SHANGHAI GOLD (USD) FUTURES – QUOTE

Beginning Monday, April 1, 2024, CME Group settlement data will no longer be accessible through ftp.cmegroup.com and will have a delayed publication time of 12:00 a.m. CT on all cmegroup.com web pages. Learn about alternate ways to access the data in our FAQ.

Last Updated 25 Jan 2024 06:27:17 AM CT.

Market data is delayed by at least 10 minutes.

Shanghai gold over Comex gold: 49 dollars

MONTH	LAST	CHANGE	PRIOR SETTLE	OPEN	HIGH	LOW	VOLUME	UPDATED
JAN 2024 SGUF4	–	–	2062.5	–	–	–	0	21:30:01 CT 24 Jan 2024
FEB 2024 SGUG4	2066.6	-6.4 (-0.31%)	2073.0	2067.6	2069.2	2066.6	204	01:00:29 CT 25 Jan 2024
MAR 2024 SGUH4	–	–	2083.5	–	–	–	0	21:30:01 CT 24 Jan 2024
APR 2024 SGUJ4	2078.9	-4.5 (-0.22%)	2083.4	2080.6	2080.6	2078.8	133	01:00:29 CT 25 Jan 2024
JUN 2024 SGUM4	–	–	2084.0	–	–	–	0	21:30:01 CT 24 Jan 2024
AUG 2024 SGUQ4	–	–	2084.6	–	–	–	0	21:30:01 CT 24 Jan 2024
OCT 2024 SGUV4	–	–	2085.2	–	–	–	0	21:30:01 CT 24 Jan 2024
DEC 2024 SGUZ4	–	–	2085.8	–	–	–	0	21:30:01 CT 24 Jan 2024

About this Report

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: $2,721.21 DOWN 0.61 CDN dollars per oz( * NEW ALL TIME HIGH 2,795.90 CDN DOLLARS PER OZ//DEC 1 272023)

*BRITISH GOLD: 1589,56 UP 7,00 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17 BRITISH POUNDS/OZ) OCT 2/2023

*EURO GOLD: 1862,92 UP 13.52 euros per oz //* (ALL TIME CLOSING HIGH: 1903.75 EUROS PER OZ//DEC 1.2023)

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EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: JANUARY 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,013.900000000 USD
INTENT DATE: 01/24/2024 DELIVERY DATE: 01/26/2024
FIRM ORG FIRM NAME ISSUED STOPPED

092 C DEUTSCHE BANK 4
190 H BMO CAPITAL 177
363 H WELLS FARGO SEC 29
435 H SCOTIA CAPITAL 2
624 H BOFA SECURITIES 1
657 C MORGAN STANLEY 7
661 C JP MORGAN 2
686 C STONEX FINANCIA 1
737 C ADVANTAGE 1 12
880 H CITIGROUP 229
905 C ADM 5

TOTAL: 235 235
MONTH TO DATE: 6,222

JPMorgan stopped 2/235 contracts.

FOR JAN.:

GOLD: NUMBER OF NOTICES FILED FOR JAN/2024. CONTRACT: 235 NOTICES FOR 23,500 OZ or 0.7309 TONNES

total notices so far: 6222 contracts for 622,200 oz (19.353 tonnes)

FOR JANUARY:

SILVER NOTICES 227 NOTICE(S) FILED FOR 1,135,000 OZ/

total number of notices filed so far this month : 1109 for 5,545,000 oz

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END

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES

GLD

WITH GOLD UP $2.50

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

INVENTORY RESTS AT 858.93 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER UP $.03 CENTS AT THE SLV//

MEGA CHANGES IN SILVER INVENTORY AT THE SLV AGAIN: A WITHDRAWAL OF 1.831 MILLION OZ OF SILVER FROM THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 448.236 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A HUGE SIZED 1391 CONTRACTS TO 137,226 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR GAIN OF $0.44 IN SILVER PRICING AT THE COMEX ON WEDNESDAY. WE HAD A ZERO LONG LIQUIDATION AT THE COMEX SESSION BUT A MASSIVE SHORT COVERING. WE HAD A HUGE 1297 T.A.S ISSUANCE AND THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY.

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON WEDNESDAY NIGHT: 1297 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.

WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.44), AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A FAIR SIZED LOSS OF 671 CONTRACTS GAIN ON OUR TWO EXCHANGES ACCOMPANYING MASSIVE SHORT COVERING

WE MUST HAVE HAD:

A VERY STRONG SIZED 720 ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 6.650 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 5,000 OZ QUEUE. JUMP NEW TOTALS 6.605 MILLION OZ//

//NEW STANDING FOR SILVER IS THUS 6.605 MILLION OZ

//HUGE SIZED COMEX OI LOSS/VERY STRONG SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1297 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED 322 CONTRACTS //

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

TOTAL CONTRACTS for 17 days, total 13,387 contracts: OR 66.935 MILLION OZ (787 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 66.935 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 2022: 207.140 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 66.120 MILLION OZ/INITIAL (MUCH SMALLER THIS MONTH)

JUNE: 110.395 MILLION OZ//MUCH LARGER THAN LAST MONTH

JULY 85.745 MILLION OZ (SMALLER THAN LAST MONTH)

AUGUST: 171.43 MILLION OZ (THIS MONTH IS GOING TO BE HUGE //2ND HIGHEST ON RECORD

SEPT: 72.705 MILLION OZ (SMALLER THIS MONTH)

OCT: 97.455 MILLION OZ

NOV. 50.050 MILLION OZ

DEC. 66.140 MILLION OZ//

TOTAL 2023: 1,104.10 MILLION OZ/

JAN ’24 : 66.935 MILLION OZ//WILL BE A VERY STRONG MONTH FOR ISSUANCE

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1391 CONTRACTS DESPITE OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//WEDNESDAY.,. THE CME NOTIFIED US THAT WE HAD A VERY STRONG EFP ISSUANCE CONTRACTS: 720 ISSUED FOR FEB AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS. WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR JAN. OF 6.665 MILLION OZ FOLLOWED BY TODAY’S 5,000 OZ QUEUE JUMP //NEW TOTAL 5.600 MILLION OZ TO WHICH WE ADD EX. FOR RISK ISSUANCE/PRIOR FOR 1.0 MILLION OZ //NEW TOTALS; 6.605 MILLION OZ/

NEW STANDING 6.605 million OZ /// WE HAVE A FAIR LOSS OF 671 OI CONTRACTS ON THE TWO EXCHANGES WITH THE GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 1297 CONTRACTS//SOME FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE WEDNESDAY COMEX SESSION/RAID// WITH HUGE SHORT COVERINGS FROM OUR SPEC SHORTS BUT AT HIGHER PRICES.. THE NEW TAS ISSUANCE WEDENESDAY NIGHT (1297) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .

WE HAD 227 NOTICE(S) FILED TODAY FOR 1,135,000 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 FAIR SIZED 1333 CONTRACTS TO 467,205 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: – added 1 CONTRACTS

WE HAD A FAIR SIZED INCREASE IN COMEX OI ( 1333 CONTRACTS) DESPITE OUR $9.75 LOSS IN PRICE//WEDNESDAY. WE ALSO HAD A RATHER LARGE INITIAL STANDING IN GOLD TONNAGE FOR JAN. AT 8.214 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S HUGE 22,100 OZ QUEUE JUMP//NEW STANDING: 19.387 TONNES // ALL OF THIS HAPPENED WITH OUR $9.75 LOSS IN PRICE WITH RESPECT TO WEDNESDAY’S TRADING. WE HAD A STRONG SIZED GAIN OF 6693 OI CONTRACTS (20.81) PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUGE SIZED 5360 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 467,205

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 6693 CONTRACTS WITH 1,333 CONTRACTS INCREASED AT THE COMEX// AND A HUGE SIZED 5360 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 6693 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED 1149 CONTRACTS.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5360 CONTRACTS) ACCOMPANYING THE FAIR SIZED GAIN IN COMEX OI (1332) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 6693 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR JAN AT 8.214 TONNES FOLLOWED BY TODAY’S 22,100 OZ QUEUE JUMP//NEW STANDING 19.387 TONNES. / 3) ZERO LONG LIQUIDATION AND CONSIDERABLE TAS LIQUIDATION WITH CONSIDERABLE SHORT COVERINGS.// 4) FAIR SIZED COMEX OPEN INTEREST GAIN/ 5) HUGE ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: FAIR T.A.S. ISSUANCE: 1149 CONTRACTS

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY

JAN.

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

TOTAL EFP CONTRACTS ISSUED: 75,668 CONTRACTS OR 7,566,800 OZ OR 235.35 TONNES IN 17 TRADING DAY(S) AND THUS AVERAGING: 4451 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 17 TRADING DAY(S) IN TONNES 235.35 TONNES

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

THUS EFP TRANSFERS REPRESENTS 235.35/3550 x 100% TONNES 6.61% 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/2021

JAN:2022 247.25 TONNES //FINAL

FEB: 196.04 TONNES//FINAL

MARCH/2022: 409.30 TONNES //FINAL( 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/2022

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

MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY: 151.69 TONNES (WEAKER THAN LAST MONTH)

AUGUST: 195.28 TONNES (A STRONGER MONTH)//FINAL

SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)

OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.

NOV. 239.16 TONNES//WILL BE STRONG THIS MONTH,

DEC. 213.704 TONNES. A STRONG MONTH//

TOTAL FOR YEAR 2023: 2,569.57 TONNES VS 2578 TONNES LAST YEAR

JAN ’24: 235.35 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.)

SPREADING OPERATIONS

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

SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF FEB. 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 NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (FEB), 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.

The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.

First, here is an outline of what will be discussed tonight:

1.Today, we had the open interest at the comex, in SILVER FELL BY A HUGE SIZED 1333 CONTRACTS OI TO 137,226 AND FURTHER FROM THE 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 NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 720 CONTRACTS

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

MARCH 720 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 720 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 1069 CONTRACTS AND ADD TO THE 720 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A FAIR SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 671 CONTRACTS

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTAL 3.355 MILLION OZ

OCCURRED DESPITE OUR $.44 GAIN IN PRICE …..

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//

THURSDAY MORNING/WEDNESDAY NIGHT

SHANGHAI CLOSED UP 85.34 PTS OR 3.03% //Hang Seng CLOSED UP 312.09 PTS OR 1.96% /The Nikkei CLOSED UP 9.99 OR 0.03% //Australia’s all ordinaries CLOSED UP 0.48% /Chinese yuan (ONSHORE) closed DOWN AT 7.1687 /OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.1762 /Oil UP TO 75.93 dollars per barrel for WTI and BRENT DOWN AT 80.73/ Stocks in Europe OPENED ALL RED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3 CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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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 FAIR SIZED 1333 CONTRACTS TO 467,205 DESPITE OUR LOSS IN PRICE OF $9.75 WITH RESPECT TO WEDNESDAY TRADING. WE MUST HAVE HAD ZERO LONG SPEC LIQUIDATIONS IN THE COMEX SESSION WITH SOME SPEC SHORT COVERINGS AT THE LOWER PRICES.

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS 5360 EFP CONTRACTS WERE ISSUED: : FEB 5360 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 5360 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 6692 CONTRACTS IN THAT 5360 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A FAIR SIZED GAIN OF 1333 COMEX CONTRACTS..AND THIS STRONG SIZED GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR LOSS IN PRICE OF $9.75 WEDNESDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR WEDNESDAY NIGHT WAS A FAIR SIZED 1,149 CONTRACTS. THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS SOLD OFF THE LONG SIDE OF THE SPREAD WHICH OF COURSE CONTINUES TO MANIPULATE THE PRICE OF GOLD SOUTHBOUND. (THEY KEEP THE SHORT SIDE OF THE CALENDAR/T.A.S. SPREAD WHICH WILL BE LIQUIDATED IN DAYS HENCE//.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: JAN (19.387 TONNES) ( NON ACTIVE MONTH)

HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 24 MONTHS OF 2021-2023:

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. 64.000 tonnes

(TOTAL YEAR 656.076 TONNES)

2023:

JAN/2023: 20.559 tonnes

FEB 2023: 47.744 tonnes

MAR: 19.0637 TONNES

APRIL: 75.676 tonnes

MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338

JUNE: 64.354 TONNES

JULY: 10.2861 TONNES

AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)

SEPT: 15.281 TONNES FINAL

OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes

NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK = 34.9627 TONNES

DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707TONNES

TOTAL 2023 YEAR : 436.546 TONNES

JAN ’24. 19.387 TONNES

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT LOST $9.75 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A STRONG SIZED GAIN OF 6693 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A FAIR T.A.S. LIQUIDATION ON THE FRONT END OF WEDNESDAY’S TRADING . THE T.A.S. ISSUED ON WEDNESDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. WE ALSO EXPERIENCED CONSIDERABLE SPECULATOR SHORT COVERING BUT AT LOWER PRICES.

WE HAVE GAINED A TOTAL OI OF 20,81 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR JAN. (8,214 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 22,100 OZ QUEUE JUMP (0.6874 TONNES): NEW TOTAL STANDING 19.387 TONNES/ ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $9.75

WE HAD – ADDED 1 CONTRACT TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)

NET GAIN ON THE TWO EXCHANGES 6693 CONTRACTS OR 669,300 OZ OR 20.81 TONNES.

Estimated gold volume today:// 269,599 fair

final gold volumes/yesterday 321,906 very good

//speculators have left the gold arena

JAN 25 INITIAL

/ /// THE JAN 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	296,957.95 OZ asahi brinks 5000 kilobars JPMorgan 4200 kilobars. .
Deposit to the Dealer* Inventory in oz*	nil oz
Deposits to the Customer* Inventory, in oz*	nil oz
No of oz served (contracts) today	235 notice(s) 23,500 OZ 0.7309 TONNES
No of oz to be served (notices)	11 contracts 1100 oz 0.0342 TONNES
Total monthly oz gold served (contracts) so far this month	6222 notices 622,200 oz 19.353 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

0 dealer deposits:

total dealer deposits: nil oz

total customer withdrawals: 3

i)out of asahi: 1168.75 oz

ii) Out of Brinks 160,755.000 oz (5000 kilobars)

iii) Out of JPMorgan: 135,034.200 oz (4200 kilobars

total withdrawals 296,957.95 oz (9,23 tonnes)

we had 0 customer deposits

total deposits NIL oz

Adjustments; 2 dealer to customer

a) Brinks 56,714.364 oz

b) JPMorgan 76,147.925 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JAN.

For the front month of JANUARY we have an oi of 246 contracts having GAINED 218 contracts. We had 3 notices served on WEDNESDAY, so we gained 221 contracts or an additional 22,100 oz will stand for delivery at the comex .

FEB LOST 23,035 CONTRACTS FALLING TO 124,301

March GAINED 45 contracts to stand at 904.

APRIL GAINED 24,403 CONTRACTS RISING TO 275,328.

We had 235 contracts filed for today representing 23,500 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 235 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 2 notice(s) was (were) stopped ( received) by J.P.Morgan//customer account and 0 notice(s) received (stopped) by the squid (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the JAN. /2024. contract month, we take the total number of notices filed so far for the month (6222 x 100 oz ), to which we add the difference between the open interest for the front month of JAN. (246 CONTRACTS) minus the number of notices served upon today 235 x 100 oz per contract equals 623,300 OZ OR 19.387 TONNES

thus the INITIAL standings for gold for the JAN. contract month: No of notices filed so far (6222) x 100 oz + (246) {OI for the front month} minus the number of notices served upon today (235) x 100 oz) which equals 623,300 oz standing OR 19.387 TONNES

TOTAL COMEX GOLD STANDING FOR JAN: 19.387 TONNES WHICH IS GREAT FOR AN INACTIVE DELIVERY MONTH IN THE CALENDAR.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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 oz

total pledged gold: 1,326,338.282 41.25 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 19,920,150.805 OZ

TOTAL REGISTERED GOLD 9,012,674,218 (280.33 tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 10,607,476.587 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 7,686,336 oz (REG GOLD- PLEDGED GOLD) 239,07 tonnes

END

SILVER/COMEX

JAN 25/INITIAL

//2024// THE JAN 2024 SILVER CONTRACT//INITIAL

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	95,282.658 oz DELAWARE CNT .
Deposits to the Dealer* Inventory*	nilOZ
Deposits to the Customer Inventory	573,410.100 oz asahi cnt
No of oz served today (contracts)	227 CONTRACT(S) (1135,000 OZ)
No of oz to be served (notices)	12 contracts (60,000 oz)
Total monthly oz silver served (contracts)	1109 Contracts (5,545,000 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 deposit: nil oz

i) We had 0 dealer withdrawal

total dealer withdrawals: 0 oz

We had 2 deposits customer account:

i) Into ASAHI: 565,444.201 oz

ii) Into CNT; 7065.900.

total customer deposits 573,410.100 oz

JPMorgan has a total silver weight: 131.341 million oz/277.267 million or 47.19%

adjustment: 0

Comex withdrawals: 2

i) Out of Delaware 2021.608 oz

ii) Out of CNT: 93,261.050 oz

total withdrawal: 95,282.658 oz

TOTAL REGISTERED SILVER: 41.940 MILLION OZ//.TOTAL REG + ELIGIBLE. 277.263 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:

silver open interest data:

FRONT MONTH OF JAN. /2023 OI: 239 CONTRACTS HAVING GAINED 1 CONTRACT(S). WE HAD 0 NOTICES SERVED ON WEDNESDAY, SO WE GAINED 1 CONTRACTS OR AN ADDITIONAL 5,000 OZ WILL STAND FOR DELIVERY AT THE COMEX

FEB LOST 38 CONTRACTS TO STAND AT 715

MARCH LOST 1765 CONTRACTS TO 103,323

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 227 for 1,135,000 oz

Comex volumes// est. volume today 57,335 fair

Comex volume: confirmed yesterday 81,952 strong/raid

To calculate the number of silver ounces that will stand for delivery in JAN. we take the total number of notices filed for the month so far at 1109 x 5,000 oz = 5,545,000 oz

to which we add the difference between the open interest for the front month of JAN. (235) and the number of notices served upon today 227 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the JAN/2024 contract month: 1109 (notices served so far) x 5000 oz + OI for the front month of JAN. (235) – number of notices served upon today (227 )x 500 oz of silver standing for the JAN contract month equates to 5.605 MILLION OZ. to which we add our exchange for RISK of 1.0 million oz//new total 6.605 million oz/

New total standing: 6.605 million oz.

There are 41.940 million oz of registered silver.

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//

BOTH GLD AND SLV ARE MASSIVE FRAUDS!

JAN 25/WITH GOLD UP $2.50 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD: / //://INVENTORY RESTS AT 858.93 TONNES

JAN 24/WITH GOLD DOWN $9.75 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD: / //://INVENTORY RESTS AT 858.93 TONNES

JAN 23/WITH GOLD UP $3.95 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.02 TONNES OF GOLD FROM THE GLD/ //://INVENTORY RESTS AT 858.93 TONNES

JAN 22/WITH GOLD DOWN $6.00 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.15 TONNES OF GOLD FROM THE GLD/ //://INVENTORY RESTS AT 860.95 TONNES

JAN 19/WITH GOLD UP $8.15 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD //://INVENTORY RESTS AT 862.10 TONNES

JAN 18/WITH GOLD UP $14.85 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 2.30 TONNES OF GOLD FROM THE GLD//://INVENTORY RESTS AT 862.10 TONNES

JAN 17/WITH GOLD DOWN $23.25 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF .549 TONNES OF GOLD INTO THE GLD.;//://INVENTORY RESTS AT 864.40 TONNES

JAN 12/WITH GOLD UP $31.65 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD; A MASSIVE WITHDRAWAL OF 4.61 TONNES OF GOLD FROM THE GLD//://INVENTORY RESTS AT 864.99 TONNES

JAN 11/WITH GOLD DOWN $7.40 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD; A MASSIVE WITHDRAWAL OF 4.61 TONNES OF GOLD FROM THE GLD//://INVENTORY RESTS AT 864.99 TONNES

JAN 10/WITH GOLD DOWN $4.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD://INVENTORY RESTS AT 869.60 TONNES

JAN 9/WITH GOLD UP $0.95 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD://INVENTORY RESTS AT 869.60 TONNES

JAN 8/WITH GOLD DOWN $16.85 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A WITHDRAWAL OF 4.61 TONNES FROM THE GLD. INVENTORY RESTS AT 869.60 TONNES

JAN 5/WITH GOLD UP $0.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD:///. // INVENTORY RESTS AT 874.21 TONNES

JAN 4/WITH GOLD UP $7.60 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD:///. // INVENTORY RESTS AT 874.21 TONNES

JAN 3/WITH GOLD DOWN $29.40 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.90 TONNES OF GOLD INTO THE GLD///. // INVENTORY RESTS AT 874.21 TONNES

JAN 2/WITH GOLD UP $1.50 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.44 TONNES OF GOLD INTO THE GLD///. // INVENTORY RESTS AT 879.11 TONNES

DEC 29/WITH GOLD DOWN $10.25 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.16 TONNES OF GOLD INTO THE GLD///. // INVENTORY RESTS AT 880.55 TONNES

DEC 28/WITH GOLD DOWN $8.35 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.45 TONNES OF GOLD INTO THE GLD///. // INVENTORY RESTS AT 881.71 TONNES

DEC 27/WITH GOLD UP $23.25 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.01 TONNES OF GOLD INTO THE GLD///. // INVENTORY RESTS AT 880.26 TONNES

DEC 26/WITH GOLD UP $1.25 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD:/. // INVENTORY RESTS AT 878.25 TONNES

DEC 22/WITH GOLD UP $17,85 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD:/. // INVENTORY RESTS AT 878.25 TONNES

DEC 21/WITH GOLD UP $5.10 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A DEPOSIT .58 TONNES OF 2.02 TONNES OF GOLD INTO THE GLD//. // INVENTORY RESTS AT 878.25 TONNES

DEC 20/WITH GOLD DOWN $3.60 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A WITHDRAWAL OF 2.02 TONNES OF GOLD FROM THE GLD//. // INVENTORY RESTS AT 877.67 TONNES

GLD INVENTORY: 858.93 TONNES

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

JAN 25/WITH SILVER UP $0.03 TODAY MEGA CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.831 MILLION OZ INTO THE SLV(FAIRY TALES) // /

INVENTORY RESTS AT 448.236 MILLION OZ

JAN 24/WITH SILVER UP $0.44 TODAY MEGA CHANGES IN SILVER INVENTORY AT THE SLV: ANOTHER DEPOSIT OF 1.375 MILLION OZ INTO THE SLV(FAIRY TALES) // //INVENTORY RESTS AT 450.067 MILLION OZ

JAN 23/WITH SILVER UP $0.21 TODAY MEGA CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 16.201 MILLION OZ INTO THE SLV(FAIRY TALES) // //INVENTORY RESTS AT 448.694 MILLION OZ

JAN 22/WITH SILVER DOWN $0.45 TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 458,000 OZ OUT OF THE SLV // //INVENTORY RESTS AT 432.493 MILLION OZ

JAN 19/WITH SILVER DOWN $0.11 TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 458,000 OZ OUT OF THE SLV // //INVENTORY RESTS AT 432.493 MILLION OZ

JAN 18/WITH SILVER UP $0.13 TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV: // //INVENTORY RESTS AT 432.951 MILLION OZ

JAN 17/WITH SILVER DOWN $0.38 TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 779,000 OZ FROM THE SLV.: // //INVENTORY RESTS AT 433.500 MILLION OZ

