31% Brent Crude futures settle $88.52, +$1.45, 1.67%; Sept WTI settle $82.40+, $1.15, 1.42%. Gasoline September futures settle at $3.1841, +5.56¢, +1.77% Ambiguous aspects of previous session Is Warsh trying to carefully deflate the stock bubble by halting T-Bill QE? First Hour/Last Hour NYSE Action [S&P 500 Index]: 1st Hour: Down; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to day traders]: 7790.70 Previous session (S&P 500 Index) High/Low: 7810.01 (10:08 ET); 7776.34 (13:50 ET) Trump to declare Strait of Hormuz as U.S. territory https://justthenews.com/government/security/trump-declare-strait-hormuz-us-territory Inside Trump’s secret backchannel to Iran’s Revolutionary Guard The person they tapped for the backchannel was Nechirvan Barzani, the president of the Kurdistan region in Iraq, who had something very few others do: the trust of both U.S. and IRGC leaders… https://www.axios.com/2026/08/16/iran-backchannel-trump-gabbard-barzani-war Are Trump’s endless TACOs due to deceitful conveyances from Barzani and/or IRGC leaders? The media for decades has tried to downplay the fact that JFK and RFK established a backchannel to USSR leaders because they distrusted the CIA and State Dept. However, the Soviet official, Amb. Anatoly Dobrynin, who acted as the Kennedy’s Guy, kept denying that USSR missiles/nuke were in Cuba after the CIA told the Kennedy Boys in the summer of 1962 that the USSR was moving missiles and nukes into Cuba. The Kennedys opted to trust Dobrynin until photo evidence of the missiles appeared in October 1962. The rest is history. Someone should point this out to Trump and his team. Anatoly Dobrynin served as Soviet Ambassador to the United States from 1962 to 1986, playing a key role in Soviet-U.S. relations during the Cold War. Dobrynin was not told by the Kremlin about the decision to deploy missiles to Cuba, and on September 4, 1962 he had misinformed Robert Kennedy that only defensive Soviet weaponry had been sent to Cuba. During the crisis Dobrynin held secret meetings with Robert Kennedy. These private discussions were an important backchannel for communication between Khrushchev and President Kennedy to help work out a solution to the crisis… http://www.cubanmissilecrisis.org/dp-ussr/ambassador-anatoly-dobrynin/ How Big Tech’s Earnings Are Inflated by Other Tech Companies Gains on investments in companies like Anthropic are boosting earnings at some of the biggest technology companies… a big chunk of the earnings consisted of paper gains from marking up equity investments in other companies. Last quarter, “other income” at Amazon.com AMZN -0.94%decrease; down pointing triangle and Alphabet GOOGL -0.13%decrease; down pointing triangle, Google’s parent company, totaled roughly $121 billion combined after taxes, almost all of it from investment gains… Counting gains in volatile equities when they go up while subtracting everyday operating costs isn’t analysis. It’s marketing, which of course is what Wall Street is all about. Investors beware. https://www.wsj.com/finance/stocks/the-121-billion-in-one-time-gains-boosting-big-techs-profits-5d2201da?st=F53x8F @kurtsaltrichter: A big chunk of Big Tech’s record profit came from marking up private startups on paper. Alphabet’s ‘other income,’ mostly gains on stakes like Anthropic and SpaceX, was 71% of its pretax profit last quarter. Amazon’s was 66%. Together, about $121 billion, roughly 15% of the S&P 500’s Q2 earnings. Those marks reverse when private valuations cool. Strip them out and the S&P 500 at 27x earnings looks even pricier. A growth multiple on a one-time markup is how you overpay at the top. https://x.com/kurtsaltrichter/status/2088403803213046167 In the late ‘80s, Japanese zaibatsu/keiretsu crossholdings during that bubble exacerbated the bubble. Some firms engaged in ‘zaitech” – borrowing at low rates and investing to boost profits. Zaibatsu and “Keiretsu” (interlocking firms) – Understanding Japanese Enterprise Groups https://www.wsj.com/finance/stocks/the-121-billion-in-one-time-gains-boosting-big-techs-profits-5d2201da?st=F53x8F @SuburbanDrone: The reason why S&P 500 earnings estimates keep going up is because for the first time in history, capex expense is now being counted as revenue in Wall Street’s forward earnings estimates. If Wall Street was counting AI capex expense at the same rate