GOLD PRICE CLOSED: DOWN $29.35 at $1786.25
SILVER PRICE CLOSED: DOWN $0.53 to $23.43
Access prices: closes : 4: 15 PM
Gold ACCESS CLOSE 1792.60
Silver ACCESS CLOSE: 23.56
Bitcoin morning price:, 16,815 UP 15 DOLLARS
Bitcoin: afternoon price: $16,657 DOWN 149 dollars
Platinum price closing $982.05 DOWN $18.90
Palladium price; closing 1687.70 UP 8.70
END
Due to the huge rise in the dollar, we must look at gold and silver in currencies other than the dollar to understand where we are heading
I will now provide gold in Canadian dollars, British pounds and Euros/4: 15 PM ACCESS
CANADIAN GOLD: $2446,13 DOWN $25.00 CDN dollars per oz
BRITISH GOLD: 1489.28 DOWN 13.57 pounds per oz
EURO GOLD: 1692.07 DOWN 18.85 euros per oz
EXCHANGE: COMEX
COMEX//NOTICES FILED 0
COMEX//NOTICES FILED re JPMorgan 0/0
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GOLD: NUMBER OF NOTICES FILED FOR DEC. CONTRACT: 0 NOTICES FOR nil OZ or nil TONNES
total notices so far: 20,287 contracts for 2,028700 oz (63.100 tonnes)
SILVER NOTICES: 264 NOTICE(S) FILED FOR 1,320,000 OZ/
total number of notices filed so far this month 4209 for 21,045,000 oz
END
GLD
WITH GOLD DOWN $29.35
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD//BIG CHANGES IN GOLD INVENTORY AT THE GLD: /////NO CHANGES IN GLD INVENTORY:
INVENTORY RESTS AT 913.88 TONNES
Silver//SLV
WITH NO SILVER AROUND AND SILVER DOWN 53 CENTS
AT THE SLV// :/NO CHANGES IN SILVER INVENTORY AT THE SLV//
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV
CLOSING INVENTORY: 507.90 MILLION OZ (THIS IS ALSO A CRIME SCENE@!!!!
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A SMALL SIZED 290 CONTRACTS TO 128,988 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THE LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR $0.09 LOSS IN SILVER PRICING AT THE COMEX ON WEDNESDAY. OUR SHORTERS/HFT WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.09 AND WERE UNSUCCESSFUL IN KNOCKING ANY SPEC LONGS, AS WE HAD A VERY TINY LOSS ON OUR TWO EXCHANGES OF 49 CONTRACTS. AS WELL WE HAD EXCHANGE FOR RISK TRANSFER OF 0 CONTRACTS. WE HAD MINOR SPEC SHORT COVERINGS OF THEIR SHORTFALL. .WE PROBABLY HAD SMALL SHORT ADDITIONS WITH THE SMALL PRICE FALL OF THE SILVER. // OUR BANKERS CONTINUE TO BE PURCHASERS OF NET COMEX LONGS. BUT THEY ALSO SUPPLIED THE NECESSARY SHORT CONTRACTS>>> SOME INCREASE OF NEWBIE SPEC LONGS ADDING TO THEIR POSITIONS CAUSING ADDITIONAL MISERY TO OUR SHORTERS.
WE MUST HAVE HAD:
A HUGE ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 23 .24. MILLION OZ FOLLOWED BY TODAY;S E.F.P.. JUMP TO LONDON of 5,000 OZ // V) SMALL SIZED COMEX OI LOSS/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL – 70
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS DEC. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF DEC:
TOTAL CONTRACTS for 18 days, total 9928 contracts: OR 49.640 MILLION OZ PER DAY. (551 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 49.64 MILLION OZ
.
LAST 17 MONTHS TOTAL EFP CONTRACTS ISSUED IN MILLIONS OF OZ:
MAY 137.83 MILLION
JUNE 149.91 MILLION OZ
JULY 129.445 MILLION OZ
AUGUST: MILLION OZ 140.120
SEPT. 28.230 MILLION OZ//
OCT: 94.595 MILLION OZ
NOV: 131.925 MILLION OZ
DEC: 100.615 MILLION OZ
JAN 2022// 90.460 MILLION OZ
FEB 2022: 72.39 MILLION OZ//
MARCH: 207.430 MILLION OZ//A NEW RECORD FOR EFP ISSUANCE
APRIL: 114.52 MILLION OZ FINAL//LOW ISSUANCE
MAY: 105.635 MILLION OZ//
JUNE: 94.470 MILLION OZ
JULY : 87.110 MILLION OZ
AUGUST: 65.025 MILLION OZ
SEPT. 74.025 MILLION OZ///FINAL
OCT. 29.017 MILLION OZ FINAL
NOV: 134.290 MILLION OZ//FINAL
DEC, 49.64. MILLION OZ INITIAL( VERY SMALL)
RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 290 WITH OUR $0.09 LOSS IN SILVER PRICING AT THE COMEX// WEDNESDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE CONTRACTS: 175 CONTRACTS ISSUED FOR MAR AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS./ WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR DEC OF 23.24 MILLION OZ FOLLOWED BY TODAY:S 5,000 E.F.P.. JUMP TO LONDON //NEW STANDING 23.360 MILLION OZ + EFR 11.5 = 34.86 MILLION OZ. .. WE HAVE A TINY SIZED LOSS OF 115 OI CONTRACTS ON THE TWO EXCHANGES FOR .575 MILLION OZ.. THE SILVER SHORTS ARE NOW TRAPPED AS THEY ARE HAVING CONSIDERABLE DIFFICULTY IN COVERING THOSE SHORTS.
WE HAD 264 NOTICE(S) FILED TODAY FOR 1,320,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST ROSE BY A GOOD SIZED 5226 CONTRACTS TO 441,879 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: removed 488 CONTRACTS.
.
THE GOOD SIZED INCREASE IN COMEX OI CAME WITH OUR ZERO GAIN IN PRICE. WE ALSO HAD A STRONG INITIAL STANDING IN GOLD TONNAGE FOR DEC. AT 58.86 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY:S ZERO QUEUE JUMP of 1 contract or 100 oz//(QUEUE JUMPING = EXERCISING LONDON BASED EFP’S WILL CONTINUE UNTIL MONTH’S END) (EFP is the transfer of contracts immediately to London for potential gold deliveries originating from London). NEW STANDING 63.576 TONNES
YET ALL OF..THIS HAPPENED WITH OUR ZERO GAIN IN PRICE WITH RESPECT TO WEDNESDAY’S TRADING
WE HAD A HUGE SIZED GAIN OF 10,857 OI CONTRACTS (33.76 PAPER TONNES) ON OUR TWO EXCHANGES..
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 5631 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 441,879
IN ESSENCE WE HAVE A HUGE SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 10,857 CONTRACTS WITH 5226 CONTRACTS INCREASED AT THE COMEX AND 5631 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 10,857 CONTRACTS OR 33.769 TONNES.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A GOOD SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5631 CONTRACTS) ACCOMPANYING THE GOOD SIZED GAIN IN COMEX OI (5226) TOTAL GAIN IN THE TWO EXCHANGES 10,857 CONTRACTS. WE NO DOUBT HAD 1) FEW SPECULATOR SHORT COVERINGS // CONTINUED GOOD BANKER ADDITIONS BUT THEY ALSO SUPPLIED THE NECESSARY PAPER SHORT. WE HAD CONSIDERABLE SHORT SPEC ADDITIONS/// // HUGE NEWBIE SPEC ADDITIONS ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR DEC. AT 58.86 TONNES FOLLOWED BY TODAY’S QUEUE. JUMP of 100 oz// //NEW STANDING 63.760 TONNES///3) ZERO LONG LIQUIDATION //.,4) GOOD SIZED COMEX OPEN INTEREST GAIN 5) GOOD ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER/
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2022 INCLUDING TODAY
DEC
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC :
42,305 CONTRACTS OR 4,230,500 OZ OR 131.58 TONNES 18 TRADING DAY(S) AND THUS AVERAGING: 2350 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 18 TRADING DAY(S) IN TONNES:131.58 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2021, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 131.58/3550 x 100% TONNES 3.71% OF GLOBAL ANNUAL PRODUCTION
ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2022
JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)
FEB : 171.24 TONNES ( DEFINITELY SLOWING DOWN AGAIN)..
MARCH:. 276.50 TONNES (STRONG AGAIN/
APRIL: 189..44 TONNES ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)
MAY: 250.15 TONNES (NOW DRAMATICALLY INCREASING AGAIN)
JUNE: 247.54 TONNES (FINAL)
JULY: 188.73 TONNES FINAL
AUGUST: 217.89 TONNES FINAL ISSUANCE.
SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_
OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)
NOV: 312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP
DEC. 175.62 TONNES//FINAL ISSUANCE//
JAN:2022 247.25 TONNES //FINAL
FEB: 196.04 TONNES//FINAL
MARCH: 409.30 TONNES INITIAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.
APRIL: 169.55 TONNES (FINAL VERY LOW ISSUANCE MONTH)
MAY: 247,44 TONNES FINAL//
JUNE: 238.13 TONNES FINAL
JULY: 378.43 TONNES FINAL
AUGUST: 180.81 TONNES FINAL
SEPT. 193.16 TONNES FINAL
OCT: 177.57 TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)
NOV. 223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)
DEC: 131.58 tonnes Initial//VERY SMALL
SPREADING OPERATIONS
(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW NON ACTIVE FRONT MONTH OF NOV. WE ARE NOW INTO THE SPREADING OPERATION OF BOTH SILVER AND GOLD (WILL BE SMALL AS SPREADERS DO NOT PAY ATTENTION TO NOVEMBER)
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF OCT HEADING TOWARDS THE NON ACTIVE DELIVERY MONTH OF NOV., FOR BOTH GOLD AND SILVER:
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (NOV), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
First, here is an outline of what will be discussed tonight:
1.Today, we had the open interest at the comex, in SILVER, FELL BY A SMALL SIZED 290 CONTRACTS OI TO 129,054 AND FURTHER FROM OUR COMEX HIGH RECORD //244,710(SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 5 YEARS AGO.
EFP ISSUANCE 175 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MAR 175 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 175 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 290 CONTRACTS AND ADD TO THE 175 OI TRANSFERRED TO LONDON THROUGH EFP’S,
WE OBTAIN A TINY LOSS OF 115 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES.
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 0.575 MILLION OZ//
OCCURRED WITH OUR 9 CENT LOSS IN PRICE ….. OUR SPEC SHORTS HAVE NOWHERE TO HIDE!
OUTLINE FOR TODAY’S COMMENTARY
1/COMEX GOLD AND SILVER REPORT
(report Harvey)
2 ) Gold/silver trading overnight Europe,
(Peter Schiff,
end
3. Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com,
4. Chris Powell of GATA provides to us very important physical commentaries
end
5. Other gold/silver commentaries
6. Commodity commentaries//
7/CRYPTOCURRENCIES/BITCOIN ETC
3. ASIAN AFFAIRS
i)THURSDAY MORNING//WEDNESDAY NIGHT
SHANGHAI CLOSED DOWN 13.98 PTS OR 0.46% //Hang Sang CLOSED UP 518.73 OR 2.71% /The Nikkei closed UP 120.15 OR 0.46% //Australia’s all ordinaries CLOSED UP 0.58% /Chinese yuan (ONSHORE) closed DOWN TO 6.9813//OFFSHORE CHINESE YUAN DOWN TO 6.9885// /Oil UP TO 79.58 dollars per barrel for WTI and BRENT AT 82.94 / Stocks in Europe OPENED MOSTLY RED (EXCEPT LONDON). ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER
a)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 C CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A GOOD SIZED 5226 CONTRACTS UP TO 442,367 WITH OUR THE ZERO GAIN IN PRICE
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE -ACTIVE DELIVERY MONTH OF DEC… THE CME REPORTS THAT THE BANKERS ISSUED A GOOD SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS 5631 EFP CONTRACTS WERE ISSUED: ;: , . 0 FEB: 5631 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 5631 CONTRACTS
WHEN WE HAVE BACKWARDATION, EFP ISSUANCE IS VERY COSTLY BUT THE REAL PROBLEM IS THE SCARCITY OF METAL AND IT IS FAR BETTER FOR OUR BANKERS TO PAY OFF INDIVIDUALS THAN RISK INVESTORS ESPECIALLY FROM LONDON STANDING FOR DELIVERY. THE LOWER PRICES IN THE FUTURES MARKET IS A MAGNET FOR OUR LONDONERS SEEKING PHYSICAL METAL. BACKWARDATION ALWAYS EQUAL SCARCITY OF METAL!
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A HUGE SIZED TOTAL OF 10,857 CONTRACTS IN THAT 5631 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A GOOD SIZED COMEX OI GAIN OF 5226 CONTRACTS..AND THIS HUGE SIZED GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR ZERO GAIN IN PRICE. WE ARE WITNESSING CONSIDERABLE SPEC SHORTS ADDITIONS TO THEIR SHORTFALL BUT FEW SPEC SHORT LIQUIDATIONS. BANKERS CONTINUE AS NET BUYERS OF COMEX GOLD CONTRACTS AS THEY HAVE BEEN NET LONG FOR THE PAST FEW MONTHS. WE ALSO HAD HUGE NEWBIE SPECS ADDITIONS.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING DEC (63.760)
TONNES),
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 12 MONTHS OF 2021-2022:
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:
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 (TOTAL SO FAR THIS YEAR 591.535 TONNES)
Dec. 63.760 tonnes
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT WAS FLAT IN PRICE) //// AND WERE ALSO UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A HUGE GAIN OF 11,345 CONTRACTS ON OUR TWO EXCHANGES >. WE HAD CONSIDERABLE NEW SPEC SHORT ADDITIONS AND FEW SPEC SHORT COVERINGS.. // WE HAVE GAINED A TOTAL OI OF 35.287 PAPER TONNES OF TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR DEC. (54.57 TONNES), following our QUEUE jump of 100 oz//new standing RISING TO 63.760 tonnes…THIS WAS ACCOMPLISHED DESPITE OUR ZERO GAIN IN PRICE
WE HAD – 488 CONTRACTS COMEX TRADES REMOVED FROM OPEN INTEREST AFTER TRADING ENDED LAST NIGHT
NET GAIN ON THE TWO EXCHANGES 11,345 CONTRACTS OR 1,134,500 OZ OR 35.287 TONNES
Estimated gold volume 161,736// poor//
final gold volumes/yesterday 114,103/ awful
INITIAL STANDINGS FOR DECEMBER 2022 COMEX GOLD //DEC 22
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 201.91 oz Delaware . |
| Deposit to the Dealer Inventory in oz | nil oz |
| Deposits to the Customer Inventory, in oz | 211,457.127 oz BRINKS HSBC 1101 kilobars and 5476 kilobars |
| No of oz served (contracts) today | 0 notice(s) 0 OZ 0 TONNES |
| No of oz to be served (notices) | 212 contracts 21200 oz 0.6594 TONNES |
| Total monthly oz gold served (contracts) so far this month | 20,287 notices 2,028,700 63.100 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 | xxx oz |
i)Dealer deposits: 0
total dealer deposit: nil oz
No dealer withdrawals
Customer deposits: 0
customer withdrawals: 2
i) Out of Delaware: 32,472.410 oz (1010 kilobars)
ii) Out of HSBC: 176,058.876 oz (5476 kilobars
Total withdrawals: 208,531.386 oz
total in tonnes: 6.48 tonnes
Adjustments: 2 dealer to customer account
a) Brinks 58,877.671
b) HSBC: 58,836.330 oz
customer to dealer/JPMorgan
i) 20,029.215 oz
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR DECEMBER.
For the front month of DECEMBER we have an oi of 212 contracts having LOST 15 contracts
We had 16 contracts served on WEDNESDAY, so we gained 1 contract or an additional 100 oz will stand for gold at the COMEX.
JANUARY LOST 18 contracts to stand at 1192
February GAINED 3781 contacts to 375,758
We had 0 notice(s) filed today for NIL oz
Today, 0 notice(s) were issued from J.P.Morgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 0 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0 notice(s) received (stopped) by the squid (Goldman Sachs)
To calculate the INITIAL total number of gold ounces standing for the DEC. /2022. contract month,
we take the total number of notices filed so far for the month (20,287 x 100 oz , to which we add the difference between the open interest for the front month of (DEC. 212 CONTRACTS) minus the number of notices served upon today 0 x 100 oz per contract equals 2,049,900 OZ OR 63.760 TONNES the number of TONNES standing in this active month of DEC.
thus the INITIAL standings for gold for the DEC contract month:
No of notices filed so far (20,287 x 100 oz+ (212 OI for the front month minus the number of notices served upon today (0} x 100 oz} which equals 2,049,900 oz standing OR 63.760 TONNES in this active delivery month of DEC..
