SHANGHAI GOLD (USD) FUTURES – QUOTES

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

Last Updated 28 Feb 2024 07:56:10 AM CT.

Market data is delayed by at least 10 minutes.

MONTH	LAST	CHANGE	PRIOR SETTLE	OPEN	HIGH	LOW	VOLUME	UPDATED
MAR 2024 SGUH4	–	–	2080.1	–	–	–	0	21:30:01 CT 27 Feb 2024
APR 2024 SGUJ4	2076.8	-3.2 (-0.15%)	2080.0	2075.8	2076.8	2075.8	7	00:45:43 CT 28 Feb 2024
MAY 2024 SGUK4	–	–	0.0	–	–	–	0	21:30:01 CT 27 Feb 2024
JUN 2024 SGUM4	–	–	2091.9	–	–	–	0	21:30:01 CT 27 Feb 2024
AUG 2024 SGUQ4	–	–	2092.5	–	–	–	0	21:30:01 CT 27 Feb 2024
OCT 2024 SGUV4	–	–	2093.1	–	–	–	0	21:30:01 CT 27 Feb 2024
DEC 2024 SGUZ4	–	–	2093.7	–	–	–	0	21:30:01 CT 27 Feb 2024
FEB 2025 SGUG5	–	–	0.0	–	–	–	0	21:30:01 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: $2,760.90 UP $14.90 CDN dollars per oz( * NEW ALL TIME HIGH 2,795.90 CDN DOLLARS PER OZ//DEC 1 2023)

*BRITISH GOLD: 1606.45 UP 6.40 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17 BRITISH POUNDS/OZ) OCT 2/2023

*EURO GOLD: 1876.51 UP 4.50 euros per oz //* (ALL TIME CLOSING HIGH: 1903.75 EUROS PER OZ//DEC 1.2023)

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EXCHANGE: COMEX

ACCESS MARKET:

EXCHANGE: COMEX
CONTRACT: FEBRUARY 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,034.000000000 USD
INTENT DATE: 02/27/2024 DELIVERY DATE: 02/29/2024
FIRM ORG FIRM NAME ISSUED STOPPED

323 C HSBC 9
363 H WELLS FARGO SEC 21
624 H BOFA SECURITIES 252
661 C JP MORGAN 470
686 H STONEX FINANCIA 3
880 H CITIGROUP 796
991 H CME 41

TOTAL: 796 796
MONTH TO DATE: 20,754

JPMorgan stopped 470/796 contracts.

FOR FEB/2024

GOLD: NUMBER OF NOTICES FILED FOR FEB/2024. CONTRACT: 796 NOTICES FOR 79,600 OZ or 2.4758 TONNES

total notices so far: 20,754 contracts for 2,075,400 Oz (64.552 tonnes)

FOR FEBRUARY:

SILVER NOTICES 0 NOTICE(S) FILED FOR NIL 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 DOWN $1.00//

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

INVENTORY RESTS AT 826.94 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER DOWN 7 CENTS AT THE SLV//

HUGE CHANGES IN SILVER INVENTORY AT THE SLV: HUGE DEPOSIT OF 5.123 MILLION OZ INTO THE SLV/.

THIS DATA IS JUST NOT BELIEVABLE.

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 433.086 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A HUGE SIZED 1354 CONTRACTS TO 144,382 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR RISE IN PRICE OF $0.03 IN SILVER PRICING AT THE COMEX ON TUESDAY. WE HAD ZERO LONG LIQUIDATION AT THE COMEX SESSION WITH AGAIN SOME SHORT COVERING DESPITE THE PRICE OF SILVER RISING BY A SMALL AMOUNT. WE HAD A GOOD 431 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 TUESDAY NIGHT: 431 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.

WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.03), AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A TINY SIZED GAIN OF 66 CONTRACTS ON OUR TWO EXCHANGES DESPITE A MUCH LOWER PRICE.

WE MUST HAVE HAD:

A MEGA HUMONGOUJS SIZED 1450 ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.535 MILLION OZ (FIRST DAY NOTICE) ACCOMPANYING A STRANGE 89 CONTRACT ISSUANCE FOR EX. FOR RISK FOR 445,000 OZ ON FIRST DAY NOTICE/ FOLLOWED BY TODAY’S 0 OZ E.F.P. JUMP TO LONDON//0 QUEUE JUMP //NEW TOTAL REMAINS AT ; 6.985 MILLION OZ

//NEW STANDING FOR SILVER IS THUS 6.985 MILLION OZ

/ HUGE SIZED COMEX OI LOSS/MEGA HJUMONGOUS SIZED EFP ISSUANCE/ VI) GOOD SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 431 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED A HUGE 359 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 19 days, total 12,627 contracts: OR 63.135 MILLION OZ (664 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 63,135 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 : 63.135 MILLION OZ.

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1384 CONTRACTS DESPITE OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//TUESDAY.,. THE CME NOTIFIED US THAT WE HAD A MEGA HUMONGOUS EFP ISSUANCE CONTRACTS: 1450 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 0 OZ E.F.P. JUMP//(0 OZ QUEUE JUMP) //NEW TOTAL REMAINS AT 6.985 MILLION OZ

NEW STANDING 6.985 MILLION OZ /// WE HAVE A TINY GAIN OF 66 OI CONTRACTS ON THE TWO EXCHANGES WITH THE GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A STRONG SIZED 3445 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE TUESDAY COMEX SESSION/// WITH SOME SHORT COVERING FROM OUR SPEC SHORTS ( WITH PRICE OF SILVER RISING) . THE NEW TAS ISSUANCE TUESDAY NIGHT (3445) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .

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

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A SMALL SIZED 871 CONTRACTS TO 411,195 AND CLOSER TO 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: ADDED 176 CONTRACTS

WE HAD A SMALL SIZED INCREASE IN COMEX OI ( 871 CONTRACTS) WITH OUR $4.40 GAIN IN PRICE//TUESDAY. 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 HUGE 60,400 OZ QUEUE JUMP //NEW TOTAL OF GOLD STANDING ADVANCES TO: 66.276 TONNES // ALL OF THIS HAPPENED DESPITE OUR $4.40 GAIN IN PRICE WITH RESPECT TO TUESDAY’S TRADING. WE HAD A A GOOD SIZED GAIN OF 3876 OI CONTRACTS (12.055) PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 3005 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 411,195

IN ESSENCE WE HAVE A GOOD SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3896 CONTRACTS WITH 871 CONTRACTS INCREASED AT THE COMEX// AND A GOOD SIZED 3005 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 3876 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): GOOD SIZED 3445 CONTRACTS.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD GOOD SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3005 CONTRACTS) ACCOMPANYING THE SMALL SIZED GAIN IN COMEX OI (871) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 3876 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 60,400 OZ QUEUE JUMP //NEW STANDING ADVANCES TO 66.276 TONNES. / 3) ZERO LONG LIQUIDATION // 4) SMALL SIZED COMEX OPEN INTEREST GAIN/ 5) GOOD ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: STRONG T.A.S. ISSUANCE: 3445 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: 63,431 CONTRACTS OR 6,343,100 OZ OR 197.29. TONNES IN 19 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 19 TRADING DAY(S) IN TONNES 197.29 TONNES

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

THUS EFP TRANSFERS REPRESENTS 197.290/3550 x 100% TONNES 5.65% 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: 197.29 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 HUGE SIZED 1384 CONTRACTS OI TO 144,741 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 1450 CONTRACTS

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

MAY 1450 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1450 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 1025 CONTRACTS AND ADD TO THE 1450 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A GOOD SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 66 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 0.330 MILLION OZ

OCCURRED WITH OUR $.03 GAIN IN PRICE …..

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

WEDNESDAY MORNING/TUESDAY NIGHT

SHANGHAI CLOSED DOWN 57.63 PTS OR 1.91% //Hang Seng CLOSED DOWN 253.95 PTS OR 1.51% / Nikkei CLOSED DOWN 31.49 PTS OR .08%//Australia’s all ordinaries CLOSED DOWN 0.06% /Chinese yuan (ONSHORE) closed DOWN 7.1990 //OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2142 /Oil UP TO 78.14 dollars per barrel for WTI and BRENT UP AT 82.92/ Stocks in Europe OPENED MOSTLY ALL RED EXCEPPT GERMANY// 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 ROSE BY A SMALL SIZED 871 CONTRACTS TO 411,195 WITH OUR GAIN IN PRICE OF $4.40 WITH RESPECT TO TUESDAY 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 3005 EFP CONTRACTS WERE ISSUED: : APRIL 3005 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3005 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A GOOD SIZED TOTAL OF 3876 CONTRACTS IN THAT 3005 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A GOOD SIZED GAIN OF 871 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $4.40 TUESDAY 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 TUESDAY NIGHT WAS A GOOD SIZED 3445 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 (66.276 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: 66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT GAINED $4.40 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A GOOD SIZED GAIN OF 3876 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH OUR HIGHER 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 TUESDAY’S TRADING . THE T.A.S. ISSUED ON TUESDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS.

WE HAVE GAINED A TOTAL OI OF 12.055 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 60,400 OZ QUEUE JUMP (1.878 TONNES//NEW TOTAL STANDING 66.276: ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $4.40

WE HAD +ADDED 176 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)

NET GAIN ON THE TWO EXCHANGES 3876 CONTRACTS OR 387,600 OZ OR 12.055 TONNES.
estimated volume today 131,775 poor

final gold volumes/yesterday 151,103 poor

//speculators have left the gold arena

FEB 28 INITIAL FEB GOLD

/ /// THE FEB 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	13,476.371 oz Brinks Delaware JPMorgan includes 3 kilobars .
Deposit to the Dealer* Inventory in oz*	64,035.176 oz ASAHI
Deposits to the Customer* Inventory, in oz*	89,315.478 oz Loomis
No of oz served (contracts) today	796 notice(s) 79,600 OZ 2.47858 TONNES
No of oz to be served (notices)	0 contracts 0 oz 0. TONNES
Total monthly oz gold served (contracts) so far this month	20,754 notices 2,075,400 oz 64.553 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

1 dealer deposits:

i) Into ASAHI: 64,035.176 oz

total dealer deposits: nil oz

total customer withdrawals: 3

i) Out of Brinks: 9981.520 oz

ii)Out of Delaware 96.453 ooz

iii)Out of JPMorgan 3398.398 oz

total withdrawal: 13,476.371 oz

we had 1 customer deposit

i) Into Loomis: 89,315.478 oz

total deposit 89,315.478

Adjustments: 1 all dealer to customer//

i)Loomis: 3,279.402 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR FEB.

For the front month of FEBRUARY we have an oi of 796 contracts having GAINED 554 contracts. We had 50 notices filed on Tuesday, so we GAINED 604 contracts or an additional 60,400 oz (1.878 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 60,400 oz//New standing 64.553 tonnes + 1.723 tonnes = 66.276 TONNES

March gained 71 contracts to stand at 3156

APRIL LOST 173 CONTRACTS FALLING TO 316,607.

We had 796 contracts filed for today representing 79,600 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 796 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 470 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 (20754 x 100 oz ), to which we add the difference between the open interest for the front month of FEB. (796 CONTRACTS) minus the number of notices served upon today 796 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 (20,754) x 100 oz + (796) {OI for the front month} minus the number of notices served upon today (796) x 100 oz which equals 2,075,400 oz (64.553 TONNES) + 54,400 oz (1.723 TONNES) ex. for risk/prior// NEW total standing OR 66.276 TONNES

TOTAL COMEX GOLD STANDING FOR FEB: 66.276 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: 18,259,880.491 OZ

TOTAL REGISTERED GOLD 8,088,671.657 (251.59 tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 10,171,208.874 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 6,734,286 oz (REG GOLD- PLEDGED GOLD) 209.464 tonnes/dropping like a stone

END

SILVER/COMEX

FEB 28/INITIAL

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

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	1020.561 oz Delaware .
Deposits to the Dealer* Inventory*	nil OZ
Deposits to the Customer Inventory	257,734.310 oz Brinks Loomis
No of oz served today (contracts)	0 CONTRACT(S) (NIL 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 2 deposits customer account:

i) Into Brinks 161,389.910 oz

ii) Into Loomis: 96,344.400 oz

total customer deposits 251,734.310 oz

JPMorgan has a total silver weight: 129.806 million oz/282.005 million or 46.26%

adjustment: customer to dealer/ASAHI 585,748.610 oz

dealer to customer JPM 315l,324.674 oz

Comex withdrawals: 0

i)Delaware 1020.561 oz

total withdrawal: 1020.561 oz

TOTAL REGISTERED SILVER: 49.378 MILLION OZ//.TOTAL REG + ELIGIBLE. 282.075 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:

silver open interest data:

FRONT MONTH OF FEB. /2023 OI: 0 CONTRACTS HAVING LOST 4 CONTRACT(S). WE HAD 4 NOTICES FILED ON TUESDAY SO WE GAINED 0 CONTRACT OR AN ADDITIONAL NIL OZ OF SILVER CONTRACTS WILL STAND FOR DELIVERY AT THE COMEX

MARCH LOST 11,027 CONTRACTS TO 6773. WE HAVE 1 MORE READING DAYS BEFORE FIRST DAY NOTICE.

APRIL SAW A GAIN OF 196 CONTRACTS TO STAND AT 773

MAY SAW A GAIN OF 9232 CONTRACTS UP TO 113,923.

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

Comex volumes// est. volume today 49,805 poor

Comex volume: confirmed yesterday 89,189 excellent

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. (0) and the number of notices served upon today 0 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the FEB/2024 contract month: 1308 (notices served so far) x 5000 oz + OI for the front month of FEB. (0) – number of notices served upon today (0 )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!

FEB28/WITH GOLD DOWN $1.00 TODAY NO CHANGES IN GOLD INVENTORY AT THE GLD INVENTORY RESTS AT 826.94 TONNES

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

GLD INVENTORY: 826.04 TONNES

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

FEB 28/WITH SILVER DOWN 7 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 5.123 MILLION OZ INTO THE SLV//// : SLV INVENTORY RESTS AT 433.086 MILLION OZ

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 433.086 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

END

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

German financial magazine interviews GATA secretary on gold price suppression

Submitted by admin on Tue, 2024-02-27 17:19 Section: Daily Dispatches

5:17p ET Monday, February 27, 2024

Dear Friend of GATA and Gold:

Rainer Kromarek of the German financial magazine Smart Investor has just interviewed your secretary/treasurer about gold price suppression and what it will take for the monetary metal to break free of its central bank chains.

The interview can be found at the Smart Investor internet site —

Im Zangengriff der Notenbanken

— and is easily translated to English by modern internet browsers.

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

END

Why? what are they afraid of?

(GATA)

Fed chairman Powell refuses to answer congressman’s questions on gold repatriation

Submitted by admin on Wed, 2024-02-28 13:42 Section: Daily Dispatches

By Ken Silva
HeadlineUSA, Charlotte, North Carolina
Wednesday, February 28, 2024

Concerned about a weaponized financial system, many countries have signaled plans to remove their gold and other assets from the United States in the wake of the unprecedented Western sanctions imposed on Russia over its invasion of Ukraine.

And at least one congressman is demanding answers from the Federal Reserve as to how much foreign gold has actually been removed from U.S. shores so far.

According to a 2023 Invesco survey, a “substantial percentage” of central banks expressed concern about how the U.S. and its allies froze nearly half of Russia’s $650 billion gold and forex reserves. One anonymous central banker told Invesco that his country quietly repatriated its gold from London, and some 68% of the banks surveyed said they are keeping their gold reserve within their country’s borders—up from 50% in 2020. …

… For the remainder of the report:

https://headlineusa.com/fed-chair-tight-lipped-on-foreign-nations-evacuation-of-gold-from-u-s

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/

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

ONSHORE YUAN: CLOSED DOWN 7.1991

OFFSHORE YUAN: DOWN TO 7.2142

SHANGHAI CLOSED DOWN 57.63 PPTS OR 1.91%

HANG SENG CLOSED DOWN 253.95 PTS OR 1.51%

2. Nikkei closed DOWN 31.49 PTS OR .08%

3. Europe stocks SO FAR: MOSTLY ALL RED EXCEPT GERMANY

USA dollar INDEX UP TO 104.05 EURO FALLS TO 1.0812 DOWN 29 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.692 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 150.65/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 DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: DOWN/ OFFSHORE: DOWN

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund UP TO +2.4495***/Italian 10 Yr bond yield UP to 3.896* /SPAIN 10 YR BOND YIELD UP TO 3.339…**

3i Greek 10 year bond yield UP TO 3.389

3j Gold at $2030.20 silver at: 22.39 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble UP 0 AND 42 /100 roubles/dollar; ROUBLE AT 91.63//

3m oil into the 78 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 150.65// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.692% 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 0.8801 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9518 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: 4.287 DOWN 3 BASIS PTS…

USA 30 YR BOND YIELD: 4.417 DOWN 2 BASIS PTS/

USA 2 YR BOND YIELD: 4.683 DOWN 3 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 31.19…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: UP 4 BASIS PTS AT 4.220

end

2.a Overnight: Newsquawk and Zero hedge

Future Slide As Hawkish Fed Concerns Return

WEDNESDAY, FEB 28, 2024 – 08:16 AM

US stock futures slumped, pointing to a weak open on Wall Street with both Tech and small-caps underperforming, as traders braced for today’s revised GDP print and tomorrow’s core PCE report which whisper sees coming in hotter than expected and may further push back on expectations for rate cuts.

As of 7:50am, contracts on the Nasdaq 100 drop 0.5%, while S&P 500 futures down 0.4% as European stocks hovered below record high while Asia was dragged lower by Chinawhere regulators are taking steps to shrink the size of a popular quantitative trading strategy “Direct Market Access” that contributed to turmoil in the nation’s stock market this month. Bond yields are lower, and the USD is stronger, while commodities are mixed with base metals higher and energy lower. Bitcoin surged again rising just shy of $60K following record inflows into the Blackrock bitcoin ETF. The macro data focus will be on details surrounding the second estimate of Q4 GDP, as well as the latest inventory data (the more important data kicks off tomorrow with PCE and then Friday’s ISM number). Today’s price action may be more about month-end rebalancing where JPM’s Quant & Derivs Strategy team thinks that we could see stocks lose as much as 1.5% on the rebalance and that rebalancing moves can occur before month-end.

