FEB 4//VICIOUS RAID ON GOLD AND SILVER: STARTED LAST NIGHT//GOLD DOWN $42.05 TO $1791.70//SILVER DOWN 54 CENTS TO $26.25//GOLD TONNAGE STANDING; DOWN TO 99 TONNES AS NO GOLD TO BE FOUND HERE//SILVER OZ STANDING RISES ABOVE 10 MILLION OZ//RONAN MANLY OUTLINES HOW SILVER “ENTERS” THE SLV //CORONAVIRUS UPDATE/VACCINE UPDATES//BANK OF ENGLAND READY FOR NEGATIVE INTEREST RATES///USA BUDGET FOR NEXT 10 YEARS FORMULATED: DEFICIT THIS YEAR: 4 TRILLION DOLLARS//MORE USA ECONOMIC STORIES//NOW SMARTMATIC VOTING SOFTWARE COMPANY SUES FOX AND ITS EMPLOYEES FOR 2.7 BILLION DOLLARS/SWAMP STORIES FOR YOU TONIGHT//

GOLD:$1791.70 DOWN  $42.05   The quote is London spot price

Silver:$26.25. DOWN  $0.54   London spot price ( cash market)

your data…

Closing access prices:  London spot

i)Gold : $1794.00  LONDON SPOT  4:30 pm

ii)SILVER:  $26.33//LONDON SPOT  4:30 pm

Dave from Denver… trading in gold today!

Editorial of The New York Sun | February 1, 2021

end

DONATE

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation.

COMEX DATA

JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)

receiving today: 673/1816

issued  50

EXCHANGE: COMEX
CONTRACT: FEBRUARY 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,832.200000000 USD
INTENT DATE: 02/03/2021 DELIVERY DATE: 02/05/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 C GOLDMAN 333 14
104 C MIZUHO 1429
323 H HSBC 3
332 H STANDARD CHARTE 102
435 H SCOTIA CAPITAL 9
555 H BNP PARIBAS SEC 12
624 H BOFA SECURITIES 298
657 C MORGAN STANLEY 302
661 C JP MORGAN 50 377
661 H JP MORGAN 336
686 C STONEX FINANCIA 40
690 C ABN AMRO 1 8
709 C BARCLAYS 31
709 H BARCLAYS 223
800 C MAREX SPEC 3 2
880 C CITIGROUP 52
905 C ADM 7
____________________________________________________________________________________________

TOTAL: 1,816 1,816
MONTH TO DATE: 22,491

GOLDMAN SACHS STOPPED 14 CONTRACTS.

NUMBER OF NOTICES FILED TODAY FOR  FEB. CONTRACT: 660 NOTICE(S) FOR 1816,000 OZ  (5.648 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  22,491 NOTICES FOR 2,249,100 OZ  (69.956 tonnes) 

SILVER//FEB CONTRACT

120 NOTICE(S) FILED TODAY FOR 600,000  OZ/

total number of notices filed so far this month: 1512 for 7,560,000  oz

BITCOIN MORNING QUOTE  $37,491   UP 559

BITCOIN AFTERNOON QUOTE.:$37,426  UP 491 DOLLARS .

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

WITH GOLD DOWN $42.05  AND NO PHYSICAL TO BE FOUND ANYWHERE:

WITH ALL REFINER CLOSED//MEXICO ORDERING ALL MINES SHUT:   WHERE ARE THEY GETTING THE “PHYSICAL?

STRANGE!!

A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 2.34 TONNES INTO THE GLD//

GLD: 1,259.84 TONNES OF GOLD//

WITH SILVER DOWN $0.54 TODAY: AND WITH NO SILVER AROUND

A “WITHDRAWAL”  10.079 million oz from the SLV at 5 pm!!

INVENTORY RESTS AT:

SLV: 659.278  MILLION OZ./

XXXXXXXXXXXXXXXXXXXXXXXXX

Let us have a look at the data for today

THE COMEX OI IN SILVER FELL BY A STRONG SIZED 2364 CONTRACTS FROM 179,789 DOWN TO 177,422, AND FURTHER FROM OUR NEW RECORD OF 244,710, (FEB 25/2020. THE LOSS IN OI OCCURRED DESPITE OUR STRONG $0.38 GAIN IN SILVER PRICINGAT THE COMEX. IT SEEMS THAT THE LOSS IN COMEX OI IS  DUE TO CONSIDERABLE BANKER AND ALGO  SHORT COVERING..  COUPLED AGAINST A STRONG EXCHANGE FOR PHYSICAL ISSUANCE. WE ALSO HAD SMALL LONG LIQUIDATION, AND A HUGE GAIN IN STANDING FOR SILVER OUNCES STANDING AT THE COMEX FOR FEB.  WE HAD A SMALL NET LOSS IN OUR TWO EXCHANGES OF 829 CONTRACTS  (SEE CALCULATIONS BELOW).

WE WERE  NOTIFIED  THAT WE HAD A HUGE  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  1535,, AS WE HAD THE FOLLOWING ISSUANCE:  MARCH  1446 JULY: 89 AND ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE 1535 CONTRACTS. THE BANKERS ARE NOW BEING BITTEN BY THOSE SERIAL FORWARDS (EFP’S CIRCULATING IN LONDON)AS THEY ARE NOW BEING EXERCISED AND COMING BACK TO NEW YORK FOR REDEMPTION OF METAL.  THE COST TO SERVICE THESE SERIAL FORWARDS IS HIGH TO OUR BANKERS  BUT THEY HAVE NO CHOICE BUT TO ISSUE A FEW OF THEM!

HISTORY OF SILVER OZ STANDING AT THE COMEX FOR THE PAST 26 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.:

27.120 MILLION OZ STANDING IN MARCH.

3.875 MILLION OZ STANDING FOR SILVER IN APRIL.

18.845 MILLION OZ STANDING FOR SILVER IN MAY.

2.660 MILLION OZ STANDING FOR SILVER IN JUNE//

22.605 MILLION OZ  STANDING FOR JULY

10.025   MILLION OZ INITIAL STANDING IN AUGUST.

43.030   MILLION OZ INITIALLY STANDING IN SEPT. (HUGE)

7.32     MILLION OZ INITIALLY STANDING IN OCT

2.630     MILLION OZ STANDING FOR NOV.

20.970   MILLION OZ  FINAL STANDING IN DEC

5.075     MILLION OZ FINAL STANDING IN JAN

1.480    MILLION OZ FINAL STANDING IN FEB

23.005  MILLION OZ FINAL STANDING FOR MAR

4.660  MILLION OZ FINAL STANDING FOR APRIL

45.220 MILLION OZ FINAL STANDING FOR MAY

2.205  MILLION OF FINAL STANDING FOR JUNE

86.470 MILLION OZ FINAL STANDING IN JULY.

6.475 MILLION OZ FINAL STANDING IN AUGUST

55.400 MILLION OZ FINAL STANDING IN SEPT

8.900 MILLION OZ INITIALLY STANDING IN OCT.

3.950 MILLION OZ FINAL STANDING IN NOV.

46.685 MILLION OZ FINAL STANDING FOR DEC.

6.890 MILLION FINAL STANDING FOR JAN 2021

10.110  MILLION OZ INTITAL STANDING FOR FEB 2021

WEDNESDAY, AGAIN OUR CROOKS USED COPIOUS PAPER IN ORDER TO LIQUIDATE SILVER’S PRICE…AND THEY WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE $0.38) ).. AND, OUR OFFICIAL SECTOR/BANKERS WERE SOMEWHAT  SUCCESSFUL IN THEIR ATTEMPT TO FLEECE  SOME SILVER LONGS AS WE HAD A SMALL LOSS IN OUR TWO EXCHANGES (829 CONTRACTS). NO DOUBT THE TOTAL LOSS IN OI IN OUR TWO EXCHANGES WERE DUE TO i)BANKER/ALGO SHORT COVERING.  WE ALSO HAD  ii)  A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A HUGE INCREASE STANDING IN SILVER OZ  STANDING  FOR FEB, iii) STRONG COMEX LOSS AND iv) SOME LONG LIQUIDATION. YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..

WE ARE BEGINNING TO WITNESS A LACK OF EXCHANGE FOR GOLD PHYSICALS UNDERWRITTEN DUE TO PREMIUMS STARTING TO REAPPEAR IN THE FUTURE PRICE OF GOLD VS LONDON SPOT. THE COST TO THE BANKERS IS JUST TOO GREAT TO ENGAGE IN THESE VEHICLES ONCE THIS OCCURS.

We have now switched to SILVER for our spreaders!!

FOR DETAILS ON THE SPREADING EXERCISE HERE IS A BRIEF OUTLINE:

SPREADING OPERATIONS/NOW SWITCHING TO SILVER  (WE SWITCH OVER TO GOLD ON NOV  1)

SPREADING OPERATION FOR OUR NEWCOMERS:

FOR NEWCOMERS, HERE ARE THE DETAILS:

SPREADING LIQUIDATION HAS NOW COMMENCED IN SILVER  AS WE HEAD TOWARDS THE  NEW ACTIVE FRONT MONTH OF MAR.

FOR THOSE OF YOU WHO ARE NEW, HERE IS THE MODUS OPERANDI OF THE SPREADERS AND THE CRIMINAL ELEMENT BEHIND IT:

 HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR;

THE SPREADING LIQUIDATION OPERATION IS NOW OVER FOR GOLD..AND WE WILL NOW MORPH INTO AN ACCUMULATION PHASE OF SPREADING CONTRACTS FOR GOLD.  THEY WILL ACCUMULATE CONSIDERABLE AMOUNT OF THE CONTRACTS AND THEN LIQUIDATE ONE WEEK PRIOR TO FIRST DAY NOTICE

MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:

.

AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES:

“AS YOU WILL SEE, THE CROOKS WILL NOW SWITCH TO SILVER AS THEY INCREASE THE OPEN INTEREST FOR THE SPREADERS. THE TOTAL COMEX GOLD OPEN INTEREST WILL RISE FROM NOW ON UNTIL ONE WEEK PRIOR TO FIRST DAY NOTICE AND THAT IS WHEN THEY START THEIR CRIMINAL LIQUIDATION.

HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON  ACTIVE DELIVERY MONTH OF FEB. HEADING TOWARDS THE  ACTIVE DELIVERY MONTH OF MAR FOR SILVER:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE IN THIS NON ACTIVE MONTH OF FEB. BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN SILVER WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (MAR), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY.  THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END  OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS

FEB

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY /FOR MONTH OF FEB:

25,884 CONTRACTS (FOR 4 TRADING DAY(S) TOTAL 25,884 CONTRACTS) OR 129.420 MILLION OZ: (AVERAGE PER DAY: 6471 CONTRACTS OR 32.355 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF FEB: 129.420 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON.

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF FEB: 129.420. MILLION PAPER OZ HAVE MORPHED OVER TO LONDON.

JAN EFP ACCUMULATION FINAL:  113.735 MILLION OZ

FEB EFP ACCUMULATION FOR FAR:   129.420 MILLION OZ (RAPIDLY INCREASING AGAIN)

RESULT: WE HAD A STRONG SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1869, DESPITE OUR  $0.38 RISE IN SILVER PRICING AT THE COMEX ///WEDNESDAY.…THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1535 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE LOST AN SMALL SIZED 334 OI CONTRACTS ON THE TWO EXCHANGES (DESPITE OUR $0.38 RISE IN PRICE)//

THE TALLY//EXCHANGE FOR PHYSICALS

i.e 1535 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH A STRONG SIZED DECREASE OF 1869 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH OUR $0.38 FALL IN PRICE OF SILVER/AND A CLOSING PRICE OF $26.79 // WEDNESDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

FOR THE NEW FEB.  DELIVERY MONTH/ THEY FILED AT THE COMEX: 120 NOTICE(S) FOR 600,000 OZ OF SILVER.

IN SILVER,PRIOR TO TODAY, WE  SET THE NEW COMEX RECORD OF OPEN INTEREST AT 244,196 CONTRACTS ON AUG 22.2018. AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $14.70//TODAY’S RECORD OF 244,705 WAS SET WITH A PRICE OF: 18.91 (FEB 25/2020)

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)

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL 2924 CONTRACTS TO 517,087 AND FURTHER FROM  OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE SMALL SIZED FALL IN COMEX OI OCCURRED WITH OUR TINY LOSS IN PRICE  OF $0.20 /// COMEX GOLD TRADING// WEDNESDAY. WE PROBABLY HAD SOME BANKER/ALGO SHORT COVERING  ACCOMPANYING OUR SMALL EXCHANGE FOR  PHYSICAL ISSUANCE. WE  HAD SOME LONG LIQUIDATION. WE LOST A STRONG AMOUNT OF GOLD OZ. STANDING   AT THE COMEX TO 99.069 TONNES FOR FEBRUARY..AS WE HAVE A LACK OF PHYSICAL GOLD OVER HERE!...THIS ALL HAPPENED WITH OUR  FALL IN PRICE OF $0.20. 

WE HAD A VOLUME OF 0    4 -GC CONTRACTS//OPEN INTEREST  5//

WE HAD A SMALL LOSS  OF 1012 CONTRACTS  (3.147 TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A SMALL SIZED 1912 CONTRACTS:

CONTRACT . FEB:0,  APRIL:  1912  ALL OTHER MONTHS ZERO//TOTAL: 1912.  The NEW COMEX OI for the gold complex rests at 517,087. 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 EXCHANGE 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 SMALL SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1012 CONTRACTS: 2924 CONTRACTS DECREASED AT THE COMEX AND 1912 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS OF 1012 CONTRACTS OR 3.147 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES:

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1912) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI  (2924 OI): TOTAL LOSS IN THE TWO EXCHANGES:  1012 CONTRACTS. WE NO DOUBT HAD 1 ) CONSIDERABLE BANKER SHORT COVERING AND CONSIDERABLE ALGO SHORT COVERING ,2.)STRONG DECREASE STANDING //  AT THE GOLD COMEX FOR THE FRONT FEB. MONTH RISING TO 99.069 TONNES3) SOMELONG LIQUIDATION// ;4) SMALL COMEX OI LOSS  AND 5) SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL  ...ALL OF THIS WAS COUPLED WITH OUR TINY LOSS IN GOLD PRICE TRADING//WEDNESDAY//$0.20.

WE ARE BEGINNING TO WITNESS A LACK OF EXCHANGE FOR GOLD PHYSICALS UNDERWRITTEN DUE TO PREMIUMS STARTING TO REAPPEAR IN THE FUTURE PRICE OF GOLD VS LONDON SPOT. THE COST TO THE BANKERS IS JUST TOO GREAT TO ENGAGE IN THESE VEHICLES ONCE THIS OCCURS.

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2020 INCLUDING TODAY

FEB

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEB : 16,068, CONTRACTS OR 1,606,800 oz OR 49.97 TONNES (4 TRADING DAY(S) AND THUS AVERAGING: 4017 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 4 TRADING DAY(S) IN  TONNES: 49.97 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2019, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 49.97/3550 x 100% TONNES =1.40% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO DATE:
JANUARY: 265.26 TONNES (RAPIDLY INCREASING AGAIN)
FEB  :  49.97 TONNES SO FAR

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE

First, here is an outline of what will be discussed tonight:

1.Today, we had the open interest at the comex, in SILVER, FELL BY A STRONG SIZED 2364 CONTRACTS FROM 179,789 DOWN TO 177,422 AND FURTHER FROM OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  2 3/4 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.

THE STRONG SIZED LOSS IN OI SILVER COMEX WAS PRIMARILY DUE TO 1) SOME BANKER SHORT COVERING//ALGO SHORT COVERING , 2) A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS (SEE BELOW), 3) A HUMONGOUS INCREASE  STANDING  FOR SILVER  AT THE COMEX FOR FEB., AND 4) SOME LONG LIQUIDATION 

EFP ISSUANCE 1535 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

 MARCH:  1446 ; JULY: 89 AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1535 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 2364 CONTRACTS TO THE 1535 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A SMALL SIZED LOSS OF 829 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 4.145 MILLION  OZ, OCCURRED WITH OUR $0.38 GAIN IN PRICE///

BOTH THE SILVER COMEX AND THE GOLD COMEX ARE IN STRESS AS THE BANKERS SCOUR THE BOWELS OF THE EXCHANGE FOR METAL..THE EVIDENCE IS CLEAR: HUGE AMOUNTS OF PHYSICAL STANDING FOR BOTH  SILVER AND GOLD .

(report Harvey)

2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS

i)THURSDAY MORNING/ WEDNESDAY NIGHT: 

SHANGHAI CLOSED DOWN 15.45 PTS OR .44%   //Hang Sang CLOSED DOWN 304.55 PTS OR 1.06%    /The Nikkei closed DOWN 193.96 POINTS OR 0.66%//Australia’s all ordinaires CLOSED UP 0.75%

/Chinese yuan (ONSHORE) closed DOWN AT 6.4654 /Oil UP TO 56.10 dollars per barrel for WTI and 58.81 for Brent. Stocks in Europe OPENED ALL GREENE EXCEPT LONDON//  ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.4654. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4704 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY BY A SMALL 2924 CONTRACTS TO 517,087 MOVING FURTHER FROM THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS SMALL COMEX DECREASE OCCURRED WITH OUR SLIGHT FALL OF $0.20 IN GOLD PRICING /WEDNESDAY’S COMEX TRADING/)… WE ALSO HAD A SMALL EFP ISSUANCE (1912 CONTRACTS).   WE  ALSO PROBABLY HAD  1)  CONSIDERABLE BANKER SHORT COVERING,  2)   SOME  LONG LIQUIDATION,  AND 3)  LARGE DECREASE STANDING AT THE GOLD  COMEX//FEB. DELIVERY MONTH(99.062 TONNES) (SEE BELOW) …  AS WE ENGINEERED A VERY SMALL SIZED LOSS ON OUR TWO EXCHANGES OF 1012 CONTRACTS. WE HAVE LATELY WITNESSED THE EXCHANGE FOR PHYSICALS ISSUED BEING SMALL….. AS IT JUST TOO COSTLY FOR THEM TO CONTINUE SERVICING THE COSTS OF SERIAL FORWARDS CIRCULATING IN LONDON. HOWEVER, MUCH TO THE ANNOYANCE OF OUR BANKERS, THE COMEX IS THE SCENE OF AN ASSAULT ON GOLD AS LONDONERS, NOT BEING ABLE TO FIND ANY PHYSICAL ON THAT SIDE OF THE POND, EXERCISE THESE CIRCULATING EXCHANGE FOR PHYSICALS IN LONDON AND FORCING DELIVERY OF REAL METAL OVER HERE AS THE OBLIGATION STILL RESTS WITH NEW YORK BANKERS.

(SEE BELOW)

WE  HAD 0    4 -GC VOLUME//open interest REMAINS AT 5

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE NON  ACTIVE DELIVERY MONTH OF JAN..  THE CME REPORTS THAT THE BANKERS ISSUED A SMALL SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 1912 EFP CONTRACTS WERE ISSUED:  ; FEB// ’21  0 AND APRIL:  1912 ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 1912  CONTRACTS.

