APRIL 19/YOUR TYPICAL RAID DAY FOR GOLD AND SILVER: GOLD DOWN $9.25 TO $1770.25//SILVER DOWN 31 CENTS TO $25.76//STRONG ADVANCE IN GOLD TONNAGE STANDING AT THE COMEX TO: 90.08 TONNES/SILVER OZ REMAIN CONSTANT AT 14.885 MILLION OZ//CORONAVIRUS UPDATES/VACCINE UPDATES//RUSSIA VS UKRAINE// RUSSIA VS USA//CHINA VS JAPAN RE TAIWAN AND THE SOUTH CHINA SEA ISLANDS//IRAN OBTAINS 60% URANIUM ENRICHMENT//BRANDON SMITH A GOOD READ ON GLOBALIST STRATEGY//ST VINCENT UPDATE//RIOTING CONTINUES IN MAJOR BLUE STATE CITIES ON FRIDAY-SUNDAY//BORDER CRISIS CONTINUES AND BIDEN HIMSELF DECLARES THE BORDER AFFAIRS AS A CRISIS//SWAMP STORIES FOR YOU TONIGHT//

GOLD:$1770.25   DOWN $9.25   The quote is London spot price

Silver:$25.76 DOWN  $0.31   London spot price ( cash market)

your data.

 
 
 

Closing access prices:  London spot

i)Gold : $1770.80 LONDON SPOT  4:30 pm

ii)SILVER:  $25.82//LONDON SPOT  4:30 pm

PLATINUM AND PALLADIUM PRICES BY GOLD-EAGLE (MORE ACCURATE

 

 

PLATINIUM  $1211.37 UP $2.31

PALLADIUM: 2812.37 up $32.14  PER OZ

 

James McShirley on the pricing of gold eagles/and silver eagle

James Mc late this afternoon…april 15/

If gold and silver are so dull and boring like the Crimex trading implies, and like the MSM narrative goes, then why haven’t the physical coin premiums backed off one iota for nearly a year? Gold Eagles are still +$160 and up to spot, Silver Eagles are anywhere from $10-15 over spot. Does this sound like lackluster demand? Even the narrative about coins being different than bulk physical doesn’t add up. With commodity shortages affecting virtually everything on the planet it makes no sense that silver would miraculously be plentiful and cheap. Solar panels are going crazy, industrial demand is bonkers, and mega- wealthy people still view gold and silver as wealth.

Jim McShirley

Editorial of The New York Sun | February 1, 2021

end

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COMEX DATA

 
 
 

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

receiving today 72/171

EXCHANGE: COMEX
CONTRACT: APRIL 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,779.000000000 USD
INTENT DATE: 04/16/2021 DELIVERY DATE: 04/20/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 H GOLDMAN 12
332 H STANDARD CHARTE 66
435 H SCOTIA CAPITAL 171
624 H BOFA SECURITIES 10
657 C MORGAN STANLEY 7
661 C JP MORGAN 72
709 C BARCLAYS 4
____________________________________________________________________________________________

TOTAL: 171 171
MONTH TO DATE: 25,260

 

ISSUED: 0

Goldman Sachs:  stopped: 12

 
 

NUMBER OF NOTICES FILED TODAY FOR  APRIL. CONTRACT: 171 NOTICE(S) FOR 17100 OZ  (0.5318 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  25,260 NOTICES FOR 2,526,000 OZ  (78.569 tonnes) 

SILVER//APRIL CONTRACT

 

0 NOTICE(S) FILED TODAY FOR nil  OZ/

total number of notices filed so far this month: 2797 for 13,985,000  oz

 

BITCOIN MORNING QUOTE  $56,949   DOWN 4793

BITCOIN AFTERNOON QUOTE.:  $56,059 DOWN 5683 DOLLARS  

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD DOWN $9.25  AND NO PHYSICAL TO BE FOUND ANYWHERE:

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

MAKES A LOT OF SENSE!!:

A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//:  A PAPER  WITHDRAWAL OF 3.20 TONNES OF PAPER GOLD FROM GLD

WITH RESPECT TO GLD WITHDRAWALS: 

GOLD IS “RETURNED” TO THE BANK OF ENGLAND WHO ARE CALLING IN THEIR LEASES: THE GOLD NEVER LEAVES THE B OF ENGLAND IN THE FIRST PLACE. THE BANK IS PROTECTING ITSELF IN CASE OF COMMERCIAL FAILURE

THIS IS A MASSIVE FRAUD!!

GLD: 1,019.66 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER DOWN 31 CENTS

SHOCKING!!

A HUGE CHANGE IN SILVER INVENTORY AT THE SLV// A WITHDRAWAL OF 1.617 MILLION OZ FROM THE SLV//

 

WITH REGARD TO SILVER WITHDRAWALS FROM THE SLV:

THE SILVER WITHDRAWALS ARE ACTUALLY “RETURNED” TO JPM, AS JPMORGAN CALLS IN ITS LEASES WITH THE SLV FUND.  (THE STORY IS THE SAME AS THE BANK OF ENGLAND’S GOLD). THE SILVER NEVER LEAVES JPMORGAN’S VAULTS. THEY ARE CALLING IN THEIR LEASES FOR FEAR OF SOLVENCY ISSUES.

INVENTORY RESTS AT:

572.074  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 165.90 down $0.45 OR  0.27%

XXXXXXXXXXXXX

SLV closing price NYSE 23.98 down $0.11 OR 0.46%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

Let us have a look at the data for today

THE COMEX OI IN SILVER SURPRISINGLY FELL BY A SMALL SIZED 402 CONTRACTS FROM 170,734 DOWN TO 170,332, AND FURTHER FROM FROM THE NEW RECORD OF 244,710, SET FEB 25/2020. THE LOSS IN OI OCCURRED DESPITE OUR STRONG $0.18 ADVANCE IN SILVER PRICING AT THE COMEX  ON FRIDAY. IT SEEMS THAT THE LOSS IN COMEX OI IS  DUE TO A HUGE BANKER AND ALGO  SHORT COVERING !//SOME REDDIT RAPTOR BUYING//.. COUPLED AGAINST A STRONG EXCHANGE FOR PHYSICAL ISSUANCE. WE ALSO  HAD ZERO LONG LIQUIDATION AS WE GAINED A STRONG 1500 TOTAL CONTRACTS ON OUR TWO EXCHANGES. 

 

WE WERE  NOTIFIED  THAT WE HAD A STRONG  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: 1902,, AS WE HAD THE FOLLOWING ISSUANCE:   MAY:  1540, JULY 362 AND ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE 1902 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! SILVER IS IN BACKWARDATION AND AS SUCH THE DANGER TO OUR BANKERS IS LONDONERS WILL PURCHASE CHEAPER FUTURES METAL OVER HERE AND THEN TAKE DELIVERY.

HISTORY OF SILVER OZ STANDING AT THE COMEX FOR THE PAST 33 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

2020

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***(5THHIGHEST RECORDED STANDING FOR SILVER)

2.205  MILLION OF FINAL STANDING FOR JUNE

86.470 MILLION OZ FINAL STANDING IN JULY…RECORD HIGHEST EVER RECORDED

6.475 MILLION OZ FINAL STANDING IN AUGUST

55.400 MILLION OZ FINAL STANDING IN SEPT (3RD HIGHEST RECORDED STANDING)

8.900 MILLION OZ INITIALLY STANDING IN OCT.

3.950 MILLION OZ FINAL STANDING IN NOV.

46.685 MILLION OZ FINAL STANDING FOR DEC. (4TH HIGHEST RECORDED STANDING)

2021

6.890 MILLION FINAL STANDING FOR JAN 2021

12.020  MILLION OZ FINAL STANDING FOR FEB 2021

58.425 MILLION OZ FINAL STANDING FOR MARCH 2021//2ND HIGHEST EVER RECORDED

14.855 MILLION OZ INITIAL STANDING FOR APRIL

 

FRIDAY, AGAIN OUR CROOKS USED COPIOUS PAPER TRYING TO LIQUIDATE SILVER’S PRICE …AND THEY WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN ,(IT ROSE BY $0.18). OUR OFFICIAL SECTOR/BANKERS WERE  UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE  ANY AMOUNT OF SILVER LONGS AS  WE HAD A STRONG NET GAIN OF 1500 CONTRACTS ON OUR TWO EXCHANGES, THE GAIN WAS DUE TO i)HUGE BANKER/ALGO SHORT COVERING// WE ALSO HAD  ii) GOOD REDDIT RAPTOR BUYING//.    iii)  A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A ZERO INCREASE IN SILVER STANDING FOR COMEX SILVER  REMAINING AT 14.855 MILLION OZ, iv) STRONG COMEX OI GAIN AND iv) ZERO LONG LIQUIDATION //.YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..

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

FOR NEWCOMERS, HERE ARE THE DETAILS:

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

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

 
 

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

.

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 SILVER 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 APRIL. HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF MAY FOR SILVER:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE IN THIS NON ACTIVE MONTH OF APRIL. 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 (MAY), 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

 

APRIL

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

9015 CONTRACTS (FOR 13 TRADING DAY(S) TOTAL 9015 CONTRACTS) OR 45.075 MILLION OZ: (AVERAGE PER DAY: 693 CONTRACTS OR 3.465 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF APRIL: 45.075 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 APRIL:  45.075 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON.

JAN EFP ACCUMULATION FINAL:  113.735 MILLION OZ

FEB EFP ACCUMULATION FINAL:   208.18 MILLION OZ (RAPIDLY INCREASING AGAIN)

MAR EFP ACCUMULATION SO FAR: : 103.450 MILLION OZ  (DRAMATICALLY SLOWING DOWN AGAIN//FEARS OF EFP CONTRACTS BEING EXERCISED FOR METAL)

APRIL: 45.075 MILLION OZ  (SILVER IS NOW IN SEVERE BACKWARDATION AND THUS DRAMATICALLY FEWER ISSUANCE OF EFP’S)

 

RESULT: WE HAD A SMALL DECLINE IN COMEX OI SILVER COMEX CONTRACTS OF 402, DESPITE OUR  $0.18 GAIN IN SILVER PRICING AT THE COMEX ///FRIDAY .…THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1902 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE HAD A HUGE SIZED GAIN OF 1500 OI CONTRACTS ON THE TWO EXCHANGES (WITH OUR  $0.18 GAIN IN PRICE)//THE DOMINANT FEATURE TODAY WAS THE HUGE BANKER SHORTCOVERING AND OUR MONTH OF MAY’S OPEN INTEREST REFUSING TO BUCKLE MUCH TO FUTURE MONTHS. THE BANKERS SEE THE TEA LEAVES FORMING AND THEY ARE GETTING OUT OF DODGE IN A BIG WAY…TOO MANY LONGS (AND OUR WHALE) STANDING FOR DELIVERY…

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  1902 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s)TOGETHER WITH A SMALL SIZED DECREASE OF 402 OI COMEX CONTRACTS.AND ALL OF THIS DEMAND HAPPENED WITH OUR $0.18 GAIN IN PRICE OF SILVER/AND A CLOSING PRICE OF $26.05//FRIDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

FOR THE NEW APRIL.  DELIVERY MONTH/ THEY FILED AT THE COMEX: 188 NOTICE(S) FOR 940,000, 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 SILVER IN BACKWARDATION (INDICATING SCARCITY), 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 ROSE BY A SMALL SIZED 1234 CONTRACTS TO 476,297,AND CLOSER TO OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE SMALL SIZED INCREASE IN COMEX OI CAME WITH OUR STRONG GAIN IN PRICE  OF $13.60///COMEX GOLD TRADING//FRIDAY. AS IN SILVER WE MUST HAVE HAD CONSIDERABLE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR FAIR SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE ALSO HAD ZERO LONG LIQUIDATION AS WE HAD AN GOOD GAIN OF 3925 TOTAL CONTRACTS ON OUR TWO EXCHANGES.  WE ALSO HAD A HUGE GAIN IN GOLD TONNAGE STANDING RISING TO 90.068 TONNES, AS 420 CONTRACTS (OUR ILLUSTRIOUS BANKERS) QUEUE JUMPED AHEAD OF THE LINE LOOKING FOR GOLD METAL.  (42,000 OZ OR 1.306 TONNES)

 

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF $13.60 WITH RESPECT TO FRIDAY’S TRADING

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

WE HAD A GOOD GAIN  OF 3925 OI CONTRACTS (12.21 TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2691 CONTRACTS:

CONTRACT .  APRIL:  0 AND JUNE:  2691  ALL OTHER MONTHS ZERO//TOTAL: 2691.  The NEW COMEX OI for the gold complex rests at 476,297. 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 AN GOOD SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3925 CONTRACTS: 1,234 CONTRACTS INCREASED AT THE COMEX AND 2691 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN OF 3925 CONTRACTS OR 12.21 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2691) ACCOMPANYING THE SMALL SIZED GAIN IN COMEX OI  (1234 OI): TOTAL GAIN IN THE TWO EXCHANGES:  3925 CONTRACTS. WE NO DOUBT HAD 1 ) HUGE BANKER SHORT COVERING AS OUR BANKERS ARE RUNNING FROM DODGE AND CONSIDERABLE ALGO SHORT COVERING ,2.) HUGE INITIAL STANDING AT THE GOLD COMEX FOLLOWED BY A STRONG GAIN TODAY FOR THE FRONT APRIL MONTH ON DAY 12 OF THE DELIVERY CYCLE TO   90.068 TONNES)  3) ZERO LONG LIQUIDATION,  /// ;4) FAIR COMEX OI GAIN AND 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL AND ….ALL OF THIS HAPPENED WITH OUR GAIN IN GOLD PRICE TRADING FRIDAY//$13.60!!.

 

 
 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2021 INCLUDING TODAY

APRIL

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 32,435, CONTRACTS OR 3,243,500 oz OR 100.88 TONNES (13 TRADING DAY(S) AND THUS AVERAGING: 2495 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 13 TRADING DAY(S) IN  TONNES: 100.88 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2020, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 100.88/3550 x 100% TONNES =2.84% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO DATE:
 
 
JANUARY: 265.26 TONNES (RAPIDLY INCREASING AGAIN)
 
FEB  :  171.24 TONNES  ( DEFINITELY SLOWING DOWN AGAIN)..
 
 
MARCH:.   276.50 TONNES (STRONG AGAIN///IT SURPASSED JANUARY!!)

 

APRIL:      100.88 TONNES  ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

 

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

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

1.Today, we had the open interest at the comex, in SILVER, FELL BY A SMALL SIZED 402 CONTRACTS FROM 170,734 DOWN TO 170,332 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 SMALL SIZED LOSS IN OI SILVER COMEX WAS PRIMARILY DUE TO; 1) HUGE BANKER SHORT COVERING//ALGO SHORT COVERING// GOOD REDDIT// RAPTOR BUYING , 2) A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS (SEE BELOW), 3) A ZERO INCREASE IN  STANDING FOR SILVER  AT THE COMEX FOR APRIL REMAINING AT 14.855 MILLION OZ//., AND 4) ZERO LONG LIQUIDATION.

EFP ISSUANCE 1902 CONTRACTS

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

 MARCH:  0 ; MAY: 1540 AND, JULY: 362 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1902 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 402 CONTRACTS AND ADD TO THE 1902 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A HUGE SIZED GAIN OF 1500 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 7.500 MILLION  OZ, OCCURRED WITH OUR STRONG $0.18 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 .

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge + OTHER COMMENTARIES

3. ASIAN AFFAIRS

i)MONDAY MORNING/ SUNDAY NIGHT: 

SHANGHAI CLOSED UP 50.93 PTS OR 1.49%   //Hang Sang CLOSED UP 136.44 PTS OR 0.47%     /The Nikkei closed UP 2.00 POINTS OR 0.01%//Australia’s all ordinaires CLOSED UP 0.03%

/Chinese yuan (ONSHORE) closed UP AT 6.5078 /Oil UP TO 62.96 dollars per barrel for WTI and 66.59 for Brent. Stocks in Europe OPENED ALL GREEN EXCEPT GERMAN DAX //  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.5078. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.5073   : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

i

 

3 a./NORTH KOREA/ SOUTH KOREA

NORTH KOREA//USA/OUTLINE

END

b) REPORT ON JAPAN

3 C CHINA

CHINA VS USA//CHINA VS TAIWAN

 

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

OUTLINE
 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A SMALL SIZED 1234 CONTRACTS TO 478,251 MOVING CLOSER TO  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 COMEX INCREASE OCCURRED WITH OUR STRONG GAIN OF $13.60 IN GOLD PRICING FRIDAY’S COMEX TRADING…WE ALSO HAD A FAIR EFP ISSUANCE (2691 CONTRACTS). …AS THEY WERE PAID OFF NOT TO TAKE DELIVERY.  

WE HAVE ALSO  LATELY WITNESSED  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   0

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF APRIL..  THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 2691 EFP CONTRACTS WERE ISSUED:  ;  AND APRIL:  0, JUNE:  2691 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2691  CONTRACTS .(DESPITE THE STRONG BACKWARDATION IN GOLD FOR JUNE/APRIL VS SPOT)

WHEN WE HAVE BACKWARDATION,  EFP ISSUANCE IS VERY COSTLY BUT THE REAL PROBLEM IS THE SCARCITY OF METAL AND IT IS FAR BETTER FOR OUR BANKERS TO PAY OFF INDIVIDUALS THAN RISK INVESTORS ESPECIALLY FROM LONDON STANDING FOR DELIVERY. THE LOWER PRICES IN THE FUTURES MARKET IS A MAGNET FOR OUR LONDONERS SEEKING PHYSICAL METAL. BACKWARDATION ALWAYS EQUAL SCARCITY OF METAL!

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A GOOD SIZED53925  TOTAL CONTRACTS IN THAT 2691 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A SMALL SIZED  COMEX OI  OF 1234 CONTRACTS.WE HAVE A HUGE AMOUNT OF GOLD TONNAGE STANDING FOR APRIL  (90.068 TONNES) WHICH FOLLOWS MARCH:  (30.205 TONNES) WHICH FOLLOWED FEB (113.424 TONNES)  WHICH FOLLOWED OUR STRONG LEVEL OF JAN 2021 GOLD . ((6.500 TONNES).  

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $13.60)., AND  WERE  UNSUCCESSFUL IN FLEECING ANY LONGS AS WE HAD A GOOD NET GAIN ON OUR TWO EXCHANGES OF 3925 CONTRACTS.  THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 12.21 TONNES TONNES, ACCOMPANYING OUR STRONG GOLD TONNAGE STANDING FOR APRIL (90.068 TONNES)..I  STRONGLY BELIEVE THAT 0UR BANKER FRIENDS ARE GETTING QUITE NERVOUS.  THE SMALL GAIN IN COMEX OI IS DUE TO BANKER SHORT COVERING IN A BIG WAY.  THEY ARE LOOKING OVER THEIR SHOULDERS AND WITNESSING MASSIVE SILVER/GOLD SHORTAGES THAT CANNOT BE COVERED. THEY ARE TRYING TO FLEE IN HASTE “FROM DODGE”. 

NET GAIN ON THE TWO EXCHANGES :: 3925 CONTRACTS OR  392500 OZ OR  12.21  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 PRODUCT.
 
THUS IN GOLD WE HAVE THE FOLLOWING:  476,297 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 47.62 MILLION OZ/32,150 OZ PER TONNE =  1481 TONNES

 

THE COMEX OPEN INTEREST REPRESENTS 1481/2200 OR 67.32% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 
 

Trading Volumes on the COMEX GOLD TODAY:176,207 contracts// volume extremely poor/DREADFUL   //

CONFIRMED COMEX VOL. FOR YESTERDAY:  179,148 contracts//  volume:   extremely poor/ hopeless!/ //most of our traders have left for London

 

APRIL 19 /2021

 
INITIAL STANDINGS FOR APRIL COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
 
 
 
 
131,008.765 OZ
INCLUDES
BRINKS  4000 KILOBARS

 

and

HSBC: 2,404.675 

 

 

total weight removed: 131,008.765  oz

 

4.075 TONNES

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory in oz

nil

 

Deposits to the Customer Inventory, in oz
 
nil OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
171  notice(s)
17,100 OZ
(0.5518 TONNES
 
No of oz to be served (notices)
3697 contracts
(369700oz)
 
11.499 TONNES
 
 
 
Total monthly oz gold served (contracts) so far this month
25,260 notices
2,526,000 OZ
78.569 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
 

We had 0 deposit into the dealer

 
 
 
 
 
total deposit:  nil   oz
 
 
 

total dealer withdrawals: nil oz

we had 0 deposits into the customer account
 
 
 
TOTAL CUSTOMER DEPOSITS: nil  oz
 
 
 
 
 
 
We had 1 withdrawals
 
i) Out of Brinks:  128,604.000 oz (4000 kilobars)
ii) Out of HSBCL  2,494.675  oz
 
 
 
 
 
 
total withdrawals:  131,008.675 oz (4.07 tonnes) 
 
 
 
 
 
 
 

We had 3  kilobar transactions (3 out of 4 transactions)

ADJUSTMENTS  2:   DEALER TO CUSTOMER

 

INT DELAWARE:  24,209.650 OZ  (753 KILOBARS)

AND

JPMORGAN: 192.906 OZ (6 KILOBARS) 

 
 
 
 

The front month of APRIL registered a total of 3,868 CONTRACTS for a GAIN of 420 contracts.  We had 0 notices filed on FRIDAY, so WE GAINED A MONSTROUS 420  contracts or an additional 42,000 oz  (1.306 TONNES)  will stand for gold in this very active delivery month of April./ They refused to morph into London based forwards where they will circulate as serial forwards or be paid handsomely to cash settle. They decided it was in their interest to search for metal over here. No doubt it was bankers who queue jumped ahead of other investors as the need to put out fires elsewhere intensified.

 

 
 
 
 

MAY GAINED  a small  21 CONTRACTS TO STAND AT 1697.

WE SHOULD HAVE ABOUT 5.2 TONNES OF GOLD STAND IN MAY.

JUNE GAINED 184 CONTRACTS UP TO 391,140

THE COMEX GOLD PRINTING PRESS WAS WORKING OVERTIME TODAY

We had 171 notice(s) filed today for 17,100   oz

FOR THE APRIL 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and  0 notices were issued from their client or customer account. The total of all issuance by all participants equates to  171  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 72 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 12 notices received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the APRIL /2021. contract month, we take the total number of notices filed so far for the month (25,260) x 100 oz , to which we add the difference between the open interest for the front month of  (APRIL:  3868 CONTRACTS ) minus the number of notices served upon today 171 x 100 oz per contract) equals 2,895,700 OZ OR 90.068 TONNES) the number of ounces standing in this  active month of APRIL

thus the INITIAL standings for gold for the APRIL contract month:

No of notices filed so far 25,089 x 100 oz  + (3868 OI for the front month minus the number of notices served upon today (171} x 100 oz which equals 2,895,700 oz standing OR 90.068 TONNES in this  active delivery month of APRIL. This is a HUGE/ATMOSPHERIC amount standing for GOLD IN APRIL, A GENERALLY STRONG ACTIVE DELIVERY MONTH. 

 

WE GAINED 340 CONTRACTS OR AN ADDITIONAL 34,000 OZ WILL STAND FOR GOLD ON THIS SIDE OF THE POND AS THEY REFUSED TO MORPH INTO LONDON BASED FORWARDS 

 

 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

NEW PLEDGED GOLD:

464,420.335, oz NOW PLEDGED  march 5/2021/HSBC  13.626 TONNES

351,292.365 PLEDGED  MANFRA 10.92 TONNES

312,798.505, oz  JPM  10.162 TONNES

1,083,680.877 oz pledged June 12/2020 Brinks/33.706 TONNES

67,422.339, oz Pledged August 21/regular account 2.097 tonnes JPMORGAN

6,308.08 oz International Delaware:  .196 tonnes

192.906 oz Malca

total pledged gold:  2,286,115.402 oz                                     71.10 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 484.76 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 90.068 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

total registered or dealer  17,871,313.760 oz or 555.87 tonnes
 
 
total weight of pledged:  2,286,115.402 oz or 71.10 tonnes
 
 
thus:
 
registered gold that can be used to settle upon: 15,585,198.0 (484,76 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes  15,585,198.0 (484.76 tonnes)
 
total eligible gold: 17,734,689.762 oz   (551.62 tonnes)
 
 
total registered, pledged  and eligible (customer) gold 35,606,003.622 oz or 1,107.49 tonnes (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  981.15 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

 

 
 
APRIL 16/2021

And now for the wild silver comex results

 
 

And now for the wild silver comex results

INITIAL STANDING FOR SILVER/APRIL

APRIL. SILVER COMEX CONTRACT MONTH//INITIAL STANDING

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
664,556.739 oz
CNT
DELAWARE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
NIL
 
oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
1,576,847.400 oz
HSBC
JPM
BRINKS
DELAWARE
 
 
 
 
 
 
 
 
 
whatever enters the comex faults
leaves
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
0
 
CONTRACT(S)
(NIL OZ)
 
No of oz to be served (notices)
174 contracts
 870,000 oz)
Total monthly oz silver served (contracts)  2797 contracts

 

13,985,000 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 deposit into the dealer 
 
 
 

total dealer deposits: NIL        oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had  4 deposit into the  oz

customer account (ELIGIBLE ACCOUNT)

i) Into HSBC 572,862.900 oz

ii) Into JPMorgan:  572,862.900 oz

iii) Into BRINKS:  385,653.760  OZ

IV) into  DELAWARE:  951.07 OZ

 
 
 
 
 

JPMorgan now has 187.97 million oz of  total silver inventory or 51.19% of all official comex silver. (187.97 million/367.191 million

total customer deposits today: 1,844,615.338   oz

we had 3 withdrawals:

 
 
i) out of CNT:  51,801.460 oz 
 
ii) Out of Delaware: 13,011.479 oz
iii) Out of HSBCL  599,743.800 oz
 
 
 
 
 
 
 
 
 

total withdrawals 644,556.739   oz

We had 2 adjustments:  dealer to customer

 

i) CNT:  601,146.300 oz

and

 

ii) Int Delaware; 484,296.999 oz  

 

 
 

Total dealer(registered) silver: 120.758 million oz

total registered and eligible silver:  367.191 million oz

a net 0.700 million oz enters the comex silver vaults.

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The month of April saw 174 contracts standing for delivery for a LOSS of 188 contracts.  We had 188 contracts served upon yesterday, so we LOST 0 contract or AN ADDITIONAL NIL oz will stand for delivery over here as they refused to morph into London based forwards.
 
 
 
 
 
 

May shockingly LOST A SMALL  2598 contracts to stand at  83,284 contracts. May is the next active month and it seems the cavalry are showing up for physical silver as well. Thus we have April, a non active month having an initial 14.855 million oz stand and May with open interest refusing to buckle. 

 

To give you an idea of the strength of the May contract, let us compare the open interest remaining today vs last year. At this same time, FRIDAY APRIL 17/2020) we had 44,849 oi contracts still outstanding on the May 2020 CONTRACT.  This year:  85,284  still outstanding!!.

LAST YEAR 1413 CONTRACTS ROLLED ON APRIL 17 ; TODAY 2598 ROLLED /

 

WE HAVE 9 MORE READING DAYS BEFORE FIRST DAY NOTICE!(LAST YR 9 READING DAYS)

LAST YEAR WE HAD FINAL MAY SILVER OZ STANDING:  45.220 MILLION OZ/(5TH HIGHEST STANDING FOR SILVER EVER RECORDED)

June gained 12 contracts up to 1097.

July gained 2168 contracts up to 66,374 contracts

 

IT LOOKS LIKE WE HAVE OUR WHALE STANDING FOR SILVER METAL.  ERIC SPROTT’S FUND HAS NOTIFIED THE SEC THAT THEY ARE DOING A SHELF OFFERING OF $2 BILLION FOR SPROTT SILVER PHYSICAL FUNDS  (PSLV). IS ERIC TAKING ON THE CROOKS BY STANDING FOR METAL IN  MAY? THE MAY OI NUMBERS HAVE REMAINED EXTREMELY HIGH NOW FOR THE PAST 16 DAYS AS THEY REFUSE TO BUDGE. I NOW THINK THAT WE MAY HAVE TWO WHALES STANDING.  MAYBE MAINLAND CHINA?

 

The total number of notices filed today for APRIL 2021. contract month represented by 0 contract(s) FOR NIL oz

To calculate the number of silver ounces that will stand for delivery in APRIL. we take the total number of notices filed for the month so far at  2797 x 5,000 oz = 13,985,000 oz to which we add the difference between the open interest for the front month of APRIL (174) and the number of notices served upon today 0 x (5000 oz) equals the number of ounces standing.

Thus the April standings for silver for the APRIL/2021 contract month: 2797 (notices served so far) x 5000 oz + OI for front month of APRIL (174)  – number of notices served upon today (0) x 5000 oz of silver standing for the Jan contract month .equals 14,855,000 oz. ..VERY STRONG FOR A NON ACTIVE APRIL MONTH. 