TOTAL COMEX GOLD STANDING: 63.760 TONNES (A POOR STANDING//COMEX RUNNING OUT OF PHYSICAL TO SERVE UPON OUR LONGS.
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
COMEX GOLD INVENTORIES/CLASSIFICATION
we had one adjustment of 110,631.591 oz Brinks
NEW PLEDGED GOLD:
241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES
204,937.290 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 o
total pledged gold: 2,062,155.871 OZ 64,14 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 23,245,110.449 OZ
TOTAL REGISTERED GOLD:11,342,356.837 OZ (352.79 tonnes)..dropping fast
TOTAL OF ALL ELIGIBLE GOLD: 11,902,753.612 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 9,280,201 OZ (REG GOLD- PLEDGED GOLD) 288.65 tonnes//rapidly declining
END
SILVER/COMEX
DEC 22//INITIAL DEC. SILVER CONTRACT
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 493,395.630 oz HSBC Delaware JPMorgan |
| Deposits to the Dealer Inventory | nil OZ |
| Deposits to the Customer Inventory | 1,757,169.930 oz Brinks |
| No of oz served today (contracts) | 264 CONTRACT(S) (1,320,000 OZ) |
| No of oz to be served (notices) | 463 contracts (2,315,000 oz) |
| Total monthly oz silver served (contracts) | 4209 contracts (21,045,000 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 |
i) 0 dealer deposit
total dealer deposits: nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: oz
We have 1 deposits into the customer account
i) Into Brinks: 1,757,169.930 oz
Total deposits: 1,757,169.930 oz
JPMorgan has a total silver weight: 147.988 million oz/299.324 million =49.44% of comex .//dropping fast
Comex withdrawals: 3
i) Out of Delaware 5001.000 oz
ii) Out of HSBC: 11,223.050 oz
iii) Out of JPMorgan: 477,171.580 oz
Total withdrawals; 493,395.630 oz
adjustments: 1
b) customer to dealer Brinks 482,936.71 oz
the silver comex is in stress!
TOTAL REGISTERED SILVER: 36,019 MILLION OZ (declining rapidly).TOTAL REG + ELIG. 299.324MILLION OZ (also declining)
CALCULATION OF SILVER OZ STANDING FOR SEPT
silver open interest data:
FRONT MONTH OF DEC OI: 727 CONTRACTS HAVING LOST 336 CONTRACT(S.)
WE HAD 335 NOTICES FILED ON TUESDAY. SO WE LOST 1 CONTRACT OR 5,000 oz
WAS E.F.P.’d TO LONDON. WE ALSO HAD 0 CONTRACT EXCHANGE FOR RISK ISSUED FOR ZERO OZ.
JANUARY SAW A LOSS OF 80 CONTRACTS LOWERING TO 1399 CONTACTS.
FEB> LOST 0 CONTRACTS TO 120 CONTRACTS
March GAINED 21 contracts UP to 114,028 contracts
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 264 for 1,320,000 oz
Comex volumes// est. volume today 43,124// fair
Comex volume: confirmed yesterday: 37,680 contracts ( awful)
To calculate the number of silver ounces that will stand for delivery in DEC. we take the total number of notices filed for the month so far at 4209 x 5,000 oz = 21,045,000 oz
to which we add the difference between the open interest for the front month of DEC(212) and the number of notices served upon today 264 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the DEC./2022 contract month: 4209 (notices served so far) x 5000 oz + OI for front month of DEC (264 – number of notices served upon today (264) x 500 oz of silver standing for the DEC. contract month equates 23.360 million oz.. Also we have another criminal element to our silver oz standing, the use of Exchange for Risk/ Today an addition of 0 EFR contract transfers which are “Exchange for risk” settlements. I do not want to bore you but needless to say they are not physical transfers so are criminal in nature. There have been 2300 Exchange for Risk contracts settled during the first 22 days of the month for 11.500 million oz. Thus total delivery: 34.860 million oz.
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
Comex volumes:21,547// est. volume today// awful
Comex volume: confirmed yesterday: 74,745 contracts ( good)
END
GLD AND SLV INVENTORY LEVELS
DEC 22/WITH GOLD DOWN $29.35 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 913.88 TONNES
DEC 21/WITH GOLD FLAT TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.74 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 913.88 TONNES
DEC 20/WITH GOLD UP $27.05: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.73 TONNES INTO THE GLD////INVENTORY RESTS AT 912.14 TONNES
DEC 19/WITH GOLD DOWN $2.10: HUGE CHANGES IN GOLD INVENTORY AT THE GLD> A BIG WITHDRAWAL OF 3.47 TONNES FROM THE GLD//INVENTORY RESTS AT 910.41 TONNES
DEC 16/WITH GOLD UP $12.45: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.32 TONNES INTO THE GLD//INVENTORY RESTS AT 913.88 TONNES
DEC 15//WITH GOLD DOWN $31.00: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.16 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 911.56 TONNES
DEC 14/WITH GOLD DOWN $6.20: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.32 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 912.72 TONNES
DEC 13/WITH GOLD UP $32.75: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.32 TONNES INTO THE GLD///INVENTORY RESTS AT 910.41
DEC 12/WITH GOLD DOWN $17.60: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 908.09 TONNES
DEC 9/WITH GOLD UP $8.90//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 908.09 TONNES
Dec 8/WITH GOLD UP $4.05, OVER THE PAST 3 WEEKS WE LOST 2.04 TONNES//INVENTORY RESTS AT 908.09 TONNES
NOV 14/WITH GOLD UP $7.30: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD///INVENTORY RESTS AT 910.12 TONNES
NOV 11/WITH GOLD UP $15.25//BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.19 TONNES INTO THE GLD////INVENTORY RESTS AT 911.57 TONNES
NOV 10/WITH GOLD UP $40.75: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 908.38 TONNES
NOV 9/WITH GOLD DOWN $2.00: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.89 TONNES INTO THE GLD////INVENTORY RESTS AT 908.38 TONNES
NOV 8/WITH GOLD UP $34.40: BIG CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 1.47 TONNES FROM THE GLD//: INVENTORY RESTS AT 905.49 TONNES
NOV 7/WITH GOLD UP $2.95: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.63 TONNES FROM THE GLD//INVENTORY RESTS AT 906.96. TONNES
NOV 4/WITH GOLD UP $44.45 TO $1673.30: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.48 TONNES FROMTHE GLD////INVENTORY RESTS AT 911.59 TONNES.
NOV 3/WITH GOLD DOWN $18.30 TO $1628.85: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.05 TONNES FROM THE GLD////INVENTORY RESTS AT 915.07 TONNES
NOV 2/WITH GOLD UP 55 CENTS TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD///INVENTORY RESTS AT 919.12 TONNES.
NOV 1/WITH GOLD UP $9.20 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.02 TONNES FORM THE GLD../INVENTORY RESTS AT 920.57 TONNES
OCT 31/WITH GOLD DOWN $4.00; BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.61 TONNES FROM THE GLD//INVENTORY RESTS AT 922.59. TONNES//
OCT28/WITH GOLD DOWN $19.70 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.19 TONNES FROM THE GLD..///INVENTORY RESTS AT 925.20 TONNES
OCT 27/WITH GOLD DOWN $3.80: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 928.39 TONNES
OCT 26/WITH GOLD UP $11.65 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 928.39 TONNES
OCT 25/WITH GOLD UP $3.85: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .29 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 928.39 TONNES
OCT 24/WITH GOLD DOWN $1.80 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.89 TONNES FROM THE GLD////INVENTORY RESTS AT 928.10 TONNES
OCT 21/WITH GOLD UP $19.10: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.74 TONNES FROM THE GLD///INVENTORY RESTS AT 930.99 TONNES
OCT 20/WITH GOLD UP $2.40: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 6.08 TONNES FROM THE GLD///INVENTORY RESTS AT 932.73 TONNES
OCT 19/WITH GOLD DOWN $20.65:: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .29 TONNES FROM THE GLD////INVENTORY RESTS AT 938.81 TONNES
OCT 18/WITH GOLD DOWN $7.40: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.03 TONNES FROM THE GLD////INVENTORY RESTS AT 939.10 TONNES
OCT 17/WITH GOLD UP $14.55: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.28 TONNES FROM THE GLD///INVENTORY RESTS AT 941.13 TONNES
OCT 14/WITH GOLD DOWN $26.50 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.16 TONNES FROM THE GLD///INVENTORY RESTS AT 944.31 TONNES
OCT 13/WITH GOLD DOWN $0.40 TODAY: A DEPOSIT OF 1.16 TONNES INTO THE GLD// CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 945.47 TONNES
OCT 12/WITH GOLD UP $4.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 944.31 TONNES
GLD INVENTORY: 913.88 TONNES
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
DEC 22/WITH SILVER DOWN 53 CENTS TODAY;NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 507.90 MILLION OZ//
DEC 21/WITH SILVER DOWN 9 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.0 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 507.90 MILLION OZ//
DEC 20/WITH SILVER UP 105 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV:: A DEPOSIT OF 700,000 OZ INTO THE SLV///INVENTORY RESTS AT 509.90 MILLION OZ//
DEC 19/WITH SILVER DOWN 13 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.05 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 509.20 MILLION OZ//
DEC 16/WITH SILVER UP 2 CENTS; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.85 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 508.15 MILLION OZ//
DEC 15/WITH SILVER DOWN 78 CENTS: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF EXACTLY 2.00 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 510.000 MILLION OZ
DEC 14/WITH SILVER UP 7 CENTS: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.7 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 512.000 MILLION OZ//
DEC 13/WITH SILVER UP 59 CENTS: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 600,000 OZ FROM THE SLV////INVENTORY RESTS AT 513.900 MILLION OZ//
DEC 12/WITH SILVER DOWN 33 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 514.500 MILLION OZ//
DEC 9/WITH SILVER RISING 77 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.2 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 514.500 MILLION OZ.
DEC 8/WITH SILVER RISING 34 CENTS TODAY: OVER THE PAST 3 WEEKS, WE HAVE GAINED A STRONG: 44.777 MILLION OZ/INVENTORY RESTS AT 516.700 MILION OZ.
NOV 14/WITH SILVER UP 41 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 471.923 MILLION OZ//
NOV 11/WITH SILVER DOWN 2 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 553,000 OZ FROM THE SLV///INVENTORY RESTS AT 471.923 MILLION OZ//
NOV 10/WITH SILVER UP 39 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV; A DEPOSIT OF 368,000 OZ INTO THE SLV///INVENTORY RESTS AT 472.476 MILLION OZ//
NOV 9/WITH SILVER DOWN 10 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV/; A WITHDRAWAL OF 3.821 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 472.108 MILLION OZ//
NOV 8/WITH SILVER UP 48 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.751 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 475.929 MILLION OZ//
NOV 7/WITH SILVER UP 12 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 477.678 MILLION OZ//
NOV 4/WITH SILVER UP $1.31 TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.972 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 477.678 MILLION OZ//
NOV 3.WITH SILVER DOWN 16 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 566,000 OZ FROM THE SLV////INVENTORY RESTS AT 482.650 MILLION OZ//
NOV 2/WITH SILVER DOWN 9 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 92,000 OZ FROM THE SLV////INVENTORY RESTS AT 483.216 MILLION OZ//
NOV 1/WITH SILVER UP 53 CENTS TODAY:SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 415,000 OZ FORM THE SLV////INVENTORY RESTS AT 483.308 MILLION OZ
OCT 31: WITH SILVER FLAT: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF .644 MILLION OZ FROM THE SLV/INVENTORY RESTS AT 483.723 MILLION OZ//
OCT 28/WITH SILVER DOWN 35 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 276,000 OZ INTO THE SLV////INVENTORY RESTS AT 484.367 MILLION OZ//
OCT 27/WITH SILVER UP 3 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE S: A WITHDRAWAL OF 2.579 MILLION OZ FROMTHE SLV/////INVENTORY RESTS AT 484.091 MILLION OZ//
OCT 26/WITH SILVER UP 11 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.013 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 486.670 MILLION OZ./.
OCT 25/WITH SILVER UP 17 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.083 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 487.683 MILLION OZ/
OCT 24/WITH SILVER UP 6 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF .553 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 485.610 MILLION OZ//
OCT 21/WITH SILVER UP 43 CENTS: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF .46 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 486.163MILLION OZ//
OCT 20/WITH SILVER UP 33 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF .921 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 485.703 MILLION OZ//
OCT 19/WITH SILVER DOWN 27 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.105 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 486.624 MILLION OZ///
OCT 18/WITH SILVER DOWN 5 CENTS:BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.658 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 487.729 MILLION OZ///
OCT 17/WITH SILVER UP 53 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.151 MILLION OZ INTO THE SLV////INVENTORY REST AT 486.071 MILLION OZ//
OCT 14/WITH SILVER DOWN 77 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.211 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 484.920 MILLION OZ//
OCT 13/WITH SILVER DOWN 2 CENTS TODAY: BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.513 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 482.709 MILLION OZ//
CLOSING INVENTORY 507.90 MILLION OZ//
PHYSICAL GOLD/SILVER STORIES
1:Peter Schiff
Peter Schiff: The Private Sector Can Lead Us Back To A Gold Standard
zerohedge.com/markets/peter-schiff-private-sector-can-lead-us-back-gold-standard
WEDNESDAY, DEC 21, 2022 – 10:20 PM
Peter Schiff recently appeared on the Jay Martin Show. During the interview, explains how the private sector can ultimately lead the world back to a gold standard.
Early in the discussion, Peter talks about investing, saying people need to be in something besides cash.
People have to go somewhere. I think you just can’t be in cash because all of these governments are just printing too much money. The inflation problem is worldwide. And it’s because all of these central banks made the same mistake.”
The world’s central banks basically followed the lead of the Federal Reserve.
We kind of corrupted the monetary policy of the whole world.”
As the US cut rates to zero, other major central banks did the same. In fact, some implemented negative interest rate policies to get their rates below America’s.
But Peter said the dollar’s status as the world reserve currency won’t last forever.
I think the world is going to reject the dollar. It’s already happening.”
Peter noted the de-dollarization efforts in many countries due to the fact that the US has weaponized the dollar and used it as a foreign policy tool.
Peter said when the dollar falls from its peak, Americans will face a rapidly declining standard of living.
America’s ability to live beyond its means is a function of the dollar’s reserve status. Because we can print dollars and use those dollars that we print to buy goods and services — mainly goods that we didn’t produce.”
So, what will replace the dollar?
There is no question that gold is going to re-emerge as the monetary unit of choice for the world. It’s not an accident that gold was money for 5,000 years. It’s been money for so long because it works.”
But Peter said he doesn’t think a new gold standard will be imposed by governments.
I think that the free market is going to reject the dollar and other currencies because they’re a flawed form of money because they are no longer a store of value.”
Peter pointed out that other private entities have undercut government monopolies in the past. For instance, FedEx and UPS managed to crack the US Post Office monopoly on parcel delivery.
And with the advancement of technology, it’s now possible to easily transact business in gold. Blockchain technology makes it possible to tokenize gold and easily transfer it from one party to another.
Bitcoin guys are like, ‘Oh, see, blockchain is the death of gold.’ No, it’s going to lead to the rebirth of gold. Because bitcoin is what we don’t need. Gold is what gives the digital currency its value.”
Jay brought up the point that a gold standard facilitated through the blockchain would still depend on third parties for payment processing and gold storage. But Peter argued that we’ve always depended on third parties. That’s not a problem in a competitive free market. The problems arise when that third party is a government.
We’ve always been trusting third parties and it’s worked. The only time it doesn’t work is when the third party is a government. That’s when they screwed us.”
Peter said he thinks the private sector will lead the world back to a gold standard because there ultimately is a demand for sound money.
The government has a monopoly on money and we’re being overcharged through inflation to use government money. So, the private sector comes up with an alternative.”
