JAN 4/2020//GOLD ROSE UP $14.00 TO $1814.60//SILVER ADVANCED 21 CENTS TO $23.04//GOLD STANDING AT THE COMEX ADVANCES BY A SMALL 200 OZ TO 3.7480//SILVER ADVANCES TO 10.350 MILLION OZ//COVID COMMENTARIES//VACCINE MANDATE UPDATE//VACCINE IMPACT//RECORD NUMBER OF USA WORKERS QUIT THEIR JOB//BIG HIT IN USA MANUFACTURING//SWAMP STORIES FOR YOU TONIGHT//

GOLD; UP $14.00 to $1814.60

SILVER: $23.04 UP 21 CENTS

ACCESS MARKET:

GOLD $1814.50

SILVER: $23.04

..  OTC and London expire tomorrow Dec 31. Big question: will the crooks raid on first day notice?

Bitcoin:  morning price: 46,126 DOWN 212

Bitcoin: afternoon price: 46,110 DOWN $238

Platinum price: closing UP $17.85 to $978.30

Palladium price; closing UP  $43.15  at 1871.65

END

end

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COMEX//NOTICES FILED

EXCHANGE: COMEX
CONTRACT: JANUARY 2022 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,799.400000000 USD
INTENT DATE: 01/03/2022 DELIVERY DATE: 01/05/2022
FIRM ORG FIRM NAME ISSUED STOPPED


363 H WELLS FARGO SEC 3
435 H SCOTIA CAPITAL 13
624 H BOFA SECURITIES 23
661 C JP MORGAN 7
737 C ADVANTAGE 47 5
800 C MAREX SPEC 7 3


TOTAL: 54 54
MONTH TO DATE: 1,151

NUMBER OF NOTICES FILED TODAY FOR  JAN. CONTRACT: 54 NOTICE(S) FOR 5400 OZ  (0.1679  TONNES)

total notices so far:  1151 contracts for 115,100 oz (3.6800 tonnes)

SILVER NOTICES:

13 NOTICE(S) FILED TODAY FOR  65,000   OZ/

total number of notices filed so far this month 1569  :  for 7.845,000  oz

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD

WITH GOLD UP $14.00 TO $1814.60

WITH RESPECT TO GLD WITHDRAWALS:  (OVER THE PAST FEW MONTHS) A HUGE DEPOSIT OF 4.65 TONNES INTO THE GLD//

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

ALSO INVESTORS SWITCHING TO SPROTT PHYSICAL  (phys) INSTEAD OF THE FRAUDULENT GLD//

CLOSING INVENTORY: 980.31 TONNES/

Silver//SLV

WITH NO SILVER AROUND AND SILVER UP 21 CENTS:/:NO CHANGES IN SILVER INVENTORY

AT THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

CLOSING INVENTORY SLV/ TONIGHT: 530.838 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE


SILVER COMEX OI FELL BY A  STRONG 1158 CONTRACTS TO 138,995  AND RESTS FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020.. WITH THE  $0.45 LOSS IN SILVER PRICING AT THE COMEX ON MONDAY.  OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.45) AND WERE  SUCCESSFUL IN KNOCKING OUT SOME SILVER LONGS  AS WE HAD A STRONG LOSS OF 763 CONTRACTS ON OUR TWO EXCHANGES .

WE  MUST HAVE HAD: 
I) HUGE BANKER SHORT COVERING AS THEY ARE VERY ANXIOUS TO GET OUT OF DODGE!!/. II)WE ALSO HAD  SOME  REDDIT RAPTOR BUYING//.   iii)  A SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A HUGE INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 10.505 MILLION OZ FOLLOWED BY TODAY’S 10,000 OZ QUEUE JUMP       V) STRONG SIZED COMEX OI LOSS.

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: 


THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI SILVER TODAY: CONTRACTS  -238

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS  JAN. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF JAN: 

TOTAL CONTACTS for 2 days, total  contracts: 300 or …average per day:  695 contracts or 3.475 million oz  OR 1.7375 MILLION OZ PER DAY.

TOTAL NO OF OZ UNDERGOING EFP TO LONDON 695 CONTRACTS X 5,000 PER CONTRACT:

EQUATES TO: 3.475 MILLION OZ

.

LAST 8 MONTHS TOTAL EFP CONTRACTS ISSUED  IN MILLIONS OF OZ:

MAY 137.83 MILLION

JUNE 149.91 MILLION OZ

JULY 129.445 MILLION OZ

AUGUST: MILLION OZ 140.120 

SEPT. 28.230 MILLION OZ//

OCT:  94.595 MILLION OZ

NOV: 131.925 MILLION OZ

DEC: 100.615 MILLION OZ 

RESULT: WE HAD A STRONG SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1158 WITH OUR 45 CENT LOSS SILVER PRICING AT THE COMEX// MONDAY  THE CME NOTIFIED US THAT WE HAD A  SMALL SIZED EFP ISSUANCE OF  395 CONTRACTS( 395 CONTRACTS ISSUED FOR MAR AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS    THE DOMINANT FEATURE TODAY:/ AS WELL AS TODAY /HUGE BANKER SHORT COVERING AS THEY GET OUT OF DODGE//// WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR JAN OF 10.505 MILLION OZ FOLLOWED BY TODAY’S 10,000 OZ EFP TO LONDON//NEW STANDING 10.350 MILLION OZ//  .. WE HAD A STRONG SIZED LOSS OF 763 OI CONTRACTS ON THE TWO EXCHANGES FOR 3.815 MILLION OZ//

WE HAD 13 NOTICES FILED TODAY FOR 65,000 OZ

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A GOOD SIZED 4692 TO 507,899 , AND CLOSER TO  OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: -2227  CONTRACTS

.

THE GOOD SIZED DECREASE IN COMEX OI CAME WITH OUR LOSS IN PRICE OF $26.70//COMEX GOLD TRADING/MONDAY/.AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION  AS THE TOTAL LOSS ON OUR TWO EXCHANGES TOTALLED A SMALL SIZED 1485 CONTRACTS… 

WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR JAN AT 3.5614 TONNES FOLLOWED BY TODAY’S 200 OZ QUEUE JUMP//NEW STANDING: 3.7480 TONNES      

YET ALL OF..THIS HAPPENED WITH OUR LOSS IN PRICE OF $26.70 WITH RESPECT TO MONDAY’S TRADING

WE HAD  A SMALL SIZED LOSS OF 1485  OI CONTRACTS (4.618 PAPER TONNES) ON OUR TWO EXCHANGES

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALLED A FAIR SIZED 3207 CONTRACTS:

FOR FEB 3207  ALL OTHER MONTHS ZERO//TOTAL: 3207 

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 507,899.

IN ESSENCE WE HAVE A  GOOD SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1485, WITH 4692 CONTRACTS DECREASED AT THE COMEX AND 3207 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS ON THE TWO EXCHANGES OF 1485 CONTRACTS OR 4.618 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3207) ACCOMPANYING THE GOOD SIZED LOSS IN COMEX OI (4692): TOTAL LOSS IN THE TWO EXCHANGES 1485 CONTRACTS. WE NO DOUBT HAD 1) HUGE BANKER SHORT COVERING ,2.) HUGE INITIAL STANDING AT THE GOLD COMEX FOR JAN. AT 3.7262 TONNES//FOLLOWED BY TODAY’S 200 OZ QUEUE JUMP.  3)ZERO LONG LIQUIDATION,4)  GOOD SIZED COMEX OI. LOSS 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL

SPREADING OPERATIONS

(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW ACTIVE FRONT MONTH OF FEB.WE ARE NOW INTO THE SPREADING OPERATION OF GOLD

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF JAN HEADING TOWARDS THE  ACTIVE DELIVERY MONTH OF FEB, FOR GOLD:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (FEB), 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 IN 2021 INCLUDING TODAY

JAN

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JAN : 8557 CONTRACTS OR 855,700 oz OR 26.61  TONNES (2 TRADING DAY(S) AND THUS AVERAGING: 4278 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 2 TRADING DAY(S) IN  TONNES: 26.61 TONNES

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

THUS EFP TRANSFERS REPRESENTS  26.61/3550 x 100% TONNES  0.748% 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/

APRIL:      189..44 TONNES  ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      247.54 TONNES (FINAL)

JULY:        188.73 TONNES FINAL

AUGUST:   217.89 TONNES FINAL ISSUANCE.

SEPT          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

NOV:           312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP

DEC.           145.12 TONNES//INITIAL ISSUANCE// 

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

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

1.Today, we had the open interest at the comex, in SILVER, FELL BY A STRONG SIZED 1158 CONTRACTS TO 138,995  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  4 1/2 YEARS AGO.  

EFP ISSUANCE 395 CONTRACTS

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

MAR 395  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  395 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 902 CONTRACTS AND ADD TO THE 395 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A STRONG SIZED LOSS OF 763 OPEN INTEREST CONTRACT FROM OUR TWO EXCHANGES.

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 3.815 MILLION  OZ, 

OCCURRED WITH OUR $0.45 LOSS IN PRICE.

OUTLINE FOR TODAY’S COMMENTARY 

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

2 ) Gold/silver trading overnight Europe,

(Peter Schiff,

3. Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com,

3. ASIAN AFFAIRS

i)TUESDAY MORNING MONDAY  NIGHT

SHANGHAI CLOSED DOWN 7.45 PTS OR .20%      //Hang Sang CLOSED UP 15.09 PTS OR 0.06% /The Nikkei closed UP 510.05 PTS OR  1.77%      //Australia’s all ordinaires CLOSED UP 1.90%  /Chinese yuan (ONSHORE) closed DOWN 6.3768    /Oil UP 76.48 dollars per barrel for WTI and UP TO 79.58 for Brent. Stocks in Europe OPENED  ALL GREEN    //  ONSHORE YUAN CLOSED DOWN  AGAINST THE DOLLAR AT 6.3768. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3795: /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%

A)NORTH KOREA//USA/OUTLINE

b) REPORT ON JAPAN

OUTLINE

3 C CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A GOOD SIZED 4692 CONTRACTS  AND 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 COMEX DECREASE OCCURRED WITH OUR LOSS OF $26.70 IN GOLD PRICING MONDAY’S COMEX TRADING. WE ALSO HAD A FAIR EFP (2675 CONTRACTS). . THEY WERE PAID HANDSOMELY  NOT TO TAKE DELIVERY AT THE COMEX AND SETTLE FOR CASH. LOOKS LIKE OUR BANKERS ARE FINALLY BAILING OUT

WE NORMALLY HAVE 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. IT SEEMS THAT ARE BANKERS FRIENDS ARE EXERCISING EFP’S FROM LONDON AND NOW THEY ARE LOATHE TO ISSUE NEW ONES.

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW MOVING TO THE  NON ACTIVE DELIVERY MONTH OF JAN..  THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS 3207 EFP CONTRACTS WERE ISSUED:  ;: ,  DEC  :  0  & FEB. 3207 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  3207 CONTRACTS 

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

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A SMALL SIZED 1485  TOTAL CONTRACTS IN THAT 3207 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A GOOD SIZED   COMEX OI LOSS OF 4692  CONTRACTS..

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR JAN   (3.7262),

 HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 12 MONTHS OF 2021:

DEC 2021: 112.217 TONNES

NOV.  8.074 TONNES

OCT.    57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY: 7.2814 TONNES

JUNE:  72.289 TONNES

MAY 5.77 TONNES

APRIL  95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL SO FAR THIS YEAR (JAN- DEC): 601.213 TONNES

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $26.70)

AND THEY WERE  SUCCESSFUL IN FLEECING SOME  LONGS AS THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 4.618 TONNES, ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR JAN (3.7262 TONNES)…

WE HAD – 1158 CONTRACTS REMOVED FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT

NET LOSS ON THE TWO EXCHANGES 1485 CONTRACTS OR 148,500 OZ OR 4.618 TONNES

Estimated gold volume today: 173,906 extremely poor//

Confirmed volume on Friday: 181,881 contracts extremely poor

/2021 INITIAL STANDINGS FOR DEC COMEX GOLD  

Gold
GoldOunces
Withdrawals from Dealers Inventory in oznil oz
Withdrawals from Customer Inventory in oz 187,183.130 ozBRINKS 5822 kilobars                                                                                                                            
Deposit to the Dealer Inventory in oznilOZ            
Deposits to the Customer Inventory, in oz      32,794.020 ozBrinks1020 kilobars                                                
No of oz served (contracts) today55  notice(s)5400 OZ0.1679 TONNES
No of oz to be served (notices)45 contracts  4500 oz 0.1399 TONNES  
Total monthly oz gold served (contracts) so far this month1151 notices 115100 OZ3.5800 TONNES  
Total accumulative withdrawals of gold from the Dealers inventory this monthNIL oz
Total accumulative withdrawal of gold from the Customer inventory this monthxxx oz

INITIAL STANDINGS FOR JAN ’22 COMEX GOLD 

JAN 4

For today:

No dealer deposit 0

No dealer withdrawal 0

1 customer deposit:

i) Into Brinks:  32,794.020oz (1020 kilobars)

1 customer withdrawal

i) out of Brinks:  187,183.130 oz  (5822 kilobarrs)

ADJUSTMENTS 0 

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JANUARY.

For the front month of JANUARY we have an oi of 99 stand for JANUARY losing 54 contracts.  We had 52 notices filed on Monday, so we gained 2 contracts or an additional 200 oz will stand for

gold in this very non active delivery month of January.

FEBRUARY LOST 8562 CONTRACTS TO 373,704

March has initiated another 6 contracts to stand at 17..

We had 54 notice(s) filed today for 5400  oz FOR THE JAN 2022 CONTRACT MONTH


Today, 0 notice(s) were issued from J.P.Morgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 54  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and  7 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0  notice(s) received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the JAN /2021. contract month, 

we take the total number of notices filed so far for the month (1151) x 100 oz , to which we add the difference between the open interest for the front month of  (JAN: 99 CONTRACTS ) minus the number of notices served upon today  54 x 100 oz per contract equals 120,500 OZ  OR 3.7480 TONNES the number of TONNES standing in this NON active month of JAN.  

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

No of notices filed so far (1151) x 100 oz+   (99)  OI for the front month minus the number of notices served upon today (54} x 100 oz} which equals 119,800 oz standing OR 3.7480 TONNES in this NON active delivery month of JAN. 

We gained 53 contracts or an additional  5300 oz of gold will stand for metal on this side of the pond.

TOTAL COMEX GOLD STANDING:  3.7280 TONNES  (VERY STRONG FOR A JANUARY DELIVERY MONTH)

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

206,468.649, oz NOW PLEDGED /HSBC  6.42 TONNES

174,041.813 PLEDGED  MANFRA 5.41 TONNES

54,339.114oz PLEDGED JPMorgan no 1  1.690

288,481,604, oz  JPM No 2  8.97 TONNES

698,821.330 oz pledged June 12/2020 Brinks/27,96 TONNES

12,244.444 oz International Delaware:  0..3808 tonne

Loomis: 18,615.429 oz

total pledged gold:  1,653,017.372oz                                     51.42 tonnes

TOTAL REGISTERED AND ELIZ GOLD AT THE COMEX: 33,650,817.391 OZ (1046.68 TONNES)

TOTAL ELIGIBLE GOLD: 15,971,223.687 OZ (496.77 tonnes)

TOTAL OF ALL REGISTERED GOLD: 17,679,593.104 OZ  (549.909 tonnes)

REGISTERED GOLD THAT CAN BE SERVED UPON: 16,026,574,0 OZ (REG GOLD- PLEDGED GOLD)  498.49 tonnes

END

JANUARY 2022 CONTRACT MONTH

And now for the wild silver comex results

INITIAL STANDING FOR SILVER//JAN 4

SilverOunces
Withdrawals from Dealers InventoryNIL oz
Withdrawals from Customer Inventory302,640,220  oz CNT
                                                                                                                       
Deposits to the Dealer InventorynilOZ                   
Deposits to the Customer Inventorynil oz                                                                                   
No of oz served today (contracts)13 CONTRACT(S)65,000  OZ) 
No of oz to be served (notices)501 contracts (2,505,000 oz)
Total monthly oz silver served (contracts)1569 contracts 7,845,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this monthNIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

I

And now for the wild silver comex results

we had 0 deposits into the dealer

total dealer deposits:  nil       oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

We had 0 deposit to the customer account:

JPMorgan has a total silver weight: 184.663 million oz/355.703 million =51.89% of comex 

ii) Comex withdrawals:

a)  out of CNT:  302,649,220 oz

total withdrawal 302,649.220 oz

we had 1 adjustments dealer to customer:1) Brinks  205,224.770 oz

the silver comex is in stress!

TOTAL REGISTERED SILVER: 81.956 MILLION OZ

TOTAL REG + ELIG. 355.671 MILLION OZ

TOTAL NO OF CONTRACTS SERVED UPON THIS MONTH: 9019 CONTRACTS FOR 45,095,000 OZ

CALCULATION OF SILVER OZ STANDING FOR DECEMBER

JANUARY LOST1587 CONTRACTS TO STAND AT 514

FEBRUARY GAINED 2 CONTRACTS TO STAND AT 298

MARCH: GAINED 1097 CONTRACTS TO 116,950  

NUMBER OF NOTICES FILED TODAY: 13 NOTICES OR 65,000 OZ

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

silver open interest data:

Total oi for the silver complex: 138,995 contracts LOSING 1158 contracts on the day

FRONT MONTH OF JAN//2022 OI: 514 CONTRACTS LOSING 0 contracts on the day

We had 2 notices filed on Monday so we GAINED 2 contracts

TOTAL NO OF CONTRACTS SERVED UPON THIS MONTH: 1556 CONTRACTS FOR 7,780,000 OZ

FOR FEB WE HAD A GAIN OF 44 CONTRACTS UP TO 342

FOR MARCH WE HAD A LOSS OF 1239 CONTRACTS DOWN TO 115,545 CONTRACTS.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 13

Comex volumes: 44,840 poor//despite the raid (est. today)

Comex volume: confirmed YESTERDAY: 48,848 contracts (poor)

To calculate the number of silver ounces that will stand for delivery in JANUARY. we take the total number of notices filed for the month so far at  1569 x 5,000 oz =. 7,845,000 oz 

to which we add the difference between the open interest for the front month of JAN (514) and the number of notices served upon today 13 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the JAN./2021 contract month: 1569 (notices served so far) x 5000 oz + OI for front month of JAN (514)  – number of notices served upon today (13) x 5000 oz of silver standing for the JAN contract month equates 10,350,000 oz. .

