FEB 4

FEB4

 · by harveyorgan · in Uncategorized · Leave a comment ·Edit

GOLD; UP $3.40 to $1807.20

SILVER: $22.52  UP 16 CENTS

ACCESS MARKET: GOLD: 1807.80.. 

SILVER: $22.47

Bitcoin:  morning price: 36,813 UP 316

Bitcoin: afternoon price: 40,693 UP 4196

Platinum price: closing down $6.30 to $1028.95

Palladium price; closing down  $34.75  at $2298.75

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:EXCHANGE: COMEX  FILED: 207/545

EXCHANGE: COMEX

CONTRACT: FEBRUARY 2022 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,803.000000000 USD
INTENT DATE: 02/03/2022 DELIVERY DATE: 02/07/2022
FIRM ORG FIRM NAME ISSUED STOPPED

---

118 C MACQUARIE FUT 67
332 H STANDARD CHARTE 14
363 H WELLS FARGO SEC 8
435 H SCOTIA CAPITAL 2
624 C BOFA SECURITIES 543
624 H BOFA SECURITIES 213
657 C MORGAN STANLEY 1
661 C JP MORGAN 114
661 H JP MORGAN 93
709 C BARCLAYS 25
732 C RBC CAP MARKETS 3
800 C MAREX SPEC 2 3
905 C ADM 2

---

TOTAL: 545 545

MONTH TO DATE: 16,243  

NUMBER OF NOTICES FILED TODAY FOR  FEB. CONTRACT: 545 NOTICE(S) FOR 54,500 OZ  (1.6951  TONNES)

total notices so far:  16,243 contracts for 1,624,300 oz (50.522 tonnes)

SILVER NOTICES: 

69 NOTICE(S) FILED TODAY FOR  345,000   OZ/

total number of notices filed so far this month  1208  :  for 6,040,000  oz

GLD

WITH GOLD UP $3.40

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

A HUGE CHANGE IN GOLD INVENTORY AT THE GLD//A WITHDRAWAL OF 1.75 TONNES FROM 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: 1014.84 TONNES/

Silver//SLV

WITH NO SILVER AROUND AND SILVER UP 16 CENTS:/: NO CHANGES IN SILVER INVENTORY AT THE SLV/

AT THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

CLOSING INVENTORY SLV/ TONIGHT: 539.212 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A STRONG 2066 CONTRACTS TO 149,733  AND RESTS FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020 AND DESPITE  THIS STRONG GAIN IN OI, IT WAS ACCOMPANIED WITH OUR STRONG $0.35 LOSS IN SILVER PRICING AT THE COMEX ON THURSDAY.  OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.35) BUT WERE  UNSUCCESSFUL IN KNOCKING OUT ANY SILVER LONGS  AS WE HAD A VERY STRONG GAIN OF 2916 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  GOOD ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A HUGE INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 4.110 MILLION OZ FOLLOWED BY TODAY’S 275,000 OZ QUEUE JUMP//NEW STANDING 6.145 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  -107

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

TOTAL CONTACTS for 4 days, total  contracts: :  2533 contracts or 12.665 million oz  OR 3.166 MILLION OZ PER DAY. (633 CONTRACTS PER DAY)

TOTAL NO OF OZ UNDERGOING EFP TO LONDON 2533 CONTRACTS X 5,000 PER CONTRACT:

EQUATES TO: 12.665 MILLION OZ

.

LAST 10 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 

JAN 2022//  90.460 MILLION OZ

FEB 2022:  12.665 MILLION OZ//

SPREADING OPERATIONS

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

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

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 (MAR), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY.  THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END  OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

RESULT: WE HAD A STRONG SIZED inCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2066 DESPITE OUR  $0.35 loss SILVER PRICING AT THE COMEX// THURSDAY  THE CME NOTIFIED US THAT WE HAD A  STRONG  SIZED EFP ISSUANCE OF  850 CONTRACTS( 850 CONTRACTS ISSUED FOR MAR AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS    THE DOMINANT FEATURE TODAY: /HUGE BANKER SHORT COVERING AS THEY GET OUT OF DODGE//// WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR FEB OF 4.1 MILLION OZ FOLLOWED BY TODAY’S 275,000 OZ QUEUE JUMP  //NEW STANDING 6.145, MILLION OZ//  .. WE HAD A STRONG SIZED GAIN OF 2963 OI CONTRACTS ON THE TWO EXCHANGES FOR 14.815 MILLION OZ//

 WE HAD 69 NOTICES FILED TODAY FOR  345,000 OZ

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 2360 TO 510,080 AND FURTHER FROM  OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: — 91 CONTRACTS

.

THE  FAIR SIZED DECREASE IN COMEX OI CAME WITH OUR  LOSS IN PRICE OF $5.55//COMEX GOLD TRADING/THURSDAY/.AS IN SILVER WE MUST  HAD   HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR FAIR SIZED EXCHANGE FOR PHYSICAL ISSUANCE. WE HAD SOME LONG LIQUIDATION  AS THE TOTAL GAIN ON OUR TWO EXCHANGES TOTALED  65 CONTRACTS…

WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR FEB AT 64.3 TONNES FOLLOWED BY TODAY’S 5700 OZ E.F.P. JUMP TO LONDON  //NEW STANDING: 59.334 TONNES      

YET ALL OF..THIS HAPPENED WITH OUR LOSS IN PRICE OF $5.55 WITH RESPECT TO THURSDAY’S TRADING

WE HAD A SMALL SIZED GAIN OF 65  OI CONTRACTS (0.202 PAPER TONNES) ON OUR TWO EXCHANGES

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALLED A FAIR SIZED  2475 CONTRACTS:

FOR APRIL 2475  ALL OTHER MONTHS ZERO//TOTAL:2475 

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 510,080.

IN ESSENCE WE HAVE A SMALL SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 65, WITH 2,360 CONTRACTS DECREASED AT THE COMEX AND 2475 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 65 CONTRACTS OR 0.202TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2475) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI (2360,): TOTAL GAIN IN THE TWO EXCHANGES 65 CONTRACTS. WE NO DOUBT HAD 1) HUGE BANKER SHORT COVERING ,2.) HUGE INITIAL STANDING AT THE GOLD COMEX FOR FEB. AT 64.30 TONNES WHICH FOLLOWS TODAY’S  EFP JUMP TO LONDON OF 5700 OZ//NEW STANDING 59.334 TONNES//  3)ZERO LONG LIQUIDATION ,4)   FAIR SIZED COMEX OI. LOSS 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2022 INCLUDING TODAY

FEB

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEB :

6344 CONTRACTS OR 634,400 oz OR 19.73  TONNES 4 TRADING DAY(S) AND THUS AVERAGING: 1586 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 4 TRADING DAY(S) IN  TONNES: 19.93 TONNES

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

THUS EFP TRANSFERS REPRESENTS  19.73/3550 x 100% TONNES  0.556% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2022 

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// 

JAN:2022   247.25 TONNES //FINAL

FEB:           19.73 TONNES//INITIAL

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 STRONG SIZED 2066 CONTRACTS TO 149,733  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 850 CONTRACTS

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

MAR 850  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  850 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 2066 CONTRACTS AND ADD TO THE 850 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A VERY STRONG SIZED GAIN OF 2916 OPEN INTEREST CONTRACT FROM OUR TWO EXCHANGES.

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 14.560 MILLION  OZ, 

OCCURRED WITH OUR $0.35 LOSS IN PRICE.

OUTLINE FOR TODAY’S COMMENTARY

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

2 ) Gold/silver trading overnight Europe,

(Peter Schiff,

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

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

5. Other gold commentaries

6. Commodity commentaries/cryptocurrencies

3. ASIAN AFFAIRS

i)FRIDAY MORNING// THURSDAY  NIGHT

SHANGHAI CLOSED       //Hang Sang CLOSED UP 771.03 PTS OR 3.24%  /The Nikkei closed  UP 198.68 PTS OR 0.73%      //Australia’s all ordinaires CLOSED UP 0.60%  /Chinese yuan (ONSHORE) closed HOLIDAY    /Oil UP TO 92.16 dollars per barrel for WTI and DOWN TO 92.74 for Brent. Stocks in Europe OPENED  ALL RED       //  ONSHORE YUAN CLOSED XX  AGAINST THE DOLLAR AT XXX. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3588: /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 FELL BY A FAIR SIZED 2360 CONTRACTS  AND FURTHER FROM THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020). AND THIS  COMEX DECREASE OCCURRED WITH OUR LOSS OF $5.55 IN GOLD PRICING THURSDAY’S COMEX TRADING. WE ALSO HAD A FAIR SIZED EFP (2475 CONTRACTS). . THEY WERE PAID HANDSOMELY  NOT TO TAKE DELIVERY AT THE COMEX AND SETTLE FOR CASH. 

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   ACTIVE DELIVERY MONTH OF FEB..  THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS 2475 EFP CONTRACTS WERE ISSUED:  ;: ,   & FEB. 0 APRIL: 2475 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  2475 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 SMALL SIZED 65 TOTAL CONTRACTS IN THAT 2475 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A FAIR SIZED  COMEX OI LOSS OF 2360  CONTRACTS..

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR FEB   (59.318),

 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

FEB 2022: 59.318 TONNES

THE BANKERS WERE  SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $5.55) BUT THEY WERE  UNSUCCESSFUL IN FLEECING ANY LONGS AS WE HAVE  REGISTERED A  GAIN OF 0.6407 TONNES OF TOTAL OI, ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR FEB (59.318 TONNES)…

WE HAD  –91 CONTRACTS REMOVED FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES 65 CONTRACTS OR 6500 OZ OR 0.202 TONNES

Estimated gold volume today: 182,636 /// poor

Confirmed volume yesterday: 180,150contracts  poor 

INITIAL STANDINGS FOR FEB ’22 COMEX GOLD //FEB 4

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil oz
Withdrawals from Customer Inventory in oz	8423.562 oz Manfra Brinks 250 kilobars Brinks12 kilobars Manfra
Deposit to the Dealer Inventory in oz	nilOZ
Deposits to the Customer Inventory, in oz	nil
No of oz served (contracts) today	545  notice(s) 54500 OZ 1.6951 TONNES
No of oz to be served (notices)	2828 contracts  282,800 oz 8.796 TONNES
Total monthly oz gold served (contracts) so far this month	16,243 notices 1,624,300 OZ 50.522 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

2 customer withdrawals

i) Out of Brinks:  8037.75 oz 250 kilobars

ii) Out of Manfra: 385.812 oz 12 kilobars

total withdrawals:  8423.562   oz  262 kilobars

ADJUSTMENTS: 1//dealer to customer

i) Out of JPMorgan:  6729.948 oz

2/ customer to dealer: Brinks   192.910 oz  6 kilobars.

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JANUARY.

For the front month of FEBRUARY we have an oi of 3373 stand for  LOSING 531 contracts. 

We had 469 contracts served upon yesterday, so we lost 62 contracts or an additional 6200 oz will not stand on this side of the pond and

these guys were E.F.P.’d to London where they received a handsome bonus for their effort. Looks like no gold to be found over here.

The month of March saw a loss of 128 contracts and thus the OI standing is 5284.

April saw a loss of 3054 contracts up to 393,477.

We had 545 notice(s) filed today for 54500  oz FOR THE FEB 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 545  contract(s) of which 114  notices were stopped (received) by j.P. Morgan dealer and 93 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 FEB /2021. contract month, 

we take the total number of notices filed so far for the month (16,243) x 100 oz , to which we add the difference between the open interest for the front month of  (FEB: 3373 CONTRACTS ) minus the number of notices served upon today  545 x 100 oz per contract equals 1,907,100 OZ  OR 59.318 TONNES the number of TONNES standing in this  active month of FEB. 

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

No of notices filed so far (16,243) x 100 oz+   (3373)  OI for the front month minus the number of notices served upon today (545} x 100 oz} which equals 1,907,100 oz standing OR 59.318 TONNES in this  active delivery month of FEB.

We lost 57 contracts or an additional 5700 oz will not stand over here and were EFP’d. to London 

TOTAL COMEX GOLD STANDING:  59.318 TONNES  (HUGE FOR A FEBRUARY 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:  1,553,863.297 oz                                     48.331 tonnes

TOTAL REGISTERED AND ELIZ GOLD AT THE COMEX: 32,751,574.917  OZ (1018.71 TONNES)

TOTAL ELIGIBLE GOLD: 15,435,400.331 OZ (480.10 tonnes)

TOTAL OF ALL REGISTERED GOLD: 17,316,174.586 OZ  (538.60 tonnes)

REGISTERED GOLD THAT CAN BE SERVED UPON: 15,762,311.0 OZ (REG GOLD- PLEDGED GOLD)  490.27 tonnes

END

FEBRUARY 2022 CONTRACT MONTH//SILVER

INITIAL STANDING FOR SILVER//FEB 4

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	173,651.57  oz Brinks CNT
Deposits to the Dealer Inventory	nilOZ
Deposits to the Customer Inventory	597,198.120 oz CNT Delaware
No of oz served today (contracts)	69CONTRACT(S) 345,000  OZ)
No of oz to be served (notices)	21 contracts  (105,000 oz)
Total monthly oz silver served (contracts)	1208 contracts  6,040,000 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 2 deposits

i) Into CNT:  587,264.520 oz

ii) Into Delaware: 9933.600 oz

total deposit:  597,198.120 oz

JPMorgan has a total silver weight: 184.649 million oz/352.225 million =52.42% of comex 

ii) Comex withdrawals: 3

 a)Brinks:  86,56,500 oz

b) CNT;  163,907.170 oz

c HSBC: 1087.900 oz

total withdrawal 173,651.57  oz

we had 5 adjustments: 4 dealer to customer

Brinks:  161,531.100 oz

ii) Loomis: 126,484.800 oz

iii))JPMorgan: 65,632.500 oz

iv) Manfra 129,489.720 oz

one adjustment customer to dealer; HSBC

i) 5008.75 oz

 oz

the silver comex is in stress!

TOTAL REGISTERED SILVER: 81.342 MILLION OZ

TOTAL REG + ELIG. 352.225 MILLION OZ

CALCULATION OF SILVER OZ STANDING FOR FEBRUARY

silver open interest data:

FRONT MONTH OF FEB//2022 OI: 90 CONTRACTS LOSING  62 contracts on the day. We had  117 contracts served upon yesterday.

So we gained 55 contracts or an additional 275,000 oz will stand for silver on this side of the pond.

FOR MARCH WE HAD A loss OF 935 CONTRACTS UP TO 103,276 CONTRACTS.

APRIL HAD A SMALL GAIN OF 30 CONTRACTS UP TO 51

MAY HAD A  GAIN OF 2920 CONTRACTS UP TO 29,809 contracts

 .

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 69 for 345,000 oz

Comex volumes: 51,825// est. volume today//weak

Comex volume: confirmed YESTERDAY: 63,080 contracts (weak)

To calculate the number of silver ounces that will stand for delivery in FEB. we take the total number of notices filed for the month so far at  1203 x 5,000 oz =. 6,040,000 oz 

to which we add the difference between the open interest for the front month of FEB (90) and the number of notices served upon today 69 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the FEB./2021 contract month: 1208 (notices served so far) x 5000 oz + OI for front month of FEB (90)  – number of notices served upon today (69) x 5000 oz of silver standing for the FEB contract month equates 6,145,000 oz. .

We gained 125 CONTRACTS OR 625,000 ADDITIONAL oz of silver will stand at the comex.

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

FEB 4/WITH GOLD UP $3.40 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.75 TONNES FROM THE GLD////INVENTORY RESTS AT 1014.84 TONNES

FEB 3/WITH GOLD DOWN $5.55: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD////INVENTORY RESTS AT 1016.59 TONNES

FEB 2/WITH GOLD UP $7.95//A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.78 TONES OF GOLD INTO THE GLD////INVENTORY RESTS AT 1018.04 TONNES

FEB 1/WITH GOLD UP $5.40: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1014.26 TONNES

JAN 31/WITH GOLD UP $10.10//NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1014.26 TONNES

JAN 28/WITH GOLD DOWN $8.30//NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1014.26 TONNES

JAN 27/WITH GOLD DOWN $36.15//ANOTHER HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.16 TONNES INTO THE GLD.//INVENTORY RESTS AT 1014.26 TONNES

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

CLOSING INVENTORY: 1014.84 TONNES

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

SLV

FEB 4/WITH SILVER UP 16 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 539.212 MILION OZ

FEB 3/WITH SILVER DOWN 35 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT539.212 MILLION OZ//

FEB 2/WITH SILVER UP 15 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 5.411 MILLION OZ INTO THE SLV.//INVENTORY RESTS AT 539.212 MILLION OZ/

FEB 1/WITH SILVER UP 18 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 533.801 MILLION OZ

JAN 31/WITH SILVER UP 7 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.202 MILLION OZ FORM THE SLV.//INVENTORY RESTS AT 533.801 MILLION OZ//

JAN 28/WITH SILVER DOWN 36 CENTS : NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 535.003 MILLION OZ//

JAN 27/WITH SILVER DOWN $1.13 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 535.003 MILLION OZ//

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//

CLOSING INVENTORY:  539.212 MILLION OZ

PHYSICAL GOLD/SILVER STORIES

1.PETER SCHIFF

end

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

end

end

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

For your interest….

No, the ‘soul’ of money is not trust in central banks

Submitted by admin on Thu, 2022-02-03 15:32Section: Daily Dispatches

3:33p ET Thursday, February 3, 2022

Dear Friend of GATA and Gold:

What is the “soul” of money.

In a speech last month to Goethe University’s Institute for Law and Finance in Frankfurt, Germany, the general manager of the Bank for International Settlements, Agustin Carstens, declared that the “soul” of money is trust in central banks:

https://www.bis.org/speeches/sp220118.htm

You know — the institutions that, often in secret, bestow huge amounts of money on their cronies in politically connected financial institutions, rescuing the rich at the expense of the poor; that intervene secretly to manipulate and destroy markets, picking winners and losers; and that, their executives being unelected, generally subvert democracy.This is especially so with the BIS itself, which every day is the broker for the secret interventions in the gold market of its central bank members. Ask the BIS what it does in the gold market, for whom, and for what purpose and you won’t get any talk about the “soul” of money. You’ll get the door slammed in your face. Ask to attend the meetings of the BIS board as it schemes to control the world’s money and you’ll be told to wait for the press release.

As a practical matter the “soul” of money isn’t trust at all. It is just the power of government to levy and collect taxes that must be paid in the government’s own currency. That is, taxation is the primary source of value for any major currency. If there were no taxes, or if payment of taxes was allowed in something other than a government’s own currency, the currency quickly might lose value amid competition with various forms of money.

Any central bank that wants its money to have a “soul” worth trusting should begin by trusting the people using that money to know everything the central bank is doing — to observe closely all its operations.

Of course there are no such central banks.