YOU WILL FIND THAT WHEN WE HAVE A GOOD PREMIUM IN THE FUTURES/SPOT, THEN THE NUMBER OF EXCHANGE FOR PHYSICALS DECLINE IN NUMBERS.  THE COST IS JUST TOO MUCH FOR THEM TO ISSUE. TODAY THAT PREMIUM WAS SMALL AND THUS A LITTLE MORE THAN USUAL OF EXCHANGE FOR PHYSICALS WERE ISSUED.

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A SMALL 1012 TOTAL CONTRACTS  IN THAT 1912 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A SMALL SIZED  COMEX OI  OF 2924.  WE HAVE A HUGE AMOUNT OF GOLD STANDING FOR FEB (99.069 TONNES) FOLLOWING OUR STRONG LEVEL OF JAN 2021 GOLD CONTRACTS STANDING FOR DELIVERY. ((6.500 TONNES).  IF YOU INCLUDE  NOVEMBER’S HUGE 34.7 TONNES, AND DEC. 93.589 OUR COMEX IS OFFICIALLY UNDER ASSAULT.

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $0.20)., AND WERE SOMEWHAT  SUCCESSFUL IN FLEECING SOME LONGS  AS THE TOTAL LOSS ON THE TWO EXCHANGES REGISTERED 1.741 TONNES, ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR FEB (99.069 TONNES)..

NET LOSS ON THE TWO EXCHANGES :: 577 CONTRACTS OR  57700 OZ OR  1.794  TONNES

COMMODITY LAW SUGGESTS THAT COMMODITY FUTURES OPEN INTEREST SHOULD APPROXIMATE 3% OF TOTAL PRODUCTION.  IN GOLD THE WORLD PRODUCES AROUND 3500 TONNES PER YEAR BUT ONLY 2200 TONNES ARE AVAILABLE FROM THE WEST (THUS EXCLUDING RUSSIA, CHINA ETC..WHO KEEP 100% OF THEIR PRODUCTION)

THUS IN GOLD WE HAVE THE FOLLOWING:  517,087 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 51.70 MILLION OZ/32,150 OZ PER TONNE =  1608 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1608/2200 OR 73.09% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

Trading Volumes on the COMEX TODAY:272,268 contracts// volume FAIR/RAID

CONFIRMED COMEX VOL. FOR YESTERDAY:  148,768 contracts//  volume: poor //most of our traders have left for London

FEB 4 /2021

INITIAL STANDINGS FOR FEB COMEX GOLD
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
3098.83 OZ
HSBC
Scotia
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
nil
Oz
No of oz served (contracts) today
1816 notice(s)
181,600 OZ
(5.648 TONNES
No of oz to be served (notices)
9360 contracts
936,000 oz)
29.11 TONNES
Total monthly oz gold served (contracts) so far this month
22,491 notices
2,249,100 OZ
69.956 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz

Withdrawals from Dealers Inventory NIL oz

We had 0 deposits into the dealer

total deposit:    oz

total dealer withdrawals: nil oz

we had  0 deposits into the customer account

we had  2 gold withdrawals from the customer account:

i) Out of HSBC: 1222.3 oz
ii) Out of Scotia:  1876.55 oz

We had 1  kilobar transactions

ADJUSTMENTS:  dealer to customer Brinks and JPM

(dealer to customer)
Manfra: 14,371.497 oz

JPMorgan: 5112.009 oz (159 kilobars)

adj: customer to dealer:

brinks:  32,118.849 oz

The front month of FEB registered a total of 11,176 CONTRACTS FOR A LOSS OF 967 CONTRACTS.  WE

HAD 660 CONTRACTS FILED ON WEDNESDAY SO WE LOST A LARGE 307 CONTRACTS OR 30,700 OZ MORPHED INTO LONDON BASED FORWARDS AND RECEIVED A FIAT BONUS FOR THEIR EFFORTS. I GUESS THERE IS NO GOLD TO BE FOUND OVER HERE AND THUS THE SEARCH FOR GOLD INTENSIFIES OVER IN LONDON.

MARCH LOST 48 contracts to stand at 2498

APRIL LOST 2632 contracts to stand at 402,429

We had 1816 notice(s) filed today for 181,600 oz

FOR THE FEB 2020 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and  50 notices were issued from their client or customer account. The total of all issuance by all participants equates to 1816  contract(s) of which 336  notices were stopped (received) by j.P. Morgan dealer and 377 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 14 notices received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the FEB /2021. contract month, we take the total number of notices filed so far for the month (22,491) x 100 oz , to which we add the difference between the open interest for the front month of  (FEB 11,176 CONTRACTS ) minus the number of notices served upon today (1816 x 100 oz per contract) equals 3,185,100 OZ OR 99.069 TONNESthe number of ounces standing in this  active month of FEB

thus the INITIAL standings for gold for the FEB/2021 contract month:

No of notices filed so far (22,491 x 100 oz  PLUS 11,176 OI) for the front month minus the number of notices served upon today (1816} x 100 oz which equals 3,185,100 oz standing OR 99.069 TONNES in this active delivery month of FEBRUARY. This is a HUGE amount  standing for GOLD IN  FEB

WE LOST A LARGE 307 CONTRACTS OR 30,700 OZ MORPHED INTO LONDON BASED FORWARS TRYING THEIR LUCK TO FIND METAL ON THAT SIDE OF THE POND.  

NEW PLEDGED GOLD:  

461,317.475 oz NOW PLEDGED  SEPT 15.2020/HSBC  14.34 TONNES

84,274.333 PLEDGED  APRIL 3/2020: SCOTIA:2.148 TONNES

290,795.495 oz  JPM  9.04 TONNES

1,014,918.830 oz pledged June 12/2020 Brinks/30.198 TONNES

94,500.934 oz Pledged August 21/regular account 2.93 tonnes JPMORGAN

180,158,329 oz Pledged Nov 27.2021 MANFRA  5.60 TONNES

6,308.08 oz International Delaware:  .196 tonnes

192.06 oz Malca

168,811.741 Manfra

total pledged gold:  2,121,119.74 oz                                     65.97 tonnes

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 536.15 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 99.069 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

total registered or dealer  19,358,624.309 oz or 602.13 tonnes
total weight of pledged:  2,121,119.74 oz or 66.32 tonnes
thus:
registered gold that can be used to settle upon: 17,237,505.0  (536,15 tonnes)
true registered gold  (total registered – pledged tonnes  17,237,505.0 (536.15 tonnes)
total eligible gold: 19,767,473.675 , oz (614.85 tonnes)

total registered, pledged  and eligible (customer) gold  39,126,097.984 oz 1,216.98 tonnes (INCLUDES 4 GC GOLD)

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  1090.64 tonnes

end

I have compiled  data with respect to registered (or dealer) gold taken on first day notice for each of the past 24 months

The data begins on first day notice for the May month taken on the last day of July 2018. and it continues to present day.

I then took, how many deliveries were recorded by the CME for each and every month.  I also included for reference the price of gold on first day notice.

The first graph is a logarithmic  graph and the second graph, linear.

You can see the huge explosion of registered gold at the comex along with deliveries.

THE DATA AND GRAPHS:
END

FEB 4/2021

And now for the wild silver comex results

And now for the wild silver comex results

INITIAL STANDING FOR SILVER/FEB

FEB. SILVER COMEX CONTRACT MONTH//INITIAL STANDING

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
937,028.007 oz
CNT
DELARWARE
HSBC
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
120
CONTRACT(S)
(600,000 OZ)
No of oz to be served (notices)
510 contracts
 2,550,000 oz)
Total monthly oz silver served (contracts)  1512 contracts

7,560,000 oz)

Total accumulative withdrawal of silver from the Dealers inventory this month NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month
We had 0 deposits into the dealer:

total dealer deposits: nil        oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had 0 deposit into the customer account (ELIGIBLE ACCOUNT)

JPMorgan now has 193.906 million oz of  total silver inventory or 48.61% of all official comex silver. (193.906 million/398.840 million

total customer deposits today: nil    oz

we had 3 withdrawals:

i) out of CNT:
656,606.160 oz
ii0 Out of Delaware:
30,301.147
iii) Out of HSBC:
28,120.700

total withdrawals 937,028.007  oz

We had 1 adjustments:

Customer account to dealer: Loomis:  1,879,883.490

Total dealer(registered) silver: 152.049million oz

total registered and eligible silver:  398.840 million oz

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

FEBRUARY saw a GAIN of 96 contracts to stand at 630. We had 20 notices filed on WEDNESDAY. So we gained 116 contracts or an additional 580-,000 oz will stand for delivery on this side of the pond. 

MARCH LOST 3706 contracts DOWN to 121,069.April gained another 14 contracts to stand at 183

The total number of notices filed today for FEB 2021. contract month is represented by 120 contract(s) FOR 600,000 oz

To calculate the number of silver ounces that will stand for delivery in FEB we take the total number of notices filed for the month so far at  1512 x 5,000 oz = 7,560,000 oz to which we add the difference between the open interest for the front month of FEB (630) and the number of notices served upon today 120 x (5000 oz) equals the number of ounces standing.

Thus the FEB standings for silver for the FEB/2021 contract month: 1512 (notices served so far) x 5000 oz + OI for front month of FEB(630)- number of notices served upon today (120) x 5000 oz of silver standing for the Jan contract month .equals 10,110,000 oz. ..VERY STRONG FOR A NON ACTIVE  FEB MONTH.

We gained 116 contracts or an additional 580,000 oz will stand for delivery over here.

TODAY’S ESTIMATED SILVER VOLUME :107,796 CONTRACTS // volume high/

FOR YESTERDAY  108,683  ,CONFIRMED VOLUME//high 

COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42. The previous record was 224,540 contracts with the price at that time of $20.44

end

NPV for Sprott

1. Sprott silver fund (PSLV): NAV  RISES TO+ 0.98% ((FEB 4/2021)

2. Sprott gold fund (PHYS): premium to NAV  FALLS TO -1.13% to NAV:   (FEB 4/2021 )

Note: Sprott silver trust back into NEGATIVE territory at +%-/Sprott physical gold trust is back into POSITIVE/0.98%(FEB 3/2021)

(courtesy Sprott/GATA

3. SPROTT CEF .A   FUND (FORMERLY CENTRAL FUND OF CANADA):

NAV 19.23 TRADING 18.62///NEGATIVE 3.16

END

And now the Gold inventory at the GLD/

FEB 4/WITH GOLD DOWN $42.05 TODAY: STRANGE: HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.34 TONNES ADDED INTO THE GLD///INVENTORY ESTS AT 1159.84 TONNES

FEB 3/WITH GOLD DOWN 20 CENTS TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1157.50 TONNES

FEB 2/WITH GOLD DOWN $27.60 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD// A WITHDRAWAL OF 2.63 TONNES FROM THE GLD//.INVENTORY RESTS AT 1157.50 TONNES

FEB 1/WITH GOLD UP $12.45 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.5 TONNES FROM THE GLD///INVENTORY RESTS AT 1160.13 TONNES

JAN 29/WITH GOLD UP $9.65 TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL  OF 4.37 TONNES FROM THE GLD//INVENTORY RESTS AT 1164.80 TONNES

JAN 28/WITH GOLD DOWN $6.90 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.71 TONNES LEAVES THE GLD////INVENTORY RESTS AT 1169.17 TONNES

JANUARY 27/WITH GOLD DOWN $9.85 TODAY; A SMALL CHANGE IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF .87 TONNES FROM THE GLD///INVENTORY RESTS 1172.38 TONNES

JAN 26/WITH GOLD DOWN $4.15 TODAY:NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1173.25 TONNES

JAN 25.WITH GOLD DOWN 20 CENTS TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1173.25 TONNES

JAN 22/WITH GOLD DOWN (9.50 TODAY:A SMALL CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF .88 TONNES FROM THE GLD//NVENTORY RESTS AT 1173.25 TONNES

JAN 21/WITH GOLD DOWN $0.40 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: ////INVENTORY RESTS AT 1174.13 TONNES

JAN 20/WITH GOLD UP $25.20 TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.5 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 1174.13 TONNES

JAN 19/WITH GOLD UP $10.90 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A MASSIVE DEPOSIT OF 16.63 TONNES INTO GLD////INVENTORY RESTS AT 1177.63 TONNES

JAN 15/WITH GOLD DOWN $22.40 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//: A WITHDRAWAL OF 10.21 TONNES FROM THE GLD///INVENTORY RESTS AT 1161.00 TONNES

JAN 14.WITH GOLD DOWN $2.75 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 10.50 TONNES FROM THE GLD.//INVENTORY RESTS AT 1171.21 TONNES

JAN 13/WITH GOLD UP $11.65 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1181.71 TONNES

JAN 12/WITH GOLD DOWN $6.70  TODAY;A HUGE CHANGES IN GOLD INVENTORY AT THE GLD// A WITHDRAWAL OF .400 TONNES FROM THE GLD..//INVENTORY RESTS AT 1181.71 TONNES

JAN 11/WITH GOLD UP $14.30 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1182.11 TONNES

JAN 8//WITH GOLD DOWN $75.70 : A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.57 TONNES FROM THE GLD//INVENTORY RESTS AT 1182.11 TONNES

JAN 7/WITH GOLD UP $5.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1186.78 TONNES

JAN 6/WITH GOLD DOWN $44.25 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.17 TONNES//INVENTORY RESTS AT 1186.78 TONNES

JAN 5/WITH GOLD UP $10.05 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD:A DEPOSIT OF 17.21 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 1187.95 TONNES

JAN 4/WITH GOLD UP $49.70 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD; A DEPOSIT OF 0.88 TONNES INTO THE GLD/////INVENTORY RESTS AT 1170.74 TONNES

DEC 31/WITH GOLD UP $1.45 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1169.86 TONNES

DEC//30//WITH GOLD UP $13.30 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1169.86 TONNES

DEC.29//WITH GOLD UP $1.65 TODAY: A DEPOSIT OF  2.53 TONNES  CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1169.86 TONNES.

DEC 28WITH GOLD DOWN $3.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1167.53 TONNES

DEC 24/WITH GOLD UP $6.15 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1167.53 TONNES

DEC.23/WITH GOLD UP $7.40 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF 2.33 TONNES FROM THE GLD//INVENTORY RESTS AT 1167.53 TONNES

DEC 22/WITH GOLD DOWN $12.00 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPSOIT OF 2.04 TONNES INTO THE GLD//INVENTORY RESTS AT 1169.86 TONNES

DEC 21/WITH GOLD DOWN $5.60 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1167.82 TONNES

DEC 18/WITH GOLD DOWN 90 CENTS TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD////INVENTORY RESTS AT 1167.82 TONNES

DEC 17 WITH GOLD UP $39.35 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.33 TONNES FROM THE GLD////INVENTORY RESTS AT 1167.82 TONNES

DEC 16/WITH GOLD UP $2.55 TODAY A HUGE  CHANGE IN GOLD INVENTORY AT THE GLD: ANOTHER WITHDRAWAL OF 1.17 TONNES FORM THE GLD..//INVENTORY RESTS AT 1170.15 TONNES

DEC 15/ WITH GOLD UP $23.75 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.67 TONNES FROM THE GLD//INVENTORY RESTS AT 1171.32 TONNES//

DEC 14//WITH GOLD DOWN $10.45 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD:: A WITHDRAWAL OF 3.79 TONNES FROM THE GLD//INVENTORY RESTS AT 1175.99 TONNES

DEC 11/WITH GOLD UP $5.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1179.78 TONNES

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at:

FEB 4 / GLD INVENTORY 1159.84 tonnes

LAST;  993 TRADING DAYS:   +225.11 TONNES HAVE BEEN ADDED THE GLD

LAST 893 TRADING DAYS// +  393.34TONNES HAVE NOW BEEN ADDED INTO  THE GLD INVENTORY

end

Now the SLV Inventory/

FEB 4/WITH SILVER DOWN 0.54 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A PAPER WITHDRAWAL OF 10.079 MILLION OZ FROM THE SLV..//INVENTORY RESTS AT 659.278 MILLION OZ//

FEB 3/WITH SILVER UP 38 CENTS TODAY: A MIND NUMBING: 56.784 MILION OZ “DEPOSIT” INTO THE SLV at 3 pm AND A WITHDRAWAL OF 7.99 MILLION OZ FROM THE SLV AT 5 PM//WITH THESE CHANGES IN SILVER INVENTORY AT THE SLV INVENTORY RESTS AT 669.357 MILLION OZ//

FEB2//WITH SILVER DOWN  $2.81 TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: AN UNBELEIVABLE DEPOSIT OF 18.627 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 620.563 MILLION OZ//

FEB 1/WITH SILVER UP $2.56 TODAY: A FAIRY TALE DEPOSIT OF 34.419 MILLION OZ INTO  SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 601.936 MILLION OZ//

JAN 29/WITH SILVER UP 58 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.366 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 567.517 MILLION OZ//

JAN 28/WITH SILVER UP 44 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.393 MILLION OZ//INVENTORY RESTS AT 571.883 MILLION OZ/

JAN 27/ WITH SILVER DOWN 10CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV.: A XXXWITHDRAWAL OF 3.022 MILLION OZ OF IMAGINARY SILVER// INVENTORY RESTS AT 573.277 MILLION OZ/

JAN 26/WITH SILVER UP 6 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 576.299 MILLION OZ///

JAN 25/WITH SILVER DOWN 5 CENTS A HUGE CHANGE IN SILVER INVENTORY: A DEPOSIT OF 2.044 MILLION XXXXOZ INTO THE SLV// INVENTORY RESTS AT 576.299 MILLION OZ./.

XXXXXXXXXXXXXX
FEB 4/2021

SLV INVENTORY RESTS TONIGHT AT

659.278 MILLION OZ

PHYSICAL GOLD/SILVER STORIES
i) GOLDCORE BLOG/Mark O’Byrne

ii) Important gold commentaries courtesy of GATA/Chris Powell

USA mint still rationing silver coins amid huge demand

Bloomberg/GATA

U.S. Mint still rationing silver coins amid ‘exceptional’ demand

 Section: 

By Yvonne Yue Li
Bloomberg News
via Yahoo News
Tuesday, February 2, 2021

The Reddit-fueled run-up in silver prices might be stalling, but the U.S. Mint said it is still rationing its sales of silver coins because of “continued exceptional market demand” as well as limited supplies and manufacturing capacity.

The Mint is also allocating gold and platinum coin sales to authorized purchasers, it said in a statement today. The policy will be in place “for the foreseeable future.”

.The mint’s silver coin sales jumped 24% to 4.775 million ounces last month, marking the highest for a January since 2017. The Mint’s announcement comes after retail sites were overwhelmed with demand for bars and coins.

