GOLD PRICE CLOSED UP $17.20 TO $2150.70
SILVER PRICE up 52 cents TO $24.29
Gold ACCESS CLOSED 2145,90
Silver ACCESS CLOSED: 24,16
This is the 5th straight day for gold to rise in price. This never happens . And to boot: gold rising while Powell is speaking? a no no!
Bitcoin morning price:$67,167 UP 4850 DOLLARS.
Bitcoin: afternoon price: $67,197 UP 4880 dollars
Platinum price closing UP $11.25 AT $911.50
Palladium price; UP $116.25 AT $1040.50
END
SHANGHAI GOLD PREMIUM 24 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 06 Mar 2024 12:40:54 PM CT.
Market data is delayed by at least 10 minutes.
I will now provide gold in Canadian dollars, British pounds and Euros
4: 15 PM ACCESS
*CANADIAN GOLD: $2,900.50,00 UP $6.50 CDN dollars per oz( * NEW ALL TIME HIGH 2,900.50CDN DOLLARS PER OZ//MARCH 6 2024)
*BRITISH GOLD: 1684.67 UP 9.70 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1684.67 BRITISH POUNDS/OZ) MARCH 6/2024
*EURO GOLD: 1969.25 UP 8.71 euros per oz //* (ALL TIME CLOSING HIGH: 1969.25 EUROS PER OZ//MARCH 6.2024)
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END
EXCHANGE: COMEX
ACCESS MARKET:
EXCHANGE: COMEX
CONTRACT: MARCH 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,133.500000000 USD
INTENT DATE: 03/05/2024 DELIVERY DATE: 03/07/2024
FIRM ORG FIRM NAME ISSUED STOPPED
092 C DEUTSCHE BANK 4
190 H BMO CAPITAL 11
323 C HSBC 15
363 H WELLS FARGO SEC 31
435 H SCOTIA CAPITAL 12
657 C MORGAN STANLEY 1
661 C JP MORGAN 114 127
690 C ABN AMRO 10 1
726 C CUNNINGHAM COM 1
737 C ADVANTAGE 56 12
905 C ADM 33
TOTAL: 214 214
MONTH TO DATE: 1,984
JPMorgan stopped 127/214 contracts.
FOR MARCH/2024
GOLD: NUMBER OF NOTICES FILED FOR MAR/2024. CONTRACT: 214 NOTICES FOR 21400 OZ or 0.6656 TONNES
total notices so far: 1984 contracts for 198,400 Oz (6.1710 tonnes)
FOR MARCH:
SILVER NOTICES: 134 NOTICE(S) FILED FOR 670,000 OZ/
total number of notices filed so far this month : 4304 for 21,520,000 oz
XXXXXXXXXXXXXXXXXX
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END
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
GLD
WITH GOLD UP $17.20//
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : NO CHANGES IN GOLD INVENTORY AT THE GLD:
INVENTORY RESTS AT 821.47 TONNES
SLV//
WITH NO SILVER AROUND AND SILVER UP 52 CENTS AT THE SLV//
HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A MASSIVE WITHDRAWAL OF 1.499 MILLION OZ FROM THE SLV
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 429.483 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A HUGE SIZED 2327 CONTRACTS TO 141,026 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR TINY FALL IN PRICE OF $0.02 IN SILVER PRICING AT THE COMEX ON TUESDAY. WE HAD ZERO LONG LIQUIDATION AT THE COMEX SESSION WITH AGAIN MAJOR SHORT COVERING DESPITE THE TINY PRICE FALL. WE HAD A HUGE 1115 T.A.S ISSUANCE AND THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY. PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON TUESDAY NIGHT: 1115 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 FELL BY $0.02),AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A TINY SIZED LOSS OF 88 CONTRACTS ON OUR TWO EXCHANGES, IT OCCURRED WITH A LOWER PRICE OF 2 CENTS PER OZ OF SILVER.
WE MUST HAVE HAD:
A HUGE SIZED 2239 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 1.550 MILLION OZ QUEUE JUMP //NEW TOTALS INCREASES TO : 24.935 MILLION OZ
//NEW STANDING FOR SILVER IS THUS 24.935 MILLION OZ
/ HUGE SIZED COMEX OI LOSS/GIGANTIC SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1164 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED A HUGE 625 CONTRACTS //
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS FEB. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF MARCH
TOTAL CONTRACTS for 4 days, total 5453 contracts: OR 27.265 MILLION OZ (1363 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 27.265 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: 27.265 MILLION OZ//WILL BE MUCH LARGER THIS MONTH
RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2327 CONTRACTS WITH OUR LOSS IN PRICE OF SILVER PRICING AT THE COMEX//TUESDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 2239 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 23.385 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S HUGE 1.550 MILLION OZ QUEUE JUMP
//NEW TOTAL STANDING RISES TO 24.935 MILLION OZ
WE HAVE A TINY LOSS OF 88 OI CONTRACTS ON THE TWO EXCHANGES WITH THE TINY LOSS IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 6214 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE TUESDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS ( WITH PRICE OF SILVER RISING) . THE NEW TAS ISSUANCE TUESDAY NIGHT (6214) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .
WE HAD 134 NOTICE(S) FILED TODAY FOR .670 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 GOOD SIZED 3923 CONTRACTS TO 471,616 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 295 CONTRACTS
WE HAD A GOOD SIZED INCREASE IN COMEX OI ( 3923 CONTRACTS) WITH OUR STRONG $16.55 GAIN IN PRICE//TUESDAY. THE BANKERS WERE FORCED TO SUPPLY THE NECESSARY SHORT PAPER TO CONTAIN GOLD’S RISE.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 MONSTER QUEUE JUMP OF 117,200 OZ QUEUE JUMP
NEW TOTAL Of INITIAL GOLD STANDING RISES TO: 11.1477 TONNES // ALL OF THIS HAPPENED WITH OUR $16.55 GAIN IN PRICE WITH RESPECT TO TUESDAY’S TRADING. WE HAD A STRONG SIZED GAIN OF 8418 OI CONTRACTS (26.167) PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 4490 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 471,616
IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 8413 CONTRACTS WITH 3923 CONTRACTS INCREASED AT THE COMEX// AND A GOOD SIZED 4490 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 8413 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): HUGE SIZED 6214 CONTRACTS.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD GOOD SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4490 CONTRACTS) ACCOMPANYING THE GOOD SIZED GAIN IN COMEX OI (3923) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 8413 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 7.502 TONNES FOLLOWED BY TODAY’S HUGE MONSTER QUEUE JUMP OF 3.65 TONNES/NEW STANDING ADVANCES TO 11.1477 TONNES.
/ 3) ZERO LONG LIQUIDATION // 4) GOOD SIZED COMEX OPEN INTEREST GAIN/ 5) GOOD ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: HUGE T.A.S. ISSUANCE: 6214 CONTRACTS//HUGE 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: 27,498 CONTRACTS OR 2,749,800 OZ OR 85.530 TONNES IN 4 TRADING DAY(S) AND THUS AVERAGING: 6,874 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 4 TRADING DAY(S) IN TONNES 85.530 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 85.530/3550 x 100% TONNES 2.40% 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
MARCH 2024: 71.564 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 (APRIL), 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 2327 CONTRACTS OI TO 141,026 AND FURTHER FROM THE COMEX HIGH RECORD //244,710(SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 6 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 2239 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MAY 2239 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 2239 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 1702 CONTRACTS AND ADD TO THE 2249 E.FP. ISSUED
WE OBTAIN A TINY SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 88 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 0.44 MILLION OZ
OCCURRED WITH OUR $.02 LOSS IN PRICE …..
END
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES
(Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
WEDNESDAY MORNING/TUESDAY NIGHT
SHANGHAI CLOSED DOWN 7.86 PTS OR 0.26% //Hang Seng CLOSED UP 275.45 PTS OR 1.70% / Nikkei CLOSED DOWN 6.85 PTS OR 0.02%//Australia’s all ordinaries CLOSED UP 0.03% /Chinese yuan (ONSHORE) closed DOWN 7.1992 //OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2159 /Oil UP TO 78.78 dollars per barrel for WTI and BRENT UP AT 82.55/ Stocks in Europe OPENED ALL MOSTLY MIXED// 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 GOOD SIZED 3923 CONTRACTS TO 471,616 WITH OUR GAIN IN PRICE OF $16.55 WITH RESPECT TO TUESDAY TRADING. MOST LIKELY IT WAS THE BANKERS SUPPLYING THE NECESSARY PAPER WITH OUR SHORT PLAYERS EXITING AS FAST AS THEIR FEET COULD CARRY THEM. THE SHORTS HAVE BEEN KILLED SO IT IS UNLIKELY THAT ANY OF THEM WOULD DARE INTO THIS ARENA ESPECIALLY WITH CENTRAL BANKERS BUYING PHYSICAL GOLD ADDING TO THEIR OFFICIAL TOTALS.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF MARCH..… THE CME REPORTS THAT THE BANKERS ISSUED A GOOD SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS 4490 EFP CONTRACTS WERE ISSUED: : APRIL 4490 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 4490 CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 8413 CONTRACTS IN THAT 4490 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A GOOD SIZED GAIN OF 4490 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR HUGE GAIN IN PRICE OF $16.55 TUESDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR TUESDAY NIGHT WAS A STRONG SIZED 6214 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 (11,1477 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 = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 11.1477 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT GAINED $16.55 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A STRONG SIZED GAIN OF 8413 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 STRONG T.A.S. LIQUIDATION ON THE FRONT END OF TUESDAY’S TRADING . THE T.A.S. ISSUED ON TUESDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS.
WE HAVE GAINED A TOTAL OI OF 26.16 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 MONSTER 117,200 OZ QUEUE JUMP//NEW STANDING INCREASES TO 11.1477 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR HUGE GAIN IN PRICE TO THE TUNE OF $16.55
WE HAD -REMOVED 295 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)
NET GAIN ON THE TWO EXCHANGES 8413 CONTRACTS OR 841300 OZ OR 26.16 TONNES.
estimated volume today 323,654 huge
final gold volumes/yesterday 311,194 huge
//speculators have left the gold arena
MARCH 6/ INITIAL MARCH GOLD
/ /// THE MARCH 2024 GOLD CONTRACT
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 60,323.065 oz HSBC both accounts . |
| Deposit to the Dealer Inventory in oz | nil oz |
| Deposits to the Customer Inventory, in oz | 6044.388 oz Loomis |
| No of oz served (contracts) today | 214 notice(s) 21400 OZ 0.6656 TONNES |
| No of oz to be served (notices) | 1600 contracts 160,000 oz 4.976 TONNES |
| Total monthly oz gold served (contracts) so far this month | 1984 notices 198,400 oz 6.17100 TONNES |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month | x |
0 dealer deposits:
total dealer deposits: nil oz
total customer withdrawals: 2
i) Out of HSBC: 57,081.539 oz
ii) Out of HSBC enhanced 2841.526 oz
total withdrawal: 60,323.065 oz
we had 1 customer deposit
i) Into Looms 6044.388 oz
(188 kilobars)
total deposit 6044.388 oz
Adjustments: 0
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR FEB.
For the front month of MARCH we have an oi of 1814 contracts having GAINED 595 contracts. We had 577 contracts filed upon on Tuesday, so we gained a monstrous 1172 contracts or an additional 117,200 oz of gold(3.645 tonnes) will stand at the comex in this non active delivery month of March
APRIL LOST 3285 CONTRACTS FALLING TO 330,461.
MAY EARNED 104 CONTRACTS TO STAND AT 188
JUNE INCREASED ITS OI BY 5339 CONTRACTS UP TO 88,157 CONTRACTS.
