MAY 5/2023 · by harveyorgan · in Uncategorized · Leave a comment·Editi

GOLD PRICE CLOSED: DOWN $30.30 TO $2016.90

SILVER PRICE CLOSED: DOWN 31 CENTS AT $25.64

Access prices: closes 4: 15 PM

Gold ACCESS CLOSE $2050.00

Silver ACCESS CLOSE: 26.06

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“America has been blessed never to have a native criminal class. Excepting Congress, of course.” … Mark Twain

GO GATA!

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Pay no attention to today’s action with respect to gold and silver and the stock market.

Nothing has changed. The Non Farm payroll report was a fraud, a phony!. There will be lots of revisions next month. There was lots of revisions to Jan, Feb, March but nobody pays attention to these. The economy is in big trouble. The crooks move was to save the banks for one more week, but many will succumb as trillions of dollars move into the money market funds from banks.

Bitcoin morning price:, $29,199 UP 354 Dollars

Bitcoin: afternoon price: $29,446 UP 107 dollars

Platinum price closing $1062.20 UP $20.95

Palladium price; $1504.40 UP $45.75

GO GATA!

END

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

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

CANADIAN GOLD: $2,698.98 DOWN 73.34 CDN dollars per oz (ALL TIME HIGH 2,775.35)

BRITISH GOLD: 1596.68 DOWN 32/44 pounds per oz//(ALL TIME HIGH//CLOSING///1630.29)

EURO GOLD: 1830.70 DOWN 28.99 euros per oz //(ALL TIME HIGH/CLOSING//1861.21)//

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EXCHANGE: COMEX

CONTRACT: MAY 2023 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,048.000000000 USD
INTENT DATE: 05/04/2023 DELIVERY DATE: 05/08/2023
FIRM ORG FIRM NAME ISSUED STOPPED

118 C MACQUARIE FUT 81
323 C HSBC 131
365 H MAREX CAPITAL M 2
624 H BOFA SECURITIES 8
661 C JP MORGAN 502
690 C ABN AMRO 7
726 C CUNNINGHAM COM 10
737 C ADVANTAGE 2 4
880 H CITIGROUP 496
905 C ADM 1 54

TOTAL: 649 649
MONTH TO DATE: 5,144

JPMorgan stopped 502/649 contracts

FOR MAY:

GOLD: NUMBER OF NOTICES FILED FOR MAY/2023. CONTRACT: 649 NOTICES FOR 64,900 OZ or 2.0186 TONNES

total notices so far: 5144 contracts for 514400 oz (16.0000 tonnes)

FOR MAY:

SILVER NOTICES: 117 NOTICE(S) FILED FOR 535,000 OZ/

total number of notices filed so far this month : 1830 for 9,150,000 oz

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END

GLD

WITH GOLD DOWN $30.30

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

/HUGE CHANGES IN GOLD INVENTORY AT THE GLD:///A DEPOSIT OF 1.74 TONNES INTO THE GLD//

INVENTORY RESTS AT 930.04 TONNES

Silver//

WITH NO SILVER AROUND AND SILVER DOWN 31 CENTS AT THE SLV//

SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 0.368 MILLION OZ FROM THE SLV/: INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 466.876 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A GIGANTIC SIZED 5,649 CONTRACTS TO 148,139 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR $0.53 GAIN IN SILVER PRICING AT THE COMEX ON THURSDAY. WE HAVE THIS YEAR SET ANOTHER RECORD LOW AT 117,395 CONTRACTS ///MARCH 29.2023. OUR BANKERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.53). AND WERE UNSUCCESSFUL IN KNOCKING ANY SPEC LONGS AS WE HAD A GIGANTIC GAIN ON OUR TWO EXCHANGES OF 7244 CONTRACTS. WE HAD 250 CRIMINAL NOTICES FILED IN THE CATEGORY OF EXCHANGE FOR RISK TRANSFER FOR 1.250 MILLION OZ// ( THE TOTAL ISSUED IN THIS CATEGORY SO FAR THIS MONTH TOTAL 4.250 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 HUMONGOUS ISSUANCE OF EXCHANGE FOR PHYSICALS( 1595 CONTRACTS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 13.105 MILLION OZ(FIRST DAY NOTICE) FOLLOWED BY TODAY’S E.F.P. JUMP TO LONDON OF 60,000 OZ(E.FP.’S LOWER THE AMOUNT OF SILVER STANDING)+ 4.25 MILLION OZ OF EXCHANGE FOR RISK(RAISES THE AMOUNT OF SILVER STANDING):THUS TOTAL OF 16.925 MILLION OZ OF STANDING FOR DELIVERY V) HUGE SIZED COMEX OI GAIN/ HUMONGOUS SIZED EFP ISSUANCE/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL –35 CONTRACTS

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

TOTAL CONTRACTS for 5 days, total 4866 contracts: OR 24.330 MILLION OZ . (973 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 24.330 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

YEAR 2022:

JAN 2022-DEC 2022

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

TOTALS YR 2022: 1135.767 MILLION OZ (1.1356 BILLION OZ)

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

APRIL 118.035 MILLION OZ(SLIGHTLY GREATER THAN THAN LAST MONTH)

MAY 24.330 MILLION OZ/INITIAL

RESULT: WE HAD A HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 5649 CONTRACTS WITH OUR $0.53 GAIN IN SILVER PRICING AT THE COMEX//THURSDAY.,. THE CME NOTIFIED US THAT WE HAD A HUMONGOUS SIZED EFP ISSUANCE CONTRACTS: 1595 ISSUED FOR JULY 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 13.105 MILLION OZ//FIRST DAY NOTICE FOLLOWED BY TODAY’S E.F.P. JUMP OF 60,000 OZ (DECREASES THE AMOUNT OF SILVER STANDING) +// + 4.25 MILLION NEW EXCHANGE FOR RISK TODAY (INCREASES THE AMOUNT OF SILVER STANDING) //TOTAL STANDING 12.675 MILLION OZ + 4.25 MILLION = 16.925 MILLION OZ// .. WE HAVE A HUGE SIZED GAIN OF 7244 OI CONTRACTS ON THE TWO EXCHANGES

WE HAD 117 NOTICE(S) FILED TODAY FOR 585,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A HUGE SIZED 16,460 CONTRACTS TO 520,664 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: removed 1295 CONTRACTS

WE HAD A HUGE SIZED INCREASE IN COMEX OI ( 16,460 CONTRACTS) WITH OUR $19.00 GAIN IN PRICE. WE ALSO HAD A STRONG INITIAL STANDING IN GOLD TONNAGE FOR MAY. AT 3.5085 TONNES ON FIRST DAY NOTICE // PLUS A MONSTROUS 82,300 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 $19.00 GAIN IN PRICE WITH RESPECT TO THURSDAY’S TRADING.WE HAD A GIGANTIC SIZED GAIN OF 19,861 OI CONTRACTS (61.776 PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 3401 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 520,664

IN ESSENCE WE HAVE A HUGE SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 19,861 CONTRACTS WITH 16,460 CONTRACTS INCREASED AT THE COMEX AND 3401 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 19,861 CONTRACTS OR 61.776 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3401 CONTRACTS) ACCOMPANYING THE HUGE SIZED GAIN IN COMEX OI (16,460 //TOTAL GAIN IN THE TWO EXCHANGES 19,861 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 MAY AT 3.5085 TONNES FOLLOWED BY TODAY’S MONSTROUS QUEUE JUMP OF 82,300 OZ // NEW STANDING: 16.541 TONNES // ///3) ZERO LONG LIQUIDATION//4) HUGE SIZED COMEX OPEN INTEREST GAIN/ 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER/

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023 INCLUDING TODAY

MAY

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

TOTAL EFP CONTRACTS ISSUED: 15,595 CONTRACTS OR 1,559,500 OZ OR 48.50 TONNES IN 5 TRADING DAY(S) AND THUS AVERAGING: 3119 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 5 TRADING DAY(S) IN TONNES 48.50 TONNES

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

THUS EFP TRANSFERS REPRESENTS 48.50/3550 x 100% TONNES 1.36% 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//

TOTALS: 2,578.08 TONNES

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

TOTAL: 2,847,25 TONNES

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: 197.42 TONNES ( MUCH SMALLER THAN LAST MONTH)

MAY: 48.50 TONNES

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 JUNE. 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 MAY HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF JUNE., 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 (JUNE), 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 HUGE SIZED 5649 CONTRACTS OI TO 148,139 AND CLOSER TO OUR COMEX HIGH RECORD //244,710(SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 5 YEARS AGO. HOWEVER WE HAVE SET A NEW RECORD LOW OF 117,395 CONTRACTS MARCH 27/2022

EFP ISSUANCE 1595 CONTRACTS

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

JULY 1595 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1595 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 5649 CONTRACTS AND ADD TO THE 1595 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A GIGANTIC SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 7244 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 36.22 MILLION OZ

OCCURRED WITH OUR $0.53 GAIN 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//

FRIDAY MORNING//THURSDAY NIGHT

SHANGHAI CLOSED DOWN 15.96 PTS OR .48% //Hang Seng CLOSED UP 100.58 POINTS OR 0.50% /The Nikkei closed UP 34.77 OR .12% //Australia’s all ordinaries CLOSED UP 0.34 % /Chinese yuan (ONSHORE) closed UP 6.9088 /OFFSHORE CHINESE YUAN UP TO 6.9152 /Oil UP TO 70.47 dollars per barrel for WTI and BRENT AT 74.54 / Stocks in Europe OPENED ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER

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

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A HUGE SIZED 16,460 CONTRACTS UP TO 520,664 WITH OUR STRONG GAIN IN PRICE OF $19.00 ON THURSDAY,

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF MAY… 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 3401 EFP CONTRACTS WERE ISSUED: : JUNE 3401 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3401 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A GIGANTIC SIZED TOTAL OF 19,861 CONTRACTS IN THAT 3401 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A HUGE SIZED GAIN OF 16,460 COMEX CONTRACTS..AND THIS GIGANTIC SIZED GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $19.00. WE ARE NOW WITNESSING THE BANKERS GOING NET SHORT AND THE SPECS GOING NET LONG.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: MAY (16.541) ( NON 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: 75.676 tonnes

MAY: 16.541 TONNES

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE $19.00) //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD OUR GIGANTIC SIZED GAIN OF 19,861 CONTRACTS ON OUR TWO EXCHANGES

WE HAVE GAINED A TOTAL OI OF 61.776 PAPER TONNES OF TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR MAY. (3.5085 TONNES) FOLLOWED BY TODAY’S QUEUE JUMP OF 82,300 oz (2.559 TONNES)//NEW STANDING 16.540 TONNES ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $19.00

WE HAD –REMOVED 1295 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES 19,861 CONTRACTS OR 1,986,100 OZ OR 61.776 TONNES.

Estimated gold comex today 285,584// fair

final gold volumes/yesterday 341,944 good

//MAY 5/ MAY 2023 CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	9683.123 oz HSBC Manfra .
Deposit to the Dealer* Inventory in oz*	nil OZ
Deposits to the Customer* Inventory, in oz*	nil oz
No of oz served (contracts) today	649 notice(s) 64900 OZ 2.0186 TONNES
No of oz to be served (notices)	174 contracts 17400 oz 0.5412 TONNES
Total monthly oz gold served (contracts) so far this month	5144 notices 514,400 OZ 16.0000 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: 2

i) Out of HSBC: 5287.487 oz

ii) Out of Manfra: 3795.636 oz

total withdrawals: 9683.123 oz

Adjustments; 2

i) customer to dealer Manfra: 12,365.343 oz

ii) dealer to customer jPMorgan: 12,057.97 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR MAY.

For the front month of MAY we have an oi of 823 contracts having LOST 695 contracts. We had 1518 contracts filed

on THURSDAY, so we gained a monstrous 823 contracts or an additional 82,300 oz (2.559 tonnes) will stand for gold in this non active delivery month of May.

June GAINED 3796 contracts UP to 385,184 contracts.

July added 396 contracts to stand at 1156 contracts.

AUGUST GAINED 10,799 contracts up to 85,278 contracts

We had 649 contracts filed for today representing 64,900 oz

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 649 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 502 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 MAY /2023. contract month,

we take the total number of notices filed so far for the month (5,144 x 100 oz ), to which we add the difference between the open interest for the front month of MAY 823 CONTRACTS) minus the number of notices served upon today 649 x 100 oz per contract equals 531,800 OZ OR 16.541 TONNES the number of TONNES standing in this NON- active month of May.

thus the INITIAL standings for gold for the MAY contract month: No of notices filed so far (5,144 x 100 oz)+823 OI for the front month minus the number of notices served upon today (649)x 100 oz} which equals 531,800 oz standing OR 16.541 TONNES

TOTAL COMEX GOLD STANDING: 16.541 TONNES WHICH IS HUGE FOR A NON 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: 1,666,085.702 OZ 51.822 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 22,509,203.896 OZ

TOTAL REGISTERED GOLD: 12,385,679.388 (385,24 tonnes)..

TOTAL OF ALL ELIGIBLE GOLD: 10,123,524.508 O Z

REGISTERED GOLD THAT CAN BE SERVED UPON: 10,719,594 OZ (REG GOLD- PLEDGED GOLD) 333.42 tonnes//

END

SILVER/COMEX

MAY 5//2023// THE MAY 2023 SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	138,240.030 oz Brinks CNT Manfra .
Deposits to the Dealer* Inventory*	nil oz
Deposits to the Customer Inventory	600,282.300 oz Loomis
No of oz served today (contracts)	117 CONTRACT(S) (585,000 OZ)
No of oz to be served (notices)	705 contracts (3.525,000 oz)
Total monthly oz silver served (contracts)	1830 Contracts (9,150,000 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: 0

total: nil oz

i) We had 0 dealer withdrawal

total dealer withdrawals: oz

We have 1 deposits into the customer account

i) into Loomis: 600,382.300 oz

Total deposits: 600,382.300 oz

JPMorgan has a total silver weight: 139,607 million oz/269.484 million =51.75% of comex .//dropping fast

Comex withdrawals: 3

i) Out of Brinks 15,712.880 oz

ii) Out of CNT: 101,844.240 oz

iii) Out of Manfra 20,683,510 oz

Total withdrawals; 138,240.630 oz

adjustments: customer to dealer

a) 323,570.182 oz

the silver comex is in stress!

TOTAL REGISTERED SILVER: 31.674 MILLION OZ (declining rapidly).TOTAL REG + ELIGIBLE. 269.484 million oz

CALCULATION OF SILVER OZ STANDING FOR MAY

silver open interest data:

FRONT MONTH OF MAY /2023 OI: 822 CONTRACTS HAVING LOST 38 CONTRACT(S). WE HAD 26 CONTRACTS FILED

ON THURSDAY, SO WE LOST 12 CONTRACT OR AN ADDITIONAL 60,000 OZ OF SILVER WILL NOT STAND FOR DELIVERY IN THIS VERY

ACTIVE DELIVERY MONTH OF MAY AS, FOR THE 4TH DAY IN A ROW, THESE GUYS WERE E.F.P.’d TO LONDON AS NO SILVER COULD BE FOUND OVER HERE..

.JUNE HAD A 42 CONTRACT GAIN TO 950

JULY HAD A 4631 CONTRACT GAIN TO 125,341 CONTRACTS

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 117 for 585,000 oz

Comex volumes// est. volume today 68,434 GOOD

Comex volume: confirmed yesterday: 76,702 good

To calculate the number of silver ounces that will stand for delivery in MAY. we take the total number of notices filed for the month so far at 1830 x 5,000 oz = 9,150,000 oz

to which we add the difference between the open interest for the front month of MAY(822) and the number of notices served upon today 117 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the MAY/2023 contract month: 1830 (notices served so far) x 5000 oz + OI for the front month of May (822) – number of notices served upon today (117 )x 500 oz of silver standing for the MAY contract month equates to 12.675 million oz + THE CRIMINAL 1.250 MILLION OZ EXCHANGE FOR RISK TODAY//NEW TOTAL EXCHANGE FOR RISK: 4.250//NEW TOTAL 16.925 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

MAY 5/WITH GOLD DOWN $30.30 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: AS DEPOSIT OF 1.74 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 930.04 TONNES

MAY 4/WITH GOLD UP $19.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 928.30 TONNES

MAY 3/WITH GOLD UP $13.90 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.47 TONNES INTO THE GLD////INVENTORY RESTS AT 928.30 TONNES

MAY 2/WITH GOLD UP $32.70 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES FORM THE GLD/////INVENTORY RESTS AT 924.83 TONNES

MAY 1/WITH GOLD DOWN $8.85 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 926.28 TONNES

APRIL 28/WITH GOLD UP $1.45 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.76 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 926.28 TONNES

APRIL 27/WITH GOLD UP $4.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 930.04 TONNES/

APRIL 26/WITH GOLD DOWN $8.45 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.61 TONNES FROM THE GLD.//INVENTORY RESTS AT 930.04 TONNES

APRIL 25/WITH GOLD UP $4.90 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .86 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 927.43 TONNES

APRIL 24/WITH GOLD UP $9.45 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 926.57 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

GLD INVENTORY: 930.04 TONNES

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

MAY 5/WITH SILVER DOWN 31 CENTS TODAY; SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 368,000 OZ OF SILVER FROM THE SLV////INVENTORY RESTS AT 466.876 MILLION OZ//

MAY 4/WITH SILVER UP 53 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A SMALL DEPOSIT OF .174 MILLION OZ INTO SLV.//INVENTORY RESTS AT 467.174 MILLION OZ//

MAY 3/WITH SILVER UP 11 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.194 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 467.070 MILLION OZ//

MAY 2/WITH SILVER UP 37 CENTS TODAY;NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 468.264 MILLION OZ//

MAY 1/WITH SILVER DOWN ONE CENT TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 918,000 OZ FROM THE SLV////INVENTORY RESTS AT 468.264 MILLION OZ

APRIL 28/WITH SILVER UP 1 CENT TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 469.482 MILLION OZ//

APRIL 27/WITH SILVER UP 16 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.103 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 469.182 MILLION OZ//

APRIL 26/WITH SILVER UP 10 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.102 MILLION OZ FORM THE SLV////INVENTORY RESTS AT 470.285 MILLION OZ

APRIL 25/WITH SILVER DOWN 34 CENTS TODAY: THIS IS UNBELIEVABLE!!! HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 7.304 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 471.387 MILLION OZ.

