jan 26 · by harveyorgan · in Uncategorized · Leave a comment·Edit

GOLD PRICE CLOSED: DOWN $11.55 at $1930.00

SILVER PRICE CLOSED: UP $0.08  to $23.92

TODAY IS OPTIONS EXPIRY ON THE COMEX AND THUS THE REASON FOR THE RAID.

Access prices: closes : 4: 15 PM

Gold ACCESS CLOSE 1929.15

Silver ACCESS CLOSE: 23.90

Bitcoin morning price:, 23091 UP 179 DOLLARS

Bitcoin: afternoon price: $23,126 UP 144  dollars

Platinum price closing  $1021.90 DOWN $21.00

Palladium price; closing 1676.20 DOWN $26.40

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: $2,570.10 DOWN $36.91 CDN dollars per oz

BRITISH GOLD: 1553.83 DOWN 16.01 pounds per oz

EURO GOLD: 1771.14 DOWN 12.86 euros per oz

EXCHANGE: COMEX

 EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: JANUARY 2023 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,941.200000000 USD
INTENT DATE: 01/25/2023 DELIVERY DATE: 01/27/2023
FIRM ORG FIRM NAME ISSUED STOPPED

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624 H BOFA SECURITIES 1
737 C ADVANTAGE 1

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TOTAL: 1 1
MONTH TO DATE: 6,328

JPMorgan stopped 10/243

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GOLD: NUMBER OF NOTICES FILED FOR JAN/2023. CONTRACT:   1 NOTICES FOR 100  OZ  or  0.00311 TONNES

total notices so far: 6328 contracts for 632,800 oz (19.6827 tonnes)

 

SILVER NOTICES: 12 NOTICE(S) FILED FOR 60,000 OZ/

total number of notices filed so far this month : 1012 for 5060,000 oz

 

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END

GLD

WITH GOLD DOWN $11.55

INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD

//HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A DEPOSIT OF 2.03 TONNES OF GOLD INTO THE GLD //

INVENTORY RESTS AT 919.37 TONNES

Silver//SLV

WITH NO SILVER AROUND AND SILVER UP 8 CENTS

AT THE SLV// :/HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A HUGE DEPOSIT OF 0.9 MILLION OZ INTO THE SLV//// WHAT A MASSIVE FRAUD!!!

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

CLOSING INVENTORY: 521.9 MILLION OZ (THIS IS ALSO A CRIME SCENE@!!!!

IN THE LAST THREE DAYS: A GAIN OF 23.2 MILLION OZ (WHERE ON EARTH WERE THEY GOING TO GET THAT QUANTITY OF METAL)

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A SMALL SIZED 168 CONTRACTS TO 135,090 AND CLOSER TO  THE  RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THE FAIR GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR  $0.19 GAIN IN SILVER PRICING AT THE COMEX ON WEDNESDAY.  FOR THE PAST MONTH, OUR BANKERS HAVE RETURNED TO BEING NET SHORT AND THUS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.19. AND WERE UNSUCCESSFUL IN KNOCKING ANY SPEC LONGS, AS WE HAD A STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 639 CONTRACTS. AS WELL, WE HAD 0 NOTICES FOR  EXCHANGE FOR RISK TRANSFER (0 OZ. ) AS THE TOTAL ISSUED IN THIS CATEGORY SO FAR THIS MONTH TOTAL 7.25 MILLION OZ.  WE HAVE FINISHED WITH OUR SPECS BEING SHORT AS THEY COVERED WITH THE RISE IN PRICE .  WE HAVE NOW RETURNED TO OUR USUAL AND CUSTOMARY SCENARIO: BANKERS SHORT AND SPECS LONG.

WE  MUST HAVE HAD: 
A FAIR  ISSUANCE OF EXCHANGE FOR PHYSICALS( 329 CONTRACTS) iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT  4,055. MILLION OZ FOLLOWED BY TODAY’S QUEUE. JUMP   OF 60,000 OZ//NEW STANDING 5.065 MILLION OZ + 7.25 MILLION OF EXCHANGE FOR RISK//TOTAL STANDING 12.315 MILLION OZ////  V)  FAIR SIZED COMEX OI GAIN/ FAIR EFP ISSUANCE/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL  –142

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

TOTAL CONTRACTS for 17 days, total 9669 contracts:   OR 48.345  MILLION OZ PER DAY. (569 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 48.345 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, 61.395 MILLION OZ FINAL

JAN 2023///   48.345 MILLION OZ 

RESULT: WE HAD A SMALL SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 168 WITH OUR  $0.19 GAIN IN SILVER PRICING AT THE COMEX// WEDNESDAY.,.  THE CME NOTIFIED US THAT WE HAD A FAIR  SIZED EFP ISSUANCE  CONTRACTS: 329 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 JAN OF  4.055 MILLION  OZ FOLLOWED BY TODAY’S 60,000 OZ. JUMP  /  //NEW STANDING RISES TO   5.065 MILLION OZ + EFR 7.25 MILLION = 12.315 MILLION OZ.  .. WE HAVE A FAIR SIZED GAIN OF 497 OI CONTRACTS ON THE TWO EXCHANGES

 WE HAD  12  NOTICE(S) FILED TODAY FOR  60,000   OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE  BY A  STRONG SIZED 7141  CONTRACTS  TO 507,068 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 -4568 CONTRACTS.

.

 WE HAD A  STRONG SIZED INCREASE  IN COMEX OI ( 7141 CONTRACTS) WITH OUR STRONG  $7.55 GAIN IN PRICE. WE ALSO HAD A SMALL INITIAL STANDING IN GOLD TONNAGE FOR JAN. AT 2.1710 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S  QUEUE JUMP OF 1 CONTRACTS OR 100 OZ  //(QUEUE JUMPING = EXERCISING LONDON BASED EFP’S ) (EFP is the transfer of  contracts immediately to London for potential gold deliveries originating from London). NEW STANDING 20.2301 TONNES

YET ALL OF..THIS HAPPENED WITH OUR  $7.55 GAIN IN PRICE  WITH RESPECT TO WEDNESDAY’S TRADING

WE HAD A VERY STRONG SIZED GAIN OF 12,172 OI CONTRACTS (37.86 PAPER TONNES) ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 5031 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 507,068

IN ESSENCE WE HAVE A VERY STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 12,172 CONTRACTS  WITH 7141 CONTRACTS INCREASED AT THE COMEX AND 5031 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 12,172 CONTRACTS OR 37.86 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5031 CONTRACTS) ACCOMPANYING THE  STRONG SIZED GAIN IN COMEX OI (7141) TOTAL GAIN IN THE TWO EXCHANGES 12,172 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR NORMAL FORMAT OF BANKERS GOING SHORT AND SPECULATORS GOING LONG  ,2.) SMALL INITIAL STANDING AT THE GOLD COMEX FOR JAN. AT 2.1710 TONNES FOLLOWED BY TODAY’S  QUEUE JUMP OF 100 OZ /NEW STANDING 20.2301 TONNES///3) ZERO LONG LIQUIDATION //4)    VERY STRONG SIZED COMEX OPEN INTEREST GAIN 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER/

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023 INCLUDING TODAY

JAN

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

66,695  CONTRACTS OR 6,669,500 OZ OR 207.449 TONNES 17 TRADING DAY(S) AND THUS AVERAGING: 3923 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 17 TRADING DAY(S) IN  TONNES:207.449   TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS  207.449/3550 x 100% TONNES  5.85% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023 

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:  185.59 tonnes // FINAL

JAN 2023:    207.449 TONNES INITIAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!

SPREADING OPERATIONS

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

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW  ACTIVE FRONT MONTH OF FEB. WE ARE NOW INTO THE SPREADING OPERATION OF BOTH GOLD (

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  ACTIVE DELIVERY MONTH OF FEB., FOR BOTH GOLD:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (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 ROSE BY A SMALL  SIZED 168 CONTRACTS OI TO  135,090 AND CLOSER TO 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 329 CONTRACTS

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

MAR 329 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1219 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI GAIN  OF 168 CONTRACTS AND ADD TO THE  329 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A GOOD SIZED GAIN OF 497 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. 

THUS IN OUNCES, THE GAIN  ON THE TWO EXCHANGES 2.485 MILLION OZ//

OCCURRED WITH OUR 19 CENT GAIN 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//CORN

7/CRYPTOCURRENCIES/BITCOIN ETC

3. ASIAN AFFAIRS

i)THURSDAY MORNING//WEDNESDAY  NIGHT

SHANGHAI CLOSED    //Hang Seng CLOSED      /The Nikkei closed UP 32.26 PTS OR 0.12%            //Australia’s all ordinaries CLOSED DOWN 0.29%   /Chinese yuan (ONSHORE) closed //OFFSHORE CHINESE YUAN UP TO 6.7408//    /Oil UP TO 81.23 dollars per barrel for WTI and BRENT AT 87.34   / Stocks in Europe OPENED ALL GREEN  ONSHORE YUAN TRADING XXXX LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING UP AGAINST US DOLLAR/OFFSHORE STRONGER

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 ROSE BY A  STRONG SIZED 7141 CONTRACTS UP TO 507,068 WITH OUR  GAIN IN PRICE OF $7.55

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE NON-ACTIVE DELIVERY MONTH OF JAN…  THE CME REPORTS THAT THE BANKERS ISSUED A STRONG  SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS 5031 EFP CONTRACTS WERE ISSUED:  ;: ,  . 0 FEB: 5031 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  5031   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 VERY STRONG SIZED  TOTAL OF 12,172 CONTRACTS IN THAT 5031 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A  STRONG SIZED  COMEX OI  GAIN OF 7141 CONTRACTS..AND  THIS  VERY STRONG SIZED GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR  ADVANCE  IN PRICE OF $7.55. WE ARE NOW WITNESSING THE BANKERS GOING NET SHORT AND THE SPECS GOING NET LONG .

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING Jan  (20.2301)

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 

Dec. 64.541 tonnes(TOTAL  THIS YEAR 656.076 TONNES

JAN/2023: 20.2301 tonnes

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE $7.55)  //// AND WERE  UNSUCCESSFUL IN KNOCKING ANY  SPECULATOR LONGS AS WE HAD A VERY STRONG GAIN OF 12,172 CONTRACTS ON OUR TWO EXCHANGES  //    WE HAVE GAINED A TOTAL OI  OF 52.068 PAPER TONNES OF TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR JAN. (2.1710 TONNES) FOLLOWED BY TODAY’S QUEUE JUMP  OF 100 oz  OR 0.00311 TONNES… ALL OF THIS WAS ACCOMPLISHED WITH OUR  RISE IN PRICE  TO THE TUNE OF $7.55.  

WE HAD – 4568 CONTRACTS  COMEX TRADES REMOVED FROM OPEN INTEREST AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES 12,172 CONTRACTS OR 1,217,200 OZ OR 37.86 TONNES

Estimated gold comex today 335,106//good//

final gold volumes/yesterday  286,498///good

INITIAL STANDINGS FOR  JAN 2023 COMEX GOLD //JAN 26//

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	1,800.456. oz Loomis Manfra 56 kilobars//both banks   .
Deposit to the Dealer Inventory in oz	nil oz
Deposits to the Customer Inventory, in oz	192.906 oz Brinks 6 kilobars
No of oz served (contracts) today	1 notice(s) 100 OZ 0.00311 TONNES
No of oz to be served (notices)	176 contracts    17,600 oz 0.5474 TONNES
Total monthly oz gold served (contracts) so far this month	6328  notices 632,800 19.6827 TONNES* *new record for a January
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: 1

i) Into Brinks 192.906 oz

(6 kilobars)

total deposits: 192.906 oz

 customer withdrawals: 2

i) Out of Loomis:  1607.550 oz (50 kilobars)

ii) Out of Manfra 192.906 oz  (6 kilobars)

Total withdrawals:  1800.456 oz

total in tonnes: 0.056607  tonnes

Adjustments:1

HSBC  dealer to customer:  96.453  oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JANUARY.

For the front month of JANUARY we have an oi of 177 contracts having lost 244  contracts

We had 243 notices served on Tuesday, so we lost 1  contracts or an additional 100 oz(0.00311 tonnes) will stand for delivery in this

very non active delivery month of January. (queue jump) 

February lost  25,202  contacts  to 121,502  (looks like Feb. is going to be a huge delivery month

March gained 98 contracts to stand at 1280.

April gained 29,401 contracts up to 317,961

We had 1  notice(s) filed today for 100 oz 

Today, 0 notice(s) were issued from J.P.Morgan dealer account and  0  notices were issued from their client or customer account. The total of all issuance by all participants equate to  1  contract(s) of which 0   notices were stopped (received) by  j.P. Morgan dealer and 0  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 JAN. /2023. contract month, 

we take the total number of notices filed so far for the month (6328 x 100 oz , to which we add the difference between the open interest for the front month of  (JANUARY 177 CONTRACTS)  minus the number of notices served upon today  1 x 100 oz per contract equals 650,400 OZ  OR 20.230 TONNES the number of TONNES standing in this    non active month of January. This is a new record for gold standing in the month of January.

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

No of notices filed so far (6328 x 100 oz+   (177 OI for the front month minus the number of notices served upon today (1)x 100 oz} which equals 650,400 oz standing OR 20.2301 TONNES in this NON  active delivery month of JAN..

TOTAL COMEX GOLD STANDING: 20.2301 TONNES  (A HUGE STANDING FOR METAL AND A NEW RECORD FOR ANY JANUARY MONTH )//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:  1,910,035.089 OZ   59.41 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED:  22,313,251.375 OZ  

TOTAL REGISTERED GOLD:  11,020,384.584 OZ     (342.78 tonnes)..dropping fast

TOTAL OF ALL ELIGIBLE GOLD: 11,292,866.891 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 9,110,349 OZ (REG GOLD- PLEDGED GOLD) 283.37 tonnes//rapidly declining 

END

SILVER/COMEX

JAN 26/2023//INITIAL JAN. SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	1,472,699.220 oz Brinks CNT Delaware JPMorgan
Deposits to the Dealer Inventory	nil OZ
Deposits to the Customer Inventory	1,055,788.769 oz CNT Delaware HSBC
No of oz served today (contracts)	12 CONTRACT(S)    (60,000 OZ)
No of oz to be served (notices)	1 contracts  (5,000 oz)
Total monthly oz silver served (contracts)	1012 contracts  (5,060,000 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 3 deposits into the customer account

i) Into CNT  599,229.410 oz

ii) Into Delaware:  17,815.134 oz

iii) Into HSBC:  438,744.225 oz

Total deposits:  1,055,788.769 oz 

JPMorgan has a total silver weight: 149.388 million oz/292.767 million =50.99% of comex .//dropping fast

  Comex withdrawals: 4

i) Out of Delaware: 2998.400 oz

ii) Out of Brinks 994.700 oz

iii) Out of CNT  277927.010 oz

iv) Out of JPMorgan:  1189,779.110 oz 

Total withdrawals; 1,471,699.220 oz

adjustments: 3all dealer to customer

i) 101,150.000 JPMorgan

ii) 14,582.036 oz Loomis

iii) 4868.200 oz Manfra

the silver comex is in stress!

TOTAL REGISTERED SILVER: 33.060 MILLION OZ (declining rapidly).TOTAL REG + ELIG. 292,.767 MILLION OZ 

CALCULATION OF SILVER OZ STANDING FOR JAN

silver open interest data:

FRONT MONTH OF JAN/2023 OI: 13  CONTRACTS HAVING GAINED 5  CONTRACT(S.). WE HAD 7 NOTICES

FILED ON TUESDAY SO  WE   GAINED  12 CONTRACT(S)  OR AN ADDITIONAL 60,000 OZ WILL STAND OVER HERE

FEB> LOST 65 CONTRACTS TO  129 CONTRACTS

March LOST 1521 CONTRACTS DOWN TO 108,015 contracts

TOTAL NUMBER OF NOTICES FILED FOR TODAY:12 for  60,000 oz

Comex volumes// est. volume today  86,496//strong  

Comex volume: confirmed yesterday: 61,519 contracts ( fair)

To calculate the number of silver ounces that will stand for delivery in JANUARY. we take the total number of notices filed for the month so far at 1012 x  5,000 oz = 5,060,000 oz 

to which we add the difference between the open interest for the front month of JAN(13) and the number of notices served upon today 12 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the JAN./2023 contract month: 1012 (notices served so far) x 5000 oz + OI for the front month of JAN (13 – number of notices served upon today (12) x 500 oz of silver standing for the JAN. contract month equates 5.065 million oz  + 7.25 MILLION OZ ( EXCHANGE FOR RISK) = 12.315MILLION OZ//(TOTAL OZ OF SILVER STANDING).

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:52,938// est. volume today//   fair

Comex volume: confirmed yesterday: 96,020 contracts ( very good/excellent)

END

GLD AND SLV INVENTORY LEVELS

JAN 26/WITH GOLD DOWN $11.55 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.03 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 919.37 TONNES

JAN 25/WITH GOLD UP $7.55 TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .28 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 917.34 TONNES

JAN 24/WITH GOLD UP $7.35 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 917.06 TONNES

JAN 23/WITH GOLD UP $0.25 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 4.63 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 917.06 TONNES

JAN 20/WITH GOLD UP $4.75 TODAY;BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.45 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 912.43 TONNES

JAN 19/WITH GOLD UP $16.95 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.74 TONNES INTO THE GLD///INVENTORY RESTS AT 910.98TONNES

JAN 18/WITH GOLD DOWN $1.95 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.9 TONNES FROM THE GLD////INVENTORY RESTS AT 909.24 TONNES

JAN 17/WITH GOLD DOWN $11.45 TODAY; NO  CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 912.14 TONNES

JAN 13/WITH GOLD UP $22.90 TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .29 TONNES FROM THE GLD///INVENTORY RESTS AT 912.14 TONNES

JAN 12/WITH GOLD UP $20.55 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.74 TONNES FROM THE GLD///INVENTORY RESTS AT 912.43 TONNES

JAN 11/WITH GOLD UP $1.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 914.17 TONNES

JAN 10/WITH GOLD UP $1.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD///INVENTORY RESTS AT 915.33 TONNES

JAN 9/WITH GOLD UP $ 8.60 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.44 TONNES FROM THE GLD//.//INVENTORY RESTS AT 915.33 TONNES

JAN 6/WITH GOLD UP $28.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 916.77 TONNES

JAN 5/WITH GOLD DOWN $17.05 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .87 TONNES FORM THE GLD////INVENTORY RESTS AT 916.77 TONNES

JANUARY 4/WITH GOLD UP $32.40 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 917.64 TONNES

JAN 3/WITH GOLD UP $20.00 TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD:STRANGE: A WITHDRAWAL OF .87 TONNES FORM THE GLD////INVENTORY RESTS AT 917.64 TONNES

DEC 30/WITH GOLD UP $.80 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 918.51 TONNES

DEC 29//WITH GOLD UP $8.35 TODAY:; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 918.51 TONNES

DEC 28/WITH GOLD DOWN $6.80 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A MASSIVE DEPOSIT OF 5.50 TONNES INTO THE GLD..//INVENTORY REST S AT 918.51 TONNES

DEC 27/WITH GOLD UP $18.15 TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .87 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 913.01 TONNES

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

GLD INVENTORY: 919.37  TONNES

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

JAN 26/WITH SILVER UP 8 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 900,000 OZ OF SILVER INTO THE SLV////INVENTORY RESTS AT 521.900 MILLION OZ//

JAN 25/WITH SILVER UP 19 CENTS TO TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.3 MILLION OZ OF SILVER INTO THE SLV////INVENTORY RESTS AT 521.000 MILLION OZ

JAN 24/WITH SILVER UP 21 CENTS TODAY: WHAT!! A MASSIVE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 20 MILLION OZ INTO THE SLV/( OCCURRED (LATE LAST NIGHT)//INVENTORY RESTS AT 518.70 MILLION OZ//

JAN 23/WITH SILVER DOWN 40 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.4 MILLION OZ OF SILVER INTO THE SLV////INVENTORY RESTS AT 498.7 MILLION OZ//

JAN 20.WITH SILVER UP 9 CENTS TODAY; SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 750,000 OZ OF SILVER FROM THE SLV////INVENTORY RESTS AT 497.300 MILLION OZ

JAN 19/WITH SILVER UP 24 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 498.05 MILLION OZ

JAN 18/WITH SILVER DOWN 41 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 8.15 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 498.05 MILLION OZ///

JAN 17/WITH SILVER DOWN 35 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 506.200 MILLION OZ//

JAN 13/WITH SILVER UP 46 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.5 MILLION OZ FROM THE SLV..//INVENTORY RESTS AT 506.200 MILLION OZ//

JAN 12/WITH SILVER UP 44 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 508.700 MILLION OZ/

JAN 11/WITH SILVER DOWN 17 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 508.700MILLION OZ

JAN 10/WITH SILVER DOWN 21 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 509.65 MILLION OZ

JAN 9/WITH SILVER DOWN 9 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 509.65 MILLION OZ//

JAN 6/WITH SILVER UP 54 CENTS TODAY;BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.20 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 509.65 MILLION OZ//

JAN 5/WITH SILVER DOWN 50 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.10 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 505.45 MILLION OZ//

JAN 4/WITH SILVER DOWN 26 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.3 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 506.55 MILLION OZ/

JAN 3/WITH SILVER UP 24 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: STRANGE: A WITHDRAWAL OF 1.2 MILLION OZ FROM THE SLV//////INVENTORY RESTS AT 507.85 MILLION OZ/

DEC 30/WITH SILVER DOWN 21 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 509.050 MILLION OZ

DEC 29/ WITH SILVER UP $0.63 TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 509.050 MILLION OZ

DEC 28//WITH SILVER DOWN 46 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.715 MILLION OZ INTO THE SLV///..INVENTORY RESTS AT 509.050 MILLION OZ

DEC 27/WITH SILVER UP 34 CENTS TODAY; SMALL CHANGES IN SILVER INVENTORY AT THE SLV/A WITHDRAWAL OF 550,000 OZ OF SILVER FROM THE SLV////INVENTORY RESTS AT 507.350 MILLION OZ//

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.