We had 214 contracts filed for today representing 21,400 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer account and 114 notices were issued from their client or customer account. The total of all issuance by all participants equate to 214 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 127 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 (1984 x 100 oz ), to which we add the difference between the open interest for the front month of MARCH. (1814 CONTRACTS) minus the number of notices served upon today 214 x 100 oz per contract equals 358,400 OZ OR 11.1477 TONNES
thus the INITIAL standings for gold for the MARCH. contract month: No of notices filed so far (1984) x 100 oz + (1814) {OI for the front month} minus the number of notices served upon today (134) x 100 oz which equals 358,400 oz (11.1477 TONNES)
TOTAL COMEX GOLD STANDING FOR MARCH: 11.1477 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: 1,342,811.142 41,76 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 18,093,353.015 OZ
TOTAL REGISTERED GOLD 7,944,151,441 (247.09 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 10,203,680,253 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,601,340 oz (REG GOLD- PLEDGED GOLD) 205.32 tonnes/dropping like a stone
END
SILVER/COMEX
MARCH 6/INITIAL
//2024// THE MARCH 2024 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 604,373.590oz HSBC Delaware . |
| Deposits to the Dealer Inventory | nil OZ |
| Deposits to the Customer Inventory | 1,215,030.466 oz Brinks |
| No of oz served today (contracts) | 134 CONTRACT(S) (670,000 OZ) |
| No of oz to be served (notices) | 683 contracts (3.415 MILLION oz) |
| Total monthly oz silver served (contracts) | 4304 Contracts (21.520 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
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 1 deposits customer account:
i) Into Brinks: 1215,030.466 oz
total customer deposits 1,215,030.466 oz
JPMorgan has a total silver weight: 129.806 million oz/283.780 million or 45.74%
adjustment: 0
Comex withdrawals: 2
: i) CNT: 14,048.920 oz
ii) Delaware: 3,634,649 oz
ii) Out of HSBC: 600,740.900 oz
total withdrawal: 604,375.540 oz
TOTAL REGISTERED SILVER: 52.041MILLION OZ//.TOTAL REG + ELIGIBLE. 283.780million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:
silver open interest data:
FRONT MONTH OF MARCH /2023 OI: 817 CONTRACTS HAVING LOST 626 CONTRACT(S).
WE HAD 936 NOTICES FILED ON TUESDAY SO GAINED 310 CONTRACTS OR AN ADDITIONAL 1,550,000 OZ WILL STAND AT THE COMEX
APRIL SAW A GAIN OF 9 CONTRACTS TO STAND AT 796
MAY SAW A LOSS OF 2364 CONTRACTS UP TO 113,226.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 134 for 0.670 MILLION oz
Comex volumes// est. volume today 82,565 strong
Comex volume: confirmed yesterday 108,182 huge
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 4304 x 5,000 oz = 21,520,000 oz
to which we add the difference between the open interest for the front month of MARCH. (817) and the number of notices served upon today 124 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the MARCH/2024 contract month: 4304 (notices served so far) x 5000 oz + OI for the front month of MARCH. (817) – number of notices served upon today (134 )x 500 oz of silver standing for the MARCH contract month equates to 24.935 MILLION OZ.
New total standing: 24.935 million oz.
There are 52.041 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 6 WITH GOLD UP $17.20 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.30 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 821.47 TONNES
MARCH 5 WITH GOLD UP $16.55 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.30 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 821.47 TONNES
MARCH 4 WITH GOLD UP $30.55 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .86 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 823.77 TONNES
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: 821.47 TONNES
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
MARCH 6/WITH SILVER UP 52 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A HUGE WITHDRAWAL OF 2.378 MILLION OZ OF SILVER FROM THE SLV//// : SLV INVENTORY RESTS AT 427,105 MILLION OZ
MARCH 5/WITH SILVER DOWN 2 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A HUGE WITHDRAWAL OF 1.499 MILL;ION OZ OF SILVER FROM THE SLV//// : SLV INVENTORY RESTS AT 429.483 MILLION OZ
MARCH 4/WITH SILVER UP CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: // : SLV INVENTORY RESTS AT 430.982 MILLION OZ
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 427.105 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1:Peter Schiff/Mike Maharrey
end
2.Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens/ SIMON WHITE..//ALASDAIR MACLEOD…
END
3. CHRIS POWELL//GATA GOLD COMMENTARIES: daily Dispatches
Russia, China and the BRICS team up by producing a blockchain payment system and this bypasses the dollar
(FoxNews/Dorgan)
Russia, China, BRICs team up against the dollar with blockchain payment system
Submitted by admin on Tue, 2024-03-05 17:19 Section: Daily Dispatches
By Michael Dorgan
Fox News, New York
Tuesday, March 5, 2024
The BRICs bloc of countries led by China and Russia are moving ahead with their efforts to move away from the U.S. dollar with an announcement that they plan to create a payment system based on blockchain.
The five-nation BRICs group, which also consists of Brazil, India, and South Africa, will work on creating a payment system based on blockchain and digital technologies, Kremlin aide Yury Ushakov said in an interview with Russian agency TASS late Monday.
“We believe that creating an independent BRICs payment system is an important goal for the future, which would be based on state-of-the-art tools such as digital technologies and blockchain,” Ushakov said.
“The main thing is to make sure it is convenient for governments, common people, and businesses, as well as cost-effective and free of politics,” he said. …
… For the remainder of the report:
END
Romania wants its 91 tonnes of gold shipped to Moscow in 1917 back.. Quite a story
(GATA)
Romania still wants its century-old gold back from Russia
Submitted by admin on Tue, 2024-03-05 21:03 Section: Daily Dispatches
The Gold Treasure of National Bank of Romania That Was Sent to Moscow
By the National Bank of Romania
via Politico.Eu, Brussels
Tuesday, March 5, 2024
The troubled story of the evacuation to Moscow of the National Bank of Romania treasure began during the First World War.
Romania entered the war in August 1916, joining the “entente” of France, the United Kingdom, and Russia. After the initial victories, Romania’s situation became increasingly challenging, as it fought a two-front war against the Central Powers: with Germany and Austria-Hungary in the northwest and with Germany, Bulgaria, and the Ottoman Empire in the south, along the Danube.
Thus in December 1916 the Romanian army was forced to retreat to Moldavia and to cede two-thirds of the country’s territory, including Bucharest, its capital city.
All central institutions — the royal house of Romania, the parliament, the government, and the National Bank of Romania — relocated in Iași (Jassy), to the east of Romania.
The risk of the entire country being occupied by the armies of the Central Powers led the government of Romania to send the National Bank of Romania treasure to Moscow. The decision took into account the fact that Russia was the sole ally with which Romania shared a common border, and that Romania’s royal family had strong family ties with Russia’s imperial family: Queen Marie of Romania was Tsar Nicholas II’s first cousin (Maria Alexandrovna, the queen’s mother, and Alexander III, the tsar’s father, were brother and sister). …
… For the remainder of the report:
end
4. OTHER MAJOR GOLD COMMENTARIES/PODCASTS.
Simon White…
Gold’s New High Signals Central Banks Fear Inflation
WEDNESDAY, MAR 06, 2024 – 02:05 PM
Authored by Simon White, Bloomberg macro strategist,
Powell might not be overly worried about inflation – with his recent comments reiterating the Federal Reserve is on track to cut rates this year – but other central banks are not so relaxed. Gold’s new high signals global central banks are likely accumulating the precious metal in an effort to diversify away from the dollar, as persistently large fiscal deficits threaten to further erode its real value and lead to more inflation.
Gold’s move in recent days has been broad as well as pronounced (as well as hinted at by low gold vol), with the precious metal making 50-year highs versus three-quarters of major DM and EM currencies. The biggest holdings of gold after jewellery are for private investment – ETFs, bars and coins – followed by central banks’ official reserve holdings.
In recent years the swing buyers have been ETFs, which hold about 2,500 tonnes of gold. But ETF holdings have been falling even as the dollar price of gold has been rising.
The dollar has been stable and real yields (which anyway have a non-linear relationship with gold) are higher over the last three months. The bulk of seasonal buying, for instance Diwali in India, is likely behind us. Further, silver has not participated in the rise. It’s therefore a reasonable supposition the official sector, i.e. central banks, has been a significant driver of gold’s recent ascent to new highs.
In the runup to the pandemic, and again in the aftermath of Russia’s invasion of Ukraine, global central banks have continued to add to their gold holdings even as ETF investors (perhaps dazzled by the bright lights of crypto) have reduced theirs.
Over the last six months, China, Germany and Turkey have increased their gold holdings by the most (these are official holdings – when it comes to China, its true holdings are likely much higher than stated).
Central banks want gold as it is a hard asset, not part of the financialized system when owned outright. But the dominant reason is a desire to diversify away from the dollar. If you’re not on friendly terms with the US, then it is a way to avoid your reserve assets being seized, as happened to Russia.
But central banks everywhere are quite possibly uneasy about owning too many dollars when the US is running large, inflation-causing fiscal deficits. The dollar is structurally overvalued on a purchasing-power-parity basis versus the main DM currencies. As the chart below shows, this points to dollar underperformance in the coming years.
Investors in gold ETFs may not see much risk from inflation and to the dollar, but central bankers are signaling very much the opposite.
5 a. IMPORTANT COMMENTARIES ON COMMODITIES /
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 TUESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN 7.1992
OFFSHORE YUAN: DOWN TO 7.2159
SHANGHAI CLOSED DOWN 7.86 PPTS OR 0.26%
HANG SENG CLOSED UP 275.45 PTS OR 1.70%
2. Nikkei closed DOWN 6.85 PTS OR 0.02%
3. Europe stocks SO FAR: ALL MOSTLY MIXED
USA dollar INDEX DOWN TO 103.55 EURO RISES TO 1.0876 UP 20 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +.713 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 149.71/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 UP 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 YIELD DOWN TO +2.3610***/Italian 10 Yr bond yield DOWN to 3.708* /SPAIN 10 YR BOND YIELD DOWN TO 3.188…**
3i Greek 10 year bond yield DOWN TO 3.293
3j Gold at $2133.80 silver at: 23.79 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00
3k USA vs Russian rouble;// Russian rouble UP 0 AND 1 /100 roubles/dollar; ROUBLE AT 90.51//
3m oil into the 78 dollar handle for WTI and 82 handle for Brent/
3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/
JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 149.71// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.713% 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 0.8846 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9623 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: 4.159 UP 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.302 UP 3 BASIS PTS/
USA 2 YR BOND YIELD: 4.558 UP 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 31.73…(TURKEY SET TO BLOW UP FINANCIALLY)
GREAT BRITAIN/10 YEAR YIELD: DOWN 1 BASIS PTS AT 4.0860
end
2.a Overnight: Newsquawk and Zero hedge
Futures Jump, Bitcoin Rebounds After Tuesday Rout As Attention Turns To Powell Testimony
WEDNESDAY, MAR 06, 2024 – 08:14 AM
US stock futures reversed a sharp two-day selloff as traders waited to see if Fed Chair Jerome Powell will continue to push back against the prospect of speedy interest-rate cuts during his testimony to the House Financial Services Committee. As of 8:00am, S&P futures rose 0.3%, while contracts on the Nasdaq 100 added 0.8% as tech names rebounded following Tuesday’s 1.7% drop for the Nasdaq Composite; all of the Mag7 names are higher pre-mkt with additional strength in aemis where AVGO/MRVL are up 2.6% and 3.3% pre-mkt (both report earnings tomorrow). According to JPM, “we appear to be set up for a relief rally but given recent dips being bought and markets higher over the next 2-3 sessions it begs the question of whether yesterday was the pullback.” Bond yields are flat to up 1bp, and the dollar is being sold. The commodity complex is mixed with Energy higher, Metals lower, and Ags mixed. Bitcoin has staged a powerful rebound and recovered most of yesterday’s post-all time high losses. Today’s macro data focus is on Powell’s speech at 10am (Day 1 of 2), ADP (which has not been predictive of NFP), JOLTS, and Beige Book.
Also of note is that during yesterday’s brutal selling across crypto after bitcoin hit a new all time high, investors were BTFD like crazy with blowout ETF inflows. And just like that, crypto is now a “safe asset.”