as they are counting the capex revenue, then earnings would be negative. AI is the Enronification of the entire stock market. https://x.com/SuburbanDrone/status/2088370089141710880 @macropaperr: WALL STREET IS GOING ALL-IN ON STOCKS. Institutional investors have pushed their stock exposure to the highest level since the 2008 Financial Crisis. (State St. Equity Allocations Ind) At the same time, fund managers have cut cash allocations to around 3.3%, near historic lows. In simple terms, big investors are heavily betting on stocks to continue their rally. But if the market suddenly turns, there’s very little liquidity to buy the dip, which could accelerate the dump. https://x.com/macropaperr/status/2088605374421369028 Nvidia plans to reduce its financial guarantee for OpenAI data centers to under $120 billion (From $250B) per the WSJ. Did Nvidia CEO Huang exaggerate about the $500B AI financing deal to force lenders into the fray? Nvidia’s $500 Billion Plan Envelops Wall Street in Its AI Frenzy With slow progress on the complex deals, Nvidia’s chief executive officer, Jensen Huang, decided to change tack: He went public this week with the effort, saying the group is aiming to collectively finance AI computing deals totaling $500 billion — a round figure with no obvious provenance… If the deals don’t happen as announced or go awry, that could pose a risk to the reputation of the financing partners and Nvidia, the person said. https://finance.yahoo.com/technology/ai/articles/nvidia-500-billion-plan-envelops-164209178.html @GlobalMktObserv: Global stocks have NEVER been this large relative to the world economy: Global market cap-to-world GDP ratio surged to a record 143.5%, officially surpassing the 2021 meme stock frenzy peak. This ratio has risen nearly +50 percentage points since April 2025. By comparison, before the Great Financial Crisis, the ratio peaked at ~120%. Global stocks are now valued at unprecedented levels relative to the size of the world economy. https://x.com/GlobalMktObserv/status/2088994692008378442 Today – This is expiration week. Traders will play for the routine, but illegal manipulation tries to squeeze expiry call short sellers. Trading sardines typically are favored for the squeeze. This is why traders are aggressively buying NQUs on Sunday night. ESUs +7.25; NQUs +75.50; USUs +4/32; WTI Oil -$0.31; Gasoline -1.75¢, ¥/$ 159.151 at 20:15 ET. Expected Economic Data: Aug NY Fed Mfg. Index 12; Aug NAHB Housing Market Index 34 S&P 500 50-eay MA: 7512; 100-day MA: 7316; 200-day MA: 7073 (S&P 500 Close 7785.76) DJIA 50-day MA: 52,344; 100-day MA: 50,609; 200-day MA: 49,412 (DJIA Close 53,725.25) (Green is positive slope; Red is negative slope) @realDonaldTrump: Based on my very good relationship with Kim Jong Un, of North Korea, I am not happy with the fact that the United States has, long ago, agreed to participate in Joint Military Exercises with South Korea. These exercises are not only costly, with much of these costs paid for by the United States of America (as usual!),but send a signal that is totally inappropriate and hostile, to a Country that, as long as Donald J. Trump has been President, has been unthreatening and respectful. Therefore, and based on the fact that it is too late to cancel, I have instructed Secretary of War, Pete Hegseth, to substantially reduce the Joint Military Exercises! While somewhat unrelated (?), I recently asked the President of South Korea if they would like to join us in the Denuclearization of the Islamic Republic of Iran, and they said, “No thanks!”… (Hey MAGA, is this 4D chess?) Trump’s above post blew up social media, with most of the opprobrium directed at Trump for remarking, “my very good relationship with Kim Jong Un, of North Korea.” Most didn’t care about South Korea. Navy Carrier’s Problems Are Tied to Attacks on U.S. Base Early in War – NYT Diego Garcia, a tiny island 2,200 miles from the Gulf of Oman, took over as the Navy’s logistics hub after Iran damaged a base in Bahrain… The Iranian attack, retaliation for the U.S.