In premarket trading, Nvidia dropped 1.3% in premarket trading, dragging the megacap sector lower. Here are some other notable premarket movers:

Ambarella (AMBA) gains 7% after the company projected revenue for the first quarter that topped the average analyst estimate at the midpoint.
Array (ARRY) slips 6% following its earnings, which prompted BNP Paribas to downgrade the renewable energy equipment maker and give the stock its only negative analyst rating.
Beyond Meat (BYND) soars 61% after it reported fourth-quarter sales that surpassed expectations.
Bumble (BMBL) falls 10% after the online dating company issued first-quarter guidance that was weaker than forecast. The company is cutting about one-third of its workforce after a recent executive shakeup.
Coupang (CPNG) jumps 8% after South Korea’s largest online retailer reported its fastest revenue growth since 2021.
Credo Technology (CRDO) gains 7% after the communications equipment company reported earnings that prompted a price target raise at Cowen, which said the results signal the company is “well past the bottom”

Cryptocurrency-linked stocks gained as Bitcoin advanced for a fifth day, on track for its biggest monthly increased since October 2021. The launch of spot Bitcoin exchange-traded funds in the US in early January has driven a surge in buying, overcoming concerns over slower Fed rate cuts. Bitcoin climbed above $59,000 Wednesday, up almost 40% in the month.

Aside from earnings, attention will be on the latest US GDP print and tomorrow’s inflation numbers and a strong line-up of central bank speakers. Investors are contending with an erosion in expectations for how much the Federal Reserve and European Central Bank will lower rates.

“In December, markets priced sizeable rate cuts in 2024, but what’s happened is we have had slightly problematic inflation prints in most parts of the world,” said Guy Miller, chief market strategist at Zurich Insurance Co. “The US economy has done better than what many people expected, the labor market remains tight and wage gains have been higher than what central bankers are comfortable with.”

Meanwhile, traders have moved to price only 75 basis points of US easing by year-end, in line with what Fed policymakers in December indicated is the likeliest outcome. Treasury yields dipped Wednesday, while a gauge of the dollar strengthened to the highest since Feb. 20.

In Europe, the Stoxx 600 index edged 0.2% lower as investors digested the latest earnings; telecoms and insurance stocks outperforme while personal care stocks are the worst performers, led lower by Reckitt Benckiser, whose sales missed expectations and its shares tumbled 12%, the most since 2008, after the consumer goods company said its sales fell. Tech was also hit after Dutch chip gear firm ASM International slipped as it projected revenue for this quarter that fell far below market expectations. Here are the biggest movers Wednesday:

Glanbia rose as much as 7.2% on the Irish stock exchange, the most in almost a year, after publishing strong full-year results and announcing a share buyback program.
Alcon rose as much as 6% after releasing results after the market close on Tuesday that were seen as positive by analysts. Highlights include the Swiss eye-care producer’s above-consensus guidance.
UCB shares gained as much as 5.1%, to the highest since May 2022, after the biopharmaceutical company reported earnings for the year that beat analysts’ estimates. Citigroup noted the profit share of its Evenity osteoporosis drug is “under-appreciated.”
Reckitt Benckiser shares drop as much as 10%, hitting their lowest level since March 2020, after the household-goods maker reported a surprise fall in like-for-like sales in the final quarter of 2023, missing expectations across the board.
St James’s Place plunged as much as 33% after the wealth management firm reported an adjusted pretax loss for the full year, with analysts flagging an ongoing service charge issue and a sharp dividend cut.
ASM International declined as much as 6.1% in Amsterdam after the chip equipment maker gave a weaker-than-expected forecast for the current quarter, showcasing the challenge in near-term demand before an expected improvement later this year.
Worldline plunged as much as 17% after the French payment processor reported a net loss of €817 million for 2023 due to goodwill impairments. The results and guidance met lowered expectations, yet investors are still cautious.
Just Eat Takeaway falls as much as 7.6% in Amsterdam after the food delivery firm issued guidance for 2024 revenue growth which analyst considered cautious.

Earlier in the session, Asian stocks closed lower, dragged by China where the CSI 300 Index dropped as much as 1.3% to touch session low following a report that regulators are taking steps to gradually shrink the size of a popular quantitative trading strategy. Some quantitative funds that manage money for external clients were told to stop accepting new inflows and phase out existing products for “Direct Market Access.” Small-cap indexes fall more: CSI 1000 Index drops as much as 4.5% and CSI 2000 Index -6.8%. Meanwhile, Hong Kong stocks slumped more than 1% as the city’s budget report failed to impress investors. Chinese stocks fell after a recent rally took gauges to resistance levels, with traders looking to this week’s manufacturing report and a key political meeting in Beijing next week for momentum.

“This move to deleverage could lead to an extended drop and might be a replay of the slump in January. This is hits across all gauges, as quants usually hold thousands of stocks at once, and the unexpected move leads to a wave of selling,” says Chen Zunde, fund manager ate Guangdong Fund Investment Co.

Hang Seng and Shanghai Comp. were pressured amid initial developer-related concerns after a wind-up petition was filed against Country Garden, although the property sector in Hong Kong then recovered after the government announced the cancellation of all demand-side property tightening measures for residential.
ASX 200 was indecisive with tech strength offset by weakness in telecoms, consumer stocks and financials, while data showed softer-than-expected monthly CPI in January and a miss on Construction Work Done for Q4.
Nikkei 225 lacked conviction but remained above the 39,000 level in the absence of any pertinent catalysts.

In FX, the dollar has benefited from the risk-off mood. The Bloomberg Dollar Spot Index rises 0.2% as the greenback gains versus all its G-10 rivals. The kiwi is the weakest, falling 1.2% versus the dollar after the RBNZ softened its threat of a hike amid signs inflation pressures are waning. Elsewhere, the New Zealand dollar slid more than 1% after the Reserve Bank of New Zealand delivered less hawkish comments on inflation, citing how most measures of price expectations have fallen. Meanwhile, Nigeria’s naira weakened to a fresh low after a much-bigger-than-expected 400 basis point interest rate increase by the central bank on Tuesday failed to support the currency. The naira has been sapped by a local scarcity of dollars and an outstanding backlog of demand for the greenback

In rates, treasury futures hold small gains accumulated during early London session as bunds and gilts advanced, with yields richer by 1bp-2bp across the curve. Weakness in US technology shares pressures S&P 500 futures, further supporting Treasuries. 10-year Treasury yields at 4.29% are ~2bp richer on the day with bunds slightly outperforming and gilts lagging by less than 1bp in the sector; Tuesday’s notable curve-steepening move remains intact with 2s10s and 5s30s trading near top of Tuesday range. IG dollar issuance slate already includes a few names; seven issuers priced $8.5b Tuesday, leaving weekly total already above the $35b expected. Borrowers paid concessions of less than 2bps driven by order books said to be 3.3 times oversubscribed. US session highlights include 4Q GDP revision, and corporate issuance slate is expected to remain busy.

In commodities, oil fell after a two-day gain as signs of higher US inventories vied with expectations that OPEC+ will extend supply cuts. WTI fell 1.1% to trade near $78. Iron ore resumed its slide, as investors remained undecided about the strength of China’s demand for steel ahead of the nation’s usual peak construction season. Spot gold falls 0.2%.

Bitcoin continues to soar and currently holds just shy of the $60k mark less than $10k away from a new all time high, boosted by a record inflow into the IBIT ETF.

Looking at today’s calendar, US economic data includes second estimate of 4Q GDP, January advance goods trade balance and wholesale inventories (8:30am). Fed speakers scheduled include Bostic (12pm), Collins (12:15pm) and Williams (12:45pm).

Market Snapshot

S&P 500 futures down 0.4% to 5,071.50
STOXX Europe 600 down 0.2% to 495.55
MXAP down 0.7% to 172.05
MXAPJ down 0.8% to 523.37
Nikkei little changed at 39,208.03
Topix down 0.1% to 2,674.95
Hang Seng Index down 1.5% to 16,536.85
Shanghai Composite down 1.9% to 2,957.85
Sensex down 0.8% to 72,478.32
Australia S&P/ASX 200 little changed at 7,660.42
Kospi up 1.0% to 2,652.29
German 10Y yield little changed at 2.45%
Euro down 0.4% to $1.0803
Brent Futures down 0.9% to $82.92/bbl
Brent Futures down 0.9% to $82.92/bbl
Gold spot down 0.2% to $2,025.50
U.S. Dollar Index up 0.35% to 104.20

Top Overnight News

European stocks struggled for traction and US futures slipped as traders brace for a slew of economic data in the second half of the week that will help determine the path of monetary policy.
Goldman Sachs Group Inc. Chief Executive Officer David Solomon said softer spending by consumers calls into question expectations that the US economy will avoid a recession.
US President Joe Biden and Republican frontrunner Donald Trump both cruised to victory in their party’s Michigan primary elections Tuesday, with results for the two candidates indicating discontent among Democrats and Republicans for the likely nominees.
Bond traders no longer expect the Federal Reserve to lower interest rates by more than 75 basis points this year, bringing their view in line with what Fed policy makers have indicated is the likeliest outcome.
Europe’s biggest asset manager is joining a chorus of investors who are turning bearish on Switzerland’s franc after slowing inflation has eliminated the need for the central bank to prop up the currency.
Chinese regulators are taking steps to gradually shrink the size of a popular quantitative trading strategy that contributed to turmoil in the nation’s stock market this month, according to people familiar with the matter.

Earnings

Baidu Inc (BIDU) Q4 2023 (USD): EPS 3.08 (exp. 2.48), Revenue 4.92bln (exp. 4.86bln) Shares -1.2% in pre-market trade
eBay Inc (EBAY) – Q4 2023 (USD): Adj. EPS 1.07 (exp. 1.03), Revenue 2.56bln (exp. 2.51bln); authorised additional 2bln share repurchase programme and raises quarterly cash dividend 8% to 0.27/shr. Shares +3.2% in pre-market trade
Beyond Meat (BYND) Q4 2023 (USD): Revenue 73.7mln (exp. 66.8mln), Adj. EBITDA loss 125mln (exp. loss 47mln); FY revenue view 315-345mln (exp. 344mln) Shares +55% in pre-market trade
ASM International (ASM NA) – Q4 (EUR): Normalised Net 100mln (exp. 137mln, prev. 142mln Y/Y), Normalised Op. 141mln (prev. 190mln Y/Y), Revenue 633mln (exp. 647mln, prev. 725mln Y/Y), Launches 150mln share buyback. Raises dividend to 2.75/shr (prev. 2.50/shr). Guides Q1 Revenue 600-640mln. (Newswires) Shares -3.7% in European trade / peer Nvidia (-1.2% pre-market) lags
Reckitt (RKT LN) – Q4 (GBP): LFL Sales -1.2% (exp. 1.75%), FY LFL Sales +3.5% (exp. 4.15%), Revenue 3.56bln (exp. 3.6bln). Sees 2024 capital expenditure to be 3-3.5% of Net Revenue. Sees 2024 adj. operating profit to grow ahead of net revenue growth. Shares -10.1% in European trade

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded cautiously and followed suit to the rangebound performance seen on Wall St where stocks largely ignored weak US data ahead of key events, while the region also digested a couple of data releases and the RBNZ policy announcement. ASX 200 was indecisive with tech strength offset by weakness in telecoms, consumer stocks and financials, while data showed softer-than-expected monthly CPI in January and a miss on Construction Work Done for Q4. Nikkei 225 lacked conviction but remained above the 39,000 level in the absence of any pertinent catalysts. Hang Seng and Shanghai Comp. were pressured amid initial developer-related concerns after a wind-up petition was filed against Country Garden, although the property sector in Hong Kong then recovered after the government announced the cancellation of all demand-side property tightening measures for residential.

Top Asian News

Hong Kong Financial Secretary Chan said in the budget address that momentum for economic recovery needs to be improved amid global challenges. Chan announced the government is to cancel all demand-side property tightening measures for residential and noted there is room to further adjust measures for the property market, while it will waive stamp duties payable on transfer of REIT units.
HKMA said the maximum loan-to-value ratios will be adjusted to 70% for self-occupation residential properties valued at HKD 30mln or less, while the maximum LTV ratio will be adjusted from 50% to 60% for non-self-use residential properties.
RBNZ kept the OCR unchanged at 5.50% as expected, while it slightly lowered its OCR projections and said the OCR needs to remain at a restrictive level for a sustained period. The committee remains confident that the current level of the OCR is restricting demand but also noted that headline inflation remains above the 1%-3% target band, limiting the committee’s ability to tolerate upside inflation surprises. Furthermore, the RBNZ reduced its OCR forecast with the June 2024 view lowered to 5.59% from 5.67% and the March 2025 view lowered to 5.47% from 5.56%.
RBNZ Governor Orr said during the press conference Q&A that they did discuss a hike in rates and there was strong consensus that the current level of rates was sufficient, while he added that many variables have given them confidence that policy is working and noted that underlying inflation is still a concern, but headline inflation is easing.
China reportedly tells quants to phase out Direct Market Access (DMA) products blamed for turmoil, according to Bloomberg sources; Chinese markets extended losses following this news.
PBoC governor and Shanghai party chief held a seminar on Tuesday; PBoC supports Shanghai’s high-level opening up financially

European bourses, (Stoxx600 -0.1%), are mixed, but with clear underperformance in the AEX (-0.7%), after poor results from chip-maker ASM International (-3.8%). European sectors hold a negative tilt; Optimised Personal Care Drug and Grocery is dragged down by Reckitt (-8.9%) post-earnings, whilst Mercedes-Benz (+1.7%) drives Autos higher. US Equity Futures (ES -0.5%, NQ -0.9%, RTY -0.8%) are entirely in the red, paring back most of the gains seen in the prior session, with underperformance in the NQ hampered by Nvidia (-1.9% pre-market).

Top European News

ECB’s de Guindos says recent inflation outlook has been very positive and prices will continue to decline; we need to be sure that prices will move towards our 2% target

USD is making gains vs. all peers with January PCE data tomorrow expected to come in hot. DXY has reclaimed 104 status and taken out its 100, 10 and 21DMAs as well as a cluster of highs from last week. Current high today at 104.24.
EUR is hampered by the broadly firmer USD with EUR/USD oscillating around the 1.08 mark after taking out yesterday’s low of 1.0812.
GBP is dragged lower by the USD after yesterday’s failure to test 1.27 to the upside. Session low currently sits at 1.2622 with the 22nd Feb low at 1.2612.
USD/JPY remains arguably the most important pair to watch after printing a high of 150.79 with the YTD peak just above at 150.88. The further the pair climbs, the more likely is jawboning from Japanese officials and speculation over intervention.
NZD is the standout laggard across the majors as the RBNZ stood pat on rates vs. a 30% chance of a hike accompanied by dovish tweaks to the OCR projections. NZD/USD has erased all of last week’s gains and slipped below the 0.61 mark with the next downside support via its 100DMA at 0.6091. AUD lower in sympathy as well as the region’s soft inflation metrics overnight.
PBoC set USD/CNY mid-point at 7.1075 vs exp. 7.2023 (prev. 7.1057).

Fixed Income

USTs are marginally firmer with specifics light and perhaps some follow-through from the dovish RBNZ OCR projections in the absence of other drivers. Action which comes after Tuesday’s bear-steepening.
Bunds are modestly firmer with specifics light and the focus once again on supply. Bunds are eking out marginal new highs of 132.41 seemingly as US equity futures deteriorate further, but ultimately remains comfortably within yesterday’s 132.02-71 range.
Gilt price action is similar to that seen in EGBs with Gilts also able to eke out some very marginal gains but well within Tuesday’s 97.22-98.15 bounds; a UK outing produced a wide 2.2bps tail, resulting in modest pressure in Gilts.
UK sells GBP 4.0bln 4.00% 2031 Gilt: b/c 3.0x, average yield 4.085%, tail 2.2bps.
Italy sells EUR 8.25bln vs exp. EUR 7.50-8.25bln 3.35% 2029 & 3.85% 2034 BTP and EUR 1.5bln vs exp. EUR 1.00-1.50bln 2031 CCTeu.
Orders for Italy’s new 6yr BTP Valore retail bond reaches 12bln since the start of the odder, according to bourse data cited by Reuters

Commodities

A downbeat session for the broader crude complex in what is seemingly a function of a firmer Dollar and a subdued risk tone. Brent May futures have slipped below USD 82.00/bbl.
The firmer Dollar exerts broader pressure on precious metals, although losses are capped ahead of key US data alongside a number of Fed speakers; XAU approaches USD 2,025/oz to the downside after falling under its 50 DMA at 2,032.15/oz.
Base metals are softer across the board amid the aforementioned pressure from the stronger Greenback, whilst Chinese markets overnight continued to tumble despite intervention from regulators.
US Private Energy Inventory (bbls): Crude +8.4mln (exp. +2.7mln), Cushing +1.8mln, Gasoline -3.3mln (exp. -1.5mln), Distillate -0.5mln (exp. -2.1mln)
Trafigura Chief Economist says oil market talk has shifted to upside risk; oil spreads show a relatively tight market, via Bloomberg TV.
Citi upgrades 0-3m Palladium price targe price forecast to USD 1200/oz (prev. 950/oz) on the prospect of imminent supply cuts; bounce would present a tactical opportunity for spec selling and producer hedging; sees structural long-term downtrend.