In premarket trading, cybersecurity firm CrowdStrike soared after forecast-beating results, lifting in its wake peers Palo Alto Networks and Zscaler. Skincare companies’ shares dropped s after a report detailing how acne products from several brands are alleged to contain elevated levels of benzene, a chemical linked to cancer; Estee Lauder (EL US) -3.6%, Taro Pharmaceutical -3.5%. Cryptocurrency-linked stocks rally as Bitcoin rebounds from a temporary slump. In a volatile session on Tuesday, the cryptocurrency surged to a record for the first time in more than two years, before falling sharply. Among the crypto-linked moves, Cleanspark +6.3%, Cipher Mining +4.2%, Marathon Digital +5.7%, MicroStrategy +11%, Coinbase Global +5.6% and Riot Platforms +6.1%. Chinese e-commerce company JD.com Inc. soared in New York after it announced strong results and a $3 billion buyback. Here are the other notable premarket movers:
- ChargePoint (CHPT US) shares decline 5.0% after the electric-vehicle charging company reported fourth-quarter revenue that missed estimates. Additionally, the company’s first-quarter revenue guidance didn’t meet analyst expectations.
- Couchbase (BASE US) shares jump 8.9% after the infrastructure software company reported fourth-quarter results that beat expectations and gave a first-quarter forecast that is slightly above the analyst consensus.
- CrowdStrike (CRWD US) shares jump 23% after the cybersecurity provider reported fourth-quarter results that were stronger than expected and gave an outlook that is above the analyst consensus. Peers also gain: SentinelOne (S US) +11%, Palo Alto Networks (PANW) +3.4%, Fortinet (FTNT US) +3.3%, Zscaler (ZS US) +4.5%, Okta (OKTA US) +2.6%, Cloudflare (NET US) +3.2%
- Dada (DADA US) ADRs rally 15% after the JD.com unit said it will reverse overstated revenue in some quarters after an independent review found that some online advertising and marketing-services transactions were conducted primarily to meet sales targets; JD.com gained +12%
- Entravision Communications (EVC US) shares tumble 46% after reporting that Meta Platforms plans to wind down its authorized sales partner program, which accounted for about half of Entravision’s revenue last year.
- Nordstrom (JWN US) shares slide 11% after the department-store operator reported fourth-quarter net sales that were short of consensus expectations. Morgan Stanley said the “disappointing” outlook overshadowed beats in earnings per share and revenue.
- PDD Holdings (PDD US) ADRs fall 3.2% underperforming other US-listed Chinese stocks.
- Ross Stores (ROST US) shares drop 2.8% after the discount department store chain issued full-year comparable sales guidance that missed estimates. Jefferies said the guidance came in below their expectations, while TD Cowen noted the conservative outlook left room for a future beat and raise.
In yesterday’s main event outside of markets, Donald Trump and Joe Biden sailed through the Super Tuesday round of primaries, edging closer to a general election rematch in November. There were no surprises there, nor was it a surprise when Nikki Haley announced she is dropping out of the presidential race. If anything, the question is why it took this long.
Attention now turns to Powell’s semiannual testimony before Congress, where he is widely expected to reiterate that the Fed does not see an urgent need for rate cuts, given robust economic data in recent months. A meeting of the European Central Bank is due Thursday, followed by monthly US payrolls data on Friday.
“The market is certainly not expecting a breakthrough from Powell, the ECB or Friday’s job data,” said Francois Rimeu, a strategist at La Francaise Asset Management in Paris. Rimeu predicted this year’s equity gains will extend, with many investors fearful of missing out on the rally. The S&P 500 hasn’t suffered a drop of 2% or more in one day since February 2023, the longest run without such a pullback in six years. “I expect many investors late on the rally will buy the dips along the way,” he said.
European stocks are green and hovering near record levels with the Stoxx 600 up 0.3% as investors await Federal Reserve Chair Jerome Powell’s testimony on Wednesday and the European Central Bank’s meeting later in the week. Real estate and chemicals stocks outperform, while the health care and media sectors lag. Here are the most notable premarket movers:
- D’Ieteren shares rise as much as 6.3% after releasing results. The spotlight is on the Belgian car dealer’s “finally rock solid” free cash flow and strong net position, according to Degroof.
- IMCD shares advance as much as 4.4% after JPMorgan double-upgrades to overweight and calls the Dutch chemicals distributor “one of the best earnings compounders in the sector.”
- IAG shares rise as much as 4.9% after a double-upgrade at JPMorgan to overweight from underweight, as the broker sees investments boosting the airline group’s earnings in the longer term.
- ConvaTec shares rise as much as 7.6% after the company lifted its mid-term sales growth target. Analysts say this demonstrates the company continues to execute its strategy.
- Scor shares gain as much as 7.8% after the insurer delivered a solvency beat and confirmed a dividend in-line with expectations.
- TUI shares rise as much as 6% in London after Morgan Stanley upgrades to overweight from equal-weight, citing a solid travel demand outlook and the tour operator’s “very low” valuation.
- Dassault Aviation shares slide as much as 5.6%, slipping from Tuesday’s record-high close, after the French aircraft maker released an update which analysts describe as “mixed.”
- DHL shares slide as much as 5.5% after the German logistics firm presented weaker-than-expected 4Q earnings, weighed down by its Express and Freight Forwarding divisions.
- Antofagasta shares fall as much as 3.8% after the copper miner was downgraded by both Barclays and RBC Capital Markets.
- Legal & General shares decline as much as 4.9% after full year operating profit at the financial services company missed the average analyst estimate.
- Grifols shares decline as much as 18% after Moody’s placed the company’s rating on review for downgrade and Gotham City Research published new questions on its accounting methods.
- Basic-Fit shares fall as much as 6.4% after a downgrade to equalweight by Barclays, which cited the potential for the gym operator’s German rollout to be more costly than expected.
Earlier in the session, Asian stocks gained as traders continued to digest China’s ambitious 5% growth target announced at a top official meeting, while Chinese tech shares rebounded ahead of key earnings releases. The MSCI Asia Pacific Index erased earlier losses to rise as much as 0.4%. Chinese tech giants such as Alibaba and Tencent were the biggest boosts to the regional gauge, while JD.com surged ahead of its fourth-quarter results. An index of Chinese shares listed in Hong Kong jumped more than 2%, while the onshore CSI 300 Index also edged higher. “Hong Kong’s rebound is led by tech and in particular JD.com. It looks to be related to expectations on its results due today,” said Marvin Chen, a Bloomberg Intelligence strategist. “There could be some short covering in JD.com as well.”
In FX, the Bloomberg Dollar Spot Index falls 0.1%. The yen is up 0.2% but off its best levels having rallied on reports at least one BOJ policymaker will say it’s appropriate to end negative rates at the March meeting. The BOJ is also said to be getting more confident over the strength of wage growth. GBP/USD rises as much as 0.2% to 1.2731, in line with peers; Aussie climbs 0.3%, recovering from an early slip after data showed Australia’s economy slowed in the final three months of last year as elevated interest rates and rising living costs dragged on household spending. Kiwi dollar also recovers from weakness following Reserve Bank of New Zealand chief economist Paul Conway saying the central bank may be able to start cutting interest rates sooner than it currently expects to if the Fed begins easing later this year; Climbs 0.3% to 0.6104 amid broad dollar weakness. USD/JPY declined as much as 0.5% to 149.33 before paring the move.
In rates, treasuries were slightly cheaper across the curve in early US trading amid bigger losses across core European rates. 10-year yields around 4.16% are ~1bp cheaper on the day, bunds and gilts in the sector by an additional 2.5bp and 3.5bp; curve spreads are broadly within 1bp of Tuesday’s closing levels. Gilts underperformed ahead of the UK budget announcement where Chancellor Jeremy Hunt is expected to unveil personal tax cuts. JGBs were hit overnight following report on Mitsubishi UFJ Financial Group Inc.’s view that the BOJ will end negative rates in March. US session includes Fed Chair Powell’s congressional testimony before the House Financial Services Committee along with two peripheral labor-market reports.
In commodities, Oil prices advance, with WTI rising 1% to trade near $78.90. Spot gold is little changed around $2,127. Bitcoin jumps ~5%.
As noted above, Bitcoin climbs firmly above USD 66k after sinking below USD 60k in the prior session, after making ATHs.
US 10-year yields rise 1bps to 4.16%. European stocks are green and hovering near record levels with the Stoxx 600 up 0.3%. S&P futures rise 0.4% while Nasdaq 100 contracts add 0.8%. The Bloomberg Dollar Spot Index falls 0.1%. The yen is up 0.2% but off its best levels having rallied on reports at least one BOJ policymaker will say it’s appropriate to end negative rates at the March meeting. The BOJ is also said to be getting more confident over the strength of wage growth. Oil prices advance, with WTI rising 1% to trade near $78.90. Spot gold is little changed around $2,127. Bitcoin jumps ~5%.
Looking ahead, the US economic data calendar includes February ADP employment change (8:15am), January JOLTS job openings and wholesale inventories (10am). Fed speakers scheduled include Powell (10am New York time, though Fed sometimes releases text at 8:30am), Daly (12pm) and Kashkari (4:15pm); Fed releases Beige book at 2pm.
Market Snapshot
- S&P 500 futures up 0.4% to 5,104.75
- STOXX Europe 600 up 0.3% to 497.95
- MXAP up 0.5% to 175.11
- MXAPJ up 0.6% to 529.11
- Nikkei little changed at 40,090.78
- Topix up 0.4% to 2,730.67
- Hang Seng Index up 1.7% to 16,438.09
- Shanghai Composite down 0.3% to 3,039.93
- Sensex up 0.5% to 74,047.47
- Australia S&P/ASX 200 up 0.1% to 7,733.54
- Kospi down 0.3% to 2,641.49
- German 10Y yield little changed at 2.35%
- Euro up 0.1% to $1.0873
- Brent Futures up 0.8% to $82.69/bbl
- Gold spot down 0.0% to $2,127.53
- U.S. Dollar Index down 0.15% to 103.64
Top Overnight News
- Chinese policymakers held a rare joint news conference to defend the new economic targets for 2024 and ensure that additional tools exist to bolster growth. Nikkei
- China set a bullish target of around 5% growth this year as top leaders try to boost confidence in the world’s second-largest economy. But for analysts, Premier Li Qiang’s lack of details on how to get there was out of step with the nation’s deep challenges. BBG
- The PBOC has room for further cuts to the reserve requirement ratio and will push for financing costs to trend lower, Governor Pan Gongsheng said. That suggests the PBOC will be more active in easing to bolster demand, Mizuho said. China’s 10-year yield slipped. BBG
- South Korea’s headline CPI ticks up to +3.1% in Feb (up from +2.8% in Jan and ahead of the Street’s +3% forecast) while core is unchanged and inline at +2.5%. WSJ
- Some Bank of Japan (BOJ) board members are likely to say that lifting negative interest rates is reasonable at a policy meeting this month, Jiji Press reported on Wednesday without citing sources. If a majority of the nine-member board vote in favor of ending negative rates it would pave the way for the first rate hike since 2007. RTRS
- Biden urges Hamas to agree to a ceasefire, warning of a “very, very dangerous” situation if one isn’t reached by the start of Ramadan on 3/10. SCMP
- “Super Tuesday” saw Trump and Biden dominate their respective parties (although they each lost once, Trump in Vermont and Biden in American Samoa), but with some large warning signs for each (Trump continues to perform poorly with suburban and educated voters while Biden’s “uncommitted” and 3rd-party problem is very real in certain critical swing states). Politico
- Trump met with Elon Musk and a few wealthy GOP donors on Sunday as the former president looks for a major financial influx to bolster his campaign (Musk apparently thinks it’s essential that Biden be defeated in Nov). NYT
- Nikki Haley plans to suspend her Republican presidential primary bid in a speech Wednesday morning. Her decision arrived the day after Super Tuesday, when she won only Vermont among 15 states that held GOP contests. Haley won’t announce an endorsement Wednesday, the people said. She will encourage Donald Trump, who is close to having the delegates needed to win the GOP nomination, to earn the support of Republican and independent voters who backed her. WSJ
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were mostly choppy with early pressure following the tech-led declines stateside where Apple shares entered into a technical correction following a slump in China iPhone sales. ASX 200 traded rangebound as financials offset the losses in tech, while GDP data was somewhat inconclusive. Nikkei 225 gapped beneath the 40,000 level at the open before recovering the majority of losses. Hang Seng and Shanghai Comp. shrugged off early caution with outperformance in Hong Kong driven by tech and healthcare, while price action in the mainland was more reserved amid US-China frictions and some growth-related pessimism.