CLOSING INVENTORY 521.900 MILLION OZ//

PHYSICAL GOLD/SILVER STORIES

1:Peter Schiff

end

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

END

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

Craig Hemke explains why the Comex is a complete fraud.  Do not except a gold bank run starting at the Comex. It will start elsewhere

Craig Hemke/Sprott/GATA)

Craig Hemke at Sprott Money: Gold bank run won’t start at the Comex

Submitted by admin on Wed, 2023-01-25 16:50Section: Daily Dispatches

4:50p ET Wednesday, January 25, 2023

Dear Friend of GATA and Gold:

Craig Hemke of the TF Metals Report, writing today at Sprott Money, concludes that no serious gold action is taking place on the New York Commodities Exchange. Rather, Hemke writes, the same four big banks are just shuffling among themselves the contracts nominally being bought and sold.

When a run on the gold banking system develops, Hemke writes, it’s not likely to happen at the Comex. 

Hemke’s analysis is headlined “Comex January Gold Deliveries” and it’s posted at Sprott Money here:

https://www.sprottmoney.com/blog/COMEX-January-Gold-Deliveries-January-25-2023

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

end

4. Other gold/silver commentaries

Blain: Buy Gold To Fund Bottom-Fishing

THURSDAY, JAN 26, 2023 – 09:35 AM

Authored by Bill Blain via MorningPorridge.com,

“Gold is enough, Beautiful gold, Lovable gold, Spendable gold..….”

Gold – can’t eat it, can’t use it, but its everything crypto never was: tangible, exchangeable, a store of value, and a kitty for when things get tough. In uncertain markets…. Don’t forget the yellow stuff.

Writing the morning porridge after Burn’s Night, Scotland’s celebration of our acclaimed national poet, Robert Burns, following Whisky and Haggis is never easy… So in order to force my brain back into motion… let’s consider Gold!

Trying putting Gold in the context of today’s markets…. So foul and fair a market I have not seen. (Extra points if you know the reference from the Scottish Play – and what happens next!)

One hand we have a pandemic of optimism that inflation is broken, central banks are going to pivot and start cutting rates, thus its unbounded joy at the prospect of a minor downturn, recovery, growth and a swift rise in earnings pushing up stocks, while bonds rally into the ease. The China reopening will fuel global recovery. Put your buying boots on!

On the other hand are the ongoing portents of sticky inflation, central banks wanting to normalise positive interest rates around 2% inflation and 4% rates to promote functional capitalism (the end of the era of cheap money), and the shake-out in Zombie, over-levered companies and speculative hype that’s driven financial asset price inflation and now blocks growth and productivity gains. Stabilising the global economy will see rates and inflation higher for longer.

Then layer on the real-world challenges of War In Ukraine, Geopolitical threats, Energy Security, the consumer Cost of Living Crisis and Income Inequality, climate change, plus a host of immediate challenges emerging to the political order in the West; from failing services across health, housing, education to increased populist threats from Left and Right.

Pick yer poison and lay yer bets accordingly.

Markets work by reading the uncertain runes of unclear futures. There are threats out there – but outcomes probably fall into the middle. My classic mantra is: “Things are never as bad as you fear, but never as good as you hope.” I see markets as multi-dimensional and complex: a little bit of inflation here will have consequences way over there. Be aware of the complexity.

Many market participants tend to make the mistake of thinking price moves are determined by the linear cause and effect of events – this morning I read on Bloomberg: “High Equity Yields act as a better hedge against higher inflation than fixed income.” That is linearly true, but higher interest rates have consequential lateral effects; reducing consumption thus putting corporate earnings under stress and long-term less sustainable.

Nothing in markets is ever simple…. Think laterally. Which finally leads us to Gold and its place in uncertain markets.

According to the chart I was looking at, Gold prices peaked in 1980 at $2500 on an inflation adjusted basis. On a price basis the current price of Gild ($1945) is pretty close to the $1971 price seen during the depth of Covid.

My colleague Ashley Boolell, Shard’s head of commodities, reckons gold is going to a new record level this year, fuelled by a number of factors – not least being the ongoing market uncertainty. Each time we get another unexpected market number, or a corporate shock, it chips way confidence. In uncertain markets Gold is seen as the safe-haven investment – especially when there is the threat of the technical US default on the back of the debt-ceiling being blocked by the Alt-Right of the Republican Party.

Gold pays no interest. There is no return. It has no real use. Gold’s value is its scarcity.

It is formed in supernovas and neutron stars in Galaxies far, far away. All the gold on earth came arrived as space rubble and dust, absorbed as the planet coalesced in the clouds of material around the forming sun. All the gold that’s ever been mined would only just cover a football pitch to the depth of 1 meter. (205,238 tonnes over the entirety of human history according to the World Gold Council.) Aside from some very limited industrial catalyst applications, its not very useful, but because it does not react or tarnish – it’s been worshipped as a thing of value for millennia.

I was once told the prime driver of gold prices is the Monsoon. In wet years Indian farmers get rich on improved crop yields – meaning they buy their daughters more gold bangles for their wedding dowry. It’s a lovely thought – but apparently an exaggeration.

Unlike cryptocurrencies – which tried to push their way into finance as exchangeable stores of value despite their intangibility – gold’s tangibility as a store of value has made it the globally accepted token of wealth since year dot. Over the years it has morphed into a commodity in its own right – traded electronically and held as an investment because of its recognised store of value.

In times of uncertainty gold tends to rise. In times of market uncertainty it’s a very useful asset to hold. The trick to a market sell off is not being short equities when the stock crash comes, but being liquid enough to start buying after the crash or market correction. Analyse any great market tumble and its inevitably followed by a buying window – that delicious moment when the rest of the market is still panicked and fearful, but stock yields look cheap and bonds are selling for pennies because of weakness. That’s the moment to buy – but what with if your liquid bonds are in free-fall and offered only, and stocks are still in free-fall.

That’s when the liquidity of Gold is a marvellous thing. Going into market uncertainty with a nice little stash of gold to finance bottom fishing of distressed cheap assets is a marvellous thing!

Funny moment yesterday when I was chatting to Ashley about Gold y’day. Aside from being our commodities guru, he is also a published Science Fiction author. I asked him about the implications of space mining – which will be a very real thing in the next 50-years. What if a mission to the asteroid belt discovers a 10,000 tonne lump of orbiting gold? (I remember something like that from E Doc Smith’s Lensman series). Ashley told me that’s exactly what he’s writing about now!

END

5.IMPORTANT COMMENTARIES ON COMMODITIES:COPPER

.

end

6.CRYPTOCURRENCY COMMENTARIES/

Looks like they are going after Bankman Fried’s parents!

(zerohedge)

Lawyers Seek To Question Bankman-Fried’s Parents About Their Wealth; Goldman, JPM Revealed As FTX Creditors

THURSDAY, JAN 26, 2023 – 11:37 AM

With the public court of opinion having long ago convicted crypto fraudster Sam Bankman-Fried – even as several notable holdouts such as Bill Ackman  and Andrew Ross-Sorkin remain –  attention is now turning to his just as “effectively altruistic” parents. According to a court filing by bankrupt FTX, SBF’s parent should be forced to answer questions and provide financial documents about their personal wealth and any money they may have gotten from the 30-year-old scammer.

As Bloomberg notes, FTX asked a judge for permission to question under oath Bankman-Fried’s family and a handful of the company’s former top executives as part of a hunt for hidden assets that could be used to repay creditors owed billions of dollars. Or not so hidden: as a reminder in November it was revealed that SBF’s disgraced “progressive” parents – Stanford University law professors Joseph Bankman and Barbara Fried (who on her bio says she has “written extensively on questions of distributive justice, in the areas of tax policy, property theory and political theory” which apparently means using her son’s stolen money to buy herself beachfront mansions) – purchased at least one $16.4 million beachfront “vacation home” in the gated Bahamas community of Old Fort Bay.

The court filing shows “the aggressive approach that FTX advisers are taking to recover any money that Bankman-Fried may have inappropriately handed out.” The company was heavily involved in lobbying politicians and regulators and making campaign donations to Democrats and the White House. Federal prosecutors charged Bankman-Fried with fraud for his role in the collapse of FTX, which filed for bankruptcy in November.

Incidentally, when asked by Reuters in November why the couple decided to buy a vacation home in the Bahamas and how it was paid for, a spokesperson for the professors said only that Bankman and Fried had been trying to return the property to FTX. “Since before the bankruptcy proceedings, Mr. Bankman and Ms. Fried have been seeking to return the deed to the company and are awaiting further instructions,” the spokesperson said.

They’ll now get their chance.

According to the court filing, Joseph Bankman and his wife, Barbara Fried, were actively involved in their son’s company. Joseph Bankman, a law professor at Stanford Law School, offered tax advice to FTX employees and helped recruit the company’s first lawyers, the court filing said, citing media reports. Meanwhile, ultra-progressive liberal, Barbara Fried, founded a political action committee that got money from FTX and its top executives, according to the filing.

It gets better: the brother, Gabriel Bankman-Fried, founded an organization that lobbied members of the US Congress from a multimillion dollar property near the US Capitol, according to the filing.

Finally, for those wondering if the alleged criminal’s parents will be teaching at Stanford Law School next year (one really can’t make this up), the answer is no: apparently not even Stanford will sink that low.

Separately, FTX watchers will recall that early on, the now insolvent exchange asked the bankruptcy judge to keep the names of its thousands of creditors confidential and under seal. Well, we finally got a glimpse at some of the companies that provided money to fund Sam’s discretionary spending (i.e., theft of FTX funds). According to the latest bankruptcy court documents, FTX owes money to a dizzying assortment of firms including Goldman Sachs and JPMorgan.

The 116-page document filed on Wednesday detailing FTX’s creditors contains thousands of entries, and while the names of individuals are redacted, the list identifies heavyweights across Wall Street as holding some kind of claim against Sam Bankman-Fried’s once-giant exchange.

Oh well, time to crack down on the largest Wall Street banks  for enabling the biggest fraud in history.

Joking aside – because everyone knows nothing will ever happen to Goldman and JPM –  another interesting name in the creditor list stands out:

end

Arizona lawmakers are pushing a bill to make Bitcoin legal tender

(zerohedge)

Arizona Lawmakers Push Bill To Make Bitcoin Legal Tender

WEDNESDAY, JAN 25, 2023 – 06:40 PM

A bill introduced by Sen. Wendy Rogers reflects growing interest in bitcoin from U.S. states…

State Sen. Wendy Rogers (R-AZ) has introduced a set of bills aimed at making bitcoin legal tender in Arizona and allowing state agencies to accept bitcoin.

As Bitcoin Magazine’s ‘BTCCasey’ reports, the proposed legislation aims to recognize bitcoin as a legal form of currency in Arizona, allowing it to be used to pay for debts, taxes and other financial obligations.

This would mean that all transactions that are currently done in U.S. dollars could potentially be done with bitcoin, and individuals and businesses would have the option to use bitcoin as they see fit.

Specifically mentioning bitcoin alone, the legal tender bill defines bitcoin as, “the decentralized, peer-to-peer digital currency in which a record of transactions is maintained on the Bitcoin blockchain and new units of currency are generated by the computational solution of mathematical problems and that operates independently of a central bank.”

The acceptance bill is more broad, saying that, “A state agency may enter into an agreement with a cryptocurrency issuer to provide a method to accept cryptocurrency as a payment method of fines, civil penalties or other penalties, rent, rates, taxes, fees, charges, revenue, financial obligations and special assessments to pay any amount due to that agency or this state.”

Additionally, as CoinTelegraph reports, in legislation introduced in the first session of the Arizona State Senate in 2023, Senators Rogers, Borrelli, and Wadsack proposed having Arizona residents decide on amending the state’s constitution in regard to crypto and property taxes.

Should the measure pass the legislature, voters could choose in November 2024 to make virtual currency — specifically tokens that are not “a representation of the United States dollar or a foreign currency” –  tax-exempt.

Under Arizona’s constitution, all federal, state, county and municipal property are tax exempt, as are public debts, many household goods, and certain “stocks of raw or finished materials, unassembled parts, works in process or finished products”.

Data from the Arizona Secretary of State indicates that there were more than 4 million registered voters in the November 2022 general election, with the state leaning slightly Republican.

This is the second time that Sen. Rogers has introduced a bill aimed at making bitcoin legal tender in her state. She introduced the same amendment in January 2022, which died by the second reading.

Although it may appear there are slim chances of the bill passing this time, El Salvador’s adoption of bitcoin as legal tender has proven to be a boon for growth and investment in the country.

Recent actions in states like Texas, New Hampshire, Missouri and Mississippi all indicate increasing U.S. state interest in bitcoin and its benefits.

As bitcoin adoption strengthens, the likelihood of such bills passing will only increase. 

END

.

1. YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS//THURSDAY MORNING.7:30 AM

ONSHORE YUAN: XXX TO  CLOSED

OFFSHORE YUAN: 6.7408

SHANGHAI CLOSED 

HANG SENG CLOSED 

2. Nikkei closed UP 32.26 PTS OR 0.12%  

3. Europe stocks   SO FAR:  ALL GREEN

USA dollar INDEX UP TO  101.59 Euro FALLS TO 1.0893 DOWN 28 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.475!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 129.78/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 DOWN /JAPANESE Yen DOWN CHINESE YUAN:   XX-//  OFF- SHORE: UP

3f Japan is to buy INFINITE  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 UP for WTI and UP FOR Brent this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund UP TO +2.176%***/Italian 10 Yr bond yield RISES to 4.099%*** /SPAIN 10 YR BOND YIELD RISES TO 3.165…** DANGEROUS//

3i Greek 10 year bond yield RISES TO 4.194//

3j Gold at $1936.25//silver at: 23.86  7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble UP 0  AND  22/100        roubles/dollar; ROUBLE AT 69.05//

3m oil into the 81 dollar handle for WTI and  87 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 129.78/10 YEAR YIELD AFTER BREAKING .54% RISES TO .475% ON CENTRAL BANK (JAPAN) INTERVENTION

30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.9187– as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0027 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: 3.482% UP 2 BASIS PTS…GETTING DANGEROUS

USA 30 YR BOND YIELD: 3.635 UP 1 BASIS PTS//

USA DOLLAR VS TURKISH LIRA: 18,81…

GREAT BRITAIN/10 YEAR YIELD: 3.320 % UP 8 BASIS PTS

end

i.b  Overnight:  Newsquawk and Zero hedge:

 FIRST, ZEROHEDGE (PRE USA OPENING// MORNING

Futures Rise Boosted By Solid Tesla Earnings, Chevron’s Giant Buyback

THURSDAY, JAN 26, 2023 – 08:06 AM

In a mirror image of Tuesday’s action, when MSFT earnings hammered stocks (after first headfaking them higher) only to see the selloff reverse completely during the course of Wednesday trading, on Thursday US equity futures and tech stocks were set to gain after an upbeat earnings report from Tesla reinforced optimism about the health of Corporate America. As of 7:30am, Nasdaq 100 futures were up 0.7% while S&P 500 futures rose 0.3%. Tesla jumped about 8% in premarket trading after the electric-car maker reported better-than-expected profit and said it was on track to deliver about 1.8 million vehicles this year. Risk sentiment was boosted by news that US energy giant Chevron had authorized a massive $75 billion stock buyback, representing 22% of its outstanding shares, helping elevate energy stocks around the globe. Asia stocks jumped to 9-month highs as Hong Kong returned from break and European stocks rose by 0.4%. Meanwhile, the dollar continued to weaken as speculation continued to mount that the Fed is drawing closer to the end of its rate-hiking cycle, and would follow in the footsteps of first Canada and then Indonesia, both of which have officially paused. Bonds and gold edged lower.

In premarket trading, all eyes were on Tesla which rose 7.3% after the electric-car maker reported better-than-expected profits and said it was on track to deliver about 1.8 million vehicles this year. Analysts noted that the EV market leader’s output target looks conservative as new factories in Berlin and Austin are set to add more capacity this year. Among peers: Rivian (RIVN US) +3.5%, Lucid (LCID US) +3.4%, Nikola (NKLA US) +1.9%, Nio (NIO US) +4.9%, Xpeng (XPEV US) +5.1%, Li Auto (LI US) +5%. Bank stocks traded higher in premarket trading Thursday, putting them on track to gain for a second straight day. In corporate news, a New York Stock Exchange employee failed to properly shut down a disaster-recovery system, leading to Tuesday’s chaotic opening session. Meanwhile, Cboe Global Markets wants to list more tokens on its crypto exchange, as established firms from traditional finance seek to capitalize on demand for reliable counterparties following the collapse of FTX. Here are some other notable premarket movers:

• Chevron (CVX US) gains 2.5% after it announced plans to buy back $75 billion of shares and increase dividend payouts after a year of record profits that evoked angry denunciations from politicians around the world as soaring energy prices squeezed consumers.
• Pfizer (PFE US) drops 1.8% in premarket trading as UBS downgrades the stock to neutral, saying estimates for the pharma giant’s Covid-19 franchise still look too high.
• IBM (IBM US) shares slip 2% after the tech infrastructure and IT services company’s free cash flow for 4Q fell short of estimates, which Morgan Stanley analysts say was a “significant blemish” in the quarter. That overshadowed IBM’s estimate-beating revenue and profit for the fourth- quarter.
• BuzzFeed (BZFD US) shares were indicated up about 35% following a Wall Street Journal report that the company reached a content creation deal with Meta. The deal was agreed last year and is worth nearly $10 million, WSJ cites people familiar with the matter as saying.
• Seagate (STX US) shares rise 7.6% as its quarterly update was better than expected and the computer- hardware firm’s guidance underpins a positive view on the stock, analysts say.
• Teradyne (TER US) falls 3% after its 1Q earnings forecast missed the average analyst expectation, on lower demand for semiconductors and storage tests. Fourth-quarter earnings beat analysts’ estimates.
• Las Vegas Sands (LVS US) shares gain 2.1% as analysts raise their price targets on the stock. They said better-than-expected results despite travel restrictions boded well for a recovery.

US stocks have kicked off 2023 with a rally that has set the S&P 500 on course for its best January since 2019, as investors bet that the Federal Reserve will slow the pace of rate hikes in time to avert a recession. Deutsche Bank AG strategists said this week they expect further gains in the first quarter as an economic contraction is “running late.”

Commenting on yesterday’s dramatic market reversal, Goldman trader John Flood writes that “when the market/stocks dont go down on bad news (MSFT guide) typically a bullish signal. I think we learned a lot from this price action today: this mkt is more resilient than most of us are giving it credit for (be very thoughtful/selective with your short positions as squeezes will be common this Q). Worth noting CVX raised the dividend by 6% and authorized a monster $75B buyback…energy complex will outperform on this tomorrow. Reminder buyback blackout period ends post close this Friday.“

Today all eyes will be on US GDP figures due later today, with economists expecting the data to show a slowdown in growth at the end of the year. Focus has also been on the fourth-quarter earnings season for signs of how companies plan to navigate slowing demand and elevated inflation. Analysts are projecting the first quarterly decline in US profits since 2020, but some market strategists have warned profit margin estimates for 2023 are still too high.

“Earnings have not been great but they are not disastrous either,’ said Rupert Thompson, chief economist at asset manager Kingswood Holdings Ltd. “Institutional investors have been short equities so you are seeing some of those positions being covered.”  Thompson sees the January stock surge as overdone, given recession risks ahead, but did not discount further short-term gains because “if you do get a 5% pullback, people who missed the rally may think ‘shall we just bite the bullet now rather than wait for another 5% fall?”

“Sentiment remains fixated on the path of inflation, and where the Fed will go with interest-rate policy,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. Today’s economic data will be crucial to see “whether demand is being squeezed out of the economy and whether more storm clouds are gathering on the horizon,” she said.

Soft-landing bets for the US economy and expectations the Federal Reserve is nearing the end of its rate-hiking cycle have lifted stock markets and put the dollar on course for its worst monthly performance since last May. On Thursday, it held around flat against its Group-of-10 peers as investors awaited economic growth and jobs data as well as a core price index that could determine the Fed’s policy path.

