FEB 9

FEB9

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

GOLD; UP $8.05 to $1835.20

SILVER: $23.33 UP 14 CENTS

ACCESS MARKET: GOLD: 1833.50..

SILVER: $23.30

Bitcoin: morning price: 43,785 DOWN 468

Bitcoin: afternoon price: 44,785 UP 286

Platinum price: closing UP $7.55 to $1032.80

Palladium price; closing UP $39.05 at $2288.40

END

end

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comex notices//JPMorgan notices filed COMEX//NOTICES:EXCHANGE: COMEX FILED:EXCHANGE: COMEX 7/13

EXCHANGE: COMEX
CONTRACT: FEBRUARY 2022 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,826.600000000 USD
INTENT DATE: 02/08/2022 DELIVERY DATE: 02/10/2022
FIRM ORG FIRM NAME ISSUED STOPPED

118 C MACQUARIE FUT 3
624 H BOFA SECURITIES 6
661 C JP MORGAN 4
661 H JP MORGAN 3
685 C RJ OBRIEN 3
800 C MAREX SPEC 1
905 C ADM 6

TOTAL: 13 13
MONTH TO DATE: 16,819

NUMBER OF NOTICES FILED TODAY FOR FEB. CONTRACT: 13 NOTICE(S) FOR 1300 OZ (0.0404 TONNES)

total notices so far: 16,819 contracts for 1,681,900 oz (52.314 tonnes)

SILVER NOTICES:

0 NOTICE(S) FILED TODAY FOR nil OZ/

total number of notices filed so far this month 1249 : for 6,245,000 oz

GLD

WITH GOLD UP $8.05

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

NO CHANGES IN GOLD INVENTORY AT 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: 1015.96 TONNES/

Silver//SLV

WITH NO SILVER AROUND AND SILVER UP 14 CENTS:/:

NOCHANGE IN SILVER INVENTORY AT THE SLV/:

AT THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

CLOSING INVENTORY SLV/ TONIGHT: 544.573 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A STRONG 827 CONTRACTS TO 147,379 AND RESTS FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020 AND DESPITE THIS STRONG LOSS IN OI, IT WAS ACCOMPANIED WITH OUR STRONG $0.15 GAIN ADVANCE IN SILVER PRICING AT THE COMEX ON TUESDAY. OUR BANKERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.15) BUT WERE SUCCESSFUL IN KNOCKING OUT SOME SILVER LONGS AS WE HAD A SMALL LOSS OF 351 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 FAIR ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A HUGE INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 4.110 MILLION OZ FOLLOWED BY TODAY’S 15,000 OZ QUEUE JUMP//NEW STANDING 6.345 MILLION OZ. V) STRONG SIZED COMEX OI LOSS.

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

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI SILVER TODAY: CONTRACTS -117

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 7 days, total contracts: : 3870 contracts or 19.350 million oz OR 2.764 MILLION OZ PER DAY. (552 CONTRACTS PER DAY)

TOTAL NO OF OZ UNDERGOING EFP TO LONDON 3870 CONTRACTS X 5,000 PER CONTRACT:

EQUATES TO: 19.350 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: 17.555 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 DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 827 DESPITE OUR STRONG $0.15 GAIN SILVER PRICING AT THE COMEX// TUESDAY THE CME NOTIFIED US THAT WE HAD A FAIR SIZED EFP ISSUANCE OF 359 CONTRACTS( 359 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 15,000 OZ QUEUE JUMP //NEW STANDING 6.345, MILLION OZ// .. WE HAD A FAIR SIZED LOSS OF351 OI CONTRACTS ON THE TWO EXCHANGES FOR 0.915 MILLION OZ//

WE HAD 0 NOTICES FILED TODAY FOR nil OZ

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A FAIR SIZED 3440 TO 512,842 AND CLOSER TO OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: — 231 CONTRACTS.

THE BIS HAS ABANDONED THE GOLD COMEX TRADING!!!

THE FAIR SIZED INCREASE IN COMEX OI CAME DESPITE OUR STRONG GAIN IN PRICE OF $5.95//COMEX GOLD TRADING/TUESDAY/.AS IN SILVER WE MUST HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION AS THE TOTAL GAIN ON OUR TWO EXCHANGES TOTALED 4558 CONTRACTS…

WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR FEB AT 64.3 TONNES FOLLOWED BY TODAY’S 1600 OZ E.F.P. JUMP TO LONDON //NEW STANDING: 58.454 TONNES

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF $5.95 WITH RESPECT TO TUESDAY’S TRADING

WE HAD A GOOD SIZED GAIN OF 4327 OI CONTRACTS (14.177 PAPER TONNES) ON OUR TWO EXCHANGES

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 887 CONTRACTS:

FOR APRIL 887 ALL OTHER MONTHS ZERO//TOTAL:887

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 512,842.

IN ESSENCE WE HAVE A GOOD SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 4327, WITH 3671 CONTRACTS INCREASED AT THE COMEX AND 887 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 4558 CONTRACTS OR 14.177TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (887) ACCOMPANYING THE FAIR SIZED GAIN IN COMEX OI (3440,): TOTAL GAIN IN THE TWO EXCHANGES 4327 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 1600 OZ//NEW STANDING 58.454 TONNES// 3) ZERO LONG LIQUIDATION ,4) FAIR SIZED COMEX OI. GAIN 5) SMALL 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 :

8462 CONTRACTS OR 846,200 oz OR 26.32 TONNES 7TRADING DAY(S) AND THUS AVERAGING: 1208 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 7 TRADING DAY(S) IN TONNES: 26.32 TONNES

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

THUS EFP TRANSFERS REPRESENTS 26.32/3550 x 100% TONNES 0.732% 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: 26.32 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, FELL BY A STRONG SIZED 827 CONTRACTS TO 147,379 AND FURTHER FROM OUR COMEX RECORD //244,710(SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 4 1/2 YEARS AGO.

EFP ISSUANCE 359 CONTRACTS

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

MAR 359 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 359 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 827 CONTRACTS AND ADD TO THE 359 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A SMALL SIZED LOSS OF 468 OPEN INTEREST CONTRACT FROM OUR TWO EXCHANGES.

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 2.340 MILLION OZ,

OCCURRED DESPITE OUR $0.15 GAIN IN PRICE.

OUTLINE FOR TODAY’S COMMENTARY

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

2 ) Gold/silver trading overnight Europe,

(Peter Schiff,

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

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

5. Other gold commentaries

6. Commodity commentaries/cryptocurrencies

3. ASIAN AFFAIRS

i)WEDNESDAY MORNING// TUESDAY NIGHT

SHANGHAI CLOSED UP 27.32 PTS OR 0.70% //Hang Sang CLOSED UP 500.50 PTS OR 2.06% /The Nikkei closed UP 295.35 PTS OR 1.08% //Australia’s all ordinaires CLOSED UP 1.12% /Chinese yuan (ONSHORE) closed UP 6.3636 /Oil DOWN TO 89.04 dollars per barrel for WTI and DOWN TO 90.60 for Brent. Stocks in Europe OPENED ALL GREEN // ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.3636. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3680: /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFF SHORE WEAKER/

A)NORTH KOREA//USA/OUTLINE

b) REPORT ON JAPAN

OUTLINE

3 C CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A FAIR SIZED 3440 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 INCREASE OCCURRED WITH OUR GAIN OF $5.95 IN GOLD PRICING TUESDAY’S COMEX TRADING. WE ALSO HAD A SMALL SIZED EFP (887 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 SMALL SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS 887 EFP CONTRACTS WERE ISSUED: ;: , & FEB. 0 APRIL: 887 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 887 CONTRACTS

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

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A GOOD SIZED 4327 TOTAL CONTRACTS IN THAT 887 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A FAIR SIZED COMEX OI GAIN OF 3440 CONTRACTS..

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR FEB (58.454),

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: 58.454 TONNES

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE //// (IT ROSE $5.95)AND THEY WERE UNSUCCESSFUL IN FLEECING ANY LONGS AS WE HAVE REGISTERED A GAIN OF 14.177 TONNES OF TOTAL OI, ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR FEB (58.454 TONNES)…

WE HAD –231 CONTRACTS REMOVED FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES 4327 CONTRACTS OR 432,700 OZ OR 13.455 TONNES

Estimated gold volume today: 63,940 /// atrocious

Confirmed volume yesterday: 159,155 contracts poor

INITIAL STANDINGS FOR FEB ’22 COMEX GOLD //FEB 9

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil oz
Withdrawals from Customer* Inventory in oz*	30,585.858 oz Brinks
Deposit to the Dealer* Inventory in oz*	nilOZ
Deposits to the Customer* Inventory, in oz*	nil
No of oz served (contracts) today	13 notice(s)1300 OZ 0.0404 TONNES
No of oz to be served (notices)	1974 contracts 197,400 oz 6.1399 TONNES
Total monthly oz gold served (contracts) so far this month	16,819 notices 1,681,900 OZ 52.314 TONNES
Total accumulative withdrawals of gold from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of gold from the Customer* inventory this month*	xxx oz

For today:

No dealer deposit 0

No dealer withdrawal 0

0 customer deposit

total deposit: nil oz

1 customer withdrawal

i) out of Brinks: 30,585.858 oz

total withdrawals: 30,585.858 oz

ADJUSTMENTS: 0.

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JANUARY.

For the front month of FEBRUARY we have an oi of 1987 stand for LOSING 294 contracts.

We had 278 contracts served upon yesterday, so we lost 16 contracts or an additional 1600 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 304 contracts and thus the OI standing is 4445.

April saw a GAIN of 4223 contracts up to 397,663.

We had 13 notice(s) filed today for 1300 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 13 contract(s) of which 4 notices were stopped (received) by j.P. Morgan dealer and 3 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 (16,819) x 100 oz , to which we add the difference between the open interest for the front month of (FEB: 1987 CONTRACTS ) minus the number of notices served upon today 13 x 100 oz per contract equals 1,878,300 OZ OR 58.454 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 (16,819) x 100 oz+ (1987) OI for the front month minus the number of notices served upon today (XX} x 100 oz} which equals 1,878,300 oz standing OR 58.454 TONNES in this active delivery month of FEB.

We lost 16 contracts or an additional 1600 oz will not stand over here and were EFP’d. to London

TOTAL COMEX GOLD STANDING: 58.454 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: 32,705,495.033 OZ (1017.27 TONNES)

TOTAL ELIGIBLE GOLD: 15,389,320.447 OZ (478.67 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 9

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	235,041.120 oz CNT Int. Delaware
Deposits to the Dealer* Inventory*	194,551.954 OZ Loomis
Deposits to the Customer Inventory	nil oz
No of oz served today (contracts)	0-CONTRACT(S)nil OZ)
No of oz to be served (notices)	20 contracts (100,000 oz)
Total monthly oz silver served (contracts)	1249 contracts 6,245,000 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 1 deposits into the dealer

i) Into Loomis: 194,551.954 oz

total dealer deposits: 194,551.954 oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

We have 0 deposit into the customer account

total deposit: nil oz

JPMorgan has a total silver weight: 184.649 million oz/353.157 million =52.27% of comex

ii) Comex withdrawals: 2

a)Out of CNT 192,520.290 oz

b) Out of Int. Delaware: 42,520.830 oz

total withdrawal 235,041.120 oz

we had 2 adjustments customer to dealer

a)Brinks 1,563,065.352 oz

b) Malca 951,875.096 oz

the silver comex is in stress!

TOTAL REGISTERED SILVER: 84.153 MILLION OZ

TOTAL REG + ELIG. 353,157 MILLION OZ

CALCULATION OF SILVER OZ STANDING FOR FEBRUARY

silver open interest data:

FRONT MONTH OF FEB//2022 OI: 20 CONTRACTS LOSING 8 contracts on the day. We had 11 contracts served upon yesterday.

So we gained 3 contracts or an additional 15,000 oz will stand for silver on this side of the pond.

FOR MARCH WE HAD A LOSS OF 9948 CONTRACTS DOWN TO 83,283 CONTRACTS.

APRIL HAD A SMALL GAIN OF 5 CONTRACTS UP TO 70

MAY HAD A GAIN OF 9125 CONTRACTS UP TO 47,001 contracts

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 0 for NIL oz

Comex volumes: 26,226// est. volume today//awful plus!

Comex volume: confirmed YESTERDAY: 70,172 contracts (good)

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 1249 x 5,000 oz =. 6,245,000 oz

to which we add the difference between the open interest for the front month of FEB (20) and the number of notices served upon today 0 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the FEB./2021 contract month: 1249 (notices served so far) x 5000 oz + OI for front month of FEB (20) – number of notices served upon today (0) x 5000 oz of silver standing for the FEB contract month equates 6,345,000 oz. .

We gained 3 CONTRACTS OR 15,000 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 9/WITH GOLD UP $8.05//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1015.96 TONNES

FEB 8/WITH GOLD UP $5.95 TODAY: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 4.36 TONNES INTO THE GLD//INVENTORY RESTS AT 1015.96 TONNES

FEB 7/WITH GOLD UP $14.00 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.24 TONNES FROM THE GLD/////INVENTORY RESTS AT 1011.60 TONNES//

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

CLOSING INVENTORY: 1015.96 TONNES

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

SLV

FEB 9/WITH SILVER UP 14 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 544.573 MILLION OZ//

FEB 8/WITH SILVER UP 15 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 3.143 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 544.573 MILLION OZ//

FEB 7/WITH SILVER UP 52 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.218 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 541.430 MILLION OZ/

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: 544.573 MILLION OZ

PHYSICAL GOLD/SILVER STORIES

1.PETER SCHIFF

end

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

end

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

Craig Hemke discusses gold prices and the rise of the USA interest rates. We must not be scared of rising interest rates with respect to gold prices

(Craig Hemke/GATA)

Craig Hemke at Sprott Money: On rates and gold

Submitted by admin on Tue, 2022-02-08 21:52Section: Daily Dispatches

9:54p ET Tuesday, February 8, 2022

Dear Friend of GATA and Gold:

Gold prices are not necessarily knocked down by rising interest rates, the TF Metals Report’s Craig Hemke writes today at Sprott Money. To the contrary, Hemke writes, gold has risen strongly along with Federal Reserve attempts to raise rates.