JAN 16/WITH SILVER DOWN $0.08 TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV: // //INVENTORY RESTS AT 433.500 MILLION OZ

JAN 12/WITH SILVER UP $0.62 TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV: // //INVENTORY RESTS AT 433.500 MILLION OZ

JAN 11/WITH SILVER DOWN 34 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV: // //INVENTORY RESTS AT 433.912 MILLION OZ

JAN 10/WITH SILVER DOWN 3 CENTS TODAY SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 450,000 OZ FROM THE SLV// //INVENTORY RESTS AT 433.912 MILLION OZ

JAN 9/WITH SILVER DOWN 20 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV //INVENTORY RESTS AT 434.370 MILLION OZ

JAN 8/WITH SILVER DOWN 8 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 1,602,000 OZ INTO THE SLV//:././/////INVENTORY RESTS AT 434.370 MILLION OZ

JAN 5/WITH SILVER UP 20 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 916,000 OZ INTO THE SLV//:././/////INVENTORY RESTS AT 435.972 MILLION OZ

JAN 4/WITH SILVER UP 5 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV/:././/////INVENTORY RESTS AT 435.056 MILLION OZ

JAN 3/WITH SILVER DOWN 78 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWALOF 2.294 MILLION OZ OZ FROM THE SLV././/////INVENTORY RESTS AT 435.056 MILLION OZ

JAN 2/WITH SILVER DOWN 9 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWALOF 915,000 OZ FORM THE SLV././/////INVENTORY RESTS AT 437.35 MILLION OZ

DEC 29/WITH SILVER DOWN 29 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV/: //////INVENTORY RESTS AT 438.265 MILLION OZ

DEC 28/WITH SILVER DOWN 25 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV/: //////INVENTORY RESTS AT 438.265 MILLION OZ

DEC 27/WITH SILVER UP 20 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 1.374 MILLION OZ FROM THE SLV//////INVENTORY RESTS AT 438.265 MILLION OZ

THIS IS THE 3RD STRAIGHT DAY THAT THE SLV HAS ENGAGED IN WITHDRAWALS

DEC 26/WITH SILVER DOWN 14 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 1.465 MILLION OZ FROM THE SLV//////INVENTORY RESTS AT 439.639 MILLION OZ

DEC 22/WITH SILVER UP 0 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 2.289 MILLION OZ FROM THE SLV//////INVENTORY RESTS AT 441.104 MILLION OZ

DEC 21/WITH SILVER DOWN 2 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV/: NO CHANGES IN SILVER INVENTORY AT THE SLV//////INVENTORY RESTS AT 443.393 MILLION OZ

DEC 20/WITH SILVER UP 28 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV/: NO CHANGES IN SILVER INVENTORY AT THE SLV//////INVENTORY RESTS AT 443.393 MILLION OZ

CLOSING INVENTORY 448.236 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

END

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

The Battle Over Capital at the Mega Banks Must Expand to Breaking Them Up

By Pam Martens and Russ Martens: January 25, 2024 ~

Last Thursday, 12 Democrats in the U.S. Senate sent a deeply insightful letter on a subject most Americans have never discussed around their kitchen table: adequate capital levels at the Wall Street mega banks that came close to bringing down the U.S. financial system in 2008. Before that financial crisis was over – the worst since the Great Depression of the 1930s – millions of hardworking Americans had lost their jobs and millions more had their homes taken in foreclosure…

https://wallstreetonparade.com/2024/01/the-battle-over- capital-at-the-mega-banks-must-expand-to-breaking-them- up/

***

END

3. CHRIS POWELL//GATA GOLD COMMENTARIES:

GATA’s Murphy, GoldSeek’s Waltzek ponder whether this will be gold’s year

Submitted by admin on Wed, 2024-01-24 22:33 Section: Daily Dispatches

10:32p ET Wednesday, January 24, 2024

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy, interviewed by GoldSeek Radio’s Chris Waltzek, discusses whether this will be the year when the fundamentals of gold and silver demand finally are reflected in prices now that gold seems to be holding above $2,000 per ounce.

The interview is 15 minutes long and can be heard at Goldseek here:

https://goldseek.com/article/goldseek-radio-nugget-bill-murphy-suppression-gold-price

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

END

end

4. OTHER GOLD/SILVER //COMMENTARIES//PODCASTS

END

5 a. IMPORTANT COMMENTARIES ON COMMODITIES /

END

5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

end

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

ONSHORE YUAN: CLOSED DOWN 7.1687

OFFSHORE YUAN: UP TO 7.1762

SHANGHAI CLOSED UP 85.34 PTS OR 3.03%

HANG SENG CLOSED UP 312.09 PTS OR 1.96%

2. Nikkei closed UP 9.99 PTS OR 0.03%

3. Europe stocks SO FAR: ALL RED

USA dollar INDEX UP TO 103.06 EURO RISES TO 1.0887 UP 6 BASIS PTS

3b Japan 10 YR bond yield:RISES TO. +.746 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 147.66/JAPANESE YEN NOW RISING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK

3c Nikkei now ABOVE 17,000

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

3e Gold DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: DOWN// OFFSHORE: DOWN

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund UP TO +2.3610***/Italian 10 Yr bond yield UP to 3.936** /SPAIN 10 YR BOND YIELD UP TO 3.284…**

3i Greek 10 year bond yield UP TO 3.3590

3j Gold at $2014.40 silver at: 22.85 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 17 /100 roubles/dollar; ROUBLE AT 88.73//

3m oil into the 75 dollar handle for WTI and 80 handle for Brent/

3n Higher foreign deposits moving out of China// 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 147,66// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.746% 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 0.8652 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9427 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: 4.174 DOWN 1 BASIS PTS…

USA 30 YR BOND YIELD: 4.392 DOWN 2 BASIS PTS/

USA 2 YR BOND YIELD: 4.386 UP 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 30.28…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: UP 4 BASIS PTS AT 4.071

end

2.a Overnight: Newsquawk and Zero hedge

Can We Get A 5th All-Time High In A Row: Futures Flat Ahead Of ECB, GDP Report

THURSDAY, JAN 25, 2024 – 08:14 AM

After the S&P eeked out modst gains yesterday despite an intraday swoon, which helped it close for a 4th consecutive, the question is whether we can get a five-peat: for now, it’s on the fence, with S&P 500 futures flate ahead of a slew of US economic data and a meeting of the European Central Bank.while Nasdaq 100 futures inched up 0.1% as the market tried to shake off the gloom from Tesla’s disappointing earnings late on Wednesday. While shares in the electric carmaker dropped 8% in US premarket trading, those in IBM gained 7% after it delivered a positive revenue outlook. American Airlines Group Inc. and Blackstone Inc. also rose after reporting profits.

In premarket trading, Tesla shares tumbled 8% after the EV maker’s 2024 delivery guidance failed to soothe investor concerns about slowing demand. Here are some of the most notable premarket movers:

American Airlines (AAL) gains 4% after forecasting full year profit that’s above analyst expectations.
Boeing (BA) slips 2% after the FAA halted planned increases in production of the 737 Max.
Comcast Corp. (CMCSA) gains 2% after posting better-than-expected earnings and sales.
Hertz (HTZ) falls 2% after JPMorgan cut the recommendation on the car-rental company to neutral, citing few near-term catalysts.
Humana (HUM) plunges 13% after the company withdrew its 2025 earnings target and forecast 2024 profit far lower than Wall Street’s estimates.
IBM (IBM) rallies 7% after the IT services company reported fourth-quarter results that beat expectations.
Las Vegas Sands (LVS) advances 2% after posting sales that beat Wall Street’s expectations as Chinese travel to Macau continued its recovery, defying concerns of an economic slowdown.
Paramount Global (PARA) advances 3% after Bloomberg reported that Skydance Media’s David Ellison made an offer to buy National Amusements, the holding company of the Redstone family that controls 77% of the voting stock in the media giant.
Sherwin-Williams (SHW) falls 5% after providing a 2024 profit forecast that disappointed.
Virtu Financial (VIRT) slumps 5% after the financial services firm reported adjusted Ebitda for the fourth quarter that missed the average analyst estimate.

Elsewhere, Intel rose ahead of its own report later in the day. Thursday also brought some disappointing reports from the likes of European chipmaker STMicroelectronics NV dropped and South Korea’s SK Hynix Inc., the world’s no. 2 maker of memory chips, yest investors are confident interest rates will fall this year and that economic growth is likely to stay resilient.

“We are still in a bad-news-is-good-news environment and that if earnings drop a bit and margins tick down, it would be a further guarantee that interest rates will go down,” said Frederic Leroux, head of cross asset at Carmignac Gestion.

As noted in our preview, the ECB is expected to keep rates on hold at 4% later in the day, and its statement and post-meeting news conference will be parsed for clues on the path forward. While markets are leaning toward an April rate cut, ECB officials seem to be penciling in June for their first move.

Similarly, US GDP data is expected to show the economy expanded at a 2% annualized rate in the fourth quarter. A slew of other figures will also emerge, including inventories, new home sales and weekly unemployment claims, which should offer a snapshot of the economy before the next Federal Reserve meeting.

A key focal point for risk assets is the Treasury market, where long-dated yields have been on the rise. The 30-year yield eased about 2 basis points, having risen on Wednesday to its highest level this year, while 10-year yields are around 4.16%, up more than 20 basis points so far this year.

European stocks edge lower as traders look ahead to the ECB meeting later on Thursday. The Stoxx 600 is down 0.2% as investors await a meeting from the European Central Bank for further clues about interest rates. Chemicals, media and energy sectors are the best performers, while the autos sector falls after Tesla missed its earnings estimates. Among individual movers, STMicroelectronics falls as its sales outlook for the current quarter misses estimates and Nokia Oyj climbs after a better-than-expected fourth quarter. Here are some of the biggest movers on Thursday:

Shares in Tryg jump as much as 6.2%, the most in three months, after the Danish insurance company reported 4Q results that beat analyst estimates.
Shares in SEB advance as much as 3.7%, erasing earlier declines of as much as 2.7%, after Sweden’s largest lender missed earnings estimates, but posted higher-than-expected capital returns.
Shares in Givaudan rise as much as 5.4%, the most since November 2022, after the Swiss specialty chemicals firm reported full year like-for-like sales above estimates. Analysts highlighted strength in fine fragrances, while Morgan Stanley says the sequential improvement in like-for-like sales, especially in North America, in the fourth quarter is positive for other ingredient peers into 2024.
Shares in Dr. Martens gain as much as 7.9% to erase an earlier decline after the footwear maker maintained its full-year guidance in a third-quarter update. Investec said the company’s longer-term growth opportunities “have not gone away.”
Shares in Tod’s rise as much as 5.8% after analysts said the Italian luxury footwear firm’s preliminary full-year results imply strong fourth-quarter sales, driven by its retail channel, as well as strength in the Americas and Greater China. The final full-year results are due in March.
Shares in Publicis gain as much as 2.4%, touching a record high, after the advertising firm reported preliminary fourth-quarter organic revenue growth which beat estimates and announced plans to invest €300 million over the next three years in AI, including €100 million in 2024.
Shares in Sandvik rise as much as 2.2% after the Swedish industrial and mining equipment firm reported fourth-quarter results that mostly met expectations, with Jefferies seeing a cost-cutting program adding to earnings next year.
Shares in STMicro drop as much as 5.7% in Paris after the chipmaker’s guidance for FY24 revenue and gross margin missed estimates. STMicro said customer orders decreased in 4Q versus a quarter earlier. The outlook showed a deeper decline in demand for chips used in industrial applications, while demand for chips used in cars remains robust, analysts said. Peers including Infineon and Melexis also trade lower.
Shares in Wizz Air slide as much as 8.1% after the budget airline reported third-quarter sales and profits that missed estimates, saying that its results were affected by the cancellation of Israel flights. Analysts at Citi said that pricing weakness was a key negative, and sees risks to full-year guidance.
Shares in IG Group fall as much as 11%, the steepest drop since September 2021, after the online-trading company’s half-year trading update missed estimates, with analysts highlighting soft market conditions.
Shares in St. James’s Place drop as much 10%, the most in more than three months, after the UK wealth manager reported net inflows for the full year that missed the average analyst estimate.
Shares in Fevertree drop as much as 5.3%, biggest decline in almost four months, after the high-end tonic maker reported full-year revenue that missed estimates, with Morgan Stanley citing disappointing international sales.

Earlier in the session, Asian stocks were mostly higher as Chinese shares continued to climb on bets that the latest stimulus measures from Beijing will provide a floor for the cratering market.
The MSCI Asia Pacific Index rose 0.2% after swinging in a narrow range earlier in the session. TSMC and Tencent were among the biggest boosts while SK Hynix fell, paring a sliver of last year’s gains. Stocks rose in Australia and Taiwan as Indian equities retreated.
Shares in Hong Kong and mainland China climbed for a third day after the People’s Bank of China said it would cut the reserve requirement ratio for banks and hinted at more. Investors are still trying to gauge how long gains might be sustained after news earlier this week of a $278 billion market rescue package from the government.

Hang Seng and Shanghai Comp were boosted with outperformance in the latter as mainland participants took their first opportunity to react to the latest support measures by China including the 50bps RRR cut which will release CNY 1tln of funds.
Nikkei 225 eventually turned positive but lagged behind regional peers and briefly dipped below the 36,000 level.
ASX 200 notched mild gains as strength in the commodity-related sectors picked up the slack in the rate-sensitive industries.
Indian stocks resumed losses on Thursday with key gauges erasing half of the previous session’s gains, dragged by declines in the banking and technology shares. A key measure of lenders plunging to its lowest level in almost two months and today’s expiry of monthly derivative contracts also weighed on investor sentment. The S&P BSE Sensex fell 0.5% to 70,700.67 in Mumbai, while the NSE Nifty 50 Index slipped by a similar measure. HDFC Bank contributed the most to the index’s decline, decreasing 1.4%. BSE Ltd.’s banking index fell 0.6% to its lowest since Dec. 1.

In FX, the Bloomberg Dollar Spot Index falls 0.1%. The Norwegian krone extended gains after the Norges Bank stood pat and said high rates will likely be needed for some time ahead. USD/NOK is down 0.5%.

In rates, Treasuries rise, with US 10-year yields falling 2bps to 4.16%. Bunds and gilts are lower ahead of the European Central Bank meeting, while US session includes first estimate of 4Q GDP and weekly jobless claims data, as well as a 7-year note auction, last coupon sale until Feb. 6. US yields richer by ~2bp across long-end of the curve vs little-changed front-end and belly; 10-year yields around 4.16% outperform bunds and gilts by ~3bp on the day. Treasury auction cycle concludes with $41b 7-year note sale at 1pm; Wednesday’s sloppy 5-year note sale tailed by 2bp. WI 7-year yield around 4.115% is ~25.5bp cheaper than December’s result

In commodities, oil prices advance, with WTI rising 1.6% to trade near $76.30. Spot gold adds 0.2%.

To the day ahead now, and the main highlight will be the ECB’s monetary policy decision, and President Lagarde’s press conference. Data releases from the US include the advance reading of Q4 GDP, along with the weekly initial jobless claims and new home sales for December. Meanwhile in Germany, there’s the Ifo Institute’s business climate indicator for January. Finally, earnings releases include Visa, Intel and LVMH.

Market Snapshot

S&P 500 futures little changed at 4,902.25
STOXX Europe 600 little changed at 476.69
MXAP up 0.3% to 166.51
MXAPJ up 0.7% to 508.28
Nikkei little changed at 36,236.47
Topix up 0.1% to 2,531.92
Hang Seng Index up 2.0% to 16,211.96
Shanghai Composite up 3.0% to 2,906.11
Sensex down 0.7% to 70,586.84
Australia S&P/ASX 200 up 0.5% to 7,555.36
Kospi little changed at 2,470.34
German 10Y yield little changed at 2.36%
Euro little changed at $1.0893
Brent Futures up 1.0% to $80.86/bbl
Gold spot up 0.0% to $2,014.81
US Dollar Index little changed at 103.21

Top Overnight News

More and more Chinese investors are using creative ways to own bitcoin and other crypto assets that they believe are safer than investing in crumbling stock and property markets at home. While cryptocurrency is banned in mainland China and there are strict controls on capital movement across the border, people are still able to trade tokens such as bitcoin on crypto exchanges such as OKX and Binance, or through other over-the-counter channels. RTRS
Surging freight rates provide another reason for the ECB to temper hopes for early rate cuts. Red Sea chaos has pushed the Rotterdam-to-Shanghai container benchmark to $975 as of Jan. 18, from $466 a month earlier. That’s threatening to add upward pressure to euro-area inflation. BBG
Expect more ECB pushback against bets for rate cuts as early as April, after an anticipated hold for a third meeting. Christine Lagarde is poised to double down on her cautious data-dependence after last week’s signal that a summer reduction is “likely.” BBG
McConnell suggested the Senate could look to split Ukraine from the border given ongoing controversy around the latter topic (the odds of anything happening on the border are fading fast). The Hill
Fed says the Bank Term Funding Program will stop making new loans on Mar 11, and the rate on new BTFP loans has been increased to eliminate an arbitrage opportunity for banks (“the interest rate applicable to new BTFP loans has been adjusted such that the rate on new loans extended from now through program expiration will be no lower than the interest rate on reserve balances”). Fed
The economic agenda Trump would bring to a 2nd term will be very different from the first. Then, as now, Trump’s strongest economic conviction is in protectionism. In his first term, though, that was overshadowed by a sweeping tax overhaul Republican allies muscled through Congress. In his second term, no such tax plan is waiting in the wings. Instead, Trump wants to expand the trade war he started six years ago by hitting a range of trading partners with steep new tariffs. The tit-for-tat retaliation, higher costs, and supply-chain disruptions make for a less benign landscape than what prevailed before the Covid-19 pandemic hit in 2020. WSJ
More than 21 million people have signed up for health plans through the Affordable Care Act’s health insurance marketplaces, the Biden administration announced Wednesday. The record level of enrollment comes as former president Donald Trump, seeking the GOP nomination, is again vowing to repeal the program if elected. WaPo
Bank of America has sent “letters of education” to employees who have not been showing up at the office, warning them of disciplinary action, in the latest move from a large company to push staff back to the workplace. FT
TSLA down 8% pre mkt after company reported a miss on Q4 EPS due to weak margins, and mgmt. warns that vehicle volume growth in ’24 may be “notably lower” than ’23. BBG
GSPB: Overall Gross exposure has risen to new record highs, while Net exposure is now in the 50th percentile on a 3-year lookback (vs. 3rd percentile at the start of November). Importantly, both Long and Short exposures are now at their respective multi-year highs, a sharp contrast vs. the start of 2023 when Long exposure fell to post-Covid lows.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks were mostly positive but with gains capped as markets digested a slew of earnings releases and with the recent upside in global yields partially offsetting the Chinese stimulus euphoria. ASX 200 notched mild gains as strength in the commodity-related sectors picked up the slack in the rate-sensitive industries. Nikkei 225 eventually turned positive but lagged behind regional peers and briefly dipped below the 36,000 level. Hang Seng and Shanghai Comp were boosted with outperformance in the latter as mainland participants took their first opportunity to react to the latest support measures by China including the 50bps RRR cut which will release CNY 1tln of funds.

Top Asian News

Australian PM Albanese said every taxpayer will get a tax cut from July 1st as his government made changes to planned tax cuts including reducing benefits for the wealthy and providing low-income earners with more breaks, while Albanese commented that tax cuts have no implication on RBA’s inflation forecast.
Moody’s downgrades the rating of 17 Chinese local government financing vehicles by one notch; revises outlooks to negative

European bourses, Stoxx600 (-0.2%) are taking a breather from yesterday’s gains induced by the PBoC RRR cut & the Tech sector. Indices are marginally weaker, with the exception of the AEX (+0.4%), which continues to benefit from gains in ASML after earnings earlier in the week. European sectors hold a negative tilt; though, Energy is at the top of the pile amid higher crude prices. Chemicals and Media are both propped up by strong earnings results within the sector; Givaudan (+4.4%) and Publicis (+1.9%) assisting respectively. US equity futures are mixed; ES and NQ are trading on either side of the unchanged mark, whilst the RTY outperforms as it attempts to pare back the underperformance seen in the prior session. Tesla (-7.9%) is significantly lower in the pre-market after its results missed noting that 2024 vehicle growth will be lower than the prior year.

Top European News

Red Sea attacks reportedly push BHP to divert shipping from Asia to Europe, via WSJ citing sources; adding around nine days to transit time, according to experts cited.
Norges Bank maintains its Key Policy Rate at 4.50% as expected; “the policy rate will likely be kept at that level for some time ahead”. Click here for full analysis on the announcement.

Earnings

Tesla Inc (TSLA) – Q4 2023 (USD): Adj. EPS 0.71 (exp. 0.74), Revenue 25.17bln (exp. 25.59bln); 2024 vehicle volume growth may be notably lower than 2023. KEY METRICS: Free cash flow 2.06bln (exp. .1.45bln). Gross margin 17.6% (exp. 18.1%). CapEx 2.31bln (exp. 2.32bln). COMMENTARY: Cybertruck production and deliveries ramp throughout the year. One-time non-cash tax benefit of USD 5.9bln recorded. CEO Musk says very far along with next-generation product development Co. is to first produce next-generation vehicles in Texas followed by Mexico, while Co. expects capital spending to exceed USD 10bln in 2024. Says: Will start production of next-generation vehicle towards end-2025. Will ramp up battery cell orders from suppliers. The production ramp-up of next-generation vehicles will be challenging. Wants 25% control of the company to be an effective steward of very powerful technology. A dual class of stock would be ideal. Co. has a chance of shipping some Optimus units next year. Chinese car companies will demolish rivals without trade barriers. (Tesla) Shares -7.8% premarket.
International Business Machines Corp (IBM) – Q4 2023 (USD): oper. EPS 3.87 (exp. 3.78), Revenue 17.4bln (exp. 17.3bln). Sees FY free cash flow of about USD 12bln (exp. 10.9bln). Sees FY constant currency revenue growth consistent with the company’s mid-single digit model. (Newswires). Shares +7.4% premarket.
Nokia (NOKIA FH) – Q4 (EUR): Revenue 5.71bln (exp. 6.10bln), EPS 0.10 (exp. 0.13), Adj. EBIT 846mln (exp. 767.5mln), initiates a 2-year EUR 600mln share repurchase program; raises dividend to EUR 0.13/shr (prev. 0.12/shr). COMMENTARY: “In Q4 the environment remained challenging however there are now signs of stabilization with improving order trends.”. “Nokia expects Q1 net sales in its networks businesses (consisting of Network Infrastructure, Mobile Networks and Cloud and Network Services) to show an approximately normal seasonal decline sequentially.” GUIDANCE: Sees FY comparable operating profit between EUR 2.3-2.9bln (exp. 2.449bln). “Company decided to lower its comparable operating margin target to be achieved by 2026 from the prior at least 14% to at least 13%.” “Nokia still sees a path to achieving the at least 14% comparable operating margin target but considering the current market conditions in Mobile Networks, this was deemed a prudent change”. (Nokia/Newswires) +7.2% in European trade
STMicroelectronics (STM FP) – Q4 (USD): Revenue 4.28bln (exp. 4.31bln), Net 1.08bln (exp. 0.9bln), EPS 1.14 (exp. 0.95), Operating Income 1.02bln (exp. 1.04bln). OTHER METRICS: Intend to invest circa. 2.5bln in net CapEx during 2024. Q1 GUIDANCE: Revenue 3.6bln (exp. 4.06bln). Gross Margin 42.3%. COMMENTARY: “In Q4, our customer order bookings decreased compared to Q3. We continued to see stable end-demand in Automotive, no significant increase in Personal Electronics, and further deterioration in Industrial.” “In Q4, ST delivered revenues and gross margin slightly below the mid-point of the guidance, with higher revenues in Personal Electronics offset by a softer growth rate in Automotive.” (STMicroelectronics/Newswires) -3.0% in European trade

Uneventful trade for the USD with the DXY back on a 103 handle awaiting key US data releases; peak for today is at 103.40, just shy of its 200DMA at 103.47.
EUR is steady vs. the USD with the pair unable to reclaim 1.09 status ahead of the ECB. Well contained within yesterday’s 1.0848-1.0932 parameters, with a raft of EUR/USD Opex also in focus.
JPY is the marginal laggard across the majors vs. the USD but sticking to a 147 handle for now. Yesterday’s 146.65-148.39 range very much in place, and awaiting impetus from Tokyo CPI.
NOK inching slight gains vs. the EUR after the Norges Bank stood pat on rates whilst offering some hawkish guidance; next downside target comes via the 16th Jan low at 11.3230.
PBoC sets USD/CNY mid-point at 7.1044 vs exp. 7.1620 (prev. 7.1053).

