APRIL 23//ANOTHER RAID TODAY: HUGE RUN ON GOLD AND SILVER AT THE COMEX WITH GOLD LOSING 14 TONNES AND SILVER A NET 480,000 OZ//GOLD CLOSES DOWN $3.40 TO $1781.60//SILVER DOWN 10 TENS TO $26.05//STRONG ADVANCE IN GOLD TONNAGE STANDING AT THE COMEX TO 93.6 TONNES//SILVER OZ STANDING REMAINS PAT AT 14.920 MILLION OZ//ANDREW MAGUIRE TAPE: AT THE VAULT EPISODE 36 A MUST VIEW///CORONOVIRUS UPDATES//VACCINE UPDATES//RUSSIA VS UKRAINE UPDATE AS RUSSIAN TROOPS PULL BACK//BIDEN WILLING TO DROP SOME SANCTIONS ON IRAN BEFORE AN AGREEMENT: STUPID!//JAPAN DECLARES 3RD EMERGENCY AS ANOTHER HUGE COVID OUTBREAK!//SWAMP STORIES FOR YOU TONIGHT//

GOLD:$1781.60   DOWN $3.40   The quote is London spot price

Silver:$26.05 DOWN  $0.10   London spot price ( cash market)

your data.

 
 
 

Closing access prices:  London spot

i)Gold : $1776.80 LONDON SPOT  4:30 pm

ii)SILVER:  $26.02//LONDON SPOT  4:30 pm

PLATINUM AND PALLADIUM PRICES BY GOLD-EAGLE (MORE ACCURATE

 

 

PLATINIUM  $1231.48 up $22.87

PALLADIUM: 2855.90 up $12.45  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  0/0

 

 

ISSUED: 0

Goldman Sachs:  stopped: 0

 
 

NUMBER OF NOTICES FILED TODAY FOR  APRIL. CONTRACT: 0 NOTICE(S) FOR nil OZ  (0 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  27,992 NOTICES FOR 2,799,200 OZ  (87.066 tonnes) 

SILVER//APRIL CONTRACT

 

0 NOTICE(S) FILED TODAY FOR nil  OZ/

total number of notices filed so far this month: 2929 for 14,645,000  oz

 

BITCOIN MORNING QUOTE  $50,062   DOWN 2438

BITCOIN AFTERNOON QUOTE.:  $50,840 DOWN 1660 DOLLARS  

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD DOWN $3.40  AND NO PHYSICAL TO BE FOUND ANYWHERE:

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

NO CHANGES IN GOLD INVENTORY AT THE GLD//:  A PAPER  DEPOSIT OF 0.00 TONNES OF PAPER GOLD FROM GLD

WITH RESPECT TO GLD WITHDRAWALS:  (OVER THE PAST FEW MONTHS)

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: 1,021.70 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER DOWN 10 CENTS

A SMALL CHANGE IN SILVER INVENTORY AT THE SLV// A SMALL DEPOSIT OF:0.278 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:

569.847  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 166.39 down $0.65 OR  0.39%

XXXXXXXXXXXXX

SLV closing price NYSE 24.13 down $0.08 OR 0.33%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

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Let us have a look at the data for today

THE COMEX OI IN SILVER  FELL BY A MONSTROUS SIZED 5176 CONTRACTS FROM 178,122 DOWN TO 172,946, AND FURTHER FROM  THE NEW RECORD OF 244,710, SET FEB 25/2020. THE LOSS IN OI OCCURRED WITH OUR STRONG $0.34 LOSS IN SILVER PRICING AT THE COMEX  ON THURSDAY. IT SEEMS THAT THE  LOSS IN COMEX OI IS PRIMARILY DUE TO THE INITIATION OF SPREADER LIQUIDATION  AS WELL AS SOME BANKER AND ALGO  SHORT COVERING !//SOME REDDIT RAPTOR BUYING//.. COUPLED AGAINST A SMALL EXCHANGE FOR PHYSICAL ISSUANCE. WE ALSO  HAD MINOR IF ANY LONG LIQUIDATION AS MOST OF THE LOSS WAS DUE TO OUR SPREADERS.  THE NET TOTAL LOSS ON OUR TWO EXCHANGES:  4474 OR 22.37 MILLION OZ.

 

WE WERE  NOTIFIED  THAT WE HAD A FAIR  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: 702,, AS WE HAD THE FOLLOWING ISSUANCE:   MAY:  671, JULY 25 AND ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE 702 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

14.920 MILLION OZ INITIAL STANDING FOR APRIL

 

THURSDAY, AGAIN OUR CROOKS USED COPIOUS PAPER TRYING TO LIQUIDATE SILVER’S PRICE …AND THEY WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN ,(IT FELL BY $0.34). OUR OFFICIAL SECTOR/BANKERS WERE  SOMEWHAT SUCCESSFUL IN THEIR ATTEMPT TO FLEECE SOME SILVER LONGS AS  WE HAD AN ATMOSPHERIC NET LOSS OF 4474 CONTRACTS ON OUR TWO EXCHANGES, THE LOSS WAS PRIMARILY  DUE TO i) SPREADER LIQUIDATION AS WELL AS ii) SOME BANKER/ALGO SHORT COVERING// WE ALSO HAD  iii) GOOD REDDIT RAPTOR BUYING//.    iii)  A FAIR ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A ZERO INCREASE IN SILVER STANDING FOR COMEX SILVER  REMAINING AT 14.920 MILLION OZ, iv) HUGE COMEX OI LOSS AND iv) ZERO/MINOR 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:

13,907 CONTRACTS (FOR 17 TRADING DAY(S) TOTAL 13,907 CONTRACTS) OR 69.535 MILLION OZ: (AVERAGE PER DAY: 818 CONTRACTS OR 4.09 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF APRIL: 69.535 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:  69.535 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: 69.535 MILLION OZ  (SILVER IS NOW IN SEVERE BACKWARDATION AND THUS DRAMATICALLY FEWER ISSUANCE OF EFP’S)

 

RESULT: WE HAD A GIGANTIC DECLINE IN COMEX OI SILVER COMEX CONTRACTS OF 5176, WITH OUR $0.34 LOSS IN SILVER PRICING AT THE COMEX ///THURSDAY .…THE CME NOTIFIED US THAT WE HAD A FAIR SIZED EFP ISSUANCE OF 702 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE HAD A GIGANTIC SIZED GAIN OF 4474 OI CONTRACTS ON THE TWO EXCHANGES (WITH OUR  $0.34 GAIN IN PRICE)//THE DOMINANT FEATURE TODAY WAS THE INITIATION OF OUR SPREADER LIQUIDATION TO INITIATE THE RAID PLUS SOME 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  702 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s)TOGETHER WITH A GIGANTIC SIZED DECREASE OF 5176 OI COMEX CONTRACTS.AND ALL OF THIS DEMAND HAPPENED WITH OUR $0.34 LOSS IN PRICE OF SILVER/AND A CLOSING PRICE OF $26.15//THURSDAY’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: 0 NOTICE(S) FOR nil, 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 FELL BY A SMALL SIZED 3682 CONTRACTS TO 475,657,AND FURTHER FROM OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE SMALL SIZED DECREASE IN COMEX OI CAME DESPITE OUR STRONG LOSS IN PRICE  OF $11.30///COMEX GOLD TRADING//THURSDAY.AS IN SILVER WE MUST HAVE HAD CONSIDERABLE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE ALSO HAD SOME LONG LIQUIDATION AS WE HAD A SMALL LOSS OF 3026 TOTAL CONTRACTS ON OUR TWO EXCHANGES.  WE ALSO HAD A HUGE GAIN IN GOLD TONNAGE STANDING RISING TO 93.672 TONNES, AS 32 CONTRACTS (OUR ILLUSTRIOUS BANKERS) QUEUE JUMPED AHEAD OF THE LINE LOOKING FOR GOLD METAL.  (3200 OZ OR 0.0995 TONNES)

 

YET ALL OF..THIS HAPPENED WITH OUR LOSS IN PRICE OF $11.30 WITH RESPECT TO THURSDAY’S TRADING

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

WE HAD A  SMALL LOSS  OF 3026 OI CONTRACTS (9.412 TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 656 CONTRACTS:

CONTRACT .  APRIL:  0 AND JUNE:  656  ALL OTHER MONTHS ZERO//TOTAL: 656.  The NEW COMEX OI for the gold complex rests at 475,657. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EXCHANGE DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A SMALL SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3026 CONTRACTS: 3682 CONTRACTS DECREASED AT THE COMEX AND 656 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS OF 3026 CONTRACTS OR 9.412 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (656) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI  (3682 OI): TOTAL LOSS IN THE TWO EXCHANGES:  1983 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 17 OF THE DELIVERY CYCLE TO   93.672 TONNES)  3) ZERO/MINOR LONG LIQUIDATION,  /// ;4) SMALL COMEX OI LOSS AND 5) SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL AND ….ALL OF THIS HAPPENED WITH OUR LOSS IN GOLD PRICE TRADING THURSDAY//$11.30!!.

 

 
 
 
 
 

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 : 37,425, CONTRACTS OR 3,742,500 oz OR 116.41 TONNES (17 TRADING DAY(S) AND THUS AVERAGING: 2201 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 17 TRADING DAY(S) IN  TONNES: 116.41 TONNES

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

THUS EFP TRANSFERS REPRESENTS 116.41/3550 x 100% TONNES =3.26% 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:      116.41 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 GIGANTIC SIZED 5176 CONTRACTS FROM 178,126 DOWN TO 172,946 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 GIGANTIC SIZED LOSS IN OI SILVER COMEX WAS PRIMARILY DUE TO 1) INITIATION OF OUR SPREADER LIQUIDATION FOLLOWED BY; 2) SOME BANKER SHORT COVERING//ALGO SHORT COVERING// GOOD REDDIT// RAPTOR BUYING , 3) A FAIR ISSUANCE OF EXCHANGE FOR PHYSICALS (SEE BELOW), 3) A ZERO INCREASE IN  STANDING FOR SILVER  AT THE COMEX FOR APRIL REMAINING AT 14.920 MILLION OZ//., AND 4) ZERO//MINOR LONG LIQUIDATION.

EFP ISSUANCE 702 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: 671 AND, JULY: 25ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 702 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 5176 CONTRACTS AND ADD TO THE 702 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN AN GIGANTIC SIZED LOSS OF 4,474 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 22.135 MILLION  OZ, OCCURRED WITH OUR $0.34 LOSS 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)FRIDAY MORNING/ THURSDAY NIGHT: 

SHANGHAI CLOSED UP 9.05 PTS OR 0.26%   //Hang Sang CLOSED UP 323.41 PTS OR 1.12%     /The Nikkei closed DOWN 167.54 POINTS OR 0.57%//Australia’s all ordinaires CLOSED UP 0123%

/Chinese yuan (ONSHORE) closed UP AT 6.4910 /Oil UP TO 61.69 dollars per barrel for WTI and 65.39 for Brent. Stocks in Europe OPENED ALL RED //  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4910. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4870   : /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%

HANGHAI CLOSED UP 7.82 PTS OR 0.23%   //Hang Sang CLOSED UP 133.42 PTS OR 0.47%     /The Nikkei closed UP 679.62 POINTS OR 2.38%//Australia’s all ordinaires CLOSED UP 0.73%

/Chinese yuan (ONSHORE) closed UP AT 6.4901 /Oil DOWN TO 60.95 dollars per barrel for WTI and 64.90 for Brent. Stocks in Europe OPENED ALL MIXED //  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4901. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4879   : /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/OUTLINE

END

b) REPORT ON JAPAN

3 C CHINA

CHINA VS USA//

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 FELL BY A SMALL SIZED 3682 CONTRACTS TO 475,657MOVING FURTHER  FROM  THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS SMALL COMEX DECREASE OCCURRED WITH OUR  LOSS OF $11.30 IN GOLD PRICING THURSDAY’S COMEX TRADING…WE ALSO HAD A VERY SMALL EFP ISSUANCE (656 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 SMALL SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 656 EFP CONTRACTS WERE ISSUED:  ;  AND APRIL:  0, JUNE:  656 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 656  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 LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A SMALL SIZED 3026  TOTAL CONTRACTS IN THAT 656 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A SMALL SIZED  COMEX OI  OF  3682 CONTRACTS.WE HAVE A HUGE AMOUNT OF GOLD TONNAGE STANDING FOR APRIL  (93.670 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 SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $11.30)., AND  WERE  SOMEWHAT SUCCESSFUL IN FLEECING SOME LONGS AS WE HAD A SMALL NET LOSS ON OUR TWO EXCHANGES OF 1983 CONTRACTS.  THE TOTAL LOSS ON THE TWO EXCHANGES REGISTERED 9.412 TONNES TONNES, ACCOMPANYING OUR STRONG GOLD TONNAGE STANDING FOR APRIL (93.670 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 LOSS ON THE TWO EXCHANGES :: 3026 CONTRACTS OR  302,600 OZ OR  9.413  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:  475,657 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 47.56 MILLION OZ/32,150 OZ PER TONNE =  1479 TONNES

 

THE COMEX OPEN INTEREST REPRESENTS 1479/2200 OR 67.24% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 
 

Trading Volumes on the COMEX GOLD TODAY:173,775 contracts// volume extremely poor/DREADFUL   //

CONFIRMED COMEX VOL. FOR YESTERDAY:  168,700 contracts//  volume:   extremely poor/ hopeless!/ //most of our traders have left for London

 

APRIL 23 /2021

 
INITIAL STANDINGS FOR APRIL COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
 
 
wow! a biggy
 

450,114.000 oz

 

14,000 kilobars

 

14 tonnes

xxxxxxxxxxxx

Brinks 5,000 

kilobars

160,755.000

Delaware  32,151.00 oz

1000 kilobars

 

HSBC  96,453.000 oz

3,000 kilobars

 

jpmorgan:  5,000 kilobars

160,755.000 oz

 

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory in oz

 

end

 

 

.

 

Deposits to the Customer Inventory, in oz
 
nil OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
0  notice(s)
nil OZ
(0 TONNES
 
No of oz to be served (notices)
2123 contracts
(212,300oz)
 
6.60 TONNES
 
 
 
Total monthly oz gold served (contracts) so far this month
27,992 notices
2,704,500 OZ
87.066 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 4 withdrawals
 
i) Out of Brinks:  160,755.000 oz (5,000 kilobars)
ii) Out of Delaware: 32,151.000 oz ( 1000 kilobars)
iii) Out of HSBC: 96,453.000 oz (3,000 kilobars
iv) Out of JPMorgan: 160,755.000  (5,000 kilobars)
 
 
 
 
 
total withdrawals:  450,114.000 oz  14,000 kilobars or 14 tonnes 
 
 
 
 
 
 

We had  4  kilobar transactions (4 out of 6 transactions)

ADJUSTMENTS  2  dealer to customer account:

i)Brinks:  400.01 oz

customer to dealer:

 

ii)JPMorgan enhanced: 12,175.951 oz 

 
 
 
 

The front month of APRIL registered a total of 2123 CONTRACTS for a LOSS of 915 contracts.  We had 947 notices filed on THURSDAY, so WE GAINED A STRONG 32  contracts or an additional  3200 oz  (0.0995 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.

 
 
 

MAY LOST  A STRONG 59 CONTRACTS TO STAND AT 1452.

WE SHOULD HAVE ABOUT 4.5 TONNES OF GOLD STAND IN MAY 

 

JUNE LOST 2926 CONTRACTS DOWN TO 390,943

We had 0 notice(s) filed today for NIL   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  0  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0 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 (27,992) x 100 oz , to which we add the difference between the open interest for the front month of  (APRIL:  2123 CONTRACTS ) minus the number of notices served upon today 0 x 100 oz per contract) equals 3,015,000 OZ OR 93.670 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 27,992 x 100 oz  + 2123x OI for the front month minus the number of notices served upon today (0} x 100 oz which equals 3,015,000 oz standing OR 93.670 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 32 CONTRACTS OR AN ADDITIONAL 3200 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

300,622.584, oz  JPM  9.35 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:  2,273,939.451 oz                                     70.72 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 483.92 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 93.670 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

total registered or dealer  17,832,257.241 oz or 554.65 tonnes
 
 
total weight of pledged:  2,273,939.451 oz or 70.72 tonnes
 
 
thus:
 
registered gold that can be used to settle upon: 15,558,318.0 (483,92 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes  15,558,318.0 (483.92 tonnes)
 
total eligible gold: 17,162,744.610 oz   (533.81 tonnes)
 
 
total registered, pledged  and eligible (customer) gold 34,995.001.901 oz or 1,088.49 tonnes (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  962.15 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 23/2021

And now for the wild silver comex results

 
 

And now for the wild silver comex results

INITIAL STANDING FOR SILVER/APRIL

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
1,653,867.601 oz
HSBC
Manfra
Brinks
CNT’
Delaware
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil
 
oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
 
1,167,310.487 oz
 
CNT
JPMorgan
 
 
 
 
 
whatever enters the comex faults
leaves
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
0
 
CONTRACT(S)
(nil OZ)
 
No of oz to be served (notices)
550 contracts
 275,000 oz)
Total monthly oz silver served (contracts)  2813 contracts

 

14,645,000 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  2 deposit into customer account (ELIGIBLE ACCOUNT)

i) Into CNT:  604,980.907 oz
ii)Into JPMorgan; 562,329.580 oz

 

 

 
 
 
 
 

JPMorgan now has 188.52 million oz of  total silver inventory or 51.87% of all official comex silver. (188.52 million/363.410 million

total customer deposits today:1,167,310.487   oz

we had 5 withdrawals

i) Out of HSBC 400,093.900 oz
ii) Out of Manfra: 19,997.400 oz
iii) Out of Brinks; 1,200,839.531 oz
iv) Out of CNT: 28,089.970 oz
v) Out of Delaware: 4846.800
 
 
 
 

total withdrawals 1,653,867.601   oz

We had 2 adjustments:    dealer to customer

 

i) JPMorgan:  59,374.500 ox

 

ii)customer to dealer:

HSBC 163,763.700 oz

 
 
 

Total dealer(registered) silver: 119.697 million oz

total registered and eligible silver:  363.410 million oz

a net 0.480 million oz leaves the comex silver vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The month of April saw 55 contracts standing for delivery for a LOSS of 116 contracts.  We had 116 contracts served upon yesterday, so we GAINED 0 contracts or AN ADDITIONAL NIL oz will stand for delivery over here as they refused to morph into London based forwards.
 
 
 
 
 
 

May finally fell in  contracts, losing 12,332 contracts to stand at  63,207 contracts with a majority of the loss due to initiation of our spreader liquidation. 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 14.915 million oz stand and May with open interest refusing to buckle. 

