January 26, 2022 · by harveyorgan · in Uncategorized · Leave a comment ·Edit

JAN 26//

TODAY IS OPTION EXPIRY FOR THE COMEX SO DO NOT GET TOO CONCERNED ON THE FALL IN GOLD/SILVER PRICE. THIS CRIMINAL ACTIVITY IS ROUTINE FOR THE CROOKSMONDAY IS OPTIONS EXPIRY FOR LONDON LBMA/OTC CONTRACTS.

GOLD; DOWN $21.60 to $1830.35

SILVER: $23.80 DOWN 7 CENTS

ACCESS MARKET: GOLD: 1819.00..

SILVER: $23.51

Bitcoin: morning price: 37,803 up 1066

Bitcoin: afternoon price: 36,737 up 2161

Platinum price: closing up $17.35 to $1047.80

Palladium price; closing up $155.20 at $2357.10

END

end

DONATE

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

comex notices//JPMorgan notices filed COMEX//NOTICES: 0/0

FILED zero

NUMBER OF NOTICES FILED TODAY FOR JAN. CONTRACT: 0 NOTICE(S) FOR nil OZ (0.00000 TONNES)

total notices so far: 5651 contracts for 565,100 oz (17.577 tonnes)

SILVER NOTICES:

80 NOTICE(S) FILED TODAY FOR 400,000 OZ/

total number of notices filed so far this month 2936 : for 14,280,000 oz

GLD

WITH GOLD DOWN $21.60

WITH RESPECT TO GLD WITHDRAWALS: (OVER THE PAST FEW MONTHS): A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A 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: 1013.10 TONNES/

Silver//SLV

WITH NO SILVER AROUND AND SILVER DOWN 7 CENTS:/:

AT THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

CLOSING INVENTORY SLV/ TONIGHT: 535.003 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A HUGE 2847 CONTRACTS TO 151,779 AND RESTS FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020 AND THIS HUGE GAIN IN OI WAS ACCOMPANIED WITH THE SMALL $0.10 GAIN IN SILVER PRICING AT THE COMEX ON TUESDAY. OUR BANKERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.10) AND WERE UNSUCCESSFUL IN KNOCKING OUT ANY SILVER LONGS AS WE HAD A HUGE GAIN OF 3007 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 ZERO ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A HUGE INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 10.505 MILLION OZ FOLLOWED BY TODAY’S 425,000 OZ QUEUE. JUMP //NEW STANDING 14.910 MILLION OZ V) STRONG SIZED COMEX OI GAIN.

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

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI SILVER TODAY: CONTRACTS 60

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 17 days, total contracts: : 14,933 contracts or 74.665 million oz OR 4.392 MILLION OZ PER DAY. (878 CONTRACTS PER DAY)

TOTAL NO OF OZ UNDERGOING EFP TO LONDON 14,933 CONTRACTS X 5,000 PER CONTRACT:

EQUATES TO: 74.665 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 HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2847 WITH OUR SMALL 10 CENT GAIN SILVER PRICING AT THE COMEX// TUESDAY THE CME NOTIFIED US THAT WE HAD A TINY SIZED EFP ISSUANCE OF 100 CONTRACTS( 100 CONTRACTS ISSUED FOR MAR AND 100 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 425,000 OZ QUEUE JUMP //NEW STANDING 14.910, MILLION OZ// .. WE HAD A HUGE SIZED GAIN OF 2947 OI CONTRACTS ON THE TWO EXCHANGES FOR 15.035 MILLION OZ//

WE HAD 80 NOTICES FILED TODAY FOR 400,000 OZ

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A GIGANTIC SIZED 14,452 TO 572,078 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: -1104 CONTRACTS

THE GIGANTIC SIZED INCREASE IN COMEX OI CAME WITH OUR STRONG GAIN IN PRICE OF $10.40//COMEX GOLD TRADING/TUESDAY/.AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR GOOD SIZED EXCHANGE FOR PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION AS THE TOTAL GAIN ON OUR TWO EXCHANGES TOTALED A HUMONGOUS SIZED 21,244 CONTRACTS…

WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR JAN AT 3.5614 TONNES FOLLOWED BY TODAY’S 100 OZ E.F.P. JUMP TO LONDON//NEW STANDING: 17.626 TONNES

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF $10.40 WITH RESPECT TO TUESDAY’S TRADING

WE HAD A HUMONGOUS SIZED GAIN OF 20,140 OI CONTRACTS (62.64 PAPER TONNES) ON OUR TWO EXCHANGES

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALLED A GOOD SIZED 5688 CONTRACTS:

FOR FEB 5688 ALL OTHER MONTHS ZERO//TOTAL:5688

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 572,078.

IN ESSENCE WE HAVE A GIGANTIC SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 20,140, WITH 14,452 CONTRACTS INCREASED AT THE COMEX AND 5688 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 21,244 CONTRACTS OR 60.077TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A GOOD SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5688) ACCOMPANYING THE HUGE SIZED GAIN IN COMEX OI (14,452): TOTAL GAIN IN THE TWO EXCHANGES 20,140 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 100 OZ E.F.P. JUMP TO LONDON.//NEW STANDING 17.626 TONNES 3)ZERO LONG LIQUIDATION,4) HUGE SIZED COMEX OI. GAIN 5) GOOD 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 : 61,502 CONTRACTS OR 6,150,200 oz OR 191.29 TONNES 17 TRADING DAY(S) AND THUS AVERAGING: 3618 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 17 TRADING DAY(S) IN TONNES: 191.29 TONNES

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

THUS EFP TRANSFERS REPRESENTS 191.29/3550 x 100% TONNES 5.38% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO DATE

JANUARY/2021: 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//FINAL 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, ROSE BY A HUGE SIZED 2847 CONTRACTS TO 151,779 AND CLOSER TO 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 100 CONTRACTS

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

MAR 100 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 100 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 2847 CONTRACTS AND ADD TO THE 100 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A HUGE SIZED GAIN OF 2947 OPEN INTEREST CONTRACT FROM OUR TWO EXCHANGES.

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 14.735 MILLION OZ,

OCCURRED WITH OUR $0.10 GAIN 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,

4. Chris Powell of GATA provides to us very important physical commentaries

5. Other gold commentaries

6. Commodity commentaries/cryptocurrencies

3. ASIAN AFFAIRS

i)WEDNESDAY MORNING// TUESDAY NIGHT

SHANGHAI CLOSED UP 22.61 PTS OR 0.66% //Hang Sang CLOSED UP 46.29 PTS OR 0.19% /The Nikkei closed DOWN 120.01 PTS OR 0.44% //Australia’s all ordinaires CLOSED HOLIDAY /Chinese yuan (ONSHORE) closed UP 6.3225 /Oil UP TO 86.40 dollars per barrel for WTI and UP TO 89.19 for Brent. Stocks in Europe OPENED ALL GREEN // ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.3225. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3262: /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN AND OFF SHORE TRADING STRONGER AGAINST USA DOLLAR

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 ROSE BY A GIGANTIC SIZED 14,452 CONTRACTS AND CLOSER TO THE RECORD THAT WAS SET IN JANUARY/2020: {799,541 OI(SET JAN 16/2020)} AND PREVIOUS TO THAT: 797,110 (SET JAN 7/2020). AND THIS COMEX INCREASE OCCURRED WITH OUR GAIN OF $10.40 IN GOLD PRICING TUESDAY’S COMEX TRADING. WE ALSO HAD A GOOD SIZED EFP (5688 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 GOOD SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS 5688 EFP CONTRACTS WERE ISSUED: ;: , DEC : 0 & FEB. 5688 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 5688 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 GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A HUMONGOUS SIZED 21,244 TOTAL CONTRACTS IN THAT 5688 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A GIGANTIC SIZED COMEX OI GAIN OF 15,556 CONTRACTS..

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR JAN (17.626),

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 UNSUCCESSFUL IN LOWERING GOLD’S PRICE //// (IT ROSE $10.15)

AND THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED A HUMONGOUS 62.64 TONNES, ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR JAN (17.626 TONNES)…

WE HAD – 1104 CONTRACTS REMOVED FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES 21,244 CONTRACTS OR 212,4400 OZ OR 60.077 TONNES

Estimated gold volume today: 345,917 /// fair

Confirmed volume yesterday: 282,499 contracts poor

INITIAL STANDINGS FOR JAN ’22 COMEX GOLD //JAN 26

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil oz
Withdrawals from Customer* Inventory in oz*	192.91 oz BRINKS 6kilobars
Deposit to the Dealer* Inventory in oz*	nilOZ
Deposits to the Customer* Inventory, in oz*	nil
No of oz served (contracts) today	0 notice(s) 0 OZ 0 TONNES
No of oz to be served (notices)	16 contracts 1600 oz 0.0437 TONNES
Total monthly oz gold served (contracts) so far this month	5651 notices 565,100 OZ 17.576 TONNES
Total accumulative withdrawals of gold from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of gold from the Customer* inventory this month*	xxx oz

For today:

No dealer deposit 0

No dealer withdrawal 0

0 customer deposit

total deposit: nil oz

1 customer withdrawals

i) Out of BRINKS: 192.91 0z (6 KILOBARS)

total withdrawals: 192.91 oz

ADJUSTMENTS: 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JANUARY.

For the front month of JANUARY we have an oi of 16 stand for JANUARY LOSING 1 contract. We had 0 notices filed on TUESDAY, so we LOST ONE contract or an additional 100 oz will NOT stand for

gold in this very non active delivery month of January.

FEBRUARY LOST 13,751 CONTRACTS TO 98.403

March GAINED 175 contracts to stand at 3299..

We had 0 notice(s) filed today for 00 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 0 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0 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 (5651) x 100 oz , to which we add the difference between the open interest for the front month of (JAN: 16CONTRACTS ) minus the number of notices served upon today 0 x 100 oz per contract equals 566,700 OZ OR 17.626 TONNES the number of TONNES standing in this NON active month of JAN. (numbers corrected from yesterday)

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

No of notices filed so far (5651) x 100 oz+ (16) OI for the front month minus the number of notices served upon today (0} x 100 oz} which equals 565,700 oz standing OR 17.626 TONNES in this NON active delivery month of JAN.

We LOST 1 contracts or an additional 100 oz of gold will NOT stand for metal on this side of the pond.

TOTAL COMEX GOLD STANDING: 17.626 TONNES (HUGE FOR A JANUARY DELIVERY MONTH

IF THIS HOLDS TO THE END OF THE MONTH, THIS WILL BE THE HIGHEST EVER RECORDED GOLD STANDING FOR A JANUARY, GENERALLY A VERY POOR DELIVERY MONTH.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

157,392.690, oz NOW PLEDGED /HSBC 4.89 TONNES

125,410.592 PLEDGED MANFRA 2.90 TONNES

54,339.114oz PLEDGED JPMorgan no 1 1.690

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

898,821.330 oz pledged Brinks/27,96 TONNES

12,249,333 oz International Delaware: 0..3810 tonne

Loomis: 18,615.429 oz

total pledged gold: 1,555,310.092 oz 48.376 tonnes

TOTAL REGISTERED AND ELIZ GOLD AT THE COMEX: 33,417,353.216 OZ (1039,42 TONNES)

TOTAL ELIGIBLE GOLD: 15,836,909.152 OZ (492.59 tonnes)

TOTAL OF ALL REGISTERED GOLD: 17,580,540.519 OZ (546.82 tonnes)

REGISTERED GOLD THAT CAN BE SERVED UPON: 16,025230.0 OZ (REG GOLD- PLEDGED GOLD) 498.45 tonnes

END

JANUARY 2022 CONTRACT MONTH//SILVER

INITIAL STANDING FOR SILVER//JAN 26

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	519,499.220 oz Brinks hsbc
Deposits to the Dealer* Inventory*	nilOZ
Deposits to the Customer Inventory	nil oz
No of oz served today (contracts)	80 CONTRACT(S) 400,000 OZ)
No of oz to be served (notices)	46 contracts (230,000 oz)
Total monthly oz silver served (contracts)	2936 contracts 14,680,000 oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

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 have 0 deposits

JPMorgan has a total silver weight: 185.232 million oz/355.505 million =52.09% of comex

ii) Comex withdrawals: 2

a) BRINKS: 208,189.770 OZ

b) out of HSBC: 311,309.450 oz

total withdrawal 519,499.220 oz

we had 0 adjustments:

the silver comex is in stress!

TOTAL REGISTERED SILVER: 82.421 MILLION OZ

TOTAL REG + ELIG. 354.505 MILLION OZ

TOTAL NO OF CONTRACTS SERVED UPON THIS MONTH: 2838 CONTRACTS FOR 14,190,000 OZ

CALCULATION OF SILVER OZ STANDING FOR JANUARY

NUMBER OF NOTICES FILED TODAY: 1 NOTICES OR 5,000 OZ

silver open interest data:

FRONT MONTH OF JAN//2022 OI: 126 CONTRACTS GAINING 68 contracts on the day

We had 17 notices filed for TUESDAY so we GAINED 85 contracts or 425,000 additional oz will stand for delivery in this non active delivery month of January.

FOR FEB WE HAD A LOSS OF 0 CONTRACTS REMAINING AT 577

FOR MARCH WE HAD A GAIN OF 1823 CONTRACTS UP TO 114,862 CONTRACTS.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 80 for 400,000 oz

Comex volumes: 46,732// est. volume today//POOR

Comex volume: confirmed YESTERDAY: 58,485 contracts (FAIR)

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 2936 x 5,000 oz =. 14,680,000 oz

to which we add the difference between the open interest for the front month of JAN (126) and the number of notices served upon today 80 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the JAN./2021 contract month: 2936 (notices served so far) x 5000 oz + OI for front month of JAN (126) – number of notices served upon today (80) x 5000 oz of silver standing for the JAN contract month equates 14,910,000 oz. .

We GAINED 85 contracts or an additional 425,000 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 26/WITH GOLD DOWN $21.60 A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 4.65 TONNES INTO THE GLD///INVENTORY RESTS AT 1013.10 TONNES

JAN 25/WITH GOLD UP $10.40 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1008.45 TONNES

JAN 24/WITH GOLD UP $10.10 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: AN UNBELIEVABLE DEPOSIT OF 27.59 TONNES INTO THE GLD//INVENTORY RESTS AT 1008.45 TONNES

JAN 21/WITH GOLD DOWN $10.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 980.86 TONNES

JAN 20/WITH GOLD UP $.20 TODAY: A SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .58 TONNES FROM THE GLD///INVENTORY RESTS AT 980.86 TONNES

JAN 19/WITH GOLD UP $29.65 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 5.27 TONNES INTO THE GLD/INVENTORY RESTS AT 981.44 TONNES

JAN 18/WITH GOLD DOWN $3.25//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 976.21 TONNES

JAN 14/ WITH GOLD DOWN $5.25/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 976.21 TONNES

JAN 13/WITH GOLD DOWN $5.75: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 976.21 TONNES

JAN 12/WITH GOLD UP $8.65//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 976.21 TONNES

JAN 11/WITH GOLD UP $19.25/A SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .87 TONNES FROM THE GLD/INVENTORY RESTS AT 976.21 TONNES

JAN 10/WITH GOLD UP $2.00/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 977.08 TONNES

JAN 7/WITH GOLD UP $8.15//A SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWLA OF 1.16 TONNES FROM THE GLD////INVENTORY RESTS AT 978.83 TONNES

JAN 6/WITH GOLD DOWN $35.30//A SMALL CHANGE IN GOLD INVENTORY AT THE GLD//A WITHDRAWAL OF .32 TONNES/INVENTORY RESTS AT 979.99 TONNES

JAN 5/WITH GOLD UP $10.30: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 980.31 TONNES

Jan 4/WITH GOLD UP $14.00//A HUGE CHANGE OF 4.65 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 980.31 TONNES

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

CLOSING INVENTORY: 1013.10 TONNES

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

SLV

JAN 26/WITH SILVER DOWN 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 535.003 MILLION OZ//

JAN 25/WITH SILVER UP 10 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.311 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 535.003 MILLION OZ/

.JAN 24/WITH SILVER DOWN 48 CENTS TODAY: A MASSIVE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.8 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 532.692 MILLION OZ//.

JAN 21/WITH SILVER DOWN 41 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 527.792 MILLION OZ

JAN 20/WITH SILVER UP 52 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.998 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 527.792 MILLION OZ

JAN 19/WITH SILVER UP 71 CENTS TODAY: A BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.942 MILLION OZ INTO THE SLV/INVENTORY RESTS AT 525.804 MILLION OZ

JAN 18/WITH SILVER UP 51 CENTS TODAY: TWO HUGE CHANGES IN SILVER INVENTORY AT THE SLV: 2 WITHDRAWALS OF 1.11 MILLION OZ AND 1.424 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 527.246 MILLION OZ//

JAN 14/WITH SILVER DOWN 21 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 529.780 MILLION OZ//

JAN 13/WITH SILVER DOWN 2 CENTS: A BIG CHANGE IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 832,000 OZ FROM THE SLV////INVENTORY RESTS AT 529.780 MILLION OZ

JAN 12/WITH SILVER UP 38 CENTS TODAY : NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 530.612 MILLION OZ//

JAN 11/WITH SILVER UP 33 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 530.612 MILLION OZ/.

