GOLD PRICE CLOSED: DOWN $4.80 TO $2019.40

SILVER PRICE UP 14 CENTS TO $22.70

Gold ACCESS CLOSED 2020.10

Silver ACCESS CLOSED: 22.69

this week is China’s golden week so physical demand will be slow. It will dramatically pick up starting this Friday.

Bitcoin morning price:, 48,002 UP 394 DOLLARS

Bitcoin: afternoon price: $49,772 UP 2164 dollars

Platinum price closing $893.10 UP $17.45

Palladium price; $891.35 UP $20.70

END

SHANGHAI GOLD PREMIUM 50 DOLLARS/COMEX GOLD

SHANGHAI GOLD (USD) FUTURES – QUOTES

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 12 Feb 2024 07:56:48 AM CT.

Market data is delayed by at least 10 minutes.

MONTH	LAST	CHANGE	PRIOR SETTLE	OPEN	HIGH	LOW	UPDATED
FEB 2024 SGUG4	–	–	2075.2	–	–	–	21:30:01 CT 11 Feb 2024
MAR 2024 SGUH4	–	–	2085.7	–	–	–	21:30:01 CT 11 Feb 2024
APR 2024 SGUJ4	–	–	2085.6	–	–	–	21:30:01 CT 11 Feb 2024
MAY 2024 SGUK4	–	–	–	–	–	–	–
JUN 2024 SGUM4	–	–	2097.2	–	–	–	21:30:01 CT 11 Feb 2024
AUG 2024 SGUQ4	–	–	2097.8	–	–	–	21:30:01 CT 11 Feb 2024
OCT 2024 SGUV4	–	–	2098.4	–	–	–	21:30:01 CT 11 Feb 2024
DEC 2024 SGUZ4	–	–	2099.0	–	–	–	21:30:01 CT 11 Feb 2024
FEB 2025 SGUG5	–	–	–	–	–	–	–

About this Report

I will now provide gold in Canadian dollars, British pounds and Euros

4: 15 PM ACCESS

*CANADIAN GOLD: $2,717.36 DOWN 8.00 CDN dollars per oz( * NEW ALL TIME HIGH 2,795.90 CDN DOLLARS PER OZ//DEC 1 2023)

*BRITISH GOLD: 1599,40 DOWN 3.82 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17 BRITISH POUNDS/OZ) OCT 2/2023

*EURO GOLD: 1874.95 DOWN 2.85 euros per oz //* (ALL TIME CLOSING HIGH: 1903.75 EUROS PER OZ//DEC 1.2023)

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EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: FEBRUARY 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,023.300000000 USD
INTENT DATE: 02/09/2024 DELIVERY DATE: 02/13/2024
FIRM ORG FIRM NAME ISSUED STOPPED

363 H WELLS FARGO SEC 17
657 C MORGAN STANLEY 1
686 C STONEX FINANCIA 1 3
737 C ADVANTAGE 24 1
905 C ADM 3

TOTAL: 25 25
MONTH TO DATE: 16,507

JPMorgan stopped 0/25 contracts.

FOR FEB.:

GOLD: NUMBER OF NOTICES FILED FOR FEB/2024. CONTRACT: 25 NOTICES FOR 2500 OZ or 0.0777 TNNES

total notices so far: 16,507 contracts for 1,650,700 Oz (51.343 tonnes)

FOR FEBRUARY:

SILVER NOTICES 0 NOTICE(S) FILED FOR nil OZ/

total number of notices filed so far this month : 1066 for 5,330,000 oz

XXXXXXXXXXXXXXXXXX

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END

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL

GLD

WITH GOLD DOWN $4.80//CROOKS

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A STRONG WITHDRAWAL OF 1.74 TONNES INTO THE GLD/

INVENTORY RESTS AT 841.92 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER UP 14 CENTS AT THE SLV//

SMALL CHANGES IN SILVER INVENTORY AT THE SLV AGAIN: A WITHDRAWAL OF 1.929 MILLION OZ OUT OF THE SLV

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 438.119 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A HUGE SIZED 1278 CONTRACTS TO 147,002 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS FAIR SIZED GAIN IN COMEX OI WAS ACCOMPLISHED DESPITE OUR TINY LOSS OF $0.04 IN SILVER PRICING AT THE COMEX ON FRIDAY. WE HAD SOME LONG LIQUIDATION AT THE COMEX SESSION AND SOME SHORT COVERING AS THE OPEN INTEREST FELL. WE HAD A MEGA MEGA HUMONGOUS 4502 T.A.S ISSUANCE AND THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY. PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION.

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 FRIDAY NIGHT: 4502 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 SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.04), AND WERE SUCCESSFUL IN KNOCKING SOME SILVER LONGS AS WE HAD A STRONG SIZED LOSS OF 601 CONTRACTS ON OUR TWO EXCHANGES.

WE MUST HAVE HAD:

A FAIR SIZED 299 ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.535 MILLION OZ (FIRST DAY NOTICE) ACCOMPANYING A STRANGE 89 CONTRACT ISSUANCE FOR EX. FOR RISK FOR 445,000 OZ ON FIRST DAY NOTICE/ FOLLOWED BY TODAY’S HUGE 30,000 OZ QUEUE JUMP//NEW TOTAL; 6.997 MILLION OZ

//NEW STANDING FOR SILVER IS THUS 6.997 MILLION OZ

/ HUGE SIZED COMEX OI LOSS/FAIR SIZED EFP ISSUANCE/ VI) HUMONGOUS SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 4502 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED 378 CONTRACTS //

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

TOTAL CONTRACTS for 8 days, total 4160 contracts: OR 20.800 MILLION OZ (520 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 20.800 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 : 78.655 MILLION OZ//

FEB /2024 : 20.800 MILLION OZ.

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1278 CONTRACTS WITH OUR LOSS IN PRICE OF SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A FAIR EFP ISSUANCE CONTRACTS: 299 ISSUED FOR MARCH 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 FEB. OF 3.535 MILLION OZ ACCOMPANIED BY FIRST DAY NOTICE OF 445,000 OZ EX. FOR RISK FOLLOWED BY TODAY’S 30,000 OZ QUEUE JUMP //NEW TOTAL 6.997 MILLION OZ

NEW STANDING 6.997 MILLION OZ /// WE HAVE A STRONG LOSS OF 601 OI CONTRACTS ON THE TWO EXCHANGES WITH THE LOSS IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUMONGOUS SIZED 4502 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX SESSION/// WITH SOME SHORT COVERING FROM OUR SPEC SHORTS (OPEN INTEREST FELL) . THE NEW TAS ISSUANCE FRIDAY NIGHT DAY NIGHT (4502) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .

WE HAD 0 NOTICE(S) FILED TODAY FOR nil OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 2791 CONTRACTS TO 417,607 AND FURTHER FROM 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 56 CONTRACTS

WE HAD A FAIR SIZED DECREASE IN COMEX OI ( 2791 CONTRACTS) WITH OUR $8.60 LOSS IN PRICE//FRIDAY. WE ALSO HAD A RATHER LARGE INITIAL STANDING IN GOLD TONNAGE FOR FEB. AT 49.773 TONNES ON FIRST DAY NOTICE ACCOMPANIED BY FIRST DAY NOTICE : 55,400 OZ EX. FOR RISK //THUS INITIAL STANDING FOR FEB: 51.494 TONNES FOLLOWED BY TODAY’S 800 OZ QUEUE JUMP //NEW TOTAL OF GOLD STANDING: 54.273 TONNES // ALL OF THIS HAPPENED WITH OUR $8,60 LOSS IN PRICE WITH RESPECT TO FRIDAY’S TRADING. WE HAD A TINY SIZED GAIN OF 189 OI CONTRACTS (0.587) PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2980 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 417,607

IN ESSENCE WE HAVE A TINY SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 189 CONTRACTS WITH 2791 CONTRACTS DECREASED AT THE COMEX// AND A FAIR SIZED 2980 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 189 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A STRONG SIZED 3400 CONTRACTS.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2980 CONTRACTS) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI (2791) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 189 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 FEB. AT 49.773 TONNES PLUS FIRST DAY NOTICE OF 1.723 TONNE OZ EX. FOR RISK FOLLOWED BY TODAY’S 800 OZ QUEUE JUMP //NEW STANDING 54.273 TONNES. / 3) ZERO LONG LIQUIDATION // 4) FAIR SIZED COMEX OPEN INTEREST LOSS/ 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: GOOD T.A.S. ISSUANCE: 3400 CONTRACTS

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

FEB.

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

TOTAL EFP CONTRACTS ISSUED: 28,483 CONTRACTS OR 2,848,300 OZ OR 88.59 TONNES IN 8 TRADING DAY(S) AND THUS AVERAGING: 3560 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 8 TRADING DAY(S) IN TONNES 88.59 TONNES

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

THUS EFP TRANSFERS REPRESENTS 88.59/3550 x 100% TONNES 2.48% 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: 291.76 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.//3RD HIGHEST EVER RECORDED EX FOR PHYSICAL)

FEB’24: 88,59 TONNES (SHOULD BE A STRONG ISSUANCE 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 1278 CONTRACTS OI TO 147,002 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 299 CONTRACTS

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

MARCH 299 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 299 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 1278 CONTRACTS AND ADD TO THE 299 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A STRONG LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 979 CONTRACTS

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTAL 4.895 MILLION OZ

OCCURRED DESPITE OUR TINY $.04 LOSS 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//

MONDAY MORNING/SUNDAY NIGHT

SHANGHAI CLOSED //Hang Seng CLOSED /The Nikkei CLOSED //Australia’s all ordinaries CLOSED DOWN 0.34% /Chinese yuan (ONSHORE) closed D

/OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2159 /Oil UP TO 76.50 dollars per barrel for WTI and BRENT DOWN AT 81.20/ Stocks in Europe OPENED MOSTLY ALL GREEN// ONSHORE YUAN TRADING XXXX LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING XXXXX AGAINST US DOLLAR/OFFSHORE STRONGER

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3 CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 2791 CONTRACTS TO 417,607 WITH OUR LOSS IN PRICE OF $8.60 WITH RESPECT TO FRIDAY TRADING.

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS 2980 EFP CONTRACTS WERE ISSUED: : APRIL 2980 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2980 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A SMALL SIZED TOTAL OF 189 CONTRACTS IN THAT 2980 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR SIZED LOSS OF 2780 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR FALL IN PRICE OF $8.60 FRIDAY 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 FRIDAY NIGHT WAS A GOOD SIZED 3600 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: FEB (54.273 TONNES) ( 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. 22.706 TONNES

FEB. ’24: 54.273 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT LOST $8.60 //// BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A TINY SIZED GAIN OF 189 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A STRONG T.A.S. LIQUIDATION ON THE FRONT END OF FRIDAY’S TRADING . THE T.A.S. ISSUED ON FRIDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. WE ALSO EXPERIENCED NERVOUS SPECULATOR SHORT COVERING AS LONGS NOTIFIED THE CME THAT THEY WERE TAKING DELIVERY ON THEIR JUST PURCHASED GOLD CONTRACTS.

WE HAVE GAINED A TOTAL OI OF 0.5870 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR FEB. (49.773 TONNES) ON FIRST DAY NOTICE ALONG WITH AN EXCHANGE FOR RISK FOR 1.7235 TONNES. THIS WAS FOLLOWED WITH TODAY’S 800 OZ QUEUE JUMP (.0248 TONNES//NEW TOTAL STANDING 54.273: ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $8.60

WE HAD + added 56 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)

NET GAIN ON THE TWO EXCHANGES 189 CONTRACTS OR 18,900 OZ OR 0.587 TONNES.
estimated volume today: 117,441 extremely poor

final gold volumes/yesterday 131,365 extremely poor

//speculators have left the gold arena

FEB 12 INITIAL FEB GOLD

/ /// THE FEB 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	312,814.582 oz ASAHI Brinks includes 5026 kilobars (Brinks) 9.729 tonnes of gold .
Deposit to the Dealer* Inventory in oz*	nil oz
Deposits to the Customer* Inventory, in oz*	nil
No of oz served (contracts) today	25 notice(s) 2500 OZ 0.0777 TONNES
No of oz to be served (notices)	388 contracts 38800 oz 1.206 TONNES
Total monthly oz gold served (contracts) so far this month	16,507 notices 1,650,700 oz 51.343 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: 2

i) out of ASAHI 149,616.062 ox

ii) Out of Brinks 163m198.480 oz (5026 kilobars

total withdrawals 312.814.582 oz 9.709 tonnes

we had 0 customer deposits

Adjustments: 1 dealer to customer

a) HSBC 27,872.262 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR FEB.

For the front month of FEBRUARY we have an oi of 413 contracts having LOST 33 contracts. We had 41 notices filed on Friday, so we gained 8 contracts or an additional 800 oz will stand for delivery at the comex as they took delivery over on this side of the pond.

We also had 554 notices filed under exchange for risk on first day notice for a total of 55,400 oz or 1.723 tonnes to which must be added to the delivery cycle.

Thus initial standing for gold for February is 50.136 tonnes + 1.723 tonnes = 51.859 tonnes. This was followed with today’s queue jump of 800 oz for .02488 tonnes//New standing 52.550 tonnes + 1.723 tonnes = 54.273 TONNES

March gained 2 contracts to stand at 2040

APRIL LOST 4748 CONTRACTS FALLING TO 337,554.

We had 25 contracts filed for today representing 2500 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 25 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped ( (received) by J.P.Morgan//customer account

To calculate the INITIAL total number of gold ounces standing for the FEB. /2024. contract month, we take the total number of notices filed so far for the month (16,507 x 100 oz ), to which we add the difference between the open interest for the front month of FEB. (413 CONTRACTS) minus the number of notices served upon today 25 x 100 oz per contract equals 1,689,500 OZ OR 52.550 TONNES + 1.723 Ex for Risk/prior = 54.273 tonnes

thus the INITIAL standings for gold for the FEB. contract month: No of notices filed so far (16,507) x 100 oz + (413) {OI for the front month} minus the number of notices served upon today (25) x 100 oz which equals 1,689,500 oz (52.550 TONNES) + 54,400 oz (1.723 TONNES) ex. for risk/prior// NEW total standing OR 54.273 TONNES

TOTAL COMEX GOLD STANDING FOR FEB: 54.273 TONNES WHICH IS GREAT FOR AN ACTIVE 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: 1,401,069.091 43.579 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 18,686,635.241 OZ

TOTAL REGISTERED GOLD 8,641,848.561 (268.797 tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 10,044,786.680 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 7,240,780 oz (REG GOLD- PLEDGED GOLD) 225.21 tonnes

END

SILVER/COMEX

FEB 12/INITIAL

//2024// THE FEB 2024 SILVER CONTRACT//INITIAL

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	17,795.021 oz Delaware .
Deposits to the Dealer* Inventory*	nil OZ
Deposits to the Customer Inventory	nil
No of oz served today (contracts)	0 CONTRACT(S) (nil OZ)
No of oz to be served (notices)	244 contracts (1,220,000 oz)
Total monthly oz silver served (contracts)	1066 Contracts (5,330,000 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 0 deposits customer account:

total customer deposits nil oz

JPMorgan has a total silver weight: 129.806 million oz/274.579 million or 47.61%

adjustment: 0

Comex withdrawals: 1

i) Out of Delaware 17,795.021 oz

total withdrawal: 17,795.021 oz

TOTAL REGISTERED SILVER: 42.873 MILLION OZ//.TOTAL REG + ELIGIBLE. 274.579 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:

silver open interest data:

FRONT MONTH OF FEB. /2023 OI: 244 CONTRACTS HAVING LOST 3 CONTRACT(S). WE HAD 8 NOTICES FILED ON FRIDAY SO WE GAINED 5 CONTRACTS OR AN ADDITIONAL 30,000 OZ OF SILVER CONTRACTS WILL STAND FOR DELIVERY.

MARCH LOST 5451 CONTRACTS TO 84,559

APRIL SAW A GAIN OF 1 CONTRACT TO STAND AT 19

MAY SAW A GAIN OF 3790 CONTRACTS UP TO 44,632

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 0 for NIL oz

Comex volumes// est. volume today 92,708 huge

Comex volume: confirmed yesterday 62,800 good

To calculate the number of silver ounces that will stand for delivery in FEB. we take the total number of notices filed for the month so far at 1066 x 5,000 oz = 5,330,000 oz

to which we add the difference between the open interest for the front month of FEB. (244) and the number of notices served upon today 0 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the FEB/2024 contract month: 1066 (notices served so far) x 5000 oz + OI for the front month of FEB. (244) – number of notices served upon today (0 )x 500 oz of silver standing for the FEB contract month equates to 6.550 MILLION OZ. + .445 MILLION OZ EX. FOR RISK PRIOR//NEW TOTAL 6.995 MILLION OZ

New total standing: 6.995 million oz.

There are 42.873 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!

FEB12/WITH GOLD DOWN $4.80 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A STRONG WITHDRAWAL OF 1.74 TONNES OF GOLD FROM THE GLD. / //://INVENTORY RESTS AT 841.92 TONNES

FEB9/WITH GOLD DOWN $8.60 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A STRONG DEPOSIT OF 1.44 TONNES OF GOLD FROM THE GLD. / //://INVENTORY RESTS AT 843.66 TONNES

FEB8/WITH GOLD DOWN $2.70 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A MASSIVE WITHDRAWAL OF 5.47 TONNES OF GOLD FROM THE GLD. / //://INVENTORY RESTS AT 842.22 TONNES:

FEB7/WITH GOLD UP $0.40 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A MASSIVE WITHDRAWAL OF 4.04 TONNES OF GOLD FROM THE GLD. / //://INVENTORY RESTS AT 847.69 TONNES:

FEB6/WITH GOLD UP $8.50 TODAY NO CHANGES IN GOLD INVENTORY AT THE GLD:/ / //://INVENTORY RESTS AT 851.73 TONNES:

FEB5/WITH GOLD DOWN $9.85 TODAY SMALL CHANGES IN GOLD INVENTORY AT THE GLD:A DEPOSIT OF .58 TONNES OF GOLD INTO THE GLD// / //://INVENTORY RESTS AT 851.73 TONNES:

FEB 2/WITH GOLD DOWN $17.95 TODAY SMALL CHANGES IN GOLD INVENTORY AT THE GLD:A WITHDRAWAL OF .58 TONNES OF GOLD FROM THE GLD// / //://INVENTORY RESTS AT 851.15 TONNES:

FEB 1/WITH GOLD UP $5.00 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A WITHDRAWAL OF 1.73 TONNES OF GOLD FROM THE GLD// / //://INVENTORY RESTS AT 851.15 TONNES:

JAN 31/WITH GOLD UP $16.40 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A WITHDRAWAL OF 2.01 TONNES OF GOLD FROM THE GLD// / //://INVENTORY RESTS AT 852.88 TONNES:

JAN 30/WITH GOLD UP $6.50 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A WITHDRAWAL OF 1.16 TONNES OF GOLD FROM THE GLD// / //://INVENTORY RESTS AT 854.89 TONNES:

TOTAL IN LAST 18 DAYS WITHDRAWAL OF 14.12 TONNES

JAN 29/WITH GOLD UP $8.70 TODAYHUGE CHANGES IN GOLD INVENTORY AT THE GLD:A WITHDRAWAL OF 2.88 TONNES OF GOLD FROM THE GLD// / //://INVENTORY RESTS AT 856.05 TONNES

JAN 26/WITH GOLD DOWN $0.10 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD: / //://INVENTORY RESTS AT 858.93 TONNES

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

GLD INVENTORY: 841.92 TONNES

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

FEB 12/WITH SILVER UP 14 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV A HUGE WITHDRAWAL OF 1.921 MILLION OZ OZ OUT OF THE SLV: SLV INVENTORY RESTS AT 438.119 MILLION OZ

FEB 9/WITH SILVER DOWN 4 CENTS TODAY SMALL CHANGES IN SILVER INVENTORY AT THE SLV A SMALL DEPOSIT OF 600,000 OZ INTO THE SLV: SLV INVENTORY RESTS AT 440.040 MILLION OZ

FEB 8/WITH SILVER UP 29 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV: SLV INVENTORY RESTS AT 439.994 MILLION OZ

FEB 7/WITH SILVER DOWN 18 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A MASSIVE DEPOSIT OF 4.04 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 439.994 MILLION OZ//LAST 9 DAYS: 10.7598 MILLION OZ WITHDRAWAL

FEB 6/WITH SILVER UP 11 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV: /INVENTORY RESTS AT 435.144 MILLION OZ//LAST 9 DAYS: 10.7598 MILLION OZ WITHDRAWAL

FEB 5/WITH SILVER DOWN 32 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.345 MILLION OZ FROM THE SLV(FAIRY TALES) // /INVENTORY RESTS AT 435.144 MILLION OZ//LAST 8 DAYS: 10.7598 MILLION OZ WITHDRAWAL

FEB 2/WITH SILVER DOWN 50 CENTS TODAY SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 0.58 MILLION OZ INTO THE SLV(FAIRY TALES) // /INVENTORY RESTS AT 438.489 MILLION OZ//LAST 7 DAYS: 14.105 MILLION OZ WITHDRAWAL

FEB 1/WITH SILVER UP 7 CENTS TODAY MEGA CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.19 MILLION OZ INTO THE SLV(FAIRY TALES) // /INVENTORY RESTS AT 438.947 MILLION OZ//LAST 6 DAYS: 10.3018 MILLION OZ WITHDRAWAL

JAN 31/WITH SILVER DOWN 8 CENTS TODAY MEGA CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.7438 MILLION OZ INTO THE SLV(FAIRY TALES) // /INVENTORY RESTS AT 440.137 MILLION OZ//LAST 5 DAYS: 9.1118 MILLION OZ WITHDRAWAL

JAN 30/WITH SILVER DOWN 5 CENTS TODAY MEGA CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.876 MILLION OZ INTO THE SLV(FAIRY TALES) // /INVENTORY RESTS AT 442.699 MILLION OZ//LAST 4 DAYS: 7.368 MILLION OZ WITHDRAWAL

JAN 29/WITH SILVER UP $.37 TODAY MEGA CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.105 MILLION OZ INTO THE SLV(FAIRY TALES) // /INVENTORY RESTS AT 444.575 MILLION OZ

JAN 26/WITH SILVER DOWN $0.03 TODAY MEGA CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.556 MILLION OZ INTO THE SLV(FAIRY TALES) // /INVENTORY RESTS AT 446.680 MILLION OZ

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

CLOSING INVENTORY 440.04 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

Household Debt Tops $17.5 Trillion And Americans Are Feeling The Strain

MONDAY, FEB 12, 2024 – 05:00 AM

Authored by Mike Maharrey via Money Metals,

You’ve got to give credit to Visa, Mastercard, Discover and Amex. They’ve managed to build one heck of a booming economy.

Despite surging price inflation, “resilient” American consumers have managed to keep spending money, driving “strong” economic growth – thanks to their credit cards.

But there’s a problem. Americans are having an increasingly hard time keeping up with the bills.

Household debt rose by another $212 billion in the fourth quarter of 2023, surging to a record $17.5 trillion, according to the latest data from the New York Fed.

Total household debt has increased by $3.4 trillion since the end of 2019.

Ballooning credit card balances led the way, increasing by 4.6 percent to $1.13 trillion.

On an annual basis, credit card balances rose by $143 billion.

The bigger problem is the double whammy of rising debt and rising interest rates. Average credit card interest rates eclipsed the previous record high of 17.87 percent months ago. The average annual percentage rate (APR) currently stands at 20.75 percent.

It’s clear that Americans have used credit cards to keep up with the bills as price inflation ate up their real earnings.

During the pandemic, consumers used stimulus money and generous unemployment benefits to pay down debt and bulk up savings.

Credit card balances stood at over $1 trillion when the pandemic began. They fell below that level in 2020, charting an 11.2 percent drop. There were small upticks in credit card balances in February and March of 2021 as the recovery began, but another round of stimulus checks rolled out in April driving another sharp drop in credit card debt. However, Americans started borrowing in earnest again in May 2021 and have added billions to their credit card balances month after month ever since.

Meanwhile, unable to leave their houses due to government lockdowns, but with money still flowing thanks to government stimulus Americans filled up their piggy banks. Aggregate savings peaked at $2.1 trillion in August 2021.

It didn’t take long for consumers stressed by inflation-driven price hikes to blow through that savings.

As of June, the San Francisco Fed estimated that aggregate savings had dropped to $190 billion. In other words, Americans ran through $1.9 trillion in savings in just two years.

“People have to deal with this somehow. After blowing through savings to buy essentials, they do what’s next: Find sources to borrow,” Villanova University finance professor John Sedunov told ABC News earlier this year.

On top of borrowing on credit cards, Americans are pulling equity from their homes to make ends meet. Balances on home equity lines of credit (HELOC) increased by $11 billion in Q4. It was the seventh consecutive quarterly increase since Q1 2022. According to the New York Fed, there is now $360 billion in outstanding HELOC loans.

Americans haven’t just been borrowing using credit cards. Every debt category increased in the fourth quarter.
Mortgage balances increased by $112 billion and stood at $12.25 trillion at the end of the year.
Auto loan debt rose by $12 billion to $1.61 trillion in Q4 and stands at $1.61 trillion.
Other consumer debt balances, including department store credit cards and other consumer loans, grew by $25 billion.
Student loan balances were comparatively flat in Q4, rising by $2 billion.

MishTalk summed it up.

In a single sentence, the economy is nowhere near as strong as the soft landing crowd thinks. Other than mortgages, this data is very recessionary. Consumers are struggling to maintain lifestyles and using credit cards to do so.

Rising Debt Is Putting Strain on American Consumers

The problem with financing economic growth with borrowing is that it’s expensive and credit cards have an inconvenient thing called a limit.

And Americans are clearly starting to feel the strain.

According to the New York Fed, delinquencies increased in every debt category during the fourth quarter.

Credit card and auto loan transitions into delinquency are still rising above pre-pandemic levels,” said Wilbert van der Klaauw, economic research advisor at the New York Fed. “This signals increased financial stress, especially among younger and lower-income households.

Aggregate delinquency rates rose by 3.5 percent, with approximately 8.5 percent of credit card balances and 7.7 percent of auto loans transitioning into delinquency.

Serious delinquencies (more than 90 days past due) are the highest since 2011.

According to the Consumer Financial Protection Bureau, nearly one-tenth of credit card users find themselves in “persistent debt.” This means they rack up more interest and fees each year than they pay toward the principal.

“In the case of credit cards, it looks like things have reverted to a level that is worse than pre-pandemic,” New York Fed analysts told reporters on a conference call.

Trouble in Paradise?

There are signs that Americans are reaching their limit.

Credit card borrowing suddenly fell off a cliff in December, according to the latest consumer debt data released by the Federal Reserve.

Revolving credit, primarily credit card debt, only rose by 1 percent in December, following on the heels of a massive 16.6 percent increase in November.

Non-revolving credit, including auto loans, student loans, and borrowing for other big-ticket items has been slowing for months, indicating Americans buried in debt are feeling the strain. In December, non-revolving credit rose by just 0.2 percent. On average, non-revolving debt has increased by 5 percent on an annual basis.

The plunge in non-revolving credit indicates consumers have cut back spending on big-ticket items. And now it appears they might be close to maxing out the credit cards.

If Americans can’t borrow anymore, how will the economy continue to “grow?”

The ugly truth is debt is creating an illusion of prosperity and economic growth.

There is a word for this.

Unsustainable.

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

MATHEW PIEPENBURG

END

3. CHRIS POWELL//GATA GOLD COMMENTARIES: daily Dispatches

‘Silver is the new gold’ as Egyptians try to protect savings

Submitted by admin on Thu, 2024-02-08 15:04 Section: Daily Dispatches

By Sarah El Safty and Farah Saafan
Reuters
Thursday, February 8, 2024

CAIRO — Egyptian women traditionally receive a gold jewellery set, or “shabka”, on their engagement. But as surging prices and a weakening currency have driven up demand for the precious metal, some are getting silver instead.

The trend is a measure of an economic crisis in which inflation has been running at more than 30% and the central bank has allowed the currency to weaken 50% against the dollar, with more devaluation expected

“Silver is the new gold,” said a salesman at a Cairo silver store who only gave his first name, Abanob.

In the year to Jan. 30, the price of a gram of 21-carat gold rose more than 120% to 3,875 Egyptian pounds ($126), data from the Federation of Egyptian Chambers of Commerce showed.

Demand for gold coins and bars surged nearly 58% from 2022 to 2023, according to the World Gold Council’s annual report.

Eman Mahmoud, a 51-year-old mother of three, said she had to opt for silver when buying jewellery for a friend’s new baby.

“A small 18-carat earring weighing less than a gram is more than 3,000 pounds. I can’t afford that as a gift anymore so I bought a silver necklace for around 1,900,” she said. …

… For the remainder of the report:

https://www.reuters.com/markets/commodities/silver-is-new-gold-egyptians-try-protect-savings-2024-02-08

END

a must view….

China, Russia will conquer world with ‘nuclear option’ in gold, Maguire says

Submitted by admin on Fri, 2024-02-09 21:01 Section: Daily Dispatches

9p ET Friday, February 9, 2024

Dear Friend of GATA and Gold:

Central banks are turning “paper” gold on the New York Commodities Exchange into real metal via conversion to “exchange for physicals” redeemable in London, metals trader Andrew Maguire tells this week’s edition of Kinesis Money’s “Live from the Vault” program.

Maguire adds that China and Russia have accumulated far more gold than Western nations and their revaluing it upward — the “nuclear option” in the world financial system — will be far more effecive in defeating the West than any conventional war. Maguire sees such a revaluation drawing near.

The program is 35 minutes long and can be viewed at YouTube here:

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

4. OTHER GOLD 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/

Bitcoin soars above $50,000. This is what gold will trade once Bitcoin goes to its intrinsic value of zero

(zerohedge)

Bitcoin Soars Above $50,000 For The First Time Since Dec 2021, After Surge In ETF Inflows

MONDAY, FEB 12, 2024 – 12:43 PM

Three weeks ago, when the general public was confused by the relentless selling in crypto following the launch of the long-awaited Bitcoin ETFs, we explained that this was the result of aggressive liquidation by the bankrupt FTX which was dumping billions in previously locked up assets at the GBTC bitcoin trust, which it would then use to fund recoveries for FTX unsecured creditors.

Sure enough, since then GBTC outflows have slowed to a trickle, even as inflows in the various new spot bitcoin ETFs have picked up, and in fact in the latest update this morning, we just saw another surge of inflows into the bitcoin ETF complex – amounting to over $500 million – led by $250MM inflows into the Fidelity FBTC ETF, which have brought the total net inflow (excluding continued GBTC outflows) to the highest level in February, and second highest on record.

And now that the Bitcoin ETF use case is starting to get daily validation and even Bloomberg is writing that ETFs are “starting to show steady inflows”, moments ago Bitcoin topped $50,000 for the first time since Dec 2021 as the continued allocation of cash into the space from various investors is tracking risk appetite rising across financial markets.

As shown below, bitcoin surged as much as 4% to $50,250 on Monday, rising above the YTD high of $48,000 on Jan. 12, the day after the ETFs began trading. After being weighed down initially by outflows from the Grayscale Bitcoin Trust, the funds have seen net inflows for nine consecutive trading sessions through Wednesday, data compiled by Bloomberg show.