APRIL 24/WITH SILVER UP 22 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 464.083 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//

CLOSING INVENTORY 466.876 MILLION OZ//

PHYSICAL GOLD/SILVER STORIES

1:Peter Schiff

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

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

Your weekend reading material

(Alasdair Macleod)

Alasdair Macleod: Why gold is always money

Submitted by admin on Thu, 2023-05-04 11:56Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, May 4, 2023

That America faces a severe banking crisis has become plain to see, but the authorities’ response less so. Almost certainly the crisis has much further to go in America, spreading to other jurisdictions. We can only hope that central banks will protect all depositors, but that is far from certain in this early stage.

These febrile conditions are made infinitely more difficult by the contraction of bank credit. The cyclical nature of bank credit means that the shortage of credit will intensify, driving up borrowing costs even in the face of a recession. Interest rates are no longer under the control of central banks, though market participants have yet to realise it.

It has important implications for the valuation of credit. In order to understand the consequences, this article draws out the legal and practical distinctions between money, defined as gold and silver but principally gold, and credit in the form of banknotes and bank deposits.

The value of credit is a matter of the confidence in it. You may think that your dollars, euros, or pounds are money, but you would be wrong. They are credit. The cost of being wrong will not be just to see your bank deposits threatened systemically, but potentially the entire currency system undermined by loss of faith in it.

To properly understand these dangers, this article defines and describes the differences between credit and money. It is credit which is threatened with collapse. Only true money, which very few Westerners possess will survive. …

… For the remainder of the analysis:

https://www.goldmoney.com/research/why-gold-is-always-money?gmrefcode=gata

END

4. OTHER GOLD/SILVER RELATED COMMENTARIES/

Ser Guides Live from the Vault

EPISODE 121

Kamikaze Fed – Silver ejector seat – Time to bail out!

Andrew Maguire reveals the truth about sanctioned “too big to fail” bank bailouts and the eff…

END

5.IMPORTANT COMMENTARIES ON COMMODITIES:

end

GLOBAL COMMODITIES ISSUES/FOOD IN GENERAL

6.CRYPTOCURRENCY COMMENTARIES/

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

ONSHORE YUAN: CLOSED UP AT 6.9088

OFFSHORE YUAN: 6.9152

SHANGHAI CLOSED DOWN 15.96 PTS OR .48%

HANG SENG CLOSED UP 100.58 PTS OR 0.50%

2. Nikkei closed UP 34.77 PTS OR .12%

3. Europe stocks SO FAR: ALL GREEN

USA dollar INDEX DOWN TO 101.14 EURO FALLS TO 1.1016 DOWN 8 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.415 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 134.46 /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 DOWN /JAPANESE Yen DOWN CHINESE YUAN: UP// OFF- SHORE: UP

3f Japan is to buy INFINITE TRILLION YEN’S worth of BONDS. Japan’s GDP equals 5 trillion USA

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund DOWN TO +2.2610***/Italian 10 Yr bond yield RISES to 4.177*** /SPAIN 10 YR BOND YIELD RISES TO 3.354…** DANGEROUS//

3i Greek 10 year bond yield FALLS TO 4.064

3j Gold at $2036.60 silver at: 25.83 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble UP 0 AND 88 /100 roubles/dollar; ROUBLE AT 77.16//

3m oil into the 70 dollar handle for WTI and 74 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 134.22 10 YEAR YIELD AFTER BREAKING .54%, RISES TO .415% 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 0.8918 as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9823 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: 3.401 UP 5 BASIS PTS…GETTING DANGEROUS//

USA 30 YR BOND YIELD: 3.754 UP 3 BASIS PTS/

USA 2 YR BOND YIELD: 3.8248 UP 10 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 19.50…

GREAT BRITAIN/10 YEAR YIELD: UP 13 BASIS PTS AT 3.7855

end

2. Overnight: Newsquawk and Zero hedge:

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

Futures Rise Ahead Of Payrolls To End Week Of Bank Turmoil

FRIDAY, MAY 05, 2023 – 07:55 AM

US futures entered the last day of a brutal week in the green ahead of key US jobs data, as regional banks clawed back some of their recent selloff, even as the S&P 500 benchmark was still poised for its worst weekly performance in almost two months. The S&P 500 contracts climbed 0.7% as of 7:30 a.m. ET while Nasdaq 100 futures gained 0.6%. European stocks were higher but on pace for their biggest weekly drop in 7 weeks. Treasury yields are ticking higher amid a more risk-on day, while the dollar is still weakening on recession risks and a potential pause in interest rate hikes. Oil is staging a rebound, though is still set for the worst week since mid-March, continuing its third weekly decline. Meanwhile, gold is headed for its biggest weekly advance since the middle of March, up around 2% this week, as traders look for havens. Iron ore slides, while copper is little changed.

In premarket trading, distressed bank PacWest added 13% in US premarket trading, after it slumped 69% in the previous four sessions amid concerns that the collapse of First Republic Bank may not be the last in the troubled industry. Western Alliance Bancorp also rose 12% in premarket trading, having wiped out 51% of its market value earlier this week. While some investors have warned of further pain to come, others have suggested the bank rout has gone too far. “The tension between poor market sentiment and strong liquidity at regional banks is difficult to reconcile,” said Bloomberg Intelligence analyst Herman Chan. Apple rose as much as 2.5% after it reported better-than-expected revenue on robust iPhone sales, raised its dividend and expanded its buyback program. Coinbase and dating app Bumble were also among the best performers on Friday. Here are some other notable premarket movers:

Atlassian falls as much as 16% in premarket trading after the software company forecast revenue for the fourth quarter that missed the average estimate. Analysts noted that a steep deceleration at its cloud business and the weak current-quarter forecast offset better-than-expected 3Q results.
Carvana shares surge as much as 37% in US premarket trading, and are set for their biggest one-day gain in three months after the online second- hand-car retailer’s earnings beat estimates and it predicted a return to profitability in the second quarter. Analysts raised their price targets, positive on the company’s cost-cutting efforts even as challenges remain.
Lyft slumped as much as 17% in premarket trading after the company forecast revenue for the second quarter that trailed the average analyst estimate. New CEO David Risher faces several challenges as he attempts to turn around the struggling ride-hailing company.
Trupanion tumbled 48% in premarket trading, on course for its biggest-ever drop, after the pet-health insurer reported a first-quarter loss per share that was more than twice the average analyst estimate. Analysts note that price increases at vets during the quarter deepened losses.
DoorDash shares rose as much as 5.1% in premarket trading, after the food-delivery company beat estimates, driven by strong demand for deliveries despite higher prices and a cloudy economic outlook.
Bill Holdings Inc. shares climbed 15% in extended trading, after the financial software company raised its full-year forecast. Analysts are positive on the report.

While banking jitters will remain front and center, the focus on Friday shifts to the US jobs report (full preview here) and speculation that the Federal Reserve might start lowering interest rates in response to tighter credit conditions. Swap contracts are now showing around one-in-two odds of a cut as soon as July. Economists forecast that employers scaled back hiring in April, adding 185,000 jobs, and that the unemployment rate ticked up slightly from historically low levels last month; risks could be skewed to upside following blowout ADP report that estimated private payrolls rose 296k in April (vs. consensus 150k). Gordon Shannon, portfolio manager at TwentyFour Asset Management, predicts a jobs print below 150,000. “That’s going to cause a rally in risk assets as that further feeds into the idea that Powell is data-driven and therefore going to pivot soon,” he said in an interview with Bloomberg Television.

Following two months of gains, the S&P 500 kicked off May with a drop as investors fret over rising recession risks and the regional banking crisis. At the same time, swap traders are betting that the Federal Reserve is likely to reverse this week’s quarter-point interest-rate increase by July in response to tightening credit conditions. The Fed tightening pause, combined with signs of a slowing inflation and cooling labor market suggest the US might avoid a recession after all, according to Aneka Beneby, a senior portfolio manager at Julius Baer.

“I think equities are going to keep climbing the wall of worry because of the lack of a recession this year,” she said on Bloomberg TV. “The sectors that we like are tech, and those mega cap stocks show that they’ve been quite resilient. We also like healthcare, which is still quite cheap.”

While the Fed may have signaled this week its willingness to pause rate hikes, BofA’s Michael Hartnett said it’s not yet time to buy equities as outflows accelerate amid elevated inflation and recession fears. Redemptions from global stock funds reached $6.6 billion in the week through May 3 — the most in more than two months, according to a note from the bank citing EPFR Global data. A “new structural bull market requires big Fed easing,” which in turn needs a “big recession,” Hartnett said.

To protect themselves against that threat of a downturn, investors are likely to favor gold and technology stocks as those bets are expected to provide a buffer, strategists at JPMorgan Chase & Co. said. “The US banking crisis has increased the demand for gold as a proxy for lower real rates as well as a hedge against a ‘catastrophic scenario,’” strategists including Nikolaos Panigirtzoglou and Mika Inkinen wrote in a note.

In geopolitics, the Pentagon is seeking a meeting between US Defense Secretary Lloyd Austin and his Chinese counterpart Li Shangfu in Singapore next month, in a renewed effort by the Biden administration to restart lines of communication with China’s military leaders. If Beijing accepts, this would represent the most senior in-person meeting between the two sides since an alleged Chinese spy balloon transited the US in February and sent relations to a new low. China has rebuffed multiple requests for a phone call with Austin or the chairman of the joint chiefs of staff, General Mark Milley, since then. A long-anticipated call between US President Joe Biden and China’s President Xi Jinping has also yet to take place.

European stocks are higher although still on course for their largest weekly fall in seven weeks. The Stoxx 600 is up 0.2% led by outperformance in the energy, mining and bank sectors. Adidas shares rise as much as 7.6%, the most intraday since February, after the German sportswear maker reported first quarter results that beat estimates and kept its outlook for the year. IAG shares gain as much as 5.8%, with analysts saying consensus estimates are likely to rise after a very strong first quarter, with the British Airways owner delivering an operating profit in the quarter. Here are some of the other most notable movers:

Grifols gains as much as 6.7% after Citi said it expects the blood plasma producer to report 1Q results at the top end of guidance, while fresh data from Argenx will be a “clearing event” for Grifols
Scatec gains as much as 14%, the most since November, after the Norwegian renewables firm beat expectations on operating profit and Ebitda, marking a “good start to the year,” DNB writes
Arkema shares climb as much as 3.1% after the France-based chemicals company reported 1Q Ebitda beat. Company confirms full-year 2023 Ebitda guidance, with Citi attributing the beat to core divisions
Raiffeisen bounces as much as 4.3% after the Austrian lender’s earnings topped expectations and it raised its guidance, even as analysts flagged that it did not provide any update on its Russia operations
Evotec shares fall as much as 10% after the German stock exchange operator said the biotech firm will be removed from the MDAX, HDAX and TecDAX indexes following the delaying of the release of its annual report
InterContinental Hotels shares fall as much as 3.1% with analysts saying the net unit growth for the hotel operator in the first quarter was a touch light, as it also announced an unexpected CEO change
Moncler falls as much as 2.7% after earnings, with analysts saying the solid print may not be enough to excite given high expectations into the print after a strong season for its luxury rivals
Galp shares drop as much as 3.5% after the Portuguese oil company’s first quarter adjusted net income missed the average analyst estimate, with Jefferies highlighting weak operating cash flow
Clariant falls as much as 2% after the Swiss chemical company’s 1Q adjusted Ebitda missed estimates, as analysts flag weaker demand and a difficult macroeconomic environment

Earlier in the session, Asian stocks advanced for a second day as the dollar continued to weaken, with traders shrugging off concerns over further stress among regional US banks. The MSCI Asia Pacific Index rose as much as 0.4%, led by real estate shares. Some markets in the region, including Japan and South Korea, were shut for holidays. Hong Kong shares outperformed their regional peers. Asian lenders have been resilient amid deepening US banking woes, with a regional financials gauge poised for a 0.8% increase this week. Investors will watch for any potential moves by US authorities to limit further contagion risks. Also helping sentiment were signs that the Federal Reserve may be reversing its policy tightening campaign. The regional stock benchmark headed for a 1.2% increase this week, the first weekly gain in three. US payroll figures due later Friday will give further cues on the strength of the job market and where interest rates are headed.

Mainland Chinese stocks slipped on Friday after latest data showed the pace of expansion in services activity softened in April, adding to jitters about an uneven economic recovery. The surge in tourism spending during the Golden Week holidays did little to offset the surprise weakness in the manufacturing sector and lackluster earnings. Right now sentiment is “frustratingly weak” as the market is looking at economic data “with a glass-half-empty lens,” James Wang, head of China strategy at UBS Investment Bank, told Bloomberg TV. “Investors will be more ‘data-dependent’ going forward, and they are also wondering if they should invest directly through Chinese equities or other asset classes.”

Australian stocks gained led by property: the S&P/ASX 200 index rose 0.4% to close at 7,220.00, boosted by real estate and mining shares. Still, the benchmark dropped 1.2% for the week, a third straight loss. The advance comes as investors weighed the prospect of the Federal Reserve reversing its policy-tightening campaign ahead of US jobs data due later Friday. Oil edged higher. In New Zealand, the S&P/NZX 50 index fell 0.7% to 11,889.01.

Indian equities were the worst performers in Asia, dragged down by a sharp selloff in top lender HDFC Bank and its mortgage lender parent, which plunged on worries over potential outflows upon completion of their merger. The S&P BSE Sensex fell 1.1% to 61,054.29 in Mumbai, while the NSE Nifty 50 Index declined 1%. For the week, the gauges were little changed. Domestic stocks had largely rallied from their April lows through Thursday as the earnings season progressed, with banks reporting strong profit growth for the March quarter. The gains were also a result of inflows from foreign investors. “The market has rallied sharply in the last one month and such short term corrections would relieve the overbought set-ups and form a base for the next rally,” according to Ruchit Jain, analyst with 5paisa.com said.

In FX, a gauge of the dollar fell as much as 0.2% as traders waited for US jobs data due later on Friday for more clues on the Federal Reserve’s interest-rate path. The Swiss franc is the weakest of the G-10 currencies, falling 0.6% versus the Greenback after data showed CPI slowed in April. “Markets will watch closely the US non-farm payrolls tonight,” Michael Wan, senior currency analyst at MUFG Bank Ltd., wrote in a note. “Any whiff of meaningful labor market softening will be seen as validating the Fed’s recent decision to turn more data dependent and dovish”

In rates, treasuries were slightly cheaper across the curve ahead of April jobs report, as stock futures advance and pare portion of Thursday losses. Regional banks are higher in pre-market, while Apple also rose after reporting that sales of iPhones rebounded last quarter. Wider losses seen across core European rates adds to downside pressure on Treasuries. Treasury yields cheaper by 2bp to 3bp across the curve with spreads broadly within one basis point of Thursday close; 10- year yields up to around 3.40%, toward top of Thursday range with bunds and gilts underperforming by 5.5bp and 8bp in the sector. Bunds have given back some of Thursday’s post-ECB rally with German two-year yields rising 6bps to 2.54%. Treasuries are also lower ahead of the US jobs report due later today.

In commodities, crude futures advance with WTI rising 1.4% to trade near $69.50. Spot gold falls 0.6% to $2,039.

Bitcoin is firmer and holding steady above the USD 29k, holding towards the top-end of USD 28.7-29.5k.

