April 26, 2022 · by harveyorgan · in Uncategorized · Leave a comment·Edit
April 26, 2022 · by harveyorgan · in Uncategorized · Leave a comment·Edit
april26, 2022 · by harveyorgan · in Uncategorized · Leave a comment·Edit
GOLD; $1903.20 UP $7.10
SILVER: $23.43 DOWN $0.13
ACCESS MARKET: GOLD $1906.35
SILVER: $23.47
Bitcoin morning price: $40,540 UP 452
Bitcoin: afternoon price: $38,388 DOWN 1700
Platinum price: closing UP $7.49 to $925.65
Palladium price; closing UP $33.90 at $2180.20
END
sorry//not feeling well today..i was out most of the day so the reports are not detailed
tomorrow i will be in the hospital so again the reports will not be detailed
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comex notices/
: JPMorgan stopped/total issued 718/861
EXCHANGE: COMEX
CONTRACT: APRIL 2022 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,893.200000000 USD
INTENT DATE: 04/25/2022 DELIVERY DATE: 04/27/2022
FIRM ORG FIRM NAME ISSUED STOPPED
072 C GOLDMAN 8
118 C MACQUARIE FUT 99
132 C SG AMERICAS 54
363 H WELLS FARGO SEC 7
435 H SCOTIA CAPITAL 7
624 H BOFA SECURITIES 11
657 C MORGAN STANLEY 15
661 C JP MORGAN 183 718
685 C RJ OBRIEN 1
709 C BARCLAYS 27
732 C RBC CAP MARKETS 6
800 C MAREX SPEC 1
880 H CITIGROUP 579
905 C ADM 6
TOTAL: 861 861
MONTH TO DATE: 26,629
NUMBER OF NOTICES FILED TODAY FOR APRIL. CONTRACT 861 NOTICE(S) FOR 86,100 OZ (2.6787 TONNES)
total notices so far: 26,629 contracts for 2,662.900 oz (82.827 tonnes)
SILVER NOTICES:
14 NOTICE(S) FILED 70,000 OZ/
total number of notices filed so far this month 1357 : for 6,785,000 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 $7.60
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//
HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A WITHDRAWAL OF 2.9 TONNES FORM THE GLD/
INVENTORY RESTS AT 1101.23 TONNES
Silver//SLV
WITH NO SILVER AROUND AND SILVER DOWN 13 CENTS
AT THE SLV// A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: NO CHANGES MIL AT THE SLV//
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV
CLOSING INVENTORY: 579.418 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A GIGANTIC SIZED 5162 CONTRACTS TO 150,312 AND FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020 AND THE STRONG LOSS IN OI WAS ACCOMPLISHED WITH OUR STRONG $0.69 LOSS IN SILVER PRICING AT THE COMEX ON FRIDAY. OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.69) AND WERE SUCCESSFUL IN KNOCKING OUT SOME SILVER LONGS AS WE HAD A STRONG LOSS OF 1540 CONTRACTS ON OUR TWO EXCHANGES. SOME OF THE LOSS WAS DUE TO CONTINUAL SPREADER LIQUIDATION//TAS IN SILVER TODAY.
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 HUGE 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 30,000 OZ//NEW STANDING: 6.790,000 MILLION OZ// V) STRONG SIZED COMEX OI LOSS/(SOME OF THE LOSS DUE TO SPREADERS)
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL:
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI SILVER TODAY: CONTRACTS : —-602
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 17 days, total 19,951 contracts: 99.755 million oz OR 5.87 MILLION OZ PER DAY. (1174 CONTRACTS PER DAY)
TOTAL NO OF OZ UNDERGOING EFP TO LONDON 19,951 CONTRACTS X 5,000 PER CONTRACT:
EQUATES TO: 99.755 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: 99.755 MILLION OZ (LOOKS LIKE OUR BANKERS ARE NOW LOATHE TO ISSUE EFP’S)
RESULT: WE HAD A GIGANTIC SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 5162 WITH OUR STRONG $0.69 LOSS IN SILVER PRICING AT THE COMEX// MONDAY. WITH SOME OF THE LOSS DUE TO SILVER SPREADER LIQUIDATION TODAY. THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE CONTRACTS: 3020 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 30,000 OZ QUEUE JUMP//NEW STANDING: 6.790MILLION OZ/// .. WE HAD A STRONG SIZED LOSS OF 2142 OI CONTRACTS ON THE TWO EXCHANGES FOR 10.71 MILLION OZ WITH THE STRONG LOSS IN PRICE.
WE HAD 14 NOTICES FILED TODAY FOR 70,000 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 HUGE SIZED 11,274 CONTRACTS TO 556,876 AND FURTHER FROM 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: -2 CONTRACTS.
THE BIS HAS ABANDONED THE GOLD COMEX TRADING!!!
.
THE HUGE SIZED DECREASE IN COMEX OI CAME WITH OUR LOSS IN PRICE OF $36.80//COMEX GOLD TRADING/MONDAY /.AS IN SILVER WE MUST HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR FAIR SIZED EXCHANGE FOR PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION
WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR APRIL AT 78.33 TONNES ON FIRST DAY NOTICE //FOLLOWED BY TODAY’S QUEUE JUMP OF 66,600 OZ//NEW STANDING 84.055 TONNES
YET ALL OF..THIS HAPPENED WITH OUR LOSS IN PRICE OF $36.80 WITH RESPECT TO MONDAY’S TRADING
WE HAD A STRONG SIZED LOSS OF 6139 OI CONTRACTS (19.101 PAPER TONNES) ON OUR TWO EXCHANGES..
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 5135 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 556,876.
IN ESSENCE WE HAVE A STRONG SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 6139, WITH 11,274 CONTRACTS DECREASED AT THE COMEX AND 5135 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 6139 CONTRACTS OR 19.101 TONNES.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A GOOD SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5135) ACCOMPANYING THE HUGE SIZED LOSS IN COMEX OI (11,276,): TOTAL LOSS IN THE TWO EXCHANGES 6141 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 66,600 OZ QUEUE JUMP //NEW STANDING 84.055 TONNES/// 3) CONSIDERABLE LONG LIQUIDATION //.,4) GIGANTIC SIZED COMEX OI. LOSS 5) GOOD 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 :
41,683 CONTRACTS OR 4,168,300 OR 129.65 TONNES 17 TRADING DAY(S) AND THUS AVERAGING: 2451 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 17 TRADING DAY(S) IN TONNES: 129.65 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2020, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 129.65/3550 x 100% TONNES 3.66% 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: 129.65 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, FELL BY A GIGANTIC SIZED 5162 CONTRACT OI AND FURTHER FROM OUR COMEX RECORD //244,710(SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 5 YEARS AGO.
EFP ISSUANCE 3020 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MAY 3020 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 LOSS OF 5162 CONTRACTS AND ADD TO THE 3020 OI TRANSFERRED TO LONDON THROUGH EFP’S,
WE OBTAIN A STRONG SIZED LOSS OF 2142 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES.
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 7.700 MILLION OZ
OCCURRED WITH OUR LOSS IN PRICE OF $0.69 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
end
5. Other gold commentaries
.
end
6. Commodity commentaries/cryptocurrencies
3. ASIAN AFFAIRS
i)TUESDAY MORNING// MONDAY NIGHT
SHANGHAI CLOSED DOWN 42.09 PTS OR 1.44% //Hang Sang CLOSED UP 65.69 OR 0.94% /The Nikkei closed UP 109.33 PTS OR 0.41% //Australia’s all ordinaires CLOSED DOWN 2.11% /Chinese yuan (ONSHORE) closed UP 6.5389 /Oil UP TO 98.76 dollars per barrel for WTI and DOWN TO 103.04 for Brent. Stocks in Europe OPENED ALL GREEN // ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.5789 OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.5669: /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 GIGANTIC SIZED 11,274 CONTRACTS TO 556,876 AND FURTHER FROM THE RECORD THAT WAS SET IN JANUARY/2020: {799,541 OI(SET JAN 16/2020)} AND PREVIOUS TO THAT: 797,110 (SET JAN 7/2020). AND THIS COMEX INCREASE OCCURRED DESPITE OUR STRONG LOSS OF $36.80 IN GOLD PRICING MONDAY’S COMEX TRADING. WE ALSO HAD A FAIR SIZED EFP (2844 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 STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS 5135 EFP CONTRACTS WERE ISSUED: ;: , . 0 JUNE :5135 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 5135 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 STRONG SIZED TOTAL OF 6141 CONTRACTS IN THAT 5135 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A GIGANTIC SIZED COMEX OI LOSS OF 11,276 CONTRACTS..AND THIS LOSS OCCURRED DESPITE OUR HUGE LOSS IN PRICE OF GOLD $36.80.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR APRIL (84.055),
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: 84.055
THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE //// (IT FELL $36.80) AND WERE UNSUCCESSFUL IN FLEECING QUITE A FEW LONGS AS WE HAVE REGISTERED A STRONG SIZED LOSS OF 19.101 TONNES ON TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR APRIL (84.055 TONNES)…
WE HAD —3 CONTRACTS REMOVED FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT
NET LOSS ON THE TWO EXCHANGES 6139 CONTRACTS OR 613,900 OZ OR 19.101TONNES
Estimated gold volume today: 95,700/// very poor
Confirmed volume yesterday:255,512contracts fair/raid
INITIAL STANDINGS FOR APRIL ’22 COMEX GOLD //APRIL 26
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil oz |
| Withdrawals from Customer Inventory in oz | 643.02 ozInt Delaware 6 kilobars |
| Deposit to the Dealer Inventory in oz | nil OZ |
| Deposits to the Customer Inventory, in oz | nil |
| No of oz served (contracts) today | 861 notice(s) 86,100 OZ 2.6787 TONNES |
| No of oz to be served (notices) | 395 contracts 39,500 oz 1.2286 TONNES |
| Total monthly oz gold served (contracts) so far this month | 26,629 notices 2,662,900 OZ 82.827 TONNES |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month | xxx oz |
For today:
dealer deposits 0
total dealer deposit 0 oz//
No dealer withdrawals
1 customer withdrawals
i) out of Int Delaware 643.02 oz (6 kilobars)
total customer withdrawals 643.02 oz
0 customer deposits
total customer withdrawal: 237,407.564 oz /
ADJUSTMENTS: zero
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR APRIL.
For the front month of APRIL we have an oi of1256 contracts having GAINED 629 contracts
We had 37 notices filed yesterday so we GAINED A WHOPPING 666 contracts or an additional 66,600 oz will stand for delivery at the comex ,
May saw a LOSS of 607contracts to stand at 2536
June saw a LOSS of 13,264 contracts DOWN to 445,824 contracts
We had 861 notice(s) filed today for 86,100 oz FOR THE APRIL 2022 CONTRACT MONTH.
Today, 0 notice(s) were issued from J.P.Morgan dealer account and 183 notices were issued from their client or customer account. The total of all issuance by all participants equate to 861 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 718 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 8 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 (26,629) x 100 oz , to which we add the difference between the open interest for the front month of (APRIL 1256 CONTRACTS ) minus the number of notices served upon today 861 x 100 oz per contract equals 2,702,400 OZ OR 84.055 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 (26,629) x 100 oz+ (1256) OI for the front month minus the number of notices served upon today (3861} x 100 oz} which equals 2,702,400 oz standing OR 84.055 TONNES in this active delivery month of APRIL.
We GAINED 66,600 additional oz that will stand for delivery on this side of the pond
TOTAL COMEX GOLD STANDING: 84.055 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: 1,887,433.936 oz 58.70 tonnes
TOTAL REGISTERED AND ELIG GOLD AT THE COMEX: 35,749,710.080 OZ (1111,97 TONNES)
TOTAL ELIGIBLE GOLD: 18,387,366.763 OZ (571.92 tonnes)
TOTAL OF ALL REGISTERED GOLD: 17,362,343.617 OZ (540.04 tonnes)
REGISTERED GOLD THAT CAN BE SERVED UPON: 15,469,553.0 OZ (REG GOLD- PLEDGED GOLD) 481.47tonnes
END
APRIL 2022 CONTRACT MONTH//SILVER//APRIL 26
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 1,207,525.600 ozJPM CNT Manfra |
| Deposits to the Dealer Inventory | nil OZ |
| Deposits to the Customer Inventory | 599,022.930 oz CNT |
| No of oz served today (contracts) | 14CONTRACT(S)70,000 OZ) |
| No of oz to be served (notices) | 1 contracts (5,000 oz) |
| Total monthly oz silver served (contracts) | 1357 contracts 6,785,,000 oz) |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
this month |
And now for the wild silver comex results
we had 0 deposit into the dealer
total dealer deposits: nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: nil oz
We have 1 deposits into the customer account
i) Into CNT: 599,022.930 oz
total deposit: 599,022.930 oz
JPMorgan has a total silver weight: 173.222 million oz/333.180 million =51.96% of comex
Comex withdrawals: 3
i) Out of CNT 388,394.500 oz
ii) Out of JPMorgan 603,133.400 oz
iii) Out of Manfra: 215,997.700 oz
total withdrawal 1,207,525.600 oz
2 adjustments: dealer to customer
214,525.200 ox JPMorgan
manfra; 471,328.337 oz
the silver comex is in stress!
TOTAL REGISTERED SILVER: 85.125 MILLION OZ
TOTAL REG + ELIG. 333.180 MILLION OZ
CALCULATION OF SILVER OZ STANDING FOR APRIL
silver open interest data:
FRONT MONTH OF APRIL OI: 15, HAVING LOST 12 CONTRACTS FROM THURSDAY. We had 21 notices filed yesterday,
so we GAINED 6 contracts or an additional 30,000 oz will stand on this side of the pond
MAY HAD A LOSS OF 7353 CONTRACTS DOWN TO 24.913 contracts
JUNE HAD A GAIN OF 3 TO STAND AT 1356
.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 21 for 105,000 oz
Comex volumes: 36.580// est. volume today// weak
Comex volume: confirmed yesterday: 101,232 contracts ( strong/spreader liquidation )
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 1357 x 5,000 oz = 6,785,000 oz
to which we add the difference between the open interest for the front month of APRIL (15) and the number of notices served upon today 14 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the APRIL./2021 contract month: 1357 (notices served so far) x 5000 oz + OI for front month of APRIL (15) – number of notices served upon today (14) x 5000 oz of silver standing for the APRIL contract month equates 6,790,000 oz. .