We gained 2 contracts or an additional 10,000 oz will stand for delivery on this side of the pond.

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

END

GLD AND SLV INVENTORY LEVELS:

GLD

JAN 3/WITH GOLD DOWN $26.70: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 975.66 TONNES

DEC 31/WITH GOLD UP $14.05 : NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 975.66 TONNES

DEC 30/WITH GOLD UP $7.75 NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 975.66 TONNES

DEC 29/WITH GOLD DOWN $5.00 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.03 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 975.66 TONNES

DEC 28/WITH GOLD UP $2.00 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 973.63 TONNES 

DEC 27/WITH GOLD DOWN $2.05: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 973.63 TONNES.

DEC 23/WITH GOLD UP $9.85 TODAY//A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.94 TONNES FROM THE GLD/// INVENTORY RESTS AT 973.63 TONNES

DEC 22/WITH GOLD UP $12.85 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 978.57 TONNES

DEC 21/WITH GOLD DOWN $7.05 TODAY, NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 978.57 TONNES

DEC 20/WITH GOLD DOWN $9.65 TODAY; A BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.37 TONNES INTO THE GLD///INVENTORY RESTS AT 977.20 TONNES

DEC 17/WITH GOLD UP $7.05 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 977.20 TONNES

DEC 16/WITH GOLD UP $33.05TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.4 TONNES FROM THE GLD////INVENTORY REST AT: 977.20 TONNES

DEC15/WITH GOLD DOWN $7.80 TODAY/ A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.04 TONNES FROM THE GLD////INVENTORY RESTS AT 980.60 TONNES.

DEC 14/WITH GOLD DOWN $18.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 982.64 TONNES

DEC 13/WITH GOLD UP $3.20 TODAY/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 982.64 TONNES

DEC 10.WITH GOLD UP $7.30 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 982.64 TONNES

DEC 9/WITH GOLD DOWN $9.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 982.64.

DEC 8/WITH GOLD UP $5.50 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 984.38 TONNES

DEC 7/WITH GOLD UP $5.15 TODAY; A HUGE  CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.74 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 984.38 TONNES

DEC 6/WITH GOLD DOWN $3.90 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 986.17 TONNES//

DEC 3/WITH GOLD UP $20.35 TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.85 TONNES FROM THE GLD///INVENTORY RESTS AT 986.17 TONNES

DEC 2/WITH GOLD DOWN $19.80 TODAY; A HUGE  CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.83 TONNES FROM THE GLD///INVENTORY RESTS AT 990.82 TONNES

DEC 1/WITH GOLD UP $7.05 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 992.85 TONNES

NOV 30/WITH GOLD DOWN $8.70 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESS AT 992.85 TONNES.

SLV

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

JAN 4/WITH SILVER UP 21 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 530.838 MILLION OZ//

JAN 3/WITH SILVER DOWN 45 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.219 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 530.838 MILLION OZ//

DEC 31/WITH SILVER UP 29 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 533.057 MILLION OZ//

DEC30/WITH SILVER UP 14 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A HUGE WITHDRAWAL OF 4.624 MILLILON OZ FROM THE SLV.//INVENTORY RESTS AT 533.057 MILLION OZ//

DEC 29/WITH SILVER DOWN 22 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 537.681 MILLION OZ/

DEC 28/WITH SILVER UP 9 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.682 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 537.681 MILLION OZ//

DEC 27/WITH SILVER UP 6 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 537.681

DEC 23/WITH SILVER UP 19 CENTS TODAY:A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.202 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 537.681 MILLION OZ//

DEC 22/WITH SILVER UP 29 CENTS TODAY; A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.202 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 538.883 MILLION OZ/

DEC 21/WITH SILVER UP 19 CENTS: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.728 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 540.085 MILLION OZ

DEC 20/WITH SILVER DOWN 22 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 538.282 MILLION OZ

DEC 17/WITH SILVER UP 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 538.282 MILLION OZ//

DEC 16/WITH SILVER UP 91 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV// A WITHDRAWAL OF 3.33 MILLION OZ FROM THE SLV//INVENTORY REST AT 538.282 MILLION OZ

DEC  15WITH SILVER DOWN 38 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 2.48 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 541.612 MILLION OZ

DEC 14/WITH SILVER DOWN 38 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 543.092 MILLION OZ

DEC 13/WITH SILVER UP 11 CENTS TODAY; A HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 3.561 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 543.092 MILLION OZ//

DEC 10.WITH SILVER UP 19 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 546.653 MILLION OZ..

DEC 9/WITH SILVER DOWN 43 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV// A DEPOSIT OF 2.96 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 546.653 MILLION OZ/

DEC 8/WITH SILVER DOWN 7 CENTS TODAY; NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 543.693 MILLION OZ///

DEC 7/WITH SILVER UP 24 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 543.693 MILLION OZ..

DEC 6/WITH SILVER DOWN 25 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.110 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 543.693 MILLION OZ//

DEC 3/WITH SILVER UP 21  CENTS TODAY; A BIG CHANGE IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 3.199 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 544.803 MILLION OZ//

DEC 2/WITH SILVER DOWN 6 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 548.002 MILLION OZ.

DECM 1/WITH SILVER DOWN 44 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 740,000 OZ FROM THE SLV////INVENTORY RESTS AT 548.002 MILLION OZ//

NOV 30/WITH SILVER DOWN 3 CENTS TODAY; A SMALL CHANGES IN SILVER INVENTORY AT THE SLV// A WITHDRAWAL OF .555 MILLION OZ FORM THE SLV//INVENTORY RESTS AT 548.742 MILLION OZ///

CLOSING INVENTORY:  530.838 MILLION OZ//

PHYSICAL GOLD/SILVER STORIES

PETER SCHIFF

Schiff: 2021 Was A Year Of “Peak Speculation”

 TUESDAY, JAN 04, 2022 – 12:20 PM

Via SchiffGold.com,

As 2021 goes into the history books, Peter Schiff looks back over what he calls “a year of peak speculation.”

Of course, the big story of the year was inflation.

A lot of the things Peter has been predicting came to pass in 2021. But it was a frustrating year for like-minded investors because the markets didn’t respond as you would expect them to. Even with the highest inflation in 40 years, gold was rangebound most of 2021 in anticipation of monetary tightening. Peter said given what happened, you would have expected a down year for the dollar and an up-year for gold. Instead, we got the reverse. The dollar gained ground.

Now, of course, the dollar didn’t gain purchasing power. The dollar lost a lot of purchasing power. That’s obvious. But on a relative basis against other fiat currencies, the dollar appreciated. The price of gold also dropped. I mean, it wasn’t a collapse, but still gold was down about 5% on the year.”

Peter said even with the dip last year, $1,800 is a good base from which to build a rather spectacular rally.

Of course, the real story of 2021 was inflation. It’s not just a story covered by the business networks. Everybody is talking about rising prices today. But if you turn the clock back to 2020, nobody was worried about inflation.

I mean, nobody other than me and maybe a few other people — lone voices crying in the wilderness. But the vast majority of people, including the central bankers, were actually worried that we didn’t have enough inflation. They were worried about a lack of inflation and they were doing everything they could to create more inflation, especially in the aftermath of COVID.”

The central bank stepped on the gas and flooded the world with cash so people would keep spending. Meanwhile, the pundits only focused on the demand side. The mainstream ignored the obvious consequences of the economy basically shutting down.

If people aren’t going to work, they’re not producing stuff. And if people aren’t producing stuff, well, now there’s a shortage of stuff.”

But there was no corresponding drop in demand. Everybody had their pockets stuffed full of stimulus money.

In aggregate, consumers were spending a lot more during the pandemic than they spent before the pandemic. So, what happened is we had an increase in demand. At the same time, we had a decrease in supply. Now, you don’t have to be a PhD in economics to understand what that’s going to do to prices. … All you need is a brain and some common sense to realize that if demand goes up and supply goes down, price is going to go way up. And that is exactly what happened in 2021.”

With supply dropping, we needed to demand to go down — even if it resulted in a recession. Instead, the government made things worse.

Instead of people reducing their consumption along with their production, they wanted to consume more. They were spending more because of the asinine monetary and fiscal stimulus that took place during the pandemic.”

At first, the Fed said there wasn’t any inflation to worry about. Then when it reared its head, it insisted that inflation was “transitory.” Finally, the Fed pivoted again and conceded that inflation isn’t transitory. But the central bank still claims to be confident it can solve the problem by speeding up its taper and interest rate hikes a little bit. Of course, it won’t. In order to fight inflation, the Fed needs to drive real interest rates above the rate of inflation. It can’t do that without collapsing the economy which is predicated on easy money and borrowing.

Peter said it’s extremely frustrating that he was right about inflation and that it is a much bigger problem than the government admits, we haven’t seen the results you would have expected in the dollar and in gold.

The reason that we haven’t seen this is because the markets still believe the Fed and they are discounting into the exchange rate of the dollar and the price of gold this tight monetary policy that they expect. But we’re not going to get tight money. Even if we get money that’s less loose, it’s still not tight. And in fact, even if it’s less loose for a while, it’s ultimately going to be even looser in the future than it is right now. Any progress that the Fed makes in reducing the amount of accommodation that it is supplying will be unwound as soon as we see adverse reactions in either the market or the economy. Eventually, it’s got to happen. It always does.”

So, at some point, either after the Fed reverses or before because the markets accurately anticipate it, Peter thinks we’ll get the reaction that he’s been expecting all along.

In this podcast, Peter also talks about how the Fed is re-rigging the CPI year again to hide increasing inflation, the ever-growing trade deficits, surging commodity prices, and Bitcoin.

end

LAWRIE WILLIAM//,//Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com,James  RICKARDS

END

Important gold commentaries courtesy of GATA/Chris Powell

USA Gold talks on their views where gold is beating including views of some billionaires

(USAGOLD)

USAGold’s ‘News & Views’ letter for January

Submitted by admin on Mon, 2022-01-03 11:01 Section: Daily Dispatches

10:48a ET Monday, January 3, 2022

Dear Friend of GATA and Gold:

USAGold’s “News & Views” letter for January contains more gold-related views than ever, including some from billionaires who haven’t given up on the monetary metal. The letter is posted in the clear at USAGold’s internet site here:

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

end

OTHER COMMODITIES/COFFEE

CRYPTOCURRENCIES/

END

Your early  currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings TUESDAY morning 7:30 AM

ONSHORE YUAN: CLOSED DOWN AT 6.3768

OFFSHORE YUAN: 6.3795

HANG SANG CLOSED UP 15.09 PTS OR 0.06%

2. Nikkei closed UP 510.08 PTS OR 1.77%

3. Europe stocks  ALL GREEN  

USA dollar INDEX UP TO  96.42/Euro FALLS TO 1.1279-

3b Japan 10 YR bond yield: RISES TO. +.089/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 116.29/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD IS NOW TARGETED AT .11%/JAPAN LOSING CONTROL OF THEIR BOND MARKET//

3c Nikkei now  ABOVE 17,000

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

3e WTI:: 76.48 and Brent: 79.58-

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.0.138%/Italian 10 Yr bond yield RISES to 1.21% /SPAIN 10 YR BOND YIELD RISES TO 0.58%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.35: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 1.31

3k Gold at $1803.55 silver at: 22.90   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble DOWN 77/100 in roubles/dollar) 75.34

3m oil into the 76 dollar handle for WTI and 79 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 116.29 DESTROYING JAPANESE CITIZENS WITH HIGHER FOOD INFLATION

30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this morning .9180– as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0355 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

USA 10 YR BOND YIELD: 1.665 UP 3 BASIS PTS

USA 30 YR BOND YIELD: 2.050 UP 3 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 13.40

Futures Surge To A Record Above 4,800 As Euphoria Grips Global Markets

 TUESDAY, JAN 04, 2022 – 07:59 AM

US stock futures, European bourses and Asian markets all rose, extending the blistering start to 2022 (just as Goldman predicted in its $125 billion January inflow case), with more strategists cementing their bullish projections as investors shrugged off worries Omicron could choke the global economic recovery as data on U.S. manufacturing and job openings due today will further show the world’s largest economy is resilient against the spread of omicron. Nasdaq 100 futures rose 0.4% and contracts on the S&P 500 climbed 0.3% to a new all time high above 4,800 after the underlying gauge closed at a record on Monday. European stocks also gained. Waning demand for haven assets pushed the yen to a five-year low, while oil fluctuated ahead of an OPEC+ meeting. The dollar and U.S. treasury yields extended their surge – with the 10Y last yielding 1.6630% – after Monday’s worst start to a year since 2009.

JPMorgan Chase & Co. strategists advised staying bullish on global stocks, saying positive catalysts are not exhausted, while Credit Suisse reiterated a bullish view on U.S. stocks. In premarket trading, Apple shares rose as much as 0.5%, putting the iPhone maker on track to reclaim $3 trillion in market cap as appetite for risk returns. Meanwhile, Jowell Global plunged 11% after a volatile trading session for the Chinese e-commerce stock on Monday that saw it plunge 59%. Travel stocks rallied for a second day even as the U.S. reported a record of over 1 million Covid cases, amid growing evidence that the omicron variant leads to milder infections. The S&P Supercomposite Airlines Index rose 3.3% Monday to the highest since Nov. 24 and appears set for further gains Tuesday. Most airline companies rose about 1% in premarket trading, while cruise lines were also higher with Carnival +1.8%, Royal Caribbean +1%, Norwegian +1.4%. General Electric rose after the stock was raised to outperform at Credit Suisse and Hewlett Packard Enterprise climbed with an overweight rating from Barclays. Here are some other notable pre-market movers today:

  • Coca-Cola (KO US) sits in a stronger position following a transition year in 2021, Guggenheim Securities writes in note upgrading to buy after almost exactly a year with a neutral stance. Shares up 1% in premarket.
  • Stryker (SYK US) and Globus Medical (GMED US) both upgraded to overweight at Piper Sandler, which says in a note that the two stocks have momentum to continue delivering above-average share performance this year. Stryker up 1.4% premarket.
  • Tiny U.S. biotech stocks gain in high premarket volume amid a broader return of risk appetite and following positive updates on studies. Oragenics (OGEN US) +23%, Indaptus Therapeutics (INDP US) +7%.
  • Intra-Cellular Therapies (ITCI US) falls 7% in premarket after launching a $400 million share sale.
  • AFC Gamma (AFCG US) falls 11% premarket after launching a stock offering.
  • Core & Main (CNM US) dropped 7.6% postmarket after holders offered a stake.

In Europe, the Euro STOXX 600 gained as much as 0.9% in early trading, pushing beyond its all-time high of 489.99 points scaled a day earlier, with the FTSE 100 and CAC 40 up over 1.25%. Travel and leisure stocks jumped 2.7%, with Ryanair adding 8% and British Airways-owner IAG gaining over 9%, reflecting expectations Omicron’s impact on the industry would be less severe than initially feared. Euro Stoxx 50 added as much as 1% with travel, autos and banks the best performing sectors so far.

Investors have set aside worries about the highly infectious omicron variant as they continue to trade on the economic recovery from the pandemic which may soon be ending thanks to Omicron which could make covid endemic.

“Globally, there is a lot of news regarding the rising omicron cases, but there is also a lot of news that the cases are not as deadly as the previous variants of Covid,” Ipek Ozkardeskaya, a senior analyst at Swissquote, wrote in a note. “And investors prefer focusing on a glass half full rather than a glass half empty at the start of the year.”

“The chief reason behind the return of investor confidence is Omicron,” said Jeffrey Halley, an analyst at Oanda. Yes, the virus variant is much more contagious, but it is not leading to a proportionally larger number of hospital admissions… (so) it won’t stop the global economic recovery.”

This, incidentally, is precisely what we said over a month ago. That said, markets anticipate an uptick in volatility as they navigate through the omicron variant, supply-chain disruptions and more central banks winding back pandemic stimulus. More than one million people in the U.S. were diagnosed with Covid-19 on Monday, a new global daily record, and yet markets barely winced.

Asian stocks gained behind rallies in Japan and Australia on their first trading sessions of 2022, with much of the region tracking the strong performance in the U.S. as investors maintained growth optimism despite a worsening pandemic.  The MSCI Asia Pacific Index rose as much as 1%, the most in two weeks, lifted by technology and financial shares. Metals and mining stocks gave the Australian benchmark gauge a boost, while a weaker yen allowed exporters to provide support for Japan’s Topix. Chinese stocks bucked the regional trend to suffer their weakest start to a year since 2019. The CSI 300 Index fell 0.5% as some investors took profit and assessed developments in the property sector while renewable energy and health-care firms paced declines. Also souring the mood, the People Bank of China cut its net injection of short-term cash to the markets, prompting concerns over support for the financial system.

Tuesday’s activities in Asia also showed some traders setting aside their worries over the rapid spread of omicron strain for now to bet on resilience in the global economy.  While the omicron variant will be a negative factor in the short term, Chinese equities will likely help drive emerging markets higher in 2022 as monetary and fiscal stimulus spur economic growth, said Kristina Hooper, chief global market strategist at Invesco.  The Philippine Stock Exchange had to cancel trading following a system glitch, according to a statement by bourse President Ramon Monzon

Japanese equities rose in their first trading session of the year, helped by the yen’s drop to a five-year low and a tailwind from U.S. peers’ climb to fresh all-time highs. Electronics and auto makers were the biggest boosts to the Topix, which gained 1.9%, the most in four weeks. All industry groups advanced except papermakers and energy explorers. Tokyo Electron and Advantest were the largest contributors to a 1.8% rise in the Nikkei 225.  The S&P 500 rose to a record and Treasury yields climbed Monday as traders braced for the start of a potentially volatile year and three expected rate hikes from the Federal Reserve. The White House is likely to nominate economist Philip Jefferson for a seat on the Fed board of governors, according to people familiar with the matter. “It’s gradually coming to light who will be the new members of the FRB and it looks like they will be those with quite a dovish stance, which very supportive factor for stocks,” said Hiroshi Matsumoto, senior client portfolio manager at Pictet Asset Management in Tokyo. 