-Israeli assault on Tehran, destroyed much of the base and… a major logistics hub that the Navy has relied on for decades… https://www.nytimes.com/2026/08/14/us/politics/uss-abraham-lincoln-trump-supplies-diego-garcia.html @NoVA_Campaigns: USS Abraham Lincoln sailor dad: “As some you may know my son, Casey, is a yellow shirt on the “ABE.” As such, he has one of the most dangerous and physically and mentally demanding jobs onboard the ship. The flight deck is non-stop. He has worked incredibly long shifts, with little time off. He is not suffering. His morale and resolve are strong. He is proud to have a role in this operation. He is just one example of the many brave, resilient, and strong individuals proudly serving on the ABE… You can also acknowledge hardships without belittling the sailors or turning their service into a pitiful narrative to bolster personal agendas.” Perspective: There are over 5k military personnel on the USS Lincoln. Reportedly, 6 had issues. Mariner/historian @mercoglianos: Even at the height of the Second World War, the logistics train used by the Navy was shorter than the one being used now in the northern Arabian Sea… During the Second World War, Korean War, Vietnam, Persian Gulf War and Iraq War, the US Navy understood the concept that ships need down time from combat operations to reset the crew and equipment. Typical rule of thumb is if you have 3 or 4 carriers deployed, one is back refueling, replenishing and resetting… Working on a ship is GROUNDHOG DAY… everyday is the same. No days off, no vacation, and you live where you work. This place a massive strain on everything, particularly the mental stress on young sailors. Even in WWII, the fast carriers of Task Force 38/58 would only stay at sea for a month at a time. TF 77 off Korea and Yankee Station in Vietnam followed similar models. The underlining issue is fighting a war – and this is a war – with a peacetime Navy and mentality. There are not enough assets in place to support this mission, and this mission is grinding down the readiness of the military to fight future conflicts. This is the most challenging naval logistics operation since the British deployed to the Falklands in 1982… https://x.com/mercoglianos/status/2088671520520274205 Acting Navy secretary salutes Lincoln crew amid mental health crisis reports “The USS Abraham Lincoln crushed their deployment and will return home soon as part of a planned rotation. Details will come but let me be clear: the safety and security of our Sailors and Marines always comes first,” he posted on X. “Mission accomplishment. Troop Welfare. This is how we lead.” He wrote that “a small number of mental health cases were treated with no loss of life” and that “meal plans were adjusted when fresh resupply was unavailable, without a single meal being missed.” https://trib.al/MNohKVz @CENTCOM: Statement (on USS Lincoln) from Adm. Brad Cooper, CENTCOM commander: https://x.com/CENTCOM/status/2089056691853709717 The plight of the USS Lincoln provoked copious debate on social media. US vets are split. Some said the sailors are soft; Navy types claimed aircraft carrier conditions are intolerable during extended operations. It appears from recent reports that the ‘mental health crisis’ on the Lincoln was overhyped to hurt Trump. However, DJT’s smart mouth regarding the USS Lincoln situation infuriated many indifferent observers @NatalieABrand: Exchange between reporter and President Trump on U.S.S. Lincoln: “Family members of U.S. service members are concerned about the conditions on board the Lincoln.” President Trump: “That ship is moving – no they’re not. That ship is moving right now, or very shortly and being replaced with another very similar ship.” Reporter: “Has that deployment gone on too long?” Trump: “No, no, no. Not nearly long enough.” USS Benfold Was Stalled in the South China Sea for Four Days After Engineering Casualty https://news.usni.org/2026/08/14/uss-benfold-was-stalled-in-the-south-china-sea-for-four-days-after-engineering-casualty Johnson, Paul release new email showing top FDA official’s concerns about COVID vax adverse effects – The newly released email shows that on May 27, 2021, Dr. Janet Woodcock, then-acting Commissioner of the Food and Drug Administration, wrote to Drs. Anthony Fauci and Francis Collins. https://justthenews.com/government/congress/johnson-paul-release-new-email-showing-top-fda-officials-concerns-about-covid Two federal agencies routed taxpayer dollars to terror-linked charities, new reports find The State Department worked with World Vision to distribute $2 billion in global health foreign assistance even though an