Hemke’s analysis is headlined “On Rates and Gold” and it’s posted at Sprott Money here:

https://www.sprottmoney.com/blog/On-Rates-and-Gold-Craig-Hemke-February-08-2022

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

END

For your interest…

Ed Steer: Deja vu all over again

Submitted by admin on Tue, 2022-02-08 23:16Section: Daily Dispatches

11:12p ET Tuesday, February 8, 2022

Dear Friend of GATA and Gold:

GATA board member Ed Steer’s weekend commentary in Ed Steer’s Gold and Silver Digest letter, headlined “Deja Vu All Over Again,” has been posted in the clear at GoldSeek’s compansion site, SilverSeek, here:

https://silverseek.com/article/deja-vu-all-over-again

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

END

4.OTHER GOLD/SILVER COMMENTARIES

This is big! Poland’s central bank buying 100 tonnes. Do not know where they are going to get it!

Poland bank buying 100Tonnes

Inbox

Screen Shot 2022-02-09 at 12.06.08 PM.png

END

Special thanks to Doug C for sending this to us:

Global Silver Demand Forecast To Reach A Record 1.112 Billion Ounces In 2022

Global Silver Demand Forecast To Reach A Record 1.112 Billion Ounces In 2022

Posted on 02 09, 2022

Gains Will Be Broad-based, With Growth Expected From Most Key Demand Components

(Washington D.C. – February 9, 2022) The outlook for silver demand is exceptionally promising for 2022, with global silver demand forecast to rise to a record high of 1.112 billion ounces (Boz) in 2022. The increase will be driven by record silver industrial fabrication, which is forecast to improve by 5 percent, as silver’s use expands in both traditional and critical green technologies. Physical silver investment demand (consisting of silver bar and bullion coin purchases) is projected to jump 13 percent in 2022, achieving a 7-year high. Silver’s use in jewelry and silverware is also expected to strengthen in 2022 by 11 percent and 21 percent, respectively.

Macroeconomic and geopolitical conditions will generally support precious metals prices in the first half of this year. However, once the pace of U.S. policy rate hikes becomes more evident, the price outlook becomes more challenging.

The Silver Institute is pleased to provide the following insights on the major components of the 2022 silver market.

Silver Demand

In 2022 the silver market will build on the strong foundation set last year, when silver demand gained in all key sectors. Continuing the trend from 2021, this year’s upside will be broad-based, with gains expected from most key demand components. The global total for 2022 is forecast to achieve a new record high, increasing by 8 percent to 1.112 Boz.

Silver industrial offtake (accounting for more than half of total silver demand) is projected to strengthen further, establishing a new record high in 2022. Ongoing improvements in the global economy will give silver industrial applications an additional boost, mitigating near-term headwinds from supply chain bottlenecks and the challenges in certain regions from the ongoing COVID pandemic.

The outlook for silver’s use in the photovoltaic (PV) industry remains bright. Government commitments to carbon neutrality have resulted in a rapid expansion of green energy projects. As a result, even with ongoing efforts to reduce silver loadings, record PV installations are expected to lift silver demand in this segment to an all-time high in 2022.

Despite the prolonged worldwide chip shortage, the outlook for silver demand in automotive and 5G related applications remains robust this year. The former has been underpinned by increasing vehicle electrification, which leads to higher silver loadings per vehicle. Meanwhile, the latter has been assisted by the acceleration of building infrastructure to support 5G networks and strong demand from mobile devices. Moreover, as chip manufacturing bottlenecks are forecast to ease gradually in 2022, the rise in silver demand for these and other electrical and electronic applications is expected to expand.

Jewelry demand is forecast to strengthen by 11 percent this year. India remains the driving force, assisted by improving consumer sentiment. Even though the Omicron wave affected Indian demand in early 2022, an expected easing of COVID-19 restrictions and efforts by jewelry retailers to increasingly push silver to urban consumers will favor jewelry sales across India. In the U.S., following a significant rebound in 2021, jewelry sales expansion is expected to continue, albeit at a slower pace. Silverware fabrication is forecast to expand by 21 percent this year; again, India will account for the bulk of the increase for silverware in line with jewelry.

Silver Supply & Market Deficit

Total global silver supply is projected to rise by 7 percent to 1.092 Boz in 2022. The main contributor is silver mine production, which is forecast to grow 7 percent to a six-year high this year. This will be driven by higher output from primary silver mines, particularly from several large existing operations and supported by large new projects coming online.

The increase in silver recycling should be more modest in 2022, with volumes likely to advance by 3 percent, with the rise entirely due to higher industrial recycling. All other areas are expected to record lower volumes, as reduced distress selling weighs on jewelry and silverware scrap.

After shifting to a market deficit (total supply less total demand) in 2021 for the first time in six years, the silver market is expected to record a supply shortfall of 20 million ounces this year. However, the projected deficit is relatively modest in absolute terms.

Silver Physical Investment, Exchange-Traded Products & Price

Silver physical investment should enjoy double-digit gains in 2022 to hit a seven-year high. As the year advances, ongoing macroeconomic uncertainties, and elevated inflationary pressure, should encourage retail investors to seek physical silver for wealth preservation. Accordingly, profit-taking is likely to remain muted. Physical silver investment in India is also expected to strengthen on the back of improving economic conditions and positive price expectations.

Silver exchange-traded products (ETPs) saw a 6 percent rise to 1.132 Boz last year. So far this year, silver ETP holdings are little changed on year-end 2021 and remain close to record highs, a position which should be maintained for much of this year.

Early 2022 has seen GDP growth downgraded for several major economies, along with rising financial market volatility. This points to an increasing risk that the speed of the U.S. interest rate hiking cycle could turn out to be slower than current market expectations have allowed. As a result, silver prices should initially benefit from fresh investor interest in precious metals. Silver’s high beta should also see it outperform gold, with the gold:silver ratio projected to retreat below 70 by year’s end.

Overall, the 2022 annual average silver price (basis the LBMA silver price) is forecast to be $24.80, 1 percent lower than 2021’s average price of $25.14. Even so, it will still represent a historically high annual average.

# # #

The Silver Institute is the silver industry’s primary voice in expanding public awareness of silver’s essential role in today’s world. Its mandates are to provide the global market with reliable statistics and information on silver and create and execute programs that help drive silver demand. For more information on silver, including its use in the green economy, please visit www.silverinstitute.org.

Metals Focus, the respected global precious metals research consultancy based in London, contributed to this analysis. The firm will research and produce the Silver Institute’s annual report on the international silver market, World Silver Survey 2022, which will be released on April 20.

Disclaimer

-END-

5.OTHER COMMODITIES/

special thanks to G for sending this to us:

agricultural commodities breaking out

Inbox

Click to access b142e70e-62ab-4555-bedc-b91908873448.pdf

6.CRYPTOCURRENCIES

Steve Brown….

ttps://novusconfidential.wordpress.com/2022/02/09/wall-street-cartel-pumps-billions-into-crytpo/

Wall Street Cartel Pumps Billions into Crytpo

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

ONSHORE YUAN: CLOSED UP 6.3636

OFFSHORE YUAN: 6.3680

HANG SANG CLOSED UP 500,50 PTS OR 2.06%

2. Nikkei closed UP 295.35 PTS OR 1.08%

3. Europe stocks ALL GREEN

USA dollar INDEX UP TO 95.44/Euro RISES TO 1.1433-

3b Japan 10 YR bond yield: RISES TO. +.208/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 115.46/ 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:: 89.04 and Brent: 90.60–

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO +.0.227%/Italian 10 Yr bond yield FALLS to 1.82% /SPAIN 10 YR BOND YIELD FALLS TO 1.10%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.59: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield FALLS TO : 2.44

3k Gold at $1828.05 silver at: 23.27 7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble;// Russian rouble UP 25/100 in roubles/dollar AT 74.80

3m oil into the 89 dollar handle for WTI and 90 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 115.46 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 .9234– as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0557 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: 1.932 DOWN 3 BASIS PTS

USA 30 YR BOND YIELD: 2.228 DOWN 3 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 13.60

Futures, Global Markets Jump As Bond Rout Eases

WEDNESDAY, FEB 09, 2022 – 08:01 AM

U.S. index futures jumped along with Asian and European markets, while the VIX declined for a fourth consecutive day, setting up Wall Street for a strong open as bond markets stabilized bringing some respite for markets whipsawed in recent weeks by concerns about tightening monetary policy. As of 730am ET, S&P emini futures rose 38 points or 0.84%, while Nasdaq futures were up 1.3% or 187 points, while Dow futures were up 0.60% or 215 points. The 10-year U.S. Treasury yield retreated from levels last seen in 2019, dropping from 1.97% at their high yesterday to 1.92%, and yields across Europe also fell after France’s central banker said markets may be getting ahead of themselves in pricing rate hikes for this year. A dollar gauge slipped and cryptos jumped.

Much of today’s rally is the result of Bank of France Governor Villeroy pushing back against market pricing yesterday, which suggests that there are indeed limits to just how far central banks are willing to be pushed by traders’ expectations. Still, despite today’s stabilization, the risk of market swings remains elevated ahead of U.S. inflation data on Thursday, with investors facing a likely “irreversible hawkish shift” by major central banks, according to Ipek Ozkardeskaya, an analyst at Swissquote. “The choppy trading is here to stay,” she said.

Investors are weighing up still-robust corporate earnings against worries about a rapid withdrawal of pandemic-era stimulus. Data this week is expected to show U.S. inflation continues to overheat, potentially stoking bets on a more aggressive Fed liftoff in March. About 76% of S&P 500 firms that have reported results beat earnings estimates, with profits coming in more than 6% above projected levels.

“We’re still in an environment where a lot is going quite well for the economy,” Lauren Goodwin, a multi-asset portfolio strategist at New York Life Investments, said on Bloomberg Television. “It’s still an all-cyclicals story from our perspective.”

Peloton shares rose 4.5% in premarket trading, extending this week’s bounce amid renewed speculation that the fitness company could become a takeover target, and following news that CEO John Foley will step down. Lyft dropped 4.4% as the number of reported active riders missed analyst expectations. Some other notable premarket movers:

Alibaba (BABA US) could be active in U.S. trading after shares in Hong Kong jumped as SoftBank Group Corp. said it wasn’t involved in the Chinese tech giant’s filing of additional American depositary shares, allaying investor fears that the firm’s largest shareholder might be looking to cash out.
Lyft (LYFT US) fell 4.7% after reporting mixed results on Tuesday, underlining Covid pressures on ridership and growth. Still, it reported revenue for the fourth quarter that beat the average estimate. Analysts focused on positive trends for 2022, and see light at the end of the omicron tunnel.
Enphase Energy (ENPH US) gains as much as 19% in premarket trading after the solar company’s first-quarter revenue forecast beat the average analyst estimate.
Chipotle Mexican Grill (CMG US) jumped in postmarket trading after it reported sales that topped estimates as smoked brisket, strong delivery orders and higher prices helped results in the fourth quarter.
GlobalFoundries (GFS US) gained 4% postmarket after the semiconductor manufacturer’s first-quarter revenue and Ebitda forecast beat the average analyst estimate.
New Relic (NEWR US) shares slumped 23% in extended trading on Tuesday, after the application software company reported its third-quarter results and gave an outlook where it widened its view for an adjusted full-year loss per share.
Mandiant (MNDT US) rises 3.9% in premarket trading following an 18% surge on Tuesday after Bloomberg reported Microsoft is in talks to acquire the cybersecurity company. Mandiant also reported quarterly earnings after the close.
Gevo (GEVO US) is within months of hitting a potential inflection point in its cash flow profile, Citi writes in note initiating on stock with a buy rating and $5 target. Stock climbs 7.6% premarket.
Sundial Growers (SNDL US) shares climb 9.5% in extended trading after the Canadian cannabis producer said it has received a 180-day extension to regain compliance with Nasdaq’s minimum bid price requirement.
NCR (NCR US) shares jumped 11% in postmarket trading on Tuesday, after the company said it has launched a board-led strategic review process to evaluate a full range of strategic alternatives available.
Paycom Software (PAYC US) shares climbed 8% in extended trading on Tuesday, after the company reported fourth-quarter results that beat expectations and gave a full-year forecast that was ahead of the analyst consensus.
XPO Logistics (XPO US) gained 3.4% in extended trading after the transportation services company forecast adjusted earnings per share for 2022 that beat the average analyst estimate.
Adtalem Global Education (ATGE US) shares tumbled in extended trading after the company lowered its full-year forecasts for adjusted revenue and earnings per share.