We GAINED 6 contracts or an additional 30,000 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 26/WITH GOLD UP $7.60//HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.9 TONNES INTO THE GLD./INVENTORY RESTS AT 1104.13 TONNES
APRIL 25/WITH GOLD DOWN $36.80//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1104.13 TONNES
APRIL 22/WITH GOLD DOWN $13.50: A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.61 TONNES FROM THE GLD.//INVENTORY RESTS AT 1104.13 TONNES
APRIL 21/WITH GOLD DOWN $6.80//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1106.74 TONNES
APRIL 20/WITH GOLD DOWN $3.05: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT IF 6.36 TONNES INTO THE GLD..//INVENTORY RESTS AT 1106.74 TONNES
APRIL 19//WITH GOLD DOWN $26.90//A SMALL CHANGE IN GOLD INVENTORY AT THE GLD A DEPOSIT OF .87 TONNES INTO THE GLD//INVENTORY RESTS AT 1100.36 TONNES
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
CLOSING INVENTORY FOR THE GLD//1101.23 TONNES
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
APRIL 26/WITH SILVER DOWN 13 CEENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 579.418 MILLION OZ
APRIL 25/WITH SILVER DOWN 69 CENTS: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.031 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 579.418 MILLION OZ//
APRIL 22/WITH SILVER DOWN 34 CENTS : STRANGE!! A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WHOPPING DEPOSIT OF 3.508 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 581.449 MILLION OZ//
APRIL 21/WITH SILVER UP 57 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 577.941 MILLION OZ
APRIL 20/WITH SILVER DOWN 15 CENTS : A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.955 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 577.941 MILLION OZ///
APRIL 19/WITH SILVER DOWN 62 CENTS: A SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF .461 MILLION OZ FROM THE SLV INVENTORY…//INVENTORY RESTS AT 574.986 MILLION OZ
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//
SLV FINAL INVENTORY FOR TODAY: 579.418 MILLION OZ//
PHYSICAL GOLD/SILVER STORIES
1.PETER SCHIFF
END
2.LAWRIE WILLIAMS//,//Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, James RICKARDS/
3. Chris Powell of GATA provides to us very important physical commentaries
Kinross not happy in Ghana and exits with a USA 225 million deal
(Globe and Mail/GATA)
Toronto-based Kinross Gold to exit Ghana mine in US$225-million deal
Submitted by admin on Mon, 2022-04-25 21:13Section: Daily Dispatches
By Niall McGee
The Globe and Mail, Toronto
Monday, April 25, 2022
Kinross Gold Corp. plans to sell its Ghana gold mine, as it continues on its quest to unload problem assets and reinvent itself as a less risky investment among the giants of the global gold sector.
Kinross, Canada’s second-biggest gold miner by production, said on Monday that it plans to sell its 90-per-cent stake in the Chirano mine for US$225-million to Asante Gold Corp., a Vancouver-based junior development company.
The Ghana government, which owns the remaining 10 per cent of the mine, said it has no objections to the transaction.
Toronto-based Kinross will receive US$50-million in Asante shares before closing, US$115-million in cash at the close, and the balance in deferred cash payments over the subsequent two years.
Chirano is one of Kinross’s smallest operations, producing 155,000 ounces of gold last year, compared with the company’s overall output of just more than two million ounces. Kinross acquired the mine more than a decade ago after its acquisition of Red Back Mining Inc. Earlier this year, a contractor’s truck carrying mining explosives en route to Chirano was involved in a massive accident in a residential area that led to the deaths of at least 17 people. …
… For the remainder of the report:
end
The sanctions are not working as the rouble nears 2 year highs against the Euro and the dollar
(Reuters)
Russian rouble nears 2-year high vs. euro
Submitted by admin on Mon, 2022-04-25 12:37Section: Daily Dispatches
From Reuters
Monday, April 25, 2022
The Russian rouble strengthened on Monday, firming past 77 against the euro to a near two-year high, helped by tax payments that companies are due to make this week and as the market looked ahead to a central bank rate decision on Friday.
By 1453 GMT, the rouble had gained 3.6% to trade at 77.25 versus the euro , earlier clipping 76.96, its strongest mark since June 2020.
The rouble was 3% stronger against the dollar at 73.17, hovering around levels seen before Feb. 24, when Russia sent tens of thousands of troops to Ukraine.
Trading activity remains subdued compared with levels seen before Feb. 24. Movements in the rouble are artificially limited by capital controls imposed by the central bank because it lost the ability to support the rouble through FX interventions after Western sanctions froze nearly half of the country’s reserves. …
… For the remainder of the report:
END
We brought this to your attention yesterday but it is worth repeating
(Pam and Russ Martens/Wall Street on Parade/GATA)
Pam and Russ Martens: Fed telegraphs disaster for mega-banks: rapid rate hikes hitting trillions in derivatives
Submitted by admin on Mon, 2022-04-25 11:23Section: Daily Dispatches
By Pam and Russ Martens
Wall Street on Parade
Monday, April 25, 2022
The Federal Reserve is the central bank of the United States. It sets monetary policy, including control of the benchmark short-term interest rate known as the Federal Funds rate, or in Wall Street jargon, the “Fed Funds” rate.
This is a key rate because it signals the rate at which overnight loans are made between financial institutions and the direction of interest rates in general
Unfortunately, over time, the Fed has also been granted a supervisory role by Congress over Wall Street’s megabanks alongside its ability to bail them out when its crony brand of supervision fails. There was an epic failure in the Fed’s supervision of the Wall Street megabanks in the leadup to the 2008 financial crash and the September 2019 repo blowup. In both cases, the Fed made trillions of dollars in cumulative loans at below-market interest rates to the trading units of these megabanks to resuscitate them and cover up its own failure to properly supervise the banks.
The convulsions the stock market experienced last Thursday and Friday, which investors will continue to witness in the days ahead, are inextricably tied to the failure of Congress to strip the Fed of a supervisory role over these global megabanks.
There is no better snapshot of the Fed’s failure as a banking supervisor than this one fact that is called out every quarter in the Office of the Comptroller of the Currency’s Report on Bank Trading and Derivative Activities. Table 14 of this report (see Page 19) shows that the 25 largest bank holding companies in the U.S. are sitting on $234 trillion notional (face amount) in derivatives but just five bank holding companies are responsible for $200.18 trillion of that exposure or 86% of the total. Those mega-bank holding companies are: JPMorgan Chase, Citigroup, Goldman Sachs, Morgan Stanley, and Bank of America.
The table also clearly shows that the most dangerous form of these derivatives — the same credit derivatives that blew up Wall Street in 2008 — are also concentrated at those same five bank holding companies. …
… For the remainder of the analysis:
END
4.OTHER GOLD/SILVER COMMENTARIES
5.OTHER COMMODITIES PALM OIL
The ban will not be as strict as previously feared on palm oil
(zerohedge)
Indonesia Allows Some Palm Oil Exports After Ban, Sends Prices On Rollercoaster
MONDAY, APR 25, 2022 – 10:40 PM
Palm oil futures slid Monday after Indonesia’s export ban on cooking oil last Friday will not be as strict as previously feared.
On Friday, Indonesia, the world’s largest palm oil producer, announced an export ban of all cooking oil and palm oil products beginning April 28. However, those who are in the know told Bloomberg that bulk and packaged RBD palm olein, a highly refined form of palm oil used in cooking and baking, will only be subjected to the ban.
People familiar with the matter said exports of crude palm oil and RBD palm oil will still be available for export. RBD olein accounts for nearly 40% of Indonesia’s total palm oil exports.
Palm oil for July delivery soared as much as 9% last Friday to 6,800 ringgit a ton and has since given up all gains and some.
Friday’s announcement came as a shock to many traders. One trader said, “news will certainly create mayhem.”
“Details are still scant for now, and traders are reacting on speculation that the impact of the Indonesian ban may be less than initially thought,” David Ng, senior trader at IcebergX Sdn. in Kuala Lumpur, said on Monday. It’s a slight relief but still may cause headaches worldwide. A ban on RBD palm olein, primarily used as cooking oils and for industrial frying of processed foods, could continue to tighten supply globally.
The Ukraine conflict has roiled the global edible oil market. The Black Sea region accounts for 76% of world sunoil exports. Indonesia’s move adds to the growing food protectionism as they ensure edible oil supply in domestic markets is ample to mitigate high food prices and inflation riots.
Sathia Varqa, the owner of Palm Oil Analytics in Singapore, said high palm oil prices, high demand, and shortages of edible oils at supermarkets are the reasons the government opted for the export ban on bulk and packaged RBD palm olein products.
Even though the ban is not as worse as previously thought, other parts of the world, such as Europe, have already begun to ration edible oils as the world supplies are quickly dwindling.
end
COMMODITIES IN GENERAL//DIAMONDS
END
6.CRYPTOCURRENCIES
7. GOLD/ TRADING
Your early currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings TUESDAY morning 7:30 AM
ONSHORE YUAN: CLOSED UP 6.5389
OFFSHORE YUAN: 6.5649
HANG SANG CLOSED UP DOWN 769.18 PTS OR 3.73%
2. Nikkei closed UP 109.33PTS OR 0.41%
3. Europe stocks ALL GREEN
USA dollar INDEX DOWN TO 101.92/Euro FALLS TO 1.0685
3b Japan 10 YR bond yield: FALLS TO. +.246/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 127.55/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 Gold UP /JAPANESE Yen DOWN CHINESE YUAN: UP -SHORE CLOSED DOWN// OFF- SHORE UP
3f 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.
3g Oil UP for WTI and UP FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund FALLS TO +.0.828%/Italian 10 Yr bond yield FALLS to 2.59% /SPAIN 10 YR BOND YIELDFALLS TO 1.83%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.79: DANGEROUS FOR THE ITALIAN BANKING SYSTEM
3i Greek 10 year bond yield FALLS TO : 2.97
3j Gold at $1903.40 silver at: 23.70 7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00
3k USA vs Russian rouble;// Russian rouble UP 77/100 roubles/dollar; ROUBLE AT 72.35
3m oil into the 98 dollar handle for WTI and 103 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 127.46 DESTROYING JAPANESE CITIZENS WITH HIGHER FOOD INFLATION
30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this morning .9578– as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0236well 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: 2.791 DOWN 4 BASIS PTS
USA 30 YR BOND YIELD: 2.871 DOWN 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 14.79
Futures Slide Ahead Of Tech Earnings Deluge
TUESDAY, APR 26, 2022 – 07:45 AM
One day after stocks staged a remarkable rebound and closing well in the green after sliding as much as 1.5% (ostensibly after getting a boost from the latest bout of bearishness from Dennis Gartman), index futures are trading lower again despite another attempt by China’s central bank to reassure investors overnight that China’s sliding risk assets will rebound, with investors once again preoccupied by risks from aggressive monetary tightening. S&P500 futures contracts were 0.4% not too far off the worst levels ahead of a busy session of earnings releases including Google, Microsoft and Google; Nasdaq 100 futures declined 0.3%. Treasuries were steady and the dollar gained.
“Markets in general are preoccupied by the prospect of tighter monetary policy conditions from global central banks to stem rising prices,” said Cesar Perez Ruiz, chief investment officer at Pictet Wealth Management. “Indeed, while the Federal Reserve and the ECB both stepped up their inflation-fighting rhetoric, they failed to prevent market-based inflation expectations from moving higher.”
Twitter extended gains in premarket trading after Elon Musk agreed to buy the social media company for $44 billion. Its shares are still trading below the offer price of $54.20 per share. Analysts say Musk’s vision to reduce moderation to promote free speech could put the social media company’s advertising dollars at risk. Here are some of the other big U.S. movers today:
- Meme stock Cenntro Electric (CENN) drops as much as 15% in U.S. premarket trading, after the maker of commercial electric vehicles reported a net loss of $16.4 million for 2021.
- Redbox Entertainment (RDBX) shares rise 2.8% in U.S. premarket trading after the company disclosed after Monday’s close that CFO Kavita Sutha had resigned.
- O-I Glass (OI) “crushes” its first-quarter, according to Truist Securities, with the broker noting the glass bottle maker’s operating profit beat and a guidance hike. O-I shares were up 12% in postmarket trading.
- Venator Materials (VNTR) jumps as much as 27% in premarket trading Tuesday after the company reached an $85 million cash settlement with Tronox Holdings over a break fee from a failed chemical plant deal dating back to 2018.
- Nkarta (NKTX) shares slump 8% in U.S. premarket after launching a stock offering via Cowen, SVB, Evercore at a price of $15/share that represents 19.9% discount to last close.
- Universal Health’s (UHS) weaker-than-expected results and potential guidance downgrade were driven by labor headwinds, analysts say. Shares fell 12% in after-hours trading.
- Protagonist Therapeutics’ (PTGX) PN-943 drug candidate “still has legs to make it across the finish line,” despite the Phase 2 data showing that a 450 mg BID dose did not meet its primary endpoint. Shares fell 31% in postmarket trading.
- Barclays sees positive fundamentals for medical office building property category, expanding coverage with initiations on Healthcare Realty Trust (HR US) and Physicians Realty Trust (DOC) at overweight.
Companies reporting earnings on Tuesday include Microsoft, Google parent Alphabet and Visa.
European stocks traded well, the Stoxx 600 Index 0.8% higher with energy and mining shares gaining as commodity prices rebounded. Euro Stoxx rises as much as 1.25%, roughly halving Monday’s decline. Miners and real estate lead broad sectoral gains. A third of Stoxx 600 companies will be updating on earnings and sales this week.
Asian stocks pared most of their early Tuesday advance as Chinese shares gave up gains spurred by a renewed central bank pledge to support the region’s biggest economy. The MSCI Asia Pacific Index was up 0.3% as of 5:38 p.m. in Hong Kong, versus an earlier rally of as much as 0.8%. China’s CSI 300 Index ended 0.8% lower as worries about a potential city-wide lockdown in Beijing weighed on sentiment. Still, a gauge of the nation’s tech stocks jumped almost 3% in Hong Kong on fresh policy promises to end a regulatory crackdown in the sector. Continued losses in Chinese equities have weighed on the Asian stock benchmark, which is headed for a fourth straight month of losses. China’s government expanded Covid-19 testing to most of Beijing, sparking fears about an unprecedented lockdown. Traders have said a change in the nation’s Covid-Zero strategy is the key to turning around sentiment.