Israeli court convicted the nonprofit’s Gaza affiliate operations manager of sending up to $50 million to Hamas in 2022. Separately, the Health and Human Services Department (HHS) provided nearly $80 million to 14 organizations linked to terrorism and extremism… https://justthenews.com/government/federal-agencies/two-federal-agencies-routed-taxpayer-dollars-terror-linked-charities FBI seized phones from billionaire, top deputy before $12.5B Lakers sale to Josh Kushner, Bob Iger: report https://trib.al/irozIKy Lawsuit: Hugh Hefner Alerted FBI to Epstein Abuse in 2005 Playboy founder Hugh Hefner contacted the FBI in 2005 on behalf of a former Playmate who said Jeffrey Epstein had sexually abused her, but the woman said the bureau never followed up with her, according to allegations cited in a federal lawsuit. Audra Christiansen sought Hefner’s help while living at the Playboy mansion after telling him she had been abused and trafficked by Epstein, according to a fourth amended complaint filed May 21 in U.S. District Court for the Southern District of Florida… Christiansen told NewsNation on Friday that she contacted the FBI again in 2020 amid threats against her family and later hired an attorney in an effort to secure a meeting with the bureau. “I have never been able to speak to the FBI,” Christiansen told NewsNation, adding that the bureau would not meet with her or her attorney… (It is clear that Epstein was protected by US officials and others!) https://www.newsmax.com/newsfront/jeffrey-epstein-lawsuit-fbi/2026/08/14/id/1266165/ @nypost: Luigi Mangione supporter calls murder of CEO a ‘revolutionary act of protest’ https://x.com/nypost/status/2088321397424541794 @FoxUSNews: NYPD Commissioner Jessica Tisch delivered a blunt message to those who support Luigi Mangione: “Violence is not a cause. Murder is not a message. And a killer is certainly not a hero.” https://x.com/FoxUSNews/status/2088300288298062018 @PhilWMagness: JD Vance wants to end the US dollar’s position as a global reserve currency, because he thinks it allows Americans to consume too much and do so too cheaply. Keep that in mind the next time you order a $20 burrito on door dash. https://x.com/PhilWMagness/status/2088276071862960554 (No wonder Marco Rubio is the choice for 2028 among GOP solons!) State watchdog finds Chicago migrant crisis workers were paid to do nothing (grift everywhere) The Illinois’ Auditor General reports that the state paid more than $78 million to Favorite Healthcare Staffing for employees to sit on standby, not actually doing anything, for nearly a half million hours. https://www.nbcchicago.com/investigations/state-watchdog-finds-chicago-migrant-crisis-workers-were-paid-to-do-nothing/3975189/ I teach calculus at Berkeley. Some of my students can’t do middle school math Since the University of California abandoned the SAT and ACT, thousands of faculty say it’s admitting students who aren’t prepared for the coursework. Will UC listen?… Some students are five to eight years behind in mathematics. Office hours that should be spent discussing integrals instead become lessons on fractions and basic algebra you would expect students to learn in middle school… https://sfstandard.com/opinion/2026/08/15/uc-berkeley-sat-test-blind-admissions-math-scores/ “Being hated by idiots is the price you pay for not being one of them.” — Jean Cocteau | |
SWAMP STORIES FOR YOU TONIGHT
Judge Drops Case Against 6 Nevada Republicans Accused Of Falsifying 2020 Election Result
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Friday, Aug 14, 2026 – 09:45 PM
Authored by Chris Summers via The Epoch Times,
Six Nevada Republicans, who were accused of submitting a certificate falsely declaring President Donald Trump had won the state’s 2020 presidential election, will not face a trial after a judge dismissed the case against them on Aug. 13.
Nevada GOP Chair Michael McDonald walks on stage before speaking ahead of then-Republican presidential candidate and former President Donald Trump at a campaign event in Las Vegas, Nev. on Jan. 27, 2024. John Locher/AP
Nevada Judge Mary Kay Holthus ruled in favor of the defendants, who were Nevada GOP Chair Michael McDonald, Nevada GOP Vice Chairs James DeGraffenreid and Durward Hindle, Clark County GOP Chair Jesse Law, and Douglas County GOP officials Shawn Meehan and Eileen Rice.
