GOLD: $1302.30 DOWN $0.70 (COMEX TO COMEX CLOSING)
Silver: $15.31 DOWN 2 CENTS (COMEX TO COMEX CLOSING)
Closing access prices:
Gold : $1303.75
silver: $15.35
Comex options expiry: Wednesday March 26
London/LBMA expires Monday March 31/2019.
The crooks continue with their whacking right in front of the authorities/regulators despite the criminal probe of precious metals manipulations.
For comex gold and silver:
MARCH
NUMBER OF NOTICES FILED TODAY FOR MAR CONTRACT: 20 NOTICE(S) FOR 2000 OZ (0.0622 tonnes)
TOTAL NUMBER OF NOTICES FILED SO FAR: 377 NOTICES FOR 37700 OZ (1.1104 TONNES)
SILVER
FOR MARCH
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
0 NOTICE(S) FILED TODAY FOR nil OZ/
total number of notices filed so far this month: 5302 for 26,510,000
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Bitcoin: OPENING MORNING TRADE $3973:DOWN $9
Bitcoin: FINAL EVENING TRADE: $3931 UP 51
end
XXXX
JPMorgan or Goldman Sachs are taking a huge issuance (stopping) of gold at the comex.
today 8/20
EXCHANGE: COMEX
CONTRACT: MARCH 2019 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,301.800000000 USD
INTENT DATE: 03/15/2019 DELIVERY DATE: 03/19/2019
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
657 C MORGAN STANLEY 3
661 C JP MORGAN 8
737 C ADVANTAGE 2 9
905 C ADM 18
____________________________________________________________________________________________
TOTAL: 20 20
MONTH TO DATE: 35
Let us have a look at the data for today
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In silver, the total OPEN INTEREST CONTINUES TO FALL , THIS TIME BY A CONSIDERABLE SIZED 667 CONTRACTS FROM 186,883 DOWN TO 186,196 DESPITE FRIDAY’S STRONG 16 CENT GAIN IN SILVER PRICING AT THE COMEX. TODAY WE ARRIVED FURTHER FROM AUGUST’S 2018 RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS. WE MUST HAVE HAD CONSIDERABLE SHORT COVERING AGAIN TODAY.
WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY AS WELL WE ARE WITNESSING CONSIDERABLE LONGS PACKING THEIR BAGS AND MIGRATING OVER TO LONDON IN GREATER NUMBERS IN THE FORM OF EFP’S. WE WERE NOTIFIED THAT WE HAD A CONSIDERABLE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:
0 EFP’S FOR MARCH, 0 FOR APRIL, 2563 FOR MAY, 0 FOR DECEMBER AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 2563 CONTRACTS. WITH THE TRANSFER OF 2563 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24-48 HRS IN THE ISSUING OF EFP’S. THE 2563 EFP CONTRACTS TRANSLATES INTO 12.815 MILLION OZ ACCOMPANYING:
1.THE 16 CENT GAIN IN SILVER PRICE AT THE COMEX AND
2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST NINE MONTHS:
JUNE/2018. (5.420 MILLION OZ);
FOR JULY: 30.370 MILLION OZ
FOR AUG., 6.065 MILLION OZ
FOR SEPT. 39.505 MILLION OZ S
FOR OCT.2.525 MILLION OZ.
FOR NOV: A HUGE 7.440 MILLION OZ STANDING AND
21.925 MILLION OZ FINALLY STAND FOR DECEMBER.
5.845 MILLION OZ STAND IN JANUARY.
2.955 MILLION OZ STANDING FOR FEBRUARY.
AND NOW: 26.835 MILLION OZ STANDING IN MARCH.
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF MARCH:
26,689 CONTRACTS (FOR 12 TRADING DAYS TOTAL 26,689 CONTRACTS) OR 133.44 MILLION OZ: (AVERAGE PER DAY: 2224 CONTRACTS OR 11.120 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF MAR: 133.44 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 19.05% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)* JUNE’S 345.43 MILLION OZ IS THE SECOND HIGHEST RECORDED ISSUANCE OF EFP’S AND IT FOLLOWED THE RECORD SET IN APRIL 2018 OF 385.75 MILLION OZ.
ACCUMULATION IN YEAR 2019 TO DATE SILVER EFP’S: 498.83 MILLION OZ.
JANUARY 2019 EFP TOTALS: 217.455. MILLION OZ
FEB 2019 TOTALS: 147.4 MILLION OZ/
RESULT: WE HAD A CONSIDERABLE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 667 DESPITE THE 16 CENT GAIN IN SILVER PRICING AT THE COMEX /FRIDAY..THE CME NOTIFIED US THAT WE HAD CONSIDERABLE SIZED EFP ISSUANCE OF 2563 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER (SEE COMEX DATA) .
TODAY WE GAINED A GOOD SIZED: 1896 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: (WITH THE GAIN IN PRICE)
i.e 2563 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH DECREASE OF 667 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 16 CENT GAIN IN PRICE OF SILVER AND A CLOSING PRICE OF $15.33 WITH RESPECT TO YESTERDAY’S TRADING. YET WE HAVE A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY
In ounces AT THE COMEX, the OI is still represented by JUST UNDER 1 BILLION oz i.e. 0.931 BILLION OZ TO BE EXACT or 133% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED AT THE COMEX: 0 NOTICE(S) FOR NIL OZ OF SILVER
IN SILVER,PRIOR TO TODAY, WE SET THE NEW COMEX RECORD OF OPEN INTEREST AT 243,411 CONTRACTS ON APRIL 9.2018. AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51.
AND NOW WE RECORD FOR POSTERITY ANOTHER ALL TIME RECORD OPEN INTEREST AT THE COMEX OF 244,196 CONTRACTS ON AUGUST 22/2018 AND AGAIN WHEN THIS RECORD WAS SET, THE PRICE OF SILVER WAS $14.78 AND LOWER IN PRICE THAN PREVIOUS RECORDS.
ON THE DEMAND SIDE WE HAVE THE FOLLOWING:
- HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ MAY: 36.285 MILLION OZ ; JUNE/2018 (5.420 MILLION OZ) , JULY 2018 FINAL AMOUNT STANDING: 30.370 MILLION OZ ) FOR AUGUST 6.065 MILLION OZ. , SEPT: A HUGE 39.505 MILLION OZ./ OCTOBER: 2,520,000 oz NOV AT 7.440 MILLION OZ./ DEC. AT 21.925 MILLION OZ JANUARY AT 5.825 MILLION OZ.AND FEB 2019: 2.955 MILLION OZ/AND NOW MARCH: 26.835 MILLION OZ/
- HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018) AND NOW AUGUST 22/2018: 244,196 CONTRACTS, WITH A SILVER PRICE OF $14.78.
- HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
- RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLION OZ/ AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ
AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND. TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT).
IN GOLD, THE OPEN INTEREST SURPRISINGLY FELL BY A VERY LARGE 12,871 CONTRACTS DOWN TO 528,866 DESPITE THE STRONG RISE IN THE COMEX GOLD PRICE/(A GAIN IN PRICE OF $7.50//FRIDAY’S TRADING). EITHER WE HAD A MASSIVE SHORT COVERING OR THE SPREADERS STARTED TO LIQUIDATE A LITTLE EARLIER THAN USUAL
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 5748 CONTRACTS:
MARCH HAD AN ISSUANCE OF 0 CONTACTS APRIL 4998 CONTRACTS,JUNE: 750 CONTRACTS DECEMBER: 0 CONTRACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 530,055. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S. THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY. THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.
IN ESSENCE WE HAVE A STRONG SIZED LOSS IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 7123 CONTRACTS: 12,871 OI CONTRACTS DECREASED AT THE COMEX AND 5748 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS OF 7,123 CONTRACTS OR 712,300 OR 22.15 TONNES.
FRIDAY WE HAD A GAIN IN THE PRICE OF GOLD TO THE TUNE OF $7.50.…AND WITH THAT, WE HAD A HUMONGOUS LOSS IN TONNAGE OF 22.15 TONNES?????!!!!!!.
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 86,108 CONTRACTS OR 8,610,800 OZ OR 267.83 TONNES (12 TRADING DAYS AND THUS AVERAGING: 7175 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE STRONG SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 12 TRADING DAYS IN TONNES: 267.83 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2018, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 267.83/2550 x 100% TONNES = 10.50% OF GLOBAL ANNUAL PRODUCTION SO FAR IN DECEMBER ALONE.***
ACCUMULATION OF GOLD EFP’S YEAR 2019 TO DATE: 1141.8 TONNES
JANUARY 2019 TOTAL EFP ISSUANCE; 531.20 TONNES
FEB 2019 TOTAL EFP ISSUANCE: 344.36 TONNES
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.
Result: A HUMONGOUS SIZED SIZED DECREASE IN OI AT THE COMEX OF 12,871 DESPITE THE STRONG GAIN IN PRICING ($7.50) THAT GOLD UNDERTOOK FRIDAY) //.WE ALSO HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7547 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES. IF YOU TAKE INTO ACCOUNT THE 5748 EFP CONTRACTS ISSUED, WE HAD A STRONG LOSS OF 7,123 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
5748 CONTRACTS MOVE TO LONDON AND 12,871 CONTRACTS DECREASED AT THE COMEX. (IN TONNES, THE STRONG LOSS IN TOTAL OI EQUATES TO 22.15 TONNES). ..AND ALL OF THIS FALL IN DEMAND OCCURRED WITH A STRONG GAIN OF $7.50 IN YESTERDAY’S TRADING AT THE COMEX???????!!!!!
we had: 20 notice(s) filed upon for 2000 oz of gold at the comex.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
With respect to our two criminal funds, the GLD and the SLV:
GLD...
WITH GOLD DOWN 70 CENTS TODAY
A BIG CHANGES IN GOLD INVENTORY AT THE GLD//
A WITHDRAWAL OF: 1.32 TONNES OF GOLD AND THIS GOLD IS BEING USED TO
1/ SUPPRESS THE PRICE OF GOLD
2. NEEDED TO PUT OUT FIRES ELSEWHERE
INVENTORY RESTS AT 771.04 TONNES
TO ALL INVESTORS THINKING OF BUYING GOLD THROUGH THE GLD ROUTE: YOU ARE MAKING A TERRIBLE MISTAKE AS THE CROOKS ARE USING WHATEVER GOLD COMES IN TO ATTACK BY SELLING THAT GOLD. IT SURE SEEMS TO ME THAT THE GOLD OBLIGATIONS AT THE GLD EXCEED THEIR INVENTORY
SLV/
WITH SILVER DOWN 2 CENTS IN PRICE TODAY:
NO CHANGES IN SILVER INVENTORY AT THE SLV//
/INVENTORY RESTS AT 310.848 MILLION OZ.
end
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in SILVER FELL BY A CONSIDERABLE SIZED 667 CONTRACTS from 186,863 DOWN TO 186,196 AND FURTHER FROM THE NEW COMEX RECORD SET LAST IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD 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 1 1/3 YEARS AGO. THE PRICE OF SILVER ON THAT DAY: $17.89. AS YOU CAN SEE, WE HAVE RECORD HIGH OPEN INTERESTS IN SILVER ACCOMPANIED BY A CONTINUAL LOWER PRICE WHEN THAT RECORD WAS SET…..
.
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
0 CONTRACTS FOR MARCH. 0 CONTRACTS FOR APRIL., 2563 FOR MAY AND AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 2563 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE OI LOSS AT THE COMEX OF 667 CONTRACTS TO THE 2563 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 1896 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 9.48 MILLION OZ!!! AND YET WE ALSO HAVE A STRONG DEMAND FOR PHYSICAL AS WE WITNESSED A FINAL STANDING OF GREATER THAN 30 MILLION OZ FOR JULY, A STRONG 6.065 MILLION OZ FOR AUGUST.. A HUGE 39.505 MILLION OZ STANDING FOR SILVER IN SEPTEMBER… OVER 2 million OZ STANDING FOR THE NON ACTIVE MONTH OF OCTOBER., 7.440 MILLION OZ FINALLY STANDING IN NOVEMBER. 21.925 MILLION OZ STANDING IN DECEMBER , 5.845 MILLION OZ STANDING IN JANUARY. 2.955 MILLION OZ STANDING IN FEBRUARY AND NOW 26.835 MILLION OZ FOR MARCH.
RESULT: A CONSIDERABLE SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE 16 CENT GAIN IN PRICING THAT SILVER UNDERTOOK IN PRICING// YESTERDAY.BUT WE ALSO HAD A GOOD SIZED 2563 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR SEPTEMBER, DEMAND FOR PHYSICAL SILVER CONTINUES TO INTENSIFY AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.
BOTH THE SILVER COMEX AND THE GOLD COMEX ARE IN STRESS AS THE BANKERS SCOUR THE BOWELS OF THE EXCHANGE FOR METAL
(report Harvey)
.
2.a) The Shanghai and London gold fix report
(Harvey)
2 b) Gold/silver trading overnight Europe, Goldcore
(Mark O’Byrne/zerohedge
and in NY: Bloomberg
3. ASIAN AFFAIRS
i)MONDAY MORNING/ SUNDAY NIGHT:
SHANGHAI CLOSED UP 74.69 POINTS OR 2.47% //Hang Sang CLOSED UP 396.75 POINTS OR 1/37% /The Nikkei closed UP 133.65 POINTS OR 1.37%/ Australia’s all ordinaires CLOSED UP .30%
/Chinese yuan (ONSHORE) closed UP at 6.7137 AS TRUCE DECLARED FOR 3 MONTHS /Oil DOWN to 58.43 dollars per barrel for WTI and 67.17 for Brent. Stocks in Europe OPENED GREEN EXCEPT DAX
ONSHORE YUAN CLOSED UP // LAST AT 6.7137 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.7154 / TRADE TALKS NOW ON/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED : /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW A FULL TRADE WAR COMMENCED
3A/NORTH KOREA/SOUTH KOREA
i)North Korea/
b) REPORT ON JAPAN
3 C/ CHINA
i)China/FRIDAY night:
China has a looming liquidity shortage and this may explain why eventually the steam will run out of China as their growth machine stalls
( zerohedge)
4/EUROPEAN AFFAIRS
i)France:
For the 18th straight weekend, the Yellow vests tormented France.. It turned violent again this weekend as macron’s “great Debate” ends.