That central banks and the BIS itself don’t trust the people they purport to serve signifies that they don’t deserve any trust themselves.

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

END

4.OTHER GOLD/SILVER COMMENTARIES

Despite Being Heavily Out of Favor with Fund Managers, India and China Are Quietly Buying Lots of Gold

 J. Kim – SK Wealth Academy, February 04, 2022

India and China are quietly buying lots of gold

Yes, India and China are quietly buying lots of gold. For those that believe the Western banking narrative that “gold is dead” and that “bitcoin is the new gold”, just look to the behavior of two nations in which 36 out of every 100 citizens of planet Earth reside. Last year, retail consumers in China increased their gold consumption by more than 33% year over year, despite this significant news failing to make the rounds during bitcoin mania that saw two epic collapses from 2021 highs of about $65,000 and $69,000 respectively in April and November before both price highs collapsed by over 50% in relatively quick time. Due to Western banking media focus on cryptocurrencies, especially BTC, specifically designed to divert money away from physical gold purchases, no one reported on the ravenous gold appetites of the two most heavily populated nations in the world.

Unfortunately, the Chinese still don’t fully understand what form of physical gold will be most beneficial to wealth building in the long run, as displayed by their consumption patterns in which gold jewelry consumption jumped yoy by a whopping 711.29 metric tonnes (45%) while gold bars/coins (the better buy) jumped last year by 312.86 metric tonnes (26.87%). Furthermore, conditions are setting up after another year of unimpressive gold price behavior for the price run we’ve all been waiting for, as production output in China in 2021 fell by 10% to 329 tonnes.

Swiss gold exports, 2021

However, as we can see in the Switzerland gold import chart above, China and India once again ramped up their gold imports last year as opposed to England and the US. India increased their imports yoy last year by 359 tonnes to Exports to 507 tonnes, the most since 2015 and more than their average annual imports of 400 tonnes from 2012 to 2019. China increased their Swiss gold imports by 296.5 tonnes yoy to 354 tonnes last year, the highest figure since 2018 though still well under their 600 tonne average import figure from 2012 to 2019 (all figures are combined Hong Kong and mainland China data). However, what should not be ignored in the fog of banking war is that US gold imports from Switzerland in 2020 actually slightly exceeded India gold imports from Switzerland in 2021 (507.5 to 507.2 metric tonnes) despite the US banking cartel publicly denigrating gold every chance they have to do so in the mainstream financial media. That figure clearly demonstrates that the US banking cartel does not think gold is yet “dead” despite their numerous public declarations to this effect. Of the nations in the Americas, only Canada, led by ignorant politicians that have zero understanding of sound money, was dumb enough to dump all their national gold reserves, while the US is still building them as exposed by Swiss gold export data.

However, for the week of 31 January 2022 to 6 February 2022, despite this bullish data from Asia that has been largely undiscussed in the mainstream financial media, I expect gold prices to decline from gold’s current $1800 mark. If you would like to know the reasons I expect a gold price decline, and by what amount, or if topics such as this interest you, then for greater, in-depth analysis, consider joining my patreon platform here.

Finally, let’s take a look at the wholesale gold demand in China as reported by the Shanghai Gold Exchange (SGE). Most wholesale gold imported into China and sold in China happens through the SGE (at least the PBOC states this), so if true, SGE data provides good insight into wholesale gold demand annually. Per data provided by the SGE, in 2021, regarding data for physical gold only, 8,127.9 tonnes of gold were delivered, 13,628.4 tonnes were traded, and 1,745.7 tonnes of gold were withdrawn, as compared to the reported (by the WGC) 2021 world gold production of 3,561 tonnes. Furthermore, compare this to the total COMEX registered and pledged inventory of a mere 19.1 tonnes of gold that backs all gold derivatives trading in New York, and it is easy to understand the fraud that is occurring in NY gold futures markets trading

END

5.OTHER COMMODITIES/COTTON

6.CRYPTOCURRENCIES

Steve Brown..

end

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

ONSHORE YUAN: CLOSED XX

OFFSHORE YUAN: 6.3588

HANG SANG CLOSED UP 771.03 PTS OR 3.24%

2. Nikkei closed UP 198.68 PTS OR 0.73%

3. Europe stocks  ALL RED  

USA dollar INDEX UP TO  96.15/Euro FALLS TO 1.1295-

3b Japan 10 YR bond yield: RISES TO. +.201/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 114.90/ 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:: 92.16 and Brent: 92.74–

3f Gold UP /JAPANESE Yen UP CHINESE YUAN:   ON -SHORE CLOSED XX//  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 +.0.173%/Italian 10 Yr bond yield RISES to 1.69% /SPAIN 10 YR BOND YIELD RISES TO 1.00%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.52: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield RISES TO : 2.24

3k Gold at $1814.55 silver at: 22.60   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble;// Russian rouble UP 12/100 in roubles/dollar AT 76.14

3m oil into the 92 dollar handle for WTI and 92 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 114.90 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 .9224– as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0511 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: 1.820 DOWN 2 BASIS PTS

USA 30 YR BOND YIELD: 2.132 DOWN 3 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 13.55

Futures Reverse Overnight Gains As Amazon Euphoria Fizzles

FRIDAY, FEB 04, 2022 – 08:05 AM

We warned last night that the surge in futures following the huge bounce in Amazon stock wouldn’t last (simply because a closer read of the company’s earnings left a lot to be desired) and sure enough, in the overnight (extremely illiquid) session, 500 futures erased gains of as much as 1.3% to trade 0.1% lower, or 10 points, to 4,460 as European stocks extend their decline as inflation and monetary tightening outweighed earnings optimism.  Meanwhile, Nasdaq 100 futures pared much of their gains, trading just 0.5% higher after earlier rising more than 2%, one day after the index had the worst day since September 2020. The VIX increased for a third day Friday, hovering just below 26.

The dollar dropped as the EUR surge continued, following yesterday’s unexpectedly hawkish comments from Lagarde…

… while oil was on course for a seventh weekly advance with Brent rising

Relief, as brief as it was, was welcome after a 4.2% crash in the Nasdaq 100 Index on Thursday, its biggest since 2020, fueled by a 26% rout in Meta Platforms following disappointing results. The Nasdaq 100 has plunged 11% this year, and the S&P 500 is down 5%, amid normalization of Fed monetary policy and the prospect of rate hikes.

After soaring as much as 18%, Amazon pared its premarket gains to 11%, still implying an increase of $155 billion in its market capitalization if the stock rises by the same extent during regular trading hours. Amazon’s jump was driven by its price hike for Prime and buoyant sales over Black Friday-Cyber Monday. Snap soared as much as 57%, and Pinterest also jumped. Here are some of the biggest U.S. movers today:

• AC Immune (ACIU) shares rose 1% after the company said preclinical data of its amyloid-beta vaccine were published in peer-reviewed journal Brain Communications.
• Activision Blizzard (ATVI) shares are down 1% after the video-game company, which is being acquired by Microsoft, reported fourth-quarter results that missed expectations.
• Amazon.com (AMZN) shares are up 8% after the e-commerce company reported fourth-quarter results that sailed past expectations, lifted by strong results for its cloud-computing business.
• Bill.com (BILL) shares are up more than 8% after the software company reported second-quarter results that beat expectations and raised its full-year outlook. Analysts are extremely positive on the company and its growth potential.
• Estee Lauder (EL) rises 5% after Citi analyst Wendy Nicholson upgraded the stock to a buy from neutral, citing strong growth with more brands, channels and geographies.
• Gitlab Inc. (GTLB) gains 4% after RBC Capital Markets analyst Matthew Hedberg raised his recommendation to outperform from sector perform after a pullback in its shares.
• Hartford Financial (HIG) shares gained about 1% after the insurance firm reported revenue for the fourth quarter that beat the average analyst estimate.
• Mainz Biomed (MYNZ) gains 9% after announcing that it has started an international clinical study to evaluate the potential to integrate a portfolio of novel mRNA biomarkers into its detection test for colorectal cancer which is being commercialized across Europe.
• Snap Inc. (SNAP) surged 24% in premarket trading, but even that won’t be enough to recoup the social media stock’s year-to-date losses.
• Unity Software (U) shares are up 9% after the 3D game-development company reported fourth-quarter results that beat expectations and gave an outlook that is seen as strong.

While the overall earnings picture in the world’s largest economy remains robust, concerns over Federal Reserve tightening lingers. And fears of stubborn inflation increased after data showed U.S. gasoline surged to the highest in more than seven years.

“Overall, the earnings outlook is still solid, with the global tech sector on track for earnings growth of around 15%,” said Mark Haefele, chief investment officer at UBS Global Wealth Management. “In our base case, we expect valuations to stabilize and for strong mid-teens earnings growth to be reflected in share prices over the next 12 months.”

While Meta’s sluggish numbers dominated the headlines on Thursday, the flurry of earnings releases showed they may be an exception rather than the rule. Of the 272 companies in the S&P 500 that have reported results, 82% have met or beaten estimates. Profits are coming in at 8.8% above projected levels. Still, volatility has become the hallmark of global markets this year. Investors are trying to come to grips with less favorable monetary conditions and a moderating global recovery amid stubborn inflation.

“The first half this year we are now experiencing a rates shock,” Tracy Chen, portfolio manager at Brandywine Global Investment Management, said on Bloomberg Television. “If the Fed and BOE and other emerging-market central banks are too aggressive in hiking interest rates, potentially we are going to face kind of a recession risk in the second half, or at least more slowdown in the economy.”

In Europe, the Stoxx 600 is down 1.2%, its biggest drop in a week; Makers of cars and parts were the worst-performing industry group, while gains for technology shares surrendered gains after a surprising hawkish turn from the European Central Bank. Better-than-expected earnings were not enough to offset reduced risk appetite. Expected data on Wednesday include non-farm payrolls, while Air Products, Bristol-Myers, Regeneron and Royal Caribbean are among companies reporting. Hawkish comments from European Central Bank President Christine Lagarde and a Bank of England interest-rate hike underlined risks from inflation. While a selloff in the region’s bonds eased, the mood in the stock market turned sour.

Earlier, an Asia-Pacific equity gauge pushed higher partly on a 3% jump in Hong Kong, which was catching up with global markets after reopening from a holiday. Asia’s equity benchmark headed for its biggest weekly advance since early September, boosted by a rally in Hong Kong stocks as they resumed trading after the Lunar New Year holiday. The MSCI Asia Pacific Index climbed as much as 1%, helped by consumer discretionary and financial stocks. Alibaba and Meituan were among the biggest contributors to the rise, as the Hang Seng Index surged 3.2% to post its biggest post-holiday jump since 2009. Asia’s tech sub-gauge edged higher following Amazon’s earnings release. The MSCI Asia Pacific Index is on track for a 2.8% climb this week, its first advance in three, as concerns ease over the pace of U.S. monetary policy tightening. The measure is set to outperform the S&P 500, which is contending with a plunge in Meta shares overnight — the biggest one-day wipeout in history. As the earnings season continues, traders are awaiting the U.S. payrolls report for January due later Friday for more cues on the health of the world’s-largest economy at a time of China’s growth slowdown.  Benchmarks in South Korea, the Philippines and Australia rose, while Japan’s Topix had its best week since October. Markets in mainland China and Taiwan will reopen Monday. “At elevated valuation levels, disappointing earnings growth, higher inflation and interest rates we believe stocks with low valuations, strong balance sheet and safe dividends look more attractive,” Geir Lode, head of global equities at Federated Hermes, wrote in a note. “A larger outbreak of Covid in China would further constrain the global economic growth, limiting the upside in stocks.”

Japanese equities climbed, rebounding from Thursday’s slide to cap their best weekly gain since mid-October. Electronics makers and service providers were the biggest boosts to the Topix, which rose 0.6% for a weekly advance of 2.9%. Fast Retailing and Tokyo Electron were the largest contributors to a 0.7% gain in the Nikkei 225, which increased 2.7% on the week. “The price-to-earnings ratio for local stocks isn’t high when compared with U.S. equities, which makes the case easier for investors to buy here,” said Ayako Sera, a market strategist at Sumitomo Mitsui Trust Bank. “But investors will find it challenging to push equities much higher until there’s more clarity on the pace of U.S. rate hikes.”

India’s benchmark equity index completed its biggest weekly gain since early this year, amid optimism that the government’s plan to ramp up spending will help revive growth in Asia’s third-largest economy.  The benchmark S&P BSE Sensex climbed 2.5% this week, the most since the five days ended Jan. 7. The gauge fell 0.2% on Friday to 58,644.82, while the NSE Nifty 50 Index slipped 0.3%, after swinging between gains and losses several times during the session.    “Global markets, especially the U.S., have turned extremely volatile during the earnings which are impacting sentiment in our markets as well,” Ajit Mishra, vice president research at Religare Broking Ltd. said. “We recommend maintaining a cautious stance and keeping a check on leveraged positions.” Fourteen of the 19 sub-indexes compiled by BSE Ltd. fell on Friday, led by a gauge of realty stocks.  Finance Minister Nirmala Sitharaman earlier this week announced plans to increase capital spending by 35% to 7.5 trillion rupees ($100 billion) in the next financial year, seeking to bolster the economy’s recovery after disruptions from the pandemic. On the earnings front, out of the 34 Nifty 50 companies that have announced results so far, 18 either met or exceeded analyst estimates, 14 missed and two can’t be compared.  

Australian stocks advanced, capping the best weekly gain since August. The S&P/ASX 200 index rose 0.6% to close at 7,120.10 in Sydney, lifted by bank and industrial shares. The benchmark added 1.9% since Monday, for its best week since early August. News Corp was among the top performers Friday after its 2Q earnings exceeded analysts’ expectations. Nufarm was among the worst performers, pulling back from Thursday’s 20% surge. Boral also dropped as it traded ex-dividend. In New Zealand, the S&P/NZX 50 index fell 0.5% to 12,279.56.

In rates, Treasuries gained from belly out to long-end of the curve as S&P 500 futures give back late-Thursday gains driven by Amazon’s earnings report. Treasuries richer by ~3bp across long-end of the curve with 2s10s, 5s30s spreads flatter by 2bp-3bp; 10-year ~1.815% tightens more than 4bp vs German 10-year to narrowest spread since September; U.S. 2-year is little changed with German 2- year higher by 5bp on day, 33bp on week. Front-end lags, following short-dated German yields higher as EUR swaps reprice for ~50bp of ECB rate hikes this year. January jobs report at 8:30am ET is focal point of U.S. session.  German 5y yields turn positive for the first time since 2018. Peripheral spreads widen with 5y Italy underperforming. USTs bull-flatten a touch ahead of today’s payrolls release.

In FX, Bloomberg dollar spot index is near flat. Commodity currencies are the weakest in G-10, EUR outperforms, cable stalls near 1.36.

In commodities, West Texas Intermediate hit a fresh seven-year high and touched $92 a barrel while Brent rose above $93 after surging 19% this year and banks including Goldman Sachs Group Inc. forecast it’ll reach $100. Spot gold rises ~$9 near $1,813/oz. Most base metals trade in the green; LME lead rises 1.2%, outperforming peers

Looking at the day ahead now, and the main highlight will be the aforementioned US jobs report for January. And over in Europe releases include Euro Area retail sales, German factory orders and French industrial production for December, the German and UK construction PMIs for January. From central banks, speakers include the BoE’s Broadbent and Pill, and the ECB’s Villeroy. Finally, earnings releases include Bristol Myers Squibb and Aon.

Market Snapshot

• S&P 500 futures down 0.1% to 4,460
• STOXX Europe 600 down 0.2% to 467.59
• MXAP up 0.8% to 188.00
• MXAPJ up 1.1% to 615.27
• Nikkei up 0.7% to 27,439.99
• Topix up 0.6% to 1,930.56
• Hang Seng Index up 3.2% to 24,573.29
• Shanghai Composite down 1.0% to 3,361.44
• Sensex down 0.2% to 58,660.41
• Australia S&P/ASX 200 up 0.6% to 7,120.21
• Kospi up 1.6% to 2,750.26
• Brent Futures up 1.6% to $92.53/bbl
• Gold spot up 0.3% to $1,809.92
• U.S. Dollar Index little changed at 95.31
• German 10Y yield little changed at 0.16%
• Euro up 0.1% to $1.1457

Top Overnight News from Bloomberg

• The Bloomberg Dollar Spot Index inched lower and was set for its worst falling streak since April even as the greenback advanced versus most of its Group-of-10 peers
• The euro led gains among G-10 currencies, rising above $1.1450 with the currency’s volatility skew shifting higher across tenors compared to a week ago as topside demand gets a fresh boost following the latest ECB policy monetary meeting
• German bonds tumbled on Friday, pushing the yield on five-year notes above zero for the first time in over three years as markets braced for the ECB to scale back its accommodative monetary policy
• Money markets have priced in around 50 basis points of ECB tightening for December, which would be enough to end seven years of negative deposit rates. The move builds on wagers from Thursday triggered by ECB President Christine Lagarde’s press conference, where she said policy makers are no longer ruling out an interest-rate hike this year
• The pound fell against both the dollar and euro as the Bank of England’s hike on Thursday failed to quell doubts over the sustainability of a tightening cycle and the possibility of a policy error
• New Zealand dollar rose over its Australian peer on leveraged demand as New Zealand reported a slowdown in omicron cases. Yields of both nations’ bonds advanced with other risk assets
• Japan’s benchmark 10-year and five-year yields rose to a six-year high amid speculation the Bank of Japan will end up joining developed-market peers in normalizing monetary policy. The yen steadied

A more detailed look at global markets courtesy of Newsquawk

Asian stocks eventually traded mostly positive with early indecision seen after the tech-related turbulence in US. ASX 200 (+0.6%) lacked direction for most the session before a late surge lifted the index above 7,100. Nikkei 225 (+0.7) was initially contained by a pullback in USD/JPY, although earnings continued to drive price action. Hang Seng (+3.2%) outperformed on return from a three-day closure with autos underpinned by a jump in deliveries and sports brands bid heading into the official start of the Beijing 2022 Winter Olympics.

Top Asian News

• Lavrov Denies U.S. Video Claims; Putin, Xi Meet: Ukraine Update
• Hong Kong Security Police Arrest 75-Year-Old Democracy Activist
• Carlsberg CEO Downplays Risk of Russia, Ukraine on Business
• Tesla’s Call for Tax Breaks Rejected by India in Fresh Blow

European equities have drifted lower from the mildly positive cash open despite a lack of news flow. European sectors have tilted to a more defensive bias, but Energy outpaces as crude prices remain firm.

Top European News

• Saras Rises; Barclays Double Upgrades on Refining Margins
• Boris Johnson’s Key Aides Quit, Leaving Premier on the Brink
• Ousted Orpea CEO Got 2020 Bonus Even After Missing Growth Target
• Holcim Cut to Sell on Change in Future Strategy: Berenberg

In Fixed Income, core EGB benchmarks came under further pressure in early-European hours on further hawkish repricing. Action that sent the German 5yr yield positive and the 10yr to a test of 0.20%. The Periphery remains hampered with spreads widening further and focus turning to potential looming 30yr syndication via Spain.