JAN 10/WITH SILVER UP 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 530.612 MILLION OZ//.

JAN 7/WITH SILVER UP 17 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 530.612 MILLION OZ//.

JAN 6/WITH SILVER DOWN 94 CENTS TODAY: A SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL PF 226,000 OZ FROM THE SLV///INVENTORY RESTS AT 530.612 MILLION OZ?/

JAN 5/WITH SILVER UP 8 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 530.838 MILLION OZ//

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//

CLOSING INVENTORY: 535.003 MILLION OZ

PHYSICAL GOLD/SILVER STORIES

1.PETER SCHIFF

Mainstream Suddenly Realizes Raising Interest Rates In A World Buried In Debt Might Be A Problem

WEDNESDAY, JAN 26, 2022 – 08:29 AM

Authored by Michael Maharrey via SchiffGold.com,

The Federal Reserve is talking about raising interest rates. But the US economy is buried under piles of debt. I’ve been asking how this is going to work for months. Apparently, the question has finally occurred to the mainstream.

A CNBC article declared, “Fed rate hikes will intensify a global debt crisis, research warns.”

Well, yeah. Duh.

According to the study came from a UK non-profit the Jubilee Debt Campaign, debt payments rose in developing countries by 120% between 2010 and 2021. They are currently at their highest levels since 2001.

The sharp increase in debt payments is hindering countries’ economic recovery from the pandemic, the report suggested, and rising US and global interest rates in 2022 could exacerbate the problem for many lower income countries.”

The study and the CNBC article are really a pitch for debt cancellation, but their narrative swerves into an unpleasant truth for US policymakers. Raising interest rates in a world awash in red ink is going to be a problem. And not just for “developing countries.”

The US government is closing in fast on $30 trillion in debt with no end to the borrowing and spending in sight. The federal government managed to run a deficit in December despite record receipts.

In December alone, the federal government spent $508 billion. The was the highest December spending level ever. Through the first three months of fiscal 2022, the federal government has already spent $1.43 trillion. That’s a record for the first quarter of any fiscal year.

Raising interest rates will drastically increase the cost of servicing all of that debt. And it will increase the cost of borrowing more money for the Biden spending coming down the pike.

In the fiscal year 2020, Uncle Sam spent $345 billion in net interest payments alone, despite near-zero interest rates. The nonpartisan Committee for a Responsible Federal Budget found that even a 2% increase in interest rates would cause net interest payments to rise to a whopping $750 billion. And this estimate was calculated before the passage of the American Rescue Plan and the Bipartisan Infrastructure Bill. That was followed up with a big surge in interest rates on US Treasuries. In other words, $750 billion underestimates the cost.

On top of that, American consumers are buried under debt. Consumer debt jumped 11% year-on-year in November. It was the biggest single-month jump in consumer debt in 20 years. Total consumer debt now stands at over $4.41 trillion. And that doesn’t include mortgages.

Revolving debt – primarily credit card balances – grew by a staggering 23.4% year-on-year in November. That was the biggest increase since 1998.

And that’s not all. Businesses and corporations are also leveraged to the hilt.

The year 2020 set a record for corporate debt issuance with $2.28 trillion of bonds and loans, comprising both new bonds and bonds issued to refinance existing debt.

All of this debt is a feature of the Fed’s loose monetary policy – not a bug.

The Federal Reserve and the US government have built a post-pandemic “economic recovery” on stimulus and debt. It is predicated on consumers spending stimulus money borrowed and handed out by the federal government or running up their own credit cards.

Now, the Fed is threatening to turn off that easy money spigot. How is that going to work? How will consumers buried under more than $1 trillion in credit card debt pay those balances down with interest rates rising? With rising rates, minimum payments will rise. It will cost more just to pay the interest on the outstanding balances.

Overleveraged companies have the same problem.

And so does the US government.

This does not bode well for an economy that depends on borrowing and spending to sustain itself.

The only reason Americans can borrow money is because the Fed is enabling them. It holds interest rates artificially low. That’s how the economy works. And that’s why I think the Fed will ultimately relent on any move it makes toward tighter monetary policy. As Peter Schiff put it, the Fed can’t do what it’s claiming it will do.

END

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

3.Chris Powell of GATA provides to us very important physical commentaries

Silver is on the launchpad, GATA’s Steer tells Wall Street Silver

Submitted by admin on Tue, 2022-01-25 11:59 Section: Daily Dispatches

11:58a ET Tuesday, January 25, 2022

Dear Friend of GATA and Gold:

GATA board member Ed Steer, editor of Ed Steer’s Gold & Silver Digest, was interviewed by the Wall Street Silver boys a few days ago and said that silver supplies are tight and that the metal is “on the launchpad.”

The interview is 17 minutes long and can be viewed at YouTube here:

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

end

A good read: Federal agency hides bank identities in a study of dangerous derivatives. They also highlight non bank entities engaging in dangerous derivatives

(Pam and Russ Martens/Wall Street on Parade)

Pam and Russ Martens: Federal agency hides bank identities in study of dangerous derivatives

Submitted by admin on Tue, 2022-01-25 12:06 Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Tuesday, January 25, 2022

The Office of Financial Research is the federal agency created under the Dodd-Frank financial reform legislation of 2010. Its role is to provide early warnings to U.S. bank regulators and the public of systemic risks that threaten U.S. financial stability, so that another 2008-style Wall Street crisis can never again devastate the U.S. economy.

The OFR was doing an outstanding job of sounding alarm bells until the Trump administration gutted the agency. The Biden administration has clearly not done enough to restore the integrity of the office.

Consider the research report that was released by the OFR on July 12 of last year, which we just discovered yesterday. The report is titled: “Counterparty Choice, Bank Interconnectedness, and Systemic Risk.” The researchers, Andrew Ellul and Dasol Kim, examined 18 different over-the-counter (OTC) derivative markets and noted the following:

“Bank interconnectedness through the OTC derivative markets was identified as an important factor that contributed to the severity of the Great Financial Crisis…and remains an area of fragility of systemically important banks on which we have very limited understanding. The trading of OTC derivatives is notoriously concentrated in the largest banks, which are also the ones for which we have data. One important feature is the substantial counterparty risk that banks face, in our context the most important counterparty risk is that faced by banks trading with non-bank entities.”

Exactly who are these “non-bank entities”?

According to the researchers, banks are increasingly using non-financial corporations on the other side of their derivative trades. …

… For the remainder of the report:

Federal Agency Censors Names of Banks in a Bombshell Study on Wall Street’s Dangerous Derivatives

END

Interesting! the strange correlation on the price of Comex silver and GDX which is an exchange traded fund of gold miners.

(Craig Hemke)

Craig Hemke: The strange correlation of Comex silver and GDX

Submitted by admin on Tue, 2022-01-25 22:16 Section: Daily Dispatches

By Craig Hemke
Sprott Money, Toronto
Tuesday, January 25, 2022

As we all await the latest Federal Open Market Committee mutterings on Wednesday, I thought it might be fun to write this week about something you may not have noticed. And what’s that?

It’s the curious yet almost 100% long-term correlation between the price of Comex silver and the price of the popular gold mining share exchange-traded fund with the symbol GDX.

Now on the surface you wouldn’t expect these two to be so closely correlated. And why would you? Why would the price of Comex silver be in any way connected to the prices of shares in major, producing gold mining companies? …

… For the remainder of the analysis:

https://www.sprottmoney.com/blog/COMEX-Silver-and-the-GDX-Craig-Hemke-January-25-2022

end

4.OTHER GOLD COMMENTARIES

END

5.OTHER COMMODITIES/

end

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

ONSHORE YUAN: CLOSED UP AT 6.3225

OFFSHORE YUAN: 6.3262

HANG SANG CLOSED UP 46.29 PTS OR 0.19%

2. Nikkei closed DOWN 120.01 PTS OR 0.44%

3. Europe stocks ALL GREEN

USA dollar INDEX UP TO 96.09/Euro FALLS TO 1.1278-

3b Japan 10 YR bond yield: FALLS TO. +.140/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 114.18/ 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:: 86.40 and Brent: 89.18-

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.0.072%/Italian 10 Yr bond yield RISES to 1.30% /SPAIN 10 YR BOND YIELD RISES TO 0.66%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.37: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield RISES TO : 1.65

3k Gold at $1845.65 silver at: 23.86 7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble;// Russian rouble DOWN 46/100 in roubles/dollar AT 79.17

3m oil into the 86 dollar handle for WTI and 89 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 114.18 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 .9205– as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0382 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: 1.787 UP 1 BASIS PTS

USA 30 YR BOND YIELD: 2.130 UP 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 13.55

Futures Surge After Microsoft Reversal With All Eyes On Fed

WEDNESDAY, JAN 26, 2022 – 08:09 AM

Yesterday, after Microsoft stock initially slumped despite beating across the board as the skeptical market latched on to even the smallest weakness to hammer the stock, dragging down both the Nasdaq and S&P futures close to session lows, we said that the reaction was premature and would reverse, as the earnings release did not include guidance and would promptly reverse once the company revealed its cloud guidance in its conference call a little over an hour later. Well, that’s precisely what happened and after first tumbling as much as 5% after hours, the 2nd largest US company (MSFT has $2.2 trillion in market cap) reversed all losses and is now trading solidly in the green, sparking broader tech momentum, lifting the Nasdaq as much as 2.1% this morning and (briefly) helping traders forget that today at 2pm the Fed is expected to unveil a March rate hike and balance sheet runoff a few months later.

Indeed, contracts on the Nasdaq 100 led broad-based gains – which would have been gaping losses had MSFT failed to reverse late on Tuesday – as U.S. stock futures rallied, with investors bracing for the Federal Reserve’s decision and preparing for a slew of earnings from companies including Tesla, Intel and Boeing. Nasdaq 100 futures jumped as much as 2.1% while S&P 500 and Dow Jones futures also rallied. The VIX fell from a one-year high, snapping six days of gains. Elsewhere, the Stoxx Europe 600 rose 2% in the biggest jump in seven weeks. 10Y TSY yields rose to 1.79% with the Fed’s policy announcement in the limelight; the dollar was slightly higher, as was Bitcoin while Brent oil traded just shy of $90 on its way to triple digits.

Of course, the big event today is the Fed policy statement at 2pm ET and press conference 2:30pm, which are expected to ratify expectations for rate increases beginning in March

Short-term interest rate futures price in just 1bp of rate-hike premium for January meeting but fully price in 25bp for March
Commentary on shrinking the central bank’s balance sheet is also anticipated

We will have a detailed post on what to expect from the Fed shortly.

“We expect inflation to remain high and interest rates to rise more than investors are expecting today,” said Norbert Frey, head of portfolio management at Fuerst Fugger Privatbank. “A rising interest rate environment is leading to a revaluation of all business models and we think 2022 can be a year of value stocks.”

While equities have had had a rocky start to 2022 as bond yields rose with investors anticipate tighter policy from the Fed, while Russia-U.S. tension added to investor concerns. Now, strategists from Goldman Sachs Group Inc. to Citigroup Inc. are saying it’s time to buy the dip.

“Any further significant weakness at the index level should be seen as a buying opportunity, in our view,” Goldman strategists including Peter Oppenheimer wrote in a note on Wednesday.

In U.S. premarket trading, Microsoft Corp rose, with analysts positive on the software maker’s outlook for growth for its Azure cloud-computing services. Shares gained 4.1% in U.S. premarket trading after initially tumbling before the market heard the company’s strong cloud guidance, with analysts positive on the software maker’s outlook for growth for its Azure cloud-computing services. Analysts also highlighted the company’s commercial bookings and a supportive IT spending backdrop. Texas Instruments shares also rose 4% after the chipmaker gave a first-quarter forecast that was stronger than expected, with analysts noting the company’s conservatism amid a still supportive demand backdrop. Texas Instruments also reported its fourth-quarter results. Other notable premarket movers:

Cryptocurrency-exposed stocks in Europe and the U.S. are trading higher as Bitcoin kept regaining ground ahead of the Federal Reserve decision. Marathon Digital (MARA US) +6%, (RIOT US) Riot Blockchain +5%, (COIN US) Coinbase +3.4%.
Electric vehicle stocks climb in U.S. premarket trading ahead of Tesla’s fourth-quarter results due Wednesday after the market close. Rivian (RIVN US) +3.5%; Tesla (TSLA US) +4.4%; Nikola (NKLA US) +3.6%.
Moderna’s (MRNA US) stock valuation “makes a lot more sense” after more than halving since Deutsche Bank initiated in October, prompting the broker to upgrade the vaccine maker to hold from sell. Shares gain 4.6% premarket.
Capital One (COF US) reported adjusted earnings per share for the fourth quarter that beat the average analyst estimate. Shares dropped postmarket, with higher expenses “the only wrinkle” in the bank’s quarter, according to Vital Knowledge.
Stride (LRN US) shares gained 7% postmarket Tuesday after the technology-based education company boosted its revenue forecast for the full year. The guidance beat the average

Global stocks have shed about 7% in January, on track for the worst month since the pandemic roiled markets back in 2020. Some strategists are optimistic about the outlook following the declines.

“The growth-policy trade-off may be less favourable, yet we think a lot of bad news is now priced in,” Emmanuel Cau, head of European equity strategy at Barclays Plc, wrote in a note. “Starts of policy normalisation typically bring higher volatility but rarely terminate bull markets, although higher-than-usual P/E multiples mean equities are more rates-sensitive this time.”

In the latest developments involving Russia and Ukraine, president Joe Biden said he would consider personally sanctioning Vladimir Putin if he orders an invasion of Ukraine, escalating efforts to deter the Russian leader from war. In response, Russian Foreign Minister Sergei Lavrov signaled that Moscow will respond to any “aggressive” action by the U.S. and its European allies as Germany and France pursue efforts to broker a peaceful resolution to the tensions over Ukraine.

European equities rally, brushing off geopolitical tensions, with most indexes clawing back roughly 3/4 of Monday’s sharp sell off to rise over 2%. Europe’s Stoxx 600 adds as much as 2% with travel, energy, miners and autos leading what is broad sectoral support. Here are some of the biggest European movers today:

Vestas Wind Systems shares rise as much as 6%, reversing an earlier decline, after guidance for 2022 was met with relief. Handelsbanken analysts said the guidance miss was unsurprising, and the market likely feared it would be worse.
Other European renewables stocks — which have been hit hard in the recent selloff — gain after Vestas’ update, rebounding after declines triggered by Siemens Gamesa’s profit warning last week.
Travel and leisure is the best-performing sector among Stoxx 600 groups on Wednesday. Airlines including Lufthansa and IAG lead gains, with the German carrier upgraded to buy at Stifel.
AutoStore advances after being raised to buy at Citi. The upgrade follows a slump of more than 50% amid uncertainty regarding patent litigation and a broader sell-off in tech stocks.
De Longhi rises as much as 8.9%, the most intraday since March 2021, after Equita upgrades to buy from hold, citing recent underperformance and more confidence in the company’s coffee business.
Essity falls the most since Oct. 2020 after the Swedish hygiene products manufacturer reported weaker-than-expected earnings and announced further price hikes in 2022.
Orpea shares continued their descent after its CEO was summoned to the French minister for elderly policy. The French nursing home operator also denied reports it had offered a journalist money to not publish a book critical of the company.
Barry Callebaut shares fell, reversing earlier gains, after reporting 1Q sales. Citi noted “some more caution” on commodities amid waning supply of cocoa beans.

Earlier in the session, stocks in Asia were mixed after slumping across the board in the previous session, as investors awaited the Federal Reserve’s policy decision. The MSCI Asia Pacific Index was down 0.1%, on track to fall for a fourth day, with advances in communication services and financials offsetting losses in technology shares. Benchmarks in China, Hong Kong and Singapore were among the gainers, while Japan’s Topix Index fell deeper into correction territory. Asian equities have tumbled this month amid heightened volatility on the prospect of U.S. monetary-policy tightening, with the Fed expected to telegraph a March interest-rate hike on Wednesday. Worries over rising rates sent a gauge of the region’s tech hardware stocks to its lowest in months on Wednesday, with chipmakers TSMC and Samsung Electronics among the biggest drags. “There’s a lot of noise in the market right now, and I don’t think anyone’s confident that this is the bottom, because we aren’t sure about Fed policy yet,” said Kyle Rodda, analyst at IG Markets. Despite the broader drop in tech shares, Tencent advanced on dip-buying, helping to boost the Hang Seng Tech Index. The CSI 300 Index whipsawed to narrowly avoid entering a bear market

Fixed income takes a back seat. Curves adopt a modest bear steepening theme with gilts underperforming both bunds and USTs by 1-2bps. Eurodollars bear flatten a touch ahead of today’s FOMC meeting. Peripheral and semi-core spreads narrow with Italy, Belgium and France outperforming.