Fixed Income

USTs contained with specifics limited thus far and perhaps given the marked hawkish cross-asset reaction seen after the disappointing 5yr outing on Wednesday.
Bunds hold a bearish tone; softer German Ifo provided fleeting respite, but Bunds have since reverted back towards their 133.58 trough.
Gilts continue to exude hawkish action with a fresh 97.57 WTD trough bringing into play 97.43 (8th Dec) & 97.39 (11th Dec) lows.

Commodities

A firmer session for the crude complex in a continuation of the upside seen yesterday whereby futures settled with gains of USD 0.72/bbl for WTI and USD 0.49/bbl for Brent; currently, Brent (+1.4%) and back above USD 81.00/bbl.
Precious metals are firmer to varying degrees with horizontal price action for spot gold while spot silver continues grinding higher despite a lack of obvious catalysts; XAU in a narrow USD 2,012.20-2,018.19/oz range. Base metals are also mostly firmer though with the breadth of the market fairly narrow.
Ukraine hits a Russian oil refinery in Tuapse with drones in operation by SBU agency, via Reuters citing Ukrainian sources; to continue attacking facilities providing fuel for the Russian military.
China’s 2023 gold consumption rose 8.78% Y/Y to 1089.7 tonnes and China’s gold output rose 0.84% Y/Y to 375.2 tonnes, according to the Gold Association.

Geopolitics

US President Biden sent a letter to congressional leaders informing them of his intention to formally notify Congress of the sale of F-16s to Turkey as soon as Ankara completes Sweden’s NATO ratification process, while he urged Congress to proceed with the F-16 sale without delay, according to Reuters.
China’s military said it organised troops to follow and monitor a US destroyer that transited through the Taiwan Strait, while it added that the US openly “hyped” up the passage, according to Reuters.
Taiwan’s President-elect Lai said he will continue to defend the cross-strait status quo of peace and stability, while he hopes the US can continue to firmly support Taiwan and hopes US Congress can continue to support Taiwan in bolstering self-defence capabilities.
Chinese Defence Ministry says US warships and planes have “caused trouble and provocations at China’s doorstep” and carried out large-scale high-frequency activities in waters and airspace around China. Says on patrols in the Taiwan Strait, says the PLA continues to train/prepare for war and will continue organising relevant military operations regularly.

US Event Calendar

08:30: Jan. Initial Jobless Claims, est. 200,000, prior 187,000
- Jan. Continuing Claims, est. 1.82m, prior 1.81m
08:30: 4Q GDP Annualized QoQ, est. 2.0%, prior 4.9%
- Personal Consumption, est. 2.5%, prior 3.1%
- GDP Price Index, est. 2.2%, prior 3.3%
- Core PCE Price Index QoQ, est. 2.0%, prior 2.0%
08:30: Dec. Durable Goods Orders, est. 1.5%, prior 5.4%
- Durables-Less Transportation, est. 0.2%, prior 0.4%
- Cap Goods Ship Nondef Ex Air, est. 0%, prior -0.2%
- Cap Goods Orders Nondef Ex Air, est. 0.1%, prior 0.8%
08:30: Dec. Wholesale Inventories MoM, est. -0.2%, prior -0.2%
- Dec. Retail Inventories MoM, est. 0%, prior -0.1%
08:30: Dec. Advance Goods Trade Balance, est. -$88.7b, prior -$90.3b, revised -$89.3b
08:30: Dec. Chicago Fed Nat Activity Index, est. 0.06, prior 0.03, revised 0.01
10:00: Dec. New Home Sales, est. 649,000, prior 590,000
- Dec. New Home Sales MoM, est. 10.0%, prior -12.2%
11:00: Jan. Kansas City Fed Manf. Activity, est. -3, prior -1

DB’s Jim Reid concludes the overnight wrap

Risk assets kept up their positive momentum over the last 24 hours, with the S&P 500 (+0.08%) just about reaching a record high for a 4th consecutive session, whilst US IG spreads fell to their tightest level in over two years. And in turn, Bloomberg’s index of US financial conditions eased to its most accommodative level in the last two years. The latest advance came as US data continued to surprise on the upside, with the January flash PMIs coming in stronger than expected, just as positive earnings releases offered further support. However, the rally began to turn later in the session after a challenging 5-year Treasury auction, which also meant 10yr Treasury yields (+4.7bps) ended the day at their highest level since the December FOMC meeting, at 4.18%. So a mixed but still mostly positive backdrop as we head into today’s ECB meeting.

When it came to yesterday’s flash PMIs, there was good news across the board in the US, with the services PMI up to a 7-month high of 52.9, whilst the manufacturing PMI hit a 15-month high of 50.3. Moreover, the releases contained more positive news on the inflation side, since the output prices component in the services PMI fell to its lowest since May 2020, so that offered more evidence that a soft landing could still be achieved. Looking outside the US, there were further signs of improvement, as the UK composite PMI hit a 7-month high of 52.5, and even though the Euro Area composite PMI was still in contractionary territory, it did hit a 6-month high of 47.9.

That data offered a sizeable boost to markets, which were further supported by several earnings releases. In particular, the Euro Stoxx 50 (+2.20%) hit its highest level since 2001 thanks to surges from ASML (+9.72%) and SAP (+7.63%) after their earnings results, and there was a record high for the DAX (+1.58%) as well. Back in the US, the S&P 500 had been trading +0.8% up on the day shortly after the European close, but sentiment softened during the US afternoon, with the index only just eking out another record by the close (+0.08%). Big tech stocks led the way again, with a +0.89% gain for the Magnificent 7, while the Philadelphia semiconductor index advanced +1.54% amidst the strong results from ASML. That said, a key point of caution is that this remains an unusually narrow rally. Only 28% of the S&P 500 constituents moved higher yesterday, with the equal-weighted S&P 500 down -0.54% on the day. So the equal-weighted index is now down -1.24% since the start of the year, even as the overall S&P 500 has hit successive records.

After the US market close, we saw Tesla’s results miss earnings and revenue expectations for Q4, with the company also warning that 2024 volume growth may be “notably lower” than last year. Its shares fell as much as 6% in after-market trading. By contrast, shares of IBM gained more than 6% in extended trading as it issued an upbeat outlook for 2024 revenue and free cash flow. Overnight, US stock futures are struggling to gain traction with those on the S&P 500 (+0.01%) basically flat ahead of today’s Q4 GDP report.

As mentioned at start, the trigger for the negative turn in US equities was a weak 5yr Treasury auction. The bonds were issued 2.0bps above the when-issued yield, and the bid-to-cover ratio and share of primary dealer take up were the lowest and highest respectively for a 5yr auction since September 2022. The auction results boosted the Treasury selloff that started after the strong flash PMI data, and the 10yr yield (+4.7bps) ended the day at 4.18%, which is its highest level since the Fed’s last meeting in December. The 2yr yield also rose by +1.0bps as the size of Fed rate cuts priced by the December meeting declined by -4.3bps to 132bps, the fewest so far in 2024. It was a similar story for gilts, with yields on 2yr gilts (+4.0bps) and 10yr gilts (+2.4bps) at their highest level in over a month. However in the Euro Area, the ongoing contraction in the PMIs meant that sovereign bonds had a better performance, with yields on 10yr bunds (-1.0bps), OATs (-0.8bps) and BTPs (-1.6bps) all moving lower.

Looking forward, the focus will be back on central banks today, as the ECB are announcing their latest policy decision. It’s widely expected that there’ll be no change in rates today, so the bigger question will be what they signal about any cuts at future meetings. In their preview (link here), our European economists are not expecting a change in messaging, and they expect President Lagarde to repeat that it’s too soon for the ECB to lower its guard on inflation. That said, investors still see a 64% chance of a cut by the April meeting, so it’ll be interesting to see if there’s any weight given to the idea they could cut that soon.

Otherwise from central banks, the main headline yesterday was from the Bank of Canada, which left rates unchanged again. In addition, Governor Macklem said that “there was a clear consensus to maintain our policy rate at 5%, and that the “discussion about future policy is shifting from whether monetary policy is restrictive enough to how long to maintain the current restrictive stance”. So this echoes what we’ve seen elsewhere, with central banks keeping rates on hold for the time being rather than raising them. In turn, markets interpreted that in a dovish light, and the Canadian dollar was the weakest-performing G10 currency yesterday, down -0.47% against the US Dollar.

Overnight in Asia, equities have got some fresh momentum after fresh stimulus announcements from China. That included the news that the reserve requirement ratio will be lowered by 50bps on February 5, along with other measures. In turn, that’s supported substantial gains this morning, with the Shanghai Composite up by +2.59% currently, which leaves it on track for its best daily performance since November 2022. Separately, there’ve also been gains for the Hang Seng (+1.89%) and the CSI 300 (+1.63%), although the Nikkei (+0.11%) and the KOSPI (-0.04%) have struggled to gain much traction this morning. Separately in Japan, 10yr government bond yields (+3.1bps) rose to a 6-week high of 0.74% after weak demand in a 40-year auction.

In other overnight news, the Fed raised the interest rate it will charge banks on the BTFP liquidity facility it launched during the banking stress last March. It also confirmed that the facility will not be extended beyond March, in line with earlier comments by Fed officials. The change will eliminate the arbitrage that banks have been able to take advantage of as rates cuts got priced, due to BTFP borrowing being priced off the 1y OIS rate.

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

Equities marginally weaker, Tesla -7.9% post-earnings, Crude bid; ECB and key US data due – Newsquawk US Market Open

THURSDAY, JAN 25, 2024 – 06:03 AM

European bourses are generally weaker, with the exception of the AEX which benefits from ASML; US equity futures are mixed, with the RTY outperforming
Tesla (-7.9%) is significantly lower in the pre-market after its results missed, noting that 2024 vehicle growth will be lower than the prior year.
Dollar is marginally weaker, EUR flat and JPY marginally weaker
Bonds hold a bearish tone following yesterday’s hot data and disappointing US 5yr outing
Crude is bid without a pertinent catalyst and base metals are incrementally firmer albeit within ranges
Looking ahead, US Building Permits, Durable Goods, GDP Advance, PCE Prices Advance, KC Fed Manufacturing, Tokyo CPI, ECB, & SARB Policy Announcements, Comments from ECB President Lagarde’s Press Conference. Supply from the US, Earnings from LVMH, Intel, Visa & Blackstone.

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EUROPEAN TRADE

EQUITIES

European bourses, Stoxx600 (-0.2%) are taking a breather from yesterday’s gains induced by the PBoC RRR cut & the Tech sector. Indices are marginally weaker, with the exception of the AEX (+0.4%), which continues to benefit from gains in ASML after earnings earlier in the week.
European sectors hold a negative tilt; though, Energy is at the top of the pile amid higher crude prices. Chemicals and Media are both propped up by strong earnings results within the sector; Givaudan (+4.4%) and Publicis (+1.9%) assisting respectively.
US equity futures are mixed; ES and NQ are trading on either side of the unchanged mark, whilst the RTY outperforms as it attempts to pare back the underperformance seen in the prior session. Tesla (-7.9%) is significantly lower in the pre-market after its results missed noting that 2024 vehicle growth will be lower than the prior year.
Click here and here for the sessions European pre-market equity newsflow, including earnings from STMicroelectronics, Nokia, IG Group, Sandvik & more.
Click here for more details.

FX

Uneventful trade for the USD with the DXY back on a 103 handle awaiting key US data releases; peak for today is at 103.40, just shy of its 200DMA at 103.47.
EUR is steady vs. the USD with the pair unable to reclaim 1.09 status ahead of the ECB. Well contained within yesterday’s 1.0848-1.0932 parameters, with a raft of EUR/USD Opex also in focus.
JPY is the marginal laggard across the majors vs. the USD but sticking to a 147 handle for now. Yesterday’s 146.65-148.39 range very much in place, and awaiting impetus from Tokyo CPI.
NOK inching slight gains vs. the EUR after the Norges Bank stood pat on rates whilst offering some hawkish guidance; next downside target comes via the 16th Jan low at 11.3230.
PBoC sets USD/CNY mid-point at 7.1044 vs exp. 7.1620 (prev. 7.1053).
Click here for more details.
Click here for the Option Expires for the NY Cut.

FIXED INCOME

USTs contained with specifics limited thus far and perhaps given the marked hawkish cross-asset reaction seen after the disappointing 5yr outing on Wednesday.
Bunds hold a bearish tone; softer German Ifo provided fleeting respite, but Bunds have since reverted back towards their 133.58 trough.
Gilts continue to exude hawkish action with a fresh 97.57 WTD trough bringing into play 97.43 (8th Dec) & 97.39 (11th Dec) lows.
Click here for more details.

COMMODITIES

A firmer session for the crude complex in a continuation of the upside seen yesterday whereby futures settled with gains of USD 0.72/bbl for WTI and USD 0.49/bbl for Brent; currently, Brent (+1.4%) and back above USD 81.00/bbl.
Precious metals are firmer to varying degrees with horizontal price action for spot gold while spot silver continues grinding higher despite a lack of obvious catalysts; XAU in a narrow USD 2,012.20-2,018.19/oz range. Base metals are also mostly firmer though with the breadth of the market fairly narrow.
Ukraine hits a Russian oil refinery in Tuapse with drones in operation by SBU agency, via Reuters citing Ukrainian sources; to continue attacking facilities providing fuel for the Russian military.
China’s 2023 gold consumption rose 8.78% Y/Y to 1089.7 tonnes and China’s gold output rose 0.84% Y/Y to 375.2 tonnes, according to the Gold Association.
Click here for more details.

NOTABLE EUROPEAN HEADLINES

Red Sea attacks reportedly push BHP (BHP AT) to divert shipping from Asia to Europe, via WSJ citing sources; adding around nine days to transit time, according to experts cited.
Norges Bank maintains its Key Policy Rate at 4.50% as expected; “the policy rate will likely be kept at that level for some time ahead”. Click here for full analysis on the announcement.

DATA RECAP

German Ifo Expectations New (Jan) 83.5 vs. Exp. 84.8 (Prev. 84.3); Curr Conditions New (Jan) 87.0 vs. Exp. 88.6 (Prev. 88.5); Business Climate New (Jan) 85.2 vs. Exp. 86.7 (Prev. 86.4); IFO says German business morale falls in January. Q1 GDP could shrink by 0.1% or 0.2%. Red Sea attacks have not yet impacted deliveries of raw materials and intermediate products. Lack of new orders, can also now be seen in service providers.
French Business Climate Mfg (Jan) 99.0 vs. Exp. 100.0 (Prev. 100.0, Rev. 99)
South African PPI MM (Dec) -0.6% vs. Exp. -0.3% (Prev. -0.6%); PPI YY (Dec) 4.0% vs. Exp. 4.3% (Prev. 4.6%)

NOTABLE US HEADLINES

Fed announced the Bank Term Funding Program will cease making new loans as scheduled on March 11th and it adjusted the interest rate on the emergency loan program to prevent arbitrage. Fed said it adjusted the interest on new BTFP loans to be no lower than the interest rate on reserve balances on the day the loan was made and that the new rate on BTFP loans effectively increases the rate by nearly 50bps with the change effective immediately.
On the US Smith-Wyden tax deal, Senate Republicans and one key Democrat told Punchbowl they want to hold a committee markup on the bill. That would slow down the nearly USD 80bln package.
BofA Total Card Spending (week to Jan 20th) -3.0% Y/Y vs +0.2% average in Dec.
Disney’s (DIS) India unit valuation falls to USD 4.5bln (vs prev. USD 10bln) in merger talks, according to Bloomberg.

EARNINGS

Tesla Inc (TSLA) – Q4 2023 (USD): Adj. EPS 0.71 (exp. 0.74), Revenue 25.17bln (exp. 25.59bln); 2024 vehicle volume growth may be notably lower than 2023. KEY METRICS: Free cash flow 2.06bln (exp. .1.45bln). Gross margin 17.6% (exp. 18.1%). CapEx 2.31bln (exp. 2.32bln). COMMENTARY: Cybertruck production and deliveries ramp throughout the year. One-time non-cash tax benefit of USD 5.9bln recorded. CEO Musk says very far along with next-generation product development Co. is to first produce next-generation vehicles in Texas followed by Mexico, while Co. expects capital spending to exceed USD 10bln in 2024. Says: Will start production of next-generation vehicle towards end-2025. Will ramp up battery cell orders from suppliers. The production ramp-up of next-generation vehicles will be challenging. Wants 25% control of the company to be an effective steward of very powerful technology. A dual class of stock would be ideal. Co. has a chance of shipping some Optimus units next year. Chinese car companies will demolish rivals without trade barriers. (Tesla) Shares -7.8% premarket.
International Business Machines Corp (IBM) – Q4 2023 (USD): oper. EPS 3.87 (exp. 3.78), Revenue 17.4bln (exp. 17.3bln). Sees FY free cash flow of about USD 12bln (exp. 10.9bln). Sees FY constant currency revenue growth consistent with the company’s mid-single digit model. (Newswires). Shares +7.4% premarket.
Nokia (NOKIA FH) – Q4 (EUR): Revenue 5.71bln (exp. 6.10bln), EPS 0.10 (exp. 0.13), Adj. EBIT 846mln (exp. 767.5mln), initiates a 2-year EUR 600mln share repurchase program; raises dividend to EUR 0.13/shr (prev. 0.12/shr). COMMENTARY: “In Q4 the environment remained challenging however there are now signs of stabilization with improving order trends.”. “Nokia expects Q1 net sales in its networks businesses (consisting of Network Infrastructure, Mobile Networks and Cloud and Network Services) to show an approximately normal seasonal decline sequentially.” GUIDANCE: Sees FY comparable operating profit between EUR 2.3-2.9bln (exp. 2.449bln). “Company decided to lower its comparable operating margin target to be achieved by 2026 from the prior at least 14% to at least 13%.” “Nokia still sees a path to achieving the at least 14% comparable operating margin target but considering the current market conditions in Mobile Networks, this was deemed a prudent change”. (Nokia/Newswires) +7.2% in European trade
STMicroelectronics (STM FP) – Q4 (USD): Revenue 4.28bln (exp. 4.31bln), Net 1.08bln (exp. 0.9bln), EPS 1.14 (exp. 0.95), Operating Income 1.02bln (exp. 1.04bln). OTHER METRICS: Intend to invest circa. 2.5bln in net CapEx during 2024. Q1 GUIDANCE: Revenue 3.6bln (exp. 4.06bln). Gross Margin 42.3%. COMMENTARY: “In Q4, our customer order bookings decreased compared to Q3. We continued to see stable end-demand in Automotive, no significant increase in Personal Electronics, and further deterioration in Industrial.” “In Q4, ST delivered revenues and gross margin slightly below the mid-point of the guidance, with higher revenues in Personal Electronics offset by a softer growth rate in Automotive.” (STMicroelectronics/Newswires) -3.0% in European trade

GEOPOLITICS

US President Biden sent a letter to congressional leaders informing them of his intention to formally notify Congress of the sale of F-16s to Turkey as soon as Ankara completes Sweden’s NATO ratification process, while he urged Congress to proceed with the F-16 sale without delay, according to Reuters.
China’s military said it organised troops to follow and monitor a US destroyer that transited through the Taiwan Strait, while it added that the US openly “hyped” up the passage, according to Reuters.
Taiwan’s President-elect Lai said he will continue to defend the cross-strait status quo of peace and stability, while he hopes the US can continue to firmly support Taiwan and hopes US Congress can continue to support Taiwan in bolstering self-defence capabilities.
Chinese Defence Ministry says US warships and planes have “caused trouble and provocations at China’s doorstep” and carried out large-scale high-frequency activities in waters and airspace around China. Says on patrols in the Taiwan Strait, says the PLA continues to train/prepare for war and will continue organising relevant military operations regularly.

CRYPTO

Bitcoin (+0.5%) holds around the USD 40k level, with Ethereum (+0.4%) also gaining to a similar magnitude.

APAC TRADE

APAC stocks were mostly positive but with gains capped as markets digested a slew of earnings releases and with the recent upside in global yields partially offsetting the Chinese stimulus euphoria.
ASX 200 notched mild gains as strength in the commodity-related sectors picked up the slack in the rate-sensitive industries.
Nikkei 225 eventually turned positive but lagged behind regional peers and briefly dipped below the 36,000 level.
Hang Seng and Shanghai Comp were boosted with outperformance in the latter as mainland participants took their first opportunity to react to the latest support measures by China including the 50bps RRR cut which will release CNY 1tln of funds.

NOTABLE HEADLINES

Australian PM Albanese said every taxpayer will get a tax cut from July 1st as his government made changes to planned tax cuts including reducing benefits for the wealthy and providing low-income earners with more breaks, while Albanese commented that tax cuts have no implication on RBA’s inflation forecast.
Moody’s downgrades the rating of 17 Chinese local government financing vehicles by one notch; revises outlooks to negative

DATA RECAP

South Korean GDP QQ (Q4 A) 0.6% vs. Exp. 0.5% (Prev. 0.6%); GDP YY (Q4 A) 2.2% vs. Exp. 2.1% (Prev. 1.4%)

2C ASIA AFFAIRS

THURSDAY MORNING/WEDNESDAY NIGHT

2 d./NORTH KOREA/ SOUTH KOREA/

NORTH KOREA/SOUTH KOREA

END

2e) JAPAN

JAPAN

Japan may hike rates by 10 basis pts (.10%) in April

(zerohedge)

Japan May Raise Rates Before Fed Starts Cutting

THURSDAY, JAN 25, 2024 – 06:30 AM

By Garfield Reynolds, Bloomberg markets live reporter and strategist

If a week is a long time in politics then a couple of weeks is an eternity in rates markets.

Traders came into this year feeling pretty certain the first cab off the central bank rank would be a 25-basis-point interest-rate cut from the Federal Reserve in March. Those bets have rapidly been unwound after policymakers pushed back against them and data signaled a still strong economy. Swaps contracts now show about a 36% chance the Fed lowers its benchmark that month, tumbling from 86% odds seen Jan. 15.

The most likely first mover is now seen to be the Bank of Japan, even though Governor Kazuo Ueda’s cautious stance meant that traders two weeks ago were favoring the idea he would retain the world’s last remaining negative interest rate until the second half of 2024. Now they see almost an 80% chance the BOJ hikes rates by 10 basis points in April.

