APRIL 18//ALL THE PRECIOUS METALS RISE: GOLD UP $11.20 TO $1983.00//SILVER UP 38 CENTS TO $25.91//PLATINUM UP $21.80 TO $1014.75/AND PALLADIUM UP 98 DOLLARS TO $2434.15//COMEX GOLD STANDING FOR DELIVERY IN APRIL RISES BY A STRONG QUEUE JUMP OF 6400 OZ: NEW STANDING 81.807 TONNNES//SILVER ALSO HAS A STRONG QUEUE JUMP OF 290,000 OZ: NEW STANDING 6.3 MILLION OZ///FRANCE REPATRIATES ALL OF ITS REMAINING GOLD FROM ENGLAND//ALASDAIR MACLEOD…A MUST READ//COVID UPDATES FROM CHINA AS SHANGHAI CONTINUES TO BE STRANGLED BY LOCKDOWNS//RUSSIA VS UKRAINE VS WEST UPDATES//LAKE POWELL WATER LEVELS AT HISTORIC LOWS//TWITTER VS ELON MUSK UPDATES//SWAMP STORIES FOR YOU TONIGHT//

april18, 2022 · by harveyorgan · in Uncategorized · Leave a comment·Edit

GOLD;  $1983.00 UP 11.20

SILVER: $25.91 UP $0.38

ACCESS MARKET: GOLD $1979.00

SILVER: $25.87

Bitcoin morning price:  $39,089 DOWN 654 

Bitcoin: afternoon price: $40,585 UP 842

Platinum price: closing UP $21.80 to $1014.75

Palladium price; closing UP 98.45  at $2434/15

END

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comex notices/

: JPMorgan stopped/total issued  23/75

EXCHANGE: COMEX
CONTRACT: APRIL 2022 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,970.900000000 USD
INTENT DATE: 04/14/2022 DELIVERY DATE: 04/19/2022
FIRM ORG FIRM NAME ISSUED STOPPED


072 C GOLDMAN 2
132 C SG AMERICAS 16
363 H WELLS FARGO SEC 1
365 C ED&F MAN CAPITA 2
435 H SCOTIA CAPITAL 1
624 H BOFA SECURITIES 5
657 C MORGAN STANLEY 4
661 C JP MORGAN 65 23
709 C BARCLAYS 10
737 C ADVANTAGE 8 1
880 H CITIGROUP 10
905 C ADM 2


TOTAL: 75 75
MONTH TO DATE: 25,202



NUMBER OF NOTICES FILED TODAY FOR  APRIL. CONTRACT 75  NOTICE(S) FOR 7500 OZ  (0.2332  TONNES)

total notices so far:  25,202 contracts for 2,520,200 oz (78.388 tonnes)

SILVER NOTICES: 

113 NOTICE(S) FILEd 565,000   OZ/

total number of notices filed so far this month  1199  :  for 5,885,000  oz

END

Russia is a major supplier of silver to London while Mexico supplies the COMEX

With the sanctions, London has no way to obtain silver other than compete with NY.

END

GLD

WITH GOLD UP $11.20

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

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//

A HUGE CHANGE IN GOLD INVENTORY AT THE GLD A HUGE WITHDRAWAL OF 4.93 TONNES FROM THE GLD//

INVENTORY RESTS AT 1099.49 TONNES

Silver//SLV

WITH NO SILVER AROUND AND SILVER UP $0.38 CENTS

AT THE SLV// A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WHOPPING DEPOSIT OF 5.771 MILLION OF INTO THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

CLOSING INVENTORY: 575.447 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE


SILVER COMEX OI ROSE BY A STRONG SIZED  1151 CONTRACTS TO 166,380   AND CLOSER TO THE NEW RECORD OF 244,710, SET FEB 25/2020 AND THE HUGE GAIN IN OI WAS ACCOMPLISHED DESPITE OUR  $0.25 LOSS  IN SILVER PRICING AT THE COMEX ON THURSDAY.  OUR BANKERS WERE  SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.25) BUT WERE  UNSUCCESSFUL IN KNOCKING OUT ANY SILVER LONGS  AS WE HAD A VERY STRONG GAIN OF 2212 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 STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A STRONG INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 4.305 MILLION OZ FOLLOWED BY TODAY’S QUEUE. JUMP  OF 290,000 OZ//NEW STANDING: 6.300 MILLION OZ//  V)    HUGE SIZED COMEX OI GAIN/

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


THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI SILVER TODAY: CONTRACTS  : —-401

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

TOTAL CONTACTS for 11 days, total 8926  contracts:  44.630 million oz  OR 4.05MILLION OZ PER DAY. (811 CONTRACTS PER DAY)

TOTAL NO OF OZ UNDERGOING EFP TO LONDON 8926 CONTRACTS X 5,000 PER CONTRACT:

EQUATES TO: 44.630 MILLION OZ 

.

LAST 11 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:  72.39 MILLION OZ//

MARCH: 207.430  MILLION OZ//A NEW RECORD FOR EFP ISSUANCE AND WE ARE STILL GOING STRONG THIS MONTH.

APRIL: 41.330 MILLION OZ (LOOKS LIKE OUR BANKERS ARE NOW LOATHE TO ISSUE EFP’S)

RESULT: WE HAD A VERY STRONG  SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1151 DESPITE OUR  $0.25 LOSS IN SILVER PRICING AT THE COMEX// THURSDAY  THE CME NOTIFIED US THAT WE HAD A STRONG  SIZED EFP ISSUANCE  CONTRACTS: 660 CONTRACTS ISSUED FOR MAY 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 HUGE INITIAL SILVER OZ STANDING FOR MAR. OF 4.305 MILLION  OZ  FOLLOWED BY TODAY’S 290,000 OZ QUEUE JUMP//NEW STANDING: 6.300MILLION OZ///  .. WE HAD AN HUGE SIZED GAIN 1811 OI CONTRACTS ON THE TWO EXCHANGES FOR 9.055 MILLION  OZ WITH THE  LOSS IN PRICE. 

 WE HAD 113  NOTICES FILED TODAY FOR 565,000 OZ

THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 3734 CONTRACTS  TO 575,296 AND  CLOSER TO 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:  -101 CONTRACTS.

THE BIS HAS ABANDONED THE GOLD COMEX TRADING!!!

.

THE  FAIR SIZED DECREASE IN COMEX OI CAME WITH OUR STRONG LOSS IN PRICE OF $8.95//COMEX GOLD TRADING/THURSDAY /.AS IN SILVER WE MUST  HAD  HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR SMALL SIZED EXCHANGE FOR PHYSICAL ISSUANCE. WE HAD SOME LONG LIQUIDATION   

WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR APRIL AT 78.33 TONNES ON FIRST DAY NOTICE 

YET ALL OF..THIS HAPPENED WITH OUR LOSS IN PRICE OF   $8.95 WITH RESPECT TO MONDAY’S TRADING

WE HAD A FAIR SIZED LOSS OF 2870  OI CONTRACTS (8.926 PAPER TONNES) ON OUR TWO EXCHANGES

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED  864 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 575,296.

IN ESSENCE WE HAVE A FAIR SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 287-, WITH 3733 CONTRACTS DECREASED AT THE COMEX AND 864 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS ON THE TWO EXCHANGES OF 2870 CONTRACTS OR 8.926 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (864) ACCOMPANYING THE FAIR SIZED OSS IN COMEX OI (3734,): TOTAL LOSS IN THE TWO EXCHANGES  2870 CONTRACTS. WE NO DOUBT HAD 1) HUGE BANKER SHORT COVERING ,2.) HUGE INITIAL STANDING AT THE GOLD COMEX FOR APRIL. AT 78.33 TONNES FOLLOWED BY TODAY’S 6400 OZ QUEUE JUMP //NEW STANDING 81.807 TONNES///  3) SOME LONG LIQUIDATION ///. ,4) FAIR SIZED COMEX  OI. LOSS 5) SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL/

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2022 INCLUDING TODAY

APRIL

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

24,926 CONTRACTS OR 2,492,600 OR 77.53  TONNES 11 TRADING DAY(S) AND THUS AVERAGING: 2266 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 11 TRADING DAY(S) IN  TONNES: 77.53TONNES

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

THUS EFP TRANSFERS REPRESENTS  74.53/3550 x 100% TONNES  2.11% 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.           175.62 TONNES//FINAL ISSUANCE// 

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

MARCH:  409.30 TONNES INITIAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.

APRIL:  77.53 TONNES (THIS IS GOING TO BE A LOW ISSUANCE MONTH)

SPREADING OPERATIONS

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

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW ACTIVE FRONT MONTH OF MAY.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 APRIL HEADING TOWARDS THE  ACTIVE DELIVERY MONTH OF MAY, FOR SILVER:

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.”

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

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

1.Today, we had the open interest at the comex, in SILVER, ROSE BY A VERY STRONG SIZED 1151 CONTRACT OI  AND CLOSER TO  OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  5 YEARS AGO.  

EFP ISSUANCE 660 CONTRACTS

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

MAY 660  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 0 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI GAIN OF 1151 CONTRACTS AND ADD TO THE 660 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A VERY STRONG SIZED GAIN OF 1811 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. 

THUS IN OUNCES, THE GAIN  ON THE TWO EXCHANGES 9.055 MILLION OZ

OCCURRED WITH OUR  LOSS OF  $0.25 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)MONDAY MORNING// SUNDAY  NIGHT

SHANGHAI CLOSED DOWN 15.72 PTS OR 0.49% //Hang Sang CLOSED   /The Nikkei closed DOWN 293.48 PTS OR 1.08%        //Australia’s all ordinaires CLOSED   /Chinese yuan (ONSHORE) closed UP 6.3654    /Oil UP TO 106.95 dollars per barrel for WTI and UP TO 112.02 for Brent. Stocks in Europe OPENED  ALL GREEN       //  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.3654 OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3754: /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER//

a)NORTH KOREA

outline

b) REPORT ON JAPAN/

OUTLINE

3 C CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 3734 CONTRACTS TO 575,296  AND FURTHER FORM THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020). AND THIS SMALL COMEX INCREASE OCCURRED WITH OUR  STRONG LOSS OF $8.95 IN GOLD PRICING THURSDAY’S COMEX TRADING. WE ALSO HAD A FAIR SIZED EFP (1975 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 APRIL..  THE CME REPORTS THAT THE BANKERS ISSUED A SMALL SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS 864 EFP CONTRACTS WERE ISSUED:  ;: ,  . 0 JUNE :864 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  864 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 FAIR SIZED  TOTAL OF 2870 CONTRACTS IN THAT 864 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A FAIR SIZED  COMEX OI LOSS OF 3734  CONTRACTS..AND  THIS GAIN OCCURRED WITH OUR STRONG LOSS IN PRICE OF GOLD $8.95

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR APRIL   (81.807),

 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

YEAR 2022:

JANUARY 2022  17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 81.807

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $8.80) AND  AND WERE  UNSUCCESSFUL IN FLEECING ANY LONGS AS WE HAVE  REGISTERED A FAIR SIZED GAIN  OF 10.466 TONNES ON TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR APRIL (81.807 TONNES)

WE HAD — 181  CONTRACTS REMOVED FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT

NET LOSS ON THE TWO EXCHANGES 2870 CONTRACTS OR 287,000 OZ OR 8.926TONNES

Estimated gold volume today: 128,266/// extremely poor

Confirmed volume yesterday: 144,178 contracts  poor

INITIAL STANDINGS FOR APRIL ’22 COMEX GOLD //APRIL 18

GoldOunces
Withdrawals from Dealers Inventory in oznil oz
Withdrawals from Customer Inventory in oz10,709.418 oz
Brinks
Delaware
115 kilobars
Deposit to the Dealer Inventory in oznil
OZ 
Deposits to the Customer Inventory, in oz33,184.442 oz
HSBC
No of oz served (contracts) today75  notice(s)7500 OZ
1.660 TONNES
No of oz to be served (notices)1099 contracts 109,900 oz
2.318 TONNES
Total monthly oz gold served (contracts) so far this month25,202 notices
2,520,200 OZ
78.388 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this monthNIL oz
Total accumulative withdrawal of gold from the Customer inventory this monthxxx oz

For today:

dealer deposits  0

total dealer deposit  nil oz//

No dealer withdrawals

1 customer deposit

i) Into HSBC:  33,184.442 oz.

total customer deposit  33,184.442 oz

2 customer withdrawals

i) Out of Brinks 6915.000 oz

ii) Out of Delaware: 3697.365 oz (115 kilobars)

total customer withdrawal: 10,709.418  oz /

ADJUSTMENTS:    dealer to customer/Manfra:   15,658.732 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR APRIL.

For the front month of APRIL we have an  oi of 1174 contracts having LOST 564 contracts

We had 628 notices filed yesterday so we GAINED  64 contracts or an additional  6400 oz will stand for delivery at the comex

May saw a GAIN of 45 contracts to stand at 3559

June saw a LOSS of 3586 contracts UP to 474,860 contracts

We had 75 notice(s) filed today for 62,800  oz FOR THE APRIL 2022 CONTRACT MONTH. 


Today, 0 notice(s) were issued from J.P.Morgan dealer account and  65 notices were issued from their client or customer account. The total of all issuance by all participants equates to 75 contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and   23 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 2  notice(s) received (stopped) by the squid  (Goldman Sachs)

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

we take the total number of notices filed so far for the month (25,202) x 100 oz , to which we add the difference between the open interest for the front month of  (APRIL1174  CONTRACTS ) minus the number of notices served upon today  75 x 100 oz per contract equals 2,630,100 OZ  OR 81.807 TONNES the number of TONNES standing in this  active month of APRIL. 

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

No of notices filed so far (25,202) x 100 oz+   (1174)  OI for the front month minus the number of notices served upon today (75} x 100 oz} which equals 2,630,100 oz standing OR 81.807 TONNES in this   active delivery month of APRIL.

We GAINED 6400 additional oz that will stand for delivery on this side of the pond.

TOTAL COMEX GOLD STANDING:  81.807 TONNES  (A WHOPPER FOR AN APRIL ( ACTIVE) DELIVERY MONTH)

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

191,133,764.7, oz NOW PLEDGED /HSBC  5.94 TONNES

99,258.893 PLEDGED  MANFRA 3.08 TONNES

54,339.114oz PLEDGED JPMorgan no 1  1.690 tonnes

243,923.704, oz  JPM No 2  7.58 TONNES

898,821.330 oz pledged  Brinks/27,96 TONNES

International Delaware::  0

Loomis: 18,615.429 oz

total pledged gold:  1,884,464.742 oz                                     58.61 tonnes

TOTAL REGISTERED AND ELIG GOLD AT THE COMEX: 35,949,194.185  OZ (1118,17 TONNES)

TOTAL ELIGIBLE GOLD: 18,291,795.924  OZ (568.95 tonnes)

TOTAL OF ALL REGISTERED GOLD: 17,653,398.261 OZ  (549.09 tonnes)

REGISTERED GOLD THAT CAN BE SERVED UPON: 15,768,934.0 OZ (REG GOLD- PLEDGED GOLD)  490.48 tonnes

END

APRIL 2022 CONTRACT MONTH//SILVER//APRIL 18

SilverOunces
Withdrawals from Dealers InventoryNIL oz
Withdrawals from Customer Inventory555,134.681  oz
Brinks
Deposits to the Dealer Inventory253,194.500OZ
Manfra
Deposits to the Customer Inventory581,004.800 oz
JPM
No of oz served today (contracts)113CONTRACT(S)
565,000  OZ)
No of oz to be served (notices)61 contracts (305,000 oz)
Total monthly oz silver served (contracts)1199 contracts 5,995,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this monthNIL oz
Total accumulative withdrawal of silver from the Customer inventory this month
 this month

And now for the wild silver comex results

we had 1 deposit into the dealer

i) Into Manfra: 253,194.500 oz

total dealer deposits:  253,194.500      oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

We have 1 deposits into the customer account

i) Into JPMorgan: 581,004.800 oz

total deposit:  581,004.800   oz

JPMorgan has a total silver weight: 177.053 million oz/335.460 million =52.77% of comex 

i) Comex withdrawals: 1

ii) Out of Brinks 555,134.681 oz

total withdrawal 555,134.681    oz

1 adjustments:  dealer to customer//Manfra 215,997.700  oz

the silver comex is in stress!

TOTAL REGISTERED SILVER: 86.385 MILLION OZ

TOTAL REG + ELIG. 335.460 MILLION OZ

CALCULATION OF SILVER OZ STANDING FOR APRIL

silver open interest data:

FRONT MONTH OF APRIL OI: 174, HAVING GAINED 52 CONTRACTS FROM MONDAY.  We had 6 notices filed yesterday,

so we GAINED 58 contracts or an additional 290,000 oz will  stand on this side of the pond

MAY HAD A LOSS OF 3353 CONTRACTS DOWN TO 66,508 contracts

JUNE HAD A GAIN OF 28 TO STAND AT 1005

 .

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 113 for 565,000 oz

Comex volumes: 59,796// est. volume today//  fair/

Comex volume: confirmed yesterday: 64,973 contracts (  fair )

To calculate the number of silver ounces that will stand for delivery in APRIL. we take the total number of notices filed for the month so far at 1199 x 5,000 oz = 5,995,000oz 

to which we add the difference between the open interest for the front month of APRIL (174) and the number of notices served upon today 113 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the APRIL./2021 contract month: 1199 (notices served so far) x 5000 oz + OI for front month of APRIL (174)  – number of notices served upon today (113) x 5000 oz of silver standing for the APRIL contract month equates 6,300,000 oz. .

We GAINED 58  contracts or an additional 290,000 oz will  stand on this side of the pond 

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

END

GLD AND SLV INVENTORY LEVELS:

APRIL 18/WITH GOLD UP $11.20: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.93 TONNES FROM THE GLD..//INVENTORY RESTS AT 1099.44 TONNES

APRIL 14/WITH GOLD DOWN $8.90: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A  DEPOSIT OF 11.32 TONNES INTO THE GLD..//INVENTORY RESTS AT 1104.42 TONNES

APRIL 13/WITH GOLD UP $8.80: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1093.10 TONNES

APRIL 12/WITH GOLD UP $26.95: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.61 TONNES INTO THE GLD///INVENTORY REST AT 1093.10 TONNES

APRIL 11/WITH GOLD UP $3.40 //A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.74 TONNES OF GOLD INTO THE GLD.//INVENTORY RESTS AT 1090.49 TONNES

APRIL 8/WITH GOLD UP $7.70: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.45 TONNES INTO THE GLD//INVENTORY RESTS AT 1088.75 TONNES

APRIL 7/WITH GOLD UP $13.40: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1087.30 TONNES

APRIL 6/WITH GOLD DOWN $4.10: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.68 TONNES FROM THE GLD..//INVENTORY RESTS AT 1087.30 TONNES

APRIL 5/WITH GOLD DOWN $5.70: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.75 TONNES FROM THE GLD//INVENTORY RESTS AT 1089.98 TONNES

APRIL 4/WITH GOLD UP $.70//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1091.73 TONNES

APRIL 1///WITH GOLD DOWN $19.00 : A SMALL CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .29 TONNES INTO THE GLD///INVENTORY RESTS AT 1091.73 TONNES

MARCH 31/WITH GOLD UP $13.30 TODAY: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD FROM MONDAY A WITHDRAWAL OF 1.71 TONNES FROM THE GLD:INVENTORY RESTS AT 1091.44

MARCH 28/WITH GOLD DOWN $14.65: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1093.18 TONNES

MARCH 25/WITH GOLD DOWN $7.60 : A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 5.52 TONNES INTO THE GLD///INVENTORY RESTS AT 1093.18 TONNES

MARCH 24/WITH GOLD UP $24.95: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 4.06 TONNES INTO THE GLD..//INVENTORY RESTS AT 1087.66 TONNES

MARCH 23/WITH GOLD UP $15.75//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1083.60 TONNES

MARCH 22/WITH GOLD DOWN $7.75: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.16 TONNES OF GOLD DEPOSITED INTO THE GLD//INVENTORY RESTS AT 1083.60 TONES

MARCH 21//WITH GOLD UP $.25 : A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 9.00 TONNES INTO THE GLD////INVENTORY RESTS AT 1082.44 TONES

MARCH 18/WITH GOLD DOWN $13.55 NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1073.44 TONES

MARCH 17/WITH GOLD UP $33.50: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 11.61 TONNES INTO THE GLD//INVENTORY RESTS AT 1073.44 TONNES

MARCH 16/WITH GOLD DOWN $18.50//A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.33 TONNES FROM THE GLD///INVENTORY RESTS AT 1061.83 TONNES

MARCH 15/WITH GOLD DOWN $30.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1064.16 TONNES


MARCH 14//WITH GOLD DOWN $22.75, HUGE CHANGES IN GOLD INVENTORY AT THE GLD//STRANGE: A DEPOSIT OF 2.62 TONNES INTO THE GLD.//INVENTORY RESTS AT 1064.16 TONNES

MARCH 11/WITH GOLD DOWN $14.60: A BIG CHANGE IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 1.74 TONNES FROM THE GLD////INVENTORY RESTS AT 1061.54 TONNES

MARCH 10//WITH GOLD UP $11.55: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.06 TONNES FORM THE GLD///INVENTORY RESTS AT 1063.28 TONNES

MARCH 9/WITH GOLD DOWN $53.85//A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 4.64 TONNES INTO THE GLD//INVENTORY RESTS AT 1067.34 TONNES

MARCH 8/WITH GOLD UP $46.10: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 8.42 TONNES INTO THE GLD///INVENTORY RESTS AT 1062.70 TONNES

MARCH 7/WITH GOLD UP $28.40 A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 4.06 TONNES INTO THE GLD..//INVENTORY RESTS AT 1054.28 TONNES

MARCH 4/WITH GOLD UP $28.40//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1050.22 TONNES

CLOSING INVENTORY FOR THE GLD//1099.44 TONNES

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

APRIL 18/WITH SILVER UP 38 CENTS: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 5.771 MILLION OZ INTO THE SLV./INVENTORY RESTS AT 575.447 MILLION OZ//

APRIL 14/WITH SILVER DOWN 25 CENTS : A MONSTROUS CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.355 MILLION OZ INTO THE SLV.//INVENTORY RESTS AT 569.676 MILLION OZ//

APRIL 13/WITH SILVER UP 27 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 565.521 MILLION OZ

APRIL 12/WITH SILVER UP 66 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 565.521 MILLION OZ//

APRIL 11/WITH SILVER UP 13 CENTS: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 831,000 OZ FORM THE SLV////INVENTORY RESTS AT 565.521 MILLION OZ

APRIL 8/WITH SILVER  UP 11 CENTS :NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 566.352 MILLION OZ//

APRIL 7/WITH SILVER UP 27 CENTS : NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 566.352 MILLION OZ//

APRIL 6/WITH SILVER DOWN 9 CENTS : NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 566.352 MILLION OZ

APRIL 5/WITH SILVER DOWN 16 CENTS : A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.386 MILLION OZ INTO THE SLV..//INVENTORY RESETS AT 566.352 MILLION OZ//

APRIL 4/WITH SILVER DOWN 5 CENTS TO CHANGES IN SILVER INVENTORY AT THE SLV//: A DEPOSIT OF 6.326 MILLION OZ//INVENTORY REST AT 564.966 MILLION OZ//

APRIL 1/WITH SILVER DOWN 39 CENTS A BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.302 MILLION OZ INTO THE SLV////INVENTORY REST AT 558.647 MILLION OZ//

MARCH 31/WITH SILVER UP 3 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV//A DEPOSIT OF 2.171 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 556.345 MILLION OZ

MARCH 28/WITH SILVER DOWN 30 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.847 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 554.167 MILLION OZ//

MARCH 25/WITH SILVER DOWN 20 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 552.320 MILLION OZ//

MARCH 24/WITH SILVER UP 54 CENTS TODAY; A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.092 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 552.320 MILLION OZ//

MARCH 23/WITH SILVER UP 24 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 550.288 MILLION OZ//

MARCH 22/WITH SILVER DOWN $0.29 TODAY : NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 550.288 MILLION OZ//

MARCH 21/WITH SILVER UP 16 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 550.288 MILLION OZ//

MARCH 18/WITH SILVER DOWN 37 CENTS TODAY: A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.217 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 550.288 MILLION OZ//

MARCH 17/ WITH SILVER UP 72 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 3.049 MILLION OZ INTO THE SLVV//INVENTORY RESTS AT 548.071 MILLION OZ

MARCH 16/WITH SILVER DOWN 56 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 462,000 OZ FROM THE SLV//INVENTORY RESTS AT 544.560 MLLION O

MARCH 15/WITH SILVER DOWN 18 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 545.022 MILLION OZ

MARCH 14/WITH SILVER DOWN 64 CENTS TODAY; STRANGE A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.125 MILLION OZ/INVENTORY RESTS AT 545.022 MILLIONOZ

MARCH 11/WITH SILVER DOWN 13 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 542.897 MILLION OZ

MARCH 10/WITH SILVER UP 39 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 542.897 MILLION OZ/

MARCH 9/WITH SILVER DOWN 88 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 5.174 MILLION OZ OF FAKE SILVER.//INVENTORY RESTS AT 542.897 MILLION OZ//

MARCH 8/WITH SILVER UP 88 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.217 MILLION OZ INTO THE SLV////INVENTORY RESTS A 548.071 MILLION OZ//

MARCH 7/WITH SILVER UP 40 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 545.854 MILLION OZ//

MARCH 4/WITH SILVER UP 50 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 545.854 MILLION OZ/

SLV FINAL INVENTORY FOR TODAY: 575.447 MILLION OZ//

PHYSICAL GOLD/SILVER STORIES

1.PETER SCHIFF

If The Fed Is Fighting Inflation Why Is The Balance-Sheet Still Expanding?