In Europe, the Stoxx 600 was higher by 0.5% with outperformance in the tech sector after Nokia and STMicroelectronics posted better-than-expected numbers. Results from telecoms group Nokia Oyj and chipmaker STMicroelectronics NV were applauded by investors, helping to lift the Stoxx 600 index by half a percent. Here are some of the biggest European movers on Wednesday:

• Sabadell shares soar as much as 10% after the Spanish lender reported 4Q net profit that beat estimates and gave above- consensus estimates guidance
• Sartorius AG rises as much as 8.3% after the laboratory equipment firm reassured the market with an update to its financial targets; its subsidiary Sartorius Stedim Biotech rises, too
• STMicro jumps as much 9.3% after the chipmaker projected first-quarter and full-year sales ahead of consensus estimates, defying a slowdown in the broader semiconductor industry
• Nokia shares gain as much as 7.2%, the biggest intraday climb since July, after the telecom equipment maker outlined full-year outlook that met expectations
• Diageo falls as much as 7.4%, weighing on peers in the alcohol and beverages sector, after the Johnnie Walker maker’s results disappointed in North America and delivered an uncertain outlook
• Volvo shares slide as much as 4.9% in early trading after the Swedish truck producer reported 4Q22 earnings that came in below consensus
• SEB falls as much as 4.8%, the most since October, after the Swedish lender reported 4Q figures that beat expectations but were of a low quality, according to Citi
• Novartis falls as much as 2.4% on being cut to neutral from buy at Citi on a more cautious outlook for the Swiss pharma group’s cholesterol drug Leqvio and prostate cancer drug Pluvicto
• SAP shares fall as much as 4.1% after it’s free cash flow outlook for 2023 missed estimates, even though the firm still projected at least a double-digit growth for operating profits

Earlier in the session, stocks in Asia Pacific rose for a fifth straight day as investors in Hong Kong returned from Lunar New Year holidays that delivered a boost to consumption. The MSCI Asia Pacific Index climbed as much as 0.8% to the highest since April 22. Hong Kong-listed stocks rallied as data on spending and tourism during the three-day break signaled a recovery in demand is gaining traction in China. The Hang Seng Index closed at its highest since March. “Stocks in Hong Kong would probably remain on the stronger side,” Chetan Seth, an Asia Pacific equity strategist at Nomura, told Bloomberg Television. “What we might see in the months ahead is improvement in activity indicators.”  Benchmarks in South Korea, Indonesia and Singapore also rose as traders assessed the global economy’s prospects.

China’s reopening has triggered a rebound across Asia, with investors now looking beyond Covid infection figures to evaluate how a recovery in the region’s largest economy will impact earnings. The MSCI Asia gauge is outperforming the S&P 500 by more than four percentage points so far in 2023

Japanese stocks fell, while markets in Australia, China, India, Taiwan and Vietnam were closed. Japanese stocks closed slightly lower, erasing early gains and halting a four-day winning streak, as investors assessed prospects for corporate earnings and the global economy. The Topix fell 0.1% to close at 1,978.40, while the Nikkei declined 0.1% to 27,362.75. Sony contributed the most to the Topix decline, decreasing 1.3%. Out of 2,161 stocks in the index, 893 rose and 1,116 fell, while 152 were unchanged. “There is a continued wait-and-see mood as there are two important indicators, the FOMC meeting and ISM employment reports coming up next week,” said Shogo Maekawa a global market strategist at JP Morgan Asset Management

In FX, the Bloomberg Dollar Index swung between moderate gains and losses. The Norwegian krone and Australian dollar led gains, while Sweden’s krona lagged.  The euro retreated after six days of gains versus the greenback, though it is likely to enjoy continued monetary policy support, as several European Central Bank rate-setters spoke in favor of further hefty policy-tightening over coming months.  Traders are likely to parse reports on US economic growth, initial jobless claims and a core price index due Thursday to gauge if the Fed will opt for a smaller rate hike on Feb. 1. Recent commentary from some central bank officials has backed the case for a quarter point increase

In rates, treasuries were lower after following gilts and, to a lesser extent, bunds during European morning. US yields cheaper by up to 4bp across long-end of the curve which leads losses on the day; 10-year yields back up to around 3.48% with gilts underperforming by additional 2bp in the sector and bunds trading broadly in line. UK and German 10-year yields rise by 4bps and 2bps respectively. A raft of US economic data is set to be released, and auction cycle concludes with 7-year notes following strong demand for 5- and 2-year sales. $35b 7-year notes at 1pm New York time is final coupon auction of the November-to-February financing quarter; all previous coupon auctions during January have stopped through. The WI 7-year around 3.525% is ~40bp richer than January’s stop-out and below auction stops since August.

Saira Malik, chief investment officer of Nuveen, said earnings risk in a consumer-led slowdown will act as a headwind to equities, with a shift into bonds underscoring the fragile sentiment. “You can start to increase your duration in fixed-income and get strong total returns in it without a lot of these heavy macro risks that are going to hit equities,” Malik said in an interview with Bloomberg TV. “Equities considering their valuation are less attractive.”

Elsewhere, oil prices rose for a second day, lifted by expectations of demand recovery in China. Crude future advance with WTI gaining 0.9% to trade near $80.90. Spot gold falls roughly 0.5% to trade near $1,937/oz.

Bitcoin fell more than 2%, reversing much of Wednesday’s gain.

Looking to the busy day ahead now, data releases from the US include the advance estimate of Q4 GDP, preliminary durable goods orders for December, new home sales for December and the weekly initial jobless claims. Otherwise, earnings releases include Visa, Mastercard, Intel, American Airlines and Comcast.

Market Snapshot

• S&P 500 futures up 0.2% to 4,038.75
• MXAP up 0.6% to 170.22
• MXAPJ up 1.1% to 558.68
• Nikkei down 0.1% to 27,362.75
• Topix down 0.1% to 1,978.40
• Hang Seng Index up 2.4% to 22,566.78
• Shanghai Composite up 0.8% to 3,264.81
• Sensex down 1.3% to 60,205.06
• Australia S&P/ASX 200 down 0.3% to 7,468.30
• Kospi up 1.7% to 2,468.65
• STOXX Europe 600 up 0.5% to 454.33
• German 10Y yield little changed at 2.19%
• Euro down 0.1% to $1.0900
• Brent Futures up 0.4% to $86.50/bbl
• Gold spot down 0.5% to $1,937.17
• U.S. Dollar Index up 0.17% to 101.81

Top Overnight Stories

1. BOJ members were divided over whether the 2% inflation goal could be sustainably achieved and felt the extreme level of accommodation should be sustained. Also, The IMF suggested that the BOJ could allow more flexibility in 10-year bond yields, a move that would involve policy changes for the central bank. RTRS / Nikkei
2. China’s most scenic destinations have been inundated during the Spring Festival holiday, as Beijing’s shift away from Covid Zero spurred a travel frenzy despite the country’s ongoing omicron outbreak. BBG
3. Bank of Indonesia has delivered enough interest-rate increases, according to Governor Perry Warjiyo, who signaled that this round of tightening is coming to an end as the Federal Reserve also winds down. This is the second central bank in as many days (after the Bank of Canada yesterday) to signal an end to rate hikes. BBG
4. Pakistan’s economy is at risk of collapse, with rolling blackouts and a severe foreign currency shortage leaving businesses struggling to operate as authorities attempt to revive an IMF bailout to relieve the deepening crisis. FT
5. Adani Group may take legal action against Hindenburg Research after the US short seller alleged “brazen” market manipulation and accounting fraud. Shares of Adani-related entities slumped yesterday, shaving $12 billion off the empire of Asia’s richest man, and a raft of its companies’ dollar bonds fell further today. BBG
6. Eurozone officials start talks on creating a huge multibillion-euro fund to compete w/the US green energy subsidies. London Times
7. The NYSE mayhem earlier this week was due to simple human error, people familiar said — an exchange employee didn’t correctly shut down a backup system running overnight so heading into Tuesday, the NYSE’s computers treated the 9:30 a.m. bell as a continuation of trading, skipping the opening auctions. No word yet on the cost of the chaos. BBG
8. Donald Trump’s back. Meta will reinstate the former president’s social media accounts “in the coming weeks” following a two-year suspension. He had 34 million followers on Facebook and 23 million on Instagram back in 2021 but, more important, his re-election campaign will now be able to buy ads to raise money via direct appeals or by capturing users’ contact info to solicit them directly. BBG
9. Tesla jumped as much as 8% premarket after profit beat, though there were mixed signals on the outlook. Elon Musk said production may top 1.8 million vehicles this year. BBG

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded somewhat mixed amid key holiday closures and after the flat handover from Wall St where the major indices recouped most of their initial losses after the BoC’s dovish hike. Nikkei 225 was subdued amid a firmer currency and upside in yields, while the government also lowered its overall economic assessment for the first time in 11 months. KOSPI gained despite the weaker-than-expected GDP data although the finance minister flagged the likelihood of a return to growth for the current quarter. Hang Seng outperformed as participants in Hong Kong returned from the Lunar New Year holiday and were greeted by strength in tech, property and autos, although trade across the rest of the region remained relatively quiet owing to the closures in Australia, China, Taiwan, India and Vietnam.

Top Asian News

• BoJ Summary of Opinions from the January meeting stated it is appropriate to maintain current monetary easing including YCC and that the BoJ must keep yields from rising across the curve while being mindful of the bond market function. Furthermore, they must spend more time to gauge the impact of the December decision and must conduct a review of policy at some point although it is appropriate to maintain easy policy for now, while they still see some distance in achieving the price goal and noted it will take some time to achieve sustained wage growth.
• IMF (policy proposal on Japan) says the BoJ should allow bond yields to move in a more flexible manner; If significant upside inflation risks materialise, BoJ needs to be ready to withdraw stimulus strong, e.g. by increasing interest rates; possible options for the BoJ include widening the yield bank, increasing the yield target, targeting shorter yields and shifting to a quantity target; BoJ policy is appropriate as inflation is likely to ease but risks are becoming more pronounced; FX intervention should be limited to special circumstances such as disorderly market conditions.
• Japan is to downgraded its COVID classification on May 8th, via NHK.

European bourses are firmer across the board, Euro Stoxx 50 +0.6%, with a busy morning for earnings dictating the state of play before Stoxx 600 heavyweight LVMH’s (MC FP) earnings, due after-market on Thursday. Stateside, futures are firmer across the board, ES Mar’23 +0.2% and comfortably above the 4k mark and as such the 10- and 200-DMAs which reside on either side of the figure. NDX +0.6% is the incremental outperformer after a well received update from Tesla (TSLA) +7% pre-market while IBM (IBM) slips -1.6% after its Q4 report.

Top European News

• US and EU are reportedly discussing a potential deal regarding critical raw materials and minerals, to enable the EU to benefit from the US’ Inflation Reduction Act/green investment plan, via Bloomberg citing sources.
• UK 2022 car production fell 9.8% Y/Y to 775k units, while car and light van production for 2023 is expected to increase 15% Y/Y to 984k units, according to SMMT.
• UK ONS says consumer behaviour indicators were broadly similar to the prior week.
• Irish Finance Minister McGrath says Brexit talks have reached a new level.
• Italian Economy Minister says before April they intend to extend relief measures to assist families and firms with energy costs, could alter regulations on capital gains tax.
• Denmark Calls for Mandatory Military Service for Women
• Europe Gas Prices Rebound After Slump With Asia Demand in Focus
• Diageo Drops as Sales Growth Slows in Crucial US Market
• Saipem Top Oil Services Pick at JPMorgan, Subsea 7 Cut

FX

• DXY slips to a minor new 101.500 y-t-d low, but holds in and pares some losses pre-US data raft.
• Aussie and Kiwi remain underpinned on inflation grounds, but AUD/USD heavy on 0.7100 handle and NZD/USD clipped around 0.6500.
• Yen recoils between 129.00-130.00 range vs Buck as Japan’s top currency diplomat warns that sharp moves will not be tolerated, CNH bid as HK markets return from holiday with COVID reopening optimism.
• Euro and Pound wobble above 1.0900 and 1.2400 vs Dollar and ahead of technical resistance.
• Morgan Stanley’s month-end USD rebalancing model: expects the USD to underperform in January, with weakness expected vs all G10 currencies ex-NOK.
• CBRT announced support for the conversion of firms’ foreign exchange obtained from abroad into Turkish liras to support ‘liraization’ in commercial activities, with firms to be provided with FX conversion support corresponding to 2% of the amount converted.

Fixed Income

• Core benchmarks have continued to ease from best levels with the IMF’s BoJ/Japan policy proposal adding to the pressure.
• Bunds holding just above 138.00 within 138.62-137.91 parameters while Gilts are just below 105.00 towards the mid-point of a 105.66-104.72 range.
• USTs are similarly contained around the 115.00 handle as participants await US data and a subsequent 7yr auction.

Commodities

• WTI and Brent March futures remain underpinned by the China-demand narrative, though are relatively rangebound overall and spent much of the morning trading with no firm direction with focus on geopols and French strike action.
• US and European gas futures are experiencing a modest divergence, with ING suggesting the US Nat Gas pressure is due to milder weather.
• TotalEnergies (TTE FP) says pension reforms strike action is interrupting shipments at French production sites, except for the Feyzin refinery (119k BPD). Continue to ensure petrol stations are supplied, no shortage.
• 24-hours strike declared at the 140k BPD Fos-Sur-Mer oil refinery in France, according to BFM TV citing an Esso Union official.
• German energy regulator says there is not enough gas saving in the third calendar week; household, business and industry consumption down 9%in total in that week (vs 20% target).
• Spot gold has been dipping from best levels amid seemingly yield-driven USD upside while LME copper is relatively resilient but has slipped from best levels.

Geopolitics

• Russian Kremlin says it sees the sending of Western tanks to Ukraine as direct and growing involvement in the conflict.
• Russian Security Council’s Secretary Patrushev says the US and NATO are participating in the Ukrainian conflict and want to prolong it.

US Event Calendar

• 08:30: 4Q GDP Annualized QoQ, est. 2.6%, prior 3.2%
  • 4Q GDP Price Index, est. 3.2%, prior 4.4%
  • 4Q PCE Core QoQ, est. 3.9%, prior 4.7%
  • 4Q Personal Consumption, est. 2.8%, prior 2.3%
• 08:30: Dec. Durable Goods Orders, est. 2.5%, prior -2.1%
  • Dec. -Less Transportation, est. -0.2%, prior 0.1%
  • Dec. Cap Goods Orders Nondef Ex Air, est. -0.2%, prior 0.1%
  • Dec. Cap Goods Ship Nondef Ex Air, est. -0.4%, prior -0.1%
• 08:30: Jan. Initial Jobless Claims, est. 205,000, prior 190,000
  • Continuing Claims, est. 1.66m, prior 1.65m
• 08:30: Dec. Advance Goods Trade Balance, est. -$88.1b, prior -$83.3b, revised -$82.9b
• 08:30: Dec. Retail Inventories MoM, est. 0.2%, prior 0.1%
  • Wholesale Inventories MoM, est. 0.5%, prior 1.0%
• 08:30: Dec. Chicago Fed Nat Activity Index
• 10:00: Dec. New Home Sales MoM, est. -4.4%, prior 5.8%
  • New Home Sales, est. 612,000, prior 640,000
• 11:00: Jan. Kansas City Fed Manf. Activity, est. -8, prior -9

DB’s Jim Reid concludes the overnight wrap

Morning from Milan. Yet another first time since the pandemic started trip. Always nice to be back. I’d almost forgotten how good the food is here! It was a fairly positive macro dinner with clients generally constructive. It was unique to be in Italy and see no-one really too concerned about Italy credit quality which is testimony to the various EU/ECB packages both pre and post the pandemic and also impressive given how far the ECB has come on rates and how far it still has to go.

With markets overall on the calm side too at the moment we’re getting our mini vol from entering earnings crossfire season where a big name’s quarterly report can pick you off. Indeed, sentiment yesterday was heavily influenced at first by Microsoft’s disappointing cloud sales outlook from after the bell on Tuesday night. The company’s shares were down around -4.5% soon after the open, before sentiment steadily improved as the day progressed. By the end of the day, it had clawed its way back up to have only lost -0.59%. More broadly, the Nasdaq and S&P 500 hit intraday lows of -2.34% and -1.69%, respectively, before closing at -0.18% and -0.02%. So a decent recovery.

After the close, we then heard from Tesla and IBM. Tesla reported adjusted earnings of $1.19 EPS ($1.12 EPS expected) as it sought to boost output quickly to achieve its previous guidance of 1.8mn vehicles delivered this year. In after-market trading it then advanced +5.5%, especially after Elon Musk said that he expected demand would remain strong despite an expected contraction and that there was a new “next-generation” vehicle that would be announced in March. IBM (-2.0% after-market) also beat earning expectations at $3.60 EPS (consensus was $3.58), and increased its sales forecast whilst announcing they would be cutting headcount by 1.5%. Against this backdrop, US equity futures are looking more positive this morning, with those on the S&P 500 (+0.12%) and the NASDAQ 100 (+0.35%) both higher.

With the S&P 500 finishing the day largely unchanged, 12 of 24 industry groups were in positive territory for the day. Telecoms (+2.50%), banks (+1.17%), insurance (+0.78%), and food & beverage (+0.73%) outperformed, whereas transports (-1.43%) and utilities (-1.36%) were the biggest laggards. Europe closed before the last of the rally in the US, with the STOXX 600 finishing down -0.29%. The STOXX Technology index was similarly down -1.66% at the lows before staging a late recovery itself that only left it down -0.13%.

Much like US equities, US bonds saw a decent range and by the close yields on 10yr Treasuries were down -1.1bps on the day to 3.44% (range 3.42-3.49%). By contrast in Europe, yields on 10yr bunds (+0.3bps), OATs (+1.1bps) and BTPs (+3.3bps) all moved higher to varying degrees. That followed fresh comments from ECB speakers, with Slovenia’s Vasle saying that rates should go up by 50bps at the next two meetings. Ireland’s Makhlouf also endorsed continuing with 50bps into March, saying that “We need to continue to increase rates at our meeting next week – by taking a similar step to our December decisions – and also at our March meeting.”

Ahead of the Fed and ECB decisions next week, we did get a decision yesterday from the Bank of Canada. They hiked by 25bps as expected, but said in their statement that they expect “to hold the policy rate at its current level while it assesses the impact of the cumulative interest rate increases.” Governor Macklem did make clear in his press conference statement that this was “a conditional pause”, and said they were willing to do more if needed to get inflation back to target. However, it’s still an important milestone after a series of 8 hikes at consecutive meetings, particularly given speculation about when the Fed might reach a similar point in their own hiking cycle.

Speaking of the Fed, they’re currently in their blackout period, but the Washington Post reported yesterday that Vice Chair Brainard was a top contender to become the next head of the National Economic Council at the White House. If that happened, that would open up a space on the board as well as the Vice Chair position, although as it stands Brainard’s position as both a Governor and Vice Chair currently last until H1 2026. Nevertheless, there is a precedent for such a move from the Fed to the White House, such as when former Chair Bernanke went from being a Fed Governor to Chair of the Council of Economic Advisers in 2005, before going back to the Fed as Chair the following year. Similarly, Janet Yellen made the same move from Fed Governor to CEA Chair in 1997.

Staying with the White House, the Biden administration announced that the US would be sending 31 M1 Abrams tanks to Ukraine, adding on to those confirmed by Germany. Delivery of the US tanks could take months but training would begin soon. The German tanks are expected to be sent to Ukraine within three months.

Overnight in Asia, equities have posted advances for the most part, with the Hang Seng up +1.89% as it resumed trading following a holiday. That leaves the index on track for its highest closing level since April last year, and brings its gains since the end of October to +53% now. In the meantime, the KOSPI was also up +1.44%, but the Nikkei is down -0.20% this morning amidst a further strengthening in the Japanese Yen, which stands at 129.36 per US Dollar this morning.

Looking at yesterday’s other data, the Ifo business climate indicator from Germany rose to a 7-month high of 90.2 in January (vs. 90.3 expected). And the expectations component rose to an 8-month high of 83.2 (vs. 82.0 expected).

To the day ahead now, and data releases from the US include the advance estimate of Q4 GDP, preliminary durable goods orders for December, new home sales for December and the weekly initial jobless claims. Otherwise, earnings releases include Visa, Mastercard, Intel, American Airlines and Comcast.

AND NOW NEWSQUAWK (EUROPE/REPORT)

Earnings dictate the state of play with numerous heavyweights due – Newsquawk Euro Market Open

THURSDAY, JAN 26, 2023 – 06:28 AM

• European bourses are firmer across the board, Euro Stoxx 50 +0.6%, with a busy morning for earnings dictating the state of play ahead of European heavyweight LVMH.
• Stateside, futures are firmer across the board, ES Mar’23 +0.2% and comfortably above the 4k mark while the NQ outperforms post-TSLA
• DXY has bounced from a minor new YTD low, with peers mixed and relatively rangebound.
• Core fixed benchmarks have continued to ease from best levels, with the IMF’s Japan policy proposal adding to the pressure.
• WTI and Brent March futures remain underpinned by the China-demand narrative, with focus on geopols and French strike action
• Looking ahead, highlights include US Durable Goods, GDP Advance/PCE Prices Advance (Q4), IJC, New Home Sales, Japanese CPI, SARB Policy Announcement, Earnings from LVMH, Comcast, Intel, Visa & Southwest, Supply from the US, Holiday in China (Lunar New Year)

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 firmer across the board, Euro Stoxx 50 +0.6%, with a busy morning for earnings dictating the state of play before Stoxx 600 heavyweight LVMH’s (MC FP) earnings, due after-market on Thursday.
• Stateside, futures are firmer across the board, ES Mar’23 +0.2% and comfortably above the 4k mark and as such the 10- and 200-DMAs which reside on either side of the figure.
• NDX +0.6% is the incremental outperformer after a well received update from Tesla (TSLA) +7% pre-market while IBM (IBM) slips -1.6% after its Q4 report.
• Click here and here for the European Equity notes including updates from Nokia, SAP, STMicroelectronics, Diageo and more.
• Click here for more detail.

