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.

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Last Updated 27 Feb 2024 09:13:33 AM CT.

Market data is delayed by at least 10 minutes.

MONTH	LAST	CHANGE	PRIOR SETTLE	OPEN	HIGH	LOW	VOLUME	UPDATED
FEB 2024 SGUG4	–	–	2066.0	–	–	–	0	08:29:38 CT 27 Feb 2024
MAR 2024 SGUH4	–	–	2076.5	–	–	–	0	08:50:01 CT 27 Feb 2024
APR 2024 SGUJ4	2080.0	+3.6 (+0.17%)	2076.4	2078.9	2080.0	2078.9	36	08:50:01 CT 27 Feb 2024
MAY 2024 SGUK4	–	–	0.0	–	–	–	0	08:50:01 CT 27 Feb 2024
JUN 2024 SGUM4	–	–	2088.3	–	–	–	0	08:50:01 CT 27 Feb 2024
AUG 2024 SGUQ4	–	–	2088.9	–	–	–	0	08:50:01 CT 27 Feb 2024
OCT 2024 SGUV4	–	–	2089.5	–	–	–	0	08:50:01 CT 27 Feb 2024
DEC 2024 SGUZ4	–	–	2090.1	–	–	–	0	08:50:01 CT 27 Feb 2024
FEB 2025 SGUG5	–	–	0.0	–	–	–	0	08:50:01 CT 27 Feb 2024

About this Report

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

4: 15 PM ACCESS

*CANADIAN GOLD: $2,746.52 UP $2.50 CDN dollars per oz( * NEW ALL TIME HIGH 2,795.90 CDN DOLLARS PER OZ//DEC 1 2023)

*BRITISH GOLD: 1600.21 DOWN 1.75 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17 BRITISH POUNDS/OZ) OCT 2/2023

*EURO GOLD: 1871.65 DOWN 0.39 euros per oz //* (ALL TIME CLOSING HIGH: 1903.75 EUROS PER OZ//DEC 1.2023)

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EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: FEBRUARY 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,028.500000000 USD
INTENT DATE: 02/26/2024 DELIVERY DATE: 02/28/2024
FIRM ORG FIRM NAME ISSUED STOPPED

323 C HSBC 7
363 H WELLS FARGO SEC 50
661 C JP MORGAN 41
686 H STONEX FINANCIA 2

TOTAL: 50 50
MONTH TO DATE: 19,958

JPMorgan stopped 41/50 contracts.

FOR FEB/2024

GOLD: NUMBER OF NOTICES FILED FOR FEB/2024. CONTRACT: 50 NOTICES FOR 5000 OZ or 0.1555 TONNES

total notices so far: 19,958 contracts for 1,995,800 Oz (62 tonnes)

FOR FEBRUARY:

SILVER NOTICES 4 NOTICE(S) FILED FOR 20,000 OZ/

total number of notices filed so far this month : 1308 for 6,540,000 oz

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END

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

GLD

WITH GOLD UP $4.40//

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .87 TONNES OF GOLD FROM THE GLD

INVENTORY RESTS AT 826.94 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER UP 3 CENTS AT THE SLV//

HUGE CHANGES IN SILVER INVENTORY AT THE SLV: ANOTHER WITHDRAWAL OF .640 MILLION OZ FROM THE SLV/.

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 427.963 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A SMALL SIZED 122 CONTRACTS TO 145,766 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS TINY SIZED GAIN IN COMEX OI WAS ACCOMPLISHED DESPITE OUR FALL IN PRICE OF $0.44 IN SILVER PRICING AT THE COMEX ON MONDAY. WE HAD ZERO LONG LIQUIDATION AT THE COMEX SESSION WITH AGAIN SOME SHORT COVERING DESPITE THE PRICE OF SILVER FALLING BY A CONSIDERABLE AMOUNT. WE HAD A HUGE 954 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 ON A DAILY BASIS

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 MONDAY NIGHT: 954 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.

WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.44), BUT WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A HUGE SIZED GAIN OF 1375 CONTRACTS ON OUR TWO EXCHANGES DESPITE A MUCH LOWER PRICE.

WE MUST HAVE HAD:

A FAIR SIZED 385 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 30,000 OZ E.F.P. JUMP TO LONDON //NEW TOTAL LOWERS TO ; 6.985 MILLION OZ

//NEW STANDING FOR SILVER IS THUS 6.985 MILLION OZ

/ SMALL SIZED COMEX OI LOSS/FAIR SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 954 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED A HUGE 1112 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 18 days, total 11,177 contracts: OR 55.885 MILLION OZ (620 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 55.885 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 : 55.885 MILLION OZ.

RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 122 CONTRACTS DESPITE OUR LOSS IN PRICE OF SILVER PRICING AT THE COMEX//MONDAY.,. THE CME NOTIFIED US THAT WE HAD A FAIR EFP ISSUANCE CONTRACTS: 385 ISSUED FOR MAY AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS. WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR FEB. OF 3.535 MILLION OZ ACCOMPANIED BY FIRST DAY NOTICE OF 445,000 OZ EX. FOR RISK FOLLOWED BY TODAY’S 30,000 OZ E.F.P. JUMP TO LONDON //NEW TOTAL FALLS TO 6.985 MILLION OZ

NEW STANDING 6.985 MILLION OZ /// WE HAVE A HUGE GAIN OF 1375 OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE LOSS IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUMONGOUS SIZED 954 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS ( DESPITE PRICE OF SILVER FELL) . THE NEW TAS ISSUANCE MONDAY NIGHT (954) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .

WE HAD 4 NOTICE(S) FILED TODAY FOR 20,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A GOOD SIZED 3400 CONTRACTS TO 410,324 AND FURTHER FORM THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW CLOSER TO OUR ALL TIME LOW OF 390,000 CONTRACTS.

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

WE HAD A GOOD SIZED DECREASE IN COMEX OI ( 3400 CONTRACTS) WITH OUR $8.90 LOSS IN PRICE//MONDAY. 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 4,500 OZ QUEUE JUMP //NEW TOTAL OF GOLD STANDING ADVANCES TO: 64.398 TONNES // ALL OF THIS HAPPENED DESPITE OUR $8.90 LOSS IN PRICE WITH RESPECT TO MONDAY’S TRADING. WE HAD A SMALL SIZED LOSS OF 651 OI CONTRACTS (2.024) PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2794 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 410,324

IN ESSENCE WE HAVE A SMALL SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 651 CONTRACTS WITH 3400 CONTRACTS DECREASED AT THE COMEX// AND A FAIR SIZED 2749 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 651 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): FAIR SIZED 1635 CONTRACTS.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2749 CONTRACTS) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI (3400) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 651 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 4500 OZ QUEUE JUMP //NEW STANDING ADVANCES TO 64.398 TONNES. / 3) ZERO LONG LIQUIDATION // 4) FAIR SIZED COMEX OPEN INTEREST L;OSS/ 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: FAIR T.A.S. ISSUANCE: 1654 CONTRACTS//CONSIDERABLE SHORT COVERING AGAIN

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: 60,426 CONTRACTS OR 6,042,600 OZ OR 187.75. TONNES IN 18 TRADING DAY(S) AND THUS AVERAGING: 3357 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 18 TRADING DAY(S) IN TONNES 179.39 TONNES

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

THUS EFP TRANSFERS REPRESENTS 187.75/3550 x 100% TONNES 5.25% 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: 187.75 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 SMALL SIZED 122 CONTRACTS OI TO 145,766 AND CLOSER TO 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 385 CONTRACTS

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

MAY 385 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 385 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 990 CONTRACTS AND ADD TO THE 385 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A SMALL LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 263 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 1.315 MILLION OZ

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

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

TUESDAY MORNING/MONDAY NIGHT

SHANGHAI CLOSED UP 38.46 PTS OR 1.29% //Hang Seng CLOSED UP 156.06 PTS OR 0.94% / Nikkei CLOSED UP 5.83 PTS OR .17%//Australia’s all ordinaries CLOSED UP 0.18% /Chinese yuan (ONSHORE) closed DOWN 7.1979 //OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2108 /Oil UP TO 77.39 dollars per barrel for WTI and BRENT UP AT 82.25/ Stocks in Europe OPENED MOSTLY ALL GREEN EXCEPPT SPAIN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3 CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 3400 CONTRACTS TO 410,324 WITH OUR LOSS IN PRICE OF $8.90 WITH RESPECT TO MONDAY TRADING. ACCORDING TO OUR EXPERT ANDREW MAGUIRE, THE LOW COMEX GOLD OI WAS DUE TO THE CRIMINAL BANKS LEAVING THE GOLD ARENA AND USING THEIR “SKILLS” ON THE NEW FUTURES OF BITCOIN. WITH CENTRAL BANK BUYING PHYSICAL GOLD IN RECORD NUMBERS, IT WOULD BE FUTILE TRYING TO SELL NAKED CALLS AGAINST GOLD AS CB’S WOULD JUST TURN AROUND AND TAKE DELIVERY.

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 2749 EFP CONTRACTS WERE ISSUED: : APRIL 2749 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2749 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 651 CONTRACTS IN THAT 2749 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR SIZED LOSS OF 3400 COMEX CONTRACTS..AND THIS LOSS ON OUR TWO EXCHANGES HAPPENED WITH OUR FALL IN PRICE OF $8.90 MONDAY 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 MONDAY NIGHT WAS A FAIR SIZED 1694 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 (64.398 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: 64.398 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT LOST $8.90 //// BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A FAIR SIZED LOSS OF 651 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH OUR LOWER PRICE. WE HAD TO HAVE HAD ANOTHER HUGE EPISODE OF STRONG SHORT COVERING. WE HAD A GOOD T.A.S. LIQUIDATION ON THE FRONT END OF MONDAY’S TRADING . THE T.A.S. ISSUED ON MONDAY 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 8.470 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 1900 OZ QUEUE JUMP (0.0590 TONNES//NEW TOTAL STANDING 64.248: ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $17.80

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

NET LOSS ON THE TWO EXCHANGES 651 CONTRACTS OR 65,100 OZ OR 2.024 TONNES.
estimated volume today 145,929 poor

final gold volumes/yesterday 137,311 poor

//speculators have left the gold arena

FEB 27 INITIAL FEB GOLD

/ /// THE FEB 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	68,935.068 oz Brinks 867 KILOBARS Manfra: 1167 kilobars .
Deposit to the Dealer* Inventory in oz*	nil oz
Deposits to the Customer* Inventory, in oz*	nil oz
No of oz served (contracts) today	50 notice(s) 5000 OZ 0.1555 TONNES
No of oz to be served (notices)	192 contracts 19,200 oz 0.59720 TONNES
Total monthly oz gold served (contracts) so far this month	19,958 notices 1,995800 oz 62.077 TONNES
Total accumulative withdrawals of gold from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of gold from the Customer* inventory this month*	x

0 dealer deposits:

total dealer deposits: nil oz

total customer withdrawals: 2

i) Out of Brinks: 27,874.863 oz 867 kilobars

ii)

ii)Out of Manfra; 37,423.685 oz (1164 kilbars

total withdrawal: 68,935.068 oz 2.14 tonnes

we had 0 customer deposit

Adjustments: 2 all dealer to customer//comex in stress

i)Loomis: 12,538.890 oz

ii) Out of Manfra: 10,038.086 ooz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR FEB.

For the front month of FEBRUARY we have an oi of 242 contracts having GAINED 33 contracts. We had 12 notices filed on Monday, so we GAINED 45 contracts or an additional 4500 oz (0.1399 tonnes) will stand for delivery at the comex.

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

Thus initial standing for gold for February is 50.136 tonnes + 1.723 tonnes = 51.859 tonnes. This was followed with today’s QUEUE jump of 4500 oz//New standing 62.675 tonnes + 1.723 tonnes = 64.358 TONNES

March LOST 92 contracts to stand at 3085

APRIL LOST 4600 CONTRACTS FALLING TO 316,780.

We had 12 contracts filed for today representing 1200 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 50 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 41 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 (19,958 x 100 oz ), to which we add the difference between the open interest for the front month of FEB. (242 CONTRACTS) minus the number of notices served upon today 50 x 100 oz per contract equals 2,015,000 OZ OR 62.675 TONNES + 1.723 Ex for Risk/prior = 64.261 tonnes

thus the INITIAL standings for gold for the FEB. contract month: No of notices filed so far (19,958) x 100 oz + (xxx) {OI for the front month} minus the number of notices served upon today (50) x 100 oz which equals 2,015,000 oz (62.675 TONNES) + 54,400 oz (1.723 TONNES) ex. for risk/prior// NEW total standing OR 64.398 TONNES

TOTAL COMEX GOLD STANDING FOR FEB: 64.398 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: 1,354,385.502 42.127 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 18,188,941.276 OZ

TOTAL REGISTERED GOLD 8,027,918.845 (249.70 tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 10,092,087.363 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 6,673,533 oz (REG GOLD- PLEDGED GOLD) 207,57 tonnes/dropping like a stone

END

SILVER/COMEX

FEB 27/INITIAL

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

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	nil oz .
Deposits to the Dealer* Inventory*	nil OZ
Deposits to the Customer Inventory	nil
No of oz served today (contracts)	4 CONTRACT(S) (20,000 OZ)
No of oz to be served (notices)	0 contracts (NIL oz)
Total monthly oz silver served (contracts)	1308 Contracts (6,550,000 oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

i) 0 dealer deposit

total dealer deposit: nil oz

i) We had 0 dealer withdrawal

total dealer withdrawals: 0 oz

We had 0 deposits customer account:

total customer deposits nil oz

JPMorgan has a total silver weight: 129.806 million oz/281.8199 million or 46.26%

adjustment: unusual: 33,423.000 oz removed from eligible ASAHI

nil

Comex withdrawals: 0

total withdrawal: 0 oz

TOTAL REGISTERED SILVER: 49.108 MILLION OZ//.TOTAL REG + ELIGIBLE. 281.817 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:

silver open interest data:

FRONT MONTH OF FEB. /2023 OI: 4 CONTRACTS HAVING LOST 16 CONTRACT(S). WE HAD 10 NOTICES FILED ON MONDAY SO WE LOST 6 CONTRACT OR AN ADDITIONAL 30,000 OZ OF SILVER CONTRACTS WILL NOT STAND FOR DELIVERY AT THE COMEX AS THEY WERE E.F.P’D DIRECTLY TO LONDON FOR IMMEDIATE DELIVERY.

MARCH LOST 11,853 CONTRACTS TO18,566. WE HAVE 2 MORE READING DAYS BEFORE FIRST DAY NOTICE.

APRIL SAW A GAIN OF 343 CONTRACTS TO STAND AT 577

MAY SAW A GAIN OF 11,680 CONTRACTS UP TO 104,691.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 10 for 50,000 oz

Comex volumes// est. volume today 83,877 excellent

Comex volume: confirmed yesterday 137,311 excellent//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 1308 x 5,000 oz = 6,540,000 oz

to which we add the difference between the open interest for the front month of FEB. (4) and the number of notices served upon today 4 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the FEB/2024 contract month: 1308 (notices served so far) x 5000 oz + OI for the front month of FEB. (5) – number of notices served upon today (4 )x 500 oz of silver standing for the FEB contract month equates to 6.540 MILLION OZ. + .445 MILLION OZ EX. FOR RISK PRIOR//NEW TOTAL 6.985 MILLION OZ

New total standing: 6.985 million oz.

There are 49.108 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!

FEB27/WITH GOLD UP $4.40 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF .87 TONNES OF GOLD FROM THE GLD:/INVENTORY RESTS AT 826.94 TONNES

FEB26/WITH GOLD DOWN $8.90 TODAY NO CHANGES IN GOLD INVENTORY AT THE GLD:/INVENTORY RESTS AT 827.81 TONNES

FEB23/WITH GOLD UP $17 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.01 TONNES OF GOLD FROM THE GLD.//INVENTORY RESTS AT 827.81 TONNES

FEB22/WITH GOLD DOWN $2.15 TODAY NO CHANGES IN GOLD INVENTORY AT THE GLD://INVENTORY RESTS AT 829.82 TONNES

FEB21/WITH GOLD DOWN $5.30 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 7.59 TONNES OF GOLD OUT OF THE GLD///INVENTORY RESTS AT 29.82 TONNES

FEB20/WITH GOLD UP $16.15 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 0.58 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 837.89 TONNES

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: 826.04 TONNES

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

FEB 27/WITH SILVER UP 3 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 0.64 MILLION OZ FROM THE SLV//// : SLV INVENTORY RESTS AT 427.943 MILLION OZ

FEB 26/WITH SILVER DOWN 44 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.065 MILLION OZ FROM THE SLV//// : SLV INVENTORY RESTS AT 428.603 MILLION OZ

FEB 23/WITH SILVER DOWN 44 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.065 MILLION OZ FROM THE SLV//// : SLV INVENTORY RESTS AT 428.603 MILLION OZ

FEB 22/WITH SILVER DOWN 10 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV

// : SLV INVENTORY RESTS AT 432.766 MILLION OZ

FEB 21/WITH SILVER DOWN 28 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 2.348 MILLION OZ OF SILVER FROM THE SLV// : SLV INVENTORY RESTS AT 432.766 MILLION OZ

FEB 20/WITH SILVER DOWN 33 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 3.385 MILLION OZ OF SILVER FROM THE SLV// : SLV INVENTORY RESTS AT 435.008 MILLION OZ

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) // /NVENTORY 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 428.603 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

end

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

CLAUDIO GLASS..

“A House Of Cards, Supported & Backed By Blind Faith…”

TUESDAY, FEB 27, 2024 – 07:20 AM

Submitted by Claudio Grass,

Private property rights under siege

People invest in gold for many different reasons. Many do so out of concern over economic, monetary or political uncertainty. Others seek a hedge against inflation, a way to protect and preserve the real purchasing power of their savings. There are also those who simply seek some peace of mind, a dependable insurance, so that no matter what the future holds and no matter how bad the “worst case scenario” turns out to be, they would still have a solid “Plan B”.

All these are valid, sound and sensible reasons to invest in gold; at least for long-term investors, for those who truly understand the true value and the core purpose of physical precious metals.

Yet ultimately, all these concerns share a common denominator. They all emanate from the same, very well founded and clearly troubling realization that our entire sociopolitical, economic and monetary system is merely a mirage – it is a house of cards, supported and backed by nothing but blind faith. It is also designed to favor and reward recklessness, opportunism, improvidence and sheer greed and to punish and penalize prudence, restraint, patience and personal responsibility.

This entire system, as complex and intricate as it might seem, is actually built on a very simple premise: It all relies upon the individual’s willingness to trade a promise of compliance, obedience and submission to a higher authority in exchange for security, order, protection and stability.

For those of us who have attained a meaningful understanding of history, of economics and of geopolitics, it will likely be clear that anyone tempted by this bargain is not only cowardly and dishonorable, but exceptionally foolish too. As Benjamin Franklin famously and concisely put it: “Those who would give up essential liberty to purchase a little temporary safety, deserve neither liberty nor safety.”

Still, in realistic, pragmatic, and purely cynical terms, such as those that underpin every modern, advanced, “enlightened” democracy, there remains a reasonable expectation of fairness. The citizens’ rights and (especially) their obligations are plainly laid out, but the State’s duties and limitations are also clearly defined. After all, that’s what Constitutions are for, on paper at least.

In modern democracies, those in government are supposed to be the servants of the people, not their masters. All state institutions, ministries and public offices are supposed to function as mere tools and conveniences for the average citizen, not as their whips or their shackles. In theory, both the government and the governed have distinct roles to play and there are clear, thoroughly negotiated and mutually accepted rules they must adhere to. In practice, however, this is rarely, if ever, the case. Much more often than not what actually happens deviates wildly from what was originally expected or agreed upon.