MONDAY, APR 18, 2022 – 09:07 AM

Authored by Michael Maharrey via SchiffGold.com,

If the Fed is fighting inflation and has ended quantitative easing, why is its balance sheet still going up?

In the week ending April 13, the balance sheet grew by $27.9 billion, hitting a new record of $8.965 trillion. This is up about $3 billion from its previous high in March.

As Peter Schiff put it in a tweet, “For all the talk of fighting inflation and shirking its balance sheet, the Fed continues creating more inflation and expanding its balance sheet!”

At the end of March, it looked as if the Fed had ended QE. The balance sheet fell between March 21 and March 28 but then increased slightly the following week prior to the nearly $28 billion increase last week.

Looking at the graph, QE has clearly slowed down, but balance sheet expansion hasn’t stopped. Despite the taper having supposedly ended at the beginning of March, the Fed still appears to be running quantitative easing. In effect, the central bank continues to print money out of thin air to buy bonds. This is the exact opposite of fighting inflation.

We shouldn’t be seeing a growing balance sheet in the midst of historically high inflation.

Even if balance sheet expansion has slowed to a trickle, it continues to expand. Given the inflation problem and all the talk about fighting rising prices, you would expect the Fed to be shrinking its balance sheet. It certainly would be if it was serious about an inflation fight.

That raises a question: given the surging CPI, why wait to begin running off the balance sheet?

Because the Fed knows it can’t do it without tanking the entire economy.

This is the worst war on inflation ever.

To put that in perspective, the balance sheet stood at $4.16 trillion in February 2020, as the coronavirus pandemic started to unfold. That was up from a low of $3.76 trillion in September 2019, when the Fed gave up on tightening because the stock market tanked and the economy was getting wobbly.

That means most of the Treasuries the Fed bought in the first rounds of QE after the 2008 financial crisis remain on the balance sheet today — plus trillions more.

And we’re supposed to think the Fed is going to successfully shrink its balance sheet this time around?

It seems unlikely. Heck, it can’t even seem to finish the taper.

Here’s the reality; while the Fed is talking about fighting the inflation fire, it is still pouring gas on the inflation fire. An expanding balance sheet means the Fed is still engaged in expansionary monetary policy. So far, the inflation fight is a lot of talk and not much action.

END

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

Why Gold Will Benefit From The Inevitable Reshaping Of The International Monetary System

MONDAY, APR 18, 2022 – 05:00 AM

Authored by Ronni Stoeferle via GoldSwitzerland.com,

Intro by Matthew Piepenburg

In the attached report, Matterhorn Asset Management advisor and Incrementum AG founder, Ronni Stoeferle, offers a compelling perspective on the rapid changes in the global monetary system and the massive implications behind Western sanctions unleashed on February 27th against Russia.

As Ronni indicates, these measures have staggering and far-reaching consequences for global markets, currencies and the gold price.

Recent sanctions and the “militarization of money” designed to target Russia are in fact hurting the West in equal, if not greater, measure, especially with regard to the weakening prominence of the USD and euro.

As Putin moves to trade more in RUB, other nations, including China and India, will tilt ever more toward de-dollarization in future agreements as global trade becomes increasingly multi-polar and multi-currency.

Sanctions confirm that the USD is no longer a neutral currency, but rather a highly politicized weapon. Escalation or de-escalation in Ukraine, the world is now recognizing the growing likelihood of de-anchoring from the USD as a world reserve currency. This, of course, will not happen over-night, nor will the Yuan simply emerge as the preferred currency.

Nevertheless, trust in fiat currencies as a whole is falling and thus forcing the inevitable issue of a needed (as well as neutral and real) asset like gold to partially cover future currencies as the global monetary order drifts toward a new era.

Toward this end, Ronni provides critical data regarding current gold coverage ratios for the major world currencies, reserves and central banks, including rising EM demand for gold. As the world monetary system re-organizes, those nations with the most gold will have the most currency credibility, and even a loose gold anchoring behind those currencies is a likely (as well needed) component of this rapidly-shifting environment. Based on M1 and M2 data, Ronni walks through the potential impact such partial gold-coverage can have on the actual (rather than COMEX-manipulated) price of gold.

We think the implications are more than worth a thorough read.

-Matthew Piepenburg

1) The World Monetary System Is Undergoing an Epochal Upheaval

February 27, 2022, will go down in economic history as a major caesura, an epochal turning point. On February 27, the member states of the European Union declared Russia’s currency reserves unusable. This was a coordinated action from within the US, Great Britain, Japan and other states that are classified as part of the Western world. In addition, Russian banks were excluded from using the SWIFT system and thus cut off from the international payment network. The media spoke of a “militarization of money” that would dry up Russian war funding.

However, shortly after the sanctioning of currency reserves, the first doubts arose as to whether this step might not seriously damage the West in the long term, more specifically the US dollar and the euro. The US and the euro area signaled that the globally significant US dollar currency reserves could be unilaterally declared worthless in one breath – at least temporarily. The same is true of the euro, which, while playing second fiddle to the US dollar as a global reserve currency by a wide margin, is Russia’s largest foreign currency holding, making up 32.3% of its foreign exchange reserves.

Russia responded immediately by trying to switch bilateral trade with non-Western trading partners to rubles. Trade with “unfriendly” states is also to be switched to rubles, but whether this will succeed remains to be seen. In any case, de-dollarization efforts have received a new boost from Western sanctions, as has the desire expressed by Russia, China and India for a new, multi-polar, world and monetary order.

The freezing of currency reserves and assets of Russian oligarchs will set alarm bells ringing among many other wealthy people, especially from countries that have strained relations with the West. After all, given the hyper-moral debates in the West about human rights and climate change, why shouldn’t the fortunes of politicians or entrepreneurs who, for example, produce products that fuel climate change, suffer a similar fate?

However, a core function of money, its intrinsic value, has been affected in recent months. Record high inflation rates, at 40-year highs in some cases, continue to undermine confidence in fiat currencies, but this erosion of confidence is only just beginning. The immense year-on-year increases in producer prices, now over 30% in the eurozone and more than 20% in the US, will continue to fuel consumer price inflation in the months ahead. For the eurozone in particular, there is great uncertainty as to whether the spiral of sanctions against Russia will further tighten, or ease in the near future. There are many indications that further tightening is more likely.

2) The New World Monetary System Needs an Anchor

The “militarization of currency reserves” has deprived the world’s reserve currency, the US dollar, of its neutrality, a neutrality that is indispensable for a universal currency. The euro and other Western countries who are potential competitors for the US dollar’s position have taken themselves out of the game immediately. The Chinese yuan alone will not be able to take over the role of the US dollar in the foreseeable future, even though China is now the most important trading partner for two-thirds of all countries. The lack of convertibility, a lack of trust, rudimentary legal security and a comparatively small bond market make it highly unlikely that the yuan will be able to replace the US dollar any time soon.

Therefore, 50 years after the closing of the gold window, the chances are that gold may play a role again in the inevitable reshaping of the world monetary order. Gold is politically neutral, it does not belong to any state, political party or institution. This neutrality could serve as a bridge of trust between the geopolitical power blocs that currently seem to be emerging.

This formation of a new world (currency) order will not happen overnight. If gold were indeed to be increasingly used as a currency again, this would naturally have a strong influence on the gold price, denominated in the respective fiat currencies. After all, in just over five decades since the closing of the gold window, the hypothetical gold cover of the US dollar declined from an already low 14% at that time to only 8% today. The significant decline in the gold coverage ratio is shown in the last column:

3) The Central Banks – Including in the West – Continue to Back Gold

Central banks have by no means sworn off gold. Gold coverage has mostly fallen so sharply because the money supply expanded so much. Gold’s share of foreign reserves bottomed out at just 8.4% in 2015. Since then, it has risen by more than 50%. The vast majority of this increase is due to central banks from emerging markets and developing countries. They more than doubled their gold reserves since the 2006 low. Among the most important gold buyers in recent years are central banks of emerging and developing countries such as Turkey, Russia, China, India, Sri Lanka, and also Thailand last year.

Western countries, on the other hand, had at best maintained their gold reserves, but in some cases significantly reduced them. Switzerland, in particular, reduced its gold reserves by 60 percent. Great Britain dropped out of the top ten after a decline of almost 50 percent, as did Portugal and Spain. Significantly, these three Western countries were replaced by Russia, China and India, three of the five BRICS countries.

The US author, Jim Rickards, once said that in the upcoming reorganization of the world monetary system, every gold bar held by the central bank is like a chip in a poker game. Whoever holds more gold will have more say. Although Western countries have not expanded their gold holdings, or have done so only slightly – with the notable exception of Poland and Hungary – they still hold the largest gold reserves in absolute terms and as a relative share of total currency reserves, by a wide margin.

4) Even a Loose Gold Anchor Would Result in Enormous Price Increases for Gold

In this context, it is interesting to consider how much gold would appreciate if it were to be increasingly used by central banks in monetary terms again, i.e. not merely as an asset, but if there were a redemption obligation or at least a cover obligation. For this purpose, we calculate the so-called shadow price of gold. By this we mean the gold price that would result if the central banks or the banking system were to implement full or higher-percentage partial coverage of the corresponding monetary aggregate.

The shadow gold price naturally varies greatly according to the assumed gold coverage ratio and the money supply to be backed by gold. Should only the money supply directly controllable by the central bank, the monetary base or M0, be backed by gold? Or should another money supply also include the population’s balances with commercial banks, i.e. M1? This was the subject of intense debate during the gold standard era, and countries came up with a wide variety of solutions.

Since the definition of M1 in the US is now almost identical to that of M2, as savings have also been included in M1 since 2020, we use M2.

Thus, depending on which monetary aggregate one uses and which gold coverage ratio one aims for, the gold price would increase by at least 140% (M0, 20%) and by a maximum of 4,185% (M2, 100%).

A dynamic view of the development of the shadow gold price since 1960 shows how far the shadow gold price has moved away from the actual gold price. In other words, how excessively central banks and commercial banks have inflated the (paper) money supply over the past decades.

5) However the World Monetary System Will Change, Gold Will Be Among the Winners

We are facing major tectonic shifts. The post-war order now seems to finally be on the verge of being replaced. Much is still in the dark, but the era of completely unbacked money is rapidly coming to an end.

How the future global monetary system will be designed is still completely open. Will centralized central bank digital currencies (CBDCs) set the tone, or will the money supply be (partially) privatized as private cryptocurrencies like Bitcoin are used as a means of payment in everyday life?

What is clear, however, is that never since the gold window closed have the odds been better for gold to play a monetary role again.

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

A must read:

Alasdair Macleod/GATA

Alasdair Macleod: The failure of fiat currencies and the implications for gold and silver

Submitted by admin on Thu, 2022-04-14 12:44Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, April 14, 2022

This is the background text of my keynote speech given yesterday to European Gold Forum.

To explain why fiat currencies are failing I started by defining money. I then described the relationship between fiat money and its purchasing power, the role of bank credit, and the interests of central banks.

Undoubtedly, the recent sanctions over Russia will have a catastrophic effect for financialised currencies, possibly leading to the end of fifty-one years of the dollar regime. 

Russia and China plan to escape this fate for the rouble and yuan by tying their currencies to commodities and production instead of collapsing financial assets. 

The only way for those of us in the West to protect ourselves is with physical gold, which over time is tied to commodity and energy prices. …

… For the remainder of the analysis:

https://www.goldmoney.com/research/goldmoney-insights/the-failure-of-fiat-currencies-and-the-implications-for-gold-and-silver?gmrefcode=gata

END

Virginia’s bullion sales tax exemption extended

(Coinweek/GATA)

Virginia bullion sales-tax exemption extended and threshold removed

Submitted by admin on Thu, 2022-04-14 12:55Section: Daily Dispatches

From CoinWeek
Ormond Beach, Florida
Tuesday, April 12, 2022

On March 2, Virginia Gov. Glenn Youngkin signed House Bill 3, which extends to June 30, 2025, the sunset date for the sales-tax exemption on gold, silver, and platinum bullion and legal tender coins. Under the previous law, the exemption would have expired on June 30, 2022.

In the summer of 2014, John Brush of David Lawrence Rare Coins, with a coalition of coin-business owners, a lobbyist, and the National Coin and Bullion Association started developing legislation to exempt coins, currency, and precious-metals bullion from Virginia’s sales and use taxes. The legislation provided an exemption that included gold, silver, and platinum purchases whose totals exceeded $1,000.

On March 26, 2015, Gov. Terry McAuliffe signed the legislation and the law went into effect on July 1, 2015. However, a sunset provision was also added to the law, so that the original sales tax would be reinstated if new legislation were not passed before the end of the 2018 legislative session. …

… For the remainder of the report:

END

Alabama passes sound money law and also expands sales tax exemption for gold and silver

(Money MetalsNews/GATA)

Alabama passes sound money law, expands sales tax exemption for gold and silver

Submitted by admin on Thu, 2022-04-14 23:26Section: Daily Dispatches

From Money Metals News Service
Eagle, Idaho
Thursday, April 14, 2022

MONTGOMERY, Alabama — With Gov. Kay Ivey’s signature on sound money legislation today, Alabama has become the second state this year to expand its sales tax exemption involving gold and silver.

Alabama Senate Bill 13, championed by Sen. Tim Melson and Rep. Jamie Kiel, passed with unanimous support out of the Alabama Senate and then unanimously through the Alabama House before making it to the governor’s desk.

In 2019 Alabama originally removed sales taxes from most gold, silver, platinum, and palladium coins and bars. This year SB 13 clarified that the exemption covers all common forms of bullion, removed burdensome reporting requirements, and extended the sales tax exemption until 2028.

Backed by the Sound Money Defense League, Money Metals Exchange, and in-state supporters, SB 13 now fully ensures that Yellowhammer State citizens cannot be penalized with taxation when acquiring the monetary metals for investment, to protect their savings from the ravages of inflation, or any other reason.

Stefan Gleason, president of Money Metals Exchange, explained the importance of extending the sales tax exemption on precious metals: “Many states surrounding Alabama (Georgia and Florida) have cultivated pro-sound money environments, eliminating sales taxes on gold and silver. Alabama savers and investors are thankful that the legislature expanded and extended the state’s exemption.” …

… For the remainder of the report:

https://www.moneymetals.com/news/2022/04/14/alabama-passes-sound-money-l..

END

For your interest..

Billions of dollars at stake as huge gold mine moves ahead with South Carolina expansion 

Submitted by admin on Fri, 2022-04-15 11:35Section: Daily Dispatches

By Sammy Fretwell
The State, Columbia, South Carolina
Thursday, April 14, 2022

Buried deep in the Lancaster County dirt are billions of dollars in gold that a mining company has been furiously digging for during the past six years.

OceanaGold’s effort has drawn praise locally for the hundreds of jobs it created, but the company also has sparked criticism over its failure to follow environmental laws, as well as the massive impact the mine has had on the landscape.

 Now, however, the company has struck a deal with environmentalists that could make it easier for OceanaGold to expand from about 4,500 acres to nearly 5,400 acres.

Buried deep in the Lancaster County dirt are billions of dollars in gold that a mining company has been furiously digging for during the past six years. 
OceanaGold’s effort has drawn praise locally for the hundreds of jobs it created, but the company also has sparked criticism over its failure to follow environmental laws, as well as the massive impact the mine has had on the landscape. Now, however, the company has struck a deal with environmentalists that could make it easier for OceanaGold to expand from about 4,500 acres to nearly 5,400 acres. …

… For the remainder of the report:

https://www.thestate.com/news/local/environment/article260401482.html

END

4.OTHER GOLD/SILVER COMMENTARIES

Important:  France has now repatriated covertly 221 tonnes of its 2435 tonnes 

Jan Nieuwenjuijs (formerly Koos Jansen)/Gainseville coins

France Has Repatriated All Its Monetary Gold

SUNDAY, APR 17, 2022 – 08:10 AM

By Jan Nieuwenhuijs of Gainesville Coins

The central bank of France has covertly repatriated 221 tonnes of gold between 2013 and 2016. Since then, all its monetary gold is stored in La Souterraine in Paris. Repatriating all gold is related to France’s aim to revamp Paris as a gold trading center.

Introduction to the Gold Repatriation Trend

Gold’s role in international finance and geopolitics has changed dramatically since 2008. The Great Financial Crisis reminded central banks of radical uncertainty and the humbling aspect of risk. Instead of net sellers, central banks have turned into net buyers of gold, steadily purchasing more than 400 tonnes a year.

Most European central banks own relatively more gold than their Asian peers. Thus, some European governments haven’t bought additional metal but have instead reassessed their gold policy.

In 2013 the German central bank was the first to announce it would repatriate gold from the Banque de France (BdF, “Bank of France”) and the Federal Reserve Bank of New York. Eventually it would have 50% of its gold stored in Germany. The other half would be left in New York and London. According to the German central bank their gold policy serves three objectives: cost efficiency, security, and liquidity.

Cost efficiency has to do with storage costs at different locations. Security is about the safety of vaults and in which country the vaults are located. How much is a country willing to store abroad? Liquidity involves holding bars in liquid marketplaces such as London, i.e., to efficiently swap metal for foreign exchange in times of emergency.

After Germany, other countries such as the Netherlands and Austria followed by repatriating monetary gold. There has been no official news from France.

When France Repatriated Its Gold

At the London Bullion Market Association (LBMA) conference in 2013, one of the keynote speakers was BdF’s Director of Market Operations, Alexandre Gautier. On slide 15 of his presentation we can see BdF stored 91% of its 2,435 tonnes in Paris at the time, and 9% “abroad.”

Currently, we can read on BdF’s website that all its gold is stored in its own vault in Paris. The gold stored abroad must have been repatriated after 2013. Knowing exactly when is impossible. For one, because BdF doesn’t respond to emails regarding this subject. Second, BdF employees that answer the phone don’t speak English.

The first snapshot taken by the Way Back Machine of the above BdF webpage, though, is from October 6, 2017. And at the bottom of that snapshot, it reads: “Updated on: 12/08/2016.” BdF thus first disclosed that all its gold is in Paris by late 2016. Therefore, BdF must have repatriated 221 tonnes (9% of 2,435 tonnes) sometime between 2013 and 2016.

Quite likely France repatriated from the UK. In the 1960s France was the most vocal critic of the United States, which was printing much more dollars relative to the gold they had backing those dollars. France aggressively converted dollars into gold and pressed for a reform of the international monetary system. Any of the French gold stored in a liquid marketplace abroad after Bretton Woods was likely in London.

Reviving Paris as a Gold Trading Center

In 2018, BdF’s Second Deputy Governor, Sylvie Goulard, published an article in the LBMA’s magazine the Alchemist: “Banque de France and Gold: Past and Future.” Goulard praises Paris as one of the main gold trading hubs, next to London and New York, during the gold standard. And “the financial crisis [in 2008] acted as a wake-up call for gold,” she writes, which “proved to be an opportunity for gold and for the Banque de France.”

She shares that since 2009 BdF has been upgrading all its monetary gold to LBMA Good Delivery standards. In the modern Western gold wholesale market centered in London all bars meet the same criteria—LBMA Good Delivery—to ease trading. Any bars that don’t adhere to this standard will trade at a discount, which can increase during a crisis.LBMA Good Delivery bars must weigh between 350 and 430 fine troy ounces, with a fineness of no less than 995 parts per thousand. Image courtesy of Valcambi

The central bank of France has made sure all its gold can be deployed in the wholesale market, if it desires to do so. Additionally, Goulard writes:

“As well as upgrading its stock, the Banque de France is taking various other steps to ensure it meets LBMA criteria. All large bars are weighed on electronic scales which allow the Banque to check that the weight meets the LBMA standards for accounting purposes. The renovation of the historical vaults housing the gold reserves [in Paris] has nearly been completed: the floor will be able to support heavy forklift trucks, and intermediary shelves have been inserted between the existing shelves to ensure the gold is only stacked five bars high, making handling easier. Other storage facilities will be available soon: either strong rooms for storing bare bars on shelves or large vaults to store sealed pallets, facilitate handling, transportation and auditing. By the end of the year, a new IT system will be in place to improve our ability to respond to market operation needs and other custody services.

“Building on its long experience in managing its gold reserves, in 2012, the Banque de France began to extend its range of gold services to reserve managers. In addition to offering custody of physical gold in its vault in Paris, the Banque de France can buy and sell gold on the spot markets for its institutional customers, using its execution expertise. It can also offer gold swaps either for the purpose of using gold as collateral for deposits, which has been happening more and more since the Basel III framework recognised gold as eligible collateral, or for the purpose of raising foreign currency cash against gold. Finally, foreign central banks can engage in gold lease transactions with the Banque de France as principal, in order to increase the return on their gold holdings without increasing their counterparty risk.

“While these gold investment services have until now only been offered from London, it recently became possible for the Banque de France to offer them also from Paris, thanks to a partnership with a large commercial bank that is active in the gold market. As a result, with the improvements in the Banque de France’s vaults, and the innovations in its service offering, Paris could gradually re-emerge as a key marketplace for gold.”

After Goulard’s article was published it became clear that JP Morgan has an account at BdF. Through bullion banks BdF is better connected to the greater gold market.Stacks of gold bars held in a vault at the New York Federal Reserve bank

Foreign central banks that store gold in Paris are offered services such as trading, lending and swapping gold. From an industry insider I have heard that in recent years central banks have swapped U.S. dollars for gold at the BdF. Occasionally, the gold swap rate was higher than the U.S. dollar interest rate. Holding gold—for as long as the swap is agreed—incurs no counterparty risk.

Some analysts surmise that turning Paris into a new gold trading center is primarily due to Brexit. Surely, the Brexit vote on June 23, 2016, has strengthened BdF’s ambitions to develop a local gold market, but these ambitions were born long before the U.K. decided to leave the E.U.

As Goulard mentions, BdF started upgrading its metal in 2009, and “in 2012, the Banque de France began to extend its range of gold services to reserve managers.” It’s possible, though, that BdF doubled down on its ambitions by repatriating its metal from London shortly after the Brexit vote.

However it may be, France’s central bank saw huge potential for gold right after 2008. Based on Goulard’s article my assessment is that BdF expects gold’s role in the financial system will increase. Why else upgrade all the French gold, overhaul the vault, set up a new IT system, and develop a full set of trading services for foreign central banks in Paris?

5.OTHER COMMODITIES

LITHIUM

end

COMMODITIES IN GENERAL

6.CRYPTOCURRENCIES

7. GOLD/ TRADING TODAY

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

ONSHORE YUAN: CLOSED UP 6.3654

OFFSHORE YUAN: 6.3754

HANG SANG CLOSED

2. Nikkei closed DOWN 293.48PTS OR 1.08% 

3. Europe stocks  ALL GREEN 

USA dollar INDEX  UP TO  100.51/Euro RISES TO 1.0807

3b Japan 10 YR bond yield: RISES TO. +.244/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 126.59/JAPANESE FALLING APART WITH YEN FALTERING AS WELL AS LONG TERM YIELDS RISING BREAKING THE JAPANESE CENTRAL BANK.

3c Nikkei now  ABOVE 17,000

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

3e WTI:: 106.95 and Brent: 112.02

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

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

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

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

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO +.0.840%/Italian 10 Yr bond yield RISES to 2.48% /SPAIN 10 YR BOND YIELD FALLS TO 1.78%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.64: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield RISES TO : 2.91

3k Gold at $1992.50 silver at: 26.03   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble;// Russian rouble UP 1   & 00/00   roubles/dollar; ROUBLE AT 79.05

3m oil into the 106 dollar handle for WTI and  112 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 126.59 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 .9426– as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0187 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: 2.843 UP 4 BASIS PTS

USA 30 YR BOND YIELD: 2.931 UP 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 14.64

Futures Slide, Nat Gas Soars As Traders Return From Holiday

MONDAY, APR 18, 2022 – 07:48 AM

Equity futures fell, Treasury yields rose and nat gas prices soared to the highest since 2008 as US markets reopened after a three-day holiday weekend while the U.K. and euro-zone markets remain closed. Nasdaq 100 futures led the retreat, falling 0.3% at 730 a.m. EDT after tumbling as much as 0.8%, and signaling a bearish start to the week after the U.S. market was closed on Friday for a holiday. S&P 500 futures also dropped 0.2%, while European markets remained closed on Monday. Oil was flat, while a cautious overall investor mood bolstered the dollar and gold. The USDJPY was set for the longest winning streak on record.

Nat gas soared another 3%, rising to the highest level since 2008.

“We think inflation is no longer a net positive for earnings growth given the impact on costs that are now showing up in margins,” Morgan Stanley strategists led by Michael Wilson wrote in a note. The effects of soaring prices “are now more likely to be a headwind to growth.”