Japanese bonds sold off in response Wednesday, and Treasuries also slid as fresh US data underscored the resilience of the economy there. This looks like turning into something of a vicious spiral higher for global yields, especially if Thursday’s European Central Bank meeting also demonstrates a relatively hawkish tone.

END

3 CHINA

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

FRANCE

end

SWEDEN/

END

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/GAZA/

TIMES OF ISRAEL

Hamas gets $8-12 million per month from charities posing as raising funds for Gaza — report

Israel and the US believe organizations ostensibly raising funds for Gazan civilians are actually funneling millions of dollars to Palestinian terror group Hamas, Bloomberg reports, citing several unnamed officials at Israel’s National Bureau for Counter Terror Financing, as well as an unnamed senior US official.

The officials estimate Hamas is getting $8-12 million per month, primarily through such aid groups, enabling it to evade international sanctions, something it has years of experience at.

Washington is determined to put an end to the phenomenon, the US news site cites the American official as saying.

END

ISRAEL GAZA

Israel-Hamas War: Hamas refuses hostage deal, IDF eliminates dozens of terrorists

Hezbollah rockets that landed in Israel possibly contained white phosphorus • Qatar appalled Netanyahu’s called them problematic mediators • ICJ ruling to come Friday

By JERUSALEM POST STAFF

An IDF tank operates in the Gaza Strip. January 25, 2024. (photo credit: IDF SPOKESPERSON'S UNIT) — An IDF tank operates in the Gaza Strip. January 25, 2024.(photo credit: IDF SPOKESPERSON’S UNIT)

END

‘Sinwar knows he will die a martyr’: Analysts weigh in on Hamas leader’s end-game – NBC

“He’ll keep some of the hostages forever,” Jacob Nagel said. “This will be his insurance policy that no one will kill him.” But Gershon Baskin expects a fight to the death.

By JERUSALEM POST STAFF

Yahya Sinwar leader of the Palestinian Hamas Islamist movement hosts a meeting with members of Palestinian factions, at Hamas President's office in Gaza City, on April 13, 2022. (photo credit: ATTIA MUHAMMED/FLASH90) — Yahya Sinwar leader of the Palestinian Hamas Islamist movement hosts a meeting with members of Palestinian factions, at Hamas President’s office in Gaza City, on April 13, 2022.(photo credit: ATTIA MUHAMMED/FLASH90)

A Wednesday NBC report echoed recent assessments that the IDF is likely closing in on Gaza leader Yahya Sinwar, but experts differed in their estimations of when Sinwar expects to meet his end and on what terms.

The report comes after the IDF found cages deep under Khan Yunis in which hostages are believed to have been held, a possible indication of the whereabouts of the terrorist leader, who is believed to have surrounded himself with hostages as human shields.

“It is a fair assumption that Sinwar and Hamas leadership were close to where those hostages were kept— and then they all moved on,” said Jonathan Conricus, a former IDF spokesman who is now a fellow at the Foundation for Defense of Democracies thinktank. “I think being close to hostages has saved his life more than once.”

The article noted, however, that “Israeli forces… cannot rule out the possibility that [Sinwar] may have crossed into Egypt through a tunnel.”The Kfir Brigade operates in Khan Yunis in the Gaza Strip January 22, 2024 (credit: IDF SPOKESPERSON’S UNIT)

Does Sinwar want to make it out alive?

Different defense analysts and Israeli leaders gave different assessments of Sinwar’s end-game with respect to his own life and the lives of the hostages.

“He’ll keep some of the hostages forever,” Jacob Nagel, a former national security adviser to Prime Minister Benjamin Netanyahu, is quoted as saying. “This will be his insurance policy that no one will kill him.”

Gershon Baskin, the Israeli diplomat and former mediator between the Jewish State and Hamas, said he is more inclined to expect a fight to the death.

“This is not Yasser Arafat in 1982 escaping to Beirut with the Palestinian Liberation Organization,” Baskin said, citing Hamas’s religious fundamentalism.

“I believe Sinwar knows he will die a martyr,” he added. “This is Hamas’s distorted version of Islam. Life on earth is short, and paradise is eternal.”

Go to the full article >>

END

WATCH: IDF commandos conduct precise strikes on terrorists, raid Khan Yunis command centers

Snipers from the Egoz unit carried out several precise strikes over the course of several hours using methods adapted to fight enemies that hide underground.

By JERUSALEM POST STAFF

https://player.jpost.com/public/player.html?player=jpost&media=3658325&url=https://www.jpost.com/Fighters from the Egoz Unit operate in Khan Yunis in the Gaza Strip January 25,2024 (IDF SPOKESPERSON’S UNIT)

Soldiers from Egoz and Maglan of the Commando Brigade conducted high-precision eliminations and raided intelligence headquarters belonging to PIJ and Hamas in Khan Yunis in the Gaza Strip, the IDF announced on Thursday.

The announcement stated that the Commando Brigade continued the attack in the Khan Yunis area and deepened the operational control over the Hamas stronghold. The Commando fighters, who specialize in guerrilla warfare, engaged in combat in particularly challenging terrain, showcasing their experience and operational skills, the IDF said.

Egoz used precision fire and missiles for accurate eliminations

The advance of the forces in the area was met with a lot of resistance from Hamas terrorist squads, which were eliminated through sniper fire, accurate missile targeting, and tank fire. In one of the cases, fighters from the Egoz unit identified three armed terrorists and launched a precision “steel sting” missile at them, eliminating all three of them. In addition, Egoz fighters eliminated four terrorists in short-range encounters during a raid on a building in the area.Soldiers from the Commando Brigade operating in Khan Yunis, in the Gaza Strip, January 25, 2024 (credit: IDF SPOKESPERSON’S UNIT)

The statement also said that snipers from the Egoz unit registered several eliminations over the course of several hours using methods adapted to fight enemies that hide underground.

Maglan took control of key command centers

Additionally, fighters from the Maglan unit operated vigorously in the field and eliminated many terrorists in fierce battles, raided terrorist infrastructure, and uncovered many weapons.

https://player.jpost.com/public/player.html?player=jpost&media=3658326&url=www.jpost.comSoldiers from the Maglan unit operate in Khan Yunis in the Gaza Strip, January 25, 2024 (IDF SPOKESPERSON’S Unit)

The fighters raided the military headquarters belonging to the commander of the intelligence system of the Palestinian Islamic Jihad, as well as command centers of Hamas, the IDF added. Therein, they reportedly located large quantities of ammunition, weapons, tactical radios, night vision equipment, maps, and valuable intel

.Go to the full article >>

END

Luring gunmen from tunnels, commandos start taking control of heart of Khan Younis — IDF

By EMANUEL FABIAN

This image released by the IDF on January 25, 2024, shows troops of the Commando Brigade operating in southern Gaza’s Khan Younis. (Israel Defense Forces)

The IDF says troops of its elite Commando Brigade are establishing operational control in “the heart of” Khan Younis, amid a major offensive against Hamas in the southern Gaza Strip city.

In a statement, the IDF says the brigade is “continuing the offensive in the Khan Younis area, and is deepening the operational control of the Hamas terrorists’ stronghold.”

The IDF says that as troops have advanced in the area, the commandos have encountered many Hamas cells, which were “eliminated with sniper fire, guided missiles, and tank shelling.”

In what the IDF describes as a special operation carried out by snipers from the brigade’s Egoz unit over the course of a number of hours, several Hamas operatives were killed after being tricked into coming out of tunnels in the Khan Younis area, according to the army.

In another incident, Egoz troops spotted three Hamas gunmen and targeted them with an Iron Sting guided mortar, the IDF says.

Egoz soldiers also killed four Hamas gunmen in close-quarters combat as the commandos raided a building.

The Commando Brigade’s Maglan unit, meanwhile, raided a command center belonging to the head of the Palestinian Islamic Jihad’s intelligence unit and a Hamas command center in Khan Younis, the IDF says.

In the command centers, the IDF says the troops seized weapons and military equipment, as well as maps and other “valuable” intelligence information.

Maglan commandos also killed “many terrorists during intensive battles” in the Khan Younis area, the IDF adds.

END

TIMES OF ISRAEL

Fierce battles rage in Khan Younis as IDF says it’s ‘increasing pressure’ on Hamas

Egypt accuses Israel of holding up entry of aid, while UN mission to assess feasibility of letting civilians return to northern Gaza delayed due to Israeli security concerns

By EMANUEL FABIAN, FOLLOW
AGENCIES and JACOB MAGID FOLLOW
24 January 2024, 4:17 pmUpdated at 6:58 pm

Troops of the Givati Brigade operate in southern Gaza’s Khan Younis, in a handout image published January 24, 2024. (Israel Defense Forces)

Israeli troops carried on fierce battles around Khan Younis on Wednesday, days into the IDF’s offensive in the largest city in southern Gaza, killing scores of Hamas gunmen as displaced Palestinians in the area continued to head further south.

In a statement Wednesday morning, the IDF said its 98th Division is continuing the large-scale offensive against Hamas in the area of Khan Younis, which it said is “increasing the pressure” on Hamas, while eliminating “many terror cells” with sniper fire, tank shelling and airstrikes.

The Hamas-run Gaza health ministry said Wednesday that 210 people had been killed in the Strip in the past 24 hours, as the IDF said it continues to battle and kill armed Hamas gunmen and “terror cells.” Palestinian officials accused Israel of encircling two hospitals in the city, preventing patients from entering the facilities.

The IDF did not immediately respond to the claim, but it has repeatedly accused Hamas of utilizing hospitals as command centers as well as holding hostages in them.

The military said troops from its Commando Brigade carried out raids on Hamas sites in the Khan Younis camp, where they encountered many operatives, including squads preparing to fire anti-tank missiles.

Also amid the operations in Khan Younis, the IDF said the Givati Brigade directed airstrikes on two cells of Hamas gunmen; the 7th Armored Brigade raided a number of Hamas sites, where troops killed several operatives and seized weapons used by the terror group; and the Paratroopers Brigade killed “a large number of terrorists” in a series of attacks.

A day earlier, the military announced the deaths of 24 IDF soldiers in the Strip, three of whom were killed in Khan Younis and 21 in a building collapse in central Gaza following an explosion.

In central Gaza, the IDF said later Wednesday that ith demolished a Hamas tunnel that was located just one and a half kilometers from the Israeli border.

The tunnel, found by reservists of the 646th Brigade and combat engineers of the elite Yahalom unit, connects north and southern Gaza, according to the IDF.

The IDF said the tunnel was one kilometer long, 20 meters deep, and was built around 1.5 kilometers from the border. It was later destroyed by combat engineers.

During the operation, the 646th Brigade also located rockets, anti-aircraft missiles and other military equipment used by Hamas.

As displaced Gaza continued to crowd into the southernmost city of Rafah, Egyptian President Abdel-Fattah el-Sissi said Wednesday that the Rafah crossing between Egypt and the Gaza Strip is open 24/7, but Israeli procedures were obstructing the entry of aid, adding: “This is part of how they exert pressure on the issue of releasing the hostages.”

COGAT, the Defense Ministry’s liaison office with the Palestinians, said there is no limit to the amount of aid that can enter the Strip, but it must be checked for security reasons: “Our inspection process is efficient, with us scaling up our capacities to maximize inspection capabilities,” COGAT said.

At least 25,700 Gazans have been killed so far in the war, the Hamas-run Gaza health ministry said Wednesday, an unverified figure which is believed to include close to 10,000 Hamas operatives Israel said it has killed during fighting in the Strip. Two hundred and nineteen IDF soldiers have been killed in the Gaza ground offensive.

People ferry water at a makeshift tent camp for displaced Palestinians in Rafah near the border with Egypt in the southern Gaza Strip, on January 24, 2024. (AFP)

Israel launched its offensive on Hamas following the terror group’s murderous rampage through communities and a music festival in southern Israel, in which it killed close to 1,200 people and took another 253 hostage, 132 of whom are believed to still be held captive in Gaza.

On Wednesday afternoon, the IDF released footage of the Givati Brigade’s operations in Khan Younis over the past day, during which it said troops killed numerous Hamas operatives and raided the terror group’s sites. The military said Givati soldiers killed several Hamas gunmen during clashes in the area, as well as with tank shelling and airstrikes.

Givati troops also raided several Hamas outposts in the Khan Younis area, locating caches of weapons used by the terror group’s operatives, the IDF said. The Air Force carried out a wide wave of airstrikes on Hamas targets in the area before the Givati soldiers moved in, the IDF said, as “the precise strikes prepare the conditions in the field for the ground forces.”

Residents of the area reported fierce gunbattles in the west of the city, while the Palestinian Islamic Jihad terror group said it was fighting Israeli forces in the west, south and east of Khan Younis.

Meanwhile, in central Gaza, the IDF said that reservists of its Yiftah Brigade spotted a Hamas gunman observing the troops from a building. The soldiers shelled the building, killing the operative. In northern Gaza, the IDF said the 215th Artillery Regiment directed several airstrikes, killing “many terrorists.”

Israeli troops operating in the Gaza Strip in an undated photo released by the military on January 24, 2023. (Israel Defense Forces)

While fighting in northern Gaza has been less intensive in recent weeks, a UN mission tasked with assessing conditions in northern Gaza has yet to begin amid Israeli concerns that the area is not yet safe, two officials familiar with the matter told The Times of Israel on Tuesday.

The US is looking for Palestinians to be allowed to return to northern Gaza after the IDF ordered its one million residents to evacuate at the beginning of the war. The safety concern voiced by Israel also appears to be an implicit acknowledgement that it does not have complete control of northern Gaza, even after ending what it called high-intensity fighting in the area earlier this month.

A US official said that the Biden administration trusts the Israeli assessment, but is also cognizant that Jerusalem may try and drag its feet in allowing the UN team to complete its mission. The official acknowledged that Israel is in no rush to allow Palestinians to return to northern Gaza, given that it has not yet determined who will be in charge of running civil affairs in that area, where Hamas is said to have largely lost its hold.

Times of Israel staff contributed to this report

END

Must be closing in on them as 100 HAMAS operatives surrendered.

IDF has captured over 100 Hamas operatives in last two days, Gallant says

By EMANUEL FABIAN

Defense Minister Yoav Gallant meets with IDF soldiers on January 25, 2024. (Ariel Hermoni/Defense Ministry)

Defense Minister Yoav Gallant says more than 100 Hamas operatives were captured by Israeli troops in the Gaza Strip in recent days, including some who surrendered after hiding in tunnels.

“Hamas is collapsing into its own tunnels that it painstakingly dug. Every place it thought would be a trap for IDF soldiers becomes an area where we hit it,” Gallant says to soldiers of the elite Yahalom combat engineering unit.

Gallant says Hamas has “hundreds of casualties underground” as a result of Yahalom’s actions.

“In the past day and a half, we have over 100 captives, some of them who came up from underground, in the Khan Younis area and also in other places, because they realize that they can’t fight against the IDF,” he says.

end

IRAN/IRAQ/USA

END

SYRIA/ISRAEL

end

LEBANON/ISRAEL

IDF strikes Hezbollah-Iran airport in major escalation

Gallant said at the time that at the airport, one can see Iran’s flag flying on the runways from which the ayatollahs’ regime is using to plot against Israel.

By YONAH JEREMY BOB

IDF along the northern border between Israel and Lebanon. (photo credit: IDF SPOKESPERSON'S UNIT) — IDF along the northern border between Israel and Lebanon.(photo credit: IDF SPOKESPERSON’S UNIT)

The IDF on Thursday attacked a key Hezbollah-Iran airstrip at Kilat Jaber for launching aerial attacks against Israel in a major escalation between the sides.

In September 2023, Defense Minister Yoav Gallant revealed pictures showing the joint Hezbollah-Iranian terror base in southern Lebanon only 20 kilometers from the border with Israel.

Gallant said at the time that at the airport, one can see Iran’s flag flying on the runways from which the ayatollahs’ regime is using to plot against Israel.

The defense minister also said, “Put differently, the land is Lebanese, the control is Iranian, the target is Israel.”
He said Israel must “remain aware and at [the] ready, with our eyes set on the binoculars and our fingers on the trigger.”

Gallant added that Iran remains the greatest threat to Israel, though sometimes it uses Hezbollah and other proxies to fight its wars against the Jewish state.Smoke and flares during an exchange of fire between the IDF and Hezbollah terrorists on the border between Israel and Lebanon, November 12, 2023. (credit: AYAL MARGOLIN/FLASH90)

If Hezbollah “goes toward a conflict with us, they will pay a high price.”

“We will not allow Iran to turn Syria into a Hezbollah 2.0” with powerful rockets, he said.

Previous IDF strikes

Only last week, the Jerusalem Post was present when top defense officials were asked about when the base would be struck, and they dropped hints that such an attack might not be far off, without committing to any timeframe.

The air force also attacked a series of Hezbollah targets in the areas of Tzur and Ma’ira in the territory of Lebanon.

Earlier Thursday, Hezbollah launched two “hostile aerial objects” into Israel which fell near Kfar Blum, the IDF said in extremely vague terms regarding whether IDF defenses functioned properly.

In addition, the IDF attacked other Hezbollah locations in Lebanon using artillery and mortars.

The military added that no one was hurt and no damage was caused.Go to the full article >>

end

WEST BANK/ISRAEL

Israeli security forces uncover explosives, kill terrorists in West Bank

Since the beginning of the war, approximately 2,700 wanted suspects have been arrested throughout the West Bank, over 1,300 of whom are associated with Hamas.

By JERUSALEM POST STAFFJANUARY 25, 2024 17:59

Israeli security forces secure the area while Orthodox Jews visit the Cave of Otniel Ben Knaz, in the West Bank city of Hebron, during the Sukkot holiday, October 02, 2023 (photo credit: WISAM HASHLAMOUN/FLASH90) — Israeli security forces secure the area while Orthodox Jews visit the Cave of Otniel Ben Knaz, in the West Bank city of Hebron, during the Sukkot holiday, October 02, 2023(photo credit: WISAM HASHLAMOUN/FLASH90)

https://trinitymedia.ai/player/trinity-player.php?pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-783736&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&version=20240125_df673717828359f2aeb5276f8a2bc4925a102f24&useBunnyCDN=0&themeId=140

A recent joint operation involving the IDF, Shin Bet, and Magav fighters was carried out in a comprehensive effort across the West Bank to counter potential terrorist activities, according to the IDF Spokesperson’s Unit on Thursday.

The operation resulted in the arrest of 16 wanted suspects, the destruction of concealed explosives, and the neutralization of a terrorist threat.

The operation was widespread, taking place in multiple cities.

In Jenin, seven wanted individuals were arrested overnight. IDF reserve fighters, employing engineering tools, uncovered explosive charges strategically placed under roads intended to wound and kill IDF soldiers. Additionally, a firefight broke out between Israeli forces and terrorists in the nearby village of Bir al-Basha, in which one assailant was eliminated, and weapons were confiscated.

In Nablus, Israeli security forces successfully apprehended two wanted individuals. Additionally, a 3D printer used for weapon manufacturing was confiscated, mitigating potential future threats in that area.

SECURITY FORCES at the scene following the terror attack in the City of David, in eastern Jerusalem, on January 28. (credit: YONATAN SINDEL/FLASH90)

In Bethlehem and Kfar Harmela, Duvdevan soldiers arrested two wanted suspects. The apprehended individuals, along with confiscated weapons, were transferred to security forces for further processing.

So far, since the beginning of the war, approximately 2,700 wanted suspects have been arrested throughout the West Bank, over 1,300 of whom are associated with Hamas.

end

Biden Dispatches CIA Director To Negotiate Major Gaza Ceasefire Deal

THURSDAY, JAN 25, 2024 – 03:00 PM

On Thursday The Washington Post is reporting a hugely unexpected development related to the Israel-Hamas war, writing that President Biden will send CIA Director William J. Burns in the coming days to help negotiate a ceasefire.

Unnamed officials speaking to the publication described that “Burns is expected to travel to Europe for the talks and meet with the Israeli and Egyptian intelligence chiefs, David Barnea and Abbas Kamel, and Qatari Prime Minister Mohammed bin Abdulrahman bin Jassim Al Thani.”

The news that Israel has offered a 2-month pause in fighting, which is being widely called the most significant and far-reaching ceasefire plan since the Gaza war began, emerged Monday and Tuesday. The multi-phase plan would involve the release of groups of Palestinian prisoners held in Israeli jails, safe passage for Hamas leaders to Gaza to other countries, and would in the end result in the release of all Israeli and foreign captives still held in the Strip.

Very quickly upon news of the proposed deal, there were international headlines saying Hamas firmly rejected it while demanding that Israeli forces first withdraw from Gaza.

However, Israeli media has also confirmed that engagement on the issue was still underway. The Jerusalem Post had cautioned, “Senior Israeli officials on Tuesday told Israeli media that the Qatari and Egyptian mediators have not notified them of Hamas’s rejection of the two-month cease-fire deal proposed by the Israeli government.”

While Burns, a former ambassador, has been dispatched to the region before to engage in quiet back-channel diplomacy with allies on a range of issues, it’s somewhat unprecedented that the head of the CIA would be directly involved in negotiations between Israel and Hamas to end a war.

Burns’ involvement sends an interesting message to terror groups and US rival abroad: you can conduct mass atrocities against civilians (Oct.7) and the White House will “reward” you by sending the highest CIA/intelligence official to engage.

There are emerging reports that Hamas is ‘open’ to the prospect of an Israeli-proposed deal:

HAMAS SAYS IF INTERNATIONAL COURT OF JUSTICE ISSUES RULING TO CEASEFIRE, HAMAS WILL ABIDE BY IT IF ISRAEL RECIPROCATES -OFFICIAL

But it remains that Hamas and Palestinian Islamic Jihad (PIJ) likely see Washington as a direct party to the conflict on Israel’s side, given the Israelis by and large rely upon US-supplied ordinance and weapons systems, especially in the aerial bombing campaign which has killed many thousands of Gazans.

Continues WaPo of some of the details, “Burns’s discussions in Europe are expected to build on his phone conversations with counterparts, as well as the work of the White House’s top Middle East official, Brett McGurk, who this week has held related meetings in Qatar’s capital, Doha and in Cairo.”

As is typical, the CIA has yet to comment, and is unlikely to do so until at least after the fact of Burns’ overseas trip.

END

Houthis/WEST

END

HOUTHIS//USA/

US Navy Smacks Down Houthi Claim That Ballistic Missile Hit American Ship

WEDNESDAY, JAN 24, 2024 – 04:57 PM

Update(1657ET): It didn’t take long for the Pentagon to smack down Houthi claims, also in the absence of any specific evidence…

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* * *

Update(1621ET): Yemen’s Houthis have issued a statement claiming that the earlier attack on a US-flagged Maersk vessel near the Red Sea actually hit the US ship. The Houthi military statement further praised the operation as a success, given the Maersk vessel and accompanying warships were “forced to withdraw” from their path entering the Red Sea.

“Several of our ballistic missiles struck their targets despite warships’ attempts to intercept them,” the new statement claims. However, the Houthis have not offered any proof, such as photographic evidence collected by drone footage. Also, the earlier Pentagon statement asserted there was no damage to crew or ship, and that it wasn’t hit. US CENTCOM had said one missile fell into the sea, while others were intercepted by the warship USS Gravely. The Houthis have been caught lying about or exaggerating the results of their operations. But of course, the Pentagon has incentive to suppress the potential that an American vessel was hit, given that it would mean the significant US Navy escort utterly failed.

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* * *

Update(1446ET): US Central Command has confirmed the attack incident on the US container ship, but has provided further key details saying that one of the no less than three Navy warships accompanying the US-flagged Maersk vessel intercepted most of the inbound anti-ship missiles fired from Yemen:

The US Central Command has said that the Houthis launched three anti-ship ballistic missiles at a US-flagged container ship off the coast of Yemen earlier on Wednesday.