To the day ahead now, and the main data highlight will be the US jobs report for April. Otherwise, we’ll get German factory orders and French industrial production for March. From central banks, we’ll hear from the Fed’s Bullard and Book, along with the ECB’s Simkus and Elderson.

Market Snapshot

S&P 500 futures up 0.3% to 4,089.50
MXAP up 0.3% to 162.20
MXAPJ up 0.4% to 517.18
Nikkei up 0.1% to 29,157.95
Topix down 0.1% to 2,075.53
Hang Seng Index up 0.5% to 20,049.31
Shanghai Composite down 0.5% to 3,334.50
Sensex down 0.8% to 61,250.67
Australia S&P/ASX 200 up 0.4% to 7,220.01
Kospi little changed at 2,500.94
STOXX Europe 600 little changed at 460.59
German 10Y yield little changed at 2.24%
Euro up 0.1% to $1.1026
Brent Futures up 1.1% to $73.32/bbl
Gold spot down 0.5% to $2,039.77
U.S. Dollar Index down 0.11% to 101.29

Top Overnight News from Bloomberg

China’s Caixin services PMI for April falls a bit short, but holds solidly above 50 (it came in at 56.4, down from 57.8 in Mar and below the Street’s 57 forecast). BBG
Australia’s RBA cut its forecasts for inflation, wages, and GDP this year as monetary tightening weighs on the economy. BBG
Eurozone retail sales dropped by a bigger than expected 1.2 per cent as inflation and rising borrowing costs took their toll on consumer spending in March. The decline meant retail sales had fallen 0.4 per cent in the first quarter, following a 1 per cent drop in the previous quarter, economists said, as they pointed to a weakness in underlying demand. FT
German factory orders fell 10.7 per cent in March from the previous month, a much bigger drop than economists expected, raising concerns about a sharp slowdown in Europe’s biggest economy. The slide in new orders for manufacturers, the biggest since pandemic lockdowns hit in April 2020, reflected declines in all sectors except consumer goods, the federal statistical office said on Friday. FT
Rishi Sunak’s Conservatives on Friday faced crushing losses in UK local elections as voters in many parts of England turned against the party after a tumultuous year. FT
Adidas shares rally in Europe after the company’s Q1 results reassure investors (numbers came in ahead of plan and mgmt. reaffirmed guidance for the year). RTRS
U.S. federal and state officials are assessing whether “market manipulation” caused the recent volatility in banking shares, a source familiar with the matter said on Thursday, as the White House vowed to monitor “short-selling pressures on healthy banks.” RTRS
Fed balance sheet data – outstanding balances on the Big 3 categories being watched closely (Primary Credit/Discount Window, Bank Term Funding Program, and Other Credit) totaled $309.2B as of 5/3, down from $325.4B as of 4/26. Fed
Activist investor Nelson Peltz told the Financial Times that the deposit insurance limit should be increased, with wealthy account holders paying a small insurance premium to the federal insurance fund to safeguard balances of more than $250,000. FT
GIR estimates nonfarm payrolls rose 250k in April (mom sa), above consensus of +182k but a slowdown from the +345k average pace of the last three months. We believe high but falling labor demand more than offset continued layoffs in the information and financial sectors and a roughly 25k hiring drag from reduced credit availability. Big Data employment indicators were strong on net, arguing against a large credit drag. GIR

A more detailed market look courtesy of Newsquawk

APAC stocks traded mixed after the weak lead from the US where risk sentiment was subdued by banking-related headwinds and amid holiday-thinned conditions in Asia due to closures in Japan and South Korea. ASX 200 was choppy amid indecision in the top-weighted financial industry after ANZ Bank’s earnings which showed H1 cash profit rose to a record although the Co. warned of increased difficulties in H2, while the RBA’s quarterly Statement on Monetary Policy stuck to the hawkish script. Hang Seng and Shanghai Comp. diverged with the Hong Kong benchmark led higher by strength in tech and property stocks, while the mainland is pressured after Chinese Caixin Services and Composite PMI data which showed the pace of China’s services activity slowed by more than expected but remained at a firm expansion.

Top Asian News

A bipartisan group of US senators introduced legislation that would allow US President Biden to sign a tax agreement with Taiwan and which addresses an issue viewed as a barrier for further investment, according to Bloomberg.
RBA Statement on Monetary Policy reiterated to do what is necessary to return inflation to the target and that some further tightening may be required to reach the target in a reasonable timeframe. RBA added that the longer inflation remains above target, the greater the risk of a price-wage spiral, as well as noted that goods disinflation is limited so far and energy price inflation is to stay high this year, while rent growth is to pick up and materially added to inflation out to mid-2025.
Earthquake early warning issued for Japan’s Ishikawa prefecture, intensity of 6 on Japan’s 1-7 scale, prelim magnitude of 6.3 (rev. 6.5), according to JMA; Japan earthquake has shaking intensity of 6+ on scale of 7, according to NHK; No tsunami warning issued.
China’s State Planner to study a new round of pork purchases for reserves, amid weakening prices..

European bourses are firmer, Euro Stoxx 50 +0.3%, somewhat shrugging off the mixed APAC handover where regional banking concerns served as a headwind in holiday thinned conditions. The DAX 40 +0.7% is the marked outperformer, aided by German electricity adjustments and strong Adidas earnings, +7.8%; sectors are more of a mixed bag, with Energy outperforming while Travel/Healthcare lag. Stateside, futures are firmer and have been edging slightly higher in typically contained pre-NFP trade after yesterday’s regional banking induced pressures, ES +0.5%. Alibaba’s (BABA) Ant Group’s transformation into a fully regulated company has reportedly been held up by a reshuffle of China’s financial-regulatory system, according to WSJ sources. Cigna Group (CI) Q1 2023 (USD): Adj. Operating EPS 5.41 (exp. 5.22), Revenue 46.4bln (exp. 45.55bln); raises FY23 outlook.

Top European News

German Economy Ministry is proposing a industrial electricity price of EUR 0.06/KWh until 2030, would cost EUR 25-30bn. Funding to be taken from fund initial created for COVID. Reduced price would be valid for 80% of base power consumption.
Sky News noted it is early days regarding the UK local council election results but suggested there are currently encouraging signs in the data for the opposition Labour Party, whilst Conservative MP Mercer said his party is having a “really terrible night”.
ECB’s Villeroy says the alteration in rate increase rhythm is an important signal, favours smaller ECB hiked. Will likely be several more hikes; though, we have done the essential. Goal is to win the fight against inflation, without sparking a recession. Will bring inflation back to target by 2025 maybe even by end-2024.
ECB’s Simkus says May’s hike was not the last, concerns that core inflation remains high.
ECB’s Muller says yesterday’s rate hike will not be the last; no sign yet of core inflation easing.
ECB Survey of Professional Forecasters: 2023 inflation cut to 5.6% from 5.9%, 2023 growth upgraded to 0.6% from 0.2%.

Hawkish RBA SOMP helps Aussie outperform and probe 200 DMA vs Greenback at 0.6728.
Franc deflated after softer than forecast Swiss CPI even though SNB Chief Jordan repeats that further hikes cannot be ruled out given still very high underlying inflation; USD/CHF and EUR/CHF above 0.8900 and 0.9800 respectively
Dollar drifting into NFP with DXY keeping afloat to 101.000 within a tight 101.110-370 range.
Sterling sets fresh 2023 best beyond 1.2600, Loonie pares losses on 1.3500 handle ahead of Canada’s LFS and Euro retains 1.1000+ status amidst more big option expiries, disappointing EZ data and hawkish ECB rhetoric.
PBoC set USD/CNY mid-point at 6.9114 vs exp. 6.9128 (prev. 6.9054)
Russia’s Lavrov says we accumulated billions of IMR in Indian banks and needs to convert them into other currencies.

Fixed Income

Debt retraces further from post-Fed/ECB peaks as risk appetite recovers ahead of NFP.
Bunds also take heed of hawkish-leaning ECB commentary between 136.74-19 bounds.
Gilts down in sympathy within a 101.71-23 range and T-note treading water above 116-00 inside tight 116-03/12 band.

Commodities

Crude benchmarks are firmer, in a continuation of the complex’s upward momentum which commenced in Thursday’s session; albeit, WTI and Brent are still markedly down on the week.
Overall, the complex remains firmly focused on growth concerns and banking-sector woes with broader market action awaiting the upcoming NFP report for the next scheduled catalyst.
Spot gold is incrementally lower, in a USD 2038-2053/oz range after a week of marked gains for the yellow metal. Conversely, base metals are predominantly softer as the DXY attempts to lift off worst levels and after the mixed APAC trade.

Geopolitics

Chinese Foreign Minister Qin, on meeting with Russian Foreign Lavrov, said China will persist in promoting peace talks and is willing to maintain communication and coordination with Russia to make tangible contributions to a political settlement of the Ukraine crisis, according to Reuters.
White House said it is not clear right now that China can put forth a peace plan that Ukrainian President Zelenskiy will support, according to MSNBC.
White House National Security Adviser Sullivan said we will take the necessary action to ensure Iran does not acquire a nuclear weapon and said the US still wants a diplomatic solution to Iran’s nuclear program. Sullivan also commented that he will be in Saudi Arabia this weekend to meet with Saudi leaders and that the US is still working towards the goal of a deal normalising relations between Israel and Saudi Arabia.
Reports suggest a drone attack causes fire at Ilsky refinery in Southern Russia, according to Tass.
Russia’s Foreign Minister Lavrov reiterates we will not say if the drone attack on the Kremlin is a case for war, but we will respond.
Russia’s Wagner group head Prigozhin says their forces will leave Bakhmut on May 10th, forces have to do this due to a lack of ammunition.

US event calendar

08:30: April Change in Nonfarm Payrolls, est. 185,000, prior 236,000
- Change in Private Payrolls, est. 160,000, prior 189,000
- Change in Manufact. Payrolls, est. -5,000, prior -1,000
- Unemployment Rate, est. 3.6%, prior 3.5%
- Underemployment Rate, prior 6.7%
- Labor Force Participation Rate, est. 62.6%, prior 62.6%
- Average Weekly Hours est. 34.4, prior 34.4
- Average Hourly Earnings YoY, est. 4.2%, prior 4.2%
- Average Hourly Earnings MoM, est. 0.3%, prior 0.3%
15:00: March Consumer Credit, est. $17b, prior $15.3b

DB’s Jim Reid concludes the overnight wrap

We have another bank holiday in the UK on Monday, and I’ll be going to my first ever street party to help celebrate the Coronation. I’ve done well to escape one so far in life but my luck has now run out. If something significant breaks in the US regional bank world over the weekend we may still do an EMR on Monday but if not we’ll see you on Tuesday.

There’s no doubt that this is a nervous time for markets as we wait for the next series of resolutions in the US regional banking crisis. Will there be broader deposit guarantees, agreed sales, stressed takeovers or will they manage to organically work their way through their issues? Whatever happens in the next few weeks, the problem is we are not yet in the likely recession where there will be economy-led asset write downs rather than just the mark to market ones, often on high quality bonds, that we have today. The other scary thing is that the attacks are increasingly looking speculative but risk becoming self fulfilling. So it’s certainly not just about fundamentals. Regardless, it’s going to be a long, bumpy and stressful ride over the next few quarters.

Indeed it’s a US regional bank headline crossfire at the moment and perhaps the most impressive thing over the last 24 hours was that the S&P 500 only closed -0.72% lower when the KRE regional bank index was down -5.45%. Having said that, the S&P 500 lost ground for a 4th consecutive day for the first time since February, just as the VIX index of volatility closed back above the 20-mark for the first time since March. The wider KBW Banks index (-3.82%) hit another two-and-a-half year low as every member of the index lost ground.

In terms of the latest developments, investors have continued to focus on a few specific regional banks, including PacWest Bancorp (-50.62%), Western Alliance Bancorp (-38.45%) and First Horizon (-33.16%). News about them continued to swirl through the day, with the FT reporting that Western Alliance were exploring options, “including a potential sale of all or part of its business”. However, Western Alliance themselves pushed back on this, saying that the story was “absolutely false”. Other banks weren’t immune to the contagion either, with losses for Zions Bancorp (-12.05%), Comerica (-12.28%), Citizens Financial Group (-5.22%) and Truist Financial Corp (-6.83%). Toward the end of the US trading session there were reports that the FDIC was planning to unveil a proposal as soon as next week that would see larger banks bear the majority of cost of refilling the Deposit Insurance Fund, which has been depleted in recent weeks. The reports indicated that banks with fewer than $10bn in assets would be exempt, additionally the size of deposits will also be a qualifying criteria. There was a bit of a recovery in US regionals after the bell with for example Western Alliance up around +9% and this erasing a quarter of its regular session losses. S&P futures are back up +0.38%, with the Nasdaq equivalent +0.48%, helped by Apple beating on earnings overnight.

Even in the regular session, the megacap tech stocks were impressively immune from the fallout, with the FANG+ index +0.95%. In terms of details on the Apple beat after the bell, they exceeded forecasts on revenue ($94.8bn vs $92.6bn estimates) even as sales fell 2.5% – which was not as bad as the company guided to. The technology company was trading up +2.5% in after-market trading even as revenues are expected to fall in the current quarter. Otherwise, the Dow Jones (-0.86%) was back in negative YTD territory (-0.06%) before this once again after its latest decline, with the Russell 2000 (-1.18%) index of small-cap stocks closing at a 6-month low.

With the turmoil continuing to gather pace, investors moved to price in the growing chance of rate cuts from the Fed over the rest of the year. For instance, the rate priced in by the December meeting came down by -7.2bps on the day to 4.18%, which is its lowest in nearly a month. The July meeting now sees a 52% probability of a rate cut. This all helped drive a move lower in sovereign bond yields, particularly at the front end, where the 2yr Treasury yield fell -1.5bps to 3.790%, which was its lowest level in almost 8 months. In the meantime, the 10yr yield saw a +4.3bps increase to 3.379%, after being down -4.3bps midday. 2s10s is no more than a couple of basis points off it’s steepest levels of the last 7 months.

Back in Europe, the main news yesterday came from the ECB’s latest policy decision, where they announced a 25bps rate hike that leaves the deposit rate at a post-2008 high of 3.25%, in line with expectations. Although the hike was actually the smallest since their current hiking cycle began last July, there were plenty of hawkish details in the decision. First, they said that they expected to stop the reinvestments under their Asset Purchase Programme as of July. Second, ECB president Lagarde said there were still “significant” upside risks to the inflation outlook. And third, they made clear that there were more rate hikes to come, with Lagarde herself saying “we have more ground to cover and we are not pausing”. See our economists review of the meeting here. They continue to see a terminal of 3.75% with risks skewed towards 4% or even higher.

With the ECB striking a hawkish note, markets reacted by fully pricing in a 25bp hike at their next meeting in June. However, sovereign bond yields still fell back across the continent since investors were more concerned about the US banking system, meaning that yields on 10yr bunds (-5.7bps) and OATs (-3.9bps) were down while BTPs (+0.4bps) were just higher than unchanged on the day. It was much the same story for equities too, with the STOXX 600 (-0.47%) losing further ground as STOXX 600 banks (-1.46%) led the declines.

Whilst recession fears continued to gather pace in markets, one positive side effect for consumers has been the continued decline in commodity prices. Despite a marginal rise yesterday (+0.11%), the Bloomberg’s Commodity Spot Index hit its lowest level since December 2021 on Wednesday, which will be a positive tailwind on the inflation side over the coming months. In part that was driven by lower oil prices, with Brent crude down -8.80% on the week, despite a marginal rise yesterday (0.24%) to $72.50/bbl, which is a level we also haven’t seen since December 2021. At the same time, European natural gas prices (-2.72%) continued their relentless moves lower of late, with the latest move taking them to just €35.65/MWh, marking their lowest level since July 2021.

Looking forward now, the main highlight on today’s calendar will come from the US jobs report for April, which will be an important one for the Fed as they consider whether to pause on rate hikes at their next meeting. Our US economists at DB are looking for nonfarm payrolls to have grown by +150k, which if realised would actually be the slowest monthly growth since December 2020. In turn, that would lift the unemployment rate by a tenth to 3.6%. When it comes to wages, their view is that average hourly earnings growth will remain steady at +0.3%, keeping the annual rate at +4.2%. The release will set us up for the CPI report .

Asian equity markets are mixed this morning with the Hang Seng (+0.54%) leading gains alongside the S&P/ASX 200 (+0.30%). Meanwhile the CSI 300 (-0.58%) and the Shanghai Composite (-0.71%) are currently trading in the red. Elsewhere, markets in Japan and South Korea are closed for a holiday.

Early morning data showed that China’s service activity grew for a fourth straight month in April, continuing its post-Covid recovery, albeit with the Caixin services PMI falling to 56.4 in April from 57.8 in March. Meanwhile, in central bank news, the Reserve Bank of Australia (RBA) in its May statement on monetary policy indicated that it still sees ‘further tightening’ of monetary policy in order to return inflation to target.