WE LOST 0 CONTRACTS OR AN ADDITIONAL NIL OZ WILL  STAND FOR DELIVERY ON THIS SIDE OF THE POND. THEY REFUSED TO BE BOUGHT OUT THROUGH THE EFP CHANNEL IN LONDON.

 

TODAY’S ESTIMATED SILVER VOLUME 75,250 CONTRACTS // volume: fair volumes generally falling off a cliff// very 

 

FOR YESTERDAY 68,206  ,CONFIRMED VOLUME/ fair

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 -0.29% (APRIL; 19/2021)

2. Sprott gold fund (PHYS): premium to NAV RISES TO –1.66% to NAV:   (APRIL 19/2021 )

Note: /Sprott physical gold trust is back into NEGATIVE/0.29%(APRIL19/2021)

(courtesy Sprott/)

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

NAV 18.57 TRADING 17.97//NEGATIVE 3.23

END

And now the Gold inventory at the GLD/(this vehicle is a fraud as there is no gold behind them!)

APRIL 19/WITH GOLD DOWN $9.25 TODAY A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF 3.2 TONNES FROM THE GLD///INVENTORY RESTS AT 1019.66 TONNES.

APRIL 16/WITH GOLD UP $13.60 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1022.86 TONNES

APRIL 15/WITH GOLD UP $29.40 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.21 TONNES FROM THE GLD////INVENTORY RESTS AT 1022.86 TONNES

APRIL 14/WITH GOLD DOWN $11.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1026.07 TONNES

APRIL 13/WITH GOLD UP $14.50 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1026.07 TONNES

APRIL 12/WITH GOLD DOWN $11.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1026.07 TONNES

APRIL 9/WITH GOLD DOWN $13.50 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF 2.67 TONNES FORM THE GLD//INVENTORY RESTS AT 1026.02 TONNES

APRIL 8/WITH GOLD UP $16.90 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD/I: A WITHDRAWAL OF .36 TONNES FROM THE GLD//NVENTORY RESTS AT 1028.69 TONNES

APRIL 7/WITH GOLD DOWN $1.25 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.78 TONNES FROM THE GLD///INVENTORY RESTS AT 1029.05 TONNES

APRIL 6//WITH GOLD UP $12.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1032.83 TONNES

APRIL 5/WITH GOLD DOWN $1.65 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF 4.67 TONNES FROM THE GLD///INVENTORY RESTS AT 1032.83 TONNES.

APRIL 1/WITH GOLD UP $13.00 TODAY:  NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1037.50 TONNES

MARCH 31/WITH GOLD UP $28.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1037.50 TONNES

MARCH 30/WITH GOLD DOWN $28.20 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD… A DEPOSIT OF .88 TONNES//INVENTORY RESTS AT 1037.50TONNES

MARCH 29/WITH GOLD DOWN $20.00 TODAY//A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 6.41 TONNES FROM THE GLD..//INVENTORY RESTS AT 1036.62 TONNES

MARCH 26/WITH GOLD UP $7.00 TODAY// NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1043.03 TONNES

MARCH//25: WITH GOLD DOWN $7.75 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.33 TONNES//GOLD REST AT 1043.03 TONNES

MARCH 24//WITH GOLD UP $7.75 TODAY://A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 6.42 TONNES OF GOLD: THIS GOLD IS BEING RETURNED TO THE BANK OF ENGLAND ON A PHONY LEASE SCAM//INVENTORY RESTS AT 1045.36 TONNES.

MARCH 23/WITH GOLD DOWN $12.65 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1051.78 TONNES

MARCH 22/WITH GOLD DOWN $3.90 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.5 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 1051.78 TONNES

MARCH 19/WITH GOLD UP $8.60 , NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1048.28 TONNES

MARCH 18/WITH GOLD UP $5.40 TODAY, A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.04 TONNES FROM THE GLD.//INVENTORY RESTS AT 1048.28 TONNES

MARCH 17/WITH GOLD DOWN $3.65 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1050.32 TONNES

MARCH 16/WITH GOLD UP $2.00 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.75 MILLION OZ FROM THE GLD//INVENTORY RESTS AT 1050.32 TONNES

MARCH 15/WITH GOLD UP $8.85 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.25 TONNES OF GOLD FORM THE GLD///INVENTORY RESTS AT 1052.07 TONNES

MARCH 12/WITH GOLD DOWN $3.25 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A REMOVAL OF 4.96 TONNES FROM THE GLD////INVENTORY RESTS AT 1055.27 TONNES

MARCH 11/WITH GOLD UP $1.25 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: ANOTHER WITHDRAWAL OF 1.75 TONNES FROM THE GLD///INVENTORY RESTS AT 1060.23 TONNES

MARCH 10/WITH GOLD UP $4.70 TODAY: ANOTHER HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.46 TONNES FROM THE GLD/INVENTORY RESTS AT 1061.98 TONNES

MARCH 9/WITH GOLD UP $37.40 TODAY: ANOTHER HUGE CHANGE IN GOLD INVENTORY AT THE GLD: ANOTHER WITHDRAWAL OF 5.82 TONNES FORM THE GLD////INVENTORY RESTS AT 1063.44 TONNES

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Inventory rests tonight at:

 

APRIL 19 / GLD INVENTORY 1019.66 tonnes

LAST;  1041 TRADING DAYS:   +85.70 TONNES HAVE BEEN ADDED THE GLD

LAST 941 TRADING DAYS// +  270.22TONNES  HAVE NOW  BEEN ADDED INTO  THE GLD INVENTORY

end

Now the SLV Inventory/(this vehicle is a fraud as there is no physical metal behind them!)

APRIL 19/WITH SILVER DOWN 31 CENTS TODAY: A HUGE  CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.671 MILLION OZ FORM THE SLV//INVENTORY RESTS AT 572.074 MILLION OZ//

APRIL 16.WITH SILVER UP 18 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.113 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 573.745 MILLION OZ//

APRIL 15/WITH SILVER UP 42 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 574.868 MILLION OZ//

APRIL 14/WITH SILVER UP 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 574.868 MILLION OZ//

APRIL 13/WITH SILVER UP 51 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV///INVENTORY RESTS AT 574.868 MILLION OZ//

APRIL 12/WITH SILVER DOWN 39 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 574.868 MILLION OZ///

APRIL 9/WITH SILVER DOWN 27 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 574.868 MILLION OZ//

APRIL 8/WITH SILVER UP 33 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 574.868 MILLION OZ//

APRIL 7 /WITH SILVER  UP 3 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 574.868 MILLION OZ. 

APRIL 6/WITH SILVER UP 39 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 256,000 OZ FORM THE SLV////INVENTORY RESTS AT 574.868 MILLION OZ///

APRIL 5/WITH SILVER DOWN 14 CENTS TODAY: NO  CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 575.124 MILLION OZ

APRIL 1.WITH SILVER UP 48 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.898 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 575.124 MILLION OZ/

MARCH 31/WITH SILVER UP 37 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 579.022 MILLION OZ

MARCH 30/WITH SILVER DOWN 62 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV/: A DEPOSIT OF 417,000 OZ INTO THE SLV/INVENTORY REST AT 579.022 MILLION OZ..

MARCH 29/WITH SILVER DOWN 34 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 578.605 MILLION OZ.

MARCH 26/WITH SILVER UP 5 CENTS TODAY: TWO HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.042 MILLION OZ AT 3 PM AND ANOTHER AT 5.20 PM:  1.949 MILLION OZ /INVENTORY RESTS AT 578.605 MILLION OZ

MARCH 25/WITH SILVER DOWN 15 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV; A WITHDRAWAL OF 3.253 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 582.596 MILLION OZ

MARCH 24//WITH SILVER UP 1 CENT TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 585.846 MILLION OZ./

MARCH 23/WITH SILVER DOWN 55 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 585.846 MILLION OZ/

MARCH 22/WITH SILVER DOWN 50 CENTS TODAY,TWO HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.486 MILLION OZ FROM THE SLVAT 3 PM AND ANOTHER 2.599 MILLION OZ WITHRAWWAL AT 5:20 ////INVENTORY RESTS AT 585.846 MILLION OZ/ (TOTAL SILVER LEAVING 4.085 MILLION OZ)

MARCH 19/WITH SILVER DOWN 8 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY REST AT 589.931 MILLION OZ//

MARCH 18/WITH SILVER UP 28 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV; AT 3 PM: A WITHDRAWAL OF 2.507 MILLION OZ//INVENTORY RESTS AT 589.931 MILLION OZ//

MARCH 17/WITH SILVER UP 5 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 592.438 MILLION OZ//

MARCH 16/WITH SILVER DOWN 25 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 592.438 MILLION OZ//

MARCH 15/WITH SILVER UP 35 CENTS TODAY: NO  CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 592.438 MILLION OZ///

MARCH 12/WITH SILVER DOWN 23 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 592.438 MILLION OZ//

MARCH 11/WITH SILVER DOWN ONE CENT TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 592.438 MILLION OZ//

MARCH 10/WITH SILVER DOWN 3 CENTS TODAY; ANOTHER HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 928,000 OZ FROM THE SLV////INVENTORY RESTS AT 592.438 MILLION OZ//

MARCH 9/WITH SILVER UP 91 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 593.366  MILLION OZ///

XXXXXXXXXXXXXX

SLV INVENTORY RESTS TONIGHT AT

APRIL 19/2021
572.074 MILLION OZ

 
 

PHYSICAL GOLD/SILVER STORIES
i)LAWRIE WILLIAMS:

LAWRIE WILLIAMS: A decidedly more positive week for gold

Last week we wrote about gold thus: “There certainly has been the impression that the price had been stabilising and was thus poised to move higher once the current consolidation phase came to an end.” And so it seems to have come to pass, perhaps even sooner than we were anticipating. The gold price on the week surged past the $1,750 level and closed in New York on Friday at $1,776.50 – up around $32 – despite some strong resistance kicking in without which it might well have run even higher. Whether it is allowed to stay there next week remains to be seen, but at the moment we are anticipating another consolidation period in the $1,770s ending with a strong run at regaining the $1,800 level, perhaps sooner rather than later.

There is little doubt that global investment demand for gold is remaining high at current price levels. Demand seems to be picking up in the two main consuming nations, China and India – interestingly in spite of horrendously high coronavirus infection levels in the latter and reports of a small uptick in the former, although these figures might be considered small in relation to their massive population sizes. Pandemic fear might even boost gold demand in India with those with cash – particularly in rural communities after last year’s strong monsoon rains – who may be looking to protect themselves against a Covid-related economic downturn. Agriculture accounts for a little under 20% of India’s GDP and employs around half the nation’s workforce, so a ‘good’ monsoon is beneficial for the economy and for disposable income –a significant proportion of which has always tended to find its way into gold from this sector of the nation’s populace.

Again, as we noted here recently, outflows from the world’s gold-backed ETFs appear to be slowing down, while recent U.S. economic and employment data has been largely supportive of gold. Also investment demand for pure gold coins and small bars also anecdotally appears to be running at a high level – and that applies to the other precious metals too.

Writing about those ‘other precious metals’ these become more and more industrial-sector -associated as we go down the list – silver, platinum, palladium. Silver and palladium have done reasonably well price-wise in the past week, platinum less so. Silver has a tendency to move pari passu with gold despite probably over 60% of its usage nowadays classified as industrial. Indeed it appears to move in a more exaggerated manner both up and down. In the past week it gained around 2.7% as opposed to gold’s 1.8%. However, year to date gold is actually down over 6% and silver only 1.6%. Silver has, though, been playing catch-up from its horrendous falls of last year, when it dipped hugely from mid-February through April, before bouncing back sharply in July.

Platinum and palladium have actually been the best performing precious metals this year so far, with the former up around 12% and the latter 13% – presumably in the light of anticipated recovery from the coronavirus pandemic in the West’s industrialised nations along with estimated supply deficits for both metals.

We still urge caution about the longer term future for palladium in particular, however, given the growth in electric vehicle (EV) sales, particularly in Europe. In Norway, for example, sales of EVs last year exceeded those of internal combustion (IC) engine driven vehicles – perhaps the shape of things to come! EVs have no need for palladium and as legislation forces car plants to cease manufacturing and selling IC powered vehicles, which use palladium-rich exhaust cleaning systems, as they are doing in several European nations over the next decade or so, the longer term future for palladium looks decidedly bleak, although it may yet have another few years in the sun.

China, currently the world’s largest car market, is already probably leading the world in EV manufacture and sale. The big hold-out of course is North America where the IC engine still dominates, and will continue to do so for some years, but the writing is on the wall even there!

Other factors currently supporting the gold price, and to an extent the other precious metals too, has been a continuing fall in the dollar index – the gold price tends to be inversely related to the value of the U.S. dollar – together with the global trend towards ultra-low, and even negative, interest rates. Inflation may be rearing its head in the U.S., but the Federal Reserve has intimated strongly that its priority is a return to what it judges to be maximum employment and that inflation is somewhat less worrying for it, particularly since it has been undershooting its 2% target for some time now. A period of plus 2% inflation would just redress the balance, although if it surges to 3% or above that might prompt a reaction. But a jump in inflation to a level the Fed would see as worrying does not look to be on the cards at the moment.

So, if anything we see gold as likely to challenge the $1,800 level as a likely scenario within the next few weeks. From there onwards and upwards, although whether it can rebuild the momentum necessary to take out $2,000 again this year is somewhat less certain.

Silver should behave positively on the back of gold – it is very much a sentiment-driven metal and if gold rises the sentiment towards silver tends to too. The pgms may yet have a positive run if the economy really does be seen to be improving, but don’t bank on that – the latest U.S. and European Covid-infection figures have to be disturbing in that respect. Gold stocks are probably due a bit of a run too, and the better ones pay dividends as well which is something of an investment bonus.

17 Apr 2021

end

or

EGON VON GREYERZ// 

The $2.3 Quadrillion Global Timebomb

 
MONDAY, APR 19, 2021 – 05:00 AM

Authored by Egon von Greyerz via GoldSwitzerland.com,

Credit Suisse is hours from collapse and the consequences could be a systemic failure of the financial system…

Disappointingly, my dream last night stopped there. So unfortunately I didn’t experience what actually happened.

As I warned in last week’s article on Archegos and Credit Suisse, investment banks have created a timebomb with the $1.5 quadrillion derivatives monster.

A few years ago, the BIS (Bank of International Settlement) in Basel reduced the $1.5 quadrillion to $600 trillion with a pen stroke. But the real gross figure was still $1.5q at the time. According to my sources, the real figure today is probably over $2 quadrillion.

A major part of the outstanding derivatives are OTC (over the counter) and hidden in off balance sheet special purpose vehicles.

LEVERAGED ASSETS JUST GO UP IN SMOKE

The $30 billion in Archegos derivatives that went up in smoke over a weekend is just the tip of the iceberg. The hedge fund Archegos lost everything and the normal uber-leveraged players Goldman Sachs, Morgan Stanley, Credit Suisse, Nomura etc lost at least $30 billion.

These investment banks are making casino bets that they can’t afford to lose. What their boards and top management don’t realise or understand is that the traders, supported by easily manipulated risk managers, are betting the bank on a daily basis.

Most of these ludicrously high bets are in the derivatives market. The management doesn’t understand how they work or what the risks are and the account managers and traders can bet billions on a daily basis with no skin in the game but massive potential upside if nothing goes wrong.

DEUTSCHE BANK – DERIVATIVES 600X EQUITY

But we are now entering an era when things will go wrong. The leverage is just too high and the bets totally out of proportion to the equity.

Just take the notorious Deutsche Bank (DB) that has outstanding derivatives of €37 trillion against total equity of €62 billion. Thus the derivatives position is 600X the equity.

Or to put it in a different way, the equity is 0.17% of the outstanding derivatives. So a loss of 0.2% on the derivatives will wipe the share capital and the bank out!

Now the DB risk managers will argue that the net derivatives position is just a fraction of the €37 trillion at €20 billion. That is of course nonsense as we saw with Archegos when a few banks let $30 billion over a weekend.

Derivatives can only be netted down on the basis that counterparties pay up. But in a real systemic crisis, counterparties will disappear and gross exposure will remain gross.

So all that netting doesn’t stand up to real scrutiny. But it is typical for today’s casino banking world when depositors, shareholders and governments take all the downside risk and the management all the upside.

So let us look at the global risk picture in the financial system:

The $2.3 quadrillion above is what the world is exposed to when this timebomb explodes.

That is the total sum of global debt, derivatives and unfunded liabilities. When all the dominos start falling, and no one can meet their obligations, this is what governments are left to finance.

Yes, they will print this money and much more as deficits mount exponentially due to collapsing currencies. But the MMT (Modern Monetary Theory) clowns will then find out that printed money rightfully has ZERO value.

If these clowns studied history they would learn that MMT has never worked. Just check the Roman Empire 180-280 AD, France in the early 18th century, or the Weimar Republic, Zimbabwe, Argentina and Venezuela in the 19th and 20th centuries.

So when Fiat money dies, how much gold is required to repair the damage?

If we look at the cube below with all the gold ever produced in history, we see that it is 198,000 tonnes valued at $11 trillion.

Below the cube the total central bank and investment gold is shown. This amounts to 77,000 tonnes or $4.3 trillion. That sum represents 0.2% of the total debt and liabilities of $2.3 quadrillion as shown in the Timebomb.

The $4.3 trillion gold value is at a gold price of $1,750 per ounce. This minuscule 0.2% of liabilities obviously is far too small to support global debt. A 20% gold backing of total liabilities would be a minimum.

That would be 100X the current 0.2% or a gold price of $175,000.

I am not forecasting this level or saying that it is likely to happen. All I am doing is looking at the total risk that the world is facing and relating it to the only money that will survive.

Also, measuring the gold price in dollars serves no purpose because when/if this scenario happens, the dollar will be worthless and the gold price measured in worthless dollars at infinity.

FOCUS ON WEALTH PRESERVATION

Rather than focusing on a potential gold price measured in dollars, investors should worry about preserving their wealth in real assets held outside a bankrupt financial system.

Regardless of what price gold and silver reach, history proves that it is the ultimate form of wealth preservation.

It will not be different this time. Therefore, in the coming crisis, precious metals will be the best insurance to hold as protection against unprecedented global risk.

Gold’s rise since 2000 in no way reflects the massive money printing we have seen in this century.

Still as the graph below shows, gold is at the beginning of a very strong uptrend that has very far to go in both time and price.

Investors have the following choice:

  1. Either they follow the coming crash in bubble assets like stocks, property and bonds all the way to the bottom which is likely to be 75-95% lower in real terms (measured in gold).

  2. Or they protect their wealth in physical precious metals, stored outside a fractured financial system.

As always, history gives the answer as to which path to take.

end
 

OR

Peter Schiff..

Peter Schiff: Bernie Madoff Could Have Been Fed Chair Or Treasury Secretary

 
MONDAY, APR 19, 2021 – 12:45 PM

Via SchiffGold.com,

When Federal Reserve Chairman Jerome Powell appeared on 60 Minutes recently, he was asked what it takes to become the head of the central bank. In a clip from podcast episode 679, Peter Schiff said that when you think about the actual qualification, Bernie Madoff would have made the perfect Fed chairman. Or perhaps the secretary of the US Treasury department.

So, what does qualify one to head up the Federal Reserve? Peter said that apparently, being clueless about economics helps.

You have to have absolutely no understanding about money, or banking. It helps to be a real good liar.”

Peter said perhaps a background in advertising or marketing would help.

That’s really what you’re trying to do, right? You’re trying to BS everybody and con everybody.”

Bernie Madoff recently died in prison. He was known as the architect of the biggest Ponzi scheme in history. Peter said his background was ideal for Fed chair.

He ran a Ponzi scheme. And that’s exactly what the US government is doing — is running a Ponzi scheme. Bernie Madoff may, in fact, be dead. But the greatest purveyor of Ponzi schemes is alive and well and lives on in the US government. I mean, Bernie Madoff was a piker of Ponzi schemes when compared to the US government. And so operating a private Ponzi scheme is a good job prerequisite for being Fed chairman.”

Peter said he would have made an even better Treasury Department secretary.

The US government operates two giant Ponzi schemes. One is Social Security. We take money from people currently working and give it to those who have retired. Meanwhile, we promise the people who are currently working that they will get paid out from the money put in by the crop of future workers.

That is pure Ponzi. That is the definition of Ponzi. It’s just that everybody knows it’s Ponzi and the government requires you to participate even though you know it’s a Ponzi. Because most people, if they had a choice, would opt out of Social Security. They wouldn’t want to take part in it.”

And there’s another government Ponzi scheme that’s not quite so apparent – the financing of the national debt.

How does the US government pay interest to current bondholders? It borrows the money from future bondholders. And when the bonds held by current bondholders mature, where does the government get the money to pay off those lenders? It gets it by borrowing more money from new lenders.

Well, that again is a Ponzi scheme. Now, more and more, those new lenders are the Federal Reserve. So, the government is getting money from the Federal Reserve to pay off the maturing bonds. And where is it going to get the money to pay off the Fed when those bonds mature? Well, they’ll get that money from the Fed too. So, the entire thing is a Ponzi scheme.”

But in this case, nobody is forced to participate. The Chinese, the Japanese, and individuals in the US are not forced to buy US Treasuries. In this case, the government would have been better off to keep the Ponzi nature of its financing quiet.

That’s why I thought Bernie Madoff would have been a much better secretary of the Treasury than a lot of the clowns that we’ve had.”

Whenever the US government gets close to the debt ceiling, the Treasury secretary marches out and talks about how important to raise it or the US government will default. Peter said he never thought it was a good idea to remind its creditors that we’re just a debt ceiling increase away from default.

In other words, if we can’t bring more people into the Ponzi scheme, we’re just going to default on the commitments we made to the people who are already in the scheme. And so what I was always saying was, ‘Look, Bernie Madoff would never make that kind of mistake.’ It is Ponzi 101 – when you are running a Ponzi scheme, the last thing you want to do is tell people it’s a Ponzi scheme. You’ve got to keep that real quiet. You’ve got to at least pretend that you’re going to pay your bills. So, maybe Bernie Madoff being an expert in Ponzies having kept his going for as long as he did, he may have been better at conning the world so that it wouldn’t recognize the Ponzi nature of what was going on.”

The crazy thing is that even though the US government basically revealed to the world that this is a Ponzi scheme, the world continued to loan America money.

And that’s part of the reason we haven’t already seen a collapse in the US Treasury market. People still don’t get it. Even with all this money printing and these huge deficits, and even with all of these price hikes, bond investors are complacent. They’re sitting there. They’re staring at potentially double-digit inflation – the 1970s on steroids. They’re looking right at that and they’re just there. They’re not selling their bonds. It’s like they’re like a deer in the headlights. They’re staring at this headlight from an oncoming car, and they’re kind of confused, or mesmerized, or scared. And so they just sit there and then they get hit by a car and die. Well, that’s what’s going to happen to these bond market investors. They’re sitting there like a deer in a headlight. They’re confused. They don’t know what’s going on. And the next thing you know, they’re going to be flattened by a Mack truck, and they’re going to be dead. Because their bonds are going to be killed by inflation.”

or
PAM AND RUSS MARTENS

-END-

ii) Important gold commentaries courtesy of GATA/Chris Powell

For your interest…

Try to remember where you put your gold, since you can’t take it with you

 

 

 Section: Daily Dispatches

 

French Town Perplexed by Gold Bars and Coins Found Stashed in Old House

By Angelique Chrisafis
The Guardian, London
Friday, April 16, 2021

The surprise discovery of three jam jars filled with gold bars and hundreds of gold coins in an old building marked for renovation has left a mountain community in eastern France perplexed and celebrating.

The mayor of Morez, a small industrial town in a picturesque valley in the Jura, said the value of the find was more than E600,000 (£520,700). Town hall staff first found three jam jars of gold bars and coins worth E500,000 at the back of a dusty shelf, then opened a safe hidden behind boxes in a wardrobe to find up to E150,000 in gold coins.

The mayor, Laurent Petit, said that the three-story building in the town centre had been lived in by four brothers and sisters without children. 

When the last died in his 90s last year a relative offered to sell the building to the town hall for E130,000. Morez, like many other towns in France, was seeking to buy up and renovate old buildings to attract families back to its emptying centre. …

… For the remainder of the report:

https://www.theguardian.com/world/2021/apr/16/french-officials-perplexed…

END

Let’s help Chris Marcus in his endeavour to question the CFTC.

(Chris Marcus/GATA)

Help Chris Marcus question the CFTC, though we already know the big answer

 

 

 Section: Daily Dispatches

 

9:56p ET Saturday, April 17, 2021

Dear Friend of GATA and Gold (and Silver):

Chris Marcus of Arcadia Economics has assembled a compelling list of questions about what seems like the indifference of the U.S. Commodity Futures Trading Commission to misconduct and manipulation in the silver market, which the commission is supposed to regulate.

Marcus is undertaking to raise $100,000 via GoFundMe.com to be donated to a charitable cause if the commission answers his questions, or possibly to be used to sue the commission if it refuses to answer.

Of course the CFTC isn’t likely to answer any important questions about misconduct and manipulation in the monetary metals market, in light of the overarching question it has repeatedly refused to answer for GATA and for U.S. Rep. Alex X. Mooney, R-West Virginia:

https://www.gata.org/node/19917

That is, does the commission have jurisdiction over manipulative trading undertaken by or at the behest of the U.S. government or governments trading with the approval of the U.S. government?

Indeed, the architecture for manipulative trading for or with the authorization of the U.S. government long has been in place in plain view, just not widely understood. They are:

— The U.S. Treasury Department’s Exchange Stabilization Fund, which is authorized to manipulate and rig not only all markets in the United States but all markets in the world, quite without the approval of the governments with direct responsibility for those markets:

https://home.treasury.gov/policy-issues/international/exchange-stabiliza…

— The Bank for International Settlements, which functions as a broker for its member central banks, whose admitted purposes include “”the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful,” and which even advertises as being among its services its secret interventions in the gold and currency markets:

https://www.gata.org/node/4279

https://www.gata.org/node/11012

— The Central Bank Incentive Program maintained by the CME Group, operator of the major U.S. futures exchanges, which offers governments and central banks volume trading discounts for secretly trading all U.S. futures contracts through exchange-approved brokers:

https://www.gata.org/node/18925

Marcus wonders, as many do, why the CFTC continues to allow JPMorganChase & Co. to trade in U.S. futures markets when the bank has been described by the U.S. Justice Department as a criminal enterprise, its brokers have confessed to market manipulation, and the bank recently was fined $920 million for manipulating the gold, silver, and U.S. Treasury futures markets:

https://gata.org/node/20530

An obvious answer is available: that the bank is trading for the U.S. government or other governments with the authorization of the U.S. government. 

After all, a few years ago both JPMorgan Chase & Co. CEO Jamie Dimon and the bank’s commodity desk chief, Blythe Masters, said the bank had no proprietary position in the monetary metals markets and traded them only for “clients”:

https://www.gata.org/node/11216

Unfortunately no mainstream financial news organization asked the bank whether the clients for whom it was trading those markets included the U.S. government or governments intervening in those markets with the approval of the U.S. government.

GATA put that question to the bank but predictably enough was not answered.

Many years ago GATA engaged a major U.S. antitrust law firm to sue the U.S. government for rigging the gold market. After researching the law, the firm advised GATA against suing, on the grounds that market rigging by the U.S. government was fully authorized by the Gold Reserve Act of 1934 as amended since then.

But in a lawsuit underwritten by GATA in U.S. District Court in Boston in 2001, Harvard-trained lawyer and gold advocate Reginald Howe sued the Bank for International Settlements, the U.S. Treasury, the U.S. Federal Reserve, and various bullion banks for manipulating the gold market. In the single public hearing in that case, an assistant U.S. attorney moved for dismissal of the lawsuit on the grounds that the U.S. government indeed was authorized by the Gold Reserve Act of 1934 to rig the gold market as the lawsuit complained. The lawsuit was dismissed on jurisdictional grounds instead:

https://gata.org/node/4211

In 2008 GATA sued the Federal Reserve for access to its gold records. The Fed refused to make most of them accessible but during the Fed’s internal adjudication procedure, a member of the Fed’s Board of Governors acknowledged that the Fed had secret gold swap arrangements with foreign banks and would not disclose them:

https://www.gata.org/node/9917

GATA subsequently won the lawsuit, but only insofar as the court found that a single document was illegally withheld by the Fed, the rest being exempt from disclosure. Obviously the U.S. government has a lot of market rigging to hide.

The legality of that market rigging answers most of Marcus’ questions. Indeed, as the great U.S. journalist Charles Peters often wrote during his editorship of The Washington Monthly, the scandal is not what is illegal but rather what is perfectly legal.