Geopolitics: Middle East

US Central Command said a US aircraft and a coalition warship shot down five Houthi one-way attack unmanned aerial vehicles in the Red Sea on Tuesday, according to Reuters.
“Israeli sources: The Israeli delegation returned from Doha after two days of negotiations on the detainee deal without progress”, according to Sky News Arabia

Geopolitics: Other

China’s Vice Foreign Minister Sun Weidong conducted consultations in Moscow where he met with his counterpart and the Russian Foreign Minister, while he stated that China supports Russia’s BRICS presidency and stands ready to continuously strengthen strategic coordination between both sides in international multilateral platforms. Furthermore, Sun said both sides should strengthen communication and coordination in Asia-Pacific affairs, as well as jointly safeguard regional security and stability.
South Korea and the US are to conduct annual military drills from March 4th-14th.

US Event Calendar

07:00: Feb. MBA Mortgage Applications -5.6, prior -10.6%
08:30: 4Q GDP Annualized QoQ, est. 3.3%, prior 3.3%
- 4Q Personal Consumption, est. 2.7%, prior 2.8%
- 4Q GDP Price Index, est. 1.5%, prior 1.5%
- 4Q Core PCE Price Index QoQ, est. 2.0%, prior 2.0%
08:30: Jan. Retail Inventories MoM, est. 0.4%, prior 0.8%
- Jan. Wholesale Inventories MoM, est. 0.2%, prior 0.4%
08:30: Jan. Advance Goods Trade Balance, est. -$88.5b, prior -$88.5b, revised -$87.9b

Central Bank Speakers

12:00: Fed’s Bostic Participates in Fireside Chat
12:15: Fed’s Collins Gives Remarks, Fireside Chat
12:45: Fed’s Williams Delivers Keynote Remarks

DB’s Jim Reid concludes the overnight wrap

Henry is on duty tomorrow but given it will be a leap day I wanted to wish all those EMR readers who were born on February 29th a very happy birthday for tomorrow! The last time it fell on a workday was in 2016 so make sure your workmates shower you with 8 years’ worth of gifts.

The week so far has been a bit of a crawl and not the leaps of last week as we await the all important core PCE print tomorrow. Yesterday saw equities post marginal gains (S&P 500 +0.17%), with bond yields edging up across the globe. Despite the subdued tone in markets, there’ve been some important headlines on the political side overnight, as former President Donald Trump seems to be on track to record another primary victory in Michigan. Current estimates are pointing to a big winning margin for Trump (68%) against Nikki Haley (26.8%) with 70% of the vote in, and that comes ahead of Super Tuesday next week, when 15 states will be holding votes on the Republican side. So if Trump is able to keep winning those contests, then he’ll soon have a very substantial delegate lead on the way to the nomination.

Overnight, the Reserve Bank of New Zealand held its official cash rate (OCR) unchanged at 5.5% – a 15-year high but on a day where there was a small chance of a hike delivered a relatively dovish stance. The central bank in its statement highlighted that “core inflation and most measures of inflation expectations have declined and the risks to the inflation outlook have become more balanced”. Following the decision, t he kiwi (-0.94%) is trading at $0.6113, after being one of the best performers in the last month with some hiking probabilities priced in. Bonds rallied with yields on the 10yr government bonds dropping -9.2bps to trade at 4.71% as we go to print.

Asian equity markets are slightly lower as I type with the Nikkei (-0.10%), Hang Seng (-0.27%), CSI (-0.30%) and the Shanghai Composite (-0.67%) declining. Shares of embattled developer Country Garden fell more than -12.0% after it received a liquidation petition in a Hong Kong court over its inability to repay a HK$1.6 billion ($204 million) loan and complicating its debt revamp prospects. On the flip side the HK budget is ongoing and restrictions on the property market have been lifted and boosts to tourism have been announced. Elsewhere, the KOSPI is nearly +1.0% higher this morning after two days of declines. US equity futures are just below flat with yields on 10yr USTs down -0.98bps, standing at 4.29%.

In early morning data, Australia’s CPI unexpectedly remained steady at +3.4% y/y in January (v/s +3.6% expected). YoY Core-CPI was +4.1% in January down from the +4.2% increase seen in December.

When it came to yesterday, the main story was more that there wasn’t much of a story, with little movement across the major asset classes. Among equities, there were some modest movements, with the S&P 500 (+0.17%) closing just below its all-time high, having basically been in a narrow band since the Nvidia results last week. Currently it’s down -0.21% for the week, meaning it still needs to recover a bit in order to achieve a joint record of 16 weekly advances in the last 18 (currently on 15/17 for first time since 1989). Small-cap stocks continued to outperform, with the Russell 2000 up +1.34%, in contrast to the Dow Jones, which was down -0.25%. Tech stocks saw a marginal outperformance, with the NASDAQ up +0.37% and Magnificent 7 up +0.22%. It shows the signs of the times that Apple yesterday announced the closure of its electric car unit which it set up in 2014 that at one point promised autonomous driving within a reasonable timeframe. The fact that they did this partly to divert resources to AI shows how trends can change.

Over in Europe the aggregate equity move was very similar, with the STOXX 600 up +0.18%, whilst the DAX (+0.76%) posted a 5th consecutive gain to reach a fresh all-time high.

On the rates side, Treasuries saw a mild sell off despite a fairly well digested 7yr auction. By the close, the 10yr Treasury yield was up +2.4bps to 4.30%. That said, there were some interesting trends on inflation expectations, which have continued to move higher over recent days. For instance, while the nominal 2yr yield was down -2.6bps, the 2yr breakeven was up a further +3.6bps to 2.75%, which is its highest level since March last year. Bear in mind that the 2yr breakeven began the year at 2.02%, so we’ve seen a pretty substantial move in just two months, which goes some way to explain why investors now don’t expect the rapid rate cuts that were priced at the start of the year. The amount of Fed cuts priced in 2024 inched down to 77bps, so now essentially in line with the 75bps of cuts penciled in by the median FOMC dot back in December. Patience on rates cuts continued to be visible in the latest Fed comments, with Fed Governor Bowman (hawk) noting that the latest inflation data “suggest slower progress in bringing inflation down toward our 2 percent target”.

Over in Europe, gilts saw some of the largest moves, which followed comments from BoE Deputy Governor Ramsden that “key indicators of inflation persistence remain elevated”. So 2 yr gilt yields were up +4.0bps to 4.33%, and 10yr gilt yields ended the session up +3.4bps at 4.19%, which is their highest level since late November. Elsewhere in Europe there was a similar pattern, with yields on 10yr bunds (+2.5bps) also hitting their highest level since November, at 2.46%.

Elsewhere yesterday, there was a mixed tone from the latest US data. On the negative side, the Conference Board’s latest consumer confidence reading for February was down to 106.7 (vs. 115.0 expected), which is the first decline in four months. Moreover, the preliminary durable goods orders for January were down -6.1% (vs. -5.0% expected). Core capital goods orders were in line at +0.1%, but with the previous month revised down by four-tenths. That said, it wasn’t all bad news, with core capital goods shipments up +0.8% (vs. +0.1% exp) in January and the Richmond Fed’s manufacturing index up to -5 in February (vs. -9 expected), ending a run of 4 consecutive monthly declines. The stronger shipments data saw the Atlanta Fed’s GDPNow model marginally upgrade its estimate for Q1 growth to an annualised 3.25%. If realised, that would be a third consecutive quarter with growth above 3%.

To the day ahead now, and data releases include the second estimate of US GDP in Q4, along with the European Commission’s economic sentiment indicator for the Euro Area in February. From central banks, we’ll hear from the Fed’s Bostic, Collins and Williams, the ECB’s Muller and the BoE’s Mann.

end

From Europe

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

US equities lower, Dollar bid and Kiwi slumped post-RBNZ as attention turns to US GDP and Fed speak – Newsquawk US Market Open

WEDNESDAY, FEB 28, 2024 – 06:06 AM

European equities are mixed, whilst US futures are entirely in the red, with Nvidia weighing on the NQ
Dollar is firmer and reclaims 104 status, focus remains on USD/JPY with YTD high in sights; Kiwi underperforms following a dovish hold at the RBNZ
Bonds are incrementally firmer with specifics light and supply heavy, awaiting US GDP 2nd estimate
Crude and base metals are hampered by the firmer Dollar
Looking ahead, US GDP (2nd), PCE Prices Prelim. (Q4), Japanese Retail Sales, Comments from Fed’s Bostic, Collins, Williams & BoE’s Mann.

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EUROPEAN TRADE

EQUITIES

European bourses, (Stoxx600 -0.1%), are mixed, but with clear underperformance in the AEX (-0.7%), after poor results from chip-maker ASM International (-3.8%).
European sectors hold a negative tilt; Optimised Personal Care Drug and Grocery is dragged down by Reckitt (-8.9%) post-earnings, whilst Mercedes-Benz (+1.7%) drives Autos higher.
US Equity Futures (ES -0.5%, NQ -0.9%, RTY -0.8%) are entirely in the red, paring back most of the gains seen in the prior session, with underperformance in the NQ hampered by Nvidia (-1.9% pre-market).
Click here and here for the sessions European pre-market equity newsflow, including earnings from Reckitt, ASM International, Holcim & more.
Click here for more details.

FX

USD is making gains vs. all peers with January PCE data tomorrow expected to come in hot. DXY has reclaimed 104 status and taken out its 100, 10 and 21DMAs as well as a cluster of highs from last week. Current high today at 104.24.
EUR is hampered by the broadly firmer USD with EUR/USD oscillating around the 1.08 mark after taking out yesterday’s low of 1.0812.
GBP is dragged lower by the USD after yesterday’s failure to test 1.27 to the upside. Session low currently sits at 1.2622 with the 22nd Feb low at 1.2612.
USD/JPY remains arguably the most important pair to watch after printing a high of 150.79 with the YTD peak just above at 150.88. The further the pair climbs, the more likely is jawboning from Japanese officials and speculation over intervention.
NZD is the standout laggard across the majors as the RBNZ stood pat on rates vs. a 30% chance of a hike accompanied by dovish tweaks to the OCR projections. NZD/USD has erased all of last week’s gains and slipped below the 0.61 mark with the next downside support via its 100DMA at 0.6091. AUD lower in sympathy as well as the region’s soft inflation metrics overnight.
PBoC set USD/CNY mid-point at 7.1075 vs exp. 7.2023 (prev. 7.1057).
Click here for more details.

FIXED INCOME

USTs are marginally firmer with specifics light and perhaps some follow-through from the dovish RBNZ OCR projections in the absence of other drivers. Action which comes after Tuesday’s bear-steepening.
Bunds are modestly firmer with specifics light and the focus once again on supply. Bunds are eking out marginal new highs of 132.41 seemingly as US equity futures deteriorate further, but ultimately remains comfortably within yesterday’s 132.02-71 range.
Gilt price action is similar to that seen in EGBs with Gilts also able to eke out some very marginal gains but well within Tuesday’s 97.22-98.15 bounds; a UK outing produced a wide 2.2bps tail, resulting in modest pressure in Gilts.
UK sells GBP 4.0bln 4.00% 2031 Gilt: b/c 3.0x, average yield 4.085%, tail 2.2bps.
Italy sells EUR 8.25bln vs exp. EUR 7.50-8.25bln 3.35% 2029 & 3.85% 2034 BTP and EUR 1.5bln vs exp. EUR 1.00-1.50bln 2031 CCTeu.
Orders for Italy’s new 6yr BTP Valore retail bond reaches 12bln since the start of the odder, according to bourse data cited by Reuters
Click here for more details.

COMMODITIES

A downbeat session for the broader crude complex in what is seemingly a function of a firmer Dollar and a subdued risk tone. Brent May futures have slipped below USD 82.00/bbl.
The firmer Dollar exerts broader pressure on precious metals, although losses are capped ahead of key US data alongside a number of Fed speakers; XAU approaches USD 2,025/oz to the downside after falling under its 50 DMA at 2,032.15/oz.
Base metals are softer across the board amid the aforementioned pressure from the stronger Greenback, whilst Chinese markets overnight continued to tumble despite intervention from regulators.
US Private Energy Inventory (bbls): Crude +8.4mln (exp. +2.7mln), Cushing +1.8mln, Gasoline -3.3mln (exp. -1.5mln), Distillate -0.5mln (exp. -2.1mln)
Trafigura Chief Economist says oil market talk has shifted to upside risk; oil spreads show a relatively tight market, via Bloomberg TV.
Citi upgrades 0-3m Palladium price targe price forecast to USD 1200/oz (prev. 950/oz) on the prospect of imminent supply cuts; bounce would present a tactical opportunity for spec selling and producer hedging; sees structural long-term downtrend.
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NOTABLE EUROPEAN HEADLINES

ECB’s de Guindos says recent inflation outlook has been very positive and prices will continue to decline; we need to be sure that prices will move towards our 2% target

DATA RECAP

EU Economic Sentiment(Feb) 95.4 vs. Exp. 96.7 (Prev. 96.2, Rev. 96.1); Consumer Confid. Final (Feb) -15.5 vs. Exp. -15.5 (Prev. -15.5); Services Sentiment (Feb) 6.0 vs. Exp. 9.0 (Prev. 8.8, Rev. 8.4); Industrial Sentiment (Feb) -9.5 vs. Exp. -9.2 (Prev. -9.4, Rev. -9.3); Selling Price Expectations (Feb) 3.8 (Prev. 4.6, Rev. 4.4); Cons Inflation Expectations (Feb) 15.5 (Prev. 11.9, Rev. 12.0)
Swedish Trade Balance (Jan) 13.3B (Prev. 3.8B, Rev. 1.9B)
Swedish PPI YY (Jan) -2.3% (Prev. -7.7%); PPI MM (Jan) 0.3% (Prev. -1.6%)
Swedish Overall Sentiment (Feb) 90.5 (Prev. 90.5); Manufacturing Confidence (Feb) 98.4 (Prev. 99.3); Total Industry Sentiment (Feb) 92.0 (Prev. 91.7); Consumer Confidence SA (Feb) 82.7 (Prev. 82.3)
Italian Manufacturing Business Confidence (Feb) 87.3 vs. Exp. 88.7 (Prev. 88.3, Rev. 88.1); Consumer Confidence (Feb) 97.0 vs. Exp. 96.9 (Prev. 96.4)

EARNINGS

Baidu Inc (BIDU) Q4 2023 (USD): EPS 3.08 (exp. 2.48), Revenue 4.92bln (exp. 4.86bln) Shares -1.2% in pre-market trade
eBay Inc (EBAY) – Q4 2023 (USD): Adj. EPS 1.07 (exp. 1.03), Revenue 2.56bln (exp. 2.51bln); authorised additional 2bln share repurchase programme and raises quarterly cash dividend 8% to 0.27/shr. Shares +3.2% in pre-market trade
Beyond Meat (BYND) Q4 2023 (USD): Revenue 73.7mln (exp. 66.8mln), Adj. EBITDA loss 125mln (exp. loss 47mln); FY revenue view 315-345mln (exp. 344mln) Shares +55% in pre-market trade
ASM International (ASM NA) – Q4 (EUR): Normalised Net 100mln (exp. 137mln, prev. 142mln Y/Y), Normalised Op. 141mln (prev. 190mln Y/Y), Revenue 633mln (exp. 647mln, prev. 725mln Y/Y), Launches 150mln share buyback. Raises dividend to 2.75/shr (prev. 2.50/shr). Guides Q1 Revenue 600-640mln. (Newswires) Shares -3.7% in European trade / peer Nvidia (-1.2% pre-market) lags
Reckitt (RKT LN) – Q4 (GBP): LFL Sales -1.2% (exp. 1.75%), FY LFL Sales +3.5% (exp. 4.15%), Revenue 3.56bln (exp. 3.6bln). Sees 2024 capital expenditure to be 3-3.5% of Net Revenue. Sees 2024 adj. operating profit to grow ahead of net revenue growth. Shares -10.1% in European trade

NOTABLE US HEADLINES

US President Biden has issued an executive order “cracking down” on US data transfers to Russia, China and Iran, according to senior US officials cited by Reuters.
Apple (AAPL) Apple is cancelling efforts to build electric cars; will shift many car project workers to generative AI efforts, and some car employees will be cut, Bloomberg reports. It was unclear how many layoffs there would be. Separately, Apple representatives engaged in a final meeting with the DoJ to dissuade an impending antitrust lawsuit, Bloomberg reports. Allegations suggest Apple imposed restrictions on iPhones and iPads to hinder competition. The suit is anticipated by the end of March, following investigations since 2019, the report added.
Microsoft (MSFT) – EU regulators are probing whether Microsoft is preventing customers from buying security software that competes with its own, according to The Information. It is the latest sign of growing scrutiny from policymakers, especially in the EU, of Microsoft’s fast-growing cloud business and its practice of bundling products.

GEOPOLITICS

MIDDLE EAST

US Central Command said a US aircraft and a coalition warship shot down five Houthi one-way attack unmanned aerial vehicles in the Red Sea on Tuesday, according to Reuters.
“Israeli sources: The Israeli delegation returned from Doha after two days of negotiations on the detainee deal without progress”, according to Sky News Arabia

OTHER

China’s Vice Foreign Minister Sun Weidong conducted consultations in Moscow where he met with his counterpart and the Russian Foreign Minister, while he stated that China supports Russia’s BRICS presidency and stands ready to continuously strengthen strategic coordination between both sides in international multilateral platforms. Furthermore, Sun said both sides should strengthen communication and coordination in Asia-Pacific affairs, as well as jointly safeguard regional security and stability.
South Korea and the US are to conduct annual military drills from March 4th-14th.

CRYPTO

Bitcoin continues to soar higher and currently holds just shy of the USD 60k mark.

APAC TRADE

APAC stocks traded cautiously and followed suit to the rangebound performance seen on Wall St where stocks largely ignored weak US data ahead of key events, while the region also digested a couple of data releases and the RBNZ policy announcement.
ASX 200 was indecisive with tech strength offset by weakness in telecoms, consumer stocks and financials, while data showed softer-than-expected monthly CPI in January and a miss on Construction Work Done for Q4.
Nikkei 225 lacked conviction but remained above the 39,000 level in the absence of any pertinent catalysts.
Hang Seng and Shanghai Comp. were pressured amid initial developer-related concerns after a wind-up petition was filed against Country Garden, although the property sector in Hong Kong then recovered after the government announced the cancellation of all demand-side property tightening measures for residential.