No of notices filed today:  0

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, WEDNESDAY APRIL 22/2020) we had 35,527 oi contracts still outstanding on the May 2020 CONTRACT.  This year:  63,207  still outstanding!!.

LAST YEAR 2666 CONTRACTS ROLLED ON APRIL 22 ; TODAY 12,332  BAILED / SPREADER LIQUIDATION

 

WE HAVE 5 MORE READING DAYS BEFORE FIRST DAY NOTICE!(LAST YR READING DAYS)

LAST YEAR WE HAD FINAL MAY SILVER OZ STANDING:  45.220 MILLION OZ/(5TH HIGHEST STANDING FOR SILVER EVER RECORDED) LAST YEAR THE SPREADERS DID NOT LIQUIDATION UNTIL THE FINAL FEW DAYS. THE SIGNAL WAS GIVEN THIS YEAR TO BEGIN A TOUCH EARLY TRYING TO STEM THE DEMAND FOR SILVER.

June GAINED 125 contracts up to 1226.

July gained  6911 contracts up to 87,145 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  2929 x 5,000 oz = 14,645,000 oz to which we add the difference between the open interest for the front month of APRIL (55) 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: 2929 (notices served so far) x 5000 oz + OI for front month of APRIL (55)  – number of notices served upon today (0) x 5000 oz of silver standing for the Jan contract month .equals 14,920,000 oz. ..VERY STRONG FOR A NON ACTIVE APRIL MONTH. 

WE GAINED 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 80,176 CONTRACTS // volume: strong volume today// 

 

FOR YESTERDAY 108,119  ,CONFIRMED VOLUME/ strong

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; 23/2021)

2. Sprott gold fund (PHYS): premium to NAV RISES TO –1.66% to NAV:   (APRIL 23/2021 )

Note: /Sprott physical gold trust is back into NEGATIVE/0.29%(APRIL23/2021)

(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 23/WITH GOLD UP $3.40 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1021.70 TONNES

APRIL 22/WITH GOLD DOWN $11.30 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1021.70 TONNES

APRIL 21/WITH GOLD UP $14.40 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESSTS AT 1021.70 TONNES

APRIL 20/WITH GOLD UP $8.25 TODAY:A HUGE CHANGE IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 2.04 PAPER TONNES INTO THE GLD///INVENTORY RESTS AT 1021.70 TONNES

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 23 / GLD INVENTORY 1021.70 tonnes

LAST;  1045 TRADING DAYS:   +87.74 TONNES HAVE BEEN ADDED THE GLD

LAST 945 TRADING DAYS// +  272.26TONNES  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 23/WITH SILVER DOWN 10 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV/: A DEPOSIT OF 278,000 OZ INTO THE SLV.///INVENTORY RESTS AT 569.569 MLLION OZ/

APRIL 22/WITH SILVER DOWN 34 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A MASSIVE WITHDRAWLA OF 3.619 MILLION OZ//INVENTORY REST AT 569.569 MILLION OZ..

APRIL 21/WITH SILVER UP 72 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 573.188 MILLION OZ//

APRIL 20/WITH SILVER UP 1 CENT TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIST OF 1.114MILLION OZ INTO THE SLV////INENTORY RESTS AT 573.188 MILLION OZ.

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 FROM 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 23/2021
569.847 MILLION OZ

 
 

PHYSICAL GOLD/SILVER STORIES
i)Lawrie williams:

LAWRIE WILLIAMS: Gold retreats – but no change there.

After surging to close to $1,800 an ounce earlier in the week, the gold price was knocked back on both European and North American markets to the $1,770s and 80s again. However, gold investors should probably be used to such market behaviour. In the past, whenever gold seemed to approach a key psychological price level, profit takers climbed in – or some would say the market manipulators did so – and the gold price consolidated at a slightly lower level before making another run. Oftentimes it has to take several runs to break through, but when it does so it tends to slice through the psychological barrier as though it never existed in the first place.

We had predicted that gold would build a base, and consolidate in the $1,770s, so the rapid move up to just short of $1,800 did take us slightly by surprise, but if gold is indeed building a base in the $1,770s, or even perhaps in the $1,780s, before moving on, that should be seen as a positive for the yellow metal. Data seems to be advancing in gold’s favour with the continuation for now of ultra-low interest rates, despite the threat of rising inflation, together with so far anecdotal evidence of a big pick-up in gold demand in the world’s two largest consuming nations – China and India. These figures still need to be confirmed when official data is released, though.

The U.S. Fed continues to set the global price pattern and as long as this remains the case we can perhaps ignore the impact for now of some of the other global data. However, by almost all accounts, demand for gold and silver at small investor level in North America , and globally, remains elevated with premiums soaring on coins and small bars as a result. As we have pointed out in previous posts, the exodus of gold from the big gold-based ETFs seems to be faltering too. In combination, this could overwhelm the Fed’s apparent policy, which seems to be keeping gold’s upwards path well in check. If this should happen, which does seem to be on the cards, we will see the next price breakout and we’ll be in a whole new ballgame!

Thus we anticipate a breakout above $1,800 for gold perhaps sooner rather than later. The metal will no doubt encounter other ‘sticking points’ as the price progresses but we now seem like we could be back on track to $2,000 gold again this year should these predictions come about. There’s plenty of time left for this to happen.

As to the other precious metals. Silver, despite its primary usage being industrial, still seems to ride on gold’s coattails. The Gold:Silver ratio (GSR) has risen a little over the past few weeks but if the metal price follows past patterns it may come back down a small amount indicating additional leverage, but silver bullion price premiums seem to be particularly high at the moment, particularly on silver coins and small bars, which can certainly cancel out any price advantage that may be occurring. So saying, gold premiums on coins, wafers and small bars are also riding high, although not nearly as high as for silver.

Platinum group metals – pgms – platinum and palladium should, in reality be categorised in a different market sector. They are both nowadays almost wholly industrial metals primarily dependent, particularly in the case of palladium, on the strength, or otherwise, of the auto sales market. Both metals appear to be in a supply deficit for the moment which will have a continuing positive effect on their price patterns, but they would also appear to be most dependent on global economic recovery, and the auto manufacturing industry in particular. Long term, palladium looks to be particularly vulnerable to the inexorable growth in the take up of electric-powered light vehicles but may still have a few years of strong demand ahead.

23 Apr 2021

end

 

EGON VON GREYERZ// 

 

OR

Peter Schiff..

 
or
PAM AND RUSS MARTENS

Wall Street On Parade

-END-

ii) Important gold commentaries courtesy of GATA/Chris Powell

Your weekend reading material courtesy of Alasdair Macleod:

why interest rate management ultimately fails

(Alasdair Macleod)

Alasdair Macleod: Why interest rate management fails

 

 

 Section: Daily Dispatches

 

By Alasdair Macleod
GoldMoney, St. Helier, Jersey, Channel Islands
Thursday, April 22, 2021

This article explains why attempting to achieve economic outcomes by managing interest rates fails. The basis of monetary interventionist theories ignores the discoveries of earlier free-market thinkers, particularly Say, Turgot, and Böhm-Bawerk.

It also ignores Gibson’s Paradox, which demolishes the theory that managing interest rates controls price inflation. And incredibly, the whole basis of banking regulation assumes that commercial banks are just intermediaries between depositors and borrowers. That model of banking fails to address the simple fact that banks create credit out of thin air and that deposits are the property of the banks, and not their customer.

end

Technical expert James Turk shows us that the fundamentals for gold and silver are strong

(James Turk Kingworldnews)

James Turk at King World News: Technicals align with fundamentals for gold and silver

 

 

 Section: Daily Dispatches

 

By James Turk
for King World News
Wednesday, April 21, 2021

Things are falling into place nicely for the precious metals. 

The fundamental picture has been positive for some time, and all the central bank money printing is having an impact. Inflation is worsening, and we are seeing price rises in pretty much everything across the board. 

Oil and gasoline prices, in particular, are hitting consumer pocket books. But food prices are also rising…

Importantly, now the technical picture for the precious metals is improving. …

… For the remainder of the analysis:

https://kingworldnews.com/everything-falling-into-place-for-gold-silver-.

end

iii) Other physical stories:

this is a biggy! Andrew discusses the new LME and how China and India have been rapidly buying gold

ready for the new reset:

 

end

 

Bitcoin crashes below 50,000 dollars 

(zerohedge)

Bitcoin Crashes Below $50,000 To Critical Support

 
FRIDAY, APR 23, 2021 – 07:45 AM

After coming within inches of $65,000 last week, Bitcoin has suffered two significant ‘liquidation’ events and broke back below $50,000 overnight for the first time since March 8th…

Source: Bloomberg

Various factors were being pitched as the impetus for the latest round of price losses, these including CME futures now trading below spot price as bearishness enters, as well as a negative Coinbase premium.

Bitcoin is down around 27% from its highs as traders were unsure if Biden’s newly-leaked capital gains tax increases were a trigger for selling, or a positive for the crypto-lending business and implicitly supportive of bitcoin.

“There is a lot of new capital that has entered the market, some investors are still on edge and unverified negative news can cause a lot of short-term damage. That is what we are seeing,” Charles Storry, head of growth at DeFi index provider Phuture, told Decrypt

However, the plunge in price has merely  recentered Bitcoin’s price to its stock-to-flow model (in a similar manner to what occurred in January).

Source

As CoinTelegraph notes, this means bitcoin is no longer “front-running” stock-to-flow, which is traditionally a highly accurate price forecasting tool. 

“I am sort of relieved btc price is now under s2f model value again,” he wrote in a conversation with “The Bitcoin Standard” author Saifedean Ammous, who called its predictions “astonishing.”

“For a moment I thought that people were front running the model and that the supercycle had started. Now we are back to normal .. like clockwork.”

The longer-term trend remains in place…

Source

Ethereum also took a pounding, tumbling from fresh record highs above $2600 to $2100 overnight before dip-buyers stepped back in this morning…

Source: Bloomberg

ETH continues to hold above February’s relative BTC highs, at its strongest relative to bitcoin since Aug 2018…

Source: Bloomberg

Of course, as CoinTelegraph reports, notorious gold bug and crypto-skeptic, Peter Schiiff, was also quick to comment on the market action, poking fun at Bitcoin proponent Anthony Pompliano.

Pompliano responded“Bitcoin is up 600% in last year. Gold is up 3% in last year. No more tweeting until gold can beat inflation, Peter!” 

Twitter-user “Fintwit” also replied to Schiff, noting that “gold is up 0% since 2011.”

The battle continues.

END

 Turkish crypto exchange boss goes missing, reportedly taking $2 billion of investors’ funds with him

https://www.cnbc.com/2021/04/23/bitcoin- btc-ceo-of-turkish-cryptocurrency-exchange-thodex- missing.html

Thodex, a crypto platform based in Turkey, said its platform has been “temporarily closed” to address an “abnormal fluctuation in the company accounts.”

Local media reports say that Faruk Fatih Ozer, Thodex’s founder, has flown to Albania, taking $2 billion of investors’ funds with him.

According to the state-run Anadolu Agency, Turkish authorities have now issued an international warrant seeking Ozer’s arrest.

Thousands of Thodex users have filed complaints against the company, with investors saying they are unable to access their accounts and worry that their savings may be irretrievable. Some Turkish citizens have turned to crypto as a way to protect their savings from skyrocketing inflation and the weakening of the Turkish lira.

According to Bloomberg, Thodex last month offered new registrants millions of free dogecoins. The exchange reportedly said 4 million of the meme-inspired crypto tokens had been distributed but many users say they haven’t received them.

Thodex was not immediately available for comment when contacted by CNBC via Twitter.

Crypto crackdown ahead?

Living in Denial

https://www.youtube.com/watch? v=W3GsHtZu0B

Your early FRIDAY 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 6.4910 /

//OFFSHORE YUAN:  6.4870   /shanghai bourse CLOSED UP 9.05 pts or 0.26%

HANG SANG CLOSED UP 323.41 PTS OR 1.12% 

2. Nikkei closed DOWN 167.54 POINTS OR  0,57%

3. Europe stocks  ALL RED /

USA dollar index  DOWN TO 90.94/Euro RISES TO 1.2065

3b Japan 10 year bond yield: FALLS TO. +.069/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 107.72/ 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:: 61.69 and Brent: 65.39

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 UP for WTI and UP FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO -.27%/Italian 10 Yr bond yield UP to 0.78% /SPAIN 10 YR BOND YIELD DOWN TO 0.38%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.03: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 0.89

3k Gold at $1794.20 silver at: 26.34   7 am est)5SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 53/100 in roubles/dollar) 74.86

3m oil into the 61 dollar handle for WTI and 64 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 107.72 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 .9148 as the Swiss Franc is still rising against most currencies. Euro vs SF is 1.1037 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 FALLING to 0.27%

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 1.547% early this morning. Thirty year rate at 2.224%

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

6.  TURKISH LIRA:  DOWN  TO 8.34.. DEADLY

Futures Rebound From Cap Gains Tax Selloff

 
FRIDAY, APR 23, 2021 – 08:03 AM

US equity futures rebounded Friday following Thursday’s 1% selloff as investors digested a proposal for higher capital gains taxes and realized that i) it is nothing new compared to previous media reports and ii) the most likely outcome is a compromise tax rate (Goldman expects a final number no higher than 28%).  Still, both the S&P 500 and Dow are on course for weekly declines, after four straight weeks of gains. At 730 a.m. ET, Dow e-minis were up 38 points, or 0.11%, S&P 500 e-minis were up 9 points, or 0.22%, and Nasdaq 100 e-minis were up 18.5 points, or 0.14%.

Some key premarket moves:

  • Cryptocurrency and blockchain-related stocks including Riot Blockchain and Marathon Digital dropped 6.6% and 7.1% after bitcoin tumbled overnight below $50,000 on fears plans to raise capital gains taxes would curb investment in digital assets. Bitcoin was last trading just above $50K.
  • Intel shares fall 2.7% in U.S. premarket trading. The chipmaker’s 1Q update shows a drop in data-center revenue that offset strong PC chip sales. Analysts are divided on the results with some seeing the data-center slump as a blip, but others less convinced it is so.
  • Oil companies, mainly Chevron Corp, Marathon Petroleum, Exxon Mobil Corp and Occidental Petroleum, gained between 0.2% and 1.1% as oil prices rose.

On Thursday, Bloomberg sparked a selloff after it reported that Biden’s administration is seeking an increase in the capital gains tax to near 40% for wealthy individuals, almost double the current rate.

“The devil is always going to be in the detail,” said Ned Rumpeltin, European head of currency strategy at TD Securities, adding that the Democrats’ narrow majority could make the proposals hard to pass. Goldman agreed, and said that the compromise rate would be 28% and that the proposal would most likely be effected on Jan 1, 2022.

“We don’t think it derails the equity market recovery,” said Nupur Gupta, portfolio manager at Eastspring Investments, said of the tax proposal on Bloomberg TV. “Equity sentiment does appear to be stretched, which is why any negative news that you get can lead to a consolidation in markets in the short term.”

The pan-European STOXX 600 dropped 0.4% amid a mixed batch of earnings. and was on course for a 1% weekly drop, with a surge in global coronavirus cases also weighing. Carnival shares dropped as much as 4.4% in London after Morgan Stanley flagged caution on cruise lines. Swedish telecom Telia Co. also declined despite first-quarter results in line with forecasts.

The euro zone economy will grow more slowly this year than earlier thought and a temporary gain in inflation is likely to exceed a previous projection, a European Central Bank survey showed on Friday, a day after the bank left policy unchanged. However, IHS Markit’s flash Composite Purchasing Managers’ Index for the euro zone, seen as a good guide to economic health, rose to a nine-month high of 53.7 in April, confounding expectations in a Reuters poll for a dip to 52.8. Anything above 50 indicates growth. The US PMI data is due out at 945am ET.

“The euro zone has enjoyed a record manufacturing boom this month as the continent sees its early stages of the recovery efforts reaping rewards,” said Sun Global Investments CEO Mihir Kapadia in a client note. “We could expect some hiccups along the way, but sentiment should remain higher for some time.”

Here are some of the biggest European movers today:

  • FirstGroup shares rise as much as 19%, the most in five months, after the U.K. transport firm sells its North American student and transit units for $4.6 billion and says it expects FY21 earnings to exceed previous expectations.
  • Tod’s gains as much as 16% after LVMH boosts its stake in the Italian shoemaker to 10%, a move that’s likely to reignite takeover speculation on the stock, according to Jefferies.
  • SEB climbs as much as 8% to their highest in more than three years after the French home- appliances maker reported 1Q sales that beat consensus expectations, prompting a Societe Generale upgrade.
  • Wartsila rises as much as 7.8%, extending a surge after Thursday’s first- quarter report showed orders beating estimates.
  • Dometic advances as much as 6.5% after 1Q organic revenue growth of 22% was slighter better than expected, the main surprise being the company’s record margin, according to Jefferies.
  • Moncler falls as much as 7.1%, the most since March 2020, after 1Q results. RBC highlights that revenue recovery at the Italian maker of puffer jackets is good, but says the company is “not firing on all cylinders” compared to several peers that exceeded expectations.
  • Carnival Plc drops as much as 4.4% in London, the worst performer in Europe’s Stoxx 600 Travel & Leisure Index, after Morgan Stanley stays cautious on cruise lines despite improving newsflow.

Asian stocks were set for their worst weekly loss in a month as the region’s virus cases surged and a U.S. tax proposal hurt sentiment. Thai shares were the biggest decliners in Asia on Friday, with the SET Index down 0.9% as the country became the latest to report an unprecedented daily surge in Covid cases. Elsewhere, the Topix index closed 0.4% lower as Japan is set to declare a state of emergency in Tokyo, Osaka and two other prefectures from Sunday. Japan’s weakness was offset by Chinese stocks, which notched the biggest weekly gain since they peaked at a 13-year high in mid-February. The benchmark CSI 300 index closed 0.9% higher on Friday, taking this week’s rally to 3.4%. Gains were driven by shares of companies that reported big jumps in first-quarter earnings. The MSCI Asia Pacific Index erased losses of as much as 0.5% on Friday to climb 0.3%. Information technology shares gained, while materials slumped. The regional gauge is on pace to fall 0.3% this week. Stephen Innes, chief global market strategist with Axicorp Financial Services wrote in a note that the biggest problem from the much talked-about U.S. tax proposal “might be a near-term liquidity drain as active traders and hedge funds pull back on a high-frequency activity to reevaluate strategy.”