“It would be difficult to see a quick improvement in sentiment” amid weak market fundamentals and fund flows, said Kim Kyung Hwan, a Chinese equity strategist at Hana Financial Investment in Seoul. “Market players are waiting for stronger measures, such as an interest-rate cut.” Elsewhere in Asia, stocks rose in India and South Korea while those in Australia slipped. Traders are also monitoring results releases in what is set to be the busiest week of the current earnings cycle in Asia.
Japanese equities rose for the first time in three sessions, boosted by gains in telecoms. Service providers also lifted the Topix, which rose 0.1%. SoftBank Group and M3 Inc. were the largest contributors to a 0.4% rise in the Nikkei 225
Australian stocks fell the most in two months on the continued Materials selloff. The S&P/ASX 200 index fell 2.1%, the most since Feb. 24, to close at 7,318.00, as trading resumed after a three-day break. The materials and energy groups led declines following drops in commodities prices. EML Payments tumbled to the lowest level in two years after lowering its revenue and earnings forecasts for the full year. Nufarm was among the biggest gainers, rising to its highest level since September 2018 after issuing 1H guidance. In New Zealand, the S&P/NZX 50 index fell 0.8% to 11,813.18.
Fixed income grinds higher with 10y bund and UST futures erasing Asia’s losses; the 10-year TSY is around 2.795% outperforming bunds by ~2.5bp, gilts by ~3.5bp. Treasuries are moderately richer across the curve, sharply outperforming bunds and gilts over the London session, although 10-year note futures remain inside Monday’s range. US yields are richer by 1bp-3bp across most of the curve with long-end lagging slightly, steepening 5s30s and 10s30s by ~2bp. Peripheral spreads widen to cover with long-end Portugal underperforming. Japan’s bond futures gained after the central bank said it will extend its unlimited debt buying operation by two more days.
In FX, the Bloomberg Dollar Spot Index rose a fourth day, as the greenback advanced against most of its Group-of-10 peers. Treasury yields dropped 2-3 bps across the curve. The euro fell to touch $1.0673, the lowest level since March 2020. European bonds were little changed, underperforming U.S. Treasuries. China’s yuan rose for the first time in six days after the nation’s central bank pledged to support the economy through targeted financing for small businesses, and a quick resolution of the ongoing crackdown on technology firms, in a bid to reassure investors nervous about growth and Covid lockdowns. Australian dollar climbed on leveraged buying as China’s policy-support pledge spurred a turnaround in the nation’s stock indexes and added to a bounce in oil and iron ore. The yen was set for its longest winning streak in almost a month. The pound ticked lower against the dollar amid broad-based greenback strength and Gilts inched up, led by the short end. Prime Minister Boris Johnson will urge ministers to explore “innovative ways” to ease pressures on household finances on Tuesday
In commodities, crude futures decline with WTI eventually finding support near $97. Spot gold posts small gains, Bitcoin holds a narrow range near $40,500. Binance has launched Binance Refugee Crypto Card for all current and new Binance users from Ukraine moving to EEA countries
Looking at the day ahead, data releases from the US include the Conference Board’s consumer confidence indicator for April, preliminary March data on durable goods orders and core capital goods orders, the FHFA house price index for February, and new home sales for March. From central banks, we’ll hear from the ECB’s Villeroy and de Cos. Finally, earnings releases include Microsoft, Alphabet, Visa, Pepsico, UPS, Texas Instruments, General Electric and General Motors.
Market Snapshot
- S&P 500 futures down 0.3% to 4,281.50
- STOXX Europe 600 up 0.8% to 448.67
- MXAP up 0.2% to 166.28
- MXAPJ up 0.3% to 546.79
- Nikkei up 0.4% to 26,700.11
- Topix up 0.1% to 1,878.51
- Hang Seng Index up 0.3% to 19,934.71
- Shanghai Composite down 1.4% to 2,886.43
- Sensex up 1.0% to 57,161.33
- Australia S&P/ASX 200 down 2.1% to 7,317.98
- Kospi up 0.4% to 2,668.31
- German 10Y yield little changed at 0.84%
- Euro down 0.2% to $1.0687
- Brent Futures down 0.3% to $101.97/bbl
- Brent Futures down 0.3% to $101.97/bbl
- Gold spot up 0.3% to $1,902.86
- U.S. Dollar Index up 0.13% to 101.89
Top overnight News from Bloomberg
- ECB Governing Council member Martins Kazaks says the central bank should raise interest rates soon and has room for as many as three hikes this year, Reuters reports
- The renewed pledge by Chinese authorities to boost the economy is being met with skepticism by stock traders worried about a potential city-wide lockdown in Beijing
- China’s central bank pledged to increase support for the economy, seeking to reassure investors as financial markets take a hammering from a worsening growth outlook and threats of widespread Covid lockdowns.
- China’s economy slowed rapidly in April as the costs of both a worsening Covid outbreak and the nation’s stringent approach to eliminating the virus took their toll.
- Oil held its decline below $100 a barrel as investors assessed the impact of China’s Covid-19 resurgence on the outlook for global demand.
- Base metals in London plunged on Monday, following sinking iron ore markets in Asia as investors fret over deteriorating demand outlook in China and higher interest rates in western economies.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were mostly higher with bourses in the region encouraged after the rebound on Wall Street. ASX 200 bucked the trend as the prior day’s rout caught up with markets in Australia and New Zealand on return from the extended weekend, with miners pressured by tepid output from South32 and Woodside Petroleum. Nikkei 225 gained after a surprise decline in Unemployment and amid preparations for a relief package. Hang Seng and Shanghai Comp were lifted as strength in tech helped the former reclaim the 20k level and after further PBoC policy support pledges gradually offset the initial Beijing COVID-19 jitters in the mainland.
Top Asian news
- BOJ Extends Unlimited Bond Buying Into Policy Meeting This Week
- China Tech Stocks Rebound as Beijing Renews Policy Support
- China Is Running Out of Ways to Stem Self-Made Market Meltdown
- Tencent-Backed Fintech Startup Airwallex Said to Seek New Funds
European bourses feel some reprieve following the bout of selling seen in recent sessions and following Wall Street’s afternoon bounce yesterday. Sectors are all in the green but to varying degrees – with Basic Resources rebounding with a vengeance after yesterday’s slide, albeit Energy has failed to hold onto early gains as the underlying commodity price wanes. Stateside, US equity futures trade relatively flat with a mild downside bias (ES -0.1%, NQ -0.1%, RYT -0.1%, YM -0.1%), trimming earlier losses. United Parcel Service Inc (UPS) Q1 2022 (USD): EPS 3.03 (exp. 2.88), Revenue 24.4bln (exp. 23.79bln), reaffirms guidance; doubles buy-back target to USD 2bln
Top European News
- Germany to Send Anti-Aircraft Tanks to Ukraine in Policy Shift
- European Gas Prices Swing With Focus on LNG Imports, Russia Flow
- Gupta’s GFG Alliance Offices in Paris Raided by French Police
- Sunak Warns Future Generations at Risk From U.K. Debt Burden
FX
- Dollar mixed as broad risk appetite returns after Monday’s flight to safety; USD down vs high betas, but up against most index components.
- Aussie and Kiwi refreshed following long holiday weekend and further rebound in Yuan on the back of China’s RRR reduction effective May 15
- Euro and Pound flounder as DXY eyes 102.000 and conflict contagion weighs heavier in Europe relative to the US
- Yen continues to consolidate off multi year lows after a dip in Japan’s unemployment rate and Government rolls out fiscal relief measures
- Japanese PM Kishida said rapid FX moves are undesirable; no comment on specific JPY levels.
Fixed Income
- Debt futures resume recovery rally or retracement from recent cycle lows with curves a tad flatter ahead of 2 year US auction
- Bunds are just shy of Monday’s 155.26 peak, Gilts back above 119.00 and 10 year T-note eyeing 120-00
- BTPs hold firm following Italian issuance, irrespective marginally softer cover ratios
- UK debt lags after larger than forecast PSNB deficit and upwardly revised 2022/32 DMO remit
- UK DMO raises its 2022/23 Gilt issuance remit to GBP 131.5bln from GBP 124.7bln and sees GBP 7bln additional T-bill sales
Commodities
- WTI and Brent June futures continue drifting lower as the crude complex continues to be dampened by China’s COVID situation.
- Spot gold was pressured by the firmer Buck and fell to a current intraday low of USD 1,894/oz in early trade before finding a base and reclaiming a USD 1,900/oz handle
- Base metals, meanwhile, are mostly firmer in what is seemingly a rebound following yesterday’s downside.
- Shanghai Futures Exchange raises trading limits and margin requirements for steel rebar, wire rod, and hot rolled coils futures from settlement on April 28.
US Event Calendar
- 08:30: March Durable Goods Orders, est. 1.0%, prior -2.1%; -Less Transportation, est. 0.6%, prior -0.6%
- 08:30: March Cap Goods Ship Nondef Ex Air, est. 0.5%, prior 0.3%; Cap Goods Orders Nondef Ex Air, est. 0.5%, prior -0.2%
- 09:00: Feb. S&P CS Composite-20 YoY, est. 19.20%, prior 19.10%
- Feb. S&P/CS 20 City MoM SA, est. 1.50%, prior 1.79%
- 10:00: April Conf. Board Consumer Confidenc, est. 108.2, prior 107.2
- Present Situation, prior 153.0; Expectations, prior 76.6
- 10:00: April Richmond Fed Index, est. 9, prior 13
- 10:00: March New Home Sales, est. 768,000, prior 772,000
- March New Home Sales MoM, est. -0.6%, prior -2.0%
DB’s Jim Reid concludes the overnight wrap
I’ll admit to being a bit tired this morning as at 2am I got woken by loud constant shouts of “Daddy, Daddy”. On bleary eyed investigation one of the twins wanted to know when we are next going to a water park. As we haven’t discussed this or been to one since last summer this was a bit random. I said it was inappropriate to shout the house down at 2am to ask this. He then said “what’s inappropriate mean”. I angrily shut the conversation down which didn’t help him or I get back to sleep very quickly.
The market felt tired and worn down by the building risks yesterday and by the time Europe closed things were looking pretty bleak. However a late rally turned the S&P 500 from being -1.67% to closing +0.57%. The Nasdaq closed +1.29% and was rallying back even before Twitter agreed to sell the company to Elon Musk. Outside of that late story it was hard to find a narrative for the strong rebound. Tech stocks will stay front-and-center though as earnings progress this week, with Microsoft and Alphabet both set to report after the close tonight.
It was much easier to find a narrative for the earlier sell-off as investors grappled with the continued Covid outbreak in China, further signs of inflationary pressures, and the prospect that the Fed and other central banks’ hiking cycles might push their economies into recession. As Europe closed the S&P was over -7% lower in April and on track to see the worst month since the pandemic rout of March 2020. Even with the rebound, the index is still more than -5% lower over April and still at risk of taking the ignominious title of worst monthly return since Covid if it dips below this January’s -5.26% return.
Bonds also sold off with the US equity bounce back but unlike equities held on a large proportion of the days gains. 10yr Treasuries closed down -7.9bps to 2.82%, after being as much as -14bps lower intraday. That decline was driven by declining inflation expectations, as growth fears dominated. Given the global growth fear flavour of yesterday’s risk off, the 2s10s curve flattened -3.7bps to 18.8bps, as 2yr yields lagged the longer-maturity rally. The curve has maintained its level this morning but the yield reversal has continued with 2 and 10yr yields both back up around +3.5bps as we type.
The dollar was another significant beneficiary yesterday, strengthening +0.53% to levels not seen since March 2020, and leaving it on track for its best monthly performance since January 2015. It’s given up -0.18% of the gains so far this morning.
As discussed, the biggest concern yesterday came from China, where the potential that there could be a lockdown in Beijing (in addition to the one already in Shanghai) saw the CSI 300 (-4.94%) fall to a 2-year low in yesterday’s session, marking the index’s worst daily performance since the original Covid-19 outbreak there in February 2020. This morning the index is +0.90% higher with the Shanghai Composite (+0.67%) also trading in positive territory after the PBOC reassured markets of their policy support for the economy. That comes as Beijing expanded its Covid testing to 11 further districts from today until April 30, with growing questions as to how the economy will perform against the backdrop of further lockdowns, particularly if the country continues its Zero Covid strategy. Other Chinese assets are also struggling, with the offshore Yuan weakening to its lowest levels against the US Dollar since 2020, though yesterday the People’s Bank of China said in a statement that they will lower banks’ FX reserve ratio from 9% to 8% beginning May 15. Overnight, the Yuan has witnessed a rebound, climbing +0.4% to 6.533 against the US dollar, snapping five days of losses.
Elsewhere in Asia, equity markets are mostly trading higher with the Hang Seng (+1.81%) leading gains across the region in early trading amid a gain in tech stocks. Elsewhere, the Nikkei (+0.51%) is up following the release of upbeat jobs data. Data showed that Japan’s jobless rate unexpectedly dropped 0.1 percentage points to 2.6% in March while the Job-To-Applicant Ratio improved to +1.22 in March from +1.21, climbing for the third consecutive month. Meanwhile, the Kospi (+0.60%) is climbing after South Korea’s Q1 GDP data surprised on the upside. The nation’s GDP expanded +0.7% q/q, slowing from +1.2% a quarter earlier, but slightly faster than the +0.6% expected.
Looking ahead, stock futures in the US are pointing to a positive start with contracts on the S&P 500 (+0.23%) and Nasdaq (+0.25%) trading up with European future soaring (Stoxx 50 +1.66%) after the poor close yesterday.
European sovereign bonds are likely to sell off at the open after a strong close yesterday before the risk relief rally. Yesterday, yields on 10yr German bunds (-13.5bps) saw the biggest declines as havens outperformed. The French 10yr spread over bunds did widen by +2.6bps, but that was part of a broader widening in European spreads rather than because of the election result that was mostly priced in already, and we also saw the Italian (+4.1bps) and Greek (+11.0bps) spreads move by even larger margins. That left the Italian spread at 173.6bps, its widest level since June 2020.