“Bitcoin appears set to resume its march up after the Grayscale outflows finally tapered off,” said Caroline Mauron, co-founder of digital-asset derivatives liquidity provider Orbit Markets, and confirming what we said two weeks ago.

“We expect the Bitcoin halving narrative to gather momentum over the next few weeks, which should help drive a rally through the psychologically important $50,000 level,” Mauron said, referencing the event anticipated in April where the blockchain’s network protocol will reduce rewards for verifying transactions by half.

The halving cuts the quantity of Bitcoin that miners receive for operating power-hungry computers that secure the network by solving complex puzzles. Halving is key to capping the supply of Bitcoin at 21 million tokens. Rewards drop to 3.125 coins per block from 6.25 coins in the upcoming event. And while the market is increasingly excited about the bitcoin halving, it appears to have completely forgotten that the supply of ETH tokens is actually declining now due to the burn rate consistantly above the rate of issuance, making ether the first currency whose circulation is decreasing.

Curiously after hitting a multi-year high of $2700 in January, ether has been lagging, however that may be temporary because as Standard Chartered laid out last week, ETH will likely hit $4,000 by May as the market frontrun the next major ETF approval by the SEC, that of Ethereum ETFs.

end

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

ONSHORE YUAN: CLOSED

OFFSHORE YUAN: DOWN TO 7.2159

SHANGHAI CLOSED

HANG SENG CLOSED

2. Nikkei closed

3. Europe stocks SO FAR: MOSTLY ALL GREEN

USA dollar INDEX UP TO 104.05 EURO FALLS TO 1.0769 DOWN 7 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +.720 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 148.99/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 UP /JAPANESE Yen UP CHINESE ONSHORE YUAN: XXX// OFFSHORE: XXX

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 DOWN TO +2.3364***/Italian 10 Yr bond yield DOWN to 3.885* /SPAIN 10 YR BOND YIELD DOWN TO 3.300…**

3i Greek 10 year bond yield DOWN TO 3.354

3j Gold at $2021 silver at: 22.96 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 29 /100 roubles/dollar; ROUBLE AT 91.19//

3m oil into the 76 dollar handle for WTI and 81 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 148.99// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.720% 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 0.8755 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9429 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: 4.162 DOWN 3 BASIS PTS…

USA 30 YR BOND YIELD: 4.360 DOWN 2 BASIS PTS/

USA 2 YR BOND YIELD: 4.457 DOWN 3 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 30.67…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: DOWN 2 BASIS PTS AT 4.076

end

2.a Overnight: Newsquawk and Zero hedge

Futures Flat As Tech Stocks Extend Gains

MONDAY, FEB 12, 2024 – 08:07 AM

After a record-matching 14 weeks of gains in the past 15 pushed the S&P to a new all-time high above 5000 last week on unbridled optimism about eventual Fed rate cuts and easing inflation pushed, S&P futures traded flat and near the top of Friday’s range, as traders paused their relentless buying after That said, the rally in Big Tech that lifted the S&P 500 above 5,000 for the first time on Friday looked set to extend, as Amazon.com. Nvidia Corp. and Tesla ticked higher in premarket trading. Moves beyond those standouts were muted, in S&P 500 and Nasdaq 100 futures trading as well as for US Treasuries and the dollar. Bitcoin traded around $48,000 after almost reaching $49,000 during the weekend on accelerating inflows into various bitcoin ETFs.

In premarket trading, Diamondback Energy shares edged up 1% after the company reached an agreement to buy fellow Texas oil-and-gas producer Endeavor Energy through a $26 billion deal. Bioxcel Therapeutics gained 24% after the company said it received fast track designation from the FDA for a treatment aimed at small cell neuroendocrine prostate cancer. Here are some other notable premarket movers:

Joby Aviation rises 5.2% as the company signed an agreement with Dubai’s Road and Transport Authority that grants it the exclusive right to operate air taxis in the Emirate for six years.
Monday.com falls 9.7% after 4Q results weren’t enough to push the application software company higher as shares have soared nearly 90% since October.
Rivian slips 4% after Barclays cut the recommendation on the electric vehicle maker’s stock, citing increased signs of pessure in demand amid a broader EV slowdown.
Trimble drops 4.9% after providing a 1Q forecast that disappointed.

The market’s next highlights will be Tuesday’s CPI report and follows Friday’s historical CPI revisions, which proved to be a non-event. US inflation rate is forecast to have dropped to 2.9% YoY in January from 3.4% the prior month, according to the median economic estimate. That would be the first reading below 3% since March 2021, supporting a disinflationary trend that will determine the scope and timing of Federal Reserve rate cuts.

“As long as we see this gradual progress down, they should be in a position where they can feel confident of wanting to cut,” said Pooja Sriram, US economist at Barclays, referring to Fed policymakers. “It still looks like we are at a place where interest rates are elevated, they could bite into the economy and maybe there is scope for those to start to be pared. There really is no reason to keep rates at these levels for very long,” she added in an interview with Bloomberg TV.

Meanwhile, swaps markets suggest the Fed will carry out just four rate cuts in 2024, down from seven forecast at the end of last year, and only slightly more than the three penciled in by policymakers.

“Market pricing is trying to encourage central banks to get going and start cutting rates. Arguably, the market has been overexuberant in its encouragement recently,” Iain Stealey, international chief investment officer for fixed income at J.P. Morgan Asset Management, wrote in a note to clients. “Employment has remained strong, purchasing managers’ surveys are healthy and economic growth is robust.”

European stocks start the week on the front foot, following another record Wall Street close on Friday. The Stoxx 600 adds 0.4%, led by gains in real estate, consumer product and construction shares while technology shares are the biggest laggards. Here are the biggest movers Monday:

Thule rises as much as 1.7%, extending Friday’s 6.8% earnings-triggered gains, after the Swedish bicycle and outdoor accessories maker saw its price target increased by several brokers
Nordex shares rise as much as 6.8% after delivering a stronger finish to 2023 following the cautious commentary issued in 3Q, with analysts saying this should bolster confidence
SSP Group advances as much as 2% after announcing it has bought Airport Retail Enterprises, which runs 62 bars, restaurants and cafes across seven Australian airports
Tod’s rises as much as 18% in Milan and trades just below the value of an offer from LVMH-backed buyout firm L Catterton’s for a 36% stake in the luxury shoe firm. Citi sees the news fueling M&A speculation across the sector
UK Commercial Property REIT gains as much as 6.1% to hit its highest level since September 2022 after agreeing terms on a possible all-share merger with peer Tritax Big Box REIT, which falls as much as 1.7%
Komax gains as much as 2.1% after UBS raised the recommendation to neutral from sell, saying the contraction is now priced in and adding it sees a potential inflection in 2H of this year for the Swiss wire processing machine manufacturer.
Saras shares drop as much as 7.3% after the Moratti family agreed to sell its controlling stake in the oil refiner to Vitol at €1.75/share, well below the €2.20 level reported last week

Earlier in the session, Asian stocks were little changed amid muted trading volumes with many markets in the region closed for holidays, as investors look ahead to US inflation data for clues on Federal Reserve policy. The MSCI Asia Pacific excluding Japan Index dipped less than 0.1%, with CSL and Fisher & Paykel among the biggest drags while ANZ Group and Bank Rakyat rose. Markets in Greater China, Japan, South Korea and Singapore were shut. Stocks fell in Australia, New Zealand and the Philippines while shares in Indonesia rose and Indian benchmarks were little changed. With Chinese trading paused for Lunar New Year, cues on the US interest rate trajectory from consumer price figures due Tuesday will be key for regional market sentiment this week.

Australia’s ASX 200 declined amid underperformance in healthcare and the commodity-related sectors, with the former the worst-hit amid losses in CSL after top-line results from the Phase 3 trial of its cardiovascular drug failed to meet the primary efficacy endpoint.
Indian stocks slid for the third time in four sessions, led by media firms and state-owned lenders. The S&P BSE Sensex fell 0.7% to 71,072.49 as of 3:45 p.m. in Mumbai, while the NSE Nifty 50 Index declined 0.8% to 21,616.05. Mid- and small-cap gauges saw deeper cuts, with the latter falling by more than 3% in its worst-single day slump since Dec. 20.

In FX, the Bloomberg Dollar Spot Index is flat. The Kiwi is the biggest mover among the G-10s, falling 0.4% versus the greenback – it was the biggest gainer on Friday. The yen held near a two-month low reached on Friday following comments from central bankers that the Bank of Japan will take its time raising rates. Japan’s currency has weakened against all its Group-of-10 peers this year.

In rates, Treasuries slightly richer across the curve amid bigger gains in core European rates. 10-year TSY yields are hovering around 4.17% while Bunds and gilts are higher. US yields richer by 1.5bp-2bp across the curve leaving spreads within 1bp of Friday’s close; 10-year around 4.155% trails bunds and gilts in the sector by 2.5bp and 3bp. Bunds led the move after ECB’s Fabio Panetta in weekend comments said the time for interest-rate cuts “is fast approaching.” Monday’s US session has few scheduled events, although corporate issuance slate is expected to be busy ahead of Tuesday’s CPI data. The Dollar issuance slate empty so far, though $30 billion is projected for week, anticipated to be concentrated on Monday ahead of January CPI release Tuesday; Treasury auctions resume Feb. 21 with 20-year bond sale.

In commodities, oil prices decline after the Iranian foreign minister said the war in Gaza could be nearer to a diplomatic solution. WTI drops 0.9% to trade near $76.20. Spot gold falls 0.2%.

Bitcoin (+0.9%) is modestly firmer and holds just beneath USD 48k, while Ethereum is softer on the day

Looking at today’s US calendar, we get the January New York Fed 1-year inflation expectations (11am) and monthly budget statement (2pm); ahead this week are CPI, retail sales, industrial production and PPI

Market Snapshot

S&P 500 futures little changed at 5,044.00
STOXX Europe 600 up 0.3% to 486.43
MXAP little changed at 167.25
MXAPJ down 0.2% to 510.83
Nikkei little changed at 36,897.42
Topix down 0.2% to 2,557.88
Hang Seng Index down 0.8% to 15,746.58
Shanghai Composite up 1.3% to 2,865.90
Sensex down 0.6% to 71,162.93
Australia S&P/ASX 200 down 0.4% to 7,614.92
Kospi up 0.4% to 2,620.32
German 10Y yield little changed at 2.37%
Euro down 0.1% to $1.0773
Brent Futures down 0.5% to $81.74/bbl
Gold spot down 0.1% to $2,022.88
U.S. Dollar Index little changed at 104.14

Top Overnight News

China’s carbon emissions could peak years earlier than previously anticipated (and perhaps as soon as this year) thanks to the country’s staggering adoption of renewables. WSJ
Egypt warns Israel the decades-old peace pact between the two countries could be compromised if IDF actions in Gaza send a flood of refugees into the Sinai. NYT
Biden and Netanyahu are closer to a breach than at any point in the Gaza war as the White House no longer views the Israeli PM as a productive partner. WaPo
US and UK air strikes have reduced the risk to vessels from attacks by Yemen’s Houthis in the Red Sea but there is little prospect of many shipping companies making a swift return to the Suez Canal, security experts and a senior executive have said. FT
Saudi Arabia decided to halt its oil capacity expansion plans because of the energy transition, its energy minister said on Monday, adding that the kingdom has plenty of spare capacity to cushion the oil market. RTRS
Italy’s new central bank chief has said the time for cutting interest rates is “fast approaching” and dismissed fears of a fresh inflationary spiral, in the latest sign that pressure is mounting to loosen eurozone monetary policy. FT
The Federal Reserve is set to press ahead with plans to cut rates despite an unexpected surge in jobs growth in January, with a $7tn immigration-led economic boost and fewer job vacancies convincing officials the labor market is unlikely to trigger inflation. FT
Donald Trump said he had warned Nato allies that he would encourage Russia to do “whatever the hell they want” if alliance members failed to meet defense spending targets, highlighting the risk to the military pact if he wins a new term in the White House. FT
Diamondback will buy Endeavor in a $26 billion deal that’ll create the largest pure-play operator in the Permian Basin. Diamondback will fund the deal through a combination of cash and stock. WSJ

A more detailed look at global markets courtesy of Newsquawk

APAC stocks were subdued amid quiet weekend newsflow and mass closures in the region as markets in China, Hong Kong, Taiwan, Japan, South Korea, Singapore, Malaysia & Vietnam were all shut for holiday. ASX 200 declined amid underperformance in healthcare and the commodity-related sectors, with the former the worst-hit amid losses in CSL after top-line results from the Phase 3 trial of its cardiovascular drug failed to meet the primary efficacy endpoint. Nifty 50 was pressured with some of the worst-performing stocks in the index suffering post-earnings.

Top Asian News

RBNZ Governor Orr said it is concerning that the population is growing so rapidly at a time when residential construction is slowing, while he added that inflation is still too high which is why they have kept the Cash Rate at 5.50%
RBNZ Deputy Governor Hawkesby said New Zealand’s financial system remains strong and prices have stabilised in house markets over the last six months, as well as noted that the system can cope with high interest rates.

European bourses, Stoxx600 (+0.4%), are generally firmer, with the exception of the FTSE 100 (-0.3%), which is hampered by losses in AstraZeneca (-2.2%) after PT cuts. European sectors are almost entirely in the green; Consumer Products and Services is propped up by a Tod’s (+16.9%) bid, which has lifted Luxury. Healthcare is hampered by AstraZeneca, as mentioned. US equity futures (ES U/C, NQ +0.1%, RTY +0.3%) are trading around flat with the ES continuing to hold above the 5k mark. Slight outperformance in the RTY, extending on Friday’s strength.

Top European News

ECB’s Centeno said he prefers interest rates to decline gradually and in a steady way instead of dropping more rapidly, while he added that the indicators they have shown that inflation has been falling, according to Bloomberg.
ECB’s de Cos said March staff projections will be key to assessing whether they can be sufficiently confident that the 2% medium-term target, according to Bloomberg.
ECB Panetta said the time for a reversal of the ECB’s monetary policy stance is fast approaching and that they must weigh the pros and cons of cutting rates “quickly and gradually” vs “later and more aggressively” which could stoke market volatility, while he added any speculation on the exact timing of monetary policy easing would be a sterile exercise and disrespectful to the Governing Council.
European Union reached a tentative agreement on fiscal reform that will aim to reduce debt and protect investment in key areas such as defence and the green transition, according to Bloomberg.
Gertjan Vlieghe (ex-MPC), and Clare Lombardelli (an ex-Treasury official now at the OECD in Paris), are the leading contenders to replace BoE Deputy Governor Ben Broadbent, according to The Times.
Finland’s former PM Stubb is to become the country’s next President after winning 52% of votes in the second round of the presidential election held on Sunday.
Fitch affirmed Finland at AA+; Outlook Stable, while S&P affirmed Denmark at AAA; Outlook Stable.
ECB’s Lane’s speech on “Euro area international financial flows: analytical insights and measurement challenges” Speech was analytical in nature and did not contain commentary in relation to monetary policy / wages

DXY saw a dip to 103.89 (10DMA) in early European trade, taking out Friday’s low of 103.95 before recovering to current levels just above 104.00; Friday’s high at 104.26 is still in place, 104.18 the current peak.
EUR is trivially softer vs. the USD after a brief foray above the 1.08 mark in quiet newsflow. A more sustained breach of 1.08 could bring the 200DMA into view at 1.0830 with the 21DMA just above at 1.0836.
JPY experiences relatively steady trade with the pair maintaining 149.00 status, Japanese participants away from the market overnight. For now, broadly contained in Friday’s 149.00-57 range.
NZD the laggard across the majors vs. the USD despite hawkish-leaning RBNZ comments. NZD/USD still within Friday’s range of 0.6093-0.6158 and stuck in consolidation mode after the mid-Jan sell-off.

Fixed Income

USTs are little changed on the day, with no cash trade overnight due to Tokyo being on holiday for Foundation Day. Session ahead thin from a data perspective aside from the NY Fed SCE so focus will be on Fed speak from voters Bowman & Barkin before non-voter Kashkari.
Bunds are contained, with slight pressure seen as oil lifted from lows but within earlier ranges. ECB’s Lane added little so attention turns to de Cos who will be joined with Lane once again; 133.36-133.66 bounds are within Friday’s range. Initial modest bid attributed to weekend remarks from Panetta.
Gilt price action is in-fitting with the above and ultimately will take impetus from a busy particularly UK schedule this week. Before that, BoE Governor Bailey is set to speak; 10yr yield remains around the 4.0975 YTD high from Friday.

Commodities

Crude price action is choppy and ultimately remains subdued despite the heightened geopolitical landscape and some verbal intervention from Saudi, with the Saudi Energy Minister stating OPEC+ is ready to tweak supply up or down as required by the market; Brent Apr touched a low of USD 81.26/bbl.
Mixed trade across precious metals with spot gold flat intraday amidst a relatively contained Dollar ahead of tomorrow’s US CPI metrics; XAU resides within recent ranges around USD 2,025/oz with the 50 DMA (USD 2,032.86/oz) to the upside.
Subdued but contained trade across base metals with the complex also influenced by the Chinese New Year break which sees Chinese participants return in a week.
Saudi Energy Minister said there is a huge cushion when asked if 1.5-2mln BPD is sufficient spare capacity; adds oil demand is consistently bigger than some projections; Ready to tweak supply up or down as required by the market. “Prince Abdulaziz said there was a lot of misinterpretation around the decision to stick to the 12 million bpd MSC… he noted that increased gas production will be able to free up more of Aramco’s oil”, according to Energy Intel. When asked if Saudi is comfortable with OPEC demand projections for 2024 and 2025, says OPEC’s job is not to be comfortable, “our job is to be attentive”. OPEC ready to tweak policy at any time.
Saudi Aramco CEO says not in agreement there will be peak demand; expects 104mln BPD demand in 2024 and 105mln BPD in 2025 A rebound in the crude complex was seen in tandem with these comments.
BHP (BHP AT) was notified by iron ore train drivers that they will conduct a 24-hour stoppage this Friday. BHP responded that it is reviewing a revised set of claims provided by union representatives and believes an agreement can be reached without the need for protected action, while it has contingency plans if the action goes ahead.

Geopolitics: Middle East

Israeli military conducted a series of strikes on southern Gaza and said two hostages were freed by special forces in Rafah, while it was reported that dozens were killed and injured in the strike on Rafah, according to Reuters.
Israeli PM Netanyahu pushed back against international concerns regarding Israel’s preparation to enter the southern Gaza city of Rafah and stated that those who say not to enter Rafah are basically saying lose the war, according to Politico. It was separately reported that Israeli PM Netanyahu said enough of the 132 remaining hostages are still alive to warrant the kind of efforts they are making.
US President Biden and Israeli PM Netanyahu held a phone call in which Biden emphasised the need to capitalise on progress made in the negotiations to secure the release of all hostages as soon as possible, while Biden called for urgent and specific steps to increase the throughput of humanitarian aid to Palestinian civilians. Furthermore, Biden reaffirmed his view that a military operation in Rafah should not proceed without a plan to ensure the safety of 1mln people sheltering there and they both agreed to remain in close contact, according to Reuters.
US senior official said real progress was made over the last few weeks on a framework deal for the release of hostages and ‘it’s pretty much there’ although there are still significant gaps that need to be closed, while the official said they do not support a military operation in Rafah under current circumstances and that Israelis made it clear they see the safety of civilians as a clear precondition for operations in Rafah, according to Reuters.
Hamas said any Israeli ground offensive in Rafah would blow up exchange talks, while it was later stated that Israel’s attack on Gaza’s Rafah is a continuation of the genocidal war and forced displacement attempts it wages against Palestinians.
Iran’s Foreign Minister said any step by Israel towards a widespread attack on Lebanon would be Israeli PM Netanyahu’s final day and only a political solution can resolve the Gaza conflict, according to Reuters.
US Central Command said its forces conducted self-defence strikes against two unmanned surface vessels and three anti-ship cruise missiles north of Yemen’s Hodeidah on Saturday.
US-led coalition’s air defence systems blocked six drone attacks at Conoco oil field in eastern Syria.
Iraq and the US are in talks to set a timetable for a gradual phase-out of US-led coalition forces mission in Iraq.
Yemeni Houthis said they targeted Star Iris in the Red Sea, according to Reuters citing the group’s military spokesmen.
Israel PM Netanyahu says Israel will not pass up on any chance to free hostages. Adds, that military pressure should be sustained until “Gaza victory”

Geopolitics: Other

Ukraine’s military intelligence released an intercept it said confirms the use of Starlink by Russian forces on the battlefield. However, it was separately reported that Elon Musk denied a number of false news reports that claim SpaceX is selling Starlink terminals to Russia and said to his knowledge, no Starlinks have been sold directly or indirectly to Russia, according to Reuters.
Ukrainian President Zelensky appointed former Deputy Defence Minister Pavliuk as the new ground forces chief, according to Reuters.
Former US President Trump said he would “encourage” Russia to attack any NATO member country that didn’t meet its financial obligations to the defence alliance, while a White House spokesperson said encouraging invasions of allies is appalling and unhinged.
NATO said any suggestions that allies will not defend each other undermines all of their security including the US’ and puts American and European soldiers at increased risk, while it added that any attack on NATO will be met with a united and forceful response.
North Korea said it has developed a rocket launcher controller, according to KCNA.

US event calendar

11:00: Jan. NY Fed 1-Yr Inflation Expectations, prior 3.01%
14:00: Jan. Monthly Budget Statement, est. -$21b, prior -$129.4b

Central Bank Speakers

09:20: Fed’s Bowman Speaks at Community Bank Conference
12:00: Fed’s Barkin Speaks at Atlanta Economics Club Event
13:00: Fed’s Kashkari Moderates Economic Club of Minnesota Discussion

DB’s Jim Reid concludes the overnight wrap

After the US election campaign threw up renewed conversations about NATO over the weekend, note that we have a call next week (Thursday 22nd at 14:30 GMT) on “Themes and Trade Ideas for US Election Scenarios”. Register here to take part.

On another topical theme, Karthik Nagalingam in my Credit team has just put out a note this morning on how $IG banks can continue to outperform despite CRE risks. Much of the $IG bank universe has a fairly low concentration in CRE exposure. See the piece here for more details.

Welcome to Valentines’ week and a reminder that you have two days to prepare the right gift. My wife instigated the “we’re not bothering getting each other anything this year are we?” conversation last night. While I said “no that’s fine” I’m now wondering whether that was a double bluff. The stress!

Has the sharp inflation falls of the last few quarters been a double bluff? We’ll find out a bit more this week with US CPI tomorrow the obvious focal point. Elsewhere in the US the main highlights will be the NY Fed 1yr inflation expectations (today), Retail Sales/Industrial Production/Factory Orders (Thursday), housing data through the week, and the University of Michigan consumer survey (Friday). There is also plenty of Fed speak that you can see, alongside the other global highlights, in the week ahead calendar at the end as usual. Today sees three Fed speakers; Bowman (hawk), Barker (neutral) and Kashkari (hawk).

In Europe, UK inflation on Wednesday will be a highlight and will be preceded by UK employment numbers tomorrow and followed by Retail Sales on Friday. On the continent, the German ZEW survey is out tomorrow, with Eurozone Q4 GDP on Wednesday. In Asia we have Chinese New Year which will keep things quiet but Japanese Q1 GDP (Wednesday) might be of note with the end of NIRP potentially on the horizon. This is the same day as the election in Indonesia.

With regards to US CPI tomorrow our economists’ preview here suggest that with seasonally adjusted gas prices down almost -2.5% from December, they expect headline CPI (+0.15% forecast vs. +0.23% previously, consensus +0.2%) to undershoot core (+0.27% vs. +0.28%, consensus +0.3%). This would equate to core YoY CPI inflation falling two-tenths to 3.7%, while that for headline would fall by four-tenths to 2.9% (both in line with consensus). The three-month annualised rate would rise two-tenths to 3.5% while the six-month annualised rate would tick up a tenth to 3.3% largely due to base effects. PPI on Friday is also important as some of the subcomponents inform forecasts for the core PCE and an hour or so later the inflation expectations in the UoM consumer survey will round up the big week for US inflation.

It really is quiet this morning with most markets either shut for Chinese New Year or National Day in Japan. Half-term season also kicks off in Europe today so this might not be the most active week unless CPI shatters the silence. US stock futures are pretty flat.

Recapping last week now and we saw a further breakdown of the positive bond-equity correlation that had been in place between the QRA in August and early this year. This came after fresh evidence of a robust US economy helped push equities up but saw fixed income sell off. In fact, in equities it was another week for record breaking, as the S&P 500 hit another all-time high, finishing Friday above the 5000 level for the first time. This was thanks to a +1.37% gain over the week (and +0.57% on Friday), the fifth consecutive week of gains for the index and the 14th out of last 15 weeks.

But the rally was still relatively concentrated. The equal-weighted S&P 500 increased a more modest +0.47% (+0.15% on Friday) and it was the IT sector (+1.50% in the S&P), including the Magnificent Seven (+2.98%), that drove last week’s rally again. Semiconductors were the most prominent outperformer, as the Philadelphia Semiconductor Index jumped +5.32% (and +1.99% on Friday) following strong results from chipmaker ARM and an announcement by Nvidia that it was in talks with top AI firm OpenAI on designing specialised chips. US regional banks recovered on Friday, with the regional banking KBW index up +1.85% (but still -1.31% lower on the week) as New York Community Bank rose by +16.9% on news that its management had bought additional shares. That said, NYCB was -18.9% lower on the week, drawing further attention to turmoil in the CRE market. The STOXX 600 rose a more modest +0.19% last week (and -0.09% on Friday).

With data pointing to a more robust US economy, investors reduced expectations of rate cuts in 2024, driving the expected rate for the December meeting up +12.1bps last week (and +3.5bps on Friday), to 4.20%. It was a similar story in Europe, as investors dialled back expectations of ECB cuts by -13.0bps (-4.1bps on Friday) as comments from central bank speakers pointed to caution on the timing and pace of rate cuts. Adding to the lingering inflation concerns, Brent crude oil prices surged +6.28% to $82.19/bbl (and +0.69% on Friday) after Israel rejected a ceasefire offer from Hamas, with news that the US may be looking to strengthen enforcement of sanctions against Iranian oil adding to the upside.

Against this backdrop, 10yr yields rose +15.4bps last week, and 2yr yields by +11.6bps. There was a brief relief rally in yields on Friday following the tame US CPI revisions, but this then reversed with the 10yr finishing the day up +2.1bps to 4.18%, its joint highest close since the December FOMC meeting. 10yr bund yields rose +14.0bps (and +2.7bps on Friday).

Let’s see what CPI brings this week.

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

Equities firmer and US equities little changed, NZD lags & Crude lower; NY Fed Survey of Consumer Expectations due – Newsquawk US Market Open

MONDAY, FEB 12, 2024 – 05:55 AM

European equities are generally firmer, though the FTSE 100 lags, hampered by AstraZeneca; US equity futures are around flat, with slight outperformance in the RTY
Dollar is marginally firmer, the Kiwi underperforms despite hawkish-leaning speak from RBNZ officials overnight
Bonds are little changed amid catalyst thin trade and will likely take impetus from upcoming central bank speak
Crude is softer on the session despite geopolitical escalation in Gaza; base metals are softer as Chinese participants remain on holiday
Looking ahead, US Federal Budget, NY Fed Survey of Consumer Expectations, Japanese Corporate Good Prices, BoC SLOOS, Comments from ECB’s, Lane, de Cos, Cipollone, RBA’s Kohler, Fed’s Barkin & Kashkari

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EUROPEAN TRADE

EQUITIES

European bourses, Stoxx600 (+0.4%), are generally firmer, with the exception of the FTSE 100 (-0.3%), which is hampered by losses in AstraZeneca (-2.2%) after PT cuts.
European sectors are almost entirely in the green; Consumer Products and Services is propped up by a Tod’s (+16.9%) bid, which has lifted Luxury. Healthcare is hampered by AstraZeneca, as mentioned.
US equity futures (ES U/C, NQ +0.1%, RTY +0.3%) are trading around flat with the ES continuing to hold above the 5k mark. Slight outperformance in the RTY, extending on Friday’s strength.
Click here and here for the sessions European pre-market equity newsflow.
Click here for more details.

FX

DXY saw a dip to 103.89 (10DMA) in early European trade, taking out Friday’s low of 103.95 before recovering to current levels just above 104.00; Friday’s high at 104.26 is still in place, 104.18 the current peak.
EUR is trivially softer vs. the USD after a brief foray above the 1.08 mark in quiet newsflow. A more sustained breach of 1.08 could bring the 200DMA into view at 1.0830 with the 21DMA just above at 1.0836.
JPY experiences relatively steady trade with the pair maintaining 149.00 status, Japanese participants away from the market overnight. For now, broadly contained in Friday’s 149.00-57 range.
NZD the laggard across the majors vs. the USD despite hawkish-leaning RBNZ comments. NZD/USD still within Friday’s range of 0.6093-0.6158 and stuck in consolidation mode after the mid-Jan sell-off.
Click here for more details.

FIXED INCOME

USTs are little changed on the day, with no cash trade overnight due to Tokyo being on holiday for Foundation Day. Session ahead thin from a data perspective aside from the NY Fed SCE so focus will be on Fed speak from voters Bowman & Barkin before non-voter Kashkari.
Bunds are contained, with slight pressure seen as oil lifted from lows but within earlier ranges. ECB’s Lane added little so attention turns to de Cos who will be joined with Lane once again; 133.36-133.66 bounds are within Friday’s range. Initial modest bid attributed to weekend remarks from Panetta.
Gilt price action is in-fitting with the above and ultimately will take impetus from a busy particularly UK schedule this week. Before that, BoE Governor Bailey is set to speak; 10yr yield remains around the 4.0975 YTD high from Friday.
Click here for more details.

COMMODITIES

Crude price action is choppy and ultimately remains subdued despite the heightened geopolitical landscape and some verbal intervention from Saudi, with the Saudi Energy Minister stating OPEC+ is ready to tweak supply up or down as required by the market; Brent Apr touched a low of USD 81.26/bbl.
Mixed trade across precious metals with spot gold flat intraday amidst a relatively contained Dollar ahead of tomorrow’s US CPI metrics; XAU resides within recent ranges around USD 2,025/oz with the 50 DMA (USD 2,032.86/oz) to the upside.
Subdued but contained trade across base metals with the complex also influenced by the Chinese New Year break which sees Chinese participants return in a week.
Saudi Energy Minister said there is a huge cushion when asked if 1.5-2mln BPD is sufficient spare capacity; adds oil demand is consistently bigger than some projections; Ready to tweak supply up or down as required by the market. “Prince Abdulaziz said there was a lot of misinterpretation around the decision to stick to the 12 million bpd MSC… he noted that increased gas production will be able to free up more of Aramco’s oil”, according to Energy Intel. When asked if Saudi is comfortable with OPEC demand projections for 2024 and 2025, says OPEC’s job is not to be comfortable, “our job is to be attentive”. OPEC ready to tweak policy at any time.
Saudi Aramco CEO says not in agreement there will be peak demand; expects 104mln BPD demand in 2024 and 105mln BPD in 2025 A rebound in the crude complex was seen in tandem with these comments.
BHP (BHP AT) was notified by iron ore train drivers that they will conduct a 24-hour stoppage this Friday. BHP responded that it is reviewing a revised set of claims provided by union representatives and believes an agreement can be reached without the need for protected action, while it has contingency plans if the action goes ahead.
Click here for more details.