During this interview, Peter and Jay also talk about inflation, jobs, the FTX collapse, stocks, investing, and more.
end
2 Lawrie Williams//Pam and Russ Martens/Jim Rickards/Mathew Piepenburg/Von Greyerz//Rickards:
Mathew Piepenberg:
History Lesson: Trust Gold Rather Than Sovereigns
THURSDAY, DEC 22, 2022 – 07:20 AM
Authored by Matthew Piepenburg via GoldSwitzerland.com,
Below, we consider a blender of history, simple math, sober facts and comical arrogance to better understand gold’s loyalty in a time of disloyal financial stewardship.
Hubris Comes Before the Fall
History (whether on battle fields or sports fields) is riddled with tragi-comical examples of human blundering (and hubris) in the face of otherwise obvious and self-inflicted risk—you know: The final swagger just before imminent defeat.
Remember “Mission accomplished”?
Like well-dressed officers steaming the Titanic at full speed ahead despite repeated ice warnings, the arrogant yet misguided faith our central planners/bankers have in their “unsinkable” financial (i.e., Keynesian) models and verbal platitudes is astonishing.
If the financial model, for example, says “raise rates to fight inflation,” then the model must be right—especially given the credentials of our elite “model followers,” all collectively swimming within an echo-chamber of model-making, yes-saying, self-selecting and PhD-affirming back-slappers from MIT to Stanford, U-Chicago to Harvard Yard.
Linear Models & Thinking in a 3D World: Fantasy vs. Complexity
Yet such singularity of purpose and linear thinking (recently exemplified by openly failed COVID vaccine “models” and backfiring Putin sanctions) in an otherwise three-dimensional backdrop of ignored complexity theory reveals a staggering incapacity among our so-called policy-leaders to consider the side effects (and astonishing collateral damage) of such singular goals—such as “defeating inflation.”
Just like Napoleon’s war (and singular focus) against the Russian Tzar in 1812 ignored the subtleties of cold weather and the panache of the Cossacks, resulting in the destruction of his Grande Armee as graphically seen here…
…the Fed’s 2022 war (and singular focus) against inflation has equally ignored the subtleties of budget deficits, currency expansion and the panache of natural market forces, resulting in the destruction of the all-mighty USD’s purchasing power as graphically seen in almost identical fashion here:
In short: Powell is missing the bigger picture.
At a recent Brookings Institute presentation, for example, a mathematically cornered J. Powell repeated his heroic aim to defeat inflation (which the year before he claimed was “transitory”) and bring CPI levels back toward the carefully-modelled 2% range.
That’s all very Napoleonic, but what a linear-thinking Powell deliberately failed to consider in his tough-talk included some other critical, percolating yet ignored 3-dimensional themes (and alternative/ignored facts) of economic Realpolitik, namely a string of crises (icebergs) relating to balance of payments, fiscal expansion, debt destruction and currency risk.
Free Advice to Expensive Leaders
Perhaps one of Powell’s sub-lieutenants ought to remind him of some of the following tactical considerations (i.e., hard realities) which the Fed has missed in its “blinders-on” effort to defeat inflation via rising rates.
In other words, here’s some free advice and timely reminders of what central bankers like Powell might want to consider, namely:
* US tax receipts (crippled by tanking capital gains from a tanking market thanks to spiking rates) have fallen 11% y/y and getting worse;
* Uncle Sam’s bar tab (USTs, or “IOUs”) is heading toward annual levels of $4-$5 trillion (with a T), which means the global supply of US Treasuries is poised to overtake global GDP growth as bonds tank and yields rise, thus killing everything in their wake except for a temporarily and Frankenstein-strong USD;
* Last month, Federal deficits expanded to record-high levels of $249 billion;
* No one wants Uncle Sam’s debt. The recent auction for 10-Year USTs was a disaster, adding more downward pressure on bonds and hence upward pressure on US yields (above 3.6%) and rates—all of which makes repaying combined US public, private and corporate debts ($90T) one step closer to its breaking point;
* By “tightening” the money supply (QT) to “fight inflation,” Powell has decapitated M2 supply growth (i.e., needed liquidity, lower line below) from 25% to basically 0%– and all he has to show for his linear “war” against inflation is a mis-reported decline in an otherwise misreported and bogus CPI rate from 8% to 7.1%. That’s what historians call a “pyric victory”:
*US Federal deficits are growing at far greater rates than world GDP growth, which means that there is mathematically, empirically, objectively and candidly not enough natural demand for Uncle Sam’s desperate IOU’s to be “bought” unless the Fed re-ignites a money printer (i.e., “pivots”) to absorb/purchase the same. If not, bonds will literally tank and the relatively strong and poisonous USD will move fatally and sharply higher along with rising yields/rates.
American Exceptionalism: A Debt-Soaked Paper Tiger
It seems General Powell has forgotten that the post-08, Fed-distorted (i.e., debt-driven) dystopia of American “exceptionalism” is a nothing more than a financial and economic paper tiger that is highly sensitive to rising rates and tanking markets, making the odds of a U.S. “soft landing” about 0%.
Instead, and as warned all year, the US and global economy is effectively (i.e., already) on its debt-poor knees, and when, not if, we officially arrive at the hard landing of a local and global recession marked by tanking US (and other sovereign) bond markets, global yields will spike “gilt-like” –ushering in a period of global market and economic dysfunction far beyond the pale of anything seen prior.
The Blame Game
It also seems that Powell (like all the other central bankers on the BIS pay-roll which influence all global leaders/puppets) doesn’t like to face bad news until the situation is already too bad to fix.
At that point, it then becomes necessary to blame their financial sins on a flu, a Russian bad guy or a global warming fear campaign.
But what none of these current excuses can hide is the simple fact that our global, fatal and entirely central bank created $300+ trillion debt bubble was in motion long before the current excuses (lies) became the scapegoats for the failures of our central-banking real goats.
The Bond Market is THE Thing
In short, and as we’ve consistently warned for years, “the bond market is the thing,” and when it goes, so does just about everything else.
And by the way: That bond market is dying right before our wide-open eyes.
If this seems hard to believe or “sensational,” just consider what Bank of America already knows, namely that global government bonds are poised to record their 6th worst annual return since 1700. Yes, 1700.
In my view, such bad news for our embarrassing credit markets is only about to get worse, not better.
Why?
Because if US deficits were “just” 32% of global GDP growth in 2022, think what 2023’s bond markets will do when those deficits grow wider—far wider into a new year with even less available global balance sheets to purchase the debt of increasingly bankrupt/broke nations.
Even Blackrock has lost its appetite for sovereign bonds, which, without money-printer support, are nothing more than junk bonds hiding behind well-dressed prompt-readers and absolutely clueless (and increasing cashless) Treasury Secretaries.
The Trillion Dollar Question
So, with all these unwanted, un-supported and unpayable bonds floating around the globe, will the Fed eventually do what the markets have already priced in and thus re-heat the money printers and mouse-clicked Dollars?
In other words, will more inflationary QE come back despite Powell’s public QT ruse to fight inflation?
Failing the anticipated QE pivot and liquidity injection, bonds will tank, which means stocks will tank and the only asset rising before investors’ watering eyes will be an otherwise artificially rising USD.
In short: Should Powell continue with his linear QT model to avoid the inflationary shame and legacy of an Arthur Burns by embracing the fantasy comparison to Paul Volcker, the very “everything bubble” which the Fed alone created will end in a global recession of which the Fed also singularly created.
This is because centralized global markets are now entirely and unnaturally driven by central banks rather than natural supply and demand forces.
Or stated otherwise: The Fed giveth, and the F ed taketh away.
Chaos: It’s Now Inevitable Rather than Theoretical
All things (and hence markets) so rigged, centralized and artificial ultimately result in destruction.
Whether 2023 witnesses more QT, or a resigned and panicked pivot to QE, the end result is the same: Chaos of one form or another is just around the corner.
Either we suffer 1) a deflationary implosion of global risk assets and economies, or 2) an inflationary surrender to more currency-destroying QE.
As I’ve said elsewhere, Powell and the rest of us will have to pick our poison. But in my view, we are likely to see both.
Two Poisons at Work
That is, the one-dimensional and arrogant “modeled” mind of Powell will tighten (de-or-dis-inflationary) until the markets truly break in a backdrop of fatally rising yields and rates.
Then, as if the global economy can be turned up or down like a home thermostat, Powell will throw in the towel and print more fake money (inflationary).
But not long after that critical pivot moment, Powell will discover what most folks in Germany (where energy costs are 12% of economic output) already know, namely: Your thermostat doesn’t work and your left standing in the cold.
Like too much of anything (from martinis to steroids), eventually the stimulus effect of fatally debased, mouse-clicked money fades.
At that point, rather than enjoy the old buzz or high, markets and economies will suffer the puking sensation of a global hangover. Translated to simple speak: Not even more QE will save us.
Again: More chaos, however you look at it.
But what does that mean for precious metals like gold?
Gold Loves Chaos
As I’ve argued throughout 2022, an artificially rising USD has been an obvious headwind to USD-priced gold.
But should the USD rise even further and longer under a fork-tongued Powell, and even if the DXY resumes its bumpy gyrations south and then north again, not even a stronger Dollar (or rigged COMEX market) can keep gold forever repressed.
This is because a too-strong USD under continued Powell tightening will expand the aforementioned deficit levels and GDP growth ratios to a breaking point which cripples credit markets, destroys equity markets and knee-caps economies.
When this happens, faith in the system, as well as the individuals who run them, will rightfully disintegrate faster than SBF’s weird sex life.
It is precisely at such moments of lost faith, as I recently discussed with Grant Williams, in which gold shines brightest.
Alternatively, should Powell try to restore illiquid markets with a pivot toward more QE, the net result will be an inflationary and historic tailwind of currency debasement which will send gold in an equally northern direction.
Most Still Trust the Wrong Things
Despite such undeniable pressures on stocks and bonds, investors still think bonds will save them, especially once the Fed inevitably (who knows the date?) resumes its artificial support of the credit markets.
This might explain the bemused observations of our colleague and advisor, Ronni Stoeferle, who recently tweeted that investors remain the most underweight commodities relative to bonds since April of 2009.
Sadly, such misguided investor behavior is often a superior contra indicator in times of percolating market stress, as most investors run to the wrong assets at precisely the wrong time, a phenomenon we’ve seen at the edge of every market bubble from the NIKKEI in the late 80’s to MBS in 2008.
But let’s not poke fun at the wrong-headed behavior of retail investors when there’s so much more to learn from the wrong-headed behavior of our policy makers and sovereign leaders.
Please: Don’t Trust the “Experts”
As I wrote long ago (even before the insanity of a global lock-down, the corruption of a crypto exchange and the comic tragedy of an avoidable war with–and sanctions against—Russia), we would all be better served trusting our own judgement and objective facts rather than the self-interest and invented facts of our so-called elites.
That is: It’s not always wise to trust the experts and their so-called “models”—be they economic, political or scientific.
Yes, lofty titles and superior educations are attractive and seductive.
The best educations, after all, were at least ostensibly designed (once upon a time) to teach critical thinking and the capacity to challenge rather than blindly follow historical models which no longer work.
But such educations, and such critical thinking, are entirely wasted on the uncreative, the “post-modernist” corrupt and the consensus-driven.
As stated above, uber-Keynesian US financial leadership (entirely ignorant to the debt lessons of the Austrian School) is the product of old models and PhD themes shared among a cabal of policy makers wandering the campuses from Cambridge and Chicago to NYC and Stanford with an eye toward public safety in numbers and private self-promotion from the inside.
This explains the small (and profoundly self-interested) thinking of Treasury Secretaries like Summers or Yellen, the Ignoble Prizes awarded to figures like Bernanke or the confusion of cornered Fed Chairs like Powell.
They simply won’t admit the failures of their career-enhancing models…
Thanks to years of confusing unprecedented debt with economic growth, and decades of replacing sound money with mouse-clicked money, our global credit and equity bubbles are now morphing into their final gasps of currency bubbles already popping in every corner of the globe but for the U.S. and its currently strong but otherwise doomed USD.
But that bubble too will do what all bubbles do: Pop.
And when (and as) it pops, now and in the months ahead, gold will do what it has always done: Provide loyal currency support for systems destroyed by disloyal leadership.
end
3. Chris Powell of GATA provides to us very important physical commentaries//
Central bank suppression of gold and silver cannot go on much longer says Eric Sprott
(Chris Powell/Eric Sprott)
Central bank suppression of monetary metals can’t last much longer, Sprott says
Submitted by admin on Wed, 2022-12-21 20:59Section: Daily Dispatches
9:04 p ET Wednesday, December 21, 2022
Dear Friend of GATA and Gold (and Silver):
In his year-end interview with Craig Hemke of the TF Metals Report for Sprott Money, mining entrepreneur Eric Sprott says he is most enthusiastic about silver and that central bank suppression of gold and silver prices can’t last much longer under the pressure of rising demand for real metal.
Sprott repeatedly cites the work of GATA and silver market rigging opponent and market letter writer Ted Butler of Butler Researc
Sprott says gold and silver have had a better year than most other financial assets and it’s still early in the new bull market for the metals. He also explains some of the criteria he uses for investing in mining companies.
The interview is 37 minutes long and can be viewed at YouTube here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
END
GOLD/SILVER
/4. OTHER PHYSICAL SILVER/GOLD COMMENTARIES
5. Commodity commentaries//LUMBER
Lumber prices collapse in sympathy with homebuilder sentiment
(zerohedge)
Lumber Prices Collapse As Homebuilder Sentiment Falters
THURSDAY, DEC 22, 2022 – 04:15 AM
Lumber peaked at $1,336 per thousand board feet in late February but has settled at around $380 this week, representing a dramatic 72% decline in prices, primarily due to elevated mortgage rates, slowing housing activity, waning builder confidence, and overall mounting macroeconomic headwinds.
The plunge in lumber prices is no surprise as builder confidence for newly-built single-family homes posted its 12th consecutive month of declines in December, according to the National Association of Home Builders. Confidence is at its lowest reading since mid-2012.
Besides dismal homebuilder sentiment, housing starts and building permits for November also showed deterioration in the housing industry. The number of housing starts (SAAR) is at the lowest since June 2020.
Forward-looking housing Permits are down over 22% YoY – the most significant drop since 2009 (with single-family permits -29.7% YoY and multi-family down 10.7%)…
Single-family building permits will likely move lower as homebuilder expectations for future sales are at decade lows..
Weaker housing conditions will persist into 2023 and are explicitly weighing on lumber demand, and thus lumber prices.
Lumber prices are expected to remain range bound between $400 and $200 until Jay Powell is forced to cut interest rates back to zero due to the recession and sparks the next housing craze.
Framing, paneling, and plywood, types of lumber used to build a home, are well off their highs. Remember when plywood at Home Depot was fetching nearly $100 per sheet?
If you waited for the lumber bubble to deflate — this might be the perfect time to buy.
END
6/CRYPTOCURRENCIES/BITCOIN ETC
Caroline Ellison throws SBF under the bus as she pleads guilty to fraud and agrees to cooperate with the DOJ
(zerohedge)
Caroline Ellison Throws SBF Under The Bus: Pleads Guilty To Fraud, Agrees To Cooperate With The DOJ
Update (1045ET): As part of the recently unsealed plea agreement with the US Attorney’s Office of the Southern District of New York, CoinDesk reports that if Ellison fully cooperates with the SDNY’s investigation (in throwing her boyfriend under the bus), as well as any other law enforcement agency designated by the office, she won’t be further prosecuted criminally.
While the deal does not guarantee that other agencies will not pursue prosecution at a later date, it appears the former Alameda exec will be spared of all major charges, which could have seen her sentenced to up to 110 years in prison.
Ellison was accused of seven counts.
Two accused her of committing wire fraud on customers of FTX and engaging and conspiring to do so.
Another two alleged she committed wire fraud on the lenders of Alameda Research and conspired to do so.
Count five charged her with conspiracy to commit commodities fraud, and count six alleged conspiracy to commit securities fraud on FTX’s equity investors.
The seventh count accused her of conspiring to commit money laundering.
The Attorney’s Office agreed not to prosecute Ellison on any of those seven counts in exchange for her cooperation — the complete disclosure of all the information and documents demanded by prosecutors.
Ellison will be permitted bail, provided she can provide a $250,000 personal recognizance bond and restrict travel to the continental United States.
She will also need to surrender any travel documents she has.
