GOLD PRICE CLOSED UP $8.60 TO $2012.30

SILVER PRICE UP $.53 TO $23.43

Gold ACCESS CLOSED 2013.00

Silver ACCESS CLOSED: 23.41

this week was China’s golden week. The crooks like to raid during this week. They tried and failed

Bitcoin morning price:, 52,290 UP 487 DOLLARS

Bitcoin: afternoon price: $51,803 UP 6 dollars

Platinum price closing $906.95 UP $14.55

Palladium price; $951.20 UP $11.20

END

SHANGHAI GOLD PREMIUM 73 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 16 Feb 2024 02:40:22 PM CT.

Market data is delayed by at least 10 minutes.

MONTH	LAST	CHANGE	PRIOR SETTLE	OPEN	HIGH	LOW	UPDATED
FEB 2024 SGUG4	–	–	2075.2	–	–	–	12:30:20 CT 16 Feb 2024
MAR 2024 SGUH4	–	–	2085.7	–	–	–	12:30:20 CT 16 Feb 2024
APR 2024 SGUJ4	–	–	2085.6	–	–	–	12:30:20 CT 16 Feb 2024
MAY 2024 SGUK4	–	–	0.0	–	–	–	10:50:01 CT 16 Feb 2024
JUN 2024 SGUM4	–	–	2097.2	–	–	–	12:30:20 CT 16 Feb 2024
AUG 2024 SGUQ4	–	–	2097.8	–	–	–	12:30:20 CT 16 Feb 2024
OCT 2024 SGUV4	–	–	2098.4	–	–	–	12:30:20 CT 16 Feb 2024
DEC 2024 SGUZ4	–	–	2099.0	–	–	–	12:30:20 CT 16 Feb 2024
FEB 2025 SGUG5	–	–	0.0	–	–	–	10:50:01 CT 16 Feb 2024

About this Report

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

4: 15 PM ACCESS

*CANADIAN GOLD: $2,715.15 UP 15.90 CDN dollars per oz( * NEW ALL TIME HIGH 2,795.90 CDN DOLLARS PER OZ//DEC 1 2023)

*BRITISH GOLD: 1597.15 UP 7.00 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17 BRITISH POUNDS/OZ) OCT 2/2023

*EURO GOLD: 1867.70 UP 7.20 euros per oz //* (ALL TIME CLOSING HIGH: 1903.75 EUROS PER OZ//DEC 1.2023)

DONATE

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: FEBRUARY 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,002.100000000 USD
INTENT DATE: 02/15/2024 DELIVERY DATE: 02/20/2024
FIRM ORG FIRM NAME ISSUED STOPPED

363 H WELLS FARGO SEC 45
435 H SCOTIA CAPITAL 116
657 C MORGAN STANLEY 10
661 C JP MORGAN 77
737 C ADVANTAGE 48 1
880 H CITIGROUP 21
991 H CME 120

TOTAL: 219 219
MONTH TO DATE: 18,617

JPMorgan stopped 77/219 contracts.

FOR FEB.:

GOLD: NUMBER OF NOTICES FILED FOR FEB/2024. CONTRACT: 219 NOTICES FOR 21,900 OZ or 0,6811 TNNES

total notices so far: 18,617 contracts for 1,861,700 Oz (57.906 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

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

END

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

GLD

WITH GOLD UP $8.60//

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A HUGE WITHDRAWAL OF 1.73 TONNES

INVENTORY RESTS AT 837.393 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER UP 53 CENTS AT THE SLV//

HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 1.235 MILLION OZ INTO THE SLV/

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 438.393 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A GIGANTIC SIZED 1106 CONTRACTS TO 150,643 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS FAIR SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR GAIN OF $0.56 IN SILVER PRICING AT THE COMEX ON THURSDAY. WE HAD ZERO LONG LIQUIDATION AT THE COMEX SESSION BUT CONSIDERABLE SHORT COVERING AS THE PRICE OF SILVER ROSE APPRECIABLY//NO OTHER PLAUSIBLE EXPLANATION. WE HAD A HUMONGOUS 667 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 THURSDAY NIGHT: 667 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.

WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.56), AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A GIGANTIC SIZED LOSS OF 981 CONTRACTS ON OUR TWO EXCHANGES BUT WITH A MUCH HIGHER PRICE. THE SHORTS EXITED THEIR SHORTFALL AS FAST AS THEY COULD.

WE MUST HAVE HAD:

A VERY SMALL SIZED 125 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 0 OZ QUEUE JUMP //NEW TOTAL REMAINS THE SAME AT ; 6.98 MILLION OZ

//NEW STANDING FOR SILVER IS THUS 6.98 MILLION OZ

/ HUGE SIZED COMEX OI LOSS/SMALL SIZED EFP ISSUANCE/ VI) HUMONGOUS SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 667 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED 761 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 12 days, total 6125 contracts: OR 30.625 MILLION OZ (510 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 30.625 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 : 30.625 MILLION OZ.

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1106 CONTRACTS DESPITE OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//THURSDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL EFP ISSUANCE CONTRACTS: 125 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 0 OZ QUEUE JUMP //NEW TOTAL REMAINS THE SAME AT 6.98 MILLION OZ

NEW STANDING 6.98 MILLION OZ /// WE HAVE A HUGE LOSS OF 981 OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUMONGOUS SIZED 667 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS (DRAMATIC PRICE OF SILVER RISE) . THE NEW TAS ISSUANCE THURSDAY NIGHT (667) 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 STRONG SIZED 6716 CONTRACTS TO 412,454 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT CLOSER TO OUR ALL TIME LOW OF 390,000 CONTRACTS.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: – REMOVED 50 CONTRACTS

WE HAD A STRONG SIZED DECREASE IN COMEX OI ( 6716 CONTRACTS) DESPITE OUR $11.70 GAIN IN PRICE//THURSDAY. 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 200 OZ E.F.P. JUMP //NEW TOTAL OF GOLD STANDING LOWERS TO: 60.087 TONNES // ALL OF THIS HAPPENED DESPITE OUR $11.70 GAIN IN PRICE WITH RESPECT TO THURSDAY’S TRADING. WE HAD A GOOD SIZED LOSS OF 4179 OI CONTRACTS (12.998) PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2539 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 412,454

IN ESSENCE WE HAVE A GOOD SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 4179 CONTRACTS WITH 6716 CONTRACTS DECREASED AT THE COMEX// AND A FAIR SIZED 2,539 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 4127 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A STRONG SIZED 3485 CONTRACTS.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2539 CONTRACTS) ACCOMPANYING THE STRONG SIZED LOSS IN COMEX OI (6716) //TOTAL LOSS FOR OUR THE TWO EXCHANGES: 4127 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 200 OZ E.F.P. JUMP TO LONDON //NEW STANDING LOWERS TO 60.087 TONNES. / 3) ZERO LONG LIQUIDATION // 4) STRONG SIZED COMEX OPEN INTEREST LOSS/ 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: GOOD T.A.S. ISSUANCE: 3485 CONTRACTS//MAJOR SHORT COVERING

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: 42,283 CONTRACTS OR 4,228,300 OZ OR 131.52 TONNES IN 12 TRADING DAY(S) AND THUS AVERAGING: 3523 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 12 TRADING DAY(S) IN TONNES 131.52 TONNES

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

THUS EFP TRANSFERS REPRESENTS 131.52/3550 x 100% TONNES 3.69% 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: 131.52 TONNES (SHOULD BE A WEAKER 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 HUMONGOUS SIZED 1106 CONTRACTS OI TO 150,643 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 6 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 125 CONTRACTS

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

MARCH 125 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 125 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 345 CONTRACTS AND ADD TO THE 125 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A SMALL LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 981 CONTRACTS

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTAL 4.905 MILLION OZ

OCCURRED DESPITE OUR $.56 GAIN IN PRICE …..

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

FRIDAY MORNING/THURSDAY NIGHT

SHANGHAI CLOSED XXX //Hang Seng CLOSED UP 329.30 PTS OR .86% /The Nikkei CLOSED UP 329,30 PTS OR 0.86% //Australia’s all ordinaries CLOSED UP 0.69% /Chinese yuan (ONSHORE) closed XXXX

//OFFSHORE CHINESE YUAN CLOSED UP TO 7.2187 /Oil UP TO 77.52 dollars per barrel for WTI and BRENT DOWN AT 82.09/ Stocks in Europe OPENED 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 STRONG SIZED 6716 CONTRACTS TO 412,506 DESPITE OUR GAIN IN PRICE OF $11.70 WITH RESPECT TO THURSDAY TRADING. WE ARE GETTING AWFULLY CLOSE TO OUR LOW OI OF 390,000 CONTRACTS

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 2539 EFP CONTRACTS WERE ISSUED: : APRIL 2539 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2539 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A GOOD SIZED TOTAL OF 4179 CONTRACTS IN THAT 2539 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A STRONG SIZED LOSS OF 6716 COMEX CONTRACTS..AND THIS LOSS ON OUR TWO EXCHANGES HAPPENED DESPITE OUR GAIN IN PRICE OF $11.70 THURSDAY 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 THURSDAY NIGHT WAS A GOOD SIZED 3485 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 (60.087 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: 60.087 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT GAINED $11.70 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A GOOD SIZED LOSS OF 4,179 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH THE MUCH HIGHER PRICE. WE HAD TO HAVE HAD A STRONG SHORT COVERING.WE HAD A STRONG T.A.S. LIQUIDATION ON THE FRONT END OF THURSDAY’S TRADING . THE T.A.S. ISSUED ON THURSDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS.

WE HAVE GAINED A TOTAL OI OF 12.998 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 200 OZ E.F.P. JUMP TO LONDON (0.00622 TONNES//NEW TOTAL STANDING 60.087: ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $11.70

WE HAD -REMOVED 50 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)

NET LOSS ON THE TWO EXCHANGES 4179 CONTRACTS OR 412,700 OZ OR 12.836 TONNES.
estimated volume today 157,166 poor

final gold volumes/yesterday 216,131 fair

//speculators have left the gold arena

FEB 16 INITIAL FEB GOLD

/ /// THE FEB 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	9547.46 oz HSBC Int Delaware incl. 17 KILOBARS .
Deposit to the Dealer* Inventory in oz*	nil oz
Deposits to the Customer* Inventory, in oz*	nil
No of oz served (contracts) today	219 notice(s) 21,900 OZ 0.6811 TONNES
No of oz to be served (notices)	147 contracts 14,700 oz /0.4572 TONNES
Total monthly oz gold served (contracts) so far this month	18,617 notices 1861700 oz 57.906 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: 1

i) Out of HSBC 546.56 of 17 kilobars

2. Out of Int. Delaware: 900.900 oz

total withdrawal: 9547.46 oz

we had 0 customer deposits

Adjustments: 1 dealer to customer

a) Out of HSBC: 494,700..489 (15.38 tonnes)

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR FEB.

For the front month of FEBRUARY we have an oi of 366 contracts having LOST 1640 contracts. We had 1638 notices filed on Thursday, so we lost 2 contracts or an additional 200 oz will not stand for delivery at the comex as these guys were ferried over to London to take delivery over there via EFP’s.

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 EFP jump of 200 o//New standing 58.363 tonnes + 1.723 tonnes = 60.086 TONNES

March gained 128 contracts to stand at 2778

APRIL lost 5469 CONTRACTS FALLING TO 326,146.

We had 219 contracts filed for today representing 21,900 oz

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 219 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 77 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 (18,617 x 100 oz ), to which we add the difference between the open interest for the front month of FEB. (366 CONTRACTS) minus the number of notices served upon today 219 x 100 oz per contract equals 1,876,400 OZ OR 58.363 TONNES + 1.723 Ex for Risk/prior = 60.087 tonnes

thus the INITIAL standings for gold for the FEB. contract month: No of notices filed so far (18,617) x 100 oz + (366) {OI for the front month} minus the number of notices served upon today (219) x 100 oz which equals 1,876,400 oz (58.37 TONNES) + 54,400 oz (1.723 TONNES) ex. for risk/prior// NEW total standing OR 60.087 TONNES

TOTAL COMEX GOLD STANDING FOR FEB: 60.093 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: 1,401,068.091 43.579 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 18,460,807.209 OZ

TOTAL REGISTERED GOLD 8,134,531.537 (253.00 tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 10,326,275.672 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 6,733,463 oz (REG GOLD- PLEDGED GOLD) 209.43 tonnes

END

SILVER/COMEX

FEB 16/INITIAL

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

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	600,198.830oz CNT .
Deposits to the Dealer* Inventory*	nil OZ
Deposits to the Customer Inventory	579,727.69 oz hsbc manfra
No of oz served today (contracts)	0 CONTRACT(S) (nil OZ)
No of oz to be served (notices)	241 contracts (1,205,000 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 2 deposits customer account:

i) Into HSBC: 1070.598 oz

ii) Into Manfra 578,687.100 oz

total customer deposits 579,727.69 oz

JPMorgan has a total silver weight: 129.806 million oz/278.193 million or 46.76%

adjustment: 0

Comex withdrawals: 1

Out of CNT 600,198.88 oz

total withdrawal: 600,198.88 oz

TOTAL REGISTERED SILVER: 42.868 MILLION OZ//.TOTAL REG + ELIGIBLE. 278.193 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:

silver open interest data:

FRONT MONTH OF FEB. /2023 OI: 241 CONTRACTS HAVING GAINED 0 CONTRACT(S). WE HAD 0 NOTICES FILED ON WEDNESDAY SO WE GAINED 0 CONTRACTS OR AN ADDITIONAL NIL OZ OF SILVER CONTRACTS WILL STAND FOR DELIVERY AT THE COMEX

MARCH LOST 5179 CONTRACTS TO 68,172

APRIL SAW A GAIN OF 7 CONTRACT TO STAND AT 54

MAY SAW A GAIN OF 3741 CONTRACTS UP TO 62,838

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

Comex volumes// est. volume today 84,289 huge

Comex volume: confirmed yesterday 115,203 huge//

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. (241) 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. (241) – number of notices served upon today (0 )x 500 oz of silver standing for the FEB contract month equates to 6.5350 MILLION OZ. + .445 MILLION OZ EX. FOR RISK PRIOR//NEW TOTAL 6.9700 MILLION OZ

New total standing: 6.9800 million oz.

There are 42.868 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!

FEB16/WITH GOLD UP $8,60 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.73 TONNES OF GOLD FROM THE GLD///INVENTORY RESTS AT 837.31 TONNES

FEB15/WITH GOLD UP $11.70 TODAY NO CHANGES IN GOLD INVENTORY AT THE GLD:/INVENTORY RESTS AT 841.92 TONNES

FEB14/WITH GOLD DOWN $2.75 TODAY NO CHANGES IN GOLD INVENTORY AT THE GLD:/INVENTORY RESTS AT 841.92 TONNES

FEB13/WITH GOLD DOWN $20.15 TODAY NO CHANGES IN GOLD INVENTORY AT THE GLD:/INVENTORY RESTS AT 841.92 TONNES

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

GLD INVENTORY: 841.92 TONNES

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

FEB 16/WITH SILVER UP 53 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 1.235 MILLION OZ OF SILVER FROM THE SLV// : SLV INVENTORY RESTS AT 438.393 MILLION OZ

FEB 15/WITH SILVER UP 56 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV : SLV INVENTORY RESTS AT 437.615 MILLION OZ

FEB 14/WITH SILVER UP 24 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV : SLV INVENTORY RESTS AT 437.615 MILLION OZ

FEB 13/WITH SILVER DOWN 60 CENTS TODAY SMALL CHANGES IN SILVER INVENTORY AT THE SLV A SMALL WITHDRAWAL OF 0.504 MILLION OZ OZ OUT OF THE SLV: SLV INVENTORY RESTS AT 437.615 MILLION OZ

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

CLOSING INVENTORY 438.393 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

The Gold/Silver Ratio Says Silver’s Still Cheap

FRIDAY, FEB 16, 2024 – 07:20 AM

Via SchiffGold.com,

The silver price has dipped since December, from almost $26 per ounce to around $22 today. We reported on silver being a relative bargain at the time, and with lower spot prices and an even higher gold/silver ratio today, gold’s monetary sibling is looking like an even more attractive buy than it was late last year.

The gold/silver ratio refers to how many ounces of silver would buy a single ounce of gold, and at one point, the number was fixed by law. A lot has changed since then, with gold no longer backing the US dollar, and a whole array of precious metals-linked financial products like futures and ETFs adding to the complexity of the market.

Without a legally imposed gold/silver ratio or dollar peg, the number is now free to fluctuate and can be a valuable tool when considering if it’s a good time to buy. Gold has been on a tear lately, hovering not far from its all-time high last December when it topped at over $2,100 per ounce. The price of silver often follows suit.

A high gold/silver ratio signals that silver is being potentially undervalued, and in December the number was 81-1, far above the modern average between 40-1 to 60-1. Since then, it has ratcheted up another 5-10 points, currently above 1-90.

The last time the ratio was higher than it is now was in August 2022, when it hovered around 95 ounces of silver for one ounce of gold. From then until April the following year, the price of silver worked its way up from around $20 an ounce up to a high of $25 before retracing again. It will be interesting to see if the ratio touches these levels again (or beyond) — and if we see a similar bull market for silver in the next 6-8 months. The following chart shows the gold/silver ratio since April 2022:

In the context of bargain-price silver, the best bet is still using it as a companion to gold as a long-term inflation hedge rather than cashing out on short or medium-term trades. Even perfectly-timed buys and sells are subject to capital gains taxes and other mark-up. If you zoom out, industrial demand for silver is expected to skyrocket in the next decade, and history has proven that silver will always be a better form of money than fiat.

The long-term fundamentals are as solid as ever, while the high gold/silver ratio is a bullish sign for silver on a shorter time scale especially when the Fed finally decides to cut rates later in the year. As noted in The Silver Institute’s January report:

“…the Fed is expected to signal further and accelerated easing next year. The impact of falling real yields and pressure on the U.S. dollar should also favor fresh silver and gold investment.”

So, with the Fed expected to fire up its money printers again soon, cutting rates and funding expanding global conflicts with new debt, silver traders would be better off accumulating bullion to beat inflation over the long-term instead of gunning for short-term taxable returns by trading in and out of a rapidly-depreciating currency.

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

END

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

4. OTHER GOLD COMMENTARIES/PODCASTS

AGNICO EAGLE RESULTS//EARNINGS OF 57 CENTS USA AND BETTER BY 8 CENTS ACCORDING TO ANALYSTS. MOST IMPORTANT RESERVES INCREASED BY 10.5% TO 53.8 MILLION OZ

NO DOUBT, THE BEST MINING COMPANY IN THE WORLD.

THEY REFUSE TO HELP US BUT THEY ARE THE BEST AT WHAT THEY DO:

AGNICO EAGLE REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS – RECORD QUARTERLY AND ANNUAL GOLD PRODUCTION AND FREE CASH FLOW; RECORD MINERAL RESERVES INCREASED 10.5%; UPDATED THREE-YEAR GUIDANCE

February 15, 2024

Download this Press ReleasePDF Format (opens in new window)

(All amounts expressed in U.S. dollars unless otherwise noted)

Stock Symbol: AEM (NYSE and TSX)

TORONTO, Feb. 15, 2024 /CNW/ – Agnico Eagle Mines Limited (NYSE:AEM) (TSX:AEM) (“Agnico Eagle” or the “Company”) today reported financial and operating results for the fourth quarter and full year of 2023, as well as future operating guidance.