Top Asian News
- RBNZ Chief Economist Conway said declines in core inflation are encouraging and rates need to stay restrictive for a sustained period. Conway said the picture for household consumption is soft and household inflation expectations are a risk, while he added the Fed cutting before the RBNZ could lead to weaker inflation.
- Australian Treasurer Chalmers said the economy is not immune to a global downturn and the balance of risks is shifting from inflation to growth, while he expects Q1 2024 GDP to remain weak.
- China’s NPC and CPPCC press conference: Chinese State Planner Head says sees stronger economic growth trend this year; PBoC Governor says there is still room for RRR cuts; Will maintain appropriate increase in money supply. Click here for all commentary.
- Fitch affirms Korea at AA-; outlook stable
European bourses, Stoxx600 (+0.3%) began the session on a mixed footing and trading on either side of the unchanged mark. As the morning progressed, indices moved into the green and currently trades near session highs. European sectors hold a positive tilt; Chemicals is propped up BASF (+2.5), after the Co. announced global price hikes for chemicals. Media is found at the foot of the pile, and Insurance is also found in the red, weighed on by Legal & General (-4.1%), post-earnings. US Equity Futures (ES +0.4%, NQ +0.7%, RTY +0.5%) are in the green, posting gains similar to that seen in Europe. There is some outperformance in the NQ, attempting to pare back some of the significant losses seen in the prior session. In terms of individual movers, CrowdStrike (+24.5%) is higher in the pre-market after beating on its results and raising guidance.
Top European News
- UK Chancellor Hunt said we can now help families with permanent tax cuts and must bring down borrowing so we can start to reduce debt, according to Reuters.
- UK Chancellor Hunt’s expected decision to lower national insurance by 2p has triggered speculation over a potential May election, according to The Telegraph.
- Ukraine is willing to accept restrictions on EU trade as Kyiv seeks to resolve a dispute with Poland but wants the bloc to ban Russian grain imports, according to FT.
- UK Chancellor Hunt will, according to one Cabinet Minister, announce a 2pp cut to National Insurance and a 1pp cut to Income Tax in the budget, via Playbook; subsequently, Times’ Swinford says UK Chancellor Hunt “won’t” reduce income tax by 1p alongside a 2p reduction in national insurance.
- French Finance Minister Le Maire says the 2023 budget deficit will be significantly above target and the EUR 10bln of spending cuts planned for 2024 are “an emergency brake”, via Le Monde.
FX
- USD broadly softer vs. peers with initial JPY strength acting as a drag on the dollar before other peers began to outmuscle the greenback. DXY session low is at 103.58 matching yesterday’s trough.
- EUR is inching gains vs. the USD with a session best of 1.0879 surpassing yesterday’s 1.0876 peak. If this gives way, Feb 22nd high at 1.0888 will come into view, with the psychological 1.09 mark just above.
- GBP is benefitting from the broadly weaker USD with a high watermark of 1.2731 just below yesterday’s 1.2735 peak. Fate for the pair may well today be sealed via the UK budget. If gains extend beyond yesterday’s peak, Feb 2nd high resides at 1.2772; UK Chancellor Hunt expected to cut NI by 2p & possibly Income Tax by 1p.
- JPY gained sharply vs. the USD in early trade following reporting that some policymakers could support hiking rates in March. USD/JPY fell to a low of 149.33 but was unable to crack last week’s trough at 149.20. The pair then retraced much of the move, before slipping once again on yet another BoJ source, though this move was pared and currently holds around 149.80.
- Antipodeans are both firmer vs. the USD and outperforming across the majors. AUD saw mixed GDP data overnight but has been able to climb back onto a 0.65 handle. Weekly high sits just above current levels at 0.6535.
- PBoC set USD/CNY mid-point at 7.1016 vs exp. 7.1939 (prev. 7.1027).
- Turkish central bank said it has taken additional tightening measures to reinforce its commitment to tight policy and adjusted the loan monthly growth limit within the scope of loan growth-based securities maintenance practice, according to Reuters.
Fixed Income
- USTs are lower by a handful of ticks but holding above the 111-00 mark as specific newsflow has been somewhat light. The docket ahead is dominated by Chair Powell who is providing semi-annual testimony to the House today and Senate on Thursday.
- Gilts were pressured after a Politico piece citing a UK Cabinet Source said the Chancellor will cut NI by 2pp (as reported by the Times on Tuesday) and cut Income Tax by 1pp. Gilts will judge the UK budget at 12:30 GMT / 07:30 ET, where the focus will be on whether Hunt has left enough fiscal breathing space and on the Gilt remit. Following additional sources (Times’ Swinford) pushing back on the Income Tax cut benchmarks lifted off lows to around 98.90.
- Bunds are pressured in tandem with Gilt price action and ultimately unreactive to German trade data which saw a record balance and strong export numbers; currently hold around 132.80 with downside of circa. 40 ticks.
Commodities
- Crude is firmer despite a lack of major catalysts but amid a weaker Dollar and following a bullish-leaning private inventory report yesterday; Brent back above USD 82.50/bbl.
- Precious metals are flat/mixed trade and taking a breather from the recent rally despite the weaker Dollar but ahead of risk events; Spot gold trades within a narrow USD 2,123.75-2,131.60/oz parameter after hitting a high of 2,141.88/oz yesterday.
- Base metals trade mostly higher amid the softer Dollar, and possibly coupled with some economic optimism expressed by Chinese officials at the NPC and CPPCC press conference, in which the PBoC Governor also highlighted more room to cut the RRR.
- Saudi Arabia set April Arab light crude OSP to Asia at Oman/Dubai + USD 1.70/bbl and to NW Europe at ICE Brent + USD 0.30/bbl, while it set OSP to US at ASCI + USD 4.75/bbl.
- UBS forecasts spot gold to rise to USD 2250/oz by end-2024
Geopolitics: Middle East
- Hamas senior official said any exchange of prisoners cannot take place except after a ceasefire. Hamas also said that they showed flexibility to try to reach an agreement and will continue negotiating through mediators until they reach an agreement.
- Hezbollah said it targeted a building in the Avivim settlement in Israel with appropriate weapons and achieved a direct hit, according to Al Jazeera.
- US CENTCOM said its forces shot down anti-ship ballistic missiles and three one-way attack unmanned aerial systems launched from Iranian-backed Houthi-controlled areas of Yemen, according to Reuters.
- UKMTO received a report of a merchant vessel being hailed over VHF for approximately 30 minutes, while the vessel was hailed by an entity declaring itself to be the Yemeni Navy and ordered it to alter course, according to Reuters.
- Yemen’s Houthis said they carried out a qualitative military operation in which they targeted two US warship destroyers in the Red Sea.
- UKMTO receives report of an incident 54NM Southwest of Aden, Yemen.
- US Democrats say Rafah invasion “likely” violates President Biden’s requirement that US military aid be used in accordance with international law, according to Axios sources.
Geopolitics: Other
- Russian Foreign Intelligence Service director Naryshkin said French President Macron’s statement about NATO soldiers in Ukraine shows the irresponsibility of European leaders and are pushing the world to a nuclear war, according to TASS.
- US State Department said the US stands with the Philippines following China’s provocative actions against lawful Philippine maritime operations in the South China Sea, while the US condemns China for repeatedly obstructing Philippine vessels’ high seas freedom of navigation, according to Reuters.
- Second drone hit iron ore refinery in Russia’s Kursk region, according to the regional governor; The iron ore refinery in Russia’s Kursk region is working normally after a second drone attack, according to a representative cited by Reuters.
- Russia’s Kremlin says America is fighting against Russia, according to Ria
US Event Calendar
- 08:15: Feb. ADP Employment Change, est. 150,000, prior 107,000
- 10:00: Jan. Wholesale Trade Sales MoM, est. 0.3%, prior 0.7%
- 10:00: Jan. JOLTs Job Openings, est. 8.85m, prior 9.03m
- 10:00: Jan. Wholesale Inventories MoM, est. -0.1%, prior -0.1%
- 14:00: Federal Reserve Releases Beige Book
Central Bank speakers
- 10:00: Fed Chair Powell Testifies Before Congress
- 12:00: Fed’s Daly to Give Keynote Address
- 14:00: Federal Reserve Releases Beige Book
- 16:15: Fed’s Kashkari Speaks at WSJ Event
2 B) NOW NEWSQUAWK (EUROPE/REPORT)
Equities firmer, Dollar lower & JPY bid after BoJ sources, Gilts pressured ahead of UK Budget; Fed Chair Powell due – Newsquawk US Market Open
WEDNESDAY, MAR 06, 2024 – 06:12 AM
- Equities are firmer as sentiment improves from the prior session; Chair Powell ahead
- Dollar lower, JPY bid after BoJ sources, Antipodeans benefit from risk tone
- At the March BoJ policy meeting some attendees are reportedly likely to say that lifting negative interest rates is reasonable, via JiJi
- Bonds softer with Gilts pressured ahead of the UK Budget
- Crude benefits from a bullish-leaning private inventory yesterday; XAU flat but remains near highs
- Looking ahead, US ADP National Employment, Wholesale Inventory, JOLTS, BoC and NBP Policy Announcement, Fed Beige Book, UK Budget, Comments from Fed Chair Powell, Daly & Kashkari
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1. Subscribe to the free premarket movers reports
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EUROPEAN TRADE
EQUITIES
- European bourses, Stoxx600 (+0.3%) began the session on a mixed footing and trading on either side of the unchanged mark. As the morning progressed, indices moved into the green and currently trades near session highs.
- European sectors hold a positive tilt; Chemicals is propped up BASF (+2.5), after the Co. announced global price hikes for chemicals. Media is found at the foot of the pile, and Insurance is also found in the red, weighed on by Legal & General (-4.1%), post-earnings.
- US Equity Futures (ES +0.4%, NQ +0.7%, RTY +0.5%) are in the green, posting gains similar to that seen in Europe. There is some outperformance in the NQ, attempting to pare back some of the significant losses seen in the prior session. In terms of individual movers, CrowdStrike (+24.5%) is higher in the pre-market after beating on its results and raising guidance.
- Click here and here for the sessions European pre-market equity newsflow, including earnings.
- Click here for more details.
FX
- USD broadly softer vs. peers with initial JPY strength acting as a drag on the dollar before other peers began to outmuscle the greenback. DXY session low is at 103.58 matching yesterday’s trough.
- EUR is inching gains vs. the USD with a session best of 1.0879 surpassing yesterday’s 1.0876 peak. If this gives way, Feb 22nd high at 1.0888 will come into view, with the psychological 1.09 mark just above.
- GBP is benefitting from the broadly weaker USD with a high watermark of 1.2731 just below yesterday’s 1.2735 peak. Fate for the pair may well today be sealed via the UK budget. If gains extend beyond yesterday’s peak, Feb 2nd high resides at 1.2772; UK Chancellor Hunt expected to cut NI by 2p & possibly Income Tax by 1p.
- JPY gained sharply vs. the USD in early trade following reporting that some policymakers could support hiking rates in March. USD/JPY fell to a low of 149.33 but was unable to crack last week’s trough at 149.20. The pair then retraced much of the move, before slipping once again on yet another BoJ source, though this move was pared and currently holds around 149.80.
- Antipodeans are both firmer vs. the USD and outperforming across the majors. AUD saw mixed GDP data overnight but has been able to climb back onto a 0.65 handle. Weekly high sits just above current levels at 0.6535.
- PBoC set USD/CNY mid-point at 7.1016 vs exp. 7.1939 (prev. 7.1027).
- Turkish central bank said it has taken additional tightening measures to reinforce its commitment to tight policy and adjusted the loan monthly growth limit within the scope of loan growth-based securities maintenance practice, according to Reuters.
- Click here for more details.
FIXED INCOME
- USTs are lower by a handful of ticks but holding above the 111-00 mark as specific newsflow has been somewhat light. The docket ahead is dominated by Chair Powell who is providing semi-annual testimony to the House today and Senate on Thursday.
- Gilts were pressured after a Politico piece citing a UK Cabinet Source said the Chancellor will cut NI by 2pp (as reported by the Times on Tuesday) and cut Income Tax by 1pp. Gilts will judge the UK budget at 12:30 GMT / 07:30 ET, where the focus will be on whether Hunt has left enough fiscal breathing space and on the Gilt remit. Following additional sources (Times’ Swinford) pushing back on the Income Tax cut benchmarks lifted off lows to around 98.90.