( zerohedge)
ii)Italy/China
( Tom Luongo)
iii)Very important: Trump is very angry at Europe for many reasons as Mish outlines below. Trump want a Chinese deal as two trade wars concurring at the same time will be deadly. This is why he is very lenient on China and will OK a delay in a settlement with them.
(Mish Shedlock/Mishtalk)_
iv)A must read…Blain discusses why Europe is in a far worse mess than Japan.
( Bill Blain)
v)Because there were no changes, the UK Speaker blocks May’s 3rd attempt during to pass her Brexit deal.
( zerohedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
6. GLOBAL ISSUES
7. OIL ISSUES
A very important read on how the Nordstream 2 project will proceed with Trump having no influence in stopping it. Luongo explains how Europe, Russia and the uSA interests will play out on this issue
(courtesy TomLuongo)
8 EMERGING MARKET ISSUES
i)VENEZUELA/
More evidence that Venezuela is a basket case: total chaos everywhere after the blackout…
(courtesy zerohedge)
9. PHYSICAL MARKETS
( PRLog, Austin Texas/GATA)
ii)South African court blocks union’s plan for an industry wide strike
( Reuters/GATA)
iii)Nathan Lewis in a Forbes commentary explains why gold is still the best basis for money.
(Nathan Lewis/Forbes/GATA)
iv)A very important commentary written at Kingworldnews by Egon Von Greyerz. He warns that March 29 is a key date due to
- Brexit
- Gold is included as a Tier one asset at all banks.
He feels that the world’s debt is so huge that the bubble will burst shortly
( Egon Von Greyerz.GATA/Kingworldnews)
vi)this is good!! Silver demand is expected to rise in 2019 and this is from the guys who use the stuff. Silver is used in photovoltaic cells, water purification, LWD lighting, flexible electronics and screens and is a wonderful anti-microbial. It is the drug of choice for burns.
( ScrapRegister)
10. USA stories which will influence the price of gold/silver)
MARKET TRADING//early this morning
END
ii)Market data
ii)USA ECONOMIC/GENERAL STORIES
a)This is something that we should be worried about…radio frequencies from cell phones.
( Michael Snyder)
iv)SWAMP STORIES
a)A summary of the Lynch and Page testimony to Congress:
( Sara Carter)
end
Let us head over to the comex:
AFTER MARCH, WE HAVE THE NON ACTIVE DELIVERY MONTH OF APRIL. HERE: APRIL ROSE TO 815 CONTRACTS FOR A GAIN OF 17 CONTRACTS. AFTER APRIL, THE NEXT BIG ACTIVE DELIVERY MONTH IS MAY AND HERE THE OI FELL BY 584 CONTRACTS DOWN TO 134,279 CONTRACTS. WE HAVE WITNESSED A MASSIVE SHORT COVERING AT THE BANKS WITH RESPECT TO SILVER COUPLED WITH CONTINUE QUEUE JUMPING (ALTHOUGH NONE TODAY)……SOMETHING IS SCARING THEM TO DEATH!!!
i) Out of Brinks: 160.755 oz
(5 kilobars)
GATA STORIES WITH RESPECT TO GOLD/PRECIOUS METALS.
In the town of Live Oak Florida, the original silver backed liberty dollar is now availabe again.
(courtesy PRLog, Austin Texas/GATA)
Liberty Dollar revived by couple in Florida town
Submitted by cpowell on Fri, 2019-03-15 14:39. Section: Daily Dispatches
Infamous Liberty Dollar Is Back
Company Announcement
via PRLog, Austin, Texas
Thursday, March 14, 2019
LIVE OAK, Florida — The original silver-backed Liberty Dollar is available again.
Kathy Hicks of Live Oak, with her husband, Wayne, have revived it through the new Liberty Dollar Network, which encourages sound-money supporters to exchange their U.S. dollars, which are secured by the government’s promise to pay, for silver-backed Live Oak Liberty Dollars. These are 100-percent backed by and exchangeable for silver bullion stored in an independently operated audited vault.
…
Live Oak Liberty Dollars are available as paper silver certificates and digital electronic Liberty Dollars that can be used online and anywhere via a smartphone app. They are based on the original Liberty Dollar, which was shut down by the U.S. Treasury after a notorious raid that almost sent Liberty Dollar founder Bernard von NotHaus to prison for life.
The new version of the Liberty Dollar is backed by pure .999 fine silver valued at US$25 per ounce. The valuation is set higher than the current price of silver because, as Kathy Hicks, president of the Liberty Dollar Network, explains, “You can’t base a currency on the market value of a commodity, because the price changes daily. The new Liberty Dollar is based on a reasonable future valuation that gives Members and Merchants a greater trading value. When the price of silver rises, the current $25 silver base will raise all existing currency to a higher valuation, increasing its purchasing power.” …
… For the remainder of the announcement:
https://www.prlog.org/12759472-infamous-liberty-dollar-is-back.html
END
South African court blocks union’s plan for an industry wide strike
(courtesy Reuters/GATA)
South African court blocks mine union’s plan for industry-wide strike
Submitted by cpowell on Sat, 2019-03-16 02:04. Section: Daily Dispatches
By Tanisha Heiberg and Mfuneko Toyana
Reuters
Friday, March 15, 2019
RUSTENBURG, South Africa — South Africa’s labor court has rejected a request by the Association of Mineworkers and Construction Union to hold an industry-wide strike covering the platinum and gold sectors, Anglogold Ashanti, Anglo American Platinum, and Lonmin said today.
The union has been on strike at Sibanye-Stillwater’s gold operations since mid-November in a pay dispute. It wanted to extend the strike to at least 11 other mining firms including Anglo American’s gold and platinum operations, Harmony Gold, and Lonmin.
…
The union said it was shocked and would appeal the decision, adding that “secondary strikes are an integral part of the constitutional right to strike.”
In a written judgment, labor court judge Connie Prinsloo said an extended strike would put the entire economy at risk. …
… For the remainder of the report:
https://www.reuters.com/article/us-safrica-mining-strike/south-african-c…
* * *
Join GATA here:
Mining Investment Asia
Marina Bay Sands Conference and Exhibition Center
Singapore
Tuesday-Thursday, March 26-28
https://www.mininginvestmentasia.com/
Mines and Money Asia
Hong Kong Conference and Exhibition Center
Wan Chai, Hong Kong
Tuesday-Thursday, April 2-4
https://asia.minesandmoney.com/
* * *
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
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END
Nathan Lewis in a Forbes commentary explains why gold is still the best basis for money.
(Nathan Lewis/Forbes/GATA)
Nathan Lewis: Why gold is still the best basis for money
Submitted by cpowell on Sun, 2019-03-17 02:15. Section: Daily Dispatches
By Nathan Lewis
Forbes.com, New York
Saturday, March 16, 2019
As we continue to enjoy the “Yellen gold standard,” now in its Powell phase — who knows how long it will last? — let’s look at why the gold standard system worked so well for so many centuries, including nearly two centuries of U.S. history before the rupture in 1971, during which time the United States became the wealthiest country in history.
In 1971 the economist Arthur Laffer — at the time the chief economist of the Office of Management and Budget — was asked what he thought the consequences would be of Nixon’s “closing of the gold window,” which effectively ended the Bretton Woods period when the dollar’s value was fixed at $35 per ounce of gold.
…
“It won’t be as much fun to be an American anymore,” Laffer reportedly replied. And he was right.
But why? Why is it that the collective intelligence (let’s be generous) of today’s central bankers, and indeed all the central bankers since 1971, cannot outperform a yellow rock? This probably strikes some as bizarre, but it has always been thus. …
… For the remainder of the commentary:
https://www.forbes.com/sites/nathanlewis/2019/03/16/why-gold-is-still-th…
END
A very important commentary written at Kingworldnews by Egon Von Greyerz. He warns that March 29 is a key date due to
- Brexit
- Gold is included as a Tier one asset at all banks.
He feels that the world’s debt is so huge that the bubble will burst shortly
(courtesy Egon Von Greyerz.GATA)
Egon von Greyerz at KWN: Have the Ides of March been delayed a couple of weeks?
Submitted by cpowell on Mon, 2019-03-18 03:43. Section: Daily Dispatches
10:45a ICT Monday, March 18, 2019
Dear Friend of GATA and Gold:
Swiss gold fund manager Egon von Greyerz, writing at King World News, wonders if the infamous Ides of March have been postponed from the 15th to the 29th, when the United Kingdom is scheduled to leave the European Union and when the “Basle 3” standards take effect, elevating gold to a “Tier 1” asset for banks, an asset equivalent to cash and government bonds.
Von Greyerz’s commentary is headlined “Have the Ides of March Been Delayed?” and it’s posted at KWN here:
https://kingworldnews.com/greyerz-have-the-ides-of-march-been-delayed/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
END
Jay Taylor: Under “Basel III” Rules, Gold Becomes Money!
BY JOHN RUBINO ? MARCH 16, 2019
In his latest newsletter commodities analyst Jay Taylor notes that a very important date is approaching:
In 2018, central banks added nearly 23 million ounces of gold, up 74% from 2017. This is the highest annual purchase rate increase since 1971, and the second-highest rate in history. Russia was the biggest buyer. And not surprisingly, the lion’s share of gold is flowing into central banks of countries that are in the sights of America’s killing machine—the Military Industrial Complex that Eisenhower warned us about in 1958.
central bank gold buying
The Bank for International Settlements (BIS), located in Basal, Switzerland, is often referred to as the central bankers’ bank. Related to this issue of central bank hoarding of gold is the fact that on March 29 the BIS will permit central banks to count the physical gold it holds (marked to market) as a reserve asset just the same as it allows cash and sovereign debt instruments to be counted.
There has been a long-term view that China and other nations dishoarding dollars in favor of gold have been quite happy about western banks trashing the gold price through the synthetic paper markets. But one has to wonder if that might not change, once physical gold is marked to market for the sake of enlarging bank balance sheets.
This also raises the question with regard to how much gold the U.S. actually holds as opposed to what it claims to hold. James Sinclair has always argued that the only way the world can overcome the debt that is strangling the global economy is to remonetize gold on the balance sheets of central banks at a price in many thousands of dollars higher. This would mean a major change in the global monetary system away from the dollar, as China has been pushing for the last decade or so.
If banks own and possess gold bullion, they can use that asset as equity and thus this will enable them to print more money. It may be no coincidence that as March 29th has been approaching banks around the world have been buying huge amounts of physical gold and taking delivery. For the first time in 50 years, central banks bought over 640 tons of gold bars last year, almost twice as much as in 2017 and the highest level raised since 1971, when President Nixon closed the gold window and forced the world onto a floating rate currency system.
But as Chris Powell of GATA noted, that in itself is not news. The move toward making gold equal to cash and bonds was anticipated several years ago. However, what is news is the realization by a major Italian Newspaper, II Sole/24 Ore, that “synthetic gold,” or “paper gold,” has been used to suppress the price of gold, thus enabling countries and their central banks to continue to buy gold and build up their reserves at lower and lower prices as massive amounts of artificially-created “synthetic gold” triggers layer upon layer of artificially lower priced gold as unaware private investors panic out of their positions.
The paper concludes that,
“In recent years, but especially in 2018, a jump in the price of gold would have been the normal order of things. On the contrary, gold closed last year with a 7- percent downturn and a negative financial return. How do you explain this? While the central banks raided “real” gold bars behind the scenes, they pushed and coordinated the offer of hundreds of tons of “synthetic gold” on the London and New York exchanges, where 90 percent of the trading of metals takes place. The excess supply of gold derivatives obviously served to knock down the price of gold, forcing investors to liquidate positions to limit large losses accumulated on futures. Thus, the more gold futures prices fell, the more investors sold “synthetic gold,” triggering bearish spirals exploited by central banks to buy physical gold at ever-lower prices”.
The only way governments can manage the levels of debt that threaten the financial survival of the Western world is to inflate (debase) their currencies. The ability to count gold as a reserve from which banks can create monetary inflation is not only to allow gold to become a reserve on the balance sheet of banks but to have a much, much higher, gold price to build up equity in line with the massive debt in the system.
-END-
this is good!! Silver demand is expected to rise in 2019 and this is from the guys who use the stuff. Silver is used in photovoltaic cells, water purification, LWD lighting, flexible electronics and screens and is a wonderful anti-microbial. It is the drug of choice for burns.
(courtesy ScrapRegister)
Silver demand from industrial fabrication likely to rise modestly in 2019
NEW YORK (Scrap Register): Silver demand from industrial fabrication, responsible for approximately 60 percent of total demand, is forecast to rise modestly in 2019, according to The Silver Institute.
The Silver Institute expects most sectors to record reasonable growth based on silver’s use in a wide variety of applications. Silver demand from brazing alloys and solders as well as electrical and electric applications is expected to rise again this year.
This is on the back of continued demand from the automotive sector, which uses an increasing amount of applications, such as safety features, window defogging and infotainment systems, and for electric and hybrid vehicles.
The Silver Institute also forecast growth in silver’s use in a variety of additional sectors, such as water purification, chemical applications, LED lighting, flexible electronics and screens as well as anti-microbial applications in textiles.
-END-
US seeks halt in civil lawsuit accusing JP Morgan of manipulating metals market, citing criminal case
- The U.S. wants a federal judge to halt a civil lawsuit accusing J. P. Morgan of manipulating precious metals markets. The Justice Department cited an ongoing criminal case as its reason for the request.
- A former J. P. Morgan trader pleaded guilty in Connecticut last month to manipulation charges.
- In the guilty plea, the trader said he had learned to make bogus trade orders from senior traders at the bank and that he used the strategy hundreds of times with the knowledge and consent of his immediate supervisors.
CNBC.com
The Justice Department is asking a judge to put the brakes on a civil lawsuit against J. P. Morgan Chase, citing an ongoing probe into a “related criminal case” that involves alleged manipulation of precious metals markets.
The department wants a six-month postponement in the proceedings of the civil lawsuit, which was filed in 2015 by hedge fund manager Daniel Shak and two commodity traders. The government also says it could ask for a longer delay in the case, according to a court filing on Monday.
The move comes days after Shak’s lawyer, David Kovel, sought permission to reopen questioning of two former J. P. Morgan traders and the bank’s current global head of base and precious metals trading.
Kovel, in making the request with the Manhattan federal judge in the civil case, cited last month’s guilty plea by one of those former traders, John Edmonds, in federal court in Connecticut.
Edmonds admitted making bogus bids on precious metals contracts while working at the bank from 2009 to 2015.