“We had a very strong close to 2023, with our fourth quarter results driving a record year in terms of safety, operating and financial performance. We achieved the top end of our gold production guidance range and the mid-point of our cost guidance ranges despite inflationary pressures throughout the year,” said Ammar Al-Joundi, Agnico Eagle’s President and Chief Executive Officer. “We are extremely pleased with the results that our teams have accomplished with their hard work this year and we have much to look forward to. We are reporting record mineral reserves and a stable production profile at industry leading costs, anchored by the two largest gold operations in Canada, the Detour Lake mine and the Canadian Malartic complex. We continue to advance studies on optimizing our Abitibi platform and we expect to provide additional updates in the first half of 2024. Our track record of executing and delivering results demonstrates the strength of our business and we are well positioned to create long-term value and generate strong returns,” added Mr. Al-Joundi.

Fourth quarter and full year 2023 highlights:

Record quarterly gold production – Payable gold production¹ in the fourth quarter of 2023 was 903,208 ounces at production costs per ounce of $861, total cash costs per ounce² of $888 and all-in sustaining costs (“AISC”) per ounce³ of $1,227. Gold production in the fourth quarter of 2023 was led by strong production at the Detour Lake mine, the LaRonde complex and the Macassa mine, offsetting lower production at the Fosterville mine
Record quarterly cash provided by operating activities and free cash flow – The Company reported a quarterly net loss of $381.0 million or $0.77 per share and adjusted net income⁴ of $282.3 million or $0.57 per share for the fourth quarter of 2023. Included in the quarterly net loss are impairment charges totaling $667 million (net of tax) or $1.35 per share relating to the Macassa and Pinos Altos mines. Cash provided by operating activities was $1.47 per share ($1.57 per share before working capital adjustments⁵) and free cash flow⁵ was $0.61 per share ($0.71 per share before working capital adjustments⁵)
Record annual safety performance, annual gold production and free cash flow driven by solid operational performance – Payable gold production in 2023 was 3,439,654 ounces at production costs per ounce of $853, total cash costs per ounce of $865 and AISC per ounce of $1,179. Production for 2023 was at the very top end of the Company’s 2023 guidance range of 3.24 million ounces to 3.44 million ounces. Total cash costs per ounce were at the midpoint of the Company’s 2023 guidance and AISC per ounce were in the range of the Company’s 2023 guidance. Free cash flow for the full year 2023 was $947.4 million ($1,093.8 million before changes in non-cash components of working capital)
Record gold mineral reserves driven by declaration of initial mineral reserves at East Gouldie – Year-end 2023 gold mineral reserves increased by 10.5% to 53.8 million ounces of gold (1,287 million tonnes grading 1.30 grams per tonne (“g/t”) gold). The year-over-year increase in mineral reserves is largely due to the declaration of initial mineral reserves at East Gouldie, the acquisition of the remaining 50% interest in the Canadian Malartic complex and net mineral reserve additions at Macassa. At year-end 2023, measured and indicated mineral resources were 44.0 million ounces (1,189 million tonnes grading 1.15 g/t gold) and inferred mineral resources were 33.1 million ounces (411 million tonnes grading 2.50 g/t gold), including initial underground inferred mineral resources at Detour Lake. For further details, see the Company’s exploration news release dated February 15, 2024
Stable three-year production outlook – Payable gold production is forecast to be approximately 3.35 to 3.55 million ounces in 2024 and approximately 3.40 to 3.60 million ounces in 2025 (unchanged from prior three-year guidance issued on February 16, 2023 (“Previous Guidance”)). Payable gold production is forecast to remain stable in 2026 at an expected range of approximately 3.40 to 3.60 million ounces
Unit costs reflect easing rate of inflation – Total cash costs per ounce and AISC per ounce in 2024 are forecast to be $875 to $925 and $1,200 to $1,250, respectively. The midpoints of these ranges each represent an approximate 4% increase when compared to the full year 2023 total cash costs per ounce of $865 and AISC per ounce of $1,179. The expected cost increases in 2024 are mostly related to labour, spare parts and maintenance
Capital expenditures forecast to be approximately $1.65 billion in 2024 – Capital expenditures in 2024 (excluding capitalized exploration) are expected to increase relative to Previous Guidance of $1.40 to 1.60 billion. The expected increase in 2024 is mostly attributable to 100% ownership of Canadian Malartic for the full year, inflation and additional capital expenditures at Detour Lake
Strategic optimization initiatives improve Canadian production base, with further clarity on the medium term potential to be provided through 2024 – Key developments in 2023 included the declaration of commercial production at Canadian Malartic’s Odyssey South deposit, a 12% increase in mill throughput at Detour Lake year-over-year and development of the Near Surface (“NSUR”) and Amalgamated Kirkland (“AK”) deposits at Macassa. The Company expects to provide updates on additional opportunities that are being evaluated in the Abitibi region in the first half of 2024
- Odyssey mine at the Canadian Malartic complex – The planned mining rate of 3,500 tonnes per day (“tpd”) at Odyssey South was reached earlier than anticipated and sustained through the fourth quarter of 2023. Ramp development has also exceeded target, reaching a depth of 715 metres as at December 31, 2023. The Company is evaluating the potential to accelerate initial production from East Gouldie to 2026 from 2027. Surface construction is progressing as planned, with approximately 65% completed at year-end, and shaft sinking activities continued to ramp up through the quarter. Infill and expansion drilling in 2023 resulted in the declaration of an initial mineral reserve in the central portion of the East Gouldie deposit of 5.17 million ounces of gold (47.0 million tonnes grading 3.42 g/t gold) and the extension of the East Gouldie mineral resource laterally by 870 metres
- Detour Lake – The mill delivered a strong performance in the fourth quarter of 2023, operating at a throughput rate of 71,826 tpd (equivalent to an annualized rate of approximately 26.2 million tonnes per annum (“Mtpa”). With sustained improvements year-over-year, the Company now expects the mill to reach a throughput rate of approximately 76,700 tpd (equivalent to an annualized rate of approximately 28 Mtpa) late in the second half of 2024, previously expected in 2025. At year-end 2023, the Company reported an initial underground inferred mineral resource below and to the west of the existing pit, totaling 1.56 million ounces of gold (21.8 million tonnes grading 2.23 g/t gold) and continues to evaluate the potential for underground mining. Exploration in 2024 is expected to continue to test the west plunge extension of the main deposit. An exploration ramp is also being considered to facilitate drilling that would increase confidence in the continuity of the inferred mineral resource and, potentially, to collect a bulk sample. The Company expects to provide an update on mill optimization efforts, the Detour underground project and ongoing exploration results in the first half of 2024
- Abitibi region of Quebec and Ontario – Macassa’s NSUR and AK deposits have now been incorporated in the Company’s production guidance. At Upper Beaver, the Company is conducting a trade-off analysis comparing transporting and processing ore at the LaRonde mill to a standalone central mill for Upper Beaver and satellite deposits. An exploration ramp and shaft are being considered at Upper Beaver in order to upgrade and further explore the deeper portions of the deposit. At Wasamac, the Company is assessing hauling alternatives and the optimal mining rate for transporting and processing ore at the Canadian Malartic mill. The Company expects to complete internal technical evaluations for Upper Beaver and Wasamac in the first half of 2024
- Amaruq mine at the Meadowbank complex – The Company extended Amaruq’s mine life to 2028 (previous mine life was to 2026), adding approximately 500,000 ounces of gold to the expected mining profile, as a result of continuous improvement and cost optimization efforts, positive infill drilling and positive reconciliation to the geological model
- Hope Bay – At the Madrid deposit, the target area in the gap between the Suluk and Patch 7 zones delivered strong drill results in the quarter, including 16.3 g/t gold over 28.6 metres at 385 metres depth and 12.7 g/t gold over 4.6 metres at 677 metres depth. Results confirm the potential to expand gold mineralization in the Madrid deposit at depth and along strike to the south. Based on recent exploration success, the Company is evaluating a larger potential production scenario for Hope Bay. The Company expects to report results from this internal technical evaluation in 2025
A quarterly dividend of $0.40 per share has been declared

END

live from the vault; 160

5 a. IMPORTANT COMMENTARIES ON COMMODITIES /CORN

Corn Drops To 3-Year Low As Supplies Expected To Surge To 1987 Levels

FRIDAY, FEB 16, 2024 – 05:45 AM

Corn futures hit a three-year low as traders waited for the US Department of Agriculture’s annual outlook forum on Thursday. The USDA’s initial outlook for the coming season could show higher domestic crop supplies and elevated spring plantings.

According to Bloomberg, USDA’s annual outlook forum is expected to project the largest domestic stockpile since 1987.

Traders have already been pricing in a dismal outlook, with money managers holding the largest bearish bet in almost five years. Corn for March delivery has nearly roundtripped all Covid gains.

A survey of Bloomberg analysts expected the upcoming 2024-25 season will reach upwards of 2.493 billion bushels. This will exert continued downward pressure on US farmers and force them to decrease spring plantings of corn in favor of planting more soybeans.

Meanwhile, in a separate USDA report, new forecasts show US farmers are poised for another year of financial misery, facing the most significant decline in incomes in almost two decades as grain prices slide and US dominance in ag exports wanes.

USDA forecasts net farm income, a broad measure of profits, to plunge $39.8 billion, or 25.5%, to $116.1 billion in 2024. This follows a forecasted decrease of $29.7 billion, or 16%, from 2022 to $155.9 billion in 2023.

If the estimate holds, farmers face the largest income drop since 2006 and back-to-back years of financial pain.

“With this expected decline, net farm income in 2024 would be 1.7 percent below its 20-year average (2003–22) of $118.2 billion and 40.9 percent below the record high in 2022 in inflation-adjusted dollars,” USDA wrote in the report.

What could reverse sliding grain prices? More Black Sea destabilization…

END

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

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

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

ONSHORE YUAN: CLOSED

OFFSHORE YUAN: UP TO 7.2187

SHANGHAI CLOSED

HANG SENG CLOSED UP 395.33 PTS OR 2.48%

2. Nikkei closed UP 329..30 OR 0.86%

3. Europe stocks SO FAR: ALL GREEN

USA dollar INDEX UP TO 104.22 EURO RISES TO 1.0771 DOWN 2 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.720 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 150.22/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: UP

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund UP TO +2.3975***/Italian 10 Yr bond yield UP to 3.87340* /SPAIN 10 YR BOND YIELD UP TO 3.292…**

3i Greek 10 year bond yield UP TO 3.353

3j Gold at $2006.40 silver at: 22.97 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 58 /100 roubles/dollar; ROUBLE AT 92.75//

3m oil into the 77 dollar handle for WTI and 82 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 150.22// 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 0.8868 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9489 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: 4.274 UP 4 BASIS PTS…

USA 30 YR BOND YIELD: 4.436 UP 2 BASIS PTS/

USA 2 YR BOND YIELD: 4.608 UP 5 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 30.83…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: UP 8 BASIS PTS AT 4.1385

end

2.a Overnight: Newsquawk and Zero hedge

Stocks Set To Make It A Record 15 Weeks Higher Out Of 16 As Tech Surge Goes On

FRIDAY, FEB 16, 2024 – 08:13 AM

After stocks successfully recovered from a mid-week rout following the much hotter than expected CPI print, resulting in a burst of BTFD and flurry of 0DTE buying, on the last day of the week, S&P 500 futures were up 0.2% – amid bigger gains in European stocks …

… and were on pace to dodge a weekly red candle in the process setting up a record 15th weekly gain of the past 16, as the market no longer drop. Ever. Meanwhile, the euphoria was even more ridiculous over in tech world where Nasdaq futures accelerated their silly meltup, rising 0.5%, propelled by Applied Materials rising ~13% in premarket trading while the current generation’s Gamestop, Supermicro, was up another 6% premarket, sending its RSI to a record 98.

Treasuries declined, sending the 10Y yield up 3bps to 4.27% after Atlanta Fed President Raphael Bostic said there’s no rush to cut rates with the US labor market and economy still strong.

In premarket trading, Applied Materials, the largest US maker of chipmaking machinery, jumped 13% in premarket trading after giving a bullish revenue forecast that signalled some of the largest semiconductor companies are increasing their investments in new production. The update pushed up shares in European peers including Aixtron SE and ASML Holding NV. Here are some other notable premarket movers:

Bloom Energy falls 19% after the company’s 2024 revenue guidance missed the average analyst estimate.
Coinbase gains 15% after the cryptocurrency exchange reported revenue and earnings per share for the fourth quarter that beat.
DoorDash drops 7% after the company’s guidance for full-year marketplace gross order value trailed the average analyst estimate at the midpoint.
DraftKings slips 5% after company’s 4Q adjusted Ebitda missed estimates, with Morgan Stanley flagging headwinds from “unfavorable sports outcomes.”
Dropbox drops 13% after the file management software company reported fourth-quarter results that are seen as weak.
Roku falls 16% after first-quarter forecasts from the streaming-video platform company failed to impress.
SunPower tumbles 11% after the struggling rooftop solar installer announced $155 million in new financing from its majority investors — a development that will ease a cash crunch but also dilute the shares.
Toast rises 9% after the restaurant software company gave a full-year forecast for adjusted Ebitda that was stronger than expected.
Trade Desk gains 18% after the advertising technology company gave a first-quarter forecast that is much stronger than expected.
TreeHouse Foods falls 11% after the company issued net sales projections for year that trailed the average analyst estimates.
Yelp drops 9% after guiding for lower-than-expected adjusted Ebitda for 2024.

The S&P 500 climbed to its latest record high Thursday, erasing all this week’s losses, as a drop in US retail sales tempered investor worries about overheated consumer demand. Data on US producer prices later will draw higher-than-usual scrutiny after a hot consumer price index earlier this week roiled financial markets, with traders resetting their bets on Fed rate-cuts in 2024.

Meanwhile the latest bubble euphoria just won’t stop, as US equity funds registered inflows of $11 billion in the week through Feb. 14, the most in seven weeks, according to Bank of America. On the downside, breadth of the S&P 500 is currently the weakest since 2009 as the top five stocks in the index have fueled 75% of its gain so far this year, according to the Bank of America report.

“Q4 earnings have helped equities to cope with rates volatility,” said Emmanuel Cau, a strategist at Barclays Plc, in a note to clients. “Sticky US inflation keeps Goldilocks in check, but post the latest hawkish repricing, rates expectations have converged more toward the Fed forecasts.”

European stocks rise for a third day meanwhile, tracking a broadly positive session in Asia. Mining stocks led the advance in Europe that took Europe’s Stoxx 600 index to its fourth consecutive week of gains. Glencore Plc and Anglo American Plc both rose more than 3% amid optimism of a rebound in Chinese demand for metals. European commercial real estate stocks also gained after major US peer CBRE Group reported strong fourth-quarter earnings and suggested the worst was over for the downtrodden market for office leasing. Shares of CBRE, the world’s largest commercial real estate stock, jumped to the highest level in almost two years. Here are the most notable movers in Europe:

European chip-tool makers’ shares advance after their largest US peer, Applied Materials, gave a bullish revenue forecast for the current period, signaling that some of the biggest semiconductor companies are increasing their investments in new production.
European luxury stocks climb in early trading, boosted by a resurgence in Chinese travel over the Lunar New Year holiday.
Sika shares gain as much as 3.9% after the Swiss building materials group presented new guidance which reassured analysts amid weak macroeconomic trends.
NatWest shares turn higher in volatile trading Friday, rising after an initial drop following earnings. The bank downgraded its return on tangible equity target due to an expected peak in yields, but RBC says it may be trying to get bad news out of the way early.
Metso shares rise as much as 8.5%, hitting highest in almost five months, after the Finnish machinery producer said activity in Aggregates is expected to improve. Analysts see the results as positive overall, with scope for some small consensus upgrades.
Norwegian Air shares jump as much as 12%, to the highest price since May 2021, after giving a higher-than-expected forecast for 2024 Ebit. Pareto Securities notes that the airline’s 2024 pre-sale bookings are strong.
Dowlais Group shares rise as much as 5.7% after Barclays initiated coverage at overweight, saying the engineering specialist “ticks all the right boxes” when it comes to what investors are looking for in 2024.
Eni shares drop as much as 1.9% following fourth-quarter results that met expectations, with RBC saying some investors may find it disappointing that one-off income in its gas business made up for weakness elsewhere.
Nibe shares fall as much as 8.7%, the most since August, after the Swedish heat-pump maker’s 2024 outlook disappointed as weakening demand for its low-energy heating impact its order intake.
Umicore shares fall as much as 5.8% to their lowest intraday in eight years. The Belgian specialty chemicals firm reported second-half results Citi called “soft,” with metal prices and lower cathode volumes weighing on earnings.
Temenos shares fall as much as 9.5% in Zurich, hitting the lowest level since Thursday’s publication of a report by activist short-seller Hindenburg Research.
XP Power shares tumble as much as 41% after warning that the outlook for 2024 will fall “significantly” short of market expectations amid a slowdown in the semiconductor manufacturing equipment industry.

Earlier in the session, Asian stocks gained as Japanese equities steamed closer to their first record high in 34 years and Hong Kong stocks extended their rally to a third day. The MSCI Asia Pacific Index climbed as much as 1%, headed for its highest close since April 2022. Japan’s Toyota, Recruit Holdings and Mitsubishi UFJ Financial contributed most to the advance. The regional gauge is on course for a fourth-straight week of gains, its longest win streak in over a year. Key measures were higher in nearly every market except Taiwan.

Hang Seng climbed back above the 16,000 level with notable gains in biopharmaceuticals and property with the latter underpinned after a court dismissed liquidation petitions against Chinese developer Logan Group.
Nikkei 225 rallied and briefly approached within 100 points of its record high before reversing some of the gains.
ASX 200 was led higher by the mining sector but with the upside capped as large insurers faltered post-earnings.
Indian stocks capped off the week rising for a fourth straight day, led by a rally in automobile and healthcare stocks. The S&P BSE Sensex rose 0.5% to 72,426.64 in Mumbai, while the NSE Nifty 50 Index advanced 0.6% to 22,040.70. Most regional equity benchmarks advanced on the day, led by gains in Hong Kong and Japan.

In FX, the pound is down 0.1% having briefly gained after UK retail sales topped estimates. The yen is the weakest of the G-10 currencies, falling 0.2% versus the greenback.

In rates, treasuries were slightly cheaper across the curve, holding losses from Asia session after Fed Atlanta President Raphael Bostic said there’s no rush to cut rates with the US labor market and economy still strong. “My expectation is that the rate of inflation will continue to decline, but more slowly than the pace implied by where the markets signal monetary policy should be,” Bostic said in a speech Thursday in New York. He said policy decisions would be taken “without oppressive urgency.”