Here in the UK, we got some more positive data releases yesterday, which comes ahead of the Bank of England’s decision next Thursday. That included mortgage approvals for March, which came in at a 5-month high of 52.0k (vs. 46.0k expected). Furthermore, the final composite PMI for April was revised up a full point from the flash reading to 54.9, which takes it to its highest level in a year. Keep an eye out on the UK political situation as well today, since local election results will be coming through that’ll offer a better sense of how the political parties are performing ahead of the next general election. Early results don’t look good for the ruling Conservative Party.

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

Sentiment steadies with stocks firmer post AAPL & pre-NFP/Fed speak – Newsquawk US Market Open

FRIDAY, MAY 05, 2023 – 06:35 AM

European bourses and US futures are firmer despite the mixed APAC session as participants await NFP
Within this, DAX 40 outperformers aided by German electricity adjustments and strong Adidas earnings.
ABA is urging the SEC to investigate short-selling activity while the White House is hopeful on avoiding a debt default.
AUD outperforms after hawkish-SOMP while CHF lags post-CPI; USD is softer but relatively rangebound.
Core fixed benchmarks continue to pullback from post-Fed/ECB peaks, despite an uptick on German industrial data.
Commodities are mixed with crude firmer in a continuation of recent price action while metals are generally softer.
Looking ahead, highlights include US & Canadian Labour Market Reports. Speeches from Fed’s Cook & Bullard.

View the full premarket movers and news report.

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

EUROPEAN TRADE

EQUITIES

European bourses are firmer, Euro Stoxx 50 +0.3%, somewhat shrugging off the mixed APAC handover where regional banking concerns served as a headwind in holiday thinned conditions.
The DAX 40 +0.7% is the marked outperformer, aided by German electricity adjustments and strong Adidas earnings, +7.8%; sectors are more of a mixed bag, with Energy outperforming while Travel/Healthcare lag.
Stateside, futures are firmer and have been edging slightly higher in typically contained pre-NFP trade after yesterday’s regional banking induced pressures, ES +0.5%.
Alibaba’s (BABA) Ant Group’s transformation into a fully regulated company has reportedly been held up by a reshuffle of China’s financial-regulatory system, according to WSJ sources.
Cigna Group (CI) Q1 2023 (USD): Adj. Operating EPS 5.41 (exp. 5.22), Revenue 46.4bln (exp. 45.55bln); raises FY23 outlook.
Click here and here for the European equity updates, highlights include: Adidas, IHG, Software AG & more.
Click here for more detail.

FX

Hawkish RBA SOMP helps Aussie outperform and probe 200 DMA vs Greenback at 0.6728.
Franc deflated after softer than forecast Swiss CPI even though SNB Chief Jordan repeats that further hikes cannot be ruled out given still very high underlying inflation; USD/CHF and EUR/CHF above 0.8900 and 0.9800 respectively
Dollar drifting into NFP with DXY keeping afloat to 101.000 within a tight 101.110-370 range.
Sterling sets fresh 2023 best beyond 1.2600, Loonie pares losses on 1.3500 handle ahead of Canada’s LFS and Euro retains 1.1000+ status amidst more big option expiries, disappointing EZ data and hawkish ECB rhetoric.
PBoC set USD/CNY mid-point at 6.9114 vs exp. 6.9128 (prev. 6.9054)
Russia’s Lavrov says we accumulated billions of IMR in Indian banks and needs to convert them into other currencies.
Click here for more detail.
Click here for the notable FX expiries for today’s NY cut.

FIXED INCOME

Debt retraces further from post-Fed/ECB peaks as risk appetite recovers ahead of NFP.
Bunds also take heed of hawkish-leaning ECB commentary between 136.74-19 bounds.
Gilts down in sympathy within a 101.71-23 range and T-note treading water above 116-00 inside tight 116-03/12 band.
Click here for more detail.

COMMODITIES

Crude benchmarks are firmer, in a continuation of the complex’s upward momentum which commenced in Thursday’s session; albeit, WTI and Brent are still markedly down on the week.
Overall, the complex remains firmly focused on growth concerns and banking-sector woes with broader market action awaiting the upcoming NFP report for the next scheduled catalyst.
Spot gold is incrementally lower, in a USD 2038-2053/oz range after a week of marked gains for the yellow metal. Conversely, base metals are predominantly softer as the DXY attempts to lift off worst levels and after the mixed APAC trade.
Click here for more detail.

NOTABLE HEADLINES

German Economy Ministry is proposing a industrial electricity price of EUR 0.06/KWh until 2030, would cost EUR 25-30bn. Funding to be taken from fund initial created for COVID. Reduced price would be valid for 80% of base power consumption.
Sky News noted it is early days regarding the UK local council election results but suggested there are currently encouraging signs in the data for the opposition Labour Party, whilst Conservative MP Mercer said his party is having a “really terrible night”.
ECB’s Villeroy says the alteration in rate increase rhythm is an important signal, favours smaller ECB hiked. Will likely be several more hikes; though, we have done the essential. Goal is to win the fight against inflation, without sparking a recession. Will bring inflation back to target by 2025 maybe even by end-2024.
ECB’s Simkus says May’s hike was not the last, concerns that core inflation remains high.
ECB’s Muller says yesterday’s rate hike will not be the last; no sign yet of core inflation easing.
ECB Survey of Professional Forecasters: 2023 inflation cut to 5.6% from 5.9%, 2023 growth upgraded to 0.6% from 0.2%.

DATA RECAP

German Industrial Orders MM (Mar) -10.7% vs. Exp. -2.2% (Prev. 4.8%, Rev. 4.5%)
Swiss CPI YY (Apr) 2.6% vs. Exp. 2.8% (Prev. 2.9%); MM (Apr) 0.0% vs. Exp. 0.2% (Prev. 0.2%)
EU S&P Global Construction PMI (Apr) 45.2 (Prev. 45.0)
EU Retail Sales YY (Mar) -3.8% vs. Exp. -3.1% (Prev. -3.0%, Rev. -2.4%); MM (Mar) -1.2% vs. Exp. -0.1% (Prev. -0.8%, Rev. -0.2%)

NOTABLE US HEADLINES

Fed Discount Window borrowing at USD 5.3bln on May 3rd (prev. 73.9bln on April 26th), BTFP at USD 75.8bln (prev. 81.3bln), Other Credit at USD 228.2bln (prev. 170.4bln), while First Republic (FRC) Discount Window and BTFP borrowing shifted to ‘Other Credit’, according to Reuters.
American Bankers Association urged the SEC to investigate short-selling activity that does not reflect firms’ financial status, as well as take measures to reduce avenues of abusive trading practices and restore investor confidence
White House OMB Director Young is hopeful about finding a path to avoid a debt default and said they will have to work through how long the debt limit is extended for, while she also commented that prioritising payments is a default by another name and that nothing is off the table in terms of the potential length of debt ceiling extension.
Apple Inc (AAPL) Q2 2023 (USD): EPS 1.52 (exp. 1.43), Revenue 94.84bln (exp. 92.96bln), Products revenue 73.93bln (exp. 71.91bln), iPhone revenue 51.33bln (exp. 48.97bln), iPad revenue 6.67bln (exp. 6.69bln), Mac revenue 7.17bln (exp. 7.74bln), Co. authorised an additional USD 90bln for share repurchases. Co. shares were higher by 2.5% after-hours.
Click here for the US Early Morning Note.

GEOPOLITICS

Chinese Foreign Minister Qin, on meeting with Russian Foreign Lavrov, said China will persist in promoting peace talks and is willing to maintain communication and coordination with Russia to make tangible contributions to a political settlement of the Ukraine crisis, according to Reuters.
White House said it is not clear right now that China can put forth a peace plan that Ukrainian President Zelenskiy will support, according to MSNBC.
White House National Security Adviser Sullivan said we will take the necessary action to ensure Iran does not acquire a nuclear weapon and said the US still wants a diplomatic solution to Iran’s nuclear program. Sullivan also commented that he will be in Saudi Arabia this weekend to meet with Saudi leaders and that the US is still working towards the goal of a deal normalising relations between Israel and Saudi Arabia.
Reports suggest a drone attack causes fire at Ilsky refinery in Southern Russia, according to Tass.
Russia’s Foreign Minister Lavrov reiterates we will not say if the drone attack on the Kremlin is a case for war, but we will respond.
Russia’s Wagner group head Prigozhin says their forces will leave Bakhmut on May 10th, forces have to do this due to a lack of ammunition.

CRYPTO

Bitcoin is firmer and holding steady above the USD 29k, holding towards the top-end of USD 28.7-29.5k.

APAC TRADE

APAC stocks traded mixed after the weak lead from the US where risk sentiment was subdued by banking-related headwinds and amid holiday-thinned conditions in Asia due to closures in Japan and South Korea.
ASX 200 was choppy amid indecision in the top-weighted financial industry after ANZ Bank’s earnings which showed H1 cash profit rose to a record although the Co. warned of increased difficulties in H2, while the RBA’s quarterly Statement on Monetary Policy stuck to the hawkish script.
Hang Seng and Shanghai Comp. diverged with the Hong Kong benchmark led higher by strength in tech and property stocks, while the mainland is pressured after Chinese Caixin Services and Composite PMI data which showed the pace of China’s services activity slowed by more than expected but remained at a firm expansion.

NOTABLE ASIA-PAC HEADLINES

A bipartisan group of US senators introduced legislation that would allow US President Biden to sign a tax agreement with Taiwan and which addresses an issue viewed as a barrier for further investment, according to Bloomberg.
RBA Statement on Monetary Policy reiterated to do what is necessary to return inflation to the target and that some further tightening may be required to reach the target in a reasonable timeframe. RBA added that the longer inflation remains above target, the greater the risk of a price-wage spiral, as well as noted that goods disinflation is limited so far and energy price inflation is to stay high this year, while rent growth is to pick up and materially added to inflation out to mid-2025.
Earthquake early warning issued for Japan’s Ishikawa prefecture, intensity of 6 on Japan’s 1-7 scale, prelim magnitude of 6.3 (rev. 6.5), according to JMA; Japan earthquake has shaking intensity of 6+ on scale of 7, according to NHK; No tsunami warning issued.
China’s State Planner to study a new round of pork purchases for reserves, amid weakening prices..

DATA RECAP

Chinese Caixin Services PMI (Apr) 56.4 vs. Exp. 57.3 (Prev. 57.8); Composite PMI (Apr) 53.6 (Prev. 54.5)

2 c. ASIAN AFFAIRS

ASIAN AND AUSTRALIAN CLOSINGS//EUROPE OPENING TRADING:

FRIDAY MORNING/THURSDAY NIGHT

2 d./NORTH KOREA/ SOUTH KOREA/

///NORTH KOREA/SOUTH KOREA/

2e) JAPAN

JAPAN

END

3 CHINA /

CHINA///

end

4.EUROPEAN AFFAIRS//UK /SCANDAVIAN AFFAIRS

ECB

END

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

special thanks to Robert H for sending this to us;

A VIEW FROM THE EDGE OF THE ABYSS – A Son of the New American Revolution

Zelensky is a dead man walking as are his cronies. Whether he returns to Ukraine or not he is in his last days along with the Neocons of America and NATO. In less than 2 years the Ship of Fools has thrown away decades of hegemony allowing America to display its‘ inherent weakness in a military sense. While at the same time imploding the Federal Reserve System which is hardly American to coming pain to those who believed control was theirs.

What remains to be seen is how many 10’s of thousands of Ukrainians will die along with similar number of Polish and American troops along with other willing parties to die in vain. Showing how NATO wants to break up Russia into 41 states for plunder on a map publicly was beyond stupid, as Russians clearly understand what awaits them if they lose the conflict. And they will not lose, even if they have to resort to nuclear weapons. And there is distance before that happens. However, one should expect the pain level will be turned up.

Daily more and more countries are settling trade in national currencies bypassing the dollar. Making it clear that the blindness of Neocon ideology is ensuring the destruction of a world order highjacked in failed philosophy. Of course history tells blindness of ideology always causes a doubling down on failed plans ending up in disaster.

Decades of corruption, lies, theft and rot are all floating to the surface at the same time in everything from metals markets to currency acceptance to willingness to supply, to simple indifference where listening is no longer desired. Even internal investigations of US congressional committees are revealing gross corruption that some parties will one day call treason. Leading to one day soon to determine whether there is a court of justice for such activities. Internationally, many doors are closing on so called leadership that is seen with distrust and wallets are closed to fund continued looting. When illusory money and wealth creation vanishes one will see those with wealth and those swim naked unable to deceive anymore.

As spring turns to summer, rejection of this behavior will grow much louder as nations choose alternatives. And while perhaps these alternatives have their own warts and questions, it is clear that the West as it is known is being abandoned to find its’ own path forward. All of this will lead to changes that will be transformational rewarding countries and cultures that produce physical goods while adjusting the value of nations who consume without value to give. It is really simple but difficult to realize that our world has been changed and will undergo changes while frightening causing immense new opportunities as a global community adjusts. This will also flush out many false claims of value that no longer serve use going forward from empty office towers to empty cities no longer able to hide the truth of value. And in the changing world, the age of globalist power often built on lies and collusion of agencies and the like will find itself rejected and impossible to maintain.

A new world awaits everyone where the only constant for a period of time will be change as these ongoing changes will likely take a decade or more before it settles down as readjustments are made.

https://sonar21.com/a-view-from-the-edge-of-the-abyss/

end

UKRAINE/RUSSIA

Russia cancels V Day parades as Ukraine fires massive drone attack on Russia

(zerohedge)

21 Russian Cities Cancel V-Day Parades As Tit-For-Tat Drone War Heats Up

FRIDAY, MAY 05, 2023 – 02:45 AM

Russia has witnessed several drone attacks against its territory and infrastructure over the past 24 hours, following the pair of drones sent against Kremlin buildings in the heart of Moscow, which was denounced as an assassination attempt on Putin.

Separate overnight drone attacks damaged oil refineries in the southern oblasts of Rostov and Krasnodar. The Krasnodar attack involved four drones and caused a large fire, while the Rostov attack resulted in limited damage. Russia’s RT counts multiple recent incidents, detailing: “Earlier in the week, there was a drone incident at another oil facility in the same region, and last week, an oil terminal was hit in the city of Sevastopol in Crimea.”

“Kiev claimed responsibility for the latter, stating that the attack was meant to disrupt Russian military logistics ahead of the long-expected Ukrainian counteroffensive.”

This flurry of attacks from Ukraine, possibly with help from Western intelligence (as Moscow is currently alleging), has put the Russian population on edge just ahead of planned annual military parades commemorating the Soviet victory in World War II. Last year’s events, nearer the start of the war, were also toned down and some of them scrapped altogether.

The ‘Victory Day’ holiday on May 9th typically involves large military parades in the centers of dozens of cities, but the stepped-up drone attacks have unnerved authorities:

At least 21 Russian cities have called off their annual military parades marking the Soviet victory in World War II next week, the independent Vyorstka media outlet reported Thursday, as the country has alleged a flurry of drone attacks on its territory ahead of a Ukrainian counteroffensive.

…Cities near Russia’s border with Ukraine, which have faced repeated shelling and drone strikes in the 14 months since Moscow launched its offensive on Kyiv, will not hold their Victory Day parades.

Already Moscow authorities are taking extreme precautions, which has included sealing off Red Square to the public for two weeks ahead of festivities.

Some of the westernmost regions near Ukraine had already canceled their pubic events weeks ago, including hard-hit Belgorod as well as Kursk regions. Belgorod recently had four civilians die as a result of Ukrainian drone and missile strikes. It has suffered sporadic cross-border incidents throughout the conflict, given its close proximity to the border.

No-fly zones, including for small drones, have also been imposed over major cities, notably Moscow and St. Petersburg. This as the Ukrainians have gotten more brazen, even as the much-touted Spring counteroffensive has stalled, with the main reason given being the mud and weather factors.

Ukraine is bracing for Russian retaliatory attacks…

Later into the evening hours Thursday (local time), intense drone activity was reported over Kiev. It seems Russia has initiated a retaliatory response for the Wednesday drone strike on the Kremlin.

Stunning video has emerged of a successful intercept by anti-air defenses over the Ukrainian capital:

Air raid sirens reportedly went off in the capital as the Ukrainian population braces for more possible Russian retaliatory strikes, which have already increased in prior days amid reports Kiev could be finally readying its major counteroffensive.

end

This is interesting: the Wagner group is threatening to pull out of Bakhmut unless they get ammo.

(zerohedge)

Wagner Chief Warns His Forces To Exit Bakhmut On May 10 While Military Leaders “Sit Like Fat Cats”

BY TYLER DURDEN

FRIDAY, MAY 05, 2023 – 10:40 AM

The infighting between Wagner Group mercenary firm and Russia’s defense ministry has come to a head, as on Friday Wagner chiefYevgeny Prigozhin declared he’s withdrawing his forces from Bakhmut on May 10 for lack of ammunition. He’s issued fierce complaints for weeks that ammunition is being withheld from the military chain of command as internal tensions have exploded into public view.