For governments figured out what they needed to do to subvert and defeat strategic markets long before GATA, Marcus, and others realized that something was wrong.

Nevertheless, Marcus’ questions remain compelling and may lead others to pursue the market-rigging issue with their members of Congress, their brokers, their monetary metals mining companies, and mainstream financial journalists and analysts.

So please watch Marcus’ video itemizing his questions —

https://www.youtube.com/watch?v=_MQrenwxsz0&t=16s

— and consider contributing to his project:

https://www.gofundme.com/f/will-the-cftc-honor-its-oath-in-the-silver-ma…

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

 END

A must audio to be heard…..Chris Powell explains how and why the USA rigs the gold price to defend the dollanr and control interest rates

(Courtesy Chris Powell/Palisades Radio)

U.S. rigs gold to defend dollar and control interest rates, GATA secretary tells Palisades Gold Radio

 

 

 Section: Daily Dispatches

 

From Palisades Gold Radio
Saturday, April 17, 2021

Palisades Gold Radio’s Tom Bodrovics welcomes Chris Powell, secretary treasurer of the Gold Anti-Trust Action Committee, to the show.

Chris explains why gold is manipulated, since governments want to control and monopolize currencies. Gold is an independent global reserve system, and it acts as a competitor to government monetary issuance. Central banks for the past half-century have strived to control the gold price. Control of gold is the power to control the value of capital, labor, goods, and services worldwide.

Gold swaps and leasing have enabled central banks to create a vast imaginary supply of gold, Chris says. Most of the “gold” the investment community owns either doesn’t exist or is oversubscribed. If the market understood central bank actions in the gold market, valuations would have to change. The question is: Who owns the gold and how much do they have?

Chris discusses a hearing of the U.S. Commodity Futures Trading Commission at which metals consultancy executive Jeff Christian estimated the leverage in the gold market at nearly 100 to 1. The Reserve Bank of India estimated the leverage at 92 to 1. These ratios indicate that there are numerous paper claims to every ounce in vaults.

Chris explains the closing of the U.S. gold window in 1971 and a possible intent for the creation of gold futures markets — to scare investors away from gold. Most large countries understand the scheme, he says, but most investors remain unaware.

Much of the world is not thrilled with the U.S. dollar system since it controls most values today and is the primary instrument of U.S. imperialism, Chris says.

Chris outlines the various uses for silver and notes the metal is also an industrial one. Silver could become the “kryptonite” to central bankers and governments because it’s widely held, he says.

Chris argues that gold price suppression is used to control interest rates. Ordinarily there is an inverse relationship between real interest rates and gold, and the gold carry trade acted as a mechanism of yield-curve control.

The interview is 56 minutes long and can be viewed here:

https://palisadesradio.ca/chris-powell-covert-yield-curve-control-under-…

end

The London’s financial Times is stating the obvious that Biden wishes to weaponize the uSA financial system as they sanction nations to get their way.

(Manson/London’s Financial Times/gata)

Biden shows he too will wield U.S. financial system as foreign policy weapon

 

 

 Section: Daily Dispatches

 

By Katrina Manson
Financial Times, London
Saturday, April 17, 2021

By using American banks as a cudgel against Russia, Joe Biden has shown his willingness to weaponise the U.S. financial system against foes, continuing a tactic honed during the Obama years and dramatically ramped up under Donald Trump. 

Biden’s decision this week to ban U.S. financial institutions from buying new sovereign Russian debt as punishment for an alleged cyber hacking campaign and other misdemeanours offered the first significant insight into the president’s attitude to sanctions. 

It has prompted renewed concerns about their overuse.

“U.S. financial institutions are being weaponised,” a banking regulatory lawyer told the Financial Times, referring to the use of sanctions as foreign policy tools. 

Experts this week argued that the U.S. government was “outsourcing U.S. foreign policy” to U.S. banks or deploying them as “forward basing” — military terminology for establishing an enduring armed presence beyond home turf. …

At stake, said Andrea Kendall-Taylor, who was appointed Biden’s National Security Council Russia director before declining for personal reasons, is the dominance of the U.S. dollar and America’s unassailed lead in the global financial system, which relies on New York as international dollar clearinghouse. 

Those targeted for sanctions could seek to shield themselves by turning from U.S. banks and toward non-dollar holdings, a trend that if undertaken en masse could undermine the U.S. dollar as the primary reserve currency.

“The risk is real, and I think it’s something the United States needs to be extremely aware of and discriminating in its use of sanctions when possible,” she said. 

“We do see Russia and China really working together to reduce the centrality of the United States in the economic global system, and over the longer term that risks diluting the efficacy of our tools of financial coercion,” she said. …

… For the remainder of the report:

https://www.ft.com/content/cf8e8a79-63b6-48b4-98c1-30904897c80e 

end

A Canadian mining operation is going back to California searching for the mother lode

(zerohedge)

California gold fever still reigns as new prospectors seek to reopen giant mine

 

 

 Section: Daily Dispatches

 

By Kurtis Alexander
San Francisco Chronicle
Sunday, April 18, 2021

GRASS VALLEY, California — It has been a long time since California’s gold country has churned out any big mining fortunes.

The rush of prospectors and the blasting of ore have given way to small towns comfortable in the quiet of the foothills. The glory of the Mother Lode today lives largely in history museums, local tourism ads and an occasional bar named the Mine Shaft or Golden Era.

But that doesn’t mean there’s no gold.

For the past four years, a Canadian mining company has been in Nevada County, about 60 miles northeast of Sacramento, collecting samples of what it suspects is one of the world’s highest-grade underground gold deposits, potentially worth billions.

Now that company, Rise Gold Corp., is drafting plans to get at the bounty by reopening the more than 150-year-old Idaho-Maryland Mine.

“There’s some really good targets that they left behind,” President and CEO Ben Mossman said as he stood in his office in Grass Valley recently, looking at a map of the long-shuttered mine and its 73 miles of underground tunnels. “The fact that they planned to double production here before they closed says to us that they thought there would be a lot more gold.” …

… For the remainder of the report:

https://www.sfchronicle.com/local/article/Gold-fever-still-reigns-in-Cal…

* * *

iii) Other physical stories:

It has been our opinion that China has amassed over 24,000 tonnes of gold since 1988

(Xie/Bloomberg)

Have Chinese State Banks Quietly Bought $180 Billion In Gold?

BY TYLER DURDEN
SUNDAY, APR 18, 2021 – 07:30 PM

By Ye Xie, Bloomberg Live commentator and author

Three things we learned last week:

1. U.S. Treasury scrutinizes Chinese state banks for possible hidden currency intervention

While Janet Yellen’s Treasury Department refrained from labeling China as a currency manipulator in its semi-annual currency report, it again zeroed in on the role of Chinese state banks in the foreign-exchange market. It noted that China’s net foreign exchange settlement, which it considers a more comprehensive proxy for intervention because it includes the activities of China’s state-owned banks, surged to about $180 billion last year.But the PBOC’s foreign exchange assets, which historically track the settlement data, stayed flat.

The Treasury cautioned that it’s not clear what’s driving the unusual divergence between the two data sets, which used to provide roughly similar estimates of the direction and size of China’s currency intervention. While acknowledging that the difference could be due to commercial reasons, it’s also possible that these banks intervened on behalf of the PBOC to cover the central bank’s tracks, the Treasury said (ZH: or, it is the case that China has been stealthily accumulating some $180 billion in gold, as discussed last Friday in “Beijing Greenlights Purchases Of Billions In Bullion“).

“Overall, this development highlights the need for China to improve transparency regarding its foreign exchange intervention activities,” the Treasury Department wrote in a report released Friday. “Compared to other major economies, especially in Asia, China is increasingly an outlier with respect to its non-disclosure of foreign exchange market intervention.”

The Treasury raised similar concerns in its previous report. This won’t be the last time we hear about the issue.

2. Besieged Huarong got some reprieve

Dollar bonds of China Huarong Asset Management Co. rallied after financial regulators sought to ease investors’ concerns that the nation’s largest bad-debt manager may be heading for default. Huarong’s operations are normal and the company has ample liquidity, the China Banking and Insurance Regulatory Commission said Friday. Chinese regulators asked banks not to withhold loans to help stabilize to Huarong’s cash flow, Reuters reported, citing people familiar with the matter.

It’s clear that Beijing wants to keep Huarong from becoming China’s “Lehman moment”, even as it works to remove the perception of a blanket guarantee supporting state-owned companies.

The uncertainties remain, with Huarong’s perpetual bonds trading at about 73 cents on the dollar. But so far, the contagion has been limited as the domestic funding market remains calm.

3. Global growth is accelerating

China’s economy strengthened in the first quarter as consumer spending rose more than expected. In the U.S., economic data from retail sales to manufacturing surveys also surged. In Europe, vaccine rollouts are starting to speed up. Meanwhile, bond yields remain contained as traders have pared back their expectations for central bank hikes.
No wonder global stocks keep smashing records.

end

Bitcoin crashes 15% Saturday night down to $51,000.  By mid morning Sunday, Bitcoin is trading at: $55,451

(zerohedge)

Bitcoin Crashes As Much As 15% Amid Unsubstantiated Report Of Money Laundering Crackdown

 
SUNDAY, APR 18, 2021 – 08:21 AM

In a crash that started late on Saturday evening and accelerated throughout the night, Bitcoin and the entire cryptocurrency space plunged the most in more than seven weeks, just days after hitting a new all time high ahead of the Coinbase IPO.

Bitcoin fell 12% to $53,400 as of 8:0 a.m. in New York on Sunday, after plunging as much as 15.1% to $51,707.51 in the Asian day. Ethereum, the second-largest token, dropped almost 18% before paring losses.

The market-wide crash has in $1.72 billion worth of long positions liquidated in just one hour alone. Expanding this range to 24-hours shows that 927,000 traders’ positions worth nearly $10 billion were wiped off, with $68.73 million being the largest liquidation so far according to FX street.

The crash appeared to coincide with an unconfirmed twitter report from a supposedly credible source that the Treasury could crack down on money laundering using cryptocurrencies.

Whereas this account traditionally blasts Reuters or Bloomberg headlines, in this case there was no such underlying report from either Reuters or Bloomberg, and Bloomberg even said that “several online reports attributed the plunge to speculation the U.S. Treasury may crack down on money laundering that’s carried out through digital assets.”

Furthermore, in comments just earlier this week, regulators refused to take a position on bitcoin either way, even as speculation of a crackdown against bitcoin by the US government is ever present – indeed, the rumor of a “crackdown” against money laundering has always been present, which is why said tweet merely poured gasoline on an already jittery market.

In other words this was a case of “goalseeking a narrative” and framing it as a rumor to justify a prior action.

A more likely explanation is the the profit-taking in dogecoin led to some margin calls which quickly spilled over to selling the broader, illiquid crypto space. Dogecoin, a token created as a joke and which has been boosted by the likes of Elon Musk and Mark Cuban, rallied more than 110% Friday before tumbling the next day. Demand was so brisk for the token that investors trying to trade it on Robinhood crashed the site, the online exchange said in a blog post Friday.

“The crypto world is waking up with a bit of a sore head today,” Antoni Trenchev, co-founder of crypto lender Nexo, told Bloomberg. “Dogecoin’s 100% Friday rally was ‘peak party,’ after the Bitcoin record and Coinbase listing earlier in the week. Euphoria was in the air. And usually in the crypto world, there’s a price to pay when that happens.”

Besides the “unsubstantiated” report of a U.S. Treasury crackdown, Trenchev said factors for the declines may have included “excess leverage, Coinbase insiders dumping equity after the direct listing and a mass outage in China’s Xinjiang province hitting Bitcoin miners.”

Last week, Fed Chairman Powell directly addressed Bitcoin saying “is a little bit like gold” in that it’s more a vehicle for speculation than making payments. European Central Bank President Christine Lagarde in January took aim at Bitcoin’s role in facilitating criminal activity, saying the cryptocurrency has been enabling “funny business.”

While both top regulators had an opportunity to preview any coming “crackdown”, they both failed to do so suggesting that contrary to rumors none is coming. In fact, the only place that did lash out against Bitcoin is Turkey, whose central bank banned the use of cryptocurrencies as a form of payment from April 30, saying the level of anonymity behind the digital tokens brings the risk of “non-recoverable” losses. This however only led to further loss of faith in the Turkish lira which is the year’s worst performing currency. As such any more official action against crypto will be viewed as merely confirming that fiat is losing the war against crypto.

As a reminder, while the establishment (Yellen, Lagarde, Powell, and various elected officials) continue to push the “illicit use” fearmongering, Michael Morell, a 33-year veteran of the agency, published an independent paper commissioned by the newly formed lobbying group Crypto Council for Innovation (whose founding members include Coinbase, Fidelity Digital Assets, and Square) directly refuting this well-traveled narrative. In an expansive study, Morell came to two key conclusions:

  1. The broad generalizations about the use of bitcoin in illicit finance are significantly overstated.

  2. Blockchain analysis is a highly effective crime fighting and intelligence gathering tool.

But that is not all. In speaking with Forbes before the paper’s release, Morell made it clear that there will also be severe geopolitical repercussions for the U.S. vis-a-vis China if it wastes energy and resources chasing a ghost as opposed to leveraging blockchain, and fintech more generally, to build the country’s technological and economic base.

Simply put, the percentage of illicit transactions in crypto is minimal (less than 1% according to one report from Chainalysis), and falling. For additional context, he notes that estimates of illicit activity conducted through traditional intermediaries range between 2-4 percent of global GDP.  

Percentage of Illicit Activity Using Bitcoin (2012-2020)

These findings will not surprise readers who have been following this industry for a long time and have encountered this narrative before, but they have never been refuted so directly by such an authoritative figure.

Meanwhile, a buy the dip moment is coming. Not only have some of the biggest crypto bulls expressed their interest in bidding up bitcoin…

…. in a note published on Friday, JPMorgan’s Nick Panagirtzoglou pointed to the “hefty” futures carry over spot of around 4% over two months in both bitcoin and ethereum which “is likely to help the ethereum CME futures contract to continue to grow rapidly over the coming months as it incentivizes institutional market participants to enter the futures market in order to play the carry trade i.e. by selling the futures and buying the spot to capture the spread between the two with an annualized return of more than 20%.” Indeed, most of the previous growth of the CME bitcoin futures contract started taking place from 2019 onwards once the futures to spot spread reached significant positive territory.

As the JPM strategist continues, this high futures to spot spread is likely a function of the high “risk-free” rate or opportunity cost implicit in crypto markets: “Lending USD in crypto markets attracts annual interest rates of 8-10% and this high “risk-free” rate is a common component in the futures vs. spot arbitrage trade across both bitcoin and ethereum futures.” This high “risk-free” rate or opportunity cost is likely a reflection of how “crypto-rich” and “cash-poor” crypto markets still are.

Curiously, and as a post-script to a note we wrote last weekend discussing the steep bitcoin curve, in the case of bitcoin, neither the introduction of ETFs nor the greater institutional participation in the futures market have managed to change the “cash-poor” nature of crypto markets and cause a normalization of the futures to spot spread. Adding to this elevated “risk-free” rate storage costs of around 2% per annum and transaction costs, as a result of relative more fragmented crypto markets, “one can easily see why futures to spot spreads of around 15% per annum could be justified.”

Translation: as soon as the profit-taking turmoil is over, watch as institutions flood to bid up Bitcoin and Ethereum spot while shorting 2M futures to pick up what is literally a risk-free 20% annualized carry.

end

Chinese aluminum soars to an 11 yr high as authorities curb energy use to smelters

(zerohedge)

Chinese Aluminum Price Soar To 11-Year Highs As Decarbonization Efforts Slash Energy To Smelters 

 
FRIDAY, APR 16, 2021 – 09:20 PM

Chinese aluminum prices moved higher Friday, hitting an 11-year high, exchange data showed, as Beijing embarks on the road to decarbonization, a move that has reduced energy to the power-hungry smelting hub located in Inner Mongolia, even as new capacity came on online, according to Mining.com

The benchmark price for aluminum on the Shanghai Futures Exchange stood at 18,025 yuan ($2,764) per metric ton, an 11-year high. 

In terms of dollars, SHFE aluminum futures printed at 2,800 per metric ton, a critical resistance level dating back more than a decade ago. 

Analysts believe the price surge in aluminum is due to Bejing’s curb on aluminum output in the Xinjiang Uyghur autonomous region to reduce carbon dioxide emissions. 

According to Mining.com,

Primary aluminum output in the world’s top producer was up 8.5% year-on-year at 3.28 million tonnes in March, the National Bureau of Statistics said, beating the previous monthly high of 3.27 million tonnes reached in December 2020.

High prices are incentivizing production, with Shanghai aluminum mostly holding above 17,000 yuan a tonne in March.

Prices hit an 11-year high of 18,460 yuan on Friday.

In July, aluminum for delivery was down 0.35% on Friday morning after futures touched $2.355 a tonne on the Comex market in New York.

Meanwhile, the output of a group of 10 nonferrous metals – including copper, aluminum, lead, zinc, and nickel – rose 12.7% year-on-year in March to 5.48 million tonnes, the bureau said.

However, daily aluminum output eased in March from the previous two months, Reuters calculations based on official data showed, dropping to around 105,800 tonnes per day versus 109,300 tonnes per day for January/February, a record.

“March’s record output is due to a 500,000 tonne per year ramp-up of new capacity in the first quarter, offsetting the Inner Mongolia curbs,” CRU analyst Wan Ling told Reuters.

“Some idle capacity has restarted or is going to restart, April production should be still a bit higher compared with March,” Wan said.

“Data do indicate that China still has a considerable appetite for commodities,” Commerzbank analyst Daniel Briesemann said in a note.

Consultancy AZ China estimates 279,000 tonnes of annual aluminum capacity across seven smelters were shut due to the energy curbs, exceeding its estimate of 130,000 tonnes of new capacity launched in China last month, all in Yunnan.

China’s two-decade run as an aluminum juggernaut is running out of road. Decarbonization initiatives have reduced power to smelters as some are having trouble keeping up with demand as the country’s manufacturing sector experiences a growth spurt. 

Domestic supply-chain stress are certainly developing in China as green policies start to kick in. 

… and the one question we have is how will base metals react if China’s credit impulse begins to slip?

A slowdown in credit creation would have dire consequences for commodity prices that have experienced a rip roar rally for nearly a year si

 

nce the pandemic began following global central banks and countries pumping trillions of dollars into the respective economies.

 

end

FROM  JOHN ADAMS…

 
 

 
John Adams
 
@adamseconomics
BREAKING

 

 

🚨

In the past week, according to

, the Toronto Dominion Bank DEFAULTED on their SYNTHETIC SILVER CERTIFICATES!

stood for delivery of 1,000 ounces & was told there is NO SILVER! AVOID SYNTHETIC SILVER AT ALL COSTS! ACQUIRE PHYSICAL!

Quote Tweet
George Arnold
 
@GeorgeA69581935
·
Replying to @adamseconomics and @PeterSchiff
Toronto Dominion Bank is refusing to redeem Silver certificates for silver. But they will redeem for cash.
 
END
 
 TO WHICH CHRIS POWELL IS WRITING TO TORONTO DOMINION BANK FOR AN EXPLANATION
 
 
 
 
 
I have just written to TD Bank’s media office about this, seeking comment.

 

 
cp
 


 
—–
 
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
7 Villa Louisa Road
Manchester, Connecticut 06043-7541
USA
 
Office: 860-646-7383
Mobile: 860-305-4013
END

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

i) Chinese yuan vs USA dollar/CLOSED UP at 6.5078 /

//OFFSHORE YUAN:  6.5073   /shanghai bourse CLOSED UP 50.93 pts or 1.49%

HANG SANG CLOSED UP 136.44 PTS OR 0.47% 

2. Nikkei closed UP 2.00 POINTS OR  0.01%

3. Europe stocks OPENED ALL GREEN EXCEPT GERMAN DAX /

USA dollar index  DOWN TO 91.12/Euro RISES TO 1.2033

3b Japan 10 year bond yield: FALLS TO. +.085/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 108.14/ 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 ABOVE 17,000

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

3e WTI:: 62.96 and Brent: 66.59

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

3g Japan is to buy the equivalent of 108 billion uSA dollars worth of bond per month or $1.3 trillion. Japan’s GDP equals 5 trillion usa./“HELICOPTER MONEY” OFF THE TABLE FOR NOW /REVERSE OPERATION TWIST ON THE BONDS: PURCHASE OF LONG BONDS AND SELLING THE SHORT END

Japan to buy 100% of all new Japanese debt and by 2018 they will have 25% of all Japanese debt. Fifty percent of Japanese budget financed with debt.

3h Oil DOWN for WTI and DOWN FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.24%/Italian 10 Yr bond yield UP to 0.77% /SPAIN 10 YR BOND YIELD UP TO 0.41%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.01: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.88

3k Gold at $1781.70 silver at: 26.05   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 67/100 in roubles/dollar) 76.28

3m oil into the 62 dollar handle for WTI and 66 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 108.14 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 .9138 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.0997 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 0.24%

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 1.583% early this morning. Thirty year rate at 2.268%

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

6.  TURKISH LIRA:  DOWN  TO 8.08..

US Futures Dip From Record As Chinese Stocks Soar

 
MONDAY, APR 19, 2021 – 08:01 AM

US equity futures slipped from record highs, European stocks held steady at the start of a new week and Chinese stocks soared the most in five weeks, as investors awaited a fresh round of corporate earnings with global shares sitting at record highs. The dollar slid following the crypto rout over the weekend. Gold rose and oil was flat.

At 07:30 a.m. ET, Dow E-minis were down 81points, or 0.24%, S&P 500 E-minis were down 10.75 points, or 0.26%, and Nasdaq 100 E-minis were down 46points, or 0.3% after briefly rising above Friday’s close during the European morning. Notable movers included Activision Blizzard and PayPal which fell in premarket trading. Tesla slid 1.6% following a deadly crash involving a 2019 Model S that no one appeared to be driving. IBM and United Airlines are due to report.

Looking at global markets, the MSCI world equity index climbed to a new peak, up 0.2% despite the weakness in US futures. Blockbuster economic data from China and the US last week pushed the MSCI All-Country World Index to another record despite concerns surrounding the spread of Covid-19 variants. New infections in the past week surpassed 5.2 million, the most since the pandemic began, with emerging markets (i.e. India, Brazil) getting hit the hardest.

A pullback in 10-year bond yield from 14-month highs in April has also eased worries about higher borrowing costs, renewing interest in richly valued technology stocks. As Goldman explained over the weekend, the risk of another destabilizing increase in borrowing costs has also subsided, as bond yields have pulled back from recent highs amid rising investor concerns that the peak of the stimulus surge is now behind us. This week traders will look for further confirmation of the private sector’s recovery from the pandemic as the earnings season gathers pace.

And speaking of economic data, it takes a back seat this week to earnings as 79 S&P 500 companies report results this week including Johnson & Johnson, Netflix Inc, Intel Corp, Honeywell and Schlumberger.

“Our current view is that with short-term interest rates set to remain low for the medium term and our expectation that earnings will continue to increase, it is unlikely that the increase in long-term interest rates will trigger an equity market fall,” Russel Chesler, head of investments and capital markets at VanEck Australia, said in a note.

Europe’s STOXX 600 rose to a record high before easing some gains, and was flat at last check erasing earlier gains. Here are some of the biggest European movers today:

  • Juventus shares rise as much as 14%, the most in a year after the Italian soccer club joins some of the game’s wealthiest teams in announcing plans for a new “super league” that could transform revenue streams at the top level of the sport.
  • Arjo shares rise as much as 9.6% to a record high, as Swedish business daily Dagens Industri reiterates its recommendation to buy the shares of the medical-equipment maker.
  • Danone shares rise 1.2% after Bernstein notes that a sector rotation from consumer staples to those benefiting from economic reopening appears to be finished. The firm also raises the price target for the French food-processing company.
  • L’Oreal shares rise 1.3%. The company’s progress with e-commerce will help margins in the years to come, according to Goldman Sachs, which boosts the French beauty-products maker’s PT to a Street high while adding the stock to its “Conviction List.”
  • Pantheon Resources shares fall as much as 54%, the most since April 2018, after saying that the Kuparuk formation in Alaska was more “geologically complex” than expected.
  • Piraeus shares fall 30% to a record low as it resumes trading after reverse split and par value adjustment, with EU4.784 adjusted opening price.

Matthias Scheiber, global head of portfolio management at Wells Fargo Asset Management cited low interest rates, the rollout of COVID-19 vaccines and the fiscal stimulus package in the United States as reasons for his bullish stance on equities.

“Risk is coming down, volatility is coming down … we see the slow reopening of global economies, the rollout of the vaccine and the huge catch-up in demand so from that perspective it should be positive for economic growth. We had a strong rally in cyclical and value stocks since the start of this year – we would like to see confirmation in the earnings.”

Earlier in the session, Asian stocks rose after a dip in early trading, led by Chinese stocks that had their best day in five weeks. The MSCI Asia Pacific Index is set to climb for the fifth straight session, its longest winning streak in more than two months, amid lower longer-term U.S. Treasury yields. Health care and materials led gains for the gauge, which was up as much as 0.5%.

China’s CSI 300 Index closed 2.4% higher to become the region’s best performing major national benchmark amid easing concerns about the health of state enterprise China Huarong Asset Management, the country’s iconic distressed-debt manager which itself is so distressed  many speculated Beijing will let if fail. China’s financial regulator on Friday said Huarong had ample liquidity, the first official comments since the company missed a deadline to report earnings. Ebbing fears of contagion drove a rally in Huarong bonds.

Also in China, shares of automakers jumped on Huawei’s plan to invest in car technologies, while electronics firms rose ahead of Apple’s first product unveiling of 2021. Japan’s Topix ended the day down 0.2% as the governors of Tokyo and Osaka considered declaring another virus emergency as infections surge. The country posted a double-digit gain in exports for the first time in more than three years in March, official data showed Monday. India’s Sensex index slid 1.8%, the worst performer in Asia, as daily new coronavirus infections continue to top previous highs.

Wells Fargo Asset Management’s Matthias Scheiber said “We believe we are in the ‘buy the dip’ environment at this moment given that both fiscal and monetary policy are very supportive, so if we would see a correction … we would probably increase the equity position.”

In rates, the benchmark U.S. Treasury yield, which dropped as low as 1.528% last Thursday, was at 1.5782%. Yields were lower by less than 1bp across the curve within spreads likewise little changed; 10-year TSY outperforming bunds by ~2bp while broadly keeping pace with gilts. Treasuries held small gains with S&P 500 futures under pressure despite strong gains for Chinese stocks. Options activity picked up during Asia session, including large trades in 5- and 10-year tenors.  Overnight UST options activity included large bearish block trade via Jun21 10-year put spread and 5-year blocks re-jigging a big short position. Another heavy corporate new-issue slate is expected this week, a possible source of hedging flows.

In FX, the greenback fell against all of its G10 peers while the euro rose beyond $1.2030, the highest since March 4, amid news that Pfizer and BioNTech will supply the EU with an additional 100 million vaccine doses this year; Treasuries gained, outperforming bunds. The pound rose for a sixth straight session against the U.S. dollar, as the U.K.’s swift vaccination program and reopening schedule continued to bolster investor confidence. The yen also advanced as renewed tensions between U.S. and Russia spurred demand for haven assets; China rejected criticism from U.S. and Japanese leaders, adding to the risk-off sentiment. Australia’s dollar erased a drop as a rally in iron-ore prices offset weakness fueled by rising U.S.-China tensions.

“We have been highlighting over the past two months that USD could bottom out, in contrast to consensus, and believed that this would be a tactical problem for EM and for certain commodity trades,” wrote JP Morgan’s head of global and European equity strategy, Mislav Matejka, in a note to clients. “We think the risk of a firmer USD, through rising US-Europe interest rate differential, is not finished.”

Matejka also said that, although there is the technical potential for a correction in equities, he would not cut stocks exposure on the six- to nine-month horizon: “We think that it is more likely that we will be raising our year-end targets, rather than reducing them, as we move through the summer,” he said.

In commodities, oil prices fell as rising COVID-19 infections in India prompted concern than stronger measures to contain the pandemic would hurt economic activity. A recent surge in COVID-19 cases could see major parts of Japan slide back into states of emergency, with authorities in Tokyo and Osaka looking at renewed curbs.

Bitcoin was up 1% at around $56,850, nursing losses from Sunday, when it plunged as much as 14% to $51,541.

Looking at the week’s events, economic data is sparse and no Fed speakers scheduled ahead of April 28 FOMC meeting. Instead attention will be on earnings from IBM which are due later in the session. Netflix reports on Tuesday. Later in the week, American Airlines and Southwest will be the first major post-COVID cyclicals to post results. The European Central Bank meeting on Thursday will also be in focus this week. ECB President Christine Lagarde said last week that the euro zone economy is still standing on the “two crutches” of monetary and fiscal stimulus and these cannot be taken away until it makes a full recovery.