Investors on Reddit ignited a buying frenzy that roiled precious-metals markets and squeezed physical supplies. Some dealers said over the weekend that they were unable to process orders until Asian markets opened because of record demand. …

… For the remainder of the report:

https://finance.yahoo.com/news/u-mint-still-rationing-silver-195837473.h…

end

Ronan Manly who first figured out that the Bank of England was leasing gold to the GLD but that gold never left the Bank. Now Manly agrees with me that it JPMorgan, a custodian to the SLV is leasing silver to the SLV but that silver never leaves the vault of JPMorgan. Manly concludes that one would do much better to purchase real metal  (if available) than buy the garbage product , SLV

(Ronan Manly)

Ronan Manly: The silver squeeze vs. Wall Street corruption

 Section: 

10:40a ET Wednesday, February 3, 2021

Dear Friend of GATA and Gold:

Bullion Star’s Ronan Manly today questions the staggering volumes of silver reported to be moving in and out of the exchange-traded fund SLV, notes that JPMorganChase is the custodian of the fund’s metal and is a serial criminal in the financial markets, and wonders if anyone really wants to rely on SLV’s integrity.

Anyone aiming for price appreciation in silver, Manly concludes, would do much better to purchase real metal directly. His analysis is headlined “The Silver Squeeze vs. Wall Street Corruption” and it’s posted at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/the-silver-squeeze-vs-wall…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

end

iii) Other physical stories:

Ridiculous!!

SEC To Crawl Through Social Media, Hunting For Gamestop Manipulation Fraud

WEDNESDAY, FEB 03, 2021 – 16:40

Remember when Harry Markopolos warned  the SEC – repeatedly – that Bernie Madoff was running a giant ponzi scheme… and the SEC did absolutely nothing, eventually leading to the biggest fund fraud in modern history, with countless investors losing billions?

Well, after the recent reddit revolution sent a handful of highly shorted stocks soaring and blew up a couple of hedge funds while making other hedge funds much richer, the SEC has decided that this time it will be proactive in cracking down on fraud and according to Bloomberg SEC investigators are now “combing social media and message board posts for signs that fraud played a role in dizzying stock swings for GameStop Corp., AMC Entertainment Holdings Inc. and other companies.”

According to the report, the scrutiny – which comes following news that a non-recused Janet Yellen will head a task force of financial regulators addressing the recent surge in GameStop and other stocks, as well as silver, and which will inevitably also look at Citadel which paid Janet Yellen 810,000 in non-conflict of interest dollars for a handful of speeches last year – is being done in tandem with a review of trading data to assess whether such posts were part of a manipulative effort to drive up share prices.

The report notes that the SEC is “on the hunt for misinformation meant to improperly tilt the market” although how it can make that determination will be very interesting to watch: after all, the original Reddit post that laid out – in tremendous detail – just how the Gamestop squeeze would work, and which eventually sparked thousands of copycat articles and posts, was published back on September 8, titled “The REAL Greatest Short Burn of the Century” and is still available for anyone to read. There was absolutely nothing manipulative about it, and in fact it laid out the thesis very clearly – spark a huge short squeeze, something which countless funds, management teams and retail investors have tried to do in the past, and occasionally like in the case of Volkswagen, succeeded.

The thesis (of the post which explicitly was prefaced that it “is all for entertainment purposes only”) is simple:

The intro:

Sup gamblers. Feel bad about missing the gain train on TSLA? Fear not – something much greater and stupider is here.

You know Citadel? The MM that took all our money today? Well now we finally won’t be at the mercy of the MMs. Instead, we’re going to temporarily join forces with the Galactic Empire and hijack the death star.

Our choice of weapon… $GME.

The setup:

Huh?? Isn’t GME an absolute piece of trash stock? NO (will explain below), and even if it is, it’s not entirely relevant. The this turn around is going to make TSLA’s short burn look like warm afternoon tea.

Why? Well, most short squeezes are mostly math. This one is special because we have math AND great underlying news.

To be clear, this will happen whether or not we participate. I prefer us idiots to be a part of history. Here’s what’s up:

Short interest:

GME currently has between 85% – 99.8% short interest, depending on what site you use. For context, 20% is already considered high as the moon. TSLA and NFLX were around 30-40% at their peak. But GME’S ACTUAL SHORT INTEREST IS OVER 110%. In case you think I’ve gone nuts, look below:

The author, u/Jeffamazon, was of course correct – as January’s 1650% surge in GME demonstrated – and all he did was apply the same strategy that Porsche management did in late 2008 when it too sparked a historic squeeze in Volkswagen shares.

To the SEC, however, this is not sufficient, as the regulator is skeptical that mere retail investors could come up with something this sophisticated (even though this website has shown year after year since 2013 that going the most shorted stocks was and remains the best strategy for this broken market), and is instead looking into whether sophisticated investors (i.e., hedge funds) manipulated and herded the retail investing horde for their own ulterior benefit, a thesis that was promoted by noted short-seller Carson Block:

The prevailing narrative is that Wall Street short-sellers were caught flatfooted over the past two weeks as retail traders banded together via Reddit message boards and bought up stocks that hedge funds were betting against. But some market participants, including famed short-seller Carson Block, have started to speculate that the short squeezes that drove GameStop, AMC and other stocks to exorbitant heights might have also involved professional investors who either took advantage of the Reddit-fueled frenzy or helped hype it.

While the SEC hasn’t confirmed or denied that Block’s thesis is behind its probe, acting chair Allison Herren Lee said in a statement earlier this week that the agency was looking at “compliance with regulatory obligations, adequate and consistent risk disclosure, and determining if any fraudulent or manipulative behavior has occurred.”

There is also mounting concern about the possibility of bot activity in Reddit’s WallStreetBets chat after a spokesperson for the forum told CBS News that there was a “large amount” of it and that some posts were being blocked by an automated moderation system.

Of course, the real reason for the SEC to eager get involved is because the agency remains as clueless as always about how susceptible stocks are to violent short squeezes in a market that has never been more illiquid, and if nothing else, it wants to demonstrate that it is willing to learn, especially now that vocal and even more clueless politicians such as Elizabeth Warren are involved and the SEC will likely be called in to testify in Congress.

While shares of GameStop have sharply retreated this week, pressure is growing on the SEC to figure out what happened. Senator Elizabeth Warren, one of Wall Street’s leading critics in Washington, has demanded that the SEC investigate the “casino-like swings.” Both the House and Senate are planning to hold hearings on the market mania, which triggered big losses for some retail investors and prompted Robinhood Markets, whose app was used by many of the traders, to raise $3.4 billion to cover collateral demands.

The fingerpointing reached as high up as the Treasury, where the person whose actions were most directly responsible for today’s asset bubble and last week’s bizarro market activity – Janet Yellen, who before taking over the Treasury was in charge of the Fed for years – is now overseeing the regulatory oversight of what happened.

“Secretary Yellen believes the integrity of markets is important and has asked for a discussion of recent volatility in financial markets and whether recent activities are consistent with investor protection and fair and efficient markets,” the Treasury Department said in a late Tuesday statement.

It’s unclear what the SEC will do if and when it discovers some criminally collusive social media posts: while the SEC doesn’t regulate social media or message boards, Bloomberg notes that the agency has brought cases against people accused of making false claims about stocks online. In one case in 2000, the agency went after a 15-year-old for buying microcap stocks and then hyping the shares before quickly selling them for a profit. The teenager agreed to repay more than $270,000 in profit to resolve the allegations. In December, the SEC sued a day trader for planting false rumors about companies.

Yet what will make the SEC’s life very difficult is that nothing that has been said about GME on message boards is false: the company was indeed the most shorted small-cap company in the US (it’s SI as a % of float was 140% just a few weeks ago) as for the rest, well it’s just a snowball effect that emerged once the price started rising. Incidentally, the first sharp spike in GME stock took place two Fridays ago when Citron’s Andrew Left conceded that he would no longer discuss his GME short thesis. Sensing blood, that’s when the reddit traders started bidding up the name ever higher hoping that the Citron founder would be the first casualty.

And indeed he was, although there would be many others.

In any case, even if the SEC has a clear mandate to throw someone under the bus, it’s unlikely this will happen any time soon: SEC investigations often take months or even years to complete so it’s likely that the GameStop tumult will be long over by the time the probe wraps up.

Still, the agency’s findings could have implications for the broader retail market and lead to policy changes for short-selling, trade settlement, online apps and disclosure rules.

And while we certainly welcome the SEC’s effort to clamp down on social media manipulation, perhaps once it is done with Wallstreetbets, the SEC can look into the private website of www.valueinvestorsclub.com (VIC), created by hedge fund managers Joel Greenblatt and John Petry, where similar “pitching” of ideas happens all the time, only instead of millions of retail investors armed with $600 stimmy checks, the VIC audience is several dozen multi-billion dollar hedge funds.

It would stand to reason that if what the redditors did was wrong, then the favorite online hangout of a select group of hedge funds should fall under the microscope too.

END
BITCOIN/DOGECOIN

Bitcoin Dips, Dogecoin Rips After Musk Breaks Brief Twitter Silence

THURSDAY, FEB 04, 2021 – 8:10

Having given the SEC a ‘virtual’ middle finger during the ‘TSLA 430’, ‘funding secured’ debacle, the world’s richest man is back after a brief haitus on Twitter to pump (and perhaps dump) cryptocurrencies.

image courtesy of CoinTelegraph

Just days after saying he would be taking a break from Twitter “for a while,” Musk began his morning tweetfest with a one-word message: “Doge” and an image of a rocket heading to the moon…

And then the tweetfest continued…

That series of tweets sparked a huge surge in Dogecoin…

Source: CoinDesk.com

To which he concluded…

Additionally, Musk’s removal of the word ‘Bitcoin’ from his bio prompted some weakness in the biggest crypto…

Source: Bloomberg

And, if researchers are correct, cryptocurrency holders should hope that Elon Musk doesn’t get bored of Bitcoin anytime soon. CoinTelegraph reports that Blockchain Research Lab published a paper on Jan. 3 titled, How Elon Musk’s Twitter activity moves cryptocurrency markets. The paper looks at six occasions when Elon Musk tweeted about cryptocurrency and attempts to measure the resultant impact on the trading volume and spot price of the coins in question.

“We investigate the impact of Elon Musk’s Twitter messages on cryptocurrency markets. By applying event study methodology, the impact of six Twitter events from 2020 and 2021 on return and trading volume of the mentioned cryptocurrency is analyzed,” the paper states.

Of the six tweets, four were related to Dogecoin and two were related to Bitcoin. The paper concludes that all six events had an impact on the trading activity of both cryptocurrencies, specifically their trade volume:

“Across all events, we identify significant increases in trading volume that are attributable to the events.”

We wonder how much longer Musk can keep up these ‘pumping’ tweets before a regulator starts paying attention’ or is the world’s richest man merely mocking the insanity of Dogecoin’s moves?

As a reminder, in an interview with Clubhouse last week, Musk described his various previous interactions with the cryptocurrency as “jokes,” nonetheless musing that its best days could still lie ahead:

“Dogecoin is made as a joke to make fun of cryptocurrencies, obviously, but fate loves irony,” he summarized at the time.

Or does the world’s richest man still think he is there for the little guy?

end

Your early THURSDAY morning currency, Asian stock market results,  important USA/Asian currency crosses, gold/silver pricing overnight along with the price of oil Major stories overnight/7 AM EST

i) Chinese yuan vs USA dollar/CLOSED DOWN AT 6.4654 /

//OFFSHORE YUAN:  6.47040   /shanghai bourse CLOSED DOWN 15.45 PTS OR .44%

HANG SANG CLOSED DOWN AT 304.55 PTS 1.06%

2. Nikkei closed DOWN 193.96 POINTS OR 0.66%

3. Europe stocks OPENED ALL GREEN EXCEPT LONDON/

USA dollar index DOWN TO 91.41/Euro FALLS TO 1.1987

3b Japan 10 year bond yield: RISES TO. +.06/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 107.85/ 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//CARRY TRADERS GETTING KILLED

3c Nikkei now JUST BELOW 17,000

3d USA/Yen rate now well below the important 120 barrier this morning

3e WTI:: 58.81 and Brent: 56.10

3f Gold DOWN/JAPANESE Yen DOWN CHINESE YUAN:   ON -SHORE CLOSED DOWN/OFF- SHORE: DWON

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 UP for WTI and UP FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.47%/Italian 10 yr bond yield DOWN to 0.57% /SPAIN 10 YR BOND YIELD UP TO 0.13%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.13: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.63

3k Gold at $1818.40 silver at: 26.55   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 43/100 in roubles/dollar) 78.47

3m oil into the 56 dollar handle for WTI and 58 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 105.28 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 .9024 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0819 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 NEGATIVE territory with the 10 year RISING to 0.47%

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 1.140% early this morning. Thirty year rate at 1.928%

5. Details Ransquawk, Bloomberg, Deutsche bank/Jim Reid.

6.  TURKISH LIRA:  UP  TO 7.12..

Stock Rally Fizzles Amid Growing Reflation Concerns, Rising Dollar

THURSDAY, FEB 04, 2021 – 8:00

Global markets were flat, and European stocks and US equity futures unchanged, struggling to eek out a fourth day of gains on Thursday as a rising USD and rising bond yields refocused attention on inflation and normalising economies. At 7:30 a.m. ET, Dow e-minis were up 4 points, S&P 500 e-minis were up 3.75points, or 0.1%, and Nasdaq 100 e-minis were up 40.5 points, or 0.29%.

With the WallStreetBets/Reddit retail short squeeze tumult having eased this week, markets were back in their comfort zone of corporate earnings, economic data and central bank meetings. US stocks closed slightly higher on Wednesday, with Google shares hitting a record high following strong quarterly results. All the three major indexes have bounced back sharply this week as investors monitored talks over the next round of fiscal stimulus and as a recent buying frenzy driven by social media appeared to stall following a bout of market volatility last week. Meme names rose, with GameStop up 3.9%, while AMC added 2.6% in premarket trading ahead of U.S. Treasury Secretary Janet Yellen’s meeting with financial regulators later in the day to discuss the recent market volatility.

Meanwhile, the bogeyman of rising inflation is back as hopes that the COVID pandemic can be brought to heel by extensive vaccination programmes, combined with expectations of unswerving global economic stimulus, has begun to see bond market focus returning to rising debt and possible inflation. The 10Y US yield rose just shy of 1.15% this morning, as traders renew reflation bets amid signs the economic recovery is gathering pace and the imminent passage of $1.9 trillion of pandemic aid by U.S. lawmakers. Friday’s payroll report may provide fresh impetus after the private sector added more jobs than forecast in January.

“These numbers give investors limited reason to fade rates weakness at this stage,” strategists at Mizuho International Plc including Peter Chatwell wrote in a Thursday report. The “momentum” pushing up rates could take the 10-year Treasury benchmark yield to 1.2% and the long-bond to 2% before stalling, they predicted.

In central bank moves, the pound erased a loss as Bank of England policymakers said inflation is expected to rise sharply, while voting to keep the key rate at 0.1% and the bond-buying target unchanged.

“The BoE will maintain a quite cautious tone,” said Silvia Dall’Angelo, a senior economist at fund management firm Federated Hermes, adding it was likely that the bank would talk about negative rates. “But at this stage there is very little appetite to use this measure.”

European stocks erased an earlier gain amid a mixed bag of company results. Deutsche Bank reversed an earlier gain after the German lender reported its first annual profit in six years, and Unilever slumped after margins missed estimates on restructuring charges.

Markets were also softer in Asia where stocks fell overnight, their first decline this week, weighed down by drops in technology companies. MSCI’s ex-Japan Asian-Pacific index fell 0.6%, led by 1.3% and 0.4% drops in South Korea and China. Japan’s Nikkei lost 1% as it ended a three-day winning streak. Rising Chinese short-term interest rates kept risk appetite low, though analysts also noted position adjustments before the Lunar New Year starting next week are likely to play a role too. Higher interest rates have raised worries that Chinese policymakers may be starting to shift to a tighter stance to rein in share prices and property markets.

“There’s persistent speculation that the Chinese authorities may want to tighten its policy,” said Wang Shenshen, senior strategist at Mizuho Securities.

Asian stocks Samsung Electronics was the biggest contributor to the MSCI Asia Pacific Index’s drop, falling after Qualcomm warned it was struggling to meet rebounding demand for chips. TSMC, SK Hynix and Xiaomi were also among the biggest drags. South Korea led declines among national benchmark gauges. Japanese stocks dropped, with losses in personal-care products maker Kao contributing most after it gave guidance that trailed analyst estimates. Sony shares surged to their highest level since 2000 on positive earnings. India bucked the trend as its benchmark stock gauge extended a rally to a record high after the government unveiled a massive annual spending plan.

With no notable fireworks overnight, markets have calmed in the past few days with the Cboe Volatility index slipping to its lowest levels in over a week. As the retail trading frenzy seen last week faded, stock prices of GameStop and other social media favorites have steadied, although cryptocurrency Ethereum has been on a tear ahead of the introduction of futures contracts next week.

In rates, treasuries were narrowly mixed across the curve, yields within 1bp of Wednesday’s closing levels, after paring declines that pushed 30-year above its March 2020 high. Treasury 10-year yields around 1.14% after nearly reaching 1.15% during Asia session, while 30-year took out the March highs, moves that were pared during European morning. Gilt yields shot higher after BOE rate decision, buoying U.S. yields slightly. Germany’s 30-year government bond yield on Thursday was almost back in positive territory for the first time since September. The gap between two- and 10-year U.S. Treasury yields at more than 100 basis points is now the widest in almost three years.

In FX, the dollar hit a near-three-month high versus the Japanese yen of 105.19. The euro lost 0.4% to $1.1989, having already hit a two-month low overnight below 1.20, failing to capitalize on improved sentiment in Italy after former European Central Bank chief Mario Draghi accepted the task of trying to form a new government in the country. The pound rebounded from the biggest decline in three weeks after the BOE cautioned that much higher inflation may be coming, pouring cold water on expectations for negative rates. The yen fell a seventh day versus the dollar, the longest losing streak since 2016.

In commodities, oil continued its ascent with OPEC+ saying it will keep pushing to quickly clear the surplus left behind by the pandemic. Brent approached $60 a barrel after OPEC and its allies extended production cuts. Silver settled further into a calmer trading pattern after the wild ride inspired in part by a retail-investor buying frenzy, while gold headed for the lowest close in two months. Gold fell 1% to $1,810 per ounce.

“OPEC have come in and said they are looking to remove the supply but the main driver is markets are starting to price in demand recovery, especially from emerging markets,” said Legal & General Investment Management’s Justin Onuekwusi.

Meanwhile earnings season is still in its prime, with U.S. companies on track to post earnings growth for the fourth quarter of 2020, data from Refinitiv showed on Wednesday, which would defy expectations for profits to drop 10% due to the pandemic.

Looking at the day ahead, central bank speakers include the ECB’s Hernandez de Cos, along with the Fed’s Kaplan and Daly. On the data front, we’ll get the weekly initial jobless claims and December factory orders. Finally, earnings releases include Gilead, Merck & Co., T-Mobile US, Bristol Myers Squibb, Philip Morris International and Ford.