India’s Sensex, the benchmark equity index, completed a third consecutive week of decline as a deadly wave of coronavirus infections raised concerns over business recovery amid lockdown-like curbs. The S&P BSE Sensex fell 0.4% to 47,878.45 in Mumbai, taking its weekly drop to 2%. The NSE Nifty 50 Index also declined by a similar magnitude. Both measures capped their longest run of weekly losses since May 22. “Domestic equities do not look to be inspiring at the moment,” said Binod Modi, head of strategy at Reliance Securities Ltd. “The sharp rise in Covid-19 cases across the country and enhanced mobility restrictions imposed by a number of states are expected to remain as key overhangs for the market.” The Sensex has retreated more than 8% from its recent peak on Feb. 15, nearing the 10% loss threshold viewed as a technical correction. India added a record 332,730 cases in the last 24 hours, taking the total number of cases to 16.26 million, the second-highest in the world. Fourteen of the 19 sector sub-indexes compiled by BSE Ltd. fell, led by a gauge of telecom companies

In rates, the 10Y TSY yield was steady at 1.55% about 1.3bp higher on the day, while long-end underperformance steepens 5s30s spread by ~1bp. Germany’s 10-year government bond yield, the benchmark of the euro area, was also flat. Treasury yields were cheaper by nearly 2bp at long-end of the curve after paring Asia-session declines. Bunds outperform by 2.5bp, gilts by 2bp; in U.K., bond sale plans were cut by more than expected after the budget deficit undershot official forecasts. Weakness in regional bonds during Asia session put additional upside pressure on yields as U.S. stock futures recovered some of Thursday’s losses. Treasury 5- and 10-year yields are headed for third straight weekly decline, 30-year for fifth straight, having benefited over past month from an array of technical factors.

In FX, the Bloomberg Dollar Spot Index fell again as its G-10 peers rallied led by risk-sensitive currencies. The yen was little changed after climbing to its highest level in seven weeks in the Asia session amid haven demand as Japan is set to declare a new state of emergency in some areas amid a surge in virus cases. The euro advanced from the beginning of the European session and got an extra boost after preliminary French manufacturing and services PMIs came in higher than expected, signaling a faster economic recovery; German bonds reacted to the data by giving up early gains, before rebounding. The pound rose, breaking a three-day losing streak, after better-than-expected retail sales for March and high- frequency data showed a continued uptick in spending; gilts briefly erased early gains posted on the DMO reducing this year’s debt sales.

China’s yuan posted its biggest weekly gain since January against the dollar. The Chinese currency also jumped the most in seven weeks against a basket of its trading partners. USD/CNY little changed at 6.4919; poised to fall 0.5% this week, most since Jan. 31. The Bloomberg CFETS RMB Index Tracker steady at 96.78, up 0.4% this week, most since March 5. “We expect CFETS strengthening to resume,” Citigroup strategists including Dirk Willer write in a note, adding that “we keep a bullish bias on CNY.”

In commodities, oil prices were steady, with support from the European economic recovery countered by persisting coronavirus concerns as infections surged to record levels in India. US crude edged up 0.1% to $61.50 a barrel and global benchmark Brent crude was flat at $65.35 per barrel. Spot gold was little changed at $1,785 per ounce but was still set for a weekly rise on soft Treasury yields and a subdued dollar

Bitcoin briefly dropped as low as $48,000, its lowest level in nearly seven weeks, before recovering some ground to trade back over $50,000. Ethereum was trading at $2,300 after dropping as low as $2,100.

With the first-quarter corporate earnings season under way, focus will be on results from Honeywell International Inc, Schlumberger N.V. and American Express Co. IHS Markit’s flash reading at 9:45 a.m ET is likely to show business activity in the manufacturing and services sectors improved in April from the prior month.

Market Snapshot

  • S&P 500 futures up 0.2% to 4,136.25
  • STOXX Europe 600 down 0.33% to 438.19
  • MXAP up 0.3% to 208.01
  • MXAPJ up 0.7% to 697.44
  • Nikkei down 0.6% to 29,020.63
  • Topix down 0.4% to 1,914.98
  • Hang Seng Index up 1.1% to 29,078.75
  • Shanghai Composite up 0.3% to 3,474.17
  • Sensex down 0.1% to 48,018.05
  • Australia S&P/ASX 200 little changed at 7,060.71
  • Kospi up 0.3% to 3,186.10
  • Brent Futures up 0.09% to $65.46/bbl
  • Gold spot up 0.11% to $1,785.98
  • U.S. Dollar Index down 0.33% to 91.033
  • German 10Y yield fell 1.7 bps to -0.269%
  • Euro up 0.33% to $1.2055

Top Overnight News from Bloomberg

  • The euro area’s economic recovery got fully underway in April with services returning to growth and manufacturing expanding at a record pace. Price pressures mounted as companies faced unprecedented delivery delays
  • Russia said it began pulling thousands of troops back from areas near the Ukrainian border Friday, in a move that could ease tensions that have spiked in recent weeks
  • Bitcoin declined for the seventh time in eight days, falling below $50,000, after President Joe Biden was said to propose almost doubling the capital-gains tax for the wealthy

A quick look at global markets courtesy of Newsquawk

Asia-Pac stocks head into the weekend mixed after the region partially shrugged off the early headwinds from the US where sentiment was spooked by reports that President Biden plans to hike capital gains tax to as much as 43.4% from the current top rate of 23.8%, which pressured the major indices and dragged all sectors in the red. Asian bourses suffered from early spillover selling although losses in the ASX 200 (+0.1%) were stemmed as telecoms remained afloat following the outcome of the 5G spectrum auction in which the top 3 telcos spent over AUD 600mln and with the largest-weighted financials sector cushioned by gains in AMP on plans for a demerger and listing of AMP Capital’s private markets investment management business. Nikkei 225 (-0.6%) underperformed due to recent currency inflows and as participants brace for a return to a state of emergency with the government seeking an emergency declaration for Tokyo, Osaka, Kyoto and Hyogo between April 25th-May 11th and wants to significantly reduce the flow of people with stricter measures such as asking certain businesses to close including establishments that serve alcohol. Hang Seng (+1.1%) and Shanghai Comp. (+0.3%) were positive amid strength in Chinese tech names and with focus shifting to earnings whereby Ping An Insurance benefitted from profit growth for Q1, while CNOOC was less decisive despite a 4.7% Y/Y increase in its Q1 total net production. Finally, 10yr JGBs mirrored the choppy price action in T-note futures despite the underperformance of Japanese stocks and with demand also hampered by the lack of BoJ purchases in the market today, while the Australian 2024 bond auction had little effect on the 3yr yield which was relatively flat although both Aussie and Kiwi 10yr yields edged higher by around 3bps.

Top Asian News

  • Xiaomi Said to Mull Investing in AI Chipmaker Black Sesame
  • Carlyle Is Said to Weigh Stake Sale in Satellite Firm AsiaSat
  • Bridgestone Nearing U.S. Deal, Narrows List to a Few Candidates
  • Bain Sets Up First Japan Fund With $1 Billion Commitments

A lacklustre Friday session thus far for European majors (Euro Stoxx 50 -0.3%) with downbeat vibes seeping from Wall Street’s tax-induced losses, and after an indecisive APAC Friday as fresh catalysts remain light. US equity futures meanwhile consolidate with modest gains, although the cyclically-driven RTY (+0.7%) outperforms. Back to Europe, broad-based losses are seen across the bourses with no particular standout performer. Sectors are mostly in negative territory with Basic Resources topping the charts as base metals continue to rise, whilst Real Estate and Oil & Gas reside as the laggards, albeit the breath remains relatively narrow. Overall the sectors do not portray a theme nor a risk bias. Autos are buoyed as Daimler (+1%) underpins the sector following its earnings, in which it noted that unit sales, revenue, and EBIT expected to be significantly higher in 2021 than in the previous year while it raised its FY21 margin targets due to the firm Q1 performance. That being said, the group expects some potential further impact on Q2 production from the global chip shortage. In terms of individual movers, Tod’s (+11%) is bolstered amid reports LVMH (-0.1%) upped its stake in the Co. to 10%. Meanwhile, earnings-related movers include: Vinci (+1%), Vivendi (+3%), Moncler (-6.5%) and Saab (+8%).

Top European News

  • Daimler Raises Margin Outlook for Mercedes-Benz Division
  • A $120 Billion Danish Pension Manager Loses Faith in Bonds
  • Allfunds Surges After $2.3 Billion IPO Boosts Amsterdam’s Clout
  • Euro-Area Recovery Kicks In as Services Return to Growth

In FX, the Aussie may have received a boost from stronger preliminary PMIs overnight, but its firm rebound vs the Greenback seems more technical following yet another successful defence of 0.7700 or thereabouts. However, 0.7750 is proving tough to reclaim as Aud/Usd remains hampered by the ongoing rift with China over tariffs that has prompted Australia to cancel its Silk Road accord, while news of a 3-day lockdown in Perth may also offset some positivity surrounding constructive trade talks with the UK. However, the Aud/Nzd cross has bounced from around 1.0750 again as the Kiwi lags below 0.7200 against its US rival irrespective of a rebound in NZ credit card spending. Elsewhere, better than expected flash Eurozone PMIs, and especially from France appear to be keeping the Euro aloft after its sharp pull back in wake of a broadly uneventful ECB policy meeting to retest bids/support around 1.2000. Note also, Eur/Usd may be underpinned by decent option expiry interest just below the round number between 1.1990-80 (1.5 bn) as it holds just above 1.2050, while the Loonie should also be bolstered by expiries at the 1.2500 strike (1 bn) as it maintains post-BoC momentum, albeit after several wobbles and setbacks. Nevertheless, resistance looms at the new Usd/Cad 2021 low circa 1.2459 and then 1.2450 may be protected by 1.7 bn expiries extending to 1.2440. Meanwhile, Sterling continues to straddle 1.3850 vs the Buck following the loss of another big figure on Thursday and regardless of bumper UK retail sales data or better than anticipated preliminary PMIs, as Cable lags amidst renewed upside in Eur/Gbp towards 0.8700 on ongoing Oxford/Astra vaccine issues in part.

  • DXY/CHF/JPY – In keeping with several G10 counterparts, the Dollar may be drawing some comfort from the fact that dip buying has stemmed further depreciation, and in index terms the 91.000 level is becoming something of a line in the sand, although the Greenback remains under pressure and in bearish mode with the DXY easing into a lower 91.294-003 range ahead of Markit’s US PMIs and new home sales. Hence, fellow ‘safe-havens’ such as the Franc and Yen are taking advantage against the backdrop of consolidation in US Treasury and other global bond yields, as Usd/Chf and Usd/Jpy trade near the base of tight 0.9171-51 and 108.00-107.80 bands respectively. For the record, little reaction to in line Japanese CPI or broadly firmer PMIs as Tokyo and 3 other cities head back into emergency COVID-19 status.
  • EM – Risk sentiment has been rattled to an extent by US President Biden’s proposal to double the CGT rate, but most EM currencies are benefiting from ongoing Usd weakness, bar the Try for specific negative Turkish factors, but the Rub is also clawing back more of its heavy losses on perceptions that tensions between Russia and Ukraine are dissipating ahead of the upcoming CBR policy meeting which saw a larger than expected hike to 5.00% and further RUB upside.

In commodities, WTI and Brent front month futures are yet again undergoing choppy trade with some recent pressure experienced in lockstep with a dip across stocks. As mentioned throughout the week, the supply/demand dynamics remain ever-so-fluid as OPEC+ gears up for its technical meeting next week. At this point, it is still unclear whether members will convene for a decision meeting ministerial meeting following the technical JMMC confab. The latest sources via EnergyIntel suggested both will go ahead on the 28th of April, although other reports put more emphasis on the “monitoring” aspect whilst playing down the likelihood of a tweak to the last set quotas through to July. For any changes to occur, the ministerial meeting will have to go ahead. Meanwhile, The latest move by Russia to withdraw troops following military drills, perceived as a de-escalation, alongside seemingly construction JCPOA discussion, have unwound some geopolitical premia baked into prices in recent days. WTI is now flat on the day around USD 61.50/bbl (vs high USD 62.10/bbl), while its Brent counterpart dipped below USD 65.60/bbl (vs high 65.96/bbl). Elsewhere, spot gold and silver are relatively uneventful around recent ranges above USD 1,775/oz and USD 26/oz respectively. In terms of base metals, LME copper eclipsed 9,500/t as it’s on track for its third straight week of gains amid a softer Buck and firm demand prospects. Dalian iron ore prices meanwhile were bolstered by a rise in steel prices with some citing strengthening global demand for the alloy.

US Event Calendar

  • 9:45am: April Markit US Services PMI, est. 61.5, prior 60.4; Manufacturing PMI, est. 61.0, prior 59.1; Composite PMI, prior 59.7
  • 10am: March New Home Sales MoM, est. 14.2%, prior -18.2%; New Home Sales, est. 885,000, prior 775,000

DB’s Jim Reid concludes the overnight wrap

I kissed my wife goodnight at 930pm last night and left her happy and well watching Masterchef. 4 hours later and I get woken up by chattering teeth and a weary demand that I need to keep her warm as she is feeling awful and has the shivers running through all her body. Yes she had her first covid jab yesterday. This was very predictable as she’s like this every year from the flu jab. All I could think of was that I’d have to look after the kids all alone this weekend. That started to break me out in a cold sweat.

So the virus still plays a big part in all our lives and markets and it was a pretty mixed session yesterday, with multiple asset classes fluctuating between gains and losses as they weighed up a variety of competing risks on the horizon. On the one hand, the rise in global Covid cases continued to accelerate, reaching its fastest pace of the pandemic so far and raising concerns about potential new restrictions on mobility.Yet a pullback in Russian troops from the Ukrainian border helped to reduce some of the geopolitical risk premium of late, while decent US labour market data bolstered sentiment around the economic recovery. However bearish sentiment got the last word yesterday as just after trading closed in Europe, reports circulated of the Biden administration proposing to nearly double the capital gains tax on the wealthiest individuals.

The new marginal tax rate would rise to 39.6% on investments, compared to the current base rate of 20%, while the current 3.8% surtax on investment income that helps fund Obamacare would also be kept in place. This would see taxes on investment returns become higher than those on labour, which has been a long standing provision of the tax code. White House Press Secretary Psaki noted that nothing is for certain just yet and that the administration is “still finalizing what the pay-fors look like” as the White House looks for ways to fund its spending initiatives. The S&P 500 fell -1.3% from its intraday highs before settling down -0.92% on the day, which leaves it just over 1% off its all-time closing high last week. The NASDAQ was down a slightly greater -0.94% yesterday, while the small cap Russell 2000 index outperformed slightly (-0.31%) but after a -1.8% intraday pullback on the tax headline. The losses were widespread with 70% of S&P 500 members lower and 21 of 24 industry groups losing ground. The turn in sentiment was seen in yields as well, with 10yr US Treasuries higher on day as yields fell -1.7bps to 1.538% after been as high as 1.5856% before the news.

Looking ahead, today’s main highlight will be the flash PMIs from around the world, which will give us an initial indication of how the global economy has fared moving into Q2. Overnight, we’ve already had the results from Australia and Japan, which showed improvements in manufacturing PMIs with Japan at 53.3 (vs. 52.7 last month) and Australia at 59.6 (vs. 56.8 expected). Japan’s services reading was flat at 48.3 compared to last month while Australia’s printed at 58.6 (vs. 55.5 last month). For the European figures out this morning, our economists are expecting a modest reversal after the strong March improvement, as many countries face increased restrictions in response to the latest wave of the virus.

Asia markets are trading mixed this morning with the Hang Seng (+0.90%) up, the Shanghai Comp (+0.05%) and Kospi (+0.03%) broadly flat and the Nikkei (-0.75%) down. Futures on the S&P 500 are back up +0.21% but European ones pointing to a weaker open as markets here try to catch up with the late move in US equities. Yields on 10y USTs are back up +1.9bps though. Elsewhere, Bitcoin is down -3.07% this morning to trade at $49,968, marking the 7th loss in the last 8 days. The crypto currency came under fresh pressure on the Biden tax headlines. In terms of data, Japan’s March CPI printed in line with expectations at -0.2% yoy while core CPI came in at -0.1% yoy (vs. -0.2% yoy expected).

Back to yesterday and the major focal point was the latest ECB meeting, but in reality there isn’t a massive amount to discuss as policy was left unchanged as expected. Instead, the meeting served as more of a placeholder ahead of the June decision, when the Governing Council will decide whether to maintain the new faster pace of PEPP purchases. President Lagarde didn’t provide any clues on that decision either, saying that the pace of purchases would be data-dependent, rather than time-dependent, and that it was “premature” to discuss a reduction in purchases. In terms of the other headlines, Lagarde said that the ECB wouldn’t move policy in tandem with the Fed, though that wasn’t exactly a great surprise, while she confirmed that the results of the ECB’s strategy review would be presented in the autumn. Our European economists remain confident of a strong recovery around mid-year. However, it’s unclear whether there will be sufficient data by the June meeting to provide the case for a deceleration in PEPP purchases. For more, see their ECB recap here.

Though sovereign bond yields in Europe had moved lower after the press conference, they ended the day little changed, with those on 10yr bunds (+1.0bps), OATs (+1.0bps) and BTPs (+0.2bps) seeing little movement. European equities had a much stronger session however, with the STOXX 600 (+0.68%), the DAX (+0.82%) and the CAC 40 (+0.91%) all recording solid gains.

The tax headlines in the US hampered sentiment after Europe went home and offset decent US labour market data, with the weekly initial jobless claims for the week through April 17 falling to a post-pandemic low of 547k (vs. 610k expected). This was beneath even the lowest estimate on Bloomberg, and sends the 4-week moving average down to its own post-pandemic low of 651k. Other measures similarly surprised to the upside, with the Chicago Fed’s national activity index up to +1.71 in March (vs. +1.25 expected), while the Kansas City Fed’s manufacturing index seeing the composite measure rise to 31 (vs. 28 expected), which is the strongest monthly composite reading since the survey began.

As mentioned at the top, the news on the pandemic has continued to deteriorate at a global level as numerous countries face a surge in cases. To put India’s rising case load in perspective, in mid-February they were running at around 10k new cases per day. This edged up to c.25k in early March but has now hit over 300k per day this week. Incredible numbers.Yesterday saw Japanese PM Suga recommend that the Tokyo, Osaka, Kyoto and Hyogo regions be placed under a new state of emergency. The number of new infections reported in Tokyo yesterday was its highest since late January, and comes just 3 months before the city is scheduled to host the Olympic Games. Meanwhile in Sweden, PM Lofven said that the easing of restrictions that had been planned for the start of May wouldn’t take place because of the high rates of transmission still being observed. However in France, Prime Minister Castex said the country will begin a “cautious” reopening in mid-May. First there will be a gradual easing of domestic travel restrictions beginning on May 3. This comes as Italy is expected to ease some lockdown rules itself this upcoming Monday and Germany is reportedly planning to ease some restrictions for those who have been vaccinated. Elsewhere, Bloomberg reported that China is likely to approve the BioNTech vaccine by July and will relax its requirement that inbound travelers have a jab made by a Chinese company.