“I declare on behalf of the Wagner fighters, on behalf of the Wagner command, that on May 10, 2023, we are obliged to transfer positions in the settlement of Bakhmut to units of the Defense Ministry and withdraw the remains of Wagner to logistics camps to lick our wounds,” Prigozhin said.

“I’m withdrawing Wagner PMC units because without ammunition, they are doomed to a senseless death,” Prigozhin continued, asserting that his firm had fallen “out of favor with envious near-military bureaucrats.”

The day prior to this he issued a separate dramatic battlefield video on Telegram declaring “We are lacking 70% of the needed ammunition!” The clip is dramatic and disturbing as it shows Prigozhin standing over dozens of his fighters killed on the Ukrainian battlefield, while blaming their deaths on lack of adequate support.

In the video, he expressly calls out the defense minister and chief of the armed forces: “Shoigu, Gerasimov, where … is the ammunition?” says Prigozhin. “The blood is still fresh,” he says of bodies around him. “They came here as volunteers and are dying so you can sit like fat cats in your luxury offices.”

It is by far the most scathing attack on the regular chain of command as well as unsupportive politicians at home launched by the Wagner chief, following weeks of public verbal denunciations and even warnings to take the matter directly to Putin, who is no doubt fully aware of the spat. The Thursday social media message included the following moment:

“These are someone’s f**king fathers and someone’s sons. And you f**kers who aren’t giving [us] ammunition, you b*tches, will have your guts eaten out in hell!” yelled Prigozhin in Thursday’s video.

Prigozhin has already threatened to quit Bakhmut before – but it would be a huge blow to the Russian advance there, given they already control some 90% of the strategic city in Donetsk oblast. There’s growing speculation that this rift has sparked elite infighting within the halls of the Kremlin.

He’s repeatedly charged the regular military command with “betraying” his fighters by withholding ammunition in the ongoing spat which became public with the Russian seizure of Soledar. A Wagner statement at the time declared victory over the city for itself, but controversially didn’t acknowledge the role of the regular military. The infighting has increasingly been out in the open since then, and is no doubt somewhat of an embarrassment while facing down NATO and the Western allies.

end

SUDAN//USA

Biden continues to bungle things and the Sudan crisis is one of them:

(zerohedge)

After Bungling Sudan Crisis Response, Biden’s Solution: More Sanctions

THURSDAY, MAY 04, 2023 – 11:00 PM

The Biden administration has come under intense criticism for its meager and flat-footed response to the Sudan crisis, now reaching three full weeks, and with over 550 people killed and thousands wounded. Each time a truce is declared, it is quickly broken with gunfire and shelling in and around Khartoum. Two Americans were reported killed near the start of the violence. Thousands of US citizens reportedly remain in the country.

Biden’s solution? Sanction more stuff… “President Biden on Thursday called for an end to the violence among warring factions in Sudan and expanded his administration’s ability to sanction individuals who undermine peace and stability in the war-torn nation,” The Hill reports.

Biden said in a statement, “The violence taking place in Sudan is a tragedy—and it is a betrayal of the Sudanese people’s clear demand for civilian government and a transition to democracy.”

“I join the peace-loving people of Sudan and leaders around the world in calling for a durable ceasefire between the belligerent parties,” he continued. “This violence, which has already stolen the lives of hundreds of civilians and began during the holy month of Ramadan, is unconscionable.”

He emphasized, the conflict “must end.” Biden said further: “Our diplomatic efforts to urge all parties to end the military conflict and allow unhindered humanitarian access continue, as do our efforts to assist those remaining Americans, including by providing them information on exit options.”

The newly announced measures allow the US to expand sanctions on any individual or entity which is threatening the peace and stability of Sudan. The executive order authorizes potential sanctions on any Sudanese officials involved in “destabilizing the country and undermining the democratic transition.” We highly doubt either of the two rival generals locked in conflict will care – certainly the threat of sanctions will have no force with them. It will be no ‘deterrent’ to anything.

The two generals now fighting over the capital had previously united in a 2021 coup to take shared control of the country. The battles pit the Sudanese Armed Forces (SAF) led by General Abdel Fattah al-Burhan against the Rapid Support Forces (RSF) of General Mohamed Hamdan Dagalo — who’s also known as Hemedti and has served as Burhan’s deputy head of state.

However, recent months have seen mounting tensions between the SAF and RSF, as the generals have clashing positions in negotiations for the establishment of civilian government, something the country’s been trying to achieve since a 2019 revolution overthrew the 30-year reign of President Omar al-Bashir.

There’s been a significant evacuation operation underway by many global countries since the outbreak of street to street fighting, including China which has even sent warships to take its nationals from Sudan’s Red Sea ports. The US State Department, however, has been accused of turning a blind eye.

END

TURKEY

Turkey’s election is on the 14th of May and why it is important

(Bay/EpochTimes)

Why Turkey’s May 14 Election Really Matters

FRIDAY, MAY 05, 2023 – 02:00 AM

Authored by Austin Bay via The Epoch Times (emphasis ours),

Turkey’s May 14, 2023, national elections are critical, foremost for Turkish citizens. Their democracy is at stake.

But that isn’t the only reason Turkish and European media call next week’s vote the most important in 100 years. The election, which pits the President Recep Tayyip Erdogan against the much more moderate Kemal Kilicdaroglu, also affects NATO solidarity, political stability in Eastern Europe, and the West’s ability to counter Iran, Russia, and China in the Middle East.

Erdogan, who leads the moderate Islamist Justice and Development Party (AKP), advocates the “executive presidency” (authoritarian power and control vested in the president). Kilicdaroglu, head of the Republican People’s Party (CHP), is a moderate pro-parliamentary process candidate. He is backed by a six-party coalition committed to ending Erdogan’s reign of economic error, police intimidation, and, in the wake of the February earthquakes, destructive corruption.

For Turks the 100-year mark has genuine significance. A century ago, in 1923, from the WWI ruins of the Ottoman Turk empire, Mustafa Kemal Ataturk established the secular Turkish Republic—a nonsectarian republic in an overwhelmingly Muslim nation.

Ataturk was a true revolutionary. To state the grand historical case, he is the only man to successfully create a political system to modernize a culturally Islamic nation. Ataturk pursued economic modernization. He emancipated women and ended the Islamic Caliphate—both acts horrifying radical Islamists then and now. In 2001 Osama bin Laden was still condemning him.

Turkey’s 21st-century democracy is Ataturk’s legacy.

Erdogan, a man notoriously jealous of Ataturk, intentionally attacks and diminishes Turkey’s democratic institutions. Since 2003, when Erdogan became prime minister, year by year Turkey’s government has become less secular and more authoritarian as Erdogan forged his powerful executive.

His record for jailing journalists and intimidating opponents is fact, not theory.

He is also a threat to the integrity of NATO, which means he’s a threat to U.S. security. When he purchased the Russian-made S-400 air defense system, Erdogan put the F-35 Joint Strike Fighter’s technological edge at risk.

When it serves him, Erdogan values NATO’s commitment to defend Turkey. In April 2012, after confrontations with Syrian troops, he suggested he might invoke NATO Article 5 if fire spilled across the border. However, his deliberately rogue behavior has damaged the alliance. He continues to oppose Swedish membership. As recently as January 2023, good rumor had it that active and retired NATO officials were so concerned about Erdogan’s unreliability that NATO ought to consider expelling Turkey.

Kilicdaroglu says he will revive Turkey’s bid to join the European Union and support Sweden’s admission.

Erdogan’s economic and political mismanagement may lead to his defeat.

In 2002 Erdogan won his first national election on a platform to attack inflation, improve the economy, and fight corruption. In fall 2022 annual inflation hit 86 percent, a 24-year high.

The February earthquakes were the worst natural disaster in the history of modern Turkey—the Feb. 6 quake might be the biggest in 2,000 years.

In Turkey an estimated 280,000 buildings were either destroyed or suffered “structural compromise” so they must be abandoned. The number is a fact, not an opinion. In early April Turkey’s interior ministry raised the death toll to 50,399. Relief organizations reported around 1.5 million Turks who survived the earthquakes were still living in tents or other temporary facilities.

Erdogan’s slow and poor response has made the earthquakes an election issue he cannot shake.

Did cronyism hamper recovery? Turkey’s Disaster and Emergency Management Presidency (AFAD, the agency tasked with handling the disaster) is run by a political appointee who has little emergency management experience.

Government failure to enforce construction standards is definitely an issue. Some critics suspect corruption by national and local officials contributed to the disaster. Government “construction amnesties” allowed builders to ignore safety codes in areas where housing shortages existed. In 2018 Erdogan allowed one in the city of Kahramanmaras. In March 2019 he publicly touted new housing in Kahramanmaras as one of his administration’s major achievements.

In February the quakes leveled the city.

Views expressed in this article are the opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

END

END

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

GLOBAL ISSUES

Vaccine issues:

Restrictions On Ivermectin Dropped In Australia

THURSDAY, MAY 04, 2023 – 10:00 PM

Authored by Jessie Zhang via The Epoch Times (emphasis ours),

Australian medical practitioners can now prescribe ivermectin for COVID-19 among other diseases under new rules confirmed by the nation’s therapeutic goods authority.

The Therapeutic Goods Administration (TGA) announced on May 3 that the prescribing of oral ivermectin will no longer be limited to specialists such as dermatologists, gastroenterologists, and infectious diseases specialists.

The move—which takes effect from June 1, 2023—comes amid high rates of vaccination and hybrid immunity against COVID-19 in Australia and thus the use of ivermectin by individuals is unlikely to now compromise public health, the TGA said in a statement.

Despite ivermectin being regularly administered in countries including India, Brazil, and Africa, TGA said that approved vaccines and treatments should still be the preferred choice due to most studies showing that ivermectin is not a useful medicine for COVID-19.

“A large number of clinical studies have demonstrated ivermectin does not improve outcomes in patients with COVID-19,” the TGA statement said.

“The National Covid Evidence Taskforce (NCET) and many similar bodies around the world, including the World Health Organization, strongly advises against the use of ivermectin for the prevention or treatment of COVID-19.”

The Pharmacy Guild of Australia even wrote to the panel and advised against removing the Appendix D entry relating to ivermectin because they think that if the treatment is available, people may choose not to get vaccinated.

However, after weighing all risks, the TGA concluded that restrictions should still be removed.

“The risk of medical professionals prescribing ivermectin at higher doses, or for use against COVID-19, is low given the overwhelming evidence against ivermectin use for this indication,” TGA stated.

Drug Banned Because It Was a Threat to Vaccination Uptake

Australia banned general practitioners from prescribing ivermectin in Sep. 2021.

“The concern was the likelihood that persons prescribed the drug for COVID-19 would believe themselves protected and would not get vaccinated, and would not seek the appropriate medical care if symptoms developed,” the notice of the final decision by TGA said.

“This would pose a significant risk to the community through the spread of the disease as well as the risks to individuals using ivermectin for this purpose.”

They said that ivermectin was being advocated for use in “unreliable social media posts,” increasing the risk of overdose and misuse.

Additionally, they argued that there were national shortages, although little detail was provided about the supply issues in Australia or in other countries. India even reported an excess production capacity of 23 million units a month of ivermectin.

Study Finds Ivermectin Kills COVID-19

However, in a peer-reviewed study by Monash University in Australia, published in April 2020, it was demonstrated that ivermectin could eliminate SARS-Covid-19-2 in cells in 48 hours.

The team, who have been researching ivermectin for over ten years with different viruses, discovered that a dose of ivermectin could stop the SARS-CoV-2 virus from growing in cells.

“We found that even a single dose could essentially remove all viral RNA by 48 hours and that even at 24 hours, there was a really significant reduction in it,” senior research fellow and lead study author Kylie Wagstaff said.

“Ivermectin is very widely used and seen as a safe drug,” Wagstaff said.

The scientists said that the FDA-approved anti-parasitic drug has also been shown to be effective in vitro against a broad range of viruses, including HIV, Dengue, Influenza, and Zika virus.

They started investigating whether it worked on the COVID-19 virus as soon as the pandemic was known to have started.

However, the researchers announced a year later that they had paused their work due to insufficient sample size despite securing funding for clinical trials.

“The low numbers of COVID cases in Australia in 2020 meant the planned trial in Australia had to be paused,” the Monash University laboratory said in an ivermectin research progress update in Aug. 2021.

“The establishment of a trial depends on Australian and overseas circumstances and will be communicated when we are in a position to do so.”

Industry Incentives Under Scrutiny

Meanwhile, pharmaceutical authorities around the world are under growing scrutiny over the funding many receive from the industry itself, with an investigation revealing that half of their funding comes from the pharmaceutical industry—the industry they are supposed to be regulating.

In a report, published in the British Journal of Medicine, it was discovered that the U.S. FDA receives 65 percent of its funding from the pharmaceutical industry, the MHRA (UK) receives 86 percent, and the Australian TGA receives 96 percent of its funding from the pharmaceutical industry.

Additionally, award-winning investigative journalist Maryanne Demasi found in the report that the TGA approved 94 percent of all applications between 2020 to 2021.

She filed for FOIA report to get disclosures on the TGA committee members who had conflicts of interest in their approval of the mRNA vaccines, but the TGA allegedly redacted the identity of these members, highlighting that it was personal information.

The final decision to remove restrictions on ivermectin prescriptions followed an application to remove the rules, according to the process required under the Therapeutic Goods Act 1989.

It also took into account advice from an independent advisory committee on the scheduling of medicines and two rounds of public consultations.

END

Dr. McCullough Discovers Alarming Study out of China: “mRNA technology has just entered a whole new, much darker phase”

BY THE WELLNESS COMPANY

Dr. Peter McCullough, outspoken critic of COVID-19 mandates and jabs, uncovered an alarming scientific study coming from the Chinese researchers Quan Zhang et al. innocuously titled: “An oral vaccine for SARS-CoV-2 RBD mRNA-bovine milk-derived exosomes induces a neutralizing antibody response in vivo.”

As someone who treated myocarditis patients on the frontline, Dr. McCullough’s warnings about this should be listened to carefully:

“Children could be targeted with easily administered oral vaccine dosing or potentially get mRNA through milk at school lunches and other unsupervised meals. For those who have taken one of the COVID-19 vaccines, having milk vaccines as an EUA offering would allow even more loading of the body with synthetic mRNA which has been proven resistant to ribonucleases and may reside permanently in the human body…

mRNA technology has just entered a whole new, much darker phase of development. Expect more research on, and resistance to, mRNA in our food supply. The Chinese have just taken the first of what will probably be many more dangerous steps for the world.”

Indeed, many more reports have surfaced recently of farmers in the USA and EU using mRNA-based vaccines on their livestock to “help protect against disease.”

Thankfully, you can protect yourself regardless of the source mRNA. According to Dr. McCullough, the best-known defense against mRNA-carrying spike proteins is a daily dose of over-the-counter nattokinase:

“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 and is designed by Dr. Peter McCullough and his team.

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

Nattokinase(enzyme shown to dissolve spike protein)
Selenium (aids in helping the body repair itself and recover)
Dandelion root (may prevent spike protein from binding to cells)
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. McCullough discussing how nattokinase works in attacking the dangerous spike protein:

People are saying about The Wellness Company’s Spike Support Formula:

“I saw Dr. McCullough talk about the product and decided to give it a try. A month and a half later, I feel sooo much better. I also have recommended the product to family members to help them detox from the painful side effects of the vaccine.”

“I feel like I have had brain fog for the past 18 months and after taking this supplement noticed the fog lifting finally. I plan to buy more for myself and now a friend suffering from heart issues.”

“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.

END

CDC Director Rochelle Walensky Is Leaving The Agency

FRIDAY, MAY 05, 2023 – 01:00 PM

Rochelle Walensky, the director of the disgraced Centers for Disease Control and Prevention, is leaving the agency, President Joe Biden announced during a press conference on Friday.

“Dr. Walensky has saved lives with her steadfast and unwavering focus on the health of every American,” President Biden said in a statement.

“As Director of the CDC, she led a complex organization on the frontlines of a once-in-a-generation pandemic with honesty and integrity. She marshalled our finest scientists and public health experts to turn the tide on the urgent crises we’ve faced.”

“Dr. Walensky leaves CDC a stronger institution, better positioned to confront health threats and protect Americans,” Biden added.

“We have all benefited from her service and dedication to public health, and I wish her the best in her next chapter.”

Walensky’s exit comes days before the federal government is set to end the public health emergency around COVID-19, and hours after the WHO declared that the Covid pandemic “global health emergency” is now over.

She has led the agency since the start of the Biden administration in January 2021; under her guidance US citizens were subjected to draconian mask and vaccine mandates which, it is now emerging, have been more harmful for the population than the actual virus.