NOTABLE HEADLINES

Hong Kong Financial Secretary Chan said in the budget address that momentum for economic recovery needs to be improved amid global challenges. Chan announced the government is to cancel all demand-side property tightening measures for residential and noted there is room to further adjust measures for the property market, while it will waive stamp duties payable on transfer of REIT units.
HKMA said the maximum loan-to-value ratios will be adjusted to 70% for self-occupation residential properties valued at HKD 30mln or less, while the maximum LTV ratio will be adjusted from 50% to 60% for non-self-use residential properties.
RBNZ kept the OCR unchanged at 5.50% as expected, while it slightly lowered its OCR projections and said the OCR needs to remain at a restrictive level for a sustained period. The committee remains confident that the current level of the OCR is restricting demand but also noted that headline inflation remains above the 1%-3% target band, limiting the committee’s ability to tolerate upside inflation surprises. Furthermore, the RBNZ reduced its OCR forecast with the June 2024 view lowered to 5.59% from 5.67% and the March 2025 view lowered to 5.47% from 5.56%.
RBNZ Governor Orr said during the press conference Q&A that they did discuss a hike in rates and there was strong consensus that the current level of rates was sufficient, while he added that many variables have given them confidence that policy is working and noted that underlying inflation is still a concern, but headline inflation is easing.
China reportedly tells quants to phase out Direct Market Access (DMA) products blamed for turmoil, according to Bloomberg sources; Chinese markets extended losses following this news.
PBoC governor and Shanghai party chief held a seminar on Tuesday; PBoC supports Shanghai’s high-level opening up financially

DATA RECAP

Australian Weighted CPI YY (Jan) 3.40% vs. Exp. 3.60% (Prev. 3.40%); Construction Work Done (Q4) 0.7% vs. Exp. 0.8% (Prev. 1.3%)

2C ASIA AFFAIRS

WEDNESDAY MORNING/TUESDAY 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

POLAND

What a mess: Polish truckers rejoin farmers to block roads stopping imports of cheap Ukrainian grains

(zerohedge/Remix

Polish Truckers To Rejoin Farmers In Border Crossing Blockades

WEDNESDAY, FEB 28, 2024 – 02:45 AM

By Salon24.PL via Remix News

Polish truckers are to resume their border blockade protest on March 1 after having previously suspended their protest actions at the turn of the year. Truckers are demonstrating once again because they are not satisfied with what has been done to stop Ukrainian trucking companies from creating unfair competition in the Polish transport market.

The ongoing farmer protests are also about trade relations with Ukraine, with the farmers protesting about the European Commission’s decision to extend the trade agreement with Ukraine, allowing Ukrainian agricultural products to flow into the EU despite these products failing to adhere to EU standards.

Remix News & Views

@RMXnews

WATCH:

ers spill Ukrainian grain out onto the railway tracks as they ramp up their nationwide protests against cheap imported produce from the war-torn country and the EU’s green agenda.

From

Michael Ashura

WATCH: 🇵🇱🚜 Polish farmers spill Ukrainian grain out onto the railway tracks as they ramp up their nationwide protests against cheap imported produce from the war-torn country and the EU’s green agenda. pic.twitter.com/3HyhS6A3LS
— Remix News & Views (@RMXnews) February 20, 2024

Farmers are also up in arms about EU climate policies, which affect energy costs and livestock farming. On Tuesday, Feb. 27, the farmers are to stage a mass protest in Poland’s capital city of Warsaw.

The truckers action on March 1 will mark the resumption of action which began on Nov. 6. They had been promised government action to tighten controls on Ukrainian haulage firms, but these promises have not been kept. The truckers are demanding the reintroduction of licensing for Ukrainian truckers.

Former Polish Conservative (PiS) Prime Minister Mateusz Morawiecki took to X on Monday to support the protesting farmers. He called on the government to introduce an embargo on Ukrainian agricultural products.

WATCH:

Farmers drag away barricades set up by riot police to protect the EU institutions in Brussels. Really explosive situation in the city today! #Bruxelles #AgriculteursEnColere #FarmersProtest2024 #FarmerProtest2024

Copy video address

6:25 AM · Feb 26, 2024

18.4K Views

lteursEnColere #FarmersProtest2024 #FarmerProtest2024

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6:25 AM · Feb 26, 2024

18.4K Views

For more details please see Remix.news

end

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

ISRAEL HAMAS/KHAN YOUNIS/USA

ISRAEL/RAFAH/

ISRAEL/KHAN YOUNIS/

ISRAEL WEST BANK/HEZBOLLAH/HOUTHIS/RAMADAN/TEMPLE MOUNT

‘October 7, part two:’ Iran plans for terror during Ramadan, Israel charges

Defense Minister Gallant presses for more West Bank Palestinian workers, slams Ben-Gvir on Temple Mount.

By YONAH JEREMY BOBFEBRUARY 27, 2024 19:25Updated: FEBRUARY 27, 2024 21:41

Palestinians protest after Friday prayers of the holy month of Ramadan, at the Al Aqsa Mosque Compound in Jerusalem's Old City, March 31, 2023. (photo credit: JAMAL AWAD/FLASH90) — Palestinians protest after Friday prayers of the holy month of Ramadan, at the Al Aqsa Mosque Compound in Jerusalem’s Old City, March 31, 2023.(photo credit: JAMAL AWAD/FLASH90)

Defense Minister Yoav Gallant on Tuesday warned that Iran, Hezbollah, and Hamas are trying to use Ramadan to inflame the region so as to achieve another October 7 disaster against Israel.

According to Gallant, their hope is to provoke Palestinians in the West Bank, Hezbollah, and Arabs and Muslims across the region to attack and turn their rage on Israel, using the Temple Mount and tensions in the West Bank as an excuse.

The defense minister has been a leading voice for smashing Hamas and earlier in the war, tried to persuade the war cabinet to launch a preemptive strike on Hezbollah.

Gallant calls for reducing tensions

However, at this point, he believes that fighting the war without hesitation must go hand in hand with reducing tensions in areas where there is no reason for there to be tensions.

This means Gallant is strongly against National Security Minister Itamar Ben- Gvir’s push to reduce access to the Temple Mount for certain Israeli-Arabs or Palestinians during Ramadan.

Yoav Gallant overlooks the West Bank on February 27, 2024 (credit: ARIEL HERMONY/DEFENSE MINISTRY)

Further, he has pushed for over a month to allow Shin Bet-approved Palestinian West Bank workers to return to their Israeli jobs.

Prior to the war, there were around 210,000 Palestinian West Bank workers constantly going to work for Israelis, with the number of those who committed terrorist attacks in single digits.

The vast number of terrorist attacks over the years are committed by Palestinians who break through the security barrier.

Based on these consistent factors, both the IDF and the Shin Bet have consistently recommended returning Palestinian West Bank workers, as opposed to Palestinian Gaza workers, which all authorities currently oppose.

Despite these recommendations, Prime Minister Benjamin Netanyahu has sided with Ben-Gvir on most of these issues to date.

Meanwhile, in the North, IDF fighter jets struck a military site and infrastructure belonging to the Hezbollah terrorist organization in southern Lebanon.

The Hezbollah infrastructure that was destroyed was located in the villages of Jebchit, Baisariyeh, and Mansouri. In addition, Israeli forces used artillery to strike at and remove a threat in the Yaroun region.

This was following dozens of rockets being fired towards Israel earlier. The IDF reported that 35 rockets were fired against the Mount Meron area. There were no Israeli casualties from the rocket fire.

Hezbollah said it had launched the rockets at Israel’s aerial surveillance base near Mount Meron in response to the Israeli military’s deepest attack yet into Lebanese territory on Monday at Baalbek.

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.

Later Tuesday, Hezbollah said it launched another barrage of around 20 rockets targeting IDF Division 146 and Western Galilee areas which have not heard rocket sirens since the start of the war.

IDF Chief of Staff Lt.-Gen. Herzi Halevi said Hezbollah would pay a steep price if it did not back down from attacking Israel, including withdrawing its Radwan forces from the border in compliance with UN Resolution 1701 from the 2006 Second Lebanon War.

In the South, the IDF said that it destroyed Hamas rocket-launching teams hours after they had fired rockets on Israel late Monday.

Hamas fired rockets not long after Israel had made waves in the media about more southern residents returning to their homes.

Besides the small number of rockets launched by Hamas on Monday, its capabilities to launch rockets have been massively reduced since early January, with no launches at Tel Aviv or central Israel in well over a month.

The IDF also continued rooting out small groups of terrorists throughout Gaza on Tuesday, though there were no major battles.

END

GAZA

Gazans burn tires in Rafah as they protest rising costs

Palestinians burn tires during a protest in Rafah, in the southern Gaza Strip, on February 28, 2024 (Abed Rahim Khatib/Flash90)

Gazans are burning tires at a protest in the southern city of Rafah against rising prices.

“Did they bring us from Gaza [City] to here to provide us with food and drink, or to kill us?” one man says to AFP, without clarifying if he is referring to the Hamas terror group, which runs the enclave, or to Israel which called on civilians to evacuate amid the fighting.

“I do not see any government official here,” he says.

Costs for Gazan civilians are rocketing in the enclave due to a scarcity of supplies and price-gouging.

The United Nations has warned that 2.2 million people in Gaza are on the brink of famine.

END

ISRAEL/GAZA

Biden the absolute moron!

Biden Moves To Attach Conditions On Israel Using US Weapons In Gaza

WEDNESDAY, FEB 28, 2024 – 09:05 AM

The Biden White House has clearly been struggling to both maintain a coherent Gaza policy that will satisfy Democrats – progressives among them – while also holding to the longtime US stance that Israel has a right to defend itself. But that the Palestinian death toll is now nearing 30,000 – according to Gaza Health Ministry figures – is creating immense pressure on Washington, both internationally and at home.

So far throughout the war on Hamas, Biden has refused to attach conditions on the defense aid transferred to Israel. This means it’s been clear that the bulk of weaponry and bombs which land on civilians is supplied by the US. But the US administration appears ready to give the Netanyahu government an ultimatum.

Axios reports in an exclusive, “The Biden administration gave Israel until mid-March to sign a letter, provided by the U.S. on Tuesday, that gives assurances it will abide by international law while using U.S. weapons and allow humanitarian aid into Gaza, three U.S. and Israeli officials told Axios.”

Israel has 45 days to sign the letter giving these ‘assurances’. Likely, Israel will have no problem doing so bases on giving pledges to protect civilian life – but whether it actually does so is of course another matter.

According to the national security memorandum:

It also stresses that a country that uses U.S. weapons in conflict areas needs to provide “credible and reliable written assurances” that it will “facilitate and not arbitrarily deny, restrict, or otherwise impede, directly or indirectly, the transport or delivery of United States humanitarian assistance and United States Government-supported international efforts to provide humanitarian assistance.”

Sen. Chris Van Hollen, who has led efforts in the Senate for the US to attach humanitarian conditions to the lethal aid provided to Israel, has said: “We did it to make sure we have an accountability structure and that U.S. security assistance aligns with both our values and our interests.”

There’s long been speculation that if Washington shut off the weapons and munitions pipeline to Tel Aviv, the Israeli Army would quickly run out of munitions and would hardly be able to execute its war against Hamas in retaliation for Oct.7 and to free the hostages. Israel is also on a war footing with Hezbollah in the north, and a full front could open up there at any moment.

Israel is keenly aware of its damaged reputation internationally given the immense civilian death toll, and now the possibility of famine and mass starvation.

On Wednesday, Israeli military spokesperson Daniel Hagari issued a statement to a world Jewish humanitarian organization which stressed Israel is “fighting against Hamas, not against the people of Gaza.”

“Our aim in this war, our main mission, is to rescue our hostages but also make sure that the citizens of Gaza are free from Hamas,” he continued. “We are dismantling the military framework of Hamas from the north to the south. We already dismantled 18 battalions out of 24 and we are finishing the others, the last four are in Rafah.”

He further pledged that the some 1.4 million civilians in Rafah will be moved to a “safer zone” ahead of the all-out military assault of the southern city, believed to be coming by at least early March.

ISRAEL/HAMAS/WEST BANK

There is no occupation and maybe it is time to burn down the al-Aqsa Mosque

(Jerusalem Post)

Hamas chief Haniyeh calls on Arabs to storm al-Aqsa on Ramadan

Hamas terror chief Ismail Haniyeh made a televised statement on Wednesday calling on barricades at al-Aqsa Mosque at the start of Ramadan and Hamas’s “flexible” stance on hostage negotiations.

By JERUSALEM POST STAFF

Hamas leader, Ismail Haniyeh, speaks in a pre-recorded message shown on a screen during a press event for Al Quds International Institution in Beirut, Lebanon February 28, 2024.(photo credit: MOHAMED AZAKIR/REUTERS)

In a televised statement, senior Hamas leader Ismail Haniyeh called on residents of the West Bank and Jerusalem to barricade themselves at the al-Aqsa Mosque at the beginning of Ramadan. Haniyeh also called for “a broad and international movement to break the siege on al-Aqsa Mosque.”

Hostage negotiations

Haniyeh asserted that when it came to hostage negotiations, Hamas was demonstrating “flexibility,” though the terrorist group maintained that they would continue fighting.

Haniyeh addressed the possibility of the IDF’s invasion of Rafah and expressed hope that international efforts would restrain Israel’s ambitions of an invasion.

In his own words, “The occupation and its partner, the United States, will not be able to achieve through political machinations what they did not achieve in combat. The world, especially Arab states, must restrain the enemy and refuse to let them invade the city of Rafah.”

ISRAEL/HEZBOLLAH

IDF chief warns Hezbollah to pay ‘very high price,’ as fresh barrage fired at north

Terror group claims to target base in Western Galilee, as Halevi visits area; dramatic footage shows moment rockets strikes highway, meters from motorists

IDF Chief of Staff Lt. Gen. Herzi Halevi speaks during an assessment in northern Israel, February 27, 2024. (Israel Defense Forces)

Israel Defense Forces Chief of Staff Lt. Gen. Herzi Halevi warned on Tuesday that Hezbollah would “pay a very high price” for its continued attacks on northern Israel, as the terror group launched a new barrage of rockets at the Western Galilee while the army’s top general was touring the area.

The volley of rockets came hours after dozens of projectiles were fired by Hezbollah at a sensitive military site in northern Israel, as the terror group continued attacks in response to strikes deep inside Lebanon a day earlier.

“Hezbollah decided on October 7th, in the evening, that it is joining. For that it must pay a very high price,” Halevi said during an assessment in northern Israel, with the chief of the Northern Command, Maj. Gen. Ori Gordin, and the commander of the 146th Division, Brig. Gen. Yisrael Shomer.

Halevi said the IDF was “taking the right steps” to enable some 80,000 displaced Israelis from Lebanon border communities to return to their homes. He said that as a result of the IDF’s actions, “Hezbollah is no longer close to the fence.”

“I think that if we do the right thing, [the residents] will return first of all because of the security. To bring the people back here with security and quality of life, the state will know how to make an effort,” he added.

A barrage of some 20 rockets were fired from Lebanon at the Western Galilee on Tuesday afternoon, according to the IDF, with Hezbollah claiming to have targeted the 146th Division’s base, which is tasked with the area Halevi visited.

Smoke rises in northern Israel following a rocket strike from southern Lebanon, Tuesday, February 27, 2024. (AP Photo/Ariel Schalit)

It was unlikely Hezbollah knew the army chief was touring the area when it launched its attack on the base, as the visit was only published hours later and the terror group made no mention of Halevi in its statements.

Footage from the rocket attack posted to social media showed rockets impacting close to motorists on a highway in northern Israel.

The clip showed a group of people driving on Route 89 in the Western Galilee, as rockets slammed into the road just a few dozen meters in front of them.

Footage shows rockets impacting close to motorists on a highway in northern Israel earlier, following a barrage launched from Lebanon by Hezbollah.

10:43 AM · Feb 27, 2024

37K Views

The barrage set off sirens in the communities of Manot, Admit, Avdon, Yaara, Arab al-Aramshe, Hanita, Eilon, Goren, Neveh Ziv, Klil, Abu Snan, Yarka and Amka.

The Iron Dome air defense system intercepted projectiles that were heading toward populated areas.

There were no reports of injuries.

Amid the escalation, the US State Department said on Tuesday that the US does not want to see tensions rise further between Israel and Hezbollah, adding that Israel has assured Washington it wants a diplomatic solution to the issue.

Speaking at a daily news briefing, department spokesperson Matthew Miller said tens of thousands of Israelis in the north faced a real security threat which needed to be addressed and Washington was pursuing a diplomatic path to resolve the issue.

“We do not want to see either side escalate the conflict in the north and in fact,” Miller said.

On Tuesday morning, Hezbollah fired a barrage of some 35 rockets at northern Israel, in what it said was an attack on an air traffic control base atop Mount Meron, in response to Israeli airstrikes on Monday near northeast Lebanon’s Baalbek — the deepest confirmed attacks in years — that killed two members of the terror group.

An Israeli fighter jet is seen in the sky following an airstrike in southern Lebanon, February 27, 2024. (Ayal Margolin/Flash90)

The IDF said no damage was caused to the base, which is located some eight kilometers (5 miles) from the Lebanon border, in the morning attack.

Later in the day, Hezbollah again targeted the air traffic control base. In a statement, the terror group said it fired anti-tank missiles at the base at around 3:45 p.m., causing damage.

The IDF in the evening hours acknowledged that a missile struck the base, but said that “there was no damage to the site’s capabilities.”

The Mount Meron air traffic control base has been targeted by Hezbollah several times amid the ongoing war, with slight damage caused in one of the attacks.

The IDF added on Tuesday evening that it was striking Hezbollah sites in Lebanon in response to the missile attack and the barrage of 20 rockets on the Western Galilee.