Treasuries are under pressure in early U.S. trade with U.S. stock index futures higher by 1%-2%, European benchmarks by 2%-3%, with travel, energy, miners and autos leading a broad advance. Front-end yields cheaper by more than 2bp with most curve spreads within 1bp of Tuesday’s close; 10-year yields around 1.785%, outperforming gilts by ~1bp. Focal point of U.S. day is Fed policy decision and Chair Powell news conference. Auction cycle pauses for Fed, concluding with 7-year notes Thursday. The stellar 2Y & 5Y auctions are underwater after stopping through (the 5Y produced record-low dealer award), There is no Fed POMO today. IG dollar issuance slate empty so far and expected to remain slim; Treasury auctions resume with $53b 7-year note sale on Thursday, following strong demand for 2- and 5-year notes earlier this week.

In FX, Bloomberg Dollar Spot is little changed but mixed price action across much of G-10. USD/JPY rises through 114, EUR/USD dips back onto a 1.12-handle. Commodity currencies trade well as crude futures drift back toward Monday’s highs.

Bitcoin extended its gains for the week, trading near $38,000.

In commodities, WTI adds 0.6%, regaining a $86-handle after the latest APIR report showed a draw in U.S. stockpiles and investors tracked tensions over Ukraine for signs the conflict may disrupt supplies. Brent climbs to about $89. Spot gold trades a tight range near $1,846/oz. Most base metals are well bid, lead by LME copper and tin; aluminum underperforms.

Looking at the day ahead now, the main highlight will be the aforementioned Federal Reserve decision and Chair Powell’s subsequent press conference, whilst there’s also a policy decision from the Bank of Canada. On the data side, we’ve got US new home sales for December, along with the preliminary December reading of wholesale inventories. Meanwhile earnings releases include Tesla, Abbott Laboratories, Intel, AT&T and Boeing.

Market Snapshot

S&P 500 futures up 1.2% to 4,399.50
STOXX Europe 600 up 1.8% to 467.79
MXAP down 0.1% to 186.79
MXAPJ little changed at 612.28
Nikkei down 0.4% to 27,011.33
Topix down 0.3% to 1,891.85
Hang Seng Index up 0.2% to 24,289.90
Shanghai Composite up 0.7% to 3,455.67
Sensex up 0.6% to 57,858.15
Australia S&P/ASX 200 down 2.5% to 6,961.63
Kospi down 0.4% to 2,709.24
German 10Y yield little changed at -0.08%
Euro down 0.2% to $1.1284
Brent Futures up 0.8% to $88.92/bbl
Gold spot down 0.1% to $1,846.69
U.S. Dollar Index up 0.15% to 96.09

Top Overnight News from Bloomberg

Federal Reserve policy makers are poised to signal plans for their first interest rate hike since 2018 and discuss shrinking their bloated balance sheet as they seek to restrain the hottest inflation in nearly 40 years
The Treasury market appears more likely to respond in a logical way to Wednesday’s Federal Reserve communications because of indications that the past week’s U.S. stock-market bloodbath cleared out a crowded camp of bets on higher yields
The employment cost index, which Federal Reserve Chair Jerome Powell cited in December as a key reason for the central bank’s pivot to a more aggressive stance on inflation, is seen registering a fourth-quarter gain nearly on par with the record increase in the prior three months
Lithuanian Central Bank Governor Gediminas Simkus warned that Europe’s economy would suffer a significant blow if tensions escalate further between Russia and Ukraine, urging politicians to step up efforts to deter hostilities
OPEC and its allies are expected by delegates to stick to their plan and ratify another modest production increase next week as they try to satisfy rebounding oil demand

A more detailed look at global markets courtesy of Newsquawk

In Asian trading, APAC markets were subdued ahead of the FOMC and holiday-quietened conditions. Nikkei 225 (-0.4%) oscillated around the 27k level after record daily COVID-19 cases. KOSPI (-0.4%) faded opening gains with attention on earnings. Hang Seng (+0.2%) and Shanghai Comp. (+0.7%) were mixed as PBoC liquidity efforts and government support signals were offset as Evergrande default woes resurfaced.

Top Asian News

Foreigners Cash Out of Key Asian Emerging Markets Before Fed
China to Start Three-Year Crackdown on Money Laundering
China Criticizes U.S. Diplomats Seeking Exit Over Covid Rules
China South City Bonds Rally as Consent Given to Extend 2022s

European bourses are firmer in an extension of yesterday’s upside, with the Stoxx 600 +2.0% on the session but still lower on the week. US futures are firmer across the board with the NQ, +2.0%, outpacing and benefitting from MSFT post earnings, +4.0% in pre-market. European sectors are all in the green with Travel & Leisure outperforming amid broker action while Oil & Gas is a relatively close second given crude action. EU antitrust decision against Intel (INTC) has been annulled in part by the EU General Court. Microsoft (MSFT) Q2 2022 (USD): EPS 2.48 (exp. 2.31), Revenue 51.73bln (exp. 50.88bln). Co. sees Q3 product revenue between USD 15.6bln-15.8bln and expects Azure revenue growth to increase significantly, while it guides Q3 rev. USD 48.5bln-49.3bln (implied) vs exp. USD 47.7bln. +4.0% in the pre-market.

Top European News

Inflation Outlook No Reason for ECB to Change Track: Simkus
Italy Asks Firms Not to Meet With Putin Amid Ukraine Crisis
Finland ‘Wise’ to Sell Long-Maturity Debt Ahead of ECB Tapering
Europe Travel Stocks Gain on Airlines Boost; Lufthansa Upgraded

In FX, Loonie loving risk recovery and WTI revival in run up to likely BoC hike. Aussie rebounds in absence of those away for a national holiday. Greenback stands firm awaiting something hawkish from the Fed. Kiwi hovering ahead of NZ CPI. -Pound pensive before Partygate findings are published. Rouble unable to benefit from Brent bounce as Russia begins big drills in Black Sea to keep geopolitical tensions elevated.

In commodities, WTI and Brent March futures have continued grinding higher despite quiet news flow as focus remains on geopolitics and the benchmarks also benefit from equity action. At best, WTI and Brent have surpassed USD 86.00/bbl and USD 89.00/bbl respectively thus far. Spot Gold remains contained amid relatively rangebound USD action while Silver is buoyed ahead of USD 24.00 /oz and touted resistance marks. US Private Energy Inventory Data (bbls): Crude -0.9mln (exp. -0.7mln), Gasoline +2.4mln (exp. +2.5mln),
Distillates -2.2mln (exp. -1.3mln), Cushing -1.0mln. Qatar’s Emir is to meet US President Biden on Monday to discuss Afghanistan and contingency plans to supply natural gas to Europe in the event of a Russian invasion of Ukraine. Qatar Emir and US President Biden are to discuss additional Qatari gas supplies to Europe in the case of a Russian-Ukraine conflict at next week’s discussions, via Reuters sources; Qatar has little spare gas for Europe as most gas is pre-sold.

Geopolitics

US State Department said the US hasn’t seen the de-escalation that is necessary if diplomacy and dialogue with Russia is to prove successful, while US Department of Defense Spokesman Kirby said the US will not rule out adding further troops to the already 8,500 on alert.
Ukraine Foreign Ministers says the proposals the US will send to Russia do not raise Ukraine’s objections; subsequently, Moscow says received some answers to security guarantee proposals, but not in written form – awaiting further details.
Ukrainian President Zelensky said the situation in the east is under control and they are working to establish that the meeting of Presidents of Ukraine, Russia, Germany, and France takes place as soon as possible.
Russian navy has commenced large-scale training in the Black Sea, according to Ifax.
UK Foreign Minister Truss, when question if they would sanction Russia’s Putin, says they are not ruling anything out.
Ukraine envoy to Japan said that they are fully committed to a diplomatic solution to the current tensions with Russia, while the envoy also stated that a full-scale war is very difficult to expect although they may see more localised conflict.

US Event Calendar

7am: Jan. MBA Mortgage Applications, prior 2.3%
8:30am: Dec. Advance Goods Trade Balance, est. -$96b, prior -$97.8b, revised -$98b
8:30am: Dec. Retail Inventories MoM, est. 1.5%, prior 2.0%; Wholesale Inventories MoM, est. 1.2%, prior 1.4%
10am: Dec. New Home Sales MoM, est. 2.1%, prior 12.4%; New Home Sales, est. 760,000, prior 744,000
2pm: FOMC Rate Decision

DB’s Jim Reid concludes the overnight wrap

With markets awaiting today’s policy decision from the Federal Reserve, yesterday marked another volatile session that saw the resumption of the equity selloff as investor jitters remained at the prospect of monetary policy tightening alongside burgeoning geopolitical tensions. Indeed, in many ways it was a repetition of Monday’s session with a further bout of wild intraday swings. At the start, the S&P 500 sold off heavily after the US open to hit an intraday low of -2.79%, with the index back in correction territory. Then it recovered to actually move back into the green for a few minutes, before selling off in the last hour to finish the day down -1.22%, closing -9.18% off its all-time highs reached at the start of the year. With Fed policy so acutely driving risk assets in recent weeks, it sets up an interesting day of communications ahead for the FOMC.

On that front, the Fed are expected to telegraph the start of their latest hiking cycle today, and our US economists write in their preview (link here) that the meeting statement and Chair Powell’s subsequent press conference should confirm that lift-off in the policy rate is likely at the following meeting in March. It comes as the unemployment has now fallen back beneath 4% for the first time since the pandemic began, while CPI in December hit +7.0% year-on-year for the first time since 1982. Our economists’ baseline is for that March hike to be the first of 4 this year, although as they’ve written recently (link here) there is the tail risk of a more aggressive pace still. The market agrees: pricing liftoff for March and 3.96 total hikes through the rest of the year. Balance sheet policy will be of particular focus. Our US econ team believes the Fed will begin QT in Q3. The year-to-date selloff of real rates and equity markets began with the Fed surprising markets by how much they were already considering an early and aggressive use of QT to augment their tightening of policy, so any incremental information will be devoured. While it’s likely too early for the Fed to deliver specific QT details today, our economists believe it’s possible Chair Powell begins to socialise a range of potential QT outcomes to start the give-and-take involved with guiding market expectations. Also of interest will be whether Powell is asked about the possibility of a larger +50bps increase in rates at some point, which had been the topic of some speculation before the latest selloff should the Fed need to tighten financial conditions quickly.

Back to the equity selloff, and there wasn’t a consistent sectoral revival story to tell yesterday, with the volatility sending the VIX higher for a 6th consecutive session to 31.16pts, the longest run of gains in over a year. Tech ended the day as the worst performer, down -2.34%, after rallying in the middle of the session, and the NASDAQ finished the day down -2.28%. Energy (+3.96%) was the key outperformer on the other hand, followed by financials (+0.47%) as the only other sector that managed to finish the day higher. Those moves came as oil rebounded from Monday’s losses, with Brent crude (+2.24%) and WTI (+2.75%) both advancing. After the close we also got earnings from Microsoft, which beat analyst sales and earnings expectations. The stock was slightly higher in after-hours trading on the growth prospects of the company’s cloud computing services. Later today we’ll get Tesla’s earnings and Apple’s tomorrow.

Amidst the equity volatility, sovereign bonds were comparatively subdued again yesterday, with yields on 10yr Treasuries down a paltry -0.2bps to 1.77%. The yield curve managed to flatten, with the 2s10s slope down -4.8bps yesterday to 74.8bps, its lowest closing level in almost a month. This is one of a number of classic late-cycle indicators Jim mentions in the chartbook, and it’s worth noting that on average the 2s10s curve has flattened by around 80bps following the first year of a hiking cycle, so if the Fed does hike in March and the curve follows that historic playbook, we could be looking at an inversion within the next 12-18 months.

Overnight in Asia, equities are putting in a more mixed performance, with the Nikkei (-0.21%), the Kospi (-0.33%) and the Hang Seng (-0.14%) seeing modest falls, whilst the Shanghai Comp is up +0.14%. Futures are pointing to a more positive session in the US and Europe today however, with those on the S&P 50 (+0.20%) and the DAX (+0.49%) both moving higher.

Back in Europe, markets followed a very different playbook yesterday. Having not been open at the time of the late US recovery on Monday, European equities advanced across the board following their rout at the start of the week, and the STOXX 600 rose +0.71%. Meanwhile, with the ECB’s Governing Council not meeting until next week, sovereign bonds also diverged from the US, with yields on 10yr bunds (+2.7bps), OATs (+2.7bps) and gilts (+3.8bps) all moving higher on the day.

With tensions remaining high between Russia and the West over Ukraine, President Biden said in response to a question that the US would consider personal sanctions against President Putin in the event of a Russia invasion. Sanctions against heads of state are an extremely rare step, but the US and others have already threatened severe sanctions if an invasion took place.

On the data side, the Conference Board’s consumer confidence index for January fell a bit less than expected to 113.8 (vs. 112.2 expected). It came as the present situation reading rose to 148.2, but the expectations measure fell to 90.8. Separately in Germany, the Ifo’s business climate indicator in January rose to 95.7 (vs. 94.5 expected), marking the first increase in the indicator after a run of 6 consecutive monthly declines.

Finally, the IMF released their World Economic Outlook update yesterday, in which they downgraded their global growth forecast for 2022 to +4.4% (vs. +4.9% in October). That included cuts to the projections for both the advanced and emerging market economies, with the US and China among those seeing the biggest downgrades. Indeed, the US forecast for this year was cut to +4.0% (vs. +5.2% in October), and China’s was cut to +4.8% (vs. +5.6% in October). One marginal respite was that 2023 did see a modest upgrade, with global growth now projected at +3.8% (vs. +3.6% in October).

To the day ahead now, and the main highlight will be the aforementioned Federal Reserve decision and Chair Powell’s subsequent press conference, whilst there’s also a policy decision from the Bank of Canada. On the data side, we’ve got US new home sales for December, along with the preliminary December reading of wholesale inventories. Meanwhile earnings releases include Tesla, Abbott Laboratories, Intel, AT&T and Boeing.

3. ASIAN AFFAIRS

i)WEDNESDAY MORNING// TUESDAY NIGHT

3 a./NORTH KOREA/ SOUTH KOREA

///NORTH KOREA

3B JAPAN

end

3c CHINA

CHINA/

end

4/EUROPEAN AFFAIRS

//EUROPE/COVID/

WHO now states that once Omicron is finished Europe will have a quiet period. No doubt Europe will reach herd immunity then. However damage from the vaccine will still prevail

(Roberts/EpochTimes)

WHO Suggests Europe Will Experience “Quiet” COVID-19 Period After Current Cases Subside

WEDNESDAY, JAN 26, 2022 – 02:00 AM

Authored by Katabella Roberts via The Epoch Times,

The World Health Organization on Monday suggested that Europe will experience a “quiet” COVID-19 period before the virus returns toward the end of the year, albeit without a full pandemic.

WHO Regional Director of Europe, Hans Kluge, told Agence France-Presse that the highly infectious Omicron variant of the CCP (Chinese Communist Party) virus, which causes COVID-19, could infect 60 percent of Europeans by March before tapering off for some time thanks to global immunity and increased vaccinations, among other things.

Omicron cases are sweeping throughout several European countries, and the EU health agency, the European Center for Disease Prevention and Control (ECDC) says that the overall level of risk to public health is “very high.”

ECDC said earlier this month that it expects more cases to emerge in the coming weeks, driven by the Omicron variant, and warned of increased worker shortages among health care and other essential workers, and potential difficulties with testing and contact tracing capacities in many EU member states.

However, once the number of cases across Europe subsides, “there will be for quite some weeks and months a global immunity, either thanks to the vaccine or because people have immunity due to the infection, and also lowering seasonality,” Kluge said.

“So we anticipate that there will be a quiet period before COVID-19 may come back towards the end of the year, but not necessarily the pandemic coming back,” he said.

Kluge’s comments come after White House chief medical adviser Dr. Anthony Fauci on Sunday said that he’s “as confident as you can be” that most of the United States will reach a peak in Omicron infections in the middle of February.

“If you look at the patterns that we’ve seen in South Africa, in the UK, and in Israel and in the northeast and New England and upper Midwest states, they have peaked and [are] starting to come down rather sharply,” Fauci told ABC’s “This Week.”

While there are still some Southern and Western states that continue to see case numbers rise, if the pattern follows the downward trend seen in other places, such as the Northeast, the United States will start to see a similar “turnaround throughout the entire country,” Fauci said.

However, the director of the National Institute of Allergy and Infectious Diseases cautioned against being “overconfident” when it comes to the virus and its potential effects across the nation.

He also noted that those areas of the country that haven’t been fully vaccinated against COVID-19 or received booster shots may still see “a bit more pain and suffering with hospitalizations.”