END

DR PAUL ALEXANDER:

‘Former 3-time U.S. Olympic medalist Tori Bowie dead at the age of 32’; this is either steroids e.g. Flo Jo or this is mRNA technology vaccine-induced; I say the latter, this is COVID mRNA vaccine

until I am shown otherwise, in this era, because no cause etc. was stated, there is a reason…did she get the COVID gene shots? if so, how many? a young fit runner don’t just die like this!

DR. PAUL ALEXANDERMAY 5

———- Forwarded message ———
From: Dr. Paul Alexander from Alexander COVID News<palexander@substack.com>
Date: Thu, May 4, 2023 at 7:04 PM
Subject: Turbo Cancer Leukemia: Children From Ages 11 to 21 Are Dying Within Hours or Days of Cancer Diagnosis; recall the …
To: <sabioncello@gmail.com>


	Open in app or online Turbo Cancer Leukemia: Children From Ages 11 to 21 Are Dying Within Hours or Days of Cancer Diagnosis; recall the case of 16 year old Kyle Limper I prior wrote about (see my substack below); Makis’sKyle died within 24 hours of cancer diagnosis; see Makis’s stack and this tremendous rendition by Global ResearchDR. PAUL ALEXANDERMAY 4 SHARE TURBO cancers, which are blindingly rapid, vicious, from diagnosis to rapid metastasis, often death as soon as diagnosis. We are seeing cancers that are in remission flaring up, and metastasis happening at speeds never seen before. Why? Is it the COVID gene injection? All evidence suggests YES! When will they listen, when will the proper studies be done and when will this mRNA technology injection be stopped?Malone, Kariko, and Weissman’s mRNA technology based gene injections appear to damage and subvert the P53 pathway and when there is cancer, the P53 pathway is hobbled. mRNA gene injection does this. The majority of the human cancer cells exhibit the inactivation of the P53 pathway. P53 tumoro suppressor protein play critical roles in DNA damage responses, apoptosis, autophagy, and cellular metabolism.ASOURCE:https://ca.style.yahoo.com/just-nightmare-philadelphia-teen-dies-174510585.html‘Kyle Limper died shortly after being diagnosed with leukemia on April 13.A Philadelphia teen’s family is grieving after their son suddenly died just 24 hours after being diagnosed with cancer. Kyle Limper was a seemingly healthy 16-year-old, participating in several sports and consistently earning A’s at Penn Treaty High School until his family says he began complaining about back pain one day after a recent basketball game. He was taken to a hospital to be checked out and was told to come back in a few days if he began to feel worse, the teen’s father, Ken Limper, told Fox 29.’S

Atlas: “America’s COVID Response Was Based on Lies”; I agree 100% & add to the list of lies for Scott, myself, Kulldorff, Bhattacharya, Gupta, Berenson, Ioannidis, Oskoui, McCullough, Risch, Smith et

al. were crying out, screaming early 2020 to open up & shut down, do not close schools, do not close businesses, stop the fraud ineffective toxic masks; protect the vulnerable ONLY, no mass testing

DR. PAUL ALEXANDERMAY 4

No doubt we could grant them the first 2 weeks of lockdowns if any, but that was it, for soon after shutdown we knew the data and it was clear who was at risk, how to manage them, we knew about early treatment, we knew the lockdowns were harming and would kill, we knew the school closures would kill, we knew that there was no basis to mass test or isolate asymptomatic people. Yet they lied and hardened the lockdowns. Here are Scotts proposed lies of which I too have written about and I add more for your consideration (incidentally Scott was maligned and smeared when he maybe was one who did more for the US than the full Task Force, I knew him and I found a principled great brilliant American):

1. SARS-CoV-2 coronavirus has a far higher fatality rate than the flu by several orders of magnitude. A blatant lie! Infection fatality rate (IFR) was at or below seasonal flu. We knew that COVID was sparing our kids and teens while influenza killed the young as well as elderly. We knew 2-3 weeks out that the median age of death from COVID was about 83 years with 2-3 underlying medical conditions. IMO and others like me we never saw it as any comparison and another data point that is critical to wrap your heads around is this: the average life expectancy is about 79 years while COVID kills on average and median of 82 to 83 years. COVID killed beyond life expectancy.

2. Everyone is at significant risk to die from this virus. A pure lie for there was a 1000 fold difference in risk between 85 year old granny and 10 year old Johnny based on age and risk.

3. No one has any immunological protection, because this virus is completely new. A lie for we knew very early on that this was not a ‘novel’ pathogen, our immune systems had seen it in some manner. My work at Brownstone showed that natural immunity was robust and far superior than COVID vaccine induced immunity, across prior pathogens and COVID virus (e.g. 2,500 years ago for the Athenian plague and 100 years ago even looking at blood of survivors from Spanish Flu):

4. Asymptomatic people are major drivers of the spread. A blatant lie for we found no evidence of this, still today, May 2023.

5.Recurrent infections, a lie, pre-omicron, we were not finding bona fide cases. This was done to scare you to lockdown and mask and take the fraud, deadly, safety untested Malone, Kariko & Weissman invented mRNA technology based gene injection.

6. Locking down—closing schools and businesses, any of the shielding, confining people to their homes, stopping non-COVID medical care, and eliminating travel—will stop or eliminate the virus. This actually harmed and killed people. My work (with Risch, McCullough, Oskoui, Tenenbaum, Dara) at Brownstone and AIER showed early that the lockdowns and school closures were failures and harmed people:

7. Masks will protect everyone and stop the spread. A lie, all evidence we have summarized (see my work in Brownstone) show that the blue surgical masks, the white cloth masks, all of them, were always ineffective and toxic from day one. The masks never ever worked! In fact, mask mandates drove infections:

8. The virus is known to be naturally occurring, and claiming it originated in a lab is a conspiracy theory. Pure lie, all evidence points to a deliberately manufactured pathogen.

9. Teachers are at especially high risk. Pure lie, all evidence we had showed the school was the safest place for teachers and children did not spread to teachers. The data was bullet proof near day one that children were at statistical zero risk of severe outcome or death from COVID. Median age for teachers in US was about 41 years.

10. COVID vaccines stop the spread of the infection. Pure lie, we had data soon after roll-out of the Malone, Kariko, Weissman mRNA technology based injection that the vaccine failed, was ineffective, was in negative efficacy and effectiveness territory, and was sub-optimal, was non-sterilizing non-neutralizing of the target antigen, and as such was placing selective pressure on the pathogen and driving emergence of infectious sub-variants. Today there is natural selection pressure that could drive emergence of a more virulent variant that could threaten humanity if these deadly shots are not stopped. See my work in Jeff Tucker’s Brownstone showing the failure of the vaccine very soon after roll out, especially showing that there was no difference between the vaccinated and unvaccinated as to viral load and thus infectiousness (transmission potential) and so there was no basis ever for any vaccine mandate;

you can never ever get ahead of a mutable (mutating) respiratory influenza like virus, a coronavirus that is consistently changing. We greatly underestimated the evolutionary capacity of the virus to respond to the NPI pressure and the population immunity pressure (vaccine induced) and evole and adapt. It did and has and will. It will always be ahead. The spell checking system for the copying genetic material in the virus (as it replicates) is unstable and sub-optimal and thus mutations will always emerge. They know this. It was all a lie to bring something that they knew would fail out of the box.

It was basic 101 immunology and virology and vaccinology that if you roll-out a vaccine in the teeth (midst) of a pandemic where there is elevated infectious pressure due to circulating virus, while the population is mounting an immune response (building ‘full affinity, maximal binding affinity vaccine induced antibodies (Ab)), then this sub-optimal situation (as the Ab would not have the time to fully mature and develop and reach ‘full affinity’) causes selective pressure (Darwinian) on the target antigen (infectiousness of the virus e.g. the spike protein and its epitope binding regions e.g. receptor binding domain (RBD) and N-terminal domain and other binding regions). The vaccinal induced Abs could bind to the virus to try to neutralize yet they are non-neutralizing and thus do not sterilize the virus (stop infection, replication, transmission). This results in Darwinian selection ‘pressure’ being placed on the virus and thus the virus will select the most infectious variants that overcome the sub-optimal immune pressure.

These sub-variants e.g. OMICRON, XBB etc. would become enriched in the environment and go on to become the new DOMINANT sub-variants. This process will iterate non-stop if the sub-optimal non-neutralizing vaccine is not stopped. In other words, this fraud situation will never end. They took a non-pandemic, and have created a money-making fraud gene injection that is driving the variants. This will go on for 100 years and this may actually be a binary weapon that was unleashed on us. Now there are billions with the shot in them and potentially, if this were so, they could next release something that could then complete a binary weapon. Do not take it off the table.

Had we done nothing, NOTHING, save protect the vulnerable, no lockdowns, no vaccine, we would have lost far fewer people. We killed people due to the non-pharmaceutical interventions (NPIs) and the fraud gene injection (deadly), yet we lost most due to the medical management of our vulnerable people. For example:

Deadly COVID protocol:

1)fraud over-cycled PCR test that said granny was positive when likely not for lethal infectious COVID virus; she was then isolated and the hospitals could then start billing for big COVID money as they buried her in the COVID protocol

2)toxic drugs to paralyze her to be compliant

3)midazolam and diamorphine that was deadly

4)she was quickly becomming dehydrated and malnouriched that helped kill her

5)she was isolated that helped kill her

6)DNR (do not resuscitate) orders against parents and family wishes

7)decision to not treat with antibiotics which was the drug she needed for bacterial pneumonia

8)Remdesivir that was liver and kidney toxic (failed ebola drug) was given that helped kill her

9)intubation and put on ventilator that helped kill her

11. Immune protection only comes from a vaccine. Pure lie, no vaccine can ever supercede natural immunity.

Jamie Foxx still hospitalized & issues 1st statement amid hospitalization: What we know about his ‘medical complication’ (May 3rd, 2023): my take…it’s the vaccine, stupid, it’s the vaccine; it’s the

spike protein, stupid, it’s the spike protein!

DR. PAUL ALEXANDERMAY 4

DR PANDA

END

SLAY NEWS

The latest reports from Slay News

German Government Admits There’s No Evidence Face Masks Work The German government’s top health officials have admitted that no evidence exists to suggest that the use of face masks was effective during the pandemic.READ MORE

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Don Trump Jr Issues Ominous Warning: ‘Heard Fox News Executives Are Pissed at Me and to Expect Retaliation’Donald Trump Jr. said that his contacts at Fox News told him to “expect retaliation” over his support for the network’s former star anchor Tucker Carlson.READ MORE

Kayleigh McEnany’s New Book Soars to Number 1 Fox News star Kayleigh McEnany’s new book, “Serenity in the Storm: Living through Chaos by Leaning on Christ,” has soared to number one on Amazon’s list of political commentary and opinion books.READ MORE

Dee Snider Dropped from SF Pride Lineup for Supporting Paul Stanley’s Child Gender Transitions Comment Twisted Sister frontman Dee Snider has been dropped from the lineup of San Francisco’s official LGBTQ Pride festivities after he “expressed support for Kiss’s Paul Stanley’s transphobic statement.”READ MORE

Valuetainment CEO Sweetens Tucker Carlson’s $100 Million Offer: ‘No Handcuffs and Muzzles’Valuetainment CEO Patrick Bet-David has sweetened the $100 million offer he made ex-Fox News star Tucker Carlson to join his media company.READ MORE

Megyn Kelly Blasts ‘Fake’ Chrissy Teigen over ‘Minions’ at White House Event: ‘Everything Wrong with Elitism’Former Fox News host Megyn Kelly has blasted Chrissy Teigen after videos emerged of the far-left model attending a White House event with servants carrying her dress tails.READ MORE

AOC Calls Hero Marine a Murderer in New Low for Democrats Democrat Rep. Alexandria Ocasio-Cortez (D-NY) has called a hero marine a murderer in a new low for the congresswoman and her party.READ MORE

Leo Terrell Calls for Biden’s Impeachment over Texas Mass Murder: ‘This Administration Has Blood on Its Hands’Civil rights attorney Leo Terrell has called for Democrat President Joe Biden to face impeachment in response to the brutal mass murder in Texas.READ MORE

Anti-Trump LinkedIn Co-Founder Reid Hoffman Admits Visiting Epstein’s ‘Pedophile Island’Anti-Trump activist Reid Hoffman, the billionaire co-founder of LinkedIn, has admitted to visiting deceased sex trafficker Jeffrey Epstein’s notorious “Pedophile Island.”READ MORE

Federal Reserve Hikes Interest Rates to Highest Levels since 2008 Crash The U.S. Federal Reserve has just announced fresh hikes to take interest rates to the highest levels seen since the eve of the 2008 financial crash.READ MORE

Biden’s DOJ Pushes for Michael Flynn’s Wrongful Prosecution Lawsuit to Be Moved to D.C from Florida Democrat President Joe Biden’s Department of Justice (DOJ) is pushing for Michael Flynn’s legal battle to clear his name to be transferred to a Washington D.C. court.READ MORE

Megyn Kelly Lands Knockout Blow on Fox News: ‘Not Even Bud Light Lost This Much of Its Customer Base’Ex-Fox News star Megyn Kelly has issued a warning to Rupert Murdoch about the future of the network as the ratings continue to plummet.READ MORE

VACCINE IMPACT

MICHAEL EVERY

MICHAEL EVERY/RABOBANK//

“We Have Either Arrived At A Turning Point For Global Monetary Tightening OR We Are Entering A New Episode Of Uncertainty”

FRIDAY, MAY 05, 2023 – 11:00 AM

By Michael Every of Rabobank

Fine-tuning or fundamental?

So one central banker has just called a “possible pause” in the hiking cycle, whilst the other is absolutely not ready for a pause as there is still “more ground to cover”. That’s basically the bottom line of this week’s policy meetings at two of the world’s biggest and most powerful central banks. And it perfectly illustrates that we have either arrived at a turning point for the global monetary tightening cycle (or, at least, are very close to it), OR we are now entering a new episode of heightened uncertainty. In case of the first, the difference in views between those central banks can largely be explained away by things like ‘fine tuning’, with the ECB having started the tightening cycle later than the Fed, for example. Or with the fact that underlying inflation in the Eurozone proving a bit more persistent than in the US, where it turned the corner last year already, which therefore requires a bit more tightening.

However, if the difference in views is of a much more fundamental nature, we could be in for trouble. Such uncertainty is not yet being fully acknowledged by broader markets as such. Well, unless you have been an investor in US regional banks, which took another hammering yesterday, with the KBW US regional banks index down almost 7% on the day at one point (before paring some of its losses). One bank sunk 50%; another fell 38%. Did anyone say ‘contagion’? And, admittedly, implied volatility in long-term swaps is still elevated when measured in basis points and compared to the ‘lower for longer’ era that lies behind us. But otherwise, implied volatilities in equity and currency markets are telling a very different story: the overall assessment of the market seems to be that the banking turmoil in the US is largely idiosyncratic or manageable, or both. If it isn’t, a credit crunch and hence more than just a mild recession becomes a plausible scenario.

Over in Europe, the ECB’s De Guindos –commenting during the ECB’s press conference– repeated the view that European banks are well capitalized and have strong liquidity positions. He added that spill-over effects from the turmoil in the US had remained modest so far. If anything, he noted, the higher interest rate environment is positive for the bottom line. But there’s a fine line between not trying to stir things up unnecessarily and complacency. Even our ECB watcher expressed surprise yesterday when he noted the ECB are not actively thinking about a substitute for the TLTROs, which will see some €477bn of bank funding return to the ECB on 28 June.

Of course, as Lagarde noted in reference to its gradual wind down of its APP, the resulting decline in excess liquidity is a welcome feature that strengthens the passthrough of its policy rates. And she pointed out that “there is no surprise” as everyone could have seen this repayment coming and banks have had ample time to prepare. She pointed out that banks have used the option to repay these loans early has already halved the potential ‘cliff effect’ from an €1 trillion repayment to just the €477bn that is still outstanding currently.

But could it be case that this neat sum has not been repaid yet because there is actually a need for it? “It wouldn’t surprise me, if standing facilities that are available would become used again. That is perfectly normal. We have 3m LTRO, etc. […] and if anything was to happen, we can be inventive […]”, Lagarde responded to that hypothetical question. On paper and in theory that all looks like solid reasoning, but markets can sometimes be a little recalcitrant. In view of the renewed turbulence in US banking markets, it doesn’t take a lot of fantasy to imagine a situation where some European banks –some of whom probably really need that funding– become concerned about the optics of using the ECB’s former liquidity window. Similarly, investors might start to wonder who those banks actually are. So before you know it, the ECB has to deploy its inventiveness again. We wonder if this could have been avoided by something a bit more tangible than just hoping that things will pan out well?

The other potential fundamental difference in views between the Fed and ECB is an angle that has been explored in many a Global Daily recently: what if the ECB (no pause) is right and the Fed (possible pause) is wrong? This is the scenario where core inflation remains much more stubborn because of tight labor markets) and fresh disruptions to trade, investment or financing lead to new bouts of supply shocks, thus feeding new inflation shocks. It was, after all, Lagarde who acknowledged that fragmentation of the global economy and financial system is a serious risk now. This potential fragmentation can come in many forms, from a slowdown in foreign direct investment flows, a slowdown in trade to fragmentation in payments.

