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comex notices/

: JPMorgan stopped/total issued

EXCHANGE: COMEX

CONTRACT: APRIL 2022 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,901.400000000 USD
INTENT DATE: 04/26/2022 DELIVERY DATE: 04/28/2022
FIRM ORG FIRM NAME ISSUED STOPPED

132 C SG AMERICAS 4
435 H SCOTIA CAPITAL 1
657 C MORGAN STANLEY 1
661 C JP MORGAN 30 240
709 C BARCLAYS 2
732 C RBC CAP MARKETS 1
880 H CITIGROUP 219

TOTAL: 249 249
MONTH TO DATE: 26,878

NUMBER OF NOTICES FILED TODAY FOR APRIL. CONTRACT 249 NOTICE(S) FOR 24,900 OZ (0.7745 TONNES)

total notices so far: 26,878 contracts for 2,687,800.0 oz (83.601 tonnes)

SILVER NOTICES:

3 NOTICE(S) FILED 15,000 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 DOWN $15.35

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 1.74 TONNES FORM THE GLD/

INVENTORY RESTS AT 1099.49 TONNES

Silver//SLV

WITH NO SILVER AROUND AND SILVER DOWN 4 CENTS

AT THE SLV// A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: HUGE CHANGES MIL AT THE SLV//

A WITHDRAWAL OF 1.385 MILLION OZ FROM THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

CLOSING INVENTORY: 578.033 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A GIGANTIC SIZED 4774 CONTRACTS TO 145,538 AND FURTHER FROM THE NEW RECORD OF 244,710, SET FEB 25/2020 AND THE STRONG LOSS IN OI WAS ACCOMPLISHED WITH OUR STRONG $0.13 LOSS IN SILVER PRICING AT THE COMEX ON FRIDAY. OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.13) AND WERE SUCCESSFUL IN KNOCKING OUT SOME SILVER LONGS AS WE HAD A STRONG LOSS OF 1203 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 STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A STRONG INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 4.305 MILLION OZ FOLLOWED BY TODAY’S QUEUE. JUMP OF 15,000 OZ//NEW STANDING: 6.805,000 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 : —-333

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 18 days, total 21,154 contracts: 105.770 million oz OR 5.88 MILLION OZ PER DAY. (1175 CONTRACTS PER DAY)

TOTAL NO OF OZ UNDERGOING EFP TO LONDON 21,154 CONTRACTS X 5,000 PER CONTRACT:

EQUATES TO: 105.770 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: 105.770 MILLION OZ (LOOKS LIKE OUR BANKERS ARE NOW LOATHE TO ISSUE EFP’S)

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 4774 WITH OUR $0.13 LOSS IN SILVER PRICING AT THE COMEX// TUESDAY., WITH SOME OF THE LOSS DUE TO SILVER SPREADER LIQUIDATION TODAY. THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE CONTRACTS: 1203 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 15,000 OZ QUEUE JUMP//NEW STANDING: 6.805MILLION OZ/// .. WE HAD A HUGE SIZED LOSS OF 3571 OI CONTRACTS ON THE TWO EXCHANGES FOR 17.855 MILLION OZ ACCOMPANYING THE STRONG LOSS IN PRICE.

WE HAD 3 NOTICES FILED TODAY FOR 15,000 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 SMALL SIZED 90 CONTRACTS TO 557,785 AND CLOSER TO NEW RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: -137 CONTRACTS.

THE BIS HAS ABANDONED THE GOLD COMEX TRADING!!!

THE SMALL SIZED INCREASE IN COMEX OI CAME WITH OUR STRONG GAIN IN PRICE OF $7.60//COMEX GOLD TRADING/TUESDAY /.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 19,000 OZ//NEW STANDING 84.646 TONNES

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF $7.60 WITH RESPECT TO MONDAY’S TRADING

WE HAD A STRONG SIZED GAIN OF 5598 OI CONTRACTS (17.412 PAPER TONNES) ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 4689 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 557,785.

IN ESSENCE WE HAVE A STRONG SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 5598, WITH 909 CONTRACTS INCREASED AT THE COMEX AND 4689 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 5598 CONTRACTS OR 17.412 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A GOOD SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4689) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI (909,): TOTAL GAIN IN THE TWO EXCHANGES 5598 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 19,000 OZ QUEUE JUMP //NEW STANDING 84.646 TONNES/// 3) ZERO LONG LIQUIDATION //.,4) SMALL SIZED COMEX OI. GAIN 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 :

46,372 CONTRACTS OR 4,637,200 OR 144.23 TONNES 18 TRADING DAY(S) AND THUS AVERAGING: 2576 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 18 TRADING DAY(S) IN TONNES: 144.23 TONNES

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

THUS EFP TRANSFERS REPRESENTS 144.23/3550 x 100% TONNES 4.05% 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: 144.23 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 4774 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 1203 CONTRACTS

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

MAY 1203 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 4774 CONTRACTS AND ADD TO THE 1203 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A STRONG SIZED LOSS OF 3571 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES.

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 17.855 MILLION OZ

OCCURRED WITH OUR LOSS IN PRICE OF $0.13 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)WEDNESDAY MORNING// TUESDAY NIGHT

SHANGHAI CLOSED UP 71.86 PTS OR 2.49% //Hang Sang CLOSED UP 11.65 OR 0.06% /The Nikkei closed DOWN 313.45 PTS OR 1.17% //Australia’s all ordinaires CLOSED DOWN 0.75% /Chinese yuan (ONSHORE) closed DOWN 6.5531 /Oil UP TO 102.31 dollars per barrel for WTI and DOWN TO 105.43 for Brent. Stocks in Europe OPENED ALL GREEN // ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.5531 OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.5844: /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER//

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 ROSE BY A SMALL SIZED 909 CONTRACTS TO 557,785 AND CLOSER TO THE RECORD THAT WAS SET IN JANUARY/2020: {799,541 OI(SET JAN 16/2020)} AND PREVIOUS TO THAT: 797,110 (SET JAN 7/2020). AND THIS COMEX INCREASE OCCURRED DESPITE OUR GAIN OF $7.60 IN GOLD PRICING TUESDAY’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 GOOD SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS 4689 EFP CONTRACTS WERE ISSUED: ;: , . 0 JUNE :4689 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 4689 CONTRACTS

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

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 5598 CONTRACTS IN THAT 4689 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A SMALL SIZED COMEX OI GAIN OF 909 CONTRACTS..AND THIS SMALL GAIN OCCURRED DESPITE OUR STRONG GAIN IN PRICE OF GOLD $7.60.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR APRIL (84.646),

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: 84.646

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE //// (IT ROSE $7.60) AND WERE UNSUCCESSFUL IN FLEECING QUITE ANY LONGS AS WE HAVE REGISTERED A STRONG SIZED GAIN OF 17.412 TONNES ON TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR APRIL (84.646 TONNES)…

WE HAD 137 CONTRACTS REMOVED FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES 5598 CONTRACTS OR 559800 OZ OR 17.412TONNES

Estimated gold volume today: 173m074/// very poor

Confirmed volume yesterday:178,584contracts poor

INITIAL STANDINGS FOR APRIL ’22 COMEX GOLD //APRIL 27

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil oz
Withdrawals from Customer* Inventory in oz*	454.672 oz Brinks Int. Delaware 12 kilobars
Deposit to the Dealer* Inventory in oz*	32,215.302 OZ Brinks 1002 kilobars
Deposits to the Customer* Inventory, in oz*	96,388.698 oz JPMorgan Loomis includes 1000 kilobars
No of oz served (contracts) today	249 notice(s)24,900 OZ 0.7745 TONNES
No of oz to be served (notices)	336 contracts 33,600 oz 1.045 TONNES
Total monthly oz gold served (contracts) so far this month	26,878 notices 2,687,800 OZ 83.601 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 1

i) Into Brinks: 32,215.302 oz (1002 kilobars)

total dealer deposit 32,215,302 oz//

No dealer withdrawals

2 customer deposits

i) out of JPMorgan 64,237.698 oz

ii) Out of Loomis: 32,151.000 oz (1000 kilobars)

total customer withdrawals 96,388.698 oz

2 customer withdrawals:

i) Out of Brinks 68.86 oz

ii) Out of Int Delaware 385.812 oz (12 kilobars)

total withdrawal: 454.672 oz

ADJUSTMENTS: 2

first: dealer to customer JPMorgan 4,822.650 oz

second: customer to dealer Manfra: 22,074.350 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR APRIL.

For the front month of APRIL we have an oi of 585 contracts having LOST 671 contracts

We had 861 notices filed yesterday so we GAINED A WHOPPING 190 contracts or an additional 19,000 oz will stand for delivery at the comex ,

May saw a LOSS of 85 contracts to stand at 2451

June saw a LOSS of 1,547 contracts DOWN to 444,277 contracts

We had 249 notice(s) filed today for 24,900 oz FOR THE APRIL 2022 CONTRACT MONTH.

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 130 notices were issued from their client or customer account. The total of all issuance by all participants equate to 249 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 240 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 (26,878) x 100 oz , to which we add the difference between the open interest for the front month of (APRIL 585 CONTRACTS ) minus the number of notices served upon today 249 x 100 oz per contract equals 2,721,400 OZ OR 84.646 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 (26,878) x 100 oz+ (585) OI for the front month minus the number of notices served upon today (249} x 100 oz} which equals 2,721,400 oz standing OR 84.646 TONNES in this active delivery month of APRIL.

We GAINED 19,000 additional oz that will stand for delivery on this side of the pond

TOTAL COMEX GOLD STANDING: 84.646 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: 1,909,508.286 oz 59.39 tonnes

TOTAL REGISTERED AND ELIG GOLD AT THE COMEX: 35,877,859.418 OZ (1115,95 TONNES)

TOTAL ELIGIBLE GOLD: 18,436,833.465 OZ (573.46 tonnes)

TOTAL OF ALL REGISTERED GOLD: 17,441,025.943 OZ (542.48 tonnes)

REGISTERED GOLD THAT CAN BE SERVED UPON: 15,531,517.0 OZ (REG GOLD- PLEDGED GOLD) 483.09tonnes

END

APRIL 2022 CONTRACT MONTH//SILVER//APRIL 27

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	230,574.4 oz Brinks CNT Manfra
Deposits to the Dealer* Inventory*	nil OZ
Deposits to the Customer Inventory	Brinks Manfra 34,888.554 oz
No of oz served today (contracts)	3CONTRACT(S)15,000 OZ)
No of oz to be served (notices)	1 contracts (5,000 oz)
Total monthly oz silver served (contracts)	1350 contracts 6,800,000 oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

And now for the wild silver comex results

we had 0 deposit into the dealer

total dealer deposits: nil oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

We have 2 deposits into the customer account

i) Into Brinks: 5,101.00 oz

ii0 Into Manfra: 29,787.554

total deposit: 34,888.354 oz

JPMorgan has a total silver weight: 173.222 million oz/332.984 million =51.96% of comex

Comex withdrawals: 3

i) Out of CNT 100,743.900 oz

ii) Out of Brinks 100,743.90 oz

iii) Out of Manfra: 31,374.600 oz

total withdrawal 230,574.4 oz

3 adjustments: dealer to customer

CNT: 599,499.10 oz

jpmorgan; 371,991.600 oz

iii) Manfra: 373,373.400 oz

the silver comex is in stress!

TOTAL REGISTERED SILVER: 83.70 MILLION OZ

TOTAL REG + ELIG. 332.985 MILLION OZ

CALCULATION OF SILVER OZ STANDING FOR APRIL

silver open interest data:

FRONT MONTH OF APRIL OI: 4, HAVING LOST 11 CONTRACTS FROM TUESDAY. We had 14 notices filed yesterday,

so we GAINED 3 contracts or an additional 35,000 oz will stand on this side of the pond

MAY HAD A LOSS OF 7431 CONTRACTS DOWN TO 17,482 contracts

JUNE HAD A GAIN OF 64 TO STAND AT 1420

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 3 for 5,000 oz

Comex volumes: 75,398// est. volume today// very good/raid

Comex volume: confirmed yesterday: 79,954 contracts ( very good/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 1360 x 5,000 oz = 6,8–,000 oz

to which we add the difference between the open interest for the front month of APRIL (4) and the number of notices served upon today 3 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the APRIL./2021 contract month: 1360 (notices served so far) x 5000 oz + OI for front month of APRIL (4) – number of notices served upon today (3) x 5000 oz of silver standing for the APRIL contract month equates 6,805,000 oz. .

We GAINED 3 contracts or an additional 15,000 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 27/WITH GOLD DOWN $15.30//A HUGE CHANGE IN GOLD INVENTORY AT THE GLD; A WITHDRAWAL OF 1.74 TONNES FROM THE GLD////INVENTORY RESTS AT 1099.49 TONNES

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 1101.23 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 27/WITH SILVER DOWN 4 CENTS: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.385 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 578.033 MILLION OZ

APRIL 26/WITH SILVER DOWN 13 CENTS 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: 578.033 MILLION OZ//

PHYSICAL GOLD/SILVER STORIES

1.PETER SCHIFF

Peter Schiff: The Fed’s Ego Is The Only Thing Bigger Than This Bubble

WEDNESDAY, APR 27, 2022 – 03:20 PM

Via SchiffGold.com,

The Fed insists it can tighten monetary policy and tackle inflation without hurting the economy. Federal Reserve Chairman Jerome Powell and other central bankers claim the economy is strong enough to handle higher interest rates. Peter Schiff said this is just another in a long line of arrogant miscalculations by the Fed.

As the central bank begins to raise rates and gets set to shrink its balance sheet, some analysts worry that the Fed will make a mistake and tighten too much. But Peter said the Fed already made the mistake.

It’s not about the Fed might make a mistake. They’ve already made nothing but mistakes. The Fed has never done anything right. And because they made so many mistakes in the past, they’ve already doomed us in the future. It’s not about the mistakes they may make. It’s about the mistakes they’ve already made.”

And Peter said given all of the mistakes the central bankers have made in the past, it seems certain there will be more mistakes moving forward.

The mistake they’re going to make in the future is not tightening too much, but not tightening enough — bowing down to the political pressure once the economy really starts to tank and the markets are deep in bear-market territory. When the Fed takes its foot off the brake and slams it back on the gas, that’s when the economy is going over a cliff because inflation is going to run out of control.”

Peter pointed out the recent plunge in speculative stocks and said it was a function of the mistakes the Fed has already made.

2021 was peak insanity caused by the most reckless of all monetary policies by the Fed, which created the mother of all inflation. And now the Fed wants to try to put the genie back in the bottle. It doesn’t want to accept any responsibility for having allowed the genie out of the bottle. It wants to blame it all on Putin. It wants to blame it all on COVID. But it thinks it’s a simple task to undo the damage. All they’ve got to do is jack rates back up to 2.5, 3%, get there quickly, and because we have such a strong economy with a super-hot labor market, the Fed can do today what it never could do in the past because the economy now is so much stronger than it was in the past. Well, it’s not stronger. It’s just a bigger bubble.”