This is because those in positions of power tend to abuse said power unilaterally, surreptitiously and arbitrarily, and they bend, or even totally change, the rules in their favor. This inevitably leads to system that is fundamentally and inherently unjust, one which operates under the assumption that there are “rules for thee, not for me” and which functions under the tacit understanding that “we are all equal, but some of us are more equal than others”.

For any individual citizen, the “law of the land” is clearly laid out. It is strict and unyielding (e.g. there is no negotiation to be had or any “wiggle room” over the taxes they are compelled to pay, or over the permissions, licenses or official documents they have to obtain just in order to be able to work and earn a living, to travel or to relocate, to sell a property they own or to buy a new one, to build a business wherever and with whomever they deem fit, or even to freely speak their minds and voice their opinions and criticisms). For the governed, there is no choice but to abide by the rules, no matter how absurd or feckless they may be – if they dare oppose or defy them, swift and severe consequences will surely follow.

They could be heavily fined, they could have their bank accounts frozen, or their savings and their assets seized – as we saw over the last couple of years. Any and all of these punitive measures could leave them irreparably and irredeemably financially ruined.

Or perhaps they could be stripped of their basic civil rights, like the right to privacy, to free expression and self-determination. Maybe they could become targets for ideological zealots and all kinds of deranged lunatics on- and offline. They could be “cancelled”, they could lose their jobs, they could be banished from their social circles, shunned by their loved ones and ostracized from “polite society”. And if they were to persist and maintain their objections and if their reasons for doing so were dangerously well-founded and alarmingly compelling, they could even be physically detained and incarcerated.

Faced with such formidable opposition, that has access to and control over immense, diverse and powerful resources and that has the capability and willingness to deploy every offensive tool and weapon in its arsenal, clearly, it is easier, safer and patently more prudent for any individual citizen to simply comply, to conform and to just follow the rules. There is thus a clear guarantee that they’ll keep their side of that original deal and to deliver the compliance and obedience they promised; by force if not by will.

When it comes to the State, however, and all its ministries, branches and institutions, a very different set of rules seems to apply – a much more lenient, flexible and liberal one.

For example, the core pledge of security, protection and stability has yet to be fulfilled: no government has ever delivered on any of these promises socially, economically, geopolitically, or monetarily for any meaningful period of time. No matter how consistently and how faithfully the people keep their end of the deal, those in power always seem to have a ready excuse as to why they failed to honor their own and a confident assurance that they definitely, absolutely and unquestionably will, if you reelect them of course.

It is such an obvious and long-standing pattern. And this is why it is very hard to understand why and how any mature and rational citizen would place their trust in the next aspiring leader who embraces the very same ideas and values as everyone before them but still insists they will deliver different results. It is even harder to understand how anyone in their right mind could believe the oft-repeated commitment that politicians and State officials never tire of regurgitating: the promise to maintain order and to defend the rule of law.

How can any reasonable, cultivated, enlightened and decent person ever allow a fox to guard a henhouse? There are numerous historical and recent examples that clearly demonstrate the deep disregard that governments have toward their own laws and towards the rights of their own citizens. Those who have studied history know exactly how often and how easily those in power openly disregard and flout their own rules. Throughout history, governments have been known to renege on their promises. It might be justified by “special circumstances”, by invoking “emergency powers”, or in the name “national security”, but the result is what we’ve repeatedly witnessed over the last decades, all the violations of fundamental, constitutional, human and civil rights, of international law and of common decency.

In the last three years alone we saw too many disgraceful and truly flagitious examples: From infringing upon the individual citizen’s privacy, their financial sovereignty and individual liberties to brazenly violating their private property rights, their freedom of speech, their freedom of movement and their freedom of assembly.

Clearly, the rules don’t apply to those who make them.

Bearing in mind this bigger picture and keeping this wider context in mind, is it really surprising that the State (along with all its dependents, its agents and its cronies) routinely and consistently deceives, cheats, and exploits the very citizens it is theoretically bound to serve, defend, and protect?

For example, I recently came across a very interesting story from the US that perfectly illustrates how far governments have strayed from their constitutionally defined functions, powers and limitations. Specifically, one would expect law enforcement agencies and the individuals they employ to abide by and to adhere to the letter and the sprit of the Law, to respect the citizen they are supposedly serving, as well as their private property and their fundamental human and civil rights.

And yet, as the Los Angeles Times recently reported, the FBI egregiously violated said rights, when it opened and “inventoried” the contents of hundreds of safe deposit boxes in Beverly Hills during a raid in March 2021. Federal agents reportedly spent days shifting through personal belongings stored in nearly 1,400 safe deposit boxes, while they also seized assets from people who had not been charged with any crimes. They confiscated gold coins, family heirlooms, as well as piles of cash, which the total value of the seized assets exceeding $86 million. This entire operation bluntly violated the limitations of the warrant that authorized this raid, which clearly stated that it did not “authorize a criminal search or seizure of the safety deposit boxes.”

At the end of last year, a a federal appellate court ruled that “the agency’s cataloging of the contents of the privately rented boxes, without individual criminal warrants for each, violated the box holders’ 4th Amendment rights against unreasonable searches and seizures.” Court records also showed that the FBI had developed a plan to permanently confiscate everything in the boxes worth more than $5,000, as part of a wholesale forfeiture, based on an assumption that those assets were somehow tied to unknown crimes – even though there was no evidence provided to support this assumption.

No warrant was issued and no legal case was filed against the owners of said assets – they weren’t even notified of this “raid”; they only found out about this blatant violation after it was completed. Their basic constitutional rights, the very ones that every American citizen profoundly values and holds so dear, were just brazenly and flagrantly violated: their private property rights, their right against unreasonable searches and seizures, and their Sixt Amendment rights, especially their right to be informed of the nature and cause of the accusations against them and to face their accusers, their right to a speedy and public trial by an impartial jury and their right to counsel for their defense.

This case is far from unique, nor is it exclusive to the US. In Europe too, the long and multitudinous arms of the State also routinely and casually violate fundamental property, privacy and basic civil rights of innocent individual citizens. After all, what more can one expect from a system that is run by career apparatchiks and pencil pushers and principally controlled by unelected, unqualified, unremarkable, and thoroughly unaccomplished aspiring despots?

To be sure, this is not to say that Switzerland is some kind of perfect utopia, or that it is somehow magically and completely immune to the corruption and the threats of the State. To the contrary, I am the first to recognize the dangers that our small alpine nation faces and to sound the alarm against the steps it has taken in the wrong direction in recent years. For many years, I have, still do, and will continue to ardently oppose, vociferously criticize, fervently object to and fiercely rail against all these incremental (but potentially pivotal) changes that seek to erase the identity, the culture, the mentality and the character of the Swiss.

Nevertheless, as vocal and as persistent and as relentless as I have been and always will be, I never have and never will be genuinely worried about the future of this country. As I mentioned before, Switzerland is far from perfect, but it does still have one fundamental, distinctive, extraordinary and (in practical terms, truly unique) advantage: Direct democracy. This offers an ironclad protection against State overreach, or even any attempts to this end, and against any violation of private property rights.

Of course, the idea of direct democracy alone is no panacea. It only makes sense on a small scale and only among like-minded, enlightened and freedom-loving individuals. It must also be understood, embraced and practically implemented as a means to decentralization, as a manifestation of the principles of subsidiarity and as a tangible demonstration and as incontrovertible proof of the axiomatic, rudimental and foundational idea that every human being is born free. Their skills, their talents, their ideas, their efforts, their beliefs and their goals are theirs and theirs alone and they have the right to pursue, to express and to fulfill them in any way and to any extent they see fit – the only limitation is the age-old adage “my freedom stops where yours begins”.

This simple, yet very rarely practiced, sentiment lies at the heart of the Swiss identity and it represents the foundation of our small, but extraordinary, nation. This deeply engrained reverence for our own individual liberty and the equally unshakable respect for that of our neighbor is part of the Swiss DNA. It is what made this country what it is today and what guarantees it will endure and continue to thrive and be defined by its own will.

END

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

4. OTHER GOLD COMMENTARIES/PODCASTS/

END

5 a. IMPORTANT COMMENTARIES ON COMMODITIES /

END

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

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

This has the Biden team worried as Bitcoin tops $57,000 as this is perceived to be a threat to the dollar

(zerohedge)

Bitcoin Tops $57,000 As ETF Inflows Soar, Ethereum Bigger Than ASML & Samsung

TUESDAY, FEB 27, 2024 – 09:40 AM

Since the launch of spot bitcoin ETFs – much to the chagrin of Gensler, Warren et al. – over $6BN of net inflows have been invested into the various vehicles (while Gold ETFs have seen almost $3BN of net outflows)…

The last few days have also seen outflows from the legacy GBTC slow to a trickle with yesterday’s net inflow over $500 million…

Source: Bloomberg

Volumes have been relatively stable but we do note that volumes are switching from fund to fund. Last week we saw a surge in volumes in HODL and as Bloomberg’s ETF guru, Eric Balchunas (@EricBalchunas) points out, this week has seen a rising interesting in IBIT:

“Another thing about $IBIT volume that’s notable is the amt of pre-market activity..

check this out, it’s already seen $80m traded… only 5 ETFs have seen more activity ahead of mkt open. Unprecedented for 2mo-old ETF.

$BITO in 9th place makes me think lot of arb volume going on.”

This has all helped push bitcoin back above $57,000 for the first time since Nov 2021…

Source: Bloomberg

In fact, as CoinTelegraph reports, Bitcoin short sellers are nursing millions in losses after Bitcoin rocketed upward by nearly 11% to briefly notch a new yearly high of $57,000.

According to data from crypto data platform CoinGlass, over $161 million in BTC shorts were liquidated in the last 24 hours. Traders looking to gain short exposure to Ethereum didn’t fare much better, with liquidations reaching almost $44 million within the same timeframe. More than $268 million in short positions were liquidated as Bitcoin briefly touched $57,000.

More than $270 million in short positions were liquidated in total as the market spiked upward.

In a statement to Cointelegraph, Swyftx lead analyst Pav Hundal described the crypto market as being “on fire right now.”

“We’re at average per-person trade volumes in retail that we last witnessed at the top of the last bull run in November 2021, plus institutional buying pressure is immense,” he said.

“Exchange Traded Funds alone are cannibalizing close to a quarter of the Bitcoin that is currently being produced by the network,” Hundal added.

Tyler Winklevoss, co-founder of United States-based crypto exchange Gemini, offered succinctly, “We’re so back!” while outspoken BTC bull Dan Held said today’s price action marked “the beginning of the Bitcoin bull run.”

Welcome to the beginning of the Bitcoin bull run.

Be prepared for many sleepless nights 😂— Dan Held (@danheld) February 27, 2024

And ethereum up near $3300 for the first time since April 2022…

Source: Bloomberg

Options traders appeared to be anticipating some upward movement in ETH…

Top traded ETH options (via the block) pic.twitter.com/XpsaguZsoJ— zerohedge (@zerohedge) February 23, 2024

This surge in price has pushed bitcoin above $1.1 trillion in market cap (bigger than Berkshire Hathaway and almopst as large as Meta) and ethereum

Source: 8marketcap.com

And overall, the combined value of the cryptocurrency market has jumped to around $2 trillion for the first time in almost two years on the back of the ETF-fueled rally in Bitcoin.

Source: Bloomberg

“Bullish momentum in crypto is unfolding despite an uptick in rates,” Fundstrat Global Advisors Head of Digital-Asset Strategy Sean Farrell wrote in a note.

“We do not expect a major pullback from Bitcoin given its breakout and positive intermediate-term momentum,” Katie Stockton, founder of Fairlead Strategies, wrote in a note.

Finally, SpotGamma made an interesting observation. Big BTC days appears to be correlated to positive equity returns. Here are the forward 5 day SPX returns after times where prior 1 day BTC returns are +3%…

As Bloomberg reports, the massive inflows into Bitcoin ETFs have prompted some industry watchers to warn of a looming supply squeeze as miners fail to generate enough coins to keep up with demand. Some 80% if Bitcoin’s supply hasn’t changed hands in the past six months, potentially exacerbating the squeeze and adding to the upward price pressure, according to Julius Baer digital-assets analyst Manuel Villegas.

After the token’s so-called halving in April — where the block reward for miners will shrink to 3.125 Bitcoin from 6.25 Bitcoin — overall supply will fall further and the shortage “would reach aggravated levels,” Villegas said in a note on Tuesday.

“All in all, we see a very sound fundamental backdrop for Bitcoin and believe that prices are well supported around current levels with further upside potential,” Villegas wrote.

Bitcoin has outperformed all traditional asset classes this year.

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

ONSHORE YUAN: CLOSED DOWN 7.1979

OFFSHORE YUAN: DOWN TO 7.2108

SHANGHAI CLOSED UP 38.46 PPTS OR 1.29%

HANG SENG CLOSED UP 156.06 PTS OR 0.94%

2. Nikkei closed UP 5.83 PTS OR .17%

3. Europe stocks SO FAR: MOSTLY ALL GREEN EXCEPT SPAIN

USA dollar INDEX DOWN TO 103.59 EURO RISES TO 1.0861 DOWN 16 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.687 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 150.17/JAPANESE YEN NOW FALLING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK

3c Nikkei now ABOVE 17,000

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

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

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund UP TO +2.4260***/Italian 10 Yr bond yield UP to 3.881* /SPAIN 10 YR BOND YIELD UP TO 3.315…**

3i Greek 10 year bond yield UP TO 3.361

3j Gold at $2037.10 silver at: 22.62 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble UP 0 AND 21 /100 roubles/dollar; ROUBLE AT 92.18//

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 150.17// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.687% 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 0.8786 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9543 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: 4.265 DOWN 3 BASIS PTS…

USA 30 YR BOND YIELD: 4.385 DOWN 3 BASIS PTS/

USA 2 YR BOND YIELD: 4.679 DOWN 4 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 31.15…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: UP 4 BASIS PTS AT 4.1800

end

2.a Overnight: Newsquawk and Zero hedge

Futures Flat Ahead Of Flood Of Economic Data

TUESDAY, FEB 27, 2024 – 08:19 AM

US equity futures pointed to modest gains, led by tech stocks – following Monday’s 38bps drop which was the worst Monday since early December and the second worst Monday since last June – as investors looked ahead to economic data and commentary from Federal Reserve speakers in coming days for clues on the outlook for interest rates. As of 8:00am ET, S&P 500 futures rose 0.1% while Nasdaq 100 contracts added 0.3%. Europe’s Stoxx 600 index was also flat, hovering near its all-time high. Two-year notes led gains as Treasuries rose, retracing some of Monday’s drop. The dollar slipped, oil dipped and bitcoin soared above $57,000. It’s a busy day for economic data, which includes January durable goods orders (8:30am), Case-Shiller home prices (9am), consumer confidence, Richmond Fed and Dallas Fed.

In premarket trading, cryptocurrency-linked stocks rise after Bitcoin’s price reached the $57,000 level for the first time since late 2021 (Cleanspark (CLSK) +16%, Coinbase (COIN) +6, Marathon Digital (MARA) +12%). Hess shares dropped premarket after Chevron said its $53BN acquisition of Hess faces potential disruption as rivals ExxonMobil and CNOOC claim pre-emptive rights over Chevron’s stake in a crucial Guyana oil project (the largest oil discovery in a decade). Discussions are ongoing, but failure to resolve this could jeopardise the Hess takeover, Chevron said.

Macy’s shares were volatile after it said it plans to close 150 unproductive locations as the department-store chain seeks to fight off a pair of activist firms seeking to buy the company. Zoom shares jumped 13% in US premarket trading after the video-conferencing software company’s guidance for adjusted earnings per share was stronger than expected. Additionally, Zoom also said its board approved a buyback program. Here are some other notable premarket movers:

Aaron’s slumps 25% after providing disappointing 2024 forecasts.
Altice USA gains 4% after Bloomberg reported that Charter Communications is exploring a takeover of the cable provider.
Cava rises 7% after the restaurant chain posted fourth-quarter sales that beat expectations as diners splurged on premium dishes.
Hims & Hers Health (HIMS) soars 18% after the telehealth group’s forecast for first-quarter revenue topped the average analyst estimate.
Workday shares fell 7.2% in US premarket trading after the human resources software company issued full-year subscription revenue forecast that was weaker than expected at the midpoint. The company also reported fourth-quarter results that analysts said showed less upside than usual.
Unity Software shares slid 17% in US premarket trading after the video-game software development company’s forecast for revenue fell short of expectations amid a portfolio review that includes exiting some businesses.
Lowe’s said its sales will fall further this year as consumers continue to hold off from sprucing up their homes amid higher mortgage rates and a drop in new construction projects.
Janux Therapeutics jumps 106% after the company reported updated clinical data.
PubMatic rises 27% after the advertising technology company’s fourth-quarter earnings beat expectations, with analysts highlighting a boost from new products.
TransMedics gains 21% after the transplant therapy biotechnology company reported fourth-quarter revenue that beat the average analyst estimate.

Readings on the US economy are in sharp focus this week, with the Fed’s favored inflation gauge due on Thursday grabbing the most attention. Markets have already dialed back expectations for early and rapid Fed easing after hotter-than-expected data on jobs and price gains, pushing out bets on a first cut to June or July.

“We have always been in the camp that the Fed is unlikely to move as quickly as the market was pricing and data for the first couple of months will only confirm that the first cut will be pushed into the third quarter,” said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management Co.

In response to some arguments that stocks are in another tech bubble, Citigroup strategists said they don’t regard the US equity market as being in a bubble like that of 1999-2000, and suggested the rally could spread to other sectors. Valuation multiples for stocks are well below 2000 levels and, while cash flow expectations around tech companies have increased, forecasts for other industry groups aren’t stretched. That supports the case for broader equity gains.

“We argue that ‘bubble’ is the wrong term to describe the current market setup,” the Citigroup team led by Scott Chronert wrote. “Rather, the recent rally puts pressure on fundamentals to deliver.”

Elsewhere, Bitcoin climbed, rising briefly beyond $57,000 for the first time since late 2021, supported by investor demand through exchange-traded funds as well as further purchases by MicroStrategy Inc.

European stocks were little changed, with mining and autos & parts shares leading gains, while personal care and media stocks are the biggest laggards; drinkmakers’ stocks rose as earnings from Aperol-maker Davide Campari-Milano exceed analyst forecasts. The moves followed sharp drops over the past year for beverage manufacturers amid worries about destocking and consumers turning to cheaper alternatives. Campari gained as much as 7.5% while Remy Cointreau (+2.2%), Pernod Ricard (+1.8%), Diageo (+1.6%) also rise. Here are the biggest movers Tuesday:

Bouygues rises as much as 5.3% after the French conglomerate reported full-year results, with Morgan Stanley saying that a beat on free cash flow was the main highlight
GTT shares gain as much as 9%, to touch their highest since August 2022, after the French engineering company’s guidance for 2024 Ebitda beat analysts’ consensus at the mid-point, according to data tracked by Bloomberg
Flutter shares gain as much as 5.7% in London as Barclays upgrades the stock to overweight from equal-weight, seeing earnings growth over several years as the gambling operator’s US market share strengthens
Abrdn rose as much as 7.8% after the UK asset manager reported adjusted operating profit above estimates, with analysts also drawing attention to stable net interest margins
SIG Group shares rise as much as 3.6%, the most since February 2023, after the Swiss carton-packaging maker’s cashflow turned positive thanks a strong 4Q, according to Vontobel
Puma shares advance as much as 3.9% after the sportswear brand reported full-year results. The company also said it sees weaker demand for sneakers and sports gear persisting through the first half of the year before picking up amid major sporting events
Eurofins Scientific shares fall as much as 12%, the most in a year. Morgan Stanley said cashflow was disappointing from the laboratory testing services company, citing the cost of higher start-up losses and more restructuring
Straumann shares decline as much as 7.1% after the Swiss dental equipment company reported operating profit was much weaker due to restructuring and impairment
Croda shares fall as much as 3.6% after the British specialty chemicals firm reported FY23 results. Citi analysts say though the figures mark the end of a difficult year
Rovi declines as much as 9% after the Spanish pharmaceutical company said it expects revenue to decrease by a mid-single-digit percentage in 2024. It’s the steepest drop since May last year

Earlier in the session, Asian stocks declined in the absence of fresh catalysts to drive the regional benchmark’s longest stretch of weekly gains in more than a year, with shares in Japan and Hong Kong reversing earlier advances. The MSCI Asia Pacific Index fell 0.2%, reversing a rise of as much as 0.3%, with losses in technology stocks weighing on the index. Japan’s benchmarks, reversed an early advance, while stocks also fell in Korea, Taiwan and Singapore. Mainland and Hong Kong-listed Chinese shares declined, extending Monday’s slide, as attention shifts to next week’s NPC meet. Hong Kong’s benchmark dropped ahead of the budget announcement on Wednesday.