As a result, TSY yields are cheaper by 2bp-3bp across the curve with 5s30s spread flatter by around 1bp as belly and front-end underperform; 10-year yields around 4.26%, slightly outperforming bunds and gilts in the sector. According to Bloomberg, dollar issuance slate empty so far; Intel and British American Tobacco headlined a six-deal, $6.8b calendar Thursday, bringing this week’s volume to $37b. Early expectations for next week are in the $45b to $50b range, with some acquisition-related offerings possible

In commodities, oil prices decline, with WTI down 0.9% near $77.35 though near the highest close in three months as the risk-on mood in wider markets and signs OPEC+ members are complying with supply cuts overshadowed a gloomy demand outlook from the IEA. Spot gold is flat around $2,006/oz.

Bitcoin is firmer on the session, though still holds just shy of the USD 52k mark, as bitcoin ETF inflows just won’t stop.

Turning to the day ahead, the US economic data calendar includes January PPI data, January housing starts/building permits, February New York Fed services business activity (8:30am) and February preliminary University of Michigan consumer sentiment (10am). Scheduled Fed speakers include Barkin (8am), Barr (9:10am) and Daly (12:10pm). Elsewhere we have the UK January retail sales and the Canadian International securities transactions.

Market Snapshot

S&P 500 futures up 0.2% to 5,056.25
STOXX Europe 600 up 0.6% to 491.35
MXAP up 1.0% to 170.90
MXAPJ up 1.0% to 522.12
Nikkei up 0.9% to 38,487.24
Topix up 1.3% to 2,624.73
Hang Seng Index up 2.5% to 16,339.96
Shanghai Composite up 1.3% to 2,865.90
Sensex up 0.6% to 72,466.63
Australia S&P/ASX 200 up 0.7% to 7,658.32
Kospi up 1.3% to 2,648.76
German 10Y yield little changed at 2.38%
Euro little changed at $1.0771
Brent Futures down 0.8% to $82.21/bbl
Brent Futures down 0.8% to $82.23/bbl
Gold spot up 0.1% to $2,006.25
U.S. Dollar Index little changed at 104.32

Top Overnight News

The BOJ is on track to end negative interest rates in coming months despite the economy’s fall into recession, say sources familiar with its thinking, though weak domestic demand means they may seek more clues on wages growth before acting. RTRS
China’s gov’t could dramatically expand its real estate footprint, buying up distressed projects and/or building more subsidized housing as Xi looks to put more of the industry under state control. WSJ
A resurgence in travel over China’s Lunar New Year holiday is offering some signs of a consumer spending pickup in the world’s second-largest economy as it struggles with low confidence and deflation. More than 61 million rail trips were made in the first six days of the national new year holiday, according to official reports. That was the highest in data compiled by Bloomberg News in the last five years, and it marked a 61% increase over the same vacation period in 2023. BBG
The ECB should avoid waiting too long to cut rates as it will still have flexibility over the pace and degree of policy loosening after its first move, Governing Council member Francois Villeroy de Galhau said. BBG
Federal Reserve Bank of Atlanta President Raphael Bostic said there’s no rush to cut interest rates with the US labor market and economy still strong, and cautioned it’s not yet clear that inflation is heading sustainably to the central bank’s 2% target. BBG
The space-based weapon U.S. intelligence believes Russia may be developing is more likely a nuclear-powered device to blind, jam or fry the electronics inside satellites than an explosive nuclear warhead to shoot them down, analysts said on Thursday. The intelligence came to light on Wednesday after Representative Mike Turner, Republican chair of the U.S. House of Representatives intelligence committee, issued an unusual statement warning of a “serious national security threat.” RTRS
Egyptian authorities, fearful that an Israeli military push further into southern Gaza will set off a flood of refugees, are building an 8-square-mile walled enclosure in the Sinai Desert near the border, according to Egyptian officials and security analysts. WSJ
The US House will not pass another temporary spending bill to avert a partial government shutdown when the latest deadline expires on March 1, the chamber’s No. 3 leader said Thursday. BBG
FBI informant at the center of the House GOP bribery allegations against Biden gets indicted over making false statements (the indictment claims the false statements were made due to the individual’s opposition to Biden’s candidacy). The Hill

Earnings

Applied Materials (AMAT) – Q1 2024 (USD): Adj. EPS 2.13 (exp. 1.91), Revenue 6.71bln (exp. 6.48bln). Sees Q2 Adj. EPS USD 1.79-2.15 (exp. 1.80). Sees Q2 rev. USD 6.5bln (exp. 5.92bln). CEO says there is a reacceleration in capital investment by cloud companies; memory investment levels are normalising; fab utilisation is increasing across all device types. The DRAM market is strengthening. Sees leading-edge foundry logic being stronger Y/Y in 2024 even though some important projects are delayed. Expect NAND revenues to be up Y/Y but NAND to remain less than 10% of total wafer fab equipment spending. CFO says expect the equipment market to grow as fast or faster than semiconductors over time. (Newswires) Shares +12.7% in pre-market trade
Coinbase Global Inc (COIN) – Q4 2023 (USD): EPS 1.04 (exp. -0.01), Revenue 953.8mln (exp. 826.3mln). Q1 subscription and services revenue view USD 410-480mln (exp. 367.3mln). (Newswires) Shares +10.7% in pre-market trade
DoorDash Inc (DASH) – Q4 2023 (USD): EPS -0.39 (exp. -0.16), Revenue 2.3bln (exp. 2.24bln). FY gross order value view 74-78bln (exp. 76.54bln). FY adj. EBITDA 1.5-1.9bln (exp. 1.62bln). Q1 EBITDA view 320-380mln (exp. 360.3mln). Q1 Marketplace gross order value 18.5-18.9bln (exp. 18.57bln). (DoorDash IR) Shares -7.5% in pre-market trade
DraftKings Inc (DKNG) – Q4 2023 (USD): EPS -0.10 (exp. 0.08), Net income -44.6mln (exp. profit 39.7mln), Revenue 1.23bln (exp. 1.24bln). Monthly Unique Payers 3.5mln (exp. 3.44mln). Average revenue per monthly unique payer 116 (exp. 119.79). FY24 revenue view 4.65-4.9bln (prev. 4.5-4.8bln). FY24 adj. EBITDA view 410-510mln (prev. 350-450mln). DraftKings to acquire Jackpocket for USD 750mln. (DraftKings IR) Shares -3.5% in pre-market trade
Eni (ENI IM) – Q4 (EUR): adj. PBT 3.16bln (exp. 3.39bln), adj. Net 1.6bln (exp. 1.71bln), adj. EBIT 3.76bln (prev. 4.98bln). FY24 outlook will be provided at the 14th March capital markets day. Shares -1.7% in European trade

A more detailed look at global markets courtesy of Newsquawk

APAC stocks sustained the positive momentum from Wall St where yields softened after the US data deluge. ASX 200 was led higher by the mining sector but with the upside capped as large insurers faltered post-earnings. Nikkei 225 rallied and briefly approached within 100 points of its record high before reversing some of the gains. Hang Seng climbed back above the 16,000 level with notable gains in biopharmaceuticals and property with the latter underpinned after a court dismissed liquidation petitions against Chinese developer Logan Group.

Top Asian News

BoJ Governor Ueda said when a sustained and stable achievement of the price target comes into sight, they will examine whether to maintain various easing measures including the negative interest rate. Ueda also noted the specific means of rolling back stimulus will depend on economic conditions at the time and based on the current economic and price outlook, monetary conditions will likely remain accommodative even after ending negative rates.
Japanese Finance Minister Suzuki said a weak yen has merits and demerits, while he is concerned about the negative aspects of a weak yen and reiterated that rapid FX moves are undesirable and is closely watching FX moves with a sense of urgency.
RBNZ Governor Orr refrained from talking about the rate outlook and said they have more work to do to get inflation expectations anchored to 2%. Governor Orr said a flexible approach to inflation targeting with a medium-term focus remains appropriate and bringing levels of core inflation back in line with the bank’s 1-3% target is an important part of bringing inflation back to the 2% midpoint, while he also noted the removal of the maximum sustainable employment objective does not mean any big changes to RBNZ’s monetary policy strategy.

European bourses, Stoxx600 (+0.6%) began the session entirely in the green and continued to grind higher throughout the morning. The AEX (+1.0%) is the European outperformer, lifted by strength in semi-conductor names after US-listed Applied Materials (+13.2%) reported strong earnings after-hours; BE Semiconductor (+3.2%), ASM (+3.2%), ASML (+1.3%). European sectors hold a positive tilt, with Basic Resources leading, boosted by higher underlying base metal prices. Tech benefits in a read-across from Applied Materials results. Telecoms lags, hampered by losses in Vodafone (-1.0%). US Equity Futures (ES +0.2%, NQ +0.5%, RTY +0.1%) are mixed, with clear outperformance in the NQ, with optimism permeating within the index after Applied Materials (+13.2%) reported strong results.

Top European News

UK opposition Labour Party won the by-elections in Wellingborough and Kingswood which were both previously held by the Tories, according to The Times.
ECB’s Villeroy said the principle of a rate cut this year seems to be a given and there is still a question of a precise calendar for a rate cut, while he added there are several reasons as to why the ECB should not wait for too long before making the first rate cut, according to an interview with L’Echo cited by Reuters.
ECB’s Schnabel says monetary policy needs to remain restrictive until can be confident that inflation will sustainably return to our medium-term target. Must be cautious not to adjust the policy stance prematurely. Productivity growth is a key determinant of medium-term inflation and real interest rates, which means it directly affects the conduct of monetary policy. Persistently low, and recently even negative, productivity growth exacerbates the effects that the current strong growth in nominal wages has on unit labour costs for firms. This increases the risk that firms may pass higher wage costs on to consumers, which could delay inflation returning to our 2% target. New estimates show that an increase in trend productivity growth by one percentage point can increase r-star by 0.6 percentage points; a higher r-star would reduce the need to embark on unconventional policy measures that often come with larger side effects.
Russian Federation Central Bank Key Rate (Feb) 16.0% vs. Exp. 16.0% (Prev. 16.0%); sees its average key rate at 13.5-15.5% in 2024 (prev. forecast 12.5-14.5%;

Contained trade for DXY and within a tight 104.26-44 range, respecting yesterday’s 104.18-71 range. Upside sees the WTD peak at 104.97, as the index awaits impetus from US PPI.
EUR/USD is contained within yesterday’s 1.0724-84 range as ECB speak does little to sway price action. Any USD selling could prompt a test of 1.08 but Monday’s move above the level was unconvincing.
Following UK Retail Sales Cable initially spiked higher to 1.2605 before gains were trimmed as some desks questioned seasonality issues with the data and with the BoE focussed on wages/inflation. Downside targets include 200DMA at 1.2654.
JPY is the laggard across the majors with some noting BoJ Governor Ueda remaining dovish overnight. So far USD/JPY has printed a peak of 150.36 and is yet to threaten yesterday’s top of 150.58.

Fixed Income

Gilts gapped lower by just under 30 ticks to 97.67 at the open and then waned further to 97.56, following strong Jan. Retail Sales which speak to the signs of an upturn flagged by Bailey pre-GDP.
Bunds have been driven lower by UK Retail Sales with newsflow limited; as such Bunds have not meaningfully moved from their 133.08 session trough.
USTs are moving in tandem with EGBs/Gilts as we head towards the sessions next listed events of Fed’s Barkin and Barr who are scheduled either side of PPI; currently holding around the 109-28 trough.

Commodities

Crude prices have started ebbing lower, paring back some of the prior day’s advances, but the European morning has been quiet thus far in the run-up to the US PPI data and more Fed speak; Brent testing USD 82.00/bbl to the downside.
Muted action across precious metals but prices remain underpinned by yesterday’s Dollar pullback and overall geopolitics; spot gold is flat around yesterday’s highs (USD 2,008.34/oz).
Base metals are mostly firmer with copper among the outperformers despite an obvious catalyst but with desks citing rate cut hopes following yesterday’s US Retail Sales data.
Japan’s Cosmo Oil restarted No.1 CDU in 220k BPD Chiba refinery on Feb 14th following system issues.
Japan’s Eneos (5020 JT) shut its 153k BPD Negishi CDU on Feb 10th amid equipment failure.
Japan is said to be mulling an extension of gasoline subsidies beyond April and gradually phasing it out by summer, according to Kyodo
Azerbaijan Jan oil production 474k BPD (prev. 482k in Dec)

Geopolitics: Middle East

US President Biden raised the situation in Rafah during a call with Israeli PM Netanyahu and reiterated his view that a military operation should not proceed without a credible and executable plan for ensuring the safety of and support for civilians in Rafah. Biden also reaffirmed his commitment to working tirelessly to support the release of all hostages as soon as possible, according to Reuters.
US State Department said the US is working with Qatar, Israel and Egypt on the hostage talks to find an agreement and there are some very hard issues to be resolved, while it was also reported that US Secretary of State Blinken said he believes an Israel-Hamas hostage deal is possible.
US VP Harris is to meet Israeli President Herzog and will meet Iraq’s PM Al-Sudani at the Munich Security Conference today, while Secretary of State Blinken is also to meet with Chinese Foreign Minister Wang at the Munich Security Conference.
“Israeli newspaper Haaretz: Officials expect to conclude a deal to exchange detainees with Hamas within Ramadan month [March]”, according to Sky News Arabia.
“Yemen said its armed forces fired missiles at a British ship passing though the Gulf of Aden on Thursday and scored a “direct hit” in their latest operation in solidarity with the Palestinians.”, according to Tehran Times.

Geopolitics: Other

Japanese Chief Cabinet Secretary Hayashi said they are aware of comments made by North Korean leader Kim’s sister but added that they cannot accept North Korea’s claim that abduction issues were solved, while there is no change to our position to resolve various issues with North Korea comprehensively.
Belarusian President Lukashenko says several Ukrainian citizens were detained on border with Belarus for transporting explosives for use in Russia and Belarus

US Event Calendar

08:30: Jan. PPI Final Demand MoM, est. 0.1%, prior -0.1%, revised -0.2%
- Jan. PPI Final Demand YoY, est. 0.6%, prior 1.0%
- Jan. PPI Ex Food and Energy MoM, est. 0.1%, prior 0%, revised -0.1%
- Jan. PPI Ex Food and Energy YoY, est. 1.6%, prior 1.8%
08:30: Jan. Housing Starts, est. 1.46m, prior 1.46m
- Jan. Housing Starts MoM, est. 0%, prior -4.3%
- Jan. Building Permits, est. 1.51m, prior 1.5m, revised 1.49m
- Jan. Building Permits MoM, est. 1.3%, prior 1.9%, revised 1.8%
08:30: Feb. New York Fed Services Business, prior -9.7
10:00: Feb. U. of Mich. Sentiment, est. 80.0, prior 79.0
- Feb. U. of Mich. Current Conditions, est. 82.5, prior 81.9
- Feb. U. of Mich. Expectations, est. 77.0, prior 77.1
- Feb. U. of Mich. 1 Yr Inflation, est. 2.9%, prior 2.9%
- Feb. U. of Mich. 5-10 Yr Inflation, est. 2.8%, prior 2.9%

Central Bank Speakers

08:00: Fed’s Barkin Speaks in Richmond
09:10: Fed’s Barr Speaks on Bank Supervision
12:10: Fed’s Daly Speaks at NABE Conference

DB’s Jim Reid concludes the overnight wrap

Yesterday was a busy one in terms of data, with a complicated message coming out of the releases ahead of what’s become the most important US PPI print for a while today. PPI will provide an update on some key services components of PCE inflation, including healthcare, airfares, and portfolio management. The first two of these areas saw strong increases in the CPI print earlier this week, but this often does not match the details of the PPI all that closely.

In contrast to that hot CPI print earlier this week, yesterday’s retail sales print threw a conflicting message to that we’ve become accustomed to in recent weeks. The markets largely took what was mixed data in their stride though, with the S&P 500 (+0.58%) managing to post a new all-time high, while 10yr Treasuries (-2.5bps) were well off the yield lows for the day by the close.

Onto that data, and the headline US retail sales missed to the downside, falling -0.8% month-on-month (vs -0.2% expected), and with the December reading revised down from 0.6% to 0.4%. This is the weakest report since last March and showed a broad-based cooling with nine of the 13 spending categories declining. Seasonal factors can sometimes lead to a steep fall in January after the end of the holiday season, but the details of this print and the December revision were not suggestive of this. The retail control group, which excludes vehicles, gas, food services and building materials, and has the strongest correlation with the GDP number, also fell -0.4% (vs 0.2% expected), the first decline since last March. Moreover, retail control growth was revised lower for both December (from +0.8% to +0.6%) and November (from +0.5% to +0.2%). Interestingly, non-store retailers like Amazon accounted for most of the decline in retail control. The category had been a supportive force for retail spending in previous prints.

Adding to the data weakness, industrial production for January also came in softer than expected, falling -0.1% month-on-month (vs 0.2% expected). These reports point to a potential loss of US growth momentum at the start of the year and from a weaker starting point, with the Atlanta Fed GDP nowcast for Q1 down from 3.4% to 2.9% as a result. That said, this is still very decent and other data yesterday was less downbeat. Weekly jobless claims came in modestly below expectations at 212k (vs 220k expected) even if continuing claims rose more than expected to 1895k vs (1880k expected). To continue with the flip flopping nature of the data, we also saw the US February Philadelphia Fed factory index post an upside surprise of 5.2 (vs -8.1 expected), up from -10.6. This is the first-time we’ve seen a positive reading since last August, pointing to improved industrial conditions for the district.

The opening equity reaction to the data was largely neutral but positive sentiment then dominated through the course of the day, with the S&P 500 (+0.58%) closing at another all-time high. This was a broad rally with banks (+2.91%) and energy stocks (+2.48%) the best performers within the S&P 500. Bank outperformance saw the KBW regional bank index rise by +3.64%, its strongest gain in two months. Small caps also posted strong gains, as the Russell 2000 (+2.45%) reached a YTD high 2 days after seeing its worst fall since June 2022. On the other hand, tech stocks underperformed, with the NASDAQ (+0.30%) and the Magnificent 7 (+0.20%) posting only modest gains.

There were some contrasting moves within the Magnificent 7. Tesla rallied +6.22% as a filing showed Elon Musk increasing his stake in the company. At the other end, Alphabet lost -2.17% on news that OpenAI was developing a web search product that could compete with Google. Nvidia also retreated -1.68% from its all-time high. For more on Nvidia, and the 2024 outlook on semiconductors, see our chartbook earlier this week here. There were some more encouraging news for chipmakers late on as Applied Materials, the largest US market of chipmaking machinery, posted upbeat sales guidance.

On the rates side, we initially saw a sizeable rally on the back of the US releases, as December 2024 Fed funds futures fell by 8bps, but this move reversed by the end of the trading session, with the amount of cuts expected by the December meeting unchanged on the day. Fed fund futures have given up another 10bps of 2024 cuts overnight, after Atlanta Fed Governor Bostic said he was “not yet comfortable that inflation is inexorably declining to our 2% objective”, suggesting it may take “some time” for this rate-cut condition to be met. As we go to print ECB Villeroy (slight dove) has just been quoted as saying that the “risk of cutting too late at least as big as too early”.

10yr Treasury yields fell by c. 3pbs immediately after the data, trading almost 7bps lower on the day, but retraced much of the decline to finish the day down -2.5bps at 4.23%, while 2yr yields were down -0.4bps, having traded -8bps down early on. This backdrop saw the broad dollar index decline for the second day in a row (-0.41%) after its three-month high on Tuesday. Overnight, yields have edged back higher with 10yr and 2yr yields both c.+2.5bps to trade at 4.255% and 4.60% respectively.