The latest exchanges between Israel and the Iran-backed terror group marked a significant escalation of violence in the already restive northern border region, uncorking fresh war fears after months of steadily rising tensions that have largely been kept in check.

This picture taken from an Israeli position along the border with southern Lebanon shows rockets fired from Lebanon into Israel on February 26, 2024. (Jalaa Marey/AFP)

Hezbollah had previously responded to the Israeli strike in Baalbek with a barrage of 60 Katyusha rockets at the Golan Heights on Monday afternoon. There were no reports of damage or injuries in the attack.

Earlier Monday, Hezbollah downed an Israeli Air Force drone, an Elbit Hermes 450 model, over the Nabatieh area in southern Lebanon with a surface-to-air missile. The drones are used by the IAF for surveillance and attacks.

In response to the Monday incident, the IDF said it launched the strikes on Hezbollah’s air defense unit near Baalbek, nearly 100 kilometers (more than 62 miles) from the border.

In addition to the unprecedented strikes in Baalbek, the IDF said it eliminated a senior Hezbollah commander, Hassan Hussein Salami, in an airstrike in southern Lebanon on Monday.

Salami, whose rank is equivalent to a brigade commander, was targeted while driving in the southern Lebanon village of Majadel. The IDF said Salami was the commander of a regional unit in Hezbollah and oversaw attacks on IDF troops and Israeli communities in northern Israel.

Smoke billows from the site of an Israeli airstrike on the southern Lebanese village of Khiam near the border with Israel on February 21, 2024. (Rabih Daher/AFP)

Since October 8, Hezbollah-led forces have attacked Israeli communities and military posts along the border on a near-daily basis, with the group saying it was doing so to support Gaza during the war there.

So far, the skirmishes on the border have resulted in six civilian deaths on the Israeli side, as well as the deaths of 10 IDF soldiers and reservists. There have also been several attacks from Syria, without any injuries.

Hezbollah has named 219 members who have been killed by Israel during the ongoing skirmishes, mostly in Lebanon, but some also in Syria. In Lebanon, another 34 operatives from other terror groups, a Lebanese soldier, and more than 30 civilians, three of whom were journalists, have been killed.

Israel has warned that it will no longer tolerate the presence of Hezbollah along the Lebanon frontier, where it could attempt to carry out an attack similar to the massacre committed by Hamas in the south on October 7.

A failure of international diplomacy to force Hezbollah away from the border would necessitate an Israeli offensive, the country has said.

Reuters contributed to this report

END

ISRAEL/LEBANON/HEZBOLLAH

‘He’s losing it’: Nasrallah’s swagger is gone as emotion takes over – analysis

Signs suggest Hezbollah leader Hassan Nasrallah is unraveling. Has emotion replaced rationality?

By DR. LIRAZ MARGALITFEBRUARY 28, 2024 10:54

Hassan Nasrallah

end

One of Hezbollah leader Hassan Nasrallah‘s greatest assets, one he crafted and cultivated and became his hallmark, is his ability to convey swagger and cynicism in his speeches. Around 70% of the messages conveyed in speeches are not related to the content itself, but to his body language, intonation, and facial expressions.

With Nasrallah, it’s definitely in his intonation; every word he says is emphasized, he speaks with a half-amused grin that gives his listeners the feeling that he has another trick up his sleeve.

Swagger conveys self-confidence, and therefore anyone who hears Nasrallah manages to fall for his image – if he’s swaggering, he probably knows something we don’t.

The man has made psychological warfare into an artform. He doesn’t do too many interviews, which creates expectations for his speeches, not only among his own public but also among viewers abroad, especially in Israel. He is very calm and composed, which helps him exude great self-confidence.

How has Nasrallah lost his confidence?

Something has changed in Nasrallah’s last two speeches. Both of these speeches were made in the same week, which is the first sign that something managed to shake him.

IDF activity on the northern border (credit: IDF SPOKESPERSON'S UNIT) — IDF activity on the northern border (credit: IDF SPOKESPERSON’S UNIT)

The last two speeches also lacked his characteristic eloquence. Fluent speech is controlled by the rational parts of the brain, but in the last speech, emotion took over rationality. The speeches did not weave pearls of wisdom or linguistic expressions like Nasrallah loves to do – which all come from calculated planning of his speeches. Rather, these were particularly aggressive speeches and the primary emotion that emerged from them was anger.

When a calculated and strategic person like Nasrallah “loses it,” it is a sign of the crisis he is in. On one hand, he is not interested in war with Israel, and on the other hand, he is losing points in the war in the North, which is intensifying. So far, he had the upper hand – the fact that the North is empty of Israeli residents is a major achievement for him, but the recent blows the IDF dealt to key Hezbollah figures change the equation.

And if the reality on the ground is not enough, Defense Minister Yoav Gallant began to describe to him about those blows. He made a statement showing his ability “to speak Arabic,” to understand the rules of the game. After he finished counting his achievements in the South, Gallant moved to the North.

“Hezbollah has gone up half a [kilometer], we have taken it up one level, we can go up to 10. We can attack not only within 20 kilometers, but also within 50 kilometers. [We can attack] Beirut and any other place,” he added, with a meaningful wink – “to the [IAF] planes flying now above Lebanese skies, they have targets, they know how to attack them. We are ready to apply a tourniquet from Gaza to Beirut.”

As a result, Al Jazeera quoted Defense Minister Gallant: “The equations that Hezbollah thought it had established collapsed when we decided to attack in Damascus, Beirut, Sidon, and Nabatieh.”

This has already thrown Nasrallah off track, and in his latest speech he said: “He talks about 50 kilometers and about Beirut, but Hezbollah has an enormous and precise missile capability that extends from Kiryat Shmona to Eilat. The truth is that we are faced with two options – resistance or submission, but what is the greater price? And I say that the price of submission is high and dangerous.”

Nasrallah has no choice, he must continue the “chicken” game against Gallant. Although he wants people to think he has a well-thought-out plan where each step is calculated and planned, he has no idea what the next step will be. He does not want war but he must retaliate, and in such situations of “walking on the edge” neither side has the ability to know when responses and counter-responses will spiral out of control.

The “chicken” game is a game of who will surrender first. The game simulates two drivers speeding on a narrow road, each towards the other. One of them must swerve, otherwise there will be a head-on collision. The “chicken” (the coward) is the driver who “chickens out” and swerves at the last moment. Each player would prefer the other player to give up. A situation in which neither will give up will result in the worst outcome for both.

The tipping point is the stage in the game where there is no turning back, so Israel needs, on one hand, to show that it is not surrendering, which Gallant does excellently. On the other hand, Nasrallah will not be willing to run away with his tail between his legs. Therefore, it will be good for us to provide him with a reason to give up while saving face.

END

THIS MORNING;

IDF strikes southern Lebanon after Hamas fires rockets into Israel’s north

The IDF targeted the sources of the launch.

By JERUSALEM POST STAFFFEBRUARY 28, 2024 10:39Updated: FEBRUARY 28, 2024 12:09

https://www.jpost.com/breaking-news/article-789359

The IDF struck targets in southern Lebanon on Wednesday after Hamas took responsibility for launching missiles into northern Israel, one of which landed on a house in Kiryat Shmona.

No injuries were reported in Kiryat Shmona, according to Israeli media.

The IDF said it targeted the sources of the launch.

IDF strikes Hezbollah weapons storage facility. February 19, 2024. (credit: SCREENSHOT/IDF SPOKESPERSON'S UNIT) — IDF strikes Hezbollah weapons storage facility. February 19, 2024. (credit: SCREENSHOT/IDF SPOKESPERSON’S UNIT)

IDF strikes Hezbollah targets

IAF jets also attacked a Hezbollah munition warehouse and military buildings in the Ramyeh region of southern Lebanon, the military said.

In addition, during the night, the IDF attacked a Hezbollah weapon production site in the Khirbet Selm area.

Earlier on Wednesday, Hamas’s Al-Qassam Brigades said in a statement on its Telegram channel that it had bombed the headquarters of the 769th Eastern Brigade and the airport barracks in Beit Hillel.

Reuters contributed to this article.

USA/HOUTHIS/

US military says it shot down Houthi drones that posed ‘imminent threat’ to ships in Red Sea

By REUTERSToday, 4:50

CAIRO — The US Central Command says US aircraft and a coalition warship shot down five one-way attack drones in the Red Sea that originated from Houthi-controlled areas in Yemen.

The drones “presented an imminent threat to merchant vessels and to the US Navy and coalition ships in the region,” CENTCOM says in a statement on Wednesday.

UKRAINE VS RUSSIA/

This will be very dangerous for the world if NATO does a direct military intervention

(zerohedge)

NATO’s Debate Over Direct Military Intervention In Ukraine Shows Its Desperation

WEDNESDAY, FEB 28, 2024 – 05:00 AM

Authored by Andrew Korybko via Substack,

French President Macron hosted over 20 fellow European leaders in Paris on Monday to discuss their next moves in Ukraine, including the possibility of a conventional NATO intervention, which he said they hadn’t ruled out for reasons of “strategic ambiguity” despite not reaching a consensus on this. His Polish counterpart Duda also confirmed that this subject was the most heated part of their discussions. The very fact that this scenario is being officially considered shows how desperate NATO has become.

Russia’s victory in Avdeevka, which was the natural result of it winning the “race of logistics”/“war of attrition” with NATO, prompted policymakers to contemplate what they’ll do in the event that it achieves a breakthrough across the Line of Contact (LOC) and starts steamrolling through the rest of Ukraine. They hadn’t previously considered this to be a serious possibility until last summer’s failed counteroffensive exposed the weakness of their military-industrial complex and tactical-strategic planning.

It’s now a credible scenario that’s reviving speculation about a Polish-led intervention aimed at drawing a red line in the sand for halting any potential Russian breakthrough before it gets too far. This would preserve the G7’s “sphere of (economic) influence” in Ukraine while preventing that former Soviet Republic’s collapse and thus averting another Afghan-like foreign policy disaster for the West. The problem, however, is that Poland also doesn’t want to be put up to this only to be hung out to dry.

Although Poland has comprehensively subordinated itself to Germany after the return of Berlin-backed Prime Minister Tusk to power late last year and envisages carving out its own “sphere of influence” in Western Ukraine, this doesn’t mean that it wants to lead a Western intervention there. The risk of World War III breaking out with Russia by miscalculation is much too high and Poland might fear that NATO won’t activate Article 5 if it clashes with Russia inside Ukraine in order to prevent that from happening.

These concerns could explain why there wasn’t any consensus during Monday’s meeting on this issue since other members wisely won’t want to take the chance of catalyzing an apocalyptic scenario, ergo the reason why the West might be plotting a false flag in Poland to blame on Russia and Belarus. President Lukashenko warned about that in late February, and if it comes to pass, then it could serve as the trigger for pushing Poland into leading a Western intervention in Ukraine without full NATO backing.

Warsaw could be misled to believe without any written guarantees that it has the bloc’s support and Article 5 would be activated if its forces clash with Russia’s there, but only to be hung out to dry if that happens so as to stave off World War III by miscalculation for the greater good. Nevertheless, it would still serve the purpose of drawing a red line in the sand that could halt Russia’s advance since NATO might escalate via brinksmanship afterwards by promising to activate Article 5 if the clashes continue.

Poland would also be left to pick up the tab in that event by having to pay the financial and physical costs of this de facto NATO intervention, thus representing an amoral form of “burden-sharing” that would fall solely on its taxpayers instead of the rest of the bloc’s. The farmers’ protests that are rocking that country right now could lead to a full-blown rebellion if that happens since others could join in, however, which the ruling liberal-globalists would prefer not to unfold since they fear that they’d risk losing power.

That’s why they’re reluctant to lead a Western intervention in Ukraine since there’s a high chance that it’ll backfire on them in particular and Poland’s national interests in general despite being to the benefit of Western hegemony as a whole. Whatever ends up happening, the takeaway from Monday’s meeting in Paris and the details that were revealed about their discussions is that NATO is planning for a possible Russian breakthrough across the LOC later this year but isn’t yet sure how to react if that happens.

Poland could either be pushed to preempt that voluntarily or after being manipulated by the false flag that President Lukashenko warned last week is being plotted, with the second option also potentially being employed right after any breakthrough. If this occurs before NATO’s “Steadfast Defender 2024” drills wrap up in June, then those of the bloc’s forces that are presently training in Poland for its largest continental exercises since the Old Cold War could play a pivotal support role or possibly join in as well.

Should a breakthrough occur after those war games end as part of the Russian offensive that Zelensky claimed is being planned for as early as May, however, then Poland probably couldn’t count on as much NATO support and would likely be pressured to go it alone (at least at first) with only vague promises. Another possibility is that the exercises are extended, whether in whole or in part, including through the semi-permanent stationing of some other NATO forces like Germany’s there until the offensive ends.

That might give Poland enough reassurance to take a leap of faith in plunging head-first into Ukraine with the expectation that the rest of NATO will follow even if they purposely lag behind in order to avoid World War III with Russia by miscalculation as was previously explained. It remains to be seen what’ll happen, but as Macron himself said, “we will do everything needed so Russia cannot win the war” and this therefore means that NATO will certainly intervene to some extent if Russia breaks through the LOC.

The bloc can’t afford another Afghan-like disaster, let alone on European soil in the most geostrategically significant conflict since World War II, which is why it won’t sit idly on the sidelines as Ukraine collapses if there’s a credible chance of that happening and Russia steamrolling through the ruins. The only reason why they’re now planning for this is because Russia’s victory in the “race of logistics”/“war of logistics” makes it conceivable sometime later this year, though it of course can’t be taken for granted either.

end

Slovakia Warns ‘Bilateral Agreements’ Could See Individual NATO States Send Troops To Ukraine

BY TYLER DURDEN

WEDNESDAY, FEB 28, 2024 – 02:00 AM

Authored by Dave DeCamp via AntiWar.com,

Slovakia Prime Minister Robert Fico warned on Monday that some NATO and EU countries are considering sending troops to Ukraine, a step that would risk direct war between NATO and Russia.

“Several NATO and EU member states are considering sending their soldiers to Ukraine on a bilateral basis,” said Fico, who was elected last year on a platform of opposing the proxy war in Ukraine.

Some NATO members have signed bilateral security deals with Ukraine, including Germany and the UK, but there’s no indication they’re considering sending troops at this time.

“We see huge security risks in the bilateral agreements that are likely to be conducted soon with NATO and EU member states that want to send their troops to Ukraine,” Fico said.

He made the comments ahead of a meeting of European leaders in Paris about the proxy war in Ukraine. After the summit, French President Emmanuel Macron said the idea of Western troops in Ukraine hasn’t been ruled out.

“There’s no consensus today to send in an official, endorsed manner troops on the ground. But in terms of dynamics, nothing can be ruled out,” Macron said.

The French Foreign Ministry subsequently on Tuesday issued this curiously-worded statement:

Western countries could deploy troops to Ukraine without breaching any “belligerence threshold”, French Foreign Minister Stephane Sejourne said on Tuesday.

Western nations could engage in demining, arms production and operations in the cyber field “on Ukrainian soil… without breaching any belligerence threshold,” Sejourne said, after President Emmanuel Macron refused to rule out the dispatch of Western ground troops to Ukraine.

Troops from any single European country being in Ukraine presents issues related to NATO Article 5….

The Discord leaks revealed last year that there are a small number of NATO special operations forces inside Ukraine. According to a leaked Pentagon document, there were 97 NATO special operations soldiers in Ukraine, including 14 Americans, as of March 2023.

END

Not smart! Total theft is done

(DeCamp//Antiwar.com)

RUSSIA//USA/UKRAINE

Yellen Wants Frozen Russian Bank Funds To Be Given To Ukraine

WEDNESDAY, FEB 28, 2024 – 09:50 AM

Authored by Dave DeCamp via AntiWar.com,

Treasury Secretary Janet Yellen on Tuesday called for the US and its allies to hand $300 billion in frozen Russian central bank funds to Ukraine, a step that would significantly escalate the Western economic war against Russia.

“It is necessary and urgent for our coalition to find a way to unlock the value of these immobilized assets to support Ukraine’s continued resistance and long-term reconstruction,” Yellen said in Brazil, where Group of 20 finance ministers are meeting this week, according to The Associated Press.

The comments from Yellen mark her most supportive statement of the outright theft of Russian funds to finance the war in Ukraine. The call comes as the Biden administration is still struggling to get Congress to pass the $60 billion it’s seeking to fuel the conflict.

“I believe there is a strong international law, economic, and moral case for moving forward. This would be a decisive response to Russia’s unprecedented threat to global stability,” Yellen added.

The US needs the support of European Countries for the plan as the bulk of the Russian funds, about $200 billion, are held by European banks. The EU is still debating the idea but has approved a law to set aside profits made by the Russian central bank funds to potentially send to Ukraine.

About $67 billion of the Russian money is being held by the US Federal Reserve. US officials have previously expressed concern that spending the Russian funds could make other countries hesitant to keep funds in dollars, thus speeding up global de-dollarization.

Yellen insisted it was “extremely unlikely” that stealing the Russian funds would hurt the dollar or the currencies of US allies. “Realistically, there are not alternatives to the dollar, euro, and yen,” she said.

The White House has come out in support of the plan and says it needs “legislative authorities” from Congress to spend the funds. Legislation has been introduced in both chambers of Congress to create a fund for Ukraine using Russian money, and the bills have strong bipartisan support.

end

Oh Boy: we knew that this would happen:

(zerohedge)

Breakaway Transnistria Asks Russia For ‘Protection’ – Setting Stage For Military Intervention

WEDNESDAY, FEB 28, 2024 – 01:45 PM

As previously predicted, things are erupting in Transnistria at a moment Western officials have warned Moscow not to expand its war beyond Ukraine. The breakaway pro-Russian Moldova region on Wednesday issued a formal request from Moscow for “protection” “in the face of increased pressure,” according to AFP.

A special congress of pro-Russian officials passed a resolution which charges the Moldovan government in Chisinau with unleashing “economic war” against Transnistria with an aim to turn it into a “ghetto”, which has included blocking imports.

