GOLD PRICE CLOSED UP $40.50 TO $2086.40
SILVER PRICE UP $.49 TO $23.17
Gold ACCESS CLOSED 2083.70
Silver ACCESS CLOSED: 23.13
Bitcoin morning price:$62,152 UP 998 DOLLARS.
Bitcoin: afternoon price: $62,543 UP 1388 dollars
Platinum price closing UP $4.20 AT $886.35
Palladium price; UP $11.05 AT $955.15
END
SHANGHAI GOLD PREMIUM 32 DOLLARS/COMEX GOLD
SHANGHAI GOLD (USD) FUTURES – QUOTES
Beginning Monday, April 1, 2024, CME Group settlement data will no longer be accessible through ftp.cmegroup.com and will have a delayed publication time of 12:00 a.m. CT on all cmegroup.com web pages. Learn about alternate ways to access the data in our FAQ.
Last Updated 01 Mar 2024 09:26:45 AM CT.
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SHANGHAI GOLD (USD) FUTURES – QUOTES
I will now provide gold in Canadian dollars, British pounds and Euros
4: 15 PM ACCESS
*CANADIAN GOLD: $2,824.92 UP $49.17 CDN dollars per oz( * NEW ALL TIME HIGH 2,824.92CDN DOLLARS PER OZ//MARCH 1 2023)
*BRITISH GOLD: 1646,16 UP 27.26 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17 BRITISH POUNDS/OZ) OCT 2/2023
*EURO GOLD: 1923,03 UP 31.19 euros per oz //* (ALL TIME CLOSING HIGH: 1923.03 EUROS PER OZ//MARCH 1.2023)
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EXCHANGE: COMEX
ACCESS MARKET:
EXCHANGE: COMEX
CONTRACT: MARCH 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,045.700000000 USD
INTENT DATE: 02/29/2024 DELIVERY DATE: 03/04/2024
FIRM ORG FIRM NAME ISSUED STOPPED
092 C DEUTSCHE BANK 1
190 H BMO CAPITAL 10
323 C HSBC 4
363 H WELLS FARGO SEC 9
435 H SCOTIA CAPITAL 3
661 C JP MORGAN 9
690 C ABN AMRO 7
737 C ADVANTAGE 31 2
TOTAL: 38 38
JPMorgan stopped 9/38 contracts.
FOR FEB/2024
GOLD: NUMBER OF NOTICES FILED FOR MAR/2024. CONTRACT: 38 NOTICES FOR 3800 OZ or 0.1182 TONNES
total notices so far: 1185 contracts for 118500 Oz (3.685 tonnes)
FOR MARCH:
SILVER NOTICES: 89 NOTICE(S) FILED FOR 445,000 OZ/
total number of notices filed so far this month : 2947 for 14,735,000 oz
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END
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
GLD
WITH GOLD UP $40.50//
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : NO CHANGES IN GOLD INVENTORY AT THE GLD:
INVENTORY RESTS AT 822.91 TONNES
SLV//
WITH NO SILVER AROUND AND SILVER UP 49 CENTS AT THE SLV//
NO CHANGES IN SILVER INVENTORY AT THE SLV:
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 430.982 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A HUMONGOUS SIZED 3659 CONTRACTS TO 142,561 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 $0.25 IN SILVER PRICING AT THE COMEX ON THURSDAY. WE HAD ZERO LONG LIQUIDATION AT THE COMEX SESSION WITH AGAIN SOME SHORT COVERING DESPITE THE PRICE OF SILVER RISING BY A CONSIDERABLE AMOUNT. WE HAD A STRONG 666 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 THURSDAY NIGHT: 666 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 $0.25),AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS DESPITE WE HAD A MEGA HUMONGOUS SIZED LOSS OF 3454 CONTRACTS ON OUR TWO EXCHANGES, IT OCCURRED WITH A MUCH HIGHER PRICE.
WE MUST HAVE HAD:
A SMALL SIZED 200 ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 22.270 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY,S 480,000 OZ E.F.P. JUMP TO LONDON//NEW TOTALS : 21.790 MILLLION OZ
//NEW STANDING FOR SILVER IS THUS 21.790 MILLION OZ
/ HUGE SIZED COMEX OI LOSS/STRONG SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 666 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED A HUGE 497 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 1 days, total 200 contracts: OR 1.00 MILLION OZ (200 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 1.0 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 : 66.135 MILLION OZ./FINAL
MARCH: 1.0 MILLION OZ//
RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 3654 CONTRACTS DESPITE OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//THURSDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL EFP ISSUANCE CONTRACTS: 200 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 MARCH. OF 22.270 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 480,000 OZ E.F.P. JUMP TO LONDON/
//NEW TOTAL STANDING LOWERS TO 21.790 MILLION OZ
WE HAVE A MEGA HUMONGOUS LOSS OF 3454 OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE STRONG GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A STRONG SIZED 666 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS ( WITH PRICE OF SILVER RISING) . THE NEW TAS ISSUANCE THURSDAY NIGHT (666) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .
WE HAD 89 NOTICE(S) FILED TODAY FOR .445 MILLION 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 HUGE SIZED 12,393 CONTRACTS TO 424,082 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: removed 134 CONTRACTS
WE HAD A HUGE SIZED INCREASE IN COMEX OI ( 12,527 CONTRACTS) WITH OUR $12.60 GAIN IN PRICE//THURSDAY. WE ALSO HAD A RATHER LARGE INITIAL STANDING IN GOLD TONNAGE FOR MARCH. AT 10.270 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’;S SMALL 200 OZ QUEUE JUMP
NEW TOTAL Of INITIAL GOLD STANDING TO: 10.363 TONNES // ALL OF THIS HAPPENED WITH OUR $12.60 GAIN IN PRICE WITH RESPECT TO THURSDAY’S TRADING. WE HAD A HUMONGOUS SIZED GAIN OF 16,903 OI CONTRACTS (52.57) PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 4510 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 424,082
IN ESSENCE WE HAVE A HUMONGOUS SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 16,903 CONTRACTS WITH 12,393 CONTRACTS INCREASED AT THE COMEX// AND A STRONG SIZED 4510 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 16,903 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): GOOD SIZED 3158 CONTRACTS.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4510 CONTRACTS) ACCOMPANYING THE HUGE SIZED GAIN IN COMEX OI (12,393) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 16,903 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 MARCH. AT 10.270 TONNES
/ 3) ZERO LONG LIQUIDATION // 4) HUGE SIZED COMEX OPEN INTEREST GAIN/ 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: STRONG T.A.S. ISSUANCE: 3158 CONTRACTS//CONSIDERABLE SHORT COVERING AGAIN
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY
MARCH
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH. :
TOTAL EFP CONTRACTS ISSUED: 4510 CONTRACTS OR 451,000 OZ OR 14.027 TONNES IN 1 TRADING DAY(S) AND THUS AVERAGING: 4510 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 1 TRADING DAY(S) IN TONNES 14.027 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 14.027/3550 x 100% TONNES 0.399% 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: 201.947 TONNES (SHOULD BE A WEAKER ISSUANCE MONTH)
MARCH 2024: 14.027 TONNES
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 3654 CONTRACTS OI TO 143,358 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 200 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MAY 600 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 200 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 3157 CONTRACTS AND ADD TO THE 200 OI TRANSFERRED TO LONDON THROUGH EFP’S,
WE OBTAIN A HUMONGOUS SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 3454 CONTRACTS
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTAL 17.270 MILLION OZ
OCCURRED DESPITE OUR $.25 GAIN IN PRICE …..
END
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES
(Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED UP 11.85 PTS OR 0.39% //Hang Seng CLOSED UP 78.00 PTS OR 0.47% / Nikkei CLOSED UP 744.63 PTS OR 1.90%//Australia’s all ordinaries CLOSED UP 0.60% /Chinese yuan (ONSHORE) closed DOWN 7.1985 //OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2130 /Oil UP TO 79.53 dollars per barrel for WTI and BRENT UP AT 83.09/ Stocks in Europe OPENED ALL GREEN// 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 HUGE SIZED 12,393 CONTRACTS TO 424,082 WITH OUR GAIN IN PRICE OF $12.60 WITH RESPECT TO THURSDAY TRADING. ACCORDING TO OUR EXPERT ANDREW MAGUIRE, THE LOW COMEX GOLD OI WE HAVE BEEN EXPERIENCING THESE PAST TWO MONTHS 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. TODAY WE HAD NEWBIE SPECULATORS JOIN IN ON THE LONG SIDE OF GOLD.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF MARCH..… THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS 4510 EFP CONTRACTS WERE ISSUED: : APRIL 4510 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 4510 CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A HUMONGOUS SIZED TOTAL OF 16,903 CONTRACTS IN THAT 4510 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A HUGE SIZED GAIN OF 12,393 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $12.60 THURSDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR THURSDAY NIGHT WAS A GOOD SIZED 3158 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: MARCH (10.363 TONNES) ( NON ACTIVE MONTH)
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 24 MONTHS OF 2021-2023:
DEC 2021: 112.217 TONNES
NOV. 8.074 TONNES
OCT. 57.707 TONNES
SEPT: 11.9160 TONNES
AUGUST: 80.489 TONNES
JULY: 7.2814 TONNES
JUNE: 72.289 TONNES
MAY 5.77 TONNES
APRIL 95.331 TONNES
MARCH 30.205 TONNES
FEB ’21. 113.424 TONNES
JAN ’21: 6.500 TONNES.
TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES
YEAR 2022:
JANUARY 2022 17.79 TONNES
FEB 2022: 59.023 TONNES
MARCH: 36.678 TONNES
APRIL: 85.340 TONNES FINAL.
MAY: 20.11 TONNES FINAL
JUNE: 74.933 TONNES FINAL
JULY 29.987 TONNES FINAL
AUGUST:104.979 TONNES//FINAL
SEPT. 38.1158 TONNES
OCT: 77.390 TONNES/ FINAL
NOV 27.110 TONNES/FINAL
Dec. 64.000 tonnes
(TOTAL YEAR 656.076 TONNES)
2023:
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK = 34.9627 TONNES
DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707TONNES
TOTAL 2023 YEAR : 436.546 TONNES
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 10.363 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT GAINED $12.60 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A HUMONGOUS SIZED GAIN OF 16,903 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 THURSDAY’S TRADING . THE T.A.S. ISSUED ON THURSDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS.
WE HAVE GAINED A TOTAL OI OF 52.57 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR MARCH. (10.3576 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S SMALL 200 OZ QUEUE JUMP//NEW STANDING 10.363 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $12.60
WE HAD -REMOVED 134 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)
NET GAIN ON THE TWO EXCHANGES 16,903 CONTRACTS OR 1,690300 OZ OR 52.57 TONNES.
estimated volume today 354,337 huge
final gold volumes/yesterday 239,834 fair
//speculators have left the gold arena
MARCH 1/ INITIAL MARCH GOLD
/ /// THE MARCH 2024 GOLD CONTRACT
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 24,834.590 oz JPMORGAN LOOMIS MANFRA INCLUDES 102 kilobars//LOOMIS . |
| Deposit to the Dealer Inventory in oz | nil oz |
| Deposits to the Customer Inventory, in oz | 89,315.478 oz Loomis |
| No of oz served (contracts) today | 38 notice(s) 3800 OZ 0.1182 TONNES |
| No of oz to be served (notices) | 2147 contracts 214700 oz 6.678. TONNES |
| Total monthly oz gold served (contracts) so far this month | 1185 notices 118500 oz 3.685 TONNES |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month | x |
0 dealer deposits:
total dealer deposits: nil oz
total customer withdrawals: 3
i) Out of JPMorgan: 782.551 oz
ii) Out of Loomis: 3279.402 oz (102 kilobars)
iii) Out of Manfra 20,722.637 oz
total withdrawal: 24,834.570 oz
we had 0 customer deposit
total deposit nil
Adjustments:
0
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR FEB.
For the front month of MARCH we have an oi of 2185 contracts having LOST 1145 contracts. We had 1147 contracts filed upon yesterday, so we gained 2 contracts or an additional 200 oz of gold will stand at the comex in this non active delivery month of March.
APRIL GAINED 7844 CONTRACTS RISING TO 324,203.
MAY EARNED ITS FIRST 4 CONTRACTS TO STAND AT 4
JUNE INCREASED ITS OI BY 5374 CONTRACTS UP TO 50,641 CONTRACTS.
We had 38 contracts filed for today representing 3800 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 38 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 9 notice(s) was (were) stopped ( (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for the MARCH. /2024. contract month, we take the total number of notices filed so far for the month (1185 x 100 oz ), to which we add the difference between the open interest for the front month of MARCH. (2185 CONTRACTS) minus the number of notices served upon today 38 x 100 oz per contract equals 333,200 OZ OR 10.363 TONNES
thus the INITIAL standings for gold for the MARCH. contract month: No of notices filed so far (1185) x 100 oz + (2185) {OI for the front month} minus the number of notices served upon today (38) x 100 oz which equals 333,200 oz (10.363 TONNES)
TOTAL COMEX GOLD STANDING FOR MARCH: 10.363 TONNES WHICH IS HUGE FOR A NON 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: 18,225,515.694 OZ
TOTAL REGISTERED GOLD 8,088,671.657 (251.59 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 10,136,844.077 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
MARCH 1/INITIAL
//2024// THE MARCH 2024 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 104,486.060 oz Brinks loomis . |
| Deposits to the Dealer Inventory | nil OZ |
| Deposits to the Customer Inventory | 108,420.460 oz CNT |
| No of oz served today (contracts) | 89 CONTRACT(S) (445,000 OZ) |
| No of oz to be served (notices) | 1411 contracts (7.055 MILLION oz) |
| Total monthly oz silver served (contracts) | 2947 Contracts (14.735 MILLION 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 1 deposits customer account:
i) Into CNT 108,420.460 oz
total customer deposits 108,420.460 oz
JPMorgan has a total silver weight: 129.806 million oz/282.130 million or 46.26%
adjustment: 0
Comex withdrawals: i) CNT: 108,420.460 oz
total withdrawal: 108,402.406 oz
TOTAL REGISTERED SILVER: 51.293MILLION OZ//.TOTAL REG + ELIGIBLE. 282.130 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:
silver open interest data:
FRONT MONTH OF MARCH /2023 OI: 1500 CONTRACTS HAVING LOST 2954 CONTRACT(S).
WE HAD 2858 NOTICES FILED YESTERDAY SO STRANGELY WE LOST 96 CONTRACTS OR AN ADDITIONAL 480,000 OZ WILL NOT STAND AT THE COMEX AS THEY WERE IMMEDIATELY FERRIED OVER TO LONDON TRYING TO TAKE DELIVERY OVER THERE.
APRIL SAW A LOSS OF 77 CONTRACTS TO STAND AT 835
MAY SAW A LOSS OF 1108 CONTRACTS UP TO 116,090.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 89 for 0.445 MILLION oz
Comex volumes// est. volume today 68,047 poor
Comex volume: confirmed yesterday 59,402 poor
To calculate the number of silver ounces that will stand for delivery in MARCH. we take the total number of notices filed for the month so far at 2947 x 5,000 oz = 14,735,000 oz
to which we add the difference between the open interest for the front month of MARCH. (1500) and the number of notices served upon today 89 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the MARCH/2024 contract month: 2947 (notices served so far) x 5000 oz + OI for the front month of MARCH. (1500) – number of notices served upon today (89 )x 500 oz of silver standing for the MARCH contract month equates to 21.790 MILLION OZ.
New total standing: 21.790 million oz.
There are 51.293 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!
MARCH 1 WITH GOLD UP $40.40 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 822.91 TONNES
FEB29/WITH GOLD UP $12.60 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD//WITHDRAWAL OF 4.03 TONNES INVENTORY RESTS AT 822.91 TONNES
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: 822.91 TONNES
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
MARCH 1/WITH SILVER UP 49 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: // : SLV INVENTORY RESTS AT 430.982 MILLION OZ
FEB 29/WITH SILVER UP 25 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.104 MILLION OZ OUT OF THE SLV//// : SLV INVENTORY RESTS AT 430/982 MILLION OZ
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 430.982 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1:Peter Schiff/Mike Maharrey
Inflation’s Impact: The Penny’s Plunge Into Irrelevance
FRIDAY, MAR 01, 2024 – 06:30 AM
It’s no surprise to readers of this site that metals are often worth more than fiat currency. Gold, silver, and other precious metals are known for their value. But sometimes fiat currency can’t even compete with zinc.
The US penny, which is primarily made of zinc, costs roughly three cents to produce and is only worth one cent according to the federal government. This is the opposite of what has happened historically. Generally, governments produce currency that is worth far more than the cost of producing it. Imagine printing a one hundred dollar bill which costs far less than a hundred dollars in materials and printing costs. The profit from this is called seigniorage. With pennies, the US government is practicing reverse seigniorage.
This loss of money from producing pennies is one of the arguments for abolishing the US penny. There are other arguments against the penny such as the claim that it’s worth so little compared to the typical American wage that it makes no sense to denominate prices in pennies, would anyone argue that the United States needs a coin worth half a penny?
In fact, the United States used to have a half-cent coin which was abolished in 1857 for being worth too little. A half-cent in 1857 would be worth approximately 18 cents today. That of course is more valuable than not only the penny but the nickel and dime as well.
Of course, there are arguments in favor of retaining the penny. Perhaps the penny is worthwhile as it supports the zinc mining industry and its American employees. Perhaps we should be suspicious of moves by the government to phase out the penny as it might be the first step towards a cashless economy. Or perhaps ditching the penny would cause businesses to round prices up, hurting consumers.
Arguably more interesting than the debate about whether the penny should exist, is considering the political and cultural implications of abolishing the penny.
What would it say if the US government scrapped the penny now? What would it say if it followed the past practice of abolishing the half-cent coin and scrapped the nickel and the dime as well?
It would be an admission by the government that its monetary policies and the Federal Reserve have so devalued currency, that the majority of coins created by the federal government are worth so little they might as well not exist!
The rampant inflation since the start of the Biden inflation is so extreme that it’s impossible to ignore the toll it has inflicted on the American people. But many years when inflation is lower, it’s harder to notice. Coins are part of American culture from slot machines dishing out coins to elementary school students learning to add and subtract with pennies, nickels, and quarters.
When stores stop accepting coins, when banks stop stocking coin rolls, or when the federal government throws in the towel of pennies, will more Americans realize that the rest of fiat currency is following the same path of constant devaluation? People would only have to look through their spare change, their couches, and their pockets to get a visceral reminder of the reality of inflation.
end
2.Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens/ SIMON WHITE..
Low Volatility In Gold Is Calm Before Inflation Storm
FRIDAY, MAR 01, 2024 – 07:20 AM
Authored by Simon White, Bloomberg macro strategist,
Inflation is back on the radar this week after yesterday’s release of PCE in the US. It showed a modest fall from the prior month in the headline print (but under the surface the picture was more worrying), lending credence to the bigger picture signal of inflation pressures building again. Emblematic of how unpriced assets are for this likelihood, volatility in gold and silver and other metals is near decade lows.