Kluge on Monday also cautioned that it was too early to forecast the virus becoming less severe and endemic, noting that new variants could still emerge.

“There is a lot of talk about endemic but endemic means … that it is possible to predict what’s going to happen. This virus has surprised [us] more than once so we have to be very careful,” Kluge said.

The WHO’s comments come as a growing number of European countries have rolled back their COVID-19 restrictions citing declining hospitalizations and data suggesting Omicron cases have peaked.

Beginning Jan. 27, people in the United Kingdom no longer have to wear masks in public or show proof that they’ve been vaccinated to enter some venues, Prime Minister Boris Johnson announced.

Fully vaccinated people arriving into the UK will also no longer face testing requirements as of Feb. 11.

French Prime Minister Jean Castex said on Thursday the country will start to roll back restrictions within weeks, pointing to an improvement in the country’s COVID-19 case numbers and hospitalizations.

Spanish Prime Minister Pedro Sánchez also told reporters on Jan. 10 that he wants the European Union to consider approaching COVID-19 in the same way it approaches flu.

“The situation is not what we faced a year ago,” Sánchez said in a radio interview with Spain’s Cadena SER.
“I think we have to evaluate the evolution of COVID to an endemic illness, from the pandemic we have faced up until now.”

However, Austria is moving closer to implementing a COVID-19 vaccination mandate for most adults after Parliament’s lower house on Thursday voted in favor of the proposal.

end

UK/WALES/VACCINE MANDATE

Welsh businesses demand the end of vaccine passport mandates after the government fails to prove that they work

(Watson/SummitNews)

Welsh Businesses Demand Vaccine Passport Exemptions After Government Fails To Prove They Work

WEDNESDAY, JAN 26, 2022 – 03:30 AM

Authored by Paul Joseph Watson via Summit News,

Businesses in Wales are demanding vaccine passport exemptions after the government failed to provide any evidence that the scheme prevents the spread of COVID-19.

COVID passes were introduced in Wales in October and applied to nightclubs, as well as indoor non-seated events for more than 500 people and outdoor events of more than 4,000 people.

In response to the Omicron outbreak, in December pubs were also restricted to the “rule of six” and table service only, while all nightclubs were ordered to close.

Despite restrictions supposedly being lifted later this week, nightclubs, cinemas and theaters will still be forced to demand COVID passports.

A Freedom of Information Act request was sent to the Welsh government asking for “any and all data that Welsh Government have used to develop the restrictions announced on 16th and 17th December 2021.”

“This should include but not be limited to: a. Statistical information regarding numbers of Covid cases developed from nightclubs b. Statistical information surrounding rates of transmission from businesses to be impacted by the one way system rule. c. Minutes of the meeting and all this in attendance held on 16th December by Welsh Government regarding the restrictions,” stated the FOIA request.

The government responded to to first two questions by stating, “This information is not available. There is no guarantee about where someone caught Covid-19, therefore there is no data on cases caught in specific locations.”

In other words, despite imposing COVID passports on nightclubs and numerous other venues, the government has no information on whether they work at all.

Publican Jon Bassett told Wales Online the response to the FOIA request was “unbelievable” and clearly shows that the restrictions aren’t justified.

“My WhatsApp group with other licensees is going crazy since this has gone into the public domain,” said Mr Bassett.

“I would have thought there would have to be more evidence for them to do it. I just don’t get it,” he added.

“I think there is a lot of anger because it’s been a dreadful two months. The concern we’ve got now is if there’s another variant come December this year and it happens again. I just fear we’re in a loop.”

The UK government’s own report into vaccine passports also found that the scheme not only failed to prevent the spread of the virus, it could actually worsen the situation.

England went ahead anyway and introduced vaccine passports for nightclubs in December, although those rules are set to expire later this week.

As we previously highlighted, COVID passports were introduced in Wales after a dodgy vote that the government won because a Conservative MP who was set to vote against the measure couldn’t log in to a Zoom call.

Welsh First Minister Mark Drakeford also stupidly claimed that Omicron was just as severe as Delta, while also boasting about how stricter lockdown measures had put Wales in a better place than England, despite Wales recording higher case numbers.

END

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

UKRAINE/RUSSIA/USA/ EU/UK/NATO

Crisis de-escalating fast!!

Russia-Ukraine Crisis Deescalating As NATO Countries Break From Bellicose US-UK Stance

TUESDAY, JAN 25, 2022 – 05:15 PM

Deescalation appears to be accelerating over the Ukraine crisis given a number of rapid developments which have seen lead NATO countries break from the more bellicose and threatening tone of the United States and UK. After Germany’s neutrality toward the Russia-Ukraine crisis became apparent, Sweden is the latest to follow its lead of forbidding arms transfers to Kiev, while Croatia is out with a firm statement saying it will recall all of its troops from NATO in the event of war.

This followed on the heels of Ukrainian President Volodymyr Zelensky announcing that circumstances in the region are now “under control” and that there’s “no reason to panic” according to The Associated Press.

It appears the earlier hyped messages of an ‘imminent Russian invasion’ have backfired, as Ukraine officials have now turned to castigating the media for spreading a sense of overblown panic and doom among the population. Defense Minister Oleksii Reznikov went so far as to say the threat of a Russian invasion “doesn’t exist” despite there still being “risky scenarios”. Other Ukraine defense officials have echoed this as well…

“As of today, we don’t see any grounds for statements about a full-scale offensive on our country,” Danilov had stated confidently on Monday. Here’s more from the defense chief:

“As of today, the Russian army has not formed a strike group that would be able to carry out an invasion,” Reznikov was quoted saying in local media after a meeting with lawmakers in Kyiv. “There are no grounds to think that an invasion will happen tomorrow from a military point of view.”
“But that doesn’t mean,” he said, “that they won’t develop—there are threats.”
“The Kremlin is trying to destabilize Ukraine with hybrid means, particularly by sowing panic,” he wrote in an op-ed published by Ukrainskaya Pravda a day earlier. “We must not give them the opportunity.”

This perhaps more realist sentiment is spreading, and now with a European consensus emerging that direct conflict with Russia must be avoided at all cost, the message has reached the White House, which is singing a different tune from even a day ago…

“President Joe Biden told reporters Tuesday that he does not foresee U.S. troops moving into Ukraine,” Axios writes Tuesday afternoon. Biden stressed, “There is not going to be any American forces moving into Ukraine,” which seems a reversal of the “stand by orders” he gave the day before. Here’s further details on the administration’s backing off the prior confrontational tone, as it’s looking more and more like diplomacy is winning out…

He added that the decision to put troops on high alert is “not provocative” but intended to reassure the U.S.’ allies.
“We have no intention of putting American forces, or NATO forces, in Ukraine. But as I said, there will be serious economic consequences if he moves,” he added, referring to Russian President Vladimir Putin.
Asked if he could see himself personally sanctioning Putin in the case of an invasion, Biden replied, “Yes…I would see that.”

State Department spokesman Ned Price still thought it necessary to go and act tough for the cameras – “no concessions” he warned… even as allies like France are vowing they’ll always be willing to site down dialogue and negotiate with Russia. “We will never give up dialogue with Moscow,” French President Macron said Tuesday.

And yes, there is daylight… actually massive fissures opening among NATO allies on the issue:

“No daylight” with European allies.

“The key point is that any steps that we would take would not be concessions,” Price said. “They would need to be on a reciprocal basis, meaning that the Russians would also have to do something that would help improve our security – our security posture.”

And Jen Psaki is still standing by the White House’s line of an invasion is “imminent” as of Tuesday afternoon even as the Ukrainians themselves downplay it. Additionally Biden had this to say directly of the situation:

But he made clear Putin remains something of an enigma, one whose vague intentions have have proved befuddling to him and other western leaders.
“I’ll be completely honest with you, it is a little bit like reading tea leaves,” Biden said after browsing a small gift shop and selecting a sweatshirt for his grandson.
“Ordinarily, if it were a different leader, the fact that he continues to build forces along Ukraine’s border, from Belarus all the way around, you’d say, ‘Well, that means that he is looking like he is going to do something,’” Biden went on. “But then you look at what his past behavior is and what everyone is saying and his team as well as everyone else as to what is likely to happen, it all comes down to his decision.”

All of this looks like an admission that the assessment has changed: no, at this point he’s not going to do anything we thought he was going to do, the president appears to now be admitting. The above is also a reaction to NATO showing willingness to sit down and take Moscow’s security demands seriously. According to the latest via CNN, NATO Secretary General Jens Stoltenberg has ruled out sending troops to Ukraine…

Importantly for the Russians, and after all the panic that resulted from Putin merely moving a hundred thousand troops to southern positions but within Russia’s own sovereign borders, it appears momentum is moving in their direction. Russia may get what it wants after all: guarantees of no further NATO eastward expansion – or at least for the West to take its concerns seriously.

The US previously said this demand was a “non-starter” – but given the rapid shift in atmosphere surrounding tensions, it’ll be interesting to see if by week’s end the US tune is very different.

For for time being, some level of ~~military~~ economic threats and counterthreats look to continue…

END

Russia stages snap war drills but NATO backs off its military option

(zerohedge)

Russia Stages Snap War Drills Near Ukraine As NATO Backs Off Military ‘Option’

WEDNESDAY, JAN 26, 2022 – 02:45 AM

Russia is flexing its military might further with snap war exercises near Ukraine and in Crimea announced on Tuesday, also as its navy conducts pre-planned joint drills much further south with China and Iran in the Arabian Sea.

Russian language news agencies announced that some “6,000 troops and 60 warplanes have been deployed for so-called combat readiness drills stretching across three regions near Ukraine and in Crimea, which Moscow seized from Ukraine in 2014.”

Russian fighter jets will also be involved in the large-scale exercises, including squadrons of Su-27SM, Su-30SM2 and Su-34 fighters, which will “refine interaction when performing missile strikes at a maximum distance,” the military said.

Additionally, as English-language Moscow Times details:

More than 1,500 Southern Military District soldiers will also maneuver to proving grounds “at a considerable distance from their points of permanent deployment,” according to Interfax.
Separately, the Russian Navy’s Black Sea Fleet said T-72B3 battle tank crews staged shooting drills at a Crimean firing range.

It comes a day after a handful of NATO countries including Spain, Denmark, Lithuania and possibly France began sending limited military assets including jets and frigates toward Eastern Europe. The Biden administration also put 8,500 troops on “prepare to deploy” orders, but has yet to send them East.

However, NATO appears to be rapidly backing off its threatened military “option” and deployments toward Eastern Europe reported Monday…

As for the Russian drills in the Black Sea region, which have ramped up to the point of becoming almost regular and routine of late, the US State Department recently said they go “in exactly the opposite direction” of de-escalation. There’s further preparations underway for major Russia-Belarus drills previously announced for February.

On Monday and Tuesday Russia’s Navy also kicked off joint drills in the Arabian Sea with China and Iran…

However, the Biden administration has for now continued to express hope for a diplomatic solution to the crisis, while also threatening severe sanctions, including the imposition of export controls on Russia, hitting especially its ability to access US chips – which would strain the Russian population’s access to common electronics, iPhones, and even cars. Likely in such an unprecedented move, Moscow would begin to rely more heavily on China.

Meanwhile, in the White House press briefing room, we hear bellicose talk of protecting “our” Eastern flank countries…

“Our eastern flank countries” https://t.co/Y4SZZgDAx4— Chase Madar (@ChaseMadar) January 25, 2022

end

Watch: Ukrainians Attempt To Storm Parliament Building

WEDNESDAY, JAN 26, 2022 – 08:45 AM

Social unrest erupted on Tuesday outside the parliament building in the Ukrainian capital, Kyiv, amid the escalating tensions between the US and Russia over Ukraine.

Russian news agency TASS reports small and medium-sized business owners tried to storm the Verkhovna Rada, the Ukrainian parliament, over changes to the tax system implemented this year.

Opponents of the new rules, pushed by President Volodymyr Zelensky, said the law that makes cash registers required for all businesses should be abolished. They also called for a simplified tax system.

Stunning photos and videos surfaced on Twitter showing protesters surrounding the parliament building, waving Ukrainian flags.

The protesters attempted to enter the parliament building. TASS said, “the picketers are again attempting to enter the Rada. Police cordons do not allow them to do so yet.”

Then all hell broke out. “During previous clashes, the protesters managed to break through the fence and they came very close to the parliament,” the Russian news agency said.

Ukrainian media reports at least two dozen were attested, and a number of protesters and police officers suffered injuries due to the clashes.

Rada lawmakers were evacuated from the building as the unrest outside unfolded, leaving only journalists and police officers in the building.

The unrest outside the parliament building comes as President Biden and western corporate media drum up the threat of a potential Russian invasion of Ukraine. Biden said it would be the “largest invasion since World War II.”

Biden’s remarks come as the US orders family members and embassy staff to leave Ukraine. About 8,500 US troops were put on high alert as tensions between NATO and Russia over Ukraine worsened this week.

end

US Citizens Told Depart Ukraine Now By Any Means Possible In New Embassy Alert

WEDNESDAY, JAN 26, 2022 – 11:24 AM

Ukraine in the past days has made it clear that it thinks both the US and UK’s reduction of embassy staff and their families is an overreaction. On Monday and Tuesday, Ukrainian Defense Minister Oleksii Reznikov told parliament “there are no grounds to believe” Russia will invade imminently. “Don’t worry, sleep well,” Reznikov said. “No need to have your bags packed.” Ukrainian leaders have expressed anger over the move driven by ‘hysteria’ while outright rejecting as “premature” a State Department travel advisory for Ukraine on Sunday that cited “the increased threats of Russian military action.”

Apparently undeterred by the contradiction and what it’s eastern European ally is clearly advising against, the Biden administration has pulled the trigger on Wednesday, issuing an urgent advisory telling all American citizens they should depart Ukraine amid signs of an “imminent” Russian offensive.

“The U.S. Embassy in Ukraine is urging U.S. citizens in the country to consider departing now via commercial or other privately available transportation options, citing increased threat of Russian military action,” according to Bloomberg.

The embassy’s new security alert reads precisely:

“The U.S. Embassy urges U.S. citizens in Ukraine to consider departing now using commercial or other privately available transportation options.”

Just the day prior a US Embassy official and Kiev explained that diplomats’ families at the embassy had been asked to leave the country because Russia could attack “any day now” if it chose – which echoed a prior statement by White House press secretary of Jen Psaki.

This as the US has continued to fly arms shipments into Kiev, including Javelin anti-tank missiles, which will presumably be sent to the front lines on Donbass.

In this fresh alert urging the departure of Americans, it appears Washington has its recent experience of the chaotic and botched Afghan evacuation in mind, wanting to avoid another such disaster. This after days ago the administration admitted that in the instance of a rapid Russian offensive into Ukraine, it simply wouldn’t have the capability to get all US citizens out.

end

An obvious move!!

(zerohedge)

No SWIFT, No Gas: Russia Responds To Western Threats As US Tries To Orchestrate Workaround

WEDNESDAY, JAN 26, 2022 – 03:20 PM

While the situation along the Ukrainian border appears to be deescalating – aside from US/UK’s panic coalition, a top Russian official says that if the West follows through on a threat to cut the Kremlin off from the SWIFT payment system, Europe won’t receive Russian oil, gas, or metals.Vladimir Putin signs a natural gas pipeline in the Russian Far East city of Vladivostok on September 8, 2011. (DMITRY ASTAKHOV/AFP/Getty Images)

On Tuesday, British Prime Minister Boris Johnson said he was in discussions to ban Russia from the Swift global payments system with the United States, calling it a “very potent weapon.”

“I’m afraid it can only really be deployed with the assistance of the United States though. We are in discussions about that,” he added.

Nikolay Zhuravlev, Vice Speaker of the Federation Council, responded to Johnson’s threat – telling Russia’s state-owned TASS that Europe would suffer the consequences of such a move.

“SWIFT is a settlement system, it is a service. Therefore, if Russia is disconnected from SWIFT, then we will not receive [foreign] currency, but buyers, European countries in the first place, will not receive our goods – oil, gas, metals and other important components of their imports. Do they need it? I am not sure,” said Zhuravlev – who noted that while SWIFT is convenient and fast – it’s not the only game in town when it comes to financial transactions.

“SWIFT is a European company, an association which involves a lot of countries. To make a decision on disconnection, a single decision of all participating countries is required. The decisions of the United States and the UK are definitely not enough. I’m not sure that other countries, especially those in which the share of trade with Russia is significant will support the shutdown,” he continued.

In recent years, Brussels regularly raises the topic of disconnecting Russia from SWIFT amid aggravation of relations between Moscow and the West. For the first time, the European Parliament called on disconnecting the Russian Federation from the interbank payment system in 2014 in a resolution adopted after the reunification of Crimea with Russia. -TASS

The United States, meanwhile, is in talks with major energy-producing countries and companies worldwide to line up a backup plan to provide Europe with energy if Russia invades Ukraine, according to Reuters, citing senior Biden administration officials.