“One missile impacted in the sea. The two other missiles were successfully engaged and shot down by the USS Gravely (DDG 107),” CENTCOM said in a statement. “There were no reported injuries or damage to the ship.”

The fact that the Houthis launched the missiles despite the presence of a warship group is a testament to the fact that the Western naval coalition has not served as an effective deterrent.

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* * *

Update(11:30ET): As we previously noted, earlier in the morning Sky News reported that Houthi forces fired at least two missiles from Al-Bayda towards the Gulf of Aden. Well, it seems they were targeting a US vessel, even despite it having a US Naval escort. Per the breaking details in Bloomberg:

Two Maersk vessels were targeted in attacks near the Red Sea on Wednesday, ShippingWatch reports, citing the Danish shipping company. The vessels, which belong to Maersk’s US subsidiary Maersk Line Ltd., were headed for the Bab el-Mandeb Strait, escorted by the US Navy, news website says.

ShippingWatch indicated that as a result of the attack, wherein all the crew and ships were unscathed, the ships have turned around. Maersk starting in early January suspended transit for all its ships, but the directive did not apply to its US subsidiary.

This fresh incident is hugely significant given that after some eight or more rounds of US missile attacks and airstrikes on Houthi positions, the Iran-linked group remains undeterred, even with a US Navy escort seeking to protect an American container vessel.

* * *

Two months of drone and missile attacks on commercial vessels, as well as hijackings, in the highly contested Red Sea region by Iran-backed Houthi rebels, have yet to abate as economic costs mount for shippers and increased risks of snarled global supply chains.

The latest evidence that Red Sea disruptions will persist is a notice from the Department of Transportation informing commercial ship operators to avoid the “Southern Red Sea between 12N and 16N.”

There continues to be a high degree of risk to commercial vessels transiting the Southern Red Sea between 12N and 16N. While the decision to transit remains at the discretion of individual vessels and companies, it is recommended that US flag and US-owned commercial vessels remain North of 18N in the Red Sea or East of 46E in the Gulf of Aden until further notice.

Besides Houthi attacks on Western vessels, the US and allies have ramped up attacks on the rebels in Yemen with repeated airstrikes.

Bloomberg reported early Wednesday that one of the world’s largest shippers, Maersk, told clients in a notice to prepare for supply line disruptions as containerized vessels are rerouted to the Cape of Good Hope, which takes an extra 1-2 weeks for Asia to Europe shipping lanes.

“While we continue to hope for a sustainable resolution in the near-future and do all we can to contribute towards it, the situation currently remains untenable,” Maersk said.

According to Flexport data, more than 500 container ships that would have sailed through the Red Sea have been rerouted to the Cape of Good Hope at the southern tip of Africa. This is about a quarter of all the container shipping capacity in the world.

Meanwhile, a new report from the Financial Times, citing “American officials,” says the US has asked China to help rein in Houthi rebels.

Officials have repeatedly raised the matter with top Chinese officials in the past three months, asking them to convey a warning to Iran not to inflame tensions in the Middle East after Hamas’s October 7 attack on Israel and the ensuing war.

US national security adviser Jake Sullivan and his deputy, Jon Finer, discussed the issue in meetings this month in Washington with Liu Jianchao, head of the Chinese Communist party’s international department, according to US officials. Secretary of state Antony Blinken also raised it, said a state department official. -FT

In recent weeks, Red Sea diversions have tightened capacity and resulted in soaring container prices:

“We haven’t seen costs increase this quickly since the last crunch in the pandemic,” said Vincent Iacopella, a logistics expert at Alba Wheels Up, who spoke with Bloomberg.

Iacopella said, “Many of the underlying bottlenecks in supply chains remain, even though prices dropped last year as the Covid-19 disruptions faded.

The cost of shipping containers from China to the Mediterranean Sea has quadrupled since late November.

We pointed out last week that executives and investors are becoming concerned about Red Sea disruptions in earnings calls.

Using the Document Search function on Bloomberg, earnings-call mentions of “Red Sea” topped 41 last week, a record high. As the earning season progresses, the mentions will likely increase.

And as of writing this note, Sky News reports Houthi forces “fire a second missile from Al-Bayda towards the Gulf of Aden.”

President Biden’s Operation Prosperity Guardian faces severe hurdles as the West’s move to secure the critical waterway has failed so far.

END

HOUTHIS/USA/SHIPPING

Red Sea Blockage Leads To “Out Of Control” Shipping Rates; Charters Hits $100,000 Per Day

BY TYLER DURDEN

THURSDAY, JAN 25, 2024 – 06:55 AM

One month ago, when it first became apparent that the Red Sea blockage by Iranian proxies would prove to be a prolonged affair, we warned that “Red Sea Blockage Means A New Round Of Surging Cost-Push Inflation“, which got confirmation just a few days later when we showed the sudden spike in container shipping rates that used the Suez Canal as a transit choke point.

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That, as we strongly suspected, was just the beginning, and according to Bloomberg, a key Clean Tanker rate tracked by the Baltic Exchange, has exploded to almost $100,000 a day on the Red Sea disruptions.

Specifically, the cost of shipping fuel on a route that mostly hauls naphtha from the Middle East to Japan surged (again) on Wednesday, with the daily charter earnings climbing 18% to $98,000/day, the highest since May 2020. Meanwhile, earnings for smaller ships sailing from the Middle East to Japan route rose 22% to $75k/day, also the highest since May 2020.

The charts of the day from the latest Goldman Oil Tracker (full report available to pro subscribers in the usual place) shows something similar, if slightly less dramatic: the first shows that oil flows through the Bab-El-Mandeb continue to deteriorate, and remain down 1.2mb/d (or 20% on a 14DMA Basis) since disruptions started on December 18th, 2023 and down 2.4mb/d (or 33%) from the pre-disruption 2023 average.

At the same time, Goldman’s indices of global freight rates for clean and dirty oil tankers have risen 1$/bbl (16%) and 0.8$/bbl (25%), respectively since the disruptions began. The impact of Red Sea disruptions on volumes through the Red Sea and on freight rates is significantly larger for containers transporting goods than for oil tankers (and certainly for US and European ships than for Chinese and Russian ones).

Paradoxically, the more moderate impact on oil flows reflects the lower physical risk from a Red Sea journey – as many oil tankers are from Russia and the Middle East, both of which are on the Houthi “friendly” list – and a greater cost of delaying the delivery through a longer alternative journey.

The bottom line is that the Red Sea blockage is – despite the best wishes of cecntral bankers everywhere who can’t wait to start cutting rates ahead of the record avalanche of elections this year – becoming a huge inflationary headache for global freight. Furthermore, as LoadStar reports, container spot rates from Asia to the US and Europe continued to soar this week as any solution from the toothless (both literally and metaphorically) Biden regime to the attacks on shipping by Houthi rebels looks increasingly unlikely.

Moreover, reports to The Loadstar suggest that some shippers of low-rated contract cargo are seeing their allocations slashed by up to 80% by their carriers, forcing them onto the spot market.

Xeneta’s XSI Asia-North Europe spot component jumped 25%, for an average of $4,612 per 40ft, representing a month-on-month increase of nearly 200%.

However, for shipments before the Chinese New Year, which commences on 10 February, some carriers are touting rates in excess of $10,000 per 40ft. One UK-based NVOCC director told The Loadstar he had decided only to ship his most urgent boxes before CNY, on the basis that rates should go down in the traditionally slack period following the holiday.

“The lines have plenty of ships and demand is still not that strong, so once the longer transits get baked into their schedules, I can’t see any reason why rates would stay high,” he said.

Meanwhile, Mediterranean shippers are not only facing huge delays in containers arriving from Asia, but are seeing the cost of spot freight rates leap to more than $6,500 per 40ft, from $2,300 at the end of December.

Elsewhere, transpacific spot rates from Asia to North America are “out of control”, according to a UK forwarder contact currently in Shanghai.

“The lines are charging what they like at the moment, whether that is to the west or east coast, the market has been taken over by a return of the pandemic ‘fear factor’ of not getting product shipped,” said the forwarder.

Unfortunately, it’s only getting worse as transpacific carriers are still in the process of raising their rates, with further FAK (freight all kinds) hikes planned for 1 and 15 February.

Drewry’s WCI Asia to US west coast spot shot up 38% this week, to an average of $3,860 per 40ft, while its east coast spot climbed 35%, to $5,644 per 40ft, respectively 88% and 64% higher than for the same week of last year.

Vespucci Maritime’s Lars Jensen commented: “It would appear that the carriers’ ability and shippers’ de facto willingness to accept steep increases matches the behaviour we saw in the pandemic.”

The silver lining is that for now at least, the contagion has not spread to transatlantic spot rates, which were mostly flat this week, with the XSI North Europe to US east coast spot stuck at a lowly $1,432 per 40ft (but climbing ever so gradually. And indeed, according to The Loadstar’s contacts, there are “big increases in the pipeline” that will kick in next month.

“With the crazy rates the lines are getting elsewhere I can’t see that the carriers will accept the current transatlantic rates for much longer,” said a Liverpool-based forwarder contact

END

HOUTHIS/USA/WEST/

END

IRAN/IRAQ/USA

END

SOMALIA/USA

US Launches Airstrikes In Somalia For First Time This Year

WEDNESDAY, JAN 24, 2024 – 05:00 PM

Authored by Dave DeCamp via AntiWar.com,

The US launched airstrikes in Somalia on January 21, US Africa Command announced on Tuesday, marking the first known US bombing of the country in 2024.

AFRICOM said in a press release that the strikes consisted of two separate engagements against al-Shabaab about 20 miles northeast of Kismaayo, a port city in southern Somalia. The command said the strikes were launched at the request of the US-backed Mogadishu-based government.

The command said its “initial assessment” found three al-Shabaab fighters were killed and claimed no civilians were harmed. But AFRICOM is notorious for undercounting civilian casualties, and US military operations in Somalia are shrouded in secrecy.

The last US airstrikes in Somalia reported by AFRICOM were launched on December 20. The latest US bombing comes as tensions are soaring off the northern Somali coast as the US has launched a new war against Yemen’s Houthis in response to their attacks on Israel-linked commercial shipping that started in protest of Israel’s onslaught in Gaza.

US airstrikes in Somalia escalated in 2022 after President Biden ordered the deployment of up to 500 troops to the country, and the US-backed government launched an offensive against al-Shabaab.

When the House debated a resolution to withdraw from Somalia last year, lawmakers said there were 900 troops in the country. US troops on the ground in Somalia provide training for a special fighting force known as the Danab Brigade.

US operations in Somalia under Biden have not gotten as intense as they were during the Trump administration when the US bombed the country at a record pace.

The US military hypes the threat of al-Shabaab due to its size and al-Qaeda affiliation, but it’s widely believed the group does not have ambitions outside of Somalia. Al-Shabaab was born out of a US-backed Ethiopian invasion in 2006 that toppled the Islamic Courts Union, a coalition of Muslim groups who briefly held power in Mogadishu after ousting CIA-backed warlords.

Al-Shabaab was the radical offshoot of the Islamic Courts Union. The group’s first recorded attack was in 2007, and it wasn’t until 2012 that al-Shabaab pledged loyalty to al-Qaeda after years of fighting the US and its proxies.

END

RUSSIA/UKRAINE

ROBERT H TO US

Limited Military Draft — September 29, 2024? | Armstrong Economics

This is an intervening and curious part of history in the making.

September is the month when millions of 20-35 years Americans will find themselves being reported to credit agencies over missed student loan payments.

All manner of default will occur as a result as Credit Scores tank. Add to this civil unrest with immigration and cities like Chicago becoming shit holes pressure to put a lid on unrest will explode. Do you think keeping migrants warm in buses is practical ? To do a draft means there needs to be a war to justify such action. And these folks along with unchecked migrants make for easy soldiers to send into battle.
In Kiev behind the curtain, talk has already taken place on moving the Capital to Lviv as Kiev will likely be part of Russia by the end of summer. Kiev is the original capital of the Kievan Rus much to the chagrin of those who deny history. The NATO so called 90,000 strong military games west of Ukraine in May of this year maybe the excuse to send these troops into Ukraine because of upcoming Russian advances. If that happens many of those troops will meet the same fate as Ukrainians have found, death. Over a million have died already and more will die in a fruitless and needless effort.
Be aware that come June through October will be an eventful time where turbulence will exist and impact everything.

Limited Military Draft — September 29, 2024?

end

GLOBAL VACCINE/COVID ISSUES

Why Has The Number Of Measles Cases Been Rising So Rapidly All Over The World?

THURSDAY, JAN 25, 2024 – 07:20 AM

Authored by Michael Snyder via TheMostImportantNews.com,

Have you noticed that stories about measles have been popping up in the news a lot lately? At first I didn’t pay much attention, but then I decided to look into what is going on, and I was quite alarmed by what I found. At one time measles was a disease that was on the verge of being totally defeated, but now it is back with a vengeance.

According to the World Health Organization, the number of measles cases in Europe in 2023 was 45 times higher than it was in 2022…

There was an “alarming” nearly 45-fold increase in measles cases in Europe last year, the World Health Organization (WHO) says.

Health chiefs are warning that cases are still rising and “urgent measures” are needed to prevent further spread.

Some 42,200 people were infected in 2023, compared to 941 during the whole of 2022.

What could possibly account for an increase of this magnitude?

I don’t know, because this isn’t supposed to be able to happen.

We are being told that Russia and Kazakhstan each reported approximately 10,000 cases during the first ten months of last year…

Russia and Kazakhstan fared the worst, with about 10,000 cases each from January to October last year. In Western Europe, Britain had the most cases with 183.

The WHO said there were nearly 21,000 hospitalizations and five measles-related deaths in the January-October period in the 51 countries in its European region.

Why is Russia being hit so hard?

Could this have anything to do with the war in Ukraine?

I don’t know.

Of course cases of measles have been spiking in many other parts of the globe as well. Here in the United States, there have been outbreaks in Pennsylvania, Virginia and Georgia during the past couple of months…

Nearly a dozen cases of measles have been reported in Pennsylvania, Virginia and Georgia in recent weeks, according to local health departments. International travel, coupled with declining global vaccination rates, is probably behind this spate of cases, experts say.

The Philadelphia Department of Public Health has confirmed at least nine cases of measles over the past month after a person contracted the highly contagious virus outside the United States and exposed a parent and child at a children’s hospital, according to health department spokesperson James Garrow. That exposure then led to a Philadelphia day care outbreak that includes at least five children.

Once measles appears in a community, it can spread very rapidly, and that is because it is extremely contagious…

But unlike other common viruses, measles is so contagious that up to 90 percent of people who are close to an infected person will become infected if they are not immune to the virus, according to the Centers for Disease Control and Prevention (CDC).

“It doesn’t have to be cough right in your face,” Stinchfield says. Tiny virus particles can survive in the air for two hours, where they “circulate around and bounce over to this person and that person, and before you know it, you’ve exposed a lot of people,” she says.

What’s more, a person infected with measles can spread the virus four days before the most obvious symptom — a telltale rash — appears.

Hopefully this measles scare will turn out to be nothing.

But I will be keeping a very close eye on any future developments.

Meanwhile, the H5N1 bird flu continues to kill vast numbers of birds and animals all over the planet.

In Argentina, it has been spreading rapidly among seals, and almost all of the seal pups that get infected end up dead…

Almost 96 percent of Southern elephant seal pups across Argentina born in 2023 have met a tragic end as a highly contagious strain of avian influenza continues to wreak havoc on wildlife.

The scale of mortality sparks concerns that the H5N1 strain is now capable of mammal-to-mammal infection.

“The sight of elephant seals found dead or dying along the breeding beaches can only be described as apocalyptic,” says Wildlife Conservation Society (WCS) health director Chris Walzer.

Once there is sustained mammal to mammal transmission of H5N1, scientists tell us that it is probably only a matter of time before there is an outbreak among humans.

And that is really bad news, because H5N1 can have “a greater than 50% death rate” among humans according to the CDC.

So we will watch for more reports that H5N1 is spreading among mammals.

Earlier today, I found a story about a polar bear in Alaska that just died from the disease…

A polar bear has been killed by bird flu as the highly contagious H5N1 virus spreads into the most remote parts of the planet.

The death was confirmed in December by the Alaska Department of Environmental Conservation. “This is the first polar bear case reported, for anywhere,” Dr Bob Gerlach, Alaska’s state veterinarian, told the Alaska Beacon.

It was found near Utqiagvik, one of the northernmost communities in Alaska, two years after this latest strain was detected in North America.

Needless to say, that is not a good sign.

There is one more thing that I wanted to mention before I wrap up this article.

Employees at a hospital in Denver have been given a live Ebola vaccine “for preventative measures”…

A few medical employees at Denver Health made history Monday as some of the first people to receive the live Ebola vaccine for preventative measures, the hospital said.

Ebola is a rare but deadly disease. In 2014, a major outbreak in West Africa led to some cases in the United States. While there are no known outbreaks in the world right now, members of Denver Health’s High Risk Infection Team said they are some of the first to receive the live vaccine as a way to be prepared in the event of a future outbreak.

If Ebola is not a threat in North America, why do this?

I don’t understand.

Over the past few years, there have been some tremendous public health scares, but I believe that what we have seen so far is nothing compared to what is coming.

The diseases that are already circulating around the globe will continue to mutate, and it is inevitable that new outbreaks will erupt.

In secret labs all over the planet, researchers are experimenting with some of the deadliest diseases ever known to humanity, and in many of those cases they are actually trying to make those diseases even deadlier.

It is way too easy for an accident to happen, and once a bug gets loose it can spread all over the world in the blink of an eye.

Our ability to create great “pestilences” has far surpassed our ability to control them, and that represents a very serious existential threat to all of humanity.

* * *

Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

END

OTHER MEDICAL VACCINE INJURY/CANCER REPORTS

END

MARK CRISPIN MILLER

Dejan Milojevic WAS “vaccinated,” then boosted; last week had a “medical emergency” at a team dinner—and is now dead. (“Our free press” calls this a “conspiracy theory.”)

MARK CRISPIN MILLERJAN 25

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Warriors’ Andrew Wiggins explains decision to get COVID-19 vaccine: Options were ‘to get vaccinated or not play in the NBA’

October 5, 2021

https://www.espn.com/nba/story/_/id/32341148/warriors-andrew-wiggins-explains-decision-get-covid-19-vaccine-options-were-get-vaccinated-not-play-nba

News from Underground by Mark Crispin Miller is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Upgrade to paid

The Warriors “hosted a booster clinic” in early February, 2022, to make sure that the team’s fans were injected, too:

Warriors’ COVID booster requirement goes into effect at SF’s Chase Center

February 2, 2022

https://abc7news.com/chase-center-vaccine-requirements-warriors-boosters-at-games-covid-policy/11536998/

Warriors assistant coach Dejan Milojevic hospitalized after medical emergency at team dinner in Utah

January 17, 2024

https://www.cbssports.com/nba/news/warriors-assistant-coach-dejan-milojevic-dies-at-46-after-suffering-heart-attack-in-utah/

Milojevic died the next day:

Warriors assistant coach Dejan Milojevic dies at 46 after suffering heart attack in Utah

January 18, 2024

https://www.cbssports.com/nba/news/warriors-assistant-coach-dejan-milojevic-dies-at-46-after-suffering-heart-attack-in-utah/

And on that same day, before the team at Newsweek actually looked into it, they called the only rational inference from the assistant coach’s “sudden death” a “conspiracy theory”—since such “journalists” are expected not to cover each day’s news, having properly looked into it, but to echo the official propaganda narrative:

NBA Coach’s Death Sparks COVID-19 Vaccine Conspiracy Theories

January 18, 202

https://www.newsweek.com/dejan-milojevic-death-covid-vaccine-conspiracy-theories-1861894

END

In memory of those who “died suddenly” in the United States and worldwide, January 16-January 22, 2024

Musicians in the US (6), Canada (2), Brazil (2), Germany (2), Poland, Latvia, Greece, S. Africa, Russia, Australia (2); doctors in the US, Canada, Brazil, Czechia, Belarus, Italy, NZ; & more

MARK CRISPIN MILLERJAN 25

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United States:

United States:

https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-44f

News from Underground by Mark Crispin Miller is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Upgrade to paid

Canada:

https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-f3d

Mexico:

Mexico, Cuba, Turks and Caicos, Colombia, Peru, Brazil and Argentina:

https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-b65

Brazil:

United Kingdom and Ireland:

https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-c79

Spain:

France, Bel., Holland, Germany, Austria, Norway, Poland, Latvia, Belarus, Czechia, Serbia, Croatia, Greece, Malta and Spain:

https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-bfd

Italy:

Italy:

https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-06

Morocco, Nigeria, Kenya, Uganda, Ghana, South Africa, Israel, Turkey, Ukraine and Russia:

https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-711

Vietnam:

India, Kyrgyzstan, Uzbekistan, Maldives, Vietnam, China, S. Korea, Japan, Indonesia, Timor-Leste, Australia and New Zealand: h

ttps://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-4e0

India:

Indonesia:

DR PAUL ALEXANDER

Bubbling background whispers, via prominent serious smart people (most medical doctors who treated COVID) that early treatment had its role MAINLY for high-risk persons; antibiotics (ABS) was KEY drug

I am listening, I wish to tap into these minds, having a thesis that early treatment was important, but for only the initial version of what was circulating; thats it; ABS was the critical drug?

DR. PAUL ALEXANDERJAN 24

READ IN APP

Some are whispering that it was only the antibiotics e.g. DOXY etc. with its anti-viral, anti-inflammatory, anti-bacterial properties that played a role in abating severe COVID, high-risk persons etc. likely to develop bacterial pneumonia, sepsis etc. I find fascinating…controversial, yet important to think about this. In other words early treatment was key, anti-infectives important, but early on in this and ‘only’ for a select group…some argue that most did not need anything…that their immune systems and natural immunity etc. would have faced anything successfully….that ABS was the core therapeutic….hhhmmmm….I need to think more on this and talk to some smart folk…

remember, I am sharing this intriguing debate while we have Couey out there and Yeadon who both I respect greatly for their minds and thoughts and their theories (defensible) on what could have or did not happen. Rancourt. Myself too arguing there was never ever a pandemic. That this was all a lie.

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

Subscribed

And of course SAGE busting balls day in, day out….I really like SAGE and some, I say some of their subscribers (the sane ones ha ha ha) for SAGE is smart, hits on the head and brave…I like men or women with balls, churchbell balls…willing to stand up and defend their positions too…

but there may be something to that. I am all for preparation like TWC’s emergency prep kits for the chinese in Canada as an example and US bought every damn thing, not even tylenol you could get. People with disposable income bought everything like hoarding bitches, not thinking others needed anything. I heard one Chinese woman caught on tape arguing with a woman as she had her trolley filled with all the toilet paper and napkins etc. and the lady asked her para ‘so dont you think I would want one pack’ and the bitch told her para ‘well I got the money, so I can buy so I buy, I dont care about you’…

that floored me and fucked me up as to people I lived amongst, and I grew to have a distaste of people, all who think like that…not just Chinese…

so IMO, TWC emergency kit makes sense, like that for you have to be prepared for what the government sends at us and the greedy insane people around us…you just got to be prepared and yes, there was no COVID pandemic and there is no ‘X’ coming, that too will be a fraud. If the government and the malevolents get their way…if the mRNA technology and mRNA vaccine maker peoples get their way…

Emergency Preparedness kit of 8 essential medications to have on hand:

kit seen here:

Link:

https://www.twc.health/products/emergency-preparedness-kit?ref=Paul

Don’t get caught unprepared – keep The Wellness Company’s Medical Emergency Kit in your medicine cabinet!