Given how recently inflation was at generational highs, it is remarkable how complacent the market has become that the inflation problem is over. Normally after an inflation shock, there is a risk premium built into prices that persists for many years. It took a long time, and the brutal rate rises of Paul Volcker followed by the delphic utterances of Alan Greenspan, to finally convince the market to bring term premium back to the pre-Great Inflation levels of the 1960s.
Today, the fixing-swaps market foresees that CPI will return towards 2% CPI by the second half of this year. There is no risk premium for inflation built into yields, and money markets have a significant bias towards expecting lower not higher rates.
On top of that, commodity volatility is becalmed. Commodities and other real assets have historically performed well in in inflation regimes, with their volatility rising too. But implied vol in several commodities, especially metals and notably gold and silver, is preternaturally low.
This is not reflective of a market expecting a return of inflation, or indeed pricing much probability of it happening at all. No asset class, in fact, looks ready for an inflation redux.
One of the biggest drivers of US disinflation over the last two years has not been domestic monetary policy, but deflation in China. Yet, very slowly, leading indicators of activity and inflation are beginning to pick up in China as layers of fiscal and monetary stimulus start to bite.
A sign that China will soon be contributing positively to global and US price pressures again — and cause a repricing in markets — can be seen in the nascent rise in real narrow money (M1) growth, which has led gold volatility in recent years.
END
3. CHRIS POWELL//GATA GOLD COMMENTARIES: daily Dispatches
CHRIS POWELL…
The questions CFTC and Fed won’t answer expose gold price suppression policy
Submitted by admin on Wed, 2024-02-28 21:24 Section: Daily Dispatches
9:44p ET Wednesday, February 28, 2024
Dear Friend of GATA and Gold:
If mainstream financial news organizations ever work up the courage to report honestly about monetary gold, the commanding heights of the issue will have been mapped out for them by U.S. Rep. Alex X. Mooney, R-West Virginia.
After all, where can investigative journalism start better than with questions that already have been shown to be too politically sensitive for the highest government officials to answer, even when a member of Congress is asking?
Thanks to Mooney, in 2020 the U.S. Commodity Futures Trading Commission was shown refusing to answer whether it has jurisdiction over manipulative trading in the commodity futures markets when such trading is undertaken by or at the behest of the U.S. government:
https://www.gata.org/node/19917
And now, also thanks to Mooney, Federal Reserve Chairman Jerome Powell has been shown refusing to answer questions about the repatriation of gold vaulted by other nations at the Federal Reserve Bank of New York, repatriation being something that would signify foreign loss of faith in the Fed, the U.S. government, and the dollar.
In December Mooney wrote to Powell to ask:
“Has the Federal Reserve or the Federal Reserve Bank of New York repatriated any gold to foreign nations this year? If so, to which countries and how much?
And:
“How much gold is the Federal Reserve vaulting for foreign nations now and how does this compare to the amount vaulted at the end of 2022?”
Mooney’s letter to Powell is posted here:
Powell replied to Mooney last week without even acknowledging the congressman’s questions:
“Thank you for your letter of December 14, 2023, regarding the gold market. The Federal Reserve Bank of New York provides gold custody on behalf of certain official-sector account holders, which include the U.S. government, foreign governments, other central banks, and official international organizations. The Federal Reserve Bank of New York does not own any of the gold it holds as custodian, and no other part of the Federal Reserve System owns gold.”
The Fed chairman’s reply to Mooney is here:
In not even acknowledging Mooney’s questions, Powell was arrogant and insolent, especially insofar as the Federal Reserve in previous years has disclosed the tonnage of custodial gold vaulted at the New York Fed and the number of countries vaulting gold there. Indeed, even now the New York Fed’s internet site claims that it is vaulting 6,331 tonnes of gold for foreign nations:
https://www.newyorkfed.org/aboutthefed/goldvault.html
Is that data no longer accurate? The Fed chairman’s refusal to acknowledge the congressman’s questions suggests as much.
But Powell’s refusal to acknowledge Mooney’s questions also demonstrated absolute confidence that his arrogance and insolence would never be noted and challenged by mainstream financial news organizations, which seem to understand the Fed’s position that gold price suppression is crucial to maintenance of the dollar as the world reserve currency, that it is the foremost weapon of U.S. imperialism and economic exploitation of the rest of the world, and thus is “the elephant in the room” — something that must never be discussed.
In turn the cowardice or collaboration of mainstream financial news organizations, their refusal to press critical questions to central banks, is central banking’s greatest advantage — an advantage greater even than central banking’s power to create and allocate infinite money.
Mooney’s latest exposure of the Federal Reserve’s unaccountability has been added to GATA’s extensive file of documentation of gold price suppression policy —
https://www.gata.org/taxonomy/term/21
— whose history is summarized (if at length) here:
https://www.gata.org/node/20925
If you know any financial journalists with integrity and courage, please forward this dispatch to them as an invitation to start trying to do their job of speaking truth to power instead of being afraid of power.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
* * *
4. OTHER GOLD COMMENTARIES/PODCASTS/LIVE FROM THE VAULT: LYNETTE ZANG NO 162
https://kinesis.money/live-from-the-vault/sound-money-outside-system/
Episode 162
Posted 1st March 2024
Sound money outside of the system Feat. Lynette Zang
In this week’s episode of Live from the Vault, Andrew Maguire is joined for the first time by renowned US-based banker, stockbroker, and economist Lynette Zang to talk about the growing sound money movement and ways to preserve wealth.
Lynette takes listeners through an American perspective on the failing dollar and recent developments in certain states, before offering a message of hope: people are waking up to the manipulation of the mainstream media.
END
5 a. IMPORTANT COMMENTARIES ON COMMODITIES /NICKEL
Seismic Shift: Indonesia Floods Market With Cheap Nickel, Sparking Wave Of Unprofitable Mines
THURSDAY, FEB 29, 2024 – 07:25 PM
The global nickel industry is experiencing a seismic shift as Indonesia emerges as a major low-cost supplier, contributing to a collapse in prices of the metal used in everything from making stainless steel to high-grade batteries.
Nickel is trading at just above $17,400 a ton, according to the London Metal Exchange, down from $48,800 a ton in early 2022.
Miners are writing down their businesses and closing mines due to a massive drop in income. At least six projects were closed in Australia last year as Indonesia flooded the world with cheap nickel. Bloomberg notes the supply of cheap nickel could mean upwards of at least half the world’s mines could become unprofitable.
Christel Bories, the head of Eramet, told the Financial Times that Indonesia has the world’s largest nickel reserves and could soon account for 75% of all high-grade nickel production by the end of the decade.
“It has really made a big part of the old traditional players structurally non-competitive for the future,” Bories said, adding, “This is part of the industry will either disappear or be subsidized by governments.”
She continued: “The uncompetitive mines elsewhere will close. I’m not sure there will be so many governments deciding to subsidize big production with a lot of money just to compete with Indonesia production.”
Bories’ gloomy prediction for the oversupplied nickel markets is similar to other mining CEOs, like BHP chief executive Mike Henry, who recently warned that its flagship nickel business in Australia could close in the next few months. He said help from the government “may not be enough” to save the company’s nickel operation in the western part of the country.
Two weeks ago, BHP wrote down the entire value of its Western Australian nickel mining operation. The firm reported a shocking 86% year-on-year plunge in net income for the second half of 2023.
Bloomberg pointed out that Indonesia’s move to flood the world with cheap nickel will keep markets oversupplied through the decade’s end.
“There is a serious structural challenge as a result of Indonesian nickel,” said Duncan Wanblad, chief executive officer of Anglo American Plc. The miner was forced to take a $500 million writedown on its nickel business last week.
Wanblad added: “They don’t seem to be letting up anytime soon.”
The imploding nickel market is great news for electric vehicle companies, who were once battered by skyrocketing battery material costs during Covid.
END
COCOA
Cocoa Panic? World’s Largest Chocolatier Plans 19% Workforce Cut As Prices Hit Record Highs
FRIDAY, MAR 01, 2024 – 04:15 AM
The world’s largest maker of bulk chocolate is planning to cut about 19% of its workforce, totaling 2,500 jobs, as part of a cost-reduction strategy in response to a worsening cocoa shortage in West Africa, which has driven prices to record highs.
“It’s about reducing complexity and eliminating duplication and inefficient structures,” Swiss chocolate maker Barry Callebaut CEO Peter Feld said in an interview with German newspaper Handelsblatt on Monday.
Feld continued: “It’s about reducing complexity and eliminating duplication and inefficient structures.”
Handelsblatt said the job cuts will be implemented across Barry Callebaut’s operations worldwide over the coming 18 months.
The move signifies Barry Callebaut is likely preparing for future demand woes as cocoa output in top grower Ivory Coast collapses, sending prices in London to record highs.
According to trader Ecom Agroindustrial Corp., Ivory Coast’s cocoa output is expected to plunge by as much as 20% this growing season.
In a report viewed by Bloomberg, Ecom Agroindustrial forecasts 1.75 million tons of cocoa from the region in the season that ends in September. Based on International Cocoa Organization data, that would be the lowest total in eight years.
Cocoa’s price surge has been absolutely stunning to spectate over the last 15 months. Futures have soared to record highs, overtaking the highs last seen in 1977. Citigroup has warned prices could hit as high as $10,000 a ton.
And the chocolate maker US Hershey Company warned in recent weeks: “Historic cocoa prices are expected to limit earnings growth this year.”
It’s only a matter of time before consumers are battered by candy inflation. Who will Biden’s PR team blame for soaring candy prices?
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT
END
6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN 7.1985
OFFSHORE YUAN: UP TO 7.2130
SHANGHAI CLOSED UP 11.85 PPTS OR 0.39%
HANG SENG CLOSED UP 78.00 PTS OR 1.47%
2. Nikkei closed UP 744.63 PTS OR 1.90%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX UP TO 103.98 EURO RISES TO 1.0824 UP 18 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +.710 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 150.45/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 UP /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 DOWN TO +2.4395***/Italian 10 Yr bond yield DOWN to 3.899* /SPAIN 10 YR BOND YIELD DOWN TO 3.332…**
3i Greek 10 year bond yield DOWN TO 3.382
3j Gold at $2053.20 silver at: 22.70 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 25 /100 roubles/dollar; ROUBLE AT 91.29//
3m oil into the 79 dollar handle for WTI and 83 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 150.44// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.710% 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 0.8831 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9581 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: 4.239 DOWN 1 BASIS PTS…
USA 30 YR BOND YIELD: 4.369 DOWN 0 BASIS PTS/
USA 2 YR BOND YIELD: 4.600 DOWN 5 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 31.34…(TURKEY SET TO BLOW UP FINANCIALLY)
GREAT BRITAIN/10 YEAR YIELD: DOWN 10 BASIS PTS AT 4.186
end
2.a Overnight: Newsquawk and Zero hedge
Futures Flat As Rally Fades, CRE Stress Returns
FRIDAY, MAR 01, 2024 – 08:30 AM
US stock futures briefly fell to a session low – then quickly recovered – as Apple slumped in premarket trading after Goldman removed the company from its conviction buy list (but retained a buy rating). As of 8:00am, S&P and Nasdaq futures traded flat and European stocks retreated from their highs as the relief rally which sent US stocks to an all time high on Thursday encouraged by an in-line reading on core PCE faded, while New York Community Bancorp plunged more than 30% in Friday’s premarket after identifying “material weaknesses” in how it tracks loan risks. Europe’s Stoxx 600 gained 0.5%, reversing an earlier dip, after Euro area inflation printed hotter than expected. Treasury yields are lower, the dollar is flat, and bitcoin is higher and back over $62,000. Today, focus will be the ISM-Mfg report at 10am ET (exp. 49.5 survey vs. 49.1 prior). Keep an eye on ISM-Mfg Prices Paid: consensus sees prices to grow again: 53.2 vs. 52.9
In premarket trading, NYCB tumbled as much as 30% after the troubled commercial real estate lender said it discovered “material weaknesses” in how it tracks loan risks, wrote down the value of companies acquired years ago and replaced its CEO to grapple with the turmoil. Dell Technologies soared 21% after its results beat expectations, boosted by the buzz around artificial intelligence. Apple fell 0.6% as Goldman removed the stock from its conviction list, while keeping a buy rating. It also removed Merck and Vertex Pharmaceuticals from its conviction list, replacing them with Amgen, Monday.com and Vulcan Materials. Here are some other notable movers:
- Caret Holdings shares jump 10% after the insurance technology company was upgraded to buy from hold at Jefferies and the broker raised its price target to a Street high.
- Eli Lilly gains 1.6% after BofA Global Research raised its price target on the weight-loss drugmaker to a Street-high of $1,000 on continued upside for its diabetes and obesity programs.
- Everbridge jumps 25% after the software firm said Thoma Bravo agreed to boost its acquisition price for the company by $6.40 per share to $35.00 per share, after it received a higher bid during the “go-shop” period.
- Ginkgo Bioworks shares slide 14%, after the synthetic biology firm’s forecast for the year disappointed, with Cowen saying that its guidance and quarter were “underwhelming” and noting that the company attributed the revenue decline to the biosecurity unit’s transition, and the lumpy impact of equity milestones that did not recur in 2023.
- HP Enterprise falls 5.6% after the computer hardware and storage company narrowed its adjusted earnings per share forecast for the full year. The firm cited cooling demand for networking products and a lack of availability of graphics processor units required to deliver high-powered servers.
- Humacyte falls 24%, after the biotech company offered shares to raise about $40 million at a 31% discount.
- New York Community Bancorp falls 21% after the company said it identified material weaknesses in its internal controls related to internal loan reviews. NYCB also replaced its CEO, saying that Executive Chairman Alessandro DiNello will take on the role.
- Senseonics shares drop 8.9% after the medical technology company reported fourth-quarter results. While the company beat expectations, Raymond James flagged the slower-than-expected adoption of Eversense.
- SoundHound AI falls 22%, with the voice AI software company retreating in the wake of its fourth-quarter results, as well as a massive rally in the stock price. Analysts are mixed on the report, and Cantor notes concerns about valuation.
- Sweetgreen jumps 20% after the salad chain’s first-quarter revenue forecast came ahead of expectations. Additionally, the company reported fourth-quarter same-store sales that were better than consensus. William Blair called the print a “sweet end” to the year.
Equity sentiment turned more cautious following Thursday’s core PCE data – t he Fed’s preferred inflation measure – which rose in January at the fastest pace in nearly a year, but matched economist forecasts. Traders were also comforted by jobless claims data that indicated labor-market softening. “The data came as a relief for those who were prepared for the worst,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
On the monetary policy front, euro-zone inflation eased less than anticipated in February — supporting European Central Bank officials who don’t want to rush into lowering rates. Meanwhile, Thursday’s US PCE report appeared not to dent the broader disinflationary trend underpinning rate-cut forecasts.
Federal Reserve Bank of San Francisco President Mary Daly said central bank officials are ready to lower interest rates as needed, but emphasized there’s no urgent need to cut given the strength of the economy. Her Atlanta counterpart Raphael Bostic said the central bank could begin cutting this summer. “For markets keenly focused on when the Fed will transition toward easing rates, this report will help restore confidence that it isn’t ‘if’ the Fed will begin to cut rates in 2024, but ‘when,’” said Quincy Krosby at LPL Financial.
Meanwhile, Bank of Americas’s Michael Hartnett said Chinese stock funds saw the largest weekly outflow since October, as the government seeks to stem a decline in the equity market. About $1.6 billion was pulled from Chinese funds in the week through Feb. 28, Hartnett wrote citing EPFR Global data. Beijing is attempting to restore market confidence after years of decline and slowing growth following the pandemic. As the turmoil deepened in recent months, the authorities have stepped up measures to help bolster sentiment, including restricting short selling and cracking down on high-speed trading.
European stocks advanced 0.5%, reversed earlier weakness after Eurozone CPI came in hotter than expected; banks and automobile shares leading gains, while construction and media stocks are the biggest laggards. Here are the biggest European movers:
- Daimler Truck shares rise as much as 15% to a record after the German truck maker posted fourth quarter results that were described “strong” by analysts, thanks to North American orders and the Mercedes-Benz trucks division
- IMCD shares rise as much as 10%, the biggest jump since August 2021, after the Dutch chemicals distributor reported margins that were better than analysts had expected
- Grifols shares jumped as much as 22%, rebounding from a 35% record decline on Thursday, after the Spanish plasma company said a key deal is coming closer to completion
- ITV shares jump as much as 16%, marking their biggest gain since April 2020, after the broadcaster sold its stake in streaming service BritBox and announced the net proceeds will be returned to shareholders through a buyback
- Bekaert gains as much as 9.1%, hitting the highest level since May 2017, with analysts planning to increase their 2024 estimates following the Belgian steel wire company’s results and outlook
- Corbion gains as much as 7.2% after the Dutch ingredients maker proposed a 9% dividend hike on the back of positive free cash flow momentum. Degroof Petercam analyst Fernand De Boer anticipates this could be followed by share buybacks
- Rightmove shares fall as much as 5.3%, the worst performance in the Stoxx 600 Real Estate Index on Friday, after the properly listings portal reported results that were in line with expectations
- IMI shares fall as much as 3.2%, extending losses into a fifth consecutive session, after the engineering firm’s EPS guidance for this year came in slightly below expectations, according to Liberum
- Acerinox declined 7.8% in early trading in Madrid, most since July 2022, after the Spanish stainless steel producer missed estimates and gave a weaker first-quarter outlook that Morgan Stanley says suggests high-single-digit downgrades to consensus Ebitda for 2024
- AMS-Osram’s shares extend drop after Thursday’s plunge of almost 40%, declining another 8.3% after Stifel cut the recommendation on the Swiss chipmaker to hold from buy
Earlier in the session, Asian stocks rose with Japan’s Nikkei 225 climbing 1.9% to its strongest-ever close near the 40,000 mark. Asian equities kickstarted March with gains after registering their best February performance in nine years, buoyed by a climb in Japan and China. The MSCI Asia Pacific Index rose as much as 0.5% , with technology and consumer discretionary stocks among the main advancers. Shares climbed on the mainland and Hong Kong ahead of next week’s crucial National People’s Congress meeting, where traders are awaiting more policy support from Beijing. Chinese authorities will likely display “a sense of urgency to show that there is no acceleration in this deflationary environment,” Xavier Baraton, global CIO at HSBC Global Asset Management in France, told Bloomberg television. “Valuations are extremely attractive, which means limited downside for us.”
In FX, the Bloomberg Dollar Spot Index rose 0.1%. The yen was the weakest of the G-10 currencies, falling 0.3% versus the greenback after Bank of Japan Governor Ueda told reporters the price target is not already in sight, reversing hawkish comments from one of his co-workers just the day before as the BOJ confirms it has no idea what it will do next. His comment tempered speculation the bank’s first rate hike since 2007 could come as early as March.