Finally, CoinDesk points out one interesting side-note in that the plea deal also contains language that says if Ellison is not a US citizen, it is very likely that her removal from the US will be mandatory. While it’s assumed that Ellison is a US national, it is possible she may have abandoned her nationality for a citizenship of convenience for tax reasons which is a popular trend among some crypto traders living abroad, as the US taxes non-residents.
It appears Bankman-Fried’s girlfriend found a way to screw him one last time.
THURSDAY, DEC 22, 2022 – 01:13 AM
Two weeks ago, when amid reports that the former CEO of Alameda Capital (which as a reminder was ground zero of the FTX implosion after it blew up $8 billion in FTX client funds on trades gone horribly wrong), Caroline Ellison, was spotted in New York just after retaining Clinton superlawyer, Jamie Gorelick of Wilmer Hale, which as readers may recall was the former No. 2 ranking member in the Clinton Justice Department, and in a recent interview, she referred to current AG Merrick Garland as her “wingman”, we asked if Caroline had rolled on Sam Bankman-Fried, who was also her former lover.
Fast forward to today when we just got confirmation that Caroline Ellison has fucked Bankman-Fried one final time by indeed rolling on him, and “turning states” in the criminal prosecution of the corpulent “Hairy Plotter“, who commingled and stole the client money in his FTX exchange to fund a series of terrible crypto bets at his personal hedge fund Alameda, fund tens of millions in donations to democrats and buy up prestigious real estate for himself and his “altruistic” progressive lawyer parents.
According to a Manhattan Federal prosecutor, two of FTX founder Sam Bankman-Fried’s closest associates have pleaded guilty to fraud and agreed to co-operate with US authorities investigating the collapse of the bankrupt cryptocurrency exchange. In other words, they took a plea deal to avoid even more prison time in exchange for serving SBF on a silver platter to the Feds.
Damian Williams, the US attorney for the Southern District of New York, announced the guilty pleas and criminal charges against Caroline Ellison and Zixiao “Gary” Wang, the low profile co-founder of FTX, in a short video statement. His office had brought eight charges against Bankman-Fried last week.
Ellison pleaded guilty to seven counts, including wire and securities fraud and conspiracy to commit money laundering, which carry a maximum sentence of 110 years in prison, while Wang pleaded guilty to four counts of fraud, with a maximum 50-year sentence.
The documents said prosecutors would not oppose bail requests from both defendants under certain conditions, including posting a bond and handing in their travel documents, as they awaited formal sentencing.
Concurrently, the Securities and Exchange Commission and the Commodity Futures Trading Commission also filed civil lawsuits against the 28-year-old Ellison and 29-year-old Wang, accusing them of fraud.
“As part of their deception, we allege that Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,” said SEC chair Gary Gensler. Furthermore, as CEO of the FTX trading affiliate, Ellison “used FTX’s customer assets to pay Alameda’s debts” and diverted billions of dollars of depositors’ money to the company to fill a hole caused by a crypto market crash in May, the SEC’s complaint alleges.
The CFTC said Wang had a hand in creating some of the algorithms that underpinned FTX, which allowed Alameda “to maintain an essentially unlimited line of credit” on the exchange, giving it an “unfair advantage” over regular depositors. “These critical code features and structural exceptions allowed Alameda to secretly and recklessly siphon FTX customer assets from the FTX platform.”
Both defendants are co-operating with the SEC, the agency said. The CFTC said they were not contesting their liability. Which means that SBF is looking at a lot of prison time, unless he too can throw someone even more important and powerful under the bus…
… although if that is the case, he probably will be Epsteined within hours of arriving at MDC Brooklyn, singe MCC New York where Epstein “killed himself”, has been closed since August 2021 due to deteriorating conditions.
While Ellison’s superlawyers have yet to make a statement, a lawyer for Wang, Ilan Graff, said: “Gary has accepted responsibility for his actions and takes seriously his obligations as a co-operating witness.”
Last week, the DOJ filed charges against Bankman-Fried and accused him of orchestrating “one of the biggest financial frauds in American history” by misappropriating customer assets from FTX to Alameda Research. He was arrested in the Bahamas, where he lives. He is also facing parallel civil cases from the SEC and CFTC.
Williams reiterated his call for others who worked with Bankman-Fried to come forward. “If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it,” he said. “We are moving quickly and our patience is not eternal.” One of them is former Alameda CEO Sam Trabucco, best known for quietly bailing on Sam just as everyone was about to blow up and fleeing on his multi-million dollar new yacht.
The announcement from Williams comes just after a plane carrying Bankman-Fried took off from the Bahamas, where he waived his right to challenge extradition to the US. He is due to appear in a Manhattan court as soon as Thursday, where his bail request will be considered, although in light of Caroline’s plea, it is safe to say it won’t be granted.
END
Bankman Freed: “Broke” SBF Released On $250 Million Bond, Agrees To House Arrest In Parents’ House
THURSDAY, DEC 22, 2022 – 01:39 PM
Update (1330ET): After spending nine days in Bahamian jail, Sam Bankman-Fried arrived in a Manhattan federal courtroom to face fraud charges over the collapse of FTX. Handcuffed and dressed in a blue suit, he appeared at a bail hearing after entering a plea ahead of the hearing.
And then the shocker came: SBF – who is arguably the biggest flight risk in US criminal history – will be released on $250 million bond after consenting to a bail package that include a $250 Million bond, house arrest at his parent’s house in Palo Alto, location-monitoring, and the surrender of his passport.
According to Assistant U.S. Attorney Nicolas Roos, Bankman-Fried was responsible for perpetrating a “fraud of epic proportions.” However, he chose to allow for bail given that Bankman-Fried opted to waive extradition; furthermore, according to prosecutors the $250MM is the “largest-ever pre-trial bond” although in SBF’s case it is just more stolen client funds. That means it won’t be a problem to procure it even though just two weeks ago Sam claimed he only has $100,000 left to his name.
When agreeing on the bail, US Magistrate Judge Gabriel Gorenstein said that “the risk that Bankman-Fried would flee was small” and said he presented no danger to the public in terms of future financial crimes.
As part of his bail agreement, besides his monetary penalty, Bankman-Fried will have to wear an electronic monitoring bracelet, and be disallowed from leaving the Northern District of California. Judge Gabriel Gorenstein added that Bankman-Fried would require “strict” supervision during his stay.
He will also have to submit to mental health counseling. The ex-CEO has previously claimed to be depressed and “sad” for an extended period of time and required medication to cope.
The former FTX boss will be prevented from taking out any new lines of credit while he awaits trial.
Bankman-Fried’s “effective altruist” mother, who personally benefited from her son’s crimes, was also at the court hearing.
Barbara Fried, a professor emerita at Stanford Law School, was seen laughing during Bankman-Fried’s hearing earlier this month in the Bahamas when her son was called a “fugitive.” At other times, during that hearing, she “clenched her jaw and chewed on the frames of her glasses,” according to a report in the New York Times.
Well she isn’t laughing any more as she is forced to cosign the bail agreement, placing her properties as collateral.
Bankman-Fried, who faces eight counts — including conspiracy to commit wire fraud on customers and lenders, money laundering and violations of campaign finance laws — could spend the rest of his life in prison if convicted.
As reported last night, Caroline Ellison, who ran FTX’s trading affiliate Alameda, and Gary Wang, a co-founder of FTX itself whom authorities accuse of writing the underlying code that disadvantaged the exchange’s regular customers, both agreed to co-operate with federal prosecutors, Damian Williams, the US attorney in Manhattan, said. The announcement of the guilty pleas came shortly after Bankman-Fried flew to New York from the Bahamas, where he was living and had been arrested, having earlier waived his right to challenge extradition.
Legal experts have said the money being transferred to Alameda is very hard to explain as mismanagement rather than fraud, and his former associates’ testimony would be devastating for Bankman-Fried. Confronted by such witnesses, defendants in other cases have tried to turn the tables and cast them as the true bad actors.
Bankman-Fried could try to make a deal himself, but he may not get much leniency since he’s likely at the top of the prosecution’s target list, so unless he dangles a much higher profile target, he will be out of luck (or be ignored, since any “target” SBF could rat on is most likely some powerful Democrat politician whose favor he tried to bribe). Meanwhile, more cooperators could emerge. Williams issued a warning to potential witnesses in a statement Wednesday night.
“If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it,” Williams said. “We are moving quickly and our patience is not eternal.”
END
1. YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS//
THURSDAY MORNING.7:30 AM
ONSHORE YUAN: DOWN TO 6.9813
OFFSHORE YUAN: 6.9885
SHANGHAI CLOSED DOWN 13.98 PTS OR 0.46%
HANG SANG CLOSED UP 518.73 OR 0.34%
2. Nikkei closed DOWN 180.31 PTS OR 2.71%
3. Europe stocks SO FAR: MOSTLY RED
USA dollar INDEX UP TO 103.75 Euro RISES TO 106.33 UP 25 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +.386!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 132.02/JAPANESE YEN RISING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK.
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 YUAN: DOWN-// OFF- SHORE: DOWN
3f Japan is to buy the 9 TRILLION YEN’S worth of BONDS. Japan’s GDP equals 5 trillion usa
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and UP FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund DOWN TO +2.340%***/Italian 10 Yr bond yield RISES to 4.465%*** /SPAIN 10 YR BOND YIELD RISES TO 3.420…** DANGEROUS//
3i Greek 10 year bond yield RISES TO 4.45//
3j Gold at $1813.90//silver at: 23.69 7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 17/100 roubles/dollar; ROUBLE AT 70.82//
3m oil into the 79 dollar handle for WTI and 81 handle for Brent/
3n Higher foreign deposits out of China sees 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 132.03
30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.9265– as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9852 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.
USA 10 YR BOND YIELD: 3.656% DOWN 3 BASIS PTS…GETTING DANGEROUS
USA 30 YR BOND YIELD: 3.732% DOWN 1 BASIS PTS//
USA DOLLAR VS TURKISH LIRA: 18,67…
GREAT BRITAIN/10 YEAR YIELD: 3.6515 % UP 2 BASIS PTS
end
i.b Overnight: Newsquawk and Zero hedge:
FIRST, ZEROHEDGE (PRE USA OPENING// MORNING
Futures Rally Fizzles After Micron’s Downbeat Outlook Saps Sentiment
THURSDAY, DEC 22, 2022 – 08:03 AM
US stock futures reversed gains from earlier in the session and struggled to hold the momentum that propelled the S&P 500 to its best daily gain in three weeks, as investors assessed whether the world’s biggest economy can skirt worst-case recession scenarios. Contracts on the Nasdaq 100 and the S&P 500 were both 0.3% lower at 7:30 am ET, erasing earlier gains of 0.3%. Both indexes had bounced on Wednesday following better-than-expected earnings from FedEx and Nike as well as a pickup in consumer confidence, but the mood was dampened by memory chipmaker Micron, whose gloomy outlook knocked its shares in US premarket trading and weighed on other chip firms. European semiconductor shares also fell, erasing earlier gains on the Stoxx 600 gauge, though it remains set to break a two-week losing spell. The dollar index was flat while the US 10-year yield dropped to about 3.64%.
Among notable movers in premarket trading, ORIC Pharmaceuticals surged as much as 70% after the company entered into a clinical development collaboration for a potential Phase 2 study of ORIC-533 in multiple myeloma with Pfizer. Micron Technology shares fall 3%, after the chipmaker’s second-quarter revenue forecast was weaker than expected at the midpoint, stoking analyst concerns that demand is faltering and that the downcycle the company is seeing hasn’t yet reached a bottom. Bank stocks were also lower and on track to snap a two-day winning streak. In corporate news, executives at BlackRock discussed buying Carlyle Group earlier this year after the private equity giant pushed out its chief executive, the Financial Times reported. Here are some other notable premarket movers:
- US-listed Chinese stocks are higher across the board in Thursday’s premarket trading after a report that China is planning to shorten the quarantine period for inbound overseas travelers in January. Alibaba +2.6%, Baidu +2.1%, JD.com +3%, Bilibili +3.9%, Nio +2%, Li Auto +3.2%
- IsoPlexis climbs 64% after Berkeley Lights agreed to acquire it in an all-stock transaction valued at $57.8 million. Berkeley Lights shares dropped 6.7%
- Lexicon Pharmaceuticals shares decline 8.4% on low volumes after the company said results of a Phase 2 proof-of-concept study of LX9211 in postherpetic neuralgia didn’t reach statistical significance on the primary endpoint
- Keep an eye on Getty Images stock as it was rated a new outperform at Wedbush, which notes the firm’s record of strong execution “and a compelling and consistent profit profile.”
US stocks just days away from finishing a year nursing the worst losses since the GFC as an unexpectedly hawkish Federal Reserve and stubbornly high inflation fueled the biggest slump for the S&P 500 since the global financial crisis. Although inflation has started to ease, market strategists are cautious about a recovery next year amid fears of a possible recession and its impact on corporate earnings. So far a Santa rally which some had expected would emerge in the final trading days has been difficult to pin down: December 2022 has been one of the ugliest last months of the year in recent history, and the S&P 500’s large decline this month contrasts with an average 1.5% December gain since 1950, providing sidelined global investors with plenty of “dry powder” to put to work, according to SEB.
“The resilience of the US economy thus continues to impress, and the probability is turned up a mini step for a soft landing,” Stockholm-based analysts at the firm told clients. On the other hand, war, inflation, and monetary policy tightening are pressuring companies’ large order books and profitability, they added.
“Recession is now the base case and US equities aren’t priced for it,” said Skylar Montgomery Koning, senior global macro strategist at TS Lombard. In an interview with Bloomberg TV, she added that stocks weren’t likely to bottom before the onset of the recession or a pivot from the Fed. On other hand, “you may get a slowdown in growth but just because inflation stays high, that means earnings could still stay high,” she said.
Bank of America’s iconic strategist Michael Hartnett recommended bonds in the first half of 2023 and said he’s more optimistic about equities in the second half after interest rates have peaked and corporate profits bottomed. Against that backdrop, he expects 60/40 portfolios to generate positive returns in 2023.
European stocks also reversed earlier gains and at last check, the Stoxx 600 traded down 0.2%. Autos, tech and consumer products are the worst performing sectors, while energy stocks are the best-performing sector as oil holds on to gains made over the last three days, with traders weighing the effects of lower US inventories and a weaker dollar against concerns over Chinese demand. Here are the biggest European movers:
Earlier in the session, equities in the Asia Pacific region rose, headed for their first gain in six sessions, as investors returned to Chinese stocks on positive policy signals, Japanese shares snapped a three-day losing streak while Hong Kong gained almost 3%. The MSCI Asia Pacific Index climbed as much as 1.3%, with benchmarks in Hong Kong jumping more than 2.7%. Investors cheered as Chinese officials urged the implementation of policies that will support the economy. “After much of the profit-taking is out of the way, and with a subsiding of fear over the surge in Covid cases at the initial stage of reopening, the Hong Kong and China market may do a bit better,” said Redmond Wong, a strategist at Saxo Capital Markets.
Japanese equities rebounded after falling for five days as improving consumer confidence in the US and strong earnings by some companies boosted investor sentiment. The Topix Index rose 0.8% to 1,908.17 as of market close Tokyo time, while the Nikkei advanced 0.5% to 26,507.87. Toyota Motor Corp. contributed the most to the Topix Index gain, increasing 1.8%. Out of 2,163 stocks in the index, 1,650 rose and 402 fell, while 111 were unchanged. “The rise in Japanese stocks mirrors the US stocks rise from good earnings performances by some companies and the fact that it reflected the upswing in consumer confidence,” said Takeru Ogihara, chief strategist at Asset Management One. “However, the Bank of Japan’s policy revisions have not been fully digested in yet.”
India stocks fell, as minutes of the central bank’s latest policy meeting indicated more rate hikes. Other regional gauges were broadly higher, supported by a greater-than-expected increase in US consumer confidence. Asian stocks had pulled back in recent sessions as the BOJ surprised with its decision Tuesday that may lead to higher borrowing costs, just as major cities in China struggle to cope with the spread of the coronavirus. The MSCI Asian gauge is down 18% this year, in line with the S&P 500 Index.