In U.S. premarket trading, Twitter rose after Elon Musk said the economic interests of the board are not aligned with shareholders as the social media company took steps to ward off his takeover attempt. Meanwhile, DiDi Global plummeted after the company said it will hold an extraordinary general meeting on May 23 to vote on delisting its shares from the New York Stock Exchange.

Fed Chair Jerome Powell may reinforce bets that the central bank will raise interest rates by a half point in May when he speaks at an event on Thursday. Later that day he’s due to participate in a panel hosted by the International Monetary Fund. Investors will also focus on earnings and guidance as companies from Bank of America to The Bank of New York Mellon Corporation report on Monday.

The pattern across markets suggests investors remain uncertain whether high inflation has peaked or not. Price pressures are being fanned by supply-chain snarls from China’s Covid restrictions and disruptions to commodity flows due to the war. Concern is growing that the U.S. economy faces a downturn as the Fed pivots toward aggressive policy tightening to contain the cost of living. History suggests the Fed will face a difficult task in tightening policy to cool inflation without causing a U.S. recession, according to Goldman Sachs Group Inc. It put the odds of a contraction at about 35% over the next two years.

“Major regime change is rarely smooth in either geopolitics or economics, and markets are under-pricing these risks,” Eric Robertsen, chief strategist at Standard Chartered Bank Plc, wrote in a note. “We are increasingly concerned about a summer of turbulence and volatility.”

Meanwhile, in its latest downbeat note, Morgan Stanley wrote that the positive effects from inflation on earnings growth for U.S. firms have peaked as rising costs trim their margins and price pressures caused by the Ukraine war hit consumers.

U.S. index futures followed a decline in Asia-Pacific stocks, which were sapped by Japan and China, despite the latter reporting stronger than expected GDP while March economic data confirmed that recent lockdowns have crippled the local economy. Markets in Australia, Hong Kong and much of Europe remain shut for Easter.

Asian stocks dropped for a second day in holiday-thinned trading amid continued concern over the impact of inflation and efforts to contain it on global economic growth. The MSCI Asia Pacific Index fell as much as 1.1%, with India, Vietnam and Japan leading losses among national benchmarks. Mumbai-listed IT giants were among the biggest drags on the regional gauge after disappointing results from Infosys due to surging wages. Hong Kong and Australia remained closed for Easter holidays. Energy stocks outperformed after oil climbed on political unrest in Libya and Russia’s warning of the potential for record prices if more nations ban its products. Concerns of energy-driven inflation and moves by the Federal Reserve and other central banks to combat it have driven the recent global equity selloff, with tech stocks bearing the brunt in Asia. Meanwhile, China reported faster economic growth for the first quarter, while retail sales in March showed the first monthly decline since July 2020, as markets brace for the impact of the latest Covid outbreaks and lockdowns. The nation’s central bank refrained from lowering interest rates Friday, disappointing investors who had been looking for a cut. China Jitters Mount as Easing Calls Echo Across Trading Floors “China’s first quarter GDP was a bit stronger than expected, but what matters now is how the economy is doing after lockdowns in Shanghai so I see very limited impact on markets,” said Ayako Sera, a market strategist at Sumitomo Mitsui Trust Bank. “I would think we are just seeing a calm before the storm.” 

In geopolitics, Ukrainian officials said the remaining defenders of Mariupol are encircled by Russian forces but have not surrendered the strategically important port city, as a deadly strike was reported in Lviv near the Polish border. Ukrainian officials will be in Washington for this week’s meetings of the International Monetary Fund and the World Bank to seek financial support.

In rates, Treasuries were higher across the curve by ~1bp, led by longer-maturity issues; 10- and 30-year yields reached new YTD highs, steepening the curve. 10-year Treasury yields edged down one point to 2.83% in the Asia session after rising as much as 5bps earlier in the session to 2.88% and rising 13 basis points last week; 30-year as much as 4.4bp to 2.96%; 2s10s and 5s30s spreads are wider but remain inside last week’s ranges, when both steepened sharply for a second straight week as traders dialed back the total amount of Fed tightening that’s expected following smaller-than-expected increase in the March core CPI. Yields climbed during Asia session amid speculation the market will move further toward pricing in a half-point rate increase by the Fed at its May meeting, already almost fully priced in.

In FX, a gauge of the dollar rose against all its Group-of-10 peers; The New Zealand and Australian dollars led declines while the Japanese yen outperformed, swinging between gains and losses as BOJ Governor Haruhiko Kuroda said the currency’s rapid moves were fueling negative effects on the economy. The dollar extended its advance for a 12th day versus the yen, the longest winning streak on record, according to data going back five decades compiled by Bloomberg. USD/JPY up by as much as 0.3% to 126.79; one-week risk reversals at a 35 basis-point premium in favor of the topside. Bank of Japan Governor Haruhiko Kuroda said a weak yen is good for the economy, although a rapid drop can disrupt corporate planning.

“With several markets closed for holiday today, the low liquidity may potentially amplify the risk-off market moves, aiding to support the dollar strength,” said Jun Rong Yeap, market strategist at IG Asia Pte.

The currency market stuck to the trading patterns of recent days as a holiday-thinned session on Monday brought low volumes in spot and options markets alike.

Market Snapshot

  • S&P 500 futures down 0.4% to 4,371.75
  • MXAP down 0.9% to 172.33
  • MXAPJ down 0.7% to 572.84
  • Nikkei down 1.1% to 26,799.71
  • Topix down 0.9% to 1,880.08
  • Hang Seng Index up 0.7% to 21,518.08
  • Shanghai Composite down 0.5% to 3,195.52
  • Sensex down 2.2% to 57,073.46
  • Australia S&P/ASX 200 up 0.6% to 7,523.43
  • Kospi down 0.1% to 2,693.21
  • Brent Futures down 0.4% to $111.27/bbl
  • Gold spot up 0.7% to $1,991.92
  • U.S. Dollar Index up 0.22% to 100.72

Top Overnight News from Bloomberg

  • U.S. natural gas prices surged to the highest level in over 13 years as robust demand tests drillers’ ability to expand supplies
  • China reported its biggest decline in consumer spending and worst unemployment rate since the early months of the pandemic as Covid lockdowns put a strain on the world’s second- largest economy
  • Shanghai reported its first deaths as the biggest Covid flareup China has faced during the pandemic prompted more cities around the country to impose restrictions on their residents
  • The odds of an economic contraction in the U.S. over the next two years are about 35%, according to Goldman Sachs Group Inc.
  • Long-maturity Treasuries are contending with their biggest drawdown on record, according to their most popular exchange-traded fund
  • Japan’s giant investors look set to bet on yen weakness continuing and boost their purchases of Treasuries over the rest of the year

A more detailed look at global markets courtesy of Newsquawk

Asian stocks traded mostly negative and US equity futures were also subdued amid a higher yield environment as gains in energy prices stoked inflationary’ concerns, while market sentiment was also clouded by the mass holiday closures for Easter Monday and with participants reflecting on the recent PBoC actions and Chinese GDP data. Nikkei 225 (-1.6%) underperformed and fell beneath the 27k level with the index not helped by a choppy currency as officials continued their jawboning including BoJ Governor Kuroda who stated the recent Yen weakening has been quite sharp and that an excessively weak Yen or the currency’s rapid depreciation can have a further negative impact but is basically positive overall. KOSPI (+0.1%) was indecisive after North Korea conducted projectile launches a day after the 110th birth anniversary of leader Kim’s late grandfather and state founder Kim II Sung, while the US and South Korea are also to begin their spring training exercises this week. Shanghai Comp. (-0.8%) was negative following the PBoC’s recent actions including the narrower than expected 25bps RRR cut on Friday which follows the central bank’s surprise decision to keep its 1-year MLF rate unchanged and with headwinds from the ongoing COVID-19 concerns in China where more cities tightened controls and Shanghai reported its first fatalities from the current outbreak but also recently unveiled plans to resume production in the city. Furthermore, stronger than expected Chinese GDP growth for Q1 and Industrial Production in March failed to spur risk appetite, as the data only partially took into account the latest restrictions including the lockdown in Shanghai that began in late March, while Retail Sales disappointed and the Unemployment Rate increased. As a reminder, markets in Australia. New Zealand and Hong Kong were closed for holiday and there are also mass closures across Europe including the UK for Easter Monday.

Top Asian News

  • Larsen Said to Weigh Merging Tech Arms Into $22 Billion Firm
  • Sri Lanka Must Show IMF Sustainable Debt Plan to Secure Aid
  • Tesla Shanghai Sets Out Hand Washing, Sleeping Plans for Workers
  • DiDi Shares Plunge in U.S. Premarket on Plan for Delisting Vote

Europe remains closed for the Easter holiday

US Event Calendar

  • 10:00: April NAHB Housing Market Index, est. 77, prior 79

Central Banks

  • 16:00: Fed’s Bullard Discusses the U.S. Economy and Monetary Policy

3. ASIAN AFFAIRS

i)MONDAY MORNING// SUNDAY  NIGHT

SHANGHAI CLOSED DOWN 15.72 PTS OR 0.49% //Hang Sang CLOSED   /The Nikkei closed DOWN 293.48 PTS OR 1.08%        //Australia’s all ordinaires CLOSED   /Chinese yuan (ONSHORE) closed UP 6.3654    /Oil UP TO 106.95 dollars per barrel for WTI and UP TO 112.02 for Brent. Stocks in Europe OPENED  ALL GREEN       //  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.3654 OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3754: /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER//

3 a./NORTH KOREA/ SOUTH KOREA

///NORTH KOREA

END

3B JAPAN

end

3c CHINA

CHINA/COVID/SHANGHAI LOCKDOWNS//SATURDAY

Shanghai citizens outraged by CCP lockdowns

(zerohedge)

Shanghai Outraged By Latest Preventable Deaths Caused By CCP Lockdown Policy

FRIDAY, APR 15, 2022 – 06:30 PM

Another unnecessary death, caused as a direct result of the CCP’s draconian COVID lockdown policy that bars anybody without a current COVID test from seeking medical treatment in Shanghai’s hospitals, has rattled the people of Shanghai – and again shaken the people’s faith in the CCP’s “zero COVID” policies – all while the economic carnage from China’s latest lockdowns reverberates across both the country and the world.

According to the SCMP, Qian Wenxiong, a cadre with the city’s Hongkou District Health Commission, died on Tuesday afternoon, according to a statement published on an official Weibo account on Thursday. He was 55.

Information on social media included a story that was nothing short of heart-wrenching.

Father of a 5yr old and stable cancer patient died after suddenly feeling discomfort at home. He was told his covid test from yesterday was invalid.
His last words on earth? Mom, can you check if my new Covid test has come out?
2hrs after he left, his Covid test came bk negative pic.twitter.com/hYQFN3etI4— JinJin Xu (@jinxshoe) April 15, 2022

Meanwhile, as they try to loosen lockdown measures in Shanghai (at least when it comes to factories and other economically important areas), authorities announced Friday that restrictions are being reimposed in Xi’an, known for being the epicenter of the previous omicron wave.

  • CHINESE CITY OF XIAN SAYS TO IMPOSE PARTIAL LOCKDOWN FROM APRIL 16 UNTIL END-APRIL 19 DUE TO COVID

President Xi and the senior leadership have been preoccupied with trying to revive the city’s flagging factory production. On Friday, the Ministry of Industry and Information Technology said it will push for forward production resumption at major factories in Shanghai, with priority given to 666 major enterprises, auto and equipment manufacturing, and biological medicine industries.

Now in its third week (for a lockdown that was only supposed to last 9 days), the Shanghai lockdown has inspired some of the most heated anti-government criticism in years, which has spilled out onto Weibo despite the government’s efforts to censor it. The latest trending post to get censored features an 82-year-old man pleading for medication with a local party official, who said he could only offer traditional Chinese remedies.

Even the party official acknowledged that he was “very worried”.

“I’m also very worried about the people seeking help,” the party official said in the recording. “I’m also very angry but there’s nothing we can do.”

Although food shortages have eased in some places and protests remain rare (although they have happened), the simmering rage is palpable, especially in Shanghai, as tens of thousands of social media users pass around stories about acts of individual defiance and reports of suicides on Weibo and WeChat.

President Xi made his first veiled reference to the growing discontent on Wednesday during a visit to the tourist destination of Hainan province, saying the country needed to stick with its zero-tolerance approach to COVID despite the growing discontent and economic costs. In particular, he said, it was necessary to overcome “paralyzing thoughts” and “war weariness” while preventing any imported cases and local virus flare-ups.

The government reported 29,411 new cases on Thursday, and all but 3,020 were asymptomatic. Shanghai accounted for 95% of that total, or 27,719 cases. All but 2,573 had no symptoms.

More Chinese are worried about the lockdowns spreading, especially as economists from Nomura warn that the CCP’s COVID measures could disrupt the upcoming harvest, jeopardizing the food supply for China’s 1.4 billion people.

As one Shanghaier told Bloomberg, it’s not so much the CCP’s strict policy that has elicited rage, but the poor implementation of it.

“The gripes among ordinary people are not so much directed toward Covid Zero as it is about the messy implementation,” Huang Yanzhong, a senior fellow for global health at the New York-based Council on Foreign Relations.

Still, for residents like Irene Li, the damage is lasting.

“Shanghai was the best place in China because of her freedom, her modernization, her internationalization,” she said. “And yet it has turned to this, where one ridiculous policy has harmed so many lives.”

In Shanghai, the government has piled pressure on grassroots leaders and police officers to strictly enforce the lockdown, which has led to incidences of police killing pets who have been suspected of COVID exposure (for example, if their owners tested positive).

Meanwhile, the top policy makers at the PBOC are resorting to more monetary easing to try and cushion the economic blowback. Unfortunately, measures like this won’t help grow crops.

END

CHINA/COVID/LOCKDOWNS

Kyle Bass  questions China’s COVID lockdown motives as well as discuss the nickel and other commodity market manipulation

(zerohedge)

‘A Beautiful Mosaic Of Commodity Market Manipulation’ – Kyle Bass Questions China’s COVID Lockdown Motives

FRIDAY, APR 15, 2022 – 11:30 AM

Having suddenly and ultra-aggressively turned on it people with the most draconian restrictions of any nation in the world so far since COVID arrived on the scene in some Wuhan bat-soup, this week has seen the proletariat starting to fight back as food shortages hit and life inside their apartment prison cells becomes unbearable.

The CCP demanded “Control your soul’s desire for freedom. Do not open your window or sing,” after Shanghaians began to scream for help.

Bear in mind that COVID deaths, according to official CCP sources, remain non-existent – even as case-counts soar (and there are few headlines about over-crowded hospitals).

So why did Xi go full Fauci-tard? Why, after two years of ‘control’ did the politically-troubled leader of the un-free world suddenly decide to unleash hell on its citizens (and at the same time promise RRR cuts to prop up asset markets)?

Outspoken China hawk Kyle Bass has some thoughts that are worth considering…

Another take on China’s shutdown of Shanghai, Shenzhen, Guangdong, etc…

China is desperately in need of crude oil, LNG, food, basic materials, base metals, and more.

Putin’s invasion/massacre has created additional energy scarcity, inflation, and skyrocketing food inflation.

Whilst China hasn’t had any material problems with the virus from Wuhan in the past, it’s interesting that their draconian lockdowns (in conjunction with telegraphing the purchase of fewer cargos of LNG and crude) are forcing global economists to ratchet growth expectations lower whilst concurrently shifting future demand projections for commodities lower.

Everything China desperately needs to acquire is trading down in price as a result of the lockdowns.

If we all take a look back, the primary driver of China’s current account moving into negative territory happened to be the Chinese citizens traveling and spending abroad (they could only spend USD, EUR, YEN, etc).COVID abruptly halted Chinese travel,gave the CPC supreme censorship power (Chinese travelers no longer open to uncensored internet) and allowed a crushing takeover of Hong Kong without further incident (COVID appeared at the zenith of HK protests).

Either the occurrences of COVID are perfectly coincidental (and incredibly helpful to the CPC’s existential crises) or a much more insidious modus operandi is at work.

Remember, rampant food price inflation was one key grievance that led to the Tiananmen Square protests/massacre as well as the Arab Spring.

It’s too late for Xi and the world to avoid the food price spike as it will certainly worsen next year given input pricing.

Economic slowdown projections will be pushed to Wall St economists by the CPC on one hand while positive speeches by the likes of Liu He are designed to keep Chinese stocks from resuming their free fall.

Think about the LME nickel disaster.

China’s largest nickel trader – aka “Big Shot” – had/has the largest short position in nickel on the exchange. It’s widely accepted that nickel is (and will continue to be) in a global deficit due to the insatiable demand for nickel-rich batteries in EVs and Russian production being removed from the market.

Why would China’s largest nickel producer/trader have such an enormous short position if he can’t deliver into the expiry? Is China manipulating nickel prices lower in an effort to keep a cap on them? China’s HKEX bought the 152 yr-old London Metal Exchange(LME) in 2012.

The LME sale to a Chinese entity should have been blocked for obvious reasons. The trading halt, the cancellation of over $4 billion of trades, and the subsequent investigation into the BUYERS all smells like a corrupt investigation with Chinese characteristics.

Remember, it was the giant short position of China’s largest nickel trader/producer that refused to pay margin calls (along with China Construction Bank). A comprehensive review of China’s actions begins to look like a beautiful mosaic of controlled manipulation of global commodity markets.

In the long run, I believe that it will pay in spades to be long all of the commodities.

China is insidiously manipulating lower. Today’s prices have all of this factored in.

end

QTR also does not believe the COVID story.  They believe that something more sinister is on the horizon

(QTR Fringe Finance)//TWO COMMENTARIES//SUNDAY

Something Is Rotten In The State Of Shanghai’s Latest COVID Lockdowns

SUNDAY, APR 17, 2022 – 02:30 PM

Submitted by QTR’s Fringe Finance

Make no doubt about it, there’s something seriously disturbing about the state of the recent Covid lockdowns taking place in Shanghai. Even for China.

Here is what the outbreak looks like, if we are to believe the numbers coming out of China. You’ll have to excuse me for being frank, but I simply don’t believe them. China has lied about nearly everything since the beginning of the pandemic, and they certainly don’t have the rest of the world’s best interest in mind now that they are allying with Russia economically.

Source: NY Times

Rather, I believe the numbers are likely being exaggerated one way or the other (just as I believe China does with their macroeconomic data), in order to meet the needs of whatever agenda the CCP is trying to push.


Here we are, two years into Covid, with ample time behind us to have studied the virus, developed vaccines, boosters and therapeutics and allowed for natural immunity to spread – and China is locking down the city of 26.3 million people at the first sign of a couple cases of Covid.

Photo: NBC News

The actions China has taken to implement this round of lockdowns have been dystopian and Orwellian, to say the least.

For example, according to the NY Times:

  • all international flights to and from Shanghai have been halted
  • many roads to the city’s two airports have also been closed
  • the government performed P.C.R. tests on 25.67 million people
  • the government has not allowed residents to go to grocery stores
  • the government has put together tens of thousands of cots in two convention centers as quarantine centers – but they don’t have showering facilities

China is also, once again, sealing people in their homes. Videos on social media “show trapped residents howling and screaming from inside high-rise buildings at night,” The Independent wrote this week.

According to social media posts, the city is even using drones to try and calm the nerves of angry residents.

“Please comply [with] covid restrictions. Control your soul’s desire for freedom. Do not open the window or sing,” this drone is reported to be saying.

There are a innumerable disturbing things about the dystopian way this alleged outbreak is being handled, but none more pressing is the question of why it is being handled the way it is.


🔥 Only for the holiday weekend // If you would like to support the blog and become a paid subscriber to an annual plan this weekend, I can offer you 50% off discount that will be valid for as long as you stay a subscriber: Get 50% off forever


It felt like, heading into the spring, the world was over the idea of Covid. Mask mandates and vaccine mandates were being lifted, businesses were starting to recover and we were heading into the warmth of summer with the attitude that we now knew the risks of Covid and that it was time for every person to take care of themselves.

So, why such a drastic overreaction by China? Why continue the country’s completely irrational and inane “Covid Zero” policy at this point?

It’s simply doesn’t make any sense – even for China. In fact, the country’s extremely dramatic and overzealous response feels so abnormal that it made me wonder yesterday whether China was simply using it as a tool for a state sponsored power grab that it had long planned.

I also wondered if the drastic measures – similar to the measures we saw at the beginning of Covid from China – were a sign that the country knows something about the virus that the rest of the world still doesn’t.

Certainly, nobody thinking reasonably believes such a drastic reaction to this virus, which has already wreaked its first round of global havoc but has settled down and become a way of life in places like Florida and the Nordic states where they’ve allowed herd immunity to run rampant, is warranted.

Yesterday, on Twitter, those were the only two alternate explanations I could conceive of for China’s actions.

But a third wild idea popped into my head yesterday afternoon that I wanted to also bring up.

What if China is purposely shutting down its country to wreak havoc on the global supply chain even further and to exert its power over the quality of lives of the western world?


I’ve talked about why I think China and Russia are going to be breaking off of the current monetary system and essentially starting a new economy.

I’ve written about how backing the ruble and potentially backing be digital Yuan with gold could be one way for these countries to exert their influence and stand alone on a global stage economically.

I’ve also warned about the pitfalls of the United States not having enough productive capacity and relying on importing from China too much. Don’t think China doesn’t understand the dynamics of this relationship, either.

What if China wants to not only exert its influence by backing its currency, but also by keeping its production means on a tighter leash: more for the benefit of its own people, and less for the benefits of Americans exporting dollars. How would China show the rest of the world in a passive, non-confrontational way, exactly just how much power they have over our quality of life?

At this point it appears that China isn’t reserving its productive capacity for its own citizens. After all, reports of food shortages and riots breaking out in Shanghai have been ubiquitous.

Photo: MarketWatch

But there’s a non-zero chance that this may be propaganda or collateral damage that the country has to let happen in order to make the rest of the world think that its people are suffering alongside of them, when they cauterize supply chains for products heading elsewhere in the world.

And if you immediately write off such game theory as conspiratorial and harebrained, you may be right. But you’re also likely underestimating the Chinese Communist Party.


No matter what the explanation, China is overshooting the mark with this latest round of lockdowns, even for “Covid Zero” standards.

Videos leaking onto social media appear worse and more dire than the ones during the original lockdowns of 2020.

Is it really going to be the long-term ongoing policy of the CCP to try and keep zero Covid cases in a country with 1.4 billion people? Even for an unreasonable unilateral dictatorship, that’s a bit much.

Photo: Reuters

If I had to bet it all today on why China is locking down the way that it is, I would take one of these three scenarios over actual implementation of the world’s most irrational health policy:

  1. The CCP is simply trying to usurp more power
  2. There’s something about Covid that China knows that the rest of the world still doesn’t know
  3. China is looking for an excuse to slow its production to put pressure on the Western world at a time when it is trying to separate further, economically, from the West

Either way, the more I see out of the country with every passing day, the more it becomes clear to me that something is rotten in the state of Shanghai’s latest Covid lockdowns.

end

Chinese Lockdowns Expand, Raising More Questions About Beijing’s Motives For Shutting Down

MONDAY, APR 18, 2022 – 11:40 AM

Submitted by QTR’s Fringe Finance

Growing lockdowns in China have me believing more and more that the country isn’t exactly crestfallen about the supply chain crisis it is creating for the rest of the world.

Days ago, I wrote about suspicions I had about China’s latest round of Covid lockdowns. In that piece, I drew the conclusion that the country’s “Covid Zero” plan is irrational and egregious, and that China’s lockdowns may have to do with something more than Covid.

The three scenarios I floated for the potential reason China was “overshooting the mark” with its draconian lockdowns were:

  1. The CCP may be trying to usurp more power
  2. There may be something about Covid that China knows that the rest of the world still doesn’t know
  3. China is looking for an excuse to slow its production to put pressure on the Western world at a time when it is trying to separate further, economically, from the West

Today, I’m leaning toward reason number three. That’s because as of this past weekend, China is now expanding its lockdowns further across the country. Oh, and did I mentioned that China’s top oil and gas producer has also all of a sudden decided it is going to cease doing business with Britain, Canada and the United States?

First, let’s identify some of the interesting ways that lockdowns are spreading across the country. One lockdown happens to hit California-based Apple, Inc. in the gut. The “Zhengzhou Airport Economic Zone, a central Chinese manufacturing area that includes Apple Inc supplier Foxconn, announced a 14-day lockdown on Friday to be adjusted according to the epidemic situation,” according to Reuters.

 Photo: SCMP

Additionally, the country has tightened controls in northwestern China, where in the city of Xian, residents were told “to avoid unnecessary trips outside their residential compounds and encouraged companies to have employees work from home or live at their workplace”.

Suzhou also told its residents that “all employees capable of working from home must do so, and residential compounds and company campuses should avoid unnecessary entry of people and vehicles,” the report noted.

All told, we are witnessing a significant increase in the intensity of lockdowns across China – the very same actions that led us to supply chain hell in 2020 to begin with.

The way Chinese think about covid-19 is changing | The Economist

Today’s article is free, but if you have the means and would like to support my work, I’d be humbled to have you as a subscriber: Subscribe Here


It’s important to remember that the rest of the world hasn’t even recovered from the first round of lockdowns nearly 2 years ago. Automakers globally are still mired in a semiconductor shortage, store shelves in the U.S. remain sparsely stocked, commodities and goods that would be normally available have multiple-month backlogs and prices have gone through the roof.