Market Snapshot

  • S&P 500 futures down 0.1% to 4,172.00
  • MXAP up 0.3% to 209.28
  • MXAPJ up 0.3% to 697.59
  • Nikkei little changed at 29,685.37
  • Topix down 0.2% to 1,956.56
  • Hang Seng Index up 0.5% to 29,106.15
  • Shanghai Composite up 1.5% to 3,477.55
  • Sensex down 1.7% to 47,982.83
  • Australia S&P/ASX 200 little changed at 7,065.64
  • Kospi little changed at 3,198.84
  • German 10Y yield fell 0.6bps to -0.268%
  • Euro up 0.3% to 1.2024
  • Brent Futures down 0.1% to $66.70/bbl
  • Gold spot up 0.5% to $1,785.97
  • U.S. Dollar Index down 0.40% to 91.19

Top Overnight News from Bloomberg

  • Markus Soeder’s bid to lead Angela Merkel’s conservative bloc into September’s German election is gathering pace, with Monday’s imminent announcement by the Greens of their chancellor candidate adding to pressure to end the deadlock
  • Russia hit back defiantly after the U.S. warned of “consequences” if jailed opposition leader Alexey Navalny dies on hunger strike, deepening the conflict over the dissident who’s already survived an alleged assassination attempt
  • China sought to allay fears it wants to topple the dollar as the world’s main reserve currency as Beijing makes bigger strides in creating its own digital yuan
  • Deutsche Bank AG is replacing its global pricing engine for emerging-market currencies in London with one in Singapore, drawn by surging trading in Asia and the increasing importance of the Chinese yuan
  • The mania that drove crypto assets to records as Coinbase Global Inc. went public last week turned on itself on the weekend, sending Bitcoin tumbling the most since February
  • U.K. house prices surged to a record this month with a tax break on purchases and rock-bottom interest rates prompting a “buying frenzy,” the property website Rightmove said
  • The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers.

A quick look at global markets courtesy of Newsquawk

Asian equity markets began the week with mostly cautious gains and US equity futures marginally pulled back from record highs with participants tentative ahead of further earning updates this week, and as COVID-19 uncertainty lingered after the number of global cases last week increased by over 5.2mln, which was a record despite the ongoing vaccination drive. However, there were comments from NIH’s Dr Fauci that a decision on whether to resume administering the Johnson & Johnson COVID-19 vaccine could occur as soon as Friday and that he would not be surprised if it is resumed in some form. ASX 200 (+0.2%) was positive with the kept afloat by outperformance in mining-related sectors and with M&A developments providing encouragement following news of a merger between Galaxy Resources and Orocobre, as well as reports that Crown Resorts received an unsolicited proposal on behalf of funds managed by Oaktree Capital. Nikkei 225 (+0.2%) initially swung between gains and losses as pressure from currency inflows was offset by stronger than expected trade data – including the largest increase in exports since November 2017 – and although Japanese stocks eventually improved, Toshiba shares were left in the lurch after CVC was said to plan a delay in submitting a formal proposal to acquire the Co. Hang Seng (+0.8%) and Shanghai Comp. (+1.3%) shrugged off the flat open and the continued US-China verbal jousting, to outperform their regional peers with the Hang Seng extending above the 29k level and strength seen in Chinese automakers after Huawei unveiled its intelligent driving system. There were also constructive comments regarding China Huarong Asset Management in which the CBIRC Vice Head stated the Co. is currently operating normally with ample liquidity and Chinese regulators were also said to have asked some banks not to withhold loans to the Co., while India’s NIFTY (-2.4%) was heavily pressured amid ongoing rampant COVID-19 cases which hit a fresh record high and with the capital of New Delhi said to have less than 100 ICU beds available in the entire city. Finally, 10yr JGBs were slightly higher amid the mild gains in T-notes and a relatively tepid BoJ purchase announcement totalling JPY 500bln mostly concentrated in 3yr-5yr maturities, while Aussie yields were also relatively unmoved after the RBA announcement to purchase AUD 2bln of government bonds.

Top Asian News

  • Packer Gets Crown Exit Path With $2.3 Billion Oaktree Offer
  • China Stocks Book Best Day in 5 Weeks as Tech, Car Firms Gain
  • Top India Homebuilder Drops in Debut After Decade-Long IPO Wait
  • Chinese Travel Site Trip.com Rises 4.6% in Hong Kong Debut

European equities kick off the trading week with another mixed/directionless session thus far (Euro Stoxx 50 -0.1%) despite the positive APAC handover, and amidst a lack of fresh catalysts as participants continue to ponder over the rising COVID cases globally alongside the broader recovery with the vast fiscal and monetary support present. US equity futures meanwhile are somewhat varied and have a negative bias, with the ES and NQ flat whilst the cyclically-driven RTY narrowly lags. Analysts at JPM noted that some technical and sentiment indicators are becoming stretched after the recent run higher across stocks. That being said, the analysts say they would not be reducing stocks exposure on a six-to-nine month horizon whilst acknowledging the potential for a technical correction – JPM continue to see dips as buys. Back to Europe, cash markets see no major outlier in terms of performance whilst sectors are similarly mixed, with outperformance seen Travel & Leisure whilst the early gains in the Auto sector, following the 2021 Shanghai Motor Show, faded with the sector now the laggard. Overall the sectors do now portray and over-arching theme. In terms of individual movers, ABN AMRO (+1.4%) trades firmer after the Co. has accepted the payment of EUR 480mln to settle an anti-money laundering investigation. Bayer (+1.4%) is also supported as the US FDA granted Orphan Drug status for Co’s Aliqopa for chronic lymphocytic leukaemia and small lymphocytic lymphoma. Conversely, CNH Industrial (-5.1%) sits at the foot of the Stoxx after it terminated discussions with FAW Jiefang around the On-Highway business, but will still continue with plans to spin-off the unit from 2022 onwards.

Top European News

  • HSBC Top Staff to Hot Desk After Scrapping Executive Floor
  • Juventus Stock Jumps Most in a Year Amid Super League Plan
  • Pfizer, BioNTech to Supply EU With 100M Additional Doses in 2021
  • Piraeus Bank Falls 30% After Share Capital Increase Terms

In FX, the Dollar and index have extended declines across the board as US Treasury yields maintain a mild bull-flattening bias, but also on increasingly bearish technical momentum as several Buck/major pairings breach key and psychological levels and the DXY itself breaches 91.500 to probe support around 91.300 within a 91.748-125 band. However, the index and Greenback in general may benefit from underlying bids into 91.000 given that the 100 DMA is in very close proximity at 91.019 today.

  • JPY/NZD/AUD – Better than expected Japanese trade data could be helping the Yen compound gains vs its US counterpart, and at this stage 108.00 appears far more achievable than a rebound towards 108.50 where the base of decent option expiry interest resides (1.9 bn from the half round number up to 109.65 to be precise). Meanwhile, the Kiwi and Aussie are taking advantage of their US peer’s predicament to form firmer bases above 0.7150 and 0.7750 respectively ahead of RBA minutes and NZ Q1 CPI on Tuesday.
  • CHF/EUR/GBP/CAD – Little sign of Franc buyers getting twitchy about a relatively big rise in Swiss sight deposit balances at domestic banks, as Usd/Chf tests 0.9150 and Eur/Chf eyes 1.1000 even though the single currency has made light work of breaching supposed option barriers at 1.2000 against the Dollar. Elsewhere, Cable is approaching 1.3900 after holding just above the big figure below and the Pound is starting the new week in a much better position vs the Euro after the cross reached circa 0.8719 last Friday, with Eur/Gbp now pivoting 0.8650. Similarly, the Loonie has turned the tables on its US rival to regain 1.2500+ status in advance of Canada’s first Federal Budget since 2019 then CPI and the BoC on Wednesday.
  • SCANDI/EM/PM – The Nok and Sek have picked up where they left off last week, on the front foot, with the former outperforming through 10.0000 vs the Eur and latter straddling 10.1000, while most EM currencies are benefiting from Usd weakness bar the Rub that remains below 76.0000 amidst ongoing investor jitters about Russia’s deteriorating international relations and stand-off with Ukraine. Turning to commodities, Xau has taken a bit of a breather before continuing its march to just over Usd 1788/oz with bullish chart impulses embellished by China reportedly allowing banks to import some 150 tonnes of Gold this month and in May.

In commodities, yet another choppy European morning for WTI and Brent front-month futures and within relatively tight ranges as markets await a concrete fundamental catalyst to latch onto. Participants in the interim will continue to balance the geopolitics with vaccination hurdles and rising COVID cases across some economies – with India and Canada recently telegraphing a worsening situation, with the former cancelling UK PM Johnson’s visit whilst its capital New Delhi announce fresh lockdown measures alongside some speculation pointing to India being put on the UK’s travel red list. Note that this comes ahead of next week’s JMMC/OPEC+ meeting in which eyes will be on any need to alter the output quotas set through July, with production set to steadily increase amid a projected rise in summer demand. The geopolitical landscape meanwhile remains mixed but fluid as ever, with sanguine rhetoric initially emanating from the Iranian JCPOA talks, although Tehran later suggested that negotiations still remain difficult. Elsewhere, developments regarding Russia have been abundant with Kremlin-critic Navalny now seemingly attended to by doctors after US has warned Russia there will be “consequences” if the opposition activist Alexei Navalny dies in jail, whilst EU expressed concern regarding Navalny’s health. Further, Russia is reportedly bolstering its warship presence in the Black Sea amid ongoing tensions with Ukraine and Moscow is also poised to announce a US sanctions list. WTI trades on either side of USD 63/bbl (62.67-63.42/bbl range) whilst its Brent counterpart holds its head above USD 66.50/bbl (66.17-95/bbl range). Spot gold and silver meanwhile glean support from the deteriorating Buck with the former now north of USD 1,775/oz (vs low 1,773/oz) whilst spot silver reclaimed USD 26/oz. In terms of base metals, LME copper has been bolstered further above USD 9,000/t amid the softer Buck, reaching a current peak of USD 9,430/t. Overnight, Singapore iron ore futures surged overnight with traders citing demand from the Chinese steel sector.

US Event Calendar

  • Nothing major scheduled

DB’s Jim Reid concludes the overnight wrap

It’s quite a strange feeling of pride that I feel today given I’m going to get my first Covid jab this afternoon. Maybe its pride at the human achievement, maybe its pride at doing my civic duty. I’m not 100% sure. By tomorrow morning when I’m likely feeling really groggy I’m sure that pride will fade. I nearly became a vaccine refuser as I tried to drive my car yesterday only to find the battery was dead. A call to the breakdown service has fixed this but its a consequence of lockdown as I’ve hardly used my car for 13 months. Thankfully I needed to make rare use of it yesterday or I wouldn’t have discovered the battery problem until just before my 20 mile drive to the vaccination centre. Anyway lets hope I’ll be well enough to be on EMR duties tomorrow.

In terms of markets a more successful vaccination campaign in Europe over the last couple of week has certainty helped the Goldilocks theme for now and the continent looks on surer footing now. In terms of wider markets even risk parity type trades have seemingly made a comeback of late. Indeed Bloomberg data suggests that the S&P 500 and 30yr Treasuries have now both rallied for a fourth week together for the first time since August 2008. So markets are back to being a bit dull for now but pretty buoyant. However positioning is becoming more stretched which should be watched. Our equity strategists reported over the weekend (link here) that their composite measure of US equity positioning is close to record highs (98th percentile). There remains a notable divide between the positioning of discretionary investors, which has moved up to a new peak (100th percentile), while systematic strategies exposure has also risen, but remains near historical median levels (46th percentile). A reminder that they think there is likely to be a 6-10% pull back (link here) when growth peaks which they think will occur over the next 3 months.

While we wait for such excitement we can all live vicariously through the big moves in Bitcoin over the weekend. After being as high as $64,869.78 this past Wednesday it traded as low as $51,707.51 yesterday down around 15% from Friday’s close. As we type its now at $56,987. It’s difficult to work out exactly why the sudden reversal occurred but the online chatter is linking it to speculation that the US Treasury may soon crack down on money laundering that uses digital assets. The market remains in a frenzy though as Dogecoin rose over 110% on Friday. Remember this coin was set up as a joke and was worth more than $50bn at one point over the weekend.

Asian markets have started the week on the front foot with the Nikkei (+0.24%), Hang Seng (+0.80%), Shanghai Comp (+1.30%) and Kospi (+0.26%) all up. Futures on the S&P 500 are down -0.14% while those on the Nasdaq are up +0.11% benefitting form a decline in 10y UST yields (-1.3bps) this morning. In Fx, the Russian rouble (-0.61%) is under fresh pressure this morning after the US warned Russia of “consequences” if jailed opposition leader Alexey Navalny dies. Indeed the geopolitical risks from the Russia story last week did seep into wider markets a little so certainly one to watch

There’s a reasonably eventful calendar for markets this week, with the highlights including Thursday’s ECB meeting and Friday’s release of the April flash PMIs from around the world. Investors will also be paying attention to the latest earnings releases, with a further 80 S&P 500 companies reporting, as well as the continued path of the pandemic as a number of places such as India have faced a big surge in cases. There have been around 5.1mn cases reported across the globe over the past 7 days, the highest weekly increase since the pandemic began. India contributed north of 1.4mn cases to this increase which is also its largest weekly gain and continues to remain the current epicentre of the virus. Elsewhere both Osaka and Tokyo may go into fresh state of emergency conduction as soon as today. On a more positive note, Dr Fauci has said that he expects a decision on how to resume vaccinating Americans with the J&J COVID-19 vaccine will probably come by Friday and added that “I doubt very seriously if they just cancel” the J&J vaccine. We are also expecting that the European Medicines Agency will issue their recommendation on the J&J vaccine over the week ahead.

From central banks, this week’s highlight will be the latest ECB decision on Thursday, along with President Lagarde’s subsequent press conference. In their preview (link here), our European economists write that a change in the policy stance is unlikely, and that a decision on whether or not to maintain the new faster pace of PEPP purchases will be made after a joint assessment of financing conditions and the inflation outlook at the Governing Council’s next monetary policy meeting in June. However, at this point it’s unclear whether they will maintain that higher pace beyond June. Our economists say that although a latent recovery is building and ‘net-net’ issuance (net issuance, net of ECB purchases) ought to turn favourable for rates markets following the Q1 spike, the ECB consensus is cautious and determined to avoid a premature tightening in financing conditions.

Staying on Europe, another important event will take place in Germany today, as the Green party present their first chancellor candidate in the 41-year history of their party. This is an important one to look out for, as the CDU/CSU’s slump in the polls has put them only a few points ahead of the second-place Greens, so it’s no longer implausible that the next German chancellor could come from the Greens following September’s federal election. Our German economists’ full preview can be found here, but their view is that the odds appear slightly tilted towards co-leader Annalena Baerbock being selected. In terms of the election result, our economists still see a CDU-CSU/Green coalition as their baseline scenario, as they expect the Conservatives to regain polling momentum. Talking of which, it’s also possible that the CDU/CSU will agree on who will be their candidate over the next day as Armin Laschet and Markus Soeder have been having behind close door discussions since Friday to hammer out which of them will be on the ticket come September. Overnight, the headlines have leaned more favourably towards Markus Soeder with CDU lawmaker Christian von Stetten suggesting in an interview yesterday that Laschet’s leadership bid would be rejected by the CDU/CSU caucus in a vote on Tuesday if the issue isn’t resolved before then.

On the data front, it’s a lighter week ahead, with the main highlight likely to be at the end of the week with the flash PMIs for April. This will give us an initial indication of how global economic performance has fared at the start of Q2, and there’ll be particular attention on the price gauges as well as investors stay attuned to any signs of growing inflationary pressures. In terms of central banks, there are a few other decisions alongside the ECB, with Canada, Russia and Indonesia all deciding on rates. However, there won’t be any Fed speakers as they’re now in a blackout period ahead of their own meeting the week after.

Earnings season kicks up another gear this week, as 80 companies from the S&P 500 report along with a further 54 from the STOXX 600. Among the highlights include Coca-Cola and IBM today, before tomorrow sees reports from Johnson & Johnson, Procter & Gamble, Netflix, Abbott Laboratories, Philip Morris International and Lockheed Martin. Then on Wednesday we’ll hear from ASML, Verizon, NextEra Energy, and Thursday sees releases from Intel, AT&T, Danaher, Union Pacific and Credit Suisse. Finally on Friday, there’s Honeywell International, American Express and Daimler.

To quickly recap last week, risk markets in Europe and the US continued to set new records as US government yields fell but Europe’s mostly rose possibly due to being past peak European pessimism now vaccine deployment is accelerating. The S&P 500 rose +1.37% on the week (+0.36% Friday), finishing at yet another record high. The index has risen for four straight weeks, the first time that has happened since August. The weekly move was broad based as sectors such as materials, healthcare, and real estate all led gains while technology shares also continued to improve as the NASDAQ rose +1.01% on the week. The tech-concentrated index is within a third of a per cent of its all-time highs. Market volatility has calmed over the last few weeks and this past week the VIX volatility index fell -0.4pts to 16.3 – the lowest levels since the pandemic started. European stocks rose to their own record highs as the STOXX 600 gained +1.20% over the week, with the CAC (+1.91%) and FTSE 100 (+1.50%) outperforming other bourses.

US 10yr yields finished the week -7.9bps lower (+0.4bps Friday) at 1.580% – the third weekly drop in yields over the last four weeks. 30yrs are four in four as discussed at their top. The week’s move was driven by the drop in real yields (-12.4bps) which overcame the increase in inflation expectations (+4.5bps). European rates were more mixed with 10yr bund yields gaining +4.1bps last week and UK gilts falling -1.0bps. There was also a tightening of peripheral spreads in parts of southern Europe as Italian BTPs (-2.1bps) and Spanish bonds (-2.5bps) tightened against 10yr bunds, while Portuguese bonds (+7.9bps) widened.

In terms of economic data from Friday, US housing starts in March was ahead of schedule with 1.739mn (vs 1.613mn expected) new construction after 1.457mn recorded in February. The preliminary University of Michigan consumer sentiment index for April showed a less-than-expected rise to 86.5pts (vs. 89.0pts expected) from 84.9pts. Meanwhile in Europe, new EU car registrations for March was up +87.3% after being down -19.3% in February. The final Euro Area CPI reading for February was +0.9% m/m and +1.3% y/y in-line with earlier estimates.

end

3A/ASIAN AFFAIRS

i)MONDAY MORNING/ SUNDAY NIGHT: 

SHANGHAI CLOSED UP 50.93 PTS OR 1.49%   //Hang Sang CLOSED UP 136.44 PTS OR 0.47%     /The Nikkei closed UP 2.00 POINTS OR 0.01%//Australia’s all ordinaires CLOSED UP 0.03%

/Chinese yuan (ONSHORE) closed UP AT 6.5078 /Oil UP TO 62.96 dollars per barrel for WTI and 66.59 for Brent. Stocks in Europe OPENED ALL GREEN EXCEPT GERMAN DAX //  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.5078. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.5073   : /ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

 

 

3 a./NORTH KOREA/ SOUTH KOREA

NORTH KOREA//USA/

END

b) REPORT ON JAPAN

JAPAN/CHINA TAIWAN

China furious with Japan and the uSA for their attacks on China’s unlawful claims to those South China islands owned by Japan and now their opposition toe the West calling for Taiwan’s independence.

(zerohedge) 

China Outraged At Joint US-Japan Statement Which Invokes ‘Nuclear Defense’

 
SATURDAY, APR 17, 2021 – 10:35 AM

During their late Friday press conference President Biden and Japanese Prime Minister Yoshihide Suga – who is the first foreign leader to visit the White House of the new administration – issued a joint statementlashing out a China for actions that “are inconsistent with the international rules-based order” and impact “peace and prosperity” in the region. Thus it appears the lengthy pressure campaign by the administration to get Suga to agree to sign off on a muscular joint statement aimed at China, particularly at a moment of soaring tensions over Taiwan, paid off.

Included in the White House statement is the following: “We also recognize the importance of deterrence to maintain peace and stability in the region. We oppose any unilateral attempts to change the status quo in the East China Sea. We reiterated our objections to China’s unlawful maritime claims and activities in the South China Sea and reaffirmed our strong shared interest in a free and open South China Sea governed by international law, in which freedom of navigation and overflight are guaranteed, consistent with the UN Convention on the Law of the Sea.”

Friday’s White House joint press event, EPA/EFE

And further on Taiwan specifically the statement added, “We underscore the importance of peace and stability across the Taiwan Strait and encourage the peaceful resolution of cross-Strait issues.”

The Friday statement also said, “The United States restated its unwavering support for Japan’s defense under the U.S.-Japan Treaty of Mutual Cooperation and Security, using its full range of capabilities, including nuclear.”

“Japan resolved to bolster its own national defense capabilities… The United States restated its unwavering support for Japan’s defense… using its full range of capabilities, including nuclear,” it underscored. 

As expected this has riled Beijing, which responded with fierce rhetoric of its own, with China’s embassy in the United States saying in the end both Japan and the US will end up “harming themselves”…

The remarks have “completely gone beyond the scope of the normal development of bilateral relations”, harming the interests of third parties as well as peace and stability in the Asia-Pacific, the embassy said.

The move was an attempt to split the region that “will inevitably proceed with the purpose of harming others and end in harming themselves”, it added.

The embassy further repeated that the statement encourages separatist activities on the island that it’s long claimed as belonging to the mainland while interfering in China’s affairs, as echoed in reporting by state-run CGTN news channel.

Up until the late Friday afternoon White House presser, many Japanese officials were earlier said to be deeply concern that a joint Taiwan statement with Biden would unnecessarily antagonize China but with no immediate strategic gains. They see the recent statements issued during the visit of Secretary of State Antony Blinken and Defense Secretary Lloyd Austin to Japan as enough. That prior statement had emphasized the “importance of peace and stability in the Taiwan Strait.”

END

3 C CHINA

CHINA/

In Huge Reversal, China Now Calls Bitcoin “Investment Alternative” After Years Of Crackdowns

 
MONDAY, APR 19, 2021 – 10:29 AM

With both India and Turkey cracking down on bitcoin, is China set to warm to the cryptocurrency that it has been waging a not so quiet capital control war with for the past four years? In a dramatic and material shift in Beijing’s tone after a crackdown on cryptocurrency issuance and trading nearly four years ago, CNBC reported that China’s central bank is now calling bitcoin an “investment alternative.”

 

Industry insiders called the comments “progressive” and are watching closely for any regulatory changes made by the People’s Bank of China.

“We regard Bitcoin and stablecoin as crypto assets … These are investment alternatives,” Li Bo, deputy governor of the PBOC, said on Sunday during a panel hosted by CNBC at the Boao Forum for Asia.

“They are not currency per se. And so the main role we see for crypto assets going forward, the main role is investment alternative” he added.

Whereas back in 2017, China was the world’s largest buyers of bitcoin as local savers and speculators used crypto to bypass China’s great capital firewall, Beijing promptly cracked down on this practice and not only banned so-called initial coin offerings but also shut down local cryptocurrency exchanges. The moves were prompted by concerns about financial stability. As a result, most of the recent activity has been driven by the US, not Asia… but that could soon change.

As investment alternatives, “many countries, including China, are still looking into it and thinking about what kind of regulatory requirements. Maybe minimal, but we need to have some kind of regulatory requirement to prevent … the speculation of such assets to create any serious financial stability risks,” Li said. He added that the central bank will keep its current regulations on cryptocurrencies.

As CNBC notes, Li’s latest comments highlight a potential shift in tone from the PBOC.

Flex Yang, CEO and founder of Babel Finance, called the comments “progressive” in an interview with CNBC on Monday. Babel Finance is a crypto financial services company.

“I think it is quite significant and is definitely different to their previous statements or positions on public cryptocurrencies,” Vijay Ayyar, head of business development at cryptocurrency exchange Luno, told CNBC by email.

“Governments are realizing that it is a viable and established, yet growing, asset class and need to regulate it. China regulating crypto would be another massive boost to the industry in China and globally,” Ayyar said, talking about the motivation behind the PBOC’s shift in tone. To be sure, China is not alone in changing its mind about bitcoin: over the past 4 years, Bitcoin has transformed from being purely a retail-favored asset and has become more mainstream in the financial world, gaining interest from institutional investors. Major corporations such as Tesla and Square in the U.S. have purchased large sums of bitcoin.

* * *

One possible reason for the huge shift in Chinese sentiment: as we reported two weeks agoChina has started to encourage more capital outflows to ease pressure on the Yuan.

“Amid the continued appreciation of the yuan since June 2020, China’s foreign exchange policies have focused on increasing the flexibility of the exchange rate, expanding capital outflows and controlling capital inflows,” Guan Tao, chief global economist at BOC International Co. Ltd. wrote in a Feb. 23 report (link in Chinese) on the preliminary balance of payments data. He said he expected this foreign-exchange policy mix to continue as the “orderly expansion of capital outflows is an important policy tool to cope with the appreciation pressure on the yuan.”

Or as we said on April 3…

In other words, don’t be surprised to see a fresh flood of Chinese real-estate buyers in Vancouver, California and the Tri-State area. Also, don’t be surprised to see a reversal in China’s long-running feud with Bitcoin as Beijing realizes that there is no better way to send money offshore than through crypto.

Two weeks later this is what appears to be taking place.

Separately, a reminder that China is working on its own digital currency called the digital yuan, and is widely seen as the frontrunning among all of its central bank peers in the transition from fiat to digital. The aim is to replace cash and coins in circulation.

end

4/EUROPEAN AFFAIRS

VACCINE UPDATE/MANCHESTER UK

35 yr old nurse dead after taking the 2nd dose of Pfizer’s Covid vaccine

(zerohedge)

35-Year-Old Nurse and Mother of 2 DEAD Following Pfizer Experimental COVID Injections in UK

 

by Brian Shilhavy
Editor, Health Impact News

The UK Press is reporting that a 35-Year-Old nurse who was “fit and healthy” has died, alone, after receiving both Pfizer experimental COVID shots.

She leaves behind her husband and two young boys.

The Manchester Evening News reports:

The family of a young mum ‘who had everything to live for’ say they are heartbroken after she died from a rare brain condition.

Rachel McKinney, 35, leaves behind her husband Kevin, stepson and two sons aged 8 and 12, after her tragic death on April 3.

The care home nurse from Stockport began developing symptoms of confusion, and slurred speech in February this year.

She had received both doses of the Pfizer vaccine in December and January and reported classic side effects, her sister Gemma said.

But a month later, her family became increasingly concerned as she displayed signs of a stroke, and Rachel was advised by 111 to attend Stepping Hill Hospital.

Due to Covid restrictions, her family were not allowed to accompany Rachel, and received a text to say she’d had an MRI scan which showed she had inflammation of the brain.

The mum-of-two was transferred to Salford Royal Hospital eight days later when a bed became available.

Her condition had quickly deteriorated, Gemma said.

“In the first few days she was mobile and able to leave the ward and go and sit in the car with her husband and sons,” she said.

“Then she lost her mobility and couldn’t leave the hospital and so she wasn’t able to see anyone.

“She couldn’t speak and lost all movement in her body. She was on Facetime to her family crying.”

After arriving at Salford Royal Hospital, Rachel started suffering from seizures, and a decision was made to place her into a coma.

Gemma claims the information her family received from the hospital ‘wasn’t great,’ and said they received very little information about her condition.

“Nobody was able to see her before she went into the coma – she was on her own with no family there,” Gemma said.

“The hospital told her husband and her mum that her condition was terminal over the phone and my mum couldn’t even hear.”

Sadly, Rachel passed away on April 3 – a few days after doctors made the decision to turn off her life support machine.

Read the full article at the Manchester Evening News.

end
CORONAVIRUS UPDATE/VACCINE UPDATE/UK
data so far collected on the COVID vaccines reactions:
(COURTESY VACCINE IMPACT)

847 Deaths 626,087 Injuries Recorded in the UK During 4 Months of Experimental COVID “Vaccines”

 

 

 

by Brian Shilhavy
Editor, Health Impact News

The UK Government’s reporting system for COVID vaccine adverse reactions from the Medicines and Healthcare products Regulatory Agency released their latest report today, April 15, 2021.

The report covers data collected from December 9, 2020, through April 9, 2021, for the two experimental COVID vaccines currently in use in the U.K. from Pfizer and AstraZeneca.

They report a total of 847 deaths and 626,087 injuries recorded following the experimental vaccines.

521 of the 847 deaths followed AstraZeneca COVID injections, and 492,105 of the 626,087 injuries followed AstraZeneca COVID injections.