While internationally, the thin sliver of land has been internationally recognized as part of Moldova, it has been under Russian troop presence going all the way back to the collapse of the Soviet Union.

The breakaway republic issued a statement further saying that “The decisions of the current congress cannot be ignored by the international community.”

The formal request is expected to be put before Russia’s Federation Council and the State Duma at any moment. It asks for Russia “to implement measures to protect Transnistria in the face of increased pressure from Moldova” – and clearly this language suggests military intervention, or else other measures like immense economic and political pressure on Moldova.

Last year, the Council of Europe had formally declared Moldova’s breakaway region to “occupied territory” – upgrading its status from what was deemed territory “under the effective control of the Russian Federation.”

As we previewed days ago, Russian President Vladimir Putin is scheduled to make a speech before the Federal Assembly of Russia the following day on February 29th.

Although Transnistria has diverse ethnic demographics almost equally apportioned between Russians, Moldovans, Romanians, and Ukrainians, the Russian demographic slightly ekes out its counterparts with a majority of 29% of Transnistrians belonging to the group.

The pro-Russian cultural sentiment of the region is exemplified by its flag, which has remained the same as it was when Transnistria was a part of the Soviet Union. That representative Russian demographic, coupled with broader dissatisfaction of the Moldovan government has fostered support for assimilation into the Russian Federation for quite from time.

In 2006, a Transnistrian double referendum was held gauging popular support for the separatist state’s appetite to either renounce its independence and join the Republic Of Moldova or to maintain it and seek to join the Russian Federation. The referendum to become part of Moldova was rejected by 96% of voters while 98% approved of becoming part of Russia.

The support for assimilation into the Russian Federation demonstrated by that referendum has not since waned. If anything, the 2014 Crimean referendum integrate itself with Russia and the subsequent western interventionism culminating in the onset of Russia-Ukraine War has only emboldened Transnistria’s aim.

Vadim Krasnoselskii, President Of Transnistria, evidenced his people’s dissatisfaction with Moldova’s rule over the breakaway region by announcing the congressional assembly to deliberate over the future of the breakaway region, which has resulted in the strong statement urging Russian ‘protection’ on Wednesday.

6.Global Issues//

COVID ISSUES/VACCINE ISSUES

Robert H to us:

Exclusive: 70% of Embalmers Report Finding Strange Blood Clots Beginning in Mid-2021 • Children’s Health Defense

My God, what is occurring with people ? Does anyone understand longer term impact or even solutions?

Exclusive: 70% of Embalmers Report Finding Strange Blood Clots Beginning in Mid-2021

end

Robert H:

Pfizer and Moderna COVID Vaccines’ Efficacy Exaggerated, Effectiveness ‘Well Below’ 50 Percent, Researchers Say | The Epoch Times

I suppose unvaccinated people were more astute. And likely many more people would never had the shots if they were not forced to do so by their place of work or simple peer pressure or by government decree.

https://www.theepochtimes.com/health/pfizer-and-moderna-covid-vaccines-efficacy-exaggerated-effectiveness-well-below-50-percent-researchers-say-5595590

GLOBAL ISSUES

MARK CRISPIN MILLER

UK: Fergie’s “new diagnosis of skin cancer”; Kate Middleton’s surgery “obviously major”; Trisha Goddard’s breast cancer returns; Amy Dowden rushed to hospital; Moira Stuart collapses at a party

“Birmingham manager Tony Mowbray to take time off for medical treatment”; footballer Will Wise has Stage 4 thyroid cancer; Crystal Palace manager Roy Hodgson rushed to hospital; & more

MARK CRISPIN MILLERFEB 27

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UNITED KINGDOM

Sarah Ferguson issues emotional plea in heartbreaking update

February 20, 2024

Sarah Ferguson wearing black and white military blazer in Miami

Sarah, Duchess of York had an emotional message for fans on Tuesday when she took to social media with an incredibly touching post. The mother-of-two, 64, was pictured looking spectacular in vibrant pink leather coat and wide-leg pink trousers in honour of Breast Cancer Awareness Week. Alongside the behind-the-scenes image was a plea to followers not to “skip or put off your health care checks. I was diagnosed with breast cancer in 2023 and melanoma, an aggressive form of skin cancer, this year and had it not been for the diligence and care of my physicians, my situation could have been so much worse. It was a busy 2023 and I almost put off my routine mammogram, but my sister Jane convinced me to go. After undergoing a mastectomy and reconstruction, I could only hope that I was in the clear, which is why a new diagnosis of skin cancer came as a shock.”

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

Upgrade to paid

Link

Kate Middleton’s Abdominal Surgery Was ‘Obviously Major,’ Expert Claims

February 16, 2024

Kate Middleton won’t return to her duties until the spring, and royal experts believe her leave of absence is proof that her abdominal surgery was a serious procedure. Royal expert Cameron Walker claimed it was “no minor matter” and “obviously major. She was in there for 13 nights, 14 days and we don’t know what’s wrong, but it’s obviously major ,” he added. “She’s now recovering up at their house and the hall on the Sandringham Estate, and we wish her well.”

No age reported.

Link

Trisha Goddard, 66, reveals her breast cancer has returned and is incurable as she speaks out to free herself from the ‘burden’ of keeping illness a secret

February 18, 2024

Trisha Goddard has revealed her breast cancer has returned and while there is no cure she is undergoing life-prolonging treatment. The TV host, 66, was first diagnosed with the disease in 2008 and now has secondary breast cancer – also known as metastatic or stage 4 breast cancer – after cells were found in her hip following a fall. She told Hello! that she was speaking out in order to remove the weight of the secret from her shoulders after learning the news 19-months ago. ‘[The disease] is not going to go away, and with that knowledge comes grief, and fear. But I must keep enjoying what I have always enjoyed’.

Link

Strictly’s Amy Dowden unexpectedly rushed to hospital amid ongoing cancer treatment

February 19, 2024

Strictly Come Dancing professional Amy Dowden has shared that she unexpectedly ended up in the respiratory unit last week amid her ongoing treatment for breast cancer. The 33-year-old Welsh dancer, who first joined the cast of Strictly in 2017, announced that she could no longer compete in the BBC show after she was diagnosed with stage three breast cancer in May 2023. She has since undergone a mastectomy, chemotherapy and fertility treatment. On Monday, Dowden took to Instagram to update fans on her condition after an unexpected trip to the hospital’s respiratory unit. She captioned the photos of herself in hospital: “So last week didn’t exactly go to plan. Feeling much better now and still taking it easy.”

Link

TV News Anchor Moira Stuart Reportedly Falls Ill, Collapses at Angela Rippon’s Party

February 14, 2024

BBC broadcaster Moira Stuart reportedly fell ill during Angela Rippon’s birthday party on Monday night, and an ambulance arrived on the scene to help her. The newscaster collapsed during the celebration at the Hilton Hotel on Park Lane, London, abruptly ending the party. Louise Minchin and Michael Buerk, former colleagues of Stuart, 74, reportedly assisted her after the “funny turn.” According to a source from The Sun, the room was cleared for Stuart when the “scary” incident occurred, and she soon insisted that she was feeling fine after what happened.

Link

Birmingham manager Tony Mowbray to take time off for medical treatment

February 19, 2024

Tony Mowbray will temporarily step down from his role as Birmingham [soccer] manager to undergo medical treatment, the Championship club have announced. Mowbray will be absent from the touchline for approximately six to eight weeks, with assistant manager Mark Venus taking charge of first-team affairs. The 60-year-old said: “Following my recent LMA Health Assessment I have received a medical diagnosis that will require me to receive treatment. Undergoing treatment will necessitate that I temporarily step away from the technical area as manager of Birmingham City Football Club.”

Link

‘I thought I had overdone it during my workout – now I’m fighting stage-four cancer’: Agony of ex-pro basketballer, 30, who felt ‘invincible’ before morning commute changed his life

February 18, 2024

Will Wise, 30, originally from Philadelphia, US, but now living in London had stayed fit playing basketball professionally for seven years and continued to keep his fitness up ever since, until is 'shock' cancer diagnosis in 2022

Will Wise, 30, originally from Philadelphia, US, but now living in London, had played basketball professionally for seven years before moving to Britain and felt ‘invincible’ because he kept his fitness levels up. But while commuting from the gym to work one morning, the recruitment consultant began ‘sweating profusely’ on the tube. A headache then set in. After arriving at work, he began vomiting blood and was rushed to hospital where tests revealed he had stage-four thyroid cancer and a separate cancerous tumour in his adrenal gland. Before that morning in November, Mr Wise claimed he never had anything ‘majorly wrong’ and didn’t have any symptoms of cancer.

Link

Crystal Palace players left ‘distressed’ after manager Roy Hodgson, 76, was rushed to hospital after falling ill during training while he was facing the sack… as club confirm he’ll miss Everton match

February 15, 2024

Crystal Palace players and staff were left ‘distressed’ after boss Roy Hodgson was taken to hospital after falling ill on a dramatic day at the club’s training headquarters. Having arrived at the club’s base in Beckenham, south London, at around 9.30 am, Hodgson suffered the worrying health scare as he took training at around 11 am. The episode unfolded in full view of his squad and backroom colleagues, with many said to have been visibly shaken by the incident. Hodgson, 76, received instant on-site medical care before being taken to hospital to undergo further treatment and tests. There was encouragement on Thursday night that Hodgson was making a good recovery but he will not be well enough to take charge of Palace’s crucial relegation clash versus Everton on Monday night – with his trusted lieutenant Ray Lewington and assistant Paddy McCarthy on standby to take charge at Goodison Park.

Link

Rugby player’s diagnosis leads to stem cell appeal

February 20, 2024

Anthony Nolan Rugby player Ellis Joseph smiling

Old Redcliffians player Ellis Joseph was diagnosed with leukaemia last month after assuming his symptoms were due to his new year fitness regime. The 26-year-old, from Bristol, needs to find a stranger whose genetics match his so he can have a transplant. He saw a doctor after experiencing breathlessness and fatigue, which he put down to increased gym sessions as he recovered from a sports injury. He was told he had a throat infection and given antibiotics. Ellis called 111 on 25 January after his tiredness and laboured breathing did not go away and was told to go to hospital immediately. The rugby player was admitted to intensive care and began chemotherapy after being diagnosed with leukaemia, a type of blood cancer. He was told last week that he needs a stem cell transplant.

Link

Dad who ‘always knew’ he’d get cancer diagnosed after brother’s health scare

February 20, 2024

A dad was given a devastating diagnosis despite being symptom free. Gary Richardson [left], 45, said he had not felt at all unwell before his prostate cancer diagnosis in July 2022, but he “always knew” he would get cancer. But it wasn’t until his brother Scott, 49, was diagnosed with prostate cancer in early 2022, that the chauffeur decided to get checked himself. This led to his own diagnosis with prostate cancer six months later. Following surgery to remove his prostate, a walnut-sized gland found at the base of the bladder, in April 2023. Gary was subsequently monitored for several months before having a robotic-assisted radical prostatectomy at Guy’s Hospital surgery to remove his prostate in April 2023. Gary, who is now in remission, said his family and friends have been incredibly supportive, going “above and beyond” to help him through these challenging times.

Link

DR PAUL ALEXANDER

View in browser

Dr. JJ Couey tells this Canadian audience how much of a fraud COVID non-pandemic was! A complete fraud! A fake NON-pandemic; go from MINUTE 24

MINUTE 24 onwards

DR. PAUL ALEXANDERFEB 27

READ IN APP

end

50 to 80 years….yes come back in 50 to 80 years with this mRNA technology crap, for today, it is deadly & does not work & mass indiscriminate mRNA vaccination was a catastrophe, killed massive

numbers, so get to hell away from us Bourla, Bancel, Weissman et al., get away Malone, get your grifting tails into lab and spend 80 years & bring us proper safety testing with dish, animal research

DR. PAUL ALEXANDERFEB 28

READ IN APP

go away for 80 years and come again with full animal testing, all types of toxic data, before we can look at this filth again…you failed. shove your mRNA technology….you sought to benefit with money et al. First!…you cared not one bit for humans, else you would have safety tested. you did not, you lied…

it will take that long for you to bring us bullet-proof data on safety, to gain our confidence, to even accept this madness, to get over the disaster now. mRNA technology and vaccine kills!

the brighter future this mRNA may have needs 80 years of strong safety research before we look at it. again. and still, we have no guarantee we will be interested in it then. and even so, for that 80 year period, you need to have daily ETHICAL debates, with the nations, the peoples, for many ethical questions remain and must guide whether we accept this or not, if it is ever shown to work SAFELY!

I do not think it can ever be shown to work safely!

today, its DEAD, DEAD, DEAD!

end

SLAY NEWS

The latest reports from Slay News

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Italian TV Brutally Mocks Biden’s Mental Decline: ‘They’re All Laughing at Us.’An Italian TV comedy sketch show has released a brutal skit of Democrat President Joe Biden that mocks his mental decline.READ MORE

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Illegal Border Crosser Boasts about Living Off U.S Taxpayers, Calls for Supporters to ‘Unite’ Behind Times Sq Shooter An illegal border crosser from socialist Venezuela has posted videos on social media boasting about not having to work in the United States because he lives off American taxpayers.READ MORE

EVOL NEWS:

Microsoft Caught BRAGGING About Paying White Employees Less – EVOL
READ MORE…

LATEST NEWS:
Government Ordered Doctors to Kill Patients to Boost Covid Fears – EVOL
Read more…
Trump Forces RINO Head of RNC To Resign – EVOL
Read more…
BREAKING: High-Level Disney Executive To Be REPLACED Effective Immediately – EVOL
Read more…
REPORT: Biden Admin Has A Democrat ‘Plant’ In Fani Willis’ Office – EVOL
Read more…
Manhattan DA Wants Gag Order on Trump Before ‘Hush Money’ Trial – EVOL
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Hazmat teams respond to Donald Trump Jr’s home after white powder found in letter – EVOL
Read more…
Kristi Noem Privately Meets With Trump at Mar-a-Lago As VP Speculation Mounts – EVOL
Read more…
Judge Rules No Attorney-Client Privilege for Witness Who Can Blow Fani Willis Scandal Wide Open – EVOL
Read more..

NEWS ADDICT

LATEST REPORTS FOR NEWS JUNKIES

Government Ordered Doctors to Kill Patients to Boost Covid Fears Several doctors have come forward to blow the whistle with bombshell statements alleging they were ordered by the government to kill patients and list the cause of their deaths as “Covid” in order to boost fears about the virus among the general public.READ THE FULL REPORT

Top Expert Exposes Globalist Agenda Behind Covid Vaccines A world-renowned professor has given an explosive testimony to expose the globalist agenda behind the Covid vaccinations.READ THE FULL REPORT

Biden Painfully Struggles to Read Simple Quote President Joe Biden’s ongoing struggle against the teleprompter and notes persists, with the latter consistently gaining the upper hand in their battles. During Sunday’s event, Biden once again demonstrated why a significant number of Americans doubt his suitability for the position. “Standing here in front of this portrait of the man behind me,” he began. The “portrait of the man …READ THE FULL REPORT

Trump Forces RINO Head of RNC To Resign Ronna McDaniel, who is 50 years old, has announced that she will officially step down as the head of the Republican National Committee on March 8, as reported by the New York Post. This decision comes after former President Donald Trump urged her to resign last week. McDaniel’s resignation follows a period of speculation regarding her potential removal and increasing …READ THE FULL REPORT

Donald Trump Jr is Sent Letter Containing White Powder and Death Threat Against His Father The death threats have begun against former President Donald Trump. On Monday, an extremely personal and dangerous letter that was sent to Donald Trump Jr., along with a nondescript white powder, was reported online. Donald Trump Jr was sent this letter containing white powder. The left is doing what the regime propagandists and Biden regime is telling them to. pic.twitter.com/muelL4USE3 …READ THE FULL REPORT

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

END

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

END

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

PAKISTAN

END

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

EURO VS USA DOLLAR: 1.0812 DOWN .0029

USA/ YEN 150.65 UP 0.141 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2645 DOWN .0034

USA/CAN DOLLAR: 1.3591 UP .0059 (CDN DOLLAR DOWN 59 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED DOWN 57.63 PTS OR 1.91%

Hang Seng CLOSED DOWN 253.95 POINTS OR 1.51%

AUSTRALIA CLOSED DOWN 0.06% // EUROPEAN BOURSE: MOSTLY ALL RED (EXCEPT GERMANY)

Trading from Europe and ASIA

I) EUROPEAN BOURSES: MOSTLY ALL RED

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

/SHANGHAI CLOSED DOWN 57.63 PTS OR 1.91%

AUSTRALIA BOURSE CLOSED DOWN 0.06%

(Nikkei (Japan) CLOSED DOWN 31.49 PTS OR .08%

INDIA’S SENSEX IN THE RED

Gold very early morning trading: 2029.60

silver:$22.35

USA dollar index early WEDNESDAY morning: 104.65 UP 30 BASIS POINTS FROM TUESDAY’s CLOSE.

WEDNESDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing WEDNESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 3.095% UP 1 in basis point(s) yield

JAPANESE BOND YIELD: +0.693% UP 0 AND 3//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.342 UP 1 in basis points yield

ITALIAN 10 YR BOND YIELD 3.889 UP 0 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.4590 UP 1 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR WEDNESDAY

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

Euro/USA 1.0836 DOWN 0.0006 or 6 basis points

USA/Japan: 150.74 UP 0.224 OR YEN DOWN 22 basis points/

Great Britain/USA 1.2659 DOWN .0024 OR 24 BASIS POINTS //

Canadian dollar DOWN .0040 OR 40 BASIS pts to 1.3572

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed ON SHORE CLOSED DOWN AT 7.1984

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2164)

TURKISH LIRA: 31.20 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.693…

Your closing 10 yr US bond yield DOWN 2 in basis points from MONDAY at 4.294% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.421 DOWN 2 in basis points /12.00 PM

USA 2 YR BOND YIELD: 4.666 DOWN 3 BASIS PTS.