Hang Seng and Shanghai Comp. were mixed with the mainland mildly positive after the PBoC injected liquidity and with China said to consider approving additional REITs to support consumption.
ASX 200 was choppy as strength in the consumer sector was partially offset by weakness in miners.
Nikkei 225 printed fresh record highs before reversing the advances as participants digested the latest CPI data.

Japan’s two-year yield climbed to the highest since 2011 after stronger-than-expected inflation data boosted bets the central bank will end its negative-interest-rate policy in coming months. Traders increased the probability of Bank of Japan exiting its negative rate policy by April to about 82%, up from 78% on Monday, according to swaps data compiled by Bloomberg. The yen strengthened against the dollar.

The inflation report “is adding to speculation that the BOJ will end negative-rate policy as early as March and is serving as a selling catalyst for bonds,” said Kazuya Fujiwara, a fixed-income strategist at Mitsubishi UFJ Morgan Stanley Securities Co. in Tokyo. The data underscores persistent inflationary pressures, he said.

In FX, the Bloomberg Dollar Spot Index drops as much as 0.2% before paring losses to 0.1% while the yen stood atop the G-10 FX leader board, rising 0.3% versus the greenback after Japanese CPI topped estimates and pushed two-year JGB yields to the highest since 2011. The greenback also lagged the Australian dollar, though outperformed others incuding Sweden’s krona.

In rates, treasuries held small gains across the curve after being led higher by bunds and gilts after data showed inflation in UK stores slowed to the lowest level since March 2022. 10-year US TSY yields were around 4.26%, about ~2bps lower on the day, with bunds and gilts outperforming by 0.5bp and 2bp in the sector; gilts, richer by 3bp-4bp on the day, lead gains in core European rates as BOE rate cuts are more aggressively priced. Supply remains the main theme, with $42 billion 7-year note auction at 1pm and another heavy slate of new corporate bonds anticipated after $27 billion was priced Monday. The week’s coupon issuance concludes with today’s 7-year note auction, and follows small tails for 2- and 5-year notes Monday; the WI 7-year yield near 4.30% is about 19bp cheaper than January’s, which tailed by 0.3bp. The dollar IG credit issuance slate includes a handful of deals already; 18 names priced $27b across 37 tranches Monday on order books that were three times oversubscribed according to Bloomberg, spreads compressed nearly 25bps across execution and attrition rates climbed. Another busy session is is expected Tuesday, before critical inflation data later this week.

In commodities, oil steadied after Monday’s gains as pockets of strength in physical markets supported wider sentiment; WTI trade near $77.60 while Brent was at $82.40. Iron ore gained after Monday’s hefty loss, as market watchers looked for signs China’s approaching construction season will bolster demand after costs of the raw material dropped. Spot gold is up 0.2%.

Bitcoin surged more than 4%, hitting a fresh two-year high and rose above $57,000, extending on the sharp gains seen on Monday, with the latest ETF inflows confirming that retail interest continues to surge.

Looking at today’s calendar, US economic data includes January durably goods orders (8:30am), 4Q house price purchase index, December FHFA house price index and S&P CoreLogic Case-Shiller home prices (9am), February Richmond Fed manufacturing index, consumer confidence, and Richmond Fed business conditions (10am) and Dallas Fed services activity (10:30am). Fed speakers scheduled include Barr at 9:05am.

Market Snapshot

S&P 500 futures up 0.1% to 5,085.50
STOXX Europe 600 little changed at 495.81
MXAP up 0.3% to 173.34
MXAPJ up 0.2% to 527.76
Nikkei little changed at 39,239.52
Topix up 0.2% to 2,678.46
Hang Seng Index up 0.9% to 16,790.80
Shanghai Composite up 1.3% to 3,015.48
Sensex up 0.5% to 73,141.23
Australia S&P/ASX 200 up 0.1% to 7,663.01
Kospi down 0.8% to 2,625.05
German 10Y yield little changed at 2.43%
Euro little changed at $1.0854
Brent Futures little changed at $82.57/bbl
Gold spot up 0.2% to $2,035.73
U.S. Dollar Index down 0.12% to 103.71

Top overnight news

Japan’s Jan CPI overshoots the Street, with headline coming in at +2.2% (vs. the Street +1.9% and vs. +2.6% in Dec) while core rises 3.5% (vs. the Street +3.3% and vs. +3.7% in Dec). BBG
Chinese regulators are taking measures to keep the renminbi’s dollar exchange rate stable as Beijing seeks to bolster confidence in the country’s currency and economy ahead of a key leadership summit. FT
China’s state-backed funds have poured more than 410 billion yuan ($57 billion) into onshore shares this year in a bid to prop up the market. Further purchases are expected. BBG
Samsonite is weighing its options following interest from suitors including buyout firms, people familiar said. Some PE firms are considering acquiring the company and relisting it in another market — such as the US — at a higher valuation. Shares jumped in Hong Kong. BBG
President Emmanuel Macron of France on Monday said “nothing should be ruled out” after he was asked about the possibility of sending Western troops to Ukraine in support of the embattled nation’s war against Russia. NYT
Iran reduced its stockpile of near-weapons-grade nuclear material even as it continued expanding its overall nuclear program, the United Nations’ atomic watchdog said Monday, marking a surprise step that could ease tensions with Washington. WSJ
President Biden said Monday that fighting in Gaza could stop as early as this coming weekend, the most detailed timeline to date from the White House on a cease-fire between Hamas and Israel in Gaza. WSJ
Federal Reserve Bank of Kansas City President Jeffrey R. Schmid said the US central bank should be patient in cutting interest rates with inflation above its 2% target and the job market still strong. In his first major speech since taking the job six months ago, Schmid also said he’s in no hurry to stop the ongoing reduction of the Fed’s balance sheet. BBG
Sixth Street wants to go big on beaten down real estate to capitalize as banks grapple with stress in their portfolios. “We don’t think this is systemic risk, but there are obviously large exposures, particularly in some of the small and regional-sized banks,” CEO Alan Waxman said. BBG

Earnings

Hess (HES), Chevron (CVX) – Chevron’s USD 53bln acquisition of Hess faces potential disruption as rivals ExxonMobil (XOM) and CNOOC (883 HK) claim pre-emptive rights over Chevron’s stake in a crucial Guyana oil project (the largest oil discovery in a decade). Discussions are ongoing, but failure to resolve this could jeopardise the Hess takeover, Chevron said. (Newswires) HES -2.9%, CVX -0.6% in pre-market trade
Puma (PUM GY) – Q4 (EUR): Revenue 1.98bln (exp. 2.094bln). EBIT 94.4mln (exp. 100mln). Net 0.8mln (exp. 28mln). Adverse currencies lead to a negative impact on sales of more than EUR 400mln. Asia/Pacific sales increased by 2.8% Y/Y, supported by strong growth in Greater China and India. The rest of Asia was softer, impacted by consumer sentiment and warm weather conditions. Sales in the Americas region decreased by 2.4% Y/Y due to the devaluation of the Argentine peso. 2024 EBIT guidance 620-700mln (exp. 663mln). “Going into 2024, we see that the market environment remains challenging.” (Puma) +0.5% in European trade
Lowe’s Companies Inc (LOW) Q4 2023 (USD): Adj. EPS 2.28 (exp. 1.68), Revenue 18.602bln (exp. 18.45bln) choppy pre-market
EU antitrust regulator says it will analyse Microsoft’s (MSFT) AI partnership with Mistral AI.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded mixed after the lacklustre handover from the US as markets braced for looming risk events. ASX 200 was choppy as strength in the consumer sector was partially offset by weakness in miners. Nikkei 225 printed fresh record highs before reversing the advances as participants digested the latest CPI data. Hang Seng and Shanghai Comp. were mixed with the mainland mildly positive after the PBoC injected liquidity and with China said to consider approving additional REITs to support consumption.

Top Asian News

US intends to increase defence industrial cooperation with Japan, India, and other partners in the Indo-Pacific to build supply chain resilience in the face of threats like China, according to a Pentagon official cited by Nikkei.
China’s Commerce Minister Wang met with USTR Tai at the WTO conference in Abu Dhabi and expressed Beijing’s “solemn concerns” over US tariffs and Taiwan-related issues, according to SCMP.
China’s Commerce Minister Wang said China is highly concerned about the trade remedy investigation initiated by the European side on China’s EVs and other products, while he expressed strong dissatisfaction with this investigation that lacks factual basis.
China’s Commerce Minister Wang said China hopes Australia will pay attention to and actively promote the resolution of specific problems encountered by Chinese enterprises in Australia, as well as actively support China’s accession to CPTPP.
ABC News reported that it understands China is on track to lift tariffs on Australian wine at the end of next month when a review into the wine duties concludes.
Standard Chartered (2888 HK) suspended new subscriptions by clients in China under the QDII outbound investment programme citing “commercial reasons”, according to Reuters.
PBoC held a working meeting on Feb 26th; says they are to use all monetary tools in full and use them well.
China says it will prevent fluctuations in the housing market, according to CCTV; says localities should promote balance between supply and demand in the real estate market. All cities should accurately study and judge housing demand and improve housing supply, cities should take into account local economic and social development alongside population changes.

European bourses are modestly firmer having picked up a touch in limited newsflow after an uneventful open, Euro Stoxx 50 +0.3%. Breadth overall fairly narrow, though the likes of the DAX 40 +0.4% have begun to extend modestly higher. Sectors mixed with no clear theme or bias though Basic Resource names outperform while Morgan Stanley lifted Semiconductors to Overweight (prev. Neutral). Auto names, in Germany in particular, are modestly firmer after Monday’s pressure. Stateside, futures remain near the unchanged mark but with a slight positive bias, ES +0.1%, in-fitting with initial action in European trade but yet to experience the modest uptick seen since in European peers. Newsflow thus far limited, updates around MSFT, HES, CVX among others.

Top European News

UK Chancellor Hunt is considering plans to lower national insurance instead of income tax and could also announce a duty on vapes, according to reporting by The Telegraph.

The DXY fell below Monday’s 103.71 trough to a 103.60 base amid JPY pressure post-Japanese CPI. However, USD/JPY failed to test 150.00 to the downside and has since risen a touch with the USD benefitting in-turn and towards the 103.81 peak.
EUR holds near the 1.0850 mark in relatively tight parameters with specifics light and no follow through from German GfK.
Cable is unchanged and within Monday’s range, docket ahead for the UK is headlined by BoE’s Ramsden.
AUD outperforms as it resides near its 100-DMA and is yet to test the 200-DMA at 0.6555 and 0.6561 respectively, Kiwi ever so slightly softer vs the USD ahead of the RBNZ.
PBoC set USD/CNY mid-point at 7.1057 vs exp. 7.1945 (prev. 7.1080).
Chinese regulators are reportedly taking measures to keep the renminbi exchange rate stable as Beijing aims to bolster confidence in China’s economy and currency ahead of the “Two Sessions” gathering set to begin March 4th, while measures include refraining from short-term interest rate cuts and keeping the CNY currency band against the dollar firm, according to FT.

Fixed Income

Session’s focus has been supply. Little reaction to outings from the Netherlands, UK & Germany thus far though the overall hefty docket in addition to syndication details/announcements from Slovakia, France, Italy (Valore) & UK has kept EGBs near the unchanged mark.
Bunds held a tick above Monday’s Monday’s 132.33 base and by extension remain above Friday’s 132.05 low; BTPs similarly contained but we await further 7yr Valore (Retail) updates after Monday’s first day of subscription saw a record EUR 6.4bln of demand.
Gilts not ‘stuck; to unchanged levels in the same way as BTPs as its own supply was via a I/L; most recently, no reaction to the DMO announcing it will be launching a new 30yr syndication from 11th March (week after the March budget).
USTs a touch firmer but someway shy of Monday’s 110-04 peak after lacklustre 2yr & 5yr sales, 7yr due later. Yields currently under modest pressure with no overt flattening/steepening bias.

Commodities

Crude is near unchanged but holding on to most of the prior day’s gains amid the recent Dollar softness and ongoing geopolitics, no reaction to the most recent updates which poured some cold water on Biden’s relative optimism overnight.
Nat gas under pressure but within familiar ranges for Dutch TTF while its US peer is essentially flat intraday.
Precious metals benefit from the softer USD and yield environment, but slipped from best as the DXY lifted from its low; base peers post modest gains with potential tailwinds from reports out of China around measures to support consumption.
Russia is to ban gasoline exports for six months with the ban to be introduced from March 1st, according to Tass.

Geopolitics: Middle East

Hamas received a draft Paris proposal which allows for a 40-day initial halt in all military operations and for the gradual return of displaced civilians to North Gaza, except men of military age, while it proposes all Israeli women, children under 19, elderly, and sick hostages would be released in exchange for a number of Palestinian prisoners. Furthermore, Palestinian prisoners would be exchanged for the release of Israeli hostages at a ratio of 10 to 1, according to a senior source cited by Reuters.
US President Biden said he hopes a ceasefire agreement between Israel and Hamas can take effect by next Monday and national security advisers told him negotiators are “close”, according to AP.
US President Biden said Israel has agreed not to engage in “activities” during Ramadan and has committed to enable an evacuation of significant portions of Rafah “before they go and take out remainder of Hamas”, according to NBC interview
US Central Command said it destroyed three unmanned surface vessels, two mobile anti-ship cruise missiles, and a one-way attack unmanned aerial vehicle in self-defence, according to Reuters.
Hamas official says there are still “big gaps” that need to be bridged before a ceasefire. Thereafter, Israeli political sources report that they do not know what the basis of US President Biden’s optimism regarding the imminent ceasefire is, via AJA Breaking and there is no breakthrough to announce on Gaza ceasefire, according to Qatar’s Foreign Minister; remain upbeat and optimistic on mediation talks; no agreement between Israel and Hamas on any of the main issues linked to a ceasefire.

Geopolitics: Other

Czech PM Fiala said about 15 countries have shown interest in the Ukraine ammunition initiative and Dutch PM Rutte noted that several other countries will also contribute to the Czech-proposed ammunition initiative, according to Reuters.
French President Macron said they think a Russian defeat is indispensable for Europe’s security and they will be exploring ways to mobilise third countries to buy ammunition, while he added they will join the ammunition initiative. Macron also said European countries will increase sanctions on countries helping Russia to bypass European sanctions and noted that he didn’t say France was not in favour of sending troops to Ukraine, while he stands by strategic ambiguity on the issue of sending troops to Ukraine and cannot rule it out.
Russia’s Kremlin, on French President Macron not ruling out sending European troops to Ukraine, says sending NATO member contingent to Ukraine is a very important new element; if this happens, talks would have to shift to the inevitability of conflict with NATO.
Russian Security Council Secretary Patrushev met with Cuba’s Raul Castro to discuss security cooperation, according to Ifax.

US Event Calendar

08:30: Jan. Durable Goods Orders, est. -5.0%, prior 0%
- Jan. Durables-Less Transportation, est. 0.2%, prior 0.5%
- Jan. Cap Goods Ship Nondef Ex Air, est. 0.1%, prior 0%
- Jan. Cap Goods Orders Nondef Ex Air, est. 0.1%, prior 0.2%
09:00: Dec. S&P/Case-Shiller US HPI YoY, prior 5.14%
- Dec. S&P/CS 20 City MoM SA, est. 0.20%, prior 0.15%
- Dec. S&P CS Composite-20 YoY, est. 6.00%, prior 5.40%
- Dec. FHFA House Price Index MoM, est. 0.3%, prior 0.3%
- 4Q House Price Purchase Index QoQ, prior 2.1%
10:00: Feb. Conf. Board Consumer Confidenc, est. 115.0, prior 114.8
- Feb. Conf. Board Expectations, prior 83.8
- Feb. Conf. Board Present Situation, prior 161.3
10:00: Feb. Richmond Fed Index, est. -9, prior -15
10:30: Feb. Dallas Fed Services Activity, prior -9.3

Central Bank speakers

09:05: Fed’s Barr Speaks on Counterparty Credit Risk

DB’s Jim Reid concludes the overnight wrap

Its been a pretty quiet start to the week in equities but with the S&P 500 (-0.38%) seeing a late minor sell-off and with Chinese equities rising this morning on speculation that the authorities bought a notable amount of domestic shares in recent weeks. Yields rising across the board has been the main source of interest though. In the process the amount of cuts priced in by the Fed’s December meeting is now the lowest since mid-November, at 79bps, around half the amount expected at the start of the year. Meanwhile, yields on 2yr Treasuries (+2.8bps) closed at 4.72%, their highest level since the Fed’s December meeting, and overnight 2yr Japanese yields have edged up to their highest since 2011 after Japanese inflation beat expectations.

It was a similar story earlier in Europe yesterday with yields then rising steadily all day, even before ECB President Lagarde comments to the European Parliament just before the European equity close. These remarks showed ongoing patience, suggesting that the ECB “needs to be confident that [the current disinflationary process] will lead us sustainably to our 2% target”. Overall her comments were not that different to the last ECB statement and the yield rise was mostly done for the day before she spoke.

By the close 10yr bunds (+7.7bps), OATs (+8.3bps) and BTPs (+9.1bps) all posted significant yield increases, effectively reversing Friday’s rally (-7.8bps for 10yr bunds). And at the front end of the curve, the 2yr German yield (+6.9bps) closed at 2.92%, its highest level since November. The likelihood of an ECB cut by the April meeting was down 6pp to 27%, which is the lowest since late September.

Over in the US, the 10yr yield ended the day up +3.1bps at 4.28%, whilst the 2yr yield ended the day up +2.8bps at 4.72%, its highest level so far this year. Bonds reversed some of their decline late in the session, perhaps as equities dipped, with the 10yr yield having been more than 5bps higher on the day shortly after 2yr and 5yr Treasury auctions, which saw decent investor demand but with bonds being issued a touch above the pre-sale yields.

The day’s yield rises occurred alongside some decent second-order data releases, with the UK CBI’s retail sales volume survey at a 10-month high of -7 (vs. -31 expected and up from a 3-year low of -50 in January). Later the Dallas Fed’s manufacturing index was up to -11.3 in February (vs. -15.0 exp.). US new home sales came in at an annualised pace of 661k in January, below the 684k expected but their highest level in three months as December was revised down from 664k to 651k.