Over In Europe, fixed income sold off yesterday, as 10yr bunds rose +2.3bps, while OATs (+1.5bps) and BTPs (+0.5bps) saw more modest weakness despite dovish remarks from Malta central bank governor Scicluna, who stated he was “open to rate cut in March as inflation fades”. He is the first to throw in explicit backing for an imminent cut, but also lies clearly on the dovish end of the Governing Council.

Over in the UK, data showed that the economy slipped into a technical recession in the second half of last year, as GDP fell by a larger-than-expected -0.3% quarter-on-quarter in Q4 (vs -0.1% expected and -0.1% prev.), driven by weak consumption and net trade. This saw the expected 2024 BoE rate pricing fall intraday, but this reversed shortly after with 75bps of 2024 cuts priced by the close. The FTSE 100 rose +0.38%. Gilts were largely flat on the day, with the 10yr yield up +1.0bps.

Asian equity markets are extending overnight gains on Wall Street with Hang Seng (+2.44%) leading the way and with the Nikkei (+0.97%) hitting a fresh 34-year high and within touching distance of its all-time high level of 38,916 which was set as long ago as December 1989. Elsewhere, the KOSPI (+1.20%) and the S&P/ASX 200 (+0.68%) are also higher with markets in China remaining closed for the Lunar New Year holidays. US stock futures are fairly flat.

Early morning data showed that the unemployment rate in South Korea dropped more than expected to 3.0% in January compared to a downwardly revised +3.2% level in December. The stronger than expected data indicates that the nation’s labour market remains tight.

Briefly on commodities, oil gained yesterday even as the International Energy Agency trimmed its 2024 demand growth projection relative to January’s forecast. Brent crude rose +1.54% to $82.86/bbl, and WTI crude by +1.81% to $78.03/bbl.

Now to the day ahead. In terms of US data, we have January PPI, housing starts, building permits, the February University of Michigan survey, New York fed services business activity. Elsewhere we have the UK January retail sales and the Canadian International securities transactions. We will also hear from the Fed’s Daly and Bostic, and the ECB’s Schnabel.

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

Equities firmer & NQ leads after strong AMAT earnings, Yen underperforms and Bonds lower; US PPI due – Newsquawk US Market Open

FRIDAY, FEB 16, 2024 – 05:58 AM

European equities are entirely in the green, with semi-conductor names lifted in a read-across from Applied Materials post-earnings; US equities are mixed, NQ leads
Dollar is around flat, JPY underperforms after dovish BoJ Ueda speak
Bonds are subdued, largely led by the higher-than-expected UK Retail Sales print, as attention turns to US PPI/Fed speak
Crude is softer, paring the prior day’s advances; Base metals bid
Looking ahead, US PPI, UoM Sentiment, Comments from Fed’s Daly, Bostic, Barr & BoE’s Pill.

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

2. Listen to this report in the market open podcast (available on Apple and Spotify)

3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

EUROPEAN TRADE

EQUITIES

European bourses, Stoxx600 (+0.6%) began the session entirely in the green and continued to grind higher throughout the morning.
The AEX (+1.0%) is the European outperformer, lifted by strength in semi-conductor names after US-listed Applied Materials (+13.2%) reported strong earnings after-hours; BE Semiconductor (+3.2%), ASM (+3.2%), ASML (+1.3%).
European sectors hold a positive tilt, with Basic Resources leading, boosted by higher underlying base metal prices. Tech benefits in a read-across from Applied Materials results. Telecoms lags, hampered by losses in Vodafone (-1.0%).
US Equity Futures (ES +0.2%, NQ +0.5%, RTY +0.1%) are mixed, with clear outperformance in the NQ, with optimism permeating within the index after Applied Materials (+13.2%) reported strong results.
Click here and here for the sessions European pre-market equity newsflow, including earnings from Eni, Sika, Swiss Re. and more.
Click here for more details.

FX

Contained trade for DXY and within a tight 104.26-44 range, respecting yesterday’s 104.18-71 range. Upside sees the WTD peak at 104.97, as the index awaits impetus from US PPI.
EUR/USD is contained within yesterday’s 1.0724-84 range as ECB speak does little to sway price action. Any USD selling could prompt a test of 1.08 but Monday’s move above the level was unconvincing.
Following UK Retail Sales Cable initially spiked higher to 1.2605 before gains were trimmed as some desks questioned seasonality issues with the data and with the BoE focussed on wages/inflation. Downside targets include 200DMA at 1.2654.
JPY is the laggard across the majors with some noting BoJ Governor Ueda remaining dovish overnight. So far USD/JPY has printed a peak of 150.36 and is yet to threaten yesterday’s top of 150.58.
Click here for more details.

FIXED INCOME

Gilts gapped lower by just under 30 ticks to 97.67 at the open and then waned further to 97.56, following strong Jan. Retail Sales which speak to the signs of an upturn flagged by Bailey pre-GDP.
Bunds have been driven lower by UK Retail Sales with newsflow limited; as such Bunds have not meaningfully moved from their 133.08 session trough.
USTs are moving in tandem with EGBs/Gilts as we head towards the sessions next listed events of Fed’s Barkin and Barr who are scheduled either side of PPI; currently holding around the 109-28 trough.
Click here for more details.

COMMODITIES

Crude prices have started ebbing lower, paring back some of the prior day’s advances, but the European morning has been quiet thus far in the run-up to the US PPI data and more Fed speak; Brent testing USD 82.00/bbl to the downside.
Muted action across precious metals but prices remain underpinned by yesterday’s Dollar pullback and overall geopolitics; spot gold is flat around yesterday’s highs (USD 2,008.34/oz).
Base metals are mostly firmer with copper among the outperformers despite an obvious catalyst but with desks citing rate cut hopes following yesterday’s US Retail Sales data.
Japan’s Cosmo Oil restarted No.1 CDU in 220k BPD Chiba refinery on Feb 14th following system issues.
Japan’s Eneos (5020 JT) shut its 153k BPD Negishi CDU on Feb 10th amid equipment failure.
Japan is said to be mulling an extension of gasoline subsidies beyond April and gradually phasing it out by summer, according to Kyodo
Azerbaijan Jan oil production 474k BPD (prev. 482k in Dec)
Click here for more details.

NOTABLE EUROPEAN HEADLINES

UK opposition Labour Party won the by-elections in Wellingborough and Kingswood which were both previously held by the Tories, according to The Times.
ECB’s Villeroy said the principle of a rate cut this year seems to be a given and there is still a question of a precise calendar for a rate cut, while he added there are several reasons as to why the ECB should not wait for too long before making the first rate cut, according to an interview with L’Echo cited by Reuters.
ECB’s Schnabel says monetary policy needs to remain restrictive until can be confident that inflation will sustainably return to our medium-term target. Must be cautious not to adjust the policy stance prematurely. Productivity growth is a key determinant of medium-term inflation and real interest rates, which means it directly affects the conduct of monetary policy. Persistently low, and recently even negative, productivity growth exacerbates the effects that the current strong growth in nominal wages has on unit labour costs for firms. This increases the risk that firms may pass higher wage costs on to consumers, which could delay inflation returning to our 2% target. New estimates show that an increase in trend productivity growth by one percentage point can increase r-star by 0.6 percentage points; a higher r-star would reduce the need to embark on unconventional policy measures that often come with larger side effects.
Russian Federation Central Bank Key Rate (Feb) 16.0% vs. Exp. 16.0% (Prev. 16.0%); sees its average key rate at 13.5-15.5% in 2024 (prev. forecast 12.5-14.5%;

DATA RECAP

UK Retail Sales MM (Jan) 3.4% vs. Exp. 1.5% (Prev. -3.2%, Rev. -3.3%); Click here for more details.
UK Retail Sales Ex-Fuel YY (Jan) 0.7% vs. Exp. -1.6% (Prev. -2.1%); Retail Sales YY (Jan) 0.7% vs. Exp. -1.4% (Prev. -2.4%); Retail Sales Ex-Fuel MM (Jan) 3.2% vs. Exp. 1.7% (Prev. -3.3%, Rev. -3.5%)
German Wholesale Price Index YY (Jan) -2.7% (Prev. -2.6%); Wholesale Price Index MM (Jan) 0.1% (Prev. -0.6%)
Swedish Unemployment Rate SA (Jan) 8.2% vs. Exp. 8.2% (Prev. 8.2%); Unemployment Rate (Jan) 8.5% (Prev. 7.7%); Total Employment (Jan) 5.136M (Prev. 5.188M)
French CPI (EU Norm) Final YY (Jan) 3.4% vs. Exp. 3.4% (Prev. 3.4%); CPI (EU Norm) Final MM (Jan) -0.2% vs. Exp. -0.2% (Prev. -0.2%)

EARNINGS

Applied Materials (AMAT) – Q1 2024 (USD): Adj. EPS 2.13 (exp. 1.91), Revenue 6.71bln (exp. 6.48bln). Sees Q2 Adj. EPS USD 1.79-2.15 (exp. 1.80). Sees Q2 rev. USD 6.5bln (exp. 5.92bln). CEO says there is a reacceleration in capital investment by cloud companies; memory investment levels are normalising; fab utilisation is increasing across all device types. The DRAM market is strengthening. Sees leading-edge foundry logic being stronger Y/Y in 2024 even though some important projects are delayed. Expect NAND revenues to be up Y/Y but NAND to remain less than 10% of total wafer fab equipment spending. CFO says expect the equipment market to grow as fast or faster than semiconductors over time. (Newswires) Shares +12.7% in pre-market trade
Coinbase Global Inc (COIN) – Q4 2023 (USD): EPS 1.04 (exp. -0.01), Revenue 953.8mln (exp. 826.3mln). Q1 subscription and services revenue view USD 410-480mln (exp. 367.3mln). (Newswires) Shares +10.7% in pre-market trade
DoorDash Inc (DASH) – Q4 2023 (USD): EPS -0.39 (exp. -0.16), Revenue 2.3bln (exp. 2.24bln). FY gross order value view 74-78bln (exp. 76.54bln). FY adj. EBITDA 1.5-1.9bln (exp. 1.62bln). Q1 EBITDA view 320-380mln (exp. 360.3mln). Q1 Marketplace gross order value 18.5-18.9bln (exp. 18.57bln). (DoorDash IR) Shares -7.5% in pre-market trade
DraftKings Inc (DKNG) – Q4 2023 (USD): EPS -0.10 (exp. 0.08), Net income -44.6mln (exp. profit 39.7mln), Revenue 1.23bln (exp. 1.24bln). Monthly Unique Payers 3.5mln (exp. 3.44mln). Average revenue per monthly unique payer 116 (exp. 119.79). FY24 revenue view 4.65-4.9bln (prev. 4.5-4.8bln). FY24 adj. EBITDA view 410-510mln (prev. 350-450mln). DraftKings to acquire Jackpocket for USD 750mln. (DraftKings IR) Shares -3.5% in pre-market trade
Eni (ENI IM) – Q4 (EUR): adj. PBT 3.16bln (exp. 3.39bln), adj. Net 1.6bln (exp. 1.71bln), adj. EBIT 3.76bln (prev. 4.98bln). FY24 outlook will be provided at the 14th March capital markets day. Shares -1.7% in European trade

NOTABLE US HEADLINES

Fed’s Bostic (voter) said the Fed does not face an urgency to cut rates given the current economy and a strong economy argues for patience in adjusting monetary policy but added the Fed is likely soon to contemplate cutting rates. Bostic said inflation is likely to decline more slowly than markets expect and the fight is not finished on getting inflation back to 2% but also noted the Fed has made solid progress in lowering inflation and it is unlikely that January CPI signals a big change in the trend of weakening inflation. Furthermore, Bostic said if inflation retreats faster, he will change his mind on the rate outlook and currently forecasts two rate cuts this year.
US House Republican Emmer says the chamber will not pass another temporary spending bill to avert a shutdown when the current March 1st deadline expires.
Nordea believes the Fed will delay its first rate cut to September 2024. Given this, now look for the first Norges Bank cut in December (prev. September), with risks of no 2024 cut.

GEOPOLITICS

MIDDLE EAST

US President Biden raised the situation in Rafah during a call with Israeli PM Netanyahu and reiterated his view that a military operation should not proceed without a credible and executable plan for ensuring the safety of and support for civilians in Rafah. Biden also reaffirmed his commitment to working tirelessly to support the release of all hostages as soon as possible, according to Reuters.
US State Department said the US is working with Qatar, Israel and Egypt on the hostage talks to find an agreement and there are some very hard issues to be resolved, while it was also reported that US Secretary of State Blinken said he believes an Israel-Hamas hostage deal is possible.
US VP Harris is to meet Israeli President Herzog and will meet Iraq’s PM Al-Sudani at the Munich Security Conference today, while Secretary of State Blinken is also to meet with Chinese Foreign Minister Wang at the Munich Security Conference.
“Israeli newspaper Haaretz: Officials expect to conclude a deal to exchange detainees with Hamas within Ramadan month [March]”, according to Sky News Arabia.
“Yemen said its armed forces fired missiles at a British ship passing though the Gulf of Aden on Thursday and scored a “direct hit” in their latest operation in solidarity with the Palestinians.”, according to Tehran Times.

OTHER

Japanese Chief Cabinet Secretary Hayashi said they are aware of comments made by North Korean leader Kim’s sister but added that they cannot accept North Korea’s claim that abduction issues were solved, while there is no change to our position to resolve various issues with North Korea comprehensively.
Belarusian President Lukashenko says several Ukrainian citizens were detained on border with Belarus for transporting explosives for use in Russia and Belarus

CRYPTO

Bitcoin is firmer on the session, though still holds just shy of the USD 52k mark.

APAC TRADE

APAC stocks sustained the positive momentum from Wall St where yields softened after the US data deluge.
ASX 200 was led higher by the mining sector but with the upside capped as large insurers faltered post-earnings.
Nikkei 225 rallied and briefly approached within 100 points of its record high before reversing some of the gains.
Hang Seng climbed back above the 16,000 level with notable gains in biopharmaceuticals and property with the latter underpinned after a court dismissed liquidation petitions against Chinese developer Logan Group.

NOTABLE HEADLINES

BoJ Governor Ueda said when a sustained and stable achievement of the price target comes into sight, they will examine whether to maintain various easing measures including the negative interest rate. Ueda also noted the specific means of rolling back stimulus will depend on economic conditions at the time and based on the current economic and price outlook, monetary conditions will likely remain accommodative even after ending negative rates.
Japanese Finance Minister Suzuki said a weak yen has merits and demerits, while he is concerned about the negative aspects of a weak yen and reiterated that rapid FX moves are undesirable and is closely watching FX moves with a sense of urgency.
RBNZ Governor Orr refrained from talking about the rate outlook and said they have more work to do to get inflation expectations anchored to 2%. Governor Orr said a flexible approach to inflation targeting with a medium-term focus remains appropriate and bringing levels of core inflation back in line with the bank’s 1-3% target is an important part of bringing inflation back to the 2% midpoint, while he also noted the removal of the maximum sustainable employment objective does not mean any big changes to RBNZ’s monetary policy strategy.

DATA RECAP

Singapore Non-Oil Exports MM (Jan) 2.3% vs. Exp. 0.5% (Prev. -2.8%); Non-Oil Exports YY (Jan) 16.8% vs. Exp. 5.4% (Prev. -1.5%)

2C ASIA AFFAIRS

FRIDAY MORNING/THURSDAY NIGHT

SHANGHAI CLOSED XXX //Hang Seng CLOSED UP 329.30 PTS OR .86% /The Nikkei CLOSED UP 329,30 PTS OR 0.86% //Australia’s all ordinaries CLOSED UP 0.69% /Chinese yuan (ONSHORE) closed XXXX

2 d./NORTH KOREA/ SOUTH KOREA/

NORTH KOREA/SOUTH KOREA

END

2e) JAPAN

JAPAN

END

3 CHINA

CHINA/

END

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

(ALBERT/REMIX)

This is the last thing these countries will do. They will refuse to open up their borders to cheap Ukrainian grain and this is of poor quality

(zerohedge)

EU Demands Hungary, Poland, & Slovakia Open Their Borders To Cheap, Poor-Quality Ukrainian Grain

FRIDAY, FEB 16, 2024 – 02:00 AM

Authored by Denes Albert via ReMix News,

The European Commission insists on extending the duty-free and quota-free access of Ukrainian agricultural products and foodstuffs to EU markets for another year. EU trade commissioner Valdis Dombrovskis recently called on Hungary, Poland and Slovakia to immediately lift the ban on imports of Ukrainian products, which was introduced under national jurisdiction last September.

He noted that trade policy is an EU competence, so unilateral action by member states could lead to infringement proceedings against the three member states, and the World Trade Organization (WTO) could also take action.

The European Commission is pushing for “solidarity” despite the fact that not only Eastern European farmers but also Western European farmers are now facing serious competitive disadvantages due to the influx of poor-quality food from Ukraine. As a result, Ukraine has become a major factor driving farmer protests across the bloc, from France to Poland.

Ukraine’s agricultural products are depressing prices on the EU market, as the costs for large agribusinesses in Ukraine are significantly below those of EU producers. This is because Ukraine has much more permissive rules on production conditions and animal welfare.

Ukraine no longer needs help but benefits from the EU’s open market

Both farmers and countries in Central Europe opposing Ukrainian agricultural imports point out that Ukraine no longer has any problem shipping its agricultural products.

According to Hungarian news outlet Mandiner, It has recently emerged that Ukrainian Infrastructure Minister Oleksandr Kubrakov has said that “in January, Ukrainian grain exports reached pre-war levels, with 14.3 million tons shipped by sea from the port of Odessa, which had previously been blockaded by the Russian army.” He added that more than 650 ships had left the port in recent months, carrying Ukrainian goods to 32 countries around the world.

Before the war, Ukraine used sea routes for the bulk of its agricultural exports, and the infrastructure was built on this form of transport. Previously, these sea routes were blockaded by the Russian army several times during the Russo-Ukrainian war, and they could not be replaced by land transport because the rail infrastructure is not up-to-date to transport large volumes of goods, and the EU and Ukrainian rail gauges are different. However, the immediate danger has subsided, as more and more ships make their way safely to Ukrainian ports and successfully transport agricultural products.

Ever since Brussels decided to temporarily suspend tariffs and quantitative quotas limiting EU imports of agricultural goods and processed food from the war-torn country, Hungary, Poland, and other Central European countries have protested the move. Although the loosening of restrictions on Ukraine’s agricultural products was initially done to support Ukrainian agriculture and ensure agricultural shipments to Africa and the Middle East, multinational corporations have benefited greatly, and much of the grain has remained on European markets instead of being shipped to poorer countries.

This temporary concession was already extended last year by Brussels, and now it has resubmitted its proposal to the European Parliament and the Council, which will be voted on by decision-makers shortly.

Read more here…

end

Can you imagine what is happening in Germany: they are charging Beck for supporting Israel’s right to defend itself

GERMANY

(Reuters/Times of Israel)

Pro-Palestinian groups file legal action against German politician who expressed support for IDF’s Gaza op

By REUTERS

Green party’s Volker Beck speaks in a debate of the German parliament Bundestag on the gay marriage in Berlin, Germany, Friday, June 30, 2017. (AP Photo/Markus Schreiber)

Pro-Palestinian activists have filed criminal charges against a German politician for suspected incitement of hate and denial of war crimes in Israel’s war in Gaza, they say.