In FX, the yen resumed its rise while the dollar slipped against a group of currency peers, headed for a third month of losses. The Bloomberg Dollar Spot Index dropped 0.2% as the greenback was steady or weaker against all of its Group-of-10 peers. Risk- sensitive Scandinavian currencies and the Australian dollar were the best performers. Incremental shifts in capital flows and interest rate was key for the greenback, Jefferies analyst Brad Bechtel noted, adding “the Fed is close to done hiking, which means that real rates in the US are done rising and will moderate a bit, taking pressure off of the dollar.”
- The euro advanced, yet stayed within recent ranges against the greenback. Bunds and Italian bonds were little changed
- The pound fell against both the dollar and the euro. Data showed the UK economy shrank more than expected last quarter while UK household incomes fell for a fourth straight quarter.
- The yen strengthened on the back of a broadly weaker dollar
- Australian dollar climbed as details of a meeting between Chinese agencies held to discuss support measures to counter the effects of Covid outbreaks spurred risk-on sentiment
- Chinese authorities ramped up their calls to prioritize growth next year and help the property sector recover from its worst slump on record, in further signs the economy will be top of mind in 2023
In rates, yields on Treasuries and euro zone bonds slipped but concerns remain that Japanese investors could now be persuaded to bring home some of the trillions of dollars they have stashed in foreign stocks and bonds. That could further lift global borrowing costs and drag on already cooling economic growth. Treasuries were slightly richer across the curve with gains led by belly, extending 5s30s steepening move back toward Wednesday session highs. US 10-year yields around 3.64% and richer by 2bp on the day, outperforming bunds and gilts by 3bp in the sector; belly-led gains steepens 5s30s spread by 1.5bp on the day to -4bp, reached -0.55bp Wednesday. Gilts, bunds trade cheaper on the day, lagging gains in Treasuries. US session focus includes GDP and a 5-year TIPS auction at 1pm New York. Japan’s 10-year yield fell after the BOJ conducted an additional debt-purchase operation to halt this week’s selloff.
In commodities, West Texas Intermediate crude futures held above $78 a barrel, extending their gain into a fourth day, benefiting from a decline in US inventories and the consumer confidence uptick. Growth-sensitive copper prices also rose for the fourth straight day. Oil prices were poised to end an extraordinarily volatile year modestly higher. Spot gold has been unable to benefit from the Dollar’s downside and remains towards the lower-end of tight $1813-1820/oz parameters while silver has slipped slightly to below the $24/oz mark. Despite the move in crude, base metals have been unable to benefit from the COVID update, with LME Copper modestly softer on the session.
Looking at the day ahead now, and data releases from the US include the third estimate of Q3 GDP, the weekly initial jobless claims, and the Kansas City Fed’s manufacturing index for December. Otherwise, we’ll also get decisions from a couple of G20 central banks, with those in Indonesia and Turkey deciding on rates.
Market Snapshot
- S&P 500 futures up 0.1% to 3,909.75
- STOXX Europe 600 up 0.3% to 432.64
- MXAP up 1.2% to 157.28
- MXAPJ up 1.4% to 510.18
- Nikkei up 0.5% to 26,507.87
- Topix up 0.8% to 1,908.17
- Hang Seng Index up 2.7% to 19,679.22
- Shanghai Composite down 0.5% to 3,054.43
- Sensex down 0.3% to 60,860.99
- Australia S&P/ASX 200 up 0.5% to 7,152.50
- Kospi up 1.2% to 2,356.73
- German 10Y yield little changed at 2.31%
- Euro up 0.3% to $1.0636
- Brent Futures up 1.1% to $83.11/bbl
- Gold spot up 0.1% to $1,815.96
- U.S. Dollar Index down 0.19% to 103.97
Top Overnight News from Bloomberg
- ECB Vice President Luis de Guindos said interest-rate hikes like the half-point move seen at this month’s meeting may become the standard as officials maintain their fight with soaring inflation
- Mild weather is expected to remain over most of Europe during the holidays, dimming the chances of a white Christmas but easing pressure on the region’s power grids
- China plans to cut quarantine requirements for overseas travelers in January, according to people familiar with the matter, as the country dismantles the last vestiges of its Covid Zero policy
- China is likely experiencing 1 million Covid infections and 5,000 virus deaths every day as it grapples with what is expected to be the biggest outbreak the world has ever seen, according to a new analysis
- Traffic in China’s biggest cities has dropped to the lowest since the Lunar New Year break in the early part of the year as the country’s abrupt end to Covid Zero sparks outbreaks nationwide
- Japan’s government expects price gains including fresh food to be 1.7% in the fiscal year 2023, unchanged from its mid- year estimate, according to Cabinet Office forecasts released Thursday
- Kazakh financial firms have been buying Russian government debt at a steep discount from investors unable to exit the market because of sanctions and other restrictions imposed after the invasion of Ukraine, according to people familiar with the matter
- Turkey’s central bank is poised to move past its cycle of interest-rate cuts at the final meeting of a year when inflation reached near a quarter-century high
A more detailed look at global markets courtesy of Newsquawk
Asian stocks traded with gains across the board following the positive lead from Wall Street. ASX 200 saw gains across almost all of its sectors aside from Material names and gold miners. Nikkei 225 eked gains as Real Estate names led the charge, but with gains capped as the JPY held onto most of its recent strength. Hang Seng and Shanghai Comp were firmer with the former opening with gains north of 2% as property names cheered reports via state media that China is to push the construction of major projects and equipment upgrades. The mainland meanwhile coattailed on the broader modest risk appetite seen after the US performance.
Top Asian News
- China reports zero new COVID deaths in the mainland on Dec 21st vs zero a day earlier, according to Reuters.
- China to cut quarantine for overseas travellers as of January, via Bloomberg.
- PBoC injected CNY 4bln via 7-day reverse repos with the rate maintained at 2.00%; injects CNY 153bln via 14-day reverse repos with the rate maintained at 2.15%; daily net injection CNY 155bln.
- Japanese government raises FY23 GDP growth forecast to 1.5% (from 1.1% in July); maintains FY23 Overall CPI forecast at 1.7%; cuts FY22 GDP growth forecast to 1.7% (from 2.0% in July), according to Reuters.
- Japanese PM Kishida said he wants Japanese industries to carry out investments of JPY 100tln as early as possible, according to Reuters.
- Tokyo will raise COVID-19 medical alert to the highest level, according to NHK.
European bourses are under modest pressure, Euro Stoxx 50 -0.2%, in what has been a very contained session with benchmarks making limited ground either side of the unch. mark. Sectors, are similarly mixed/contained; though, Energy outperforms given benchmark pricing while Real Estate has once again succumbed to yield action. Stateside, futures are in-fitting with their European counterparts, ES -0.1%, with Micron -2.5% in the pre-market post-earnings. TikTok’s latest proposal to the US government for a security deal includes an independent board to oversee its data security operations, according to Reuters sources.
Top European News
- ECB’s de Guindos says, “the steps we have taken so far are going to have an impact on inflation, but we still need to do more”.
- Zelenskiy Wins Applause, Aid in Half-Day Dash Through Washington
- European Gas Falls Further Amid Mild Weather and Ample Supplies
- Oil Steadies as Traders Weigh China Demand Against US Stockpiles
- Europe’s Mild Christmas and New Year to Ease Power Grid Stress
FX
- Aussie underpinned by base metals, but off best levels as broader risk sentiment wanes, AUD/USD peaks above 0.6750 and AUD/NZD near 1.0700
- DXY still straddling 104.000, but within slightly lower range to the benefit of Euro, Yen and Franc; EUR/USD retests 1.0650, USD/JPY probes 132.00 and USD/CHF pivots 0.9250.
- Pound lags to circa. 1.2100 after sub-consensus UK Q3 GDP data.
- PBoC set USD/CNY mid-point at 6.9713 vs exp. 6.9702 (prev. 6.9650)
Commodities
- WTI and Brent Feb’23 have managed to claw out incremental WTD peaks at USD 79.77/bbl and USD 83.66/bbl respectively, as the DXY continues to languish around and below 104.00, with the complex also benefitting from the limited macro updates re. COVID.
- Governor of Canada has determined the significant adverse effects of the Sukunka coal mine cannot be mitigated, and therefore the coal mine project cannot proceed, via Reuters.
- Brazil is to impose 14.88-14.93% countervailing duties on China’s aluminium sheet products from March 31st 2023, according to the Chinese Commerce Ministry.
- Spot gold has been unable to benefit from the Dollar’s downside and remains towards the lower-end of tight USD 1813-1820/oz parameters while silver has slipped slightly to below the USD 24/oz mark.
- Despite the move in crude, base metals have been unable to benefit from the COVID update, with LME Copper modestly softer on the session.
Geopolitical
- Russian State Nuclear Energy Corporation says discussions with the IAEA brought together views on the establishment of a buffer zone around Zaporizhzhia, according to Sky News Arabia.
US Event Calendar
- 08:30: Dec. Initial Jobless Claims, est. 222,000, prior 211,000
- Continuing Claims, est. 1.68m, prior 1.67m
- 08:30: 3Q GDP Annualized QoQ, est. 2.9%, prior 2.9%
- Personal Consumption, est. 1.7%, prior 1.7%
- GDP Price Index, est. 4.3%, prior 4.3%
- PCE Core QoQ, est. 4.6%, prior 4.6%
- 10:00: Nov. Leading Index, est. -0.5%, prior -0.8%
- 11:00: Dec. Kansas City Fed Manf. Activity, est. -6, prior -6
DB’s Jim Reid concludes the overnight wrap with his last Early Morning Reid note of 2022
This is the last EMR of 2022. Many thanks for all the interactions and support this year. As I mentioned yesterday in CoTD, we were very pleased with the Global II poll results last week and couldn’t have done it without your votes. So thanks. Many thanks also for the hundreds and hundreds of emails yesterday after my Xmas miracle story. It was very touching. If you missed it you can recap it here. No-one has asked for it but in the last EMR of the year I always list my favourite TV series/box sets of the last 12 months. If you want to see that skip to the end. I don’t have much free time with work and the kids but my wife and I try to carve out an hour each evening when I’m not travelling to watch a series. It’s a form of bonding that ensures we don’t run out of conversation too early in our marriage. It’s a tactic that has worked so far nearly 10 years on. So see if you agree or disagree with the choices at the end. As a final offering that you didn’t ask for, you may remember that on a flight to New York in early November the Wi-Fi didn’t work. Given I had nothing downloaded to do, I started writing a Xmas song for my family on my iPad. I surprised them with it last weekend and have posted the video online. If you want something to put you off all Christmases for the rest of your life please see the link on my Bloomberg header or search “It’s Xmas time at the Reids” online. It probably won’t make next year’s poll of best Xmas songs but could Mariah Carey do macro strategy? Well maybe she could.
So one last time for 2023 and we end on a relative high note in what has been a tumultuous 2022 as for the first time in over a week, yesterday saw a very strong performance for financial markets as investors focused on more positive news from various economic data and earnings releases. That led to a major cross-asset rally, with gains across equities, bonds, credit and commodities, which marks something of a change from what we’ve been used to seeing across the rest of 2022. Indeed, the S&P 500 (+1.49%) put in its strongest performance so far this month.
To be frank, there hasn’t been a great deal of newsflow for markets as things wind down for the Christmas holidays, but there was a strong round of US consumer confidence data from the Conference Board’s latest release. The main headline was that confidence rose to an 8-month high of 108.3 in December (vs. 101.0 expected), adding to hopes that the US economy might be able to achieve a softer landing than many (including us) fear. That included gains in both the present situation and the expectations component, with the latter hitting an 11-month high of 82.4. And there were even promising signals on the labour market, with the proportion of consumers saying that jobs were “plentiful” moving up, whilst the share saying they were “hard to get” fell back.
Against that backdrop, equities put in a very strong performance on both sides of the Atlantic, with sizeable gains for all the major indices. Those were very broad-based, with every individual industry group in the S&P 500 rising on the day, as did 469 of the companies in the index. The largest gains were seen among megacap tech stocks, with the FANG+ index advancing +2.21% after a run of 5 consecutive declines. The stronger economic data in the US led to cyclicals outperforming with Energy (+1.89%) and Industrials (+1.85%) seeing large gains. And over in Europe, the STOXX 600 (+1.23%) put in its best performance in over a month.
Whilst equities made gains, sovereign bonds also managed to stabilise following the recent moves higher in yields, with those on 10yr Treasuries falling -2.0bps yesterday to 3.662%. They are another -1.5bps lower this morning in Asia. And in keeping with the pattern of recent days, yield curves continued to steepen, with the 2s10s up +2.0bps to -55.7bps, which is its steepest level in over a month. Meanwhile in Europe, the relentless sell-off in sovereign bonds over the last week also paused for breath yesterday. Yields on 10yr bunds did increase for a 6th successive day, but only by a small amount, just as those on OATs (+0.4bps) were almost unchanged and BTPs (-3.9bps) fell back. This follows the third worst week for European bonds this century as we showed in yesterday’s CoTD.
Elsewhere, some of the most important headlines yesterday came on the geopolitical front, as Ukrainian President Zelensky visited US President Biden in Washington, which marks his first trip outside of Ukraine since Russia’s invasion began in February. President Biden’s administration announced $1.85bn of additional military funding for Ukraine, including the first transfer of the Patriot Air Defence system. According to the US State Department, the US has spent $20bn of security assistance to Ukraine. President Zelensky also addressed Congress last night, pressing for further aid and additional sanctions on Russia. Meanwhile in Russia, there were no signs that the government was looking for an exit path from the conflict, with President Putin saying that there were “no limitations” on military spending for Ukraine.
Asian equity markets are higher with the Hang Seng (+2.76%) leading gains helped by a boost in Chinese technology and property stocks as the China Securities Regulatory Commission (CSRC) yesterday pledged more support for the real estate industry as well as for the broader economy. Meanwhile, the Nikkei (+0.54%), the KOSPI (+0.75%), the CSI (+0.62%) and the Shanghai Composite (+0.24%) are also higher. DM Stock futures are indicating a positive start with contracts on the S&P 500 (+0.30%), the NASDAQ 100 (+0.34%) and the DAX (+0.24%) trading slightly higher.
Early morning data showed that producer prices in South Korea rose +6.3% y/y in November, the slowest growth since April 2021 and fifth consecutive month decline. This follows a +7.3% increase in October.
Elsewhere the Japanese yen stabilised yesterday, and saw a modest -0.55% decline against the US Dollar. That follows its +3.93% gain on Tuesday, which was the largest single-day gain since 1998. This morning it’s back up +0.4%. 10yr JGBs are -7bps lower at 0.4% as BoJ buying dominates.
In terms of economic data yesterday, US existing home sales fell to an annualised rate of 4.09m in November (vs. 4.20m expected). That’s their 10th consecutive monthly decline, and with the exception of May 2020 at the height of the pandemic, it’s also their lowest level since 2010. Otherwise, we got the latest CPI data for November in Canada, which came in at +6.8% (vs. +6.7% expected). Furthermore, if you exclude food and energy, inflation actually ticked up to +5.4%, having been at +5.3% the previous month. Finally in the UK, public sector borrowing (ex banks) came in at £22.0bn in November (vs. £14.8bn expected), the highest monthly number for November since records began in 1993.
To the day ahead now, and data releases from the US include the third estimate of Q3 GDP, the weekly initial jobless claims, and the Kansas City Fed’s manufacturing index for December. Otherwise, we’ll also get decisions from a couple of G20 central banks, with those in Indonesia and Turkey deciding on rates.
Happy holidays and here are my favorite TV series of the year… see you on the other side…..
- The Offer – A dramatised account of the making of the Godfather. I am not a devote of the films but the events around the making of it were fascinating, funny, scary and gripping. Please watch even if you’ve never seen the films just to see life in the early 1970s and the unbelievable obstacles to making one of the biggest movies of all time.
- Winning Time – The Rise of the Lakers Dynasty – Like with “The Offer” I’m not a basketball fan but this was again funny, fascinating and utterly mesmerising. Series one ends in 1980 and not being a basketball fan I’ve only a vague idea of what happens next so no spoilers as series 2 eventually takes the story on.
- Better Call Saul – The best prequel ever? Very sad to see the Saul/Jimmy story now complete.
- The White Lotus II – Maybe one of the better sequels. Much better than the first series that I could have taken or left.
- The Newsreader – A fascinating walk back in time to a 1980 Aussie newsroom and all the issues and prejudices the world had back then. Compelling stories and characters.
- SAS Rogue Heroes – The (mostly) true story of the setting up of the SAS. Very well done and astonishing stories and people.