In FX, DXY is contained with a negative-bias in pre-NFP trade, while EUR continues to outpace but GBP pullsback on EUR/GBP action. Antipodeans lag following a dovish RBA SOMP, but NZD is somewhat cushioned by AUD/NZD. JPY remains resilient with USD/JPY holding below 115.00. NATO Chief Stoltenberg will be appointed as Governor of the Norges Bank, via Daily VG; Deputy Governor. Bache will be the acting Norges Bank Governor from March 1st until Stoltenberg takes over.

In commodities, WTI and Brent continue to grind higher in a continuation of yesterday’s upward momentum, focus remains very much on geopolitics this morning. Brent-WTI arb continues to contract amid China-Russian deals and the ongoing Texas freeze. Citi recommended selling December 2022 Brent crude futures on expected inventory builds this year and it targets up to 20% downside in Brent December 2022 prices during H2. Spot gold and silver are modestly firmer but remain in recent ranges and near multiple DMAs

US Event Calendar

• 8:30am: Jan. Change in Nonfarm Payrolls, est. 125,000, prior 199,000
  • 8:30am: Jan. Change in Private Payrolls, est. 32,000, prior 211,000
  • 8:30am: Jan. Change in Manufact. Payrolls, est. 20,000, prior 26,000
• 8:30am: Jan. Average Weekly Hours All Emplo, est. 34.7, prior 34.7
• 8:30am: Jan. Unemployment Rate, est. 3.9%, prior 3.9%
  • 8:30am: Jan. Underemployment Rate, prior 7.3%
• 8:30am: Jan. Labor Force Participation Rate, est. 61.9%, prior 61.9%
• 8:30am: Jan. Average Hourly Earnings MoM, est. 0.5%, prior 0.6%; YoY, est. 5.2%, prior 4.7%

DB’s Jim Reid concludes the overnight wrap

3. ASIAN AFFAIRS

i)FRIDAY MORNING// THURSDAY  NIGHT

SHANGHAI CLOSED       //Hang Sang CLOSED UP 771.03 PTS OR 3.24%  /The Nikkei closed  UP 198.68 PTS OR 0.73%      //Australia’s all ordinaires CLOSED UP 0.60%  /Chinese yuan (ONSHORE) closed HOLIDAY    /Oil UP TO 92.16 dollars per barrel for WTI and DOWN TO 92.74 for Brent. Stocks in Europe OPENED  ALL RED       //  ONSHORE YUAN CLOSED XX  AGAINST THE DOLLAR AT XXX. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3588: /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN AND OFF SHORE TRADING STRONGER AGAINST USA DOLLAR

3 a./NORTH KOREA/ SOUTH KOREA

///NORTH KOREA

3B JAPAN

All yields are rising fast and this is panicking our central bankers. What is bugging them? Stagflation.  In other words inflation accompanied by no growth.

check out the huge rise in yields on all currencies this morning!!

(zerohedge)

Are Global Central Banks (Ex-China) Suddenly Panicking?

THURSDAY, FEB 03, 2022 – 09:20 PM

The last few weeks or so have seen a chill wind run through the halls of global central planners’ offices.

First (among the majors) it was the Bank of England who surprised investors with a rate-hike in mid-December (after promising they wouldn’t), then this morning ending QE and raising rates again (narrowly avoiding by a 5-4 vote a 50bps hike).

Source: Bloomberg

Then it was The Fed’s various group-thinkers doing an extremely rapid volte-face from forever-dovish to the hawkiest hawks in hawk-land, calling for a halt to QE, imminent and rapidly rising rate-hikes, and the start of QT.

US STIRs are now pricing in 5 rate-hikes by year-end (and a 25% chance of a 50bps hike in March)…

Source: Bloomberg

This morning saw Christine Lagarde change her stripes from uber dove to more fence-sitter (and some would say an actual hawkish bias was overheard with Bloomberg reporting that ECB policymakers “see policy change at the March meeting if inflation doesn’t ease.”

Rate-hike expectations are spiking in European bond markets…

Source: Bloomberg

And rates across the curve are flipping back into positive territory…

Source: Bloomberg

All of which leads us to this evening and the open of Japanese markets.

Haruhiko Kuroda has been perhaps the doviest of the dovish central bankers over the years which makes the very recent actions in the Japanese bond markets even more exceptional.

As Bloomberg notes this evening, speculation of monetary policy normalization has reached Japan.

2Y OIS (a proxy for investor expectations of future policy rates) breached zero for the first time since 2016 – the year the Bank of Japan introduced its negative interest rate policy.

Source: Bloomberg

5Y JGB Yields have pushed back above zero for the first time since 2016…

Source: Bloomberg

Of even more note is the fact that the 10Y JGB yield has surged up to the top of its ‘yield curve control’ corridor.

As a reminder, since September 2016, the BoJ has maintained a so-called ‘yield curve control’ policy (allowing 10Y JGB yields to fluctuate within a range regarding of its 0% target – initially +/-10bps but now +/-20bps).

Source: Bloomberg

The last time 10Y yields were at these levels (in Feb 2021), BoJ quickly stepped in, but – for now – this time is different.

“Market participants see an increasing chance that a successor to Kuroda will lift the negative-rate policy,” said Takahide Kiuchi, executive economist at the Nomura Research Institute in Tokyo.

“As the end of his tenure gets closer, the governor’s influence will decrease further.”

Some have argued this pressure is market participants’ desire to test the BOJ’s resolve, and we suspect that if 10-year yields continue to climb well above 0.2% today, BOJ action likely will become a reality.

“The recent rise in the 10-year JGB yield may have gone too far,” Tomonobu Yamashita and Shusuke Yamada, strategists at Bank of America, wrote in a research note.

“Given the BOJ’s dovish stance and leeway for increasing its JGB purchases, this may be an opportunity to buy JGBs cheaply.”

It’s too early to raise interest rates or change the yield curve control program now, Kuroda said last week.

However, once cannot miss the fact that The BoJ has let things get this far without verbal intervention at a minimum. This certainly has the smell of a ‘signal’ that, as Eiichiro Miura, GM of the fixed-income department at Nissay Asset Management notes, the “BOJ may not be seeking to forcibly contain 10-year yield at 0.2% as it may want markets to prepare for a potential change.”

So why are Bailey, Powell, Lagarde, and Kuroda all suddenly shedding their dovish wings?

Is this what has the world’s omnipotent puppet-masters panicking?

Source: Bloomberg

Global economic growth expectations are sliding rapidly and inflation (current and forecast) is accelerating.

The Keynesian boogeyman is back – global stagflation! And with global assets at their bubbliest values ever, is it any wonder those-who-shall-not-be-named are panicking?

So action is needed, but what? Hike and kill growth even more (and the wealth creation that’s been coveted for over a decade); don’t hike and spark fiat-credibility crushing inflationary fires worldwide?

One thing is for sure, the market is expecting some action soon (and The Taylor Rule suggests there’s a long way to go)…

Source: Bloomberg

For now, however, only the US appears to be allowing financial conditions to tighten (and perhaps modestly Japan).

Source: Bloomberg

And don’t expect any help from China this time.

It appears that traders across the world just realized that Central Bankers are serious this time, and as they dump bonds, the global volume of negative-yielding debt has collapsed…

Source: Bloomberg

All of which removes yet another leg from the ‘stool’ of global equity prices. TINA is well and truly dead now.

end

Special thanks to Doug C for sending this to us:

(Wolf Richter/WolfStreet)

Global Tightening amid Raging Inflation: February Update

by Wolf Richter • Feb 3, 2022 • 127 Comments

Brazil and Russia caught up via shock-and-awe rate hikes. But most central banks fell further behind. Then there are the reckless laggards.

By Wolf Richter for WOLF STREET.

The Bank of England today, February 3, started QT (Quantitative Tightening, the opposite of QE) and raised its policy rate by 25 basis points, to 0.50%, the second hike in a row, after having raised by 15 basis points at its December meeting. The hawkish part was how it happened: A bare majority of five members of the Monetary Policy Committee voted for the 25-basis-point hike, while four members voted for a 50-basis-point hike!

The BOE voted unanimously to start QT by reducing its holdings of government bonds by allowing maturing bonds to roll off without replacement, and by selling its corporate bonds outright. In terms of the corporate bonds, the BOE is following in the Fed’s footsteps which sold its corporate bond holdings entirely by November 2021.

The UK is getting hammered by inflation that has surged to 5.4%, the worst in four decades, and is hitting the standard of living of lower-income households particularly hard. The BOE expects inflation to surge to “around 7% in the spring.”

The Czech National Bank, also today, jacked up its policy rate by 75 basis points to 4.5%, the highest since January 2002, and the sixth rate hike in a row since June, totaling 425 basis points, including shock-and-awe hikes of 100 basis points in December and 125 basis points in November, which had been the biggest shock-and-awe rate hike in 24 years.

Unlike certain other central banks – the you-know-which reckless laggards at the bottom of this article – it’s actually battling inflation which spiked to 6.6%.

The Bank of Brazil, on February 2, jacked up its policy rate by another 150 basis points, to 10.75%, the eighth hike in a row since March, totaling 875 basis points.

The central bank said that the next rate hike might be smaller, on hopes that inflation is showing signs of responding to this shock-and-awe treatment. In November, inflation had hit a red-hot 10.7%, and in December it was slightly less red-hot at 10.1%.

With a policy rate of 10.75%, and a December inflation rate of 10.1%, Brazil is one of a few countries were the policy rate is above the rate of inflation, and therefore in real terms no longer negative, and therefore no longer stimulating inflation. By contrast, the Fed is a quadrillion miles behind.

The Central Bank of Armenia, on February 1, hiked its policy rate by 25 basis points, to 8.0%, the eighth hike in a row, including the 50-basis-point hike in December, from liftoff at 4.25%. Inflation backed off to a still red-hot 7.7% in December, from 9.6% in November.

The Bank of the Republic (Colombia), on January 28, jacked up its policy rate by a shock-and-awe 100 basis points, to 4.0%, the fourth hike in a row, totaling 225 basis points since liftoff in September. Inflation spiked to 5.6% in December.

The South Africa Reserve Bank, on January 27, hiked its policy rate by 25 basis points, to 4.0%, the second hike in a row, totaling 50 basis points.

Inflation spiked to 5.9% in December, at the top of the SARB’s target range of 3% to 6%.

The Central Bank of Chile, on January 26, dished out a shock-and-awe rate hike of 150 basis points, to 5.5%, the fifth hike in a row, starting in July, totaling 500 basis points, including two 125-basis-point hikes in December and October.

The central bank is battling inflation that spiked to 7.2% in December, the worst since 2008.

The National Bank of Hungary, on January 25, hiked its policy rate by 50 basis points, to 2.9%, the highest since 2013. The magnitude of the hike surprised economists who’d expected another 30-basis-point hike, as before. It was the eighth hike in a row, from liftoff in June at 0.6%.

Inflation, at 7.4% in November and December, was the worst since 2007. But core inflation spiked to 6.4% in December, the worst since 2002, up from 5.3% in November and 4.0% in September. The central bank pointed at stronger than expected inflationary pressure and sees core inflation increasing further over the coming months.

The State Bank of Pakistan, on January 24, paused with its policy rate at 9.75%, after three rate hikes totaling 275 basis points, including 100 basis points in December, and a shock-and-awe 150 basis points in October. Liftoff was in September from 7.0%.

Inflation spiked to 13% in January.

Norges Bank, the central bank of Norway, on January 20 paused after two rate hikes in December and September of 25 basis points each, to 0.5%. So far, it has raised its rate at every other meeting and is expected to hike by 25 basis points at its next meeting in March.

Inflation jumped to 5.3% in December, the worst since October 2008.

The Bank of Korea, on January 14, raised its policy rate by 25 basis points to 1.25%, the third hike since August, totaling 75 basis points. Inflation in December was 3.7%, following the 3.8% in November, the worst since 2012.

The Central Reserve Bank of Peru, on January 6, hiked its policy rate by another 50 basis points to 3.0%, the sixth hike in a row, since liftoff at 0.25%. Inflation backed off from 6.4% in December to 5.7% in January, same as in November.

The National Bank of Poland, on January 4, hiked its policy rate again by 50 basis points, to 2.25%, after the 50-basis-point hike in December, the fourth hike in a row, totaling 215 basis points, from liftoff at 0.1%.

Inflation spiked to 8.6% in December, the highest since 2000, up from 7.8% in November, from 6.8% in October, and 5.9% in September. Prices soared across many categories, including housing-related costs and utilities, food and beverages, and recreation and cultural activities.

The Bank of Mexico will meet on February 10. At its last meeting on December 16, it surprised by hiking its policy rate by 50 basis points, to 5.5%, the fifth hike in a row, totaling 150 basis points.

Inflation in Mexico has risen to 7.4% in November and December, the worst since January 2001.

The Central Bank of Russia will meet on February 11. At its last meeting on December 17, it hiked its policy rate by another 100 basis points to 8.5%, the seventh rate hike in 2021, totaling 425 basis points.

Inflation in January remained at the same red-hot pace of December, at 8.4%, over double the Bank of Russia’s target of 4%. Food inflation dipped to 10.6%. That inflation has stopped getting worse is raising hopes the shock-and-awe treatments are showing the first of results.

With a policy rate of 8.5% and an inflation rate of 8.4%, the Central Bank of Russia has joined the elite club of central banks whose policy rates have caught up with and surpassed inflation – Brazil being the other major one – thereby no longer stimulating inflation.

The Reserve Bank of New Zealand will meet on February 23. At its last meeting on November 24, it hiked its policy rate by 25 basis points to 0.75%, the second hike in a row. It already ended QE cold-turkey in July.

Inflation spiked to 5.9% in Q4, the highest since the 1980s. And the low interest rates and QE have inflated the worst housing bubble in the world.

The Central Bank of Iceland will meet on February 9. At its last meeting on November 17, it hiked its policy rate by 50 basis points to 2.0%, the fourth hike since liftoff in May from 0.75%.

Inflation has spiked to 5.7% in January, from 5.1% in December, the highest since 2012.

The Biggest Most Reckless Laggards

The Fed, on January 26, announced via Chair Powell at the FOMC press conference that it would hike its policy rate on March 16 and that it would start QT later this year. In November, it began tapering its asset purchases. It has since then accelerated the process of tapering and will end QE entirely in early March, just before liftoff.

But at the moment, the Fed’s target range for the federal funds rate is still 0% to 0.25%, and it is still doing QE even if at a much-reduced pace.

Meanwhile, CPI inflation spiked to 7.04%, the worst since 1982. With the Effective Federal Funds Rate at 0.08%, the “real” EFFR (EFFR minus CPI) is now at -6.96%, the most negative and worst ever.

The ECB, today, under massive pressure from spiking record worst inflation of 5.1% in the Eurozone, performed a policy U-turn and opened the door to a first rate hike in 2022. Lagarde is probably the world’s most dovish central banker, but with inflation eating everyone’s lunch in the Eurozone, she said today, “the situation has indeed changed.”

In December, the ECB announced a sharp reduction of QE from an average of €92 billion a month late last year, to about €40 billion by March, €30 billion a month in Q3, and €20 billion a month in Q4.

The Bank of Japan keeps emphasizing that it is not heading toward “normalization” of monetary policy. Its policy rate is still -0.1%. But it began tapering its ultra-massive QE in the fall of 2020 and since May 2021, its balance sheet has flattened out, regardless of what it said in its announcements.

Inflation has been rising even in Japan, to reach +0.8% in December, the highest since before the pandemic. But this rate of inflation is minuscule compared to the fiascos in the US and elsewhere, giving Japan one of the least negative “real” policy rates of -0.9%, compared to the US “real” EFFR of -6.95%.

The Reserve Bank of Australia, on February 1, announced that it would end QE on February 10. But it kept its policy rate at 0.1% and said that it would be “patient” in raising the rate. Inflation rose to 3.5% in Q4, faster than forecast.

The Bank of Canada ended is massive QE in 2021 and reduced its balance sheet by 13% as it shed its short-term Treasury bills and repos. At its meeting on January 26, it maintained its policy rate at 0.25%, but paved the way for a rate hike at its next meeting on March 2. Inflation has surged to 4.8% in December, the worst since 1991.

The People’s Bank of China has tiptoed back into easing by lowering its policy rates a tiny bit, bringing its Loan Prime Rate down by 10 basis points, to 3.7%. It is struggling with its own universe of problems, including the slow-motion collapse of the highly leveraged real estate development sector, whose activity – construction – was a huge contributor to economic growth. Inflation has eased to 1.5%.

The Central Bank of Turkey has become part of a joke on how to destroy a currency as quickly as possible. Amid raging inflation – it hit 49% in January – the central bank has been cutting its policy rate to 14%, from 19% in mid-2021, after Erdogan fired the head of the central bank. Erdogan is now trying to control this inflation rampage by firing the head of the statistics agency.

Enjoy reading WOLF STREET and want to support it? Using ad blockers – I totally get why – but want to support the site? You can donate. I appreciate it immensely. Click on the beer and iced-tea mug to find out how:

3c CHINA

CHINA/USA

END

4/EUROPEAN AFFAIRS

FRANCE/VACCINE/VACCINE MANDATE

This is very interesting this morning.  French protesters gathering around Pfizer’s French headquarters chanting “assassins”

(Watson/SummitNews)

Watch: French Protesters Surround Pfizer HQ Chanting “Assassins”

FRIDAY, FEB 04, 2022 – 02:00 AM

Authored by Steve Watson via Summit News,

Video shot this past weekend in Paris France shows thousands of protesters surrounding the headquarters of Pfizer in the nation’s capitol and chanting “assassins!” in protest of vaccine mandates.

Watch: SEE ZEROHEDGE

Protests have been raging in France for a long time, and have been energised by French President Emmanuel Macron admitting last month that part of his “strategy” on tackling COVID is to “piss off” the unvaccinated as much as possible by limiting their freedoms and coercing them into taking shots.

Macron made the comments in an interview with the Le Parisien newspaper, noting “As for the non-vaccinated, I really want to piss them off. And we will continue to do this, to the end. This is the strategy.”

The French President previously announced that those who don’t have a ‘COVID pass’ will be banned from participating in basic life activities such as visiting shopping malls, restaurants and using public transport. The so called green health pass is now a part of daily life in France.

When the system came into effect, Macron also asserted that showing ‘papers’ to enter cafes is about “freedom”.

In addition, last week the administrative director of the public hospital network of the Paris region, Martin Hirsch argued that unvaccinated citizens should be prohibited from accessing hospital care.