- Bunds are pressured in tandem with Gilt price action and ultimately unreactive to German trade data which saw a record balance and strong export numbers; currently hold around 132.80 with downside of circa. 40 ticks.
- Click here for more details.
COMMODITIES
- Crude is firmer despite a lack of major catalysts but amid a weaker Dollar and following a bullish-leaning private inventory report yesterday; Brent back above USD 82.50/bbl.
- Precious metals are flat/mixed trade and taking a breather from the recent rally despite the weaker Dollar but ahead of risk events; Spot gold trades within a narrow USD 2,123.75-2,131.60/oz parameter after hitting a high of 2,141.88/oz yesterday.
- Base metals trade mostly higher amid the softer Dollar, and possibly coupled with some economic optimism expressed by Chinese officials at the NPC and CPPCC press conference, in which the PBoC Governor also highlighted more room to cut the RRR.
- Saudi Arabia set April Arab light crude OSP to Asia at Oman/Dubai + USD 1.70/bbl and to NW Europe at ICE Brent + USD 0.30/bbl, while it set OSP to US at ASCI + USD 4.75/bbl.
- UBS forecasts spot gold to rise to USD 2250/oz by end-2024
- Click here for more details.
NOTABLE EUROPEAN HEADLINES
- UK Chancellor Hunt said we can now help families with permanent tax cuts and must bring down borrowing so we can start to reduce debt, according to Reuters.
- UK Chancellor Hunt’s expected decision to lower national insurance by 2p has triggered speculation over a potential May election, according to The Telegraph.
- Ukraine is willing to accept restrictions on EU trade as Kyiv seeks to resolve a dispute with Poland but wants the bloc to ban Russian grain imports, according to FT.
- UK Chancellor Hunt will, according to one Cabinet Minister, announce a 2pp cut to National Insurance and a 1pp cut to Income Tax in the budget, via Playbook; subsequently, Times’ Swinford says UK Chancellor Hunt “won’t” reduce income tax by 1p alongside a 2p reduction in national insurance.
- French Finance Minister Le Maire says the 2023 budget deficit will be significantly above target and the EUR 10bln of spending cuts planned for 2024 are “an emergency brake”, via Le Monde.
DATA RECAP
- EU Retail Sales YY (Jan) -1.0% vs. Exp. -1.3% (Prev. -0.8%, Rev. -0.5%); Retail Sales MM (Jan) 0.1% vs. Exp. 0.1% (Prev. -1.1%, Rev. -0.6%)
- German Imports MM SA (Jan) 3.6% vs. Exp. 1.8% (Prev. -6.7%); Trade Balance, EUR, SA (Jan) 27.5B vs. Exp. 21.5B (Prev. 22.2B); Exports MM SA (Jan) 6.3% vs. Exp. 1.5% (Prev. -4.6%)
- EU HCOB Construction PMI (Feb) 42.9 (Prev. 41.3)
- Italian HCOB Construction PMI (Feb) 50.3 (Prev. 51.6)
- German HCOB Construction PMI (Feb) 39.1 (Prev. 36.3)
- French HCOB Construction PMI (Feb) 41.9 (Prev. 39.6)
- UK S&P Global Construction PMI (Feb) 49.7 vs. Exp. 49.0 (Prev. 48.8)
NOTABLE US HEADLINES
- US President Biden and former President Trump have swept the state primaries that were held on Super Tuesday, according to projections by CBS – making a White House rematch between them even more likely, according to the BBC.
- Former US President Trump has secure the Alaska Caucus, via Edison Research
- Morgan Stanley (MS) lays off 9% of staff at its China asset management unit amid shrinking assets and operating losses, Reuters reports.
- CrowdStrike Inc (CRWD) – Q4 2024 (USD): Adj. EPS 0.95 (exp. 0.82), Revenue 845mln (exp. 839mln). Q1 revenue view 902.2-905.8mln (exp. 898mln). Q1 adj. EPS view 0.89-0.90 (exp. 0.83). FY25 adj. EPS view 3.92-3.99bln (exp. 3.93bln). FY25 adj. EPS view 3.77-3.97 (exp. 3.75). (Newswires) Shares higher by 24.8% in the pre-market
- JD.Com Inc (JD) Q4 2023 (USD): Adj. EPS 0.75 (exp. 0.62), Revenue 43.1bln (exp. 41.69bln); Announces buyback of up to USD 3bln, Shares higher by 11% in the pre-market.
- Nikki Haley is set to exit the US Republican nomination race, via WSJ.
- US regulators are expected to significantly lower the capital burden imposed by Basel III endgame proposal, according to Reuters sources. Fed Chair Powell is said to be seeking “significant” changes to the proposal.
GEOPOLITICS
- Hamas senior official said any exchange of prisoners cannot take place except after a ceasefire. Hamas also said that they showed flexibility to try to reach an agreement and will continue negotiating through mediators until they reach an agreement.
- Hezbollah said it targeted a building in the Avivim settlement in Israel with appropriate weapons and achieved a direct hit, according to Al Jazeera.
- US CENTCOM said its forces shot down anti-ship ballistic missiles and three one-way attack unmanned aerial systems launched from Iranian-backed Houthi-controlled areas of Yemen, according to Reuters.
- UKMTO received a report of a merchant vessel being hailed over VHF for approximately 30 minutes, while the vessel was hailed by an entity declaring itself to be the Yemeni Navy and ordered it to alter course, according to Reuters.
- Yemen’s Houthis said they carried out a qualitative military operation in which they targeted two US warship destroyers in the Red Sea.
- UKMTO receives report of an incident 54NM Southwest of Aden, Yemen.
- US Democrats say Rafah invasion “likely” violates President Biden’s requirement that US military aid be used in accordance with international law, according to Axios sources.
OTHER
- Russian Foreign Intelligence Service director Naryshkin said French President Macron’s statement about NATO soldiers in Ukraine shows the irresponsibility of European leaders and are pushing the world to a nuclear war, according to TASS.
- US State Department said the US stands with the Philippines following China’s provocative actions against lawful Philippine maritime operations in the South China Sea, while the US condemns China for repeatedly obstructing Philippine vessels’ high seas freedom of navigation, according to Reuters.
- Second drone hit iron ore refinery in Russia’s Kursk region, according to the regional governor; The iron ore refinery in Russia’s Kursk region is working normally after a second drone attack, according to a representative cited by Reuters.
- Russia’s Kremlin says America is fighting against Russia, according to Ria
CRYPTO
- Bitcoin climbs firmly above USD 66k after sinking below USD 60k in the prior session, after making ATHs.
APAC TRADE
- APAC stocks were mostly choppy with early pressure following the tech-led declines stateside where Apple shares entered into a technical correction following a slump in China iPhone sales.
- ASX 200 traded rangebound as financials offset the losses in tech, while GDP data was somewhat inconclusive.
- Nikkei 225 gapped beneath the 40,000 level at the open before recovering the majority of losses.
- Hang Seng and Shanghai Comp. shrugged off early caution with outperformance in Hong Kong driven by tech and healthcare, while price action in the mainland was more reserved amid US-China frictions and some growth-related pessimism.
BoJ
- BoJ is likely to maintain its forecast that the economy will continue to recover and is expected to revise down the assessment on consumption and output at the March meeting, according to Reuters sources.
- At the March BoJ policy meeting some attendees are reportedly likely to say that lifting negative interest rates is reasonable, via JiJi.
- BoJ is said to have differing views among members the timing of a rate move; officials are said to get more confidence on about stronger wage growth, according to Bloomberg sources. No consensus yet on whether the central bank should move at the end of its policy meeting on March 19th or wait until April. BoJ sees pay increases outpacing last year’s gains, sources said. BoJ is likely to mull tweaking its assessment of consumer spending and production to reflect some weakness; seen keeping its overall view for a gradual economic recovery unchanged, sources added. Wording could be added to reflect fragility in the economy. BoJ will reportedly will reach its policy decision after economic data and financial markets “until the last minute”.
NOTABLE HEADLINES
- RBNZ Chief Economist Conway said declines in core inflation are encouraging and rates need to stay restrictive for a sustained period. Conway said the picture for household consumption is soft and household inflation expectations are a risk, while he added the Fed cutting before the RBNZ could lead to weaker inflation.
- Australian Treasurer Chalmers said the economy is not immune to a global downturn and the balance of risks is shifting from inflation to growth, while he expects Q1 2024 GDP to remain weak.
- China’s NPC and CPPCC press conference: Chinese State Planner Head says sees stronger economic growth trend this year; PBoC Governor says there is still room for RRR cuts; Will maintain appropriate increase in money supply. Click here for all commentary.
- Fitch affirms Korea at AA-; outlook stable
DATA RECAP
- Australian Real GDP QQ SA (Q4) 0.2% vs. Exp. 0.3% (Prev. 0.2%); Real GDP YY SA (Q4) 1.5% vs. Exp. 1.4% (Prev. 2.1%)
- China’s prelim Feb Retail Passenger Vehicle sales -21% Y/Y, according to PCA
2C ASIA AFFAIRS
WEDNESDAY MORNING/TUESDAY NIGHT
SHANGHAI CLOSED DOWN 7.86 PTS OR 0.26% //Hang Seng CLOSED UP 275.45 PTS OR 1.70% / Nikkei CLOSED DOWN 6.85 PTS OR 0.02%//Australia’s all ordinaries CLOSED UP 0.03% /Chinese yuan (ONSHORE) closed DOWN 7.1992 //OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2159 /Oil UP TO 78.78 dollars per barrel for WTI and BRENT UP AT 82.55/ Stocks in Europe OPENED ALL MOSTLY MIXED// 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/
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
GERMANY/
5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS
ISRAEL HAMAS/KHAN YOUNIS
IDF eliminates huge number of terrorists in an ambush
(Jerusalem Post)
A snipers’ ambush: IDF kills October 7 terrorists, Nukhba forces
As the government mulls Rafah operation, the IDF continues to operate in the Khan Yunis area of the Gaza Strip, where troops have killed numerous terrorists and located weapons caches.
By JERUSALEM POST STAFFMARCH 6, 2024 11:41Updated: MARCH 6, 2024 11:42
A snipers’ ambush: IDF kills October 7 terrorists, Nukhba forces As the government mulls Rafah operation, the IDF continues to operate in the Khan Yunis area of the Gaza Strip, where troops have killed numerous terrorists
The IDF operated in the Khan Yunis area in the Gaza Strip, where troops killed Nukhba forces and other terrorists who were involved in the Nir Yitzhak massacre on October 7, the IDF reported on Wednesday.
In Beit Hanoun, an Israel Air Force fighter jet eliminated terrorists who fled to a nearby military building. The IAF worked in coordination with the Northern Brigade of the Gaza Division to complete the operation.
Fighter jets attacked two terrorists complicit in the massacre of Nir Yitzhak on October 7 who hid in a military structure. The IDF was successful in killing two platoon commanders and a squad commander from the Nukhba Force, Hamas’s elite unit.
https://www.jpost.com/israel-hamas-war/article-790436
Troops from the Nahal Brigade operated in the central Gaza Strip and killed approximately 20 terrorists in the last day through sniper fire, remotely manned aircraft, and IAF fighter jets.
Coordination among ground troops, IAF, and intelligence
In one particular attack, as part of a sniper ambush initiated by IDF, troops killed 15 terrorists. In another, the brigade’s fire complex, alongside the IAF and guided by military intelligence, attacked terrorist infrastructure from which terrorists launched anti-aircraft fire at IDF troops. After this operation, explosions were seen, indicating that large amounts of ammunition were stored in the area, the military noted.
Soldiers from the Givati Brigade operated in the Hamad neighborhood in Khan Yunis, where they identified several terrorists that were promptly eliminated by a combat helicopter. Later, IDF troops identified a terrorist approaching them, who was killed.
Additionally, soldiers from the IDF Commando Brigade continued to search the buildings of the Hamad neighborhood and eliminate terrorists. On one such search, troops found weapons caches containing Kalashnikovs and cartridges. While searching the same neighborhood, soldiers from the 7th Brigade found more weapons and military equipment.