Australian stocks jumped themost in over a year, with fresh records in sight. The S&P/ASX 200 index rose 2% to 7,589.80, marking its best session since October 2020. The benchmark closed about 40 points away from the all-time high it reached in August as all sectors gained. Pilbara Minerals was among the top performers, jumping to a record. St. Barbara was among the worst performers after giving an update on its Simberi mine. In New Zealand, the market was closed for a holiday.

India’s Sensex rallied for a third day as the outlook for lenders improved on the back of a continued recovery in the economy.  The S&P BSE Sensex rose 1.1% to 59,855.93 in Mumbai, while the NSE Nifty 50 Index rallied 1%. All but three of the 19 sector sub-indexes compiled by BSE Ltd. climbed, led by a gauge of power companies. The S&P BSE Bankex added 1.3% to stretch its rally to a fourth day, its longest streak of gains since Oct. 26.   Financial stocks in India offer an attractive entry point after foreign funds sold more than $3 billion of sector stocks over Nov.-Dec., Jefferies analyst Prakhar Sharma wrote in a note. He expects improved growth, stable asset quality and manageable omicron impact to aid a re-rating of the sector. “Markets are currently following their global counterparts while the domestic factors are showing mixed indications,” Religare Broking analyst Ajit Mishra said in a note.  Reliance Industries contributed the most to the Sensex’s gain on Tuesday, increasing 2.2%. Out of 30 shares in the index, 25 rose and five fell.

In FX, Bloomberg Dollar Spot Index trades notably higher for the second day in a row, with AUD and CHF top the G-10 leader board, while the JPY lags pushing through Asia’s worst levels near 116.31/USD.  The euro was confined in a narrow range around $1.13 while the greenback weakened versus all of its Group-of-10 peers apart from the yen and risk-sensitive currencies were the best performers. The pound edged higher, continuing its ascent over the holiday period that was based on firmer global risk sentiment and bets the U.K. economy won’t be derailed by omicron. Gilts slumped as traders caught up with Monday’s jump in U.S. and euro-area yields after the U.K. was closed for a holiday. Australia’s government bonds and the nation’s currency both rose amid speculation the global economic recovery will weather the surge in omicron infections. New Zealand’s markets remained shut for New Year holidays. Purchasing managers’ index for the Australia’s manufacturing sector declined for the first time in four months in December, Markit data showed.

The yen dropped to a five-year, with the USDJPY rising above 116 as speculation the global economic recovery will weather omicron saps demand for haven assets. Japanese bonds declined before debt auctions later this week. Options pricing suggests there may be more gains for the dollar in a rally against the yen that’s already taken it to the strongest since 2017.

In rates, 10-year Treasury yield spiked to 1.66% after surging 12 basis points on Monday, the biggest jump to start a year since 2009. The two-year rate was at 0.77%. Treasury yields were cheaper by up to 1.5bp across front- and belly of the curve with long-end yields slightly richer vs. Monday close. IG dollar issuance includes a number of bank names headed by NAB 5-part offering. Three-month dollar Libor +0.69bp at 0.21600%. Bunds richen 1.5bps across the belly with a mixed peripheral complex with expectations for a busy issuance slate ahead. Gilts underperform, playing catch up to Monday’s move in bunds and treasuries, cheapening as much as 10bps across the curve with 10s near 1.07%.

Looking beyond the current risk-on momentum, traders expect Fed tightening to further boost yields and reset equity valuations. This week’s U.S. December payroll data and minutes from the Fed’s meeting last month may throw more light on the pace of such shift.

“We expect 2022 to be far more challenging from an investment perspective,” Heather Wald, vice president at Bel Air Investment Advisors, said in an emailed note. “Rarely has a market delivered three consecutive years of double-digit returns, as we have seen from 2019-2021. With the Federal Reserve set to accelerate tightening and a fairly valued stock market, we anticipate more muted returns for the S&P next year but still expect equities to remain attractive versus other liquid asset classes.”

In commodities, crude futures flip a short-lived dip to rise ~0.7%. WTI trades near best levels of the session close to $76.70, Brent near $79.50 ahead of today’s OPEC+ gathering. Spot gold trades a tight range, holding above $1,800/oz. Base metals are mixed, LME copper underperforms.

U.S. economic data slate includes the December ISM manufacturing survey, which will show the early impact of the variant on supply chains, while the JOLTS data will show the balance between job openings and unemployment numbers; also this week brings ADP employment change, durable goods orders and December jobs report.

Market Snapshot

  • S&P 500 futures up 0.3% to 4,799
  • STOXX Europe 600 up 0.5% to 492.53
  • German 10Y yield little changed at -0.13%
  • Euro little changed at $1.1307
  • MXAP up 0.9% to 194.72
  • MXAPJ up 0.6% to 633.00
  • Nikkei up 1.8% to 29,301.79
  • Topix up 1.9% to 2,030.22
  • Hang Seng Index little changed at 23,289.84
  • Shanghai Composite down 0.2% to 3,632.33
  • Sensex up 1.1% to 59,815.19
  • Australia S&P/ASX 200 up 1.9% to 7,589.76
  • Kospi little changed at 2,989.24
  • Brent Futures up 0.4% to $79.26/bbl
  • Gold spot up 0.3% to $1,806.40
  • U.S. Dollar Index little changed at 96.18

Top Overnight News from Bloomberg

  • Treasury traders are betting the rapid spread of omicron will increase inflationary pressures in the U.S. economy, rather than weaken them
  • Global central banks are set to spend 2022 diverging, as some take on the menace of inflation and others stay focused on boosting economic growth
  • French inflation stabilized in December, indicating price pressures may be near a peak in the euro area after surging on energy costs in the past few months
  • OPEC and its allies are poised to revive more halted oil production when they meet on Tuesday after predicting a tighter outlook for global markets

A more detailed breakdown of global markets courtesy of Newsquawk

Asia-Pac stocks eventually traded mixed on the first trading session of the year for most bourses, with the region catching some tailwinds from the positive Eurozone and US sessions on Monday. On Wall Street, the Nasdaq outpaced with gains of 1.2% as Apple became the first-ever public company to reach USD 3tln in market value, whilst Tesla shares were catapulted 13.5% after beating Q4 delivery expectations despite the chip shortage and in spite of last week’s mass recall. US equity futures overnight resumed trade with a mild positive bias and thereafter drifted higher – with the US ISM Manufacturing PMI, FOMC Minutes, US labour market report and Fed speakers all on this week’s docket. The ASX 200 (+2.0%) saw gains across its Energy, Mining, Tech and Financial sectors. The Nikkei 225 (+1.8%) briefly dipped under 29k before rising to session highs – with Autos among the top gainers amid a similar performance Stateside, whilst the softer JPY underpinned the index. The KOSPI (U/C) was flat in early trade but thereafter swung between gains and losses. In China, the Shanghai Comp (-0.2%) gave up early gains on its first trading day of 2022 following a CNY 260bln daily liquidity drain by the PBoC, whilst reports also suggested that China is facing USD 708mln cash demand this month, +18% Y/Y according to calculations, amid maturing debt and seasonal demand for cash ahead of the Lunar New Year on 1st February. The Hang Seng (+0.1%) kicked off its second day of trade the year in the green after Monday’s losses. China Evergrande shares resumed trade with gains of 5% after it yesterday suspended its Hong Kong shares in a bid to raise cash and following the order to demolish 39 buildings. Meanwhile, Hong Kong-listed and US-blacklisted AI firm SenseTime shares rose another 20% to almost triple its IPO price. In fixed income, US 10yr Mar’22 futures saw some light buying in early trade, with some suggested regional Asia demand following the heavy cheapening on Monday, albeit this early mild upside faded.

Top Asian News

  • Amazon Plays Down Reports It’s Pulling Kindle From China
  • H.K. Finds One Prelim. Local Case With Unknown Source: HK01
  • China High-Yield Dollar Bonds Fall 1-2 Cents; Developers Lead
  • China South City USD Bonds Slump; Firm Denies Debt-Swap Report

European equities trade on a firmer footing with the Stoxx 600 (+0.8%) once again at a record high. The FTSE 100 leads the charge within the region; however, this is largely on account of a catch-up play from yesterday’s bank holiday. Initially to the downside resided the SMI (+0.1%) as the only major bourse in the red amid losses in index-heavyweight Roche (-1.4%); however, this has abated modestly throughout the morning. The lead from the APAC region was a mixed one as the Nikkei 225 (+1.8%) benefited from a softer JPY, the ASX 200 (+1.95%) was lifted by gains in Energy, Mining, Tech and Financial sectors, whilst Chinese bourses (Hang Seng +0.1%, Shanghai Comp. -0.2%) were kept subdued by a PBoC liquidity drain and unable to benefit from an unexpected expansion in the December Chinese Caixin Manufacturing PMI. Stateside, futures are modestly firmer across the board (ES +0.4%, NQ +0.4%, RTY +0.5%) after yesterday’s session which was characterised by Nasdaq outperformance, +1.2%, as Apple became the first-ever public company to reach USD 3tln in market value, whilst Tesla shares were catapulted 13.5% after beating Q4 delivery expectations. In a recent note, analysts at JP Morgan stated they are of the view that there is further upside for stocks as the Omicron variant appears to be milder than previous strains and the impact on mobility is more manageable than previous ones. Furthermore, the bank suggests that there are signs that constraints in supply chains are passing their peak and power prices are easing. Sectors in Europe are mostly firmer with Travel & Leisure names clearly top of the pile UK as airline names benefit from ongoing optimism about the Omicron variant’s impact on mobility and a December passenger update from Wizz Air which has sent its shares higher by 10.1%. Of note for the European banks (which are also a notable gainer on the session), Citigroup is “overweight” on the sector for the upcoming year, citing profit growth, interest rate hikes and potential for capital returns. In terms of specific names, BNP Paribas, Lloyds and UBS were flagged as top picks. Elsewhere, other cyclically-led sectors such as Autos, Oil & Gas and Basic Resources are also trading on a firmer footing. To the downside, Healthcare names sit in the red amid aforementioned losses in Roche, whilst Sanofi (-0.7%) are also seen lower after flagging that Q4 2021 vaccine sales are expected to be lower on a Y/Y basis. Finally, Rolls-Royce (+3.6%) is seen higher on the session after concluding the sale of Bergen Engines.

Top European News

  • Italy Starts Search for New President With Draghi as Contender
  • U.K. Mortgage Approvals Fall to 66,964 in Nov. Vs. Est. 66,000
  • Ukraine Says Russia Reinforced Military Units in Occupied Donbas
  • European Gas Prices Jump a Second Day as Russian Shipments Drop

In FX, the Dollar index looks comfortable enough above 96.000 within a 96.336-146 range after eclipsing yesterday’s best (96.328) marginally, but the technical backdrop remains less constructive given its failure to end last week (and 2021) above a key chart level at 96.098. Nevertheless, the most recent spike in US Treasury yields has given the Greenback sufficient impetus to claw back losses, and in DXY terms fresh incentive to rebound firmly or extend gains against funding currencies in particular ahead of the manufacturing ISM and the remainder of a hectic first week of the new year that culminates in NFP and a trio of scheduled Fed speakers, but also comprises minutes of the December FOMC taper and more hawkishly aligned tightening policy meeting.

  • JPY/AUD – As noted above, low yielders are underperforming or lagging in the current environment, and the Yen is also succumbing to the increasingly divergent BoJ vs Fed trajectory that is exacerbating technical forces behind the rally in Usd/Jpy to new 5 year highs just shy of 115.90. Stops are said to have been triggered during the latest leg up and there is little of significance in terms of resistance ahead of 116.00, while option expiry interest is relatively light until 1.13 bn at the half round number above. Conversely, the Aussie has been boosted by higher coal prices overnight and an unexpected return to growth from contraction in China’s Caixin manufacturing PMI, with Aud/Usd trying to establish a base around 0.7200 in wake of an upward revision to the final manufacturing PMI.
  • GBP/NZD/EUR/CHF/CAD – The Pound is next best major, but mainly due to Gilts playing catch-up following Monday’s UK Bank Holiday and only in part on the back of an upgrade to the final manufacturing PMI allied to better than forecast BoE data including consumer credit, mortgage lending and approvals. Cable is probing 1.3500 and Eur/Gbp is edging towards 0.8360 even though the Euro has regained some poise against the Buck to retest 1.1300 with some traction gleaned from stronger than anticipated German retail sales and jobs metrics. Back down under, the Kiwi is trying to keep tabs on 0.6800 in the face of Aud/Nzd headwinds as the cross climbs over 1.0600, while the Franc is holding above 0.9200 post-Swiss CPI that was close to consensus and the Loonie is meandering between 1.2755-23 parameters pre-Canadian PPI and Markit’s manufacturing PMI against the backdrop of firmer crude prices.

In commodities, WTI and Brent are firmer this morning and have been grinding towards fresh highs throughout the European session after slightly choppy APAC trade; currently, the peaks are USD 76.82/bbl and USD 79.67/bbl respectively. Newsflow has been fairly slow throughout the morning with catch-up action occurring for participants. Today’s focal point for the space is very much the OPEC+ gathering; albeit, this is expected to result in a continuation of the existing quota adjustments of 400k BPD/month. Thus far, the JTC has reviewed market fundamentals and other developments determining that the Omicron variant’s impact is expected to be both mild and short-term. For reference, today’s timings are 12:00GMT/07:00EST for the JMMC and 13:00GMT/08:00EST for OPEC+ – though, as always with OPEC, these serve only as guidance. While the main decision is expected to be a straightforward one, there is the possibility that underproduction by certain members could cause some tension. Elsewhere, spot gold and silver are contained with a modest positive-bias but are yet to stray too far from the unchanged mark with spot gold, for instance, in a sub-USD 10/oz range just above USD 1800/oz. Separately, coal futures were notable bid in China following reports that Indonesia, a large supplier to China, has banned exports for the month, given domestic power concerns.

US Event Calendar

  • 10am: Nov. JOLTs Job Openings, est. 11.1m, prior 11m
  • 10am: Dec. ISM Employment, est. 53.6, prior 53.3
    • ISM New Orders, est. 60.4, prior 61.5
    • ISM Prices Paid, est. 79.2, prior 82.4
    • ISM Manufacturing, est. 60.0, prior 61.1

 END

3. ASIAN AFFAIRS

i)TUESDAY MORNING MONDAY  NIGHT

SHANGHAI CLOSED DOWN 7.45 PTS OR .20%      //Hang Sang CLOSED UP 15.09 PTS OR 0.06% /The Nikkei closed UP 510.05 PTS OR  1.77%      //Australia’s all ordinaires CLOSED UP 1.90%  /Chinese yuan (ONSHORE) closed DOWN 6.3768    /Oil UP 76.48 dollars per barrel for WTI and UP TO 79.58 for Brent. Stocks in Europe OPENED  ALL GREEN    //  ONSHORE YUAN CLOSED DOWN  AGAINST THE DOLLAR AT 6.3768. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3795: /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DO

3 a./NORTH KOREA/ SOUTH KOREA

///SOUTH KOREA

END

3B JAPAN

end

3c CHINA

END

CHINA/EVERGRANDE

Beijing sends a strong warning concerning Evergrande that there will be no let up in their crackdown on the property sector

(Frost/Bloomberg)

Beijing Sends Warning With Evergrande

 MONDAY, JAN 03, 2022 – 09:56 PM

By Richard Frost, Bloomberg markets live commentator and reporter

China’s authorities are sending a clear signal that there will be no let up in their crackdown on the property market, meaning the industry will remain a concern for investors for some time to come.

Local governments are getting tough, with an order that Evergrande demolish 39 buildings in 10 days the latest extreme example. The timing and urgency of the demand is notable for a project that’s been problematic since at least 2018, when an official report showed it was inflicting damage to a vast area of coral reef.

Similarly, the Shenzhen government’s bailout of China South City last week was heavily discounted, which “may indicate the state conducted very tough M&A price negotiations,” according to Bloomberg Intelligence credit analyst Andrew Chan. And the removal of a statement by authorities in Heilongjiang last month pledging “all out efforts” to support the property sector suggested it wasn’t the message the central government wanted to send.

Beijing’s plans for the property industry has become a center of global investor focus, given its vital importance to the world’s second-largest economy. Evergrande has led a wave of defaults, with at least six developers failing to pay debts on time in the last quarter. Firms are being squeezed by a slump in sales, elevated borrowing costs and the economic slowdown. Contracted sales for 31 listed property companies fell 26% in December from a year earlier, according to Citigroup analysts.

A gauge of Chinese property stocks slid 1.7% on Monday to near an almost five-year low. On a price-to-book basis, the index is approaching the cheapest level since at least 2005. The measure rose in the previous two weeks amid speculation officials would dial back curbs on the industry to limit the impact on the economy.

END

CHINA/COVID//

The COVID spread spreads to 2 new cities, including the largest port in the world, Ningbo. Information is basically scarce on all cities.  If they freeze the port of Ningbo, it could have a devastating effect on the

Chinese economy and for that matter, the reset of the world.

(zerohedge)

China’s Latest COVID Outbreak Spreads To 2 New Cities Including Home Of World’s Largest Port

 TUESDAY, JAN 04, 2022 – 05:45 AM

China is now dealing with three serious outbreaks as the eastern port city of Ningbo reported 16 cases over the weekend, while the city of Yuzhou, a smaller city with 1.3M residents, has seen some of its neighborhoods placed on lockdown.