But the central bankers at the Fed don’t seem to understand that.

In fact, probably the only thing that’s bigger than this bubble is the egos of the FOMC members and how clueless they are about economic reality.”

The Fed has a horrible track record. Fed Chairman Jerome Powell has been wrong, wrong, and more wrong. But it’s not just Powell. The Fed has a long history of missing the mark.

In 2006 and 2007, the Fed insisted there was no problem in the housing market. When it became clear there was a problem, the central bankers said, “No worries, it’s contained to subprime.” When the financial markets crashed in 2008 and the Fed started quantitative easing, Ben Bernanke said the central bank was not monetizing the debt and that it would sell all of the bonds it was buying after the emergency was over. During the pandemic, they said printing trillions of dollars wouldn’t cause consumer prices to rise. When inflation reared its ugly head, they promised it was transitory. Now they’ve conceded it’s not transitory, but assure us they can fix it. They say they can raise rates without hurting the economy.

So, why should we believe them?

Peter said he thinks it’s “three strikes and you’re out.”

Strike one – subprime contained. Strike two – inflation is transitory. Strike three – we can raise interest rates. The economy is strong enough to withstand it.
I think all of the Fed’s credibility is going to be lost when that mistake is revealed.”
END

END

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

PAM AND RUSS MARTENS:

Global Megabanks Are Tanking – The Same Ones the Fed Bailed Out in 2019

By Pam Martens and Russ Martens: April 27, 2022

As long- term readers of Wall Street On Parade know well, we have regularly warned that the failure of Congress to meaningfully reform Wall Street by restoring the Glass- Steagall Act poses a national security threat to our nation in times of crisis.

Instead of meaningful reform, Congress has stood by and watched the Fed bail out the global banks repeatedly since 2008 – either with direct loans or by keeping interest rates artificially low (“administered rates”) or through trillions of dollars in asset purchases from the banks (what the Fed prefers to call Quantitative Easing).

The Fed’s balance sheet has ballooned from less than $1 trillion before the financial crisis in 2008 to $9 trillion today as a result of its willingness to perpetually bail out Wall Street. American taxpayers are on the hook for 98 percent of the Fed’s balance sheet and thus have a critical interest in demanding both transparency and accountability from the Fed.

In the fall of 2019 there was no war in Ukraine, there was no pandemic. But for still undisclosed reasons, the Fed decided to funnel trillions of dollars in cumulative repo loans to the trading units of U.S. megabanks and their foreign counterparties. The Fed’s repo loans stretched from September 17, 2019 through July 2, 2020. The Fed has begun releasing the names of the banks and the amounts they had borrowed on a quarterly basis, following a two-year lag. There has been an unprecedented mainstream media news blackout of this information.

As the chart below shows, the six largest borrowers in terms of cumulative repo loans from the Fed’s bailout program in the last quarter of 2019 were the trading units of Nomura, JPMorgan, Goldman Sachs, Barclays, Citigroup, and Deutsche Bank. (The trading unit of the French global bank, BNP Paribas, made it into the top six borrowers for the first quarter of 2020.)

Fed's
Repo Loans to Largest Borrowers, Q4 2019, Adjusted for Term
of Loan

Flash forward to the present. The U.S. is now dealing, simultaneously, with a pandemic, an illegal bombing campaign and invasion of Ukraine by Russia, soaring inflation at home, and the share prices of Wall Street and foreign global banks tanking.

As the two charts below indicate, the same Wall Street banks and their foreign derivative counterparties that the Fed was bailing out in the last quarter of 2019 and the first quarter of 2020 have experienced dramatic deterioration in their share prices year-to-date.

Year-to-Date
Price Performance of Megabanks

Year-to-Date
Price Performance of Foreign Global Banks

The Office of Financial Research (OFR) has warned since 2016 that the Fed was not paying proper attention to the systemic risk posed by global banks that were heavily interconnected via derivatives. OFR researchers, Jill Cetina, Mark Paddrik, and Sriram Rajan, produced a study in 2016 that illustrated how the Fed’s stress tests failed to capture the systemic risk. The problem, according to the researchers, is not what would happen if the largest counterparty to a specific bank failed but what would happen if that counterparty was also a major counterparty to other systemically important global banks.

The researchers wrote that the Fed’s stress test “looks exclusively at the direct loss concentration risk, and does not consider the ramifications of indirect losses that may come through a shared counterparty, who is systemically important.” The researchers explained:

“A BHC [bank holding company] may be able to manage the failure of its largest counterparty when other BHCs do not concurrently realize losses from the same counterparty’s failure. However, when a shared counterparty fails, banks may experience additional stress. The financial system is much more concentrated to (and firms’ risk management is less prepared for) the failure of the system’s largest counterparty. Thus, the impact of a material counterparty’s failure could affect the core banking system in a manner that CCAR [one of the Fed’s stress tests] may not fully capture.”

Based on the way these global, interconnected banks have been trading since the start of this year, it would appear that the Fed, and Congress, have failed to meaningfully address this critical problem.

-END-

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

As predicted: huge gold exports to the uSA and the UK due to the Russian oil for gold scheme

(Reuters/GATA)

Swiss gold exports to U.S. rocketed in March

Submitted by admin on Tue, 2022-04-26 11:15Section: Daily Dispatches

From Reuters
Tuesday, April 26, 2022

LONDON — Swiss shipments of gold to the United States surged in March to their highest since May 2020, Swiss customs data showed, as investors spooked by Russia’s invasion of Ukraine and the threat of a global economic slowdown stocked up on bullion.

Switzerland’s exports to Britain, which like the United States is a centre for gold investment and trading, also rose, while shipments of gold to China and India, the biggest consumer markets, fell sharply.

Switzerland is the biggest refining and transit centre for gold, an asset typically seen as a safe place to store wealth in times of economic and political turmoil. …

… For the remainder of the report:

https://www.reuters.com/business/swiss-gold-exports-united-states-rocketed-march-2022-04-26/

END

Craig Hemke at Sprott Money: Where are stocks and gold going?

Submitted by admin on Tue, 2022-04-26 21:38Section: Daily Dispatches

By Craig Hemke
Sprott Money, Toronto
Tuesday, April 26, 2022

Two weeks ago we wrote a post that warned against a pending drop in the stock market. Two weeks later, it’s probably a good idea to update that theme.

The post from two weeks ago mainly focused upon remarks from Fed goons Dudley and Bullard, and it followed a sort of “don’t fight the Fed” narrative. To wit, if the Fed is intent upon “inflicting more losses upon stock market investors,” you might want to take that into your investment considerations. Here’s the link:

https://www.sprottmoney.com/blog/Concern-For-Stonks-Craig-Hemke-April-12-2022

In the two weeks since, the U.S. stock market, as measured by the S&P 500, has begun to roll over. So today let’s assess where it may go from here and what impact this may have on future Fed policy and, by extension, precious metal prices. …

… For the remainder of the analysis:

https://www.sprottmoney.com/blog/Concern-For-Stonks-Pt-2-Craig-Hemke-April-26-2022

END

4.OTHER GOLD/SILVER COMMENTARIES

5.OTHER COMMODITIES PALM OIL

Palm Oil Jumps 10% To New Record As Indonesia Expands Export Ban

WEDNESDAY, APR 27, 2022 – 03:05 PM

Palm oil futures jumped 10% to a new record-high as Indonesia expanded its cooking oil export ban to include crude palm oil to ensure domestic supplies were stable, according to Bloomberg.

Indonesia, the world’s biggest cooking oil shipper, initially said the temporary export ban would only apply to refined, bleached, and deodorized palm olein. However, Coordinating Minister for Economic Affairs Airlangga Hartarto said the ban would be expanded to crude palm oil, RBD palm oil, and used cooking oil. The new export ban begins Thursday.

Indonesia’s export policy has sent the palm oil industry into a tailspin. Prices have been whipsawed, rising one moment as the lack of details from the initial statement had traders fearing that the ban would cover all products, then slumping the next as details emerged that the move would be restricted to certain refined goods. Futures rallied 10% just before the latest announcement.
It is another example of a policy flip-flop that has raised concerns about Indonesia’s business image. The country is a major commodities supplier and had imposed restrictions on nickel and coal exports in the past. Speculation about what Indonesia may do next keeps the industry constantly on its toes. -Bloomberg

The latest news sent Malaysian Crude Palm Oil futures soaring 10% to a new record high of 7,518 ringgit a ton.

The export ban is a form of food protectionism that will exacerbate the global food crisis. Indonesia’s decision to add palm oil and various forms of cooking oil to a temporary export ban is roiling the global $50 billion palm oil market. China, Pakistan, Bangladesh, and India are the top importers of Indonesia’s palm olein.

Indonesia’s government claims the temporary ban does not violate the World Trade Organization’s rules.

The original announcement of the ban shocked commodity traders worldwide last Friday. One trader said, “this news will certainly create mayhem.”

Even before Indonesia’s announcement, the Ukraine conflict caused massive disruptions to the global edible oil market. The Black Sea region accounts for 76% of world sunoil exports. Indonesia’s ban could send global food prices even higher.

Food protectionism is spreading worldwide, including in Argentina has raised export taxes on edible oils. Meanwhile, Moldova, Hungary, and Serbia have banned some grain exports. Russia is only exporting ag products to so-called ‘friendly’ countries.

Increasing food protectionism is another worry for importing countries (such as ones in the Middle East and Africa) dependent on others. It may spark shortages that could trigger social-economic turmoil. This is already happening in Peru and Sir Lanka.

In a Wednesday speech, Indonesian President Joko Widodo said that the edible oil export ban would be lifted once domestic demand was fulfilled. No timeline was given when that may occur.

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 WEDNESDAY morning 7:30 AM

ONSHORE YUAN: CLOSED DOWN 6.5537

OFFSHORE YUAN: 6.5846

HANG SANG CLOSED UP DOWN 11.65 PTS OR 0.06%

2. Nikkei closed UP 313.48PTS OR 1.17%

3. Europe stocks ALL GREEN

USA dollar INDEX UP TO 102.71/Euro FALLS TO 1.0591

3b Japan 10 YR bond yield: FALLS TO. +.244/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 127.99/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 DOWN /JAPANESE Yen DOWN CHINESE YUAN: UP -SHORE CLOSED DOWN// OFF- SHORE DOWN

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 +.0.814%/Italian 10 Yr bond yield FALLS to 2.59% /SPAIN 10 YR BOND YIELDFALLS TO 1.80%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.78: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3i Greek 10 year bond yield RISES TO : 3.07

3j Gold at $1899.45 silver at: 23.60 7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble UP 78/100 roubles/dollar; ROUBLE AT 72.76

3m oil into the 102 dollar handle for WTI and 105 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 127.99 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 .9651– as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0221well 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: 2.761 DOWN 1 BASIS PTS

USA 30 YR BOND YIELD: 2.859 DOWN 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 14.82

3. ASIAN AFFAIRS

i)TUESDAY MORNING// MONDAY NIGHT

3 a./NORTH KOREA/ SOUTH KOREA

///NORTH KOREA

END

3B JAPAN

end

3c CHINA

SHANGHAI//BEIJING COVID//LOCKDOWNS

CHINA/ECONOMY

This will hurt China’s economy: Foxconn’s factories shutdown threatens Apple’s supply chain

(Jung/EpochTimes)

Shutdown Of Foxconn’s Factories In China Threatens Apple’s Supply Chain

WEDNESDAY, APR 27, 2022 – 07:00 AM

Authored by Bryuan Jung via The Epoch Times,

Taiwan’s Foxconn Technology Group, the world’s largest electronics manufacturer and Apple’s main supplier, has again suspended operations at two of its factories in Kunshan, China, after the Chinese Communist Party (CCP) implemented strict quarantine rules in parts of the country to combat the spread of the Omicron variant of the virus in March.

On April 22, Kunshan reported 23 new CCP virus cases, up from single digits the week before.

Beijing’s new zero-COVID-19 policy mandates the enforcement of harsh quarantine measures, including the forced lockdown of entire communities affected by the virus, instead of a dependence on mass vaccinations.

Millions of residents in the region are currently under virtual lockdown or house arrest since the new wave hit in March, as the number of new cases per day has risen to more than 20,000.

Kunshan, a city of 2.1 million people in the eastern coastal province of Jiangsu, is 32 miles east of the major tech hub of Shanghai, which has been under severe lockdown for weeks.

The city is home to many factories run by several Taiwanese electronics companies.

Shenzhen, the Silicon Valley of China, put its 17.5 million residents under stringent quarantine, after the CCP’s zero-COVID declaration in March.

Southern Guangdong, another tech hub, also imposed a citywide lockdown the same month.

People wear masks to protect themselves from COVID-19, while listening to the annual general meeting at the lobby of Foxconn’s office in Taipei, Taiwan on June 23, 2020. (Ann Wang/Reuters)

The two Foxconn factories, located at Dianfa and Fuhong in the northern part of Kunshan, are two of four manufacturing campuses operated by the Taiwanese firm.

Foxconn first established its plant in Kunshan in 1993, after receiving permission to expand its operations to the Yangtze River Delta, which includes the major city of Shanghai, and the provinces of Jiangsu and the coastal province of Zhejiang.

Foxconn’s cumulative revenue from its factory in Kushan since 1993 has generated about $44.6 billion for the company.

All operations at the two plants have reportedly been on hold since April 20 at orders of the CCP authorities, after workers tested positive for the virus.

The tens of thousands of workers who live in the two Kunshan dormitories have been put under strict lockdown rules, according to local civil officials.

Foxconn was still able to continue operations in Shenzhen despite the lockdowns two days after it had halted operations there, by isolating its workers from the rest of society.

The company’s employees in Shenzhen were shuttled back and forth between the company-owned dormitories to the factory in order to avoid contact with non-workers from the outside world and taking regular COVID-19 tests.

The company’s “closed-loop system” was later deployed to its other manufacturing center in Dongguan.

The logo of Pegatron, which assembles electronics from Apple Inc’s iPhones, in Taipei, Taiwan on June 20, 2017. (Tyrone Siu/Reuters)

Early last week, CCP officials in Kunshan were confident enough to give permission for 60 companies to reopen their production facilities, with the local authorities expecting to ease travel restrictions and allow further manufacturing activities to resume.

The government in Kunshan, like other cities in the region, had earlier enforced a a citywide lockdown this month over the Omicron variant and a potential spillover of the virus from Shanghai.

However, the sudden halt of Foxconn’s factory operations in Kunshan last week took workers by surprise, a major blow for the company, which hoped that its innovative “closed-loop system” would enable it to continue operations.