FX

• DXY slips to a minor new 101.500 y-t-d low, but holds in and pares some losses pre-US data raft.
• Aussie and Kiwi remain underpinned on inflation grounds, but AUD/USD heavy on 0.7100 handle and NZD/USD clipped around 0.6500.
• Yen recoils between 129.00-130.00 range vs Buck as Japan’s top currency diplomat warns that sharp moves will not be tolerated, CNH bid as HK markets return from holiday with COVID reopening optimism.
• Euro and Pound wobble above 1.0900 and 1.2400 vs Dollar and ahead of technical resistance.
• Morgan Stanley’s month-end USD rebalancing model: expects the USD to underperform in January, with weakness expected vs all G10 currencies ex-NOK.
• CBRT announced support for the conversion of firms’ foreign exchange obtained from abroad into Turkish liras to support ‘liraization’ in commercial activities, with firms to be provided with FX conversion support corresponding to 2% of the amount converted.
• Click here for more detail.

FIXED INCOME

• Core benchmarks have continued to ease from best levels with the IMF’s BoJ/Japan policy proposal adding to the pressure.
• Bunds holding just above 138.00 within 138.62-137.91 parameters while Gilts are just below 105.00 towards the mid-point of a 105.66-104.72 range.
• USTs are similarly contained around the 115.00 handle as participants await US data and a subsequent 7yr auction.
• Click here for more detail.

COMMODITIES

• WTI and Brent March futures remain underpinned by the China-demand narrative, though are relatively rangebound overall and spent much of the morning trading with no firm direction with focus on geopols and French strike action.
• US and European gas futures are experiencing a modest divergence, with ING suggesting the US Nat Gas pressure is due to milder weather.
• TotalEnergies (TTE FP) says pension reforms strike action is interrupting shipments at French production sites, except for the Feyzin refinery (119k BPD). Continue to ensure petrol stations are supplied, no shortage.
• 24-hours strike declared at the 140k BPD Fos-Sur-Mer oil refinery in France, according to BFM TV citing an Esso Union official.
• German energy regulator says there is not enough gas saving in the third calendar week; household, business and industry consumption down 9%in total in that week (vs 20% target).
• Spot gold has been dipping from best levels amid seemingly yield-driven USD upside while LME copper is relatively resilient but has slipped from best levels.
• Click here for more detail.

NOTABLE HEADLINES

• US and EU are reportedly discussing a potential deal regarding critical raw materials and minerals, to enable the EU to benefit from the US’ Inflation Reduction Act/green investment plan, via Bloomberg citing sources.
• UK 2022 car production fell 9.8% Y/Y to 775k units, while car and light van production for 2023 is expected to increase 15% Y/Y to 984k units, according to SMMT.
• UK ONS says consumer behaviour indicators were broadly similar to the prior week.
• Irish Finance Minister McGrath says Brexit talks have reached a new level.
• Italian Economy Minister says before April they intend to extend relief measures to assist families and firms with energy costs, could alter regulations on capital gains tax.

NOTABLE US HEADLINES

• US and Dutch officials will meet on Friday to discuss export controls on chip manufacturing tools, according to sources cited by Reuters.
• Tesla Inc (TSLA) – Tesla profits and revenues topped expectations, although auto gross margins fell to a five quarter low. Q4 adj. EPS 1.19 (exp. 1.13), Q4 revenue USD 24.32bln (exp. 24.03bln), Q4 FCF -49% at USD 1.42bln (exp. 3.13bln), Q4 adj. EBITDA USD 5.4bln (exp. 5.39bln), Q4 operating Margin 16%, Q4 automotive gross margin 25.9% (exp. 28.5%). +7% in the pre-market, see the US Early Morning note for full details
• International Business Machines Corp (IBM) – Q4 operating EPS 3.60 (exp. 3.60), Q4 revenue USD 16.7bln (exp. 16.4bln). Q4 software revenue +8% at USD 7.288bln. FY22 cash flow USD 9.3bln (missing USD 10bln target), owing to higher-than-expected working capital needs. Announced workforce reduction of 3.9k jobs. -1.5% in the pre-market, see the US Early Morning Note for full details
• Click here for the US Early Morning note.

GEOPOLITICS

• Russian Kremlin says it sees the sending of Western tanks to Ukraine as direct and growing involvement in the conflict.
• Russian Security Council’s Secretary Patrushev says the US and NATO are participating in the Ukrainian conflict and want to prolong it.

CRYPTO

• Bitcoin is under pressure and is incrementally below the USD 23k handle and as such at the lower-end of USD 22.83-23.82k parameters.

APAC TRADE

• APAC stocks traded somewhat mixed amid key holiday closures and after the flat handover from Wall St where the major indices recouped most of their initial losses after the BoC’s dovish hike.
• Nikkei 225 was subdued amid a firmer currency and upside in yields, while the government also lowered its overall economic assessment for the first time in 11 months.
• KOSPI gained despite the weaker-than-expected GDP data although the finance minister flagged the likelihood of a return to growth for the current quarter.
• Hang Seng outperformed as participants in Hong Kong returned from the Lunar New Year holiday and were greeted by strength in tech, property and autos, although trade across the rest of the region remained relatively quiet owing to the closures in Australia, China, Taiwan, India and Vietnam.

NOTABLE ASIA-PAC HEADLINES

• BoJ Summary of Opinions from the January meeting stated it is appropriate to maintain current monetary easing including YCC and that the BoJ must keep yields from rising across the curve while being mindful of the bond market function. Furthermore, they must spend more time to gauge the impact of the December decision and must conduct a review of policy at some point although it is appropriate to maintain easy policy for now, while they still see some distance in achieving the price goal and noted it will take some time to achieve sustained wage growth.
• IMF (policy proposal on Japan) says the BoJ should allow bond yields to move in a more flexible manner; If significant upside inflation risks materialise, BoJ needs to be ready to withdraw stimulus strong, e.g. by increasing interest rates; possible options for the BoJ include widening the yield bank, increasing the yield target, targeting shorter yields and shifting to a quantity target; BoJ policy is appropriate as inflation is likely to ease but risks are becoming more pronounced; FX intervention should be limited to special circumstances such as disorderly market conditions.
• Japan is to downgraded its COVID classification on May 8th, via NHK.
• CATL (300750 CH) Europe president says six battery cell production lines are to be installed by the end of the year.

DATA RECAP

• Japanese PPI Services YY (Dec) 1.5% vs Exp. 1.6% (Prev. 1.7%)
• South Korean GDP Growth QQ Advance (Q4) -0.4% vs. Exp. -0.3% (Prev. 0.3%); YY Advance (Q4) 1.4% vs. Exp. 1.5% (Prev. 3.1%)

1.c THURSDAY/  WEDNESDAY  NIGHT

SHANGHAI CLOSED    //Hang Seng CLOSED      /The Nikkei closed UP 32.26 PTS OR 0.12%            //Australia’s all ordinaries CLOSED DOWN 0.29%   /Chinese yuan (ONSHORE) closed //OFFSHORE CHINESE YUAN UP TO 6.7408//    /Oil UP TO 81.23 dollars per barrel for WTI and BRENT AT 87.34   / Stocks in Europe OPENED ALL GREEN  ONSHORE YUAN TRADING XXXX LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING UP AGAINST US DOLLAR/OFFSHORE STRONGER

2 a./NORTH KOREA/ SOUTH KOREA/

///NORTH KOREA/SOUTH KOREA

2B JAPAN

3c CHINA /

CHINA/ECONOMY

end

4/EUROPEAN AFFAIRS/UK AFFAIRS//

GERMANY/

Germany is still years away from replacing Russian natural gas and thus must pay crazy prices

(zerohedge)

Germany Still Years Away From Replacing Russian NatGas, Official Admits To “Unspoken Strategy To Pay Crazy Prices”

THURSDAY, JAN 26, 2023 – 04:15 AM

Some European politicians and economists are breathing a sigh of relief after mild temperatures, increasing liquefied natural gas shipments, and above-average natural gas stockpiles have so far averted a worsening energy crisis this winter. Other politicians believe the energy crunch won’t be over for many years. 

“Gas storage is up and gas prices are down. Inflation is falling and uncertainty is declining,” Deutsche Bank AG wrote in a note this week, adding, “We can afford to be more optimistic.” 

As of late, Europe’s biggest economy, Germany, has seen an improvement in business outlook as recession fears recede, according to data from the Ifo Institute, a Munich-based economic researcher. 

Ifo President Clemens Fuest told Bloomberg TV:

“The most important risk for the German economy was a gas-rationing scenario … and that risk is off the table now.”

There’s a lot to be happy about in Europe: Dutch front-month NatGas, the continent’s benchmark, slid as much as 5% to 55 euros a megawatt-hour today, the lowest level since late 2021. Prices have collapsed by more than 83% since peaking at 311 euros a megawatt-hour last August. 

However, the optimism could be short-lived because Germany is years from entirely substituting Russian NatGas flows with LNG shipments. 

Last week, Chancellor Olaf Scholz told Bloomberg that German learned a hard lesson in its addiction for cheap Russian NatGas. He said the country is now rejiggering supply chains that will increase capacity for LNG imports at major ports. 

A new report via the country’s Economy Ministry shows Germany will install 56 billion cubic meters of domestic LNG import capacity by 2026. By 2030, capacities will increase to 76.5 billion cubic meters or about 80% of total German NatGas consumption in 2021. 

The ministry pointed out that even though current NatGas storage facilities are above normal levels, there are mounting risks later this year that storage could sink to dangerously low levels and result in shortages. 

“The truth is, there won’t be enough in the next three to four years of LNG production capacity in the world to meet the growing demand. So the unspoken strategy is that Germany will continue to pay crazy prices and other, less rich countries go empty-handed,” Christian Leye, a Bundestag Left Party representative, told Bloomberg.

Germany has reduced its dependence on Russian NatGas by importing LNG from other EU countries and increasing NatGas pipeline flows from Norway and the Netherlands. Germany didn’t have a choice after explosions rocked Nord Stream last year. An issue we see is that Germany’s NatGas storage was filled last summer when Russian NatGas was still flowing — not so much anymore. 

Deutsche Bank expects EU NatGas prices to fluctuate between 50 and 100 euros a megawatt-hour this year. It’s only a matter of time before the temporary relief evaporates and the energy crisis resurfaces. 

end

DENMARK

Denmark following Israel in planning mandatory military service for women.  NATO deepens Ukraine support.

This is getting ugly

(zerohedge)

Denmark Plans Mandatory Military Service For Women As NATO Deepens Ukraine Support

THURSDAY, JAN 26, 2023 – 11:15 AM

At a moment the NATO alliance is broadly pushing for its members to bolster defense readiness and spending, Denmark is planning to introduce compulsory military conscription for women in order to greatly boost the size of national armed forces.

Jakob Ellemann-Jensen, Denmark’s defense minister and deputy prime minister, announced his intent to introduce women’s conscription in an interview with broadcaster TV2, with Bloomberg subsequently reporting on the comments.

He stressed that at current levels, the Danish defense forces cannot really defend Denmark, and so the nation needs to tap more manpower.

“If we are to be able to strengthen our defense, we must have a basis from which to strengthen it. In public and private companies, you can grab employees from other places, but you can’t do that in the defense,” Ellemann-Jensen said. “In the future, women must be called up for military service in the same way as men.”

And responding to a question over whether conscription should apply equally to both sexes, he stressed that “the armed forces benefit from more women coming.”

As Bloomberg points out, the discussion and planning for the significant change comes as Denmark and others have been deepening their unprecedented support to Ukraine. In December, the small northern European country donated 300 million Danish crowns, the equivalent of $42.8 million, in military aid to Ukraine, and last week gifted 19 French-made Caesar howitzer artillery systems.

“Currently, women can join on a voluntary basis while men generally are required to serve if they are called on under a lottery system, for a duration of four months for most,” Bloomberg details of existing Danish military policies on women. Already the number of women recruits is on the rise.

“The new measure has the backing of several women’s organizations and comes as Denmark, like the rest of Europe, provides increasing levels of support to Ukraine in the war to oust Russia from the country,” the report adds.

Neighboring Norway already has conscription for women, having become the first NATO member to implement it, and as of 2021 20% of its armed forces were composed of women.

5.UKRAINE RUSSIA//MIDDLE EASTERN AFFAIRS

RUSSIA/USA/UKRAINE

Russia responds to the Abrams and Leopad tanks to be sent by Germany and the USA

(zerohedge)

New Missile Barrage Pummels Ukraine As Russia Vows US-Made Tanks “Will Burn”

THURSDAY, JAN 26, 2023 – 01:15 PM

Another large wave of Russian airstrikes pummeled Ukrainian energy infrastructure on Thursday, in what’s widely being seen as the most immediate response to the day prior announcement from the US and Germany that Abrams and Leopard main battle tanks will be supplied to Ukrainian forces. Ukraine’s emergency services have said at least 11 people were killed, and 11 more wounded.

Thursday’s fresh areal assault included at least two dozen drones, allegedly Iranian-made, launched on southern Ukraine. Ukraine’s military said its anti-air defenses intercepted the drones. In the wake of the attack, Energy Minister Herman Halushchenko charged that Russia is seeking to “create a systemic failure in Ukraine’s energy system.”

“Emergency shutdowns have been introduced. The most difficult situation is currently in the regions of Kyiv, Odesa and Vinnytsia,” Galushchenko added. The energy ministry indicated that in the south, in the area of Odesa, “such a situation may last for several days until the damaged power facilities are restored.”

Moscow said that it will consider the Western tank deliveries as confirming the Western allies’ “direct involvement in the conflict.”

Additionally, Kremlin spokesman Dmitry Peskov said Wednesday in response to President Biden’s pledge to send 31 M1 Abrams to Ukraine that the US-made tanks will “burn”.

Putin weighed in on Germany taking a lead role in convincing Washington to provide tanks…

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“I am certain that many experts understand the absurdity of this idea. The plan is disastrous in terms of technology,” Peskov said.

“But above all, it overestimates the potential it will add to the Ukrainian army. These tanks burn just like all the others.”

All of this comes as the fighting in Donetsk and the south has intensified, with Ukrainian Deputy Defense Minister Ganna Malyar acknowledging the ratcheting pressure on Ukrainian front line positions. This week Kiev belatedly acknowledged a complete withdrawal of forces from Soledar.

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Now the focus is on the fight for nearby Bakhmut. “The enemy is throwing a significant number of personnel, weapons and military equipment into the battle, trying to break through our defenses,” Malyar said.

The Institute for the Study of War has explained that Russia is currently implementing “spoiling attacks across most of the frontline in Ukraine in order to disperse and distract Ukrainian forces.”

* * *

Alongside the impending tank deliveries, the other big Ukraine development this week concerns dwindling artillery ammo supplies, which interestingly enough directly impacts ‘Pentagon readiness’ in the South China Sea region, according to US defense planners. Rabobank writes the following…

The New York Times tweets: “To keep Ukraine’s howitzers firing, the Pentagon will increase its production of 155-mm shells six-fold, to 90,000 rounds per month – raising ammunition production in the US to the highest levels since the Korean War.” Moreover, the Washington Post has an editorial about the $858bn Pentagon budget, and how it adopts wartime purchasing practices. In particular, a provision allows the US military to sign “emergency” multiyear, non-competitive agreements to produce munitions, missiles, rockets, and mortars, aimed at cost-saving via bulk buying, two things the Pentagon has failed badly at for years.

The Post also notes the budget proposal does far more than that: “It lays the foundation for a vastly revitalised defence industrial base – and does so with one eye on the People’s Republic of China.” 25 new mass-assembly lines will soon roll out weapons quantities “far in excess of what is required to replenish Ukraine.” 700 HIMARS systems are ordered vs. the 20 sent to aid Kyiv, and 3,600 of two kinds of anti-ship missile, more appropriate for the South China than the Black Sea.

end

RUSSIA/USA/UKRAINE

USA to increase artillery ammunition production by 500% to give to Ukraine. Extremely foolish

(DeCamp/Antiwar.com)

US To Increase Artillery Ammunition Production By 500% For Ukraine

THURSDAY, JAN 26, 2023 – 06:30 AM

Authored by Dave DeCamp via AntiWar.com,

The Pentagon is planning to boost its production of artillery ammunition by 500% over the next two years as the US is depleting its military stockpiles by sending millions of shells to Ukraine, The New York Times reported Tuesday.

Since Russia launched its invasion of Ukraine, the US has pledged to send Ukraine over one million 155mm artillery shells. Before the US Army began efforts to increase production, it produced 14,400 155mm shells a month, but under the new plans, the number could reach over 90,000 each month.

According to the Times, an Army report said the plan will involve expanding factories and bringing in new producers in an effort described as “the most aggressive modernization effort in nearly 40 years” of the US military-industrial complex.

The unguided 155mm shells that are fired out of Howitzers include parts produced by several arms manufacturers, including steel bodies made by General Dynamics and explosives mixed by BAE Systems. American Ordnance pours the explosives into the bodies, and several other contractors produce the fuzes that are screwed into the shells.

The US plans to dramatically ramp up ammunition production over the next two years show that the US is expecting to support Ukraine against Russia for years to come, and there is no sign that the fighting will end anytime soon.

What’s not clear is if the policy is sustainable, as US military officials have warned it may be hard to continue arming both the US and Ukraine as the war drags on. Ukrainian forces are estimated to be using about 90,000 rounds of artillery each month, which is more than double what the US and Europe can currently produce.

The US has had to dip into a little-known stockpile of weapons that it keeps in Israel to keep up with Ukraine’s artillery demand. The Pentagon also requested that US forces stationed in South Korea send equipment to Ukraine.

END

Hal Turner Radio Show – ***** BULLETIN ****** Russian Navy Ship Conducts SIMULATED Hypersonic Missile Launch off U.S. East Coast – Electronic Warfare JAMMED U.S. Radar, Phones, Internet for 34 seconds

Robert Hryniak	10:21 AM (4 minutes ago)
to

Yesterday, I wrote about the use of depleted Uranium shells in the Ukraine was a red line that would not be tolerated. And one should be certain that Russia will confirm both the sending and use before action will be taken. Because such use is in effect a dirty bomb on a smaller scale. And the world has ample evidence of the disastrous impact on civilians and land as a result in place like Iraq. Russia will not tolerate this in the Ukraine to be used on its’ soldiers or Ukrainian civilians. Accept this as fact and not opinion. 

This is perhaps the last visible warning, that one should pay attention to. It is not just a drill but a confirmable public fact that jamming of American systems can be done. To give you perspective it would take 40 seconds to wipe all communication with a EMP across 80% of America. So what happens then? With no power one will see anarchy with days. And contrary to DC balderdash, one cannot stop a Zircon coming in at Mach9+. 

To give you a sense of reality of what exists today, there are both Chinese and Russian assets off both coastlines of America with over 160 Nuclear missiles ready to launch upon command. To think they will be passive if pushed is a serious error. What defense is there after a EMP as missiles rain in to remove all manner of offensive ability and social order? 

And for the nonsense of weapon systems coming in months, it is simply a PR job because this western equipment in part is already on Ukrainian soil. And yes, it is manned with NATO forces. And it would naive to think that Russia is unaware that 40,000 Ukrainians have been massed for an attack in Zaparozhye. Once they engage or are engaged and reality of weapon systems is confirmed we should not be surprised at what comes, with no warning.

The delusional nature of lunatics is marching the US to a fight it will lose. In Russia, America picked the wrong dog to fight. And clearly, the fan crowd of modern war might care to ponder what happens when Big Daddy falls. Because in an escalated confrontation Russia will strike America. That is something we can be certain of. So as has been said for months now; America will come to a Cuban like Missile Crisis and  it has just happened. 

https://halturnerradioshow.com/index.php/en/news-page/world/bulletin-russian-navy-ship-conducts-simulated-hypersonic-missile-launch-off-u-s-east-coast-electronic-warfare-jammed-u-s-radar-phones-internet-for-34-seconds

6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES

Vaccine//Covid issues: Injuries

CDC officials after spreading misinformation on COVID 19 children deaths, apologized to the source of that false data but not to th public

(Stieber/EpochTimes)

CDC Officials Who Spread Misinformation Apologized To Source Of False Data But Not To Public: Emails

WEDNESDAY, JAN 25, 2023 – 09:00 PM

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

U.S. health officials who spread inflated COVID-19 child death data in public meetings apologized to the source of the false data but not to the public, newly obtained emails show.