“I don’t want to close the door of the hospital and of care to anyone, but you have to be allied with the responsibility that allows everyone to benefit from it,” Hirsch proclaimed:

END

AUSTRIA

(Paul Craig Roberts)

Austria: A Resurrected Third Reich

February 4, 2022| Categories: Articles & Columns| Tags: |Print This Article

Austria: A Resurrected Third Reich

Paul Craig Roberts

Compulsory Covid vaccination is set to be imposed on Austrians. This is a direct violation of the Nuremberg Laws. Will the Swastika go up all over Europe?

Is there a mere ounce of intelligence and integrity anywhere in the Austrian government? It is an established fact that the Covid vaccine fails to protect. It is an established fact that Covid is deadly only for those with co-morbidities who are not treated with effective means such as HCQ, Ivermectin, or monoclonal antibodies. It is an established fact that the Covid vaccine results in a high rate of health injury and death. It is an established fact that the mass vaccination spawns new variants. It is an established fact that the vaccine is, therefore, counterproductive.

So why has the Austrian government passed a law requiring that every Austrian be injected with a dangerous substance? How much did Big Pharma pay the members of the government? Why when other European governments are ending all mandates has Austria’s government chosen to open itself to the death penalty for violating the Nuremberg Laws?

Why do the Austrian people tolerate their Nazi government coercing them to be injected with a dangerous substance that can injure and kill them? At the least, the Nazi Austrian government should be overthrown, and perhaps more violent methods be used against the government that is legislating mass injury and murder.

https://www.rt.com/news/548263-austria-compulsory-vaccination-vote/

end

UK

The high cost of energy is causing a huge steep drop in the quality of life for UKer’s.  The government scrambles to avert an energy crisis with a subsidy plan

(zerohedge)

Britons Face “Steep Drop In Quality Of Life” As UK Gov’t Scrambles To Avert Energy Crisis With Subsidy Plan

FRIDAY, FEB 04, 2022 – 02:45 AM

Finally, observers of British politics have something else to talk about besides ‘Partygate’.

In an effort to stave off an epidemic of what one CNBC host called “energy poverty”, Her Majesty’s Government has subsidized the energy costs borne by millions of British households as decades of energy policies that overemphasized reliance on imported natural gas – prices of which have soared over the last year – in favor of dirtier, but abundant, sources like coal have brought the British economy to the brink of an energy crisis.

Energy bills are expected to drastically spike in the coming months after Ofgem, Britain’s energy sector regulator, announced on Thursday that it would be raising its price cap on household energy bills by 54% starting April 1, a record-breaking increase instituted to stop power utilities from sinking into bankruptcy in the face of surging LNG prices. That’s on top of a 12% hike approved back in October.

The average household’s annual energy bill is currently between £1,277 ($1,730) and £1,370 in the UK, and the increase could saddle millions of families with enormously increased costs for heating and electricity.

As a result, HMG has decided to issue direct subsidies to the British people to prevent millions from being squeezed as a result of what have now been exposed as unwise energy policy decades in the making that has shifted Britain’s reliance on abundant coal that’s widely available within the UK to imports of the “cleaner” LNG.

Speaking before the House of Commons on Thursday, Chancellor Rishi Sunak proclaimed that “just as the government stood behind the British people through the pandemic…so we will help people deal with one of the biggest costs they now face – energy.”

To accomplish this, the government will step in to subsidize the energy bills to the tune of about £350 for nearly 30MM British households, at a cost quoted by Sunak of roughly £9 billion. That will – according to Sunak – cover roughly half of the expected ~£700 annual increase in heating and energy costs expected to be borne by the average household. More than half of British households are on adjustable-rate energy plans, which make them especially vulnerable to price hikes.

HMG will also impose a scheme to spread the cost of higher bills out over a longer period of time to make them more manageable. This will be enacted in the form of an upfront discount of £200 per household. Finally, a small tax rebate rounds out the government’s plan. The payments through energy suppliers will apply across England, Scotland and Wales, but not Northern Ireland which operates under a different regulator.

But how did the UK get to this point?

Sunak unsurprisingly tried to pin the blame entirely on developments in global energy markets far removed from Britain’s control. But as many pointed out in response to the decision, that’s not exactly accurate. Britan’s leaders have for decades pushed LNG, wind, solar and – to a much lesser extent – nuclear (the only truly stable source of power aside from fossil fuels) over coal, it’s most abundant natural power source. As a result of soaring demand, the government’s gas reserves have plummeted, leaving Britain’s economy especially vulnerable to natty gas prices.

Consumers in the US are groaning about WTI crude at almost $90/barrel, but surging natty gas prices in Europe have squeezed European nations – which mostly import their gas and oil from Russia.

UK natty gas prices have nearly quadrupled over the last year.

To put it in terms that Americans might understand: at their current levels, natty gas prices in the UK are equivalent to US crude reaching $141

But CNBC’s Brian Sullivan quickly pointed out that the UK largely brought this problem on itself: “The government is trying to help consumers out because poor policies that the government made have led to big price hikes on those consumers,” said CNBC’s Brian Sullivan. “So many of these power companies and utilities are losing so much money…every utility in the UK is going to raise prices.”

And with the Bank of England hiking interest rates to help combat soaring prices, Sullivan observed that the British people might soon face the largest drop in their standard of living in decades. END

“It’s all happening at the same time and what’s it’s going to do is result in a steep drop in the quality of life for millions of people in England…I hate to be blunt about it but that’s the truth.”

END

FRANCE

French gas stockpiles dwindle and there are fears of winter blackouts

(zerohedge)

Dwindling French Gas Stockpiles Stoke Fears Of Winter Blackouts

FRIDAY, FEB 04, 2022 – 05:45 AM

The Brits aren’t the only European nation to find itself on the verge of a full-blown energy crisis.

On Thursday, French natural gas pipeline operator GRTgaz warned that French gas stockpiles are much lower at this point in the year than they have been during years past – and as a result, they run the risk of potentially being depleted before the winter is up, a disaster that could make last year’s deep freeze in Texas look tame if a sudden cold snap sends demand soaring.

According to data from Gas Infrastructure Europe, France’s stockpiles were about 34% full as of Feb. 1, which is well below the five-year average of 42%. Inventories are now at the lowest seasonal level since 2018, when a brutal winter cold snap nicknamed “the Beast from the East” left French reserves standing at just 3% when the heating season was over.

“We’ll probably be close to zero toward the end of March, and we remain vigilant on that topic,” GRTgaz chief Thierry Trouve said in a presentation in Paris Thursday.

It’s the most precarious for French gas inventories since they arrived at their lowest seasonal level since 2018. Inventories are now at the lowest seasonal level since 2018, when the country ended the heating season with storage at a record-low of just 3%.

And gas prices are much higher today than they were back then.

Fortunately, mild weather is expected to continue across much of Europe this month. But further down the road, limited Russian shipments to Europe and surging demand as economies reopen following the omicron wave could create problems, especially if a late-season cold snap should arise.

Additionally, France’s energy problems have been exacerbated by the lower-than-usual capacity at the country’s nuclear power plants, some of which have been closed over safety fears as President Emmanuel Macron seeks to modernize France’s nuclear power system.

As we have previously reported, this drawdown in nuclear capacity has raised the risk of rolling blackouts in France if struggles to compensate with LNG.

France will be able to cope with a “late” cold snap assuming that  enough gas continues to arrive from Norway and from other nations via France’s LNG terminals to compensate for the shortage of supplies coming “from the East,” said Trouve. He added that provisional schedules for terminal deliveries remain “well filled”.

Even if supply shortages don’t end up leading to rolling blackouts, it’s possible that France’s energy woes could create a serious political problem for President Emmanuel Macron ahead of elections in April. Energy inflation is already creating serious problems in the UK, and if renewable power generation lags, nuclear reactors remain halted for maintenance, and natural gas prices remain elevated, then higher power bills into January and February could create more unpopularity for Macron.

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

RUSSIA/GERMANY

Stupid games! First Germany bans RT Deutsche and now Russia bans Deutsche Welle in Russia

(zerohedge)

Russia Retaliates Against German Broadcaster After Ban On RT Deutsch

FRIDAY, FEB 04, 2022 – 04:15 AM

Amid the ongoing Ukraine standoff, Russia and Germany have intensified their long simmering spat over foreign media access. After Germany banned RT Deutsch – which is Russia’s state-run international media network in Germany – on Wednesday, Moscow has retaliated:

The Russian office of the German state broadcaster, Deutsche Welle (DW), is to be closed as part of the “first round” of a response to Berlin’s “unfriendly actions” against RT DE, the Russian Foreign Ministry said in a statement on Thursday.

Additionally Russian media details, “The German outlet will also be barred from broadcasting in Russia via a satellite or through other means, the statement added. All staff members at DW’s Russian office are to be stripped of their press credentials, according to the foreign ministry.”

DW will now be recognized as a “foreign media outlet acting as a foreign agent” under Russian law, according to new policies being implemented in response to the spat by the Kremlin, which is further said to now be compiling a list of additional German state and public entities to be targeted in a ban.

Germany previously cast the RT ban as fundamentally based on a licensing and legal hurdle that the broadcaster failed to comply with. According to a prior German regulator statement:

“RT DE,” the service’s official name, was prohibited “because it does not have the necessary broadcasting license,” according to the German broadcasting regulator’s oversight commission. Following a German complaint, RT’s German-language broadcasts had been blocked by its satellite broadcaster since December 22, although the broadcasts were still available online.

But RT itself has hit back by calling it an “illegal” act of censorship which is connected with current geopolitical tensions surrounding Ukraine and the issue of NATO expansion – the latter issue which RT consistently editorializes against.

Deutsche Welle, for its part, has slammed the fresh Thursday declaration by Moscow, with DW Director Peter Limbourg saying, “We are being made a pawn here in a way that media only have to experience in autocracies.”

end

From my son:

ISRAEL/COVID/VACCINE

Deaths rising to all time high due to ADE and lack of immunity with vaccianted.

Fwd: Covid deaths in Israel have hit an all-time daily high. The mRNA vaccine experiment has failed. IT MUST END NOW.

Inbox

Mark Organ	3:54 PM (14 minutes ago)

The canaries in the coal mine are dying.

And this is from the country that got more placebos than anyone else, at least in the first 2 doses.

This is what ADE looks like in statistics. This horrible vaccine has a number of ways of killing people and I think this will be the #1. The next variant, or the one after that, will be absolutely terrible.

Anybody that has been vaccinated had to have Ivermectin and pine needle tea available. Should also be taking vitamin C and D, zinc and Quercitin every day. Avoid boosters.

Sent from my iPhone

Begin forwarded message:

From: Alex Berenson from Unreported Truths <alexberenson@substack.com>
Date: February 4, 2022 at 2:50:15 PM EST
To: organm999@gmail.com
Subject: Covid deaths in Israel have hit an all-time daily high. The mRNA vaccine experiment has failed. IT MUST END NOW.
Reply-To: Alex Berenson from Unreported Truths <reply+spsss&gutl&&42e46b5a7140715b65d7dd22ac400c4ca66caef5d67d5b3e70100d4adf278aed@mg1.substack.com>



	Covid deaths in Israel have hit an all-time daily high. The mRNA vaccine experiment has failed. IT MUST END NOW.Alex Berenson Feb 4 Remember: Israel was the first country to mass vaccinate with Pfizer’s mRNA vaccine. It was the first country to use boosters. The first to offer a fourth shot. About 95 percent of adults over 50 are vaccinated. About 85 percent have received a booster. This is the result. How can anyone view this chart as evidence of anything except – at best – complete vaccine failure? And at worse evidence that the mRNA vaccines are interacting with Omicron in a way that is worsening outcomes. Spare me the talk of relative risk ratios. SPARE ME. The vast majority of the people dying in Israel are vaccinated. Something is very wrong and the only rational solution at this point is to pull the vaccines and figure out what. We are very, very fortunate that Omicron is less dangerous overall. The next variant may not be. See the discussion

end

special thanks to Robert H for sending this to us

Erdogan in Kiev, Putin in Beijing: can neo-Ottomanism fit into Greater Eurasia?  

Inbox

Robert Hryniak	5:03 PM (7 minutes ago)
to

It is interesting how the world turns driving the delusional bunch to shout out more lies and narratives that amount to nothing with no proof of their claims. That is not say that China nor Russia are much better as each of them has many a skeleton in the closet.

However, what is clear is that for the moment both parties are committed to commerce over war within a rules based order. Whether this will remain the case through time is unknown. However for now, they are letting the west paint themselves as rogues interested war to achieve control and not trade. Most nations wants trade over war and will not be easily swayed to become ready vassals in servitude by Color revolutions or simply payoffs. That is not to say that the BRI approach of China is better in the long run. But in the short term it offers exactly what America does not, possible prosperity. And arming the Ukraine or setting up bases there as some NATO participants have done is simply a slap to any Rules based order between nations and is is gunboat diplomacy using the people there as expendable vassals for gain. And in today’s fast changing political realities offers no positive leadership or moral high ground. 

By ignoring a Rules based approach to winning hearts and minds and providing prosperity the west limits its’ ability to project authority and leadership while at the same time. Taking water by countries simply saying no and settling in any form possible but dollars. Take the new gas agreements with China and Russia that’s will settle inn Euro’s and not USD. It is truly remarkable how quickly America and NATO is losing its’ influence in both Europe and the Middle East let’s alone Eurasia. As for threatening Brazil over meeting with Putin it speaks of desperation and not Statesmanship. 

Very sad to see, but predictable with Cookies Nuland and little Blinken who seems to lose creditability with the passage of each day. And hysteria over a Russian invasion without real proof smacks of another failing narrative. And should sanctions be imposed that cut Russia from Swift one wonders who will suffer more, Russia or the West? 

America really needs to find itself in what America really is and not by the delusional antics of incompetence practiced by parties not capable of understanding and reacting  to global realities. 

https://thecradle.co/Article/columns/6612

And to further rub salt into the delusional bunch and failing antics. 

Hungary has officially BLOCKED Ukraine’s joining NATO’s Cyber Security Group!  This is a virtual prerequisite to joining NATO.   In order for any country to join NATO, all thirty (30) NATO members must vote to approve it.   If this is the case, then Hungary blocking Ukraine joining NATO Cyber Security Group has just put a virtual nail in the coffin of Ukraine joining NATO at all.

So now what? Are bribes coming or attempted slander or worse? Does this mean that the game plan of sneaking the Ukraine in covertly is over? Clearly as a vassal state there is no ability for the Ukraine to act in accordance with the Minsk Agreement which they signed and agreed to. Because by implementation of the agreement there are no longer a useful tool. So the Ukraine remains in limbo to be further hollowed out. A little bit of mindfulness and show of a true helping hand in rebuilding the nation do much more than sending munitions. Half of which will be sold the Ukies on the black market for cash. Crazy business. 

6// GLOBAL COVID ISSUES/VACCINE MANDATE ISSUES/

CORONAVIRUS/UPDATE/VACCINE MANDATE

They have got it right:  go long public funeral homes an go short life insurers!

a must read…

(COURTESY ZERO HEDGE)

Long Funeral Homes, Short Life Insurers? Ex-Blackrock Fund Manager Discovers Disturbing Trends In Mortality

FRIDAY, FEB 04, 2022 – 12:10 PM

Four weeks ago, OneAmerica insurance company CEO Scott Davison revealed that they had witnessed ‘the highest death rates in the history of this business – not just at OneAmerica’ with a jump of ‘40% over what they were pre-pandemic.‘ Interestingly, Davison noted that the majority of deaths are not classified as due to Covid-19.

The implication to many was clear – that the Covid-19 vaccine is linked to the excess mortality, and months of vaccine injury reports were now spilling over to actuarial data – which is beginning to show, among other things, that younger, working-age people began dying in greater numbers as vaccine mandates hit – for a disease which primarily kills older, non-working age individuals. The counter argument, often presented without evidence, is that the increase is due to people who postponed elective surgeries and other medical treatments during the pandemic.

Ex-Blackrock fund manager Ed Dowd is in the former camp, and has spent the last month analyzing breadcrumbs associated with a rise in excess mortality vs. pre-pandemic levels. Given that we’re now in the middle of earnings season, there are some pretty big crumbs rolling out of the insurance and funeral services industries which are beginning to paint a disturbing picture.

A few key observations:

• Mortality worsened in 2021 vs. 2020 despite widespread vaccinations
• A spike in Mortality among younger, working-age individuals coincided with vaccine mandates
• The spike in younger deaths peaked in Q3 2021 when Covid deaths were extremely low (but rising into the end of September)

On Tuesday, financial insurance company Unum reported that their Life segment saw an increase of 9% in their ratio of payouts vs. premiums (Benefit ratio), a 17.4% increase in 2021 vs. 2020 despite widespread vaccinations, and a 13.3% increase over 2019.

On Wednesday, Dowd noted that funeral home company Carriage Services saw a 28% increase in September 2021 vs. 2020, and a 13% increase in August vs. the same period. Funerals and cremations are up 12% and 13% respectively on the quarter.

In general, funeral homes saw an uptick in business in Q3, and Dowd will be closely monitoring Q4 reports which are expected around Feb. 15 – less than two weeks away.

Dowd also noted on Wednesday that Lincoln National’s death claims are up 13.7% y/y, and up 57% in Q4 vs. 2019. CFO Randy Frietag explained on Thursday that in 2021, the share of young people dying from Covid doubled in the second half of the year.

Meanwhile, Reinsurance Group of America noted in their Thursday earnings call that Q4 was impacted by a meaningful level of Covid-19 mortality claims despite the fact that the Covid-19 vaccines have been around for more than a year.

Also noting a spike in younger deaths which peaked in Q3 2022, is Hartford Insurance Group, which reported that mortality is up 32% from 2019 pre-covid levels, and 20% from 2020 pre-vaccine levels.

mRNA inventor Dr. Robert Malone noted the troubling data in a recent appearance on Steve Bannon’s “War Room”:

Some key questions for the insurance companies:

• What are the leading causes of death for 2020 and 2021?
• How many of those who died were vaccinated vs. unvaccinated?

Reinsurance Group of America, for example, reported a profit in Q4 2020 when the most of the population was unvaccinated and amid a deadlier strain of Covid-19, yet they registered a loss in Q4 2021 with more than 60% of the country fully vaccinated (and around 75% who have received at least one dose).

Perhaps this is why Pfizer is now actively fighting to suppress research data submitted to the FDA for approval – while the pharmaceutical giant and its peers continue to enjoy legal immunity from vaccine injuries.

In closing, some tongue-in-cheek non investment advice from Dowd: (see zerohedge))

end

Brought this story to you yesterday but it is worth repeating: the FDA are nothing but assassins carrying out the work provided to them by Pfizer, Moderna etc.