In Europe, the Stoxx Europe 600 Index rose 1.5% as technology shares bounced back and carmakers surged. A raft of mostly positive earnings reports lifted sentiment. Adyen NV jumped more than 11% after the Dutch online-payments company reported second-half revenue growth that met analysts’ estimates. Amundi SA, Europe’s largest asset manager, climbed the most in a year after raking in more client cash than analysts’ expectations. Banks underperformed after disappointing results from ABN Amro Bank NV and Svenska Handelsbanken AB. Here are some of the biggest European movers today:

Adyen shares jump as much as 12% after the payments firm reported second-half net revenue in line with estimates and volumes that beat expectations. While analysts said the results were mixed, they are “enough,” given a negative buy-side view into earnings, Jefferies says.
Banco BPM gains as much as 6.7% after results from the Italian lender which Citi says highlight a “profound transformation.”
Pandora shares rise as much as 8.2% after the Danish jewelry maker reported results and provided guidance for the year. The forecast seems realistic, according to Citi.
Menzies shares gain as much as 42% to 475p after it rejected a preliminary and unsolicited 510p/share proposal from a unit of Agility Public Warehousing.
Vontobel shares jump as much as 8% after FY earnings exceed estimates and as the Swiss bank raised its dividend. The driving force behind the beat was the digital investing division, ZKB says.
GlaxoSmithKline shares fell as much as 1.4% after 4Q earnings. Jefferies says the company’s 2022 outlook was “as expected.” Citi says results and guidance “will do little to change investor sentiment.”
Transport giant DSV A/S said operating profit doubled in the fourth quarter, helped by rising freight rates and its most recent acquisition.
Equinor ASA, Europe’s second-largest supplier of natural gas, boosted its share buyback and increased the dividend after profiting from a surge in prices for the fuel.

Asian equities jumped the most since Jan. 12 to snap a two-day slide, boosted by Chinese tech shares including Alibaba Group Holding Ltd. The MSCI Asia Pacific Index advanced as much as 1.5% to a two-week high, helped by Japan and a rally in a Hong Kong technology index with consumer-discretionary shares also gaining. Alibaba was the biggest contributor to the Hang Seng Index, which jumped 2.1% to lead Asian benchmarks, after SoftBank Group Corp. said it wasn’t involved in the Chinese e-commerce firm’s filing of additional American depositary shares. China’s broader market also rose after state-backed funds’ intervention helped stage a strong recovery late in Tuesday’s session.

“Now it comes to the point where people will start to focus on economics and corporate earnings growth,” said Eva Lee, the head of Greater China equities at UBS Global Wealth Management Chief Investment Office. “Upward revisions of earnings will be a crucial signpost that we’ll be looking for.” Investors will focus on key U.S. inflation data on Thursday that could impact the outlook for future U.S. rates. Market participants will also keep an eye on central bank policy decisions this week, including those in India and Indonesia

Japanese equities rose, driven by gains in electronics and auto makers after the yen weakened. Service providers also boosted the Topix, which gained 0.9%. SoftBank was the largest contributor to a 0.9% rise in the Nikkei 225 after reporting results and confirming plans for an Arm IPO. The yen gained slightly after dropping 0.4% against the dollar overnight. “U.S. rate hike expectations have been priced in somewhat by now,” said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management. “So there are going to be fewer situations where we see big selloffs triggered by rate-hike worries.”

Indian stocks gained for second straight session as automobile and banking companies rose on expectations that the monetary policy panel will keep benchmark interest rates unchanged to focus on growth. The S&P BSE Sensex climbed 1.1% to 58,465.97 in Mumbai, while the NSE Nifty 50 Index advanced by a similar measure. Eighteen of the 19 sector sub-indexes compiled by BSE Ltd. climbed, led by a gauge of automobile companies. The Reserve Bank of India’s monetary policy panel will conclude its three-day meeting on Thursday. All but one of the 39 economists surveyed by Bloomberg News expect the main repurchase rate to be held steady at 4%. Consumer prices in India rose for a third straight month in December. But the headline number is still within with the central bank’s 2%-6% target band, which allows policy makers the room to look away as some global peers lift rates to fight inflation. HDFC Bank contributed the most to the Sensex, increasing 2.5%. Carmaker Maruti Suzuki was the top gainer at 4.1%, its biggest surge since Jan. 25. Out of 30 shares in the Sensex index, 27 rose and 3 fell.

In rates, Treasury futures advanced paced by European bond rally after ECB policy makers pushed back on rate-hike expectations. Yields are richer by 2bp to 4bp across the curve led by intermediates, 10-year is down 3bps to 1.92%, flattening 2s10s by more than 1bp. Treasuries advance erodes outright concession for 10-year new-issue auction at 1pm ET. Fed speakers include Bowman and Mester. Auction cycle continues with $37b 10-year note, following strong demand for Tuesday’s 3-year sale, in which primary dealers were awarded record low share; cycle concludes Thursday with $23b 30-year new issue.

In FX, the Bloomberg Dollar Spot Index slipped as the greenback traded weaker against all of its Group-of-10 peers, with risk-sensitive currencies performing best. Benchmark Treasury yields fell up to 4bps, led by the long end as they halted a four-day rise. The euro bounced after a day low of $1.1403; yields across Europe fell after France’s central banker yesterday said markets may be getting ahead of themselves in pricing rate hikes for this year. Gilts rallied as traders pared their bets on Bank of England rate hikes, while the pound gained against a weaker dollar. Focus today will be on a speech from the BOE’s chief economist Huw Pill, with the market on the lookout for clues on the pace of tightening. Japan’s super-long bonds outperformed the benchmark 10-year note as the Bank of Japan refrained from stepping up bond purchases. The yen edged higher.

In commodities, oil held a drop as traders weighed tensions in Eastern Europe and the resumption of Iran nuclear talks. Aluminum traded near the highest level in more than 13 years. Bitcoin slipped below $44,000.

Looking at the day ahead data releases include the German trade balance and Italian industrial production for December. From central banks, we’ll hear from Bank of Canada Governor Macklem, BoE chief economist Pill, the ECB’s Schnabel and the Fed’s Bowman and Mester. Finally, today’s earnings releases include Disney, L’Oréal and Uber.

Market Snapshot

S&P 500 futures up 0.7% to 4,543.50
STOXX Europe 600 up 1.5% to 472.19
MXAP up 1.4% to 190.27
MXAPJ up 1.6% to 624.22
Nikkei up 1.1% to 27,579.87
Topix up 0.9% to 1,952.22
Hang Seng Index up 2.1% to 24,829.99
Shanghai Composite up 0.8% to 3,479.95
Sensex up 1.1% to 58,445.55
Australia S&P/ASX 200 up 1.1% to 7,268.33
Kospi up 0.8% to 2,768.85
German 10Y yield little changed at 0.21%
Euro little changed at $1.1420
Brent Futures down 0.5% to $90.37/bbl
Gold spot up 0.1% to $1,827.06
U.S. Dollar Index little changed at 95.56

Top Overnight News from Bloomberg

After the inexorable surge of Treasury yields this year, investors are weighing how much of the damage from anticipating Federal Reserve rate hikes has already been done
A relief rally spread across the world’s biggest government bond markets on Wednesday after yet another policy maker from the European Central Bank pushed back against traders betting on a rapid pace of interest-rate hikes this year
One of the biggest players in global trade signaled disrupted supply chains rattling economies from Vietnam to Germany may be just months from returning to normal, easing concerns of a more protracted period of shipping chaos that has fanned consumer inflation, wreaked havoc on retail inventories and slowed factory production
Bank of Japan Governor Haruhiko Kuroda faces a growing challenge to convince investors that a policy pivot isn’t on the horizon following a wave of hawkish turns by global central bankers
China has renewed its campaign to keep commodities markets in check, as the government tries to prevent raw materials prices from overheating while it takes steps to stimulate a faltering economy
Iceland’s central bank delivered its biggest interest- rate hike since the 2008 crisis, trying to quell inflation spurred by a rampant housing market. The Monetary Policy Committee in Reykjavik lifted the seven-day term deposit rate by 75 basis points to 2.75%, the highest level in almost two years

A more detailed look at global markets courtesy of Newsquawk

Asian stocks traded higher with earnings releases in focus and following the positive handover from Wall St where the major indices finished near the best levels of the day despite participants remaining in limbo ahead of US CPI. ASX 200 (+1.1%) was lifted by notable outperformance in the tech and financials sectors with the latter boosted by firm gains in Australia’s largest lender CBA which reported a 22% jump in H1 cash profit. Nikkei 225 (+1.1%) rose above 27,500 with biggest gaining stocks driven by earnings releases including IHI, AGC and Nissan, while Toyota reported a record 9-month profit and SoftBank was boosted after it began to pitch the ARM IPO. Hang Seng (+2.1%) and Shanghai Comp. (+0.8%) conformed to the constructive mood after reports yesterday that Chinese state funds stepped in to slow the market decline and with Hong Kong firmly boosted by a rebound in tech.

Top Asian News

Hong Kong Virus Cases Top 1,000 as Outbreak Overwhelms Hospitals
Top UAE Lender First Abu Dhabi Bank Offers to Buy EFG Hermes
Philippines in No Rush to Tighten Monetary Policy: Diokno
Hong Kong Reports 1,161 Covid Cases; Hospitals ‘Overwhelmed’

European bourses are firmer in a continuation of positive APAC/US trade, catalysts light thus far going into Thursday’s US CPI. Sectors are all in the green with Banking and Tech names lagging and outperforming respectively given the yield environment. US futures post broad-based gains in a continuation of yesterday’s action awaiting Central Bank speak.

Top European News

Adyen Rises Most Since IPO as Volume Growth Beats Estimates
Inflation-Stoking Supply Crunch Is Set to Ease in Second Half
Glaxo Expects Profit to Rise as Drugmaker Prepares for Split
Japan Ready to Divert Gas to Europe If Russian Supply Disrupted

In geopolitics:

French Presidency said leaders of Germany, France and Poland expressed joint support for Ukrainian sovereignty and implementation of Minsk ceasefire agreement, according to Reuters.
European and US regulators told banks to prepare for the threat of a Russian cyberattack, according to Reuters.
Russian Deputy Foreign Minister calls reports of possible US THAAD missile systems being supplied to Ukraine as a provocation, via Reuters citing Ria.
UK Foreign Minister Truss is set to fly to Moscow today to meet with Russian Foreign Minister Lavrov; PM Johnson will meet the Polish PM/President and NATO Secretary General on Thursday.
Satellite images showed unusual activity at a North Korean shipyard, according to Yonhap citing a US think tank.
Syrian air defences downed a number of missiles from Israeli aggression, while the Israeli military said a Syrian anti-aircraft missile fired towards Israel exploded in mid-air, according to Reuters.
Iran has unveiled a missile with a range of 1450km, via Tasnim.

In Fixed Income, bonds regroup after Tuesday’s meltdown, but fade ahead of 10 year T-note supply and two Fed speakers. Spanish Bonos underpinned by strong demand and tight pricing for new 30 year benchmark. Bunds marginally outpace Gilts post-ECB’s Villeroy questioning the hawkish reaction to revised guidance and pre-BoE’s Pill.

In FX, the greenback ground down, but off recent lows ahead of Fed speakers on the eve of US CPI. High beta and cyclical currencies outperform on risk and relative rate or policy outlook dynamics. Yen underpinned by softer UST yields and protected by Fib resistance below decent option expiry interest. Euro retains grasp of 1.1400 handle irrespective of ECB’s Villeroy expressing the view that markets have reacted too hawkishly to policy pivot. Rouble remains optimistic about reaching a resolution to feud with Ukraine and the West Russian government and CBR have agreed on crypto regulation and Russia will recognise crypto assets as currencies, according to Kommersant

In commodities, WTI and Brent are choppy and relatively rangebound awaiting fresh developments amid incremental geopolitical updates.
White House Economic Adviser Bernstein told CNN that releasing more oil reserves from the SPR is an option. Japan, at the request of the US government, has decided to secure necessary LNG stocks and accommodate some of this for Europe, via NHK citing sources; subsequently confirmed. Russian Permanent Representative to the EU Chizhov says that Russian can raise nat gas supplies to Europe once a request is made to do so, according to Sputnik News Spot gold/silver are steady and continue to reside around familiar levels and technical marks. Turkey will announce a scheme this weekend to encourage households to convert gold into Lira according to Reuters. Copper initially benefitted from the upbeat risk sentiment but then faltered in late trade and with China eyeing iron ore price stability measures. China’s market regulator says will take further measures to ensure iron ore price stability, while it will strengthen market supervision and crackdown on price irregularities and hoarding.

US Event Calendar

7am: Feb. MBA Mortgage Applications -8.1%, prior 12.0%
10am: Dec. Wholesale Trade Sales MoM, est. 1.5%, prior 1.3%; Wholesale Inventories MoM, est. 2.1%, prior 2.1%

DB’s Jim Reid concludes the overnight wrap

Our latest monthly EMR survey aimed at market participants is now live. Given the major rates selloff so far this year there’s a heavy bias towards questions on that and its implications, such as where you think the Fed and ECB will take policy this year. We also ask whether you think the Russia/Ukraine situation will be worse, similar or fading from view in a couple of months? Given the recent vol this will hopefully be a good gauge of current sentiment, so all help filling it in is much appreciated. The link is here and it’ll close on Friday.