In an April 25 interview with Al-Jazeera, Foxconn’s acting spokesman Jimmy Huang, said the company’s operations were continuing at the company’s main campus and that it was shifting production to other locations in an effort to alleviate the firm’s weakened supply chains.

“As production has previously been deployed to backup factories, the factory’s main products are located in overseas shipping warehouses and inventory levels are still sufficient, the impact on the company’s business is limited,” said Huang.

Apple was depending on Foxconn to make up for its supply of iPhones and iPads, after two of its other Taiwanese suppliers in Kunshan, Pegatron and Compal Electronics, had suspended their operations.

The American tech giant’s supply chain in China is now facing a major crisis, as most of its key electronics suppliers in Mainland China have stopped production for now.

The CCP’s zero-COVID-19 strategy is stoking fears that it will bring down the Chinese economy, and worsen the supply chain crisis and rising inflation.

Foreign investors have been pulling their money out of Chinese markets, with some $7 billion worth of foreign owned shares in China being extracted in March.

The Chinese economy has witnessed the worst hit since the start of the 2020 pandemic, with retail sales across China tumbling 2 percent in March, down 3.5 percent from a year ago.

The unemployment rate in China has gone up since the start of the current pandemic crisis, up 5.8 percent.

CHINA//USAGLOBAL SHIPPING

Irate China Tracks US Destroyer Through Taiwan Strait In 4th Transit This Year

WEDNESDAY, APR 27, 2022 – 07:25 AM

China has vented its anger after the United States sailed another warship through the Strait of Taiwan on Tuesday, accusing the US of seeking to undermine regional peace and security.

A statement from the PLA Eastern Command slammed the “provocative” naval activities, accusing the US yet again of sending “wrong signals to ‘Taiwan independence’ forces” – following the passage of the USS Sampson in what’s now a monthly patrol. “China is firmly opposed to this,” the PLA statement added.USS Sampson, Wiki Commons

The PLA further indicated that Chinese navy vessels followed and monitored the USS Sampson, adding that the event was “hyped up… publicly” by the US Navy. “The troops of the PLA Eastern Theatre Command always stay on high alert to resolutely defend China’s national sovereignty and territorial integrity,” it said.

It marks the fourth such US Navy warship passage of the strait this year, with 7th Fleet spokesman Lt. Nicholas Lingo calling it a “routine transit” based on freedom of navigation.

Prior US transits of the contested strait for this year include the following:

guided-missile destroyer USS Ralph Johnson on Feb.26
USS Ralph Johnson again on March 17
USS Dewey on Jan.26

“US Navy ships routinely use the Taiwan Strait to transit between the two and have done so for many years,” Lingo told Stars & Stripes, adding that it wasn’t in response to any particular event in response to Beijing dubbing it a “provocation”.

The military publication further underscored, “The USS Sampson continued a two-year-old Navy routine of sending a ship through the contentious, 110-mile-wide strait roughly once a month.”

From a PLA military exercise in the waters off Taiwan just days ago…

There have recently appeared greater tensions over the Taiwan question in light of Russia’s war on Ukraine. Earlier this month at a military forum and press briefing in Washington D.C., US Pacific Fleet Commander Admiral Samuel J Paparo said, “China is undoubtedly watching what’s happened in Ukraine, taking notes, and learning from it.”

“And there will be learning and there will be adjustments to the extent that they’re able to learn from it. And they will improve their capabilities based on what they learn at this time,” he added, strongly hinting that Beijing is poised to eventually make a move on the democratic-run island.

end

4/EUROPEAN AFFAIRS//UK AFFAIRS/EU

FINLAND/SWEDEN

Finland, Sweden Plan To Apply To Join NATO In May: Reports

WEDNESDAY, APR 27, 2022 – 02:00 AM

Authored by Dave DeCamp via AntiWar.com,

Finland and Sweden have agreed to both apply for NATO membership next month, local media outlets from the two Scandinavian countries reported on Monday.

According to the Finnish newspaper Iltalehti, Sweden suggested the two countries “indicate their willingness” to join the Western military alliance on the same day and Finland agreed “as long as the Swedish government has made its decision.”Getty Images

The Swedish newspaper Expressen later cited Swedish government sources who confirmed the Iltalehti report. Finnish Prime Minister Sanna Marin and her Swedish counterpart, Magdalena Andersson, are set to meet during the week of May 16 and are expected to announce their intention to seek a NATO membership after that.

However, following the reports Finland tried to reign in speculation on a specific timetable:

Finnish Foreign Minister Pekka Haavisto has said it would be “useful” for Sweden and Finland to launch joint Nato membership bids.
But he said that no fixed date had been set for any potential application.
The comments came as Nordic media reported the countries could launch a simultaneous bid to join the security bloc next month.

Earlier this month, Marin and Andersson met in Stockholm to discuss the possibility of joining NATO, a discussion prompted by Russia’s invasion of Ukraine. After the meeting, Marin said Finland would decide on whether to apply to join NATO in “weeks, not months”.

NATO Secretary-General Jens Stoltenberg has said he believes all 30 members of the military alliance would welcome Sweden and Finland. “If they decide to apply, I expect that all allies will welcome them,” Stoltenberg said in early April. “We know that they can easily join this alliance if they decide to apply.”

Separately on Monday, the Swedish newspaper Aftonbladet reported that Sweden had received promises from the US and Britain of an increased military presence in the region and “strong political support” from NATO members during the application process.Finnish and Swedish Prime Ministers, AFP via Getty Images

Sweden and Finland joining NATO would significantly increase tensions with Russia in the region as Moscow has warned it will bolster its forces along the over 800-mile border it shares with Finland. Former Russian President Dmitry Medvedev, who now serves as the deputy chairman of Russia’s Security Council, has hinted Russia could deploy nuclear and hypersonic missiles in response.

END

UK/THE WEST/RUSSIA

UK Backs Right Of Ukraine To Attack Russian Territory – Kremlin Warns London Of “Proportional Response”

WEDNESDAY, APR 27, 2022 – 05:45 AM

The UK’s armed forces minister said in a Tuesday radio interview that it is “completely legitimate” for Ukraine to strike Russian territory, after allegations out of the Kremlin earlier this month that the Ukrainians have on a couple of occasions done just that in cross-border incidents.

The defense chief, James Heappey, told Times Radio in the remarks that, “In war, Ukraine needs to strike into its opponents’ depth to attack its logistics lines, its fuel supplies, its ammunition depots, and that’s part of it.”Armed forces minister James Heappey, via Sky News

“It is completely legitimate for Ukraine to be targeting in Russia’s depth in order to disrupt the logistics, that if they weren’t disrupted would directly contribute to death and carnage on Ukrainian soil,” he added.

Even more provocative is that he addressed the issue of weapons systems provided by Britain thus far since the Russian invasion in February. He said of the weapons provided that they “have the range to be used over the borders” in Russia, and quickly followed by stressing: “That is not necessarily a problem.”

“Ukraine is targeting what I would say are completely legitimate targets to disrupt Russian logistics supplies, and they make those choices just as the Russians make choices to indiscriminately bomb Ukrainian towns and cities,” he emphasized further.

In the interview he also rejected the latest Kremlin charge out of the foreign ministry that NATO is currently waging a “proxy war” that could eventually lead to nuclear showdown if the West isn’t more restrained. Heappey assessed that chances of nuclear warfare were “vanishingly small” while denying the proxy war nature of the conflict.

Later in the day Moscow responded by warning of a “proportional response” in such a scenario of aggression laid out by Heappey…

“We would like to emphasize that London’s direct provoking of the Kiev regime for such actions, in the event that they are implemented, will lead to an immediate and proportional response by Russia”, the MoD said.

“As we have warned, the Russian Armed Forces are on round-the-clock standby to launch long-range precision-guided retaliatory strikes against the relevant decision-making centers in Kiev“, the ministry asserted, according to a state media translation.

Given the weekly and near-daily escalation in both rhetoric and the heavier and more sophisticated weapons that the West is willing to pour into the conflict, the rising concerns of a Russia-NATO collision course are indeed warranted. Commenting on reports that Germany has approved sending anti-aircraft tanks to Ukraine, journalist Glenn Greenwald questions…

“Virtually every week, Biden announces new massive aid of cash and weapons to Ukraine. Every week, US/NATO announce greater involvement that, weeks earlier, was deemed unthinkable. It’s a full-on proxy war. The risks are mind-boggling. What is being achieved that warrants this?“

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

RUSSIA/USA

Pentagon Blasts Russia’s Nuclear War Rhetoric & Charge Of Proxy War As “Dangerous”

TUESDAY, APR 26, 2022 – 10:00 PM

On Tuesday journalist Glenn Greenwald warned, “Whatever your views on the moral dimensions of this war, it’s hard to deny this is the most dangerous moment in US foreign policy in two decades. Every week, US/NATO involvement in the war intensifies, as Russia explicitly warns of nuclear war. For what?“

Russian Foreign Minister Sergey Lavrov on Monday in his most alarming comments yet on the Ukraine war warned there is now “considerable” risk of armed conflict spreading beyond Ukraine’s borders. He blasted NATO’s ramped up arms shipments to Kiev as part of its “proxy war” against Moscow, warning further that the possibility of a lead-up to nuclear war “should not be underestimated.”

“The risks now are considerable,” Lavrov said of the possibility for nuclear conflict, according to a Russian foreign ministry transcript. “The danger is serious, real. And we must not underestimate it,” he added. “NATO, in essence, is engaged in a war with Russia through a proxy and is arming that proxy. War means war.”

This kind of maximalist talk out of Moscow of the worst-case scenario appears to have completely undeterred Washington or its allies. Defense Secretary Lloyd Austin on the same day promised Ukraine’s government to “keep moving heaven and earth” to ensure its Ukrainian military has whatever it needs to take on the invading Russian forces.

“My Ukrainian friends: We know the burden that you all carry and we know, and you should know that all of us have your back,” Austin said.

And on Tuesday, responding specifically to the now widespread reports of Lavrov’s ‘nuclear warning’ – Austin called this talk “dangerous and unhelpful”. He further suggested it’s mere “bluster”:

“Rattling of sabers and dangerous rhetoric is clearly unhelpful and something that we won’t engage in,” Austin told reporters at Ramstein Air Base, Germany, after hosting the first of what what will become a regular meeting of allied and partner countries known now as the Ukraine Defense Consultative Group in support of the embattled former Soviet state.
“Any bluster about the possible use of nuclear weapons is dangerous and unhelpful,” Austin said later. “Nobody wants to see a nuclear war, and nobody can win that.”

The day prior the Pentagon chief had said the US wants to see a “weakened” Russia due to its Ukraine war. “We want to see Russia weakened to the degree that it can’t do the kinds of things that it has done in invading Ukraine,” Austin said at a news conference just after traveling to meet with Ukrainian President Volodymyr Zelensky in Kiev alongside Secretary of State Antony Blinken.

Meanwhile, Pentagon press secretary John Kirby was also asked about Lavrov’s nuclear rhetoric, responding that “It’s obviously unhelpful, not constructive, and certainly is not indicative of what a responsible [world power] ought to be doing in the public sphere.”

Kirby said further according to Reuters, “A nuclear war cannot be won and it shouldn’t be fought. There’s no reason for the current conflict in Ukraine to get to that level at all.”

Interestingly, it seems the Russian side would agree, and appeared to dabble in rhetoric of nuclear warnings as a way to stave off such a nuclear-armed showdown. But ominously, it seems both sides also agree they are inching toward this almost unimaginable scenario.

END

UKRAINE/RUSSIA/THE WEST

Russia Says It Destroyed “Large Batch” Of Western Weapons With Ship-Launched Missiles

WEDNESDAY, APR 27, 2022 – 12:25 PM

Russia’s Defense Ministry (MoD) announced Wednesday that its forces have taken out a large batch of weapons and ammunition that had been shipped to Kiev by outside Western countries.

Specifically, Russian warships launched Kalibr missiles from the Black Sea, targeting and destroying a military warehouse said to contain “a large batch of foreign weapons and ammunition, supplied by the US and European countries to the Ukrainian army,” according to the MoD statement. While not acknowledged by the Ukrainians or US, it comes after the Kremlin vowed to target Western arms transfers into the country.

The location was described in state media as being in the territory of the city of Zaporozhye, in southeast Ukraine near Dnieper River. This comes after Monday it was widely reported that Russia struck some five to six Ukrainian railroad facilities as part of efforts to disrupt foreign weapons transfers.

Russian state media is reporting that Wednesday’s long-range missile attack on foreign supplies targeted an aluminum warehouse which had been converted to a weapons depot.

The day prior Russia’s Foreign Minister Sergey Lavrov had warned: “These weapons will be a legitimate target for the Russian Armed Forces” – in a message aimed at both Kiev and its Western backers.

“Warehouses, including in the west of Ukraine, have become such a target more than once. How else could it be? NATO is essentially going to war with Russia through a proxy and arming that proxy. War means war,” he stressed.

A series of statements from Western officials, including from the State Dept. and Pentagon denied that Ukraine is scene of a current proxy war, instead stressing Russia’s aggression. However, countries like Germany and Poland have lately confirmed the authorized transfer of tanks and other heavy weaponry, which the Kremlin has declared as “legitimate targets” once they get inbound.

6// GLOBAL COVID ISSUES/VACCINE MANDATE/

Hospital CEOs & senior doctors, surgeons in US States, major US hospitals, what? What did you say? They were/are offered fake vaccine cards for NO vaccine? So no firing of you? If they say ‘NO’ jab?

Dr Paul Alexander!!

Dr. Paul AlexanderApr 25

205 75

Update (as of 3.22 am EST April 26th 2022): I have reached out to:

1)today, Senator Ron Johnson and his aids, outstanding as usual, he has replied promptly that he would assist with confidentiality and a discussion with the doctors, privately, in any manner that would allow for their comfort and assurances, so that means over to them and I communicated this to a main contact in this matter and he

2)replied late today that he got the message and will now broker it with the relevant doctors today/tomorrow; note, it is delicate and as you know, there is safety and career concerns so its a nudge nudge discussion and the like, for coming forward with this information is not easy and I applaud them, they are very brave and as they explained, its an issue of humanity and the psychopathy of what is taking place especially to those mandated the vaccines and are punished if they chose not to, for whatever reason; I will update as more is known and note, I already dealt with the best media outfit to handle this discretely and professionally.

End of update April 26th 2022, 3.27 am EST

—

This is bout the human condition, humanity, freedom of your own body and decisions. Whether these vaccines were effective and safe, which they are not, then we/I would still rail against them for they were never needed, were and are experimental, and violates our rights and freedoms. They should have never been mandated and only offered to high risk elderly, but again, IMO, these should have never ever been brought and IMO it is criminal to move to vaccinate our children who has near zero risk. It is very simple what I am sharing at this time. So much of what we are doing and what has happened is irrational, illogical, absurd, non-sensical, specious, reckless, and without any sound science.