Chart: Supply Chain Disruptions Make a Comeback | Statista

Every indication out of China seems to point to the fact that we are about to relive 2020’s disruption all over again, despite objections from China’s own residents.

Domestic support for a zero-COVID policy has worn thin in recent weeks as virus-related restrictions have triggered food shortages, family separations, lost wages and economic pain.

Analysts say broad supply chain disruptions are likely to lead to delays in shipments from companies including Apple, and to weigh on the country’s economic growth rate this year.

Japan is already feeling restless about the lockdowns, Reuters reported:

…ongoing restrictions prompted Japan’s consul general in Shanghai to call for the local government to address concerns of Japanese businesses, in a letter posted on the consulate’s website on Saturday.

Additionally, according to another Reuters article out this weekend, China’s main offshore oil and gas producer has all of a sudden decided to end business operations in Britain, Canada and the U.S. because of “concerns in Beijing the assets could become subject to Western sanctions”.



This only exacerbates tensions between the U.S. and China, which are already the highest they have been in decades. Further, the U.S. has warned China about trying to help Russia skirt Western sanctions, the report says:

The United States said last week China could face consequences if it helped Russia to evade Western sanctions that have included financial measures that restrict Russia’s access to foreign currency and make it complicated to process international payments

2020 was one thing – we (likely wrongfully) gave China the benefit of the doubt on its lockdowns because of the air of confusion Covid created globally – but thanks to the war in Ukraine and what we now know about Covid, 2022 should be handled with far more skepticism.

But this time around, we’d be better served to question China’s motive in a way most of us didn’t in 2020. While in 2020, it was easy to attribute China’s shut down to the virus, this time around we shouldn’t be so quick to be satisfied with that answer.

For one, we know far more about the virus than we did 2 years ago – notably that it isn’t a guaranteed death sentence.

On top of that, we have the unique economic situation developing globally, wherein Russia – in the midst of war and being alienated from the West – is seeking an economic partner and has likely found one in Beijing.

Given the global backdrop and what we now know about the virus, it’s tough to draw a road of logic that doesn’t, at some point, lead to asking questions about whether or not China could be engaging in these lockdowns on purpose.

Beijing’s forthcoming actions will continue to tell the tale.

END

CHINA/ECONOMY

China cuts its RR ratio as its economy is slowing down

(zerohedge)

China Cuts Reserve Ratio To Cushion Slowing Economy As PBOC Runs Out Of Easing Space

FRIDAY, APR 15, 2022 – 08:10 AM

It became clear that a widely telegraphed RRR cut was coming on Friday a little earlier in the day, when the People’s Bank of China refrained from cutting its one-year policy loan rate (currently at 2.85%) or injecting liquidity into the economy via the medium-term lending facility, sending Chinese stocks sliding as traders had hoped that the central bank would provide stimulus by cutting the reserve requirement ratio as early as today.

“There’s 100% chance of an RRR cut before Monday –definitely a consensus there,” said Li Xuetong, a fund manager at Shenzhen Enjoy Equity Investment Fund Management earlier on Friday. “If that doesn’t happen, there will be disappointment.” 

Li was right and moments ago – and late on Friday in China local time – the central bank assured there won’t be disappointment when it cut the RRR ratio, the amount of cash banks must hold in reserve, in the latest attempt at targeted monetary easing meant to cushion the slowing economy from its worst Covid outbreak since early 2020.

The People’s Bank of China lowered the reserve requirement ratio for most banks by 25 basis points and for smaller banks by 50 basis points to the lowest level since 2007, according to a statement published Friday. The change is effective on April 25 and will unleash 530 billion yuan ($83 billion) of long-term liquidity into the economy, the central bank said. This was the first RRR cut since December.

Cutting the RRR is an effective way to unleash cheap long-term liquidity. With local governments speeding up infrastructure bond sales, the cash boost may help banks to finance the surge in bonds.

The move itself was not a surprise, as it was widely signaled by the State Council, China’s cabinet, at a meeting on Wednesday. Top Chinese politicians have also repeatedly warned of risks to growth and the need for more monetary and fiscal stimulus as the economic outlook worsens (although the PBOC has so far been quite stingy in easing further). Stringent measures to contain the Covid outbreak have damaged production, strained supply chains and curbed consumer spending.

Major banks have downgraded their growth forecasts for this year, and economists now predict the economy to expand by 5%, below the government’s target of around 5.5%. Authorities have also urged commercial lenders on Friday to lower their deposit rates, according to people familiar with the matter, a move to help ease funding costs for banks so they can boost lending.

While the RRR cut was expected, what the central bank does next remains a mystery as the PBOC is running out of policy space to ease: as a reminder, China is one of the very few countries that are currently cutting rates in the face of a world where developed central banks are rushing to tighten and contain inflation. As such, rate hikes by the Fed Federal Reserve have begun to fuel capital outflows and threaten the yuan. Tighter monetary policy in the U.S. has already wiped out China’s yield premium over U.S. Treasuries.

To confront investor fears, Chinese banking regulators said Friday that China remains appealing to global investors given the economy’s long-term prospects and its higher real interest rate.

The room for further RRR reductions may be shrinking though. Economists say the central bank may soon need to shift away from a widespread use of the RRR as it’s already relatively low and is becoming a less effective tool to deal with the economy’s structural challenges.

The RRR cut takes place just days after China announced an unexpectedly big credit injection for the month of March, when total social financing, RMB loans and M2 growth accelerated materially and were all well above market expectations on the back of policy support. The breakdown was as follows:

  • New CNY loans: RMB 3130 bn in March vs. consensus: RMB 2750bn. Outstanding CNY loan growth: 11.4% yoy in March vs February: 11.4% yoy.
  • Total social financing: RMB 4653bn in March, vs. consensus: RMB 3550bn.
  • TSF stock growth was 10.6% yoy in March, faster than the 10.2% in February. The implied month-on-month growth of TSF stock accelerated to 14.4% from 11.5% in February.
  • M2: 9.7% yoy in March (+24.4% SA ann mom) vs. GSe: 9.0% yoy, Bloomberg consensus: 9.4% yoy. February: 9.2% yoy (+11.3% SA ann mom estimated by GS).

According to Goldman, tghe composition of RMB loans suggests broad acceleration of loan growth across sectors (with the only exception being household short-term loans, which might reflect the drag from anti-pandemic measures because short-term household loans are typically consumption loans), however bill financing growth was still much faster than medium-to-long term loan growth, which continued to imply weak credit demand relative to credit supply.

In other words, with much more credit supply than demand, China has set the stage for its latest credit bubble as excess credit will now be finding its way into alternative conduits, and is why Goldman continues to expect further policy easing – and apparently beyond just RRR cuts – to support growth in light of the growth headwinds from Covid outbreaks.

end

CHINA /ECONOMY

China Q 1 GDP comes in stronger than expected even though March stumbles with those COVID lockdowns. The numbers are most likely massaged!

(zerohedge)

China Q1 GDP Comes In Stronger Than Expected As March Data Stumbles Amid Covid Lockdowns

MONDAY, APR 18, 2022 – 07:01 AM

Overnight, China reported stronger than expected Q1 GDP (driven in no small part by the recent surge in coal use much to the anger of fakenvironmentalists everywhere), offset however by disapponting March data as the recent lockddowns weighed on outlook.

China’s gross domestic product rose 4.8% compared with the same period a year earlier, after expanding 4% in the final three months of 2021. On a quarter-on-quarter basis, GDP grew 1.3%, down from 1.6% in the first quarter. Analysts had projected gains of 4.2% year on year and 0.6% quarter on quarter as Covid outbreaks have increased, leading authorities to largely seal off the financial hub of Shanghai.

“The complexity and uncertainty of the environment at home and abroad has increased, and economic development is facing more difficulties and challenges,” Fu Linghui, a spokesman for the National Bureau of Statistics, said Monday.

However, data for the first three months will not capture the full extent of recent events in Shanghai, which since late March has suffered China’s most severe citywide lockdown since the emergence of coronavirus in Wuhan. Analysts at Nomura last week estimated that 45 cities responsible for about 40 per cent of China’s GDP were under complete or partial lockdowns, and said the country was at “risk of recession”.

Tommy Wu, lead China economist at Oxford Economics, suggested that the 4.8% GDP increase “mainly reflects the growth seen in the official January-February data before the weakening in economic activities in March”. He added: “The central government is now trying to balance minimising disruption against controlling the latest wave of Covid infections, but the disruption is likely to last for weeks and will weigh on activity in April and into May, if not longer.”

And sure enough, the most recent data was much uglier: retail sales, retail sales – a measure of consumer spending – fell 3.5% in March — their first year-on-year fall since July 2020 and worse than a projected 3% decline — and down from a 6.7% increase in the first two months of the year as lockdowns kept people indoors and shut stores to counter the country’s worst coronavirus outbreak in more than two years. In the same month, the official unemployment rate rose to 5.8 per cent, the highest reading in almost two years and the largest one-month increase since early 2020, when China was grappling with the initial outbreak of Covid-19 in Wuhan.

In contrast to the sudden weakness in consumer spending, industrial production, which was a big driver of China’s initial recovery from the pandemic in 2020, added 5 % year on year in March (above the 4.0% expected), but slowing from the 7.5% year-on-year increase in the January-February period. Recent trade data show Chinese imports falling in March for the first time in almost two years as export growth slowed. Data showed factory output also weakened last month as restrictions thinned workforces and snarled up supply chains. At the same time, fixed asset investment rose 9.3% in the first three months of 2022 compared with the same period last year.

Home sales by volume plunged 25.6% in the first quarter compared with a year earlier, while new construction starts measured by floor area dropped by 17.5%. Both of those declines were sharper than in the first two months of the year.

Fu Linghui, a spokesperson for the National Bureau of Statistics, said that “the operation of the economy was generally stable” but pointed to “frequent outbreaks” of Covid in China and an “increasingly grave and complex international environment”, adding that “the country is facing recurring waves of the pandemic in many places and its impact on the economy is increasing.”

As the FT notes, the data will heap greater pressure on President Xi Jinping’s government, which has reaffirmed its commitment to a zero-Covid policy despite the mounting costs and disruption across the country’s biggest cities. In March, the manufacturing hub of Shenzhen was locked down and in the same month the north-eastern city of Jilin was also closed off as part of an approach that has since spread across many other cities.

The lockdowns came at a precarious moment for China’s economy following a debt crisis in its real estate sector and a wider loss of momentum. The government has targeted growth of 5.5 per cent in 2022, its lowest in three decades.

Yet even before the outbreaks of the Omicron variant gathered pace, China’s economy had been hit by a real estate crisis centerd on indebted developer Evergrande that spread across the property sector.

In a sign of the lingering effects of that crisis, new housing starts for apartments declined 20% in the first three months of the year. Steel and cement production fell 6 and 12%, respectively, in the same period.

In addition to its lower annual growth target, the government has also embarked on monetary easing, which has included cutting crucial lending rates for the first time since 2020 despite a previous push to reduce leverage. In response to the slowdown, on Friday, the People’s Bank of China reduced the reserve requirement ratio for banks by 25 basis points in an effort to inject liquidity into the financial system.

Xi, who is this year seeking an unprecedented third term in power, has promoted a “common prosperity” campaign designed to reduce inequality. But lockdown measures now dominate the country’s economic trajectory and have stoked anxiety over supply chain disruptions.

Li Keqiang, China’s premier, has cautioned repeatedly in recent weeks of economic risks, following a warning from Xi in March of the need to minimise the economic impact of Covid policies.

That said, restrictions in Shanghai, a city of 25 million people, have started to ease somewhat after caseloads ebbed, though the city remains under tight control. In Jilin, authorities have declared victory after an extended lockdown. But public-health measures are beginning to tighten elsewhere, highlighting the difficulty of containing the fast-spreading Omicron variant of the virus and the risk of sporadic lockdowns damping economic activity throughout the year.

As the WSJ adds, localized lockdowns are being newly imposed, expanded or extended elsewhere in the country, including the northern industrial city of Taiyuan, the southern megacity of Guangzhou and again in Shenzhen. Forty-five Chinese cities with a combined 373 million people had implemented either full or partial lockdowns as of Monday, a sharp increase from 23 cities and 193 million people a week earlier, according to a survey by Nomura. The 45 cities account for more than one-quarter of China’s population and roughly 40% of the country’s total economic output.

Economists expect Beijing to enact more stimulus measures in the coming months in an effort to hit the 5.5% GDP target. China’s central bank said Friday it would release billions of dollars worth of liquidity to encourage bank lending, though it kept benchmark interest rates unchanged, while a meeting of top officials chaired by Premier Li Keqiang this week teed up plans to bail out industries hit hard by the pandemic such as retail and hospitality and accelerate big construction projects, according to state media.

The CSI 300 index of Shanghai- and Shenzhen-listed stocks fell about 1% on Monday after the data release. Banks were among the worst performers as lenders faced the prospect that policy easing to cushion the economic blow of lockdowns might hurt profits.

“We definitely think that Chinese policymakers are willing to make sure they reach their growth targets,” said Jean-Charles Sambor at BNP Paribas Asset Management.

end

The real Chinese economy

It is slowing down for 4 reasons

1. real estate burst

2. high corporate debt to GDP

3.Government intervention in the private sector

4. Chinese lockdowns are affecting supply chains

(Dr Lacalle)

Chinese Slowdown, Much More Than COVID

SUNDAY, APR 17, 2022 – 08:30 PM

Authored by Daniel Lacalle,

The most recent macroeconomic figures show that the Chinese slowdown is much more severe than expected and not only attributable to the covid-19 lockdowns.

The lockdowns have an enormous impact. 26 of 31 China mainland provinces have rising covid cases and the fear of a Shanghai-style lockdown is enormous. The information coming from Shanghai proves that these drastic lockdowns create an enormous damage to the population. Millions of citizens without food or medicine and rising suicides have shown that the infamous “zero covid” policy often disguises mass population control and repression.

It is easy to use the covid-19 lockdowns as the reason for the weakening of the Chinese economy but that would be a gross simplification. The problem is deeper.

China is going through a severe slowdown caused by the burst of the enormous real estate bubble and the crackdown on the private sector, which has led to a cut in investment growth.

According to Nomura Research, China faces the worst slowdown since the covid outbreak in 2020 and the world should be worried about a further slide, as the challenges persist. Official GDP figures may be massaged to deliver the government’s target, but all other macro figures point to a much weaker growth.

We must remember that there are two ways in which the Chinese government “boosts” real GDP: By publishing a low inflation and GDP deflator figure and by massively increasing credit and infrastructure spending. However, those two cannot disguise the importance of the weakening of the Chinese economy, because it is now structural.

The collapse of the real estate bubble is the biggest problem. A research paper by Kenneth Rogoff and Yuanchen Yang estimated that the real estate sector accounts for around 29% of China’s GDP. It is impossible for the Chinese government to offset the impact of such a massive part of the economy with other high-growth sectors. Furthermore, real estate’s impact on the job market is hard to substitute. Economist George Magnus warned that the impact of the real estate collapse would last for years.

To add to a difficult real estate problem, the government intervention on the private sector, called “crackdown”, makes it even more difficult to boost growth with other industries and businesses. The fear of constant political intervention is leading to a massive slowdown in foreign direct investment growth as well as fear of deploying capital and taking risks in the Chinese economy only to suffer grave penalties from the authorities when profits arrive.

The extent of the deterioration of the Chinese economy is evident in the recent leading indicators. The Caixin China General Manufacturing Purchasing Managers’ Index (PMI) slumped to 25-month low of 48.1 in March 2022, signalling contraction. The Caixin Services PMI plummeted to 42.0 in March from 50.2 in February, dropping below the level that separates growth from contraction. This reading indicates the sharpest activity decline since February 2020.

The political intervention on the technology sector, which is one of the leading job creators in China, has sparked fears of frozen headcounts and layoffs, according to various media reports. Additionally, the decision of the central bank of cutting reserve requirements for banks has not avoided a significant decline in credit growth, as reported by JP Morgan.

To all this we must add a currency, the yuan, which is used in less than 3% of global transactions, according to Reuters, due to the extreme capital controls and the exchange rate fixing imposed by the central bank. Confidence in the local currency is low due to the extreme intervention on the currency market, which is preventing China from having a truly international means of payment.

China’s high debt is also a problem. Total debt stands above 300% of GDP, according to the IIF. The ECB points out that China’s debt-to-GDP ratio for the entire private sector now stands at over 250% and the corporate component of this debt is the highest in the world. The ECB points also to the risk created because a “significant proportion of funding is supplied to the corporate sector by non-bank financial institutions” leading to higher risk-taking and a shadow banking system that leads to large inefficiencies and solvency challenges.

The aggressive and misguided lockdowns are affecting supply chains and activity, but the structural problems of rising intervention in the currency and industries as well as a heavily indebted economic model are likely to drag on real growth and jobs for a long time.

4/EUROPEAN AFFAIRS//UK AFFAIRS

//ECB.

END. 

FRANCE/RUSSIA AND CHINA

end

EUROPE/UKRAINE WAR

end

end

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

RUSSIA/UKRAINE//THE WEST/SATURDAY

More long range strikes on Kiev after losing its major warship

(zerohedge)

Russia Renews Long-Range Strikes On Kiev Following Disastrous Loss Of Warship

SATURDAY, APR 16, 2022 – 09:55 AM

Now more than 50 days into Russia’s invasion of Ukraine, the war appears to have escalated following Russia’s loss of its Black Sea flagship which sunk after the Ukrainians say they struck it with Neptune anti-ship missiles. The warship’s sinking likely marks a significant shift for the Kremlin. After suffering such major losses, Russia has more incentive to practice less restraint – which is perhaps why long-rage bombers are also apparently now in use. The Pentagon has since said it assesses the Ukrainians scored a direct hit on the warship, causing it to sink off Odessa.

It now appears Russia’s retaliation for the devastating loss of its celebrated missile cruiser Moskva has begun, with the defense ministry announcing: “The number and scale of missile strikes against targets in Kyiv will increase in response to any terrorist attacks or sabotage committed by the Kyiv nationalist regime on Russian territory.”

On Saturday it’s being reported that after a lull in fighting near Kiev following weeks ago Russian forces having pulled back their positions to focus on Donbas in the east, there have been fresh scattered attacks on the Ukrainian capital

“Russian forces resumed scattered attacks on Kyiv, western Ukraine and beyond Saturday in an explosive reminder to Ukrainians and their Western supporters that the whole country remains under threat despite Russia’s pivot toward mounting a new offensive in the east,” The Associated Press reports.

Russia’s Defense Ministry confirmed in a statement that the military launched “air-launched high-precision long-range weapons” in order to take out an armored vehicle plant in Kiev, however without specifying the exact location. 

The AP reported further of the attack: “Smoke rose early Saturday from eastern Kyiv as Mayor Vitali Klitschko reported a strike on the the city’s Darnytski district. He said rescuers and paramedics were at the scene, and information about possible deaths would be provided later.”

The mayor of the suburban area warned residents it’s still unsafe to return amid the Russian assault.

“It was not immediately clear from the ground what was hit in the attack. Darnytskyi is a sprawling district on the southeastern edge of the capital, containing a mixture of Soviet-style apartment blocks, newer shipping centers and big-box retail outlets, industrial areas and railyards,” the AP details further of the fresh attack.

There are unconfirmed reports that Russia has attacked weapons manufacturing centers and depots…

On Thursday the Kremlin warned that it would attack “decision-making centers” in Ukraine if cross-border attacks continue. Russia has said that in at least two recent instances, Ukrainian forces have conducted strikes on Russian soil. “The village of Spodaryushino, near the border with Ukraine, had been shelled by Ukraine, Vyacheslav Gladkov, the governor of Russia’s Belgorod region, said in a statement on Telegram,” CNN cited the Russian official was cited as saying. 

Saturday’s strikes in Kiev could be the start of more long-rage missile launches against various cities across Ukraine to come, as Russia turns from slow-grinding infantry and tank tactics to greater reliance on air power and long-range missiles.

END

SATURDAY:

Moscow again warns in a diplomatic letter: arming Ukraine will result in unpredictable consequences

(DeCamp/Antiwar.com)

Moscow Warns US In Diplomatic Letter: Arming Ukraine To Result In “Unpredictable Consequences”

FRIDAY, APR 15, 2022 – 04:15 PM

Authored by Dave DeCamp via AntiWar.com,

Russia sent a formal diplomatic note to the US this week calling on Washington and NATO to stop arming Ukraine. The note, which was obtained by The Washington Postsaid the Western campaign to pour weapons into Ukraine was “adding fuel” to the conflict and could lead to “unpredictable consequences.”

The diplomatic note was sent Tuesday, when news broke of a new massive US military aid package for Ukraine. President Biden announced the new aid on Wednesday, which is worth $800 million and includes howitzers for the first time. The package also includes helicopters, armed Switchblade drones, coastal defense drones, armored vehicles, radar systems, and thousands of Stinger and Javelin missiles.Getty Images

The Russian note was sent to the State Department by the Russian Embassy in Washington. It said the US and its NATO allies were ignoring “rigorous principles” on the transfer of weapons into the conflict zone and said the Western powers are oblivious to “the threat of high-precision weapons falling into the hands of radical nationalists, extremists and bandit forces in Ukraine.”

The Russians accused NATO of pressuring Ukraine to “abandon” peace talks with Moscow “in order to continue the bloodshed.” The US and most of its NATO allies have shown little interest in supporting the negotiations between the warring sides. The Western powers are signaling that they don’t want Kyiv to make any concessions to Moscow.

The Post reported last week that for some NATO members “it’s better for the Ukrainians to keep fighting, and dying, than to achieve a peace that comes too early or at too high a cost to Kyiv and the rest of Europe.”

The formal Russian protest of the US arming Ukraine could be a precursor to Russia launching airstrikes on weapons shipments in Ukraine. On Wednesday, Russian Deputy Foreign Minister Sergei Ryabkov warned that Moscow would view US or NATO vehicles transporting arms inside Ukraine as “legitimate military targets.”

It’s not clear if any US or NATO vehicles have actually brought weapons into Ukraine since Russia invaded. Pentagon spokesman John Kirby has said that Ukrainian troops bring the weapons into Ukraine after the US brings them to Eastern Europe. So far, there haven’t been reports of Russia targeting weapons shipments as they enter Ukraine, but Moscow has hit weapons depots. Earlier this week, Russia said it destroyed an S-300 missile defense system in Ukraine that was provided by a European country.

Russia’s protest highlights the danger of the US-led campaign to pour weapons into Ukraine and the risk of provoking Moscow. On top of arming the Ukrainians, the US is also providing them with intelligence for attacks on Russian forces. The huge amount of support raises questions about at what point Russia would consider the US a co-belligerent in the war.

END

SUNDAY/MARIUPOL


Mariupol flattened.

(zerohedge)

Mariupol Has Been “Wiped Off The Face Of The Earth,” Ukrainian Governor Says

SUNDAY, APR 17, 2022 – 09:55 AM

Pavlo Kyrylenko, Ukraine’s governor over Mariupol, has said Friday that the city of Mariupol has been “wiped off the face of the earth” after weeks of relentless shelling and missile strikes from Russian forces. 

“The enemy may seize the land Mariupol used to stand on, but the city of Mariupol has been wiped off the face of the earth by the Russian Federation, by those who will never be able to restore it,” he said. “To restore Mariupol, that is something only Ukraine can do.”Image: Associated Press

As to the fate of the city, he described that at this point it is “no more” and that in reality the Russians have nothing left to seize. Meanwhile, Reuters is reporting that “Russia gave holdout Ukrainian soldiers an ultimatum to lay down arms on Sunday in the pulverised southeastern port of Mariupol, which Moscow said its forces almost completely controlled in what would be its biggest capture of the nearly two-month war.”

All of this comes just after Ukrainian defense ministry spokesman Oleksandr Motuzyanyk said that for the first time Russia used long-range bombers to attack Ukrainian positions in the port city

“On April 14, two Russian strategic heavy bombers Tu-95/-160 have launched cruise missiles hitting the territory of Ukraine from Krasnodar Krai of Russian Federation airspace,” he said. “Also for the first time from the start of the armed aggression bombs were dropped by a long-range bombers Tu-22M3. This airstrike took place, hitting Mariupol.”

Earlier last week Mariupol mayor’s estimated that over 10,000 civilians had died over the course of the war which had seen the city on the Sea of Azov attacked and besieged from nearly the start of the invasion.

He had described that dead bodies “carpeted the streets” – though it was impossible for outside observers to verify the high death estimate given.

The AP had reported, “The mayor of the Ukrainian port city of Mariupol said Monday that more than 10,000 civilians have died in the Russian siege of his city, and that the death toll could surpass 20,000…”

On Sunday Bloomberg reports that Russia could be contemplating a naval landing of forces to overwhelming the final holdout Ukrainian troops in and around the city:

Ukraine warned of a possible Russian naval landing operation at Mariupol in addition to new air strikes. Russia called on remaining forces in the besieged city to surrender. Many are thought to be within the massive Azovstal steelworks; Moscow said “foreign mercenaries” are among them, citing intercepted conversations.

Recently United Nations officials warned that the true civilian death toll in the country may never be known, that it’s likely significantly higher than current official estimates.