The charges against Volker Beck, a former member of parliament and head of the German-Israeli Society, were brought by Palestinian solidarity groups Palestine Speaks and Jewish Voice for Just Peace in the Middle East.

“This is the first step in holding public figures who publicly make genocidal statements legally accountable,” the group writes on its Instagram.

The charges, filed at five prosecutor offices across Germany, cite Beck’s statements on social media, in opinion pieces and media interviews in which he expressed support for Israel’s military operation in Gaza, calling for making humanitarian aid conditional on Hamas freeing Israeli hostages.

Beck rejected the claims as “nonsense.”

“There is no genocide in Gaza and I do not advocate genocide,” he told Reuters, adding that he had filed complaints against the groups for defamation.

“These people have a disturbed relationship with the rule of law if they believe that many complaints lead to more investigations.”

Germany has staunchly defended Israel’s right to defend itself since the Hamas attacks on October 7, underscoring its duty to stand by the country’s side in atonement for the Holocaust in which six million Jews died.

The government has faced accusations — including from prominent Jewish residents in Germany — of allowing guilt to blinker its response to Israel’s retaliation, which has caused a humanitarian crisis in Gaza.

Berlin has shifted towards a more critical stance of its ally as the Palestinian civilian death toll has mounted, stressing the need for Israel to adhere to international law.

The International Court of Justice last month ordered Israel to take all measures within its power to prevent its troops from committing genocide against Palestinians in Gaza, in a case brought by South Africa.

Israel has denied allegations of genocide.

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/GAZA/RAFAH/EGYPT

This is good: Egypt is erecting an 8 square mile walled enclosure which can house 100,000 Gazans

(Jerusalem Post)

Egypt Erects 8-Square-Mile Walled Enclosure In Sinai Desert For Rafah Refugee Spillover

THURSDAY, FEB 15, 2024 – 09:20 PM

In a press briefing earlier this week IDF Chief of Staff Lt. Gen. Herzi said, “We know that it is more difficult for us to fight in an environment where there are over a million people and another 10,000 Hamas operatives” – as we highlighted previously.

There are now some 1.5 million people crammed into the far southern city, which is more than six times its pre-war population, according to UN estimates. Egypt is now fearing the crisis will spill over its border, and is racing to erect a large walled compound to physically keep refugees from Gaza out, amid fears a bigger Israeli ground assault is imminent.

Egyptian officials have said they are constructing an 8-square-mile walled enclosure in the Sinai Desert close to the border, in an anticipation of at least some Gazans getting into Egypt. It appears this a ‘plan B’ of sorts in order to contain the anticipated swarms of refugees coming into the Sinai desert, but without allowing them freedom of access to the rest of Egypt.

According to the The Wall Street Journal, this would be a massive military guarded camp of sorts, which could see over 100,000 people settle there:

For weeks, Egypt has sought to bolster security along the frontier to keep Palestinians out, deploying soldiers and armored vehicles and reinforcing fences. The massive new compound is part of contingency plans if large numbers of Gazans do manage to get in.

More than 100,000 people could be accommodated in the camp, Egyptian officials said. It is surrounded by concrete walls and far from any Egyptian settlements. Large numbers of tents, as yet unassembled, have been delivered to the site, these people said.

With Israeli Prime Minister Benjamin Netanyahu saying his army will need to fight Hamas in Rafah, a Palestinian city on the Egyptian border, Egyptian officials think a broad Israeli offensive could happen within weeks.

But officials say Egyptian border security would still seek to limit refugee numbers coming into the camp to around 50,000 or 60,000 people.

Assuming a brutal Israeli military siege of Rafah happens as anticipated, and as Gazans essentially have nowhere else to go, this Egyptian camp has all the makings of what will likely to become the next permanent Palestinian refugee camp – as is the case with similar settlements which have long been in Jordan, Syria, and Lebanon.

Already large tent cities have popped up after months of Israel’s campaign in Gaza…

Meanwhile, Hamas and Israel are no closer to a ceasefire, and a new report has emerged Thursday strongly suggesting the Biden administration in reality has no interest in peace, and is staying mum while Israeli decision-making gets more hawkish. According to Axios:

Israeli Prime Minister Benjamin Netanyahu told Secretary of State Tony Blinken last week that a direct or indirect U.S. recognition of a Palestinian state “would be a prize for those who planned and orchestrated the Oct. 7 massacre,” two Israeli officials told Axios.

Such recognition by the U.S. would change decades of American policy that advocated for a Palestinian state only as a result of direct negotiations with Israel. The Israeli government is increasingly concerned if that happens, it would put more pressure on Israel to accept a Palestinian state.

One displaced Gazan has been cited in WSJ as follows: “Some people are already on the Egyptian border, and if the bombing intensifies, they will go directly to Sinai. It’s the worst of decisions.”

END

ISRAEL/HAMAS//RAFAH

Riots inside Gaza as the Hamas killed a teen trying to obtain humanitarian aid

(Jerusalem Post)

Gazan riots erupt near Rafah’s border with Egypt, fire breaks out

Channel 12 reported the riots broke out after a Gazan teen was shot dead by Hamas policemen while attempting to gather humanitarian aid.

By JERUSALEM POST STAFF

Riots have erupted in the border area between Rafah to Egypt, with footage circulating showing gunfire and explosions near the crossing, Israeli and Palestinian media reported.

Channel 12 reported the riots broke out after a Gazan teen was shot dead by Hamas policemen while attempting to gather humanitarian aid.

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

https://www.jpost.com/breaking-news/article-787360

Four sources told Reuters that Egypt had begun preparing an area at the Gaza border that could accommodate Palestinians in case an Israeli offensive on Rafah prompts an exodus across the frontier, emphasizing this was a contingency step.

The head of Egypt’s State Information Service said the sources’ accounts had “no basis in truth.”

This is a developing story.

ISRAEL/HAMAS/RAFAH/TIMES OF ISRAEL

THIS IS A BIG STORY

Riots at Rafah Crossing after Gaza teen trying to grab aid shot dead by Hamas

Footage shows chaos at border with Egypt as family members of the victim said to start fires at the scene

Rioting at the Rafah Crossing in southern Gaza on February 16, 2023 (video screenshoT

Riots took place near the Gaza Strip’s border crossing with Egypt Friday, reportedly after a Palestinian teen who tried to grab items from a humanitarian aid shipment was shot dead by Hamas police.

Arabic media reported on the incident at the Rafah Crossing.

The teen, identified as Muhammad al-Araja, was apparently one of a group of people who tried to nab the aid when he was shot dead.

After the shooting, reports and footage indicated that many members of the victim’s large extended family began rioting at the crossing, setting fire to parts of the complex and clashing with authorities there.

Nearly 1.5 million displaced Palestinians — more than half of Gaza’s population — are in Rafah, seeking shelter from the Israel-Hamas war in a sprawling makeshift encampment near the Egyptian border, and the humanitarian conditions there have been described as increasingly dire.

The Defense Ministry’s liaison unit to the Palestinians chastised the United Nations on Thursday, alleging it was not keeping up with humanitarian aid operations in the Strip.

Since the beginning of the war, aid groups have charged that they are not receiving enough supplies to meet the demands of Gazans in the embattled enclave.

ספיר ליפקין | Sapir Lipkin | سابير ليبكين

@sapirlipkin

מהומות במעבר רפיח: נער פלסטיני ניסה לקחת סיוע הומניטרי מתוך המשאיות יחד עם רבים אחרים – נורה למוות, ככל הנראה בידי שוטרי חמאס בתגובה: רבים ממשפחתו של הצעיר הגיעו למעבר – והתפתחו עימותים של המונים. גם שער הכניסה של המעבר הוצת. משטרת חמאס התערבה בניסיון לדכא את המהומות

@N12News

Translate post

11:56 AM · Feb 16, 2024

176.3K Views

But the Coordinator of Government Activities in the Territories (COGAT) posted photos on X of what it said is “the content of 500 trucks of humanitarian aid on the Gazan side of Kerem Shalom, AFTER Israeli inspection, waiting to be picked up and distributed by UN organizations.

“It is the 3rd day in a row that hundreds of trucks are not picked up. The UN needs to scale up their operations,” COGAT said.

Israel has accused humanitarian actors of not doing enough to distribute aid since the beginning of the war. Particular criticism has been directed at the International Committee of the Red Cross (ICRC), which stands accused of failing to visit hostages held by Hamas and provide them with adequate assistance.

ICRC President Mirjana Spoljaric said Thursday: “We are reaching the barriers of language in describing the humanitarian situation.”

COGAT

@cogatonline

This is the content of 500 trucks of humanitarian aid on the Gazan side of Kerem Shalom, AFTER Israeli inspection, waiting to be picked up and distributed by

@UN

orgs. It is the 3rd day in a row that hundreds of trucks are not picked up. The UN needs to scale up their operations

12:52 PM · Feb 15, 2024

390.3K Views

END

end

END

ISRAEL/.HAMAS/UNRWA

More than 30 of UNRWA’s employees actively participated in October 7

Gallant told reporters that Israel has intelligence that more than 30 of the organization’s employees actively participated in the murder spree, assisting in the kidnapping of civilians and soldiers.

By JERUSALEM POST STAFFFEBRUARY 16, 2024 19:25Updated: FEBRUARY 16, 2024 21:11

Defense Minister Yoav Gallant announced on Friday the details of 12 UNRWA employees who are members of Hamas and participated in the October 7 massacre.

Gallant told reporters that Israel has intelligence that more than 30 of the organization’s employees actively participated in the murder spree, assisting in the kidnapping of civilians and soldiers.

He presented data, according to which 12% of the 13,000 UNRWA employees are connected to terrorist organizations in Gaza, and 1,468 of the employees are even active in them.

Hamas operative working for UNRWA who participated in the October 7 massacre. (credit: DEFENSE MINISTRY)

Gallant presented a video to the reporters taken by security cameras at the Erez crossing on October 7, in which you can see how the medics of the Palestinian “Red Crescent” helped to evacuate a wounded Nukhba terrorist.

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

Everyone, please meet the Nazi terrorist supporters of the Red Crescent: They won’t help kidnapped Jewish victims, men, women, kids, and babies in captivity, but they mist certainly will provide aid for terrorists heading to mass slaughter Jews. WATCH

0:04 / 1:12

Quote

Adam Albilya – אדם אלביליה

@AdamAlbilya

Defense Minister Gallant Reveals: Over 30 UNRWA Employees Participated in the October 7th Slaughters of Jews, Over 1450 Terrorist Employees Israeli Defense Minister Yoav Gallant discloses the data on UNRWA’s terrorist organization: More than 30 employees actively engaged in the…

Last edited12:05 PM · Feb 16, 2024

1,187 Views

The UNRWA employees hold various innocuous positions in the organization from social worker to school counselor, to maths teacher.

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

The Palestine Red Crescent (PRCS) responded to Gallant’s claims and to the video saying that the people visible in the video were not part of a PRCS medical team, but that PRCS said that medical treatment is a right for everyone.

That the medical team and the ambulance shown in the video are not of PRCS. The PRCS teams and volunteers are committed to abiding by the humanitarian principles of the Red Cross Red Crescent Movement particularly neutrality and impartiality. The PRCS asserts that medical treatment is a right for everyone, and it should be provided to all those in need regardless of their affiliation.

With regard to the video circulating showing a wounded fighter receiving medical assistance, the Palestine Red Crescent Society (PRCS) affirms that the medical team and the ambulance shown in the video are not of PRCS. The PRCS teams and volunteers are committed to abiding by the humanitarian principles of the Red Cross Red Crescent Movement particularly neutrality and impartiality. The PRCS asserts that medical treatment is a right for everyone, and it should be provided to all those in need regardless of their affiliation.

1:21 PM · Feb 16, 2024

END

ISRAEL/TERRORISTS

Two killed and several wounded in a shooting by terrorists in southern Israel. Shooter neutralized

(Jerusalem Post)

Two killed, two seriously wounded in shooting attack in southern Israel

Police were conducting searches in the area to ensure there were no other terrorists or accomplices on the loose.

By TZVI JOFFREFEBRUARY 16, 2024 12:57Updated: FEBRUARY 16, 2024 14:2

Emergency services at the scene of a shooting near Bnei Re'im. February 16, 2024 (photo credit: UNITED HATZALAH‏) — Emergency services at the scene of a shooting near Bnei Re’im. February 16, 2024(photo credit: UNITED HATZALAH‏)

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

Two people were killed, two others were seriously wounded, one person was moderately wounded, and one person was lightly wounded in a suspected shooting attack on Highway 40 near Bnei Re’em in southern Israel on Friday afternoon.

A civilian who was driving by managed to get out of his car and shoot and kill the terrorist. Police were conducting searches in the area to ensure there were no other terrorists or accomplices on the loose. Israel Police chief Kobi Shabtai and National Security Minister Itamar Ben Gvir headed to the scene after the attack.

The terrorist arrived at the scene in a stolen car and fired at people waiting at a bus stop at the Re’em Masmiya Junction, located east of Ashdod. Initial investigations indicate that the terrorist was a resident of Shuafat in east Jerusalem with Israeli residency.

Shabtai told reporters after the attack that police had raised their level of alert around the country.

Ben Gvir used the opportunity to promote his efforts to make it easier for civilians to get a gun license, stressing “weapons save lives.”

Emergency services at the scene of a shooting near Bnei Re'im. February 16, 2024 (credit: MAGEN DAVID ADOM) — Emergency services at the scene of a shooting near Bnei Re’im. February 16, 2024 (credit: MAGEN DAVID ADOM)

Kiryat Malachi deploys security teams at entrance to city

After the attack, the Kiryat Malachi Municipality announced that municipal security teams were deployed at all the entrances on the eastern side of the city, located south of the site of the attack.

“We quickly arrived at the scene with large forces,” said the deputy director of Magen David Adom in the Lachish District Nachum David. “The scene was very difficult. We saw people with gunshot wounds lying down with some of them unconscious. We immediately performed first aid for the wounded. A young man about 20 years old was unconscious without a pulse and not breathing with gunshot wounds. We gave him life-saving treatment, tried to fight for his life, and evacuated him to the hospital while conducting resuscitation efforts.”Advertisement

“Another young man about 20 years old was unconscious and a boy about 16 years old and a man about 65 years old were conscious and suffered from severe penetrating injuries,” added “A 65-year-old woman was in moderate condition, and a 52-year-old man who managed to escape from the scene called us near the nearby town of Yad Binyamin. We reached him quickly, he was conscious and suffered a penetrating injury to his body and we also evacuated him to the hospital as his condition was moderate and stable.”

Palestinian Islamic Jihad spokesperson Muhammad Hajj Musa welcomed the attack, saying it served as a “response” to the war in Gaza.

“We call on our people to intensify operations and pain the enemy in response to its crimes, because it is the only language this enemy understands,” said Musa.

This is a developing story.

END

Death toll in shooting attack rises to 2

Israeli security at the scene of a shooting attack in southern Israel on February 16, 2024. (Nati Shohat/FLASH90)

The Kaplan hospital says that a second victim of the shooting attack in southern Israel has died of their wounds.

Four others are wounded, two in serious condition and two in moderate condition.

The attacker was shot and killed.

END

Netanyahu after Re’em attack: The murderers want to kill us all

The body of a suspected attacker lies at a bus stop as Israeli police investigate the site of a shooting attack at the Re’em junction near Kiryat Malakhi in southern Israel, Friday, Feb. 16, 2024. (AP Photo/Tsafrir Abayov)

Prime Minister Benjamin Netanyahu says that the shooting attack at the Re’em Junction shows that “the murderers want to kill us all.”

“I send my condolences from the bottom of my heart to the families of those murdered in the attack at Re’em Junction, and pray for the well-being of the wounded,” Netanyahu says after two people were killed and four wounded in the attack.

“This attack reminds us that the whole country is a front and that the murderers, who come not only from Gaza, want to kill us all,” he says.

“We will continue to fight until complete victory with all our strength, on every front, everywhere, Until we restore security and peace to all citizens of Israel.”

END

RUSSIA

Navalny dead.

(zerohedge)

Russian Opposition Leader Alexei Navalny Dies In Jail

FRIDAY, FEB 16, 2024 – 06:55 AM

Russian opposition leader Alexei Navalny died in a maximum-security prison in the country’s far north, the Interfax news service reported Friday, citing the Federal Penitentiary Service.

47 year old Navalny, a major critic of President Vladimir Putin, vanished in December from a prison in the Vladimir region where he was serving a three-decade term for extremism and fraud charges that he had called political payback for his anti-Kremlin stance a decade ago. He had no expectations of getting out of jail as long as Putin was in power.

“On February 16, 2024, in penal colony No. 3, convict A.A. Navalny felt unwell after a walk, almost immediately losing consciousness,” Interfax said, citing the country’s prison service.

The Russian news agency continued: “The facility’s medical workers immediately arrived at the scene and an emergency medical team was called in. All necessary resuscitation measures have been carried out, but they did not yield positive results. Emergency medics confirmed the death of the convict.”

Navalny’s death leaves any opposition to Putin in question. All of Putin’s top adversaries are now either deceased, imprisoned, or living in exile.

*This is a developing story

END

6.Global Issues//COVID ISSUES/VACCINE ISSUES

GLOBAL ISSUES

The plight of EV!

Mr. Bean Was Right – And So Was Toyota

THURSDAY, FEB 15, 2024 – 08:20 PM

Authored by Duggan Flanakin via RealClear Wire,

When auto (even EV driving) enthusiast Rowan Atkinson – Mr. Bean to his fans – last June wrote in The Guardian that there are “sound environmental reasons” why “keeping your old petrol car may be better than buying an EV,” he was vilified as a eco-traitor.

Atkinson had added, “We’re realizing that a wider range of options need to be explored if we’re going to properly address the very serious environmental problems that our use of the motor car has created.” These include, he said, hydrogen fuel cells and synthetic fuels that would extend the lives of older vehicles long after governments are demanding they be scrapped.

Atkinson, who has a bachelor’s in electrical and electronic engineering and a master’s in control systems, urged Britons to “look at a bigger picture” to include greenhouse gas emissions during the manufacture of electric vehicles and to evaluate the whole life cycle of motor vehicles.

Relying on a dash of common sense, Atkinson noted that pushing so heavily so soon for EVs that have major flaws will result in “millions of overweight electric cars with rapidly obsolescing batteries.” Technologic developments with hydrogen and synthetic fuels, which can power existing internal combustion engines, may prove a better long-term solution. For one reason, the owners of the world’s 1.5 billion ICE vehicles could continue enjoying them.

For sharing his insights, Atkinson was immediately smacked around by snarky reporters and EV “experts.” Simon Evans, deputy editor at Carbon Brief, slammed Atkinson for not adhering to Carbon Brief’s own “evidence” from years back stating that EVs cut “planet-warming emissions” by two-thirds on a life cycle basis and calling EVs “an essential part of tackling the climate emergency.”

How dare he?