Drs. Katherine Fleming-Dutra and Sara Oliver, with the U.S. Centers for Disease Control and Prevention (CDC), offered the false data in 2022 while U.S. officials weighed granting emergency authorization to COVID-19 vaccines for children as young as 6 months.

The study they cited for the data was published ahead of peer review by a group comprised primarily of British authors. The study was corrected after the public meetings.

Emails obtained by The Epoch Times showed that Fleming-Dutra and Oliver were alerted that they had spread misinformation. Neither the officials nor the CDC have informed the public of the false information. Newly obtained emails showed the officials apologized to Seth Flaxman, one of the study’s authors, and even offered to see whether the study could be published in the CDC’s quasi-journal.

“I feel … that we owe you an apology,” Oliver wrote to Flaxman on June 27, about 10 days after she and Fleming-Dutra falsely said there had been at least 1,433 deaths primarily attributed to COVID-19 in America among those 19 and younger. “We draw the attention of a variety of individuals with the ACIP meetings, and apologize that you got caught in it this time.”

“I am also sorry that you got pulled into the attention around the VRBPAC and ACIP meetings,” Fleming-Dutra added. She had presented the data to the Vaccines and Related Biological Products Advisory Committee, which advises the U.S. Food and Drug Administration, and the Advisory Committee on Immunization Practices, which advises the CDC.

Fleming-Dutra, Oliver, and Flaxman did not respond to requests for comment.

Inflated Death Toll

Using data from the CDC, Flaxman and his co-authors claimed that there were at least 1,433 deaths primarily attributed to COVID-19 among those aged 0 to 19 in the United States. The actual number was 1,088, the authors acknowledged in the corrected version of the study.

Fleming-Dutra presented the false data as rankings to VRBPAC on June 14, 2022 and ACIP three days later. It’s not clear why the CDC didn’t examine its own database rather than relying on a preprint study.

Oliver also cited the study while speaking during the ACIP meeting.

The data had an impact. It showed “that this is not a minor illness in children,” Dr. Katherine Poehling, one of the ACIP members, said at the time.

Dr. Rochelle Walensky, the CDC’s director, later appeared to cite the inflated death toll and ACIP still cites the preprint, though it was later updated with the correct data.

Flaxman updated the study after receiving an email from Kelley Krohnert, a Georgia resident who has become a fact-checker of suspect COVID-19-related claims.

Krohnert’s concerns also made their way to Fleming-Dutra and Oliver, but the CDC officials have never publicly acknowledged promoting misinformation.

‘We Had an Error’

Flaxman acknowledged in emails to Krohnert, and in a June 27 message to Fleming-Dutra and Oliver, that he did not fully understand how the CDC’s death database works.

“Thanks for your work, and your great presentations to VRBPAC and ACIP. You cited our preprint. We’ve just updated it (see attached; it should appear on medrxiv in the next day). While none of the substantive conclusions change, we had an error which you may have seen was picked up very prominently by a blogger,” Flaxman wrote. “I am writing first to say sorry–I really regret that this happened. It was my mistake in misunderstanding the [death certificate] data, and not realizing about CDC Wonder’s provisional database.”

Flaxman also asked for feedback on the updated study and whether the officials could help with submitting the paper to the Morbidity and Mortality Weekly Report (MMWR), a quasi-journal the CDC publishes that only includes articles (pdf) vetted and shaped by top CDC officials to align with the agency’s policies.

“We’ve never tried to publish there, so I don’t know the process or how often they consider manuscripts from non-CDC authors,” Flaxman said. “If you do think this would be a possible route, perhaps one or both of you would want to help us revise the manuscript and join as an author?”

Oliver wrote back first, saying that she wanted to apologize to Flaxman and that “we will absolutely review and provide feedback,” as well as context.

“We are more than happy to do that without formally being co-authors. That way you can avoid formal CDC clearance,” Oliver wrote.

Fleming-Dutra then chimed in with her apology, adding, “I am glad to hear that you and your team are continuing to do this important work.” She recommended Flaxman and his team review studies published in the MMWR to get a sense of the format of the digest. A large portion of her email was redacted under an exemption to the Freedom of Information Act for “inter-agency or intra-agency records.” The Epoch Times has appealed that and other redactions.

Flaxman then notified the CDC officials that the corrected study had been made public. Fleming-Dutra replied, but the email was redacted.

“Thanks, very useful feedback. Small update: we’re hoping to submit to JAMA Pediatrics in the next week or so, and [redacted],” Flaxman answered. He indicated that the CDC had provided feedback and questioned on how to cite it in the submission.

Read more here…

end

This is going to hurt Pfizer terribly!!

DIRECTED EVOLUTION:?????

https://www.zerohedge.com/political/directed-evolution-pfizer-rd-exec-says-covid-19-created-wuhan-cash-cow-company

“Directed Evolution”? Pfizer R&D Exec Says Covid-19 Created In Wuhan, Is ‘Cash Cow’ For Company

THURSDAY, JAN 26, 2023 – 12:55 PM

A high-level Pfizer employee was caught on undercover camera by Project Veritas when he inadvertently dropped several bombshells which we’re confident will be subject to extreme damage control over the coming weeks.

Jordon Trishton Walker, Pfizer’s Director of R&D, Strategic Operations – and an mRNA Scientific Planner, said that the company is exploring a way to “mutate” COVID via “Directed Evolution”in order to anticipate new strains for their Covid-19 vaccine.

“One of the things we [Pfizer] are exploring is like, why don’t we just mutate it [COVID] ourselves so we could create —preemptively develop new vaccines, right? So, we have to do that. If we’re gonna do that though, there’s a risk of like, as you could imagine — no one wants to be having a pharma company mutating f**king viruses,” said Walker, adding that he believes Pfizer scientists are going about it slowly “because you obviously don’t want to advertise that you are figuring out future mutations.”

(Entire interview below)

Walker claims that “directed evolution” is different from Gain-of-Function research.

“Don’t tell anyone. Promise you won’t tell anyone. The way it [the experiment] would work is that we put the virus in monkeys, and we successively cause them to keep infecting each other, and we collect serial samples from them,” he said, before saying calling the Covid-19 natural origins theory bullshit:

“You have to be very controlled to make sure that this virus [COVID] that you mutate doesn’t create something that just goes everywhere. Which, I suspect, is the way that the virus started in Wuhan, to be honest. It makes no sense that this virus popped out of nowhere. It’s bullsh*t.” 

“You’re not supposed to do Gain-of-Function research with viruses. Regularly not. We can do these selected structure mutations to make them more potent. There is research ongoing about that. I don’t know how that is going to work. There better not be any more outbreaks because Jesus Christ,” he continued.

Walker also admitted that Covid-19 mutations were going to be “a cash cow” for Pfizer.

Walker:Part of what they [Pfizer scientists] want to do is, to some extent, to try to figure out, you know, how there are all these new strains and variants that just pop up. So, it’s like trying to catch them before they pop up and we can develop a vaccine prophylactically, like, for new variants. So, that’s why they like, do it controlled in a lab, where they say this is a new epitope, and so if it comes out later on in the public, we already have a vaccine working.

Veritas Journalist:Oh my God. That’s perfect. Isn’t that the best business model though? Just control nature before nature even happens itself? Right?

Walker:Yeah. If it works. 

Veritas Journalist:What do you mean if it works?

Walker:Because some of the times there are mutations that pop up that we are not prepared for. Like with Delta and Omicron. And things like that. Who knows? Either way, it’s going to be a cash cow. COVID is going to be a cash cow for us for a while going forward. Like obviously.

Veritas Journalist:Well, I think the whole research of the viruses and mutating it, like, would be the ultimate cash cow.

Walker:Yeah, it’d be perfect.

He also explained that Big Pharma and government agencies such as the FDA are not working in the best interests of Americans.

Walker:[Big Pharma] is a revolving door for all government officials. 

Veritas Journalist:Wow.

Walker:In any industry though. So, in the pharma industry, all the people who review our drugs — eventually most of them will come work for pharma companies. And in the military, defense government officials eventually work for defense companies afterwards.

…

Veritas Journalist:How do you feel about that revolving door?

Walker:It’s pretty good for the industry to be honest. It’s bad for everybody else in America.

Veritas Journalist:Why is it bad for everybody else?

Walker:Because when the regulators reviewing our drugs know that once they stop regulating, they are going to work for the company, they are not going to be as hard towards the company that’s going to give them a job.

Watch the entire video below: https://www.zerohedge.com/political/directed-evolution-pfizer-rd-exec-says-covid-19-created-wuhan-cash-cow-company

GLOBAL ISSUES;/

Is this where it is heading?

Satire Or Serious: “Why Didn’t The Unvaccinated Do More To Warn Us?”

THURSDAY, JAN 26, 2023 – 04:29 PM

Given the gargantuan level of gaslighting going on globally, it is difficult for us to judge whether the following is the most serious reframing of the entire COVID crisis yet or the most satisfyingly satirical take on the farcical narrative-managers op-eds we’ve ever read.

You decide…

Via iqfy.com,

They knew: why didn’t the unvaccinated do more to warn us?

The unvaccinated knew what we didn’t. Some of them said too little. Most said nothing at all. A lot of blood is now on their hands.

As the world struggles to come to terms with the devastating effects of the COVID-19 pandemic, one question that continues to surface is why the unvaccinated didn’t do more to warn us about the potential dangers of being injected.

While well intending citizens lined up, did the right thing, and received their COVID19 vaccinations — now seeming to do more harm than good — their unvaccinated friends stood by and let them do it. Some of them said too little. Some said nothing at all.

Even though they knew what we didn’t.

Our blood is now on their hands.

Those are strong words. But the unvaccinated had access to important information about the potential side effects of vaccines. They knew about the risks of severe allergic reactions, blood clots, and other serious health complications. They knew that vaccines did not immunize us. They knew it wasn’t effective, and that they can cause more harm than good.

They knew all of that, but instead of warning us, the unvaccinated chose to remain silent. They chose to look the other way and not speak out about the potential dangers of vaccines. They let millions of good folks who did the right thing (at the time) fall to death and disease, and many antivaxxers even gloated online about how their coin flip had been the right bet. The more diabolical even urged folks they disagree with to “get boosted.”

It has become all too clear. The silence of the unvaccinated was a dangerous, sociopathic, and irresponsible decision that has had serious consequences for those of us who received the vaccinations.

And silence is, after all, consent.

It is time for the unvaccinated to take responsibility for their actions and to work with the rest of us to find a solution to this crisis. We cannot afford to let their selfishness and lack of action continue to harm our communities. It is time for the unvaccinated to step up and do the right thing.

The unvaccinated should by any moral measuring stick have done more to warn about the potential risks — to help us make informed decisions about our health. And they must now ask us for our forgiveness.

And, hand to heart, we may just give it to them.

Because we are good people. We took those injections because it was the right thing to do — until it wasn’t.

end

PAUL ALEXANDER

BOOM! Pfizer admits to Gain-of-Function (GoF) research, that they give jobs to FDA regulators who review their drugs & vaccineS & they will deliberately MUTATE COVID virus & make it a $ BANK machine

So Pfizer will mutate COVID (called ‘directed evolution) to have vaccine ‘readymade’ as a money making machine, duh, we knew that already (this is GoF); this can cause lethal variant to emerge

DR. PAUL ALEXANDERJAN 26

SAVE▷  LISTEN

The key message is that we knew every single thing he said here already, just that if he is with Pfizer (likely he should go buy some kevlar as a means to protect himself from his company), he has explained to us (if he is who he said he was) from Pfizer’s point of view the type of business they are in. Which is money making and killing people with their so called ‘vaccines’. Pfizer is a criminal organization, criminal and Bourla and Bancel of Moderna should be imprisoned for what they did to Trump and the world with this fraud gene injection.

SOURCE:

CLICK HERE

END

50,000 foot level view, IMO, of time line, I think this pathogen, whatever it was (COVID etc.) was circulating before 2020 and IMO in 2019 and even earlier, undetected; certain people knew who

developed it and released it (accident or not); point is, there was never ever a need for lockdowns, ever and Diamond Princess was our petri dish and told us all we needed to know

DR. PAUL ALEXANDERJAN 26

SAVE▷  LISTEN

I do think it was circulating all of 2019, low level, innocuous, so no one focused on it, there certainly was no ‘case definition’ by CDC etc. for anyone to look for it in hospitals and clinics, but IMO, it was there globally and we were largely immune already, and what happened Feb 2020 onwards was with the fraud PCR ‘process’ of amplifying DNA but not as a diagnostic tool, it was ‘detected’ officially…in other words, this view opens up huge implications. They detected something they knew was already circulating but only they knew it. They then ‘detected’ it. Was it to hurt Trump, the US economy? Was it an attack on China by the US government, US military? All is on the table. IMO, it was almost a pandemic seeking a vaccine and of course, a POTUS to allow the vaccine. weird, perverse, devastating but IMO. Like how Tamiflu was a failed drug seeking a flu and it got one and Remdesivir was a failed Ebola drug seeking a disease, it got COVID.

It is how we handled people in hospitals that largely killed them and I can account for spikes in deaths with this thinking and also the vaccine, it killed people, plain and simple. Remember, you were dealing with elderly folk, vulnerable, weak, and you suddenly started kicking them out of hospitals to nursing homes to free up beds and this was terribly upsetting and painful and killed many…traumatized them, isolated them, and then when we took them from nursing homes to hospitals, we used the COVID protocol of isolation, sedation (midazolam and diamorphine and other toxic drugs), Remdesivir and intubation and ventilation that killed them, with malnourishment and dehydration…many died due to these two, dehydration and malnourishment alone./

END

Seminal reporting by Dr. Peter McCullough & John Leake that EcoHealth Alliance (Daszak et al.), despite having caused pandemic with Gain-of-Function chimeric bat research, got NEW $3 million DoD grant

EcoHealth Alliance (Daszak et al.) currently has 12 active US-government grants and contracts, totaling more than $34 million for more deadly pandemic level Gain-of-Function research

DR. PAUL ALEXANDERJAN 25

SAVE▷  LISTEN

Richard H. Ebright is tweeting key critical information for us to be aware of for DoD and NIH and Fauci certainly will not share this.

Courageous Discourse™ with Dr. Peter McCullough & John Leake

EcoHealth Alliance Gets Fresh $3 Million DOD Grant

By JOHN LEAKE Just last month, Dr. Andrew Huff—former senior scientist and vice president at EcoHealth Alliance—published The Truth About Wuhan, in which he details how SARS-CoV-2 was engineered in a lab, and how its leak from the lab was covered up by EcoHealth Alliance president and CEO Dr. Peter Daszak in collaboration with NIAID Director, Anthony Fau…

Read more

Depopulation, the COVID gene injection (mRNA Pfizer and Moderna) is depopulation, it is meant to depopulate, it is a bioweapon, a ‘slow kill’ biological weapon preying on us now; all involved jailed!

If I wanted to build a bioweapon and slow kill a population, I would bring these very same COVID gene injections and roll them out the very same way, into the teeth of an ongoing pandemic

DR. PAUL ALEXANDERJAN 26

SAVE▷  LISTEN

Take their money and jail them all, from Fauci and Francis Collins, to Ashish Jha, to Bourla and Bancel, all of them, deep prison time and if a judge declares the death penalty after proper legal trials for the lives lost due to the lockdowns and fraud gene injection, then we must impose it. We spare none, even Prime Ministers.

Only after proper legal inquiries but God help me, if a judge rules the death penalty is on the table for the lives lost due to the lockdown and gene injection lunacy, then put it on the table. For what these beasts did. Put the death penalty on the table.

END

The Wolf: recall I have been warning about the wolf, telling you arm up, get trained, arm your daughters, the wolf is no longer scared of COVID so is coming out, be warned! Biden is bring many into US

This is a terrorist attack, I will call it before pusillanimous putrid media, hiding the wolf, I warn, school your daughter on the wolf, he loves blond blue eyed girls, looks 12 yrs, is actually 30

DR. PAUL ALEXANDERJAN 26

SAVE▷  LISTEN

https://www.thesun.co.uk/news/21164926/one-person-dead-four-injured-church-samurai-sword-spain/

Biden is continuing Obama’s reign, flooding America with more wolves. Be warned.

END

VACCINE IMPACT

New U.S. Government Research is Finally Admitting that Glyphosate Weed Killer Causes Cancer

January 25, 2023 6:59 pm

New research by top US government scientists has found that people exposed to the widely used weed killing chemical glyphosate have biomarkers in their urine linked to the development of cancer and other diseases. The study, published last week in the Journal of the National Cancer Institute, measured glyphosate levels in the urine of farmers and other study participants and determined that the presence of high levels of the pesticide were associated with signs of a reaction in the body called oxidative stress, a condition that causes damage to DNA. Oxidative stress is considered by health experts as a key characteristic of carcinogens. The authors of the paper – 10 scientists with the National Institutes of Health and two from the Centers for Disease Control and Prevention (CDC) – concluded that their study “contributes to the weight of evidence supporting an association between glyphosate exposure and oxidative stress in humans.” They also noted that “accumulating evidence supports the role of oxidative stress in the pathogenesis of hematologic cancers,” such as lymphoma, myeloma and leukemia.

Read More…

---

Germany to Burn 800 Million Expired COVID Face Masks

January 25, 2023 7:57 pm

One of the things we published back in July of 2020 was how many instant millionaires were being made selling cheap, Chinese-made face masks to the U.S. Government because of the COVID fear and mask mandates. Apparently the same thing happened in Germany, and now they reportedly have 800 million face masks that are beyond their expiration date that need to be disposed of.

Read More…

VACCINE INJURY/

Former Detroit Lions football player 25 year old Jessie Lemonier suddenly dies. We do not know what is vaccine status is but no doubt we was double vaccinated!

Another athlete (this case an NFL player 25 year old Jessie Lemonier) suddenly dies & no vaccine status & we cannot ask about it? To hell with media & NFL secrecy, I am asking about COVID death shot

“Jessie was a model teammate & wonderful young man who is gone far too soon; “Our thoughts & prayers are with his family & friends during this difficult time.” Was this vaccine induced (myocarditis)?

DR. PAUL ALEXANDERJAN 26

SAVE▷  LISTEN

How did he die? Until we can rule out vaccine and myocarditis, we must have it on the table.

His family must have privacy but as a society, we need to know and I think this instance is as important or even more (especially in off-season and not just NFL but all sports franchises), as the Damar Hamlin cardiac arrest on the field. What happens if he did have vaccine induced myocarditis and he died from cardiac arrest due to catecholamine (adrenalin) surge? Did he die in his sleep, at dawn, while waking (McCullough is prescient in this issue)? Operating a car? Exercising? All of those implicate vaccine, post vaccine injury. Was it a stressful situation he was under and adrenalin surge onto a myocardium that was scarred due to myocarditis (COVID gene shot), caused cardiac arrest? We need to know societally.

Tragedy has struck the NFL world as former Detroit Lions linebacker Jessie Lemonier abruptly died, the team announced Thursday

Lemonier was only 25.

“We are shocked and saddened to learn of the passing of former Detroit Lion Jessie Lemonier,” the Lions said in a statement posted to Twitter.

SOURCE:

Former Detroit Lions Player Dies Unexpectedly at 25, Team Announces

SLAY NEWS//

The latest reports from Slay NewsNumber of Americans Dead from Non-Covid Causes SoarsThe number of excess non-Covid deaths has soared in the United States, with an additional 300,000 Americans dead since 2020, new official data shows.READ MOREHollywood Star Turns on Alec Baldwin: ‘This Is What Happens When You Cut Corners’Two-time Academy Award nominee Michael Shannon broke his silence on Alec Baldwin’s criminal charges and doomed the fallen star.READ MOREJuanita Broaddrick Calls for FBI Raids of Schiff and Swalwell’s Homes for Classified DocumentsBill Clinton’s rape accuser Juanita Broaddrick is calling for the FBI to raid the homes and offices of Democrat Reps. Adam Schiff (D-CA) and Eric Swalwell (D-CA) to search for classified documents after they were booted off the Intel Committee over national security concerns.READ MOREAdam Schiff Complains about Being Kicked Off Intelligence CommitteeDemocrat Rep. Adam Schiff (D-CA) is complaining about being kicked off the House Intelligence Committee by Republican Speaker Kevin McCarthy (R-CA).READ MORESheriff’s Office Reveals Cause of Jeremy Renner’s Tragic Accident: He Was Trying to Save NephewHollywood star Jeremy Renner suffered serious injuries when he was crushed by a snowplow earlier this month.READ MOREGoogle Is Curating Data for AI, Whistleblower ClaimsBig Tech giant Google is curating data that artificial intelligence (AI) uses to learn, a whistleblower has claimed.READ MOREPayPal Hack Exposes Customers’ Social Security Numbers, NamesThousands of PayPal’s customers’ Social Security numbers and names have been exposed in a hack, according to reports.READ MOREDog Shoots and Kills Owner in Bizarre AccidentA 32-year-old Kansas man has been killed in a bizarre and tragic accident when his dog fatally shot him, according to the Sumner County Sheriff’s office. READ MOREGov Hochul Refuses to Re-Hire Fired Unvaxxed Healthcare Workers after Mandate Overturned, Despite ShortageNew York’s Democrat Governor Kathy Hochul is refusing to re-hire the state’s unvaxxed healthcare workers who were fired for failing to comply with the now-overturned vaccine mandate.READ MOREJosh Hawley Introduces ‘PELOSI Act’ to Block Members of Congress Trading StocksRepublican Senator Josh Hawley (R-MO) has introduced a new bill called the “PELOSI Act” which seeks to block members of Congress from abusing their positions by trading stocks for personal profit.READ MORELynette ‘Diamond’ Hardaway’s Cause of Death Listed as Heart FailureLynette “Diamond” Hardaway’s death certificate lists heart failure as the cause of her sudden passing, according to reports.READ MOREKevin McCarthy Formally Removes Adam Schiff & Eric Swalwell from Intelligence Committee: ‘Integrity Matters More’Republican House Speaker Kevin McCarthy (R-CA) has formally removed Democrat Reps. Adam Schiff (D-CA) and Eric Swalwell (D-CA) from their powerful Intelligence Committee roles.READ MOREGOP Rep Introduces Bill to Stop Congressional Candidates Giving Campaign Funds to Family: ‘A Critical Step’Republican Rep. Pat Fallon (R-TX) has introduced legislation to prevent campaign funds from going to a congressional candidate’s immediate family.READ MOR

MICHAEL EVERY/RABOBANK

Black And White Gold + BRICS And Mortars = Inflation

THURSDAY, JAN 26, 2023 – 01:30 PM

By Michael Every of Rabobank

Black gold, white gold = inflation

Trigger warning: today’s Daily again references big picture issues and literal triggers, rather than the up-and-down xbp or y% of assets a, b, or c.