END

RUSSIA/UKRAINE LVIV/MONDAY

Russia expands powerful cruise missile strikes to Lviv

(zerohedge)

Russia Expands ‘Powerful’ Cruise Missile Strikes To Western City Of Lviv

MONDAY, APR 18, 2022 – 08:15 AM

Russia has reportedly hit hundreds of targets across Ukraine Monday in a significant expansion of its long-range strikes and show of air power. Significantly this includes multiple missile strikes on the major Western city of Lviv, which has for much of the war been considered relatively ‘safe’ compared to the eastern half of the country.

Ukrainian officials say at least seven people were killed and 12 wounded due to the strikes on Lviv, with NBC underscoring,  “The attack marked a deadly extension of Russia’s war into a city that has become a refuge for thousands fleeing from further east as well as a major supply and logistics hub.”

The projectiles are being described as ‘powerful’ cruise missiles. “Five powerful missile strikes at once on the civilian infrastructure of the old European city of Lviv,” Ukrainian presidential aide Mykhaylo Podolyak said Monday, adding: “The Russians continue barbarically attacking Ukrainian cities from the air, cynically declaring to the whole world their ‘right’ to kill Ukrainians.”

“Ukrainian officials said missiles struck three military targets and a fourth hit a tire-fitting garage,” NBC had reported further. Western journalists say they heard some of the strikes amid the sound of air raid sirens. The strikes were surprising given the relative quiet and the fact Lviv had so far since the Feb.24 invasion been largely sparred from being targeted by Russian forces. 

But last week’s sinking of the Russian Navy’s flaghship Moskva missile cruiser, after Ukraine fired a pair of Neptune anti-ship missiles (which the Kremlin officially disputes, instead saying the sinking was due to fire and munitions explosions), is being widely viewed as having changed the Russian military’s calculus and tactics. It appears more airpower and long-range missiles will be used

Meanwhile, more images have emerged online of the Moskva as it sank last Thursday and Friday, after initial photos showed it badly damaged and on fire, appearing online for the first time Sunday. A 3-second video has emerged

Following the fresh attacks on Lviv, the city’s mayor, Andriy Sadovyi, is saying there are now “no safe or unsafe locations in Ukraine,” stressing that the Russians are striking military and civilian locations alike.

“All the cities and villages are in the same situation,” Sadovyi said. “The aggressor is committing acts of genocide. They are killing innocent civilians” – he said, taking up language recently used by both Biden and Zelensky. 

The situation in Mariupol, in the southeast, also looks bleak for a couple thousand or more Ukrainian fighters said to be surrounding by the Russian military. “Ukrainian officials said the remaining defenders of Mariupol are encircled by Russian forces but have not surrendered the strategically important port city, as a deadly strike was reported in Lviv near the Polish border,” Bloomberg reports.

ISRAEL/PALESTINIANS

Chaos at the Al-Aqsa mosque in Jerusalem

(Johnson/Common Dreams)

Watch: Chaos As Israeli Police Raid Al-Aqsa Mosque During Ramadan

SATURDAY, APR 16, 2022 – 09:20 AM

Authored by Jake Johnson via Common Dreams,

Israeli forces on Friday launched a raid on the Al-Aqsa mosque compound in occupied East Jerusalem, injuring more than 150 Palestinians as they gathered to worship on the second week of Ramadan.

Sheikh Omar al-Kiswani, the director of the Al-Aqsa Mosque—one of Islam’s holiest sites—told Middle East Eye that “what happened today is an attack on all peaceful worshipers.” He added: “This was a barbaric premeditated attack on worshipers.”

Israeli police fired tear gas, stun grenades, and rubber-coated steel bullets as a small group of Palestinians hurled rocks, reportedly injuring three Israeli officers.

“The Palestinian Red Crescent emergency service said it treated 152 people, many of them wounded by rubber-coated bullets or stun grenades, or beaten with batons,” the Associated Press reported. “The [Islamic endowment that administers the mosque] said one of the guards at the site was shot in the eye with a rubber bullet.”

After firing tear gas and projectiles on the perimeter, Israeli police eventually entered the mosque and arrested hundreds of Palestinians.

According to Middle East Eye, “The buildings inside the complex were damaged in the attack, with some of its historical windows smashed by Israeli forces, according to eyewitnesses.”

“Medics, journalists, mosque volunteers, and women were targeted, according to Palestinian media reports,” the outlet reported.

“Journalists Muhammad Samreen and Rami al-Khateeb were among those injured. At least one child was detained. Meanwhile, Israeli guards stationed at the mosque’s gate stopped Palestinians from entering the site ahead of Friday prayers… Worshipers coming from the occupied West Bank and within Israel were allowed to enter shortly after.”

END

RUSSIA/USA/FRIDAY MORNING

As of this morning

Inbox

Robert Hryniak12:57 PM (23 minutes ago)
to

This how it all goes  wrong .. this is how wars start and it is just what the Neocons and the WEF want … for all the empty bravery of Brussels do not expect gas to continue to flow if payments in Rubles are not made. 

The United States has received an official Diplomatic correspondence  from Moscow which says, in sum and in substance “Russia demands the United States stop arming Ukraine”  and then threatens “unpredictable consequences” if such arming of Ukraine continues.

Among the prisoners in Ukraine there are military personnel of NATO countries, said Senator Klimov of the Russian Federation Council 

“We already have prisoners among the military personnel of NATO countries, we will show all this when we conduct trials, and the whole world will see what really happened,” . 

I have told you many a times that many foreign troops are in the Ukraine. Earlier today 40 Polish troops were killed .. a number were wounded … 

Last night i listed the military strikes as the 2nd phase commences ..  expect much more destruction now… only a fool would believe that Russian patience is indefinite…. Infrastructure will be destroyed and everyone in the Ukraine will feel the brunt of war….. And those parties in neighboring countries that think they are immune from Russian missiles may well learn shorty what the Russians mean … do no rule out a massive missile barrage … like a 1000 missiles all at once and depots in Poland will not be immune from strikes. Stay away from military concentrations and weapon depots. 

And if traveling to Eastern Europe have a plan to get out as an alternative because travel can and may change without notice. So keep a gas tank full

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Monday/

Russia Intensifies Operations In Donbas As Putin Said To Want ‘Key Victory’ By Early May

MONDAY, APR 18, 2022 – 02:07 PM

Following a reported weekend buildup of Russian troops in the eastern Ukrainian city of Izyum, on Monday Russian forces have initiated a major Donbas offensive, resulting in President Zelensky charging that the Kremlin is seeking to destroy the whole eastern region.

At the same time, an estimated 100 missiles were fired on targets across the country, including cruise missiles launched on locations as far away as Lviv. According to The Moscow Times’ account of the current battlefield set-up:

Having dispersed from both sides of the Dnieper river north of Kyiv earlier this month, Russian troops appear to be planning a “pincer movement” down from Izyum in the north, and up from Mariupol in the south, in an attempt to push Ukrainian forces out of the Donbas region and deliver a key victory to Russian President Vladimir Putin ahead of May 9 when Russia marks the Soviet defeat of Nazi Germany.

Ukraine’s military leaders have said it’s their assessment that Russian troops will now attempt to assert full control over the Donetsk and Luhansk regions, which have been center of the running conflict and standoff going back to 2014, after which they’re expected to launch deeper into the Donbas region.

And Zelensky warned in a Monday video message that “Russian soldiers are preparing for an offensive in the east of our country in the near future. They literally want to finish off and destroy the Donbas.”

“Just as the Russian military is destroying Mariupol, they want to destroy other cities and other communities in the Donetsk and Luhansk regions”, he continued. He said Ukraine’s military will do everything to defend the area – this days after he told Western media that he’s not willing to concede any Ukrainian territory, even in the far east.

At the same time, Ukraine’s security council has stated that its forces in Donetsk and Luhansk are capable of withstanding the new Russian assault.

The Moscow Times notes, however, that holdout Ukrainian fighters still in Mariupol, even as Russian troops have final pockets of resistance totally surrounded. It’s believed that the slow grind of final Mariupol operations is forcing the Russian military to divert valuable resources away from other vital locales. 

“Despite Russian troops encircling the city of Mariupol shortly after the beginning of the war, they have made little headway along the Izyum axis because of issues with supply and morale, according to a report published Monday by the Institute for the Study of War,” Moscow Times writes.

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This is one of the most important reads of the year!!  This is where we are heading

Exclusive: Russia’s Sergey Glazyev introduces the new global financial system

Inbox

Robert HryniakFri, Apr 15, 6:25 PM (14 hours ago)
to

This is an article one should read carefully as this is the direction the world is headed. Yes, there will be bumps in this road but it clear that dollar hegemony in not just being challenged but will be fought to the end.
To this extent, conflict in the Ukraine soon to be declared a war will cause that theatre to expand while currency hegemony is fought. Regrettably there will be many causalities in this expanding fight as nations are sacrificed for positions. To this end a NATO/Russia conflict is becoming more likely from being unthinkable, fought on the European continent.
Only the blind and deaf do not know the old MIG 29’s are shuffled into the Ukraine on camouflaged flatbeds to other weapon systems and how Russia continues to destroy them. This cat and mouse game has already during the last 48 hours gotten more intense and now will continue to intensify.
Yes, food shortages are coming as you can safely remove Ukraine;Belarus; Russia; Moldova etc. from the supply list to the west. And as infrastructure is destroyed in the Ukraine in days ahead, the refugee crisis should be expected to grow putting strains on a already taxed system. Refugees are in of themselves unspoken combatants as they encroach on an already burdened system that has allowed unbridled emigration causing social upheavals. Who thought 10 years ago you would witness gunfights or robberies in daylight in downtown Paris cafes? Today, this is a reality. And what will tomorrow bring ?
Be ready for much more chaos and unsettled public reactions to what is coming.

https://thecradle.co/Article/interviews/9135

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RUSSIA/UKRAINE//SATURDAY

More strikes
Inbox
Robert Hryniak
8:22 AM (1 hour ago)to4/15/22 

Tonight, about 40-50 kilometers from Vasilkov (Kyiv region), at least 7 powerful explosions thundered. According to local residents, explosions thundered at the facilities where the forces of the Armed Forces of Ukraine are located. At the same time, the power of the explosions turned out to be colossal – this has not been observed even once since the start of the Russian military special operation.So far, it has not been possible to establish the specific area of the explosions in the Kiev region, however, according to experts, warehouses with weapons and ammunition newly entered into service with the Armed Forces of Ukraine were destroyed. Moreover, it is noteworthy that local residents report that the shock waves from the explosions were so strong that they could be felt from a distance of several tens of kilometers.At the moment, there is no specific information about what caused the powerful explosions in Ukraine, however, we can talk about strikes with high-precision weapons, which have recently proven themselves quite successfully. Nevertheless, at the moment there is no official information that strikes were launched in this direction, neither from official Kyiv, nor from the Russian Ministry of Defense. 
source: 
Подробнее на: https://avia.pro/news/zhiteli-kievskoy-oblasti-soobshchayut-o-moshchneyshih-za-vsyo-vremya-vzryvah

.

END

SUNDAY/ RUSSIA UKRAINE

The war drums of spring

Inbox

Robert HryniakApr 16, 2022, 5:41 PM (19 hours ago)
to

As we celebrate the combination of three religious events this weekend, it is painful to watch the world creep ever so closer to a true continental war in Europe. Is Europe the next sacrificial lamb to be slaughtered after the Ukraine? Or will willing nations of the eastern block raise their hand to be next ? Do not think all European nations take Article 5 as gospel and an opportunity to self destruct. One must peer behind the veil to know.

Some people write to opinion that there are foreign actors involved who wish to take the Ukraine over for their own new  homeland. Well this is not a new concept as it’s been tried many times before by many invading armies. All parties that have tried in the past have always found themselves repelled after some period of time. If in fact this is true, then one does wonder who is fighting for who? Are the Russians fighting for these foreign actors or is NATO fighting for these foreign actors? And who is fighting to keep them out? The blood of many people will continue to enrich the soil of the Ukraine as it has for centuries, while families will weep.

The reality is that the conflict occurring in the Ukraine is escalating now on a daily basis. Not only is the size of munitions being used is increasing but also the delivery systems being used are being expanded. For the first time the other day heavy bombers were used in strikes on Ukrainian soil.  It is well known in certain circles that many hundreds of NATO country origin troops have been killed on Ukrainian soil. The last bunch in quantity were Polish troops. Earlier today a NATO plane was shot down in Ukrainian air space carrying NATO arms to Odessa. If nothing else the Russians are being consistent in targeting weapon shipments into the Ukraine. The other day a missile factory outside of Kyiv was destroyed and other infrastructure is being impaired or destroyed. Have no illusions the Ukraine is being reduced pragmatically as a food producing area to limit food production to the Ukraine with minimal exports. This will gravely impact Europe later this year. As for now sunflower oil is the 1st item to disappear from shelves. Soon others will follow. Much needed fertilizers simply have not flowed in from Belarus or Russia and the growling season is under way and being reduced with each passing day by the lack of fertilizer. Conflict never bodes well for farming. And blame rests with all actors involved for the food shortages to come, as now they are unavoidable.

With each side expelling diplomats on a tit for tat basis, the space for dialogue to avert the unthinkable lessens quickly. And with revelations growing of the actual research being done in the Ukraine in bio labs it is truly disgusting to think that America, Germany other actors were actually researching how to effectively eliminate Slavic people. It’s been known for sometime that in certain military circles the plan was to have a effective way to depopulate Russia. As this was the surest way to defeat Russia. And with reports of testing on patients in Ukrainian hospitals are truly disgusting and a sad reflection on the Zelensky as the poster boy of war for foreign masters. Of what value he is to Ukrainians or even peace loving people is a true mystery. However, that is a Ukrainian matter to sort out while the rest of the world need to reflect upon it’s own stable of fools as politicians pretending to be leaders. One wonders leaders of what ?

China is clearly in the know attempting to decouple from all things Western as quickly as possible. Perhaps this a clue to further issues on the near horizon. Issues with supply chains are never occasioned in a day or week taking time to manifest if one is watching. There is critical chip shortage coming soon as American semiconductor companies run down the supply of Neon. Does anyone think this through? If India and China refuse to ship precious little excess they have, the US will simply be forced to stop production. Does anyone really think through the consequences of 80% of supply being withheld?

As we go through this religious weekend, regardless of faith, please pray for peace because whether it helps, it cannot hurt, as the unthinkable reality of modern war scales up to include more parties and countless casualties.

END

RUSSIA/UKRAINE/MONDAY

Russia Continues to Grind Down the Ukrainian Military and Fuel Resources

Inbox

Robert Hryniak3:39 PM (10 minutes ago)
to

The reality is soon this will be over at least in the eastern part.

Cheers
Robert

6// GLOBAL COVID ISSUES/VACCINE MANDATE/IVERMECTIN

COVID-19 Linked To Alzheimer’s-Like Brain Changes, Study Suggests

SATURDAY, APR 16, 2022 – 09:30 PM

Authored by Jennifer Margulis via The Epoch Times (emphasis ours),

For some, it’s just a sniffle. But for others, COVID-19 can hit hard. Either way, some people who get COVID-19 will suffer from long-term effects. This is known as “long COVID,” and its sufferers are often referred to as “long haulers.” Chances are you already know about long COVID and you may even have been affected by it or have friends or family who are. What is less well known, however, is that neurological issues are common in long COVID.New research may explain one way COVID-19 may contribute to neurological ailments.(Photo_imagery/Shutterstock)

Broken Brains

Brain inflammation, stroke, chronic headache, disturbed consciousness, cognitive impairment, and “brain fog” (an all-encompassing phrase to describe a condition that usually manifests as slow thinking, memory lapses, and difficulty concentrating) can all result after infection with the virus known as SARS-CoV-2.

Even the illness’s unusual hallmarks, hyposmia, and hypogeusia—better known to us non-scientists as loss of smell and taste—are thought to be due to changes in nervous system function.

But while both clinicians and patients have noticed a myriad of brain issues post infection, scientists don’t know very much about how SARS-CoV-2 infections can lead to impaired brain function.

That may be changing.

A study published on Feb. 3 in Alzheimer’s & Dementia sheds light on a potential physiological mechanism behind the neurological problems COVID-19 survivors experience.

While the deeper insight into what is going on is good news, unfortunately, there’s bad news, too.

The new study, “Alzheimer’s-Like Signaling in Brains of COVID-19 Patients,” includes some disturbing findings.

Attacking ACE2 Receptors

The study, led by Andrew R. Marks, a cardiologist and chair of the Department of Physiology and Cellular Biophysics at the Vagelos College of Physicians and Surgeons at Columbia University in Manhattan, consisted of analysis of brain tissue collected from 10 people who died from COVID-19.

Marks’s team looked posthumously at the brains of four women who ranged in age from 38 to 80, and six men, ages 57 to 84.

It’s already known that the spike protein of SARS-CoV-2 binds to ACE2 receptors all over the body, including in the heart, lungs, kidneys, and epithelial cells that line the blood vessels.

Scientists also believe that the multi-system failure that can result in death from COVID-19 is likely due to this invasion of heart and lung cells via these ACE2 receptors.

Since the receptors have been invaded by the virus, the activity of the enzyme associated with the receptors (angiotensin-converting enzyme) is reduced, as scientists explained in a 2021 article published on The Conversation.

The damage to the lungs and heart is usually uppermost in doctors’ minds when patients are experiencing severe illnessBut, it turns out, there are also ACE2 receptors in the brain.

Unless you’re a neuroscientist, this is pretty technical. Stay with me anyway. Decreased ACE2 activity is associated with increased activity in transforming growth factor-beta (“TGF-beta”). And high levels of TGF-beta in the brain are associated with irregularities in the “tau” proteins that stabilize nerve cells, specifically due to something called “hyperphosphorylation.”

Phosphorylation, a normal biological process, is the addition of phosphate to an organic molecule, in this case, the tau protein.

Hyperphosphorylation is the addition of too many phosphate groups at too many sites.

Hyperphosphorylation can result in proteins with excess filaments that get tangled up. And these tau filament “tangles” are associated with Alzheimer’s disease.

Leaky Brains

Marks and his five colleagues at Columbia University investigated whether people who died of COVID-19 exhibited evidence of tau protein irregularities that are associated with Alzheimer’s.

A significant body of recent research suggests that calcium ions “leaking” from certain ion channels in the brain, known as ryanodine receptors, may cause these tau irregularities.

Ion channels enable the flow of ions through cell membranes, including brain cells (neurons). In a nutshell, ions enable the flow of electrical charges throughout the body and this flow is critical to the function of all cells. It’s, in one sense, the communication system of the body and one of the primary mechanisms of brain function.

Healthy brain function relies on ion channels, such as the ryanodine receptors just mentioned, operating as they should. Just as there are dangers when an electrical wire is “leaking” electricity due to a short, there are risks when these ion channels leak ions. Oxidative stress may be responsible for depleting calbindin, a protein that helps keep these channels closed, preventing them from leaking. When the levels of calbindin are low, channels that should remain closed may start to leak calcium.

Too many calcium ions floating around in the brain or anywhere else in the body can cause a number of health problems.

Marks’s team examined the brain tissue of the 10 people who died from COVID to see if there was evidence of leaks.

More specifically, they analyzed the contents of the brain tissue for markers of TGF-beta activity. They found evidence of increased TGF-beta activity in both the cortex and the cerebellum. They also found evidence of increased oxidative stress.

Cerebellum Concerns

People who suffer from Alzheimer’s show evidence of tau filament “tangles” only in the cortexes of their brains, not in the cerebellum.

However, this Columbia University research indicated that, unlike with Alzheimer’s, COVID may cause disturbances in the cerebellum as well.

The cerebellum is involved in balance, coordination of movement, language, and posture, according to the University of Texas Health Science Center.

Other recent research has shown that 74 percent of hospitalized COVID patients have had coordination problems. If COVID is compromising the cerebellum as well as the cortex, this may help explain the coordination issues clinicians have observed.

Interestingly, though this was a small study, all the people who died had evidence of brain pathology. The TGF-beta marker was found in all the brains, even those of the younger patients who had exhibited no sign of dementia prior to coming down with COVID-19.

Most people have heard that the presence of beta-amyloid plaques in the brain is an indication of Alzheimer’s. Even though lowered ACE2 activity is also associated with an increase in beta-amyloid plaques, the Columbia team didn’t find any changes in the pathways that lead to the formation of amyloid beta in the brains of the patients who died from COVID (with the exception of one 84-year-old male who was previously suffering from dementia). This is one notable distinction between the pathology of COVID-19 and Alzheimer’s or dementia.

Treating Neurological Symptoms

Marks’s interest in the ryanodine ion channels is long-standing, and his recent COVID-related research may lead to financial benefits should other researchers affirm his findings. In 2011, a research team led by Marks demonstrated that a class of drugs, Rycals, may be effective in treating heart failure and muscle disorders by stabilizing the same ryanodine ion channels this new research indicates may be affected by COVID-19 infections.

One drug from this class, ARM210, has been in the clinical-trial stage but has been officially classified as an orphan drug because the illness it was intended to treat was so rare.

Marks told ScienceDaily that his study indicates a potential target for therapeutic interventions for the neurological symptoms of COVID.

“My greatest hope is that other laboratories will look into our findings, and if they are validated, generate interest in a clinical trial for long COVID,” he said.

Both Columbia University and Marks own stock in ARMGO Pharma, Inc., the company that has been developing drugs to target ryanodine channels. They also own patents on Rycals, according to a conflict of interest statement at the bottom of this study. Another of the study’s co-authors, Steven Reiken, has been consulting for ARMGO. While conflicts of interest like these are fairly typical for published scientific research, and they don’t invalidate the research, they are an important part of the overall picture that shouldn’t be ignored.

It also isn’t unusual for a drug created for one purpose to find new life treating other conditions. In some cases, these new uses prove more important than the original intended use of the drug.

In their paper, the Columbia team wrote that “ex vivo treatment of COVID-19 patient brain samples with the Rycal drug ARM210 … fixed the channel leak.”

While that may suggest a promising avenue for further investigation, applying a drug to brain tissue in the lab is a long way from giving it to living patients.

Vaccine-Linked Neurological Damage

While COVID is linked to neurological issues, the same also appears to be true with the vaccine itself. My colleague Stephanie Seneff, a senior research scientist at the Massachusetts Institute of Technology and author of the book “Toxic Legacy,” is concerned that COVID-19 vaccines also have the potential to cause brain damage.

Vaccines produce the spike protein, which is the part of the virus that binds to the ACE2 receptors,” said Seneff, who wasn’t involved in the Columbia research. “I suspect this means that the vaccine could also disable the receptors and cause the same neurological damage.”

In fact, Seneff said, brain damage from the vaccine may be more common than brain damage from the naturally acquired infection. Vaccine-induced spike proteins “get into the brain more easily than the virus does,” she said. “The virus only gets into the brain when a person has a compromised immune system. But the vaccine is injected into the muscle, which means it bypasses natural barriers that would normally keep the virus out of the brain.”

In May 2021, Seneff and her colleague Dr. Greg Nigh, an oncologist based in Portland, Oregon, published a paper in the peer-reviewed International Journal of Vaccine Theory, Practice, and Research explaining their hypothesis that the mRNA vaccines may be worse than the disease itself.

Since then, she said, she has been studying the reports of vaccine adverse events that are collected by the Centers for Disease Control and Prevention. In this new research, Seneff has found that 96 percent of all of the reported adverse outcomes in the year 2021 that have been related to neurological issues are connected to COVID vaccines. These adverse neurological events include memory disorders, mobility issues, difficulty swallowing, and loss of sense of smell.

All these things that are showing up in VAERS are striking,” Seneff said. “Overwhelmingly, the events that show neurological issues are following COVID-19 vaccines. I honestly don’t know why people aren’t absolutely shocked by these numbers. Compared to the other vaccines, these vaccines seem tremendously dangerous.”

*  *  *

Jennifer Margulis, Ph.D., is an award-winning journalist and author of “Your Baby, Your Way: Taking Charge of Your Pregnancy, Childbirth, and Parenting Decisions for a Happier, Healthier Family.” A Fulbright awardee and mother of four, she has worked on a child survival campaign in West Africa, advocated for an end to child slavery in Pakistan on prime-time TV in Paris, and taught post-colonial literature to non-traditional students in inner-city Atlanta. Learn more about her at JenniferMargulis.net.

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special thanks to G for sending this to us;

ivermectin is a powerful anti-cancer remedy, 9 peer-reviewed studies conclude

Inbox

Gijsbert GroenewegenSat, Apr 16, 9:00 PM (16 hours ago)
to Gijsbert

https://www.naturalnews.com/2022-04-15-ivermectin-cancer-cure-nine-studies-conclude.html

Ivermectin is a powerful anti-cancer remedy, 9 peer-reviewed studies conclude

Friday, April 15, 2022 by: Ethan Huff 
Tags: alternative medicineanticancercancer solutionscancer treatmentsCOVIDdiscoveriesgoodcancergoodhealthgoodmedicinegoodscienceivermectinOncologyremedyresearch

This article may contain statements that reflect the opinion of the author

Bypass censorship by sharing this link:

Image: Ivermectin is a powerful anti-cancer remedy, 9 peer-reviewed studies conclude

(Natural News) By now, most plandemicskeptics are aware of the fact that ivermectin, a cheap, off-patent anti-malaria drug, is a powerful remedy for the Wuhan coronavirus (Covid-19), hence why the government does not want people to have it. But did you also know that ivermectin treats cancer?