Let me be simple: some senior doctors/CEOs in hospital (s) in various State (s) in US, have come forward to us advising that they decided to find us and come to us to say they are ready to talk. Scared about safety and careers will be destroyed. They were offered vaccine cards (fake) when they told their hospitals that they do not want the vaccine when they were mandated to take it, and the hospital leaders advised this will ensure they will not be suspended or fired. So you and I will ask, why? How come? Is it due to the lack of safety that these people know about? Or only to not fire these valuable doctors? We are told it may be country wide. So this is very very troubling.

Were told too valuable to the hospitals so offered/given fake cards. This is a real ongoing situation and this is being dealt with delicately by us for we want the doctors to come forward and they sought us out. So huge bravery by them. The rate limiting step so far is the proper forum and some cold feet (bullish one day, reticent the other) for people are scared for safety and careers. They do know there is risk but are willing as high level doctors/CEOs. But its delicate I know you would understand. But we are working on it for this is something the nation needs to know for the underlying reasons may be as disturbing and catastrophic. It could bring this vaccine mandate nightmare to a halt.

But what was shared so far is very disturbing. Is it that they/you know the vax is harmful? Is this the reason? CEOs and senior doctors know this and you, and so agree to give fake cards to ‘keep’ you on strength. To not suspend or fire, so fake cards. So they don’t want to have to suspend you as you are too valuable? Or do you and they know the vaccine is harmful and has huge risks? This is insane for shakes and takes down the entire vaccine mandate insanity. CEOs of major hospitals? Senior doctors, ER etc.?

This is the discussion I and others have been having with some doctors who have come forward, silently at this time, in fear of safety to them and families, and destruction of their name and careers. They are very scared for their safety but say it plain that this is a fight they are willing to wage now for it is destruction to humanity what is being done with the mandates. They do not agree and will share openly when they speak openly.

We are negotiating to have them speak openly and with a major news outfit we trust. In plain: they sought us out and told us that they are ready, scared but ready to break the news, that they refused as senior doctors to take the shot and the hospitals they are with in US, major states and outfits, leadership that includes senior doctors, agreed to give them fake cards so they don’t have to suspend. They refused and said ‘no’, they want proper religious or objection approved. No fake cards. They then put in, some of them, exemption requests and got them instantly. They are told its because the CEOs etc. are now scared they would spill the details.

But now they said they want to tell the US and world what is happening with these vaccine mandates when doctors and CEOs refuse for they think it is across the US. Not only the hospitals in their State (s) and group. They are so outraged that they were given this privilege while others, millions lost jobs and earnings and even lives who committed suicide due to the mandates etc. Our concern is they could get spooked, they want to talk but scared of the implications to their safety and families and their careers. They know it is likely over. They want to come out.

I just reached out to let them know a major media outlet will come to the meeting to see if they will allow this. We are to meet in person shortly. I will update as I know more but I cannot say the State (s) or the doctors and CEOs. I am prohibited by them as you would understand.

I told you before, I am committed to share truth. This is sharing 1 of 5 I want to share. To bring you the people into the discussion.

end

Severe hepatitis of ‘unknown origin’ in children being investigated in Canada

Unclear if reports linked to unexplained outbreak of more than 160 cases

Lauren Pelley· CBC News · Posted: Apr 26, 2022 5:52 PM ET | Last Updated: April 26

The U.S. has identified more than a dozen cases of unexplained hepatitis in children, with instances also occurring in Spain, Israel, Denmark, Ireland, Italy, Norway, France, Romania, Belgium and the Netherlands. (Shutterstock)

Public health officials say they’re investigating cases of severe liver disease “of unknown origin” among children in Canada as global scientists race to understand a mysterious hepatitis outbreak that has affected nearly 200 youths around the world.

“The Public Health Agency of Canada is aware of reports of severe acute hepatitis of unknown origin in young children in Canada,” the department said in a statement on Tuesday, in response to questions from CBC News.

“These are being investigated further to determine if they are related to cases in the United Kingdom and the United States. As the investigation evolves, we will keep the public updated accordingly.”

The latest available data from the World Health Organization (WHO) shows at least 169 cases of acute hepatitis of unknown origin have been reported in close to a dozen countries, with the bulk of the reports — 114 — from the U.K.

On Tuesday, the European Centre for Disease Prevention and Control (ECDC) released an even higher estimate of nearly 200 cases in children around the world.

The U.S. has identified more than a dozen cases across several states, with instances of unexplained hepatitis also occurring in Spain, Israel, Denmark, Ireland, Italy, Norway, France, Romania, Belgium and the Netherlands.

Roughly 10 per cent of the affected children have required liver transplants, WHO data shows, and at least one child has died.

Nausea, vomiting

It’s not yet clear if the Canadian cases are the same syndrome seen elsewhere, says liver disease specialist Dr. Jordan Feld, a senior scientist at the Toronto General Hospital Research Institute.

Affected children typically have gastrointestinal symptoms such as nausea, vomiting and diarrhea, he said.

“But then the more severe issue is that they’re developing jaundice … or found to have abnormal liver blood tests,” Feld said.

“At this stage, it would just be prudent if children have some of these symptoms, particularly if they seem to be more severe, that they’re seeking medical attention.”

Officials have not yet provided details on the total number of Canadian cases.

The cases reported worldwide have struck children from one month to 16 years old.

What’s perplexing, scientists tell CBC News, is what could be causing them.

“Certainly a viral infection is high on the list, but is definitely yet to be proven,” Feld said.

Virus detected

Various medical conditions and medications can cause hepatitis; so can heavy alcohol use or exposure to certain chemicals or drugs. But most often, inflammation or damage to the liver is caused by a virus.

However, the usual family of hepatitis viruses haven’t been identified in any of the cases tied to the current global outbreak, the WHO said.

WATCH | Mysterious liver disease strikes children:

Rare liver illness in children a ‘medical mystery,’ says specialist

22 hours ago

Duration5:47A liver illness affecting 169 children in the U.S. and Europe is, so far, a ‘medical mystery,’ says infectious disease specialist Dr. Isaac Bogoch, and it’s premature to attribute it to any one virus or cause. 5:47

An adenovirus was detected in at least 74 cases; a common group of viruses known for causing a wide range of health issues, from gastrointestinal upset, to bladder infections to the common cold.

In the U.K. officials recently observed a significant increase in adenovirus infections in the community following low levels of circulation earlier in the COVID-19 pandemic.

ECDC director Andrea Ammon told reporters that one theory suggests pandemic lockdowns may have weakened children’s immunity because they were less exposed to common pathogens while in isolation.

But it’s hardly definitive, given the different rates of testing for various viruses.

The virus behind COVID-19, SARS-CoV-2, was also identified in 20 cases of those that were tested — while 18 of the young patients with hepatitis were infected with both viruses.

In Israel, one of the physicians involved in treating child hepatitis cases suspects there may be a connection to COVID-19.

“After we ruled out all the various possibilities, the common denominator in all the cases we found was that all had come down with the coronavirus around three and a half months before the infection appeared,” Dr. Yael Mozer-Glassberg, head of the pediatric liver transplantation unit at Schneider Children’s Medical Center in Petah Tikva, told Israel media outlet Haaretz.

“This certainly raises the question. But I don’t think it’s possible to say yet that all these cases are a post-COVID phenomenon.”

The cause may wind up being linked to an adenovirus, or SARS-CoV-2, or some interaction between an environmental exposure and a virus, said Dr. Isaac Bogoch, an infectious diseases specialist with the University of Toronto.

“We are in the middle of a pandemic — but you cannot have what we call an ‘anchoring bias’ where we say it’s got to be COVID,” he said. “Certainly might be. But you’ve got to keep an open mind.”

Given the ages of the children impacted, Dr. Allison McGeer, an infectious disease specialist in the Sinai Health System in Toronto, said one potential cause that can be easily ruled out is COVID-19 vaccination. Most young children, she noted, aren’t yet able to get vaccinated.

Whatever the cause, scientists are on high alert for more reports of children falling ill.

“Any time we see severe hepatitis, particularly in young children, it’s alarming,” Feld said.

18,000 Waterloo region students need to be vaccinated against HPV, hep B after pandemic delays

ABOUT THE AUTHOR

Lauren Pelley

Senior Writer

Lauren Pelley is a Senior Writer for CBC News who covers health and medicine, including the COVID-19 pandemic. She’s based in Toronto. Contact her at: lauren.pelley@cbc.ca

@LaurenPelley

GLOBAL ISSUES//FOOD

Chronic Shortages Of A Few Items Now Will Evolve Into Chronic Shortages Of Hundreds Of Products Later In 2022

WEDNESDAY, APR 27, 2022 – 06:30 AM

Authored by Michael Snyder via TheMostImportantNews.com,

What we have witnessed so far is just the beginning of the story. The global response to the COVID pandemic during 2020 and 2021 created the most epic supply chain crisis in modern times, and now “black swan events” such as the war in Ukraine and the bird flu pandemic are making that supply chain crisis even worse. Unfortunately, more global difficulties are coming. There will be more war, there will be more pestilences, there will be more natural disasters, and even the United Nations is admitting that we are heading into the worst global food crisis since World War II. So if you think that global supply chain problems are severe now, just wait until you see what is coming next.

If you go into most major retailers today, you will notice that stock levels are lower than usual and there are some empty shelves.

But most items are still available most of the time, and that is good news.

Of course there are certain product categories that have been experiencing chronic shortages for an extended period of time. For example, supplies of canned pet food have been extremely tight for months on end…

The next time you go to the pet store don’t be surprised to see some empty shelves.
Many pet stores are facing a shortage on canned pet food.

Right now, there just aren’t enough cheap sources of chicken and turkey due to the bird flu pandemic, there is an ongoing shortage of aluminum, and there is a shortage of factory workers.

So the canned pet food shortage is not likely to be fixed any time soon.

Another shortage that is going to affect much of the country as we head into the summer months is the growing chlorine shortage.

I was not even aware of this shortage until a reader alerted me. Apparently this shortage was originally caused by the destruction of a manufacturing facility in Louisiana by Hurricane Laura…

While the pandemic takes its share of the blame, the even larger reason for the current chlorine shortage is that a major chlorine manufacturing plant in Louisiana was destroyed by Hurricane Laura in late 2020. A fire on the premises leveled the facilities and took nearly 40% of the country’s chlorine tablet supply with it.
The manufacturing plant is being rebuilt and is currently under construction; it was due to reopen by mid-to-late 2022, but those plans could be pushed back due to the ongoing construction material shortages.

I find it ironic that the nationwide chlorine shortage could be extended thanks to the nationwide construction material shortage.

Anyone that is trying to build a home knows how painful the construction material shortage has become, and I anticipate that it will only become more severe in 2023 and beyond.

Meanwhile, the nationwide baby formula shortage just continues to get even worse…

Janis Burnson is one of many parents having to work around a national baby formula shortage.
“Go around in our area, St. George, any stores I can, can’t find anything around here. I have friends in northern Utah, they’re having to send me stuff, so I’m having to pay even more,” she says.

One local reporter in southern Utah decided to check this out for herself, and when she visited local stores she discovered “bare shelves where baby formula should be.”

What a nightmare.

But at least we can be glad that things are not as bad here as they are in Europe.

Over there, widespread rationing of certain products has already begun. For example, it was just announced that Tesco is now limiting each customer to three bottles of cooking oil…

If record-high food prices weren’t enough. The Russia-Ukraine conflict has choked off the world of sunflower oil supply, forcing the largest supermarket in the UK to begin rationing.
The Guardian reports that Tesco, with more than 4,000 retail stores, placed buying limits of three cooking oil bottles per customer. It follows Waitrose and Morrisons, other supermarket chains that set limits of just two per customer.

This particular shortage is directly related to the war in Ukraine, and David Einhorn is warning that this war is making a whole host of our ongoing problems even worse…

The common refrain about COVID was that it sped up changes and trends that were already happening. We believe the same is true of the war. Inflation, supply chain problems, and shortages of energy, food, raw materials and labor were already issues that the war has now accelerated.

Sadly, he is quite correct, and at this point there appears to be no hope that this war will end any time soon.

Russia and Ukraine normally account for approximately 30 percent of all global wheat exports, and we were already facing an unprecedented global food crisis even before the war erupted.

When U.S. Senator Roger Marshall was recently asked about this, he openly admitted that a “worldwide famine” is definitely going to happen…

“Did you just say there will be a famine in Europe in the next two years?” Host Maria Bartiromo asked.
“This will be a worldwide famine. I think it will be even worse next year than this year. So if 12, 15% of the wheat comes from Ukraine that’s exported, and they’re having problems getting fertilizer, they’re having tractors in the field, all the diesel fuel is going towards their war efforts, right?” the senator said.

Prior to 2022, can you ever remember a time when a sitting member of the U.S. Senate publicly warned us that a “worldwide famine” was coming?

The good news is that nobody is starving to death in the United States right now.

But food prices are certainly going up dramatically, and the mainstream media is doing lots of stories about it. For example, the following originally comes from USA Today…

Kevin Tave stretches a pot of spaghetti for three days of meals. Esmerelda Cortez gets eggs and bread from the food bank so she can afford laundry detergent at the store. Donnie Whitfield buys generic cereal instead of the Kellogg’s he prefers.
Although unemployment continues dropping and wages are on the rise, all across the country, low-income people are struggling to put food on the table as skyrocketing inflation and high gas prices take a bigger bite of their already-small paychecks.

Needless to say, as conditions deteriorate it is not a good thing for Joe Biden’s approval ratings…

During Joe Biden’s fifth quarter in office, which began on January 20 and ended on April 19, an average of 41.3% of U.S. adults approved of the job he was doing as president. The latest average is essentially unchanged from the 41.7% in his fourth quarter but significantly lower than his first three quarterly averages.

But what most Americans don’t understand is that it is too late for a political solution to this crisis.

No matter what Joe Biden and his minions decide to do, they are not going to be able to prevent the nightmarish conditions which are rapidly approaching.

As Senator Marshall admitted, there will be a worldwide famine.

There is no avoiding that now.

These are such troubled times, and they are only going to become even more troubled as the months roll along.

* * *

/VACCINE IMPACT

Michael Every

Rabo: The Turning Point For Bretton Woods 3 Is The Second Half Of 2023

BY TYLER DURDEN

WEDNESDAY, APR 27, 2022 – 11:25 AM

By Michael Every of Rabobank

Regular readers may recall my recent discussion, and rebuttal of the concept of a ‘Bretton Woods 3’ (BW3) claim of a global shift to supplant the US dollar with a New World Order of commodity- and supply-chain backed alternative currencies. (Here is this link for those who missed it.)

To reiterate, the report concluded: BW3 won’t work if it means a shift to the Russian RUB, Chinese CNY, or a new New World Order FX asset. However, we *are* entering global mercantilism in which control of commodities and supply chains, and very expensive military power to do so, will be crucial. This will cause expensive problems for markets who think the world looks otherwise. Such a backdrop will benefit the US dollar, but will roil other assets. So far, that critique is ‘working’.