Back to equities and earlier the STOXX 600 (-1.81%) slumped along with other bourses on the continent, closing during the nadir in US equities. On a sectoral basis, the biggest global underperformer for equities were energy stocks, but that was no surprise considering the decline in oil prices given concerns over Chinese demand going forward. By the close, Brent Crude fell by -4.06% to $102.32/bbl, but rallied along with equities after trading as much as -6.30% lower intraday and below $100/bbl for the first time in a couple of weeks. WTI was also down -3.46% at $98.54/bbl. And other energy prices lost ground too, with European natural gas futures (-2.15%) falling to their lowest levels since Russia’s invasion of Ukraine began, at €92.84/MWh. Oil is back up around 1% this morning after the renewed global risk appetite.
In spite of the more negative growth tone in markets, the Ifo’s business climate indicator from Germany yesterday came in above expectations in April, with the reading at 91.8 (vs. 89.0 expected), marking an unexpected improvement from the March reading that had been the worst since August 2020. Otherwise on the data side, the Dallas Fed’s manufacturing activity index for April fell to 1.1 (vs. 5.0 expected), the lowest since July 2020.
To the day ahead now, and data releases from the US include the Conference Board’s consumer confidence indicator for April, preliminary March data on durable goods orders and core capital goods orders, the FHFA house price index for February, and new home sales for March. From central banks, we’ll hear from the ECB’s Villeroy and de Cos. Finally, earnings releases include Microsoft, Alphabet, Visa, Pepsico, UPS, Texas Instruments, General Electric and General Motors.
3. ASIAN AFFAIRS
i)TUESDAY MORNING// MONDAY NIGHT
SHANGHAI CLOSED DOWN 42.09 PTS OR 1.44% //Hang Sang CLOSED UP 65.69 OR 0.94% /The Nikkei closed UP 109.33 PTS OR 0.41% //Australia’s all ordinaires CLOSED DOWN 2.11% /Chinese yuan (ONSHORE) closed UP 6.5389 /Oil UP TO 98.76 dollars per barrel for WTI and DOWN TO 103.04 for Brent. Stocks in Europe OPENED ALL GREEN // ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.5789 OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.5669: /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
Japan doing the opposite of the uSA as they are now spending billions to “ease inflationary pain” causes by you guessed it huge spending of billions of yen
(zerohedge)
Japan To Spend Billions To “Ease Inflationary Pain” Caused By Spending Billions
MONDAY, APR 25, 2022 – 08:00 PM
How stupid are today’s monetary and fiscal policies (and not just the batshit insanity that is Helicopter money, a/k/a MMT?) So stupid that in Japan, the government is about to spend billions to “ease inflation pain” that is the result of… spending billions.
According to the Nikkei, Japan plans to spend 6.2 trillion yen ($48.2 billion) on – get this – gasoline subsidies, low-interest loans and cash assistance “to alleviate the pain of consumers and small businesses facing rising prices”, which were caused by, well, massive government spending.
The government frames the economic package, to be compiled as early as Tuesday, as comprehensive relief measures. But critics – at least those who refuse or fail to see the real monetary elephant in the room – see them as a short-term remedy, especially as other countries tackle more fundamental changes on energy and other key economic factors in response to Russia’s invasion of Ukraine.
To pay for the package, the government will request 2.7 trillion yen under a supplementary fiscal 2022 budget to be drafted by the end of the current parliamentary session. It will secure another 1.5 trillion yen from its reserve funds. Together with private-sector contributions, the entire package is expected to total 13.2 trillion yen.
The largest portion of the government’s spending – 1.5 trillion yen – will fund the response to surging crude oil prices. To limit the increase in gasoline prices, the government will raise its maximum subsidy to oil distributors to 35 yen per liter from 25 yen and extend the program until the end of September.
The new package includes around 2 trillion yen in measures that were already planned and budgeted for, including efforts to boost the profile of tourist destinations. According to the Nikkei, there is concern that they include ones that have little to do with inflation but apparently not enough concern that the “solution” to the inflationary problem will lead to even more inflation.
end
3c CHINA
CHINA/COVID LOCKDOWNS//ECONOMY
China copies Japan and pledges to support markets more after stock rout.
(zerohedge)
China Pledges To Support Markets After Stock Rout, But Traders Demand More
TUESDAY, APR 26, 2022 – 08:30 AM
Just hours after the PBOC unveiled an FX required reserve cut on Monday to prop up the suddenly sliding Chinese currency, on Tuesday the Chinese central bank went two for two when it said that recent market fluctuations were driven by investor expectations and sentiment, and vowed – again – to increase policy support and promote “healthy and stable” financial market development, according to a statement from PBOC, similar to what it did a month ago when it sparked a major Chinese stock squeeze which however promptly fizzled.
Among the various assurances by the PBOC meant to prop up risk assets were:
- PBOC vows to keep liquidity reasonably ample
- PBOC promises to increase support for the real economy via prudent monetary policy, especially for industries hit hard by the pandemic and smaller businesses
- PBOC vows to complete rectifications of major platform companies as quickly as possible, statement says, without giving a timetable
- PBOC will increase 100b yuan of relending quota for coal mining, use and storage
- PBOC will also add relending quota for aviation sector, statement says, without offering value
Predictably, the kneejerk response was favorable, with the yuan strengthening and Chinese equities turning higher. The CSI 300 index, which yesterday plunged at the fastest pace since 2020, rebounded 1.4% and ChiNext rose 2% while the Hang Seng Tech index jumped more than 5% as the central bank vows to complete internet platform-company rectification quickly; the kneejerk euphoria also helped prop up S&P futures which rose 0.2% and Euro Stoxx futures rebound about 1.6% (before fading all gains) while the dollar weakens against all G-10 majors with Aussie leading the winners; hopes that China would stabilize its flailing economy also pushed WTI crude futures 1% to near $99.40; with gold adds about $5 to rise back over $1,903.
However, after the early bounce, Asian stocks pared most of their early Tuesday advance and Chinese shares gave up all gains spurred by the PBOCs’s renewed pledge to support the region’s biggest economy. The MSCI Asia Pacific Index closed up 0.3% versus an earlier rally of as much as 0.8%, with China’s CSI 300 Index ended 0.8% lower as worries about a potential city-wide lockdown in Beijing weighed on sentiment.
Still, a gauge of the nation’s tech stocks jumped almost 3% in Hong Kong on fresh policy promises to end a regulatory crackdown in the sector.
In other words, traders have had their fill of jawboning and hollow rhetoric from the PBOC and now demand solid actions; until then expect to see more weakness in both local stocks and the yuan. Meanwhile, China’s expanded Covid-19 testing to most of Beijing has sparked fears about an unprecedented lockdown and even faster economic slowdown.
As such, traders say a change in the nation’s Covid-Zero strategy is the key to turning around sentiment. “It would be difficult to see a quick improvement in sentiment” amid weak market fundamentals and fund flows, said Kim Kyung Hwan, a Chinese equity strategist at Hana Financial Investment in Seoul. “Market players are waiting for stronger measures, such as an interest-rate cut.”
To get that cut, however, stocks will first have to drop much more – as BofA’s Michael Hartnett often repeats, “markets stop panicking when officials start panicking.“
END
SHANGHAI//BEIJING COVID//LOCKDOWNS
Black markets are again thriving in Chinese markets as Beijing is moving into lockdowns joining Shanghai
(zerohedge)
Black Markets Thriving In China As Punishing COVID Lockdowns Evoke Planned Economy Of The Past
MONDAY, APR 25, 2022 – 11:20 PM
Chinese stocks got slammed overnight as rumors about a potential lockdown in Beijing have sent people scrambling for food and other necessities (many items, like fruit, coffee and even disposable diapers are now considered “frivolous” under the terms of the lockdown in Shanghai). Meanwhile, the situation in Shanghai, having entered its 4th week (and even longer in the eastern part of the city), has spurred a level of need that is not only leaving citizens desperate – but also reminding many of the bad old days when central planning was the status quo in China, creating an environment that allowed black markets to flourish.
Indeed, as the New York Times reports, black markets are flourishing once again in the lockdown era, but this time around businesses are the main participants as they scramble to find ways to meet their customers needs while complying with impossibly strict CCP measures.
As a result, the costs of purchasing certain essential items – including day passes to travel on Shanghai’s mostly deserted streets, are costing businesses the equivalent of $2,000 per day, costs that are being passed down to consumers.
Because of Covid restrictions, commercial trucks have a hard time delivering food and household goods to Shanghai. Inside the city, only vehicles with passes are allowed on the road.
On the black market, some operators are willing to pay $2,000 for a day pass. The cost is then priced into the groceries they sell to the residents.
One owner of a logistics company who spoke to the NYT said the situation in China is so bad, it’s without precedent.
“I’ve been in the logistics business for 28 years,” Mr. Yang, 47, said in an interview. “But I’ve never seen a mess like this. There were numerous emergencies to deal with.” He estimates that he lost tens of thousands of dollars in March.
For those who are wondering why China’s leadership is choosing to inflict so much pain on its population after confirming such a relatively small number of cases and deaths, the NYT reminds us of President Xi’s latest position on the lockdowns – which has been, essentially, to double down.
But Mr. Xi has not budged from his zero Covid position. “Perseverance is victory,” he said on April 13. The state media, provincial party secretaries and lower-level government officials all know who is in charge and are eager to show their loyalty. Many local officials are escalating pandemic-control measures so they don’t risk an outbreak that could put their positions in danger.
Adding what seems like another helpful piece of context, the NYT confirms that companies in Shanghai can’t really operate right now unless they can create a “closed loop” system – which would mean forcing workers to live at work, something we have already described in detail.
Some factories in Shanghai, such as Tesla and some of its suppliers, have resumed production. But they must follow a set of complicated and expensive pandemic-control measures, including creating what’s called a closed-loop management system in which workers live on-site and test regularly for the virus.
Not many companies are willing or able to do this. One senior executive of a major logistics company told me that they have only a few thousand delivery workers back on the job in Shanghai because they lack the capacity to provide lodging for so many workers. That’s significantly lower than the more than 60,000 delivery workers the company had in peak seasons in the past few years.
As they struggle to deal with a government that’s totally unsympathetic to their plight, business owners are quietly wondering how much longer they could hold out without completely draining their cash reserves.
The chief executive of a high-flying consumer brand is also wondering how long her company’s cash can last. The company raised $100 million last year and had ambitious expansion plans, she said in an interview. But nearly a third of her company’s 150 retail stores had to shut their doors in locked-down cities. Their online sales, which weren’t hurt in 2020, are suffering now because many cities shut the highway exits, halting e-commerce deliveries.
Finally, as the Shanghai lockdown drags on, people are growing increasingly worried about not just the spread of lockdowns, but the spread of the economic stressors that they are creating.
John Ji, a real estate developer in Nanjing of Jiangsu Province, is anxiously watching the lockdowns in Shanghai and other cities. He believes that many people will lose their jobs and have difficulty paying mortgages. When nobody can afford housing, he asked, who will buy his apartments?
The results could be truly devastating.
CHINA/ECONOMY
CHINA/GLOBAL SHIPPING
end
4/EUROPEAN AFFAIRS//UK AFFAIRS/EU
EU//MUSK
I think i have heard everything :jail time for Musk in Europe if he allows free speech on Twitter
(zerohedge)
Elon Musk ‘Clarifies’ Free Speech Stance After EU Threats
TUESDAY, APR 26, 2022 – 04:14 PM
Update (1615ET): Elon musk clarified what he meant by “free speech,” writing in a Tuesday tweet: “I simply mean that which matches the law.”
* * *
The European Union has put Elon Musk on notice – warning that he faces hefty fines or even a ban if he allows free speech on Twitter.
EU commissioner Thierry Breton told the Financial Times that Musk must follow rules on moderating illegal and harmful content online, since words have been elevated to ‘sticks & stones’ when it comes to the dangers of modern life.
“We welcome everyone. We are open but on our conditions. At least we know what to tell him: ‘Elon, there are rules. You are welcome but these are our rules. It’s not your rules which will apply here,” said Breton.
Musk’s take-private deal for Twitter could transform the Tesla chief executive, who has used the platform to attack regulators and critics, into a social media baron, given that millions of people rely on the San Francisco-based platform for news.
He said on Monday that “free speech is the bedrock of a functioning democracy” and described Twitter as “the digital town square where matters vital to the future of humanity are debated”. -FT
Breton’s comments come just days after Brussels signed a major piece of legislation targeting big tech for not doing enough to police content online, which runs counter to Musk’s plan to loosen Twitter’s content moderation policies to match his stated “free speech absolutist” ideology that could even see the return of former President Donal Trump to the platform (despite Trump’s insistence he won’t be back).
According to Breton, he’s simply offering Musk a “reality check” over plans for less stringent moderation, as a lack of compliance risks a ban in Europe.
“Anyone who wants to benefit from this market will have to fulfill our rules. The board [of Twitter] will have to make sure that if it operates in Europe it will have to fulfill the obligations, including moderation, open algorithms, freedom of speech, transparency in rules, obligations to comply with our own rules for hate speech, revenge porn [and] harassment,” said Breton, adding “If [Twitter] does not comply with our law, there are sanctions — 6 per cent of the revenue and, if they continue, banned from operating in Europe.“
END
FINLAND
END
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
RUSSIA//GERMANY
Russia expels 40 German diplomats in retaliation for “unfriendly decision”
(zerohedge)
Russia Expels 40 German Diplomats In Retaliation For “Unfriendly Decision”
TUESDAY, APR 26, 2022 – 02:45 AM
Russia announced Monday it is expelling 40 German diplomats in a stunning tit-for-tat move given the huge size of the group of officials being booted from Russian soil. The Kremlin said it’s a response to the “unfriendly decision” of Berlin to earlier in the month expel Russian diplomats due to the invasion of Ukraine.
In its latest statement, Russia’s Foreign Ministry said it summoned Germany’s ambassador to deliver a written note “declaring persona non grata 40 employees of German diplomatic institutions in Russia as part of a symmetrical response.”German Embassy in Moscow via TASS
The ministry later affirmed that “A strong protest was made to the head of the German diplomatic mission in Moscow in connection with the openly unfriendly decision of the German government.”
The families of the 40 are also expected to leave the country, meaning this will impact at least 100 Germans currently in Russia. German Foreign Minister Annalena Baerbock blasted the move as “in no way justified” but admitted that it was “expected” due to the German government’s prior anti-Russia move.