At least nine different peer-reviewed studies demonstrate how safe and effective ivermectin wards off the Big C, threatening the multi-billion dollar cancer industry. There are two industries, in other words, that ivermectin threatens: the covid industry and the cancer industry.

1) In 2017, research published in the journal Biochemical and Biophysical Research Communications found that ivermectin preferentially treats renal cell carcinoma (RCC) while protecting normal kidney cells. RCC tumor growth is also delayed by ivermectin, which induces mitochondrial dysfunction and oxidative stress while increasing mitochondrial biogenesis.

2) A year later, research published in the journal Molecular Medicine Reports found that ivermectin preferentially targets stem cell population in MDA-MB-231 human breast cancer cells.

“Ivermectin has been demonstrated to be safe, following treatment of millions of patients with onchocerciasis and other parasitic diseases, which makes it a strong candidate for further studies investigating its potential use as a repurposed drug for cancer therapy,” reported the National Cancer Institute in Mexico City.

3) Another study published that same year in the American Journal of Cancer Research, also out of Mexico, determined that ivermectin is “a strong candidate for repositioning” as an anti-tumor remedy.

Brighteon.TV

4) An earlier study published in EMBO Molecular Medicine back in 2014 similarly found that ivermectin inhibits the expression of WNT-TCF targets, which are implicated in both intestinal and lung cancers.

Ivermectin selectively inhibits TCF-dependent, but not TCF-independent, xenograft growth without causing any obvious side effects.

In vivo, Ivermectin selectively inhibits TCF-dependent, but not TCF-independent, xenograft growth without obvious side effects. Given that Ivermectin is a safe anti-parasitic agent used by 200 million people against river blindness, our results suggest its additional use as a therapeutic WNT-TCF pathway response blocker to treat WNT-TCF-dependent diseases including multiple cancers,” researchers wrote.

Ivermectin works wonders against cancers of all types

5) In 2020, research published in Pharmacological Research identified ivermectin as a drug that promotes the death of cancer cells by regulating the tumor micro-environment in breast cancer.

Ivermectin also preferentially targets leukemia cells at low concentrations while leaving normal hematopoietic cells alone. The drug also targets various ovarian cancer cells lines and also inhibits the proliferation of five renal cell carcinoma cell lines without affecting normal kidney cells.

6) Also in 2020, a study published in the EPMA Journal found that ivermectin hits specific targets in ovarian cancer, suppressing ovarian cancer cells. The drug worked so well that researchers said it can be used to make personalized drug therapy, also known as predictive, preventive, and personalized medicine (PPPM), for ovarian cancer.

7) Researchers from the Instituto Nacional de Cancerologia in Mexico City discovered that same year that ivermectin reduces both cell viability and colony formation capacity while fighting against tumors.

8) In 2021, research published in the journal Frontiers in Pharmacology concluded that ivermectin increases ROS production and inhibits the cell cycle in the S phase to inhibit colorectal cancer cells.

9) Also in 2021, research published in the journal BMC Cancer found that ivermectin inhibits the proliferation of esophageal squamous cell carcinoma (ESCC) cells by inducing mitochondrial dysfunction, suppressing NF-?B signaling and promoting apoptosis.

As you can see, ivermectin is something of a wonder drug when it comes to cancer. This is precisely why it is off-limits, and why Americans need to speak out and start demanding access to this inexpensive, life-saving medication.

More related news coverage can be found at Cancer.news.

Gijsbert Groenewegen

Silverarrowpartners

+1.646.247.1000 

END

Truth Bombshell: 9 peer-reviewed studies conclude that Ivermectin is a powerful, highly-effective anti-cancer drug – The COVID Blog™

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Robert Hryniak11:00 AM (0 minutes ago)
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Really ?

GLOBAL ISSUES

CANADA

Canada Can’t Find Enough Workers To Fulfill Trudeau’s Promise To Build More Houses

BY TYLER DURDEN

SATURDAY, APR 16, 2022 – 09:00 PM

The Bank of Canada has committed to trying to cool off the country’s housing market (and stem inflation more broadly) with a 50 bp rate hike, but PM Justin Trudeau’s efforts to try and undercut housing prices no matter the cost as mortgage debt surges has run into another obstacle that policymakers should have perhaps anticipated: in the country of nearly 40 million people, there simply aren’t enough workers to deliver on the Liberal Government’s plans.

Interestingly, this remains true despite the Trudeau government’s best efforts to try and spur immigration. Maybe they shouldn’t have alienated all of those blue-collar workers during the “Freedom Truckers” episode.

As for the government’s promises, boosting housing supply (via generous federal subsidies: the largest housing measure in the new budget is a C$4 billion – $3.2 billion) has been the centerpiece of the government’s plan.

Boosting supply was the centerpiece of the housing plan laid out in the Trudeau government’s spring budget. It said Canada has averaged around 200,000 new housing units annually in recent years and pledged to “double our current rate of new construction over the next decade.”

Unsurprisingly, a handful of analysts quoted by BBG have poured cold water on the government’s promises. Given the current rate of housing construction, doubling it simply isn’t feasible due to two primary reasons: skilled blue-collar labor is “scarce”, and municipal governments are prepared to fight any efforts to combat increased housing density (text courtesy of Bloomberg).

  • The plan quickly prompted skepticism from analysts. “Dollars to doughnuts this won’t happen, and not for lack of good intentions,” Robert Kavcic, senior economist with the Bank of Montreal, wrote this week in a note to investors.
  • Avery Shenfield, chief economist at CIBC World Markets, also doubted the feasibility of the plan given labor constraints: “Without a targeted immigration plan, or a concerted effort to convince young residents to consider taking up a hammer rather than a laptop, we’re going to continue to struggle to ramp up supply enough to allow more Canadians to own their own castle,” he wrote Thursday.

Trudeau appointee Ahmed Hussen, who is the current Canadian housing minister, has offered a feeble defense of the government’s promises, while trying to slough off blame on municipal governments. Here are some highlights from an interview he did with Bloomberg.

  • “The issue of housing supply is critical to our future success as a country,” Hussen said in an interview with Bloomberg. Hussen said he knows this skepticism is out there, but argued his government has already shown it can deliver on ambitious programs. Last year the Liberals pledged to get every province to sign on to a universal child care program, and they got the final piece in place last month when Ontario agreed.
  • “Skepticism can be expressed, but the fact is we have shown a track record and an ability to build and collaborate with other orders of government,” he said.
  • “You have to demonstrate the political will to tackle those barriers,” Hussen said of municipalities. As examples, he pointed to zoning changes to allow for more density near transit stations and requiring affordable housing in new developments.
  • “If they’re not willing to do any of those, or even present a credible plan to tackle these barriers, then we simply will not engage,” Hussen said. “But I believe that all municipalities will welcome this,” he added. The program has support from the Federation of Canadian Municipalities and the big city mayors’ caucus, Hussen said.

Canadian housing prices were already high before the pandemic, but they rose more than 50% during the past two years due to similar factors that drove US housing prices higher as well.

Source: Bloomberg

The price surge has become a critical political issue for Trudeau, and his conservative opponents are already seizing on it to hammer him and his Liberal government. The big question now is whether he will be able to tackle it before the next federal election in October 2025.

end  

VACCINE MANDATES/

VACCINE INJURIES//

Fully vaccinated Australia now seeing massive rise in “unexplained heart attacks” – NaturalNews.com

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Robert Hryniak9:46 AM (8 minutes ago)
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https://www.naturalnews.com/2022-04-15-vaccinated-australia-massive-rise-unexplained-heart-attacks.html

Cheers
Robert

VACCINE IMPACT

Shanghai Descends into Chaos as Taiwan Military Distributes Survival Handbook to Citizens in Preparation for China Invasion

April 14, 2022 3:51 pm

Reports coming out of Shanghai show riots now breaking out among desperate people fighting back against police forcing people into quarantine concentration camps, and horrible side effects from the Sinovac COVID-19 vaccines where people are reportedly dropping dead soon after the shots. In nearby Taiwan, the military is taking unprecedented measures by distributing a 28-page public emergency handbook to prepare their citizens to handle an imminent Chinese invasion. Shanghai is China’s largest city and largest port, and what happens there affects the rest of the world, especially in regards to the collapsing supply chain. What is happening in Shanghai should be a wake up call to everyone to start preparing for what is coming next. Taiwan is doing this, by distributing information to people to get ready and prepare, but people in the U.S. seem to be distracted by an overflow of information right now, and if you don’t focus on preparing for something on the scale of what is happening in Shanghai, it could literally cost you your life.

Read More…


Fauci Praises China’s Lockdown in Shanghai: “You Use Lockdowns to Get People Vaccinated”

April 14, 2022 4:36 pm

Appearing on MSNBC Wednesday, Anthony Fauci let the truth about lockdowns slip… that they are theatre designed to scare people into getting vaccinated. When asked by host Andrea Mitchell about the unfolding lockdown hellscape in China, Fauci actually praised the Communist government’s actions. Fauci stated “China has a number of problems, two of which are that the complete lockdown, which was their approach, a strictest lockdown you’d never be able to implement in the United States. Although that prevents the spread of infection, I remember early on they were saying, and I think accurately, they were doing better than anyone else.” Then came the kicker as Fauci declared “You use lockdowns to get people vaccinated so that when you open up, you won’t have a surge of infections.”

Read More…


1000% Increase in Vaccine Deaths and Injuries Following Pfizer COVID-19 EUA Vaccine for 5 to 11 Year Olds

April 16, 2022 7:26 pm

Pfizer announced this week that they were asking the FDA to issue an emergency use authorization (EUA) for a “booster” COVID-19 vaccine for children between the ages of 5 and 11. The FDA issued an EUA for the first Pfizer COVID-19 shots for this age group of children in October of 2021. At the time, a doctor on the FDA Advisory Committee deliberating on whether or not an EUA should be given for this age group, stated that the only way to find out if the Pfizer COVID-19 vaccines were safe for this age group was to start injecting them with it. “We’re never gonna learn about how safe the vaccine is until we start giving it, and that’s just the way it goes.” So far over 10,000 cases have been filed to VAERS (Vaccine Adverse Event Reporting System) of deaths and injuries among children in this age group following the experimental COVID-19 vaccines. By way of contrast, there have been 939 cases of vaccine adverse events during this same time period for all of the FDA approved vaccines for children in this age group. That means there has been an increase of over 1000% of vaccine injuries and deaths for this age group following the COVID-19 vaccines.

Read More


Michael Every

7. OIL ISSUES

This will turn out to be the end of USA hegemony

(Paraskova/OilPrice.com)

Russia Says Some Buyers Agreed To Rubles-For-Gas Payments

MONDAY, APR 18, 2022 – 03:30 AM

Authored by Tsvetana Paraskova via OilPrice.com,

Some of Russia’s natural gas customers have agreed to pay in rubles for Russian gas, Deputy Prime Minister Alexander Novak said on Friday.

Last month, Vladimir Putin said that “unfriendly” nations should pay in rubles for natural gas.

Russia had set a March 31 deadline for the countries it considers “hostile”—including the United States, all EU member states, Switzerland, Canada, Norway, South Korea, Japan, and many others—to start paying in rubles for natural gas.

The EU has rejected Putin’s demands for payments in rubles, while Russia did not immediately cut off the gas supply to Europe after April 1, partly because it is dependent on revenues from gas and partly because payments for gas delivered after April 1 are not due until later this month or early May.  

The Kremlin has signaled the gas-for-rubles demand is just the beginning of a switch to the Russian currency for Russian exports.

“We expect the decision [to switch to rubles] from other importers,” Novak was quoted by Reuters as saying at an energy ministry in-house magazine.

The Russian official, however, did not disclose which buyers had agreed to pay in rubles for gas.

Armenia, for example, has already started paying in rubles for Russian gas, Armenian Economy Minister Vahan Kerobyan told Russian outlet RBC in an interview published on Friday. According to the Armenian minister, the pricing of the gas is being made in U.S. dollars, but the actual payment is now being made in Russian rubles.

In the EU, Hungary—whose Prime Minister Viktor Orban has been in close ties with Putin for a decade—said last week that it was ready to pay in rubles for Russian natural gas. With comments from officials over the past week, Hungary has broken ranks with the EU, which has been seeking to present a unified front in the face of Putin’s demands for rubles for Russian gas.

END

Oil Spike Erases Biden-SPR Benefits – Now What?

MONDAY, APR 18, 2022 – 10:06 AM

On the heels of lower Russia output (sanctions and snubs of Urals crude, despite record discounts) and Libya’s oil production plunging by more than half a million barrels a day amid a wave of political demonstrations engulfs the OPEC member’s energy industry, oil prices have extended their gains this morning, with WTI now erasing all of the lower price benefits from Biden’s SPR Release Plan announced in late-January. It also appears Biden’s relenting on Ethanol and land leases has done nothing at all (for now).

WTI Crude topped $108 this morning..

This is a major problem for President Biden as ‘the largest release’ in history has achieved nothing at all in terms of his endgame hope of reducing gas prices at the pump, which are now turning up once again, following crude and wholesales gasoline prices back towards record highs…

As an aside, here’s what has actually occurred since President Biden unleashed his cunning plan. The entire term structure for the price of oil (out to 2027) has increased in cost!!!

Now what Joe?

END

Then this:

US NatGas Spikes Above $8 For First Time Since 2008 As LNG Exports ‘Save Europe’

MONDAY, APR 18, 2022 – 01:22 PM

US Natural gas prices surged to the highest level in 13-years on a confluence of factors, including shrinking inventory levels, strong export demand to Europe, and colder temperatures. 

Futures rose to $8.05 per million British thermal units during Asian trading, about double since the beginning of the year…

The first break above $8 since 2008…

Goldman Sachs’ Ryan Voon wrote to clients on Monday that the spread between US and EU/Asia prices is beginning to narrow due to supply constraints. 

“US nat gas prices have remained below rates in EU and Asia due to shale field supply last year, but the discount has been steadily shrinking.

“Adding to the market tightness is the fact that backup US inventories held in underground caverns and aquifers are below normal for this time of year and production is holding flat,” Voon wrote. 

The latest data from the Energy Information Administration showed US inventories only grew by 15 billion cubic feet in the week ended April 8, less than average for this time over the last five years. Overall stocks are 18% below seasonal levels.

Inventory woes also come as the US exports “every molecule of liquefied natural gas possible to help Europe reduce its reliance on Russian energy supplies,” Bloomberg said.

For context – on an oil-barrel-equivalent basis, US NatGas is now trading at $136 (vs $109 for WTI)…

But there’s a significant problem.

The US’ mission to resupply Europe with LNG is taking critical supplies away from domestic markets and boosting prices sky-high, crushing American households to “save” Germans from shortages. 

Then there’s the weather component. Below-average temperatures are expected across the northern U.S. between April 25 to May 1. Colder weather will drive heating demand and the need for natgas. 

The ongoing conflict in Ukraine and Western sanctions crimping Russian energy exports will further reduce the world’s natgas supplies and continue pressuring prices higher. 

Based on soaring commodity prices, trends toward protectionism are rising, and it wouldn’t surprise us if Americans demand a very similar approach as the rush to resupply Europe with energy products backfires. 

8 EMERGING MARKET& AUSTRALIA ISSUES

Australia////  NEW ZEALAND/ SOUTH AFRICA/BRAZIL/ARGENTINA/INDIA

end 

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

Euro/USA 1.0807 UP .0009 /EUROPE BOURSES //ALL GREEN 

USA/ YEN 126.59   UP  0.251 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3033 DOWN   0.0012

 Last night Shanghai COMPOSITE CLOSED DOWN 15.72 PTS OR  0.49%

 Hang Sang CLOSED

AUSTRALIA CLOSED    // EUROPEAN BOURSES OPENED ALL GREEN 

Trading from Europe and ASIA

I) EUROPEAN BOURSES ALL GREEN  

2/ CHINESE BOURSES / :Hang SANG CLOSED 

/SHANGHAI CLOSED DOWN 15.72 PTS OR 0.49%

Australia BOURSE CLOSED 

(Nikkei (Japan) CLOSED DOWN 293.48 PTS OR 1.08%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1991.75

silver:$25.96

USA dollar index early MONDAY morning: 100.57  UP 24  CENT(S) from THURSDAY’s close.

THIS ENDS MONDAY MORNING NUMBERS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing MONDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 1.71%  UP 0  in basis point(s) yield

JAPANESE BOND YIELD: +0.245%  up 0 AND 2/10   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 1.63%// DOWN 11   in basis points yield 

ITALIAN 10 YR BOND YIELD 2.51 UP 1    points in basis points yield ./

the Italian 10 yr bond yield is trading 88 points higher than Spain.

GERMAN 10 YR BOND YIELD: RISE TO +0.84% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.66% 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 MONDAY  

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

Euro/USA 1.0790  DOWN .0009    or 9 basis points

USA/Japan: 126/72 UP .378 OR YEN DOWN 37  basis points/

Great Britain/USA 1.3024 DOWN 21  BASIS POINTS

Canadian dollar DOWN 9 BASIS pts to 1.2611

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED ..UP 6.3770  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)..6.3781

TURKISH LIRA:  14.68  EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.

the 10 yr Japanese bond yield  at +0.245

Your closing 10 yr US bond yield UP 10  IN basis points from THURSDAY at  2.849% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

 USA 30 yr bond yield: 2.947  UP 8 in basis points 

Your closing USA dollar index, 100.69 UP 37   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 MONDAY: 12:00 PM

London: CLOSED UP 20.22PTS OR 0.48%

German Dax :  CLOSED  UP 87.41 POINTS OR 0.62%

Paris CAC CLOSED UP  47.21PTS OR 0.72% 

Spain IBEX CLOSED UP 81.20 PTS OR 0.97%

Italian MIB: CLOSED UP 140.19 PTS OR 0.57%

WTI Oil price 107.90   12: EST

Brent Oil:  112.97  12:00 EST

USA /RUSSIAN ///   RUBLE FALLS TO:  82.63   DOWN 1  7/8  RUBLES/DOLLAR

GERMAN 10 YR BOND YIELD; +.840

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0778 DOWN  .0021   OR DOWN 21 BASIS POINTS

British Pound: 1.3006 DOWN  .0039 or DOWN 39 basis pts

USA dollar vs Japanese Yen: 126.94 UP .603//YEN DOWN 60 PTS

USA dollar vs Canadian dollar: 1.2615 UP .0013 (CDN dollar DOWN 13 basis pts)

West Texas intermediate oil: 108.02

Brent OIL:  112.96

USA 10 yr bond yield: 2.851 UP 4 points

USA 30 yr bond yield: 2.944  UP 2  pts

USA DOLLAR VS TURKISH LIRA: 14.65

USA DOLLAR VS RUSSIA///USA/ ROUBLE:  79.75 DOWN 1/4 ROUBLES (ROUBLE DOWN  UP 1/4 ROUBLES/USA

DOW JONES INDUSTRIAL AVERAGE: DOWN 38.62 PTS OR 0.11%

NASDAQ 100 UP 22.94 PTS OR 0.24%

VOLATILITY INDEX: 22.94 UP 0.24 PTS (1.96%)

GLD: 184.61 UP 0.57 PTS OR 0.31%

SLV/ 23.87 UP .23 PTS OR 0.97%

end)

USA trading day in Graph Form

Commodities Soar As Bonds, Stocks, & Bitcoin Rollercoaster Wildly

MONDAY, APR 18, 2022 – 04:00 PM

The big headlines today – with Europe still closed for Easter – was the surges in commodity markets…

WTI topped $109 – erases Biden SPR plan benefits…

US NatGas surged above $8 for the first time since 2008

That’s equivalent to $136 per barrel oil…

And Corn topped $8 for the first time since 2012…

Other markets were wild rollercoasters with stocks dumping overnight, soaring at the cash open, dumping as Europe closed (it was already closed but the algos weren’t told), then pumping back to the highs of the day, before puking it all back again. Small Caps were the worst performers but the swings in Nasdaq were the most aggressive…

The retracement of the massive short-squeeze of the 2nd half of March continues…

Source: Bloomberg

The 2008 analog continues to hold…

Source: Bloomberg

Morgan Stanley’s Mike Wilson has an interested ‘signature’ on his BBG Bio…

Bonds followed a similar path with an overnight bid was rejected and yields pushed higher during the US day session. The longer-end underperformed while the belly ended the least changed on the day…

Source: Bloomberg

The yield curve continued to steepen with 2s10s back up to +40bps and 7s10s now uninverting…

Source: Bloomberg

The dollar continued higher today…

Source: Bloomberg

Gold futures surged back up above $2000 overnight and then puked it all back to close lower on the day…

Bitcoin was even more chaotic with a big dump to almost $38500 before someone went panic-bid and lifted the cryptocurrency back up to $41,000…

Source: Bloomberg

Finally, President Biden has a problem as the resurgence in crude prices (and implicitly wholesale gasoline prices) mean that gas prices at the pump are turning back up and are on course to erase all of the albeit tiny price drop prompted by the Biden SPR Release plan…

Source: Bloomberg

Will we see record-er lows in Biden’s approval ratings after this?

END

I) /MORNING TRADING/

AFTERNOON

END

II)USA data

NY Empire Fed manufacturing survey soars in March but prices paid soars as well

(zerohedge)

Empire Fed Manufacturing Survey Soars In March, But…

FRIDAY, APR 15, 2022 – 09:55 AM

While most of the world sleeps in, the busy bees at US data central had some interesting ‘soft’ and ‘hard’ macro releases to publish for the 12 people paying attention.

We start with what is a truly stunning rebound in the Empire Fed Manufacturing survey which exploded from -11.8 to +24.6 in March (smashing the expectations of a rise to +1.0 and far above ene the highest of analyst forecasts)…

Source: Bloomberg

Aside from June 2020, this is the largest rebound ever in the manufacturing survey as Prices Paid soared to record highs and orders increased to the highest level of the year. Against all of that ‘great news’, factory employment growth in New York softened.

Perhaps the most ironic thing about the massive spike in the index is the fact that the index of expected business conditions six months from now slid more than 21 points to 15.2, one of the lowest readings since the pandemic began.

NY State manufacturers clearly expect slower growth in orders and shipments.

Overall, U.S. factory production rose in March by more than forecast, marking the third straight month of gains that show steady progress for manufacturers against a backdrop of gradually improving supply chains. The 0.9% increase followed a 1.2% gain in February. Manufacturing output increased at an annual rate of 5.4% in the first quarter, while total production grew an annualized 8.1%.

The pickup in March manufacturing output was broad and included a 7.8% surge in production of motor vehicles.

Excluding autos and parts, factory output increased 0.4%.

Capacity utilization at factories rose to 78.7%, the highest since 2007, from 78.1% a month earlier.

Plenty of room for Fed rate-hikes!

-END-

IIB) USA COVID/VACCINE MANDATES

end

end

iiia) USA inflation//SHIPPING commentaries//LOG JAMS//

Another fertilizer shock as hail delays are hurting farmers

(zerohedge)

Black Swan Event? Top US Fertilizer Producer Hit With Rail Delays To Midwest

FRIDAY, APR 15, 2022 – 08:00 PM

A fertilizer supply shock is imminent for US farmers as CF Industries Holdings, Inc. warned Thursday that rail shipments of crop nutrients would be reduced to top agricultural states, which couldn’t come at the worst time as the Northern Hemisphere spring planting season is underway. 

The world’s largest fertilizer company said Union Pacific had hit it with railroad-mandated shipping reductions that would impact nitrogen fertilizers such as urea and urea ammonium nitrate shipments to Iowa, Illinois, Kansas, Nebraska, Texas, and California. Union Pacific told CF Industries without advance notice to reduce the volume of private cars on its railroad immediately. This means CF Industries had to decrease shipments by a whopping 20% to stay compliant. 

“The timing of this action by Union Pacific could not come at a worse time for farmers,” said Tony Will, president and chief executive officer of CF Industries.

“Not only will fertilizer be delayed by these shipping restrictions, but additional fertilizer needed to complete spring applications may be unable to reach farmers at all. By placing this arbitrary restriction on just a handful of shippers, Union Pacific is jeopardizing farmers’ harvests and increasing the cost of food for consumers,” Will said. 

The move is particularly problematic for the Midwest, where 90% of corn and 80% of soybeans are produced in the US. The region is a critical node in the global food system, and tightening the fertilizer supply will only drive up food prices by shrinking harvests. 

Farmers have been pressured by record-high fertilizer and diesel costs.

CF Industries released an ominous warning about the lack of fertilizer across the Midwest this year and how it may cause food supply woes: 

“If farmers are unable to secure all the nitrogen fertilizer that they require in the current season because of supply chain disruptions such as rail shipping restrictions, the Company expects yield will be lower.

“This will likely extend the timeline to replenish global grains stocks. Low global grains stocks continue to support high front month and forward prices for nitrogen-consuming crops, which has contributed to higher food prices,” CF Industries said. 

Josh Linville, direct of fertilizer at StoneX, called this a “black swan” moment for the Midwest. 

In response to record-high fertilizer costs and tight supply, some farmers have already transitioned millions of acres from corn to soybeans this year (soybeans require very little fertilizer versus corn). 