Neither J. P. Morgan Chase nor Kovel’s clients have opposed the Justice Department’s request.
In arguing for a delay, the Justice Department said Shak’s lawsuit is “related” to Edmonds’ criminal case and that Edmonds has “pleaded guilty and acknowledged his own participation in such conduct, as well as that of other traders.”
“Edmonds awaits sentencing, but the broader investigation is ongoing,” the Justice Department said. The U.S. wants to delay the civil case “to protect the integrity of its ongoing criminal investigation,” it said.
J. P. Morgan did not respond to a request for comment by CNBC. Kovel declined to comment.
Tuesday night, after this story first was published, Judge Paul Engelmayer ordered the federal prosecutors to explain in detail by Monday why postponing proceedings in the civil lawsuit would not harm those involved, and why reopening questioning “would be detrimental to the Government’s ongoing criminal investigation.”
Englemayer also wrote that he regards Edmonds’ guilty plea “as potentially highly consequential” to the civil case.
In his guilty plea, the 36-year-old Edmonds said he had learned to make bogus trade orders from senior traders at the bank and that he used the strategy hundreds of times with the knowledge and consent of his immediate supervisors. He admitted to working with “unnamed co-conspirators” at J. P. Morgan, according to the Justice Department.
Kovel wants to question Edmonds again as well as Michael Nowak, the bank’s global head of base and precious metal trading, and former J. P. Morgan Chase Managing Director Robert Gottlieb. The three had previously answered questions under oath in the civil case.
Kovel said in court filings that Nowak was the immediate supervisor of Edmonds, while Gottlieb was Edmonds’ mentor.
In his prior deposition, Edmonds said that Gottlieb sat only a “couple feet” away from him for about five years, and that he was “somebody [he] looked up to in the business,” who helped guide and train him.
Nowak is described by Edmonds as his direct supervisor, with whom he would sometimes discuss trading strategies. Nowak was also the person responsible for overseeing the performance and risk of Edmonds’ portfolio, according to the deposition.
Edmonds also stated in his prior deposition that he would enter precious metals trades for both Nowak and Gottlieb, among others.
The civil lawsuit claims Shak and his fellow plaintiffs lost tens of millions of dollars as a result of actions by J. P. Morgan’s traders.
Federal judge tells traders they can combine cases accusing JP Morgan of rigging metals market
- Litigation in a separate civil case has been put on hold until at least May at the behest of the Justice Department, which is investigating a “related criminal case” that involves alleged market manipulation by precious metals traders at J. P. Morgan.
- Judge John Koeltl of the Southern District of New York appointed the White Plains, N.Y., law firm Lowey Dannenberg as interim lead counsel for the proposed class action.
A group of traders from across the U.S. who allege that J. P. Morgan Chase manipulated precious metals markets for years are one step closer to bringing a class action suit against the nation’s largest bank.
Earlier this month, a federal judge said five separate lawsuits making similar allegations against the bank could be combined, potentially including thousands of people who traded in the precious metals market from Jan. 2009 through Dec. 2015.
Litigation in a separate civil case has been put on hold until at least May at the behest of the Justice Department, which is investigating a “related criminal case” that involves alleged market manipulation by precious metals traders at J. P. Morgan.
J. P. Morgan declined to comment on this story.
Judge John Koeltl of the Southern District of New York appointed the White Plains, N.Y., law firm Lowey Dannenberg as interim lead counsel for the proposed class action.
Vincent Briganti, a partner at the firm, filed the first suit seeking class action status in November on behalf of Dominick Cognata, a trader who alleges he suffered losses due to J.P. Morgan’s illegal trading conduct in the silver and gold futures and options markets.
That was after the federal court in Connecticut unsealed a criminal plea agreement by John Edmonds, a former J.P. Morgan metals trader. In his guilty plea, Edmonds, who is 36-years old, admitted that he and other “unnamed co-conspirators” fraudulently manipulated the precious metals markets while they were employed at J. P. Morgan from 2009 to 2015.
Edmonds said he had learned the illegal trading tactics from senior traders, and then used them hundreds of times with the knowledge of and consent of his immediate supervisors.
Briganti’s lawsuit also names John Edmonds and a group of yet-to-be-identified precious metals traders and the bank as defendants.
On Wednesday, the lawyers sent a letter to Judge Koeltl saying they were having difficulty locating Edmonds to serve him legal papers and requested a 30-day extension to do so, which the judge granted on Thursday. Briganti noted that they have been in contact with Edmonds’ attorney in the criminal case. Edmonds’ attorney and Briganti could not be reached for comment.
“We are hopeful that this extension will result in completing service on Mr. Edmonds without formal motion practice and a request for alternative means of service,” Briganti said in the letter.
The next step in the civil case is for the plaintiffs to file an amended class action complaint and set a schedule for defendants to respond.
In addition to the proposed class action, J. P. Morgan also faces a separate civil suit which also accuses the bank of rigging precious metals markets.
end
Your early MONDAY morning currency, Asian stock market results, important USA/Asian currency crosses, gold/silver pricing overnight along with the price of oil Major stories overnight/9 AM EST
i) Chinese yuan vs USA dollar/CLOSED/ LAST AT: 6.7137/
//OFFSHORE YUAN: 6.7154 /shanghai bourse CLOSED UP 74.67 POINTS OR 2.47% /
HANG SANG CLOSED UP 396.75 POINTS OR 1.37%
2. Nikkei closed UP 133.65 POINTS OR 0.62%
3. Europe stocks OPENED GREEN EXCEPT GERMANY
/USA dollar index FALLS TO 96.40/Euro RISES TO 1.1356
3b Japan 10 year bond yield: FALLS TO. –.04/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 111.48/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD IS NOW TARGETED AT .11%/JAPAN LOSING CONTROL OF THEIR BOND MARKET
3c Nikkei now JUST BELOW 17,000
3d USA/Yen rate now well below the important 120 barrier this morning
3e WTI:: 58.43 and Brent: 67.17
3f Gold UP/JAPANESE Yen DOWN CHINESE YUAN: ON -SHORE UP /OFF- SHORE: UP
3g Japan is to buy the equivalent of 108 billion uSA dollars worth of bond per month or $1.3 trillion. Japan’s GDP equals 5 trillion usa./“HELICOPTER MONEY” OFF THE TABLE FOR NOW /REVERSE OPERATION TWIST ON THE BONDS: PURCHASE OF LONG BONDS AND SELLING THE SHORT END
Japan to buy 100% of all new Japanese debt and by 2018 they will have 25% of all Japanese debt. Fifty percent of Japanese budget financed with debt.
3h Oil DOWN for WTI and DOWN FOR Brent this morning
3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO +.09%/Italian 10 yr bond yield UP to 2.44% /SPAIN 10 YR BOND YIELD DOWN TO 1.16%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 2.35: DANGEROUS FOR THE ITALIAN BANKING SYSTEM
3j Greek 10 year bond yield FALLS TO : 3.75
3k Gold at $1304.70 silver at:15.34 7 am est) SILVER NEXT RESISTANCE LEVEL AT $18.50
3l USA vs Russian rouble; (Russian rouble UP 45/100 in roubles/dollar) 64.35
3m oil into the 58 dollar handle for WTI and 67 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 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 111.48 DESTROYING JAPANESE CITIZENS WITH HIGHER FOOD INFLATION
30 SNB (Swiss National Bank) still intervening again in the markets driving down the SF. It is not working: USA/SF this morning 0.9999 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.1364 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.
3p BRITAIN VOTES AFFIRMATIVE BREXIT/LOWER PARLIAMENT APPROVES BREXIT COMMENCEMENT/ARTICLE 50 COMMENCES MARCH 29/2017
3r the 10 Year German bund now POSITIVE territory with the 10 year RISING to +0.09%
The bank withdrawals were causing massive hardship to the Greek bank. the Greek referendum voted overwhelming “NO”. Next step for Greece will be the recapitalization of the banks and that will be difficult.
4. USA 10 year treasury bond at 2.659% early this morning. Thirty year rate at 3.02%
5. Details Ransquawk, Bloomberg, Deutsche bank/Jim Reid.
6. TURKISH LIRA: UP TO 5.4617
Global Stocks Hit 5 Month High, Ignore Reports Of Trump-Xi Meeting Delay, 737 MAX Subpoena
Global stocks rose to the highest level in five months and the dollar dipped on Monday as traders ignored a SCMP report that the April meeting between presidents Xi and Trump had been delayed to June, and glossed over the latest slide in Boeing stock following a WSJ report of a grand jury subpoena into the 737 MAX’s development, as they once again priced in the dovish stance from the Fed at its policy meeting this week, a process which has been going on since December.
MSCI’s World index was up 0.3% on the day, sitting at a five-month high, hitting its highest since October 10.
European markets were broadly in the green, led by miners and banks, helped by a jump in shares in German lenders Deutsche Bank and Commerzbank after they confirmed over the weekend they were in talks to merge, a process which is far from certain will end with a merger despite the German government’s backing. The STOXX Europe 600 index rose 0.3%, hitting a five-month high, before trimming gains in half.
Britain’s FTSE 100 outperformed its European peers with a 0.3 percent gain, the main beneficiary from the surge in base metal prices with heavyweight miners all sitting comfortably at the top of the index (Rio Tinto +2.2%, Anglo American +2.1%, Antofagasta +1.8%, Glencore +1.7%); gains were boosted by prospects of parliament voting for a third time on Prime Minister Theresa May’s Brexit plan after ruling out a near-term no-deal exit.
European material names initially outperformed but were later overtaken by financial names ahead of a plethora of central bank rate decision including FOMC and BOE. Financial names may also feel support from the Deutschebank (+3.9%)/Commerzbank (+6.6%) saga, with the latest reports confirming merger talks between the two banks after the German government approved the tie-up, although, German union Verdi warned that merger could put up to 30k jobs at risk, to which the government replied that jobs at stake are being examined.
Earlier in the session, Asian stocks began the week mostly higher after last Friday’s tech-led upside on Wall St, but with early cautiousness amid reports the Trump-Xi summit was said to be pushed back to June. In related news, a source reportedly suggested that there was a divergence within the Trump administration regarding the deal with China. ASX 200 (+0.3%) eked marginal gains as underperformance in telecoms and financials offset some of the commodity-driven strength in the Australian bourse, while the Nikkei 225 (+0.6%) was underpinned by a weaker currency following weaker than expected data in which Trade Surplus topped estimates but both Exports and Imports contracted more than expected. Elsewhere, Hang Seng (+1.4%) and Shanghai Comp. (+2.5%) were both positive after the PBoC increased its liquidity efforts and as mainland China shrugged off an early whimsical tone caused by uncertainty from the delay of the Trump-Xi summit.
U.S. equity indexes were flat, with the Dow in the red, dragged lower by the latest drop in Boeing stock which tumbled following a WSJ report that the US Transportation Department are reportedly probing FAA approval of the 737 Max.
Still,the generally positive mood remains ahead of a week filled with potentially significant catalysts from central bank meetings, geopolitical developments and economic data.
With a signs of global economic growth slowing, and with “bad news once again good news”, traders were focused on the Federal Reserve, which meets on Wednesday for further cues about the path of U.S. interest rates. In particular focus will be the whether policymakers will have sufficiently lowered their interest rate forecasts to more closely align their “dot plot.”
“The market is probably expecting some down-shift in the ‘dot plots’ (which currently see two hikes in 2019 and one in 2020), plus some more discussion on the end of quantitative tightening – i.e. stopping its balance sheet reduction. This should maintain a positive environment for risk,” ING analysts said.
Also expected is more detail on a plan to stop cutting the Fed’s holdings of nearly $3.8 trillion in bonds. The two-day meeting ends with a news conference on Wednesday.
Treasuries were little changed and most European bonds climbed: yields on three and five-year Treasuries are dead in line with the effective Fed funds rate, while futures imply a better-than-even chance of a rate cut by year end. In European bonds, no news proved the most important news in euro zone bonds on Monday after ratings agency Moody’s decided not to downgrade Italy’s credit rating, prompting investors to buy Italian government bonds.
Italy’s 10-year government bond yield fell as much as four basis points on the day to 2.46 percent, its lowest since May 2018. Its spread over higher-rated Germany briefly narrowed to its tightest since September 2018.
Elsewhere, in the latest Brexit developments, UK PM May received backing by some staunch Brexiteers after she personally lobbied MPs but still remained significantly short of the number she needs to win a vote this week. Furthermore, it was separately reported that 40 Tory rebels told PM May they would only support her deal if she quits as PM. Various UK ministers suggested PM May could cancel this week’s 3rd Brexit vote if there is not enough support. In related news, former UK Foreign Minister Johnson called for a delay in the 3rd Brexit vote and said it is not too late to get a real change regarding backstop. The DUP reportedly want a seat in trade negotiations with the EU in exchange for supporting PM May and there were also reports citing senior DUP figures that they held constructive Brexit talks with ministers, while sources close to the DUP also said that the regulatory alignment offer may have won over the DUP.
In currencies, the dollar slipped versus most of its G10 peers and the euro strenghtened ahead of a Federal Reserve policy announcement Wednesday where the central bank is seen striking a dovish tone. The pound fell as Prime Minister Theresa May continued to face opposition to her Brexit plans, pushing up U.K.
May has only three days to win approval for her deal to leave the European Union if she wants to go to a summit with the bloc’s leaders on Thursday with something to offer them in return for more time. “Should May hold another vote tomorrow that would constitute a signal that she considers it possible that her deal will be accepted,” said Ulrich Leuchtmann, a currency strategist at Commerzbank. “It should no doubt have a moderately positive effect on the British currency,” he added.
The Australian and New Zealand currencies both rallied, as stocks traded in the green and Treasuries edged up.
Expected data include NAHB Housing Market Index. HealthEquity, StoneCo, Syneos Health, and Tilray are among companies reporting earnings.