GOLD AT 10;30 AM 2033/35

SILVER AT 10;30: 22.39

Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: WEDNESDAY 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 78.71 12: EST/

Brent Oil: 83.41 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 91.15; ROUBLE UP 0 AND 90//100

GERMAN 10 YR BOND YIELD; +2.4590 UP 1 BASIS PTS

UK 10 YR YIELD: 4.229 UP 1 BASIS POINTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0836 DOWN .0005 OR 5 BASIS POINTS

British Pound: 1.2660 DOWN .0020 or 20 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.220 DOWN 1 BASIS PTS//

JAPAN 10 YR YIELD: 0.691%

USA dollar vs Japanese Yen: 150.70 UP 0.186//YEN DOWN 19 BASIS PTS//

USA dollar vs Canadian dollar: 1.3576 UP .0046 CDN dollar DOWN 46 basis pts)

West Texas intermediate oil: 78.42

Brent OIL: 83.45

USA 10 yr bond yield DOWN 4 BASIS pts to 4.270%

USA 30 yr bond yield DOWN 4 BASIS PTS to 4.405%

USA 2 YR BOND: DOWN 6 PTS AT 4.648%

USA dollar index: 103.88 UP 12 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 31.20 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 91.15 UP 0 AND 90/100 roubles

GOLD 2033.60 3:30 PM

SILVER: 22.44 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 23.12 PTS OR 0.06%

NASDAQ DOWN 96.54 PTS OR 0.54%

VOLATILITY INDEX: 13.74 UP 0.31 PTS OR 2.31%

GLD: $188.34 UP 0.34 OR 0.18%

SLV/ $20.55 DOWN .02 OR 0.097%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Stocks Slip As Crypto Rips & Dips On Record ETF Volumes

WEDNESDAY, FEB 28, 2024 – 04:00 PM

Well that escalated… and de-escalated quickly… but in the end, bitcoin was best…

Bitcoin rallied a stunning 13% to with a few bucks of $64,000 before a wave of selling pressure appeared (seemingly from perp futures) and triggered Coinbase chaos, wiping out $5,000 of the gains before bouncing back up again. By the end of the US equity trading session, bitcoin was at $60,000, still up 6%…

Source: Bloomberg

Near record highs intraday…

Source: Bloomberg

ETF net (in)flows have accelerated remarkably in recent days…

Source: Bloomberg

And BTC ETF volumes have exploded, driven mostly by trading activity in IBIT…

Source: Bloomberg

Ethereum had a huge day, ripping up to almost $3500, before it all fell apart and ended unch-ish…

Source: Bloomberg

ETH has notably lagged BTC in recent days after surging up (relatively speaking) to its highest since the launch of the BTC ETFS…

Source: Bloomberg

Away from crypto, stocks were lower led by Small Caps and Nasdaq today. Most of the selling pressure hit at the European open (and we bounced back into the European close), but those bounce gains wouldn’t hold. The Dow ended the day as the least ugly horse in the glue factory…

But skews are back near record lows as there remains no fear…

Source: Bloomberg

Treasuries were bid across the curve with the short-end outperforming (2Y -5bps, 30Y -2bps). That pulled 2Y and 5Y yields lower on the week…

Source: Bloomberg

This prompted some bull-steepening in the 2s30s curve…

Source: Bloomberg

The dollar jumped to one-week highs after drifting lower for a few days…

Source: Bloomberg

Gold dipped early then ripped to close green…

Source: Bloomberg

Oil prices ended lower on the day after surging above $79.50 (WTI) before sliding back after the DOE print…

Finally, about that ‘strong consumer’ – The Credit Managers’ survey shows that the rate of rejections for credit applications and the number of accounts moved to ‘collections’ is surging back to near GFC levels…

Source: Bloomberg

How the hell will all of these struggling Americans afford the $20 a month for a chatbot to tell them that the founding fathers were fat, black, lesbians?

AFTERNOON TRADING/

II USA DATA

US GDP “Grew” $334 Billion In Q4…. That Growth Cost $834 Billion In Debt

WEDNESDAY, FEB 28, 2024 – 09:38 AM

Moments ago, two things happened: Biden’s Bureau of Economic Analysis released the first revision of Q4 2023 GDP, a number which is completely irrelevant as it looks at the state of the US economy more than 2 months ago as the calendar is now just weeks away from the start of Q2 2024… and bitcoin soared above $60,000, now less than $10k away from a record high. While it may not be immediately obvious, the two events are linked. Let us explain.

First, according to the Biden admin, in Q4 GDP rose 3.2%, a modest drop from the 3.3% reported in the first estimate one month ago, and below the 3.3% consensus estimate.

While we already know this, the BEA reported that the increase in the fourth quarter primarily reflected increases in consumer spending, exports, and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased.

The increase in consumer spending reflected increases in both services and goods. Within services, the leading contributors were health care, food services and accommodations, and other services (led by international travel). Within goods, the leading contributors to the increase were other nondurable goods (led by pharmaceutical products) as well as recreational goods and vehicles.
The increase in exports reflected increases in both goods (led by petroleum) and services (led by financial services).
The increase in state and local government spending reflected increases in both investment (led by structures) and consumption expenditures (led by compensation of employees).

Comparing the first estimate with the second, we find several notable items, the first being that Personal Consumption actually rose more than expected, growing a 3.0% QoQ annualized (vs 2.8% in the first estimate), and contributing 2.0% to the bottom line GDP of 3.21%, up from 1.91% in the original estimate. Another increase was seen in fixed investment which contributed 0.43% to the bottom line, up from the 0.31% originally estimated; finally government also saw its contribution boosted, rising to 0.73%, or about a quarter, of the final GDP. These improvement were offset by a notable drop in the change in private inventories which declined from an addition of 0.07% to a subtraction of -0.27%.

Ok, none of this matters: the numbers will be revised again next month but by then all markets will care about will be not so much Q1 GDP but rather Q2 and onward. So very stale.

But what does that have to do with the bitcoin spike?

Well, a closer look at the data revealed something stunning: a quick look at the increase in nominal GDP, which rose from $27.61 trillion in Q3 to $27.94 trillion in Q4, shows that the US economy increased some $334.5 billion in absolute nominal dollar terms.

But where did this growth come from? Why debt of course, and a lot of it. For the answer how much debt, we go to the US Treasury’s Debt to the penny website, where we find that debt on Sept 30, 2023 was $33,167,334,044,723.16 and debt on Dec 31, 2023 was $34,001,493,655,565.48.

In other words, it cost $834.2 billion in debt during Q3 to grow the US economy by $334.5 billion, or exactly $2.5 in debt for every $1 in GDP “growth.”

Which also brings us back full circle and explains why bitcoin is now trading at $60,000, the highest price since late 2021 and why it will not only surpass its all time high in just a few days, but why it will rise much, much higher, because the US is now well past the point of no return.

TUCKER CARLSON

III USA ECONOMIC COMMENTARIES

“A Bold New Chapter”: Macy’s To Close 150 Stores, Focus On Luxury Consumer With Bloomingdale’s

TUESDAY, FEB 27, 2024 – 06:40 PM

Macy’s announced on Tuesday that it is entering “A Bold New Chapter,” this time focusing on a more luxurious store design as part of its turnaround strategy, which involves shifting its target market from lower-income to wealthier consumers.

“Our portfolio of iconic and globally recognized nameplates, healthy balance sheet and fortified operations position us to execute A Bold New Chapter. This strategy is designed to create a more modern Macy’s, Inc. that is expected to generate meaningful value for our shareholders in the years ahead,” Tony Spring, chief executive officer of Macy’s, wrote in the earnings report.

The pivot first includes the big-box retailer closing 150 underperforming stores over the next three years. It expects to close at least 50 of these stores by the end of this year. By 2026, Macy’s footprint will shrink to about 350 stores, slightly more than half its number before Covid.

Second, the turnaround strategy focuses on higher-end brands and will include 15 new Bloomingdale’s and 30 Bluemercury stores by 2026.

Bloomberg noted, “The announcement, accompanied by fourth-quarter results, follows a $5.8 billion buyout offer from Arkhouse Management Co. and Brigade Capital Management in December. Macy’s rejected the offer, but last week, Arkhouse nominated nine directors to Macy’s board as the activist investor persists in its efforts.”

The turnaround plan to chase wealthier shoppers comes as Spring, who had a four-decade career at Bloomingdale’s before shifting over as the head of the parent company, warned: “The shopper is still under pressure.”

David Swartz, a retail analyst at Morningstar, noted that there is far less competition for Macy’s in the luxury department space and expects a “great future.”

The pivot comes as shares have crashed 71% since peaking at $69 a share in mid-2015.

In summary, Macy’s is giving up on the working poor as the Biden administration says the middle class is doing better than ever.

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

END

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

END

SWAMP STORIES

Trump Scores 6th Straight Primary Win With Triumph Over Haley In Michigan

TUESDAY, FEB 27, 2024 – 11:28 PM

By Nathan Worcester of Epoch Times

Former President Donald J. Trump has soundly defeated former South Carolina Gov. Nikki Haley in Michigan’s Feb. 27 Republican presidential primary, notching his sixth-straight primary victory as he marches towards the GOP nomination.

The Associated Press called the race for Trump right after the last polls closed at 9 p.m. ET.

The result is another blow to Ms. Haley, coming days after a double-digit defeat in her home state of South Carolina. Despite this, she has vowed to stay on through Super Tuesday on March 5, when numerous delegate-heavy states will hold their primaries.

Ms. Haley campaigned in Michigan on Sunday and Monday and was in Colorado on Feb. 27, part of a multi-day tour ahead of Super Tuesday.

The former United Nations ambassador faces very challenging delegate math as Super Tuesday approaches, suggesting her time in the race is finite.

While 16 Michigan delegates to the Republican National Convention were allocated based on the primary results, the majority—39—of the state’s 55 delegates will be awarded as a result of caucusing on March 2.

The main event will be in Grand Rapids, where former Rep. Pete Hoekstra (R-Mich.) will oversee a convention at which party insiders will vote on how to divvy up the remaining delegates.

Yet, while Mr. Hoekstra has the backing of President Trump and the Republican National Committee (RNC), his accession to leader of the Michigan GOP has not been universally recognized by Republicans in the state.

Many in the party maintain that Kristina Karamo was improperly removed from her role as state GOP chairwoman. She’s staging her own convention in Detroit.

An ongoing lawsuit against Ms. Karamo could end the standoff before March 2. On election day itself, the judge in the case ruled that her ouster from the leadership role was legal.

Meanwhile, President Biden handily won the Democratic presidential primary in the state, garnering 78.6 percent of the vote.

But a campaign from Israel-Gaza ceasefire activists to get Democrats to select “uncommitted” from the ballot in that primary got some results. Sixteen percent of votes were for the “uncommitted” option, signaling dissension in Democratic ranks over the Middle Eastern conflict.

While Israel-Gaza is an electoral sore point for everywhere, it’s particularly sensitive in Michigan, which has large Arab Christian and Arab Muslim communities.

Former Rep. Justin Amash (L-Mich.), an Arab Christian and former Republican who has recently emerged as a critic of President Biden after supporting President Trump’s first impeachment while in office, recently mourned the death of his second cousin George as a result of an Israeli airstrike on the Church of Saint Porphyrius in Gaza.

Michiganders Back Trump

President Trump’s supporters in the state include Joe Bancroft, who was leaving a polling place at a library in Delta Charter Township when he spoke with The Epoch Times.

“He’s not a perfect person. Okay. And he is a strong person. And he’s rough around the edges. But here’s the thing. Who do you want to lead this country?” he said.

His wife, by contrast, voted for President Biden.

“Hell no,” she said when asked if she had voted for President Trump.

At an early voting site in Southgate, Michigan, downriver from Detroit, the Sikorskis—Douglas and his wife Sandy—formed a united front for President Trump.

“The RNC should be devoting all the funds to President Trump,” Mr. Sikorski told The Epoch Times on Feb. 25, the last day of early voting.

When asked if that priority could hinder important spending on other Republican races, the couple clarified that they felt the RNC could be trusted to use its resources more intelligently under new leadership—”Now that Ronna Romney [McDaniel]’s out,” Ms. Sikorski said.

Ms. Romney McDaniel announced her resignation as RNC chairwoman on Feb. 26, saying she would leave after Super Tuesday.

President Trump has endorsed Michael Whatley, chair of the North Carolina Republican Party, as Ms. Romney McDaniel’s replacement. He hopes to replace RNC co-chair Drew McKissick, who is also resigning, with his daughter-in-law Lara Trump.

Continue reading at the Epoch Times

END

Major Shot Across Biden’s Bow: 100,000+ Michigan Dems Vote “Uncommitted”

WEDNESDAY, FEB 28, 2024 – 11:05 AM

An initiative organized by dissident Democrats outraged over President Biden’s handling of the Israel-Gaza war has sent a powerful shot across the bow of his presidential campaign, as more than 100,000 Democrats voted “uncommitted” in the Michigan primary.

That’s more than 9 times former President Trump’s 10,704-vote victory margin in his 2016 defeat of Hillary Clinton, in a critical swing state that will be worth 15 electoral votes in the November general election. Critically, that 100,000-voter coalition turned out for a primary election where the conclusion was foregone. There are likely many more who share their sentiments but didn’t bother voting.

With more than 95% of votes counted, “uncommitted” accounted for a hefty 13.3% of the statewide total. Biden had 81.1%, while Marianne Williamson, who suspended her campaign three weeks ago, was edging the still-campaigning Rep. Dean Phillips 3.0% to 2.7%. Wayne County, home of Dearborn and its large Muslim population, saw 21% vote uncommitted with 75% of the count completed.

Michigan has one of the largest Muslim populations in America. Angered by Biden’s lop-sided support for Israel and failure to restrain an Israel Defense Forces campaign that has caused tens of thousands of civilian casualties — including a high proportion of children — leaders have promoted a nationwide campaign to “Abandon Biden.” An allied effort, under the moniker of “Listen to Michigan,” was championed by Michigan Rep. Rashida Tlaib.

Some Michigan Muslims are sufficiently angry that they’ve threatened to vote Republican in November. They realize the GOP is subservient to the State of Israel, but they credit Republicans for at least being honest about it. Where Biden is concerned, they feel betrayed and lied to, and want to punish him and like-minded Democrats.

In the run-up to the primary, Biden and his team gingerly yet clumsily attempted to mend relations with Michigan’s Muslims. Biden himself didn’t dare meet with them personally. Instead, Team Biden sent Jewish national security advisor Jon Finer for a closed-door meeting in which he told Arab-American political leaders, “We are very well aware that we have [made] missteps in the course of responding to this crisis since Oct. 7.” It clearly didn’t work.

Don’t think the uncommitted votes were only cast by Muslims. Progressive leftists and young voters factored in too. In Washtenaw County, home of the University of Michigan, 17% voted uncommitted.

The “uncommitted” movement didn’t just earn publicity and shake the Biden campaign. It’s also expected to result in Michigan actually sending one uncommitted delegate to the Democratic nominating convention. “Under Michigan’s Democratic primary rules, candidates can receive delegates by earning at least 15 percent of the vote in a specific congressional district,” reports the New York Times‘ Zach Johnk. That seems a certainty where Tlaib’s Michigan-12 district.

This could be the start of a rolling nightmare for the Biden-Harris campaign. While leftist media and party officials will spin the Michigan result in favor of Biden, it’s made a national splash and could ignite a trend that spreads to upcoming states, with Democrats seizing upon the tactic to voice not only disappointment with Biden’s approach to Israel and Gaza, but also to express their long-simmering general dissatisfaction with Biden. A Rasmussen poll released Monday found that 48% of Democrats backed the idea of the Democratic Party “finding another candidate to replace Joe Biden before the election in November.”

If Biden remains the candidate, the biggest general-election threat in Michigan isn’t that Muslims and college students will vote Red in November, but that they’ll simply stay home, or cast protest votes for candidates like the Green Party’s Jill Stein. Don’t expect them to vote for independent Robert F. Kennedy, Jr, who decisively repelled a once-promising block of Kennedy-curious progressives and libertarians with his over-the-top, pro-Israel rhetoric.

KING REPORT//

The King Report February 28, 2024 Issue 7189

Independent View of the News

Bidenomics reared its ugly head on Tuesday. There were significant downward revisions to Durable Goods and the Conference Board’s Consumer Confidence. In fact, Consumer Confidence suffered its 4^th consecutive downward revision. Why is this occurring? We all know why!
US Economic Data Released on TuesdayJan Durable Goods Orders -6.1%, -5.0% exp., prior revised to -0.3% from 0.0%Jan Durables Ex-Trans -0.3%, +0.2% exp., prior revised to -0.1% from +0.5%Jan Durables Nondef Ex-Air 0.1% as expected, prior revised to -0.6% from +0.2%Shipments 0.8%, 0.1% exp., prior revised to +0.1% from 0.0%Dec FHFA House Price Index 0.1% m/m, 0.3% exp., prior revised to 0.4% from 0.3%Dec S&P CoreLogic 20-city home prices 0.21% m/m, 0.2% exp., prior 0.24% from 0.15%Dec S&P CoreLogic 20-city home prices 6.13% y/y, 6.05% y/y exp., prior 5.41% from 5.4%Feb Conference Board Consumer Confidence 106.7, 115.0 exp., prior 110.9 from 114.8Feb Conf Board Present Situation 147.2, prior 154.9 from 161.3Feb Conf Board Expectations 79.8, prior 81.5 from 83.8Feb Richmond Fed Mfg. Index -5, -9 exp., prior -15Feb Richmond Fed Business Conditions -7, prior -3Feb Dallas Fed Services Activity -3.9, prior -9.3
Macy’s to close 150 stores by 2026, open new Bloomingdale’s, Bluemercury locations
Macy’s announced the firing of over 2,000 employees in January
     Macy’s will be down to 350 stores once all of the planned closures occur. In turn, the company will add roughly 45 Bloomingdale’s and Bluemercury locations…
https://www.foxbusiness.com/markets/macys-close-150-stores-2026-new-bloomingdales-bluemercury-locations

Leon Black Sells Apollo Global Stock ($172.8m) for the First Time Ever – BBG

As we postulated, Tuesday’s action was lackluster. ESHs traded sideways and mostly negative from the Nikkei opening until they broke higher near 4:00 ET. A plodding rally took ESHs to a daily high of 5090.00 at 7:46 ET. ESH then commenced a jagged decline that took ESHs to a daily low of 5067.00 at
12:57 ET. The afternoon rally then commenced. ESHs surged to 5091.75 at 15:58 ET.