“We’ve been working to identify additional volumes of non- Russian natural gas from various areas of the world; from North Africa and the Middle East to Asia and the United States,” said a senior administration official on condition of anonymity, adding “Correspondingly, we’re … in discussions with major natural gas producers around the globe to understand their capacity and willingness to temporarily surge natural gas output and to allocate these volumes to European buyers.”

Reuters reported earlier this month that State Department officials were discussing contingency plans with energy companies to ensure stable supplies to Europe if conflict between Russia and Ukraine disrupted Russian supplies.
The White House’s plan is complicated by the fact that the world’s LNG producers are already churning out as much as they possibly can. Reuters reported that the companies contacted told the U.S. government officials that global gas supplies are tight and that there is little available to substitute large volumes from Russia. -Reuters

That said, the situation in Ukraine appears to be deescalating as we noted on Tuesday, following a number of rapid developments which have seen lead NATO countries break from the more bellicose and threatening tone of the United States and UK.

To wit, after Germany’s neutrality toward the Russia-Ukraine crisis became apparent, Sweden became the latest to follow its lead of forbidding arms transfers to Kiev, while Croatia is out with a firm statement saying it will recall all of its troops from NATO in the event of war.

Hunter Biden’s Ukrainian associates must be pissed!

end

US Delivers Written Response To Russia’s Security Concerns: NATO’s Door Open To Ukraine

WEDNESDAY, JAN 26, 2022 – 02:40 PM

Russia has finally received its long awaited response to its security demands submitted to NATO and Washington earlier this month. Secretary of State Antony Blinken confirmed Wednesday that a US written response was hand-delivered to the Russian Ministry of Foreign Affairs by US Ambassador to Russia John Sullivan.

While the US response reportedly rejected Russia’s demand to bar Ukraine from NATO, it still according to Blinken’s words “sets out a serious diplomatic path forward should Russia choose it.”

Blinken announced: “The document we’ve delivered includes concerns of the United States and our allies and partners about Russia’s actions that undermine security, a principled and pragmatic evaluation of the concerns that Russia has raised, and our own proposals for areas where we may be able to find common ground.”Image: TASS

Blinken said he hopes to discuss the US response directly with Foreign Minister Sergey Lavrov in the coming days. But on the central issues of Russia’s requirement that NATO issue legal guarantees vowing no further expansion eastward, Blinken vowed the Western military alliance won’t budge, making clear that…

“From our perspective. I can’t be more clear — NATO’s door is open, remains open, and that is our commitment,” Blinken said.

“There will be no change,” he emphasized further. However, the written response could still serve to at least keep things on the diplomatic and negotiating playing field, as opposed to stoking further military build-up by both sides.

But while Blinken seemed to ready to offer some level of overtures forming the basis of further negotiations, his deputy Wendy Sherman on Wednesday repeated some of the most dire accusations and warnings.

She told a forum: “I have no idea whether he’s made the ultimate decision, but we certainly see every indication that he is going to use military force sometime perhaps (between) now and the middle of February.”

In the most specific prediction and timeframe offered so far by the administration thus far, Deputy Secretary of State Sherman gave an early to mid-February range of when the US thinks Russia will kick of a Ukraine offensive. Surprisingly and perhaps bizarrely, she made reference to China and the Olympic games, which starts of Feb. 4:

“We certainly see every indication that he [Putin] is going to use military force sometime [in Ukraine], perhaps between between now and middle of February.” She added: “I think that probably [China’s] President Xi Jinping would not be ecstatic if he [Putin] chose that moment to invade Ukraine,” in reference to the start of the Beijing Winter Olympics.

Moscow has repeatedly denied that it has any invasion plans amid its troop build-up in its southern provinces and in Crimea. Increasingly, Ukraine leaders themselves have agreed that the hype surrounding the build-up is now outpacing the reality and immediate severity of the threat.

6// GLOBAL COVID ISSUES/VACCINE MANDATE ISSUES/

CORONAVIRUS/UPDATE/VACCINE MANDATE

This will turn out to be very harmful if more variants are created.

(zerohedge)

Pfizer Begins Human Trials For New Omicron Vaccine As US Cases Tumble

TUESDAY, JAN 25, 2022 – 05:35 PM

Pfizer and its partner BioNTech just launched the first human trials of their revised COVID vaccine which has been adapted to try and provide better protection against the omicron variant. Shortly after the emergence of omicron in late November, Pfizer and its rivals all promised to produce another generation of vaccines, claiming they could have them ready within three months.

So far at least, that timeline appears mostly on track. However, an even more important question for Pfizer might be this: who will even need these jabs when they’re ready, since it looks like the omicron wave numbers will have finally tapered off by the time the trials are completed.

At any rate, the two firms said Tuesday they had begun enrolling adults ages 18 to 55 for trials taking place in the US and South Africa. The trials will seek to examine the safety, tolerability and, most importantly, the immune response generated by the new vaccines, per WSJ. The big question will be whether they do what their makers have created them to do, or not.

At least one human subject has already received a shot of the new vaccine, Pfizer said Tuesday. Initial trial results are expected some time during the “first half of the year”. But Pfizer CEO Albert Bourla has said that the company could receive approval for the jab from federal regulators as early as March.

Dr. Fauci still believes it’s “entirely conceivable” that a fourth booster will be needed, as we reported the other day. And speaking on MSNBC earlier, the good doctor warned that it would be “prudent” to prepare for the likelihood that omicron will persist at pandemic levels for some time. He even stressed that an omicron-focused vaccine would help humanity prepare for the eventuality that the omicron-driven wave persists.

However, case numbers have fallen substantially in South Africa, while also appearing to have turned the corner in the US, UK and elsewhere across Europe, globally, the number of newly confirmed cases of the virus has continued to rise.

Despite Bourla’s cheery rhetoric about the possibility of only requiring one COVID booster per year, US regulators are already questioning whether more jabs are even necessary it seems. US health authorities have said that boosters targeting omicron might not be needed, since it’s unclear whether future dominant variants will be descents of omicron, or other strains.

Research shows that certain mutations in the omicron variant allow it to more effectively bypass what little protections vaccines from Pfizer and Moderna actually offer.

As for the new trials, the two firms said they would test how the vaccine performs in three groups of volunteers, with some of the subjects coming from the study that led to the current vaccine’s clearance in 2020. Researchers plan to enroll up to 615 people who received the two-dose primary series of the current vaccine 3-6 months prior to their enrollment.

Once enrolled, they will receive either one dose of the omicron-focused vaccine, two doses four weeks apart from each other, or a third dose. Additionally, researchers will also recruit up to 600 people who received three doses of the current vaccine 3-6 months ago. These subjects will receive either one dose of the omicron jab, or a fourth dose of the current shot.

end

CANADA

Prime Minister Trudeau has now stated that the truckers are terrorists:

Special thanks to Milan S for sending this to us:

Act of terrorism

Inbox

END

We Drive – YouTube

Inbox

Apparently, when the trucks arrive in Ottawa on the 29th there will be 50,000 trucks.
Perhaps, Trudeau will find some courage to stand for freedom in Canada as opposed to being a lap dog for Klaus and the WEF and their agenda, which is collapsing in Europe. American truckers are on the way to shut the border in support. North America moves by truck so there will be a fallout, no question
Interesting his poll numbers are lower than Biden’s.
Fascinating to see what comes forth from this.

>
> https://www.youtube.com/watch?v=zUKcjYaz4sU
>
>
> Cheers
> Robert

END

From the expose: triple vaccinated are developing Acquired Immunodeficiency Syndrome at an alarming rate

(The Expose)

Triple Vaccinated are developing Acquired Immunodeficiency Syndrome at an alarming rate according to Government data

BY THE EXPOSÉ ON JANUARY 21, 2022 • ( 25 COMMENTS )Listen Now

An investigation of 5 months worth of official UK Government data confirms predictions previously made by The Expose that the Covid-19 “booster” dose would provide a very short lived temporary boost to the immune systems of the vaccinated population before continuing to decimate their immune systems but at a much more rapid pace.

In short, official UK Government data strongly suggests that the Covid-19 vaccinated population are developing some new form of Covid-19 vaccine induced acquired immunodeficiency syndrome at an alarming rate.

The UK Health Security Agency (UKHSA) publish a weekly Vaccine Surveillance Report, with each report containing four weeks worth of data on Covid-19 cases, hospitalisations, and deaths by vaccination status. For our investigation we analysed 5 of these published Vaccine Surveillance Reports containing data from August 16th 2021 to January 2nd 2022, in order to get a clear picture on the effect the Covid-19 vaccines are having on the immune systems of the vaccinated population, and this is what we found…

https://dailyexpose.uk/2022/01/21/triple-vaccinated-are-developing-aids-gov-data/

end
This tells the real story!! Just like at the ICU figures from Israel. This country is the highest vaxxed country in the world.

ICU in Israel vs other countries

Inbox

Mark Organ

More vax, more sickness and death. How are people not seeing this? This is for sure due to the spike in 4th dose, we have seen this every time.

And these are just Covid-19 deaths, not the massive number of heart attacks etc from vax injuries.

Sent from my iPhoneAttachments area
https://mail.google.com/mail/u/0?ui=2&ik=8d5df976d6&attid=0.1&permmsgid=msg-f:1723014709469258752&th=17e960bfd4b02400&view=att&disp=safe

GLOBAL GLOBAL NEWS

VACCINE IMPACT

Vaccine Impact

Michael Every

on the major topics of the day

Michael Every….

Rabobank: IF There Is A Fed Club, Why Can’t They Raise Rates AND Pump Markets?

WEDNESDAY, JAN 26, 2022 – 01:05 PM

By Michael Every of Rabobank

Let’s start with the Fed, and some thoughts that will needle. Stocks slumped in Asia, Europe, and the US session Tuesday – then the US magically rallied again, but not into the green. “The first rule of Fed Club is you don’t talk about Fed Club”; but did someone forget to sell enough bullish puts? Some may not like the idea that central banks are playing with markets, but as Groucho Marx said, “These are my principles. If you don’t like them I have others.” For example, IF there is a Fed Club, why can’t they raise rates AND pump markets? If secretly selling puts holds up stocks, and you can do that AND raise Fed Funds to pretend you are serious about supply-side inflation you can’t control,…then why not?

Similarly, why can’t you raise rates AND do QE? Yes, ‘they run in opposite directions on yields’. But if you want to finance a huge budget deficit while cooling the heels of the rest of the economy, buy freshly issued government bonds, with higher coupons flowing back to the treasury to boot, and raise rates.

It’s what one sees in a war economy.

On which, we published a note called “The Ukraine Metacrisis” yesterday underlining that:

Markets are significantly mispricing the odds of an impactful war happening over Ukraine, with major volatility implied for energy, grains, fertilizer, metals, rates, and FX.
The market impact of US sanctions could be extraordinary; at worst, they could bifurcate the globe into complying and non-complying countries – yet a failure to use sanctions would show US powerlessness to prevent Russia moving on Ukraine; and
This is a metacrisis that will see an acceleration towards a different globalization in which the US can still thrive, but with huge challenges for many others, including the EU.

Recent developments underline and amplify that message.

In terms of war: more troops and equipment are still arriving from all over east, and west; the US is flagging it may send more than 8,500 soldiers to the EU; more NATO/Quad countries are asking nationals in Ukraine to leave or making lists of them (as the US flags it won’t help you if anything happens); and China’s Global Times has an exclusive – “Dirty trick again! US plots to authorize departure of staff from embassies in China over epidemic ahead of Beijing Olympics”. Over Covid, eh?

In terms of economics and finance: President Biden has stated a Russian invasion would “change the world”; a Russian senator has warned that if Russia is cut off from SWIFT, Europe won’t receive Russian oil, gas, or metals – but that it can work around a SWIFT ban anyway, and expects other countries to join it in that effort; and the White House has stressed that it will redirect global gas supplies from elsewhere to Europe and use Huawei-style global export controls as a primary economic sanctions tool against Russia, cutting it off from US technology, computing, aviation, etc.

In short, the fattening tail risks are of a tipping point towards a bifurcated global economy – no matter how illogical some of the projected market pricing then is (i.e., supply gluts in some places, shortages in others). It still seems unlikely the present phase of this metacrisis will get us to that endpoint: but it is a large step in that direction, and if it extends to Asia the probabilities will shift.

The same bifurcation of economic ecosystems is already evident in musician Neil Young (who is old enough that Lynyrd Skynyrd asked him musical questions) has demanded his music is removed from Spotify because it also hosts Joe Rogan. As Rolling Stone magazine, which used to lionise 70’s ‘rawk’n’rewl’ excesses but is now deeply political and politically-correct, notes: “Young’s letter was addressed to his manager and a Warner executive. At press time, Spotify hadn’t responded to a request from Rolling Stone asking if they planned to remove Young’s music. It’s still available, but it might be smart to listen to Zuma and Rust Never Sleeps while you still can. They could disappear at any moment.“ And so could lots of other things – because once we start down the road of responding to feeling needled by imposing a “me or them” binary, damage is done. When do they come for Eric Clapton, one asks, as we “Keep on rockin’ in the ‘free’ world.”?

Meanwhile, the IMF (“Keep on rockin’ in the ‘free markets’ world”) just released its latest outlook, which stresses the world economy rests on one dyad: the Fed and Chinese housing. The former is looking tragicomically wrong unless they ‘raise and pump’, say markets; the latter sees Bloomberg report local government vehicles are buying land plots over the heads of struggling developers at above market valuation when that land is owned by the local government – borrowing money to buy assets from themselves to crack down on private developers and yet not the overall economy. Why are we so close to a global bifurcation when we actually have so much in common?!

Of course, this overlooks the inherent risks to markets of the Fed tightening and China loosening (wild swings); which would also run true for the Fed loosening and China tightening (wild swings); and for the Fed and China both tightening (wild crash); or, note well, of the Fed and China both loosening (wild inflation – and even Singapore’s MAS tightened unscheduled yesterday for only the third time in 20 years). Think about that and one starts to see the *logical* appeal of much deeper bifurcation: or of central global planning. But I have probably needled too much today already.

Except I also have to add that we will now get to see more details of the police interrogation of British PM BYO; a looming, critical report into his Conservative ‘Party’; and what will be No. 10 attempts to spin all this as ‘Fifty Shades of Gray’ rather than “I’ll get my coat”. Moreover, in Italy there is still no white smoke as they try to elect a new president, with potentially major implications for markets. Throw in a new, clashing German leadership and an election in France in months, along with deeply unpopular US leadership, and it’s hardly the perfect backdrop for the kind of ‘thread the needle’ geopolitical decisions that will have to be made to avoid causing too much damage.

7. OIL ISSUES

8 EMERGING MARKET& AUSTRALIA ISSUES

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

AUSTRALIA

END

* * *

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

Euro/USA 1.1278 DOWN .0025 /EUROPE BOURSES //ALL GREEN

USA/ YEN 114.18 UP 0.292 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3516 UP 0.0005

Last night Shanghai COMPOSITE CLOSED UP 22.61 OR 0.66%

Hang Sang CLOSED UP 46.29 PTS OR 0.19%

AUSTRALIA CLOSED HOLIDAY // EUROPEAN BOURSES OPENED ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES ALL GREEN

2/ CHINESE BOURSES / :Hang SANG CLOSED UP 46.29 OR 0.19%

/SHANGHAI CLOSED UP 22.61 PTS OR 0.66%

Australia BOURSE CLOSED HOLIDAY

(Nikkei (Japan) CLOSED DOWN 120.01 PTS OR 0.44%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 1846.70

silver:$23.92-

USA dollar index early WEDNESDAY morning: 96.07 UP 30 CENT(S) from TUESDAY’s close.

THIS ENDS WEDNESDAY MORNING NUMBERS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing WEDNESDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.61% UP 4 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +0.141% DOWN 0 AND 1/10 BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.68%// UP 4 in basis points yield from yesterday.

ITALIAN 10 YR BOND YIELD 1.34 UP 5 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 66 points higher than Spain.