Market Snapshot
- S&P 500 futures little changed at 2,831.25
- STOXX Europe 600 up 0.2% to 381.98
- MXAP up 0.9% to 160.30
- MXAPJ up 1% to 529.77
- Nikkei up 0.6% to 21,584.50
- Topix up 0.7% to 1,613.68
- Hang Seng Index up 1.4% to 29,409.01
- Shanghai Composite up 2.5% to 3,096.42
- Sensex up 0.07% to 38,050.16
- Australia S&P/ASX 200 up 0.3% to 6,190.53
- Kospi up 0.2% to 2,179.49
- German 10Y yield unchanged at 0.083%
- Euro up 0.2% to $1.1343
- Italian 10Y yield fell 0.5 bps to 2.142%
- Spanish 10Y yield fell 0.5 bps to 1.184%
- Brent futures down 0.4% to $66.90/bbl
- Gold spot up 0.2% to $1,304.47
- U.S. Dollar Index down 0.1% to 96.47
Top Overnight News
- Theresa May is threatening to give up trying to get Brexit done any time soon unless euroskeptics in her Conservative party back down and promise to vote for her deal this week. The British prime minister is still working to win support for her divorce agreement but she won’t bother putting it to another vote in Parliament as planned on Tuesday unless there is a strong chance it will be approved, ministers said
- The Federal Reserve will bring the current cycle of interest-rate increases to an end after one more hike later this year, according to a Bloomberg survey of economists
- OPEC and its allies have much work ahead to balance global oil markets and are prepared to do what’s necessary in the second half, Saudi Energy Minister Khalid Al- Falih said
- Asked about the possibility of Japanese Prime Minister Shinzo Abe running for a fourth term as leader of the ruling Liberal Democratic Party, 59.3% of respondents said they oppose it and 31.1% were in support in an FNN poll conducted over the weekend.
- Asking prices for London homes fell this month as buyers hesitated on closing deals amid political turmoil over Brexit. Average values declined in March, slumping 1.1 percent from February to 607,557 pounds ($806,000), property-website Rightmove said in a report Monday
- The proportion of Japan bond transactions made by overseas funds climbed to 14.57 trillion yen ($131 billion) in January, or 11.9 percent of the total, a record in data from the Japan Securities Dealers Association starting in 2004
- Deutsche Bank and Commerzbank have confirmed they are in merger talks, bowing to officials’ desire to forge a durable German lender with global reach out of two troubled firms
- Credit stress in China is deepening with another local conglomerate, backed by a state-owned giant, struggling under the weight of its debts
- Italy’s Finance Minister Giovanni Tria is working on a new plan of incentives that would allow the country to avoid a budget adjustment, according to newspaper Corriere della Sera
Asian stocks began the week mostly higher after last Friday’s tech-led upside on Wall St, but with early cautiousness observed ahead of the week’s plethora of central bank activity and amid uncertainty with the Trump-Xi summit said to be pushed back to June. ASX 200 (+0.3%) eked marginal gains as underperformance in telecoms and financials offset some of the commodity-driven strength in the Australian bourse, while the Nikkei 225 (+0.6%) was underpinned by a weaker currency following mixed data in which Trade Surplus topped estimates but both Exports and Imports contracted more than expected. Elsewhere, Hang Seng (+1.4%) and Shanghai Comp. (+2.5%) were both positive after the PBoC increased its liquidity efforts and as mainland China shrugged off an early whimsical tone caused by uncertainty from the delay of the Trump-Xi summit. Finally, 10yr JGBs were relatively unchanged with demand dampened by the gains in riskier assets and with downside also restricted by the BoJ’s presence in the market. A summit between US President Donald Trump and Chinese counterpart Xi Jinping could be delayed to June according to sources who noted they will not be able to finalise an agreement by April. In related news, a source reportedly suggested thatthere was a divergence within the Trump administration regarding the deal with China. Chinese President Xi is set to visit Europe this week in efforts to bolster trade relationships. The Chinese President will travel to France, Italy and Monaco from March 21st to 26th; according to Chinese Foreign Ministry Spokesman Lu Kang.
Top Asian News
- Hong Kong Train Collision Marks Latest Mishap for City Metro
- Some at BOJ Are Said to See Price Goal Out of Reach Through 2021
- Takeda Is Said to Plan Sale of Tachosil in Shire Divestments
- Sensex, Nifty Pare Gains After Five-Day Rally to Six- Month Highs
- India Seeks Higher Weighting in MSCI Equity Indexes, Report Says
Mixed start to the week for major European indices [Stoxx 600 +0.1%] following a relatively optimistic lead from Asia where China outperformed amid liquidity efforts by the PBoC coupled with the Chinese government’s steps to enhance the country’s economy. UK’s FTSE 100 (+0.6%) is the marked outperformer and major beneficiary from the surge in base metal prices with heavyweight miners all sitting comfortably at the top of the index (Rio Tinto +2.5%, Anglo American +2.3%, Antofagasta +2.1%, Glencore +1.8%). Sector-wise, material names initially outperformed (for the aforementioned reason) but was later overtaken by financial names ahead of a plethora of central bank rate decision including FOMC and BOE. Financial names may also feel support from the Deutschebank (+3.1%)/Commerzbank (+5.8%) saga, with the latest reports confirming merger talks between the two banks after the German government approved the tie-up, although, German union Verdi warned that merger could put up to 30k jobs at risk, to which the government replied that jobs at stake are being examined. On a broader front for European banks, GS notes that the sector has been amongst the weakest performers in the Stoxx 600 YTD as the banks continue to battle with concerns over long term growth. In terms of strategy, GS noted that Japanese banks trades at an even lower multiple than the European, but the latest TLTRO move (although positive for sector liquidity) “further erodes the competitive advantage of European banks”. GS is taking a neutral stance on the European equity market over the next three months.
Top European News
- Italy’s Nexi Files for IPO in Milan, to Begin Offer in April
- Domino’s Pizza Group Says Talks With Franchisees Continuing
- After Danske, Next Dirty Money Risk Is Examined in Denmark
- Leoni Falls After Cutting 2,000 Jobs, Guidance on Autos Slowdown
In FX, both AUD/NZD are off overnight highs, but the Aussie and Kiwi remain elevated and ahead of their G10 counterparts on a combination of renewed risk appetite, short covering and for the former also a supply-related rise in iron ore prices following further production problems for Brazil’s Vale. Aud/Usd has extended its rebound to 0.7100+ and Nzd/Usd to around 0.6875 as the Aud/Nzd cross pivots 1.0350 ahead of Westpac’s NZ Q1 consumer survey later today and Q4 GDP on Wednesday. In terms of options, large expiries in Nzd/Usd run off later, including 1 bn at 0.6825 and 1.5 bn at 0.6925.
- GBP – In contrast to the outperformance down under noted above, the Pound has handed back gains vs a generally soft Dollar and weakened relative to the Euro amidst ongoing Brexit uncertainty after last week’s string of UK Parliamentary votes, as PM May strives to drum up DUP support for the current Withdrawal Agreement in the hope that this may entice enough of the ERG to back the deal in time for a pre-EU Summit 3rd MV. Cable has backed off from another 1.3300 venture to sub-1.3250 and Eur/Gbp has bounced to around 0.8570 vs circa 0.8510 at one stage, with a hefty 1.7 bn option expiry at the 0.8500 strike now looking pretty safe.
- EUR – Aside from benefiting from Sterling’s Brexit angst, the single currency has taken advantage of the aforementioned Greenback weakness post-recent soft if not quite downbeat US data and pre-FOMC. Indeed, the headline pair has rebounded further from early March lows (in wake of the dovish ECB) to establish a firmer footing above 1.1300 and briefly touched 1.1350, with the next bullish targets at 1.1367 and 1.1373 (100 DMA and 50% Fib of the 1.1570-1.1177 move respectively).
- CHF/CAD/JPY – All narrowly mixed vs the Greenback, as the Franc attempts to break resistance at the psychological parity level in the run up to the SNB and FOMC, but holds steady vs the Eur on the 1.1350 pivot, while the Loonie sits midway between 1.3300-50 ahead of Canadian securities data for January and the Jpy straddles 111.50 in wake of mixed Japanese trade figures and reports suggesting that some BoJ members are not even sure if the 2% inflation target is attainable by 2021. Note also, decent option expiry interest could be influential given 1.1 bn rolling off from 111.55-60 today.
In commodities, WTI (-0.4%) and Brent (-0.2%) futures are marginally lower as participants digest the latest from the meeting of the OPEC cartel in Baku, although there seems to be some discrepancy as to when the next JMMC meeting will take place. Energy futures saw a marginal leg lower, with WTI losing more ground below its 100 WMA (USD 58.46/bbl) after sources stated that the JMMC panel recommended no meeting in April, but the Kazakh Energy Minister said nothing was set in stone. Furthermore, the Iraqi Energy Minister reportedly confirmed that the next JMMC meeting will take place in June, however sources later came out with a May meeting in Riyadh. Prices were little affected by developments over the weekend wherein the Saudi Energy Minister stated that the Kingdom’s March and April output is to drop to around 9.8mln BPD vs. February level of 10.09mln BPD (January 10.24mln BPD). Recalling some comments from last week, a Saudi official stated that March an April output is to be “well below” 10mln BPD. Saudi did however mention that OPEC’s job from rebalancing is far from over whilst signalling that output curbs need to be extended to H2 2019. Elsewhere, the metals complex is bolstered by a pullback in the Greenback with gold reclaiming the USD 1300/oz level and breaching its 50 DMA to the upside at 1304.10 whilst copper prices benefit from the overall risk appetite. Finally, Dalian iron ore futures surged over 3% on supply concerns after a Brazilian court ordered Vale halts operations at another mine and as the miner suggested a 12mln ton decline in annual output due to dam suspensions.
US Event Calendar
- 10am: NAHB Housing Market Index, est. 63, prior 62
DB’s Jim Reid concludes the overnight wrap
I hope you had a good weekend and if around Northern Europe that you survived the gales that played havoc with my golf ball on Saturday. Yesterday, I thought myself very clever for taking the family to a miniature steam railway as all three children are currently obsessed with trains. As fun as it was it was a little embarrassing as the event seemed to be predominantly aimed at steam engine enthusiasts rather than children. So a lot of older men with big bushy beards, flat caps and notebooks! I’d imagine their first note was that those three children make a lot of noise!
Talking of noise, it’s possible that Brexit muffles will amplify to a crescendo this week as Mrs May will more than likely try to bring her twice defeated Withdrawal Agreement back to the House of Commons tomorrow. We’ll find out today and much will depend on whether the DUP agree to back it after talks continue today. The UK’s Chancellor of the Exchequer Philip Hammond said in a weekend interview with BBC TV that PM May will only put her WA to another vote if there is a strong chance that it will be approved while adding that otherwise PM May will head to the EU summit on Thursday possibly seeking a long delay to Brexit. The magnitude of her task is best explained by the fact that the first and second attempt were the largest and fourth largest defeats in the whole history of the House of Commons with the second and third being the same bill on the same day in 1924. The likelihood is that the vote will be pretty tight if the DUP agree to vote for it as they will bring tens of Tory MP’s along with them. However, there are a hardline group of Brexiteers (possibly 15-25 depending on reports) who dislike the deal so much that very little would change their mind even though a softer (or no) Brexit is the likely outcome if the WA doesn’t pass very soon. So best case scenario is that Mrs May probably needs to secure over 10 opposition Labour MPs to get over the line. She only had three last time. If she doesn’t get it over the line it will be over to the EU at their council summit on Thursday and Friday to decide what length of extension they offer the UK to Article 50 and what the conditions will be. The direction of travel seems to be towards a lengthy one of at least a year if the WA doesn’t pass or a quick alternative plan is not reached. In the offer of such a lengthy delay, the EU would hope to either focus the minds of the Brexiteers voting against the current deal or leave time for the UK to change its mind or commit to a softer Brexit. Remember the government has committed to indicative votes (probably early April) but we may still see a fourth attempt to pass the WA before that.
Outside of Brexit, we have both a BoE (Thursday) and Fed meeting (Wednesday) this week as well as the aforementioned EU council meeting on Thursday/Friday. As for data, the undoubted highlights are the flash global PMIs on Friday.
Briefly previewing the Fed, no change in policy is expected and the meeting should reinforce the message that the Fed will remain patient for now. That being said, our economists believe that there are two key topics that market participants should focus on. The first is any signals about the timeline for ending the Fed’s balance sheet unwind and the second is any insights into the conditions needed to drop their patient guidance and possibly raise rates again later in 2019. On the former, while an announcement of the date for stabilising the SOMA portfolio is possible next week, we now think it is more likely at the May FOMC meeting. On the latter, Powell should maintain significant flexibility while likely reiterating that a dissipation of the crosscurrents, evidence of continued above-potential growth, and higher inflation are all likely preconditions for another rate increase this cycle.
As for the flash March PMIs around the globe, a reminder that last month in Europe we saw the manufacturing print slide below 50 for the first time in nearly 6 years to 49.3 for the Euro Area. That also confirmed declines in 13 out of the last 14 months after peaking at 60.6 in December 2017. The consensus expects another below 50 print at 49.5, albeit one which would at least signal that we’ve potentially hit the lows. In contrast, the services sector picked up last month with the Euro Area reading up from 51.2 to 52.8. The consensus expects a small pullback to 52.5. So expect there to be a continued focus on the services versus manufacturing divergence. In the US, the consensus expects the manufacturing PMI to jump 1pt to 54.0 and the services PMI to jump 0.5pts to 56.5.
Asian markets have started the week on a firm footing with China’s bourses leading the advance. The Shanghai Comp (+1.36%), CSI (+1.71%) and Shenzhen Comp (+1.47%) are all up along with the Nikkei (+0.59%), Hang Seng (+0.81%) and Kospi (-0.02%). Elsewhere, futures on the S&P 500 (+0.04%) are trading flattish. Overnight, we saw Japan’s February trade stats indicating that exports (at -1.2% yoy vs. -0.6% yoy expected) have now fallen for three months in a row while imports also declined larger than expectations (at -6.7% yoy vs. -6.4% yoy expected) bringing the trade balance to JPY 339.0bn (vs. JPY 305.1bn expected).
In other news, Saudi Arabia’s Energy Minister Khalid Al-Falih said, ahead of the planned OPEC+ meeting beginning today, that OPEC and its allies have much work ahead to balance global oil markets and are prepared to do what’s necessary in the second half. He said that OPEC+ needs to “stay the course” until June as its job is “nowhere near complete” in terms of restoring oil-market fundamentals. However, Russian Energy Minister Alexander Novak said at the same briefing that uncertainties arising from production in Venezuela and Iran make it difficult for the coalition to determine its next step before May or June. This indicates that we might not get any output cut extensions at today’s meeting. Oil prices (Brent -0.24% and WTI -0.41%) are trading weaker this morning.