During an ambush, soldiers from the Bislach Brigade identified five armed terrorists and killed them with short-range fire.
Hamas terrorists complicit in Kibbutz Kfar Aza massacre arrested
In other developments, IDF troops arrested Hamas terrorists who took part in the October 7 massacre, who were handed over for investigation by security officials, Walla! reported. One such terrorist was complicit on October 7, who had entered Kibbutz Kfar Aza and managed to escape back to the Gaza Strip.
According to military sources, Israel holds approximately 230 Hamas terrorists suspected of taking part in the October 7 attacks. Fifty have completed the investigation and are defined as “participants in the massacre” who will undergo criminal investigation. Another 140 are currently under investigation, and the rest are at varying stages of investigation, Walla! stated.
There are rising questions of who would be given the task of indictment and prosecution, the military or the civilian judicial system, with rising criticisms about the under-preparedness of the IDF in dealing with the task. A possible hostage deal would also raise issues in relation to a prisoner exchange.
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END
ISRAEL/GAZA/HAMAS
Same story as above with 250 Hamas, Islamic Jihad operatives captured in Khan Younis
IDF says troops captured 250 Hamas, Islamic Jihad operatives during raid in Khan Younis residential complex
By EMANUEL FABIAN FOLLOW
Today, 4:01 pm
Troops operate in the Hamad Town residential complex in southern Gaza’s Khan Younis, in a handout image published by the IDF, March 6, 2024. (Israel Defense Forces)
The IDF says troops have captured hundreds of Hamas and Palestinian Islamic Jihad operatives during its ongoing raid on the Hamad Town residential complex in southern Gaza’s Khan Younis.
The Commando Brigade’s Maglan and Egoz units, along with the Navy’s Shayetet 13 and Shin Bet agents, have been carrying out building-to-building searches in Hamad. The IDF says the high-rise towers in the neighborhood are used by Hamas.
The commandos captured “many” operatives who surrendered to them in the neighborhood, including a Hamas sniper squad commander and two other commanders, the IDF says.
The IDF says the troops also seized firearms, explosives, and military equipment, including scuba gear, in the buildings.
At the same time, the IDF says the 7th Armored Brigade is encircling the Hamad area, and with the Military Intelligence Directorate’s Unit 504, are capturing terror operatives trying to flee with evacuating civilians.
So far, the IDF says the troops have captured 250 Hamas and Palestinian Islamic Jihad operatives, some of whom participated in the October 7 terror onslaught and are members of Hamas’s elite Nukhba force.
The IDF says the interrogations of the operatives provide helpful information for its continued operations in Gaza
END
ISRAEL/LEBANON/SYRIA
Israel intercepts an inbound drone from Syria which is a first. They also seemed to have
invaded the border towns inside Lebanon
(zerohedge)
Israeli Jet Intercepts Inbound Drone From Syria In Escalation
TUESDAY, MAR 05, 2024 – 06:00 PM
While Israel has over the past months and even years regularly attacked Syria – especially in Damascus and its environs – with airstrikes, it remains extremely rare for projectiles to be fired the other way, from Syria onto Israel.
But that very rare event appears to have taken place Tuesday, as an Israeli Air Force fighter jet was scrambled and shot down a “suspicious aerial target” that flew into Israeli airspace from Syria.
Israeli media citing the IDF believes that it was a drone, however, few details were given and the military says it is unclear precisely who was behind the attack.
Israel has said that both Hezbollah and Iranian officers and troops have long been present in Syria, and the Israel Defense Forces (IDF) strikes their positions at least on a weekly basis at this point. Syria did near the start of the Gaza war, within days after the Hamas Oct.7 attack, fire rockets into the occupied Golan Heights territory, but that was essentially a one-off.
Fears persist that the ongoing Hezbollah-Israel fighting along the southern Lebanese border could at any moment spill over into a bigger regional conflict that would certainly have immediate impact on Syria and the Golan.
As for fighting in Lebanon, Israeli media has tallied, “Hezbollah has named 232 members who have been killed by Israel during the ongoing skirmishes, mostly in Lebanon but some also in Syria. In Lebanon, another 37 operatives from other terror groups, a Lebanese soldier, and at least 30 civilians, three of whom were journalists, have been killed.”
On Sunday, Arab media sources did claim a new development which suggests escalation. Hezbollah said it struck Israeli ground forces on Lebanon’s own territory, which suggests an ‘invasion’ or border breach of some kind was attempted:
Hezbollah claimed to thwart two separate Israeli attempts to enter Lebanese territory late Sunday evening, saying it struck Israeli soldiers “directly” with rockets and artillery shells.
According to a statement by the group, two groups of Israeli forces attempted to cross into Lebanese territory from the town of Ramya along the central part of the Lebanese border and the town of Rmeish in the west.
The two infiltration attempts occurred within half an hour of one another.
If accurate, this would mark the first instance of Israeli troops attempting to enter Lebanon since that start of the conflict which began in the aftermath of Oct.7.
Fresh Hezbollah missile attacks have left towns across northern Lebanon without power…
Any potential scenario where Israel were to move ground troops into southern Lebanon would likely spark a bigger war with Hezbollah, which could engulf all of Lebanon. Already Israel has launched airstrikes deep into Lebanese territory, including all the way up to the Bekaa Valley.
END
IRAN/THE WEST
Iranian ‘Spy Ship’ In Spotlight After Undersea Data Cables Linking Continents Severed
TUESDAY, MAR 05, 2024 – 09:20 PM
In a statement on Monday, Hong Kong-based HGC Global Communications revealed that four undersea communications cables in the Red Sea were severed, impacting about a quarter of the data transmission between Asia and Europe. The incident occurred one week ago, with the full extent of the damage only now coming to light.
The cut data cables include Asia-Africa-Europe 1, the Europe India Gateway, Seacom and TGN-Gulf, HGC Global said, adding this is “estimated impact 25% of traffic – around 15% of Asia traffic goes west-bound, while 80% of those traffic will pass through these submarine cables in the Red Sea.”
HGC said it had taken measures to “successfully devised a comprehensive diversity plan to reroute affected traffic.”
What severed the undersea cables remains unclear – and there are mounting concerns that Iran-backed Houthis were part of the attack. But in recent days, the rebels have denied attacking the lines.
AP News quoted a US government official who said an investigation is underway to determine the cause of the cable cuts. The official said the investigation will decide whether it was an intentional act or an accident involving an anchor.
However, some believe the Houthis are not the most capable group in the region to conduct such an attack; in fact, it might be Iran.
“Cutting off critical lines communications and driving up the costs of everything from internet to oil across the Middle East is a clearly articulated economic warfare goal of the IRGC Qods Force. Iran seeks to undermine global access to the region as part of its cost-imposition strategy,” said David Asher, a senior fellow at Hudson Institute.
Asher said: “The Qods Force is operating a spy ship called the Behsad that is reportedly in the Gulf of Aden, not far from where the undersea cables were cut. This ship highly likely carries a Qods Force special underwater warfare force component more than capable of carrying out an undersea cable attack.”
Bloomberg data shows that the Behshad, an Iranian vessel in the Red Sea, was in the region around the time the incident occurred last week.
He pointed out: “The world should expect to see an uptick in Iranian covert direct action operations alongside proxy warfare with the Houthis and Hezbollah activities in the coming months.”
The IRGC’s goal to covertly spark chaos in the Middle East has boosted crude prices and allowed Tehran to collect $90 billion in illicit oil sales under the Biden administration.
“Iran has managed to sell $90 billion worth of U.S.-sanctioned oil, setting new export records in the process,” according to the latest figures published by United Against a Nuclear Iran.
UANI continued:
“The administration has not published a correspondingly detailed report with respect to Iranian oil exports—despite the equally vital role oil sales play in funding Iran’s malign activities: sponsorship of terrorism, development of WMDs, and domestic repression. There is a conspicuous absence of robust pronouncements and clear-eyed reasoning with respect to Tehran and its oil.”
With the matrix of attacks from commercial shipping vessels disrupting global trade to now cut undersea cables disrupting data transmission between continents, the Red Sea crisis is only accelerating, and investors are ignoring all risks.
END
HOUTHIS/WEST
Biden’s stupid policies are responsible for this;
(zerohedge)
Fatalities Reported, Crew Abandons Ship After Houthi Missile Attack; US & Allies Sending Warships
WEDNESDAY, MAR 06, 2024 – 01:45 PM
Attacks on commercial vessels in the Red Sea continue to escalate and risk sparking a regional conflict as President Biden’s Operation Prosperity Guardian to shield ships from Iran-backed Houthi attacks miserably fails. The latest incident involves a commodity ship hit by at least one anti-ship ballistic missile in the Gulf of Aden, close to the Bab al-Mandab Strait, marking the first fatality of crew members of the multi-month Red Sea crisis.
“Two killed and six injured in a Houthi missile strikes on the MV True Confidence, a Liberian-owned vessel, in the Red Sea today, per two US officials,” Politico’s Pentagon reporter Lara Seligman posted on X.
Seligman said, “These are the first fatalities of the Houthi campaign against international shipping since November.”
Post
Conversation
A US Department of Defense source told the journalist that “no Americans were on board” the vessel at the time of the incident.
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There were no Americans onboard, but the incident “speaks to how the Houthis are terrorizing international commercial shipping,” per U.S. official
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“The 23 crew members were forced to abandon the ship, which was damaged but has not sunk yet,” she said.
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Conversation
There were no Americans onboard, but the incident “speaks to how the Houthis are terrorizing international commercial shipping,” per U.S. official
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4,392 Views
Seligman added: “Coalition warships have responded and are assessing the situation,” including an “American guided-missile cruiser.”
Maritime tracking data via Bloomberg shows True Confidence abruptly turned before the Bab al-Mandab Strait on Tuesday, around 1900 local time. There is reason to believe the missile attack was around that time.
Responding to the latest vessel incident, David Asher, a senior fellow at Hudson Institute, explained:
“The Houthis are bought, paid for, and directed by Tehran, and are upping the terrorist ante by seeking to shut down the Red Sea. Tehran sees weakness in the US government and indifference among the Europeans (who rely on these cargos). It’s a recipe for a widening zone of conflict that likely will spread into the Persian Gulf.”
The rapidly expanding Red Sea crisis comes days after the bulk carrier Rubymar sunk after being hit by missiles last month, and a suspected Iranian ‘spy ship’ was lingering around the area where undersea communications were severed.
end
EGYPT
We pointed out to you on several occasions, the lack of usa of the Suez Canal caused huge shortfall in revenues for Egypt. They were forced to devalue their currency trying to stave off default.
(zerohedge)
As Egypt Implements Massive Devaluation Of Currency, Sending Pound Tumbling, Unrest & Instability On Horizon
WEDNESDAY, MAR 06, 2024 – 12:45 PM
The Egyptian pound crashed Wednesday as the government initiated a devaluation of more than 38%, while also hiking interest rates, in order to attract billions more in loans from the International Monetary Fund (IMF).
Already with one of the world’s highest levels of foreign debt, Egypt is trying to avoid potential default in the coming years, and has been propped up by loans and central bank deposits from Persian Gulf states and the IMF. Like other governments in the region, particularly Lebanon, Egypt has long had a severe shortage of foreign-currency reserves, resulting in the Central Bank of Egypt artificially propping up the pound’s value, leading to a robust black market exchange.
The central bank announced Wednesday, “The unification of the exchange rate is crucial, as it facilitates the elimination of foreign-exchange backlogs following the closure of the spread between the official and the parallel exchange-rate markets.” It will allow “the exchange rate to be determined by market forces.”
The statement said it further raised the overnight lending rate to 28.25% and its overnight deposit rate to 27.25%, and crucially that it would let the Egyptian pound trade freely on international markets, in a bid toward quashing inflation.
The central bank said of its drastic moves that they are “backed by the steadfast support of multilateral and bilateral partners” and that “sufficient funding has been secured to avail foreign exchange liquidity.”
Last month we previewed the $35 billion deal that will see the United Arab Emirates develop a sprawling portion of prime Mediterranean coast in Egypt’s northwest. It marks the largest foreign direct investment in an urban development project in the country’s modern history. This expected windfall of foreign exchange is badly needed as local businesses have been suffering and the cost of imported goods has soared.