That global bond rout showed no sign of abating in yesterday’s session, with yields climbing to fresh highs as markets digested sovereign issuance on both sides of the Atlantic and investors continued to brace for tighter global monetary policy. For a sense of quite how unprecedented this current run is, yesterday marked the 11th consecutive session in which 10yr bund yields moved higher, which overtakes a run of 10 successive increases we saw around New Year 2000 and is something we haven’t seen in the data going all the way back to German reunification in 1990. That 11th straight gain saw them rise a further +3.9bps to a post-2019 high of 0.26%, just as 10yr French OATs (+5.7bps) also hit a post-2019 high of their own yesterday. As on Monday however, higher yields across the continent coincided with a further widening in peripheral spreads, with the gap between 10yr BTPs and bunds up another +2.7bps to 158bps, whilst the Spanish 10yr yield spread over bunds also widened +0.8bps to 86bps. In both cases that leaves them at their widest since July 2020, although Greek spreads were a notable exception after the massive +22.0bps widening on Monday, and actually came down -4.9bps yesterday to 218bps.

After the European close, we did begin to see some initial pushback against the market’s very hawkish interpretation to the ECB’s decision last week, with Bank of France Governor Villeroy saying that “I think there were perhaps reactions that were very high and too high in recent days.” That saw the Euro slip back slightly immediately after the remarks, though it swiftly recovered to only end the session down -0.24% against the US Dollar. This afternoon we’ll hear from Isabel Schnabel on the Executive Board who’s taking part in a Twitter Q&A, so it’ll be interesting to see if she echoes those comments.

In the US, treasury yields followed the selloff in Europe, as the 10yr yield continues to get closer to breaching 2% for the first time since August 2019, coming within 3bps at its intraday peak of 1.97%, before ultimately closing up +4.7bps yesterday to 1.96%. Treasury yields have lagged the selloff in European sovereign yields since the hawkish showings from the ECB and BoE last week, though Treasuries made up ground following the strong employment and average hourly earnings data Friday morning, which has raised the stakes for tomorrow’s CPI as a potential catalyst for US rates. Fed funds futures are currently pricing approximately a 35% chance of a 50bp rate hike in March, and 5.45 rate hikes (assuming 25bp increments) for 2022 as a whole. For reference, our US economists see the year-on-year CPI increasing to +7.2%, which would be the highest going back to 1982.

The latest spike in yields didn’t prove as damaging to equities as some might have expected, with the S&P 500 (+0.84%) paring back early losses to move higher on the day, as part of a broad-based advance that left 381 companies in the green, and only three sectors lower on the day. The NASDAQ (+1.28%), FANG+ Index (+1.97%) of mega-cap stocks, and the small-cap Russell 2000 (+1.63%) all outperformed the S&P, with the Russell 2000 posting its third consecutive advance. For Europe there was a more muted performance and the STOXX 600 (+0.01%) eked out a marginal gain, but the prospect of ECB rate hikes has continued to be incredibly supportive for banks, and the STOXX Banks index (+2.24%) hit a post-2018 high, with its YTD performance now standing at +13.60%, the best performing STOXX 600 sector YTD.

One factor helping sentiment yesterday were more positive noises on the geopolitical front, with the latest meetings between various leaders raising hopes among investors that there could be some sort of de-escalation between Russia and the West over Ukraine. Obviously this can and has fluctuated day-to-day, but comments yesterday from President Macron that he “obtained that there will be no worsening and escalation” from his meeting with President Putin helped take some of the geopolitical risk premium out of various assets. Indeed by the close, Brent crude oil prices were down -2.06% to $90.78/bbl, which is their largest daily decline of 2022 so far, the MOEX Russia equity index surged +2.33%, and European natural gas futures were down -2.88% to a one week low.

Overnight in Asia, equity markets got off to a strong start following the positive performance on Wall Street. The Hang Seng Index (+1.98%) is leading the gains, with Alibaba shares up +7.28% in Hong Kong after SoftBank said they weren’t involved in the filing of further American depositary shares. Additionally, the Shanghai Composite (+0.40%), the CSI (+0.25%), the Nikkei (+1.09%), and the Kospi (+0.93%) are all trading in the green this morning. Going forward, equity futures are indicating a positive start in the US and Europe as well, with contracts on the S&P 500 (+0.44%), and DAX the (+0.66%) both advancing.

Otherwise, yields continued to rise in Japan with the 10-year JGB yield moving up to +0.215%, closer to the BOJ’s +0.25% ceiling, although those on 10yr US Treasuries are down -2.3bps this morning. Meanwhile, Iron ore futures in Singapore slumped from a 5-month high of $153 to $144 per ton after Chinese regulators cautioned information providers against fabricating prices to drive them up.

On the data front, the US monthly trade deficit came in at $80.7bn in December (vs. $83.0bn expected), which leaves the annual deficit at $859.1bn. That’s a second consecutive annual increase in the US trade deficit, having been at $676.7bn in 2020 and $576.3bn in 2019. Otherwise, the NFIB’s small business optimism index in January fell to an 11-month low of 97.1 (vs. 97.5 expected), but Italian retail sales unexpectedly rose +0.9% in December (vs. -0.3% expected).

To the day ahead now, and data releases include the German trade balance and Italian industrial production for December. From central banks, we’ll hear from Bank of Canada Governor Macklem, BoE chief economist Pill, the ECB’s Schnabel and the Fed’s Bowman and Mester. Finally, today’s earnings releases include Disney, L’Oréal and Uber.

3. ASIAN AFFAIRS

i)WEDNESDAY MORNING// TUESDAY NIGHT

3 a./NORTH KOREA/ SOUTH KOREA

///NORTH KOREA

3B JAPAN

3c CHINA

end

4/EUROPEAN AFFAIRS

EU/VACCINE/VACCINE MANDATE

AUSTRIA

Tyranny plus!!! This is how the Austrians are going to enforce their compulsory vaccine shots

(Watson/SummitNews)

Austrians Being Stopped Randomly By Authorities And Forced To Prove They Are Vaccinated

WEDNESDAY, FEB 09, 2022 – 05:00 AM

Authored by Steve Watson via Summit News,

After Austria became the first European country to mandate COVID vaccines for the ENTIRETY of its population, details have emerged on how the government plans to enforce the measure.

Reports note that citizens will be stopped randomly in the street and pulled over in their vehicles and forced to comply with vaccine status checks by the ‘authorities.’

If, heaven forbid, a person is found to be unvaccinated they will be fined on the spot, with the penalty increasing for each violation.

A first ‘offense’ will mean a €600 ($687) fine, with subsequent violations reaching up to €3,400 ($3,890).

The Austrian government will check citizens’ vaccination status against their vaccine registry. Anyone found to not have two vaccines plus a booster will be punished accordingly.

The development confirms previous reports that the Austrian government will hire people to “hunt down vaccine refusers.”

Indeed, this is merely an official confirmation of what has already been happening in the country. After the government placed the unvaccinated under an unprecedented lockdown, footage emerged showing police patrolling shops and highways checking people’s vaccination status.

Days after imposing the lockdown on the unvaccinated, Austria hit a new COVID case record.

In addition, the Austrian government has shortened the period in which vaccinations remain valid, meaning citizens are required to receive their next dose 90 days earlier than previously.

SchengenVisaInfo News reports that “‘From February 1, 2022, two-dose vaccinations are only valid for 180 days in Austria (exception: 210 days for under 18-year-olds). However, for ENTERING, the 270 days remain in place. The booster vaccination is valid for 270 days in both scenarios,’” the Austrian authorities explained.”

The government has put a sunset on the law, for January… of 2024, meaning Austrians face at least another two years of COVID tyranny.

As we have previously reported, an amendment to the law could also see those who refuse to pay the fines for being unvaccinated imprisoned.

The amendment also orders people who are jailed to pay for their own imprisonment.

“If detention is carried out by the courts, the associated costs shall be recovered by the courts from the obligated party in accordance with the provisions existing for the recovery of the costs of enforcing judicial penalties,” it states.

No one will be “forcibly brought” to a vaccination center to get jabbed against their will, although rest assured, they will be “forcibly” placed behind bars if they continue to refuse.

It remains to be seen whether other European countries will follow suit. Several countries have begin to scrap restrictions, including vaccine passports. However, the EU wants to keep the passes in place for another entire year.

END

EUROPE/

European electricity prices soar after France cuts its nuclear outpout

(zerohedge)

European Electricity Prices Soar After France Cuts Nuclear Output Forecast

WEDNESDAY, FEB 09, 2022 – 02:45 AM

When we first heard yesterday that Europe’s largest energy producer, French EDF (Electricite de France) had paradoxcially again cut its nuclear output target for a second time in a month – despite already ridiculously high energy costs in France and across the continent – we had a very quick reaction: this would make Putin very happy as Europe would become even more reliant on Russian gas.

EDF said nuclear output is expected to fall to 295 and 315 terawatt-hours in 2022, down from an earlier forecast of 300 and 330 terawatt-hours. The last time the company’s nuclear production fell below 300 terawatt-hours was more than three decades ago. Further cuts to next year’s output could come when EDF reports results later this month, Morgan Stanley said in a report.

“When the target is close to or under 300 terawatt-hours, it starts to raise concerns for next winter in terms of supply and demand,” said Emeric de Vigan, chief executive officer at French energy analysis firm COR-e.

Sure enough, on Tuesday European electricity prices surged, just as expected, as energy traders responded to Electricite de France SA announcement that its nuclear production could fall this year to levels not seen since 1990, and Morgan Stanley says there’s a “meaningful likelihood” of a production cut for 2023. The shortfall has forced France to import electricity at times, tightening supplies in neighboring countries used to relying on the French nuclear giant to keep the lights on.

German year-ahead power, a European benchmark for electricity, spiked as much as 4.7% to 147 euros a megawatt-hour, while the March contract surged as much as 5.5%. The French contract for next year rose 7% to 162 euros, the highest level so far in 2022.

And putting this in context, we suspect ‘yellow jackets’ will not be pleased…

The French nuclear giant, once a source of national pride, has been grappling with several reactor outages that will hit earnings. Buying back 15 terawatt-hours of power at current prices will cost EDF 2.1 billion euros ($2.4 billion), or 8% of the company’s market capitalization, said Ahmed Farman, an analyst at Jefferies Group said.

France was Europe’s biggest net exporter of power in the second half of last year, sending the equivalent of 10% of its demand abroad, according to industry consultant Enappsys Ltd. Less nuclear output in 2022 will probably cut exports to nations from Germany and the U.K., increasing their exposure to high gas and coal prices for its power plants.

EDF shares fell as much as 4.5%, prompting Morgan Stanley to say that “these announcements are detrimental for sentiment on the stock and may encourage investors to wait longer before re-engaging on the name.”

As Bloomberg notes, while EDF’s reactors are the backbone of an increasingly integrated European power system, the fleet is getting more unreliable because of long periods of planned and unplanned maintenance. A slew of recent outages has worsened the energy crisis in Europe just as Russia is flowing less natural gas to the continent and tensions over Ukraine are running high. In effect, the EDF decision has made France – and Europe – more reliant on Russian gas exports, not less, at a time when Russian “energy cooperation” with Europe is increasingly a topic of hot debate.

It’s almost as if puppetmaster Putin is quietly running Europe’s energy infrastructure decisions behind the scenes in ways that are most beneficial to Russia. That, or Europe’s bureaucrats are a bunch of bumbling buffoons.

GERMANY/USA

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

SYRIA/RUSSIA/TURKEY//KURDS

Northern Syria a mess as fighting continues

(SouthFront)

War In Northern Syria Is Gaining Momentum

WEDNESDAY, FEB 09, 2022 – 03:30 AM

Submitted by SouthFront

As of February 6, Turkish forces and the Kurdish-led Syrian Democratic Forces (SDF) continue to exchange fire in Syria’s northern and northeastern regions, further destabilizing the situation in the war-torn country.

The Syrian Arab Army (SAA) was drawn into the stand-off between the two sides on February 4 when three of its service members were wounded as a result of a series of Turkish artillery strikes that targeted the SDF-held towns of Mara’naz, Shawargha and al-Irshadiyah in the northern countryside of Aleppo.

The SAA responded on the same day by targeting a vehicle of the Turkish-backed Mu’tasim Division near the town of Marea in the northern Aleppo countryside with an anti-tank guided missile. One militant was killed and two others were wounded as a result of the strike.

On the same day, the SDF shelled Marea as well. The attack resulted in some material damage and several civilians were wounded.

On February 5, a primitive suicide drone that was launched by Turkish-backed militants crashed as a result of a technical failure in the outskirts of the SDF-held town of Baylouniyah in the northern countryside of Aleppo. The target of the drone was likely a position of the SDF.

Turkey took matters into its own hands on February 6. Turkish combat drones targeted two positions of the SDF near the village of Arab Hassan in the northeastern countryside of Aleppo. However, no casualties were reported. According to the Syrian Observatory for Human Rights, both positions were evacuated before the strikes.

The situation in northern and northeastern Syria may escalate even more in the upcoming days, especially as Turkey appears to be looking for excuses to launch an operation against the SDF.

Meanwhile, in Syria’s central region, the Russian Aerospace Forces (VKS) continue its combat operations against ISIS cells.

On February 5, at least 16 Russian airstrikes targeted several caves and dens in the eastern Homs countryside and the Hama-Aleppo-Raqqa triangle where ISIS terrorists were hiding.

On February 6, more than 32 Russian airstrikes hit the terrorist hideouts near the town of Ithriyah in the eastern Hama countryside and the town of al-Resafa in the southern countryside of Raqqa.

The recent decline in ISIS attacks indicates that the terrorists group has sustained some serious damage as a result of the recent Russian and Syrian operations in the central region.

In Syria’s northwestern region, known as Greater Idlib, the ceasefire is still holding up despite a few minor ceasefire violations by the al-Qaeda-affiliated Hay’at Tahrir al-Sham (HTS) and its allies.