Market Snapshot

  • S&P 500 futures up 0.1% to 3,825.75
  • Stoxx Europe 600 little changed
  • MXAP down 0.6% to 210.99
  • MXAPJ down 0.6% to 712.38
  • Nikkei down 1.1% to 28,341.95
  • Topix down 0.3% to 1,865.12
  • Hang Seng Index down 0.7% to 29,113.50
  • Shanghai Composite down 0.4% to 3,501.86
  • Sensex up 0.8% to 50,678.05
  • Australia S&P/ASX 200 down 0.9% to 6,765.50
  • Kospi down 1.3% to 3,087.55
  • Brent futures up 0.4% to $58.71/bbl
  • Gold spot down 1.1% to $1,814.77
  • U.S. Dollar Index up 0.3% to 91.44
  • German 10Y yield fell 0.6 bps to -0.467%
  • Euro down 0.4% to $1.1988

Top Overnight News from Bloomberg

  • Of the five countries leading the fight against Covid-19, all but one saw their currencies gain versus the dollar in January, according to a Bloomberg study of the 15 biggest economies with publicly available vaccination and infection data
  • The U.K. has passed the peak of its latest wave of the coronavirus pandemic, officials said, as the country reached the milestone of vaccinating 10 million people, about 15% of the population
  • Treasury Secretary Janet Yellen’s plan to oversee a snap meeting of top regulators to discuss recent market volatility signaled the new administration’s focus on consumer financial protection after years of emphasis on deregulation
  • Deutsche Bank AG closed out a bumper year for trading with a result that beat most Wall Street peers, handing Chief Executive Officer Christian Sewing the first annual profit in six years as he leans increasingly on the investment bank

A quick look at global markets courtesy of Newsquawk

Asian equity markets were mostly lower following a flat lead from the US where participants were tentative amid mixed earnings and as focus remained on stimulus plans with some expectations tempered regarding the stimulus amount after President Biden suggested he is willing to limit the eligibility for stimulus checks but won’t budge on the size of payments at USD 1,400 and there were also comments from a Biden adviser who speculated that the final stimulus size could be USD 1.3tln. ASX 200 (-0.9%) was dragged lower by underperformance in defensive sectors and with the mood also soured after fresh COVID-19 measures were announced in Victoria state following 3 new infection cases, while mixed trade data showed a decline in Imports which suggested weaker domestic demand. Nikkei 225 (-1.1%) succumbed to negative mood which overshadowed encouraging blue-chip earnings that lifted Hitachi, Nomura Holdings and Sony shares after they all registered profit growth. Hang Seng (-0.8%) and Shanghai Comp. (-0.4%) were choppy after the PBoC opted for 14-day reverse repos in its open market operation for the first time this year ahead of next week’s Lunar New Year holidays, although this still amounted to a net neutral position on the day. Tensions between US and China also lingered after the US State Department noted it is deeply disturbed by allegations of rape and sexual abuse against women at the Uighur camps in Xinjiang and called for China to allow independent investigations, while there were also comments from Commerce Secretary nominee Raimondo that she sees no reason why Chinese companies including Huawei and ZTE should not remain on the blacklist. Nonetheless, there were a few bright spots with Ping An Insurance the biggest gainer in Hong Kong after it topped earnings forecasts and with Alibaba kept afloat after Ant Financial Services reached an agreement with Chinese regulators on a restructuring plan to become a financial holding company, and large oil names were also boosted following recent upside in the underlying commodity price. Finally, 10yr JGBs were subdued after the continued bear-steepening in USTs but with downside stemmed amid losses in stocks, with JGBs also not helped by mixed results at the MOF 30yr auction which registered a larger b/c due to a decline in accepted prices.

Top Asian News

  • Ant and China Banks Are Reining In Joint Loans to Consumers
  • Kuaishou Surges 181% in Hong Kong Gray Market Trading
  • KAZ Minerals Buyout Offer Increased After Investor Pressure

European equities kicked off the session mostly firmer (Eurostoxx 50 +0.1%) in what has been a busy morning of corporate updates across the region. From a macro perspective, focus remains on the progress of vaccinations and subsequent impact on reopening efforts, whilst US stimulus talks have taken an increased focus in recent sessions as the euphoria surrounding last week’s WallStreetBets short squeeze dissipates. Focus for stimulus will in the large-part centre around the overall price tag of the legislation, however, a more nuanced view of the matter will consider what concessions the Biden camp is willing to make (e.g eligibility criteria for stimulus checks) in order to navigate Congressional obstacles presented by the GOP and from within certain parts of his own party. Back to Europe, the modest divergences in the performance of regional indices is largely attributable to corporate updates with the AEX (-0.3%) softer on account of disappointing earnings from Unilever (-4.6%) who sit at the foot of the Stoxx 600 and has prompted underperformance in the Personal & Household Goods sector. Elsewhere, from a sectoral standpoint, telecom names are also lagging peers amid post-earnings losses from Nokia (-2.0%) with the Co. unable to counter some of the retail-led swings in its share price despite a relatively positive report. Additionally for the sector, opening gains in BT (now flat) shares proved to be short-lived. Deutsche Bank (-1.6%) also staged a turnaround despite opening higher to the tune of 3.5% after reporting its first profit since 2014. Further pressure for the banking sector has also been presented by losses in Commerzbank (-2.8%) after the Co. reported a FY20 net loss of EUR 2.9bln and finalised plans for a reduction in 10k full time jobs. Elsewhere in Germany, Bayer (+5.1%) have lent a helping hand to the DAX after striking a USD 2bln agreement to resolve future legal claims over future Roundup cancer claims. Shell (-1.3%) shares are modestly lower on the session after announcing a 71% decline in profits for 2020 as the impact of the pandemic sapped global energy demand.

Top European News

  • Shell Deepens Big Oil’s Disappointment With Earnings Miss
  • Nokia Sees Revenue Drop in 2021 in Fight for Market Share
  • SoftBank- Backed Auto1 Soars in Debut After $2.2 Billion IPO
  • Deutsche Bank’s DWS Rakes in Most Client Cash Since Listing

In FX, The broader Dollar and index continues to gain ground above 91.000 in early European trade after experiencing defensive inflows overnight, whilst notching the current peak just shy of 91.500 as EUR/USD dipped under the 1.2000 mark for the first time this year before trundling lower. Fundamental news-flow has been scarce in the European morning thus far. On the State-side stimulus front, as expected the House voted to pass the budget plan in a bid to fast-tracks President Biden’s stimulus proposal, but some see a more moderate final package. Looking ahead for the Dollar, barring any major fundamental catalysts, the BOE is likely to take centre stage in the run-up to the weekly IJCs – although these metrics could be overlooked as it falls outside the survey period for tomorrow’s jobs report. From a technical standpoint, upside levels include the psychological 91.500 mark ahead of the 100 DMA at 91.852, whilst to downside levels see yesterday’s 90.988 low alongside the 21 and 50 DMAs at 90.491 and 90.478 respectively. Over to the single currency, EUR/USD ebbs further sub-1.2000 after earlier tripping some stops below the figure as it inches closer towards the 100 DMA (1.1965) as eyes remain on the Italian political limbo, whilst some also note of increased demand for EUR/USD downside protection via shorted-dated put strikes, with many reportedly at 1.1900. Note, the pair eyes some EUR 1bln in OpEx between 1.2000-05 alongside EUR 2.7bln between 1.2035-50.

  • GBP – Sterling succumbs to the Buck in the run up to the BoE policy announcement (full preview available on the Newsquawk Research Suite) where eyes will be fixated on commentary on the feasibility of NIRP for the banking sector if required, although the immediacy of such policy is likely to be downplayed by the MPC. Meanwhile, markets currently pencil in incremental negative rates for August. Cable has descended from its 1.3683 high, through its 21 DMA (1.3645) to trade sub-1.3600 as keeps its 50 DMA (1.3540) on the radar.
  • AUD, NZD, CAD – The non-US Dollars portray varying degrees of resilience vs the Dollar amid possible impetus/cushioning stemming from the commodities complex. AUD/USD outpaces its peers despite lacklustre trade data overnight, with some also citing a retracement of the RBA-induced downside earlier in the week, although firmer copper and iron ore prices could be underpinning the currency. AUD/USD resides just above 0.7600 after finding mild support at its 50 DMA (0.7614), with clean air seen on either side aside from the psychological figures. The Loonie has dipped probes 1.2800 but the Dollar headwinds have been diminished as crude prices remain elevated. The Kiwi straddles around 0.7200 as the AUD/NZD cross hovers around 1.0600. Technicians will be eyeing the a couple of downside DMAs in the NZD/USD including the 21 DMA (0.7185) and the 50 DMA (0.7140).
  • CHF, JPY – Again another Dollar story with USD/JPY edging further above 105.00 after surpassing this week’s prior high of 105.17 with the 200 DMA 105.57 up ahead. For reference, the pair sees around USD 1.4bln in OpEx at strike 105.00 heading into today’s NY cut. Subsequently, USD/CHF has reclaimed a 0.9000+ handle and topped the 100 DMA (0.9013)

In commodities, WTI and Brent front month futures remain somewhat uneventful as the complex takes a breather following its recent run higher as vaccine hopes and OPEC+ proactivity keep prices elevated. On the OPEC front, the meeting and outcome were as planned and no decision was made for next month’s output. The key date to watch would be the March 3-4th confabs as producers re-diagnose the crude market and decide on the next step – although, this risks forming another rift among the producers as higher prices tempt more output whilst the near-term outlook remains clouded. WTI and Brent both reside in tight ranges around USD 56/bbl and USD 58.75/bbl respectively. Elsewhere, spot gold and silver continue to see losses as the firmer Dollar weighs on precious metals. Spot gold hovers just above USD 1800/oz (vs high USD 1834/oz) whilst spot silver trades sub-26.50/oz (vs high. 26.92/oz). Turning to base metals, copper prices were firmer overnight amid US stimulus hopes, with Shanghai copper closing higher by some 1.2%. However, LME copper waned off best levels as the firmer Dollar and indecisive risk tone hampered upside. Meanwhile, Dalian iron ore futures soared around 5% amid tailwinds from Brazil’s Vale stating its 2020 output was subdued.

US Event Calendar

  • 8:30am: Jan. Initial Jobless Claims, est. 830,000, prior 847,000; Continuing Claims, est. 4.7m, prior 4.77m;
  • 8:30am: 4Q Nonfarm Productivity, est. -3.0%, prior 4.6%; Unit Labor Costs, est. 4.0%, prior -6.6%
  • 10am: Dec. Cap Goods Orders Nondef Ex Air, est. 0.6%, prior 0.6%; Cap Goods Ship Nondef Ex Air, prior 0.5%
  • 10am: Dec. Durable Goods Orders, est. 0.2%, prior 0.2%
  • 10am: Dec. Factory Orders Ex Trans, prior 0.8%; Dec. Factory Orders, est. 0.7%, prior 1.0%

DB’s Jim Reid concludes the overnight wrap

Following an incredibly strong start to the week, the global rally in risk assets showed signs of waning yesterday, with the S&P 500 ending the session up just +0.10%. However under the surface there was a return of the pro-cyclical trade, which coincided with steepening yield curves, as Energy (+4.27%) and Bank (+1.73%) stocks were among the best performing industries. Even the Reddit stocks seemed to calm down with GameStop moving just +2.68%, after not having a single-digit percentage price move in over a week. While some trades like AMC (+14.2%) still saw outsized moves, others such as Nokia (+3.75%), Blackberry (+3.90%) and Silver (+0.79%) also calmed down. It was a similar story of moderate moves in the other major indices, with the NASDAQ broadly unchanged (-0.02%) and Europe’s STOXX 600 (+0.33%). Oil prices did rise to their highest level since the pandemic started though as Brent crude rose +1.74% to $58.46 and WTI rose +1.70% to $55.69 – which is its highest closing price in just over a year. This came on the back of a communique from the OPEC+ which said that it will keep pushing to quickly clear the oil surplus left behind by the pandemic.

Similar to oil, Italian assets surged after former ECB President Mario Draghi accepted a mandate from President Matteralla to form the next Italian government, an outcome that investors have taken extremely well. By the close, the FTSE MIB had risen +2.09% to far outpace the other European bourses, and the spread of 10yr Italian yields over bunds tightened by -8.9bps to their narrowest level in nearly 5 years. Indeed, that’s the biggest one-day decline in spreads since June, back when the ECB announced a €600bn expansion of their asset purchases. The task now for Draghi will be to win support from enough lawmakers to form a new government, since a government requires a positive vote of confidence in parliament. But according to our European economists (link here) the pressure on politicians to compromise is extremely high following the President’s message, and it would be quite difficult for the parties in the outgoing government to say no to a Draghi government. As a result, they think it’s more likely than not that Draghi is able to get majority support. How long such a government lasts is another question our economists try to answer in their note.

It was a different story outside of southern Europe however, as sovereign bond yields continued to move higher on both sides of the Atlantic, with those on 10yr bunds up +2.5bps to their highest level in nearly 6 months. In the US, Treasury yields also climbed further, with those on 10yr debt rising +4.1bps to 1.137%, as 30yr yields reached their highest level since the pandemic began, at 1.93%. The moves came as President Biden told House Democrats yesterday that he was more concerned that too little would be spent rather than too much when it came to economic relief. Democrats voted to open budget reconciliation measures in both chambers of Congress yesterday, with party leaders again asking for Republican support while signalling that they are willing to pass the majority of the stimulus measures through a party line vote if necessary.

Against this backdrop, the 2s10s yield curve, which is one of our favourite cyclical indicators, steepened further, reaching a 3-year high of 102bps, whilst the 5s20s curve reached its highest level in almost 5 years and the 5s30s steepened to levels last seen in October 2016. Over the past few months when US yields climb near pandemic highs, the question of yield curve control always seems to be raised. Fed Governor Bullard this time fielded the question and responded that the current policy is “in good shape” and that there is no need to adjust, while also saying there was quite a way to go before curtailing asset purchases as well.

Overnight the recent equity rally has unwound a little with the Nikkei (-1.02%), Hang Seng (-1.57%), Shanghai Comp (-1.26%), Kospi (-1.89%) and Asx (-0.87%) all down. Futures on the S&P 500 are down -0.26% as we type while the US dollar index is up +0.11%. Weighing on sentiment a touch are hawkish comments from the US Commerce Secretary nominee Gina Raimondo on restricted Chinese companies. She said that she knows of “no reason” why Huawei, ZTE and other Chinese companies shouldn’t remain on a restricted trade list thus suggesting that the new administration will likely continue with a hard-line stance on China. In other overnight news, the meeting between Treasury Secretary Yellen and US financial regulators will take place today on the recent bout of volatility in the markets.

Data yesterday showed that inflation in the Euro Area in January rose by more than expected, with the flash estimate showing prices were up +0.9% on the previous year (vs +0.6% expected), bringing to an end 5 successive months in which the Euro Area had been in deflationary territory. Core inflation also saw a similarly sharp rise, climbing to +1.4% (vs. +0.9% expected), albeit these jumps were driven by a number of one-off factors like the end of the temporary VAT cut in Germany. That said, in spite of these temporary factors, there were further signs that market expectations of longer-term inflation were also moving higher, with the 5y5y forward inflation swaps for the Euro Area up +6.1bps to 1.38%, their highest level in over a year. On top of this, both German and Italian 10yr breakevens were at a fresh 2-year high.

Speaking of inflation, our chart of the day yesterday (link here ) looked at the massive rise in shipping rates over recent months, with the Shanghai Containerized Freight index at more than triple its levels in May last year, and other freight indices are showing much the same picture. There are a number of reasons why this has happened, from Covid-related disruption, a more rapid bounceback in economic growth, along with the 3 major shipping alliances becoming far more disciplined around capacity. The big question will be whether this portends a larger rise in inflation this year as pent-up demand and excess savings are released. One thing I learnt in compiling the note is that commercial airlines are used for a lot of freight. So if economies increasingly re-open but commercial travel is restricted on fears of virus mutations being imported, then we could have more supply chain issues and more upward pressures on prices.

In terms of the latest on the pandemic, the World Economic Forum announced that they would be moving their annual meeting to August, which had previously been scheduled for late May. Meanwhile in the UK, it was confirmed that the number of people who’d received a first dose of the vaccine had now surpassed 10 million, while the 7-day case average fell to a 7-week low yesterday of 22,395. Israel, who already lead the world in vaccinations per capita, announced they will be widening availability to all people over the age of 16 starting today. Meanwhile in the US, New York City announced that taxi drivers and restaurant workers are now eligible for the jab. This comes just ahead of limited indoor dining reopening later this month. Meanwhile other states in the North-eastern US continue to loosen restrictions with New Jersey expanding their own indoor dining quotas and allowing restaurants to remain open longer as the Governor cited improving hospitalisations and case count data as the reason for the changes.

Moving onto vaccines, AstraZeneca and the University of Oxford said overnight that they have started looking at how to re-engineer their coronavirus vaccine to defeat new mutations. The University of Oxford is also undertaking another trial that will combine vaccines from Pizer/BioNTech and AstraZeneca to see whether two shots of different vaccines produce better or worse results than two doses of the same product. The university will begin recruiting 820 participants over 50 years of age across eight UK sites this week. A successful outcome from the study will help manage supplies better.

Staying on the UK, one of the highlights later today will be the first BoE policy decision of 2021 at 12:00 London time. In terms of what to expect, our UK economists (link here) write that the MPC is likely to deliver a dovish message, and they see the Bank formally including negative rates in its toolkit, which should lower the bar for further rate cuts. However, no policy changes are expected at this stage, with a unanimous vote from the MPC to keep rates unchanged. Beyond this meeting, their base case is that the MPC will stay on hold for the rest of this year, though risks remain from a longer-than-expected lockdown or a disappointing recovery.

Finally on the data front, the final Euro Area composite PMI for January was revised up slightly from the flash reading to 47.8 (vs flash 47.5), while the UK also saw an upward revision to 41.2 (vs. flash 40.6). Over in the US, the ISM services index for January rose to a stronger-than-expected 58.7 (vs. 56.7 expected), which is its strongest level since February 2019. Separately, ahead of tomorrow’s jobs report, the ADP’s report of private payrolls also rose by a much stronger-than-expected +174k in January (vs. +70k expected).

To the day ahead now, and the aforementioned Bank of England decision will be one of the highlights, while the ECB will also be publishing their Economic Bulletin. Other central bank speakers include the ECB’s Hernandez de Cos, along with the Fed’s Kaplan and Daly. Data highlights include the January construction PMIs from the UK and Germany, along with Euro Area retail sales for December. Meanwhile in the US, we’ll get the weekly initial jobless claims and December factory orders. Finally, earnings releases include Gilead, Merck & Co., T-Mobile US, Bristol Myers Squibb, Philip Morris International and Ford.