Another major development yesterday came from Russia, where the defence minister said that troops which had been deployed near the Ukranian border would return to their bases. In response, Russian assets moved sharply higher, with the MOEX Russia index ending the day up +1.17%, while the Russian Ruble also strengthened significantly, rising +1.55% against the US Dollar. Ukranian President Zelensky welcomed the move in a tweet, saying that “The reduction of troops on our border proportionally reduces tension.”

Turning back to the US, there were some notable developments at President Biden’s climate summit, with the US announcing a new target for the US to reduce greenhouse gas pollution by 50-52% in 2030 compared to 2005 levels. This is on top of the administration’s existing goal of a net-zero emissions economy by 2050, and follows their move to re-join the Paris Climate Change agreement earlier in the year, which the US withdrew from under the Trump administration. This comes amidst a range of fresh targets lately from world leaders, with Japan’s Prime Minister yesterday announcing an increase in their own target, so that emissions would be down 46% from 2013 levels, up from a 26% target at present.

In terms of yesterday’s other data, existing home sales in the US fell to an annualised rate of 6.01m in March (vs. 6.11m expected), which is their lowest level in 7 months. Separately in the Euro Area, the European Commission’s advance consumer confidence reading for April came in at -8.1 (vs. -11.0 expected), which is its strongest reading since the pandemic began.

To the day ahead now, and the main highlight will likely be the aforementioned flash PMI readings for April. Otherwise, we’ll also get March data on UK retail sales and US new home sales. Earnings releases out today include Honeywell International and American Express, while the Central Bank of Russia will be making its latest monetary policy decision.

3A/ASIAN AFFAIRS

i)FRIDAY MORNING/ THURSDAY NIGHT: 

SHANGHAI CLOSED UP 9.05 PTS OR 0.26%   //Hang Sang CLOSED UP 323.41 PTS OR 1.12%     /The Nikkei closed DOWN 167.54 POINTS OR 0.57%//Australia’s all ordinaires CLOSED UP 0123%

/Chinese yuan (ONSHORE) closed UP AT 6.4910 /Oil UP TO 61.69 dollars per barrel for WTI and 65.39 for Brent. Stocks in Europe OPENED ALL RED //  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4910. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.4870   : /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//CORONAVIRUS UPDATE

Japan declares 3rd Covid 19 state of emergency

(zerohedge)

Asian Stocks Tumble As Japan Declares Third COVID-19 State Of Emergency

 
FRIDAY, APR 23, 2021 – 07:30 AM

Update (0750ET): As expected, PM Suga has officially declared the new state of emergency, apologizing to those impacted while offering some reassurances of a 5 trillion yen contingency fund ($46.4 billion) to soften the financial repercussions for individuals. 500 billion yen ($4.6 billion) will also be set aside to support Japanese firms, he said.

  • JAPAN PM SUGA DECLARES VIRUS EMERGENCY IN TOKYO AND 3 AREAS
  • JAPAN PM SUGA APOLOGISES FOR DECLARING STATE OF EMERGENCY AGAIN
  • JAPAN’S PM SUGA: 500 BILLION YEN WILL BE SET ASIDE TO SUPPORT COMPANIES.

The declaration – officially announced by Suga Friday night in Tokyo – was earlier endorsed by a panel of experts advising the Japanese government on COVID-19. Both the governors of Tokyo and Osaka requested the emergency status.

* * *

Japanese stocks tumbled on Friday, dragging down stock indexes across the region to cap off Asian equities biggest weekly drop in a month, as Prime Minister Yoshihide Suga declared a state of emergency in Tokyo, Osaka, Kyoyo and Hyogo in the hopes of tamping down the country’s worst COVID-19 outbreak yet. The lockdowns rules will take effect Sunday and continue through May 11.

Notably, the state of emergency will coincide with the Golden Week holiday.

The state of emergency, covering roughly a quarter of Japan’s population of 126 million and about one-third of the country’s economy, is being imposed just three months before the Tokyo Olympics are slated to begin.

Suga is set to finalize the decision at a COVID-19 task force meeting Friday evening.

Under the emergency, large events will effectively be banned from having an audience, while fewer buses and trains will operate on weekends and holidays, according to a draft plan seen by Nikkei. Tougher restrictions such as asking establishments serving alcohol to temporarily close and shutting down major commercial facilities are expected to be in place from Sunday through May 11. Commercial centers including department stores and shopping malls will be asked to shut, with the exception of floor space to sell daily necessities. The state of emergency will be imposed on top of a quasi-state of emergency covering 10 prefectures whereby bars and restaurants are asked to close by 2000 local time. But these restrictions failed to surpass 5,000 for a second straight day on Thursday.

“We will take targeted steps around the holiday period to stop the spread of infections by all means,” Suga said Thursday after meeting with members of his Cabinet including health minister Norihisa Tamura and Yasutoshi Nishimura, minister in charge of the government’s coronavirus response.

A Ministry of Health, Labor and Welfare panel estimated that mutant strains have driven about 80% of all new cases in Osaka and Hyogo, and are rapidly growing in Tokyo. 

Across Japan, more than 5,500 new cases of COVID were reported on Friday.

Source: Johns Hopkins

The upcoming state of emergency will be the country’s third, and while Suga insists that it won’t impact the Olympics, public opinion polls show growing public dissatisfaction with the plan, with a plurality saying the Games should be cancelled. Next month, a top official from the IOC will visit Tokyo for the purposes of making a safety assessment. And although President Joe Biden has given his blessings for the Games to continue, he’s not expected to attend.

end

3 C CHINA

CHINA/TAIWAN/USA

Taiwan is discussed and all of its ramifications

(Yang/American Institute for Economic Research)

Taiwan: The New Geopolitical And Economic Flash Point

 
THURSDAY, APR 22, 2021 – 11:05 PM

Authored by Ethan Yang via The American Institute for Economic Research,

The island nation of Taiwan may be in the spotlight today for handling Covid-19 without a lockdown but it’s about to become one of the most contentious geopolitical flashpoints of the decade. On April 17, 2021, The South China Morning Post reported that,

“The United States and Japan called for “peace and stability across the Taiwan Strait” in a joint statement released after a meeting between US President Joe Biden and Japanese Prime Minister Yoshihide Suga who reaffirmed their commitment to counter China’s “intimidation” in the East and South China seas in wide-ranging talks.

It is the first time since 1969 that the top leaders of the two countries mentioned Taiwan in a joint statement, a move that is set to infuriate Beijing.”

The move did in fact attract hostility from the Chinese as Nikkei Asia wrote,

“Hours after Japan and the U.S. named Taiwan in a leader’s summit statement for the first time in more than five decades, China hit back at the communique that also highlighted the two allies’ concerns over Hong Kong and human rights issues in Xinjiang.

“These matters bear on China’s fundamental interests and allow no interference. We express strong concern and firm opposition to relevant comments in the Joint Leaders’ Statement,” a spokesperson at the Chinese embassy said in a statement on Saturday.

Taiwan, Hong Kong and Xinjiang belong to “China’s internal affairs,” the statement said.”

Xinjiang is a region in Northwest China where the Chinese Communist Party is reported to be engaging in horrendous activities such as ethnic cleansing, religious persecution, and slave labor. Hong Kong, which came under Chinese control in 1997, was promised to have its democratic norms respected in a slow reintegration period set to end in 2047. That promise has now been shattered as the CCP unleashed a brutal crackdown in response to the Hong Kong Protests starting in 2019. China’s treatment of Hong Kong subsequently eliminated any remaining intentions amongst the independent Taiwanese to even consider a peaceful unification with the People’s Republic of China.

Taiwanese President Tsai Ing-Wen, who is a staunch advocate of Taiwanese independence and national identity, was recently reelected with the greatest popular landslide in the island’s history. It has become abundantly clear to everyone, especially the CCP, that China’s unmoving ambition to annex the island can now only be accomplished with military force. This is frightening not only because of the damage this development will have for democracy, freedom, and economic prosperity not just in Asia but around the world, but the inevitable military conflict with the US and its allies will be catastrophic. Dennis Roy notes in The Diplomatthat,

“Among these assessments, none carried more weight than that of Admiral Philip Davidson, chief of the U.S. military’s Indo-Pacific Command. Davidson opined before a U.S. Senate Committee in February that China might try to seize Taiwan by military means “in the next six years.”

Roy also notes that Chinese military assets have been conducting wargames with alarming frequency and Chinese officials have openly stated they are rehearsing for an invasion of Taiwan. Reuters even noted that recently the Chinese air force has intruded on Taiwanese airspace so frequently that Taiwan stopped scrambling jets to intercept in order to conserve resources. Instead, they are now tracking Chinese jets with ground-based missiles. 

The Strategic Importance of Taiwan 

The United States is bound by law to support the ongoing security of Taiwan through the Taiwan Relations Actwhich is a bipartisan piece of legislation that has been instrumental in not only supporting the island nation but core US interests in the Asia-Pacific region. The strong bonds of US-Taiwan friendship are as self-serving for the US as it has been for the Taiwanese. Setting aside Taiwan’s fame as a bastion of freedom and prosperity, preventing China from controlling Taiwan is a core strategic concern for US security interests. China knows this as well. 

Whoever controls Taiwan, controls the Asia-Pacific. A crucial economic and strategic region in the world. 

Joseph Bosco explains Taiwan’s strategic importance in University of Nottingham’s Taiwan Insight when he writes,

“Drawing on historical experience, the question is whether Taiwan would be as valuable a strategic asset to a potential aggressor in Asia today as it was for Japan in the 1940s.”  

During World War II Japan maintained control of Taiwan as a colony. From Taiwan, it was able to launch military pushes into the Philippines, Indonesia, and Australia while also servicing forces in Korea and China. That is because of Taiwan’s important position in the center of what is known as the First Island Chain which stretches from Japan down to South East Asia and Australia. This island chain then gives way to the Second Island Chain further east into the Pacific Ocean towards Hawaii. Controlling Taiwan would allow the Chinese military to cut the Asia-Pacific in half and conduct hostilities against major US strategic allies such as South Korea, Japan in the north, the ASEAN countries and Australia in the south. It can then start to expand its naval operations further into the Pacific Ocean much like Imperial Japan did during World War II. 

Taiwan’s deepwater ports would also give the Chinese navy the ability to not only dominate the Pacific Ocean and its trade routes but also exercise more leverage over the South China Sea. The South China Sea saw almost $3.37 trillion worth of global trade pass through in 2016 and 40 percent of the global natural gas trade in 2017. The current status quo maintained by the United States and its allies is one of a rules-based international order dedicated to human rights, trade, and cooperation. A Chinese-occupied Taiwan would allow the Chinese to follow through with their vision of turning the South China Sea, a region with numerous countries laying claim, into a “Chinese Lake.”

Chinese primacy in the region would plunge Asia as well as the world further into authoritarian darkness. China would be able to not only make more territorial demands to more countries but it can threaten to disrupt trade and free movement to any country in the world that questions its authoritarian practices. 

Economic Importance

Although Taiwan may be an island the size of Maryland, it’s one of the richest countries in the world with a GDP (PPP) of $1.3 trillion, an estimated 2021 nominal GDP of over $759 billion, and a population of 23 million. For comparison, that’s a population and GDP (PPP) similar to Australia and a nominal GDP just behind Turkey, Saudi Arabia, and Switzerland. Taiwan is also a critical trade partner for the US, being our 10th largest goods trading partner and 6th largest consumer of US agricultural exports. 

Even more important, however, is Taiwan’s place in the global economy. When the Portuguese discovered the island in the 16th century they gave it a name that is still used today: Formosa. That translates to “beautiful isle” to which Taiwan was and certainly is a scenic tourist destination. However, today it is also one of the most advanced producers of semiconductors in the world and a technology hub more generally. Semiconductors are essential for producing everything from data centers, cars, smartphones and other pieces of technology that are increasingly becoming more important to the basic functioning of society. At the moment, there is currently a global shortage of semiconductors which has only been exacerbated by Covid-19 lockdowns and the accelerated transition to a digital society. 

Furthermore, Taiwan has taken large steps in positioning itself as the Silicon Valley of Asia with massive investments in scientific research and startup-friendly infrastructure. Taiwan’s geographic location as a stepping stone to the rest of Asia and its relatively high economic freedom make this vision a decent possibility. As Taiwan emerges from Covid-19 with an economy relatively unscathed by lockdowns, its economic importance will likely only grow as it becomes a more popular spot for investment. That also makes it an even greater prize for the Chinese and an asset to the free world. 

Taiwan as a free and independent country makes it an active agent in making the world a more prosperous and technologically advanced place. Taiwan under Chinese control gives the CCP even more economic leverage over any country that speaks out against its authoritarian model. Not to mention that it will have removed one of the major alternatives to Chinese technology, which has been known to function as an arm of the CCP’s surveillance state. 

Key Takeaways

With the escalating tensions between Taiwan, China, and everyone in between, it is clear that once Covid-19 fades out of the picture, Taiwan will be one of the next global tension points. This seems even more likely as the Biden administration announces its intentions to withdraw troops from Afghanistan and with US-China tensions at an all-time high. During the Obama administration, the US foreign policy establishment announced a “pivot to Asia,” and the reasons cannot be more clear. 

Although Taiwan has always been an important US foreign policy interest for decades, current events will likely make it the most important. The island has been caught in the middle of a perfect storm of global geopolitical tension, radical economic change, and an existential ideological struggle between liberty and authoritarianism. The stakes could not be higher, as one false move could spark a devastating armed conflict between global superpowers. Failure to act sufficiently will jeopardize the future of freedom and prosperity not just in Asia but around the world. 

 

end

4/EUROPEAN AFFAIRS

EU/VACCINE UPDATE

Interesting, the EU can sue but not the states on any vaccine matter

(zerohedge)

EU May Sue AstraZeneca Over Botched COVID Vaccine Rollout

 
FRIDAY, APR 23, 2021 – 04:15 AM

AstraZeneca has faced unceasing criticism since the start of the COVID-19 vaccine rollout due to sloppy communications with regulators and governments that led to several halts during the testing phase (including a month-long halt to a US trial following disturbing cases of deadly blood clots in the UK).

As it would happen, those blood clots – which the company dismissed back during the trials as a freak coincidence – are now at the center of an international scandal that has made all adenovirus-platform vaccines (including the J&J jab, which is still facing a halt in the US) suspect. While AstraZeneca continues to deny a link, the EMA – Brussels’ top drug regulator – has acknowledged a likely connection, and US regulators have drawn similar conclusions about J&J.

But while the EU continues to insist that the risks of taking the AZ jab are far outweighed by its societal benefits, Brussels is still sore about production shortfalls that sabotaged the early pan-EU rollout, which led to international embarrassment and even prompted some member states, like Hungary, to turn to Russia and China.

Now, for all the trouble the British-Swedish drugmaker has caused, the EU is working on a legal proceeding against it, according to reports in Reuters and Politico. Here’s more from Reuters:

The move would mark a further step in an EU plan to sever ties with the Anglo-Swedish company after it repeatedly cut supplies to the bloc, contributing to major delays in Europe’s vaccine rollout.

The news about the legal case was first reported on Thursday by Politico. An EU official involved in talks with drugmakers confirmed authorities in Brussels were preparing to sue the company.

“EU states have to decide if they (will) participate. It is about fulfillment of deliveries by the end of the second quarter,” the official said.

The matter was discussed on Wednesday at a meeting with EU diplomats, where most EU states supported the legal action, two diplomats told Reuters.

However, as Politico pointed out, some of the EU’s biggest members are apprehensive about the lawsuit, arguing that it’s unclear

The European Commission is getting ready to launch legal proceedings against vaccine producer AstraZeneca, according to six EU diplomats.

The Commission raised the matter at a meeting of EU ambassadors Wednesday, during which the majority of EU countries said they would support suing the company on the grounds that it massively under-delivered pledged coronavirus vaccine doses to the bloc.

However, five to six countries, including large states like Germany and France, raised concerns about launching a lawsuit against AstraZeneca, according to several diplomats. One of the concerns, as one diplomat explained, is that a lawsuit wouldn’t guarantee that the EU got more doses.

“What can we do in practical terms if AstraZeneca says, ‘Take a closer look at our production sites: We just have no vaccines,'” the diplomat said, adding that some countries were “not assured this is enforceable.”

The EU Commission said Thursday that no decision has been made at this point in time regarding AstraZeneca, leaving the door open for a lawsuit in the not-too-distant future. According to Politico, the Commission was considering filing a lawsuit in Belgian court by this Friday and is waiting for formal sign-off from EU countries. But some of the countries who have doubts voiced concerns about the tight deadline.

However, as we pointed out a few weeks ago, Brussels is equally at fault for the botched vaccine rollout as AstraZeneca. Here’s a breakdown of five ways the EU mismanaged its vaccine rollout, courtesy of the Brussels Report.

* * *

1. The EU failed to secure vaccines as quickly as the U.K., the U.S. and Israel

Whatever the reason, not as many Covid vaccines were delivered to the EU in the last few months as compared to the deliveries to Israel, the United States and the United Kingdom. Even proponents of greater EU centralization, like Renew MEP Guy Verhofstadt, have criticized the EU for this, saying that the reason for the EU’s lackluster performance is because of “the contracts Europe negotiated with the pharmaceutical companies”, which he thinks are “extremely unbalanced. They are precise on pricing and liabilities but weak and vague on supply and on timing, and offer escape routes to the contractual obligations of the pharmaceutical companies involved.”

The EU Commission has come up with all kinds of excuses for this, even accusing one of the vaccine producers, AstraZeneca, of having violated its contractual obligations with the EU, but when the contracts were made public, it was not clear at all that this was the case. What we know, is that the EU closed the deal with AstraZeneca three months later than the U.K. and that it was four months slower than the U.K. and the U.S. in signing the contract with Pfizer. Also, there would be provisions in the U.S. contract with J&J that the U.S. would enjoy priority for its J&J vaccine. Furthermore, Israel would have paid 2.3 times the EU’s price, thereby obtaining 40 percent more vaccine doses than Germany, even if the country’s population size is 12 percent of Germany’s.

In a nutshell: after Angela Merkel forced her Minister of Health to hand the initiative to negotiate contracts for vaccine procurement to the European Commission in June 2020, the Commission failed to do the job well. This doesn’t stop the supranational bureaucracy from calling for even more powers over health policy. One lesson that can already be drawn, is that this is not a good idea.

Some EU countries have already broken ranks with the EU. Austria and Denmark closed a deal with Israel on vaccine production, to “no longer be dependent only on the EU”, while also Poland, Hungary, Slovakia, and the Czech Republic have opted to go alone in various ways, exploring deals with Russia and China.