Germany’s initial decision to expel what it described as a “significant number” of Russian diplomats was due to the “unbelievable brutality” of the Russian military, in a statement issued earlier in April.
Germany Chancellor Olaf Scholz has meanwhile been accused of slowing NATO’s response to the Ukraine crisis by refusing to approve sending tanks and other heavier weaponry…
Baerbock had justified Germany’s prior punitive action against Russian officials based on accusing them of being “spies” and not diplomats.
Baerbock said Monday that the 40 Russian diplomats previously expelled by Berlin “did not serve diplomacy for a single day”. But she characterize this new Kremlin move against German diplomats as unwarranted because they had “not done anything wrong.”
END
UKRAINE
Bans bitcoin purchases
Ukraine Bans Bitcoin Purchases With National Currency Amid Martial Law
TUESDAY, APR 26, 2022 – 03:30 AM
Authored by ‘NAMCIOS’ via BitcoinMagazine.com,
Ukraine’s central bank is prohibiting bitcoin buys with the hryvnia in an attempt to prevent what it calls “unproductive” capital outflows.
- The Ukrainian central bank has banned bitcoin purchases with the national fiat currency.
- The bank said the move seeks to prevent “unproductive” capital outflows in a bid to preserve the health of the country’s FX market.
- In addition to cryptocurrency buys, the new rules also target electronic wallet deposits, FX transactions and travel payments.
The Ukrainian central bank is now prohibiting citizens from purchasing bitcoin with the local fiat currency, the hryvnia (UAH), as it attempts to curb capital outflows under martial law.
Under the new rules, the National Bank of Ukraine (NBU) is also limiting the amount of cryptocurrency people can buy with foreign currencies – an equivalent of UAH 100,000 (about $3,390) per month.
The restrictions are not exclusive to Bitcoin.
The new directives imposed by the NBU cover a slew of asset purchases and “quasi cash” transactions, including replenishment of electronic wallets, brokerage or foreign exchange (FX) accounts and payment of traveler’s checks.
“The relevant changes will help improve the foreign exchange market, which is a necessary prerequisite for easing restrictions in the future, as well as reducing pressure on Ukraine’s international reserves,” the bank said in a statement Thursday.
NBU said the move is necessary because even though the FX market has been mostly balanced over the past month, “significant volumes” of foreign currency purchases by banks seeking international settlements “create some additional pressure.”
Regular payments abroad and locally for goods and services do not fall under the umbrella of new restrictions, the bank added, as it seeks to limit “quasi cash” transactions that are used to circumvent restrictions imposed by the NBU and lead to “unproductive” capital outflows.
The bank said the Ukrainian government adopted the changes in an NBU board resolution from April 20, which went into effect on the same day.
6// GLOBAL COVID ISSUES/VACCINE MANDATE/
A major study shows heart inflammation is much more prevalent among vaccinated than unvaccinated
(Stieber/EpochTimes)
Scientists Discover Heart Inflammation More Prevalent Among Vaccinated Than Unvaccinated: Study
MONDAY, APR 25, 2022 – 06:20 PM
Authored by Zachary Stieber via The Epoch Times (emphasis ours),
Heart inflammation requiring hospital care was more common among people who received COVID-19 vaccines than those who did not, according to a new study of tens of millions of Europeans.A boy receives a dose of the Pfizer COVID-19 vaccine in Espoo, Finland, on Sept. 24, 2021. (Emmi Korhonen/Lehtikuva/AFP via Getty Images)
Rates of myocarditis or pericarditis, two types of heart inflammation, are above the levels in an unvaccinated cohort, pegged at 38 per 100,000 after receipt of a second dose of a vaccine built on messenger RNA (mRNA) technology in males aged 16 to 24—the group studies have shown are most at risk of the post-vaccination condition—researchers with health agencies in Finland, Denmark, Sweden, and Norway found.
“These extra cases among men aged 16–24 correspond to a 5 times increased risk after Comirnaty and 15 times increased risk after Spikevax compared to unvaccinated,” Dr. Rickard Ljung, a professor and physician at the Swedish Medical Products Agency and one of the principal investigators of the study, told The Epoch Times in an email.
Comirnaty is the brand name for Pfizer’s vaccine while Spikevax is the brand name for Moderna’s jab.
Rates were also higher among the age group for those who received any dose of the Pfizer or Moderna vaccines, both of which utilize mRNA technology. And rates were elevated among vaccinated males of all ages after the first or second dose, except for the first dose of Moderna’s shot for those 40 or older, and females 12- to 15-years-old.
Researchers pulled data from national health registers, analyzing 23.1 million people aged 12 or older. The analysis was of data from Dec. 27, 2020, to incidence of myocarditis or pericarditis, or the end of the study time period, which was Oct. 5, 2021.
“The risks of myocarditis and pericarditis were highest within the first 7 days of being vaccinated, were increased for all combinations of mRNA vaccines, and were more pronounced after the second dose,” researchers wrote in the study, which was published by the Journal of the American Medical Association following peer review.
Moderna and Pfizer did not respond to requests for comment.
Some previous studies have indicated that the risk of heart inflammation is higher from the companies’ vaccines, or certain doses of the vaccines, than from COVID-19 itself.
Others have concluded the opposite, including a recent non-peer-reviewed study from the U.S. Centers for Disease Control and Prevention, though that is one of the papers that has estimated a higher rate of post-vaccination heart inflammation.
Authorities in the United States and many European countries continue recommending vaccination for virtually every eligible person, regardless of age, health condition, or prior infection.
The Nordic countries, however, halted use of Moderna’s vaccine in 2021 for youth and young adults due to concerns over post-vaccination heart inflammation.
Ljung said he could not answer whether the results mean some people should consider only a single dose, or no doses, of a COVID-19 vaccine because the Swedish Medical Products Agency doesn’t give those types of recommendations.
In a press release promoting the study, researchers said that occurrence of the heart inflammation is “very rare” and claimed that “the benefits of these vaccines to reduce the risk of severe COVID-19 and death outweigh the risks of side effects.”
Dr. Peter McCullough, the chief medical adviser for the Truth for Health Foundation and a cardiologist who is seeing patients with post-vaccination heart inflammation, disagreed.
“In cardiology we spend our entire career trying to save every bit of heart muscle. We put in stents, we do heart catheterization, we do stress tests, we do CT angiograms. The whole game of cardiology is to preserve heart muscle,” McCullough told The Epoch Times. “Under no circumstances would we accept a vaccine that causes even one person to stay sustain heart damage. Not one. And this idea that ‘oh, we’re going to ask a large number of people to sustain heart damage for some other theoretical benefit for a viral infection,’ which for most is less than a common cold, is untenable. The benefits of the vaccines in no way outweigh the risks.”
end
This is scary!! Why are children getting rare hepatitis cases?
(zerohedge)
Why Are Rare Hepatitis Cases Rising In Children?
MONDAY, APR 25, 2022 – 10:00 PM
At least 169 children aged one month to 16 years-old have contracted cases of acute hepatitis in an outbreak spanning at least 11 countries, according to the World Health Organization.
Hepatitis is an inflammation of the liver, which filters the blood, helps fight infections and processes nutrients.
At least one child is dead and 17 have required liver transplants from the disease. The majority of the cases, 114, were reported in the United Kingdom, while 13 were from Spain, 12 from Israel, nine in the USA, and a smaller number of cases in Denmark, Ireland, the Netherlands, Italy, Norway, France, Romania and Belgium.
Most of the cases had no fever, nor any of the common viruses that typically cause acute viral hepatitis, such as adenoviruses, which cause hepatitis A, B, C, D and E.
“It is not yet clear if there has been an increase in hepatitis cases, or an increase in awareness of hepatitis cases that occur at the expected rate but go undetected,” said the WHO. “While adenovirus is a possible hypothesis, investigations are ongoing for the causative agent.”
According to the Saturday statement, the clinical syndrome “among identified cases is acute hepatitis (liver inflammation) with markedly elevated liver enzymes,” with many suffering gastrointestinal issues such as diarrhea, abdominal pain and vomiting “preceding presentation with severe acute hepatitis” along with increased levels of liver enzimes or alanine aminotransaminase and jaundice.
Hepatitis symptoms:
- dark urine.
- pale, grey-coloured poo.
- itchy skin.
- yellowing of the eyes and skin (jaundice).
- muscle and joint pain.
- a high temperature.
- feeling and being sick.
- feeling unusually tired all the time.
- loss of appetite.
- tummy pain.
Most of the cases did not present with a fever, according to the WHO, which added that an investigation needs to focus on factors such as “increased susceptibility amongst young children following a lower level of circulation of adenovirus during the COVID-19 pandemic, the potential emergence of a novel adenovirus, as well as SARS-CoV-2 co-infection.”
What else could be at play here?
end
GLOBAL ISSUES
CANADA
Ottawa Launches Inquiry Into Use of Emergencies Act to Clear Convoy Protests
Inbox
| Milan Sabioncello | 10:58 PM (24 minutes ago) |  | |
| to me |
Ottawa Launches Inquiry Into Use of Emergencies Act to Clear Convoy Protests
end
Interesting
Inbox
| Milan Sabioncello | 7:20 AM (36 minutes ago) | | |
| to me |
end
if true this is dynamite!
link
Inbox
| Steve Organ | 4:54 PM (12 minutes ago) |  | |
| to me |
VACCINE MANDATES/
VACCINE INJURIES/
Cardiologist Says 30 Percent of Vaccinated Pilots Would Fail Health Screenings Due to Vaccine Injuries › American Greatness
Inbox
| Robert Hryniak | 5:46 PM (35 minutes ago) | | |
| to |
Wow!
Cardiologist Says 30 Percent of Vaccinated Pilots Would Fail Health Screenings Due to Vaccine Injuries
Debra HeineApril 21, 2022
Joshua Yoder, an airline pilot and co-founder of the U.S. Freedom Flyers said during an interview Wednesday that a cardiologist told him that if the airlines were conducting certain health screenings, 30 percent of the pilots currently flying would probably be disqualified due to vaccine-induced heart conditions.
Yoder told tech millionaire and Vaccine Safety Research Foundation founder Steve Kirsch that his group has received hundreds of reports about pilots flying planes while suffering from adverse side effects from the COVID vaccines.
The most prominent health issues being reported, the pilot noted, include chest pains, myocarditis, and pericarditis. Yoder said that three vaccinated pilot called him yesterday and said that they’re “currently flying with chest pains,” and another one said he is being treated by a cardiologist. He noted that the pilots want to remain anonymous because they don’t want to lose their jobs.
Yoder said the U.S. Freedom Flyers would like to find a solution for these pilots, and work with doctors, the Federal Aviation Administration (FAA), airlines, and unions to come up with a protocol so they have “some kind of immunity” that would allow the pilots to talk openly about what is happening to them.
The USFF formed last fall to help employees in the transportation industry oppose the federal laws surrounding vaccinations.
“I’m afraid if we keep going down this path, at some point it’s going to end in catastrophe,” he said.
“If passengers actually knew what was going on at the airlines and the FAA, they would be livid, and everyone would be jumping on a class action suit against all of them,” he said.
Yoder said that world renowned cardiologist Dr. Peter McCullough told him that if the pilots were regularly tested, a significant number of them would probably have to be grounded.
“He [McCullough] said that if every vaccinated pilot were to be screened, there would be somewhere around a 30 percent loss in manpower,” Yoder told Kirsch.
McCullough, along with Idaho pathologist Dr. Ryan Cole, Robert Kennedy Jr, Lt. Col Teresa Long M.D., Lt. Col. Peter Chambers D.O. and other experts signed letter to the Federal Aviation Administration and the major airlines on Dec. 15, 2021, urging them to flag all vaccinated pilots, and administer EKGs, D-dimer tests, troponin tests, and cardiac MRIs to assess their health.
The doctors warned that adverse events from vaccination could cause “a pilot (to lose) control of his aircraft” and lead to “untold devastation.”
As American Greatness reported on Wednesday, an American Airlines pilot recently suffered a cardiac arrest six minutes after landing his airbus at the Dallas-Fort Worth airport.
Captain Robert Snow nearly died when his heart stopped on April 9, according to Yoder. “They had to shock him three times with the AED [automated external defibrillator] to bring him back,” he said.
Yoder noted that Snow was taken to Baylor, Scott and White Health Center, which is only ten minutes from both American Airlines, and the union (the Allied Pilots Association), yet no one from the airline or union called Snow while he was in the hospital, or stopped by to visit him. The only thing the airline did was fly his family to the hospital to meet with him.
Snow called the U.S. Freedom Fliers for help, and the group assembled a “world-class” team of doctors and lawyers to assist him. Snow is now recuperating at home, Yoder said.
Yoder acknowledged that it is pretty clear that Snow’s cardiac arrest was caused by the Johnson and Johnson vaccine, but the pilot has been undergoing a series of tests to confirm it.
Yoder told Kirsch that the airline industry does not seem to want to deal with the potentially dangerous incident.
“American Airlines is trying to create as much distance between themselves and this incident as humanely possible,” he said. “So is the FAA, and so are the unions. We can’t even get a response.”
Yoder said that Snow would be speaking out soon, and when he does “you’re going to hear some very interesting details that are going to be very damning for American Airlines, the Allied Pilots Association, the FAA, and everyone else involved.”
Yoder also mentioned two other pilots who have bravely come forward to talk about their vaccine injuries.
Pilot Greg Pierson has spoken out against the COVID vaccines ever since he suffered a stroke after getting the jab under duress, last year. Pierson said during an interview last December that if he had had his stroke while piloting a plane, he could have caused a crash.
WATCH AND SHARE Brave Pilot Greg Pearson Speaks Out About The Dangers Of The #Vaccine #ClotShot #Booster #vaccineinjury #VaccineSideEffects #VaccineAdverseEffects #VaccineAdverseReaction pic.twitter.com/MficeyMOu0
— information Chaser
(@tsubject) December 31, 2021
Cody Flint was an agricultural pilot up until he was vaccinated in February of 2021. A couple of days after his jab, he suffered a mid-flight blackout, landing safely only “by the grace of God,” he says.
Flint was diagnosed with a neurological disorder that caused him to have severe headaches and vertigo.