(Stieber/EpochTimes)

FDA Suddenly Scrubs Moderna Document From Website After Reporters Ask Questions

FRIDAY, FEB 04, 2022 – 01:10 PM

Authored by Zachary Stieber via The Epoch Times (emphasis ours)

A Food and Drug Administration (FDA) document explaining why the agency approved Moderna’s COVID-19 vaccine was removed from the agency’s website overnight.

The Summary Basis for Regulatory Action offered more details about how regulators reached the approval decision, and included references to an unpublished analysis that found the rates of post-vaccination heart inflammation were higher than any U.S. agency had found before.

After The Epoch Times reviewed the document and sent questions about it to FDA spokespersons, it disappeared from the agency’s website.

“We are aware of the issue and hope to have the document reposted as soon as possible,” a spokesperson told The Epoch Times in an email on Feb. 3.

Reached by phone and asked for more details about the issue, the spokesperson said: “I reached out to the website people. I don’t really have any more information to tell you.”

The Epoch Times has submitted Freedom of Information Act requests for the document and several unpublished analyses referenced in it, including the FDA meta-analysis.

Barbara Loe Fisher, president of the National Vaccine Information Center, a nonprofit that advocates for informed consent, told The Epoch Times in an email that “the public has the right to review the evidence FDA is using to license new mRNA vaccines as safe and effective.”

“Lack of transparency only fosters distrust in government agencies charged with protecting the public health. FDA should immediately release all information related to the incidence of myocarditis and other serious adverse events following mRNA COVID-19 vaccinations, whether that information has been provided to the agency by vaccine manufacturers or discovered through in-house analyses of additional data collected by federal officials,” she wrote.

The FDA meta-analysis examined data of four health care claims databases and estimated that, among males aged 18 to 25, the rate of myocarditis following Moderna’s primary series was 148 per million males vaccinated.

That figure is higher than other government estimates, including a Centers for Disease Control and Prevention (CDC) analysis of reports submitted to the Vaccine Adverse Event Reporting System. The analysis found about 10.7 cases per million males aged 18 to 24 who got Moderna’s first shot and 56 cases per million among those who received Moderna’s second shot.

Myocarditis is one type of heart inflammation that people who receive vaccines built on messenger RNA (mRNA) have experienced at higher-than-expected rates. It also occurs among people who contract the CCP (Chinese Communist Party) virus, which causes COVID-19.

Moderna’s shot, a type of mRNA vaccine, is administered in a two-dose primary series. The doses are administered about a month apart.

The FDA approved Moderna’s vaccine on Jan. 31 without convening its expert vaccine advisory panel, a growing trend for the agency.

The CDC’s vaccine advisory committee is scheduled to meet on Feb. 4 to review data on the jab.

An agenda (pdf) for the meeting says a Moderna scientist will present safety and efficacy data on the company’s shot, followed by CDC researchers discussing updates on post-vaccination heart inflammation and the benefit-risk framework in light of the most recent analyzed information.

Researchers in the UK found in December 2021 that men under 40 were much more likely, and females under 40 were more likely, to suffer from heart inflammation after Moderna’s second shot than from COVID-19 itself.

CANADA

James Bovard discussing how freedom is Public Enemy  No. 1

(James Bovard)

The Media War On Canadian Truckers: Is Freedom Public Enemy Number One?

THURSDAY, FEB 03, 2022 – 09:40 PM

Authored by James Bovard,

The denigration of the Canadian trucker protest convoy exemplifies how freedom is now the biggest villain of the Covid-19 pandemic. A Washington Post cartoonist portrayed the trucker convoy as “fascism” incarnate while another Post column derided the “toxic ‘Freedom Convoy.’” Anyone who resists any government command is apparently now a public enemy.

The trucker protest was spurred by the Canadian government’s sweeping Covid vaccine mandate. Many truckers believe the risks of the vaccine outweighs the benefit and, more importantly, that they have the right to control their own bodies. Canadian Prime Minister Justin Trudeau declared on Monday, “There is no place in our country for threats, violence or hatred.” Except for the hatred Trudeau whips up by denouncing vaccine mandate opponents as “racist” and “misogynistic.” And except for the “threats” and “violence” used by government enforcement agents to compel submission to any pandemic decree issued by Trudeau or other politicians.

Since the start of this pandemic, many people who boasted of their trust in “science and data” also believed that absolute power would keep them safe. According to their scorecard, anyone who objected to government commands was the equivalent of a heretic who must be condemned if not banished from everyplace except the cemetery. North of the border, Quebec epitomizes this intolerance with its new edict prohibiting unvaccinated individuals from shopping at Costco or Walmart.

The same critics who latch onto any obnoxious behavior by a few wayward Canadian truckers (MSNBC denounced them as a “cult”)’ to condemn freedom are also happy to exonerate any American politician who pointlessly destroyed freedom during the pandemic with bizarre edicts. In December 2020, Los Angeles Mayor Eric Garcetti banned all unnecessary “travel, including, without limitation, travel on foot, bicycle, scooter, motorcycle, automobile, or public transit.” The mayor (who was caught violating California mask mandates at the NFC championship game) offered no evidence to justify placing four million residents under house arrest. Governor Ralph Northam dictated that all Virginians must stay indoors from midnight until 5 a.m, with a few narrow exceptions. Federal judge William Stickman IV condemned Pennsylvania’s restrictions: “Broad population-wide lockdowns are such a dramatic inversion of the concept of liberty in a free society as to be nearly presumptively unconstitutional.”

Preventing politicians from obliterating freedom is now the worst form of tyranny. On Thanksgiving Eve 2020, the Supreme Court struck down Gov. Andrew Cuomo’s edict that limited religious gatherings in New York to ten or fewer people while permitting far more leeway for businesses to operate. The Court declared that Cuomo’s rules were “far more restrictive than any Covid-related regulations that have previously come before the Court… and far more severe than has been shown to be required to prevent the spread of the virus.” An American Civil Liberties Union official fretted that “the freedom to worship… does not include a license to harm others or endanger public health.” Harvard law professor Lawrence Tribe and Cornell professor Michael Dorf warned that the Supreme Court was becoming “a place like Gilead — the theocratic and misogynist country in Margaret Atwood’s dystopian ‘The Handmaid’s Tale.’”

Many progressives talk as if America faces a choice between reckless freedom and paternalism – i.e., submission to a benevolent elite. But regardless of Fauci’s boundless conceit, omniscient officials have yet to come to the rescue. Government agencies have blundered catastrophically since the start of the pandemic.

The Centers for Disease Control bollixed America’s initial response by sending out faulty, contaminated test kits to health agencies that failed to detect the rapidly spreading virus. Governors panicked and shut down schools, resulting in vast losses in learning and widening the achievement gap between affluent and low-income students. The vast majority of small businesses were locked down and thousands were bankrupted in a futile effort to prevent an airborne virus from continuing to spread. Placing scores of millions of people under house arrest led to record-breaking fatalities for drug overdoses and a tidal wave of depression and anxiety. New York City’s covid vaccine passport regime failed to prevent the Big Apple from becoming the hottest spot in the nation for the omicron variant.

President Biden portrayed the vaccines as a magic bullet and falsely promised that people who got injected would not get Covid. The C.D.C. stopped counting “breakthrough” cases of Covid among the fully vaccinated, paving the way for a resurgence of the virus that has now infected more than 70 million Americans. Or maybe 200+ million Americans since C.D.C. previously stated that only one in four cases are diagnosed and reported. Whatever. The Food and Drug Administration is seeking to delay fully disclosing Pfizer’s application for its Covid vaccine approval for 75 years. After Biden issued a mandate that forced hospitals to fire healthy unvaccinated nurses, the CDC said it was OK for hospitals to rely on Covid positive nurses to treat patients – one of the biggest absurdities of the pandemic. end

Freedom is not a panacea for every challenge in life. But it is far superior to boundless submission to tinhorn dictators who know far less than they claim. Politicians like Trudeau and Biden who fuel mass rage against any group that does not kowtow to officialdom are sowing seeds of hatred that will proliferate long after the pandemic ends. In the long run, people have more to fear from politicians than from viruses.

end

CANADA

Fundraising crampaign for our Cdn truckers halted after reaching 10 milllion C$

(Zhong/EpochTimes)

Fundraising Campaign For Truckers Halted After Reaching $7.96 Million

THURSDAY, FEB 03, 2022 – 07:40 PM

Authored by Allen Zhong via The Epoch Times (emphasis ours),

A fundraising campaign for truckers in the Freedom Convoy 2022 has been Frozen by GoFundMe after it raised over CA$10 million (US$7.96 million.)

“This fundraiser is currently paused and under review to ensure it complies with our terms of service and applicable laws and regulations,” reads a message placed at the top of the fundraising page.

The campaign was launched by two people who identified themselves as Tamara Lich and B.J. Dichter.

The review by GoFundMe appears to be focused on several areas: the identity of the fundraisers, use of the raised funds, and if the fundraising “reflects or promotes behavior in support of violence.”

GoFundMe said the fundraising campaign didn’t violate their Terms of Service in the perspective of promoting violence at the time of creation.

However, they’re trying to ensure the funds will be used as intended.

“As the activity surrounding the protest evolves, we have been monitoring the fundraiser to ensure the funds are going to the intended recipients and that the fundraiser remains within our Terms of Service,” GoFundMe said in a statement.

The fundraising platform is also collecting information from the organizer regarding the use of the funds.

The organizers of the Freedom Convoy 2022 confirmed the fundraising campaign is part of their movement during a Thursday press conference.

Tamara Lich, one of the organizers of Freedom Convoy 2022, said that they have sent all information requested by GoFundMe.

“This morning our lawyer sent GoFundMe all the details that they have asked for. I am confident that GoFundMe now has all the information needed to immediately lift the suspension they put on our campaign,” she said.

“I am hoping to hear from GoFundMe soon so that we can get the money to the truckers and keep our protest for freedom moving forward,” she added.

The Epoch Times could not verify that Lich is the same person who launched the GoFundMe campaign.

GoFundMe confirmed Tuesday that the fundraising campaign created for truckers protesting against the various COVID-19 mandates and restrictions across Canada is the country’s second-largest ever on its platform, with donations reaching over CA$10 million.

After the Public Health Agency of Canada’s announcement that foreign truck drivers can only enter Canada if fully vaccinated starting Jan. 15, and the U.S. Occupational Safety and Health Administration (OSHA) announcing similar requirements starting Jan. 22 for non-U.S. national truckers crossing into the United States, thousands of truckers decided to protest and meet in Ottawa in an attempt to stop the mandates.

Truckers in west Canada started mobilizing on Jan 23.

As the record-breaking convoy passed through different cities, they were greeted with throngs of people cheering and holding Canadian flags, with some shooting off fireworks.

U.S. truckers started joining the protest soon after the creators of Freedom Fighter Nation, attorney Leigh Dundas and her personal assistant Maureen Steele, heard the news and started organizing in the United States.

end

New HIV strain found in the Netherlands: Highly infectious variant makes people ill twice as quick | Daily Mail Online

Inbox

Robert Hryniak	12:50 PM (3 minutes ago)
to

Did not take long.

https://www.dailymail.co.uk/health/article-10473495/New-HIV-strain-Netherlands-Highly-infectious-variant-makes-people-ill-twice-quick.html

Cheers
Robert

END

Air Travel Is Russian Roulette: Pilots At Risk, Flying Public In Imminent Danger

Inbox

Robert Hryniak	12:44 PM (2 minutes ago)
to

Cheers
Robert

END

Special thanks to Neil for sending this to us:

BC officials admit to overstating covid hospitalizations

Inbox

Neil Alho	11:19 AM (46 minutes ago)
to bcc: me

It is kind of interesting that they are admitting it…

Also interesting the majority of people in BC are vaccinated but covid persists… kind of telling how effective this effort has proved to be.

B.C. admits that half of “COVID hospitalizations” aren’t because of COVID

I think its high time to do what a number of countries around the world are doing – dropping the mandates – and letting freedom reappear!!

…go truckers…

Neil

END

12 Countries Roll Back COVID Restrictions, Israel Scraps ‘Green Pass’ • Children’s Health Defense

Inbox

Robert Hryniak	10:01 AM (0 minutes ago)
to

A step in the right direction if economies are to recover. The lockdowns and the like have created multiple shortages everywhere which are driving up costs causing rising prices ( inflation) and has nothing to do with speculation. Speculation is usually what causes inflation and is tempered by rising interest rates.
Even if interest rates rise they will do nothing to stem rising prices until supply chains are rebuild or re-established. At least freedoms will return i some countries which will make visiting or creating business more likely.

12 Countries Roll Back COVID Restrictions, Israel Scraps ‘Green Pass’

VACCINE IMPACT

Whistleblower: Gunshot Wounds, Baby Deliveries, Car Accidents All Being Coded as “COVID” in Hospitals to Keep Federal Funding FlowingFebruary 3, 2022 6:41 pmMore evidence is surfacing showing that hospitals today are still collecting federal funds as an incentive to diagnose patients with “COVID” via a PCR Test, even if the patient was brought to the hospital with gunshot wounds, or to have a child, or from a car accident. Project Veritas released a video yesterday of a whistleblower, Jeanne Stagg, who was working as a Senior Administrative Nurse at United Healthcare in Louisiana. She came forward to expose the fraudulent practices still going on in hospitals today where people who have no symptoms of COVID come into the hospital, such as from gunshot wounds, or to have a baby, or because they were in a car accident, and are then tested positive for COVID and coded as a “COVID patient” when they are admitted to the hospital. This releases federal funding that financially benefits the hospitals, but can literally kill the patient because they get the wrong treatment. And to demonstrate how this is happening, a man has just come forward to give his testimony in public about how he was in a car accident, where EMS ambulance services arrived on the scene and sedated him against his will, air lifted him to a hospital allegedly in Tucson, Arizona, and he woke up 8 hours later on a ventilator because he was diagnosed as a “COVID” patient. He was all alone in his room when he woke up, so he took himself off of the ventilator, removed the IV and catheter, and demanded to be released from the hospital. He considers himself lucky to be alive today.Read More…Attorneys Report Medical Kidnappings of Adults Diagnosed with COVID are IncreasingFebruary 3, 2022 6:58 pmAttorneys around the country report an alarming uptick in calls for help from families of patients hospitalized with COVID-19. Some say they’ve talked to family members who were arrested after trying to visit a loved one or to speak with a doctor after communications with the hospital were cut off. Attorneys told The Epoch Times about a wide variety of instances of what they call abuse, including hospitals preventing visits from family, failing to provide nutrition and fluids, and coercing patients to agree to treatments they’d already refused multiple times—such as being placed on a ventilator. Gainesville, Florida, attorney Jeff Childers has been so alarmed by the cases he’s seen, he posted a tutorial online with tips on how to navigate the legalities surrounding hospitalization with COVID-19. Childers warns that he’s not a doctor and that he’s not offering medical advice. When his office gets calls from concerned family members, the patient in question is already on a ventilator and the family is desperately concerned about treatment. “In many cases, the hospitals have refused to release the patient, citing their unstable condition, meaning that at some point it can become impossible to get off the COVID express,” Childers wrote in his blog. “The most common complaints we get include that patients are being pressured to accept Remdesivir, have been given Remdesivir even though they objected to it, or the hospital will not administer alternative widely-used treatments even though the patient is in critical condition where side effects are less risky than imminent death. I have personally seen hospitals spend tens of thousands of dollars on lawyers to keep patients in their facility.”Read More… Occupy Ottawa Day 6: Truckers at Alberta-Montana Border Decide to Relocate their Protest to Edmonton at Premier Jason Kenney’s PlaceFebruary 3, 2022 7:33 pmThe Trucker Freedom Convoy in Ottawa, Canada entered its 6th day today, as rumors spread that the Ontario Government might call in the military this weekend as crowds are expected to swell. Meanwhile, Rebel News is reporting that the standoff at the Alberta-Montana border is ending, and that the protesters, which include not only Truckers now but also farmers driving heavy farm equipment, are relocating to Edmonton, Alberta, at the home of Premier Jason Kenney.Read More…

Sophia Media, LLC

Michael Every

on the major topics of the day

Michael Every…

Rabo: Markets Are Wishing For A Negative Payrolls Number To Stop The Fed Wipe-Out

FRIDAY, FEB 04, 2022 – 08:21 AM

By Michael Every of Rabobank

“Fun” and Games

The US says Russia is making a detailed fake news video showing a digital mock attack against ethnic Russians in east Ukraine, with explosions and mass casualties, to act as a casus belli. We already had allegations of a Kyiv coup. Now Russia is apparently going to “вилять собакой“ – wag the dog. No evidence of this was produced, itself producing a reference to ‘Alex Jones’-style news from the Associated Press at a White House Q&A.

Oil prices jumped – and so they should. Either the US allegation is true, and Russia wants a war via fake news; or it isn’t, and the US wants a war (**cough** Gulf of Tonkin** cough **Iraqi WMD** cough) via fake news about fake news; or, the US is so incompetent it is likely to get a war anyway. As another 1,700 US paratroopers fly from Fort Bragg to Europe, Russia says it is justified in responding in kind. (Which it has been doing on massive scale well in advance.)

The irony is this narrative takes place on the same day a social media giant’s shares collapsed due to it placing its bets on everybody wanting to walk around in a fake digital reality. When I saw the latest video trying to sell this head-scratching headsettery, I genuinely thought it was a brilliant parody. Yet, as I have noted before, real life is now parodying itself better than anyone can. It’s all darkly amusing – until the shooting starts. On which, the financial press and mega corporate sponsors will now try to refocus our attention on starting pistols: welcome to a glorious celebration of sport and the Olympic spirit that has nothing to do with politics.

The US Olympic Committee president argues “politics has no place in sport”, supporting the games being held where they are, despite initial doubts. Sorry, that was Avery Brundage in 1936. The 2022 games will see lots of political questions; Covid lockdowns; IOC Chair Bach meet Peng Shuai; European athletes not taking their own electronics amid questions over the official app; several Western nations sticking with a diplomatic boycott; Nancy Pelosi –finding time in-between a busy day of stock-trading– warning, “I would say to our athletes, you are there to compete. Do not risk incurring the anger of the Chinese government because they are ruthless.”; and China picking a solider who survived fatal clashes with the Indian Army as a torch bearer. So, no, no politics at all.

Western media point out if Beijing 2008 was a case of “Here I am” to the world, Beijing 2022 is “Here I am, like it or not”. Even Bloomberg can see a huge slice of the leaders joining Xi Jinping today are from undemocratic countries, and the Guardian that: “When the leaders of China and Russia meet in Beijing this Friday shortly before the opening ceremony of the Winter Olympics, observers of the bilateral relationship will be looking for insights into how this 21st century quasi-alliance is reshaping the post-war world order.” The two are already working to create sanctions-resistant financial infrastructure. Of course, the New York Times and Amazon Post are more balanced about this all, because “anti-US imperialism”; and The Economist has a ‘Chaguan’ column urging the US to push Taiwan to negotiate a settlement with Beijing, even if it means rolling back its democracy.