Two countries, Norway and Denmark, have now completely halted injections of COVID shots by AstraZeneca, with the Norwegian Institute of Public Health stating that the AstraZeneca experimental shots are associated with a higher risk of injury and death than the COVID-19 virus. See:

Norway Stops Experimental AstraZeneca COVID Shots: “Higher Risk Associated with AstraZeneca Vaccine than from COVID-19 Disease”

Other European countries have also temporarily halted the AstraZeneca shots while they review safety data, but the UK has never halted injecting people with the shot causing fatal blood clots, and the reported events of death and injuries following AstraZeneca shots in the UK seem to suggest perhaps they should have halted it by now.

The latest UK COVID-19 mRNA Pfizer- BioNTech vaccine analysis report:

  • 4210 Blood disorders including 1 death
  • 1675 Cardiac disorders including 46 deaths
  • 12 Congenital disorders
  • 1374 Ear disorders
  • 28 Endocrine disorders
  • 2034 Eye disorders
  • 14,140 Gastrointestinal disorders including 15 deaths
  • 38,968 General disorders including 130 deaths
  • 35 Hepatic disorders
  • 723 Immune system disorders including 1 death
  • 3070 Infections including 57 deaths
  • 847 Injuries including 2 deaths
  • 1525 Investigations including 1 death
  • 821 Metabolic disorders including 1 death
  • 17,756 Muscle & tissue disorders including
  • 60 Neoplasms including 1 death
  • 24,917 Nervous system disorders including 23 deaths
  • 63 Pregnancy conditions including 3 deaths
  • 2115 Psychiatric disorders
  • 340 Renal & urinary disorders including 2 deaths
  • 768 Reproductive & breast disorders
  • 5537 Respiratory disorders including 26 deaths
  • 9622 Skin disorders including 1 death
  • 35 Social circumstances
  • 100 Surgical & medical procedures
  • 1724 Vascular disorders including 4 deaths

Total reactions for the COVID-19 mRNA Pfizer- BioNTech vaccine314 deaths and 132,528 injuries

The latest UK COVID-19 vaccine Oxford University/AstraZeneca analysis report:

  • 3681 Blood disorders including 3 deaths
  • 4867 Cardiac disorders including 64 deaths
  • 57 Congenital disorders
  • 3856 Ear disorders
  • 96 Endocrine disorders
  • 6357 Eye disorders
  • 51,326 Gastrointestinal disorders including 7 deaths
  • 167,736 General disorders including 221 deaths
  • 137 Hepatic disorders including 1 death
  • 1495 Immune system disorders including 1 death
  • 9794 Infections including 53 deaths
  • 3305 Injuries including 1 death
  • 5878 Investigations
  • 5891 Metabolic disorders including 3 deaths
  • 61,025 Muscle & tissue disorders
  • 116 Neoplasms including 2 deaths
  • 105,996 Nervous system disorders including 76 deaths
  • 66 Pregnancy conditions
  • 9124 Psychiatric disorders including 1 death
  • 1396 Renal & urinary disorders including 1 death
  • 1465 Reproductive & breast disorders
  • 14,344 Respiratory disorders including 55 deaths
  • 28,397 Skin disorders including 1 death
  • 123 Social circumstances including 1 death
  • 359 Surgical & medical procedures including 1 death
  • 5153 Vascular disorders including 29 deaths

Total reactions for the COVID-19 vaccine Oxford University/AstraZenec vaccine: 521 deaths and 492,105 injuries.

For the COVID-19 vaccine brand unspecified analysis they report:

  • 13 Blood disorders including 3 deaths
  • 10 Cardiac disorders including 2 deaths
  • 14 Ear disorders
  • 23 Eye disorders
  • 148 Gastrointestinal disorders
  • 485 General disorders including 4 deaths
  • 2 Hepatic disorders
  • 6 Immune system disorders
  • 28 Infections including 1 death
  • 14 Injuries
  • 20 Investigations
  • 35 Metabolic disorders
  • 160 Muscle & tissue disorders
  • 307 Nervous system disorders
  • 35 Psychiatric disorders
  • 10 Renal & urinary disorders
  • 6 Reproductive & breast disorders
  • 36 Respiratory disorders including 2 deaths
  • 88 Skin disorders
  • 1 Social circumstance
  • 13 Vascular disorders

Total reactions for the COVID-19 vaccine brand unspecified vaccines: 12 deaths and 1454 injuries.

The UK Medicines and Healthcare products Regulatory Agency concludes:

  • Vaccines are the best way to protect people from Covid-19 and have already saved thousands of lives. Everyone should continue to get their vaccination when asked to do so unless specifically advised otherwise.
  • As with all vaccines and medicines, the safety of COVID-19 vaccines is being continuously monitored .
  • Cases of an extremely rare specific type of blood clot with low blood platelets continue to be investigated.

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

RUSSIA/USA

How Putin outsmarted the clueless Biden

(zerohedge)

How Putin’s “Saber-Rattling” Forced A Biden Summit, Bypassing Kiev To Decide Ukraine’s Fate

 
FRIDAY, APR 16, 2021 – 08:00 PM

As the leaders of France, Germany, and Ukraine hold an urgent meeting on Friday to discussing soaring tensions in eastern Ukraine and Russia’s largescale military build-up near the border, Kiev continues to charge Moscow with aggressively stoking conflict:

Addressing a news conference on Thursday, Ukrainian Foreign Minister Dmytro Kuleba condemned the Kremlin’s “aggravation of the security situation” and accused Russian pundits and officials of “openly threatening Ukraine with war and the destruction of Ukrainian statehood”.

And for Ukraine’s part, President Volodymyr Zelensky has been using the crisis to push hard for rapid NATO membership. In his latest statements on Thursday, he tweeted, “I fully agree with [President of Georgia] Salome Zourabichvili that it is time for concrete proposals for Ukraine and Georgia to obtain a NATO MAP and a plan to join the EU.”

And this followed a recent CNN interview wherein Zelensky demanded “more weapons, more money, and more support to join NATO” from Biden.

But given Biden’s recent offer to sit down with Putin for a bilateral summit this summer, which is still on the table, it appears Ukraine’s leadership has been effectively sidelined. As one FT piece underscored this week, Putin’s troop build-up has succeeded in pressuring the Biden administration for a coveted summit to decide the future of Ukraine. 

“The summit format will also please the Kremlin by effectively cutting Kyiv out of any negotiations, and allow Putin to project the image of two global superpowers deciding the future fate of the conflict,” FT observed.

Here’s more from FT…

If Vladimir Putin’s decision to deploy tens of thousands of troops to Ukraine’s border in the past few weeks was driven primarily by a desire to get the west’s attention, he did not have to wait too long for his reward.

Hours after his defense minister on Tuesday admitted Russia had mobilised two armies and three paratroop divisions to positions close to the conflict-wracked frontier, US President Joe Biden phoned the Kremlin with an offer of a bilateral summit: a long sought-after prize for Putin who craves a seat at the world’s highest negotiating table.

…Those 50,000 extra soldiers, scores of tanks and other heavy weaponry spooked Kyiv and other European powers, and sparked a hurried response from Nato and the US amid fears over a potential outbreak of fighting between the two countries

This wasn’t a stand-alone assessment, given also this week BBC came to a similar conclusion.

The BBC commentary underscored that the Russian troop build-up was never ultimately about some kind of hyped “invasion” of Ukraine – as Kiev officials have been shouting – but instead about bringing massive leverage to bear in forcing Biden’s hand. 

To the chagrin of the West’s Russia hawks, the BBC essentially pointed to a major diplomatic victory and ‘checkmate’ of sorts for the Russian side

The build-up has been impossible to ignore: thousands of Russian troops deployed towards Ukraine; US warships reportedly heading for the Black Sea and Russia’s foreign ministry warning them off “for their own good”.

As the hostile rhetoric and military moves around Ukraine have intensified, Western politicians have begun fearing an open invasion and urging Russia’s Vladimir Putin to “de-escalate”.

Russia has refused: the defense ministry this week insisted its moves were in response to “threatening” Nato exercises in Europe.

Then Mr Putin got a phone-call from the White House.

And then, noted the BBC, Biden suggested a near-future face-to-face summit with Putin, which gives Russia the edge given it was the US side that first proposed it:

“In Putin’s game of brinkmanship, Biden blinked first,” argues journalist Konstantin Eggert, after Joe Biden made his first call to the Kremlin and proposed meeting Mr Putin “in the coming months”.

It’s just weeks after the US president agreed with an interviewer that Russia’s leader was “a killer”.

President Biden’s new move is now a new topic of debate – disaster prevention or a mistaken concession – but in the run-up to a summit, the risk of major military action by Russia certainly fades.

“That would be really unstatesmanlike: a slap in Biden’s face,” Mr Eggert told the BBC. “But the fact that it was Biden who suggested they meet does give Putin the edge.”

Or in other words, “In Putin’s game of brinkmanship, Biden blinked first”.

Biden’s hasty offer sparked widespread disappointment and anger among Russia hawks

Eggert had this further to say, telling the BBC: “I think Putin attracted attention, he put himself in the focus not only of Europe but the US administration.” And concluded further of Putin, “He managed to scare them, and he likes doing that.”

But it still remains unclear how Moscow plans to react to Thursday’s major Russia sanctions imposed by Biden. Certainly the punitive actions are intended by Washington to maintain leverage over the Kremlin – but for now it likely means Putin will keep up the pressure in the form of a strong military presence in Crimea, the Black Sea, and along Ukraine’s border. The Kremlin has also reacted with a warning of “no de-escalation” – as Biden called for in his late Thursday address.

END

RUSSIA/UKRAINE

This is huge;  Russia shuts down the Ukraine’s Military access to the Black Sea by shutting down the Kerch Strait.  it will still be open for commercial vessels

(zerohedge)

Russia Shuts Ukraine’s Military Access To Black Sea

 
SATURDAY, APR 17, 2021 – 08:45 AM

It was announced Thursday that Russia will close off the Kerch Strait to all foreign warships for six months amid rising Ukraine tensions, and after the US threatened to send additional warships to the area. The Kerch Strait is the vital, narrow waterway connecting the Black Sea and the Sea of Azov, and which importantly connects southern Russia to “annexed” Crimea.

“Putin will close the Kerch Strait beginning next week until October, blocking foreign warships that are conducting military exercises, including the US, the Ukraine foreign ministry said Thursday,” The New York Post reported. 

The move has enraged Ukraine, which is now accusing Russia of seeking to ‘illegally’ block its ships – especially naval vessels – from accessing the Black Sea, and has protested what it says is a severe violation of norms of ‘freedom of navigation.

 

Kerch Strait, via EPA/TASS

Ukraine’s foreign ministry said “such actions by the Russian Federation are another attempt to violate the norms and principles of international law to usurp the sovereign rights of Ukraine as a coastal state, as Ukraine has the right to regulate navigation in these areas of the Black Sea.”

Moscow has since underscored that it will not impact regional trade, particularly the regional grain trade for which the strait serves as a vital passageway, and that the closure is necessary for “military exercises”. Reuters on Friday cited state sources to detail the following:

The right of passage of foreign warships and “other state ships” will be suspended in three spots near Crimea’s Black Sea coast from April 24 until October 31, RIA said, citing Russia’s defence ministry.

Russia says the strait is not closed to commercial and trade vessels. The closure comes after the Kremlin warned American naval ships to stay away from approaching the Crimea “for their own good”.

Meanwhile, akin to the major 25 November 2018 naval “ramming” incident which saw Ukrainian navy personnel arrested and detained by Russian patrol boats in the Kerch Strait, there’s been new hostile encounters between the two sides this week in the same area, with Ukraine’s military charging that Russia’s Federal Security Service (FSB) tried to aggressively block its vessels.

“Russian FSB boats once again attempted to obstruct the legitimate actions of the Ukrainian Navy’s boat group on combat duty tonight,” the Ukrainian Navy said Thursday. “Despite the Russians’ provocations and the targeted actions, the Ukrainian Navy submarine tactical group continued to perform its tasks.”

All of this points to the increasing likelihood of a new major ‘Kerch Strait incident’ brewing… which could see yet more direct Russia-Ukraine naval clashes, akin to Fall of 2018 and other similar hostile encounters of the past years. 

END

RUSSIA/UKRAINE/TURKEY//THE WEST

A terrific commentary on the history of the Montreaux convention and how Erdogan might want to change it

(Kalman/SouthFront)

Balance Of Power In The Black Sea: Will The Montreux Convention Prevail?

BY TYLER DURDEN
MONDAY, APR 19, 2021 – 02:00 AM

Authored by Brian Kalman exclusively for SouthFront,

The current deterioration of any hopes of a lasting “ceasefire” in the eastern Ukraine, have brought not only the long smoldering conflict back into the forefront of global media attention, but have also presented an opportunity for several geopolitical rivals to take advantage of the situation for their own perceived benefit. Russia responded rapidly to immediate signals from the Kiev government that it fully intended to explore yet another military campaign to resolve the long-standing stalemate in the Donbass and a possible invasion of the Crimean Peninsula.

On March 29th, the Ukrainian Parliament (Verkhovna Rada) officially adopted Resolution No. 5312, which is a clear departure from the Minsk Agreement and labels Russia as the unequivocal aggressor and responsible party for the conflict. Within days, the Ukrainian Armed Forces began moving large amounts of heavy equipment and materiel up to the line of contact and advanced some units within the demilitarized zone. The Zelensky government made very public calls for support from NATO, the United Kingdom and the United States, which were reciprocated in short order. Russia responded with warnings to Kiev to deescalate, coupled with deployments of military units along the south-eastern border with Ukraine, and reinforcement of units tasked with safeguarding the Crimea.

Within a week of the provocative parliamentary vote, over 100 former Turkish Navy officers committed their signatures to an open letter criticizing the Erdogan government’s decisions related to maritime matters and demanded that he maintain Turkey’s commitment to the Montreux Convention. Ten former admirals that signed the letter were swiftly arrested and painted as traitors planning a governmental coup. This story was briefly covered by corporate media, but quickly dropped off the radar. Was this incident aimed at undermining the Erdogan government, or a diplomatic ploy created by the Erdogan government? There are ample reasons to support either assertion. The timing of the incident, in close relation to developments vis-à-vis Russian and Ukraine, are far from coincidental.

Erdogan himself has made a number of statements regarding his administration’s willingness to re-evaluate whether the Montreux Doctrine should be revised or abandoned. Most of these comments were linked to media questions regarding the proposed Istanbul Canal, a $10 billion project that would construct a canal parallel to the busy Bosporus Strait. The Istanbul Canal project has been proposed off and on since 2011, with referrals for proposals from likely contractors solicited since 2013. But why the sudden reinjection of the topic of the Montreux Doctrine in such a dramatic fashion now? The timing seems far from a coincidence.

Although logical allies against a common rival, President Erdogan harbors his own designs for Crimea that do not include Ukraine. (AP Photo/Efrem Lukatsky)

Is Turkey signaling a possible departure from the international compact, signed in 1936, as an attempt to put pressure on Russian efforts to defend Crimea and respond to NATO assurances of support for Ukraine? What benefits would be achieved by Turkey pulling out of the treaty? Ukrainian president Zelensky made an official visit to Turkey and met with Erdogan on April 10th to discuss defense cooperation amongst numerous other topics. Erdogan reiterated his administrations commitment to Ukraine’s national sovereignty yet saw the Minsk Agreement as the vehicle to achieve a solution to the current impasse. He also voiced support for the official inclusion of Ukraine as a full member of the NATO alliance in the future. More than a few mixed messages to say the least.

Montreux Convention: A Brief Overview

The Regime of the Straits as first adopted by signatories in 1936 in Montreux, Switzerland attempted to govern the movement of commercial and military traffic through the Bosporus and Dardanelles Straits. This treaty once adopted, replaced the previous Lausanne Treaty of 1923. Clearly a major diplomatic victory for Turkey, the nation maintained sovereignty over the maritime territory of the Bosporus Strait, Strait of Dardanelles, and the Sea of Marmora and gave it the ability to close this major maritime traffic lane to any belligerent of Turkey in time of war. More importantly, it has minimized the ability of any nation whose territory does not border the Black Sea to transit significant amounts of naval warships into the Black Sea. This was a major concern of many of the signatories at the time of its adoption at the onset of the Second World War, chief amongst them the Soviet Union.

The strategically important maritime bottleneck that is controlled by Turkey and governed by the Montreux Convention. Approximately 50,000 vessels a year move through this waterway, along with 3 million barrels of oil every day.

On one hand, aggregate tonnage limitations imposed on non-Black Sea powers severely limits the size and total number of surface warfare vessels that can transit the straits and enter the Black Sea, and these vessels can only remain in the Black Sea for a period of 21 days. On the other hand, the limitation on movements of vessels through the straits does affect the naval movements of the Black Sea nations. The movement of submarines is significantly hampered by Article 12 as follows:

Black Sea Powers shall have the right to send through the Straits, for the purpose of rejoining their base, submarines constructed or purchased outside the Black Sea, provided that adequate notice of the laying down or purchase of such submarines shall have been given to Turkey.

Submarines belonging to the said Powers shall also be entitled to pass through the Straits to be repaired in dockyards outside the Black Sea on condition that detailed information on the matter is given to Turkey.

In either case, the said submarines must travel by day and on the surface, and must pass through the Straits singly.

Understanding how the limitations imposed by the Montreux Convention affect Russian submarine movements illustrate a major challenge for Russian submarine deployments in the Mediterranean. A Russian naval base capable of major repair, supply and retrofitting is required outside of the Dardanelles (such as Tartus, Syria) is required to facilitate a sustained Russian submarine presence in the Mediterranean.

An additional limitation of significance is the agreement’s prohibition of the transit of aircraft carriers. The Montreux Convention describes an aircraft carrier under Annex II:

Aircraft Carriers are surface vessels of war, whatever their displacement, designed or adapted primarily for the purpose of carrying and operating aircraft at sea. The fitting of a landing-on or flying-off deck on any vessel of war, provided such vessel has not been designed or adapted primarily for the purpose of carrying and operating aircraft at sea, shall not cause any vessel so fitted to be classified in the category of aircraft carrier.

One of the reasons why the Soviet Union classified the Kiev class and Kuznetsov class vessels as “heavy aircraft carrying cruiser” was to circumvent this restriction. Their primary armament comprised of ant-aircraft missiles and anti-ship missiles, with the small complement of Yak-38 VTOL meant for fleet defense. The acceptance of the heavy aircraft carrying cruiser moniker under the Montreux Convention arguably required the acquiescence of friendly Turkey, especially one that was a NATO member.

Throughout the 85-year history of the convention, the Black Sea has remained largely demilitarized and stable, with the Black Sea states keeping modest fleets in this maritime area. Even during World War II, Turkey’s neutrality and administration of the convention greatly limited the injection of large naval fleets into the Black Sea. Coupled with the impediment of Gibraltar, Nazi Germany only introduced small numbers of patrol boats and submarines to the region, with these having to make most of the transit overland, requiring them to be assembled and launched from Axis controlled territory along the coast.

2021: Ukraine Conflict Reignition?

As the situation along the conflict line in eastern Ukraine continues to further deteriorate, and the statements coming out of Ukraine, NATO and the U.S. become exceedingly provocative, the likelihood of a significant armed conflict reigniting on an even larger scale increase with each passing day. Russia has voiced its concerns and made its “red lines” know to all, has mobilized a large amount of personnel and military hardware, and positioned it close to the border with eastern Ukraine. It has reinforced the defense of Crimea significantly. Russia has conducted its movements of troops and materiel quite overtly, with no attempts to conceal them. This clearly communicates the Russian movements are in fact a reaction to developments in the region and a are designed as a deterrent, not the signs of a premeditated offensive as the corporate media would have the world believe.

By contrast, the United States has sent numerous military transport aircraft loaded with unknown payloads to Ukraine in the past few days. Although the flights were not hidden per se, questions regarding their purpose were not answered by various Biden Administration press secretaries. This can hardly be seen as an attempt to achieve strategic ambiguity, as the U.S. has been supplying Ukraine with billions of dollars in military aid since the conflict began in 2014. The United States requested transit approval from Turkey of the Straits for two U.S. Navy warships 15 days ahead of the proposed transit as required by the Montreux Convention. Turkey granted the request. Although the U.S. Navy’s 6th Fleet routinely sends warships into the Black Sea and had three vessels in the area during the previous month, the official reasons given for this deployment were that the U.S. was providing a show of support for Ukraine and attempting to provide “stability” in the region. After a call between presidents Biden and Putin on April 15th, the U.S. Navy rescinded its transit request. This was a welcome step toward de-escalation.

USS Carney DDG 64 during a previous naval deployment that took her into the Black Sea and an official visit to the port of Odessa, Ukraine in 2017. She is currently in drydock undergoing a full modernization overhaul in Jacksonville, FL.

All the above developments are happening with the backdrop of the commencement of NATO operation Defender Europe 2021 back on March 15th. As the training exercise ramps up in May it will engage approximately 28,000 personnel from 27 participating countries. Approximately 20,000 of these troops will be deployed from the U.S., along with heavy equipment shipped to the continent for the U.S. Army’s 2nd Brigade Combat Team and 3rd Infantry Division. The majority of armored vehicles and war materiel will be mobilized from pre-position depots in Belgium, the Netherlands and Germany. Exercises will simulate and test the response to a Russian invasion of NATO members and friendly nations, i.e., Ukraine. Exercises will take place in Poland, Bulgaria, Romania, and Ukraine.

Quite ironically, Air Force Gen. Tod Wolters, NATO’s supreme allied commander stated after last year’s Defender Europe 2020 that,

“We’ve seen a fair amount of response from Russia. They’re not overly pleased with Defender Europe 20. We’re concerned mostly about the readiness of our forces and we’re doing all that in accordance with international law.”

Somehow it is acceptable for the U.S. to move tens of thousands of troops and equipment thousands of miles across the Atlantic Ocean to conduct military exercises on foreign soil, yet it is unacceptable for Russia to conduct similar exercises on its own soil, yet both are clearly in accordance with international law. Could General Wolters grasp that Russia’s displeasure might be influenced by the long list of broken promises related to NATO expansion into previous Warsaw Pact nations over the past thirty years? How about Operation Barbarossa of 1941, which saw a massive invasion of the nation by Nazi Germany, Bulgaria, and Romania, with Hungary and Italy also participating to a greater degree after the initial operation? Russia learned a tragic lesson in this case and one that it will never allow to happen again. Perhaps it would help for General Wolters to crack the binding of a history book or two about Russia in the near future.

What Role will Turkey Decide to Play?

Turkey has a multitude of options open to it in case the current conflict in Ukraine develops into open warfare between Ukraine and Russia. President Erdogan is a very shrewd and calculated politician, who would undoubtedly hedge his bets and alter Turkey’s strategic position as the situation developed. Turkey’s strategic calculus would depend largely on the level of response exhibited by Russia in its reaction to any move by Kiev to break the stalemate in the Donbass region, or any direct military threat on Crimea. A direct move on Crimea is highly unlikely, as Russia was totally unambiguous as to its stance in 2014. It will fight to maintain Crimea even if it means nuclear war.

Russia has been slowly modernizing the Black Sea Fleet. The Admiral Makarov pictured above is one of three Project 11356 FFGs commissioned and stationed there in the past few years.

Turkey would wait and gauge the NATO response to any Russian reaction to Kiev’s escalation. If NATO moved forcefully and resolutely, Turkey would likely maintain the status quo and honor its responsibilities under the Montreux Convention up until such point that either NATO or Russia gains a clear advantage. Turkey is a NATO member and is bound by the treaty; however, Ukraine is not a member, and thus Turkey has no obligation under Article 5 to defend it, especially if Ukraine initiates hostilities. A propaganda war facilitated by western corporate media would be used to frame any conflict as a case of a Russian invasion to allow for NATO to initiate a conflict to defend a non-member state. If NATO gained a clear advantage, Turkey would align itself unequivocally with the military bloc, declare Russia a belligerent party to Turkey and bar all Russian naval and maritime traffic in the Straits as per the mechanisms available in the Montreux Convention. Turkey would cut off the major supply route from Russia to its forces stationed in Syria and would likely escalate the military situation in Syria in conjunction with NATO. This would only lead to a much wider conflict.

If Russia were to gain an early and clear advantage, Turkey would most likely remain “neutral” and maintain the status quo regarding the Montreux Convention; however, it would likely engage in covert warfare against Russia in both the Crimea and Syria via its proxies in both regions to take advantage of Russia’s immediate focus on Ukraine. It could also reignite the Armenia-Azerbaijan conflict. Its commitment to proxy warfare would be gauged by the pace and level of any Russian military success. Even in the case of an overwhelming victory on the part of Russia, I see little likelihood of Turkey abandoning the Montreux Convention and the adoption of a more favorable transit agreement with Russia. In regard to controlling this strategically important maritime bottleneck, Turkey holds all the cards. Russia has been keenly aware of this reality since the agreement was ratified in 1936. Alongside its desire to maintain an advantage in the natural gas trade to Europe, it is also for this reason that Russia has invested so much in stabilizing Syria and defeating Western/Saudi/Gulf Emirate efforts to eliminate Russia’s most viable naval base of operations in the Mediterranean Sea in Tartus, Syria.

The Future of the Montreux Convention

There is very little chance of a major change in the status of the Montreux Convention in the immediate future. The greater possibility is that an open conflict between Russia and Ukraine would be the catalyst for Turkey and NATO to use the agreement to weaken Russia’s position in Syria, where it would be of greatest effect. Erdogan has been very measured in his public statements regarding possible hostilities in Ukraine. While hosting an official state visit with President Zelensky and voicing support for Ukraine’s sovereignty (including Crimea), he has also voiced his support for the Minsk Agreement as the mechanism to resolve the issue; however, public statements are often quite different than the discussions that take place behind closed doors.

The Montreux Convention was perhaps the greatest political victory for Turkey in the past century, and President Erdogan undoubtedly grasps this reality. If the Istanbul Canal project ever actually breaks ground, it is a winning proposition for Turkey economically, although there are several ecological and civic planning concerns that pose a major challenge to the project. Such a project, if successful will bring all the economic benefits that both the Panama and Suez Canals have provided for Panama and Egypt. Although there is a natural, navigable waterway connecting the Black Sea to the Mediterranean, this waterway is constricted and limited in the traffic volume that it can handle.  If a man-made canal can significantly reduce voyage transit time, shippers stand to save significant amounts of money by utilizing it. The time saved equates to fuel savings, possible reduction of overtime labor costs in the next port of call or may determine if a vessel operator meets the contractual terms of a charter party. Russia aims to leverage the same advantages in promoting its own Northern Sea Route.

If Turkey ever completes the proposed Istanbul Canal it would alleviate some of the maritime traffic congestion in the Bosporus Strait and provide a large amount of revenue for the state.

With or without the proposition of the Istanbul Canal, the Montreux Convention is a major strategic advantage for Turkey and the NATO Alliance, as long as Turkey remains a member state. For Russia it is a double-edged sword. Assuming Turkey remains an ally or a neutral party, it severely limits the ability of any foreign power to introduce a viable naval threat to the Black Sea and Russia’s vital national interests in the region. In any scenario where Turkey becomes an active belligerent in any hypothetical conflict, Russia is forced to take decisive and overwhelming action to rest control of these navigable waterways from Turkey or else surrender its access to the Mediterranean. Turkey, Russia and NATO all clearly understand this strategic reality, and have been rational and logical enough to accept it. By so limiting the available options for naval escalation, the Montreux Convention continues to provide stability and ensure a naval balance of power in the region.

END

RUSSIA/UKRAINE

Tensions increasing as Russia detains a Ukrainian diplomat on spy charges and then orders his expulsion.

(zerohedge)

Russia Briefly Detains Ukrainian Diplomat On Spy Charges, Orders Expulsion

 
SATURDAY, APR 17, 2021 – 11:30 AM

Yet another major crisis has erupted between Russia and Ukraine, this time involving the brief detention of a Ukrainian diplomat over accusations of spying

“Ukraine’s foreign ministry said Saturday that Russia briefly detained one of its diplomats in St Petersburg, marking the latest instance of tension between the two countries,” The Hill reports Saturday morning. 

The diplomat, identified as Oleksandr Sosoniuk was taken into custody by Russia’s FSB security service shortly after meeting with a Russian citizen. Sosoniuk is being accused of attempting to gain classified information from Russian databases from a local ‘asset’.

 

Russia’s FSB, file image

“This activity is incompatible with the status of a diplomatic employee and is hostile to the Russian Federation. The foreign diplomat will be dealt with in accordance with international law,” the FSB said in a statement.

The diplomat has been given till April 22 to depart the country, Reuters reports. The diplomat was reportedly held for several hours in Russian custody before being delivered back to Ukraine’s consulate in St. Petersburg. 

While the FSB said he was essentially caught ‘red-handed’, Ukraine’s foreign ministry is fuming, saying in a statement, “The Ukrainian side will soon decide how to respond to this provocation, taking into account current practice,” and condemned the detention, however brief. 

It’s the latest incident to send tensions soaring at a moment Kiev is accusing Moscow of preparing for an ‘offensive’ in eastern Ukraine due to a large Russian troop build-up on the border and in Crimea, which by many accounts is the largest mustering of forces since 2014. 