Since then, his career has collapsed, he’s had multiple surgeries and countless doctor visits. And so far, nobody responsible for vaccine development or roll out has been willing to talk to him, or others like him.
About Debra Heine
Debra Heine is a conservative Catholic mom of six and longtime political pundit. She has written for several conservative news websites over the years, including Breitbart and PJ Media.
end
Pfizer Forced To Recall Another Product Due to ‘Increased Cancer Risk’ Just Days After CFO Resigned After News Vax Killing People – enVolve
Inbox
| Robert Hryniak | 5:18 PM (8 minutes ago) | | |
| to |
This company just cannot get out of harm’s way.
There has to be a better way to sanction pharmaceuticals.
Cheers
Robert
end
Evidence the Triple Vaxxed are developing AIDS | Principia Scientific Intl.
Inbox
| Robert Hryniak | 5:22 PM (4 minutes ago) | | |
| to |
You cannot help but wonder what the real purpose of these vaccinations has been all about.
There a legacy issues with these vaccinations that will haunt society for a very long time. And whatever the fallout is one can be sure no one really knows.
Cheers
Robert
end
Canadian Triple Vaxxed have higher Covid Death-Rate than Unvaxxed | Principia Scientific Intl.
Inbox
| Robert Hryniak | 5:26 PM (1 minute ago) | | |
| to |
We have no idea of what is happening behind the scenes with this craziness.
Cheers
Robert
/VACCINE IMPACT
Michael Every
Rabobank: US Is Seeking Escalation Into Permanent Economic War, And Russia Will Respond In Kind
TUESDAY, APR 26, 2022 – 11:00 AM
By Michael Every of Rabobank
Prognosis Positive or Negative?
Besides a bond-market rally (US yields down around 10bps across the curve), an inevitable ‘nothing-else-to-do-and-need-to-justify-my-job-so-buy-the-dip’ US stock rally, and China slowing down the fall in CNY and CNH with a policy tweak, there were other things of note yesterday. Indeed, in multiple dimensions, the outlook is now positive and yet equally negative.
Elon Musk is buying Twitter. Cue screenshots of former Clinton Labor Secretary Reich arguing, “We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can’t have both — Louis D. Brandeis”… overlooking that Clinton helped to lay many of the foundations in place today. Others’ tweets quote Reich saying it was fine for Twitter to ban former President Trump because it was a private company, juxtaposed with him bewailing a billionaire buying it because it limits public debate. Musk himself tweeted: “I hope that even my worst critics remain on Twitter, because that is what free speech means.” For those who don’t want to stay, and was the case for those who couldn’t stay before, where else is there to go – Trump’s ‘Truth’, which ironically him returning to Twitter undermines the future of? That remains a huge structural negative nobody has an issue with when their side is ‘winning’.
Will those anti-free speech now reembrace it or double down on censoriousness? Former President Obama recently said, “Disinformation is a threat to democracy” – and it is; so is censorship; and so is any state or private system to decide which stories are the former and require the latter. The only solution, logically and constitutionally (in the US), is free speech. Of course, Twitter won’t get any more civil ahead. There will be a broader range of voices available for people to ignore or troll. Psychologists suggest this is how we all really work, deep down, and social media companies recognize is where the money is made, up front – Twitter too, I would guess. And on civility, Google’s document editor will be introducing a new autocorrect function that offers warnings that vocab being used “may not be inclusive to all readers,” while suggesting users should consider using different words, offering politically-correct corrections. How long until they just autocorrect for you, and all Big Tech, ex-Twitter, do the same across platforms?
US Secretary of State Blinken and US Secretary of Defence Austin just met President Zelenskiy in Kyiv, which is quite the turnaround from 60 days ago, when the US was offering to airlift the latter out. Blinken now says President Putin has “failed”, which sounds positive; and Austin that US strategy is “to make Russia so weak it can’t invade another country again”. That is a statement with negative consequences.
As Von Clausewitz stated long ago, “War is a continuation of politics by other means.” In short, what are you trying to achieve? Putin lost his planned war when it became clear Ukrainians are not ‘Little Russians’: victory can now only be achieved by destroying Ukraine, not liberating it. Moscow’s ‘Nazi’ wrappings aside, that is irredentist imperialism that lets the genie out of the bottle. As such, there is no logical Western basis for a ‘realist’ foreign-policy argument to ‘let Russia be Russia’ in its ‘sphere of influence’; or at least not one that is compatible with the so-called ‘liberal world order’. It is either appeasement that doesn’t look at second-order effects (*cough* Germany *cough*), or a Melian dialogue that also doesn’t understand second-order effects (*cough* US isolationists *cough*). France is stepping up weapons supplies to Ukraine, it seems. (And President Macron was too busy to take President Biden’s congratulations call!)
However, what does the West want from their side if they can’t just rewind to 23 February? Historians will tell you that post-WW2 plans for Germany began as early as 1942. If, over 62 days, the US plan has shifted from ‘run away!’ to ‘weaken Russia so it can’t invade anyone else in the future’, then it sounds akin to the WW2 Morgenthau Plan for a defeated Nazi Germany – which was to turn it into a pastoral nation of farmers who could never bother the world again. When published in September 1944, it was used as part of German propaganda efforts in the final seven months of the war in Europe to help convince the public to fight on to the bitter end.
Austin’s public statement will likewise feed Russian paranoia about the West. There is no better way to swing all sections of Russian society behind the Kremlin, or to encourage Russia to escalate this conflict into areas where it feels the US might still decide blinking is a better strategy. Foreign Minister Lavrov just stated that rising military aid to Ukraine means NATO is “in essence engaged in war with Russia.”
True, maybe Austin was saying nothing new – but Lavrov did. One can argue that over time US and EU technology export controls are going to hamstring Russia and its military. (Yes, China could fill the gap – but then China would suffer sanctions next. And note this tweet from the IIF’s Robin Brooks from last week: “China chatter at IMF spring meetings: 1. The elephant in the room; 2. Risk of US sanctions seen as high; 3. Investors don’t want another “Russia mistake”; 4. Now lots of distrust of “stable” autocracies; 5. Shanghai lock-downs seen with dismay; 6. Investors don’t want any part of that.”)
Yet if we are to take Austin more literally, as Russia will, then the logical strategic step –as underlined on Twitter by experts from the IIF and the logistics industry– is to cut off Russian oil in a short, sharp shock. Specifically, by sanctioning key firms and oil-carrying vessels for two months, Russian oil flows would back up to the point where its wells would have to be capped – and restarting them would be incredibly difficult, if possible at all. That would prevent Russia from redirecting oil to Asia, while depriving it of a major slice of its export earnings. Russian oil would be taken off the map. Meanwhile, Russian gas to Asia would take years to come online on a scale (and price) to match what Europe buys now.
In short, this would be an escalation into permanent economic war – and Russia would respond in kind. (And Beijing will take note, as will others: on ANZAC day yesterday, Australia’s Defence Minister Dutton stated his country must “prepare for war“ – and has been backed by defence experts in doing so, while being pilloried by the opposition for not having done so.)
It would also be inflationary. Wars tend to be. Permanent wars more so. Against that backdrop, Bloomberg notes that negative-yielding bonds, which totaled $1.5 trillion last year, have disappeared from the market.
That’s a big structural change; one prompted by remarkable shifts in the geopolitical and geoeconomic environment; and those, in turn, were most obvious to those who read the most interesting, most-likely-to-be-banned people on Twitter. And there are lots more of them yet to come. Both the voices and the geopolitical and geoeconomic shifts.
So, positives and negatives.
Michael Every on the day’s most important topics
END
7. OIL ISSUES
Europe buys Abu Dhabi crude to replace Russian barrels of oil
(Kennedy //OilPrice.com)
Europe Buys Abu Dhabi Crude To Replace Russian Barrels
MONDAY, APR 25, 2022 – 10:20 PM
By Charles Kennedy of OilPrice.com
Abu Dhabi crude is preparing to make its way to Europe for the first time in two years as the European Union seeks replacements for Russian oil, Reuters reports.
In May 2020, a shipment of Abu Dhabi crude was loaded for Italy, and there have been so shipments since, according to Arab News, citing Refinitiv Eikon data.
According to Reuters, citing shipping reports, France Total Energies has “provisionally chartered a tanker” to load Abu Dhabi crude in early May, bound for Europe. A total of 1 million barrels of Murban crude–one of three Abu Dhabi grades–will be loaded provisionally, bound for Britain in the first week of May.
Arab News reports that three Abu Dhabi grades–Murban, Das and Upper Zakum–will be increasingly replacing Russian oil for Europe in the coming months.
This will divert some Abu Dhabi crude from Asia, but India has already been refraining from higher-priced Saudi and UAE crude and taking advantage of highly discounted Russian crude.
The European Union has been grappling with a decision to ban Russian oil, and Ukrainian President Volodymyr Zelensky has demanded that the bloc cease importing oil and gas from the Kremlin.
Supplies have become even more risky with the outbreak of a fire Monday at oil storage facilities in Bryansk, near Russia’s border with Ukraine, with Moscow claiming that the fire was the result of a Ukrainian missile strike.
The oil depot in question is dangerously close to the Druzhba pipeline, which feeds Russian crude into Europe. It remains unclear whether the pipeline, operated by Transneft, has been affected.
The Druzhba pipeline is responsible for transporting some one-fifth of Europe’s imports of Russian oil.
end
Poland Confirms Russia To Halt All Gas Delivery Wednesday If Payment Not Settled In Rubles
BY TYLER DURDEN
TUESDAY, APR 26, 2022 – 03:50 PM
Update(1550ET): The International Energy Agency (IEA) issued a statement of solidarity with Poland as Russia is poised to suspend all natural gas supplies to the country over Warsaw’s refusal to settle payments in Rubles, as President Putin previously demanded of “unfriendly countries” taking anti-Kremlin action amid the Ukraine conflict.
“Gazprom’s move to completely shut off gas supplies to Poland is yet another sign of Russia’s politicization of existing agreements and will only accelerate European efforts to move away from Russian energy supplies,” IEA executive director Fatih Birol said in a statement posted to social media.
This following on the heels of Polish Climate Minister Anna Moskwa, who oversees coordination of the country’s energy needs and response to changing conditions, asserting that Poland is well prepared for such a scenario of Russia cutting off the taps…
“Poland has the necessary gas reserves and sources of supply that protect our security – we have been effectively independent from Russia for years. Our warehouses are 76% full. There will be no shortage of gas in Polish homes,” she stressed. Meanwhile Gazprom has confirmed that by tomorrow the supplies will be halted, after already the Yamal-Europe pipeline reportedly stopped delivering, and also this…
GAZPROM TO HALT GAS SUPPLIES THROUGH BULGARIA APR 27: MINISTRY
* * *
Update(1340ET): Following initial reports from Poland’s largest news portal Onet that Russian natural gas delivery to Poland had been suspended, Gazprom denied that it had at this point stopped flows. However, it quickly said that it will halt gas deliveries starting tomorrow. But at this point gas from Russia is not flowing via the Yamal pipeline, disrupting delivery to Germany…
After the initial reports, which sent European gas princes exploding, Poland has confirmed that a suspension of gas is imminent if it doesn’t agree to pay in Rubles. Bloomberg is now reporting, “Poland’s main gas distributor PGNiG says it was informed by Gazprom that starting from Wednesday at CET0800 all deliveries of natural gas will be halted.”
And further, “PGNiG says will seek damages over breach of contract.” The news comes after a reported crisis meeting of Poland’s Climate Ministry. Now it appears some final decisions must be made amid the ultimatum from Moscow.
A flurry of breaking headlines…
- POLAND: GAS FROM RUSSIA IS NOT FLOWING VIA YAMAL TO GERMANY
- POLAND’S TOP ENERGY OFFICIAL NAIMSKI SPEAKS IN WARSAW
* * *
Update(1241ET): Gazprom has said it did not suspend natural gas flows to Poland, but issued an ultimatum stipulating that Poland must pay in Rubles “today” based on what was previously laid out by Putin, namely that “unfriendly countries” must now pay for its supplies in the Russian currency.
- GAZPROM SAYS IT HAS NOT SUSPENDED GAS SUPPLIES TO POLAND: RTRS
- GAZPROM: POLAND HAS TO PAY FOR GAS TODAY UNDER NEW RUBLE RULES
And meanwhile…
* * *
Update(11:42ET): And there it is – Reuters news wire is reporting that Russia halted natural gas supplies to Poland for Warsaw’s refusal to pay in Rubles and following repeat warnings from President Putin:
POLAND’S RUSSIAN GAS FLOW HALTED DUE TO NON-PAYMENT IN RUBLES – LOCAL MEDIA SOURCES
* * *
There are emerging reports that Russia has halted natural gas deliveries to Poland, albeit it initially remains unconfirmed by the Russian government at this point.
Bloomberg is citing the prominent Polish news portal Onet.pl to report Tuesday late afternoon (local time):
“Russia has halted gas deliveries to Poland under the Yamal contract, Onet.pl website reports citing Polish government sources it didn’t name.”
Markets are reacting immediately on the reports with European gas prices exploding 17% higher on the news…
Additionally, Bloomberg reports that Onet says it has also confirmed the news at PGNiG, Poland’s dominant gas company.
Poland’s Climate Ministry has reportedly called an emergency meeting to discuss the issue.
The report out of Polish national news indicates that formal government announcements are to be made later in the day, likely within hours…
Russia has suspended gas supplies to Poland under the Yamal contract, Onet has learned unofficially. A crisis team has gathered at the Ministry of Climate. There is no announcement from Russia as to whether this is the fulfillment of the ultimatum that Vladimir Putin recently threatened. Official announcements on this matter are to be released today.
A month ago as Poland took steps to wind down all Russian oil imports by end of the year, other European countries also began warning their populations on the need to conserve natural gas usage amid potential severe supply shortages.
Also potentially behind this reported halt in Russian gas is that on Monday for the first time Polish Prime Minister Mateusz Morawiecki confirmed that his country has sent tanks to Ukraine.:
“Yes,” Morawiecki said when asked if Poland had or would send tanks to Ukraine. He declined to reveal any further details including the number of tanks sent.
This follows in March Warsaw attempting to send MiG-29 jets to Ramstein Air Base for the US to deliver them to Kiev – something which the Pentagon rejected as premature and high risk.