3A/ASIAN AFFAIRS

i)THURSDAY MORNING/ WEDNESDAY NIGHT: 

SHANGHAI CLOSED DOWN 15.45 PTS OR .44%   //Hang Sang CLOSED DOWN 304.55 PTS OR 1.06%    /The Nikkei closed DOWN 193.96 POINTS OR 0.66%//Australia’s all ordinaires CLOSED UP 0.75%

/Chinese yuan (ONSHORE) closed DOWN AT 6.4654 /Oil UP TO 56.10 dollars per barrel for WTI and 58.81 for Brent. Stocks in Europe OPENED ALL GREENE EXCEPT LONDON//  ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.4654. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4704 TRADE TALKS STALL//YUAN LEVELS //TRUMP INITIATES A NEW 25% TARIFFS FRIDAY/MAY 10/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED//CORONAVIRUS/PANDEMIC/TRUMP TESTS POSITIVE FOR COVID 19  : /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

3 a./NORTH KOREA/ SOUTH KOREA

South Korea

b) REPORT ON JAPAN

3 C CHINA

CHINA/

China is definitely reining in Jack Ma’s ANT Fintech Empire.  An agreement as been reached on “restructuring” whereby the Central Bank of China will have scrutiny over it.  This is why the West should not invest in any Chinese operation

(zerohedge)

China Definitively Reins In Jack Ma’s Ant Fintech Empire – Agreement Reached On “Restructuring”

WEDNESDAY, FEB 03, 2021 – 17:20

It appears Chinese authorities have finally induced Jack Ma to cave. After the co-founder of Alibaba and Ant was feared possibly missing as he disappeared from public few during the final months of last year which coincided with increased government scrutiny on his hugely successful and rapidly expanding Ant Financial fintech – since subject of an antitrust investigation initiated in December – only to briefly re-emerge for a live-streamed conference in January, China has apparently made it clear that the only way Ma could make amends for previously pointing out that Chinese banks are unsound is if Beijing gets regulatory control over Ant.

New Bloomberg reporting finally puts to rest months of speculation over whether Ma would resist the Chinse crackdown which also saw authorities abruptly halt a planned-for blockbuster IPO in November, notably after Ma personally pissed off President Xi: “Ant Group Co. and Chinese regulators have agreed on a restructuring plan that will turn Jack Ma’s fintech giant into a financial holding company, making it subject to capital requirements similar to those for banks.”

Via FT

While not yet officially announced, “The plan calls for putting all of Ant’s businesses into the holding company, including its technology offerings in areas such as blockchain and food delivery, people familiar with the matter said,” Bloomberg writes further.

And there’s likely more severe moves toward further regulation from central authorities to come:

Ant’s restructuring plan marks the first big step in what’s expected to be a lengthy overhaul process, as regulators draw up detailed capital requirements and other guidelines for companies that span multiple financial business lines.

To translate, in short Ant Group will now be overseen by China’s central bank.

We noted before that the silencing of Ma or even any official reporting on the antitrust probe for that matter clearly indicates the sensitivity of this topic at the highest levels of Chinese politics, essentially suggesting that Ma had outlived his usefulness, and that Beijing would never tolerate a billionaire with so much power and influence, both at home, and in the West.

China’s regulatory framework dictating rules for financial holding companies was only unveiled in September, thus “they’ll almost certainly force the company to slow the torrid pace of expansion that has made it China’s dominant fintech player and one of the world’s most valuable startups,” Bloomberg notes further.

While Ant is still said to be mulling ways to revive its initial public offering, this latest news is the clearest indicator throughout the saga that it will be a long time in coming, if ever at all.

end

CHINA

New diseases are plaguing the hog industry in China. Last year over 1/2 of pigs were wiped out due to Pig Ebola.

(zerohedge)

“Right Now Is Bad” – Diseases Plague China’s Pig Herd In Dark Winter

THURSDAY, FEB 04, 2021 – 6:45

China’s pig herd is on alert again as disease outbreaks ramp up this winter. Reuters reports the new outbreak of diseases could hamper the hog recovery after the African swine fever contagion a few years ago wiped out about half of the country’s herd.

Government data shows China’s pig herd expanded by 31% in 2020. But with new outbreaks of swine fever in the northeast and northern provinces and rising Porcine epidemic diarrhea (PED), the widespread increase in diseases this winter has been very concerning to farmers.

“The disease challenge right now is bad,” said one farmer, who declined to give his name to Reuters because the Chinese Communist Party (CCP) has banned him to speak with the media.

Beijing has spent the last year restoring its pig herd and pork supply as the world’s biggest consumer. For months, the CCP has kept the outbreaks of various diseases under wraps.

Pan Chenjun, a senior analyst at Rabobank in Beijing, said, “swine fever never stopped but recently there’s been even more, and more other diseases.”

“The high price in December was at least partly driven by disease,” Chenjun said, as well as rising demand ahead of the Lunar New Year holiday.

Spot hog prices in major producing province Shandong <JCI-HOG-SHOUGN> recently jumped to 36 yuan ($5.57) per kg, the highest since August and nearly three times the price before African swine fever was reported in late 2018.

In response the swine fever, farmers had to increase their piglet herds for a speedy recovery. These farmers are raising young pigs that are highly susceptible to PED and other diseases.

“That has increased the intensity of this winter’s outbreak because so many new farms, built to replace the swine fever-reduced herds, are stocked with young females that have passed the virus to their offspring,” she said. 

“It can kill one month of suckling pigs just like that,” she added.

Beijing expects its pig herd to recover by the first half of 2021. By November, herd levels reached 90% of their levels pre-swine fever outbreak. But now rising piglet prices suggest a shortage could materialize, which may hit pork output later this year.

USDA reports China has made record purchases of US corn products, sending prices to levels not seen since 2013. Judging by the dark winter of diseases in China’s pig herds, Beijing could soon ramp up its pork purchases from US farmers.

end

4/EUROPEAN AFFAIRS

UK/

Bank of England is keeping policy unchanged and warns to prepare for negative rates. It sees a spike in inflation.

BoE Keeps Policy Unchanged, Tells Banks To Start Preparing For Negative Rates “If Necessary” But Sees Spike In Inflation

THURSDAY, FEB 04, 2021 – 7:29

The Bank of England kept its stimulus program unchanged on Thursday. The BoE maintained its Bank Rate at 0.1% and left the size of its total asset purchase programme at 895 billion pounds in a unanimous decision, as expected.

Growth and Inflation

On QE, the BOE said that “if needed, there was scope for the Bank of England to re-evaluate the existing technical parameters of the gilt purchase programme” but that is unlikely since the BOE’s growth forecast was far stronger than previously:

  • UK GDP is expected to have risen a little in 2020 Q4 to a level around 8% lower than in 2019 Q4.
  • This is materially stronger than expected in the November Report.
  • While the scale and breadth of the Covid restrictions in place at present mean that they are expected to affect activity more than those in 2020 Q4, their impact is not expected to be as severe as in 2020 Q2, during the United Kingdom’s first lockdown.
  • GDP is expected to fall by around 4% in 2021 Q1, in contrast to expectations of a rise in the November Report.
  • Global GDP growth slowed in 2020 Q4, as a rise in Covid cases and consequent restrictions to contain the spread of the virus weighed on economic activity. Since the MPC’s previous meeting, financial markets have remained resilient.

The BOE also said that CPI inflation was expected to rise quite sharply towards the 2% target in the spring, as the reduction in VAT for certain services comes to an end and given developments in energy prices. In the MPC’s central projection, conditioned on the market path for interest rates, CPI inflation is projected to be close to 2% over the second and third years of the forecast period.

Negative Rates

More notably, the Bank of England told banks to start preparing for negative interest rates, while saying that message shouldn’t be seen as a signal that the policy is imminent. Officials had been reviewing the case for negative rates for almost a year as they examine their options to help to pull the U.K. out of its worst slump in three centuries. Consultations with banks found that implementing negative rates within six months would pose increased operational risks.

“While the Committee was clear that it did not wish to send any signal that it intended to set a negative Bank Rate at some point in the future, on balance, it concluded overall that it would be appropriate to start the preparations to provide the capability to do so if necessary in the future,” officials said in minutes of its February meeting. The controversial policy has already been implemented in the European

The committee was clear that it did not wish to send any signal that it intended to set a negative Bank Rate at some point in the future,on balance, it concluded overall that it would be appropriate to start the preparations to provide the capability to do so if necessary in the future.

As with the decision to request the PRA should engage with PRA-regulated firms to commence preparations to implement a negative Bank Rate, this request to Bank staff should not be interpreted as a signal about the future path of monetary policy. The MPC would continue to work with the PRC and the Financial Policy Committee to enable them to assess the impact of setting a negative Bank Rate on the objectives of those two Committees

MPC therefore agreed to request that the PRA should engage with PRA-regulated firms to ensure they commence preparations in order to be ready to implement a negative Bank Rate at any point after six months.

The MPC understood that the PRA would make such a request by way of a follow-up letter to CEOs of PRA-regulated firms. The MPC also requested that Bank staff should commence internal technical preparations to deliver the option of a tiered system of reserve remuneration that could be ready to be implemented, should it be judged appropriate, alongside a negative Bank Rate.

And just to confused traders further, the BOE also said that it will start work on a tiered system in case rates are cut below zero.

Outlook

Looking ahead, Committee stands ready to take whatever additional action is necessary to achieve its remit. The Committee does not intend to tighten monetary policy at least until there is clear evidence that significant progress is being made in eliminating spare capacity and achieving the 2% inflation target sustainably.
The committee judged that the existing stance of monetary policy remains appropriate.

Market Reaction

In reaction to the rate decision immediate upside was seen in GBP/USD moving from 1.3564 to highs of 1.3653 on the unchanged decision, the ‘materially stronger than expected’ view on growth for 2020 when compared to the November MPR and the announcement of their findings on NIRP.

This essentially says the BoE has instructed the PRA to engage with relevant firms to begin preparations to implement a negative policy at any point after six-months; however, BoE makes clear that this is not a signal that they intend to set negative rates at some point/any point in the future.

Given these developments, Gilts Mar’21 dropped from 133.64 to 133.13 and Short Sterling pricing for negative rates, which was present in the Jun, Sep, Dec 2021 contracts prior to the announcement, is now no-longer visible as far out as December 2022.

END

UK

As we promised it would:  the UK Covid 19 variant has mutated again. Remember the words of Luc Montagnier.  A man made virus will continually morph until one gets the common cold.  The virus will become more transmissible but less deadly.

Mac Slavo/SHFTPlan.com

“Worrying” – The UK COVID-19 Variant Has “Mutated Again”

THURSDAY, FEB 04, 2021 – 5:00

Authored by Mac Slavo via SHTFPlan.com,

Prepare for the mainstream media’s onslaught and push for the vaccine propaganda. The United Kingdom’s new COVID-19 variant has mutated yet again, say the medical tyrants.

Tests on some samples show a mutation, called E484K, already seen in the South Africa and Brazil variants that are of concern, according to a report by the BBC.  Although this change may reduce vaccine effectiveness, the current ones in use should still work, say “experts.” Although this is an obvious ploy to gin up the fear and convince people to roll up their sleeves and take this vaccine, many are concerned.

As I pondered yesterday, what will they (the ruling class) blame the vaccine deaths on:

Here’s a question: how likely is it that the ruling class blames these deaths on COVID-21?

With the constant news of new “mutations” of the coronavirus designed to panic the already fearful masses into getting a vaccine that’s been horrifically damaging people and even killing them, we’d say this is likely. I hope I’m wrong, but not enough of the public has figured this out yet.

There has been a plan to introduce the COVID-21 strain as a more deadly and virulent mutation of COVID-19 in order to further enslave humanity.  We all need to keep an eye on what they are doing and under what pretexts. This doesn’t feel like it’ll end without at least some kind of oppressive reaction the “order followers” will attempt to force on the public.

It’s not unexpected that variants are appearing or that they will continue to change – all viruses mutate as they make new copies of themselves to spread and thrive.

Dr. Julian Tang, a virus expert at the University of Leicester, described the finding as “a worrying development, though not entirely unexpected”. –BBC

There is no more “totalitarian tiptoe.” Those pushing humanity’s enslavement know exactly what they are doing. Tang said it was important that people follow the lockdown rules and get cases of coronavirus down to prevent opportunities for the virus to mutate further. So obey your master, and listen to those who claim the right to own you. 

“Otherwise not only can the virus continue to spread, it can also evolve.”

It’s important to keep an eye on what mainstream media is pushing.  There’s always a reason it always comes back to controlling you through some kind of propaganda designed to get you to give up your basic human rights in exchange for nonexistent security.

Stay alert and aware.  It’s hard to say how much longer we’ll be bombarded with the news reports of “mutant strains” until we are either under lockdown again involuntarily, or people willingly kneel to their masters and submit to their enslavement.  One way or another, those who think they own us will push this as far as they can. It’s now up to us.

END

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

RUSSIA/USA
USA deploys B1 bombers to Norway to counter Russia’s Arctic ambitions
(zerohedge)

US Deploys B-1 Bombers To Norway For First Time Amid Russia’s Arctic Ambitions

THURSDAY, FEB 04, 2021 – 4:15

In recent years there’s been a noticeable uptick in large-scale NATO exercises in the Barents region in response to what’s perceived as Russia’s own arctic ambitions to militarize the far north.

And now the US Air Force has announced that for the first time ever it will deploy B-1 Lancer bombers along with 200 airmen to Norway, no doubt in order to “confront Russia”.

“More than 200 Air Force personnel from Dyess Air Force Base, Texas, were expected to arrive at Orland Air Base with an expeditionary B-1 Lancer bomber squadron to support missions in the region, U.S. European Command said in a statement Tuesday,” according to Stars and Stripes.

B-1 Lancer, US Air Force image

US European Command (EUCOM), which made the announcement this week didn’t indicate how long they would be deployed, only saying “scheduled missions” will occur for “a limited time”.

The US and Norwegian air forces have conducted long-range northern air patrols before, but this marks the first time American bombers will fly out of Norway, something sure to gain Russia’s attention.

The move comes following the US Air Force and Navy recently publishing new Arctic defense strategies, in July and January respectively, also amid increased Pentagon cooperation with Norway, among the founding member countries of NATO.

The Navy’s strategy, A Blue Arctic: A Strategic Blueprint for the Arctic is based on “an expected rise in the use of Arctic waters for commercial shipping, natural resource exploration, tourism and military presence” which calls for “the Navy and Marine Corps to increase regular presence in the Arctic.”

“Doing so will require the sea services to collaborate with allies as well as domestic partners like the Coast Guard and Alaska law enforcement organizations, and focus research and acquisition decisions on being able to operate successfully in the High North,” according to the prior Navy statement.

END

SAUDI ARABIA/YEMEN/USA

Biden announces the end of USA operations in the Saudi Yemen war.

Looks like he is turning his back on Saudi Arabia and leaning towards Iran.

(zerohedge)

Biden Announces End Of US Operations In Yemen War

THURSDAY, FEB 04, 2021 – 14:22

In a wide-ranging foreign policy speech at the State Department on Wednesday afternoon, President Joe Biden announced that the United States is finally ending all offensive operations in Yemen.

The war has been raging for over five years, during which time the Pentagon has been an important leader within the Saudi-UAE coalition. Within the past two years the US role there has come under increased Congressional and public scrutiny as the UN recently dubbed it the “world’s worst humanitarian crisis” as over 100,000 people have died, and an untold additional number from famine and disease.

Via ABC News

The “end to American support for offensive operations in Yemen” was among Biden’s campaign promises. As the president outlined, US forces are authorized to continue strikes against Al-Qaeda in Yemen, but any involvement in the civil war will now be switched exclusively to diplomatic efforts at ending the conflict. The US rational in supporting the Saudis has long been that Yemen’s rebels, the Shia Houthis, are covertly supported by Iran.

Thus it’s been one of the key Mideast flashpoints alongside Syria to have emerged that’s essentially been seen as a war between Iranian and Saudi proxies. The prior Trump administration specifically invoked Iran as a prime reason for continuing to closely support the Saudis and Emirates. As The Hill recounts, “Former President Trump pushed through an $8.1 billion arms sale to the Saudis in 2019 over congressional opposition by invoking ’emergency’ authorities, citing alleged threats by Iran.”

Earlier in the day Wednesday national security adviser Jake Sullivan said that America’s Gulf partners have bene notified, while further defining the scope of the Pentagon’s change in posture in Yemen, which includes seeking to stop weapons sales that have been part of fueling the war:

“It extends to the types of offensive operations that have perpetuated this civil war in Yemen that has led to a humanitarian crisis,” Sullivan said of Biden’s move, specifically pointing to two sales of precision-guided munitions approved by the Trump administration that the Biden administration has announced it is pausing.

The United States has been providing logistics and military support to a Saudi Arabia-led military coalition in Yemen’s civil war, as well as billions of dollars in weapons sales. Last week, the State Department announced it was pausing and reviewing arms sales to the Saudis, as well as to the United Arab Emirates.

Via LA Times

Last month soon after taking office the Biden administration announced a “pause” on Trump-era arms transfers to the Saudi-UEA coalition, including Lockheed Martin produced F-35 stealth fighters.

US involvement in the war goes all the way back to March 2015, when then President Barack Obama authorized US forces to join the Saudis executing the war, namely through logistical and intelligence support, which also later became major weapons sales.

6.Global Issues

CORONAVIRUS UPDATE/VACCINE UPDATE

(ZEROHEDGE)

Global COVID Vaccinations Pass Confirmed Cases As Wealthy Countries Lead The Way

WEDNESDAY, FEB 03, 2021 – 20:50

As EU regulators push back against approving the Russian Gameleya Institute vaccine even after Hungary already kicked the doors open by becoming the first member of the block to approve it last week, Brussels is caught between a rock and a hard place. Even CNBC’s Jim Cramer, a long-time booster for western COVID vaccines, acknowledged during Wednesday morning’s premarket show that western consumers must accept that the Russian jab works.

Why? Because despite all the propaganda against the Gamaleya Institute, the Russian jab, first developed with the backing of the Russian sovereign wealth fund, has basically been proven effective by the latest report in the deeply respected Lancet, a scientific journal based in the UK that published some of the first international research on COVID-19.

Now, just days after the number of vaccinated patients in the US surpassed the total number of confirmed COVID casesJohns Hopkins and other repositories of COVID data have announced that the world has reached a similar record.

As the following chart shows, the number of patients who have received at least one doses has surpassed total confirmed patients by roughly 500K patients.

And the trend is likely to continue, even if the AstraZeneca-Oxford jab has been only warily embraced by Western Europe, while the Russian jab has been almost entirely blackballed, since new cases have been falling around the world. Even in India, which – as many might remember was one of the worst hit countries last fall – cases are falling to levels not seen since last fall.

Hospitalizations have also declined substantially around the world.