It’s an interesting week for equities as the recent run is starting to get into once in a couple of generation territory. The S&P 500 has now posted 15 weekly gains in the last 17 for the first time since 1989. Moreover, if we get another positive week this week, then it would be 16 out of 18 weeks for the first time since 1971, and it would also be a joint record since the index’s formation. So even though there’s been lots of positive catalysts, from lower inflation to excitement about AI, it’s actually very unusual to see the sort of sustained rally that’s occurred over the last few months. For more info, Henry put out some charts on the current rally in his Mapping Markets publication yesterday (link here).

As we started a new week equities struggled to maintain their spectacular recent momentum, with the S&P 500 -0.38% lower on Monday. The NASDAQ declined a marginal -0.13%, while the Magnificent 7 were down -0.39%, dragged lower by a -4.44% decline for Alphabet amid concerns over recent missteps with its AI model. Small-cap stocks were the strongest performers, with the Russell 2000 up +0.61%. Over in Europe the picture was more negative though, with the STOXX 600 down -0.37% as it fell back from its all-time high on Friday. Even so, it wasn’t all bad news there, as the DAX (+0.02%) eked out a new record, and Euro HY spreads reaching their tightest level in over two years.

In Asia the KOSPI (-0.42%), Hang Seng (-0.36%) and Nikkei (-0.12%) are all slightly lower. Elsewhere, Chinese stocks are bucking the trend with the CSI (+0.35%) and the Shanghai Composite (+0.51%) higher after reports on Bloomberg of state buying in recent weeks. US stock futures are slightly lower as I type.

Coming back to Japan, inflation slowed less than expected in January, rising +2.2% y/y (vs. +1.9% expected) even if down from the previous month’s +2.6%. The +2.0% increase in core consumer prices was slower than the 2.3% increase in December and a tenth above expectations. Core-core was two-tenths above expectations at 3.5% from 3.7% last month. As mentioned at the top, yields on 2yr JGBs Japanese (+1.0bps) have hit their highest level since 2011, trading at 0.165% as we go to print. As a result, The likelihood of BOJ exiting its negative rate policy by April has risen to about 81%, up from yesterday’s 78%.

To the day ahead now, and US data releases include the Conference Board’s consumer confidence for February, the Richmond Fed’s manufacturing index for February, preliminary durable goods orders for January, and the FHFA house price index for December. Meanwhile in the Euro Area, there’s the M3 money supply for January. From central banks, we’ll hear from Fed Vice Chair for Supervision Barr, the ECB’s Elderson, and BoE Deputy Governor Ramsden. Lastly in US politics, there are Republican and Democratic primaries taking place in Michigan.

end

From Europe

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

DXY pressured by JPY post-CPI; Fed’s Schmid says no-need to pre-emptively adj. – Newsquawk US Market Open

TUESDAY, FEB 27, 2024 – 06:25 AM

European bourses modestly firmer having picked up from an uneventful open with newsflow limited
DXY fell below Monday’s trough with pressure coming via JPY strength after Japanese CPI
Session’s focus for fixed income is supply, EGBs stuck near unchanged levels while USTs are a touch firmer
Commodities near unchanged levels as we await fresh geopolitical developments, latest pour some cold water on Biden’s framing. Metals bid, benefitting from USD/yields.
Fed’s Schmid (non-voter) said there is no need to pre-emptively adjust the stance of policy
Looking ahead, highlights include US Durable Goods, Richmond Fed, NBH, Fed Discount Rate Minutes, Comments from Fed’s Barr, BoE’s Ramsden, ECB’s Elderson, Supply from the US
Click here for the Newsquawk Week Ahead.

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EUROPEAN TRADE

EQUITIES

European bourses are modestly firmer having picked up a touch in limited newsflow after an uneventful open, Euro Stoxx 50 +0.3%. Breadth overall fairly narrow, though the likes of the DAX 40 +0.4% have begun to extend modestly higher.
Sectors mixed with no clear theme or bias though Basic Resource names outperform while Morgan Stanley lifted Semiconductors to Overweight (prev. Neutral). Auto names, in Germany in particular, are modestly firmer after Monday’s pressure.
Stateside, futures remain near the unchanged mark but with a slight positive bias, ES +0.1%, in-fitting with initial action in European trade but yet to experience the modest uptick seen since in European peers. Newsflow thus far limited, updates around MSFT, HES, CVX among others.
Click here and here for the sessions European pre-market equity newsflow, including earnings from abrdn, Puma, Bouygues & more.
Click here for more details.

FX

The DXY fell below Monday’s 103.71 trough to a 103.60 base amid JPY pressure post-Japanese CPI. However, USD/JPY failed to test 150.00 to the downside and has since risen a touch with the USD benefitting in-turn and towards the 103.81 peak.
EUR holds near the 1.0850 mark in relatively tight parameters with specifics light and no follow through from German GfK.
Cable is unchanged and within Monday’s range, docket ahead for the UK is headlined by BoE’s Ramsden.
AUD outperforms as it resides near its 100-DMA and is yet to test the 200-DMA at 0.6555 and 0.6561 respectively, Kiwi ever so slightly softer vs the USD ahead of the RBNZ.
PBoC set USD/CNY mid-point at 7.1057 vs exp. 7.1945 (prev. 7.1080).
Chinese regulators are reportedly taking measures to keep the renminbi exchange rate stable as Beijing aims to bolster confidence in China’s economy and currency ahead of the “Two Sessions” gathering set to begin March 4th, while measures include refraining from short-term interest rate cuts and keeping the CNY currency band against the dollar firm, according to FT.
Click here for more details.

FIXED INCOME

Session’s focus has been supply. Little reaction to outings from the Netherlands, UK & Germany thus far though the overall hefty docket in addition to syndication details/announcements from Slovakia, France, Italy (Valore) & UK has kept EGBs near the unchanged mark.
Bunds held a tick above Monday’s Monday’s 132.33 base and by extension remain above Friday’s 132.05 low; BTPs similarly contained but we await further 7yr Valore (Retail) updates after Monday’s first day of subscription saw a record EUR 6.4bln of demand.
Gilts not ‘stuck; to unchanged levels in the same way as BTPs as its own supply was via a I/L; most recently, no reaction to the DMO announcing it will be launching a new 30yr syndication from 11th March (week after the March budget).
USTs a touch firmer but someway shy of Monday’s 110-04 peak after lacklustre 2yr & 5yr sales, 7yr due later. Yields currently under modest pressure with no overt flattening/steepening bias.
Click here for more details.

COMMODITIES

Crude is near unchanged but holding on to most of the prior day’s gains amid the recent Dollar softness and ongoing geopolitics, no reaction to the most recent updates which poured some cold water on Biden’s relative optimism overnight.
Nat gas under pressure but within familiar ranges for Dutch TTF while its US peer is essentially flat intraday.
Precious metals benefit from the softer USD and yield environment, but slipped from best as the DXY lifted from its low; base peers post modest gains with potential tailwinds from reports out of China around measures to support consumption.
Russia is to ban gasoline exports for six months with the ban to be introduced from March 1st, according to Tass.
Click here for more details.

NOTABLE EUROPEAN HEADLINES

UK Chancellor Hunt is considering plans to lower national insurance instead of income tax and could also announce a duty on vapes, according to reporting by The Telegraph.

DATA RECAP

UK BRC Shop Price Index YY (Jan) 2.5% (Prev. 2.9%)
German GfK Consumer Sentiment (Mar) -29.0 vs. Exp. -29.0 (Prev. -29.7, Rev. -29.6)

EARNINGS/EQUITY SPECIFICS

Hess (HES), Chevron (CVX) – Chevron’s USD 53bln acquisition of Hess faces potential disruption as rivals ExxonMobil (XOM) and CNOOC (883 HK) claim pre-emptive rights over Chevron’s stake in a crucial Guyana oil project (the largest oil discovery in a decade). Discussions are ongoing, but failure to resolve this could jeopardise the Hess takeover, Chevron said. (Newswires) HES -2.9%, CVX -0.6% in pre-market trade
Puma (PUM GY) – Q4 (EUR): Revenue 1.98bln (exp. 2.094bln). EBIT 94.4mln (exp. 100mln). Net 0.8mln (exp. 28mln). Adverse currencies lead to a negative impact on sales of more than EUR 400mln. Asia/Pacific sales increased by 2.8% Y/Y, supported by strong growth in Greater China and India. The rest of Asia was softer, impacted by consumer sentiment and warm weather conditions. Sales in the Americas region decreased by 2.4% Y/Y due to the devaluation of the Argentine peso. 2024 EBIT guidance 620-700mln (exp. 663mln). “Going into 2024, we see that the market environment remains challenging.” (Puma) +0.5% in European trade
Lowe’s Companies Inc (LOW) Q4 2023 (USD): Adj. EPS 2.28 (exp. 1.68), Revenue 18.602bln (exp. 18.45bln) choppy pre-market
EU antitrust regulator says it will analyse Microsoft’s (MSFT) AI partnership with Mistral AI.

NOTABLE US HEADLINES

Fed’s Schmid (non-voter) said there is no need to pre-emptively adjust the stance of policy and that the Fed should be patient and wait for convincing evidence that the inflation fight has been won, while they are not out of the woods yet on ‘too high’ inflation. Schmid said there is no hurry to halt the ongoing reduction in the size of the Fed’s balance sheet and how much further the Fed can shrink its balance sheet is ‘an open question’. Furthermore, he doesn’t favour an ‘overly cautious’ approach to balance sheet runoff and some interest-rate volatility should be tolerated.
US Treasury Secretary Yellen said she is carefully monitoring economic challenges in certain countries but noted the global economy remains resilient and global growth has been stronger than expected, while she added inflation is to fall in 80% of economies this year. Yellen said the US economy’s strength has been a key driver of positive global economic performance and although there are risks to the US outlook, America’s growth has consistently exceeded projections, according to Reuters.
US Commerce Secretary Raimondo said the US is to make 20% of ‘leading edge’ chips by the end of the decade and some chip companies may get half of what they sought or less in government subsidies.

GEOPOLITICS

MIDDLE EAST

Hamas received a draft Paris proposal which allows for a 40-day initial halt in all military operations and for the gradual return of displaced civilians to North Gaza, except men of military age, while it proposes all Israeli women, children under 19, elderly, and sick hostages would be released in exchange for a number of Palestinian prisoners. Furthermore, Palestinian prisoners would be exchanged for the release of Israeli hostages at a ratio of 10 to 1, according to a senior source cited by Reuters.
US President Biden said he hopes a ceasefire agreement between Israel and Hamas can take effect by next Monday and national security advisers told him negotiators are “close”, according to AP.
US President Biden said Israel has agreed not to engage in “activities” during Ramadan and has committed to enable an evacuation of significant portions of Rafah “before they go and take out remainder of Hamas”, according to NBC interview
US Central Command said it destroyed three unmanned surface vessels, two mobile anti-ship cruise missiles, and a one-way attack unmanned aerial vehicle in self-defence, according to Reuters.
Hamas official says there are still “big gaps” that need to be bridged before a ceasefire. Thereafter, Israeli political sources report that they do not know what the basis of US President Biden’s optimism regarding the imminent ceasefire is, via AJA Breaking and there is no breakthrough to announce on Gaza ceasefire, according to Qatar’s Foreign Minister; remain upbeat and optimistic on mediation talks; no agreement between Israel and Hamas on any of the main issues linked to a ceasefire.

OTHER

Czech PM Fiala said about 15 countries have shown interest in the Ukraine ammunition initiative and Dutch PM Rutte noted that several other countries will also contribute to the Czech-proposed ammunition initiative, according to Reuters.
French President Macron said they think a Russian defeat is indispensable for Europe’s security and they will be exploring ways to mobilise third countries to buy ammunition, while he added they will join the ammunition initiative. Macron also said European countries will increase sanctions on countries helping Russia to bypass European sanctions and noted that he didn’t say France was not in favour of sending troops to Ukraine, while he stands by strategic ambiguity on the issue of sending troops to Ukraine and cannot rule it out.
Russia’s Kremlin, on French President Macron not ruling out sending European troops to Ukraine, says sending NATO member contingent to Ukraine is a very important new element; if this happens, talks would have to shift to the inevitability of conflict with NATO.
Russian Security Council Secretary Patrushev met with Cuba’s Raul Castro to discuss security cooperation, according to Ifax.

CRYPTO

Bitcoin continues to rise and swiftly eclipsed the USD 55k mark, extending on the pronounced price action seen on Monday.

APAC TRADE

APAC stocks traded mixed after the lacklustre handover from the US as markets braced for looming risk events.
ASX 200 was choppy as strength in the consumer sector was partially offset by weakness in miners.
Nikkei 225 printed fresh record highs before reversing the advances as participants digested the latest CPI data.
Hang Seng and Shanghai Comp. were mixed with the mainland mildly positive after the PBoC injected liquidity and with China said to consider approving additional REITs to support consumption.

NOTABLE HEADLINES

US intends to increase defence industrial cooperation with Japan, India, and other partners in the Indo-Pacific to build supply chain resilience in the face of threats like China, according to a Pentagon official cited by Nikkei.
China’s Commerce Minister Wang met with USTR Tai at the WTO conference in Abu Dhabi and expressed Beijing’s “solemn concerns” over US tariffs and Taiwan-related issues, according to SCMP.
China’s Commerce Minister Wang said China is highly concerned about the trade remedy investigation initiated by the European side on China’s EVs and other products, while he expressed strong dissatisfaction with this investigation that lacks factual basis.
China’s Commerce Minister Wang said China hopes Australia will pay attention to and actively promote the resolution of specific problems encountered by Chinese enterprises in Australia, as well as actively support China’s accession to CPTPP.
ABC News reported that it understands China is on track to lift tariffs on Australian wine at the end of next month when a review into the wine duties concludes.
Standard Chartered (2888 HK) suspended new subscriptions by clients in China under the QDII outbound investment programme citing “commercial reasons”, according to Reuters.
PBoC held a working meeting on Feb 26th; says they are to use all monetary tools in full and use them well.
China says it will prevent fluctuations in the housing market, according to CCTV; says localities should promote balance between supply and demand in the real estate market. All cities should accurately study and judge housing demand and improve housing supply, cities should take into account local economic and social development alongside population changes.

DATA RECAP

Japanese National CPI YY (Jan) 2.2% vs. Exp. 1.9% (Prev. 2.6%)
Japanese National CPI Ex. Fresh Food YY (Jan) 2.0% vs. Exp. 1.8% (Prev. 2.3%)
Japanese National CPI Ex. Fresh Food & Energy YY (Jan) 3.5% vs. Exp. 3.3% (Prev. 3.7%)

2C ASIA AFFAIRS

TUESDAY MORNING/MONDAY NIGHT

2 d./NORTH KOREA/ SOUTH KOREA/

NORTH KOREA/SOUTH KOREA

END

2e) JAPAN

JAPAN

END

3 CHINA

CHINA/USA

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

SPAIN

Just what Spain needed: illegal arrivals into spain soar 500% in 2024

(Remix)

Illegal Arrivals Into Spain Soar 500% In 2024… But Socialist PM Rewards Morocco with €45BN Funding Package

TUESDAY, FEB 27, 2024 – 02:00 AM

Authored by Thomas Brooke via ReMix News,

The number of illegal migrants arriving on Spanish territory in the first six weeks of 2024 is almost six times more than the corresponding period last year, official figures show.

A total of 12,262 new arrivals by land and sea were recorded up to Feb. 11 compared with 2,568 arrivals in the first six weeks of 2023 — a difference of 493 percent, according to weekly data published by the United Nations High Commissioner for Refugees (UNHCR).

The vast majority of arrivals are boat migrants from Africa — 12,204 sea arrivals and 58 land arrivals were recorded.

The vast majority of newcomers are exploiting the geographical vulnerability of the Canary Islands, southwest of the Spanish mainland, where 10,902 migrants have landed so far this year. The extent of the crisis can be measured by the fact this figure is up 902 percent for the same period last year — a time when local leaders on the Spanish archipelago were already sounding the alarm regarding unsustainable levels of illegal immigration.

The total number of arrivals since the turn of the year is already more than a fifth of the total figure recorded last year, despite usually being a time of fewer crossings due to adverse weather conditions, and more than a third of all arrivals in 2022.

The most current figures provided by Spain’s interior ministry as reported by La Gaceta show the trend continuing with a total of 14,084 illegal arrivals so far this year.

The Socialist government in Madrid is under pressure to contain the crisis from conservative opponents and local government leaders in the migrant hotspots who have expressed security concerns.

The number of reported rape cases in the Canaries has skyrocketed amid the immigration surge in recent years, rising in 2022 to 167 cases compared to the 91 reported the previous year — an increase of 84 percent — and more than double the 73 cases recorded in the last pre-pandemic year of 2019.

The other major issue is the saturation of public services in the affected areas with Madrid, which have needed to create additional emergency accommodation for newcomers in disused military barracks and hotels on the Spanish mainland.

Footage is now widely circulated on social media of huge lines of migrants awaiting taxpayer-funded charter flights from the Canaries to Madrid in order to be dispersed throughout the country.

https://www.zerohedge.com/geopolitical/illegal-arrivals-spain-soar-500-2024-socialist-pm-rewards-morocco-eu45bn-funding

Remix News & Views

@RMXnews

WATCH: Hundreds of North African migrants lined up outside Tenerife North–Ciudad de La Laguna Airport on Thursday afternoon for their taxpayer-funded flights to the Spanish mainland, courtesy of the socialist government in Madrid. Almost 57,000 illegal immigrants arrived in Spain last year, primarily via the Canary Islands — 80 percent more than the previous year, according to

@rubnpulido

. Spain was the second-top destination for migrants across the Mediterranean in 2023, surpassed only by Italy. And still, they come — 300 migrants were transported by NGO vessels to the Canaries in the first two days of 2024.

0:08

9:16 AM · Jan 5, 2024

9,324 Views

WATCH: Hundreds of North African migrants lined up outside Tenerife North–Ciudad de La Laguna Airport on Thursday afternoon for their taxpayer-funded flights to the Spanish mainland, courtesy of the socialist government in Madrid.

Almost 57,000 illegal immigrants arrived in… pic.twitter.com/ZhToxtChO0— Remix News & Views (@RMXnews) January 5, 2024

The main Barajas airport in the Spanish capital has also had to extend capacity by 50 percent at its asylum center to accommodate greater numbers flying directly into Spain from North Africa.

Remix News & Views

@RMXnews

Madrid-Barajas airport has expanded its asylum holding area by 50 percent after an influx in arrivals led to overcrowding. More security staff and cleaners have also been recruited due to newcomers leaving the area in a squalid condition.

0:06

From

NTN24

7:58 PM · Feb 1, 2024

647 Views

More security staff and cleaners have also been recruited due to newcomers leaving the area in a squalid condition.pic.twitte r.com/9ZdpdlJaGk— Remix News & Views (@RMXnews) February 2, 2024

Spain’s left-wing prime minister, Pedro Sánchez, conducted a working visit to the Moroccan capital of Rabat on Wednesday to discuss, among other matters, the issue of illegal immigration.

At a press conference following his meeting with the Moroccan head of state, Mohammed VI, Sánchez announced plans to invest €45 billion of Spanish taxpayers’ cash to improve Morocco’s infrastructure and economy by 2050, leading conservatives to accuse the socialist politician of favoring the African nation at Spain’s expense.

Read more here….

end

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

ISRAEL HAMAS/KHAN YOUNIS/USA

Hamas’ Sinwar still in Khan Yunis, hiding behind hostages – report

In recent weeks, some reports have alleged that Yahya Sinwar had fled to Rafah or even into Egypt.

By JERUSALEM POST STAFF

Yahya Sinwar highlighted in a video published by the IDF on February 13, 2024 (photo credit: IDF SPOKESPERSON'S UNIT) — Yahya Sinwar highlighted in a video published by the IDF on February 13, 2024(photo credit: IDF SPOKESPERSON’S UNIT)

Hamas’ chief in Gaza Yahya Sinwar is believed to be hiding in tunnels under Khan Yunis, but getting to the terrorist leader will be difficult as he’s seemingly surrounding himself with a human shield of hostages, Israeli, US, and Western intelligence and security officials told The Washington Post on Monday.