END

Front line update on the Ukraine/Russia border:

One Man Stands in the Way of NATO’s Run Onward to Moscow | New Eastern Outlook

 
EMAIL TO ME FROM ROBERT H….
 
 
Complete madness that will leave Europe and perhaps the world shaken to its’ core. 

 

There can be no winners in a nuclear exchange, which is what this will be brought to. It is not about Russia wanting more land but about the conquest of Russia. 
So why should anyone expect Russia will roll over ? Russia will fight just like China will and no one will win. And those souls left, will pick up the pieces of a destroyed world to rebuild assuming there is enough of humanity left and the planet can still sustain life. 
And while this is coming to a climax, one is supposed to be afraid of a virus no worse than the flu. Balderdash, the biggest threat to life is war!
Yesterday, I confirmed Russian tanks under power, their own power driving over fields towards the border. This means the spring thaw is almost gone and the length of fuse to war is short. I can only pray that before insanity and madness prevails in the fog of war that common sense will come to those risking life.
Europe has seen too much bloodshed in its’ history to witness what will unfold as the effect will be a long one. War seems like it is manageable until the fog and circus of combat and escalation takes over. By contract the natural gas that flowed through the Ukraine is lessened by 25bullion cubic feet to 40 Billion. This means without Nord Stream 2 being finished Europe will run short of gas this winter even if supplied from Qatar or America. To think those boats will be safe is being naive and why would Russia continue to push gas through the Ukraine? And that is to say that some nut bar in the Ukraine does not blow up the pipes just to invoke more chaos. This is real fog of how things go awry in war. Perhaps the best indication is the duration of closure of the Kerch strait until late October. Europe has enough trouble now a lessened gas flow no matter the reason will make life miserable even without physical scars of war. And as for European tourism, forget it, as the drums of war pound away, soon airspace closures will come with little advance warning. 
As a bystander to insanity one can only pray. 
Cheers

 

Robert
 

One Man Stands in the Way of NATO’s Run Onward to Moscow

P 16.04.2021 U Phil Butler

PTN3411

A foreign military bloc of nations is inching closer to Moscow, Vladimir Putin reacts in kind, and somehow Russia is the aggressor. And learned Ph.D.’s scribble on, defying pure logic from Washington’s Think Tank Row. Here’s the latest sensational proof that the world will never, ever be at peace.

Dr. Mamuka Tsereteli and James Carafano have a new plan for defeating Russia for good. Now get this, in America, we have institutions like The Heritage Foundation that fund supposed research to perpetuate wars. No, really. The latest report of the foundation “Putin Threatens Ukraine—Here’s the Danger and What US, Allies Should Do About It” is a blueprint for continuing friction between west and east. Let’s examine the three takeaways Heritage Foundation puts forward.

According to Tsereteli and Carafano, Putin is about to attack Ukraine. These well-paid foreign policy geniuses say a military buildup inside Russian territory, which was in response to threats from Kyiv, proves beyond a doubt the dastardly Putin is about to overrun Russia’s neighbor. To quote the report, “Putin plans to use Russian forces in a full-blown military engagement with that country [Ukraine].” Well, let’s find out why Russia’s president alerted his military.

Didn’t I just read how Ukrainian Foreign Minister Dmytro Kuleba announced that his country’s National Security and Defense Council had approved a strategy aimed at retaking Crimea and reintegrating the strategically important peninsula? Yes, I am sure of it. Another Washington think tank has already outlined something called the Crimean Platform Initiative, another genius plan hatched in the bowels of CIA headquarters, to make Crimea an expensive proposition for Russia.

This came into being the instant Joe Biden took the oath of office as president, and it’s only part of an overall strategy to engage Russia in a winner take all confrontation that many experts say, is long overdue. And the has taken unilateral aggressive steps toward the Donbass region and any pocket of the pro-Russia sentiment inside Ukraine. A statement by Russia’s Ministry of Foreign Affairs spokesperson Maria Zakharova on this issue bears repeating here:

“All efforts by Kyiv to reclaim Crimea are illegitimate and cannot be interpreted in any other way but a threat of aggression against two Russian [federal] subjects. We reiterate that we will consider the participation of any states or organizations in such activities, including the Crimean Platform initiative, as a hostile act against Russia and direct encroachment on its territorial integrity.”

Now that we’ve established who the aggressor is, let’s take a look at Tsereteli’s and Carafano’s next brilliant takeaway point. The dynamic duo of war strategies says cosmetic measures against Russia will not do! The “west” (meaning NATO), they say, needs a more clear strategy. Which certainly means a massive arms buildup west of the Siverskyi Donets River. The Zelensky government is being pushed from Washington to take even more drastic measures to force Russia into a war stance. The editorial board of the Washington Post recently advised Zelensky:

“Mr. Zelensky now has the opportunity to forge a partnership with Mr. Biden that could decisively advance Ukraine’s attempt to break free from Russia and join the democratic West. He should seize on it.”

So, now that we’ve shown who is doing the pushing here, let’s turn to the final takeaway from Heritage Foundation master strategists. Tsereteli and Carafano come right out and say “countries left outside of NATO will remain targets of Russian aggression and manipulations.” So, the purpose of all this supposed spread of militaristic-based democracy is to expand NATO to? I mean, seriously. Washington is not reaching out with the Peace Corps to shore up a budding Eastern European democracy. The United States is kidnapping another former Soviet republic on the way to the big score. My country has military bases in almost every country in the world, has had more wars than the Mongols, and spends more on weapons than everybody else combined – but Russia is being aggressive! Who believes this bullshit?

Let’s be real here. First, please understand who is doing the “thinking” there in Washington. Take James Carafano, the former Lt. Colonel who wrote speeches for the head of the U.S. Army Chief of Staff. Carafano teaches at West Point, what the hell else can he advise, of war with Russia does not come about? The man’s life is about justifying war. Then there’s Mamuka Tsereteli, who’s also the Founding Executive Director at the America-Georgia Business Council. America-Georgia business, hmm? I wonder if there is an America-Ukraine business council in the works soon? But, you can see where this new strategy from Heritage Foundation is headed, can’t you? Taking advice on foreign policy from these so-called experts is putting the foxes in charge of the hen house. Only they’re not as smart as foxes. They don’t need to be. The public is just that numbed and misinformed these days.

Is heavily involved in helping promote the EU’s Three Seas Initiative (3SI), which is an asymmetrical warfare economic platform to cut Russia off from the EU, and install the U.S. and central European powers in her place in East Europe. This report from Mamuka Tsereteli at Emerging Europe lays out the plan. To learn more about Tsereteli’s role, readers should research the so-called Frontier Europe Initiative, currently propagandizing for greater Georgia-Ukraine strategies against Russia. Make no mistake, the narrative and strategies these people are discussing are the precursors to including not only Ukraine in NATO but Georgia as well. Retired Air Force General Phillip Breedlove and former CENTCOM Commander General Joseph Votel are two of the “experts” helping to draft these strategies. And The Heritage Foundation stands center stage of the move for NATO to force Putin and Russia into an inescapable corner.

And there, is your true geopolitical Eurasia picture. The “west” will run on to Moscow, start World War III, and then blame Putin for the holocaust.

end

IRAN/EUROPE/USA/ISRAEL

Iran announces 60% enrichment and that causes a stir amongst Europeans.  They want a new Iran-European nuclear deal.  The uSA is not in a rush

(zerohedge)

Iran Obtains 60% Enriched Uranium Overnight In Alarming First

 
SATURDAY, APR 17, 2021 – 07:35 AM

Iran on Friday has announced its latest nuclear fait accompli, saying that it’s obtained for the first time ever 60% enriched uranium overnight. This marks the highest level of purity the Islamic Republic has ever enriched to, and has no doubt put the US and European countries negotiating in Tehran on edge.

Particularly Israel has warned it will take action to prevent Iran from acquiring nuclear weapons capability, which requires 90% enrichment, which Iranian leaders this week have warned is indeed obtainable “if we wanted to” – according to the latest remarks from President Hassan Rouhani. 

Tehran’s parliament speaker Mohammad Bagher Qalibaf made the Friday announcement in a Tweet, writing, “I am proud to announce that at 00:40 last night, and on the night of the pilgrimage of Sayyid al-Shuhada, young and pious Iranian scientists were able to obtain a product of 60% enriched uranium.”

 

Via Reuters

Qalibaf added: “Congratulations to the brave people of Islamic Iran on this success.”

The Islamic Republic said this is the necessary response to Sunday Natanz nuclear facility sabotage attack, which has been widely blamed on Israel. An Israeli intelligence official also told The New York Times that the Jewish state was indeed behind it.

It appears also part of Iran’s latest efforts to pile on the leverage for Washington to drop Trump-era crippling sanctions on the country immediately if the US hopes to restore the JCPOA nuclear deal. 

Iran is now warning that it doesn’t plan to let nuclear negotiations “drag on” and has threatened to cut talks short if they are “not constructive”. 

Supreme Leader Ayatollah Khamenei weighed in on this note with forceful words on Wednesday, saying,  “The talks shouldn’t become talks of attrition,” and that they “shouldn’t be in a way that parties drag on and prolong the talks. This is harmful to the country.” 

END

RUSSIA/IRAN/ISRAEL

Russia is backing Iran and will guard Iranian oil supplies to Syria.

South Front)

RUSSIAN NAVY TO GUARD IRANIAN OIL SUPPLIES TO SYRIA UNDER STRATEGIC AGREEMENT – REPORT

 Support SouthFront

Russian Navy To Guard Iranian Oil Supplies To Syria Under Strategic Agreement – Report

 

A Russian Navy assault team from the Russian Federation ship Severromorsk land by helicopter on the deck of the Italian Ship San Marco, the NATO flag ship to Operation Ocean Shield, during a NATO-Russia counter piracy exercise in the Gulf of Aden.

Russia, Iran and Syria have established a joint operation room that would work to guarantee the security and stability of oil and wheat supplies to Syrian ports through the Mediterranean Sea, Sputnik reported on April 17.

According to the agency, a series of intensive meetings between Russian, Iranian and Syrian officials was held recently with the aim of breaking the siege imposed by the US and European Union on Syria.

“The room’s work is to provide multi-sided coordination to secure the arrival of oil supplies, in the first place, to Syrian ports,” Sputnik quoted sources familiar with the matter as saying.

Syria has been facing an unprecedented economic crisis as a result the sanctions imposed by the US and the EU. The country’s natural resources in the northeastern region are also under control of US proxies. Furthermore, ships heading to Syrian ports face sanctions as well as the threat of direct attacks on some occasions.

In the framework of the joint operations room, Russian Navy vessels will protect Iranian tankers heading to Syria until the end of this year.

Iranian tankers will gather in the Mediterranean and sail to Syria in one convoy escorted by the Russian Navy. Recently, this protocol was successfully used to guard four tankers heading to Syria.

According to Sputnik’s sources, other ships loaded with supplied, including food and chemicals for the pharmaceutical industry, will arrive in Syrian ports. Several wheat shipments from Russia will also be sent to Syria until next June.

“The recent tripartite coordination, which resulted in understandings that could be described as strategy, would secure most of the Syrian market’s needs for basic commodities and materials,” the sources said.

The operations room demonstrates honest commitment of Russia and Iran to Syria and the Syrian people. Meanwhile, the US and the EU continue to place political conditions to ease their collective sanctions on the country.

END

RUSSIA ET AL

War is coming likely before month’s end 

Email 
Robert to me:
 
 
 
“Earlier today, I wrote that yesterday Russian tanks were moving under their own power to the border. This simply means they are actively maned by troops who know how to use them. This is not simple rail transport but it tells us they are ready for deployment and duty. A week or so ago, I confirmed that fuel placement had occurred and extra fuel was availed by transport in place.

Today European Time, President Zelensky of Ukraine made an explicit nuclear threat against Russian Crimea today, during an interview with LeFigaro Magazine. Keep in mind this a former TV comic who is now a leader of a country. Even if in jest it is an escalation of hostilities. 

Asked by the interviewer what he thought the future would be for the two breakaway oblasts (states) of Luhansk and Donetsk   (collectively referred to as “The Donbas”) and of Crimea, Zelensky said Donbass and Crimea would face a future comparable to the exclusion zone in Chernobyl. “It will be a dead territory. It will be worse than Chernobyl” How do think Russians see this? Will they see this as ramblings  of a comic or take it seriously? 

Some people may well say this is an explicit nuclear threat. This is more critical than simple bluster because as I have written before NATO MISSILES ARE IN PLACE IN THE WESTERN UKRAINE. Such things are never really admitted but are seen and known. What is not confirmed is whether they are nuclear but it  is likely to assume that some are, given the noise. Defensive missiles can easily be offense weapons with little preparation. Remember Ukraine is a non NATO country yet NATO troops are well established. And in fact are imbedded with Ukrainian forces. That in of itself is reason enough for concern.

Zelensy obviously seems to understand the coming war will “go nuclear” and he just PUBLICLY confirmed that he knows. And one might imagine that he is not likely to make such a mistake; as even a TV comic learns lines. Whether the western public knows is not relevant as in war truth is the first thing to disappear. 

I also informed you that the American ambassador when summoned to the Russian Ministry of foreign affairs left by a side door. Are you ready to know why? 

When Ambassador John Sullivan arrived at Russia’s Ministry of Foreign Affairs this past Thursday, April 15, he was told “The United States has six days to cease all NATO activity inside Ukraine.  Otherwise Russia will attack Ukraine and stop the NATO activity itself.” The unanswered question is whether this is understood nor even shared with NATO on a broad basis. And it is telling that this is not a message communicated to any other country.

Sullivan was so shaken, he exited the Foreign Ministry via a side door rather than the main entrance and was whisked away by his limo without making any comments to gathered media at the front doors. How could he say anything without lying or admitting NATO received an ultimatum? Perhaps, it is why he is nervous staying in Russia himself. Equally telling is there is no effort to have the Russian ambassador return to DC. In diplomatic terms there is nothing else to say. 

Shortly after that meeting, the United States imposed additional economic sanctions upon Russia, ejected ten of their Diplomats and called a meeting of the National Security Council. And yes, Russia Responded in kind. But this is distraction from the reality occurring now. This tit for tat of state activity is meaningless as it is all for show.  However, Russia will see this as a response to their message and act without warning. This is dumb and dumber by a a crowd that does not understand what real war is about. Do not think for second China does not understand this. 

If Russia was being literal in a 6 day warning, then the the countdown has started. This suggests hostilities could come quickly. And I doubt this will hold as a defined timeline as it is not Russian style to be predictable. So an outbreak of hostilities is likely without warning anytime starting late this coming week to some time in near future, barring other events occurring. What the flash point will be, remains to be seen. As both sides have plans. For weeks now I have heard of how NATO will set a trap for theRussians and how certain Russian enclaves will experience tactical missiles. Such talk is simply foolish given the arsenal Russia possesses and the response that will surely come. Regrettably fools do not seek knowledge from history otherwise they would take caution from the reality that both Germany and France lost their pride on the Russian front and lost. Russians understand that millions will die and whether NATO gets it or it matters seems irrelevant.

This time frame also fits with another piece of information and date I have told you is important. Putin has requested to address a Joint Session of his country’s Legislature, (Duma and Elite) which is akin to the US House and Senate.  That address will be given on April 21, which is this coming Wednesday. And one imagine conflict could result anytime thereafter without warning. As I have already written Russia will be ready over the weekend. And not just on the Ukrainian border as other missile placements are in position as of yesterday. And the Pacific fleet will be way late Sunday resupplied with additional missiles. So Russia clearly see threat in the Pacific and is deploying accordingly, much like America has carrier fleets on both coast lines. The Arctic is already on a higher alert status. 

There is a thought that he  will explain to his legislature the existential threat Russia is facing, and ask their permission to use Russia’s armed forces to confront that threat. The threat is simply NATO missiles in the Ukraine as Russia has repeatedly warned which with nuclear warheads world strike Russia within 5 minutes. This is a red line for Russia that cannot be allowed. However, there is another side to this. It is likely in the speech that it will be said that Russia’s future endeavors are nit with Europe as Russia is turning its’ back on Europe and looking East. Couple this with the reality that Russia is the only country nit so indebted to the  west that they cannot decouple from the west. Unlike China who is deeply indebted and seemingly has liquidity issues in much of its’ structure. 

There is another factor seemingly in play here. There has been quiet mention of a new financial system on the horizon that could only be weeks away that only allows sound on balance sheet money to be counted and used. There is speculation that such currency must be backed by real assets and not be fiat. To some bankers this is giving up control of the central banking control placed over the western world. So it maybe this is a driving factor to seek war as an alternative to mask the realities in the horizon. It would not be the first time this has been done. 

The US State department and NATO are not backing down with Ukraine.   They are sending more troops, weapons, equipment and vehicles, as I write.  All this gear is being given to the 110,000 Ukraine army troops that were intentionally massed on the borders of breakaway oblasts (states) Luhansk and Donetsk, beginning about three weeks ago. The Russians will not leave this unanswered, it is not their character to do so. Nor will the Russians allow NATO to be in a first strike position nor do they see the current regime in America as legitimate.

As of last night, the Ukraine Army has 110,000 troops, over 400 tanks, over 900 pieces of artillery, staged within striking distance of both Luhansk and Donetsk, which is populated by mostly Russian-Speaking citizens.  Ukraine began this build-up, yet, in the US and in EU, the mass-media is shouting  about “Russian Aggression” and complaining that “Russia is a threat to Ukraine.”

 

Perhaps this will blow over but in event it does not, real caution is warranted. The reset crowd is desperate to overthrow both Russia and China and the thinking is Russia is a easier push because it is a land based war rather than a sea based invasion. Their so called virus pandemic has failed to produce the  results they sought.

I suggest they are very wrong; with the first sign of a nuke fired at Russia, expect every single NATO base in Europe to be destroyed with 7 minutes. Russia will respond on a mass basis to survive. Imaginary notions of localized conventional war will be lost very quickly. And expect Russia to go after the real culprits of this war, where ever they maybe. And there is one other deadly factor not being considered. Russia has something known as the “dead hand” which is a complex AI system meant to operate if their command structure is non responsive. Once so determined it launches a mass strike against an opponent effectively eliminating its’ existence. Remember the missile inventory of Russia is second to none which means thousands of missiles can fly. 
As for the US, as I have written earlier, I sense a disconnect in the military from the State and the non deployment of American ships continues to indicate that the US military may well stand down while NATO MOVES and Russia engages in response.
That maybe the best chance for North America to stay out a war with Russia and for the world not to see a global war.” 
 
end
 

6.Global Issues

This is a must read.  Globalists are alarmed that their COVID scare did not meet expectations for their reset agena. They will need another crisis in the uSA for this to happen
(Brandon Smith/Alt Market//us).

Globalists Will Need Another Crisis In America As Their Reset Agenda Fails

 
SUNDAY, APR 18, 2021 – 06:45 AM

Authored by Brandon Smith via Alt-Market.us,

It might sound like “US exceptionalism” to point this out (…and how very dare I), but even if the globalist Reset is successful in every other nation on Earth, the globalists are still failures if they can’t secure and subjugate the American people. As I’ve noted many times in the past, most of the world has been sufficiently disarmed, and even though we are seeing resistance in multiple European nations against forced vaccination legislation and medical tyranny, it is unlikely that they will have the ability to actually repel a full on march into totalitarianism. Most of Asia, India and Australia are already well under control. Africa is almost an afterthought , considering Africa is where many suspect vaccines are tested.

America represents the only significant obstacle to the agenda.

Conservative Americans in particular have been a thorn in the side of the globalists for generations, and it really comes down to a simple matter of mutual exclusion: You cannot have an openly globalist society and conservative ideals at the same time in the same place. It is impossible.

Conservatives believe in limited government, true free markets, individual liberty, the value of life, freedom of speech, private property rights, the right to self defense, the right to self determination, freedom of religion, and the non-aggression principle (we won’t harm you unless you try to harm us). None of these ideals can exist in a globalist world because globalism is at it’s core is the pursuit of a fully centralized tyranny.

There are people on this planet that are not satisfied to merely live their lives, take care of their families and make their mark peacefully. They crave power over all else. They desperately want control over you, over me, over everything, and they will use any means at their disposal to get it. I would compare it to a kind of drug addiction; globalists are like crack addicts, they can never get enough power, there is always something more to take.

They tell themselves and others that they are “philanthropists”, that “they know what is best” for the rest of us. They believe themselves superior and therefore it is their “destiny” to dictate and micro-manage society for the “greater good” of us all. But really, when we witness their methods it becomes clear that they have no noble aspirations. They have no empathy or honor. They don’t care about the average human being, or the environment, or the economy or society in general. They only care about themselves and their delusions of grandeur. These people are a cancer on the rest of civilization.

They seem to be particularly obsessed with deconstructing and sabotaging America in the pursuit of their global Reset. Real philanthropists would not have a problem if someone didn’t want to accept their “charity”, but psychopaths cannot abide a group of people rejecting them and their ideology. You are not allowed to walk away from them. You are not allowed to do things your own way. You must be forced to comply. The agenda only works if EVERYONE submits.

Unfortunately for the globalists, the Reset is not working out for them everywhere. In the US, the agenda is failing miserably compared to Asia and parts of Europe.

As the head of the World Economic Forum, Klaus Schwab, is so fond of reminding us, the Covid pandemic is the “perfect opportunity” to push forward the globalist plans for a total Reset of human economy and society. To the globalists, the crisis is a panacea, a doorway to their version of a better world. They love the pandemic, they are not distressed by it.

The problem is, it’s not doing enough damage or terrifying enough people.

Consider the Event 201 coronavirus pandemic simulation – It was held by the World Economic Forum and the Bill and Melinda Gates Foundation only two months before the real thing “coincidentally” happened in early 2020. The pandemic war game was less about saving lives and more about how the elites planned to keep the public under control. The suppression of alternative media and censorship in social media was discussed at great length. Dissenting voices need to be silenced if the Reset is going to prevail.

One factor within the Event 201 simulation that never played out, though, was the WEF projections on deaths. The war game suggested at least 65 million initial deaths due to the pandemic. Early projections on the death rate suggested 2% to 3% of the population or more. The same projections were repeated by the UN’s World Health Organization when the real pandemic was first revealed to the public.

Instead, Covid-19 has been a letdown for the globalists, with a tiny death rate of around 0.26% outside of nursing homes. Meaning, 99.7% of the population has nothing to worry about from covid. Millions of Americans are becoming savvy to the situation and are refusing to comply with mandates over a virus that is a non-threat.

Instead of backing off of the Reset scheme, the globalists are continuing to double down. Why? Because they have no other choice. They let the cat out of the bag and bloviating big-mouths like Klaus Schwab told the world exactly what the plan is. If they retreat now, they might NEVER get another chance to implement a world centralization plan; a massive grift which requires medical tyranny in order to prevent rebellion.

You see, if the death rate had been dramatically higher than 0.26% and covid represented a legitimate threat, then maybe a larger portion of the US population would have been on board with longer term restrictions and medical passports. Maybe not. The fact remains that 40% of deaths have been in nursing homes among patients with preexisting illnesses, the death rate outside of these facilities is minimal, the mask mandates have been proven completely ineffective and the states that have remained open and removed mask mandates have FALLING death and infection rates when compared to states that are enforcing lockdowns.

The fear narrative is falling apart. States across the US are opening and are refusing to implement useless mandates. In my home state of Montana, legislators and the governor are passing laws that forbid the enforcement of medical passports. Even major corporations are not allowed to demand vaccine passports from customers or employees.

On top of that, 40% to 50% of the US population in polls are refusing to comply with the vaccine rollout or medical passports. Why take a vaccine for a virus that 99.7% of the population is unaffected by anyway?

The jig is up. The globalists are going to need another crisis if they hope to enforce further lockdowns in the US, along with medical passports and disarmament. Do not be surprised if there is more engineered chaos going into the summer months. But what will the next crisis look like? I think we are already seeing the signs…

Covid Mutations

The mainstream media is pushing a non-stop narrative of covid mutation hype. We hear about UK and Brazilian variants on a weekly basis, and the assertion has been that surely, these variants will be more infectious and more deadly that the original virus. There is still no proof whatsoever to confirm this, but the globalists only care about planting the idea in people’s heads. They only care about reigniting the fear.

My feeling is that this strategy is going to fail, at least in the US. Too many Americans are aware of the con game, and a new virus threat is not going to have the same effect as Covid-19 did in the early months of the pandemic. None of us really knew what we were facing back then, and caution was a practical response. Today, we know for a fact that covid is not a concern for the vast majority of the public. Media attempts to amp up the threat will be ineffective, but they will of course still try.

BLM Riots

This is the next obvious tactic on the part of the establishment. Numerous state officials are openly supporting renewed riots across the country due to a recent police shooting in Minnesota. The shooting itself was accidental, with the suspect violently resisting arrest and leaping into his car. A female officer grabbed her pistol in a panic instead of her taser and fired.

This event had nothing to do with racism, and nothing to do with police brutality. But, that’s not stopping Marxist groups like BLM from taking advantage and making it all about “white supremacy”. The real danger of unrest, however, will arrive at the closing of the Derek Chauvin trail.

With the trail coming to an end, evidence has been revealed that George Floyd was involved in heavy drug use and the medical examiner indicated that this along with heart disease were contributing factors to Floyd’s death. A “speed ball” containing Fentanyl was also discovered in the back of the police cruiser in which Floyd was originally restrained. So, even if Derek Chauvin’s knee to the neck tactic helped kill Floyd, it is unlikely that a jury will convict him of 1st or 2nd degree murder based on the evidence. Any lesser charges will undoubtedly trigger more BLM riots.

Conveniently, these powderkeg events are taking place at the onset of the warm spring and summer months, which is prime time for riots.

My concern is that civil unrest will be allowed to spread and fester in the US until regular citizens start taking matters into their own hands. And, of course, any community that tries to defend itself against looting and destruction will be accused of “racist aggression” – At which time the Biden Administration will then try to assert the authority to institute martial law measures in various regions. This combined with renewed attempts at covid lockdowns is a highly likely scenario.

Cyber Polygon

Just as the Event 201 simulation of a coronavirus pandemic preceded the real thing by only two months, there are concerns that the next World Economic Forum simulation event will also be a precursor to another crisis.

Cyber Polygon is a war game being held by the WEF this July which is meant to simulate a major cyber attack on the global supply chain and the economic system. There has been endless discussion int the media the past year building up fears of cyber attacks by Russia, China, Iran and even North Korea.

In terms of supply chain threats, I’m not sure exactly how a cyber attack could do much to disrupt global shipping, unless we are talking about another blockage in a major shipping route like the Suez Canal. But, a successful attack on stock exchanges in places like Wall Street could be devastating. I suggest watching this event carefully as it may be designed to precede a real cyber attack sometime this year.

Global War Tensions

The media and the Biden Administration are very busy trying to create tensions with Russia over Ukraine. There are renewed tensions between Iran and Israel and continued destabilization by the West in Syria. And, a rising danger of confrontation with China over Taiwan.

War could be the goal, or, the goal could merely be economic conflict. After all, China has already been dumping dollars and US treasuries the past year, and it would not take much to cause damage to the dollar’s world reserve status if China and Russia both diversified into a basket of currencies for global trade.

Beyond that, there are many advantages for globalists in creating regional wars and drawing Americans into pointless conflicts. For example, the threat of war could be used to institute a new draft. What better way to keep American men in particular busy and stop them from rebellion against the Reset than to draft them so they can die in a meaningless war overseas?

There is also a narrative advantage to global tensions; when presented with a foreign threat, are Americans more likely to reject notions of rebellion against government trespasses? I have no doubt that the establishment will try to claim the liberty movement is not a movement for freedom, but an “astro-turf” movement created by the Russians to destabilize America. This has been the leftist media propaganda strategy for years now; so why would they stop?

The bottom line is this: America is the primary target of the globalists because we are one of the only countries with the means and the numbers to stop them and the Reset. Until they are removed from the equation they will continue to throw crisis after crisis at us in order to wear us down and force us to accept totalitarianism. Do not get too comfortable in the fact that the pandemic agenda is failing here; stay alert and continue to organize your communities.

*  *  *

END

CANADA/CORONAVIRUS UPDATE//

We have a police state in Ontario as the Government posed new lockdowns. Nobody is to go out except for work, or buying food.  If caught doing anything else, police can fine you $750.00.. Totally insane.  The police refuse to enforce Ontario’s new policies.

(Lifson/American Thinker)

Canadian Cops Refuse To Enforce Ontario’s New ‘Police State’ COVID-Lockdown Laws

 
SATURDAY, APR 17, 2021 – 11:00 PM

Authored by Thomas Lifson via AmericanThinker.com,

A new police state has been established just north of the states of Minnesota, Michigan, Ohio, Pennsylvania, and New York.  The Province of Ontario is home to over 38% of the population of Canada and is 55% bigger in area than the State of Texas, and it is now acting like a nightmarish police state.