In rates, treasuries rose while European government bonds pared an earlier decline as US equity futures fall. US 10-year yields drop 4bps to 4.22% while European bonds recovered despite euro-area inflation slowing less than expected in February.
In commodities, oil was on track for a modest weekly gain as market gauges continued to show signs of strength, with OPEC+ set to decide early this month whether to extend supply cuts into the next quarter. WTI rose 1.1% to trade near $79.10. Spot gold rose 0.5%.
Bitcoin gained for a seventh day, trading above $62,000 as demand from exchange-traded funds continues. BlackRock Inc.’s iShares Bitcoin Trust netted a $604 million inflow on Thursday following a record $612 million on Wednesday.
Today’s US economic data calendar includes February final S&P manufacturing PMI (9:45am), January construction spending, February final University of Michigan sentiment, February ISM manufacturing (10am) and February Kansas City Fed services activity (11am). Fed speakers scheduled include Barkin (8:30am), Goolsbee (10am, 4pm), Waller, Logan (10:15am), Bostic (12:15pm), Daly (1:30pm) and Kugler (3:20pm).
Market Snapshot
- S&P 500 futures up 0.1% to 5,109.25
- STOXX Europe 600 up 0.5% to 496.98
- MXAP up 0.5% to 173.76
- MXAPJ up 0.3% to 526.58
- Nikkei up 1.9% to 39,910.82
- Topix up 1.3% to 2,709.42
- Hang Seng Index up 0.5% to 16,589.44
- Shanghai Composite up 0.4% to 3,027.02
- Sensex up 1.7% to 73,768.05
- Australia S&P/ASX 200 up 0.6% to 7,745.61
- Kospi down 0.4% to 2,642.36
- German 10Y yield little changed at 2.45%
- Euro little changed at $1.0812
- Brent Futures up 0.9% to $82.63/bbl
- Gold spot up 0.0% to $2,045.04
- US Dollar Index little changed at 104.14
Top Overnight News
- Stocks advanced Friday after a reassuring reading on US inflation calmed traders’ worst fears on the outlook for interest rates and spurred fresh record highs on Wall Street.
- Pacific Investment Management Co. is warning that US fiscal profligacy threatens to drag the Treasury market back to 1980s, a time when bond vigilantes demanded far higher compensation to own longer-dated bonds.
- Federal Reserve Bank of New York President John Williams said he doesn’t see a need for officials to tighten policy further and reiterated that he expects the central bank to cut rates later this year.
- Swiss National Bank President Thomas Jordan will step down in September after more than a decade on the job, according to a statement on Friday.
- Returns on carry trades using the world’s biggest currencies. This often profitable but potentially risky strategy involves borrowing the lowest-yielding currencies in the Group-of-10 economies and using the funds to bet on the highest-yielding ones.
- Bank of Japan Governor Kazuo Ueda is keeping his options open for the timing of a widely expected interest rate hike, a position that may fuel further market volatility as investors and economists speculate over a March or April move
Earnings
- Dell Technologies Inc (DELL) – Q4 2023 (USD): Adj. EPS 2.20 (exp. 1.73), Revenue 22.32bln (exp. 22.16bln). Shares +22.4% in pre-market trade.
- Saint Gobain (SGO FP) – FY23 (EUR): Recurring 6.39bln (prev. 6.48bln Y/Y), EBITDA 7bln (exp. 6.9bln, prev. 7.12bln Y/Y), Revenue 47.9bln (exp. 47.8bln, prev. 51.2bln Y/Y). Expects to complete previously announced 5yr 2bln buyback in 2024. Guides initial FY24 Op. margin “double digit”. Shares -4.2% in European trade
- Daimler Truck (DTG GY) – Q4 (EUR): Adj. EBIT 1.56bln (exp. 1.36bln), Revenue 15bln (exp. 14.85bln). Raises dividend to 1.9/shr (prev 1.30/shr). Guides initial FY24 Revenue 55-75bln. (Newswires) Shares +12.8% in European trade
A more detailed look at global markets courtesy of Newsquawk
APAC stocks traded with positive bias amid tailwinds from the US following an absence of any hawkish surprises in the PCE data, while participants also reflected on the latest Chinese PMI figures. ASX 200 printed fresh record highs and entered bull market territory after gaining over 20% from its 2022 low. Nikkei 225 extended on its best levels and advanced closer to the 40,000 level amid a weaker currency and after BoJ Governor Ueda said Japan’s economy is not yet in a situation where sustained achievement of 2% inflation can be foreseen, which is in contrast with the prior day’s hawkish rhetoric from board member Takata. Hang Seng and Shanghai Comp. lagged behind their regional peers although the Hong Kong benchmark clawed back initial losses with the help of tech strength, while the mainland was indecisive after the PBoC drained liquidity and as participants digested Chinese PMI data which was mostly encouraging although Official Manufacturing PMI remained in contraction territory for the 5th consecutive month.
Top Asian News
- China’s Commerce Ministry said China’s trade faces a complex, severe, and uncertain external environment, while it will help companies explore the market and expand imports to ensure domestic demand, according to Reuters.
- BoJ Governor Ueda said inflation is easing at a quick pace and wage negotiations will offer a tailwind, while he added that Japan’s economy will continue a gradual recovery and the economy is not yet in a situation where sustained achievement of 2% inflation can be foreseen. Ueda also commented that in judging whether a sustained achievement of the 2% inflation target can be foreseen, this year’s annual wage negotiation outcome is key.
- RBNZ Governor Orr said the economy is evolving as anticipated and inflation expectations have declined, while inflation is still too high but is declining and policy needs to stay restrictive for some time. Orr also said he expects to begin normalising policy next year and economic growth to begin picking up this year.
- RBNZ Deputy Governor Hawkesby said restrictive policy is needed to ensure inflation expectations anchor at 2% and policy is going to stay restrictive for some time yet, while they don’t have a lot of room to manoeuvre when it comes to future inflation shocks. Hawkesby said they are on the right path with inflation and have to hold their course, as well as noted they are not in a mindset to cut rates now and will be cutting sometime down the track.
- Fitch cuts China new home sales forecast, sees wider effects from a slower recovery. Cuts forecast for the Chinese hosing market to a 5-10% decline in 2024 new home sales
European bourses, Stoxx600 (+0.1%) began the session firmly in the green, though did succumb to some early morning pressure ahead of EZ inflation. Thereafter, European equities took another leg lower, with sentiment subdued following the hotter-than-expected print. However, the move came alongside marked uptick in EGBs, with the move seen across assets and has a risk-feel to it; though, it does appear to have been driven by the ‘relief’ in EGBs post-HICP which while hotter-than-expected continues the cooling narrative. European sectors hold a positive tilt; Autos is firmer, being propped up by post-earning gains in Daimler Truck (+12.8%). Energy has been lifted by recent strength in the crude complex; BP (+1.2%)/Shell (+1%). To the downside, Saint-Gobain weighs on Construction & Materials, after poor results. US Equity Futures (ES -0.2%, NQ -0.2%, RTY -0.4%) are entirely in the red. The RTY underperforms, largely hampered by regional banking fears after NYCB (-24% pre-market) announced it had identified weaknesses in internal controls.
Top European news
- Portuguese Finance Minister Medina called for the ECB to start lowering borrowing costs and warned that maintaining them at their current level is a “high risk”, while he noted various European countries are experiencing a strong slowdown with some already in stagnation and recession, according to Bloomberg.
- SNB Chairman Thomas Jordan to step down at end of September 2024.
- UK Chancellor Hunt has ruled out stamp duty cuts in the March budget, according to i news; due to a belief this would fuel inflation
FX
- Contained trade for the DXY and within a 104.04-21 range, respecting yesterday’s 103.65-104.20 parameters. Upcoming data/speaker slate could provide impetus and bring the weekly high of 104.24 into view.
- EUR/USD is ultimately around flat after the hotter-than-expected inflation metrics but respecting yesterday’s 1.0795-1.0856 range. Interim resistance provided by the 100DMA at 1.0824.
- JPY is the underperformer across the majors following dovishly-perceived comments from Ueda. USD/JPY is up to 150.68 at best with all eyes on the YTD peak at 150.88.
- Antipodeans are marginally firmer vs. the USD in uneventful trade with AUD continuing to pivot around the 0.65 mark after making a base for the week yesterday at 0.6486. NZD/USD unable to crack 0.61 after printing a YTD trough yesterday at 0.6077.
- PBoC set USD/CNY mid-point at 7.1059 vs exp. 7.2011 (prev. 7.1036).
Fixed Income
- USTs began the session with a bearish bias, attempting to pare back some of the PCE-induced gains. However, after the EZ CPI (which sparked a fleeting hawkish reaction), the bond complex caught a bid, taking treasuries to fresh session highs; currently around 6 ticks firmer with the curve steeper into US ISM & Fed speak.
- Bunds also began the session on a softer footing. Following the hotter-than-expected CPI there was a fleeting downward move to a test of 132.00 however this was shortlived with Bunds now bouncing and briefly surpassing the 132.54 overnight high. Perhaps driven by the view that while HICP was hotter than expected, it is still cooling overall and does not change the pre-existing narrative of a June move.
- Gilt price action is in-fitting with EGBs, and unreactive to its own PMI (the HCOB commentary brought attention to ongoing inflationary pressures); Gilts following suit, briefly moved into the green as EGBs bounced but have settled near unchanged.
Commodities
- Crude is firmer after a relatively contained start to the session. The complex caught a bid in the European morning, just after the release of EZ Manufacturing PMIs which were revised up but remain bleak overall; Brent holds just shy of USD 83/bbl.
- XAU is firmer, continuing to build on the prior day’s PCE-induced gains. Has climbed above USD 2050/oz, but with still some way to go thereafter before the USD 2078/oz YTD peak.
- Base metals in the red, hit by PMIs remaining in contraction (despite upward revisions) and soft Chinese performance given the region’s Manufacturing number printed below 50.0 for the fifth consecutive month. Initial USD upside is also a hindrance, though this narrative has diminished somewhat.
Geopolitics: Middle East
- Israeli PM Netanyahu said Israel won’t fold to the delusional demand of Hamas but will provide freedom of worship to Muslims during the month of Ramadan while maintaining security at the same time, according to Al Jazeera.
- French President Macron said the situation in Gaza is terrible and a ceasefire must be implemented immediately to allow humanitarian aid to be distributed, while France’s Foreign Ministry said the shooting by Israeli soldiers against civilians trying to access food is unjustifiable and they are waiting for all light to be shed on the shooting. The ministry also said it is Israel’s responsibility to comply with the rules of international law and protect the distribution of humanitarian aid to civilian populations.
- UN Secretary-General Guterres said the killing of over 100 humanitarian aid seekers in Gaza would require an effective independent investigation.
- US military said it conducted strikes against six anti-ship cruise missiles and an aerial drone that posed a threat to ships in the Red Sea, according to Reuters.
Geopolitics: Other
- US Defense Secretary Austin told the House Armed Services Committee that the Russian leadership “won’t stop there” if Ukraine is defeated and that Russia and NATO could come into conflict if Ukraine falls, according to TASS.
- Japan’s government will freeze the assets of 12 individuals and 8 organisations due to their involvement in the Ukraine conflict.
US event calendar
- 09:45: Feb. S&P Global US Manufacturing PM, est. 51.5, prior 51.5
- 10:00: Jan. Construction Spending MoM, est. 0.2%, prior 0.9%
- 10:00: Feb. ISM Manufacturing, est. 49.5, prior 49.1
- Feb. ISM New Orders, prior 52.5
- Feb. ISM Employment, prior 47.1
- Feb. ISM Prices Paid, est. 53.2, prior 52.9
- 10:00: Feb. U. of Mich. Sentiment, est. 79.6, prior 79.6
- Feb. U. of Mich. 1 Yr Inflation, est. 3.0%, prior 3.0%
- Feb. U. of Mich. 5-10 Yr Inflation, est. 2.9%, prior 2.9%
- Feb. U. of Mich. Current Conditions, prior 81.5
- Feb. U. of Mich. Expectations, prior 78.4
- 11:00: Feb. Kansas City Fed Services Activ, prior -2
DB’s Jim Reid concludes the overnight wrap
You’re not going to believe it but its March already! Since it’s the start of the month, we’ll shortly be releasing our monthly performance review, covering how different assets fared in February. In terms of the headlines, the Magnificent 7 posted its strongest performance in 9 months, which powered global equities up to all-time highs. But even as growth data remained resilient, fresh upside inflation surprises led to notable losses for bonds, and 2yr Treasury yields saw their biggest increase in 7 months since June as investors kept pushing out the timing of future rate cuts. See the full report in your inboxes shortly.
When it came to the last 24 hours, markets got a boost on a relief that the US PCE inflation report was in line with expectations, after the latest European inflation numbers fell back earlier in the day. That helped sovereign bonds rally on both sides of the Atlantic, while the S&P 500 (+0.52%) advanced to a new all-time high. The moves also leave the S&P just about on course to post another weekly advance (+0.15% so far this week). If it does hold on to this weekly gain, it would mark 16 out of 18 positive weeks for the first time since 1971, so it’s hovering around some big milestones. So no pressure today for the market!
With positive month-end sentiment dominating the end of yesterday’s session, it was not only the S&P 500 eking out yet another all-time high, but there was also a new record high for the NASDAQ (+0.90%), which moved above its previous peak from November 2021. Consistent with the narrative of the year so far, the Magnificent 7 outperformed (+1.22%), with Amazon (+2.08%) and Nvidia (+1.87%) leading the way. The equity picture had been more subdued in Europe, where the STOXX 600 ended the day unchanged, although the German DAX (+0.44%) continued to outperform yesterday. Indeed, yesterday’s advance was the 7th consecutive gain for the DAX, taking the index up to a fresh all-time high.
Looking at the main trigger of the optimism, the PCE inflation report showed headline PCE running at a monthly +0.3% as expected, which took the year-on-year measure down to 2.4%, and its lowest since February 2021. Core PCE was running above that, at a 12-month high of +0.42%, but markets weren’t too alarmed as it was in line with the +0.4% expected by the consensus. Nevertheless, the report added to signs that inflation was still lingering above target, and some of the 6-month measures (which had previously pointed to inflation being back at target) were no longer looking as favourable. For instance, core PCE had been running at +1.9% on a 6m annualised basis, but after this January report, it was up to +2.5% again. Likewise, headline PCE rose from +2.1% to +2.5% on a 6m basis. Interestingly outside the pandemic period, and the month after 9/11, the monthly core print of 0.42% was the highest since the early 1990s. However there were some odd potential one-offs in the report such as a surge in portfolio management charges. So for now the market is relaxed but inflation is proving a little sticky as we start the year. Perhaps the sanguine response is based on the fact that pretty much nobody now expects a March cut and a lot of water can flow under the bridge before June when the market expects the first one. So plenty of time to change mind on things or the data to change.
Over in the Euro Area, rates initially saw a modest sell off amid country-level flash CPI prints for February. But in the end these came largely in line with expectations, with a pattern of slowing, but still above target, inflation. German inflation was down to +2.7% on the EU-harmonised measure, whilst in France it was down to +3.1%, its lowest since September 2021. Both of these were in line with consensus, while Spain’s print was a touch above (+2.9% vs +2.8% exp.). This morning we’ll get the Euro Area-wide release, which will set the stage for the ECB’s next meeting on Thursday. With the available country prints, our economists see a marginal upside risk to the consensus expectations of +2.5% headline and +2.9% core inflation.
Against this backdrop, sovereign bonds posted a moderate rally yesterday, clawing back some of their losses over February as a whole. In the US, 10yr Treasuries yields fell -1.5bps to 4.25%, while 2yr yields retreated by -1.8bps. This was a decent turnaround, having been up by 5-6bps shortly before the US data. And over in Europe, yields on 10yr bunds (-4.8bps), OATs (-4.2bps) and BTPs (-4.1bps) all fell back by a larger amount.
Both 2yr and 10yr Treasuries had traded flat on the day around the US equity close, but saw a slight rally late on after New York Community Bancorp said it had identified “material weaknesses” in risk controls. NYCB also announced a $2.4bn goodwill impairment and replaced its CEO. Shares of the troubled regional bank fell more than 20% in extended trading, having already declined by 54% over the past month. So one to keep an eye on today.
Asian equity markets are higher this morning with the Nikkei (+1.82%) leading gains, hitting a fresh all-time high after a two-day losing streak while the Hang Seng (+0.75%), the CSI (+0.33%) and the Shanghai Composite (+0.10%) are also moving higher. South Korea is closed for a holiday. S&P 500 (+0.15%) and NASDAQ 100 (+0.21%) futures are edging higher.
Early morning data showed that China’s o fficial manufacturing PMI contracted for the fifth straight month in February but was broadly inline at 49.1 (v/s 49.0 expected) versus the 49.2 seen in January. Meanwhile, the official non-manufacturing PMI grew more than expected to 51.4 in February after a 50.7 reading in January. This saw China’s composite PMI remain steady at 50.9 in February. Elsewhere, Japan ’s labour market remained tight as the jobless rate dropped to 2.4% in January, the lowest level since early 2020 as against December’s revised level of 2.5%.
The Japanese yen (-0.27%) weakened to 150.38 after the BoJ Governor Kazuo Ueda stated that he is still not confident the nation can sustainably attain the central bank’s 2% inflation target while stressing the need to see the outcome of wage negotiations currently taking place, for confirmation of a positive wage-inflation cycle. He seems to be wanting to temper speculation that the BoJ could move as early as this month giving the BoJ some optionality. It is still likely that happens before the end of April though.
Back to yesterday, and on the inflation side, one ongoing theme is that short-term US inflation expectations have continued to move higher in recent days. In particular, the US 2yr breakeven was up +1.5bps yesterday to 2.79%, the highest since last March, and the 2yr zero-coupon inflation swap (+1.1bps) reached its highest since October at 2.445%. This comes as the recent uptick in oil prices continues to filter through to the real economy, with US gasoline prices up to a 3-month high of $3.319 per gallon on Wednesday.
Looking at yesterday’s other data, UK mortgage approvals rose to 55.2k in January (vs. 52.0k expected), which is their highest level since October 2022. Otherwise in the US, the weekly initial jobless claims rose to 215k over the week ending February 24 (vs. 210k expected), ending a run of 3 consecutive weekly declines. In the meantime, continuing claims were up to 1.905m in the week ending February 17 (vs. 1.875m expected), their highest level since November.
To the day ahead now, and data releases include the global manufacturing PMIs for February, along with the ISM manufacturing reading from the US. Over in the Euro Area, we’ll get the flash CPI inflation release for February, as well as the unemployment rate for January. Otherwise, central bank speakers include the Fed’s Barkin, Waller, Logan, Bostic, Daly and Kugler, the ECB’s Holzmann, and BoE chief economist Pill.