The FT doesn’t shy away from pointing out the fact that the figures are incomplete due to the fragmented nature of COVID case reporting. The true number of infections is likely to be many times higher than the total verified by diagnostic tests, since many are bound to have slipped through the cracks.

However, on the other hand, the WHO recently admitted that high-cycle PCR tests have produced numerous false positives.

Michael Head, global health research fellow at Southampton university, said: “The fact that we have so many vaccines is a huge good news story which has been fed to us in bits and pieces. This moment brings it together, showing how fast we have moved and far we have come.”

In another chart, the FT shows how the rich country/poor country divide that the WHO warned about has most definitely emerged around the world.

Source: FT

Given this latest piece of evidence, wouldn’t be surprised to hear or see WHO head Dr. Tedros Adhanom tweeting more warnings, alongside his good buddy, Bill Gates, that the West needs to throw more money at the WHO’s Covax international vaccination program.

END
Not good: scientists are warning that the COVID is reducing fertility.
(Watson Summit News)

Scientists Ominously Warn COVID Is Reducing Fertility

THURSDAY, FEB 04, 2021 – 3:30

Authored by Steve Watson via Summit News,

Just when you thought the future couldn’t get much more dystopian, scientists have issued more stark warnings that COVID-19 is reducing fertility in men, and could contribute to depopulation of the planet.

Scientists say that there is increasing evidence in patients of testicular damage and lower sperm counts and mobility, with initial studies revealing the presence of the virus in semen samples.

Researchers at the Justus-Liebig-University in Germany. along with scientists from Allameh Tabataba’i University in Iran have reported  significant inflammation markers in samples of testicular tissue from 84 Covid-19 patients.

They discovered that the inflammation and cellular stress were twice as severe in the Covid-19 positive group as in a control group.

Researchers also noted that sperm was three times slower in COVID patients, and sperm count in general was much lower.

The study found that sperm concentration was reduced by 516 per cent, mobility by 209 per cent and sperm cell shape was altered by 400 per cent.

The researchers further noted that this represents oligoasthenoteratozoospermia, one of the most common causes of subfertility in men.

“These effects on sperm cells are associated with lower sperm quality and reduced fertility potential,” noted lead researcher Behzad Hajizadeh Maleki.

“Although these effects tended to improve over time, they remained significantly and abnormally higher in the Covid-19 patients, and the magnitude of these changes were also related to disease severity,” Maleki further warned.

In addition, Researchers from the Huazhong University of Science and Technology in Wuhan (yes, that Wuhan) have issued a call for a long term study into the effects of the virus on male fertility.

“We propose that there is an urgent need to track male Covid-19 patients during their recovery,” microbiologist Yu Tian and reproductive biologist Li-quan Zhou noted.

Previous studies have pointed toward a correlation between the virus and reduced fertility.

Last year a Miami University study found that COVID-19 can invade tissues in the testicles and  impair sperm function.

In January a review of studies published in the journal Open Biology warned that COVID posses a “global threat to male fertility potential.”

Spanish scientists have also reported worrying signs of the virus attacking male reproductive organs.

Research conducted by Professor Dan Aderka of the Sheba Medical Centre in Tel Aviv, Israel, reported that the virus was present in 13 percent of sperm samples taken from screened COVID-19 patients. He also found a 50 percent reduction in sperm volume, concentration, and motility in patients with moderate symptoms 30 days post diagnosis.

Another study conducted last year by researchers in Shangqiu, China discovered the presence of the virus in sperm, raising concerns that it could be sexually transmitted.

The list of studies linking the virus to potential infertility is endless.

Global fertility rates were already decreasing before COVID at a “jaw dropping” rate, with one study published in The Lancet highlighting that the global fertility rate almost halved to 2.4 in 2017, and projections indicate that it will fall below 1.7 by 2100.

Other studies have noted that the “Total sperm count in North America, Europe, Australia and New Zealand dropped by up to 60% in the 38 years between 1973 and 2011” and more recent research shows the trend is continuing.

In addition, it is projected that the fall out of COVID will lead to a huge decline in the birth rate as people simply choose not to bring children into the world at this time.

END

CORONAVIRUS UPDATE/USA/GLOBE

US Cases, Deaths Set To Keep Falling; 20% Of Indians Infected With COVID: Live Updates

THURSDAY, FEB 04, 2021 – 10:41

Summary:

  • COVID cases top 104MMM globally
  • US cases, deaths trend lower
  • Chancellor Sunak accuses UK advisors of moving goalposts on lockdown
  • China’s Sinovac seeks general use approval
  • 20%+ of Indians have had COVID
  • Tokyo new cases fall
  • Netherlands, Czech Republic top 1MM cases
  • Chicago schools delay reopening

* * *

COVID vaccinations reached an important global milestone yesterday, with the number of patients who have received at least one dose topping the number of confirmed cases globally yesterday as rich countries in the West lead the way (along with Israel). But it wasn’t the only milestone reached overnight. Both the Netherlands and the Czech Republic have joined the list of nearly two dozen or so countries who have topped 1MM COVID cases, with the tiny Czech Republic by far the smallest of these. Global deaths rose day over day yesterday, adding 15.7K to the death toll and bringing it to 2.27MM, but the overall trend remains lower. Cases also rose globally day over day, up 522K yesterday to top 104MM, though they remain in a downtrend, along with hospitalizations.

In the US, new cases dropped below 120K yesterday, coming in at 117K, while deaths came in at just above 3K, while hospitalizations also declined.

Using a time-lag case-fatality rate, COVID cases and deaths are expected to continue declining in the US; with any luck, the national daily percent positive (of total tests, said to be a key metric in measuring actual spread of the virus) might be below 5% for the first time since October by the end of the month.

In other news,  British government scientists warned yesterday that society won’t be “back to normal” until the end of summer, once every person over the age of 50 has been vaccinated. The news came as PM Boris Johnson confirmed that the UK government had succeeded in vaccinating one in five British adults. In response to the upsetting news, which preceded this morning’s announcement of looming negative rates by the Bank of England, Chancellor Rishi Sunak questioned whether the government’s scientist advisors were once again moving the goal posts, and moving the focus from “protecting the NHS” to getting case numbers to rock bottom levels.

On the vaccine front, AstraZeneca and Oxford announced that they would soon begin a trial featuring other jabs, like the Moderna and Pfizer jabs, that will examine whether thee can be “greater flexibility” in how they are distributed. In China, Sinovac, one of the Chinese COVID-19 vaccine makers whose shot has already been approved for use in Brazil, Chile and Indonesia, as well as emergency use in mainland China, is applying for general use approval in China. While that “green light” is almost assured, it would make the vaccine one of the first in the world approved for non-emergency use (though this phrase has become something of a technicality). The company’s shot is called CoronaVac. Sinovac said in a statement released Thursday that its vaccines were safe for the elderly.

The Swiss government said on Wednesday it had signed an agreement with German pharmaceuticals company CureVac and the Swedish government for the delivery of 5M vaccine doses from the European vaccine maker, the news comes the same day its drugs regulator declined to approve the AstraZeneca jab-Oxford jab. Australia, meanwhile, has secured an additional 10M doses of the Pfizer-BioNTech vaccine and is on track to begin its vaccine roll-out towards the end of February.

Here’s some more news from overnight:

  • As case numbers continue to fall more quickly than anybody can explain in India, data show already nearly a quarter (21%+) of India’s 1.3BN people have had Covid-19, according to the latest sero-prevalence study, indicating a large proportion remain vulnerable to the virus.
  • Taiwan will get a share of 1.3 million COVID-19 vaccine shots produced by AstraZeneca from the COVAX global vaccine programme, the government says, but without providing a timeframe or further details.
  • In an exclusive interview with Nikkei Asia, John Coates, a vice president of the International Olympic Committee, says the Tokyo Games will “100%” go ahead this summer (Source: Bloomberg).
  • Tokyo reports 734 new infections, up from 676 a day earlier. The figure marked the seventh consecutive day for the capital to log fewer than 1,000 under the state of emergency, which was just recently extended (Source: Nikkei).
  • China reports 30 new cases on Wednesday, up from 25 a day earlier but still well below the peaks seen at the height of the latest wave last month. Of the new cases, 17 were locally transmitted infections.
  • Iran reported 7,040 cases and 67 deaths overnight, marking the lowest number of new daily fatalities since June 5.
  • Sweden is joining the list of countries rolling out a “digital vaccination certificate” – aka an “immunity passport” – and has asked three government agencies to develop the infrastructure to handle the relevant personal data.

* * *

Back in the US, Chicago Public Schools again delayed a scheduled return to in-person classes after school officials and the teachers’ union failed to reach an agreement on safely opening. President Biden is pushing to resume in-person learning in his first 100 days, but teachers’ unions and districts are at odds over how to do so safely.

7. OIL ISSUES

end

8 EMERGING MARKET ISSUES

Your early morning currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings THURSDAY morning 7:00 AM….

Euro/USA 1.1987 DOWN .0054 REACTING TO MERKEL’S FAILED COALITION/ REACTING TO +GERMAN ELECTION WHERE ALT RIGHT PARTY ENTERS THE BUNDESTAG/ huge Deutsche bank problems ///ITALIAN CHAOS//CORONAVIRUS/PANDEMIC/TRUMP POSITIVE WITH VIRUS /AND NOW ECB TAPERING BOND PURCHASES/JAPAN TAPERING BOND PURCHASES /USA RISING INTEREST RATES /FLOODING/EUROPE BOURSES MOSTLY GREEN EXCEPT LONDON

USA/JAPAN YEN 105.28 UP 0.283 (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 1.3639   DOWN   0.0009  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2814 UP .0029 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  THURSDAY morning in Europe, the Euro FELL BY 54 basis points, trading now ABOVE the important 1.08 level FALLING to 1.1987 Last night Shanghai COMPOSITE DOWN 15.45 PTS OR .44% 

//Hang Sang CLOSED CLOSED DOWN 304.55 PTS OR 1.06 PTS  

/AUSTRALIA CLOSED DOWN 0,75%// EUROPEAN BOURSES MOSTLY GREEN EXCEPT LONDON

Trading from Europe and Asia

EUROPEAN BOURSES MOSTLY GREEN EXCEPT LONDON

2/ CHINESE BOURSES / :Hang Sang CLOSED DOWN 304.55 PTS OR 1.06% 

/SHANGHAI CLOSED DOWN 15.45 PTS OR .44% 

Australia BOURSE CLOSED DOWN 0.75% 

Nikkei (Japan) CLOSED DOWN 193.96  POINTS OR 0.66%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1816.50

silver:$26.50-

Early THURSDAY morning USA 10 year bond yield: 1.14% !!! UP 1 IN POINTS from WEDNESDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.928 UP 1  IN BASIS POINTS from WEDNESDAY night.

USA dollar index early THURSDAY morning: 91.41 UP 24 CENT(S) from  WEDNESDAY’s close.

This ends early morning numbers THURSDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  THURSDAY NUMBERS \1: 00 PM

Portuguese 10 year bond yield: 0.06% DOWN 0 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.06.%  DOWN 0   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.13%//DOWN 0 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:0.55 DOWN 4 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 42 points higher than Spain.

GERMAN 10 YR BOND YIELD: RISES TO –.45% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.00% AND NOW ABOVE THE  THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR THURSDAY

Closing currency crosses for THURSDAY night/USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM

Euro/USA 1.1972  DOWN     .0069 or 69 basis points

USA/Japan: 105.45 DOWN .453 OR YEN UP 45  basis points/

Great Britain/USA 1.36607 DOWN .0011 POUND DOWN 11  BASIS POINTS)

Canadian dollar DOWN 51 basis points to 1.2836

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed DOWN AT 6.4718    ON SHORE  (DOWN)..

THE USA/YUAN OFFSHORE:  6.4735  (YUAN DOWN)..

TURKISH LIRA:  7.12  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.06%

Your closing 10 yr US bond yield UP 0 IN basis points from THURSDAY at 1.138 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.930 UP 0 in basis points on the day

Your closing USA dollar index, 91.48 UP 33  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 THURSDAY: 12:00 PM

London: CLOSED DOWN 4.10  0.06%

German Dax :  CLOSED UP 126.66 POINTS OR .91%

Paris Cac CLOSED UP 45.49 POINTS 0.82%

Spain IBEX CLOSED UP 101.10 POINTS or 1.26%

Italian MIB: CLOSED UP 372.65 POINTS OR 1.65%

WTI Oil price; 55.75 12:00  PM  EST

Brent Oil: 58.60 12:00 EST

USA /RUSSIAN /   RUBLE RISES:    75.67  THE CROSS LOWER BY 0.14 RUBLES/DOLLAR (RUBLE HIGHER BY 14 BASIS PTS)

TODAY THE GERMAN YIELD RISES  TO –.45 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 f0r Oil, 4:00 pm/and 10 year USA interest rate:

WTI CRUDE OILPRICE 4:30 PM :  56.03//

BRENT :  58.88

USA 10 YR BOND YIELD: … 1.143..up 0 basis points…

USA 30 YR BOND YIELD: 1.934 up 0 basis points..

EURO/USA 1.1966 ( DOWN 75   BASIS POINTS)

USA/JAPANESE YEN:105.55 UP .550 (YEN DOWN 55 BASIS POINTS/..

USA DOLLAR INDEX: 91.53 UP 36 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3673 UP 24  POINTS

the Turkish lira close: 7.14

the Russian rouble 75.48   UP 0.34 Roubles against the uSA dollar. (UP 34 BASIS POINTS)

Canadian dollar:  1.2828 DOWN 44 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.47%

The Dow closed UP 332.53 POINTS OR 1.08%

NASDAQ closed UP 142.97 POINTS OR 1.81%


VOLATILITY INDEX:  21.89 CLOSED DOWN 1.02

LIBOR 3 MONTH DURATION: 0.195%//libor dropping like a stone

USA trading today in Graph Form

Redditors Abandon Squeezes, Panic-Buy Penny-Stocks As USD Hits 2-Mo Highs

THURSDAY, FEB 04, 2021 – 16:00

As ‘most-shorted’ stocks faded, the ‘most-illiquid’ stocks are suddenly bid…

Source: Bloomberg

Since the election, US Micro-Caps are up over 50% – the 3rd such screaming rally since 2009…

Source: Bloomberg

GME was clubbed like a baby seal today, now down around 90% from its record highs…

Maybe time for some Redditors to watch Trading Places…

Small Caps exploded higher today with some rotation out of Nasdaq around the open (and the opposite in the last hour). But as is clear, Small Caps massively outperformed the rest…

The S&P 500 is back at its highs after testing the 50DMA…

Non-profitable tech stocks were bid to new record highs…

Source: Bloomberg

The Value/Growth rotation has stalled again and the 1.69x Russell 1000 Growth/Value level remains key to the downside…

Source: Bloomberg

Momo is starting to fade again…

Source: Bloomberg

VIX crashed back to a 21 handle intraday – some have suggested this is the biggest 3-day drop in VIX ever… it’s not, but it is an impressive reversal…

Treasury yields ended the day unchanged

Source: Bloomberg

10Y yield tagged 1.16% intraday today before fading back to unch (and remember the corporate calendar has been very heavy)…

Source: Bloomberg

The US Yield curve continues to steepen dramatically, now at its steepest (in 5s30s) since Oct 2015…

Source: Bloomberg

And elsewhere in bond-land, Italian bonds rallied on investor bets that former European Central Bank Governor Mario Draghi will be able to form a government to navigate the coronavirus crisis and manage funds coming from the European Union. The yield gap between Italian debt and bunds narrowed to the smallest in five years, falling below 100 basis points for the first time since 2016.

Source: Bloomberg

Real yields have been stable, but near record lows, as gold has faded…

Source: Bloomberg

The dollar rallied significantly today (up 4 of the last 5 days) back to its strongest since 12/1/20…

Source: Bloomberg

Ethereum dropped and popped, back to a new record closing high (if it closed)…

Source: Bloomberg

Cryptos chopped around, bouncing back in the afternoon on headlines that PTJ and LL Cool J are starting a crypto fund.

Source: Bloomberg

ETH is now at its strongest vs BTC since Aug 2018…

Source: Bloomberg

Gold futures tumbled back below $1800…

Silver was also slammed, erasing much of the Reddit Raid’s gains, but, unlike gold, remains just above the pre-Vaccine highs…

Finally, just in case you didn’t notice, US Productivity collapsed in Q4 – the biggest quarterly drop since 1981

Source: Bloomberg

a)Market trading/LAST NIGHT this morning/USA

Micro-Caps Are Soaring As GameStop Collapses

THURSDAY, FEB 04, 2021 – 11:20

GameStop is now down almost 90% from its record highs last week as Reddittors run for the hills…

From Jan 21st close, when the moves started hitting the heavily-shorted stocks, KOSS is still up 500% (was up over 4500% last week), AMC +150%, and even GME up over 50% (but they are all drastically down from their highs)

And as the heavily-shorted stocks collapse, micro-cap US equities are surging…

As are Small Caps…

Another ‘great’ rotation?

b)MARKET TRADING/USA//Non farm payrolls

ii)Market data/USA

Jobless claims still very high

(zerohedge)

“Only” 779,000 Americans Filed For First-Time Jobless Benefits Last Week

THURSDAY, FEB 04, 2021 – 8:36

While the recent trend in initial jobless claims has been weak ahead of tomorrow’s payrolls data, last week saw a modest improvement with the number of Americans filing for jobless benefits for the first time at 779k (better than the 830k expected)

Source: Bloomberg

Meanwhile, as traditional continuing claims improve visually (Americans dropping off the rolls), those claiming Pandemic Aid remain high (though dipped in the prior week)…

Source: Bloomberg

And the overall number of Americans claiming some form of jobless benefit remains extremely high…

Source: Bloomberg

This is the 3rd weekly improvement in a row, but remember these numbers are around 4x the pre-COVID norms.

END

US Factory Orders Surge In December, Back To Pre-COVID Levels

THURSDAY, FEB 04, 2021 – 10:05

US Factory Orders were expected to rise for the 8th straight month in December and they did , outperforming expectations with a 1.1% MoM jump (+0.7% exp) and November was revised higher from +1.0% MoM to +1.3% MoM…

Source: Bloomberg

However, as the chart above shows, the YoY growth faded back to -0.8%.

And overall, US factory orders are rapidly catching up to pre-COVID levels…

Source: Bloomberg

It took 4 years to recover from the 2008 plunge in production. The 2020 drop took 8 months!

So, presumably we don’t need another $2 trillion in “stimulus”, right?

END

Read The Details Of Biden’s Plan For $1,400 (Not $2,000) Stimulus Checks

THURSDAY, FEB 04, 2021 – 10:18

Details of the latest stimulus proposal from President Biden and Democratic lawmakers have finally been released, which, given the massive gulf between Biden’s $1.9 trillion and the GOP’s $618 billion packages, means that this third round of pandemic relief is likely to undergo some significant changes before all is said and done.

