April 24/2023 · by harveyorgan · in Uncategorized · Leave a comment·Editi

GOLD PRICE CLOSED: UP $9.45, TO $1989.45

SILVER PRICE CLOSED:UP 21 CENTS AT $25.22

Access prices: closes 4: 15 PM

Gold ACCESS CLOSE $1988.50

Silver ACCESS CLOSE: 25.15

Bitcoin morning price:, $27,295 DOWN 122 Dollars

Bitcoin: afternoon price: $27,360 DOWN 57 dollars

Platinum price closing $1091.60 DOWN $35.55

Palladium price; $1531.85 DOWN $70.55

We have now entered options expiry week, with the Comex options expiring tomorrow April 25/2023 and LBMA/OTC expiring on Friday April 28.2023. Prices on gold and silver will be subdued.

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: $2692.49 UP 11.29 CDN dollars per oz (ALL TIME HIGH 2732.50)

BRITISH GOLD: 1593,33 DOWN 0.47 pounds per oz//(ALL TIME HIGH//1629.84)

EURO GOLD: 1800.93 DOWN 2.22 euros per oz //(ALL TIME HIGH//1860.82)

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COMEX DATA EXCHANGE:

COMEX//NOTICES

EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: APRIL 2023 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,979.500000000 USD
INTENT DATE: 04/21/2023 DELIVERY DATE: 04/25/2023
FIRM ORG FIRM NAME ISSUED STOPPED

118 C MACQUARIE FUT 73
323 C HSBC 15
435 H SCOTIA CAPITAL 3
523 H INTERACTIVE BRO 1
624 C BOFA SECURITIES 1
661 C JP MORGAN 18 17
685 C RJ OBRIEN 1
726 C CUNNINGHAM COM 1
737 C ADVANTAGE 30 6
880 H CITIGROUP 40
905 C ADM 1
991 H CME 5

TOTAL: 106 106
MONTH TO DATE: 23,657

JPMorgan stopped 18/106 contracts

GOLD: NUMBER OF NOTICES FILED FOR APRIL/2023. CONTRACT: 106 NOTICES FOR 10600 OZ or 0.3297 TONNES

total notices so far: 23,657 contracts for 2,365,700 oz (73.583 tonnes)

SILVER NOTICES: 11 NOTICE(S) FILED FOR 55 OZ/

total number of notices filed so far this month : 385 for 1,925,000 oz

END

GLD

WITH GOLD UP $9.45

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

/HUGE CHANGES IN GOLD INVENTORY AT THE GLD://////A WITHDRAWAL OF 2.89 TONNES OF GOLD FROM THE GLD..

INVENTORY RESTS AT 923.68 TONNES

Silver//

WITH NO SILVER AROUND AND SILVER UP 22 CENTS

AT THE SLV// HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 0.643 MILLION OZ OF SILVER FROM THE SLV.//: INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

CLOSING INVENTORY: 463,440 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A GOOD SIZED 327 CONTRACTS TO 157,068 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS GOOD SIZED GAIN IN COMEX OI WAS ACCOMPLISHED DESPITE OUR $0.29 LOSS IN SILVER PRICING AT THE COMEX ON FRIDAY. WE HAVE THIS YEAR SET ANOTHER RECORD LOW AT 117,395 CONTRACTS ///MARCH 29.2023. OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.29). BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPEC LONGS AS WE HAD A HUGE GAIN ON OUR TWO EXCHANGES OF 673 CONTRACTS. WE HAD 0 CRIMINAL NOTICES FILED IN THE CATEGORY OF EXCHANGE FOR RISK TRANSFER FOR 0 MILLION OZ// ( THE TOTAL ISSUED IN THIS CATEGORY SO FAR THIS MONTH TOTAL 35.83 MILLION OZ.) WE HAVE FINISHED WITH OUR SPECS BEING SHORT AS THEY COVERED WITH THE RISE IN PRICE IN JANUARY . WE HAVE NOW RETURNED TO OUR USUAL AND CUSTOMARY SCENARIO: BANKERS SHORT AND SPECS LONG.

WE MUST HAVE HAD:
A GOOD ISSUANCE OF EXCHANGE FOR PHYSICALS( 346 CONTRACTS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 1.055 MILLION OZ(FIRST DAY NOTICE)+ THE 35.83 MILLION OZ OF EXCHANGE FOR RISK/+ 1.945 MILLION OZ NORMAL SILVER STANDING FOR APRIL///THUS TOTAL NEW STANDING 37.775 MILLION OZ/ //// V) GOOD SIZED COMEX OI GAIN/ GOOD SIZED EFP ISSUANCE/.

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL –52 CONTRACTS

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

TOTAL CONTRACTS for 15 days, total 18,728 contracts: OR 93.640 MILLION OZ . (1240 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 93.640 MILLION OZ

LAST 23 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/// 53.070 MILLION OZ //FINAL

FEB: 2023: 100.105/ MILLION OZ/FINAL//MUCH STRONGER ISSUANCE VS THE LATTER TWO MONTHS.

MARCH 2023: 112.58 MILLION OZ//FINAL//STRONG ISSUANCE BUT BELOW LAST MONTH

APRIL 93.640 MILLION OZ(SLIGHTLY LESS STRONG THAN LAST MONTH)

RESULT: WE HAD A GOOD SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 327 CONTRACTS DESPITE OUR $0.29 LOSS IN SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A GOOD SIZED EFP ISSUANCE CONTRACTS: 346 CONTRACTS ISSUED FOR MAY 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 APRIL OF 1.055 MILLION OZ//FIRST DAY NOTICE// 40,000 OZ E.F.P. JUMP TO LONDON (WHICH DECREASES THE AMOUNT OF SILVER STANDING) + 0 MILLION NEW EXCHANGE FOR RISK TODAY (XXX THE AMOUNT OF SILVER STANDING) //NEW EXCHANGE FOR RISK STANDING 35.83 MILLION OZ, THUS TOTAL SILVER OZ STANDING FOR DELIVERY IN APRIL TOTALS 37.775 MILLION .. WE HAVE A STRONG SIZED GAIN OF 673 OI CONTRACTS ON THE TWO EXCHANGES

WE HAD 11 NOTICE(S) FILED TODAY FOR 55,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A GOOD SIZED 5676 CONTRACTS TO 472,803 AND CLOSER TO 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: REMOVE 238 CONTRACTS

WE HAD A GOOD SIZED DECREASE IN COMEX OI ( 5676 CONTRACTS) WITH OUR $27.80 LOSS IN PRICE. WE ALSO HAD A STRONG INITIAL STANDING IN GOLD TONNAGE FOR APR. AT 66.892 TONNES ON FIRST DAY NOTICE // PLUS A 7,100 OZ QUEUE. JUMP :(QUEUE JUMPING = EXERCISING LONDON BASED EFP’S, ATTACHED TO COMEX CONTRACTS ) (EFP is the transfer of COMEX contracts immediately to London for potential gold deliveries originating from London)YET ALL OF..THIS HAPPENED WITH OUR $27.80 LOSS IN PRICE WITH RESPECT TO FRIDAY’S TRADING.WE HAD A FAIR SIZED LOSS OF 3,638 OI CONTRACTS (11.315 PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2438 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 473,741

IN ESSENCE WE HAVE A FAIR SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3,000 CONTRACTS WITH 5438 CONTRACTS DECREASED AT THE COMEX AND 2438 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 3,000 CONTRACTS OR 9.3312 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2038 CONTRACTS) ACCOMPANYING THE GOOD SIZED LOSS IN COMEX OI (5676 //TOTAL LOSS IN THE TWO EXCHANGES 3,678 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR NORMAL FORMAT OF BANKERS GOING SHORT AND SPECULATORS GOING LONG ,2.) GOOD INITIAL STANDING AT THE GOLD COMEX FOR APRIL. AT 66.892 TONNES FOLLOWED BY TODAY’S QUEUE JUMP OF 7100 OZ//NEW STANDING 74.553 TONNES // ///3) SOME LONG LIQUIDATION//4) GOOD SIZED COMEX OPEN INTEREST LOSS/ 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER/

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023 INCLUDING TODAY

APRIL

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

TOTAL EFP CONTRACTS ISSUED: 47,420 CONTRACTS OR 4,742,000 OZ OR 147.49 TONNES IN 15 TRADING DAY(S) AND THUS AVERAGING: 3161 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 15 TRADING DAY(S) IN TONNES 147.49 TONNES

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

THUS EFP TRANSFERS REPRESENTS 147.49/3550 x 100% TONNES 4.14% 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: 228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!

FEB: 151.61 TONNES/FINAL

MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)

APRIL: 147,49 TONNES ( MUCH SMALLER THAN LAST 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 APRIL. WE ARE NOW INTO THE SPREADING OPERATION OF 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 MAR HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF APRIL., 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 GOOD SIZED 327 CONTRACTS OI TO 157,068 AND FURTHER FROM OUR COMEX HIGH RECORD //244,710(SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 5 YEARS AGO. HOWEVER WE HAVE SET A NEW RECORD LOW OF 117,395 CONTRACTS MARCH 27/2022

EFP ISSUANCE 346 CONTRACTS

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

MAY 501 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 346 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 327 CONTRACTS AND ADD TO THE 346 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A STRONG GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 673 CONTRACTS.

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 3.365 MILLION OZ (EX EXCHANGE FOR RISK)

OCCURRED WITH OUR $0.29 LOSS IN PRICE ….. OUR SPEC SHORTS HAVE NOWHERE TO HIDE!

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES

(Peter Schiff)

c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens

ii a) Chris Powell of GATA provides to us very important physical commentaries

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

MONDAY MORNING//SUNDAY NIGHT

SHANGHAI CLOSED DOWN 25.84 PTS OR 0.78% //Hang Seng CLOSED DOWN 115.79 POINTS OR 0.58% /The Nikkei closed UP 29.15 PTS OR 0.10% //Australia’s all ordinaries CLOSED DOWN 0.14 % /Chinese yuan (ONSHORE) closed DOWN TO 6.8929/OFFSHORE CHINESE YUAN UP TO 6.8994 /Oil UP TO 77.71 dollars per barrel for WTI and BRENT AT 81.44 / Stocks in Europe OPENED MOSTLY MIXED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

a)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/

OUTLINE

3 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

9. USA

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A GOOD SIZED 5676 CONTRACTS DOWN TO 472,803 WITH OUR STRONG LOSS IN PRICE OF $27.80 ON FRIDAY,

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS 2038 EFP CONTRACTS WERE ISSUED: : JUNE 2038 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2038 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 3638 CONTRACTS IN THAT 2438 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A GOOD SIZED LOSS OF 5676 COMEX CONTRACTS..AND THIS FAIR SIZED LOSS ON OUR TWO EXCHANGES HAPPENED WITH OUR LOSS IN PRICE OF $27.80. WE ARE NOW WITNESSING THE BANKERS GOING NET SHORT AND THE SPECS GOING NET LONG.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: APRIL (74.553) ( ACTIVE MONTH)

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 YEAR 656.076 TONNES)

2003:

JAN/2023: 20.559 tonnes

FEB 2023: 47.744 tonnes

MAR: 19.0637 TONNES

APRIL: 74.553 tonnes

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL $27.80) //// AND WERE UNSUCCESSFUL IN KNOCKING SOME SPECULATOR LONGS AS WE HAD OUR FAIR SIZED LOSS OF 3,638 CONTRACTS ON OUR TWO EXCHANGES

WE HAVE LOST A TOTAL OI OF 11.315 PAPER TONNES OF TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR APRIL. (66.892 TONNES) FOLLOWED BY TODAY’S QUEUE JUMP OF 7,100 OZ… ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $27.80

WE HAD -238 REMOVED CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST AFTER TRADING ENDED LAST NIGHT

NET LOSS ON THE TWO EXCHANGES 3,638 CONTRACTS OR 300,000 OZ OR 9.3312 TONNES.

Estimated gold comex today 137,311 poor

final gold volumes/yesterday 216,816 fair/raid

//APRIL 24/ APRIL 2023 CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	192.906 oz 6 kilobars Brinks .
Deposit to the Dealer* Inventory in oz*	nil OZ
Deposits to the Customer* Inventory, in oz*	0.Oz
No of oz served (contracts) today	106 notice(s) 10,600 OZ 0.3297 TONNES
No of oz to be served (notices)	312 contracts 31200 oz 0.9704 TONNES
Total monthly oz gold served (contracts) so far this month	23,657 notices 2,365,700 OZ 73.583 TONNES
Total accumulative withdrawals of gold from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of gold from the Customer* inventory this month*	x

i)Dealer deposits: 0

total dealer deposit: nil oz

No dealer withdrawals

Customer deposits: 0

total deposits: nil oz

customer withdrawals: 1

i) Out of Brinks: 192.906 oz

total withdrawals: 192.906 oz

Adjustments; 1

i) dealer to customer//Manfra 3182.949 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR APRIL.

For the front month of APRIL we have an oi of 418 contracts having LOST 35 contracts. We had 106 contracts served ON FRIDAY so we GAINED 71 contracts or AN ADDITIONAL 71,000 oz will stand at the comex.

May LOST 94 contracts up to 1738.

June LOST 6786 contracts DOWN to 389,022 contracts.

We had 106 contracts filed for today representing 10,600 oz

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 18 notices were issued from their client or customer account. The total of all issuance by all participants equate to 106 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 17 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 APRIL /2023. contract month,

we take the total number of notices filed so far for the month (23,657 x 100 oz ), to which we add the difference between the open interest for the front month of (APRIL. 418 CONTRACTS) minus the number of notices served upon today 106 x 100 oz per contract equals 2,396,900 OZ OR 74.553 TONNES the number of TONNES standing in this active month of APRIL.

thus the INITIAL standings for gold for the APRIL contract month: No of notices filed so far (23,657 x 100 oz)+ xxx OI for the front month minus the number of notices served upon today (106)x 100 oz} which equals 2,396,900 oz standing OR 74.553 TONNES in this active delivery month of APRIL..

TOTAL COMEX GOLD STANDING: 74.553 TONNES WHICH IS HUGE FOR AN ACTIVE DELIVERY MONTH.

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COMEX GOLD INVENTORIES/CLASSIFICATION

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: 1,703,295.912 OZ 52,97 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 22,180,669,458 OZ

TOTAL REGISTERED GOLD: 12,305,368,041 (382.748 tonnes)..

TOTAL OF ALL ELIGIBLE GOLD: 9,875,301.017 O Z

REGISTERED GOLD THAT CAN BE SERVED UPON: 10,602,073 OZ (REG GOLD- PLEDGED GOLD) 329.768 tonnes//

END

SILVER/COMEX

APRIL 24//2023// THE APRIL 2023 SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	2,224,983.504 oz Brinks CNT International Delaware JPmorgan .
Deposits to the Dealer* Inventory*	nil
Deposits to the Customer Inventory	62,970.733 oz Delaware
No of oz served today (contracts)	11 CONTRACT(S) (55,000 OZ)
No of oz to be served (notices)	4 contracts (20,000 oz)
Total monthly oz silver served (contracts)	385 Contracts (1,925,000 oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

i) 0 dealer deposit

total dealer deposits: nil oz

i) We had 0 dealer withdrawal

total dealer withdrawals: oz

We have 1 deposits into the customer account

i)Into Delaware 62,970.733

Total deposits: 62,970.733 oz

JPMorgan has a total silver weight: 141.074 million oz/271.604 million =51.91% of comex .//dropping fast

Comex withdrawals: 4

i) Out of CNT 1,1159,896.114 oz

ii) Out of Brinks: 401,845.800 oz

iii) Out of Int. Delaware 68,588.790 oz

iv) Out of jPMorgan; 599,753.100 oz

Total withdrawals; 2,224,983.804 oz

adjustments: 0/

the silver comex is in stress!

TOTAL REGISTERED SILVER: 30.629 MILLION OZ (declining rapidly).TOTAL REG + ELIGIBLE. 273.680 million oz

CALCULATION OF SILVER OZ STANDING FOR MAR

silver open interest data:

FRONT MONTH OF APRIL /2023 OI: 15 CONTRACTS HAVING LOST 8 CONTRACT(S). WE HAD 0 NOTICES FILED ON FRIDAY SO WE LOST 8 CONTRACTS OR AN ADDITIONAL 20,000 OZ WILL NOT STAND FOR DELIVERY IN THIS NON ACTIVE DELIVERY MONTH OF APRIL AS THEY WERE E.F.P.’d TO LONDON.

MAY SAW A LOSS OF 6459 CONTRACTS DOWN TO 44,821

JUNE HAD A 3 CONTRACTS GAIN TO 542

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 11 for 55,000 oz

Comex volumes// est. volume today 86,450 very strong

Comex volume: confirmed yesterday: 83,151 very strong

To calculate the number of silver ounces that will stand for delivery in APRIL. we take the total number of notices filed for the month so far at 385 x 5,000 oz = 1,925,000 oz

to which we add the difference between the open interest for the front month of APRIL(xx) and the number of notices served upon today 11 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the APRIL/2023 contract month: 385 (notices served so far) x 5000 oz + OI for the front month of APRIL (15) – number of notices served upon today (11 )x 500 oz of silver standing for the APRIL. contract month equates to 1.945 million oz +/ NEW EXCHANGE FOR RISK TODAY: 0 MILLION OZ //NEW TOTALS EXCHANGE FOR RISK FOR MONTH OF APRIL: 35.83 MILLION OZ// THUS TOTAL SILVER OZ STANDING: 37.775 MILLION OZ//

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

END

GLD AND SLV INVENTORY LEVELS

APRIL 24/WITH GOLD UP $9.40 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.89 TONNES OF GOLD FROM THE GLD/////INVENTORY RESTS AT 923.68 TONNES

APRIL 21/WITH GOLD DOWN $27.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 926.57 TONNES

APRIL 20/WITH GOLD UP $12.70: HUGE CHANGES TODAY IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .87 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 926.57 TONNES

APRIL 19//WITH GOLD DOWN $12.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 925.70 TONNES

APRIL 18/WITH GOLD UP $12.15 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.03 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 925.70 TONNES/

APRIL 17/WITH GOLD DOWN $7.15 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.89 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 927.72 TONNES

APRIL 14/WITH GOLD DOWN $38.90 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.47 TONNES OF GOLD FROM THE GLD///INVENTORY RESTS AT 930.61 TONNES

APRIL 13/WITH GOLD UP$31.70 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.17 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 934.08 TONNES

APRIL 11/WITH GOLD UP $14.30 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 903.91 TONNES

APRIL 10/WITH GOLD DOWN $21.40 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 930.91 TONNES

APRIL 6//WITH GOLD DOWN $9.15 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 930.91

APRIL 5//WITH GOLD UP 0 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 930.04

APRIL 4/WITH GOLD UP $36.30 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 2.02 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 930.04 TONNES

APRIL 3/WITH GOLD UP $14.20 TODAY;NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 928.02 TONNES

MARCH 31/WITH GOLD DOWN $10.30 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.44 TONNES FROM THE GLD////INVENTORY RESTS AT 928.02 TONNES

MARCH 30//WITH GOLD UP XX TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD/: A DEPOSIT OF 2.24 TONNES FROM THE GLD/INVENTORY RESTS AT 929.47 TONNES

MARCH 29/WITH GOLD DOWN $4.85 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 4,16 TONNES OF GOLD INTO THE GLD.//INVENTORY RESTS AT 927,23

MARCH 28/WITH GOLD UP $19.50 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .86 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 923.07 TONNES

MARCH 27/WITH GOLD DOWN $28.50 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD/: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD./INVENTORY RESTS AT 923.97 TONNES

MARCH 23/WITH GOLD UP $47.70 TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD//A DEPOSIT 87 TONNES OF GOLD INTO THE GLD// //INVENTORY RESTS AT 925.42 TONNES

MARCH 21/WITH GOLD DOWN $38.70 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: ANOTHER HUGE DEPOSIT OF 3.4 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 924.55 TONNES

MARCH 20//WITH GOLD UP $9.60 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 6.36 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 921.08 TONNES

MARCH 17/WITH GOLD UP $50.50 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 914.72TONNES

MARCH 16/WITH GOLD DOWN $6.95 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.45 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 914.72 TONNES

MARCH 15/THE IDES OF MARCH: WITH GOLD UP $18.75 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 913.27 TONNES

MARCH 14/WITH GOLD DOWN $4.75 TODAY: HUGE CHANGES: A MONSTER DEPOSIT OF 11.85 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 913.27 TONNES

MARCH 13/WITH GOLD UP $48.85 TODAY: VERY STRANGE HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.73 TONNES OF GOLD FROM THE GLD///INVENTORY REST AT 901.42 TONNES

MARCH 10//WITH GOLD UP $31.60 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD; A WITHDRAWAL OF 3.47 TONNES OF GOLD FROM THE GLD//INVENTORY RESTS AT 903.15 TONNES

MARCH 9/WITH GOLD UP $16.50 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 906.62 TONNES

MARCH 8/WITH GOLD DOWN $1.15 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A MASSIVE WITHDRAWAL OF 5.5 TONNES FROM THE GLD////INVENTORY RESTS AT 906.62 TONNES

MARCH 7/WITH GOLD DOWN $33.20 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 912.12 TONNES

MARCH 6/WITH GOLD UP $0.55 TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .57 TONNES FROM THE GLD///INVENTORY RESTS AT 912.12 TONNES

MARCH 3/WITH GOLD UP $14,10 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 912.69 TONNES

MARCH 2/WITH GOLD DOWN $4.00 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.61 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 912.69 TONNES

MARCH 1/WITH GOLD UP $18.90 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.31 TONNES OF GOLD FROM THE GLD///INVENTORY RESTS AT 915.30 TONNES

GLD INVENTORY: 923.68TONNES

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

APRIL 24/WITH SILVER UP 22 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF .643 MILLION OZ FORM THE SLV////INVENTORY RESTS AT 463.440 MILLION OZ/

APRIL 21/WITH SILVER DOWN 29 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 919,000 OZ FROM THE GLD////INVENTORY RESTS AT 464.083 MILLION OZ//

APRIL 20/WITH SILVER UP 2 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.021 MILLION OZ OF SILVER FROM THE SLV////INVENTORY RESTS AT 465.002 MILLION OZ/

APRIL 19/WITH SILVER UP 11 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 467.023 MILLION OZ//

APRIL 18/WITH SILVER UP 18 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.757 MILLION OZ OF SILVER FROM THE SLV////INVENTORY RESTS AT 467.023 MILLION OZ

APRIL 17/WITH SILVER DOWN 33 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.194 MILLION OZ OF SILVER FROM THE SLV///INVENTORY RESTS AT 469.780 MILLION OZ//

APRIL 14/WITH SILVER DOWN 48 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 470.974 MILLION OZ/

APRIL 13/WITH SILVER UP HUGELY BY 48 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.389 MILLION OZ OF SILVER INTO THE SLV////INVENTORY RESTS AT 470.974 MILLION OZ

APRIL 11/WITH SILVER UP 27 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 468.585 MILLION OZ

APRIL 10/WITH SILVER DOWN 17 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 468.585 MILLION OZ

APRIL 6/WITH SILVER UP 2 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV; A DEPOSIT OF 4.643 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 468.585 MILLION OZ//

APRIL 5/WITH SILVER DOWN 4 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 463.942 MILLION OZ

APRIL 4/WITH GOLD UP $1.11 TODAY CRIMINAL CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 1.47 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 463,942 MILLION OZ

APRIL 1/WITH SILVER DOWN 14 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 465.412

MARCH 31/WITH SILVER UP 14 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE GLD/: A MASSIVE 4.779 MILLION OZ DEPOSITED INTO THE SLV///INVENTORY RESTS AT465.412 MILLION OZ

MARCH 30/WITH SILVER UP XX CENTS TODAY;HUGE CHANGES IN SILVER INVENTORY AT THE SLV.: A DEPOSIT OF 550,000 OZ INTO THE SLV/.INVENTORY RESTS AT 460.633 MILLION OZ

MARCH 29/WITH SILVER UP 11 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.195 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 460.082

MARCH 28/WITH SILVER UP 28 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 368,000 OZ FORM THE SLV////INVENTORY RESTS AT 458.887 MILLION OZ//

MARCH 27/WITH SILVER DOWN 15 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 230,000 OZ FROM THE SLV///INVENTORY RESTS AT 459.255 MILLION OZ

MARCH 23 WITH SILVER UP 62 TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A SMALL DEPOSIT OF 919,000 0z INTO THE SLV/INVENTORY RESTS AT 459.485 MILLION OZ//

MARCH 21/WITH SILVER DOWN 24 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 781,000 OZ FORM THE SLV////INVENTORY RESTS AT 458.566 MILLION OZ/

MARCH 20./WITH SILVER UP 15 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: ANOTHER MASSIVE WITHDRAWAL OF 3.401 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 459.347 MILLION OZ//

MARCH 17/WITH SILVER UP 79 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A MASSIVE WITHDRAWAL OF 10.478 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 462.748 MILLION OZ//

MARCH 16/WITH SILVER DOWN 25 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 5.009 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 473.226 MILLION OZ//

MARCH 15/WITH SILVER DOWN 7 CENTS TODAY; BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 643,000 OZ INTO THE SLV//INVENTORY RESTS AT 478.235 MILLION OZ/

MARCH 14/WITH SILVER UP 9 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.287 MILLION OZ FROM THE SLV////INVENTORY REST AT 477.592 MILLION OZ//

MARCH 13/WITH SILVER UP $1.35 : NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 478.879 MILLION OZ//

MARCH 10.WITH SILVER UP 36 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 478.879 MILLION OZ…

MARCH 9/WITH SILVER UP 2 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.195 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 478.979 MILLION OZ

MARCH 8/WITH SILVER DOWN 6 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 459,000 OZ FROM THE SLV///INVENTORY RESTS AT 477.684 MILLION OZ

MARCH 7/WITH SILVER DOWN 88 CENTS TODAY;HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 920,000 OZ FROM THE SLV/////INVENTORY RESTS AT 478.143 MILLION OZ

MARCH 6/WITH SILVER DOWN 13 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 479.063 MILLION OZ//

MARCH 3/WITH SILVER UP 67 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.369 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 479.063 MILLION OZ//

MARCH 2/WITH SILVER DOWN $.16 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 920,00 OZ OF SILVER FROM THE SLV////INVENTORY RESTS AT 477.694 MILLION OZ

MARCH 1/WITH SILVER UP 4 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.574 MILLION OZ OF SILVER FROM THE SLV////INVENTORY RESTS AT 478.614 MILLION OZ.