Nevada Attorney General Aaron Ford – who, as a Democrat, will challenge Gov. Joe Lombardo, a Republican, in November’s election – brought charges of forgery and “offering a false instrument for filing or record” against the six, who all pleaded not guilty.
In December 2023, Trump suggested that the indictment was politically motivated and tied to the Biden administration.
Trump won in Nevada by a large margin in 2016, but lost the election in 2020.
The 2020 election, conducted under the COVID-19 pandemic restrictions, was marred by allegations of electoral fraud.
After the Nov. 3, 2020, election, the six Republican electors gathered outside the Nevada Legislature to sign a certificate giving the state’s six electoral college votes to Trump. The ceremony was broadcast online, and the video footage was used by the prosecution as evidence in the case.
It would later emerge that Biden had won Nevada by more than 30,000 votes.
The case brought against the six Nevada defendants centered on their intent in submitting the certificate.
Prosecutors argued that the defendants intended for the certificate to be recognized as Electoral College votes by then-Vice President Mike Pence, who had to determine who had won the election on Jan. 6, 2021.
Defendants Said It Was ‘Political Theater’
But the defendants said signing the certificate online was an act of “political theater” designed to publicize their concerns about alleged electoral fraud.
They said they had no intent to deceive a government agency but were preserving their rights to challenge the official election results.
“Testimony presented to the grand jury established that the submitted certificates were not treated as Nevada’s official electoral certificates and were not accepted for filing or acted upon by the receiving agencies,” she wrote in her ruling.
“Rather, the evidence demonstrated that the documents were recognized for what they were and returned because they could not be accepted.
“The Court further finds the public and political nature of Defendants’ conduct significant in evaluating whether the evidence supports an inference of fraudulent intent.
“Defendants repeatedly explained the purpose of their actions during the televised ceremony and in contemporaneous communications.”
Holthus said she concluded that the state had “failed to present sufficient evidence establishing the essential elements of the offenses charged.”
Three similar cases in Michigan, Arizona, and Georgia have previously been tossed.
Nevada Attorney General to Appeal
Ford’s office said it plans to appeal Holthus’s ruling.
McDonald’s defense attorney Richard Wright, in a statement emailed to The Epoch Times, said Holthus’s order was “well reasoned.”
“This hasty, premature announcement of an intention to appeal [by Ford] reeks of continuing a politically motivated and legally doomed prosecution,” Wright wrote.
He accused Ford of wanting to continue a “harassment” and “waste of expensive prosecutorial resources.”
The Nevada decision came on the same day Michigan Attorney General Dana Nessel announced charges against five noncitizens accused of voting in the 2024 general election, and one U.S. citizen accused of registering her noncitizen spouse to vote.
The charges follow a state review of 38 suspected cases of noncitizen voting or related conduct from 2009 to 2025.
Donald Trump supporters protest the Nevada vote outside Clark County Election Department in North Las Vegas, Nev., on Nov. 5, 2020. Ronda Churchill/AFP via Getty Images
END
TEXAS
Dallas Airport Shelves Muslim Washing Facilities After Texas Governor Threatens Airport Funding
Sunday, Aug 16, 2026 – 10:10 PM
Authored by Jeremy Lott via The Epoch Times,
The Dallas Fort Worth (DFW) International Airport was mulling the installation of special washing rooms to facilitate prayers by its Muslim passengers. A DFW spokesman told The Epoch Times Saturday that the airport has shelved those plans after objections by the governor of Texas.
The airport was “in the process of evaluating an internal proposal to add a set of ablution washing stations on the pre-security side of Terminal D” for international passengers, the spokesperson wrote in a statement.
Terminal D is one of five terminals at DFW. The terminal has more than 30 gates, out of what the airport lists as over 160 total gates. It also has a connected hotel, the Grand Hyatt.
With every proposed project in the whole airport, DFW management considers several factors, including “operational benefits, customer service impacts, operational risks and costs,” before granting approval, the spokesperson said.
The prayer washing project had not yet reached the official evaluation point when Texas Gov. Greg Abbott registered his opposition to such facilities.
“Government-owned airports cannot favor one religion over all others,” Abbott wrote on his X account Friday, and thus the airport’s “plans to install Islamic wudu washing facilities” were “illegal.”