Fortunately for China’s economy, the Ningbo Zhoushan Port, the largest port in the world, said in a statement published on Weibo late Sunday that its operations are basically stable despite the strict COVID controls to try and contain the outbreak. Of the 16 cases, authorities said nine were imported and seven were local.

According to a statement posted by Yuzhou’s city government to its Weibo account, a lockdown has been imposed upon the downtown district, even though the city reported just 3 cases on Monday. Public transit, taxis and school have all been suspended in the district.

Fortunately for the Chinese economy, the numbers in Ningbo are much smaller than the number of new cases still being reported in Xi’an, which is in the middle of a mass lockdown, leaving many in the city of 13M without easy access to essentials like food and medicine.

As the virus continues to spread, the Ningbo Containerized Freight Index has just reached an all-time record high of $4,264/FEU at a time when shipping costs around the world have surged.

The port city has already undergone 3 partial lockdowns in the past 6 months, according to China’s state-controlled press. Meanwhile, some 200 pilots have been put into quarantine over the past week after two pilots tested positive for the virus.

It’s fair to assume the world is curious about the conditions inside Xi’an, as critics of China pointed out on Twitter that there are no “citizen journalists” in Xi’an reporting on the latest lockdown. That’s unlike the situation in Wuhan, which was covered by several citizen journalists. However, most of these people were disappeared or otherwise disciplined by Chinese authorities, setting a pretty clear example for anybody else who might want to try it.

Still, even China’s state-controlled press has acknowledged that people in the city had been struggling to buy food. It’s unclear whether this situation has eased.

Beijing must contain the situation in Ningbo: freezing the port would have broad-based ramifications for the entire Chinese economy, and the global economy more broadly.

As we noted the other day, traders have already started freaking out about the prospect of supply chain-crippling shutdowns in China, even as companies with large factories in Xi’an have insisted the lockdowns aren’t having a big impact on production. But as a reminder, the last time China’s megaports of Yantian or Ningbo were closed, supply chains collapsed, shipping rates went astronomical after a modest lag.

China finished off 2021 last week by reporting the most new cases since the end of the lockdown in Wuhan, and overall, the number of new cases has been nearing 200/day since the start of the New Year.

4/EUROPEAN AFFAIRS

EUROPE/USA/RUSSIA/CHINA

January 2022: A Game Changing Moment Between Russia, America and the World — Strategic Culture

Sometimes, history gives us a chance to watch in real time.
There is no doubt that we live in a multipolar world where China and Russia exist as distinct rivals and challengers to American hegemony. The current weakness of the American parade under Biden and his enablers only hastens the day of object reality as new observations of ineptness come into constant daily view carried by outdated and obsolete state department overreach.
Both France and Germany are wakening up quickly to the reality that a new relationship is needed with Russia and it is no one to be dictated by a Biden regime that garnishes no respect or even moral authority to give rise to leadership. There are deep feelings within French establishment that they would be better off without NATO and its’ American slant of containment and confrontation. Both Germany and France understand that as Nuclear plants shut the only true answer is natural gas from Russian pipes. Recently, I wrote about the importance of the Caspian Gas deal that Europe needs. That deal which benefits Iran, China and Russia is a done deal and the reality of supply is clear. America was played off the board for European gas supply with that deal.
In reality, Russia dominates in any strategic confrontation of military force and everyone knows that. The bigger danger would be to demonstrate its’ effectiveness by invoking a conflict which in the end publicly demonstrate the lack of ability to confront. This would be a deep blow to any mistaken shred of capacity. America has potential but needs time to rebuild itself to hold a very real role in the world.
New trade routes will open up through the eastern part of Europe that will lead to Eurasia and this is impossible to stop as its’ day is coming. Just like the hold of WEF over politicians will fade while causing much internal state turmoil and many even the breakup of the EU in its’ present form.
Everything changes and we are seeing very real structural change occurring in Europe at a depth not seen in decades.

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/

RUSSIA/UKRAINE/USA

Biden gives Ukraine’s President Zelensky assurance as to what they will do if Russia invades them

(zerohedge)

Biden Gives Ukraine’s President ‘Assurances’ Of What US Will Do To Russia

 MONDAY, JAN 03, 2022 – 05:20 PM

In a Sunday phone call Joe Biden told Ukraine’s President Volodymyr Zelensky that the US and its allies will “respond decisively if Russia further invades Ukraine.” Crucially, Biden pledged that the US would not go over Ukraine’s head in reaching any final resolutions with Russia during upcoming negotiations and talks over the crisis. Biden vowed to Zelensky that key to US-Ukraine relations would being “nothing about you without you” would be done.

Ukraine has in the past months on numerous occasions expressed fear of such a scenario as the White House engaging Putin but without the direct input of Kiev. Zelensky himself has echoed the concern of being “sidelined” on issues directly pertaining to Ukraine’s security.

But as with prior instances of Biden phone calls and summits with Putin, Zelensky’s call came days after the Thursday one-hour phone dialogue with Putin. Typically Ukraine is consulted after the two superpowers engage, in a pattern that has frustrated Kiev, also at a moment it believes Russia’s military is preparing for an offensive into Donbass by month’s end. 

Biden further pledged to look out for Ukraine’s “sovereignty and territorial integrity” and “He also expressed support for confidence-building measures to de-escalate tensions in Donbas and active diplomacy to advance the implementation of the Minsk Agreements, in support of the Normandy Format,” according to the White House call read-out.

Special talks in Geneva where the Russian, US and NATO sides are expected to engage on Moscow’s submitted “security guarantees” draft document will kick off Jan.9-10. Central to Russia’s position is that it receive legally binding commitments of no further NATO expansion eastward. Further it wants to see prior historic verbal pledges given to Georgia and Ukraine of a “path to NATO membership” ultimately rescinded. 

Zelensky for his part, issued a message on Twitter on Sunday evening, describing the Biden call as affirming “the special nature of our relations.” He added that “Joint actions of Ukraine, United States and partners in keeping peace in Europe, preventing further escalation, reforms, deoligarchization were discussed.”

In terms of specific warnings that Biden delivered to Putin last week, Russia was warned of a “heavy price to pay” if there’s any offensive into Ukraine, which so far has included talk of “heavy economic sanctions” – which likely means Iran-style sanctions involving export controls. 

END

IRAN/USA

Humourous! Iran demands Trump to be put on trial for the Soleimani killing

(zerohedge)

Iran Demands Trump Be Put On Trial For Soleimani Killing: “Muslims Will Take Revenge”

 MONDAY, JAN 03, 2022 – 07:20 PM

Iran is marking the second anniversary of the death of its popular commander of the IRGC Quds Force Gen. Qasem Soleimani, killed by US drone strike under the Trump administration while leaving Baghdad airport on Jan.3, 2020.

Large rallies were held in Tehran and across major cities marking the occasion, which included a theme of “we are all Soleimani” and anti-American slogans and signs. Further Iranian leaders, as well as Soleimani’s daughter, Zeinab Soleimani, who has been outspoken since his death – have vowed they will see “vengeance” done against Washington. She said in a Monday speech: “We vow to move closer, hand in hand and step by step, to the horizon of exacting ‘harsh revenge’ on enemies whose hands are stained with their blood,” according to state media.

But the comments from the day which grabbed international headlines, as they were by design meant to get Washington’s attention given the brazenness and outlandish nature of the “threat”, were issued by Iran’s hardline President Ebrahim Raisi. He vowed that Muslims would “take revenge” against the US if Trump and Pompeo aren’t arrested and brought to trialSource: Salon/AP

“If Trump and (former secretary of state Mike) Pompeo are not tried in a fair court for the criminal act of assassinating General Soleimani, Muslims will take our martyr’s revenge,” Raisi said in a televised speech Monday, according to Reuters.

Of course, no US leader in history has ever been put on trial for any alleged “war crimes” abroad, and Raisi without doubt knows this. But it comes after the Islamic Republic submitted a formal letter to the United Nations demanding that it hold both the US and Israel accountable for the 2020 killing.

Iran and its allies in Iraq have argued that given Soleimani was on a diplomatic mission at the time of his death, the drone killing ordered by then President Trump was essentially an assassination of an active ambassador and top government official. According to Al Jazeera

In a letter to the UN General Assembly published late on Saturday, the legal department of Iran’s presidential office called for “all legal initiatives in its power, including issuing a resolution”” to condemn the US government and discourage similar moves in the future.

The letter said US governments have, for years, displayed an “excessive unilateralism” in their actions that has granted them the power to violate international laws and agreements.

Interestingly and strangely, some Iranian officials took a jab at Trump over the Jan.6 Capitol events…

In the days after the Jan.3rd killing, which shocked many regional leaders given the brazenness and unpredictable nature of the attack, Iran hit back by sending cruise missiles on some American bases in Iraq, specifically at at Al Asad and one in Irbil. Though no casualties were initially confirmed there began to slowly emerge reports of at least dozens of head injuries and concussions suffered by US personnel, described as “Traumatic Brain Injury” – but which the Pentagon tried to downplay.

end

IRAQ/USA/IRAN

Two suicide drones from Iran shia groups inside Iraq attack USA base

(zerohedge0

Suicide Drones Marked With “Soleimani’s Revenge” On Wings Attack US Base In Iraq

 MONDAY, JAN 03, 2022 – 11:20 PM

On Monday, at a time when Shia groups in Iraq and Iran are staging large anti-American rallies to commemorate the Jan.3rd 2020 killing of IRGC General Qassem Soleimani, a pair of armed drones were sent against a military base in Iraq which hosts US forces.

Two armed drones were shot down as they approached an Iraqi military base hosting US forces near Baghdad’s international airport, Iraqi security sources said, adding that nobody was hurt in the incident,” Al Jazeera reports. It happened at Camp Victory not far from the city’s international airport.Illustrative: Iranian Army drone test launch, via AP

A US official called it “a dangerous attack on a civilian airport,” given the nearby presence of civilian aviation. The official said the base’s defense system thwarted “two fixed-wing suicide drones” that were inbound, but “they were shot down without incident.”

But interestingly one of the drones was marked with the words “Soleimani’s revenge”, according to the report:

Footage provided by the coalition showed what the official said was debris of two fixed-wing drones destroyed in the attack, with writing clearly visible on the wing of one drone reading “Soleimani’s revenge”.

Though there were no immediate claims of responsibility, the obvious suspected groups include factions under Iraq’s pro-Iran Popular Mobilization Forces.

Alongside Soleimani, the Iraqi militia leader Abu Mahdi al-Muhandis also lost his life on that day in the US drone attack two years ago, along with others in the caravan which was driving away from Baghdad International Airport at the time. 

In Tehran on Monday, Iranian President Ibrahim Raisi vowed a “martyr’s revenge” during a televised address on the second anniversary of Soleimani’s death.

“If Trump and (former secretary of state Mike) Pompeo are not tried in a fair court for the criminal act of assassinating General Soleimani, Muslims will take our martyr’s revenge,” Raisi said according to Reuters. Given this, and the heightened passions and tensions, it’s likely there will be more small scale attacks to come targeting remaining US forces in Iraq this week.

.

6.Global Issues

CORONAVIRUS/UPDATE/VACCINE MANDATE

McCullough outlines outpatient treatments for COVID 19 have been suppressed.

(important read..)

(Jan Jekielek/EpochTimes)

Dr. McCullough: Outpatient Treatments for COVID-19 Have Been Suppressed

By Jan Jekielek and Masooma Haq
The Epoch Times, New York
Monday, January 3, 2022

https://www.theepochtimes.com/dr-mccollough-says-outpatient-treatments-for-covid-19-have-been-suppressed_4189353.html

Dr. Peter McCullough told The Epoch Times that the public should question why the governments and public health officials around the world have put little to no emphasis on outpatient treatments in their efforts to fight the COVID-19 virus, instead promoting a massive effort on vaccines.

“Lots of messaging on the vaccine, but zero mentioning on treatment, none. And it’s been from the very beginning. There is a theme here, I hope everyone’s starting to get the theme. There is zero effort, interest, promotion, or care about early treatment, people who are sick with COVID-19,” said McCullough. “But there is a complete and total focus on people who don’t have COVID-19 and giving them a vaccine.”

McCullough is an internist, cardiologist, epidemiologist, and lead author of the first paper on early COVID-19 outpatient treatment involving a multi-drug regimen. In a recent interview with EpochTV’s “American Thought Leaders” program, he discussed a wide range of evidence on COVID-19 preventative treatments that are being used around the world.

He said that drug treatments must be prioritized in the effort to stamp out the threat of COVID-19. “So early treatment markedly changes spreads. So, we reduce new cases, we reduce the intensity and severity and duration of symptoms. And by that mechanism, we reduce hospitalization and death.”

The doctor cited some recent treatments that have been effective in killing the virus at the early stage of infection: Dr. Iqbal Mahmud Chowdhury conducted a protocol in Bangladesh that used a povidone-iodine rinse in the nose and eyes to kill the virus. Another treatment effort by a French doctor, Didier Raoult, who treated people using hydroxychloroquine, met with great success.

“Chowdhury is the first author recognizing the fact that the virus is in the air, people breathe it in, it settles in the nose, and it begins to replicate. And it has to get to a certain threshold and overcome the other organisms in the nose and overcome our own immune system to become a clinical infection. So, there’s about a three-to-five-day window to actually zap the virus directly.”

Masks and hand sanitizer are illogical and the data does not show them to be effective means to prevent COVID-19 infections because the virus is spread through the air, not hands, and is too small to be blocked by most masks said, McCullough.

McCullough said COVID creates “terrible inflammation” and hydroxychloroquine has been shown to be effective to reduce that, but instead of seeing an increase in using and studying the effectiveness of that drug, it has instead been restricted and in some countries, doctors can be jailed for using it to treat their patients.

In the United States, hydroxychloroquine can only be used in hospitals.

McCullough detailed the events that led to these restrictions, saying that for one, “there was a falsified paper published in Lancet … which claimed to have tens of thousands of patients with COVID-19, hospitalized at multiple centers around the world, in their 40s, hospitalized with COVID-19.” He said the supposed study was not verified and claimed the drug had negative health effects.

This “false” study led to medical professionals losing confidence in the drug and after which, “hospital messaging started to say, listen, don’t use hydroxychloroquine.

“The NIH pulled the program on a fully-funded trial in the midst of our initial wave of COVID-19. And then, shortly after that, the FDA put out a statement: hydroxychloroquine should not be used across the board, period.

“The next drug up on the block was Ivermectin.”

The Epoch Times reached out to the NIH to ask what they thought of Dr. McCullough’s criticism of the NIH’s COVID-19 treatment guidelines. The NIH spokesperson declined to comment. She said that the NIH relied on a panel of many experts to develop the COVID-19 treatment guidelines.

The FDA told The Epoch Times they are committed “to speed patient access to medicines to prevent or treat COVID-19 provided they meet the agency’s rigorous standards,” but that they believe the vaccines are the best way to prevent the disease and hospitalization.

McCullough says along with anti-hydroxychloroquine messaging, the drug Ivermectin was also maligned after that the American Medical Association gave an opinion against it.

“So, Americans saw the most confusing picture of hospitalized care of COVID-19 and a very confusing picture of outpatient treatment of COVID-19. My contributions, at least I tried to organize the outpatient treatment into concepts, where we would use drugs … in the middle phase treat inflammation, and in the late phase treat blood clotting; and we stuck with those principles all the way through,” said McCullough.

McCullough said it’s highly unusual for hospitals to not conduct trials on treatments for a disease, but with COVID-19 no major trials have been done to improve treatments and there have been no outcomes publicized by hospitals.

McCullough said improving treatments for those who are sick with COVID-19 has never been a priority for those in charge of public health because vaccines have been pushed from day one. He remembers how CVS pharmacies were advertising the vaccines even before they were fully authorized.

CVS confirmed to The Epoch Times that they were advertising the vaccines in October 2020.

He said the U.S. media has almost completely blocked out what is going on around the world with treatments for COVID. “Anywhere where there has been an early oral drug approach there has been success in terms of COVID-19. And now more recently, it was very fascinating, is anywhere where there’s any attention to decontamination in the nose and the mouth with direct by virucidal therapy. There have been stunning results.”

He questions why the United States has not reviewed the work being done around the world to treat the disease. “We haven’t seen panels of collaborating doctors. We’ve never seen a symposium on local therapy, what works best for the nose. No mention by public health officials.” McCullough says those leading U.S. public health agencies are incompetent.

McCullough suggests that there be a monthly review of new therapies used to treat COVID both at a national and global level, for doctors to review and learn from peers. “The idea that there’s no review, you’d think there would be the World Health Organization would actually assign a task force. This is the biggest public health problem, a monthly review of promising therapies.”

“So the treatment, inpatient and outpatient, of the biggest illness of our time, after two years, is an enigma.”

-END-

This one is really good: Jeffrey Tucker…

(Tucker/Brownstone)

They Said They Would Slow The Spread

TUESDAY, JAN 04, 2022 – 04:21 PM

Authored by Jeffrey Tucker via The Brownstone Institute,

It’s been the most astonishing two weeks for American public life, with so many prescient changes, from new censorships, admissions, backtracks, experts speaking out, public outrage, and what strikes me as a progressive unraveling of every orthodoxy imposed nearly two years ago. 

Not even the influential and powerful are in a position to defend what has happened to us. They seem to be gradually pulling away from public life, unable to say things that connect to what everyone knows. 

Above all else, what’s remarkable right now is the undeniable arrival of Covid to a degree to which hardly anyone could have imagined all that time ago, when so many experts set out to deploy their fabulous new system for stopping the spread of a disease. 

There was a goal (stop cases). There was a method (state compulsion). And there was a test (cases were supposed to go down and go away). There would be a war on a virus and the state would win! And now we look around and see the evidence of failure so pronounced, so impossible to deny, that we must face that which so many have worked so hard to deny for so long. 