Except in one regard: markets were juiced yesterday by a major US energy firm announcing it would start share buy-backs on a huge scale. That is despite the backdrop of rising refinery crack spreads and worries about the future upwards trajectory of energy prices. Regardless, financialisation again takes priority over productive investment and production – although the US firm involved points to the regulatory backdrop steering towards a green transition as part of reason for its choice.

On which, the Guardian(!) yesterday “Revealed:” –though it’s no revelation to some– “How US transition to electric cars threatens environmental havoc.” In short, the required lithium is three times current global production, with appalling environmental side-effects and destruction of water tables; and that’s just for the US, not the growing global market.

The Guardian argues the only sustainable solution is to build more walkable US cities with public transport and bicycle options. Which rules out the American Way; and that of Canada and Mexico; Latin America; obviously the Middle East; most of Asia; Australia; even fluffy New Zealand; and Africa too, as it develops. Indeed, we would need an unfeasibly expensive economic geography-economic model redesign to make everywhere work like Amsterdam, nice as that would be. Logically, therefore production of either black gold, oil, and/or white gold, lithium, is going to be needed on a vast, and environmentally damaging scale ahead.

Yet the market is celebrating a return to financialization and share buybacks that produces nothing but inequality and, for the real economy, volatility.

BRICS and mortars = inflation

That backdrop also has enormous geopolitical and geoeconomic implications. Given where many key commodities reside, we recently saw the proposed launch of a pan-LatAm currency, the ‘Sur’, to be used for international trade settlement to replace the US dollar. Russia’s Foreign Minister Lavrov is suggesting 2023 might also see the launch of a new BRICS currency tied to gold at the summit to be held in South Africa at a later date.

Some think that if new bricks in an anti-US wall mean the US dollar is doomed; and gold is picking up of late, with China stepping up its purchases (even if total holdings are still miniscule compared to dollars), which some think makes that case.

However, this new paradigm doesn’t recall how gold worked when it was around – and I mean the true gold standard prevailing before WW1, not the ‘let’s pretend we are on  gold’ that was evident after WW1 and after WW2, both of which broke down.

In the ‘gold old days’, it was used for international trade settlement, and local paper money could be redeemed for it. Banks still made fiat loans. Governments often still spent far more than they taxed.

If the economy overheated, imports flooded in, and gold flooded out. Devaluation of the paper currency vs. gold followed, so imports got more expensive and exports cheaper. The same thing happened if other countries raised the deposit rates they paid on gold above those elsewhere. To prevent painful devaluations, gold deposit rates needed to rise to entice foreign gold back into the country, and/or public spending had to be slashed, or taxes raised, to cool things down.

Overlooking the fact that inflation therefore swung wildly from high rates to deep deflation, because gold was the target, not stable prices, this arrangement was no different from the neoliberalism of the IMF and Wall Street. Brave, anti-imperialist, anti-Western BRICS governments thinking a new, more humanistic path can be paved with gold –with public transport, bicycle lanes, and walkable cities– are deluding themselves. It’s a policy straitjacket.

Globally, it is also a black or white zero-sum game that will see the US weaponize itself, and the dollar, further.

The concept is the BRICS keep their local currencies but switch to a gold-backed currency for trade settlements: freedom! Except you can’t run trade deficits on gold without having an ‘IMF’ policy response forced on you. So, logically:

• The BRICS would have to force the West they export to move onto gold too, and watch them suffer devaluation, deprivation, and desperation for once – how bullish for markets!; or
• The BRICS would accept dollars as settlement, then sell them in the market for the new gold-backed currency – to whom? No BRICS would want dollars, and the West would not use gold; or
• The BRICS would have to decouple from trading with the West and sell all their output to each other… while balancing intra-bloc trade to avoid anyone becoming a Germany to anyone else’s Greece. That’s despite them being commodity exporters, with the exception of China.

Furthermore, this is all going to happen while the West watches impotently on, not seeing an existential threat emerging, even to the wolves of Wall Street. The bloodthirsty world-dominating US imperialists some intellectual BRICS fans decry are also structurally incapable of doing anything at all to snuff out evident threats to their franchise from the disenfranchised. True, the latest heralding of energy-sector share buybacks and the usual inanities at Davos suggest that could be the case. Yet, as always, I urge you to look elsewhere, and at the military.

Western Leopard 2 tanks will now trundle towards Ukraine, although in uncertain, but certainly low numbers. More importantly, the New York Times tweets: “To keep Ukraine’s howitzers firing, the Pentagon will increase its production of 155-mm shells six-fold, to 90,000 rounds per month – raising ammunition production in the US to the highest levels since the Korean War.” Moreover, the Washington Post has an editorial about the $858bn Pentagon budget, and how it adopts wartime purchasing practices. In particular, a provision allows the US military to sign “emergency” multiyear, non-competitive agreements to produce munitions, missiles, rockets, and mortars, aimed at cost-saving via bulk buying, two things the Pentagon has failed badly at for years.

The Post also notes the budget proposal does far more than that: “It lays the foundation for a vastly revitalised defence industrial base – and does so with one eye on the People’s Republic of China.” 25 new mass-assembly lines will soon roll out weapons quantities “far in excess of what is required to replenish Ukraine.” 700 HIMARS systems are ordered vs. the 20 sent to aid Kyiv, and 3,600 of two kinds of anti-ship missile, more appropriate for the South China than the Black Sea.

Concurrently, there is also a lobbying effort underway for the US to start to rebuild its merchant marine, as well as reversing planned cuts to the US Navy.     

Strategically, Vegetius would argue this is the right thing for the US to do, and the Pentagon specifically echoes him in stating, “Production is deterrence.”

More US production of mortars is also a response to the BRICS, and sits alongside the CHIPS Act and Inflation Reduction Act that together bring tech production back home.

However, this boost in production is also inflationary before it eventually moderates via a domestic supply-side response.

I repeat that until now the Ukraine war, and the wider new Cold War, have been fought with INVENTORY run-downs; now they will have to shift to PRODUCTION, reordering economies in the process.

This surge in Pentagon demand against supply constraints in the US defence-industrial sector is going to have a similar effect to that of Covid stimulus (which a recent Fed paper suggests added 2.6 percentage points to headline CPI).

That suggests a risk that the Fed might have to do more on rates than some think it will after its upcoming pause (which the market just got excited about hearing the BOC use too). Indeed, as just shown, an interest rate response was a past method of draining gold from rival countries, and it’s true for the Fed today too; and if means less financialisation and more production, all the better. (Which may be why Wall Street really won’t talk about this.) Plus, the Fed has swap lines it can use, or not, within the hegemonic Eurodollar system.

Also, even if the Fed ignores the Pentagon —highly unlikely– and opts for more financialization, the drop in production –and geopolitical drop in the dollar– would also prove inflationary. Again, that would shock some in markets.

Okay, that’s enough references to big picture issues and literal triggers: please go focus on the up-and-down xbp or y% of assets a, b, or c.

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

8.EMERGING MARKETS ISSUES//AUSTRALIA ISSUES.

END

YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS/THURSDAY MORNING 7;30AM

EURO VS USA DOLLAR:1.0893  DOWN  .0028 

USA/ YEN 129.78 UP  0.521/NOW TARGETS INTEREST RATE AT .50% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN  STILL FALLS//

GBP/USA 1.2393 DOWN   0.0017

 Last night Shanghai COMPOSITE CLOSED 

 Hang Sang CLOSED 

AUSTRALIA CLOSED DOWN 0.29%  // EUROPEAN BOURSE: ALL GREEN 

Trading from Europe and ASIA

I) EUROPEAN BOURSES  ALL GREEN

2/ CHINESE BOURSES / :Hang SANG CLOSED 

/SHANGHAI CLOSED 

AUSTRALIA BOURSE CLOSED DOWN 0.29% 

(Nikkei (Japan) CLOSED DOWN 32.26 PTS OR 0.12%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1935.70

silver:$23.78

USA dollar index early THURSDAY morning: 101.59UP 17  BASIS POINTS from WEDNESDAY’s close.

 THURSDAY  MORNING NUMBERS ENDS

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And now your closing THURSDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 3.079% UP 7  in basis point(s) yield

JAPANESE BOND YIELD: +0.475% UP 2 AND 5/10   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.207%// UP 8  in basis points yield 

ITALIAN 10 YR BOND YIELD 4.127 UP 5   points in basis points yield ./ THE ECB IS QE ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: RISES TO +2.201% UP 5 BASIS PTS 

END

IMPORTANT CURRENCY CLOSES FOR THURSDAY  

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

Euro/USA 1.0869 DOWN 0.0031 or  31 basis points//

USA/Japan: 130.26  UP 1.003 OR YEN DOWN 100  basis points/

Great Britain/USA 1.2386 DOWN.0083 OR  83 BASIS POINTS //

Canadian dollar UP .0026 OR 26 BASIS pts  to 1.3354

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The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED ..(XXX) AT LUNAR HOLIDAY

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)…. 6.7487

TURKISH LIRA:  18.79  EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.

the 10 yr Japanese bond yield  at +0.475…VERY DANGEREOUS

Your closing 10 yr US bond yield UP 3 IN basis points from WEDNESDAY at  3.489% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

 USA 30 yr bond yield   3.627 UP 1 in basis points 

Your closing USA dollar index, 101.79 UP 38  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  THURSDAY: 12:00 PM

London: CLOSED UP 16.24 PTS OR  0.21%

German Dax :  CLOSED UP 51.21POINTS OR 0348%

Paris CAC CLOSED UP 52.11 PTS OR 0.24% 

Spain IBEX   UP  78.10 POINTS OR 0.87%

Italian MIB: CLOSED  UP 342.36  PTS OR  1.32%

WTI Oil price 81.21   12: EST

Brent Oil:  87.50  12:00 EST

USA /RUSSIAN ///   DOWN TO:  69,29/ ROUBLE DOWN 0 AND 24/100       RUBLES/DOLLAR

GERMAN 10 YR BOND YIELD; +2.201

UK 10 YR YIELD: 3.309  DOWN 7 BASIS PTS.

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0888  DOWN .0032    OR 32 BASIS POINTS

British Pound: 1.2409 UP   .0000  or  0 basis pts

BRITISH 10 YR GILT BOND YIELD:  3.3175% UP 5 BASIS PTS

USA dollar vs Japanese Yen: 130.266   UP 1.009////YEN  DOWN 101 BASIS PTS//

USA dollar vs Canadian dollar: 1.3329 DOWN .0052 (CDN dollar, UP 52 basis pts)

West Texas intermediate oil: 81.18

Brent OIL:  87.57

USA 10 yr bond yield UP 3 BASIS pts to 3.453%

USA 30 yr bond yield DOWN 0 BASIS PTS to 3.622%

USA dollar index:101.62 UP 20  BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 18.80

USA DOLLAR VS RUSSIA//// ROUBLE:  69.26  UP  0 AND  4/100 roubles

DOW JONES INDUSTRIAL AVERAGE: UP 205.57 PTS OR 0.61% 

NASDAQ 100 UP 236.79 PTS OR 2.00%

VOLATILITY INDEX: 18.76 DOWN 0.32 PTS (1.68)%

GLD: $179,47 DOWN 1.64 OR 0.91%

SLV/ $21.99 UP .02 OR 0.09%

end)

USA TRADING TODAY IN GRAPH FORM

Bonds & Bullion Drop, Stocks & Dollar Pop On Hawkish Rate-Hike-Odds Shift

THURSDAY, JAN 26, 2023 – 04:01 PM

A slew of ‘hard’ data beats (GDP, Dur Goods, New Home Sales) and solid labor market data (Initial Claims), reinforced the odd decoupling between ‘soft’ survey data and the actual macro data from the US economy…

Source: Bloomberg

In fact ‘soft’ survey data has been collapsing as labor market indications have soared in the face of 100s of bps of rate-hikes…

Source: Bloomberg

Interestingly, this ‘good’ news prompted a hawkish response in rate-trajectory expectations…

Source: Bloomberg

Despite the hawkish response, all the majors closed green today led by Nasdaq’s surge. The S&P managed gains of around 1% with the late day surge taking Nasdaq up almost 2%…

The Nasdaq managed to rally up to its 200DMA perfectly today…

“Most Shorted” stocks ended lower for the 3rd straight day, despite a second day of rebounding intraday…

Source: Bloomberg

But there were plenty of idiosyncratic equity market drivers today.

XOM hit a new all-time record high today…

Source: Bloomberg

…as CVX rallied almost 5% on the back of its White House-snubbing buyback…

Source: Bloomberg

Who could have seen that rally coming?

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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&frame=false&hideCard=false&hideThread=false&id=1595155436247961600&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Fbonds-bullion-drop-stocks-dollar-pop-hawkish-rate-hike-odds-shift&sessionId=6ceba90750fc22396f82b80522fa62402fb4b84e&siteScreenName=zerohedge&theme=light&widgetsVersion=aaf4084522e3a%3A1674595607486&width=550px

But it was TSLA that really stole the show, rallying over 10% and overtaking XOM in terms of market cap once again…

Source: Bloomberg

Odd that the mainstream media is not giving us a tick by tick update of just how much Elon Musk’s net worth is rising now?

Source: Bloomberg

MSFT extended yesterday’s manic ramp higher after the earnings pump and dump…

While stocks were bid, bonds were offered with the short-end underperforming marginally (2Y +6bps, 30Y +2.5bps). On the week, only the 30Y yield is lower (-3bps) while the belly is up around 3bps…

Source: Bloomberg

The Dollar ended practically unchanged today, hovering at the May 2022 lows

Source: Bloomberg

Bitcoin soared higher after the cash equity close last night, up to $23,800, but fell back to its ‘safe space’ around $23,000 during today’s session…

Source: Bloomberg

Gold slipped lower on the day after tagging $1950 (futs) overnight. We note that Gold has been bid at 0900ET every day for last 6 straight days…

Oil prices managed gains today with WTI back above $82 intraday (meaning gas prices at the pump will continue accelerating)…

Finally, how did this happen? Economic risk-reward has flipped to bullish for the euro and bearish for the dollar, thanks to diverging indicators of economic growth. Too much US optimism and an excess of euro pessimism were priced in last year, and as euro-zone gauges surprise positively and US readings underwhelm, the narrative is evolving and the ECB is bolstering the euro case, Audrey Childe-Freeman, Bloomberg Intelligence’s chief G-10 FX strategist, said in a note on Wednesday.

Source: Bloomberg

However, what Audrey perhaps is missing is that this is not a decoupling… it’s a lag.. and that means Europe is next for the disappointment.

END

EARLY MORNING TRADING/

EARLY AFTERNOON TRADING//

ii) USA DATA

Initial jobless claims plunge but continuing claims rise. Not the picture that Powell wants to see

(zerohedge)

Powell Perplexed: Initial Jobless Claims Plunge To 9-Month Lows

THURSDAY, JAN 26, 2023 – 08:37 AM

Following last week’s unexpected plunge in initial and continuing claims – despite numerous layoff announcements – analysts expected a small rebound this week but they were wrong as the number of American filing for unemployment benefits for the first time tumbled to 186k (205k exp). Unadjusted claims crashed back to earth…

Source: Bloomberg

That is the lowest level for initial claims since April 2022.

Last week we saw an unusually large plunge in claims in NY state. This week the massive outlier is California…

While initial claims continued to slide, continuing claims rebounded (for the second week in a row) the prior week to 1.675mm…

Source: Bloomberg

This is not the picture that Powell is hoping for given the unprecedented tightening of monetary policy he has unleashed over the last year. There is nothing in this data that warrants a ‘pause’ by The Fed.

Interestingly, however, the aggregate composite number of Americans claiming benefits is rising…

Source: Bloomberg

This looks a lot more like reality we would expected after 100bps of bps of rate-hikes.

end

US Core Durable Goods Order Growth Weakest In 2 Years, Aircraft Orders Surge

THURSDAY, JAN 26, 2023 – 08:50 AM

Following November’s unexpected collapse, analysts expected a big rebound in US durable goods orders in preliminary December data (despite Manufacturing survey data dismally deep in contraction). They were right but the scale of the rebound was almost unprecedented as Durable Goods New Orders roared 5.6% MoM (more than double the +2.5% expected)

Source: Bloomberg

That is the biggest jump since July 2020.

The big driver of the headline surge was a massive surge in non-defense aircraft orders (the biggest monthly jump since Boeing’s rip in Oct 2014)…

Source: Bloomberg

Which explains why the Durable Goods Orders Ex-Transports was so weak (down 0.1% MoM) and non-defense, ex-air orders tumbled 0.2% MoM…

Source: Bloomberg

Which left the YoY rise in Core Durable Goods Orders up only 3.33% (well below inflation) – the weakest since Jan 2021.

A mixed picture for hawks and doves.

end

The economy is not stronger.  It was lifted by a surge of inventories.  This will level off in Q1 and thus Q1 2023 will have a negative growth

(zerohedge)

Q4 GDP Stronger Than Expected Due To Surge In Inventories, Offsetting Drop In Personal Consumption; Sets Up Negative Q1 Print

THURSDAY, JAN 26, 2023 – 09:18 AM

The Biden admin has picked a “soft landing” narrative as the hill it will die on, and it will hold on to its until the last possible moment, damn it.

Moments ago, alongside other strong macro data, including blockbuster initial jobless claims which were driven by a Bizarro plunge in California initial claims, and stellar Durable goods propelled higher by a freak number of near-record non-def aircraft orders in December, the BEA reported that in Q4, US GDP rose by a stronger than expected 2.9% (or 2.880% to be precise), a modest drop from the 3.2% in Q3 and well above consensus estimates of 2.6% (where the range was from 1.2% to 3.9% from 73 economists).

The fourth-quarter increase in real GDP reflected increases in inventory investment, consumer spending, government spending, and business investment that were partly offset by decreases in housing investment and exports. Imports, which are a subtraction in the calculation of GDP, decreased.

• The increase in private inventory investment was led by manufacturing (mainly petroleum and coal products as well as chemicals) and mining, utilities, and construction industries (led by utilities). 
• The increase in consumer spending reflected an increase in services (led by health care, housing and utilities, and “other” services) and goods (led by motor vehicles and parts)
• The decrease in housing investment was led by new single-family housing construction and brokers’ commissions

Looking at a breakdown of components as a portion of the bottom line GDP number we get the following:

• Personal consumption accounted for 1.42% – or half – of the bottom line 2.880% GDP number; this was below last quarter’s 1.54% and came in below expectations; on an annualized basis PCE was 2.1%, well below the 2.9% expected, and down from 2.3% in Q3.

• Fixed Investment shrank by another 1.20%, continuing a trend started in Q2, when it shrank -0.92% and followed with a -0.62% drop in Q3. Nonresidential fixed investment, or spending on equipment, structures and intellectual property rose 0.7% in 4Q after rising 6.2% prior quarter
• The change in private inventories was a surprising boost to the bottom line, adding 1.46%, a reversal from the declines in the prior three quarters (in Q3, it dropped -1.19%). It appears that the inventory destocking/liquidation is now over.

• Exports declined a modest -0.15%, a big drop from the 1.65% increase in Q3, while imports rose 0.71%, also below last quarter’s 1.21% increase.
• Finally, government consumption was unchanged Q/Q, and printed at 0.64% vs 0.65% in Q3.

And a visual summary of all the components:

On the other hand, just like economists ignored much of the weak H1 2022 GDP data they should also look at H2 GDP on the same basis, and here when one uses Real Final Sales to Private Domestic Purchasers – which strips out things like trade and inventories- we get a far worse number of just 0.2% in Q4. This was the lowest print since the covid crash!