The Wellness Company’s prescription-only Medical Emergency Kit provides you with a carefully selected assortment of vital medications, preparing you for those unpredictable moments in life. Our kit ensures access to proven treatments like Ivermectin, arming you with confidence in the face of unforeseen medical emergencies.

end

Bell‘s palsy? LIONESS OF JUDAH MINISTRY asks a key question about Dr. Özlem Türeci, a Turkish-German physician, who co-created the first Pfizer COVID mRNA vaccine, who clearly has facial paralysis!

How? This Pfizer BioNTech. Did her own work cause her facial paralysis? Why the silence from medical doctors, the media? She clearly has partial (at least) facial paralysis, Bell’s Palsy, Beiber?

DR. PAUL ALEXANDERJAN 25

READ IN APP

Exposing The Darkness

Paul Joseph Watson: COVID Vaccine Creator Has Facial Paralysis And No One Talks About It

Exposing The Darkness is a reader-supported publication. To support my work, please consider becoming a paid subscriber. One-time or recurring donations can be made through Ko-Fi: By Paul Joseph Watson January 9, 2024 Questions are being asked to why the co-creator of the first Pfizer COVID vaccine seemingly suffers from partial facial paralysis, a side…

4 days ago · 88 likes · 33 comments · Lioness of Judah Ministry

‘Robert Kogon has drawn attention to the manifestly provable observation that Türeci is suffering from partial facial paralysis, or Bell’s Palsy, a fact which is “flagrantly obvious”

‘

”

SLAY NEWS

The latest reports from Slay News

WEF Mastermind: ‘Human Rights Are Fiction, Just Like God’A top World Economic Forum (WEF) official has declared that “human rights are fiction, just like God.”READ MORE

Bill Gates Pushes Ineffective Vaccines, Claims He’s ‘Saving Literally Millions of Lives’Bill Gates is continuing to push ineffective vaccines for public use because the Microsoft co-founder claims he’s “saving literally millions of lives.”READ MORE

Biden’s Democrat Challenger Dean Phillips Praises Trump’s Rally Crowd as ‘Hospitable, Kind’Democrat Presidential candidate Dean Phillips attended President Donald Trump’s rally in New Hampshire and praised the “hospitable, thoughtful, kind people” in the MAGA crowd.READ MORE

Biden Slurs Incoherently While Sending ‘Warning’ to Trump: ‘Don’t Mess with Uhhiminauhwemerica’Democrat President Joe Biden slurred and rambled incoherently while attempting to deliver a warning to his Republican election rival.READ MORE

Doug Burgum Not Running for Reelection as North Dakota Governor North Dakota’s Republican Gov. Doug Burgum has announced that he is not running for reelection to seek a third term as governor.READ MORE

Biden Admin Sued by Mother of Young Woman Murdered by Illegal Alien MS-13 Gang Member The devastated mother of a young Maryland woman, who was brutally murdered by an illegal alien, has filed a lawsuit against Democrat President Joe Biden’s administration over the death of her daughter.READ MORE

Trump’s Former Lawyer Warns: He ‘Absolutely’ Could Be Convicted A former lawyer on President Donald Trump’s legal team warned that there is “absolutely” a possibility that the 45th POTUS will be convicted in one of his criminal cases. READ MORE

Nikki Haley Refuses to Drop Out after Crushing Defeat from Trump in New Hampshire President Donald Trump soared to victory in the first-in-the-nation primary in New Hampshire, crushing his only remaining rival in the race, Nikki Haley.READ MORE

Supreme Court to Consider Appeal in Oklahoma Death Penalty Case after Prosecutorial Misconduct Exposed The U.S. Supreme Court has announced that it accepted a petition to review and potentially overturn the murder conviction of a death row inmate in Oklahoma.READ MORE

Chip Roy Calls on Texas Officials to Ignore SCOTUS Order Allowing Biden Admin to Cut Border Razor Wire: ‘Go to Hell’Republican Rep. Chip Roy (R-TX) has called on officials in his home state of Texas to ignore the recent order from the U.S. Supreme Court.READ MORE

Michelle Obama’s Secret Plot to Replace Biden, Run against Trump Emerges Details have begun to emerge of a secret plot by former First Lady Michelle Obama and the Democrat establishment to replace President Joe Biden ahead of the critical 2024 election.READ MORE

Toyota: Electric Cars Will Never Dominate Market Toyota Chairman Akio Toyoda has declared that electric vehicles (EVs) will never dominate the car market.READ MORE

EVOL NEWS

UK Raises Alarm over Sudden Death Surge: ‘Worst Heart Care Crisis in Living Memory’
READ MORE…

LATEST NEWS:
WEF Demands Crackdown on Public Coffee-Drinking to ‘Fight Climate Change’
Read more…
Chip Roy Calls on Texas Officials to Ignore SCOTUS Order Allowing Biden Admin to Cut Border Razor Wire: ‘Go to Hell’
Read more…
Rick Harrison of ‘Pawn Stars’ Blames Fentanyl ‘Flowing over the Borders’ for Son’s Death
Read more…
Rachel Maddow Warns MSNBC Viewers: Trump Winning Reelection Will Be ‘the End of Politics’
Read more…
Possible Trump Running Mate Dodges VP Question
Read more…
Democrat Congresswoman Kicked Out of Committee Hearing
Read more…

NEWS ADDICT

LATEST REPORTS FOR NEWS JUNKIES

Globalists Plan to Leak Deadly ‘Disease X’ This Year to Install Single World Government Unelected globalists are plotting to release their so-called “Disease X” this year as part of a plan to install a single world government by 2025, experts are warning.READ THE FULL REPORT

Dutch Citizens Turn Against Queen for Pushing CBDC-Linked Digital ID Dutch citizens are pushing back after their queen attended the World Economic Forum (WEF) summit in Davos and promoted CBDC-linked digital IDs that track the general public’s vaccination status.READ THE FULL REPORT

McConnell Admits Trump Has Put Republicans in ‘Quandary,’ Border Politics Has Now ‘Flipped’Donald Trump’s imminent nomination as the Republican Party’s candidate for the President of the United States is paying immediate dividends for the American people. Senate Minority Leader Mitch McConnell (R-KY) reportedly believes the politics of the border crisis has now “flipped,” signaling the Republican Party is poised to draw a much harder line on budget negotiations over issues like border …READ THE FULL REPORT

Red State Governors Stand with Texas in Border Fight with Biden Administration It has begun. Red State Governors are starting to mobilize support behind the State of Texas for standing up to the Biden administration over the border crisis. On Wednesday, Texas Gov. Greg Abbott issued a statement declaring that the state was invoking its constitutional authority to self-defense against the border invasion. My statement on Texas’ constitutional right to self-defense. pic.twitter.com/seNFZdmujP …READ THE FULL REPORT

Texas Democrat Calls for Biden to Seize Control of Texas National Guard Rep. Joaquin Castro (D-Texas) is urging President Biden to take command of the Texas National Guard if the state rejects a Supreme Court decision allowing US Border Patrol personnel to remove border barriers. “Governor Greg Abbott is using the Texas National Guard to obstruct and create chaos at the border. If Abbott is defying yesterday’s Supreme Court ruling, @POTUS needs to establish …READ THE FULL REPORT

MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK

END

7//OIL ISSUES//NATURAL GAS ISSUES//ELECTRICAL GRID ISSUES// RENEWABLE ENERGY ISSUES//USA AND GLOBE

Russia Builds Out Arctic Oil Route As Middle East Tensions Escalate

THURSDAY, JAN 25, 2024 – 12:50 PM

Authored by Simon Watkins via OilPrice.com,

Russian President Vladimir Putin has long seen the development of the country’s Arctic resources as one of its core strategically vital projects.
Russia is looking to keep open the arctic Northern Sea Route all year long.
This year, Russia decided to build another cargo base plus 14 additional terminals along the route from Murmansk to Vladivostok.

This year will see a major push by Russia to ensure that the Northern Sea Route (NSR), which is vital for shipping minerals, oil, and liquefied natural gas (LNG) from its huge Arctic operations, remains fully functional all year round, according to a senior Moscow-based oil analyst exclusively spoken to by OilPrice.com last week. Given the hostile climate in the region, ships have been unable to sail at all during March, April, and May, and have struggled to do so at other times as well. This new impetus comes as Russia faces new sanctions on its energy deliveries following its February 2022 invasion of Ukraine and as escalating tensions around the Red Sea cause increased dangers for shipping through key Middle Eastern routes.

“33 million tonnes of cargo was moved in 2021, 34 million [tonnes] in 2022, and just over 36 million [tonnes] last year,” said the Moscow-based analyst.

“Rosatom [the Rosatom State Nuclear Energy Corporation, which manages a fleet of nuclear-powered icebreakers, among other things] and Novatek [Russia’s second-largest gas producer and spearheading its Arctic LNG developments] have told the Far East and Arctic Development Ministry that they can support an increase to 100 million tonnes by 2026 and 200 million tonnes [or cargo] by 2030,” he added.

Russian President Vladimir Putin has long seen the development of the country’s Arctic resources as one of its core strategically vital projects, as analysed in full in my new book on the new global oil market order.

One reason for this is the sheer size of its gas and oil reserves there, estimated at around 35.7 trillion cubic metres (tcm) of gas and over 2.3 billion metric tons of oil and condensate.

The majority of these are located in the Yamal and Gydan peninsulas, lying on the south side of the Kara Sea. An adjunct to this is that much of its gas resources there have been earmarked for a major advance in the country’s LNG output, as Putin has also long believed that Russia’s presence in that market does not reflect its enormous presence in the broader world gas and oil market. Since Russia’s 2022 invasion of Ukraine, LNG has also become the ‘swing emergency gas’ product for many major economies, given sanctions imposed on its natural gas and oil exports. LNG is readily available in the spot markets and can be moved very quickly to anywhere required, unlike gas or oil sent through pipelines. Unlike pipelined energy as well, the movement of LNG does not require the build-out of vast acreage of pipelines across varying terrains and the associated heavy infrastructure that supports it.

Another reason why Russia’s Arctic oil and gas reserves are so important to Putin is that they can be seamlessly delivered to China through the NSR.

It is true that over the past 30 years, there has been a turnaround in the power relationship between the two former great Communist powers, with Beijing now the more dominant partner. Crucially, though, it is also true that Russia’s enormous oil and gas reserves still give it some leverage with China. Its oil and gas flows into the country mean that Moscow can continue to count on the military and political force-multiplier effect of China as a major presence in the Asia Pacific theatre of potential conflict, if not directly in the European one. In precisely this vein, around the same time as the invasion of Ukraine, Russian state gas giant Gazprom signed a deal to supply 10 billion cubic metre per year (bcm/y) of gas to the China National Petroleum Corporation (CNPC). This built on another 30-year deal between the two companies signed in 2014 for 38 bcm/y and this in turn was a part of, but significantly bolstered, the ‘Power of Siberia’ pipeline project – managed on the Russian side by Gazprom and on the China side by CNPC – that was launched in December 2019. Given Russia’s poor performance in the Ukraine war to date, the force multiplier effect of Moscow’s relationship with Beijing has never been more important to it. Aside from remaining a menacing presence in the background, China’s technology and expertise has made possible the array of weaponry that has been supplied to Russia from Iran for use in Ukraine. Beijing’s hold over Iran was firmly established in the all-encompassing ‘Iran-China 25-Year Comprehensive Cooperation Agreement’, as first revealed anywhere in the world in my 3 September 2019 article on the subject and analysed in full in my new book on the new global oil market order.

A final key reason at play in Russia’s Arctic gas and oil drive is its capacity to subvert the U.S. dollar-based hegemony in the energy market, as also analysed in my new book, particularly as it features one of the world’s biggest oil and gas producers and one of its biggest buyers.

Very early in the Arctic LNG projects’ history, Novatek’s chief executive officer, Leonid Mikhleson, said that future sales to China denominated in renminbi were under consideration. This was in line with his comments on the prospect of further U.S. sanctions – following Russia’s annexation of Crimea in 2014 – that they would only accelerate the process of Russia trying to switch away from U.S. dollar-centric oil and gas trading.

“This has been discussed for a while with Russia’s largest trading partners such as India and China, and even Arab countries are starting to think about it… If they do create difficulties for our Russian banks then all we have to do is replace dollars,” he said.

Such a strategy was tested in 2014, when the state-run Gazprom Neft tried trading of cargoes of crude oil in Chinese yuan and roubles with China and Europe, to reduce Russia’s dependence on crude trading in dollars, in response to the initial Western sanctions against Russia’s energy sector.

As it stands, according to the Moscow-based oil analyst, at a meeting last May between Putin and several key figures connected to the development of the NSR, it was decided that new developments would include the building of another cargo base plus 14 additional terminals along the route from Murmansk to Vladivostok, the creation of a new satellite network connected with the NSR (allowing for near real-time ice monitoring), centralising ship navigation control with Rosatom, and expanding the fleet of tankers and ice-breakers. At the same time, Russia is forging ahead with its Arctic LNG projects, the most recent notable development of which is Arctic LNG 2. This aims for three LNG trains (manufacturing facilities) of 6.6 million metric tonnes per annum (mmtpa) each, based around the gas resources of the Utrenneye field, which has at least 1,138 billion cubic metres of natural gas and 57 million tons of liquids in reserves. The first train was successfully delivered last August on the western shore of the Gydan Peninsula in West Siberia. The second and third trains are expected online this year and in 2026, respectively.

The project is also emblematic of Putin’s attempts to make Russia’s Arctic LNG projects as ‘sanction-proof’ as possible, as also analysed in my new book on the new global oil market order. This meant Russian company Novatek – the key developer of Yamal LNG (and the later Arctic LNG 2) – becoming as self-sufficient as possible in this regard. Consequently, Novatek aimed to localise the fabrication and construction of LNG trains and modules to decrease the overall cost of liquefaction and develop a technological base within Russia, and it made great progress in realising this. As part of this objective, Novatek developed the ‘Arctic Cascade’ process for creating LNG. This is based on a two-stage liquefaction process that capitalises on the colder ambient temperature in the Arctic climate to maximise energy efficiency during the liquefaction process and was the first patented liquefaction technology using equipment produced only by Russian manufacturers.

Having said this, moves are afoot from the U.S. to roll out further sanctions aimed at undermining Russia’s Arctic LNG ambitions, partly through blocking sales of technology still needed by Novatek and others, and partly by blocking sales of Russian LNG in full.

8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//

CANADA//TUCKER CARLSON/DANIELLE SMITH

Tucker Carlson Warns Canadians of ‘Destruction of You and Your Culture’

The American media personality and former Fox News host shared the stage with Alberta Premier

Danielle Smith

. Tucker Carlson Warns Canadians of ‘Destruction of You and Your Culture’ American media personality Tucker Carlson speaks at the Calgary TELUS Convention Centre on Jan. 24, 2024. (Omid Ghoreishi/The Epoch Times)

By Omid Ghoreishi

CALGARY—If Canadians want to see change, they shouldn’t wait for politicians or elections, but start with changing themselves, American media personality Tucker Carlson said at an event in Calgary on Jan. 24.

“The first thing that you need to do before changing anything in your country, is to change everything about your heart,” he told a sold-out audience of 4,000 at the Calgary TELUS Convention Centre.

Mr. Carlson, who also warned Canadians about forces seeking to destroy their culture, said it’s concerning that civil liberties, which he said have been granted by God, not the Crown, have been eroded in Canada.

“You need to change inside. Your attitude needs to change, and your timidity needs to be replaced by bravery.”

The political commentator and former Fox News host shared the stage with Alberta Premier Danielle Smith, high-profile clinical psychologist and speaker Jordan Peterson, and entrepreneur Brett Wilson, who acted as host for one segment of the show.

Responding to Mr. Carlson’s questions, Ms. Smith decried federal regulations targeting the energy sector and noted the need for conservatives to have more presence in key institutions

“One of the things that I’ve noticed here as conservatives is that we have vacated all of the opinion-shaping institutions in society,” she said, listing universities and the media as examples.

“Universities—Dr. Peterson speaks of this very well—are almost uniformly of an ideology that penalizes kids, quite frankly, if they want to write a paper about conservatism.”

The event was warmly received by the audience, which gave several standing ovations, including when each speaker came onstage.

Mr. Carlson held a second event in Edmonton on the same day, this one featuring media mogul and Epoch Times columnist Conrad Black.

Canada Connection

During his talk in Calgary, Mr. Carlson spoke of his connections to Canada, saying he is part Canadian because his forefathers settled in Nova Scotia before moving to the United States.

“I think Canada is the prettiest country in the world,” he said.

But he listed a number of issues that he said are substantial problems in the country.

One major issue, he said, is the Canadian federal and provincial governments’ drug policies, such as legalization of marijuana and the recent initiative by B.C. to give fentanyl to youth as part of its “safer supply” program.

“They’re trying to kill your children, which are your inheritance, so the only meaningful thing you will ever produce on earth,” he said.

<img

src=”https://ci3.googleusercontent.com/meips/ADKq_Nbzi0zhckAh0PevqJ7MY1PyXdgJqbzeZ8NScVJnYsMFt9tXfj1n75IoVvg-doeTTFsZwJ4cj4-FZz0fB95OFbQLuFs4Q6sWCa49m2J-KQCw5LHcIGuomye7E9-A5N8BmxytqAyk_M7DMVru3R7rVrgEnIoXEZjZp4qLo-pzBoHo-QvutpBf0eWcZ7uWXuGY5TztO_Wh6Xv6ktnE8yc7aB9tMLvse6wR_48gDzWbPqK9qj4ii1vvdH1KZ0I=s0-d-e1-ft#https://www.theepochtimes.com/_next/image?url=https%3A%2F%2Fimg.theepochtimes.com%2Fassets%2Fuploads%2F2024%2F01%2F25%2Fid5573514-rrIMG_8946-600×374.jpg&w=1200&q=75″ alt=”(L–R)

Entrepreneur Brett Wilson, American media personality Tucker Carlson, and clinical psychologist Jordan Peterson speak at the Calgary TELUS Convention Centre on Jan. 24, 2024. (Omid Ghoreishi/The Epoch Times)” width=”600″ height=”374″>(L–R) Entrepreneur Brett Wilson, American media personality Tucker Carlson, and clinical psychologist Jordan Peterson speak at the Calgary TELUS Convention Centre on Jan. 24, 2024. (Omid Ghoreishi/The Epoch Times)

Mr. Carlson also raised concerns about Canada’s law on medical assistance in dying (MAID), one of the most liberalized in the world. He said that in essence, the government is “encouraging [those using MAID] to submit to being killed by the government.”

When it comes to immigration, he said if admissions are granted for economic development and policies are well articulated with reason, he’s open-minded, but unabated immigration is changing the make-up of Canada.

“I don’t care if you’re taking the population of Stockholm and moving them into Canada. If you change the population of the country, you change the country,” he said. “And you dilute the voting power of the people who are invested in that country.”

Mr. Carlson said Canada is known for its politeness, and “everyone feels morally bound to take everyone else’s point of view very seriously.”

But some perspectives, in fact, “aren’t perspectives,” he said.

“You should recognize what is happening to you. This is not a political debate to which you’ve been invited to participate. This is a destruction of you and your culture and your beliefs and your children and your future.”

Mr. Carlson added that he’s concerned about the targeting of Christians, saying the country should embrace upstanding citizens who promote positive values such as forgiveness.

Making references to recent church-burnings in Canada and religious leaders who were taken into custody due to COVID restrictions during the pandemic, he condemned Canadian politicians’ posturing regarding these issues.

“If you think that preaching the Gospel is so dangerous that the people who do it need to be in prison in shackles, you’re serving someone other than the people of Canada, if you know what I mean,” he said.

Smith Firm on Oil Production

During her talk with Mr. Carlson, Ms. Smith said she would literally “double down” on developing her province’s oil and gas sector despite pressure from the federal government.

Alberta Premier Danielle Smith speaks at the Calgary TELUS Convention Centre on Jan. 24, 2024. (Omid Ghoreishi/The Epoch Times)

“We’re going to double our oil and gas production,” she said. “I think that we can do a lot to make sure that the Americans know that we are here to provide energy security. We are a great friend, a great ally, a great neighbour.”

She also referred to the recent electricity crisis amid record-cold temperatures in Alberta, saying the push to supply the province’s electrical needs entirely from renewables isn’t realistic.

“You need to have more baseload power and more natural gas,” she said.

Ms. Smith’s government has invoked the province’s newly passed Sovereignty Act in opposition to the federal government’s net-zero electricity deadline of 2035.

In talking about the alienation of conservatism in today’s world, Ms. Smith said that increased urbanization is resulting in a disconnect from many realities.

“Hollywood is terrible when it comes to the messages and how they portray conservatives and how they portray capitalism. And I think as well, we have increasingly become urbanized,” she said.

“When you get disconnected from the land, disconnected from something real, disconnected from the dirty jobs, then do you understand that when you turn the lights on, they only work because of everything that is happening in the rural area?”

Mr. Carlson also asked about the “Coutts Four,” the four men charged with conspiracy to commit murder in connection with the 2022 border blockade at Coutts, Alta. The men have been in jail for over 710 days without bail, which civil liberties groups as well as Mr. Carlson say is a violation of their rights.

Ms. Smith didn’t comment on the issue directly, saying that as premier she can’t get involved in judicial matters.

But she talked about the importance of freedom and the dangers of government overreach.

“I’m not proud of our country for having frozen bank accounts. I am not proud of our country for having jailed pastors,” Ms. Smith said. “I’m not proud of our country for the fact that we still have people languishing in jail for, going on two years.”

Working-Class Citizens

Commenting on the 2022 Freedom Convoy protest, Mr. Peterson said the protest was part of a broader movement of working-class people, not only in Canada but around the world, noting the recent farmer demonstrations in Germany, France, and Spain.

“Part of the reason that it is happening is because working-class people, in their implicit wisdom, have decided that they’re not the problem that faces the planet, but the solution,” he said.

He also pointed to the recent ruling by a Federal Court judge that the government’s use of the Emergencies Act to clear the convoy protest in Ottawa wasn’t justified.

“More power to the truckers. I think they handled that demonstration impeccably. They timed it brilliantly. They left at the right time. They did nothing but good,” he said.

When it comes to Alberta, Mr. Peterson said that the province has been blessed with abundant resources that Albertans have a responsibility to develop.

“If you steward those resources properly, you could help Canada move towards an almost inconceivable abundance and do the same thing around the world,” he said.

“If you’re given a gift and you don’t shepherd it wisely, and you don’t take responsibility for it, and you’re not grateful for its provision, that will destroy you.

end

ROBERT H TO US:

Judge Rules Trudeau Violated Charter By Invoking Emergencies Act | Armstrong Economics

Sadly, this a wake up call to all Canadians to fight for what the Canada of old stood for in the hearts and minds of Canadians and all those external parties who admired Canada. Clearly the Trudeau crowd cares not for Canada nor its citizens. And the naked abuse of the privilege of serving on the behalf of citizens no longer exists.
The Trudeau bunch is ruining the lives of all Canadians. What remains to be seen is what Canadians do going forward. Because there can be no trust in such governance. And no doubt the fate of the dollar value of Canada in the eyes of Investors abroad. This comes at a time when Banks are contracting lending not just to individuals but to all industry segments.