The best way I can describe this is by observation. In the Northeast of the US, and in many other parts of the country, everywhere you go, right now, you see sick people milling around. They don’t admit it and they don’t talk about it with strangers simply because there is such shame attached to having Covid. They complain of a cold, of a flu, or just suffer in silence. But there it is. 

After nearly two years of work to control the spread, after brutal shutdowns of the whole country – shutdowns that happened two years too early, as judged by actual case trends (but of course lockdowns never should have been considered in the first place) – Covid is here. Not just here. It is everywhere. The case counts are beyond anything anyone on the planet could have imagined a year or two ago. The spikes make everything that came before look like child’s play. 

Here is the global chart. 

https://ourworldindata.org/explorers/coronavirus-data-explorer?zoomToSelection=true&time=2020-03-01..latest&facet=none&pickerSort=desc&pickerMetric=new_cases_smoothed_per_million&hideControls=true&Metric=Confirmed+cases&Interval=7-day+rolling+average&Relative+to+Population=true&Align+outbreaks=false&country=USA~GBR~AUS

And we are talking really sick. Not so much death. Not even out-of-control hospitalization. We are talking about being sick in bed or walking around with misery. The nasty bug lasts maybe two days, maybe two weeks, maybe longer but it is vexing and wicked, not like a cold or flu but something more electric and strange. 

Which variant? Two weeks ago, the CDC wanted to blame it all on Omicron. That is no longer possible. Perhaps that constitutes 20%; we just do not know for sure because tracking is so weak. Most of it is evidently Delta, meaning very sick but with no serious loss of taste and smell. Most everyone eventually gets well, and that’s what happens here. 

We get to endemicity perhaps in a month or so and life will move on, my experts tell me, at least in some areas of the country. What’s striking and truly shocking is that all of the efforts, all of the propaganda, all of the astonishing spending and compulsion – the shutdowns, masking, size limits, travel restrictions, vaccination requirements, the track and trace, the endless testing, the enforcement, the intimidations, the censorship – and what do we have to show for it?

Lockdown architect Carter Mecher promised us as follows:

“If you got everyone and locked each of them in their own room and didn’t let them talk to anyone, you would not have any disease.”

They attempted a version of that, experimenting on the human population in ways without precedent. And let’s say that is true (it probably isn’t). That is not life. That is not society. That is not freedom. That is something else unimaginably horrific. 

It was unsustainable. They pushed their theory without regard to the history of public health or, really, the whole of human experience. And now, the true pandemic finally arrived. And what is it? There are a ton of sick people. People are calling in sick because they cannot come to work. Institutions are having to shut down, not because government closed them but because people are too sick to come to work. This is the normal course of events – exactly what one would expect in a pandemic. 

And it’s not just Covid. The head of an Indiana life insurance company reports that deaths among people aged 18-64 are up 40%, an astonishing increase. It’s suicide, drug overdoses, and every other manner of horror. And that’s just death. Many others are just sick from other things. 

I personally know dozens and they each know many dozens of more people in the Northeast right now who are down for the count, miserable and pathetic, but still testing negative for Covid. Why would this be? It’s because immune systems have decayed over two years. The lack of vitamin D, the lack of exposure to normal germs in life, the isolation and depression, the overconsumption of liquor and drugs – it’s all been a terrible drain on health. 

Meanwhile, the actual pandemic of Covid has certainly arrived. And it is far worse than the data indicated. Look at Massachusetts, New York, Pennsylvania, Rhode Island, Connecticut, any of these states, and including some Southern and Midwestern states, and what you find is increases of 500-1,000% in cases. And keep in mind that these are just cases as discovered by official testing spots. 

Go to any CVS or Walgreens and you find long lines of people buying testing kits. If they are available. If they are not, the wait is weeks. They are $23 a kit and people are buying as many as possible. Why? Partially it’s because employers and schools are demanding negative tests, but it is also just curiosity. People are sick as dogs and want to confirm their illnesses. 

People are estimating that real cases are 50x to 100x what the official data say. 

But let’s talk now about a real scandal. When you are sick, you need treatment. Every competent medical professional I know is pretty darn sure that the best hope for dealing with Covid is a combination of Zinc, Vitamin D, and (sorry to mention the dreaded name) Ivermectin. This is not ideological. This is what experienced doctors are saying right now. I’m on many email lists with serious medical professionals and they are all saying the same thing. We can add HCQ to the list if you catch it early enough. 

But here’s the kicker – and let me be clear that I’m NOT giving ANY medical advice here, merely just reporting the sense of the community out there.

What’s remarkable is that people are having a very difficult time getting these basic therapeutics.

Vaccines are everywhere but things to make you well once the virus penetrates the vaccine? Those are hard to come by. 

There is a problem getting a prescription because state medical boards are actually barring people and preventing them from serving patients if they prescribe HCQ or Ivermectin, as incredible as that sounds. But once you get the prescription – if you have a doctor brave enough to risk it – finding a pharmacy to fill it is another challenge. 

Most people in the UK today are getting their therapeutics from India. Americans get them from Mexico. And some are shipping to the US and they are being distributed via gray markets for anyone who is lucky enough to have a contact. It’s a speakeasy nation but this time for distributing basic therapies. 

I feel like I’ve seen horrible things for almost two years now, and you feel the same way. But of all the scandals, and there are so many, this one seems to top the list, namely that once the real pandemic has arrived, there are no effective medicines that are widely available. Doctors are actually being blocked from doing their jobs. 

Beyond belief. But you know this. I’m sure you have your own stories. I suspect that many of our readers have encountered this virus for the first  time in the last two weeks and have dealt with the horrors of just getting basic medicines to get through this. 

The NIH has funded almost no serious trials of these generic drugs. It is not in the interest of pharmaceutical companies to fund them either. As a result, we are truly at a loss – nearly two years into a pandemic at a time when people need meds more than ever. 

Meanwhile, the FTC is spending its time cracking down on pharmacies that advertise that they have therapeutics available for people. They are sending cease and desist letters all over the country as a way of intimidating providers. I’ve seen these letters. They have invited me to post them but I’ve declined in the interest of keeping people out of trouble.  

One merciful upside to all of this is that there is no more talk of lockdowns. At last, even the experts are saying that society must function. Lockdowns are not even being considered. The whole country is fed up with the phony baloney enterprise of virus control. It did not and cannot work. 

Nearly two years ago, they deployed a new experiment in stopping a pathogen. It was a plan that was 15 years in the making, hatched by fanatics who imagined that state policy could outwit a virus. 

The wreckage was astonishing, and yet what was the payoff? Here we are today with a wave of sickness that defies every prediction, and with collateral damage beyond even the worst predictions (including my own). And the truth of this is all over the data that anyone can see and the stories that anyone can hear. 

The country is right now sicker than it has ever been in our lifetimes. 

What a stunning repudiation of state policy – the worst failing of public health and public policy perhaps in the history of the US if not the entire world. We are right now living in its last days. Remember these days, my friends. They are legion and mark what is likely the end of the great fiasco. 

And yet it is not really the end. There will be decades of hell to pay for what has happened to us.

END 

Dr Jay Bhattacharya and Dr Martin Kulldorff authors of the Great Barrington Declaration outline the Collins/Fauci attack on traditional public health. They state that Collins and Fauci did everything they could to bar the use of the Barrington Declaration

(Bhattacharya//Kulldorff) 

The Collins And Fauci Attack On Traditional Public Health

 MONDAY, JAN 03, 2022 – 09:00 PM

Authored by Jayanta Bhattacharya and Martin Kulldorff via The Epoch Times,

On Oct. 4, 2020, with Prof. Sunetra Gupta of Oxford University, we wrote the Great Barrington Declaration (GBD). Our purpose was to express our grave concerns over the inadequate protection of the vulnerable and the devastating harms of the lockdown pandemic policy adopted by much of the world; We proposed an alternative strategy of focused protection.

The key scientific fact on which the GBD was based—a more than thousand-fold higher risk of death for the old compared to the young—meant that better protection of the old would minimize COVID deaths. At the same time, opening schools and lifting lockdowns would reduce the collateral harm to the rest of the population.

The Declaration received enormous support, ultimately attracting signatures from over 50,000 scientists and medical professionals and over 800,000 members of the public. Our hope in writing was two-fold.

  • First, we wanted to help the public understand that—contrary to the prevailing narrative—there was no scientific consensus in favor of lockdown. In this, we succeeded.
  • Second, we wanted to spur a discussion among public health scientists about how to better protect the vulnerable, both those living in nursing homes (where ~40 percent of all COVID deaths have occurred) and those living in the community. We provided specific proposals for focused protection in the GBD and supporting documents to spur the discussion. Though some in public health did engage civilly in productive discussions with us, in this aim we had limited success.

Unbeknownst to us, our call for a more focused pandemic strategy posed a political problem for Dr. Francis Collins and Dr. Anthony Fauci. The former is a geneticist who, until last week, was the director of the U.S. National Institutes of Health (NIH); the latter is an immunologist who directs the National Institute of Allergy and Infectious Diseases (NIAID). They are the biggest funders of medical and infectious disease research worldwide.

Collins and Fauci played critical roles in designing and advocating for the pandemic lockdown strategy adopted by the United States and many other countries. In emails written four days after the Great Barrington Declaration and disclosed recently after a FOIA request, it was revealed that the two conspired to undermine the Declaration. Rather than engaging in scientific discourse, they authorized “a quick and devastating published takedown” of this proposal, which they characterized as by “three fringe epidemiologists” from Harvard, Oxford, and Stanford.

Across the pond, they were joined by their close colleague, Dr. Jeremy Farrar, the head of the Wellcome Trust, one of the world’s biggest non-governmental funders of medical research. He worked with Dominic Cummings, the political strategist of UK prime minister Boris Johnson. Together, they orchestrated “an aggressive press campaign against those behind the Great Barrington Declaration and others opposed to blanket COVID-19 restrictions.”

Ignoring the call for focused protection of the vulnerable, Collins and Fauci purposely mischaracterized the GBDl as a “let-it-rip” “herd immunity strategy,” even though focused protection is the very opposite of a let-it-rip strategy. It is more appropriate to call the lockdown strategy that has been followed a “let-it-rip” strategy. Without focused protection, every age group will eventually be exposed in equal proportion, albeit at a prolonged “let-it-drip” pace compared to a do-nothing strategy.

When journalists started asking us why we wanted to “let the virus rip,” we were puzzled. Those words are not in the GBD, and they are contrary to the central idea of focused protection. It is unclear whether Collins and Fauci ever read the GBD, whether they deliberately mischaracterized it, or whether their understanding of epidemiology and public health is more limited than we had thought. In any case, it was a lie.

We were also puzzled by the mischaracterization of the GBD as a “herd immunity strategy.” Herd immunity is a scientifically proven phenomenon, as fundamental in infectious disease epidemiology as gravity is in physics. Every COVID strategy leads to herd immunity, and the pandemic ends when a sufficient number of people have immunity through either COVID-recovery or a vaccine. It makes as much sense to claim that an epidemiologist is advocating for a “herd immunity strategy” as it does to claim that a pilot is advocating a “gravity strategy” when landing an airplane. The issue is how to land the plane safely, and whatever strategy the pilot uses, gravity ensures that the plane will eventually return to earth.

The fundamental goal of the GBD is to get through this terrible pandemic with the least harm to the public’s health. Health, of course, is broader than just COVID. Any reasonable evaluation of lockdowns should consider their collateral damage to patients with cancer, cardiovascular disease, diabetes, other infectious diseases, as well as mental health, and much else. Based on long-standing principles of public health, the GBD and focused protection of the high-risk population is a middle ground between devastating lockdowns and a do-nothing let-it rip strategy.

Collins and Fauci surprisingly claimed that focused protection of the old is impossible without a vaccine. Scientists have their own specialties, but not every scientist has deep expertise in public health. The natural approach would have been to engage with epidemiologists and public health scientists for whom this is their bread and butter. Had they done so, Collins and Fauci would have learned that public health is fundamentally about focused protection.

It is impossible to shut down society completely. Lockdowns protected young low-risk affluent work-from-home professionals, such as administrators, scientists, professors, journalists, and lawyers, while older high-risk members of the working class were exposed and died in necessarily high numbers. This failure to understand that lockdowns could not protect the vulnerable led to the tragically high death counts from COVID.

We do not know why Collins and Fauci decided to do a “take down” rather than use their esteemed positions to build and promote vigorous scientific discussions on these critical issues, engaging scientists with different expertise and perspectives. Part of the answer may lie in another puzzle—their blindness to the devastating effects of lockdowns on other public health outcomes.

Lockdown harms have affected everyone, with an extra heavy burden on the chronically ill; on children, for whom schools were closed; on the working class, especially those in the densely populated inner cities; and on the global poor, with tens of millions suffering from malnutrition and starvation. For example, Fauci was a major advocate for school closures. These are now widely recognized as an enormous mistake that harmed children without affecting disease spread. In the coming years, we must work hard to reverse the damage caused by our misguided pandemic strategy.

While tens of thousands of scientists and medical professionals signed the Great Barrington Declaration, why didn’t more speak up in the media? Some did, some tried but failed, while others were very cautious about doing so. When we wrote the Declaration, we knew that we were putting our professional careers at risk, as well as our ability to provide for our families. That was a conscious decision on our part, and we fully sympathize with people who instead decided to focus on maintaining their important research laboratories and activities.

Scientists will naturally hesitate before putting themselves in a situation where the NIH Director, with an annual scientific research budget of $42.9 billion, wants to take them down. It may also be unwise to upset the director of NIAID, with an annual budget of $6.1 billion for infectious disease research, or the director of the Wellcome Trust, with an annual budget of $1.5 billion. Sitting atop powerful funding agencies, Collins, Fauci, and Farrar channel research dollars to nearly every infectious disease epidemiologist, immunologist, and virologist of note in the United States and UK.

Collins, Fauci, and Farrar got the pandemic strategy they advocated for, and they own the results together with other lockdown proponents. The GBD was and is inconvenient for them because it stands as clear evidence that a better, less deadly alternative was available.

We now have over 800,000 COVID deaths in the United States, plus the collateral damage. Sweden and other Scandinavian countries—less focused on lockdowns and more focused on protecting the old—have had fewer COVID deaths per population than the United States, the UK, and most other European countries. Florida, which avoided much of the collateral lockdown harms, currently ranks 22nd best in the United States in age-adjusted COVID mortality.

In academic medicine, landing an NIH grant makes or breaks careers, so scientists have a strong incentive to stay on the right side of NIH and NIAID priorities. If we want scientists to speak freely in the future, we should avoid having the same people in charge of public health policy and medical research funding.

end

CDC now admits that 61% of teens hospitalized for COVID 19 had severe obesity

(Siave//Reason.com)

CDC Admits 61% Of Teens Hospitalized For COVID-19 Had Severe Obesity

 TUESDAY, JAN 04, 2022 – 08:15 AM

Authored by Robby Soave via Reason.com,

One of the only silver linings of the pandemic has been that young people are less affected by COVID-19 than the elderly. In fact, the most vital indicator of negative COVID-19 outcomes is age: Unlike the Spanish flu, which ravaged armies that were overwhelmingly comprised of otherwise healthy young people during World War I, COVID-19’s death toll is dramatically skewed toward those who have already lived many years. (For context, the average age of death from Spanish flu was 28.)

That said, about 600 Americans under the age of 18 have died of COVID-19 during the pandemic. A new study from the Centers for Disease Control and Prevention (CDC) took a closer look at young people who were hospitalized for COVID-19 in July and August, while the delta variant wave took hold, and largely found that healthy young people continue to mostly evade the worst of COVID-19.

The study found that most young people who suffer severe COVID-19 outcomes had underlying health conditions. The most common, especially for teenagers, was obesity.

“Among patients aged 12–17 years, 61.4 percent had obesity,” according to the study, “60.5 percent of whom had severe obesity.”

The study looked at six U.S. hospitals—all of them in the American South—and evaluated 915 cases of COVID-19 in adolescents that required hospitalization. The vast majority were hospitalized for COVID-19, though some had other infections as well. Of the 713 patients who were primarily hospitalized for COVID-19, two-thirds had at least one underlying health condition. For the teenage cohort—patients at least 12 years of age—the obesity rate was 61.4 percent. The severe obesity rate was 60.5 percent. Just one of the eligible patients had been vaccinated, and 11 patients died in total.

What this means, of course, is that COVID-19 can be a fatal disease, even for young people – but vaccine status and general health are extremely important variables. It remains the case that healthy children who do not have underlying health conditions—particularly obesity—are by and large safe from negative COVID-19 health outcomes.

“Compared with patients without obesity, those with obesity required higher levels and longer duration of care,” wrote the study’s authors.

“These findings are consistent with previous reports and highlight the importance of obesity and other medical conditions as risk factors for severe COVID-19 in children and adolescents.”

One of the best ways to guard against obesity is to encourage healthy eating and active lifestyles among the youth population. Exercise is not a panacea, but kids who play sports or engage in physical activity are less likely to become obese. Physically active kids tend to have better diets than those who stay indoors all day, glued to their screens.

It’s important to perform this reality check—the more healthy and active kids are, the less COVID-19 threatens them—given just how much the lives of young people were upended by pandemic mitigation efforts. In the name of slowing COVID-19’s spread, public health authorities closed schools, shuttered extracurricular activities, and instructed young people to remain by themselves, indoors. Even benign activities like playing at the park were discouraged for the first few months of the pandemic. And while many activities have resumed, some college campuses (for instance) would rather their student populations quit sports than dare to do them unmasked.

Those who have rule-making power over young people would be well-advised to consider whether the purported cure is worse than the disease—and whether it actually makes the disease more dangerous for some. Young people need socialization and activity. They need a reason to put down their smartphones and venture out into the world. It is not in the interests of public health to keep them shut up in their bedrooms and dormitories for long periods of time.