CLOSING INVENTORY 463.440 MILLION OZ//

PHYSICAL GOLD/SILVER STORIES

1:Peter Schiff

end

2 Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens//JAMES RICKARDS//

END

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

Ted Butler: Goofy conclusions from the Silver Institute

Submitted by admin on Fri, 2023-04-21 20:05Section: Daily Dispatches

By Ted Butler
SiverSeek.com
Friday, April 21, 2023

Hot off the press is this week’s just-released world annual silver survey from the Silver Institute. As previewed a couple of months back, the institute is reporting flat total supply (mining plus recycling) and sharply increased demand growth of 18% or 186 million ounces, resulting in the highest silver deficit in modern times of 237 million ounces.

The survey —

Click to access World-Silver-Survey-2023.pdf

—

goes on to (try to) explain that despite the axiom of the law of supply and demand that more demand than supply (by a large margin) must result in higher prices, silver prices were lower on average over 2022 than the year before.

The Silver Institute’s (Metals Focus’) pithy explanation for something that should be impossible under the free law of supply and demand — namely, prices moving lower when demand is greater than supply — was “institutional activity” in silver.

Isn’t that just marvelous? I suppose “institutional activity” sounds a lot more dignified and proper than blatant price manipulation. …

… For the remainder of the analysis:

https://silverseek.com/article/goofy-conclusions-silver-institut

end

4. OTHER GOLD/SILVER RELATED COMMENTARIES/

Central bank demand is defeating U.S. gold price suppression policy, Maguire says

Submitted by admin on Sat, 2023-04-22 10:05Section: Daily Dispatches10:03a Saturday, April 22, 2023

Dear Friend of GATA and Gold:

London metals trader Andrew Maguire, in his weekly discussion with Shane Morand on Kinesis Money’s “Live from the Vault” program, details how U.S. gold price suppression policy is failing amid heavy demand for real metal from central banks, which is driving the price up in stair-like steps toward an official revaluation.

The program is 44 minutes long and can be viewed at YouTube here:

https://www.youtube.com/watch?v=6vfrPo_E99Y

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.orgENDJesse Felder/the FelderReport.com

Why Gold May Be On The Cusp Of Another Major Bull Market

MONDAY, APR 24, 2023 – 06:30 AMAuthored by Jesse Felder via TheFelderReport.com,Last week, the Treasury Department revealed that the federal deficit hit $1.1 trillion in the first half of the fiscal year ending in March, $432 billion larger than the same period a year earlier.Moreover, most of this expansion came in the month of March, as spending rose 36% year-over-year (not in small part due to rapidly rising interest costs). Longer-term, there is a clear widening trend that began back in 2015 that appears to now have resumed after some pandemic-inspired gyrations. And, if history is any guide, this deteriorating fiscal trend should represent a structurally bearish influence for the dollar in the months and years to come.Moreover, if history is any guide, the best protection against a deteriorating fiscal situation (mathematically guaranteed by rapidly growing social security and medicare spending) is gold.The last time the deficit reversed from a narrowing trend and began a major widening trend, back in the early-2000’s, it coincided with a major top in the dollar index which evolved into a major bear market for the greenback (inverted in the chart below) that lasted roughly a decade.This was one of the primary catalysts for a major bull market in the price of gold which rose from a low of $250 in 2001 to a high of nearly $2,000 a decade later.Currently, investors have little to no interest in owning gold (which is a bullish contrarian sign in my book).As my friend Callum Thomas recently pointed out, assets in gold ETFs like GLD are a tiny fraction of those invested in equity ETFs like SPY.However, there’s a good chance that the deteriorating fiscal situation will over time light a fire under investor appetites for precious metals relative to financial assets, just as it did two decades ago.And that’s exactly the sort of thing that could power another major bull market for the precious metal.Got gold?

END

5.IMPORTANT COMMENTARIES ON COMMODITIES: LITHIUM

Why China wants Lithium and how they are intent on controlling the world’s supply

(Upadhayaya/EpochTimes)

The Real Reason Behind China’s $10 Billion Offer To Taliban For Lithium

SATURDAY, APR 22, 2023 – 04:30 PM

Authored by Venus Upadhayaya via The Epoch Times (emphasis ours),

A Chinese company has offered the Taliban $10 billion and a proposal to build key strategic infrastructure connecting north-south Afghanistan in exchange for access to the country’s lithium reserves. Some experts raised concerns that the offer would allow the Chinese regime to expand its influence in the region.Afghanistan’s acting first deputy prime minister Abdul Ghani Baradar (L) and China’s ambassador to Afghanistan Wang Yu in Kabul on Jan. 5, 2023. (Ahmad Sahel Arman/AFP via Getty Images)

The proposal was discussed between a representative of Gochin and the acting minister of the Taliban’s Ministry of Mines and Petroleum, Sheikh Hadith Shahabuddin Delawar, in his office on April 13. The talks happened just a few months after the Taliban arrested two Chinese nationals trying to smuggle 1,000 metric tons of lithium-bearing rocks out of the country.

Experts said it needs to be seen if the deal is feasible, but once signed, it will have diplomatic and political ramifications, and the proposed infrastructure development will likely have a long-term strategic impact.

“Geopolitically, this deal could give China a significant advantage and influence in the region, as it secures a supply of critical resources and strengthens its presence in Afghanistan,” Maher Saadat, an exiled activist and Afghan affairs analyst, told The Epoch Times in an email.

Afghanistan’s lithium reserves potentially rival those of Bolivia, which has the world’s most significant amount of lithium resources. The Taliban’s Ministry of Mines and Petroleum said in a press release that the deal, once executed, will provide direct employment to 120,000 people and indirectly to 1 million.

Abhishek Darbey, a research associate of the Chinese Research Program at the New Delhi-based Center for China Analysis and Strategy (CCAS), pointed out to The Epoch Times in an email that China is among the first countries that supported the Taliban to form a government in Kabul following the withdrawal of the United States from the country. He believes the Chinese regime wants to control the region.

“In the case of Afghanistan, the country is important for China because the land domain of the Belt and Road Initiative will pass through this region, and a peaceful Afghanistan will create favorable conditions for the BRI to grow and progress,” he said.

“Also, China considers itself to be a major power of the region and, therefore, it wants to be a participant in [the] decision-making of the region or wants to be a power with a capacity to influence the regional politics,” he added.Chinese Foreign Minister Wang Yi meets with Mullah Abdul Ghani Baradar, political chief of Afghanistan’s Taliban, in Tianjin, China, on July 28, 2021. (Li Ran/Xinhua via Reuters)

Lithium for the Taliban

Afghanistan’s lithium reserves are a quick source of money for the Taliban, but they don’t have a long-term strategic goal for it, according to the experts.

“They may view it as an opportunity to generate immediate revenue to fund their activities and consolidate their power, given their history of relying on various sources of illicit financings, such as drug trafficking and extortion,” Saadat said.

The Taliban’s focus on immediate financial gains—without considering the long-term implications and sustainable development of the lithium deposits—is likely to limit the potential benefits of the reserves for Afghanistan and its people, he said.

“[It] will not contribute to the overall socio-economic development and stability of the country with certainty,” he said.

The first lithium mine was discovered in Ghazni city in 2013. These rare mineral mines are located in five areas in Afghanistan: Herat, Shuryak Valley, Tagab District in Kapisa Province, Nawur District in Ghazni Province, and Badakhshan.

Darbey said the Chinese interest in the region is not new—in 2021, two Chinese companies were sent to Ghazni to conduct technical research and inspect lithium and goldmines.

While China’s lithium reserves are depleting, the Afghan deposits are unexploited. Five Chinese companies have set up their representative offices in Afghanistan, and around 20 Chinese companies have made inquiries about lithium projects, according to Darbey.

Delawar said that the contract of the mines in Afghanistan would be given according to the Taliban’s law.

Darbey pointed out that the Taliban government is already supporting Chinese investment in its wider mining sector, and China’s two largest lithium miners—Tianqi and Ganfeng—have already examined the lithium mines in Afghanistan.

Read more here…

end

GLOBAL COMMODITIES ISSUES/FOOD IN GENERAL

6.CRYPTOCURRENCY COMMENTARIES/

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

ONSHORE YUAN: CLOSED UP TO 6.8929

OFFSHORE YUAN: 6.8994

SHANGHAI CLOSED DOWN 29.15 POINTS OR 0.78%

HANG SENG CLOSED DOWN 115.79 PTS OR 0.58%

2. Nikkei closed UP 29.15 PTS OR 0.10%

3. Europe stocks SO FAR: MOSTLY MIXED

USA dollar INDEX UP TO 101.41 EURO RISES TO 1.1005 UP 35 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.4640Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 134.64 /JAPANESE YEN FALLING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK

3c Nikkei now ABOVE 17,000

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

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

3f Japan is to buy 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 +2.4850***/Italian 10 Yr bond yield RISES to 4.348*** /SPAIN 10 YR BOND YIELD RISES TO 3.513…** DANGEROUS//

3i Greek 10 year bond yield FALLS TO 4.239

3j Gold at $1983.15 silver at: 25.06 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 42 /100 roubles/dollar; ROUBLE AT 81.78//

3m oil into the 77 dollar handle for WTI and 81 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 134.64 10 YEAR YIELD AFTER BREAKING .54%, RISES TO .4640% STILL 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 0.8898 as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9793 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: 3.538 DOWN 4 BASIS PTS…GETTING DANGEROUS//

USA 30 YR BOND YIELD: 3.751 DOWN 3 BASIS PTS/

USA 2 YR BOND YIELD: 4.1671 DOWN 2 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 19.41…

GREAT BRITAIN/10 YEAR YIELD: UP 4 BASIS PTS AT 3.7990

end

2. Overnight: Newsquawk and Zero hedge:

2. a)FIRST, ZEROHEDGE (PRE USA OPENING// MORNING

Futures Violently Unchanged As Busiest Week Of Earnings Season Begins

MONDAY, APR 24, 2023 – 08:10 AM

In what is shaping up as yet another unchanged open, futures are set up to open violently unchanged after earlier sliding as much as 0.6% following lackluster sentiment in Asia, but a reversal during European trading. Investors are bracing for a barrage of earnings ahead of the busiest reporting weak in Q1 earnings season which sees the likes of MSFT, GOOGL, Meta, AMZN and XOM all set to report amid rising interest rates and economic slowdown worries. S&P 500 contracts fell as much as 0.6% before paring the drop to unchanged as of 7:30 a.m. ET while futures for the tech-heavy Nasdaq 100 benchmark were 0.1% lower.

In premarket trading, Bed Bath & Beyond sank as much as 52% after the home-goods retailer filed for Chapter 11 bankruptcy with plans to liquidate and wind down by the end of June. BuzzFeed fell 6% in US premarket trading, extending a 30% drop last week triggered by the company’s move to shut its news operation. The now defunct Credit Suisse reported $69 billion outflows in the first quarter and a large writedown at its wealth management unit. Coca-Cola is due to report results before the market opens, while Whirlpool and First Republic Bank will update this afternoon. Here are some other notable premarket movers:

Crinetics Pharmaceuticals is initiated with an overweight rating at Piper Sandler, with the broker saying that the disease acromegaly could be a potential blockbuster market opportunity for the biotech.
Tremor has been downgraded to hold at Stifel, which says it would like to see the digital advertising firm spending more on research and development to keep up with larger platforms. The brokerage also cut its rating on sector peer Perion to hold from buy.

Investors are bracing for a slew of economic data and big-tech earnings for insights into the damage from higher borrowing costs and slowing economy. Leveraged investors boosted net short positions on 10-year Treasury futures to a record 1.29 million contracts as of April 18, data from the Commodity Futures Trading Commission show. That’s an indication they think the Federal Reserve will keep raising rates to tackle inflation.

A “mild recession” is likely in the US and that’s a reason to be more selective in the equity space, according to Laura Cooper, a senior investment strategist at BlackRock. “We think earnings estimates for the back half of the year in the US remain too optimistic,” she said. “We suspect that a lot of the rate cuts priced in toward the end of the year for the Fed have scope to be priced out.”

Swaps markets continue to see Fed rates peaking in coming weeks before a series of cuts later this year. US GDP data is forecast to reveal slowing growth, while the so-called core PCE deflator, the central bank’s preferred inflation gauge, is expected to show price growth cooled.

“We should take the Fed at face value when they say rates are not going lower this year,” said Kieran Calder, head of equity research for Asia at Union Bancaire Privée in Singapore, on Bloomberg Television. “Inflation, especially core inflation, remains really sticky.”

A rally in US stocks leading up to this earnings season presents a near-term risk to equities given the prospect of further Fed rate hikes and fading profit growth, according to Morgan Stanley’s Michael Wilson. “We think this dynamic poses a near-term risk for stock prices given our more pessimistic outlook for earnings this year, especially as the liquidity picture becomes less accommodative,” Wilson wrote in a note on Monday, repeating his now traditional weekly sermon.

European stocks are little changed as investors await another busy week of corporate earnings. The Stoxx 600 is flat with food & beverages, telecoms and energy the worst performing sectors. Here are the biggest European movers:

Philips shares gain as much as 10% after an easing in supply chain snarl-ups helped drive a strong 1Q beat for the Dutch medtech. Morgan Stanley expects consensus estimates to rise after the report.
Software AG shares jump as much as 50% to trade at the €30 level offered by private equity firm Silver Lake Management to acquire the German software company.
Munters shares jump as much as 9.7% as the Swedish ventilation systems company was upgraded to buy at both Carnegie and Jefferies, with the former seeing early signs of improvement.
Casino shares rise as much as 6% after Czech investor Daniel Kretinsky proposed a €1.1 billion equity investment in the French grocer.
Getlink shares advance as much as 4.2% after Goldman Sachs upgraded the transport infrastructure group to buy from neutral on supportive power and carbon-price dynamics.
Dunelm gains as much as 3% after being raised to buy from hold at Stifel, with the broker seeing an attractive medium-term opportunity in the UK homewares retailer.
Wizz Air gains as much as 4.1%, outperforming other airline stocks, after Citi upgraded the stock to neutral, saying investors’ focus for short-haul airlines will shift to costs, where Wizz is showing improvement.
Heineken gains as much as 1.4% after Deutsche Bank raised its price target for the Dutch brewer, saying it offers a “compelling” 10% operating profit growth story for fiscal 2025-2027.
Avanza shares drop as much as 9.9%, with Citi saying net interest income for the Swedish online stockbroker missed expectations.
Elmos Semiconductor falls as much as 7.6% after being downgraded to hold from buy at Hauck & Aufhaeuser, as an expected strong first-quarter report appears to be fully priced into shares.

Earlier in the session, Asian stock markets was modestly lower at the start of the busiest week of the earnings season in the region, with shares in China and South Korea among the biggest decliners. The MSCI Asia Pacific Index fell as much as 0.5%, with tech and materials shares weighing the most on the gauge. Chinese stocks posted their biggest two-day loss this year as geopolitical tensions and signs of an uneven recovery spurred traders to pare exposure ahead of the Golden Week holiday. “One part of the reopening of China that we are concerned about is it’s also a reopening of geopolitical risks,” said Kieran Calder, head of equity research for Asia at Union Bancaire Privee. “Issues like this make it much harder to be outright overweight on China,” he told Bloomberg Television. In contrast, benchmarks in Japan and India climbed. The Nikkei 225 rose past its previous 2023 closing high ahead of new Bank of Japan Governor Kazuo Ueda’s debut policy decision on Friday.

This will be the busiest week in the latest Asian earnings season, with more than 800 companies scheduled to report results, according to data compiled by Bloomberg. China’s largest company Kweichow Moutai, the country’s biggest banks, Korean chipmaker Samsung Electronics and Indonesian ride-hailing firm GoTo Group are among the major companies set to announce earnings. Meanwhile, traders will also keenly watch Big Tech earnings out stateside this week to inform their exposure to the tech sector. “It really is the longer, medium term demand story that we want to get our heads around,” Calder said. The MSCI Asia gauge is down almost 6% from a peak hit in early January, trailing the S&P 500 on a year-to-date basis, as investors assess the outlook for the heavyweight chip sector and a rebound in Chinese consumption. Markets in Indonesia and Malaysia were closed for a holiday

Japanese stocks edged higher in thin trading, as investor sentiment on the global economy was lifted by data showing increased US and European business activity ahead of heavy earnings reporting later this week. The Topix rose 0.1% to close at 2,037.34, while the Nikkei advanced 0.1% to 28,593.52. Daiichi Sankyo contributed the most to the Topix gain, increasing 1.5%. Out of 2,158 stocks in the index, 1,325 rose and 715 fell, while 118 were unchanged. “There is a lack of direction ahead of corporate earnings announcements and the Bank of Japan’s monetary policy meeting coming up,” said Hitoshi Asaoka, a senior strategist at Asset Management One. The new Bank of Japan Governor Kazuo Ueda will hold his first policy meeting later this week. The central bank is planning to review and inspect policies taken over the past decades as soon as this week’s meeting, Sankei newspaper reported Sunday.

Australian stocks edged lower dragged by materials and energy shares as investors assess quarterly production reports. The S&P/ASX 200 index fell 0.1% to 7,322.00. In New Zealand, the S&P/NZX 50 index rose 0.8% to 12,026.39.

Indian markets advanced for the third consecutive session, led by gains in financials as top lenders continued to report earnings in line with consensus estimates. ICICI Bank and IndusInd Bank were the latest to report March quarter numbers that matched analysts’ expectations, helped by robust demand for loans. Still, the lenders face the challenge of raising deposits to match the credit growth. The S&P BSE Sensex rose 0.7% to 60,056.10 in Mumbai, while the NSE Nifty 50 Index advanced 0.7%. The gauges are up an average of 2% each this month and close to erasing their losses for the year.

In FX, The Bloomberg Dollar Spot Index is up 0.1%, reversing an earlier loss. The Swiss franc is the best performer among the G-10 currencies, rising 0.4% versus the greenback. The yen lagged peers. Bank of Japan Governor Kazuo Ueda said at the parliament that the central bank is not at the stage to talk about how to normalize yield curve control. US GDP data is forecast to reveal slowing growth, while the so-called core PCE deflator, the central bank’s preferred inflation gauge, is expected to 0.3% growth on a monthly basis. The Fed is due to decide on its policy rate next week. Data Monday showed Germany’s business outlook unexpectedly improved for a sixth month as the economy gradually recovers from the energy shock. The euro zone probably resumed growth in the first quarter as all four of its biggest economies proved resilient enough to shake off the fallout from war on the region’s frontier.

Treasuries have added to gains seen during Asian trading hours with 10-year yields down 4bps at 3.54%. German 10-year yields are flat while the UK equivalent rises 2bps.

In commodities, crude futures decline with WTI down 0.3% to trade near $77.60. Spot gold gains 0.1% to around $1,985.

Bitcoin is unchanged on the session, towards the lower-end of USD 27.99-27.14k parameters with pertinent macro updates somewhat limited in the European morning.

Finally, turning to commodity markets. After four consecutive weeks of gains, crude oil retreated as data releases earlier in the week highlighted growing headwinds for the US economy. WTI crude fell -5.63% week-on-week, although regained ground on Friday following the PMI beat, climbing +0.75% to $77.87/bbl. Similarly, Brent crude broke its streak to finish down -5.39% week-on-week (+0.69% on Friday) to $81.66/bbl.

On today’s calendar, we get the April Dallas Fed manufacturing activity, and March Chicago Fed national activity index, Germany April ifo survey. A busy week for earnings will include The Cocal Cola Co., First Republic Bank and First Citizens Bank, the acquirer of Silicon Valley Bank. Tech companies will also be in the spotlight with those to report including Microsoft Corp., Meta Platforms Inc. and Amazon.com Inc.