The VKS responded to these violations on February 6. A series of Russian airstrikes hit the outskirts of the town of Kafer Shalaya in the southern countryside of Idlib. The targets were likely positions belonging to HTS.

The situation in Greater Idlib may deteriorate in the upcoming days as the weather is getting better. This will allow HTS and its allies to carry out larger attacks.

Meanwhile in the southern Syrian regions, the situation has been calm. No security incidents were reported in al-Quneitra, Daraa or al-Suwayda as of February 7. However, there are no guarantees that the situation will remain stable in a short term.

Overall, the escalation between Turkish forces and the SDF in Syria’s northern and northeastern regions remain the biggest threat to the security and stability of the country. A full-on military confrontation between the two sides could break out soon.

END

NATO/USA/RUSSIA

NATO now considers a longer term presence in Poland as more USA troops arrive

(zerohedge)

NATO Considers “Longer Term” Presence In Eastern Europe As More US Troops Arrive In Poland

WEDNESDAY, FEB 09, 2022 – 07:00 AM

As the first waves of at least 2,000 US troops began arriving in Poland at the start of this week as part of the mission to bolster NATO’s ‘eastern flank’ amid Washington fears that Russia is poised to invade Ukraine “any day now” – the Western military alliance says its mulling a longer term military presence in Eastern Europe.

NATO Secretary-General Jens Stoltenberg indicated Monday that a “longer term” presence may be needed in Eastern Europe and that Brussels is reviewing the strategy as part of its force posture in face of Russia. 82nd Airborne Division and 18th Airborne Corp troops left Fort Bragg this weekend for Poland, via Reuters.

“We are considering more longer-term adjustments to our posture, our presence in the eastern part of the alliance. No final decision has been made on that but there is a process now going on within NATO,” Stoltenberg said at a press conference alongside Polish President Andrzej Duda.

Talking ‘tough’ at a moment France’s Macron was seeking a diplomatic breakthrough in his Monday summit with Putin in Moscow, Stoltenberg said, “If Russia really wants less NATO close to the borders, they get the opposite.”

This would mean that NATO troops rotated into the region would stay longer, or on a more permanent basis. Stoltenberg described NATO is considering the “deployment of additional battlegroups to the south-eastern part of the Alliance” a reference to Black Sea countries of Romania, Bulgaria, and Turkey.

While meeting with President Duda, Poland confirmed that troops from the US Army’s 82nd Airborne Division began arriving near the country over the weekend, touching down at a base near the Poland-Ukraine border.

Stoltenberg hailed the fresh US deployment as “a powerful demonstration of American commitment to our alliance. Other allies are also contributing more forces to NATO on land, in the air, and at sea.” This also as the UK has committed a few hundred additional troops to Poland.

So far, however, a matter of a few thousand extra troops Biden has ordered deployed to Eastern Europe is still just enough for symbolic posturing, and could do little to deter an actual Russian invasion of Ukraine if it ever materialized. The Kremlin has insisted there are no plans for such an offensive.

end

6// GLOBAL COVID ISSUES/VACCINE MANDATE ISSUES/

CORONAVIRUS/UPDATE/VACCINE MANDATE

https://dailyexpose.uk/2022/02/06/canadas-pandemic-of-the-fully-vaccinated

Seven out of every 10 COVID deaths are among the fully vaccinated and the Trudeau government are trying to cover this up

(Daily expose/UK)

Canada’s Pandemic of the Fully Vaccinated | 7 in every 10 Covid-19 Deaths are among the Fully Vaccinated according to official data; & Trudeau’s Government are trying to cover it up

BYTHE EXPOSÉONFEBRUARY 6, 2022•( 25 COMMENTS )

Listen Now

An investigation of official Government of Canada data has revealed that the fully vaccinated account for 9 in every 10 Covid-19 cases, and 7 in every 10 Covid-19 hospitalisations and deaths across Canada in the most recent wave of infections to hit the country.

This is despite just 6 in every 10 people in Canada being fully vaccinated; suggesting the Covid-19 injections do not only fail to work, they actually make recipients worse.

The Exposé is now heavily censored by Google, Facebook, Twitter and PayPal. Let’s not lose touch, subscribe today to receive the latest news from The Exposé in your inbox…

The Government of Canada is publishing its official Covid-19 data in a way that makes it appear Canada is very much experiencing a ‘Pandemic of the Unvaccinated’, and that the Covid-19 vaccines are clearly effective.

But the appearance of this data is a fraud, and it is extremely misleading, because by digging deeper we actually find that Canada is very much in the midst of a ‘Pandemic of the Fully Vaccinated’ and it is unfortunately getting worse by the week.

The Canadian Covid-19 figures are produced by the Government of Canada (see here).

Their latest data is available as a downloadable pdf here.

Page 20 onwards contains data on Covid-19 cases, hospitalisations and deaths from the very start of the Covid-19 vaccination campaign in Canada on 14th Dec 20 all the way through to 15th Jan 22.

Source

It is because the Government of Canada has chosen to present the figures as a total tally stretching back to 14th December 2020 that the figures are so incredibly misleading.

The following chart shows the number of Covid-19 deaths in Canada from March 2020 through to February 2022, and as you can see there was a huge spike in Covid-19 deaths around January 2021.

But at the same time as this huge spike in Covid-19 deaths, just 0.3% of the population of Canada were fully vaccinated by January 31st 2021.

FOR THE REST OF THE ARTICLE:

https://dailyexpose.uk/2022/02/06/canadas-pandemic-of-the-fully-vaccinated

END

CANADA

Canadian ‘Freedom Convoy’ Raises $7 Million On New Crowdfunding Platform

WEDNESDAY, FEB 09, 2022 – 09:35 AM

That didn’t take long…

Just days after the Canadian Freedom Convoy of truckers protesting in Ottawa and Alberta saw GoFundMe freeze and return the millions raised on the platform to support them, another 7-figure batch of funds has been raised on GiveSendGo, a “Christian” crowdfunding platform. As of Wednesday morning, some US$7.2 million (CAD$9.1 million) has been raised on the platform despite Canadian politicians’ best efforts to try and cut off all financial support for the movement.

The new campaign states that funds raised will help cover the cost of fuel for the truckers protesting across Canada. It will also help them pay for food and shelter and “help ease the pressure of this arduous task.”

GSG will even take care of payments, sending the money raised directly to “our bulk fuel supplier”, according to the organizers of the movement.

“In order for your generous donations to flow smoothly, the good people at GiveSendGo will be sending donations directly to our bulk fuel supplier and are working out the details now which means your hard earned money is going straight to who it was meant for and need not flow through anyone else,” the page description reads.
“Any left over donations will be donated to a credible veterans organization which will be chosen by the donors.”

In a statement issued Monday, GSG said the company had been in contact with campaign organizers and had received “full assurance” that all funds raised will go to providing humanitarian aid and legal support for the truckers and their allies.

The new campaign – launched after GoFundMe tried to steal nearly $10 million raised by the group’s supporters before ultimately deciding to refund the money to donors – states that funds raised will help cover the cost of fuel for the truckers protesting across Canada (which is especially critical as local police in Ottawa and elsewhere have seized fuel paid for by supporters of the truckers) and will also help with food and shelter costs “to help ease the pressures of this arduous task,”

For two weeks now, the truckers and their supporters have gathered in Ottawa and near Coutts, Alberta, to protest draconian vaccine requirements that effectively make it impossible for Canadian truckers to work unless they’re fully vaccinated. Antagonists have accused the truckers of blocking cross-border traffic and blockading the core of Ottawa’s downtown, shuttering businesses, clogging traffic, and generating lawsuit-provoking noise pollution. A judge ruled this week that truckers could be arrested for blowing their horns after 1900 Ottawa time.

Amazingly, the protests have attracted international attention and even copycat protests in Europe and elsewhere.

While information about donors, their location, and their intentions remains limited, Ottawa Police Chief Peter Sloly indicated in a press conference last week that the movement had significant ties to the US. Of course, it doesn’t take a genius to see that President Donald Trump and Fox News host Tucker Carlson have both spoken out in support of the truckers.

“We are now aware of a significant element from the US that have been involved in the funding, the organizing,” he said.

The organizers of the movement have insisted they will keep it up until Canadian politicians abandon the quarantine requirements and other COVID-related restrictions and vaccine requirements that inspired the movement to begin with. Already, the premier of Saskatchewan has spoken out calling for all COVID restrictions to be dropped.

END

Truckers Block Critical US-Canada Bridge For Third Day, Alternate Routes Become Congested

WEDNESDAY, FEB 09, 2022 – 01:08 PM

At least one hundred protesters and dozens of vehicles blocked traffic between the busiest commercial crossing between the U.S. and Canada, the Ambassador Bridge, for the third day on Wednesday as some truckers have been given orders to re-route deliveries hundreds of miles to avoid logjams.

“Problems for motorists heading toward the U.S. border continue. The Ambassador Bridge between Windsor and Detroit remains closed,” according to CityNews Toronto’s traffic reporter Kyle Hocking.

Detroit’s WWJTraffic provides a traffic camera view of a highway that leads to the bridge, showing what appears to be hundreds of trucks in gridlock. The local news outlet said, ” Ambassador Bridge into Canada remains closed.”

Looking at traffic cam footage of a section of the bridge from Canada into the U.S., limited activity appears.

Footage of the bridge into Canada also appears to be limited to no activity.

Supply chain website FreightWaves sheds more color onto the Ambassador Bridge situation, also saying the critical bridge “remained closed as several dozen vehicles, including some trucks, continued to block an access road from the Canadian side.”

These reports seem contrary to Bloomberg’s headlines on Tuesday afternoon that said the “Ambassador Bridge reopened to trucks after protest closure.”

We noted a logistical nightmare is playing out on the U.S.–Canada border in the Detroit area as trucks carrying goods have had to shift their routes. There have been some instances that truckers have detoured hundreds of miles.

Protests against the COVID-19 vaccine mandate for truckers stretches into the third day could be problematic for Detroit’s auto industry and may cause it to come to a “screeching halt” if part suppliers from Canada cannot deliver parts.

END

Sweden Declares The Pandemic To Be “Over”

BY TYLER DURDEN

WEDNESDAY, FEB 09, 2022 – 03:43 PM

Authored by Paul Joseph Watson via Summit News,

Sweden, a country which never imposed significant lockdown measures, has officially declared that the COVID-19 pandemic is “over” and announced that it will be lifting all remaining restrictions.

“As we know this pandemic, I would say it’s over,” Minister of Health Lena Hallengren told Dagens Nyheter. “It’s not over, but as we know it in terms of quick changes and restrictions it is.”

According to Reuters, these comments were as close as possible to the country “effectively declaring the pandemic over.”

From today, bars and restaurants are allowed to stay open beyond 11pm again and there are no limits on guest numbers.

Attendance limits for indoor venues and vaccine passports, which were temporarily introduced in response to the Omicron variant, have both been scrapped.

Most testing rules for COVID-19 have also been abolished.

Sweden being the first country to declare the pandemic a done deal will be sure to infuriate lockdown fanatics and mask zealots.

Despite being on the receiving end of an intense backlash, the country’s approach of refusing to impose harsh lockdown restrictions has been completely vindicated.

Unlike other Europeans countries such as France and Spain which imposed draconian lockdown rules, Sweden’s COVID-19 death rate is comparatively better and the country is exiting the pandemic while other nations are refusing to lift restrictions for at least months more.

The Scandinavian country did not enforce strict mask mandates, with senior epidemiologist Anders Tengell asserting that face coverings were in fact “dangerous” because they provided a false sense of security while failing to stop the spread of the virus.

As we highlighted in October 2020, Sweden again refused to follow other European countries by re-imposing lockdown rules, arguing that those beset by loneliness and misery of being isolated had suffered enough.

Congratulations, Sweden.

end

Watch “LILLEY UNLEASHED: Trudeau is not up to the job of uniting Canadians” on YouTube

Inbox

GLOBAL ISSUES/INFLATION

VACCINE IMPACT

Truckers Block Windsor-Detroit Border as Saskatchewan Premier Scott Moe Announces End of Vaccine Mandates

February 8, 2022 1:59 pm

The Canadian Trucker Freedom Convoy entered its 11th day today, as two border crossings from Canada to the U.S. were closed down by protesters. Rebel News is reporting that the Alberta – Montana border at Coutts has been closed again, this time by farmers. The border crossing in Alberta was not the only border closed down overnight, however, as the bridge between Windsor and Detroit was also blocked and shut down. Ian Miles Cheong of Rebel News reports: “The Ambassador Bridge that connects Windsor, Ontario to Detroit, Michigan has been completely blockaded by a convoy of trucks protesting the COVID-19 vaccine mandates, which remains ongoing in Canada’s capital city of Ottawa. Efforts by the Freedom Convoy further in the north spilled over to the border crossing, the largest international suspension bridge and a major transportation artery between the United States and Canada as protesters blocked traffic on Monday evening. Speaking to the Detroit Free Press, Gregg Ward, the president of Detroit-Windsor Truck Ferry said that the bridge closing is unprecedented and that the last time the bridge closed for a protest was in 1990.” Meanwhile, back in Alberta, Pastor Artur Pawlowski was arrested, again, as he tried to join the protesters in Coutts. Rebel News is reporting that he was arrested by an undercover SWAT team that had staked out his home in Calgary. In Saskatchewan, Premier Scott Moe announced today that all proof of vaccine mandates in Saskatchewan will end this coming Sunday. He did not reference the Truckers Convoy, but instead used the excuse that the COVID-19 vaccines were “not effective” in stopping transmission of the current variant, Omicron, and that therefore the mandates are no longer needed. Since he erroneously stated that the vaccines were effective for past variants of COVID-19, he obviously left the door open to issue mandates again in the future, and of course never mentioned just how deadly these shots are, especially for children. In fact, his Chief Medical Health Officer, Dr. Saqib Shahab, followed his remarks by encouraging children to get one of the deadly shots. However, Premier Scott Moe said it was “time to heal” and time for people in Saskatchewan to come together and stop judging their neighbors and others in their community for having differences of opinion on the wearing of masks and getting vaccines. Will this announcement now pave the way for the rest of the Canadian Government to end vaccine mandates while still “saving face” and not referencing the Trucker Convoy protests?