According to the report, the central challenge in capturing or killing Sinwar will be trying to do so without killing or injuring nearby hostages.

“It’s not about locating him, it’s about doing something” without putting the hostages at risk, a senior Israeli official told the Washington Post.

Sinwar was born in Khan Yunis in 1962. He became infamous for murdering suspected Palestinian collaborators, gaining the nickname “the Butcher of Khan Yunis” and eventually landing in an Israeli prison until he was released in 2011 as part of the deal to release IDF soldier Gilad Schalit from Hamas captivity.

Earlier in the war, Israeli media reported that the defense establishment believed that Sinwar and the commander of Hamas’ al-Qassam Brigades, Mohammad Deif, were hiding under Khan Yunis, although, in recent weeks, some reports alleged that the two had fled to Rafah or even into Egypt.Yahya Sinwar leader of the Palestinian Hamas Islamist movement hosts a meeting with members of Palestinian factions, at Hamas President’s office in Gaza City, on April 13, 2022. (credit: ATTIA MUHAMMED/FLASH90)

The Elaph newspaper, run by a Saudi-British businessman, reported last week that Sinwar and Deif had managed to escape through a tunnel from Rafah to Egypt. The newspaper additionally claimed that there were eight large tunnels, big enough for cars and small trucks, running between Rafah and Egypt. The report has been rejected by Israeli sources.

The hunt for Sinwar under Gaza

The Washington Post report published on Monday noted that, since the war began, Israeli soldiers have discovered Hamas administrative files, computers, and phone directories indicating various offices located in the network of hundreds of miles of tunnels located under Gaza.

US intelligence analysts are helping Israel with some of the mapping of the tunnel system through the aid of powerful analytic technologies that piece together fragments of information, officials knowledgable about the efforts told the Washington Post. The US analysts have also been helping with analyzing intercepted communications and data from recovered hard drives.

There are no US intelligence personnel on the ground in Gaza and the US is not helping Israel with the day-to-day efforts to find and strike Hamas fighters and facilities, according to the report. When asked if the US was helping Israel fight the war, a former Mossad officer told the Washington Post that “the question itself is offensive.”

Go to the full article >>

ISRAEL/RAFAH/

ISRAEL/KHAN YOUNIS/

ISRAEL WEST BANK//

Three Palestinians killed in clashes with Israeli forces in West Bank

Ahmed Daraghmeh, a commander of the PIJ-affiliated Tubas Battalion terrorist group, was killed in clashes overnight.

By JERUSALEM POST STAFFFEBRUARY 27, 2024 04:17Updated: FEBRUARY 27, 2024

People with guns attend the funeral of Palestinians killed during an Israeli raid in Far'a camp, amid the ongoing conflict between Israel and the Palestinian terrorist group Hamas, at the camp, near Tubas in the West Bank. (photo credit: RANEEN SAWAFTA/REUTERS) — People with guns attend the funeral of Palestinians killed during an Israeli raid in Far’a camp, amid the ongoing conflict between Israel and the Palestinian terrorist group Hamas, at the camp, near Tubas in the West Bank.(photo credit: RANEEN SAWAFTA/REUTERS)

Three Palestinians were killed and three others were injured in clashes with Israeli forces in Tubas and El Far’a Camp in the West Bank early Tuesday morning, according to Palestinian reports.

One of the three Palestinians killed was identified as Ahmed Daraghmeh, a commander of the Palestinian Islamic Jihad-affiliated Tubas Battalion terrorist group.

According to Palestinian media, the other two Palestinians killed in the clashes were Osama Jabr Al-Zalat and Muhammad Samih Bayadsa, both from El Far’a.

Clashes erupt in Tubas and El Far’a

Early Tuesday morning, Israeli forces raided El Far’a, with armed clashes breaking out in the town between the forces and Palestinian terrorists. During the clashes, the terrorists threw explosives at the Israeli forces.

People react as they mourn the Palestinian terrorists killed in clashes Israeli forces during a raid, at a hospital in Tubas, in the West Bank, February 27, 2024. (credit: RANEEN SAWAFTA/REUTERS)

Later, Israeli forces entered Tubas, located north of El Far’a, leading to further clashes during which Daraghmeh was killed.

Residents of Tubas and El Far’a declared a strike on Tuesday in response to the deaths.

Related Tags

ISRAEL/HEZBOLLAH

Hezbollah rains 60 rockets down on Golan in retaliation for Israeli strikes

The IDF killed a Hezbollah commander around 100 kilometers into Lebanon.

By YONAH JEREMY BOB, JERUSALEM POST STAFF

Flares, fired from the Israeli side, burn in the sky as seen from Ramyah near the Lebanese-Israeli border, in southern Lebanon, October 11, 2023 (photo credit: REUTERS/THAIER AL-SUDANI) — Flares, fired from the Israeli side, burn in the sky as seen from Ramyah near the Lebanese-Israeli border, in southern Lebanon, October 11, 2023(photo credit: REUTERS/THAIER AL-SUDANI)

Hezbollah on Monday fired dozens of rockets toward the Golan in a significant departure from its general focus on the northern Galilee.

The Lebanese terrorist group said it was aiming for an IDF Golan base in retaliation for Israeli strikes near the city of Baalbek, which were themselves unusually deep strikes into Lebanon’s territory.

Baalbek is around 100 kilometers away from the Israeli border and is in Lebanon’s northeast, whereas most IDF attacks to date have been focused only on southern Lebanon, or on Beirut, which is still much further south than Baalbek.

No injuries reported

There were no reports of injuries from what Hezbollah said was a 60-rocket barrage.

The IDF did not say how many rockets were fired, but the Home Front Command only recorded 20 rocket sirens, appearing to ignore much of the Golan rocket fire as not dangerous during this round.An Israeli air defense system intercept rockets fired from Lebanon as it seen from the Israeli side of the border, on November 7, 2023. (credit: AYAL MARGOLIN/FLASH90)

Occasionally, Iranian-affiliated militias from Syria have fired small numbers of rockets on the Golan, but nothing near Monday’s volume from Hezbollah; the Golan has mostly remained quiet recently.

Continuing the rounds of retaliation, the IDF later said it had killed senior Hezbollah official Hassan Hussein Salami in an airstrike on southern Lebanon.

Salami, whose rank is the equivalent to that of a brigade commander, was hit on the way to the southern Lebanon village of Majadel. This was one of the rare cases where the IDF intentionally took credit for the assassination.

According to the IDF, Salami commanded one of Hezbollah’s regional units, including managing attacks on IDF troops and Israeli communities in northern Israel, especially Kiryat Shmona.

Further, they said Salami was involved in directing the Hezbollah attack on an IDF base – Brigade 769.

The IDF appeared to take public credit due to Salami’s role in attacks on IDF bases, something the IDF has tolerated less than Hezbollah attacks on empty evacuated villages.

In contrast, the IDF usually does not take credit for assassinations in Lebanon, nor does it for most specific operations in Syria – though it admits to having attacked Iranian-affiliated targets in Syria thousands of times in recent years.

According to Reuters, at least two simultaneous strikes hit around Lebanon’s city of Baalbek, two security sources said.

An Israeli man was injured by a barrage of rockets fired at Moshav Shtula in the Galilee by Hezbollah on Monday.

Earlier on Monday, Hezbollah said it had shot down an Israeli Hermes 450 drone over Lebanese territory with a surface-to-air missile, the second time it has announced a downing of this type of unmanned aerial vehicle (UAV).

The Hermes 450 is a multi-payload drone made by Elbit Systems, an Israel-based weapons manufacturer.

The Israeli military stated earlier on Monday that two missile launches had targeted an Israeli Air Force UAV operating over Lebanon. The first, it said, was intercepted by Israel’s David’s Sling aerial defense system, but the drone “fell inside Lebanese territory” after the second missile attack.

“The David’s Sling aerial defense system intercepted a surface-to-air missile that was fired toward an Israeli Air Force UAV operating in Lebanon,” the IDF said in a statement. “Following the launch of the interceptor, sirens were sounded in the area of Alon Tavor in northern Israel.

No injuries were reported.

A short while after, an additional missile launch toward the UAV was identified and the UAV fell inside Lebanese territory.

The timing of the IDF’s decision to attack deeper into Lebanese territory seemed to come as a response to Hezbollah’s shooting down of the IDF drone.

Meanwhile, Defense Minister Yoav Gallant on Monday said that the evacuated northern residents will not return to their cities and homes before the hostages held by Hamas were returned.

In a meeting with hostage’ families, he reassured them that Israel was doing everything both militarily and diplomatically to bring back the around 100 living hostages, and the 30-plus bodies of hostages who were killed.

Although his formulation that northern residents would need to wait to return home until the hostages are released was in some ways not surprising. This was also a more explicit admission than usual that it will likely be months before the threat from Hezbollah is neutralized, even if a temporary ceasefire with Hamas is reached.

Hezbollah has said that it will cease attacking Israel the moment a ceasefire is reached with Hamas that would prevent Israel from launching new military activities within Gaza.

However, Gallant has consistently reiterated that the IDF will continue to attack Hezbollah until all of its forces were pushed back from the border with Israel all the way to an approximate point north of the Litani River.

Since even the current possible hostage deal describes an initial period of 45 days followed by another length of time spanning into months until a full hostage exchange is completed, this could easily take the continued evacuation of northern residents into the summer months.

Possibly not incidentally, on Sunday the government extended special rights for northern evacuees until July 7.

In the South, IDF Division 162, along with the Nahal Brigade and engineering forces, unearthed an underground tunnel network that connects the north and south of the Gaza Strip, the military announced on Monday.

The underground routes run for some 10 km. and pass under a hospital and a university.

After gaining operational control of the network, soldiers examined and destroyed large portions of it.

This was not the first such north-south extended Gaza tunnel, but its discovery and destruction is another sign of the gradual progress of the IDF in taking apart Hamas’s tunnel infrastructure.

Fully destroying that infrastructure is expected to take years.

Reuters contributed to this report.Go to the full article >>

END

ISRAEL/LEBANON/BEKAA VALLEY

Israel Attacks Lebanon’s Bekaa Valley For First Time Of War, 100km From Border

MONDAY, FEB 26, 2024 – 10:40 PM

Israel on Monday unleashed a wave of airstrikes on a location in eastern Lebanon which had yet to be targeted in the war. Several attacks were conducted on the outskirts of Baalbek in the Bekaa Valley. This area hasn’t been struck by Israeli fire since the 2006 war.

The Bekaa Valley has long been considered a Hezbollah stronghold and Israel choosing to attack it signals a definite expanse and escalation of the ongoing conflict far beyond the south Lebanon border region, given it lies a full 100km from said border. The Israel Defense Forces (IDF) confirmed in a statement that it struck “Hezbollah terror targets deep inside Lebanon.”

Targets hit reportedly included a convoy of trucks and sites connected to Hezbollah’s areal defense systems. At least two people were killed in the attacks, Reuters reports. The two had been working in a food warehouse run by Hezbollah.

Earlier in the day an Israeli drone was downed by Hezbollah over Lebanon. Israel’s military said the fresh Bekaa operation was in response to the earlier launch of a surface-to-air missile by the Iran-backed paramilitary group.

Social media videos reportedly from one of the strike locations in Bekaa Valley shows a damaged and burned truck and SUV amid an expanse of rubble strewn across a roadway.

مشاهد إضافية للآثار الغارة الإسرائيلية على بعلبك pic.twitter.com/EdGUCrPxof— bintjbeil.org (@bintjbeilnews) February 26, 2024

Hezbollah has unleashed large waves of missiles on northern Israel throughout the day, with one missile having fallen near a synagogue close to Nazareth.

Specifically Hezbollah sources said that in response to Israel’s Bekaa attack its militants fired at least 60 rockets at an Israeli army headquarters in Golan Heights.

Hezbollah politician Hassan Fadlallah announced of the Israeli strikes reaching far into Lebanese territory, even near the Syrian border that “Its aggression on Baalbek or any other areas will not remain without response.”

Israeli bystanders filmed the following dramatic video as rockets rained down…

⚡️#BREAKING Missiles fired by Hezb-Allah fell on positions of zionist forces in the Golan Heights pic.twitter.com/ojRXZvqE6q— War Monitor (@WarMonitors) February 26, 2024

On Sunday, Israeli Defense Minister Yoav Gallant warned that even if a deal with Hamas is achieved in the Gaza Strip, this doesn’t mean fighting with Hezbollah will stop:

“If a temporary pause is reached in Gaza, we will increase the fire in the north separately, and will continue until the full withdrawal of Hezbollah [from the border] and the return of Israeli citizens to their homes,” he said.

Israeli Golan base targeted by massive missile barrage, sending personnel scrambling for bomb shelters…

اعلام العدو:
هروب الجنود لحظة استهداف القاعدة في الجولان pic.twitter.com/EOki4cEsww— راصد #اعرف_عدوك (@rasseed01) February 26, 2024

As of last week (Feb.18), Israel had begun to strike deeper into Lebanon, expanding its strikes far beyond the border region in the south. Large airstrikes rocked a town near Sidon, which lies 60km from the border.

The Lebanese government fears the war might at any moment encompass the whole country, as it did in 2006 when Beirut International airport was bombed. Israel has demanded that the government reign in Hezbollah, but it reality it doesn’t have the power or military capability to do so, as the Lebanese Army is ill-equipped.

end

USA/HOUTHIS/

Afraid of this; Houthis have knocked out at least 4 undersea internet cables

(zerohedge)

Houthis Have Knocked Out Several Undersea Internet Cables: Report

MONDAY, FEB 26, 2024 – 06:00 PM

There are new reports saying Yemen’s Houthis have knocked out several underwater telecommunications cables linking Europe and Asia, however, some of the accounts of the extent of damage remain conflicting.

Multiple Israeli publications are reporting Monday that four underwater communications cables between Saudi Arabia and Djibouti have been damaged in recent months – the result of Houthi sabotage. The reporting appears to have originated in Israel’s financial daily outlet Globes.

But one industry publication cautions, “One cable operator has confirmed damage to a cable in the region, but said it didn’t know the cause yet.” Reportedly only the Seacom operator has issued confirmation that it has had cable issues at Djibouti.

According to the Israeli media report:

Three months after the Houthis began attacking merchant ships, the Yemenite rebels have carried out another one of their threats. “Globes” has learned that four submarine communication cables have been damaged in the Red Sea between Jeddah in Saudi Arabia and Djibouti in East Africa.

According to the reports, these are cables from the companies AAE-1, Seacom, EIG and TGN. This is causing serious disruption of Internet communications between Europe and Asia, with the main damage being felt in the Gulf countries and India.

Other impacted cables are operated by the companies Tata, Ooredoo, Bharti Airtel, and Telecom Egypt, but these did not issue immediate comment or confirmation as to the reported damage or outages.

But the Seacom outage is now being confirmed by NetBlocks…

⚠️ Confirmed: Metrics show a disruption to network connectivity at the Djibouti Data Center which connects the country’s landing stations; the incident comes as Israeli media report four submarine cables across the Red Sea including SEACOM have been targeted by Houthi rebels ✂️ pic.twitter.com/tjlBLAgYd4— NetBlocks (@netblocks) February 26, 2024

Israel’s Globes says repairs could take up to eight weeks, but the waters in the region remain high risk due to what are now daily Houthi attacks on Red Sea shipping. The Houthis have lately made veiled threats they could take out the underwater fiber optic cables.

“The repair of such a large number of underwater cables may take at least eight weeks according to estimates and involve exposure to risk from the Houthi terror organization,” the report says. “The telecommunications companies will be forced to look for companies that will agree to carry out the repair work and probably pay them a high risk premium.”

Analyst Alberto Rizzi has explained that “at low depths, trained divers/ship anchors are enough to damage them” and that “Bab-el-Mandeb/Aden is a chokepoint where damage can impact multiple cables at once.”

end

US military says it destroyed Houthi drone boats, anti-ship cruise missiles

By REUTERSToday, 3:56 am

WASHINGTON — The US military says it has destroyed three unmanned surface vessels and two anti-ship cruise missiles that were prepared to launch towards the Red Sea from Houthi-controlled areas of Yemen.

The US military’s Central Command also says on X, formerly known as Twitter, that it destroyed a aerial drone that was over the Red Sea. All the weapons “presented an imminent threat to merchant vessels and to the US Navy ships in the region,” it says.

end

UKRAINE VS RUSSIA//

Now that did not take long! First M1 Abrams tank destroyed in Ukraine

(zerohedge)

First M1 Abrams Tank Destroyed In Ukraine Shortly After Appearance On Battlefield

TUESDAY, FEB 27, 2024 – 02:45 AM

Russian forces claim they have successfully destroyed an American-supplied M1 Abrams main battle tank for the first time, coming two full years into the Ukraine war, outside the captured city of Avdiivka in the Donetsk region.

The US-made advanced tank was reportedly taken out by a kamikaze drone or loitering munition launched by Russia’s 15th Motorized Rifle Brigade. Russian state media accounts made the announcement Monday and published video purporting to show the destruction of the M1 Abrams main battle tank.

“Footage circulating online purports to show the vehicle with a large column of fire rising from its turret,” RT wrote. “It was reportedly targeted by a FPV suicide drone and sustained at least one hit from a shoulder-mounted anti-tank grenade launcher.”

The attack is said to have happened in or near the village of Berdychi, which lies northwest of Avdeevka. Ukraine forces are reportedly in retreat from the city after Russia’s recent capture of it last week.

The introduction of Western main battle tanks into Ukraine appears to have made little or no actual difference in giving Ukraine a tactical advantage.

Instead, starting last spring Russian media widely circulated images showing German-made Leopard 2 tanks burning. And then in September the first UK-supplied Challenger 2 was destroyed.

Below: the widely circulating new footage purporting to show the first destruction of an Abrams main battle tank in Ukraine…

🇷🇺⚡️🇺🇦 BREAKING: The first American M1 Abrams Tank has been destroyed in Ukraine 🪖 pic.twitter.com/dsSKsjKj5z— World War Now (@WorldWarNow_) February 26, 2024

So to some degree, these tanks being lost in battle has become a humiliation for Ukraine’s Western backers, and is at the same time an immense PR victory for the Russians.

Ironically it was only last Friday that Business Insider reported on the first Abrams spotting on the battlefield:

Newly released video footage offers a first look at the heavy US-made Abrams tank in combat in Ukraine.

When the US delivered the tanks to Ukraine last fall, it added significant capabilities to Ukraine’s ground forces. It comes with challenges as well, but the American-made tank is widely considered to be among the most capable in the world.

Only last Friday…

Abrams in action.

📹: 47th Mechanized Brigade pic.twitter.com/Xd0cPEPu57— Defense of Ukraine (@DefenceU) February 23, 2024

Over a year ago the Kremlin warned: “If a decision to transfer to Kiev M1 Abrams is made, American tanks without any doubt will be destroyed as all other samples of NATO military equipment.” Other Russian officials have since warned that Abrams tanks will “burn” on the battlefield, according to TASS.

Ukraine has reportedly received 31 Abrams tanks in total, but there are reports not all of them have been deployed to the battlefield yet. Ukrainian operators had to undergo at least six months to a year of specialized training from US advisers, but it’s also possible these tanks were prematurely rushed to the battlefield with crews unprepared for direct battle.