Last month, a tweet from Douglas Karr, the founder of the businesses blog Martech Zone, made the point that “media isn’t even warning you” a food crisis in America is emerging. 

end

The law of supply and demand:  too many truck drivers and not enough demand

(Premack/Freightwaves)

Truck Drivers Are Facing Another Bloodbath

SUNDAY, APR 17, 2022 – 11:30 AM

By Rachel Premack of FreightWaves,

For his entire life, Roy Walters managed bars and restaurants: upscale Italian eateries, dive bars and even strip clubs. Then, in March 2020, the pandemic shuttered his livelihood.

A truck driver buddy suggested that the newly unemployed Walters join him in the industry. So Walters drove an 18-wheeler around the country, seeing places like Seattle and the Grand Canyon, before he decided to own his own fleet. Today, the Clearwater, Florida, resident operates seven trucks.

Walters mostly stays at home, but sometimes he gets behind the wheel again. “For me, it’s almost like a vacation, except I get paid,” he said.One trucking fleet owner said, “The way the rates are, you have to run twice as hard to make ends meet.”

The trucking business has been burgeoning since he got into it. The pandemic sparked historic demand for durable goods, which is the kind of stuff Walters and his employees haul in their dry vans. But a maelstrom of inflation, rising diesel prices and overcapacity in the trucking market is sparking a sudden tumble of freight rates. “It’s been a struggle,” Walters said. “That’s for sure.”

The indicators are worrisome

Demand for freight has undeniably slowed. And, at FreightWaves, we believe a recession in trucking might be next.

Wednesday, the much-adored Cass Transportation Index Report declared that the freight market is in a slowdown, though the index’s experts said it’s too soon to declare a recession. Banks like Cowen and Bank of America have recently downgraded trucking stocks in their own notes to investors.

Dry van rates have tanked by 37% from Dec. 31, according to an April 8 transportation note by Bank of America analyst Ken Hoexter. Those rates are on the spot market – where loads are picked up on demand, rather than through a contract. The spot market is just a fraction of the trucking world, but spot numbers point to where contract rates will go.

Another indicator of a downturn is the drop in contracted loads rejected by carriers. Contrary to the, um, idea of a contract, truckers can reject loads they previously agreed to carry. Usually, they reject a contract load if they can get a better job on the spot market. Analysts follow the outbound tender reject index to see if the trucking market is hot or not.

Compared to last year, the market is decidedly not. Only 11% of loads are getting rejected right now, way down from 25% at this time last year.(FreightWaves SONAR)

Through the end of 2020 and throughout 2021, trucking was “white-hot,” said Amit Mehrotra, managing director of transportation and shipping research at Deutsche Bank. As Avery Vise of FTR Transportation Intelligence told The Wall Street Journal on Wednesday, trucking companies could expect to simply “print money” amid this market.

Now, truck drivers who have entered this industry in recent months are scrambling to stay profitable – and some have already stopped driving.

What happened?

Demand for random crap softening amid influx of driving capacity

If your high school economics education was as prestigious as mine, you know that high supply or low demand leads to decreased prices. Right now, there’s both an increase of supply (truck drivers) and decrease of demand (loads for drivers to move).

The supply of truckers is way up. Thousands of new fleets are registered each month in the U.S., and it’s reached a fever pitch in recent months. In February alone, a record 20,166 trucking companies entered the market. (Keep in mind, the typical trucking company is very small; 89% have one to five trucks.)

The labor market for truckers was unusually tight through the end of 2020 and throughout 2021 , but an ACT Research survey of trucking companies shows that driver availability has been improving. Mehrotra told me workers have finally depleted the savings they built up during the pandemic and are returning to work.

Meanwhile, demand for truckers has softened. Consumers are slashing their spending – particularly when it comes to buying more and more stuff. Core retail sales fell by 1.2% in February, the most recent number available from the feds. Those sales will likely continue to soften. In response to historic inflation, 84% of Americans surveyed by Bloomberg News said they would cut back spending. Some have already been forced to cut back, according to a CNBC poll.

And those who are still spending are increasingly going to restaurants and concerts instead of, say, buying lots of stuff from Amazon. The latter requires far more truck drivers than the former.

There are lots of truck drivers who entered the industry when our only hobby was online shopping. But, amid inflationary pressures and a society that’s mostly reopened, consumers are buying less of those durable goods. It’s an overlap of the Venn diagram that might result in a lot of new fleets being flushed right back out of the market.

I’ll let Walters explain:

“With rates being so high, everyone and their uncle bought a truck. I wish that it had a little more stability for the drivers and the small carriers. With more trucks on the market, the shippers and brokers can kind of dictate the price – because somebody is going to take the freight.”

Return of the bloodbath?

This normalization in trucking shouldn’t come as a surprise, Mehrotra said. “It’s totally reasonable to assume the white-hot demand environment we’ve been in the past two years is going to moderate,” he told me.

Still, the plummeting freight rates are stressing out the many, many new truck drivers who started their own fleets or entered this industry in the past two years. Their experience of running a trucking business has been in an unusually favorable market. Some might not have previous experience running a business. So the plummeting rates, coupled with the spike in diesel, are a slap in the face.

It’s all reminiscent of the 2019 trucking bloodbath (which I wrote about quite a bit at my old gig at Business Insider). In 2018, trucking was booming. Drivers were receiving record-high raises amid a capacity shortage that year. Many joined the industry. Unfortunately, demand for trucking services sank at the same time. That’s a very short explanation for why 1,100 trucking companies went out of business in one year

Despite this history, some drivers aren’t worried. Travis Ludi, who is based outside of Oklahoma City, has been a truck driver for 10 years. He opened his own trucking authority just one and a half months ago. He said his realm of trucking – hauling grain for animal feed – is much steadier than the dry van world. (There is one downside to this recession-proof sector, however. Ludi also hauls the “left remnants” of kill plants to pet food factories, which he confirmed to me does not smell good!)

“A lot of companies or other owner-operators get in over their heads as the rates go up,” Ludi said. “They’re buying brand new trucks at higher prices due to inflation. Whenever rates go down to a normal level, they have to go out of business.”

Others are feeling more cautious. David Guzman in San Antonio has already parked some of his trucks. 

Guzman bought three “dirt cheap” trucks from a liquidation company in early 2020. It turned out, those trucks were previously owned by Celadon, a company that pulled in $1 billion in revenue before filing for bankruptcy amid the 2019 trucking bloodbath

When diesel started to spike this year, Guzman ran the numbers and realized he wouldn’t be able to run those trucks. He has a separate fleet that runs Amazon loads and has his equipment paid off, which is helping make ends meet. “I can’t imagine what folks that have payments on their equipment are going through right now,” he said. “The way the rates are, you have to run twice as hard to make ends meet. I can’t help but feel for my fellow truck drivers.”

In the meantime, it’s another bloodbath that these Celadon trucks might be sitting out.

end

IIIB) USA ECONOMIC STORIES

The west must certainly pay attention to this as Lake Powell’s water levels to an historic low of 3525 feet  (1075 metres)

(zerohedge)

Feds Weigh Emergency Actions As Lake Powell Hits Historic Low

SATURDAY, APR 16, 2022 – 04:00 PM

The megadrought in the US West continues to wreak havoc as Federal officials weigh reducing water deliveries downstream on the Colorado River to prevent shuttering of a massive dam that provides power to millions of people, according to AP News

Last month, Lake Powell dropped to 3,525 feet (1,075 meters), the lowest level since the federal government dammed the Colorado River at Glen Canyon (located in northern Arizona) more than five decades ago. This has caused officials at the Interior Department to propose holding back water at the dam to maintain the dam’s ability to generate power. 

Tanya Trujillo, the Interior’s assistant secretary, warned if Lake Powell drops below 3,490 feet (1,063 meters), it will produce electrical grid uncertainty for the western part of the US, potentially affecting up to five million customers across Arizona, Colorado, Nebraska, Nevada, New Mexico, Utah, and Wyoming.  

“We’re in crisis management, and health and human safety issues, including production of hydropower, are taking precedence,” said Jack Schmidt, director of the Center for Colorado River Studies at Utah State University. 

The record low water level also comes as researchers have found the US West has been experiencing some of the driest conditions in more than 1,200 years

Over the decade, drought conditions have worsened. Several major Californian reservoirs have dried up, forcing people to evacuate their boats and causing hydroelectric plants to shutter due to insufficient water supplies to spin turbines. 

Reservoirs across California are well below their historical averages (as of Apr. 14). 

According to the US Drought Monitor data, the US West is experiencing severe to extreme drought conditions. 

New forecasts by federal government meteorologists may suggest drought conditions could deteriorate even more as there’s a 59% chance of La Niña for the Northern Hemisphere through summer. What this would mean is drier conditions. 

end

Bird flu outbreak may be worse than the 2015 outbreak

(zerohedge)

Bird Flu Outbreak “Above And Beyond Rate Of Spread” Observed In 2015, Warns Industry Expert

 

SUNDAY, APR 17, 2022 – 07:00 PM

The bird flu outbreak has only been spreading around the US for two months, and some industry experts are warning the rate of spread could be worse than the devastating 2015 outbreak. 

On Friday, the US Department of Agriculture (USDA) announced yet another state where the contagious strain of highly pathogenic avian influenza has been detected. Idaho is the 27th state where the virus has been found since February. 

WaPo spoke to Gro Intelligence (ag data experts) senior research analyst Grady Ferguson who tracked the last outbreak in 2015, saying this one could be more disruptive to the poultry and egg markets. 

Ferguson said that 66 days into the outbreak, 1.3% of all US chickens had been affected, and 6% of the US turkey flock. In 2015, he said, only .02% of total chickens were affected at this same time. The number rose to 2.5% of chickens infected at the outbreak’s peak, and more than 50 million were culled. 

So far, the bird flu tsunami wave across 27 states has infected 27 million chickens and turkeys, forcing farmers to “depopulate” or cull flocks to prevent spreading. 

“We are above and beyond the rate of spread, we saw in 2015. 

“Last time, 81 percent of the cases were in the fourth and fifth month, as things exploded. What chicken egg prices did last time affected the market for years. We are two months into the outbreak now, and the safety protocols haven’t worked. I don’t want to be a Chicken Little, but I think it’s going to be worse than last time,” he said.  

National egg prices are off the charts for this time of year. The average retail cost for a dozen large eggs across the country has jumped to nearly $3, up from $1.20 in early January. 

Ferguson warned soaring egg prices “will make higher prices for all baked goods and a wide variety of processed foods from cupcakes to salad dressing. Restaurants will have a harder time justifying why they should give you a three-egg omelet for a dollar. And on the chicken meat side, the situation is also worse than it was last time.”

Besides sky-high egg prices, retail chicken breast prices per pound have surpassed a decade high. 

The emerging poultry crisis will feed into record-high food inflation that will continue decimating households’ budgets. 

end

A must read:

The Twitter bid by Musk will be a game changer

(Tom Luongo/)

Elon Musk’s Bid Reveals Twitter Is The Poison Pill To Be Cured

MONDAY, APR 18, 2022 – 06:30 AM

Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

I’ve given Elon Musk a lot of grief in the past over how he’s run Tesla Motors. Suffice it to say I’m not a fan. Deep down I’m supremely distrustful of Musk because he is, at best, a mercurial figure who is difficult to read.

He’s become the richest dude in the world partnering with governments to build some of the biggest hype machines in history. So, his offer to buy all of Twitter and take it private can cynically be seen as just another moment of ego from the 21st century’s best reincarnation of P.T. Barnum.

That said, however, strange things happen, when you acquire the kind of Fuck You Money that Musk has.

And it seems to me if you connect some dots that Musk has been planning this move for a while. Last year he came out in favor of Bitcoin. Then he took a memecoin, DOGE, and turned it into the crypto ‘flavor of the month.’

Musk’s ego is something to remain skeptical of, but it’s also hard not to respect a guy who is completely free at this point, or least free enough that he has zero fucks left to give to the regime that made him what he is.

So, when he cashed out a massive amount of money from Tesla at the peak recently it looked to me that he was getting ready to go from Elon Musk Reality TV star to the Real Elon Musk.

Most people, especially clueless bitches like Elizabeth Warren, don’t understand that most rich people are asset rich, but cash poor. Jeff Bezos may have billions of Amazon stock, but he really can’t sell a lot of it without giving a vote of no-confidence to the company itself.

It runs counter to his fiduciary interest as a board member. This isn’t to say Bezos doesn’t have money. He does, but he also doesn’t have nearly the amount of money you think he has.

So, Musk, freed from Tesla’s financial, shall we say creativity, now has real Fuck You Money. Not stock. Not assets. Cash.

And that cash he’s putting on the line today to force the moment of Twitter’s malfeasance as a public entity to its crisis point.

He has succeeded brilliantly.

He doesn’t even need to actually take control of Twitter. He’s already won.

By forcing Twitter’s board, who doesn’t own any shares in the company, to adopt a Poison Pill strategy, Musk has revealed them to be more interested in maintaining Twitter as a social control response engine rather than as a public company with a responsibility to shareholders.

The fact is, Twitter is a poison pill for society at large, all Musk did was put a price on it.

And I have to give Musk his due here, he’s performed one of the greatest public services in recent memory exposing the lengths to which Davos et.al. are willing to go to maintain their power. Because that’s what mass media to them is, a conduit of their power.

This goes far beyond Twitter’s obvious censorship and editorial bias. Musk is absolutely right that Twitter is broken. But the board and its investors willfully broke it years ago to serve a larger agenda.

The Skinner Box Bot Army

He’s also exposed just how seductive the power Twitter wields is to the people who work there. The histrionics of the employees, treating Musk’s offer like Armageddon itself, tells you they see Twitter as their personal Skinner Box to shock people into submission to their warped and solipsistic worldview.

This is the true face of stakeholder capitalism. It’s the future they have planned for us through ESG, no different really than the tyranny of the Human Resources Officer or the Compliance Officer.

When news of Musk’s bid went viral, the voices of a million Wesley Mauch’s cried out in protest.

After all, they have a revolution, or at least personal revenge fantasies, to carry out to inject poison pills into the public discourse ad nauseum.

Twitter has become a plaything of big money oligarchs using it to fuel a bot army to enrage you and waste your time. Simultaneously using those distractions to pursue a policy of blatant bias while hiding behind a broken regulatory model.

Tucker Carlson pointed out in his recent monologue that Musk has risked far more here than it looks like at first glance. The hatred and vitriol he’s uncovered goes all the way up to the SEC and the DoJ who are now investigating Tesla, further proving that these institutions are about protecting the government from the people rather than the people from thieves.

But it’s also yet another example of just how brittle and unstable these control systems are. Because who owns Twitter shouldn’t be this important. But it is.

Control systems work best when they are invisible.

Like the Doomsday Device from Dr. Strangelove which only works if everyone knows about it, Twitter as social control system only works if everyone doesn’t know it’s being used that way.

Forget the cartoons like Max Boot, Julia Ioffe, Brian Stelter and the rest of the blue-checkmarked Stasi in the media who still think they have power, the real threat to the public discourse is the unaccountability of functionaries who work at these anti-social media companies and the people who empower them.

The Persona’s The Thing

I know it’s all cool and edgy to hate Twitter, but used properly micro-blogging is a powerful tool. On the other hand, I’ve been post-Facebook for over four years and I don’t miss it a bit. I identified it then as fake intimacy and:

… a pale simulacra of real life interactions with people you are supposed to care about.

But, I don’t care about 99% of the people I went to high school with. I went to college 1100 miles from those people and barely looked back. The people I truly value from that part of my life mostly feel about Facebook the way I do.

That’s what makes them people I value.

They value the value of their closely-held opinions and don’t dilute it by publicly sharing their banality. They realize that being friends is more than dropping political stink bombs in someone’s digital living room and saying, “I dare you to not breathe.”

So, here you are on a platform that is supposed to be all about you and the last thing anyone really wants to be on Facebook is … themselves.

But Twitter is different, it’s a brilliant tool for advertising and networking. It’s also the place where the battle for ideas should play out. Twitter isn’t about being you, it’s about preparing a face to meet the faces that you meet, to quote T.S. Eliot. Used as a means to build a public persona who is both you and not you is part of its inherent charm.

Unfortunately, it’s been co-opted by culture warriors whose ideas can’t stand up to public scrutiny for the purpose of turning the public sphere into a 24/7/365 struggle session.

And this where Twitter’s real value lies and what Musk must restore if he wins this fight, in puncturing the veil of moral superiority, virtue signaling and ‘the latest thing’ of its NPC sycophants and spit in the eye of the naked emperor.

I believe Musk understands this perfectly, since he’s created the perfect Twitter persona, the billionaire of the people who can leap tall narratives in a single tweet.

It’s why they fear him and why we should back his play.

Not for his ego, but for ours.

Residual Poison

It’s been a year since r/WallStreetBets took us on a wild ride in Game Stop. Now Musk can take his finely crafted persona and turn it into an army ready to take the front lines of the culture war from the chat room to the board room.

There are many ways to beat a poison pill strategy adopted by Twitter’s board. The main one being what Musk’s already done, offer them more than the company is worth. The other is to gather a coalition of investors ready to overthrow the board without triggering the poison pill itself.

And if the board and Twitter’s Skinner Box Commandos would rather burn it to the ground than let it fall into the hands of their enemies, then so be it.

At that point, we can let a thousand flowers bloom in the ashes of Twitter’s dumpster fire.

This is the path to unlock Twitter’s value to society and free it from all editorial constraints and government censors. Force the poisoners of society to take the poison pill themselves and let the truth free.

If Musk is successful he should rebuild the company culture from the ground up and build the tools necessary to allow people to naturally curate content they want, their way and let the best ideas win.

Win or lose, are we all not entertained?

end

Federal Judge Declares Biden Admin Mask-Mandate For Planes, Trains Unlawful

MONDAY, APR 18, 2022 – 01:32 PM

Is this the beginning of the end of biomedical tyranny in the US?

As Forbes reports, a federal judge in Florida threw out the federal government’s mask mandate for airports, airplanes and other public transportation Monday, ruling the Centers for Disease Control and Prevention exceeded its authority by imposing the mask requirement days after the agency extended it another two weeks.

U.S. District Judge Kathryn Kimball Mizelle, who was appointed by former President Donald Trump, issued a ruling that declared the mask mandate unlawful and blocked it by vacating the order and sending it back to the CDC “for further proceedings.”

And before the blue-checks erupt in uproar at this ‘dangerous’ act by a clearly biased Trump judge, there is nothing stopping you from continuing to wear you three masks…this ruling just means the rest of us are not mandated to do just to protect your feelings.

Just this morning, Delta CEO Ed Bastian told WaPo that:

“I think lifting the mask mandate will be one step towards reestablishing and normal behavioral patterns on board the aircraft as well as in the airports.”

*  *  *

iv)swamp stories

Durham: Five Witnesses Connected To The Clinton Campaign’s False Russian Claims Have Refused To Cooperate

MONDAY, APR 18, 2022 – 01:01 PM

Authored by Jonathan Turley,

Special Counsel John Durham continues to drop bombshells in filings in the prosecution of former Clinton campaign lawyer Michael Sussmann. Just last week, Durham defeated an effort by Sussmann to dismiss the charges.  He is now moving to give immunity to a key witness while revealing that the claims made by the Clinton campaign were viewed by the CIA as “not technically plausible” and “user created.” He also revealed that at least five of the former Clinton campaign contractors/researchers have invoked the Fifth Amendment and refused to cooperate in fear that they might incriminate themselves in criminal conduct. Finally, Durham offers further details on the involvement of Clinton campaign general counsel Marc Elias and former British spy Christopher Steele in the alleged false claims.

Recently, Durham revealed extremely damaging evidence against Sussmann. However, this is the first full description of the Clinton associates refusing to cooperate under the Fifth Amendment. Durham noted that he gave immunity to an individual identified only as “Research 2.” He then noted that this was made necessary by the refusal to cooperate by key Clinton associates:

“The only witness currently immunized by the government, Researcher-2, was conferred with that status on July 28, 2021 – over a month prior to the defendant’s Indictment in this matter. And the Government immunized Researcher-2 because, among other reasons, at least five other witnesses who conducted work relating to the Russian Bank-1 allegations invoked (or indicated their intent to invoke) their right against self-incrimination. The Government therefore pursued Researcher-2’s immunity in order to uncover otherwise-unavailable facts underlying the opposition research project that Tech Executive-1 and others carried out in advance of the defendant’s meeting with the FBI.”

[Emphasis added] 

For his part, Sussmann and the Clinton associates have sought to use attorney-client privilege to keep evidence from Durham.

Durham also detailed how the false Russian collusion claims related to Alfa Bank involved Clinton General Counsel Marc Elias and Christopher Steele. Indeed, the new requested immunized testimony would come from a Tech executive who allegedly can share information on meetings with Elias and Steele.

The Alfa Bank hoax and Sussmann’s efforts paralleled the work of his partner Elias at the law firm Perkins Coie in pushing the Steele Dossier in a separate debunked collusion claim.  The Federal Election Commission recently fined the Clinton Campaign and the DNC for hiding the funding of the dossier as a legal cost by Elias at Perkins Coie.

“Durham notes that both the CIA and FBI were sent on an effective wild goose chase by the Clinton campaign. He notes that the government found the allegations to be manufactured and not even technically possible.  He refers to the CIA in the following passage:

Agency-2 concluded in early 2017 that the Russian Bank-1 data and Russian Phone Provider-1 data was not “technically plausible,” did not “withstand technical scrutiny,” “contained gaps,” “conflicted with [itself],” and was “user created and not machine/tool generated.”

This dovetails with the statements of the Clinton associates themselves who were worried about the lack of support for the Russian collusion claims.  “Researcher 1” features prominently in those exchanges.

According to Durham, the Alfa Bank allegation fell apart even before Sussmann delivered it to the FBI. The indictment details how an unnamed “tech executive” allegedly used his authority at multiple internet companies to help develop the ridiculous claim. (The executive reportedly later claimed that he was promised a top cyber security job in the Clinton administration). Notably, there were many who expressed misgivings not only within the companies working on the secret project but also among unnamed “university researchers” who repeatedly said the argument was bogus.

The researchers were told they should not be looking for proof but just enough to “give the base of a very useful narrative.” The researchers argued, according to the indictment, that anyone familiar with analyzing internet traffic “would poke several holes” in that narrative, noting that what they saw likely “was not a secret communications channel with Russian Bank-1, but ‘a red herring,’” according to the indictment.

“Researcher-1” repeated these doubts, the indictment says, and asked, “How do we plan to defend against the criticism that this is not spoofed traffic we are observing? There is no answer to that. Let’s assume again that they are not smart enough to refute our ‘best case scenario.’ You do realize that we will have to expose every trick we have in our bag to even make a very weak association.”

“Researcher-1” allegedly further warned, “We cannot technically make any claims that would fly public scrutiny. The only thing that drives us at this point is that we just do not like [Trump]. This will not fly in eyes of public scrutiny. Folks, I am afraid we have tunnel vision. Time to regroup?”

It appears that the “time to regroup” has passed with the issuance of immunity deals to compel testimony.

Here is the filing: US-v-Sussmann-04162022-US-Filing

Damning Evidence Emerges After U.S. Firm With Ties To WEF, DOD Implicated In Ukraine Bioweapons Cover-Up – enVolve

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Robert Hryniak12:50 PM (38 minutes ago)
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Cheers
Robert

The King Report (including swamp stories)

China’s oil champion prepares Western retreat over sanctions fear (Over Russia or Taiwan attack?)
China’s top offshore oil and gas producer CNOOC Ltd. is preparing to exit its operations in Britain, Canada and the United States, because of concerns in Beijing the assets could become subject to Western sanctions…  https://www.reuters.com/business/energy/exclusive-chinas-oil-champion-prepares-western-retreat-over-sanctions-fear-2022-04-13/
 
China Promises to Cut RRR When Needed to Boost Economy  https://t.co/WRBvYgPb3A
 
Xi Says China Must Stick to Covid Zero (tolerance) Even as Costs Mount 
“Prevention and control work cannot be relaxed,” Xi said…Residents short of groceries, medical care and patience have been making a rare display of pushback as they’ve been barred from leaving their homes…  https://t.co/8vpqwDWagR
 
US March Retail Sales: +0.5% m/m, 0.6% expected; ex-Gasoline Station Sales -0.3% m/m; ex-Autos & Gas 0.2%.  February was revised to 0.8% from 0.3%; Feb ex-Autos & Gas revised to -0.1% from -0.4%.  Gasoline sales jumped 8.9% m/m, and soared 37% y/y.
 
Higher gasoline prices flatter U.S. retail sales http://reut.rs/37RrzZ6
 
University of Michigan: Surveys of Consumers – April Preliminary
Consumer Sentiment jumped by a surprising 10.6% in early April, although it remained below January’s reading and lower than in any prior month in the past decade. Nearly the entire gain was in the Expectations Index, which posted a monthly gain of 18.0%, including a leap of 29.4% in the year-ahead outlook for the economy and a 17.2% jump in personal financial expectations. A strong labor market bolstered wage expectations among consumers under age 45 to 5.3%-the largest expected gain in more than three decades, since April 1990…  https://t.co/8vpqwDWagR
 
No other survey shows consumer confidence in the economy jumping.  If this were true, Biden’s rating would rise commensurately.