While the Great Games play out in the background –e.g., Israel and Bahrain signing a defence agreement(!)– central banks are trying to maintain ‘Cool Runnings’. Yet all their bobsleighs are likely to end up like this one.

The Bank of England raised rates 25bp, the first back-to-back hike since 2004, and some members flirted with 50bp(!), while it also started to wind down QE. On the same day fuel bills jumped; just ahead of a leap in National Insurance payments; with food prices set to soar as well; and while warning of the largest fall in living standards for 30 years. (AND before the British public note the new crisis unfolding over Northern Ireland border again.) Faisal Islam of the BBC reports the following exchange with the BOE Governor:

Islam: “Are you trying to get into people’s heads and ask them not to ask for too high a pay rise?”

Bailey: “Broadly, yes.”

Islam: “Really?”

Bailey: ”We do need to see a moderation of wage rises…that’s painful.”   

What happened to Build Back Better and Levelling Up? What happened to all the new central bank thinking about political economy that Covid was supposed to prompt? As football fans sing at referees from the terraces: “You don’t know what you’re doing!” And clearly the BOE doesn’t: full year GDP growth for 2022 is now seen at 3.75% vs. 6% prior to their November meeting. Is this down to Omicron, as restrictions are lifted? Or a fake (fake) Russian video? Stefan Koopman’s follow-up here notes if tight monetary policy is used to weaken the current upward pressure on wages, it may be enough to tip the economy back into a recession. He forecasts another 25bp hike rate as soon as the next meeting, before the MPC perhaps then decides it’s best to re-assess. And meanwhile PM BYO is bleeding key staff as the fans also chant “Who ate all the cake?”

The ECB left rates on hold but President Lagarde, with all the verbal dexterity of an elephant on ice, managed to generate a market response almost equivalent to a rate hike regardless. As Elwin de Groot and Bas van Geffen note in their ECB coverage, Lagarde asked “Can we not remove this?” at the start of the press conference, referring to a small barrier that separated the stage from the photographers. For some, this referred to monetary accommodation too; and for others to the “Do I not like that?” of one of the most infamous football managers to ever have “You don’t know what you’re doing!” shouted at them. In short, the January inflation data appears to have struck a nerve; Lagarde did not repeat that a 2022 hike is “unlikely”, marking a hawkish tilt; the ECB has kept all options open for March, but a more formal pivot seems likely; and this again raises the odds of a policy error

Markets now find themselves in the strange position of waiting for US payrolls today and wishing for a negative number, following the ADP, to try to at least stop the Fed from its own ‘Cool Runnings’ wipe-out. Even if that number is fake news, they will take it. Even if that means D.C. will start pushing for further stimulus cheques in a US economy seeing worse logistics/supply-chain problems than a few months ago. (Despite the central banks who didn’t see inflation coming last year saying this would resolve itself as things magically do.)

But skate back and see that this isn’t about near-term rate policy. Hike, and face supply-side inflation and recession. Don’t hike, and face supply-side inflation, then demand-side inflation, and then more hikes, then recession. By some miracle, if that doesn’t happen, you end up with greater socioeconomic polarisation and accelerated collapse of trust in all (economic?) institutions. That’s the consequence of decades of failed thinking and architecture. I once called it ‘Thin Ice’ we could fall through. Now I see it like thick layers of snow that risk tumbling down on us in an avalanche – and that’s before we get to the risk of very loud bangs in Ukraine triggering this process faster than assumed.

Happy Friday.

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 FRIDAY morning 7:30 AM

Euro/USA 1.1461 UP .0026 /EUROPE BOURSES //ALL RED   

USA/ YEN 114.90  DOWN  0.058 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3554  DOWN   0.0053

 Last night Shanghai COMPOSITE CLOSED LUNAR HOLIDAY

 Hang Sang CLOSED//UP 771.03 PTS OR 3.24%

AUSTRALIA CLOSED UP 0.60%   // EUROPEAN BOURSES OPENED ALL RED 

Trading from Europe and ASIA

I) EUROPEAN BOURSES ALL RED   

2/ CHINESE BOURSES / :Hang SANG  CLOSED I[ 771.03 PTS OR 3.24%

/SHANGHAI CLOSED HOLIDAY

Australia BOURSE CLOSED UP 0.60%

(Nikkei (Japan) CLOSED UP 198.68 PTS OR 0.73%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1812.95

silver:$22.55-

USA dollar index early FRIDAY morning: 95.26  DOWN 12  CENT(S) from THURSDAY’s close.

THIS ENDS FRIDAY MORNING NUMBERS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing FRIDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.97%  UP 9  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +0.201% down 2 AND 1/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 1.05%// UP 10   in basis points yield from yesterday.

ITALIAN 10 YR BOND YIELD 1.74 UP 9    points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 69 points higher than Spain.

GERMAN 10 YR BOND YIELD: RISES TO +0.204% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.54% 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 FRIDAY  

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

Euro/USA 1.1449  UP .0014    or 14 basis points

USA/Japan: 115.24 DOWN 0.288 OR YEN DOWN 288  basis points/

Great Britain/USA 1.3546 DOWN 52  BASIS POINTS

Canadian dollar DOWN 81 pts to 1.2760

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)..6.3639

TURKISH LIRA:  13.57  EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.

the 10 yr Japanese bond yield  at +0.201

Your closing 10 yr US bond yield UP 9  IN basis points from THURSDAY at 1.928% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

 USA 30 yr bond yield: 2.221 UP 6 in basis points 

Your closing USA dollar index, 95.48  UP 10   CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED DOWN 12.44 PTS OR 0.57%

German Dax :  CLOSED DOWN 268.91 points or 1.75%

Paris CAC CLOSED DOWN 54.25PTS OR  0.77% 

Spain IBEX CLOSED DOWN 96.70PTS OR 1.11%

Italian MIB: CLOSED DOWN 485.37 PTS OR 1.79%

WTI Oil price 92.64    12: EST

Brent Oil:  93.39  12:00 EST

USA /RUSSIAN /   RUBLE RISES:   76.02 THE CROSS LOWER BY  24 RUBLES/DOLLAR (RUBLE HIGHER BY 24  BASIS PTS)

GERMAN 10 YR BOND YIELD; +.204

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.1456 UP  .0021   OR 21 BASIS POINTS

British Pound: 1.3533 DOWN  .0065 or 65 basis pts

USA dollar vs Japanese Yen: 115.21 UP .248

USA dollar vs Canadian dollar: 1.2747 UP .0069 (cdn dollar DOWN 69 basis pts)

West Texas intermediate oil: 92.22

Brent: 93.20

USA 10 yr bond yield: 1.928 UP 9 points

USA 30 yr bond yield: 2.232  UP 8  pts

DOW JONES INDUSTRIAL AVERAGE: DOWN 21.42 PTS OR 0.061%

NASDAQ 100 UP 193.24 OR 1.33%

VOLATILITY INDEX: 23.23 DOWN 1.12 PTS (DOWN 4.60.%

GLD/NYSE CLOSING PRICE $168.85 UP $0.25 OR 0.15%

SLV/NYSE CLOSING PRICE: $20.80// UP $.09 OR 0.41%

end)

USA trading day in Graph Form

Cryptos Jump, Stocks Slump As Bonds & The Dollar Dump

FRIDAY, FEB 04, 2022 – 04:01 PM

As we transitioned from January to February, stocks soared higher as monthly flows were anticipated and op-ex overhangs were wrung out. But, as the week went on and NFLX and FB were clubbed like a baby seal (only to redeemed minimally by AMZN), dip buyers jumped back in and AMZN’s gains rescued investors from more pain.

Today was a wild day with AMZN’s strength underlying and the good-news-bad-news payrolls data being shrugged off, leaving Nasdaq up 2% and all the majors in the green into the last 30 minutes… then a wave of selling pressure hit all the majors and actually managed to push The Dow into the red for the day…

On the week, The Dow and S&P managed to get back into the green while Small Caps and Big-Tech languished in the red. The late-day puke (ETF redemptions?) actually left all the majors in the red for the week…

S&P and The Dow bounced off their 200DMAs today…

Notably, despite the surge in rates this week, growth outperformed value…

Source: Bloomberg

A massive divergence in the FANGMAN group over the last couple of weeks…

Source: Bloomberg

And in case you wondered just how it is that stocks like FB and PYPL can eviscerate market cap like this, here is SpotGamma to explain…

The week was dominated by Monday and Tuesday’s flows enabling a huge short-squeeze…

Source: Bloomberg

While the major indices bounced today (thank you AMZN), the median US stock is hovering back near its lowest levels since Feb 2021…

Source: Bloomberg

Bonds bloodbath’d this week with the entire curve up between 15 and 17bps…

Source: Bloomberg

Rate-hike expectations surged again today after the ‘good’ news from BLS on the surprise labor market gains. March is now pricing a 45% chance of a 50bps hike and December is now pricing in a 40% chance of a 6th rate-hike by year-end…

Source: Bloomberg

And while STIRs shifted hawkishly, the yield curve shouted at The Fed to stop, flattening significantly and signaling policy error problems right ahead…

Source: Bloomberg

It wasn’t just US bonds that bloodbath’d – as the rest of the world scrambled to catch up as they realize that Central Bankers are serious this time…

5Y Bund yields went positive…

Source: Bloomberg

UK STIRs shifted very hawkishly…

Source: Bloomberg

And JGBs touched the top of their yield curve control corridor…

Source: Bloomberg

Real yields continued to surge higher this week with 30Y real yield is back above 0…

Source: Bloomberg

And if real yields are right, then stocks have a long way to go before reality is met…

Source: Bloomberg

This was the worst week for the USDollar (against its fiat peers) since Nov 2020 (the election week), erasing all of last week’s post-FOMC spike gains and more…

Source: Bloomberg

Cryptos had a big week with Ethereum leading the way…

Source: Bloomberg

Bitcoin bounced back above $40k today (and Ether pushed up to almost $3,000)…

Source: Bloomberg

Will it or won’t Ethereum manage closing above the negative trend channel? Key for further upside is to close above the 3k for starters. The 50 day is still way up at 3300. Interesting to note is the pick up in ETH skew, especially the short maturity. People starting to believe in some ETH bull again?

Source: Bloomberg

Commodities were higher this week led by Crude (and copper)…

Source: Bloomberg

Every time gold was hammered back below $1800, a bid appeared…

WTI rallied above $93 today, its highest since Oct 2014…

Soaring oil prices mean that President Biden is in trouble as gas prices are about to explode…

Source: Bloomberg

But then again, President Biden just suffered the ‘death cross’, dropping below Trump’s approval rating for the same time in his term…

Source: Bloomberg

Finally, judging by credit markets and real yields, there’s a lot further to go in this downswing…

Source: Bloomberg

And right as the central bankers’ nemesis strikes the world – Stagflation…

Source: Bloomberg

Get back to work Mr.Powell, Bailey, Kuroda and Ms. Lagarde! We leave you with one remark (from Nomura’s Charlie McElligott) that all should reflect on as the equity market bounces…

“…there is an overhead “lid” on Equities, where the Fed is effectively shorting Calls / upside because anytime US Equities rally higher substantially higher, US FCI eases… and that’s exactly when we have to anticipate them to “up” their “hawkish” messaging.”

Trade accordingly.

I)  MORNING/AFTERNOON TRADING/

FOMC

NUMBERS ARE GARBAGE!

January Payrolls Huge Beat, Soaring 467K As December Revised Massively Higher; Earnings Overheating

FRIDAY, FEB 04, 2022 – 08:37 AM

So much for all those hoping that January payrolls would be a huge miss (due to Omicron or not) and perhaps slow the Fed’s rate hike intentions: moments ago the BLS unleashed a two-for-one shock when it unveiled that not only did January payrolls print at a huge 467K, almost four times higher than the 125K expected (and as a reminder, Goldman expected -250K)…

… but the BLS also revised December payrolls from 199K to 510K. And there’s more: as part of the BLS’s annual revisions, November was revised from 249K to 647K. This means that the previous two months revisions were 709K higher! A quick look at the historical adjustments shows that covid may have never happened with every month rising on average about 500K!

The print was a 3-sigma beat relative to expectations. Putting it in context, not a single analyst out of 78 expected a number anywhere close to this and in fact the print came in at double the highest forecast.

And here is BLS explaining that it got the tap on the shoulder:

In accordance with usual practice, the seasonal adjustment models are updated as part of the annual benchmark process. As a result of the updates, there were some large revisions to seasonally adjusted data that mostly offset each other. (See the note at the end of this news release and table A for information about the revisions, the annual benchmark process, and the seasonal adjustment model updates.)

Ridiculous payroll revisions aside (and we will have more to say on this shortly) the unemployment rate rose modestly from 3.9% to 4.0%, above the consensus expectations of an unchanged number.

The participation rate also jumped, rising from 61.9% to 62.2%, beating expectations of an unchanged print…

… and in keeping with the maximum employment theme, undermployment is now at pre-covid levels.

While it is unclear how credible any of this data is now, it is also worth noting that average hourly earnings also came in far hotter than expected, with  average hourly earnings rising 0.7% M/M (more than the expected 0.5%) and 5.7% Y/Y, smashing expectations of 5.2%.

Some more notable highlights from the highly questionable report:

• In January, the share of employed persons who teleworked because of the coronavirus pandemic increased to 15.4 percent. These data refer to employed persons who teleworked or worked at home for pay at some point in the 4 weeks preceding the survey specifically because of the pandemic.
• In January, 6.0 million persons reported that they had been unable to work because their employer closed or lost business due to the pandemic–that is, they did not work at all or worked fewer hours at some point in the 4 weeks preceding the survey due to the pandemic. This measure is considerably higher than the level of 3.1 million in December. Among those who reported in January that they were unable to work because of pandemic- related closures or lost business, 23.7 percent received at least some pay from their employer for the hours not worked, up from the prior month.
• Among those not in the labor force in January, 1.8 million persons were prevented from looking for work due to the pandemic, up from 1.1 million in the prior month. (To be counted as unemployed, by definition, individuals must be either actively looking for work or on temporary layoff.)

Here is the breakdown by industry:

• Leisure and hospitality employment expanded by 151,000 in January, reflecting job gains in food services and drinking places (+108,000) and in the accommodation industry (+23,000). Since February 2020, employment in leisure and hospitality is down by 1.8 million, or 10.3 percent.
• Professional and business services added 86,000 jobs. Job gains occurred in management and technical consulting services (+16,000), computer systems design and related services (+15,000), architectural and engineering services (+8,000), and other professional and technical services (+7,000). Employment in temporary help services continued to trend up (+26,000). Employment in professional and business services is 511,000 higher than in February 2020, largely in temporary help services (+185,000), computer systems design and related services (+161,000), and management and technical consulting services (+151,000).
• Retail trade employment rose by 61,000 in January. Job growth occurred in general merchandise stores (+29,000); health and personal care stores (+11,000); sporting goods, hobby, book, and music stores (+7,000); and building material and garden supply stores (+6,000). Retail trade employment is 61,000 above its level in February 2020.
• Employment in transportation and warehousing increased by 54,000 in January and is 542,000 higher than in February 2020. In January, job gains occurred in couriers and messengers (+21,000), warehousing and storage (+13,000), truck transportation (+8,000), and air transportation (+7,000). All four of these component industries have surpassed their February 2020 employment levels, with particularly strong growth in warehousing and storage (+410,000) and couriers and messengers (+236,000).
• Employment in local government education rose by 29,000 in January but is down by 359,000, or 4.4 percent, since February 2020.
• Employment in health care continued to trend up (+18,000) over the month but is down by 378,000, or 2.3 percent, from its level in February 2020.
• Wholesale trade added 16,000 jobs in January, with gains in both durable goods (+11,000) and nondurable goods (+8,000). Employment in wholesale trade is 125,000, or 2.1 percent, lower than in February 2020.

Commenting on the report, Bloomberg notes that “there is something for everyone here — bond bears can point to strong headline growth and wages, while low-rate apologists can cite the increase in participation as a sign that supply is coming back to the labor market. How we square that rise in participation with the anecdotal evidence of people sitting out their jobs because of Covid is a question for the statisticians.”

The market reaction has been to take the headline and wage growth at face value, though the reaction seems a bit extreme given the reliability of the data. I’d also perhaps think that the Fed will be overt in welcoming an increase in the participation rate, so would be a little leery of selling the front end into a hole.

As noted above, the big delta with the expectations was the seasonal adjustment, and as Pierpont says the omicron impact can be seen if you take out the benchmark revisions from the household survey data:“If we exclude the impact of the annual revision, the January readings would have been -137K for labor force and -272K for household employment.”

end

Here is why the numbers today are garbage

(zerohedge)

Here Is What’s Behind Today’s Stunning Payrolls Beat

FRIDAY, FEB 04, 2022 – 10:18 AM

For those who only look at headlines, today’s payrolls report was a veritable shock: coming in at 467K, it was almost 4x the consensus median expectation of 125K, and was orders of magnitude above Goldman’s forecast  of -250K. Putting the stunning, 3-sigma beat in context, it came above all 78 estimates, and was more than double the highest forecast of 225K from HSBC. Even more ludicrous were historical adjustments which saw December increased from 199K to 510K, November from 249K to 647K and so on.

How is that possible?

After all even CNBC – while interviewing labor secretary Marty Walsh – couldn’t believe the BLS data, prompting the secretary to repeat on many occasions that the numbers are “credible” and he “stands behind them” and of course he will: after all, taken at face value the numbers signal a resilient labor market and demand for workers despite omicron’s hit. The gains were broad-based, spanning retail, hospitality, transportation and warehousing, business services and others. In short, contrary to data from even the Atlanta Fed whose GDPNow shows Q1 GDP rising just 0.1%, the labor data indicates an economy firing on all cylinders and growing strong.

But is that true?

Well, here’s what happened. First, looking at just the December to January change we find that while the seasonally adjusted number rose by an impressive 467K, the unadjusted number collapsed, tumbling from 150.349 million to 147.525 million, a 2.8 million drop (as it tends to do every time the year shifts from December to January) meaning that the entire delta in the January number – somewhere in the 3+ million range – is due to arbitrary adjustments overlaid on top of the data.

The plot thickens, and indeed one thing that analysts apparently forgot when they were submitting their forecasts for January’s payrolls is that this is the month when the BLS adjusts data for the past 10 years as part of its population estimates revisions, which impact both the Household and more important, Establishment, surveys.

In summary, what these revisions did was to revise 2017 job growth lower by by -61,000, 2018 lower by -26,000, 2019 revised lower by -43,000, while 2020 was revised higher by 124,000, and 2021 was also revised up 217,000, or in total a 211,000 upward revision over 5 years or 3,500 jobs per month.