NOTABLE EUROPEAN HEADLINES

ECB’s Centeno said he prefers interest rates to decline gradually and in a steady way instead of dropping more rapidly, while he added that the indicators they have shown that inflation has been falling, according to Bloomberg.
ECB’s de Cos said March staff projections will be key to assessing whether they can be sufficiently confident that the 2% medium-term target, according to Bloomberg.
ECB Panetta said the time for a reversal of the ECB’s monetary policy stance is fast approaching and that they must weigh the pros and cons of cutting rates “quickly and gradually” vs “later and more aggressively” which could stoke market volatility, while he added any speculation on the exact timing of monetary policy easing would be a sterile exercise and disrespectful to the Governing Council.
European Union reached a tentative agreement on fiscal reform that will aim to reduce debt and protect investment in key areas such as defence and the green transition, according to Bloomberg.
Gertjan Vlieghe (ex-MPC), and Clare Lombardelli (an ex-Treasury official now at the OECD in Paris), are the leading contenders to replace BoE Deputy Governor Ben Broadbent, according to The Times.
Finland’s former PM Stubb is to become the country’s next President after winning 52% of votes in the second round of the presidential election held on Sunday.
Fitch affirmed Finland at AA+; Outlook Stable, while S&P affirmed Denmark at AAA; Outlook Stable.
ECB’s Lane’s speech on “Euro area international financial flows: analytical insights and measurement challenges” Speech was analytical in nature and did not contain commentary in relation to monetary policy / wages

NOTABLE US HEADLINES

US senior administration official said as someone who works closely with President Biden, the Special Counsel’s claims about Biden’s memory are completely ridiculous.
US Defense Secretary Austin has transferred duties to Deputy Secretary during treatment in hospital, according to the Pentagon.
US Senate voted 67-28 to advance a foreign aid bill that puts legislation for a USD 95bln aid package for Ukraine, Israel and the Indo-Pacific on track for a vote on final passage later this week, although some Senate Republicans had reservations about moving forward with the aid package without border security provisions and others rejected the package flat out, which puts the legislation’s path forward into question, according to CBS News.

GEOPOLITICS

MIDDLE EAST

Israeli military conducted a series of strikes on southern Gaza and said two hostages were freed by special forces in Rafah, while it was reported that dozens were killed and injured in the strike on Rafah, according to Reuters.
Israeli PM Netanyahu pushed back against international concerns regarding Israel’s preparation to enter the southern Gaza city of Rafah and stated that those who say not to enter Rafah are basically saying lose the war, according to Politico. It was separately reported that Israeli PM Netanyahu said enough of the 132 remaining hostages are still alive to warrant the kind of efforts they are making.
US President Biden and Israeli PM Netanyahu held a phone call in which Biden emphasised the need to capitalise on progress made in the negotiations to secure the release of all hostages as soon as possible, while Biden called for urgent and specific steps to increase the throughput of humanitarian aid to Palestinian civilians. Furthermore, Biden reaffirmed his view that a military operation in Rafah should not proceed without a plan to ensure the safety of 1mln people sheltering there and they both agreed to remain in close contact, according to Reuters.
US senior official said real progress was made over the last few weeks on a framework deal for the release of hostages and ‘it’s pretty much there’ although there are still significant gaps that need to be closed, while the official said they do not support a military operation in Rafah under current circumstances and that Israelis made it clear they see the safety of civilians as a clear precondition for operations in Rafah, according to Reuters.
Hamas said any Israeli ground offensive in Rafah would blow up exchange talks, while it was later stated that Israel’s attack on Gaza’s Rafah is a continuation of the genocidal war and forced displacement attempts it wages against Palestinians.
Iran’s Foreign Minister said any step by Israel towards a widespread attack on Lebanon would be Israeli PM Netanyahu’s final day and only a political solution can resolve the Gaza conflict, according to Reuters.
US Central Command said its forces conducted self-defence strikes against two unmanned surface vessels and three anti-ship cruise missiles north of Yemen’s Hodeidah on Saturday.
US-led coalition’s air defence systems blocked six drone attacks at Conoco oil field in eastern Syria.
Iraq and the US are in talks to set a timetable for a gradual phase-out of US-led coalition forces mission in Iraq.
Yemeni Houthis said they targeted Star Iris in the Red Sea, according to Reuters citing the group’s military spokesmen.
Israel PM Netanyahu says Israel will not pass up on any chance to free hostages. Adds, that military pressure should be sustained until “Gaza victory”

OTHER

Ukraine’s military intelligence released an intercept it said confirms the use of Starlink by Russian forces on the battlefield. However, it was separately reported that Elon Musk denied a number of false news reports that claim SpaceX is selling Starlink terminals to Russia and said to his knowledge, no Starlinks have been sold directly or indirectly to Russia, according to Reuters.
Ukrainian President Zelensky appointed former Deputy Defence Minister Pavliuk as the new ground forces chief, according to Reuters.
Former US President Trump said he would “encourage” Russia to attack any NATO member country that didn’t meet its financial obligations to the defence alliance, while a White House spokesperson said encouraging invasions of allies is appalling and unhinged.
NATO said any suggestions that allies will not defend each other undermines all of their security including the US’ and puts American and European soldiers at increased risk, while it added that any attack on NATO will be met with a united and forceful response.
North Korea said it has developed a rocket launcher controller, according to KCNA.

CRYPTO

Bitcoin (+0.9%) is modestly firmer and holds just beneath USD 48k, whilst Ethereum is softer on the day.

APAC TRADE

APAC stocks were subdued amid quiet weekend newsflow and mass closures in the region as markets in China, Hong Kong, Taiwan, Japan, South Korea, Singapore, Malaysia & Vietnam were all shut for holiday.
ASX 200 declined amid underperformance in healthcare and the commodity-related sectors, with the former the worst-hit amid losses in CSL after top-line results from the Phase 3 trial of its cardiovascular drug failed to meet the primary efficacy endpoint.
Nifty 50 was pressured with some of the worst-performing stocks in the index suffering post-earnings.

NOTABLE HEADLINES

RBNZ Governor Orr said it is concerning that the population is growing so rapidly at a time when residential construction is slowing, while he added that inflation is still too high which is why they have kept the Cash Rate at 5.50%
RBNZ Deputy Governor Hawkesby said New Zealand’s financial system remains strong and prices have stabilised in house markets over the last six months, as well as noted that the system can cope with high interest rates.

2C ASIA AFFAIRS

MONDAY MORNING/SUNDAY NIGHT

SHANGHAI CLOSED //Hang Seng CLOSED /The Nikkei CLOSED //Australia’s all ordinaries CLOSED DOWN 0.34% /Chinese yuan (ONSHORE) closed D

2 d./NORTH KOREA/ SOUTH KOREA/

NORTH KOREA/SOUTH KOREA

END

2e) JAPAN

JAPAN

END

3 CHINA

CHINA/USA

makes perfect sense! Biden has been compromised by China for years

(zerohedge0

Biden Announces He’s On TikTok, A Year After He Banned It On All Federal Devices

MONDAY, FEB 12, 2024 – 10:40 AM

Authored by Steve Watson via Modernity.news,

Joe Biden’s campaign announced Sunday that he is now on TikTok, despite the fact that Biden signed a bill banning the platform on all devices assigned to federal employees a year ago.

Biden’s X account reposted a cringe video from his campaign account in which he answers questions about his Super Bowl preferences.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

Several respondents pointed out that Biden signed into law a limited TikTok ban in December 2022 as part of the 4,126-page spending bill.

Furthermore, in March last year, Biden threatened to ban TikTok altogether unless the app’s Chinese owners agree to spin off their share of the social media platform.

The ultimatum was made by Biden’s Committee on Foreign Investment in the United States, in response to concerns about the amount of data TikTok trawls, and the platform’s links to the Chinese Communist Party.

In the same month, The U.S. House Foreign Affairs Committee voted to advance a bill, titled Deterring America’s Technological Adversaries, that would clear the way for a full ban on the app.

A similar bipartisan bill, called Restricting the Emergence of Security Threats that Risk Information and Communications Technology (“RESTRICT”) Act, was introduced in the Senate around the same time.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

Meanwhile, the president (presumably one of his interns) posted this after the game last night on his personal X account…

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

END

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

SWITZERLAND

We are witnessing a lot of these sort of things happening throughout the globe

(zerohedge)

Hostage-Taking Iranian Migrant Shot Dead By Swiss Police In Train Incident

SATURDAY, FEB 10, 2024 – 08:45 AM

Swiss police killed a 32-year-old Iranian asylum seeker who boarded a train armed with an axe and a knife and held 15 hostages for four hours while traveling between Baulmes and Yverdon-les-Bains in the western region of the country.

After rounding up 14 hostages, the man forced the train driver to leave his post and join them with the train stopped with its doors closed at a station.

Police, who were alerted by other passengers on the train, were able to board it at around 10:15 p.m. After sealing off the area to allow negotiators to establish contact via the hostages’ mobile phones, the police attacked at around 10:15 p.m., killing the man while the hostages – some of whom were tied up, all escaped safely, swissinfo.ch reports. A stun grenade was used to distract the attacker – footage of which was uploaded to X.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

hasanml

@Xilifok

#suisse #yverdon #prisedotage

4:38 PM · Feb 8, 2024

70K Views

“As the hostage-taker rushed with his axe in the direction of the intervention group, a police officer used his weapon to protect the hostages, fatally hitting the perpetrator,” said Christophe Sauterel, spokesperson for the Vaud cantonal police, who added that the man died on the spot.

The hostages and their families were supported by emergency support teams and a psychological unit. They were interviewed for the investigation at the end of the evening.

According to initial information, the 32-year-old man is an Iranian asylum seeker assigned to canton Neuchâtel who speaks Farsi and English. A Farsi-speaking interpreter took part in the negotiations.

The Vaud Public Prosecutor’s Office has opened a criminal investigation. “The man’s motivations have not been established, nor his psychological state,” said Attorney General Eric Kaltenrieder. It is also unclear where the hostage taker got on the train. -swissinfo.ch

Over 60 police officers and 30 rescue workers were involved in the incident

END

GERMANY

As we have highlighted to you over the past few years, Germany is now in real trouble as they go green. Distress is spreading to many of their sectors

Next two commentaries:

(zerohedge)

“Germany Is In Really Big Trouble”: Perfect Storm Of Terrible Trends Paints “Bleak” Picture As “Distress Is Spreading To Other Sectors”

SUNDAY, FEB 11, 2024 – 08:45 AM

Things are not great in Germany.

A confluence of economic stagnation, higher energy prices (due to anti-nuclear idiocy), and the highest corporate distress rates in Europe suggest Deutschland is in for a sharp contraction – a sentiment shared among fund managers, credit traders and crestfallen German executives moping around Davos last month, according to Bloomberg.

The bad news is continuing to pile up. After the economy shrank in the final quarter of last year, downbeat early surveys for 2024 signal there’s little respite ahead.

Demand from borrowers for investment in the likes of machinery, factories and technology has fallen, creating a risk that domestic growth is impeded in the longer term as companies focus on getting through the current struggle. And now there’s growing concern about some lenders’ exposure to the shaky US corporate real estate market. -Bloomberg

“Germany is really in trouble,” according to Barings fund manager Brian Mangwiro. “All the big manufacturing economies are slowing but, in Germany, this is compounded by higher energy costs. There are also challenges in the auto sector with competition coming from China.”

Meanwhile, German executives were decidedly in a bad mood at Davos last month – and were of the view that Europe’s largest economy could no longer be counted on for steady growth – and instead faces a period of chaos amid competition in everything from machinery to automobiles.

“The country’s economic outlook remains bleak,” reads the Weil European Distress Index, citing stagnant profitability on top of liquidity pressures.

Germany emerges as the most distressed market in Europe, influenced by several factors such as deteriorating investment metrics, liquidity pressures and stagnant profitability, which have persisted since the beginning of the year. The country’s economic outlook remains bleak, with both its government and the European Commission projecting a 0.4% contraction in its economy for 2024 due to high inflation, elevated energy prices and sluggish international trade. –European Distress Index

What’s more, rising interest rates over the past two years have compounded problems – particularly in the property market. On Wednesday, Morgan Stanley analysts told clients to sell senior bonds linked to Deutsche Pfandbriefbank AG due to the lender’s high exposure to the US Commercial Real-Estate market.

Shares of Pfandbriefbank have slid about 15% this month, while other German financial institutions have had significant declines in a Bloomberg index of euro-dominated bank bonds – including a €750 million AT1 by Landesbank Baden-Wuerttemberg and €300 million note by Aareal Bank AG on Tuesday.

According to Bloomberg, over $13.6 billion of loans and bonds issued by German companies were distressed last month – over 13x that of Italy.

“Distress is spreading to other sectors,” beyond real estate, construction and retail – according to Christian Ebner, managing director of Alvarez & Marsal’s financial restructuring advisory team. “Manufacturing is starting to be affected,” he continued – adding that automotive “will continue to be a problem child.”

Also a factor is Germany’s changing politics – with Deutsche Bank AG Chief Executive Officer Christian Sewing recently expressing concern that the conservative AfD party is contributing to declining investments.

Finance Minister Christian Lindner wasted no opportunity to agree.

“The AfD is a location risk,” he said Monday. “This is a party that’s calling into question the basic consensus of our country, namely European integration.”

Opportunities abound?

While German executives fret, other Davos attendees smelled blood in the water – as whispers among bankers and advisers have revealed a significant uptick in interest from private equity firms and direct lenders, according to the report.

Leading the charge, according to insights from a Bloomberg Television interview, is Victor Kholsa, founder and chief investment officer at Strategic Value Partners. Kholsa wants to secure high-rate loans, and/or acquire significantly leveraged companies, by injecting much-needed equity.

According to Kholsa, there’s an “opportunity to make those high rate loans or to buy companies that are pretty levered where you inject equity,” adding “That opportunity set we can really see.”

The trend is underscored by the arrival of heavy hitters like Ares Management Corp. and Blackstone Inc., which have set up shop in Frankfurt with the aim of lending to German businesses or financing private equity buyouts. This influx of foreign capital seeking to capitalize on domestic distress signals a troubling dynamic, as entities such as Techem GmbH become transaction targets amidst a backdrop of quality concerns and lender takeovers due to breached loan agreements.

The scenario unfolding is not just limited to equity and debt markets. Short sellers are also in play, with a staggering €5.7 billion wager placed against German companies. Groups such as Qube Research & Technologies Ltd. are betting against national stalwarts including Deutsche Bank AG, Volkswagen AG, and Vonovia AG, pointing to a broader skepticism about the resilience of Germany’s corporate sector amidst economic turbulence.

Real Estate is screwed…

Reeling under the weight of declining residential prices and the specter of significant value declines for office spaces, the real estate sector’s woes have only been exacerbated by rising interest rates – with fallout that could precipitate severe writedowns for both borrowers and lenders. Entities like the Adler Group SA and Rene Benko’s Signa in particular are teetering on the edge of financial abysses – a precarious situation compounded by a banking sector that, despite past resilience, faces looming concerns over commercial real estate exposures and economic stagnation.

The Bundesbank warned in November that at the start of 2023, the “present value of the banking book” was negative for 15 savings banks and 37 credit cooperatives,” adding they seem particularly vulnerable to an increase in interest rates. Since then, ECB rates have risen by 2 percentage points.

One-third of commercial real estate loans in Germany face higher borrowing costs over three years, which could cause credit defaults and impairments to rise more sharply, the watchdog said.

Fixed-income investors have become more reluctant to add exposure to lenders exposed to CRE, as seen in the issuance of covered bonds, the safest type of debt that banks can sell. Aareal Bank AG had to lean on its lead managers, who put €125 million in the order book, to get a €500m four-year offering over the line in January. Aareal declined to comment. -Bloomberg

The Bundesbank’s warnings about the vulnerabilities of savings banks and credit cooperatives to interest rate hikes underscore the fragility of the financial ecosystem. The potential for credit defaults and impairments looms large, with a significant portion of commercial real estate loans at risk. The reluctance of fixed-income investors to engage with lenders exposed to these risks highlights a growing crisis of confidence, even as companies and landlords cling to the hope of a rate reprieve under the mantra “Survive ‘Til 2025.”

END

(Mish Shedlock)

Germany’s Industrial Superpower Days Are Over, A Green “Victory”

MONDAY, FEB 12, 2024 – 07:20 AM

By Mish Shedlock of MishTalk

German Industrial production peaked in November of 2017. Germany’s IP has since fallen to a level first seen in 2006.

Bloomberg reports Germany’s Days as an Industrial Superpower Are Coming to an End

In a cavernous production hall in Düsseldorf last fall, the somber tones of a horn player accompanied the final act of a century-old factory.

Amid the flickering of flares and torches, many of the 1,600 people losing their jobs stood stone-faced as the glowing metal of the plant’s last product — a steel pipe — was smoothed to a perfect cylinder on a rolling mill. The ceremony ended a 124-year run that began in the heyday of German industrialization and weathered two world wars, but couldn’t survive the aftermath of the energy crisis.

The underpinnings of Germany’s industrial machine have fallen like dominoes. The US is drifting away from Europe and is seeking to compete with its transatlantic allies for climate investment. China is becoming a bigger rival and is no longer an insatiable buyer of German goods. The final blow for some heavy manufacturers was the end of huge volumes of cheap Russian natural gas.

“The shock was huge,” said Wolfgang Freitag, who worked at the plant since he was a teenager. The 59-year-old’s job now is to disassemble equipment for sale and help his old colleagues find new work.

Fading industrial competitiveness threatens to plunge Germany into a downward spiral, according to Maria Röttger, head of northern Europe for Michelin. The French tiremaker is shutting two of its German plants and downsizing a third by the end of 2025 in a move that will affect more than 1,500 workers. US rival Goodyear has similar plans for two facilities.

“Despite the motivation of our employees, we have arrived at a point where we can’t export truck tires from Germany at competitive prices,” she said in an interview. “If Germany can’t export competitively in the international context, the country loses one of its biggest strengths.”

High Power Bills

One of the hardest-hit sectors has been chemicals — a direct result of Germany’s loss of cheap Russian gas. With the transition to clean hydrogen still uncertain, nearly one in 10 companies are planning to permanently halt production processes, according to a recent survey by the VCI industry association. BASF SE, Europe’s biggest chemical producer, is cutting 2,600 jobs and Lanxess AG is reducing staff by 7%.

China is now causing trouble for Germany in a number of ways. On top of its strategic shift into advanced manufacturing, a slowdown of the Asian superpower’s economy is sapping demand for German goods even further. At the same time, cheap competition from China is worrying industries key for Germany’s climate transition — and not just electric cars.

Manufacturers of solar panels are shuttering operations and cutting staff as they struggle to compete with state-supported Chinese rivals. Dresden-based Solarwatt GmbH has already cut 10% of its workforce and may relocate production abroad if the situation doesn’t improve this year, according to CEO Detlef Neuhaus.

“It’s not just energy,” CEO Klaus Geißdörfer said in an interview. “It’s also staff availability in Germany, which is now very tense.” Within a decade, the working-age population will be too small to keep the economy functioning as it does today, he added.

Foreign Direct Investment Plunges

Politico comments on the deindustrialization of Germany in its report Rust on the Rhine.

Germany’s biggest companies are ditching the fatherland.

Chemical giant BASF has been a pillar of German business for more than 150 years, underpinning the country’s industrial rise with a steady stream of innovation that helped make “Made in Germany” the envy of the world.

But its latest moonshot — a $10 billion investment in a state-of-the-art complex the company claims will be the gold standard for sustainable production — isn’t going up in Germany. Instead, it’s being erected 9,000 kilometers away in China.

“We are increasingly worried about our home market,” BASF Chief Executive Martin Brudermüller told shareholders in April, noting that the company lost €130 million in Germany last year. “Profitability is no longer anywhere near where it should be.”

The country’s reliance on industry makes it particularly vulnerable. With the exception of software maker SAP, Germany’s tech sector is essentially non-existent. In the financial world, its biggest players are best known for making bad bets (Deutsche Bank) and scandal (Wirecard). Manufacturing accounts for about 27 percent of its economy, compared with 18 percent in the U.S.

A related problem is that Germany’s most important industrial segments — from chemicals to autos to machinery — are rooted in 19th-century technologies. While the country has thrived for decades by optimizing those wares, many of them are either becoming obsolete (the internal combustion engine) or simply too expensive to produce in Germany.

By halting deliveries of natural gas to Germany, the Kremlin effectively removed the linchpin of the country’s business model, which relied on easy access to cheap energy. Though wholesale gas prices have recently stabilized, they’re still roughly triple where they were before the crisis. That has left companies like BASF, whose main German operation alone consumed as much natural gas in 2021 as all of Switzerland, with no choice but to look for alternatives.

The country’s Green transformation, the so-called Energiewende, has only made matters worse. Just as it was losing access to Russian gas, the country switched off all nuclear power. And even after nearly a quarter century of subsidizing the expansion of renewable energy, Germany still doesn’t have nearly enough wind turbines and solar panels to sate demand — leaving Germans paying three times the international average for electricity.

Volkswagen, which has dominated the Chinese auto market for decades, lost its crown as the country’s largest automaker in the first quarter to BYD, a local competitor, amid a surge in EV sales. China is the world’s largest car market, accounting for nearly 40 percent of Volkswagen’s revenue.

Germany Lags in Major Ways

Germany lags the US and China on Artificial Intelligence (AI), EVs, battery development, microchips, phones and even basic internet services.

Liechtenstein has the fastest internet speed in the world in 2023 at 246.76 Mbps according to AtlasAndBoots.

The US is number 10 at 136.48 Mbps. Germany is number 36 at 81.73 Mbps.

A December 2023 Speedtest by Ookla shows similar results.

Ookla has the US in 8th place for fixed broadband and 13th for mobile. Germany is in 51st place for broadband and 45th place for mobile.

One reason is Germany is still reliant on copper lines. While most of the rest of the world turned to fiber, Germany made little investment in its own infrastructure. Germany is still working on the last mile.

Final Blow From the Greens

Not only is Germany seriously lagging on AI, EVs, microchips, phones, and the interment, the Greens came along and demanded Germany scrap nuclear power.

Former chancellor Angela Merkel hopped on the green bandwagon. Instead of investing in infrastructure, Germany invested in silly green projects and scrapped nuclear power for no good reason.

Now, Germany is making foreign direct investment in China, a country still heavily reliant on Coal. Germany gave up on nuclear power and still needs to catch up on basic internet and phone technology. Germany stayed too long on diesel and analog phones.

Greens label this as progress. Farmers are in open revolt. The average German consumer is screwed.

Not only is Germany way behind on basic infrastructure, it lost its export prowess as well. When export dependent countries implode, they are in a world of hurt.

end

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/GAZA/RAFAH//FRIDAY NIGHT

Netanyahu’s plan re Rafah: the IDF must be allowed to operate in Rafah to remove Hamas

(Jerusalem Post)

PM says IDF must operate in Rafah, but will let civilians evacuate first

Amid US alarm, Netanyahu says it’s ‘impossible to achieve war goal and leave 4 Hamas battalions in Rafah’; numerous gunmen killed in Gaza fighting

By EMANUEL FABIAN, FOLLOW
TOI STAFF and AGENCIES

Today, 6:14 pm

Prime Minister Benjamin Netanyahu indicated Friday that the over one million civilians who have crowded into the southern Gaza city of Rafah will be able to evacuate before the Israel Defense Forces begins operating there.

The statement came amid US statements that Israel has not conducted the pre-operational planning necessary to ensure that civilians will be kept out of harm’s way and that failure to do so risks “disaster.”

Netanyahu’s office said in a statement that he had instructed the IDF and defense establishment to present the cabinet with plans for both the evacuation of the Palestinian civilian population from the southern Gaza Strip and the dismantlement of Hamas’s battalions in the Rafah area.

“It is impossible to achieve the war goal of eliminating Hamas and leave four Hamas battalions in Rafah,” the statement said.

“On the other hand, it is clear that a massive operation in Rafah requires the evacuation of the civilian population from the combat zones,” it added.

More than 1.3 million Palestinians are estimated to be sheltering in the Rafah area, after the IDF issued evacuation warnings from northern Gaza and other areas in the Strip amid its ground offensive against Hamas. Unable to leave the tiny Palestinian territory, many are living in makeshift tent camps or overflowing UN-run shelters.

“There is a sense of growing anxiety, growing panic in Rafah because basically people have no idea where to go,” Philippe Lazzarini, the head of the UN Palestinian refugee agency UNRWA, said Friday.

The Palestinian presidency said what it called Netanyahu’s plans for a military escalation in Rafah aimed to displace the Palestinian people from their land.

“Taking this step threatens security and peace in the region and the world. It crosses all red lines,” said the office of Mahmoud Abbas.

Netanyahu this week rejected a ceasefire proposal from Hamas, saying its demands were “delusional,” after the terror group proposed a truce plan that would see a four-and-a-half-month ceasefire during which hostages would be freed in three stages, and which would lead to an end to the war. The Hamas proposal would have seen Israeli troops withdraw from Gaza with the terror group still intact ruling the Strip, as well as the release of 1,500 prisoners from Israeli jails, a third of whom are serving life sentences. It made other various demands of Israel.

Prime Minister Benjamin Netanyahu at his office in Jerusalem, February 5, 2024. (Haim Zach/GPO)

The Hamas proposal came in response to a proposed outline for a hostage release deal sent last week by Qatari and Egyptian mediators and backed by the US and Israel.

An Israeli official told The Times of Israel on Thursday that Jerusalem was working to pressure Hamas to withdraw its terms and was not about to offer new terms. “The main target now is to create pressure from the Americans and other countries on Qatar, and from there on Hamas, in addition to the military pressure, to bring them down from their delusional demands,” said the official.

US President Joe Biden said Hamas’s reply was “a little over the top.” But US Secretary of State Antony Blinken said that while some parts of the Hamas proposal were non-starters, it did create space for further negotiation.

Numerous gunmen killed by troops in Gaza

Fighting continued across the Gaza Strip Friday, with the IDF saying it carried out several airstrikes against Hamas cells attempting to attack troops.

In the southern Gaza city of Khan Younis, the IDF said the Commando Brigade operated in the western part of the city, raiding Hamas sites. An IDF drone spotted a Hamas cell placing explosive devices near the commando troops, and an aircraft struck and killed the operatives, the military said.

Also in Khan Younis, the IDF said troops of the Border Defense Corps’ 414th Combat Intelligence Collection Unit spotted two armed Hamas operatives and directed an airstrike on them.

The Paratroopers Brigade, also in western Khan Younis, killed some 15 Hamas operatives during raids on the terror group’s sites over the past day, the IDF said.

In another area of Khan Younis, the 646th Reserve Paratroopers Brigade directed airstrikes on several booby-trapped buildings, raided several Hamas sites and seized weapons and equipment.

The brigade also located a Hamas rocket launcher adjacent to a children’s daycare and a mosque. The rocket launchers, armed with projectiles and aimed at Israel, were later destroyed, the IDF said. The reservists also discovered a Hamas tunnel under a water facility in Khan Younis.

IDF soldiers advancing in the Gaza Strip in a photo released by the IDF on Feb. 9, 2024. (IDF Spokesperson)

Israel also reportedly conducted airstrikes in the city of Rafah on Gaza’s southern border, killing at least 13 people, including two women and five children, according to a hospital that received the remains. The military did not immediately comment on those strikes.

Meanwhile, in northern Gaza’s Beit Lahiya, the Gaza Division’s Northern Brigade spotted a group of gunmen near a Hamas position, the IDF said. Airstrikes were carried out against the cell and against two other gunmen spotted in the area.

UN Secretary-General Antonio Guterres on Friday called for an immediate ceasefire in the war and the release of all hostages, condemning Hamas’s October 7 massacre and “the violations of international humanitarian law in Gaza,” in apparent reference to Israel.

https://platform.twitter.com/embed/Tweet.html?dnt=true&embedId=twitter-widget-

War broke out following Hamas’s October 7 attack which saw some 3,000 terrorists infiltrate Israel, killing 1,200 people and taking approximately 250 hostages. It is believed that 136 hostages remain in Gaza, about 30 of whom are believed to be dead.

Israel’s ensuing military campaign on the Gaza Strip has killed over 27,000 Palestinians, according to the Hamas-run health ministry in Gaza. The casualty numbers in Gaza cannot be independently verified and are believed to include over 10,000 members of Hamas’s military wing who were killed in battle as well as Gazans killed by misfired rockets.

Sinwar ‘out of contact’

Efforts are continuing for a truce agreement between Israel and Hamas that will see more hostages in Gaza be freed. However, the security establishment reportedly believes that Yahya Sinwar, Hamas’s leader in the Gaza Strip, has been “out of contact” for the past 10 days, not passing any messages to Qatari and Egyptian mediators during that period.

According to Channel 12, the reason for the disconnect is not clear and could be because he is on the run, engaged in a tactical ruse or simply unable to make contact due to the ongoing communications problems in Gaza.

Several decisions were made by Hamas in the past few days without him, though not necessarily ones relating to the hostages deal, Channel 12 said.

According to Kan news, the Israeli security establishment’s assessment is that Sinwar was not involved in issuing Hamas’s response to the Qatari hostage deal framework earlier this week.

The Hamas response included a clause stating that the deal would be “subject to the approval of the Hamas leadership in Gaza,” seemingly making Sinwar’s approval necessary. Reportedly, Hamas’s leadership in Qatar is seeking a permanent ceasefire in Gaza, while Sinwar would suffice with a temporary pause of six weeks so that the terror organization can regroup.

Jacob Magid contributed to this report

end

ISRAEL/HAMAS/RAFAH/SATURDAY

IDF eliminate three senior Hamas officers in Rafah/Saturday

(Jerusalem Post)

IDF eliminates three senior Hamas officers in Rafah – report

The strike comes as Prime Minister Benjamin Netanyahu has ordered the IDF to begin preparations to enter Rafah.

By JERUSALEM POST STAFFFEBRUARY 10, 2024 12:48Updated: FEBRUARY 10, 2024 15:11

SMOKE RISES during an Israeli airstrike in Rafah, Gaza Strip, on Sunday. (photo credit: ABED RAHIM KHATIB/FLASH90) — SMOKE RISES during an Israeli airstrike in Rafah, Gaza Strip, on Sunday.(photo credit: ABED RAHIM KHATIB/FLASH90)

https://trinitymedia.ai/player/trinity-player.php?

Three senior members of the Hamas police in Rafah were killed as a result of an attack on their vehicle in the Tel al-Sultan neighborhood, west of Rafah, according to Israeli media reports from Saturday afternoon.

Those killed are the director of investigations Ahmed al-Yakoubi, his deputy Ayman al-Rantisi, and Ibrahim Shatt.

The strike comes as Prime Minister Benjamin Netanyahu has ordered the IDF to begin preparations to enter Rafah.

Netanyahu ordered the IDF to begin planning to evacuate civilians from Rafah into areas of Gaza cleared of Hamas units.