6.Global Issues//

COVID ISSUES/VACCINE ISSUES

Study Finds Increasing Time Between COVID Vaccine Doses Reduces Risk Of Myocarditis, Yet Cardiologists Raise Concerns

TUESDAY, FEB 27, 2024 – 03:30 AM

Authored by Megan Redshaw via The Epoch Times (emphasis ours),

New research suggests increasing the interval between vaccine doses or using a single dose may significantly lower the risk of heart inflammation caused by mRNA COVID-19 vaccines. Yet some cardiologists are concerned about asymptotic myocarditis and say any risk of heart inflammation in a population group that’s not at risk of experiencing severe COVID-19 is too much.

In a February peer-reviewed paper published in NPJ Vaccines, researchers in Hong Kong observed a significantly lower cumulative incidence of carditis, or heart inflammation, among adolescents who received their second vaccine dose more than 56 days after their first dose compared with those who received their second dose within 21 to 27 days. A second analysis showed that increasing the time between the first and second vaccine doses decreased the risk of heart inflammation by 66 percent. Researchers compared the risk of carditis between standard and extended interdose intervals in 12- to 17-year-olds who received two doses of Pfizer’s COVID-19 vaccine.

Among 143,636 adolescents who received at least one dose of Pfizer’s COVID-19 vaccine, 130,970 (91 percent) received a second dose. Approximately 43 percent of these adolescents received their second dose at an extended interval. During the study period, a total of 84 adolescents were hospitalized for conditions related to heart inflammation within 28 days of the second vaccine dose. After implementing exclusion criteria, 49 cases remained and were attributed to COVID-19 vaccination.

The incidence of heart inflammation was higher in males than females.

In a subgroup analysis among male adolescents, the incidence of carditis was significantly lower in the extended interval group compared with the standard group, with 22 versus 88 cases per million, respectively. In contrast, the incidence of heart inflammation was similar among females vaccinated at standard and extended dose intervals.

The researchers said their findings are consistent with other studies that show young males are at a higher risk of mRNA vaccine-related heart inflammation, although the absolute risk is low and that an interval between vaccine doses greater than 56 days could help reduce the risk of heart inflammation in adolescents.

Cardiologist: Vaccinating Healthy Adolescents Is ‘All Risk’

Pediatric cardiologist Dr. Kirk Milhoan told The Epoch Times that he doesn’t necessarily disagree with the study’s findings, but even a small risk of heart inflammation for adolescents who are not at risk from COVID-19 is too much.

“Before we do any procedure like a medicine, vaccination, or surgery, I look to see if the benefit outweighs the risk or if there’s any benefit at all. A recent paper out of the Cleveland Clinic showed that with more vaccines comes an increased risk of experiencing COVID-19. Once data is available from a reputable study, we must then ask if there’s any benefit to vaccination for the majority of people,” he said.

Referencing the current Hong Kong study, Dr. Milhoan said researchers only looked at myocarditis among hospitalized patients, but he is concerned about people with silent myocarditis from the COVID-19 vaccine, which is why he checks troponin levels. Even a slightly elevated troponin level can be indicative of heart damage.

“If you spread out the doses of the Pfizer product, which has a pseudo mRNA that may have asked the body to make a spike protein we now know is cardiotoxic and directly correlated with myocarditis, fewer people got hospitalized, but people still got hospitalized,” Dr. Milhoan said.

“If you get a large dose of toxin very close together, that’s probably harder on your body than if you spread it over time, but what I believe is that we don’t need the vaccine for this very, very healthy cohort that doesn’t have trouble with COVID. We’re basically giving them all risk even if it’s less risk with no benefit,” he added.

Heart Inflammation Is Higher Due to Asymptomatic Cases

Pfizer’s COVID-19 vaccine was first made available in Hong Kong in June 2021 with a recommended dose interval for adults and adolescents of 21 days. After a local pharmacovigilance study in January 2022 showed an increased risk of heart inflammation among adolescents who received two vaccine doses, the Department of Health in March 2022 recommended the interval between the first and second vaccine doses be increased to 56 days.

Although the Centers for Disease Control and Prevention (CDC) originally recommended a three-week interval between the first and second COVID-19 vaccine doses, it recommended the interval be increased in 2022 to eight weeks for Pfizer and Moderna to reduce the risk of heart inflammation.

In a Feb. 15 hearing by the Select Subcommittee on the Coronavirus Pandemic, Dr. Peter Marks, director of the FDA’s Center for Biologics Evaluation and Research, said myocarditis, or heart inflammation, is one of the “rare” adverse events the agency identified with COVID-19 vaccines, but with “mitigation strategies in place,” the occurrence has decreased.

“After the first COVID-19 vaccine where the primary series given two doses three or four weeks apart, there was a risk in the younger age range of males that was about 1 in 10,000 to 1 in 20,000 individuals got myocarditis. Now, with the spacing out of the vaccines, that risk is almost undetectable,” Dr. Marks told the committee.

“There was a signal for myocarditis or pericarditis only after the primary vaccination series with the Pfizer mRNA vaccine in those 12 to 17 years of age, and that now that signal is not being seen more recently. So I think we’ve learned something with how to deploy the vaccines and I think that’s why the CDC … has changed their recommendations for how they be used,” he added.

In an email to The Epoch Times, cardiologist Dr. Peter McCullough said he believes Dr. Marks and the FDA have failed to keep up with the evolving medical literature on COVID-19 and vaccine-induced myocarditis.

After reviewing multiple peer-reviewed publications on myocarditis, Dr. McCullough made the following conclusions:

1. Vaccine myocarditis occurs in about 2.5 percent of vaccine recipients per administration—and half of the cases are asymptomatic.

2. The incidence of myocarditis is heavily influenced by age and gender, with young men ages 18 to 24 being most at risk.

3. COVID-19 vaccine-induced myocarditis is fatal in cases examined at autopsy.

end

GLOBAL ISSUES

MARK CRISPIN MILLER

Kansas’ Phil Ehart has major heart attack; Bears’ Steve McMichael needs blood transfusion; Jay McInerney has brain surgery; Toni Braxton’s near-fatal health scare; Amy Schumer’s “puffy, swollen face”

“Sutton Stracke suffers terrifying medical emergency while filming ‘RHOBH’ reunion”; triathlete Lesley Patterson’s husband has Stage 4 pancreatic cancer; soap star Lana Clay’s “rare disorder”; more

MARK CRISPIN MILLERFEB 27

READ IN APP

UNITED STATES

Rock band Kansas to carry on after its drummer, Phil Ehart, suffers a major heart attack

February 23, 2024

Topeka native Phil Ehart, the drummer for the rock band Kansas, is taking time off from touring after suffering a heart attack.

Topeka native Phil Ehart, the drummer and manager for the progressive rock band Kansas, recently survived a major heart attack, the group announced Friday on its Facebook page. Ehart, 73, is taking time away from the band’s 50th anniversary tour, titled “Another Fork in the Road,” as he recovers, that page said. “There is no timetable for his return to the road,” it said. “While not on the road, Phil is remaining in a prominent role with Kansas during his recovery, serving as band manager, as he has done for 40 years,” the band’s Facebook page added.

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

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Author Jay McInerney recovering from brain surgery after ‘bloody’ incident at home — but finished a novel, smuggled champagne into ICU

February 21, 2024

Jay McInerney — the literary enfant terrible and chronicler of ’80s Yuppie excess, who later became Town & Country’s wine critic and a member of America’s foremost families himself — has just polished off his latest novel while dramatically recuperating from emergency brain surgery. The author had a dizzy spell and fell, only to wake up the next morning to find “blood all over the bedroom, the bathroom, the hallway, the bed and the pillow.” “A CAT scan eventually revealed two Subdural hematomas inside my skull,” he wrote. “I was pretty dizzy and my vision was blurry and sometimes doubled and the next few weeks are a little vague. So I apologize if I kind of disappeared during recent weeks. Email got ignored. I tried to make lists but it didn’t really help. I forgot to look at the lists. And I took a lot of naps, a talent I never really possessed before.” He had a “two-hour brain procedure” as a result. But after that, “My CAT scan to check on the procedure two weeks later wasn’t too good,” recalls McInerney in his missive. “I was just on my way out to dinner last Monday night when I got a call from the hospital insisting that I go to the emergency room immediately. Naturally, I said, ‘Well, can’t I go to dinner first?’” While McInerney swore to pals, “I will try to act like a normal convalescent for a while. Can’t promise that will last for too long” in the letter, he nevertheless told us when reached for comment on Tuesday that he’s “been writing like a fiend,” and, “actually finished a novel a few days ago.”

No age reported.

Link

Amy Schumer breaks silence over ‘puffy and swollen’ face and admits health battle

February 16, 2024

Amy Schumer has broken her silence after she sparked concern with her “puffy and swollen” face this week. A clip quickly went viral after Amy, 42, appeared on Wednesday’s episode of The Tonight Show with Jimmy Fallon. She wrote on social media: “Thank you so much for everyone’s input about my face. I’ve enjoyed feedback and deliberation about my appearance as all women do for almost 20 years. And you’re right, it is puffier than normal right now.” The Hollywood star explained: “I have endometriosis, an autoimmune disease that every woman should read about. There are some medical and hormonal things going on in my world right now but I’m okay.”

Link

Toni Braxton says she ‘dismissed’ symptoms that could’ve led to heart attack

February 21, 2024

Toni Braxton faced an almost fatal health scare several months ago. The “Un-Break My Heart” singer is sharing exclusively with the TODAY show how systemic lupus erythematosus (SLE) “attacked” her heart and she needed to have a coronary stent placed to prevent a heart attack. “It (was) put in at a really, really scary moment,” the 55-year-old tells TODAY, adding that the experience felt “surreal.” Braxton is a paid spokesperson with Aurinia Pharmaceuticals’ Get Uncomfortable campaign, which encourages people living with lupus nephritis, a common complication of SLE, to complete routine testing to prevent kidney damage. Braxton tells TODAY that she had a doctor’s appointment she was considering skipping because she thought she was “fine.” Still, she went, and her doctor told her she needed a stent (a device used to hold open passages in the body) placed “immediately,” she says. “A couple days after they did the procedure they told me that it was touch and go,” Braxton told TODAY’s Hoda Kotb and Jenna Bush Hager. The Grammy winner was experiencing chest pains indicating something was off with her health, but she thought they were from grief over the death of her sister Traci, who passed away in March 2022, TODAY.com reported. Braxton says that if she hadn’t gone to the doctor, she could’ve had widow-maker heart attack, a type of heart attack that occurs when someone has a complete blockage of the left anterior descending artery, the largest artery in the heart, according to the Cleveland Clinic. “I would have had a massive heart attack and would not have survived,” she says.

Link

Sutton Stracke suffers terrifying medical emergency while filming ‘RHOBH’ reunion

February 21, 2024

A paramedic sitting by Sutton Stracke on the "RHOBH" reunion

Sutton Stracke suffered a health emergency while taping the Season 13 reunion of the “Real Housewives of Beverly Hills.” In the trailer released Wednesday, the socialite is sitting next to host Andy Cohen and fellow co-star Garcelle Beauvais when former “friend” of the cast Kathy Hilton walks in, shocking the “Housewives.” As the fashion designer walks to sit next to her sister Kyle Richards, everyone stares at her before Stracke starts gasping for air in a seemingly unrelated incident. When the camera pans over to Stracke, the 52-year-old is struggling to breathe and leaning into Beauvais, who is holding on to her. She also begins to shake which Cohen points out as he tries to fan her with his cue cards before her hands swell up to the point of turning purple. “Can we call somebody please?” an alarmed Beauvais asks as Stracke looks around disoriented. “You’re shaking, you’re shaking, you are really shaking,” Cohen also tells her before a paramedic — as well as certified registered nurse anesthetist Annemarie Wiley — come over to her. “Oh my God, that’s scary,” Dorit Kemsley says before the trailer ends. Although it’s unclear what exactly happened to Stracke, it appears that she’s recovered since she recently jetted off to Cabo San Lucas, Mexico, with her son and his friends.

Link

Daughter-In-Law Of Cheng Pei Pei Diagnosed With Stage 4 Breast Cancer 5 Months After Having First Kid

February 17, 2024

Thanksgiving is a time to count your blessings, but host Harry Yuan and his wife Andrea Loeffler, son and daughter-in-law of Crouching Tiger, Hidden Dragon star Cheng Pei Pei, could not have received worse news. 39-year-old Andrea, a chef and artist, was diagnosed with stage 4 breast cancer, just five months after giving birth to their first child Kai in June. Earlier this week, Harry, 38, took to Instagram to reveal the heartbreaking news, saying it came as a huge shock to them as they are both very health conscious. It was also a particularly a huge blow as they had just welcomed their son and had to wean him over a year earlier than expected. For Andrea, the past few months have been a rollercoaster of emotions to say the least. She had always longed to be a mother but “never thought it would look like this”. The cancer is “fast growing” and has spread to Andrea’s lymph system, and finding the right treatments has been a “rollercoaster ride”. Andrea began treatment last month, integrating both western and eastern medicine.

Link

Tragedy for Hollywood’s latest rising star: Five-time triathlon world champ Lesley Patterson was the toast of Tinseltown after writing Oscar-winning All Quiet on the Western Front – but her career has now come to a tragic halt

February 24, 2024

Eleven months ago, five-times world champion triathlete Lesley Paterson was on top of the world.

The screenwriter was the toast of Hollywood as the movie she fought to be adapted for the big screen, ‘All Quiet on the Western Front,’ won four Oscars, including best foreign film.

The First World War movie won a record seven BAFTAs, including best film and best adapted screenplay.

But Ms Paterson’s Hollywood dreams came to a screeching halt at the end of last year when her sports psychologist husband of 22-years, Dr. Simon Marshall, was diagnosed with Stage 4 pancreatic cancer.

In a moving post on Instagram, the couple – who moved to California to pursue their movie dreams full-time – vowed to beat the devastating diagnosis with Ms. Paterson saying: ‘2023 was filled with the biggest of bigs, the highest of highs, the lowest of lows.

https://www.dailymail.co.uk/news/article-13121861/screenwriter-Hollywood-penning-adaptation-Oscar-winning-pancreatic-cancer.html

The mother of General Hospital’s Joey and Jay Clay has been diagnosed with a rare disorder

February 21, 2024

Lana Clay is the mother of Joey and Jay Clay the adorable twins who portray Ace Cassadine on General Hospital. Soap Hub says Lana recently shared a health update on X related to being diagnosed with the rare adrenal deficiency disorder Addison’s disease. Soap Hub reported earlier that Mark Clay revealed that his wife spent time in the ICU because of sepsis and very low blood pressure. Lana is now at home and posted this message on X.

No age reported.

Link

Bears great Steve McMichael contracts another infection, undergoes blood transfusion, family says

February 17, 2024

Chicago Bears great Steve McMichael has contracted another infection and was undergoing a blood transfusion days after being admitted into intensive care at a suburban Chicago hospital, his family said in a statement Saturday. The family said the 66-year-old McMichael — who went public with an ALS diagnosis three years ago — contracted MRSA, a staph infection that can be difficult to treat because it is resistant to certain antibiotics. McMichael was hospitalized Thursday with what was initially thought to be pneumonia. He was diagnosed with a urinary tract infection. The family said Friday he was responding to antibiotics and was having fluid removed from his lungs, and he was expected to be released in the coming days. McMichael was diagnosed with ALS in 2021.

Link

A Disney cast member who suffered a devastating fall during a live performance inspired by Disney’s Beauty and the Beast (1991) over the weekend is reportedly “fighting for her life.”

February 14, 2024

Belle performer injured on Disney on Ice

On Saturday, 31-year-old Anastasia Olsen, a professional ice skater who portrays Belle in the Beauty and the Beast-inspired performance for Disney on Ice, was seriously injured when she suffered a devastating fall during Disney’s Magic in the Stars show at Target Center in Minneapolis, Minnesota. According to eye-witness accounts, Olsen appeared “shaky” before her fall, just as she was being lifted into the air as part of the performance she shared with another actor who portrayed Beast in the show. Other witnesses say the actress began exhibiting signs of seizure immediately following the accident, though it’s not clear whether Olsen did, in fact, suffer a seizure. Olsen’s fall prompted immediate emergency medical attention, and paramedics quickly arrived and transported the actress to Hennepin County Medical Center in Minneapolis.

Link

DR PAUL ALEXANDER

Why would the Japanese Ministry of Health Increase its COVID mRNA technology Vaccine Health Damage Budget by a Staggering 110 Times vs Previous Estimates? What caused this? LIONESS OF JUDAH MINISTRY

indicates that they are expecting massive damages from the Malone, Bourla, Bancel, Weissman, Sahin, Kariko et al. mRNA technology gene based mRNA vaccine; I myself think so, millions will die, sadly

DR. PAUL ALEXANDERFEB 27

READ IN APP

Exposing The Darkness

Safe and Effective: Japanese Ministry of Health Increased COVID Vaccine Health Damage Budget by a Staggering 110 Times vs Previous Estimates

Exposing The Darkness is a reader-supported publication. To support my work, please consider becoming a paid subscriber. One-time or recurring donations can be made through Ko-Fi: By aussie17 Japanese Ministry of Health increased COVID vaccine Health Damage Budget by a staggering 110 times vs previous estimates. They are expecting a lot of health damages…

SLAY NEWS

The latest reports from Slay News

Top Cardiologist Raises Alarm over Damage Found in Vaxxed Patients A leading cardiologist has raised the alarm over the devastating side effects of Covid mRNA shots, warning he has “never witnessed such harm from a therapeutic intervention.”READ MORE

Deadly Virus Spreading in Brazil after Bill Gates’ ‘Gene-Edited Mosquitos’ Released An outbreak of a deadly virus is spreading in Brazil after millions of “gene-edited mosquitos” were released into the wild.READ MORE

Jewish Comedian Jerry Seinfeld Targeted by Pro-Hamas Mob in NYC: ‘Nazi Scum!’Legendary sitcom star Jerry Seinfeld was met by an aggressive mob of angry pro-Hamas protesters who yelled out anti-Semitic obscenities at the Jewish comedian as he left an event in New York City.READ MORE

Trump Appeals NY Judge Engoron’s $350 Million ‘Fraud’ Case Ruling President Donald Trump has appealed the politically motivated ruling by radical Judge Arthur Engoron in the civil “fraud” case brought by New York Attorney General Letitia James.READ MORE

Hunter Biden Claims He’s Staying Sober to ‘Fight for the Future of Democracy’ by Stopping Trump Democrat President Joe Biden’s son Hunter has claimed that he is staying sober so he can focus on the critical 2024 election.READ MORE

Ronna Romney McDaniel to Resign as RNC Chair after Super Tuesday Ronna Romney McDaniel will formally resign from her position as the Republican National Committee (RNC) chairwoman after the March 5 Super Tuesday primaries.READ MORE

Biden Now Has Seven Possible Replacements for 2024, Report Shows As calls mount for President Joe Biden to step down, a new report shows that the Democrats have seven possible replacements for the embattled commander-in-chief.READ MORE

CPAC 2024 Straw Poll Shows Two Clear Favorites for Trump’s VP The results of the Conservative Political Action Conference’s (CPAC) 2024 straw poll have revealed two clear favorites for President Donald Trump’s running mate.READ MORE

Biden’s Commerce Chief Raises Alarm over ‘National Security Concerns about Electric Vehicles’ Manufactured in China Democrat President Joe Biden’s Commerce Department chief has spoken out to raise the alarm over “national security concerns about electric vehicles,” in direct conflict with the green agenda of the White House.READ MORE

Lord Jacob Rothschild Dead at 87 Lord Jacob Rothschild has died at the age of 87, the powerful globalist billionaire’s family announced today.READ MORE

BLM Leader: ‘Slightly Racist to Be a Taylor Swift Fan’One of the co-founders of the Black Lives Matter organization has declared being a fan of pop singer Taylor Swift makes a person “slightly racist.”READ MORE

Trump’s Attorneys Push for Jack Smith’s Case to Be Dismissed Attorneys representing President Donald Trump are arguing that Special Counsel Jack Smith’s case must be dismissed. READ MORE

EVOL NEWS:

CIA maintains 12 secret bases in Ukraine, CIA head was in Kyiv last week – EVOL
READ MORE…

LATEST NEWS:
Bill Gates’ ‘Self-Spreading mRNA Vaccines’ Are ‘Ready to Deploy’ – EVOL
Read more…
Twitter reacts to video of Cam Newton manhandling attackers in brawl – EVOL
Read more…
Gavin Newsom Launches Sick New Pro-Abortion Ad – EVOL
Read more…
Judge Prepares Career-Ending Move Against DA Fani Willis – EVOL
Read more…
College Student Murdered By Recent Illegal Migrant – EVOL
Read more…
Nikki Haley CRUSHED… They Just Abandoned Her – EVOL
Read more…
New Witness Reports Accuse Nathan Wade of Being Fani Willis’ ‘Backdoor Operator’ – EVOL
Read more…
It’s “Over” for Nikki Haley: Billionaire Backers Halt Funding of Her Hopeless Campaign – EVOL
Read more..