Judge Rules Trudeau Violated Charter by Invoking Emergencies Act

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

EURO VS USA DOLLAR: 1.0887 UP .0006

USA/ YEN 147.66 UP .074 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2724 UP .0006

USA/CAN DOLLAR: 1.3513 DOWN .0012 (CDN DOLLAR UP 12 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED UP 85.34 PTS OR 3.03%

Hang Seng CLOSED UP 312.09 PTS OR 1.96%

AUSTRALIA CLOSED UP 0.48% // EUROPEAN BOURSE: ALL RED

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL RED

2/ CHINESE BOURSES / :Hang SENG UP 312.09 PTS OR 1.96%

/SHANGHAI CLOSED UP 85.34 PTS OR 3.03%

AUSTRALIA BOURSE CLOSED UP 0.48%

(Nikkei (Japan) CLOSED UP 9.99 OR 0.03%

INDIA’S SENSEX IN THE RED

Gold very early morning trading: 2014.65

silver:$22.82

USA dollar index early THURSDAY morning: 103.06 UP 2 BASIS POINTS FROM WEDNESDAY’s CLOSE.

THURSDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing THURSDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.995% DOWN 5 in basis point(s) yield

JAPANESE BOND YIELD: +0.742% DOWN 3 AND 3//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.191 DOWN 6 in basis points yield

ITALIAN 10 YR BOND YIELD 3.816 DOWN 7 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.2845 DOWN 5 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR WEDNESDAY

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

Euro/USA 1.0832 DOWN 0.0049 or 49 basis points

USA/Japan: 147.56 DOWN 0.027 OR YEN UP 3 basis points/

Great Britain/USA 1.2698 DOWN .0019 OR 19 BASIS POINTS //

Canadian dollar UP .0024 OR 24 BASIS pts to 1.3501

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed ON SHORE CLOSED (DOWN) …7.1698

THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.1815)

TURKISH LIRA: 30.28 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.742…

Your closing 10 yr US bond yield DOWN 4 in basis points from WEDNESDAY at 4.135% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.368 DOWN 5 in basis points /12.00 PM

USA 2 YR BOND YIELD: 4.322 DOWN 6 BASIS PTS.

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

London: CLOSED UP 5.64 PTS OR 0.07%

German Dax : CLOSED UP 22.33 PTS OR 0.13%

Paris CAC CLOSED UP 5.94 PTS OR 0.08%

Spain IBEX CLOSED DOWN 62.30 PTS OR 0.62%

Italian MIB: CLOSED DOWN 174.57 PTS OR 0.58%

WTI Oil price 76.11 12: EST

Brent Oil: 81.17 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 88.95; ROUBLE DOWN 0 AND 34//100

GERMAN 10 YR BOND YIELD; +2.2845 DOWN 5 BASIS PTS

UK 10 YR YIELD: 4.029 DOWN 2 BASIS POINTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0840 DOWN .0041 OR 41 BASIS POINTS

British Pound: 1.2704 DOWN .0013 or 13 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.022 DOWN 1 BASIS PTS//

JAPAN 10 YR YIELD: 0.742%

USA dollar vs Japanese Yen: 147.73 UP 0.146//YEN DOWN 15 BASIS PTS//

USA dollar vs Canadian dollar: 1.3476 DOWN 0.0049 CDN dollar UP 49 basis pts)

West Texas intermediate oil: 77.26

Brent OIL: 82.40

USA 10 yr bond yield DOWN 5 BASIS pts to 4.128%

USA 30 yr bond yield DOWN 4 BASIS PTS to 4.373%

USA 2 YR BOND: DOWN 6 PTS AT 4.314%

USA dollar index: 103.07 DOWN 33 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 30.25 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 88.89 DOWN 0 AND 29/100 roubles

GOLD 2018.78 3:30 PM

SILVER: 22.89 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 249.76 PTS OR 0.66%

NASDAQ UP 17.69 PTS OR 0.10%

VOLATILITY INDEX: 13.48 UP .34 PTS OR 2.59%

GLD: $187,14 UP 0.74 OR 0.40%

SLV/ $20.94 UP ,23 OR 0.14%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM:

Bonds & Black Gold Bid, Big-Tech Skids As ‘No Landing’ Narrative Gores Goldilocks

THURSDAY, JAN 25, 2024 – 04:00 PM

Strong GDP growth (but cool inflation), strong new home sales (but cool home prices), strong labor market data (jobless claim rose but remain near multi-decade lows) all set the tone for the day as traders ignored weak National Activity data from The Chicago Fed, weak manufacturing data from The Kansas City Fed, and weak headline durable goods orders.

But, the macro surprise index is accelerating right when it is expected to as the lagged impact of the massive easing of financial conditions floods into the economy…

Source: Bloomberg

Additionally, a massive $81BN of liquidity was pulled out of The Fed’s Reverse Repo facility today (after the surge in bill issuance), making a total of $460BN withdrawn from the facility in January so far – on track for by far the biggest monthly decline ever. (HARVEY: THIS IS HUGE)

Source: Bloomberg

Interestingly, amid all that, STIRs shifted dovishly – with the odds of a March cut rising modestly and the size of 2024 cuts rising (perhaps ahead of tomorrow’s pivotal Core PCE print)…

Source: Bloomberg

Treasuries were bid across the entire curve with the short-end outperforming on the day (3Y -7bps, 30Y -3bps), leaving just the long-end still higher in yield on the week…

Source: Bloomberg

The yield curve bull-steepened today, with 2s30s jumping to +7bps – its ‘steepest/uninverted’ since July 2022…

Source: Bloomberg

Nasdaq lagged on the day – thanks in large part to TSLA – as Small Caps outperformed. Everything closed green (even Nasdaq)… with a late-day meltup ahead of Core PCE…

This is the 5th record daily close in a row for the S&P 500

TSLA’s tumbled over 12% for its worst day since 2020 to its lowest since May 2023…

TSLA weighed down The Magnificent 7 today, erasing most of yesterday’s meetings…

Vol is extremely low ahead of tomorrow’s Core PCE print (and next week’s NFP), but the term structure does recognize it…

Source: Bloomberg

The dollar rallied during the US session, recovering from overnight selling pressure…

Source: Bloomberg

Bitcoin went sideways again today hovering around $40,000…

Source: Bloomberg

…as GBTC outflows shrank again…

Gold went sideways today, testing up to $2025 intraday before fading back…

Source: Bloomberg

Oil prices well and truly broke out of their recent rangebound trading bracket with WTI ripping up to almost $78 – its highest since 11/30 (when OPEC+ failed to impress with its announcement of additional – voluntary – production cuts…

Source: Bloomberg

WTI tested all the way up to its 200DMA today…

Source: Bloomberg

Finally, as Goldman’s Lee Coppersmith noted today, the dichotomy between the first half of February and the second half from a seasonal perspective is dramatic to say the least…

For those worried about any froth in the US markets, the last two weeks in February are historically the worst 2 weeks of the year.

Given how well markets followed the historical analog last year, it’s something to have on the radar.

END

MORNING TRADING//

end

AFTERNOON TRADING

II USA DATA

This was fabricated!

(zerohedge)

Q4 GDP Unexpectedly Soars, Driven By Lack Of Destocking And An RV Spending Spree

THURSDAY, JAN 25, 2024 – 09:21 AM

With economists and Wall Street strategists confident that in the fourth quarter US growth would slow sharply after the inventory accumulation-driven Q3 surge which saw the economy explode by 4.9% (down from a 5.2% initial print), moments ago Biden’s Bureau of Economic Analysis once again shocked everyone when it reported that in Q4, the US economy actually grew by 3.3% (3.280% to be precise)…

… which was not only almost double the median estimate of 2.0%, not only above the highest Wall Street estimate of 2.5%, but it was a 5-sigma beat to expectations!

So how can literally everyone on Wall Street be this wrong, and what the hell was Biden’s BEA cooking?

Well, according to the official report, “the increase in the fourth quarter primarily reflected increases in consumer spending and exports. Imports, which are a subtraction in the calculation of GDP, increased.” Reading down the report we find the following:

The increase in consumer spending reflected increases in both services and goods. Within services, the leading contributors were food services and accommodations as well as health care. Within goods, the leading contributors to the increase were other nondurable goods (led by pharmaceutical products) as well as recreational goods and vehicles.

Keep that last in mind for a minute, we’ll revisit it shortly: Finally, “the increase in exports reflected increases in both goods (led by petroleum) and services (led by financial services).”

That said, Q4 GDP was below Q3, and according to the BEA, the “deceleration in GDP in the fourth quarter primarily reflected slowdowns in inventory investment, federal government spending, housing investment, and consumer
spending. Imports decelerated.”

A more granular analysis reveals the following details:

Personal consumption contributed 1.91%, more than half of the 3.280%. On an annualized basis, this amounted to a 2.8% increase, better than the 2.5% expected, but down from 3.1% last quarter.
Fixed Investment also dipped, adding 0.31% to the bottom line number, down from 0.46% in Q3
The change in private inventories was flat, contribuing 0.07% of the bottom line number, and denying expectations of a decline due to Q4 destocking after last quarter’s 1.27% inventory change surge.
Also in the unexpected column was the contribution from net exports, which added 0.43% to the bottom line number, up from 0.03% last quarter, as exports supposedly surged despite the sharp jump in the dollar in Q4.
Finally, government contributed another 0.56% of the bottom line number, which while down from 0.99% in Q3, has continued a bizarre series where government remains one of the largest GDP contributors.

And visually:

Turning to the all important consumption, we can’t help but smile when noticing that the BEA is again resorting to such favorite GDP-boosting gimmicks of the old Obama administration as spending on healthcare and… RVs! The two contributed to roughly half the growth in consumer spending in the fourth quarter.

Hilarious RV spending spree aside (although in Biden’s economy nobody can afford a house so it does make sense), some of the beat was also a function of a lower-than-expected deflator, which also impacted the unexpected positive contribution from exports which, again, made no sense in light of the much stronger dollar.

Turning to the inflation components, core PCE inflation was in line, which is what matters for the Fed, however this number was stale and we will get a more accurate, monthly not quarterly, print tomorrow. Specifically, Personal consumption expenditures (PCE) prices increased 1.7% in the fourth quarter after increasing 2.6% in the third quarter. Excluding food and energy, the PCE “core” price index increased 2.0%, the same increase as in the third quarter, and in line with estimates.

Finally, real disposable personal income (DPI) – personal income adjusted for taxes and inflation -increased 2.5% in the fourth quarter after increasing 0.3% in the third quarter. Current-dollar DPI increased 4.2% in the fourth quarter, following an increase of 2.9% in the third quarter. The increase in the fourth quarter reflected increases in compensation, personal income receipts on assets, and proprietors’ income that were partly offset by a decrease in personal current transfer receipts.

One can also argue that much of the spending came from the continued drain of savings, and one would be right: personal savings as a percentage of DPI was 4.0% in the fourth quarter, compared with 4.2% in the third quarter. This number will keep dropping.

Overall, as Bloomberg concludes, one can argue that the GDP figure was fairly neutral for markets, as private domestic demand was largely in line with forecasts, as was core inflation.

end

This is a hard data report: Chicago’s National economic activity, a very important report shows activity unexpectedly declined in December.

(zerohedge)

National Economic Activity Unexpectedly Declined In December; Chicago Fed Index Shows

THURSDAY, JAN 25, 2024 – 09:02 AM

Against expectations of a small rise from 0.03 to 0.06, The Chicago Fed’s National Activity Index (which draws on 85 economic indicators) tumbled to -0.15 in December. 2023 ends with 8 of the 12 months in negative territory…

Source: Bloomberg

Under the hood, 48 of the 85 inputs made a negative contribution with all major subcategories weaker MoM and only personal consumption barely above zero…

Production and Income -0.06
Employment -0.06
Personal Consumption +0.01
Sales & Orders -0.04

CFNAI’s Diffusion Index remains significantly weak…

This indicates below-trend-growth in the national economy and a sign of easing pressures on future inflation

END

Do not pay much attention to these fudged data entries

(zerohedge)

Initial Jobless Claims Bounce Back To 1-Month-Highs (From Near 54-Year Lows)

BY TYLER DURDEN

THURSDAY, JAN 25, 2024 – 08:36 AM

After crashing near its lowest level in 54 years in the prior week, initial jobless claims jumped higher last week (from an upwardly revised 189k to 214k). Non-seasonally-adjusted claims tumbled…

Source: Bloomberg

Texas, California, and New York saw the biggest declines in NSA initial claims last week whole Wisconsin and Washington saw small increases…

Continuing claims also rose (from 1.806mm to 1.833mm) last week

Source: Bloomberg

How does any of that justify a March rate-cut (or 6 cuts this year)?

TUCKER CARLSON..

Rand Paul Rages ‘Half The GOP Wants To Sell Out The US Border To Fund Ukraine War’

BY TYLER DURDEN

WEDNESDAY, JAN 24, 2024 – 11:00 PM

Authored by Steve Watson via Modernity.news,

During an interview with Tucker Carlson on X, Senator Rand Paul expressed anger at his own party, declaring that half of them would rather fund a war in Ukraine than secure their own border.

“It gets to me when I see people who I think care more about the borders of Ukraine than our own Southern border,” Paul stated adding “And I see these people every day because they are the entire Democrat caucus up here, but they are half of my caucus.”

He continued, “Half of my Republican caucus is, as we speak, ready to sell out, and they’re ready to sell out fake border reform in exchange for what they really want, which is to send more of your tax dollars to Ukraine.”

“I think Nikki Haley fits right in that camp,” Paul further urged, adding “I think she’s from the McConnell/Dick Cheney wing of the party. And this is the antithesis of everything I believe in.”

“I’ve spent a few years trying to promote the ideas of liberty, there is a wing of the party that believes in that,” Paul further noted, adding “I want to make sure anybody who follows what I do knows there is no way, shape, or form I could support Nikki Haley.”

Watch:https://www.zerohedge.com/political/rand-paul-rages-half-gop-wants-sell-out-us-border-fund-ukraine-war

Paul has set up an entire website dedicated to derailing Haley’s campaign, but he is yet to officially endorse Trump as of time of writing. This will likely change following Trump’s decisive New Hampshire primary win in the face of Democrat shenanigans.

Democrats Vote For Haley In Desperate Attempt To Derail Trump

Meanwhile, Biden’s handlers are now openly admitting they want the border completely open:

https://www.zerohedge.com/political/rand-paul-rages-half-gop-wants-sell-out-us-border-fund-ukraine-war

https://www.zerohedge.com/political/rand-paul-rages-half-gop-wants-sell-out-us-border-fund-ukraine-wa

https://www.zerohedge.com/political/rand-paul-rages-half-gop-wants-sell-out-us-border-fund-ukraine-war

end

III USA ECONOMIC COMMENTARIES

We have been highlighting this very important topic for the past two months. Yesterday the Fed unexpectedly killed the “free money bailout fund” arbitrage scheme ending BTFP. Now we are heading for March 11 when the banks in trouble must go to the Fed’s window and RRP money goes to zero. This is when the entire financial scheme implodes

(zerohedge)

Fed Unexpectedly Kills Bank “Free Money” Bailout-Fund Arbitrage Scheme As It Ends BTFP Program

WEDNESDAY, JAN 24, 2024 – 08:00 PM

The arbitrage of The Fed’s various balance sheet facilities – which we have exposed in detail for weeks – first appeared after The Fed’s November 1st meeting made it clear that peak-rates were in (and the Treasury announced a lower than expected refunding plan). That was when the market started to price in lower rates in the year ahead, dragging the one-year overnight index swap rate lower (which The Fed’s Bank Term Funding Program – BTFP) is predicated on.

As we explained before, a completely perfect and riskless ‘free money’ arbitrage was available to those banks who could lodge collateral with The Fed at its BTFP facility receiving cash at par (at a cost of OIS+10bps) and then post that cash earning Fed Funds rate on it, pocketing the difference.

The difference – at its peak – amounted to over 60bps of free money from you, Mr. and Mrs.Taxpayer (implicitly), to the bankers for doing absolutely nothing at all.

Since the arbitrage became worthwhile – really the start of December – bankers have been able to throw $47.6BN at this arbitrage (we are assuming most the incremental rise in the BTFP was arb-driven since it had been only very incrementally drifting higher for months before)…

With the program due to expire in March, this free-money arb made it extremely hard for The Fed to extend this program (with $162BN in bailout fund usage outstanding, transferring tens of millions in funds directly to banks):

“In justifying the generous terms of the original program, the Fed cited the ‘unusual and exigent’ market conditions facing the banking industry following last spring’s deposit runs,” Wrightson ICAP economist Lou Crandall wrote in a note to clients.

“It would be difficult to defend a renewal in today’s more normal environment.”

Which leads us to today, when with just two months until the March threat looming, the Fed has changed the terms on the BTFP to kill the free-money arb.

“…the interest rate applicable to new BTFP loans has been adjusted such that the rate on new loans extended from now through program expiration will be no lower than the interest rate on reserve balances in effect on the day the loan is made.

This rate adjustment ensures that the BTFP continues to support the goals of the program in the current interest rate environment. This change is effective immediately. All other terms of the program are unchanged.”

This out of the blue decision comes just a week after regulators were readying themselves for the end of the facility by attempting to de-stigmatize the use of the discount window. This expanded on earlier plans that we detailed here to reduce banks’ ability to use FHLB as an implicit funding tool.

It goes without saying that the optics of being arbitraged by bankers – giving them free money for even less than they normally do – is terrible, but it’s been going on for two months and $47BN. As a reminder, the regional banks are already deep in crisis without the BTFP (as the red line in the chart below shows), and large bank cash needs a home – green line – like picking up a small bank from the FDIC?

But wait there’s more: because not only is the Fed immediately ending the BTFP arb, it has made clear that the entire BTFP program is being scrapped on March 11, just as we said it will be as one of our preconditions for a very exciting March:

1. Reverse repo ends

2. BTFP expires

3. Fed cuts (allegedly)

4. QT ends (allegedly)

This is what the Fed said: “The Federal Reserve Board on Wednesday announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11. The program will continue to make loans until that time and is available as an additional source of liquidity for eligible institutions.”

And just as we predicted a few days ago when reporting on the Fed’s sudden infatuation with the discount window…

*US PLANS TO PUSH MORE BANKS TO USE THE FED’S DISCOUNT WINDOW

translation: many more banks will HAVE to use the discount window… right after the BTFP expires

… the Fed is now saying that all liquidity needs going forward will be met by the discount window (the same one that precipitated the global financial crisis back in 2008).

During a period of stress last spring, the Bank Term Funding Program helped assure the stability of the banking system and provide support for the economy. After March 11, banks and other depository institutions will continue to have ready access to the discount window to meet liquidity needs.

And that March expiration of the facility lines up with another potential crisis moment for the banking system – The Fed’s Reverse Repo facility being drawn down to zero – at which point reserves get yanked which means huge deposit flight, and a restart of the banking crisis, more liquidity injections, rate cuts, end of QT and so on.

We leave with one question – who could have seen this coming?

March will be lit:

1. Reverse repo ends

2. BTFP expires

3. Fed cuts (allegedly)

4. QT ends (allegedly)

END

Tech layoffs increasing: now Microsoft to fire 1900 gaming tech workers

(zerohedge)

Microsoft To Fire 1,900 Workers Across Gaming As Its Market Cap Hits $3 Trillion

THURSDAY, JAN 25, 2024 – 10:40 AM

Microsoft, which is hitting a daily all time high every day now because supposedly everyone will be using some AI version of MS Office (right before they are laid off thanks to, well, AI) and just surpassed a $3 trillion market cap, announced it would lay off 1,900 people across its video-game divisions including at Activision Blizzard (maker of such iconic games as Call of Duty, World of Warcraft and Diablo), which it purchased for $69 billion in an acquisition that closed late last year, and which was supposed to be the source of growth before MSFT realized that OpenAI (which is neither open, nor is its woke chatbot actually AI) is a far more golden goose. Some are wondering if MSFT bought the game maker just to lay off most of its staff (spoiler alert: yes).

According to Bloomberg, in an email to staff, Microsoft gaming chief Phil Spencer wrote that the cuts represented about 8% of Microsoft’s 22,000 gaming workers. Other video-game companies, including Riot Games, have also enacted mass layoffs.

“Together, we’ve set priorities, identified areas of overlap, and ensured that we’re all aligned on the best opportunities for growth,” Spencer wrote.

The cuts arrive just three months after Microsoft finalized the Activision Blizzard acquisition. In an email to staff reviewed by Bloomberg, Activision Publishing chief Rob Kostich wrote that the cuts were made “to reset and re-align our resources for the future.”

Meanwhile, as the BLS reports continued growth month after month, here a snapshot of some of the more notable tech layoffs in just the past few months:

IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM

END

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

END

SWAMP STORIES

Texas Defies ‘Lawless’ Biden, Invokes Right To Self-Defense From ‘Invasion’ With More Razor Wire

BY TYLER DURDEN

WEDNESDAY, JAN 24, 2024 – 06:40 PM

Texas Governor Greg Abbott just drew a hard line in the sand, putting the Biden administration on notice that he’s declared the migrant crisis an “invasion” and invoked Texas’s constitutional authority to defend and protect itself.

According to Abbott, “That authority is the supreme law of the land and supersedes any federal statutes to the contrary. The Texas National Guard, the Texas Department of Public Safety, and other Texas personnel are acting on that authority, as well as state law, to secure the Texas border.”

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=1750277175905783960&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fpolitical%2Ftexas-defies-lawless-biden-invokes-right-self-defense-invasion-more-razor-wire&sessionId=f6dbd75a1d43c09f7890c86790eb6699e1f2b0e1&siteScreenName=zerohedge&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px

The situation in Texas has come to a boiling point at Eagle Pass, where the Texas National Guard have taken control of a local park which illegal immigrants use as a landing zone after crossing the Rio Grande. The state has placed razor wire along miles of the river to block entry to the US – which the Supreme Court just allowed the Biden administration to remove while a legal battle plays out in a lower court.

At the White House, National Security Council spokesman John Kirby said Mr. Biden has the authority to nationalize the Texas National Guard and order them to desist. But he said Mr. Biden has made no such determination.

The high court’s ruling was 5-4, with Chief Justice John G. Roberts Jr. and Justice Amy Coney Barrett joining the three Democratic appointees in erasing a lower court injunction that had blocked the feds from cutting wire except in emergency cases. –Washington Times

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1750251885783879831&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fpolitical%2Ftexas-defies-lawless-biden-invokes-right-self-defense-invasion-more-razor-wire&sessionId=f6dbd75a1d43c09f7890c86790eb6699e1f2b0e1&siteScreenName=zerohedge&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px

Meanwhile, Abbott has continued to install razor wire around the migrant-engulfed area.

“Texas’ razor wire is an effective deterrent against the illegal border crossings encouraged by Biden’s open border policies,” Abbnott wrote on X Wednesday, adding “We continue to deploy this razor wire to repel illegal immigration.”

Are we about to witness the federal government vs. Texas over an invasion of illegals?

end

Trump Trade Advisor Navarro Sentenced To Four Months For Ignoring J6 Subpoena

THURSDAY, JAN 25, 2024 – 12:35 PM

Former White House trade adviser Peter Navarro was sentenced to four months in jail on Friday for ignoring a subpoena from the Jan. 6 committee.

The DOJ had sought six months in jail and a $200,000 fine.

As we noted last week, Navarro was arrested at a DC airport in June of 2022 on two misdemeanor contempt of Congress charges for doing exactly what Obama AG Eric Holder did (with zero consequences), and more recently, Hunter Biden – ignore a Congressional subpoena when he told the Jan. 6 committee to pound sand.