The Sick and Twisted Culture of Disney and ABC

February 8, 2022 6:03 pm

Project Veritas released a recording of ABC anchor Amy Robach’s hot mic on how that network spiked and killed the Jeffrey Epstein story. She specifically mentions the “palace” (British Royals) as being behind the killing of the story. Question: Who, precisely, in the Disney-ABC complex made the decision to kill it? We want names. Come out from underneath your slimy rocks. Disney Chairman Richard Cook took trips on Epstein’s jet, dubbed the “Lolita Express,” which scuttled guests to Epstein’s pedo-island paradise. Then he was appointed to chairman. Increasingly, Disney has been using their cartoons and shows to sexualize young children. Indeed, Disney Pixar’s John Lasseter took leave amid harassment scandals. Recently, unsealed Epstein documents revealed that victim Virginia Roberts-Giuffre had named, among others, Sen. George Mitchell (D-Maine) as one of her rapists. Mitchell served as chairman of Walt Disney Company from March 2004 until January 2007. Director of music publishing at Disney, Jon Heely, was arrested on three counts of lewd and lascivious acts on a child and is accused of abusing two underage girls. Disney V.P. Michael Laney was convicted of sexually abusing a 7-year-old girl. He was sentenced to more than six years in prison.

Michael Every

on the major topics of the day

Michael Every…

Rabobank: While We Are Waiting For CPI… A Train Of Thought

WEDNESDAY, FEB 09, 2022 – 09:10 AM

By Michael Every of Rabobank

Train of Thought

Although US 10-year yields are already playing dangerously close to the psychological 2% level, nobody is going to get excited about any economic data until Thursday’s US CPI report. As such, attention can still be focused on the Ukraine crisis. In particular, a steady train of diplomacy against a backdrop of Russian naval vessels entering the Bosporus en route to the Black Sea, and Russian trucks right next to the Ukraine border.

French President Macron returned from his six-hour meeting with President Putin around the world’s largest table (“Pass the salt, please.” …2 minutes later…”Thanks. Pass the pepper, please.”) with a promise that sounded a lot like “Je suis revenu d’Russie avec la paix pour notre époque”.

Details remain unclear, but Macron did not tell reporters “Finlandization” of Ukraine was an option on the vast table, as the New York Times reported. However, he did refer to the fact that Finland made/makes its own choice not to join NATO (to avoid Russian wrath). Macron plugged the Minsk accords, which mean Russian-occupied Donbas gaining autonomy within Ukraine. Yet critics say this could mean the region being able to veto Kyiv actions, which is worse than Finlandization, i.e., not having your own foreign or defence policy. The @kyivindependent suggests President Zelenskiy did not buy what was being sold around a much smaller table when he met Macron afterwards.

Meanwhile, the EU may be struggling to stay united despite a façade of unity: German Chancellor Scholz, President Macron, and President Duda of Poland all stood together in Berlin, but Scholz emphasized we “must prevent a war in Europe”; Macron, that we need “new security and stability”; and Duda that we “will leave no-one behind.” On the united EU/Berlin front, we just published a report underlining the existential pressures the Ukraine metacrisis is placing on Germany: “Ich Bin Ein Berliner”? As a bonus, it also features donuts.

As we wait for US CPI Thursday and to see what will happen geopolitically, allow me to relay a personal anecdote.

I worked in Moscow in the mid-1990s, for the experience not the salary, having been mis-sold it by a close friend who promised me ”Champagne, grilled prawns, and jazz clubs”. He was right about the Soviet champagne at least. Deep in winter, I was told to open a new branch in Rostov-on-Don, and on a Saturday morning I and an assistant, Sasha, were put into a second-class train compartment for the long journey.

Our two huge cabin companions started drinking immediately. We declined, waited a few hours, and went to the restaurant to pass the time. There were only two other customers. One heard my accent, and asked where I was from. When I told him I was British, he shouted: “I am Georgian! St. George!!” The other customer cried he was from Abkhazia. A scuffle broke out. I left as one was pinning the other to the floor with his knee, as the bored waitress looked on.

Back in our cabin, the two Russians were snoring like walruses. Sasha and I tried and failed to read, and then to get some sleep. This was going to be a painful night, I thought. And how right I was.

At 1am the train stopped and we heard voices saying “Passport!” Puzzled, I asked Sasha why this was happening when we were travelling from Moscow, in Russia, to Rostov-on-Don, in Russia. He went pale, saying “They booked train via Ukraine! They forgot you only have single-entry Russian visa!”

In came the border guards. Out came my passport. Off the train we were taken.

Given I did not have a Ukrainian visa, we spent the night in a Kharkiv detention centre, where the facilities were ‘limited’. A large uniformed man interrogated me. He couldn’t read English and was puzzled by my passport, particularly that the expiration date was “02” (2002). “There is no year zero-two!”, he declared victoriously, as if this proved I was a spy. Hours later, he finally relented and put us, dishevelled, back on the train to Moscow. We got on and fell asleep.

45 minutes later the train stopped. We heard voices saying “Passport!” We had re-entered Russia, and I did not have a valid visa to do so.

This time we were taken off the train to a Russian detention centre, where the facilities were ‘limited’, but better than in Kharkiv. A large uniformed man interrogated me. He couldn’t read English and was puzzled by my passport, particularly that the expiration date was “02” (2002). “There is no year zero-two!”, he declared victoriously, as if this proved I was a spy.

Frankly, I had dark sleep-deprived visions of living on trains shuttling back and forth between Russian and Ukrainian detention centres: there were already rumours flying around of people who were trapped like that in the former USSR. I remember planning to ask Sasha to go to the British embassy and send someone to try to find me.

Sasha decided to plead instead, explaining the simple mistake that had been made by Moscow staff who had forgotten there were now barriers in the way of what used to be one country. Hours later, the uniformed Russian finally relented and put us, exhausted, back on the train to Moscow.

I still want to thank both that man and his Ukrainian counterpart in Kharkiv for not forcing me into what would have been a ‘The Terminal’-style crisis. I hope they are both still doing well in the year 2022 despite all the fighting that has happened since in that area. Obviously, here’s hoping that the current Russia-Ukraine crisis can find a happy ending too.

Yet I must also add that markets, without a deep regional/geopolitical ground game, fail to see how large the current tail risks are, as we stressed in our new Germany report and ‘The Ukraine Metacrisis’ note that preceded it. Indeed, a friend in the industry told me yesterday that they were just asked by someone in their sales team to help update their slide-deck to encompass all the permutations possibly flowing on from what is now happening, having previously not included the subject at all. I told them to send one new slide saying:

“Ремонт”; or

“Сегодня концерта не будет”.

7. OIL ISSUES

8 EMERGING MARKET& AUSTRALIA ISSUES

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

AUSTRALIA

END

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

Euro/USA 1.1433 UP .0012 /EUROPE BOURSES //ALL GREEN

USA/ YEN 115.46 DOWN 0.075 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3572 UP 0.0026

Last night Shanghai COMPOSITE CLOSED UP 27.32 PTS OR 0.70%

Hang Sang CLOSED UP 500.50 PTS OR 2.06%

AUSTRALIA CLOSED UP 1.12% // EUROPEAN BOURSES OPENED ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES ALL GREEN

2/ CHINESE BOURSES / :Hang SANG CLOSED UP 500.50 PTS OR 2.06%

/SHANGHAI CLOSED UP 27.32 PTS OR 0.70%

Australia BOURSE CLOSED UP 1.12%

(Nikkei (Japan) CLOSED UP 295.35 PTS OR 1.08%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 1826.25

silver:$23.22-

USA dollar index early WEDNESDAY morning: 95.44 DOWN 21 CENT(S) from TUESDAY’s close.

THIS ENDS WEDNESDAY MORNING NUMBERS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing WEDNESDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 1.02% DOWN 4 in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +0.208% up 0 AND 0/10 BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 1.08%// DOWN 5 in basis points yield from yesterday.

ITALIAN 10 YR BOND YIELD 1.77 DOWN 8 points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 72 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALL TO +0.212% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.56% AND NOW ABOVE THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR WEDNESDAY

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

Euro/USA 1.1439 UP .0019 or 19 basis points

USA/Japan: 115.42 DOWN 0.110 OR YEN UP 110 basis points/

Great Britain/USA 1.3555 UP 8 BASIS POINTS

Canadian dollar UP 30 pts to 1.2676

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The USA/Yuan, CNY: closed ON SHORE (CLOSED )..UP 6.3627

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)..6.3666

TURKISH LIRA: 13.55 EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.

the 10 yr Japanese bond yield at +0.208

Your closing 10 yr US bond yield DOWN 4 IN basis points from TUESDAY at 1.925% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield: 2.225 DOWN 3 in basis points

Your closing USA dollar index, 95.43 DOWN 22 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 WEDNESDAY: 12:00 PM

London: CLOSED UP 76.44 PTS OR 1.01%

German Dax : CLOSED UP 230.29 points or 1.51%

Paris CAC CLOSED UP 96.60PTS OR 1.31%

Spain IBEX CLOSED UP 159.20PTS OR 1.84%

Italian MIB: CLOSED UP 678.02 PTS OR 2.57%

WTI Oil price 90.21 12: EST

Brent Oil: 91.45 12:00 EST

USA /RUSSIAN / RUBLE RISES: 74.57 THE CROSS LOWER BY 33 RUBLES/DOLLAR (RUBLE HIGHER BY 33 BASIS PTS)

GERMAN 10 YR BOND YIELD; +.212

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.1423 UP .0027 OR 27 BASIS POINTS

British Pound: 1.3533 DOWN .0014 or 14 basis pts

USA dollar vs Japanese Yen: 115.53 DOWN .0020

USA dollar vs Canadian dollar: 1.2677 DOWN .0029 (cdn dollarUP 27 basis pts)

West Texas intermediate oil: 89.94

Brent: 91.72

USA 10 yr bond yield: 1.944 DOWN 2 points

USA 30 yr bond yield: 2.250 DOWN 1/2 pts

DOW JONES INDUSTRIAL AVERAGE: UP 305.28 PTS OR 0.86%

NASDAQ 100 UP 309.93 OR 2.10%

VOLATILITY INDEX: 19.96 DOWN 1.48 PTS (DOWN 6.90.%

GLD/NYSE CLOSING PRICE $171.21 UP $0.58 OR 0.34%

SLV/NYSE CLOSING PRICE: $21.53// UP $.08 OR 0.37%

end)

USA trading day in Graph Form

Traders Buy Bonds, Stocks, Crypto, & Commodities Ahead Of CPI ‘Event Risk’

WEDNESDAY, FEB 09, 2022 – 04:02 PM

“Buy all the things” was the message from on-high today as bonds, stocks, gold, crude, copper, and crypto all rallied on JPM initiated rumors that tomorrow’s CPI may come in light and the reassuring words of Cleveland Fed’s Mester who said – with a straight face that “long-run inflation expectations are still well anchored”… despite The Fed’s own data mocking her…

Source: Bloomberg

“You keep using that word. I do not think it means what you think it means.”

Building on the last-hour ramp yesterday, US equities were almost a one-way street higher today with Nasdaq (up 2%) and Small Caps outperforming (there was another last-hour trend shift)…

Nasdaq rallied back into the green for Feb (joining the rest of the majors (Small Caps up over 2% in Feb)…

S&P ramped up to its 100DMA and stalled

“Most Shorted” stocks are up 4 straight days, up over 9% – the biggest squeeze since late October…

Source: Bloomberg

And what’s most worrisome is the scale of short positioning is rip for a huge squeeze…

Treasury yields were mixed today with the short-end underperforming (2Y +2bps, 10Y -2bps) even with some late-day selling pressure…

Source: Bloomberg

Interestingly, given that the CPI rumors were ‘blamed’ for the rally today, potentially easing the aggressive hawkish needs of The Fed to act soon, STIRs actually shifted in a more hawkish manner with a 50% chance of a 6th rate-hike now priced in…

Source: Bloomberg

The dollar slipped again today, erasing all of the post-payrolls gains…

Source: Bloomberg

Bitcoin rallied again today – up 7 days in a row – pushing back above $44k…

Source: Bloomberg

This is the 20th time it has achieved such a run since the pandemic roiled markets. The mean return over over three days, five days and 20 days is 4.1%, 5.3% and 18.5% respectively after such stretches, according to data compiled by Bloomberg.

Copper ripped higher today, breaking out to its highest since Oct 2021…

WTI ended higher after a bigger than expected inventory draw (topping $90 intraday)…

Gold continued its slow and steady rise (up 8 of the last 9 days), heading back towards a ‘Golden Cross’ in its averages. Gold has almost erased all the post-Fed losses…

Finally, for asll those who still believe the ‘market’ is about ‘fun-durr-mentals’, shit’s about to get real as multiples collapse with central bank liquidity…

Brace! Or pray for Powell to get back to work.