Displaced Palestinians, who fled their houses due to Israeli strikes, take shelter in a tent camp, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, at the border with Egypt, in Rafah in the southern Gaza Strip, February 8, 2024. (credit: REUTERS/IBRAHEEM ABU MUSTAFA)

Impossible to leave Hamas in Rafah

“It is impossible to achieve the goal of the war without eliminating Hamas, and by leaving four Hamas battalions in Rafah,” the statement noted.

“On the contrary, it is clear that intense activity in Rafah requires that civilians evacuate the areas of combat.”

Netanyahu was criticized for the plan by Palestinian Authority President Mahmoud Abbas told the UN, ” [Israel] taking this step threatens security and peace in the region and the world. It crosses all red lines.”Advertisement

“We’re extremely worried about the fate of civilians in Rafah,” UN spokesman Stephane Dujarric said on Friday.

end

ISRAEL HAMAS//EGYPT

Egypt will not oppose Rafah as long as Israel commits to avoid civilian casualties and not allowing Palestinians to storm the gates of Rafah

Egypt won’t oppose Rafah operation if Israel commits to avoiding civilian casualties – report

Palestinians stand by the border fence with Egypt in Rafah in the southern Gaza Strip, on January 24, 2024. (AFP)

Senior Egyptian officials have told their Israeli counterparts that they won’t oppose an operation in Rafah so long as it is carried out in such a way that Palestinian civilian casualties are avoided, Army Radio reports.

According to the report, the message from Cairo indicates that while Egypt may issue strong criticism of Israel should it launch an offensive in Gaza’s southernmost city, it won’t act in a way that prevents the IDF from operating.

On Friday, the Wall Street Journal reported that Egyptian officials warned that the decades-long peace treaty between Egypt and Israel could be suspended if IDF troops enter Rafah, or if any of Rafah’s refugees are forced southward into Egypt’s Sinai Peninsula.

END

Halevi briefs ministers on the war efforts

(Times of Israel)

ISRAEL/HAMAS/SUNDAY

Halevi briefs ministers on war efforts, aid to Gaza, Rafah offensive

By LAZAR BERMAN

Prime Minister Benjamin Netanyahu meets with government ministers at the IDF’s Julis base near Ashdod, where IDF Chief of Staff Herzi Halevi offers a briefing on the war effort. According to multiple media reports, Halevi’s presentation was well-received and he told ministers that he would like to meet them more often to discuss the war.

Halevi tells the government ministers that he has approved a Rafah operation three times already and that he stands ready to carry out such an operation if the government gives the green light, Channel 13 reports.

National Security Minister Itamar Ben Gvir gets into an argument with Halevi over tightened rules of engagement on the border. “Anyone who approaches the fence and endangers the citizens of Israel and our heroic soldiers should be shot,” he says, according to Israel National News. “This is how it is done in any normal country. We must not return to the October 6 concept.”

They also argue over the military preventing protesters against aid to Gaza from reaching Kerem Shalom, and over humanitarian aid more broadly.

Halevi says that if the aid doesn’t go through Kerem Shalom, it will go through Rafah without Israeli supervision, according to Maariv.

end

Jerusalem Post: Sunday

Rafah is the offensive key to victory. Advice to Netanyahu do not go to Doha as Biden is compromised

(Jerusalem Post)

PM says Rafah offensive key to victory as Hamas threatens to torpedo hostage talks

Netanyahu says demands to stop upcoming assault akin to telling Israel to ‘lose the war, keep Hamas there’; US, top European diplomats voice concern over looming operation

By EMANUEL FABIAN FOLLOW
and TOI STAFFToday, 2:39 pm

Palestinians search for survivors after an Israeli airstrike on a residential building in Rafah, Gaza Strip, February 10, 2024. (AP Photo/Hatem Ali)

Prime Minister Benjamin Netanyahu on Sunday slammed calls for Israel to avoid carrying out a military offensive inside Rafah, as the military appeared set to turn its attention to the southernmost city in the Gaza Strip, a crucial goal in the war as it serves as a smuggling haven for the enclave’s terror groups.

Despite international alarm over the potential carnage in a city crammed with more than a million displaced Palestinians, the prime minister told ABC News’s “This Week with George Stephanopoulos” the offensive is key to crushing Hamas, the terror organization that has ruled Gaza for more than 16 years.

“Those who say that under no circumstances should we enter Rafah are basically saying lose the war. Keep Hamas there,” he added.

War erupted when Hamas-led terrorists stormed southern Israel on October 7 to kill nearly 1,200 people, mainly civilians, while taking 253 hostages of all ages, committing numerous atrocities, and weaponizing sexual violence on a mass scale.

Rafah has become home to close to many of the Strip’s displaced Palestinians who were pushed south by the months-long war.

Netanyahu assured that Israel will provide “safe passage for the civilian population” ahead of the expected assault, and rejected fears of a “catastrophe.”

Prime Minister Benjamin Netanyahu seen during a discussion and a vote on the state budget at the Knesset in Jerusalem, February 7, 202 (Yonatan Sindel/Flash90)

“We are working out a detailed plan to do so,” Netanyahu added. “We’re not, we’re not cavalier about this.”

“Victory is within reach. We’re going to do it. We’re going to get the remaining Hamas terrorist battalions and Rafah, which is the last bastion, but we’re going to do it,” he said.

However, expanding the offensive to Rafah may damage the chances of ongoing talks for a deal to release hostages in exchange for a temporary ceasefire.

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@Osint613

#Watch: Netanyahu’s statement to ABC regarding the Rafah operation: “Victory is within reach, we will do it while providing safe passage…”

3:53 AM · Feb 11, 2024

·https://www.timesofisrael.com/pm-says-rafah-offensive-key-to-victory-as-hamas-threatens-to-torpedo-hostage-talks/

Any Israeli ground offensive in Rafah on the Gaza border will “blow up” the hostage exchange negotiations,” Hamas-run Aqsa Television channel quoted a senior Hamas leader as saying on Sunday.

It is believed that 132 hostages abducted by Hamas on October 7 remain in Gaza — not all of them alive — after 105 civilians were released from Hamas captivity during a weeklong truce in late November. Four hostages were released prior to that, and one was rescued by troops. The bodies of eight hostages have also been recovered and three hostages were mistakenly killed by the military. One more person is listed as missing since October 7, and their fate is still unknown.

Relatives of hostages and supporters attend a rally calling for the release of the abductees held by Hamas in Gaza, at Hostages Square in Tel Aviv, February 10, 2024. (Avshalom Sassoni/ Flash90)

Hamas is also holding the bodies of fallen IDF soldiers Oron Shaul and Hadar Goldin since 2014, as well as two Israeli civilians, Avera Mengistu and Hisham al-Sayed, who are both thought to be alive after entering the Strip of their own accord in 2014 and 2015, respectively.

A senior Biden administration official told NBC News Sunday that “there is a growing divide between the US and Israel,” especially over a potential operation in Rafah.

The White House and State Department said last week that they would not support an IDF operation in the city before extensive planning was done on protecting civilians.

Top European diplomats also expressed concern Saturday over a potential humanitarian disaster in Rafah if an offensive were to go ahead. Netanyahu reportedly believes that given international pressure, Israel only has one month left to complete the operation, specifically, before the Muslim holy month of Ramadan, which begins around March 10 and tends to be a period of increased tensions in the region.

The European Union’s head of foreign affairs Josep Borrell said Saturday an assault on Rafah would be an “unspeakable humanitarian catastrophe” and warned that it could spark “grave tensions with Egypt.”

“Resuming negotiations to free hostages and suspend hostilities is the only way to avert a bloodshed [sic],” he posted on X.

A picture taken from Rafah shows smoke billowing during Israeli strikes over Khan Yunis in the southern Gaza Strip on February 11, 2024 (SAID KHATIB / AFP)

British Foreign Minister David Cameron said he is “deeply concerned” about the prospect of an Israeli military operation in Rafah.

In a statement on X, Cameron said fighting must stop immediately so aid can enter and hostages can be freed, followed by “progress towards a sustainable, permanent ceasefire.”

Dutch Foreign Minister Hanke Bruins Slot said in a pair of tweets that the situation in the city is “very worrying.”

“Hard to see how large-scale military operations in such a densely populated area would not lead to many civilian casualties and a bigger humanitarian catastrophe. This is unjustifiable,” she wrote, and added that a truce followed by a long-term ceasefire is needed, and called for hostages to be released.

Israeli soldiers drive a tank near the border with the Gaza Strip, as seen in southern Israel, Feb. 11, 2024 (AP Photo/Ariel Schalit)

The operation is further complicated by Egypt’s concerns, amid fears that Palestinians fleeing Rafah could try and cross into the Sinai. The Wall Street Journal reported Friday that Egyptian officials warned the decades-long peace treaty between Egypt and Israel could be suspended in such a case.

As the Israel Defense Forces awaited the order to operate on the ground in Rafah, troops of the IDF’s 98th Division continued to battle Hamas in southern Gaza’s Khan Younis, while the 162nd Division carried out smaller raids in central and northern Gaza.

https://www.timesofisrael.com/pm-says-rafah-offensive-key-to-victory-as-hamas-threatens-to-torpedo-hostage-talks

Simultaneously, the Israeli Air Force and Navy carried out strikes on various Hamas targets across the Strip, the military said in a statement.

In an update on the ground operation, the IDF said the Nahal Brigade spotted and killed a Hamas operative who had been observing the forces and fired an anti-tank missile at them in central Gaza.

Moments later, more missiles were fired toward the soldiers. The IDF said the Nahal troops spotted two operatives coming out of the building from which the missiles were fired and directed an aircraft to strike and kill the pair.

The Nahal Brigade also directed several more airstrikes on Hamas sites in central Gaza, including a weapons depot, the IDF said.

Meanwhile, in western Khan Younis, the IDF said the Paratroopers Brigade and Egoz commando unit raided several Hamas sites, killing a number of operatives and locating weapons.

In another area of Khan Younis, the 7th Armored Brigade killed several more Hamas gunmen and the 646th Reserve Paratroopers Brigade located weapons, the IDF said.

Also in Khan Younis, airstrikes were carried out against three weapons depots and a Hamas cell that had fired at troops, the IDF added.

The IDF said the Givati Brigade has “deepened” the damage caused to Hamas’s western Khan Younis Battalion, and has strengthened its “operational control” in the area in southern Gaza.

Over the past two weeks, the IDF said, Givati troops killed some 100 Hamas operatives in close-quarters fighting, tank shelling, sniper fire, and by calling in airstrikes.

Footage released by the IDF shows one of the airstrikes against three Hamas operatives who were spotted by Givati troops carrying a large explosive device on a motorcycle.

The Hamas-run Gaza health ministry said the Palestinian death toll in the Strip since the start of the war has reached 28,176, and an additional 67,784 people have been injured. These figures cannot be independently verified, and are believed to include both civilians and Hamas members killed in Gaza, including as a consequence of terror groups’ own rocket misfires. The IDF says it has killed over 10,000 operatives in Gaza, in addition to some 1,000 terrorists inside Israel on October 7.

END

If Hamas does not agree to the former deal struck by the delegation, then Egypt will rescind its opposition to the attack on Rafah

(Jerusalem Post)

Israel to send top delegation to Cairo for hostage talks with Egypt, Qatar, and US

According to senior Israeli figures, ongoing discussions with Egypt and Qatar are focused the hostages, with a critical deadline set for the coming Tuesday

By JERUSALEM POST STAFF, BARAK RAVIDFEBRUARY 10, 2024 20:25Updated: FEBRUARY 11, 2024 06:53

David Barnea, the head of the Israeli Mossad attends an honour guard ceremony for Israel's incoming military chief Herzi Halevi at Israel's Defence Ministry in Tel Aviv, Israel January 16, 2023. (photo credit: REUTERS/AMIR COHEN) — David Barnea, the head of the Israeli Mossad attends an honour guard ceremony for Israel’s incoming military chief Herzi Halevi at Israel’s Defence Ministry in Tel Aviv, Israel January 16, 2023.(photo credit: REUTERS/AMIR COHEN)

https://trinitymedia.ai/player/trinity-player.php?

Israel plans to send a delegation next week to Cairo. The team will be led by Mossad Director Dedi Barnea, Shin Bet Head Ronen Bar, and retired Major General Nitzan Alon.

They are set to meet CIA Director Bill Burns, Egyptian Intelligence Director Abbas Kamel, and the Qatari Prime Minister Mohammed bin Abdul Rahman Al-Thani to deliberate on efforts to secure the hostages’ release, as informed by two high-ranking Israelis.

An Israeli official source claimed that the decision to send the heads of the agencies depends on a “change of direction” in the hostage deal talks that Israel optimistically expects to take place.

Significance of the mission

The significance of this mission is underscored by these officials, who pointed out that the delegation’s departure hinges on the ability of Egypt and Qatar to persuade Hamas to retract its maximalist demands and consent to negotiations grounded on the Paris framework established two weeks prior. “Should there be a shift in stance, we will proceed,” a high-ranking Israeli official stated.

In the backdrop of these preparations, CIA Director Burns and Qatari Prime Minister Mohammed bin Abdul Rahman Al-Thani have confirmed their participation in the meeting, which is scheduled to take place in Cairo on Tuesday.

William Burns, Central Intelligence Agency (CIA) director, attends his Senate Intelligence Committee hearing on Capitol Hill in Washington, February 24, 2021. (credit: TOM WILLIAMS/POOL VIA REUTERS)

According to the Wall Street Journal Egypt has attempted to leverage Israel’s planned military operation in Gaza’s Rafah to force Hamas to make a hostage deal within two weeks. It has warned that it will rescind its objection to the Rafah operation unless Hamas reaches a hostage deal with Israel.

In the White House on Thursday night US President Joe Biden spoke about the importance of a hostage deal.

“I’m pushing very hard now to deal with this hostage ceasefire” Biden said, underscoring that he was “working tirelessly… to lead to a sustained pause in the fighting in — the actions taking place in — in the Gaza Strip.”

At issue has been Hamas’ insistence that any deal must include a permanent ceasefire and a full IDF withdrawal from the enclave.

Israel has insisted that the IDF has to complete its military campaign to oust Hamas from Gaza.

Tovah Lazaroff contributed to this report.

END

GAZA/HAMAS//ISRAEL//Saturday

Israel prepares for the Rafah assault

(Jerusalem Post)

Israel Prepares For Rafah Assault That Could Lead To “Tens Of Thousands” Of Casualties As Saudis Warn Of Imminent “Humanitarian Catastrophe”

BY TYLER DURDEN

SATURDAY, FEB 10, 2024 – 04:55 PM

With any hopes for a Israel-Hamas ceasefire now dead, overnight Israeli air strikes killed 17 people in Rafah on the Gaza border medics said on Saturday, as over a million Palestinians crammed into the city await a full-scale offensive with the rest of the enclave in ruins and nowhere left to run.

As reported yesterday, four months into the war in Gaza, Israeli PM Netanyahu’s office said it ordered the army to prepare to evacuate civilians from Rafah – a city in Gaza’s far south where more than one million displaced Palestinians have taken refuge, many sheltering in tents pushed up against the border with Egypt and the sea – ahead of a planned ground operation against four Hamas batallions it says are deployed in the city; on Saturday, the Israeli military said the air force killed two Hamas operatives in Rafah. The assault is set to escalate substantially, with Israeli Channel 13 news reporting that Netanyahu has requested the remobilization of reserve soldiers for the military operation

Gaza’s Hamas rulers warned on Saturday that Israeli operations in Rafah could cause “tens of thousands” of casualties in the city. The office of Palestinian president Mahmud Abbas said the move “threatens security and peace in the region in the world” and is “a blatant violation of all red lines”.

Meanwhile, the Israeli military has been dropping leaflets over Rafah advising the civilians of the upcoming military operation and advising them to move safe locations, although it isn’t clear where the Palestinians can move to.

While in prior Israeli assaults on Gaza’s cities the military ordered civilians to flee south, now that they are effectively pressing against the border with Egypt, there is no obvious place for them to go and aid agencies have said large numbers could die.

“Any Israeli incursion in Rafah means massacres, means destruction. People are filling every inch of the city and we have nowhere to go,” said Rezik Salah, 35, who fled his Gaza City home with his wife and two children for Rafah early in the war.

Meanwhile, the world is warning Israel that any incursion into Rafah will have dire consequences. On Saturday, Saudi Arabia said that Israel’s planned army operation in overcrowded Rafah would cause a “humanitarian catastrophe” and called for the United Nations Security Council to intervene.

The kingdom “warned of the extremely dangerous repercussions of storming and targeting” Rafah and affirmed its “categorical rejection and strong condemnation of their forced deportation”, in a foreign ministry statement carried by state media.

“This continued violation of international law and international humanitarian law confirms the necessity of convening the Security Council urgently to prevent Israel from causing an imminent humanitarian catastrophe,” the statement added.

While US President Joe Biden’s administration has voiced optimism that Saudi-Israeli normalisation can be revived, Saudi Arabia said this week it had told Washington it would not establish ties with Israel until an independent Palestinian state is “recognised” and Israeli forces leave Gaza. Saudi Arabia, home to the holiest sites in Islam, has never recognised Israel but had been considering to do so before the Israel-Hamas war broke out in October.

Meanwhile, Iran’s Foreign Minister Hossein Amir-Abdollahian warned Israel against taking any steps towards a broader war against its proxy, the Hezbollah terror group in Lebanon, saying that would be Israeli Prime Minister Benjamin Netanyahu’s “last day.”

At a news conference with his Lebanese counterpart Abdallah Bou Habib in Beirut, he also said Iran saw a political solution as the only way to end the ongoing Israel-Hamas war. “Iran and Lebanon confirm that war is not the solution and that we absolutely never sought to expand it,” Amir-Abdollahian said. He also said Tehran was in talks with Saudi Arabia on a political solution to hostilities in Gaza.

Hamas this week proposed a ceasefire of four and a half months, during which remaining hostages held by Hamas would go free, Israel would withdraw its troops from Gaza, and an agreement would be reached on an end to the war. It also demands the release of hundreds of Palestinian prisoners serving life sentences in Israeli jails for terror attacks.

Netanyahu called the Hamas terms “delusional” and vowed to fight on. But Amir-Abdollahian said Hamas was presenting ideas based on a “realistic view,” and that they should be widely backed to end the war.

end

GAZA/HAMAS/ISRAEL/Monday

A member of the Palestinian Civil Defence works at the site of Israeli strikes, amid the ongoing conflict between Israel Hamas, in Rafah, Gaza Strip February

Two hostages rescued in a perfectly executed plan

(Jerusalem Post)

Hostages rescued from Rafah arrive at Sheba hospital, gov’t officials react

The forces stealthily entered the building where the hostages were held, as the surrounding apartments were full of armed terrorists.

By JACOB LAZNIKFEBRUARY 12, 2024 05:24

The two hostages rescued from Rafah in the Gaza Strip, February 12, 2024 (photo credit: MAARIV) — The two hostages rescued from Rafah in the Gaza Strip, February 12, 2024(photo credit: MAARIV)

https://trinitymedia.ai/player/trinity-player.php?

Two Israeli hostages arrived at Sheba Hospital after they were rescued from Rafah in the Gaza Strip, and brought back to Israel, by a joint IDF, Shin Bet, and Israel Police operation, the IDF announced early Monday morning.

The hostages, Fernando Simon Herman (61) and Louis Norbeto (70), were kidnapped by the Hamas terrorist organization on October 7 from Kibbutz Nir Yitzhak.

The two hostages were rescued as part of an operation that began with heavy IDF airstrikes in the Shabura district in central Rafah.

The IDF also said that the hostages were held on the second floor of a building in the heart of Rafah. The forces entered the building stealthily, as the surrounding apartments were full of armed terrorists.

Additionally, the IAF stopped an attempt by Hamas to hit the rescuers leaving the scene.

A helicopter arrives at Sheba Medical Center with the two rescued hostages, Februay 12, 2024 (credit: IDF SPOKESPERSON'S UNIT) — A helicopter arrives at Sheba Medical Center with the two rescued hostages, Februay 12, 2024 (credit: IDF SPOKESPERSON’S UNIT)

The IDF stated that they are both in good medical condition and were transferred for medical examination at the Sheba Tel HaShomer hospital.

Sheba Medical Center and Defense Minister Gallant give updates on the mission

Sheba Medical Center also released a statement on the condition of the hostages, saying, “Early in the morning, two Israeli hostages who were freed by our forces from the Gaza Strip arrived at the Sheba Medical Center. After an initial medical examination, the condition of the two is defined as good and stable, and they are now staying in a designated compound.”

“These are sensitive moments for the families and for the returnees to Israel,” the statement continued, “We ask to maintain their privacy and dignity. We are happy for their return home and wish for the return of all the abductees.A media statement will be issued later. We will continue to update.”

Defense Minister Yoav Gallant released a statement on x (formerly twitter) about the success of the mission:

“In an impressive rescue operation, the security forces managed to return Fernando Marman and Louis Har to Israel tonight, who were kidnapped from Kibbutz Nir Yitzhak.

Together with the Commander-in-Chief and the senior command, I followed the operation from the command center – full appreciation to the IDF, Shin Bet and IDF forces for an important operation and quality execution.

We will continue to fulfill our commitment to return the hostages by any means necessary.”

END

The Shin Bet knew where they were and they planned the rescue

(Jerusalem Post)

Shin Bet, IDF rescues 2 hostages from Rafah

The operation freeing two Argentinian hostages from Nir Yitzhak, Fernando Herman and Louis Norbeto, started with dozens of airstrikes against Hamas’s Shabura battalion.

By YONAH JEREMY BOBFEBRUARY 12, 2024 04:35Updated: FEBRUARY 12, 2024 04:51

People stand around craters caused by Israeli bombardment in Rafah on the southern Gaza Strip on February 12, 2024 (SAID KHATIB / AFP)

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The Shin Bet, IDF and special police forces early morning on Monday rescued two hostages from Hamas in the heart of Rafah.

Around 1:00 a.m., the operation freeing two Argentinian hostages from Nir Yitzhak, Fernando Herman and Louis Norbeto, started with dozens of airstrikes against Hamas’s Shabura battalion so they would not understand the true goal of rescuing the hostages, ages 61 and 70.

Two family members of the hostages were previously freed during the November 23-30 hostage exchange.

The operation had been planned for a while, but continuously cancelled

The operation had been considered several times recently, but called off, until the operation was finally approved on Monday morning.

The hostages had been held on the second floor of a building heavily guarded as well as by additional guards in the next door building.

A RALLY is held, Saturday night in Tel Aviv, for the release of Israelis held hostage in Gaza. (credit: MIRIAM ALSTER/FLASH90)

Israeli forces entered the compound clandestinely and used explosives, heavy fire and highly intimate intelligence about the exact placement of the hostages versus their guards to rescue Herman and Norbeto without Hamas being able to kill them first.

Afterwards, a helicopter brought the hostages to Shiba Hospital where they are said to be in good condition. One soldier was lightly injured, but none were killed.

end

Aerial footage of the IDF hostage rescue operation in Rafah

https://www.jpost.com/israel-hamas-war/2024-02-12/live-updates-786435

By JERUSALEM POST STAFF

https://player.jpost.com/public/player.html?player=jpost&media=3666779&url=www.jpost.comAerial footage of the IDF operation in Rafah. February 12, 2024. (Credit: IDF’s Spokesperson’s Unit)

end.

(zerohedge//same story as above)

Israel Rescues Two Hostages In Daring Raid As Rafah Assault In Full Swing

MONDAY, FEB 12, 2024 – 01:20 PM

Overnight and into Monday Israel’s ground and air operation against Hamas in the southern Gaza city of Rafah appears to have ramped up into a full scale assault, but which has already born fruit for Israel with the freeing of two hostages, a rarity on the active battlefield.

“In a complex overnight operation, Israeli special forces rescued two hostages from Hamas captivity in Rafah in the southern Gaza Strip early Monday, marking the first successful extraction of captives held by the terror group in months,” The Times of Israel reports.

The rescue operation came amid running gun battles and air support deep into Rafah, and by the end of it Fernando Marman, 61, and Louis Har, 70 were returned in good health by the police’s elite Yamam counterterrorism unit and the IDF.

They were among the 253 hostages taken on Oct.7, and were abducted from Kibbutz Nir Yitzhak. Their rescue strongly suggests more hostages are likely present in Rafah, which borders Egypt, and which has seen some one million Palestinian refugees pour into the city and its environs after months of war in the Strip.

As for the rarity of an IDF ground rescue operation, it was only the second such successful operation of its kind, after the late October return to freedom of soldier Or Megidish. IDF Spokesman Rear Adm. Daniel Hagari said the elite counterterror team entered Rafah at around 1AM and “carried out a very complex action on the premises and the second floor where the hostages were held.”

Firefights had broken out at nearby buildings during the rescue, and Hagari further explained, “There was intense firepower from the air. Fire was opened from nearby buildings. The Air Force struck intensively there.”

This successful and rare hostage recovery from the battlefield is also being seen as a badly needed political and decision-making ‘win’ for PM Netanyahu, given he’s been under intense domestic pressure especially from victims’ families to implement a ceasefire and new hostage/prisoner exchange. He has resisted while dialing up the military campaign.

Last week he called Hamas’ new conditions for a truce “delusional” and vowed to not stop the Gaza war until “total victory” and the eradication of the terror group. This has also put him on collision course with Washington, which has warned that unless civilians can be evacuated, there will be catastrophe and a blood bath.

According to a Sunday phone call between President Joe Biden and Netanyahu:

President Joe Biden on Sunday told Israeli Prime Minister Benjamin Netanyahu that Israel’s planned ground invasion in Rafah “should not proceed” without a plan to ensure the safety of the more than 1 million people living there, according to the White House.

“He also called for urgent and specific steps to increase the throughput and consistency of humanitarian assistance to innocent Palestinian civilians,” he readout said. And he reaffirmed his view that a military operation in Rafah should not proceed without a credible and executable plan for ensuring the safety of and support for the more than one million people sheltering there.”

Currently there are reports saying Israel has already bombed refugee tent settlements, which have sprang up across broad swathes of the southern Strip since the war began last October, and as much of the population was forced out of northern Gaza…

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Thus far Monday at least 67 Palestinians have been killed in the Israeli assault on Rafah, which has also included shelling from the sea. According to Al Jazeera, hospitals continue to be high risk areas and have witnessed fighting in their environs: “Israeli snipers have killed seven people inside Nasser Hospital in the southern city of Khan Younis, the spokesman for Gaza’s Health Ministry says,” AJ writes.

Hamas’ Al-Aqsa television network has meanwhile warned that Israel’s ground offensive on Rafah will “blow up” the captive exchange negotiations. Though the US has continued holding out hope of cobbling together a truce deal, it appears to already be effectively dead

Hamas forces halved with more than 12,000 terrorists killed

By REUTERSFEBRUARY 12, 2024 14:40Updated: FEBRUARY 12, 2024 16:37

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An Israeli government spokesperson said on Monday that Hamas had been reduced to half its fighting force in the Gaza war, with more than 12,000 gunmen who have been killed and large numbers wounded or captured.

“We’re talking about three-quarters of Hamas’ battalions that have been shattered … with over 12,000 terrorists who have been killed,” Eylon Levy said in a briefing.

When you take into account the number of terrorists who have been wounded or apprehended, that is more than half of Hamas’ fighting force knocked out of action.”

end

UNRAW aid blocked by protesters

(Jerusalem Post)

UNRWA says aid shipment blocked in Israeli port

On Sunday, the IDF discovered a tunnel running under the agency’s Gaza headquarters. It additionally found evidence that UNRWA electric infrastructure was providing power to the tunnel.

By REUTERS

Israeli soldiers operate next to the UNRWA headquarters, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in the Gaza Strip, February 8, 2024. (photo credit: REUTERS/DYLAN MARTINEZ) — Israeli soldiers operate next to the UNRWA headquarters, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in the Gaza Strip, February 8, 2024.(photo credit: REUTERS/DYLAN MARTINEZ)

The United Nations Relief and Works Agency (UNRWA), the main United Nations agency providing aid to Palestinians in Gaza, is facing growing administrative hurdles from Israel, with a shipment amounting to a month’s supply of food blocked in port, the agency’s chief said.

Israel has alleged that 12 staff members with UNRWA were involved in the Hamas-led attack on Israel on Oct. 7, with a number of donor countries suspending funding. UNRWA has dismissed staff accused of involvement in the attack and launched an investigation.

“We have an environment here which is for the time being quite hostile to the agency but there have been some decisions now which are starting to impact the ability of the agency to properly operate,” UNRWA head Philippe Lazzarini said on Friday.

He said UNRWA had been informed by a contractor that provided handling services in the port of Ashdod that it could no longer continue working with UNRWA, following instructions from the Israeli authorities.

As a result, a shipment from Turkey consisting of 1,049 containers of supplies, including flour, chickpeas, sugar, and cooking oil, enough to cover the needs of 1.1 million people for a month, was blocked in the port, Lazzarini said.

He said UNRWA had informed Turkey of the stoppage. There was no immediate comment from Turkish authorities.

A spokesperson for the finance ministry said the matter was in the hands of the government’s legal advisor but offered no further comment.

Go to the full article >>

ISRAEL HEZBOLLAH/LEBANON.

Deep strike by Israel into Lebanon where they killed a Hezbollah fighter

(Jerusalem Post)

Hezbollah fighter among three killed in unusually deep strike in Lebanon

According to initial reports, the target was a Palestinian figure, but he survived.

By MAARIV ONLINE, JERUSALEM POST STAFFFEBRUARY 10, 2024 12:44Updated: FEBRUARY 10, 2024 15:57

A Hezbollah fighter stands in front of anti-tank artillery at Juroud Arsal, the Syria-Lebanon border. (photo credit: REUTERS) — A Hezbollah fighter stands in front of anti-tank artillery at Juroud Arsal, the Syria-Lebanon border.(photo credit: REUTERS)

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An Israeli drone strike targeted a car north of Sidon in southern Lebanon on Saturday, killing three individuals, including a Hezbollah fighter, Lebanese security sources told Reuters.

The strike reportedly targeted a figure associated with Hamas, but the security sources told Reuters that the supposed intended target survived the incident.

Israeli media, citing Lebanese media sources, named the Hamas-associated individual as Bassel Saleh. Saleh was reportedly wounded by the strike. His condition is unknown.

The strike took place on the Wadi al-Zaina road in the town of Jadeira, according to various reports from social networks in Lebanon.

Eyewitnesses reported seeing two drones flying over the area for hours – before two consecutive explosions were heard, according to Israeli media. The area is about 55 km from the border with Israel.

Smoke rises on the Lebanese side of the border between Israel and Lebanon after an Israeli airstrike, as seen from northern Israel, November 18, 2023 (credit: REUTERS/EVELYN HOCKSTEIN)

Two men are reported to have come on a motorcycle to help, but a second missile was fired at them, so they sheltered with a young Syrian who happened to be passing through the area.

Lebanese networks reported that Khalil Fars from the town of Aitaroun near the Israeli border was killed in the attack.Advertisement

Conflicting reports

Sky News reported that the target was a member of Hezbollah, while other networks, including Al-Arabiya, reported that they were members of Hamas.