NEWS ADDICT

LATEST REPORTS FOR NEWS JUNKIES

Bill Gates’ ‘Self-Spreading mRNA Vaccines’ Are ‘Ready to Deploy’A new form of “self-spreading mRNA vaccines” has been developed that will allow governments to vaccinate entire populations without the need for injections or individuals’ consent.READ THE FULL REPORT

College Student Murdered by Illegal Migrant Who recently Crossed Biden’s Open Border Laken Hope Riley, a junior at Augusta University School of Nursing who attended classes at the Athens satellite campus, was tragically murdered on the University of Georgia campus.READ THE FULL REPORT

Nikki Haley CRUSHED… They Just Abandoned Her According to reports, Americans for Prosperity Action, a group supported by the Koch brothers, has decided to cease its financial support for the Nikki Haley campaign after her defeat to President Donald Trump in the South Carolina primary.READ THE FULL REPORT

New Witness Reports Accuse Nathan Wade of Being Fani Willis’ ‘Backdoor Operator’Fulton County District Attorney Fani Willis gave her “Special Prosecutor” Nathan Wade more authority behind-the-scenes in the run-up and during the Trump case in Georgia than previously known, a new report indicates.READ THE FULL REPORT

Judge Prepares Career-Ending Move Against DA Fani Willis Jonathan Turley, a well-known expert in constitutional law and a professor at Georgetown University, emphasized in a recent interview on Fox News that Fulton County District Attorney Fani Willis may be facing more serious consequences than what is commonly perceived.READ THE FULL REPORT

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

A Great Variety Of Moron Symptoms Appear

TUESDAY, FEB 27, 2024 – 11:00 AM

By Michael Every of Rabobank

A great variety of moron symptoms appear

Like Gramsci, look around and see the old is dying and the new cannot be born; see the great variety of morbid symptoms appearing as a result; and the greater variety of moron symptoms.

AI is not the new tech bubble, honest, even if there appears to be a staggering degree of artificiality in the intelligence it’s showing to us. (Presumably, it’s ‘impossible to tell’ if this Daily is ‘as bad as Hitler or Stalin’, because it contains statements some readers may not agree with.)
At the start of year three of the Ukraine War, President Macron just presided over a meeting of EU powers, stated, “We will do everything needed” to stop Russia winning, yet delivered no new weapons, while also declaring there was no consensus to send in EU troops on the ground, “but in terms of dynamics, nothing can be ruled out.” Really? Because I can rule that out right now.
In the Red Sea crisis, as flagged, analysis by Sea-Intelligence shows the need to move empty containers back to producers has grown 2.5 times faster than that to move full containers out. That isn’t good for global logistics, just as it wasn’t during Covid. Neither are reports of a shortage of oil (and LNG) tankers due to longer routes being taken. Meanwhile, the Houthis may have cut key Asia-Europe internet cables: Moody’s, who say Suez is having no inflationary impact, even as half of UK businesses are feeling its effects, will only notice when they can’t order lunch at a swipe. (Stick to UNCTAD’s ‘Navigating Troubled Waters’ on this issue.)
And on lunch, a US fast food chain is to experiment with surge pricing models: its burgers will now get more expensive at mealtimes. I’m sure the BLS team are onto this trend, if it spreads, and will show it means lower prices, when adjusted for eating when not hungry, right?

But let’s not get distracted by micro-Gramscis of hot air, Houthis, and hunger-pangs when the kilo-Gramscis are in understanding what a changing geopolitical and geoeconomic order means.

A Financial Times op-ed says ‘our global trade system is in desperate need of an overhaul’, repeating my old argument that Ricardo’s free trade comparative advantage theory itself admits it won’t work in a world of mobile global capital, which we censor, as we do Smith arguing the “invisible hand” actually keeps investors’ money circulating domestically. Yes, our system is now more imbalanced thanks to China, even as a global bifurcation away from it is underway. But there will be no joint overhaul, and things will likely be resolved via Western protectionism. In short, Trump started a trade war; Biden extended it; Trump, if he wins, now threatens a return to full US mercantilism. If you work in economics and/or markets and you don’t understand what that means, you are in desperate need of an overhaul.

In narrow terms, the market is again seeing America First means Dollar First regardless of narratives about gold, or BRICS, or, as I put it to Jim Rickards, of countries throwing bricks of gold at each other. That’s even more the case if the Fed isn’t rushing to cut rates. After more comments from Schmid noting, “further disinflation will need to come from services,” that, “we may need to cool demand further to tame price pressures,” and that moderating US wage growth was needed to get back to 2% CPI, not only should we look to the RBNZ meeting tomorrow, but try to imagine if the next set of US payrolls and CPI prints come in hot again. If the three 25bp rate cuts our ahead-of-the-curve Fed watcher Philip Marey –and, belatedly, the market– expects for 2024 then get pushed back from June, how close to, or after, the US election can the Fed move without being seen as political?

Yet US mercantilism, alluded to by the FT, shakes every market box and every asset tree. On this front, Michael Pettis, asks ‘Can Trade Intervention Lead to Freer Trade?’ and “Doesn’t an expansion of global trade always benefit the countries that participate in international trade and, more generally, the global economy?” He answers, “No,” before showing why this is so, logically.

Only capital controls, not tariffs, can stop foreign purchases of US assets to prevent mirroring trade surpluses: that’s the Ricardo (and Smith) argument in another form.
The US should only impose tariffs on mercantilists while holding to free –but balanced– trade with likeminded countries. That would shake Japan and Europe and mean global bifurcation, as the FT yesterday notes, ‘China plans to reshape trade on its own terms’.
If the US acts like this, the dollar’s global reserve currency status would be broken. Yet that doesn’t mean it would collapse. Nothing could replace it, and in a mercantilist world where it’s harder to get trade dollars –with massive offshore Eurodollar debts to repay– the buck would remain essential, and more expensive.

Pettis also makes clear Wall Street would suffer in this scenario, which US capital controls obviously entail. That’s as Bloomberg notes ‘Xi Crackdown on ‘Hedonistic’ Bankers Fuels Industry Brain Drain’, which sounds like the common prosperity so many on Wall Street tried to sell me as ‘regulatory reform’; and ‘Beijing warns China’s US$63 trillion financial sector: serve the real economy and enrich lives’, as state media tells the financial sector to focus on supporting the real economy and refrain from “fake financial innovation,” or Marx’s “productive” over “fictitious capital”… and so more mercantilism. Meanwhile, both the US and Europe governments are begging their financial sectors to invest in the real economy, particularly in defence goods, not to speculate on assets: clearly, things will have to change if the West is to keep up.

Indeed, former ECB President Draghi recently noted, “Many profound changes have taken place in the last few years in the global economic order. These changes have a variety of consequences, one of which is clear… that we’ll have to invest an enormous amount in a relatively short time in Europe,“ underlining the need for “bold action to cover the cost” of the green, digital, *and* defence transitions. That’s trillions of Euros a year – covered how, exactly? And US maritime expert John Konrad favours disbanding the US army and rebuilding the US Navy and merchant marine to cement its global economic power, while removing income taxes and relying on tariffs for revenue, as was originally the US model.

So, yes, the old is dying and the new cannot be born; and we have a great variety of morbid symptoms appearing as a result. And if you think none of these will happen in whole or in part, and perhaps soon, or that you can play both sides forever as it does, then you are suffering from a great variety of moron symptoms.

For an example, McKinsey has been dragged into a scandal after it was revealed it helped counsel China on a mercantilist industrial policy initiative that raised tensions with the US, while presumably also working with US firms and politicians to downsize and offshore American production, as it the industry norm. The firm is now being threatened with the potential loss of US government contracts, while how much of a future it, or any Western management consultant, holds in a China focused on the real, not fictitious or hedonistic, economy remains to be seen.

END

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

We must watch out for this:

(Freightwaves)

Threat Of Strike Looms Large Over East, Gulf Coast Ports

TUESDAY, FEB 27, 2024 – 06:30 AM

By Michael Rudolph of FreightWaves,

There’s an increasing abundance of skittishness surrounding the future of East and Gulf Coast ports.

The labor contract between the International Longshoremen’s Association and the United States Maritime Alliance (USMX) is set to expire at the end of September. The ILA represents some 70,000 dockworkers, while the USMX represents employers at 36 coastal ports — including three of the U.S.’s five busiest ports: the Port of New York and New Jersey, the Port of Savannah, Georgia, and the Port of Houston.

Contract negotiations between the ILA and the USMX began in February 2023 but quickly foundered on the issue of wage increases. Developments since then have not been promising.

“Talk of potential disruptions has increased”

In November, ILA leadership warned roughly 45,000 of its members to “prepare for the possibility of a coastwide strike in October 2024,” after the current master contract expires. ILA President Harold Daggett also cautioned that there is no chance of extending the current contract past the expiration date.

In other words, ILA dockworkers are fully prepared to swap pallet jacks for picket signs come Oct. 1.

Unsurprisingly, these threats unnerved trade associations like the National Retail Federation, which have actively voiced their desire to facilitate negotiations between the two parties. NRF President and CEO Matthew Shay, in a January letter, expressed concern “that the discussions have been on hold for months and talk of potential disruptions has increased.

“Even the threat of a disruption can have a negative economic impact on the covered ports,” Shay argued, “especially if cargo owners and other supply chain stakeholders believe that operations will be slowed or shut down during the all-important peak shipping season this fall.”

Other analysts concur: In a November post on LinkedIn, Vespucci Maritime CEO Lars Jensen wrote, “[T]he mere threat of a strike could cause shippers to pre-emptively move cargo to the West Coast. … The threat is likely not idle at all, but saber-rattling at this point is to be expected.”

In many ways, the ILA is riding on the numerous successes that labor had in recent years. In August, the Teamsters celebrated the ratification of a new agreement with UPS (albeit one with unintended side effects). After a 46-day strike against Ford, Stellantis and General Motors, the United Auto Workers union secured large pay raises and other benefits for its members last fall.

And, of course, there were the protracted negotiations around West Coast ports.

Shifting tides

Near the peak of the post-COVID import boom, the labor contract between the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) expired on July 1, 2022. What followed was an 11-month period of confusion, uncertainty and chaos for West Coast importers.

Soon after the contract’s expiration, 52 trade associations, industry organizations and businesses — including the NRF and PMA — penned a letter to California Gov. Gavin Newsom, urging him to incentivize growth at the state’s ports. The letter made the case that, despite the overwhelming growth in total volumes, West Coast ports’ market share had declined 19.4% since 2006 relative to their East and Gulf Coast counterparts.

Newsom was not the only one called on to intervene: More than 150 business groups implored the Biden administration to pressure the ILWU and PMA for a temporary extension of the labor contract, fearing work stoppages and shipment delays.

But while no such extension ever materialized, neither did the stoppages and delays — for a time, that is.

Even with the ILWU’s forbearance from striking, the West Coast ports’ market share continued to erode as shippers would settle for nothing less than a signed deal. Still, the ports were optimistic that volume would return once the negotiations were resolved.

Others were skeptical. “I think a lot of the transition from the West Coast to the East Coast is permanent,” Nerijus Poskus, vice president of ocean strategy at Flexport, told FreightWaves in February 2023. “People have gotten used to this new reality. I don’t think this has much to do with the risk of a strike on the West Coast anymore. I don’t see the West Coast gaining all its share back.”

The bearish case ultimately proved prescient when the ILWU shut down operations at the ports of Los Angeles and Long Beach for 24 hours in April 2023. By the time the stoppage occurred, East and Gulf Coast ports had been outperforming West Coast ports for 23 consecutive months. The following months saw a handful of work stoppages and slowdowns that further eroded shippers’ confidence in the ports’ operational capabilities.

When the ink dried on the final labor contract — nearly a full year after the previous one expired — the damage had already been done.

Extenuating circumstances

Since the resolution of its labor uncertainty, the West Coast has managed to claw back some market share, albeit in efforts aided by circumstances beyond its control. Still, the nature of its struggle can offer an indication of how things might progress along the East and Gulf coasts.

But while there is good reason to believe that a potential ILA strike will impact East and Gulf Coast ports in much the same way as the ILWU affected ones along the West Coast, it also seems as though the ILA is operating from a different playbook.

For one, the ILA has already taken a hard-line stance against continuing operations without a contract in place. Ports represented by the USMX are already in a fragile state, with imports threatened by the continued drought at the Panama Canal. Taken together, these circumstances imply that any ILA stoppages would be swift and its effects immediate, unlike the extended drama that played out along the West Coast.

This inference is strengthened by the fact that imports to East and Gulf Coast ports come from a more diverse mix of origins than the West Coast. Whereas the West Coast primarily gets its cargo from Asia, East and Gulf Coast ports get shipments from Europe and South America as well as Asia.

The ILA also views itself as having a firmer stance against automation than the ILWU, targeting shipping lines directly. “If foreign-owned companies like Maersk and MSC try to replace our jobs with automation,” ILA President Daggett said in November, “they are going to get a painful reminder that longshore workers brought these companies to where they are today.”

Speaking on APM’s Pier 400 terminal at the Port of Los Angeles, Daggett added, “Who the hell is a foreign company like Maersk to come to America and build a fully automated terminal like the one we just saw? Those are jobs lost in America and profits sent back to Copenhagen.”

Maersk, meanwhile, is contending with its own financial challenges after the pandemic-era boom. With ports and shipping lines alike in a bind, the ILA finds itself in a favorable position to push its demands.

For their part, retailers are broadly expected to pull forward their peak season freight so as to avoid potential issues come October. But if negotiations between the ILA and USMX deteriorate further — and especially if the ILA follows through with its first coastwide strike since 1977 — the pendulum is likely to swing back in favor of the West Coast.

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 TUESDAY MORNING 7;30AM//OPENING AND CLOSING

EURO VS USA DOLLAR: 1.0861 UP .0010

USA/ YEN 150.17 DOWN 0.397 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2682 DOWN .0001

USA/CAN DOLLAR: 1.3487 DOWN .0015 (CDN DOLLAR UP 15 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED UP 38.46 PTS OR 1.29%

Hang Seng CLOSED UP 156.06 POINTS OR 0.94%

AUSTRALIA CLOSED UP 0.18% // EUROPEAN BOURSE: MOSTLY ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES: MOSTLY ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 156.06 PTS OR 0.94%

/SHANGHAI CLOSED UP 38.46 PTS OR 1.29%

AUSTRALIA BOURSE CLOSED UP 0.18%

(Nikkei (Japan) CLOSED UP 5.83 PTS OR .17%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 2038.10

silver:$22.67

USA dollar index early TUESDAY morning: 103.59 DOWN 16 BASIS POINTS FROM MONDAY’s CLOSE.

TUESDAY MORNING NUMBERS ENDS

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And now your closing MONDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 3.087% UP 1 in basis point(s) yield

JAPANESE BOND YIELD: +0.691% up 0 AND 8//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.339 UP 3 in basis points yield

ITALIAN 10 YR BOND YIELD 3.889 UP 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.4490 UP 2 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR TUESDAY

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

Euro/USA 1.0845 DOWN 0.0004 or 4 basis points

USA/Japan: 150.42 DOWN 0.144 OR YEN UP 14 basis points/

Great Britain/USA 1.2685 UP .0001 OR 1 BASIS POINTS //

Canadian dollar DOWN .0021 OR 21 BASIS pts to 1.3522

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The USA/Yuan, CNY: closed ON SHORE CLOSED DOWN AT 7.1979

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2120)

TURKISH LIRA: 31.15 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.691…

Your closing 10 yr US bond yield DOWN 1 in basis points from MONDAY at 4.287% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.411 DOWN 1 in basis points /12.00 PM

USA 2 YR BOND YIELD: 4.689 DOWN 3 BASIS PTS.

GOLD AT 10;30 AM 2032.75

SILVER AT 10;30: 22.49

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

London: CLOSED UP 0.78 PTS OR 0.01%

German Dax : CLOSED UP 127.37 PTS OR 0.79%

Paris CAC CLOSED UP 23.60 PTS OR 0.32%

Spain IBEX CLOSED DOWN 19.10 PTS OR 0.19%

Italian MIB: CLOSED UP 153.41 PTS OR 0.47%

WTI Oil price 78.33 12: EST/

Brent Oil: 83.17 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 92.05; ROUBLE UP 0 AND 32//100

GERMAN 10 YR BOND YIELD; +2.4490 UP 2 BASIS PTS

UK 10 YR YIELD: 4.220 UP 4 BASIS POINTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0843 DOWN .0007 OR 77 BASIS POINTS

British Pound: 1.2683 DOWN .0005 or 5 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.236 UP 5 BASIS PTS//

JAPAN 10 YR YIELD: 0.685%

USA dollar vs Japanese Yen: 150.47 DOWN 0.101//YEN UP 10 BASIS PTS//

USA dollar vs Canadian dollar: 1.3525 UP .0024 CDN dollar DOWN 24 basis pts)

West Texas intermediate oil: 78.50

Brent OIL: 83.24

USA 10 yr bond yield UP 1 BASIS pts to 4.303%

USA 30 yr bond yield UP 3 BASIS PTS to 4.429%

USA 2 YR BOND: DOWN 2 PTS AT 4.692%

USA dollar index: 103.74 DOWN 1 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 31.15 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 92.05 UP 0 AND 32/100 roubles

GOLD 2030.50 3:30 PM

SILVER: 22.46 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 96.82 PTS OR 0.25%

NASDAQ UP 37.71 PTS OR 0.21%

VOLATILITY INDEX: 13.43 DOWN 0.31 PTS OR 2.26%

GLD: $188.00 DOWN 0.20 OR 0.11%

SLV/ $20.57 DOWN .05 OR 0.24%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

‘Big Shorts’, Bitcoin, & Black Gold Bid As Yield Curve Bear-Steepens

TUESDAY, FEB 27, 2024 – 04:00 PM

For the second day in a row, the biggest shorts, crypto, and oil prices ripped while the rest of the market wistfully drifted unphased by more dismal data.