2 B) NOW NEWSQUAWK (EUROPE/REPORT)
EZ CPI dictates price action, with equities hampered & bonds bid, JPY suffers post-Ueda; US ISM & Fed speak due – Newsquawk US Market Open
FRIDAY, MAR 01, 2024 – 06:13 AM
- European equities began the session on a firm footing, though have succumbed to selling pressure after the hotter-than-expected EZ CPI print; US futures lower, with RTY hampered by NYCB losses
- The EZ metric sparked a fleeting hawkish reaction in the bond complex; soon-after EGBs moved to session highs, as the cooling narrative remains in-play & a June cut is still priced
- Dollar holds around flat and the Yen underperforms after dovishly-perceived comments from Ueda overnight
- Crude is bid, though with catalysts light; XAU continues to build on the prior day’s gains
- Looking ahead, US and Canadian Manufacturing PMI, US UoM Inflation Expectations, Comments from BoE’s Pill, Fed’s Barkin, Waller, Logan, Kugler, Bostic & Daly.
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EUROPEAN TRADE
EQUITIES
- European bourses, Stoxx600 (+0.1%) began the session firmly in the green, though did succumb to some early morning pressure ahead of EZ inflation. Thereafter, European equities took another leg lower, with sentiment subdued following the hotter-than-expected print.
- However, the move came alongside marked uptick in EGBs, with the move seen across assets and has a risk-feel to it; though, it does appear to have been driven by the ‘relief’ in EGBs post-HICP which while hotter-than-expected continues the cooling narrative.
- European sectors hold a positive tilt; Autos is firmer, being propped up by post-earning gains in Daimler Truck (+12.8%). Energy has been lifted by recent strength in the crude complex; BP (+1.2%)/Shell (+1%). To the downside, Saint-Gobain weighs on Construction & Materials, after poor results.
- US Equity Futures (ES -0.2%, NQ -0.2%, RTY -0.4%) are entirely in the red. The RTY underperforms, largely hampered by regional banking fears after NYCB (-24% pre-market) announced it had identified weaknesses in internal controls.
- Click here and here for the sessions European pre-market equity newsflow, including earnings from Daimler Truck, Saint Gobain & more.
- Click here for more details.
FX
- Contained trade for the DXY and within a 104.04-21 range, respecting yesterday’s 103.65-104.20 parameters. Upcoming data/speaker slate could provide impetus and bring the weekly high of 104.24 into view.
- EUR/USD is ultimately around flat after the hotter-than-expected inflation metrics but respecting yesterday’s 1.0795-1.0856 range. Interim resistance provided by the 100DMA at 1.0824.
- JPY is the underperformer across the majors following dovishly-perceived comments from Ueda. USD/JPY is up to 150.68 at best with all eyes on the YTD peak at 150.88.
- Antipodeans are marginally firmer vs. the USD in uneventful trade with AUD continuing to pivot around the 0.65 mark after making a base for the week yesterday at 0.6486. NZD/USD unable to crack 0.61 after printing a YTD trough yesterday at 0.6077.
- PBoC set USD/CNY mid-point at 7.1059 vs exp. 7.2011 (prev. 7.1036).
- Click here for more details.
FIXED INCOME
- USTs began the session with a bearish bias, attempting to pare back some of the PCE-induced gains. However, after the EZ CPI (which sparked a fleeting hawkish reaction), the bond complex caught a bid, taking treasuries to fresh session highs; currently around 6 ticks firmer with the curve steeper into US ISM & Fed speak.
- Bunds also began the session on a softer footing. Following the hotter-than-expected CPI there was a fleeting downward move to a test of 132.00 however this was shortlived with Bunds now bouncing and briefly surpassing the 132.54 overnight high. Perhaps driven by the view that while HICP was hotter than expected, it is still cooling overall and does not change the pre-existing narrative of a June move.
- Gilt price action is in-fitting with EGBs, and unreactive to its own PMI (the HCOB commentary brought attention to ongoing inflationary pressures); Gilts following suit, briefly moved into the green as EGBs bounced but have settled near unchanged.
- Click here for more details.
COMMODITIES
- Crude is firmer after a relatively contained start to the session. The complex caught a bid in the European morning, just after the release of EZ Manufacturing PMIs which were revised up but remain bleak overall; Brent holds just shy of USD 83/bbl.
- XAU is firmer, continuing to build on the prior day’s PCE-induced gains. Has climbed above USD 2050/oz, but with still some way to go thereafter before the USD 2078/oz YTD peak.
- Base metals in the red, hit by PMIs remaining in contraction (despite upward revisions) and soft Chinese performance given the region’s Manufacturing number printed below 50.0 for the fifth consecutive month. Initial USD upside is also a hindrance, though this narrative has diminished somewhat.
- Click here for more details.
NOTABLE EUROPEAN HEADLINES
- Portuguese Finance Minister Medina called for the ECB to start lowering borrowing costs and warned that maintaining them at their current level is a “high risk”, while he noted various European countries are experiencing a strong slowdown with some already in stagnation and recession, according to Bloomberg.
- SNB Chairman Thomas Jordan to step down at end of September 2024.
- UK Chancellor Hunt has ruled out stamp duty cuts in the March budget, according to i news; due to a belief this would fuel inflation
DATA RECAP
- EU Unemployment Rate (Jan) 6.4% vs. Exp. 6.4% (Prev. 6.4%, Rev. 6.5%)
- EU HICP Flash YY (Feb) 2.6% vs. Exp. 2.5% (Prev. 2.8%); HICP-X F&E Flash YY (Feb) 3.3% (Prev. 3.6%); HICP-X F,E,A&T Flash YY (Feb) 3.1% vs. Exp. 2.9% (Prev. 3.3%)
- UK Nationwide house price mm (Feb) 0.7% vs. Exp. 0.3% (Prev. 0.7%); Nationwide house price Y/Y (Feb) 1.2% vs. Exp. 0.7% (Prev. -0.2%)
- Spanish HCOB Manufacturing PMI (Feb) 51.5 vs. Exp. 50.0 (Prev. 49.2)
- UK S&P Global Manufacturing PMI (Feb) 47.5 vs. Exp. 47.1 (Prev. 47.1)
- EU HCOB Manufacturing Final PMI (Feb) 46.5 vs. Exp. 46.1 (Prev. 46.1)
- German HCOB Manufacturing PMI (Feb) 42.5 vs. Exp. 42.3 (Prev. 42.3)
- Italian HCOB Manufacturing PMI (Feb) 48.7 vs. Exp. 49.1 (Prev. 48.5)
- Italian CPI (EU Norm) Prelim YY (Feb) 0.9% vs. Exp. 1.0% (Prev. 0.9%); Consumer Price Prelim YY (Feb) 0.8% vs. Exp. 0.9% (Prev. 0.8%); Consumer Price Prelim MM (Feb) 0.1% (Prev. 0.3%)
EARNINGS
- Dell Technologies Inc (DELL) – Q4 2023 (USD): Adj. EPS 2.20 (exp. 1.73), Revenue 22.32bln (exp. 22.16bln). Shares +22.4% in pre-market trade.
- Saint Gobain (SGO FP) – FY23 (EUR): Recurring 6.39bln (prev. 6.48bln Y/Y), EBITDA 7bln (exp. 6.9bln, prev. 7.12bln Y/Y), Revenue 47.9bln (exp. 47.8bln, prev. 51.2bln Y/Y). Expects to complete previously announced 5yr 2bln buyback in 2024. Guides initial FY24 Op. margin “double digit”. Shares -4.2% in European trade
- Daimler Truck (DTG GY) – Q4 (EUR): Adj. EBIT 1.56bln (exp. 1.36bln), Revenue 15bln (exp. 14.85bln). Raises dividend to 1.9/shr (prev 1.30/shr). Guides initial FY24 Revenue 55-75bln. (Newswires) Shares +12.8% in European trade
NOTABLE US HEADLINES
- Fed’s Williams (voter) said the Fed can take time to deliberate on the next policy move and he expects the Fed to cut interest rates later this year but doesn’t see a sense of urgency to cut rates. Williams also said a rate hike is not part of the base case and that the current outlook doesn’t suggest another hike is needed.
- US House and Senate passed the stopgap funding bill to avert a government shutdown and sent it to President Biden for signing, while President Biden commented that Congress must do its job and pass full-year funding bills in the days ahead.
- New York Community Bancorp (NYCB) identified material weaknesses in internal controls and discussed matters disclosed with KPMG, while it expects to file its 10k late and it completed goodwill impairment assessment on Feb. 23rd in which it determined a goodwill impairment charge was required, resulting in a USD 2.4bln decrease to Q4 and annual net (loss) income. Shares -24% pre-market
- Tesla (TSLA) raises price of Model Y rear wheel drive to USD 43,990 (prev. USD 42,990) in the US.
- White House says US commerce department opening an investigation into Chinese made vehicles over connected vehicle technology and data collection concerns; Biden administration may bar or restrict Chinese vehicle imports, citing national security
- Goldman Sachs has removed Apple (AAPL) from its Conviction List
GEOPOLITICS
MIDDLE EAST
- Israeli PM Netanyahu said Israel won’t fold to the delusional demand of Hamas but will provide freedom of worship to Muslims during the month of Ramadan while maintaining security at the same time, according to Al Jazeera.
- French President Macron said the situation in Gaza is terrible and a ceasefire must be implemented immediately to allow humanitarian aid to be distributed, while France’s Foreign Ministry said the shooting by Israeli soldiers against civilians trying to access food is unjustifiable and they are waiting for all light to be shed on the shooting. The ministry also said it is Israel’s responsibility to comply with the rules of international law and protect the distribution of humanitarian aid to civilian populations.
- UN Secretary-General Guterres said the killing of over 100 humanitarian aid seekers in Gaza would require an effective independent investigation.
- US military said it conducted strikes against six anti-ship cruise missiles and an aerial drone that posed a threat to ships in the Red Sea, according to Reuters.
OTHER
- US Defense Secretary Austin told the House Armed Services Committee that the Russian leadership “won’t stop there” if Ukraine is defeated and that Russia and NATO could come into conflict if Ukraine falls, according to TASS.
- Japan’s government will freeze the assets of 12 individuals and 8 organisations due to their involvement in the Ukraine conflict.
CRYPTO
- Bitcoin continues recent bullish price action, and holds right above USD 62k.
APAC TRADE
- APAC stocks traded with positive bias amid tailwinds from the US following an absence of any hawkish surprises in the PCE data, while participants also reflected on the latest Chinese PMI figures.
- ASX 200 printed fresh record highs and entered bull market territory after gaining over 20% from its 2022 low.
- Nikkei 225 extended on its best levels and advanced closer to the 40,000 level amid a weaker currency and after BoJ Governor Ueda said Japan’s economy is not yet in a situation where sustained achievement of 2% inflation can be foreseen, which is in contrast with the prior day’s hawkish rhetoric from board member Takata.
- Hang Seng and Shanghai Comp. lagged behind their regional peers although the Hong Kong benchmark clawed back initial losses with the help of tech strength, while the mainland was indecisive after the PBoC drained liquidity and as participants digested Chinese PMI data which was mostly encouraging although Official Manufacturing PMI remained in contraction territory for the 5th consecutive month.
NOTABLE HEADLINES
- China’s Commerce Ministry said China’s trade faces a complex, severe, and uncertain external environment, while it will help companies explore the market and expand imports to ensure domestic demand, according to Reuters.
- BoJ Governor Ueda said inflation is easing at a quick pace and wage negotiations will offer a tailwind, while he added that Japan’s economy will continue a gradual recovery and the economy is not yet in a situation where sustained achievement of 2% inflation can be foreseen. Ueda also commented that in judging whether a sustained achievement of the 2% inflation target can be foreseen, this year’s annual wage negotiation outcome is key.
- RBNZ Governor Orr said the economy is evolving as anticipated and inflation expectations have declined, while inflation is still too high but is declining and policy needs to stay restrictive for some time. Orr also said he expects to begin normalising policy next year and economic growth to begin picking up this year.
- RBNZ Deputy Governor Hawkesby said restrictive policy is needed to ensure inflation expectations anchor at 2% and policy is going to stay restrictive for some time yet, while they don’t have a lot of room to manoeuvre when it comes to future inflation shocks. Hawkesby said they are on the right path with inflation and have to hold their course, as well as noted they are not in a mindset to cut rates now and will be cutting sometime down the track.
- Fitch cuts China new home sales forecast, sees wider effects from a slower recovery. Cuts forecast for the Chinese hosing market to a 5-10% decline in 2024 new home sales
DATA RECAP
- Chinese NBS Manufacturing PMI (Feb) 49.1 vs. Exp. 49.1 (Prev. 49.2); NBS Non-Manufacturing PMI (Feb) 51.4 vs. Exp. 50.9 (Prev. 50.7); Composite PMI (Feb) 50.9 (Prev. 50.9); Caixin Manufacturing PMI Final (Feb) 50.9 vs. Exp. 50.6 (Prev. 50.8)
2C ASIA AFFAIRS
FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED UP 11.85 PTS OR 0.39% //Hang Seng CLOSED UP 78.00 PTS OR 0.47% / Nikkei CLOSED UP 744.63 PTS OR 1.90%//Australia’s all ordinaries CLOSED UP 0.60% /Chinese yuan (ONSHORE) closed DOWN 7.1985 //OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2130 /Oil UP TO 79.53 dollars per barrel for WTI and BRENT UP AT 83.09/ Stocks in Europe OPENED ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
2 d./NORTH KOREA/ SOUTH KOREA/
NORTH KOREA/SOUTH KOREA
END
2e) JAPAN
JAPAN
3 CHINA
CHINA/USA
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
FRANCE/NATO
Macron is a NEO CON, warmonger and a total nut care as he wants to send NATO troops into the Ukraine fighting the Russians
(zerohedge)
Macron Doubles-Down On NATO Sending Troops To Ukraine Remarks
BY TYLER DURDEN
FRIDAY, MAR 01, 2024 – 01:05 PM
Authored by Dave DeCamp via AntiWar.com,
French President Emmanuel Macron on Thursday stood behind his comments about NATO not ruling out sending troops to Ukraine despite the uproar it caused and the warning it drew from Russia.
“These are sufficiently serious issues; every one of the words that I say on this issue is weighed, thought through, and measured,” Macron told reporters.
Following a meeting of European leaders on the Ukrainian proxy war on Monday, Macron said, “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.”
His comments appeared to confirm a warning from Slovakia’s Prime Minister Robert Fico, an opponent of NATO support for Ukraine, who said earlier that some NATO members were considering sending troops to Ukraine on a “bilateral basis.”
Macron’s comments caused many NATO members to refute the idea that they’re considering sending combat troops to Ukraine, although it’s an open secret that there are a small number of NATO special operations forces already in the country.
One NATO country that backed up Macron is Lithuania, the Baltic nation that borders Kaliningrad and has an active duty military that only consists of only about 15,000 troops.
Lithuanian Foreign Minister Gabrielius Landsbergis welcomed Macron’s comments, saying, “No option can be rejected out of hand.” The country’s defense minister, Arvydas Anušauskas, said troops could potentially be sent to Ukraine for training, not for combat.
The Kremlin has warned that the deployment of Western troops to Ukraine would make a direct Russia-NATO war inevitable. Russian President Vladimir Putin warned on Thursday that Russia’s nuclear arsenal is on “full combat alert.”
end
5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS
ISRAEL HAMAS/
The chase continues: IDF arrives at ‘Room 6,’ where Sinwar left evidence and quickly escaped
Military sources said that Sinwar had planned to fight from an underground fortified base called “Room 6” – a place equipped for a long stay.
By AMIR BOHBOTFEBRUARY 29, 2024 09:06Updated: FEBRUARY 29, 2024 09:51
Yahya Sinwar was surprised by the IDF’s maneuver deep into Palestinian territory, according to a statement released by senior security officials on Wednesday. The Hamas leader intended to conduct fighting from an underground fortified base called “Room 6,” which was equipped for extended stays with military personnel and communications lines, according to IDF intel.
“Sinwar plans and acts accordingly to each situation and doesn’t necessarily trust those around him,” the military source said. “He will make mistakes, and we need to be there or in proximity to recognize it.”
Now, he moves from place to place and plans his actions accordingly. “The distance between us and him will be shortened by one mistake too many of his.”
The hunt for Sinwar
According to a senior security official, Yahya Sinwar planned to conduct the war as he moved through the underground infrastructure in Gaza City, constantly moving underground according to developments in the situation. Therefore, he built the tunnels while focusing on a prolonged stay in the densely woven tunnels and was surprised when the IDF began to maneuver deep into Palestinian territory.
The source also added that Sinwar was surprised every time. Left with no choice, he decided to move the focus of his activity, command, and control efforts towards the Khan Yunis area, pushing him to move from point to point underground using strategic tunnels.
“Room 6” is the name of the fortified center Sinwar arrived at. “Room 6” is an underground hub dug very deep compared to other Hamas tunnels. The center includes living rooms, security guards, communication lines, and a diverse number of openings meant to trick the IDF and intelligence forces.
As soon as Sinwar realized that the IDF was closing in on him quickly, the military source said, he decided to leave several locations, one after the other, hastily. In each case, he left behind money, documents, and other tell-tale signs that he was there.
Increasing pressure
According to the analysis of the findings discovered by the IDF’s special forces, engineering, and intelligence agencies, it appears that Sinwar feels enormous pressure. “Sinwar conducts himself based on his constantly changing surroundings, and as such, he does not necessarily trust his immediate environment since it is not a natural environment,” a senior military source told Walla! “When he moves from place to place, he meets factors he is not used to. It can be estimated that he does not even trust who brings him the food and what he is served to eat. This is a pressure point that cannot be ignored.”
Now, IDF sources estimate that due to the military’s progress above and below the ground in the Khan Yunis area and in the background of Israeli statements about the intention to maneuver in Rafah, the pressure on Sinwar and other senior Hamas officials is increasing every day. Now, he is expected to move, or has already moved, to underground infrastructure in Rafah.
Continuing IDF operations in Gaza
“If he rises above the ground, his chances of making more mistakes with the team that secures and surrounds him are increasing, and therefore, the IDF should continue to press all the points in the Gaza Strip regardless of the negotiations for the release of the hostages,” said a senior military source. “Sinwar, who is very suspicious by nature, will make mistakes, and when he makes mistakes, we have to be there or in the same space to recognize it.”
“Every hour that passes is to his detriment,” the source added. “The rate of progress in searching tunnels is indeed slow, but it is progressing, and it prevents another place where he, his family members, and the other senior Hamas terrorists can hide. My assessment is that he is on the verge of moving to Rafah or has already moved. One way or another, we will get him, even if it takes us hours or months. According to what he left behind, the distance between us and him will be shortened by one mistake too many of his.”