The latest proposal from Democrats would send $1,400 checks to individuals earning $50,000 or less, and $2,800 to married couples earning $100,000 or less, according to the Washington Post. This, of course, is far less than Democrats thought they were voting for when then-candidate Biden told them $2,000 checks would go out “immediately.”

  • Heads of houshold earning up to $75,000 would also qualify for the $1,400 stimulus
  • Approximately 71% of Americans would receive the ‘full’ $1,400 payments, while another 17% would receive a partial benefit.
  • This is less than Biden’s initial proposal which would have sent full payments to anyone earning up to $75,000 and married couples earning up to $150,000 – which would have resulted in 85% of recipients with full payments.
  • Parents of children would also receive an additional $1,400 per child – which would leave a family of four with $5,600. On top of this, Democrats are pushing for a child tax benefit which would provide $3,600 per child under 6 and $3,000 per child aged 6 to 17.
  • Eligibility will likely be based on the prior year’s income, meaning people would need to qualify for the checks based on what they made in 2019 or 2020, according to the report.

Payments will go out once Congress passes its broad relief package – so who knows when. White House officials are hopeful that legislation will pass by mid-March, when unemployment benefits will lapse for millions of jobless Americans (unless Congress acts to prevent this). Once lawmakers finally get their act together, payments would likely go out in a matter of days.

The Post notes, however, that if the deal is reached during tax filing season (mid-February through mid-April), there could be delays, as the IRS is the agency which handles sending out the payments.

The cost of the plan for just the $1,400 stimulus payments for singles earning up to $50,000 and couples earning up to $100,000 would be approximately $420 billion, according to Marc Goldwein, senior policy director for the Committee for a Responsible Federal Budget. Biden’s original plan would have cost around $465 billion.

Illustratioon: Eniola Odetunde (via Axios)

As JPMorgan notes, “the size of the package matters,” in that the larger the stimulus, the more the reflation theme takes hold. “Keys to watch are bond yields (both velocity of move and magnitude of move) and USD levels.” A sudden spike in bond yields and/or strong USD rally would present the most probable macro risks to US equities, notwithstanding geopolitical developments.

Adult dependents will also be eligible for stimulus payments under the Democrats’ current plan. Previously, those over the age of 17 who could be claimed as a dependent on someone else’s return – including college students and disabled adults – were not eligible for stimulus payments – which excluded approximately 13.5 million people last time around, according to left-leaning think tank, the People’s Policy Project.

Will it make a difference?

According to the University of Pennsylvania’s Penn Wharton Budget Model, 73% of the $1,400 payments will “go directly into household savings and produce limited stimulus effects.” The White House, however, says there will be a large, positive impact from the payments.

The best argument in favor of the checks is that they have kept many Americans out of poverty during the crisis. An analysis by the left-leaning Institute on Taxation and Economic Policy found the bottom 20 percent of Americans — those earning less than $21,300 — would see their income rise nearly 30 percent, helping keep them out of poverty. Washington Post

According to Economists at Opportunity Insights, people with incomes under $46,000 spent the $600 stimulus quickly, while those earning $78,000 or more were likely to save it.

Opportunity Insights co-directors Raj Chetty and John Friedman have argued strongly for limiting a third round of stimulus payments to individuals earning under $50,000 and couples earning less than $75,000. They say the need is by far the greatest among these modest-income families and the economic boost will be much larger if the money goes to lower-income families because they are likely to spend it right away. The latest Democratic proposal moves in that direction, although it is more generous to couples.

We can’t help but wonder how much of the upcoming stimulus will go towards the next WallStreetBets short squeeze?

END

Democrat House Working on 2021 Fiscal Year Spending Bill of Nearly $6 Trillion Leaving a Deficit of $4 Trillion

Share to GabPShare

The foxes are in the hen house.

The Democrat House is working on a spending bill for fiscal year 2021. (This 12 month period started on October 1, 2020.) This behemoth of a bill calls for a budget of more than $6 trillion:

The only way  the DC politicians can get there is to end up with a deficit of nearly $4 trillion:

It’s very clear these people have no regard for our country’s future or our children.  These people only want power and money for themselves.

END

This is a very important data point:  USA productivity falls 4.8% in the 4th quarter: it’s largest drop since 1981

U.S. productivity falls 4.8% in the 4th quarter to mark biggest drop since 1981

Feb. 4, 2021 at 9:12 a.m. ET

MarketWatch

The productivity of American workers fell by 4.8% in the fourth quarter — the biggest decline in 39 years — as the coronavirus cast another dark shadow over the economy.

The decline in productivity in the final three months of 2020 capped off a chaotic year. Although productivity rose by 2.6% last year, it only did so because hours worked fell even faster than output.

Output, or the amount of goods and services produced, slid 4.2% in 2020. Hours worked sank by an even larger 6.6%.

Productivity is determined by the difference between output and hours worked.

Last year the pandemic destroyed millions of jobs and disrupted every walk of life, making it hard to take at face value the normal measures of the economy such as productivity. Analysts say it will take awhile for the economy to regain some sense of normalcy and render productivity data useful again.

In the fourth quarter, companies increased output by 5.3%, but hours worked tumbled at an annual 10.7% pace. Both are extremely high.

As a result, unit-labor costs jumped by a 6.8% annual pace in the fourth quarter. They rose by 4.3% for the full year, another extremely high number that reflects the distortions caused by the pandemic.

-END-

iii) Important USA Economic Stories

AMERICAN AIRLINES

American Airlines are now running out of bailout funds.  They warn that it will cut another 13,000 jobs.

(zerohedge)

American Airlines Warns It Will Cut Another 13,000 Jobs As It Burns Through Latest Bailout In Just One Month

WEDNESDAY, FEB 03, 2021 – 17:34

If you thought that in exchange for the billions in taxpayer funds that Congress gave to the largest US commercial airlines, these same companies would put layoffs on hold for at least a few months, you’d be wrong, because in a letter from American Airliens CEO Doug Parker, the largest US carrier warned that starting this Friday, the company which has now received two rounds of bailouts, will begin issuing aptly titled “Worker Adjustment and Retraining Notification” (WARN) notices covering approximately 13,000 team members. As a reminder, WARN notices may be required by law in advance of potential furloughs in certain locations, and while American is quick to note that “these notices do not necessarily equate to furloughs” the reality is that another 13,000 American airlines are about the be let off.

Why the sudden reversal from the company which in December was so giddy about the bright future, it had to wear shades? Because as it lays out in the letter “we are nearly five weeks into 2021, and unfortunately, we find ourselves in a situation similar to much of 2020. As we closed out last year with the successful extension of the Payroll Support Program (PSP), we fully believed that we would be looking at a summer schedule where we’d fly all of our airplanes and need the full strength of our team. Regrettably, that is no longer the case. The vaccine is not being distributed as quickly as any of us believed, and new restrictions on international travel that require customers to have a negative COVID-19 test have dampened demand.”

Translation: “we need another few billion in PPP aid, because we already burned through the money we received just two months ago.”

The full letter (filed as an 8-K) is here:

Fellow team members,

We are nearly five weeks into 2021, and unfortunately, we find ourselves in a situation similar to much of 2020. As we closed out last year with the successful extension of the Payroll Support Program (PSP), we fully believed that we would be looking at a summer schedule where we’d fly all of our airplanes and need the full strength of our team. Regrettably, that is no longer the case. The vaccine is not being distributed as quickly as any of us believed, and new restrictions on international travel that require customers to have a negative COVID-19 test have dampened demand.

We will fly at least 45% less in the first quarter compared to what we flew for the same period in 2019, and based on current demand outlook, we will not fly all of our aircraft this summer as planned. Consequently, like last fall, we will have more team members than the schedule requires after federal payroll support expires April 1.

On Friday, we will begin issuing Worker Adjustment and Retraining Notification (WARN) notices covering approximately 13,000 team members. As a reminder, WARN notices may be required by law in advance of potential furloughs in certain locations, but it’s important to note that these notices do not necessarily equate to furloughs.

Of course, this is not where we want to be, and we will work with union leadership to do everything we can to mitigate job impact as much as possible.

First, you may have seen that our union partners are urging Congress for an extension of the PSP through Sept. 30 of this year. We are fully behind our union leaders’ efforts to fight for an extension and we will lend our time and energy to support this effort in every way we can. Our nation’s leaders understand the vital role airline workers play in keeping the country moving. They showed their support last year and we will encourage them to do the same again as the pandemic continues around the world.

Secondly, on Friday we will open a voluntary early out program (VEOP) and a long-term voluntary leave of absence (VLOA) program for frontline, U.S.-based team members, excluding pilots. The benefits offered through these programs have not changed from last summer, but given where we are in our recovery, these programs may make more sense for some of our team members today than they did previously.

Here’s a high-level overview of the programs, and you can find full details on Jetnet. The application window will open on Friday morning.

  • Early out program for team members with 10 or more years of workgroup seniority: An early out offering for team members with at least 10 years of workgroup seniority. This program includes up to $150,000 in a Retiree Health Reimbursement Arrangement for 65-point plan retirement-eligible team members, as well as some positive space travel.
  • Early out program for team members with less than 10 years of workgroup seniority: An early out offering for team members who have less than 10 years of workgroup seniority. This program will provide continuation of active medical coverage and non-rev travel privileges for a period of time.
  • Extended leave program: Extended leaves of 12 or 18 months that provide continued medical coverage at active rates, continued non-rev travel privileges and partial pay.

Obviously, issuing these required WARN notices isn’t a step we want to take. Tens of thousands of our colleagues have faced extreme uncertainty about their job security over the past 12 months, and that’s on top of the emotional stress all of our team has faced during an incredibly difficult year.

Please know that we will get through this period and to more stable ground — that is certain. And, we will continue to fight in every way possible to get there as soon as we can. Until demand returns and we can provide permanent job stability, we owe you transparency. That is what we can offer today and what we will continue to provide. Thank you for all you continue to do for each other, our customers and our airline.

Doug/Robert

American’s announcement is shocking because as CNBC reminds us, “the latest $15 billion Congress approved for U.S. carriers late last year required airlines to recall the employees they furloughed in the fall and maintain payroll through March 31. It was the second round of Covid aid for the industry; Congress gave airlines $25 billion last March to keep them from cutting employees through the fall.”

However, as so many correctly said, the money would last at most for a month before American would come crawling back for more… and to think of all the billions spent on buybacks in the past decade.

American’s announcement follows just days after US airline CEOs reporting record annual losses of $34 billion, and warned they didn’t expect a strong rebound in air travel in the near future.

American’s CEO Doug Parker told staff last week that the carrier is still overstaffed for current demand projections and that there could be furloughs.

“I don’t want anybody to be surprised if the company issues WARN notices in the near future,” Parker said in a town hall with staff last week, audio of which was reviewed by CNBC. He said the company will work with labor unions to reduce furloughs through voluntary measures.

And in a world where everyone is now habituated to receiving a taxpayer-funded bailout every month, airline labor unions are now seeking $15 billion more in federal payroll support for the industry to keep jobs through Sept. 30. They will probably get it… and then another… and another.

end
McCarthy stands by Rep Greene
(zerohedge)

McCarthy Stands By ‘QAnon-Supporting’ Rep. Greene As Democrats Prepare To Strip Committee Assignments

WEDNESDAY, FEB 03, 2021 – 18:50

House Minority Leader Kevin McCarthy (R-CA) announced in a Wednesday caucus meeting that while he condemns controversial statements espoused by QAnon-supporting Rep. Marjorie Greene (R-GA), he doesn’t believe she should loser her committee assignments. 

Past comments from and endorsed by Marjorie Taylor Greene on school shootings, political violence, and anti-Semitic conspiracy theories do not represent the values or beliefs of the House Republican Conference,” said McCarthy in a statement following the meeting. “I condemn those comments unequivocally. I condemned them in the past. I continue to condemn them today. This House condemned QAnon last Congress and continues to do so today.”

McCarthy, who met with Greene on Tuesday, added:

“I made this clear to Marjorie when we met. I also made clear that as a member of Congress we have a responsibility to hold ourselves to a higher standard than how she presented herself as a private citizen. Her past comments now have much greater meaning. Marjorie recognized this in our conversation. I hold her to her word, as well as her actions going forward.”

Democrats, meanwhile, are gearing up for a floor vote to strip Greene her of her posts due to her beliefs.

I spoke to Leader McCarthy this morning, and it is clear there is no alternative to holding a Floor vote on the resolution to remove Rep. Greene from her committee assignments,” said House Majority Leader Steny Hoyer (R-MD), who rejected a deal from McCarthy to remove Greene from the Education and Labor Committee but allow her to remain on the House Budget panel. “The Rules Committee will meet this afternoon, and the House will vote on the resolution tomorrow.”

Democrats were perhaps emboldened to take action against Greene after Senate Minority Leader Mitch McConnell threw her under the bus, saying in a statement that: “Loony lies and conspiracy theories are cancer for the Republican Party and our country.”

McCarthy also announced that he supports keeping Rep. Liz Cheney in her leadership role – risking alienation from both establishment anti-Greene Republicans and MAGA anti-Cheney Republicans

end

Americans are buying guns at a blistering pace according to the FBI. Biden is introducing legislation to take away those guns.

(Stieber/EpochTimes)

Americans Are Buying Guns At “Blistering Pace”, FBI Data Shows

WEDNESDAY, FEB 03, 2021 – 21:50

Authored by Zachary Stieber via The Epoch Times,

Newly released background check data from January shows Americans are buying guns at a “blistering pace,” a firearms expert said.

“That’s undoubtedly connected to President Joe Biden’s plans to attack the firearm industry by undoing and rewriting regulations and executive actions to target the firearm industry,” Mark Olivia, director of public affairs at the National Shooting Sports Foundation, said in a statement.

Olivia pointed to the Biden administration freezing the publication of the Office of the Comptroller of the Currency’s “Fair Access” banking rule, and promises to try and repeal the Protection of Lawful Commerce in Arms Act to tighten restrictions on gun licenses, and to ban AR-15 style rifles.

The White House didn’t respond to a request for comment.

According to the FBI’s National Instant Criminal Background Check (NCIS) data, 4.3 million firearm background checks were initiated in January. That’s the highest number on record, and up over 300,000 in comparison to December 2020. Three of the top 10 highest weeks are now from January 2021.

The National Shooting Sports Foundation’s adjusted background check figure of 2 million, reached by subtracting out background code permit checks and permit rechecks and checks on active concealed carry permits, was a jump from its adjusted figure of 1.1 million in January 2020.

“These are jaw-dropping figures to start the New Year. Americans are claiming their Second Amendment rights to provide for their own safety in record numbers,” Olivia said.

Jurgen Brauer, the chief economist for Small Arms Analytics, said in a statement that the new year “certainly started off with a sales ‘bang’ due to the turmoil surrounding the confirmation and inauguration of Mr. Biden as the new U.S. president.”

“The 79 percent year-over-year increase, however, was NOT unprecedented—an even higher increase, of just over 100 percent, was experienced in January 2013, the month Mr. Obama’s second presidential term began,” he added.

Everytown for Gun Safety said the continued increase in background checks highlights the need for Congress and Biden to implement gun restrictions.

“As the country reels from multiple crises, the gun industry has cashed in with record sales that have made Americans less safe,” Nick Suplina, managing director of law and policy for the group, said in a statement.

“Without swift changes in policy, our already devastating gun violence epidemic could get even deadlier. The good news, though, is that we finally have leaders in the White House and in both chambers of Congress who recognize that this crisis demands action.”

end

We Got It! TGP to Release SMOKING GUN Video from TCF Center in Detroit!

As we previously reported, on November 3rd President Trump was ahead of Joe Biden in Michigan by over 100,000 votes.  The ballot counting in Detroit on election night took place at the TCF Center, formerly known as Cobo Hall.

This is the site where Detroit City Officials put cardboard over the windows to prevent the GOP observers from seeing in, where poll workers were militantly hostile to the GOP observers, and where hundreds of affidavits by election observers claim they witnessed voter fraud.

At least three election observers testified in sworn affidavits that they witnessed vehicles delivering fraudulent ballots to the TCF Center early in the morning on November 4th.

And until now, no one has bothered to review the video footage from the TCF Center on election night.

TRENDING: “We Really Did Have a Terrific Vote Tonight”- Trump-Hater Liz Cheney Gloats after GOP Lawmakers Vote 145-61 to Keep Her in Leadership Role (VIDEO)

The video can settle for once and for all:

  • How many people were in the TCF Center and is there any validity to the excuse that they were over the “COVID capacity” – the excuse they used to exclude the Republicans from watching vote processing
  • Why did so many Democrat poll workers bring in suitcases? Did they hide illegal ballots in them like their colleagues in Georgia?
  • Were the machines networked? Can we see the modem and the wires networking the tabulating machines as described by Patrick Colbeck?
  • Who brought in what at 3:30/4:00 am, were they ballots as the Republicans have said they witnessed or was it food/camera equipment as the media claimed? Shane Trejo and Jose Aliaga claim these were ballots.
  • Was there any security keeping people out of the building who did not have credentials to get in?
  • Were there other unexplained ballot dumps past the 8:00 PM deadline for ballots as several other witnesses have alleged?
  • Was Nick, the co-owner of Dominion Voting Services, present on-site, as Mellissa Carone has said?
  • Were GOP Poll Challengers being ejected for making good-faith challenges or were they refusing to wear a mask?

The Gateway Pundit requested the TCF video back in December!

The TCF Center tried to quote us over $22,000 for one day’s worth of video.

We requested two hours of video.

This week we were sent the requested video.

We have waited nearly two months for this video.

And after our initial review of the TCF security video, we can assure you — We have evidence of illicit and likely criminal activity and we have it on video.

We hope to release our first report of many on Friday.

END

This should be interesting: Smartmatic sues Fox News, Giuliani and Sidney Powell, Lou Dobbs, Judge Jeanine Pirro and Maria Bartiromo for 2.7 billion dollars over voting machine fraud claims

(zerohedge)

Smartmatic Sues Fox News, Giuliani And Powell For $2.7 Billion Over Voting Machine Fraud Claims

THURSDAY, FEB 04, 2021 – 14:03

First it was Dominion, now it’s Smartmatic’s turn.

Voting software company Smartmatic has filed a $2.7 billion libel suit against Fox News, three Fox hosts – Lou Dobbs, Maria Bartiromo and Jeanine Pirro – as well as lawyers Rudy Giulani and Sidney Powell over what the firm claims are knowingly false claims about former President Donald Trump’s election loss, CNBC reports. The lawsuit accuses the defendants of executing a coordinated disinformation campaign aimed at convincing the public of rampant election fraud.

“Without any true villain, Defendants invented one. Defendants decided to make Smartmatic the villain in their story,” says the 285-page suit filed in Manhattan Supreme Court.

The suit accuses the defendants of falsely saying or implying that Smartmatic’s election technology and software was comprised or hacked during the 2020 election, among other false claims.