Even Fed Mouthpiece Nick Timiraos is bringing attention to this series:

Elsewhere, real disposable personal income (DPI) – or personal income adjusted for taxes and inflation – increased 3.3% in the fourth quarter after increasing 1.0% in the third quarter. This is not to be confused with real weekly and hourly earnings which remain deeply negative as a result of wages rising far below the rate of inflation for a record 21 months.

Current-dollar DPI increased 6.5% in the fourth quarter, following an increase of 5.4%. The increase in current-dollar DPI for the third quarter primarily reflected increases in compensation and personal current transfer receipts.  Personal saving as a percentage of DPI was 2.9 percent in the fourth quarter, compared with 2.7 percent in the third quarter

Finally, looking at what is arguably the most important number in today’s GDP print, gross domestic purchases prices, the prices of goods and services purchased by U.S. residents, increased 3.2% in the fourth quarter after increasing 4.8% in the third quarter. Excluding food and energy, prices increased 3.8% after increasing 5.0%.

And linked to this, the price index – closely watched by the Fed – rose 3.5% in 4Q after rising 4.4% prior quarter, while the core PCE rose 3.9%, in line with expectations and below the 4.7% in the prior quarter. In other words, inflation is no longer a factor for the Fed and is expected to slide sharply in the coming months as the Fed keeps rates around 5%.

Several observations from this data: despite some weakness in Q4, the data was generally of a soft-landing, or Goldilocks, nature. This is good news for markets and for Powell, who can continue taking the foot of the gas pedal as he is expected to do with a 25bps hike next week.

On the other hand, while US GDP exceeded expectations by growing 2.9%, underlying private domestic demand was quite weak, coming in below consensus at 2.1% which however is likely enough to delay recession expectations to the back half of the year, when employment will be the last economic metric to break. The combined contributions of household consumption, capex, and residential investment was just 0.22% — the lowest since the second quarter of 2020. At the same time, inventories and exports contributed a combined 2.2%, so this figure was essentially the negative image of the first half of the year, when strong demand was offset by those more ephemeral components.

Finally, talking of pivots: the inventory liquidation ended in Q3 and in Q4 inventories rose again. This means that in Q1 inventories will now slide again, pushing GDP negative. Here is CIBC economist Katherine Judge who sees the potential for a decline in GDP in the current quarter, partly thanks to the build-up in inventories:

“With inventories now elevated across many industries, and consumers running through excess savings, we see the potential for a contraction in the economy in the first quarter as the impact of past rate hikes materializes more fully, and consistent with a tapering off of momentum in recent monthly indicators.”

As Bloomberg summarizes, it paints a picture of an economy that is decelerating, but with firms (in aggregate) still hungry for labor as today’s claims number showed. This all sets up an interesting contrast, and raises the question of whether it will be underlying domestic demand or labor demand that eventually adjusts.

And while the GDP data was not too surprising, the sharp drop in the initial jobless claims number, which as noted was mostly due to a freak drop in Cali initial claims…

… puts the seasonally adjusted 4-week average less than 30,000 above April 2022 lows. That number was 80,000 in August. In some ways, we’re in a better position now employment-wise than we were five months ago. The Fed has to be worried about this turn of events unless inflation also slows dramatically, as the last thing Powell wants is to be seen doing is cutting rates with the next business cycle beginning with inflation at 3%. A tight labor market could mean inflation never gets down to the 2% target then. That’s exactly why it would take a deep recession to get the Fed to cut in 2023.

Commenting on the data, Stifel economist Lindsay Piegza said that “there was enough resilience in the US economy to maintain positive momentum in Q4. But the bigger question is, are we able to maintain that momentum as we turn the calendar page, and most of the data suggests that we do not.”

END

New home sales is a good part of GDP. It suffered its biggest annual drop since Oct 2021 and to boot, median price also tumbled hugely

(zerohedge)

New Home Sales Just Suffered Biggest Annual Drop Since Oct 2021, Median Price Tumbled

THURSDAY, JAN 26, 2023 – 10:09 AM

Following the continued decline in existing home sales, new home sales were expected to drop notably in December (after two months of surprising improvements). After rising 8.2% and 5.8% MoM respectively in the last two months (as mortgage rates dipped and homebuilder incentives soared), new home sales surprised once again – rising 2.3% MoM (dramaticaly better than the 4.4% decline expected). However, that surprise was due to a huge downward revision in November data from a 5.8% surge in new home sales to just 0.7%…

Source: Bloomberg

That pushed the drop in New Home Sales down to 26.6% YoY – the worst drop since Oct 2021.

It appears the rebound in mortgage applications and reversal lower in mortgage rates has run out of juice for the new home buyer…

Source: Bloomberg

Bear in mind that, as we detailed recently, cancellations are running at at higher rate than at the peak of the 2008 financial crisis…

Notably, the median new home price dropped to $442.1K, lowest since August…

But the ‘average’ price was barely changed…

Finally, given the total collapse in homebuilder confidence (about future sales), which still has a long way to go to catch down to the collapse in homebuyer confidence, we would suggest real estate agents ‘brace, brace, brace’…

Source: Bloomberg

Is that really where The Fed wants the US housing market to end up?

end

Trade deficit in goods widens in December

U.S. trade deficit in goods widens in December after narrowing sharply in prior month

Jan. 26, 2023 at 8:54 a.m. ET

MarketWatch

Exports drop led by industrial supplies and consumer goods

The numbers: The U.S. trade deficit in goods widened 8.8% to $90.3 billion in December, according to the Commerce Department’s advanced estimate released Thursday.

Economists polled by Econoday were looking for the deficit to widen to an $88.5 billion deficit.

The advanced trade data is expressed in nominal terms, meaning it is not adjusted for inflation.

The widening in the trade gap only partly reverses a plunge in November.

Key details: Imports of goods rose to $257.1 billion in December led by autos and consumer goods.

Exports fell to $166.8 billion on declines in industrial supplies and consumer goods.

The report also showed a 0.1% gain in wholesale inventories. And advanced retail inventories were up 0.5%. Excluding autos, retail inventories were also up 0.1%.

Big picture: The government estimated that the trade sector made a modest 0.6 percentage point contribution to fourth quarter growth after a sharp gain of 2.9 percentage points in the prior quarter.

III) USA ECONOMIC STORIES

AFTER THE BELL!

I hope this tells you the real shape the economy is in: Intel craters with a shockingly bad earings report and catastrophic guidance!

(zerohedge)

Intel Craters After Shockingly Bad Earnings, Catastrophic Guidance

THURSDAY, JAN 26, 2023 – 04:32 PM

Just when you thoughts that – even purely on a statistical basis – Intel was overdue for an earnings beat after no less than 9 consecutive earnings disasters in the past 10, moments ago the company managed to do the seemingly impossible and sent its stock plunging yet again after reporting not just big misses for Q4 but worse, guiding catastrophically for Q1.

Here’s what INTC just reported for Q4:

• Adjusted EPS 10c, down 92% (yes you read that right), and missing both the estimate of 19c and 10c below the company’s own guidance
• Revenue $14.04 billion, down a massive 28% Y/Y, and missing estimates of $14.49 billion. This was the lowest quarterly revenue since 2016!
  • Client Computing revenue $6.63 billion, missing estimates $7.42 billion
  • Datacenter & AI revenue $4.30 billion, beating estimates $4.05 billion
  • Network & Edge revenue $2.06 billion, missing estimates $2.21 billion
  • Accelerated Computing Systems & Graphics revenue $247 million, beating estimates $203.4 million
  • Mobileye (spun off) revenue $565 million, beating estimates $435.1 million
  • Intel Foundry Services revenue $319 million, estimate $191.5 million
• Adjusted operating margin 4.3%, badly missing estimates of 7.22%
• Adjusted gross margin 43.8%, missing estimates 45%

Putting INTC’s cratering revenue in all its glorious visual context:

So yeah, very bad. But not as bad as the company’s dismal Q1 forecast which was catastrophic compared to consensus expectations:

• Sees adjusted revenue $10.5 billion to $11.5 billion, some $3 billion below the estimate of $13.96 billion
• Sees adjusted loss (yes, loss) per share 15c, badly missing the estimate of an EPS profit of 25c
• Sees adjusted gross margin 39%, just as badly missing the estimate 45.5%

The outlook reflects the myriad challenges facing Intel, which was attempting to stage a comeback even before the market for personal-computer chips — its main source of revenue — fell into a slump. To get back on track, the company needs computer makers to quickly work through inventory stockpiles and return to ordering components. That would provide Intel with a revenue boost needed to help shore up its finances, which were already stretched by ambitious plans to regain technological leadership within the chip industry.

CEO Pat Gelsinger tried his best to put some lipstick on this particular pig and failed noting that  “despite the economic and market headwinds, he continued to make good progress on our strategic transformation in Q4, including advancing our product roadmap and improving our operational structure and processes to drive efficiencies while delivering at the low-end of our guided range.”

Very low end he should have clarified; he went on “In 2023, we will continue to navigate the short-term challenges while striving to meet our long-term commitments, including delivering leadership products anchored on open and secure platforms, powered by at-scale manufacturing and supercharged by our incredible team.”

But what is even scarier is his admission that he is seeing the largest every inventory correction by customers in Q1, which in turn is impacting the revenue outlook.

Here one wonders just how difficult is it to slash prices and clear out inventories while guiding lower so that the stock actually rises on earnings for once? Apparently very, because as shown below, INTC stock has tumbled on 9 of the past 10 earnings reports!

And with today’s disastrous report which has dragged down the entire semiconductor sector lower, one can make that 10 of the past 11: INTC stock is down more than 8% after hours as the market can’t believe just what a complete mess this company has become. And with today’s wipeout, the stock has vaporized almost all of its 14% in gains in 2023, following an absolutely gruesome 2022.

The catastrophic report has dragged down shares in the entire semiconductor space: Advanced Micro Devices -1.2%, Nvidia -0.8%, Qualcomm -1.6%, The VanEck Semiconductor ETF fell 0.7%, which had surged in recent weeks on China reopening hopes.

END

Interesting!

(zerohedge)

Study Finds US Would Run Out Of Long-Range Munitions In 1 Week In China Hot War

WEDNESDAY, JAN 25, 2023 – 08:40 PM

A new study released this week by the D.C.-based Center for Strategic and International Studies (CSIS) has concluded that America’s defense industry is “not adequately prepared” for “a protracted conventional war” with an enemy with a large military like China.

The findings were the result of a war games simulation which also relied heavily on observations and statistics being gained from the Ukraine-Russia war, and Washington’s ongoing military support role to Kiev.

Information from the Ukraine war led CSIS to find that the US would rapidly deplete its munitions, particularly long-range, precision-guided ones – in merely less than a week of a hot war with China in the Taiwan Strait.

“The main problem is that the U.S. defense industrial base — including the munitions industrial base — is not currently equipped to support a protracted conventional war,” the study emphasized.

“The bottom line is the defense industrial base, in my judgment, is not prepared for the security environment that now exists,” CSIS’s Seth Jones concluded in a statement to The Wall Street Journal.

As the study’s main author, Jones posed the question: “How do you effectively deter if you don’t have sufficient stockpiles of the kinds of munitions you’re going to need for a China-Taiwan Strait kind of scenario?” According to more from the study:

“As the war in Ukraine illustrates, a war between major powers is likely to be a protracted, industrial-style conflict that needs a robust defense industry able to produce enough munitions and other weapons systems for a protracted war if deterrence fails…”

“Given the lead time for industrial production, it would likely be too late for the defense industry to ramp up production if a war were to occur without major changes.”

The report additionally pointed out that the slow-moving nature of US bureaucracy and oversight is also a fundamental aspect to the problem:

The study also said that the U.S.’s foreign military sales (FMS) take too long because they need to be initiated by the Department of State and then executed by the Department of Defense and ultimately approved by Congress. Foreign sales have benefits, including supporting the U.S. defense industry, strengthening ally relations and preventing the sale of adversary systems to other countries, the study said.

“The U.S. FMS system is not optimal for today’s competitive environment — an environment where such countries as China are building significant military capabilities and increasingly looking to sell them overseas,” the study stated.

It does seem the Pentagon is taking note, and is aware that events in Ukraine have exposed US defense shortcomings, as the Biden administration chooses to get more and more involved. The New York Times reported Tuesday that the US plans to boost production of artillery ammunition by 500% over the next two years.

Whereas the US Army previously produced 14,400 155mm shells a month, the new plans could see those numbers hit over 90,000 each month.

END 

YUMA ARIZONA

Yuma Arizona on the brink of collapse as they cannot handle all of those migrants coming across the border

(zerohedge)

Yuma Arizona ‘On The Brink Of Collapse’ Due To ‘Unprecedented’ Migrant Surge

WEDNESDAY, JAN 25, 2023 – 11:20 PM

The border city of Yuma, Arizona is on the ‘brink of collapse’ as a flood of migrants have overloaded hospitals and food banks.

According to officials, some 5 million migrants have crossed into the US since President Biden took office in January 2021.

As a result, Yuma County’s Border Patrol has seen a rise in migrant crossings of 171%. According to County Supervisor Jonathan Lines, the county will ‘crumble’ if it can’t support the flow of migrants. Lines says that the situation will only get worse, according to the Fox News.

In a statement to Fox News, Lines said that “Policies need to be changed when you see an unprecedented amount of people coming across the border that even supersedes what we saw under any of the other presidents for the past 30 years,” adding that the surge in crossings is “ridiculous.”

“They’re coming because they said that Biden told them to come, that we have an open border.”

According to fifth-generation Yuma resident and farmer, Hank Auza, “The problem that we’re foreseeing right now is there’s a couple of big waves coming,” adding “Yuma can’t support that. It will overwhelm the system here.“

El Paso, Texas, another border town, declared a state of emergency as thousands of migrants camped in the streets during below-freezing temperatures in December. Many migrant shelters were over capacity, leading the city to use the local airport for temporary refuge. 

Lines, Auza and another Yuma farmer, Alex Muller, had shared concerns, starting with the fear around food security, since agricultural production makes up a large part of the town’s economy. 

“Our fields are monitored and audited and tested for different pathogens,” Muller, said. “You can’t have people walking through the field.” 

Auza said Yuma’s fields, which produce 93% of the nation’s leafy greens in the winter months, have faced a fair amount of migrant traffic, risking damage to their crops due to foodborne illness concerns. He also said many residents can’t get into the city’s only hospital.  -Fox News

“People have had a hard time getting into the hospital because the hospital has been so full of” migrants, said Auza.

END

It is not good to be a landlord in the USA with new regulations coming to proect tenants

(zerohedge)

White House Roils Housing Industry Over New Tenant Protections

WEDNESDAY, JAN 25, 2023 – 10:40 PM

The housing industry is up in arms over new tenant protections that the Biden administration administration is preparing to roll out as soon as this month, Politico reports.

The protections, which come as rents around the country are falling, could include promoting grace periods for late rents, as well as giving renters who are facing eviction the right to legal counsel, according to advocates.

According to Jerry Howard, CEO of the National Association of Home Builders, the industry is bracing for “some pretty intense regulation.”

“They need to be very cautious about what they’re doing,” he added, having attended a November White House meeting on tenant protections. “There’s a real chance of creating a problem that doesn’t exist.”

With a possible recession looming, the Biden administration will be looking for ways to provide relief to cash-strapped Americans suffering from a higher cost of living. Since the U.S. House is now under Republican control, the kind of sweeping economic legislation enacted during the last two years is off the table.

Democratic lawmakers including Sen. Elizabeth Warren (D-Mass.), are leaning on the administration to go big by curbing rent increases at millions of units in properties with government-backed mortgages – a long-shot move the White House is not seriously weighing, according to a person with knowledge of the discussions. -Politico

The National Apartment Association and 10 other industry groups are lobbying the White House to resist pressure to enact new federal requirements on top of existing laws – insisting in a December letter that doing so would “further exacerbate affordability challenges.”

“People can’t afford to live,” said Rep Jamaal Bowman (D-NY). “We want to push the president as far as possible to lighten the burden of rent on everyday people.”

Democrats are pushing the Biden administration to enact restrictions on rent hikes and punish landlords who they say are price gouging.

“[N]ot just principles, not just guidelines, but what can the president do through executive action to lighten the burden on people and put more money in their pockets,” Bowman told Politico in an interview.

The White House, meanwhile, appears to be in agreement – though it has yet to comment on specifics.

“We are exploring a broad set of administrative actions that further our commitment to ensuring a fair and affordable market for renters across the nation,” according to spokesperson Robyn Patterson. “We look forward to continuing to work with lawmakers to strengthen tenant protections and improve rental affordability.”

While rent is still driving up overall inflation — thanks in part to a data lag in the official inflation gauge — the national median rent has fallen for four straight months, according to the latest data from Apartment List. New lease demand plummeted in the second half of 2022, when the net demand for apartments fell into negative territory for the first time since 2009, according to an analysis by RealPage Market Analytics. -Politrico

“Complicating this process isn’t good at any time in the market cycle,” said Greg Brown, senior VP of government affairs at the National Apartment Association. “But we’re in the fourth straight month of rent declines. I think things are adjusting again, so it does raise the question, are they responding to a situation of three to four months ago, not what is currently happening or will be happening in the near future?“

end

Bed Bath & Beyond Craters After Confirming It Received Default Notice From JPMorgan

BY TYLER DURDEN

THURSDAY, JAN 26, 2023 – 03:21 PM

The insatiable BBBY dip-buyers just got some news of the very worst kind.

After the stock enjoyed one of its typically idiotic short squeezes earlier this month which pushed the worthless shares from $1.27 to $6 in a few days courtesy of panicking shorts despite constant warnings that an equity value-vaporizing bankruptcy was imminent, moments ago the company filed a 10-Q in which it confirmed that a bankruptcy is now officially in play after the company received a notice of default from JPMorgan on its credit facility.

According to the filing, “on or around January 13, 2023, certain events of default were triggered under the Company’s Credit Facilities as a result of the Company’s failure to prepay an overadvance and satisfy a financial covenant, among other things.” As a result of the event of default, on January 25, 2023, the administrative agent under the Amended Credit Agreement (JPMorgan) notified the Company that full and immediate repayment of the full facility is due, to wit:

 The Company’s net cash used in operating activities was $307.6 million and $890.0 million for the three and nine months ended November 26, 2022. Cash, cash equivalents and restricted cash were $225.7 million as of November 26, 2022. On or around January 13, 2023, certain events of default were triggered under the Company’s Credit Facilities (as defined below) as a result of the Company’s failure to prepay an overadvance and satisfy a financial covenant, among other things. As a result of the continuance of such events of default, on January 25, 2023, the administrative agent under the Amended Credit Agreement notified the Company that (i) the principal amount of all outstanding loans under the Credit Facilities, together with accrued interest thereon, the FILO Applicable Premium (as defined in the Amended Credit Agreement) and all fees (including, for the avoidance of doubt, any break funding payments) and other obligations of the Company accrued under the Amended Credit Agreement, are due and payable immediately, (ii) the Company is required, effective immediately, to cash collateralize letter of credit obligations under the Credit Facilities, and (iii) effective as of January 25, 2023, all outstanding loans and obligations under the Credit Facilities shall bear interest at an additional default rate of 2% per annum. As a result of these events of default, the Company classified its outstanding borrowings under its asset-based revolving credit facility (the “ABL Facility) and its FILO Facility as current in the consolidated balance sheet as of November 26, 2022. The Company’s outstanding borrowings under its ABL Facility and FILO Facility were $550.0 million and $375.0 million, respectively, as of November 26, 2022. In addition, the Company had $186.2 million in letters of credit outstanding under its ABL Facility as of November 26, 2022. The Company also had $1.030 billion in senior notes (excluding deferred financing costs) outstanding as of November 26, 2022. For information regarding the Company’s borrowings, see Note 12.

Unfortunately, there is a problem: BBBY doesn’t have the money JPM is asking for, so it will most likely have to file for bankruptcy instead.

At this time, the Company does not have sufficient resources to repay the amounts under the Credit Facilities and this will lead the Company to consider all strategic alternatives, including restructuring its debt under the U.S. Bankruptcy Code. The Company is undertaking a number of actions in order to improve its financial position and stabilize its results of operations including but not limited to, cost cutting, lowering capital expenditures, and reducing its store footprint including related distribution centers. In addition, the Company will continue to seek reductions in rental obligations with landlords in its determination of the appropriate footprint, seek additional debt or equity capital, reduce or delay the Company’s business activities and strategic initiatives, or sell assets. These measures may not be successful.

They won’t be.

The stock, which as noted above was idiotically trading north of $3 (having mercifully cut its most recent short squeeze gains in half), tumbled and was halted for trading twice before some pathological dip buyers couldn’t resist and started bidding it up again.

Of course, for the stock to be trading here suggests there is still some equity “tip” value in the enterprise when even the bonds are trading a 6 cents on the dollar or pure liquidation value. In fact at this rate the bonds will be trading below where the stock is.