We’ve noted this before, but we want to re-emphasize that after declines during early NYSE trading, a robust rally often materializes in the afternoon. We’ve also noted that trading patterns have become more inculcated because of the extensive use of computerized trading, which creates a self-reinforcing loop.

A huge reason for the afternoon rallies is the proliferation of 0DTE (Zero days to expiration) call options.
When retail and day traders poured into 0DTE calls, the option arbs that sell these options hedge their short call positions with other calls, futures, stocks, or ETFs (most SPY). When the afternoon rally exceeds certain thresholds, the option abs must buy an increasing number of hedges.

Positive aspects of previous session
Fangs rallied moderately
Another afternoon rally appeared

Negative aspects of previous session
Stocks declined again during morning NYSE trading
Bonds declined modestly
Oil and gasoline rallied sharply again

Ambiguous aspects of previous session
Was Monday and Tuesday’s languid action a respite or a prelude to a reversal?

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

Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5072.06
Previous session S&P 500 Index High/Low: 5080.69; 5057.29

BBG’s @markgurman: Apple cancels the Apple Car project after a decade-long, multi-billion effort to rival Tesla. Some employees shifting to Generative AI teams.

@charliekirk11: Speaker Mike Johnson tells reporters of his White House meeting on the $60 billion Ukraine funding supplemental: “It was frank and honest…then I had a one-on-one for a period of time with the president, just he and I in the Oval Office.”
    “My purpose was to express what I believe is the obvious truth, that we must take care of America’s need first. When you talk about America’s needs, you have to talk fist about our open border.”
    “The first priority of the country is our border, and making sure it’s secure. I believe the President can take executive authority right now to change that. And I told him that again today in person.”
https://twitter.com/charliekirk11/status/1762553209892262147

Biden, Schumer, and McConnell pressured Speaker Johnson to provide more aid to Ukraine, stating that the absence of even more beaucoup bucks for Ukraine would ensure its defeat. Schumer did his patented fake outrage routine for the MSM with even more histrionics than usual.

@ChadPergram: Schumer: If Ukraine gets the aid they will win. If they don’t get the aid, they will lose.

Schumer: “If we turn away from Ukraine, the American people and America will pay the price.”
https://twitter.com/theblaze/status/1762235426394255713

@PhilipWegmann: The CIA director was in the Oval Office today, per @PressSec, to brief POTUS, Majority Leader Schumer, and Speaker Johnson about “sobering” state of Ukraine’s defenses.

How come no politician is asking the germane question: ‘If the hundreds of billions to date for Ukraine have not repelled Russia, how much more will be needed to defeat Russia?’

Playing With Fire: Zelensky Questions Trump’s Patriotism in CNN Interview
“If Trump doesn’t know who he will support, Ukraine or Russia, he will have problems with his society. Supporting Russia means being against the Americans,” Zelensky boldly said in a new interview with CNN’s Kaitlan Collins… https://www.zerohedge.com/political/playing-fire-zelensky-questions-trumps-patriotism-cnn-interview

CIA, Ukraine Exchange Pre-Divorce Propaganda – A New York Times exposé outs years of unsavory details about the Ukraine’s relationship with the CIA, while a Ukrainian spy chief swats down U.S. messaging. Is a breakup at hand?
     Officials have long scolded the public that even minor disclosures of “sources and methods” could “risk lives” and must be prevented at all costs. Yet here comes the Times, helping “current and former officials in Ukraine, the United States and Europe” blab a long list of extraordinary details, down to the number of CIA-supported secret bases along the Russian border. An abridged list of revelations:..
https://www.racket.news/p/cia-ukraine-exchange-pre-divorce (Paywall)

@mtaibbi: When intelligence sources line up by the hundred to fill newspapers with “secret” details, they’re almost always doing one of two things: spreading disinformation, or “pre-bunking” embarrassing future revelations.

Today – The lackluster action that appeared on Monday and Tuesday is NOT likely to repeat on Wednesday. The GDP data, including what should be a totally bogus GDP Price Index, should provide enough grist for traders to ‘get something going.’

As we asked in the past two missives, ‘Was Monday and Tuesday’s languid action a respite or a prelude to a reversal?’  The usual suspects will engage in February performance gaming.  This could break stocks out of the narrow ranges of the past three sessions.

Expected Economic Data: Q4 GDP 3.3% q/q, Personal Consumption 2.7%, GDP Price Index 1.5% (total fraud), Core PCE 2.0%; Jan Advance Trade -$88.4B; Jan Retail Inventories 0.4% m/m, Wholesale Inventories 0.1% m/m; Atlanta Fed Pres Bostic 12:00 ET, Boston Fed Pres Collins 12:15 ET, NY Fed Pres Williams 12:45 ET

ESUs are -2.75; NQHs (Naz 100) are -17.00 and USHs are +8/32 at 20:10 ET.

S&P Index 50-day MA: 4864; 100-day MA: 4637; 150-day MA: 4572; 200-day MA: 4513
DJIA 50-day MA: 38,028; 100-day MA: 36,239; 150-day MA: 35,709, 200-day MA: 35,254
(Green is positive slope; Red is negative slope)

S&P 500 Index (5078.18 close) – Trender BBG trading model and MACD for key time frames
Monthly: Trender and MACD are positive – a close below 4314.46 triggers a sell signal
Weekly: Trender and MACD are positive – a close below 4805.35 triggers a sell signal
Daily: Trender and MACD are positive – a close below 4962.27 triggers a sell signal
Hourly: Trender and MACD are negative – a close above 5079.85 triggers a buy signal

@EndWokeness: Venezuela has its lowest homicide rate in 22 years because their gangs are coming here.  Read that again and let it sink in.  https://twitter.com/EndWokeness/status/1762540873940611498

Migrant suspect in Laken Riley murder accused of ‘seriously disfiguring’ nursing student as affidavit reveals grim details in case
https://nypost.com/2024/02/27/us-news/migrant-charged-with-laken-riley-murder-disfigured-her-skull-affidavit/

@elonmusk: The ability to discard your identification documents (from any country), walk across the southern border and claim “asylum” has turned America into a refuge for the world’s worst criminals!

House GOP subpoenas Biden interview by special counsel Robert Hur https://trib.al/VHvvEMK

@RNCResearch: REPORTER: “Can you give us a sense of when you think that ceasefire will start?”
BIDEN (confused): “Well I hope by the beginning of the weekend. I mean the end of the weekend. At least my national security advisor tells me that we’re close.” https://twitter.com/RNCResearch/status/1762251459763073464
    REPORTER: Netanyahu said he was “surprised” by Biden’s comments on the possibility of a ceasefire in Gaza “by Monday” — so why did Biden say that? JOHN KIRBY: I can’t speak to that.
https://twitter.com/RNCResearch/status/1762563088639750463

@RNCResearch: Biden — confused — ignores questions as his handlers herd the press out of the room.
https://twitter.com/RNCResearch/status/1762523336150536567

@bennyjohnson: Italian TV SAVAGES Joe Biden and his handlers AGAIN. This is better than SNL. The Democrat party has become the absolute laughing-stock of the world.
https://twitter.com/bennyjohnson/status/1762521492804227209

US Army cutting force by 24K amid recruiting shortfalls (Team Obama-Biden killing the US softly)
5% of Army jobs slashed are mainly in positions that are already empty
https://www.foxnews.com/us/us-army-cutting-force-24k-recruiting-shortfalls

Hunter Biden planned to build global hedge fund that included father, witness testifies
The plan focused on building global cooperation between prominent investors from all continents, including deals with high-powered oligarchs from Russia and Kazakhstan, Chinese government-linked businessmen, and politically connected Mexican tycoons, among others…
https://justthenews.com/accountability/political-ethics/hunter-biden-had-plans-build-global-hedge-fund-include-father

Schumer Waves China’s Flag after Its National Anthem Blares at Manhattan Parade
He and other top N.Y. Dems appeared with a diplomat linked to China’s secret police station in Manhattan.   https://www.nationalreview.com/2024/02/schumer-waves-chinas-flag-after-its-national-anthem-blares-at-manhattan-parade/

FBI Chooses Stock Image of Well-Dressed White-Women to Depict Organized Retail-Crime
https://modernity.news/2024/02/27/fbi-chooses-stock-image-of-well-dressed-white-women-to-depict-organized-retail-crime/

The FBI is getting roasted over its use of stock photos on posts talking about retail crime
The FBI wants us to know that there are a bunch of retail theft operations plaguing our country’s retail sector; they also want us to know that affluent white women are the kind of people who are committing the crimes… https://notthebee.com/article/why-did-the-fbi-use-these-stock-photos-to-illustrate-the-impacts-of-retail-theft

GREG HUNTER INTERVIEWING DAVID MORGAN

Entering a Global Great Depression – David Morgan

Entering a Global Great Depression – David Morgan

By Greg Hunter On February 27, 2024 In Market AnalysisNo Comments

By Greg Hunter’s USAWatchdog.com

Economic analyst and financial writer David Morgan has gone against the majority in the past with predictions that seemed unbelievable at the time. One prediction last year is the Fed not cutting interest rates in 2023. The Fed didn’t, and Morgan is still predicting there will be no Fed interest rate cut anytime soon. Now, with a record high stock market, Morgan is predicting “We are entering into a global depression the likes of which the world has never seen.” The warning signs are many as Morgan explains, “When we enter a depression, people cannot keep up with inflation. So, they work even harder or more hours to try to make ends meet.”

Another sign, says Morgan, is all the bankrupt businesses that thrive on disposable income such as “Gold’s Gym, Neman Marcus, Hertz, JC Penny, GNC, Pier One, Belk’s founded in 1888, Revlon, David’s Bridal and Bed, Bath and Beyond. That is just a few, and that is the real economy. What you see on that list of bankrupt stores primarily is disposable income. . . . That is a sure sign of a depression. . . . This is a clear, concise and accurate picture of the truth. You don’t have to tell this to the girl with three jobs. She knows what is going on.”

Other signs of a coming depression include “stress over money, and this is the number one thing people are stressing about today,” according to Morgan. In the age of money printing and unpayable debt, there is going to be an end, and the end, according to Morgan, has never been closer than today. Morgan points out, “Money is usually the root cause of stress. I have dedicated my work to inform everybody of what is coming and tell everybody what the difference is between money and a currency and what happens at the end of these great inflations. There is ‘nothing new under the sun.’ We have all been there and done that, but a great depression has never been global before. This is why the system is hinged on the viability of the US dollar, what supercedes it and what moves next.”

Morgan says other signs include, “increasing war . . . trade barriers, such as sanctions, transportation /supply chain problems such as sinking ships in the Red Sea, and a much lower standard of living.” So, these are signs of a global great depression? Morgan says, “Correct . . . If you survive the destruction of the old system, then you have the New World Order, which is pushing one world government, one global currency and, in time, one world religion. That’s the direction it is going . . . but there is a lot of push-back. I would not say we are losing, but I would not say we are winning either. I want to win, and I want freedom for everyone.”

Morgan says the dollar will hold together for now and predicts, “It will be the most trusted asset (behind gold and silver) until it blows up. The dollar will remain quite strong, but you will know we are getting near the end when gold will be increasing as the dollar is increasing. The dollar’s value looks strong, but gold is going to be going up at the same time.”

In closing, Morgan says, “I am sure the entire world is getting ready to dive into a global great depression, and that is the way I see it. . . The globalists are telling you ‘you will own nothing and you will be happy.’ They are warning you and letting you know the direction they plan on going.”

There is much more in the 46-minute interview.

Join Greg Hunter of USAWatchdog.com as he goes One on One with David Morgan, founder of “The Morgan Report,” and producer of the upcoming documentary film called “Silver Sunrise” for 2.27.24.

(To Donate to USAWatchdog.com Click Here)

After then Interview:

SEE YOU ON WEDNESDAY

SHANGHAI GOLD (USD) FUTURES – QUOTES

SHANGHAI GOLD (USD) FUTURES – QUOTES

GOLD: NUMBER OF NOTICES FILED FOR FEB/2024. CONTRACT: 796 NOTICES FOR 79,600 OZ or 2.4758 TONNES

total notices so far: 20,754 contracts for 2,075,400 Oz (64.552 tonnes)

FOR FEBRUARY:

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

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

German financial magazine interviews GATA secretary on gold price suppression

Fed chairman Powell refuses to answer congressman’s questions on gold repatriation

4. OTHER GOLD COMMENTARIES/PODCASTS/

Future Slide As Hawkish Fed Concerns Return

US equities lower, Dollar bid and Kiwi slumped post-RBNZ as attention turns to US GDP and Fed speak – Newsquawk US Market Open

EUROPEAN TRADE

EQUITIES

FX

FIXED INCOME

COMMODITIES

GEOPOLITICS

CRYPTO

APAC TRADE

Polish Truckers To Rejoin Farmers In Border Crossing Blockades

‘October 7, part two:’ Iran plans for terror during Ramadan, Israel charges

Defense Minister Gallant presses for more West Bank Palestinian workers, slams Ben-Gvir on Temple Mount.

Gallant calls for reducing tensions

Gazans burn tires in Rafah as they protest rising costs

Biden Moves To Attach Conditions On Israel Using US Weapons In Gaza

Hamas chief Haniyeh calls on Arabs to storm al-Aqsa on Ramadan

Hamas terror chief Ismail Haniyeh made a televised statement on Wednesday calling on barricades at al-Aqsa Mosque at the start of Ramadan and Hamas’s “flexible” stance on hostage negotiations.

Hostage negotiations

IDF chief warns Hezbollah to pay ‘very high price,’ as fresh barrage fired at north

Terror group claims to target base in Western Galilee, as Halevi visits area; dramatic footage shows moment rockets strikes highway, meters from motorists

‘He’s losing it’: Nasrallah’s swagger is gone as emotion takes over – analysis

Signs suggest Hezbollah leader Hassan Nasrallah is unraveling. Has emotion replaced rationality?

How has Nasrallah lost his confidence?

IDF strikes southern Lebanon after Hamas fires rockets into Israel’s north

The IDF targeted the sources of the launch.

IDF strikes Hezbollah targets

US military says it shot down Houthi drones that posed ‘imminent threat’ to ships in Red Sea

NATO’s Debate Over Direct Military Intervention In Ukraine Shows Its Desperation

Slovakia Warns ‘Bilateral Agreements’ Could See Individual NATO States Send Troops To Ukraine

Yellen Wants Frozen Russian Bank Funds To Be Given To Ukraine

Breakaway Transnistria Asks Russia For ‘Protection’ – Setting Stage For Military Intervention

Pfizer and Moderna COVID Vaccines’ Efficacy Exaggerated, Effectiveness ‘Well Below’ 50 Percent, Researchers Say | The Epoch Times

UK: Fergie’s “new diagnosis of skin cancer”; Kate Middleton’s surgery “obviously major”; Trisha Goddard’s breast cancer returns; Amy Dowden rushed to hospital; Moira Stuart collapses at a party

“Birmingham manager Tony Mowbray to take time off for medical treatment”; footballer Will Wise has Stage 4 thyroid cancer; Crystal Palace manager Roy Hodgson rushed to hospital; & more

UNITED KINGDOM

Sarah Ferguson issues emotional plea in heartbreaking update

Kate Middleton’s Abdominal Surgery Was ‘Obviously Major,’ Expert Claims

Trisha Goddard, 66, reveals her breast cancer has returned and is incurable as she speaks out to free herself from the ‘burden’ of keeping illness a secret

Strictly’s Amy Dowden unexpectedly rushed to hospital amid ongoing cancer treatment

TV News Anchor Moira Stuart Reportedly Falls Ill, Collapses at Angela Rippon’s Party

Birmingham manager Tony Mowbray to take time off for medical treatment

‘I thought I had overdone it during my workout – now I’m fighting stage-four cancer’: Agony of ex-pro basketballer, 30, who felt ‘invincible’ before morning commute changed his life

Crystal Palace players left ‘distressed’ after manager Roy Hodgson, 76, was rushed to hospital after falling ill during training while he was facing the sack… as club confirm he’ll miss Everton match

Rugby player’s diagnosis leads to stem cell appeal

Dad who ‘always knew’ he’d get cancer diagnosed after brother’s health scare

Dr. JJ Couey tells this Canadian audience how much of a fraud COVID non-pandemic was! A complete fraud! A fake NON-pandemic; go from MINUTE 24

MINUTE 24 onwards

50 to 80 years….yes come back in 50 to 80 years with this mRNA technology crap, for today, it is deadly & does not work & mass indiscriminate mRNA vaccination was a catastrophe, killed massive

numbers, so get to hell away from us Bourla, Bancel, Weissman et al., get away Malone, get your grifting tails into lab and spend 80 years & bring us proper safety testing with dish, animal research

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

Stocks Slip As Crypto Rips & Dips On Record ETF Volumes

US GDP “Grew” $334 Billion In Q4…. That Growth Cost $834 Billion In Debt

“A Bold New Chapter”: Macy’s To Close 150 Stores, Focus On Luxury Consumer With Bloomingdale’s

Trump Scores 6th Straight Primary Win With Triumph Over Haley In Michigan

Michiganders Back Trump

Major Shot Across Biden’s Bow: 100,000+ Michigan Dems Vote “Uncommitted”

Entering a Global Great Depression – David Morgan

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