Market Snapshot

S&P 500 futures down 0.1% to 4,153.50
STOXX Europe 600 little changed at 468.62
MXAP down 0.2% to 160.83
MXAPJ down 0.4% to 516.19
Nikkei up 0.1% to 28,593.52
Topix up 0.1% to 2,037.34
Hang Seng Index down 0.6% to 19,959.94
Shanghai Composite down 0.8% to 3,275.41
Sensex up 0.5% to 59,957.80
Australia S&P/ASX 200 down 0.1% to 7,321.99
Kospi down 0.8% to 2,523.50
German 10Y yield little changed at 2.47%
Euro little changed at $1.0992
Brent Futures down 0.2% to $81.50/bbl
Brent Futures down 0.2% to $81.49/bbl
Gold spot down 0.1% to $1,981.82
U.S. Dollar Index little changed at 101.74

Top overnight News from Bloomberg

Growing concerns that China may be facing a new Covid wave fueled a surge in shares of the nation’s drugmakers Monday as the public fretted over waning immunity. Xinxiang Tuoxin Pharmaceutical Co. jumped as much as 20% in Shenzhen, while Hybio Pharmaceutical Co. rallied 15%. BBG
Chinese consumers continue to demonstrate a willingness to spend money, w/travel bookings for the May Day holiday exceeding pre-pandemic levels. SCMP
Ukraine’s state energy company, Naftogaz, is holding talks w/US energy firms like Exxon, Chevron, and Halliburton about dramatically ramping gas production as the country aims to replace Russia as the primary supplier into Europe. FT
Former Russian president Dmitry Medvedev said on Sunday that if the G7 moved to ban exports to Russia, Moscow would respond by terminating the Black Sea Grain deal that enables vital exports of grain from Ukraine. RTRS
ECB’s Pierre Wunsch warns that markets are underestimating how high rates will rise in the Eurozone (he said the tightening process will only stop once wage growth begins to fall). FT
Fed’s index of common inflation expectations fell in Q1 to the lowest level in nearly two years, the latest example of disinflationary forces building throughout the economy. BBG
The GOP is more serious than people realize about allowing a debt ceiling breach to occur. McCarthy won’t have enough support within the House GOP caucus to pass his debt ceiling bill in the coming week. WaPo / BBG
Bed Bath & Beyond filed for Chapter 11 bankruptcy and said it would eventually close all its 360 Bed Bath & Beyond and 120 Buybuy Baby locations. WSJ
Moody’s downgraded 11 regional lenders, suggesting higher interest rates and recent bank failures have ushered in greater instability. The downgrades hit lenders including U.S. Bancorp, Zions Bancorp, Bank of Hawaii, Western Alliance Bancorp, First Republic Bank, Associated Banc-Corp., Comerica Inc., First Hawaiian Inc., Intrust Financial Corp, Washington Federal Inc. and UMB Financial Corp. WSJ
Homebuilders appear to offer a particularly poor risk/reward. Homebuilding fundamentals have inflected higher from low levels in recent months. The NAHB Homebuilder Index has rebounded from its trough level of 31 in December to 45 in April. Housing starts and building permits have also increased from trough levels. Building material costs, which were a headwind to homebuilders in 2020- 21, have also declined. However, the equity market has already priced an improvement, and GS mortgage strategists forecast that residential mortgage rates – a key variable in housing demand – will finish the year at 6.5%, suggesting valuation downside risks for the group

A more detailed market snapshot courtesy of Newsquawk

APAC stocks were mixed after the lack of macro drivers over the weekend and as participants brace for this week’s key events including big US tech earnings and the first BoJ meeting under Governor Ueda’s leadership. ASX 200 was lacklustre as gains in tech and defensives were offset by underperformance in the mining-related industries with notable losses in Fortescue Metals and South32 after weaker quarterly output updates. Nikkei 225 eked slight gains after source reports that the BoJ is likely to maintain ultra-loose monetary policy and dovish guidance, while it was also reported the BoJ is considering a comprehensive review of the impact of the monetary easing taken over the longer term and are planning to examine a quarter century of deflation. Hang Seng and Shanghai Comp were subdued despite the PBoC’s liquidity efforts and the announcement of policies to support trade by China’s Vice Commerce Minister who also noted that uncertainty in external demand remains the biggest restraint for China’s trade, while frictions lingered with the US reported to have urged South Korea not to fill China’s shortfalls if Beijing bans Micron chips.

Top Asian News

PBoC injected CNY 89bln via 7-day reverse repos on Sunday with the rate kept at 2.00% and it injected CNY 115bln via 7-day reverse repos with the rate kept at 2.00% on Monday.
PBoC official said China’s yuan has a solid foundation to remain stable and the PBoC will improve the floating exchange rate system based on market demand and supply, according to Reuters. One of China’s “big four” banks plans to cut some personal and corporate rates next week, according to sources; products affected include “call deposits” and “agreement deposits”. Sources said the mechanism asked for a roughly 10bps cut to weighted average term deposit rates in the quarter from a year earlier.
China urges banks to cut deposit rates, according to Reuters sources; message from Chinese regulators is to cut size of structured deposit business, lower rates of “innovative” products;
Chinese Vice Commerce Minister Wang said uncertainty in external demand remains the biggest restraint for China’s trade and said that China will actively satisfy funding demand from small and medium-sized exporters and importers, as well as support firms to explore diversified markets, according to Reuters.
Chinese officials and analysts said deflation concerns are unnecessary despite the slower price growth since the start of the year and noted the economy is on a solid recovery track amid pro-growth policies, according to the State Council.
US urges South Korea not to fill China shortfalls if Beijing bans Micron (MU) chips, according to FT.
BoJ Governor Ueda said the BoJ must maintain monetary easing as trend inflation is still below 2% but added that if it can be foreseen that trend inflation will reach 2%, the BoJ must head towards policy normalisation. Ueda also said that how to revise YCC will depend on various factors such as economic conditions and the pace of inflation at the time and noted that he cannot say now how specifically the BoJ could tweak YCC.
BoJ is considering conducting a comprehensive review of the impact of the monetary easing steps taken over the longer term with the central bank planning to examine a quarter century of deflation and could start discussions as early as this week’s policy meeting, according to a Sankei report which didn’t cite any sources.

European bourses are posting marginal losses in a relatively slow start to the European weak, with mixed Ifo data somewhat overlooked, Euro Stoxx 50 -0.2%. Sectors are mixed and feature outperformance in Financial Services on the back of UBS while Phillips leads the Stoxx 600 after a strong Q1 update. Stateside, futures are pressured but the magnitude of the downside has eased slightly throughout the morning going into a particularly busy US week for earnings and data, ES -0.2%.

Top European News

UK PM Sunak will hold talks with major UK firms and investors on Monday under the new “Business Connect” forum as the government seeks to fill the void following the scandal and implosion of the CBI business lobby, according to Bloomberg and FT.
UK government is set to introduce legislation in the approaching days to set up a new regulator to police the increasing dominance of the large technology platforms, according to FT.
ECB’s Wunsch said they are waiting for wage growth and core inflation to decline, along with headline inflation, before they can arrive at the point where they can pause on rates, according to FT.
German Interior Minister said public workers agreed on a wage deal with employers, according to Reuters.
Germany’s Bundesbank says the economy grew in Q1 above expectations, after a rebound in industrial conditions.
S&P affirmed the UK at AA; Outlook Revised to Stable from Negative, while it affirmed Greece at BB+; Outlook Revised to Positive from Stable and affirmed Italy at BBB; Outlook Stable.

Geopolitics

EU is set to propose banning many goods from transiting through Russia which would be part of the EU’s eleventh sanctions package, according to Bloomberg.
Russian Security Council Deputy Chairman Medvedev warned that Moscow will terminate the grain deal if the G7 moved to ban exports to Russia, according to Reuters.
Russia-installed head of Crimea said air defences had been activated on Saturday although there were no reports of damages or casualties, according to Reuters.
Germany expelled over 20 Russian diplomats, while Moscow called Berlin’s actions “hostile” and will expel at least 20 German diplomats in a tit-for-tat response, according to Russian state news RIA-Novosti.
Baltic states were angered by China’s ambassador to France who questioned the legitimacy of countries formerly in the Soviet Union and are planning to summon Chinese diplomats to complain about the remarks, according to FT.
Chinese Vice Foreign Minister Sun lodged solemn representations with the South Korean ambassador to China about South Korean President Yoon’s ‘erroneous’ Taiwan remarks, according to the Chinese Foreign Ministry cited by Reuters.
China reportedly lashed out against the US-Philippines alliance with the decision by the Philippines to grant the US access to four military bases near Taiwan said to anger Beijing, according to FT. However, it was separately reported that Chinese Foreign Minister Qin Gang said China is ready to work with the Philippines to implement a consensus between the two countries and the Philippines’ Foreign Minister commented that differences in the South China Sea are not the sum total of relations between the two countries, according to Reuters.
US senior administration official said North Korea’s human rights situation is likely to come up at next week’s US-South Korea summit and North Korea is now in many ways much more closely aligned with China than it was before.
US said it is deeply concerned by Azerbaijan establishing a checkpoint on the only land route to the contested Nagorno-Karabakh region, according to Reuters.
US Secretary of State Blinken said US personnel and their dependents were safely evacuated from the embassy in Sudan. Furthermore, UK PM Sunak said British armed forces completed a rapid evacuation of British diplomats and their families, while the German military also conducted an evacuation of German citizens from Sudan.
Turkey’s Defence Minister is planning to meet his Russian, Syrian and Iranian counterparts in Moscow on April 25th, via Anadolu news.
Japan says jet fighters/helicopters took off and landed on the Shandon Chinese carrier within the Pacific Ocean around 280 times between April 17th-23rd.
EU Council President Michel says EU-China policy will be on the June European Council agenda. Earlier in the session, EU Foreign Representative Borrell says they will discuss how to recalibrate China relations.

The Dollar has slipped towards the 101.50 mark from earlier 101.91 best to the mixed fortune of peers.
CHF outperforms with safe-haven demand factoring amid the general risk tone and as attention on the US debt limit increases, USD/CHF at the lower-end of 0.8883-0.8928 parameters.
EUR derived marginal and ultimately fleeting upside on the mixed German Ifo release and is now holding comfortably above the 1.10 mark but with ranges thin thus far while several ECB speakers have not impacted.
Next best is the Kiwi, which is deriving support from AUD/NZD tailwinds rather than the lower RBNZ risk weighting for business growth; NZD above 0.6150 while AUD languishes below 0.67.
PBoC set USD/CNY mid-point at 6.8835 vs exp. 6.8826 (prev. 6.8752)

Fixed Income

Gilts lead a broad retreat in debt ahead of UK public finance data as the 10-year bond retreats through 101.00 within a 101.24-100.70 range.
Bunds off best levels between 134.21-133.68 parameters after a mixed German Ifo survey.
T-note holds firm near 114-24+ overnight peak vs 114-14+ trough ahead of low-key agenda.
GGBs have been lagging periphery peers somewhat, despite the outlook revision to positive at S&P as the rating was maintained as expected but disappointing some outside calls for an upgrade.

Commodities

WTI and Brent are off worst levels but remain softer overall in-line with broader risk sentiment; specifically, WTI is back in proximity to USD 78/bbl while Brent has reclaimed USD 81.50/bbl.
Iran sets the May Iranian light crude price to Asia at Oman/Dubai +USD 2.80bbl (vs. prev. USD 2.50bbl), according to a Reuters source.
Central banks reportedly loaded up on gold amid geopolitical tensions whereby reserve managers’ purchases rose 152% last year, while an annual poll of 83 central banks found that more than two-thirds thought their peers would increase gold holdings this year, according to FT.
Head of Russian Grain Union says the Black Sea grain deal has not brought anything good to Russia so far; Russia could export around 60mln tonnes of grain (inc. 50mln tonnes of wheat) this season.
Spot gold trades horizontally after finding some resistance around USD 1,985/oz overnight, with the yellow metal sandwiched to a USD 10/oz parameter amid a lack of clear catalysts.
Base metals are mostly lower, although LME copper remains cushioned despite the broader subdued mood across markets; ING cites disruption to Codelco’s copper operations.

US Event Calendar

08:30: March Chicago Fed Nat Activity Index, est. -0.20, prior -0.19
10:00: Revisions: Retail Sales, Inventories
10:30: April Dallas Fed Manf. Activity, est. -11.0, prior -15.7

DB’s Jim Reid concludes the overnight wrap

Just when we thought it was safe to venture back fully into normal family life after my daughter Maisie’s 2-year plus hip battle we got a minor setback at the weekend. At the end of last week, she had her first dance class (Street Dance) since being out of her wheelchair and in the warmup got overexcited and bashed her hand into a wall. To cut a long story short, after an A&E visit we found that she’s broken a bone in her wrist. Literally 2 minutes into her first dance class back. Fortunately, it’s a relatively minor break and she can ease back into things after the splint is off in three weeks! I really hope she doesn’t inherit my injury record! Although as I tell my wife most high-performance athletes tend to pick up a lot of injuries.

There’s a bit of everything for investors around the world this week. In the US Q1 GDP, the employment cost index (ECI), core PCE, and consumer confidence are the highlights with us now in the Fed blackout period ahead of next week’s FOMC. Meanwhile, we will see inflation and growth data in the Eurozone, and the BoJ’s decision in Japan on Friday where DB has a non-consensus call (see below). Big tech (14% of S&P in 4 names), pharma and oil earnings will fill out a busy earnings week. Watch out for First Republic Bank reporting as well after the closing bell today.

If we start in more detail now with the US, most of the key data is on Thursday and Friday. Before that tomorrow’s new home sales and consumer confidence are also important, especially the latter. The first reading of Q1 GDP is out on Thursday and our US economists expect a +2.2% print, versus +2.6% in the last quarter of 2022 with consumer spending (+3.6% vs. +2.5%) leading the way. However our economists suggest that Friday’s personal consumption and income data for March may well show that the bulk of the consumer boom in Q1 was in January and February due to warm weather. Within that report on Friday, the latest core PCE deflator will be a key report alongside the ECI. These will be the last big inflationary datapoints ahead of the FOMC.

In Europe, growth and inflation data is due for key economies on Friday. These include GDP and CPI releases for Germany and France and GDP for the Eurozone. There will also be a plenty of sentiment gauges for the bloc. These include the Ifo survey for Germany today, consumer confidence for Germany and France on Wednesday and a list of metrics for Italy and the Eurozone on Thursday.

Over in Asia, all eyes will be on Japan with both the BoJ decision and lots of key data including Tokyo CPI, labour market, retail sales and industrial production indicators all due on Friday. Our Chief Japan economist previews the central bank meeting, the first one for the new Governor Kazuo Ueda, here. Against the market consensus, he expects the BoJ to undergo a policy revision on the back of inflation risks, with potential outcomes including the termination of YCC, strengthening of forward guidance on short-term rates, and greater flexibility of JGB purchasing operations. For data releases, our economist expects unchanged unemployment and Tokyo CPI and a -0.4% MoM fall in industrial production (see full preview here).

Earnings season continues apace this week, with Big Tech reporters taking centre stage. Comprising almost 14% of the S&P 500 by market cap, Microsoft and Alphabet tomorrow, Meta on Wednesday, and Amazon on Thursday will be among the most anticipated reports. The only one missing from the pack is Apple, which will report on May 4th. Other notable tech earnings this week include Texas Instruments (tomorrow), SK Hynix (Wednesday), Intel (Thursday) and Sony (Friday).

In Europe the focus will be on key banks, including Credit Suisse (today) and UBS (tomorrow). The former will clearly be interesting given all that went on in Q1. Outflows will be worth watching just to see how serious the situation was at the time. In Asia, a number of Chinese banks report throughout the week. Meanwhile in the US, investors will be laser focussed on First Republic which report today. After trading in a 120-150 range in the first 2 and a bit months of the year, they have been in a 12-15 range over the last month. So they haven’t broken back out of their depressed range but haven’t deteriorated further. So these results could be important to the company and wider sentiment as this has been the perceived next weakest link.

There are also some pharma heavyweights reporting, including Novartis (tomorrow), AstraZeneca and Sanofi (Thursday) in Europe. In the US, we’ll hear from Eli Lilly, AbbVie, Merck and Bristol-Myers Squibb (Thursday), among others.

Consumer demand will be gauged from an array of earnings from companies including McDonald’s, Chipotle, PepsiCo (Tuesday), Coca-Cola (today), Domino’s, Mondelez (Thursday) and Hilton (Wednesday). In autos, the focus will be on BYD (Thursday), Mercedes-Benz (Friday) and GM (Tuesday). Investors will be particularly interested in EV rollouts and pricing. Among other economically-sensitive bellwether stocks, industrials reporting include UPS, Raytheon, General Electric (Tuesday), Honeywell, Caterpillar, Northrop Grumman (Thursday) and Boeing (Wednesday).

After the volatility in energy markets this year, attention will turn to some of the largest players by end of next week. Big Oil reporters including Exxon, Chevron and Eni on Friday and TotalEnergies on Thursday. Pioneer, Hess, EQT (Wednesday) and Valero (Thursday) will also report. Elsewhere, notable names in utilities include NextEra (Tuesday) and Iberdrola (Wednesday) and Linde, BASF (Thursday), Vale (Wednesday), Dow Inc (Tuesday) and Newmont (Thursday) in materials. The focus will likely be on supply plans and Chinese demand for metals players in particular.

The full day-by-day data, earnings and central bank speaker calendar is at the end as usual.

Asian equity markets are mostly trading lower as we start the week. As I check my screens, the KOSPI (-0.88%) is the biggest underperformer across the region with the Hang Seng (-0.61%), the CSI (-0.45%) and the Shanghai Composite (-0.15%) also losing ground in early trade. Elsewhere, the Nikkei (+0.29%) is bucking the regional trend. In overnight trading, US stock futures are seeing losses with contracts on the S&P 500 and NASDAQ 100 both around -0.30% lower. Meanwhile, yields on 10yr USTs (-1.14bps) have edged lower, trading at 3.56% as we go to press.

In a speech, the Bank of Japan Governor (BOJ) Kazuo Ueda indicated that consumer prices are likely nearing its peak, highlighting that he is “seeing it slowing ahead” while reiterating the need of keeping monetary policy expansionary ahead. Meanwhile, the BOJ Chief declined to specify how the central might phase out YCC, ahead of a two-day policy meeting that kicks off later this week. His overall comments don’t suggest a root and branch review for Friday but there still might be some changes that we highlighted above.

Elsewhere as we go to print, ECB governing council member Wunsch (from Belgium) has told the FT that he will only agree to halt rate hikes once wage growth starts to fall and that he wouldn’t be surprised if rates go to 4%. So a hawkish start to the week on that front.

In terms of recapping last week now, it was a relatively quiet week with risk off trying to dominate but with risk repeatedly making decent comebacks. Overall the S&P 500 retreated a very modest -0.1%, whilst 10yr Treasury yields gained +5.9bps over the week.

On Friday, the US composite flash PMI for April came in above expectations to sit firmly in expansionary territory at 53.5 (vs 51.2 expected), driven by a significant beat in the services component (53.7 vs 51.5 expected), as well as a more modest upside surprise in manufacturing (50.4 vs 49.0 expected). Digging into the weeds of the print, we can see prices charged for goods and services in April rose at their sharpest level since September 2022, with an upturn in demand renewing price pressures. The release went against the stream relative to the softer US data published earlier in the week, with this sample featuring greater exposure to smaller and more domestically oriented firms.

With the strong release highlighting real economy resilience despite the Fed’s historic hiking cycle, the probability of a 25bps hike in May priced in by the fed futures rose to 90.2%, up +8.9 percentage points week-on-week. Off the back of this, there was a small sell-off in US 10yr Treasuries, as yields rose +4.0bps on Friday, and +5.90bps week-on-week. The interest-rate sensitive 2yr yield climbed +3.9bps on Friday (and +8.3bps on the week).

Europe saw a similar reaction earlier on Friday, with the composite PMI likewise beating expectations to land at 54.4 (vs 53.7 expected), although the manufacturing component fell back to 45.5 (vs 48 expected). The 10yr bund yield gained +3.6bps on Friday, and +4.2bps on the week.

Against this backdrop, the S&P 500 traded largely flat on Friday, finishing just slightly higher (+0.09%). The index traded in a tight range over course of the week with the 5-day trading range just 55pts or 1.3%, with the index finishing the week just -0.10% lower overall. The lack of realized volatility was reflected in short-term implied volatility falling to its lowest levels in over 17 months, as the VIX volatility index finished Friday at its lowest weekly close (16.77pts) since November 2021. The cyclical sectors of consumer discretionary and staples outperformed following the release, up +1.20% and +0.75% on Friday respectively. On the flip side, the metals and mining sector slid -2.39% on the week as iron fell ore (-4.34% week-on-week and -3.24% on Friday) to its lowest level since December 2022. The STOXX 600 finished up a modest +0.34% on Friday (and +0.45% week-on-week).

2 b) NOW NEWSQUAWK (EUROPE/REPORT)/ASIA REPORT

Equities contained, DXY slips and EGBs pullback in limited European trade ex-Ifo – Newsquawk US Market Open

MONDAY, APR 24, 2023 – 06:21 AM

European bourses/US futures are posting marginal losses in a relatively slow start to an packed week.
DXY has slipped towards 101.50 with CHF & EUR outperforming while AUD & JPY lag though overall action is limited.
Gilts are flat and leading a modest retreat in EGBs with Bunds pressured by Ifo while USTs remain near APAC peak.
Crude and base metals are softer, in-line with broader sentiment, while spot gold is essentially unchanged.
Fed’s Cook inflation pressures abating, core remains stick; US’ McCarthy is confident he has enough House votes to pass his debt limit bill.
Looking ahead, highlights include speeches from ECB’s Panetta, Vujcic & de Guindos. Earnings from Coca-Cola.

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 posting marginal losses in a relatively slow start to the European weak, with mixed Ifo data somewhat overlooked, Euro Stoxx 50 -0.2%.
Sectors are mixed and feature outperformance in Financial Services on the back of UBS while Phillips leads the Stoxx 600 after a strong Q1 update.
Stateside, futures are pressured but the magnitude of the downside has eased slightly throughout the morning going into a particularly busy US week for earnings and data, ES -0.2%.
Click here for more detail.

FX

The Dollar has slipped towards the 101.50 mark from earlier 101.91 best to the mixed fortune of peers.
CHF outperforms with safe-haven demand factoring amid the general risk tone and as attention on the US debt limit increases, USD/CHF at the lower-end of 0.8883-0.8928 parameters.
EUR derived marginal and ultimately fleeting upside on the mixed German Ifo release and is now holding comfortably above the 1.10 mark but with ranges thin thus far while several ECB speakers have not impacted.
Next best is the Kiwi, which is deriving support from AUD/NZD tailwinds rather than the lower RBNZ risk weighting for business growth; NZD above 0.6150 while AUD languishes below 0.67.
PBoC set USD/CNY mid-point at 6.8835 vs exp. 6.8826 (prev. 6.8752)
Click here for more detail.
Click here for the notable FX expiries for today’s NY cut.

FIXED INCOME

Gilts lead a broad retreat in debt ahead of UK public finance data as the 10-year bond retreats through 101.00 within a 101.24-100.70 range.
Bunds off best levels between 134.21-133.68 parameters after a mixed German Ifo survey.
T-note holds firm near 114-24+ overnight peak vs 114-14+ trough ahead of low-key agenda.
GGBs have been lagging periphery peers somewhat, despite the outlook revision to positive at S&P as the rating was maintained as expected but disappointing some outside calls for an upgrade.
Click here for more detail.

COMMODITIES

WTI and Brent are off worst levels but remain softer overall in-line with broader risk sentiment; specifically, WTI is back in proximity to USD 78/bbl while Brent has reclaimed USD 81.50/bbl.
Iran sets the May Iranian light crude price to Asia at Oman/Dubai +USD 2.80bbl (vs. prev. USD 2.50bbl), according to a Reuters source.
Central banks reportedly loaded up on gold amid geopolitical tensions whereby reserve managers’ purchases rose 152% last year, while an annual poll of 83 central banks found that more than two-thirds thought their peers would increase gold holdings this year, according to FT.
Head of Russian Grain Union says the Black Sea grain deal has not brought anything good to Russia so far; Russia could export around 60mln tonnes of grain (inc. 50mln tonnes of wheat) this season.
Spot gold trades horizontally after finding some resistance around USD 1,985/oz overnight, with the yellow metal sandwiched to a USD 10/oz parameter amid a lack of clear catalysts.
Base metals are mostly lower, although LME copper remains cushioned despite the broader subdued mood across markets; ING cites disruption to Codelco’s copper operations.
Click here for more detail.

NOTABLE HEADLINES

UK PM Sunak will hold talks with major UK firms and investors on Monday under the new “Business Connect” forum as the government seeks to fill the void following the scandal and implosion of the CBI business lobby, according to Bloomberg and FT.
UK government is set to introduce legislation in the approaching days to set up a new regulator to police the increasing dominance of the large technology platforms, according to FT.
ECB’s Wunsch said they are waiting for wage growth and core inflation to decline, along with headline inflation, before they can arrive at the point where they can pause on rates, according to FT.
German Interior Minister said public workers agreed on a wage deal with employers, according to Reuters.
Germany’s Bundesbank says the economy grew in Q1 above expectations, after a rebound in industrial conditions.
S&P affirmed the UK at AA; Outlook Revised to Stable from Negative, while it affirmed Greece at BB+; Outlook Revised to Positive from Stable and affirmed Italy at BBB; Outlook Stable.

DATA RECAP

German Ifo Business Climate New (Apr) 93.6 vs. Exp. 94.0 (Prev. 93.3, Rev. 93.2); Ifo says the proportion of German Cos that want to increase prices has fallen again.
German Ifo Current Conditions New (Apr) 95.0 vs. Exp. 96.1 (Prev. 95.4); Expectations New (Apr) 92.2 vs. Exp. 91.6 (Prev. 91.2, Rev. 91.0)
UK Rightmove House Prices MM (Apr) 0.2% (Prev. 0.8%); YY (Apr) 1.7% (Prev. 3.0%)

NOTABLE US HEADLINES

Fed’s Cook (voter) said on Friday that monetary policy is moving into a more uncertain phase and banking sector headwinds could weigh on the rate rise outlook, while she added that March PCE inflation is likely to moderate to 4% and inflation pressures have been abating but core prices remain sticky, according to Reuters.
US House Speaker McCarthy said he is confident he has the votes to pass his debt limit bill in the House during the week ahead, according to a Fox News interview.
US regulators proposed new rules on Friday to speed up the assessment of financial stability risks and make it easier to designate non-banking institutions as systemically important which would subject them to Fed supervision, according to Reuters.
US banks are said to be increasingly concerned regarding falling commercial property valuations and the risk they pose to lenders’ balance sheets, according to FT citing senior executives.
Click here for the US Early Morning Note.