The Lebanese newspaper al-Akhbar reported on ambulance crews, including four injured people traveling from a nearby church.

This is the second time since the beginning of the war that an attack in Sidon has been attributed to Israel.

This is one of the more distant airstrikes since the beginning of the war, after the strike in Beirut, which eliminated Saleh al-Arouri.

END

ISRAEL/HEZBOLLAH/LEBANON

Israeli jets target Hezbollah sites in south Lebanon; 3 projectiles land in open areas in north

By EMANUEL FABIAN

The IDF says fighter jets carried out further airstrikes on Hezbollah targets in southern Lebanon earlier today.

Among the targets were three command centers in Naqoura and Ayta ash-Shab, where members of the terror group were gathered, and two other sites in Khiam and Marwahin, according to the IDF.

The IDF also says three projectiles were fired from Lebanon toward the northern community of Shlomi, landing in open areas.

It adds that troops are shelling the launch sites.

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ה בשטח לבנון. בין המטרות שנתקפו, שלוש מפקדות צבאיות במרחבים א-נקורה ועייתא א-שעב בהן פעלו מחבלי הארגון, לצד שתי תשתיות טרור במרחבים אל-חיאם ומרווחין. מוקדם יותר היום הותקפה תשתית טרור נוספת במרחב הכפר בסתן.

לפני זמן קצר, מטוסי קרב תקפו מספר מטרות טרור של ארגון הטרור חיזבאללה בשטח לבנון.

בין המטרות שנתקפו, שלוש מפקדות צבאיות במרחבים א-נקורה ועייתא א-שעב בהן פעלו מחבלי הארגון, לצד שתי תשתיות טרור במרחבים אל-חיאם ומרווחין.
מוקדם יותר היום הותקפה תשתית טרור נוספת במרחב הכפר בסתן. pic.twitter.com/ZhZcFDe4aL
— Israeli Air Force (@IAFsite) February 10, 2024

END

UNRAW/ISRAEL/GAZA/LEBANON

this is the end of them serving in Gaza

(Jerusalem Post)

IDF finds Hamas command tunnel under UNRWA Gaza HQ

“This is one of the central commands of the intelligence. This place is one of the Hamas intelligence units, where they commanded most of the combat.”

By JACOB LAZNIKFEBRUARY 10, 2024 20:37Updated: FEBRUARY 11, 2024 17:48

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New evidence of the cooperation between UNRWA and the Islamist terror organization Hamas came to light after the IDF discovered a tunnel shaft near a UNRWA school during its operations in the Gaza Strip, the Israeli military announced on Saturday.

The tunnel shaft, near the school, led to an underground shelter that served as a valuable asset for Hamas’s military intelligence wing, according to the IDF. The route connected to the tunnel also led to a path beneath UNRWA’s central headquarters in the Gaza Strip.

According to the report, the tunnel was 700 meters long and 18 meters deep and contained several constructed side doors to various new routes. The IDF stated that the newly acquired intelligence from this operation will allow it to conduct additional raids on Hamas in the future.

https://player.jpost.com/public/player.html?player=jpost&media=3665721&url=www.jpost.comAnimated infographic showing the underground route passing between UNRWA infrastructure

Additionally, IDF soldiers discovered electric infrastructure inside the tunnels that were connected to the UNRWA headquarters building, indicating that UNRWA assets were supplying Hamas with electricity.

Following these findings, paired with prior intelligence from the Shin Bet, the IDF raided the offices of the UNRWA headquarters building.

Weapons found in an UNRWA building and an explanation by the Commander of the 401st Brigade Combat Team, COL Benny Aharon. (credit: IDF SPOKESPERSON UNIT)

Within the offices of the building itself, the IDF announced that it discovered guns, ammunition, grenades, and other explosives.

Commissioner-General of UNRWA, Philippe Lazzarini, responded to the incriminating announcement

Shortly after the IDF’s announcement on Saturday, Commissioner-General of UNRWA Phillipe Lazzarini made a comment on X (formerly Twitter), denying any awareness of Hamas using UNRWA assets for terror purposes.Advertisement

“UNRWA did not know what is under its headquarters in Gaza. UNRWA staff left its headquarters in Gaza City on 12 October following the Israeli evacuation orders and as bombardment intensified in the area. We have not used that compound since we left it, nor are we aware of any activity that may have taken place there,” he said in his post on X.

He also stated that they perform routine checks on all of their premises, saying, “In times of ‘no active conflict,’ UNRWA inspects inside its premises every quarter. The last inspection for the UNRWA Gaza premises was completed in September 2023.”

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Foreign Minister Israel Katz responded to the Commissioner-General’s statement, demanding that he resign.

“The exposure of UNRWA’s Gaza headquarters’ deep involvement with Hamas, including its use for terror activities and as an access point to terror tunnels, requires immediate action. Commissioner-General Lazzarini’s claim of unawareness is not only absurd but also an affront to common sense. His prompt resignation is imperative.”

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The Coordinator of Government Activities in the Territories (COGAT) rejected Lazzarini’s claims as well, posting on X “Oh, you knew. Digging a tunnel takes longer than 4 months. We invited senior @UN officials to see, and during past meetings with you and other UN officials, we stated Hamas’s use of UNRWA’s headquarters. You chose to ignore the facts so you can later try and deny them.”

MK Ze’ev Elkin, the chair of the Foreign Affairs and Defense Committee Subcommittee for Foreign Policy and Public Diplomacy, responded to the IDF’s announcement as well, writing: “UNRWA serves as one of the arms of Hamas’ civil government in Gaza, and its facilities have become bases for storing weapons and building terror tunnels for Hamas. It is time to change this reality immediately both in the field and in an active political campaign. Mr. Prime Minister, @netanyahu, you must urgently hold a discussion on this and make decisions for implementation!”

Israel’s envoy to the UN, Gilad Erdan, responded to Lazzarini on Saturday night, writing “it’s not that you didn’t know, it’s that you didn’t WANT to know. We exposed terror tunnels under UNRWA schools and supplied evidence that Hamas’ exploits UNRWA. We implored you to carry out a comprehensive search of all UNRWA facilities in Gaza. But not only did you refuse, you chose to stick your head in the sand.”

Erdan called on Lazzarini to “Take responsibility and resign today!”

“Every day we find more proof that in Gaza the UN=Hamas and vice versa. Anything the UN says or claims about Gaza cannot be trusted,” added Erdan.

https://player.jpost.com/public/player.html?player=jpost&media=3665717&url=www.jpost.comFootage of the 401 Brigade during operations.

Separately, the IDF gave an update on the activities of the 401st brigade in the Shati area.

In a joint operation between the 401st brigade and Shin Bet forces, as well as k-9 Unit soldiers and Shaldag special forces, the soldiers managed to kill about 120 terrorists, and over 20 buildings and other terror infrastructures were destroyed.

LEBANON/ISRAEL

Top Hamas official in Lebanon survives alleged Israeli strike; 3 others killed

Basel Salah, believed injured, is a recruiter for the terror group; Hezbollah member among dead in attack 40 kilometers north of border; rocket strikes building in Kiryat Shmona

By AGENCIES and EMANUEL FABIAN FOLLOW
Today, 6:49 pm

Lebanese army soldiers gather around a damaged car near the coastal town of Jadra, south Lebanon, February 10, 2024. (AP Photo/Mohammed Zaatari)

A senior Hamas member targeted in an alleged Israeli airstrike in Lebanon 40 kilometers from the Israeli border survived the attack Saturday, a Palestinian security official told AFP, as rockets continued to target Israeli northern communities.

Two other people were killed in the strike in Lebanon, including one Hezbollah operative.

Lebanon’s state-run National News Agency said an Israeli drone struck a car in the coastal town of Jadra, about 40 kilometers (25 miles) from the border.

The target of the alleged Israeli airstrike was Basel Salah, a Hamas operative charged with recruiting and managing members of the terror group, including in the West Bank, The Times of Israel learned.

The Hamas unit Salah was a member of was headed by Azzam Al-Aqraa, who was killed in the alleged Israeli strike in Beirut last month that also killed the terror group’s deputy leader Saleh al-Arouri.

Salah, whose condition is unknown but who is believed to have been injured in Saturday’s strike, was allegedly involved in recruiting Hamas members for years, even amid the war in Gaza.

The strike took place deeper into Lebanese territory than the usual exchanges of fire between Hamas ally Hezbollah and the Israeli military, which have been mostly limited to the border region.

There was no immediate comment from the Israeli military.

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Al Arabiya English

@AlArabiya_Eng

Watch: The aftermath of an alleged Israeli drone strike in the village of #Jadra, north of #Lebanon’s port city of Saida. https://english.alarabiya.net/News/middle-east/2024/02/10/Alleged-Israeli-drone-strike-in-Lebanon-s-Jadra-kills-three-Hamas-members…

7:16 AM · Feb 10, 2024

4,492 Views

Northern communities continued to be targeted by projectiles throughout Saturday, with a missile fired from Lebanon striking a building in Kiryat Shmona, causing damage. Local authorities said there were no reports of injuries.

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Emanuel (Mannie) Fabian

@manniefabian

A missile fired from Lebanon struck a building in Kiryat Shmona, causing damage. Local authorities say there are no reports of injuries. The apparent anti-tank guided missile did not set off alarms in the city.

10:55 AM · Feb 10, 2024

11.5K Views

In response to Hezbollah’s ongoing attacks in the north, the IDF said fighter jets carried out strikes against a building used by the terror group in south Lebanon’s Bint Jbeil, an observation post in Markaba, three command centers in Naqoura and Ayta ash-Shab where members of the terror group were gathered, and two other sites in Khiam and Marwahin.

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@idfonline

לפני זמן קצר, מטוסי קרב תקפו מבנה צבאי במרחב בינת ג’בל ועמדת תצפית במרחב מרכבא. בנוסף, אתמול מטוסי קרב תקפו מפקדה צבאית ואתר צבאי בשטח לבנון ששימשו את יחידת ההגנה האווירית בארגון הטרור חיזבאללה>>

Translate post

5:29 AM · Feb 10, 2024

The IDF also said it shelled the launch sites of three projectiles that were fired from Lebanon toward the northern community of Shlomi. The projectiles landed in open areas.

On Friday night the IDF had said it struck a Hezbollah command center and another site used by the terror group’s air defense unit.

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Meanwhile, the IDF said a suspected drone infiltration alarm that sounded in northern Israel on Saturday afternoon was a false alarm.

At the same time, the Iran-backed terror group claimed Saturday that it had seized an Israeli Skylark drone over Lebanese air space “in good condition.” The Skylark is a small, unmanned aerial vehicle typically used for surveillance and produced by Israel-based weapons manufacturer Elbit Systems.

Many such comparatively inexpensive unmanned aerial vehicles, which are used primarily for reconnaissance missions, have crashed in hostile territory over the years.

As fighting raged between Israel and Hezbollah, Iran’s Foreign Minister Hossein Amir-Abdollahian met in Beirut with Lebanese leaders, including the country’s caretaker prime minister, parliament speaker and the terror group’s chief Hassan Nasrallah.

Hezbollah published pictures from the meeting that took place in an undisclosed location.

The terror group said the two discussed developments in Gaza, the situation in southern Lebanon — where Hezbollah has traded fire daily with Israel across the border since Hamas’s October 7 attack — and other fronts on the “axis of resistance.”

This handout picture provided by Hezbollah’s media office on February 10, 2024, shows Lebanese Shiite terror group’s leader, Hassan Nasrallah, meeting with Iranian Foreign Minister Hossein Amir-Abdollahian at an undisclosed location in Lebanon. (Photo by Hezbollah’s Media Office / AFP)

At a press conference with his Lebanese counterpart, Amir-Abdollahian said neither Iran nor Lebanon sought a wider war.

“Iran and Lebanon confirm that war is not the solution and that we absolutely never sought to expand it,” he said.

So far, the skirmishes on the border have resulted in six civilian deaths on the Israeli side, as well as the deaths of nine IDF soldiers and reservists. There have also been several attacks from Syria, without any injuries.

Hezbollah has named 186 members who have been killed by Israel during the ongoing skirmishes, mostly in Lebanon but some also in Syria. In Lebanon, another 25 operatives from other terror groups, a Lebanese soldier and at least 19 civilians, three of whom were journalists, have been killed.

Hezbollah has intensified its attacks over the past two days, firing a barrage of over 30 rockets at northern Israel on both Thursday and Friday evening.

Top Israeli officials have repeatedly threatened to go to war in Lebanon following the campaign to root out Hamas in Gaza, with the aim of driving Hezbollah away from the border in accordance with UN Security Council Resolution 1701, which ended the Second Lebanon War in 2006.

Israel has said it cannot tolerate Hezbollah forces along its border, where they could launch a murderous attack on civilians in a similar vein to Hamas’s October 7 onslaught.

It has increasingly warned that if the international community does not push Hezbollah away from the border through diplomatic means, Israel will take action.

Due to the concerns of another war between Israel and Hezbollah, Lebanese officials said Thursday that foreign diplomats have intensified their efforts to restore calm to the volatile Lebanon-Israel border in parallel with the ongoing negotiations for a hostage deal and accompanying truce in Gaza.

end

ISRAEL/WEST BANK

END

IRAN/USA

Meta Removes Iran Supreme Leader Khamenei’s Instagram, Facebook Accounts

FRIDAY, FEB 09, 2024 – 10:00 PM

It has been a growing trend for the US government and US-based media platforms to censor and cancel Iranian state media entities. For example the biggest instance came in 2021 when the US Justice Department seized state-run PressTV’s domain.

The DOJ had seized a total of “33 Iranian government-affiliated media websites, as well as three of the Iraqi group Kataeb Hezbollah, which it said were hosted on US-owned domains in violation of sanctions,” according to a statement at the time.

This was after it became clear that attempts to revive the JCPOA nuclear deal with the US and Europeans had failed, and as Iran-linked attacks on US based in Syria and Iraq increased. In the wake of last month’s drone strike on a Jordanian base which killed three Marines, likely from a pro-Iran militia in Syria or Iraq, this drive to remove Iranian state social media accounts has returned.

On Thursday Meta removed the Instagram and Facebook accounts of Iran’s Supreme Leader Ali Khamenei. The action is said to be largely the result of pressure from Israeli lobby groups in the wake of the Oct.7 terror attacks on southern Israel. Iranian leaders frequently use the term “Zionist entity” in English messaging and will not say “Israel” – which has been flagged as a violation of Meta’s hate speech policies.

“We have removed these accounts for repeatedly violating our Dangerous Organizations & Individuals policy,” a Meta spokesperson confirmed to English-language Arab news outlet Middle East Eye.

Meta cited its policy of not allowing “organizations or individuals that proclaim a violent mission or are engaged in violence” on its.

Ayatollah Khamenei has used his official media accounts to post in support of the Palestinian plight, and Tehran has long stood accused of backing Hamas, which is listed by the US and many European countries as a terrorist organization.

Per MEE’s figurs, “Khamenei’s Persian-language account had more than 5.1 million followers, while his English-language account had more than 204,000.”

Iranian opposition groups have also long lobbied to get Iranian leaders banned from Western social media platforms, particularly in wake of the recent ‘anti-hijab’ protests led by women in Iranian cities, which resulted in a harsh security services crackdown.

However, critics of these censorship policies have argued that there are fewer and fewer avenues left whereby an international audience can gain insight into what Tehran is thinking. Often accounts like the Ayatollah’s Instagram or X are used to communicate official statements in multiple languages to the West.

Additionally, in many cases state media are the first to report major breaking events such as bombings or assassinations within the country, or instances of alleged Israeli sabotage on Iranian nuclear facilities. Thus the opposing argument would be that such vital information is needed, and that these accounts should be kept active.

end

SYRIA/ISRAEL/Saturday

Syrian military claims Israeli airstrikes hit near Damascus; war monitor: 3 dead

British-based Syrian Observatory for Human Rights says early morning attack targeted building in upscale area near capital; unclear if reported casualties were terror operatives

By AGENCIES and TOI STAFF

Today, 12:41 pm

A screenshot from a video showing damage caused by an alleged Israeli airstrike in the countryside of Damascus, Syria, on early February 10, 2024. (Screenshot from X used in accordance with clause 27a of the Copyright Law)

Israeli airstrikes allegedly hit several sites on the outskirts of Damascus on Saturday, according to the Syrian military, while a war monitor said three people were killed in the attacks.

The strikes came from the direction of the Golan Heights, Syrian state news agency SANA reported, citing an unnamed military official. It added that Syrian air defenses shot down some missiles and those that landed resulted in “some material losses.” It was not immediately clear if there were casualties.

There was no immediate comment from Israel.

Rami Abdel Rahman, head of the British-based Syrian Observatory for Human Rights, said on Saturday that three people were killed in early morning strikes that targeted a building in an upscale area near the Syrian capital.

The war monitor said that the strikes may have killed “figures of non-Syrian nationalities” though it could not immediately confirm whether the dead were fighters.

Rahman added that many other people were injured in the strikes on a neighborhood hosting “villas for top military and officials.”

Videos circulating on social media on Saturday morning appeared to show the aftermath of the alleged Israeli strikes, including a multi-story residential building in rubble.

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Babak Taghvaee – The Crisis Watch

@BabakTaghvaee1

#BREAKING: The #Israel Air Force conducted an airstrike against an #IRGC linked target in Al-Dimas neighbourhood of #Damascus, #Syria. The target of the airstrike is said to be a group of high ranking officials of IRGC Quds Force & #Hezbollah terrorist organization.

0:17

5:52 PM · Feb 9, 2024

9,322 Views

Since the Gaza war erupted, sparked by Hamas’s October 7 massacres, Israel has stepped up a years-long campaign of airstrikes aimed at rolling back Iran’s presence in Syria, attacking both Iran’s Revolutionary Guard Corps and Hezbollah, which has been exchanging fire with Israel across the Lebanese-Israeli border since October 8.

Israel rarely comments on its attacks in Syria and has not declared responsibility for the recent strikes there, aside from its responses to the firing of projectiles launched from Syria.

The observatory said the assault was the 10th apparent Israeli strike on Syrian territory since the beginning of the year.

Presumed Israeli strikes in Syria in the past have killed high-ranking figures with Iran’s Revolutionary Guard and allied groups. In December, a strike on a Damascus neighborhood killed a high-ranking Iranian general, Seyed Razi Mousavi, a longtime adviser of the Iranian paramilitary Revolutionary Guard in Syria.

Mourners attend the funeral of Razi Mousavi, a senior commander in the Quds Force of Iran’s Islamic Revolutionary Guard Corps (IRGC) who was killed on December 25 in an alleged Israeli strike in Syria, in Tehran, on December 28, 2023. (Photo by ATTA KENARE / AFP)

The war in Gaza erupted after Hamas’s October 7 massacres, which saw some 3,000 terrorists burst across the border into Israel by land, air and sea, killing some 1,200 people and seizing over 250 hostages of all ages — mostly civilians — many amid horrific acts of brutality.

Vowing to destroy Hamas and secure the release of the hostages, Israel launched a wide-scale military campaign in Gaza which has come under increasing criticism in the region and the wider international community as it stretches into its fourth month.

A picture taken from Rafah in the southern Gaza Strip shows smoke rising over buildings in Khan Younis in the distance, following Israeli bombardment on February 5, 2024 as fighting continues between Israel and Hamas. (SAID KHATIB / AFP)

Iran, which supports Hamas both financially and militarily, has hailed the devastating October 7 attacks as a “success” but denied any direct involvement.

Since October 8, Hezbollah-led forces have attacked Israeli communities and military posts along the border with Lebanon on a near-daily basis, with the Iran-backed group saying it is doing so to support Gaza amid the war there. So far, the skirmishes on the border have resulted in six civilian deaths on the Israeli side, as well as the deaths of nine IDF soldiers and reservists.

There have also been several attacks from Syria, without any injuries.

Hezbollah has named 186 members who have been killed by Israel during the ongoing skirmishes, mostly in Lebanon but some also in Syria. In Lebanon, another 25 operatives from other terror groups, a Lebanese soldier, and at least 19 civilians, three of whom were journalists, have been killed.

END

USA/IRAQ/IRANIAN BACKED MILITIA

END

HOUTHIS/THE WEST

Biden, the Meek laughs this off

(zerohedge)

Houthis Say “American Ship” Hit By Missiles In Red Sea

MONDAY, FEB 12, 2024 – 09:00 AM

President Biden’s Operation Prosperity Guardian to shield commercial vessels in the Red Sea, along with US and UK bombing raids across the Middle East, have yet to stop Iran-backed Houthi rebel attacks around the Bab al-Mandab Strait.

On Monday morning, Houthi militants claim to have hit an “American ship” (Star Iris) with missiles in the critical waterway.

According to Bloomberg, the Marshall Islands-flagged vessel owned by US-listed Star Bulk Carriers Corp. was hit by two missiles that caused “minor damage.” The ship was transiting the Bab el-Mandeb Strait at the time of the attack.

In a statement on social media platform X, a Houthi military spokesperson said (translated from Arabic by Google):

God Almighty said: (Those who believe fight in the way of God, and those who disbelieve fight in the way of the tyrant, so fight the friends of Satan. Indeed, the plot of Satan is weak.) God Almighty has spoken the truth.

A victory for the oppression of the Palestinian people and ensuring a response to the American-British aggression against our country.

The naval forces of the Yemeni Armed Forces targeted the American ship “Star Iris” in the Red Sea with a number of suitable naval missiles, and the hit was accurate and direct, thanks to God.

The Yemeni Armed Forces, in response to their religious, moral and humanitarian duty, will continue to implement the decision to prevent Israeli navigation or navigation to the occupied ports of Palestine in the Red and Arab Seas until the aggression stops and the siege on the Palestinian people in the Gaza Strip is lifted. They will not hesitate, with the help of God Almighty, to carry out more operations in response to The Zionist crimes against our brothers in the Gaza Strip, as well as in response to the ongoing American-British aggression against our dear country.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

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العميد يحيى سريع

@army21ye

بيانٌ صادرٌ عنِ القواتِ المسلحةِ اليمنية بسمِ اللهِ الرحمنِ الرحيم قال تعالى: ( الَّذِينَ آَمَنُوا يُقَاتِلُونَ فِي سَبِيلِ اللهِ وَالَّذِينَ كَفَرُوا يُقَاتِلُونَ فِي سَبِيلِ الطَّاغُوتِ فَقَاتِلُوا أَوْلِيَاءَ الشَّيْطَانِ إِنَّ كَيْدَ الشَّيْطَانِ كَانَ ضَعِيفًا )صدقَ اللهُ العظيم انتصاراً لمظلوميةِ الشعبِ الفلسطينيِّ وضمنَ الردِّ على العدوانِ الأمريكيِّ البريطانيِّ على بلدِنا. قامتِ القواتُ البحريةُ في القواتِ المسلحةِ اليمنيةِ باستهدافِ سفينةِ “ستار أَيرسStar Iris ” الأمريكيةِ في البحرِ الأحمرِ وذلك بعددٍ من الصواريخِ البحرية المناسبةِ وكانتِ الإصابةُ دقيقةً ومباشرةً بفضلِ الله. إنَّ القواتِ المسلحةَ اليمنيةَ واستجابةً لواجبِها الدينيِّ والأخلاقيِّ والإنسانيِّ مستمرةٌ في تنفيذِ قرارِ منعِ الملاحةِ الإسرائيليةِ أوِ المتجهةِ إلى موانئِ فلسطينَ المحتلةِ في البحرين الأحمر والعربي حتى وقفِ العدوانِ ورفعِ الحصارِ عن الشعبِ الفلسطينيِّ في قطاعِ غزةَ وأنها لن تترددَ وبعونِ اللهِ تعالى في تنفيذِ المزيدِ من العملياتِ رداً على الجرائمِ الصهيونيةِ بحقِّ إخوانِنا في قطاعِ غزةَ وكذلك رداً على العدوانِ الأمريكيِّ البريطانيِّ المستمرِّ على بلدِنا العزيز والله حسبُنا ونعمَ الوكيل، نعمَ المولى ونعمَ النصير عاشَ اليمنُ حراً عزيزاً مستقلاً والنصرُ لليمنِ ولكلِّ أحرارِ الأمة صنعاء 2 شعبان 1445للهجرة الموافق للـ 12 من فبراير 2024م صادرٌ عنِ القواتِ المسلحةِ اليمنية ……………………………………. ……………………………………. In vindication of the oppressed Palestinian people, in support and solidarity with our brothers in the Gaza Strip, and as a retaliation to the American-British aggression on our country. The naval forces of the Yemeni Armed Forces targeted the American ship “Star Iris” in the Red Sea with a number of suitable naval missiles, and the strikes were accurate and direct. The Yemeni Armed Forces, in response to their religious, moral and humanitarian duty, will continue to implement the decision to prevent Israeli navigation or those heading to the ports of occupied Palestine in the Red and Arab Seas until the aggression stops and the siege on the Palestinian people in the Gaza Strip is lifted. They will not hesitate to carry out more operations in retaliation to The Zionist crimes against our brothers in the Gaza Strip, as well as in response to the ongoing American-British aggression against our dear

Earlier, United Kingdom Marine Trade Operations posted on X that the vessel under attack had reported all crew members safe.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

United Kingdom Maritime Trade Operations (UKMTO)

@UK_MTO

UKMTO WARNING INCIDENT 029 Update 001 http://ukmto.org/indian-ocean/products/warnings/2024… #MaritimeSecurity #MarSec

ALT

11:17 PM · Feb 11, 2024

The Houthis have attacked more than a dozen commercial vessels across the Red Sea and Gulf of Aden since mid-November. In recent weeks, the US and UK have retaliated with bombing raids in Yemen and across the Middle East.

The increasing threat of a regional conflict in the Middle East recently led MUFG Bank’s analysts to warn clients about “higher friction geopolitics” that could jeopardize several maritime chokepoints.

Last week, Deutsche Bank Research warned clients: “Red alert 101: Tension in the global supply chain.”

And days ago, Japanese shipping giant Mitsui OSK Lines Ltd. warned the Red Sea crisis could last up to one year.

END

NOW THIS: Biden, the lame laughs at this

(zerohedge)

Red Sea Ship Resorts To Broadcasting “All Muslim Crew” In Effort To Avoid Houthi Attacks

MONDAY, FEB 12, 2024 – 11:00 AM

Commercial vessels sailing through the Red Sea have been broadcasting that they’re not connected with Israel and or the US, aiming to avoid Iran-backed Houthi attacks. The creativity behind the broadcasts to thwart attacks has been stepped up a notch, according to research firm TankerTracker.

On Sunday afternoon, TankerTracker spotted livestock carrier Cattle Force that broadcasted the message: “All Crew Muslims” as it approached the Bab el-Mandeb Strait off Yemen’s coast.

“This is a first,” TankerTracker wrote on social media platform X.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

In recent weeks, some vessels have broadcasted “No Link To Israel,” “No Relation To Israel,” and “Nothing With Israel” to avoid Houthi attacks.

According to tracking data analyzed by Bloomberg, Cattle Force successfully sailed through a maritime chokepoint and is in the Red Sea as of Monday.

“The change was an apparent message to the Houthis, who say they’re targeting ships linked to Israel and its allies to pressure them over the war in Gaza,” Bloomberg United.

Other vessels may take notice as Japanese shipping giant Mitsui OSK Lines Ltd. warned last week that the Red Sea crisis/disruption could last six months and one year.

end

RUSSIA/UKRAINE/

Brainless Biden strikes again

(zerohedge)

Biden Rejects Putin’s Offer For Negotiations On Ukraine Issued In Tucker Carlson Interview

MONDAY, FEB 12, 2024 – 02:40 PM

Last week in the wake of the Tucker Carlson interview with Russia’s President Putin, we highlighted that Putin’s offer to the West to negotiate the end of the Ukraine war appeared genuine. “We are willing to negotiate,” Putin told Carlson in the lengthy interview. Importantly he said in reference to the US government: “You should tell the current Ukrainian leadership to stop and come to the negotiating table.”

We further noted that Russian media is touting the widely watched interview as the first time Putin has offered ‘concrete conditions’ which can lead to settlement. “I think the most important message in Putin’s interview is that Russia is ready for for a political or diplomatic solution of the Ukraine conflict,” said Dmitry Suslov, deputy director of the Center for European and International Studies at Russia’s Higher School of Economics, to Russia’s Sputnik. “But it requires a political will from the United States.” he said.

The overture’s significance also lies in the fact that Russia is winning the war, and thus has less reason to enter negotiations at this moment of having the clear upper hand. This fact alone means Putin’s words could represent a significant and authentic invitation to start serious talks.

But perhaps to be expected, the White House doesn’t see it like that, as the US has swiftly rejected Putin’s offer. A spokesperson for the White House’s National Security Council responded to the Putin interview by telling The New York Times there’s nothing to indicate this is a genuine offer out of the Russian leader.

“Both we and President Zelensky have said numerous times that we believe this war will end through negotiations,” the spokesperson said. “Despite Mr. Putin’s words, we have seen no actions to indicate he is interested in ending this war. If he was, he would pull back his forces and stop his ceaseless attacks on Ukraine.”

The NSC spokesperson also repeated a familiar Biden administration talking point, telling the Times further that “Ultimately, it’s up to Ukraine to decide its path on negotiations.”

Yet Ukraine would have to do the one thing Zelensky has vehemently refused to do: territorial concessions as well as forever giving up claims on Crimea. Even if Zelensky refuses, it is likely an inevitability, even if it takes years, Putin and his officials have pointed out.

Russia for now appears content to militarily solidify its firm grip over the four annexed territories of the east, and to continue to drain Ukraine of its manpower and ammo along the largely stalemated front lines. Planning over the future course of the war has already caused division within Kiev’s leadership, resulting in Zelensky embarking on a major military and government “shake-up”. There are also signs that a bigger Ukraine military mobilization is on the horizon, which could trigger division, and protests and unrest on Ukrainian streets.

As for Tucker Carlson’s perspective, he has since voiced as reported in Russian media, “Putin wants to get out of this war. He’s not going to become more open to negotiation the longer this goes on.”

end

6.Global Issues//COVID ISSUES/VACCINE ISSUES

Ivermectin – The Untold Story of a “Miracle Drug” [Full Episode] Support our work by: – Following our team –> @OnTheFrontline – Subscribing to The Epoch Times: https://t.co/GczcbLCGtf

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GLOBAL ISSUES

END

MARK CRISPIN MILLER

Lloyd Austin now in ICU; Tyne Daly quits “Doubt”; NBC’s Antonia Hylton, ABC’s Lara Spencer’s mother, Robin Roberts’ wife Amber, rapper Daddy Yankee’s father, Loretta Lynn’s daughter ALL have cancer

NC lacrosse coach Lyndsey Boswell, water polo star Maddie Musselman’s husband have cancer; “Steer wrestler Kyle Callaway overcomes brain cancer to rodeo again”; Dallas restaurateur Al Biernat has ALS

MARK CRISPIN MILLERFEB 12

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UNITED STATES

Pentagon chief in critical care unit, transfers power to deputy

February 12, 2024

Defense Secretary Lloyd Austin was admitted into the critical care unit for a bladder issue Sunday night after transferring his duties to the deputy Defense secretary earlier Sunday, Walter Reed Military Medical Center officials announced.