END
ISRAEL/GAZA/HAMAS
IDF says troops operating in Khan Younis captured dozens of Hamas operatives hiding in a school
By EMANUEL FABIAN FOLLOW
Today, 1:08 pm
Troops of the 7th Armored Brigade operate in Khan Younis, in a handout image published by the IDF on March 1, 2024. (Israel Defense Forces)
The IDF releases new footage from the operations of the 7th Armored Brigade in southern Gaza’s Khan Younis, saying the troops have been raiding the homes of Hamas commanders and have nabbed operatives hiding in a school.
According to the IDF, the 7th Brigade operated this week in new areas of Khan Younis, where troops had not yet been, during which they searched the homes of senior Hamas officials.
“In the heart of the residential neighborhoods, the troops encountered dozens of terrorists and eliminated them with tank shelling, in close-quarters combat, and by directing airstrikes,” the IDF says.
At the homes of the Hamas officials, the IDF says the troops found RPGs, explosives, assault rifles and other military equipment.
The troops also captured dozens of suspected terror operatives hiding in a school in Khan Younis.
“During their interrogation, the terrorists provided intelligence information that went directly to the forces operating in Khan Younis,” the IDF says.
Timesofisrael.com/liveblog_entry/idf-says-troops-operating-in-khan-younis-captured-dozens-of-hamas-operatives-hiding-in-a-school/
MOST POPULAR
END
ISRAEL/SYRIA/LEBANON
Iran Revolutionary Guards colonel killed in strike in Syria, state media says
Iranian media reports said Colonel Reza Zarei was killed along with two fighters from Lebanon’s Iran-backed Hezbollah group.
By REUTERSMARCH 1, 2024 10:51Updated: MARCH 1, 2024 17:31
A member of Iran’s Revolutionary Guards navy serving as a military adviser in Syria was killed in a suspected Israeli strike on Friday, Iran’s official news agency IRNA reported.
Other Iranian media reports said Colonel Reza Zarei was killed along with two fighters from Lebanon’s Iran-backed Hezbollah group.
Zarei was killed in a strike on a building used by Iranian forces in Syria’s coastal region of Tartous, a senior security source from the alliance supporting Syria’s government told Reuters.
When asked about the strike, the Israeli military said it did not comment on foreign reports.
Airstrikes in Syria
Iran’s Revolutionary Guards have scaled back deployment of their senior officers in Syria due to an alleged spate of deadly Israeli strikes and were relying more on allied Shi’ite militia to preserve their sway there, Reuters reported in February.
Israel has mostly struck areas around the capital Damascus but strikes in Tartous are rare.
This is a developing story.
END
ISRAEL/HAMAS/PRISONERS
Hamas claims seven hostages killed in captivity in Gaza
Hamas’s armed wing, the Izzadin al-Qassam Brigades, claimed a total of 70 hostages have now been killed.
By DANIELLE GREYMAN-KENNARD, SAM HALPERNMARCH 1, 2024 18:17Updated: MARCH 1, 2024 18:5
Hamas claimed on its Telegram channel on Friday that seven hostages had been killed during Israeli airstrikes on the Gaza Strip.
Hamas named three of the hostages that had been allegedly killed as Chaim Gershon Peri, 79, Yoram Itak Metzger, 80, and Amiram Israel Cooper, 85. The terrorist group said a later announcement would contain the names of the remaining four.
All three men were kidnapped from Kibbutz Nir Oz on October 7.
The information provided by Hamas is unconfirmed, and Hamas has previously shared false information on the well-being of hostages as part of its use of psychological warfare.
Hamas’s latest statement on the seven hostages
“We have previously announced that our contact has been cut off with our mujahideen who are guarding a number of enemy prisoners in our honest sector,” Hamas announced on their Telegram, “and that we believe that a number of the prisoners have been killed as a result of the Zionist bombing.
“After examination and scrutiny during recent weeks, we have confirmed the martyrdom of a number of our mujahideen and the killing of seven enemy prisoners in the Gaza Strip as a result of the Zionist bombing.”
“We confirm that the number of enemy prisoners who were killed as a result of the military operations of the enemy army in the Gaza Strip may exceed seventy prisoners,” the statement claimed. “We have been keen all along to preserve the lives of the prisoners, but it has become clear that the enemy leadership is deliberately killing its prisoners to get rid of this file.
“At the same time, we affirm that the price we will take in exchange for five or ten living prisoners is the same price we would have taken in exchange for all the prisoners if the enemy’s bombing operations had not killed them.”
The last component of the statement is a reference to the current proposed ceasefire deal, which would begin on the Islamic holiday of Ramadan and see 10 security prisoners released per Israeli hostage.
Videos on the hostages
The three hostages announced dead by Hamas on Friday had all appeared in a video in December, where they pled for their release from captivity.
With his hair fashioned into an Islamic-style, Peri had said “You have to release us from here – it does not matter the cost.”
“We don’t want to be casualties as a direct result of the IDF military airstrikes,” he said.
Hamas had released a video teasing their announcement about the fate of a few of their hostages held in Gaza earlier in the day.
The video, which opened with a question mark, showed the images of three hostages whos identities have not yet been confirmed by the Jerusalem Post. Underneath the images read the test, “What do you think?”
It then proposed three scenarios regarding the fates of the hostages. In the first, all had been killed, in the second some had been killed and others wounded, and in the third, all were still alive.
“Tonight we will inform you of their fate,” the video concluded.
In January, Hamas released a nearly identical video announcing the fates of Yossi Sharabi, Itai Svirsky, and Noa Argamani. The IDF later confirmed the deaths of Sharabi and Svirsky.
About the hostages
Peri had been at his home on Kibbutz Nir Oz with his wife on October 7, when Hamas invaded and murdered over 1200 people.
Peri had prevented his wife’s potential kidnapping or murder by giving himself up while she remained hidden, his son told Reuters.
Cooper and Metzger’s wives had been kidnapped on October 7 but later released as part of a temporary ceasefire deal.
Tovah Lazaroff and Jerusalem Post Staff contributed to this report.
USA/HOUTHIS/
UKRAINE VS RUSSIA/
END
6.Global Issues//COVID ISSUES
COVID ISSUES/VACCINE ISSUES
COVID-19 And Its Vaccines Linked To Sudden Hearing Loss, Considered An ‘Emergency’: Doctor
FRIDAY, MAR 01, 2024 – 03:30 AM
Authored by Marina Zhang via The Epoch Times (emphasis ours),
Dr. Clarice Saba, an otorhinolaryngologist in Brazil, developed sudden hearing loss in her right ear a week after receiving her first dose of the COVID-19 adenovirus vaccine.
“I did all the exams and could not find any other reason other than because of the shots,” she told The Epoch Times.
Several studies have linked sudden hearing loss to the vaccine, with the most comprehensive study coming from France. Four hundred cases of post-vaccine sudden sensorineural hearing loss were evaluated, with 345 medical reports assessed by two audiology experts for potential causality.
“[Sudden sensorineural hearing loss] after COVID-19 mRNA vaccines are very rare adverse events,” the French authors concluded, adding that these rare adverse events “do not call into question the benefits of mRNA vaccines but deserve to be known given the potentially disabling impact of sudden deafness.”
Accumulated Damage
While the cause of hearing loss is unknown, it is usually assumed to be induced by damage to the cochlear, a fluid-filled, spiral cavity in the inner ear that helps process sounds into electrical signals in the brain.
This assumption is based on the fact that cochlear implants, which mimic the work of a natural cochlear, are highly successful in treating hearing loss.
The cochlear is a highly sensitive part of the ear and can accumulate damage from aging, loud sounds, viral infections, and certain chemicals and medications.
These exposures may restrict oxygen to the blood supply of the cochlear, reduce blood flow, increase oxidative damage, or form lesions in the cochlear tissue.
It is not known how COVID-19 and its vaccines may cause hearing loss. Some studies have proposed that the SARS-CoV-2 virus may replicate in the ears and cause damage to the blood vessels and nerves there. Case studies evaluating hearing problems in COVID-19 patients found inflammation of the inner ears, inflamed cochlear and vestibular nerves, and bleeding of the ears.
The COVID-19 mRNA vaccines induce the body to make COVID-19 spike proteins. Research in animal cochlear cells has shown that the spike protein damages the cochlear. Spike proteins also share structural similarities with over 28 human proteins. Therefore, some studies on hearing loss speculate that proteins in the ears, including within the cochlea, may be structurally similar to spike proteins, leading to autoimmune damage when the body mounts its immune response.
The spike proteins in the COVID-19 vaccines are also prone to causing microclotting, where the blood becomes more viscous and “sludge-like,” according to internal medicine physician Dr. Jordan Vaughn. Viscous blood moves more slowly, reducing oxygen exchange in the blood and leading to stress on the nerves and cells in the ears.
Tinnitus and Hearing Loss
Since the pandemic, Dr. Saba has seen a rise in hearing loss and tinnitus.
Tinnitus is a much more common and acknowledged adverse effect of the COVID-19 vaccine than some. A well-known case of vaccine-related tinnitus was reported by vaccinologist Dr. Gregory Poland, who developed the condition after getting his second Pfizer dose.
Tinnitus is also strongly linked to hearing loss.
While most patients with tinnitus may not realize signs of hearing loss, around 80 percent to 90 percent have the issue.
Dr. Saba said that many patients with tinnitus may get a normal hearing result when they undergo an automatic hearing test. However, tests for hearing at high frequencies or audiometric hearing tests would reveal that the person has some degree of hearing loss. Studies have shown that the cochlear is also involved in chronic tinnitus.
Due to the link between tinnitus and hearing loss, she sometimes prescribes the same treatment for both conditions.
Treatments for Hearing Loss and Tinnitus
There is currently no known cure for hearing loss or tinnitus. Internal medicine physician Dr. Keith Berkowitz said that tinnitus arising post-vaccination has been challenging to treat. This observation has been echoed by other clinicians, including Dr. Pierre Kory and nurse practitioner Scott Marsland of the Front Line COVID-19 Critical Care Alliance (FLCCC).
Still, some patients have reported benefits or hearing recovery in response to certain therapeutics.
“Sudden hearing loss is an emergency,” Dr. Saba said. Treatment must be deployed as early as possible to recover hearing.
Dr. Saba’s treatment for sudden hearing loss involves a combination of oral vasodilator drugs and injected steroids.
Vasodilators increase blood flow to the cochlear and are believed to help with its function, though studies have shown conflicting evidence on the benefits of vasodilators in hearing loss.
Steroids reduce inflammation and swelling of the inner ears and have been shown to be helpful if prescribed immediately following hearing loss or the onset of tinnitus.
Dr. Joseph Varon, a pulmonary critical care specialist and professor of medicine at the University of Houston, said that many of his patients found success with tinnitus by wearing red-light therapy earplugs.
Mr. Marsland said that he has been trialing transcranial brain stimulation. This treatment, however, is inaccessible for many patients with insurance, as the stimulation device is currently only approved for depression.
He became interested in the device when one of his patients, with both hearing loss and depression, saw an improvement in hearing while receiving mental health treatment.
Mr. Marsland has also seen mild tinnitus improvement in patients who have been dripping two drops of glutathione and one drop of caster oil in their ears.
Animal studies have shown glutathione to be protective against hearing loss.
END
We warned you not to take the RSV as it was too dangerous. We were right
(zerohedge)
Health Officials Concerned Over Possible RSV Vaccine Link To Rare Neurological Condition
FRIDAY, MAR 01, 2024 – 03:20 PM
“Trust the science,” they told us…
At a time when the largest mRNA Covid vaccine peer-reviewed study recently revealed increases in neurological, blood, and heart-related conditions, along with the pharma-industrial complex unleashing a ‘blitzkrieg’ of vaccine commercials across corporate media outlets, a new report has found that vaccines for respiratory syncytial virus could be causing a rare nervous system disorder in older adults.
The New York Times has reported that new safety data for two RSV vaccines, presented at a meeting of scientific advisers to the Centers for Disease Control and Prevention on Thursday, indicates that Guillain-Barre syndrome – a rare condition where the immune system attacks nerve cells, leading to muscle weakness and paralysis – may have occurred in adults over 60 who received the vaccines. Two vaccines, Pfizer’s Abrysvo and GSK’s Arexvy, are currently available on the market.
Officials said the rare disease that attacks the immune system was found in two cases per 100,000 vaccinated, and added more data is needed to understand the risks.
“At this point, due to the uncertainties and limitations, these early data cannot establish if there is an increased risk for GBS after vaccination in this age group,” Dr. Thomas Shimabukuro, director of the CDC’s Immunization Safety Office, said at the meeting on Thursday.
Dr. Shimabukuro continued: Increased surveillance “will be better able to determine if an increased risk for GBS after RSV vaccination is present, and if so the magnitude of the risk.”
NYTimes pointed out the new safety data was derived from multiple databases maintained by federal health agencies:
“Of 37 preliminary reports in the Vaccine Adverse Event Reporting System, officials verified 23 by medical record review, 15 with Abrysvo and eight after Arexvy, Dr. Shimabukuro said. There were nearly three additional cases of GBS per million doses of Abrysvo than would be expected in the population of older Americans.
“A separate database identified four cases of GBS linked to Arexvy, translating to an estimated 14 cases per million doses administered. That system did not pick up any cases after shots of Abrysvo. But the vaccine accounted for only about 10 percent of the total doses recorded in the database.” -NYTimes
“I will say that these rates are higher than rates that we’ve observed for high-dose influenza and for Shingrix,” Dr. Shimabukuro said.
NYTimes also noted, “Additional data from the Centers for Medicare & Medicaid Services indicated that the incidence of Guillain-Barré syndrome after vaccination with Abrysvo was roughly five times higher than would be expected. The incidence after vaccination with Arexvy was not statistically significant.”
A GSK spokeswoman told the media outlet, “There are limitations to all of these data, and further analysis by FDA, CDC and the vaccine manufacturers are needed to confirm and quantify any potential risk.”
One X user makes a good point.
When the @nytimes says an RSV “vaccine” may “slightly” increase risk of a horrible neurological condition – readers should interpret that to mean definitely will increase the risk. There has been no bigger a shill for Big Pharma’s “vaccines” than NYT – so know your source! $MRNA
·
Another said, “Trust the science.”
“Of course, they begin by saying it’s so “Rare” until it’s not,” another X user said.
Officials investigate rare nervous system disorder in older adults who got RSV vaccine – AP Trust the science
RFK JR – The Vaccine Act was a Gold Rush for Big Pharma- Why are we Giving Babies Hepatitis B Vaccines?
·
64.6K Views https://twitter.com/thehealthb0t/status/1755075406246584746
Perhaps Americans need to look at total health instead of relying on one-shot vaccines pitched as “miracle drugs.”
end
GLOBAL ISSUES
MARK CRISPIN MILLER
DR PAUL ALEXANDER
IMPORTANT!!
COVID sub-variant JN.1 now accounts for 96.4% of the circulating COVID virus; if I am not mistaken, 9th BOOSTER that lunatic CDC Director Mandy Cohen is advising targets XBB.1.5 sub-variant; where is
the evidence that the booster will hit JN.1? Now CDC Director Cohen is calling on ELDERLY to get booster; this ding dong has never heard of ORIGINAL ANTIGENIC SIN (OAS)? Viral immune escape? Immune
| DR. PAUL ALEXANDERMAR 1 |
priming? Immune imprinting or fixation/prejudicing? Does she not know what antibody dependent enhancement of infection (ADEI) or disease (ADED) is? That OAS is and will operate and that the booster will fail as it has before. How could these idiots push a booster spike that will miss the circulating spike? The vaccine-induced antibodies will not hit (mismatch) the circulating spike.
This clearly inept CDC Director who believe or not, makes Rochelle Walensky blush, as the latter appears to be as dumb as a box of nails and have no clue what she is doing since coming on deck, is asking seniors to take a booster for a variant that is basically non-existent…do you understand that? Does the blockhead not understand that this is the very same crap they did with the initial roll-out and it is the worthless ineffective, non-sterilizing non-neutralizing mRNA vaccine that is driving the emergence of sub-variants by placing the circulating dominant variant under ‘non-lethal’ pressure, driving natural selection pressure to select the ‘fittest’ most ‘infectious’ sub-variants to become dominant.
In other words, Mandy has gotten the orders to keep this going for 100 more years for this is exactly what will happen. You the public will never ever get off the booster treadmill unless you tell CDC to take the mRNA vaccines and shove it up their asses, all of them, and shove it up the ass of Bourla, Bancel, Malone, Sahin, Weissman, Kariko etc. These people have us here dealing with this…as they blame each other. They, the mRNA technology inventors and vaccine makers bought worthless mRNA technology and vaccine to us, deceived us, and deadly on top of that, when no vaccine was needed, when it could not even work mechanically (systemic circulatory antibodies e.g. circulatory IgG and IgA) cannot enter the respiratory compartment, nasal mucosa etc.) and the spike is the most deadly portion of the virus as well as the most mutable (mutagenic).
This is doomed to fail and can drive more variants and can kill our seniors.
LIONESS OF JUDAH MINISTRY again over target (By Jim Ferguson) informing us that it is getting HOT in Britain now and Prime Minister Rishi Sunak may need to get some brown pants now given he is about
to soil himself, why? he may face a criminal investigation and face potential criminal charges of the most egregious kind, criminal activity over COVID vaccine contracts etc. is this hype? lets see…
| DR. PAUL ALEXANDERMAR 1 |
Exposing The Darkness
Exposing The Darkness is a reader-supported publication. To support my work, please consider becoming a paid subscriber. One-time or recurring donations can be made through Ko-Fi: By Jim Ferguson Rishi Sunak British Prime Minister may face a criminal investigation and face potential criminal charges of the most egregious kind…
5 days ago · 119 likes · 29 comments · Lioness of Judah Ministry
‘Rishi Sunak British Prime Minister may face a criminal investigation and face potential criminal charges of the most egregious kind.
British MP Andrew Bridgen has written to Mark Rowley Commissioner of the Metropolitan Police and the most senior of Police officers to have a three hour meeting where experts and whistle blowers will lay out the evidence where potential criminal activity has been conducted by the very top of Government and the civil service in the UK.