- Stranger Things – Basically a kids story but one done very well both dramatically and visually. The Kate Bush soundtracked scene that helped her score her first number 1 for nearly 40 years was incredibly powerful.
- House of the Dragon – There was always a worry about how good or relevant a Game of Thrones prequel would be but I was pleasantly surprised.
- Borgen – After a decade away it was fascinating to see how the former (fictional) Statsminister of Denmark was progressing.
- Black Bird – A rarity in so far as this is a one-off complete story so no need to worry about cliff-hanger endings and a year’s wait for the next instalment. True story about a prisoner tapped up by the FBI to befriend a suspected serial killer to make him elicit a confession.
- Ozark – The final series didn’t quite hit the heights of previous ones but was still very good.
- The Crown – My wife and I raged against some of the deliberate inaccuracies but it was a fascinating journey back in time to stories of our younger days and always very well shot.
- Cobra Kai – Very lightweight but always masses of fun and with a very good heart.
- Karen Pirie – A Scottish detective who looks a bit like my wife! Not sure who is more dogged and determined.
- The Bear – Utter chaos as a tortured star chef inherits and takes over a rundown Chicago sandwich shop. Mayhem ensues.
Honourable mentions. For all Mankind, Reacher, Bosch: Legacy, Only Murderer in the Building, Sherwood.
AND NOW NEWSQUAWK (EUROPE/REPORT)
Crude climbs in otherwise contained trade with US data ahead – Newsquawk US Market Open
THURSDAY, DEC 22, 2022 – 06:12 AM
- European bourses & US futures are steady near the unchanged mark within relatively narrow ranges in limited newsflow
- Crude has clawed out incremental WTD peaks, given the softer USD and latest China-COVID reports
- DXY remains in proximity to 104.00, though was pushed modestly below the figure to the benefit of peers ex-GBP
- EGBs lost initial recovery momentum with drivers limited while USTs retain a positive foothold
- Looking ahead, highlights include US Q3 GDP and PCE, US Jobless Claims.
View the full premarket movers and news report.
Or why not try Newsquawk’s squawk box free for 7 days?
EUROPEAN TRADE
EQUITIES
- European bourses are under modest pressure, Euro Stoxx 50 -0.2%, in what has been a very contained session with benchmarks making limited ground either side of the unch. mark.
- Sectors, are similarly mixed/contained; though, Energy outperforms given benchmark pricing while Real Estate has once again succumbed to yield action.
- Stateside, futures are in-fitting with their European counterparts, ES -0.1%, with Micron -2.5% in the pre-market post-earnings.
- Micron Technology Inc (MU) Q1 2023 (USD): EPS -0.04 (exp. -0.01), Revenue 4.09bln (exp. 4.11bln); to cut headcount by roughly 10% through FY23. Adj. revenue view 3.6-4bln (exp. 3.88bln). EPS view -0.72 to -0.52 (exp. -0.50). Adj. gross margin 6-11% (exp. 17.8%). Micron (MU) expect days of inventory to peak in current fiscal Q2 and gradually improve throughout the next few quarters; expect industry profitability to remain challenged through FY23. FY23 Capex view lowered to a range between 7.0-7.5bln from initial 8bln target, and down from 12bln in FY22.
- TikTok’s latest proposal to the US government for a security deal includes an independent board to oversee its data security operations, according to Reuters sources.
- Click here for more detail.
FX
- Aussie underpinned by base metals, but off best levels as broader risk sentiment wanes, AUD/USD peaks above 0.6750 and AUD/NZD near 1.0700
- DXY still straddling 104.000, but within slightly lower range to the benefit of Euro, Yen and Franc; EUR/USD retests 1.0650, USD/JPY probes 132.00 and USD/CHF pivots 0.9250.
- Pound lags to circa. 1.2100 after sub-consensus UK Q3 GDP data.
- PBoC set USD/CNY mid-point at 6.9713 vs exp. 6.9702 (prev. 6.9650)
- Click here for more detail.
Notable FX Expiries, NY Cut:
- USD/JPY: 130.00 (635M), 132.50 (1.03BN), 133.00 (225M), 134.00 (375M), 137.00 (460M)
- Click here
FIXED INCOME
- EU debt loses early recovery momentum with little rhyme or reason bar lack of depth due to seasonal factors, Bunds reverse from 136.20 to 135.64 and Gilts to 100.95 from 101.63.
- US Treasuries hold firm in contrast and curve a tad flatter post-strong 20 year auction and pre-data, T-note nearer 113-29 overnight top than 113-19+ bottom.
- Japanese government is looking to sell JGBs worth some JPY 190tln for FY23/24 on a calendar basis, and looking to make cuts in short-term bond issuance, according to a draft document cited by Reuters.
- Click here for more detail.
COMMODITIES
- WTI and Brent Feb’23 have managed to claw out incremental WTD peaks at USD 79.77/bbl and USD 83.66/bbl respectively, as the DXY continues to languish around and below 104.00, with the complex also benefitting from the limited macro updates re. COVID.
- Governor of Canada has determined the significant adverse effects of the Sukunka coal mine cannot be mitigated, and therefore the coal mine project cannot proceed, via Reuters.
- Brazil is to impose 14.88-14.93% countervailing duties on China’s aluminium sheet products from March 31st 2023, according to the Chinese Commerce Ministry.
- Spot gold has been unable to benefit from the Dollar’s downside and remains towards the lower-end of tight USD 1813-1820/oz parameters while silver has slipped slightly to below the USD 24/oz mark.
- Despite the move in crude, base metals have been unable to benefit from the COVID update, with LME Copper modestly softer on the session.
- Click here for more detail.
NOTABLE HEADLINES
- ECB’s de Guindos says, “the steps we have taken so far are going to have an impact on inflation, but we still need to do more”.
NOTABLE DATA
- UK GDP QQ (Q3) -0.3% vs. Exp. -0.2% (Prev. -0.2%); YY 1.9% vs. Exp. 2.4% (Prev. 2.4%)
CRYPTO
- SEC is reportedly heightening the scrutiny of auditors crypto work, via WSJ; concerned that crypto firms are overstating the limited work of auditors.
GEOPOLITICAL
- Russian State Nuclear Energy Corporation says discussions with the IAEA brought together views on the establishment of a buffer zone around Zaporizhzhia, according to Sky News Arabia.
APAC TRADE
EQUITIES
- APAC stocks traded with gains across the board following the positive lead from Wall Street.
- ASX 200 saw gains across almost all of its sectors aside from Material names and gold miners.
- Nikkei 225 eked gains as Real Estate names led the charge, but with gains capped as the JPY held onto most of its recent strength.
- Hang Seng and Shanghai Comp were firmer with the former opening with gains north of 2% as property names cheered reports via state media that China is to push the construction of major projects and equipment upgrades. The mainland meanwhile coattailed on the broader modest risk appetite seen after the US performance.
NOTABLE ASIA-PAC HEADLINES
- China reports zero new COVID deaths in the mainland on Dec 21st vs zero a day earlier, according to Reuters.
- China to cut quarantine for overseas travellers as of January, via Bloomberg.
- PBoC injected CNY 4bln via 7-day reverse repos with the rate maintained at 2.00%; injects CNY 153bln via 14-day reverse repos with the rate maintained at 2.15%; daily net injection CNY 155bln.
- Japanese government raises FY23 GDP growth forecast to 1.5% (from 1.1% in July); maintains FY23 Overall CPI forecast at 1.7%; cuts FY22 GDP growth forecast to 1.7% (from 2.0% in July), according to Reuters.
- Japanese PM Kishida said he wants Japanese industries to carry out investments of JPY 100tln as early as possible, according to Reuters.
- Tokyo will raise COVID-19 medical alert to the highest level, according to NHK.
DATA RECAP
- South Korean PPI Growth YY (Nov) 6.3% (Prev. 7.3%, Rev. 7.3%); MM (Nov) -0.2% (Prev. 0.5%, Rev. 0.5%)
1.c THURSDAY//WEDNESDAY NIGHT
SHANGHAI CLOSED DOWN 13.98 PTS OR 0.46% //Hang Sang CLOSED UP 518.73 OR 2.71% /The Nikkei closed UP 120.15 OR 0.46% //Australia’s all ordinaries CLOSED UP 0.58% /Chinese yuan (ONSHORE) closed DOWN TO 6.9813//OFFSHORE CHINESE YUAN DOWN TO 6.9885// /Oil UP TO 79.58 dollars per barrel for WTI and BRENT AT 82.94 / Stocks in Europe OPENED MOSTLY RED (EXCEPT LONDON). ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER
2 a./NORTH KOREA/ SOUTH KOREA/
///NORTH KOREA/SOUTH KOREA/
end
2B JAPAN
3c CHINA /
CHINA/COVID
China is now monitoring the variants. This will be problematic for them as their citizens have been already vaccinated and their immune system has been lessened
(zerohedge)
After Loosening COVID Restrictions, China Mandates Hospitals To Take Regular Virus Samples To Monitor Mutations
WEDNESDAY, DEC 21, 2022 – 06:40 PM
All of a sudden China seems content in trying to live with Covid and re-opening the country…it’s funny what happens when your citizens have had enough and decide they are no longer going to put up with it. The softer stance on the virus is coming just weeks after protests rocked major cities in China.
As part of China’s “new” policy on how it is dealing with the virus, it is setting up “a nationwide network of hospitals to monitor mutations of the virus”, according to a new report from the South China Morning Post.
As the SCMP notes: “Mass PCR testing was cancelled in early December and negative test results are no longer required to return to work or enter public places, including hospitals. There is no encouragement for people to get tested.”
Now, the country is bracing for new variants of the virus as a result of “waves” of the infection hitting the country in a short period of time, the report says.
The Chinese Centre for Disease Control and Prevention has now assigned one hospital in each city (with three cities in each province) responsible for collecting “samples from 15 patients in the outpatients and emergency room, 10 from patients with severe illnesses, and all fatalities.”
Xu Wenbo, director of the China CDC’s National Institute for Viral Disease Control said this week: “This will allow us to monitor in real time the dynamics of the transmission of Omicron in China and the proportion of its various sub-lineages and new strains with potentially altered biological characteristics, including their clinical manifestations, transmissibility and pathogenicity.”
“This will provide a scientific basis for the development of vaccines and the evaluation of diagnostic tools, including PCR and antigen tests,” he continued. More than 130 Omicron sub-lineages had been detected in China in the past three months, he said. He also predicts that new subvariants will continue to spread and mutations will continue.
“As long as it circulates in the crowd, when it replicates, it will mutate,” he concluded.
END
4/EUROPEAN AFFAIRS/UK AFFAIRS//
EUROPE/GERMANY/NATO
This shows how ready the west is in its fight with Russia; entire battalion of German Puma tanks fail to pass latest drill test.
Brooke/Remix news)
Entire Battalion Of German Puma Tanks Fail To Pass Latest Drill In Embarrassing Blow To Its Military Capabilities
THURSDAY, DEC 22, 2022 – 02:00 AM
Authored by Thomas Brooke via Remix News,
German Defense Minister Christine Lambrecht said this week that the country would not be purchasing any more Puma tanks until they prove their reliability…
Not a single one of Germany’s 18 modernized Puma tanks intended for the NATO Rapid Reaction Force (NRF) were deemed fit for action during a recent military drill, according to reports by German news outlet Der Spiegel.
The Puma infantry fighting vehicles were expected to be used by NATO’s NRF, however their operation problems are the latest in a long line of failures affecting Germany’s military capabilities.
According to Army Inspector General Alfons Mais, “there was an unexpectedly high number of failures in the demanding exercise conditions. So far, the Puma combat vehicle has proven to be increasingly reliable in terms of operational readiness.”
General Ruprecht von Butler, commander of the 10th Armored Division, described the operational readiness of the Puma tanks as a lottery bet.
“Unfortunately, I have to express myself so harshly. It cannot be compared with the usual reliability of German ground vehicles,” he told the German publication.
The Puma infantry vehicles are notable for their high-quality armor but are understood to be particularly unreliable, meaning the German armed forces have been unable to replace all of its Marder tanks which date back to the 1970s with the updated vehicles.
Bundeswehr Inspector General Eberhard Zorn assured the Bundeswehr will rectify the problems and be ready to fulfill its obligations by Jan. 1.
On Monday, German Defense Minister Christine Lambrecht expressed her concern at the military’s latest operational readiness failure, and announced that the country will not be purchasing any more Puma infantry tanks until they have proven themselves to be reliable.
She confirmed reports that several of the vehicles had been rendered out of service during the recent military drill.
“The recent failures of the Puma infantry fighting vehicle are a major setback,” Lambrecht said, adding that she had ordered a full, detailed report on the matter by next week.
“Our troops must be able to rely on weapon systems being robust and stable even in combat,” she added, although continued to assure NATO partners that Germany could be relied upon to spearhead the alliance’s European joint task force (VJTF) which it is expected to lead in 2023.
It isn’t the first time this month that Germany’s military has come under scrutiny. A leaked classified report detailing the effectiveness of Germany’s armed forces revealed they are underfunded, under-resourced, and barely capable of fulfilling the country’s NATO obligations, this website previously reported.
END
5.UKRAINE RUSSIA//
UKRAINE/RUSSIA/
Zelensky at it again appealing for more tans and warplanes. He wants absolute victory (which is a non starter)
(zerohedge)
Zelensky Appeals For Tanks & Warplanes, Invokes FDR’s “Absolute Victory”, Before Enthusiastic Congress
WEDNESDAY, DEC 21, 2022 – 08:40 PM
Summary: Zelensky spoke for a little over 30 minutes and in English, at times invoking key US historical moments from the Battle of Saratoga to the Battle of the Bulge (and comparing the courage of Ukrainian soldiers), after he was greeted as a ‘hero’ in a minutes-long standing ovation. He asserted that Ukraine is winning “against all odds”. He was throughout frequently interrupted by standing ovations from a partially filled Congress, which was missing a lot of Republicans, in part given a number of lawmakers had already traveled home for the holidays ahead of the unexpected in-person visit, and facing incoming severe weather.
Zelensky peppered the speech with positive and optimistic statements like “Ukraine holds its lines and will never surrender,” and “but our defense forces stand” – especially offering the latest example of Bakhmut, in the Donbas. As expected, a major theme was the need for continued US support, for which he thanked the Biden administration, Congress, and the American people.
“The occupiers have an advantage in artillery and much more heavy equipment like tanks and airplanes,” he began a section of the address in which he appealed for continued aid. “Your support is crucial… to get to the turning point on the battlefield.”
“We have artillery, is it enough? Not really.” He explained that Ukraine needs enough ammo and weapons to be able to completely expel Russian forces from Ukrainian territory. He also spoke of the misery that Russian-operated Iranian drones are unleashing on the civilian population in attacking energy infrastructure. “I would like to thank you for the financial packages,” he said, and followed with: “Your money is not charity” but an investment in “global security” that Ukraine will “handle in the most responsible way.”
Among the more interesting statements was the moment he indirectly pressed for the US to provide tanks and warplanes. While he stressed that Ukraine has never asked American troops to fight on Ukraine’s behalf on its soil, he asserted: “I can assure you that Ukrainian soldiers can perfectly operate American tanks and planes themselves.”
On the potential for a negotiated peace, he called attention of his prior “10-point plan” which he said should be implemented (and which Russia previously firmly rejected), and which he said Biden approved of during the Wednesday meeting at the White House.
Zelensky additionally called on Congress to join Ukraine in bringing every Russian “criminal” to justice. “Let the terrorist state” be held accountable, he said. He emphasized millions of Ukrainians will have no heating or water as they celebrate Christmas.
“Only victory!” he stressed near the end of the speech, and also quoted from Franklin D. Roosevelt’s famous “Day of Infamy” speech. “The American people in their righteous might will win through to absolute victory,” Zelensky said, and followed by pledging that Ukraine too will achieve “absolute victory.”