Let’s recap last week’s market activity. US equities had their best weekly performance of the year last week, with the S&P 500 advancing +2.89% (+0.50% Friday) and the NASDAQ gaining +3.78% (+0.76% Friday). The DOW – up +1.57% on the week (+0.54% Friday) – lagged as Boeing underperformed sharply after its 737 Max plane was broadly grounded. European equities also had a strong week, with the Stoxx 600 advancing +2.84% (+0.68% Friday). Banks outperformed, with the Stoxx bank index gaining +5.16% (+1.12% Friday).
In fixed income, 10yr treasury yields fell -4.0bps (-4.1bps Friday), after the first economic data for March printed soft, as the Empire manufacturing survey unexpectedly fell to a 22-month low. 10yr US yields have only been lower on one day (Jan 3rd this year) over the last 14 months. In Europe, bund yields rose +1.5bps (-0.2bps Friday) but are still as low as 0.084%. The tightening spread between the two though helped the euro advance +0.83% (+0.21% Friday) versus the dollar, its biggest weekly rally since September. Meanwhile, the dollar index dropped -0.76% (-0.22% Friday) for its worst performance of the year. Credit markets rallied further, with HY spreads tightening -11bps and -19bps in the US and Europe, respectively (+1bps and -1bps on Friday, respectively).
Looking ahead, it is a quiet start to the week with the only data due being January industrial production in Japan, the January trade balance for the Euro Area and the March NAHB housing market index reading in the US.
3. ASIAN AFFAIRS
i)MONDAY MORNING/ SUNDAY NIGHT:
SHANGHAI CLOSED UP 74.69 POINTS OR 2.47% //Hang Sang CLOSED UP 396.75 POINTS OR 1/37% /The Nikkei closed UP 133.65 POINTS OR 1.37%/ Australia’s all ordinaires CLOSED UP .30%
/Chinese yuan (ONSHORE) closed UP at 6.7137 AS TRUCE DECLARED FOR 3 MONTHS /Oil DOWN to 58.43 dollars per barrel for WTI and 67.17 for Brent. Stocks in Europe OPENED GREEN EXCEPT DAX
ONSHORE YUAN CLOSED UP // LAST AT 6.7137 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.7154 / TRADE TALKS NOW ON/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED : /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW A FULL TRADE WAR COMMENCED
3 a NORTH KOREA/USA
3 b JAPAN AFFAIRS
3 C CHINA
China/FRIDAY night:
China has a looming liquidity shortage and this may explain why eventually the steam will run out of China as their growth machine stalls
(courtesy zerohedge)
China’s Looming Liquidity Shortage (Or Why Endless Stimulus Isn’t Working)
Chinese Premier Li promised yet more stimulus measures overnight from tax cuts to focused rate reductions (but, he admitted, not blanket liquidity provision).
But, after over 60 different ‘stimulus’ measures in the last few months and last night’s promises, nothing seems to be working as China’s economic data continues to tumble.
As Goldman’s Andrew Tilton (Chief Asia Economist) suggested:
“There are reasons to be concerned [that easing is becoming less effective]. Local government officials who typically implement infrastructure spending and other forms of stimulus are facing conflicting pressures. The emphasis in recent years on reducing off-balance-sheet borrowing, selecting only higher-value projects, and eliminating corruption has made local officials more cautious. But at the same time, the authorities are now encouraging local officials to do more to support growth, like accelerate infrastructure projects. President Xi himself recently acknowledged the incentive problems and administrative burdens facing local officials.”
And Nomura’s Ting Lu has an explanation for why China stimulus is not working…
Chinese easing- / stimulus- escalation being a likely requirement for any sort of “reflation” theme to work beyond a tactical trade:
yes, more RRR cuts are coming eventually (a better way for Chinese banks to obtain liquidity vs borrowing from MLF or TMLF, bc it’s cheaper and more stable)…
…but that the timing of such a cut is primarily dependent on the Chinese stock market, asthe “re-bubbling” happening real-time in Chinese Equities (CSI 300 +26.8% YTD; SHCOMP +24.4%; SZCOMP +34.0%) likely then constrains the room and pace of Beijing’s policy easing / stimulus
This “Chinese Equities rally effectively holding further RRR cuts hostage” then could become a serious “fly in the ointment” for near-term / tactical “reflation” (or bear-steepening) themes, as Q2 is on-pace to see a significant liquidity shortage.
Ting estimates the liquidity gap could reach ~ RMB 1.7T in Q2 due to the following factors:
- The size of the upcoming MLF maturities (est to be ~RMB 1.2T in Q2);
- The size and pace of (both central and local) government bond issuance (Nomura ests a target of ~ RMB 1T for Q2);
- Tax season effects; and
- The shortage of money supply through the PBoC’s FX purchases
CHINA’S COMING Q2 LIQUIDITY-SHORTAGE:
So, simply put, China is merely refilling a rapidly leaking bucket of liquidity, as opposed to sloshing more into the bath of global risk – even if Chinese stocks were embracing it.
end
Another huge sign that growth in China is slowing down: smart phone shipments have collapsed to a 6 year low
(courtesy zerohedge)
Smartphone Shipments In China Collapse To Six Year Low
Months after Apple stunned the market by announcing it would no longer be reporting quarterly iPhone unit sales, we have some insight as to the reason. February saw smartphone shipments in China collapse to their lowest levels in six years, indicating that the super-saturated industry has failed to turn around amidst a global economy that is grinding slower.
Shipments to China came in at 14.5 million units for February, down 19.9% from last year, according to Reuters, who cited the China Academy of Information and Communications Technology. It’s the lowest total since February 2013.
February is traditionally a tough month for Chinese consumer purchases, as the Chinese spend a majority of the month celebrating the new year. However, this year’s drop was more concentrated than past years, as a result of both a slowing economy and the ongoing U.S./China trade war.
When Apple recently cut sales forecasts this year, it blamed China for weighing on its results. To try and stimulate demand, the company paired with China-based Ant Financial to offer interest-free iPhone financing. Other retailers in China have tried similar promos to try and spur demand.
This has some manufacturers, like Huawei, looking to corner the higher margin end of the market instead. Huawei saw its market share of China’s $500 to $800 device segment rise to 26.6% from 8.8% in 2018, according to data from Counterpoint Research. Apple, on the other hand, saw its share fall to 54.6% from 81.2%.
As an added bonus, we recently reported on Chinese smartphones also emitting the most radiation of any smartphones worldwide.
The current smartphone creating the highest level of radiation is the Mi A1 from Chinese vendor Xiaomi.Another Chinese phone is in second place – the OnePlus 5T. In fact, the two companies are represented heavily in a list of “Phones Emitting the Most Radiation” that was recently released by Statista. 8 of the top 16 handsets being made by one of these two companies. Premium Apple phones, such as the iPhone 7 and the iPhone 8 are also here to be seen, as are the latest Pixel handsets from Google.
While there is no universal guideline for a ‘safe’ level of phone radiation, the German certification for environmental friendliness ‘Der Blaue Engel’ (Blue Angel) only certifies phones which have a specific absorption rate of less than 0.60 watts per kilogram. All of the phones featured here come in at more than double this benchmark.
END
Strange!! this news should have caused markets in China to falter..it didn’t…the Meeting between Trump and Xi is said to be delayed until June. (probably it will never happen)
(courtesy zerohedge)
Meeting Between Trump And Xi Said To Be Delayed Till June: SCMP
So much for the (delayed) April meeting between Trump and Xi.
According to a report by the SCMP, the meeting between US President Donald Trump and Chinese counterpart Xi Jinping to end the trade war which was tentatively pushed back from March to April, may be pushed back again, this time to to June, as the two leaders “will not be able to finalise an agreement by April.”
It had initially been hoped that they would be able to reach a deal more quickly, but one source who has been briefed on the arrangement told the South China Morning Post that a meeting in April was less likely, while another said the summit could be held in June.
As previously reported (almost daily), while the two nations have been stepping up negotiations on the text of the trade agreement, a SCMP source confirmed once again of the growing rift within the Trump administration regarding the deal with China, where the main division is how much importance will be attached to an enforcement mechanism to ensure the Chinese side lives up to its side of the bargain, or whether it will be enough to secure an agreement in principle and declare success.
Originally Trump and Xi were expected to meet at Trump’s Mar-a-Lago private resort in late March, but US ambassador to China Terry Branstad later said the summit had been delayed because the deal was still under discussion. Then, to much fanfare – with the narrative spun that a delayed meeting was only further proof of the two sides working hard to reach a deal – it was reported that the two leaders would meet in April, but the timetable now appears to have been put back once again.
It is not yet known where Trump and Xi would meet in June, but the Chinese president is also expected to travel to Osaka in Japan for the G20 summit.
For those who have missed the key hurdles to the signing of an official deal, the story goes like this: while the US has been content with China’s promises to purchase more goods from the US for the next few years, the White House has been pushing China to address what remain the biggest long-standing grievances including the alleged theft of intellectual property, forced technology transfer and unfair competition.
US trade rep Lighthizer has been one of the main figures pushing for an enforcement mechanism to ensure that Beijing lives up to any pledges it gives. But Beijing is growing alarmed by the proposals and argued that enforcement must be “two-way, fair and equal”. The tough stance taken by Washington’s top trade negotiator has won bipartisan support in the US Congress – where Democrats are now insisting that Trump not rush to deliver a weak deal just to boost markets – as well as respect from his Chinese counterparts who describe him as detail-oriented and unlikely to back down.
“Lighthizer is a very professional and experienced trade negotiator. Talking to him is the right track to take,” another source said.
“Lighthizer is a tough negotiator but China pays high respect to him. China needs to step up its research on him”.
Meanwhile, critics have suggested that Trump’s enthusiasm for more tariffs may have eased because of the recent stock market fall – Trump reportedly said that a trade deal would propel the Dow some 2,000 point higher, suggesting that Trump’s only goal is micromanaging of the stock maret – and concerns over the wider US economy, particularly from farmers who rely on exports to China. It has also been suggested that the reforms to China’s economic policies demanded by the US could take years to enact.
In the latest developments over trade talks, during a St Patrick’s Day reception at the White House on Thursday, Trump said: “We’ll have news on China. Probably one way or the other, we’re going to know over the next three to four weeks.” He added that China had been “very responsible and very reasonable,” saying: “If that one gets done, it will be something that people will be talking about for a long time.”
Regardless of yet another potential postponement to the meeting between the two presidents, the two sides are working to keep momentum going, and this week official Chinese state news agency Xinhua said “concrete progress” had been made following a phone conversation between Vice-Premier Liu He and US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday. The news, predictably, helped propel markets higher on the now traditional “trade war optimism” narrative when in reality the two sides appear to be drifting ever further apart as the easy aspects of the negotiation have all be ironed out, and now the only outstanding items remaining are those which will make any any meaningful deal impossible.
4.EUROPEAN AFFAIRS
France:
For the 18th straight weekend, the Yellow vests tormented France.. It turned violent again this weekend as macron’s “great Debate” ends.
(courtesy zerohedge)
5.RUSSIAN AND MIDDLE EASTERN AFFAIRS
6.GLOBAL ISSUES
7 OIL ISSUES
A very important read on how the Nordstream 2 project will proceed with Trump having no influence in stopping it. Luongo explains how Europe, Russia and the uSA interests will play out on this issue
(courtesy TomLuongo)
Time Runs Out On US Opposition To Nordstream 2
The Nordstream 2 pipeline represents the last stand of U.S. influence over the internal affairs of Europe.
Once finished it will stand as a testament to the fundamental split between the European Union and the United States.
Europe will this as its first successful defense of its newly-declared independence. And the U.S. will have to come to terms with no longer having control overseas.
This is a theme repeating itself all around the world right now.
Your view of Nordstream 2 depends on who you are.
- If you are the U.S. it is a massive rebuke of the post-WWII institutional order mostly paid for by the U.S. to rebuild Europe and protecting it from the scourge of the U.S.S.R.
- From Europe’s perspective it’s, “Job well done and all that but Russia isn’t a threat anymore and it is time for us to come out from underneath the U.S.’s shadow.”
- And if you are Russia Nordtream 2 is the wedge driving these two adversaries apart while improving national security on your western border.
Europe has imperial ambitions of its own and Nordstream 2 is a very important part of that. Those ambitions, however, are not in line with those in the U.S., particularly under the “leadership” of Donald Trump.
Trump has this strange idea that the U.S. has gotten nothing in return for our running the world these past seventy-odd years. Our massive trade deficit is wealth stolen by our trade partners in Trump’s simplistic mind.
He refuses to see the wealth we’ve ‘lost’ as squandered by decades of corruption, sloth, regulatory over-reach, etc.
And so, to Trump, Nordstream 2 is an abomination because he’s funding NATO to protect Europe from Russia but they then are increasing the amount of gas they buy from that very same ‘enemy.’
And that should tell you where all of this is headed in the long run.
The dissolution of NATO through attrition by both Russia and the EU.
So, no matter how much the U.S. and the anti-Russian forces within European and British society want to stop this pipeline, as evinced by this week’s non-binding vote against it in the European Parliament, there isn’t the appetite in the U.S. to actually do it.
The U.S. Senate has no interest in telling the President to sanction the companies building Nordstream 2. It may not stop Trump from doing so anyway.
The real reason Trump won’t sanction Nordstream 2 is the same reason he will fold to China on trade: dollar liquidity and world trade.
He’s already done enough damage. Now he’s staring re-election in the face with a hostile Federal Reserve.
If he were going to do sanction Nordstream 2 he would have. In fact, this vote in the European Parliament sis a feeble last gasp to stop the pipeline not the shrewd move of a guy holding pocket aces.
Precisely because the U.S. hasn’t imposed sanctions on it yet this is all we have left, pathetic virtue signaling.
If it’s going to happen it has to be before the European Parliamentary elections in May when we can expect at least a doubling of Euroskeptic representation.
If things continue to spiral out of control in France, Italy hardens even further against the EU and Brexit is postponed Euroskeptics could be the largest block in the Parliament come July.
At that point we’ll see a sincere lowering of the influence of the infamous Soros List in that body and possibly in the European Commission itself. And, if anything, more pipeline deals and investment in Russian energy.
In fact, a Euroskeptic Parliament could lift sanctions on Russia completely.
Moreover, Ukraine’s upcoming elections will likely bring someone to power not thoroughly beholden to the U.S.’s strategy there.