Stocks slumped again yesterday, even suddenly toothless FAANGs. Tesla went down three Twitters. The Nasdaq overall is now down 20% year-to-date (y-t-d). That’s dramatic enough maybe Netflix would like to make a film that nobody will watch about it.

Bond yields collapsed again, with a bull steepening of the US curve. That was despite a prominent market call that the Fed will keep hiking to the 5-6% level, causing a deep US recession in the process – which doesn’t match the front-end action at least. 12 months ago if you had called 0.5-0.6% for Fed Funds you would still have had some market credibility, because inflation was “transitory”. The market is also pricing in more than a 50% chance that by H2 2023 the Fed will be cutting rates – “because markets”. Yet meanwhile:

Malaysia is about to hike its minimum wage by 35%. Yes, it’s from a low level. Yes, it’s needed for social stability. No, that’s not how supply-side inflation will be brought under control, there or anywhere else.
Japan just flagged another supplementary budget with cash handouts to poorer families again aimed at combating high inflation, which for its public means 1.2% y/y headline and -0.7% excluding fresh food and energy(!) That extra deficit spending is via de facto printed money from the BOJ, which is also pegging 10-year JGB yields at 0.25% with unlimited bond purchases for yield curve control (YCC), while the country runs a trade deficit due to high commodity prices, and while it also expects the exchange rate to not collapse.
China, while caging its people in over Covid is itself caged in on its policy options. It is now going to build more airports and infrastructure for those citizens who probably won’t be able to go anywhere until the end of the year at best. That may boost GDP artificially, but it will also push up global commodity prices and inflation even further.

Commodities saw the World Bank say the Ukraine war will cause “the biggest price shock in 50 years.” With the UN food prices index at the highest since records began 60 years ago, the World Bank sees wheat increasing 43%, barley 33%, soybeans 20%, edible oils 30%, and chicken 42%: yet Indonesia’s palm oil export ban is ‘only’ 40% of its total, so some ‘relief’. In energy, oil was back over $100; Germany’s Economy Minister implied Berlin might back a Russian oil embargo after all; the US is seeing a squeeze in diesel far more extreme than in general oil prices; and European gas prices leaped 17% after Russia turned off supply to Poland and Bulgaria because they refuse to pay for it in RUB. Poland is prepared: other EU members aren’t.

In FX, the US dollar rules. The DXY dollar index is up 6.9% y-t-d at 102.3. Forget about the risk-off JPY rally yesterday, and 130 or 135 as psychological levels: if YCC and the FOMC –and commodities– don’t stop, JPY’s fall doesn’t either. EUR slumped to 1.0644 and -6.4% y-t-d. It can go far lower. CNY is 6.56 and CNH 6.59. Even Bloomberg is talking about 7, when I used to be the only one doing it. Yet this morning’s CNY fixing was a meaningless 8 pips weaker after the 681 pip hack-and-slash yesterday: somebody wants CNY going down at their pace, not the market’s, as usual.

In the economy, we saw what this all means in US housing: prices soar (+20% y/y) and sales collapse (new homes -8.2% m/m). Demand destruction? Yes. So, prices fall back? How, when the supply side keeps pushing inputs higher, and the tendency in many places is to stimulate? It looks more like the risk of stagflation than an imminent return to ‘new normal’ deflation, even if it is a mixed picture in terms of specific national responses.

The geopolitical backdrop will also drive risk off *and* inflation higher. Indeed, yesterday:

The market brushed aside (misreported) headlines about the threat of nuclear war(!) from Russian Foreign Minister Sergei Lavrov and the US Secretary of Defence. I would love to say it’s because of their deep knowledge of grand strategy, but it was due to their focus on the likes of Twitter and FAANGs, which of course matter *so much* more.
The UK said it had no problem if heavy weaponry it supplies to Ukraine is used to hit targets inside Russia; and Russia implied it has no problem reciprocating in kind – though whether that means attacks on Ukraine or the UK was left hanging.
Sweden and Finland moved even closer to near-term joint NATO entry.
A series of likely false-flag attacks in Russian-breakaway Transnistria prompted Moscow to threaten intervention there, causing serious concern in Moldova and the EU.
The broader Balkans continued to smoulder worryingly.
Australian PM Morrison declared a Chinese military base in the Solomon Islands would be a ‘red line’, with the US refusing to rule out the use of military force if this were to ever occur.
An ex-Iranian MP stated the obvious –to everyone outside circles on Twitter and DC– that Iran always intended to build a nuclear weapon. (“When we began our nuclear activity, our goal was indeed to build a bomb. There is no need to beat around the bush,” and the objective was pursued by “the entire regime.”). That is as the US recognizes a new nuclear deal is unlikely; and the White House fears Iran may rush for a nuke ‘within weeks’. Of course, the latter statement could be trying to force DC to accept further concessions to Tehran: but even if that does happen, it will be reversed by Congress in 2023 anyway.
The EU, following the US lead, tried to rapidly build economic and security bridges to India.
More concern over the looming catastrophe from Chinese lockdowns on global supply chains.

Meanwhile, aside from pointing fingers over who dropped the ball on China, the Solomon Islands, and defence, Australia today saw the last CPI print before their upcoming election: CPI rose 2.1% q/q vs. 1.7% expected, and 5.1% y/y vs. 4.6%. There were the usual other versions of CPI, and one of them (the weighted median yada-yada) was a tick lower than expected q/q. But does this all really mean anything for the RBA? To answer that question, allow me to share trolling Twitter wisdom from the ‘Reserve Bank of Property’:

“The Australian economy IS the property market”;
“We are doing everything we can possibly do to delay raising rates. It’s pretty clear”;
“Renters are renters because they are too scared to lie about how much they earn in a year. That’s why we leave them behind. They are weak.”; and
“We can offer Musk a $50 billion line of credit on the condition he invests it all on property in the premium blue chip heartland known as Western Sydney”

Under militaristic mercantilism, Australia has everything it needs to be a winner – except people in charge who understand that reality: they still live in a Bretton Woods 2 world of global harmony, endless property speculation, and cheap prawns on the barbie. That strategy is no longer working, for Aussies – or for broader markets.

By contrast, ‘Why Bretton Woods 3 Won’t Work’ *is* working. However, the turning point may be as we head towards H2 2023, with the Eurodollar curve pricing for cuts then. If central banks are going to cut rates, “because markets”, and think more monetary stimulus and asset bubbles is how you fight a geoeconomic mercantilist war with re-arming opponents trying to control commodities and supply chains, then it may be time to reassess.

If central banks do that AND governments stimulate, even as they are forced to run trade deficits with the New World Order, then even more so. Look at JPY today and imagine it was a US enemy, not ally.

Yet if central banks and governments line up monetary and fiscal policy *with* geoeconomics (i.e., friend-shoring, tariffs, capital controls, industrial policy, etc.) then what we see now is just the beginning. That *will* work, in a geopolitical sense – just not for many markets.

Michael Every on the day’s most important topics

END

7. OIL ISSUES

Four European gas buyers fold to Russian demands and will pay for gas in roubles

(zerohedge)

Four European Gas Buyers Fold To Russian Demands, Pay For Gas In Rubles

WEDNESDAY, APR 27, 2022 – 06:31 AM

It appears that Putin’s gambit is working.

One day after Russia halted natgas supplies to Poland and Bulgaria due to “nonpayment in rubles”, confirming that the country is willing to go ahead with its bluff and shut down supplies to “unfriendly” nations and sending European nat gas prices soaring, Bloomberg reports citing a person close to Russian gas giant Gazprom, that already Europe’s fake united front is cracking as four European gas buyers have already paid for supplies in rubles as Russia demanded even as further cutoffs if others refuse the Kremlin’s requirement aren’t likely until the second half of May, when the next payments are due.

While it was unclear which are the four companies violating EU directives and paying directly in rubles, according to Reuters Germany’ Uniper and Austrian OMV are among the companies that have folded to Kremlin’ demands:

GERMAN UNIPER CO SAYS PAYMENT SCHEME FOR RUSSIAN GAS IN RUBLES DOES NOT CONTRADICT THE SANCTIONS AND IT IS POSSIBLE TO PAY IN RUBLES – OFFICIAL
AUSTRIA AND THE AUSTRIAN OMV HAS ACCEPTED THE TERMS OF PAYMENT FOR RUSSIAN GAS IN RUBLES – AUSTRIAN CHANCELLOR

Pro-Russian EU member Hungary, meanwhile, has struck a deal to pay into a euro-denominated account with Gazprombank, which in turn will deposit the amount in roubles to Gazprom Export, foreign minister Peter Szijjarto said in a video posted to Facebook. Its next payment is due on May 22, he said. Slovakia has reached the same agreement, he added as more of Europe realizes that it is impossible to live without Russian energy sources.

Separately, to facilitate their compliance with Russian demands (and ostensibly in breach of European sanctions), ten European companies have already opened the accounts at Gazprombank needed to meet President Vladimir Putin’s payment demands, the person said, speaking on condition of anonymity to discuss confidential matters.

As we reported yesterday, Russia halted gat supplies to Poland and Bulgaria on Wednesday after they refused Gazprom’s proposed mechanism for ruble payments, which the gas giant says does not violate European Union sanctions. Russia supplies gas via pipelines to 23 European countries. Moscow demanded that it be paid in rubles for nat gas shipments after the EU imposed sanctions on Russia over its invasion of Ukraine. However, the EU told member states that the mechanism the Kremlin proposed, which required opening euro and ruble accounts with state-controlled Gazprombank, would violate the sanctions. It appears that to at least 10 energy companies, complying with Russian demands to keep the gas flowing is more important than potentially pissing off some Eurocrats.

According to the FT, Gazprom Export notified Bulgargaz and PGNiG of the suspension of gas supplies from April 27 until payment is made in accordance with the decreed procedure, the company said. It warned that the unauthorised withdrawal of gas volumes transiting through Poland and Bulgaria to other European countries such as Germany would result in a reduction of transit supplies.

“Bulgaria and Poland are transit states,” Gazprom said. “In the event of unauthorized withdrawal of Russian gas from transit volumes to third countries, supplies for transit will be reduced by this volume.”

In response to the “unexpected” supply halts, which infuriated EU president Ursula von der Leyen, who today tweeted that “Gazprom’s announcement is another attempt by Russia to blackmail us with gas” adding that Europe is “prepared for this scenario” although judging by the scramble by several energy companies to pay in rubles that is not really true…

… European gas prices rose by 20% on Wednesday. Futures contracts tracking Europe’s wholesale gas price advanced almost by a fifth at €117 per megawatt hour in early trading. Prices are almost seven times higher than a year ago.

“Gazprom has completely suspended gas supplies to Bulgargaz (Bulgaria) and PGNiG (Poland) due to non-payment in roubles,” Gazprom said in a statement on Wednesday.

While we already know that at least a handful of European energy buyers folded to Russian demands, multiple European buyers have refused to pay in roubles (for now), saying it contradicted contract terms and would be a way to bypass EU sanctions on the Russian central bank.

“Politically, this raises the stakes for the EU Commission’s decision on whether the new payment system would violate sanctions and, hence, will probably keep market volatility elevated,” said Goldman Sachs analyst Samantha Dart in a note to clients. She also added that it is Goldman’s “view that it is in the interest of both the EU and Russia to work out a solution that brings gas payments in compliance with the EU’s legal requirements, consistent with recent comments from Brussels.”

Today’s events can work as an added incentive for the EU, and especially Germany, to find a way to work out a RUB payment mechanism given the significant economic toll a halt in gas flows would have in the region, which would be much greater than that of Poland or Bulgaria.

Well, it appears that in lieu of a political resolution, at least some companies are taking matters into their own hands, a development which will either escalate tensions further and lead to even more draconian measures, as the following Reuters quotes suggests:

WESTERN OFFICIALS SAY RUSSIA DECISION TO HALT GAS TO POLAND, BULGARIA IS LIKELY TO BE COUNTERPRODUCTIVE AS IT DEMONSTRATES WHY DEPENDENCE ON RUSSIA MAKES COUNTRIES VULNERABLE TO COERCION

… or force Europe to realize that full sanctions of Russian energy are impossible and force politicians to find loopholes, as this next Reuters headline signals:

EU WILL TEMPORARILY INCREASE GAS PURCHASES FROM THE RUSSIAN FEDERATION THROUGH COUNTRIES READY TO PAY IN RUBLES TO COMPENSATE FOR THE CESSATION OF SUPPLIES TO POLAND AND BULGARIA – TASS SOURCE

To be sure, in a worst case scenario, Goldman warns that “a full interruption of Russian flows to Germany would potentially lift European gas prices to over 200 EUR/MWh this summer.”

Given all of this, it appears the Ruble is no longer “rubble” after all, trading at 6-month highs versus the dollar…

And near two-year highs against the euro…

Just remember, Janet Yellen said this was all manipulation and told you that “you should not infer anything” from the value of the ruble

8 EMERGING MARKET& AUSTRALIA ISSUES

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

BRAZIL

Bolsonaro asks the World trade Organization not to sever Russian trade as 27 ships are inbound to Brazil

(zerohedge)

Bolsonaro Asks WTO Not To Sever Russian Trade As 27 Fertilizer Ships Inbound

TUESDAY, APR 26, 2022 – 06:00 PM

The latest example of G-20 countries not bowing down to US pressure to halt trade relations with Russia comes from South America.

On Tuesday, in response to the World Trade Organization’s (WTO) Director-General Ngozi Okonjo-Iweala’s request for Brazil to increase more food exports, Brazilian President Jair Bolsonaro asked the WTO not to sever trade flows with Russia. He said there are 27 Russian vessels hauling fertilizer to Brazil.

Now, why would Bolsonaro go against the wishes of the US and EU politicians to eliminate trade with Russia?

Well, the South American country imports more than 85% of its fertilizer demand. Russia is its top supplier, and Belarus provides 28% of the total.

Restraining fertilizer consumption would be absolutely disastrous, crush harvest yields, and threaten the world’s food security. The country is a top exporter of coffee, sugar, soybeans, manioc, rice, maize, cotton, edible beans, and wheat.

This is more evidence that G-20 countries, such as Brazil, India, and China, widely known as BRICs, disregard US pressure to halt trade with Russia. Many of these countries are dependent on Russia and Belarus for commodities. In one chart, here is Russia’s commodity reach:

Defiant G-20 countries imply the old economic order, in which the dollar’s centrality to global trade remains king, is fading. Numerous countries are already trading outside the dollar system (see & here) because Western sanctions isolated Russian banks from the SWIFT payment system. This has given rise to commodity-based currencies.

It remains to be seen if South American traders will use a Brazilian real-Russian ruble payment system for the fertilizer purchases.