Michael Coren, writing in the Washington Post, portrayed Atkinson as an iconoclast clinging to his petrol car, lampooned hydrogen and synthetic fuels as expensive and impractical, and compared ICE vehicles to hobby horses. Coren argued that “making every car burn [hydrogen] is not a good idea,” yet implied that forcing every driver to buy an EV is a very good idea.

Eight months later, though, the detractors who had hoped to make Atkinson an example of a troglodyte were singing a different tune, in the wake of a collapse in the British EV market.

Mr. Bean was condemned in the House of Lords by the Green Alliance as “partly at fault for ‘damaging’ public perceptions” of EVs and as a dangerous enemy of Britain’s drive to Net Zero. The Guardian, which published Atkinson’s tome, was accused indirectly of failing to adhere to “high editorial standards around the Net Zero transition.”

[Translation: ONLY glowing reports on EVs are acceptable public speech.]

It couldn’t have been the exorbitant cost of auto insurance for EVs, their tendency to catch fire and burn for days, or the high cost and long wait times for parts and repairs – or the long waits at charging stations to plug in and wait for enough charge at least to reach the next destination. Nor could it be that people are uncomfortable enriching China as their own auto companies face bankruptcy? No – it was allowing someone to publicly question the rush to electrification.

Halfway around the world, Toyota, which “lagged behind” its major competitors in ditching their ICE vehicle fleets for all-EV production lines, “is riding a windfall of hybrid vehicle sales on its way to posting projected net profits of more than $30 billion.” While Ford lost $4.7 billion trying to create an EV market, dropping its net profit to just $4.2 billion, Toyota now appears to be in better financial shape than its American and European competitors.

Over a year ago, then-Toyota CEO Akio Toyoda had cautioned that the EV transition would “take longer than the media would like us to believe.” Ford, GM, Stellantis, and many other automakers worldwide played nice with the political and financial giants while Toyota’s management stepped away from the rhetoric, looked at the numbers, and chose a commonsense approach to the evolving world auto marketplace.

The company did sell 15,000 pure EVs in the U.S. in 2023, but they also sold 40,000 plug-in hybrids and more than 600,000 non-rechargeable hybrids out of total U.S. sales of 2,248,477 vehicles, a 6% increase from 2022 levels. Ford fell short of its goal to produce 300,000 EVs a year by 2023 and has revised its earlier forecast of 2 million EVs by 2026. Worse, Ford now expects to lose as much as $5.5 billion on EVs in 2024.

Over in Europe, Volvo just announced it is withdrawing support for its marquee electric vehicle Polestar and hopes to sell its 48% stake, possibly to a Chinese buyer. Just days earlier, Polestar had cut 450 jobs, about 15% of its workforce.

Elsewhere in Europe, EV sales are expected to decline in 2024 in Germany, Europe’s largest auto market, and Renault just scrapped plans to spin off its Ampere EVs, blaming a lack of interest from investors and a slowdown in sales.

EV sales in the United Kingdom also flatlined in 2023, prices for used EVs fell sharply, raising questions about their residual value. Even EV-friendly Switzerland admits it will take at least 20 years to fully electrify its fleet; while EVs and hybrids today comprise about 30% of Swiss new car sales, these vehicles amount to less than 4% of the total national fleet.

Oil and gas companies are getting the message, too. BP, which once billed itself as “Beyond Petroleum,” has been encouraged by an activist investor to reduce its investments in renewables and recommit to oil and gas. A major reason – oil and gas investments in recent years have boomed while investments in renewables have faltered. Bluebell Capital Partners asserted that BP’s commitment to renewable has left its stock price undervalued by 50% compared to ExxonMobil and Chevron.

President Biden’s demand that the U.S. comply with his EV mandates was dealt a major blow last month, when auto rental giant Hertz, heretofore the nation’s largest fleet operator of electric vehicles, announced it was selling all 20,000 of its EVs and not buying any more. The company cited high repair costs and weak demand for EV rentals. Karl Bauer of iSeeCars.com, noting that mainstream consumers were already hesitant to buy and EV, said “the larger impact of the Hertz EV fire sale is the perception hit to the technology.”

The fictional Mr. Bean is known (and revered) for his original and often absurd solutions to problems and his total disregard for others while solving them, and for his pettiness and occasional malevolence. Had the British press mocked Mr. Atkinson for a Bean-like performance, the climate emergency propagandists might have laughed him off successfully.

But they are not able to laugh without derision.

The real Mr. Atkinson, like the decision makers at Toyota, is espousing commonsense wisdom such as “don’t put all of your eggs in one basket.” Extending the lifespan of existing vehicles, even with currently high-cost hydrogen or synthetic fuels, is far better for the environment than junking them for electric vehicles that require diesel fuel to power charging stations.

If, as we are told, EV batteries will soon be smaller, cheaper, and stronger, that day has not yet come. Just as likely, the cost of hydrogen and synthetics will also drop significantly, and those fuels can power existing ICE vehicles. Most of all, if there truly was a “climate emergency,” diplomats would be quicker to end military conflicts and ending the rush by China and India to build more and more coal-fired power plants (needed, of course, to charge EV batteries).

What Mr. Bean and Toyota are truly saying to the world is that mandates – government deciding what can and cannot go to market – and the huge subsidies that go along with them (which would be unnecessary in a true emergency) are at war with the wisdom of the market, which relies on true public opinion as to what is best for the consumer.

Duggan Flanakin is a senior policy analyst at the Committee For A Constructive Tomorrow who writes on a wide variety of public policy issues.

END

MARK CRISPIN MILLER

DR PAUL ALEXANDER

BRUCHA: The depraved animals like Bourla, Bancel, Sahin, Weissman et al., this type, coming now at your babies with the RSV vaccine, Injection of Beyfortus (nirsevimab, monoclonal antibody

against bronchiolitis caused by RSV), these beasts will not stop, they got an in so tell them ‘to hell with you’! stay away from my baby! fight

DR. PAUL ALEXANDERFEB 16

READ IN APP

French whistleblower calculations demonstrate the existence of a very significant increase in the number of deaths of babies aged two to six days, two months in a row, exactly since the introduction of this “preventive monoclonal therapy against bronchiolitis” (Beyfortus®) which has never really been tested in newborns.’

BRUCHA WEISBERGER’s stunning substack, deserves a serious read and support her work

end

Someone help me/us PLEASE, someone tell me what these results show? You preening COVID vaccine experts, EXPLAIN these results! “children who had received DTP-only and no OPV (HR = 10.0 (2.61-38.6))

All-cause infant mortality after 3 months of age increased after introduction of these vaccines (HR = 2.12 (1.07–4.19)).” Researchers: ‘DTP is killing more children than diseases it targets’; B GATES?

DR. PAUL ALEXANDERFEB 16

READ IN APP

Hat tip SAGE H for in this substack (see their huge stack below), and based on these numbers, it is clear that Bill Gates makes Pol Pot blush:

Thank you SAGE H, as I said, we do not need to agree on all, but when it’s good work, and I learn and I can share and expound, I do. I give credit and this is good work. You are over the target striking now deep into enemy territory striking fear in their hearts…

end

SLAY NEWS

The latest reports from Slay News

Bill Gates’ Plan to ‘Fight Climate Change’ by Blocking the Sun Begins Bill Gates’s radical plan to “save the planet” from “climate change” by blocking out the Sun has officially launched as scientists began pumping chemicals into the sky this week.READ MORE

Former Dutch Prime Minister & Wife Euthanized by Government Former Netherlands Prime Minister Dries van Agt and his wife Eugene have been euthanized by the Dutch government’s taxpayer-funded “assisted suicide” program.READ MORE

Epstein Victims Sue U.S Government, Accuse FBI of Enabling Crimes A group of Jeffrey Epstein’s victims has filed a lawsuit against the U.S. federal government over allegations the FBI enabled his crimes.READ MORE

Special Counsel Robert Hur to Testify Publicly on Biden Age & Memory Issues Special Counsel Robert Hur is preparing to be grilled by House lawmakers over his recent damning report that highlighted serious concerns with Democrat President Joe Biden’s age and mental fitness.READ MORE

Speaker Johnson: House ‘Certainly’ Won’t Vote on Senate’s Ukraine Funding Plan Speaker Mike Johnson (R-LA) has asserted that the U.S. House will not be voting on the Senate’s plan for funding Ukraine’s endless war with Russia.READ MORE

‘The Big Guy’: Hunter Biden Letter Raises More Questions about China Deals during Father’s Vice Presidency A letter dating to Joe Biden’s vice presidency has raised fresh questions regarding the Democrat president’s family business deals with Communist China.READ MORE

Kamala Harris Urged to Invoke 25th Amendment to Remove Biden from Office Calls have been increasingly growing louder for Democrat President Joe Biden to be removed from office amid mounting concerns about his age and fitness.READ MORE

Supreme Court Gives Jack Smith One Week to Respond to Trump’s Immunity Request The United States Supreme Court has just issued a deadline for Special Counsel Jack Smith to a request from President Donald Trump regarding his presidential immunity.READ MORE

Stock Market Tumbles after Biden’s Premature Celebration of Temporary High Mark After one of the stock markets reached an unprecedented high, Democrat President Joe Biden seized on that bit of good news and boasted on social media about the supposed success of his “Bidenomics” policies.READ MORE

Mayor Adams Issues Urgent Warning as Border Crisis Engulfs New York City Democrat Mayor Eric Adams has just issued an urgent warning over the national border crisis as New York City has now become overrun with illegal aliens.READ MORE

Tim Scott to Appear on Stage with Trump at Rally as Running Mate Rumors Swirl Republican Sen. Tim Scott (R-SC) is expected to join President Donald Trump on stage for a campaign rally in South Carolina Wednesday night.READ MORE

85% of Independents Would Vote for Trump over ‘Unfit Puppet’ Biden, NYT Focus Group Reveals The results of a New York Times focus group will be sending shockwaves through the Democratic Party over its current nominee for 2024, President Joe Biden.READ MORE

Illegal Alien Involved in Times Square NYPD Attack Arrested Again over Macy’s Store Robbery A military-aged illegal alien, who was involved in the notorious Times Square attack on NYPD officers last month, has just been arrested again over a robbery at a Macy’s store in New York City.READ MORE

The latest reports from Slay News

EVOL NEWS:

LATEST NEWS:

NEWS ADDICT

LATEST REPORTS FOR NEWS JUNKIES

Top Scientist Exposes WEF’s Depopulation Agenda A world-renowned scientist is raising the alarm to expose the depopulation agenda of the World Economic Forum (WEF) and the globalist organization’s allies.READ THE FULL REPORT

England Suffers 1 Million Covid Vaccine Deaths in Just 2 Years Alarming new official data from the UK government shows that England has suffered a staggering one million deaths from Covid mRNA vaccines in just two years.READ THE FULL REPORT

Putin’s Big Biden Announcement Rocks D.C.During an interview with broadcaster Rossiya 1 TV, Russian President Vladimir Putin conveyed his perspective on President Joe Biden, asserting that he would prove more advantageous for Russia compared to Donald Trump.READ THE FULL REPORT

Mitch McConnell Makes Tragic Announcement On Wednesday morning, Senate Minority Leader Mitch McConnell made an announcement regarding the unfortunate passing of Angela Chao, the sister of his wife, Elaine Chao, in a recent car accident.READ THE FULL REPORT

New Report Hints at What Happened to ‘Missing Binder’ Showing CIA Involvement in Russia Hoax A new report follows up on the bombshell unleashed on Tuesday suggesting the location of the “missing binder” showing CIA involvement in an international espionage operation to frame Donald Trump as a pro-Russian traitor during the 2016 election.READ THE FULL REPORT

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

END

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

END

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

PAKISTAN

END

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

EURO VS USA DOLLAR: 1.0771 DOWN .0002

USA/ YEN 150.22 UP 0.257 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2592 DOWN .0006

USA/CAN DOLLAR: 1.3476 UP .0010 (CDN DOLLAR DOWN 10 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED

Hang Seng CLOSED UP 395.33 POINTS OR 2.18%

AUSTRALIA CLOSED UP 0.69% // EUROPEAN BOURSE: ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 395.33 PTS OR 2.48%

/SHANGHAI CLOSED

AUSTRALIA BOURSE CLOSED UP 0.69%

(Nikkei (Japan) CLOSED UP 329.30 PTS OR 0.86%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 2007.55

silver:$22.97

USA dollar index early FRIDAY morning: 104.22 UP 2 BASIS POINTS FROM THURSDAY’s CLOSE.

FRIDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing FRIDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 3.053% UP 5 in basis point(s) yield

JAPANESE BOND YIELD: +0.725% UP 1 AND 7//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.292 UP 5 in basis points yield

ITALIAN 10 YR BOND YIELD 3.884 UP 6 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.394 UP 6 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR FRIDAY

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

Euro/USA 1.0774 UP 0.0002 or 2 basis points

USA/Japan: 150.23 UP 0.271 OR YEN DOWN 27 basis points/

Great Britain/USA 1.2600 UP .0001 OR 1 BASIS POINTS //

Canadian dollar DOWN .0023 OR 23 BASIS pts to 1.3484

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed ON SHORE CLOSED

THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.2124)

TURKISH LIRA: 30.84 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.725…

Your closing 10 yr US bond yield UP 6 in basis points from THURSDAY at 4.299% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.448 UP 3 in basis points /12.00 PM

USA 2 YR BOND YIELD: 4.766 UP 10 BASIS PTS.

GOLD AT 3;30 AM 2013,00

SILVER AT 3;30: 23.41

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

London: CLOSED UP 114.18 PTS OR 1.50%

German Dax : CLOSED UP 70.75 PTS OR 0.41%

Paris CAC CLOSED UP 24.76 PTS OR 0.32%

Spain IBEX CLOSED DOWN 40.90 PTS OR 0.41%

Italian MIB: CLOSED UP 37.95 PTS OR 0.12%

WTI Oil price 79.10 12: EST

Brent Oil: 83.26 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 92.23; ROUBLE DOWN 0 AND 2//100

GERMAN 10 YR BOND YIELD; +2.3940 UP 6 BASIS PTS

UK 10 YR YIELD: 4.140 UP 8 BASIS POINTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0774 UP .0002 OR 2 BASIS POINTS

British Pound: 1.2600 UP .0001 or 0 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.140 UP 9 BASIS PTS//

JAPAN 10 YR YIELD: 0.725%

USA dollar vs Japanese Yen: 150.23 UP 0.271//YEN DOWN 27 BASIS PTS//

USA dollar vs Canadian dollar: 1.3484 UP .0023 CDN dollar DOWN 23 basis pts)

West Texas intermediate oil: 79.10

Brent OIL: 83.26

USA 10 yr bond yield UP 6 BASIS pts to 4.299%

USA 30 yr bond yield UP 3 BASIS PTS to 4.448%

USA 2 YR BOND: UP 9 PTS AT 4.656%

USA dollar index: 104.20 UP 1 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 30.84 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 92.23 UP 0 AND 2/100 roubles

GOLD 2012.50 3:30 PM

SILVER: 23.39 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 145.13 PTS OR 0.37%

NASDAQ DOWN 159.74 PTS OR 0.50%

VOLATILITY INDEX: 14.40 UP 0.39 PTS OR 2.78%

GLD: $186.34 UP 0.68 OR 0.37%

SLV/ $21.39 UP .45 OR 2.15%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Bitcoin & Black Gold Bid As Stagflation Fears Wreck 52-Year-Old Equity Win-Streak

FRIDAY, FEB 16, 2024 – 04:00 PM

The S&P 500 was on course for its 15th positive week of the last 16, but a late-day sell-off spoiled the historic streak which hasn’t happened since March 1972.

Here’s what that streak would have looked like… but no more!

This occurred in a week that saw hotter-than-expected inflation (CPI and PPI), but weaker-than-expected retail sales, industrial production, and housing activity – which all sounds very stagflation-y.

All of which pushed ‘hard’ data to its biggest weekly decline since the first week of October…

Source: Bloomberg

But, based on the lagged impact of the dramatic easing of financial conditions last year, we suspect this ‘weak’ week is a blip and economic ‘animal spirits 2.0’ continues for another month at least…

Source: Bloomberg

Rate-cut odds fell (hawkishly) this week with even June now only a 60% chance of being the first cut…

Source: Bloomberg

And the market is pricing a 50-50 chance of 3 or 4 rate-cuts for the year, sliding less-dovishly this week…

Source: Bloomberg

While stocks ripped back from the CPI puke on Tuesday, they were unable to build on gains…

And that left Nasdaq the week’s biggest loser, Small Caps the biggest winner while the S&P limped lower and The Dow clung to unchanged…

After Tuesday’s bloodbathery, the short-squeezers returned with avarice. But, today they seemed to run out of ammo as OpEx wiped away all the long gamma…

Source: Bloomberg

SMCI entered a bear market (down over 25% from its highs today)…

MAG7 stocks ended the week lower, unable to re-gather any momentum from the CPI-spill…

Source: Bloomberg

Treasury yields were higher across the curve this week after hotter than expected CPI, jobless claims, and then PPI…

Source: Bloomberg

But, as the chart above shows, the short-end notably lagged, leaving the yields curve to an ugly bear flattener. The 2s30s curve is back at its most inverted in 2024…

Source: Bloomberg

Mortgage rates surged back up to two month highs…

Source: Bloomberg

The dollar ended the week higher, but barely, after giving back all the CPI spike gains…

Source: Bloomberg

Bitcoin rallied (8%) back above $52,500 this week (its highest since Nov 2021), the fourth straight week of gains for the largest crypto currency…

Source: Bloomberg

On the heels of over $2BN of net inflows into spot bitcoin ETFs this week…

Source: Bloomberg

Notably, bitcoin ETFs have seen almost $5BN of net inflows since inception and during that time, Gold ETFs have seen net outflows of over $2BN…

So it’s not a total surprise that gold ended lower on the week, even though it bounced back notably above $2000 (spot) after the CPI clubbing…

Source: Bloomberg

Oil prices rallied for the 4th week of the last 5, with WTI back above $79 and it highest close since the first week of November…

Source: Bloomberg

Meanwhile, this happened to XOM…

Source: Bloomberg

And don’t expect gas prices to help CPI anytime soon (or Biden’s re-election hopes)…

Source: Bloomberg

Finally, the most important single-stock earnings print in years is imminent. We are of course talking about NVDA. The current skew for the stock’s options is pretty balanced between upside and downside, but as the chart below shows, in the last week, upside (calls) have been aggressively bid…

Source: Bloomberg

As Goldman’s Brian Garrett noted, with an 11% implied move, the quantum of market cap priced for gain or loss is equivalent to stock number 37 in the SP500 ($200bn+).

Monday is a market holiday, so at least stocks won’t actually trade higher that day, but next week promises to be another fun one.

MORNING TRADING//

end

MORNING TRADING

II USA DATA

The economy is faltering badly

(zerohedge)

Housing Starts Collapsed In January – Biggest MoM Decline Since COVID Lockdowns

FRIDAY, FEB 16, 2024 – 08:58 AM

After single-family home starts plunged in December, analysts did not expect much of a bounce back in January as rates remain high and some regions were affected by weather.