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.

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Austin, 70, underwent a series of tests and evaluations Sunday night at Walter Reed after showing symptoms “suggesting an emergent bladder issue” earlier in the day, the hospital’s doctors said in a statement. He was later admitted into the critical care unit for “supportive care and close monitoring,” doctors added.

Pentagon chief in critical care unit, transfers power to deputy

Tyne Daly Hospitalized, Drops Out Of Broadway’s ‘Doubt’; Amy Ryan Steps In As Replacement

February 6, 2024

Tyne Daly was unexpectedly hospitalized on Friday and has withdrawn from her starring role in the Broadway revival of Doubt. She’ll be replaced by Amy Ryan. No reason was given for Daly’s hospitalization, but the company said she is expected to make a full recovery.

No age reported.

Link

Booker T To Miss NXT Vengeance Day, A Few Weeks Of TV Due To Medical Procedure

February 5, 2024

In a tweet, Booker T announced that he will not be at NXT Vengeance Day, and he will be off TV for the “next couple weeks” due to a medical procedure he had to have. The WWE Hall of Famer wrote that he was all good, and he will be back on NXT in no time.

No age reported.

Link

‘I Was Panicking’ – NBC Journalist Antonia Hylton, 30, Unable To Have Bowel Movements, Learns It Was a Symptom of a Rare Cancer

February 6, 2024

NBC correspondent Antonia Hylton, 31, wants young professionals to avoid ignoring their health. It’s a lesson she learned first-hand, which contributed to her rare cancer diagnosis. Hylton says she had “constant stomach issues” and would find herself struggling to have a bowel movement. Despite these recurring problems, she continued to press forward, prioritizing her journalism career. “I learned a really important lesson at 30 to listen to myself and to put myself first,” Hylton said on the “Today Show” during an interview. Hylton was diagnosed with a neuroendocrine tumor, a rare type of cancer. According to the National Cancer Institute, neuroendocrine tumors “grow from neuroendocrine cells.” These cells can be found in organs throughout the body, and they “receive and send messages through hormones to help the body function.” “I had a series of procedures to remove tissue and screening tests to see if the cancer had spread,” she said. While not disclosing her treatment, she indicated her last scans came back “clear.”

Link

Robin Roberts Gives Update on Newlywed Life and Wife Amber’s Cancer Battle

February 2, 2024

Robin Roberts is delving into various aspects of her life, including her latest project, The Harlem Hellfighters, and providing a health update on her wife, Amber Laign. The Good Morning America co-anchor, who serves as the executive producer of the documentary, tells ET that her inspiration for the project came from her deep military roots. Roberts also provided a positive update on Laign’s health, revealing, “She is doing extremely well. The cancer is at bay, she’s recovering well and ready to move on to the next stage.” Laign had been diagnosed with breast cancer in 2021, and after facing complications during chemotherapy, she completed radiation treatment in July. The conversation took a more emotional turn as Roberts discussed her interview with Michael Strahan and his 19-year-old daughter, Isabella, who is currently battling a brain tumor. Strahan and Isabella shared their journey in a joint interview with Roberts on GMA.

No age reported.

Link

Lara Spencer inundated with support following difficult family health diagnosis

February 4, 2024

Lara Spencer shared with her latest Instagram post some more insight into her rarely-seen family, revealing that her mother was battling cancer. The 54-year-old Good Morning America anchor shared a new photo of herself beside mom Carolyn von Seelen, and referenced her diagnosis while remaining optimistic. In the photo, the cheerful mother-daughter pair held bingo cards to the camera, as Lara gushed about her strong mom and celebrated her for fighting hard and remaining joyful.

No age reported.

Link

High Point Coach Lyndsey Boswell Diagnosed with Cancer

February 5, 2024

High Point, NC – High Point women’s lacrosse coach Lyndsey Boswell was diagnosed with cancer last month, news that came to light Monday with a GoFundMe page established by Panthers men’s lacrosse coach Jon Torpey and his wife, Tegan. Boswell will continue to coach the team while undergoing treatment this spring. Picked by coaches to finish second in the Big South preseason poll, the Panthers open the 2024 season Sunday at home against Duke, which received consideration in the USA Lacrosse Division I Women’s Preseason Top 20.

No age reported.

Link

Steer wrestler Kyle Callaway overcomes brain cancer to rodeo again

February 8, 2024

Kyle Callaway returned to his Billings, Mont., home with cold medicine one quiet morning in 2022 and became violently ill. His wife Anna prepared him lunch, and as Kyle prepared to sit down, he tipped over, suffering a seizure. Anna, a nurse, called an ambulance and tried to make sense of what she witnessed. Her husband was healthy. They both worked jobs and competed in the RAM Montana Circuit in the PRCA. He had exhibited no symptoms of fatigue or headaches. A seizure? It did not make sense. The medical exams discovered a huge tumor behind Kyle’s right eye. Doctors removed the mass, and Kyle walked out of the hospital the next day to attend a junior rodeo with his daughter. Because of his age at the time (38) and the location of the mass, optimism sprouted. Then came the diagnosis. “Grade 3 astrocytoma, a malignant form of brain cancer,” said Anna. Anna broke down when she heard the news. Eager to hear a different perspective, Kyle, his hair in a mohawk and right eye swollen shut, and Anna crossed the border. “After nothing but bad news, it felt like we have got to go to Mexico, and the doctor told me I was going to beat it. The positive message helped. It was a game-changer,” Kyle said. “That’s when we decided we would do treatment (in Mexico and the states).” The couple returned home with Anna administering IVs in between the chemo treatments. Anna returned to competition and with Kyle slowly regaining his strength, he decided to join her at the Wolf Point (Mont.) Wild Horse Stampede in the summer of 2022. Kyle competed in 2023 and is back on the road this season “with more fire than ever.”

Link

Newport Beach water polo star prepares for Paris Olympics as husband battles lung cancer

February 9, 2024

The phone call struck Maddie Musselman at her very center, confirming the worst fear for the U.S. water polo star and her soon-to-be husband, Pat Woepse. Pat’s nagging cough, the one that chased him around for weeks, including on a swim across the English Channel on his 30th birthday, was a symptom of an aggressive form of lung cancer. The cough Pat had in Japan lingered after he moved in with Maddie, so he saw a doctor and got a chest X-ray. Following more tests, he learned in September that he had NUT carcinoma — a rare diagnosis that “seems to be a random, unprovoked event,” according to the Dana-Farber Cancer Institute in Massachusetts. Woepse enrolled in a clinical trial that involves a mixture of two types of chemotherapy and a pill designed for his particular form of cancer. Along the way, Woepse and Musselman made a point of avoiding any prognosis for his long-term health. “It’s so rare, there’s not a lot of data points that can point to positive and negative cases,” he said. “So that doesn’t mean anything to me. And for us, really, it’s about us. It’s about me. So you can be the outlier, in my opinion.”

Link

Daddy Yankee reveals his dad has been diagnosed with cancer

February 6, 2024

In an emotional video for the CAP Foundation of Puerto Rico, Daddy Yankee shared that his father, Ramón Ayala, a salsa percussionist, has been diagnosed with cancer. The news has deeply affected the family. The interpreter refrained from providing any additional information about his father’s health and left the intimate details for those who were close to him. This includes information such as the stage of his illness or the type of cancer he is suffering from.

No age reported.

Link

Dallas restaurateur Al Biernat diagnosed with ALS says, ‘I want people to know’

February 8, 2024

Al Biernat, the 68-year-old Dallas restaurateur who rarely forgot a customer’s name in nearly 50 years at Al Biernat’s and The Palm, has been diagnosed with amyotrophic lateral sclerosis, also called ALS or Lou Gehrig’s disease. He would love to chat with Al Biernat’s customers like he did for so many years, he tells The Dallas Morning News in exclusive interviews. “But,” he said, “they wouldn’t be able to understand me.” Biernat’s speech is slurred and he struggles to swallow, both symptoms of his neurodegenerative disease. During some of his interviews with The News, it was easier for him to communicate with emailed letters. Biernat has bulbar-onset ALS, which attacks the face and the neck first. Bulbar-onset ALS often moves faster than other forms of ALS, according to research from the ALS Therapy Development Institute, a nonprofit in Massachusetts. Doctors at UT Southwestern told Biernat the life expectancy is about three years from when his symptoms began in May 2023.

Link

end

DR PAUL ALEXANDER

Karen Kingston’s devastating substack (support her): “2021 Recorded the Greatest Loss of Elderly Adults in the History of America Per US Census Data, during the height of COVID the elderly population

grew to 6.7 million in 2020, but was devastated by the loss of more than 1 million lives in 2021, after the mRNA vaccine rollout.

DR. PAUL ALEXANDERFEB 10

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‘February 8, 2024: While doctors, medical experts, and government officials are entitled to their opinions, facts and evidence matter, especially when it comes to matters of life and death.

It turns out that the claim that the elderly, aged 85 and older, were at extremely high-risk for death (i.e. 50% case fatality rate) from COVID-19 was a giant lie. According to the 2020 US Census Data, the population of 85 and older grew to a record high of nearly 6.7 million by the end of 2020. This means that “during the height of the pandemic” the elderly population not only was NOT negatively impacted by COVID-19, but they grew to their highest numbers ever in the history of America. Prior to the mRNA vaccine rollout, Americans over the age of 85 were thriving.

I discuss the 2020 vs 2021 US Consensus data in this 3 minute clip with Greg Hunter and how the US government deleted the 2020 population data. You can watch the full interview at USA Watchdog or on Rumble.

The COVID-19 mRNA Vaccine Rollout Devastated the Elderly in 2021

Immediately after the December 11, 2020, FDA authorization of Pfizer’s mRNA nanoparticle injections, the COVID-19 mRNA vaccines were deployed to nursing homes and seniors communities across the country. By the end of 2021, more than 95% of this elderly group was both fully vaccinated and completely devastated losing a record number of more than one million lives.’

The Kingston Report

2021 Recorded the Greatest Loss of Elderly Adults in the History of America

February 8, 2024: While doctors, medical experts, and government officials are entitled to their opinions, facts and evidence matter, especially when it comes to matters of life and death. It turns out that the claim that the elderly, aged 85 and older…

END

It is over for Biden, his Presidency is over, they have to move him, our enemies will hit us…we knew he was degenerating in senility yet yesterday we knew the extent…that was no Republican special

investigator or counsel…know that…it is far worse than you think…problem for Dems is Madame VP Giggles and Cackles is disliked bigtime by all Democrats…how would they keep Biden on deck? I

DR. PAUL ALEXANDERFEB 10

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feel sorry for him on a humanity level…I want them to treat him humanely and allow him to enter his retirement…

if you are too senile, memory so bad that you CANNOT stand trial, means you CANNOT be POTUS…do you not think?

END

Yes, Russia’s Putin is 100 times, maybe 1000 times more intellectually capable and sound than President Joe Biden & the Tucker interview showed us this but folk like me always knew this! He loves his

nation, his flag, his border, his founding, his history, his peoples, his anthem etc., and all things Trump loves (aka 45), this is why Americans love Trump and Russians love Putin; Leake’s good stack

DR. PAUL ALEXANDERFEB 10

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Under what condition can you or anyone explain to me, would Putin, would Russians want or allow Ukraine to join NATO? I see none. If I were Putin I would have reacted same. If Putin was sane, how would he allow this? Would America allow Russia to station troops or nuclear bombs on the Mexican border with US? Not a trick question, think about it.

END

At no time in history, have we ever injected pregnant women with an investigational product, EVER! Pregnant women were NEVER part of any registrational Pfizer or Moderna trials so results could NOT

be extrapolated to them! No pregnant woman should have ever been given a mRNA vaccine, we had no study data to permit this! Was CRIMINAL by FDA & EUA! You only give vaccine/drug to group IN the study

DR. PAUL ALEXANDERFEB 11

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What will be the implications to pregnant women given the shots, to the babies born? Are these infants being followed long-term?

end

Shedding & menstrual bleeding: is the massive number of menstrual irregularities, the heavy bleeding in women, due to women being exposed to vaccinated (mRNA COVID shots) persons? is the anomalous

menstrual bleeding & pregnancy catastrophes due to mRNA shedding? Pores? Breath? How damaged in the reproductive system? Does shedding kill the baby? Result in miscarriages? Dr. Jim Thorp? Your view?

DR. PAUL ALEXANDERFEB 11

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At no time in history, have we ever injected pregnant women with an investigational product, EVER! Pregnant women were NEVER part of any registrational Pfizer or Moderna trials so results could NOT
DR. PAUL ALEXANDER·1:47 AM
What will be the implications to pregnant women given the shots, to the babies born? Are these infants being followed long-term? Dr. Paul Alexander’s Newsletter_Alexander News Network is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Read full story

How catastrophic is COVID mRNA shedding on women, on pregnant women? To the baby in utero? I think maybe the only global leader in this area is Dr. Thorp who has gained the respect globally. I would also love to hear what Dr. Naomi Wolf has to say given her tireless work against these mRNA vaccines and impact on the developing baby in utero as well as the mother.

Did the mRNA technology inventors Malone and Weissman et al. ever stop to think of the impact on the baby in utero? Of the mRNA and LNP complex? They knew their invention had to be transported in a lipid fatty ball to get across the body and knew the structure of the ball was toxic e.g. PEG, cationic lipids etc.…did they consider the pregnant woman or the babay in utero? Is the LNP itself shed? Did the vaccine makers stop to think? Moderna? Bancel? They certainly did not give it thought as they even did not include pregnant women or study shedding mainly because the gene shots were experimental and they knew it could kill the mother and baby as well as did not really want to get results…they were afraid of the results.

end

MURDER in the FIRST! A COVID pandemic never occured! A FAKE! COVID was a government MILITARY OPERATION, we were deceived by a ‘false-positive’ PCR-induced lie, greatest deception in history! & Malone

Bourla, Weissman et al. mRNA technology gene based mRNA gene injection was a bioweapon to depopulate, cull the planet, to kill people! IMO a binary bioweapon of sorts! NEVER was a lab leak!

DR. PAUL ALEXANDERFEB 12

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MURDER in the FIRST! A COVID pandemic never occured! A FAKE! COVID was a government MILITARY OPERATION, we were deceived by a ‘false-positive’ PCR-induced lie, greatest deception in history! & Malone

DR. PAUL ALEXANDER·JAN 31

The lab-leak theory I have come to realize is a lie! Like the COVID pandemic. 100% lie. Murder in the first! 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.

Read full story

As I have said, you drag these beasts, the entire 43 Horsemen into courts for proper tribunals, judges and juries to deal with them, to investigate, and pronounce judgement, either way, innocent or guilty, we accept and we move on. We follow the judges. If they did however cost lives as per judges ruling and if judges say death penalty then we hang them via the legal system. We have no mercy as they had none for our parents, granny etc. They suffered granny!

A crime, it was a crime, COVID was a crime, this was all set up, I think they chose Trump, studied him, knew he would fall for it, the vaccine was a crime, was baked in years before COVID Feb 2020;

DR. PAUL ALEXANDER·JAN 15

Who? Why? To topple Trump? Do we have patents filed on deck way before COVID? This was always about a vaccine, bringing it. This is about using a false-positive fraud PCR ‘process’, over-cycled it, to tell you that you were positive when you were not. This is a manufactured PCR non-asymptomatic, non-pandemic. This was never ever a pandemic. 0.04% IFR.

Read full story

end

SLAY NEWS

The latest reports from Slay News

Carbon Dioxide Is NOT Causing ‘Climate Crisis,’ Study Warns A group of leading climate scientists has issued a warning to governments and the public after conducting a study that debunks the globalist anti-carbon agenda.READ MORE

Mayo Clinic Doctor: Racism Is Causing Heart Failure Spike among Black People A politicized “expert” from the Mayo Clinic has argued that heart failure is soaring among black people because of racism.READ MORE

Reparations Advocate Sunny Hostin Exposed as Descendent of Slave Owners Sunny Hostin, a co-host of the far-left ABC propaganda show “The View,” has long advocated for the descendants of African American slaves to be given reparations.READ MORE

Putin: Why Is America Fighting for Ukraine’s Territory While Refusing to Defend Own Border?Russian President Vladimir Putin has asked a critical question that every taxpaying American voter should be demanding answers to.READ MORE

Fani Willis Tries to Block Subpoena Demanding She Testify Fulton County District Attorney Fani Willis is desperately fighting to avoid testifying about allegations that she improperly benefited from her relationship with fellow anti-Trump prosecutor Nathan Wade.READ MORE

Florida Supreme Court Considers 2024 Ballot Initiative to Add Abortion Rights to State Constitution The Florida Supreme Court is considering a 2024 ballot initiative that seeks to amend the state’s constitution to include abortion rights.READ MORE

Biden Lashes Out over Questions about His ‘Mental Acuity,’ Then Makes Several Gaffes, Starts Yelling Democrat President Joe Biden did little to quash concerns about his fitness for office during a Thursday night presser as questions about his age and mental acuity continue to mount.READ MORE

NY State Senators Urge Gov Hochul to Remove DA Bragg from Office for Releasing Migrants Who Attacked NYPD Officers State lawmakers in New York are calling on Democrat Governor Kathy Hochul to remove Manhattan District Attorney Alvin Bragg from office after the rogue pro-crime prosecutor released a gang of illegal migrants without bail after they attacked NYPD officers.READ MORE

Biden Claims He’s Been Talking to Ghosts for Third Time in a Week Democrat President Joe Biden has claimed, for the third time in a week, that he’s recently spoken with someone who has been dead for years.READ MORE

Marianne Williamson Ends Democrat 2024 Presidential Campaign Author Marianne Williamson has ended her 2024 campaign to challenge Democrat President Joe Biden.READ MORE

Jonathan Turley Slams Colorado Lawyer after Trump’s Supreme Court Ballot Hearing: ‘Parade of Horribles’Constitutional law scholar Jonathan Turley has slammed the performance of Colorado’s lawyer before the Supreme Court during his argument to remove President Donald Trump from the state’s ballot.READ MORE

Maine Democrat: Illegal Aliens Deserve to Take Priority over U.S Veterans A radical Democrat lawmaker in Maine has demanded that illegal aliens be given priority treatment over American veterans.READ MORE

The latest reports from Slay News

Biden to Eliminate Meat from Food Supply, Replace with Insects

A group of experts has just published a new report that raises the alarm about Democrat President Joe Biden’s coming policies for complying with the World Economic Forum’s (WEF) “Net Zero” agenda.
READ MORE
Evidence Proves Mail-In Voter Fraud Stole 2020 Election from Trump, Study Finds

A bombshell new study has found that voter fraud involving mail-in ballots “almost certainly” stole the 2020 election from President Donald Trump.
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Former Trump Advisor Peter Navarro May Soon Be Imprisoned for Contempt of Congress

Peter Navarro, a former senior advisor to President Donald Trump, may soon be forced to begin serving a prison sentence after being found guilty of criminal contempt of Congress charges.
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Hillary Clinton ‘Frightened’ by Trump’s Republican Support

Twice-failed Democrat presidential candidate Hillary Clinton says that she finds President Donald Trump’s “hold on the Republican Party . . . frightening.”
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Supreme Court’s Response to 14th Amendment Case Leads to Speculation of Unanimous Pro-Trump Ruling

Democrats are now in panic mode after the Supreme Court strongly suggested that it would reject efforts to remove President Donald Trump from the ballot in 2024.
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Trump’s Legal Team Blasts DA Fani Willis for ‘Outright Lie’ about Racial Remarks

President Donald Trump’s legal team has blasted Georgia’s radical Democrat prosecutor Fani Willis for promoting an “outright lie” about her critics.
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Venezuela Deploys Military to Border with Oil-Rich Guyana

Venezuela has deployed thousands of military troops, tanks, missile-equipped patrol boats, and armored carriers to its border with Guyana.
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Hecklers Humiliate Hillary Clinton at Columbia: ‘American Will Never Forgive You!’ – ‘You Will Burn!’

Twice-failed Democrat presidential candidate Hillary Clinton was humiliated by hecklers while giving an address at Columbia University.
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Teen Migrant Opens Fire on Police, Shoots Woman in New York City

A manhunt is underway in New York City after a teenage illegal alien shot a woman in Times Square before opening fire on police officers.
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Indiana Launches Investigation as Election Fraud Uncovered in Democrat Presidential Primary

Authorities in Indiana have launched an investigation after a county clerk’s office discovered evidence of election fraud related to the Democrat 2024 presidential primary.
READ MORE

EVOL NEWS:

NEWS ADDICT

LATEST REPORTS FOR NEWS JUNKIES

Alert Issued: ‘One World Government Coming Our Way’A world-renowned expert has just issued an emergency alert to the public to warn that a “one world government is coming our way.”READ THE FULL REPORT

CDC Knew Covid Shots Caused Sudden Death Surge But Covered It Up The U.S. Center for Disease Control and Prevention (CDC) became aware that Covid mRNA shots were causing an alarming surge in sudden deaths among the general public but chose to cover up the information, a bombshell new report has revealed.READ THE FULL REPORT

Biden Lashes Out at Angrily at Reporter Who Questions His Mental Fitness to Be President Reporters appear to have gotten the ‘green light’ to begin the takedown of Joe Biden’s presidency. Biden lashed out at reporters at press conference on Thursday night following disturbing revelations in the special counsel report suggesting he is mentally unfit for the office. “Mr. President, for months, when you were asked about your age, you would respond with the words, …READ THE FULL REPORT

Pawn Stars’ Rick Harrison Blames Democratic Policies for His Son’s Fentanyl Overdose Claiming They ‘Let’ the Crisis Happen.Rick Harrison, the star of the hit TV show Pawn Stars, is criticizing Joe Biden’s massive failures at the border in the wake of his son’s death from a fentanyl overdose. Harrison’s son, Adam, who wasn’t involved in his father’s TV program, passed away at the age of 39 due to a drug overdose on January 19th. Currently, in an …READ THE FULL REPORT

Supreme Court Rules Biden Administration Must Face Consequences For False Debt Reporting Lawsuits On Thursday, the U.S. Supreme Court rejected an attempt from the Biden administration to avoid a lawsuit over false debt reporting. This pivotal decision now allows consumers to take legal action against federal agencies. On February 8th, in a unanimous 9-0 ruling, the Supreme Court declared that the federal government can be sued under the Fair Credit Reporting Act (FCRA). …READ THE FULL REPORT

DC Admits VAIDS Is Surging among Covid-Vaccinated

The U.S. Centers for Disease Control and Prevention (CDC) has admitted in a new report that cases of vaccine-acquired immunodeficiency syndrome (VAIDS) are surging among people vaccinated with Covid mRNA shots.
READ THE FULL REPORT

WEF: Spike in Sudden Deaths Among African Americans Caused by ‘Racism’

The World Economic Forum-funded Mayo Clinic has just issued a warning to African Americans that the surge in heart failure-related sudden deaths since 2021 is being caused by “racism.”
READ THE FULL REPORT

CNN Sounds ‘Five Alarm Fire’ on Biden Presidency after Disastrous Press Conference

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READ THE FULL REPORT

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

Stocks Hit All Time High On “New Era In Productivity And Profitability”… Except, We’ve All Seen This Before

MONDAY, FEB 12, 2024 – 02:20 PM

By Benjamin Picton of Rabobank

Authentic Foolishness?

Another day, another record for the S&P500. This time the index closed above 5000 for the first time ever and, once again, the gains were mostly driven by the Magnificent Seven tech names. Those seven stocks posted a gain of ~1.7%, while the S&P500 ex Magnificent Seven eked out a more modest 0.25%. The rapid gains since late October last year are very much predicated on the theme of Artificial Intelligence (AI) heralding a new era of productivity and profitability, helped along by lower discount rates as bond yields fell and markets priced in an aggressive easing cycle from major central banks.

Except, we’ve been here before. New Era thinking is certainly not new, and eye-watering valuations on stocks with a compelling narrative behind them is a tale as old as time. There are loads of examples, and many of them are recent enough that we should know better. For most of us, the Dotcom boom happened during our lifetimes. Before that was the Nifty Fifty, and the Roaring Twenties before that, and the Railway Mania, and the South Sea Bubble, and John Law’s Folly, and TulipMania and so on and so forth all the way back to the neolithic. So, is Artificial Intelligence really a game-changer, or is it another case of ‘Authentic Foolishness’?

Whatever the case, the intellectual basis for the rally grows thinner by the day. The Wall Street Journal desperately asks the question ‘Stocks are at Records, But Are They Expensive?’ (spoiler: yes). We now enter the phase of New Era thinking where P/E ratios, the CAPE ratio or the Buffett Indicator are pushed to the side while alternative valuation metrics (rate of patent filings, R&D spend etc) are proffered to justify soaring valuations. It certainly feels reminiscent of measuring the number of ‘eyeballs’ Pets.com got during the Dotcom years.

So, valuations grow more stretched, expected future returns fall as prices rise, and even the easy-money tailwind from falling bond yields appears to have hit a snag as a sustained break below 4% for the 10-year continues to elude. Indeed, US 10s saw yields pump 15 basis points higher last week as markets reacted to the strong jobs report from the previous Friday, hawkish Fedspeak, firmer jobless claims figures and a revision to the last 5 years’ worth of reported CPI that saw 3 and 6 month annualized inflation creeping higher. In light of the arrayed headwinds, it’s hard not to wonder how much the huge growth in passive indexing is responsible for “feeding the beast”, or is it just a case of markets observing Chuck Prince’s infamous dictum that “as long as the music is playing, you’ve got to get up and dance”?

Given the record close for long duration equities, those upward revisions in CPI don’t seem to have scared the horses too much. The rationale being that the revisions were reasonably small and that the Fed targets PCE, not CPI. Nevertheless, market pricing on the quantum of Fed rate cuts in 2024 has shifted from 7x to just over 4x in a few short weeks, and CPI is a measure of inflation that is preferred in almost every other developed economy, so it’s hardly irrelevant to conversations of policy. The Wisdom of King Solomon says that “hope deferred makes the heart sick”, but Solomon was a hard money kind of guy, so maybe he didn’t have the effect of later rate cuts on equity valuations top of mind at the time.

Speaking of hope deferred, last week saw an interesting move in the short end of the Aussie and Kiwi rate curves. Antipodean traders wound back bets on monetary easing after New Zealand labor market figures for Q4 showed the unemployment rate rising to just 4% (instead of the expected 4.3%) and one of the local major banks broke ranks to forecast two more rate rises from the RBNZ, with the first to arrive next week. RBNZ Chief Economist Paul Conway sounded hawkish in his speech of the week before, and the new Government in New Zealand has recently trimmed the central bank’s mandate to give it a singular focus on returning inflation to 1-3% (currently 4.7%). Adding to the tone, RBNZ Deputy Governor Hawkesby today told a Parliamentary Committee that the economy “can cope with high interest rates”. Are markets being softened up for another move higher?

The RBA also tilted more hawkish at their policy meeting last week by suggesting that further rate hikes “cannot be ruled out”. Governor Michele Bullock went further in her press conference by telling assembled journalists that she sees the risk of the next move in the policy rate being a hike (as opposed to a cut) as “finely balanced”. We don’t think the RBA is likely to deliver on threats of further tightening, but the balance of risks has certainly shifted. More of our thoughts on that score here.

While antipodean central banks beef up their tightening bias, Brent crude is again trading above $80/bbl as ceasefire talks between Israel and Hamas appear to be going nowhere. Our analysts have a Q1 price target of $80/bbl on Brent, but see potential for a shift higher in H2 as the Fed begins to ease and demand catches up to supply. Of course, there is always the potential for the situation in the Middle East to get worse, and potentially disrupt energy flows through the Hormuz Strait, a scenario that our analysts suggest could see $150/bbl oil if it were to occur.

We’ve not yet mentioned the Super Bowl, or the looming end of the BTFP program and what that might mean for commercial real estate. Our Senior US Strategist Philip Marey has written an excellent note on the latter topic that you can read here. In the meantime, I’ll close by paraphrasing Lord King’s observation that the structure of our financial system encourages radical disequilibria that finds expression in soaring debt levels, soaring asset valuations and downward sloping yield curves.

Riding the asset price wave makes complete sense while the disequilibria holds, but dislocations in global trade, threats of inflation resurgence and popular discontent heighten the risk that this paradigm is not a new long-term steady state. To suggest that this really is a New Era of higher valuations, and that “this time it really is different” might be the height of Authentic Foolishness.

END

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

END

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

CANADA

“It Has To Be Done”: After Court Victory For Freedom Convoy, Canadians Ready To Sue

FRIDAY, FEB 09, 2024 – 06:20 PM

Authored by Matthew Horwood via The Epoch Times (emphasis ours),

Several Freedom Convoy protesters, buoyed by a recent victory in Canadian federal court, said they’re preparing to sue the federal government, banks, and the police that brought the 2022 protest to a heated end.

“I think it’s the second phase to what took place with the federal court case,” military veteran and plaintiff Eddie Cornell said. “We’ve got a big hill to climb, but it’s something that’s necessary. It has to be done.”

On Jan. 23, Federal Court Justice Richard Mosley issued a ruling against the federal government’s invocation of the Emergencies Act in response to the protests and blockades that gridlocked Canada’s capital Ottawa for weeks.

The government’s use of the act did “not bear the hallmarks of reasonableness—justification, transparency and intelligibility—and was not justified in relation to the relevant factual and legal constraints that were required to be taken into consideration,” Justice Mosley wrote in his ruling.

Police veteran and plaintiff Vincent Gircys, whose bank account was frozen for more than a week under the Emergencies Act, said that while he was initially “very disappointed with our justice system—having worked in there for 32 years”—he’s pleased to see that “some level of justice is being restored.”

Alberta contractor Jeremiah Jost, who, alongside his wife, drove to Ottawa as part of the convoy, said he was “incredibly encouraged by Justice Mosley’s ruling and his courage to put his neck out.”

The ruling has likely given hope to Canadians who are upset with the country’s justice system, he said.

The Freedom Convoy, a protest response to a federal mandate requiring COVID-19 vaccination for truck drivers crossing the Canada–U.S. border, resulted in an encampment of large trucks in the nation’s capital in early 2022.

The original protest action, which began in January 2022, quickly evolved into a broader, large-scale movement in opposition to pandemic mandates and restrictions, with similar demonstrations being held at several Canada-U.S. border crossings.

The federal government invoked the Emergencies Act on Feb. 14, 2022—for the first time since its creation in 1988. The act gave law enforcement expanded powers to arrest demonstrators and to require towing companies to remove protesters’ vehicles from Ottawa’s downtown core (some of which refused).

The emergency measure also allowed the national police force—the Royal Canadian Mounted Police (RCMP)—to provide banks and other financial institutions with a list of individuals and entities involved in the protests and to ask them to freeze the accounts of those on the list.

Justice Mosley ruled that invocation of the act infringed the charter’s Section 2(b), which deals with “freedom of thought, belief, opinion, and expression,” and Section 8, which deals with the “right to be secure against unreasonable search seizure.”

The action to freeze bank accounts was “not minimally impairing,” the judge said, as the measure applied everywhere in Canada—including in areas where no protests were occurring—and because there were “less impairing alternatives available” to Ottawa.

Hours after Justice Mosley’s ruling was issued, Deputy Prime Minister Chrystia Freeland said the Liberal government intends to fight it.