Economic conditions have only steadily worsened by the increasing strain of over five months of war in neighboring Gaza, amid an ever-present risk that all of this together could fuel popular unrest and destabilization in northern Africa’s most populace country.
The Wall Street Journal noted, “The market reaction was swift, as Egypt’s pound lost more than half its value against the U.S. dollar, and was trading at around 48.0, compared with 30.9 at Tuesday’s close.”
So a big question will remain whether the inflation surge will lead to a spike in local instability at a very delicate geopolitical moment. The Sisi government and military deep state has long been propped up by Washington, in order to ensure the Camp David Accords and historic peace with Israel; however, the opposition and outlawed Muslim Brotherhood and its ultra-conservative Islam still holds sway over huge swathes of the population.
Another big deval for Egypt was inevitable and it finally came today. Here’s the thing. If Egypt now repegs $/EGP at 50 (blue), this is all for nothing. Inflation will push up the real exchange rate (black), as after every previous deval, and Egypt will need to deval yet again…
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111K Views
Simmering anger on the Egyptian street over Israel’s military actions in Gaza, and soaring civilian death toll, could when combined with the inflationary surge unleashed by these major reform steps could boil over into anti-government unrest. Though talks are ongoing, Egypt’s bailout deal with the IMF is expected to exceed $10 billion. The aforementioned major UAE deal was a big catalyst in moving the IFM deal forward, coupled now with the planned currency devaluation.
SYRIA/IRAQ/IRAN VS CHINA-RUSSIA
Discussions to set up joint free zone between Iran, Syria, and Iraq – Syrian Arab News Agency
This is a move to watch as this will become part of the Middle East Silk Road that will unite goods from China and Russia and India into this block. This will also further investment from these three to the demise of American hegemony in the region.
It is only a matter of time.
UKRAINE VS RUSSIA/ODESA
this is big news; Russia will now try and take Odesa so that they can build a land bridge to Transnistria.
Russian strikes slam into Ukrainian port city of Odesa during visit by Zelensky, Greek PM
By AFPToday
Explosions rang out in Ukraine’s southern port city of Odesa on Wednesday during a visit to the Black Sea hub by President Volodymyr Zelensky and Greek Prime Minister Kyriakos Mitsotakis, the pair tell reporters.
“We heard the sound of sirens and explosions that took place near us. We did not have time to get to a shelter,” Mitsotakis says according to an official Ukrainian translation.
“It is a very intense experience… It’s really different to read about the war in newspapers, and to hear it with your own ears, see it with your own eyes,” he adds.
Zelensky says the strike had left “dead and wounded” but he did not have figures.
“You can see who we are facing. They don’t care where they strike,” he says in a joint press conference.
Both were visiting the southern port city of Odesa, which has been under renewed fire ever since Russia exited an agreement protecting Ukrainian exports via the Black Sea in the summer of 2023.
END
Assassination Attempt On Zelensky? Russian Missile Strikes Near President’s Motorcade While In Odesa
WEDNESDAY, MAR 06, 2024 – 01:00 PM
Ukraine’s key southern port city of Odesa has been coming under increased Russian drone and rocket attack of late, resulting in fears that Moscow could possibly be eyeing its takeover next.
It’s perhaps for this reason that President Volodymyr Zelensky made a visit Wednesday to the Black Sea hub. In a bit of risky move, the Ukrainian leader brought along Greek Prime Minister Kyriakos Mitsotakis for the official visit. Russia reportedly sent missiles or drones against the city at the very moment of their visit.
Zelensky and Mitsotakis said explosions rang out while they toured Odesa. “We heard the sound of sirens and explosions that took place near us. We did not have time to get to a shelter,” Mitsotakis told reporters. There are emerging reports that this was an “assassination attempt”.Ukrainian Presidential Press Service/Reuters/CNN: “Zelensky said the missile struck close to where he had been meeting with Mitsotakis, 3rd from right.”
“It is a very intense experience… It’s really different to read about the war in newspapers, and to hear it with your own ears, see it with your own eyes,” he added.
Zelensky in turn said before a press conference that he’s heard initial reports of “dead and wounded” from Wednesday’s fresh Russian strike. “You can see who we are facing. They don’t care where they strike,” he told reporters.
Some online pundits are going so far as to call it an ‘assassination attempt’ targeting Zelensky, given some reports say one of the strikes hit very near where the pair were visiting. According to Politico:
An explosion rocked the Ukrainian port city of Odesa on Wednesday during a top-secret visit there by Ukrainian President Volodymyr Zelenskyy and Greek Prime Minister Kyriakos Mitsotakis.
The blast, caused by a ballistic missile, took place a few hundred meters away from the leaders’ motorcade, a Greek official who was not authorized to speak publicly confirmed to POLITICO.
Greek State Minister Stavros Papastavrou, a top aide to Mitsotakis, confirmed to domestic media that there are no injuries among the Greek delegation following the explosion.
And The Washington Post has bluntly stated, “A Russian missile strike appeared to target Ukrainian President Volodymyr Zelensky on Wednesday, landing near his motorcade in the Black Sea port city of Odessa, where the president was meeting with Greek Prime Minister Kyriakos Mitsotakis.
While it could be that they are playing it up for drama and sympathy, PM Mitsotakis appaered to confirm that the explosion was close. “Shortly afterwards, as we were getting into our cars, we heard a big explosion,” he said. Greek officials told the Protothema news out that a missile landed and exploded merely about 500 feet away.
“This is one more reason why all European leaders should come to Ukraine. Because it is one thing to hear the description from the media or from President Zelenskyy and it is quite another to experience the war first-hand,” he continued.
Though perhaps a premature conclusion, this is what some pundits are saying in the wake of the new Odesa attack…
BREAKING: ASSASSINATION ATTEMPT ON ZELENSKY Russian forces allegedly launched missiles at Zelenskyy’s convoy, reportedly missing their target by approximately 150 meters. He allegedly was en route to a meeting with the PM of Greece when the attack unfolded. This is reportedly the 6th attempt to assassinate Zelensky. Source: ABC Credit:
Photo: Archived
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228.8K Views
As for Zelensky, there’s as yet no indication from his office that he was targeted by Russia in an assassination attempt, but he has condemned the strikes, especially given it happened at a moment the two heads of state were physically there. Zelensky was not harmed, nor were any staff members in either delegation.
He said of Russian forces, “They have either completely lost their minds or just don’t control what their army is doing. This is why we need protection. Air defense systems are the best way.” Kiev has been urging the West to immediately send more anti-air systems after a series of deadly attacks on Odesa. On Saturday a wave of Russian drone and artillery strikes reportedly killed at least 11 people in Odesa, some of them women and children.
6.Global Issues//COVID ISSUES
COVID ISSUES/VACCINE ISSUES//DRUG ISSUES
Much Stronger Than Fentanyl, Nitazene Presents A Looming Crisis
TUESDAY, MAR 05, 2024 – 11:00 PM
Authored by George Citroner via The Epoch Times (emphasis ours),
A new killer has emerged in the illegal drug market, leaving a trail of bodies in its wake. Synthetic opioids called nitazenes—up to 20 times more potent than fentanyl—have infiltrated street drugs from heroin to benzodiazepines, catching unsuspecting users in a web of addiction and overdose (OD) death.
These opioids have evaded authorities and fueled a silent epidemic, presenting novel dangers law enforcement is only beginning to grasp.
No Medical Use, High Addiction Risk
Nitazenes belong to a class of synthetic opioids called isotonitazenes, or ISOs. These compounds have gained attention due to their powerful painkilling properties. First developed in the 1950s, nitazenes were never approved for medical use and long remained obscure, known only in academic circles.
A defining trait of nitazenes is their extremely high potency—hundreds to thousands of times more potent than morphine and other older opioids and 10 to 20 times more powerful than fentanyl, which is already fueling the nation’s current drug crisis.
Although it’s theorized that these compounds are coming from China, “nobody really knows for sure,” Dr. Jarid Pachter from Stony Brook Medicine, who specializes in family medicine and addiction medicine, told The Epoch Times.
So far, 20 distinct types of nitazenes have been detected in illegal street drugs, turning up with increasing frequency. As Schedule I drugs in the United States, a class that includes drugs with no accepted medical use and high abuse and addiction potential, all nitazenes are illegal.
Nitazenes are being used to spike and strengthen illegal drugs while also making them cheaper to produce, according to the U.S. Drug Enforcement Administration (DEA). But this chemical tampering has already led to deadly overdoses.
UK Sounds Alarm on Spiking of Drug Supplies With Nitazenes
Like the United States, the UK is grappling with its own drug crisis. Recently, nitazenes have been detected in substances peddled as other opioids, benzodiazepines, or cannabis products.
Data from Scotland’s Rapid Action Drug Alerts and Response (RADAR) early warning system showed nitazenes directly caused 25 deaths between 2022 and 2023—compared to none before—identified in postmortem toxicology tests.
“Because nitazenes have been found in various street drugs like benzodiazepines and fake pharmaceuticals, people may not be aware they are taking nitazenes or the increased risk,” Dr. Tara Shivaji, a consultant in public health medicine at Public Health Scotland, said in a press statement. Compounding the risk, the concentration of drugs in tablets, powders, and blotters can fluctuate dramatically even within the same batch, she noted.
Nitazenes Need Multiple Naloxone Doses
Synthetic opioids, including the nitazene class, are among the fastest-growing opioids that are causing emergency hospitalizations for overdoses.
However, evidence suggests that nitazenes inflict more severe health impacts. Most patients overdosing on nitazenes or other novel opioids need two or more naloxone doses, whereas fentanyl overdoses require just one, according to research published in JAMA Network Open.
Their extreme potency and pharmacological profile also heighten overdose and death risk, especially when combined with other central nervous system depressants like benzodiazepines or alcohol.
“The risk is that you can not only have a horrible substance use disorder, but you can die of an overdose,” Dr. Pachter said.
Over 100,000 Overdose Deaths in 2023 Alone
Opioids have driven a growing share of overdose deaths since 2009, accounting for nearly 71 percent of all fatal ODs in 2019. Provisional data from the U.S. Centers for Disease Control and Prevention (CDC) show over 106,000 overdose deaths nationwide through September 2023—an undercount due to incomplete reports.
Over 40 percent of American adults know someone who fatally overdosed, according to a recent survey by the RAND Corporation, a think tank. Additionally, 13 percent said an OD death substantially disrupted their life.
With so many synthetic drugs and unpredictable combinations, buyers can never know precisely what they’re getting, DEA Intelligence Analyst Maura Gaffney said in a press statement.
GLOBAL ISSUES
MARK CRISPIN MILLER
Pope Francis cancels audiences; comedian Fiorello, Rai presenter Francesca Fialdini both collapse on live TV; Katia Follesca collapses on stage; Indian financier Nithin Kamath has stroke
Singaporean singer Sabina Yasmin “diagnosed with cancer again”; NZ radio announcer Mike Puru “opens up about his dad’s terminal cancer”; & more
| MARK CRISPIN MILLERMAR 6 |
ITALY
Pope Francis abruptly cancels audiences amid ‘mild’ health issue
February 24, 2024
Pope Francis has cancelled some of his Saturday engagements because of a health issue, the Vatican has said. The pontiff called off his engagements because of a “mild, flu-like state,” an update from the Holy See Press Office said. The Vatican addedon February 24 that the day’s engagements had been cancelled, but that this was a preventative measure. Holy See Press Office Director Matteo Bruni said the weekly Sunday Angelus address had not yet been confirmed. Pope Francis, 87, has suffered recent health issues including breathing problems, which he is prone to because of a bout of pneumonia in his youth in Argentina that led to the removal of part of his lung. The pontiff had to cancel a planned visit in December last year to the COP28 climate meeting in Dubai due to lung inflammation. In March last year, Pope Francis was treated at a hospital in Rome for bronchitis. Following his release from hospital in early April, the Pope said he “wasn’t frightened,” followed by “I’m still alive you know.”