Analysts were way off. Housing Starts puked 14.8% MoM in January (vs unchanged exp), but December’s 4.3% MoM decline was revised up to a 3.3% MoM rise. Building Permits also tumbled, down 1.5% MoM (vs +1.3% exp) and well down from the +1.8% MoM in December…

Source: Bloomberg

This pushed the Housing Starts SAAR back near post-COVID lows…

Source: Bloomberg

DO NOT BLAME THE WEATHER! It’s January – we know there are weather issues and that should be more than ‘priced-in’ on a seasonal adjustment basis.

Multi-family permits cratered to their lowest since Oct 2020. Permits for one-family homes edged higher after rising consistently throughout 2023

And multi-family starts were even worse, plunging from 489k SAAR to 314k SAAR – the lowest since May 2020 (when the economy was closed)…

The government’s report showed housing starts fell in all four of the nation’s regions, led by the Midwest and Northeast. The number of single-family homes completed plunged to the lowest level since May 2020.

They built it, but no one came… the inventory of new houses for sale remains elevated and suggests builders may be cautious about beginning new projects.

Don’t expect Permits to be reaccelerating anytime soon as mortgage rates have started to rise once again…

Source: Bloomberg

Which is not good news for CPI either as it suggests there is little rent relief coming soon.

end

PPI is a forerunner of future inflation. PPI surges as service costs soar. Not good for the USA who are thinking of reducing interest rates in May

(zerohedge)

Producer Prices Surged In January As Services Costs Soared

FRIDAY, FEB 16, 2024 – 08:42 AM

After the hotter-than-expected CPI (which has been shrugged off entirely by the stock market), Producer Prices were expected to rebound very modestly MoM but continue to slow on a YoY basis in January. Instead, like CPI, it re-accelerated with headline rising 0.3% MoM (+0.1% MoM exp), which left PPI up 0.9% YoY (down from December but hotter than the +0.6% exp)…

Source: Bloomberg

The picture was even worse under the hood with PPI ex food and energy up 0.5% MoM (vs +0.2% prior and +0.1% exp) and ex-food, energy, and trade up 0.6% MoM (vs +0.1% exp).

This was the biggest ‘beat’ for Core PPI since Jan 2021…

In fact, core PPI reached a new record high (reminder, disinflation does not mean lower prices), now up 17.4% since Biden was elected…

Services PPI soared MoM, and energy continues to be a driver of deflation (but is losing its power)…

Source: Bloomberg

And on a YoY basis, Services PPI is also re-accelerating (+1.47% from +1.14%). Energy continues to be the deflationary driver…

Source: Bloomberg

This is not good news for the disinflationistas. And it will stop President Biden’s narrative that ‘prices are coming down’…

END

US Banks Saw $65BN Deposit Flight Last Week, Loan Volumes Shrank

FRIDAY, FEB 16, 2024 – 04:40 PM

Having seen The Fed’s QT appear to stall in February, as Reverse Repo liquidity withdrawal accelerates, all eyes are once again back on the situation on bank’s balance sheets and how deposits are standing up (‘adjusted’ by The Fed’s magical seasonals).

Source: Bloomberg

And after the prior week’s miraculous surge in deposits (again, according to The Fed), last week saw total bank deposits (seasonally-adjusted) drop $57BN – the biggest weekly drop since October…

Source: Bloomberg

This data is from the week when Regional bank shares shit the bed thanks to NYCB…

Source: Bloomberg

Interestingly, on a non-seasonally-adjusted basis, total bank deposits declined about the same as SA -$58BN (and are down $180BN YTD)…

Source: Bloomberg

And, excluding foreign banks, domestic deposits dropped $52BN SA (Large Banks -$40BN, Small Banks -$12BN), and tumbled $65BN NSA (Large Banks -$57BN, Small Banks -$$8BN)

Source: Bloomberg

As the chart above shows, on an NSA basis, domestic banks have only seen one week of inflows in 2024.

As one might expect, loan volumes shrank during that week by just over $9BN (Large banks -$4.6BN, Small banks -$4.4BN)…

Source: Bloomberg

And finally, as a reminder – despite the rebound off the lows again 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

REVERSE REPO LOST ANOTHER 82 BILLION DOWN TO 493: ON TARGET FOR END OF MARCH

Reverse Repo Liquidity Plunges Below Key Level As Fed’s QT Stalls

THURSDAY, FEB 15, 2024 – 04:40 PM

After two big weekly inflows, money market funds saw very modest outflows last week (-$4.3BN), but still hold above $6 trillion, just barely off the record highs…

Source: Bloomberg

In a breakdown for the week to Feb. 14, government funds – which invest primarily in securities like Treasury bills, repurchase agreements and agency debt – saw assets fall to $4.882 trillion, a $11 billion decline.

Prime funds, which tend to invest in higher-risk assets such as commercial paper, meanwhile, saw assets rise to $1.013 trillion, a $6.55 billion increase.

The outflows were all institutional (-$5.3BN) while Retail funds saw a $1BN inflow…

Source: Bloomberg

The Fed’s balance sheet expanded for the second straight week (+$2.6BN) and has risen in 4 of the last 6 weeks…

Source: Bloomberg

After a big drop at the end of January, The Fed’s QT has stalled in February (that is a a tiny $155 million decline in two weeks)…

Source: Bloomberg

This is the smallest two-week decline in The Fed’s Securities book…

Source: Bloomberg

Of course, The Fed would not stop QT without a statement and this ‘stall’ in its selling down its book is likely more of a technical event related to settlements and timing.

Nevertheless, it is worth paying close attention to, given the facts below.

Bank reserves at The Fed declined modestly last week as US equity market capitalization remains significantly decoupled…

Source: Bloomberg

Banks usage of The Fed’s bailout facility is flat near record highs around $165BN since it cut them off from their free-money arb…

Source: Bloomberg

And finally, the much-needed source of liquidity at The Fed’s Reverse Repo facility plunged ($82BN) back below $500BN (to $493BN) for the first time since June 2021…

Source: Bloomberg

This was the biggest non-month-end drop since October and quite a shock as RRP usage had been relatively stable recently. As Curvature’s Scott E.D. Skyrm noted:

“It’s an even greater surprise given the soft funding. RRP volume tends to drop less when GC rates are low because the 5.30% RRP rate is more competitive with market rates.”

So, this smells like some more desperate funding needs.

As a reminder, The Treasury Borrowing Advisory Committee – a panel of investors, dealers and other market participants that regularly counsels the department – noted that while most expect RRP balances to run down to zero, there are some looking for a “sustained low level” of usage, in the $200 billion to $300 billion range.

The importance of RRP levels was noted by Dallas Fed President Lorie Logan, who said in January the central bank should slow its balance sheet runoff – a process known as quantitative tightening, or QT – as reverse repo balances approach a low level.

All of which means we are right on cue for March madness… as BTFP matures and banks are forced to fund their $160BN hole through the discount window.

TUCKER CARLSON

III USA ECONOMIC COMMENTARIES

Today In CRE’s Collapse: Philadelphia’s 1515 Market Put Into Special-Servicing With $59.4 Million Left On Mortgage

THURSDAY, FEB 15, 2024 – 06:00 PM

Another day, another city, another collapse in the commercial real estate market.

This week the property in question is a 20 story building located at 1515 Market St. in Philadelphia, which Philadelphia Business Journal notes has “joined a growing list” of distressed office properties in the city.

Almost $60 million in debt backed by the building was moved to special servicing in December, the report says. Owner Accesso Partners, based in Florida, has a $59.4 million balance on the building, which it acquired in 2014 for $85 million.

The loan is set to mature in January 2025, the report notes. It was originated by J.P. Morgan and has since been converted into a commercial mortgage backed security (CMBS) and sold.

It is one of several buildings within just blocks of Philadelphia City Hall, located in dead-center city, that have been transferred to special servicing over the last 9 months.

Accesso told PBJ that it had asked for the loan to be transferred to special servicing so it could negotiate an extension. And if you believe that one, we have some real estate in Alaska we’d like to sell you…

The building houses Temple University’s Center City campus, which has been the building’s flagship tenant since 2001. It extended its lease in 2022 for 5 years, the report notes. It covers more than 130,000 sq. feet and two floors.

However, no other tenants have more than 16,000 feet.

The building generated about $6.6 million in net operating income when the loan was written in 2014, however that number has now fallen to under $4.4 million in 2022. Like many other places across the U.S. economy, revenue has fallen while interest expense has risen as a result of rate hikes.

end

House Refuses To Pass Another Shutdown Stopgap As Centrists Craft Pared-Down Ukraine Package

FRIDAY, FEB 16, 2024 – 03:00 PM

The #3 Republican in the House on Thursday said that the chamber will not pass another temporary spending bill which would avert a partial government shutdown when the next deadline expires on March 1. A second tranche of funding for US agencies runs out on March 8.

“You are not going to get another continuing resolution out of our conference,” said Rep. Tom Emmer (R-MN), in an interview on Bloomberg Television.

Emmer’s comments came as the House left Washington for a two-week recess until Feb. 28, just days before the first deadline.

That said, Emmer did seem hopeful that a shutdown could be averted with several upcoming spending bills just ahead of the deadline.

“When we come back the key is what are the packages that are put on the floor,” he said. “We should be there before the first deadline of March 1.”

Those comments echo those of Rosa DeLauro, the top Democrat on the House spending panel, earlier Thursday. She also said talks were making progress. But DeLauro added that conservative demands for policy changes to be attached to the spending bills continue to be a problem. Conservatives have demanded many of these so-called riders including banning abortion drugs and making changes to immigration. –Bloomberg

According to Emmer, the White House is to blame for refusing to open new border security talks with Speaker Mike Johnson in an effort to unlock billions in Ukraine aid, and that the bipartisan Senate border deal passed last week was a “non-starter” for Republicans.

asdf

‘Centrists’ Take Another Bite at the Apple

After Speaker Johnson rejected a Senate-passed $95 billion national security package, a group of ‘centrist’ House lawmakers on Friday unveiled a pared down ‘mini-me’ version of the bill – as opposed to trying to pass a ‘clean’ border security bill on its own, and then protect the borders of other nations.

“This is a really good piece of legislation. It’s pared-down. It’s airtight. There’s really not a whole lot of area that anyone can criticize on this,” said Rep. Brian Fitzpatrick (R-PA) in a statement to reporters before releasing the text of the proposal. “And it’s bipartisan. It’s the only bipartisan solution in the House.”

The $66.3 billion bipartisan package, titled the “Defending Borders, Defending Democracies Act,” has six initial co-sponsors, equally split between Democrats and Republicans. In addition to Fitzpatrick, the Republican backers are Reps. Don Bacon of Nebraska and Mike Lawler of New York. The Democrats are Reps. Jared Golden of Maine, Ed Case of Hawaii and Marie Gluesenkamp Pérez of Washington.

The release of the bill comes as the House leaves for a nearly two-week recess. Fitzpatrick is a co-chair of the Problem Solvers Caucus, a bipartisan group of centrist lawmakers, but he said the legislation wasn’t a Problem Solvers product –NBC News

Out of the $66 billion, $47.7 would go to Ukraine, $10.4 would go to Israel, $4.9 billion would go to ‘shore of the defense of allies in the Indo-Pacific,” and $2.4 billion would go back to US Central Command operations, including the conflict in the Red Sea.

Oh, and it ‘borrows language’ from the House GOP tough border bill, H.R. 2.

So no actual money for the US border – but ‘language’ that could strengthen it, if followed.

That includes bringing back the “Remain in Mexico” policy for one year, requiring some migrants, including asylum-seekers, to wait in Mexico while their claims are adjudicated. President Joe Biden ended the policy, which human rights groups said led migrants to face kidnappings and violence, when he took office, and the Supreme Court upheld the move.

“That’s something we’ll have to work out,” Bacon said. “I’m not on the foreign — I’m not an ambassador, so I have no idea how they’re going to respond. Our guys want something that makes a difference on the border.”

Fitzpatrick said it’ll be the Biden administration’s job to find a way to make Mexico comply.

And there you have it – they don’t even know how the border provisions would pan out.

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

END

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

END

SWAMP STORIES

“Manifest Injustice” – Judge Smirks After Fining Trump $364 Million For Alleged Fraud

BY TYLER DURDEN

FRIDAY, FEB 16, 2024 – 03:07 PM

New York Judge Arthur Engoron has ordered former President Donald Trump to pay $364 million for allegedly defrauding banks in order to acquire loans and other benefits – loans which the banks themselves testified they were satisfied with after doing their own due diligence.

Trump is also barred “from serving as an officer or director of any New York corporation or other legal entity in New York for a period of three years,” while his sons have been barred from serving as New York executives for two years.

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

New York Attorney General Letitia James had sought $370 million from Trump, his company, and its top executives for what she claimed was “repeated and persistent fraud” – which included allegations of falsifying records and financial statements to the tune of as much as $2.2 billion.

Trump maintains that his financial statements to banks were conservative, and has called the case a “fraud on me.”

“This is a case that should have never been brought, and I think we should be entitled to damages,” Trump said on Jan. 11.

Following Friday’s decision, Trump’s attorneys hit back – calling it “manifest injustice” in a statement.

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

The months –long civil trial included testimony from Trump and his oldest children. The former president was combative in his day on the stand, blasting James as a “hack” and calling the judge “extremely hostile.”

Trump repeatedly complained about Engoron before and throughout the trial, and the judge slapped him with a partial gag order after he started blasting the judge’s law clerk as well. Trump’s complaints led to a flood of death threats against the clerk, as well as Engoron, court officials said, and Trump was fined $15,000 for twice violating the order. -NBC News

During the trial, Deutsche Bank executive David Williams, who directly worked on at least one of several loans obtained by Trump over several decades, testified that it’s “atypical, but not entirely unusual” for a bank to internally slash a client’s stated asset values by 50% and approve a loan anyway, as they did with Trump, Bloomberg reported in November.

“It just depends on the circumstances,” said Williams, a managing director at the bank.

Deutsche Bank, which loaned hundreds of millions of dollars to Trump for properties in Miami, Chicago and Washington, cut his stated net worth in 2011 and 2012 from about $4.2 billion to $2.3 billion, according to internal bank credit memos. The same documents indicated the bank approved the loans anyway because it expected them to generate a profit based on Trump’s history of successful developments and other criteria.

Trump, who denies wrongdoing and claims the case is politically motivated, is calling to the stand this week four current and former Deutsche Bank employees — including the family’s former private banker Rosemary Vrablic — as part of his defense case, seeking to flip the script on the state’s version of events. -Bloomberg

The testimony undermined AG James’ premise, that Trump defrauded the German bank. But of course, none of that matters to Engoron – while Trump’s Martyr status just intensified.

Expect this decision to be reflected in upcoming polls.

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

END

Fani Wiped From Fulton Cross-Exam After Shower-Shi**ing Testimony

FRIDAY, FEB 16, 2024 – 03:19 PM

Perhaps the biggest takeaway from yesterday’s testimony from Fulton County DA Fani Willis and her (now outed) secret lover she paid at least $600K to be special counsel was a national exhibition of the quality of people going after Donald Trump.

For starters, Willis exploded in anger on the witness stand Thursday, accusing defense attorney Ashleigh Merchant of lying about her relationship with Nathan Wade.

“Let’s be clear, because you’ve lied,” Willis yelled, waving documents around. “It is a lie! It is a lie!”

“You think I’m on trial. I’m not on trial no matter how hard you try to put me on trial,” Willis continued.

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

She also claimed that she wasn’t a hostile witness, and that Merchant’s interests were “contrary to democracy.”

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

Willis may have also admitted to campaign fraud while discussing the copious amounts of cash she makes it a habit of keeping on hand (which she claims – without evidence, she used to reimburse Nathan Wade for their romantic getaways).

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

She claimed that She ‘don’t do my friends like that,’ and always pays them back – so you see, she totally didn’t receive a ‘benefit’ after paying Wade with taxpayer funds to go after Trump.

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

And so it’s no surprise that Fani’s Friday testimony was nixed from today’s schedule. As Just the News reports;

The second day of the hearing regarding Fulton County District Attorney Fani Willis’ relationship with special prosecutor Nathan Wade began on Friday with the remaining witnesses expected to testify, as Willis was not brought back to the witness stand.

The hearing started on Thursday, with Willis testifying as a defense witness that she didn’t know she was required to disclose her romantic relationship with Wade to the county. Willis was originally supposed to be cross-examined by her prosecution team on Friday, but the prosecution chose to not bring her back to testify.

Earlier in the week, judge Scott McAfee suggested that Willis could be disqualified in her case against Trump.

“I think it’s clear that disqualification can occur if evidence is produced demonstrating an actual conflict or the appearance of one, and the filings submitted on this issue so far have been presented a conflict in the evidence that cannot be resolved,” said the judge.

Guess we won’t get to see her allegedly backwards dress again. (Ok, it’s not the same dress, but what a mess!).

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

Dems’ best chess move is to nuke Fani and lag on her replacement so Trump’s trial is delayed an his guilt is an open question going into his next term, should he win once again. Also, do not google ‘waffle stomp.’

KING REPORT

The King Report February 16, 2024 Issue 7182

Independent View of the News

US Economic Data Released on ThursdayJan Retail Sales -0.8% m/m, -0.2% exp., prior revised to 0.4% from 0.6$Jan Retail Sales Ex-Autos -0.6% m/m, +0.2% exp., prior 0.4%Jan US Retail Sales Ex-Autos & Gas -0.5%, +0.2% exp., 0.6% priorFeb Empire Mfg -2.4, -12.5 exp., -43.7 priorFeb Phil Fed Business Outlook 5.2, -8.1 exp., -10.6 priorInitial Jobless Claims 212k, 220k exp., 220k prior revised from 218kContinuing Claims 1.895m, 1.88m exp., 1.865m prior revised from 1.871mJan Import Price Index 0.6% m/m and -1.3% y/y, 0.0% & -1.3% exp.Jan Export Price Index 0.8% m/m -2.4% y/y, -0.1% m/m exp.Jan Industrial Production -0.1% m/m +0.2% exp., prior 0.0% revised from 0.1%Jan Mfg. Production -0.5% m/m, 0.0% exp., 0.1% priorJan Capacity Utilization 78.5%, 78.8% exp., 78.7% prior revised from 78.6%Dec Business Inventories 0.4% as expected, -0.1% priorFeb NAHB Housing Market Index 48, 46 exp., 44 prior
The NY Fang+ Index declined sharply in early trading.

Nvidia is too ‘frothy’ and its price will fall from unsustainable heights, analyst says
The stock has a price-to-earnings ratio of 97, far more than all of its trillion-dollar peers.
    “I think the price that it’s at right now is very, very, very hard to maintain,” Cleo Capital’s Sarah Kunst said in a CNBC interview… (NVDA hit -1.6% near 10:00 ET and then bounced.)
https://markets.businessinsider.com/news/stocks/nvidia-stock-ai-tech-bubble-artificial-intelligence-investing-dotcom-crash-2024-2

Tesla soared as much as 3.6% because Morgan Stanley reiterated its overweight ranking.

HSBC downgraded Snowflake to hold from buy. It declined as much as 2.5%.

Alphabet sank as much as 3.8% on a report that OpenAI is developing a web search product that would compete with Google.

ESHs vacillated, in a very tight range, between miniscule gains and losses during early Nikkei trading. They broke down after 19:00 ET and hit a daily low of 5011.00 at 20:16 ET. After a rally back to unchanged for the day, ESHs resumed trading in a tight range until they exploded higher at 1:45 ET on buying for the European opening, and the pump & dump. ESHs hit a daily high of 5029.50 at 3:30 ET. The dump pushed ESHs down to 5022.25 at 5:54 ET.