Focusing on just 2021, we find something curious: the stunning print from the summer which saw June and July print at or over 1 million, have been slashed by almost 50%, at the expense of most recent months such that October added 29K, November added 398K and December added 311K jobs to what was the original print only as a result of seasonal adjustments. Said otherwise, March-July was revised lower by -1,061,000 while Aug-Dec was revised up by +817,000.

At this point the answer what is behind the massive January beat should be becoming clear: how did a -2.8 million actual drop in jobs translate into an adjusted 467K? If you said seasonal, covid and population control adjustments, you are right. And to be sure, this is something both we and others flagged, when we lamented that month after month, the BLS appeared to be using stale seasonal adjustments.

But digging deeper shows that this was not just an ordinary seasonal adjustment.

As SouthBay Research notes in his NFP postmortem, “there has never been a January Seasonal Adjustment of this magnitude” and visually:

If only normalizes the January seasonal adjustment, the payrolls number is some 309K lower, or ends up being 166K, right on top of expectations.

The seasonal adjustment for Private payrolls was even more ridiculous:

Where it gets even more bizarre, is that as SouthBay notes, January’s Private NFP (NSA) of -2391K was almost exactly the 10-year and 20-year median 2384K. So why the BLS is applying such a grotesque seasonal adjustment to it, is unclear (actually, if one assumes that the Biden admin tapped the BLS secretary on the shoulder, then it is very clear).

It’s not just outside analysts who reach this conclusion: in Table C to its report, the BLS showed “December 2021-January 2022 changes in selected labor force measures, with adjustments for population control effects” and confirmed that if one had used an apples-to-apples basis for the January numbers, the number of Employed workers (from the Household Survey) would be down -272K. Instead, thanks to the population control effect adjustment of 1.471 million, the final number was 1.199 million!

In summary, while the markets had been trading for months on fake data when the BLS failed to catch up to covid reality, and was applying stale seasonal adjustments, they are doing so again today, only in the opposite direction with the BLS now overextending itself in the opposite direction, with a January seasonal adjustment that has never been greater!

So for those who feel like discounting the Seasonally Adjusted data, please do: the bizarre Seasonal Adjustment that created distortion and distorted the underlying trend for much of 2021 is back, only now it’s in the other direction.

What is the take home message? It’s two fold:

• First, we can effectively ignore covid’s effect going forward. As Southbay notes, “It would appear that COVID is no longer a brake on employment or on the economy” which is good news: the end of the artificial covid restrictions couldn’t come too soon.
• Second, while the January report was stellar, its all downhill from here, because “January’s win is a loss for February payrolls” or put otherwise, this month’s strong payrolls will come at a price: i) Seasonal Adjustment will unwind – reducing payrolls in future months and ii) Seasonal workers will be laid off, resulting in a roughly 100K downside to February and/or subsequent months.

Stocks & Bonds Slammed On ‘Good News’ Payrolls Surprise

FRIDAY, FEB 04, 2022 – 08:43 AM

All the exuberant AMZN-driven gains overnight in US equity futures have evaporated after the much-better-than-expected payrolls print sparked ‘good news is bad news’ selling pressure this morning…

And with the last big hurdle ahead of Fed hikes now lifted, bond yields are also spiking…

The 30Y Real yields just went positive for the first time since June 2021…

The dollar spiked on the ‘hawkish’ headlines…

The market is now pricing in a 35% chance of 50bps hike in March…

So will it be 25bps or 50bps in March?

end

II) USA DATA

IIb) USA COVID/VACCINE MANDATE STORIES

Said by Tony Fauci Feb 4/2020 on masks. He then told the truth:

Ian Miller/Brownstone/Fauci

When Fauci Told The Truth About Masking

FRIDAY, FEB 04, 2022 – 03:21 PM

Authored by Ian Miller via The Brownstone Institute,

On February 4, 2020, just a month before his 60 Minutes interview, and two months before the CDC, with Fauci’s support, changed their mask guidance, he received an email from Sylvia Burwell, who had previously worked as a secretary of Health and Human Services under President Obama. 

Burwell asked Fauci if she should bring a mask with her while traveling, to which he responded:

“Masks are really for infected people to prevent them from spreading infection to people who are not infected rather than protecting uninfected people from acquiring infection.”

More importantly, he gave her one of the many scientifically based reasons why it wasn’t necessary,

“The typical mask you buy in the drug store is not really effective in keeping out virus, which is small enough to pass through the material. It might, however, provide some slight benefit in keep[ing] out gross droplets if someone coughs or sneezes on you. I do not recommend that you wear a mask…” 

There are several key points to highlight about his response, beginning with his statement that masks are not meant to provide protection to the wearer. Although this is consistent with the initial recommendation for the public to wear masks as a form of “source control,” the CDC and Fauci maintained that asymptomatic spread was the reason for recommending universal masking. But as previously noted, asymptomatic spread is incredibly rare to nonexistent. 

If symptomatic individuals or those in the very early stages of showing symptoms are responsible for the overwhelming majority of spread, as multiple studies suggest, masks were never going to be effective at preventing asymptomatic cases from spreading to others. The new recommendations were doomed to fail as soon as they were implemented. 

Secondly, and most notably, Fauci gave a specific explanation of the inherent flaws of masks purchased by the general public: that the virus is too small and passes right through the material. This sentence alone illustrates the inescapable contradiction to his later statement on the lack of supply as his initial hesitation to recommend masks. His immediate reply, based presumably on scientific evidence that he had seen and reviewed, was that masks do not work against viruses. 

His assertion that masks might provide some slight benefit against droplets caused by coughing and sneezing is precisely the same argument used by the CDC and others to justify masking, but his previous statement negates that line of thinking entirely. If masks stop some droplets but the virus is too small to be blocked, lab experiments purporting to prove mask efficacy are functionally useless. Mechanistic laboratory simulations using mannequins wearing masks to show how well they stop droplets are measuring the wrong thing entirely. 

Dr. Fauci knew pre-April 2020 that stopping droplets, the only thing that masks might potentially accomplish, won’t help due to the size of virus particles. He said nothing about ensuring supply for health care workers, who would need masks for protection in their duty as frontline providers treating COVID patients. He simply stated that masks are ineffective. 

Conclusively, his final comment forcefully restated his point, “I do not recommend that you wear a mask.”

That sentiment sums up what Fauci knew about masking, and that is exactly what he said when questioned on 60 Minutes.

Up until the CDC changed their guidance, Fauci’s thinking was entirely consistent. Then, suddenly, and without any significant shift in evidence base, his opinion dramatically flipped. 

How can we be so sure that the evidence base didn’t change?

Well, because Fauci’s emails cover that as well. On March 31, just a few days before the CDC’s new recommendation for universal masking, he received an email from Andrea Lerner, another employee at NIAID and the National Institutes of Health. 

Lerner confirmed what the entire scientific community already knew; there was no evidence that masking reduced transmission of influenza-like illnesses:

“In addition, I found the attachedd [sic] review on masks that addresses use in the community settings. Attached are the paper and figure 3, which summarizes the data from 9 very diverse RCTs (overlapping with what I had sent earlier). Bottom line [sic]: generally there were not differences in ILI/ URI/or flu rates when masks were used…” 

Fauci knew masks didn’t work to prevent illnesses like COVID. He knew that the evidence on masks hadn’t changed because one of his top employees confirmed that there was no positive impact from masking based on the gold standard of scientific research, randomized controlled trials.

On March 31, Fauci was sent that email, confirming that his statements on March 8 to 60 Minutes were scientifically correct, yet on April 3, he and the CDC, with no new evidentiary basis, recommended universal masking. 

The impact of that decision, based on an inaccurate assumption of asymptomatic spread and a purposeful disregard for the evidence, fundamentally changed the country. Masks became a political and cultural flash point, prompting endless inaccurate information from the media, embarrassingly poor-quality studies from scientific institutions attempting to prove they worked, and their supposed efficacy was used to justify putting children as young as two years old in masks indefinitely. 

*  *  *

This is an except from the author’s new book: Unmasked: The Global Failure of Covid Mask Mandates.

END

We expected this: a huge spike in calls for help from families of patients hospitalized with COVID 19.  Hospitals are just ignoring them as they feed expensive, useless but harmful Remdesivir.

(Holt/EpochTimes)

Attorneys Report Spike In Calls For Help From Families Of Patients Hospitalized With COVID-19

THURSDAY, FEB 03, 2022 – 07:00 PM

Authored by Nanette Holt via The Epoch Times (emphasis ours),

Attorneys around the country report an alarming uptick in calls for help from families of patients hospitalized with COVID-19.

Some say they’ve talked to family members who were arrested after trying to visit a loved one or to speak with a doctor after communications with the hospital were cut off.

Attorneys told The Epoch Times about a wide variety of instances of what they call abuse, including hospitals preventing visits from family, failing to provide nutrition and fluids, and coercing patients to agree to treatments they’d already refused multiple times—such as being placed on a ventilator.

Gainesville, Florida, attorney Jeff Childers has been so alarmed by the cases he’s seen, he posted a tutorial online with tips on how to navigate the legalities surrounding hospitalization with COVID-19.

Childers warns that he’s not a doctor and that he’s not offering medical advice.

When his office gets calls from concerned family members, the patient in question is already on a ventilator and the family is desperately concerned about treatment.

“In many cases, the hospitals have refused to release the patient, citing their unstable condition, meaning that at some point it can become impossible to get off the COVID express,” Childers wrote in his blog.

“The most common complaints we get include that patients are being pressured to accept Remdesivir, have been given Remdesivir even though they objected to it, or the hospital will not administer alternative widely-used treatments even though the patient is in critical condition where side effects are less risky than imminent death.

I have personally seen hospitals spend tens of thousands of dollars on lawyers to keep patients in their facility.”

Childers was one of the attorneys who took on Mayo Clinic Florida in court hoping to help the family of Daniel Pisano try medications they believed would help him. Mayo Clinic attorneys fought back vigorously.

The Pisano family also had tried to arrange to transfer the 70-year-old grandfather and businessman to a hospital where he could receive the medications an outside doctor had said could save him.

Pisano passed while the family was still fighting to obtain alternative medications for him.

“I call it medical kidnapping,” Childers said. “This isn’t over by a long shot,” he added, alluding to a continuation of the fight with Mayo Clinic.

Mayo Clinic Florida has not responded to repeated requests for comment on the case and hospital attorneys asked judges on multiple occasions to seal documents that would reveal their arguments.

Another hospital in Naples, Florida, had two sisters arrested when they came to the facility seeking a visit with their father or a conversation with his doctor, Jim Boatman, an attorney, told The Epoch Times. The hospital stopped responding to the family’s requests for updates on their loved one when they started asking about alternative treatments, Boatman said.

Ultimately the women, who briefly spent time in jail for the offense, decided it would put their father’s care at risk if they filed a lawsuit, Boatman told The Epoch Times.

Attorney Esther Bodek in Aurora, Colorado, also knows of a patient’s family members who were arrested when communications with a hospital went sour. She says requests from families of COVID-19 patients have flooded in since November.

“It’s traumatizing,” Bodek said, “because it is a level of civil rights abuses that I have never encountered in my entire life.”

In case after case, she’s seen a pattern of separating COVID-19 patients from their families and restricting visitation. “And during that period of time is usually when the remdesivir is administered.”

Some families coming to her for help often strenuously object to treatment with remdesivir. When other treatments have failed, they desperately want to try things the hospital won’t allow, such as ivermectin and vitamins.

Those are part of a popular protocol used by independent doctors around the country and by people treating themselves at home.

Bodek has fought many times to obtain those medications as a last-ditch effort to save a patient. She said the resistance she faces when dealing with the hospitals is maddening.

“Any question about treatment starts immediate combativeness [by hospital staff], from what I’ve seen in the pattern of our cases,” she said.

She’s had clients denied fluids and nutrition to the point of near-starvation. Since taking those cases she works night and day seven days a week.

On the weekend, “I’ll be on the phone and talking to somebody in tears,” she said. “The hospital’s telling them they want to pull the plug and they’re trying to make a decision. The doctor says, ‘We’re going to take him off life support now.’ And I’ve had to say ‘No! That’s not their choice!’”

One of her clients works in billing in a hospital and told her that hospitals receive a bonus payment of $17,000 from the federal government for every patient confirmed to have COVID-19, Bodek said. A bonus payment of $37,000 is paid for any patient going on a ventilator, according to that client, Bodek said.

“And she works in hospital billing, so she would know,” Bodek added.

The Centers for Medicare and Medicaid Services (CMS) has not responded to requests for details about payments made to hospitals for the treatment of COVID-19 patients.

Bodek’s advice: “Stay out of the hospital, no matter what. And if it happens that you’re admitted, have a medical power of attorney immediately written up to say no to remdesivir.”

She’s looking into filing civil rights violations lawsuits if claims of medical malpractice won’t work.

“I’m determined to find a way to stop this abuse,” Bodek said. “This is definitely a fight we’re not giving up.”

Omaha, Neb. attorney Gerard Forgét, who specializes in trusts and estates, contacted The Epoch Times hoping to offer similar advice for readers.

Hospitals often ask patients being admitted to sign a health-care directive or living will indicating, in advance, decisions about whether or not to be put on life support.

“I advise clients against this,” Forgét said. Signing one of those documents “vests your physician with authority that supersedes your spouse, or other family members. This can yield tragic results!”

Giving a physician that power means he or she can remove life support without consulting family, he says. “Signing that gives your physician permission to kill you!”

The problems in American health care will take a long time to correct, Childers said.

“The blessing is COVID has exposed the problems” in health care, he added. “They weren’t created by COVID. COVID showed us where they are.”

end

Shaquille O’Neal Speaks Out Against Vaccine Mandates

FRIDAY, FEB 04, 2022 – 10:59 AM

Authored by Steve Watson via Summit News,

NBA legend Shaquille O’Neal publicly declared Thursday that in his opinion no one “should be forced” to take a vaccine, and hit back at a reporter who claimed that Americans are not being made to take shots.

Speaking on his podcast, Shaq said “Look, I encourage everyone to be safe and take care of your family; I do. But there are still some people that don’t want to take it. And you shouldn’t have to be forced to take something you don’t want.”

When his CBS reporter guest Nischelle Turner tried to argue that vaccine mandates do not constitute forcing people to take the shots, O’Neal disagreed.

“It is forced. Because if the man don’t take it, the man gonna get fired,” he shot back.

Listen:

“I’m gonna probably get in trouble for this,” O’Neal added, suggesting a hypothetical situation where a fictional co-worker of “Entertainment Tonight” co-host Turner is ordered to get vaccinated.

Shaq stated “Say Nischelle, your sound guy at ‘ET’ been working there 10 years. That [job is] all you know. Let’s just say ‘ET’ puts out a new policy: If you don’t get the vaccination, you’re going to lose your job,” O’Neal said, adding that he believes it is not just for people to have choose between their livelihoods and “going against [their] morals”.

Turner said she “wholeheartedly disagrees” with O’Neal, stating “You’re not just affecting yourself, you’re putting the public at risk and it’s a public health issue.”

“You work for a private company, bro,” Turner asserted, adding “We’re a capitalist society. It’s a free market society. If you don’t want to follow that company’s policy, then you follow yourself on out the door.”

“I’m with you on the rules because I’m a rules guy,” O’Neal responded, adding “But I do feel sympathetic towards people who have to make that kind of decision.” 

“I don’t,” Turner replied “not when you’re putting other people at risk.”

end

BREAKING EXCLUSIVE: Lawrence Sellin Identifies Chinese Science Mole at the Highest Level of the National Institutes of Health (NIH)

Inbox

Robert Hryniak	2:51 PM (9 minutes ago)
to

Why are people in such positions not vetted???

BREAKING EXCLUSIVE: Lawrence Sellin Identifies Chinese Science Mole at the Highest Level of the National Institutes of Health (NIH)

Cheers
Robert

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

High input costs due to inflationary headwinds are compressing margins on all mfging companies.  Today:  Clorox:

Clorox Tumbles After “Inflationary Headwinds” Compress Margins

FRIDAY, FEB 04, 2022 – 07:50 AM

For several quarters, we have pointed out that mentions of “inflation” on corporate earnings calls have rocketed to record highs and come as management teams make the tough decision to pass-through surging commodity costs into higher prices. There’s only so much inflation that can be passed through. Otherwise, consumers will switch to cheaper brands or reduce purchases. 

Inflation is crushing the margins of companies. The latest sign comes as Clorox Co., the maker of bleaches, wipes, and other surface cleaners, reported “inflationary headwinds” were driving “cost pressures will continue through the fiscal year 2022.” It reported fourth-quarter earnings that missed analysts’ expectations and warned about margin compression. 

Soaring manufacturing, shipping, and commodity costs were to blame as gross margins plunged 1240 basis points to 33% from 45% in the fourth quarter versus a year ago. CEO Linda Rendle said additional costs are expected around $500 million. 

The consumer products company, which saw incredible pandemic-fueled demand for its cleaning products, posted a profit of 66 cents per share, versus the Refinitiv consensus of 18 cents. Its fiscal year earnings-per-share outlook is expected to be below estimates. Management warned in August about a challenging year ahead (so none of this is unexpected). 

Investors weren’t thrilled with the quarterly results. Shares of Clorox are down 13% in premarket. Year-to-date, shares are nearing a bear market, down more than 17% through Friday premarket. That’s quite the opposite compared to the S&P 500 Consumer Staples Sector index, up 21% on the year. 

Rendle noted that the company is focused on slashing costs and raising 85% of its portfolio this year. 

It appears the pandemic-fueled demand is over for its disinfectants and cleaning supplies as sales decline due mainly because Americans are over COVID-19 at the point — it’s only politicians that continue to fearmonger.

END

Why Belarus Is Becoming A Headache For Biden

FRIDAY, FEB 04, 2022 – 03:30 AM

By Cyril Widdershoven of OilPrice.com

Rocketing fertilizer prices are causing severe unrest in the American agriculture sector, with the Biden administration facing a sharp rebuke from industry leaders. The Agricultural Retailers Association, American Farm Bureau Federation, American Soybean Association, National Association of Wheat Growers, and National Corn Growers Association, the gang of five, have signed a letter condemning US sanctions on Belarussian potassium chloride (potash) for creating an almighty price spike. The letter goes on to explain that potash is a critical input for crop production, with 63% of US corn acres, 48% of its cotton acres, and 19% of its wheat acres requiring potash-based fertilizers. 

As a result, it is feared that shortages will lead to less successful harvests, cutting away at farmers’ margins and pushing up food prices for American consumers. The gang of five, as representatives of US agriculture, have called on the government to ease price pressures by removing sanctions on Belarussian potash immediately. In a nod to the gravity of the situation, recent media coverage has confirmed fears that the current crisis may cause sustained price instability.