Perhaps EU governments jointly negotiating with big pharma made sense, but then some kind of technical team directly steered by 27 national governments, rather than a politicized supranational bureaucracy should have been made responsible.

2. When a mistake was made, the EU refused to admit this

For those in doubt that the EU Commission is a deeply politicized institution, it suffices to take a look at how the Commission reacted when the poor results of its actions become apparent. It’s one thing to make a mistake. It’s yet another not to admit it.

In between accusing one of the vaccine producers that had just managed to come up with an incredibly successful vaccine at record speed of “breach of contract”, EU Commission President Ursula von der Leyen attempted to blame her Trade Commissioner, Valdis Dombrovskis. After dragging her feet, in the end she did issue a half-hearted admission that “mistakes were made” but that “in the end, we got it right.” Also her deputy, EU Commission vice-President Frans Timmermans, has now admitted “errors”, however without much explanation how and not without a sneer towards member states.

3. In a bid to divert attention from its failures, the EU played up vaccine skepticism

In a weird turn of events, EU leaders – or at least some of them – appeared to start badmouthing the vaccine they first were clamoring for. Again EU Commission chief von der Leyen suggested that the U.K. had compromised vaccination “safety and efficacy”, unlike of course the EU. A similar tactic had been used by Belgian Prime Minister Alexander De Croo, when he stated in December that the UK was merely faster in approving the Pfizer vaccine because “they have used their population as [guinea pigs] over there.”  Perhaps French President Macron went the farthest of them all, when he stated that the AstraZeneca vaccine was “‘quasi-ineffective” for older people. This flatly contradicted the science, according to which there simply wasn’t sufficient data to conclude it would also protect the elderly. It also contradicted the advice of the European Medicines Agency (EMA), which claimed that despite the lack of data, “protection is expected” also for those over 55 years old – something that has been confirmed by now.

A child could predict such statements by the EU Commission President and EU leaders, clearly made in a bid to divert attention from the EU’s own failures, wouldn’t exactly strengthen support for vaccines among the many “vaccine skeptics” in the EU. In practice, these look to have played a role in the low take-up of the vaccine, even if this would also be due to logistical failures of national governments. It also complicates the work to convince people vaccines are safe when actual legitimate worries arise, for example in recent days, when a number of EU member states suspended use of the AstraZeneca vaccine, despite reassurances by the European Medicines Agency (EMA).

4. The EU decided to set up a vaccine export restriction scheme, risking retaliation

Another questionable response was to set up a so-called “export certification” mechanism, which allows curbs on exports of vaccines if drug makers fail to meet delivery targets. This was used for the first time by the government of new Italian PM Mario Draghi, when a batch of 250.000 AstraZeneca vaccines destined for Australia were denied an export permit from Italy.

The move was cleared by the European Commission, but may end up hurting the EU. Non-EU countries may retaliate, with or within the context of the WTO. This is also a headache for the EU vaccine industry, which is strongly reliant on imports from North America. Most companies at the forefront of vaccine effort have production capacity in EU to serve the world. Vaccine producers have testified their production capacity was already being slowed down due to these new bureaucratic hurdles.

On the longer term, this kind of politically inspired populist protectionism may also make the EU a less attractive place for investment into this innovative industry for which EU member states are so renown. Long gone are the days – a mere few months ago – when Ursula von der Leyen was pontificating not to engage in costly “vaccine nationalism”. One estimate puts the cost of such “vaccine nationalism” at $9 trillion, because of hampered international cooperation and reduced trade.

5. The EU fought the one thing that has proven to work to avoid lockdowns: travel restrictions

The one thing that seems to have enabled countries to avoid economically devastating lockdowns were travel restrictions. Among Western nations, Finland and Norway, not Sweden, should really be the poster childs of the global “anti- lockdown” movements. They were both even more liberal than Sweden throughout 2020, and nevertheless managed to suppress the spread of Covid successfully, unlike Sweden. Their travel restrictions were key to help avoid the need for lockdowns after Spring, when everybody had been surprised by the virus. The travel checks they imposed weren’t all that burdensome and closely linked to virus infection risk data.

Perhaps it would be harder for countries in the middle of Europe to enforce such restrictions than for those in the periphery, but then well-traveled countries also have more scope to reduce infection risk by limiting non-essential travel. Belgium did so, in any case. Despite all the evidence that it works, in the middle of February, the EU Commission expressed concerns about such bans on non-essential travel. That’s not to say it shouldn’t be the job of the Commission to push for a relaxation when infection rates allow, and of course, it’s good to be mindful about such restrictions, but when the alternative is to inflict much more harm to the domestic economy, it’s obvious what the priority should be.

* * *

The company has projected it’ll deliver roughly 70 million doses by the end of the second quarter of this year, when it was supposed to have delivered the entire 300 million doses secured in the EU contract.

END

 
 
END
FRANCE//VINEYARDS
Frost is destroying the vineyards in France.  This is their huge money maker
(zerohedge)

“Agricultural Disaster” – Frost Blast Decimates French Vineyards, May Slash Total Wine Output By Third 

 
FRIDAY, APR 23, 2021 – 02:45 AM

Earlier this month, French farmers fought mother nature in their attempt to prevent frost from wiping out their crops. It appears their attempts have failed as the damage is extensive and could wipe out nearly a third of French wine output for the year. 

In early April, French farmers scrambled to light-controlled fires across their vineyards to stave off frost. Euronews document these efforts in a series of stunning photographs. 

A farmer burns a bale of straw in his vineyard to protect grapevines from frost. This picture was taken on April 7 at the heart of the Vouvray vineyard in Touraine, France.

Winegrowers from the Domaine Daniel Etienne Defaix vineyard in Chablis lit fires across their fields. 

Smoke rises across multiple vineyards in Touraine, France. 

As reported by The Guardian, the French government declared the frost an “agricultural disaster” and planned to provide financial support to farmers. 

Several thousand hectares of farming land, including Bordeaux, Burgundy, Champagne, and the Rhône Valley, were heavily impacted by the frost. 

Jérôme Despey, the secretary-general of the FNSEA farming union, said this year’s frost could be one of the worst in decades. He said it might be more damaging than the ones experienced in 1991, 1997, and 2003.

Agriculture minister Julien Denormandie said the frost blast was a “completely exceptional situation,” resulting in “substantial losses.”

Exact losses are unknown at this time. But fresh estimates this week by the farm office FranceAgriMer warns at least a third of the country’s 2021 wine production could be affected, reported Reuters

Ygor Gibelind of FranceAgriMer said frost damages would be more apparent by the end of the month. He estimates wine output could decrease by 28% to 32% below average volumes of recent years. 

“This (frost) was something exceptional, both in the fact it spread so far south and that is was so widespread,” Gibelind said, adding that the damage was exacerbated by warmer weather early in the growing season and accelerated plant growth. 

Gibelind said Burgundy is the worst-hit area where some farmers lost half their crop. The second worst area is in Languedoc, with about 40% crop loss, then Aquitaine that encompasses Bordeaux at some 30%. 

A decline in French wine output would certainly suggest bottles from the country are about to experience a price surge as supply constraints become realized. 

end

 

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

RUSSIA/

Rouble jumps after Russian surprises everyone with a bigger than expected rate hike Inflation is gaining strength in Russia

(zerohedge)

Ruble Jumps After Russia Surprises With Bigger Than Expected Rate Hike

 
FRIDAY, APR 23, 2021 – 09:40 AM

While the Fed refuses to acknowledge that the US has an inflation problem, most emerging market countries have no such luxury and just days after the Bank of Canada tapered its QE for the second time, this morning Russia became the latest country to surprise markets when it unexpectedly hiked its key rate by 50 basis points – more than the 25 expected by consensus – and signaled more tightening as ruble volatility amid a deepening standoff with the West contributed to rising inflation risks.

The Bank of Russia raised the benchmark rate to 5% on Friday, a move expected by just thirteen economists out of 41 analysts while 28 expected a smaller cut.

“The Bank of Russia will consider the necessity of further increases in the key rate at its upcoming meetings,” according to the central bank statement. The bank also raised its year-end estimate for inflation to 4.7%-5.2% from 3.7%-4.2% and warned that price growth continues to develop above forecast, indicating that more tightening is forthcoming. Indeed, central bank governor Elvira Nabiullina left little doubt the hawkish approach to counter inflation will continue, and said future hikes could also be higher than 25 basis points.

And while Nabiullina hardly touched on it in her presser, the market has taken a breath of relief as geopolitical tensions have eased recently, after Putin refrained from escalating the standoff with Ukraine during his Wednesday nationwide address, with jailed Russian opposition leader Alexey Navalny ending his hunger strike and Russia reducing the number of troops it placed on Ukraine’s border

As Bloomberg notes, the ruble has been hit by a series of geopolitical shocks since Bank of Russia Governor Elvira Nabiullina pushed through a surprise 25 basis-point rate hike last month, adding to inflationary pressures. A faster-than-expected economic recovery from the pandemic is adding to price growth, the central bank said on Friday. Even with the recent rate hikes, the central bank hinted that normality is still far out on the horizon, saying the key rate will only average the neutral range of 5%-6% in 2023, according to its new medium-range forecast.

The ruble extended gains versus the dollar, trading at the strongest in a month, and 10-year local bonds pared Friday’s decline.

 

RUSSIA /USA

USA claims that Russia is behind “directed energy” attacks in Syria which are making soldiers sick

(zerohedge)

Russia Behind ‘Directed Energy’ Attacks On US Troops In Syria: Pentagon Officials

 
THURSDAY, APR 22, 2021 – 07:25 PM

In the newest dramatic allegations against suspected Russian malfeasance, the Department of Defense (DoD) on Thursday revealed that it believes the Russian military targeted US troops in Syria with ‘directed energy attacks’ in order to make them ill and unable to conduct normal operations

Apparently some US troops occupying the country began reporting “flu-like symptoms” which caused the DoD to investigate possible linkage to microwave or directed energy weapons on the battlefield of Syria. Politico reports that “officials identified Russia as a likely culprit, according to two people with direct knowledge of the matter.”

Via AP

DoD officials said they briefed top lawmakers on intelligence which they say points to Russia being behind a series of these suspected high tech attacks. This follows a major investigation being conducted since last year of similar mysterious attacks against US personnel across the globe.

Controversy has raged since late 2016 into 2017 and the “Havana syndrome” story, which involved some 50 diplomatic officials working at the US Embassy in Cuba coming down with strange illnesses and symptoms which many blamed on high tech ‘sonic attacks’ of some sort.  

Personnel reported experiencing everything from vomiting to concussions to chronic headaches to minor brain injuries. But analysts and scientists have been deeply divided on the issue, with speculation ranging from high pitched sounds from crickets or even mass hysteria causing the illness.

But Politico reports of these newest allegations of the potential targeting of Americans in northeast Syria as follows

The briefings included information about injuries sustained by U.S. troops in Syria, the people said. The investigation includes one incident in Syria in the fall of 2020 in which several troops developed flu-like symptoms, two people familiar with the Pentagon probe said.

The CIA is said to also be looking into these suspected attacks via its own task force. 

Strangely, the Politico report also included a denial that troops in Syria were ever found to be victims of such weapons by the Pentagon press spokesperson, strongly suggesting this is a continuation of the current, highly politicized “just blame Russia” climate in Washington…

A Pentagon spokesperson, however, said the department is not aware of directed-energy attacks against U.S. troops in Syria. The spokesperson declined further comment on the Pentagon’s interactions with Capitol Hill or any internal investigation.

The incidents of suspected directed-energy attacks by Russia on Americans abroad became so concerning that the Pentagon’s office of special operations and low-intensity conflict began investigating last year, according to two former national security officials involved in the effort. It’s unclear exactly how many troops were injured, or the extent of their injuries.

At this point the original Havana episode is believed to include the clearest evidence yet of a large group of people reporting to have experienced bizarre symptoms, and yet even this has failed to produce known evidence that Russia or a US enemy zapped Americans with an advanced microwave weapon. 

END
RUSSIA//UKRAINE BORDER
International media confirms Russian troop pullback from Crimea and Ukraine border
(zerohedge)

International Media Confirms Pullout Of Russian Troops From Crimea & Ukraine Border

 
FRIDAY, APR 23, 2021 – 02:45 PM

Russia has given further confirmation Friday of a major troop reduction underway in its southern region, causing Ukraine and regional powers to breath a sigh of relief. Russia’s defense ministry still blamed the United States for this month’s escalation in tensions which has driven world headlines. As Reuters reports, the statement indicated the “troop pullback had nothing to do with ties with Washington or a possible Biden-Putin summit and blamed the United States for the dire state of relations, saying that Moscow wanted to revive bilateral ties.”

It’s the first on the ground confirmation following Defense Minister Sergey Shoigu’s Thursday declaration that the major Crimea and Black sea war drills had been completed and that troops would be ordered back to their permanent bases. “Russia on Friday said troops from its southern military district and airborne troops that took part in the snap inspection were beginning to rebase,” Reuters notes of the latest announcement.

Via TASS

“It said that military units and formations were marching to railway loading stations and airfields and aired footage of armoured vehicles boarding landing ships on a beach and other military vehicles being loaded onto trains. Soldiers were shown marching onto a military aircraft,” the report continues. 

It’s further being called a “confirmed pullout of the troops” which is likely to be “welcomed by Western countries” which had been threatening Moscow that any offensive into eastern Ukraine will be met with a swift response. 

Over the past month there’ve been growing fears that a major regional conflict could break out, especially after both Kiev and Washington accused Russia of mustering even more troops near war-torn Donbass than during 2014, which was at the start and height of the conflict between pro-Russian separatists and Ukrainian national forces near breakaway Donetsk and Luhansk.

Speculation has been rampant and the actual numbers of additional Russian troops near Ukraine over the past three weeks has differed wildly – from claims of multiple tens of thousands to 100,000 – and all the way up to fantastical projections of 150,000. It remains unclear to what degree Russia will fully draw down these ‘extra’ forces near Ukraine’s border and in Crimea. 

Ukraine’s President Zelensky also appears to have confirmed the major troop reduction near the border…

It’s likely that some level of an additional remnant of military units and hardware from the latest ramped up drills will remain in this southern Russian region, which will likely continue to rile Kiev and its external backers in NATO.

IRAN/USA/ISRAEL
Biden is a patsy when dealing with Iran. He will now willing to forgo some sanctions to get the talks to go back on
Iran will build its bomb no matter what.  They have ordered just now more centrifuges that they had before the Israeli attack on the Natanz facility.

US Offers To Lift Sanctions On Iran’s Central Bank, Oil & Shipping

 
FRIDAY, APR 23, 2021 – 02:00 PM

So far during this month’s high stakes Vienna talks the Biden administration has refused to give in to Iranian demands that all Trump-era sanctions be immediately lifted as a condition for direct talks leading to the restoration of the JCPOA nuclear deal. The two sides have instead talked ‘indirectly’ via European mediators. 

But there’s been ‘positive’ progress reported as talks are set to resume next week, which has included Washington signaling it is willing to lift sanctions in a piecemeal fashion, especially when it comes to certain key vital sectors of the economy, such as energy, medical, and central banking. 

The Wall Street Journal this week is citing two unnamed officials close to negotiations who said “the US is open to lifting terror sanctions against Iran’s central bank, its national oil and tanker companies and several key economic sectors including steel, aluminum and others.” The Iranians want to see specifics, however, before they are willing to roll back uranium enrichment and other breaches of the 2015 JCPOA terms.

 

Via Iran’s IRNA

And further, “A senior European official said Washington has also signaled potential sanctions relief for sectors including textiles, autos, shipping and insurance, all industries Iran was earmarked to gain from in the 2015 agreement.”

“Lifting terror sanctions against some of those state entities and critical sectors of the economy would act as a significant tonic to the crippled economy and represent a large share of the country’s income,” the WSJ report underscored. 

Recall that Trump’s sanctions against the central bank came amid allegations of terrorist financing and support. The “terror” designations left in place by Trump on key sectors of the Iranian economy remains a significant hurdle to overcome, which something which Tehran is demanding as a central condition of progress. 

Meanwhile the Islamic Republic continues taking to steps to apply its own counter-pressure on the US and the West, reportedly pursuing the installation of more advanced centrifuges to repair the damage after the earlier Natanz nuclear site sabotage – believed to have been carried out by Israeli intelligence. “The UN atomic agency on Wednesday said Iran has installed additional advanced centrifuges at its Natanz nuclear plant, the site of a recent blast blamed on Israel,” The Times of Israel reported this week.

“According to a report by the International Atomic Energy Agency, seen by Reuters, Iran added two more cascades of IR-4 centrifuges and six clusters of IR-2m at its  underground facility,” the report said. “The IAEA also confirmed that some of the centrifuges were in use and said the Islamic Republic plans to install another four cascades of the IR-4 at Natanz.” This means the Iranians intend to have more in place than were previously in place before the April 11 attack at the Natanz nuclear site.

 

END

Oh OH  This got Erdogan very angry:  Biden recognizes the Armenian genocide of 1915-1917 by the young Turkey

(zerohedge)

Biden Informs Incensed Erdogan Of Armenian Genocide Recognition In Friday Phone Call

 
FRIDAY, APR 23, 2021 – 03:45 PM

On Friday President Biden informed Turkish President Recep Tayyip Erdogan in a phone call that the White House will formally recognize the Armenian genocide on Saturday.

Biden is expected to for the first time specifically invoke the word “genocide” in the Saturday commemoration of Armenian Genocide Remembrance Day, which will make him the first ever US president to do so. 

Via AP

This has been among the most controversial topics in modern Turkish society, and throughout past decades, which is subject in some cases to criminal prosecution by the Turkish state. And it remains a Turkish ‘red line’ for which all the country’s recent modern leaders have reacted fiercely at the mere suggestion, and which only thirty countries in the world officially acknowledge. The Untied States will now the be the 31st, and likely more will follow the example of the Biden move. 

A no doubt stung and angry Turkish leader had this statement following the tense call, which simply acknowledged the two leaders spoke on a “constructive bilateral relationship with expanded areas of cooperation and effective management of disagreements” – yet without recognizing the contentious Armenian issue. 

Given this will see US-Turkey relations spiral further downward, the Turkish lira plunged to its weakest point since November on the news Friday afternoon

As Bloomberg notes, the lira fell as much as 1% to 8.4050 per dollar Friday afternoon, which is “the weakest level since March 30, after report that President Biden tells his Turkish counterpart Erdogan that he will call Armenian Massacre a genocide.”

Congressional leaders as well as Armenian-Americans have for decades lobbied for greater recognition of the event which was carried out by the Young Turk government during the World War I period. It saw the the mass systematic killing of over one million Armenians in Asia Minor from 1915-1917 at the end of the Ottoman Empire. Hundreds of thousands of Greek and Assyrian Christians were also slaughtered in the name of achieving ‘Turkification’.  However, the term itself has for years been banned in Turkey’s parliamenand results in swift crackdowns and legal measures for any journalist wishing to write about it within the country. 