GEOPOLITICS

EU is set to propose banning many goods from transiting through Russia which would be part of the EU’s eleventh sanctions package, according to Bloomberg.
Russian Security Council Deputy Chairman Medvedev warned that Moscow will terminate the grain deal if the G7 moved to ban exports to Russia, according to Reuters.
Russia-installed head of Crimea said air defences had been activated on Saturday although there were no reports of damages or casualties, according to Reuters.
Germany expelled over 20 Russian diplomats, while Moscow called Berlin’s actions “hostile” and will expel at least 20 German diplomats in a tit-for-tat response, according to Russian state news RIA-Novosti.
Baltic states were angered by China’s ambassador to France who questioned the legitimacy of countries formerly in the Soviet Union and are planning to summon Chinese diplomats to complain about the remarks, according to FT.
Chinese Vice Foreign Minister Sun lodged solemn representations with the South Korean ambassador to China about South Korean President Yoon’s ‘erroneous’ Taiwan remarks, according to the Chinese Foreign Ministry cited by Reuters.
China reportedly lashed out against the US-Philippines alliance with the decision by the Philippines to grant the US access to four military bases near Taiwan said to anger Beijing, according to FT. However, it was separately reported that Chinese Foreign Minister Qin Gang said China is ready to work with the Philippines to implement a consensus between the two countries and the Philippines’ Foreign Minister commented that differences in the South China Sea are not the sum total of relations between the two countries, according to Reuters.
US senior administration official said North Korea’s human rights situation is likely to come up at next week’s US-South Korea summit and North Korea is now in many ways much more closely aligned with China than it was before.
US said it is deeply concerned by Azerbaijan establishing a checkpoint on the only land route to the contested Nagorno-Karabakh region, according to Reuters.
US Secretary of State Blinken said US personnel and their dependents were safely evacuated from the embassy in Sudan. Furthermore, UK PM Sunak said British armed forces completed a rapid evacuation of British diplomats and their families, while the German military also conducted an evacuation of German citizens from Sudan.
Turkey’s Defence Minister is planning to meet his Russian, Syrian and Iranian counterparts in Moscow on April 25th, via Anadolu news.
Japan says jet fighters/helicopters took off and landed on the Shandon Chinese carrier within the Pacific Ocean around 280 times between April 17th-23rd.
EU Council President Michel says EU-China policy will be on the June European Council agenda. Earlier in the session, EU Foreign Representative Borrell says they will discuss how to recalibrate China relations.

CRYPTO

Bitcoin is essentially unchanged on the session, towards the lower-end of USD 27.99-27.14k parameters with pertinent macro updates somewhat limited in the European morning.

APAC TRADE

APAC stocks were mixed after the lack of macro drivers over the weekend and as participants brace for this week’s key events including big US tech earnings and the first BoJ meeting under Governor Ueda’s leadership.
ASX 200 was lacklustre as gains in tech and defensives were offset by underperformance in the mining-related industries with notable losses in Fortescue Metals and South32 after weaker quarterly output updates.
Nikkei 225 eked slight gains after source reports that the BoJ is likely to maintain ultra-loose monetary policy and dovish guidance, while it was also reported the BoJ is considering a comprehensive review of the impact of the monetary easing taken over the longer term and are planning to examine a quarter century of deflation.
Hang Seng and Shanghai Comp were subdued despite the PBoC’s liquidity efforts and the announcement of policies to support trade by China’s Vice Commerce Minister who also noted that uncertainty in external demand remains the biggest restraint for China’s trade, while frictions lingered with the US reported to have urged South Korea not to fill China’s shortfalls if Beijing bans Micron chips.

NOTABLE ASIA-PAC HEADLINES

PBoC injected CNY 89bln via 7-day reverse repos on Sunday with the rate kept at 2.00% and it injected CNY 115bln via 7-day reverse repos with the rate kept at 2.00% on Monday.
PBoC official said China’s yuan has a solid foundation to remain stable and the PBoC will improve the floating exchange rate system based on market demand and supply, according to Reuters. One of China’s “big four” banks plans to cut some personal and corporate rates next week, according to sources; products affected include “call deposits” and “agreement deposits”. Sources said the mechanism asked for a roughly 10bps cut to weighted average term deposit rates in the quarter from a year earlier.
China urges banks to cut deposit rates, according to Reuters sources; message from Chinese regulators is to cut size of structured deposit business, lower rates of “innovative” products;
Chinese Vice Commerce Minister Wang said uncertainty in external demand remains the biggest restraint for China’s trade and said that China will actively satisfy funding demand from small and medium-sized exporters and importers, as well as support firms to explore diversified markets, according to Reuters.
Chinese officials and analysts said deflation concerns are unnecessary despite the slower price growth since the start of the year and noted the economy is on a solid recovery track amid pro-growth policies, according to the State Council.
US urges South Korea not to fill China shortfalls if Beijing bans Micron (MU) chips, according to FT.
BoJ Governor Ueda said the BoJ must maintain monetary easing as trend inflation is still below 2% but added that if it can be foreseen that trend inflation will reach 2%, the BoJ must head towards policy normalisation. Ueda also said that how to revise YCC will depend on various factors such as economic conditions and the pace of inflation at the time and noted that he cannot say now how specifically the BoJ could tweak YCC.
BoJ is considering conducting a comprehensive review of the impact of the monetary easing steps taken over the longer term with the central bank planning to examine a quarter century of deflation and could start discussions as early as this week’s policy meeting, according to a Sankei report which didn’t cite any sources.

2 c. ASIAN AFFAIRS

ASIAN AND AUSTRALIAN CLOSINGS//EUROPE OPENING TRADING:

MONDAY MORNING/SUNDAY NIGHT

2 d./NORTH KOREA/ SOUTH KOREA/

///NORTH KOREA/SOUTH KOREA/

END

2e) JAPAN

JAPAN/

END

3 CHINA /

‘A New World Order’? The Iran-Russia-China Axis During The Biden Administration

SATURDAY, APR 22, 2023 – 07:00 AM

Authored by Majid Rafizadeh via The Gatestone Institute,

As Winston Churchill famously pointed out, “I never worry about action, but only about inaction”.

The Biden administration’s inaction has led to the creation of a new axis of tyrannies: Russia, China and Iran, with North Korea not far behind.

As the Tehran Times, which has close ties to Iran’s foreign ministry, wrote: “[T]oday we are witnessing the formation of a new world order….”

Iran, China and Russia recently conducted joint naval exercises in the Sea of Oman, dubbed Marine Security Belt 2023. Iran’s state-controlled Press TV boasted that to oppose the United States, China and Russia have also stepped up their “joint military exercises in recent years as part of their aligning of foreign policies.”

“Back in December, the naval forces of China and Russia launched a one-week joint exercise off the coast of the Chinese Zhejiang Province in the East China Sea. China’s Eastern Theater Command of the People’s Liberation Army said at the time that the joint exercise was directed at demonstrating the determination and capability of the two sides to jointly respond to maritime security threats, and further deepen the China-Russia comprehensive new-era strategic partnership of coordination.”

When these kinds of critical axes develop in the world among authoritarian regimes, they will most likely last for many years, if not decades. As US Chairman of the Joint Chiefs of Staff General Mark Milley told lawmakers, the alliance among China, Russia and Iran would be a problem for the US. Speaking before the House Armed Services Committee alongside Defense Secretary Lloyd Austin, Milley said that Russia and China are “getting closer together…. And then… Iran is the third. So those three countries together are going to be problematic for many years to come I think, especially Russia and China because of their capability.”

The Iranian regime, especially, is fully benefiting from this axis; it is selling weapons to Russia; selling oil and trading with Russia and China in spite of sanctions, and counting on Beijing and Moscow’s support in the UN Security Council. As Ali Akbar Velayati, a senior adviser to Iran’s Supreme Leader Ayatollah Ali Khamenei, surprisingly acknowledged to Iran’s state-controlled Tasnim News:

“We are one of the few countries in the world that clearly stands against the United States, strongly continues its political life, and establishes relations and deals with other countries. So, what’s wrong with us having relations with countries like Russia, China, and India?! These countries have advanced technology, and many times, unlike the West, they have been responsive to our requests and offered their capabilities to us. What else should we expect from an allied country?…..Yes, during the years of sanctions, our best customer has been China, and in some years, we have traded goods worth up to 52 billion dollars with China….Recently, in the latest move made by the West and led by the United States, a resolution was supposed to be issued against us (in the UN Security Council), but it was vetoed by both Russia and China.”

The Biden Administration has created a vacuum of leadership on the global stage.

If the US further pulls out of Asia, the Indo-Pacific, the Middle East, Ukraine, Latin America — anywhere — the vacuum created will surely be filled by the new axis of China-Russia-Iran. A US pull-out is, most probably, just what they are hoping and waiting for.

If Putin sees any gains in Ukraine, China will try to seize Taiwan.

Former US National Security Advisor John Bolton accurately told radio host John Catsimatidis on the WABC 770 morning show:

“We’re sitting still, and the Chinese, the Russians, Iran, North Korea, and several others, are moving to shore up their relations and threaten us in a lot of different places… It’s an indication that the Saudis and others are [also] trying to hedge their bets with China and Russia, because they don’t think the United States has the resolve and the fortitude necessary to do what they need to do to protect the world against Iran and its intentions.”

“The Chinese,” Bolton added, “have a strategy they’ve been following… We kind of wander around from day to day.”

Thanks to the lack of leadership and the vacuum that the Biden administration has created — and appears continuing to create (here, here and here) — on the global stage, the new axis of Iran-China-Russia has been shaped with Beijing, Moscow and the ruling mullahs — rather than the brutalized people of Iran.

The Axis is seizing leadership of the new world order, or — if the world’s communists manage to defeat the world’s democrats, as they seem tenaciously determined to do — it will be, more accurately, the new world disorder.

end

4.EUROPEAN AFFAIRS//UK /SCANDAVIAN AFFAIRS

UK/SOCIAL MEDIA EXECUTIVES//EU

The”Tower of London” for Musk? For not censoring speech?

The world is in big trouble

(Jonathan Turley)

The Tower For Twitter? UK Minister Calls For Jailing Social Media Bosses Who Do Not Censor Speech

SATURDAY, APR 22, 2023 – 08:10 AM

Authored by Jonathan Turley,

As previously discussed, after Musk decided to buy Twitter, Hillary Clinton called upon European countries to force social media companies to censor Americans.

The European Union quickly responded by threatening Musk and other executives.

Now, UK Technology and Science Secretary Michelle Donelan has announced plans to jail social media executives if they fail to censor so-called “harmful” content on their websites.

The government, of course, will determine what is deemed too harmful for citizens to see or hear.

Donelan is seeking speech arrests under the UK’s Online Safety Bill, a draconian censorship bill that would effectively ban end-to-end encryption for private internet users.

The bill uses Britain’s broadcasting regulator Ofcom to censor “all forms of expression which spread, incite, promote or justify hatred” based on various progressive characteristics, including transgenderism.

So the government can censor anyone who it views as promoting or justifying hatred against virtually any group. Those who do not censor can now be rounded up by Donelan and her minions.

According to a report by The Telegraph, companies will also face fines of up to 10 per cent of their global revenue should they dare to ignore Britain’s demands to preemptively delete or obscure posts violating its coming censorship regime.

The decline of free speech in the United Kingdom has long been a concern for free speech advocates.

A man was convicted for sending a tweet while drunk referring to dead soldiers.

Another was arrested for an anti-police t-shirt.

Another was arrested for calling the Irish boyfriend of his ex-girlfriend a “leprechaun.”

Yet another was arrested for singing “Kung Fu Fighting.”

A teenager was arrested for protesting outside of a Scientology center with a sign calling the religion a “cult.”

Recently we discussed the arrest of a woman who was praying to herself near an abortion clinic.

English courts have seen criminalized “toxic ideologies” as part of this crackdown on free speech.

Donelan is only the latest voice of a rising generation of censors.

These officials proudly parade their intent to silence or jail those with dissenting views. Yet, they do so in the name of tolerance.

This is why free speech is in a free fall in Europe and why we must remain vigilant in this country to resist figures like Clinton who want to bring European censorship to our shores.

end

SWITZERLAND/CREDIT SUISSE/UBS

Credit Suisse reports huge losses and outflows. This may hamper the union of the two Swiss banks

(zerohedge0

“Magnitude Of Losses And Outflows Is Alarming:” Credit Suisse Hemorrhages $69 Billion In Assets

MONDAY, APR 24, 2023 – 08:45 AM

Credit Suisse reported Monday that clients had withdrawn 61.2 billion francs ($69 billion) in the first quarter and that outflows were continuing, highlighting the challenge faced by UBS in rescuing its rival in March.

In the last financial statement as an independent company, Credit Suisse reported a loss of 1.3 billion Swiss francs ($1.46 billion) for the first three months of the year. It said “significant net asset outflows” were seen in March.

Most asset outflows originated from its wealth management unit and occurred in all regions. The troubled bank said, “These outflows have moderated but have not yet reversed as of April 24, 2023.”

Credit Suisse’s wealth management unit lost 9% of assets in the first quarter. It said this would slash fees it generates and “likely lead to a substantial loss in wealth management” in the second quarter.

The Swiss government ultimately forced UBS’ $3.25 billion takeover of Credit Suisse last month, and carried significant integration risks. Both banks could see a continued exodus of customers.

High net worth investors started pulling money out of scandal-plagued Credit Suisse well before the turmoil unleashed in the regional US banking sector in March. Bloomberg said more than 200 billion francs of customer deposits over the last six months flowed out of the troubled bank.

“The magnitude of losses and outflows is alarming,” Keefe, Bruyette & Woods’ analysts wrote in a note to clients. They said, “The revenue trajectory is so damaged that the deal could well remain a drag on UBS operating results unless a deeper restructuring plan is announced.”

Also, in this morning’s announcement, Credit Suisse announced it had terminated a $175 million acquisition deal to purchase the investment bank of Michael Klein (the bank’s former director). The deal was supposed to be a plan to spin off Credit Suisse’s investment bank under the First Boston name that Klein would operate.

END

GERMANY

German inflation rising and this is causing a wave of strikes. It is crippling German air, rail and bus transportation

(zerohedge)

New Wave Of Inflation-Driven Strikes Cripples German Air, Rail, Bus Transportation

SATURDAY, APR 22, 2023 – 07:35 AM

Germany continues to be rocked by disruptive strikes against its entire transportation networks, as workers demand large pay hikes to help offset surging price inflation unleashed by central bank money creation, western sanctions against Russia, and Germany’s deeply flawed energy policies.

On Thursday, members of the Verdi trade union walked out of the Dusseldorf, Hamburg and Cologne airports. That prompted the cancellation of some 700 flights and, as the strike continues into Friday, will affect nearly 100,000 people, according to the airport association ADV.

On Friday, security workers at the Stuttgart airport will join the strike. In anticipation, the airport cancelled all scheduled departures.

That’s just the beginning of Friday’s misery in Deutschland: The EVG union has called for a nationwide transportation strike from 3am to 11 am, freezing rail and bus travel and throwing a wrench in commuter’s lives, to say nothing of tourists caught up in the mess. Empty train tracks at Berlin’s central station (Jochen Eckel/picture alliance via DW)

The Deutsche Bahn national rail service said the impact would be enormous, and extend beyond the hours of the strike itself. “The EVG has completely lost its sense of proportion and is only bent on chaos,” said Deutsche Bahn human resources board member Martin Seiler.

“Not a single train will run,” EVG rep Cosima Ingenschay tells Reuters. Deutsche Bahn confirmed as much, saying all long-distance service was cancelled and few commuter trains will operate.

Germany’s March year-over-year inflation rate clocked in at 7.3%. That’s a modest deceleration from the 8.7% rate seen in both January and February. However, March saw a jarring 22.3% rise in food prices, up from January’s 20.2% and February’s 21.8% rise.

EVG is demanding a 12% pay hike for its 230,000 members. Verdi is angling for bonuses for working nights, weekends and on public holidays. “Work at airports must become more attractive in order to be able to keep aviation security specialists and recruit new ones in order to avoid longer waiting times for holidaymakers,” Verdi rep Wolfgang Pieper tells DW.

A similar one-day mega-strike slammed Germany in late March. However, ratcheting up the pressure, another rep threatened that the next strike will span multiple days.

The cumulative toll is mounting, as more than 900,000 passengers have had to reschedule or cancel air travel so far this year. The bus and rail impact is surely well higher than that.

end

EU/USA

a must read!

ROBERT H TO US

The Euro will fall before the Federal Reserve Dollar

Worth reading.

https://open.substack.com/pub/rubino/p/can-the-euro-be-saved?r=184d63&utm_medium=ios&utm_campaign=post

What often is not understood by people is the scam played by Central Banks. We are led to believe that inflation is caused by printing of currency so everyone looks to see if printing occurs. Well the sad truth it does all the time except it’s not spoken of and hidden from plain view. Every time a so called Currency Swap occurs with the Federal Reserve for their Dollars by a foreign Central Bank; what happens is an effective printing of currency for that Central Bank making it very reliant on the Federal Reserve. Why? Because in reality the Foreign Central Bank cannot repay such Swaps with real currency created by the labor and output of its citizens. So when Foreign Central Banks trapped by such past Swaps see the Fed on the move they remain powerless and captured, unable to act. The Euro is no different. And why the BIS controlled by the FED through dominant share holdings is also a captured operation having no independence.

It is also why the Global South is saying NO to the US spending a trillion dollars more, than they produce in physical goods.They have called it out for the printing it is. What we see now daily with countries using their own currencies to settle trade is simply a desire for fair value for trade and not simple fiat printing. Since the Federal Reserve is not owned by Americans but rather exists as a Private Bank what is happening really is 80% of the world saying NO, we had enough and we will break free from the subjugation of their respective currencies to a almighty Federal Reserve Dollar which is being rejected.

While this does not mean entirely that the US is being rejected itself, their use of this private “Script” or money is being rejected. With this rejection comes the rejection of using American and other Western forces as an Enforcer of such hegemony. Why? Simply because vast printing directly or indirectly is not relevant when such currency is not accepted as payment for Needed goods. As countries supplying such basics as oil, demand alternative currency payments the ability to secure such alternative currency becomes a matter of privilege where acceptance of currency occurs. And such acceptance will become much more limited thus impacting the projection of hegemony. Even reductions of oil production is a denial of currency because the resource is more scarce and is in demand more than availed allowing choice of consumer. Such future contractions and projections of past power will have their own local impact. Expenditure of such military hardware in pursuit of past hegemony actually accelerates contraction of projection of power because scarcer payment exists which is in conflict with other demands for payment. We see this today as America itself is hollowed out with resultant tent cities and vast crime while Ukraine acts as money laundry weakening the standard of living within America and other willing participants. At some point, America will face a decision to break free just like others are now in the process of doing. This is inevitable because without breaking free America will not survive as captive force of a declining currency having no freedom of expression. This is further supported by the reality of more dollars externally in circulation than within the US itself. These dollars were largely accumulated as a result of trade where fair value via production secured such holdings which act as external liquidity pool. This truth is unmatched by any other such currency alternative and does offer a blanket for a time.

This reality will force a reset of currency values regardless of when the BRICS adopt their own common currency settlement because right now daily alternative currency settlements grow in amount and Velocity. No amount of war mongering will alter the course, this is set upon. As the removal of Russia from Swift was the final catalyst needed to wave goodbye. This is also a goodbye to globalism and a an emergence of decentralization. Many years ago, a good friend of mine who was a high level Intelligence Operative well placed told me i was wrong to think think this would occur. My reply was it was inevitable as the greed and corruption of the system would make this a reality because even those in charge has already lost control and the plot.

So when it should come to pass that Digital Currencies are attempted, know that these too will fail because they fundamentally are no descriptive as to real value and serve only to mask a lying past of non existent value. Nor will they be accepted by the majority of nations who set sail.

end

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

RUSSIA/USA//GERMANY

USA expediting Abrams delivery to Ukraine

(zerohedge)

US Expediting Abrams Delivery To Ukraine, Tanks To Arrive In Germany: SecDef Austin

SATURDAY, APR 22, 2023 – 08:45 AM

Wrapping up a big Friday meeting of the Defense Contact Group at Ramstein Air Base, Germany – a coalition of nations which coordinates weaponry to Ukraine – US Defense Secretary Lloyd Austin announced the Pentagon is now expediting delivery of M1 Abrams to Kiev.

“We’ve also expedited our M1 Abrams timelines to supply Ukraine with more armored capability in the coming months, and the M1s that the Ukrainians will use for training will arrive here in Germany in the next few weeks,” Austin announced during a press conference.Image: Associated Press

This comes on the heels of reports from earlier in the day saying that 31 Abrams tanks are set to arrive in Germany soon, where an additional 10-week training program for Ukrainian operators will be held.

This means the tanks could finally reach the battlefield by Fall, according to reports. But given that Russia clearly has the upper-hand in the key Donetsk city of Bakhmut, how the situation will unfold by then is anything but certain.

Austin in his comments also pledged support to Kiev for as long as Ukraine is battling the Russian invasion, reviewing the major weapons systems supplied by 54 allied nations thus far:

Another major development announced at the end of the Contact Group meeting, the fourth to be held, is that Germany, Poland and Ukraine have signed an agreement to establish a repair hub for Leopard II tanks being used in Ukraine.

Ukraine has declared what it’s calling a “tank coalition” involving partner nations…

Germany’s Defense Minister Boris Pistorius explained that “All parties agreed on how to finance such a hub, which costs around 150-200 million euros ($384 million) a year and could begin operations at the end of May.”

END

6.Global Issues//COVID ISSUES/VACCINE ISSUES/

Dr. Peter McCullough On “The Holy Grail Of COVID-19 Vaccine Detoxification”

BY THE WELLNESS COMPANY

“How do I get this vaccine out of my body?”

Dr. Peter McCullough has been a voice of reason in a medical system crazed with COVID hysteria.

As a leading cardiologist, he worked to educate us all on what – and what isn’t – the science behind COVID and the vaccines.

And his warnings about vaccines have been borne out.

In a recent article, Dr. McCullough said this:

Far and away the most common question I get from those who took one of the COVID-19 vaccines is: “how do I get this out of my body.” The mRNA and adenoviral DNA products were rolled out with no idea on how or when the body would ever breakdown the genetic code. The synthetic mRNA carried on lipid nanoparticles appears to be resistant to breakdown by human ribonucleases by design so the product would be long-lasting and produce the protein product of interest for a considerable time period. This would be an advantage for a normal human protein being replaced in a rare genetic deficiency state (e.g. alpha galactosidase in Fabry’s disease). However, it is a big problem when the protein is the pathogenic SARS-CoV-2 Spike. The adenoviral DNA (Janssen) should broken down by deoxyribonuclease, however this has not be exhaustively studied.

This leaves dissolution of Spike protein as a therapeutic goal for the vaccine injured. With the respiratory infection, Spike is processed and activated by cellular proteases including transmembrane serine protein 2 (TMPRSS2), cathepsin, and furin. With vaccination, these systems may be avoided by systemic administration and production of Spike protein within cells. As a result, the pathogenesis of vaccine injury syndromes is believed to be driven by accumulation of Spike protein in cells, tissues, and organs.

Nattokinase is an enzyme is produced by fermenting soybeans with bacteria Bacillus subtilis var. natto and has been available as an oral supplement. It degrades fibrinogen, factor VII, cytokines, and factor VIII and has been studied for its cardiovascular benefits. Out of all the available therapies I have used in my practice and among all the proposed detoxification agents, I believe nattokinase and related peptides hold the greatest promise for patients at this time.