On that front, it was India that had to bite the dust yesterday, as Reuters reported that talks between Russia and India to settle bilateral trade in rupees, had failed. India has been a growing importer of Russian oil following the sanctions put up by the West. It was the Russian side, so it appears, that ultimately decided that, due to a significant trade surplus with India, it was not happy with a significant accumulation of the Indian currency. On the one hand this demonstrates that bilateral trade settlement in local currencies rather than widely accepted and fully fungible/convertible ‘reserve’ currencies is by no means a win-win for all parties involved. On the other, the article noted that “Russia … wants to be paid in Chinese yuan or other currencies”, so it could still turn into a ‘win’ for China as the search for alternatives to the dollar and circumventing payments via SWIFT is ongoing. The reverse correlation between the dollar and commodities prices since the pandemic has hit commodity importers relatively hard, particularly emerging or more vulnerable economies, as Adam Tooze points out here. One explanation for that reverse correlation is the US having turned to a net energy exporter. Since this situation is unlikely to change anytime soon, there is a ‘fundamental’ rationale for some to find alternatives to the dollar.

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 FRIDAY MORNING 7;30AM//OPENING AND CLOSINGS

EURO VS USA DOLLAR:1.1016 DOWN 0.0008

USA/ YEN 134.22 UP 0.056 NOW TARGETS INTEREST RATE AT .50% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2604 UP 0.0021

USA/CAN DOLLAR: 1.3486 DOWN .0038 (CDN DOLLAR UP 38 PTS)

Last night Shanghai COMPOSITE CLOSED DOWN 15.96 PTS OR .48%

Hang Seng CLOSED UP 100.58 PTS OR 0.50%

AUSTRALIA CLOSED UP .34% // EUROPEAN BOURSE: ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 100.58 PTS OR 0.50 %

/SHANGHAI CLOSED DOWN 15.96 PTS OR .48%

AUSTRALIA BOURSE CLOSED UP 0.34%

(Nikkei (Japan) CLOSED UP 34.77 PTS OR .12%

INDIA’S SENSEX IN THE RED

Gold very early morning trading: 2035.60

silver:$25.84

USA dollar index early FRIDAY morning: 101.14 DOWN 4 BASIS POINTS FROM THURSDAY’s close.

FRIDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing FRIDAY NUMBERS 11: 00 AM

Portuguese 10 year bond yield: 3.127% UP 9 in basis point(s) yield

JAPANESE BOND YIELD: +0.415 % UP01 AND 0//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.373 UP 9 in basis points yield

ITALIAN 10 YR BOND YIELD 4.196 UP 9 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.2895 UP 10 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR FRIDAY

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

Euro/USA 1.1016 DOWN 0.0007 or 7 basis points

USA/Japan: 134.92 UP .747 OR YEN DOWN 75 basis points/

Great Britain/USA 1.2634 UP .0052 OR 52 BASIS POINTS //

Canadian dollar UP .0099 OR 99 BASIS pts to 1.3424

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed ON SHORE (CLOSED UP.(69100)

THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. 6.9131

TURKISH LIRA: 19.50 EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.

the 10 yr Japanese bond yield at +0.415…VERY DANGEROUS

Your closing 10 yr US bond yield UP 11 in basis points from THURSDAY at 3.462% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 3.782 UP 6 IN BASIS POINTS

USA 2 YR BOND YIELD: 3.9409% UP 21 in basis points.

USA dollar index, 101.11 DOWN 7 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 FRIDAY: 12:00 PM

London: CLOSED UP 77.76 points or 1.01%

German Dax : CLOSED UP 222.68 PTS OR 1.42%

Paris CAC CLOSED UP 96.17 PTS OR 1.31%

Spain IBEX UP 100.00 PTS OR 1.11%

Italian MIB: CLOSED UP 658.97 PTS OR 2.47%

WTI Oil price 71.01 12: EST

Brent Oil: 75.08. 12:00 EST

USA /RUSSIAN /// AT: 77.32/ ROUBLE UP 1 AND 73//100 RUBLES/DOLLAR

GERMAN 10 YR BOND YIELD; +2.285 UP 10 BASIS PTS

UK 10 YR YIELD: 3.8170 UP 16 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.1021 DOWN 0.0012 OR 12 BASIS POINTS

British Pound: 1.2636 UP .0053 or 53 basis pts

BRITISH 10 YR GILT BOND YIELD: 3.8015% UP 2 BASIS PTS

USA dollar vs Japanese Yen: 134.82 UP 658 //YEN DOWN 66 BASIS PTS//

USA dollar vs Canadian dollar: 1.3384 DOWN .0139 CDN dollar, UP 139 basis pts)

West Texas intermediate oil: 71.49

Brent OIL: 75.38

USA 10 yr bond yield UP 9 BASIS pts to 3.439%

USA 30 yr bond yield UP 3 BASIS PTS to 3.756%

USA 2 YR BOND: UP 19 PTS AT 3.9160%

USA dollar index: 101.007 DOWN 18 BASIS POINTS ??

USA DOLLAR VS TURKISH LIRA: 19.51

USA DOLLAR VS RUSSIA//// ROUBLE: 77.30 UP 0 AND 67/100 roubles

DOW JONES INDUSTRIAL AVERAGE: UP 546.64 PTS OR 1.65%

NASDAQ 100 UP 276.65 PTS OR 2.13%

VOLATILITY INDEX: 17.05 DOWN 3.04 PTS (15.13)%

GLD: $187.46 DOWN 2.98 OR 1.56%

SLV/ $23.57 DOWN 0.37 OR 1.55%

end

USA AFFAIRS

1 a) USA TRADING TODAY IN GRAPH FORM

Despite Big Bounce, Banks & Crude End Week Down Hard; Gold At Record Highs

FRIDAY, MAY 05, 2023 – 04:00 PM

An odd week of data that ‘surprised’ in its convenience: Housing data – awesome? Labor data – awesome? Personal/Household data – sucks balls!

Source: Bloomberg

Talking of convenient – after a mass media narrative focus that the banking crisis is not real but is all due to short-sellers, today saw (guess what) a gigantic short-squeeze in several regional banks (PACW up almost 100% at one point)…

BUT… regional banks were still down hard on the week…

Source: Bloomberg

Oh, and who are you gonna blame for the collapse in bonds (and feel free to argue with the biggest flow desk on the street which saw longs liquidating… not shorts piling on)…

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1654311016233066503&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Feod-3&sessionId=96dbb1f96e213073b2f5f496e1fb5041bea45135&siteScreenName=zerohedge&theme=light&widgetsVersion=aaf4084522e3a%3A1674595607486&width=550px

Oh, and don’t forget the debt ceiling is looming ever closer…

Source: Bloomberg

The market’s expectations for The Fed tumbled dovishly this week as Powell hinted it’s over…

Source: Bloomberg

Markets are now pricing in rates being 75bps lower than current levels by year-end…

Source: Bloomberg

But it was Friday so we squeezed hard today, totally ignoring Bullard’s comments late on…

Bullard’s message was clear – this is not a pivot!

“The aggressive policy we pursued in the last 15 months has stemmed the rise in inflation, but it is not so clear we are on” a path to 2%, Bullard told reporters following an event in Minneapolis Friday.

He said he is willing to assess the economic data as it comes in, but would need to see “meaningful declines in inflation” to be convinced higher rates aren’t necessary.

However, despite the bounce, only Nasdaq made it back into the green for the week (but the last few minutes saw selling push it back red) while The Dow was the ugliest horse in the glue factory…

Big short squeeze today took ‘most shorted’ stocks back to unchanged on the week…

Source: Bloomberg

But notably, 0DTE was aggressively fading the early gains in stocks before reversing…

Source: SpotGamma

Most notably, the early action was all put buying and the late surge was not covering but call-buying…

Source: SpotGamma

Despite a big tumble today, equity risk higher (VIX) on the week for the first time in two months

Source: Bloomberg

Credit risk was higher on the risk…

Source: Bloomberg

Bonds were mixed on the week with the short-end bid, long-end offered…

Source: Bloomberg

Yield curve steepened significantly on the week…

Source: Bloomberg

Dollar down notably again (7th of last 9 weeks)

Source: Bloomberg

Bitcoin was flat on the week while Ethereum notably outperformed (topping $1950)…

Source: Bloomberg

Gold & Silver were up on the week with the latter outperforming (amid a lot of chop)…

Oil & NatGas were down hard on the week, despite the bounce today.

Oil’s midweek flashcrash seemed to flush some hands out…

NatGas was just a sell every rip market all week…

Gold ended just shy of a record weekly closing record high…

Source: Bloomberg

Finally, bear in mind that the market is still massively more dovish than The Fed’s expectations… (market sees a 38% chance of a cut in July)

Source: Bloomberg

Chicken or egg – for The Fed to fold, the market will have to crash but the market won’t crash because everyone knows The Fed will fold and juice stocks back to un-reality… tick-tock!!

b) early morning trading: jobs report

a total joke!

April Payrolls Smash Expectations After Huge Downward Revisions; Unemployment For Blacks Hits Record Low

FRIDAY, MAY 05, 2023 – 08:49 AM

Ahead of today’s jobs report, which we previewed earlier and where median consensus expects a drop in payrolls to 185K (which would be the lowest since 2021) with unemployment rising to 3.6%, many joked that at this point the job report is so rigged and “adjusted” that Biden’s Dept of Labor may as well just keep going with fabricated numbers until the 2024 election. After all, one look at the chart below which shows the number of consecutive beats confirms what a farce the “data” has become: everything in the name of a beat and a favorable press conference soundbite.

Well, the cynics were right once again because moments ago the BLS reported a record 12th consecutive month of payrolls beating expectations…

… as April payrolls reportedly rose by 253K, a big jump from the the March number…

… and what is a 3-sigma beat of expectations of 185K.

And speaking of previous prints, the March number was unexpectedly revised sharply lower, from a consensus-beating 236K (exp. was 230K) to a huge miss at 165K, a number which surely would have impacted the Fed’s thinking and potentially put a premature end to the rate hikes. But wait there’s more, because February was also revised lower by 78K, from +326,000 to +248,000, which would also have missed the whisper estimate. With these revisions, employment in February and March combined is 149,000 lower than previously reported.

And just like that, we get confirmation that every BLS number is only gamed to beat the current month consensus estimate so that Biden’s admin can take props for handling the labor market “:better than expected.”

Turning to the unemployment rate, which we expect will also be revised dramatically higher just after the 2024 presidential election, it unexpectedly dropped from 3.5% to 3.4%, (an in fact 3.39% unrounded) stronger than consensus expectations for an increase to 3.6%. Among the major worker groups, here are the the unemployment rates for adult men (3.3%), adult women (3.1%), teenagers (9.2%), Whites (3.1%), Blacks (4.7%), Asians (2.8%), and Hispanics (4.4%). Of note, the unemployment rate for blacks dropped to a record low.

There were no surprises for the participation rate which at 62.6%, came right on top of expectations.

There was more: with most third party metrics showing a continued drop in wages, the BLS once again decided to portray the data in the best possible light for Biden, with average hourly earnings rising to 4.4% from 4.2%, (revised to 4.3%) and above the estimate of 4.2%.

Developing

II) USA DATA//

III) USA ECONOMIC STORIES

How stupid can one be? Mass migration entering El Paso Texas

(zerohedge)

New Footage Shows El Paso Engulfed In ‘Mass Migration Dumpster Fire’ As State Of Emergency Declared

THURSDAY, MAY 04, 2023 – 03:35 PM

On Monday, White House spokeswoman Karine Jean-Pierre made an absurd claim: “When it comes to illegal migration, you’ve seen it come down by more than 90%” under the Biden administration. And if that was the case, why did a Democrat mayor of a Texas border town declare a state of emergency?

Well, new footage from border town El Paso, Texas, shows a sobering view of a worsening migrant crisis that the Biden administration, liberal media, and progressive politicians have ignored for two years while calling anyone who pointed it out ‘racist.’

Illegal immigrants scramble for supplies in El Paso, Texas following the declaration of a state of emergency over the ending of Title 42.

pic.twitter.com/3ariGxU45b— Ian Miles Cheong (@stillgray) May 4, 2023

Illegal aliens waiting to cross into El Paso due to expiration of Title 42

pic.twitter.com/Dgcj7eVOhA— The Post Millennial (@TPostMillennial) May 4, 2023

Anybody who is pro-open borders has never been to border towns like El Paso which are plagued with mass migration dumpster fires like this pic.twitter.com/nmsE2u02L9— Ashley St. Clair (@stclairashley) May 3, 2023

Biden’s Border Invasion, Today 5/3/2023 #bidensborder #ElPaso #invasion #texas pic.twitter.com/lGu6eXdIAZ— Oreo Express Normal/Not Mentally Ill (@OreoExpress) May 3, 2023

“It’s difficult to describe, Jim, with words… The magnitude of the number of individuals,” a CNN reporter said. If CNN can no longer cover for the Biden administration, then they’re in trouble…

The situation in El Paso is so bad that even CNN is flabbergasted.

“It’s difficult to describe, Jim, with words… The magnitude of the number of individuals.”pic.twitter.com/ugarf7HwHr— Citizen Free Press (@CitizenFreePres) May 3, 2023

Even MSBC has been forced to cover the migrant crisis.

The liberal media is finally covering the number of migrants in El Paso. Our southern border is being destroyed and they have denied for 2 years. Appalling. pic.twitter.com/2vAI0x30no— SweetPeaBelle (@SweetPeaBell326) May 3, 2023

El Paso is transforming into what appears to be a ‘third world’-like country, primarily due to the surge in illegal border crossings.

#ElPaso #Texas right now… officer JPedroza needs to clear these sidewalks for US citizens so he can stop issuing tickets to pedestrians going around this mess. pic.twitter.com/2FEbxnIb7p— real Anthony Aguero (@AgueroForTexas) May 3, 2023

With the upcoming expiration of Title 42, a pandemic-era border policy that allows border agents to turn migrants away on public health grounds, this will only indicate a new wave of illegal border crossings is imminent.

“El Paso mayor has declared a state of emergency. Biden is sending 1500 troops. The border has been lost,” Citizen Free Press tweeted.

Indeed.

end

You can tell that there is stress with the regional banks when you see the huge increase in movement into money market funds

(Bloomberg)

It’s Not All Speculators As Real Stress Lingers In US Banks

FRIDAY, MAY 05, 2023 – 09:40 AM

Authored by Simon White, Bloomberg macro strategist,

Even though short sellers are targeting the stocks of weaker US regional banks, the fed funds market shows that there remains fundamental underlying weakness among some lenders.

Banks use the fed funds market to borrow and lend bank reserves to help with their settlement balances. Larger banks, such as JPMorgan, have more reserves than they want (hence their reluctance to raise deposit rates), but many smaller banks often do not, and must borrow in the fed funds market to obtain them.

We know some stress in the banking sector remains as there are still banks who are paying above the top of Fed’s range for fed funds, i.e. 5.25%, to borrow reserves. Discount window (DW) usage has fallen, but this has simply been transferred to the new BTFP facility, which has better terms than the DW. It is thus evident some smaller lenders continue to face fundamental problems.

Nonetheless, recent consolidation in the sector through rescues and mergers should have steadied the boat for the sector as a whole. The fact that it has not is because short sellers are trying to pick off what they see as the weakest links among smaller banks. Even lenders whose deposit outflows have stabilized, such as PacWest and Western Alliance, have found their stocks under attack.

Illiquid and underperforming commercial real estate (CRE) loans and large, underwater hold-to-maturity (HTM) portfolios are two of the most obvious risks for smaller banks in the US. That seems to be a pretty good rule of thumb for gauging how a bank’s stock has performed, and probably one for speculators in choosing who to go after.

The chart below shows a clear relationship between banks’ total of CRE loans and HTM portfolios as a percentage of total assets versus drawdown in their share price from 52-week high. A similar chart showing net income with 52-week share drawdown does not show any relationship.

Banks with greater exposure to CRE + HTM have fared worse, and vice-versa. PB is the most obvious outlier in the above chart, with the bank recently merging with First Bancshares of Texas, explaining why its share price is not lower than the relationship would anticipate.

Paradoxically, a weaker economy might help banks’ plight. Worse than expected jobs data today, for instance, might be enough to precipitate a short squeeze, taking many speculators out. Stranger things have happened.

Always a good read..

Brandon Smith..

Establishment Economists Are Finally Realizing It’s Time To Pay The Piper

FRIDAY, MAY 05, 2023 – 07:20 AM

Authored by Brandon Smith via Alt-Market.us

The one thing about the financial world that never ceases to amaze me is how far behind the curve mainstream economists always seem to be. Not long ago we had both Janet Yellen and Paul Krugman, economists supposedly at the front of the pack, both proving to be utterly ignorant (or strategically dishonest) on the effects of central bank stimulus measures and the threat of inflation. In fact, they both consistently denied such a threat existed until they were crushed by the evidence.