Between that and Ukrainian parliamentary elections later this year we’ll likely see Ukraine and Gazprom renegotiate the gas transport contract, bringing even more Russian gas to the continent.
And that will only make Trump even madder than he is now. He has staked so much of his overall strategy on the U.S. as a powerful petroleum exporter. He needs markets for that gas.
Europe and China are two obvious ones but Russia has him outflanked now on both.
The end of this interminably shallow expansion brings the U.S. face to face with an unsustainable fracking boom as debt-servicing spikes demand for the dollar sparking a sharp rise in interest rates.
The shale market will break again.
All of this confirms for me that the Garden Summit last summer between Putin and German Chancellor Angela Merkel laid out their strategy to beat Trump on Nordstream 2 and begin the next phase of relations between Russia and Germany.
Optics are important and this image captures what both parties wanted to convey. This meeting is the beginning of a shift in the relationship between Germany and Russia for the better.
And the question is why?
The obvious answer is necessity brought about by pressure being placed on both countries by Donald Trump through sanctions and tariffs and their shared interests represented by the Nordstream 2 pipeline.
And all that implies.
8. EMERGING MARKETS
Venezuela
More evidence that Venezuela is a basket case: total chaos everywhere after the blackout…
(courtesy zerohedge)
“This Country Has Gone To Hell”: Total Chaos In Venezuelan Oil Capital After Blackout
Venezuela’s oil capital, Maracaibo, was ransacked and looted in the midst of a blackout that hit the country around March 7. Even as the lights started to come back on, looting continued and residents overpowered disputed President Nichloas Maduro’s security forces. Store owners are just now starting to clean up, according a new Bloomberg article, which paints a picture of Venezuela as a country on the edge of total anarchy.
Enrique Gonzalez, an 18 year old bus conductor said: “If people made enough to make ends meet, we wouldn’t be trying to get by like this. This country has gone to hell.” His driver, at the time, was pillaging a Pepsi warehouse, where thousands of bottles had been looted in hours and where people were now ripping out spare copper wire and scrap metal.
Empresas Polar SA, a Venezuelan food giant, reportedly saw its Pepsi plant lose thousands of cases of beer and soda, 160 pallets of food, 22 trucks and five forklifts. A home improvement shopping center also saw its 50 stores looted by people who broke through its iron gates and glass doors. Travel agencies, cosmetic stands and snack shops were all pillaged among the chaos.
Bernardo Morillo, 60, who built and manages the mall told Bloomberg: “It’s hard to swallow. The national guard stood by as this vandalism happened and the firefighters didn’t even show.’’
Ricardo Costa, vice president of the Zulia state chapter of the Fedecamaras business group said: “…security forces were useless as people took anything of value, including cash machines, door frames, ovens, computers and surveillance cameras…”
The country’s Centro 99 food market saw looters pick its shelves clean. “They even carried off the lard and flour to bake bread in their bare hands,’’ the store’s manager said.
The looting started last Saturday afternoon after an ice company, on a hot day, demanded that it be paid in dollars. A crowd instead tore through its factory and then continued onto nearby pharmacies and stores. By the evening, the entire city was taken over by people seeking out life’s necessities by any means necessary.
Costa continued: “How is it possible that a thousand guardsmen are deployed to repel 50,000 protesters, but when a thousand looters come to a mall only 50 were sent?’ You could say this began because people are hungry, but the looters didn’t take just food — it morphed into aimless vandalism.’’
“Everyone knows that working here means working in anarchy, that anything can happen to you at any moment,” one local watchman said while watching his store disintegrate in front of him.
“They’re pulling wires, air conditioners, pipes — they’re literally running off with the roof.’’
end
Your early morning currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings MONDAY morning 7:00 AM….
Euro/USA 1.1356 UP .0036 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems + USA election:///ITALIAN CHAOS /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES GREEN (EXCEPT GERMAN DAX
USA/JAPAN YEN 111.48 UP .060 (Abe’s new negative interest rate (NIRP), a total DISASTER/NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…
GBP/USA 1.3266 DOWN 0.0017 (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED
USA/CAN 1.3318 DOWN .0016 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)
Early THIS MONDAY morning in Europe, the Euro ROSE by 36 basis points, trading now ABOVE the important 1.08 level RISING to 1.1356 Last night Shanghai composite closed UP 74.67 POINTS OR 2.47%/
//Hang Sang CLOSED UP 396.75 POINTS OR 1.37%
/AUSTRALIA CLOSED UP 0.40%/EUROPEAN BOURSES GREEN EXCEPT GERMAN DAX
The NIKKEI: this MONDAY morning CLOSED UP 133.65 POINTS OR 0.62%
Trading from Europe and Asia
1/EUROPE OPENED GREEN EXCEPT GERMAN DAX
2/ CHINESE BOURSES / :Hang Sang CLOSED UP 396.75 POINTS OR 1.37%
/SHANGHAI CLOSED UP 74.67 POINTS OR 2.47%
Australia BOURSE CLOSED UP .30%
Nikkei (Japan) CLOSED UP 133.65 POINTS OR 0.62%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 1305.65
silver:$15.35
Early MONDAY morning USA 10 year bond yield: 2.59% !!! UP 0 IN POINTS from FRIDAY’S night in basis points and it is trading WELL ABOVE resistance at 2.27-2.32%. (POLICY FED ERROR)/
The 30 yr bond yield 3.02 UP 0 IN BASIS POINTS from FRIDAY night. (POLICY FED ERROR)/
USA dollar index early MONDAY morning: 96.40 DOWN 20 CENT(S) from FRIDAY’s close.
This ends early morning numbers MONDAY MORNING
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And now your closing MONDAY NUMBERS \12: 00 PM
Portuguese 10 year bond yield: 1.26% DOWN 5 in basis point(s) yield from FRIDAY/
JAPANESE BOND YIELD: -.04% DOWN 1 BASIS POINTS from FRIDAY/JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 1.15% DOWN 4 IN basis point yield from FRIDAY
ITALIAN 10 YR BOND YIELD: 2.42 DOWN 9 POINTS in basis point yield from FRIDAY/
the Italian 10 yr bond yield is trading 127 points HIGHER than Spain.
GERMAN 10 YR BOND YIELD: FALLS TO +.08% IN BASIS POINTS ON THE DAY//
THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 2.34% AND NOW ABOVE THE THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A MASSIVE BANK RUN…
END
IMPORTANT CURRENCY CLOSES FOR MONDAY
Closing currency crosses for MONDAY night/USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.1342 UP .0020 or 20 basis points
USA/Japan: 111.36 DOWN .114 OR YEN UP 11 basis points/
Great Britain/USA 1.3229 DOWN .0055( POUND DOWN 55 BASIS POINTS)
Canadian dollar DOWN 9 basis points to 1.3342
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The USA/Yuan,CNY closed AT 6.7130 0N SHORE (UP)
THE USA/YUAN OFFSHORE: 6.7200( YUAN DOWN)
TURKISH LIRA: 5.4638
the 10 yr Japanese bond yield closed at -.04%
Your closing 10 yr USA bond yield DOWN 1 IN basis points from FRIDAY at 2.59 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 3.01 DOWN 1 in basis points on the day /
THE RISE IN BOTH THE 10 YR AND THE 30 YR ARE VERY PROBLEMATIC FOR VALUATIONS
Your closing USA dollar index, 96.58 DOWN 2 CENT(S) ON THE DAY/1.00 PM/
Your closing bourses for Europe and the Dow along with the USA dollar index closing and interest rates for MONDAY: 12:00 PM
London: CLOSED UP 63.80 OR 0.88%
German Dax : DOWN 42.37 POINTS OR 0.36%
Paris Cac CLOSED DOWN 0.94 POINTS OR 0.02%
Spain IBEX CLOSED UP 46/70 POINTS OR 0.50%
Italian MIB: CLOSED UP 158.86 POINTS OR 0.75%
WTI Oil price; 58.99 1:00 pm;
Brent Oil: 67.38 12:00 EST
USA /RUSSIAN / ROUBLE CROSS: 64.47 THE CROSS LOWER BY 0.32 ROUBLES/DOLLAR (ROUBLE HIGHER BY 32 BASIS PTS)
TODAY THE GERMAN YIELD FALLS TO +.08 FOR THE 10 YR BOND 1.00 PM EST EST
END
This ends the stock indices, oil price, currency crosses and interest rate closes for today 4:30 PM
Closing Price for Oil, 4:00 pm/and 10 year USA interest rate:
WTI CRUDE OIL PRICE 4:30 PM : 59.05
BRENT : 67.39
USA 10 YR BOND YIELD: … 2.60…DEADLY//not buying the rise in the dow/nasdaq
USA 30 YR BOND YIELD: 3.01..
EURO/USA DOLLAR CROSS: 1.1341 ( UP 19 BASIS POINTS)
USA/JAPANESE YEN:111.40 DOWN .071 (YEN UP 7 BASIS POINTS/..
USA DOLLAR INDEX: 96.50 DOWN 9 cent(s)/
The British pound at 4 pm: Great Britain Pound/USA:1.3256 DOWN 28 POINTS FROM YESTERDAY
the Turkish lira close: 5.4638
the Russian rouble 64.35 UP .44 Roubles against the uSA dollar.( UP 44 BASIS POINTS)
Canadian dollar: 1.3342 DOWN 9 BASIS pts
USA/CHINESE YUAN (CNY) : 6.7130 (ONSHORE)/
USA/CHINESE YUAN(CNH): 6.7186 (OFFSHORE)
German 10 yr bond yield at 5 pm: ,0.08%
The Dow closed UP 65.23 POINTS OR 0.25%
NASDAQ closed UP 25.95POINTS OR 0.34%
VOLATILITY INDEX: 13.11 CLOSED UP 0.23
LIBOR 3 MONTH DURATION: 2.625%//
FROM 2.614
And now your more important USA stories which will influence the price of gold/silver
TRADING IN GRAPH FORM FOR THE DAY/WEEKLY SUMMARY/FOLLOWED BY TODAY
Buying-Panic At Open & Close Rescues Stocks From Yield-Curve Tumble
Without the gamma-reaching momo-igniting fuel of quad-witch, markets largely went nowhere fast…apart from the buying panic at the open and close
After a couple of days of violent downside, Chinese stocks soared again on Monday:
After a couple of days of violent downside, Chinese stocks soared again on Monday…
Mixed picture in Europe with DAX down but UK’s FTSE leading…
Other than the low-liquidity melt-ups at the open and close, US equity markets were a snoozefest as the Dow traded in a narrow range despite Boeing’s efforts to insert some vol. Post-Quad-Witch, and pre-Fed, everyone appears to be sitting in their hands…
Crazy day in “most-shorted” stocks…
There is one notable fly in the ointment – IHS Markit’s short interest as a percentage of shares outstanding shot up by 1.16 ppts Thursday and Friday to 5.45%, the biggest two-day jump in short interest since early December…
Similar picture evolved in buyback-related stocks, surging at the cash open…
In other equity market news, Brazil’s IBOVESPA topped 100,000 for the first time today… (but spoiling the party just a little, we note that in USD terms it remains down 40% from its highs)…
VIX was crushed back towards a 12 handle after surging in the early going…
The gap between Stocks and Bonds continues (around 120 S&P points now!!)
Treasury yields rose by 1-2bps across the curve today but the long-end outperformed…
The Treasury curve flattened notably today – 2s10s flattest close since Jan 29th (FOMC), but 2s30s tumbled the most on the day…
Notably, 30Y yield is just below where it was in December when the Fed last hiked rates (and the rest of the curve is 20-26bps lower)…
The Dollar Index dipped back into the red this afternoon after rallying through the early day…
Bitcoin Cash surged…
Bitcoin topped $4000 twice over the weekend but was unable to hold it for now…
WTI extended its gains as Gold and Crude clung to unchanged…
Gold managed to bounce and hold above $1300…
Finally, as FOMC looms, Jay Powell will face an uphill battle to out-dove the market’s expectations… (of a 16bps rate-cut in 2019)
Who will be right? Bonds Or Stocks?
MARKET TRADING/
Graham Summers is right: the 10 yr bond yield at 2.59% is telegraphing some major disasters are on the horizon
(courtesy Graham Summers))
Trust Me, You Don’t Want to Ignore What Bonds Are Saying Right Now
While stocks continue to push higher, the bond market is quietly preparing for disaster.
The yield on the 10-Year US Treasury has collapsed to within spitting distance of the December lows. For those with short-term memory issues, that was when investors were piling into Treasuries while stocks were in complete meltdown mode.
————————————————-
This Might Be the Single Best Options Trading System in the Planet
Boeing Slides As BEA Confirms “Clear Similarities” In 737 Crashes, Ethiopian Air Freezes Orders
Boeing shares are sliding back lower off their opening rebound from overnight lows of FAA/Boeing probe headlines.
Confirming the Ethiopian government’s comments yesterday, Bloomberg reports that the team investigating the crash of a Boeing 737 Max operated by Ethiopian Airlines noted “clear similarities” between the flight-recorder data from the crashed airplane and that of Lion Air Flight 610, French air-safety agency BEA says in a tweeted statement:
BEA | Bureau d’Enquêtes & d’Analyses@BEA_Aero
03/10 accident to the #Boeing737Max @BoeingAirplanes @flyethiopian / Press release from @BEA_Aero / @NTSB_Newsroom @FAANews @BoeingAirplanes
Data from the flight-data recorder and the cockpit-voice recorder has been transferred to the Ethiopian Accident Investigation Bureau, BEA says.
“During the verification process of the FDR data, clear similarities were noted by the investigation team between Ethiopian Airlines Flight 302 and Lion Air Flight 610, which will be the subject of further study during the investigation.”
Ethiopian Accident Investigation Bureau plans to release a preliminary report within 30 days
Additionally, it appears the backlog of orders that underpins so many of the analyst community’s unrelenting bullishness may be under pressure as Ethiopian Airlines Group’s remaining orders for Boeing Co. 737 Max aircraft will depend on preliminary results of an investigation of a March 10 crash that killed 157 people, according to spokesman Asrat Begashaw.
Ironically, as Reuters reports that Boeing’s losses are not Airbus’ gains, because, unfortunately for 91 billion euro Airbus, chock-full production lines and order books stretching for years mean it can’t take up much slack.
ii)Market data/
iii)USA ECONOMIC/GENERAL STORIES
This is something that we should be worried about…radio frequencies from cell phones.