“The Defendant chose allegiance to former President Donald Trump over the rule of law,” said Assistant U.S. Attorney Elizabeth Aloi in a 20-page sentencing memo submitted last Thursday night, Politico reported at the time.

Navarro was held in contempt in April of 2022 after he refused to provide documents and testimony to the Jan. 6 committee. A grand jury agreed with prosecutors that Navarro knew Trump hadn’t asserted executive privilege to bar him from testifying, and that even if Trump had – it wouldn’t have barred Navarro from testifying about certain non-covered subjects demanded by the Committee.

“At no time did the Defendant provide the Committee with any evidence supporting his assertion that the former President had invoked executive privilege over the information the Committee’s subpoena sought from the Defendant, or otherwise challenge the Committee’s authority or composition,” wrote Aloi. “The Court was left with only the Defendant’s fan fiction version of what the Defendant wished or hoped the former President might have wanted but left unsaid.“

THE KING REPORT

The King Report June 25, 2024 Issue 7166

Independent View of the News

The Peoples Bank of China cut its RRR (Reserve Requirement Rate) by 50bps, effective on February 5. Analysts believe this will create 1 trillion yuan ($140B) of liquidity.

China cuts bank reserves to defend markets, spur growth
https://www.reuters.com/world/china/china-will-cut-banks-reserve-ratio-next-month-bolster-economic-recovery-2024-01-24/

Commodities soared on the latest Chinese stimulus scheme. The dollar sank.

Gasoline Production in US Plunges (11%) to Three-Year Low on Cold Snap – BBG
The winter storm shuttered as much as 1.5 million barrels a day of crude processing capacity on the Gulf Coast at its peak…

ECB asks some lenders to monitor social media for early signs of bank runs
A spokesperson at the ECB declined to comment… (What evil lurks in the minds of ECB solons?)
https://www.reuters.com/markets/europe/ecb-asks-some-lenders-monitor-social-media-early-signs-bank-runs-sources-2024-01-24/

Wall Street Stock-Lending Platform Crashes in Ransomware Attack
    EquiLend says it may take days to recover from cyber incident
    Firm is at heart of Wall Street’s securities-lending industry
The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial-technology firm that processes trillions of dollars of securities-lending transactions every month… (A way to halt/panic short sellers)
https://www.bloomberg.com/news/articles/2024-01-24/wall-street-s-stock-lending-tech-firm-goes-down-in-cyberattack

@zerohedge: Guess who owns Equilend: Bank of America, BlackRock, Credit Suisse, Goldman Sachs, JPMorgan, Morgan Stanley, National Bank of Canada, Northern Trust, State Street and UBS.

We have warned that Fang reporting season has commenced, and traders want to be long stuff for the results. On Wednesday, Fangs went berserk, abetted by Netflix’s surge in new subscribers. Netflix was +14.2% at 10:00 ET.

@bespokeinvest: The NYSE FANG+ index, which is made FAANG stocks plus NVDA, AVGO, MSFT, SNOW, and TSLA is up 2.9% and on pace for its best day since late last August.

@jfahmy: NVDA is 8 points off its all-time high. The Fed needs to do an emergency rate cut.

Alaska Airlines CEO Says Found Many Loose Bolts on Max 9s: NBC

ESHs opened moderately higher on Tuesday night, on Neflix, and then traded flat until they commenced a rally during the final hour of Nikkei trading that persisted until ESHs hit 4924.50 at 8:31 ET. ESHs then sank to 4909.00 at 10:02 ET. Conditioned traders eagerly bought the early NYSE decline. ESHs then soared to a daily high of 4923.25 at 12:54 ET. ESHs then tumbled to 4904.75 at 14:21 ET.

The early afternoon stock tumble was due to a poor US 5-year auction. $61.0B of 5-year notes drew a yield of 4.055% vs 5.035% WI. USHs hit a daily high of 120 21/32 (+27/32) because some idiots once again bought USHs into another Treasury auction – or someone again manipulated USHs higher into US Treasury Auctions to aid & abet Yellen’s Treasury. USHs hit a daily low of 119 4/32 at 14:25 ET.

ESHs bounced to 4916.00 at 14:51 ET on buying for the expected late manipulation. Alas, aggressive sellers returned; ESHs sank to a new daily low of 4899.00 at 15:30 ET. ESHs bounced to 4909.00 at 15:43 ET and then turned south. ESHs made a new daily low of 4895.25 at 15:54 ET.

Tesla, which was up smartly like other Fangs, turned negative in the afternoon. Did someone have nonpublic information about Tesla’s results that were due after the close?

After the close, Tesla reported EPS of .71, .73 expected; sales of $25.17B, $27.87B expected; Free Cash Flow of $2.06B, $1.45B expected; Gross Margin 17.6%, 18.1% expected. TSLA warned that volume growth “may be notably lower” due to next-gen vehicle launch. TSLA sank 5.6% in after-hour trading.

@RailwayAge: For the week ending Jan. 20, 2024, U.S. Class I railroads hauled a total of 397,553 carloads and intermodal units, falling 13.2% from the prior-year period, according to AAR.

IBM reported EPS of 3.87, 3.78 consensus, and revenue of $17.38B, $17.29B expected.   IBM jumped as much as 7.3% in after-hour trading.

Positive aspects of previous session
Fangs soared on trader buying ahead of the heart of Fang reporting season

Negative aspects of previous session
Bonds declined sharply; the US 30-year bond yield hit a new 2024 high
The DJTA was down all session
Stocks got hammered after a poor US 5-year note auction
Commodities rallied sharply on the PBoC 50bps RRR cut

Ambiguous aspects of previous session
S&P 500 results have been mixed so far.

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]: 4879.40
Previous session S&P 500 Index High/Low: 4903.68; 4865.94

@carney: Pretty big movement in fed funds futures this afternoon. Odds of March cut all the way down to 40% from around 50% this morning.

Federal Reserve Board announces the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11    https://www.federalreserve.gov/newsevents/pressreleases/monetary20240124a.htm

The Fed also announced that the free profits to banks from arbitraging the BTFP is over: “The rate on new loans extended from now through program expiration will be no lower than the interest rate on reserve balances in effect on the day the loan is made… this change is effective immediately.”

@DarioCpx: The Federal Reserve raises rate on emergency loan program to stop arbitrage – BBG.  You know what this means? Effectively, the FED just hiked rates and tightened liquidity…

Today – An ugly US 5-year auction on Wednesday, kneecapped equity traders that were beaucoup long for the expected rally for Fang reporting season. The US Treasury will auction $41.0B of 7-year notes. Barring a horrible auction, dealers will try to juice bonds after the final US auction tranche.

Barring unexpected negative news, a bond market rally after the 7-year auction should instigate enthusiasm for equities. Ergo, prudent traders are likely to be rather passive until the results of the 7-year auction appear after 13:00 ET.

Though bonds are due to bounce on a technical basis, the 2024 trend for bonds is negative – and it appears to finally be weighing on stocks. Traders will continue to play for the upward seasonal biases of Fang reporting season and January performance gaming. However, unless bonds commence a meaningful rally, stocks are increasingly vulnerable to the downside – and some type of equity top is forming.

Expected Economic Data: Q4 GDP 1.0%, Consumption 2.5%, GDP Price Index 2.2%, Core PCE Price Index 2.0%; Dec Chicago Fed National Activity Index 0.06; Dec Advance Goods Trade Balance -$88.7B; Dec Wholesale Inventories -0.2% m/m, Retail Inventories 0.0% m/m; Dec Durable Goods 1.5% m/m, Ex-Trans 0.2%, Nondef Ex-Air 0.1%; Shipments 0.0%; Initial Jobless Claims 200k, Continuing Claims 1.82m; Dec New Home Sales 649k

ESHs went from +2.75 to -2.00 on the termination of the BTFP; USHs fell to -7/32 from +4/32.

Expected earnings: CMCSA .79, LUV .12, DOW .40, NOC 5.80, AAL .15, MMC 1.63, HUM 1.99, V 2.35, INTC .45, COF 2.66

S&P Index 50-day MA: 4668; 100-day MA: 4504; 150-day MA: 4491; 200-day MA: 4415
DJIA 50-day MA: 36,645; 100-day MA: 35,238; 150-day MA: 35,057; 200-day MA: 34,694
(Green is positive slope; Red is negative slope)

S&P 500 Index – Trender trading model and MACD for key time frames
Monthly: Trender and MACD are positive – a close below 4026.83 triggers a sell signal
Weekly: Trender and MACD are positive – a close below 4532.43 triggers a sell signal
Daily: Trender and MACD are positive – a close below 4794.58 triggers a sell signal
Hourly: Trender is positive ; MACD is negative – a close below 4868.72 triggers a sell signal

Texas Gov. Greg Abbott continues laying razor wire to keep migrants out, despite court allowing feds to cut it https://trib.al/aWtivRH

Texas GOP Gov. @GregAbbott_TX: My statement on Texas’ constitutional right to self-defense.
James Madison, Alexander Hamilton, and the other visionaries who wrote the U.S. Constitution foresaw that States should not be left to the mercy of a lawless president who does nothing to stop external threats. That is why the Framers included both Article IV, § 4, which promises that the federal government “shall protect each [State] against invasion,” and Article I, § 10, Clause 3, which acknowledges “the States’ sovereign interest in protecting their borders.” Arizona v. United States, 567 U.S. 387, 419 (2012) (Scalia, J., dissenting)…
    The failure of the Biden Administration to fulfill the duties imposed by Article IV, § 4 has triggered Article I, § 10, Clause 3, which reserves to this State the right of self-defense. For these reasons, I have already declared an invasion under Article I, § 10, Clause 3 to invoke Texas’s constitutional authority to defend and protect itself. That authority is the supreme law of the land and supersedes any federal statutes to the contrary. The Texas National Guard, the Texas Department of Public Safety, and other Texas personnel are acting on that authority, as well as state law, to secure the Texas border.
https://twitter.com/GregAbbott_TX/status/1750235544951349275

Ex-Chief counsel to GOP Sen. Grassley @mrddmia: The Chief Justice and Justice Barrett should have thought through their rushed, weak, mindless, and unexplained capitulation to Biden’s brazen open-border lawlessness. We now have a serious and dangerous constitutional crisis.  Shameful.

Fox’s @ChadPergram: 1) Cruz tears into McConnell over pushing for bipartisan border pact, even though House GOP brass opposes still unfinished border bill: Sadly, Mitch McConnell’s enemies are conservatives in the Senate and House Republican leadership. 2) Cruz: It’s not designed to secure the border and it won’t secure the border. And that’s why leadership wants it kept in secret.

@PunchbowlNews: Mitch McConnell backs away from the bipartisan border deal, saying the politics of the border has flipped for the GOP. (Mitch finally acknowledges what the polls have said for months)

@SteveLovesAmmo: I seriously cannot believe CNN actually aired this!! (Dem) Rep. Dean Phillips on meeting MAGA for the first time. “I gotta tell you guys, I went to a Donald Trump rally a couple of nights ago. I’ve never been to one. I had an event across the street. I saw the line of people waiting in the cold for hours.” “And I thought what the heck. I’m going to be a leader who actually invited people, doesn’t condemn them.”
    “Met probably 50 Trump people waiting in line. Every single one of them: thoughtful, hospitable, friendly. All of them so frustrated that they feel nobody is listening to them, except Donald Trump.”…
    “My party is completely delusional right now.”
https://twitter.com/SteveLovesAmmo/status/1749918457573818513

Biden’s woeful incompetence has turbo-charged Trump’s monster comeback
When the history books seek to explain the electric charge that refueled a man that most observers — like me — considered to be running on terminal empty, they will surely settle on two reasons: 1) The ridiculously over-the-top Democrat-led efforts to stop Trump running again off by chucking so many criminal charges at him that even Al Capone would have felt it unfair if it had happened to him, and 2) Biden’s own staggeringly dreadful incompetence as president…
   Ultimately though, all roads lead back to his advanced age and senility — as even two-thirds of Democrats think he’s too old to run again. And it’s not the fact he’s 81 that’s the problem… but the fact that he looks and sounds like he’s 101…
    Biden has become Washington’s equivalent of Dr. Victor Frankenstein, reviving Trump’s rotting political corpse through his own tactical stupidity and ineptitude and creating a raging beast he can’t control that is now coming back to kill him…
https://nypost.com/2024/01/24/opinion/bidens-woeful-incompetence-has-turbo-charged-trumps-monster-comeback/

@VivekGRamaswamy: The fact that Nikki is pressing ahead exposes the ugly underbelly of this race: there’s no way she can defeat Trump through the front door, so her donor puppet masters are propping her up long enough while plotting to eliminate Trump from the ballot. It’s ugly. But it’s the TRUTH.
    Don’t take it just from me. Here are direct quotes from WSJ editorial board tonight. It’s all hiding in plain sight: “If she can remain competitive, there’s an argument for Ms. Haley to stay in the race through the July convention. Mr. Trump faces a treacherous legal road…Ms. Haley could stay in the race, rack up delegates, and see what happens if he is found guilty.
    “Strange things can happen with candidates who are this old and this disliked by a majority of the public. The 2024 election may have more twists before the Trump vs. Biden die is cast.”

Rich Donors Keep Haley’s 2024 Run Afloat, Even If Voters Won’t – BBG Wall Street backers plan to hold New York fundraiser Jan. 30 Super Pacs pledge to spend millions more to boost Haley https://www.bloomberg.com/news/articles/2024-01-24/rich-donors-keep-haley-s-2024-run-afloat-even-if-voters-won-t

Reid Hoffman pauses Nikki Haley funding after New Hampshire loss
Hoffman… has for years mainly financed causes in line with the Democratic Party…
https://www.cnbc.com/2024/01/24/source-reid-hoffman-pauses-haley-funding-after-new-hampshire-loss.html

Nancy Pelosi knocks Trump’s ‘cognitive disorders,’ then confuses Biden with Trump
https://www.foxnews.com/media/nancy-pelosi-knocks-trumps-cognitive-disorders-confuses-biden-trump

GOP Sen. Blackburn says VA has backlog of 1 million veteran claims as resources go to illegal migrants – Sen. Tommy Tuberville, R-Ala., introduced legislation last month to stop VA resources from being used to provide taxpayer-funded healthcare to illegal immigrants…
https://www.ktbs.com/news/national/blackburn-says-va-has-backlog-of-1-million-veteran-claims-as-resources-go-to-illegal/article_5ff95a12-ba9e-11ee-910a-3f0a38c74eca.html

@bennyjohnson: Arizona Republican Party Chair Jeff DeWit suggests that he feared he’d put his life at risk for going public about the “powerful people” who offered to bribe Kari Lake to prevent her from running. “No no no no.. and then I turn my key in my car and *BOOM*”
https://twitter.com/bennyjohnson/status/1749909529007951887

Arizona GOP boss Jeff DeWit resigns after bombshell audio of him allegedly trying to bribe Kari Lake leaks: ‘I was set up’ https://trib.al/7hkYGNO

Expert Testifies in Court: Dominion Voting Systems Easily Hackable
A voting systems expert testifying in a Georgia trial last week demonstrated that Dominion Voting Systems machines were so easily hackable he could use a Bic pen and smart card to copy, edit, and change votes in seconds, according to Law360 Pulse, which is covering the trial…
    The professor then inserted the pen into the Dominion voting machine and held it there for a few seconds, which caused the machine to reboot into “safe mode,” according to Halderman.
    Halderman then explained that a person could copy or change files on the voting machine, change its operating settings, or install malware…
https://www.newsmax.com/newsfront/dominion-voting-systems-expert-hack/2024/01/23/id/1150621/
    Ex-DJT DNI @RichardGrenell: The US media is still largely ignoring this unbelievable story….

How the FBI and CIA went woke
The colossally successful Soviet active measures campaign to “make America stink” through cultural Marxism began a century ago during a meeting at the Marx-Engels Institute in Moscow.
    Participants included Hungarian Bolshevik György Lukacs, who pioneered the politically motivated sexualization of children; Willi Münzenberg, the top Communist International strategist who would deploy his spawn to “make America stink”; and Feliks Dzerzhinsky, founder of the Cheka, which would become the KGB…
    That metamorphosis unfolded gradually over recent decades. It gained momentum under President Barack Obama, who campaigned in 2008 to “fundamentally transform America.” Obama spoke publicly of his intellectual upbringing with the works of Herbert Marcuse, a founding father of critical theory and cultural Marxism and, yes, a Comintern man…
    As president, Obama filled his administration with acolytes of Marcuse to fill the Justice Department with critical legal theory lawyers and grievance-industry agitators to spread critical race theory through the bureaucracy and across American society. The FBI, politicized at the top, became a target for critical Marxist infiltration. Obama issued a 2011 diversity executive order to mandate critical race theory at every level of government… Obama then used the ODNI to impose his Comintern/Marcusian critical theory on the entire intelligence community, especially the FBI and CIA. The Trump team didn’t stop it. Biden accelerated it…  https://centerforsecuritypolicy.org/how-the-fbi-and-cia-went-woke/

Daily Mail: Lindsey Graham said Trump would believe a theory that ‘martians’ stole the election, told Georgia grand jury he ‘cheated at golf’ and ‘hugged Fani Willis’: New book claims senator threw ex-president under the bus in wild testimony https://trib.al/Hx7w3ON

In public, the odious GOP Sen. Lindsey Graham unabashedly kisses Trump’s backside.

GREG HUNTER

SEE YOU ON FRIDAY

SHANGHAI GOLD (USD) FUTURES – QUOTE

GOLD: NUMBER OF NOTICES FILED FOR JAN/2024. CONTRACT: 235 NOTICES FOR 23,500 OZ or 0.7309 TONNES

total notices so far: 6222 contracts for 622,200 oz (19.353 tonnes)

FOR JANUARY:

SILVER NOTICES 227 NOTICE(S) FILED FOR 1,135,000 OZ/

total number of notices filed so far this month : 1109 for 5,545,000 oz

GATA’s Murphy, GoldSeek’s Waltzek ponder whether this will be gold’s year

Can We Get A 5th All-Time High In A Row: Futures Flat Ahead Of ECB, GDP Report

Equities marginally weaker, Tesla -7.9% post-earnings, Crude bid; ECB and key US data due – Newsquawk US Market Open

EUROPEAN TRADE

EQUITIES

FX

FIXED INCOME

COMMODITIES

EARNINGS

GEOPOLITICS

CRYPTO

APAC TRADE

Japan May Raise Rates Before Fed Starts Cutting

Israel-Hamas War: Hamas refuses hostage deal, IDF eliminates dozens of terrorists

Hezbollah rockets that landed in Israel possibly contained white phosphorus • Qatar appalled Netanyahu’s called them problematic mediators • ICJ ruling to come Friday

‘Sinwar knows he will die a martyr’: Analysts weigh in on Hamas leader’s end-game – NBC

“He’ll keep some of the hostages forever,” Jacob Nagel said. “This will be his insurance policy that no one will kill him.” But Gershon Baskin expects a fight to the death.

Does Sinwar want to make it out alive?

WATCH: IDF commandos conduct precise strikes on terrorists, raid Khan Yunis command centers

Snipers from the Egoz unit carried out several precise strikes over the course of several hours using methods adapted to fight enemies that hide underground.

Egoz used precision fire and missiles for accurate eliminations

Maglan took control of key command centers

Fierce battles rage in Khan Younis as IDF says it’s ‘increasing pressure’ on Hamas

Egypt accuses Israel of holding up entry of aid, while UN mission to assess feasibility of letting civilians return to northern Gaza delayed due to Israeli security concerns

IDF strikes Hezbollah-Iran airport in major escalation

Gallant said at the time that at the airport, one can see Iran’s flag flying on the runways from which the ayatollahs’ regime is using to plot against Israel.

Previous IDF strikes

Israeli security forces uncover explosives, kill terrorists in West Bank

Since the beginning of the war, approximately 2,700 wanted suspects have been arrested throughout the West Bank, over 1,300 of whom are associated with Hamas.

The operation was widespread, taking place in multiple cities.

Biden Dispatches CIA Director To Negotiate Major Gaza Ceasefire Deal

US Navy Smacks Down Houthi Claim That Ballistic Missile Hit American Ship

Red Sea Blockage Leads To “Out Of Control” Shipping Rates; Charters Hits $100,000 Per Day

US Launches Airstrikes In Somalia For First Time This Year

GLOBAL VACCINE/COVID ISSUES

Why Has The Number Of Measles Cases Been Rising So Rapidly All Over The World?

Warriors’ Andrew Wiggins explains decision to get COVID-19 vaccine: Options were ‘to get vaccinated or not play in the NBA’

The Warriors “hosted a booster clinic” in early February, 2022, to make sure that the team’s fans were injected, too:

Warriors’ COVID booster requirement goes into effect at SF’s Chase Center

Warriors assistant coach Dejan Milojevic hospitalized after medical emergency at team dinner in Utah

Milojevic died the next day:

Warriors assistant coach Dejan Milojevic dies at 46 after suffering heart attack in Utah

NBA Coach’s Death Sparks COVID-19 Vaccine Conspiracy Theories

Musicians in the US (6), Canada (2), Brazil (2), Germany (2), Poland, Latvia, Greece, S. Africa, Russia, Australia (2); doctors in the US, Canada, Brazil, Czechia, Belarus, Italy, NZ; & more

United States:

Canada:

Mexico, Cuba, Turks and Caicos, Colombia, Peru, Brazil and Argentina:

United Kingdom and Ireland:

France, Bel., Holland, Germany, Austria, Norway, Poland, Latvia, Belarus, Czechia, Serbia, Croatia, Greece, Malta and Spain:

Italy:

Morocco, Nigeria, Kenya, Uganda, Ghana, South Africa, Israel, Turkey, Ukraine and Russia:

India, Kyrgyzstan, Uzbekistan, Maldives, Vietnam, China, S. Korea, Japan, Indonesia, Timor-Leste, Australia and New Zealand: h

I am listening, I wish to tap into these minds, having a thesis that early treatment was important, but for only the initial version of what was circulating; thats it; ABS was the critical drug?

Emergency Preparedness kit of 8 essential medications to have on hand:

How? This Pfizer BioNTech. Did her own work cause her facial paralysis? Why the silence from medical doctors, the media? She clearly has partial (at least) facial paralysis, Bell’s Palsy, Beiber?

MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK

Russia Builds Out Arctic Oil Route As Middle East Tensions Escalate

Tucker Carlson Warns Canadians of ‘Destruction of You and Your Culture’

Canada Connection

Smith Firm on Oil Production

Working-Class Citizens

Bonds & Black Gold Bid, Big-Tech Skids As ‘No Landing’ Narrative Gores Goldilocks

Q4 GDP Unexpectedly Soars, Driven By Lack Of Destocking And An RV Spending Spree

National Economic Activity Unexpectedly Declined In December; Chicago Fed Index Shows

Initial Jobless Claims Bounce Back To 1-Month-Highs (From Near 54-Year Lows)

Rand Paul Rages ‘Half The GOP Wants To Sell Out The US Border To Fund Ukraine War’

Fed Unexpectedly Kills Bank “Free Money” Bailout-Fund Arbitrage Scheme As It Ends BTFP Program

Microsoft To Fire 1,900 Workers Across Gaming As Its Market Cap Hits $3 Trillion

Texas Defies ‘Lawless’ Biden, Invokes Right To Self-Defense From ‘Invasion’ With More Razor Wire

Trump Trade Advisor Navarro Sentenced To Four Months For Ignoring J6 Subpoena

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