This tends to be the modus operandi of top establishment analysts, and the majority of economists out there simply follow the lead of these gatekeepers – Maybe because they’re vying for a limited number of cushy positions in the field, or perhaps because they’re afraid that if they present a contradictory theory they’ll be ostracized. Economics is often absurdist in nature because Ivy League “experts” can be wrong time and time again and yet still keep their jobs and rise up through the ranks. It’s a bit like Hollywood in that way; they fail upwards.

In the meantime, alternative economists keep hitting the target with our observations and predictions, but we’ll never get job offers from establishment publications because they’re not looking for people who are right, they’re looking for people that toe the line.

And so it goes. I look forward to the fast approaching day when all of these guys (and girls) proclaim frantically that “no one saw this crisis coming.” After things get even worse, they’ll all come out and say they actually “saw the crisis coming and tried to warn us.”

The hope is not so much to get credit where credit is due (because that’s not going to happen), but to wake up as many people who will listen as possible to the dangers ahead, and maybe save a few lives or inspire a few rebels in the process. In the case of establishment yes-men, the hope is that they eventually get that left hook to the face from reality and lose credibility in the eyes of the public. They deserve to go down with the ship – Either they are disinformation agents or they’re too ignorant to see the writing on the wall and should not have the jobs they have.

The latest US bank failures seem to be ringing their bell the past couple of months, that’s for sure. In a survey managed by the World Economic Forum, over 80% of chief economists now say that central banks “face a trade-off between managing inflation and maintaining financial sector stability.” They now warn that price pressures look likely to remain higher for longer and they predict a prolonged period of higher interest rates that will expose further frailties in the banking sector, potentially compromising the capacity of central banks to rein in inflation. This is a HUGE reversal from their original message of a magical soft landing.

Imagine that. The very thing alternative economists including myself have been “ranting” about for years, the very thing they used to say was “conspiracy theory” or Chicken Little doom mongering, is now accepted as fact by a majority of surveyed economists.

But where does this leave us? After acceptance usually comes panic.

The credit crunch is just beginning and the absorbing of the insolvent First Republic Bank into JP Morgan is a median step to a larger crash. The expectation is that the Federal Reserve will step in to dump more stimulus into the system to keep it afloat, but it’s too late. My position has always been that the central banks would deliberately initiate a liquidity crisis through steady interest rate hikes. This has now happened.

The Catch-22 scenario has been accomplished. Just like the lead up to the 2008 credit crisis, all the Fed needed to do was raise rates to around 5% to 6% and suddenly all systemic debt becomes untenable. Now it’s happening again and they KNEW it would happen again. Except this time, we have an extra $20 trillion in national debt, a banking network completely addicted to cheap fiat stimulus and an exponential stagflation problem.

If the Fed cuts rates prices will skyrocket even more. If they keep rates at current levels or raise them, more banks will implode. Most mainstream analysts will expect the Fed to go back to near-zero rates and QE in response, but even if they do (and I’m doubtful that they will) the outcome will not be what the “experts” expect. Some are realizing that QE is an impractical expectation and that inflation will annihilate the system just as fast as a credit crisis, but they are few and far between.

The World Economic Forum report for May outlines this dynamic to a point, but what it doesn’t mention is that there are extensive benefits attached to the coming crisis for the elites. For example, major banks like JP Morgan will be able to snatch up smaller failing banks for pennies on the dollar, just like they did during the Great Depression. And, globalist institutions like the WEF will get their “Great Reset,” which they hope will frighten the public into adopting even more financial centralization, social controls, digital currencies and a cashless society.

For the average concerned citizen out there, this narrative change matters because it’s a signal that things are about to get much worse. When the establishment itself is openly acknowledging that gravity exists and that we are falling instead of flying, it’s time to get ready and take cover. They never admit the truth unless the worst case scenario is right around the corner.

USA COVID//

END

SWAMP STORIES

THE KING REPORT

The King Report May 5, 2023 Issue 5784

Independent View of the News

As expected, the ECB hikes its benchmark rate by 25bps.

ECB President Lagarde’s statement: The inflation outlook continues to be too high for too long. In light of the ongoing high inflation pressures, the Governing Council today decided to raise the three key ECB interest rates by 25 basis points… Our future decisions will ensure that the policy rates will be brought to levels sufficiently restrictive to achieve a timely return of inflation to our two per cent medium-term target and will be kept at those levels for as long as necessary. We will continue to follow a data-dependent approach to determining the appropriate level and duration of restriction… https://t.co/KEBoN7eXwi

TD pulls $13.4 billion First Horizon purchase, leaves US bank in limbo
Canada’s Toronto-Dominion Bank Group on Thursday called off its $13.4 billion takeover of First Horizon Corp, triggering a near 40% fall in the U.S. regional bank’s shares… http://reut.rs/3LTc1pe

US Bancorp sank over 7% during the first hour of NYSE trading yesterday. USB hit its lowest price since 2012. The US banking crisis is now impacting the 5^th largest US bank!

PacWest sank to a low of 2.48 at 10:45 ET. WAL hit -61.62% at the time. WAL said reports of deal talks are “absolutely false.” WAL jumped to -36% on the official denial of talks.

Holdco Asset Management April 17, 2023: When analyzing all publicly traded banks above $1Bn that report CET1 ratios(a), USB’s capital ratios look abysmal when compared to the Broader Industry (393 Banks) (a) • If USB was treated as a Category II Bank today, it would rank dead last among all 393 publicly traded banks with assets greater than $1 billion…
http://www.holdcoam.com/wp-content/uploads/Presentation.pdf

ESMs gapped significantly lower when Nikkei trading opened. They quickly commenced a rally that turned ESMs positive by 23:00 ET. ESMs then traded sideways until they broke lower when Europe opened. A low appeared at 3:27 ET. After a 17-handle spike higher, ESMs rolled over. The ensuing decline persisted until the pre-NYSE open rally commenced near 8:20 ET.

Alas, the rally ended within 20 minutes. ESMs and stocks sank until 10:30 ET. Traders then played for the 2^nd Hour Reversal. The ensuing 26-handle ESM rally ended at 11:09 ET. ESMs and stocks headed south for the 11:30 ET European close. After making the daily low of 4062.25 at 12:08 ET, ESMs rallied on a Noon Balloon. A 35-handle ESM rally ended at 13:22 ET. ESMs retreated 26 handles by 14:52 ET.
It was time for the final-hour manipulation. Two late rallies quickly aborted; ESMs fell into the close.

Q1 Nonfarm Productivity fell 2.7%; -2.0% was consensus.  Unit Labor Costs jumped 6.3%; 5.6% was expected. Higher unit labor costs, despite Powell’s assertion to the contrary, are an inflation concern.

Biden Picks Fed’s Jefferson for Vice Chair, Kugler for Governor (2^nd black Fed VCEO)
    Selections could be announced as soon as Friday, people say
    Kugler would be central bank’s first Latina policymaker (Due to pressure by Dem NJ Sen. Menendez)
https://www.bloomberg.com/news/articles/2023-05-03/biden-picks-fed-s-jefferson-for-vice-chair-kugler-for-governor

Positive aspects of previous session
US stocks should have declined more sharply given the US banking system angst

Negative aspects of previous session
Stocks sank again; but bonds rallied only modestly
Gold rallied sharply again
Bloomberg’s Trender is back on a daily sell signal for the S&P 500 Index

Ambiguous aspects of previous session
How bad will the US regional banking crisis be?

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

Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 4064.09
Previous session High/Low: 4082.61; 4048.28

Royal Navy scrambles warship as Russia sends nuke armada to stalk UK coast to ‘disrupt coronation weekend’  https://www.thesun.co.uk/news/22244313/russian-warship-force-britain-nuclear-capable-missiles/

@RNCResearch: “…a growing number of countries seem to be moving away from the use of the dollar. Is there…a concern?” Biden spokesman John Kirby: “I don’t have a good answer for you.”
https://twitter.com/RNCResearch/status/1654179967184388099

@SteveGuest: Sen. Ted Cruz on Biden’s refusal to negotiate on the debt ceiling:  Joe Biden’s “mental faculties are too diminished right now to … actually work together on a solution to the problems. And what we’re left with is a bunch of young staffers in the White House—radical children— who are perfectly willing to risk a default on the debt!”  https://twitter.com/SteveGuest/status/1654139811190525953

Bud Light Maker Offers Distributors Free Beer, More Ad Spending After Dylan Mulvaney Backlash – Anheuser-Busch wholesalers say they have faced plummeting sales and personal threats over backlash from a promotion with a transgender influencer
https://www.wsj.com/articles/bud-light-maker-offers-distributors-free-beer-more-ad-spending-after-dylan-mulvaney-backlash-14efac22

CEO distances Anheuser-Busch from Bud Light Dylan Mulvaney controversy: ‘Not a formal campaign’ – CEO Michel Doukeris says Bud Light only partnered with Dylan Mulvaney for ‘one post’ and that it was not an advertising campaign   https://www.foxbusiness.com/markets/ceo-distances-anheuser-busch-bud-light-dylan-mulvaney-controversy-not-formal-campaign

Fed Balance Sheet: -$58.774B; Loans -$16.293B; Notes & Bonds -$43.542B
https://www.federalreserve.gov/releases/h41/20230504/

After the close, Apple reported EPS of 1.52, 1.43 expected, and revenue of $94.84B, $92.6B consensus. Apple authorized an increase of its share repurchase program of up to $90B. APPL rallied 3%.

Today – The April Employment Report is likely to have a transitory effect at best because there are bigger problems percolating. As always, check the Household Survey to see if it conforms to NFP and check the NFP seasonal adjustment.

Traders will play for the usual Friday rally, which normally intensifies in the afternoon. However, with concern about US banks escalating, professional traders might not want to be long into the weekend. Apple could be a big factor today. Can APPL hold its after-hour rally when institutions play today?

ESMs are +14.50 at 21:10 ET on Apple’s solid results and after-hour rally.

Expected economic data: April Nonfarm Payrolls 183k (Whisper # 175k), Mfg -5k, Rate 3.6%, wages 0.3%, Workweek 34.4, Labor Force Participation Rate 62.6%; March Consumer Credit $16.75B; St. Louis Fed Pres Bullard and Fed Gov Cook 13:00 ET

Expected earnings: CI 5.23, NWSA .04, JCI .74; on Saturday BRK/A 5432.14

S&P 500 Index 50-day MA: 4039; 100-day MA: 4009; 150-day MA: 3951; 200-day MA: 3970
DJIA 50-day MA: 33,076; 100-day MA: 33,341; 150-day MA: 32,930; 200-day MA: 32,708

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 3913.65 triggers a sell signal
Daily: Trender and MACD are negative – a close above 4184.25 triggers a buy signal
Hourly: Trender and MACD are negative – a close above 4109.33 triggers a buy signal

John Solomon reports that Ukraine is the country involved in Biden’s alleged bribery scheme.
https://twitter.com/bennyjohnson/status/1654176266348527644

Biden lightens his White House schedule, lets Harris take lead in AI meeting
President Biden assigned himself a light schedule this week with no public events from Tuesday through Thursday…  https://www.foxnews.com/politics/biden-lightens-white-house-schedule-harris-take-lead-ai-meeting

Democrats try to shift blame for classified documents away from Biden and say GOP claims are racist – Republicans have expressed concerns for months that Democrats would try to shift blame for the classified documents scandal away from Biden to Chung (Biden aide).
https://justthenews.com/government/congress/democrats-try-shift-classified-documents-blame-away-biden-say-gop-claims-are

Ex-CIA boss told colleague (ex-CIA chief Brennan) Hunter Biden laptop letter a ‘talking point’ to help Biden at debate – Michael Morell’s candid admission that letter from 51 experts would be used to “to push back on Trump” exposes political nature of effort… https://t.co/CCNK7WGlGK

@JerryDunleavy: Hunter Biden laptop letter author Mike Morell sent a recruitment email to ex-intel officials urging them to sign, saying Trump would attack Biden over the laptop in the upcoming debate so he wanted to give Biden “a talking point to use in response.”   https://t.co/HidiO1x37K

@FLVoiceNews: Fla. Democrat Sen. @TinaPolsky says parents aren’t “qualified” to decide what books are appropriate for their children. https://twitter.com/FLVoiceNews/status/1653781077301895168

@MariaPeiro305: When I lived under communism in Cuba, this is what we experienced. The state took rights away from parents to turn their children against them. That way it was easier to indoctrinate the children. These Democrats want to do the same.

Billionaire Dem mega-donor bankrolling Trump accuser’s rape lawsuit visited Epstein’s private island https://t.co/KN26uMDY0E

Top Democrat’s transgender daughter sentenced to probation for assaulting police officer
Riley Dowell faced numerous charges stemming from a violent January protest in Boston
https://www.foxnews.com/politics/top-democrats-transgender-daughter-sentenced-probation-assaulting-police-officer

Yet grannies get jail time for trespassing and parading in the Capitol!

(GOP) Rep. Andy Biggs says leadership at FBI and DOJ is ‘hopelessly corrupted politically’ https://t.co/wKMqkxjv7N

@greg_price11: Sonia Sotomayor received over $3 million for her books from Penguin Random House publishing and then didn’t recuse herself from a case in which they were involved before SCOTUS where the company stood to lose money. What did Clarence Thomas do again?
https://www.dailywire.com/news/liberal-scotus-justice-took-3m-from-book-publisher-didnt-recuse-from-its-cases

Justice Thomas responds to report donor funded relative’s education, says money went to school
Because Martin’s (Thomas nephew) tuition payments were made directly to the school on his behalf, Thomas did not need to report the gift, his attorney said.
https://justthenews.com/government/courts-law/justice-thomas-responds-after-allegations-billionaire-donor-funded-great

Kennedy stumps Biden official on $50 trillion cost to fight climate change: ‘You don’t know, do you?’ – “If we spend $50 trillion to become carbon-neutral by 2050 in the United States of America, how much is that going to reduce world temperatures?” Kennedy asked Deputy Energy Secretary David Turk during a Senate Appropriations Subcommittee hearing. Turk appeared unable to provide a specific number… https://t.co/vNLIDMqdUS

Mother reveals why suspected Atlanta mass shooter was upset before gunfire
The mother of the man accused of shooting five people in midtown Atlanta said he was angry that doctors wouldn’t give him Ativan, an anti-anxiety drug…
https://news.yahoo.com/mother-reveals-why-suspected-atlanta-023016575.html

The embattled George Soros-backed district attorney Kim Gardner will step down after bipartisan calls for her resignation and years of criticism. https://t.co/n7myZX5HOs

Massachusetts (Smith) college program ends the use of the word ‘field’: ‘May hold negative associations’ (Not a parody!) https://t.co/n0HkIVG5R6

GREG HUNTER

Banking Bummer Not Over, Crash Coming?, CV19 Vax Deaths Ignored

Banking Bummer Not Over, Crash Coming?, CV19 Vax Deaths Ignored

By Greg Hunter On May 5, 2023 In Weekly News Wrap-Ups2 Comments

By Greg Hunter’s USAWatchdog.com (WNW 580 5.5.23)

The banking bummer Jamie Dimon said was over is far from over. More banks are going down and more banks are finding themselves in deep financial trouble. The banking collapse of 2023 is already far greater that the banking collapse that touched off the so-called “Great Recession” in 2008. Did I say it was far from over? In a new Gallup poll, almost half of all Americans are “worried” about their deposits in the bank. That’s reassuring!!

To make matters worse, Treasury Secretary Janet Yellen is warning that if the debt ceiling is not raised by congressional legislation by June 1st, the USA could default on it’s debt. Yikes!! That has never happened before. This sounds almost unreal and yet it is from the mouth of our Treasury Secretary. The sailing is not going to be smooth even though the a bill raising the debt ceiling has already passed the House. In the Senate, at least two Democrats are going to side with the Republicans to whittle down the price tag. This should be interesting and dangerous at the same time.

People in large numbers are becoming disabled and dying from the CV19 Bioweapon Vax and yet folks in power ignore it and act as if nothing is wrong. Money manager and number cruncher Ed Dowd said on USAW, that 30% of the workforce is either dead, disabled, or chronically ill from the injections – so far. The trend is not turning down and this has huge implications for the economy and the readiness of our military. Keep in mind the demonic powers running our country have war in Ukraine and probably one coming in China too in the not-too-distant future.

There is much more in the 50-minute newscast.

Join Greg Hunter of USAWatchdog.com as he talks about these stories and more in the weekly News Wrap-Up for 5.5.23.

(https://usawatchdog.com/banking-bummer-not-over-crash-coming-cv19-vax-deaths-ignored/)

(Video will play when it is finished processing on Rumble

Well that about does it for today

I will see you on Monday