If you or someone you love would like to try nattokinase, The Wellness Company’s “Spike Support Formula” contains nattokinase plus other extracts .

In The Wellness Company’s Spike Support Formula you will find:

Nattokinase
Selenium (aids in helping the body repair itself and recover)
Dandelion root (acts as a detoxifying agent supporting better liver function)
Black sativa extract (may facilitate cellular repair)
Green tea extract (provides added defenses at the cellular level through scavenging for free radicals)
Irish sea moss (could help rebuild damaged tissue and muscle)

Here is Dr. Jen VanDeWater talking about all the elements of The Wellness Company’s Spike Support Formula:

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“I am grateful for the Wellness Company and for you coming out with this spike protein vitamins. I am a big believer in natural healing and not pharmaceutical drugs. Thank you for doing what is right and for speaking truth in a world that is so dark.”

According to the Wellness Company, purchasing all the components of the Spike Support Formula would be over $100 – you can save 36% with the unique formulation in The Wellness Company’s Spike Support Formula.

Click here to order the Spike Support Formula today!

END

Chicago Employees Fired For Not Getting COVID-19 Vaccine Must Be Reinstated: Judge

SUNDAY, APR 23, 2023 – 01:30 PM

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

Workers in Chicago who were fired for not complying with the city’s COVID-19 vaccine mandate must get their jobs back, a judge said in a new ruling.Chicago Mayor Lori Lightfoot speaks at an election night rally at Mid-America Carpenters Regional Council in Chicago on Feb. 28, 2023. (Kamil Krzaczynski/Getty Images)

City officials violated multiple parts of the Illinois Public Labor Relations Act by imposing the mandate without negotiating with unions representing the workers over the effects of the mandate, including consequences for not getting vaccinated, Administrative Law Judge Anna Hamburg-Gal said in a 78-page ruling dated April 19.

The mandate itself was not subject to bargaining because the vaccination requirements were “integral to [the city’s] ability to maintain a functional workforce that was capable of carrying out public services during a global pandemic,” Hamburg-Gal said. But that didn’t remove the need to bargain over aspects of the mandate.

“Even where an employer’s decision to implement a management policy is not subject to negotiations, the Act requires good-faith collective bargaining over the effects of that policy decision on the terms and conditions of employment of bargaining unit employees,” the judge said.

Effects that should have been negotiated included sick leave availability for workers who were injured by a vaccine and discipline for failing to report vaccination status or failing to get vaccinated, according to the ruling.

No emergency removed the bargaining requirements for the mandate, which was imposed on Oct. 8, 2021, the judge said.

“By that date, the pandemic had been in existence for well over a year and a vaccine had been available to the public for over ten months under Emergency Use Authorization,” the ruling noted.

The city also violated the law by not providing unions with information they requested that was relevant to negotiations and by eliminating a testing alternative to vaccination.

Read more here…

end

Senator Demands Answers From Government On COVID-19 Vaccine Injury Compensation

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

A U.S. senator is demanding answers from U.S. officials on compensation to people who were injured by COVID-19 vaccines.Sen. Ron Johnson (R-Wis.) in Washington on Feb. 9, 2021. (Ting Shen/Pool/AFP via Getty Images)

Sen. Ron Johnson (R-Wis.), ranking member of the Senate’s Permanent Subcommittee on Investigations, asked for key details on the U.S. compensation scheme, including how much each person who has been compensated requested.

The government recently paid three people who were injured by the vaccines, marking the first time payments were rendered for the COVID vaccines. But the highest payout was just $2,019.

Johnson is also asking whether the government has advertised the Countermeasures Injury Compensation Program (CICP), the only venue for federal compensation; whether officials expect an increase in claims in light of how many injury reports have been logged with the Vaccine Adverse Event Reporting System, and how much money injured people are eligible for under the program.

The Republican outlined the requested information in a letter to Xavier Becerra, the secretary of the Department of Health and Human Services (HHS), and Carole Johnson, the administrator of the Health and Resources Administration (HRSA).

HHS and HRSA did not respond to requests for comment.

“Although the government appears to be providing very limited compensation to individuals who have filed COVID-19 vaccine injury claims, the process by which HHS evaluates these claims or even advertises the existence of this compensation program remains opaque,” Johnson told The Epoch Times in an emailed statement.

“HHS owes the American people a complete explanation of its administration of the compensation program for individuals who have suffered COVID-19 vaccine injuries,” he added.

Read more here…

end

TOTAL INSANITY: THE PATIENT HAS CLEAR IMMUNITY AND THEY REFUSE A TRANSPLANT?

(EPOCH TIMES)

Unvaccinated, Terminally-Ill Alberta Woman Denied Transplant Despite Proof Of COVID Natural Immunity

FRIDAY, APR 21, 2023 – 10:20 PM

Authored by Andrew Chen via The Epoch Times (emphasis ours),A vial of Pfizer-BioNTech COVID-19 vaccine is pictured at an Alberta Health Services vaccination clinic in Didsbury, Alta., on June 29, 2021. (Jeff McIntosh/The Canadian Press)

A terminally-ill Alberta woman who was removed from an organ transplant list because she was unvaccinated against COVID-19 continued to be denied access to the medical procedure even after obtaining an independent medical report showing that she has natural immunity, said the Justice Centre for Constitutional Freedoms (JCCF
Sheila Annette Lewis has been challenging the constitutionality of the vaccine requirement put in place by Alberta Health Services (AHS) for transplant candidates.
On March 28, Lewis provided her doctors in the Alberta transplant program with a privately-funded medical report, which established that she has strong natural immunity to COVID-19 and had overcome previous COVID-19 infections, the JCCF said in a press release issued April 18. The report was provided by the Kinexus Bioinformatics Corporation on March 24.The Kinexus report said Lewis’s blood sample “clearly supports the presence of SARS-CoV-2 immunoreactivity.” It also noted that she was likely infected with the disease around mid-September 2021 and was reinfected again more recently, and thus has “extremely high levels of antibodies against SARS-CoV-2.”END

DR. PAUL ALEXANDERAPR 22

end

Dropping like flies? (Stricker), Yes they are! ‘Officials: 19-year-old Glen Cove EMT dies after suffering ‘unspecified medical emergency’; should we ask if due to mRNA technology based gene injection?

A 19-year-old Glen Cove EMT died Monday after suffering an “unspecified medical emergency” shortly after a volunteer shift, according to the Nassau County fire marshal

DR. PAUL ALEXANDERAPR 22

SOURCE:

https://longisland.news12.com/officials-19-year-old-glen-cove-emt-dies-after-suffering-unspecified-medical-emergency

end

150 Canadian doctors have died suddenly, soon after the roll-out of COVID mRNA technology based gene vaccines & having taken the shots, so why the silence by Trudeau? By the CMA? By the OMO? by CPSO?

Does anyone care? These doctors were misled by their Colleges and government, would their families demand autopsies to best inform us of cause, if mRNA technology vaccine was cause?

DR. PAUL ALEXANDERAPR 22

Dr. Makis give us an updated count that is staggering, angering, outrageous and I compliment him for this scholarship. I ask you to support him!

“These days, there are far stronger morals, ethics and honorable behavior in the Mexican drug cartels, than in Canada’s entire healthcare leadership.

END

Canadian GRADE 11 child dies suddenly at school desk in Prince Edward Island (PEI); so how does this young person suddenly die of natural causes? child was double vaccinated I am told; IMO

mRNA technology vaccine-induced death, part of the COVID lunacy; the government, all involved are criminals for what they did & the parents must seek justice;, yes, privacy but we seek accountability

DR. PAUL ALEXANDERAPR 21

‘The École François-Buote community continued to mourn Saturday after a student at the Charlottetown school suffered a “sudden and unexpected death” on Friday.

P.E.I.’s French Language School Board released a statement on Saturday saying the student died of natural causes, and it has “deeply impacted the school community and beyond.”

“The CSLF extends its most sincere condolences to the student’s parents, family, his many friends, school staff, and all persons having had the privilege of interacting with him,” the statement said.’

SOURCE:

https://www.cbc.ca/news/canada/prince-edward-island/pei-francophone-school-death-april-2023-1.6811509?fbclid=IwAR3I3P-IYXWo87hTUAF4mU5yOoC6yAjKsmen7yUnWZcLH2RekWa5JgFpRnY&mibextid=unz460

end

A 39 Year Old Alberta Pilot for WestJet Airlines Died Suddenly on March 17, 2023!; should we ask if due to mRNA technology based gene injection? (RONDEAU); should airlines mandate tests for myocardis?

In 2018 the family moved to Edmonton, Alberta at which time Ben began working for West Jet Encore, something that he was very proud of. In 2020 the family welcomed John (JD) into the mix.

DR. PAUL ALEXANDERAPR 24

SOURCE:

A 39 Year Old Alberta Pilot for WestJet Airlines Died Suddenly on March 17, 2023

end

Jamie Foxx, this is a repost of a prior substack: did Jamie Foxx suffer a mRNA technology vaccine induced stroke? Was this ‘medical emergency’ vaccine related? Is this being hidden? How many shots did

Foxx take? Was he vaccinated? It seems 100% YES! see below. I am arguing that in all likelihood, the brain aneurysm he has suffered is linked to the COVID mRNA technology gene injection.

DR. PAUL ALEXANDERAPR 21

Alexander COVID News-Dr. Paul Elias Alexander’s Newsletter

Jamie Foxx had a medical emergency, some said stroke?? Was it stroke? What happened here? Why the cryptic information? Is this vaccine-induced? Is this a vaccine-induced medical issue? I heard he is

Alexander COVID News-Dr. Paul Elias Alexander’s Newsletter is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber…

7 days ago · 123 likes · 26 comments · Dr. Paul Alexander

end

SLAY NEWS

The latest reports from Slay News

Coroner Calls for Covid Shots to Be Listed on Death Certificates A coroner has called for Covid shots to be listed on people’s death certificates if they die suddenly shortly after receiving the jab.READ MORE

Latest Twitter Files Release Proves Fauci Lied Under Oath The latest Twitter Files release has provided new evidence that proves Dr. Antony Fauci lied under oath during his congressional testimony.READ MORE

CNN Gives Chris Wallace Huge Demotion, Pulls Host from Primetime Sunday CNN has just dealt a major blow to Chris Wallace by moving the embattled host out of his coveted Sunday primetime slot.READ MORE

Jim Jordan Drops Hammer: Biden’s Team Played Role in Inception of Infamous Laptop Letter A former top CIA official, who helped write and sign the intelligence community’s infamous Hunter Biden laptop letter, has flipped and blown the whistle on Democrat President Joe Biden and his team.READ MORE

Alyssa Milano Melts Down after Losing Her Coveted Blue Checkmark on Twitter Celebrities have been melting down after Elon Musk’s purge of blue checkmarks from Twitter accounts verified under the company’s old management.READ MORE

Co-Pilot Forced to Make Emergency Landing of Packed Passenger Jet as Pilot Suffers ‘Indisposition’A co-pilot was forced to take over the controls of a packed passenger jet and make an emergency landing after the pilot suffered a sudden “indisposition” and could no longer fly the plane.READ MORE

Chicago Shoplifter, Stopped in Act and Pinned by Black Belt, Pleads Guilty Christopher Cruz, the Chicago criminal who was stopped in the middle of a crime by a good Samaritan, has pleaded guilty to his charges. Cruz was stopped dead in his tracks and pinned to the ground until police arrived by 3rd-degree black belt jiu-jitsu instructor Idriz Redzovic. A CPD spokesperson said at the time: “The offender took a fighting stance, …READ MORE

Prosecutors Consider Indicting Hunter Biden on Three Tax Crimes, One Gun Charge Federal prosecutors have considered four possible charges against Hunter Biden including three tax crimes and a charge related to a gun purchase, according to reports.READ MORE

House Democrat Leader: Issue of Men in Women’s Sports ‘Doesn’t Really Exist’House Democrat Leader Hakeem Jeffries (D-NY) has claimed that the issue of men competing in women’s sports is one that “doesn’t really exist.”READ MORE

Trump May Be Eyeing Elise Stefanik as His VP, Top Adviser Suggests President Donald Trump may be seriously considering Republican Rep. Elise Stefanik (R-NY) as his running mate for 2024, a close adviser has suggested.READ MORE

Company Launches ‘Brilliant’ Ad Exposing ‘Woke Corporate America’A company has launched a new video ad that highlights the radical agenda of “woke corporate America.”READ MORE

Shannon Bream Sets Record at Fox News Books, Sells over 1 Million Copies of Biblical Series Fox News Sunday anchor and chief legal correspondent Shannon Bream set a new record for Fox News Books, the publishing unit of Fox News Media, after her biblical “Speak” series surpassed 1 million copies sold. READ MORE

Facebook’s Oversight Board Demands More Censorship of ‘Covid Misinformation’Facebook’s Oversight Board has demanded that the social media platform ramps up censorship in an effort to crack down on so-called “misinformation” about Covid.READ MORE Unvaxxed Terminally Ill Woman Denied Life-Saving Organ Transplant A terminally ill woman has been denied a life-saving organ transplant because she isn’t vaccinated for Covid, despite having proof that she has developed natural immunity to the virus.READ MORE Charlie Sheen Grovels, Begs Elon Musk For His Blue Twitter Checkmark Back Hollywood star Charlie Sheen begged Twitter CEO Elon Musk to return his coveted blue Twitter verification check mark yesterday in a groveling display. Sheen certainly can afford to spend $8 bucks a month making the begging even more desperate. He said: “Dear @elonmusk. I’m sorry your fancy rocket exploded in spectacular fashion. I’m certain you’ll build an even bigger and …READ MORE BRICS De-Dollarization Push Gathers Momentum The push for de-dollarization led by the BRICS group is continuing to gather momentum as Indonesia moves to shift away from the U.S. dollar for trade and financial transactions.READ MORE “The city is being destroyed by the migrant crisis”: New York City Mayor Rips Joe Biden New York City Mayor Eric Adams doomed President Joe Biden during a panel discussion hosted by the African American Mayors Association saying Biden’s migrant crisis is destroying New York. Adam said to the stunned audience: “The city is being destroyed by the migrant crisis. And none of my folks came to Washington DC to fight for the resources that’s going …READ MORE Watch: Trump Stops For Pizza In Florida, Crowd Cheers “USA, USA, USA” and “Trump, Trump, Trump, Trump”Former President Donald Trump stopped by a local pizza place last night in Ft. Myers, Florida with US Rep. Byron Donalds and was swarmed by supporters. The locals cheered and started chanting “Trump, Trump, Trump Trump” and “USA, USA, USA.” Trump made the stop after giving a speech at the Lee County Lincoln-Reagan dinner. Two Florida congressmen Rep. Greg Steube …READ MORE Gavin Newsom Calls In National Guard To San Francisco: “Increasing law enforcement presence to improve public safety and public confidence in San Francisco”California Governor Gavin Newsom called in the National Guard to help clean up San Francisco in a shocking turn of events. Newsom announced a new partnership with the California Highway Patrol (CHP), California National Guard (CalGuard), San Francisco Police Department (SFPD), and the San Francisco District Attorney’s Office (SFDA) to deal with the fentanyl crisis. Newsom said the agreement between …READ MORE James Woods Reaches Limit, Demands To See Manifesto Of Nashville Shooter Hollywood legend James Woods reached his limit with the mysterious silence coming from the authorities about the Nashville shooter. Woods is demanding to see the shooter’s manifesto amid reports it is being held from the public because it is “being processed by the FBI.” Woods said: “Where is the manifesto of the trans lunatic who slaughtered these beautiful souls?” But …READ MORE Trump Leads Biden by 4 Points in General Matchup, Poll Shows President Donald Trump is leading President Joe Biden by four points in a hypothetical general matchup for the 2024 election, according to a new poll.READ MORE 60% of Americans Believe ‘Cheating’ Impacted Recent Elections, Poll Shows Most Americans believe that the results of the 2022 midterm elections were impacted by “cheating,” a new poll has revealed.READ MORE Lori Lightfoot Finally Tells Truth About Chicago Crime: “If somebody musters the courage to come forward and identify the person who just shot up their neighborhood, and then sees Pookie walking bold as day back on the street two days later, what does that say to them”Failed Chicago Mayor Lori Lightfoot finally told the truth about the violence plaguing our great American cities and called on Democrat mayors to “speak the truth” on violent crime. Speaking on a panel at the African American Mayors Association Conference in Washington, D.C., on Friday, Lightfoot said: “As Democrats, if we do not speak the truth about violent crime in …READ MORE Kid Rock And John Rich Get Historic Over Bud Light As Brand Announces Executive Shakeup After Successful Boycott Legendary musician Kid Rock and country music superstar John Rich got a historic win over Bud Light after the beer brand caved and announced a major executive shakeup after the disastrous marketing campaign with transgender influencer Dulan Mulvaney. Kid Rock started a boycott of the brand. John Rich and Travis Tritt quickly followed. What happened next no one could have …READ MORE Transgender Democrat Warns of ‘Bloodshed’ in Response to Republican Child Protection Measures A transgender Democrat legislator has warned Montana Republicans of “bloodshed” in response to their efforts to protect children.READ MORE GOP Senate Candidate Proposes Reparations for White People ‘Who Died to Save the Lives of Black People’Ohio Senate Republican candidate Bernie Moreno (R-OH) proposed reparations for white people who fought in the Union army during Civil War when he announced his run for the US Senate. He said: “We stand at the shoulders of giants, don’t we? We stand on shoulders of people like John Adams, James Madison, Alexander Hamilton, George Washington. That this group of …READ MORE

MICHAEL EVERY/RABOBANK//

Central Bank Gold Buying At Highest Since 1950s, As 30% Of World Economies Are Now Sanctioned By The G7

MONDAY, APR 24, 2023 – 10:35 AM

By Michael Every of Rabobank

ARS-sault and Barter-y

Optimists were assaulted by Friday’s data, the Eurozone manufacturing PMI down to 45.5 despite subsidies, stimulus, and lower energy, and the US only 50.4 despite being ‘back in the factory business’. Services PMIs were better but that’s where much core CPI is located, so suggested stagflation; as did Japan’s core CPI at 3.8% y-o-y; as did UK retail sales with food prices at a 45-year high – as the Financial Times noted, the BOE won’t get CPI back to 2% until that is back under control: but it can’t control it. There was also a battering from the geopolitical sphere:

The G7 may ban all exports to Russia; Russia warned the Black Sea Grain Deal will end if G7 approves ban on exports to Russia. The G7 ignores this threat requires closing third party loopholes, as with Russian imports.
Russian state TV discussed plans to rule the world after winning a nuclear war’, saying, “the territory of the former Ukraine… should be simply liquidated as a nation…. Then it can be decided what to do with the lands and the people,” and that Moscow must train new European leaders favoring Russia(!) Russia also warned South Korea if it arms Ukraine, it will arm North Korea.
Head of the US Joint Chiefs of Staff stated the US will have to double its military spending if Russia wins in Ukraine, calling into question the rules-based world order.
The US said it will introduce capital controls on investments into China. So, tariffs > inward capital controls > outward capital controls, as predicted in 2017. Expect these to widen from initial AI/tech over time, as tariffs and sanctions both did.
Treasury Secretary Yellen stated: “We do not seek to “decouple” our economy from China’s. A full separation of our economies would be disastrous for both countries… the world is big enough for both of us,” and not “zero sum.” However, she also said the US would always put its national security first, even at an economic cost. To her, this was olive branch; but Beijing still sees it as a stick, saying the US wants to strip it of its right to development to maintain global hegemony.
A US Congressional committee claimed a war game on China invading Taiwan shows the need for ‘decisive action’ to boost arms, and its head stated “The business community is not taking the threat of a Taiwan crisis seriously enough… [verging] on dereliction of fiduciary duty“.
Logistics magazine gCaptain says ‘China’s Plan For Taiwan Invasion Is Not A Secret’, as projected 2030 US – China navy strength from @Tshugart3 shows the US little changed but the PLAN 50% larger in vessel count, if not total tonnage.
China’s ambassador to France stated no post-Soviet states have status under international law. That contradicts Beijing’s official position but raises questions if “legitimate security interests” now do exactly that. A joint Baltic-states protest to China will be made today; even beforehand, Italy was planning to distancing itself from China’s Belt and Road.
’Chile will nationalise its huge lithium industry. Like Indonesia and the Philippines (nickel), OPEC+ (oil), and China (rare earths), Chile is intent on controlling supply and moving up the value chain. Which way will Chile lean if there is a geopolitical choice of export destination?
The Central Bank of Argentina is, by some reports, out of dollars and might even have dipped into private-sector dollar accounts. USD/ARS was 218.51 Friday (and more than double that on the black market), +979% since 2018, with CPI over 100% y-o-y and rates at 81%. President Fernández’s announced Friday that he won’t seek re-election this year, so the future is uncertain. Could new leadership see Argentina shift from USD to CNY, or to dollarize?
Egypt, home of the Suez Canal, is on the same crisis path, with no dollars and local hyperinflation, as next-door Sudan sees Western nations struggling to evacuate their embassies.

Against this, the Financial Times notes central bank gold buying at its highest since the 1950s, as 30% of world economies are now sanctioned by the G7, and the US debt ceiling looms, arguing dollar hegemony is in trouble. However, it errs in saying the US relies on foreign capital inflows to supplement its local capital stock when, as Michael Pettis puts it, those flows supplant it, forcing up either debt or unemployment. Larry Summers also just defended the dollar on Bloomberg, asking if China is really somewhere people want to hold their reserves, and arguing capital –and people– are flooding out. Even Russia’s central bank says CNY isn’t a good option.

More broadly, what are gold buyers going to sell it for or price it in? Worse, gold either forces barter trade to balance, so the end of our global system of large imbalances, or a 19th century zero-sum imperialism to force people to let you run trade surpluses. As Dr. Pippa Malmgren says on this ‘new’ anti-US market meme: “Tactics without strategy leads to disaster. This is not about de-dollarisation. This is about replacing the medium of exchange from dollars to violence.”

Indeed, if the US is talking about a world where it doubles its defence spending, buy the buck and buckle up. As Yellen noted in her speech: “It’s important to know this: pronouncements of US decline have been around for decades. But they have always been proven wrong. The US has repeatedly demonstrated its ability to adapt and reinvent to face new challenges. This time will be no different.” Many would feel more confident if it weren’t Yellen saying it; but Foreign Policy’s ‘The Myth of Multipolarity: American Power’s Staying Power’ makes the same case.

Could the US afford to spend another $1 trillion a year? Could anyone? It’s all relative. But we are moving closer to a point of praxis on that and many fronts. The US banking sector may see a credit crunch due to rising rates, with auto loans and commercial real estate the core of concerns. That raises the likelihood that we move towards another predicted outcome: higher rates and acronyms, like QE, to reallocate capital from irrelevant to (national security) productive sectors, paid for by central banks, as the ECB’s Lagarde told us last week. In this zeitgeist, a recent Financial Times op-ed talked of ‘The contentious idea that still challenges the Fed’: that there is nothing stopping central banks allocating credit if they want to – they just haven’t wanted to.

Yet the luxury of too-high rates –so no national security spending, just austerity– or too-low rates –so no national security spending, just bubbles– surely cannot be long for this geopolitical world. It makes zero sense to have one base rate, especially if it’s zero, and expecting the economy to make a green transition, or fight a Cold War or a hot one. It’s cut rates and let bubbles rip, as markets keep expecting; or embrace Biden’s national security state capitalism, or the Heritage Foundation’s ‘common good’ capitalism with a moral mission – and higher rates.

The US still has to act in a world of ARS-sault and barter-y where EM want to drop the dollar: to offer carrots, like swap lines or dollarisation *for friends*, and sticks, like tariffs, capital controls, and higher rates to push down commodity prices. That’s realpolitik where economics is not real or political: a colleague and I just laughed at one ‘history of trade’ saying barter was “swapping spears for furs”: if you have spears and the other guy furs, then you have spears *and* furs.