Smartmatic scoffed at Trump’s claims that there was widespread fraud and manipulation of voting machines that led to an undercount of Trump votes and and overcount of ballots for Biden. The company’s attorneys said they have counted “dozens” of references to what they describe as the smear campaign on Fox News. That these claims were made repeatedly and echoed by the channel’s news staff is evidence that Fox News was actively plotting with Giuliani and Powell to disseminate the conspiracy, said Smartmatic’s attorney J. Erik Connolly.

The company maintains that its case is supported by its limited exposure to U.S. elections: Los Angeles County is its only current U.S. client. “That we were only used in one jurisdiction, and weren’t used in any closely contested states makes the disinformation campaign even more egregious and irresponsible,” said Connolly.

“The Earth is round,” Smartmatic’s lawyers wrote at the very beginning of the complaint.

“Two plus two equals four. Joe Biden and Kamala Harris won the 2020 election for President and Vice President of the United States,” the suit says. “The election was not stolen, rigged, or fixed. These are facts. They are demonstrable and irrefutable.”

“Defendants have always known these facts,” the suit says.

“But they also saw an opportunity to capitalize on President Trump’s popularity by inventing a story. Defendants decided to tell people that the election was stolen from President Trump and Vice President [Mike] Pence.”

As grounds for seeking almost $3 billion in damages, Smartmatic claims that existing and potential clients around the world are getting cold feet because of the bogus claims, and in some cases have described Smartmatic as “toxic,” said Chief Executive Officer Antonio Mugica, who declined to offer examples.

In a statement responding to the lawsuit, a Fox News Media spokesperson said, “Fox News Media is committed to providing the full context of every story with in-depth reporting and clear opinion” adding that “we are proud of our 2020 election coverage and will vigorously defend this meritless lawsuit in court.”

Smartmatic’s suit follows a pair of similar complaints filed by Dominion against Giuliani and Powell, accusing both of spreading bogus claims for self-promotion and a shot at salvaging a second term for Trump. The case against Giuliani alleges he promoted the election fraud conspiracy to hawk gold coins, cigars and supplements on a podcast. Powell is accused of leading the charge against Dominion by claiming foreign agents had infiltrated its voting software.

The full lawsuit is below:

16

iv) Swamp commentaries

Sickening!

(zerohedge)

Parler CEO Fired By ‘Rebekah-Mercer-Controlled Board’

WEDNESDAY, FEB 03, 2021 – 19:30

John Matze, CEO of beleaguered Twitter competitor Parler, has been fired by the board of directors amid a highly contentious period for the conservative-friendly platform.

(Photo by Jaap Arriens/NurPhoto via Getty Images)

“On January 29, 2021, the Parler board controlled by Rebekah Mercer decided to immediately terminate my position as CEO of Parler. I did not participate in this decision,” wrote Matze in a statement obtained by Fox Business. “I understand that those who now control the company have made some communications to employees and other third parties that have unfortunately created confusion and prompted me to make this public statement.”

Matze wrote that over the past few months he has been met with “constant resistance” to his original vision for the social media platform following Amazon Web Services’ decision to shut Parler down for failure to moderate “egregious content” related to the Jan. 6 Capitol riot. –Fox Business

Over the past few months, I’ve met constant resistance to my product vision, my strong belief in free speech and my view of how the Parler site should be managed. For example, I advocated for more product stability and what I believe is a more effective approach to content moderation,” Matze’s statement continues.

“I have worked endless hours and fought constant battles to get the Parler site running but at this point, the future of Parler is no longer in my hands,” he continued. “I want to thank the Parler employees, the people on Parler and Parler supporters for their tireless work and devotion to the company. They are an amazing group of diverse, hardworking and talented individuals and I have the utmost respect for them. Many of them have become my second family.”

After several Parler users were found to have been participants in the Jan. 6 ‘Capitol riot,’ the company was swept up in a cancel campaign – with Amazon Web Services and several other third-party service providers critical to the service dropped them as a client. Parler subsequently went offline, only to pop back up last week with several posts from Matze – calling for a “respectful conversation to improve our society” and detailing the company’s legal struggles in the wake of the Amazon decision.

Parler was also dropped from both Google and Apple’s app stores, and has yet to relaunch services.

According to Fox, Matze says he’ll spend a few weeks off before searching for a new venture.

“After that, I’ll be looking for new opportunities where my technical acumen, vision and the causes I am passionate about will be required and respected,” he wrote, adding “I want to thank all the people of Parler that supported me and the platform. This has been the true American Dream: an idea from a living room to a company of considerable value. I’m not saying goodbye, just so long for now.”

end
Seems that AOC lied about her near death experience on our Jan 6 “storming of the bastille”. She was not anywhere near the capitol during those riots.
(zerohedge)

‘#AlexandriaOcasioSmollett’ Trends On Twitter After NY Rep Rejects Claims She Wasn’t At Capitol During Riots

WEDNESDAY, FEB 03, 2021 – 19:50

UPDATEDouglass Braff reports that Rep. Alexandria Ocasio-Cortez hit back at claims she lied about her experience during the pro-Trump Capitol riots.

This is the latest manipulative take on the right. They are manipulating the fact that most people don’t know the layout the Capitol complex. We were all on the Capitol complex – the attack wasn’t just on the dome. The bombs Trump supporters planted surrounded our offices too,” she wrote.

Following reports that Rep. Alexandria Ocasio-Cortez‘s (D-N.Y.) was not in the U.S. Capitol Building and in her Cannon Office Building office on January 6, the hashtag “AlexandriaOcasioSmollett” has been trending on Twitter, with conservatives referencing disgraced actor Jussie Smollett’s staged hate crime in 2019.

Here are some popular tweets using the hashtag:

*  *  *

As Douglas Braff detailed earlier, via SaraACarter.com, Rep. Alexandria Ocasio-Cortez (D-N.Y.) was not in the U.S. Capitol Building when a mob violently stormed it on January 6 but rather in her Cannon Office Building office.

The second-term congresswoman has since recanted her experience during the deadly siege, which she has described as “near-death.”

However, no rioters broke into Cannon, a Wednesday report from the conservative publication RedState claims.

When running through her experience that day, Ocasio-Cortez said that—out of fear that rioters had entered the building—she hid in her personal room’s bathroom. During a Monday livestream, she claimed that rioters had entered her office, according to Newsweek.

She revealed on an Instagram Live session that she was a survivor of sexual assault and described the feeling she had while locking herself in the bathroom as similar to the one she felt at the time of the assault.

She also said that she was hiding behind the door “and then I just start to hear these yells of, ‘Where is she?’”

The yells, it turns out, came from a Capitol Police officer. He reportedly burst into her office, whose presence, she said, “didn’t feel right” and that he was looking at her “in all of this anger and hostility.” One of her staffers reportedly wondered if he would have to fight the officer.

Rep. Nancy Mace (R-S.C.), whose office is two doors down from the New York congresswoman’s, on Tuesday played down Ocasio-Cortez’s story, saying that the extremists never reached their hallway.

Ocasio-Cortez, Mace tweeted, “made clear she didn’t know who was at her door.

Breathless attempts by media to fan fictitious news flames are dangerous.  My office is 2 doors down. Insurrectionists never stormed our hallway. Egregious doesn’t even begin to cover it.  Is there nothing MSM won’t politicize?”

The day after Mace’s tweet, without mentioning Mace, Ocasio-Cortez tweeted:

“To survivors of any trauma who worry about being believed, or that their situation wasn’t ‘bad’ enough or ‘too’ bad, or fear being branded or deemed ‘manipulative’ for telling the truth: I see you. Community is here for you. You are safe with me, & with all of us. You are loved!”

When firing back at RedState‘s report in a thread, she said the right “are manipulating the fact that most people don’t know the layout the Capitol complex. We were all on the Capitol complex – the attack wasn’t just on the dome. The bombs Trump supporters planted surrounded our offices too.”

“People were trying to rush and infiltrate our office buildings – that’s why we had to get evacuated in the first place,” she continued. “The attempts of attackers & publicly available communications show how they tried to gain access and share location info on finding members for physical harm.”

“It is also very damning and revealing that the GOP is now digging both heels in a discrediting campaign,” the Bronx and Queens congresswoman added. “It’s because they know they are implicated, so they’re pivoting to (again) the classic abuse playbook of “it’s not as bad as they say.” It was that bad. It’s actually worse.”

end
House Democrats formally request Trump to testify. We highly doubt he will come
(zerohedge)

House Democrats Formally Request Trump Testify Under Oath During Impeachment Trial

THURSDAY, FEB 04, 2021 – 15:15

House Democrats have formally asked former President Trump to testify under oath during next week’s Senate impeachment trial, according to a Thursday report from the Associated Press.

The request was made in a letter from House impeachment managers, which suggests they intend to present “an aggressive case,” for which they have charged Trump with inciting a mob of supporters who stormed the Capitol on Jan. 6 (through an open door).

In the letter, Rep Jamie Raskin, one of the impeachment managers, asked that Trump provide testimony “either before or during the Senate impeachment trial,” and under cross examination, about his conduct on Jan. 6, as early as Monday and not later than next Thursday, Feb. 11.

Raskin said that Trump questioned critical facts in the case “notwithstanding the clear and overwhelming evidence of your constitutional offense.”

“In light of your disputing these factual allegations, I write to invite you to provide testimony under oath, either before or during the Senate impeachment trial, concerning your conduct on January 6, 2021,” Raskin wrote. –Associated Press

If Trump refuses to testify, they will use it against him in trial, according to Raskin, who noted that former presidents Gerald Ford and Bill Clinton provided testimony while in office, and that the Supreme Court has held that Trump is not immune from the legal process.

“If you decline this invitation, we reserve any and all rights, including the right to establish at trial that your refusal to testify supports a strong adverse inference regarding your actions (and inaction),” Raskin concluded.

Trump spox Jason Miller, meanwhile, doesn’t expect Trump to testify, but that if he did, the former President would ‘knock this thing out in about 15 minutes.’

Additionally, during an appearance Tuesday on Fox News’ “Hannity,” Sen. Lindsey Graham (R-SC) told host Sean Hannity that any Democratic attempt to bring in witnesses to discuss Trump’s alleged role in inciting the Capitol incursion of Jan. 6 would open up a chance for Republicans to bring up Harris’ own words regarding the much more destructive riots the country saw over the summer.

And that won’t play well with the sane half of the American people who voted for Trump in November.

“If you’re going to pursue this, and you want to start calling witnesses, and you want to drag this out, it would be fair to have Kamala Harris’ tape played where she bailed people out of jail,” Graham said.

“What more could you do to incite future violence than to pay the bail of the people who broke up the shops and beat up the cops?” he said.

“How is that not inciting future violence? Be careful what you wish for, my Democratic colleagues. Be careful what you wish for.”

end

v) King report/Courtesy of Chris Powell of GATA which includes the major swamp stories.

Treasury’s Yellen calls top regulator meeting on GameStop volatility, consults ethics lawyer

Yellen’s decision to seek the waiver followed a report here by Reuters that because of speaking fees she was paid by a key player in the GameStop saga, hedge fund Citadel LLC, she may need permission to deal with matters involving the firm.  A Treasury official, who declined to be identified by name, said the meeting would be held this week, possibly as early as Thursday…

   Yellen earned more than $700,000 in speaking fees from Citadel, as recently as last fall. In an ethics agreement here, she pledged not to involve herself in specific matters involving the firm – as well as major banks including Citigroup, Barclays and Goldman Sachs – without first seeking authorization…

https://www.reuters.com/article/us-usa-treasury-yellen-gamestop-exclusiv-idUSKBN2A306A

Yellen Gets Ethics Waiver to Lead Regulator Meeting on GameStop Insanity after Taking $810K from Citadel – The power of the retail trader is very real but that’s largely because HFT traders have conspired with discount brokerages to front-run virtually all of their order floweasily amplifying moves like what we saw last week…

    Robinhood and TDAmeritrade and E-Trade and the others, for a brief moment, exposed the fact that all of this plumbing that runs Wall Street now is new and complicated and almost nobody understands how it works.  Though, if anybody in this country does, its regulators like Janet Yellen and Biden SEC head Gary Gensler, who ran the CFTC under Obama. It’s old rats on a new ship. If anybody knows where the bodies are buried, it’s them, especially since it was they that created the massive asset bubble that made all this possible in the first place.

https://www.zerohedge.com/markets/yellen-gets-ethics-waiver-lead-regulatory-crusade-against-hft-after-taking-700k-citadel

In yesterday’s missive, we opined that stocks were due to rest.  Wise guys had the same notion.  So, a few of them executed a classic pump & dump on Wednesday.

The professional day traders that became conditioned to buy all dips are now accompanied by retail traders that are conditioned to buy all dips.  This behavior will eventually generate a disaster.  Stocks are already bubbling.  The gazillions of retail traders that now play with stocks will make things far worse.

The Fed has already stated that it will ignore asset bubbles because it fears that any attempt to arrest the bubble will kill the economy.  The Fed also has stated that it will allow inflation to run hot a lot longer than it has in the past.  Ergo, the bubble will continue until it self-destructs.  This will end very badly.

GameStop soared 22 points to 112 on the NYSE open due to a report that it had created a Chief Technology Officer (CTO) position.  Within 40 minutes of the early peak, GME tumbled to 85.25.  It bounced to 104 by 10:53 ET.  But sellers reappeared; then buyers reappeared.  GME ended up +2.41.

WTI Oil and gasoline jumped as much as 2.6%!  Inflation is here and it will worsen as traders pour into oil and gasoline for the usual spring rally that precedes Drive Season upward bias.

Reflation Trade Is Back in Focus as the Ruckus Over Reddit Fades

Institute for Supply Management data released Monday not only showed that manufacturing remained robust in January but also that prices paid for raw materials rose to their highest since April 2011. That helped push U.S. 5-year breakeven rates — a gauge of inflation expectations — to an eight-year high

https://t.co/VYMnNakbm2

The seasonally adjusted final IHS Markit US Services PMI Business Activity Index registered 58.3 in January, up from 54.8 in December and higher than the earlier released ‘flash’ estimate of 57.5. The rate of growth was the second-sharpest in almost six years…

    The rise in cost burdens was the sharpest since data collection began, and the rate of increase has now accelerated for three successive months. Higher input prices were reportedly linked to greater fuel, transportation and supplier costs, especially for PPE…  https://t.co/FrqoXwLoAw

BTW, Sen. Bernie Sanders is now the Chairman of the US Senate Budget Committee.  Got gold?

US private sector growth led by healthcare and financial services in January

https://www.markiteconomics.com/Public/Home/PressRelease/eabd7dcf605f4519a5bf1f89dd6ebccd?hsid=9a3d6e00-f56d-46be-a3f0-7144b6b8beec

The ADP Employment Change for January is +174k; 70k was consensus.  The ISM Services PMI for January rose to 58.3 from 57.5; 57.4 was expected.

US admiral warns of ‘real possibility’ of nuclear war with Russia, China

The admiral who heads the US Strategic Command… Adm. Charles Richard warned that Moscow and Beijing have “begun to aggressively challenge international norms” in “ways not seen since the height of the Cold War.”… He expressed his alarm at a spike in “cyberattacks and threats in space” by Russia and China, as well as their investment in advanced weapons, including nukes… https://trib.al/0hXpqAO

Senator Hawley Press Office @SenHawleyPress: Day traders and retail investors have gotten more criticism and more scrutiny now in the last week than the people who single-handedly crashed the entire financial system in 2008 — and who then got bailed out for it!  That’s a problem.

@MZHemingway: For all the concern about disruptions to constitutional processes on Jan. 6, there was no concern from media and others on the left when Democrat mobs completely disrupted the constitutional proceedings for confirming a Supreme Court justice in 2018

     FWIW, GOP voters aren’t looking for senators who are merely against convicting the former president. That’s easy. On the merits, on the Constitutional grounds, etc. They are looking for much more — people who will fight HARD against the left-wing mobs and their falsehoods.

@IngrahamAngle: If the GOP doesn’t start showing voters how it’s going to win against the Left, if it keeps dancing to Dems’ tune, rest assured Trump will be back with 20,000 person rallies.

@ElijahSchaffer: Remember when BLM & Antifa sieged the White House last year, injured 60 secret service officers, and set the historic St. John’s church on fire?… Democrat politicians/pundits defended the violent terrorists as “peaceful protesters”? https://t.co/gFMf9pt9sr

Trump aides made a late request to Team Biden to extend their parental leave. They said no.

The Trump political appointees said they were surprised they were turned down…The Biden White House declined to speak about the issue on record…Biden has long been a champion of parental leave benefits… [Can you feel the unity?] https://www.politico.com/news/2021/02/02/parental-leave-trump-aides-465302?s=02

White House Press Sec. Psaki Under Fire for Tweeting Homophobic Slur about Lindsey Graham

https://trendingpolitics.com/scandal-white-house-press-secretary-jen-psaki-under-fire-for-tweeting-homophobic-slur-about-lindsey-graham/

John Kerry took private jet to Iceland for environmental award, called it ‘only choice for somebody like me’ – President Biden’s recently appointed climate czar, John Kerry, took a private jet to Iceland in 2019 to receive an award for climate leadership — and an Icelandic reporter confronted him over the issue, newly resurfaced video shows… [Haughty & hypocritical in one remark!  Where’s the US MSM?]

https://www.foxnews.com/politics/john-kerry-private-jet-iceland-climate-award

Breitbart’s @Doc_0: Unfortunately, the GOP leadership is historically bad at understanding which ideas have real electricity with the public. They lay their power lines around dim donor-approved ideas that don’t fire up the public or spark energetic conversation. They were taught to loathe populism.

AOC Wasn’t Even in the Capitol Building During Her ‘Near Death’ Experience

AOC, suggested that she was about to be assassinated by rioters in her office in a video that has been viewed over 6 million times…AOC wasn’t even in the Capitol building where all the action was going down. If she was in her office, she was in the Cannon Building which is nearby, but a different building…

    According to Rep. Nancy Mace (R-SC), who has an office in the same hall as AOC, two doors away, there were never any rioters in their hall so there was never any physical danger from rioters coming in at any point…   https://redstate.com/nick-arama/2021/02/03/321029-n321029

@MattBatzel: Wisconsin Elections Commission Administrator Wolfe admits they haven’t looked at if people have tried to vote in multiple states yet, says they will do that in the summer. Voter Felon audit report will be done later. Will be presented in the future.  When they say “there was no fraud,” the “experts” haven’t really even looked yet.

A man’s admiration for absolute government is proportionate to the contempt he feels for those around him.” — Alexis de Tocqueville

Well that is all for today

I will see you FRIDAY night.

3 comments

  1. HARVEY: Skip all the Trumps conspiracy bullshit and stick with money and metals. It’s embarrassing..!

    Like

  2. […] by Harvey Organ, Harvey Organ Blog: […]

    Like

  3. […] by Harvey Organ, Harvey Organ Blog: […]

    Like

Leave a Reply to BANK OF ENGLAND READY FOR NEGATIVE INTEREST RATES | altnews.org Cancel reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

<span>%d</span> bloggers like this: