GOLD PRICE CLOSED: UP $10.15 at $1796,49

SILVER PRICE CLOSED: UP $0.29  to $23.72

Access prices: closes : 4: 15 PM

Gold ACCESS CLOSE 1797.30

Silver ACCESS CLOSE: 23.74

Bitcoin morning price:, 16,865 UP 208 DOLLARS   

Bitcoin: afternoon price: $16,826 UP 170 dollars

Platinum price closing  $1023.65 UP $41.60

Palladium price; closing 1759,15  UP 8.70

END

Due to the huge rise in the dollar, we must look at gold and silver in currencies other than the dollar to understand where we are heading

I will now provide gold in Canadian dollars, British pounds and Euros/4: 15 PM ACCESS

CANADIAN GOLD: $2442,56 DOWN $2.52 CDN dollars per oz

BRITISH GOLD: 1491,86 UP 1.96 pounds per oz

EURO GOLD: 1693.07 UP 1.36  euros per oz

EXCHANGE: COMEX

COMEX//NOTICES FILED

EXCHANGE: COMEX
CONTRACT: DECEMBER 2022 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,787.000000000 USD
INTENT DATE: 12/22/2022 DELIVERY DATE: 12/27/2022
FIRM ORG FIRM NAME ISSUED STOPPED

---

118 C MACQUARIE FUT 2
365 H MAREX CAPITAL M 1
435 H SCOTIA CAPITAL 141
657 C MORGAN STANLEY 18
661 C JP MORGAN 225
661 H JP MORGAN 100
737 C ADVANTAGE 7
905 C ADM 11
991 H CME 53

---

TOTAL: 279 279
MONTH TO DATE: 20,566

COMEX//NOTICES FILED re JPMorgan  225/279

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GOLD: NUMBER OF NOTICES FILED FOR DEC. CONTRACT:   0 NOTICES FOR nil  OZ  or  nil TONNES

total notices so far: 20,287 contracts for 2,028700 oz (63.100 tonnes)

 

SILVER NOTICES: 264 NOTICE(S) FILED FOR 1,320,000 OZ/

 

total number of notices filed so far this month  4209 for 21,045,000  oz

---

---

END

GLD

WITH GOLD UP $10.15

INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD//BIG CHANGES IN GOLD INVENTORY AT THE GLD: /////NO CHANGES IN GLD INVENTORY:

INVENTORY RESTS AT 913.88 TONNES

Silver//SLV

WITH NO SILVER AROUND AND SILVER UP 29 CENTS

AT THE SLV// :/NO CHANGES IN SILVER INVENTORY AT THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

CLOSING INVENTORY: 507.90 MILLION OZ (THIS IS ALSO A CRIME SCENE@!!!!

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A HUGE SIZED 1312 CONTRACTS TO 127,691 AND FURTHER FROM  THE  RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THE LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR  $0.53 LOSS IN SILVER PRICING AT THE COMEX ON THURSDAY.  OUR SHORTERS/HFT WERE  SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.53 AND WERE SUCCESSFUL IN KNOCKING SOME  SPEC LONGS, AS WE HAD A STRONG LOSS ON OUR TWO EXCHANGES OF 822 CONTRACTS. AS WELL WE HAD  EXCHANGE FOR RISK TRANSFER OF 0 CONTRACTS.  WE HAD MINOR   SPEC SHORT COVERINGS OF  THEIR SHORTFALL . BUT WE  HAD HUGE SHORT ADDITIONS WITH THE HUGE  PRICE FALL OF THE SILVER. // OUR  BANKERS CONTINUE TO BE PURCHASERS OF NET COMEX LONGS. BUT THEY ALSO SUPPLIED THE NECESSARY SHORT CONTRACTS>>> SOME MINOR INCREASE OF NEWBIE SPEC LONGS ADDING TO THEIR POSITIONS CAUSING ADDITIONAL MISERY TO OUR SHORTERS.

WE  MUST HAVE HAD: 
A HUGE  ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT  23 .24. MILLION OZ FOLLOWED BY TODAY;S QUEUE.. JUMP   of 20,000 OZ //  V)   STRONG SIZED COMEX OI LOSS/ 

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL  – 15

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

TOTAL CONTRACTS for 19 days, total 10,403 contracts:   OR 52.015  MILLION OZ PER DAY. (548 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 52.015 MILLION OZ

.

LAST 17 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 

APRIL: 114.52 MILLION OZ FINAL//LOW ISSUANCE

MAY: 105.635 MILLION OZ//

JUNE: 94.470 MILLION OZ

JULY : 87.110 MILLION OZ 

AUGUST: 65.025 MILLION OZ 

SEPT. 74.025 MILLION OZ///FINAL

OCT.  29.017 MILLION OZ FINAL

NOV: 134.290 MILLION OZ//FINAL

DEC, 52.015 MILLION OZ INITIAL( VERY SMALL)

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1312 WITH OUR $0.53 LOSS IN SILVER PRICING AT THE COMEX// THURSDAY.,.  THE CME NOTIFIED US THAT WE HAD A FAIR  SIZED EFP ISSUANCE  CONTRACTS: 475 CONTRACTS ISSUED FOR MAR AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS./ WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR DEC OF  23.24 MILLION  OZ FOLLOWED BY TODAY:S 20,000 QUEUE.. JUMP   //NEW STANDING 23.380 MILLION OZ + EFR 11.5 = 34.88 MILLION OZ.  .. WE HAVE A STRONG SIZED LOSS OF 822 OI CONTRACTS ON THE TWO EXCHANGES FOR 4.110 MILLION  OZ.. THE SILVER SHORTS ARE NOW TRAPPED AS THEY ARE HAVING CONSIDERABLE DIFFICULTY IN COVERING THOSE SHORTS.

 WE HAD  264  NOTICE(S) FILED TODAY FOR  1,320,000   OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL  BY A FAIR SIZED 2794  CONTRACTS  TO 438,592 AND FURTHER FROM  THE 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: REMOVED 493  CONTRACTS.

.

THE FAIR SIZED DECREASE  IN COMEX OI CAME WITH OUR  $29.35 LOSS IN PRICE. WE ALSO HAD A STRONG INITIAL STANDING IN GOLD TONNAGE FOR DEC. AT 58.86 TONNES ON FIRST DAY NOTICE  FOLLOWED BY TODAY:S 21,600 OZ QUEUE JUMP  (216 CONTRACTS)//(QUEUE JUMPING = EXERCISING LONDON BASED EFP’S WILL CONTINUE UNTIL MONTH’S END) (EFP is the transfer of  contracts immediately to London for potential gold deliveries originating from London). NEW STANDING 63.576 TONNES

YET ALL OF..THIS HAPPENED DESPITE OUR $29.35  LOSS IN PRICE  WITH RESPECT TO THURSDAY’S TRADING

WE HAD A FAIR SIZED GAIN OF 1778 OI CONTRACTS (5.530 PAPER TONNES) ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 5065 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 438,592 

IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1778 CONTRACTS  WITH 3287 CONTRACTS DECREASED AT THE COMEX AND 5065 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 1778 CONTRACTS OR 5.530 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A GOOD SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5065 CONTRACTS) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI (3287) TOTAL GAIN IN THE TWO EXCHANGES 1778 CONTRACTS. WE NO DOUBT HAD 1) MINIMAL  SPECULATOR SHORT COVERINGS // CONTINUED GOOD BANKER ADDITIONS BUT THEY ALSO SUPPLIED THE NECESSARY PAPER SHORT.  WE  HAD CONSIDERABLE SHORT SPEC ADDITIONS/// // MINOR  NEWBIE SPEC  ADDITIONS  ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR DEC. AT 58.86 TONNES FOLLOWED BY TODAY’S QUEUE. JUMP  of 21,600 oz// //NEW STANDING 64.432 TONNES///3) ZERO LONG LIQUIDATION //.,4)   FAIR SIZED COMEX OPEN INTEREST GAIN 5) GOOD ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER/

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2022 INCLUDING TODAY

DEC

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

47,379  CONTRACTS OR 4,737,900 OZ OR 147.34 TONNES 19 TRADING DAY(S) AND THUS AVERAGING: 2493 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 19 TRADING DAY(S) IN  TONNES:147.34   TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2021, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS  147.34/3550 x 100% TONNES  4.14% 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:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247,44 TONNES FINAL// 

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

OCT:  177.57  TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)

NOV.  223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)

DEC:  147.34 tonnes Initial//VERY SMALL

SPREADING OPERATIONS

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

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW   NON ACTIVE FRONT MONTH OF NOV. WE ARE NOW INTO THE SPREADING OPERATION OF BOTH SILVER AND GOLD (WILL BE SMALL AS SPREADERS DO NOT PAY ATTENTION TO NOVEMBER)

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 OCT HEADING TOWARDS THE NON  ACTIVE DELIVERY MONTH OF NOV., FOR BOTH GOLD AND 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 (NOV), 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 HUGE SIZED 1312 CONTRACTS OI TO  127,691 AND FURTHER FROM OUR COMEX HIGH 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 475 CONTRACTS

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

MAR  475 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 475 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 1312  CONTRACTS AND ADD TO THE 475 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A HUGE LOSS OF 837 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. 

THUS IN OUNCES, THE LOSS  ON THE TWO EXCHANGES 4.185 MILLION OZ//

OCCURRED WITH OUR 53 CENT LOSS IN PRICE ….. OUR SPEC SHORTS HAVE NOWHERE TO HIDE!

OUTLINE FOR TODAY’S COMMENTARY

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

2 ) Gold/silver trading overnight Europe,

(Peter Schiff,

end

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/silver commentaries

6. Commodity commentaries//

7/CRYPTOCURRENCIES/BITCOIN ETC

3. ASIAN AFFAIRS

i)FRIDAY MORNING//THURSDAY  NIGHT

SHANGHAI CLOSED DOWN 8.56 PTS OR 0.28%   //Hang Sang CLOSED DOWN 272.62 OR 1.03%    /The Nikkei closed DOWN 272.62 OR 1.03%          //Australia’s all ordinaries CLOSED DOWN  0.65%   /Chinese yuan (ONSHORE) closed DOWN TO 6.9853//OFFSHORE CHINESE YUAN DOWN TO 6.9955//    /Oil DOWN TO 79.09 dollars per barrel for WTI and BRENT AT 82.65    / Stocks in Europe OPENED MOSTLY GREEN (EXCEPT FRANCE).        ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

a)NORTH KOREA/SOUTH 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//COVID ISSUES/VACCINE ISSUES

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 3287 CONTRACTS UP TO 438,592 WITH OUR THE FALL IN PRICE OF $29.35 

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE -ACTIVE DELIVERY MONTH OF DEC…  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 5065 EFP CONTRACTS WERE ISSUED:  ;: ,  . 0 FEB: 5065 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  5065   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 FAIR SIZED  TOTAL OF 1778 CONTRACTS IN THAT 5065 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A FAIR SIZED  COMEX OI LOSS OF 3287  CONTRACTS..AND  THIS FAIR SIZED GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR LOSS  IN PRICE OF $29.35. WE ARE WITNESSING  CONSIDERABLE SPEC SHORTS ADDITIONS TO THEIR SHORTFALL BUT ZERO SPEC SHORT LIQUIDATIONS. BANKERS CONTINUE  AS NET BUYERS OF COMEX GOLD CONTRACTS AS THEY HAVE BEEN NET LONG FOR THE PAST FEW MONTHS.  WE ALSO HAD FEW  NEWBIE SPECS ADDITIONS BUT CONSIDERABLE NEWBIE SPEC LONG LIQUIDATIONS 

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING DEC  (64.432)

TONNES),

 HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 12 MONTHS OF 2021-2022:

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  YEAR  2021 (JAN- DEC): 601.213 TONNES

YEAR 2022:

JANUARY 2022  17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT.  38.1158 TONNES

OCT:  77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL (TOTAL SO FAR THIS YEAR 591.535 TONNES)

Dec. 64.432 tonnes

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL $29.35)  //// AND WERE ALSO UNSUCCESSFUL IN KNOCKING ANY  SPECULATOR LONGS AS WE HAD A FAIR GAIN OF 1778 CONTRACTS ON OUR TWO EXCHANGES >. WE HAD CONSIDERABLE  NEW SPEC SHORT ADDITIONS AND  FEW SPEC SHORT COVERINGS..  //    WE HAVE GAINED A TOTAL OI  OF 7.063 PAPER TONNES OF TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR DEC. (54.57 TONNES), FOLLOWING OUR QUEUE JUMP OF 21,600 oz//NEW STANDING RISING TO 64.432 tonnes…THIS WAS ACCOMPLISHED DESPITE OUR FALL IN PRICE DUE TO TUNE OF $29.35.  

WE HAD – 493 CONTRACTS  COMEX TRADES REMOVED FROM OPEN INTEREST AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES 1778 CONTRACTS OR 177,800 OZ OR 5,53 TONNES

Estimated gold comex today 102,750// awful//

final gold volumes/yesterday  183,688/  poor

INITIAL STANDINGS FOR  DECEMBER 2022 COMEX GOLD //DEC 23

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	9324.79  oz Manfra 290 kilobars .
Deposit to the Dealer Inventory in oz	nil oz
Deposits to the Customer Inventory, in oz	211,457.127  oz BRINKS HSBC 1101 kilobars and 5476 kilobars
No of oz served (contracts) today	279 notice(s) 27,900 OZ 0.8678 TONNES
No of oz to be served (notices)	149 contracts    14,900 oz 0.4634 TONNES
Total monthly oz gold served (contracts) so far this month	20,566  notices 2,056,600 63.9689 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

i)Dealer deposits: 0

total dealer deposit:  nil oz

No dealer withdrawals

Customer deposits: 0

 customer withdrawals: 1

i) Out of Manfra  9324.79 oz (290 kilobars)

Total withdrawals: 9324.79 oz 

total in tonnes: 0.29  tonnes

Adjustments: 0  

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR DECEMBER.

For the front month of DECEMBER we have an oi of 428 contracts having GAINED 216  contracts 

We had 0 contracts served on THURSDAY, so we gained  216 contracts or an additional 21,600 oz will  stand for gold at the COMEX. 

JANUARY LOST 75 contracts to stand at 11917

February LOST 5360  contacts  to 370,378

We had 279  notice(s) filed today for 27,900 oz 

Today, 100 notice(s) were issued from J.P.Morgan dealer account and  0  notices were issued from their client or customer account. The total of all issuance by all participants equate to  279  contract(s) of which 0   notices were stopped (received) by  j.P. Morgan dealer and 225  notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0 notice(s) received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the DEC. /2022. contract month, 

we take the total number of notices filed so far for the month (20,566 x 100 oz , to which we add the difference between the open interest for the front month of  (DEC. 428 CONTRACTS)  minus the number of notices served upon today 279 x 100 oz per contract equals 2,071,500 OZ  OR 64.432 TONNES the number of TONNES standing in this    active month of DEC. 

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

No of notices filed so far (20,566 x 100 oz+   (428 OI for the front month minus the number of notices served upon today (279} x 100 oz} which equals 2,071,500 oz standing OR 64.432 TONNES in this  active delivery month of DEC..

TOTAL COMEX GOLD STANDING:  64.432 TONNES  (A POOR STANDING//COMEX RUNNING OUT OF PHYSICAL TO SERVE UPON OUR LONGS.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

we had one adjustment of 110,631.591 oz Brinks

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 o

total pledged gold:  2,062,155.871 OZ   64,14 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED:  23,235,785,659 OZ  

TOTAL REGISTERED GOLD:11,342,356.837 OZ     (352.79 tonnes)..dropping fast

TOTAL OF ALL ELIGIBLE GOLD: 11,893,428.822 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 9,280,201 OZ (REG GOLD- PLEDGED GOLD) 288.65 tonnes//rapidly declining 

END

SILVER/COMEX

DEC 23//INITIAL DEC. SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	1,258,901.347 oz Brinks CNT Delaware Manfra
Deposits to the Dealer Inventory	nil OZ
Deposits to the Customer Inventory	607,267,900 oz JPM
No of oz served today (contracts)	126 CONTRACT(S)    (1,320,000 OZ)
No of oz to be served (notices)	341 contracts  (1,705,000 oz)
Total monthly oz silver served (contracts)	4335 contracts  (21,675,000 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

i)  0 dealer deposit

total dealer deposits:  nil   oz

i) We had 0 dealer withdrawal

total dealer withdrawals:  oz

We have 1 deposits into the customer account

i) Into JPmorgan:  607,267.900 oz

Total deposits:  607,267.900 oz 

JPMorgan has a total silver weight: 148.595 million oz/298.672 million =49.74% of comex .//dropping fast

  Comex withdrawals: 4

i) Out of Delaware 1996,913 oz
ii) Out of Brinks:  208,867.820 oz

iii) Out of CNT:: 12,076.06 oz

iv)Out of Manfra: 1,035,960.804 o

Total withdrawals; 1,255,901.397 oz

adjustments: 1

b) customer to dealer Brinks 619,287,210 oz

the silver comex is in stress!

TOTAL REGISTERED SILVER: 36.638 MILLION OZ (declining rapidly).TOTAL REG + ELIG. 298.672 MILLION OZ (also declining)

CALCULATION OF SILVER OZ STANDING FOR SEPT

silver open interest data:

FRONT MONTH OF DEC OI: 467  CONTRACTS HAVING LOST 260  CONTRACT(S.) 

WE HAD  264  NOTICES FILED ON TUESDAY. SO WE GAINED 4 CONTRACTS  OR  20,000 oz

AS A QUEUE JUMP.  WE ALSO HAD 0 CONTRACT EXCHANGE FOR RISK ISSUED FOR ZERO OZ.  

JANUARY SAW A LOSS OF 64  CONTRACTS  LOWERING TO  1335 CONTACTS.

FEB> GAINED 5 CONTRACTS TO 125 CONTRACTS

March LOST 921 contracts DOWN to 113,107 contracts

TOTAL NUMBER OF NOTICES FILED FOR TODAY:  126 for  630,000 oz

Comex volumes// est. volume today  30,421//awful  

Comex volume: confirmed yesterday: 47,333 contracts ( poor)

To calculate the number of silver ounces that will stand for delivery in DEC. we take the total number of notices filed for the month so far at 4335 x  5,000 oz = 21,675,000 oz 

to which we add the difference between the open interest for the front month of DEC(467) and the number of notices served upon today 126 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the DEC./2022 contract month: 4335 (notices served so far) x 5000 oz + OI for front month of DEC (467 – number of notices served upon today (126) x 500 oz of silver standing for the DEC. contract month equates 23.380 million oz.. Also we have another criminal element to our silver oz standing, the use of Exchange for Risk/  Today an addition of 0 EFR contract transfers which are “Exchange for risk” settlements.  I do not want to bore you but needless to say  they are not physical transfers so are criminal in nature. There have been 2300 Exchange for Risk contracts settled during the first 22 days of the month for 11.500 million oz.  Thus total delivery:  34.880 million oz.

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

Comex volumes:21,547// est. volume today//   awful

Comex volume: confirmed yesterday: 74,745 contracts ( good)

END

GLD AND SLV INVENTORY LEVELS

DEC 23/WITH GOLD UP $19,15 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 913.88 TONNES/

DEC 22/WITH GOLD DOWN $29.35 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 913.88 TONNES

DEC 21/WITH GOLD FLAT TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.74 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 913.88 TONNES

DEC 20/WITH GOLD UP $27.05: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.73 TONNES INTO THE GLD////INVENTORY RESTS AT 912.14 TONNES

DEC 19/WITH GOLD DOWN $2.10: HUGE CHANGES IN GOLD INVENTORY AT THE GLD> A BIG WITHDRAWAL OF 3.47 TONNES FROM THE GLD//INVENTORY RESTS AT 910.41 TONNES

DEC 16/WITH GOLD UP $12.45: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.32 TONNES INTO THE GLD//INVENTORY RESTS AT 913.88 TONNES

DEC 15//WITH GOLD DOWN $31.00: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.16 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 911.56 TONNES

DEC 14/WITH GOLD DOWN $6.20: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.32 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 912.72 TONNES

DEC 13/WITH GOLD UP $32.75: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.32 TONNES INTO THE GLD///INVENTORY RESTS AT 910.41

DEC 12/WITH GOLD DOWN $17.60: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 908.09 TONNES

DEC 9/WITH GOLD UP $8.90//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 908.09 TONNES

Dec 8/WITH GOLD UP $4.05, OVER THE PAST 3 WEEKS WE LOST 2.04 TONNES//INVENTORY RESTS AT 908.09 TONNES

NOV 14/WITH GOLD UP $7.30: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD///INVENTORY RESTS AT 910.12 TONNES

NOV 11/WITH GOLD UP $15.25//BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.19 TONNES INTO THE GLD////INVENTORY RESTS AT 911.57 TONNES

NOV 10/WITH GOLD UP $40.75: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 908.38 TONNES

NOV 9/WITH GOLD DOWN $2.00:  BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.89 TONNES INTO THE GLD////INVENTORY RESTS AT 908.38 TONNES

NOV 8/WITH GOLD UP $34.40: BIG CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 1.47 TONNES FROM THE GLD//: INVENTORY RESTS AT 905.49 TONNES

NOV 7/WITH GOLD UP $2.95: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.63 TONNES FROM THE GLD//INVENTORY RESTS AT 906.96. TONNES

NOV 4/WITH GOLD UP $44.45 TO $1673.30: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.48 TONNES FROMTHE GLD////INVENTORY RESTS AT 911.59 TONNES.

NOV 3/WITH GOLD DOWN $18.30 TO $1628.85: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.05 TONNES FROM THE GLD////INVENTORY RESTS AT 915.07 TONNES

NOV 2/WITH GOLD UP 55 CENTS TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD///INVENTORY RESTS AT 919.12 TONNES.

NOV 1/WITH GOLD UP $9.20 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.02 TONNES FORM THE GLD../INVENTORY RESTS AT 920.57 TONNES

OCT 31/WITH GOLD DOWN $4.00; BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.61 TONNES FROM THE GLD//INVENTORY RESTS AT 922.59. TONNES//

OCT28/WITH GOLD DOWN $19.70 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.19 TONNES FROM THE GLD..///INVENTORY RESTS AT 925.20 TONNES

OCT 27/WITH GOLD DOWN $3.80: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 928.39 TONNES

OCT 26/WITH GOLD UP $11.65 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 928.39 TONNES

OCT 25/WITH GOLD UP $3.85: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .29 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 928.39 TONNES

OCT 24/WITH GOLD DOWN $1.80 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.89 TONNES FROM THE GLD////INVENTORY RESTS AT 928.10 TONNES

OCT 21/WITH GOLD UP $19.10: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.74 TONNES FROM THE GLD///INVENTORY RESTS AT 930.99 TONNES

OCT 20/WITH GOLD UP $2.40: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 6.08 TONNES FROM THE GLD///INVENTORY RESTS AT 932.73 TONNES

OCT 19/WITH GOLD DOWN $20.65:: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .29 TONNES FROM THE GLD////INVENTORY RESTS AT 938.81 TONNES

OCT 18/WITH GOLD DOWN $7.40: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.03 TONNES FROM THE GLD////INVENTORY RESTS AT 939.10 TONNES

OCT 17/WITH GOLD UP $14.55: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.28 TONNES FROM THE GLD///INVENTORY RESTS AT 941.13 TONNES

OCT 14/WITH GOLD DOWN $26.50 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.16 TONNES FROM THE GLD///INVENTORY RESTS AT 944.31 TONNES

OCT 13/WITH GOLD DOWN $0.40 TODAY: A DEPOSIT OF 1.16 TONNES INTO THE GLD// CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 945.47 TONNES

OCT 12/WITH GOLD UP $4.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 944.31 TONNES

GLD INVENTORY: 913.88  TONNES

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

DEC 23/WITH SILVER UP 29 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY REST AT507.900 MILLION O//

DEC 22/WITH SILVER DOWN 53 CENTS TODAY;NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 507.90 MILLION OZ//

DEC 21/WITH SILVER DOWN 9 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.0 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 507.90 MILLION OZ//

DEC 20/WITH SILVER UP 105 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV:: A DEPOSIT OF 700,000 OZ INTO THE SLV///INVENTORY RESTS AT 509.90 MILLION OZ//

DEC 19/WITH SILVER DOWN 13 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.05 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 509.20 MILLION OZ//

DEC 16/WITH SILVER UP 2 CENTS; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.85 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 508.15 MILLION OZ//

DEC 15/WITH SILVER DOWN 78 CENTS: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF EXACTLY 2.00 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 510.000 MILLION OZ

DEC 14/WITH SILVER UP 7 CENTS: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.7 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 512.000 MILLION OZ//

DEC 13/WITH SILVER UP 59 CENTS: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 600,000 OZ FROM THE SLV////INVENTORY RESTS AT 513.900 MILLION OZ//

DEC 12/WITH SILVER DOWN 33 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 514.500 MILLION OZ//

DEC 9/WITH SILVER RISING 77 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.2 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 514.500 MILLION OZ.

DEC 8/WITH SILVER RISING 34 CENTS TODAY: OVER THE PAST 3 WEEKS, WE HAVE GAINED A STRONG: 44.777 MILLION OZ/INVENTORY RESTS AT 516.700 MILION OZ.

NOV 14/WITH SILVER UP 41 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 471.923 MILLION OZ//

NOV 11/WITH SILVER DOWN 2 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 553,000 OZ FROM THE SLV///INVENTORY RESTS AT 471.923 MILLION OZ//

NOV 10/WITH SILVER UP 39 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV; A DEPOSIT OF 368,000 OZ INTO THE SLV///INVENTORY RESTS AT 472.476 MILLION OZ//

NOV 9/WITH SILVER DOWN 10 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV/; A WITHDRAWAL OF 3.821 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 472.108 MILLION OZ//

NOV 8/WITH SILVER UP 48 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.751 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 475.929 MILLION OZ//

NOV 7/WITH SILVER UP 12 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 477.678 MILLION OZ//

NOV 4/WITH SILVER UP $1.31 TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.972 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 477.678 MILLION OZ//

NOV 3.WITH SILVER DOWN 16 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 566,000 OZ FROM THE SLV////INVENTORY RESTS AT 482.650 MILLION OZ//

NOV 2/WITH SILVER DOWN 9 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 92,000 OZ FROM THE SLV////INVENTORY RESTS AT 483.216 MILLION OZ//

NOV 1/WITH SILVER UP 53 CENTS TODAY:SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 415,000 OZ FORM THE SLV////INVENTORY RESTS AT 483.308 MILLION OZ

OCT 31: WITH SILVER FLAT: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF .644 MILLION OZ FROM THE SLV/INVENTORY RESTS AT 483.723 MILLION OZ//

OCT 28/WITH SILVER DOWN 35 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 276,000 OZ INTO THE SLV////INVENTORY RESTS AT 484.367 MILLION OZ//

OCT 27/WITH SILVER UP 3 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE S: A WITHDRAWAL OF 2.579 MILLION OZ FROMTHE SLV/////INVENTORY RESTS AT 484.091 MILLION OZ//

OCT 26/WITH SILVER UP 11 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.013 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 486.670 MILLION OZ./.

OCT 25/WITH SILVER UP 17 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.083 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 487.683 MILLION OZ/

OCT 24/WITH SILVER UP 6 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF .553 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 485.610 MILLION OZ//

OCT 21/WITH SILVER UP 43 CENTS: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF .46 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 486.163MILLION OZ//

OCT 20/WITH SILVER UP 33 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF .921 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 485.703 MILLION OZ//

OCT 19/WITH SILVER DOWN 27 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.105 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 486.624 MILLION OZ///

OCT 18/WITH SILVER DOWN 5 CENTS:BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.658 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 487.729 MILLION OZ///

OCT 17/WITH SILVER UP 53 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.151 MILLION OZ INTO THE SLV////INVENTORY REST AT 486.071 MILLION OZ//

OCT 14/WITH SILVER DOWN 77 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.211 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 484.920 MILLION OZ//

OCT 13/WITH SILVER DOWN 2 CENTS TODAY: BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.513 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 482.709 MILLION OZ//

CLOSING INVENTORY 507.90 MILLION OZ//

PHYSICAL GOLD/SILVER STORIES

1:Peter Schiff 

end

2 Lawrie Williams//Pam and Russ Martens/Jim Rickards/Mathew Piepenburg/Von Greyerz//Rickards:

Jim Rickards: Paul Volcker’s Historic Mistake

FRIDAY, DEC 23, 2022 – 11:48 AM

Authored by James Rickards via DailyReckoning.com,

I’ve frequently said that forecasting Fed policy is easy. The Fed actually tells you what they plan to do in advance. This is the “no drama” Fed.

All you have to do is listen to what they say and believe them. They don’t want to surprise markets or trigger any unexpected volatility. So they signal in advance and move accordingly.

In reality, there’s a bit more to it than that.

The Fed also signals through leaks to chosen reporters. You need to know which reporters are the chosen ones and what publications they write for. The Fed also rotates to new reporters from time to time so you have to be alert to any shifts.

Still, it’s easy to know what’s coming if you know where to look and who to listen to.

The hard part is knowing when the Fed is on the wrong course (they usually are) and when they will realize it (usually too late). Based on that, you can forecast how much harm the Fed will do and how badly the economy will be damaged before the Fed changes course.

That’s more difficult and the timing can be tricky, but that’s the real art of Fed forecasting.

Sorry, Wall Street

With all that said, the Fed has announced two policies: The first is that they raised interest rates 0.50% on December 14. The second is that they may continue raising rates for much longer than the market expects.

The market keeps trying to rally on the Fed pivot narrative of lower rates, while Powell keeps trying to steer markets away from that narrative with his speeches.

For example, stocks got a lift on Friday, December 2 when the November employment report showed declining real wages, declining hours worked, and declining labor force participation.

The bulls cheered because that negative bit of news seemed to confirm their view that rate cuts are on the way. But it didn’t last.

Powell has maintained a hawkish stance in a series of four high-profile speeches (August 26, September 21, November 2, and November 30), and now through press leaks.

Powell’s Not Done

I believe we should expect at least two more rate hikes. My estimate is a 0.50% rate hike on February 1, 2023 and a 0.25% rate hike on March 22. Those are the dates of the next two FOMC meetings.

There’s another meeting on May 3. It’s too soon to form a good estimate of what the Fed will do in May, but Powell has not ruled out another rate hike then.

But the economy will suffer a severe recession due to the rate hikes, and probably soon. Since the impact of monetary policy on the economy generally has a lag of maybe nine months to a year, we can expect the economy to be impacted by last year’s aggressive rate hikes in Q1 and Q2 of this year.

But once we’re in a recession, rate cuts won’t do any good. Nor will QE. The recession will happen in a context of higher energy prices, supply chain disruption (it’s baaack), and a Chinese collapse. Good luck getting through that. In this scenario, Goldilocks gets eaten by the bears.

The Fed will slam on the brakes on rate hikes and will probably have to cut rates by next June. Why won’t he cut rates sooner?

The Volcker Mistake

Jay Powell does not want to repeat the mistake of Paul Volcker, who also fought inflation with rate hikes, but cut rates too early and came to regret it.

When Paul Volcker was appointed Fed Chair in 1979, he immediately set about ending the worst inflation the U.S. has seen since the end of World War II by raising rates.

Then the U.S. was hit with a recession in January 1980.

Unemployment rose to 7%. Inflation was still 14.7% in April 1980, but Volcker was under intense pressure to cut rates in the face of a recession and layoffs.

The Fed blinked. Volcker lowered the fed funds target rate by 7 percentage points.

The recession was over by July 1980, but inflation was not. Inflation at the end of 1980 was still over 12%. The Fed and Volcker had damaged their credibility as inflation fighters.

This became known as the infamous Volcker Mistake.

From there Volcker doubled down. Because of the credibility damage from the Volcker Mistake, interest rates had to go even higher. It was in this stretch that the fed funds target rate hit 20% in June 1981.

This extreme level triggered another recession in July 1981, the second in two years. The 1981 – 1982 recession was the worst since the end of World War II, and interest rates were still 15% in the middle of 1982.

The severity of that recession was not surpassed until the global financial crisis of 2008.

The point is that when Volcker lowered rates in 1980, the job of beating inflation was not done. Inflation went even higher and Volcker had to take even more extreme measures finally to get it under control.

“The Lesson for the Fed Today Is Obvious”

If Volcker had ignored the 1980 recession, inflation might have come down by 1981. Instead, it lasted until 1983 and was only defeated by a recession worse than the one Volcker was initially worried about.

The lesson for the Fed today is obvious.

The Fed first ignored inflation in mid-2021 by calling it transitory. At the time, the Fed’s policy rate was 0%. The Fed’s battle against inflation began in March 2022 with a rate hike of 0.25%.

Inflation rose at an annualized rate of 9.1% in June 2022, 8.5% in July, 8.3% in August, 8.2% in September, and 7.7% in October. In other words, inflation is coming down but at a painfully slow pace.

The problem is that Powell may soon find himself facing exactly the dilemma that Volcker faced in May 1980 – the mission to lower inflation is not finished, but higher unemployment and a recession create enormous pressure to lower interest rates.

The question for market observers and investors is: Will Jay Powell blink the way Volcker did in 1980? Will the Fed cut rates in a recession or keep up the inflation fight until it’s over?

Powell Doesn’t Want to Repeat the Volcker Mistake

The answer begins with the fact that Jay Powell does not want to repeat the Volcker Mistake. He knows how that turned out and doesn’t want to end up in the history books for the same thing.

That means rate hikes will continue until March 2023 and possibly May, even in the face of declining growth and falling inflation. The Fed may pivot by June, but it will be too late.

The recession will already be here — and Powell will have some really hard choices to make.

END

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

Interesting: suddenly many are hunting for alternatives to the USA dollar

(Bloomberg News/GATA)

Suddenly everyone is hunting for alternatives to the U.S. dollar

Submitted by admin on Thu, 2022-12-22 10:22Section: Daily Dispatches

Didn’t the world once use some kind of metal with monetary properties? Is that still around?

* * *

By Michelle Jamrisko and Ruth Carson
Bloomberg News
via Yahoo News, Sunnyvale, California
Wednesday, December 21, 2022

King Dollar is facing a revolt. 

Tired of a too-strong and newly weaponized greenback, some of the world’s biggest economies are exploring ways to circumvent the US currency. 

Smaller nations, including at least a dozen in Asia, are also experimenting with de-dollarization. And corporates around the world are selling an unprecedented portion of their debt in local currencies, wary of further dollar strength.

No one is saying the greenback will be dethroned any time soon from its reign as the principal medium of exchange. Calls for “peak dollar” have many times proven premature. But not too long ago it was almost unthinkable for countries to explore payment mechanisms that bypassed the US currency or the SWIFT network that underpins the global financial system. 

Now, the sheer strength of the dollar, its use under President Joe Biden to enforce sanctions on Russia this year, and new technological innovations are together encouraging nations to start chipping away at its hegemony. Treasury officials declined to comment on these developments.

“This will simply intensify the efforts in Russia and China to try to manage their part of the world economy without the dollar,” said Paul Tucker, a former deputy governor of the Bank of England in a Bloomberg podcast.

Writing in a newsletter last week, John Mauldin, an investment strategist and president of Millennium Wave Advisors with more than three decades of markets experience said the Biden administration made an error in weaponizing the US dollar and the global payment system. 

“That will force non-US investors and nations to diversify their holdings outside of the traditional safe haven of the U.S.,” said Mauldin. …

… For the remainder of the report:

https://www.yahoo.com/now/suddenly-everyone-hunting-alternatives-us-130000587.html

END

How foolish can one get?

(Peter Hobson/Reuters)

Russian gold was removed from some Western funds after Ukraine war

Submitted by admin on Thu, 2022-12-22 10:42Section: Daily Dispatches

By Peter Hobson
Reuters
Wednesday, December 21, 2022

LONDON — Hidden inside high-security bank vaults in London, Zurich, and New York, billions of dollars’ worth of gold of Russian origin has quietly changed hands in recent months in response to Moscow’s invasion of Ukraine.

Data from 11 Western investment funds show that Russian bullion worth a total of $2.2 billion at current prices was removed from their accounts between July and November.

Funds storing gold have shrunk in recent months as rising interest rates triggered disinvestment from bullion.

But the data, compiled by Reuters, shows Russian gold being removed at a significantly faster pace than that from other countries. 

For the remainder of the report:

https://www.reuters.com/markets/commodities/russian-gold-removed-some-western-funds-after-ukraine-2022-12-2

END

Your weekend reading material:

Alasdair Macleod…

Alasdair Macleod: Inflation, recession, and declining U.S. hegemony

Submitted by admin on Thu, 2022-12-22 11:32Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, December 22, 2022

In the distant future we might look back on 2022 and 2023 as pivotal years. 

So far we have seen the conflict between America and the two Asian hegemons emerge into the open, leading to a self-inflicted energy crisis on the western alliance. The 40-year trend of declining interest rates has ended, replaced by a new rising trend, the full consequences and duration of which are as yet unknown.

The Western alliance enters the New Year with increasing fears of recession. Monetary policy makers face an acute dilemma: Do they prioritize inflation of prices by raising interest rates, or do they lean toward yet more monetary stimulation to ensure that financial markets stabilise, their economies do not suffer recession, and government finances are not driven into crisis?

This is the conundrum that will play out in 2023 for the U.S., U.K., E.U., Japan, and others in the alliance camp. 

But economic conditions are starkly different in continental Asia. 

China is showing the early stages of making an economic comeback. Russia’s economy has not been badly damaged by sanctions, as the Western media would have us believe. All members of Asian trade organisations are enjoying the benefits of cheap oil and gas while the Western alliance turns its back on fossil fuels.

The message sent to Saudi Arabia, the Gulf Cooperation Council, and even to OPEC+ is that their future markets are with the Asian hegemons. Predictably, they are all gravitating into this camp. They are abandoning the American-led sphere of influence.

The year 2023 will see the consequences of Saudi Arabia ending the petrodollar. Energy exporters are feeling their way toward new commercial arrangements in a bid to replace yesterday’s dollar. There’s talk of a new Asian trade settlement currency. 

But we can expect oil exports to be offset by inward investment, particularly between Saudi Arabia, the GCC, and China. The most obvious surplus emerging in 2023 is of internationally held dollars, whose use value is set to drop away, leaving it as an empty shell. 

It amounts to a perfect storm for the dollar, and all those who sail with it.

Those of us who live long enough to look back on these years are likely to find them to have been pivotal for both currencies and global alliances. They will likely mark the end of Western supremacy and the emergence of a new, Asian economic domination. …

… For the remainder of the analysis:

https://www.goldmoney.com/research/inflation-recession-and-declining-us-hegemony?gmrefcode=gata

GOLD/SILVER

/4.  OTHER PHYSICAL SILVER/GOLD COMMENTARIES

Andrew Maguire goes mainstream

must view…

Thanks H! BTW was on Mainstream news here in the UK yesterday talking manipulation and why Gold and Silver are money. The Zalenski Biden meeting came in live as we did it so we had to shorten it. However, we can go deeper down the rabbit hole in an upcoming slot shortly 

5. Commodity commentaries//

END

6/CRYPTOCURRENCIES/BITCOIN ETC

END

1. YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS//

FRIDAY MORNING.7:30 AM

ONSHORE YUAN: DOWN TO  6.9853

OFFSHORE YUAN: 6.9935

SHANGHAI CLOSED DOWN 8.56 PTS OR  0.28%

HANG SANG CLOSED DOWN 86.16 OR 0.44% 

2. Nikkei closed DOWN  272,62  PTS OR 1.03%

3. Europe stocks   SO FAR:  MOSTLY GREEN

USA dollar INDEX DOWN TO  103.93 Euro RISES TO 106.16 UP 16 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +.370!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 132.69/JAPANESE YEN RISING AS WELL AS LONG TERM 10  YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK.

3c Nikkei now  ABOVE 17,000

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

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

3f Japan is to buy the 9 TRILLION YEN’S worth of BONDS. Japan’s GDP equals 5 trillion usa

Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt. 

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund UP TO +2.385%***/Italian 10 Yr bond yield RISES to 4.495%*** /SPAIN 10 YR BOND YIELD RISES TO 3.451…** DANGEROUS//

3i Greek 10 year bond yield RISES TO 4.529//

3j Gold at $1797.80//silver at: 23.72  7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble UP 0  AND 8/100        roubles/dollar; ROUBLE AT 69.04//

3m oil into the 79 dollar handle for WTI and  82 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 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 132.69 

30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.9296– as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9868 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

USA 10 YR BOND YIELD: 3.712% UP 4 BASIS PTS…GETTING DANGEROUS

USA 30 YR BOND YIELD: 3.779% UP 6 BASIS PTS//

USA DOLLAR VS TURKISH LIRA: 18,69…

GREAT BRITAIN/10 YEAR YIELD: 3.662 % UP 1 BASIS PTS

end

i.b  Overnight:  Newsquawk and Zero hedge:

 FIRST, ZEROHEDGE (PRE USA OPENING// MORNING

Futures Tick Higher Ahead Of Key PCE Print

FRIDAY, DEC 23, 2022 – 08:03 AM

US stock futures edged higher after Thursday’s slump as investors weighed strong job data and prospects of further policy tightening to cool inflation ahead of today’s closely watched core PCE print which may reverse the negative sentiment (especially if it comes at 4.5% Y/Y or lower) and send stocks sharply higher (see here for more). Contracts on the Nasdaq 100 and the S&P 500 gained 0.3% by 7:30 am ET one day after the S&P 500 cash index plunged 1.5% on Thursday and was set for a third consecutive weekly loss, the longest losing streak since September. The index is also on pace for its second-worst December on record, while the Nasdaq 100 is on course for its steepest slump in the month since 2002.

In premarket trading Friday, Tesla Inc. shares rose after Elon Musk said he isn’t planning to sell any more shares for two years. Meme stock AMC Entertainment slid after the movie theater chain operator proposed converting preferred equity units into common shares. Meanwhile, avocado supplier Mission Produce reported fiscal fourth-quarter revenue and adjusted earnings per share that missed the average analyst estimates and predicted lower pricing in the first quarter.

Sentiment on Wall Street took a hit Thursday as jobless claims came in lower than expected, signaling the Federal Reserve has more work to do on inflation, while earnings disappointments sparked fears among investors of a recession. Technically, the set up isn’t looking good, according to Bloomberg intelligence strategist Gina Martin Adams, with a descent in equities that began at the start of 2022 looking set to persist into early 2023. “Momentum and breadth remain weak and industry cues hint at a prolonged struggle,” she wrote in a note.

With stocks sliding, global equity funds saw record weekly outflows of almost $42 billion in the week to Dec. 21, which were largely driven by US stock funds shedding $37 billion of assets, according to EPFR Global data. The outflows were mostly due to seasonal redemptions from US ETFs, Citigroup strategists said. And as a catastrophic year for stocks draws to a close, investors have also had a warning from strategists that they should brace for more pain heading into 2023.

“I think it’s going to be a very difficult year,” said James Athey, investment director at Abrdn. “The fact of the matter is that there’s been a significant monetary tightening we haven’t seen in a long time,” he said. “The effect of that on a global economy which is drowning in debt is highly likely to be deleterious.”

“Markets are in a state of flux at the moment, we have quite high inflation and interest rates that don’t quite seem able to catch up,” Richard Harris, chief executive officer at Port Shelter Investment Management, said in an interview on Bloomberg TV.  “You have to be careful with equities, but they are still a better bet than bonds at the moment.”

Notable headlines overnight: 

• Joe Biden said it will take time to get inflation back to normal levels, according to Yahoo News.
• Tesla CEO Musk said he will not sell any more Tesla stock for at least 18-24 months; waiting to see the extent of a recession before share buybacks, via Twitter Space. Musk said the economy will be in a “serious recession” in 2023, and demand will be lower.

Investors are now awaiting the PCE deflator, a key inflation measure tracked by the Fed. Analysts polled by Bloomberg expect a year-on-year 5.5% headline print, slowing from October’s 6%.

In Europe, the Stoxx 600 was on the rise, led by real estate, basic resources and retail stocks, and was headed for the first weekly gain in three as risk appetite returned before the Christmas holiday.

Earlier in the session, Asian stocks fell, on track for a second-straight weekly loss on concerns about aggressive US interest-rate hikes and the spread of the coronavirus in China. The MSCI Asia Pacific Index fell as much as 1.2%, with technology and energy stocks falling the most and dragging down South Korean and Taiwanese benchmarks. Trading was thin in much of the region ahead of year-end holidays.  US economic growth in the third quarter was firmer than previously estimated, pushing a pause in the Federal Reserve’s policy tightening further out of reach. Investors are also wary that the core PCE deflator — a key US inflation measure — due later Friday may add to reasons for tighter policy. Meantime, a weaker sales outlook by memory maker Micron weighed on the chip sector. Friday’s decline put the MSCI Asia gauge on track for a 0.6% loss this week. While some strategists are optimistic that the year ahead could bring a rally after this year’s double-digit drop, the first half of 2023 looks riddled with challenges to profits as the global economy slows down and China’s path to reopening remains uncertain

“The Grinch selloff is firmly in place after Micron delivered a gloomy outlook and as better-than-expected US economic data supported the Fed’s case for more ongoing rate increases,” Edward Moya, a senior market analyst at Oanda, wrote in a note. “Global coordinated central bank tightening has yet to fully impact most of the economic readings for the major economies and that should have investors nervous over earnings downgrades and credit risks.” Key measures of Hong Kong and mainland stocks fell as the market digested China’s rising infection numbers and a sharp slowdown in economic activity.

Japan’s Nikkei 225 posted its worst week since June on fears that the Bank of Japan has begun to exit its easy-money policy.  On Friday, Japanese stocks declined as resilient US economic data renewed investor worries that the Federal Reserve will continue raising interest rates aggressively. The Topix fell 0.5% to close at 1,897.94, while the Nikkei declined 1% to 26,235.25. Toyota Motor Corp. contributed the most to the Topix decline, decreasing 1.2%. Out of 2,162 stocks in the index, 677 rose and 1,384 fell, while 101 were unchanged. US Third-Quarter GDP Revised Higher to 3.2% on Firmer Spending “How long the Fed maintains its hawkish stance will depend on inflation,” said Tatsushi Maeno, a senior strategist at Okasan Asset Management. “There may be a mood of restrained buying ahead of the US PCE data this evening,” which could provide the next clue on the Fed’s moves

In Fx, the Bloomberg Dollar Spot Index weakened for first time in three days. The dollar pulled back against a basket of currencies and was headed for a weekly decline, having risen for the two previous weeks. The yen firmed, bringing this week’s gains to almost 3%, thanks to the Bank of Japan’s sudden hawkish policy pivot announced on Tuesday.

In rates, Treasury yields grind higher, following similar price action in bunds where ECB hike premium has edged up over early London session on no immediate catalyst. US session focus includes a busy data slate which includes PCE deflator and University of Michigan sentiment. Early 2pm New York close for cash Treasuries, recommended by SIFMA. US 10-year yields around 3.71%, cheaper by 3bp vs. Thursday close and trading broadly inline with bunds and gilts. 2-year TSY yields are steady at 4.27% while 10-year yields gain 1.1bps to 3.69%. In Thursday’s trading session yields rose after stronger-than expected US economic data with 2-year tenor gaining 5bps while 10-year finished up 2bps. Spreads pare portion of Thursday’s flattening move with Treasury 2s10s, 5s30s curves steeper by 1.4bp and 1.2bp on the day.

In commodities, crude oil is firmer with WTI & Brent up by roughly $2.0/bbl, with WTI needing another USD 1.00/bbl of upside to test Thursday’s WTD peak of USD 79.90/bbl; early on Friday Russia said it could cut oil output by 5-7% early next year as a response to the Western price caps, according to RIA citing Deputy PM Novak;  Spot gold/silver are incrementally firmer given the Dollar continues to languish, though the yellow metal remains capped by USD 1800/oz and as such is well within recent ranges.

Looking at today’s busy calendar slate, we get Personal income and spending as well as the Fed’s favorite inflation metric, core PCE; we also get Durable Capital goods and new orders as well as the UMichigan sentiment indicator and new home sales.

Market Snapshot

• S&P 500 futures little changed at 3,848.50
• MXAP down 1.0% to 155.37
• MXAPJ down 1.1% to 503.74
• Nikkei down 1.0% to 26,235.25
• Topix down 0.5% to 1,897.94
• Hang Seng Index down 0.4% to 19,593.06
• Shanghai Composite down 0.3% to 3,045.87
• Sensex down 1.6% to 59,868.93
• Australia S&P/ASX 200 down 0.6% to 7,107.69
• Kospi down 1.8% to 2,313.69
• STOXX Europe 600 up 0.3% to 428.34
• German 10Y yield little changed at 2.40%
• Euro little changed at $1.0600
• Brent Futures up 1.8% to $82.45/bbl
• Gold spot up 0.2% to $1,796.18
• U.S. Dollar Index little changed at 104.37

Top Overnight News from Bloomberg

• Oil Pushes Higher as Russia May Cut Output in Response to Cap
• Jan. 6 Panel Releases Report Blasting Trump for Capitol Assault
• Tencent Rant, Sea Pay Freeze Hint at Deepening Gaming Crisis
• Sea Dives After Pay Freeze, Bonus Cuts Suggest Tougher 2023
• Biogen’s ALS Drug Raises Stakes in War Over Fast Drug Approvals
• Trump Asked About Using Troops on Protesters, Esper Told Panel
• Bankman-Fried’s $250 Million Bail Doesn’t Mean He Has Money
• US Stocks Snap Two Days of Gains; Dollar Rises: Markets Wrap
• Tech Bulls Face Worst December in 20 Years as Fed Anxiety Grows
• Well-Timed Shorts See Value Investor Notching 40% Gains for 2022
• Storm Upends Holiday Travel, Triggers White House Warning

A more detailed look at global markets courtesy of Newsquawk

Asia-Pac stocks traded mostly lower but drifted off worst levels following a similar session stateside.  ASX 200 saw all of its sectors in the red with losses led by Tech, Energy and gold miners. Nikkei 225 was dragged lower by its industrial sector, whilst Japanese Core CPI in November rose at the fastest annual pace since 1981. Hang Seng and Shanghai Comp were mixed in which the former succumbed to the regional losses and the latter briefly moved into the green, whilst the PBoC injected a net CNY 704bln in the week via OMO – the largest weekly cash in nearly two months, according to Reuters calculations.

Top Asian News

• China reported zero new COVID deaths in the mainland on Dec 22nd vs zero a day earlier, according to Reuters.
• PBoC injected CNY 2bln via 7-day reverse repos with the rate maintained at 2.00%; injects CNY 203bln via 14-day reverse repos with the rate maintained at 2.15%; daily net injection CNY 164bln.
• PBoC injected a net CNY 704bln in the week via OMO; the largest weekly cash in nearly two months, according to Reuters calculations.
• Japanese PM Kishida could conduct a cabinet reshuffle as early as January 10th, according to ANN.
• Japanese government official said the next wave of food inflation is likely to come in February 2023; effects of government subsidies to cushion energy bills will likely start affecting CPI from February 2023, according to Reuters.
• BoJ October meeting minutes (two meetings ago): One member said the effects of BoJ’s easing may be heightening as a moderate increase in inflation expectations push down real interest rates.
• China reportedly estimates the COVID surge is affecting 37mln people per day, via Bloomberg.
• Indian Health Minister says in the next week, planning to make COVID-19 negative test report compulsory for passengers from nations with a high case load.

European bourses are marginally firmer, Euro Stoxx 50 +0.2%, with the Stoxx 600 on track to end the week with upside of circa. 0.6%. Sectors are, after a mixed open, mostly in the green though Utilities and Travel & Leisure remain incrementally softer.
Stateside, futures are similarly supported, ES +0.3%, though we await US monthly PCE metrics for another factor into the Fed’s deliberations. TSMC (TSM/2330 TT) is said to be in talks with suppliers over its first European plant, according to FT sources; Senior executives are heading to Germany early next year for discussions.

Top European News

• Janus Henderson’s New CEO To Expand In Latin America, Asia
• Meet the Improbable Stars of Turkey’s Year of Inflation Infamy
• Russia Says It May Cut Daily Oil Output by 700,000 Barrels
• Japan Begins Defense Upgrade With 26% Spending Increase for 2023
• Russia’s Novak: Decisions on Turkey Gas Hub May Be Taken in 2023
• Poland Sues EU Over Mounting Fine in Rule-of-Law Dispute

Geopolitical

• Senior Chinese Diplomat Wang Yi spoke to US Secretary of State Blinken and said US must stop supressing China’s development and should not challenge China’s red lines, according to Reuters.
• Chinese Foreign Ministry announced sanctions on Yu Maochun and Todd Stein as countermeasures to US’ sanction on two Chinese officials, citing human rights issues in Xizang (Tibet), according to Global Times.
• N. Korea has fired what could be a ballistic missile, via Japanese Coast Guard; Yonhap reports this as being a ballistic missile; landed outside of Japan’s EEZ.

FX

• Dollar wanes after GDP and IJC boost as the focus switches to PCE amidst a partial recovery in risk appetite, DXY roams from 104.160 to 104.510.
• Kiwi claws back losses vs Aussie and Buck as AUD/NZD retreats through 1.0650, NZD/USD breaches 200 DMA and AUD/USD scales 100 DMA with a slight lag.
• Pound, Euro and Loonie take advantage of softer Greenback, but Yen hampered by high yields, Cable firmer on 1.2000 handle, EUR/USD resilient around 1.0600, USD/CAD probing 1.3600 and USD/JPY hovering above 132.50.
• PBoC sets USD/CNY mid-point at 6.9810 vs exp. 6.9885 (prev. 6.9713)

Fixed Income

• Debt remains in virtual freefall, with Bunds extending losses sub-135.00, Gilts towards 100.00 and the T-note rooted within a 113-09+/15+ range
• Curves re-steepen marginally as the spotlight turns to US PCE data as the last potential macro market mover before the Xmas break

Commodities

• Crude benchmarks are firmer on the session with magnitudes more pronounced than across other asset classes; currently, WTI & Brent Fed’23 are firmer by just shy of USD 2.0/bbl, with WTI needing another USD 1.00/bbl of upside to test Thursday’s WTD peak of USD 79.90/bbl.
• Spot gold/silver are incrementally firmer given the Dollar continues to languish, though the yellow metal remains capped by USD 1800/oz and as such is well within recent ranges.
• Russia could cut oil output by 5-7% early next year as a response to the Western price caps, according to RIA citing Deputy PM Novak; Russia may cut oil output by 500-700k BPD, according to Tass citing Deputy PM Novak
• Colorado Interstate Gas Co. declared force majeure at CIG Wamsutter compressor station, according to Reuters.
• Phillips 66 (PSX) Wood River, Illinois (380k BPD) refinery reports a unit upset.

US Event Calendar

• 08:30: Nov. Durable Goods Orders, est. -1.0%, prior 1.1%; -Less Transportation, est. 0%, prior 0.5%
  • Cap Goods Orders Nondef Ex Air, est. 0%, prior 0.6%
  • Cap Goods Ship Nondef Ex Air, est. -0.3%, prior 1.5%
• 08:30: Nov. Personal Income, est. 0.3%, prior 0.7%
  • Personal Spending, est. 0.2%, prior 0.8%
  • Real Personal Spending, est. 0.1%, prior 0.5%
• 08:30: Nov. PCE Deflator MoM, est. 0.1%, prior 0.3%
  • PCE Deflator YoY, est. 5.5%, prior 6.0%
  • PCE Core Deflator MoM, est. 0.2%, prior 0.2%
  • PCE Core Deflator YoY, est. 4.6%, prior 5.0%
• 10:00: Dec. U. of Mich. Sentiment, est. 59.1, prior 59.1
• U. of Mich. Current Conditions, est. 60.3, prior 60.2
  • U. of Mich. Expectations, est. 58.5, prior 58.4
  • U. of Mich. 1 Yr Inflation, est. 4.6%, prior 4.6%; 5-10 Yr Inflation, est. 3.0%, prior 3.0%
• 10:00: Nov. New Home Sales, est. 600,000, prior 632,000
  • Nov. New Home Sales MoM, est. -5.1%, prior 7.5%

AND NOW NEWSQUAWK (EUROPE/REPORT)

Debt continues to falter and crude inches higher in limited trade – Newsquawk US Market Open

FRIDAY, DEC 23, 2022 – 06:13 AM

• European bourses are marginally firmer, Euro Stoxx 50 +0.2%, with the Stoxx 600 on track to end the week with upside of circa. 0.6%.
• Stateside, futures are similarly supported, ES +0.3%, though we await US monthly PCE metrics for another factor into the Fed’s deliberations.
• Dollar has waned with peers taking advantage with debt continuing to decline and curves re-steepening
• Crude benchmarks are firmer and eclipsing other assets following the latest updates from Russia and N. Korea
• Looking ahead, highlights include US monthly PCE, Canadian GDP, US University of Michigan Survey.

View the full premarket movers and news report.

Or why not try Newsquawk’s squawk box free for 7 days?

EUROPEAN TRADE

EQUITIES

• European bourses are marginally firmer, Euro Stoxx 50 +0.2%, with the Stoxx 600 on track to end the week with upside of circa. 0.6%.
• Sectors are, after a mixed open, mostly in the green though Utilities and Travel & Leisure remain incrementally softer.
• Stateside, futures are similarly supported, ES +0.3%, though we await US monthly PCE metrics for another factor into the Fed’s deliberations.
• TSMC (TSM/2330 TT) is said to be in talks with suppliers over its first European plant, according to FT sources; Senior executives are heading to Germany early next year for discussions.
• Click here for more detail.

FX

• Dollar wanes after GDP and IJC boost as the focus switches to PCE amidst a partial recovery in risk appetite, DXY roams from 104.160 to 104.510.
• Kiwi claws back losses vs Aussie and Buck as AUD/NZD retreats through 1.0650, NZD/USD breaches 200 DMA and AUD/USD scales 100 DMA with a slight lag.
• Pound, Euro and Loonie take advantage of softer Greenback, but Yen hampered by high yields, Cable firmer on 1.2000 handle, EUR/USD resilient around 1.0600, USD/CAD probing 1.3600 and USD/JPY hovering above 132.50.
• PBoC sets USD/CNY mid-point at 6.9810 vs exp. 6.9885 (prev. 6.9713)
• Click here for more detail.

Notable FX Expiries, NY Cut:

• Click here

FIXED INCOME

• Debt remains in virtual freefall, with Bunds extending losses sub-135.00, Gilts towards 100.00 and the T-note rooted within a 113-09+/15+ range
• Curves re-steepen marginally as the spotlight turns to US PCE data as the last potential macro market mover before the Xmas break
• Click here for more detail.

COMMODITIES

• Crude benchmarks are firmer on the session with magnitudes more pronounced than across other asset classes; currently, WTI & Brent Fed’23 are firmer by just shy of USD 2.0/bbl, with WTI needing another USD 1.00/bbl of upside to test Thursday’s WTD peak of USD 79.90/bbl.
• Spot gold/silver are incrementally firmer given the Dollar continues to languish, though the yellow metal remains capped by USD 1800/oz and as such is well within recent ranges.
• Russia could cut oil output by 5-7% early next year as a response to the Western price caps, according to RIA citing Deputy PM Novak; Russia may cut oil output by 500-700k BPD, according to Tass citing Deputy PM Novak
• Colorado Interstate Gas Co. declared force majeure at CIG Wamsutter compressor station, according to Reuters.
• Phillips 66 (PSX) Wood River, Illinois (380k BPD) refinery reports a unit upset.
• Click here for more detail.

NOTABLE HEADLINES

• US President Biden said it will take time to get inflation back to normal levels, according to Yahoo News.
• Tesla (TSLA) CEO Musk said he will not sell any more Tesla stock for at least 18-24 months; waiting to see the extent of a recession before share buybacks, via Twitter Space. Musk said the economy will be in a “serious recession” in 2023, and demand will be lower.

CRYPTO

• Bitcoin is marginally firmer, perhaps taking cues from the USD’s pressure, though remains within limited sub-USD 200 parameters.

GEOPOLITICAL

• Senior Chinese Diplomat Wang Yi spoke to US Secretary of State Blinken and said US must stop supressing China’s development and should not challenge China’s red lines, according to Reuters.
• Chinese Foreign Ministry announced sanctions on Yu Maochun and Todd Stein as countermeasures to US’ sanction on two Chinese officials, citing human rights issues in Xizang (Tibet), according to Global Times.
• N. Korea has fired what could be a ballistic missile, via Japanese Coast Guard; Yonhap reports this as being a ballistic missile; landed outside of Japan’s EEZ.

APAC TRADE

EQUITIES

• APAC stocks traded mostly lower but drifted off worst levels following a similar session stateside.
• ASX 200 saw all of its sectors in the red with losses led by Tech, Energy and gold miners.
• Nikkei 225 was dragged lower by its industrial sector, whilst Japanese Core CPI in November rose at the fastest annual pace since 1981.
• Hang Seng and Shanghai Comp were mixed in which the former succumbed to the regional losses and the latter briefly moved into the green, whilst the PBoC injected a net CNY 704bln in the week via OMO – the largest weekly cash in nearly two months, according to Reuters calculations.

NOTABLE ASIA-PAC HEADLINES

• China reported zero new COVID deaths in the mainland on Dec 22nd vs zero a day earlier, according to Reuters.
• PBoC injected CNY 2bln via 7-day reverse repos with the rate maintained at 2.00%; injects CNY 203bln via 14-day reverse repos with the rate maintained at 2.15%; daily net injection CNY 164bln.
• PBoC injected a net CNY 704bln in the week via OMO; the largest weekly cash in nearly two months, according to Reuters calculations.
• Japanese PM Kishida could conduct a cabinet reshuffle as early as January 10th, according to ANN.
• Japanese government official said the next wave of food inflation is likely to come in February 2023; effects of government subsidies to cushion energy bills will likely start affecting CPI from February 2023, according to Reuters.
• BoJ October meeting minutes (two meetings ago): One member said the effects of BoJ’s easing may be heightening as a moderate increase in inflation expectations push down real interest rates.
• China reportedly estimates the COVID surge is affecting 37mln people per day, via Bloomberg.
• Indian Health Minister says in the next week, planning to make COVID-19 negative test report compulsory for passengers from nations with a high case load.

DATA RECAP

• Japanese CPI, Core Nationwide YY (Nov) 3.7% vs. Exp. 3.7% (Prev. 3.6%); fastest annual pace since 1981
• Japanese CPI, Overall Nationwide (Nov) 3.8% (Prev. 3.7%)
• Australian Housing Credit (Nov) 0.4% (Prev. 0.4%); Private Sector Credit (Nov) 0.5% (Prev. 0.6%)

1.c FRIDAY/  THURSDAY  NIGHT

SHANGHAI CLOSED DOWN 8.56 PTS OR 0.28%   //Hang Sang CLOSED DOWN 272.62 OR 1.03%    /The Nikkei closed DOWN 272.62 OR 1.03%          //Australia’s all ordinaries CLOSED DOWN  0.65%   /Chinese yuan (ONSHORE) closed DOWN TO 6.9853//OFFSHORE CHINESE YUAN DOWN TO 6.9955//    /Oil DOWN TO 79.09 dollars per barrel for WTI and BRENT AT 82.65    / Stocks in Europe OPENED MOSTLY GREEN (EXCEPT FRANCE).        ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

2 a./NORTH KOREA/ SOUTH KOREA/

///NORTH KOREA/RUSSIA

North Korea is supplying arms to Russia to mercenaries (Wagner grou)

(zerohedge)

North Korea Is Supplying Russia’s Wagner Mercenaries: White House

THURSDAY, DEC 22, 2022 – 08:00 PM

After months of issuing vague allegations that North Korea is supplying Russian forces with tens of thousands of artillery shells, which both sides have denied, the Biden administration on Thursday is finally out with something specific, saying that Pyongyang has delivered arms to Wagner group.

Wagner is the notorious private military contractor whose founder is said to be close to Vladimir Putin, and dubbed in Western reports as “Putin’s chef”. Western media has long accused Wagner operatives of committing war crimes in Ukraine, and before that on deployments in Syria.

“Wagner is searching around the world for arms suppliers to support its military operations in Ukraine,” White House national security spokesman John Kirby said in a Thursday press briefing. “We can confirm that North Korea has completed an initial arms delivery to Wagner, which paid for that equipment,” he added.

Kirby described the private Russian contractor as competing for power among official Kremlin ministries, acting as a “rival” also to the established defense ministry. A number of reports lately have suggested that Wagner mercenaries have operated with impunity and separate rules of engagement in Ukraine over the last ten months.

“Wagner is emerging as a rival power center to the Russian military and other Russian ministries,” Kirby explained, also stating that Wagner is spending over $100 million each month for Ukraine operations.

While European Parliament weeks ago formally slapped a ‘terror’ label on Wagner, the US is still said to be mulling the action, also vowing to ratchet sanctions on the Putin-connected firm. 

More broadly, the White House has so far resisted calls from more hawkish corners of Congress to label Russia a state sponsor of terror, and is now said to be considering calling Russia an “aggressor state” – however, there’s no precedent for this term and it appears entirely made up by the administration in order to appease critics.

As CNN describes, “An aggressor state designation, unlike the label state sponsor of terrorism, is not an official State Department category that would trigger specific US sanctions, and critics say it would be easier for the president to rescind that designation than the state sponsor of terrorism one.”

It remains unclear at this point the precise type of weapons alleged to have been supplied to Wagner Group by the North Koreans. The broader Russian military is reportedly running low on artillery, which has been expended in the eastern and southern front lines at a rapid rate. In an official statement Pyongyang later in the evening denied the allegation. 

end

2B JAPAN

3c CHINA /

CHINA/COVID

With China abandoning its zero COVID policy, now we witness huge numbers of experts and celebrities die over there.  COVID 19 cases are flourishing as are injuries to their awful vaccine

(Lam/EpochTimes)

Dozens Of CCP-Linked Experts, Celebrities, Officials Die During Recent COVID-19 Outbreak

THURSDAY, DEC 22, 2022 – 11:00 PM

Authored by Sophia Lam via The Epoch Times (emphasis ours),

China, its capital in particular, has been hit hard by the recent wave of COVID-19 that is sweeping the country.

After dozens of professors and teachers from top Chinese universities passed away during the past 30 days, four more prominent Chinese figures have been reported to have died in the three days Sunday to Monday, respectively. They were aged from 39 to 89.

According to Shanghai-based news portal The Paper, Tsinghua University professor Wu Guanying, China Film Art Research Center’s former Chinese Communist Party (CCP) secretary Chen Jingliang, former member of the editorial board of Xinhua News Agency Fang Xuehui, and celebrated Peking Opera performer Chu Lanlan all died within the three days.

The Paper wrote that they died of illness after medical treatment failed to help them. The report didn’t specify which illness caused their deaths.

Biographies of 4 Scholars and Celebrities

Professor Wu Guanying, who died on Dec. 20 at the age of 67, was a professor of the Department of Information Art & Design at the Academy of Arts and Design of Tsinghua University. He was best known as one of the designers of the Beijing 2008 Summer Olympics mascots. He also participated in the design of many sets of stamps and gold and siver coins of the 12 Chinese zodiac animals, and was the designer of the New Year greeting series stamps.

Chen Jingliang, born in April 1946, joined the CCP in 1979, according to The Paper. He started as a translator at China Film Group Corporation in 1970 and was the former CCP secretary of the China Film Art Research Center from 1994 to 2006 when Chen retired. He was a member of China’s Film Censorship Committee, which is overseen by China’s National Radio and Television Administration. Chen died on Dec. 19 at the age of 76.

Fang Xuehui was born in December 1933 in Indonesia. He worked for the CCP’s mouthpiece Xinhua News Agency’s Jakarta regional office in the 1950s and settled down in China in 1966. He was an editor with Cankaoxiaoxi (“Reference News”), published by Xinhua News Agency, which translates and re-publishes articles by foreign news agencies. It was once only available to the CCP’s cadres and their families.

Chu Lanlan was born in 1983 and passed away on Dec. 18 at the age of 39. She worked with the CCP’s military performing arts troupe to create Peking Opera singing and dancing pieces. She performed in various performances hosted by the CCP’s Central TV and Beijing TV.

Over 30 Deaths Reported in One Month at 2 Top Chinese Universities

From Nov. 10 to Dec. 10, a total of 19 retired professors and teachers of China’s prestigious Tsinghua University reportedly died amid the most recent wave of the pandemic outbreak, as reported by China’s news portal Sina.

Huang Kezhi, a professor of Tsinghua University’s Department of Engineering Mechanics and an academician of the Chinese Academy of Sciences, died on Dec. 6 at the age of 95. Huang, a CCP member, was one of the founders of the Department of Engineering Mechanics, according to The Paper.

Tsinghua University is home to some of the most prominent alumni, including the current CCP top leader Xi Jinping, his predecessor Hu Jintao, and former Chinese premier Zhu Rongji.

On Dec. 11, an article titled “Taking the Protection of the Life and Health of Old Comrades as the Top Priority of the Current Epidemic Prevention and Control” was published on the official website of Tsinghua University, which says three working teams have been set up to guarantee the pandemic control and medical treatment of retired teachers and professors of the university. The article is reposted by Sina, a Chinese digital news portal.

Netizens checked the obituaries published by Peking University from Nov. 6 to Dec. 5 and found that 15 scholars of the university passed away during the period. Among them, 89-year-old Yang Gen, CCP member and professor of the School of Archaeology and Museology at Peking University, died on Nov. 30.

Read more here…

END

AND ON THE SAME SUBJECT:

https://www.theepochtimes.com/deaths-among-ccp-elites-rise-as-covid-wave-hits-china_4941364.html

END

CHINA/TAIWAN

China sends a huge show of force across the Taiwan strait

(zerohedge)

China Sends Huge Show Of Force Across Taiwan Strait Median Line

FRIDAY, DEC 23, 2022 – 05:45 AM

China and Taiwan tensions have been somewhat subdued compared to the weeks-long crisis following Nancy Pelosi’s August visit to the democratic island, but on Thursday Chinese military planes and warships made a huge show of force in waters off Taiwan.

The PLA military sent 39 aircraft and three warships toward Taiwan as part of new exercises that kicked off around 6am. No less than 30 of the aircraft cross the median line which serves as the de facto maritime border between the two, according to Taiwan’s military.

Taiwan’s defense ministry said it scrambled an undisclosed number of fighter jets and tracked the PLA’s movements with its defensive missile systems.

Among the large Chinese sortie included four bombers, as well as 21 fighter jets, alongside aerial support planes.

The Thursday large-scale show of force could be in response to the Biden administration being poised to drastically beef up US defense aid to Taiwan, related to the soon to be approved National Defense Authorization Act (DNAA) for 2023.

According to a Chinese defense analyst quoted in the South China Morning Post: 

US moves to establish a military training programme with Taiwan, including full-scale joint exercises, are a sign of Washington’s “malicious attitude”, according to a Chinese military analyst.

The NDAA authorizes up to $10 billion in Foreign Military Financing grants for Taiwan. And separately, the 2023 Omnibus Consolidated Appropriations Act will authorize up to $2 billion in loans enabling Taiwan to buy weapons from the US.

end

4/EUROPEAN AFFAIRS/UK AFFAIRS//

EUROPE/ECB

The ECB’s terminal rate pushes higher as officials remain hawkish

(zerohedge)

ECB Terminal Rate Pushes Higher As Officials Hammer Hawkish Message

FRIDAY, DEC 23, 2022 – 09:45 AM

Authored by Ven Ram, Bloomberg macro strategist,

The European Central Bank’s hawkish message from its policy review last week is still rippling through the markets, sending the markets’ assessment of terminal rates higher.

Interest-rate traders are factoring in a terminal rate north of 3.40%, marking an emphatic move from levels of around 2.90% being priced in around the time of the Dec. 15 meeting.

The ECB’s communication has switched tack from getting to the neutral rate to a restrictive rate, with President Christine Lagarde expressly mentioning that increases of 50 basis points would be par for the course “for a period of time.”

Vice President Luis de Guindos reinforced that message for good measure this week, underpinning the increase in terminal rates.

Source: Bloomberg

Just like the Federal Reserve that has said that its job won’t be done until its real funds rate gets to significantly positive levels, the ECB sees such a mission as the defining moment in its journey to quell inflation.

With the ECB’s own forecasts showing inflation likely to be around 6.3% in 2023 and at 3.4% in 2024, a restrictive rate would perforce take its deposit rate in the range of 3.50%-4% in this cycle.

That backdrop makes it hard to be constructive on euro-area bonds, and nowhere is this perhaps more telling than at the front end of the German curve.

Source: Bloomberg

Two-year German yields have surged more than 300 basis points this year, and from the looks of it, there may be more losses to come in the first half of 2023 as the ECB goes about its task.

end

Europe’s energy crisis is just getting started

a good commentary.

Paraskova/OilPrice.com

Europe’s Energy Crisis Is Just Getting Started

FRIDAY, DEC 23, 2022 – 03:30 AM

Authored by Tsvetana Paraskova via OilPrice.com,

• While Europe managed to fill its gas storage ahead of winter this year, it will have to import huge amounts of LNG in a competitive market to survive next winter.
• The next 12 to 24 months will be critical in establishing whether Europe can stave off a long-term energy crisis.
• According to the IEA, if Russian gas supply drops to zero and Chinese LNG demand hits 2021 levels, the EU could have a supply-demand gap of 27 billion cubic meters in 2023.

Despite successfully filling its gas storage ahead of winter this year, Europe’s energy crisis is far from over. The situation for Europe could, in fact, be worse next winter when Russian pipeline gas supply will be down to a trickle, at best.

European households and businesses have already seen a rise in total energy costs by $1.06 trillion (1 trillion euros), according to estimates by European economic think-tank Bruegel published by the International Monetary Fund (IMF). According to Bruegel’s analysts, if governments in Europe do nothing except offer financial support, and if they cover the price increases, this sum would represent a massive 6% of the annual GDP of the EU.

“Massive government support could delay adjustment to a new price equilibrium and create the need for even more support,” Bruegel’s experts say.

Instead, the EU needs a “grand bargain” to encourage savings and increase supply at the same time.

The next 12 to 24 months will determine whether Europe will be able to cope with the energy crisis without having to resort to mandatory rationing or without losing too much industry competitiveness.

Europe’s energy systems were already put to the first real test this month amid an Arctic blast that swept through most of northwestern Europe, bringing freezing temperatures, snow in the UK, and depressing wind speeds in Germany.

Natural gas storage sites in the EU started to drain, with storage at 84% as of December 17, according to Gas Infrastructure Europe. Inventories are higher than at this time last year, but the true test for Europe will come next year when it will have to refill gas storage sites adequately enough to meet the 2023/2024 winter demand.

This is where the planning becomes trickier, depending on how low inventories will be after this winter and whether the EU has the capacity to haul in continued record volumes of LNG and continue outbidding Asia, especially if demand in China rebounds after a reopening from strict Covid curbs.

With lower gas consumption and not much Russian gas flowing via pipelines, the EU has continued to cut its dependence on Russia, from around 40% of imported gas supplies before the Russian invasion of Ukraine, to less than 9%, according to EU figures from September.

However, the significant drop in Russian gas supply this year occurred only in June.

Ahead of winter 2023/2024, the gap in gas supply in Europe will be much wider without Russian gas. Europe will not be importing much Russian gas—or none at all if Russia cuts off deliveries via the one link left operational via Ukraine and via TurkStream—compared to relatively stable imports from Russia in the first half of this year before Moscow started gradually cutting volumes via Nord Stream in June and then shut down the pipeline in early September.

According to a recent report from the IEA, if Russian gas supply drops to zero and Chinese LNG demand rebounds to 2021 levels, the EU could have a gas supply-demand gap of 27 billion cubic meters in 2023.

With the plunge in Russian pipeline gas deliveries, Europe will need “huge volumes” of LNG next year, commodity trader Trafigura said earlier this month.

“Looking forward, we expect gas and LNG markets to remain volatile,” Trafigura said in its annual report for the year to September 30. 

“While Europe should avoid a blackout this winter by drawing on inventories and cutting demand, it will need to import huge volumes of LNG in 2023 given the massive reduction in flows from Russia,” Trafigura said.

Natural gas prices in Europe will have to remain elevated so that the continent can continue to attract most of the LNG cargoes in competition with the other key demand centers, according to Trafigura. The commodity trader expects Europe to prioritize the security of supply “through next winter and beyond.” 

Huge uncertainties with weather and the EU’s ability to compete with a potential increase in LNG demand in Asia will determine how Europe will fare next winter.  

“Behind us now are two months of ‘buyer’s market’ with peak inventories, warm weather, a long queue of LNG ships, and depressed TTF prices,” commodity analysts Ole Hvalbye and Bjarne Schieldrop of SEB Bank said in early December.

“Ahead of us is the huge Q1 uncertainty and at least 12 months of ‘seller’s market’ as the race is on to fill EU nat gas inventories to a satisfying level by October 2023.”   

END

Total insanity!! EU plans to impose a direct carbon tax on individuals

(Michael Snyder)

The EU Plans To Impose Direct Carbon Taxes On Individuals

FRIDAY, DEC 23, 2022 – 10:25 AM

Authored by Michael Snyder via The End of The American Dream blog,

Would you like to pay a carbon tax every time that you turn your heater on?  What about every time that you fill up your vehicle with gasoline?  Incredibly, this will soon be what life is like in Europe.  When I first heard that the EU plans to impose direct carbon taxes on individuals, I thought that it must be just another false Internet rumor.  But it isn’t a false rumor.  News sources in Europe are reporting on it, and you can find information about this plan on the official website of the European Parliament.  I don’t know why the corporate media in the United States is not talking about this, because this is an enormous story.

As I write this article, I am still in shock.  This is actually happening, and if this plan is successfully implemented in Europe it will be just a matter of time before a similar plan is pushed through in the United States.  The following comes from a Dutch article that has been translated into English…

Last night, after long negotiations, the bullet went through the church: residents of the European Union must pay for the greenhouse gases they emit. This means that every time you refuel and if the heating is switched on, you have to pay because of the harmful substances that are released as a result.

Of course they are starting small in an attempt to minimize opposition.

Once this plan goes into effect, the cost of a liter of gasoline will only go up by about 10 cents…

The new scheme will entail higher prices at the pump: up to 10.5 cents for a litre of petrol and 12 cents for diesel, according to a study by the Potsdam Institute for Climate Research.

But as we have seen so many other times, once people become accustomed to new taxes rates tend to go up significantly.

According to one prominent member of the European Parliament, the new direct carbon taxes on individuals are part of “the largest climate legislation package in the EU ever”…

“I am pleased that a balanced agreement has been reached on the largest climate legislation package in the EU ever,” says Esther de Lange (CDA) MEP. She was one of the negotiators and responsible for the coordination of the Green Deal and chief negotiator on the Social Climate Fund.

We are being told that there is broad support for this climate legislation package across the political spectrum.

Europe is scheduled to reduce carbon emissions dramatically by the year 2030, and this new legislation will be a central pillar of that effort…

The measures are part of a package of climate laws. Before 2030, CO2 emissions must be reduced by 55 percent. European industry, which already partly has to do this, will have to deal with higher emission costs, and companies from outside Europe will pay for their emissions at the border. The money raised with this can be spent on climate plans.

If you do not like this new legislation, now is the time to make your voice heard.

Personally, I pledge to make efforts to increase my carbon emissions in protest to this plan.

In fact, I am thinking about firing up my wood stove even now.

The good news, if you want to call it that, is that the new carbon taxes are not scheduled to be implemented until 2027.

So there is still time for the EU to reverse course.

Unfortunately, other draconian measures that are designed to reduce carbon emissions are going full speed ahead right now.

For example, countless farms are currently being permanently shut down all over Europe.

In the Netherlands alone, thousands of farmers are facing forced buyouts whether they like it or not…

The government in the Netherlands is planning to conduct forced buyouts of 3,000 Dutch farms with the intention of closing them down to cut nitrogen emissions in half to meet the country’s climate goals. As many as 11,200 farms will have to close, and another 17,600 farmers will have to significantly downsize their livestock operations to meet these draconian targets.

The plan could not come at a worse time because grocery prices are skyrocketing, and world leaders are warning about an oncoming food crisis caused by supply disruptions caused by the war in Ukraine and rising input costs resulting from the energy crisis.

This is literally insane.

For years, I have been warning that a global food crisis would be coming, and now it is here.

2022 was the worst year for global hunger in decades, and now the head of the International Committee of the Red Cross is warning that we will see “an enormous level of suffering” in 2023…

The head of the International Committee of the Red Cross warned Wednesday “an enormous level of suffering” awaits the world in 2023 with famine spreading.

Mirjana Spoljaric, who took over at the ICRC in October, told a Geneva press conference: “We expect an enormous level of suffering.

“As the world is trending at the moment we don’t see any easing of the humanitarian pressures, they will be immense potentially,” she said.

“There is a possibility that we will see very high levels of hunger in many parts of the world and insecurity in general.”

Shutting down farms and paying farmers not to grow food in such an environment is absolutely crazy.

But our politicians are doing it anyway.

The global food crisis is going to get substantially worse in 2023, and our leaders seem intent on imposing measures that will greatly accelerate that process.

END

5.UKRAINE RUSSIA//

UKRAINE/RUSSIA/

Russia to increase size of its military to 1.5 million troops

(Dave DeCanp/Antiwar.com)

Russia To Increase Size Of Military To 1.5 Million Troops

FRIDAY, DEC 23, 2022 – 05:00 AM

Authored by Dave DeCamp via AntiWar.com,

Russian Defense Minister Sergey Shoigu on Wednesday unveiled a plan to increase the size of Russia’s military to 1.5 million troops, an initiative backed by Russian President Vladimir Putin.

Russia had about 1 million troops in its army at the beginning of the year, and the number was supposed to reach 1.15 million next year, but Shoigu said a further increase is needed to “guarantee the fulfillment of tasks to ensure Russia’s security.” 

The increase would constitute a boost to the armed forces’ size by more than 30% if approved and enacted.

One reason for the increase that Shoigu cited was Sweden and Finland’s potential NATO membership. He said if the two Nordic nations joined the Western military alliance, Russia would have to deploy “the corresponding group of forces” to northwestern Russia.

Putin and other Russian officials have previously said that he doesn’t view Finland and Sweden joining NATO as much of a threat as Ukraine’s prospective membership, but they said Moscow would respond to the expansion of NATO military infrastructure.

Finland has an over 800-mile border with Russia, an area that will likely be reinforced by Moscow if Helsinki is admitted into NATO.

Back in September, Putin ordered the mobilization of 300,000 fresh troops for his war effort in Ukraine, and Russia has been reinforcing its positions along the frontlines in Ukraine.

Another mobilization is possible, but at this point, there’s no sign Putin hasn’t made a decision to call up more troops, and Russian officials say the current numbers are sufficient.

END

UKRAINE/GREECE

Greece under USA pressure to send its S 300 defense missiles to Ukraine

(zerohedge)

Greece Under US Pressure To Send S-300 Missiles To Ukraine

FRIDAY, DEC 23, 2022 – 02:45 AM

NATO member Greece is mulling the transfer of some of its Russia-made anti-aircraft missile systems S-300 to Ukraine, at a moment it’s reportedly under pressure from Washington step up support to Kiev. 

Previously Defense Minister Nikos Panagiotopoulos signaled that the government is mulling the S-300 delivery, but only if the US replaces these systems with Patriot anti-air defense batteries for Greece.

Currently, Athens is worried about its own defense capabilities in the face of ongoing Turkish threats and an expansionists vision echoed in Recep Tayyip Erdoğan’s bellicose rhetoric and that of his top officials. 

The other major factor causing the Greek government pause includes the repeat fierce warnings from Russia, at a moment that relations with Moscow are already said to be at an all-time low.

Russia recently warned, “We consider the provocative intentions to supply the Kiev regime with the S-300 and other Russian/Soviet-style air defense systems openly hostile to Russia,” according to the words of foreign ministry spokeswoman Maria Zakharova.

She added that any Greek-supplied foreign military equipment will be “promptly detected and destroyed by the Armed Forces of the Russian Federation.”

“Before it is too late, Greece can abandon the dangerous plans. Once again, we warn the Greek leadership of its responsibility,” she stressed.

In a separate statement the Kremlin has also recently warned that sending S-300s would be “a dangerous step towards its national interests” – in reference to Greece. 

This week State Dept. spokesman Ned Price was pressed over the issue by a journalist. He responded that “Each country should decide for itself what it is able to prepare and provide to Ukraine. And we certainly appreciate the many ways in which the international community, including Greece, has shown its support.”

On Wednesday the Biden White House signaled its desire to see other NATO countries step up and provide more for Ukraine, given Washington has already pledged some $100 billion thus far this year.

END

UKRAINE/USA

Growing opposition to funding the Ukraine war.

(Dave DeCamp/Antiwar.com)

More Than Half Of House Republicans Didn’t Attend Zelensky’s Address

FRIDAY, DEC 23, 2022 – 09:13 AM

Authored by Dave DeCamp via AntiWar.com,

More than half of House Republicans didn’t attend Ukrainian President Volodymyr Zelensky’s Wednesday night address to Congress, The Hill reported on Thursday.

According to The Hill, 86 out of 213 House Republicans were at the Capitol for Zelensky’s speech. While some of the absences could be explained by lawmakers getting an early start on Christmas travel, as about a third of House members had active letters to vote by proxy on Wednesday, there is growing opposition to the policy of arming Ukraine among Republicans.

Ahead of Zelensky’s address, Rep. Thomas Massie (R-KY) wrote on Twitter that he would not be attending the speech of a “Ukrainian lobbyist.” Some Republicans that attended the address were spotted sitting during moments when the rest of Congress was giving Zelensky a standing ovation, including Reps. Matt Gaetz (R-FL) and Lauren Boebert (R-CO).

After the speech, Boebert said in a video posted on Twitter that she wouldn’t support “sending additional money to this war” until “Congress receives a full audit of where our money has already gone.”

Gaetz released a statement that said Zelensky “should be commended for putting his country first, but American politicians who indulge his requests are unwilling to do the same for ours.” Gaetz said the speech did not change his stance on “suspending” aid to Ukraine.

Rep. Warren Davidson (R-OH), who attended the address, said the speech sent the wrong message. “We should be focused on trying to contain the war, not expand the war. And this kind of sends the message we’re kind of OK with expanding the war. And I think we should be sending a different message,” he said.

Massie, Boebert, Gaetz, Davidson, and 53 other House Republicans all voted against the $40 billion Ukraine aid bill that was passed back in May. Since then, new aid for Ukraine has been rolled into other massive spending bills, including the new $45 billion that was packed into the $1.7 trillion omnibus bill the Senate passed on Thursday.

Meanwhile, the Neocons are trying to police the Right…

While there is some dissent among Republicans, the majority of GOP members in Congress still support arming Ukraine, and Republican leadership is extremely hawkish on the issue. Rep. Michael McCaul, who is expected to lead the House Foreign Affairs Committee next year, has criticized President Biden for not sending Ukraine more advanced and longer-range weapons.

Senate Minority leader Mitch McConnell (R-KY) said this week that arming Ukraine was the “number one priority” of most Republicans in Congress as he celebrated the $1.7 trillion omnibus bill.

END

“They succeeded”: Putin paid tribute to the policy of the West – RIA Novosti, 12/22/2022

R, Hryniak	11:40 AM (0 minutes ago)
to

He is not wrong.

Sadly, this conflict will soon see a raised tempo where many ten’s of thousands will die for falsehoods and failed hegemony. Inflicting more pain on surrounding countries eager to be sacrificed for nothing but falsehoods. This increased tempo will also bring a likely direct NATO Russia confrontation as early as late January. Poland is being pushed to be ready sooner than March as the Donbas front collapses. Right now this front is being softened up before the final push. When Western Mozart mercenaries got their wish to meet Russia’s Wagner forces they retreated with 60%+ losses. Meanwhile Belarus is ready for a Polish incursion. Meanwhile 90,000 NATO troops sit ready in Romania of which 45,000 are American. If they go in there will be no hiding, as it will be a direct clash between America and Russia. And the American homeland is not exempt from receiving a blow, contrary to the illusions of DC politicians. And you wonder why Macron is nervous, he has zero creditability with Russia after Merkel’s admission is they played the Russians for time with the Minsk Accords lying to give time to equip and train Ukrainians to fight Russia as a American proxy. Neither Germany or France will be trusted.

As it is around Moscow outside of the ring roads there has been a positioning of S500 and S550 missile systems all fully operation by Sunday. The systems are multi leveled and will no doubt be ready for what is anticipated. 

As the saying goes after the first volley anything is possible. We need not wait long. Forget traveling to the surrounding areas of the Ukraine and if needed be certain to have alternative travel possibilities. There is already an exodus from Poland and Latvia. 

https://ria.ru/20221222/putin-1840376221.html

end

6/GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES

Vaccine//Covid issues: Injuries

Alarm bells going off: RSV rages on in the USA

(Cavanaugh/RealClearWire)

As RSV Rages, States Intentionally Limit Hospital Beds

THURSDAY, DEC 22, 2022 – 09:40 PM

Authored by Jaimie Cavanaugh & Daryl James via RealClear Wire,

Doctors sounded the alarm after Thanksgiving: COVID, flu and RSV cases continue to climb, creating a triple threat pushing many hospitals to capacity. The Centers for Disease Control and Prevention calls it a “perfect storm for a terrible holiday season.”

One Boston hospital reports doctors caring for patients in the hallways of emergency departments. A mother in Silver Spring, Maryland, says her 6-year-old son had to wait a week for access to an intensive care unit after he was hospitalized with RSV. Similar stories have emerged in Michigan, New Jersey and elsewhere.

What public officials rarely mention is that all of these states, and most others, intentionally limit hospital bed supply. Before health care providers can enter a market, add a wing to an existing facility or reallocate space, they must get a government permission slip called a “certificate of need” (CON). Overall, 38 states and Washington, D.C., impose some type of CON requirement.

The approval process is cumbersome, often adding months and tens of thousands of dollars to urgent projects. Sometimes the government’s final answer is no, meaning private investors cannot spend their own money to expand medical services. Patients must settle for less.

The regulations might make sense if they helped keep people safe, but CON mandates have no medical purpose. Different government groups already license doctors and nurses, approve drugs, test medical devices and set standards of care.

CON boards focus instead on money. They consider how each proposed project might affect the bottom line of existing health care providers. Many states even allow incumbents to intervene on their own behalf, attacking the applications of potential direct competitors.

If states took a similar approach in other industries, McDonald’s could stop mom-and-pop burger joints from opening nearby. The Home Depot could block small hardware stores. And LA Fitness could criminalize new gyms.

The intent is to prevent health care overinvestment, supposedly to keep costs under control. But the reality is economic protectionism. Established providers gain access to an exclusive club closed to outsiders.

Membership has its privileges. CON holders don’t have to worry about startup enterprises luring away customers with faster, cheaper or friendlier service. The government runs interference, blocking entrepreneurship and protecting the status quo.

CON holders also can take their employees for granted. Limited supply means less mobility for doctors, nurses and other health care professionals, especially when states allow the enforcement of noncompete clauses on top of CON restrictions.

Patients are the ultimate losers. Hospitals make the most money when they operate near capacity, but the business model leaves families vulnerable during major outbreaks.

COVID already provided a wakeup call. California, Texas and 10 other states — covering 40% of the U.S. population — started the pandemic with an edge. They fully eliminated their CON laws years before the emergency, resulting in more hospital beds, surgery centers, dialysis clinics and hospices per capita than the national average at the end of 2019.

Other states had to backtrack. “Conning the Competition,” a report from our public interest law firm, the Institute for Justice, finds that 24 states and Washington, D.C., quickly suspended their CON requirements when COVID infections began to spread, allowing health care providers to respond more quickly to the crisis.

Rather than learn their lesson, most of these states returned to full CON enforcement by 2022 as if nothing happened. Now they are scrambling again.

What they fail to grasp is that putting artificial limits on hospital beds is a dangerous game. Policymakers ignore decades of evidence when they cling to CON laws. Congress found the federal CON law to be a failure in 1987 and repealed it. The Antitrust Division of the U.S. Department of Justice looked at CON laws again in 2008 and found no public benefit. Multiple studies since then show CON costs exceed the benefits.

Repealing CON laws would not end COVID, the flu or RSV. But it would end a rigged system that benefits big hospitals at the expense of entrepreneurs, health care professionals and patients — including the ones crowded out of emergency rooms and pediatric wards this holiday season.

Jaimie Cavanaugh is the author of “Conning the Competition” and an attorney at the Institute for Justice in Minneapolis. Daryl James is an Institute for Justice writer.

end

Panic spreads across social media following new FDA study linking covid jabs to blood clotting

Thursday, December 22, 2022 by: Ethan Huff
Tags: awakening, badhealth, badmedicine, Big Tech, Blood clots, blood clotting, Censored Science, clot, COVID, Dangerous Medicine, deep state narrative, Elon Musk, FDA, Glitch, panic, progress, real investigations, Social media, technocrats, truth, vaccine, vaccine damage, vaccine injury, vaccines

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

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11KVIEWS

(Natural News) New research released by the U.S. Food and Drug Administration (FDA) is stoking a firestorm on social media as it yet again exposes covid “vaccines” as a death sentence.

Entitled “Surveillance of COVID-19 vaccine safety among elderly persons aged 65 years and older,” the “FDA study,” as it is currently trending on social media, highlights the fact that covid injections cause blood clotting in older individuals.

We know from earlier research that the jabs cause blood clots in young people, too. But this may be the first time that the FDA has even acknowledged the blood clotting issue, which was never really addressed until recently.

Published last month in the journal Vaccine, the FDA study was compiled by researchers from not only the agency but also Acumen LLC, the Department of Economics at Stanford University, and the Center for Medicare and Medicaid Services.

It reveals, based on data from a database of elderly people in the United States, that pulmonary embolism and blood clotting in the lungs are so prevalent among the “fully vaccinated” that further investigation is warranted.

“Three other observations including a lack of oxygen to the heart, a blood platelet disorder called immune thrombocytopenia, and another type of clotting called intravascular coagulation, also raised red flags for the researchers, as per the outlet,” reported the International Business Times, Singapore edition.

“The study included subjects who received Covid-19 vaccine shots of Pfizer, Moderna and Johnson and Johnson.” (Related: Earlier this year, the FDA finally admitted that covid jabs do, in fact, cause deadly blood clots.)

Dr. McCullough says FDA study confirms what many doctors already know: that covid injections destroy the heart and circulatory system

After the report was unleashed, Truth for Health Foundation chief medical adviser Dr. Peter McCullough told IBTimes that none of this is really new information to those who have been paying attention and digging at the data from the start.

The new paper, he explained, “corroborates the concerns of doctors that the large uptick in blood clots, progression of atherosclerotic heart disease, and blood disorders is independently associated with COVID-19 vaccination.”

New Twitter owner Elon Musk tweeted about the study as well, stating that “Much will come to light as Fauci loses power,” referring, of course, to disgraced former NIAID head Tony Fauci, who retired in shame this year.

Many others on Twitter told personal anecdotes about how covid injections have harmed themselves, family members, and friends. Since Musk took over the social media platform, stories like this are now allowed to be shared without censorship or other punishment.

“I watched my Grandmother die of DVT, blood clots, and pulmonary embolism 8 days after her 2nd Pfizer shot,” one of them explained.

“So, angry … I waited. Then I watched all my family members and friends have reactions after theirs or get COVID shortly after … WORSE than when they got COVID pre-jab.”

Another angrily lamented that the FDA is only just now, two years after the fact, doing what it should have done from the very beginning when it was emergency authorizing (EUA) and approving these deadly injections: actually investigating them for safety and effectiveness.

“The FDA has now admitted that Pfizer’s Covid ‘Vaccine’ causes blood clots – 2 years later!” another wrote.

“Who will be held accountable for all of those who have been impacted? Vaccine manufacturers can’t currently be held liable! Does everybody see the problem now? Time to wake up!”

It turns out that this data has been there from the very beginning. Freedom of Information Act (FOIA) requests brought to the surface internal data at Pfizer showing that its shots are deadly – this being why the pharmaceutical giant tried to prevent the release of that data for 75 years.

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

Sources for this article include:

IBTimes.sg

NaturalNews.com

end

GLOBAL ISSUES

PAUL ALEXANDER

Vagus nerve & Long-COVID from SARS-CoV-2: “Pilot study suggests long COVID could be linked to the effects of SARS-CoV-2 on the vagus nerve”; is it the spike protein of the virus? Thus a VACCINE role?

Research suggests that many of the symptoms connected to post-COVID syndrome (PCC, also known as long COVID) could be linked to the effect of the virus on the vagus nerve; is it the spike protein?

DR. PAUL ALEXANDERDEC 23

SAVE▷  LISTEN

What exactly is it about this virus that is causing damage to the vagus nerve and thus long-COVID? We know that the spike protein the is toxic business-end of the virus and an endothelial pathogen. Is the long-COVID symptoms emerging post infection similar to post COVID gene injection vaccine? This must be fleshed out as to vaccine status of participants and must be urgently studied.

SOURCE:

https://www.eurekalert.org/news-releases/943102

‘New research to be presented at this year’s European Congress of Clinical Microbiology and Infectious Diseases (ECCMID 2022, Lisbon, 23-26 April) suggests that many of the symptoms connected to post-COVID syndrome (PCC, also known as long COVID) could be linked to the effect of the virus on the vagus nerve – one of the most important multi-functional nerves in the body. The study is by Dr Gemma Lladós and Dr Lourdes Mateu, University Hospital Germans Trias i Pujol, Badalona, Spain, and colleagues.

The vagus nerve extends from the brain down into the torso and into the heart, lungs and intestines, as well as several muscles including those involved in swallowing.  As such, this nerve is responsible for a wide variety of bodily functions including controlling heart rate, speech, the gag reflex, transferring food from the mouth to the stomach, moving food through the intestines, sweating, and many others.

Long COVID is a potentially disabling syndrome affecting an estimated 10-15% of subjects who survive COVID-19. The authors propose that SARS-CoV-2-mediated vagus nerve dysfunction (VND) could explain some long COVID symptoms, including dysphonia (persistent voice problems), dysphagia (difficulty in swallowing), dizziness, tachycardia (abnormally high heart rate), orthostatic hypotension (low blood pressure) and diarrhoea.

The authors performed a pilot, extensive morphological and functional evaluation of the vagus nerve, using imaging and functional tests in a prospective observational cohort of long COVID subjects with symptoms suggestive of VND. In their total cohort of 348 patients, 228 (66%) had at least one symptom suggestive of VND. The current evaluation was performed in the first 22 subjects with VND symptoms (10% of the total) seen in the Long COVID Clinic of University Hospital Germans Trias i Pujol between March and June 2021. The study is ongoing, and continues to recruit patients.

Of the 22 subjects analysed, 20 (91%) were women with a median age of 44 years. The most frequent VND-related symptoms were: diarrhoea (73%), tachycardia (59%), dizziness, dysphagia and dysphonia (45% each), and orthostatic hypotension (14%). Almost all (19 subjects, 86%) had at least 3 VND-related symptoms. The median prior duration of symptoms was 14 months. Six of 22 patients (27%) displayed alteration of the vagus nerve in the neck shown by ultrasound – including both thickening of the nerve and increased ‘echogenicity’ which indicates mild inflammatory reactive changes.

A thoracic ultrasound showed flattened ‘diaphragmatic curves’ in 10 out of 22 (46%) subjects (which translates a decrease in diaphragmatic mobility during breathing, or more simply abnormal breathing). A total of 10 of 16 (63%) assessed individuals showed reduced maximum inspiration pressures, showing weakness of breathing muscles.

Eating and digestive function was also affected in some patients, with 13 of 18 assessed (72%) having a positive screen for self-perceived oropharyngeal dysphagia (trouble swallowing). An assessment of gastric and bowel function performed in 19 patients revealed 8 (42%) had their ability to deliver food to the stomach (via the oesophagus) impaired, with 2 of these 8 (25%) reporting difficulty in swallowing. Gastroesophageal reflux (acid reflux) was observed in 9 of 19 (47%) individuals; with 4 of these 9 (44%) again having difficulty delivering food to the stomach and 3 of these 9 (33%) with hiatal hernia – which occurs when the upper part of the stomach bulges through the diaphragm into the chest cavity.

A Voice Handicap Index 30 test (a standard way to measure voice function) was abnormal in 8/17 (47%) cases, with 7 of these 8 cases (88%) suffering dysphonia.

The authors say: “In this pilot evaluation, most long COVID subjects with vagus nerve dysfunction symptoms had a range of significant, clinically-relevant, structural and/or  functional alterations in their vagus nerve, including nerve thickening, trouble swallowing, and symptoms of impaired breathing. Our findings so far thus point at vagus nerve dysfunction as a central pathophysiological feature of long COVID.”

end

Open in app or onlineBOOM!! Megyn Kelly goes RAMBO on CDC for moving to place COVID vaccine on immunization schedule; big praise, Megyn has come full circle & cuts against the grain, will be rewarded! girls at risk! there is research showing girls are as at risk as boys & actually I recall one study showing greater risk. Megyn has just lost her sister and prayers & sympathies to her & anyone, grief is never nice DR. PAUL ALEXANDERDEC 23  SAVE▷  LISTEN  Re-post:Alexander COVID News-Dr. Paul Elias Alexander’s Newsletter BOOM!! Megyn Kelly goes RAMBO on CDC for moving to place COVID vaccine on immunization schedule; big praise, Megyn has come full circle & cuts against the grain, will be rewarded! girls at risk!

end

VACCINE IMPACT/

Do You Really Have Nothing to Hide? The “Right to Remain Silent” Protects the Innocent

December 22, 2022 5:01 pm

The Bill of Rights contains the 5th Amendment, which is the right to remain silent. This is the one right that law enforcement hates, and the American public has been conditioned to believe over the years that this amendment is only for criminals who don’t want to incriminate themselves, and so they have been trained to say to you: “If you don’t have anything to hide, why won’t you answer my questions?” But the fact is that the 5th Amendment was placed in the Bill of Rights to protect innocent people from a tyrannical government. If you have never watched Law Professor James Duane’s classic lecture to a group of students on why he is “proud to admit that I will NEVER talk to a police officer,” this is must viewing. Generally, when questioned by officers, the best response is to simply state: “I don’t answer questions.” These officers are counting on you not knowing your rights, and being able to intimidate you for information. In an article published by Robin Koerner at the Brownstone Institute today, you will learn how innocently answering questions posed by a TSA Officer can result in you being put on a list where you can no longer travel, even if you did nothing wrong.

Read More…

/SLAY NEWS

The latest reports from Slay News

Dr. Robert Malone Raises Alarm as New Data Shows Huge Spike in Sudden DeathsRenowned American physician and biochemist Dr. Robert Malone is raising the alarm after new data has emerged that shows a huge spike in sudden deaths.READ MORE

Elon Musk Warns Schumer & McConnell: ‘Public Has Spoken – They Are Overwhelmingly against This Giant Spending Bill’Twitter CEO Elon Musk has warned Senate leaders Sen Chuck Schumer (D-NY) and Sen. Mitch McConnell that “the public” is “overwhelmingly against” the massive $1.7 trillion omnibus spending bill being rushed through Congress.READ MORE

Two Men Convicted, Sentenced to Jail for Voter Fraud in FloridaTwo men have been jailed after being convicted of voter fraud charges in Florida.READ MORE

FBI Responds after Being Exposed by Elon Musk’s ‘Twitter Files,’ Blames ‘Conspiracy Theorists’The FBI has responded to the bombshells revealed in Elon Musk’s “Twitter Files” by lashing out at so-called “conspiracy theorists.”READ MORE

FTX Associates ‘Cooperating with Investigators’ in Case against Sam Bankman-FriedTwo associates of former FTX CEO Sam Bankman-Fried are reportedly “cooperating with investigators” in the prosecutors’ fraud case against the boss of the failed cryptocurrency exchange.READ MORE

Rand Paul Reaches Limit over Omnibus Spending Bill: ‘It’s an Abomination’Republican Senator Rand Paul (R-KY) has reached his limit with congressional leadership for supporting the $1.7 trillion dollar omnibus spending bill.READ MORE

Full List of Corporate Media ‘Journalists’ Paid by George Soros to Promote Radical AgendaLeftist billionaire Goerge Soros has been paying dozens of “journalists” and other corporate media figures large sums of cash to promote his radical agenda.READ MORE

House Republicans’ Investigation Report: ‘January 6 Was Pelosi’s Fault’House Republicans have released a report on their investigations into the riot on January 6, 2021, that determines the breach of the U.S. Capitol building was Democrat Speaker Nancy Pelosi’s fault.READ MORE

Top Executives Plead Guilty to Federal Fraud Charges in FTX CaseTwo former top executives have pleaded guilty to federal fraud charges in the case against now-bankrupt cryptocurrency exchange FTX.READ MORE

Zelensky: Omnibus Bill’s $45 Billion in U.S Aid for Ukraine Is Not EnoughUkrainian President Volodymyr Zelensky is planning to tell Democrat President Joe Biden during his address to Congress that the earmarked $45 billion of aid for Ukraine in the $1.7 trillion omnibus bill is not enough.READ MORE

Florida GOP Deals Huge Blow to RNC Chair Ronna McDaniel, Will Hold No-Confidence Vote Next MonthThe Florida GOP has just dealt a huge blow to Ronna McDaniel by announcing it will hold a no-confidence vote on the Republican National Committee (RNC) chairwoman next month.READ MORE

Kevin McCarthy Breaks with McConnell to Oppose Massive $1.7 Trillion Omnibus BillRepublican House Minority Leader Kevin McCarthy (D-CA) is breaking with Senate GOP Leader Mitch McConnell (R-KY) to oppose the massive $1.7 trillion omnibus spending bill.READ MORE

Larry Kudlow Crushes Business News Rivals, Sets Ratings Record with Most-Watched Show in 2022Larry Kudlow, President Donald Trump’s former Director of the National Economic Council, has enjoyed a record-breaking year at Fox Business.READ MORE

MICHAEL EVERY/RABOBANK

Michael Every on the day’s most important events:

end

7//OIL ISSUES//NATURAL GAS ISSUES/USA AND GLOBE

Oil Jumps After Russia Threatens To Cut Output In Response To Price Cap

FRIDAY, DEC 23, 2022 – 08:44 AM

After two weeks of silence in detailing how it would react to the G7 oil price cap, overnight the Kremlin raised the stakes for the west when state-run Tass news service quoted Deputy Prime Minister Alexander Novak as saying that Russia may reduce output by 500,000 to 700,000 barrels a day in response to the cap.

While not yet formalized, President Putin plans to sign a decree on the nation’s reaction to the threshold on Monday or Tuesday, containing unspecified “preventive measures.”

“A risk-on sentiment and a weaker US dollar are helping oil today,” said Giovanni Staunovo, a commodities analyst at UBS Group AG. “The Russian comments are also helping but the market probably wants to see it before it believes, hence a muted response.”

As the war in Ukraine grinds on, traders have been waiting for Moscow’s full response to the cap, a policy that imposed a $60-a-barrel ceiling on Russian crude in a bid to reduce the Kremlin’s income while keeping exports on the market. While the policy has largely worked so far, with Russia’s popular Urals oil trading below $60 due to sharp discounts to Brent, as the price of oil rises, Urals will also rise above the critical threshold potentially depriving the world of million in barrels of daily supply.

And speaking of prices, WTI rose more than $2 on the news, while Brent was above $83 despite pervasive global recession fears. The gains meant WTI was set to post its second consecutive weekly gain.

As reported earlier this week, there already had been early signs the cap is impeding Russian oil flows, an impact that would run counter to its stated aims. In the first full week after the limit came into effect on Dec. 5 — in tandem with a European Union ban on seaborne Russian imports and curbs on insurance — total volumes shipped from the nation sank by 54%, tanker tracking compiled by Bloomberg showed.

The threat of Russian output cuts comes as China’s rapid shift from Covid Zero has bolstered the demand outlook next year, even though the swift shedding of curbs has been disruptive. With cases spiking, several measures of mobility including traffic congestion in major cities, subway usage and the number of domestic flights have slumped. That said, the country is also easing quarantine rules for air travel, which should boost consumption and oil demand should surge in a few weeks when China builds up natural immunity to the disease even it admits is no riskier than the common cold.

Meanwhile, with Biden’s politically-mandated SPR drain ending, data this week showed a drop in commercial crude inventories, with nationwide holdings at their lowest for this time of year since 2014. Traders are also watching for any fallout for energy markets from a vicious winter storm that’s pummeling parts of the country.

“There is now a high likelihood that the Biden administration will gear up oil purchases heading into the new year,” said Ole Hvalbye, an analyst at SEB AB. Good luck keeping the price of oil below $95 which is the blended average sale price from the SPR.

In the physical market, the prompt time spread in WTI futures was 13 cents a barrel in backwardation, a bullish pattern in which near-term prices are higher than later-dated ones. A week ago, it was 17 cents a barrel in an opposite bearish contango. In other words, the bottom for the oil market is now in the rearview mirror, just as we expected.

We should hear next week on Putin’s response to the G7 oil price cap

(zerohedge)

Putin To Sign Response To G7’s Oil Price Cap Early Next Week, Touts “No Losses”

THURSDAY, DEC 22, 2022 – 10:40 PM

President Putin indicated Thursday that Russia’s long-awaited response to the G7 oil price cap will come next Monday or Tuesday, in a defiant message asserting there will be no losses for Russia’s economy due to the cap.

After long warning Europe its punitive anti-Moscow measures will backfire, he on Thursday repeated this theme that the price cap will trigger “a path toward destruction of global energy” – possibly sending prices to “sky-high” levels. “No individual damage for Russia, for the Russian economy, for the Russian fuel and energy sector is seen. We are selling approximately at prices set as the cap,” Putin said, according to a state media translation.

“The goal of our geopolitical opponents, adversaries is clear – to limit revenues of the Russian budget,” Putin continued, before asserting: 

“We nevertheless lose nothing from this ceiling; there are no losses for the Russian fuel and energy sector and the economy, the budget.”

And he re-emphasized that there are “No losses because we are selling at these prices.”

Interestingly a Foreign Policy op-ed published on the same day by chairman of the Atlantic Council’s Global Energy Center, Richard Morningstar, seems to agree and admits the following…

“When Western leaders announced on Dec.2 that they had agreed on a $60 price cap on Russian oil exports they trumpeted it as a bold multinational achievement in energy diplomacy. But anyone who thinks this will be a significant hit to Russian oil revenues… is likely to be disappointed.”

And more: “After all, Russian oil has sold at prices in the $60 range for much of the last several years. Moreover, since Russia’s February invasion of Ukraine, global energy traders have already limited their offtake of Russian crude to some extent. When countires such as India and China snapped up the surplus, they negotiated steep discounts. But the discount for Urals crude, the main Russian benmark – nearly $40 per barrel compared with Brent oil in the early months of the war – has slowly dropped into the low $20 per barrel range, allowing Moscow to continue cashing in.”

In contrast, Ukraine still has high hopes of a very different outcome, naturally…

“We expect the collapse of profits from oil and gas exports to be at more than 50%, precisely because of the introduction of the EU embargo on oil and petroleum products and the introduction of price restrictions. Oil and gas account for 60% and 40% of federal budget revenues. We expect that Russia’s revenues will fall below the critical level of $40 billion per quarter,” Yuliya Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine has said, echoing the whole impetus and rationale behind the cap as creating conditions that make it much more difficult for the Russian military machine to continue functioning.

As for Putin, he the day prior also confidently said that his approach to the Ukraine special operation will remain one of “no limits” on spending. “The country and government is giving everything that the army asks for – everything. I trust that there will be an appropriate response and the results will be achieved,” Putin informed his top officials at the Defense Ministry’s annual meeting in Moscow.

END

8.EMERGING MARKETS ISSUES//AUSTRALIA ISSUES.

Peru

END

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

EURO VS USA DOLLAR:1.0616  UP .0016 

USA/ YEN 132.69  UP  0.317/NOW TARGETS INTEREST RATE AT .50% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN  RISES//

GBP/USA 1.2067 UP   0.0030

 Last night Shanghai COMPOSITE CLOSED DOWN 8.56 PTS OR 0.28% 

 Hang Sang CLOSED DOWN  86,16  POINTS OR  0.44% 

AUSTRALIA CLOSED DOWN 0.65%    // EUROPEAN BOURSE: MOSTLY GREEN EXCEPT FRANCE

Trading from Europe and ASIA

I) EUROPEAN BOURSES  MOSTLY GREEN EXCEPT FRANCE

2/ CHINESE BOURSES / :Hang SANG CLOSED DOWN 86.16 PTS OR 0.44%

/SHANGHAI CLOSED DOWN 8.56 PTS OR 0.28%

AUSTRALIA BOURSE CLOSED DOWN  0.65% 

(Nikkei (Japan) CLOSED DOWN 272.62%  OR 1.03%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1797.25

silver:$23.73

USA dollar index early FRIDAY morning: 103.93 DOWN 19  BASIS POINTS from THURSDAY’s close.

 FRIDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing FRIDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 3.39% UP 3  in basis point(s) yield

JAPANESE BOND YIELD: +0.370% DOWN 1 AND 8/100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.457%// UP 3 in basis points yield 

ITALIAN 10 YR BOND YIELD 4.492UP 3    points in basis points yield ./ THE ECB IS QE ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: RISES TO +2.3875%  UP 3 BASIS PTS 

END

IMPORTANT CURRENCY CLOSES FOR FRIDAY  

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

Euro/USA 1.0622 UP   .0022  or 22 basis points//

USA/Japan: 132.78 UP .410 OR YEN DOWN 41  basis points/

Great Britain/USA 1.2063 UP .0026 OR  26 BASIS POINTS //

Canadian dollar  UP .0047 OR 47 BASIS pts  to 1.3588

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED ..DOWN) AT 6.9893

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)…. 6.9945

TURKISH LIRA:  18.69  EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.

the 10 yr Japanese bond yield  at +0.370

Your closing 10 yr US bond yield UP 6 IN basis points from THURSDAY at  3.728% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

 USA 30 yr bond yield   3.799  UP 8 in basis points 

Your closing USA dollar index, 104.14 UP 0.30  BASIS PTS   ON THE DAY/1.00 PM/

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

London: CLOSED UP 3.73 PTS OR  0.05%

German Dax :  CLOSED UP 25.89  POINTS OR 0.19%

Paris CAC CLOSED DOWN 14.05  PTS OR 0.22% 

Spain IBEX CLOSED DOWN 2.60 OR  0.03%

Italian MIB: CLOSED UP  50.07PTS OR  0.21%

WTI Oil price 79.63   12: EST

Brent Oil:  83.20  12:00 EST

USA /RUSSIAN ///   DOWN TO:  70.20/ ROUBLE DOWN 1 AND 25/100       RUBLES/DOLLAR

GERMAN 10 YR BOND YIELD; +2.3875

UK 10 YR YIELD: 3.6667  UP 4 BASIS PTS.

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0615  UP .0014    OR 14 BASIS POINTS

British Pound: 1.2038 UP   .0000  or  0 basis pts

BRITISH 10 YR GILT BOND YIELD:  3.6645% UP 3 BASIS PTS

USA dollar vs Japanese Yen: 132.87    UP 0.503/YEN DOWN 50 BASIS PTS//

USA dollar vs Canadian dollar: 1.3643 DOWN 0.0039 (CDN dollar, UP 39 basis pts)

West Texas intermediate oil: 79.59

Brent OIL:  83.92

USA 10 yr bond yield UP 8 BASIS pts to 3.751%

USA 30 yr bond yield UP 10  BASIS PTS to 3.827%

USA dollar index:104.04 DOWN 8  BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 18.69

USA DOLLAR VS RUSSIA//// ROUBLE:  70.20  DOWN 1 AND  25/100 roubles

DOW JONES INDUSTRIAL AVERAGE: UP 177.10 PTS OR 0.54% 

NASDAQ 100 UP 29.30 PTS OR 0,27%

VOLATILITY INDEX: 20.85 DOWN 1.12 PTS (5.10)%

GLD: $167.26 UP 0.50 OR 0.30%

SLV/ $21.85 UP $0.16 OR 0.74%

end)

USA trading day in Graph Form

Tech Stocks Tumble Towards 2nd Worst December Ever; Bonds Worst Week Since April

FRIDAY, DEC 23, 2022 – 04:00 PM

After three months of divergence, hard data started to lag this week, catching down to the more sentiment-driven ‘soft’ survey data, and dashing hopes of a soft landing happening in the US economy…

Source: Bloomberg

The market has shifted hawkishly this week, with expectations for the terminal Fed rate rising and expectations of subsequent rate-cuts falling (both back up near pre-CPI levels)…

Source: Bloomberg

And that reality check weighed on the equity market broadly with Nasdaq hammered hardest (Nasdaq down three weeks in a row). The Dow managed to make gains on the week (best week since Thanksgiving)…

As they careen towards putting in the second worst December performance ever with Nasdaq -9% so far (Dow down 4.2%)…

Energy stocks outperformed on the week while Tech and Consumer Discretionary lagged…

Source: Bloomberg

TSLA is down 6 straight days (and 9 of the last 10 days) and 10 of the last 14 weeks.