END
SLAY NEWS
| he latest reports from Slay NewsPathologists Warn ‘Mild Myocarditis’ Causes Sudden Deaths in VaccinatedA group of world-renowned pathologists has just published the results of a peer-reviewed autopsy study that shows sudden deaths among people vaccinated with Covid mRNA shots are being caused by “mild” and undetectable cases of myocarditis.READ MOREJapan in Population Meltdown as Two People Now Dying for Every One BornNew data from the Japanese government shows that Japan’s population is continuing to spiral into an unsustainable meltdown.READ MORENY AG Letitia James Sues World’s Largest Beef Producer for Failing ‘Net Zero’ PledgeNew York’s Democrat Attorney General Letitia James has just filed a lawsuit against JBS USA over claims the company has failed to meet its so-called “Net Zero” pledge.READ MORELondon Play Bans White People from Entering: ‘All-Black Audience’ Will Be ‘Free from White Gaze’A theater in London, England is bringing back racial segregation for two upcoming shows and will strictly limit ticket sales to audience members depending on the color of their skin.READ MORERFK Jr Demands Biden Prove He Has ‘Cognitive Capacity’ to Be PresidentIndependent presidential candidate Robert F. Kennedy Jr. has demanded that Democrat President Joe Biden provide evidence to prove he has the “cognitive capacity” and “mental acuity” to lead the American people.READ MORENikki Haley: Trump Should Not Be ‘Entirely Immune’ from Democrats’ Criminal CasesDemocrat favorite Nikki Haley has declared that President Donald Trump should not be “entirely immune” from the politically motivated criminal cases he is being persecuted with.READ MOREFederal Judge: Pelosi Violated Constitution by Passing $1.7 Trillion Spending Bill in 2022A federal judge has ruled that then-Speaker Nancy Pelosi violated the Constitution when she led the House of Representatives in passing a controversial $1.7 trillion spending bill in 2022.READ MORENathan Wade’s Ex-Associate Terrence Bradley Accused of Lying Under Oath to Hide Relationship with DA Fani WillisFulton County District Attorney Fani Willis and Special Prosecutor Nathan Wade lied under oath about when their romantic relationship began.READ MORE‘Conservative’ U.S Senate Candidate Blocked from Indiana GOP Primary Ballot after Being Exposed as DemocratOfficials in Indiana have blocked United States Senate candidate John Rust from appearing on the Republican primary ballot after he was exposed as a longtime Democrat.READ MORELeo Terrell Responds to Mitch McConnell Stepping Down: ‘Good Riddance’Civil rights attorney Leo Terrell has responded to the announcement that Sen. Mitch McConnell (R-KY) will be stepping down as Senate Republican leader in November.READ MOREAOC Defends Hunter Biden amid Impeachment Inquiry Testimony: ‘Abuse of Public Power’Radical Democrat Rep. Alexandria Ocasio-Cortez (D-NY) took part in a publicity stunt for the corporate media where she accused House Republicans of an “abuse of public power” for calling Hunter Biden to testify.READ MOREHunter Biden Testifies He ‘Did Not Involve’ Dad in Family Business Deals, Blasts Impeachment Inquiry as ‘Baseless’Hunter Biden testified on Capitol Hill that he “did not involve” his Democrat president father in their family’s shady foreign business deals.READ MOREMitch McConnell Steps Down as Senate GOP LeaderSenate Minority Leader Mitch McConnell (R-KY) is stepping down from his Republican leadership role after a record run in the job, according to reports.READ MORE |
| EVOL NEWS: |
| LATEST NEWS: |
NEWS ADDICT
| LATEST REPORTS FOR NEWS JUNKIES |
| Canada Moves to Criminalize ChristianityCanada’s far-left government is moving to criminalize Christianity, with Bible reading and prayer considered “hate speech” – a “crime” punishable with prison time.READ THE FULL REPORT |
| Secret Docs: Canada Worked with China to Create Covid as ‘Bioweapon’Leaked secret documents have exposed a “clandestine relationship” between Canadian Prime Minister Justin Trudeau’s government and the Chinese Community Party to develop COVID-19 as a “bioweapon” to unleash on humanity.READ THE FULL REPORT |
| Russia Thwarts Assassination Attempt on Tucker CarlsonRussian authorities have reported the arrest of an individual believed to be a potential assassin sent by Ukraine to target Tucker Carlson in Moscow.READ THE FULL REPORT |
| Former Obama Aides Spill the Beans on BidenThe age of President Joe Biden was extensively discussed by three former Obama administration aides, who raised concerns about whether Americans perceive him as too “frail” to serve another term in the White House.READ THE FULL REPORT |
| Father Whose Child Was Killed by Illegal Goes OFF on BidenFollowing the tragic murder of University of Georgia nursing student Laken Riley, reportedly by an illegal immigrant, a growing number of average Americans are starting to realize the severe repercussions of our negligent immigration policies over the years.READ THE FULL REPORT |
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
“This Is A Good As It Gets For Biden”: One Bank Says A Trump Victory Is Now A Base Case
By Elwin de Groot, Head of Macro Strategy at Rabobank
Gramscical world
Rate cuts soon! Rate cuts delayed! A rate hike instead of a cut? As we have been arguing in this Global Daily, we are still in this Gramscical world, where the old is dying, but the new is having difficulties with birth. And this is not just from a geopolitical or geoeconomic perspective.
Illustrative of this was the reaction to US PCE inflation data. Although core PCE inflation was broadly in line with consensus estimates, Bloomberg ran two stories. One read “Bonds Climb After ‘No New Bad News’ on Inflation”. The other, “Fed’s Preferred Inflation Metric Increases by Most in a Year”, underscored that the core PCE data, on a six-month annualized basis, rebounded to 2.5% in January after staying below it in the previous two months. Bear in mind, also, that this figure came after a confusing email by the BLS to a group of ‘super users’ that it later tried to retract. In that message the BLS argued that a surge in the measure of rental inflation – which unexpectedly rose sharply in the January CPI – had been due to a “shift in underlying calculations”, which could either imply that this change was a structural shift in prices/inflation or in fact an error which could be corrected at a later stage.
So the underlying – or should we say most consistent – narrative that fits the latest string of data is that whilst we are still making some progress on the disinflation path when seen from ‘outta space’, things on the ground are getting a bit more wobbly. European inflation data for February pretty much underscored that message. The underlying trend of gradual disinflation, going by the recent data from Spain, Belgium, Germany and France, remains intact, but these reports did not ease concerns over stickiness in core components (see also the day ahead section for more detail).
Not yet knowing whether they’ll become parent to a boy or girl, central banks best hold off on painting the nursery for a little longer. The adverse impact of moving too early is still bigger than the cost of cutting somewhat too late: credibility would take another hit if a resurgence of inflationary pressures forces policymakers to backtrack after a couple of cuts. That’s not just our concern. The European Parliament, who hold the ECB accountable, this week expressed their unease about inflation and the institutions’ credibility.
The ECB has, however, started to furnish the room. Reuters reported that the Governing Council has made some decisions regarding its future operational framework. According to their sources, the ECB intends to operate a ‘demand-driven floor’. In such a framework, the central bank provides as much liquidity as banks ask for, while using the deposit facility rate to steer money markets by setting the lowest rate at which banks are willing to lend to each other. The efficiency of such a framework relies on banks’ willingness to borrow from the ECB. That’s related to the costs of borrowing reserves. So the ECB can improve efficiency by narrowing the spread between the refinancing rate and the deposit rate.
Reuters’ sources suggested that this could “be announced as early as the ECB’s non-policy meeting on March 13.” Yet, the ECB’s own calendar lists no such meeting. We do note that next week’s interest rate decision comes into effect on that date. Could the ECB announce an asynchronous cut to the refinancing rate next Thursday? Given the ample liquidity in the system, this should not meaningfully impact money market rates. Yet, it would pose a huge communication challenge, particularly to a broader audience that does not distinguish between the different policy rates.
China’s manufacturing data this morning were Gramscical as well. Manufacturing activity slipped again in February (official PMI 0.1 point down to 49.1 in February) but services activity picked up somewhat (up 0.7 to 51.4). Are the governments’ interventions in equity markets helping engineer a turnaround in consumer sentiment and spending? Unlikely. The pickup in services was probably driven by lunar holiday travel spending rather than a signal of a broad-based recovery. If manufacturing stays weak while services activity picks up, the bigger risk is perhaps that the policy response will be one that boosts production (and overcapacity) rather than consumption.
This brings us to the last, but certainly not least important topic. Yesterday, the White House issued a statement by President Biden on the national security risks to the US auto industry. “China’s policies could flood our market with its vehicles, posing risks to our national security. I’m not going to let that happen on my watch.”, Biden said. The key concern here is the connectedness and collection of sensitive data by new vehicles and so the Biden administration is launching an investigation into these risks. This is actually a step closer to outright bans on Chinese cars, not tariffs, as suggested by Donald Trump. But the outcome may well be the same.
It also shows that the current White House is acutely aware of the pressure it is under with the elections approaching and the subdued approval ratings for Biden in the polls. Biden may want to take wind out of Trump sails by sounding and acting tough on China. Is he trying to push out a Trump child with Democratic genes?
Our US strategist Philip Marey even thinks that, looking at the growth and employment outlook for the remainder of this year, the current situation for Biden may be as good as it gets. This also implies that – looking at the current polls – one is almost forced to take a Trump victory as base case, even though there is still so much uncertainty.
Given Trump’s first term in office and his recent remarks on trade policy, we should expect a broad rise in import tariffs under a Trump presidency, Philip argues. This could lead to a rebound in inflation, especially in 2025, complicating the Fed’s mission to get inflation back to its 2% target in a sustainable manner. Ceteris paribus, this could reduce the amount of rate cuts that the Fed has in mind for 2025.
No need to argue that this could also have serious global ramifications…
END
7//OIL ISSUES//NATURAL GAS ISSUES//ELECTRICAL GRID ISSUES// RENEWABLE ENERGY ISSUES//USA AND GLOBE//GLOBAL SHIPPING
END
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
CANADA
this is very very troublesome!
(zerohedge0
Trudeau Govt. Virologists Who Transferred Ebola To Wuhan Had “Clandestine Relationship” With Chinese Agents, Bombshell Intel Reveals
FRIDAY, MAR 01, 2024 – 01:25 PM
A cache of documents from Canada’s top intelligence services reveals that Trudeau government virologists had a “clandestine relationship” with Chinese agents, the Counter Signal reports.
Xiangguo Qiu and her husband, Keding Cheng – two scientists at the National Microbiology Laboratory in Winnipeg, Canada were stripped of their security clearances and fired over questions about their loyalty to Canada, as well as the potential for coercion or exploitation by a foreign entity, according to more than 600 pages of documents made public Wednesday.
Highlights (via CTVNews.ca):
- Qiu and Cheng were escorted out of Winnipeg’s National Microbiology Laboratory in July 2019 and subsequently fired in January 2021.
- The pair transferred deadly Ebola and Henipah viruses to China’s Wuhan Institute of Virology in March 2019.
- The Canadian Security Intelligence Service assessed that Qiu repeatedly lied about the extent of her work with institutions of the Chinese government and refused to admit involvement in various Chinese programs, even when evidence was presented to her.
- [D]espite being given every opportunity in her interviews to describe her association with Chinese entities, “Ms. Qiu continued to make blanket denials, feign ignorance or tell outright lies.”
- A November 2020 Public Health Agency of Canada report on Qiu says investigators “weighed the adverse information and are in agreement with the CSIS assessment.”
- A Public Health Agency report on Cheng’s activities says he allowed restricted visitors to work in laboratories unescorted and on at least two occasions did not prevent the unauthorized removal of laboratory materials.
- Cheng was not forthcoming about his activities and collaborations with people from government agencies “of another country, namely members of the People’s Republic of China.”
But wait, it goes much deeper than that… As The Counter Signal reports (subscribe here to support):
Alongside selling deadly pathogens to Chinese authorities at the Wuhan Institute of Virology for just $75, Qui was also found to have hidden a Chinese bank account from CSIS.
“Further to our security assessment […], the Service assesses that Ms. Qiu developed deep, cooperative relationships with a variety of People’s Republic of China (PRC) institutions and has intentionally transferred scientific knowledge and materials to China in order to benefit the PRC Government, and herself, without regard for the implications to her employer or to Canada’s interests.”
“It is clear that Ms. Qiu […] made efforts to conceal her projects with PRC institutions. The Service further assesses that because of her extensive knowledge of the harmful effects of dangerous pathogens on human health, Ms. Qiu should have been aware of the possibility that her efforts to engage clandestinely with the PRC in these research areas could harm Canadian interests or international security.”
“Ms. Qiu repeatedly lied in her security screening interviews about the extent of her work with institutions of the PRC Government and refused to admit to any involvement in various PRC programs, even when documents [REDACTED] were put before her.”
“The Service also assesses that Ms. Qiu was reckless in her dealings with various PRC entities, particularly in her lack of respect for proper scientific protocols regarding the transfer of pathogens and in working with institutions whose goals have potentially lethal military applications that are manifestly not in the interests of Canada or its citizens.”
Qiu was shown to have given China agents direct access to Canada’s National Microbiology Laboratory, a Biosafety Level 4 facility which houses Canada’s most secret and secure pathogenic diseases. These pathogens can be used in weaponry.
“Ms. Qiu also gave access to the [National Microbiology Laboratory] to at least two employees of a PRC institution whose work is not aligned with Canadian interests,” they stated.
Secretly working for Wuhan Lab
CSIS also found that Qui was actively working with the Chinese Wuhan Virology Lab on a project that CSIS redacted and called “Project 1.” This project started January 1, 2019, just three months before she sent a shipment of materials to the Wuhan lab, and the project involved the study of mRNA vaccines.
Project 2 was cited by CSIS as being a “cross-species infection” program that could have been used for Gain-of-Function research into bat viruses.
Read the rest here…
“Under Justin Trudeau’s watch, the PRC and its entities, including the People’s Liberation Army, were allowed to infiltrate Canada’s top level lab. They were able to transfer sensitive intellectual property and dangerous pathogens to the PRC,” reads a statement from Pierre Poilievere, leader of Canada’s Conservative Party.
“Based on its own assessment, the Liberal government allowed a person who is “a very serious and credible danger” and “a realistic and credible threat to Canada’s economic security” to access and compromise our country’s top level lab, which works with some of the world’s most dangerous viruses, such as Ebola.”
“This is a massive national security failure by Justin Trudeau and his Liberal government, which he fought tooth and nail to cover up,” the opposition leader continued.
END
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Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 78.00 PTS OR 0.47%
/SHANGHAI CLOSED UP 11.85 PTS OR 0-.39%
AUSTRALIA BOURSE CLOSED UP 0.60%
(Nikkei (Japan) CLOSED UP 744.63 PTS OR 1.90%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2053.80
silver:$22.71
USA dollar index early FRIDAY morning: 103.98 DOWN 12 BASIS POINTS FROM THURSDAY’s CLOSE.
FRIDAY MORNING NUMBERS ENDS
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And now your closing FRIDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.045% DOWN 0 in basis point(s) yield
JAPANESE BOND YIELD: +0.711% UP 0 AND 7//100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.289 DOWN 0 in basis points yield
ITALIAN 10 YR BOND YIELD 3.860 UP 2 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.4015 DOWN 1 BASIS PTS
END
IMPORTANT CURRENCY CLOSES FOR FRIDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0832 UP 0.0027 or 27 basis points
USA/Japan: 150.15 UP 0.087 OR YEN 9 DOWN BASIS PTS
Great Britain/USA 1.2647 UP .0021 OR 21 BASIS POINTS //
Canadian dollar UP .0019 OR 19 BASIS pts to 1.3550
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The USA/Yuan, CNY: closed ON SHORE CLOSED DOWN AT 7.1968
THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.2102)
TURKISH LIRA: 31.37 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.711…
Your closing 10 yr US bond yield DOWN 6 in basis points from THURSDAY at 4.193% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield 4.339 DOWN 4 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.535 DOWN 11 BASIS PTS.
GOLD AT 10;30 AM 2071.60
SILVER AT 10;30: 22.95
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: FRIDAY CLOSING TIME 12:00 PM//
London: CLOSED UP 56.88 PTS OR 1.75%
German Dax : CLOSED UP 60.21 PTS OR 0.34%
Paris CAC CLOSED UP 3.77 PTS OR 0.05%
Spain IBEX CLOSED UP 58.20 PTS OR 0.58%
Italian MIB: CLOSED UP 340.00 PTS OR .104%
WTI Oil price 80.31 12: EST/
Brent Oil: 83.77 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 91.67; ROUBLE DOWN 0 AND 52//100
GERMAN 10 YR BOND YIELD; +2.4015 DOWN 1 BASIS PTS
UK 10 YR YIELD: 4.134 DOWN 3 BASIS POINTS
CLOSING NUMBERS: 4 PM
Euro vs USA: 1.0835 UP .0030 OR 33 BASIS POINTS
British Pound: 1.2656 UP .0030 or 30 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.1380 DOWN 2 BASIS PTS//
JAPAN 10 YR YIELD: 0.710%
USA dollar vs Japanese Yen: 150.13 UP 0.059//YEN DOWN 6 BASIS PTS//
USA dollar vs Canadian dollar: 1.3560 DOWN .0008 CDN dollar UP 8 basis pts)
West Texas intermediate oil: 79.87
Brent OIL: 83.46
USA 10 yr bond yield DOWN 7 BASIS pts to 4.186%
USA 30 yr bond yield DOWN 4 BASIS PTS to 4.326%
USA 2 YR BOND: DOWN 11 PTS AT 4.537%
USA dollar index: 103.85 DOWN 25 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 31.37 (GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 91.15 UP 0 AND 0/100 roubles
GOLD 2084.75 3:30 PM
SILVER: 23.17 3:30 PM
DOW JONES INDUSTRIAL AVERAGE: UP 90.09 PTS OR 0.23%
NASDAQ UP 259.06 PTS OR 1.44%
VOLATILITY INDEX: 13.24 DOWN 0.16 PTS OR 1.19%
GLD: $192.89 UP 3.58 OR 1.89%
SLV/ $21.17 UP .44 OR 2.12%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
‘Everything’ Rallies On First Day Of March After Fed Hints At Next ‘QE’
BY TYLER DURDEN
FRIDAY, MAR 01, 2024 – 04:00 PM
And ugly data day was brightened up when Fed Governor Waller wrecked the wall of worry.
ISM Manufacturing was a shitshow (in contraction for 15 straight months), Construction spending unexpectedly declined (first MoM drop since Dec 2022), UMich confidence declined (and inflation exp ticked higher) – all of which dragged US Macro surprise index back near neutral…
Source: Bloomberg
And although ‘bad news is good news’, it was Waller’s remarks that prompted the market’s “everything is awesome” response as he hinted that The Fed would unveil a new QE ‘Reverse Twist’ for its balance-sheet (buying short-term Treasuries and dumping Agency MBS).
Of course, as we detailed earlier, the timing of Waller’s comments are convenient too as shifting The Fed’s holdings towards Bills perfectly complement’s The Treasury’s recently stated expectation that their Bill-share will rise above their prior 20% guideline.
In other words: Treasury is going to issue more bills, and Fed will buy more of them as well.
Waller’s comments come as Dallas Fed chief Lorie Logan reiterated it’ll likely be appropriate to start slowing the pace at which it shrinks its balance sheet.
And Waller’s comments come right on cue as The Fed’s reverse repo facility saw a simply stunning $128BN of liquidity sucked out of it over the last two days (a 22% drop) across month-end…
Source: Bloomberg
We warned four days ago this was coming…
Big drop on deck for Reverse repo this week: $400bn in play
·
226.8K Views
Leaving the Ides of March in play for a liquidity crisis…
Source: Bloomberg
So – Unleash the dollars…
And just like – everything was higher…
Stocks went vertical, gold soared, Treasury yields plunged (and the yield curve steepened… in a good way), oil ramped up too (and so did crypto, even after the week it had).