(courtesy Michael Snyder)
California Parents Want Cell Phone Tower Taken Down Because Kids Just Keep Getting Cancer
Authored by Michael Snyder via The End of The American Dream blog,
Could this be one of the reasons why cancer rates are steadily rising all over the world? The radiation that we are constantly being bombarded with by the cell phone industry is one of the greatest environmental scandals in history, and yet the environmental movement is almost completely silent about this crisis. As you will see below, scientific study after scientific study has linked cell phone use to cancer, and yet nothing is being done. Instead, the big cell phone corporations are about to roll out their ultra-powerful 5G network nationwide, and that is just going to make this health crisis much worse.
Perhaps you are skeptical that cell phone radiation is a major threat.
Well, if your kid developed a life threatening case of cancer your attitude would probably change quite quickly. In northern California, parents are fighting like mad to have a cell phone tower removed after a fourth child at a single elementary school was diagnosed with cancer…
A fourth child has been diagnosed with cancer at a San Joaquin County elementary school, and parents believe it’s because of radiation caused by a cell phone tower.
The towers are spread throughout the community, but it’s this particular one that parents say needs to go.
“We had a doctor tell us that it’s 100 percent environmental, the kind of tumor that he has,” said Monica Ferrulli.
So far the school district is not budging. Perhaps it has something to do with the $2,000 a month that they are getting from the phone company.
Future generations are going to look back in horror at how self-destructive we were. All the science tells us that cell phone radiation is dangerous, and yet we just can’t help ourselves.
For example, a two year study conducted by researchers at the National Toxicology Program came up with some stunning results. The following comes from Scientific American…
Researchers at the National Toxicology Program, a federal interagency group under the National Institutes of Health, tested 3,000 rats and mice of both sexes for two years—the largest investigation of RF radiation and cancer in rodents ever undertaken in the U.S. European investigators at the Ramazzini Institute in Italy were similarly ambitious; in their recent study they investigated RF effects in nearly 2,500 rats from the fetal stage until death.
Also noteworthy is that the studies evaluated radiation exposures in different ways. The NTP looked at “near-field” exposures, which approximate how people are dosed while using cell phones. Ramazzini researchers looked at “far-field” exposures, which approximate the wireless RF radiation that bombards us from sources all around us, including wireless devices such as tablet and laptop computers. Yet they generated comparable results: Male rats in both studies (but not mice or female animals) developed schwannomas of the heart at statistically higher rates than control animals that were not exposed.
And a few years ago, a “study of studies” that was headed up by Igor Yakymenko caused quite a commotion in the scientific community…
Yakymenko’s meta-study — basically a study of hundreds of other studies — reveals many findings of previous researchers into how radiofrequency from your phone can damage DNA.
That damage can add up over time and cause a variety of health problems, like cancer, headaches, fatigue and even skin problems.
For example, using your phone for just 20 minutes a day for five years increased the risk of one type of brain tumor threefold, and using the phone an hour a day for four years upped the risk of some tumors three to five times, Yakymenko said.
And other studies have come up with similar results. The following comes from Natural News …
In 2011, the International Agency for Research on Cancer officially classified RFR as a “possible carcinogen.” This came a year after the international Interphone study found that people who used a cell phone for ten years were 40 percentmore likely to develop brain tumors. The risk was 400 percent higher among those who started using phones before the age of 20. Decade-long cell phone users were also more likely to develop parotid gland tumors and 300 percentmore likely to develop acoustic nerve tumors.
Are you starting to get the picture?
The science is exceedingly clear, but we just keep on ignoring it.
And now the new 5G network is being rolled out. This network is going to be much faster and much more powerful than the current network…
5G is going to be fast as hell. With the additional bandwidth it provides, estimates put its peak speed at 20 times faster than the 4G networks we’re chugging along on right now—and 4G isn’t even that slow. So speed is the obvious benefit.
“We have a lot of millennials and folks who’ve never had a landline, and so 5G’s so powerful that you might be able to not even have a cable internet service, if you don’t want to,” Murray says. “If you’re running Hulu and a bunch of other apps, you could just do it directly from whatever mobile device you’re using.”
But in order for the 5G network to function properly, the towers must be much, much closer together than our current 4G towers. So over the coming years the big cell phone companies are going to put up hundreds of thousands of little towers all over the country, and when they are done there will literally be one on just about every single street corner in heavily populated areas.
If you live in a major city, the truth is that there won’t be anywhere you will be able to go to escape the radiation.
And already cancer rates are completely and totally out of control. If you live in the United States, there is a 1 in 3 chance that you will get cancer during your lifetime.
If you are a man, the odds are closer to 1 in 2.
And what are those rates going to look like for the young people of today after they have been constantly exposed to cell phone radiation for their entire lives?
According to one recent survey, 45 percent of all American teens admit that they are on the Internet “almost constantly”…
Fully 95% of teens have access to a smartphone, and 45% say they are online ‘almost constantly’, according to the latest Pew Research Center poll, increasing concerns, about what The Atlantic’s Jean Twenge calls the most crucial question of our age… “have smartphones destroyed a generation?”
In the end, the cancer industry is just going to keep getting bigger and bigger and bigger. For much more on this, please see my previous article entitled “The Big Business Of Cancer: 100 BILLION Dollars Was Spent On Cancer Drugs Last Year Alone“.
This is a health crisis unlike anything that we have ever witnessed in all of U.S. history, but according to federal law local communities are banned from considering health concerns when deciding whether or not to put up cell phone towers…
However, according to federal law the city simply can’t consider health concerns. It’s outlined in a small section of the Telecommunications Act, based on science from 1996, back when we were still talking on cellphones that looked like bricks.
“I find it really unfair,” said Hiestand.
If cities do consider health, cell companies can sue them.
The corruption runs deep, and the big phone companies spend enormous amounts of money to make sure that things go their way in Washington.
So people will continue to get sick and die, and most people will never even understand why it is happening.
Boeing Tumbles On Grand Jury Subpoena Probing 737 MAX Approval
In the latest blow to both Boeing and the Federal Aviation Administration, the WSJ reported overnight that Federal prosecutors and Department of Transportation officials are scrutinizing the development of Boeing 737 MAX jetliners and in particular its anti-stall (MCAS) system, inquiries described as “unusual” and which come amid probes of regulators’ safety approvals of the new plane.
The Seattle Times separately reported that Boeing’s safety analysis of a new flight control system on 737 MAX jets had several crucial flaws.
According to the WSJ, a “grand jury in Washington, D.C., issued a broad subpoena dated March 11 – a day after the Ethiopian Airlines crash a week ago – to at least one person involved in the 737 MAX’s development, seeking related documents, including correspondence, emails and other messages.” The subpoena, with a prosecutor from the Justice Department’s criminal division listed as a contact, sought documents to be handed over later this month.
It wasn’t immediately clear if the Justice Department’s probe is related to scrutiny of the FAA by the DOT inspector general’s office, reported earlier Sunday by The Wall Street Journal and that focuses on a safety system that has been implicated in the Oct. 29 Lion Air crash that killed 189 people, according to a government official briefed on its status. Aviation authorities are looking into whether the anti-stall system may have played a role in last week’s Ethiopian Airlines crash, which killed all 157 people on board. The WSJ sources add that the inspector general’s inquiry focuses on ensuring relevant documents and computer files are retained.
The Justice Department probe involves a prosecutor in the fraud section of the department’s criminal division, a unit that has brought cases against well-known manufacturers over safety issues, including Takata Corp.
The news comes at a sensitive time for both the FAA, which was among the last regulators to ground the 737 Max following a broad global response (led by China) and for Boeing, whose stock has tumbled in the aftermath of the latest crash, and as the WSJ notes, “it is highly unusual for federal prosecutors to investigate details of regulatory approval of commercial aircraft designs, or to use a criminal probe to delve into dealings between the FAA and the largest aircraft manufacturer the agency oversees.”
Probes of airliner programs or alleged lapses in federal safety oversight typically are handled as civil cases, often by the DOT inspector general. The inspector general, however, does have authority to make criminal referrals to federal prosecutors and has its own special agents.
Ironically, over the years, U.S. aviation companies and airline officials have been sharply critical of foreign governments, including France, South Korea and others, for conducting criminal probes of some plane makers, their executives and in some cases, even individual pilots, after high-profile or fatal crashes. The FAA’s current enforcement policy stresses enhanced cooperation with domestic airlines and manufacturers—featuring voluntary sharing of important safety data—instead of seeking fines or imposing other punishment.
News of the U.S. government scrutiny comes shortly after Ethiopia’s transport minister, Dagmawit Moges, said there were “clear similarities” between the two crashes. U.S. officials cautioned that it was too early to draw conclusions because data from the black boxes of the Ethiopian Airlines plane still need to be analyzed. The two crashes – which may be linked to the same structural defect on the airliner – have sparked the biggest crisis Boeing has faced in about two decades, threatening sales of a plane model that has been the aircraft giant’s most stable revenue source and potentially making it more time consuming and difficult to get future aircraft designs certified as safe to fly.
The FAA said Sunday that the 737 MAX, which entered service in 2017, was approved to carry passengers as part of the agency’s “standard certification process,” including design analyses; ground and flight tests; maintenance requirements; and cooperation with other civil aviation authorities. Agency officials in the past have declined to comment on various decisions regarding specific systems. Sunday’s statement said the agency’s “certification processes are well established and have consistently produced safe aircraft.”
Earlier, a Boeing spokesman said: “The 737 MAX was certified in accordance with the identical FAA requirements and processes that have governed certification of all previous new airplanes and derivatives. The FAA considered the final configuration and operating parameters of MCAS during MAX certification, and concluded that it met all certification and regulatory requirements.”
Boeing Chief Executive Dennis Muilenburg said in a statement Sunday the company continues to support the Ethiopian investigation, “and is working with the authorities to evaluate new information as it becomes available.” Muilenburg added: “As part of our standard practice following any accident, we examine our aircraft design and operation, and when appropriate, institute product updates to further improve safety.”
Governments world-wide have grounded the MAX, an updated version of the decades-old 737, while investigators and engineers seek clues.
And so, as 737 Max scrutiny grows and as Boeing and the FAA now seek to deflect increased government attention to one another – Boeing stock is once again tumbling, and is down 3% in premarket trading…
… erasing most of Friday’s gains which followed a report from Boeing that a software “fix” is being rolled out, which in light of the latest news, may no longer be useful especially if the government finds that “shot cuts” were taken in the development of the plane.
SWAMP STORIES
A summary of the Lynch and Page testimony to Congress:
(courtesy Sara Carter)
Lynch Testimony Reveals Bias and Intent For Failing To Give Trump Defensive Briefing
President Donald Trump’s campaign was never given a defensive briefing by the FBI, despite mounting concerns that Russians were allegedly trying to penetrate the campaign during the 2016 presidential election.
In testimony provided by former Attorney General Loretta Lynch, along with others, it is the key finding that won’t bode well for the FBI and DOJ. It also raises significant questions regarding the treatment of Hillary Clinton’s campaign and whether she ever received ‘defensive briefings’ in detail from the bureau. Lynch’s testimony is still not public but has been reviewed by SaraACarter.com.
I WAS CERTAINLY AWARE THAT IT WAS AN OPTION, BUT I DON’T KNOW WHAT, IF ANYTHING, EVER HAPPENED TO THAT OPTION, SAID LYNCH
The defensive briefing, after all, is a procedure that is often given to presidential candidates, elected officials and even U.S. businesses that have either been unwittingly approached by foreign actors attempting to gain trust and befriend those in position of influence.
Senate Republicans Stand With Democrats, Betray American People
The briefing allows the government to protect the candidates, specifically if there is substantial information or knowledge to suggest that someone has targeted an unwitting American for information. If the FBI or intelligence agencies suspect foreign adversaries may be trying to penetrate a presidential campaign, as those FBI and DOJ sources suggested in testimony to lawmakers, it would then be required to warn those affected, a senior former intelligence official told SaraACarter.com.
Why? Because foreign adversaries like China and Russia for example, and even allies, will attempt to glean information – or favor – from unwitting persons with access to senior level officials. The access can assist those nation’s own national interest or provide access for intelligence collection
In the case of Trump, the FBI gave only a general counterintelligence briefing but did not provide information to the campaign that the FBI believed there were specific counterintelligence threats. (For example, the FBI’s concern over campaign advisors George Papadopolous, Carter Page and then concerns over former national security advisor Lt. Gen. Michael Flynn.)
“It is an essential task of the FBI and the intelligence community to give a defensive briefing to a presidential candidate when a foreign adversary is attempting to penetrate or make contact with someone in the campaign,” said a former senior intelligence official. “If the FBI and DOJ were so concerned about Carter Page and (George) Papadopolous why didn’t they brief Trump when he became a candidate? The fact that they didn’t is very revealing. If they gave defensive briefing to the Clinton campaign then I think we have the answer.”
Bruce Ohr’s 268-page testimony, released last week by Georgia Rep. Doug Collins reveals the machinations of the FBI’s investigation into the Trump campaign and the players involved. Ohr’s testimony coupled with testimony provided by former U.S. Attorney General Loretta Lynch, which has not been released but reviewed by this reporter, along with former FBI General Counsel James Baker’s testimony reveals a startling fact: everyone appeared to say they were concerned the Russian’s were penetrating the Trump campaign but no one at the DOJ or FBI authorized a defensive briefing.
Lynch and Failure to Give Defensive Briefing
Let’s start with Lynch’s testimony, which has not yet been made public.
In her testimony, Lynch she admits that senior officials at the FBI and DOJ did not provide a briefing to then candidate-Trump. Those discussions, according to Lynch, also included former FBI Director James Comey. It appears they all discussed that the defensive briefing was an option but never followed through. None of those persons who testified about those discussions has a clear answer to why none was given.
“Were you aware that George Papadopoulos was under investigation by the FBI,” an investigator asked Lynch during last years closed door hearing.
“I was aware that his activities were of concern,” Lynch replied.
“Were you aware that he was associated with the Trump campaign,” the investigator followed up.
Lynch then says, “you know, I knew that but, again, I don’t have specifics and certainly at that – thinking back to that time, I don’t know if I knew his role at that time in the campaign.”
The investigator then presses Lynch, asking “did you know he had some sort of role?”
“As far as my recollection is, yes,” Lynch answers.
The investigator goes one step further: “So there are these investigations launched into two individuals, in your mind, somehow associated with the Trump campaign…Did you consider any other options other than an investigation?”