As the super infectious—though seemingly more mild—omicron variant threatens to force public health officials to re-implement stringent mitigation measures, that’s worth keeping in mind.

end

Two Nordea bank analysts have been suspended for questioning vaccines and criticizing lockdowns

(zerohedge)

2 Nordea Strategists Suspended For Questioning Vaccines & Criticizing “Lockdownistas”

 TUESDAY, JAN 04, 2022 – 04:15 AM

It’s the biggest embarrassment perpetrated by a European sell-side analyst since the Paul Donovan “Chinese Pig” fiasco.

A pair of senior Nordea analysts have been suspended due to a retracted research report that raised questions about vaccines, lockdowns and other aspects of the COVID response that the bank’s management has said should be left up to the “authorities” to decide. At one point, the two strategists criticized European officials who were calling for extended lockdowns “lockdownistas.

Here’s more from Bloomberg:

Nordea Bank Abp has suspended two senior analysts from publishing after retracting a controversial research note in which they referred to governments battling Covid-19 as “lockdownistas” and questioned the efficacy of the vaccines.

“We have initiated an internal review, and the two analysts will not write or publish during the review,” the Helsinki-based bank said on Friday.

The Nordic region’s biggest bank on Wednesday removed the note by Chief Analyst Martin Enlund and Global Chief Strategist Andreas Steno Larsen from its website, after it caused a stir on Twitter and a member of the Finnish parliament, Mikko Karna, questioned its contents. Among the statements made in the note was that “the vaccine is apparently so good that you need to force people into taking it.”

Even if they’re used to illustrate a point, or simply as a sarcastic quip, when it comes to vaccines, jokes about “bodily autonomy”, “lockdownistas”, prison colonies, and showing “papers” – or anything implying that anti-vaxxers are being unjustly singled out for persecution – are simply not allowed.

Nordea has apparently learned its lesson, as the two well-respected analysts have been dumped overboard. Martin Persson, head of Large Corporates & Institutions at Nordea, apologized for the note, saying the Helsinki-based bank will continue to “publish credible analysis and research with integrity.”

And when it comes to COVID, it would continue to delegate to the authorities on all matters of COVID policy.

“As a bank, our expertise is banking – supporting and advising our customers on their financial situation,” Persson said in a statement. “We leave medical advice to the experts and therefore, as a company, we follow the authorities’ guidance on vaccines against COVID.”

When the note was first published, it caught the attention of several Finnish notables, including one Finnish PM.

Enlund, 45, joined Nordea in 2014 as chief analyst, but previously worked at Svenska Handelsbanken for nine years doing economic analysis. Steno Larsen has spent more than 10 years at Nordea in various foreign exchange market roles, working his way up the ranks before becoming chief global strategist on macro, FX and rates in February 2020.

Both have frequently criticized official responses to the pandemic both in their research, and on Twitter. And while the Finnish government is surely an important client for Nordea, shouldn’t the bank’s analysts at least occasionally focus on trying to educate clients, rather than appeasing the government?

END

CANADA

Unbelievable!!

special thanks to Robert H for sending this to us!

Soviet Canada: Doctor Locked in Psych Ward Who Exposed Stillbirth Explosion in ‘Vaccinated’ Moms (Interview)

 Faye HigbeeJanuary 3, 20224 comments3 min read

The Soviet Union often claimed that dissidents had “mental issues” and would lock them up in asylums, keep them drugged, and eventually they would die.

In November, Dr. Melvin Bruchet and his friend, Dr. Daniel Nagase, filed criminal charges against elected and appointed Candian government officials in British Columbia over a possible conflict of interest regarding provincial lockdowns, vaccine mandates, and vaccine passports. The doctors exposed a severe spike in stillbirths at a Vancouver hospital. The women were injected with the experimental Covid “vaccine” in all cases. In December 2021, the Canadian government targeted Dr. Melvin Bruchet and unlawfully placed him in detention against his will.

Stillbirths Explode in Canada 

In November 2021, RAIR Foundation USA reported that stillbirths in fully “vaccinated” women are exploding in Canada,

….in Waterloo, Ontario, 86 cases have been reported in six months, compared to typically five to six per year, says doctor Daniel Nagase. “That is highly unusual.”

At Lions Gate Hospital in Vancouver, British Columbia, 13 stillbirths were recorded over 24 hours, reported the doctor. Until recently, Dr. Nagase worked at an Alberta hospital but said he was fired after treating three covid patients with ivermectin at the Rimbey Hospital and Care Centre.” 

Soviet Style Detention

On December 8, Dr. Bruchet had an argument with a tenant over loud music in his apartment building (a relatively common occurrence). It is unclear whether the tenant reported him as a candidate for the mental health act or someone else. Suddenly, Dr. Bruchet was targeted by the Royal Canadian Mounted Police (RCMP).

While Dr. Nagase was being interviewed in his home, three RCMP squad cars and six RCMP officers descended on Dr. Bruchet and hauled him off in handcuffs for a “psych evaluation.” 

The first diagnosis made by the hospital was “frontal lobe dementia” after taking a PET scan. According to Dr. Nagase, such a situation normally does not warrant detention – just diagnosis and sending the individual home. Since Bruchet is 81, anyone outside the situation might assume that was correct. It was not.

Dr. Nagase was apprised of the situation and managed to get him out of the Psych ward on a day pass with the promise of returning on his own recognizance. Dr. Bruchet returned due to the hospital’s threats they would send the police after him.

The hospital then did a second evaluation and diagnosed him with “mania,” a condition that presumes the person may have outbursts and perhaps even be dangerous. They then took away the doctor’s phone access.

Dr. Nagase was concerned that the hospital might have given him Abilify, a medicine often used to treat mental and mood disorders that should not be given to elderly patients. In addition, the doctor was concerned because Dr. Bruchet was abnormally slurring his words. A common side effect of the powerful anti-psychotic medication.

The Soviet Union notoriously used psychiatric medicine to discredit dissidents. The Soviets often claimed that dissidents had “mental issues” and would lock them up in asylums, keep them drugged, and eventually they would die. How is this any different?

The question remains: was Dr. Bruchet unlawfully detained because he exposed the connection of stillbirths to the Covid vaccines? Or because he argued with his tenant over loud music? Or was Dr. Bruchet’s age a convenient excuse? “Dr. Mel,” as he is affectionately known, practiced medicine for many years in British Columbia.

END

VACCINE IMPACT


Crisis in America: Deaths Up 40% Among Those Aged 18-64 Based on Life Insurance Claims for 2021 After COVID-19 Vaccine Roll Outs

January 3, 2022 5:13 pm

Finally, the “elephant in the room” that nobody wanted to discuss in 2021 regarding labor shortages and supply chain bottlenecks, which is that record number of younger people in the workforce were dying after the roll-out of the COVID-19 “vaccines,” can no longer be swept under the rug as statistics are being published that reveal a huge crisis developing in the United States. Scott Davison, the CEO of OneAmerica, a $100 billion insurance company based out of Indiana, has come out publicly and stated that based on life insurance claims, the death rate has skyrocketed an unprecedented 40% among those between the ages of 18 and 64, based on the 3rd quarter and into the 4th quarter of 2021. Margaret Menge reports from The Center Square: The head of Indianapolis-based insurance company OneAmerica said the death rate is up a stunning 40% from pre-pandemic levels among working-age people. “We are seeing, right now, the highest death rates we have seen in the history of this business – not just at OneAmerica,” the company’s CEO Scott Davison said during an online news conference this week. “The data is consistent across every player in that business.” Davison said the increase in deaths represents “huge, huge numbers,” and that’s it’s not elderly people who are dying, but “primarily working-age people 18 to 64” who are the employees of companies that have group life insurance plans through OneAmerica. “And what we saw just in third quarter, we’re seeing it continue into fourth quarter, is that death rates are up 40% over what they were pre-pandemic,” he said. “Just to give you an idea of how bad that is, a three-sigma or a one-in-200-year catastrophe would be 10% increase over pre-pandemic,” he said. “So 40% is just unheard of.”Read More…


end

GLOBAL STORIES//COVID

end


Michael Every with today’s most important topics

Michael Every.// Stefan Koopman

Rabobank: After Two Very Unusual Years, 2022 Might Be The Year That Finally Reveals The True State Of The Economy

 TUESDAY, JAN 04, 2022 – 09:30 AM

By Stefan Koopman, Senior Macro Strategist at Rabobank

Happy New Year from RaboResearch! We wish you all a healthy, happy and successful year, and hope that you will stay with us throughout 2022.

The first trading day of this year was a rather quiet one in terms of news, with relatively thin liquidity and significantly below average volumes as markets were closed in Japan, China and in the United Kingdom. Elsewhere in Europe and in the United States, investors picked up more or less from where they left off in 2021, meaning that the risk mood was generally positive. Bonds slumped and equities reached fresh record highs. The MSCI World index rose 0.3%. This is, of course, far from any reliable indication of how the rest of the year is going to play out: the global index rose 0.7% on the first day of trading in 2020, while it fell 0.7% as 2021 commenced. It’s just another day, really.

That said, it is a new year, P&L’s are back at zero, so the financial punditocracy is invited to identify the risks in store for 2022. This typically culminates into an extended list of “known unknowns”, which, by its very definition, isn’t particularly revealing. However, the impact of this type of risk is still potentially large, as long as it is not fully priced. The most prominent one is the Fed overcompensating for its fears of a looming wage-price spiral, which could push the global economy back into a recession. But what about the increasingly tight and demanding labor markets; or the numerous scenarios in which distorted consumption patterns, supply-chain snarls and inflationary pressures don’t normalize anytime soon; or China continuing to fight last years’ war as it obstinately pursues a zero-Covid policy; or the simultaneous reversal of fiscal stimulus in *all* developed economies; or a Europe without energy or direction just as Merkel breaks in her new hiking boots? And what about Russia, Ukraine, Iran, Turkey, Afghanistan or climate change? Let alone the unknown unknowns… the commentariat hardly ever gives those a mention ;-)!

The overall consensus is that global growth will ease, that the easy money has already been made, and that the expected return per unit of risk moderates. We forecast global GDP growth for 2022 at 3.9%, down from 5.6% last year, as the low-hanging fruit of re-opening has been consumed and supply bottlenecks and higher prices for tradable goods and commodities curb discretionary spending. That said, although global inflation remains elevated well into 2022, we remain of the view that a return to wage-price spirals in major economies seems improbable and that price pressures will weaken (or reverse?) without central bank interventions once market forces are able to ease supply chain problems. That would mean inflation is *transitory* after all.

So long as inflation does indeed appear to be receding, global bond markets should be able to weather some modest monetary policy tightening. In fact, as our Rates team has outlined time and again, we do believe that central bank efforts to tackle supply-side price pressures by curtailing demand through tighter financial conditions is only likely to strengthen the already clear market message that inflation is set to retreat from its current lofty levels over the longer run. Even though US inflation accelerated to a 40-year high of 6.8% in November, this helps to explain the notable flatness of the Treasury curve even before policy normalization has commenced. The economy may not have the capacity to sustain a “normal” policy tightening cycle if demand is indeed softening with uncustomary rapidity. This is what makes 2022 particularly interesting: after two very unusual years, which didn’t remotely resemble anything of a regular business cycle, it might be the year that finally reveals the underlying health of the economy.

Day ahead

Earlier this morning, China’s Caixin Manufacturing PMI came in at 50.9 in December, up from 49.9 in November and reaching its highest level since June. The survey notes that output rose at its quickest rate in the past year as supply constraints and inflationary pressures eased. This chimed with the latest batch of manufacturing PMIs in Europe and the US, which indicated that supply bottlenecks and delivery times improved. That said, in China, future output expectations hit its lowest point since April 2020 as firms worry about the potential shock to supply chains of Covid-19 outbreaks. Note that the one in the city of Xi’an –a major industrial hub– caused authorities to enact sweeping restrictions on a scale rarely seen since Wuhan. 

Our commodity strategist Ryan Fitzmaurice notes that oil markets are gearing up for what is likely to be an exciting year with expectations for both oil supply and demand to grow meaningfully in the months ahead. In fact, global oil demand is widely expected to reach new all-time highs above the 100mb/d mark in 2022, while the supply-side will largely be dependent on OPEC and its allies. The group will decide today on output levels for February. A continuation of the current pact, which is to increase oil output by 400kb/d per month until pre-pandemic levels are achieved, is to be expected. It is however worth noting that even if the group agrees to increase production quotas, realized output might underperform given recent production issues in Libya and Nigeria. 

The National Bank of Poland will probably be the first central bank to raise interest rates this year. The consensus sees it raising its benchmark rate by 50 bps to 2.25% at today’s MPC as it seeks to curb inflation, which is expected to have exceeded 8% y/y in December. Recall that the benchmark rate was just 0.1% in September. 

In the US, the focus will be fully on the ISM Manufacturing report. The headline and the prices paid indexes may grab all attention, but it’s worth keeping an even closer eye on the data and anecdotal evidence on new orders, inventories and deliveries to see whether the demand-driven yet supply chain-constrained environment indeed starts to balance.

The JOLTS report is also up for today. This one doesn’t get much love from investors, as it lags the nonfarm payrolls more than a month, but it really is a treasure trove of labor market data. It is expected that the November figures show that job openings (11.05mn expected) continue to outstrip unemployment (7.4mn), which indicates that the labor market is unusually tight and the unemployment rate is set to decline further.

end 

7. OIL ISSUES

OPEC to hike outpt another 400,000 barrels(zerohedge)

OPEC+ Sticks With Existing Agreement, Will Hike Oil Output By Another 400K Bpd

 TUESDAY, JAN 04, 2022 – 09:45 AM

In what may have been one of the shortest meetings in OPEC+ history, the oil cartel and its allies agreed to restore more halted production as the outlook for global oil markets improved, with demand largely withstanding the new coronavirus variant.

The 23-nation alliance led by Saudi Arabia and Russia approved another 400,000 barrel-a-day increase scheduled for February at a meeting on Tuesday, according to a statement published after today’s meeting. The group is sticking to its plan to gradually restore output halted during the pandemic after its analysts predicted a smaller surplus this quarter than previously expected. The full statement is below:

24th OPEC and non-OPEC Ministerial Meeting No 02/2022

Following the formal conclusion of the 23rd OPEC and non-OPEC Ministerial Meeting (ONOMM) held via videoconference on Thursday December 2, 2021, and in view of current oil market fundamentals and the consensus on its outlook, the OPEC and participating non-OPEC oil-producing countries:

  1. Reaffirm the decision of the 10th OPEC and non-OPEC Ministerial meeting on 12th April 2020 and further endorsed in subsequent meetings including the 19th OPEC and non-OPEC ministerial meeting on the 18th July 2021.
  2. Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th OPEC and non-OPEC Ministerial Meeting and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of February 2022, as per the attached schedule.
  3. Reiterate the critical importance of adhering to full conformity and to the compensation mechanism taking advantage of the extension of the compensation period until the end of June 2022. Compensation plans should be submitted in accordance with the statement of the 15th OPEC and non-OPEC Ministerial Meeting.
  4. Decided to hold the 25th OPEC and non-OPEC Ministerial Meeting on 2 February 2022.

The decision was fully priced in, and the price of Brent rose to session highs, reversing all SPR-release losses as global fuel consumption continues to recover from 2020’s collapse as rising traffic and factory activity across key Asian consuming countries and dwindling crude inventories in the US boost oil prices..

AS Bloomberg notes, OPEC+ had already restarted about two-thirds of the production it halted in the early stages of the pandemic. The alliance is seeking to drip-feed the remainder at a pace that will satisfy the recovery in fuel consumption — and stave off any inflationary price spike — without sending the market into a new slump.

That said, there are questions about whether OPEC+ will can actually deliver the full monthly increment, given the recent struggles of some members such as Angola and Nigeria to hit their production targets. Just 130,000 barrels a day of additional OPEC+ crude are likely to hit the market in January, followed by 250,000 barrels a day in February, according to Amrita Sen, chief oil analyst and co-founder at Energy Aspects Ltd.

Meanwhile, while OPEC+ expects a supply glut to emerge this month, it appears to be smaller than previously thought. The increasing price premium of near-term Brent crude futures over later-dated contracts suggest the market remains tight. Production will exceed demand worldwide by 1.4 million barrels a day in the first three months of the year, the group’s Joint Technical Committee concluded on Monday, compared with 1.9 million in its previous assessment.

The cartel isn’t concerned about adding barrels at a time of surplus because fuel inventories are currently at low levels and typically replenish during the seasonal demand lull, according to a delegate. Stockpiles in developed nations were 85 million barrels below their average from 2015 to 2019 as of November, according to the JTC.   At a separate and very brief online meeting on Monday, OPEC ministers appointed veteran Kuwaiti oil executive Haitham Al-Ghais as its new top diplomat, to assume the post in August after the term of its current Secretary-General Mohammad Barkindo expires.Natural gas output through the pipelines plunges with the new cold snap and this caused USA natural gas prices to rise

END

(zerohedge)

Deja Vu? Texas NatGas Output Plunges Amid Cold Snap

 MONDAY, JAN 03, 2022 – 10:00 PM

U.S. natural gas futures rose late in the session on new data that showed a plunge in pipeline gas flows in Texas, which indicates the state’s power grid could be susceptible to failures amid a cold snap. 

Front-month gas futures are up more than 3% to $3.84 around 1445 ET as commodity traders assess the situation in Texas. 

“Production of the heating and power generation fuel in Texas fell on Sunday to the lowest since February’s freeze — when millions were sent into the dark for days — after temperatures plunged,” BloombergNEF pipeline data showed. Flows are expected to rebound when temperatures rebound. 

Temperatures in The Lone Star State are expected to rebound in the coming days. 

However, warmer weather might not return to much of the U.S. until next Tuesday. Mean temperatures will oscillate around a 30-year average for the next eight days, occasionally dipping to below-average levels. The coldest point is between Jan. 8-11. 

Heating degree days for the U.S. show cold weather will increase the demand for energy to heat building structures. 

A plunge in gas supplies comes right after the Electric Reliability Council (ERCOT) of Texas said the power grid is “winterized and ready to provide power.” 