Turkey’s longtime pressure campaign has worked in many Western countries. For example, the Trump administration had blocked a 2019 bipartisan Congressional effort to pass legislation recognizing the Armenian genocide. Thus Biden’s recognition will mark a major break from all predecessors, who didn’t want to rile relations with the powerful NATO ally. 

 

6.Global Issues

CORONAVIRUS UPDATE

A new USA study shows that “Long Haul” COVID 19 patients can be reinfected and can actually die months after infection

scary!!

(zerohedge)

New Study Shows “Long Haul” COVID-19 Can Kill Patients Months After Infection

 
THURSDAY, APR 22, 2021 – 10:05 PM

Across the US, tens of thousands of people who were infected with SARS-CoV-2, the virus that causes COVID-19, have struggled with a buffet of debilitating symptoms that made it impossible for them to work or live normal lives. Many of those who were eligible sought disability as baffled scientists tried to determine the cause of the “long hauler” syndrome, as it has come to be known.

Media outlets like the Washington Post and New York Times have chronicled the experiences of individuals struggling with “long hauler” syndrome months after they first contracted COVID-19. Some patients noted that, while they more or less felt fine, their sense of smell and taste had yet to return. Others complained that a persistent “brain fog” had settled over them. With doctors offering few answers, many sufferers turned to online communities to pool their experiences.

Now, the latest research published in the journal Nature shows that “long haulers” are at much higher risk of dying from their protracted symptoms.

How much higher? The data showed survivors had a 59% increased risk of dying within six months after contracting the SARS-CoV-2 virus, researchers reported Thursday in the journal Nature. This excess mortality translates into about 8 extra deaths per 1,000 patients. That’s worsening the pandemic’s hidden toll amid growing recognition that many patients require readmission, and some die, weeks after the viral infection abates.

“When we are looking at the acute phase, we’re only pretty much looking at the tip of the iceberg,” said Ziyad Al-Aly, chief of the research and development service at the St. Louis VA Medical Center in Missouri, who led the study, and spoke to Bloomberg in an interview. “We’re starting to see a little bit beneath that iceberg, and it’s really alarming.”

Al-Aly and his colleagues documented the cascade of debilitating symptoms that plague long haulers even months after their diagnosis: from blood clots, stroke, diabetes and breathing difficulties to heart, liver and kidney damage, depression, anxiety and memory loss.

Globally, more than 143 million people have tested positive for COVID-19, and more than 3 million have died from the disease. As for how many become long haulers, some other studies have put the number at roughly 10%, according to Bloomberg. But nobody really knows, and those who pass away months later from the condition typically aren’t counted among COVID-19 deaths.

Adding to the host of risk factors, long-haulers required increased use of various medications, including antidepressants and opioids. “We worry about potential spikes in suicide or potential spikes in overdose of opioids,” Al-Aly told Bloomberg in an interview.

Look at the numbers from a broader perspective, the researchers found that patients with COVID-19 who survived hospitalization had a 51% higher risk of dying compared with 13,997 influenza patients who also had been hospitalized. Al-Aly, who is also an assistant professor of medicine at the Washington University School of Medicine, said he hoped the research would provide a roadmap to inform health-system planning and care strategies to mitigate chronic ill health among Covid-19 survivors, especially in the U.S. “Let’s not act surprised two years down the road, when people start committing suicide,” he said. “We did not do very well preparing and dealing with Covid. Let’s not make that mistake a second time.”

Read the full study below:

s41586-021-03553-9_reference

end

CDC “Looking At” Whether Masks Are Still Needed Outdoors

 
FRIDAY, APR 23, 2021 – 02:15 PM

Authored by Mimi Nguyen Ly via The Epoch Times,

The Centers for Disease Control and Prevention (CDC) is “looking at” whether people should continue to wear masks outdoors amid the pandemic.

“This is a question that we’re looking at,” CDC Director Dr. Rochelle Walensky said on the “Today” show when asked about the matter. “One of the things I think that’s really important to understand is, while there’s wonderful news and we’re getting more and more people vaccinated every single day, we still had 57,000 cases of COVID yesterday, we still had 733 deaths.

“And so now, we are really trying to scale up vaccination. We have this complex message that we still have hot spots in this country. And we will be looking at the outdoor masking question but it’s also in the context of the fact that we still have people who are dying of COVID.”

CDC Director Rochelle Walensky speaks to reporters after visiting the Hynes Convention Center FEMA Mass Vaccination Site in Boston, Mass., on March 30, 2021. (Erin Clark/Pool/Getty Images)

Show host Samantha Guthrie then asked, “I understand this is really complicated, but if people are getting vaccinated but they still have to wear masks—they’re outside in the fresh air and the warm weather but the CDC is still saying, ‘Well you should probably wear your masks’—What’s the incentive? Isn’t part of this part of a reward thing where, ‘Do the right thing and you’ll be rewarded?’ Do you balance that at all when you’re making these decisions about the guidance that you give?”

Walensky responded, “We absolutely do and as we look at the guidance to revive—the guidance of what you can do when you’re vaccinated, that will be easier and easier to do as more and more people get vaccinated.”

The CDC’s guidance for wearing masks, updated on April 19, advises, “Masks may not be necessary when you are outside by yourself away from others, or with people who live in your household.” The guidance notes that some areas in the United States may have mask mandates while out in public.

The agency said it generally recommends that people should wear masks “in public settings, at events and gatherings, and anywhere they will be around other people,” as well as on any public transportation.

The CDC in another guidance updated April 2 noted that people who have been fully vaccinated against COVID-19 should “keep taking precautions” in public spaces, such as wearing a mask, staying six feet away from others, and avoiding crowds.

COVID-19, the disease caused by the CCP (Chinese Communist Party) virus, is known to spread mainly via respiratory droplets that a person exhales. When the respiratory droplets are inhaled by another person, or is somehow deposited into the other person’s mucous membranes that line the inside of the nose and mouth, infection may occur. The droplets can range in size, and small droplets “can also form particles when they dry very quickly in the airstream,” according to the CDC.

If the small droplets and particles manage to remain in the air for minutes to hours, COVID-19 can be spread via airborne transmission, and affect another person who is further than six feet away from the infected person. Only N95 masks protect against smaller particles.

The disease is less commonly spread through touching contaminated surfaces.

A review in the The Journal of Infectious Diseases published in November 2020 found that the likelihood of spreading he virus indoors was 18.7 times higher than outdoors, and that less than 10 percent of reported global CCP virus infections occurred outdoors.

Currently, 26 U.S. states, as well as the District of Columbia and Puerto Rico, require people to wear masks in public. A total of 13 states have lifted their mask mandates.

end

Today’s major topics of the day..

(Michel Every)

 

Rabo: The Irony Is That Both Wall Street And Silicon Valley Went All-In To Get Biden Elected

 
FRIDAY, APR 23, 2021 – 10:17 AM

By Michael Every of Rabobank

Now THAT’S escalation!

What a relief that a Russian troop withdrawal and an explanation short of Iran targeting Israel’s nuclear reactor mean the near-term risk of Hot War is removed,…and we can get back to focusing on Cold War (as more bipartisan US anti-China legislation races through Congress). Let’s forget about military experts concluding that because Russia left its military hardware right next to the Ukrainian border it can complete a new build-up within days, and far less visibly; and that the risk of an Iranian attack on Israel remains. Let’s look just at markets, eh?

Even there, we see remarkable pushing of boundaries. The ECB left rates on hold as expected; stressed negative rates stimulate the economy (?!); maintained QE levels; pushed the PEPP envelope as its latest weapon; and mentioned they are looking at the exchange rate too in terms of what inflationary/deflationary signals it sends – so hardware left near that frontier too. Just take a step back, please, and consider that what was once a simple rate decision is now negative rates + QE + PEPP + an eye on EUR. And yet they are still losing the battle towards 2% CPI. What secret super-weapon would be next, one wonders?

More importantly for markets, US President Biden launched another stimulus package. No, not the USD1.9 trillion bill that already went through; and not the USD2.25 trillion infrastructure bill than redefines social spending as infrastructure, and is planned to be funded by higher corporate taxes; instead, a new USD1.5 trillion spending bill aimed at helping American families (via universal pre-kindergarten, expanded subsidies for child care, a national paid leave program for workers, and free community college tuition) to be funded by raising capital gains tax from 23.8% to 39.6% for those earning more than USD1 million, alongside a matching top marginal income tax rate of 39.6% (up from 37%). The 3.8% tax on investment income to fund Obamacare would also stay, meaning a top rate of 43.4% for some (and higher in New York). Moreover, this tax apparently includes the sale of inherited art and property –again aimed mostly at the rich– and would be retroactive to cover 2021, so if it passes, selling now won’t help avoid it.

Obviously, US markets sold off anyway, and there was a rush for safety as US 10-year Treasury yields dropped below 1.54%. The message which echoed in the press and social media from Wall Street to Silicon Valley was clear: “Reflation, please: but not redistribution!”

Will this measure pass? It’s unclear with the current make-up of Congress, just as it is for the USD2.25 trillion infrastructure bill. Yet presuming the latter is rammed through ahead via reconciliation, then it is technically possible the same mechanism could be used for tax-hikes in 2022, meaning we would potentially be less than a year away from a huge US step away from financialization and towards a somewhat more European-looking economy.

The irony is that both Wall Street and Silicon Valley went all-in to get President Biden elected, and two elections in a row have seen the guy they put in the White House lead US policy in a direction they don’t like at all. From Trump, it was America First, protectionism, anti-globalisation, anti-China, and anti-Big Tech. From Biden, it’s still anti-China, high taxation – and possibly anti-Big Tech as well. After all, anti-trust Linda Kahn is now nominated for the FTC. Moreover, whispers are flying Treasury Secretary Yellen will slap an 80% tax on crypto assets. Talk about putting down the Doge, making Bitcoin worth just a bit, and sending Ethereum into the ether; and again, what an irony – death via taxes, the two eternal truths Silicon Valley seems busiest trying to avoid.   

As I have mentioned before, we no longer have an Overton Window in the US: it’s wall-to-wall, floor-to-ceiling glass. As such, Wall Street and Silicon Valley are perhaps going to have to live with the same “disruption” — and loss of income — that US workers in most other fields have experienced at their hands for decades. One can already hear the pearl-clutching. Wall Street might move to Miami to save a few percent on taxes, but can it fight the current political momentum from both Republicans AND Democrats? Silicon Valley will have a tantrum, and there may be threats to work in China instead: but ask Jack Ma about how that is working out.

So what’s the global angle? Expect more pearl-clutching from some. Yet also consider the US, despite its dysfunctional political system, has showed in two successive elections that it can produce transformative outcomes, and at some point this Hegelian process is going to find a synthesis that works for it. How are other countries doing on that front, the EU and Japan in particular, or even China – where is their long talked-off, much-needed property tax?

Yes, there will be voices screaming the US will see net capital outflows. Near-term, yes, perhaps. However, to where? Where looks better in terms of growth prospects, with a queue of multi-trillion US stimulus packages now being lined up? Crucially, however, the US does not need foreign capital. It has household savings among the wealthy at a record high, piles of (big) corporate cash, huge government spending, and a central bank willing to back whatever is needed for social equity. It also has the world’s reserve currency – and with an 80% tax on crypto, it will stay that way.

Furthermore, recall the counterpart to a capital account surplus is a current account deficit. As such, if the US sees a lower capital surplus then it will get a lower current deficit too, and there are only a few ways this can *logically* work:

  • US unemployment will go up, reducing US demand,…which is possible given how radical these changes are, but also seems illogical when seeing huge Made-in-America stimulus packages for those with the highest marginal propensity to consume; or

  • We get more balanced US growth, and with more local, not foreign, production. In other words, stopping capital inflows into the US can act in the same way as a trade tariff.

Yes, this could be via a lower USD, forcing painful savings-investment imbalances back onto the rest of the world, including the EU, Japan, and China. Then again, given there will still be global demand for USD for trade and to service piles of Eurodollar debt, and there will be less opportunity to earn said USD by selling to the US, what do you think that says about where the USD could trade – and with no crypto rivals?

Now THAT’S escalation…in thinking – Happy Friday!

end

7. OIL ISSUES

 

8 EMERGING MARKET ISSUES

INDIA
 

END

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

Euro/USA 1.2065 UP .0051 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 RED  

USA/ YEN 107.72 DOWN 0.265 (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 1.3885  UP   0.0046  (Brexit March 29/ 2019/ARTICLE 50 SIGNED/BREXIT FEES WILL BE CAPPED/

USA/CAN 1.2481 DOWN .0022 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  FRIDAY morning in Europe, the Euro ROSE  BY 51 basis points, trading now ABOVE the important 1.08 level FALLING to 1.2005 Last night Shanghai COMPOSITE UP 9.05 PTS OR 0.26% 

//Hang Sang CLOSED UP 323.41 PTS OR 1.12%

/AUSTRALIA CLOSED UP 0.12% // EUROPEAN BOURSES OPENED ALL RED 

Trading from Europe and Asia

EUROPEAN BOURSES CLOSED ALL RED 

2/ CHINESE BOURSES / :Hang Sang UP 323.41 PTS OR 1.12%  

/SHANGHAI CLOSED UP 9.45 PTS OR 0.26% 

Australia BOURSE CLOSED UP 0.12%  

Nikkei (Japan) CLOSED DOWN 167.54  POINTS OR 0.57%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1792.00

silver:$26.28-

Early FRIDAY morning USA 10 year bond yr: 1.547% !!! DOWN 1 IN POINTS from THURSDAY’S night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 2.224 DOWN 1  IN BASIS POINTS from THURSDAY night.

USA dollar index early FRDSDAY morning: 90.94 DOWN 39 CENT(S) from THURSDAY’s close.

This ends early morning numbers FRIDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx6

And now your closing  FRIDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.40% DOWN 0  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +.07%  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 3 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: FALLS TO –.26% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.03% 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 FRIDAY

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

Euro/USA 1.2065   UP    .0051 or 51 basis points

USA/Japan: 107.98  DOWN .050 OR YEN UP 5  basis points/

Great Britain/USA 1.3843 UP .0005 POUND UP 5  BASIS POINTS)

Canadian dollar UP 5 basis points to 1.2497

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (UP).. 6.4954

THE USA/YUAN OFFSHORE:  6.750  (YUAN UP)..6.4905

TURKISH LIRA:  8.37  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.07%

Your closing 10 yr US bond yield DOWN 2 IN basis points from THURSDAY at 1.560 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 2.246 DOWN 2 in basis points on the day

Your closing USA dollar index, 91.07 DOWN 26  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 FRIDAY: 12:00 PM

London: CLOSED DOWN 2.95 PTS OR 0.62% 

 

German Dax :  CLOSED DOWN 41.12 PTS OR 0.27% 

 

Paris Cac CLOSED UP 9,67 PTS OR 0.15% 

 

Spain IBEX CLOSED UP  41.80  PTS OR  0.48%  

 

Italian MIB: CLOSED UP 24.94 PTS OR 0.10% 

 

WTI Oil price; 61.88 12:00  PM  EST

Brent Oil: 65.59 12:00 EST

USA /RUSSIAN /   RUBLE RISES:    75.03  THE CROSS  LOWER BY 0.36 RUBLES/DOLLAR (RUBLE HIGHER BY  36 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.26 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 : 62.13//

BRENT :  66.07

USA 10 YR BOND YIELD: … 1.558..up 1 basis points…

USA 30 YR BOND YIELD: 2.237 up 1 basis points..

EURO/USA 1.2097 (UP 83   BASIS POINTS)

USA/JAPANESE YEN:107.89 DOWN .095 (YEN UP 10 BASIS POINTS/..

USA DOLLAR INDEX: 90.82 DOWN 52 cent(s)/

The British pound at 4 pm   Britain Pound/USA:1.3880 UP 42  POINTS

the Turkish lira close: 8.39

the Russian rouble 74.97   UP 0.42 Roubles against the uSA dollar. (UP 42 BASIS POINTS)

Canadian dollar:  1.2474  UP  29 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.26%

The Dow closed up 227.59 POINTS OR 0.67%

NASDAQ closed up 179.08 POINTS OR 1.30%


VOLATILITY INDEX:  17.06 CLOSED down 1.65

LIBOR 3 MONTH DURATION: 0.175%//libor dropping like a stone

USA trading day in Graph Form

Stocks & Bonds Shrug Off Biden Battering, Dollar & Cryptos Tumble

 
FRIDAY, APR 23, 2021 – 04:00 PM

Today’s sudden panic-bid at the US cash open, dragged stocks back to unchanged-ish on the week (Small Caps outperformed, ending up around 1% on the week after being down 4% by Tuesday close)…

Recovering all of yesterday’s Biden Tax Plan losses, until the late-day tumble…

So, aside from paying away over 50% of your capital gains to fund gawd-knows-what social justice agenda, on the week, you get nothing too… and like it…

Nasdaq’s trading patterns this week were somewhat comical…

Healthcare stocks outperformed on the week as Energy stocks lagged…

Source: Bloomberg

Growth and Value stocks were unable to distinguish themselves this week, ramping back to unch today…

Source: Bloomberg

VIX found support each time it dropped below 17…

Treasuries ended the week practically unchanged after roundtripping up and down around 4bps either way on the week…

Source: Bloomberg

10Y has traded in a very tight range the last three days…

Source: Bloomberg

The dollar dived again this week – to its lowest since Feb – and we note an interesting pattern at the EU open where the dollar was dumped every day… This was the 3rd weekly drop in a row, the longest such losing streak since December

Source: Bloomberg

The Turkish Lira tumbled back near record lows after Biden announced he would call Armenian massacre a genocide…

Source: Bloomberg

Cryptos were down for the second week in a row with Ripple worst and Ethereum the bad horse in the glue factory…

Source: Bloomberg

Bitcoin broke back below $50k and made all the headlines but we note that this is the 4th such plunge the leading cryptocurrency has suffered in the last 8 months and each previous one has seen dip-buyers move in rapidly…

Source: Bloomberg

But by the end of the day, bitcoin was back above $50k…

Source: Bloomberg

Ether outperformed on the week, reaching a new record high before today’s tumble, but relative to bitcoin, it’s at its highest since Auguest 2018…

Source: Bloomberg

Crude was down on the week as copper rebounded, with PMs flat, after taking a hit today…

Gold futures failed to top $1800…

WTI ended the week on a higher note but down overall, closing around $62…

 

Finally, after this morning’s surge in PMIs, it is now clear that once again the world is awash in “hope” as ‘soft’ survey data is dramatically decoupling from ‘hard’ real economic data…

Source: Bloomberg

a)Market trading/LAST NIGHT/USA

b)MARKET TRADING/USA//THIS AFTERNOON

 
ii) Market data

New Home Sales Explode In March To Highest In 15 Years

 
FRIDAY, APR 23, 2021 – 10:05 AM

Unlike the disastrous drop (no rebound from February’s plunge) in existing home sales (to 7-month lows) in March, analysts expected new home sales to rebound aggressively from the weather-impacted 18.2% collapse in February, and it did. New Home Sales exploded 20.7% higher MoM in March. Thanks to the base effect, this means new home sales are up a stunning 66.8% from last March’s lockdown lows…

Source: Bloomberg

There were a number of significant revisions to historical data too (Dec from 919K to 949K, Jan from 948K to 1010K, Feb from 775K to 846K)…

The total new home sales SAAR surged back above the 1mm mark (1.021mm), the highest since August 2006

Source: Bloomberg

Notably, unlike soaring existing home prices, median new home price rose just 0.8% YoY to $330,800 (average selling price at $397,800).