END

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

Euro/USA 1.0591 DOWN .0052 /EUROPE BOURSES //ALL GREEN

USA/ YEN 127.99 UP 0.718 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.2575 DOWN 0.0006

Last night Shanghai COMPOSITE CLOSED UP 71.86 PTS OR 2.49%

Hang Sang CLOSED UP 11.65 PTS OR 0.06%

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 11.65 PTS OR 0.06%

/SHANGHAI CLOSED DOWN 71,86 PTS OR 2.49%

Australia BOURSE CLOSED DOWN 0.75%

(Nikkei (Japan) CLOSED DOWN 313.48 PTS OR 1.17%

INDIA’S SENSEX IN THE RED

Gold very early morning trading: 1900.00

silver:$23.64

USA dollar index early WEDNESDAY morning: 102.71 UP 39 CENT(S) from TUESDAY’s close.

THIS ENDS WEDNESDAY MORNING NUMBERS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing WEDNESDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 1.84% DOWN 3 in basis point(s) yield

JAPANESE BOND YIELD: +0.221% UP 1 AND 1/10 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 1.79%// UP 1 in basis points yield

ITALIAN 10 YR BOND YIELD 2.57 UP 2 points in basis points yield ./

GERMAN 10 YR BOND YIELD: FALLSTO +0.805% IN BASIS POINTS ON THE DAY//

THE IMPORTANT SPREAD BETWEEN ITALIAN 10 YR BOND AND GERMAN 10 YEAR BOND IS 1.76% AND NOW ABOVE THE 3.00% LEVEL WHICH WILL IMPLODE THE ENTIRE ITALIAN BANKING SYSTEM. AT 4% SPREAD THERE WILL BE A HUGE BANK RUN…

END

IMPORTANT CURRENCY CLOSES FOR WEDNESDAY

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

Euro/USA 1.0553 DOWN .0039 or 39 basis points

USA/Japan: 128.54UP 1.275 OR YEN DOWN 127 basis points/

Great Britain/USA 1.2535 DOWN OR 48 BASIS POINTS

Canadian dollar DOWN 0.0031 OR 31 BASIS pts DOWN to 1.2837

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed ON SHORE (CLOSED ..DOWN 6.5613

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)..6.5898

TURKISH LIRA: 14.82 EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.

the 10 yr Japanese bond yield at +0.221

Your closing 10 yr US bond yield DOWN 4 IN basis points from TUESDAY at 2.799% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield: 2.905 UP 4 in basis points

Your closing USA dollar index, 103.07 UP 76 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 WEDNESDAY: 12:00 PM

London: CLOSED UP 53.16PTS OR 0.08%

German Dax : CLOSED UP 4.03 POINTS OR 0.03%

Paris CAC CLOSED UP 15.15PTS OR 0.24%

Spain IBEX CLOSED UP 42.20 PTS OR 0.50%

Italian MIB: CLOSED UP 106.88 PTS OR 0.45%

WTI Oil price 101.02 12: EST

Brent Oil: 104.47 12:00 EST

USA /RUSSIAN /// RUBLE RISES TO: 72.79 UP 0 72/100 RUBLES/DOLLAR

GERMAN 10 YR BOND YIELD; +.805

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0559 DOWN .0083 OR DOWN 83 BASIS POINTS

British Pound: 1.2542 DOWN .0039 or down 39 basis pts

USA dollar vs Japanese Yen: 128.37 UP 1.109//YEN DOWN 110 BASIS PTS

USA dollar vs Canadian dollar: 1.2825 UP .0019 (CDN dollar DOWN 19 basis pts)

West Texas intermediate oil: 102.05

Brent OIL: 105.27

USA 10 yr bond yield: 2.824 UP 5 points

USA 30 yr bond yield: 2.910 UP 4 pts

USA DOLLAR VS TURKISH LIRA: 14.81

USA DOLLAR VS RUSSIA///USA/ ROUBLE: 72.78 DOWN 3/4 ROUBLES (ROUBLE UP 3/4 ROUBLES/USA

DOW JONES INDUSTRIAL AVERAGE: UP 61.75 PTS OR 0.19%

NASDAQ 100 DOWN 6.36 PTS OR 0.05%

VOLATILITY INDEX: 31.42 DOWN 2.10 PTS (6.26%)

GLD: 175.98 DOWN 1.34 PTS OR 0.76%

SLV/ 21.49 DOWN .16 PTS OR 0.74%

end)

USA trading day in Graph Form

FANG FUBAR, Bonds & Boeing Battered As Dollar Index Nears 20-Year-High

BY TYLER DURDEN

WEDNESDAY, APR 27, 2022 – 04:01 PM

FANG stocks puked again…

…led by weakness in GOOGL and FB – now back at a crucial support level, from right before the COVID crash…

Source: Bloomberg

And as Goldman’s Prime Desk notes, the cumulative net selling across the FAAMG complex over the past week was the largest over any 5-day period YTD.

Netflix is the biggest loser of the bunch but they are all ugly AF…

Source: Bloomberg

NFLX has a long way to fall to find any support…

Source: Bloomberg

It wasn’t just the megacap tech stocks either as Boeing was battered lower today – testing back towards its lowest since June 2020…

Source: Bloomberg

After GOOGL tanked after hours last night, MSFT rescued the Nasdaq but it could not keep the dream alive all day as all the US majors traded in fits and starts, giving back gains in the last hour. Small Caps were the day’s biggest laggards

Equities continue to catch down to credit markets – which puked today after Carvana’s bonds were battered…

Source: Bloomberg

Treasuries were unceremoniously dumped today across the board with yields up around 8-10bps. The trading pattern was similar with buying in Europe and selling in US, but we note that Treasury yields are all still lower on the week…

Source: Bloomberg

The dollar index (DXY) extended recent gains this week, taking out the COVID crisis highs of March 2020…

Source: Bloomberg

…back to its highest against the small basket of fiat peers since 2002…

Source: Bloomberg

Meanwhile the Ruble is soaring (against the dollar and euro)…

Source: Bloomberg

European gas surged, after Russia halted flows to Poland and Bulgaria, escalating regional tensions and delivering a warning to the continent that it’s serious about cutting supplies amid a standoff over fuel payments.

Source: Bloomberg

And that helped lift US NatGas back above $7 (more LNG export demand?)…

Gold was dumped back below $1900, and didn’t immediately bounce back for a change…

Oil managed modest gains, with WTI rebounding off a $100 handle…

Finally, Bitcoin and Nasdaq continue to trade as if joined at the hip…

Is a bounce coming into the 5/4 FOMC window as the buyback window re-opens?

4200 remains a key line in the sand for the S&P.

Ok, one more thing, Biden is buggered as gas prices at the pump are on the rise again…

But don’t worry, The White House are on it… ALL OPTIONS REMAIN ON TABLE FOR CUTTING GASOLINE PRICES: PSAKI… Price Controls coming in 3…2…1… because they always work so well.

END

I) /MORNING TRADING/LAST NIGHT/CHINA

AFTERNOON

END

II)USA data

USA pending homes ales tumble for 5th straight month as interest rates soar//mortgage applications plummet

(zerohedge)

US Pending Home Sales Tumble For 5th Straight Month As Rates Soar, Mortgage Apps Plunge

WEDNESDAY, APR 27, 2022 – 10:06 AM

After the unexpectedly large drops in new- and existing-home-sales, analysts expected pending home sales to also fall in March (though only modestly) and they did, dropping 1.2% MoM (worse than the 1.0% drop expected) leaving pending home sales down 8.9% YoY…

Source: Bloomberg

This is the 5th straight month of declines for pending home sales and is right before mortgage rates started to explode higher. This is the lowest Pending Home Sales index print since May 2020…

Source: Bloomberg

And just as we noted with new- and existing-home sales, there is likely far more pain to come as mortgage rates surge…

Source: Bloomberg

And mortgage applications plunge…

Source: Bloomberg

And this is all BEFORE Powell unleashes hell.

-END-

IIB) USA COVID/VACCINE MANDATES

end

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

Floods delay plantings and this may trigger additional USA food shortages

(zerohedge)

Farm Crisis Hits Dakotas As Floods Delay Plantings, May Trigger US Food Shortage

TUESDAY, APR 26, 2022 – 09:20 PM

In the last several weeks, farmers in the Northern Plains have been battered by blizzards, winter storms, high winds, and extreme flooding. These weather phenomena have delayed farmers from plantings in high-producing crop regions. Every week plantings are delayed, the harvest yield shrinks, and this comes at a precarious time as the global food supply chain is fracturing.

Private weather forecasters and ag specialist BAMWX warned about delayed plantings across the Northern Plains to Midwest to the Ohio Valley. Some farmers might not be able to plant until at least May as widespread above-average moisture, and widespread well below average temperatures inhibit farmers from working their fields.

BAMWX shows the most above-average precipitation occurred in The Dakotas.

Much of the Northern Plains to Midwest to the Ohio Valley experienced below-average temperatures.

BAMWX’s chief meteorologist Kirk Hinz provides a weather model looking out two weeks and shows more of the same: below-average temperatures and higher precipitation. The risk is that delayed plantings could extend well into the first half of May.

Spring has so far been filled with chaos and uncertainties for American farmers. Many cannot work in their fields because tractors would get stuck, fields are underwater, and saturated soils make for a bad growing environment. Also, cold weather disrupts plant nutrient intake and can damage seedlings very early in the growing cycle, which may cause premature death.

Given this uncertainty from the weather and how America’s food supply chain could be at risk. CBoT trader Tommy Grisafi (also risk advisor at commodity trading firm Advance Trading Inc), with ag clients throughout The Dakotas, provided this warning of what’s happening on the ground:

“As I sit in my office in Mayville, North Dakota, I’m starting to wonder how the Upper Midwest farmer will get all the crops planted in a timely fashion. Below average temps are forecasted for the next ten days; combine that with above-average snow and rainfall, which only means more delayed plantings.
“Upper Midwest farmers are running out of time as prevent plant dates could soon be triggered. North Dakota’s first prevent plant date is May 25th for certain parts of the state — this will mean farmers will file a prevented planting claim on their crop insurance and not plant.”

One significant reason plantings are delayed in North Dakota is flooding.

Grisafi said, “North Dakota, Montana, and Canada are famous for growing specialty crops.”

“We often forget how these products are in everyday foods we consume. The Ukraine war was like throwing gas on an already hot fire. The Great drought of 2021 depleted supplies. The world is now dependent on the Northern hemisphere for major food needs. The US must grow record crops just to meet average demand. If not, this could add to the biblical food shortage coming down the pipe,” he said.

Grisafi has spent three decades on the CBoT and said fertilizer shortages plus delayed plantings suggest harvests could be severely impacted. “If only our government had a strategic fertilizer reserve,” he said.

He is in contact with hundreds of North Dakota farmers and various end-users, indicating many of these folks “will have trouble sleeping at night” because of the agricultural crisis emerging.

Here’s an aerial shot of one of Grisafi’s clients. The fields are completely flooded.

Grisafi’s Ag Bull podcast has recently stated, “planting delays and production problems in the US are moving markets.” Last month, we cautioned that the mainstream media fails to address how the US is careening towards a food crisis.

IIIB) USA ECONOMIC STORIES

END

iv)swamp stories

Democrat Efforts To Disqualify House Republicans For ‘Insurrection’ Was Just Dealt Crippling Blow

TUESDAY, APR 26, 2022 – 08:20 PM

Authored by Mark Tapscott via The Epoch Times (emphasis ours),

An Arizona judge’s ruling against efforts to keep two Republican congressmen and a state representative off the November ballot due to their alleged Jan. 6, 2021, “insurrection” roles at the U.S. Capitol likely foreshadows the outcome of similar efforts in other states, according to the attorney who argued the case.Rep. Paul Gosar (R-Ariz.) during a House Natural Resources Committee hearing in Washington on July 28, 2020. (Bill Clark-Pool/Getty Images)

Superior Court Judge Christopher Coury ruled against motions brought by plaintiffs seeking the removal of U.S. Reps. Paul Gosar (R-Ariz.) and Andy Biggs (R-Ariz.) and state Rep. Mark Finchem, a Republican, saying the 14th Amendment’s Disqualification Clause requires congressional action to remove an elected official, not a suit brought by private citizens in a state court.

“The express language of the United States Constitution controls this issue. The Disqualification Clause creates a condition where someone can be disqualified from serving in public office. However, the Constitution provides that legislation enacted by Congress is required to enforce the disqualification pursuant to the Disqualification Clause,” Coury ruled.

“Aside from criminal statutes dealing with insurrection and rebellion which Congress has enacted (lawsuits which require the government, not private citizens, to initiate), Congress has not passed legislation that is presently in effect which enforces the Disqualification Clause against the candidates,” Coury said.Rep. Andy Biggs (R-Ariz.) testifies at a House hearing in front of the Committee on Oversight and Reform, in Washington on July 12, 2019. (Charlotte Cuthbertson/The Epoch Times)

He was referring to Section 3 of the 14th amendment as the “Disqualification clause” approved by Congress following the Civil War to bar former officials of the Confederacy from holding office under the U.S. Constitution.

Coury noted that “legislation that proposes to enforce the Disqualification Clause currently is pending in the United States Congress, but has not yet been enacted. Therefore, given the current state of the law and in accordance with the United States Constitution, Plaintiffs have no private right of action to assert claims under the Disqualification Clause.”

The 11 plaintiffs, all individual Arizona citizens, who filed the complaint against Gosar, Biggs, and Finchem were represented by attorneys with Free Speech for People (FSP), an Austin, Texas-based left-wing advocacy group.

An FSP spokesman told The Epoch Times the plaintiffs reject the judge’s reasoning and are planning to file an appeal to the Arizona Supreme Court.

“This ruling is contrary to the law. Arizona is not exempted from the mandate of Section Three of the 14th Amendment to the U.S. Constitution. A candidate who has taken an oath of office and then engaged in insurrection has no place on a future Arizona ballot. We will be appealing this decision to the Arizona Supreme Court.”Arizona state Rep. Mark Finchem attends a “Stop the Steal” rally in Phoenix, Ariz., on Dec. 19, 2020. (Linda Jiang/The Epoch Times)

The FSP is also involved in related litigation against Representatives Madison Cawthorne (R-N.C.) and Marjorie Taylor Greene (R-Ga.).

In their complaint, the plaintiffs claimed Finchem—who is now seeking the Secretary of State position in the November election—was an active January 6 participant and coordinated his actions with Gosar and Biggs.

“Finchem was engaged in efforts to intimidate Congress and the Vice President into rejecting valid electoral votes and to subvert the essential constitutional function of an orderly and peaceful transition of power,” according to the complaint.

“Finchem was engaged with the January 6 attack by being in close contact with the planners of the Wild Protest, including throughout the day on January 6, and by participating in the attack with the advance knowledge that it was substantially likely to lead to the attack,” the complaint said.