A recent report by the Wall Street Journal (WSJ), for example, highlighted that sky-high fertilizer costs will likely lead to them being used less, resulting in smaller harvests in the future. Low yields would then feed through into higher costs not only for grain-based products such as bread and cereal but also ramping up the feed costs for livestock and poultry. American meat-eaters will certainly be displeased when the price of steak and fried chicken starts to tick up. Sensing the danger, insiders from the fertilizer industry have also raised the alarm over the current shortages of potash. 

Svein Tore Holsether, the CEO of Yara International ASA, one of the world’s largest fertilizer producers, recently cast a light on the impact of US sanctions on Belarus on the market. 

‘Belarus represents 20% of the global production of potash so clearly they are a significant supplier. If that part [potash] doesn’t make it out of Belarus, then I don’t see anyone ready to turn up the volumes’. 

The importance of Belarussian potash to global agriculture, therefore, suggests that the struggles of US farmers look set to persist. Yet if its potash is so important, why is tiny Belarus under sanctions in the first place?

Rocketing fertilizer prices are causing severe unrest in the American agriculture sector, with the Biden administration facing a sharp rebuke from industry leaders. The Agricultural Retailers Association, American Farm Bureau Federation, American Soybean Association, National Association of Wheat Growers, and National Corn Growers Association, the gang of five, have signed a letter condemning US sanctions on Belarussian potassium chloride (potash) for creating an almighty price spike. The letter goes on to explain that potash is a critical input for crop production, with 63% of US corn acres, 48% of its cotton acres, and 19% of its wheat acres requiring potash-based fertilizers. 

As a result, it is feared that shortages will lead to less successful harvests, cutting away at farmers’ margins and pushing up food prices for American consumers. The gang of five, as representatives of US agriculture, have called on the government to ease price pressures by removing sanctions on Belarussian potash immediately. In a nod to the gravity of the situation, recent media coverage has confirmed fears that the current crisis may cause sustained price instability.

A recent report by the Wall Street Journal (WSJ), for example, highlighted that sky-high fertilizer costs will likely lead to them being used less, resulting in smaller harvests in the future. Low yields would then feed through into higher costs not only for grain-based products such as bread and cereal but also ramping up the feed costs for livestock and poultry. American meat-eaters will certainly be displeased when the price of steak and fried chicken starts to tick up. Sensing the danger, insiders from the fertilizer industry have also raised the alarm over the current shortages of potash. 

Svein Tore Holsether, the CEO of Yara International ASA, one of the world’s largest fertilizer producers, recently cast a light on the impact of US sanctions on Belarus on the market. 

‘Belarus represents 20% of the global production of potash so clearly they are a significant supplier. If that part [potash] doesn’t make it out of Belarus, then I don’t see anyone ready to turn up the volumes’. 

The importance of Belarussian potash to global agriculture, therefore, suggests that the struggles of US farmers look set to persist. Yet if its potash is so important, why is tiny Belarus under sanctions in the first place?

Going back to this summer, the country’s President Alexander Lukashenko attracted global media attention after his forced grounding of a Ryanair flight carrying Roman Protasevich, a journalist. This was the flashpoint that led to Belarus’ sanctioning by the US and his antics have not gone unrecognised by the American agricultural sector.  Indeed, in their aforementioned letter to the US government, the gang of five emphasize that they ‘support efforts to hold the Belarussian Government accountable for violations of international norms’.

However, the letter also repeats the argument that the current restrictions on Belarussian potash exports to the US are ‘harming farmers and affording a competitive advantage to farmers in the UK and EU’.

The Biden administration, therefore, is seemingly balancing what it views to be its obligations to Belarus with the interests of American farmers and consumers. To find a way through this impasse, influential voices in the foreign policy community have recommended an American détente with Belarus. Their argument goes that the US could end Belarus’ economic isolation in return for Lukashenko guaranteeing democratic and humanitarian reforms at home. 

If this were to be achieved, then exports from the world’s largest potash producer could recommence, lifting the price pressure off American farmers and consumers. Belarussians would also see their living standards increase as their economy reconnected with global markets and the social fabric of their lives would be rethreaded under a new reformist agenda. This is clearly the wish of the US agricultural sector, but would such a détente have the support of the American electorate? 

In one sense, it’s difficult to say as the sanctioning of Belarus is not a hot-button political issue in the US, but there is certainly growing concern about fast-rising prices. In a recent poll, 65% of Americans said that they thought that the government was not doing enough to combat inflation and President Biden’s ratings have slumped as a result. With the WSJ noting that high fertilizer prices are likely to feed through into higher prices for basic foodstuffs, and with Americans so concerned about inflation, then sanctions on Belarus seem to be against the wishes of the electorate. Perhaps the current sanctions policy is a result of President Biden being distracted from the Belarussian issue as he faces down Russian aggression towards Ukraine. However, discontent over price inflation could easily mark the undoing of his Presidency and the withdrawal of sanctions on Belarus is an easy route to making that particular problem go away. 

iv)swamp stories

KING REPORT/SWAMP STORIES

ECB Is Said to Weigh Policy Shift with Possibility of 2022 Hike
https://www.bloomberg.com/news/articles/2022-02-03/ecb-is-said-to-prepare-for-potential-march-policy-recalibration-kz74p60u
 
ECB President Christine Lagarde says policy makers are growing more worried about the recent surge in inflation but signals they aren’t about to rush into raising interest rates
    “Compared with our expectations in December, risks to the inflation outlook are tilted to the upside, particularly in the near term,” Lagarde said… https://t.co/uJnXngGdfs
 
ECB’s Lagarde says inflation is ‘at least 50%’ attributable to energy prices https://t.co/NR5GX3jEBY
 
Energy prices for millions of British households are set to soar from April after the energy regulator said that it would raise its cap on the most widely used tariffs by 54% due to record global gas prices…https://t.co/TNfIM3am8o
 
Bank of England hikes rates in clamor to contain spiraling inflation
The Bank of England raised interest rates to 0.5% on Thursday and nearly half of its policymakers wanted a bigger increase to contain rampant price pressures, as the central bank warned inflation will soon top 7%.  In a surprise split decision, four of the nine members of the Monetary Policy Committee wanted to raise interest rates by half a percentage point to 0.75%. This would have been the biggest increase in borrowing costs since the BoE became operationally independent 25 years ago…
https://www.reuters.com/business/bank-england-hikes-rates-clamour-contain-spiralling-inflation-2022-02-03/
 
@IHSMarkitPMI: U.S private sector output growth dropped to the slowest for 18 months in January according to the latest PMI data, to signal a near-stalling of the recovery. Both manufacturers and service providers registered a notable loss of growth momentum. Read more: https://t.co/wTKvseF9Pk
 
January 2022 Services ISM®: Business Activity Index at 59.9%; New Orders Index at 61.7%; Employment Index at 52.3%; Supplier Deliveries Index at 65.7%
    “The Prices Index registered 82.3 percent, down 1.6 percentage points from the seasonally adjusted December figure of 83.9 percent. Services businesses continue to struggle replenishing inventories, as the Inventories Index (49.4 percent, up 2.7 percentage points from December’s reading of 46.7 percent) and the Inventory Sentiment Index (registering 47.5 percent, up a healthy 9.2 percentage points from December’s reading of 38.3 percent) remained in contraction or ‘too low’ territory in January.”…
WHAT RESPONDENTS ARE SAYING 

• “Supply constraints and outages persist. With mechanical component parts, the problems are severe. We are finding widespread depletion of field service part inventories to sustain factory production of new product orders. The inability to satisfy replacement part demand creates tremendous operational risk.” [Accommodation & Food Services]…
• “Costs have escalated to what we believe are unsustainable levels. Available labor is nonexistent, so we have cut staffing and are taking on fewer projects temporarily in an attempt to reduce cost. Outsourcing where possible. We are not optimistic at this time.” [Construction]…

The New Export Orders Index registered 45.9 percent, a 15.6-percentage point decrease from the 61.5 percent reported in December…
https://www.prnewswire.com/news-releases/services-pmi-at-59-9-january-2022-services-ism-report-on-business-301474463.html
 
ISM® Makes Annual Adjustments to Seasonal Factors for Manufacturing PMI®, Services PMI® and Diffusion Indexes   https://www.prnewswire.com/news-releases/ism-makes-annual-adjustments-to-seasonal-factors-for-manufacturing-pmi-services-pmi-and-diffusion-indexes-301464999.html
 
Bidenflation: Factory Orders Plunge Twice as Much as Expected
The Commerce Department said on Thursday that factory orders dropped 0.4 percent in December, the largest month-to-month drop since the pandemic lockdown crash of April 2020. Economists had forecast orders tumbling just 0.2 percent.
    Factory orders are measured in nominal dollars, meaning they do not take into account inflation. When prices are rising rapidly, as they did for most of last year, even a rise in orders can actually be a contraction of output because factories may be putting out fewer goods that have higher prices…
https://www.breitbart.com/economy/2022/02/03/bidenflation-factory-orders-plunge-twice-as-much-as-expected/
 
@nytimes: Sweden will lift most Covid restrictions next week, Prime Minister Magdalena Andersson said. The country joins a growing list of European nations that are scrapping pandemic rules even as cases across the continent soar.
 
ESHs and stocks got pounded globally on Thursday.  A bottom occurred just 4 minutes after the NYSE open on conditioned buying by the usual suspects.  ESHs jumped 23 handles in 4 minutes.
 
As Meta plunge slams Wall Street, retail investors ‘buy the dip’
Investors on Fidelity’s online trading platform placed four buy orders for every sell order, with the social media company topping the list of most-traded stocks… http://reut.rs/3AXcQ9j

@pboockvar: The CRB food stuff index closed yesterday at a record high. (Chart at link)
https://twitter.com/pboockvar/status/1489312192273039360
 
Inflation with slow growth is called ‘Stagflation’.  This is present in the US right now.  Inflation with recession is something far worse – and its presence is looming!
ESHs and US stocks trade sideways in a moderate range from 12:19 ET until they broke to new lows at 14:30 ET.  Nasdaq fell to -3% for the session.  The last-hour upward manipulation commenced when the final hour arrived.  It ended at 15:21 ET.  New lows appeared.  A rally attempt began with 20 minutes remaining; it failed quickly.  New lows appeared.  ESHs and stocks closed a tad above their lows.
 
@bespokeinvest: There are 12 times as many stocks in the Russell 2000 down 20% YTD (545) as there are up 20% (45).

Four senior aides to Boris Johnson have resigned from Downing Street within hours of each other amid growing pressure on the prime minister. – BBC
 
NY Times: A Biden administration official said the ISIS leader Abu Ibrahim al-Hashimi al-Qurayshi died at the start of a U.S. raid in Syria when he blew himself up with an explosive that also took out members of his family. At least 13 were killed in the operation…
 
“Thanks to the skill and bravery of our armed forces, we have taken off the battlefield Abu Ibrahim al-Hashimi al-Qurayshi — the leader of ISIS,” Mr. Biden said in a statement. “All Americans have returned safely from the operation.”… Given the fluid nature of early reports in a complex raid like Thursday’s operation, the military’s initial version may be incomplete. Accounts of other events have at times turned out to be contradictory or sometimes flat wrong.
https://www.nytimes.com/live/2022/02/03/world/us-raid-syria-isis?smid=tw-nytimes&smtyp=cur#us-raid-syria
 
ISIS leader killed in US Special Operations raid in Syria, Biden says
Abu Ibrahim al-Hashimi al-Qurayshi was killed in what witnesses described as a large operation by US commandos – Residents and activists told the AP that there were multiple deaths near the home that was raided in Atmeh, which included civilians. Syrian Observatory for Human Rights said nine people were killed, including two children. The White Helmets, a civil defense group in the country, tweeted that 13 people, including six children and four women, were killed…
https://www.foxnews.com/us/us-special-operations-forces-carry-out-successful-mission-in-northwest-syria
 
Biden Gives Statement on ISIS Leader Killed, Has Incredible Excuse for Why Women & Children Killed – “President Biden said Abu Ibrahim al-Hashimi al-Qurayshi died by exploding a bomb that killed himself and members of his family, including women and children, as U.S. forces approached,” the AP reported…. “The Syria Civil Defense (The White Helmets) received reports about an airborne raid after midnight on Thursday. Later it was discovered that the airborne raid was carried out by U.S. special forces in Atma area in the Idlib countryside near the Syrian-Turkish border,” SCD said…
     “A tense standoff briefly ensued, with loudspeakers blaring warnings in Arabic for everyone in the house to surrender, neighbors said,” the report continued. “Then an explosion rocked the building. After that, some of the house’s occupants had not emerged and a major battle erupted, with heavy machine gun fire and apparent missile strikes.” [Emphasis added]…
https://beckernews.com/biden-gives-statement-on-isis-leader-killed-has-incredible-excuse-for-why-women-children-killed-43969/
 
Remember the drone attack on the purported Afghan terrorist that killed civilians?  It turned out to be the execution of an innocent civilian that was delivering supplies.  No one was held accountable.
 
BOMBSHELL REPORT: Biden Admin Left 9K Americans in Afghanistan, Originally Claimed 150
https://hannity.com/media-room/bombshell-report-biden-admin-left-9k-americans-in-afghanistan-originally-claimed-150/
 
After the close Amazon reported: EPS of $27.75 due to an $11.8B gain from its investment in Rivian; sales of $137.4B, $137.6B expected.  AMZN sees Q1 net sales at $112B to $117B; $120.51B was expected.  It forecasts operating income of $3B to $6B; $6.06B was consensus.  Amazon raised its Prime Membership price to $139/year from $119/year.  AMZN initially sank on the Q4 revenue miss and lower guidance but then soared 18% in after-hours trading on inflating its Prime Membership by 17%.
 
@zerohedge: AMZN generated total revenue of $137.4BN. Of this $119.6BN (NorthAm and Intl retail ops) generated negative profit margin. Only AWS at $17.8BN in revenue was profitable
 
Fed balance sheet: +$12.726B; Treasuries +$11.892B   https://www.federalreserve.gov/releases/h41/20220203/
 
Today – The January Employment Report will be released at 8:30 ET.  The WH and MSM has preannounced that it will be disappointing.  Between the report’s release and the NYSE open, there will probably be multiple dynamic moves.  As always, compare the Household Survey’s ‘Employed’ to the NFP for verification or a significant discrepancy.
 
A key for today could be Amazon’s ability to maintain its huge after-hour rally (3300 peak).  If stocks are slammed early and/or at midday, be alert for the usual Friday afternoon rally.
 
Have you noticed the lack of Fed official appearances?  Fed officials where ubiquitous with appearances when they wanted to bray dovish.   Now, they, like Fauci recently, have gone underground.  Since the Fed blackout period ended on January 26 with the release of the FOMC communique, only SF Pres Daly and KC Prez George have appeared in public.  There are only 3 scheduled appearances for the remainder of February: Cleveland Fed President Mester, a hawk, on February 9, 16, and 24.

So long, Omicron: White House eyes next phase of pandemic Biden and his top health officials have already begun hinting at an impending “new normal,” in a conscious messaging shift meant to get people comfortable with a scenario where the virus remains widespread yet at more manageable levels…Officials are also anxious that voters will be disappointed by the idea of living with an endemic virus under a president who once pledged to shut it down completely…    That shifting outlook has dovetailed with rising urgency over the need to reverse Biden’s flagging approval ratings…Democrats now view an improvement in the pandemic over the next few months as the party’s only clear shot at boosting their midterm prospects…     That live-with-it approach is far from the vision Biden laid out in the opening days of his presidency…  https://www.politico.com/news/2022/02/03/white-house-omicron-next-phase-pandemic-00005033   President Biden: Mitch McConnell Is My Friend and A “Man of Honor” (The Establishment and ruling class are one team!)  https://t.co/vTRWVxXKSJ   New Yorkers scared to walk the streets, expect ‘absolutely nothing’ from Biden’s visit with the mayor – One lifelong NYC resident said, ‘I cannot believe what’s happened in this city’ (Citizens get the leaders that they deserve/ vote for!) https://www.foxnews.com/us/new-yorkers-expect-nothing-bidens-visit-mayor   @thehill: @SenSchumer: “Until 1981, this powerful body, the Supreme Court, was all White men. Imagine. America wasn’t all White men in 1981, or ever. Under President Biden and this Senate majority, we’re taking historic steps to make the courts look more like the country they serve.” https://twitter.com/thehill/status/1489277244765843459   Schumer and his staff are very ignorant of Black History (And this is Black History Month!) and Supreme Court history, or Chuck is practicing political pandering.  In 1967, Thurgood Marshall became the first black justice confirmed to the SCOTUS.   Pelosi says U.S. athletes should not anger ‘ruthless’ Chinese government at Olympics http://reut.rs/3HpP08A

Let us close out the week with this offering courtesy of Greg Hunter

Gates of Hell Will Not Prevail, Canadian Truckers and META Tanks | Greg Hunter’s USAWatchdog

Gates of Hell Will Not Prevail, Canadian Truckers and META Tanks

By Greg Hunter On February 4, 2022 In Weekly News Wrap-Ups49 Comments

By Greg Hunter’s USAWatchdog.com (WNW 514  2.4.22) 

Evil is on the attack in our world, but “Fear Not,” it’s losing.  Matthew 16:18 Christ said, “And I say also unto thee That thou art Peter and upon this rock I will build my church and the gates of hell shall not prevail against it.”  This means evil shall not prevail against the followers of Christ, and right now, evil is getting its tail kicked.  The covid scam has all but ended.  Evil powers at CNN are fighting each other in an “evil hating on evil” theme.  It’s another sign that evil knows the scam is up, and the evil demons pushing this crap are running for cover.  The truck drivers and farmers in Canada are the boulders (not sprinkles) flattening the Covid cake.  PM Justin Trudeau is in hiding because even he knows he’s finished.

Meanwhile, news keeps coming out proving over and over again that Covid is a scam, and the vax is a depopulation bioweapon.   There should be serious jail time and public executions for the medical and pharmacy boards, Big Pharma, hospitals and government officials that pushed this depopulation event.  They ignored all facts that said the vax was not effective and NOT safe, and it’s still NOT.   This will be known as the biggest live and ongoing human experiment with gene altering mRNA in the history of the planet.  NAZI doctor Joe Mengele would be proud of the enormity of the carnage now and in the not-so-distant future.  It will also shamefully be known that the evil globalists denied life saving drugs to the public such as HCQ and Ivermectin simply to kill as many as possible and force them to take a worthless and damaging shot.  There is no medical reason for depriving the public of life saving medication unless you simply want people to die.

Facebook, now known as META, fell on its face today.  It is never going to be the same.  It lost more money in one day than the equivalent of three General Motors total market cap.  Remember what Charles Nenner said about a few tech companies holding up the markets?  META was one he was referring to.  Nenner would tell you to take some risk off the table—he did.

Join Greg Hunter as he talks about these stories and more in the Weekly News Wrap-Up 2.4.22.

Gates of Hell Will Not Prevail, Canadian Truckers and META Tanks

end

Well that is all for today. I will see you Monday night

h