GERMAN 10 YR BOND YIELD: RISES TO -0.068% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.41% 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 WEDNESDAY

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

Euro/USA 1.1282 DOWN .0021 or 21 basis points

USA/Japan: 114.34 UP 0.442 OR YEN DOWN 44 basis points/

Great Britain/USA 1.3515 UP 7 BASIS POINTS

Canadian dollar UP 19 pts to 1.2690

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed ON SHORE (CLOSED UP)..6.3209

THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)..6.3281

TURKISH LIRA: 13.59 EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.

the 10 yr Japanese bond yield at +0.14

Your closing 10 yr US bond yield UP 2 IN basis points from TUESDAY at 1.791% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield: 2.128 UP 1 in basis points

Your closing USA dollar index, 96.10 UP 15 CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED UP 98.32 PTS OR 1.33%

German Dax : CLOSED UP 335.52 points or 2.22%

Paris CAC CLOSED UP 144.66 PTS OR 2.11%

Spain IBEX CLOSED UP 140.70PTS OR 1.66%

Italian MIB: CLOSED UP 590.36 PTS OR 2.47%

WTI Oil price 87.70 12: EST

Brent Oil: 90.23 12:00 EST

USA /RUSSIAN / RUBLE FALLS: 80.06 THE CROSS HIGHER BY 176 RUBLES/DOLLAR (RUBLE LOWER BY 176 BASIS PTS)

GERMAN 10 YR BOND YIELD; -.068

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.1243 DOWN .0591 OR 59 BASIS POINTS

British Pound: 1.3459 DOWN .0050 or 50 basis pts

USA dollar vs Japanese Yen: 114.55 UP .661

USA dollar vs Canadian dollar: 1.2677 UP .0061 (cdn dollar DOWN 61 basis pts)

West Texas intermediate oil: 86.40

Brent: 89.32

USA 10 yr bond yield: 1.850 UP 8 points

USA 30 yr bond yield: 2.168 UP 5 pts

DOW JONES INDUSTRIAL AVERAGE: DOWN 129.64 PTS OR 0.38%

NASDAQ 100 up 23.64 OR .17%

VOLATILITY INDEX: 31.27 UP .11 PTS

GLD/NYSE CLOSING PRICE $169.76 down $2.82 OR 1.63%

SLV/NYSE CLOSING PRICE: $21.72// down $.30 OR 1.36%

end)

USA trading day in Graph Form

Stocks & Bonds Puke As Powell Hints At “Sooner, Faster” QT

WEDNESDAY, JAN 26, 2022 – 04:01 PM

It started off well enough: milliseconds after the Fed statement and associated Fed balance sheet “principles” were released, algos quickly skimmed the key bullet points before they realized that there were no landmines in the statement: indeed, all the biggest hawkish fears had been defused with the Fed not announcing an early end to tapering, an early start to rate hikes and certainly nothing on the fears 50bps rate hike.

Drilling into the statement, the Committee announced the final two reductions in the amount of their monthly asset purchases, which will bring purchases to an end in “early March” and the Committee now expects that it will “soon be appropriate” to raise the funds rate – which will almost certainly happen at the next FOMC meeting in March—and updated the statement to note that inflation is “well above” the FOMC’s two percent target (previously characterized as “having exceeded 2 percent for some time”) and that the labor market is “strong,” dropping the judgment that the economy is short of full employment.

Separately, the Committee released a new set of normalization principles for reducing the size of the Fed’s balance sheet. The principles state that balance sheet reduction will start “after the process of increasing the target range for the federal funds rate has begun,” implying that the Committee may decide to start normalization at any meeting after March. This contrasts with the previous cycle’s normalization principles, which stated that balance sheet reduction would begin “once normalization of the level of the federal funds rate is well under way.” While the Committee did not specify a pace for normalization, the principles note that the Committee intends to reduce the size of the balance sheet “primarily by adjusting the amounts reinvested of principal payments,” suggesting that active asset sales are unlikely as part of balance sheet reduction. The Committee also noted that it “intends to hold primarily Treasury securities” in its balance sheet over time.

So far so good, because there was nothing here that the market did not anticipate or had priced in.

And then Powell started talking… and all hell broke loose, as stocks, bonds, and gold all tumbled post-Fed as the dollar rallied.

So what exactly did Powell say to upset the algos so much?

Well, a few things, starting with Biden’s admission that the Fed is launching the most historic tightening cycle with virtually zero visibility, when he said “the outlook is quite uncertain.”

Paradoxically, when it comes to the pace of rate increases, Powell was non-committal… which is not hawkish on its own. But as Bloomberg notes, the market may struggle on how to interpret that as the presumed pace is once a quarter. It could leave the door open to a more aggressive path than currently projected. But it could imply a readiness to pull back if downside risks were suddenly realized.

That said, Powell apparently did have enough visibility to provide soft guidance: asked whether rate increases can undercut inflation without harming the labor market, Powell was optimistic, and issued a comment that immediately took the wind out of equity markets’ sails by signaling, inadvertently or not, a more lengthy tightening cycle than expected: “I think there’s quite a bit of room to raise interest rates without without threatening the labor market.”

Powell continued his double-speak…

“Economy no longer needs sustained high levels of monetary support.”

BUT…

“Of course, the economic outlook remains highly uncertain.”

And for those hoping for the Fed Put, Powell curb-stomped that idea being anywhere near:

“Asset prices are somewhat elevated,” Powell says.
They don’t now pose a threat to financial stability, he says.

But the final straw was when Powell admitted that the Fed is “willing to move sooner” and “perhaps faster” than last time in shrinking the balance sheet. adding that “we want the balance sheet to be declining in a predictable manner,” by adjusting the reinvestment of maturing debt, to try to clam the panic.

But that didn’t help as stocks all puked into the red for the day (and week), only to bounce the moment Powell stopped speaking…https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&frame=false&hideCard=false&hideThread=false&id=1486437050769453056&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Fstocks-bonds-puke-powell-hints-sooner-faster-qt&partner=tweetdeck&sessionId=b5011dd9595373113edcb8ce3c631779f00204b1&siteScreenName=zerohedge&theme=light&widgetsVersion=75b3351%3A1642573356397&width=550px

And yes, we have another historic milestone: the S&P 500 erased a 2% advance for first time since April 2020 and was down 0.3% at the close. The Nasdaq managed to desperately scramble back to unchanged on the day…

This was the market’s worst performance on an FOMC day in at least a year…

Source: Bloomberg

In his post-mortem of Powell’s presser, Bloomberg’s Intelligence economist Carl Riccadonna said the market reaction to the presser (particularly the move in the short end of the yield curve) seems to hinge on signaling from Powell that they’re going to do more on the interest-rate front initially, especially since Powell said that the committee has not yet gelled around the plan for balance-sheet runoff.

Echoing this sentiment, Alex Chaloff, co-head of investment strategies at Bernstein Private Wealth Management, notes that a hawkish sounding Powell is the driver for the selloff, and identifies this remark from the Fed chair as setting the tone: “I think there is plenty of room to raise rates without threatening the labor market.” Chaloff concludes: “That’s bold for someone as careful as Powell.”

Others were even more critical: Jason Brady, president and CEO at Thornburg Investment Management, said that “many commentators have made the point that the Fed does not want to ‘surprise’ markets. I think that is simultaneously true and regrettable. It is precisely in giving markets what they want in the near term that the Fed has painted itself into a corner.”

Of course, it is possible that Powell was merely clueless instead of telegraphing to the market what it will do. This is certainly possibly considering that financial conditions have tightened materially since the Fed’s hawkish pivot last November – with much of the Nasdaq (and S&P) now in a bear market – and this is surely factoring into policymakers’ assessment of the appropriate pace of normalization.

Indeed, as Bloomberg put it, “A predictable normalization path should help engineer an easy landing, but if financial conditions tighten too sharply between now and then, particularly in the credit markets, the Fed risks inducing a sharper economic slowdown than they may deem desirable.”

But for now algos are selling first, and asking questions later as the dismal market reaction to Powell’s presser confirms, which manifests itself not only in the puke in risk assets which have wiped out all intraday gains and are now down on the day, but also in the far more ominous, and recession pre-signaling collapse in the yield curve.

Bonds were a bloodbath with the short-end dramatically underperforming…

Source: Bloomberg

This was the biggest jump in 2Y Yields since March 2020…

Source: Bloomberg

Rate-hike expectations rose modestly at the shortest-end (March fully priced in), but for Dec 2022, rate-hike expectations rose significantly with a 50% chance of a 5th hike this year now…

Source: Bloomberg

The yield curve flattened significantly – some might it collapsed – to its flattest since April 2020…This is screaming a Fed policy error is imminent.

Source: Bloomberg

The dollar surged above yesterday’s highs, back near its highest level of the year…

Source: Bloomberg

Bitcoin pumped and dumped after The Fed, reaching $39k before dumping back below $37k…

Source: Bloomberg

Gold was clubbed like a baby seal as the dollar ripped…

Oil prices remain higher, despite weakness post-Fed as geopolitical tensions dominated. WTI made it back above $87 intraday – its highest since Oct 2014…

Finally, we note that a crashing stock market will probably not help the situation in this chart…

Source: Bloomberghttps://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&frame=false&hideCard=false&hideThread=false&id=1486437767542362113&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Fstocks-bonds-puke-powell-hints-sooner-faster-qt&sessionId=b5011dd9595373113edcb8ce3c631779f00204b1&siteScreenName=zerohedge&theme=light&widgetsVersion=75b3351%3A1642573356397&width=550px

Additionally, Bloomberg’s Ye Xie raised the specter of Powell’s rookie mistake in 2018… Back then, his hawkish comment that Fed policy needs to “go past neutral,” and “we’re a long way from neutral at this point, probably” caused market turmoil. Well, this comment today is likely to have taken the euphoria out of the stock market:

“I think there’s quite a bit of room to raise interest rates without without threatening the labor market.”

That’s certainly wasn’t music to ears of stock investors then and likely won’t be now either.

Source: Bloomberg

Time to unleash the FedSpeak!

end

I) MORNING/AFTERNOON TRADING/

FOMC

Fed Warns “Soon To Be Appropriate” To Raise Rates, QE Ends In March

WEDNESDAY, JAN 26, 2022 – 02:05 PM

Since the last FOMC meeting, on December 15th, Gold is the lone asset-class that is higher while bonds and stocks have been monkey-hammered and the dollar is weaker…

Source: Bloomberg

All US equity markets are lower since the last Fed meeting with Tech/hyper-growth hammered and all the bubble-markets blowing up.

Financial Conditions have tightened significantly since the last Fed meeting (after easing dramatically into the Santa Claus rally)…

Source: Bloomberg

Rate-hike expectations have soared since the last Fed meeting too with March now fully priced-in and more than 4 hikes priced in by year-end. The last few days of market weakness prompted a dovish drop in rate-hike odds, but the last two days have seen it shift hawkishly once again…

Source: Bloomberg

And before we get to The Fed’s decision, there is also this chart to consider… President Biden’s approval rating has crashed below that of Trump’s…

Source: Bloomberg

We suspect the politicians will learn that lack of jobs is way worse for being reelected than inflation… and indirectly pressure The Fed (if they haven’t already) to walk-back the QT and rate-hike trajectory plans… at least until after November maybe.

So what did The Fed say/do…

The market is pricing-in liftoff in March (followed immediately by QT) and four rate-hikes by year-end (just like The Fed’s “Dots”) – did Powell and his pals jawbone any of that hawkishly or dovishly today?

In a word: NO.

The Fed says it “will soon be appropriate” to raise funds rate.
The Fed says asset-purchases will end in March…

And The Fed says that balance-sheet-shrinking (QT) will start after rate-hikes commence.
The Fed intends primarily to hold Treasuries in the longer run.

Finally, The Fed believes, “overall financial conditions remain accommodative.”

All of which means the timeline remains as follows:

With the QT schematic forecast to be as follows (given the roll-off, roll-over plans):

Arguably the Fed was ‘dovish’ because it did not bring forward the end of QE or explicitly name a time for QT. Mohamed El-Erian is not happy that The Fed wasn’t more hawkish…

Danielle DiMartino Booth, CEO and chief strategist of Quill Intelligence and a former adviser to Richard Fisher, the former president of the Dallas Fed, says:

“The Fed’s biggest challenge is figuring out how to implement policy measures that are hawkish enough to lower inflation, but that also keep financial markets afloat, because volatility in financial markets may bleed into an economy that is already showing signs of slowing. The Fed is faced with choosing the lesser of two evils.”

* * *

Of course, we know what the stock market will do… at least to start with anyway…

* * *

Read the full redline below: SEE ZEROHEDGE

II) USA DATA

US New Home Sales Explode Higher In December, Ahead Of Mortgage-Rate Rip

WEDNESDAY, JAN 26, 2022 – 10:08 AM

Following an unexpected plunge in existing homes (unexpected for analysts, not so much for rational-thinking average-joes), expectations were for a big slowdown in new home sales from +12.4% MoM in November to +2.2% MoM in December. Consensus was wrong, very wrong… December New Home Sales screamed 11.9% higher MoM (the biggest MoM rise since July 2020 since November was revised lower to +11.7% MoM)…

Source: Bloomberg

For the full year, sales decreased to 762,000 from 822,000 in 2020 (-14% YoY), but the total SAAR of new home sales ripped to its highest since March 2021…

Source: Bloomberg

An increase in the number of completed homes over the last two months and prospects of higher interest rates this year as the Federal Reserve tightens monetary policy may have encouraged a pickup in contract signings.

The median sales price of a new home climbed 3.4% from a year earlier to $377,700.

Finally, perhaps the last two months of insane surges in new home sales will start to slow as mortgage applications continue to slide as mortgage rate soar (rates are 50bps or more higher now than when the sales data hit above). Last week saw mortgage apps plunge 7.1% to the lowest since Jan 2020…

Source: Bloomberg

And Powell ending MBS buying and hiking rates won’t help that situation.

END

This is a huge negative to the calculations of GDP: a huge deficit in goods of over $1 trillion dollars@!!!

(MarketWatch)

U.S. trade deficit in goods tops $1 trillion in 2021 for first time on record appetite for imports

Jan. 26, 2022 at 8:53 a.m. ET

MarketWatchAmericans spend huge sums on imports, but exports lag behind

The numbers: The U.S. trade deficit in goods topped $1 trillion in 2021 for the first time ever, as an economic recovery enabled Americans to snap up a record amount of imports such as toys, cell phones and appliances.

For all of 2021, the trade gap in goods rose to $1.08 trillion from $893.5 billion in the prior year. The deficit in 2020 had also been a record high.

The deficit in goods increased 3% in December to $101 billion from $98 billion, according to an advanced government estimate. It was the biggest monthly increase on record.

Big picture: The speedy rebound in the U.S. economy compared to most other countries — fueled by massive government stimulus — helps explain the record trade deficit. Americans could afford to buy more foreign-made goods, and they did.

Demand for U.S. exports was slower to bounce back because other countries lagged behind in their economic recoveries.

The deficit is expected to subside once other countries catch up, but the U.S. has run large trade gaps for years and there doesn’t appear to be any end in sight.

Key details: U.S. imports advanced 2% in December to $258.2 billion.

Exports edged up 1.4% to $157.3 billion.

The overall trade deficit in 2021 is expected to fall short of $1 trillion since the U..S. regularly runs a surplus in services such as tourism and travel. The total gap is likely to be just under $800 billion.

More details will be released next week when the government publishes the full December report on the U.S. trade balance.

Also in the trade report, the government said advanced retail inventories jumped 4.4% in December. Wholesale inventories increased 2.1%, preliminary data show.

Businesses have been trying to boost production to keep up with strong customer demand, but they’ve been dogged by persistent labor and supply shortages.

Looking ahead: “The omicron variant threatens to fuel an even wider deficit in as virus concerns weigh on global growth and tourism, putting downward pressure on US exports, while domestic goods demand stays robust,” said U.S. economist Mahir Rasheed of Oxford Economics.

IIb) USA COVID/VACCINE MANDATE STORIES

More and more insurance companies are noting a huge jump in death payouts amid a 40% rise among prime age Americans

(Conan Milner/EpochTimes)

Insurance Companies Note Jump In Death Payouts Amid 40% Rise Among Prime-Age Americans

TUESDAY, JAN 25, 2022 – 11:15 PM

Authored by Conan Milner via The Epoch Times (emphasis ours)

Insurance companies are reporting a jump in death payouts due to a dramatic rise in the number of deaths. The rise in the death rate is being corroborated by death certificate data from the Centers for Disease Control and Prevention (CDC).More people are dying at younger ages and it’s not because of COVID-19. But it isn’t the government making a fuss about it, it’s life insurance companies.(IR Stone/Shutterstock)

The death rate is up by 40 percent from pre-pandemic levels according to Scott Davison, chief executive of OneAmerica, a major insurance company based in Indianapolis. During an online news conference on Dec. 30, 2021, Davison said the change was unprecedented.

“We are seeing, right now, the highest death rates we have seen in the history of this business,” he said.

OneAmerica sells life insurance to employers nationwide, and similar figures are found throughout the industry.

“The data is consistent across every player in that business,” Davison said. “And what we saw just in the third quarter—we’re seeing it continue into the fourth quarter—is that death rates are up 40 percent over what they were pre-pandemic. Just to give you an idea of how bad that is, a three-sigma or a one-in-200-year catastrophe would be a 10 percent increase over pre-pandemic. So 40 percent is just unheard of.”

This 40 percent figure doesn’t represent folks dying of old age, but is instead a reflection of deaths in working-age adults, aged 18 to 65. However, what’s responsible for the alarming spike in fatalities in this age group isn’t clear.

With all of the concern about COVID-19 lately, the contagion seems a likely choice. But according to Davison, something else is at play. He said the data coming from insurance companies—entities in the business of paying out when people die—show that the deaths being reported as COVID-19 fatalities “greatly understate” the actual deaths from working age people hit by the pandemic, as most of the claims being filed aren’t being classified as COVID-19 deaths.