“Finchem promoted the events of January 6 ahead of time. He coordinated many of his efforts with U.S. Representatives Paul Gosar and Andrew Biggs, and agreed with them on a plan to first delegitimatize, then challenge, and finally overturn the 2020 presidential election,” the complaint continued.

George Wentz, an attorney representing Gosar, told The Epoch Times that “the 14th amendment establishes the disqualification of people that have been engaged in insurrection or given aid and comfort to the enemy. Right there, in the 14th amendment, it says Congress shall decide how this will be enforced. And if only Congress can determine this, then certainly a state cannot.”

Wentz said he believes the attorneys representing the plaintiffs are “trying to bypass the Department of Justice, they are trying to appoint themselves as a self-appointed, unaccountable to the people prosecutorial arm of the government, but they are trying to do [it] through a state law in a state civil court using [the] standard of the preponderance of the evidence.”

But under the federal law approved by Congress, such prosecutions must be done in federal criminal courts using a standard of clear and convincing evidence beyond a reasonable doubt, Wentz pointed out.
Congress did so, he said, by approving a law that directs the President of the United States, through the Department of Justice, to enforce the Disqualification Clause by initiating action in federal court in appropriate cases.

“So they’re trying to do an end-run around the 14th Amendment itself,” Wentz said.

A scheduling conference was held today between the parties, and appeal briefs are expected to be filed beginning next week, with a decision coming perhaps as early as mid-May.

end

It sure took them along enough to arrest him

(zerohedge)

Bill Hwang Arrested: Archegos Owner Charged With Racketeering, Securities And Wire Fraud

WEDNESDAY, APR 27, 2022 – 07:45 AM

After the spectacular collapse of Archegos Capital Management, the SEC announced last October that they were investigating whether the firm engaged in market manipulation.

On Wednesday, owner Bill Hwang and his former CFO, Patrick Halligan, were arrested at their homes and charged with racketeering conspiracy, securities fraud and wire fraud in connection with a scheme to manipulate the share prices of public companies in order to boost profits, according to Bloomberg.

They said the plan, which relied heavily on leverage, helped pump up the firm’s portfolio from $1.5 billion to $35 billion in a single year. -Bloomberg

As a reminder, Archegos amassed a concentrated portfolio of stocks well in excess of $100 billion by using borrowed money in the form of TRS, which kept the exposure on the books of the various prime brokers working with Archegos, thus allowing Hwang to hide his full exposure. His funded imploded in March as some of the stocks tumbled, triggering margin calls from banks, which then dumped Hwang’s holdings.

The pain was especially acute for the fund’s prime brokers such as Credit Suisse, Nomura and Morgan Stanley, who collectively lost more than $10 billion, prompting internal investigations and the forced departures of senior executives.

Credit Suisse came under fire last May for the paltry fees they received from Archegos, which FT said at the time “raises further questions about the risks the lender was prepared to shoulder in pursuit of relationships with ultra-wealthy clients,” adding that “the low level of fees and high risk exposure have caused concern among the board and senior executives, who are investigating the arrangement, according to two people with knowledge of the process.”

It also caused a flood of layoffs and terminations as the bank belatedly looked at its books and realized just how massive its exposure had been.

As Risk.net first reported, Credit Suisse demanded a margin of only 10% for the equity swaps it traded with Archegos and allowed the family office 10-times leverage on some transactions. That was about double the leverage offered by fellow prime broker Goldman Sachs, which took minimal losses when unwinding its positions.

In 2012, Hwang pleaded guilty to insider trading in Chinese bank stocks, and paid $44 million to settle the SEC’s charges when he was head of Tiger Asia Management and Tiger Asia Partners. Hwang shorted three Chinese bank stocks based on insider information they received in private placement offerings.

end

Amazing@!

AG Garland Stonewalls Over Special Counsel Investigation Of Hunter Biden

WEDNESDAY, APR 27, 2022 – 10:45 AM

Authored by Jonathan Turley,

Attorney General Merrick Garland continued to refuse to address questions over his refusal to appoint a Special Counsel in the Hunter Biden investigation despite new evidence tying President Joe Biden to the controversial business deals.

The New York Post is reporting that President Biden agreed to cover more than $800,000 in bills of Hunter, including legal fees tied tied to the foreign deals. While President Biden’s denial of knowledge of Hunter’s deals have been repeated contradicted (including by Hunter himself), White House Press Secretary Jen Psaki declared that President Biden stands by his denials. However, she declined to explain new information showing that a key business partner in these deals visited the White House over a dozen times, including at least one meeting with then Vice President Biden.

The New York Post shows that on Jan. 17, 2019, Hunter Biden’s then-personal assistant, Katie Dodge told accountant Linda Shapero that Joe Biden was covering the legal costs. The email states “I spoke with Hunter today regarding his bills. It is my understanding that Hunt’s dad will cover these bills in the short-term as Hunter transitions in his career.”

What may be even more damaging is the the new disclosure that Hunter Biden’s business partner, Eric Schwerin, made at least 19 visits to the White House and other official locations between 2009 and 2015. Schwerin was the president of Rosemont Seneca, one of the key firms involved in the alleged influence peddling schemes.

We have previously discussed the various references to the President in these emails. Indeed, it is impossible to look into these allegations of influence peddling without repeatedly running into references to the President.

As vice president, Joe Biden flew to China on Air Force Two with Hunter Biden, who arranged for his father to meet some of his business interests. Hunter Biden’s financial interest in a Chinese-backed investment firm, BHR Partners, was registered within weeks of that 2013 trip.

There are emails of Ukrainian and other foreign clients thanking Hunter Biden for arranging meetings with his father. There are photos from dinners and meetings that tie President Biden to these figures, including a 2015 dinner with a group of Hunter Biden’s Russian and Kazakh clients.

People apparently were told to avoid directly referring to President Biden. In one email, Tony Bobulinski, then a business partner of Hunter’s, was instructed by Biden associate James Gilliar not to speak of the former veep’s connection to any transactions: “Don’t mention Joe being involved, it’s only when u [sic] are face to face, I know u [sic] know that but they are paranoid.”

Instead, the emails apparently refer to President Biden with code names such as “Celtic” or “the big guy.” In one, “the big guy” is discussed as possibly receiving a 10 percent cut on a deal with a Chinese energy firm; other emails reportedly refer to Hunter Biden paying portions of his father’s expenses and taxes.

There were other connections like an office arranged for Joe Biden by the Chinese, a letter of recommendation written by Joe Biden for a key Chinese figure’s child, and expenses paid out of joint accounts.

President Biden has long insisted that that his son did “nothing wrong.” That is obviously untrue. One can argue over whether Hunter committed any crime, but few would say that there is nothing wrong with raw influence peddling worth millions with foreign entities. The public has a legitimate reason to know whether the President or his family ran an influence peddling operation worth millions.

Given this mounting evidence, the position of Attorney General Garland has gone from dubious to ridiculous in evading the issue of a special counsel appointment. He continues to refuse to acknowledge these conflicts with the President. In a hearing yesterday, Garland again refused to address the issue, even discussing what it would take to warrant the appointment of a special counsel. There is no reason why he cannot answer such legal questions without getting into the evidence produced in Delaware.

Federal regulations allow the appointment of a special counsel when it is in the public interest and an “investigation or prosecution of that person or matter by a United States Attorney’s Office or litigating Division of the Department of Justice would present a conflict of interest for the Department or other extraordinary circumstances.”

It is hard to imagine a stronger case for the appointment of a special counsel.

END

Russia Hoax: Durham Staffer Accidentally Reveals Emails Showing Coordination Between Fusion GPS And Media

WEDNESDAY, APR 27, 2022 – 04:20 PM

Authored by Sundance via The Last Refuge,

Another significant filing by John Durham’s special counsel team to the court was made Monday night. {READ HERE} Within the filing the staff accidentally did not seal the attachments which are emails between Fusion GPS and many major media outlets. Whoops.

First, the background.

In a previous liable lawsuit by Alfa Bank against Fusion GPS, the Russian bank was able to get the internal emails between Fusion GPS and major media outlets as part of the lawsuit discovery phase. Despite the lawsuit failing to advance, those prior emails now become evidence for John Durham to use in the case against Clinton lawyer Michael Sussmann.

Michael Sussmann, a Perkins Coie lawyer, is accused of lying to the FBI about who he was working for when Sussmann was trying to push the Trump-Russia collusion story to trigger an investigation. Former FBI legal counsel James Baker has said Sussmann told the FBI he was operating independently as a concerned citizen. However, Sussmann is defending himself by saying: (a) he never said he was not working for Clinton at the time he brought the FBI the material, a demonstrable falsehood; and (b) he was motivated by altruism, unrelated to efforts to help Clinton, another demonstrable falsehood.

As the case has proceeded all of the parties are now claiming legal and work product ‘privileges’ to stop Durham from using their communication and networked conspiracy against Michael Sussmann, and by extension them, in court. Fusion GPS, Perkins Coie, Marc Elias, Michael Sussmann, Hillary for America (Clinton campaign), Robby Mook (Campaign Manager), along with Tech-Executive-1 Rodney Joffe, are all claiming some form of privilege.

Monday night, in a responsive filing connected to all of the privilege claims, John Durham deconstructed the nature of their defense. Techno-Fog has a good outline {SEE HERE} of the court documents. However, attached to the filing were exhibits supposed to be filed under seal that the Durham staff “accidentally” did not seal right away.

The exhibit consists of the emails between Fusion GPS and media as the opposition research team attempted to push the Trump-Russia collusion story into the media bloodstream -through their ideologically aligned allies- in 2016.

The emails show how extensive Fusion GPS co-founders Glenn Simpson and Peter Fritsch pushed the Trump Russia story. The emails show the coordinated effort of Fusion GPS with multiple journalists, producers and media outlets. You can read the emails HERE.

I’m not going to publish the emails because the contacts, addresses, phone numbers etc. are not redacted; but you can clearly see the scale of who was involved.

The emails show journalists from Politico, The New York Times, Wall Street Journal, The Washington Post, CNN, ABC, CBS and NBC all feeding from the same trough of manipulated information being fed from Fusion GPS. The journalists, producers and Fusion GPS all working in close coordination to push the false Trump-Russia collusion conspiracy.

The accidentally public emails highlight a soup-to-nuts ‘who’s-who‘ of political disinformation. {SEE HERE}

Additionally, the Durham filing itself {SEE HERE} gives us another granular look at how the prosecution is walking the tightrope of carefully balanced prosecution of leftist activists, lawfare people and political organizations outside government.

Within the filing the privilege claims are easily dispatched by prosecutor Andrew J. DeFilippis, Assistant Special Counsel to John Durham. One key paragraph is a little funny in that the prosecution uses the defense position against them. The prosecution 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 itself seemingly entraps Michael Sussmann. How can Sussmann claim attorney-client privilege when his defense is to say he wasn’t working on behalf of any client when he brought the information to the FBI? Whoopsie daisy.

All of that said, there’s another interesting aspect to this specific filing if you stand back away from the granular legal details and look at the arc of the prosecution within it. It appears to me that Michael Sussmann is not the REAL target of this prosecution, Marc Elias is.

It looks like John Durham is using the prosecution of Sussmann, and all the details within the case, to box in a very easy prosecution of Michael Sussmann’s boss, the infamous Democrat lawyer, Marc Elias. Read the filing and you see how Perkins Coie and Marc Elias are clearly and purposefully outlined as having the major role in the activity of Sussmann. All prosecutorial roads against Sussmann are leading to Elias.

That risk would certainly explain why Marc Elias left Perkins Coie immediately after the Alfa Bank lawsuit against Fusion GPS revealed the connective tissue, and then John Durham start focusing on Perkins Coie and Michael Sussmann.

Given the ideological and political nature of the DOJ under AG Merrick Garland and Deputy AG Lisa Monaco, it makes sense that John Durham would not and importantly, could not, go directly at Marc Elias.

Marc Elias is the biggest Lawfare fish in the world of Democrats. He is the primary legal mind and legal entity around the entire Democrat apparatus from elections to electoral maps. Elias is the leftists modern legal Moses.

If John Durham was viewed to be targeting Elias directly, his special counsel investigation would be shut down tomorrow, regardless of political backlash. Marc Elias is to outside government as Barack Obama is to inside government.

The DOJ would immediately stop Durham if he was obviously targeting Elias. Inside the firestorm that follows, the political media would rally the wagons around protecting Garland, Monaco and Biden ….and after a few days of republicans in the legislative branch gnashing their teeth on Hannity, Ingraham et al, the explosive decision would blow over. DC would make or create some massive shiny thing to cover the controversy.

Bottom Line: Marc Elias is protected by both wings of the professionally political UniParty.

That said, if in the prosecution of Michael Sussmann, it became obvious that Marc Elias was guilty of organizing a criminal conspiracy to defraud the Unites States government on behalf of the Clinton campaign, well, that would be incidental, and that’s how Durham could get to Elias.

Marc Elias is likely to be the biggest catchable fish in the carefully navigated prosecution of those outside government.

Keep watching.

The King Report (including swamp stories)

The King Report April 27, 2022 Issue 6747

Independent View of the News

Global Supply Chain Crisis Flares Up Again Where It All Began
Beijing’s zero-tolerance approach amid an escalating virus outbreak brings the pandemic full circle…
   “We expect a bigger mess than last year,” said Jacques Vandermeiren, the chief executive officer of the Port of Antwerp, Europe’s second-busiest for container volume, in an interview. “It will have a negative impact, and a big negative impact, for the whole of 2022.”… In the short run, the pileups will mean more costly headaches in the $22 trillion arena for global merchandise trade…
https://www.yahoo.com/now/global-supply-chain-crisis-flares-210555498.html

Most Base Metals Rebound as China Steps Up Support for Economy
Central bank pledges monetary assistance for real economy
    Industrial metals from copper to iron ore recouped some of Monday’s losses after China pledged more support to help revive an economy… imperiled by an escalating virus outbreak https://t.co/cgqPElhW8T

Russia Cuts Gas to Poland in Escalation
European gas prices surged as much as 17% after the report… Without confirming the report, the Polish government said it has enough gas in storage, and the gas system operator said it was ready for potential cuts… Poland, which has been vociferous in its calls for harsher measures against Russia over the war in Ukraine, has made clear it won’t pay in rubles. It reiterated that position on Tuesday…
https://news.yahoo.com/russia-halted-gas-supplies-poland-152059894.html

Energy commodities soared on the above story.