Meanwhile in Moscow…
#BREAKING Kremlin says no chance of peace with Kyiv after Zelensky Washington trip— War Monitor (@WarMonitors) December 21, 2022
* * *
Update (1920): Zelensky is expected to make an “appeal to the American people” – as he previewed earlier – at 1940ET. House Speaker Nancy Pelosi in welcoming him about an hour ago to the Capitol building compared the Ukrainian leader to Winston Churchill. Watch live:
Throughout the afternoon, CNN’s live coverage has been talking a lot about the below tweet by Donald Trump Jr…
Zelensky is basically an ungrateful international welfare queen. https://t.co/WclnckMoCj— Donald Trump Jr. (@DonaldJTrumpJr) December 21, 2022
* * *
Summary: President Biden in his written remarks read aloud turned to Zelensky to assure “you haven’t stood alone” and that the United States “will stand with you”. He said Putin is escalating by targeting Ukrainian energy infrastructure, including “targeting orphanages and schools.” A key theme throughout the remarks is the US belief that Putin will “fail” and that Ukraine will have continued “success” on the battlefield with US help.
Biden further pointed out it’s been 300 days since Putin launched an “unprovoked, unjustified all-out assault” on Ukraine, part of the “imperial appetites of autocrats”. Interestingly, Biden affirmed that even before the invasion the US was helping Ukraine to prepare to defend itself.
Biden hailed that the Ukrainian military has “won” in the battles for Kyiv, Kherson and Kharkiv. Biden additionally claimed Zelensky is “open” to pursuing a just peace while Putin is not. Further, continued unreserved support was pledged, with no hint of peace talks or a ceasefire…
There had been thoughts, questions that Biden would pressure Zelenskyy to make a (potentially bad) deal with Russia to end the war at any price. It didn’t happen, at least not in public. Instead unreserved US support to help Zelenskyy on battlefield.— Richard Engel (@RichardEngel) December 21, 2022
“I look forward to signing the omnibus bill soon which includes $45 billion for Ukraine,” Biden said, while also unveiling 1.8 billion of security assistance that includes both direct transfers as well as contracts for future ammo supplies. In total, it will constitute “$2.2 billion in new support,” Biden said. The package will include a patriot missile battery, Biden said, as previewed. While emphasizing that Patriot systems will be a “critical asset” for Ukraine, he admitted that training “may take some time”. Biden as expected also stressed the “defensive” nature of the Patriot system.
Biden further in the Q&A said that Putin had “strengthened NATO” with the decision to invade.
Zelensky for his part, said he’s “thankful” for all that the American people have done, and that this is currently a “historic” visit. He said he’s especially “grateful” to President Biden for his strong stance in support of Ukraine. Every dollar of this investment is toward “strengthening global security,” Zelensky said. He repeatedly referred to “terrorist” Russia and its decision to invade, based on “tyranny”. He pledged that ultimately Ukraine will “win” – and that “we will win together”.
Biden pledged during the press conference that US support will remain “for as long as it takes”.
* * *
Update (1425ET): Watch live as President Biden kicks off a joint press conference with Zelensky.
* * *
Update(1340ET): Zelensky has arrived on a large Air Force jet. He’s expected to soon meet Biden at the White House, after which there will be a joint presser at 1630ET.
Zelenskiy was greeted by Biden’s protocol officer Rufus Gifford on arrival.
from Zelenskiy’s Telegram channel pic.twitter.com/PUKhxRxBv1— annmarie hordern (@annmarie) December 21, 2022
* * *
Update(10:45ET): Zelensky is reportedly arriving to Washington D.C. aboard a US Air Force plane, according to US officials cited in CNN, after taking a high risk train ride into Poland. White House national security communications coordinator John Kirby said of the impending visit with President Biden, “The President really believes that as we approach winter, as we enter … a new phase in this war, of Mr. Putin’s aggression, that this is a good time for the two leaders to sit down face to face and talk.” But this is how Reuters somewhat cynically previewed the visit:
Ukrainian President Volodymyr Zelenskiy headed to Washington on Wednesday to meet President Joe Biden, address Congress and seek “weapons, weapons and more weapons” in his first overseas trip since Russia invaded Ukraine 300 days ago.
Surprisingly, the Associated Press additionally highlighted the latest video address by Zelensky, who yesterday while visiting a frontline fighting area in Bakhmut, said the following at a moment Congress is set to to approve $45 billion more in aid for Ukraine in the proposed massive omnibus package:
“We will pass it on from the boys to the Congress, to the president of the United States. We are grateful for their support, but it is not enough. It is a hint — it is not enough,” Zelensky said.
Zelensky is apparently prepared to tell Congress that whatever the US has given Ukraine — $45 billion in new aid now under consideration — it is not enough. From @AP: https://t.co/kbyyqF5t5X pic.twitter.com/5BkSu9Dsaj— Byron York (@ByronYork) December 21, 2022
The US is about to reach $100 billion in total aid committed to Ukraine, and as Glenn Greenwald points out, this far surpasses the total current Russian military budget…
Good morning. The US Congress is about to send another $44 billion to Boeing, Raytheon and the CIA “for the war in Ukraine.”
That’s a total of $100 billion sent by the US in 10 months.
The entire Russian military budget for the year is $65 billion.https://t.co/wszK7RHFos— Glenn Greenwald (@ggreenwald) December 21, 2022
And yet Zelensky and the constant refrain of top Ukrainian officials has been essentially that despite the blank check approach of the Biden administration, it is never enough. Apparently even the mainstream media is beginning to recognize this.
Looks like Zelensky flying to Washington on a US Air Force plane. Dramatically reduces the possibility of anything happening to the Ukrainian President on his first trip abroad since the Russian invasion began… https://t.co/7QXkGSWm0h— Mark MacKinnon (@markmackinnon) December 21, 2022
However, over at CNN Zelensky is being compared to Winston Churchill…
“Zelensky’s arrival will draw poignant echoes of British Prime Minister Winston Churchill’s arrival in Washington, 81 years ago,” writes Stephen Collinson | Analysis https://t.co/2o5FJBbQGM— CNN International (@cnni) December 21, 2022
* * *
With Ukraine’s Zelensky reportedly in the air en route to Washington where he’s is to deliver a “very special” in-person speech to US lawmakers, it’s being widely reported Wednesday morning that President Biden is expected to announce the US will deliver the Patriot missile defense system, along with another $2 billion in defense aid.
An admin official quoted in Axios said Zelensky’s visit to Washington is expected to last just “a few short hours,” and marks the first known trip the Ukrainian leader has taken outside the country since the war began. He’s expected to hold an “in-depth, strategic discussion” with Biden, and the Congressional address is set for 7:30pm EST.
The unnamed official further said the White House wants to put on a “big show of bipartisan support for Zelensky” in hopes of shoring up political “momentum” for continued assistance to Kiev, which is also coming in the form of the enormous omnibus spending package which includes $45 billion in military, economic, and other foreign aid to Ukraine.
White House Press Secretary Karine Jean-Pierre said in a statement that the Ukrainian president’s visit will be received with “strong, bipartisan support for Ukraine.”
She said “The visit will underscore the United States’ steadfast commitment to supporting Ukraine for as long as it takes, including through the provision of economic, humanitarian, and military assistance.”
Zelensky in the meantime tweeted confirmation while en route…
On my way to the US to strengthen resilience and defense capabilities of
. In particular, @POTUS and I will discuss cooperation between
. I will also have a speech at the Congress and a number of bilateral meetings.— Володимир Зеленський (@ZelenskyyUa) December 21, 2022
Meanwhile, some initial reaction coming out of Moscow…
- PUTIN: INTERBALLISTIC MISSILES SARMAT WILL BE DEPLOYED FOR COMBAT DUTY IN NEAREST FUTURE
- RUSSIAN DEFENCE MINISTER SHOIGU: WE ARE READY FOR TALKS
- RUSSIAN DEFENCE MINISTER SHOIGU: JOINT FORCES OF WEST ARE FIGHTING RUSSIA IN UKRAINE
- WEST TRIES TO OVERLOOK NUCLEAR BLACKMAIL, INCLUDING OVER ZAPORIZHZHIA NUCLEAR POWER STATION
- WEST TRIES TO DRAG ON THE FIGHTING IN UKRAINE
- RUSSIAN DEFENCE MINISTER SHOIGU: WE ARE FIGHTING TO SAVE PEOPLE IN UKRAINE FROM GENOCIDE AND TERROR
- MILITARY POTENTIAL OF UKRAINE IS BEING DESTROYED
It will be interesting to see whether Zelensky’s appearance before Congress is greeted with the same level of enthusiasm from all corners of the GOP.
The GOP wouldn’t fund a $5 Billion Border Wall but have happily sent $130 Billion to Ukraine over 9 months.— Mostly Peaceful Memes (@MostlyPeacefull) December 20, 2022
developing…
end
Russia blasts Zelensky and the uSA’s proxy war in Ukraine.
(zerohedge)
Russia Blasts Zelensky’s “Hollywood-Style Trip” In Furtherance Of US “Proxy War”
THURSDAY, DEC 22, 2022 – 08:47 AM
Russia has blasted Ukrainian President Zelensky’s Wednesday visit to Washington and appearance before Congress, calling it a “Hollywood-style trip” that’s meant keep the fires of “proxy war” against Russia burning.
“The Hollywood-style trip to Washington by the head of the Kiev regime has confirmed that the administration’s conciliatory statements about the lack of intention to start a confrontation with Russia are just empty words,” Russian ambassador to the US, Anatoly Antonov, said in fresh statements.
“What was essentially announced to applause and sarcastic smirks, was the need to continue the ‘proxy war’ against our country. Until a complete victory over us,” he added.
During Zelensky’s some 30-minute long speech before Congress, which was frequently interrupted by spontaneous standing rounds of applause from US lawmakers, the Ukrainian leader vowed “absolute victory” to be accomplished “with” the United States – in provocative words given while VP Kamala Harris and outgoing House Speaker Nancy Pelosi were just over his shoulder.
Antonov further blasted the “manic idea of defeating the Russians on the battlefield” in reacting to the speech, also condemning Biden’s newly announced pledge to send Patriot missiles. The Russian ambassador warned that any crew, even if directly from the US or NATO, found manning the Patriot batteries and systems becomes a fair target on the battlefield.
He additionally claimed that throughout the conflict Moscow has tried to “appeal to common sense at all levels,” but blamed the West for upping its supply of longer range missiles and more advanced arms which is leading to escalation and thus future consequences “impossible to even imagine.”
But Zelensky’s address to Congress and “the American people”, which marked a very rare opportunity for a foreign leader, was peppered throughout with phrases like “Only victory!” Near the end of the address he also quoted from Franklin D. Roosevelt’s famous “Day of Infamy” speech.
“The American people in their righteous might will win through to absolute victory,” Zelensky said while quoting FDR, and he followed by pledging that Ukraine too will achieve “absolute victory.”
As Zelensky arrived in Washington Wednesday, the Kremlin had signaled the trip to the US and meeting with Biden at the White House now means there’s no chance of peace with Kiev.
“The supply of weapons continues and the range of supplied weapons is expanding. All of this, of course, leads to an aggravation of the conflict. This does not bode well for Ukraine,” Kremlin spokesman Dmitry Peskov had said.
end
Robert h to us:
The deepening pit of war
Shoigu said these key words today:
How about 5 (Five) new naval infantry divisions three motor-rifle divisions, two air-assault division, a number of brigades will be transformed into divisions, among other measures. This is NOT about VSU, which is primarily a spent force right now and Russia slowly, in a economical way, annihilates the remnants of Ukraine’s mobilization “potential”. No, this is about NATO and where it will be moved back to. First NATO force to be dealt with is Poland. By early March, this upcoming fiasco will have started. And it will not be just soldiers who will die. New weapon systems are in full production based on results seen in the Ukraine as to missile effect. New designed drones are also now in serial production for use against NATO. New squadrons of jets are being delivered now. People need to remember that during WWII Germany could not keep up with shooting down Russian planes which were being turned out faster than they could shot down. The reality is that Russia has turned up the dial on internal military output to a war footing and that includes serial production of nuclear weapons based on the most current technology. And this does not unbalance their domestic economy. Raw materials and production capacity exists to do both while cashflow is there to pay with cash and not debt. Who else can do this? Perhaps not forever but for now this is unique.
As for cashflow, we need to consider and accept that Russia is readily replacing any loss revenue from Europe making sanctions redundant, while Europe destroys itself:
And we have all heard about India, and its’ positioning:
Eurasian dynamics are such that even with absorbing EU’s, inadequate, resources, the US is no competition to an emerging military and economic giant of BRICS and associated members. And this Grouping will formally grow next year. But grasping at the last straw of throwing money is what makes Washington deadly as when in a position of weakness Neocons stress the nuclear option; however it seems Russia is fully ready for this too. And it is not entirely clear that all of the EU is sold on self destruction. And likely, we will see fracture and desertion amongst the crowd. France for one seems really nervous about its’ future, which is why Macron speaks of giving Russia what it wants and needs, he now understands that Russia was not kidding about what it needs to feel secure from threats. And no doubt the City will hoist the anchor to set sail for tomorrow. Prosperity is achieved by participating in growth and not conflict which destroys capital, resources and time. Thus, as things move forward next year we can anticipate a more isolated America as fewer so called friends become less willing to be sacrificed for hegemony. Poland’s demise maybe a huge turning point. And now it seems Germany will have to contend with Polish refugees in addition to the Ukrainian ones already there and the Ukrainians in Poland which will still flee westwards to Germany. Ad to this the Ukrainians yet to flee the Ukraine as realities sink in and the NeoNazi crowd and crowd around Zelensky flees westward. How Germany will finance this, is a mystery and one which will add to the strains all Germans face as it is. As for Ukraine, it is finished as a country and it only remains a measure of time before all the money sent or that which be sent will be written off as a dead loss. Another notch of bad debt that tears at the soul of America’s financial hegemony. One would have imagined after Afghanistan another major capital write down would be avoided by more astute thinking.
What a mess, only a ship of fools could achieve. However, there it is. And why the mantle of power is shifting to the Collective South as it is called, from the West. And why, perhaps the world as we have known it has changed well beyond what daily we anticipate as future events and conditions are being written by what has already been put into motion. Making the future something that was written yesterday.
end
Nuclear and military assistance on the table: Medvedev is in China on an emergency basis – He conveyed a “message” from the Kremlin – B. Putin: “We are fighting the whole of NATO” – WarNews247
It is not just the ramp up of modern weapon systems in the Donbas, it is the sheer ability of Russia to go to a 6 day work week using its’ integrated manufacturing and raw material production to engage in both a domestic and war economy at the same time. This so far is unmatched by anyone else. And while the Western economies falter Russia is doing exceeding well by comparison.
No doubt, China has the Russian back because if Russia was to lose this fight China could not withstand the onslaught that would come. However, one does wonder about the Chinese manufacturing might being matched by who if turned on, given China is the factory to the world. No wonder western companies are fleeing China while they still can. And undoubtedly we will read about enormous Western losses in weeks ahead.
end
END
6/GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES
Vaccine//Covid issues: Injuries
A weightlifter and a person in great health,died
probably vaccinated…
Guggenheim CIO Scott Minerd Has Died
THURSDAY, DEC 22, 2022 – 10:42 AM
Scott Minerd, CIO of Guggenheim Partners, one of the best strategists on Wall Street and a passionate weightlifter, died from a heart attack during his regular workout at the age of 63. Scott was one of the good guys and his insight was always ahead of the curve. He will be missed.
Full press release below.
Guggenheim Partners Announces the Untimely and Unexpected Death of Scott Minerd
It is with great sadness that Guggenheim Partners announces the untimely and unexpected death of Scott Minerd, one of Guggenheim’s Managing Partners and its Global CIO. Scott died suddenly on Wednesday afternoon, December 21, 2022, from a heart attack during his regular workout.
Mark Walter, CEO and a Founder of Guggenheim Partners said, “I have known Scott for over 30 years and we were partners much of that time. Scott was a key innovator and thought leader who was instrumental in building Guggenheim Investments into the global business it is today. He will be greatly missed by all. My deepest condolences are with his husband, family and loved ones.”
Scott joined Guggenheim as a Managing Partner shortly after the firm was formed. He was a frequent commentator on markets and investments, both on television and via social media. Scott also was one of the designers of the organization, systems and procedures that make Guggenheim Investments a strong, robust and scalable leader in the asset management business. Scott’s role over time changed greatly as Scott became the public speaker for the firm, one of its senior leaders and a mentor to the employees of Guggenheim Investments, many of whom Scott himself recruited.
Guggenheim has implemented its succession plan, which is designed to deal with unexpected events. Guggenheim Investments has 900 employees, more than 350 of whom are investment professionals.