US bonds and notes plunged on Thursday.  The 30-year yield hit 2.92%, and the 10-year ticked 2.83%.  Was the bond debacle on Thursday, a delayed reaction to the awful March PPI on Wednesday?  Did someone force bonds higher after the PPI to change the narrative for the day?
 
@charliebilello: At -27%, this is now the largest drawdown ever for the 20+ Year Treasury bond ETF.
    Fed Fund Futures are now pricing in a >90% probability of a 50 bps hike in May (to 0.75-1.00%) and a >90% probability of a 50 bps hike in June (to 1.50-1.75%).
 
@RudyHavenstein Feb 9, 2022: Pimco Intern Ben Bernanke in December 2010:  “We will not allow inflation to rise above 2% or less…We could raise interest rates in 15 minutes if we had to.”
https://twitter.com/RudyHavenstein/status/1491508399619534848   BB: “There really is no problem with raising rates, tightening monetary policy, slowing the economy, reducing inflation, at the appropriate time.”  – Citadel Intern Ben Bernanke & Fed Publicist Scott Pelley, December 2010
 
The fin media teems with articles in which ‘experts’ and Fed officials claim inflation has peaked.
 
Jim Cramer says the market is signaling that commodity inflation is ‘pretty much over’ 6/17/21
https://www.cnbc.com/2021/06/17/cramer-market-is-signaling-commodity-inflation-is-pretty-much-over.html
 
Listen to Kamala’s Answer When Asked What Admin is Doing to Combat Inflation
“I acknowledge one must acknowledge that prices are going up and that people are working hard and, in many cases, are worried about whether they can get through the end of the month and make it all work,” Harris said.  “What I can say is that people deserve to know that their president, that our administration, is concerned enough to do something about it, so that is what we are doing,” she added…
https://conservativebrief.com/listen-61982/?utm_source=CB&utm_medium=DJD
 
Elon Musk offers to buy Twitter for $43 billion, so it can be ‘transformed as private company’
“I invested in Twitter as I believe in its potential to be the platform for free speech… a societal imperative for a functioning democracy,” Musk wrote… to Twitter Chairman Bret Taylor…
https://www.cnbc.com/2022/04/14/elon-musk-offers-to-buy-twitter-for-54point20-a-share-saying-it-needs-to-be-transformed-as-private-company.html
 
Elon Musk letter to the board of Twitter https://t.co/4iHnH9Y1SR
 
Biden Regime Launches Investigation into Elon Musk’s Tesla Corporation as He Moves to Buy Twitter https://t.co/F5sHFXMoJP
 
@zerohedge: Well this is awkward: TWTR board hired Goldman to “advise” it that the @elonmusk $54.20 offer is too low. Only problem: Goldman has a SELL rating with a $30 price target. Oops.
https://twitter.com/zerohedge/status/1514612329031233547
 
Goldman Sachs… said $54.20 was too low to be taken seriously, yet Goldman currently has a SELL rating on TWTR with a price target of just $30 per share…
https://www.unseenopp.com/goldman-advisors-say-no-deal-to-musks-twitter-bid/
 
Saudi Prince (US Establishment ally) @Alwaleed_Talal: I don’t believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects.  Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer.
 
@zerohedge: Dear @Alwaleed_Talal this may come as a shock to you, but you sold all your Twitter shares in 2019, not long after you were put under Ritz Carlton hotel arrest. cc: @elonmusk
https://twitter.com/zerohedge/status/1514747126210863108/photo/1
 
@elonmusk: Replying to @Alwaleed_Talal @Twitter and @Kingdom_KHC: Interesting. Just two questions, if I may. How much of Twitter does the Kingdom own, directly & indirectly? What are the Kingdom’s views on journalistic freedom of speech?
 
WSJ: Twitter weighs poison pill to prevent Elon Musk from increasing stake significantly…
WSJ: Musk Has Heard from Outside Investors Interested in Providing Equity for $43B Bid…
 
Musk Interview on TED Highlights
Not sure I’ll actually be able to buy Twitter. Aim is to retain as many shareholders as is legal
If Twitter doesn’t accept his offer, there is a plan B
On funding for Twitter deal: “I have sufficient assets; I can do it if possible.”
If Twitter doesn’t accept offer, they’re not working in the best of interest of their shareholders or society
Twitter should open source the algorithm so there is no manipulation
The truth matters to me pathologically.”
Twitter should match the laws of the country, and in my view there’s an obligation to do that. Going beyond that… tweets mysteriously promoted and demoted… this can be quite dangerous.”
“A good sign as to whether there is free speech: is someone you don’t like allowed to say something you don’t like? If that is the case, then we have free speech.”
“My strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization.  I don’t care about the economics at all.”
 
@elonmusk on Thursday evening: If the current Twitter board takes actions contrary to shareholder interests, they would be breaching their fiduciary duty. The liability they would thereby assume would be titanic in scale.
 
@JohnBasham: Warren Buffett Says @elonmusk Has Got An “Idea” & Is “Winning…That’s America,”
In A New Interview With @charlierose
 
@ClayTravis: All the blue checks who have lectured us for years by saying, “It’s a private company, if you don’t like it, leave” are panicking like crazy over their echo chambers being challenged. Love. It…
 
Twitter leftists lose it after Elon Musk offers to buy the social media giant: ‘I am frightened’
https://www.foxnews.com/media/twitter-leftists-elon-musk-social-media-giant-frightened
 
Elon Musk’s “Threat” to Restore Free Speech on Twitter Provokes Liberal Panic and Hysteria
https://t.co/YcWANESwKO
 
@a_centrism: 98.7% of Twitter employee donations to political candidates in the 2018 mid-term elections were to the Democratic Partyhttps://t.co/7gG9zM1Oby
 
Fauci’s Daughter is a Software Engineer at Twitter, A Company Which Suspends People for Disagreeing with Her Father. 3/3/21  https://thenationalpulse.com/2021/03/03/alison-fauci-twitter-engineer/
 
Babylon Bee: Twitter Workers Worried Elon Musk Will Turn Their Free Speech Platform into Platform That Allows Free Speech https://t.co/vCx2Vwbe6M
 
@megbasham: Remember that none of these guys were upset when Jeff Bezos bought the Washington Post or when Laurene Powell Jobs bought The Atlantic.
 
Marc Andreessen @pmarca: The future of democracy rests on the many pro-censorship media billionaires crushing the one anti-censorship media billionaire.  Imagine the threat to freedom and democracy if people can just say what they think.
 
Twitter adopts ‘poison pill’ to prevent Elon Musk takeover (Let the shareholder lawsuits begin!)
The limited duration shareholder rights plan will expire on April 14, 2023
https://www.foxbusiness.com/markets/twitter-poison-pill-elon-musk
 
Twitter Board of Directors:  https://investor.twitterinc.com/corporate-governance/board-of-directors/default.aspx
 
Ex-Jack Dorsey, the other 11 Directors collectively own only 77 shares of Twitter!  (Lawsuits coming!)
https://twitter.com/ChrisJBakke/status/1515377028295389186/photo/1
 
Ex-DNI @RichardGrenell: @twitter has a board member named Dr. Fei-Fei Li, a Chinese Communist Party-Linked official as an ‘Independent Advisor’.   https://t.co/oluQzxfpgv
 
@PatrickRuffini: Musk owning Twitter (#17 platform) is bad but China owning TikTok (#7) is good.
 
NY Post: Elon Musk considering bringing in partners on Twitter bid, sources say
 
Turley: Twitter faces the ‘nightmare’ of being forced into free speech
Another problem is that Twitter long sought a private buyer under former CEO Jack Dorsey. If Musk increases his bid closer to $60, the board could face liability in putting its interests ahead of the company’s shareholders….
https://thehill.com/opinion/technology/3270514-twitter-faces-the-nightmare-of-being-forced-into-free-speech/
 
Turley: Twitter Suspends LibsofTikTok for Featuring Liberals Talking About Themselves?
Twitter has continued its ever-widening censorship of social media this week with the suspension of the popular site, The @LibsofTikTok…Twitter suspended the site for “hateful conduct.”…
    However, the site highlights liberals speaking about themselves and their values in their own voices. There is no explanation, which is common for the company. It simply suspended the site and told it to reform itself…The action seems consistent with the chillingly anti-free speech agenda of Twitter CEO Parag Agrawal… https://jonathanturley.org/2022/04/15/twitter-suspends-libsoftiktok-for-featuring-liberals-talking-about-themselves/
 
@ggreenwald: Yesterday was a flagship day in corporate media. It was the day they were forced to explicitly state what has long been clear: they not only favor censorship but desperately crave and depend on it.  Even if Musk doesn’t buy Twitter, never forget what yesterday revealed…
   In US culture, we’re inculcated from childhood that censorship is bad. So of course nobody — especially journalists — wants to say: “I favor censorship.” That’s why they need euphemisms like “content moderation”: to pretend it’s about bots, abuse, etc. rather than ideology
    On Google/YouTube, Facebook and Twitter, you are free to say the 2000 and 2016 elections were stolen and fraudulent. You can’t say that about 2020…
 
Farmer suspended from TikTok after vegans reported him for noting that you need cow manure to grow vegetables  https://t.co/siZJa4m2Qx

Two Russian villages bordering Ukraine evacuated, shelling came from ‘Ukrainian side’: regional governor https://t.co/s8JsL1A92t
 
Putin’s defence minister Sergei Shoigu has had ‘massive heart attack’ and allegedly not from natural causes  https://t.co/6Roya0Yhkg

CBS: McKinsey consulted on opioids for the FDA — and also with opioid makers, report claims
https://www.cbsnews.com/news/mckinsey-opioids-fda-purdue-pharma-jeff-smith/
 
@ClayTravis: The CDC has extended the airplane mask mandate an additional two weeks because being on airplanes without a mask isn’t safe due to covid. Simultaneously the same CDC has opened up our Southern border and ended Title 42 because they say covid is no longer a threat.
 
Fox’s @ChadPergram: Dem AZ Sen Sinema on CDC extending mask mandate for travel: The Administration’s extension of public health emergency authorities proves the need to delay lifting Title 42 to protect the health and safety of Arizona communities and migrants.  Sinema:  I’ll keep pushing for transparency and accountability from the Administration to help secure the border, keep Arizona communities safe, and ensure migrants are treated fairly and humanely.
 
@RNCResearch: Biden: “For four years, I was a full professor at the University of Pennsylvania.”
FACT: Biden was paid $1 million, but never taught a single class. https://t.co/tEUutgQjes
    Biden SNAPS at a woman for interrupting him, then calls himself “Professor Biden from Penn.”
Biden never taught a single class at Pennhttps://t.co/xs8JOTBQfn
 
@RNCResearch: BIDEN: “We cut down all our forests.”  https://twitter.com/RNCResearch/status/1514688797665021954
 
@ElAmerican_: Going viral now: President @JoeBiden finishes speech & gives what appears to be a handshake to thin air. Looks confused afterwards.  https://twitter.com/ElAmerican_/status/1514713217838333952
   Ex-DNI @RichardGrenell: The world sees this weakness.
 
@greg_price11: Biden says that when his Mom would drive him to school as a kid, there would be an oil slick on the car windshield: “That wouldn’t happen where I live now, in a nice neighborhood.” (AKA The White House) https://t.co/Oz384V6QRV
 
@greg_price11: Biden: “If I took you into O’Hare airport blindfolded in the middle of the night, and took you into one of China’s airports blind folded in the middle of the night and said ‘are you in China or America?’ you’d probably think the Chinese airport is ours…” https://twitter.com/greg_price11/status/1514687165313302536
 
@RNCResearch: CNN reports that Biden’s approval rating is the lowest of any president at this point in his presidency:  “This is a really, really, really bad number.” https://twitter.com/RNCResearch/status/1514981678783123460
 
Fed Balance Sheet: +$27.895B on MBS +24.830B.  The Fed is full of Schiff!
https://www.federalreserve.gov/releases/h41/20220414/
 
Ukrainian experts worry sunken Russian warship was carrying nukes https://t.co/lNy7hx9En8
 
Russian economy poised to crash as sanctions take their toll https://t.co/Nc2Cl8UInB
 
Russia warns U.S. against further arming Ukraine  https://www.cbsnews.com/news/russia-warns-us-arming-ukraine/
 
Pentagon rolls out ‘equity’ plan – Defense to equalize outcomes for employees, partners across racial, sexual and gender lines  https://www.foxnews.com/politics/pentagon-equity-plan
 
DHS launches first-ever ‘equity action plan’… removing barriers to naturalization even as illegal immigration soars  https://www.foxnews.com/politics/dhs-launches-first-ever-equity-action-plan-concerns-mount-over-termination-title-42
 
Die Welt’s @Schuldensuehner: The biggest bond bubble in 800yrs continues to deflate after rising US inflation data (CPI & PPI) shake up the bond markets. The value of global bonds has dropped by another $400bn this week, bringing total loss from ATH to $6.4tn. (Chart at link)
https://twitter.com/Schuldensuehner/status/1515733501747810311
 
Today – Instead of the usual Sunday night ESM buying for the expected Monday rally, ESMs are -29.00, and NQMs (Naz 100) are -151.75 at 21:00 ET.  Last week, Fangs and the Nasdaq 100 broke down technically, instead of the usual rallying into earnings seasons.  Astute traders recognize the deviation from normal behavior.  Also, China reported three deaths from Covid in Shanghai.  USMs are -24/32.  WTI Oil is 108.29 (2 Libyan ports closed due to protests). 
 
Expected earnings: PNC 2.77, PGR 1.23, UNH 5.35, USB .94, WFC .80, MS 1.70, GS 8.90, C 1.62
 
Expected economic data: April NAHB Housing Market Index 77
 
S&P 500 Index 50-day MA: 4418; 100-day MA: 4523; 150-day MA: 4519; 200-day MA: 4495
DJIA 50-day MA: 34,314; 100-day MA: 34,917; 150-day MA: 35,011; 200-day MA: 35,018
 
S&P 500 Index – Trender trading model and MACD for key time frames
MonthlyTrender is positive; MACD is negative – a close below 4153.02 triggers a sell signal
HourlyTrender and MACD are negative – a close above 4547.45 triggers a buy signal
Daily: Trender and MACD are negative – a close above 4529.25 triggers a buy signal
Hourly: Trender and MACD are negative – a close above 4445.07 triggers a buy signal
 
CIA Bombshell: The Sussmann data was “user created”
Also: Confirmation of a frame-job against President-Elect Trump
     Durham provided to the Court two sets of notes related to Sussmann’s representations to the CIA. The first was from Sussmann’s January 31, 2017 contacts with a CIA employee where Sussmann discussed wanting to provide to the CIA data on “the presence and activity of a unique Russian made phone around President Trump.” It was said that this secret activity started in April 2016 and continued after Trump’s “move to the White House.”… The CIA was provided with data all the way back from April 2016.  Why does April 2016 matter? Because Russia was alleged to have hacked “the Democratic Congressional Campaign Committee and DNC networks in April 2016.” Recall that “Crowdstrike was contacted on April 30, 2016 to respond to a suspected breach” of the DNC…
   The CIA reviewed the Trump/YotaPhone data (and the Alfa Bank data) in early 2017. The fact that the CIA accepted this data on President Trump is its own scandal. In any event, the CIA’s findings are significant, as they concluded that the data was not “technically plausible” and was “user created and not machine/tool generated.”… what a finding by the CIA. Of course, this only leads to more questions:
Which “user” created the data?  Does it go back to the Joffe conspiracy?  And who else is part of that conspiracy?… Durham will also be granting immunity at trial “for an individual who was employed at” Fusion GPS… Considering the personal costs to both men, are we to believe that this was only about politics? Or maybe this all leads back to the DNC hack (If no Russia hack, enormous conspiracy!)
https://technofog.substack.com/p/cia-bombshell-the-sussmann-data-was?s=w
 
Democrats fear Sen. Dianne Feinstein no longer mentally fit for Congress: report https://trib.al/jbcCfc8
 
Smoking guns: Joe Biden referred business and mingled finances with son Hunter, messages show
Joe Biden asked son Hunter about “future earnings potential” in messages that conflict with Democrats’ earlier portrayals of first family’s financial affairs.
https://justthenews.com/accountability/russia-and-ukraine-scandals/contrary-earlier-portrayals-joe-biden-referred-business
 
Memos gathered by FBI show pattern of Hunter Biden mixing business affairs with hunger charity
Charitable discussions with Chinese energy giant CEFC that evolved into lucrative business deals fit classic foreign influence operation, ex-FBI intel chief says…
https://justthenews.com/accountability/political-ethics/memos-gathered-fbi-show-pattern-hunter-biden-mixing-business
 
Mobster Whitey Bulger’s nephew played role in Hunter Biden’s Chinese business ventures: emails https://t.co/EpUOaXlgcu
 
RNC unanimously decides to withdraw from Commission on Presidential Debates
https://justthenews.com/politics-policy/elections/rnc-unanimously-decides-withdraw-commission-presidential-debates
 
Educators say over half of low-income students struggling with mental health issues
https://www.dispatch.com/story/news/education/2022/04/11/mental-health-crisis-children-many-low-income-students-struggle/9487024002/
 
ABC: Children as young as 8 years old should be screened for anxiety, the country’s leading panel of experts on health prevention recommend for the first time. https://t.co/1NMf9HfOdS
 
How a youth mental health crisis is crushing working parents
The mental burden of parenthood — which refers to the unseen work needed to keep children going and a household running — is immense. Research has shown that mothers tend to carry a particularly heavy burden…  https://ebuties.com/how-a-youth-mental-health-crisis-is-crushing-working-parents/
 
Amid the nation’s mental health crisis, we need more psychiatrists now
https://www.statnews.com/2022/04/12/health-care-needs-new-ways-to-create-more-psychiatrists-and-other-physicians/
 
Better, and at the least, adequate mental healthcare would help diminish many social issues: crime, homelessness, drug addiction, teenage maladies, domestic violence, sexual and child abuse, etc.
 
NYC Mayor Blasts BLM Silence Over Crime Spree: “I Thought Black Lives Mattered?”
Hey, I thought black lives matter. Where are all those who stated, ‘black lives matter?’”… “The victims were Black. Many of the shooters were Black.”…
https://www.zerohedge.com/political/nyc-mayor-blasts-blm-silence-over-crime-spree-i-thought-black-lives-mattered
 
Maybe the law ain’t perfect, but it’s the only one we got, and without it, we got nuthin.” — Bass Reeves.
 
Bass Reeves – Black Hero Marshal
Born to slave parents in 1838 in Crawford County, Arkansas, Bass Reeves would become the first black U.S. Deputy Marshal west of the Mississippi River and one of the greatest frontier heroes in our nation’s history… Over the 35 years that Bass Reeves served as a Deputy United States Marshal, he earned his place in history by being one of the most effective lawmen in Indian Territory, bringing in more than 3,000 outlaws and helping to tame the lawless territory…
    There is evidence that Bass Reeves was the basis of the now-classic radio and later television series “The Lone Ranger,”…  https://www.legendsofamerica.com/we-bassreeves/
 
@MaxAbrahms: And like that the Brooklyn subway attack has been memory-holed. This was an actual attack that disappeared from headlines almost instantly whereas the Michigan governor kidnapping plot was a made-up attack that dominated the news for weeks.
 
People Are Calling Elon Musk an ‘African American Immigrant’ and The Internet Is Divided
Elon Musk is a South-African immigrant turned American…
https://www.unilad.co.uk/news/people-divided-after-elon-musk-called-african-american-immigrant-20220406
 
@Rasmussen_Poll: All “counted ballots” in Maricopa County are printed on 80lb Vote Secure ballot paper stock. Except they weren’t. 10 different types/weights of paper were found by the voter volunteers who examined the 2.1M ballots. The American Faces Behind The Audit
https://rumble.com/vn4kgx-the-american-faces-behind-the-audit.html
 
Man Who Discovered Ballot Trafficking Operation In Yuma County Handed Evidence To Attorney General Brnovich BEFORE 2020 General Election: “They Could Have Stopped This.” https://t.co/pMc51tCfEY
 
Biden, first lady report making over $600,000 in 2021 tax filing
An effective federal income tax rate of 24.6%.  The Bidens also donated roughly 2.8% of their income, or $17,384, to charities, including $5,000 to the Beau Biden Foundation
    Vice President Kamala Harris and her husband, Doug Emhoff, reported federal adjusted gross income of $1,655,563, the White House said, paying $523,371 in federal income tax for an effective federal income tax rate of 31.6%… They contributed roughly 1.3% of their income, or $22,100, to charity
https://www.reuters.com/world/us/bidens-report-610702-income-2021-us-tax-filing-2022-04-15/
 
Authorities in Pennsylvania are searching for a missing portable nuclear device containing radioactive material that was stored inside a vehicle reported stolenhttps://t.co/qr7AKFaa7m
 
South Carolina mall shooting suspect’s bond set at $25,000, can go to work with ankle monitor
Jewayne Price was charged with unlawful carrying of a pistol
https://www.foxnews.com/us/south-carolina-mall-shooting-suspects-bond-set-at-25000-can-go-to-work-with-ankle-monitor

Let us close today with this offering courtesy of Greg Hunter with his message  on April 15

and then his interview of Catherine Austin Fitts

Lies Don’t Last, Woke Broke, Inflation Spiral

By Greg Hunter On April 15, 2022 In Weekly News Wrap-Ups10 Comments

By Greg Hunter’s USAWatchdog.com (WNW 524 4.15.22)

Christianity has lasted more than 2,000 years because Jesus spoke the truth.  The Bible is based on the truth, and the truth lasts for eternity.  On the other hand, lies don’t last.  We are seeing the lies being exposed in politics, finance, medicine, media and the military.  When lies are being revealed, it can lead to chaos and calamity as evil fights to keep the truth hidden, but it can’t.  Every problem we are seeing today has a lie behind it, and the revealing of the lies is going to be painful.

The business world has a saying and that is “get woke and go broke.”  Meaning wokeness leads to irrational and illogical decisions that cost money in the real world.   Like Twitter taking off President Donald Trump off its platform in January 2021 when he had 88 million followers!!  Stupid woke move.  Hope Musk takes over Twitter.  Look at the airlines struggling to get staff to conduct air travel after forcing the vaccination of much of their employees.  Thousands of flights have been cancelled over the past several months because of staffing issues not the weather.  You are seeing the “true cost of wokeness” hitting home at the gas pump and in shortages.  The Woke culture is failing.  The only question is how far will our world fall before it is stopped?

Some are saying that inflation has peaked, and it’s going down from here.  That is wishful thinking as long as war is being pushed in Ukraine and Russia.  Sanctions are getting more intense, and prices are going up with them.  On top of that, the woke green revolution is causing energy shortages, and the Biden Administration has war on fossil fuels.  Expect the inflation spiral to keep increasing, and you simply cannot blame everything on Russia.

Join Greg Hunter of USAWatchdog.com as he talks about these stories and more in the Weekly News Wrap-Up for 4.15.22.

end

We Are at War Right Now – Catherine Austin Fitts

By Greg Hunter On April 16, 2022 In Political Analysis91 Comments

By Greg Hunter’s USAWatchdog.com (Saturday Night Post)

Catherine Austin Fitts (CAF), Publisher of The Solari Report and former Assistant Secretary of Housing (Bush 41 Admin.), says, “We are at war right now, and they are trying to kill us.”

Fitts is not talking about war with the Russians, but satanic Deep State globalists who are spraying us, injecting us and, at the very least, bankrupting us.  CAF explains, “We are in a war. . . . What this is about is the ‘Great Poisoning’ with spraying aluminum overhead, nano particles in the food, they are trying to feed us insects and synthetic food and inject us with secret ingredients. What about this is not obvious? . . . Stop worrying about the collapse is going to come or the war is coming.  It’s here, you are in it.  This is what it feels like, and I am not saying it cannot get worse, but this is now.”

What about sky high inflation coming?  CAF’s analysis considers increasing all-death mortality from the vax and other poisons “We the People” are being exposed to.  This is going to have a big effect on inflation in the coming years, and it’s not what you think.  Fitts explains, “I am going to be a really bad guy.  We have serious inflation baked into the cake through the monetary policies, but you have to consider accelerated deaths from the ‘Great Poisoning.’  Those deaths are very deflationary.  This will force a great deal of capital to the next generation.  Depending on deflation from the deaths, that offsets inflation tremendously.  It’s already offset it tremendously. . . . I think what we are looking at is much bigger than just the injections.  I think the ’Great Poisoning’ is a much more complex, long-lived process, and that’s what’s going to hit.”

CAF dives deep on how you can fight back and survive the evil being done to “We the People.”  Think local everything.  CAF identifies who is doing evil to us and how we can cut off the money financing this evil.  She also tells who the most important elected official is in every county in America and why you need to care who gets elected into this position.”

CAF says you must be knowledgeable and up to date about what is happening.  In closing, CAF says, “I used to have a pastor that said if we can face it, God can fix it.  I think reality is the doorway we have to walk through to find the pathway. . . , One of the reasons it has gotten as bad as it has gotten is many of us pretended it was not going on.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with the Publisher of The Solari Report, Catherine Austin Fitts. (4.16.22)

(To Donate to USAWatchdog.com Click Here)

After the Interview:

See you on TUESDAY

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