Solicitor General Jones (Twitter video screen grab).

CTV News reports:

The Ontario government is giving police temporary powers to enforce its stay-at-home order and allowing them to stop individuals and vehicles and ask their reasons for leaving their homes.

Solicitor General Sylvia Jones made the announcement Friday afternoon as part of the new measures introduced by Premier Doug Ford’s government to stop the further spread of COVID-19.

“We have made the deliberate decision to temporarily enhance police officers’ authority for the duration of the stay-at-home order. Moving forward, police will have the authority to require any individual who is not in a place of residence to first provide the purpose for not being at home and provide their home address,” Jones said.

“Police will also have the authority to stop a vehicle to inquire about an individual’s reason for leaving their residence.”

So much for freedom of movement or assembly.  Unless the police deem your presence outside your prison cell home essential, you could be in for trouble.  

Those who will not comply will be issued a ticket, Jones said. The province has not provided further details on possible fines, but she said under the Emergency Management and Civil Protection Act, penalties for non-compliance are set at a minimum of $750.

I find the excerpts from the news conference announcing these changes deeply troubling, just looking at the faces and listening to the tone of these authoritarians as they try to justify their seizure of power over the details of ordinary life.  George Orwell would recognize them:

Ontarian police and local authorities are not necessarily enthusiastic about exercising these new powers to detain citizens and examine their motives for daring to leave home:

A spokesperson for the Toronto Police Service said they are reviewing the new orders.

“Prior to any change in our enforcement strategy, we will notify the public on how we plan to implement the new provincial orders,” spokesperson Allison Sparkes said.

Several police services have said Friday that they will not be randomly stopping people. They include Waterloo Regional PolicePeterborough PoliceGuelph PoliceLondon Police and Ottawa Police.

Toronto Mayor John Tory expressed his concerns over the new police powers, saying in a tweet that he will review the regulations carefully and will discuss them with the medical officer of health and the police chief.

Mississauga Mayor Bonnie Crombie also said stopping people arbitrarily “is not how we get control of the virus.” She added that she will speak to the chief of Peel police and public health to look at how it will be enforced.

It sounds as if the provincial authorities are drawing their inspiration from China’s early response with drastic lockdowns.  At least so far, they are not discussing welding doors shut to trap people inside.  They might also consider the disaster across their own border in Michigan, where Governor Gretchen Whitmer’s drastic lockdown regulations have led to one of if not the worst problems with COVID in the United States, while  free states like Texas and Florida do much better.

I’d be a lot more impressed if, instead of trying tom keep people indoors, where the virus spreads far more readily than outdoors, they focused in early therapeutic intervention in cases of COVID, using ivermectin or hydroxychloroquine, both widely used and relatively benign pharmaceuticals, that inhibit reproduction of the virus and often have been shown to slow and even stop the effects.

END

CANADA

And you think that the uSA is bad..just take a look at Canada’s new “Feminist” budget

(zerohedge)

Canada’s Freeland Unveils “Feminist” Budget: Slaps New Tax On Non-Residents & Big-Tech

 
MONDAY, APR 19, 2021 – 04:31 PM

Canada’s Finance Minister Chrystia Freeland unveiled C$101.4 billion ($80.9 billion) in new policy actions over three years to aid the economic recovery.

Freeland’s historic budget as the first female finance chief follows the blueprint of previous Liberal fiscal plans in seeking to expand the state and make social programs more generous.

This is social infrastructure that will drive jobs and growth. This is feminist economic policy. This is smart economic policy,” Freeland said.

Overall, as Bloomberg reports, the nearly C$500 billion ($399 billion) budget is a bet that voters will support Trudeau and Freeland’s vision for the government to play a bigger role in the country’s economy over the long run.

“This budget is about finishing the fight against Covid. It’s about healing the economic wounds left by the Covid recession,” Freeland said in prepared remarks Monday.

“And it’s about creating more jobs and prosperity for Canadians in the days — and decades — to come.”

The headline item is new childcare and early learning funding of about C$30 billion over five years, with the intention of creating a subsidized program offering C$10-a-day care

Freeland announced various “green” initiatives, including various tax incentives, including a 50% cut to the general corporate and small business income tax rate for companies that manufacture zero-emissions technologies, and an investment tax credit to speed up adoption of carbon capture technology with the goal of reducing emissions by at least 15 megatonnes of CO2 annually.

“The resource and manufacturing sectors that are Canada’s traditional economic pillars — energy, mining, agriculture, forestry, steel, aluminum, autos, aerospace — will be the foundation of our new, resilient and sustainable economy,” Finance Minister Chrystia Freeland said in her planned remarks to Parliament.

“Canada will become more productive and competitive by supplying the green exports the world wants and needs.”

But the populist budget could not just incentivize, it needed to punish too… (in the name of feminist fair share seeking we presume). The measures won’t bring in a lot of revenue but will generate some headlines.

  • The budget includes a tax measure that will sting a few private equity shops, limiting interest-expense deductions to 40% of a company’s earnings starting in 2023 and 30% after that.

  • Non-resident homeowners will face a 1% tax if their property remains vacant, and a luxury tax will be levied on airplanes and cars worth over C$100,000, as well as yachts.

  • And finally, as of 2022, some digital companies will face a 3% tax on revenue from “digital services that rely on data and content contributions from Canadian users” — a measure designed to squeeze some cash from foreign technology giants including Facebook. The government thinks it can raise C$3.4 billion over five years from the levy.

As Bloomberg notes, the budget will now face a vote in the House of Commons, where the Liberals will need the support of at least one opposition party. Failure to pass it would trigger an election.

The Loonie is largely unaffected but the long-end of the Canadian yield curve is surging higher as the government plans to issue a record C$121 billion ($96 billion) of bonds maturing in 10 years or later, up from C$107 billion in previous fiscal year that ended March 31 (and includes a reopening of 50-year issue)…

The virtue-signaling government also disclosed that, subject to market conditions, it targets C$5 billion in its first green-bond debut, the first of “many”.

CORONAVIRUS//VACCINE UPDATE

Where COVID Cases Are Growing The Fastest

 
SUNDAY, APR 18, 2021 – 11:15 PM

COVID-19 cases are growing in many countries around the world, but, as Statista’s Katharina Buchholz details below, some are hit harder than others. Numbers by Johns Hopkins University published on Our World in Data show that among the highly affected countries with rising case numbers are several with successful vaccination campaigns, highlighting the need to not rely on vaccination alone to combat the coronavirus.

Infographic: Where Coronavirus Cases Are Growing Fast | Statista

You will find more infographics at Statista

Chile still recorded an average of 377 new infections per one million of population on Thursday despite having given out 67 vaccine doses per 100 people – the equivalent of 40 percent of the population having received at least one vaccine dose and 27 percent having been fully vaccinated.

The same phenomenon is happening in Bahrain (60 doses per 100 people as of April 15) and Qatar (41 doses). 

According to Our World in Data this places the countries towards the top of the most successful vaccination campaigns in the world.

END

Here is a list of adverse reactions to 3 of the 4 vaccines used in the uSA

(Megan Redshaw/ChilddrenHealthDefense.org)

What The CDC’s VAERS Database Reveals About “Adverse” Post-Vaccine Reactions

 
SUNDAY, APR 18, 2021 – 10:50 PM

Authored by Megan Redshaw via ChildrensHealthDefense.org,

Data released today by the Centers for Disease Control and Prevention (CDC) on the number of injuries and deaths reported to the Vaccine Adverse Event Reporting System (VAERS) following COVID vaccines revealed reports of blood clots and other related blood disorders associated with all three vaccines approved for Emergency Use Authorization in the U.S. — PfizerModerna and Johnson & Johnson (J&J). So far, only the J&J vaccine has been paused because of blood clot concerns.

VAERS is the primary mechanism for reporting adverse vaccine reactions in the U.S. Reports submitted to VAERS require further investigation before a causal relationship can be confirmed.

Every Friday, VAERS makes public all vaccine injury reports received through a specified date, usually about a week prior to the release date. Today’s data show that between Dec. 14, 2020 and April 8, a total of 68,347 total adverse events were reported to VAERS, including 2,602 deaths — an increase of 260 over the previous week — and 8,285 serious injuries, up 314 since last week.

Of the 2,602 deaths reported as of April 8, 27% occurred within 48 hours of vaccination, 19% occurred within 24 hours and 41% occurred in people who became ill within 48 hours of being vaccinated.

In the U.S., 174.9 million COVID vaccine doses had been administered as of April 8. This includes 79.6 million doses of Moderna’s vaccine, 90.3 million doses of Pfizer and 4.9 million doses of the J&J COVID vaccine.

This week’s VAERS data show:

Reports of blood clotting disorders in VAERS

Children’s Health Defense queried the VAERS data for a series of adverse events associated with the formation of clotting disorders and other related conditions. VAERS yielded a total of 795 reports for all three vaccines from Dec. 14, 2020, through April 8.

Of the 795 cases reported, there were 400 reports attributed to Pfizer, 337 reports with Moderna and 56 reports with J&J — far more than the eight J&J cases under investigation, including the two additional cases added Wednesday.

As The Defender reported today, although the J&J and AstraZeneca COVID vaccines have been under the microscope for their potential to cause blood clots, mounting evidence suggests the Pfizer and Moderna vaccines also cause clots and related blood disorders. U.S. regulatory officials were alerted to the problem as far back as December 2020.

CDC ignores The Defender, no response after 39 days 

According to the CDC’s website, “the CDC follows up on any report of death to request additional information and learn more about what occurred and to determine whether the death was a result of the vaccine or unrelated.”

On March 8, The Defender contacted the CDC with a written list of questions about reported deaths and injuries related to COVID vaccines. We requested information about how the CDC conducts investigations into reported deaths, the status of ongoing investigations reported in the media, if autopsies are being done, the standard for determining whether an injury is causally connected to a vaccine, and education initiatives to encourage and facilitate proper and accurate reporting.

After many attempts to get a response from the CDC, 22 days after our initial outreach a representative from the CDC’s Vaccine Task Force responded, saying the agency had never received our questions — even though the employees we talked to several times said their press officers were working through the questions we sent.

We provided the questions again and set a new deadline of April 7. We’ve reached out multiple times since, but the representative has not answered our emails or returned our calls.

On April 15 we called the CDC’s general media line again and were told they had our list of questions and were unsure why the representative told us she never received them. We were told the COVID response team would be informed and that we should follow up in a few days.

It has been 39 days since we first reached out and have yet to receive answers to our questions.

Johnson & Johnson paused over reports of blood clot

On April 15, The Defender reported that a healthy 43-year old man in Mississippi suffered a stroke hours after being vaccinated with J&J’s COVID vaccine. Brad Malagarie, father of seven, had received the vaccine a little after Noon and was found unresponsive by co-workers at his desk.

Also on April 15, the  Cincinnati Enquirer reported that the Ohio Department of Health is monitoring the investigation into what may have caused a 21-year-old University of Cincinnati student to die suddenly last Sunday, about a day after he received the J&J vaccine.

Alicia Shoults, a spokeswoman for the state health department, said the agency is waiting for the completion of a Hamilton County coroner’s report, and “if necessary,” further guidance from the CDC.

The two news stories came just days after federal health officials paused the J&J vaccine.

As The Defender reported April 13, the CDC and U.S. Food and Drug Administration (FDA) called for a temporary but immediate halt to the use of J&J’s COVID vaccine while the agencies investigated the vaccine’s possible link to potentially dangerous blood clots.

In a joint statement, the agencies said the Advisory Committee on Immunization Practices (ACIP) was reviewing clinical data gathered on six women, one who died, between the ages of 18 and 48 years who developed blood clots after receiving the single-dose J&J vaccine.

On April 14, the ACIP held an emergency meeting to vote on whether to lift the pause on J&J’s vaccine or change recommendations for its use. As The Defender reported, the ACIP postponed the vote, extending the pause pending further analysis of data relating to blood clots. The ACIP said it would reconvene for a vote in one week to 10 days.

That same day, J&J revealed two more cases of blood clots — one that occurred in a 25-year-old man who suffered a cerebral hemorrhage during a clinical trial and another case of deep-vein-thrombosis in a 59-year-old woman.

In its review of J&J’s submission for Emergency Use Authorization in February, the FDA initially urged further surveillance of a slight “numerical imbalance” in blood clotting events after receiving the shot. At the time, it was concluded there was “insufficient” data to determine “a causal relationship” with the vaccine and the drugmaker resumed the trial.

As The Defender reported April 12, the rollout of J&J’s COVID vaccine has not been smooth. At the beginning of the month the vaccine maker had to throw out 15 million doses of its vaccine after they were contaminated with AstraZeneca vaccine ingredients at an unapproved manufacturing plant in Baltimore.

The vaccine maker also has been plagued with shutdowns of its vaccine sites prior to the vaccine being paused, multiple reports of COVID breakthrough cases and criticism over its CEO’s $30 million pay package while the company pays out billions for its role in the opioid epidemic.

CDC, multiple states report ‘breakthrough’ COVID cases among fully vaccinated

Cases of fully vaccinated people getting COVID, referred to as “breakthrough” cases, continue to make news.

Calling it a “really good scenario,” the CDC yesterday reported 5,800 cases of COVID in fully vaccinated people. Of the 5,800 cases, 396 required hospitalization and 74 people died, the CDC said.

The CDC said it was “keeping a close eye” on the cases, but that breakthrough cases are to be expected. Tara Smith, a professor of epidemiology at the Kent State University College of Public Health in Ohio, told NBC News:

“This is a really good scenario, even with almost 6,000 breakthrough infections. Most of those have been mildly symptomatic or asymptomatic. That’s exactly what we were hoping for.”

On April 12, the Houston Health Department reported 142 breakthrough cases of COVID that occurred in fully vaccinated people since January, according to ABC 13 News. Vaccine recipients received either two doses of Moderna or Pfizer, or one dose of J&J. The report ruled out those who were said to have contracted the virus 45 days before their second scheduled shot date.

Houston Health Department said there were 2.46 positive cases out of every 10,000 fully-vaccinated people and it was unclear if those who tested positive contracted the original strand of COVID or a newer variant.

Last month, The Defender reported on breakthrough cases in Washington, Florida, South Carolina, Texas, New York, California and Minnesota. On April 6, The Defender reported on 246 breakthrough cases in Michigan, which included three people who died.

Children’s Health Defense asks anyone who has experienced an adverse reaction, to any vaccine, to file a report following these three steps.

7. OIL ISSUES

 

8 EMERGING MARKET ISSUES

ST VINCENT
More trouble!

Another “Explosive Eruption” Detected At St. Vincent Volcano In Eastern Caribbean

 
SUNDAY, APR 18, 2021 – 06:19 PM

The Caribbean Disaster Emergency Management Agency (CDEMA) reports a volcanic eruption has been detected at La Soufriere on the Caribbean island of St. Vincent Sunday afternoon. 

“At 4:49 pm on 18/04/21, there was another explosive eruption at LS. It’s been 52 hours since the last explosive event. There have now been at least 30 identifiable explosive events since the start of this eruptive phase. We continue to monitor and will provide an update in this evening’s advisory,” CDEMA stated. 

SkyAlert, a Mexico-based early earthquake warning company, posted a video of the alleged eruption. It said a “high eruptive column and possible pyroclastic surges,” adding that “thousands of people are still sheltered in lower-risk areas.”

The latest explosive eruption showed up on satellite imagery. 

St. Vincent’s National Emergency Management Organization (NEMO) released a statement that “ash clouds are moving towards the south and west of the island. “Alert level remains RED,” NEMO warned. 

Last week, tens of thousands of residents were evacuated from the island’s northern region, where La Soufriere is located. 

At the moment, the island is completely covered with ash from multiple eruptions.

 Before And After 

Before And After 

Here is more devastation from the ashfall. 

The entire Caribbean island is on the verge of a humanitarian crisis. The ashfall from eruptions has contaminated the island’s water supply and decimated crops. 

 
 
 
 
END

 

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

Euro/USA 1.2033 UP .0053 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 /ALL GREEN EXCEPT GERMAN DAX 

USA/JAPAN YEN 108.14 DOWN 0.536 (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 1.3911  UP   0.0097  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2491 DOWN .0007 CANADA WORRIED ABOUT TRADE WITH THE USA WITH TRUMP ELECTION/ITALIAN EXIT AND GREXIT FROM EU/(TRUMP INITIATES LUMBER TARIFFS ON CANADA/CANADA HAS A HUGE HOUSEHOLD DEBT/GDP PROBLEM)

Early THIS  MONDAY morning in Europe, the Euro ROSE  BY 53 basis points, trading now ABOVE the important 1.08 level RISING to 1.2033 Last night Shanghai COMPOSITE UP 50.93 PTS OR 1.49% 

//Hang Sang CLOSED UP 136.44 PTS OR 0.47%

/AUSTRALIA CLOSED UP 0.03% // EUROPEAN BOURSES CLOSED ALL GREEN EXCEPT GERMAN DAX

Trading from Europe and Asia

EUROPEAN BOURSES CLOSED ALL GREEN EXCEPT GERMAN DAX

2/ CHINESE BOURSES / :Hang Sang UP 136.44 PTS OR 0.47%  

/SHANGHAI CLOSED UP 50,93 PTS OR 1.49% 

Australia BOURSE CLOSED UP 0.03%  

Nikkei (Japan) CLOSED UP 2.00  POINTS OR 0.01%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1781.60

silver:$26.05-

Early MONDAY morning USA 10 year bond yr: 1.583% !!! DOWN 0 IN POINTS from FRIDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 2.268 DOWN 1  IN BASIS POINTS from FRIDAY night.

USA dollar index early MONDAY morning: 91.12 DOWN 44 CENT(S) from MONDAY’s close.

This ends early morning numbers MONDAY MORNING

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And now your closing  MONDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.41% UP 12 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.086%  DOWN 0   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/56

SPANISH 10 YR BOND YIELD: 0.41%//  UP 2 in basis point yield from yesterday.

ITALIAN 10 YR BOND YIELD:  0.79 UP 4 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 38 points higher than Spain.

GERMAN 10 YR BOND YIELD: RISES TO –.23% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.02% 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 MONDAY

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

Euro/USA 1.2031   UP    .0057 or 57 basis points

USA/Japan: 108.06  DOWN .623 OR YEN UP 62  basis points/

Great Britain/USA 1.3986 UP .0174 POUND UP 174  BASIS POINTS)

Canadian dollar DOWN 16 basis points to 1.2514

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The USA/Yuan,  CNY: closed    ON SHORE  (UP).. 6.5102

THE USA/YUAN OFFSHORE:  6.750  (YUAN UP)..6.5105

TURKISH LIRA:  8.07  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.086%

Your closing 10 yr US bond yield DOWN 0 IN basis points from FRIDAY at 1.585 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 2.275 UP 0 in basis points on the day

Your closing USA dollar index, 91.11 DOWN 44  CENT(S) ON THE DAY/1.00 PM/

Your closing bourses for Europe and the Dow along with the USA dollar index closing and interest rates for MONDAY: 12:00 PM

London: CLOSED DOWN 16.61 PTS OR 0.24% 

 

German Dax :  CLOSED DOWN 71.40 PTS OR .46% 

 

Paris Cac CLOSED UP 20.02 PTS OR .32% 

 

Spain IBEX CLOSED UP  112.70  PTS OR1.31%  

 

Italian MIB: CLOSED DOWN 52.81 PTS OR .21% 

 

WTI Oil price; 63.08 12:00  PM  EST

Brent Oil: 66.84 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    76.32  THE CROSS  HIGHER BY 0.71 RUBLES/DOLLAR (RUBLE LOWER BY 71 BASIS PTS)

TODAY THE GERMAN YIELD RISES  TO –.23 FOR THE 10 YR BOND 1.00 PM EST EST

END

This ends the stock indices, oil price, currency crosses and interest rate closes for today 4:30 PM

Closing Price for Oil, 4:00 pm/and 10 year USA interest rate:

WTI CRUDE OIL PRICE 4:30 PM : 63.38//

BRENT :  67.11

USA 10 YR BOND YIELD: … 1.594..UP 1 basis points…

USA 30 YR BOND YIELD: 2.300 UP  2 basis points..

EURO/USA 1.2036 ( UP 62   BASIS POINTS)

USA/JAPANESE YEN:108.17 DOWN .516 (YEN UP 52 BASIS POINTS/..

USA DOLLAR INDEX: 91.11 DOWN 35 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3986 UP 174  POINTS

the Turkish lira close: 8.09

the Russian rouble 76.30   DOWN 0.69 Roubles against the uSA dollar. (DOWN 69 BASIS POINTS)

Canadian dollar:  1.2533  DOWN  35 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.23%

The Dow closed DOWN 123.04 POINTS OR 0.36%

NASDAQ closed DOWN 134.24 POINTS OR 0.96%


VOLATILITY INDEX:  17.64 CLOSED up 1.39

LIBOR 3 MONTH DURATION: 0.189%//libor dropping like a stone

USA trading day in Graph Form

Cryptos Crushed, Dollar Dumped, Semis Slammed As VIX Spikes

 
MONDAY, APR 19, 2021 – 04:03 PM

Bitcoin, the buck, bonds, big-tech (and small caps) were all sold today amid a vacuum of economic data, COVID uncertainties, and “infrastructure” bill size negotiations. It seems investors just didn’t like Monday…

Small Caps were the worst performer today (and the cash open sparked chaos in that index). The Dow was the least worst of the majors with Nasdaq lagging just behind Small Caps…

Small Caps broke back down below its 50DMA…

The Dow has not had a down-1% day in the last 30 sessions…

Source: Bloomberg

Seems like a pattern is emerging…

Source: Bloomberg

Algos were unable to ignite any momentum today through a short-squeeze…

Source: Bloomberg

VIX spiked from 16 to 18.5 today…

Credit markets tracked VIX wider in spreads…

Source: Bloomberg

Altria plunged on headlines about the Biden admin cracking down on nicotine…

Semi stocks slumped today – biggest daily drop in a month…

TSLA tanked today after the deadly Texas crash…

And ARKK fell with it…

COIN was down again today…

And the Bitcoin proxy stocks also extended recent weakness (MSTR is now down 25% since thew COIN listing)…

Source: Bloomberg

Crypto was clubbed like a baby seal over the weekend, tumbling 20-25% on unfounded rumors of US crackdown before bouncing back on headlines from China appearing to ease their crackdown…

Source: Bloomberg

Bitcoin puked from over $62k to below $52k (with the big plunge from $59k to $52k on Sunday evening) before bouncing back…

Source: Bloomberg

Bonds were bid during the Asia session, dumped during Europe and relatively bid in the US session early on (30Y +2.5bps, 2Y unch)…

Source: Bloomberg

10Y yields were marginally higher but we note that the early spike stalled at Thursday’s ledge…

Source: Bloomberg

The dollar index resumed its weakness today…

Source: Bloomberg

Breaking below its 100DMA…

Source: Bloomberg

Despite the dollar weakness, gold gave back its overnight gains and then some…

Palladium surged back near record highs…

Source: Bloomberg

“A series of positive supply and demand factors have been driving up prices,” said Philip Klapwijk, managing director of Hong Kong-based consultant Precious Metals Insights Ltd.

“That at the margin will also have sucked in some speculative trend-following money.”

WTI managed gains today, pushing back above $63…

Finally, we note that the S&P 500 is now 15% above its 200DMA, a level that in the past has marked a turning point…

Source: Bloomberg

And hey, Financial Conditions are officially at their easiest level in US history…

Source: Bloomberg

…what could go wrong?!

a)Market trading/LAST NIGHT/USA

b)MARKET TRADING/USA//THIS AFTERNOON

 
ii) Market data
 
 
 

iii) Important USA Economic Stories

RIOTS/MAJOR USA CITIES

Riots erupt on Friday and Saturday nights in major USA cities

(Stieber/EpochTimes)

Riots Erupt Across US In Wake Of Police Shootings

 
SATURDAY, APR 17, 2021 – 12:00 PM

Authored by Zachary Stieber via The Epoch Times,

Demonstrations took place in a slew of major U.S. cities on Friday night, with some devolving into riots, in the wake of several deadly police shootings.

In Brooklyn Center, where 20-year-old Daunte Wright was fatally shot on April 11 after resisting arrest, a peaceful march swelled in size after returning to the police headquarters, and agitators began trying to tear down fencing protecting the building and lobbing projectiles at law enforcement.

Individuals wearing hockey gear, gas masks, and respirators, armed with weapons like baseball bats, got through a breach in the exterior fence, triggering law enforcement to order the crowd to disperse.

Most of those who had gathered did leave but the ones who did not were arrested, with upwards of 100 taken into custody.

“It left people behind who were intent to cause destruction and disorder. When somebody, a group of these people wearing masks are trying to cut down the fence to get into a safe area, their intentions are to cause harm either to the building or to the police officers and the deputies inside the fence. Again, violence is not going to be tolerated by myself or this operation. We need to grieve. We don’t need to have more problems with destruction,” David Hutchinson, the Hennepin County sheriff, told an early Friday morning briefing in the city.

Members of the crowd spraypainted “Death to Amerika [sic]” and “ACAB,” an anti-police acronym favored by the far-left Antifa network.

People face crowd control measures from a group of law enforcement officers after trying to tear down fencing around the Brooklyn Center Police Department, in Brooklyn Center, Minn., on April 16, 2021. (Chandan Khanna/AFP via Getty Images)

“We would like nothing better for all of our protests to go peacefully. It’s not fair to those that protest peacefully when the violent ones come in. If you’re going to commit violence, we’d prefer you not do that in Brooklyn Center, right, because it’s not fair to the citizens. They have enough going on right now as it is,” added Tony Gruenig, Brooklyn Center’s interim police chief.

Rioters in Portland smashed windows at various businesses, including Nordstrom and Nike, and torched an Apple location, after police fatally shot a man at a nearby park.

Officers rushed to the scene to make targeted arrests, once again leaving law enforcement resources stretched too thin.

The Portland Police Bureau had to place on hold calls for service, including for burglaries and a hit and run, the bureau said in an incident summary. At 10:49 p.m., 79 calls were on hold.

Four people were arrested, though one was quickly released from jail. Firefighters put out the fires, with the extent of the damage not yet clear.

“No one is entitled to break windows, set fires, or attack police officers. If you choose to participate in this kind of criminal activity, you can expect to be arrested and prosecuted,” Chris Davis, Portland’s deputy police chief, said in a statement.

“None of this destruction tonight has anything to do with the important work of racial justice and reconciliation our community and our nation need at this critical time in our history.”

A crowd of 250 to 300 demonstrators assaulted both a community member and a police officer, broke windows, spray-painted buildings, and set a car on fire in Oakland, California, officials there said.

Rioters set fire to the California Bank and Trust building in Oakland, Calif., on April 16, 2021. (Ethan Swope/AP Photo)

No arrests were made and no citations were issued.

Demonstrators were upset about the shooting of Wright, as well as another recent police shooting in California, of Tyrell Wilson.

Kim Potter, the former officer who fired on Wright, was charged this week with second-degree manslaughter. Andrew Hall, the Danville officer who fatally shot Wilson when the man refused to drop a knife he was holding in March, was sued this week by Wilson’s family.

A police union official in Minnesota has said Wright would still be alive he had complied with orders while a union official in Illinois called the fatal shooting of Adam Toledo, a 13-year-old who was shot by an officer on March 29 after evading the police, justified.

In Chicago, protesters gathered Friday to speak out about the Toledo shooting.

“The rage does feel deeper now than it was even 24 hours ago or the start of the week,” Julie Wilson, one of the protesters, told CBS Chicago.

The crowd of approximately 1,000 clashed with police officers who arrived to disperse them from Logan Square Park. It was not clear if any arrests were made.

Demonstrations also took place in Raleigh, North Carolina and Washington.

END
FENTANYL
Fentanyl use is escalating everywhere.  In Las Vegas a 200$ surge in overdose deaths
(zerohedge)

“Fentanyl Is Here:” Las Vegas Suffers 200% Surge In Overdose Deaths

 
SATURDAY, APR 17, 2021 – 10:30 PM

America has been engulfed with a drug problem for decades, but the situation is quickly deteriorating as the largest inbound fentanyl traffic into the country was recently reported. Not surprising, but Las Vegas has been the latest metro area to suffer an “alarming” surge in overdose deaths.

According to Las Vegas Sun, fentanyl killed 219 people in the Las Vegas Valley in 2020, a stunning 200% increase from the prior year. 

During the 2015-18 opioid crisis that ravaged many metros across the US, Clark County, Nevada, the area that houses Las Vegas, recorded annual reductions in opioid overdoses and deaths. 

Since then, Mexican fentanyl has flooded the town, and overdoses/deaths have soared. 

We said fentanyl was coming,” Metro Police Capt. John Pelletier told reporters Thursday. “Fentanyl is here.”