Guggenheim Investments continues to be led by its Co-Presidents, Dina DiLorenzo and David Rone, and by Anne Walsh, a Managing Partner and the CIO of Guggenheim Partners Investment Management. Anne will continue her current role leading the team managing client investments and will assume many of Scott’s responsibilities on an interim basis. Anne has been a leader in Guggenheim’s asset management business for 16 years and has the full trust of Guggenheim leadership.
Scott’s partners at Guggenheim, as well as the many colleagues Scott recruited to Guggenheim, worked with, and mentored over the years, all mourn his loss. Guggenheim’s investment professionals, in tribute to Scott, will continue every day to use the processes and procedures Scott helped build to manage Guggenheim’s client portfolios. They will dedicate their ongoing efforts to do so with excellence and fidelity to honor his legacy.
There will be no disruption of service to our clients, no change in the daily management of client portfolios and no change in the process of selecting investment assets, all of which are handled by long-standing committees and by long-tenured investment professionals who, every day, implement our investment process.
We will have much more to say in the next few days about Scott and his many contributions to our firm and to the communities we serve.
We express our deepest condolences to Scott’s husband, Eloy Mendez, as well as to his many friends and colleagues.
GLOBAL ISSUES
PAUL ALEXANDER
| Open in app or onlineAmerican Airlines flight attendant dies in flight; his colleague contacted me; we are sure it is vaxx related as they were forced to vax up; concerned pilots will die in flight, planes may crashThis is a real issue, a real concern as to the pilots and flight attendants, but pilots are critical and this may cause a disaster. I am trying to set up an interview with my friend who will talkDR. PAUL ALEXANDERDEC 22 SAVE▷ LISTEN |
Mansanguan et al.: Do not forget this key study out of Thailand “Cardiovascular Effects of the BNT162b2 mRNA COVID-19 Vaccine in Adolescents”; Authors WRONG to conclude ‘monitor’ youth, NO, Withdraw!
Most common cardiovascular effects were tachycardia (7.64%), shortness of breath (6.64%), palpitation (4.32%), chest pain (4.32%), & hypertension (3.99%). Cardiovascular effects found in 29.3%
| DR. PAUL ALEXANDERDEC 22 |
Reminder of this seminal study on the mRNA Pfizer and Moderna vaccine’s side-effects.
SOURCE:
Alexander COVID News-Dr. Paul Elias Alexander’s Newsletter is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
https://www.preprints.org/manuscript/202208.0151/v1
‘The most common cardiovascular effects were tachycardia (7.64%), shortness of breath (6.64%), palpitation (4.32%), chest pain (4.32%), and hypertension (3.99%). Seven participants (2.33%) exhibited at least one elevated cardiac biomarker or positive lab assessments. Cardiovascular effects were found in 29.24% of patients, ranging from tachycardia, palpitation, and myopericarditis. ‘
Myopericarditis was confirmed in one patient after vaccination. Two patients had suspected pericarditis and four patients had suspected subclinical myocarditis. Conclusion: Cardiovascular effects in adolescents after BNT162b2 mRNA COVID-19 vaccination included tachycardia, palpitation, and myocarditis.’
Researchers concluded after posting these devastating results:
“Hence, adolescents receiving mRNA vaccines should be monitored for side effects.”
This is the typical woke bogus reporting we are subjected to. Huge praise to these researchers but the issue is NOT to monitor teens who get the gene injection vaccine, but actually to pull the vaccine entirely. Follow Denmark’s lead.
END
Ha ha ha! “China Covid: Five deaths under country’s new counting method”; this is gut busting funny for now China is likely counting deaths accurately (fingers crossed) & the west media is going nuts
Maybe China in it’s insanity with ZERO-COVID and now Xi must re-open, is telling the truth? And to do this, he has to tell the true death numbers which means it was high infections, low deaths ALWAYS!
| DR. PAUL ALEXANDERDEC 22 |
Maybe the world will realize the farce, maybe China will overall incur less deaths if they did not enact the deadly US and Canada and UK hospital COVID protocol of sedation, Remdesivir, and ventilation? It will be interesting to see what happens next.
I am hoping they are being honest (China and honesty in the same sentence, what an oxymoron) yet lets hope and maybe they are forced to be honest to help sell to the nation why the ZERO-COVID is now being lifted after pummeling and suffering the nation for 3 years NEEDLESSLY. It is a twisted back to front way of looking at this but the US western media can’t take it and I love it!
Is China being honest for once to help themselves as in trouble over ZERO-COVID? What a complex web we weave.
‘China has outlined the way it counts Covid-19 deaths amid scepticism about the real impact of the disease.
It says the figure includes only those who die from respiratory illnesses, such as pneumonia.
Officially, there were only five Covid deaths on Tuesday, two on Monday – and none in the previous two weeks.
The counting method goes against World Health Organization (WHO) guidance – resulting in a figure that is way below the death toll in many other countries.’
https://www.bbc.com/news/world-asia-64044204
END
FDA’s nationally representative early warning system study NOW shows (after we have been screaming at FDA about these harms) that four outcomes met threshold for statistical signal following Pfizer
vaccination including pulmonary embolism (PE; RR = 1.54), acute myocardial infarction (AMI; RR = 1.42), disseminated intravascular coagulation (DIC; RR = 1.91), immune thrombocytopenia (ITP; RR=1.44).
| DR. PAUL ALEXANDERDEC 22 |
SOURCE:
https://www.sciencedirect.com/science/article/pii/S0264410X22014931
‘evaluated 14 outcomes of interest following COVID-19 vaccination using the US Centers for Medicare & Medicaid Services (CMS) data covering 30,712,101 elderly persons. The CMS data from December 11, 2020 through Jan 15, 2022 included 17,411,342 COVID-19 vaccinees who received a total of 34,639,937 doses.
‘early warning system is the first to identify temporal associations for PE, AMI, DIC, and ITP following BNT162b2 vaccination in the elderly.’
This ridiculous statement is made by FDA despite these findings:
‘FDA strongly believes the potential benefits of COVID-19 vaccination outweigh the potential risks of COVID-19 infection.’
COVID Bivalent booster vaccine effectiveness (VE) ‘FAILS’ again & Shrestha et al. shows us this: “Effectiveness of the Coronavirus Disease 2019 (COVID-19) Bivalent Vaccine”; VE of 30% (95% CI 20-39%)
Multivariable analyses also found that the greater the number of vaccine doses previously received the greater the risk of COVID
| DR. PAUL ALEXANDERDEC 21 |
Mass vaccination into a pandemic across all age groups and ‘rapid’ mass vaccination at that, while there is massive infectious pressure (circulating virus trying to infect the population) and using a non-neutralizing vaccine whereby the virus has become largely resistant to the vaccine induced antibodies (now non-sterilizing, non-neutralizing so does not stop infection, replication, or transmission), then selection pressure (natural selection) will select for the most fittest infectious variants that would become enriched in the environment and now become the dominant variants e.g. BQ.1.1 now replaces BA.5. There is original antigenic sin (OAS and I call it ‘mortal’ antigenic sin as the fixation cannot be reversed and prejudices the sub-optimal antibody response ‘life-long’) (immune priming and imprinting based on the initial prime or exposure), viral immune escape, and antibody-dependent enhancement of infection (ADEI) and disease (ADED).
This what this study shows. OAS.
SOURCE:
https://www.medrxiv.org/content/10.1101/2022.12.17.22283625v1
A retrospective cohort study conducted at the Cleveland Clinic Health System (CCHS) in the United States.
Researchers included employees on the very day that the bivalent COVID-19 vaccine was first available.
‘Protection provided by vaccination (analyzed as a time-dependent covariate) was evaluated using Cox proportional hazards regression.’
Findings focused on 51,011 employees of which 20,689 (41%) had a prior documented COVID-19 infection (episode), and whereby 42,064 (83%) received at least two doses of the vaccine.
‘The majority of infections in Ohio were caused by the BA.4 or BA.5 lineages of the Omicron variant during the first 10 weeks of the study, based on SARS-CoV-2 variant monitoring data available from the Ohio Department of Health. By December, the BQ.1, BQ.1.1, and BF.7 lineages accounted for a substantial proportion of the infections.’
‘By the end of the study, 10804 (21%) were bivalent vaccine boosted. The bivalent vaccine was the Pfizer vaccine in 9595 (89%) and the Moderna vaccine in the remaining 1178. Altogether, 2452 employees (5%) acquired COVID-19 during the 13 weeks of the study.’
‘The calculated overall vaccine effectiveness from the model was 30% (95% C.I., 20% – 39%)…when the Omicron BA.4/BA.5 lineages were the predominant circulating strains.’
‘The multivariable analyses also found that, the more recent the last prior COVID-19 episode was the lower the risk of COVID-19, and that the greater the number of vaccine doses previously received the higher the risk of COVID-19.’
VACCINE IMPACT/
NFL Legend Franco Harris Dies Suddenly – Was CDC Spokesperson for COVID “Vaccines”
December 21, 2022 2:10 pm
NFL Pittsburgh Steeler legend and Hall of Fame star running back Franco Harris died suddenly today, just days before he was to be honored by the Pittsburgh Steelers and have his jersey number retired. Franco Harris was one of the “NFL Alumni” who worked with the CDC last year to promote the COVID-19 “vaccines.” Franco Harris becomes another casualty on an ever increasing long list of current and former athletes who have been “dying suddenly” or suffering heart attacks since the COVID-19 “vaccines” were rolled out.
U.S. Spy Firm Can Track Cryptocurrency Users – Offers its Services to the Highest Bidder
December 21, 2022 6:41 pm
Leaked files reviewed by MintPress expose how intelligence services the world over can track cryptocurrency transactions to their source and therefore identify users by monitoring the movements of smartphone and Internet-of-Things (IoT) devices, such as Amazon Echo. The contents comprehensively detonate the myth of crypto anonymity, and have grave implications for individuals and states seeking to shield their financial activity from the prying eyes of hostile governments and authorities. The documents are among a trove related to the secret operations of Anomaly 6, a shadowy private spying firm founded by a pair of U.S. military intelligence veterans. The company covertly embeds software development kits, or SDKs, in hundreds of popular apps, then slices through layers of “anonymized” data in order to uncover sensitive information about any individual it chooses anywhere on Earth, at any time. In all, Anomaly 6 can simultaneously monitor roughly three billion smartphone devices – equivalent to a fifth of the world’s total population – in real-time. The company’s international surveillance reach could be more sweeping – and invasive – than even that of the C.I.A. and N.S.A. MintPress can reveal individuals, organizations, and states seeking to bypass traditional financial structures and systems loom prominently in Anomaly 6’s mephitic crosshairs, and spying on their transactions is a pivotal component of its sales pitch to government and private clients. This Orwellian technology leaves cryptocurrency users the world over nowhere to hide.
VACCINE INJURY
| Open in app or onlineAustralia’s Top Doc Reveals ‘devastating’ mRNA Vaccine Injury Says regulators threatening doctors for speaking out! DR PANDADEC 22 SAVE▷ LISTEN The former top Doctor in Australia Dr. Kerryn Phelps revealed this week that both she and her wife suffered ‘devastating’ COVID vaccine injuries. The article was published in The Chronicle:Upgrade to paidFormer federal MP Dr Kerryn Phelps has revealed she and her wife both suffered serious and ongoing injures from Covid vaccines, while suggesting the true rate of adverse events is far higher than acknowledged due to underreporting and “threats” from medical regulators.“This is an issue that I have witnessed first-hand with my wife who suffered a severe neurological reaction to her first Pfizer vaccine within minutes, including burning face and gums, paraesethesiae, and numb hands and feet, while under observation by myself, another doctor and a registered nurse at the time of immunisation,” the 65-year-old said.“I continue to observe the devastating effects a year-and-a-half later with the addition of fatigue and additional neurological symptoms including nerve pains, altered sense of smell, visual disturbance and musculoskeletal inflammation. The diagnosis and causation has been confirmed by several specialists who have told me that they have seen ‘a lot’ of patients in a similar situation.”She reported her adverse reactions to the Therapeutic Goods Administration, the equivalent of the FDA in the U.S., or Health Canada, but “they never followed up.”“Regulators of the medical profession have censored public discussion about adverse events following immunisation, with threats to doctors not to make any public statements about anything that ‘might undermine the government’s vaccine rollout’ or risk suspension or loss of their registration,” she said.The Australian Health Practitioner Regulation Agency (AHPRA) position is:“any promotion of anti-vaccination statements or health advice which contradicts the best available scientific evidence or seeks to actively undermine the national immunization campaign (including via social media) is not supported by National Boards and may be in breach of the codes of conduct and subject to investigation and possible regulatory action”.RecapDr. Kerryn Phelps has revealed:She and her wife both suffered serious and ongoing injuries from mRNA vaccines.The ‘true rate’ of adverse events are higher.Regulators in Australia have censored doctors who speak about adverse events. Anything that might undermine the government’s vaccine rollout is threatened with the loss of their medical license or even prosecution.ShareI advise all those who are interested to read the entire article and watch her interview ‘vaccine injury bombshell’: Studio 10 @Studio10auDr Kerryn Phelps has revealed that she and her wife Jackie Stricker-Phelps have suffered severe adverse reactions to the COVID vaccine. Dr Phelps calls for more research into the side effects of the vaccine and the long-term harm of the virus. #Studio1012:00 AM ∙ Dec 21, 20221,216Likes522Retweets What’s really bothering is while Dr. Phelps was experiencing her adverse reactions in 2021 she was still pushing the vaccine. Now almost 2 years later she speaks on this issue – slowly this wall is coming down and I’m becoming more confident, day after day, that the truth will come out.This situation isn’t unique to Australia. Regulators worldwide are covering this up. There is so much more to come. Is the wall about to break? |
/SLAY NEWS
| The latest reports from Slay News |
| Top Australian Health Official Blows Whistle: Doctors Are CensoredA top Australian health official has spoken out to blow the whistle by warning that doctors and other leading medical experts are being censored.READ MORE |
| Fauci: ‘Some People Idolize Me, Put Me on a Pedestal’Dr. Anthony Fauci has claimed that “some people idolize” him and put the top federal health official “on a pedestal.”READ MORE |
| Kamala Harris: Big Tech Must ‘Cooperate’ with Biden Admin to Censor Social MediaDemocrat Vice President Kamala Harris has declared that Big Tech companies must “cooperate” with the Biden administration to censor information on social media.READ MORE |
| George Soros Pumped Millions into Anti-Police Groups in 2021, Tax Records ShowRadical billionaire George Soros pumped tens of millions of dollars into anti-police groups in 2021, according to newly-emerged tax records.READ MORE |
| Elon Musk Warns Pelosi and McConnell against ‘Railroading Through a Giant Spending Bill’ That’s Not in the ‘Best Interests of the People’Twitter CEO Elon Musk has warned congressional leaders against “railroading through a giant spending bill” that’s “unlikely to be in the best interests of the people.”READ MORE |
| Harris Demands Social Media Companies ‘Work with Us’ on ‘Protecting Our Democracy’Vice President Kamala Harris said on Monday that she expects and “would require” social media companies to “comply” with the Biden administration’s efforts to prevent so-called “misinformation” and “disinformation.”READ MORE |
| Kyrsten Sinema Slams Biden for Refusing to Visit Border: ‘No-Brainer’Former Democrat Senator Kyrsten Sinema (I-AZ) has slammed President Joe Biden for refusing to visit the southern border, arguing that the move should be a “no-brainer” for “anyone who is responsible for setting or making policy.”READ MORE |
| $1.7 Trillion Spending Bill Packed with Taxpayer-Funded ‘Woke’ HandoutsAs the massive $1.7 trillion “omnibus” spending bill is rushed through Congress, much of the staggering amount of taxpayer-funded handouts to radical-Left “woke” causes are being overlooked.READ MORE |
| Elon Musk to ‘Resign as CEO’ of Twitter as Soon as Replacement FoundTwitter boss Elon Musk has confirmed that he will “resign as CEO” of the social media company as soon as a suitable replacement is found.READ MORE |
| Big Tech, Soros Group, Media Ran ‘Training Exercise’ to Prepare for Hunter Biden Laptop Leak before 2020 ElectionIn the run-up to the 2020 election, Twitter, Facebook, corporate media representatives, and a George Soros-funded propaganda organization all participated in a “training exercise” to prepare for a possible “data leak” exposing then-Democrat presidential candidate Joe Biden’s “crimes” and links to his son Hunter’s shady business dealings.READ MORE |