The governor announced that he had taken action so his state would “not allow illegal religious discrimination at taxpayer-funded facilities.” He directed a review of all state grants to both DFW and an airport in Houston “for possible revocation” and also referred the issue to the Department of Transportation for its own investigation.
Abbott also included links to letters that he had sent to Secretary of Transportation Sean Duffy and DFW’s CEO Christopher McLaughlin. He copied U.S. Attorney General Todd Blanche on the Duffy letter, and the mayors of Dallas, Fort Worth, and Houston on his letter to the DFW.
DFW then “accelerated its review due to elevated public interest this week,” the spokesperson said. It “determined not to proceed” as the project seemed unlikely to “deliver the originally anticipated operational benefits.”
Reached for comment, the governor’s press office pointed The Epoch Times to a follow-up post by Abbott in which he acknowledged the change of plans by DFW and said, “It was clearly illegal.”
Houston Facility
While the issue appears to be closed at DFW, the George Bush Intercontinental Airport (IAH) in Houston has had a wudu washing facility in place for close to two years now.
In late October 2024, the Houston branch of the Council on American Islamic Relations (CAIR-Houston) held an official recognition ceremony to celebrate the Houston airport as “one of the first airports in the U.S. to offer such amenities,” and for “setting a new standard for inclusivity and traveler comfort.”
CAIR-Houston said at the time that wudu is “an Islamic ritual of purification.”
The wudu room in Houston includes “benches, coat racks, and space for luggage” and is “fully ADA-accessible,” it said.
The Texas governor is pressing the case that the Houston facility is also illegal. The Epoch Times contacted IAH for comment but received only an automated reply.
In majority Muslim nations, public facilities such as airports often have rooms or at least stations to assist in this cleaning, as observant Muslims pray at five distinct times during most days.
These are less common in nations without Muslim majorities, but some Western airports have them. London’s Heathrow Airport has wudu capabilities in its multi-faith prayer rooms. O’Hare International Airport, which services the Chicago metro, has interfaith chapels with wudu functions.
The Department of Transportation (DOT) did not return The Epoch Times’ request for clarification on whether or not it considered a Muslim washing room to be illegal at an American international airport by the time of publication.
END
MASS, MAYOR
Massachusetts Mayor Charged With Using COVID Loan For Election Campaign, Debt Payments
by Tyler Durden
Monday, Aug 17, 2026 – 01:19 PM
Authored by Aldgra Fredly via The Epoch Times,
A Massachusetts mayor was arrested on Aug. 14 on allegations that he fraudulently secured more than $1.5 million in COVID-19 small-business loans to fund his election campaign and pay personal taxes and mortgages.
Lawrence Mayor Brian DePeña, 61, was charged with one count of wire fraud and one count of money laundering, according to a statement by the U.S. Attorney’s Office for the District of Massachusetts.
DePeña has been released from custody following his initial appearance in federal court in Boston on Aug. 14, subject to several conditions, including turning over his passport.
According to his indictment, he allegedly applied for Economic Injury Disaster Loans (EIDL) for Tenares Tire Services Inc., a tire sales and automotive services business he owned in Lawrence, between 2020 and 2021.
The Small Business Administration (SBA) offered those loans to eligible small businesses that were facing financial difficulties during the COVID-19 pandemic.
Prosecutors alleged that DePeña obtained $150,000 in EIDL loans for Tenares Tire in June 2020, using most of the funds as working capital for his business. In early 2021, his mayoral campaign was struggling to pay bills, and he owed back taxes to the IRS and $900,000 to two private lenders.
DePeña allegedly applied in April 2021 for an increase in his business’s EIDL loan, which the SBA later approved for an additional $350,000, according to the statement.
Prosecutors said DePeña allegedly used $85,000 of the funds to pay off personal tax debts and transferred $120,000 to his personal account, of which $90,000 was later deposited into his mayoral campaign account.
In October 2021, DePeña allegedly requested another EIDL loan increase, which the SBA approved for more than $1.15 million. He then transferred the entire amount to a personal account and used $42,112.96 of that fund for his mayoral campaign, prosecutors alleged. He also allegedly used more than $883,000 to pay off his debts.