Poland is also hosting US troops, who are lately engaged in training Ukrainian forces on advanced weaponry like drones. If these fresh reports of a gas shutoff to Poland are confirmed, it appears that Moscow has had enough.
end
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 TUESDAY morning 7:30 AM
Euro/USA 1.0685 DOWN .0027 /EUROPE BOURSES //ALL GREEN
USA/ YEN 127.55 DOWN 0.220 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…
GBP/USA 1.2698 DOWN 0.0039
Last night Shanghai COMPOSITE CLOSED DOWN 42.09 PTS OR 1.49%
Hang Sang CLOSED UP 65.69 PTS OR 0.94%
AUSTRALIA CLOSED DOWN 2.11% // EUROPEAN BOURSES OPENED ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES ALL GREEN
2/ CHINESE BOURSES / :Hang SANG CLOSED UP 65.69 PTS OR 0.94%
/SHANGHAI CLOSED DOWN 42.09 PTS OR 1.44%
Australia BOURSE CLOSED DOWN 2.11%
(Nikkei (Japan) CLOSED DOWN 109.33 PTS OR 0.41%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 1906.00
silver:$23.73
USA dollar index early TUESDAY morning: 101.92 UP 15 CENT(S) from MONDAY’s close.
THIS ENDS TUESDAY MORNING NUMBERS
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
And now your closing TUESDAY NUMBERS 1: 00 PM
Portuguese 10 year bond yield: 1.88% DOWN 0 in basis point(s) yield
JAPANESE BOND YIELD: +0.220% DOWN 1 AND 4/10 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 1.78%// DOWN 6 in basis points yield
ITALIAN 10 YR BOND YIELD 2.55 DOWN 4 points in basis points yield ./
GERMAN 10 YR BOND YIELD: FALLSTO +0.834% IN BASIS POINTS ON THE DAY//
THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.75% AND NOW ABOVE THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…
END
IMPORTANT CURRENCY CLOSES FOR TUESDAY
Closing currency crosses for TUESDAY /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0639 DOWN .0073 or 73 basis points
USA/Japan: 127.50 DOWN 0.275 OR YEN UP 28 basis points/
Great Britain/USA 1.2581 DOWN .0156 OR 156 BASIS POINTS
Canadian dollar DOWN 0.0079 OR 79 BASIS pts DOWN to 1.2817
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The USA/Yuan, CNY: closed ON SHORE (CLOSED ..DOWN 6.5565
THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)..6.5927
TURKISH LIRA: 14.79 EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.
the 10 yr Japanese bond yield at +0.220
Your closing 10 yr US bond yield DOWN 4 IN basis points from FRIDAY at 2.766% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield: 2.857 DOWN7 in basis points
Your closing USA dollar index, 102,36 UP 59 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 TUESDAY: 12:00 PM
London: CLOSED up 5.65PTS OR 0.08%
German Dax : CLOSED DOWN 167.77 POINTS OR 1.20%
Paris CAC CLOSED DOWN 34.81PTS OR 0.54%
Spain IBEX CLOSED DOWN 135.30 PTS OR 1.58%
Italian MIB: CLOSED DOWN 226.79 PTS OR 0.95%
WTI Oil price 101.70 12: EST
Brent Oil: 105.42 12:00 EST
USA /RUSSIAN /// RUBLE RISES TO: 73.52 down 0 4/10 RUBLES/DOLLAR
GERMAN 10 YR BOND YIELD; +.834
CLOSING NUMBERS: 4 PM
Euro vs USA: 1.0639 DOWN .0073 OR DOWN 73 BASIS POINTS
British Pound: 1.2581 DOWN .0156 or down 156 basis pts
USA dollar vs Japanese Yen: 127.50 DOWN 0.275//YEN UP 28 BASIS PTS
USA dollar vs Canadian dollar: 1.2816 UP .0079 (CDN dollar DOWN 79 basis pts)
West Texas intermediate oil: 101.70
Brent OIL: 105.42
USA 10 yr bond yield: 2.766 DOWN 6 points
USA 30 yr bond yield: 2.857 DOWN 4 pts
USA DOLLAR VS TURKISH LIRA: 14.79
USA DOLLAR VS RUSSIA///USA/ ROUBLE: 73.52 up 4/10 ROUBLES (ROUBLE down 4/10 ROUBLES/USA
DOW JONES INDUSTRIAL AVERAGE: DOWN 809.28 PTS OR 2.38%
NASDAQ 100 UP 523.51 PTS OR 3.87%
VOLATILITY INDEX: 32.89 UP 5.87 PTS (21.72%)
GLD: 177.07 UP 0.27 PTS OR 0.27%
SLV/ 21.65 DOWN .18 PTS OR 0.82
%
end)
USA trading day in Graph Form
yet more headlines today – by doing nothing today apart from tweeting this…
It appears someone decided he needed to be punished for daring to preserve free speech (oh the horror!) as TSLA shares tumbled over 11% today, raising questions from many on who was behind this move…
As Trey Henninger (@TreyHenninger) detailed, “If $TSLA stock hits $570, Elon Musk will be margin called on his Twitter purchase loan. If that occurs, he’ll have two business days to either pay the entire $12.5 billion margin loan, post $3.57 billion USD in CASH, or sell his $TSLAQ collateral shares. So, Soros has to short TSLA to 570 to kill the deal.”
TSLA’s tumble weighed heavily (given its weighting) on the major indices, with Nasdaq clubbed like a baby seal today, back below March’s lows (down 3.5% today)…Nasdaq’s worst day since Sept 2020
Erasing all of yesterday’s gains and then some…
The Nasdaq and Small Caps are now back below the March lows…
Source: Bloomberg
FANG+ stocks puked to their lowest since September 2020…
Source: Bloomberg
“Most Shorted” Stocks have erased all of the late-March gains and then some are now testing the spike lows from the day Putin invaded Ukraine…
Source: Bloomberg
It appears stocks are starting to converge down to the extreme hawkishness priced in to STIRs…
Source: Bloomberg
“Better get a bucket…”
But it wasn’t just stocks as Bitcoin was monkeyhammered back below $40k and below yesterday’s lows…
Source: Bloomberg
Gold fell back below $1900 today…
But Bonds & Black Gold were bid amid all the chaos.
Treasuries were bid across the curve today, led by the short-end (2Y-9bps, 30Y -3bps). Notice the pattern was similar today to yuesterday but lower magnitude on the post-EU close selloff…
Source: Bloomberg
WTI traded up, back above $100…
And the dollar just refuses to weaken…
Source: Bloomberg
Now surging to its highest against its fiat peers since May 2020…
Source: Bloomberg
Finally, will Alphabet or Microsoft’s earnings spark a squeeze into the 5/4 FOMC/Russia-Default-Deadline?
Source: Bloomberg
As Put volumes soar, stoking the fuel for a squeeze…
Source: Bloomberg
Or does The Fed need a crash to justify jawboning the extreme hawkishness back from the cliff’s edge?
The following is a big deal that few are paying attention to – the credit market is cracking…
Source: Bloomberg
(for now)…
END
I) /MORNING TRADING/LAST NIGHT/CHINA
AFTERNOON
END
II)USA data
-END-
IIB) USA COVID/VACCINE MANDATES
end
iiia) USA inflation//SHIPPING commentaries//LOG JAMS//
IIIB) USA ECONOMIC STORIES
END
iv)swamp stories
Latest Durham Filing Destroys Hillary And DNC Attempt To Block Documents Behind Russia Hoax
BY TYLER DURDEN
TUESDAY, APR 26, 2022 – 09:15 AM
Authored by Techno Fog via The Reactionary
Special Counsel John Durham just filed this motion in response to the efforts of Hillary for America, Fusion GPS, et al. to keep secret (by use of the attorney-client and work product privileges) communications involving Fusion GPS. You can read it here.
Durham states the “purported privilege holders who have intervened do so in a case in which the defendant has denied representing any client when he brought the Russian Bank-1 allegations to the FBI.” The privilege controversy thus entrapped Sussmann to a certain extent. Brilliant.
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Additionally, Durham casts doubt on the declaration of Marc Elias that Fusion GPS was retained to provide “legal advice.” Here he makes a key point:
”if rendering such advice was truly the intended purpose of Fusion GPS’s retention, one would also expect the investigative firm to seek permission and/or guidance from [Hillary for America] or its counsel before sharing such derogatory materials with the media or otherwise placing them into the public domain.”
In support of that point, Durham states he is in possession of “hundreds of emails in which Fusion GPS employees shared raw, unverified, and uncorroborated information – including their own draft research and work product – with reporters.” (He even filed them under seal with the court.) These include:
- Emails with Slate’s Franklin Foer from May 14, 2016 in which Fusion GPS conveys information on a Trump advisor and Alfa Bank.
- July 26, 2016 e-mails from Fusion GPS to the Wall Street Journal communicating allegations from Christopher Steele stating “a Trump advisor meeting with a former KGB official close to Putin … would be huge news.”
- July 29 and July 31, 2016 emails with a reporter (Washington Post’s Tom Hamburger) concerning Carter Page’s investments and meetings with Russians – of which the reporter said “Its bullshit.”
- July 27, 2016 e-mails between an ABC News reporter (Matthew Mosk) and Fusion GPS concerning Sergei Millian. Fusion GPS responded with a “comprehensive report” regarding Millian.
- Fusion GPS communications with NY Times reporters pushing more dirt on Millian.
- This e-mail from a Fusion GPS co-founder to the New York Times – dated October 31, 2016 – pushing the Alfa Bank allegations and stating the US Government is investigating.
Here are e-mails between Franklin Foer and Fusion GPS, in which they discuss going after Carter Page in May 2016.
Fusion GPS and Franklin Foer e-mails – in which Fusion GPS alleges Millian is “clearly KGB.”
Fusion GPS telling a WSJ reporter to call Adam Schiff or Diane Feinstein about Carter Page.
As Durham makes clear, no lawyers are copied in these e-mails and this doesn’t have anything to do with legal advice. And even if there were some type of privilege or work product, it was waived when Fusion GPS distributed the info to the press.
There are a number of other important observations. The Fusion GPS witness who will testify is the “tech maven” referenced in their e-mails with the New York Times. This appears to be confirmation that Laura Seago will be the Fusion GPS employee to testify.
Here’s more on the Fusion Witness:
Durham also destroys the declarations of John Podesta and Robby Mook on behalf of Hillary for America, stating Mook has stated Perkins Coie was to handle and oversee “international” opposition research. Mook also received “general updates concerning” these findings though he says he was unaware who had been specifically retained.
As to Joffe’s privilege arguments? They fail because “Perkins Coie hired Fusion GPS to assist HFA and the DNC, not [Joffe].”
Today’s filing follows a series of interesting developments disclosed in these last few days. On Friday, April 22, attorneys for Michael Sussmann filed this motion relating to evidentiary issues. I’ll spare you the long and boring legal arguments (your humble author favors brevity) and get to the good stuff: the Special Counsel has issued trial subpoenas to the Clinton Campaign and the Democratic National Committee.
The reason for calling the Clinton Campaign and DNC as trial witnesses is to get them to testify to their assertion of attorney-client privilege under oath. As you might recall, the Clinton Campaign, the DNC, Fusion GPS, Perkins Coie, and Rodney Joffe have all made appearances in this case in order to fight against the production of records to Durham. We reported on that story here, stating Durham requested the court require production of records that included “emails and attachments between and among” Perkins Coie, Rodney Joffe, and Fusion GPS.”
On behalf of the Clinton Campaign, Robby Mook (Hillary’s campaign manager) and John Podesta (the Clinton Campaign chair, who has already been interviewed by Durham) submitted declarations in support of the position that Fusion GPS was assisting with “legal services and legal advice to [Hillary for America].”
One would rightly assume, then, that those trial subpoenas were issued to Robby Mook and John Podesta.
Last Friday also saw this filing by Special Counsel Durham which also addressed evidentiary issues. It explained a “joint venture” starting in June 2016 by Rodney Joffe and his team of researchers to collect derogatory information on Trump and his associates. Durham described the goal of the joint venture to be: “to gather and disseminate derogatory non-public information regarding the internet activities of [Trump] and his associates.
This “joint venture” – what is also called a conspiracy – continued into August 2016, where:
Sussmann, Rodney Joffe, and “agents of the Clinton Campaign” met at the Perkins Coie office of Mark Elias where they discussed the same Alfa Bank allegations that Sussmann would give to the FBI. “The evidence will show that at the meeting, the parties agreed to conduct work in the hope that it would benefit the Clinton Campaign, namely, gathering and disseminating purportedly derogatory data regarding Trump and his associates’ internet activities.”
In furtherance of this scheme, Durham states the evidence (much of which is already public) will show:
- An August 12, 2016 meeting with a co-founder of Fusion GPS (Steele or Fritsch) with Sussmann, Elias, and Rodney Joffe. This meeting was billed to the Clinton Campaign.
- Joffe enlisted the CEO of an internet company to “mine and analyze vast amount of Internet traffic for any derogatory information he and his employees could find about Trump and his associates’ internet connections and online communications.” This included those already targeted by Fusion GPS.
- Joffe’s coordination with his team of researchers (including those at Georgia Tech – one of whom has immunity) to compile what is now known as the Alfa Bank hoax.
- Joffe’s continued meetings with Fusion GPS and Perkins Coie, in which he made clear his desire to make sure the “VIPs” at Perkins Coie and the Clinton Campaign would be “happy” with the project.
One final observation: DARPA and confidential data.
The Sussmann indictment mentions “non-public Internet data” that was exploited by Joffe, et al, for the purposes of their political hit-job. This information was provided to Georgia Tech as part of a prospective contract with DARPA to “identify the perpetrators of malicious cyber-attacks and protect U.S. national security.” (More details here.) After the indictment, it was revealed that Durham’s team has interviewed former DARPA employees.
Based on this information, we hinted that “there might be charges relating to the misuse of classified government data from DARPA.”
We now have confirmation that this contract included classified information.
Take a look at this e-mail (obtained by Twitter sleuth UndeadFOIA) in which Andrew DeFelippis, who is part of Special Counsel Durham’s team, in which he states that “DARPA has no objections to Georgia Tech’s provision of any records or information (both classified and unclassified) to our team and to the grand jury.”