Indeed, why is the US is to now crack down on shadow-bank hedge funds and private equity? Yes, to ensure financial stability. However, also to use the financial system to achieve national goals, while hitting elements that provide nothing useful nationally, China-style; the US already copied tariffs, economic coercion (i.e., sanctions), industrial policy, and capital controls. To quote Fox News: ““I bet right now (Blackstone CEO Steve) Schwarzman is calling everyone he knows in DC to get the Fed to back off. The Fed won’t, of course, because no one is going to bailout a bunch of fat cats.”” Didn’t we also just see the same thing happening in China?

By the way, China also just told its unemployed white-collar students to roll up their sleeves and try blue-collar work. What a shock to some US blue hairs that would be! Or perhaps they might enlist, given recruitment numbers are vastly short of targets, a five-alarm fire in military circles.

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

end

8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES

END

YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS MONDAY MORNING 7;30AM//OPENING AND CLOSINGS

EURO VS USA DOLLAR:1.1005 UP.0035

USA/ YEN 134.64 UP 0.653 NOW TARGETS INTEREST RATE AT .50% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2434 UP 0.0032

USA/CAN DOLLAR: 1.3538 UP .0012 (CDN DOLLAR DOWN 12 PTS)

Last night Shanghai COMPOSITE CLOSED DOWN 25.84 PTS OR 0.78%

Hang Seng CLOSED DOWN 115.79 PTS OR 0.58%

AUSTRALIA CLOSED DOWN .14% // EUROPEAN BOURSE: MOSTLY MIXED

Trading from Europe and ASIA

I) EUROPEAN BOURSES MOSTLY MIXED

2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 115/79 PTS OR 0.58 %

/SHANGHAI CLOSED DOWN 25.84 PTS OR 0.78%

AUSTRALIA BOURSE CLOSED DOWN 0.14%

(Nikkei (Japan) CLOSED UP 29.15 PTS OR 0.10%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 1984.25

silver:$25.07

USA dollar index early MONDAY morning: 101.41 DOWN 14 BASIS POINTS FROM FRIDAY’s close.

MONDAY MORNING NUMBERS ENDS

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And now your closing MONDAY NUMBERS 11: 00 AM

Portuguese 10 year bond yield: 3.312% UP 1 in basis point(s) yield

JAPANESE BOND YIELD: +0.467 % UP 1 AND 1//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.521 UP 1 in basis points yield

ITALIAN 10 YR BOND YIELD 4.360 UP 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.4895 UP 1 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR MONDAY

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

Euro/USA 1.1023 UP 0.0052 or 52 basis points

USA/Japan: 134,34 UP 0.413 OR YEN DOWN 41 basis points/

Great Britain/USA 1.2455 UP .0053 OR 53 BASIS POINTS //

Canadian dollar DOWN .0016 OR 16 BASIS pts to 1.3542

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The USA/Yuan, CNY: closed ON SHORE (CLOSED DOWN.(6.8960)

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. 6.9053

TURKISH LIRA: 19.40 EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.

the 10 yr Japanese bond yield at +0.467…VERY DANGEROUS

Your closing 10 yr US bond yield DOWN 6 in basis points from FRIDAY at 3.511% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 3.723 DOWN 6 IN BASIS POINTS

USA 2 YR BOND YIELD: 4.137% DOWN 5 in basis points.

USA dollar index, 101.26 DOWN 29 in basis points ON THE DAY/12.00 PM

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

London: CLOSED DOWN 0.65 points or .01%

German Dax : CLOSED DOWN 20.17 PTS OR .13%

Paris CAC CLOSED DOWN 5.80 PTS OR 0.08%

Spain IBEX DOWN 0.60 PTS OR .01%

Italian MIB: CLOSED DOWN 213.41 PTS OR 0.77%

WTI Oil price 77.25 12: EST

Brent Oil: 82.66. 12:00 EST

USA /RUSSIAN /// REMAINS AT: 81.27/ ROUBLE UP 0 AND 43//100 RUBLES/DOLLAR

GERMAN 10 YR BOND YIELD; +2.4895 UP 1 BASIS PTS

UK 10 YR YIELD: 3.7980 UP 4 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.1043 UP 0.0072 OR 72 BASIS POINTS

British Pound: 1.2479 UP 0078 or 78 basis pts

BRITISH 10 YR GILT BOND YIELD: 3.8170% UP 3 BASIS PTS

USA dollar vs Japanese Yen: 134.32 UP 0.338 //YEN DOWN 34 BASIS PTS//

USA dollar vs Canadian dollar: 1.3539 UP .0013 CDN dollar, DOWN 13 basis pts)

West Texas intermediate oil: 78.85

Brent OIL: 82.66

USA 10 yr bond yield DOWN 6 BASIS pts to 3.517%

USA 30 yr bond yield DOWN 5 BASIS PTS to 3.731%

USA 2 YR BOND: DOWN 4 PTS AT 4.1457%

USA dollar index: 101.10 DOWN 46 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 19.40

USA DOLLAR VS RUSSIA//// ROUBLE: 81.33 UP 0 AND 37/100 roubles

DOW JONES INDUSTRIAL AVERAGE: UP 66.96 PTS OR 0.20%

NASDAQ 100 DOWN 31.01 PTS OR 0.24%

VOLATILITY INDEX: 16.78 UP 0.01 PTS (0.06)%

GLD: $184.81 UP .56 OR 0.30%

SLV/ $23.O09 UP 0.11 OR 0.48%

end

USA AFFAIRS

1 a) USA TRADING TODAY IN GRAPH FORM

Bonds Bid, Stocks Skid As Debt-Ceiling Doubts Soar

MONDAY, APR 24, 2023 – 04:00 PM

The T-Bill curve is extremely dislocated following Friday’s “worst case scenario” tax receipts data…

And the debt ceiling anguish is most clear in the short-dated cost of protection against a technical default by The US – which has soared today to its highest level ever (far above the Great Financial Crisis, debt downgrades, and prior debt ceiling crises)…

Source: Bloomberg

While equity markets remained largely ignorant of this threat again today (Nasdaq was down today but The Dow and S&P managed small gains)…

All eyes will be on FRC’s earnings tonight after it rallied over 10% today (and is expected to swing +/- 23% after the earnings hit based on options pricing). Putting that 10% jump in context however…

The vol term structure shows the general level of anxiety ahead of rising with the data this week, FOMC next week, and then the imminent X-Date…

Source: Bloomberg

But we do note that with today’s release of the 1-day VIX, that 0-DTE traders lifted vol while (normal) VIX drifted lower from its spike open…

Source: Bloomberg

Notably, the big short squeeze from mid-April (post-Payrolls) is rapidly running out of steam with ‘most shorted’ stocks down again today…

Source: Bloomberg

Treasury yields tumbled today, erasing all of Friday’s spike, with the belly outerperforming…

Source: Bloomberg

Rate-hike expectations for next week rose to post-SVB highs (92% odds of +25bps)…

Source: Bloomberg

The dollar ended the day lower, back at last week’s lows. Notably, the dollar was bid during the Asia session then dumped in Europe and US…

Source: Bloomberg

Bitcoin touched $28,000 overnight, only to fall back to touch $27,000 this morning, and found support there…

Source: Bloomberg

Gold managed gains on the day but spot prices remain below $2000…

Source: Bloomberg

Oil prices bounced today, with WTI back above $79, after almost erasing all the post-OPEC+ production cut gains…

Finally, circling back to where we started, while vol has been drifting generally lower – ignoring the earnings avalanche, the debt ceiling, and FOMC uncertainty – Bloomberg notes that the price to hedge, as measured by the spread between implied volatility for puts and calls, is spiking and has climbed above the latest peak in March during the worst of the banking crisis.

Source: Bloomberg

The move suggests traders are bracing for bigger moves to the downside ahead.

END

.i b Morning trading:

Early morning trading:

II) USA DATA//

end

III) USA ECONOMIC STORIES

An excellent read as Stephen Jen describes that is happening around the world ie. a defund the global police (The Americans) as de dollarization is happening at a stunning pace

(zerohedge)

It’s A “Defund-The-Global-Police” Moment, Jen Says De-Dollarization Is Happening At A “Stunning” Pace

SUNDAY, APR 23, 2023 – 02:00 PM

Over the last few weeks, it has seemed that you can’t turn a page, blink at a pixel, or hear a news report without some form of de-dollarization headline shrieking at you. From Brazil to Saudi Arabia, and from India to Argentina, and increasing number of nations are ‘reportedly’ shifting away from the dollar hegemon.

Some recent headlines;

Eyeballing the Dollar Index (or some other broad index of fiat relativity) drops modest hints but the nature of the relationship of one un-backed currency against another makes that comparison worthless in the longer-term.

But below the surface, the dollar’s fecal matter is striking rotating objects at an increasing pace and Stephen Jen – infamous for his coining of the ‘dollar smile’ while at Morgan Stanley which posits that the US Dollar tends to do well when the economy is soaring or slumping – recently quantified just how rapidly the de-dollarization is ocurring.

Jen, who now runs money at Eurizon SLJ, warned in a recent briefing note, that the dollar is losing its reserve status at a faster pace than generally accepted as many analysts have failed to account for last year’s frantic swings in exchange rates.

“The dollar suffered a stunning collapse in 2022 in its market share as a reserve currency, presumably due to its muscular use of sanctions,” Jen and his colleague Joana Freire wrote.

“Exceptional actions taken by the US and its allies against Russia have startled large reserve-holding countries,” most of which are emerging economies from the so-called Global South, they said.

As The FT reports, Jen estimates that if you adjust for price changes the dollar’s share of official global reserve currencies has gone from about 73 per cent in 2001 to around 55 per cent in 2021.

Then, last year, it fell to 47 per cent of total global reserves.

Source: Eurizon SLJ Capital

Jen and Freire go on to ominously explain that the USD is losing its market share as a reserve currency at a much faster rate than is commonly believed.

“After steady declines in its global market share for the past two decades, in 2022 the dollar lost market share at a pace 10 times as rapidly. Analysts have failed to detect this big change because they calculate the nominal value of the world’s central banks’ dollar holdings without considering the changes in the price of the dollar. Adjusting for these price changes, the dollar, we calculate, has lost some 11 percent of its market share since 2016 and double that amount since 2008.

This erosion in the USD’s reserve currency status has accelerated precipitously since the start of the war in Ukraine. Exceptional actions taken by the US and its allies against Russia have startled large reserve-holding countries, most of which are from the Global South.

…Without the need for us to take sides in this debate on Ukraine, it seems reasonable to speculate that the main driver of the collapse in USD’s reserve status in 2022 may have reflected a panicked reaction to property rights being jeopardised. What we witnessed in 2022 was sort of a ‘defund-the-global-police’ moment, whereby many reserve managers in the world disagreed with the conduct of both Russia and the US.”

This is suddenly serious, as Jen and Freire argue that “The prevailing view of ‘nothing-to-see-here’ on the US dollar as a reserve currency seems too innocuous and complacent.”.

“What needs to be appreciated by investors is that, while the Global South is unable to totally avoid using the dollar, much of it has already become unwilling to do so.”

The greenback’s share in global reserves slid last year at 10 times the average speed of the past two decades as a number of countries looked for alternatives after Russia’s invasion of Ukraine triggered sanctions.

Moreover, as Jen stresses, there are actually two pillars that make the US dollar so mighty: its role as the reserve currency of choice, and its dominant use in global finance and trade. “Investors ought not be confused by these two different concepts,” he argues.

“While the Global South seems unwilling to continue to hold dollar assets, they do not seem to have the ability to divest from the US dollar as an international currency, particularly for financial transactions.

We suspect it will be very difficult to overcome the strong network effects that have been behind the dollar’s international currency status.

The key to topple the dollar’s throne as an international currency is predicated on the relative developments and stability in the various financial markets. If the financial markets outside the US could thrive (growing in size and becoming ever more energetic, without being unstable), and if the opposite happens in the US, the dollar could very well meet its demise.

This is, however, not an imminent risk, in our opinion, though the trends are heading in that direction.“

Still think it won’t or can’t happen, here’s George Soros… from 2009…

END

We can now sit “shiva” for this entity as they just filed for Chapter 11 bankruptcy/

(zerohedge)

Bed Bath & Beyond Files For Chapter 11 Bankruptcy

SUNDAY, APR 23, 2023 – 01:00 PM

After a years long struggle, Bed Bath & Beyond filed for Chapter 11 bankruptcy relief on Sunday in the U.S. District Court in New Jersey and said its estimated assets and liabilities are between $1 billion to $10 billion.

“We have made the difficult decision to begin winding down our operations,” the company said on its website Sunday.

“Bed Bath & Beyond and buybuy BABY stores and websites are open and serving customers.”

Bed Bath & Beyond was co-founded by Warren Eisenberg and Leonard Feinstein, who together opened two Bed ‘n Bath stores in 1971 in New York City suburbs.

Bed Bath & Beyond co-founders Warren Eisenberg, in pink, and Leonard Feinstein. Photo: Mary Beth Koeth For The Wall Street Journal

The Union, New Jersey-based home goods retailer, which shot to popularity in the 1990s as a go-to shopping destination for couples making wedding registries and planning for new babies, has seen demand drop off in recent years as its merchandising strategy to sell more store-branded products flopped.

As Reuters reports, last year’s moves to abandon that strategy, and to bring in more national brands that shoppers recognize, had not shown signs of working, with the company reporting a loss of about $393 million after sales plunged 33 percent for the quarter ending Nov. 26.

The retailer, which had some 955 stores and tens of thousands of employees as of a year ago, has undergone a desperate round of store closings as its business spiraled over the last several months.

“Bed Bath and Beyond has finally succumbed to the fact its business is broken and filed for bankruptcy,” GlobalData retail analyst Neil Saunders said Sunday in a written analysis.

“While management refused to go down without a fight, and explored every option to avoid bankruptcy, they simply could not defy gravity forever.

The company has 360 Bed Bath & Beyond stores and 120 buybuy Baby locations left.

Bed Bath & Beyond said that it has received a commitment of approximately $240 million in debtor-in-possession financing from Sixth Street Specialty Lending Inc., according to a separate statement.

As The Wall Street Journal reports, bankruptcy gives Bed Bath & Beyond the breathing room to conduct going-out-of-business sales at its physical stores and solicit interest from potential buyers for its remaining assets, such as its branding.

“Millions of customers have trusted us through the most important milestones in their lives – from going to college to getting married, settling into a new home to having a baby,” CEO Sue Gove said in a statement.

“Our teams have worked with incredible purpose to support and strengthen our beloved banners, Bed Bath & Beyond and buybuy BABY. We deeply appreciate our associates, customers, partners, and the communities we serve, and we remain steadfastly determined to serve them throughout this process. We will continue working diligently to maximize value for the benefit of all stakeholders.”

If a bidder emerges for the business in bankruptcy, Bed Bath & Beyond said it would pivot away from its liquidation plans to pursue a sale.

If Bed Bath & Beyond ends up completely liquidating, it would be one of the largest going-out-of-business sales of the last 15 years – joining a club that includes Circuit City and Toys “R” Us.

end

BALTIMORE

“Entire Downtown Is Effectively Dead:” Baltimore City Descends Further Into Turmoil

SATURDAY, APR 22, 2023 – 09:00 PM

Downtown Baltimore is plagued with shootings, carjackings, muggings, and out-of-control packs of teenagers wreaking havoc. Baltimore residents can thank five decades of Democrat politicians for mismanaging this once-thriving town.

Earlier this month, the Inner Harbor district was overrun by hundreds of teenagers that resembled an apocalyptic scene from a Hollywood or Netflix movie. The video below might provide some insight into why people are shunning the area, which caused a plunge in foot traffic, making it difficult for retail stores to survive.

This leaves us with local media outlet Baltimore Brew’s reporting about a mall situated on the waterfront, once popular with tourists and residents, had lots of activity, and is now nothing more than a ghost town.

“I knew this place had gone down. But I didn’t know it was this bad!” exclaimed Patel, a California software engineer who recalled eating at a restaurant in the waterfront mall about a decade ago. He said, “I remember it being pretty nice back then.”

All that’s left of the mall is a Hooters restaurant. Baltimore Brew’s pictures show almost every other store has moved out.

… and now, as the media outlet explains, what to do with this prized piece of commercial real estate?

That’s the question before Mayor Brandon Scott and other city leaders, who yesterday gave Harborplace’s new owner, MCB Real Estate, three years to figure out a plan.

Among the other terms of the amended lease that the Board of Estimates approved were three years of rent abatement and up to $1 million for future planning and other costs.

MCB co-founder P. David Bramble says he needs more time to devise a turnaround strategy. The board members who approved the deal did so without questions or comments. (Scott himself was absent from the meeting, attending an African American Mayors Association conference in Washington instead.)

“The entire downtown area is effectively dead,” one person said who commented on Baltimore Brew’s article. They pointed out:

“Who in their right mind would want to risk coming downtown when the news out of Baltimore is all about shootings, carjackings, mugging, and out-of-control packs of teenagers milling about on a semi-regular basis?”

Democrats and progressive leadership in the city have done a wonderful job of taking something nice and destroying it with terrible policy. The consequence is an exodus of businesses, and it’s not just a Baltimore problem. Metro areas with progressive leadership, like Chicago, San Francisco, and Portland, are finding businesses are leaving in droves.

end

Disney Workers Hit With Second Round Of Layoffs, Affecting Thousands

MONDAY, APR 24, 2023 – 03:25 PM

Last week, an internal memo from Walt Disney warned about the second round of layoffs that would impact thousands of positions across their TV, film, and theme park divisions, along with corporate groups in every area. A Bloomberg article now confirms that the second phase of job cuts begins today.

The second phase of the three-round job cut lasts until Thursday and is expected to eliminate 4,000 workers from its entertainment unit, theme parks, and experiences and product divisions.

Cuts are coming to all of the company’s divisions, stretching from the company headquarters in Burbank, California, to Connecticut, where its ESPN sports networks are based. Hourly workers at the theme parks will not be affected, the company said. –Bloomberg

Disney announced in February it planned to eliminate 7,000 positions from its 220,000 workforces, a move to save $5.5 billion per year.

“The difficult reality of many colleagues and friends leaving Disney is not something we take lightly,” Disney said in a statement.

Disney’s old and then-new again CEO, Bob Iger, came out of retirement in November to lead the restructuring efforts. He elevated key allies in the company, including Alan Bergman and Dana Walden, the co-chairmen of Disney Entertainment.

It appears that Disney overhired.

Disney shares have been halved since peaking in early 2021 and roundtripped to Covid lows.

The third round of layoffs is expected to occur sometime in the summer.

end

This latest from Michael Snyder is really good: the 5 economic disasters they he warned about in advance that are here now

(Michael Snyder)

5 Economic Disasters We Were Warned About In Advance That Are Happening Right Now

MONDAY, APR 24, 2023 – 07:20 AM

Authored by Michael Snyder via The Economic Collapse blog,

Our leaders were able to successfully kick the can down the road for a long time, but now many of our long-term problems are becoming short-term problems, and the economic outlook for the remainder of 2023 is extremely bleak. But none of the economic hardships that we are experiencing at this moment should shock any of us. The truth is that we were warned about all of these things well ahead of time.

Many independent voices have been warning us that there would be severe consequences for the exceedingly foolish economic decisions that our leaders were making, and now those severe consequences are starting to play out right in front of our eyes.

The following are 5 economic disasters we were warned about in advance that are happening right now…

#1 We were warned that a great commercial real estate crisis would be coming, and now it is here. In fact, we just witnessed another massive default…

With recent stress in the regional banking sector, sentiment in US commercial real estate (CRE) – and especially the office sector – has turned negative as investors prepare for potential spillover effects (with JPM, Morgan Stanley, and Goldman Sachs all joining the gloom parade), especially as high-profile defaults continue to make headlines as borrowers face higher debt service costs and refinancing becomes much harder ahead of a $400 billion CRE debt maturities this year alone.

The latest headline fueling concerns about a potential CRE crisis involves a fund belonging to CRE giant Brookfield defaulting on a $161.4 million mortgage for twelve office buildings in Washington, DC.

According to Bloomberg, the loan was transferred to a special servicer working with “the borrower to execute a pre-negotiation agreement and to determine the path forward.”

#2 We were warned that there would be widespread layoffs as economic conditions in the United States deteriorated. Sadly, that is now happening all around us. For example, on Monday accounting firm Ernst & Young announced that they will be laying off thousands of highly paid workers…

Ernst & Young said Monday that it would eliminate roughly 3,000 jobs from its US workforce as it pivots to address shifts in demand and “overcapacity” in sections of its business.

The cuts represent less than 5% of the US firm’s total workforce. EY described the workforce reduction as “part of the ongoing management of our business” and said it didn’t stem from the firm’s recent failure to implement a global breakup.

#3 We were warned that the largest corporate debt bubble in the history of the world would eventually burst, and now corporations are beginning to default on their debts at a rate that should deeply alarm all of us…

More companies around the world defaulted on their debts in the first three months of this year than in any quarter since late 2020, when businesses were still hamstrung by restrictions to stop the spread of Covid.

In a report Tuesday, credit rating agency Moody’s said 33 of the corporations it rates defaulted on their debts in the first quarter, the highest level since the last quarter of 2020 when 47 companies defaulted. Almost half, or 15 companies, defaulted last month — the highest monthly count since December 2020.

Defaulting firms included Silicon Valley Bank, which collapsed in March, its holding company SVB Financial Group and Signature Bank.

#4 We were warned that we would witness a dramatic surge in bankruptcies in 2023, and that is precisely what is happening…

Bankruptcy filings across the United States rose for the third straight month in March in all major industries. A total of 42,368 new bankruptcies were filed last month, according to data from Epiq Bankruptcy, a provider of U.S. bankruptcy court data, technology, and services.

This is 17 percent up from the 36,068 filings in March 2022 and is the highest number of monthly bankruptcy filings since April 2021.

Data from S&P Global Market Intelligence showed 71 corporate bankruptcy petitions in March, a jump from 58 in the previous month. This is the highest monthly total since July 2020 and the fourth straight month of increases.

#5 We were warned that the rest of the world would eventually start rejecting the U.S. dollar, and now “de-dollarization” is happening at a “stunning” pace…

The dollar is losing its reserve status at a faster pace than generally accepted as many analysts have failed to account for last year’s wild exchange rate moves, according to Stephen Jen.

The greenback’s share in global reserves slid last year at 10 times the average speed of the past two decades as a number of countries looked for alternatives after Russia’s invasion of Ukraine triggered sanctions, Jen and his Eurizon SLJ Capital Ltd. colleague Joana Freire wrote in a note. Adjusting for exchange rate movements, the dollar has lost about 11% of its market share since 2016 and double that amount since 2008, they said.

“The dollar suffered a stunning collapse in 2022 in its market share as a reserve currency, presumably due to its muscular use of sanctions,” Jen and Freire wrote. “Exceptional actions taken by the US and its allies against Russia have startled large reserve-holding countries,” most of which are emerging economies from the so-called Global South, they said.

Unfortunately, we are still only in the very early stages of this economic meltdown.

The general population is starting to understand that things have gone horribly wrong, and a CNBC survey that was just released discovered that Americans “have never been more negative about the economy” than they are at this moment…

Amid persistent inflation, higher interest rates and recession worries, Americans have never been more negative about the economy, according to the latest CNBC All-America Economic Survey.

A record 69% of the public holds negative views about the economy both now and in the future, the highest percentage in the survey’s 17-year history.

Even during the darkest days of 2008 and 2009 Americans were more optimistic about the future of the economy than they are right now.

Just think about that.

We are in really deep trouble.

Of course this new economic crisis will take some time to fully play out.

But it has officially arrived.

The months ahead are going to be filled with economic pain, and that is going to cause a tremendous amount of turmoil throughout our entire society.

end

The ever popular Tucker Carlson out at Fox along with Dan Bongino

(zerohedge)

Tucker Carlson Out At Fox

MONDAY, APR 24, 2023 – 11:36 AM

Tucker Carlson, the highest rated cable news host in history, is out at Fox News. The news comes days after the network cut ties with host Dan Bongino 48 hours after the network settled with Dominion Voting Systems for nearly $800 million.

“Fox News Media and Tucker Carlson have agreed to part ways,” reads a statement from the network, which thanks him for his service “as a host and prior to that as a contributor.”