The mayor had made 16 payments on the Tenares Tire EIDL as of Aug. 5, 2026, leaving an outstanding principal balance of about $1.6 million, according to prosecutors.
“This was emergency financial assistance meant to be a safety net for struggling businesses, not Mr. DePena’s own personal ATM,” Ted E. Docks, special agent in charge of the FBI’s Boston Field Office, said in the statement.
“When elected officials misuse federal funds for personal gain, they’re breaking the trust of their constituents—and breaking the law.”
DePeña has served as mayor since 2021. He was reelected in November 2025 and previously served on the Lawrence City Council.
He faces up to 20 years in prison, three years of supervised release, and a fine of up to $250,000 if convicted of wire fraud. For money laundering, DePeña could face up to 10 years in prison, three years of supervised release, and a $250,000 fine if found guilty.
DePeña’s office did not respond to a request for comment.
DEMOCRATS/.PIKER
The Democrats’ Hasan Piker Problem Is Getting Worse
Sunday, Aug 16, 2026 – 09:35 PM
The Democratic Party has so much going for it in the 2026 midterm election season, yet it looks like one man in particular might blow it for them. Hasan Piker, the 35-year-old left-wing influencer, is becoming a genuine electoral liability that could extend well beyond the races he’s personally gotten involved in, and according to a report from the Wall Street Journal, Democrats are trying to do something about it.
In Michigan, Piker has been campaigning alongside Democrat U.S. Senate nominee Abdul El-Sayed despite warnings from party operatives who would rather he didn’t. The two have continued campaigning together even as Democratic officials worry the association could bleed into contests in Texas, Georgia, Wisconsin and Maine, states where Piker hasn’t lifted a finger for any candidate. That’s the nature of viral notoriety. A candidate doesn’t need Piker in the room to become an issue because of him.
Piker built his following on livestreams that pull in an audience of millions, a platform he has used to deliver commentary that ranges from standard progressive fare to remarks widely considered to be antisemitic, particularly his treatment of Israel and its supporters. Piker rejects the antisemitism charge, saying his quarrel is with Israel and its defenders rather than with Jews.
In addition to his criticism of Israel, one of his most controversial remarks was that America “deserved 9/11,” a line he later claimed he should have phrased more carefully.
Even as his rhetoric becomes a liability for the party he’s trying to help, Rep. Alexandria Ocasio-Cortez (D-NY) and Sen. Bernie Sanders (I-VT) have aligned themselves with him, while others are drawing a line in the sand. Sen. John Fetterman (D-PA) and strategist James Carville both threatened to walk away from the party over Piker’s rising influence within it, though Carville later softened the threat.
Two primaries in two weeks offered the first real test. Even though El-Sayed won his Michigan Senate primary on Aug. 4, his margin of victory was smaller than polls predicted. A week later in Wisconsin, DSA-aligned Francesca Hong lost the gubernatorial primary despite polls showing her with a commanding lead. Notably, neither Ocasio-Cortez nor Sanders endorsed Hong, even as both went to bat for El-Sayed.
Piker rejects the idea that he’s dragging down Democratic candidates. “I don’t think that progressives have a harder time beating Republicans,” he told the Wall Street Journal. “I think that logic is flawed. It’s just somewhat untested.”
Despite his claim, the record on progressive and socialist candidates winning outside deep blue turf is thin to nonexistent. Progressive mayors run Los Angeles, Chicago, Seattle and New York City under Karen Bass, Brandon Johnson, Katie Wilson and Zohran Mamdani, and Democrats hold every governorship on the West Coast plus Massachusetts and Illinois. Every one of those wins happened on turf Democrats were always going to carry. The candidates who actually flipped competitive ground, Barack Obama and Joe Biden among them, ran as moderates first and only governed further left once in power. Piker’s theory requires competitive states to behave like safe ones. They haven’t yet, and nothing in this cycle suggests they’re about to start.
Republicans have been playing both sides of this. In Wisconsin, GOP-aligned super PACs spent millions on ads calling Hong “too liberal” – an attempt to hand her the nomination and an easier general election to their own candidate. Their opposition researchers have been just as busy with Piker. They’ve resurfaced a hostile exchange Piker had with a woman who identified herself as a refugee from a Marxist regime, along with his reaction to Hong’s primary loss, and both clips are now doing steady rotation in attack ads across multiple states. The combative instincts that built Piker’s audience are proving just as useful to the people trying to end Democratic careers as they were to the people who wanted him amplifying their own.