In any event, in light of the imminent bankruptcy filing, we found a tweet from 2014 which is perfectly appropriate for the insanity that US capital markets have become.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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&frame=false&hideCard=false&hideThread=false&id=486134513152827392&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Fbed-bath-beyond-craters-after-confirming-it-received-default-notice-jpmorgan&partner=tweetdeck&sessionId=506d4e089b299623d8fc5f401ae31d78db438d2b&siteScreenName=zerohedge&theme=light&widgetsVersion=aaf4084522e3a%3A1674595607486&width=550px

As for all those who pathologically are still buying every dip int he stock, please stop.

USA ECONOMIC ISSUES// SUPPLY ISSUES//GLOBAL ISSUES//DERIVATIVES

Have fun with this

special thanks to Neil A for sending this to us;

Comical review of Wef/Davos 2023

USA COVID//

SWAMP STORIES

THE KING REPORT

The King Report January 26, 2023 Issue 6935Independent View of the News  Walmart is raising its starting wage by 17% to lure workers, with the hourly average pay rising to $17.50 (Is wage inflation consistent with a Fed Pivot?) https://t.co/4iud0TCkT3   Boeing Tumbles on Unexpected Q4 Loss as High Costs Hit EarningsLoss per share $1.75, Adjusted loss per share $1.06; missing estimate +0.26Revenue $19.98 billion, missing estimate $20.01 billionhttps://www.zerohedge.com/markets/boeing-tumbles-unexpected-q4-loss-high-costs-hit-earnings   Pattern buyers got punished on Wednesday due to MSFT.  Too many traders are conditioned to follow patterns without contemplating if the underlying factors that created the pattern are still valid.   ESHs traded modestly higher when the Nikkei opened and then proceeded to decline sharply until 20:00 ET.  ESHs and stocks then went flat until a modest rally into the European open appeared.  After Europe opened a tad higher, ESHs and stocks commenced a tumble that ended at 10:37 ET.  ESHs bottomed at 3963.25.  (High of 4040.40 when the Nikkei opened)   ESHs then soared to 4018.00 by 13:30 ET.  Tesla, which sank as much as 4.16%, turned positive at 13:30 ET.  Traders, particularly pattern types, poured into Tesla because its results were due after the close.   Microsoft, which hit a low of 230.90 at 9:57 ET, soared to 241.50 by 13:45 ET.  Algos and conditioned traders will keep buying Fangs, or Fangmans (Fangs + MSFT + Nvidia), until the caboose of Fang results, Apple, reports on February 2 or the Fed drops a hammer on February 1.   ESHs hit 4030.75 at 14:15 ET VIX Fix.  After a moderate retreat, the pre-last hour rally appeared.  ESHs hit 4035.75 at 15:10 ET.  ESHs then declined until 15:54 ET.  A very late manipulation appeared.   USHs, which hit a high of 131 21/32 (+26/32) at 7:53 ET, sank to 130 16/32 at 11:09 ET.  After a surge to 131 7/32 at 13:30 ET, USHs sank anew.   @jsblokland: New day, familiar pattern. S&P 500 starts the day down and recovers towards the close.   Traders and Fed pivot seers keep absorbing the selling from recession-fearful organic sellers.   The Biggest Collapse in M2 Money Supply Since the Great Depression If your measure of inflation is money supply, then the economy is in a deflationary period right now.    In the mid-1990s the Greenspan Fed hugely distorted the M1 measure of money via Sweep Account Programs.  Sweeps are the process by which banks take money from checking accounts and move it to accounts that pay interest. The interest did not go to consumers, of course, but to banks…    Reverse repos explain the surge in M1 relative to M2 in the lead chart.  The Fed has seriously distorted money supply, and in the process is giving huge amounts of free money to financial institutions.    Lacy Hunt On What It Means: From the last quarter of 2021 to the same quarter in 2022, nominal ODL (Other Deposit Liabilities) is estimated to have declined at record 2.8% annual rate, the largest yearly drop in history. In real terms, ODL also contracted at a record pace.  Based upon the Fed’s monthly $96 billion balance sheet reduction and the monetary policy lags, the rate of ODL decline will accelerate in at least the first half of 2023.  If the Fed sticks with its plan to raise the Federal Funds rate another 75 basis points, the rate of decrease in ODL will be sufficient to neutralize the money mountain of 2020/21 by the second quarter of 2023, when taking velocity into consideration… https://mishtalk.com/economics/the-biggest-collapse-in-m2-money-supply-since-the-great-depression   @PelosiTracker_: The DOJ has officially opened up a lawsuit against Google to break up its Ad Technology Monopoly. Pelosi sold $3 Million dollars worth of Google just four weeks ago.  Wild.    Sen. @HawleyMO: People have asked why I named my stock trade ban the PELOSI Act. Now you know   Positive aspects of previous session Another big rally after an ugly morning in the USA   Negative aspects of previous session ESHs and equities tumbled after Europe opened Precious metals continue to rally Bonds sank a big rally from the morning through midday in Europe   Ambiguous aspects of previous session If stocks soar into the Feb 1 FOMC, what will the Fed do?   First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE open: Down; Last Hour: Up   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 3994.93 Previous session High/Low: 4019.55; 3949.06   Ex-advisor to 6 POTUS Harald Malmgren @Halsrethink: I cannot assess what “the market” thinks, often consider there is little thinking there. I believe we shall have an epic credit event soonish, probably Q2 but maybe Q3, led initially by nonbank lenders, like the GFC, but this time nonbank lenders bigger than all banks together.  Scale of risk bigger than 2008-09 crisis because nonbank lenders collectively bigger than all banks together. Nonbank risk exposure unregulated and essentially unmeasured…and then, derivatives…   Republicans’ SPR bill leaves Democrats squirming over oil leasing: ‘It’s the process of balance’ The Strategic Production Response Act… would require the Department of Energy to only tap the SPR when there is a severe energy supply interruption and not until the Interior Department (DOI) issues a plan to increase oil and gas production on federal lands and waters. The legislation is slated for a floor vote later this week…  https://t.co/dBnSOgVS71   Yesterday, The Big Guy announced that he will send 31 M1A1 Abrams tanks to Ukraine.   U.S. will send Abrams tanks to Ukraine ahead of expected Russian offensive https://www.cnbc.com/2023/01/25/ukraine-war-news-us-will-send-abrams-tanks.html   Russia expressed mounting fury at the prospect of modern Western tanks being sent to Ukraine, calling it “extremely dangerous” and saying previous “red lines” were now a thing of the past. https://t.co/VrqH2zIAsB   CNN: The push for Ukraine to shift its battlefield tactics comes amid signs that Russian President Vladimir Putin is weighing making a big move in the next several weeks to regain the initiative in the war, officials familiar with the intelligence told CNN.    CIA Director Bill Burns traveled to Kyiv earlier this month to brief Zelensky on the US assessment of Putin’s plans, sources familiar with their conversation told CNN. There are also indications that Putin is considering another troop mobilization of as many as 200,000 men, US and Western officials familiar with the intelligence told CNN… https://amp.cnn.com/cnn/2023/01/24/politics/ukraine-shift-tactics-bakhmut/index.html   German FM Says the Quiet Part: “We Are Fighting a War with Russ https://www.thegatewaypundit.com/2023/01/german-fm-says-quiet-part-fighting-war-russia/   @RNCResearch: Joe Biden can’t remember the name of his secretary of defense (again), so he calls him the “secretary of the military” — then almost calls him “Speaker.” https://twitter.com/RNCResearch/status/1618294076532527115   @greg_price11: Biden: “I shipped air defense systems all to help counter Ukraine’s brutal aggression that’s happening because of Russia.”  https://twitter.com/greg_price11/status/1618296311480188928   Obama office won’t say whether it will conduct a search for classified documents https://www.foxnews.com/politics/obama-office-wont-say-conduct-search-classified-documents   FDA emails show how vaccine leader questioned ‘hyper-accelerated’ 2021 review of Pfizer shot The emails, contained in a public records disclosure posted by the FDA, shed new light on an episode in late 2021 when Marion Gruber, director of the FDA’s Office of Vaccines Research and Review and a 32-year veteran of the agency, abruptly announced her decision to leave the agency. Her deputy, Phil Krause, who had been at FDA for more than a decade, also announced his departure, 10 days after the vaccines were formally approved… “Our concern is that a review that is hyper-accelerated beyond the already very rapid September 15 target date,” Gruber said in the email. She raised concerns that the accelerated review would be less thorough, and was “more likely to undermine confidence in the vaccine (and, indeed, in the FDA’s credibility) than to increase it.” Gruber also said she disagreed with a decision to have Marks oversee the review process… https://endpts.com/fda-emails-show-how-vaccine-leader-questioned-hyper-accelerated-2021-review-of-pfizer-shot/   @Project_Veritas: Pfizer Exploring “Mutating” COVID-19 Virus For New Vaccines – “Don’t tell anyone this...There is a risk…have to be very controlled to make sure this virus you mutate doesn’t create something… the way that the virus started in Wuhan, to be honest.” (PFE Director of R &D) https://twitter.com/Project_Veritas/status/1618405890612420609   The Game Is Over and They Have Lost “Yet because of poor messaging from officials, many people may not even realize the US is experiencing a surge.” I am one of those many people who did not know this. A surge of what? A normal seasonal flu that makes people feel a bit under the weather for a week? A bad cold-vid?… All of society need not be thrust into a panic over such things. The more normal the world is, the more resources of those who are impacted will have to deal with their troubles…   The fear-pushers seem unaware that the message has lost its effect, but do not have anything else to offer. The tell is not that they publish articles like this. It is how much these pieces show that they don’t know that the game is over, and they have lost.  https://brownstone.org/articles/the-game-is-over-and-they-have-lost/   After the close, Tesla reported Adj EPS of 119, Non-Adj 1.07, 1.13 was consensus; Free Cash Flow of $1.42B, $3.13B expected; Revenue $24.32, $24.67B consensus; Gross Margins 25.9%, 28.4% expected. Tesla initially sank 0.7%; then it jumped to a 3.5% gain; then it sank to a loss; then it rallied to +5%.   IBM tops revenue estimates, says it will cut 3,900 jobs. https://t.co/jilye4Bvq3 EPS: $3.60 as exp; Revenue: $16.69B; $16.4B exp. (IBM -2% because it’s not a trading sardine anymore)   The Cleveland Fed’s Inflation Nowcasting has January CPI at 6.39% y/y and Core CPI at 5.58%. Our inflation nowcasts are produced with a model that uses a small number of available data series at different frequencies, including daily oil prices, weekly gasoline prices, and monthly CPI and PCE inflation readings…  https://www.clevelandfed.org/indicators-and-data/inflation-nowcasting   @charliebilello: 1-Month Treasury bill yield of 4.67% is now 1.05% higher than the 30-year Treasury bond yield (3.62%). That’s the widest spread on record (note: 1-month issuance started in 2001).   Today – No Fangs report results today.  Intel, which reports after the close, is no longer a favored trading sardine.  So, the buying of Fangs could be lackluster.  Nevertheless, traders will buy dips because they remain extremely bullish.  However, barring news, the enthusiasm for rallies could be muted.   ESHs hit +8.00 at 19:17 ET on Tesla’s after hour surge despite its mixed results.  ESHs are -0.25 at 8:30 ET.  PS: Tesla is +50% during the past 13 sessions (101.20 low to 153 high)!  Is this Fed pivot worthy?   Expected earnings: DOW .58, LUV -0.07, NOC 6.57, SHW 1.85, MMC 1.41, MKC .86, MA 2.58, ALK .96, CMCSA .77, VLO 1.15, ROK 1.87, ADM 1.65, AAL 1.15, INTC .19, V 2.00   Expected economic data: Q4 GDP 2.6%, Consumption 2.8%, GDP Price Index 3.2%, Core PCE 3.9%; Dec Advance Goods Trade -$88.1B; Dec Wholesale Inventories 0.5% m/m, Retail Inventories 0.2%; Initial Jobless Claims 205k, Continuing Claims 1.658m; Dec Durable Goods 2.5%, Ex-Trans -0.2%, Nondef Ex-Air Orders -0.2%, Shipments -0.4%; Dec New Home Sales 611k; Jan KC Fed MFG -7   S&P 500 Index 50-day MA: 3939; 100-day MA: 3865; 150-day MA: 3915; 200-day MA: 3962 DJIA 50-day MA: 33,617; 100-day MA: 32,279; 150-day MA: 32,231; 200-day MA: 32,355   S&P 500 Index – Trender trading model and MACD for key time frames Monthly: Trender and MACD are negative – a close above 4514.50 triggers a buy signal Weekly: Trender and MACD are positive – a close below 3730.35 triggers a sell signal Daily: Trender and MACD are positive – a close below 3899.18 triggers a sell signal Hourly: Trender and MACD are negative – a close above 4031.74 triggers a buy signal   Tucker Drops Smoking Gun, Says Hunter Biden Used Classified Info to Profit in Ukraine “Miranda Devine of the New York Post may have brought us a little closer to the answer,” he continued. “So she analyzed the documents that we do have the ones found on Hunter Biden’s laptop. And on that laptop she found a remarkable email, an email the Justice Department that has never shown to the public.”  “Despite this, the fact is agents had it for years, the documents that Miranda Devine found indicate that a Hunter Biden had classified information in his possession,” Carlson asserted…    “On April 13, 2014 Hunter Biden set an email to his business partner at Burisma, Devin Archer,” Carlson continued.  “Now he sent this week before his father, the vice president flew to Ukraine to meet with Ukraine’s Prime Minister,” Carlson said. “In the email, Hunter Biden composed a detailed memo with nearly 2 dozen data points about the political and strategic situation on the ground in Ukraine.”    “There’s no question that Hunter Biden used classified materials to assemble this email.”… https://trendingpoliticsnews.com/breaking-tucker-drops-smoking-gun-says-hunter-biden-used-classified-docs-to-profit-in-ukraine/   The NY Post’s @mirandadevine: Here is a screenshot of Hunter Biden’s original 22-point Ukraine email cited in the column. Note the strategic detail. https://t.co/kt6GNdQD85  A curiously well-informed email about Ukraine, Russia and the UK on Hunter Biden’s laptop is a thread that links the President’s classified documents scandal to the Delaware federal investigation into his son’s foreign business dealings.  https://nypost.com/2023/01/22/theres-no-hiding-bidens-fright-over-classified-document-scandal/   Russian oligarch keeps showing up in the most inconvenient places for FBI, Washington elites In disparate controversies involving figures ranging from Sen. Mark Warner to former FBI agent Charles McGonigal, businessman Oleg Deripaska keeps turning up as a mystery figure..    Deripaska would eventually hire Steele, a former MI6 agent, to help do some research on a legal case. A few years later, Steele would author the series of memos known as the Steele dossier that alleged Trump and Putin had conspired to hijack the 2016 election from Hillary Clinton…    In 2017, Sen. Mark Warner, then the vice chairman of the Senate Intelligence Committee, secretly reached out to one of Deripaska’s American lawyers, Adam Waldman, seeking help in securing Steele’s cooperation in the Russia collusion probe and for possible help with WikiLeaks founder Julian Assange. The emergence a year later of their encrypted text messages created a brief controversy… https://justthenews.com/accountability/russia-and-ukraine-scandals/russian-oligarch-keeps-showing-most-inconvenient-places   House Speaker McCarthy rejects Jeffries’ demand to reappoint Schiff, Swalwell to Intelligence Committee – Swalwell reportedly had ties to suspected Chinese spy Christine Fang, also known as Fang Fang…She also interacted with Swalwell several times over several years and placed an intern in his office. She reportedly fled the United States and returned to China…    Schiff was one of the Democrats’ lead spokesmen on the explosive accusations that former President Donald Trump colluded with Russia in the run-up to the 2020 election. The subsequent investigation by Special Counsel Robert Mueller “did not find that the Trump campaign, or anyone associated with it, conspired or coordinated with the Russian government in these efforts, despite multiple efforts from Russian-affiliated individuals to assist the Trump campaign.”… https://www.foxnews.com/politics/house-speaker-mccarthy-rejects-jeffries-demand-reappoint-schiff-swalwell-intelligence-committee   @greg_price11 (responding to Schiff whining about his expulsion): You went on TV for two years and said that you had personally seen evidence of Trump colluding with Russia while being told in closed door hearings by intel officials that there was no evidence of it.  You should resign in disgrace.   Mike Pompeo eviscerates ‘leaker’ Adam Schiff: He should be ‘nowhere near’ classified information “Adam Schiff lied to the American people,” Pompeo said Wednesday on “Outnumbered.” “During my time as CIA director and secretary of state, I know that he leaked classified information that had been provided to him.” … “When we provided information to him and to his staff, it ended up in places it shouldn’t have been with alarming regularity… In the end, I decided, I held back information from them as a result.”… https://www.foxnews.com/media/mike-pompeo-eviscerates-leaker-adam-schiff-nowhere-near-classified-information   GOP @RepJimBanks: Nancy Pelosi kicked me off the Jan 6th unselect committee & never gave a reason. Adam Schiff & Eric Swalwell have lied, threatened our national security and cannot be trusted.  I fully support @SpeakerMcCarthy’s decision to reject their appointment to the Intelligence Committee.   @greg_price11: Swalwell: “The cost are the death threats that Miss Omar, myself, and Mr. Schiff keep getting because McCarthy continues to aim and project these smears against us… It makes us believe there is an intent behind it.” https://twitter.com/greg_price11/status/1618292406008557570   Swalwell had a second career as frequent guest on regime media excoriating Trump and others for several years.  But if you criticize him or a Dem, you are endangering their lives. (Dem hypocrisy/privilege!)   Why Is Lindsey Graham Defending Joe Biden?  “I’ve known President Biden for a long time, I don’t think there’s anything–I would be shocked if there’s anything sinister here (Classified documents)…”  https://t.co/OCYOzX5PjM   Lindsey Graham Throws Joe Biden a Lifeline Because the GOP Has Learned Nothing With Joe Biden in the midst of the biggest scandal of his presidency, one that threatens to end his probable reelection bid, you’d hope his political opposition could rally around sending one of the worst presidents in American history into permanent retirement…     What in the world is Trump doing still palling around with Graham? How can he run as someone who is going to drain the swamp when he’s scheduling rallies with one of the swampiest members of the GOP?… This is the modern Republican Party. Most of its members have learned absolutely nothing from the take-no-prisoners approach that the Democratic Party has deployed over the last decade… https://redstate.com/bonchie/2023/01/24/lindsey-graham-throws-joe-biden-a-lifeline-because-the-gop-has-learned-nothing-n693292   First Look: Initial 2024 Senate Projections Are Just Brutal for Democrats https://t.co/ciBBirX31X   @ColumbiaBugle: Tucker Carlson Reacts to Zelensky Thanking Blackrock, J.P. Morgan And Goldman Sachs While They Profit Off Of The War In Ukraine: “Oh you can make a lot of money in Ukraine. It’s the Ukrainian way! Which is of course corruption, one of the most corrupt countries in the world.” https://t.co/WbOPSGSwH2    “So, BlackRock gets paid by U.S. taxpayers via the Ukrainian government to devise a plan that ensures the success of their future investments in Ukraine, made from money gained by making American housing unaffordable.” -@bradleydevlin    Tucker Carlson: “Honestly it’s Republicans like @LindseyGrahamSC and @RepMcCaul in the House who are making this possible. Both of whom are always welcome on this show to explain why they’re doing this exactly.”   https://t.co/Gq2Yfp83hM   @AmFirebrand: @bradleydevlin on multinational corporations like BlackRock funneling money through the Ukraine scam: “They don’t think of themselves as Americans. They’re ashamed to be American. They think of themselves of as citizens of the world.” https://t.co/0Css7ASFuf   George Santos Embraces ‘Storytelling’ – Ann Coulter Just another “glad-handing pol,” searching for “a connection” — NYT©    In a space of three days last fall, President Joe Biden claimed to be Puerto Rican, practice Judaism and to have lost his house in a natural disaster.      Celebrating the Jewish New Year at the White House on Sept. 30, he told Jewish leaders, “I probably went to shul more than many of you did. You all think I’m kidding.” No, he said, “I’d go to services on Saturday and on Sunday,” adding, “You all think I’m kidding. I’m not.”      Visiting hurricane-ravaged Puerto Rico the following week, he said, “I was sort of raised in the Puerto Rican community at home.”… Sadly, as soon as Biden clinched the presidential nomination in 2020, Democrats locked him in the basement until Election Day. Who knows how many of Biden’s lies were lost to history that year!… But while the top story on MSNBC every night is: When is Santos resigning?,  Biden’s lies are lovingly indulged by the media as the “search for a connection” by “a glad-handing pol” (The Washington Post), who has “embraced storytelling” with “the factual edges shaved off to make them more powerful for audiences” (The New York Times)… https://anncoulter.substack.com/p/george-santos-embraces-storytelling   A judge has ordered the release of the Paul Pelosi SFPD bodycam footage.  Nancy is no longer Speaker.   Babylon Bee: After Priest Exorcises All Demons from Her Home, Pelosi Becomes a Republican https://babylonbee.com/news/after-priest-exorcises-her-home-pelosi-becomes-a-republican   Funny but poignant meme: Pregnant mom to doctor: “Is it a boy or a girl?”  Doctor: “We’ll let the kindergarten teacher decide.” https://twitter.com/Lukewearechange/status/1618394840131325954

GREG HUNTER REPORT//

Greg Hunter  interviewing

I will see you TOMORROW