Last February, a cold snap froze wellhead across the state that parazyled gas flows. Power plants couldn’t get enough fuel to spin turbines, and combine that with extraordinarily high power demand from customers to stay warm, the grid was minutes from collapse — forcing ERCOT, the grid operator — to implement rolling blackouts. 

Despite ERCOT’s confidence that grid stability can be achieved this winter, keep an eye on Texas and pray for warmer weather; if not, another energy crisis could be nearing

end

8 EMERGING MARKET& AUSTRALIA ISSUES

Australia////  NEW ZEALAND/ SOUTH AFRICA/BRAZIL//COVID/VACCINES/LOCKDOWNS

SOUTH AFRICA

end

Your early  currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings TUESDAY morning 7:30 AM

Euro/USA 1.1279 DOWN .0022 /EUROPE BOURSES //ALL GREEN 

USA/ YEN 116.29  UP  0.963 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3487  UP   0.0006

Last night Shanghai COMPOSITE CLOSED DOWN 7.45 OR .20% 

//Hang Sang CLOSED UP 15.09 PTS OR 0.06%

/AUSTRALIA CLOSED UP 1.90%   // EUROPEAN BOURSES OPENED ALL GREEN

Trading from Europe and ASIA

I)EUROPEAN BOURSES ALL GREEN  

2/ CHINESE BOURSES / :Hang SANG  CLOSED UP 15.09 OR .53% PTS OR 0.06%

/SHANGHAI CLOSED DOWN 7.43  PTS OR 0.20%

Australia BOURSE CLOSED UP 1.90%

3(Nikkei (Japan) CLOSED UP 510.08 PTS OR 1.77%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1802.70

silver:$22.74-

USA dollar index early TUESDAY morning: 96.42  UP 21  CENT(S) from MONDAY’s close.

This ends early morning numbers TUESDAY MORNING

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And now your closing TUESDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.50% UP 0  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +0.089% UP 1 AND 7/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.58%// UP 0  in basis points yield from yesterday.

ITALIAN 10 YR BOND YIELD 1.22 UP 2    points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 64 points higher than Spain.

GERMAN 10 YR BOND YIELD: RISES TO -0.116% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.34% AND NOW ABOVE   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 TUESDAY

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

Euro/USA 1.1293  DOWN .0009    or 9 basis points

USA/Japan: 116.07 UP 0.744 OR YEN DOWN 39  basis points/

Great Britain/USA 1.3537 UP 56  BASIS POINTS)

Canadian dollar UP 44 pts to 1.2708

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The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED UP)..6.3548  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)..6.3780

TURKISH LIRA:  13.50  EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.

the 10 yr Japanese bond yield  at +0.089

Your closing 10 yr US bond yield UP 4 IN basis points from FRIDAY at 1.674% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

 USA 30 yr bond yield: 2.098  UP 7 in basis points 

Your closing USA dollar index, 96.15  DOWN 6   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 TUESDAY: 12:00 PM

London: CLOSED UP 108.71 PTS OR 1.47%

German Dax :  CLOSED UP 102.59 points or .64%

Paris CAC CLOSED UP 91.45 PTS OR  1.27% 

Spain IBEX CLOSED UP 27.20 PTS OR .35%

Italian MIB: CLOSED UP 162.89 PTS OR 0.59%

WTI Oil price 75.48 12: EST

Brent Oil:  78.21 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:   75.22 THE CROSS HIGHER BY  65 RUBLES/DOLLAR (RUBLE LOWER BY 65 BASIS PTS)

GERMAN 10 YR BOND YIELD; -.123

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.1288 DOWN .0014 BASIS PTS  OR 14 BASIS POINTS

British Pound: 1.3535 UP .0053

USA dollar vs Japanese Yen: 116.11 up .786

USA dollar vs Canadian dollar: 1.2701 DOWN .0050 (cdn dollar UP 50 basis pts)

West Texas intermediate oil: 77.10

Brent: 80.08

USA 10 yr bond yield: 1.6666 UP 3 points

USA 30 yr bond yield: 2.080 UP 6  pts.

USA dollar vs Turkish lira: 13,42

usa dollar vs Russian rouble: 75.30 UP 73 basis pts.

DOW JONES INDUSTRIAL AVERAGE: UP 214.59 PTS OR 0.59%

NASDAQ 100 DOWN 222.04 OR 1.35%

VOLATILITY INDEX: 16.86 UP 0.26 PTS

GLD/NYSE CLOSING PRICE $169.57 UP $1/24 OR 0.74

SLV/NYSE CLOSING PRICE: $21.32// UP $.14 OR 0.66%

USA trading day in Graph Form

Bond Bloodbath Batters Big-Tech, Sparks Bid For Banks

TUESDAY, JAN 04, 2022 – 04:02 PM

2022’s bond bloodbath continued today with 30Y smashing up to 2.10%…

Source: Bloomberg

This is the biggest 2-day surge in yields since the chaos in March 2020 amid the bailouts. It was all going so well…

30Y Yields blew through their 50-, 100-, and 200-DMAs…

Source: Bloomberg

Banks have been manically bid on the bear-steepening curve as big tech was dumped…

Source: Bloomberg

As rates continued to soar, long-duration growthy stocks were clubbed like baby seals… most especially unprofitable tech stocks tumbled to their lowest since Oct 2020…

Source: Bloomberg

Nasdaq was the day’s biggest loser, erasing all of yesterday’s gains. The S&P was unchanged and Dow was the biggest winner on the day…

Intraday, Nasdaq bounced back above its 50-DMA

But as Real Yields rise, Nasdaq (growth heavy) has a lot further to fall relative to Small Caps (value heavy)

Source: Bloomberg

For the second day in a row, ‘recovery’ stocks ripped higher at the open, then faded relative to ‘stay at home’ stocks…

Source: Bloomberg

Yesterday’s short-squeeze was unwound today…

Source: Bloomberg

Overall, it was a mixed day for bonds with the long-end significantly underperforming and more bear-steepening (2Y -1bps, 30Y +6bps)…

Source: Bloomberg

The yield curve has steepened all the way back to the Powell Pivot…

Source: Bloomberg

Bitcoin started the day off to the upside but rejected its 200DMA once again and dived to its lowest ‘close’ since Oct 2020…

Source: Bloomberg

The dollar managed modest gains today, finding support at its 50DMA once again…

Source: Bloomberg

Oil prices rallied ahead of tonight’s API inventory data, erasing all the post-Omicron losses…

Finally, in case you were wondering why mega-cap Tech is suddenly puking, Bloomberg notes that the P/E ratio of the S&P 500’s 10 largest stocks is trading near a level that marked the implosion of the dot-com bubble two decades ago.

Source: Bloomberg

Elevated valuations combined with a potential rise in bond yields and risk of slowing growth make equities more vulnerable to corrections. And with the S&P 500 Index’s top 10 biggest companies comprising nearly a third of the gauge’s total weighting, any retreat in these market behemoths could fuel a dip in the entire market.

Additionally, bond vol is at its highest relative to stock vol since 2019…

Source: Bloomberg

So where is the safe-haven?

Is Byron Wien going to be right about gold in 2022?

And it wouldn’t be fair if we didn’t show this…

Is omicron “nature’s vaccine”?

end

i) Early morning//afternoon trading

Big-Tech, Bonds, & The Buck Are All Puking

 TUESDAY, JAN 04, 2022 – 10:52 AM

Small Caps and Nasdaq are being sold hard as the US equity cash markets opened this morning, with Nasdaq erasing all of yesterdays gains…

As Treasury yields extend their rather serious spike higher…

The dollar is now puking too…

It seems 2022 is all about volatility for now.

II)USA DATA

A Record Number Of Americans Just Quit Their Job, As Job Openings Surpass Unemployed Workers By A Record 3.7 Million

 TUESDAY, JAN 04, 2022 – 10:40 AM

After nearly a full year of massive, consecutive monthly increases in job openings as employers scrambled to find qualified workers, today the BLS reported that in the past few months, the number of job openings in the US finally reached a peak, and reversed materially in November, when the latest JOLTS Job Openings and Labor Turnover data showed the biggest drop since the peak of the covid Pandemic, as a whopping 529K job openings were lost in November, the most since the 1.139 million jobs lost in April 2020. Still, even with the big drop, the total number of job openings remains a massive 10.562 million (which was below the 11.1 million expected) and not too far off the 11.1 million all time high.

Looking at the details, job openings decreased in several industries with the largest decreases in accommodation and food services (-261,000); construction (-110,000); and non-durable goods manufacturing (-66,000). Job openings increased in finance and insurance (+83,000) and in federal government (+25,000). The number of job openings decreased in the South and Midwest regions

What we find remarkable is that even despite the plunge in job openings, as a result of the parallel collapse in unemployed people, there was a new record, or 3.7  million, more vacant jobs than unemployed workers in November, confirming that the US labor market remains painfully cracked.

And with far more job openings than unemployed workers, this meant that in November there were again less than 1 unemployed workers – a record low 0.6511 to be exact – for every job opening, down from 7841 in July, and down from 0.6689 in October and down from a record high 4.6 at the peak crisis moment last April.

Offsetting the modest drop in job openings in November, we saw a modest rebound in hiring: according to the BLS, hiring rose by 191K to 6.697 million, the highest since July’s 6.761 million.

But perhaps the most interesting highlight of today’s JOLTS report was neither the openings nor the hiring activity, but rather the number of quits, which unexpectedly soared to an all time high, jumping in November by  370K to a record 4.527 million.

Quits increased in several industries with the largest increases in accommodation and food services (+159,000); health care and social assistance (+52,000); and transportation, warehousing, and utilities (+33,000). The number of quits increased in the Northeast, South, and Midwest regions.

The quits rate of 3.0%, matched a series high last seen in September, as quits increased in several industries with the largest increases in accommodation and food services (+159,000); health care and social assistance (+52,000); and transportation, warehousing, and utilities (+33,000). The number of quits increased in the Northeast, South, and Midwest regions.

As a reminder, this “take this job and shove it” indicator is generally seen as a real-time proxy of how marketable employees think they are, as they tend to quit jobs and look for higher paying occupations when the job market is red hot. And since it tends to lag peaks in job openings modestly, the surge in quits was probably not all that surprising.

-END-

Yesterday we received data on Markit which is usually bullish. Today is the other survey, ISM which is generally the more accurate one:  It unexpectedly tumbles to a 12 month low

(zerohedge)

US Manufacturing Unexpectedly Tumbles To 12-Month Low As Prices-Paid Slump

 TUESDAY, JAN 04, 2022 – 10:08 AM

After yesterday’s disappointing Markit survey of US Manufacturing, analysts expected ISM Manufacturing to print lower and its did significantly. December ISM Manufacturing printed 58.7, well below the 60.0 expected and the 61.1 prior as it caught down to the 12-month lows of Markit’s measure…

Source: Bloomberg

Moist notably, Prices Paid tumbled in December to its lowest since Nov 2020…

Source: Bloomberg

Orders dropped modestly also. The ISM’s factory production measure slipped to 59.2, the lowest since July but robust by historical standards. The pullback may reflect disruptions due to the omicron variant.

Improved delivery times and lower input prices typically indicate softer demand. However, ISM claims that the latest declines suggest capacity constraints are beginning to loosen. That’s welcome progress for manufacturers who have struggled to keep up with demand because of materials shortages, hiring challenges and transportation bottlenecks.

IIb) USA COVID/VACCINE MANDATE STORIES

New mayor EricAdams realizing the plight of his city is mulling the booster mandate program.

(zerohedge)

NYC Mayor Adams Mulls Booster Mandate To Jump-Start Big Apple’s Economy

 TUESDAY, JAN 04, 2022 – 09:15 AM

Newbie NYC Mayor Eric Adams has already promised to keep 1M+ students attending classes in person at the Big Apple’s public schools. Meanwhile, Wall Street megabanks  – including JPM and Goldman Sachs – are delaying their employees’ return to the office.

Because of all this, Mayor Adams has said the city’s vaccination requirements could be modified to move the next deadline to April.

“We will do an analysis around April based on the Department of Health and Mental Hygiene and see if we want to mandate them,” Adams said in a Monday interview on Bloomberg Television’s “Balance of Power with David Westin.”

Right now, public sector employees are required to be fully vaccinated. A vaccine mandate for private-sector workers went into place on Dec. 27, with employees required to get their second dose within 45 days or they won’t be allowed to come to their workplaces.

Adams, who became the city’s 110th mayor on Saturday, also said he was urging banks and other businesses who are letting employees work from home during the winter COVID spike to bring those workers back to the office instead. 

Many are worried that NYC’s critically important financial ecosystem could face a serious threat in the coming

“That accountant from a bank that sits in an office, it’s not only him, it’s our financial ecosystem. He goes out to the restaurant. He brings the business travel, which is 70% of our hotel occupancy. He participates in the economy,” Adams said.

At least Mayor Adams is willing to admit that the Big Apple needs higher office occupancy rates to return to the thriving.

“They cannot remotely do their jobs. I need companies back open and operating. You cannot run a city like New York on 30% occupancy in buildings,” Adams said.

That’s something to keep in mind

end

Our children are much safer in school than at home.

(zerohedge)

.

“Your Kids Are Safer In School” – NYC Reopens Schools As Thousands Of Districts Remain Closed During Omicron Surge

 TUESDAY, JAN 04, 2022 – 12:40 PM

Eric Adams, a former cop and Brooklyn borough president who, as of Jan. 1, took over as the mayor of NYC, has pledged – alongside his predecessor, Bill de Blasio – to keep students safe and schools open.

Former NYC schools chancellor Meisha Porter and incoming Schools Chancellor David Banks pledged last week that Adams’ team would pursue a multi-pronged approach for safely returning to school in-person this January following winter break. While the city’s Department of Education has encouraged all faculty and students to get vaccinated, they stopped short of making it a requirement (presumably for fear that it would prevent faculty from returning to work).

What’s more, the city is adding city-run testing sites this week, while the DOE will double the in-school surveillance testing programs and deploy millions of at-home rapid tests to allow students to continue learning in school.

In a statement released late last week, de Blasio, Adams and Porter all shared statements about the city’s plans for keeping schools open, come hell or high water.

  • “Schools are among the safest places to be throughout the COVID-19 pandemic and we’re working closely with the incoming administration to keep it that way,” said Mayor Bill de Blasio. “By doubling COVID-19 testing in schools, getting our students vaccinated, and sending students, teachers and staff home with at-home test kits, we can keep everyone healthy and finish out this school year strong.”
  • “The numbers speak for themselves – your kids are safer in school,” said Mayor-Elect Eric Adams. “Thanks to testing, vaccinations, and at-home testing kits we’ll keep it that way. We’re working closely with the de Blasio Administration and we’ll be ready to bring students and staff back to the classroom on January 3rd.  This is how we move our city forward.”
  • “The safety of our students, staff members, and communities is our top priority,” said Schools Chancellor Meisha Porter. “Thanks to our multi-layered, gold standard approach to health and safety, New York City’s schools continue to be some of the safest places to be during this pandemic. These new measures in school testing build on our high standards for safety, protects our communities, and allows for students to continue receiving an excellent education in-person.”

Meanwhile, Adams told Bloomberg TV on Monday that public sector employees are required to be fully vaccinated. A vaccine mandate for private sector workers went into place on Dec. 27, with employees required to get their second dose within 45 days or they won’t be allowed to enter their workplaces,

Just as Wall Street banks and insurance companies delay their employees’ return to the office, Adams said he was urging banks and other businesses who are letting employees work from home during the winter COVID surge to instead bring those workers back to the office.

“That accountant from a bank that sits in an office, it’s not only him, it’s our financial ecosystem. He goes out to the restaurant. He brings the business travel, which is 70% of our hotel occupancy. He participates in the economy,” Adams said.

NYC’s positivity rate has climbed to a staggering 33% as one in every three COVID tests administered in the city has come back positive, according to data from Reuters. That’s substantially higher than the 18% rate nationwide.

Outside of the city, thousands of schools across the US ended up delaying the scheduled return to classroom.

This week’s scheduled return to classrooms following the holiday break or switched to remote learning as the omicron variant of the coronavirus pushed COVID cases to record levels. Nationally, there were more than 2,750 school closures this week.

The speed of omicron’s spread has created what Reuters described as “a broadening sense of chaos in the first few days of 2022.” The number of new COVID cases has doubled during the past week to a record-setting average of 418,000 a day.

Cities including Milwaukee, Cleveland and Detroit either implemented online instruction or canceled school altogether this week for tens of thousands of students, citing both staff shortages and the threat of omicron.

Across New Jersey, which has seen some of the highest case rates in recent weeks, most urban school districts have returned to virtual learning to start the year, including the Garden’s State’s biggest district, Newark.

Down in Atlanta, Anna Beale Smith, a mother of two, told Reuters that while she supports the decision to switch the city’s public schools to remote learning this week, she wishes the district made the announcement earlier. The Saturday night announcement left too many parents like herself scrambling, she said.

“I’ve been really disappointed and frustrated in the lack of communication and the lack of clear planning,” said Smith, 41, who works in healthcare.

During the past week, the number of hospitalized COVID patients rose 40%, up to 72% of the previous peak seen in January 2021, according to Reuters. COVID deaths in the US have held fairly steady at 1,300 lives lost on average each day. Still, the sheer number of new cases has alarmed health officials with hospital systems in many states already strained. Maryland, Ohio, Delaware and Washington DC are all at, or near, record number of beds filled with COVID patients. Staffing shortages and a snowstorm moving through the eastern US created further travel woes, with more than 4.4K flights canceled on Monday worldwide, including nearly 3K flights in the US, according to the tracking website FlightAware.

Finally, the schools that are pressing ahead with reopening have apparently gotten their hands on thousands of take-home rapid tests. For example, Boston distributed 55K tests to students ahead of the winter break. Schools are still scheduled to open on Tuesday, though the superintendent of schools, Brenda Cassellius, told reporters on Monday that she anticipates omicron-related staff shortages. “If I have to go out and teach in a classroom, I’m going to do that,” the superintendent said. .