Carville’s walk-back and Fetterman’s hedge suggest party leadership understands the risk even if it can’t agree on what to do about it. AOC and Sanders embracing Piker points to a faction that either doesn’t see that risk or has decided it’s worth the trade. Both camps are operating inside the same party, running in the same midterms, sharing the same brand and trying to pull it in opposite directions.
The Democrat Party isn’t shaking Hasan Piker loose anytime soon, and the longer leadership avoids confronting that, the more permanent the association becomes. Every week they stay silent, Republicans bank another data point for their general election messaging. Democrats keep telling themselves this is a manageable problem, but it clearly isn’t.
END
GREG HUNTER…INTERVIEWING MARTIN ARMSTRONG
2026 Midterms Very, Very Tight Election – Martin Armstrong
By Greg Hunter On August 15, 2026 In Market Analysis, Political Analysis32 Comments
By Greg Hunter’s USAWatchdog.com
Legendary financial and geopolitical cycle analyst Martin Armstrong is out with a new report (more than 100 pages) that takes a deep dive on the “2026 Midterm Elections” in November. Armstrong says, “The computer is showing this is going to be a very, very tight election. It’s a 50/50 deal where we didn’t see either party coming in with a landslide. The bottom line looks like the Democrats can take the House, but not the Senate. So, you will have a 50/50 divided government. You are going to get a lot of the crazies on the Democrat side. Even the conservative Democrats are getting very nervous. You recently had (Democrat) James Carville talking about how the party is going to split, which was our forecast in 2024. So, this is where we are heading. By the Dems taking the House, you will see all kinds of investigations, there will be another impeachment of Trump, etc. They will be real obstructionists. They don’t give a crap about the country. If Trump says the sky is blue, they have to say it’s red. This is the way politics degenerated.”
The implications for the Democrats will be long lasting and not in a good way. Armstrong says, “If the Democrats take the House, they will basically make this a real shit fight. Our computers show for 2028 something very, very interesting. I have never seen it do this, and it’s showing the Democrats will lose dramatically. On the Republican side, it shows they win even slightly above 70%. You take the two favorites from both sides, which would be Vice President Vance against AOC (Alexandria Ocasio-Cortez), Vance would blow her out, yes. I think the Democrats need to take the House to show the world how screwed up they really are. There will be a check against them from Trump and the Senate. They can do an impeachment, but the trial has to be in the Senate, and it’s not going to go anywhere. . .. It’s going to get much worse before the Midterms. As I said, these people don’t care about the country. This has turned into a bloodsport. This is part of what the computer has been projecting. By 2032, we are looking at the collapse of Republican forms of government.”
On the war in Ukraine, Armstrong says, “I am not optimistic. It looks like it goes off the boards by 2030 or so. Even the EU looks like it’s going to collapse after 2029 and break up again.”
With the Iran war, Armstrong says, “China is using Iran to drain our resources, which has happened. It takes two to three years to replace the missiles. Taiwan is up in arms saying to the US, you don’t have the fire power to protect us. . .. You see the same thing with Russia and Ukraine. They say Russia is weak. They can’t take Ukraine, and Ukraine has seriously weakened Russia. That is what Ukraine is doing. That’s the whole purpose of this, and that was to drain Russia. Iran is doing the same thing to America.”
Armstrong says don’t expect the stock market to crash anytime soon as money is flowing into and not out of America. Armstrong also is forecasting a new gold bull market in 2027.
There is much more in the 48-minute interview.
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Join Greg Hunter of USAWatchdog as he goes one-on-one with Martin Armstrong to talk about Iran, Ukraine, gold, oil and the 2026 Midterm Elections for 8.15.26.
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Usawatchdog.com/2026-midterms-very-very-tight-election-martin-armstrong/
There is free information, analysis and articles on ArmstrongEconomics.com.
For the deep dive on the “2026 Midterm Elections,” click here.
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There are also current cutting-edge, in-depth reports you can buy on a wide variety of subjects by clicking here.
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