“We respect very much Canada’s independent judiciary. However, we do not agree with this decision. And respectfully, we will be appealing it,” she said on Jan. 23.

Lawsuits Against Government, Banks

Justice Mosley’s decision was ultimately the result of court action by five plaintiffs who participated in the protest, two of whom had their bank accounts frozen.

Three of the plaintiffs—Mr. Jost, Mr. Gircys, and Mr. Cornell—said on Jan. 29 that they plan to take further legal action against “those in government, the financial institutions who froze people’s bank accounts, and the police officers who beat up and injured innocent Canadians.”

Mr. Cornell, a co-founder of the organization Veterans 4 Freedom, said his legal team had “great success” in the federal court ruling and that he felt vindicated. His bank account was one of those that was frozen.

He said his team has established an initiative called “The Accountability Project” to fundraise for the planned lawsuit. The legal team, which is currently being assembled, will decide whether the litigation will take the form of a class-action or a tort suit.

“They want to make sure that they get it done correctly. We have complete faith in the team, because these are the guys that actually were successful with this Federal Court challenge,” Mr. Cornell said.

“I’m just hoping that Canadians will stand up and support this initiative.”

While Justice Mosley ruled that Mr. Jost lacked standing to challenge the Emergencies Act decision and ultimately dismissed his application, Mr. Jost said he was pleased to still provide video and first-hand evidence.

“I was able to be there and testify that they were filming all of us. There were snipers on the roof. They had guns, batons, rubber bullets, and pepper spray, and all those things. And they were snatching people and beating people,” he said.

“So I’m thankful I was able to be another voice for truth in the case. That was really my goal.”

‘Something Historical’

Mr. Gircys, who assisted with the logistics and coordination for the Ottawa protest, said he was in “disbelief” when city police moved in to evict the protesters from the downtown core.

“The event was peaceful, and I would never believe that our police agencies would move on peaceful protesters,” he said.

A former forensic investigator with the Ontario Provincial Police, Mr. Gircys said he had observed what was happening in regard to the vaccine mandates and travel restrictions, and as the trucker convoy converged on the nation’s capital, he felt he had to go see it for himself.

“I thought this could be something historical,” he said.

“When we arrived—and my intention was just to stay one night and head back—I could not believe how big this was, how many people were there, just how huge this event was and how incredibly happy and jovial everybody was to come together from one end of the country to the other.”

Mr. Gircys, who is based in the Toronto area and had traveled to Ottawa with his son, said he had to drive his son back to Toronto but then returned to the capital and stayed for the protest.

He said citizens came together “organically” to ensure that necessary services such as restrooms, first-aid stations, and access to fuel were provided.

“My observations with all those that I engaged with, was that this was a very peaceful event,” he said. “I’ve never seen this much unity in our country, as I had never seen such a large group of people being as happy as they were. And yet I’m constantly, every evening, observing on the news reporting that ’this was a violent, hateful group,’ and nothing could be further from the truth. This was complete propaganda.”

Mr. Gircys said that after the Emergencies Act was invoked, he heard that some individuals’ bank accounts had been frozen. Then it happened to him.

He said he was able to get some money “through the goodness and kindness around me” to fuel his vehicle to get home.

“They’re violating rights on a massive scale in a number of ways, and eventually, they moved in with police en masse again,” he said.

“Having been a former police officer with 32 years of service, and having spent time in emergency management as a member of the Emergency Response Team, I’m very aware of what was about to take place from the policing side.

“I was in disbelief that this would actually be happening, because the event was peaceful,” he said.

Mr. Gircys said he’s pleased that the court found the invocation of the Emergencies Act unjustified and he’s looking forward to filing the civil suit with Mr. Jost and Mr. Cornell.

Court Ruling Has ‘Teeth’

Chris Barber, one of the Freedom Convoy’s lead organizers, said Justice Mosley’s ruling is a “step in the right direction” and will help many Canadians see how “the government trampled on us during the protests.”

Jailed Imran Khan Claims Pakistani Electoral Win

MONDAY, FEB 12, 2024 – 02:00 AM

Via The Cradle,

Independent candidates affiliated with imprisoned Pakistani political leader Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party have won the most seats in elections for the National Assembly.

Vote counting is ongoing, but the Election Commission of Pakistan announced that independent candidates have won 98 seats so far, with the winners of 22 seats still undetermined. The majority of the independents are affiliated with Khan’s PTI party.

Members of the PTI ran as independents after the party was effectively banned last month. The Pakistani Supreme Court ruled that the party could not use its traditional electoral symbol, a cricket bat. Because many PTI supporters in rural areas are illiterate, the symbol would be the only way to identify the party on the ballot for many.

Khan was slapped with three jail sentences last week and barred from holding any public post for ten years. The former premier has been the target of lawfare since being ousted in a US-backed legislative coup in early 2022.

The PTI has been the target of harassment and even abductions of its candidates by pro-military elements that do not wish to see Khan or his party return to power.

The party has also seen restrictions imposed on rallies and media coverage, as authorities ordered journalists and television stations not to mention Khan’s party as part of their election coverage.

The Pakistan Muslim League Nawaz Party (PMLN) has won 69 seats, while the Pakistan People’s Party (PPP) has the third-most with 51 seats.

None of the country’s three major parties will win the necessary 169 seats to form a government on their own, meaning a coalition must be formed to determine the next prime minister.

Khan used an AI-generated video of himself to claim victory in the election from prison, asking his supporters to “now show the strength of protecting your vote.”

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

Chairman Imran Khan’s victory speech (AI version) after an unprecedented fightback from the nation that resulted in PTI’s landslide victory in General Elections 2024.

1:40 PM · Feb 9, 2024

5.6M View

“You kept my trust, and your massive turnout has stunned everyone,” the AI voice said in the video.

Khan’s opponent, former Pakistani Prime Minister Nawaz Sharif, was previously deposed in a coup and spent years abroad to avoid prison on corruption charges. However, Sharif is currently viewed as the military establishment’s choice.

However, some PTI candidates who ran as independents could be pressured to align with other parties when forming a coalition.

According to Michael Kugelman, the director of the South Asia Institute at the Wilson Center, “the military will likely pressure them to do so.”

Sharif’s PMLN may also be able to form a coalition with other parties and exclude the PTI from the government, Kugelman added.

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

EURO VS USA DOLLAR: 1.0769 DOWN .0007

USA/ YEN 148.99 DOWN 0.214 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2611 DOWN .0010

USA/CAN DOLLAR: 1.3469 UP .0023 (CDN DOLLAR DOWN 23 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED

Hang Seng CLOSED

AUSTRALIA CLOSED DOWN 0.31% // EUROPEAN BOURSE: MOSTLY ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES: MOSTLY ALL GREEN

2/ CHINESE BOURSES / :Hang SENG

/SHANGHAI CLOSED

AUSTRALIA BOURSE CLOSED DOWN 0.34%

(Nikkei (Japan) CLOSED

INDIA’S SENSEX IN THE RED

Gold very early morning trading: 2021.00

silver:$22.93

USA dollar index early MONDAY morning: 104.03 UP 4 BASIS POINTS FROM FRIDAY’s CLOSE.

MONDAY MORNING NUMBERS ENDS

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And now your closing MONDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 3.082% DOWN 1 in basis point(s) yield

JAPANESE BOND YIELD: +0.720% UP 0 AND 4//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.330 DOWN 3 in basis points yield

ITALIAN 10 YR BOND YIELD 3.915 DOWN 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.3695 DOWN 1 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR MONDAY

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

Euro/USA 1.0764 DOWN 0.0013 or 13 basis points

USA/Japan: 149.42 UP 0.281 OR YEN DOWN 28 basis points/

Great Britain/USA 1.2612 DOWN .0009 OR 18 BASIS POINTS //

Canadian dollar UP .0001 OR 1 BASIS pts to 1.3445

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The USA/Yuan, CNY: closed ON SHORE CLOSED

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2161)

TURKISH LIRA: 30.71 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.720…

Your closing 10 yr US bond yield UP 1 in basis points from FRIDAY at 4.195% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.389 UP 1 in basis points /12.00 PM

USA 2 YR BOND YIELD: 4.484 DOWN 1/2 BASIS PTS.

GOLD AT 11;30 AM 2012.76

SILVER AT 11;30: 22.68

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

London: CLOSED UP 1.11 PTS OR 0.01%

German Dax : CLOSED UP 110.85 PTS OR 0.65%

Paris CAC CLOSED UP 42.28 PTS OR 0.55%

Spain IBEX CLOSED UP 88.10 PTS OR 0.89%

Italian MIB: CLOSED UP 300.67 PTS OR 0.34%

WTI Oil price 73.51 12: EST

Brent Oil: 81.70 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 91.26; ROUBLE DOWN 0 AND 36//100

GERMAN 10 YR BOND YIELD; +2.3695 DOWN 1 BASIS PTS

UK 10 YR YIELD: 4.107 DOWN 2 BASIS POINTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0774 DOWN .0003 OR 3 BASIS POINTS

British Pound: 1.2628 UP .0007 or 7 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.096 DOWN 1 BASIS PTS//

JAPAN 10 YR YIELD: 0.720%

USA dollar vs Japanese Yen: 149.33 UP 0.134//YEN DOWN 13 BASIS PTS//

USA dollar vs Canadian dollar: 1.3453 UP .0006 CDN dollar DOWN 6 basis pts)

West Texas intermediate oil: 76.47

Brent OIL: 82.03

USA 10 yr bond yield DOWN 2 BASIS pts to 4.173%

USA 30 yr bond yield UP 0 BASIS PTS to 4.371%

USA 2 YR BOND: DOWN 1 PTS AT 4.474%

USA dollar index: 104.01 UP 1 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 30.72 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 91..31 DOWN 0 AND 41/100 roubles

GOLD 2019.30 3:30 PM

SILVER: 22.69 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 126.77 PTS OR 0.33%

NASDAQ UP 179.24 PTS OR 1.01%

VOLATILITY INDEX: 13.82 UP .89 PTS OR 6.88%

GLD: $187.11 DOWN 0.49 OR 0.26%

SLV/ $20.76 UP .08 OR 0.39%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

0DTE Punters Pump And Dump Momentum Stocks As “Parabolic” Tech Hits An Airpocket

MONDAY, FEB 12, 2024 – 04:17 PM

For a few hours there it seemed like the “market” was about to blast off in a carbon-copy replica of the dot com bubble.

With futures opening flat after Asia was closed for trading and with most traders sitting on the sideline ahead of tomorrow’s CPI print, it didn’t take long for the algos and the 0DTE crew to take control of market flows and promptly lift the Mag Seven (or rather the Mag AI since most of the 7 participants did not take part in today’s meltup and instead of was just the AI names) to new all time highs with the liftathon however fizzling the moment Europe closed. And then in the early afternoon, the party suddenly ended with a whimper, when two two consecutive dumps in 0DTE sparked an initial retracement of all gains and subsequently pushed it to session lows…

… which also triggered the biggest sell program of the day, as seen in the TICK puke just after 2pm.

The mini vortex first pushed such parabolic tech bubble names as ARM (which is so clearly and grotesqsuely manipulated by SoftBank again, one has to an en even greater moron than the SEC not to notice it), NVDA and SMCI to new all time highs, before an air pocket emerged, sending both names well in the red for the day before the dip buyers made another appearance.

The continued meltup in the AIvantgarde names was enough to briefly push NVDA market cap above that of AMZN, and is now breathing down GOOGL’s neck.

In the end, however, the attempt to force another all time high failed, and even though spoos earlier hit a new all time high of 5,066 they closed down 0.1%, with the Nasdaq also sliding to close 0.4% lower…

… which however did nothing to reverse the brutal squeeze that has sent the most shorted names soaring in the past week.

And speaking of ARM Holdings, its its latest 29% meltup has now brought the 3 days surge to 93%.

*ARM SOARS 29% TO BRING THREE-DAY JUMP TO MORE THAN 93%

For those confused, the move is nothing more than another gamma squeeze orchestrated by SoftBank, the same trader who famously sparked the market-wide Gamma squeeze of the Nasdaq in the summer of 2020.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

To be sure, if the market is about to crack, and Goldman warned over the weekend that that may indeed be the case as there are quite a few disconnects below the surface..

… we may have a long way to drop as the coming 30% drop in Momemtum would claim quite a few “AI” names.

Yet even a 30% drop, which Goldman specifically warned may be coming…

… would do little to dent the unprecedented outperformance of the Mag 7 vs pretty much everything else.

The rest of the market – and the rest of the day – was rather boring, with rates virtually unchanged, as the 10Y closed at 4.17%, flat on the day…

… and FX was even more boring with the BBDXY also flat. The only notable outlier was crypto, with bitcoin surging above $50,000 for the first time since Dec 2021 and even Ether finally preparing to break out…

… as all those aggressively shorting every pop higher in the cryptocurrency via futures get REKT.

Small caps outperform after big tech reverses lower ahead of CPI – Newsquawk US Market Wrap

MONDAY, FEB 12, 2024 – 04:19 PM

SNAPSHOT: Equities mixed, Treasuries up, Crude flat, Dollar flat.
REAR VIEW: NY Fed’s 3yr consumer inflation expectations ease; Saudi oil jawboning; Israel strikes Rafah; Hawkish RBNZ commentary; Dovish ECB’s Panetta; FANG to merge with Endeavor; GILD to acquire CBAY; BTC hits 50k.
COMING UP: Data: Australian NAB Business Conditions, NZ Inflation Forecast, French Unemployment Rate, Swiss CPI, UK Employment, EZ & German ZEW, US CPI Events: OPEC MOMR Supply: UK, Italy, Germany Earnings: Moody’s, Marriott, Datadog.
WEEK AHEAD: Highlights include US CPI, US Retail Sales, Aussie jobs, UK employment/wages, GDP and CPI data. To download the report, please click here.
CENTRAL BANK WEEKLY: Reviewing RBA, Banxico and RBI. To download the report, please click here.

More Newsquawk in 2 steps:

1. Subscribe to the free premarket movers reports
2. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

MARKET WRAP

Stocks were mixed Monday in choppy, Superbowl-thinned trade ahead of the January CPI report on Tuesday. The major indices initially rallied in the NY morning with Bitcoin surging towards USD 50k and NYCB extending its Friday recovery. However, NYCB shares faded their gains later on, while the SPX and NDX saw a big tech-led pullback in the absence of an obvious catalyst, although there was some attention on a Goldman note warning about extended positioning in the tech sector which may have made a mark in otherwise quiet trade. Note the equal-weight S&P 500 and the small-caps Russell 2k indices both held onto gains, particularly the latter. Meanwhile, Treasuries closed slightly firmer, also in very choppy and thin trade, after rejecting a breakout to fresh YTD peaks in yields ahead of the CPI data. The Dollar was flat with no major moves in the G10 pairs. Oil prices were choppy amid Middle East woes, a choppy Dollar, and Saudi jawboning. There was no tier 1 data in the US but we did see the NY Fed’s latest survey of consumer inflation expectations, which saw the one-year- and five-year-ahead gauges left unchanged, although the three-year ahead saw another move lower. Little new in today’s Fed Speak from Barkin, nor did BoE’s Bailey rock the boat in his speech on UK banks, although there was more attention on ECB’s Panetta’s dovish comments from the weekend.

US

NY FED SCE: The NY Fed’s survey of consumer inflation expectations saw the one-year- and five-year-ahead gauges unchanged, whilst the three-year-ahead expectations saw a decline, however, the uncertainty over all those expectations did increase “slightly”. One-year inflation expectations were unchanged M/M at 3%, which remains the lowest since January 2021 and is nearing the series’ pre-2020 average of 2.8% (inception in 2014); the gauge never rose above 3% between August 2014 and February 2021. Three-year expectations fell to 2.4% from 2.6%, now the lowest since March 2020 and comfortably beneath the pre-2020 series average of 2.9%. Five-year expectations, which were introduced in January 2022, were unchanged at 2.5%, the lowest since March 2023 and in the middle of the series’ range of 2.00-3.00%. Median year-ahead expected price changes declined for all goods tracked in the survey, where the reading for the expected price change of gas is now at the lowest since December 2022, while those for food and rent were the lowest since March 2020 and December 2020, respectively. Elsewhere in the consumer survey, the share of people who believe their financial situation will be better in a year rose to its highest level since March 2020, whilst those who say it is harder to get a loan fell to its lowest level since May 2022.

FIXED INCOME

T-NOTE (H4) FUTURES SETTLE 4+ TICKS HIGHER AT 110-23

Treasuries close slightly firmer on Monday in very choppy and thin trade ahead of CPI data on Tuesday. 2s -1.8bps at 4.470%, 3s -2.2bps at 4.257%, 5s -2.5bps at 4.126%, 7s -2.3bps at 4.161%, 10s -1.9bps at 4.168%, 20s -1.3bps at 4.475%, 30s -1.2bps at 4.369%.

INFLATION BREAKEVENS: 5yr BEI -1.7bps at 2.232%, 10yr BEI -1.6bps at 2.253%, 30yr BEI -1.4bps at 2.251%.

THE DAY: T-Notes were choppy/sideways during APAC trade – with most of the region on holiday – before hitting interim resistance at 110-26+ at the London handover before a swift reversal to troughs of 110-18+. However, a gradual recovery since then into the NY handover saw contracts hit session peaks of 110-28. Catalysts had been light ahead of US CPI on Tuesday with some dovish ECB Panetta comments from the weekend being the central bank ‘highlight’.

A healthy slew of corporate Dollar debt deals being announced was enough to weigh on Treasuries through the NY morning. There was little immediate reaction to the slight improvement in the NY Fed’s consumer inflation expectations, and T-Notes hit a session low of 110-17+ right after the release but managed to hold above the Friday/YTD lows of 110-16 despite long end contracts stretching to new lows. But as Europe closed shop, better buying surfaced, and even a 6.9k T-Note block seller failed to stop the recovery, with contracts drifting back towards the top end of ranges ahead of settlement. Looking ahead, UK employment data, UK supply, and German supply are all due Tuesday ahead of the US CPI release.

THIS WEEK’S AUCTIONS: There are no US coupon auctions this week. But in Europe, IFR reports scheduled fixed supply is set to increase to EUR 34bln from 26.5bln last week, including Germany selling 5yr on Tuesday and 30yr on Wednesday. In the UK, we get 10yr supply on both Tuesday and Wednesday. And in Japan, a 10yr climate bond (‘transition bond’) on Wednesday.

STIRS:

Fed pricing Monday has seen the March implied cut probability dip slightly to 15% from 20% on Friday, with just over 110bps of cuts still priced across 2024.
SR3H4 -0.5bps at 94.77, M4 -0.5bps at 95.11, U4 -0.5bps at 95.475, Z4 +0.5bps at 95.82, H5 +1.5bps at 96.11, M5 +2.5bps at 96.32, U5 +3bps at 96.45, Z5 +3.5bps at 96.51, H6 +4bps at 96.515, H7 +3.5bps at 96.445, H8 +2.5bps at 96.35.
SOFR flat at 5.31% as of Feb 9th, volumes fall to USD 1.581tln from 1.669tln.
EFFR flat at 5.33% as of Feb 9th, volumes flat at USD 96bln.
US sold USD 86bln of 3-month bills at 5.230%, covered 2.92x; sold USD 76bln of 6-month bills at 5.065%, covered 2.77x.

CRUDE

WTI (H4) SETTLES USD 0.08 HIGHER AT 76.92/BBL; BRENT (J4) SETTLES USD 0.19 LOWER AT 82.00/BBL

Oil prices were choppy on Monday amid Middle East woes, a choppy Dollar, and Saudi jawboning. Futures gradually sold off through the European morning, despite a brief rally after Saudi Aramco’s CEO pushed back on peak oil demand calls and said he expects 104mln BPD and 105mln BPD of demand in 2024 and 2025, respectively. WTI (H4) and Brent (J4) futures troughed for the session in the NY morning at USD 75.54/bbl and 80.77/bbl, respectively. Contracts then pared losses as stateside trade got underway, spending some time in the black and peaking at USD 77.09/bbl and 82.19/bbl for WTI and Brent, respectively, in lack of an obvious catalyst. Note some reports later on in the FT that the CIA and Mossad chiefs are to hold talks on Tuesday to revive the Hamas hostage deal, adding some optimism after the recent attacks of the Rafah crossing and Israel’s rejection of the current deal.

EQUITIES

CLOSES: SPX -0.1% at 5,022, NDX -0.44% at 17,883, DJI +0.32% at 38,797, RUT +1.75% at 2,045

SECTORS: Utilities +1.14%, Energy +1.05%, Materials +0.73%, Consumer Staples +0.63%, Financials +0.42%, Industrials +0.12%, Health +0.1%, Communication Services -0.18%, Consumer Discretionary -0.28%, Real Estate -0.37%, Technology -0.77%.

EUROPEAN CLOSES: DAX: +0.65% at 17,037.35, FTSE 100: +0.01% at 7,573.69, CAC 40: +0.55% at 7,689.80, Euro Stoxx 50: +0.61% at 4,744.45, IBEX 35: +0.89% at 9,984.70, FTSE MIB: +0.97% at 31,456.73, SMI: +0.79% at 11,179.30.

STOCK SPECIFICS:

Tesla (TSLA) 2.5%: Temporarily lowered Model Y prices in the US following a similar move in Germany.
Diamondback Energy (FANG) +9.5%: US shale rivals Diamondback and Endeavor have finalised a roughly USD 25bln cash-and-stock deal which will create an oil and gas company valued at more than USD 50bln.
Tower Semiconductor (TSEM) +2.5%: Plans an USD 8bln chipmaking facility in India, focusing on manufacturing 65nm and 40nm chips.
Trimble (TRMB) +4.5%: EPS and revenue beat, but Q1 and FY guidance was weak.
AbbVie (ABBV) -0.5%: Completes acquisition of Immunogen; reaffirmed FY24 adj. EPS guidance but downwardly revised Q1 outlook due to a USD 0.04/shr impact.
Rivian (RIVN) -2%: Downgraded at Barclays; cited the slowdown in the EV market and Rivian’s implied profit risk among the reasons.
Lowe’s (LOW) +3.5%: Upgraded at JPM and added the shares to the firm’s adding Analyst Focus List as a value stock idea.
Citi (C) -flat%: Federal Reserve has given Citigroup instructions to fix issues with how it assesses counterparty risk after work on 2020 consent order failed internal auditor test in December.
Cymabay Therapeutics (CBAY) +25.5%: To be acquired by Gilead (GILD) for USD 32.50/shr and a total equity value of USD 4.3bln. With the deal, GILD expands its liver portfolio. Note, CBAY closed Friday at USD 25.69/shr.
VF Corp (VFC) +14%: Activist investor Engaged Capital, which holds a 1.3% stake in VFC, has gained support from descendants of VF’s founder (who own around 15% of VF Corp). Engaged Capital looks for board seats, and quicker restructuring at the company.
New York Community Bancorp (NYCB) flat: Shares were choppy to start the week, as it initially continued its ascent higher after gains of 17% on Friday amid insider buying reports. In other news, Bank of America reiterated its neutral rating, while noting that leadership has “the playbook to turn things around.”
Big Lots (BIG) -27%: Downgraded at Loop Capital; said the retailer is losing awareness among consumers and has a souring financial standing.

US FX WRAP

The Dollar saw mild gains on Monday with DXY trading either side of 104.00 but looks set to enter the APAC session north of the psychological level. There was little US data released Monday, other than the January budget figures (in line with expectations) and the NY Fed’s consumer inflation expectations (1y- and 5yr-ahead unchanged, 3yr-ahead drops further), while relevant Fed Speak was limited. The main focus lies on Tuesday’s CPI release which will help market participants and the Fed gauge the timing of the first rate cut.

The Yen was flat vs the buck with Japan away for a holiday. Nonetheless, USD/JPY hit a low of 148.94 but failed to stay beneath 149.00 for long as a rise in US yields in the NY morning weighed on the Yen throughout the rest of the session, despite yields retracing back lower later on. Yuan was flat with China away for holiday.

The Euro saw mild weakness vs the buck falling sub 1.08 after hitting earlier highs of 1.0805 with downside in EUR/USD as the European session started and failed to rise back above 1.08 throughout the rest of the session. Over the weekend, ECB’s Panetta stated that the time for a policy reversal from the ECB’s policy stance is coming.

The Pound was flat vs the Dollar and Euro ahead of key data this week, including UK CPI and GDP. Ahead of the data, analysts at Rabobank write that surveys are suggesting GDP could confirm a technical recession in the latter part of 2023. It highlights the outperformance of the Pound in 2024 to date, noting “Consequently, weak UK GDP data suggests some potential for profit-taking in long GBP positions”. However, Rabo says they would favour buying GBP on dips vs the Euro and see EUR/GBP to move towards 0.84 in the latter part of 2024. UK employment data is due first on Tuesday.

Antipodeans were mixed. AUD was flat vs the buck but the NZD lagged despite hawkish RBNZ commentary. RBNZ Governor Orr said inflation is still too high, which is why they have kept the cash rate at 5.5%. Deputy Governor Hawkesby noted the financial system can cope with high interest rates, it remains strong and prices have stabilised in housing markets over the last six months. Attention turns to the New Zealand inflation expectations and RBA’s Kohler both on Tuesday.

Loonie was flat vs the buck with early weakness pared as oil prices gained. Scandis saw decent gains vs the Euro with both SEK and NOK performing well but NOK outperformed its Scandi peer which benefited from a turnaround in crude prices.

In EMs, BRL, MXN, and CLP were flat while COP saw gains vs the buck on higher crude prices. In CEE, PLN saw gains vs the Euro but HUF and CZK saw weakness. Elsewhere, the Rouble and Lira softened but Rand strengthened vs the Dollar. INR was flat after Jan CPI came in as expected (5.1% Y/Y) and Dec industrial output data beat expectations (3.8% vs exp. 2.4%). ILS was firmer despite Moody’s credit rating downgrade, citing geopolitical risks and institutional quality.

MORNING TRADING//

end

II USA DATA

Fed Says Bank Deposits Exploded Higher Last Week (As NYCB Hit The Fan)

FRIDAY, FEB 09, 2024 – 04:40 PM

Even before the last week’s chaos surrounding New York Community Bancorp, US bank deposits (non-seasonally-adjusted) had been collapsing. But this week – amid the chaos – deposits exploded $147BN higher (NSA)…

Source: Bloomberg

On a seasonally-adjusted basis, total deposits rose a stunning $101BN last week – the biggest weekly increase since June 2021…

Source: Bloomberg

And excluding foreign deposits, domestic banks saw the largest deposit inflows since May 2021 (+$81BN SA) with Large banks +$61.5BN and Small banks +19.5BN. On an NSA basis, domestic deposits jumped $131BN, with Large banks adding $103BN and Small banks adding $28BN…

Source: Bloomberg

On the other side of the ledger, loan volumes increased for the 4th week in a row with large banks adding $17.9BN and Small banks adding $5.4BN…

Source: Bloomberg

And finally, as a reminder – despite the rebound off the lows this week in regional bank shares, which must mean everything is awesome, right? – the regional bank crisis is still very much alive as evidenced by the red line below (without The Fed’s imminently expiring BTFP facility)…

Source: Bloomberg

…what else are big banks (green line) going to do with all that cash burning a hole in their pockets?

The bottom line is – this looks a lot like a ‘Small Bank’ crisis. The last time this happened, the crisis sparked a sudden $300BN ‘run’ in small bank deposits…

Source: Bloomberg

Is The Fed ‘hoping’ for a controlled bank-run this time – so as many small bank deposits are drained voluntarily, before they are drained all at once in a panic (and the Reverse Repo facility is empty, unable to provide any cushion)?

END

TUCKER CARLSON

III USA ECONOMIC COMMENTARIES

But Biden economics state that there are huge job gains in the USA

(zerohedge)

Cisco To Fire “Thousands”, Adding To Firehose Of Tech Layoffs Since Beginning Of 2024

FRIDAY, FEB 09, 2024 – 06:05 PM

The tech industry has been so delirious about the vast wealth that pervasive chatbots will supposedly unleash, it forgot about the massive layoffs on the road to AI nirvana. Luckily, every day there is a new tech giant to remind us of just how much fewer jobs will be needed in said future, and how laughable the Biden Labor Department’s “strong jobs data” is… and today it was network giant Cisco’s turn.

According to Reuters, Cisco will lay off “thousands of employees”, as part of a business restructuring which seeks to “focus on high-growth areas”…. such as AI/chatGPT of course. The San Jose-based company, which has a total employee count of 84,900 according to its website – is still deciding on the total number of employees to be affected by the layoffs, but it will certainly be substantial. The official announcement will likely come next week, when the company holes its earnings call on Feb. 14.

In November 2022, Cisco announced during an earnings call a restructuring that impacted roughly 5% of its workforce which lead to $600 million in severance and other charges. Back then Cisco cut its full-year revenue and profit forecasts, and blamed the weakness on a slowdown in orders in the first quarter, saying “customers are currently focused on installing and implementing products in their environments.” The coming mass termination will probably reiterate continued weakness even as the lunatic buying up chatGPT chips and hot air keep bidding up the AI bubble.

Cisco joins dozens of other tech companies which have started 2024 – a year when supposedly the economy is bursting higher according to fans of the president with dementia and where AI stocks are soaring – with another brutal wave of job cuts, paring back even further after widespread layoffs last year.

So far, nearly 34,000 tech workers have lost their jobs in 2024 according to Layoffs.fyi.

Prior to Cisco, Snap and DocuSign became the latest examples, announcing earlier this week they they are reducing their workforces by about 10% and 6%, respectively. Earlier this month, software company Okta Inc. said it would eliminate 7% of its staff to reduce costs, affecting about 400 employees. The list goes on, including Big Tech employers like Amazon.com, Salesforce and Meta Platforms.

This year, “tech companies are still trying to correct for their over-hiring during the pandemic surge, given that the high interest-rate environment and tech downturn have both lasted longer than initially expected,” Layoffs.fyi founder Roger Lee told Bloomberg.

There have been two main waves of job cuts in recent years, according to Lee. The “early Covid” spike, from the first to second quarters of 2020, and the “interest rate hike” effect, which has been going on since the second quarter of 2022. “This year’s layoffs are typically smaller and more targeted than the layoffs a year ago,” Lee said.

Although economic factors are the main reason for tech layoffs, Lee noted that many companies are citing the race for artificial intelligence as a factor, as they are shifting resources to focus on AI talent. According to an analysis by CompTIA, which tracks employment trends in the tech industry, job postings in “artificial intelligence or requiring AI skill increased by about 2,000 from December to January, to 17,479.”

“I do feel like most of the layoffs have happened, and companies are going to start to rebound,” said Bert Bean, chief executive officer of staffing company Insight Global. “But it’s still very uncertain.” He expects the market to remain that way for about the next two quarters, “until the Fed really comes out and starts to cut interest rates.”

Good luck with Bert, who clearly has zero conflicts of interest. And also good luck to anyone else who believes that BS from the BLS that unemployment is “falling”; instead here is the truth, and this covers just the past few weeks.