New- and Existing-home prices haven’t been this close since 2005.

end

 

USA growing at fastest rate despite unprecedented supply chain disruptions and huge input costs.
(zerohedge)

US Manufacturing, Services PMIs Surge To Record Highs Amid “Unprecedented Supply Chain Disruptions”

 
FRIDAY, APR 23, 2021 – 09:53 AM

Despite sagging ‘hard’ data, ‘soft’ surveys of US Manufacturing and Services sectors have been resurgent amid stimulus hype, vaccination success, and some reopenings. After new cycle highs in March, preliminary April data was expected to surge even higher… and they did.

  • Markit US Manufacturing April Flash disappointed, printing 60.6 vs 61.0 expected but was higher vs March’s 59.1.

  • Markit US Services April Flash beat, printing 63.1 vs 61.5 expected and significantly higher vs March’s 60.4.

Both Manufacturing and Services PMIs are at record highs.

Source: Bloomberg

Unprecedented supply chain disruptions pushed input costs higher once again in April.

The US has once again pushed to the top of the global Composite PMI league – also a record high…

Source: Bloomberg

Commenting on the PMI data, Chris Williamson, Chief Business Economist at IHS Markit, said:

“The US economy is enjoying a strong start to the second quarter, firing on all cylinders as loosening virus restrictions, an impressive vaccine roll-out, a brighter outlook and stimulus measures all helped boost demand.

“The upturn is broad-based: the service sector is growing at the fastest rate recorded in almost 12 years of survey history, and manufacturers reported one of the strongest expansions seen over the past seven years. The latter was all the more impressive, as factories continued to be throttled by unprecedented supply chain delays, a consequence of which was a further steep rise in prices.

The worsening supply situation is a concern for the outlook, especially in relation to prices. Supply needs to improve to come into line with demand. But with record supply chain delays driving a rise in backlogs of uncompleted work of a magnitude not surpassed for over seven years, firms appear to be struggling to boost operating capacity in the near-term.”

end
 

iii) Important USA Economic Stories

iv) Swamp commentaries

The word “crisis” is banned from Politico when describing the crisis on the worder.

(zerohedge/Politico)

Politico Becomes Pravda: Use Of Word “Crisis” Banned When Describing Border Crisis

 
 
THURSDAY, APR 22, 2021 – 04:47 PM

Politico has turned narrative-shaping up to 11 with it’s latest decision to ban its journalists from using the word ‘crisis’ to describe the flood of illegal immigrants currently overwhelming US border detention facilities after President Biden essentially invited them with campaign promises followed by a flurry of Executive Orders on immigration which all but rolled out the red carpet.

According to an internal Politico memo written by deputy production director Maya Parthasarathy and obtained by the Washington Examinerjournalists are to: “Avoid referring to the present situation as a crisis, although we may quote others using that language while providing context. While the sharp increase in the arrival of unaccompanied minors is a problem for border officials, a political challenge for the Biden administration and a dire situation for many migrants who make the journey, it does not fit the dictionary definition of a crisis,” adding “If using the word ‘crisis,’ we need to ask of what and to whom.”

And while Biden himself used the word “crisis” when describing the border situation last week, the White House has repeatedly denied that the word applies – which means Politico is toeing the official party line regarding the border crisis.

Avoid emotive words like onslaught, tidal wave, flood, inundation, surge, invasion, army, march, sneak, and stealth,” the memo reads.

More via the Examiner:

Dictionary.com defines a crisis as “a condition of instability or danger, as in social, economic, political, or international affairs, leading to a decisive change.” The Cambridge English Dictionary describes a crisis as “a time of great disagreement, confusion or suffering.”

The White House has denied the word applies, but Biden and spokeswoman Jen Psaki have both used the word in unguarded moments, prompting walk-back efforts. Politico did not respond to a request for comment.

Border patrol officials logged over 14,000 unaccompanied minors in custody last month. The Department of Homeland Security estimates that roughly 117,000 migrant children will enter the country by the end of the year. For context, 80,000 unaccompanied minors entered through the southern border in all of 2019, when the media seemed to have no problem labeling the surge as a crisis.

After immense pressure from both Republicans and Democrats, Biden himself referred to the situation on the border as a ” crisis” earlier this month.

“We’re going to increase the number. The problem was that the refugee part was working on the crisis that ended up on the border with young people,” he said following a round of golf. “We couldn’t do two things at once, but now, we are going to increase the number.”

Psaki moved swiftly to soften her boss’s words.

“The president does not feel children coming to our border, seeking refuge from violence, economic hardships, and other dire circumstances, is a crisis,” she said when asked about his comments. “He does feel that the crisis in Central America, the direct circumstances that people are fleeing from, that that is a situation we need to spend our time, our effort on, and we need to address it if we are going to prevent more of an influx of migrants from coming in years to come.”

*  *  *

The report also notes that Politico has casually used the word crisis to describe ‘a wide array of other topics.’

Last October, for example, the outlet reported on the “crisis” of “empty retail space.”

Last June, there was a “police brutality crisis.”

They regularly report on the “climate crisis”

But more than 18,000 unaccompanied migrant children crammed into overflowing federal facilities – requiring the government to rent hotel rooms along the border – is not a crisis, according to the Biden administration and Politico – who going forward must avoid using terms “which could portray migrants as a negative, harmful influence” despite the fact that their presence is extremely ‘negative’ and ‘harmful’ to legally immigrated low-income workers who now have more people to compete with for a limited number of low-income jobs.

END

Police officer saves a girl’s life and others and yet media could not care less and blames the cop for killing the knife wielding victim

(zerohedge)

“She Was In Full Attack Mode…” – Neighbor Says Ohio Cop Saved Numerous Lives By Killing Knife-Wielding Teen

 
THURSDAY, APR 22, 2021 – 05:25 PM

Outrage over the shooting of 16-year-old Ma’Khia Bryant has intensified since her death on Tuesday, with activists denouncing it as yet another unjustified police killing, even as police bodycam video clearly shows the young woman raised her knife as if she were about to stab another young girl.

The bodycam footage, which was released by the Columbus PD just hours after the incident, has done little to quell the outrage, possibly because, instead of sharing the unvarnished footage with their audience, MSM outlets have instead engaged in deceptive editing, while the White House has laid it on thick with the virtue signaling.

But a neighbor who owns the home across the street from the spot where she was killed – reportedly right in front of a home owned by her foster parents – has come forward in an interview with the Columbus Dispatch to offer an eye-witness account portraying the shooting as potentially justified – or, at the very least, the result of an extremely difficult split-second decision made in a moment where multiple lives appeared to be in jeopardy.

Donavon Brinson, who recently bought the home from his father, who lived there for 14 years, said that he arrived home from running errands on Tuesday afternoon and saw a commotion among some girls outside.

“They were calling each other the B-word, so I figured it was just a girl fight,” Brinson said.

But when he stepped outside to walk his dog, Max, the situation had escalated. Shortly after he popped back inside, he heard four gunshots ring out across the street. And while his wife hit the floor, he immediately thought about the security camera installed outside his garage, which captured the fight.

After reviewing the footage, he told the newspaper that while what happened is unquestionably tragic, he doesn’t see how the officer involved could have made any other choice but to take action: “It was violent and all just happened so fast,” he said.

The footage from his security camera shows the scene at a much wider angle than the police body camera footage released by the CPD. In it, as many as 7 other young people were on or near the property when the attack occurred. Brinson, whose father also spoke with the Dispatch, said the video has been turned over to police. Readers can watch it below:

 

Another witness who spoke with the Dispatch, Ira Graham III, was working from home when the incident occurred. He works in registration at Ohio State University’s James Cancer Center and also is a photographer and videographer. He said that while he didn’t know Ma’Khia personally, he had sometimes seen her walking through the neighborhood.

“I believe in truth and facts. Video doesn’t lie,” he said. “She was in full attack mode.”

Bryant “was literally aiming a knife at this young lady,” Graham said of the female in pink. “She needed to be stopped at that point. That young lady’s life was at stake.”

Contacted by the Dispatch, Bryant’s foster mom, who hasn’t been identified in the report, said she was at work when the incident occurred. She declined to say anything else. Another witness who spoke with the Dispatch was seen leaving a bouquet of flowers at a makeshift memorial that sprung up at the spot where Bryant was shot. The 23-year-old young woman, who said she knew Bryant, was somewhat less sympathetic toward the police. She wondered why the cop couldn’t have used a taser. “He should have told her to put down the knife,” Taylor said.

In the video released by the CPD, the officer could be heard repeatedly shouting at Bryant to get down before firing off the shot.

end

BLM now claiming that communities are being terrorized at a greater rate under Biden than Trump

(zerohedge)

“You Read That Right”: BLM Says Communities Being “Terrorized” At Greater Rate Under Biden Than Trump

 
THURSDAY, APR 22, 2021 – 07:05 PM

On the evening of the Derek Chauvin murder trial verdict, a funny thing happened over at Black Lives Matter’s Twitter account.

Amidst a broader discussion (if you can call it that) about Biden’s first 100 days, the organization called for the Biden administration to end transferring military equipment to police officers across the country. The account cited the “military you see out on your streets ahead of the Chauvin verdict” as reasoning for their point, as if a police presence wouldn’t have been absolutely necessary in the wake of a “not guilty” verdict earlier this week. 

But then the official blue checkmarked Black Lives Matter Twitter account, which sports a profile photo of a banner that says “End White Supremacy”, made a startling claim: that the Biden administration was “sending more military equipment” to communities “than Trump did”.

“You read that right,” the account continues. “Our communities are being terrorized at a greater rate than they had been under Trump.” 

The same account was critical of comments made on the night of the Derek Chauvin verdict by House Speaker Nancy Pelosi, who said “Thank you George Floyd for sacrificing your life for justice” in her comments after the verdict in the Chauvin trial was released.

“This is so damn disrespectful,” the BLM account said of Pelosi’s comments. 

“George Floyd didn’t choose to die,” the Black Lives Matter account wrote, “He was murdered by a killer cop operating through white supremacy. There isn’t justice here.”

Leaving out the “white supremacy” argument – which we’re sure is appended to any argument that BLM tries to make – we actually agree with them on criticizing Pelosi’s comments, which we think offers some true insight into just how much black lives actually matter to her.

Regardless, the attack on the Biden administration for attempting to police the streets leading up to the verdict is yet another example that BLM’s demands are going to be insatiable, regardless of how much pandering any administration does for them. It also offers a glimpse into the true nature of the radical change that the group hopes to affect. 

end

What on earth are they afraid of? Arizona democrats file last minute lawsuit seeking to block 2020 election audi

Li// (Epoch Times)

Arizona Democrats File Last Minute Lawsuit Seeking To Block 2020 Election Audit

 
FRIDAY, APR 23, 2021 – 09:09 AM

Authored by Mimi Nguyen Li via The Epoch Times,

The Arizona Democratic Party filed a lawsuit on Thursday seeking to stop the state’s Senate from carrying out an audit of the 2020 election results in Maricopa County.

The complaint (pdf), filed in Maricopa County Superior Court, comes just before the audit is set to begin on Friday. In preparation, 2.1 million ballots, as well as voting equipment that includes 385 tabulators, were delivered to the Veterans Memorial Coliseum in Phoenix, the site of the planned audit.

An emergency court hearing has been scheduled for the case, CV2021-006646, at 11 a.m. on Friday.

The Arizona Democratic Party and Steve Gallardo, the sole Democrat on the five-member Maricopa County Board of Supervisors, argue in the lawsuit that the planned audit is in violation of “various statutory and Election Procedures Manual provisions.” (harvey:  ???) They allege that the planned audit lacks various safeguards and requirements are lacking to perform a secure and reliable audit, and as such, the planned audit “undermines the integrity and security” of the state’s elections and voter information.

Plaintiffs are seeking a restraining order and a preliminary and permanent injunction to stop the audit requested by the Republican-majority Senate leadership.

The lawsuit comes as Republicans introduced a bill late January to address legal issues outlined in the Democrats’ lawsuit. The bill is currently with the House after passing the state Senate in February.

The latest auditing efforts come after the Senate leadership issued subpoenas in mid-January to the Maricopa County Board of Supervisors seeking materials for a full audit of the 2020 general election. In response, county officials asked a court to declare that the subpoenas were unlawful and unenforceable. Maricopa County Superior Court Judge Timothy Thomason ruled in February that the subpoenas are valid, and that the Senate has “broad constitutional” oversight powers that allow it to carry out whatever election review it chooses.

Fight Over Disclosure

Democrats in the latest lawsuit argued that the private auditors and their agents “are not authorized to review confidential voter registration records” and “are not authorized to gain possession or control of voted early ballots,”citing state law. (Harvey: an audit?  that means you cannot audit any election?

In particular, the complaint notes that “certain parts of a voter’s registration records, including date of birth, signature, and country of birth, may not be viewed, accessed, reproduced, or disclosed to a member of the public who is not an authorized government official.” It also notes that “only election officials, postal workers, and certain family members and other authorized individuals may ‘gain possession or control’ of voted early ballots.”

The Democrats also allege that the private auditors “have not been appointed in writing or taken an oath required under [Elections Procedures Manual Chapter 10 Section 1A (pdf)] and thus are not authorized to touch any ballot, computer, or counting device.” They also allege that the private auditors “are not properly trained in signature verification.”

In a brief comment, Arizona Senate President Karen Fann, a Republican, said that the ballots are protected by bonded and certified 24-hour security forces, kept in locked cages and a public live stream is on 24 hours a day, reported The Associated Press.

The Democrat’s lawsuit comes at the same time that Republicans are trying to pass a bill that would address similar legal issues surrounding confidentiality and disclosure to facilitate the elections auditing process.

On Feb. 18, the state Senate passed a bill that would amend a portion of the state law such that county election equipment, systems and records, and other information that is under the control of county personnel “may not be deemed privileged information, confidential information, or other information protected from disclosure.”

It also subjects such records to a subpoena and stipulates that they “must be produced” and the legislature’s authority to conduct related probes “may not be infringed by any other law.”

The bill is currently held in the state House.

Back and Forth Allegations

Maricopa County Supervisor Gallardo wrote on Twitter late Thursday, “The sole reason for this lawsuit and injunctions is to protect the sanctity of the ballots, and more importantly, to preserve voters’ privacy from a sham audit that has been corrupted by agitators and conspiracy theorists.

“This corrupted process will not be transparent, dark money influencers have handed picked the folks to observe and witness the ‘audit’ that will be conducted by an uncertified and unqualified group,” Gallardo alleged.

The Arizona Senate Democrats released a statement in support of the suit. “It’s clear that this audit is no more than a temper tantrum from those still upset that they lost the election and it is deeply damaging to the integrity of our elections and our democracy,” their statement reads, in part.

President Joe Biden was the first Democratic presidential nominee to win Maricopa County, where Phoenix is located, in decades.

Kelli Ward, Chair of the Arizona Republican Party, questioned the Democrats’ move in a statement on Thursday. “The Democrats are STILL trying to stop the Maricopa County audit and defy the AZ Senate subpoena. What are they hiding? Hearing tomorrow on this ridiculous temporary restraining order,” she wrote on Twitter.

The Epoch Times has reached out to Senate President Fann for comment. Last month, she asserted that the audit would reassure voters that the 2020 results were accurate.

Need for Senate Audit?

Two separate forensic audits of the 2020 general election have been conducted by the Maricopa County Board of Supervisors. But Arizona state Sen. Warren Peterson, the Republican Chair of the Judiciary Committee, told Fox 10 in January that the county’s audit “will not prevent the Senate from doing their own audit.”

“My concern with the county audit is that the scope of the audit is an inch deep. With the limited scope they have asked to be audited, they are guaranteed to find nothing,” he said.

The Arizona Senate has hired four out-of-state firms to carry out the audit, which are Wake Technology Services, CyFIR, Digital Discovery, and Cyber Ninjas. Cyber Ninjas, a Florida-based cybersecurity company, was arranged to lead the audit.

The Arizona Senate said that its “broad and detailed” audit “will validate every area of the voting process” and includes, but is not limited to, scanning all the ballots, a full hand recount, auditing the voter registration and votes cast, the vote counts, and the electronic voting system.

The Senate said that its leadership will not be directly involved in the audit process to maintain integrity and transparency. A report of all the findings is expected after about 60 days.

The Maricopa County Board of Supervisors had previously resisted the Senate subpoenas and repeatedly maintained that there were no issues with the conduct of the 2020 election.

The GOP concerns come after controversy in December 2020, when former state Senate Judiciary Committee Chair Eddie Farnsworth, a Republican, issued two subpoenas after former President Donald Trump’s team presented allegations of fraud and other irregularities before members of the Arizona Legislature at an election integrity hearing on Nov. 30, 2020. One major allegation on the day came from Maricopa County GOP chairwoman Linda Brickman, who alleged that she personally observed votes for Trump being tallied as votes for Biden when input into the voting machines.

Farnworth’s subpoenas called for a scanned ballot audit and a full forensic audit of voting equipment and software used in the 2020 general election. The Maricopa County Board of Supervisors days later voted to file a complaint over the subpoenas.

The court later found the dispute was moot in light of the fact that the 2020 subpoenas were no longer enforceable. But the latest auditing efforts came as a result of new subpoenas issued in mid-January by Petersen and Fann.

end
THIS IS OBVIOUS !!
Watson/Summit News)

Alternate Juror On Chauvin Trial Says She Feared Riots, People Turning Up At Her Home

 
FRIDAY, APR 23, 2021 – 10:35 AM

Authored by Paul Joseph Watson via Summit News,

A woman who sat as an alternate juror on the Derek Chauvin trial told a local news station that she was concerned about “rioting and destruction” as well as people turning up at her house if they were angry at the verdict.

Lisa Christensen also revealed to KARE 11 how the riots that preceded the verdict were close to her house and that she routinely witnessed them after the trial had concluded for the day.