Reporters questioned Pelletier about how the drug crisis is going so far (on a year-to-date basis), he answered: “not good.” 

“Clark County fentanyl deaths are on par with the “alarming” 30% increase in total overdose deaths in 2020, when 768 people succumbed to them, compared with 591 in 2019,” Pelletier said, adding that 31 people were killed in the county in August, an average of about one per day. 

Last week, Metro Police announced the creation of the Overdose Response Team, a task force comprised of local police and federal agencies. The task force would pursue murder charges for dealers accused of killing clients with drugs. 

Another issue in Las Vegas and across Clark County is counterfeit pills that look identical to prescription medications are cut with fentanyl and have been responsible for overdoses and deaths. 

The rise in fentanyl use across Clark County coincided with multiple things, such as a socio-economic implosion of Vegas during lockdowns, where tens of thousands of people lost their jobs. At the same time, Mexican drug cartels were pumping record amounts of the drug into the US – some describe this as a ‘perfect storm.’

“This emergency, this situation, does not discriminate,” Pelletier said. “It does not care how old you are; it does not care where you live.”

… and Pelletier is correct. The drug crisis has dramatically worsened since the pandemic began, with many streets in various metro areas have transformed into a “zombie apocalypse.” 

Right now, Mexican drug cartels are pumping US streets with fentanyl, and the Biden administration doesn’t seem too worried about doing anything to stop this from happening with their relaxed border policies. 

Vegas and the surrounding county are the next victims of the fentanyl crisis. Those partying in Vegas, be careful what party drugs you ingest. It could very well be cut with fentanyl. 

END

USA/AFGHANISTAN/TALIBAN

Biden is not ending USA involvement in the Afghan war: he will use mercenaries

Dave DeCamp/Antiwar.com

Biden Isn’t Ending The Afghan War, He’s Privatizing It

 
SATURDAY, APR 17, 2021 – 01:00 PM

Authored by Dave DeCamp via AntiWar.com,

‘Unclear’ If Over 18,000 Contractors Will Ever Leave Afghanistan: Pentagon

While President Biden said he will withdraw troops from Afghanistan, it’s not clear if his plan extends to the thousands of contractors working for the Pentagon that are still in the country.

When asked about this issue on Friday, Pentagon spokesman John Kirby said he wasn’t sure. “So on the contractors, we don’t know exactly.  There are some preliminary plans.  And clearly, the goal is to get all our personnel out and I suspect that contractors will be part of that. But whether there’ll still be a need for some contractor support, I just don’t know,” he said.

 

Via Pinterest

The US plans to continue supporting the Afghan military and Air Force. Since the bulk of the maintenance for these armed forces is performed by US contractors, there’s a good chance the Pentagon will justify a continued presence of private contractors.

According to numbers released in January, there are over 18,000 contractors working in Afghanistan. About 4,700 of the current contractors are Afghans that were hired locally. The remaining come from outside of the country, including about a third who are US citizens.

According to Stars and Stripes, 1,575 of the contractors are armed mercenaries, mostly Americans and other foreigners. While this number is only a small fighting force, it could be combined with intelligence operatives and proxies like the Afghan military to give the US the ability to strike inside Afghanistan.

Secretary of Defense Lloyd Austin said on Wednesday that the US wants to maintain “counterterrorist assets” in the region. On Tuesday, The New York Times cited current and former US officials who said the US “will most likely rely on a shadowy combination of clandestine Special Operations forces, Pentagon contractors and covert intelligence operatives” to conduct operations inside Afghanistan.

US Special Forces in Afghanistan dress in traditional clothing and try to recruit locals for anti-Taliban operations (Source: ABC News)

In a separate note, Jeremy Kuzmarov notes, the meaninglessness of President Biden’s announcement becomes apparent when we consider that the Pentagon employs more than seven contractors for every serviceman or woman in Afghanistan, an increase from one contractor for every serviceman or woman a decade ago.

These totals reflect the U.S. government’s strategy of outsourcing war to the benefit of private mercenary corporations, and as a means of distancing the war from the public and averting dissent, since relatively few Americans are directly impacted by it.

As long as the U.S. empire remains intact, the war as such will go on, and on… and on.

END

Western US States Prepare For 1st-Ever Water Shortage Declaration; Hoover Dam Hydroelectric Generation At Risk

 
SUNDAY, APR 18, 2021 – 11:40 AM

As the man-made lakes which store water for millions of people in the western United States are projected to shrink to historic lows in the coming months, state officials prepare for what could trigger the first-ever federally declared water shortage, which would prompt cutbacks in water usage in Arizona and Nevada.

 

Hoover Dam

According to the Associated Press, the US Bureau of Reclamation’s 24-month projections released this week forecast that less water will flow from the Rocky Mountains through Lake Powell and Lake Mead, and into the Southwest desert regions to the Gulf of California. The two lakes are expected to suffer from water shortages that could threaten the supply of the Colorado River which farms and sprawling cities rely on.

Lake Mead is projected to fall below 1,075 feet for the first time in June 2021, the level which will trigger the shortage declaration under agreements negotiated by seven states which are reliant on Colorado River water; Arizona, California, Colorado, Nevada, New Mexico, Utah and Wyoming.

That said, the April projections won’t have any material affect unless conditions fail to improve – in which case the Bureau of Reclamation will declare a Level 1 shortage condition, resulting in cuts that would take effect next January.

Arizona, Nevada and Mexico have voluntarily given up water under a drought contingency plan for the river signed in 2019. A shortage declaration would subject the two U.S. states to their first mandatory reductions. Both rely on the Colorado River more than any other water source, and Arizona stands to lose roughly one-third of its supply.

Water agency officials say they’re confident their preparation measures, including conservation and seeking out alternative sources, would allow them to withstand cuts if the drought lingers as expected. -AP

“The study, while significant, is not a surprise. It reflects the impacts of the dry and warm conditions across the Colorado River Basin this year, as well as the effects of a prolonged drought that has impacted the Colorado River water supply,” said Arizona officials from the state’s Department of Water Resources and the Central Arizona Project, in a joint statement.

In Nevada, special “straws” have been constructed to draw water from further down lake mead if levels fall – and the state has created a credit system where it can ‘bank’ recycled water back into the reservoir without having it count towards its allocation, according to the report.

Southern Nevada Water Authority director of water resources, Colby Pellegrino, told customers recently that those preparation measures would insulate them from any cuts – but warned that more action is needed.

“It is incumbent upon all users of the Colorado River to find ways to conserve,” she said in a statement.

At Lake Mead, water level are projected in the Bureau of Reclamation report to drop to the point where electricity generation at the Hoover Dam could be compromised – as the hydropower plant serves millions of customers in Arizona, California and Nevada.

To prepare for a future with less water, the bureau has spent 10 years replacing parts of five of the dam’s 17 turbines that rotate to generate power. Len Schilling, a dam manager with the bureau, said the addition of wide-head turbines allow the dam to operate more efficiently at lower water levels. He said the turbines will be able to generate power almost to a point called “deadpool,” when there won’t be enough water for the dam to function.

But Schilling noted that less water moving through Hoover Dam means less hydropower to go around.

As the elevation declines at the lake, then our ability to produce power declines as well because we have less water pushing on the turbines,” he said. -AP

As Michael Snyder of TheMostImportantNews noted earlier this month; Scientists have begun using the term “megadrought” to describe the multi-year drought that has been plaguing the western half of the country, and now we are being told that it looks like 2021 will be the worst year of this “megadrought” so far by a wide margin.  That is extremely troubling news, because major water reservoirs have already dropped to dangerously low levels, some farmers have been told that they will not be allowed to use any water at all this year, and the dust storms in the western U.S. are becoming so large that they can actually be seen from space.  This is a major national crisis, and it is only going to get worse.

As you can see from the latest U.S. Drought Monitor mapnearly the entire western half of the nation is experiencing some level of drought at this moment.

But even more alarming is the fact that much of that territory is currently in one of the three most serious levels of drought

A year ago, about 4% of the West was in a severe drought. Now, about 58% of the West is classified as being in a severe, extreme or exceptional drought.

As conditions just get drier and drier, many farmers have become deeply concerned about what that will mean for growing season in 2021.

New Mexico is right in the heart of “the second Dust Bowl”, and chile farmer Glen Duggins is bracing for a very difficult year

The Rio Grande is expected to be in extreme drought this year, creating tough conditions for local farmers and putting New Mexico‘s beloved chile in danger. “It’s gonna be a tough year because we are out of water,” said Glen Duggins, a chile farmer out in Socorro County.

When he says that they are “out of water”, he is not exaggerating.

It is only early April, and the largest reservoir in the entire state “stands at less than 11% capacity”

*  *  *

According to Lincoln County Power District General Manager Dave Luttrell, a combination of infrastructure updates, less hydropower from Hoover Dam and power generated from other sources such as natural gas has raised costs and alarmed customers in the rural Nevada district he represents. 

“Rural economies in Arizona and Nevada live and die by the hydropower that is produced at Hoover Dam. It might not be a big deal to NV Energy,” said Luttrell of Nevada’s largest utility. “It might be a decimal point to Los Angeles Department of Water and Power. But for Lincoln County, it adds huge impact.”

END
BORDER CRISIS
Finally Biden admits that there is a crisis at the border
(zerohedge)

Biden Finally Admits There’s A “Crisis” At The Border

 
SUNDAY, APR 18, 2021 – 03:00 PM

After months of his administration downplaying chaos at the southern US border which started after the 2020 election, President Biden has finally admitted that what’s happening is indeed a ‘crisis.’

 

Migrants enter the United States near Yuma, AZ

In Saturday comments during an off-the-cuff Q&A with reporters in Wilmington, Deleware after his first game of golf as president, Biden said: We’re going to increase the number [of refugees allowed into the country],” adding “The problem was that the refugee part was working on the crisis that ended up on the border with young people,” according to the New York Post.

“We couldn’t do two things at once,” he added. “But now we are going to increase the number.”

The Post translates: 

In his somewhat garbled comment, Biden seemed to be saying that the strain of handling the influx of migrant children has overtaxed the nation’s immigration authorities — making it impossible for them to handle an increase in authorized refugees as well.

On Friday, hours after Biden signed an executive order retaining the Trump administration’s 15,000-person cap on refugee admissions for this year, White House press secretary Jen Psaki issued a hasty announcement saying that the White House will unveil an undisclosed higher cap on May 15.

The sudden switcheroo came after progressive Democrats, led by Reps. Pramila Jayapal (D-Wash.) and Alexandria Ocasio-Cortez (D-N.Y.), excoriated the initial decision on social media.

By using the word “crisis” – possibly on accident – Biden has now given the press tomatoes to pelt White House spox Jen Psaki during Q&A, after the administration avoided using the term for months. 

In March alone, 172,000 migrants were arrested after illegally entering the United States – a 15-year record which has overwhelmed US Customs and Border Patrol.

Perhaps Biden shouldn’t have promised illegal migrants the world during the 2020 US election. Virtue signaling has consequences.

iv) Swamp commentaries

Another Leftist Narrative Collapses As Chief M.E. Confirms Sicknick Had 2 Strokes, Died Of Natural Causes

 
MONDAY, APR 19, 2021 – 04:51 PM

Remember this from The New York Times on January 8th

“Mr. Sicknick, 42, an officer for the Capitol Police, died on Thursday from brain injuries he sustained after Trump loyalists who overtook the complex struck him in the head with a fire extinguisher, according to two law enforcement officials.”

And how it was peddled as fact, not pure speculation, rumor, or fantasy and parroted by every NeverTrumper as confirmation that Trump’s action led to the “murder” of a Capitol policeman.

As a gentle reminder, a month later, NYTimes quietly retracted that claim:

UPDATE: New information has emerged regarding the death of the Capitol Police officer Brian Sicknick that questions the initial cause of his death provided by officials close to the Capitol Police.

And remember how a few weeks after that the officer’s mother said in an interview that the family also remained in the dark, though they believed that being bludgeoned was not the cause of death.

He wasn’t hit on the head, no. We think he had a stroke, but we don’t know anything for sure. We’d love to know what happened,” said Sicknick’s mother, Gladys Sicknick.

And at the same time, no lesser establishment tool than FBI Director Christopher Wray refused to tell senators Sicknick’s cause of death. Wray claimed an “ongoing” investigation into Sicknick’s death (two months after the officer’s death!)

“I certainly understand and respect and appreciate the keen interest in what happened to him — after all, he was here protecting all of you. And as soon as there is information that we can appropriately share, we want to be able to do that. But at the moment, the investigation is still ongoing,” Wray said at a Senate Judiciary Committee hearing.

“We’re not at a point where we can disclose or confirm the cause of death.”

Well, we finally have some answers… and SURPRISE, they are not in keeping with the liberal media’s narrative.

The Washington Post reported today that the D.C. chief medical examiner has ruled that Capitol Police Officer Brian Sicknick suffered two strokes and died of natural causes the day after he took part in defending the Capitol during the Jan. 6 riots.

Medical examiner Francisco J. Diaz, in an interview with the Post, said that Sicknick’s autopsy did not find any evidence that the 42-year-old officer suffered an allergic reaction to the chemical substance, which Diaz said would have caused Sicknick’s throat to seize.

Diaz also said there were no indications of internal or external injuries.

And just like that, another lie is exposed…

R,I.P. Officer Sicknick.

END

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

Bitcoin slumps 14% as pullback from record gathers pace
Data website CoinMarketCap cited a blackout in China’s Xinjiang region, which reportedly powers a lot of bitcoin mining, for the selloff…”The power outage does expose a fundamental weakness; that although the Bitcoin network is decentralized the mining of it is not,” Sully added.
https://www.reuters.com/technology/bitcoin-falls-111-53356-2021-04-18/?taid=607c5d6a5a08ec0001320134

 

US imposes sanctions on Russia-linked Bitcoin addresses.  [But it’s anonymous!  Ex-ID addresses]
As a pseudonymous, open-source transactions system, there is question about how effectively the U.S. government can enforce sanctions imposed on the use of Bitcoin. But this recent action indicates that it certainly wants to… https://www.nasdaq.com/articles/u.s.-imposes-sanctions-on-russia-linked-bitcoin-addresses-2021-04-16

Bitcoin Crashes as Much as 15% Amid Unsubstantiated Report of Money Laundering Crackdown
@Fxhedgers: U.S. TREASURY TO CHARGE SEVERAL FINANCIAL INSTITUTIONS FOR MONEY LAUNDERING USING CRYPTOCURRENCIES  -SOURCES…
https://www.zerohedge.com/markets/bitcoin-crashes-much-15-amid-unsubstantiated-report-money-laundering-crackdown

@FirstSquawk: India Govt is about to ban cryptocurrencies, fining anyone trading in the country or even holding such assets. The bill, one of the world’s strictest policies against cryptocurrencies, would criminalize any direct involvement with crypto.

@dlacalle_IA: Central Bank Digital Currency May Be Surveillance Disguised as Money.
https://t.co/avRxy30u9z

Dogecoin extends record-shattering weekly gain to 520% after another inscrutable tweet from Elon Musk [Yet Powell and his lying or stupid ilk see no market dislocations!]
https://markets.businessinsider.com/currencies/news/dogecoin-price-today-elon-musk-tweet-weekly-gain-coinbase-listing-2021-4-1030313036

 

@CNBC: Dogecoin started out as a joke. Now it’s a top 10 digital currency worth $40 billion.
https://www.cnbc.com/2021/04/16/dogecoin-doge-price-meme-cryptocurrencys-rise-sparks-bubble-fears.html

On Thursday, JPM issued a record $13B of bonds.  The underwriters received $26B in bids.  On Friday, Bank of America broke JPM’s record with a bond sale of $15B.  Bank lending is “challenged” according to Jamie Dimon.  If bank lending is soft, why are big banks issuing so much debt?  Are they borrowing like mad because they see rates rising significantly?  Do they fear an economic downturn?  Is it both?

@zerohedge: In a normal world, the financial media would be discussing why the US banking system has not issued any new loans since the Lehman crisis instead of focusing on dogecoin. https://t.co/rcg8W5Kh5C

“Stunning Divergence”: Latest Bank Data Reveals Something Is Terminally Broken in The Financial System – JPMorgan… reported that in Q1 its total deposits rose by a whopping 24% Y/Y and up 6% from Q4, to $2.278 trillion, while the total amount of loans issued by the bank was virtually flat sequentially at $1.011 trillion, and down 4% from a year ago
https://www.zerohedge.com/markets/stunning-divergence-latest-bank-data-reveals-something-terminally-broken-financial-system

Dimon’s Detached View of Economic Realities
“I have little doubt that with excess savings, new stimulus, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine, and euphoria around the end of the pandemic, the U.S. economy will likely boom. This boom could easily run into 2023 because all the spending could extend well into 2023.” – Jamie Dimon [On “60 Minutes”]
     To begin with, the vast majority of American’s do not have excess savings. If they did, then repeated stimulus payments wouldn’t be needed to support economic growth. The reality is “savings” get skewed by the top 20% of income earners, notably the 0.01% like Jamie Dimon.  The top 5%, of income earners skew the measure. Those in the top 20% have seen substantially larger median wage growth versus the bottom 80%. (Note: all data used below is from the Census Bureau and the IRS.)”…
https://www.zerohedge.com/markets/dimons-detached-view-economic-realities

Why should anyone hold esteem for the CEOs of enterprises that are conjoined so closely with the Fed and US government that their risks are socialized while the execs profit handsomely from advantages that no other industry has?  We will spare you a count of the times that big banks had to be bailed out since Continental Bank (Chicago) failed in 1984.

Positive aspects of previous session
An overnight and afternoon ESM manipulation appeared

Russian military vehicles with ‘invasion stripes’ descend on Ukraine border https://trib.al/vGxXmCK

 

@disclosetv: Russia expels 10 American diplomats and puts 8 members of the current and former US administration on the no-entry list, including FBI Director Wray.

NewsMax’s @EmeraldRobinson: We are witnessing the Democrat Party’s merging of the federal administrative state (which it largely controls) with its crony capitalist corporations and its media allies together into a kind of proto-state apparatus.

The US Police State’s enforcers are getting bolder.

DOJ Is Reportedly Investigating Ex-Trump Official Who Debunked the Russia Collusion Narrative
Kash Patel, the former GOP congressional aide who uncovered the FBI’s surveillance abuse against the Trump campaign, is the target of a federal leak investigation…
    “Kash embarrassed intelligence officials by getting documents declassified showing the Russia collusion investigation was a fraud…Now they’re getting payback and making an example out of him.”
“These guys fight dirty.”… https://dailycaller.com/2021/04/16/kash-patel-fisa-russia-investigation/

@JackPosobiec: Biden did not come down to greet Japanese PM because he was ‘feeling under the weather’ this morning, per WH official. 

 

Biden bizarrely calls 29-year-old Masters winner Hideki Matsuyama a ‘Japanese boy’ during Rose Garden press conference with PM Suga – The pair both talked about how they would tackle the challenges of China, North Korea, anti-Asian hate crime, climate change and the COVID pandemic…
https://www.dailymail.co.uk/news/article-9480621/Biden-calls-Masters-winner-Hideki-Matsuyama-Japanese-boy-press-conference-PM-Suga.html

Biden Blames Russia for the Exact Same “Interference” That US Corporate Media Is Guilty of
https://www.zerohedge.com/political/biden-blames-russia-exact-same-interference-us-corporate-media-guilty

President decides to reconsider refugee limit after outcry from the left [Who really made the decision on Friday?] https://www.foxnews.com/politics/white-house-biden-refugee-cap-dem-fury-over-original-target

@MaxAbrahms: It is so ridiculous watching the media swoon over Biden adopting Trump’s plan in Afghanistan given the media’s opposition to the same plan when Trump was president. At that time withdrawing meant being a Russian asset & rewarding made-up Russian bounties.

WaPo: With Afghanistan decision, Biden restores foreign policymaking process that Trump had largely abandoned [Utterly deceitful fake news!]  https://t.co/f4grDNRSFR

Biden hits 59 percent approval rating in Pew poll http://hill.cm/UFDncXf [Another invalid poll!]
    @MikeDorstewitz: It’s not until you go to page 7 of the actual poll that you learn that the sample consisted of:1,706 Republican / leaning Republican; and 3,253 Democrat / leaning Democrat

@j_arthur_bloom: Read in @nypost today about the fake Russian bounties story falling apart. The question now is who put the fake story in Trump’s written briefing two days before the peace deal was signed? Sure looks like an attempt to sabotage ithttps://t.co/XhlDqkwNrL

Liz Cheney Was A Primary Culprit of Spreading Fake News on Russian Bounties to Undermine Trump – As the story of Russian bounties on U.S. troops gained traction in the press, Liz Cheney seized the opportunity to undermine her own party… Cheney appeared to sense a prime opportunity to capitalize on what was treated as a scandal, to not only undermine Trump, but also justify a prolonged military presence in the region while the administration took steps to pull out… [Like her daddy Dick?]
https://thefederalist.com/2021/04/16/liz-cheney-was-a-primary-culprit-of-spreading-fake-news-on-russian-bounties-to-undermine-trump/

Charles Barkley Says The “System” & Politicians Want Black & White People to Hate Each Other… https://t.co/Cym6eKFKYR

Sen. Cruz criticizes Rep. Waters for urging violence in Minn., says far-left Democrats seek to divide this country to maximize their own power – https://oann.com/sen-cruz-criticizes-rep-waters-for-urging-violence-in-minn-says-far-left-democrats-seek-to-divide-this-country-to-maximize-their-own-power/

Maxine Waters attends protest over police killing of Daunte Wright
“We’ve got to stay in the streets, and we’ve got to demand justice,” she urged the crowd, according to one tweeted clip.  “We’re looking for a guilty verdict” in Derek Chauvin’s trial for the police killing of George Floyd, where deliberations will begin next week, she said.  “And if we don’t, we cannot go away,” she added. “We’ve got to get more confrontational.”… https://trib.al/i8xwggY

@breeadail: Rep. Waters (D-CA) to BLM protesters in Brooklyn Center, MN: “[Protestors] got to stay on the street and get more active, more confrontationalThey’ve got to know that we mean business.

@Not_the_Bee: Watch this clip of Maxine Waters talking about the Derek Chauvin trial. How is this not inciting violence? How is it not jury intimidation? [Jury tampering, crossing state lines to incite mayhem, violating the civil rights of a defendant, etc.  But liberal privilege trumps all!] https://t.co/cM5boRtpV3

@InformedAnthony: Hours after @MaxineWaters (D)-CA called for protestors in Brooklyn Center to be “more confrontational” and to not stop coming out to protest, Two National Guardsmen were shot at in a drive by shooting and taken to hospital for non-life-threatening injuries.

NY Post Editorial Board: Impeach and Remove Maxine Waters
In supporting the second impeachment of President Trump, California Democrat Rep. Maxine Waters said he was “inciting” his followers and was “trying to create a Civil War.” By her own standards, Maxine Waters should be impeached and removed.
    On Sunday in Minnesota, Waters, breaking the law by violating curfew (because “she didn’t agree with it”) said that if ex-police officer Derek Chauvin is not found guilty of murdering George Floyd, “We’ve got to get more confrontational.”… Maxine Waters is trying to create a Civil War, and her irresponsible rhetoric is inciting violence…  https://t.co/5frkMYEicb

House Minority Leader Kevin McCarthy @GOPLeader: Maxine Waters is inciting violence in Minneapolis — just as she has incited it in the past. If Speaker Pelosi doesn’t act against this dangerous rhetoric, I will bring action this week.

@CarmineSabia: How many times can Rep. Maxine Waters call for violence and face no consequences?

@w_h_thompson tweeted at 10:15 PM on Sun, Apr 11, 2021: 99 people were shot last week in Chicago, 20 fatally. Same week last year: 79 shot, 23 fatally.  2021 YTD: 165 killed, 707 wounded, 2020 YTD: 137 killed, 515 wounded https://t.co/tsxauDdzSw  [Why don’t these black lives matter?]

CBS News Edited Body Cam Video to Mask Teen [Chgo] Holding Gun Before He Was Fatally Shot https://t.co/P3nY5a4ZM8

BLM Mob Descends on [Chicago Mayor] Lori Lightfoot’s Neighborhood, Clash with Chicago Police

@CWBChicago: Man charged with murder today was supposed to be home on electronic monitoring for a pending gun case, prosecutors say.  He’s the 16th person charged with killing, trying to kill, or shooting someone in Chicago this year while on bond for another felony.
https://cwbchicago.com/2021/04/16-man-chased-down-and-killed-victim-while-on-electronic-monitoring-for-gun-case-prosecutors-say.html

Tribune’s @John_Kass: And the jacobins want to defund police & applaud no cash bail etc. then the social justice warriors calmly step over the victims on the way to another anti-police protest. This is Chicago ruled by the woke.

Violence and protests occurred in over a half dozen big cities in the US on Friday night.  Big media is largely mum because it would reflect poorly on The Big Guy – after all he is the titular POTUS and the media pounded Trump over similar protests, riots and violence.

Breonna Taylor’s Mom Blasts ‘Fraud’ Black Lives Matter, Says She’s ‘Sick’ of The Group
“I could walk in a room full of people who claim to be here for Breonna’s family who don’t even know who I am, I’ve watched y’all raise money on behalf of Breonna’s family who has never done a damn thing for us nor have we needed it or asked so talk about fraud,” Palmer added…
https://beckernews.com/breonna-taylors-mom-blasts-fraud-black-lives-matter-says-shes-sick-of-them-38615/

The FBI, again, failed to prevent a mass murder from a suspect that was on its radar.  Outside of storming GOP types’ homes, plotting coups and falsifying FISA requests, what is the agency doing these days?

FBI SAYS IT INTERVIEWED SUSPECT IN FEDEX SHOOTING LAST YEAR: AP

Blood is smeared across former California home of Derek Chauvin expert witness [US fascism, Brown Shirts are on the march] https://t.co/smeXLID9zU

@isabellarileyus: Most Americans would be fine with being ruled by a dictator as long as it’s their preferred dictator.

@robbystarbuck: Hunter Biden got $2,000,000 from his publisher for his new book. His book sold only 11,000 copies despite him having a nationwide media campaign. It honestly feels like a bribe or money laundering. There was never a market for this. They just wanted access & favor with Biden.

@thehill: [Dem] Rep. Hank Johnson: “It’s time that we starting thinking about the Supreme Court like we think about the rest of the federal government, and consider whether and how its current composition allows it to effectively do what we need it to do.” http://hill.cm/2rnS0Rj

The reason that the wise US Founders constructed an independent Supreme Court was so it would be independent.  These Dems are fascists, or they are ignorant of US Constitutional history and the US Constitution itself.  This is more proof that radical Dems want to destroy the Constitution and the US.

PS – Rep. Hank Johnson at a Congressional Hearing once told a US Admiral that he feared that the island of Guam might tip over and capsize because of it being over-populated.  This is an actual US Rep.! https://www.youtube.com/watch?v=cesSRfXqS1Q

@RNCResearch: While Biden tries to take credit for the vaccines, …he REPEATEDLY suggested they were unsafe. No one has done more to hurt vaccine confidence than Joe Biden.

@MartinKulldorff: By falsely claiming that vaccinated people must wear masks and physically distance, Anthony Fauci is undermining trust in vaccines. According to Jay Bhattacharya, Fauci is the #1 anti-vaxxerhttps://twitter.com/MartinKulldorff/status/1383736593547096077?s=02

Ex-DNI & US Amb to Germany @RichardGrenell: Dr Fauci has never missed a paycheck [$448k/year] through Covid 19 – which is why he is completely tone-deaf to the economic health of Americans. In fact, the economic health of millions of people is an epidemic that Dr Fauci sadly ignores.

Florida Governor Ron DeSantis says vaccine messaging should be ‘they work and make you immune, so act immune’  https://t.co/kcyVOSMczw

@jeffreyatucker: Taiwan, 23.5 million people, never locked down. Near zero stringencies, except some border checks. Covid deaths: 11.  https://worldometers.info/coronavirus/country/taiwan/

Unrealistic book deals for politicians and their families have occurred repeatedly since Bill Clinton retired.  The sales are usually poor, despite coordinated bulk buying by doting disciples and dependents.

We understand that argument that the British Monarchy is an anachronism and silly.  However, Prince Philip’s funeral was very moving and sad.  Though the phrase is overused, the funeral marks the end of an important era – the great people that navigated WWII and actually practiced noblesse oblige.

CDC Updated Covid fatality and survival rates: https://twitter.com/RL4524/status/1383794761841008647

US officials destroyed lives, businesses, cities, cultures, families and more for miniscule fatality rates (ex-over 70’s 5.5% rate due to many living in institutional or high-density residences) – to remove DJT. 

Ego = 1/Knowledge More the knowledge, lesser the ego; lesser the knowledge, more the ego.” – Albert Einstein

I WILL SEE YOU TUESDAY NIGHT

 

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