According to the statement, Carlson’s last show was Friday, April 21st as he continued to dominate, and his slot will now be filled by ‘an interim show helmed by rotating FOX News personalities until a new host is named.”

Full statement from the network (emphasis ours),:

FOX News Media and Tucker Carlson have agreed to part ways. We thank him for his service to the network as a host and prior to that as a contributor. Mr. Carlson’s last program was Friday April 21st. Fox News Tonight will air live at 8 PM/ET starting this evening as an interim show helmed by rotating FOX News personalities until a new host is named. FOX News Media operates the FOX News Channel (FNC), FOX Business Network (FBN), FOX News Digital, FOX News Audio, FOX News Books, the direct-to-consumer streaming services FOX Nation and FOX News International and the free ad- supported television service FOX Weather. Currently the number one network in all of cable, FNC has also been the most watched television news channel for more than 21 consecutive years, while FBN ranks among the top business channels on cable. Owned by Fox Corporation, FOX News Media reaches nearly 200 million people each month.

Shares of 21st Century Fox dropped like a rock on the news (with the first red are reflecting the Dominion settlement).

Were Carlson and Bongino sacrificed as part of the settlement?

end

What Brookfield’s Default Has To Do With You

MONDAY, APR 24, 2023 – 12:25 PM

Authored by MN Gordon via EconomicPrism.com,

Over more than two decades we worked off and on in Downtown Los Angeles. We had a client for several years at 555 West 5th Street, in the tower at the base of Bunker Hill. We’d meet several times a week. Always in the morning.

Sometimes he would boast about his property in Coeur d’Alene, Idaho, and how he’d one day leave LA. Other times he’d deliver us a wire brushing for events beyond our control. One time he accused us of ‘smash and grab’ tactics for merely requesting payment of a past due invoice for contracted work that had already been delivered.

After these inspiring encounters we’d hike by the collection of derelicts and dope smokers sprawled out on the wall in front of the Central Library. This was as we made our way back to our office at the Wedbush Center on Wilshire Boulevard near Figueroa Street.

On the corner in front of the 7-Eleven a clown appeared one day. He had oversized shoes, a rainbow wig, face paint – the whole costume. All day every day, rain or shine, he was there, jumping around, waving at cars and buses, and fist bumping people walking by. Then, after about nine months, he was gone. We never saw or heard of him again.

One spring day in 2016, amongst a mob of pedestrians, we gazed up at the skeleton frame of what would become the Wilshire Grand Center. For the first time in several years the buzz and hum of diligent building activity was eerily silent. Construction efforts had been shut down for the day.

Sadly, less than 24 hours earlier a distraught electrician had taken a swan dive off the 53rd floor. The man’s death prompted an immediate work stoppage and evacuation of the tower.

“It sounded like a bag of cement fell off the edge of the building,” remarked one observer.

Naturally, the sound of impact was far too grim for us to contemplate. We didn’t have much of an appetite that day.

But out of habit, we stopped at the food court – FIGat7th – and ate something called a moon bowl. There, in the shadow of the tower at 777 South Figueroa Street, we wondered how time must have simultaneously slowed down and sped up for the jumper as he descended toward the ground.

Brookfield Defaults Again

This trip down memory lane was wandered with intent and purpose. Because this week Bloomberg reported that Brookfield Corporation, one of the largest commercial real estate companies in the world, has defaulted on $161.4 million of office building mortgages.

These office buildings are mostly in Washington, DC. However, this Brookfield default comes just two months after its much larger default of $784 million in mortgages for two office towers in Los Angeles. These include our old haunts at 555 West 5th Street and 777 South Figueroa Street.

The reasons behind the defaults are generally straightforward.

The double whammy of higher vacancy rates post-Covid and higher interest rates have turned these buildings from profit generating ventures into huge gaping money pits.

Here are the grim particulars from Bloomberg:

“In the Washington metro area, office property values have plunged 36 percent through March from a year earlier, on par with declines nationwide, according to the Green Street index.

“Among the dozen buildings in the Brookfield portfolio with the $161.4 million debt, occupancy rates averaged 52 percent in 2022, down from 79 percent in 2018 when the debt was underwritten, according to the report. Monthly payments on the mortgage’s floating-rate debt jumped to about $880,000 in April from just over $300,000 a year earlier as the Federal Reserve raised interest rates.”

In short, as rental income declined due to higher vacancy rates and monthly mortgage payments jumped over 190 percent, throwing good money after bad became untenable for Brookfield. Default was the better option.

Fake Insurance

The fact is there’s simply too much unused office space. This is not a situation that will magically change.

Maybe a savvy developer will come in and complete an office-to-residential conversion. But that’s not Brookfield’s game. And whoever does it will only take the risk at a much lower price and with much better terms.

In the meantime, who loses?

According to Federal Reserve data, and as noted by Fortune, 67 percent of all commercial real estate loans are held by small banks and regional banks. Consequently, more debt defaults in the commercial real estate market could lead to more small and regional bank blowups.

If you have deposits under $250,000 in a bank that goes bust, you are protected by the Federal Deposit Insurance Corporation (FDIC). But how safe is your money, really?

At the end of 2022, the FDIC reported its Deposit Insurance Fund had a balance of $128 billion. This comes to a reserve ratio of 1.27 percent of the total insured deposits.

By our estimation, insurance reserves of 1.27 percent of potential obligations are not real insurance. Rather, these reserves are fake insurance that pays for an extremely fragile trust which says, ‘if you don’t pull your deposits, I won’t pull mine.’

In a real panic, FDIC reserves would be vaporized in less than a day.

Presumably, some of these bad mortgages have been packaged up in tranches as collateralized loan obligations (CLOs) and sold to pension funds and other investors. Could this be the initial alarm bell of a financial crisis akin to the mortgage-backed securities (MBS) crisis of 2007-09?

If the report from the $306 billion California State Teachers’ Retirement System (CalSTRS) is any indication, then the answer is a definitive yes. Specifically, this week it was revealed that CalSTRS is preparing to write down the value of its $52 billion commercial real estate portfolio.

From what we can tell, these bad investments were not made via CLOs. Nonetheless, you can already smell the rot buried in commercial real estate CLOs. We’ll have to do some more digging to unearth the decay.

What Brookfield’s Default Has to Do with You

Today, however, there’s a more important question to answer. What does Brookfield’s default on these commercial properties have to do with you?

You may not yet realize it. But these defaults have everything to do with several unfavorable factors that are currently working against you. These include elevated consumer price inflation and relatively higher financing costs. And here’s how they’re making your life less agreeable…

The two most common purchases by the average person that require financing are for automobiles and houses. Relatively higher interest rates make the debt payments on these purchases incredibly burdensome.

Consider automobiles, for instance. According to the Washington Post:

“The average interest rate for a new vehicle was 7 percent in the first quarter, compared with 4.4 percent a year earlier. That’s the highest level since 2008, according to new data from Edmunds, a car shopping website. For used vehicles, the average jumped from 7.8 percent to 11.1 percent.”

This is why the monthly payment for roughly 17 percent – or about 1 in 6 – of new vehicle loans in Q1 2023 was over $1,000 bucks.

At that price it really doesn’t matter what your income level is.

One thousand dollars a month for a car payment is a significant pile of money. So, too, is $730 per month, which was the average monthly payment for a new vehicle in the first quarter.

In all seriousness, do not sign up for one of these monster car payments. This will ruin your life for decades to come. Sooner or later, something must give in the way of lower car prices. Don’t lock yourself in to this misery.

Not only does a monster car payment cut into people’s monthly budgets. It also limits their ability to save and invest for the future. And if people aren’t saving and investing for the future, they’re not building wealth. To the contrary, like Brookfield, they’re burning wealth.

To this end, we have a hunch that over the next couple of years vast numbers of people are going to experience the rush that comes when time simultaneously slows down and speeds up.

Not because they’ve committed a base jump off a skyscraper – though some will.

Rather, it’ll occur at the precise moment they come to the disturbing realization that they’re broker than broke.

* * *

USA COVID//

END

SWAMP STORIES

Three commentaries for you tonight, all indicate possible impeachment of Biden, Garland and Blinken

(zerohedge)

Biden Impeachment? Top Republican Says IRS Whistleblower, Chinese ‘Collusion’ And Hunter Laptop Letter Hoax “Tip Of The Iceberg”

SATURDAY, APR 22, 2023 – 03:00 PM

A Republican member of the House Oversight Committee thinks a flurry of recent corruption scandals could lead to the impeachment of President Joe Biden.

Between the revelation that the ‘Hunter laptop letter hoax‘ signed by 51 current and former intelligence officials was created at the best of Antony Blinken during the 2020 US election, the obvious implications of CCP leverage over the Biden family, and information presented by an IRS whistleblower regarding the Hunter Biden probe, things may get interesting according to Rep. Tim Burchett (R-TN).

When asked about China’s influence over the Biden family, Burchett told Fox News‘ Maria Bartiromo on Friday: “We know of at least eight Biden family members who have profited from dealings overseas,” adding “I think if you delve into it deep enough, there’s prostitution rings involved in this, human trafficking has been rumored to be part of some of this. These so-called companies that have allowed the Biden family to profit. It is gross, and it is disgusting.”

“If I was those 51 people, I’d be lawyering up right now because they’re going to be asked in public at some point what they knew and if they knew that all this other stuff was going on, because it is very damning Maria. This is just the very tip of the iceberg,” he continued.

“This very brave IRS agent coming forward, I think, will just start it,” Burchett said, referring to the senior agent in charge of the Hunter Biden investigation who came forward earlier this week in a letter to lawmakers, accusing the DOJ of ‘mishandling’ the Hunter Biden case, and that his client had information that would contradict sworn testimony from a senior political appointee.

When asked if that might lead to an impeachment, Burchett said: “If this coverup shows what’s going on, what we assume is going on, and that the 51 folks were basically lied to and showed false documentation, how can you not…“

The lawyer for the whistleblower joined “Special Report with Bret Baier” Thursday night claiming his client is “not a political person” and does not have a “political agenda,” but does have documents to support his allegations that he hopes to bring to both congressional Democrats and Republicans.

“If you delve into it deep enough, there’s prostitution rings involved in this. Human trafficking has been rumored to be a part of some of these so-called companies that have allowed the Biden family to profit. It is gross and it is disgusting about what has been allowed to go on,” Burchett said. –Fox News

“I cannot imagine how the Justice Department allowed this to go on, if not for corruption at the highest level. And they are in some serious trouble right now. I think they know it,” Burchett continued.

When it comes to China, Burchett said: [China has] so much invested in this White House now, that their cover-up upon cover-ups will continue. But I can assure you that the American people understand what’s going on,” adding “And I can assure you that [Oversight] Chairman Comer and Chairman Jordan are steering this in the right direction. As I stated before, this is complete collusion with the communist Chinese. They bought and sold this White House.”

end

Bragg Drops Case Against Jordan, Allowing House GOP To Depose Ex-Manhattan Prosecutor

SATURDAY, APR 22, 2023 – 06:30 PM

Authored by Gary Bai via The Epoch Times (emphasis ours),

Manhattan District Attorney Alvin Bragg has dropped his effort to quash a congressional subpoena to a former prosecutor who worked in his office, a congressional aide told The Epoch Times in a statement on Friday.

“This evening, the Manhattan District Attorney’s Office withdrew its appeal in Bragg v. Jordan. Mr. Pomerantz’s deposition will go forward on May 12, and we look forward to his appearance,” Russel Dye, spokesperson for Rep. Jim Jordan (R-Ohio), chair of the House Judiciary Committee, wrote to The Epoch Times in a statement.

“Bragg caved. Jim Jordan won,” the House Judiciary Committee wrote in a statement on Twitter Friday.L: Manhattan District Attorney Alvin Bragg outside the Manhattan Federal Court in New York, April 4, 2023. (Angela Weiss/AFP via Getty Images) R: Rep. Jim Jordan (R-Ohio) in Washington, on July 21, 2021. (Anna Moneymaker/Getty Images)

The development wrapped up a legal clash between Bragg and House Judiciary Republicans, whereby Bragg had attempted to stop the lawmakers from requesting testimony from Mark Pomerantz, a former prosecutor who investigated former President Donald Trump’s finances. Pomerantz left Bragg’s office in February 2022 in protest of Bragg’s initial unwillingness to bring an indictment against Trump.

A grand jury, encouraged by Bragg, brought an indictment against Trump in late March, prompting Jordan to initiate a probe into what he calls a “politically motivated” prosecution against a former president. Jordan subpoenaed Pomerantz to seek his testimony as a part of that probe. In response, Bragg sued the House Judiciary Committee and Pomerantz to prevent Pomerantz from testifying.

That lawsuit led to a hearing on Wednesday in the Southern District Court of New York, and a subsequent decision by District Judge Mary Kay Vyskocil, a Trump appointee, ordered that the congressional panel has the authority to become involved in the investigation of Trump and declined Bragg’s request for a court injunction on the congressional subpoena.

Bragg wrote in a court filing that he intended to appeal the lower court’s decision to the 2nd Circuit Court of Appeals on April 19. On the same day, the court issued a temporary administrative hold on the return date of the House Judiciary Committee’s congressional subpoena of Pomerantz. This administrative hold did not reflect the court’s opinion on the merit of Bragg’s case, the court indicated in an April 19 filing, but serves as a short pause as the court considers whether to extend the freeze on the subpoena as Bragg appeals the case.

A three-judge panel was originally scheduled to decide early next week on this matter.

Bragg on Friday dropped the appeal, wrapping up the legal contention between him and the House lawmakers.

“Our successful stay of this subpoena blocked the immediate deposition and afforded us the time necessary to coordinate with the House Judiciary Committee on an agreement that protects the District Attorney’s privileges and interests. We are pleased with this resolution, which ensures any questioning of our former employee will take place in the presence of our General Counsel on a reasonable, agreed upon timeframe. We are gratified that the Second Circuit’s ruling provided us with the opportunity to successfully revolve this dispute,” Bragg’s office wrote in a statement on Friday on Twitter.

Judge’s Comments

During the district court hearing on Wednesday, the court affirmed the congressional lawmakers’ position that requesting Pomerantz’s testimony serves a valid legislative interest and that Pomerantz, due to his own conduct, is not protected by confidentiality privileges.

In her order, Vyskocil agreed with the congressional lawmakers’ reasoning that testimony by Pomerantz can help inform current and pending legislation. This includes a bill that, if enacted into law, would bar the use of federal funds to investigate a sitting or former president (the Accountability for Lawless Violence In our Neighborhoods, or ALVIN, Act) and another that would allow Congress to remove an action or prosecution against a former president (H.R. 2553).

“It is not the role of the federal judiciary to dictate what legislation Congress may consider or how it should conduct its deliberations in that connection,” the judge wrote, adding that the U.S. Constitution protects lawmakers from litigation when their actions serve a valid legislative interest.

Read more here…

end

The Garland, Blinken, And Morell Morass

SUNDAY, APR 23, 2023 – 11:30 PM

Authored by Roger Kimball via AmGreatness.com,

Doubtless your mother used to tell you to count your blessings. It was good advice.

Your situation may be bad. In the case of the United States, things indisputably are bad, and worsening. You know that. But look on the bright side.

Sure Merrick Garland, the first American Gothic attorney general of the United States, is a partisan horror show, withholding real protection from Supreme Court justices who are threatened by violent criminals even as he stigmatizes as “domestic terrorists” parents who criticize their local school boards and orders the FBI to conduct dawn raids on critics of the regime. He is a horrible man and a dangerous partisan hack, the very instantiation of the two-tier application of the law that has made such a mockery of justice during Biden’s tenure.

But again, look on the bright side. Garland will soon be gone. And remember, he almost made it to the Supreme Court. Obama nominated him in the waning days of his administration. But Donald Trump had other ideas and—let’s give credit where credit is due—Senate Minority Leader Mitch McConnell (R-Ky.) made sure that Garland’s nomination got lost when Republicans held the majority. I am no fan of McConnell’s, but I try to remember to say a little prayer for him whenever I list my intentions. By scotching Garland’s ascension to the Court, McConnell did the country a huge favor.

I say Garland will “soon” be gone. Most of my readers will assume I mean on or about January 20, 2025, when the next Republican president assumes office.

It might take that long. But recent developments have me wondering whether he might make his congé even earlier.

A few days ago, it was reported that an unnamed, senior IRS special agent was seeking whistle-blower status in connection with the ongoing investigation of First Son Hunter Biden, who has serious tax problems.

According to a letter from the agent’s lawyer to several House and Senate committees, the agent laid out multiple examples of “preferential treatment and politics improperly infecting decisions and protocols that would normally be followed by career law enforcement professionals in similar circumstances if the subject [i.e., Hunter Biden] were not politically connected.”

The agent’s allegations also “contradict sworn testimony to Congress by a senior political appointee” and “involve failure to mitigate clear conflicts of interest in the ultimate disposition of the case” against Hunter Biden.

An “unnamed senior political appointee,” eh? Well, that unnamed status didn’t last long. On Thursday, the New York Post reported that the international man of mystery was none other than Merrick Garland himself.

Back in March, Garland had insisted to Congress that the investigation into Hunter Biden’s extracurricular activities was free from political interference. David Weiss, the U.S. Attorney investigating the case, had full autonomy, Garland said. Quoth Garland, “The U.S. attorney has been advised that he has full authority to make kind of those referrals you’re talking about or to bring cases in other jurisdictions if he feels it is necessary, and I will assure that if he does, then he will be able to do that.”

It was not reported whether that claim was greeted with titters. I assume that the echoing claim from the White House, that the investigation would be “free from any political interference by the White House,” was greeted by at least restrained and incredulous laughter.

Thierry Monasse/Getty Images

What does it all portend? Probably about the same thing that the revelation last week regarding Secretary of State Antony Blinken portends. Blinken, it transpired, was the origin of the campaign against the story, first reported by the New York Post, about Hunter Biden’s “laptop from hell.” Forget about the salacious bits—the drugs, the guns, the whores. More damaging were the emails detailing some of the Biden family’s corrupt business dealings with various foreign entities, dealings that clearly implicated the “Big Guy,” Joe Biden.

The Post bombshell was detonated a scant two weeks before the 2020 presidential election. It promised disaster for the Biden campaign. What to do? Remember the 51 former intelligence specialists, including such senior figures as former CIA director John Brennan and Director of National Intelligence James Clapper, who signed a letter testifying that the laptop bore “all the classic earmarks of a Russian information operation”?

According to the sworn testimony of Michael Morell—a senior Democratic operative—it was he, working hand-in-glove with Blinken, then a Biden campaign official, who organized the letter and helped shut down the story.

Why did he do this?

Two reasons.

He wanted to help Joe Biden in his debates with Donald Trump, so he wanted the story buried. Beyond that, he said, he wanted Biden “to win the election.”

What better way to help than to use the power of the state to censor the media and thereby suppress an unflattering story, one that would probably have altered the outcome of the election?

It is possible that both Garland and Blinken will have to answer for their alleged malfeasance. Both might easily be impeached and forced from office.

If they are, it will be a signal that the Regime is about to expel Joe Biden and find another candidate for 2024. I don’t really expect that to happen, though anything is possible in this increasingly yeasty situation. More likely, I think, is that our deeply ensconced two-tier system of “justice” will prevail, just as it is, for the benefit of Hunter Biden.

More’s the pity, but the longer such outrages continue, the more definitive the reverse peristalsis of swampy denizens in Washington, D.C. will be in November 2024.

end

On the same subject as above:

(Matt Taibbi)

Taibbi: News Blackout In Effect

SUNDAY, APR 23, 2023 – 06:30 PM

Authored by Matt Taibbi via Racket News,

An all-time media blackout is in effect. We’re experiencing real-time Sovietization.Left, most recent search results for “Morell” in the New York Times. Right, Google News.

It transpires that the infamous incident before the 2020 election in which 50 former intelligence officials signed an open letter declared a New York Post expose about Hunter Biden’s laptop to have the “classic earmarks of a Russian information operation” was instigated at the behest of the Joe Biden campaign. This at least is the allegation in a letter to Secretary of State Anthony Blinken released by Jim Jordan, chair of the House Judiciary Committee, and Subcommittee on the Weaponization of Government.

In that letter, which is not easy to find, you’ll see three snippets of dialogue from questioning of Morell, who appears to have organized the open letter. In the first snippet, he explains that the idea originated with a call from Blinken, then of the Biden campaign, and that absent that call, Morell wouldn’t have done what he did:

In the second snippet Morell bluntly explains that he did it because “I wanted him to win,” him being Joe Biden:

By any marker, this is an enormous news story. If we go by the usual measuring stick of American scandal, the Watergate story, this potentially meets or exceeds that, on almost every level. Does it reach into the current White House? Check. Was it a craven attempt to subvert the electoral process? Check again. Did a presidential candidate engineer a massive public deception? Yes, resoundingly. Did it involve intelligence agencies? Yes, and these weren’t amateurs like Nixon’s plumbers. These were 50 of the most powerful people in the intelligence world — including five former heads or acting heads of the Agency in Morell, John Brennan, Leon Panetta, Michael Hayden, and John McLaughlin — conspiring to meddle in domestic politics on a grand scale.

The seriousness of the actual laptop story, at least what’s been disclosed so far, is still not clear. I’ve long thought the suppression of it by Facebook and Twitter had clearer import, being a historic censorship first. However, if it can be proven that this “Russian Disinfo” whopper was laid on the public at the behest of the Biden campaign, with the aid of the intelligence community, that escalates things to a new level of scandal, far above the censorship issue.

Temporarily, however, that may be obscured by the absolute corruption of American media. Outside of conservative outlets, who naturally are eating it up, there were exactly two serious stories done about this on the national level in an appropriate response time. One was in CNN and was at least relatively down-the-middle, though humorously it did quote a Democratic Party spokesperson from the Weaponization Committee saying, “Jim Jordan has released cherry-picked excerpts of a transcribed interview.” The same Democrats from the same Committee also called my testimony “cherry-picked,” and also called the testimony of three FBI whistleblowers “cherry-picked.” The inevitable end-of-year Matt Orfalea “cherry-picked” video will be epic.

Subscribers to Racket can read the rest here…

end

THE KING REPORT

The King Report April 24, 2023 Issue 6975

Independent View of the News

April S&P Global US Manufacturing PMI 50.4, 49.0 exp, 49.2 prior
April S&P Global US Services PMI 53.7, 51.5 exp, 52.6 prior
April S&P Global US Composite PMI 53.5, 51.2 exp, 52.3 prior

ESMs oscillated between modest gains and losses during Asian trading on Friday. After China closed at 2 ET, ESMs sank until 3:44 ET. After a 14-handle rally, ESMs commenced a decline at 5:40 ET. ESMs and stocks bottomed at the 7 ET US repo market opening.

ESMs then rallied 19 handles by 9:24 ET; the usual suspects got long for the expected NYSE opening rally. However, after the stronger than expected S&P Global US PMIs, ESMs and stocks tumbled until 10:00 ET. Conditioned traders bought the dip. Someone jammed ESMs 21 handles higher by 10:27 ET.

Sellers reappeared; ESMs and stocks tumbled. ESMs lost 23 handles by 10:44 ET and created a new daily low. However, Friday was April options expiration, and the usual suspects were not going to go gently into the night. After a spike higher, ESMs and stocks started trading in a wide range.

Near 13:45 ET, ESMs and stocks broke higher. Traders got long for the Friday afternoon rally and the probable late upward manipulation for expiration. The rally peaked at 14:12 ET, just before the VIX Fix. The retreat ended near 14:47 ET. When the final hour arrived, someone juiced the ESMs.

The rally was modest and quickly terminated; ESMs sank 9 handles in 8 minutes. Another rally attempt began at 15:20 ET. An A-B-C rally took ESMs 11 handles higher into the close.

Chile Stuns Markets and EV Makers By Nationalizing Lithium Industry Overnight
The nationalization poses a fresh challenge to electric vehicle (EV) manufacturers scrambling to secure battery materials, as more countries look to protect their natural resources. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020…
https://www.zerohedge.com/markets/chile-stuns-markets-and-ev-makers-nationalizing-lithium-industry-overnight
   @elonmusk: Lithium ore is very common throughout Earth. What matters is refining capacity.
   @vtchakarova: China hosts 60% of the world’s lithium refining capacity for batteries.