I) MORNING/AFTERNOON TRADING/

II) USA DATA

end

IIb) USA COVID/VACCINE MANDATE STORIES

The science changed? what is the change that she is talking about

(Watson/SummitNews)

CNN ‘Doctor’: “The Science Has Changed” So Lift COVID Restrictions

WEDNESDAY, FEB 09, 2022 – 10:50 AM

Authored by Steve Watson via Summit News,

Despite nothing changing at all, CNN’s resident ‘doctor’ Leana Wen claimed this week that “the science has changed” and so COVID restrictions including mask mandates should now be rescinded.

Wen failed to cite any studies or data that shows the science has changed.

Wen, who started to admit some weeks ago that masks don’t work in stopping the spread of COVID, stated that “the decision to wear a mask should shift from a government mandate to an individual choice.”

She added that kids in schools should not be forced to wear masks because it can be harmful and makes it harder for them to learn.

Watch:

As recently as two months ago, Wen was advocating for the Biden administration to “further restrict the activities of the unvaccinated.”

Wen also previously entrenched a segregated society when she blamed people who hadn’t taken the jab for a COVID-19 “surge” while asserting “we can’t trust the unvaccinated.”

Wen also called for making it “hard for people to remain unvaccinated” by restricting their social freedoms.

She asserted that, “It needs to be hard for people to remain unvaccinated,” claiming that it wasn’t currently difficult (despite the group being demonized and discriminated against on a daily basis).

Wen also previously stated that children returning to school need to be forced to wear industrial grade face masks and should be subjected to weekly COVID tests until they are fully vaccinated.

Suddenly all of this has changed for Wen.

It just happens to coincide with the beginning of election season, and Democrats now moving away from lockdown policies they previously vehemently advocated over fears about being wiped out politically.

end

NY to ditch indoor mask mandate, yet LA county warns it could remain for weeks or months

(zerohedge)

New York To Ditch Indoor Mask Mandate While LA County Warns Its Could Remain For ‘Weeks Or Months’

WEDNESDAY, FEB 09, 2022 – 11:50 AM

New York Gov. Kathy Hochul is planning to lift the Empire State’s mask mandate this week – what the NYT described as a “watershed moment” in New York’s struggle against COVID – a decision that follows a similar move by NJ Gov. Phil Murphy made earlier this week.

According to an NYT preview of Hochul’s decision (which she confirmed in an announcement released just before noon, in New York) the governor “was not swayed” by similar moves made by neighboring Democrat-controlled states (*cough* New Jersey *cough*) and is basing her decision “purely on the latest data and consultations with public health experts” – including her talks with Dr. Anthony Fauci.

On Tuesday, the governor became more comfortable with the latest metrics, which indicated that bed capacity at hospitals in the state was at about 4%, down from a peak of 23% on Jan. 2. As for masks in schools, Hochul says she will wait until March before she stops to reassess.

While NY is keeping its mask mandate in schools – for now, at least – Massachusetts has just decided that its school mask mandate will end on Feb. 28.

The decision will have a “far reaching” impact on public settings in the state, including businesses from retail shops to restaurants and malls – and workplaces as well.

Once Hochul’s decision has been made, these places would no longer be required to enforce “mask-wearing” or ask for “proof of vaccination” unless they choose to do so on their own.

Unfortunately for students and their parents, Hochul’s move wouldn’t impact requirements that students and teachers wear masks at school. That decision is set to expire on Feb. 21, and it’s unclear whether the governor wll move to extend it, or not.

“I am optimistic that we’re trending in that direction, but I still need the time,” said Ms. Hochul, who met virtually with a group of school officials on Tuesday afternoon.

While plenty of New Yorkers will be relieved, in other states and counties, they haven’t been as lucky. While California prepares to lift its indoor mask mandate next week, the state’s most populous county – LA County – has established itself as a notable hold out, thanks to the decision-making skills of its “SJW” Director of the Department of Public Health, Barbara Ferrer.

Ferrer, who isn’t a doctor and whose background focuses on health-care “access”, not the actual provision of health-care, said yesterday that LA County will not follow the state’s guidelines to lift masking mandates. Instead, the mandate will remain in effect for weeks, if not months, the Epoch Times reports.

Why? Well, Ferrer “clarified” the requirements for the county to drop the mask mandate for both outdoor and indoor spaces. To go mask-free outdoors, including mega-events, schools, and childcare facilities, the county has to be considered as “post-surge” – with less than 2,500 hospitalizations for seven consecutive days. In New York, the current 7-day hospitalization rate is roughly 2,900 patients. So, if that rate is “good enough” for the densely populated NYC (not to mention the rest of the state) to lift its masking requirements, why must LA County be any different?

Furthermore, Ferrer is insisting that vaccines must be available for children under 5 “for at least 8 weeks” before masking requirements are lifted. The jabs are expected to be approved for the youngest Americans by the end of this month.

That’s bad news for anybody who plans on attending the Super Bowl, which will take place in Los Angeles this weekend.

In both NY and California, hospitalizations have fallen sharply in recent weeks.

First, here’s New York:

Source: NYT

And now, California:

Source: LA Times

Looking at the US as a whole, COVID cases have plunged, while deaths have more or less plateaued.

And hospitalizations have fallen sharply.

That means people in LA County might be among the last in the country to see their indoor masking requirements shot down, even as omicron cases in the US have fallen dramatically.

END

He talks garbage!

Fauci Talks Fourth Dose, Eventually Ending Restrictions In US

WEDNESDAY, FEB 09, 2022 – 03:01 PM

White House Covid-19 adviser Anthony Fauci says that Americans may be looking at a fourth jab in order to be fully vaccinated depending on things such as “age, as well as underlying conditions.”

While speaking at a Wednesday CDC briefing, Fauci said that the decision over a fourth dose would depend on data collected after the third dose.

“You measure laboratory phenomenon, but you measure the real-world data on the efficacy in preventing, for example, hospital visits as well as hospitalizations,” he said. “And I believe that you’re going to be hearing data about that as the data become available.”

Meanwhile, Fauci told the Financial Times that there’s no way to fully eliminate Covid-19, but that the United States is past the “full-blown” Covid-19 pandemic phase.

“We are looking at a time when we have enough people vaccinated and enough people with protection from previous infection that the COVID restrictions will soon be a thing of the past,” he said.

As the Epoch Times‘ Jack Phillips notes (emphasis ours):

Fauci’s reference to prior infection, known as “natural immunity,” is notable because, for months, Fauci and other top federal health officials have solely pushed COVID-19 vaccines as the way to defeat the pandemic. Last year, during interviews with the press, Fauci would often downplay natural immunity in favor of vaccines.

In the interview Tuesday, Fauci also suggested that booster shots may not be needed for all Americans.

“It will depend on who you are,” he said. “But if you are a normal, healthy 30-year-old person with no underlying conditions, you might need a booster only every four or five years.”

Meanwhile, in the near future, the government response to the pandemic will be primarily handled at the local level with little federal involvement. He didn’t say specifically when COVID-19 restrictions such as mask or vaccine mandates would end but could be done away with “soon,” according to the Financial Times.

“As we get out of the full-blown pandemic phase of COVID-19,” Fauci told the paper. “Which we are certainly heading out of, these decisions will increasingly be made on a local level rather than centrally decided or mandated. There will also be more people making their own decisions on how they want to deal with the virus.”

His remarks come as several Democrat-led states such as California, New Jersey, Delaware, and New York have moved to rescind mask mandates statewide, although some municipalities have opted to keep them. Some federal officials, including Centers for Disease Control and Prevention (CDC) Director Rochelle Walensky, also still favor masking in certain settings.

“We continue to endorse universal masking in schools,” Walensky told Reuters this week, adding that federal officials will “continue to recommend masking in areas of high and substantial transmission—that is essentially everywhere in the country in public indoor settings.”

A recent spike in COVID-19 cases fueled by the Omicron variant has dropped across most of the United States in recent days. Hospitalizations from the CCP virus have also fallen significantly over the past two weeks or so, according to federal data.

The moves to simultaneously ease rhetoric on COVID-19 and end certain restrictions come just months before the 2022 midterm elections as Democrats have thin majorities in both houses of Congress. A Jan. 31 Monmouth poll found that at least 70 percent of Americans agree that “it’s time we accept that COVID is here to stay.”

end

iii) USA inflation commentaries//LOG JAMS//

Used Car Prices Arrive At Yet Another Major Inflection Point

WEDNESDAY, FEB 09, 2022 – 08:50 AM

The Manheim Used Vehicle Value Index, a wholesale tracker of used car prices, rose to a new record high in January. Prices of wholesale used cars continued to move higher. Still, there are emerging signs momentum wanes on a monthly basis, which may suggest another potential inflection point — this one may actually be credible in light of growing speculation that supply chains are easing as chip shortages may improve.

Over the last year, the used car market boomed because of a chip shortage for new vehicles. The latest data from Manheim shows that even though prices increased for January, momentum is stalling (and, in fact reversing). Manheim Used Vehicle Value Index expanded slightly to 236.3 last month, up 45% from a year ago. The non-adjusted price change declined about a percent compared to December, leaving the unadjusted average price up 40.8% year-over-year.

The chart below is the Manheim Used Vehicle Value Index on a monthly timeframe with two single-banded momentum indicators showing yet another infect point. The last two infection points turned out to be false flags as the index powered higher on persistent supply chain woes. Now we have credible leading indicators that may suggest this time is different.

There’s growing speculation from JP Morgan that global supply chain constraints have passed their climax. Focusing on major transpacific shipping lanes, we find container prices have reversed in some cases. Shipping rates are leading indicators that may suggest chip shortage could soon abate.

Last month, Jared Bernstein, a member of Biden’s Council of Economic Advisers, revealed used car prices should “revert” once “underlying supply constraint eases.”

Bernstein reflects on the following chart, adding that: “I find this to be a remarkable and revealing figure re a big contributor to the current inflation. It’s the last 20 years of used cars contribution to the yr/yr inflation rate (Source: BLS). Its average: 0.

For one, it’s a reminder of how extremely unusual this current inflation is. The world has not forgotten how to produce new (and thus used) cars and we should expect this series to revert once the underlying supply constraint eases.”

Bernstein said, “the heart of that constraint is the global shortage of semiconductors, which also serves as a reminder that elevated inflation is a global problem. ” He added that one way to alleviate component shortages is to build more factories in the US and simplify the complex supply chain that stretches around the world. We should note that implementing such a policy and building domestic factories will take years to complete.

While we’ve identified a potential inflection point for used car prices, nothing is locked in, and there’s still a chance prices could move higher. But if snarled supply chains resolve ever so slightly and chip shortages ease, there’s the possibility that a peak in used car prices could be seen in the near term.

end

iv)swamp stories

What planet is Biden on?

Biden Admin Funding Free Crack Pipes To Promote ‘Racial Equity’

TUESDAY, FEB 08, 2022 – 09:05 PM

The Biden administration is finalizing funding to promote “racial equity” by handing out free glass crack pipes for drug addicts to smoke crack cocaine, crystal methamphetamine or any other “illicit substance.”Comedian Dave Chappelle as fictional crackhead Tyrone Biggums

The new $30 million grant program from the Health and Human Services (HHS) department will provide funds to local governments and nonprofits for “smoking kits/supplies,” according to the Washington Free Beacon.

HHS said the kits aim to reduce the risk of infection when smoking substances with glass pipes, which can lead to infections through cuts and sores. Applicants for the grants are prioritized if they treat a majority of “underserved communities,” including African Americans and “LGBTQ+ persons,” as established under President Joe Biden’s executive order on “advancing racial equity.”

Not everyone’s a fan.

“If we look at more of a preventive campaign as opposed to an enabling campaign, I think it will offer an opportunity to have safer communities with fewer people who are dependable on these substances,” Sgt. Clyde Boatwright, president of the Maryland Fraternal Order of Police told the Beacon.

The move follows those by Democratic-run cities such as San Francisco and Seattle, which have distributed smoking kits to residents.

This is the view of the taxpayer-funded supervised drug consumption and drug dealing site in United Nations Plaza, a public space in downtown San Francisco.

Around this site, which was taken over without authorization, are armed and violent drug dealers whose deadly, addictive, and intoxicating products kill two San Franciscans per day.

“We’re literally paying people in the form of cash welfare, housing, and other services to live in tents on the street, use hard drugs, defecate publicly, and commit crimes,” says Michael Shellenberger, author of “San Fransicko: Why Progressives Ruin Cities.”

Other municipalities such as Louisville, KY, have backed away from said programs on the grounds that they enable drug abuse.

Funding for the program comes from the Democrats’ American Rescue Plan, which narrowly passed along party lines. It also includes money for other equipment such as condoms, fentanyl strips and disease screenings. It will last three years and includes 25 awards of up to $400,000.