Bonds (which closed early today) were also dumped this week, led by the long-end with the 10Y yield up 26bps – the biggest weekly yield surge since April…

Source: Bloomberg

The 10Y Yield is back up at one-month highs (erasing all the price gains since Powell’s dovish address in late November)…

Source: Bloomberg

The dollar slipped lower on the week, back to post-CPI lows…

Source: Bloomberg

Cryptos continued their low-vol range-bound trading with Bitcoin holding just below $17,000 for the week…

Source: Bloomberg

Gold ended the week unchanged (basically the 3rd week in a row where – despite intra-week volatility – the precious metal has ended flat around $1800)

Source: Bloomberg

Oil prices rallied for the 2nd straight week with WTI topping $80 on its best week since early October

Finally, while December looks set to be the second worst month for stocks ever, The Dow is set for its best year since 1933 relative to the S&P 500…

Source: Bloomberg

As Bloomberg notes, The Dow’s reliance on blue-chip companies has made it a place of relative safety as rising interest rates pushed investors away from technology stocks. Some bears are betting the outperformance won’t last: short interest in the SPDR Dow Jones Industrial Average ETF Trust is hovering at 3% of shares outstanding, the highest level since August 2020, IHS Markit data show.

END

EARLY MORNING TRADING//

EARLY AFTERNOON TRADING

ii) USA DATA

US Durable Goods Orders Plunge In November, Biggest Drop Since COVID

FRIDAY, DEC 23, 2022 – 08:55 AM

Following a plunge in Leading Economic Indicators (offset by the unexpectedly strong revision to GDP), US Durable Goods Orders tumbled 2.1% MoM in preliminary November data (considerably worse than the 1.0% drop expected)….

Source: Bloomberg

That is the biggest MoM drop since the COVID lockdowns and slowest YoY growth since Feb 2021.

Non-defense aircraft & parts fell 36.4%, while defense aircraft & parts declined 8.6%.

Non-defense capital goods shipments ex-aircraft, which feed directly into GDP calculations, declined by 0.1%.

Rising economic uncertainty and rapid Fed rate hikes are revealed in softening capex intentions, which indicate that a soft patch likely lies ahead…

Source: Bloomberg

…and one wonders if this is the start of a trend in orders as ISM Manufacturing (sentiment) is collapsing?

Source: Bloomberg

Is this what Powell wants?

end

Inflation is really slowing down quite dramatically

(zerohedge)

Fed’s Favorite Inflation Indicator Hotter Than Expected In November

FRIDAY, DEC 23, 2022 – 08:39 AM

‘Twas the last trading day before Christmas and all through the market, not a trader was twitching… until today’s PCE print hits…

The Fed’s favorite inflation indicator – Core PCE Deflator – printed slightly hotter than expected in November +4.7% YoY vs +4.6% exp (MoM was in-line at +0.2% after an upward revision for October)…

Source: Bloomberg

That is below the 4.8% forecast in the FOMC’s December SEP.

As a reminder, it appears the Fed’s latest forecast (above) in fact ignored the latest CPI slowdown print also.

Simply put, for the FOMC’s forecast to be hit, December’s PCE would have to accelerate significantly (which most analysts see as highly unlikely).

What that means is that The Fed will be forced to admit that inflation is slowing faster than they expected – which is implicitly dovish from their ‘higher for longer’ narrative. However, it seems all the excitement will be left for

And judging by the lagged M2 flow, inflation is set to slow even more dramatically from here…

Source: Bloomberg

Away from the headline inflation signal, Americans’ spending rose less than expected while income rose slightly more than expected (with real spending disappointingly unchanged MoM)

Source: Bloomberg

YoY Spending growth is at its slowest since Feb 2021…

Source: Bloomberg

Wage growth has slowed back to pre-COVID levels with Govt wages +5.5% (vs 6.1% in Oct and vs 5.0% pre-COVID), and private worker wages: 4.9% (vs 4.7% in Oct and 3.5% pre-COVID)…

Finally, the savings rate ticked up very very modestly to 2.4% (but is hovering near 17 year lows)…

Source: Bloomberg

More credit and less savings will make the new year not so fun for all.

END

UMich Inflation Expectations Tumble To 18-Month Lows

FRIDAY, DEC 23, 2022 – 10:07 AM

After this morning’s ‘disappointingly’ hotter than expected PCE print, all eyes are now on the UMich inflation expectations for any signs of hope for a dovish Fed into the Xmas weekend. This is the final print for December (so really should not be a huge market mover unless things shifted dramatically intra-month)… and it did!

The 1-year inflation expectation dropped from 4.6% flash to 4.4% final (from 4.9% in November)… the lowest since June 2021

Source: Bloomberg

But we caution that inflation uncertainty remains extremely high….

The final headline UMich rose from November and the flash print, with expectations leading the way…

Source: Bloomberg

Assessments of personal finances, both current and future, are essentially unchanged from November.

Buying conditions improved very marginally but home-buying attitudes remain near multi-decade record lows…

Source: Bloomberg

However, sentiment remains relatively downbeat at 15% below a year ago, but consumers’ extremely negative attitudes have softened this month on the basis of easing pressures from inflation.

end

November Home Sales Suffer Biggest Crash In History

FRIDAY, DEC 23, 2022 – 02:05 PM

As a historic cold front blankets the continental US – because global warming of course – locking down hundreds of millions, and paralyzing the economy and infrastructure…

… the only thing that is more frozen is US housing, where according to the latest housing report from RedFin, home sales in November fell 35.1% Y/Y — the largest decline in Redfin’s records that date back to 2012.

Home-price growth also lost momentum, although home prices have remained surprisingly high amid the broader housing carnage.  One can attribute that to the lack of liquidations so far; if however the housing malaise persists look for prices to go into freefall next. For now, the median U.S. home-sale price rose just 2.6% from a year earlier, the smallest gain since May 2020, when the onset of the coronavirus pandemic brought the housing market to a near halt.

To be sure, if and when sellers are forced to start hitting bids – as their liquidity buffers evaporate – we will see a historic buying frenzy driven by Wall Street money. Not surprisingly, a few days ago Redfin also reported that with most mortgage-funded buyers sidelined indefinitely and unable to access the market, roughly one-third (31.9%) of U.S. home purchases were paid for with all cash in October, up from 29.9% a year earlier and the highest share since 2014!

The housing market paralysis in November intensified as elevated housing costs kept buyers and sellers on the sidelines, while the record surge in mortgage rates in early November caused sales and prices to slow. New listings slumped 28.4% year over year, the biggest drop on record aside from April 2020. Despite the decrease in listings, overall supply rose 4.6% from a year earlier—a sign that homes lingered on the market as demand ebbed: the typical for-sale home took 37 days to go under contract, up from 23 days a year earlier.

The silver lining is that amid growing fears of an imminent Fed-induced recession which has sent rates sharply lower in the past month, there are early signs that demand may be starting to creep back as mortgage rates fall (which ironically is precisely what the Fed wants to avoid as it would further ease financial conditions). There was a slight downtick in the portion of home-purchase agreements that were canceled in November, and mortgage applications and Redfin’s Homebuyer Demand Index have both been on the rise. Still, these early indicators haven’t translated into more home sales.

As a reminder, in late November, mortgage rates reversed course dropping below 6.5% after soaring to the highest level in roughly two decades (7.08%) earlier in the month; that said they’re still twice as high as they were a year ago. The Fed has since signaled that it has more work to do to quell inflation and isn’t yet finished raising rates.

“The worst of inflation is likely in the rearview mirror,” said Redfin Economics Research Lead Chen Zhao. “We do anticipate that mortgage rates will decline slightly further in 2023 as the Fed’s actions continue to bring inflation down, which should ultimately bring more homebuyers back to the market. Still, we have a ways to go until we reach recovery mode, and we may see sales continue to ebb in the short term.”

Zhao continued: “Prospective buyers in places like San Francisco and Austin, where prices have already fallen from a year ago, should pay close attention to a potential turnaround; it could be the time to take action as demand and competitive offers could pick up in the coming months.”

END

III) USA ECONOMIC STORIES.

Flight Cancellations Top 3,000, Disrupting Christmas Travel

FRIDAY, DEC 23, 2022 – 06:55 AM

More than 150 million Americans are under weather alerts as a massive winter storm moves east across the US, blanketing regions with accumulating snow and leaving behind dangerously cold weather. Adverse weather conditions have been enough to cause the second day of travel chaos across the country’s eastern half, just one day before Christmas weekend. 

After 2,500 flights were canceled Thursday, another 3,100 have been canceled as of 0600 ET Friday, according to flight tracking site FlightAware. These flights include within, into, or out of the US. About 800 have been delayed so far. 

FlightAware shows New York’s LaGuardia, Detroit, Seattle, Chicago, Denver, and Boston airports have the most cancellations and delays. 

The peak intensity of the winter storm is forecasted today over the Great Lakes. Blizzard conditions are anticipated from eastern Wisconsin and far northeastern Illinois to portions of Michigan, northern Indiana, northern Ohio, western Pennsylvania, and western New York. The storm will also usher in fridge temperatures for the easter half of the US, making this Christmas weekend the coldest in four decades. 

FlightAware’s Misery Map shows the storm impacting major airports. 

Even though the storm has passed the central part of the US, an arctic blast lingers and is pushing eastward today. 

By Christmas, average temperatures across the Lower 48 will begin to rebound from 25 degrees Fahrenheit (well below a 30-year trend) to nearly 50 degrees by Jan. 1. 

Rebound in temperatures next week is why natural gas prices are sinking lower. Now we wait for the next cold blast. 

END

USA ECONOMIC ISSUES// SUPPLY ISSUES//DERIVATIVES

end

SWAMP STORIES

Alan Dershowitz: Jan. 6 Panel’s Criminal Referral Of Trump ‘Clearly Unconstitutional’

THURSDAY, DEC 22, 2022 – 07:00 PM

Authored by Samantha Flom via The Epoch Times (emphasis ours),

The House Jan. 6 committee’s referral of former President Donald J. Trump to the Justice Department for prosecution violates the U.S. Constitution, according to Harvard Law Professor Emeritus Alan Dershowitz.

The committee, comprised of seven Democrats and two Republicans, voted unanimously to refer Trump for four criminal charges during its last hearing on Dec. 19, including one charge that would prevent him from ever holding office again.

“In my view, it’s clearly unconstitutional,” Dershowitz told Just the News on Monday. “Article One limits the power of Congress through legislative actions. This is not a legislative action, naming a specific individual and referring them to the Justice Department. It’s not legislative and it tramples on the authority of the executive branch.”

The charges the committee recommended included insurrection, obstruction of an official proceeding, making a false statement to the federal government, and conspiracy to defraud the federal government.

Under U.S. law, “whoever incites, sets on foot, assists, or engages in any rebellion or insurrection against the authority of the United States or the laws thereof, or gives aid or comfort thereto, shall be fined under this title or imprisoned not more than ten years, or both; and shall be incapable of holding any office under the United States.”

As of yet, no one has been charged with insurrection in relation to the Jan. 6, 2021, Capitol breach, though some defendants have been convicted of or are facing seditious conspiracy charges.

According to Dershowitz, the 14^th Amendment does allow for Congress to act against an individual if that person was engaged in an insurrection or rebellion like the Civil War, but the committee did not act under that provision.

Adding that it was his belief that the Justice Department would likely accept and then ignore the referrals, the lawyer noted: “Remember, they now have a special counsel. They have the ability to investigate. They have a much higher standard of prosecution than Congress does. So, they will politely ignore what Congress has said.”

Trump Responds

Following Monday’s hearing, Rep. Jamie Raskin (D-Md.), a member of the Jan. 6 committee, explained the panel’s reasoning in making the referrals.

“Our criminal referrals were based on the gravity of the offense, the centrality of the actors, and the evidence we had available to us. There were undoubtedly other people involved, but we were stymied by virtue of a lot of people refusing to come and testify, refusing to give us the information they had, or taking the Fifth Amendment. So, we chose to advance the names of people where we felt certain that there was abundant evidence that they had participated in crimes.”

Trump, however, dismissed the charges in the criminal referral as “fake” and an attempt to keep him from running for president again in 2024.

“The people understand that the Democratic Bureau of Investigation, the DBI, are out to keep me from running for president because they know I’ll win and that this whole business of prosecuting me is just like impeachment was—a partisan attempt to sideline me and the Republican Party,” he said in a statement shared via Truth Social.

Trump also contended that the committee’s move would make him stronger, stating: “These folks don’t get it that when they come after me, people who love freedom rally around me. It strengthens me. What doesn’t kill me makes me stronger. Americans know that I pushed for 20,000 troops to prevent violence on Jan 6, and that I went on television and told everyone to go home.”

In his speech at The Ellipse on Jan. 6, 2021, Trump encouraged his supporters to “fight like hell”—a remark that the Jan. 6 select committee has often cited as evidence that he intended to incite violence at the Capitol.

However, in a less-publicized statement from the speech, the former president also stressed that his desire was for the crowd to “peacefully and patriotically make [their] voices heard.”

Further, after the situation at the Capitol had deteriorated to the point of violence, Trump released a recorded statement urging the protestors to “go home, and go home in peace.”

“I know your pain; I know your hurt,” the then-president said. “We had an election that was stolen from us. … But you have to go home now. We have to have peace. We have to have law and order. We have to respect our great people in law and order.”

Legislators Weigh In

As news of the committee’s referrals spread on Capitol Hill, lawmakers shared their perspectives on the matter, including Senate Minority Leader Mitch McConnell.

“The entire nation knows who is responsible for that day. Beyond that, I don’t have any immediate observations,” the Republican senator said in a statement, according to The Hill.

Read more here…

END

THE KING REPORT

GREG HUNTER REPORT//

More Money for War, CV19 Vax Mass Awakening, Autos & Economy Plunge

More Money for War, CV19 Vax Mass Awakening, Autos & Economy Plunge

By Greg Hunter On December 23, 2022 In Weekly News Wrap-Ups9 Comments

By Greg Hunter’s USAWatchdog.com (WNW 561 12.23.22)

The money for more war in Ukraine keeps flowing out of the U.S. Congress.  The Senate passed a monster pork spending package called the Omnibus bill.  It was nearly $1.7 trillion.  In that pork bucket was another $45 billion for the money laundering scheme that is Ukraine.  They say they need it to fight the invading Russians, but not a dime for the invaders on the Southern U.S. border.  Meanwhile, Putin is upgrading his nuclear arsenal.  Does anybody in Congress see a problem coming here?  Idiots and criminals are in charge of the federal government.

Every week there are dozens of people who “die suddenly.”  There are blogs that track this phenomenon all around the world.  Of course, it’s people dying from the CV19 bioweapon, but you will never hear this from the Lying Legacy Media (LLM).  The LLM told everyone to take the injection and that it was “safe and effective.”   That was a lie, and everyone involved in this clear genocide is trying to cover it up including the CDC.   No matter how hard they all try, what is coming is a mass awakening to the deadly and debilitating scam they passed off as a vaccine.  Just ask vax proponent Academy Award winning actor Tim Robbins if he still believes in the clot shots—spoiler alert– he does not.  What does that say about the rest of Hollywood?  Do you think he has a few friends that think the same way he does?

The economy is plunging.  The economic signals are the same as they were before the Great Recession in 2008 and 2009.  Meanwhile, the Fed is on a course to continue to raise rates.  There is no so-called Fed pivot.  There is just a plunge to the downside, and the used car market is reflecting this trend with a massive new wave of car repossessions.

There is much more in the 57-min. newscast.

Join Greg Hunter of USAWatchdog.com as he talks about these stories and more in the Weekly News Wrap-Up for 12.23.24.

https://usawatchdog.com/more-money-for-war-cv19-vax-mass-awakening-autos-economy-plunge/()

After the Wrap-Up:

Biotech analyst Karen Kingston will be the guest for the Saturday Night Post.  Kingston has more new information that shows the evil vax will kill and injure mass amounts of people.  We have a long way to go before it’s over.

TO ALL OUR JEWISH FRIENDS OUT THERE:

A HAPPY CHANUKAH HOLIDAY WEEK

AND TO ALL A VERY MERRY CHRISTMAS/