TikTok’s Algorithm Keeps Pushing Suicide to Vulnerable Kids
The superpopular app can serve up a stream of anxiety and despair to teens. TikTok says it’s making improvements but now faces a flood of lawsuits after multiple deaths.
https://www.bloomberg.com/news/features/2023-04-20/tiktok-effects-on-mental-health-in-focus-after-teen-suicide

Positive aspects of previous session
The Friday afternoon/expiry rally appeared.

Negative aspects of previous session
Bonds declined; gasoline rallied modestly.

Ambiguous aspects of previous session
Why did equities struggle during expiry week and earnings season?

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]: 4128.46
Previous session High/Low: 4138.02; 4113.86

Chase warns Chicago employees about potential for more downtown disturbances
Several large employers are cautioning their workers about the potential for more downtown disturbances Friday and Saturday night…
https://wgntv.com/news/chicagocrime/chase-warns-chicago-employees-about-potential-for-more-downtown-disturbances/

Naftogaz held talks with US oil companies about energy projects in Ukraine – FT
Ukrainian state-owned gas company Naftogaz has held talks with Exxon Mobil Corp, Halliburton and Chevron about projects in Ukraine as the country looks to lure back foreign investment to its energy sector the Financial Times reported on Friday…  https://www.reuters.com/article/ukraine-naftogaz-idAFL1N36O2N7

Today – Expiry week and Q1 reporting season to date has disappointed bulls and conditioned traders.
Microsoft and Google report tomorrow; Meta reports Wed; AMZN reports Thursday. The Street expects soft results, which could impede the usual Monday rally. The rally into earnings season tends to peak after most Fangs have reported results. So far, this rally has been muted. This implies that a relief rally in individual Fangs could occur if results are in-line, better, or only modestly disappointing.

If stocks do not soon rally robustly, it’s highly likely that stocks will suffer a spirited decline, which could be amplified by traders trying to front run the “sell in May and go away” seasonal pattern.

Expected economic data: March Chicago Fed National Activity Index -0.20; April Dallas Fed Mfg. Activity -11.0; Fed in blackout period for May 2-3 FOMC Meeting

ESMs are -10.25 and USMs are flat at 20:15 ET. Expected earnings: KO .65, WHR 2.19, PKG 2.26

S&P 500 Index 50-day MA: 4034; 100-day MA: 3999; 150-day MA: 3930; 200-day MA: 3958
DJIA 50-day MA: 33,093; 100-day MA: 33,372; 150-day MA: 32,714; 200-day MA: 32,596

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 3908.70 triggers a sell signal
Daily: Trender and MACD are positive – a close below 4084.70 triggers a sell signal
Hourly: Trender and MACD are negative – a close above 4154.14 triggers a buy signal

@MikeBenzCyber: The Michael Morrell scandal that broke this week is worse than it looks (and it already looks bad). Morrell was one of the 7 CIA directors on the board of the Atlantic Council, who DHS deputized to censor the 2020 election, & who was partnered with Burisma.

@greg_price11: Here is a clip from the second presidential debate in 2020 in which Joe Biden tells America that the story of his family profiting off of China is “Russian disinfo,” a completely false story that was organized by his campaign by intel officials who wanted him to win. https://t.co/w88vaGwez2

NY Post’s @mirandadevine: I always was struck by how quickly the US knew it was Bin Laden. Morell being the top CIA analyst who briefed Bush. So, if the CIA knew, why didn’t they stop 9/11? And I do know this is old ground but Morell’s shenanigans since he left the CIA draw the spotlight back 22 years.

The latest NBC News Poll: 70% of voters don’t want Joe to run for re-election. 53% of 2020 Biden voters say he shouldn’t run. 64% of Democrats who voted for Sanders or Warren in the 2020 primaries think he shouldn’t run. 76% of voters under 35 think he shouldn’t run. (Joe’s only hope is to face DJT!)
https://twitter.com/RNCResearch/status/1650135609682345988
https://www.documentcloud.org/documents/23786178-nbc-april-2023-poll?responsive=1&title=1

WSJ Editorial Board: Biden’s Second-Term Mistake (ABC’s “This Week” covered this on Sunday.)
Age is only one of the reasons the President shouldn’t run again
   Electing an octogenarian in obvious decline for another four years could be an historic mistake… It’s impossible to know Mr. Bidens’ real physical and mental state because the White House goes to great lengths to hide it. But his decline is clear to anyone who isn’t willfully blind…
https://www.wsj.com/articles/bidens-second-term-mistake-23dd7cbe

The WaPo on Thursday: “The national Democratic Party has said it will support Biden’s reelection, and it has no plans to sponsor primary debates.” (Everyone knows Joe is cognitively deficient!)

FBI reportedly sees ‘growing frustration’ that Hunter Biden still uncharged (by DoJ prosecutors)
NBC, citing two sources, reported that the FBI — whose Baltimore field office has led the Hunter Biden investigation — “finished the bulk of their work on the case about a year ago.” One source added that the IRS finished its investigation of the first son more than a year ago…
https://nypost.com/2023/04/21/fbi-sees-frustration-that-hunter-biden-still-uncharged-report/

Hunter Biden’s attorneys to meet with Justice Department this week
The possible charges are two misdemeanor counts for failure to file taxes, a single felony count of tax evasion related to a business expense for one year of taxes, and the gun charge, also a potential felony, NBC News reported, citing sources…  https://trib.al/Hp5RrEU

FBI closes in on TWO DOZEN gamers in Pentagon leaker’s Discord group – including RUSSIANS – as it emerges disgraced airman, 21, ‘had been sharing files since Ukraine War started’
https://www.dailymail.co.uk/news/article-12001523/FBI-closes-TWO-DOZEN-gamers-Pentagon-leakers-Discord-group-including-RUSSIANS.html

Alleged docs leaker Jack Teixeira may have shared classified info since start of Ukraine war: report https://t.co/4h1vDlgxWg

Are the FBI, CIA, NSA, and DoD so inept and so distracted trying to implement wokeism that they failed to detect the leaker and gamers’ classified file sharing for over 1 year?!?!

@AP: The Pentagon has deployed forces and is developing options to assist in the possible evacuation of U.S. Embassy personnel from Sudan, but the White House said there are no plans for now for a broader pullout of the potentially thousands of other Americans. (Ala Afghanistan) https://t.co/yowJVAwWyn

Bronx Judge Naita Semaj to be yanked off criminal cases
The notoriously lenient Bronx judge under fire for putting an accused child-killer back on the street will be yanked off criminal cases and moved to civil court by next week…
https://nypost.com/2023/04/21/bronx-judge-naita-semaj-to-be-yanked-off-criminal-cases-sources/

Tennessee Republicans demand FBI release Audrey Hale manifesto amid stalled investigation https://t.co/baH9C7yalN

Audrey Hale manifesto a ‘blueprint on total destruction’ say pols, who claim FBI is stalling its release – “I think they are hesitant to do it because they are afraid of a violent backlash against that protected class of people.”…
https://nypost.com/2023/04/20/audrey-hale-manifesto-blueprint-on-destruction-say-pols-who-claim-fbi-stalling-release/

Motive for massacre: Louisville bank shooter Connor Sturgeon wrote chilling 13-page manifesto laying out his THREE reasons for killing spree: To prove how easy it is to buy a gun, highlight America’s mental health crisis…and kill himself… Sturgeon’s family revealed the commercial development specialist had mental health problems and was on medication… had ‘concussion issues’…
https://www.dailymail.co.uk/news/article-11995155/Louisville-bank-killer-left-13-page-manifesto-revealing-three-motives-shooting.html

Harvard Medical School @harvardmed: Researchers found that in-person interactions with friends, family, and health care providers during the pandemic were associated with fewer mental health concerns http://hvrd.me/Qz6r50NNUl8
    @MarinaMedvin: Harvard had to learn about human nature the hard way. What a joke.

The left thinks your kids should be the leaders in parenting and this is what it means for America
Permissive parenting is the left’s newest, totalitarian way to separate the family unit
    This political dimension happening in parenting is there because the left forces a political dimension to absolutely everything. Corporations, institutions, government agencies were all ideologically captured over the past decade. That ideological capture is aimed at children now. It’s why the battle over ideology in schools has become so prevalent…
    Convincing parents that they don’t have control over their own kids, that the child’s body autonomy outweighs everything, is a way of separating the family unit. A family in disarray is much easier to control… It’s exactly what totalitarian societies of the past have done so that they gain control of the population… Raising resilient children begins with a confident parent doing what’s best for their child…
https://www.foxnews.com/opinion/left-thinks-your-kids-should-leaders-parenting-what-means-america

@ColumbiaBugle: Tucker Carlson During Speech at Heritage Explains How to Understand What the People Wrecking Our Country Are Doing – “None of this makes sense in conventional political terms.”
“When people. . .decide that the goal is to destroy things, destruction for its own sake, ‘hey let’s tear it down,’ what you’re watching is not a political movement, it’s evil.“… https://t.co/qFZOZtjAvg

Florida LGBT Group Cancels Pride Parade After City Says No Kids Allowed (Very revealing!)
Generally, one would expect parents to have the good sense to keep their kids away. But the existing ideological dynamic has made the sexaulization of children into a political tool…
https://www.zerohedge.com/political/florida-lgbt-group-cancels-pride-parade-after-city-says-no-kids-allowed

Carlson, echoing what we recently wrote, averred that the organizing principle of the Democratic Party is dependency on the state, which is the reason that they encourage and allow illegal immigration.

Obama, Bush and Clinton have started an NGO to fly migrants into the US
The new NGO is reportedly teaming up with Welcome US (Soros-linked) to raise money for migrants from Cuba, Haiti, Venezuela, Ukraine and Nicaragua to be flown into communities across the country.
https://justthenews.com/events/obama-bush-and-clinton-start-non-governmental-organization-fly-migrants-across-us

“The whole gospel of Karl Marx can be summed up in a single sentence: Hate the man who is better off than you are. Never under any circumstances admit that his success may be due to his own efforts, to the productive contribution he has made to the whole community.  Always attribute his success to the exploitation, the cheating, the more or less open robbery of others…
   This basic hatred is the heart of Marxism. This is its animating force. You can throw away the dialectical materialism, the Hegelian framework, the technical jargon, the “scientific” analysis, and millions of pretentious words, and you still have the core: the implacable hatred and envy that are the raison d’etre for all the rest…” From Henry Hazlitt’s article “Marxism in One Minute”
https://www.aei.org/carpe-diem/quotation-of-the-day-on-marxism/

@oldbooksguy: Only Ayn Rand was smart enough to predict that incompetence and an ENVY for excellence will lead to dystopian social outcomes. Orwell thought we’d need total mind control, Huxley thought we’d need a permanently drugged populace, but Rand knew: all you need is resentment.

@RNCResearch: Kamala Harris says “climate anxiety” is plaguing Americans — “the emotional, the psychological, the mental toll that the knowledge about this crisis is taking on our young people.”
https://twitter.com/RNCResearch/status/1649841817574162442

Robert F. Kennedy Jr. argues American middle class ‘systematically’ wiped out under COVID-19 lockdowns https://t.co/CyHTefbceY

@michaelpsenger: Robert F Kennedy Jr: “Turnkey totalitarianism… The minute they hand you that vaccine passport, every right that you have is transformed into a privilege contingent upon your obedience to arbitrary government dictators… What do we do about this? We resist.”
https://twitter.com/michaelpsenger/status/1650154362998763522

@CurtisHouck: White House Press Secretary Karine Jean-Pierre says House Republicans wants “to fill our cities with smog,” “give asthma to” kids, “poison…children,” & allow “oil companies to use toxic chemicals that cause severe burns, damage people’s eyes, and quite literally melt bones.” (Evil!)
https://twitter.com/CurtisHouck/status/1649470235605364736

@CurtisHouck: Trump releases a lengthy statement trashing DeSantis, claiming he’s made “Florida…one of the least affordable states,” “raised taxes…$1.5 billion,” & one of the worst states to work, retire, raise kids, crime, rent, give birth, die, be a cop, teach, & pay energy bills
https://twitter.com/CurtisHouck/status/1649480310050922504
     @MarinaMedvin: No one believes this. Trump is having desperation delirium. But ask yourself why— I haven’t seen any polls showing DeSantis take Trump in the primary. So why exert so much energy on beating the guy who, per your own data, isn’t a serious contender… unless, of course, Trump knows something he hasn’t told us. The only reason I think DeSantis DEFINITELY takes the primary, despite all the polls, is because I see things like this from Trump… DeSantis is going to win the primary. There’s no other rational explanation for Trump’s behavior. (Why did DJT move to Florida?)

@MattWolking: Trump is now attacking his own pollster, poor Tony Fabrizio, for conducting the poll for the Wall Street Journal that found Trump LOSING to Biden … and DeSantis BEATING Biden.
https://twitter.com/MattWolking/status/1649770743008317442/photo/1

Trump’s Pollster Finds DeSantis Leading Biden and Biden Leading Trump
https://www.nationalreview.com/corner/trumps-pollster-finds-desantis-leading-biden-and-biden-leading-trump/

@MattWolking: Trump just cited the pro-BLM, Zuckerberg-funded National Low Income Housing Coalition, a member of the George Soros-funded Alliance for Justice, in order to attack Governor DeSantis and trash the state of Florida. What happened to Donald Trump?

Donald J. Trump @realDonaldTrump Jan 24, 2020: China has been working very hard to contain the Coronavirus. The United States greatly appreciates their efforts and transparency. It will all work out well. In particular, on behalf of the American People, I want to thank President Xi!

Numerous pundits opine that Trump is attacking DeSantis because DJT cannot run on his record.

@DeSantisWarRoom: Gov Ron DeSantis: “Leaders take the bull by the horns and make the decisions for themselves. They don’t subcontract out their leadership to health bureaucrats like Dr. Fauci.”
https://twitter.com/DeSantisWarRoom/status/1649822407333498883

DeSantis: FBI and DOJ are not ‘independent,’ Republican president must use ‘proper oversight’
“I think Republican executive in particular, you know, you’ve got to be exercising proper oversight and holding those agencies personally accountable… it’s wholly appropriate to go bring in the FBI director and say, ‘Hey, wait a minute, all these BLM rioters – how come none of them have been held accountable? How come you’re going after these people and not these people?’” he said. “You absolutely could do that and you should do that.”… “And if they don’t have a good answer, the FBI director should be fired and you should put someone else in there.”…
https://flvoicenews.com/desantis-fbi-and-doj-are-not-independent-republican-president-must-use-proper-oversight/

Four of Trump’s vulnerabilities: 1) Soft on crime – passed First Step Act, which was espoused by Jared/Ivanka/Kanye and Kim Kardashian; 2) Poor Covid performance – gave Fauci et al free reign and promoted a rush on vaxxes; 3) horrid personnel decisions – hired Establishment types and foes; didn’t fire inept people; 4) Did NOT do what he campaigned on: Drain the Swamp, build the wall, repeal Obamacare, eliminate US debt in 8 years, and several more.

Pro-DeSantis PAC says it will help finance Trump to move from ‘worst state’ Florida to ‘his beloved California’ https://trib.al/ahDCnQM

@spectatorindex: Birth rate, per 1,000 people. 1960 United States: 24, Germany: 17
2020 United States: 11, Germany 9 (World Bank) [“Demographics is destiny.”]
https://twitter.com/spectatorindex/status/1649621986866528256?s=02

Phil Jackson on NBA Hasn’t Watched Since ’20 Got Too Political with BLM, Slogans
Phil thinks the NBA was pandering to a certain audience and demographic — and their virtue signaling that year turned a lot of people off … including himself. He says politics should stay out of sports, and that folks don’t wanna see ’em mesh… (Phil was labeled ‘Flower Child’ by teammate Earl Monroe and is a proud Deadhead!) https://www.tmz.com/2023/04/22/phil-jackson-stopped-watching-nba-blm-politics-bubble-2020/

“Entire Downtown Is Effectively Dead:” Baltimore City Descends Further into Turmoil
“Who in their right mind would want to risk coming downtown when the news out of Baltimore is all about shootings, carjackings, mugging, and out-of-control packs of teenagers milling about on a semi-regular basis?”… (No wonder big-city US commercial real estate is in crisis!)
https://www.zerohedge.com/political/entire-downtown-effectively-dead-baltimore-city-descends-further-hellhole

@ABC7Chicago: One possible solution to preventing teens from gathering in unruly crowds are programs where teens can put their energies to good use by learning skills and even earning a paycheck.
(Isn’t that what Chicago public schools, and their astronomical budgets, are supposed to provide?)
       16th & 17th District Chicago Police Scanner @CPD1617Scanner: Bold to think that people who have no regard for life or property care to have jobs or care to attend programs. The problem with programs is that they’ll never reach the people they’re trying to reach.

For most of her term, Chicago Mayor Lightfoot underplayed or denied Chicago crime and violence. Now, that she is about to exit, she pleads with Democrats to speak the truth about Chicago crime!
Ousted Chicago Mayor Lori Lightfoot urges Dems to ‘speak the truth’ on violent crime amid spike
https://www.foxnews.com/politics/ousted-chicago-mayor-lori-lightfoot-urges-dems-speak-truth-violent-crime-amid-spike

Chicago was unusually quiet over the weekend because of wintery weather. Rain, sleet, and near freezing temperatures hit the area. Also, some courageous ministers organized a march of hundreds of young black men in downtown Chicago on Saturday to protest youth violence in Chicago.

Thirty years of pain: Illinoisans suffer as property tax bills grow far faster than household incomes, home values – As a share of household incomes, they’re up more than 60 percent compared to three decades ago, never mind the law passed in 1991 meant to limit property tax increases.*
    When measured as a percentage of home values, Illinois property taxes are now the highest in the country. ATTOM Data Solutions calculates Illinois effective tax rate equaled 1.86 percent in 2021…
    Residential property tax bills per household have grown 2.1 times more than median household incomes since 1990. Tax bills per household have grown 268 percent over the entire period, while incomes have only grown 127 percent. As a benchmark, inflation was up 98 percent over the same period.
https://wirepoints.org/thirty-years-of-pain-illinoisans-suffer-as-property-tax-bills-grow-far-faster-than-household-incomes-home-values-wirepoints-special-report/

Extinction Rebellion Founder Outed as Diesel-Using, Packaged-Fruit-Buying Hypocrite
A co-founder of Extinction Rebellion — the environmental group that’s widely loathed for stunts like smashing windows, splashing paint on works of art and gluing themselves to runways and roads — has been accused of hypocrisy after she was photographed driving a diesel car and buying a variety of packaged, non-local foods…Gail Bradbrook, who in 2018 helped launch the fanatical climate-panic organization, has herself participated in multiple acts of vandalism in a purported drive to reduce the use of fossil fuels… “…Extinction Rebellion’s leaders clearly live by the mantra, ‘Do as I say, not as I do’.”… https://www.zerohedge.com/political/extinction-rebellion-founder-outed-diesel-using-packaged-fruit-buying-hypocrite

Blaze Media: Stephen King tries to virtue signal over Twitter verification, Elon Musk silences him…

@StephenKing: I think Mr. Musk should give my blue check to charity. I recommend the Prytula Foundation, which provides lifesaving services in Ukraine. It’s only $8, so perhaps Mr. Musk could add a bit more.
    @elonmusk replying to @StephenKing: I’ve donated $100M to Ukraine, how much have you donated? (We turned down the DoD money btw) (Now THIS is a mic drop!)

@amber_athey: “The lesson is if you stand up to the mob for just a day or two, their shallow, impatient, immature smartphone-driven gerbil minds will forget about it and go on to the next nothingburger and you, you still will have your cojones.” — Bill Maher

Virginia finds almost 19,000 dead people on voter rolls
https://justthenews.com/politics-policy/elections/virginia-finds-almost-19000-dead-people-voter-rolls

Most U.S. voters (60-35) think ‘cheating’ affected 2022 midterm elections: Most voters – 62% – also think that the government is likely “ignoring evidence of widespread election fraud,” the poll also found…
https://justthenews.com/politics-policy/polling/most-us-voters-think-cheating-affected-2022-midterm-elections-poll

Babylon Bee: Cracker Jack Changes Name to More Politically Correct Caucasian Jack

GREG HUNTER INTERVIEWING ALEX NEWMAN

UN Global Takeover Plan Wickedness from Pit of Hell – Alex Newman

UN Global Takeover Plan Wickedness from Pit of Hell – Alex Newman

By Greg Hunter On April 22, 2023 In Political Analysis34 Comments

By Greg Hunter’s USAWatchdog.com (Saturday Night Post)

Award-winning journalist Alex Newman, author of the popular books “Deep State” and “Crimes of the Educators,” predicted at the beginning of this year that “the Deep State demons will have one crisis after another,” and he was spot on. The Deep State demons don’t want to just cause chaos, but they have plans in motion to completely take over the entire planet. The U.N. is at the top of the Deep State, and it’s setting itself up to take control during any global emergency. Newman explains, “They give no clear definition on what constitutes a ‘global emergency,’ and they actually say it doesn’t have to be global and it doesn’t have to be an emergency. So, what happens when the U.N. Secretary General declares there is this complex global emergency? . . . . According to the document, the U.N. and the multilateral agencies will have ‘primary decision-making authority.’ They give you some examples of what might constitute a global emergency. It could be climate change. It could be environmental degradation. It could be a biological attack. It could be an interruption in the flow of goods or people. It could be a ‘Black Swan event.’ In other words, it could be anything. . . . If this plan gets approved, and they are going to be talking about it at the ‘Summer of the Future’ event coming up in September, basically, the Secretary General would become world dictator. This would happen anytime he announces these protocols. It’s hugely significant and completely under the radar.”

It get’s worse, and the Deep State global demons are attacking humanity from all angles, and people don’t even know it. Now, the U.N. is pushing “pedophilia as a human right” and wants to decriminalize sex with children. Newman says, “‘Queer Theory’ was born almost 40 years ago, and the point was always to try to legalize any kind of perverted sex. It’s horrible enough that these people want to have sex with children, and it is so monstrous, but their agenda is even bigger than that. The reason we see this incredible perversion is it is being used as a battering ram to take down family, to take down society and to take down traditional moral order. It is quite literally wickedness from the pit of hell. The rape of children is just one horrific symptom of that, but this is part of a much bigger agenda.”

Newman says the good news is people are waking up to the fake news and want the truth. Neman contends this is why so-called liberal news sites like “BuzzFeed” recently went out of business, and the New York Times numbers are tanking. Newman says, “People don’t want to pay money to be propagandized. People don’t want to pay money to be lied to. Most people have no interest in reading lies. . . . People are sick of this. . . . After Trump left office, the New York Times and others are all losing subscribers very rapidly. Meanwhile, The Epoch Times is the 4th largest newspaper in America by subscription, and it is growing very rapidly. (Newman predicts The Epoch Times will be #1 by the end of 2023.) So, this is encouraging. We started seeing this in the 2016 election. All the fake media, CNN, New York Times, ABC and Washington Post were getting less views on YouTube than Alex Jones. With all those rigged algorithms and shadow bans, they could not stop people from tuning out the mainstream media, the fake media, the dying legacy media and turning to alternative media. This is great news, and I think we are winning the narrative battle.”

There is much more in the 40-minute interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with hard hitting journalist Alex Newman, founder of LibertySentinel.org and author of the book “Deep State” for 4.22.23.

(https://usawatchdog.com/un-global-takeover-plan-wickedness-from-pit-of-hell-alex-newman/)

(Tech Note: If you do not see the video, know it is there. Unplug your modem and plug it back in after 30 sec. This will clear codes that may be blocking you from seeing it. In addition, try different browsers. Also, turn off all ad blockers if you have them. All the above is a way Big Tech tries to censor people like USAWatchdog.com.)

After the Interview:

Newman’s website is called LibertySentinel.org. There is lots of free information and articles.

To get a copy of “The Great Reset” DVD, click here.

To get a copy of “Transhumanism: War on Humanity & God” DVD, click here.

For a copy of Alex Newman’s popular book “Deep State,” click here, and for “Crimes of the Educators,” click here.

To support Alex Newman with electronic donations, click here

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