Small Caps led the face-ripping melt-up on the week (with Nasdaq’s big day today pulling it to a 2% gain on the week). The S&P managed gains on the week (thanks to today’s meltup), but The Dow ended the week marginally lower…
NVDA officially closed above $2TN market cap today. For context, in Oct 2022, the company was worth $280BN…
Source: Bloomberg
Interestingly, while the last few months have seen ‘Vol Up, Spot Up’ in Nasdaq as traders chase the market with levered bets, the last week has seen vols decline as stocks soared (implying less of a FOMO chasefest)…
Source: Bloomberg
But… demand for downside protection is still non-existent as skews test record lows once again…
Source: Bloomberg
Bonds were aggressively bid today, led by the short-end (2Y -9bps, 30Y -5bps), dragging all yields lower on the week (again led by the short-end)…
Source: Bloomberg
And that bull-steepened the yield curve…
Source: Bloomberg
Crypto had a giant week with huge inflows to BTC ETFs…
Source: Bloomberg
Bitcoin roared up to just shy of $64,000 this week…
Source: Bloomberg
Ethereum also spiked, all the way above $3500 this week…
Source: Bloomberg
The dollar tumbled today after Waller but ended the week unch…
Source: Bloomberg
Gold soared up near end-Dec highs…
Source: Bloomberg
Oil prices also spiked today, breaking out to their highest close since Nov 6th…
Source: Bloomberg
Finally, are these the vinegar strokes (Google it) of the melt-up-rally-top?
Source: Bloomberg
Will the March FOMC meeting be used to introduce the public to NOT-QE “Reverse Twist”, because the first rule of Fed QE-club is you never mention QE.
MORNING TRADING;;GOLD
Gold & Bonds Soar As Fed’s Waller Hints At QE Reverse-Twist
FRIDAY, MAR 01, 2024 – 11:33 AM
Shortly after a disappointing ISM Manufacturing report (which started yields falling), Fed Governor Christopher Waller (quietly) dropped quite a bombshell on markets for those that were paying attention.
Specifically remarking on a Fed paper “Quantitative Tightening around the Globe: What Have We Learned?”, Waller told the 2024 U.S. Monetary Policy Forum in New York that he would like to see two key developments in the Fed’s portfolio:
“First, I would like to see the Fed’s agency MBS holdings go to zero. Agency MBS holdings have been slow to run off the portfolio, at a recent monthly average of about $15 billion, because the underlying mortgages have very low interest rates and prepayments are quite small. I believe it is important to see a continued reduction in these holdings.
Second, I would like to see a shift in Treasury holdings toward a larger share of shorter-dated Treasury securities. Prior to the Global Financial Crisis, we held approximately one-third of our portfolio in Treasury bills. Today, bills are less than 5 percent of our Treasury holdings and less than 3 percent of our total securities holdings. Moving toward more Treasury bills would shift the maturity structure more toward our policy rate – the overnight federal funds rate – and allow our income and expenses to rise and fall together as the FOMC increases and cuts the target range. This approach could also assist a future asset purchase program because we could let the short-term securities roll off the portfolio and not increase the balance sheet. This is an issue the FOMC will need to decide in the next couple of years.”
Translation: Waller is hinting at a QE Reverse-Twist which will lower short-term yields and steepen the yield curve.
His comments come as Dallas Fed chief Lorie Logan reiterated it’ll likely be appropriate to start slowing the pace at which it shrinks its balance sheet.
All of which is promptly timed just as the pace of RRP erosion is set to accelerate after month-end malarkey and The Fed’s BTFP facility is set to expire.
As one would expect this sent yields lower (especially in the short-end)…
Source: Bloomberg
…bull-steepening the yield curve…
Source: Bloomberg
And perhaps more notably, gold is accelerating higher…
Source: Bloomberg
So will The Fed start QE Reverse-Twist… and hike rates to tamp down a resurgent inflation thanks to animal spirits 2.0 prompted by their prior pivot?
AFTERNOON TRADING/
II USA DATA
Democrats Lost Faith In February As UMich Inflation Indicator Ticked Up
FRIDAY, MAR 01, 2024 – 10:40 AM
Democrats’ consumer confidence tumbled in February, falling 7.1 pts (from 101.7 to 94.6) – the most since June 2022. At the same time, Republicans’ confidence rose to its highest since July 2021…
Source: Bloomberg
Maybe their confidence was shattered by Biden’s polling numbers… or the start of a loss of faith that The Fed has won (as the short-term inflation expectations ticked up to 3.0%)…
Source: Bloomberg
US consumer sentiment fell in February for the first time in three months as current and expected views of the economy deteriorated.
The sentiment index declined to 76.9 from 79 in January (lower than all estimates). The current conditions gauge fell last month to 79.4 and a measure of expectations dropped to 75.2 from January.
Source: Bloomberg
Buying conditions for durable goods eased, as did consumers’ expectations for their personal finances.
“Consumers perceived few changes in the state of the economy since the start of the new year, and they appear to be assured that inflation will continue on a favorable trajectory,” said JoanneHsu, Director.
“Sentiment is currently 8 points shy of the historical average since 1978.”
Finally, despite of continued strength in many stock market indicators, stock owners reported declines in sentiment, while for non-owners sentiment rose 5%.
END
US. manufacturers contract again in February, ISM finds, but business seen picking up
March 1, 2024 at 10:02 a.m. ET
MarketWatchISM manufacturing index backslides to 47.8%
The numbers: A barometer of business conditions at American manufacturers fell again in February as orders declined and more workers were laid off, but executives said there were preparing for expansion later in the year.
The Institute for Supply Management’s index of manufacturers dropped to a two-month low of 47.8% in February from 49.1% in the prior month.
Economists polled by the Wall Street Journal had predicted an ISM reading of 49.5%.
Numbers below 50% are viewed as negative for the industrial side of the economy.
Big picture: Manufacturers have endured their worst performance since the Great Recession of 2007-2009, with the ISM index in contractionary territory for 16 months in a row.
Yet the economy has kept growing despite higher interest rates and the prospect of the Federal Reserve reducing borrowing costs later in the year offers fresh hope of a recovery in manufacturing.
“Demand is at the early stages of recovery,” said Timothy Fiore, chairman of the survey, “as panelists’ companies begin to prepare for expansion.”
Key details:
The production gauge slid 2 points to 48.4%.
The new-orders index dropped 3.3 points to 49.2%.
The employment barometer slipped 1.2 points to 45.9%, making the lowest level since last summer.
The prices-paid index, a measure of inflation, dipped 0.4 points to 52.5%.
Looking ahead: “The first quarter will be slower due to some customer order changes, but we are expecting the rest of 2024 to be strong,” a senior transportation executive told ISM. “We may increase our growth projections.”
“We are experiencing increased sales, which is putting pressure on the plant and assembly to meet new customer demand,” said an executive at a maker of electrical products
TUCKER CARLSON….
III USA ECONOMIC COMMENTARIES
“We Can’t Wait”: Speaker Johnson Demands Action On Border During ‘Intense’ Meeting
THURSDAY, FEB 29, 2024 – 11:05 PM
Authored by Katabella Roberts via The Epoch Times (emphasis ours),
House Speaker Mike Johnson (R-La.) has described reports that he was confronted by congressional leaders during an “intense” meeting over government funding and aid to Ukraine at the White House on Feb. 27 as “pretty accurate.”
Speaking to Fox News on Feb. 28, Mr. Johnson was asked by anchor Sean Hannity if there was any truth to the reports. The Republican lawmaker explained that he was definitely at odds with congressional leaders over the crisis at the southern border, among other issues, during the meeting.
“Well, their reports are pretty accurate. They said that I was on an island by myself, and it was me versus everyone else in the room,” Mr. Johnson said.
“What the liberal media doesn’t understand Sean, is that if you’re here in Washington and you’re described as a leader that’s on an island by themselves, it probably means you’re standing with the American people,” he continued.
“And that’s what I did yesterday, I reminded the president, and all involved, that the number one issue in America is that open border. The catastrophe that we have, that President Biden himself designed, that he caused and created and I told him, just as I have many times before, he must address it with executive authority. We can’t wait any longer,” Mr. Johnson added.
Mr. Johnson was joined by congressional leaders including Senate Majority Leader Chuck Schumer (D-N.Y.), Senate Minority Leader Mitch McConnell (R-Ky.), and House Minority Leader Hakeem Jeffries (D-N.Y.) during the Feb. 27 meeting with President Biden and Vice President Harris at the White House, ahead of a looming government shut down.
Officials also discussed potential funding for Ukraine during the meeting, with the White House having repeatedly urged Congress in recent weeks to pass a $95 billion foreign aid package, which includes $60 billion for Ukraine, $14.1 billion for Israel, and around $9.2 billion for humanitarian assistance in Gaza.
While the package was approved by the Senate earlier this month, it has been stalled in the House by Republicans who are at odds over its lack of U.S. border security provisions and the additional funding for Ukraine.
Lawmakers who attended the White House meeting, including Mr. Jeffries, later described it as “intense” while Mr. Schumer told reporters that he and all other attendees, had repeatedly pressed Mr. Johnson on Ukraine aid.
“The meeting on Ukraine was one of the most intense I’ve ever encountered in my many meetings in the Oval Office,” Mr. Schumer told reporters.
Ultimately, lawmakers were able to strike a deal in principle and avert a partial government shutdown set to take place at the end of this week, although another continuing resolution to fund the government at current levels will need to be passed under the deal announced on Feb. 28.
Parts of the government would be funded through March 8 while the remaining would be funded through March 22, according to congressional leaders. A final text is widely expected to be available by the weekend.
Congress Must ‘Break the Cycle’
Meanwhile, a deal on extra aid to Ukraine and other nations remains at a stalemate.
Mr. Johnson told Fox News it is essential that Congress “breaks the cycle” in the way Washington works and “reform budgeting and spending” going forward.
The House Speaker also stressed that Republicans will not give up the fight to ensure President Biden secures America’s borders.
“The president has the executive authority to fix it right now, I told him at the White House yesterday one-on-one and in the group, I told him ‘Mr President, if you just issue an executive order that reinstates the Remain in Mexico [policy] … the agents, your own border patrol agents, told us it would reduce the flow by 70 percent, almost overnight,’” Mr. Johnson said.
The House Speaker stressed the border crisis is a key issue for lawmakers, citing a rise in violent crime and murders, including the recent killing of university nursing student Laken Riley, allegedly at the hands of illegal immigrant Jose Antonio Ibarra.
“There’s no question about it, this is a very dangerous time … America can’t stand for this any longer,” Mr. Johnson said.
Jackson Richman contributed to this report.
END
Pentagon Chief: If Ukraine Is Defeated, NATO Will Be At War With Russia
THURSDAY, FEB 29, 2024 – 10:45 PM
This is the single most important, dangerous and highly revealing statement from a top defense official in the West in a long time… It also demonstrates the precarious urgency of the moment and the huge stakes going into the November US election. The world truly stands on the precipice of a nuclear nightmare with the following fresh assertion of Biden’s Secretary of Defense Lloyd Austin, who said before Congress on Thursday:
“If Ukraine falls, I really believe that NATO will be in a fight with Russia,” Austin stated.
What’s more is that this came the very day that Russian President Vladimir Putin warned things could easily spiral toward nuclear war in the scenario that NATO sends troops to Ukraine. Watch:
According to the fuller context of the Pentagon chief’s statements, he emphasized that more Washington funding is crucial for Ukraine in order to prevent a situation where “one country can redraw its neighbors’ boundaries and illegitimately take over its sovereign territory.”
“We know that if Putin is successful here, he will not stop. He will continue to take more aggressive actions in the region. And other leaders around the world, other autocrats around the world will look at this and will be encouraged by the fact that this happened and we failed to support a democracy,” he added.
“If you are a Baltic state, you are really worried about whether you are next. They know Putin. They know what he is capable of. And, frankly, if Ukraine falls, I really believe that NATO will be in a fight with Russia,” Austin said.
What is even more alarming about this statement is that everyone now knows that Ukraine forces are in retreat at this very moment, especially after the Russian capture of the city of Avdiivka, and surrounding villages.
Bloomberg on Thursday issued a report predicting total collapse of the Ukrainian front lines by summer, as the headline suggests (Ukraine Sees Risk of Russia Breaking Through Defenses by Summer): “Ukrainian officials are concerned that Russian advances could gain significant momentum by the summer unless their allies can increase the supply of ammunition, according to a person familiar with their analysis,” the report says. According to more from Bloomberg:
Internal assessments of the situation on the battlefield from Kyiv are growing increasingly bleak as Ukrainian forces struggle to hold off Russian attacks while rationing the number of shells they can fire.
Commander-in-Chief Oleksandr Syrskyi said Thursday that mistakes by frontline commanders had compounded the problems facing Ukraine’s defenses around Avdiivka, which was captured by Russian forces this month. Syrskyi said he’d sent in more troops and ammunition to bolster Ukrainian positions.
So the consensus narrative and belated mainstream media admission is that Ukraine’s military is a mere months away from clear defeat, and the top US defense chief just said NATO will go to war with Russia “if Ukraine falls”.
The conflict has reached a dire and perilously unpredictable moment indeed, and clearly the already slim chances of jump-starting serious peace negotiations to end the war are slipping away fast.
end
New York rents continue to spike higher as the city welcomes endless line of illegals
(zerohedge0
NYC Housing Rents Spike As Democrats Welcome Endless Line Of Illegals
New Yorkers are grappling with skyrocketing housing rents despite rents across the nation slowing, if not reversing, in some cases. A lack of affordable housing is driving shelter costs higher in the progressive metro area plagued with elevated living costs, a migrant crisis, and a worsening violent crime wave.
With new data from the rental site Zudmper indicating that one-bedroom rentals in NYC surged 18% in February to a record high of $4,200, it’s puzzling to consider who would choose to live there. Additionally, even median rents in Jersey City, located across the Hudson River from Manhattan, rose 5.4% to $3,140.
Meanwhile, rents across the country have decreased by .7% this month compared to last year, primarily due to a surge in the construction of new rental units. February represented the fifth straight month of flat or declining year-over-year rent changes nationwide. Yet, this trend of cooling rental prices does not apply to NYC, where a housing shortage continues.
Perhaps the housing shortage in NYC has been made worse by the surge of 200,000 illegals bussed into the metro area from the open southern border in the last 18 months.
Ahead of the November elections, Democrats have stuffed the illegals in schools, hotels, and community centers and have even wanted to give them debit cards pre-loaded with tax-payer funds. One can only assume that the government placing these migrants into apartments across the city will only make the housing affordability crisis worse.
Given all this, who in their right mind would want to live in a city with record-high shelter costs and out-of-control crime?
Canada has hope
I encourage you to read this article because it is relevant globally.
As to my friends in Canada I do wish you a smooth sailing through what is a most turbulent storm that will last the next 8 years. Thankfully you will make it through. And perhaps realize the promise Canada has, so abused by hapless politicians denying the prosperity that could have been.
Perhaps this is indeed a global trend. The current mindless Neocons in America have firm control of the rudder driving Europe to War under the mistaken notion that only Europe will suffer in a war with Russia. Allowing a new era of US hegemony and prosperity to be harvested at Europe’s expense. They are too blind in a quest for hegemonic dominance against Russia and China. They will lose on all fronts. War will hollow out both Europe and America allowing China the mantle to lead by errors in judgment.
The Arab world is making its move now held up by by oil wealth in cash at a time when Russia is limited in external investments and China wrestles with a collapsing real estate market. While the West blindly spends like a drunken sailor oblivious to the fact that each coin spent is one that is borrowed with an understanding how to ever pay it back.
The times are changing and it is apparent that there politicians who see.
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM…
END
END
FREIGHT ISSUES/USA
END
VICTOR DAVIS HANSON
END
SWAMP STORIES
Hunter Finally Admits Joe Biden Is “The Big Guy”
THURSDAY, FEB 29, 2024 – 06:05 PM
Hunter Biden on Wednesday testified to Congress that his father, Joe, was indeed “the big guy” referenced in an email pertaining to a business deal with a Chinese state-linked energy company that made the Biden family and friends millions of dollars. He denied, however, that Joe Biden ever received a 10% stake as was indicated in the text message.
“At one point, we asked Hunter about the 10% for the ‘big guy,’” Rep. Marjorie Taylor Greene (R-GA) told Breitbart News following the first son’s six-hour, closed-door deposition.
“We showed him the email … And he said, ‘Oh, that was after my father left office.’” she told the outlet.
Hunter then tried to downplay the 10% idea:
What’s wrong with having a pie-in-the-sky idea? When he [Joe Biden] left office in 2017, it thought he was done. I had no idea was gonna run for president. What’s wrong with just some pie?’ … thinking that he [Joe Biden] could be in the business. –Breitbart
Greene said that Hunter insisted that “there was no percentage for my father in the business,” and that the 20 speakerphone calls Joe Biden joined was considered normal.
“He was saying it’s totally normal for your parents to call you,” said Greene. “He just totally kept on saying, ‘Oh, this is normal. This is normal.'”
Greene also confirmed Rep. Matt Gaetz’s (R-KY) statement that Hunter testified he joined the board of Burisma Holdings to counter Russian aggression. “He said he was picked to serve on Burisma ‘s board to defend democracy and Burisma was stopping Russian aggression,” Greene said.
Hunter’s stated purpose for joining Burisma’s board is a new claim that indicates bizarre reasoning never before revealed.
In 2015, Burisma was under suspicion of money laundering and public corruption. Prosecutor Victor Shokin investigated the case before his termination due to pressure from then-Vice President Joe Biden, who threatened to withhold $1 billion in U.S. aid from Ukraine if the Ukrainian government did not fire the prosecutor investigating Burisma.
Joe Biden later bragged about the firing during a 2018 appearance at the Council on Foreign Relations. –Breitbart
According to Greene, Republicans need to “get ready” for Democrats to fabricate another Russian disinformation hoax related to Hunter and the 2024 election – and that it would likely fit the media’s existing narrative against both Trump and protecting the Biden family.
“I have a prediction that they’re gonna move it on to members of Congress like me and others, Jim Jordan, Jamie Comer, any of us that got hot and heavy on this Ukraine Burisma stuff, that they’re somehow going to say that Republicans are Russian sympathizers. They’re gonna call me that anyway, because I won’t fund the Ukraine war. They’re probably going to accuse us of being Russian sympathizers and falling for Russian disinformation and its election meddling. And then Democratic members of Congress here already saying they will not certify Trump’s election if he wins.” -MTG
“It was there’s a really weird theme in there with the whole Russian thing,” said Greene.