“It may not all be COVID on their death certificate, but deaths are up just huge, huge numbers,” he said.

Also taking part in the news conference was Brian Tabor, president of the Indiana Hospital Association. He also noted a dramatic rise in illness from a different perspective. Tabor said hospitals across Indiana were being flooded with patients “with many different conditions.”

In October 2021, The Times of India reported that health insurers saw a “huge surge in non-COVID claims,” with the head of interventional cardiology at a Mumbai, India, hospital noting a 40 percent increase in heart problems compared to the previous six to eight months.

Ever since COVID-19 hit, the world has been bracing itself for huge numbers. Most recently in a White House press briefing on Dec. 17, 2021, President Joe Biden warned that unvaccinated Americans can look forward to a “winter of severe illness and death for yourselves, your families, and the hospitals you may soon overwhelm.”

Still, such astronomical figures emerging all of a sudden are hard to fathom. The pandemic has worn on for nearly two years, and health officials have been keeping a close eye on the death count. What could account for such a dramatic jump at the end of 2021?

[ZH: Answering this question is Epoch’s Petr Svab with an in-depth analysis – buckle up]

Americans have been dying at a significantly higher rate over the past two years or so, but the COVID-19 disease tells only part of the story. Among seniors, the pandemic could explain the increase in mortality more easily than among younger people, where there’s a gap requiring further explanation.

Overall, there appear to be three distinct patterns in the data based on age:

Among those of age 0 to 17, mortality remained virtually unchanged since 2019.

Among those who were 65 or older, mortality increased in 2020, dropped in the first half of 2021, coinciding with the proliferation of the COVID-19 vaccines, and then increased in the third quarter of 2021, coinciding with the emergence of the Delta variant, which appeared more resistant to the vaccines.

Among those aged 18 to 49, mortality rose dramatically in the first half of 2020, then somewhat plateaued before increasing again in the third quarter of 2021.

The 50 to 64 age group appears to be a mix of the latter two patterns.

COVID-19 Impact

The differences between age groups become more apparent when deaths involving COVID-19 are highlighted.

Under the age of 18, COVID-related deaths barely register when visualized.

For those aged 75 and older, the novel disease more than explains any increases in mortality. For those aged 65 to 74, deaths were on the rise long before the pandemic. Excluding the COVID deaths leaves increases slightly above the previous trend.

Among those aged 18 to 65, however, there emerges the opposite phenomenon—after exclusion of COVID deaths, a significant hike in mortality remains. The non-COVID increase appears more pronounced in the younger age groups and less in the older ones.

There are several factors that would explain at least part of the excess deaths.

Drugs, Alcohol, Murder

Drug overdoses skyrocketed in 2020 with more than 20,000 more dying in the 18–64 age group than the year before. The Centers for Disease Control’s (CDC) preliminary data for the first half of 2021 indicates the trend even somewhat intensified.

There are several factors that would explain at least part of the excess deaths. Drugs, Alcohol, Murder Drug overdoses skyrocketed in 2020 with more than 20,000 more dying in the 18–64 age group than the year before. The Centers for Disease Control’s (CDC) preliminary data for the first half of 2021 indicates the trend even somewhat intensified.

Deaths involving alcohol—not just alcohol poisoning, but also those due to alcoholic cirrhosis of the liver and other alcohol-induced causes—have been on the rise in recent years, but the 2020 increase was particularly significant. Nearly 8,000 more died in 2020 than the year before in the 18–64 age group. The 2021 data is not yet available.

Homicide deaths increased nearly 30 percent from 2019 to 2020 in the 18–64 age group, accounting for nearly 4,000 excess deaths. Last year is shaping up to be similarly homicidal, based on CDC’s preliminary data for the first half of 2021.

With COVID-19 deaths excluded and assuming drug overdoses, alcohol, and homicide deaths continued in 2021 at a similar intensity as the year before, there was still about 50,000 excess deaths last year in the 18-64 age group.

Misclassified, Overwhelmed

The CDC and some experts argue that the excess deaths could be misclassified COVID-19 deaths as well as deaths due to lack of care because of hospitals overwhelmed with COVID patients. They point to the fact that about third of Americans die at home. Their death certificates would be probably written by attending physicians who may not test the patient for COVID-19.

The CDC issued guidance on June 15, 2020, that all people suspected of dying of COVID-19 should be tested post mortem, but it’s not clear to what degree medical practitioners are following through on it.

This explanation may be limited for several reasons.

Deaths at home indeed increased with the onset of the pandemic, from less than 32 percent in 2019 to more than 36 percent in June 2020. But then the rate dropped again, to less than 31 percent in December 2020. If people were forced to die at home because medical care wasn’t available to them, it doesn’t appear to have been widespread enough to explain the excess mortality gap.

The argument for misclassified COVID deaths usually assumes that the dying person was suffering from multiple ailments and the attending physician failed to note COVID-19 as at least a contributing factor. It’s not clear how often that applies to younger people who are generally healthier and among whom COVID-19 deaths are rarer and may stand out more.

Finally, the argument appears to use backward reasoning—assuming the excess deaths are caused by COVID-19 and then seeking supporting logic on how that could be.

Vaccines

There’s a growing group of doctors and researchers who point to the COVID-19 vaccines as a possible culprit in at least a part of the excess deaths last year. They usually point to several physiological mechanisms through which the vaccines could cause harm combined with known side effects as well as data from the Vaccine Adverse Event Reporting System (VAERS), a database of reports of health problems that have occurred after a vaccination and may or may not have been caused by it.

VAERS reports exploded with the introduction of the COVID-19 vaccines. By Jan. 7, there were over a million reports, including more than 21,000 deaths. Previously, there would be about 40,000 reports and a few hundred deaths a year. They are largely filed by health care personnel, based on previous research.

The usual arguments against the VAERS data have been that it’s unverified and unreliable. Some researchers have pointed out, however, that the system isn’t meant to provide definitive answers, but rather early warnings. In their view, the reports have raised numerous red flags that haven’t been sufficiently investigated.

CDC Data Caveats

The latest detailed cause-of-death data available on the CDC website is for the year 2020. For 2021, CDC has been releasing some preliminary data bi-weekly, but cautions that it has a lag of 8 weeks or more as the death certificate data streams in from around the country. For this analysis, only data up until October has been used. For specific causes of death beyond COVID-19, pneumonia, and influenza, the CDC doesn’t break down the available 2021 data by age, limiting its usefulness for this analysis.

In addition, CDC’s COVID-19 mortality data that covers 2021 attributes to the virus all deaths where COVID-19 was marked on the death certificate, regardless whether it was listed as the underlying cause or as a contributing factor. Early in the pandemic, the CDC instructed medical practitioners to mark all deceased who had tested positive, and even those with COVID-like symptoms but who had not been tested, as deaths caused by COVID-19. Later in 2020, the guidance gradually changed. Untested cases were to be separated and COVID-19 was required to be at least a contributing factor to be listed on the death certificate.

In the second half of 2020, the last period with available death certificate data on this point, nearly 90 percent of deaths involving COVID-19 had the disease listed as the underlying cause of death rather than a contributing factor.

Some experts have also pointed to government policies as a possible culprit in some excess deaths. School closures and business lockdowns have led to both financial and psychological depression, some research and anecdotal reports indicate, which may have led to death in some cases. Suicide deaths, though, have been relatively stable between 2019 and June 2021, based on available data.

Death After COVID

There may be a more hidden health impact of COVID-19. A study published in December found that people hospitalized for COVID-19 had somewhere between two and three times the risk of dying in the following 12 months of something other than COVID-19 than those going to a doctor, but testing negative.

“This huge explosion of inflammation during a severe episode of COVID seems to be causing a lot of other problems,” said Arch Mainous, the lead author of the study and a vice chair for research in the Department of Community Health and Family Medicine at the University of Florida.

“It looks like there is an overall impact on your body from this biological insult,” he told The Epoch Times.

The study has several limitations. It included people only from one hospital system in Florida and as such may not fully apply to the entire U.S. population. Also, it controlled for comorbidities, but used the Charlson Comorbidity Index (CCI), which only includes 17 general factors that aren’t specific to COVID-19. It includes age as well as issues such as history of heart attack, stroke, cancer, AIDS, cirrhosis, kidney disease, and diabetes. Mainous acknowledged that the index may be less predictive in younger patients.

Finally, the studied population as a whole had on average a particularly high risk of dying. Of the more than 13,600 people included, over 2,600 died within a year—nearly 20 percent. For comparison, Americans of age 85 or higher have about 10 percent annual mortality.

end

Boston Man Kicked Off Heart Transplant List For Not Being Vaccinated

WEDNESDAY, JAN 26, 2022 – 03:39 PM

Authored by Steve Watson via Summit News,

A Boston man has been shunted from the top of a heart transplant list with doctors saying that it is because he refused to take the COVID vaccine, and thus has less chance of survival.

CBS Boston reports that DJ Furguson was on the waiting list to receive a heart at Brigham and Women’s Hospital in Boston, but has since been taken off it.

https://w3.mp.lura.live/player/prod/v3/anvload.html?key=eyJtIjoiY2JzIiwidiI6IjYxOTAzMDUiLCJhbnZhY2siOiJFWnF2UnlLRTdxbXFEZmxEUFhJdzZVN2tLWkVBMFZ4NyIsInNoYXJlTGluayI6Imh0dHBzOi8vY2JzbG9jLmFsLzNmV2ljWUciLCJwbHVnaW5zIjp7ImNvbXNjb3JlIjp7ImNsaWVudElkIjoiMzAwMDAyMyIsImMzIjoiQm9zdG9uLmNic2xvY2FsLmNvbSJ9LCJkZnAiOnsiY2xpZW50U2lkZSI6eyJhZFRhZ1VybCI6Imh0dHA6Ly9wdWJhZHMuZy5kb3VibGVjbGljay5uZXQvZ2FtcGFkL2Fkcz9zej0yeDImaXU9LzQxMjgvQ0JTLkJPU1RPTiZjaXVfc3pzJmltcGw9cyZnZGZwX3JlcT0xJmVudj12cCZvdXRwdXQ9eG1sX3Zhc3QyJnVudmlld2VkX3Bvc2l0aW9uX3N0YXJ0PTEmdXJsPVtyZWZlcnJlcl91cmxdJmRlc2NyaXB0aW9uX3VybD1bZGVzY3JpcHRpb25fdXJsXSZjb3JyZWxhdG9yPVt0aW1lc3RhbXBdIiwia2V5VmFsdWVzIjp7ImNhdGVnb3JpZXMiOiJbW0NBVEVHT1JJRVNdXSIsInByb2dyYW0iOiJbW1BST0dSQU1fTkFNRV1dIiwic2l0ZVNlY3Rpb24iOiJmZWF0dXJlZCJ9fX0sIm1vYXQiOnsiY2xpZW50U2lkZSI6eyJwYXJ0bmVyQ29kZSI6ImNic2xvY2FsYW52YXRvdmlkZW8xODE3MzI2MDk0MzEifX0sImhlYXJ0YmVhdEJldGEiOnsiYWNjb3VudCI6ImNic2xvY2FsLWdsb2JhbC11bmlmaWVkIiwicHVibGlzaGVySWQiOiJjYnNsb2NhbCIsImpvYklkIjoic2NfdmEiLCJtYXJrZXRpbmdDbG91ZElkIjoiODIzQkEwMzM1NTY3NDk3RjdGMDAwMTAxQEFkb2JlT3JnIiwidHJhY2tpbmdTZXJ2ZXIiOiJjYnNkaWdpdGFsbWVkaWEuaGIub210cmRjLm5ldCIsImN1c3RvbVRyYWNraW5nU2VydmVyIjoiY2JzZGlnaXRhbG1lZGlhLmQxLnNjLm9tdHJkYy5uZXQiLCJjaGFwdGVyVHJhY2tpbmciOmZhbHNlLCJ2ZXJzaW9uIjoiMS41IiwiY3VzdG9tTWV0YWRhdGEiOnsidmlkZW8iOnsiY2JzX21hcmtldCI6ImJvc3Rvbi5jYnNsb2NhbC5jb20iLCJjYnNfcGxhdGZvcm0iOiJkZXNrdG9wIn19LCJwcm9maWxlIjoiY2JzIiwiY3VzdG9tVHJhY2tpbmdTZXJ2ZXJTZWN1cmUiOiJjYnNkaWdpdGFsbWVkaWEuZDEuc2Mub210cmRjLm5ldCJ9fSwiaHRtbDUiOnRydWUsInRva2VuIjoiZGVmYXVsdCJ9

Furguson’s father told reporters that the COVID vaccine is “kind of against his basic principles, he doesn’t believe in it. It’s a policy they are enforcing and so because he won’t get the shot, they took him off the list of a heart transplant.”

“My son has gone to the edge of death to stick to his guns and he’s been pushed to the limit,” Mr Furguson added.

“We are aggressively pursuing all options, but we are running out of time,” he continued, adding “I think my boy is fighting pretty damn courageously and he has integrity and principles he really believes in and that makes me respect him all the more.”

“It’s his body. It’s his choice,” Mr Furguson asserted.https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&frame=false&hideCard=false&hideThread=false&id=1486056518545985537&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fmedical%2Fboston-man-kicked-heart-transplant-list-not-being-vaccinated&sessionId=b015145597087c614b42654764f37e605f08c893&siteScreenName=zerohedge&theme=light&widgetsVersion=75b3351%3A1642573356397&width=550px

A hospital spokesperson told The New York Post “We do everything we can to ensure that a patient who receives a transplanted organ has the greatest chance of survival,” adding “Our Mass General Brigham healthcare system requires several CDC-recommended vaccines, including the COVID-19 vaccine, and lifestyle behaviors for transplant candidates to create both the best chance for a successful operation and to optimize the patient’s survival after transplantation, given that their immune system is drastically suppressed.”

“Patients are not active on the waitlist without this,” the spokesperson added.

A GoFundMe campaign has been setup for Furguson and has so far pulled in over $42,000 at time of writing.

DJ’s wife Amanda posted an update, noting that her husband “went through all the testing to be put on the transplant list and passed with flying colors since he’s young and healthy aside from the heart failure. With that being said he was accepted to be a candidate for heart transplant.”

She continues, “The vaccine typically causes swelling in the heart (usually temporary for most people no big deal right?) But in DJs case he can NOT afford for his heart to swell any more than it already is right now. He is at extremely high risk of sudden death if it does. We have had many conversations with the doctors, who confirmed that his heart COULD swell and go into severe crisis but they can’t guarantee anything and it’s a choice we will have to make if he wants to be listed.”

“We are devastated. We can’t even process this,” she continues, adding “I haven’t even found the courage to sit down with my son and explain what is happening to his father. I can not even start to describe the pain we are all going through.”

* * *

Brand new merch now available! Get it at https://www.pjwshop.com/

In the age of mass Silicon Valley censorship It is crucial that we stay in touch. We need you to sign up for our free newsletter here. Support our sponsor – Turbo Force – a supercharged boost of clean energy without the comedown. Also, we urgently need your financial support here.

end

iiiA) important USA economic stories for you tonight

This ought to get Governor Abbot furious!

(zerohedge)

Watch: Mass Release Of ‘Single Adult Migrants’ Into Small Texas Town

TUESDAY, JAN 25, 2022 – 10:15 PM

A massive group of single adult illegal immigrants – most of whom were men – were caught on video by Fox News being released into a Texas town via a small, unmarked office in a parking lot.

Fox News footage shows several federally contracted buses dropping off dozens of mostly male migrants at a parking garage in Brownsville, Texas. Black tarps were set up with a makeshift sign said “Border Patrol drop-off” above it. –Fox News

Watch:

Fox employees witnessed men enter a small, unmarked office – only to emerge moments later and get into multiple taxi cabs, who were then taken to nearby Harlingen Airport. According to the report “there were no children or migrant families among the groups.”

Several of the migrants told Fox that they had crossed illegally that morning, paying approximately $2,000 per person to cartel smugglers. They also said they were flying to destinations including Miami, Houston and Atlanta.
Single adults are typically being expelled via Trump-era Title 42 public health protections. The Biden administration kept Title 42 in place but is not applying it to unaccompanied children or most migrant families. However, single adults have long been the easiest category of migrant to deport. -Fox News

The Brownsville Office of Emergency Management has been conducting the migrant transfers using FEMA funding in order to facilitate “the transfer of these migrants to their final destination by allowing them to use services to contact their families, NGOs, or a taxicab,” according to the city, which confirmed that the parking garage is serving as a staging area for migrants to obtain travel information to “facilitate their transfer to their final destinations.”

According to Fox, Customs and Border Protection (CBP) says they aren’t involved in the releases, while an Immigration and Customs Enforcement source said they thought it was an ICE release.

end

A good one: what Republicans must stand for in 2022 and beyond

(Victor Davis Hanson)

Victor Davis Hanson: What Are Republicans “For” In 2022?