“When I came home, I could hear the helicopters flying over my house… I could hear the flash bangs going off,” Christensen said.

“If I stepped outside, I could see the smoke from the grenades. One day, the trial ran a little late, and I had trouble getting to my house, because the protesters were blocking the interstate, so I had to go way around.”

Christensen said she had no idea she would be dismissed by the judge and not be a part of deliberations, something that happened “right before the 12 jurors were sequestered.”

The alternate juror said she was disappointed to be dismissed and that she would have found Chauvin guilty if she had been part of the final 12 jurors.

Judging by Christensen’s remarks, that guilty verdict would clearly have been influenced not primarily by the evidence, but by the threat of mass rioting and threats to her own personal safety.

“I did not want to go through rioting and destruction again and I was concerned about people coming to my house if they were not happy with the verdict,” she said.

The comments clearly suggest that members of the jury were swayed by the threat of nationwide civil unrest, violence and looting that would have undoubtedly occurred had Chauvin escaped any of the charges.

“This is the clearest picture yet of the terroristic intimidation jurors faced to ensure Chauvin was found guilty in what was fundamentally a rigged show trial,” comments Chris Menahan.

“That the trial was not moved out of Minneapolis is a sick joke but since Charlottesville this has become the new normal.”

Other individuals who testified in defense of Chauvin also had their homes attacked before the jury was sent away to reach a verdict.

*  *  *

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

 
   
Putin to withdraw troops from Ukraine border, Russian agency reports
https://justthenews.com/world/putin-withdraw-troops-ukraine-border-russian-agency-reports

 

The number and types of assets left at ‘the front’ will reveal if the budding crisis is over or still pending.

US Initial Jobless Claims declined to 547k from 586k; 610k was expected.  The March LEI rose to 1.3% from -0.1%; 1.0% was consensus.  March Pending Home Sales declined 3.7% to 6.01m from 6.24m; 6.11m (-1.8%) was expected.  The Chicago Fed National Activity Index jumped to 1.71 from 1.2; 1.25 was consensus.

Existing home sales slow for second straight month, while median prices reach new high https://t.co/hTz2NKAcIV

Biden to Outline American Family Plan [More socialism] Next Week – NYT
Biden to Propose Higher Taxes on Rich to Fund Child Care [Higher taxes > mean tweets?] – NYT

Biden Will Seek Tax Increase on Rich to Fund Child Care and Education
The president’s American Family Plan, which remains in flux, does not currently include an effort to expand health coverage, as administration officials had previously planned…
     The next phase of President Biden’s $4 trillion push to overhaul the American economy will seek to raise taxes on millionaire investors… To offset that cost, Mr. Biden will propose several tax increases he included in his campaign’s “Build Back Better” agenda. That starts with raising the top marginal income tax rate to 39.6 percent from 37 percent… Biden would also raise taxes on capital gains… for people earning more than $1 million, effectively increasing the rate they pay on that income to 39.6 percent from 20 percent.
    The president will also propose eliminating a provision of the tax code that reduces taxes for wealthy heirs who sell assets they inherit, like art or property, that have gained value over time…
https://www.nytimes.com/2021/04/22/business/biden-taxes.html

@JulianMI2: In the last 40yrs, the widest spread between PPI and CPI has been 4.4%. Therefore, if the Kansas data is indicative and PPI is heading towards 10%, +5% CPI seems reasonable.
https://twitter.com/JulianMI2/status/1385257539898515460

Euro and U.S. dollar waffle as markets weigh ECB policy talk
The European Central kept its interest rate policy intact and left questions about how it will withdraw stimulus when the economy recovers… In the end, Merk said, “there was no big substance there.”…
https://www.reuters.com/business/euro-us-dollar-waffle-markets-weigh-ecb-policy-talk-2021-04-22/

ESMs and European stocks traded sideways, mostly in negative territory, from the European open until the tumbled three minutes before the NYSE open.  A bottom appeared at 10:02 ET.  As promised, traders of various classes eagerly bought the early NYSE decline.  The ensuing rally peaked just before 13:00 ET.

ESMs plunged on this: Biden to Propose Capital Gains Tax as High as 43.4% for Wealthy – BBG

Biden eyes capital gains hike to 43.4%; for NY could be 52.2%, CA could be 56.7% https://trib.al/W5BGiGU

Street and tech billionaires, who overwhelmingly supported and funded Biden, might be taxed at more than double the going 20% capital gains tax rate.  They can find solace in the fact that that their self-destructive support for The Big Guy at least rid social media of mean Trump tweets.  However, they will keep feeding the crocodile [radicals] in the futile hope that it will eat them last.  If the socialists that run Biden propose the repeal of ‘carried interest’, then private equity and hedge funds will realize that the crocodile is about to eat them!

The 31-handle ESM plunge on Biden’s tax hike plan occurred within 8 minutes.  But someone surfaced to drive ESMs higher.  The rally attempt failed within 3 minutes.  ESMs and stocks fell to new lows.  Another rally attempt materialized.  It was a more determined effort.  ESMs jumped 13 handles in 3 minutes.  Good thing there are no market dislocations.  Right, Jerome?

The rally progressed but suddenly, ESMs and stocks plunged anew and hit new lows.  The tumble hit a bottom near 14:00 ET.  The rally into the VIX Fix was due; it paused when a WH press conference began.

@charliespiering: [WH Press Sec.] Jen Psaki does not shoot down Bloomberg report on capital gains tax as high as 43.4 percent. “The president’s calculation is that we need to invest…”  “That can be on the backs of the wealthiest Americans who can afford it…”

Is it time for “Don’t blame me; I voted for the Mean Orangeman!” bumper stickers?
The afternoon rally restarted and inched higher on the front running for the expected last-hour upward manipulation.  When the final hour arrived, sellers appeared.  Who would save the traders that got long for the expected last-hour upward manipulation?  The suspense was chilling!  Buying finally appeared with 30 minutes remaining.  Would the manipulation last until the close?  More suspense!  Alas, the rally ended with 15 minutes remaining in the session.  The Big Guy ruined the day for bulls.

The Constitution and the District of Columbia
In The Federalist No. 43, James Madison explained the need for a “federal district,” sub­ject to Congress’s exclusive jurisdiction and sep­arate from the territory, and authority, of any single state:…
   Statehood is now the clear preference of District of Columbia voting-rights advocates, but the proposal has never excited much support in Congress and would, in any case, also require a constitutional amendment since an independent territory, subject to the ultimate authority of Congress, was a critical part of the Framers’ original design for an indestructible federal union of indestructible states.
https://www.heritage.org/the-constitution/report/the-constitution-and-the-district-columbia

A Constitutional Amendment needs 2/3 vote in both Houses of Congress, or by a constitutional convention called for by 2/3 of State legislatures.  In other words, the Dems’ Statehood for DC is yet another futile symbolic jester – and there are beaucoup jesters among Dems and Repubs these days.

After the close yesterday, Adj EPS of 1.39, 41.14 expected; and Adj Rev of $18.68B, $17.73B expected.
Intel forecast Q2 EPS of 1.05, 1.11 expected; and sales of $17.88B, $17.64B expected.  The worse than expected Q2 EPS trumped the good Q1 results.  INTC sank as much as 4% in after-hour trading.

The Fed balance for latest week: +$27,844B on the monetization of $26.807B of US Treasuries.
https://www.federalreserve.gov/releases/h41/current/

Mises Institute: At the Fed, It’s “A Tale of Two Diversities”  [Diversity for thee, but not for me]
https://mises.org/power-market/fed-its-tale-two-diversities

NBC Deceptively Edits 911 Call & Video from Fatal Police Shooting Involving Knife-Wielding Teen Girl – NBC News – which was forced to apologize in 2012 for deceptively editing the 911 phone call of George Zimmerman in the Trayvon Martin case to make him sound racist – has done it again…
   NBC News, however, continued peddling the ‘unarmed’ lie with a deceptive edit of the 911 call to remove a reference to the attempted stabbing, as well as the video – which NBC stops right before it’s apparent the teen is holding a knife…
https://www.zerohedge.com/political/nbc-deceptively-edits-911-call-video-fatal-police-shooting-involving-knife-wielding-teen

A different angle of the Columbus shooting shows the officer tried to break up the fight before he shot.
https://twitter.com/realArmandKlein/status/1385327127575375872

When Everything is Racist There’s No Room for Reason – Matt Brodsky op-ed in Newsweek
Progressives today demand a profound remaking of the country. In their regressive Orwellian worldview, anti-Americanism is the new patriotism. In their version of American democracy, big tech thought police substitute for the real police now being defunded in communities across America…
    For the Left, the connective tissue that runs through every issue is the noxious claim of “systemic racism.” It takes on many forms, such as critical race theory, intersectionality and the accusation that everything is a relic of the Jim Crow era. There is no debate or defense because the accusation is designed to skip the trial and move straight to sentencing
   Anti-Semitism is a real and growing threat. But the elected officials who most consistently attempt to brandish their anti-Semitism and anti-Zionism through legislation and as a part of their political platform are Democrats, who are being led by their progressive wing
https://www.newsweek.com/when-everything-racist-theres-no-room-reason-opinion-1584739

It’s Not a Race War. It’s Something Much Bigger
The Left wants a race war in America because they cannot otherwise win the ideological war they are waging.  The former is a cover for the latter…Outside of Ivy League faculty lounges, Marxism cannot be sold on its merits… Today’s Marxists’ ideological pursuit of tyrannical control transcends race, which is merely a stealth bomber in their fleet. This is not a race war. It’s something much bigger. https://amgreatness.com/2021/04/21/its-not-a-race-war-its-something-much-bigger/

As we keep harping, the urban black community is in a severe crisis.  Instead of Jared/Ivanka/Kanye’s crime bill, Trump should have proffered a “Manhattan Project” like plan to help black communities.

Wokism will worsen the urban black crisis: decrease police activity, which increases crime, which forces businesses to leave, which increases black worker and family flight, which increases urban blight.  These reactions are immutable.  They occurred in the late ‘60s and in recent decades.  In fact, during the ‘80s and ‘90s more blacks exited Chicago than any other demographic group.

In 1980, decades of black population growth in Chicago stopped and reversed. By 2016, Chicago’s black population had decreased by 350,000 from its peak level of nearly 1.2 million in 1980
https://www.npr.org/local/309/2020/01/30/801195537/report-links-chicago-s-black-population-loss-to-rising-inequality

BLM demonstrators storm Oklahoma house chamber over Republican-backed anti-protest bill to grant immunity to motorists who kill or injure rioters
https://www.dailymail.co.uk/news/article-9497989/Oklahoma-lawmakers-confronted-two-dozen-protesters.html

@charliekirk11: A BLM mob stormed the Oklahoma Capitol, causing lawmakers to go into lockdown and forcing police to clear the protestors out of the building. I wonder why this isn’t national news? Why isn’t the FBI tracking them down and interviewing their relatives? Where are the charges?

@charliekirk11: We still don’t know who shot Ashli Babbitt on January 6th. But the cop in Columbus who shot Ma’Khia Bryant is named within 24 hours.  So you shoot a Trump supporter, the “justice” system will protect youShoot a knife-wielding black girl, you get doxxed by LeBron James

@WhitlockJason: Unarmed woman climbing through window at the Capitol shot by police = good, got what she deserved. Armed woman attempting to stab another woman = bad, she’s a teenager. Corporate media/influencers playing a racial game on all of us. We’re pawns.

Jan. 6 defendants win unlikely Dem champions as they face harsh detainment – “Solitary confinement is a form of punishment that is cruel and psychologically damaging,” Sen. Elizabeth Warren said.  [Mitch McConnell and other craven Republicans remain uselessly silent!]
https://www.politico.com/news/2021/04/19/capitol-riot-defendants-warren-483125

@EmeraldRobinson: While Republicans at the January 6th protest are held in solitary confinement & denied bail – the Communists who riot in Portland are given community service. The GOP says nothing about this two-tier justice system because the GOP doesn’t protect its own voters.
    Here’s all you need to know about @LeaderMcConnell: he still supports Dr. Fauci. Which means he still supports lockdowns and masks and forcing vaccines on you. He’s part of the Great Reset too.
    The Great Reset: the large-scale elimination of small businesses in favor of large corporations engineered by government lobbyists.
    The key mistake of the Trump Administration is that Trump left the COVID task force to Mike Pence, who left it to Marc Short, who empowered Fauci & Birx. That’s how we ended up with the Bill Gates vaccination plan and the Great Reset.

DJT senior advisor Stephen Miller @StephenM: Biden’s vilification of the US (and law enforcement) as systemically racist (“stain on our nation’s soul”) is unimaginably destructive. It’s also the pretext for the Left’s entire agenda: youth indoctrination, desecration of history, CRT, open borders, defunding police, etc.  The left’s war on law enforcement will bring only tragedy & heartbreak. While wealthy progressives retreat further into their enclaves, the rest of the nation will be forced to endure the tidal surge in crime. African-American communities will be among the very hardest hit.  

The effects of Black Lives Matter protests – Research shows places with BLM protests from 2014 to 2019 saw a reduction in police homicides but an uptick in murders… roughly 300 fewer police homicides — in census places that saw BLM protests… Campbell’s research also indicates that these protests correlate with a 10 percent increase in murders in the areas that saw BLM protests. That means from 2014 to 2019, there were somewhere between 1,000 and 6,000 more homicides than would have been expected… https://www.vox.com/22360290/black-lives-matter-protest-crime-ferguson-effects-murder

2021 Fatal Police shooting through April 12: Fox News: White 109 (5 unarmed); Black 52 (3 unarmed)  https://twitter.com/cov_Gretchen/status/1385378074292899840/photo/1

Freedom is the right to tell people what they do not want to hear.” — George Orwell

George Floyd Autonomous Zone Issues ‘Rules for White People’
Area begins to resemble a religious cult encampment.  Apparently, baptisms, miracles and other spiritual events can be witnessed on a regular basis…
https://summit.news/2021/04/22/george-floyd-autonomous-zone-issues-rules-for-white-people/
BLM Protestors Act Like Bolsheviks, Yell at Teenagers Eating Ice Cream in Georgetown https://t.co/wWBDFiEd6X

Mom says she tried to cut 10-year-old son’s tongue off before shooting him dead https://trib.al/Kq4rjVf

The US has a mental health crisis – and/or an epidemic of evil.

Chris Hedges: The Unraveling of the American Empire
U.S. leadership has stumbled from one military debacle to another, a trajectory mirroring the sad finales of other historical imperial powers.
      Imperial ineptitude is matched by domestic ineptitude. The collapse of good government at home, with legislative, executive and judicial systems all seized by corporate power, ensures that the incompetent and the corrupt, those dedicated not to the national interest but to swelling the profits of the oligarchic elite, lead the country into a cul-de-sac…
     The two-decade-long wars in the Middle East, the greatest strategic blunder in American history, have only left in their wake one failed state after another. Yet, no one in the ruling class is held accountable…
      The Permanent War Economy, primarily to keep the American economy from collapsing
      The liberal interventionists, because they wrap themselves in high ideals, are responsible for numerous military and foreign policy debacles. The call by liberal interventionists such as Barack Obama, Hillary Clinton, Joe Biden, Susan Rice and Samantha Power to fund jihadists in Syria and depose Muammar Gaddafi in Libya rent these countries — as in Afghanistan and Iraq — into warring fiefdoms. The liberal interventionists are also the tip of the spear in the campaign to rachet up tensions with China and Russia…
     Our decades-long military fiascos, a feature of all late empires, are called “micro-militarism.”… The worse it gets at home the more the empire needs to fabricate enemies within and without. This is the real reason for the increase in tensions with Russia and China…
     Since March 16 the United States has had at least 45 mass shootings… These are the consequences of a deeply troubled society…
       The loss of the dollar as the global reserve currency will probably mark the final chapter of the American empire. In 2015, the dollar accounted for 90 percent of bilateral transactions between China and Russia, a percentage that has since fallen to about 50 percent
       Chris Hedges is a Pulitzer Prize–winning journalist who was a foreign correspondent for 15 years for The New York Times, where he served as the Middle East bureau chief and Balkan bureau chief for the paper. He previously worked overseas for The Dallas Morning News, The Christian Science Monitor and NPR. He is the host of the Emmy Award-nominated RT America show “On Contact.”
https://consortiumnews.com/2021/04/19/chris-hedges-the-unraveling-of-the-american-empire/

@greg_price11: 15-year-old and 13-year-old killed an uber eats driver in DC. 12-year-old shot and killed a 13-year-old in Capitol Heights. 13-year-old stabbed another 13-year-old to death in Cincy. 16-year-old killed by police while trying to stab someone.  All of that in the last 3 weeks

Biden’s border failure and the ongoing crisis made criminal cartels $14,000,000 each day in February.   https://t.co/GYKfdh43Kd

NASA extracts breathable oxygen from thin Martian air https://trib.al/wLFA4CA 

end

Let’s wrap up the week with this offering courtesy of Greg Hunter of USAWatchdog

(Greg Hunter)

 

Chauvin Appeal, 2020 Election Audits, Masks Don’t Work

By Greg Hunter’s USAWatchdog.com (WNW 476 4.22.2021)

It looks like Minneapolis Police Officer Derek Chauvin will get an appeal on the murder conviction of George Floyd.  You can thank VP Biden and Maxine Waters for that.  They made negative and violent public statements that affected the jury voting to convict Chauvin even though the evidence showed no crime was committed.  It’s textbook jury tampering on a huge scale.  Famed Law Professor Alan Dershowitz said, “They didn’t put a thumb on the scale against Chauvin, they put an elbow on it.”  It’s not over.

Looks like the 2020 Election is finally going to be hand audited in Arizona after a very long and difficult legal battle.  Georgia is not far behind, and there is another audit coming soon in New Hampshire.  What happens if the Arizona audit uncovers massive fraudulent ballots for Democrats?  Biden may still be in the White House, but does freshman Senator Mike Kelly get to keep his seat if election and voter fraud got him in?  The audit will take 30 days or less, and then we will know.  It’s already been shown that fraud was rampant across the country, especially in key states like Arizona.

Face masks to fight CV19 don’t work.  Don’t take my word for it.  This is according to a new study by Stanford University and released by the National Institute for Health (NIH).  Not only do face masks not work to stop the spread of the virus, but wearing face masks can also cause health problems, and in some cases, even death according to the Stanford study.  This is yet another Covid lie perpetrated on the public for more than a year.  You can add it to the list of Covid lies to scare and control the public.

Join Greg Hunter of USAWatchdog.com as he talks about these stories and more in the Weekly News Wrap-Up for 4.23.2021.

(To Donate to USAWatchdog.com Click Here)

 

After the Wrap-Up:

end

I WILL SEE YOU MONDAY NIGHT

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