1. Twitch: 35% of workforce
2. Roomba: 31% of workforce
3. Hasbro: 20% of workforce
4. LA Times: 20% of workforce
5. Spotify: 17% of workforce
6. Levi’s: 15% of workforce
7. Xerox: 15% of workforce
8. Qualtrics: 14% of workforce
9. Wayfair: 13% of workforce
10. Duolingo: 10% of workforce
11. Washington Post: 10% of workforce
12: Snap: 10% of workforce
13. eBay: 9% of workforce
14. Business Insider: 8% of workforce
15. Paypal: 7% of workforce
16. Okta: 7% of workforce
17. Charles Schwab: 6% of workforce
18. Docusign: 6% of workforce
19. UPS: 2% of workforce
20. Blackrock: 3% of workforce
21. Citigroup: 20,000 employees
22. Pixar: 1,300 employees

According to the Biden Bureau of Goalseeked Statistical Bullshit, none of this is happening…

END

Will Commercial Real Estate Trigger The Next Crisis?

(Daniel Lacalle)

MONDAY, FEB 12, 2024 – 06:30 AM

Authored by Daniel Lacalle,

The latest inflation figures in the United States look relatively positive, with a slight decline in annualized inflation rates. However, only three items of the CPI components declined in December.

Persistent inflationary pressures that threaten to undermine the rate-cut narrative that financial markets have adopted are present below the surface. Investors expect the Federal Reserve to pump the monetary laughing gas machine, anticipating further rate cuts and monetary easing to support multiple expansions. However, in this wave of fervent optimism, there are dark clouds looming on the horizon: another wave of regional bank troubles added to the burgeoning crisis in the commercial real estate market.

The regional bank crisis was disguised with liquidity, but reality showed that unrealized losses in the banks’ balance sheets rose to all-time highs in the third quarter of 2023. Regional banks remain in deep trouble.

According to Moody’s, major US banks are sitting on $650 billion in unrealized losses.

Things are even scarier in the land of real estate. Recent reports paint a grim picture of the commercial real estate landscape, with delinquency rates soaring to alarming levels and non-performing loans rising. The commercial real estate market, once an example of economic strength, stability, and prosperity, now stands on the edge of crisis.

Delinquency rates in commercial real estate have reached a 10-year high, with almost $80 billion worth of property in distress. According to MSCI Real Assets and Fortune, the value of buildings that were bankrupt, under foreclosure by lenders, or in the process of liquidation rose by a net $5.6 billion in the third quarter of 2023. Office properties accounted for 41% of the $79.7 billion total.

According to real estate experts John Smith, the link between corporate bankruptcies and commercial real estate distress is deeply intertwined. One of the central findings of Smith’s research is the interconnected nature of corporate financial health and commercial real estate performance. He notes that corporate bankruptcies can trigger a cascade of financial repercussions, affecting property values, rental income, and investor confidence. This highlights the importance of understanding the broader economic context in assessing the risks and opportunities in the commercial real estate market.

Corporate bankruptcies also exert downward pressure on commercial property values, as distressed companies liquidate assets and reduce their real estate footprint. This can lead to declining rental income and occupancy rates, further exacerbating financial distress for property owners and investors. Smith’s analysis underscores the need for proactive risk management strategies to mitigate the impact of corporate bankruptcies on commercial real estate investments.

So, what does this all mean for the Federal Reserve? The Fed finds itself caught between a rock and a hard place, having to choose between inflation and financial stability. On one hand, persistent inflationary pressures require a monetary contraction and maintaining elevated rates. On the other hand, the risk of a collapsing commercial real estate market threatens to unleash a wave of financial contagion with far-reaching implications for the broader economy.

Remember 2007?

Market participants also said that subprime was not a threat because it was a relatively small proportion of all assets in the financial system. This is the same argument that we read today. However, the risk of contagion and the domino effect of corporate bankruptcies and impact on all real estate -not just commercial- is not small.

Will the Federal Reserve choose liquidity and financial stability over reducing inflation? Quite likely. However, the Federal Reserve’s concept of financial stability also means zombification.

One possible course of action for the Federal Reserve is to keep rates and continue with back-door monetary easing as it did in 2023. This may help markets but is only kicking the can forward without the inevitable clean-up of the “everything bubble” created in 2020.

The challenge is that cutting rates may be too little for the accumulated problems of the commercial real estate sector, as it is not just a problem of rates but the evidence of bloated valuations, and rate cuts also risk exacerbating inflationary pressures and fueling other asset bubbles.

Cutting rates will not solve the economy from the problems built through unnecessary stimulus plans and ultra-low rates. Now, inflation erodes the real economy and monetary policy cannot disguise the excessive valuations of the past years for a prolonged period.

The rise of delinquency rates in the commercial real estate market creates a significant challenge for the Federal Reserve, and they will not be able to disguise it with liquidity. The market seems to think this issue is irrelevant. I would be more cautious.

end

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

END

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

END

SWAMP STORIES

the left’s assault on AI

(zerohedge)

Crowd Sets Waymo Driverless Car Ablaze In Lawless San Francisco

Gia Vang

@Gia_Vang

BREAKING: An autonomous Waymo vehicle is intentionally set on fire in Chinatown, according to SF Fire. Firefighters said they got reports around 10 people were involved. Waymo said “a crowd surrounded and vandalized the vehicle, breaking the window and throwing a firework …

1:44 AM · Feb 11, 2024

1.9M Views

MONDAY, FEB 12, 2024 – 08:20 AM

A Waymo self-driving car was targeted and deliberately set ablaze by a group of people in San Francisco’s Chinatown on Saturday evening. This incident is part of a rising trend of hostility towards autonomous vehicles, highlighted by an individual late last year on X: “The AI crusades have begun.“

Local media outlet NBC Bay Area reports the self-driving Jaguar was traveling on Jackson Street, between Stockton and Grant, around 2100 local time when 10 to 15 people attacked it.

Videos on X show a group of people vandalizing the self-driving car.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

Gia Vang

@Gia_Vang

1:44 AM · Feb 11, 2024

1.9M Views

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

Then someone tossed fireworks inside the vehicle, and that’s when the fireworks show began.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

“We are working closely with local safety officials to respond to the situation,” Waymo said in a statement to The San Francisco Standard. The startup added that the car was not transporting any passengers at the time of the incident.

This comes after a string of attacks on self-driving cars across the progressive crime-ridden metro area.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

Back in July, we pointed out that members of Safe Street Rebels, a group that says these cars are “polluting, dangerous & murderous,” were coning driverless cars across the city.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-

Why would people be fighting against the machines? As Goldman recently explained, “AI Will Lead To 300 Million Layoffs In The US And Europe.”

As one X user said last year, “The AI crusades have begun.”

end

Squatters Are Taking Over Homes All Over The Nation On An Industrial Scale And Turning Them Into Dens Of Crime

MONDAY, FEB 12, 2024 – 01:00 PM

Authored by Michael Snyder via The Economic Collapse blog,

Squatting has always been a problem, especially in certain parts of the nation, but now it is happening on an industrial scale all over America.

Thanks to online listings, it is easier than ever to identify properties that are vacant, and many states have laws that make it exceedingly difficult to get squatters out once they have settled in. In some cases, squatters are able to live rent free in beautiful homes for months or even years. This is becoming an absolutely massive problems, especially in certain areas of the country. For example, it is being reported that squatters have taken over approximately 1,200 homes in the Atlanta area…

Squatters are ruining entire neighborhoods in Atlanta and police response to evict is so slow, some homeowners have resorted to paying nuisances to leave.

Brazen squatters even opened an illegal strip club on a property they had taken over — one of the 1,200 homes which has been squatted in the city, according to the National Rental Home Council (NRHC) trade group.

“I’d be terrified in Atlanta to lease out one of my properties,” Matt Urbanski, who manages a local home-cleaning company, told Bloomberg.

There is no way in the world that I would want to own a rental property in that city.

If you can believe it, there is even one company that has been running ads on social media offering to find a prime squatter home in Atlanta for you for a fee…

At first glance, it looks just like another real estate pro hustling to rent homes on social media.

But at 1 Time Payment Homes, the site makes it clear these are squatter homes and spells out just what that means in a pinned Insta story.

“The company’s owners will come out, so will the police. The police will tell you there’s nothing they can do about it — squatters rights,” our Channel 2 producer J.P. read off the Instagram account.

Recently, 1 Time Payment Homes has actually been running a “New Year’s special”.

$1,400 will get you the keys to a squatter home so that you can “stack money and turn ya life around”.

Whoever is behind 1 Time Payment Homes should be in prison.

But that is not how America works in 2024

Instead, I wouldn’t be surprised if someone gave those behind 1 Time Payment Homes some type of award.

Of course it isn’t just in Atlanta where squatting has become such a widespread issue.

In the state of Washington, squatters have taken over an entire apartment complex and have turned it into a den of crime…

Squatters and crime are taking over a Fife apartment complex. Families and the people handling the property are both beyond frustrated.

The problems are at the Sherwood Park Apartments. Police say the situation also attracted a ton of criminal activity. Now officers regularly patrol the area because of all the problems.

Most of the units at the complex are covered in plywood.

“It’s bad,” said Angel, a resident at the apartments. “The cops are here 24/7. Every day, every night. I keep my kids inside. I don’t let them out.”

Thanks to the absurd laws in that state, it isn’t going to be easy to get those squatters out.

California also has ridiculous laws, and right now “a very sophisticated criminal ring of squatters” is making a ton of money from the Beverly Hills mansion that they have occupied…

A Beverly Hills mansion seized by the court from a fugitive surgeon behind California’s biggest insurance fraud scheme is now a wild party house taken over by squatters, who are profiting off of regular ragers that are driving neighbors nuts.

The Mediterranean estate at 1316 Beverly Grove, listed for $4.5 million has been occupied by “a very sophisticated criminal ring of squatters,” the home’s listing agent John A. Woodward IV tells Los Angeles magazine. The squatters, he believes, are earning upwards of $30,000 a month renting rooms and hosting huge house parties with $100 entry fees.

This sort of thing is happening all over the nation, but the worst problems are in blue states with laws that are very favorable for squatters.

Every single day, predatory squatters are scanning online listings in order to identify their next targets…

It’s also gotten easier for squatters to find homes to move into.

Online listings and virtual real estate agents can allow squatters to find vacant addresses and gain access by booking fake appointments.

Some people may not even know they are squatters as scam artists can set up fake listings for empty properties and fake lease agreements.

Once a squatter is in, it’s hard to get them out. It can take three months to get a court hearing for an eviction, and another three months to get a deputy or marshal to clear out the home.

What these squatters are doing is so wrong, but it is getting worse with each passing year.

Meanwhile, things just get harder and harder for people that are trying to do things the right way. In recent years, many have seen rental prices skyrocket to absolutely insane levels…

Single mom Caitlyn Colbert watched as rent for her two-bedroom apartment doubled, then tripled and then quadrupled over a decade in Denver — from $750 to $3,374 last year.

Every month, like millions of Americans, Colbert juggled her costs. Pay rent or swim team fees for one of her three kids. Rent or school supplies. Rent or groceries. Colbert, a social worker who helps people stay financially afloat, would often arrive home to notices giving her 30 days to pay rent and a late fee or face eviction.

“Every month you just gotta budget and then you still fall short,” she said, adding what became a monthly refrain: “Well, this month at least we have $13 left.”

The worse that housing affordability becomes, the more people are going to be tempted to engage in squatting.

Of course this squatting crisis is just one of the ways that our society is descending into complete and utter lawlessness.

We wanted a society where anything goes, and now that is precisely what we have got.

If you need to leave your home for a while, you may want to lock it up very tight, because there are plenty of squatters that would love to invade while you are gone.

* * *

Michael’s new book entitled “Chaos

KING REPORT

The King Report February 12, 2024 Issue 7178

Independent View of the News

On Friday, Fangs soared in early trading. The NY Fang+ Index hit +1.7% near 11:08 ET. Snowflake was +4.8% and Nvidia was +3.1% at the time. ESHs traded moderately negative but sideways from the Nikkei opening until they jumped higher at the 3 ET European opening. ESHs prodded higher until they soared from 5003.25 at 8:28 ET to a daily high of 5043.00 at 8:32 ET (40 handles in only 4 minutes!). The BLS revised December CPI to +0.2% m/m from 0.3%. The other revisions from the expected Annual CPI Revisions report were mundane, Q4 core CPI was unchanged at 3.3% y/y. The official release appeared at 8:33 ET. This means once again, someone got the US economic data release early and traded on it. Isn’t it obvious that with the BLS, by reducing December CPI by the de minis, tried to influence the markets? November was revised to +0.2% m/m from +0.1%; October was revised to +0.1% from 0. The fin media heralded the December reduction while ignoring the November and October increases. The traders that got long on the leak that December would be revised lower by 0.1 got caned when the news that November and October were revised 0.1 higher was obtained. ESHs then tumbled to 5016.25 at 9:28 ET. Traders reflexively bought the NYSE opening dip; ESHs rallied to 5034.00 at 11:12 ET; the S&P 500 Index hit 5015.90. Liquidation for the 11:30 ET European close took ESHs to 5024.75 at 11:32 ET. A Noon Balloon appeared; the rally accelerated in the afternoon. At 14:40 ET, the S&P 500 Index was 5028.91, +31.00 while the DJIA was -20.00 and the DJTA was +70.12. Why the disparity? The NY Fang+ Index was + 1.8%! The usual suspects went postal on Magnificent 7 stocks! Their over-weighting in the S&P 500 Index drove ESHs higher. The NY Fang+ Index is up 28.4% since October 26, 2023, and 74.5% since March 13, 2023! Yes, Virgina, the Fed and the Treasury have spawned another bubble! @charliebilello: The top 10 holdings in the S&P 500 now make up over 32% of the index, the highest concentration we’ve seen with data going back to 1980. https://twitter.com/charliebilello/status/1756721141547196867 ESHs hit a daily high of 5048.50 at 14:47 ET. They sank to 5039.00 at 15:50 ET via an A-B-C decline. The late manipulation pushed ESHs to 5045.75 at 15:55 ET. ESHs slid to 5042.25 at the NYSE close. “Jeff Bezos unloaded 12 million shares of Amazon this week, the first time the billionaire has sold the company’s stock since 2021.” – BBG Positive aspects of previous sessionFangs soared; The S&P 500 Index closed well above 5000 (5026.61) Negative aspects of previous sessionFangs are keeping the equity indices buoyant while general market breadth deteriorates.USHs declined modestly until late trading pushed USHs to +2/32 at the NYSE closeThe Mag 7 are the latest US equity bubble“Nvidia $1.7tn market cap same as China stock market” – BofA, via @ZeroHedge Ambiguous aspects of previous sessionWhat will Democrats and Team Obama do about Biden? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5019.00Previous session S&P 500 Index High/Low: 5030.06; 5000.34 U.S. stocks are about to accomplish something that hasn’t happened since 1972The S&P 500 SPX is on track to rise for the 14th week out of 15 on Friday. According to Dow Jones Market Data, the last time the large-cap index recorded a comparable stretch of weekly gains was March 10, 1972. This will mark the 13th time it has happened since the index’s inception in 1957…https://www.marketwatch.com/story/u-s-stocks-are-about-to-accomplish-something-that-hasnt-happened-since-1972-6bebd418 Just like Team Obama-Biden, Nixon had the Fed and US Treasury juice the market for his reelection in 1972. The S&P 500 Index peaked at 120.24 on January 12, 1973. It plunged to 62.28 on October 4, 2974. Inflation soared, the US entered its worse economic recession since the Great Depression; the Amex, equivalent to Nasdaq at the time, lost 80+% of its value. The Worst Bear Market That Nobody Ever Talks AboutThe market collapse of 1973-74 has been oddly ignored in the annals of investing. Yet it was truly epochal, and on a par with the 1930s…https://theirrelevantinvestor.com/2016/05/04/the-worst-bear-market-that-nobody-ever-talks-about/ Why This Bear Market Is Different – NYT September 1, 1974So far, the prolonged decline—since the end of 1968, the typical stock has dropped 70 per cent in value, according to a broadly based Value Line index… Last week, the Treasury Department paid a record 9.93 per cent to borrowers at its auction of 180‐day Treasury bills… These competitive yields are as much a part of the stock market’s problem, as the 12 per cent inflation rate, general investor disenchantment and economic uncertainty… When an old stock favorite like Polaroid plunges from 143½ to 18⅛ within a year, that isn’t exactly conducive to forming bull‐market psychology… Common stocks have been good ‘inflation hedges’ historically only when the rate of inflation has been moderate and relatively predictable. Stocks have done poorly during periods of rapidly accelerating inflation.”… https://www.nytimes.com/1974/09/01/archives/why-this-bear-market-is-different-different-bear-market.html @FixTheFed: The greatest trick the fascist/socialist globalists have every played is keeping Americans thinking that our financial system is still capitalist… President Biden @POTUS: Good news for folks as we start the weekend. The stock market going strong is a sign of confidence in America’s economy. (Thanks to Fed leftists and Yellen!) @PhilipWegmann: On Super Bowl Sunday, Biden takes on “shrinkflation,” the phenomenon whereby corporations give you “fewer chips, but they’re still charging ya just as much.” (Not shown in CPI!)https://twitter.com/PhilipWegmann/status/1756724842236113084 Today – Traders will play for the Monday Rally. The S&P 500 Index has broken out above 5000, the Magnificent 7 are bubbling up, Nvidia’s results don’t arrive until next week; and China is closed all week. ESHs are -0.75 and USHs are +9/32 at 20:05 ET in quiet Super Bowl, Chinese Lunar New Year trading Fed Gov. Bowman 9:20 ET, Richmond Fed Pres Barking 12:00 ET, Minn Fed Pres Kashkari 13:00 ET S&P Index 50-day MA: 4770; 100-day MA: 4559; 150-day MA: 4534; 200-day MA: 4463DJIA 50-day MA: 37,471; 100-day MA: 35,693; 150-day MA: 35,412, 200-day MA: 34,972(Green is positive slope; Red is negative slope) S&P 500 Index – Trender trading model and MACD for key time framesMonthly: Trender and MACD are positive – a close below 4314.46 triggers a sell signalWeekly: Trender and MACD are positive – a close below 4690.11 triggers a sell signalDaily: Trender and MACD arepositive – a close below 4911.70 triggers a sell signalHourly: Trender and MACD are positive – a close below 5011.37 triggers a sell signal ABC News: 86% of Americans think Biden, 81, is too old to serve another term as president… includes 59% of Americans who think both he and former President Donald Trump… too old and 27% who think only Biden is too old. https://abcnews.go.com/Politics/poll-americans-on-biden-age/story Hillary Clinton calls Joe Biden’s age a ‘legitimate issue’ (The move to remove Joe is underway!)https://nypost.com/2024/02/10/news/hillary-clinton-calls-joe-bidens-age-a-legitimate-issue/ James Carville says Biden skipping Super Bowl interview is a ‘sign’: ‘No other way to read this’ https://t.co/Ly1ApQDGFt Carville: Biden Is Not Going to Debate Trump https://t.co/sY1GVq8GBC Dem’s “Catch 22”: The only way for The Big Guy to change Americans’ perception of his mental capacity is to appear in public more frequently and speak more often. Anyone want to take that chance?Democrat insiders say it is now ‘panic time’ and party should dump Joe BidenThe leading candidates to replace him include California governor Gavin Newsom and Michigan governor Gretchen Whitmer… ‘I think it is now panic time. Biden should not be our standard bearer’… ‘He looked like a deer stuck in the headlights last night. There isn’t enough gas in the tank for another four and-a-half years. Ultimately we’re going to see more prominent Democrats saying the quiet part out loud. ‘It’s increasingly clear we have a deeply flawed candidate. Democracy is in the balance, and this is not a smart path for our party.’… https://trib.al/ENTCD3T @JustTheNews: Michelle Obama won’t replace Biden in 2024, former senior Obama advisor says(Not just a ‘former senior Obama advisor’; it’s David Axelrod, BHO’s political brain & guru!)https://justthenews.com/politics-policy/elections/michelle-obama-wont-replace-biden-2024-former-senior-obama-advisor-says @amuse: Special Counsel Hur did the GOP a huge favor. Now that the investigation has been closed Congress can start hearings and force everyone to testify about the President’s classified document scandal. No one can use the ‘ongoing investigation’ excuse to refuse to talk. Biden has also waived executive privilege related to the matter. Get all the documents. Get everything. @RNCResearch: CNN’s Elie Honig on Biden’s denial he shared classified documents with his ghostwriter: “He’s ON TAPE — after he’s out of the vice presidency — saying to his autobiographer, ‘the classified documents are in the basement.’ He knew it!”https://twitter.com/RNCResearch/status/1755774204991906084 @paulsperry_: A military officer detailed to VP Biden’s staff was so disturbed by reckless “mishandl[ing]” of classified materials in Biden’s office that in Oct 2016 she wrote a “For the Record” memo protesting (“I do not agree” w/) Biden taking home classified info to write his book @DowdEdward: The mere fact that Biden’s handlers allowed him to do a press conference at 7:45 PM today after months of keeping him from the Press is proof that they are setting him up to fail. The rug pull is happening before your eyes. The decision has been made…he is done. Only Question now is who is up to bat for replacement. @charliekirk11: While attempting to prove he remembers the date of his son Beau’s death, Joe Biden appears to forget where his son’s rosary was from: “I wear since the day he died, every single day the rosary he got from Our Lady of…” (Joe went blank, then changed subject.)https://twitter.com/charliekirk11/status/1755763120784744543 @SteveGuest: CNN’s Paul Begala on Joe Biden’s press conference performance: “I slept like a baby last night. I woke up every 2 hours & wet the bed. This is terrible for Democrats. And anybody with a functioning brain knows that.” Begala then takes a shot at Biden for not knowing when he was vice president. https://t.co/ttKJfVuSgo @nytimes: The special counsel’s report and President Biden’s performance at a last-minute news conference on Thursday night placed his age, the singularly uncomfortable subject looming over his re-election bid, back at the center of America’s political conversation. https://t.co/5M5UbmVvlt Age isn’t just a number. It’s a profound and growing problem for Biden. – PoliticoThe new blunders detailed in the special counsel’s report have sparked fresh concern about the president’s mental fitness. https://www.politico.com/news/2024/02/08/biden-mental-fitness-major-focus-00140503 Biden: “I am an elderly man … I know what the hell I’m doing” – AxiosFor years now, President Biden’s advisers have carefully choreographed his every move to avoid what exploded into view over six hours Thursday: a vivid display of an elderly, irritable man struggling on a public stage… Thursday’s stunning events — Hur’s description of Biden in the report, then Biden’s shaky press conference — alarmed many senior Democrats, including former aides to Biden… One House Democrat called Biden’s verbal slip-ups “awful,” and wondered why the president’s staff allowed him to hold a press conference — then field reporters’ shouted questions — “that late at night after a full day,” instead of Friday morning, when he’d be “fresh.”https://www.axios.com/2024/02/09/biden-defends-memory-2024-election?s=02 By propping up Biden, Dems are committing elder abuse — and abusing the nationIt’s embarrassing to have the most powerful man in the Western world shepherded like a toddler through events by his wife, aides and even the Easter Bunny… it’s downright criminal when it’s happening in the Oval Office, aided and abetted by people who are supposed to love the president and protect the country over party… People like Jill, Scarborough, his old pal Nancy Pelosi — who called him a “kid” — and others propping up this lie deserve Americans’ contempt… https://t.co/p8pFaRBf3q Biden ghostwriter escapes special counsel charges despite deleting evidenceZwonitzer admitted to the FBI that he “was aware that there was an investigation” when he deleted the evidence… https://t.co/J6djk8tpAQ Biden classified memos report re-ignites debates about dual justice, ‘diminished’ presidentFamed liberal icon Alan Dershowitz decries Hur decision when compared to treatment of Trump: “You can’t have two different laws for similar acts. You have to have one single standard of justice.”… Hur found that the materials Biden secreted from the White House were highly sensitive, and included “marked classified documents about military and foreign policy in Afghanistan and notebooks containing Mr. Biden’s handwritten entries about issues of national security and foreign policy implicating sensitive intelligence source and methods.”…https://justthenews.com/government/white-house/fribiden-classified-memos-report-re-ignites-debates-about-dual-justice The Daily Mail claims Biden kept top secret documents to cast himself as an ‘historical’ figure’ that fought against Obama’s troop placements in Afghanistan. How Biden’s secret notebooks cast him ‘as a historic figure’ who fought generals over Obama’s 30,000 troop surge in Afghanistan and reveal VP considered RESIGNING in protest – before forgetting key details about it – Biden resisted troop surge, fearing drifting into ‘another Vietnam’https://www.dailymail.co.uk/news/article-13066455/ @EndWokeness: Barack Obama on his desire for a 3rd term: “If I can make an arrangement where I had a stand-in or frontman with an earpiece in… I would be fine with that.”https://twitter.com/EndWokeness/status/1755993367870111868 Trump on Saturday: “I think Barack Obama has a lot to do with running the country right now and we can’t let that happen.” https://twitter.com/bennyjohnson/status/1756409781625946376 “The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.” – George Orwell in “1984” White House frustration with Garland growsJoe Biden has told aides and outside advisers that Attorney General Merrick Garland did not do enough to rein in a special counsel report stating that the president had diminished mental faculties… most of the president’s senior advisers do not believe that the attorney general would remain in his post for a possible second term, according to the two people… In recent weeks, President Biden has grumbled to aides and advisers that had Garland moved sooner in his investigation into former President Donald Trump’s election interference, a trial may already be underway or even have concluded…https://www.politico.com/news/2024/02/09/white-house-frustration-with-garland-grows-00140813?s=02 @ByronYork: The president complaining that the attorney general did not put the president’s main opponent on trial sooner is probably not the way things should work. @WallStreetSilv: Biden, Who Routinely Smears Political Opponents, Claims “We’ve Gotta Move Past This Toxic Politics. Biden has been one of the most racist and toxic politicians in the past 40 years.https://twitter.com/WallStreetSilv/status/1756812949035856146 @lawrencegandrea: Wisconsin Rep. Mike Gallagher, chairman of the Select Committee on China, will not seek reelection this November. He tells me he will leave Congress but plans to continue work on defense policy… (Gallagher was one of the 3 GOP House members that voted ‘no’ on impeaching Mayorkas) Trump ally mulls primary against Republican who opposed Mayorkas impeachmentTrump-aligned GOP consultant Alex Bruesewitz is weighing a primary bid against Rep. Mike Gallagher (R-Wis.) over his decision to vote against impeaching Homeland Security Secretary Alejandro Mayorkas, a person close to Bruesewitz first shared with The Hill…https://thehill.com/homenews/campaign/4454384-trump-ally-mulls-primary-against-republican-who-opposed-mayorkas-impeachment/
@charliekirk11: A new study by The Heartland Institute finds that mail-in ballot fraud significantly impacted the results of the 2020 election and that Trump would have “almost certainly won” without the massive, often illegal expansion of mail-in voting.https://heartland.org/wp-content/uploads/2024/02/Feb-24-2020-Election-Analysis-vWeb_Final.pdf U.S. Counterterrorism Operator (Jade Parker) Vanishes after Claiming to Identify Jan. 6 Pipe Bomber https://headlineusa.com/exclu

GREG HUNTER INTERVIEWING DANE WIGGINTON

http://www.usawatchdog.com/nobody-gets-out-alive-from-climate-engineering-disaster-dane-wigington

Nobody Gets Out Alive from Climate Engineering Disaster – Dane Wigington

By Greg Hunter On February 10, 2024 In Market Analysis37 Comments

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

Climate engineering researcher Dane Wigington says huge lies are being told daily to cover up the speed in which the climate is imploding on a global scale. Sure, there have been all sorts of ways harm has been done to the environment, but Wigington contends the biggest single cause of damage being done to the planet right now is man-made climate engineering being sprayed from the skies. Wigington explains, “The bottom line is we are fighting for our lives right here and right now. The current paradigm is over. It’s in the death throws. The oceans are dying. The insects are dying. Plankton is dying. Our atmosphere is changing radically. Nothing can adapt to changes at this speed. Again, we are talking about toxic elements that should never be in our atmosphere. . . . We know there are patented processes for chemical ice nucleation. They have openly announced they are doing this. . . . If you bring this up, they spit out the conspiracy mantra from the fact-less and the fearful, and they don’t do any investigation whatsoever. Since when do we have winter storms coming out of the record warm Gulf of Mexico? We had water temperatures in Florida of 101 degrees. That is the same temperature range that Jacuzzi recommends for their hot tubs. It killed everything — everything.”

Wigington says people need the truth, and they need to wake up because time is running out for the world you grew up in. Wigington says, “We have layer of layer upon layer of total insanity by a military industrial complex that is completely out of control. . . . If we remain on this course, none of us will be here much longer. I don’t care who rolls their eyes, walks away and tells themselves they don’t believe it. Unfolding events will tell you otherwise. . . . Refusing to acknowledge climate engineering being the single most damaging human activity in this moment in time. . . . How can these environmental groups ignore this massive destructive part of the equation? It’s because they want to protect their 501(c)(3) non-profit. GeoEngineeringWatch.org thinks that is criminal hypocrisy. . . .On the current course, nobody gets out alive, and that includes those who think they are going to go underground and ride this out. . . .We have caused a certain amount of planetary heating, and climate engineering is making that worse. . . . We have triggered this feedback loop and triggered these massive methane explosions. It covers the planet and traps heat like a layer of glass. That heat causes more methane releases and causes more heating. That is a feedback loop, and we have about 50 of those kinds of feedback loops occurring.”

Wigington asks, “What does it take to wake people up and show them we are fighting for our lives? . . . . We have AccuWeather and Weather Channel, and if it was not so tragic and terrible, it would be comical to watch the Weather Channel climate engineering cover-up actors try to explain away why it is snowing in 40 degrees on the ground and it is 50 or 60 degrees up in the sky. Their job seems to be, at this point, to cover the tracks of the climate engineers. This is ludicrous.

In closing, Wigington does hold out some hope, but it is going to take the public waking up. Wigington says, “In the (GeoEngineeringWatch.org) movie “The Dimming,” I always try to make this point, and that is anyone of us could be the final grain of sand that can trigger the landslide of awakening. . . . That means if we learn to fight effectively and efficiently, and that does not mean pointing to the sky and ranting, but passing on credible data. That can be done for free from your own home computer. Share links to “The Dimming” (a free film which already has more than 6.2 million views). Send that link out to Congressmen and anyone because you are planting a seed that will be forced to grow. I want to stress that, it will be forced to grow. So, we are not powerless, and those controlling things are not gods. We can make a difference. We absolutely can make a difference.”

There is much more in the 51-minute interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with climate researcher Dane Wigington, founder of GeoEngineeringWatch.org, with an update on the calamity geoengineering is causing for 2.10.24.

(Tech Note: If you do not see the video, know it is there. Unplug your modem and plug it back in after 30 sec. This will clear codes that may be blocking you from seeing it. In addition, try different browsers. Also, turn off all ad blockers if you have them. Finally, clear your Cashe and that might help too. https://its.uiowa.edu/support/article/719 All the above is a way Big Tech tries to censor people like USAWatchdog.com.)

After the Interview:

There is vast and totally free information on GeoEngineeringWatch.org.

To see the free film called “The Dimming,” click here.

Click here to donate to GeoEngineeringWatch.org.

SEE YOU ON TUESDAY