TUESDAY, JAN 25, 2022 – 11:55 PM

Authored by Victor Davis Hanson,

Can Republicans move beyond just completing the original, necessary Trump agenda on closing the border, legal-only immigration, deterrence against China, energy production, immunity from optional military engagements in the Middle East, industrial and manufacturing resurgence in the Rust Belt and conservative judicial appointments?

What would such a new Contract with America entail, if it were indeed wise before the midterms to advertise such a confident Newt Gingrich-like strategy for regaining the House? And should a menu be more rather than less detailed? What about the follow-up for a later Republican presidency?

Here are the Ten Commandments worth running on, some new, some old. Not all are official policy positions. Some are recommendations for action even when the federal government is not directly involved.

1) A Safe and Law-Abiding America. Crime prevention and punishment is mostly a local and state affair. But the federal government promises to prosecute fully any criminal who crosses state lines or uses interstate communications to commit arson, public destruction, smash-and-grab looting or general attacks on any federal property within the states.
2) Affordable Energy for an Energy-Independent America. Restoration of gas and oil energy independence; reopening of federal lands for new energy leases; fast-tracking natural gas and oil pipelines; encouragement and incentives to mine rare and precious metals inside the United States needed for batteries and new sources of energy.
3) A Secure Border. Immediate completion of the border wall. Deportation of all those who crossed illegally between 2017 and 2024 and all criminals convicted of felonies or serious misdemeanors; employer sanctions; an end to catch-and-release; all refugee seekers apply outside the United States; a tax on remittances sent south of the border on those here illegally and on public assistance; the end of the primacy of family considerations in fast-tracking immigration requests, replaced by meritocratic considerations of English facility, skill sets and education. All immigration would be predicated on legality, diversity, meritocracy and measured and manageable numbers necessary for assimilation and integration.
4) A Sacrosanct Constitution and Preservation of Long-Held Traditions. On record for no changes to the Constitution; no dismantling of the Electoral College; no federalization of states’ voting laws; no increase in a nine-justice Supreme Court; no statehood for Washington, DC, and Puerto Rico; no end to the Senate filibuster.
5) The Restoration of Election Day. Encouragement to the states to limit mail-in balloting, return to the old notion of absentee balloting as an exception rather than the norm and cut back on extended/early balloting — with the goal that 60 to 70% of ballots cast are done so on Election Day.
6) A “Don’t Tread on Me” Foreign Policy. Strong support for the sanctity of allied nations. Deterrence against Russia, China, Iran, North Korea and other belligerents. A realist foreign policy of “No better friend, no worse enemy.” An end to optional large, on-the-ground military engagements in the Middle East. A return of Pentagon emphasis on battle readiness rather than social justice and woke agendas, with budgets redirected to missile defense and naval and air deterrence.
7) Towards a Balanced Budget. Expenditures must match revenues. An update of the Simpson-Bowles National Commission on Fiscal Responsibility and Reform or enactment of its recommendations, with the aim of achieving a balanced budget in four years.
8) Anti-Trust, Anti-Monopoly Legislation. An end to Silicon Valley’s vast monopolies, cartels and immunity from public-utility regulations.
9) Strict Enforcement of the Civil Rights Act of 1964. Prohibition of the use of racial bias/advantage/preference in the operations of public local, state and federal agencies. No federal funds allotted for critical-race-theory indoctrination.
10) No Federal Funds for Lawbreakers. An end to federal support of state agencies and private institutions that violate federal statutes and the Bill of Rights, whether sanctuary-city jurisdictions or campuses whose speech and trial codes violate the First, Fourth, Fifth and Sixth Amendments. Loss of tax-free status on income from university endowments of more than $10 billion.

Lots more might be included in any such agenda (e.g., moving agencies like the FBI out of Washington), but God limited his commandments to 10, and humble Republicans should keep that consideration in mind.

END

Biden’s numbers continue to plummet!

(zerohedge)

Is Ukraine A Distraction From Biden’s Terrible Approval Rating?

TUESDAY, JAN 25, 2022 – 11:35 PM

As President Biden ‘celebrated’ the ‘most successful first year of a presidency ever’ last week, his approval rating hit a new low (worse than it was in November amid the Kabul crisis)…

Voters have signaled their unhappiness with Biden as his agenda has shifted far from the ‘moderate’ he projected during the campaign – but has still disappointed every ‘identity’ in his party due to the lack of legislation. Furthermore, Americans see inflation is at a forty-year high, the economy is faltering, the COVID-19 pandemic is never-ending (more deaths under Biden than Trump), among numerous other things.

All of which has sent the probabilities of Democrats losing the midterms later this year soaring.

New polls released this week show that a majority, 56%, of Americans disapprove of the president’s job, with only 26% of Americans believing things in the country are going well.

So, is it any wonder that the Biden administration is desperately seeking a distraction from the domestic chaos… and what better and more time-test strategy than to start a land-war in Eurasia.

For months, Russia has amassed forces near Ukraine. Now, all of a sudden, Western corporate media and the White House have been using the threat of war to crowd out news headlines of inflation, bare shelves at supermarkets, supply chain woes, and rising violent crime.

And while correlation is not causation, one can’t help but notice in the chart below how as the president becomes more unpopular, the headlines about Ukraine grow larger and larger.

The Federalist’s co-founder, Sean Davis, sums things up perfectly:

Jordan Boyd at The Federalist notes that as early as the 1800s, those in power used their authority to start conflicts with foreign powers to manipulate public opinion.

French Emperor Louis Napoleon was suspected of pandering to French Catholics and trying to boost his country’s crumbling reputation when he entered the Crimean War in 1854.
Napoleon, experts say, wanted to lord France’s power over Russian Orthodox Christians to keep Frenchmen’s minds off of problems at home.
A more recent example of this distraction came in 1998 when President Bill Clinton suddenly decided, just days after he confessed to having sexual relations with White House intern Monica Lewinsky, to bomb potential terrorists in Afghanistan and Sudan.

Let’s hope the maniacs in the White House aren’t serious about actually engaging in a kinetic war this time… to boost Biden’s dismal approval rating.

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

END

iv)swamp stories

Watch: Nugget Of Truth Emerges On CNN As Guest Rips Biden Apart

TUESDAY, JAN 25, 2022 – 08:35 PM

Authored by Steve Watson via Summit News,

In between rearranging its programming to account for sacked presenters and accused pedophile producers, CNN found itself in a bind when a guest uttered a few words of truth by completely slamming the Biden administration.

Host Anderson Cooper was lost for words as Scott Jennings, former Special Asst. to President George W. Bush, tore into the “disaster” that is the Biden regime.

“I think he has a lot of political problems,” Jennings noted, adding “and an AP poll came out this morning, only 28 percent of Americans want the sitting president to run for re-election. And fewer than half of Democrats.”

“This is a disaster,” Jennings continued, also noting:
“I never imagined how quickly this would all unfold.”

“The person they sold on the campaign,” Jennings went on “The nice old moderate Grandpa who just wanted to help everybody get along and compromise is not what we got over the past year.”

“He has no mandate, really, to do much of anything,” he added, urging “It’s amazing that he got a couple of things done when the mandate was pretty clear: 50/50 Senate and near 50/50 House, and a pretty close presidential election.”

“The mandate was simply ‘replace Donald Trump and don’t do anything drastic or stupid,” Jennings said, adding:
“And yet everything about this agenda is extremely drastic. And he’s been angrier than I think people expected, he’s been more divisive, he’s been more partisan.”

“You look at the issues. We built five years of coverage on Trump out of Russia, COVID, and democracy,” Jennings asserted, adding:

“The president, in his press conference, invites Russia to invade the Ukraine. We have more [COVID] deaths under Biden than Trump. And now we have the president and the vice president question the legitimacy of the 2022 election? Are we any better off on these issues that we crucified Trump over?”

Of course, no one saw this because CNN has lost 90% of its viewers and is more concerned with sending the likes of Brian Stelter into schools to man spread and blather about ‘misinformation’ in front of masked kids.

https://www.zerohedge.com/political/watch-nugget-truth-emerges-cnn-guest-rips-biden-apart

END

KING REPORT/SWAMP STORIES

Surging inflation takes hold in Mountain States, with rates near 9% https://t.co/lbrBYF1F61

Boris Johnson warns Putin invading Ukraine would spark worst bloodshed since WW2 and many Russians ‘won’t come home’ – The Sun

@JackPosobiec: Scandal-tainted Boris Johnson is of course getting in on the Wag the Dog act to distract from his imminent vote of no confidence

@zerohedge: Russia CDS [Chart showing surge] https://t.co/KKDvWYeSAo

Witness at scene of CDC lab monkeys crash has developed symptoms
Fallon developed a cough and something that resembled “pink-eye.” And, by Sunday, she was visiting the Geisinger Medical Center emergency room, where infectious disease doctors were consulted…
Many questions remain unanswered for Fallon, like what are these monkeys possibly infected with? Why wasn’t the vehicle marked indicating it was carrying potentially bio-hazardous contents? Why were the three monkeys that fled instantly euthanized and not captured? What did the CDC tell her doctor to test for? Nothing forewarned Fallon that she was putting her health at risk. It was only after her risky encounter, when a CDC representative who appeared on the scene, advised her to watch for symptoms and to alert her primary care doctor…
https://hbg100.com/2022/01/24/witness-at-scene-of-cdc-lab-monkeys-crash-has-developed-symptoms/

After the close MSFT reported: Q2 EPS $2.48 ($2.31 exp.); Q2 Rev. $51.73B ($50.88B exp.). Microsoft tumbled as much as 5% in after-hour trading reportedly because its cloud growth slowed.

‘GOP lawmaker slams president after three of his team negotiating with Iran on nuclear deal RESIGN because US is being too soft and calls for him to revert to Trump’s ‘maximum pressure’ policy https://www.dailymail.co.uk/news/article-10439847/Three-Bidens-Iran-negotiating-team-RESIGN-not-tough-nuke-deal.html

Biden Filled His Empty Tuesday Schedule with an Ice Cream Run (Despite all the urgent woes!)
Jen Psaki struggles to explain why Biden’s schedule is so empty today…around 1:41 p.m. President Joe Biden was on the move to a boutique on Capitol Hill…Around 3 p.m. Biden returned to the Oval Office. A lid on the day was called at 3:05 pm…
https://townhall.com/tipsheet/katiepavlich/2022/01/25/biden-filled-his-empty-tuesday-schedule-with-an-ice-cream-run-n2602343

We are old enough to remember how ‘W’ Bush sappily vouched for Putin’s integrity and honesty.

George W. Bush, June 16, 2001: “President Putin and I have just concluded two hours of straightforward and productive meetings… He’s an honest, straightforward man who loves his country. He loves his family. We share a lot of values…I looked the man in the eye. I found him to be very straightforward and trustworthy. We had a very good dialogue. I was able to get a sense of his soul; a man deeply committed to his country and the best interests of his country. And I appreciated so very much the frank dialogue… I wouldn’t have invited him to my ranch if I didn’t trust him…
https://georgewbush-whitehouse.archives.gov/news/releases/2001/06/20010618.html

Rep. Jim Cooper (D-TN) announced he won’t run for reelection. He is the 29^th House Democrat to retire.

@Breaking911: NBC’s Kelly O’Donnell on Biden calling reporter a ‘stupid son of a bitch’: “He does not like when questions are asked about a subject other than the planned event.”

@JackPosobiec: There were mass protests in Kiev today at the Ukrainian Parliament over a new tax law. Demonstrators clashed with police. Western media didn’t even cover it…Officers injured…
https://twitter.com/UKRINFORM/status/1485987236428591105

@Techno_Fog: New Durham revelations: DNC/Hillary lawyer Marc Elias testified before a grand jury.
He has obtained more records from Perkins Coie, the Clinton Campaign, and Fusion GPS. This includes 396 e-mails between the FBI and Perkins Coie from 2016-2017… “All this leads us to believe that Durham is focused on something more substantial than the false Alfa Bank allegations…consider the possibility that evidence of “Russian hacking” was placed by the DNC, Perkins Coie, et al. for Crowdstrike to conveniently “find.””  https://technofog.substack.com/p/durham-dnc-lawyer-marc-elias-has

Left-leaning Politico: Schumer strategy leaves some Dems seething
Schumer’s ploy to isolate Sens. JOE MANCHIN (D-W.Va.) and KYRSTEN SINEMA (D-Ariz.) on Build Back Better and then voting rights has only set the party back in achieving its goals…
    All were particularly stunned by Schumer’s refusal last week to say that Manchin and Sinema should not be primaried… effectively gave progressives permission to start talking about mounting Democratic campaigns to defeat them…
    Schumer’s willingness to hold floor votes that he knew would fail — exposing party divisions — as he did last week during the debate on voting rights and the filibuster. The strategy resulted in a slew of negative headlines reminding the base that the party hasn’t delivered on a core promise…
    “It’s seemed clear for a while that the strategy Schumer is running has to do more with his fear of getting primaried than it did with actually achieving anything with the caucus he has or with protecting or expanding the majority,” said one senior Senate Democratic aide…
https://www.politico.com/newsletters/playbook/2022/01/25/schumer-strategy-leaves-some-dems-seething-00001704

Courage is knowing what not to fear.” — Plato

end

Well that is all for today, I will see you tomorrow night

Milan Sabioncello	Tue, Jan 25, 10:34 PM (1 hour ago)
to me

Robert Hryniak	1:22 PM (8 minutes ago)
to

JAN 26//

DONATE

NUMBER OF NOTICES FILED TODAY FOR JAN. CONTRACT: 0 NOTICE(S) FOR nil OZ (0.00000 TONNES)

total notices so far: 5651 contracts for 565,100 oz (17.577 tonnes)

80 NOTICE(S) FILED TODAY FOR 400,000 OZ/

1/COMEX GOLD AND SILVER REPORT

3. ASIAN AFFAIRS

b) REPORT ON JAPAN

3 C CHINA

4/EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

6.Global Issues

7. OIL ISSUES

8 EMERGING MARKET ISSUES

Mainstream Suddenly Realizes Raising Interest Rates In A World Buried In Debt Might Be A Problem

Silver is on the launchpad, GATA’s Steer tells Wall Street Silver

Pam and Russ Martens: Federal agency hides bank identities in study of dangerous derivatives

Craig Hemke: The strange correlation of Comex silver and GDX

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

Futures Surge After Microsoft Reversal With All Eyes On Fed

3 a./NORTH KOREA/ SOUTH KOREA

3c CHINA

4/EUROPEAN AFFAIRS

WHO Suggests Europe Will Experience “Quiet” COVID-19 Period After Current Cases Subside

Welsh Businesses Demand Vaccine Passport Exemptions After Government Fails To Prove They Work

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

Russia-Ukraine Crisis Deescalating As NATO Countries Break From Bellicose US-UK Stance

Russia Stages Snap War Drills Near Ukraine As NATO Backs Off Military ‘Option’

Watch: Ukrainians Attempt To Storm Parliament Building

US Citizens Told Depart Ukraine Now By Any Means Possible In New Embassy Alert

No SWIFT, No Gas: Russia Responds To Western Threats As US Tries To Orchestrate Workaround

US Delivers Written Response To Russia’s Security Concerns: NATO’s Door Open To Ukraine

6// GLOBAL COVID ISSUES/VACCINE MANDATE ISSUES/

Pfizer Begins Human Trials For New Omicron Vaccine As US Cases Tumble

Act of terrorism

We Drive – YouTube

Triple Vaccinated are developing Acquired Immunodeficiency Syndrome at an alarming rate according to Government data

ICU in Israel vs other countries

Vaccine Impact

Rabobank: IF There Is A Fed Club, Why Can’t They Raise Rates AND Pump Markets?

7. OIL ISSUES

8 EMERGING MARKET& AUSTRALIA ISSUES

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

Stocks & Bonds Puke As Powell Hints At “Sooner, Faster” QT

Fed Warns “Soon To Be Appropriate” To Raise Rates, QE Ends In March

So what did The Fed say/do…

US New Home Sales Explode Higher In December, Ahead Of Mortgage-Rate Rip

Insurance Companies Note Jump In Death Payouts Amid 40% Rise Among Prime-Age Americans

COVID-19 Impact

Drugs, Alcohol, Murder

Misclassified, Overwhelmed

Vaccines

CDC Data Caveats

Death After COVID

Boston Man Kicked Off Heart Transplant List For Not Being Vaccinated

Watch: Mass Release Of ‘Single Adult Migrants’ Into Small Texas Town

Victor Davis Hanson: What Are Republicans “For” In 2022?

Is Ukraine A Distraction From Biden’s Terrible Approval Rating?

Watch: Nugget Of Truth Emerges On CNN As Guest Rips Biden Apart

Share this:

Related

Leave a comment Cancel reply

Donate

Archive

Spot Gold

Spot Silver