In November, the House Oversight Committee revealed that President Biden received $40,000 in Chinese funds which were “laundered” through his brother, James Biden, in a “complicated financial transaction” marked as a ‘loan,’ which took place just weeks after Hunter Biden threatened the Chinese with his father’s wrath in a July 30, 2017 text message to a CEFC China Energy employee.
The alleged 2017 transfer from first brother James Biden to the future president involves the same business deal in which Joe Biden was called the “big guy” and penciled in for a 10% cut — and would be the first proven instance of the commander-in-chief getting a piece of his family’s foreign income.
…
The money ended up in Joe Biden’s bank account on Sept. 3, 2017, via a check labeled “loan repayment” from his younger brother, who partnered with Hunter in the venture. -NY Post
“Remember when Joe Biden told the American people that his son didn’t make money in China?” asked Oversight Committee Chairman James Comer (R-KY) in a video posted to X. ““Well, not only did he lie about his son Hunter making money in China, but it also turns out that $40,000 in laundered China money landed in Joe Biden’s bank account in the form of a personal check.”
https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-
This of course came on the heels of another “loan” repayment from James to Joe for $200,000.
The aristocrats!
END
Trump And Jack Smith Request Competing Trial Dates In Classified Documents Case
FRIDAY, MAR 01, 2024 – 10:50 AM
Authored by Caden Pearsen via The Epoch Times,
Former President Donald Trump and Special Counsel Jack Smith filed motions on Thursday, asking the court for different trial dates in the classified documents criminal case in Florida.
Mr. Smith’s motion, filed on Thursday evening, requested a new trial date of July 8 and proposed a schedule for going forward that includes monthly status conferences so the court can ensure deadlines are being met.
“Attached to this pleading is the government’s proposed schedule for going forward, culminating in a new trial date of July 8, 2024,” Mr. Smith’s filing reads.
In a separate filing earlier that day, attorneys for the former president requested that the trial be preferably delayed until after the 2024 election or, alternatively, be held on Aug. 12.
“As the leading candidate in the 2024 election, President Trump strongly asserts that a fair trial cannot be conducted this year in a manner consistent with the Constitution,” the filing by his attorneys reads.
President Trump’s attorneys argued that the 6th Amendment affords him the right to be present and to participate in the legal proceedings, while at the same time, the 1st Amendment affords him—and the American people—the right to engage in his campaign speech-making.
U.S. District Judge Aileen Cannon of the Southern District of Florida has said she may delay the trial. She will hold a hearing on Friday to discuss the scheduling of the trial, which is currently set for May.
President Trump is accused of violating the Espionage Act through unauthorized possession of national defense information, as well as conspiring to obstruct justice and making false statements.
Mr. Smith’s proposed schedule does not specify a date for both parties to respond with their positions on the draft jury questionnaire that they jointly submitted to the court on Wednesday.
The questionnaire is intended for potential jurors in the ongoing case. There were disagreements on a few questions, and the list has not yet been released to the public. While the prosecutors have requested that it be kept under seal until after the jury selection process, the defendants have argued that it should be made publicly available.
“The Court will be in a better position to assess the timing of the former after reviewing the parties’ joint filing from February 28. The Court can then set briefing on the questionnaire concurrently with one of the other briefing schedules in the Government’s attachment,” Mr. Smith’s filing reads.
Mr. Smith’s proposed trial date would start the trial just days before the Republican National Convention, which is set to take place from July 15 to 18 in Milwaukee.
President Trump’s attorneys, citing his status as the presumptive GOP presidential nominee and chief political rival to incumbent President Joe Biden, argued that holding the trial this year would violate the Department of Justice’s Justice Manual.
The Justice Manual prohibits federal prosecutors and agents from timing actions for the purpose of affecting an election.
In arguing to postpone the trial, President Trump’s attorneys cited the Justice Manual, referencing a 2020 letter from Deputy Special Counsel J.P. Cooney to then-Attorney General William Barr. The letter invoked the DOJ’s “longstanding policy of non-interference in elections,” which Mr. Cooney noted had been in place for “decades” and had “protected the institution from the appearance of political partisanship.”
The requests for competing trial dates come one day after the Supreme Court decided to review the question of whether presidential immunity applies to a different federal criminal case related to his efforts to challenge the 2020 election results.
The trial in that case was scheduled to begin on March 4 in Washington, D.C., but has been put on hold until the Supreme Court decides on the matter. The decision is expected to be made in mid-June.
KING REPORT//
| The King Report March 1, 2024 Issue 7191 | Independent View of the News |
| Fed’s Preferred Inflation Metric Increases by Most in a Year – BBGCore PCE gauge climbed 0.4% in January and 2.8% from year agoSpending declined, restrained by weaker outlays for goods January Core PCE, though elevated, was as expected. The PCE Deflator for January was also the expected 0.3% m/m & 2.4% y/y. Jobless Claims are 215k, 210k expected; Continuing Claims jumped to 1.905m from 1.86m, 1.875m was consensus. ZH: Services inflation ex-Shelter (Powell’s favored gauge), and the PCE-equivalent actually ticked up on a YoY basis to 3.45%, thanks to a large 0.6% MoM jump – the biggest MoM rise since Dec 2021. https://www.zerohedge.com/markets/pce @GordonJohnson19: Super core PCE inflation EXPLODED higher on a MoM basis to +0.596%, or basically the HIGHEST EVER (showing the @federalreserve is NO WHERE NEAR restrictive, & NO WHERE near its goal of +2%). Yet, the Fed is talking rate cuts, and the market is cheering today’s inflation data? (Chart of subcomponents) https://twitter.com/GordonJohnson19/status/1763205161097248796 BLS Tries to End Confusion Over CPI Data After Email Stirs Drama – BBG A Tuesday email to data “super users,” seen by Bloomberg, suggested a surge in a measure of rental inflation — which had left analysts puzzled — was due to a shift in underlying calculations, rather than just a rise in prices. One recipient said the Bureau of Labor Statistics tried to retract it and told them to disregard its contents… Text of BLS email: Super Users, Good afternoon. The weights for single family detached homes increased materially from December 2023 to January 2024. All of you searching for the source of the divergence have found it. No additional information related to this question will be disseminated. We do not do diagnostic analysis of microdata… https://www.bnnbloomberg.ca/us-labor-department-sows-confusion-with-email-on-consumer-prices-1.2040655 Biden’s Labor Department Sparks Confusion with Email “Explaining” January CPI Spike There is another reason why the Fed needs to cut: if it does not the odds of the market maintaining its upward glidepath into the November election, not to mention the so-called “strength” Bidenomics, are as dead as the dodo. In other words, the real shock is not that inflation printed high – everyone knows how high prices are and in which direction they are moving – it is that Biden’s Department of Labor Statistics admitted to this fact. So, two weeks later, the BLS has realized precisely the error that it made, and as Bloomberg reported today, the US Labor Department’s statistical agency “sowed confusion” on Wall Street this week with an email about a key factor behind the jump in January’s CPI index. A Tuesday email to a group of data “super users”, seen by Bloomberg, suggested a surge in a measure of rental inflation — which left analysts puzzled — was caused by an adjustment to how subcomponents of the index are weighted… https://www.zerohedge.com/markets/bidens-labor-department-sparks-confusion-email-explaining-january-cpi-spike The BLS announced a while ago that there would be a change in CPI subcomponents weightings. So, the urgent email to assuage inflation angst is a blatant appeal to the Street and the Fed to ignore Jan CPI. The February Chicago PMI showed stagflation (AKA Bidenomics), a common characteristic of socialism. The gauge fell to 44 from 46, 48 was consensus. “Prices Paid rose at a faster pace…” Pending Home Sales sank 4.9% m/m & 6.8% y/y in January; +1.5% m/m & -4.4% y/y were expected. BOJ policymaker calls for overhaul of ultra-loose monetary policyBOJ must take flexible response towards stimulus exit – Takata (BoJ Board Member)Takata signals end to negative rates and YCCJapan finally seeing prospects of hitting price goal – TakataMany analysts expect BOJ to end negative rates by Aprilhttps://www.reuters.com/business/finance/bojs-takata-calls-overhaul-ultra-loose-monetary-policy-2024-02-29/ @Scutty: Japan 2Y JGB yields trading at 2011 highs. NIRP to be abandoned in March? Won’t get much better macro better conditions than these in 2024, so the @Bank_of_Japan_e should crack on with it https://twitter.com/Scutty/status/1763072720122925511?s=02 Office Tower Deal for $1 Reveals Anxiety Among Longtime Buyers – BBG Largest Canadian pension takes steps to limit office exposure Fund’s discounted sales may have ripple effects in the market Canada Pension Plan Investment Board has done three deals at discounted prices, selling its interests in a pair of Vancouver towers, a business park in Southern California and a redevelopment project in Manhattan, with the New York stake offloaded for the eyebrow-raising price of just $1… https://www.pionline.com/alternatives/cppib-selling-office-tower-stake-1-reveals-anxiety-among-longtime-buyers “Who Could Be Next”: Top Canadian Pension Fund Sells Manhattan Office Tower For $1, Sparking Firesale Panic https://www.zerohedge.com/markets/who-could-be-next-largest-canadian-pension-fund-sells-manhattan-office-tower-1 Team Obama-Biden leftists on the Fed tried to mitigate the ugly PCE data and other disappointing economic news that appeared on Thursday. Yes Virginia, the Fed is uber political these days! (Chgo Fed’s) Goolsbee: Should Be Careful Extrapolating Jan. PCE Data Forward – BBG 11:18 ET (Atlanta Fed Pres) Bostic Says Like to Begin Easing in Summer – MNI 11:18 ET Goolsbee: May See More Disinflation from Normalizing Supply Chains – BBG 11:22 Et Fed’s Goolsbee: What I’m Watching the Most Is Why Hasn’t Housing Inflation Improved More That It Has – 11:31 ET Bostic: Wage Growth Outpacing Inflation, Like to Continue – BBG 11:49 ET Bostic: Don’t Think Supercore Inflation Is Driven by Wages – BBG 11:51 ET (SF Fed Pres) Daly: We Have Policy in Good Place, Can Cut if Needed – BBG 12:35 ET Daly: There Is No Imminent Risk of the Economy Faltering – BBG 12:35 ET Daly: If We Cut Too Quickly, Inflation Can Get Stuck – BBG 12:35 ET Fed’s Daly Says Officials ‘Ready’ to Cut When Data Demands It – BBG 12:35 ET Fed’s Daly: Want to Avoid Holding Rates All the Way to 2% Inflation TWT – 12:39 ET Historically, the Fed does NOT cut interest rates within 6 months of a general election unless there is a systemic problem or severe recession. Any rate cut action beyond May, barring a systemic problem, is blatant election interference. The NY Fang+ Index tumbled due to the 25% decline in Snowflake. However, the Nasdaq 100 rallied sharply due to manic buying in semiconductor stocks. Yes, Virginia, this is an anomalous event. ESHs, once again, traded mostly negative during Asian trading. After a rally that turned ESHs positive near 23:00 ET, ESHs broke lower after the 1 ET Nikkei close. The decline accelerated after the 2 ET Chinese close. ESHs hit a daily low of 5060.00 nine minutes after the 3 ET European opening. After a modest bounce, ESHs traded sideways, in a 9-handle range, until they soared after the PCE data was released. The manic relief rally pushed ESHs to a daily high of 5105.00 at 9:31 ET. The dump commenced on the NYSE opening; ESHs sank to 5070.00 by 11:37 ET. A Noon Balloon transitioned into an early afternoon rally and took ESHs to 5095.75 at 13:30 ET. ESHs then inched higher in lackluster action as traders awaited earnest February performance gaming. After the 14:15 ET VIX Fix, ESHs jumped higher because the House passed a CR to keep the government open on a 320 to 99 vote. The rally quickly ended. After a 10-handle decline, the usual suspects commenced February performance gaming at 15:00 ET. ESHs soared to 5114.50 at 15:58 ET. But aggressive selling then appeared; ESHs tumbled to 5093.0 at 16:00 ET. Positive aspects of previous session The DJTA rallied sharply; Bonds rallied moderately Manic semiconductor buying, on AI fervor/performance gaming, boosted the Naz 100 and Nasdaq February performance gaming generated a robust rally Negative aspects of previous session The NY Fang+ Index declined sharply due to Snowflake Gasoline and oil rebounded after sharp declines on Wed. due to inventory builds Ambiguous aspects of previous session Stocks are tired; how much higher will the rally go? 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]: 5087.72 Previous session S&P 500 Index High/Low: 5104.99; 5061.89 @elonmusk: Dams are bursting all over the country. America is only 4% of Earth’s population. If only 1% of the rest of Earth moves here, that would crush all essential services. I am ringing the alarm bell because the flood of illegals is crushing the country! @TheBabylonBee: Biden Arrives at Border to Address His Voters https://buff.ly/3TepziC @TheBabylonBee: Ballot Drop Boxes Installed Along Border Wall https://buff.ly/42XDQDC @HouseGOP: Joe Biden, who is 81 years old and refuses to take a cognitive test, can be seen clutching onto his step-by-step itinerary and talking points for dear life during his photo-op visit to the Southern Border. https://twitter.com/HouseGOP/status/1763304878951031284 The Biden White House is now referring to illegal immigrants as “newcomers.” Joe Biden is not serious about stopping the illegal immigration into the United States. This is a catastrophe by design. https://twitter.com/HouseGOP/status/1763267806433268182 Fed Balance Sheet: -$13.876B with MBS -$10.985B; Reserves at Fed: +$1.553B Today – Traders will play for the Friday and start-of-the-month rallies. Stocks are very tired and are historically overbought. The rotation from Fangs into cyber indicates equity exhaustion. AI-related stocks bounced on performance gaming. The late ESH tumble means there were not enough institutional buyers near the close to absorb the speculative longs. It is time to prepare for some type of equity top. Expected Economic Data: Feb S&P Global US Mfg PMI 51.5; Feb ISM Mfg. 49.5, Prices Paid 53.2; Feb UM Sentiment 79.6m 1-year Inflation 3.0%; Wards Total Vehicle Sales 15.4m Fed Speakers: Richmond Pres Barkin 8:30 ET, Gov. Waller & Dallas Pres Logan 10:15 ET, SF Pres Daly 13:30 ET, Gov Adriana Kugler 15:30 ET ESUs are 1.75; NQHs (Naz 100) are -7.50 and USHs are -2/32 at 20:20 ET. S&P Index 50-day MA: 4879; 100-day MA: 4654; 150-day MA: 4579; 200-day MA: 4523 DJIA 50-day MA: 38,096; 100-day MA: 36,356; 150-day MA: 35,754, 200-day MA: 35,311 (Green is positive slope; Red is negative slope) S&P 500 Index (5096.27) – 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 4971.42 triggers a sell signal Hourly: Trender and MACD are positive – a close below 5066.54 triggers a sell signal The Senate approved the House-passed CR to keep the government open. Biden needs to sign it. @gatewaypundit: WOW! Biden’s Stiff Gait as He Shuffles Along Desolate Stretch of Texas Border Shocks the Public https://twitter.com/The_Real_Fly/status/1763323989043388531 Axios’ @stephen_neukam: Per source with direct knowledge, Hunter Biden said today that he was high or drunk when he sent the ‘sitting here with my father’ WhatsApp message, sent it to the wrong recipient, and is now embarrassed by the message. He confirmed that his dad was not sitting next to him. So, Hunter Biden’s defense will be ‘I was drunk or high when I did or said that.’ Hunter Biden acknowledged Joe was ‘the big guy’ in $5M China deal https://trib.al/DPg8FAN @GOPoversight: We have released the Hunter Biden deposition transcript. Read Here: https://oversight.house.gov/wp-content/uploads/2024/02/Hunter-Biden-Transcript_Redacted.pdf @foxnewspolitics: Hunter Biden admits he put his father on speakerphone, invited him to meetings, but denies ‘involvement’ https://www.foxnews.com/politics/hunter-biden-full-deposition-admits-father-speakerphone-invited-him-meetings-denies-involvement @NEWSMAX: President Joe Biden, 81, the oldest-serving president in U.S. history, did not take a cognitive test during his annual physical, and the White House said he doesn’t need one because he passes one every day while doing his job. https://t.co/jwlKUXNCwP @joma_gc: Tracie Porter, the clown that is now trying to keep Trump off the Illinois ballot despite the Illinois State Board of Elections ruling against keeping him off the ballot last month, is a traffic judge that presides over “minor traffic violations.” … https://t.co/ZGmJhnMivx UGA campus victim Laken Riley called 911 during alleged attack by Venezuelan migrant who tried stopping her from phoning cops as authorities refuse to release her call for help The 22-year-old Augusta University student was connected to a 911 operator while fighting for her life, police have confirmed https://www.dailymail.co.uk/news/article-13138227/UGA-Laken-Riley-Ibarra-migrant-911.html Laken Riley murder: Athens-Clark County Sheriff campaigned on not ‘cooperating’ with ICE: ‘culture of fear’ https://t.co/3EtRVHqhaJ | |
GREG HUNTER
Putin Nuke Warning, CV19 Vax Inflation, Tanking Economy
By Greg Hunter On March 1, 2024 In Weekly News Wrap-UpsNo Comments
By Greg Hunter’s USAWatchdog.com (WNW 623 3.1.24)
Russian President Putin warned NATO that sending troops to fight in Ukraine could cause a nuclear war. Putin pointed out that Russian nukes travel at hypersonic speeds, and the weapons of the west are no match. Putin also signaled that he was ready to talk about a peace deal to end the fighting. With 500,000 Ukrainian soldiers killed in action and even more dead civilians in this war, isn’t this a good time to stop the killing?
The CV19 vax is not only causing a growing number of victims to “die suddenly,” but it is also making a lot of people very sick? Turbo cancers, autoimmune diseases, blood clots and heart attacks are just a few of the CV19 health problems the vaxed are dealing with. Now, everyone must start dealing with CV19 inflation in the form of exploding healthcare insurance. My insurance sources are warning healthcare costs are going higher—much higher, and it is because of the bioweapon injections. Martin Armstrong says the peak in sick people will happen in 2026. We have a long way to go.
Everywhere you look the economy is tanking. Dozens of companies have laid off thousands of workers in the first two months of 2024. Companies are unloading commercial real estate for $1 in New York City. Home sales have tanked in January while inflation spiked. The only bright spots are gold is rising again while Bitcoin went up $13,000 this past week in just three days. It’s now around $60,000 per unit. What’s going on?
There is much more in the 57-minute newscast.
Join Greg Hunter of USAWatchdog.com for these stories and more in the Weekly News Wrap-Up for 3.1.24.
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After the Interview:
Last time analyst Bo Polny was on USAWatchdog.com, he predicted Chaos, a Turning Point and a Great Awakening. It is looking like Polny is three for three. Polny has a new warning about the US dollar and explains wild action in Bitcoin, too. Polny will be the guest for the Saturday Night Post.
SEE YOU ON MONDAY
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