Perhaps Hunter Biden can be his father’s new crack czar – for which he’s infinitely more qualified than serving on the board of a Ukrainian energy company.

end

KING REPORT/SWAMP STORIES

China State Funds Are Said to Buy Stocks to Stem Worsening Rout

Benchmark CSI 300 Index pared bulk of its 2.4% intraday loss
State-backed funds said to have to bought mainland shares

Chinese state-backed funds intervened in the stock market on Tuesday…
https://finance.yahoo.com/news/china-state-funds-said-buy-095323613.html

Worst to come for food price rises, Tesco boss says
The chairman of Britain’s biggest supermarket has warned “the worst is yet to come” on rising food prices… https://www.bbc.com/news/business-60279019

Bond Rout Wipes Out Europe Government Investors’ Pandemic Return

Bloomberg government bond index falls to lowest since 2019

A plummet in European bond prices on the prospect of the European Central Bank withdrawing its stimulus has erased two-and-a-half years of gains… https://t.co/ZrVR6OSIgB

The US 10-year yield hit 1.96% on Tuesday. The 2-year note hit 1.33%, which indicates the Fed is 133bps behind the curve. @McClellanOsc: 2-year T-Note yield versus Fed Funds target.
https://twitter.com/McClellanOsc/status/1491089755513450499

Despite China’s intervention in its stock market, ESHs waffled between gains and losses until they rallied sharply after Europe opened. After peaking at 4:37 ET (4496.50), ESHs tumbled to a session low of 4456.25 at 10:02 ET. ESHs and stocks then vacillated until 10:44 ET. Then, someone manipulated ESHs 36 handles higher by noon ET.

Pfizer Stock Drops After Earnings. Guidance Fell Short of Estimates.
Pfizer revenue for the fourth quarter was $23.8 billion, up 105% from the same quarter in 2020.
https://t.co/FU8V0nZb0P

Pfizer Quietly Adds Language Warning That ‘Unfavorable Pre-Clinical, Clinical or Safety Data’ May Impact Business – in Q4 they added: “or further information regarding the quality of pre-clinical, clinical or safety data, including by audit or inspection.”… More from Brown, who notes that Pfizer is now highlighting “concerns about clinical data integrity…”… The company also notes that Covid-19 may “diminish in severity or prevalence or disappear entirely.”…
https://www.zerohedge.com/covid-19/pfizer-quietly-adds-language-warning-unfavorable-pre-clinical-clinical-or-safety-data-may

U.S. household debt increased by $1 trillion in 2021, the most since 2007
The total debt balance is now $1.4 trillion higher than it was at the end of 2019… Over $4.5 trillion in mortgages were originated in 2021, reaching a historic high for the database, which goes back to 1999. Mortgage balances increased by $258 billion in the fourth quarter to $10.93 trillion at the end of December… http://reut.rs/3oxpJ4W

JPMorgan Strategists See Sure-Fire Sign It’s Time to Buy Stocks
VIX buy signal has proven 100% accurate outside of recessions
JPMorgan strategists have identified what they say is a near bulletproof indicator to strengthen their argument that stock markets are poised to rally. The buy signal is triggered when the Cboe Volatility Index (VIX) rises by more than 50% of its 1-month moving average, which it last did Jan. 25, according to the strategists led by Mislav Matejka. The indicator has proven 100% accurate outside of recessions over the last three decades… https://t.co/xTXrYrnlm3

IHS Markit Investment Manager Index™ (IMI™)
US equity investors remain risk averse amid mounting headwinds

Macro environment seen as least supportive since late-2020 with anticipated drag from monetary and fiscal policy hitting new highs
Political environment biggest drag since 2020
Financials and energy stocks remain most favored, as utilities, tech, communications and real estate continue to lose appeal
Earnings expectations revised lower for Q1… https://t.co/TwLGUnQpf5

Mike Tirico Is Returning Early from The Olympics for Unknown Reason
Tirico discussed China’s genocide of ethnic minorities during his Olympic coverage… He also mentioned that China is the “nation where Covid began.”…
    American corporations are notoriously weak when it comes to dealing with China. They’d rather bend the knee than grow a spine…
https://dailycaller.com/2022/02/07/mike-tirico-returning-early-olympics-nbc-china-genoice-comments/

New Data: Covid Was Never More Dangerous to Young Adults and Children Than Seasonal Flu
“UK data: Covid19 was never significantly more dangerous to children than seasonal influenza (left, 2020),” he remarked on Twitter. Below is a chart on lethality by age:…
https://beckernews.com/new-data-covid-was-never-more-dangerous-to-young-adults-and-children-than-seasonal-flu-44040/

@ClayTravis: So, Jeff Zucker gets fired and suddenly @cnn’s top health expert goes on the network and says covid restrictions should end & parents should get to decide whether their kids wear masks in schools. This is a wild pivot:   https://twitter.com/ClayTravis/status/1490887339706441730

@ggreenwald: As others noted, there is nothing in The Science™ that changed to justify Dem politicians suddenly ending mask mandates. All that changed is the political fear they have. Conflating “The Science” with politics like this is a key reason many lost trust in public health experts.

@GovRonDeSantis (R-FL): The medical science on forced masking children didn’t change — the political science did. In Florida, we never imposed state mask mandates, and we liberated children and parents from the local authorities that did. We hope every jurisdiction will follow suit.

More Unreleased Stacey Abrams Maskless School Photos
OutKick has obtained more photos from Abrams’ visit to Glennwood Elementary School last week, showing how Abrams spent the entire day maskless while the children remained masked up…
https://www.outkick.com/more-unreleased-stacey-abrams-maskless-school-photos/

Pentagon’s Leaked Data Show Explosion of Vaccine-Related Injuries Among Military Service-Members  https://beckernews.com/2-pentagons-leaked-data-show-explosion-of-vaccine-related-injuries-among-military-service-members-44045/

@SharylAttkisson: Now that you see, it might make you wonder what they did with the vaccine-autism science. It should.

Outrage as Trudeau smears anti-vax mandate Freedom Convoy as ‘swastika-wavers’ https://trib.al/XB8pV3Q

Hunter Biden sought ‘forever’ deal with China military-tied firm: emails https://trib.al/VK7WJh1

Justice Department signals it might be willing to allow safe injection sites for people to use heroin and other drugs – Justice Department signals it might be willing to allow safe injection sites for people to use heroin and other drugs
https://abcnews.go.com/Health/wireStory/justice-department-signals-safe-injection-sites-people-heroin-82729429

Biden administration to fund programs that hand out crack pipes to prevent infection and promote ‘racial equity’ (Not a parody!!!) Included in the grant is money to purchase ‘safe smoking kits/supplies’
    Handing out pipes is also intended to prompt users to smoke rather than inject themselves with some substances, like meth, as injection is far riskier…Applicants for the program get priority if they serve ‘underserved communities,’ such as African Americans or Native Americans, or LGBTQ people…
https://www.dailymail.co.uk/news/article-10487091/Biden-administration-fund-handing-crack-pipes-addicts-improve-racial-equity.html

GOP @RepTroyNehls: The @CapitolPolice Intelligence Division investigated my office illegally and one of my staffers caught them in the act. On November 20th, 2021, Capitol Police entered my office without my knowledge and photographed confidential legislative products protected by the Speech and Debate clause enshrined in the Constitution, Article 1 Section 6.
    Two days later on Monday November 22, 2021 (Thanksgiving week), three intelligence officers attempted to enter my office while the House was in recess. Upon discovering a member of my staff, special agents dressed like construction workers began to question him as to the contents of a photograph taken illegally two days earlier…
    They had no authority to photograph my office, let alone investigate myself or members of my staff. So, why is the Capitol Police Leadership maliciously investigating me in an attempt to destroy me and my character? Maybe it is because I have been a vocal critic of @SpeakerPelosi, the @January6thCmte, and @CapitolPolice leadership about their handling of January 6th, the death of Ashli Babbitt and the subsequent SHAM investigation. (What aren’t more Americans concerned about State Police use?)

Inspector General Opens Investigation Into U.S. Capitol Police Following Allegations Of Spying On Members Of Congress, Staff    https://thefederalist.com/2022/02/08/inspector-general-opens-investigation-into-u-s-capitol-police-following-allegations-of-spying-on-members-of-congress-staff/

Chicago Mayor Lightfoot: Carjacking ‘crisis’ is linked to remote learning   https://t.co/t2IE95PUD8

end

Let us close out the week with this offering courtesy of Greg Hunter interviewing one of my favourite economists; John Williams

Fed Rate Hike Will Cause Hyperinflationary Great Depression – John Williams | Greg Hunter’s USAWatchdog

Fed Rate Hike Will Cause Hyperinflationary Great Depression – John Williams

By Greg Hunter On February 8, 2022 In Market Analysis15 Comments

By Greg Hunter’s USAWatchdog.com

Economist John Williams says the economy is in deep trouble, and the Fed knows it. Williams says the Fed talking up “robust economic growth” that is causing inflation is “nonsense.” Williams explains, “The one thing that is not causing inflation is ‘robust economic growth.’ So, when they talk about raising interest rates to kill this robust economic growth that’s triggering the inflation, that’s absurd, and the Fed knows it. . . . If the Fed foolishly raised rates as reflected in the payrolls as not being fully recovered, you are going to have a sharp downturn, a double dip depression here. At the same time, you are still going to have the inflation. You are going to end up with an inflationary depression or a hyper-inflationary Great Depression.”

According to Williams’ forecast, “In terms of a crash, I am looking for much higher inflation, maybe hyperinflation, and I am looking for the economy to crash. You can address the inflation by personally holding physical gold and silver.”

So, jobs are going to disappear? Williams says, “They already have, but hopefully all the effects of the pandemic will disappear, and people will get back to work, but that is not happening now. There is no sign of it getting better. In fact, the numbers are indicating it’s getting worse. . . . The holiday retail economy in November and December declined at the worst pace since the Great Recession. You had a negative holiday shopping season. That’s not a booming economy.”

On top of that, Williams says the real inflation rate is 14.8 %, if you disregard all the gimmicks the government uses to make inflation look less than what it really is. Williams says, “That’s the highest inflation rate since the Truman Administration.”

In short, Williams points out, “The Fed has to keep the system liquid. So, the money is going to continue to flow, and they cannot afford to raise interest rates. If the Fed raises interest rates, it’s going to crash the economy from where it is now, and the economy is not healthy.”

Williams says buy physical gold and silver and hold it against the inflation that is here to stay and will get worse.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with John Williams, founder of ShadowStats.com, as he explains how bad the economy really is. (2.8.22)

(To Donate to USAWatchdog.com Click Here)

After the Interview:

There is much free information on the homepage of ShadowStats.com.

Fed Rate Hike Will Cause Hyperinflationary Great Depression – John Williams

end

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

Gijs@regency-silver.com	4:13 PM (14 minutes ago)
to Gijsbert, Michael, me, Tcosta@crescat.net, Bruce

Steve Organ	12:07 PM (2 minutes ago)
to me

Milan Sabioncello	11:45 PM (15 minutes ago)
to me

Greg Hunter via aweber.com	9:18 PM (1 hour ago)
to Harvey

FEB 9

DONATE

NUMBER OF NOTICES FILED TODAY FOR FEB. CONTRACT: 13 NOTICE(S) FOR 1300 OZ (0.0404 TONNES)

total notices so far: 16,819 contracts for 1,681,900 oz (52.314 tonnes)

1/COMEX GOLD AND SILVER REPORT

3. ASIAN AFFAIRS

b) REPORT ON JAPAN

3 C CHINA

4/EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

6.Global Issues

7. OIL ISSUES

8 EMERGING MARKET ISSUES

Craig Hemke at Sprott Money: On rates and gold

Ed Steer: Deja vu all over again

Poland bank buying 100Tonnes

Global Silver Demand Forecast To Reach A Record 1.112 Billion Ounces In 2022

agricultural commodities breaking out

Wall Street Cartel Pumps Billions into Crytpo

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

Futures, Global Markets Jump As Bond Rout Eases

3 a./NORTH KOREA/ SOUTH KOREA

3c CHINA

4/EUROPEAN AFFAIRS

Austrians Being Stopped Randomly By Authorities And Forced To Prove They Are Vaccinated

European Electricity Prices Soar After France Cuts Nuclear Output Forecast

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

War In Northern Syria Is Gaining Momentum

NATO Considers “Longer Term” Presence In Eastern Europe As More US Troops Arrive In Poland

6// GLOBAL COVID ISSUES/VACCINE MANDATE ISSUES/

Canada’s Pandemic of the Fully Vaccinated | 7 in every 10 Covid-19 Deaths are among the Fully Vaccinated according to official data; & Trudeau’s Government are trying to cover it up

Canadian ‘Freedom Convoy’ Raises $7 Million On New Crowdfunding Platform

Truckers Block Critical US-Canada Bridge For Third Day, Alternate Routes Become Congested

Sweden Declares The Pandemic To Be “Over”

Watch “LILLEY UNLEASHED: Trudeau is not up to the job of uniting Canadians” on YouTube

Truckers Block Windsor-Detroit Border as Saskatchewan Premier Scott Moe Announces End of Vaccine Mandates

February 8, 2022 1:59 pm

The Sick and Twisted Culture of Disney and ABC

February 8, 2022 6:03 pm

Michael Every

Rabobank: While We Are Waiting For CPI… A Train Of Thought

Train of Thought

7. OIL ISSUES

8 EMERGING MARKET& AUSTRALIA ISSUES

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

Traders Buy Bonds, Stocks, Crypto, & Commodities Ahead Of CPI ‘Event Risk’

CNN ‘Doctor’: “The Science Has Changed” So Lift COVID Restrictions

New York To Ditch Indoor Mask Mandate While LA County Warns Its Could Remain For ‘Weeks Or Months’

Fauci Talks Fourth Dose, Eventually Ending Restrictions In US

Used Car Prices Arrive At Yet Another Major Inflection Point

Biden Admin Funding Free Crack Pipes To Promote ‘Racial Equity’

Fed Rate Hike Will Cause Hyperinflationary Great Depression – John Williams

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