Across the pond, the situation is more dire for educators, as lockdowns in European countries leave students stuck at home. However, in the Netherlands, officials have ordered students to return to school. After two weeks of living under strict lockdown conditions, the Netherlands will reopen primary and secondary schools on Jan. 10 despite coronavirus infections remaining high, the government said on Monday.

The government added that hospital admissions had fallen substantially since the lockdown’s start. Meanwhile, in England, authorities have said they will now require students to wear face coverings.

“We want to maximize the number of children in school and college for the maximum amount of time,” said Education Secretary Nadhim Zahawi during an interview with the Sunday Telegraph. “One of the additional, temporary measures that will help achieve this in light of the omicron surge is recommending face coverings are worn in secondary school classrooms and teaching spaces for the coming weeks – although not for longer than they are needed.”

Prior to this change, England was the only one of the UK’s four constituent nations that hadn’t required students to wear masks in class.

END

Federal Judge Backs Un-Vaxx’d Navy SEALs, Blocks Pentagon Punishment

TUESDAY, JAN 04, 2022 – 02:40 PM

A group of 35 Navy Seals who sued the Biden Administration, Pentagon, and US Navy over the service-wide Covid vaccine mandates has won a key decision, The Washington Post reports Tuesday, after a US District Court judge in Texas blocked the Pentagon from punishing the particular Navy personnel in the case who reject the vaccine. 

The decision is expected to have significant reverberations throughout all branches, as Pentagon spokesman John Kirby said Monday night the DoD is reviewing the decision in light of how it will impact its continuing policy of discharging all servicemembers not in conformity. US District Judge Reed O’Connor ruled that the pandemic “provides the government with no license to abrogate” the individual liberties of any American. Navy Seals file image, US Navy

He asserted and defended service members’ right for religious exemption – crucially which in branches like the Marines have been subject of blanket denials of late, according to widespread reports. Judge O’Connor wrote as part of his 26-page injunction that “loss of religious liberties outweighs any forthcoming harm to the Navy” and that “even the direst circumstances cannot justify the loss of constitutional rights.”

“This Court does not make light of COVID-19′s impact on the military. Collectively, our armed forces have lost over 80 lives to COVID-19 over the course of the pandemic,” O’Connor wrote Monday.

The Washington Post details the background of the lawsuit as follows:

The troops — a group that included Navy SEALs and other members of Naval Special Warfare Command — filed suit against President Biden, Defense Secretary Lloyd Austin, Navy Secretary Carlos Del Toro and the Defense Department to challenge the Navy’s vaccination requirement in November. The troops cited Christian beliefs that they should not take a vaccine developed from aborted fetal cell lines and saw a modification of their bodies as an “affront to their Creator.”

Mike Berry, general counsel for the First Liberty Institute which is representing the Seals, said in the aftermath of the judge’s order to halt punishments from military commanders over the vaccine mandate: “Forcing a service member to choose between their faith and serving their country is abhorrent to the Constitution and America’s values,” Berry said. “Punishing SEALs for simply asking for a religious accommodation is purely vindictive and punitive. We’re pleased that the court has acted to protect our brave warriors before more damage is done to our national security.”

Recall that last month the military admitted it is denying religious exception requests almost across the board

Marine Corps spokesman Capt. Ryan Bruce told Fox News that as of Thursday, 3,080 of the 3,192 requests for religious accommodation concerning the COVID-19 vaccine mandate had been processed and zero had been approved, adding that “no religious accommodations have been approved for any other vaccine in the past seven years.” 

Likely the order could open up an avalanche of similar successful lawsuits against the Biden administration and the DoD. For now, however, “The order prevents the Navy from applying its vaccine mandate and administrative discharge policy on the 35 sailors involved in the lawsuit.”

There are similar lawsuits to halt the military’s ability to punish unvaccinated personnel currently in process across various parts of the country, working their way through civil courts.

end

Rand Paul Vows To Bring Fauci To Justice If GOP Wins Back Senate In Midterms

TUESDAY, JAN 04, 2022 – 04:45 PM

Authored by Steve Watson via Summit News,

Senator Rand Paul has vowed to directly go after Anthony Fauci and bring him to justice over repeated lies while under oath as regards his involvement in gain of function research that took place at Wuhan virology labs.

During a recent interview with his father, former Congressman Ron Paul, the Senator said that if the GOP wins, and he is once again elected, “I will be chairman of a committee in the Senate. We will use the subpoena power to bring forth all the records.”

“Right now they send us records. If we ask about their discussions, covering up where the virus came from, its origins in the lab, they white it all out,” Paul continued, referring to Democrats in power.

They redact all the information and send us a blank piece of paper and they won’t tell us about their conversations,” the Senator further urged, adding that if power transfers back to Republicans, “We’ll get to the root of everything.”

Paul predicted that should this happen, Fauci will immediately retire and that it would be the “best thing right there for the country because he’s been so damaging.”

“All these blue state governors listen to him and think that it’s science to close a restaurant at 10 o’clock at night or to say that we have to have 25 percent of patrons,” The Senator explained, adding “There’s no evidence that any of the mitigation, any of the rules, and mandates changed the trajectory of the virus at all.”

If Republicans do win back the Senate, Paul is likely to be a front runner to take up the Chair of the Committee on Health, Education, Labor, and Pensions (HELP).

Elsewhere during the interview, Paul warned that thousands of Americans are dying from COVID every month because Fauci is obsessed with pushing vaccines in place of therapeutic treatments that are effective in treating the virus.

Watch:

*  *  *

iii) important USA economic stories for you tonight

Business is very good for “Let;s  Go Brandon Store” chain. They are adding more outlets to their chain.

(zerohedge)

“Business Is Very Good” – Let’s Go Brandon Store Chain Expands As Biden’s Approval Rating Plunges

 MONDAY, JAN 03, 2022 – 10:40 PM

The growing “Let’s Go, Brandon” movement has expanded into a booming retail chain selling anti-President Biden merchandise. Business is thriving, and the small retail chain has big plans across the New England region. 

FOX Business spoke Let’s Go Brandon store owner Keith Lambert, who is opening two new locations in Salisbury and Cape Cod, Massachusetts, increasing locations from eight to 10. Soaring demand for political merchandise comes as the Biden administration’s approval rating tumbled back to near record lows. 

“A customer came into one of our locations [Tuesday] and bought a Let’s Go Brandon sticker and went out to his car and stuck it over his Biden sticker,” Lambert said. “And that was it, he was just like, ‘I’m done with this guy.'”

“People have buyer’s remorse,” he added. “Business is very, very good right now.”

The Let’s Go Brandon movement is a unique response to many Americans’ discontent with the media and the Biden administration. The slogan is a modern equivalent of “Yankee Doodle Dandy” used by the colonists to show their defiance against England. 

Let’s Go Brandon movement began on Oct. 2. Race-car driver Brandon Brown won his first NASCAR Xfinity Series race. During the interview, NBC reporter Kelli Stavast’s questions were drowned out by “F*** Joe Biden” chants. Stavast was quick to declare, “you can hear the chants from the crowd, ‘Let’s go, Brandon!”

For months, the war cry has taken the nation by storm (see: here & here). People are fed up with the media and, most importantly, the Biden administration. Lambert said the community response to his stores has mainly been positive, but there’s always angry liberals that bombard the store with negative reviews online and message him death threats. 

Lambert’s said he began losing trust with Biden after the botched exit of Afghanistan and the border crisis. 

“His decision-making is not good,” he said. “I don’t think he’s doing the job that he should be doing, and I’m not happy with it, just like a lot of other people are not happy with it.”

Lambert said when Biden leaves office, he’s not worried about anti-liberal merchandise going out of fashion.

“Liberals always get so upset, so there’s always going to be a slogan, a phrase, and the Trump brand isn’t going anywhere. People still buy lots of Trump merchandise, and especially if he runs again, I’m sure we’ll be able to stay open and keep moving with that stuff,” he said. 

Let’s Go Brandon is a rallying cry of defiance and is a way for many to tell both the president and the media to “mind the music and the step” because they are marching to a different tune than the American people.

END 

Wealthy Beverly Hils residents are panic buying guns amid a crime wave

(zerohedge)

Beverly Hills Residents Panic-Buy Guns Amid Crime-Wave

 TUESDAY, JAN 04, 2022 – 08:35 AM

The rich and famous in Beverly Hills are panic-buying guns and ammo amid a dramatic increase in violent crime. 

Los Angeles Magazine spoke with Beverly Hills Guns owner Russell Stuart who said, “since opening in July 2020, the store has seen upscale residents from Santa Monica to the Hollywood Hills increasingly in a panic following several high-profile smash-and-grab and violent home invasion robberies.”

Stuart told the magazine that “prominent actors, real estate moguls and film execs” flock to his store to load up on self-defense firearms.

This morning, I sold six shotguns in about an hour to people that say, ‘I want a home defense shotgun,'” he said. “Everyone has a general sense of constant fear, which is very sad. We’re used to this being like Mayberry.” Mayberry is the name of an idyllic fictional town from “The Andy Griffith Show.”

The recent string of high-profile retail robberies and home burglaries has sent many Beverly Hillers into a panic. Wealthy folks are also purchasing bulletproof cars, safe rooms, employing armed guards, and even constructing walls with barbed wire around their properties.

The issue of violent crime is nothing new to Los Angeles, but a spillover to upscale neighborhoods has put elites on edge. The increase in crime stems from an alarming cocktail of criminal justice reforms. For instance, thieves can steal up to $950 in goods and receive a slap on the wrist, the equivalent of a traffic ticket. Criminal gangs have taken advantage of relaxed laws and have recently gone on a wave of retailer smash and grab robberies. There have also been high-profile robberies of elites. 

When philanthropist Jacqueline Avant was murdered in her Beverly Hills mansion last month, that was a cue for the rich and famous to flock to gun stores for protection. end

 iii)b USA inflation commentaries//LOG JAMS//

SWAMP STORIES //

Senator Rand Paul Quits YouTube Over “Despicable” Censorship, Moves Permanently To Rumble

 TUESDAY, JAN 04, 2022 – 11:40 AM

Authored by Steve Watson via Summit News,

2022 will be the year that people in their millions jump the sinking ship of big tech and move to newer independent, and uncensored platforms. Among plenty of others, that’s the prediction of Senator Rand Paul, who is leading the charge by voluntarily quitting YouTube in favour of Rumble.

“About half of the public leans right. If we all took our messaging to outlets of free exchange, we could cripple Big Tech in a heartbeat,” Paul announced in an op ed.

“So, today I take my first step toward denying my content to Big Tech. Hopefully, other liberty lovers will follow,” the Senator added.

He continued, “As a libertarian leaning Senator, I think private companies have the right to ban me if they want to, however, those of us who believe that truth comes from disputation and that the marketplace of ideas is a prerequisite for innovation should shun the close-minded censors and take our ideas elsewhere, which is exactly what I’m doing.”

Paul called his “dysfunctional” interaction with Google a “toxic relationship” where his every word is scrutinised by politicised “fact checkers.”

“Sure, I can get millions of views. But why should I allow anonymous ‘fact-checkers’ to censor my fully sourced, fact-based content?” Paul asked, adding “They don’t want to challenge or debate me with opposing views, they just want my silence.”

The Senator described the unholy partnership of corporate media and big tech as a “Medieval church” decreeing that opinions deviating from the established narrative are too “dangerous” for people to be subjected to.

“An entire generation of young people, who use these platforms exclusively for their news, will never read or hear of opinions or ideas that challenge the Big Government / Big Tech orthodoxy,” the Senator urged.

“When I gave a speech on the Senate floor asking whether Eric Ciaramella, the Vindman brothers, and Adam Schiff’s legal team conspired while working at the White House to impeach the president, YouTube chose to censor and delete the video,” Paul further notes.

Paul also addressed the wholly unscientific mantra of ‘follow the science’, noting that “A hallmark of the scientific method is to challenge and disprove a hypothesis. Yet we have abandoned science and rational debate for an almost religious adherence to the edicts of government bureaucrats like Anthony Fauci. To challenge the data is to be ‘denier’ or ‘conspiracist’ who must be silenced.”

Paul’s move comes amid yet more rampant censorship efforts on behalf of Google, which is scrambling to take down Joe Rogan’s interviews with illustrious medical experts Dr Peter McCullough and Dr Robert Malone, merely because they have questioned the viability and logic of mass inoculation. They have also been charged with altering search results to suppress the content.

Twitter has also banned Malone, and last week banned sitting Congresswoman Marjorie Taylor Greene for “repeated violations” of its Covid misinformation policy.

The move prompted podcast giant Rogan to set up a GETTR account in anticipation of censorship becoming “dumber” at Twitter.

*  *  *

END

KING REPORT/SWAMP STORIES

 For the umpteenth over the past many months, US stocks sank early and then the equity rescue team pushed ESHs higher to save the day and foment short-covering and momentum buying.
@SJosephBurns: Last time CPI inflation was this high, the 10-year Treasury yield was above 14% (now 1.4%) and personal savings rate was just above 12% (now 7.3%) via @LizAnnSonders
https://twitter.com/SJosephBurns/status/1478026763506786305

Biden targets US meat firms in effort to tame surging prices, inflation
The plan earmarks $1 billion in funds from the “American Rescue Plan” toward expanding processing capacity for independent meat processing firms, the White House announced… The White House said the four largest meatpacking firms control 85 percent of the beef market, 70 percent of the pork market, and 54 percent of the poultry market…Beef prices rose 21 percent year-over-year in November, according to Labor Department data…  https://nypost.com/2022/01/03/biden-targets-us-meat-firms-in-effort-to-tame-surging-prices/

@RNCResearch: REPORTER: “When will Americans get those free COVID tests, sir?” (“Are you going to break up the big four meat packers?”) BIDEN: *stares blankly ahead* (very troubling countenance)
https://twitter.com/RNCResearch/status/1478096233218650131

@apgmonteiro: Apple’s market value is now bigger than all world economies except those of the U.S., China, Japan and Germany. Unreal.

Facebook ‘permanently’ locks account of conservative children’s book publisher
Heroes of Liberty publishes books about Amy Coney Barrett, Ronald Reagan and Thomas Sowell
    Heroes of Liberty aims to produce high-quality children’s books promoting American values…
https://www.foxbusiness.com/politics/facebook-permanently-locks-conservative-childrens-book-publisher-heroes-liberty
Denmark health chief says Omicron is bringing about the END of the pandemic and ‘we will have our normal lives back in two months’
https://www.dailymail.co.uk/news/article-10364503/Denmark-health-chief-says-Omicron-bringing-END-pandemic.html

COVID transmission influenced by blood transmission rules
Accumulated evidence worldwide shows that blood type affects the risk of SARS-CoV-2 infection, with blood Type O being less susceptible and non-O blood types more susceptible…our latest data model indicates that SARS-CoV-2 infection behaves similarly to a blood transfusion, and that infected patients are 2–3 times more likely to pass the virus on to someone for whom they are a compatible blood donor…  https://medicalxpress.com/news/2022-01-covid-transmission-blood.html

Nancy Pelosi expected to ‘step down next year’: Democrats prepare for civil war between factions with Rep. Hakeem Jeffries the favorite to become the new leader…as they brace for the possibility of serious losses in the midterm elections…
https://www.dailymail.co.uk/news/article-10365027/Nancy-Pelosi-expected-step-year.html

Pelosi accused of obstructing access to Jan. 6 records – In letter, Rep. Rodney Davis says House speaker has blocked Republicans from conducting oversight of security preparedness of Capitol
    “These House officials, who are appointed by and answer only to you, have blocked our access to key records necessary for this oversight,” Davis wrote to Pelosi. “Accordingly, we write to demand that you instruct all House officers to immediately cease obstructing our oversight of the Capitol complex’s security vulnerabilities.”…  https://justthenews.com/accountability/pelosi-accused-obstructing-access-jan-6-records

Biden Trapped on Plane After Staircase Gets Stuck in Snow
Both his motorcade and plane were bogged down by snow…Biden spent eight days over the holiday break between his homes in Rehoboth and Wilmington — his 31st trip to Delaware as president
https://dailycaller.com/2022/01/03/biden-plane-snow-trapped-storm/
 
Reports said The Big Guy was advised to return to DC on Sunday night due to the coming snowstorm; but Joey Baby wanted to stay in Delaware until Monday despite the impending snowstorm.  Why?
 
Gov. DeSantis on media criticism he was MIA in December: ‘I guess I should’ve been at the beach in Delaware’ – an apparent reference to President Biden’s recent trip to his home state of Delaware where cameramen captured him walking his dog along Rehoboth Beach…
https://www.foxnews.com/media/gov-desantis-responds-to-media-criticism-he-was-mia-in-december
 
Rep. Alexandria Ocasio-Cortez gets pass from mainstream media after going maskless at packed Florida bar – Others haven’t gotten a pass for similar actions during ongoing pandemic
https://www.foxnews.com/media/alexandria-ocasio-cortez-mainstream-media-maskless-packed-florida-bar
 
@KimIversenShow: This story should be in The Onion. This woman, triple vaxxed, wears masks and shields, tests obsessively. Tested positive while mid-air (she’s hoarding tests) and locks herself in an airplane bathroom for hours fearing she’s killing everyone and herself.
https://www.cnn.com/travel/article/icelandair-covid-passenger-quarantines-trnd/index.html
 
By means of ever more effective methods of mind-manip­ulation, the democracies will change their nature; the quaint old forms— elections, parliaments, Supreme Courts and all the rest—will remain. The underlying substance will be a new kind of non-violent totalitari­anism. All the traditional names, all the hallowed slo­gans will remain exactly what they were in the good old days. Democracy and freedom will be the theme of every broadcast and editorial—but democracy and free­dom in a strictly Pickwickian sense. Meanwhile the ruling oligarchy and its highly trained elite of soldiers, policemen, thought-manufacturers and mind-manipulators will quietly run the show as they see fit.” —  Aldous Huxley     https://quotepark.com/quotes/1744774-aldou

I will see you on WEDNESDAY night/

end

One comment

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

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