Durable-goods – ugly (blame Boeing); Home-prices higher-er (blame Powell’s pivot for unaffordability); consumer sentiment shitshow (and oddly large downward revisions)

Source: Bloomberg

‘Most Shorted’ stocks were squeezed bigly once again… up 9% from Friday’s close…

Source: Bloomberg

Bitcoin ripped once again… topping $57,000 for the first time since Nov 2021…

Source: Bloomberg

And oil prices jumped once again… to their highest close since early November…

Source: Bloomberg

Small Caps were the biggest beneficiary of the short squeeze… now up 2% in the last two days while The Dow lags. S&P and Nasdaq managed gains today but are marginally lower and marginally higher on the week so far…

Bitcoin ETF inflows have been soaring…

Source: Bloomberg

And that’s started to drive Ethereum higher too (to its its highest since April 2022)…

Source: Bloomberg

The dollar continued its slow drift lower, back to pre-CPI lows…

Source: Bloomberg

Gold was steady again today at pre-CPI highs…

Source: Bloomberg

Treasuries were mixed today with the short-end outperforming (2Y unch, 30Y +4bps)…

Source: Bloomberg

And that sent the yield curve (2s30s) bear-steepening – after some serious flattening recently…

Source: Bloomberg

Finally, crypto’s total market cap is back above $2 trillion for the first time in two years…

Source: Bloomberg

No wonder ‘unknown’ officials have started to spread rumors that they fear bitcoin-mining could put the grid in jeopardy (now that the “only terrorists and money-launderers use crypto” narrative has exploded)! How f**king pathetic and predictable are these people!!!

We look forward to hearing how crypto is in a bubble… but NVDA isn’t…

Source: Bloomberg

It’s different, of course.

MORNING TRADING//

end

US Durable Goods Orders Collapsed In January – Biggest Drop Since COVID Lockdowns

TUESDAY, FEB 27, 2024 – 08:41 AM

The last few months have been volatile – to say the least – for US durable goods orders, with preliminary January data showing an enormous 6.1% MoM plunge in the headline (worse than the already bad 5% decline expected). That is the weakest MoM print since the middle of the COVID lockdowns in April 2020, dragging year-over-year orders growth down to -0.8% – the lowest and first annual contraction since August 2020…

Source: Bloomberg

Excluding transportation equipment, orders fell 0.3%.

It appears Boeing’s doors-flying-off-our-planes issue had some impact as non-defense aircraft orders crashed 58.5% MoM (the worst since 2019 (Max…). But the numbers were helped by war spending being up 24.2% MoM…

Source: Bloomberg

Boeing reported only three orders in January, the fewest in more than three years after a near-catastrophic accident early in the month led regulators to ground some of its planes.

On the bright side, core capital goods shipments, a figure that is used to help calculate equipment investment in the government’s gross domestic product report, bounced back from contraction in December…

Source: Bloomberg

So as goes Boeing, so goes the manufacturing economy… and as goes NVDA, so goes the stock market? Fuck yeah ‘Murica!

AFTERNOON TRADING/

II USA DATA

US Home Prices Rose For 11th Straight Month In December, But…

TUESDAY, FEB 27, 2024 – 09:12 AM

Home prices in America’s 20 largest cities rose for the 11th straight month in December (the latest data released by S&P Global Case-Shiller today), up 0.21% MoM (in line with the 0.20% MoM expected and 0.24% prior).

Source: Bloomberg

That pushed the YoY price up to +6.13% (in line with the +6.03% exp).

“While we are not experiencing the double-digit gains seen in the previous two years, above-trend growth should be well received considering the rising costs of financing home mortgages,” according to Brian D. Luke, Head of Commodities, Real & Digital Assets at S&P Dow Jones Indices.

Miami, Las Vegas, and Los Angeles saw MoM gains in their city’s prices, while the rest of the 17 majors saw declines MoM, but on a YoY basis, there was no city with lower prices for the first time since Nov 2022. While San Diego and Los Angeles are leading the price gains on a YoY basis, we note that Detroit (yes, Detroit) is seeing the 3rd fastest home price growth (+8.32% YoY)…

But, judging by the resumption of the rise of mortgage rates since the Case-Shiller data was created, we would expect prices to also resume their decline in the short-term…

Source: Bloomberg

Are prices set to shrink again (as the lag on Case-Shiller data and human’s response to rates) before re-accelerating later this year?

end

US Durable Goods Orders Collapsed In January – Biggest Drop Since COVID Lockdowns

TUESDAY, FEB 27, 2024 – 08:41 AM

Source: Bloomberg

Excluding transportation equipment, orders fell 0.3%.

Source: Bloomberg

Boeing reported only three orders in January, the fewest in more than three years after a near-catastrophic accident early in the month led regulators to ground some of its planes.

Source: Bloomberg

So as goes Boeing, so goes the manufacturing economy… and as goes NVDA, so goes the stock market? Fuck yeah ‘Murica!

end

This is a soft data entry but something happened!

(zerohedge)

WTF Is Going On With The Conference Board’s Consumer Confidence Data?

TUESDAY, FEB 27, 2024 – 10:21 AM

After rebounding strongly from November to January, US Consumer Confidence tumbled in February, according to the latest survey from The Conference Board, beating expectations across the board.

Consumer confidence fell to 106.7 (estimate 115.0) in February from revised 110.9 in January
Present situation fell to 147.2 from revised 154.9 in January
Expectations index fell to 79.8 from revised 81.5 in January

Source: Bloomberg

While that decline on the chart does not look like much, it is dramatic relative to expectations and pre-revision levels. A six-sigma miss…

Source: Bloomberg

But, for the fourth straight month, The Conference Board revised its consumer confidence data significantly lower. In fact January’s was the biggest downward revision since Feb 2022…

Source: Bloomberg

So January’s spike above July’s revised highs which everyone shot their load of exuberance over… is gonzo!!

Source: Bloomberg

Which brings up the same question we had last month?

How do you revise consumer confidence down? Do you ask them again and they tell you, “You know what, I wasn’t feeling it as much as I thought I was”— Zebra Cat (@ZebraCat20) November 28, 2023

The Conference Board’s indicator inflation expectations tumbled further to +5.2% – still notably high but trend in the right direction…

Source: Bloomberg

The labor market indicators trended notably stronger again in February?

Source: Bloomberg

Bidenomics: where everything is revised lower a month after nobody remembers.

TUCKER CARLSON

III USA ECONOMIC COMMENTARIES

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

END

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

END

SWAMP STORIES

KING REPORT//

The King Report February 27, 2024 Issue 7188

Independent View of the News

Houthis knock out underwater cables linking Europe to Asia – reportThe successful targeting of the four cables, which are believed to belong to the AAE-1, Seacom, EIG, and TGN systems, marks a serious disruption of communications between Europe and Asia. The AAE-1 cable connects East Asia to Europe via Egypt, connecting China to the West through countries such as Pakistan and Qatar. The Europe India Gateway (EIG) cable system connects southern Europe to Egypt, Saudi Arabia, Djibouti, the UAE, and India. The Seacom cable connects Europe, Africa, and India, and is connected to South Africa…https://www.jpost.com/middle-east/article-788888 ‘Chaotic’ US Congress faces whirlwind of shutdown, impeachment, border fightsThe U.S. Congress lurches into a new week of political chaos on Monday, as lawmakers struggle to avoid a partial government shutdown in just five days, while pushing for an election-year trial of President Joe Biden’s top border official. The Republican-controlled House of Representatives is also grasping for a way forward on vital U.S. aid to Ukraine, Israel and Taiwan, and plans to hear closed-door testimony from Biden’s son, Hunter Biden, in an impeachment probe that has failed so far to turn up evidence of wrongdoing by the president…https://www.reuters.com/world/us/chaotic-us-congress-faces-whirlwind-shutdown-impeachment-border-fights-2024-02-26/ US Corporate Bond Sales Hit $153 Billion to Set February Record ($151B last year) – BBG @FoxNews: Biden calls Johnson, Schumer for White House meeting as congressional chaos stirs government shutdown fears ESHs were moderately negative, but sideways, from the second hour of Nikkei trading until they commenced a rally at 4:30 ET. A jagged rally for the NYSE open took ESHs to a daily high of 5108.00 at 9:38 ET. An early dump begat an intractable decline that took ESHs to a daily low of 5080.75 at 13:32 ET. A moderate A-B-C rally ended at 14:28 ET. ESHs then vacillated in a 6-handle range until they broke lower at 15:30 ET. ESHs hit a daily low of 5078.25 at the NYSE close. Action was lackluster, especially for a Monday. @BloombergAsia: Donald Trump intends to visit the US-Mexico border in Texas on Thursday… to ramp up pressure on President Joe Biden over one of his top political liabilities. Fox’s @BillMelugin_: Interesting that President Biden has chosen Brownsville/Rio Grande Valley sector for his visit. It has been slow there for months. Only getting around 200-400 per day across all of RGV sector recently. Yesterday was 314 encounters. Meanwhile, San Diego & Tucson sectors BUSY in blue states w/ typically 1,000-2,000ish per day. Biden’s last visit to the border was in El Paso *after* a huge surge of illegal crossings where the streets had been cleared of migrant camps and the visit was highly sanitized – Biden did not see or talk to a single migrant, nor did he visit a Border Patrol station. We’ll see if this time Is different. Wendy’s planning Uber-style ‘surge pricing’ where burger prices fluctuate based on demandMeaning a Dave’s burger will cost more during the lunchtime rush… the chain’s iconic Dave’s Single could increase by as much as $1 at lunchtime and drop down by the same amount after the lunch rush… https://trib.al/w0oqYjj Restaurants say they must cut jobs, raise prices thanks to new California law. Labor experts are wary – A new California law… will require national fast-food chains to increase their workers’ minimum wages to $20 an hour on April 1. But some restaurants are already taking steps to protect their bottom line — either by cutting workers or raising prices — including at least one chain of dine-in restaurants that is not covered by the new mandates… https://www.sfchronicle.com/politics/article/california-fast-act-18678650.php WTI Pops as Red Sea Shipping Echoes in Slumping European Diesel SupplyReuters reported that U.S. diesel exports to Europe had slumped in February amid lower refinery output and tighter supplies in the U.S…https://oilprice.com/Latest-Energy-News/World-News/WTI-Pops-as-Red-Sea-Shipping-Echoes-in-Slumping-European-Diesel-Supply.html Positive aspects of previous sessionFangs rallied modestly Negative aspects of previous sessionAll major equity indices, ex-NY Fang+ Index, declinedESHs and stocks sank during the final 30 minutes of tradingBonds declined modestly while Oil and Gasoline rallied sharply Ambiguous aspects of previous sessionWas Monday’s languid action a prelude to a respite or a reversal? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Down Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5078.70Previous session S&P 500 Index High/Low: 5097.66; 5068.91 @kylenabecker: The head of a Ukrainian intelligence agency says that Alexei Navalny actually died of a blood clot. This is a narrative-wrecker for the American media (and Team Biden!). The Spy War: How the CIA Secretly Helps Ukraine Fight Putin – NYTIt has transformed Ukraine, whose intelligence agencies were long seen as thoroughly compromised by Russia, into one of Washington’s most important intelligence partners against the Kremlin today. The listening post in the Ukrainian forest is part of a CIA-supported network of spy bases constructed in the past eight years that includes 12 secret locations along the Russian border… Around 2016, the CIA began training an elite Ukrainian commando force — known as Unit 2245 — which captured Russian drones and communications gear so that CIA technicians could reverse-engineer them and crack Moscow’s encryption systems… The details of this intelligence partnership, many of which are being disclosed by The New York Times for the first time, have been a closely guarded secret for a decade… (Who, and why disclose now?) Toward the end of 2021, according to a senior European official, Putin was weighing whether to launch his full-scale invasion when he met with the head of one of Russia’s main spy services, who told him that the CIA, together with Britain’s MI6, were controlling Ukraine and turning it into a beachhead for operations against Moscow… But the CIA did have red lines. It wouldn’t help the Ukrainians conduct offensive lethal operations. The election of Trump in November 2016 put the Ukrainians and their CIA partners on edge…https://news.yahoo.com/spy-war-cia-secretly-helps-172754832.html @StockMKTNewz: Nancy Pelosi just filed for her purchase of Palo Alto PANW callhttps://twitter.com/StockMKTNewz/status/1762143591047090517 https://www.barchart.com/story/news/24352845/nancy-pelosi-just-reported-a-purchase-of-panw-call-options Today – The usual Monday Rally did not materialize. Stocks are historically overbought and appear to be exhausted on a short-term basis. Additionally, the usual suspects are hyping Thursday’s January PCE data as the most important economic report in recent memory. So, traders under the influence are less active than normal. Barring news, another lackluster trading session is likely. Expected Economic Data: Jan Durable Goods Orders -5.0% m/m, Ex-Trans +0.2%, Nondef Ex-Air 0.1%, Shipments 0.2%; Dec FHFA House Price Index 0.2% m/m; Dec S&P CoreLogic 20-city house prices 0.2% m/m & 6.0% y/y; Feb Richmond Fed -8; Feb Conference Board Consumer Confidence 115; Fed VCE for Supervision 9:05 ET ESUs are -2.75; NQHs (Naz 100) are -14.75 and USHs are +13/32 at 20:30 ET. S&P Index 50-day MA: 4857; 100-day MA: 4629; 150-day MA: 4569; 200-day MA: 4508DJIA 50-day MA: 37,990; 100-day MA: 36,179; 150-day MA: 35,684, 200-day MA: 35,227(Green is positive slope; Red is negative slope) S&P 500 Index (5069.53 close) – Trender BBG trading model and MACD for key time framesMonthly: Trender and MACD are positive – a close below 4314.46 triggers a sell signalWeekly: Trender and MACD are positive – a close below 4805.35 triggers a sell signalDaily: Trender and MACD arepositive – a close below 4959.48 triggers a sell signalHourly: Trender is positive; MACD is negative – a close below 5068.47 triggers a sell signal @elonmusk: Dems won’t deport, because every illegal is a highly likely vote at some point. That simple incentive explains what seems to be insane behavior. It has become so brazen that a gang of illegals can beat up police officers on camera in Times Square, get out of jail for free and *still* not get deported. Instead, a partly federally funded NGO bought them free tickets to California … Biden Admin Planted Operative Jeff DiSantis in Fani Willis’ Office to Target Trump, Sources SaySources credit DiSantis with colluding with the White House to target Trump. “DiSantis did this,” one source told Breitbart News about the Trump case. “He’s the one. He is the one pulling all the strings. He was the one that walled her [Willis] off. He was in every important meeting. He is the brainchild behind this. That is the connection to the White House.”… “DiSantis is the one pulling the strings on this whole thing,” a second source said. “Everybody heard Fani testify. It’s no secret that she’s not smart. That is how she sounds and acts every day of the week.”…https://www.breitbart.com/2024-election/2024/02/26/exclusive-biden-admin-planted-operative-jeff-disantis-fani-willis-office-target-trump-sources-say/ AP slammed for framing Laken Riley’s murder on dangers ‘female athletes’ face — not on migrant crimes https://trib.al/Cp8nDrp

GREG HUNTER

SEE YOU ON TUESDAY

SHANGHAI GOLD (USD) FUTURES – QUOTES

GOLD: NUMBER OF NOTICES FILED FOR FEB/2024. CONTRACT: 50 NOTICES FOR 5000 OZ or 0.1555 TONNES

total notices so far: 19,958 contracts for 1,995,800 Oz (62 tonnes)

FOR FEBRUARY:

SILVER NOTICES 4 NOTICE(S) FILED FOR 20,000 OZ/

total number of notices filed so far this month : 1308 for 6,540,000 oz

“A House Of Cards, Supported & Backed By Blind Faith…”

Private property rights under siege

4. OTHER GOLD COMMENTARIES/PODCASTS/

Bitcoin Tops $57,000 As ETF Inflows Soar, Ethereum Bigger Than ASML & Samsung

Futures Flat Ahead Of Flood Of Economic Data

DXY pressured by JPY post-CPI; Fed’s Schmid says no-need to pre-emptively adj. – Newsquawk US Market Open

EUROPEAN TRADE

EQUITIES

FX

FIXED INCOME

COMMODITIES

GEOPOLITICS

CRYPTO

APAC TRADE

Illegal Arrivals Into Spain Soar 500% In 2024… But Socialist PM Rewards Morocco with €45BN Funding Package

Hamas’ Sinwar still in Khan Yunis, hiding behind hostages – report

In recent weeks, some reports have alleged that Yahya Sinwar had fled to Rafah or even into Egypt.

The hunt for Sinwar under Gaza

Three Palestinians killed in clashes with Israeli forces in West Bank

Ahmed Daraghmeh, a commander of the PIJ-affiliated Tubas Battalion terrorist group, was killed in clashes overnight.

Clashes erupt in Tubas and El Far’a

Hezbollah rains 60 rockets down on Golan in retaliation for Israeli strikes

The IDF killed a Hezbollah commander around 100 kilometers into Lebanon.

No injuries reported

Israel Attacks Lebanon’s Bekaa Valley For First Time Of War, 100km From Border

Houthis Have Knocked Out Several Undersea Internet Cables: Report

US military says it destroyed Houthi drone boats, anti-ship cruise missiles

First M1 Abrams Tank Destroyed In Ukraine Shortly After Appearance On Battlefield

Study Finds Increasing Time Between COVID Vaccine Doses Reduces Risk Of Myocarditis, Yet Cardiologists Raise Concerns

Cardiologist: Vaccinating Healthy Adolescents Is ‘All Risk’

Heart Inflammation Is Higher Due to Asymptomatic Cases

Kansas’ Phil Ehart has major heart attack; Bears’ Steve McMichael needs blood transfusion; Jay McInerney has brain surgery; Toni Braxton’s near-fatal health scare; Amy Schumer’s “puffy, swollen face”

“Sutton Stracke suffers terrifying medical emergency while filming ‘RHOBH’ reunion”; triathlete Lesley Patterson’s husband has Stage 4 pancreatic cancer; soap star Lana Clay’s “rare disorder”; more

UNITED STATES

Rock band Kansas to carry on after its drummer, Phil Ehart, suffers a major heart attack

Author Jay McInerney recovering from brain surgery after ‘bloody’ incident at home — but finished a novel, smuggled champagne into ICU

Amy Schumer breaks silence over ‘puffy and swollen’ face and admits health battle

Toni Braxton says she ‘dismissed’ symptoms that could’ve led to heart attack

Sutton Stracke suffers terrifying medical emergency while filming ‘RHOBH’ reunion

Daughter-In-Law Of Cheng Pei Pei Diagnosed With Stage 4 Breast Cancer 5 Months After Having First Kid

Tragedy for Hollywood’s latest rising star: Five-time triathlon world champ Lesley Patterson was the toast of Tinseltown after writing Oscar-winning All Quiet on the Western Front – but her career has now come to a tragic halt

The mother of General Hospital’s Joey and Jay Clay has been diagnosed with a rare disorder

Bears great Steve McMichael contracts another infection, undergoes blood transfusion, family says

A Disney cast member who suffered a devastating fall during a live performance inspired by Disney’s Beauty and the Beast (1991) over the weekend is reportedly “fighting for her life.”

Why would the Japanese Ministry of Health Increase its COVID mRNA technology Vaccine Health Damage Budget by a Staggering 110 Times vs Previous Estimates? What caused this? LIONESS OF JUDAH MINISTRY

indicates that they are expecting massive damages from the Malone, Bourla, Bancel, Weissman, Sahin, Kariko et al. mRNA technology gene based mRNA vaccine; I myself think so, millions will die, sadly

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

A Great Variety Of Moron Symptoms Appear

A great variety of moron symptoms appear

Threat Of Strike Looms Large Over East, Gulf Coast Ports

“Talk of potential disruptions has increased”

Shifting tides

Extenuating circumstances

‘Big Shorts’, Bitcoin, & Black Gold Bid As Yield Curve Bear-Steepens

US Durable Goods Orders Collapsed In January – Biggest Drop Since COVID Lockdowns

US Home Prices Rose For 11th Straight Month In December, But…

US Durable Goods Orders Collapsed In January – Biggest Drop Since COVID Lockdowns

WTF Is Going On With The Conference Board’s Consumer Confidence Data?

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