Stay tuned…
The King Report (including swamp stories)
| The King Report April 26, 2022 Issue 6746 | Independent View of the News |
| China Lockdown Angst Rips Through Markets as Stocks, Yuan PlungeBenchmark CSI 300 Index falls to the lowest since April 2020Market falls as Beijing district limits movement, starts testsFears about the economic toll of China’s strict Covid Zero policy intensified Monday, as news that lockdowns were spreading to Beijing sent stocks, commodities and the yuan tumbling… https://www.yahoo.com/now/china-lockdown-fears-rip-markets-031502099.html Beijing: Virus spreading undetected in the city for one week Beijing’s Chaoyang district, home to some 3.5 million residents, will roll out three rounds of mass nucleic acid testing starting from Monday after the district registered the most COVID-19 cases in the capital’s latest epidemic surge…Since Friday, the total positive domestically transmitted COVID-19 tally in the capital surged to 42 cases, involving six districts in total… https://mp.weixin.qq.com/s/kYTBrsDgCymB4OQGK6KiQg China Unexpectedly Cuts FX Reserve Ratio to Support Plunging Yuan Financial institutions will need to hold 8% of their foreign exchange in reserve starting May 15, the central bank said in a statement Monday, down from than the current level of 9%… https://www.zerohedge.com/markets/china-unexpectedly-cuts-fx-reserve-ratio-reverse-yuan-carnage @sunchartist: Shenzhen Component Index -6.08%; Shanghai Composite -5.13%; Chi Next –5.56%; CSI 300 Real Estate -4.66%; CSI 300 Industrial -5.85%; CSI Steel index -6.76%; DCE Iron ore futures -10% ESMs sank during Asian trading on Monday. They hit a low of 4218.50, two minutes after Europe opened. Twenty-one minutes later, ESMs were at 4251.75. Someone tried to save ESMs and European stocks. After the early European rally, ESMs and stocks sank, getting back near the lows by 5 ET. Another rally developed on the conditioned buying for the NYSE open. This rally ended at 9:15 ET. Defensive asset allocators were in the market on Monday morning. ESMs hit +2 3/32 by 10:05 ET. ESMs tumbled to -59.50 at the time. Gold was down 2%; WTI Oil was -5.59; Copper was -14.50. The dollar was up sharply even though the yen was up 0.6% at the time! The yen largely because the yuan is tanking. The euro was -0.62%. Fear of a Beijing lockdown was palpable. After the 10:05 ET low, someone forced ESMs to 4249.25 (-18.00) by 10:35 ET. ESMs surged 41 handles in 15 minutes (from 10:23 ET to 10:37 ET). Was the equity rescue team operating? Was it Old World traders manipulating stuff higher to boost the marks on their stocks and derivatives for their close? ESMs tumbled 25 handles from 10:37 ET to 10:43 ET (6 minutes). By 11:01 ET, ESMs had lost 39 handles from the late morning rally high. Minutes after the European close, ESMs and stocks hit new lows. By 11:53 ET, ESMs had plunged to a session low of 4195.25, -56 handles from the 10:37 ET high. Bonds were +2 7/32. WTI oil hit -6.67; copper was -17.05. The euro was -0.77% at the European close. ESMs and stocks staged a Noon Balloon. By 12:15 ET, ESMs had rallied 26 handles. At 12:12 ET, Elon Mush tweeted out: “I hope that even my worst critics remain on Twitter, because that is what free speech means.” Traders assumed that the Twitter board had accepted Musk’s takeover bid. Musk, Twitter Deal to Be Valued at $44 Billion, Sources Say – WSJ 12:42 ET Deal to Be Announced After Market Close Monday if Not Sooner, Sources Say – WSJ By 14:37 ET, ESMs hit 4265.50, a 70.25 surge from the low. Twitter halted trading on ‘news pending’. At 14:51 ET, Bloomberg reported: Elon Musk to Buy Twitter for $54.20/Shr in Cash Twitter: Twitter will become a privately held co. Transaction Unanimously Approved by Twitter Board; Deal Expected to Close in 2022; Morgan Stanley Is Acting as Lead Fincl Advisor to Musk; Twitter won’t hold a corresponding earnings call (results due on April 28) Musk: ‘Free speech is bedrock of democracy’ Musk: Adding new features, open-source algorithm Musk vows to defeat spam bots, ‘authenticate all humans’ Entire Musk statement: https://twitter.com/elonmusk/status/1518677066325053441/photo/1 ESMs and stocks spurted higher on the acceptance of Musk’s takeover of Twitter. ESMs rallied 79.25 from the low! ESMs then tumbled 30 handles in 14 minutes. However, buyers returned; ESMs and stocks hit new daily highs by 15:25 ET. ESMs and stocks then inched higher into the close. Monday’s King Report: Ugly Thursday-Friday sequences tend to create ugly Mondays, at least in the morning. The afternoon surge after an ugly Thursday through Monday morning sequence appeared. This dynamic occurs regularly. “You can observe a lot by just watching.” – Yogi Berra Once again, ESMs tumbled on ugly Asian news, but rallied sharply in the US during the afternoon. Twitter Locks Down Product Changes After Agreeing to Musk Bid Making it harder for employees to make unauthorized changes, according to people familiar with the matter… https://www.msn.com/en-us/money/companies/twitter-locks-down-product-changes-after-agreeing-to-musk-bid/ar-AAWAqJ7 @MagnusMacro: The really fun part of this whole musk thing is the way everyone seems to think all of the other media and networks in the world don’t operate with severe bias and agenda. Liberals of all sizes and shapes were apoplectic about Musk taking over Twitter because it busts the liberal monopoly on information, censorship, and news. The furor speaks volumes about MSM fairness! Senator Warren Rips Elon Musk-Twitter Deal as ‘Dangerous’ (To whom?) https://www.breitbart.com/politics/2021/12/16/elon-musk-rips-senator-karen-elizabeth-warren-in-lengthy-online-spat/ Elon Musk Rips ‘Senator Karen’ Elizabeth Warren in Lengthy Online Spat 16 Dec 2021 Referring to Warren as “Senator Karen,”… and telling her to “stop projecting.”… “You remind me of when I was a kid and my friend’s angry Mom would just randomly yell at everyone for no reason,” he tweeted shortly after… https://www.breitbart.com/politics/2021/12/16/elon-musk-rips-senator-karen-elizabeth-warren-in-lengthy-online-spat/ @cspan: @PressSec on @elonmusk purchasing @twitter: “The president has long been concerned about the power of large social media platforms, the power they have over our everyday lives, has long argued that tech platforms must be held accountable for the harms they cause. (New lying high?) https://twitter.com/cspan/status/1518674945387155456 Psaki says the Biden administration would support “reforming Section 230, enacting anti-trust reforms,” and “requiring more transparency” on social media in order to combat COVID-19 misinformation https://t.co/O5OT8LL0Gz Bob Reich @RBReich: Musk & his apologists say if consumers don’t like what he does with Twitter, they can go elsewhere. But where else would consumers go to post short messages that can reach millions of people other than Twitter? The “free market” increasingly reflects the demands of big money. Robert Reich @RBReich: Trump is suing Facebook, Twitter, and Google for violating his 1st Amendment rights by keeping him off their platforms. Someone should remind him that they’re private companies to which the 1st Amendment doesn’t apply. Jul 7, 2021 @carriesheffield: Pew found “a small minority of users create the vast majority of tweets from U.S. adults, and 69% of these highly prolific tweeters are Democrats.” Not only are Twitter’s top users more likely to be Dems, they are liberal, not centrist Dems: https://pewresearch.org/politics/2020/10/15/differences-in-how-democrats-and-republicans-behave-on-twitter/ @NewsPolitics: With the Discovery team coming in “@CNN’s skeletons are starting to fall out” – One big one is “Upper mgmt (and Anchors) coordinated daily with Rep. Adam Schiff during Trump’s Impeachment(s)” They continue “This about 1000 miles outside journalistic ethics” /More to come. Positive aspects of previous session Bonds rallied sharply The DJTA turned positive by 13:09 ET because of the sharp decline in oil ESMs and stocks surged after getting crushed in the morning. Negative aspects of previous session Stocks and commodities got crushed in the morning Ambiguous aspects of previous session The dollar rallied sharply First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE open: Down; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 4265.57 Previous session High/Low: 4299.02; 4200.82 NYT: ‘It’s Life or Death’: The Mental Health Crisis Among U.S. Teens Depression, self-harm and suicide are rising among American adolescents. For M, a 13-year-old in Minnesota, the despair was almost too much to take…The decline in mental health among teenagers was intensified by the Covid pandemic…The crisis is often attributed to the rise of social media, but solid data on the issue is limited… Federal research shows that teenagers as a group are also getting less sleep and exercise and spending less in-person time with friends — all crucial for healthy development… A rise in loneliness is a key factor, experts said. Recent studies have shown that teenagers in the United States and worldwide increasingly report feeling lonely, even in a period when their internet use has exploded… “It’s not the same social connectedness we need and not the kind that prevents one from feeling lonely.” Often, she said, online social connections amount to seeing “pictures of people hanging out, flaunting it, as if to say, ‘Hey, I’m very socially connected,’ and ‘Hey, look at you by yourself.’”… The pandemic factor.. https://www.nytimes.com/2022/04/23/health/mental-health-crisis-teens.html @JosephPolitano: Fun fact: The Federal Reserve only had two users of the Municipal Liquidity Facility designed to help state & local governments borrow money during the pandemic. Illinois borrowed $3.2 Billion, and the New York MTA borrowed its maximum allowable amount, $3.35 Billion! @AFP: Russia’s Lavrov warns of ‘real’ danger of World War III Russian officials and stooges keep threatening nuclear war. This tells you how bad their situation is. Will the US and West be bluffed or blackmailed? Russian FM Lavrov: the risk of nuclear war is real, this danger should not be underestimated. Russian FM Lavrov: The real position of Kyiv is determined in Washington, London and other Western capitals, but Russia continues contacts with the Zelensky team…NATO, by supplying weapons to Ukraine, is essentially entering a proxy war with Russia. @PhilipWegmann: Biden tried calling Macron last night but couldn’t get through. “I spoke to his staff,” he said, but the French president “was at the Eiffel Tower having a good time.” (The no-respect prez) Today – How much buying power did the stupendous afternoon rally, aided by Twitter, appropriate from a Turnaround Tuesday to the upside? The biggest risk right now is a Beijing lockdown. The S&P 500 Index low on Monday was 4200.82. Obviously, 4200 is important support. The high was 4299.02. This is a huge range for one session. The S&P 500 Index closed at 4296.43. Part of the late rally on Monday afternoon was the usual suspects getting long for the commencement of uber-tech results. Microsoft and Google (Alphabet) report results after the close. ESMs are -4.50 and USMs are +10/32 at 20:15 ET. Expected earnings: PEP 1.23, CNC 1.69, UPS 2.88, DJT 3.39, GE .20, SHW 1.55, PCAR 1.54, RTX 1.02, ROP 3.68, ADM 1.41, VLO 1.66, GLW .50, MMM 2.31, GM 1.69, COP 5.46, MDLZ .75, CB 3.48, TXN 2.18, V1.66, MSFT 2.19, GOOGL 25.74 Expected economic data: March Durable Goods 1.0% m/m, ex-Trans 0.6%, Nondef Ex-Air 0.5%, Shipments 0.5%; Feb FHFA House Price Index 1.5% m/m; Feb S&P CoreLogic 20-city house prices 1.5% m/m, 19/2% y/y; Richmond Fed Mfg Activity 8; March New Home Sales -0.3% m/m S&P 500 Index 50-day MA: 4402; 100-day MA: 4507; 150-day MA: 4516; 200-day MA: 4496 DJIA 50-day MA: 34,221; 100-day MA: 34,871; 150-day MA: 35,008; 200-day MA: 35,014 S&P 500 Index – Trender trading model and MACD for key time frames Monthly: Trender is positive; MACD is negative – a close below 4153.02 triggers a sell signal Hourly: Trender 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 positive – a close below 4314.56 triggers a sell signal Subpoenas formally issued for evidence in Georgia ballot trafficking case Subpoenas ask election integrity group True the Vote and its researchers to turn over identities of ballot harvesters, John Doe whistleblower and suspected funding arms for 2020 ballot trafficking operation. https://justthenews.com/politics-policy/elections/subpoenas-formally-issued-evidence-georgia-ballot-trafficking-case @aaronjmate: The leaked 2014 call in which top US official Victoria Nuland selects the post-coup Ukraine gov’t is seldom discussed in US media, for obvious reasons: narrative inconvenience. When it does get a mention, it’s always interesting how loyal stenographers downplay it. Here’s NYT…Note how NYT makes zero mention of the most damning part: Nuland choosing the new Ukrainian gov’t. (“Yats is the guy”). Instead, the call is framed as Russia’s attempt to “stir up discord between the United States and Europe.” https://twitter.com/aaronjmate/status/1518378981988483072/photo/1 https://www.nytimes.com/2022/04/24/us/politics/russia-ukraine-diplomacy.html Here’s the part of the Nuland call that @jakesNYT @ewong @michaelcrowley omitted: Victoria Nuland (who they also declined to name) selecting the post-coup Ukrainian government (audio of phone call at link): https://twitter.com/aaronjmate/status/1518387336685436928 @BillFOXLA: Multiple sources confirm the body of missing TX National Guard soldier SPC. Bishop Evans was found this morning. He is presumed to have drowned after jumping into the Rio Grande to save two people crossing illegally in Eagle Pass on Friday. The MSM is ignoring the above story, and Biden hasn’t spoken about it, because the National Guard soldier drowned trying to save two illegals that were reportedly smuggling drugs. @townhallcom: Psaki is asked if the WH feels responsible for the death of Texas National Guardsman Bishop Evans: “The National Guard work for the states, so he is an employee of the Texas National Guard, and his efforts and his operation were directed by there, not by the federal government.” https://twitter.com/bonchieredstate/status/1518686696744923136?s=02 Number of police officers who died in the line of duty last year rose 59% (Where’s the outage?) FBI Director Christopher Wray said the pandemic, lax bail laws, more juveniles committing crime, and interstate gun trafficking are to blame for the rise…https://t.co/3TnqXxUwj5 |
Let us close today with this offering courtesy of Greg Hunter interviewing Clif High
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