ESHs then traded sideways, in a 5-handle range, until they commenced gyrating in a very large range after the 8:30 ET release of beaucoup US economic data. There were 9 large ESH swings before noon.

After a Noon Balloon, ESHs exploded high on a determined manipulation to squeeze expiring February call options. The NY Fang+ Index turned positive. ESHs hit a high of 5048.50 at 14:56 ET. After a retreat to 5038.00 at 15:24 ET, the usual late manipulation drove ESHs to 5047.25 at 16:00 ET.

@TaviCosta: The chart below gives us a valuable historical context to the recent run-up in US stocks. The correlation (94%) says it all. It is remarkable the eerie similarities between today’s environment and the period that led to the Great Depression. (Chart of DJIA 1929 and now at link)  https://twitter.com/TaviCosta/status/1757868975822721154

@Ch_Trebesch: I am excited to present first results of our big new project “Budgets and Geopolitics, 1870-2022” at the @MunSecConf. We show: Military spending in G7 countries has fallen to historic lows, while social spending has risen. We clearly live in an “age of butter,” not guns… In sum, we live in dangerous times, but military budgets in the West have not responded to these developments (or are doing so very slowly).   https://t.co/PUAnJSYjqF

Positive aspects of previous session
The manipulation for the expiration of February calls continued
Bonds rallied modestly

Negative aspects of previous session
Fangs were mixed

Ambiguous aspects of previous session
What 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]: 2020.63
Previous session S&P 500 Index High/Low: 5032.72; 4999.44

You know all that hoopla, hope, and hype over AI on The Street? Stanford AI researchers have found AI created law briefs have legal “hallucination rates range from 69% to 88%.”…

Hallucinating Law: Legal Mistakes with Large Language Models are Pervasive – A new study finds disturbing and pervasive errors among three popular models on a wide range of legal tasks.
    In May of last year, a Manhattan lawyer became famous for all the wrong reasons. He submitted a legal brief generated largely by ChatGPT. And the judge did not take kindly to the submission. Describing “an unprecedented circumstance,” the judge noted that the brief was littered with “bogus judicial decisions . . . bogus quotes and bogus internal citations.”  The story of the “ChatGPT lawyer” went viral as a New York Times story, sparking none other than Chief Justice John Roberts to lament the role of “hallucinations” of large language models (LLMs) in his annual report on the federal judiciary…
    In a new preprint study by Stanford RegLab and Institute for Human-Centered AI researchers, we demonstrate that legal hallucinations are pervasive and disturbing: hallucination rates range from 69% to 88% in response to specific legal queries for state-of-the-art language models. Moreover, these models often lack self-awareness about their errors and tend to reinforce incorrect legal assumptions and beliefs. These findings raise significant concerns about the reliability of LLMs in legal contexts, underscoring the importance of careful, supervised integration of these AI technologies into legal practice…
    Responsible integration of AI in legal practice will require more iteration, supervision, and human understanding of AI capabilities and limitations. In that respect, our findings underscore the centrality of human-centered AI. Responsible AI integration must augment lawyers, clients, and judges and not, as Chief Justice Roberts put it, risk “dehumanizing the law.”
https://hai.stanford.edu/news/hallucinating-law-legal-mistakes-large-language-models-are-pervasive

State Street Withdraws From $68 Trillion Climate Investing Group – BBG 9:45 ET
Finance firms face continued political backlash over ESG

JPMorgan Asset Management Quits $68 Trillion Climate Group – BBG 9:17 ET

JPMorgan, BlackRock drop out of massive UN climate alliance in stunning move https://t.co/L5sUmjY6IH

80% of Americans test positive for chemical (a harmful pesticide called chlormequat) found in Cheerios, Quaker Oats that may cause infertility, delayed puberty: study https://trib.al/79fxkIL

Delta passengers showered with maggots after they fell from plane’s overhead compartment https://trib.al/92pbPzT

The Taiwan Taiex Index hit an all-time high. What about that looming invasion by China?

@CNBC: Jeff Bezos sells more than $2 billion in Amazon stock for third time this month

Fed Balance Sheet: +$2.574B; Reserves at Fed: -$58.378B  https://www.federalreserve.gov/releases/h41/20240215/

Today is February option expiration. A determined and robust manipulation to squeeze expiring February calls appeared from midday on Wednesday through yesterday’s close.  The usual suspects, barring news, will try to keep the expiry squeeze going; but history shows that when there is a sizable Weird Wednesday manipulation that continues into Thursday, Friday’s action is choppy.

ESUs are -4.50 and USHs are -5/32 at 20:22 ET on this: (Atlanta Fed Pres) Bostic Says May Take ‘Some Time’ to Know Inflation Heading to 2% – BBG 18:53 ET (Bostic had been a dove)

US markets are closed on Monday (Presidents’ Day)

Expected Economic Data: Jan PPI 0.1% m/m & 0.6% y/y, Core PPI 0.1% m/m & 1.6% y/y; Jan Housing Starts 1.458m, Permits 1.514m; Feb UM Sentiment 80, Current Conditions 82.5, Expectations 77, 1-year Inflation 2.9%, 5-10-year Inflation 2.8%

Fed Speakers: Richmond Fed Pres Barkin 8 ET, Fed Gov. Barr 9:10 ET, SF Fed Pres Daly 12:10 ET

S&P Index 50-day MA: 4804; 100-day MA: 4584; 150-day MA: 4549; 200-day MA: 4476
DJIA 50-day MA: 37,679; 100-day MA: 35,866; 150-day MA: 35,527, 200-day MA: 35,081
(Green is positive slope; Red is negative slope)

S&P 500 Index ( 5029.73 close) – Trender trading model and MACD for key time frames
Monthly: Trender and MACD are positive – a close below 4314.46 triggers a sell signal
Weekly: Trender and MACD are positive – a close below 4690.11 triggers a sell signal
Daily: Trender and MACD are positive – a close below 4930.47 triggers a sell signal
Hourly: Trender and MACD are positive – a close below 4990.93 triggers a sell signal

White House rejects Johnson’s requests to meet with Biden: ‘What is there to negotiate?’
(Speaker) Johnson said he wants to talk with Biden on border security and foreign aid.
https://abcnews.go.com/Politics/johnson-meet-biden-border-foreign-aid-white-house/story?id=107233773

Is Joe so addled that his handlers will not allow him to meet with THE SPEAKER of THE HOUSE?

@RNCResearch: BIDEN: “Wanna get a picture?” JILL, ED.D.: “No — we did.” *shuffles back inside*
https://twitter.com/RNCResearch/status/1758170556166197692

White House wrote Garland objecting to Hur report before publication, documents show
Prior to the report’s release, the White House was permitted to review a draft…
https://justthenews.com/government/federal-agencies/white-house-wrote-garland-objecting-hur-report-publication-documents

CIA “Cooked the Intelligence” to Hide That Russia Favored Clinton, Not Trump in 2016, Sources Say – The Russians didn’t fear a Hillary Clinton presidency. “It was a relationship they were comfortable with,” CIA analysts believed…
    Former CIA Director John Brennan and the ICA authors “embellished” their conclusion by upgrading unreliable sources to reliable, the source said… the CIA and other agencies, found U.S. intelligence analysts had “a lot of stuff about the Russians calling Trump ‘mercurial,’ ‘unreliable,’ and ‘not steady.’”
     On the other hand, Russians apparently saw Hillary as “manageable and reflecting continuity. It was a relationship they were comfortable with….there was no real evidence that Russia supported Trump. They were trying to make this bizarre case.”…
https://twitter.com/shellenberger/status/1758216832576819363

Hillary sold ~20% of the US’s uranium refining capacity to Russia, and Russia gave beaucoup millions of dollars to Clinton-related initiatives and millions to Slick Willie for speaking engagements.

NYT: Cash Flowed to Clinton Foundation Amid Russian Uranium Deal   April 23, 2015
Beyond mines in Kazakhstan that are among the most lucrative in the world, the sale gave the Russians control of one-fifth of all uranium production capacity in the United States…
    Among the agencies that eventually signed off was the State Department, then headed by Mr. Clinton’s wife, Hillary Rodham Clinton… As the Russians gradually assumed control of Uranium One in three separate transactions from 2009 to 2013, Canadian records show, a flow of cash made its way to the Clinton Foundation…
https://www.nytimes.com/2015/04/24/us/cash-flowed-to-clinton-foundation-as-russians-pressed-for-control-of-uranium-company.html

@YossiGestetner: The Collusion Investigation was part of the coverup because it kept Trump in a chokehold without an ability to sort out the 2016 abuses thanks to @jeffsessions remaining recused and @RodRosenstein letting Mueller run amok for almost two years.

Special Counsel Mueller spent two years and over $40 million on Russia Collusion. He employed 40 federal agents plus 19 DoJ attorneys, and either missed or ignored the evidence that US intel did the deed.

Special Counsel Durham also either missed or ignored the evidence that US intel did dirty on Trump. What are the odds that two SCs with huge staffs and beaucoup budgets would miss what reporters found?  It’s time for the House Judiciary Committee to subpoena Mueller, Weismann, Durham, et al!

Special counsel charges ex-FBI informant with lying about Hunter Biden’s dealings with Burisma
Special counsel David Weiss on Thursday charged ex-FBI informant Alexander Smirnov over allegedly lying about the Biden family’s involvement with Burisma Holdings…
https://justthenews.com/government/federal-agencies/special-counsel-charges-ex-fbi-informant-lying-about-hunter-bidens

NY Post’s @mirandadevine: If this paid, long-term, trusted FBI confidential human source really did lie to his FBI handler when he alleged that Joe and Hunter Biden each had received a $5m bribe from Burisma, then he deserves what he gets. But:
1. Why didn’t Weiss investigate the CHS’ allegations in the June 2020 FD-1023 when the Pittsburgh USA was trying to brief his office.
2. Why hide the FD-1023 from the investigators?
3. Why only investigate it after he becomes Special Counsel?
4. Why did the FBI not investigate the CHS’ earlier allegations in the 2017 FD-1023.
5. Why did the FBI fight so hard to keep both FD-1023s from congressional oversight?
6. What does it say for the FBI’s CHS management?

How many people have been charged or prosecuted for lying about Trump & Russia?
@DC_Draino: Credible source tells me @SpeakerJohnson has been fighting to release the J6 tapes but is being stopped by Mitch McConnell. Mitch is claiming his Sergeant at Arms is against the release, but my source says that’s a lie. Mitch needs to come clean – is he blocking release of the J6 tapes?

Is he protecting against disclosure of his role in minimizing security that day?
CBS sparks outrage over firing of Catherine Herridge, ‘lone voice’ at network probing Hunter Biden laptop https://trib.al/zMNnHd1

House investigators probing whether Joe Biden used bank account to take money from grandkids
James Comer says information from witness important new clue, could lead to subpoena of president’s bank records. https://justthenews.com/accountability/political-ethics/house-investigators-probing-whether-joe-biden-used-bank-account

Jordan presses Biden ghostwriter for docs on memoirs after special counsel report
https://justthenews.com/government/congress/jordan-presses-biden-ghostwriter-docs-memoirs-after-special-counsel-report

@greg_price11: You literally cannot make this up. Biden’s DOJ has filed a lawsuit against the state of Tennessee because they made it illegal for prostitutes to knowingly spread HIV. They are saying it’s a violation of the Americans with Disabilities Act.

Migrants busted in brutal beating of NYPD cops in Times Square are members of bloodthirsty ‘Tren de Aragua’ gang: feds    https://nypost.com/2024/02/15/us-news/migrants-busted-in-brutal-beating-of-nypd-cops-in-times-square-are-members-of-bloodthirsty-tren-de-aragua-gang-feds/

Migrant Gang Rape of Child in Italy Prompts CNN to Worry About “Far-Right (exploiting it)
https://www.zerohedge.com/geopolitical/migrant-gang-rape-child-italy-prompts-cnn-worry-about-far-right

@TomPelissero: Kansas City Police Chief Stacey Graves says their investigation of the mass shooting at the Chiefs parade has shown no nexus to terrorism or homegrown extremism. “This appeared to be a dispute between several people that ended in gunfire.” 23 victims ages 8 to 47. One deceased.

Put the beer down, Travis – it’s not IF Taylor dumps you… but WHEN: After the coach bashing, drunken disorder and tone-deaf post-shooting selfies, MAUREEN CALLAHAN says image-obsessed Swift will now shake off brand Kelce    https://www.dailymail.co.uk/tvshowbiz/article-13088975/Taylor-Swift-dump-Travis-Kelce-drunk-shooting-Kanas-City-Chiefs-parade-selfie-MAUREEN-CALLAHAN.html

GREG HUNTER

America’s 2-Million Terrorists, Fani Willis Done, Economy Tanking

America’s 2-Million Terrorists, Fani Willis Done, Economy Tanking

By Greg Hunter On February 16, 2024 In Weekly News Wrap-Ups4 Comments

By Greg Hunter’s USAWatchdog.com (WNW 621 2.16.24)

Nobody in the Lying Legacy Media (LLM) is talking about America’s 2 million terrorists that have crossed the US boarder according to a source at National Sherriff’s Association. It is reported that military age men sometimes found with weapons and explosives have been caught or spotted. One Ohio Sheriff, Richard Jones had one on one time with FBI Director Chris Wray, and he was told “More red flags are going off than before 911.” Why is this not a top story on every newscast and newspaper? Why do you think I call the so-called “news” the Lying Legacy Media”? Two million terrorists in US of A is a lie by omission of huge proportions. You need to get ready for violence on American soil. After a meeting with FBI Director Wray, Sheriff Jones said, “It not a matter of if, but a matter of when.” You have been warned.

Fani Willis, the Georgia DA prosecuting President Donald Trump for multiple felony RICO charges for complaining about obvious massive election fraud in Georgia is about to be booted off her case. There are many allegations of misconduct, including, but not limited to, sleeping with her subornment and financially benefitting from prosecuting Trump. Willis, at the very least, looks like she will be disqualified from prosecuting Trump. She also might face disbarment and maybe even jail time for alleged crimes.

If you are watching the record high stock market you probably think the economy is in very good shape. You would be wrong, and many people are being lulled into a state comfort when defensive action is looking more appropriate. Former Chrisler and Home Depot CEO Bob Nardelli is warnings of “mass layoffs” coming and a “tremendous (downward) shift in the economy.” You might want to take some risk off the table.

There is more in the 45-minute newscast.

Join Greg Hunter founder of USAWatchdog.com as he talks about these stories and more in the Weekly News Wrap-Up for 2.16.24.

(To Donate to USAWatchdog.com Click Here)

After the Wrap-Up:

World renowned geopolitical and financial cycle analyst Martin Armstrong will give us all a look into the future as to what he and his famous Socrates program sees coming in 2024.

SEE YOU ON MONDAY

SHANGHAI GOLD (USD) FUTURES – QUOTES

GOLD: NUMBER OF NOTICES FILED FOR FEB/2024. CONTRACT: 219 NOTICES FOR 21,900 OZ or 0,6811 TNNES

total notices so far: 18,617 contracts for 1,861,700 Oz (57.906 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

The Gold/Silver Ratio Says Silver’s Still Cheap

4. OTHER GOLD COMMENTARIES/PODCASTS

AGNICO EAGLE REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS – RECORD QUARTERLY AND ANNUAL GOLD PRODUCTION AND FREE CASH FLOW; RECORD MINERAL RESERVES INCREASED 10.5%; UPDATED THREE-YEAR GUIDANCE

Corn Drops To 3-Year Low As Supplies Expected To Surge To 1987 Levels

Stocks Set To Make It A Record 15 Weeks Higher Out Of 16 As Tech Surge Goes On

Equities firmer & NQ leads after strong AMAT earnings, Yen underperforms and Bonds lower; US PPI due – Newsquawk US Market Open

EUROPEAN TRADE

EQUITIES

FX

FIXED INCOME

COMMODITIES

GEOPOLITICS

CRYPTO

APAC TRADE

EU Demands Hungary, Poland, & Slovakia Open Their Borders To Cheap, Poor-Quality Ukrainian Grain

Ukraine no longer needs help but benefits from the EU’s open market

Pro-Palestinian groups file legal action against German politician who expressed support for IDF’s Gaza op

Egypt Erects 8-Square-Mile Walled Enclosure In Sinai Desert For Rafah Refugee Spillover

Gazan riots erupt near Rafah’s border with Egypt, fire breaks out

Channel 12 reported the riots broke out after a Gazan teen was shot dead by Hamas policemen while attempting to gather humanitarian aid.

Riots at Rafah Crossing after Gaza teen trying to grab aid shot dead by Hamas

Footage shows chaos at border with Egypt as family members of the victim said to start fires at the scene

More than 30 of UNRWA’s employees actively participated in October 7

Gallant told reporters that Israel has intelligence that more than 30 of the organization’s employees actively participated in the murder spree, assisting in the kidnapping of civilians and soldiers.

Two killed, two seriously wounded in shooting attack in southern Israel

Police were conducting searches in the area to ensure there were no other terrorists or accomplices on the loose.

Kiryat Malachi deploys security teams at entrance to city

Death toll in shooting attack rises to 2

Netanyahu after Re’em attack: The murderers want to kill us all

Russian Opposition Leader Alexei Navalny Dies In Jail

Mr. Bean Was Right – And So Was Toyota

BRUCHA: The depraved animals like Bourla, Bancel, Sahin, Weissman et al., this type, coming now at your babies with the RSV vaccine, Injection of Beyfortus (nirsevimab, monoclonal antibody

against bronchiolitis caused by RSV), these beasts will not stop, they got an in so tell them ‘to hell with you’! stay away from my baby! fight

Someone help me/us PLEASE, someone tell me what these results show? You preening COVID vaccine experts, EXPLAIN these results! “children who had received DTP-only and no OPV (HR = 10.0 (2.61-38.6))

All-cause infant mortality after 3 months of age increased after introduction of these vaccines (HR = 2.12 (1.07–4.19)).” Researchers: ‘DTP is killing more children than diseases it targets’; B GATES?

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

Bitcoin & Black Gold Bid As Stagflation Fears Wreck 52-Year-Old Equity Win-Streak

Housing Starts Collapsed In January – Biggest MoM Decline Since COVID Lockdowns

Producer Prices Surged In January As Services Costs Soared

US Banks Saw $65BN Deposit Flight Last Week, Loan Volumes Shrank

Reverse Repo Liquidity Plunges Below Key Level As Fed’s QT Stalls

Today In CRE’s Collapse: Philadelphia’s 1515 Market Put Into Special-Servicing With $59.4 Million Left On Mortgage

House Refuses To Pass Another Shutdown Stopgap As Centrists Craft Pared-Down Ukraine Package

“Manifest Injustice” – Judge Smirks After Fining Trump $364 Million For Alleged Fraud

Fani Wiped From Fulton Cross-Exam After Shower-Shi**ing Testimony

America’s 2-Million Terrorists, Fani Willis Done, Economy Tanking

Share this:

Related

Leave a comment Cancel reply

Donate

Archive

Spot Gold

Spot Silver