FHFA House Price Index Up 2.1 Percent in February; Up 19.4 Percent from Last Year
https://www.fhfa.gov/mobile/Pages/public-affairs-detail.aspx?PageName=FHFA-House-Price-Index-Up-2pt1-Percent-in-February-Up-19pt4-Percent-From-Last-Year.aspx&s=02

U.S. home prices rose in February at a breakneck pace: Case-Shiller
The S&P CoreLogic Case-Shiller 20-city price index posted a 20.2% year-over-year gain in February, up markedly from 18.9% the previous month. On a monthly basis, the index increased 2.4% between January and February. Meanwhile, the Case-Shiller national home price index increased 19.8% between February 2021 and February, up from the previous month. This represented the third-largest pace of home-price appreciation in the Case-Shiller report’s history…   https://t.co/wden5Xu1h7

@charliebilello: The median price of a new home in the US is now 6.5x higher than the median household income. Housing has never been more unaffordable relative to incomes.
https://twitter.com/charliebilello/status/1518972053138944003

GE shares slump as supply chain, inflation woes threaten outlook https://trib.al/GQoqUIH

@WSJ: Whirlpool said U.S. consumers’ demand for appliances is slowing two years into the pandemic, as the dishwasher and refrigerator maker cut its sales forecast and said it would review an international division   https://t.co/flFVHjtAOJ

3M to continue price increases to battle inflation, supply snarls http://reut.rs/38pkT4y

ESMs traded flat to slightly lower during the Nikkei 1^st Session. A modest rally appeared during the 2^nd Session. After China closed at 2 ET, ESMs broke down. They hit a low 30 minutes after Europe opened. Conditioned traders bought the early European dip. The ensuing 20-handle ESM rally ended at 5:08 ET.

ESMs and stocks then declined sharply until a Noon Balloon materialized. The midday rally ended when the afternoon arrived. ESMs and stocks slid to new daily lows. A bottom developed at 13:32 ET. ESMs and stocks then chopped higher until the final hour. ESMs and stocks then tumbled to new lows. The selling persisted into the close, with ESMs and stocks closing at their lows. Not a good day for stocks!

@DrEliDavid: Double masked (US VP) Kamala just tested positive, after receiving 4 covid shots

Positive aspects of previous session
Bonds rallied sharply

Negative aspects of previous session
Stocks got hammered; The NY Fang+ Index (-4.7% as nadir) was the worst performing major index
Tech stocks plunged just as results are to commence; historically they rally sharply into results
Energy commodities soared

Ambiguous aspects of previous session
The dollar rallied sharply, again; the Dollar Index hit 102.361 (highest since Covid panic)

First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE open: Down; Last Hour: Down

Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 4209.46
Previous session High/Low: 4278.14; 4175.04

Facebook Doesn’t Know What It Does with Your Data, or Where It Goes: Leaked Document
“We do not have an adequate level of control and explainability over how our systems use data,” Facebook engineers say in leaked document.
https://www.vice.com/en/article/akvmke/facebook-doesnt-know-what-it-does-with-your-data-or-where-it-goes

Tech Giants Duped into Giving Up Data Used to Sexually Extort Minors
Meta Platforms Inc., Apple Inc., Alphabet Inc.’s Google, Snap Inc., Twitter Inc. and Discord Inc…
https://finance.yahoo.com/news/tech-giants-duped-giving-data-173424811.html

It Will Be Years Before Raytheon Can Build New Stinger Missiles
The U.S. has been sending its Stingers to Ukrainian forces battling Russia.
    It will be years before Raytheon Technologies can build new Stinger shoulder-fired missiles due to a dwindling supply of weapons parts, the company’s CEO said Tuesday…
https://www.defenseone.com/business/2022/04/it-will-be-years-raytheon-can-build-new-stinger-missiles/366105/

U.S. intel helped Ukraine protect air defenses, shoot down Russian plane carrying hundreds of troops – Ukrainian forces have used specific coordinates shared by the U.S. to direct fire on Russian positions and aircraft, current and former officials tell NBC News.
https://www.nbcnews.com/politics/national-security/us-intel-helped-ukraine-protect-air-defenses-shoot-russian-plane-carry-rcna26015

WSJ’s @NickTimiraos: Deutsche Bank economists are out with a report that says not only is a U.S. recession likely, but also that a downturn will be significant and “worse than expected”. DB sees core PCE inflation running in the 4-5% range well into next year, receding only after the recession…
    “In short, the scourge of inflation has returned and is here to stay… it will be a long time before it recedes back to acceptable levels near the Fed’s 2% target. As a society, monetary tightening is a policy that affects all of us; and it is sorely tempting to take a go slow approach hoping that the US economy can be landed softly onto a sustainable path. This will not happen. Our view is that the only way to minimize the economic, financial, and societal damage of prolonged inflation is to err on the side of doing too much.”   DB sees a nominal neutral fed-funds rate that “could well be in the vicinity of 5%.”

@AtlantaFed: On April 26, the GDPNow model nowcast of real GDP growth in Q12022 is 0.4%. https://bit.ly/32EYojR

Tesla stock closes down more than 12% after Musk’s Twitter deal
https://www.cnbc.com/2022/04/26/tesla-stock-falls-more-than-9percent-after-musks-twitter-deal.html

After the close MSFT reported EPS of 2.22 (2.19 exp) and Revenue of 49.36B (49.04B expected). The stock tumbled 3.1% in after-hour trading. MSFT then boosted Q4 guidance; MSFT surged to +2%!

Google reported GAAP EPS of 24.62 (25.71 exp) and revenue of 68.01B (67.98B exp). GOOGL plunged as much as 7% in after-hour trading. Google announced a $70B buyback; so, the stock rebounded ~2%.

TXN reported Q1 EPS of 2.35 (1.87 expected); but it plunged as much as 8% in after-hour trading because it projects Q2 EPS of 1.84-2.26. 2.27 was consensus.

Today – Tuesday’s equity carnage negated the robust rally on Monday afternoon and advanced the notion that the rally was largely traders. As noted above, an enormous negative has developed: Tech stocks, which normally rally sharply into results, are tumbling. Beaucoup pattern and conditioned traders have been caught long and wrong. There is no telling when the tech carnage will subside. PS – The tech stock carnage yesterday might be the product of someone having nonpublic info on Google’s ugly results.

The S&P 500 Index closed 25 handles below its important 4200 support. This level acted as a springboard for the Monday afternoon rally. Now, the focus will be on the support at the March lows (4158-61). If this level is breached, the critical February low (4114.65) comes into play.

Stocks have broken down; technical damage is severe; and crucial levels beckon. Plus, the most bullish intermediate term seasonal pattern for stocks, known to Earthlings, ends on May1. Ergo, bulls and the force that keeps manipulating ESMs higher NEED to make a resolute stand today.

@AlmanacTrader: Welcome to the Weak Spot of the 4-Year Cycle. Unfortunately, the market entered the weak spot of the 4-Year Election Cycle this month with an array of headwinds from the Fed, Inflation, the Ukraine War and now most concerning China’s unprecedented Covid lockdowns and testing.
https://twitter.com/AlmanacTrader/status/1519095923812491267

The Dollar Index hit 102.361. If the Dollar Index can surpass 103.82 (previous peak 1/6/2017), it will be at its highest level since December 2002. The euro fell to 1.0635, its lowest level since April 2017. ESMs are +4.50; USMs are +14/32; and the euro is 1.645 at 20:10 ET.

Expected earnings: HUM 6.74, ADP 2.08, NSC 2.93, ROL .14, HES 1.17, BA -.15, GD 2.51, MAS .85, KHC .54, AFL 1.37, F .37, DFS 3.63, ORLY 7.50, FB 2.59, MAA 1.93, CHRW 1.55, URI 4.92, AWK .77, QCOM 2.93, AMGN 4.13, PYPL .88

Expected economic data: March Trade Balance -$105.0B; March Wholesale Inventory 1.5% m/m, Retail Inventories 1.4% m/m; March Pending Home Sales -1.0% m/m, -8.1% y/y

S&P 500 Index 50-day MA: 4398; 100-day MA: 4503; 150-day MA: 4515; 200-day MA: 4495
DJIA 50-day MA: 34,191; 100-day MA: 34,863; 150-day MA: 35,004; 200-day MA: 35,005

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 negative – a close above 4261.56 triggers a buy signal

Joe’s missing millions! Financial records reveal Biden had $5.2million in unexplained income
Emails from Hunter’s laptop reveal Joe Biden agreed to pay his son’s legal fees for his deal with a Chinese government-controlled company (But Joe said it he wasn’t involved with Hunter’s biz deals!)
https://www.dailymail.co.uk/news/article-10728521/Financial-records-reveal-Joe-Biden-5-2million-unexplained-income.html

Hunter Biden business partner made 8 additional White House visits in 2016, visitor logs show
Eric Schwerin visited the White House at least 27 times during the Obama-Biden administration
https://www.foxnews.com/politics/hunter-biden-business-partner-eight-additional-white-house-visits

Secretive Soros-funded group works behind the scenes with Biden admin on policy, documents show – Governing for Impact’s internal memo says they have implemented more than 20 of their federal agenda items   https://www.foxnews.com/politics/secretive-soros-funded-group-works-behind-scenes-biden-admin-policy-documents

Durham’s latest: He has hundreds of e-mails between Fusion GPS and reporters
Also – DARPA Contracts and Classified data   https://technofog.substack.com/p/durhams-latest-he-has-hundreds-of?s=w

@MichaelRCaputo: (WaPo’s) @thamburger Is it a bit uncomfortable to have it known you were working so closely as this with a paid partisan? Fusion fed you lies and you dutifully transcribed them as stories, even after your Moscow bureau called them “impossible BS.” “It is, indeed, hard to believe.
https://twitter.com/MichaelRCaputo/status/1518913226024574976

Judge rules against efforts to disqualify Arizona GOP Reps. Biggs, Gosar over ‘insurrection’ claim
Judge said only Congress has standing to disqualify a candidate on 14th Amendment argument
https://justthenews.com/government/courts-law/judge-rules-against-efforts-disqualify-arizona-gop-rep-biggs-gosar-over

Twitter founder Jack Dorsey (@jack): Elon is the singular solution I trust. I trust his mission to extend the light of consciousness… The idea and service are all that matters to me, and I will do whatever it takes to protect both. Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step… Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one. This is also @paraga’s goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path…I believe it with all my heart…

@elonmusk: The extreme antibody reaction from those who fear free speech says it all… Suspending the Twitter account of a major news organization (NY Post) for publishing a truthful story (Hunter’s PC) was obviously incredibly inappropriate…

Twitter’s top lawyer reassures staff, cries during meeting about Musk takeover
Vijaya Gadde, a key executive involved in decisions to remove former President Donald Trump and ban political advertising, expressed uncertainty about the future of the platform.
https://www.politico.com/news/2022/04/26/twitters-top-lawyer-reassures-staff-cries-during-meeting-about-musk-takeover-00027931

MSNBC, ABC, CBS, NBC spread fear over Elon Musk Twitter deal: ‘Free speech of straight white men’   https://www.foxnews.com/media/msnbc-abc-cbs-nbc-elon-musk-twitter-deal

@Shem_Infinite: New York Times employee tweets out a thread with a source at Twitter melting down about how he is afraid he won’t be able to censor trending topics anymore and how much he hates his new boss, accidentally includes information identifying the employee, then tries to delete
https://twitter.com/Shem_Infinite/status/1518726645175267329

@TPostMillennial: Now that Elon Musk owns Twitter, MSNBC is all of a sudden worried that the platform can be manipulated for political reasons. You can’t make this stuff up.

MSNBC Host Ari Melber melts down on fear that Musk will do to Dems what Twitter did to Trump, GOP legislators, and conservatives: “You could secretly ban one party’s candidate…secretly turn down the reach of their stuff and turn up the reach of something else and the rest of us might not even find out about it until AFTER the election.” https://twitter.com/MaryMargOlohan/status/1518787650815201281
    @HouseGOP: This is what @Twitter was doing to Republicans for years

@cabot_phillips: There is truly nothing funnier than this MSNBC host ranting about what Elon Musk could do to Twitter, and accidentally giving a perfect description of how Twitter has actually operated for the last five years

GOP Sen. @tedcruz: The utter shamelessness for MSNBC to say this with a straight face in light of what has actually occurred on Twitter over the past few years.

GOP Sen. @marcorubio: The meltdown over the @twitter purchase by @elonmusk is all because the far–left fears losing the power to threaten, silence and destroy anyone who doesn’t agree with them

LA Times op-ed: With Elon Musk in charge, it’s the beginning of the end for #BlackTwitter
https://www.latimes.com/california/story/2022-04-25/elon-musk-buying-twitter-will-silence-black-twitter

Jeff Bezos Suggests Elon Musk Gives China ‘Leverage’ Over Twitter – Gets Wrecked in Replies
@sankrant: How much leverage does China have over Washington Post given the percentage of goods sold on Amazon that are dependent on that country for supply?… @ChristinaPushaw: Almost everything on your website is crap from China… Special Report: Amazon partnered with China propaganda arm…
https://www.zerohedge.com/political/jeff-bezos-suggests-elon-musk-gives-china-leverage-over-twitter-gets-wrecked-replies

A Look Back at the Deranged Twitter Board Members Who Nearly Murdered the Company
Excluding Jack Dorsey, the current board’s ownership totaled barely 0.1% of the company.
https://www.revolver.news/2022/04/disastrous-twitter-board-members-and-the-elon-musk-takeover/

@DonaldJTrumpJr: While I’m awesome and totally deserving of 87,000 new followers a day it seems that someone took the shackles off my account. Wonder if they’re burning the evidence before new mgmt comes in? (Numerous bloggers say their Twitter followers are soaring. Something is up!)

@willcain: In the past 24 hours many of us have seen proof of shadow banning, which I guess is now ending, as our follower counts spike. Confirming suspicions we were artificially muted. But did we know that other accounts, who are now losing followers, were being artificially inflated?

@Peoples_Pundit: The very day after @elonmusk buys @Twitter, my follower count gained significantly for the first time in I don’t know how long since the crackdown began in the Biden Era. I’ve had ups/downs, but constant MSGS saying users are auto-unfollowed daily. Interesting coincidence.

Mitch McConnell voted most unpopular senator: poll (33% Approval in KY) https://t.co/YREYaTOTYw

Five Signs War in Ukraine Is the Last Gasp of The Putin Era
https://www.forbes.com/sites/lorenthompson/2022/04/26/five-signs-war-in-ukraine-is-the-last-gasp-of-the-putin-era/

The Army Keeps Boosting Recruiting Bonuses as It Struggles to Find New Soldiers
https://www.military.com/daily-news/2022/04/26/army-keeps-boosting-recruiting-bonuses-it-struggles-find-new-soldiers.html

BBC reporter roasted for outrage over how easy it is to buy guns at Walmart, shares picture of BB gun – ‘You’ll shoot your eye out, kid!’
https://www.foxnews.com/media/bbc-reporter-roasted-for-outrage-over-how-easy-it-is-to-buy-guns-at-walmart-shares-picture-of-bb-gun

Only 2 more days until the NFL Draft!!!!

Let us close today with this offering courtesy of Greg Hunter interviewing Clif High

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