Lynch explains, “it’s when information is provided to someone usually as a result of the intelligence community learning information that may impact them, in the context in which I’m aware of it, in their official role, or in their official business.”
The investigator then asks was “defensive briefings given to candidates for the presidency?”
“Certain types of defense briefings are, is my understanding,” Lynch states.”It’s not something that I was personally involved in. They received – they do receive security briefings. I’m only aware of that from discussions with members of the intelligence community.”
The revelation:
“Did you ever discuss whether the Trump campaign should be defensively briefed on either Carter Page or George Papadopoulos,” asks the investigator, who reiterates if they were under scrutiny whey didn’t the FBI and DOJ make Trump aware.
“I was certainly aware that it was an option, but I don’t know what, if anything, ever happened to that option,” Lynch answers. “Without getting into specific discussions, it certainly is an option that one would consider, but I don’t know if those actions were ever taken.”
When asked if Lynch was involved in discussing defensive briefings with the Trump campaign about Carter and Papadopolous, she only replies “not to the level of giving direction.”
“Again, I’m just being careful because of the nature of the information,” she stresses. “Certainly, it’s always an option, but at a very early stage, you would have it as an option, and you would evaluate it as time goes on, and I don’t have any information about further resolution of that issue.”
Lisa Page
Lisa Page’s testimony may answer some questions as to why the Trump campaign was not given a defensive briefing.
She states that Trump was not a target at the time but that it was members of his campaign that the bureau was concerned about.
This makes no sense at all. If the FBI was concerned about allegations that Carter Page and Papadopolous were allegedly being influenced by the Russians they would’ve given Trump, who was a presidential candidate at the time, a defensive briefing.
The FBI had worked with Carter Page in the past on a separate case connected to Russia so why wouldn’t the FBI provide a fair warning to Trump when Carter Page joined as a volunteer for the campaign.
In Page’s transcript she indicated to Rep. John Ratcliff, R-Texas, under questioning that the bureau had no evidence of collusion between the Trump campaign and Russia prior to launch of the FBI and special counsel investigation.
“So I think this represents that even as far as May of 2017, we still couldn’t answer the question,” said Page, who said that up until May 2017 the bureau still didn’t have any evidence of collusion or conspiracy.
Gowdy Questions Page
Under questioning by then-Rep. Trey Gowdy, R-SC, regarding her text messages to Strzok, Page states that the bureau was concerned about someone in the campaign was working with Russians to get damaging information on Clinton. But she admitted that they still didn’t have evidence up until May 2017?
“We had a number of discussions up through and including the Director regularly in which we were trying to find an answer to the question, right, which is, is there someone associated with the campaign, who is working with the Russians in order to obtain damaging information about Hillary Clinton,” Page told Gowdy, regarding the texts.
She also says later in her testimony to Gowdy “as I sort of explained, if he is not going to be President, then we don‘t need to burn longstanding sources and risk sort of the loss of future investigative outlets, not in this case, but in other Russia–related matters…”
Page states that the FBI didn’t believe Trump was colluding with Russia but maybe someone was within in the campaign. In her mind Trump wasn’t going to win so why “burn longstanding sources.”
The one question I would’ve those testifying, is the one question the lawmakers never asked: ‘Did the DOJ and FBI provide defensive briefings to Hillary Clinton’s campaign at any point in time and on any matter involving any foreigners attempting to access her campaign?’
If anything, this is a significant question that DOJ Inspector General Michael Horowitz should consider as he continues his investigation into possible malfeasance in the FBI’s handling of Trump campaign and Russia investigation.
end
Former Obama Officials Ordered By Judge To Answer Questions Over Clinton Emails
A federal judge ordered multiple senior Obama Administration officials, State Department officials and former Hillary Clinton aides Thursday to provide answers under oath to questions requested by Judicial Watch after a roughly four year court battle.
Judicial Watch, a leading conservative non-profit watchdog group, announced the schedule of depositions in their case in a press release Thursday. The Judicial Watch questions regard two separate cases regarding the Obama administration’s actions during the Benghazi terrorist attack on the U.S. Consulate and CIA Annex in Libya, and Hillary Clinton’s use of a private server to send classified government emails.
“Judicial Watch is doing the heavy lifting on the ongoing Clinton email scandal, even as Congress dropped the ball and DOJ and State continued to obstruct our quest for the truth,” said Judicial Watch President Tom Fitton, in a press release Thursday.
“The Court in our case wants real answers on the Clinton email scandal which is why our request for basic discovery was granted.”
District Judge Royce C. Lamberth ordered senior officials — including Susan Rice, Ben Rhodes, Jacob Sullivan, and FBI official E.W. Priestap – to respond under oath and submit the answers in writing to the questions provided by Judicial Watch. The decision from Lamberth was made this past January.
Lamberth ordered the discovery from the watchdog’s July 2014 FOIA lawsuit, which was filed after the State Department failed to respond to an earlier request made May 13, 2014.
Judicial Watch requests:
- Copies of any updates and/or talking points given to Ambassador Rice by the White House or any federal agency concerning, regarding, or related to the September 11, 2012 attack on the U.S. consulate in Benghazi, Libya.
- Any and all records or communications concerning, regarding, or relating to talking points or updates on the Benghazi attack given to Ambassador Rice by the White House or any federal agency.
Judicial Watch’s discovery will seek answers to:
- Whether Clinton intentionally attempted to evade the Freedom of Information Act (FOIA) by using a non-government email system;
- whether the State Department’s efforts to settle this case beginning in late 2014 amounted to bad faith; and
- whether the State Department adequately searched for records responsive to Judicial Watch’s FOIA request.
The confirmed discovery schedule now includes:
- March 12: State Department’s responses to interrogatories and document requests were due.
- March 14: Deposition of Justin Cooper, a former aide to Bill Clinton who reportedly had no security clearance and is believed to have played a key role in setting up Hillary Clinton’s non-government email system.
- April 5: Deposition of John Hackett, a State Department records official “immediately responsible for responding to requests for records under the Freedom of Information Act.”
- April 16: Deposition of Jacob “Jake” Sullivan, Hillary Clinton’s former senior advisor and deputy chief of staff.
- April 23: Deposition of Sheryl Walter, former State Department Director of the Office of Information Programs and Services/Global Information Services.
- April 26: Deposition of Gene Smilansky, a State Department lawyer.
- April 30. Deposition of Monica Tillery, a State Department official.
- May 7: Deposition of Jonathon Wasser, who was a management analyst on the Executive Secretariat staff. Wasser worked for Deputy Director Clarence Finney and was the State Department employee who actually conducted the searches for records in response to FOIA requests to the Office of the Secretary.
- May 14: Deposition of Clarence Finney, the deputy director of the Executive Secretariat staff who was the principal advisor and records management expert in the Office of the Secretary responsible for control of all correspondence and records for Hillary Clinton and other State Department officials.
- June 11: 30(b)(6) Deposition, which will be designated by the State Department.
- June 13: Deposition of Heather Samuelson, the former State Department senior advisor who helped facilitate the State Department’s receipt and release of Hillary Clinton’s emails.
To Be Determined
- As yet to be determined is the deposition date for Assistant Secretary for Diplomatic Security Eric Boswell, who wrote a March 2, 2009, internal memorandum titled “Use of Blackberries on Mahogany Row,” in which he strongly advised that the devices not be allowed.
Written questions under oath are to be answered by:
- Monica Hanley, Hillary Clinton’s former confidential assistant at the State Department.
- Lauren Jiloty, Clinton’s former special assistant.
- E.W. Priestap, who is serving as assistant director of the FBI’s counterintelligence division and helped oversee both the Clinton email and the 2016 presidential campaign investigations. Priestap testified in a separate lawsuit that Clinton was the subject of a grand jury investigation related to her BlackBerry email accounts.
- Susan Rice, President Obama’s former UN ambassador who appeared on Sunday television news shows following the Benghazi attacks, blaming a “hateful video.” Rice was also Obama’s national security advisor involved in the “unmasking” the identities of senior Trump officials caught up in the surveillance of foreign targets.
- Ben Rhodes, an Obama-era White House deputy strategic communications adviser who attempted to orchestrate a campaign to “reinforce” Obama and to portray the Benghazi consulate terrorist attack as being “rooted in an Internet video, and not a failure of policy.”
Premier Li Keqiang at the close of the annual National People’s Congress session in Beijing:
- The economy is facing new downward pressure but China won’t resort to using quantitative easing or massive deficit spending because such approaches could cause problems in the future
- Li said China has policies in hand, such as reserve-requirement ratio
- China will cut VAT on April 1 and reduce social security fees May 1; Li said cuts will benefit the real economy, increase jobs
- The central government will ask designated financial institutions and central SOEs to hand in a larger share of profits to fund government spending…
Premier Li Keqiang likens the fiscal hit from the tax cuts to “turning the blade of the knife into the government itself” and highlights their “exceptional courage and determination” https://bloom.bg/2TRQzqk
People’s Daily, China @PDChina: China has cut company taxes and fees by an average of 1T yuan a year and will widen the scale of tax and fee cuts in future. Reduction of VAT and social insurance will take effect on Apr 1 and May 1, respectively, to bring a dividend of almost 2B yuan to businesses: Premier Li
CNBC’s Beijing Bureau Chief @onlyyoontv: China Premier says to fulfill promise to open economy to foreign investors. 1) use foreign investment law to protect rights of foreign companies 2) roll out new negatives list 3) considering revising IP rights protection law
China’s Premier on U.S.-China ties and trade talks: 1) hopes common interests will outweigh differences on relations 2) hopes outcome of talks will be good and deliver benefits to both sides 3) says not realistic to decouple U.S., China economies.
“Let me tell you explicitly that this is not consistent with Chinese law. This is not how China behaves. We did not do that and will not do that in the future.” – China Premier when asked if Beijing would ask its companies to spy on other countries [How many lies can you find in the above statements?]
China, U.S. make further substantive progress on trade talks: Xinhua https://reut.rs/2F2FMQI
BOJ keeps stance, expansion goes on despite slowdown
The NY Fed’s Q1 GDP estimate dropped a tad to 1.37%.
https://www.newyorkfed.org/research/policy/nowcast.html
U of Michigan Consumer Sentiment for March increased to 97.8 from 93.8. 95.6 was expected. Current Conditions rose to 111.2 from 108.5; 112 was expected. Expectations jumped to 89.2 from 84.4. 88.1 was consensus. [A soaring stock market strongly correlates with rising consumer sentiment.]
@trevorsumner: Some people are calling the 737MAX tragedies a software failure. Here’s my response: It’s not a software problem.It was an * Economic problemthat the 737 engines used too much fuel, so they decided to install more efficient engines with bigger fans and make the 737MAX. This led to an
* Airframe problem. They wanted to use the 737 airframe for economic reasons, but needed more ground clearance with bigger engines. The 737 design can’t be practically modified to have taller main landing gear. The solution was to mount them higher & more forward…
This led to an * Aerodynamic problem… Nowhere in here is there a software problem. The computers & software performed their jobs according to spec without error. The specification was just shitty. Now the quickest way for Boeing to solve this mess is to call up the software guys to come up with another band-aid. I’m a software engineer, and we’re sometimes called on to fix the deficiencies of mechanical or aero or electrical engineering, because the metal has already been cut or the molds have already been made or the chip has already been fabed, and so that problem can’t be solved…
https://twitter.com/trevorsumner/status/1106934429514125321
WSJ: U.S. Transportation Dept. Probes FAA’s Boeing 737 Max Approval
@realDonaldTrump: Just spoke to Mary Barra, CEO of General Motors about the Lordstown Ohio plant. I am not happy that it is closed when everything else in our Country is BOOMING. I asked her to sell it or do something quickly. She blamed the UAW Union — I don’t care, I just want it open!
Democrat UAW Local 1112 President David Green ought to get his act together and produce. G.M. let our Country down, but other much better car companies are coming into the U.S. in droves. I want action on Lordstown fast. Stop complaining and get the job done! 3.8% Unemployment!
Turns out that ex-MI6 spy, Chris Steele, was more Austin Powers than traditional MI6 operatives.
Former British spy Christopher Steele confessed that he used an unverified report submitted to a CNN website, where “random individuals” can post information, for his salacious anti-Trump dossier.
Steele made the awkward revelation during a deposition last year in a case involving Russian entrepreneur Aleksej Gubarev, who claims his companies Webzilla and XBT Holdings were defamed by Steele after the dossier was published by BuzzFeed…
“We did. It was an article I have got here which was posted on July 28, 2009, on something called CNN iReport,” Steele said… “Do you understand that CNN iReports are or were nothing more than any random individuals’ assertions on the Internet?” an examiner asked Steele. He replied: “No, I obviously presume that if it is on a CNN site that it may has [sic] some kind of CNN status. Albeit that it may be an independent person posting on the site.”…
@realDonaldTrump: “New evidence that the Obama era team of the FBI, DOJ & CIA were working together to Spy on (and take out) President Trump, all the way back in 2015.” A transcript of Peter Strzok’s testimony is devastating. Hopefully the Mueller Report will be covering this. So, if there was knowingly & acknowledged to be “zero” crime when the Special Counsel was appointed, and if the appointment was made based on the Fake Dossier (paid for by Crooked Hillary) and now disgraced Andrew McCabe (he & all stated no crime), then the Special Counsel should never have been appointed and there should be no Mueller Report. This was an illegal & conflicted investigation in search of a crime. Russian Collusion was nothing more than an excuse by the Democrats for losing an Election that they thought they were going to win…..
@MarkSimoneNY: Sunday Shows and all the fake news Chuck Todd types acting stunned and asking how President Trump could attack John McCain. These are the same anchors that spent the entire 2008 presidential campaign calling McCain a racist and a crook and dumb.
Reuters Admits They Sat on Beto Bombshell Story for 2 YEARS
On Friday, Reuters broke the story that Beto O’Rourke belonged to a cult hacking group called “Cult of the Dead Cow” and the report also covered some other disturbing writings from the Democratic candidate. The reporter who unveiled this bizarre story actually obtained this information almost two years ago but decided not to release the information until after the Senate race between Beto and Senator Ted Cruz was over… https://ilovemyfreedom.org/new-media-darling-reuters-admits-they-sat-on-beto-bombshell-story-for-2-years/
Despite the MSM uber hype for Beto, they think he’s a Bobby Kennedy; he’s at 5% to 6% in the poll
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