Link
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“I can’t breathe”, Fiorello is sick during the live broadcast of Viva Rai2 and asks to stop the broadcast
February 26, 2024
The comedian is certainly one of the most loved in the Italian show business, and has been able to attract the attention of the general public. Fans can not help but attend his many performances and follow him in all his television and theater projects. In fact, his Viva Rai 2 program has become very famous, with which he has achieved great success attracting the attention of thousands of people throughout Italy. The event happened during the episode of Viva Rai 2 aired on Monday 26 February. Between a laugh and the other, there was an unexpected event that sent all the viewers into alarm, as well as the faces of the cast of the program. In fact, Fiorello began, suddenly, to cough and this did not allow him to even speak. “Sorry, something went wrong with me,“ he said, asking for be punched in his back. Now the news will come out that I die live“, continued the showman. “I don’t know what it is. Can you send an advertisement? Don’t we have a sign that says ‘the transmission will be resumed in a while’? Because I can’t breathe“. The producers of the program aired the interruption requested by Fiorello, that is, a blue screen with a white inscription that warned the public that the program would start again a short time later. Fiorello drank a glass of water and, soon after, he already felt much better.
Illness live for the Rai presenter: Left side blocked, stops everything, fails to finish the interview
February 26, 2024
The presenter Francesca Fialdini, one of the faces of the television channel Rai, had an illness – live. In the episode of Sunday, February 25, the blonde presenter, always smiling, interviewed her guests while sitting, without being able to get up. The audience immediately understood that something was wrong, then, in the middle of the episode, during the interview with Alba Parietti, the presenter told what happened to her: “I’m stuck, so you will turn the wheel for me. I’m stuck by the neck … the whole left side”. Despite the pain and discomfort, Fialdini continued to lead with great professionalism.
Sudden illness on stage for the VIP of Mediaset, “Thanks to the rescuers of 118”. How is the famous actress now?
February 26, 2024
Now the alarm has turned off, but there were moments of panic for Katia Follesa, 48 years old, and her audience. On stage at the Orfeo theater, the comedian, radio host, and known face of Mediaset, collapsed on stage, a victim of one of those “sudden illness” that seem to have become the norm. And this time, fortunately, without serious consequences. Katia reassured everyone with a post on her Instagram profile: “I’m really sorry, I apologize immensely to the Taranto audience.” What happened: The show lasted a few minutes because the illness intervened almost immediately. Obviously many were worried about the actress. Thus, Katia Follesa has intervened again on Instagram to reassure about her health condition, as we read on the Tag24 portal. The actress, in a story, said: “I’m a little better! Thanks”, but she preferred not to dwell on the details of what happened.
Woman complains of an illness at home: 70-year-old in serious condition
March 1, 2024
Today, Friday 1 March 2024, in Appiano Gentile, in via Como, a 70-year-old woman suffered a sudden illness while she was inside her home. The Appiano firefighters intervened promptly on the scene and had to enter the house through a window to rescue the woman. The woman, found lying on the ground, was immediately found to be in serious health conditions. After the first manoeuvres, in fact, she was entrusted to the 118 healthcare staff who returned to hospital with the utmost urgency.
Sudden illness, soccer player collapses on the field. Saved by opponents
February 28, 2024
Moments of terror during a soccer match. A kind of news that, unfortunately, we are forced to report more and more often. This time to be hit by a sudden illness, which could have resulted in tragedy, was a young player engaged in an Under 14 years match. Which makes it all the more dramatic, because among young kids, these events shouldn’t happen so often. Instead, during the match between Athletic Soccer Academy and Riano Calcio, two teams of the Roman youth circuit, a boy playing in the Riano suddenly collapsed to the ground. Not in a condition of effort, but while watching an action of his companions. The worst has been feared, also because cases of illness among children of that age are (or should be) very rare. Fortunately, the managers and medical staff of the home team intervened promptly to rescue the victim of the illness. And their intervention avoided worse consequences. “Riano Calcio”, reads a statement of the company hosted, “thanks to the company Athletic Soccer and the general manager Fabio Leonardi for the assistance and care given to our player who has suffered a disease. A special thanks goes to Mrs Laura Barcella, who with her intervention has avoided worse consequences for the athlete”. A happy ending in the name of fair play that does not erase the concern for the too frequent occurrence of events of this type.
No age reported.
Sudden illness at school: young teacher rescued by ambulance
February 26, 2024
Brescia (Lombardy) – There were moments of excitement at Leno Elementary School, due to the sudden illness of a 42-year-old teacher. The 112 distress call was made around 12:40 today, Monday 26 February. Initially, an ambulance and a medical car arrived with sirens, then the helicopter was requested. After the first treatment on the spot by the doctors, the woman was flown to the Civil Hospital of Brescia, where she was admitted in code yellow. At the moment, her condition does not seem to cause too much concern; in the next few hours, the teacher will be subjected to all the investigations of the case.
INDIA
Anything but the vaxx:
Zerodha founder Nithin Kamath suffers mild [stroke]: Doctor says sleep deprivation, over-exercising may be the reason
February 26, 2024
Nithin Kamath, co-founder of Zerodha, disclosed in a tweet on Monday (February 26, 2024) that he suffered a mild stroke six weeks ago. He added that he went from “having a big droop in the face and not being able to read or write, to having a slight droop but being able to read and write more.” Kamath tweeted on Monday, “Around 6 weeks ago, I had a mild stroke out of the blue. Dad’s death, lack of sleep, weariness, dehydration, and overwork are all plausible causes.” Notably, one of the doctors from the Apollo Hospital, Hyderabad, Dr Sudhir Kumar, suggested over-exercising could primarily be the reason for the stroke. “At age 44, one of the fittest persons, Nithin Kamath suffered a minor stroke, but glad to note that he is making a swift recovery, and I wish him a superfast and complete recovery. He has rightly recognized 5 likely risk factors that could have caused his stroke: Stress (of losing his father), Sleep deprivation, Over-exercising (over-working out), Exhaustion (related to work commitments and workouts), and Dehydration,” he said. “It is important to exercise in moderation (and not over-exercise), ensure adequate sleep, and cut down on work (if one is over-working). Exercising and being fit are good, as has been proved by Nithin Kamath. Despite suffering from a stroke, it was a milder one, and he is on the road towards complete recovery,” he added.
SINGAPORE
Sabina Yasmin diagnosed with cancer again
February 24, 2024
In 2007, legendary singer Sabina Yasmin was diagnosed with cancer. She then had to battle the deadly disease for a while before conquering it and returning to the stage. After 17 years, it has been learned that she has been diagnosed with cancer again. She is now under treatment at the National Cancer Center of Singapore General Hospital. The artiste’s close family member has confirmed the news to the media stating that towards the end of last year, the 14-time National Film Awardee Sabina Yasmin developed some complications in her body. Subsequent examinations confirmed that the cancer had recurred in her body. She was taken to Singapore in the first week of February. The source also shared that Sabina has already undergone surgery on her mouth, and the therapy will begin shortly. In 2007, the singer was first diagnosed with oral cancer. At that time, she received treatment from domestic and international hospitals and returned to a normal life. From then on, she was doing well through regular check-ups.
No age reported.
S’pore boy, 9, suffers mild stroke after heart failure, needs S$190,000 for medical bills
February 25, 2024
A nine-year-old boy in Singapore spent nine days in the intensive care unit (ICU), after the onset of a frightening health condition. Matt Aeron Semodio, described as a “beacon of joy” to all who know him, is now on the road to recovery. While relieved, his family now has to foot a hefty bill of S$190,000 for his medical treatment. The family’s ordeal began on Jan. 4, 2024, related the boy’s godmother on Give.Asia. Semodio became troubled by unusual fatigue and drowsiness, having to sleep multiple times in the day. His condition worsened even after a visit to a general practitioner that evening. He was rushed to the Children’s Emergency at KK Women’s and Children’s Hospital (KKH) after the onset of severe chest pains. Semodio was admitted into the ICU in the early hours of Jan. 5. He was diagnosed with myocarditis, which refers to the inflammation of the heart muscle. His heart function plummeted, leading to a cardiopulmonary collapse, otherwise known as heart failure. According to Shin Min Daily News, the boy suffered a cardiac arrest while undergoing intubation, a process whereby a tube is inserted through the mouth or nose, and down the airway. He needed to be put on life support. The kid fought for his life as he underwent several procedures and interventions. The diagnosis of his Covid-19-positive status further complicated his critical condition. After nine days in ICU, his heart showed signs of recovery, so much so that he could do away with life support on Jan. 16. He was later extubated and taken off dialysis. Even though he suffered a mild stroke which affected movement in his left side, the day was still a triumphant one for him. Despite challenges, such as delirium and water retention, “his family is more optimistic than ever about his eventual return home”, said his godmother.
NEW ZEALAND
Mike Puru opens up about his dad’s terminal cancer: ‘He’s a fighter’
February 25, 2024
Auckland – In a small table, amongst the background chatter of a crowded Auckland waterfront cafe, radio announcer Mike Puru admits his dad’s terminal cancer diagnosis has forced him to reassess his priorities. Puru, who I met properly just 30 minutes earlier, welcomed me with a warm hug, and a smile. The broadcaster has spoken previously about his father, Wayne, being unwell, but now explains he has stage 4 terminal cancer of the liver and bowels. The diagnosis, he says, came “out of the blue”. It’s news that Puru says has him focusing more on what’s important, admitting he loves his family “to bits”, but “we don’t hang out a lot”. “It’s gutting for Mum and Dad,” Puru says of his parents, who met when they were “very young” and recently became great-grandparents. Wayne’s diagnosis came after he’d been feeling unwell towards the end of 2023, and with the liver being “inoperable” it’s now a “waiting game to see what happens next”. Still, Puru – always with that warm smile – is touching wood, crossing fingers and remaining positive (“It’s all you can really do”). “He’s a fighter.”
No age reported.
Swimmer suffers heart attack off Maraetai Beach – why the symptoms shocked her
February 24, 2024
East Auckland – Raewyn Shaw was more than 200 metres offshore when she felt physically unable to swim another stroke. She was having a heart attack, not that she realised – there was no pain, and the loss of energy and urge to cough were the only symptoms. It was mid-afternoon on Labour Day 2023. The 59-year-old caregiver had gone to Maraetai Beach in East Auckland, after attending to a nearby 91-year-old client. In the shallows Shaw tried to walk, but her legs – starved of oxygen – were jelly. An ambulance arrived and paramedics confirmed she’d had a heart attack – shocking Shaw, who’d always assumed chest pain would accompany one. It was also surprising to Clemmet and Swart, who learned of the diagnosis later that day. A heart attack hadn’t crossed their minds.“She just said she was struggling to breathe. And it was as if she wanted to vomit. We assumed she might have swallowed water,” Clemmet said. “She didn’t once say her chest was sore … we honestly thought she was having an asthma attack.”
DR PAUL ALEXANDER
DR. JOSEPH SANSONE, BREAKING!! files Writ seeking court intervention! Writ of Mandamus Filed in Florida Supreme Court, Seeks to Compel Governor DeSantis, and Attorney General Ashley Moody, to Ban the
mRNA COVID gene injection! Case # SC2024-0327; Mandamus seeks to compel Governor Ron DeSantis & Attorney General to prohibit distribution of ‘COVID 19 injections’ AKA ‘COVID-19 nanoparticle injections
| DR. PAUL ALEXANDERMAR 6 |
Mind Matters and Everything Else with Dr. Joseph Sansone
Case # SC2024-0327 was filed in the Supreme Court of Florida. As a pro se litigant I filed a Writ of Mandamus with the Supreme Court of Florida. This Mandamus seeks to compel Governor Ron DeSantis and Attorney General Ashley Moody to prohibit the distribution of ‘COVID 19 injections’ AKA ‘COVID-19 nanoparticle injections’ or ‘mRNA nanoparticle injection…
20 hours ago · 384 likes · 123 comments · Dr. Joseph Sansone
‘Case # SC2024-0327 was filed in the Supreme Court of Florida. As a pro se litigant I filed a Writ of Mandamus with the Supreme Court of Florida. This Mandamus seeks to compel Governor Ron DeSantis and Attorney General Ashley Moody to prohibit the distribution of ‘COVID 19 injections’ AKA ‘COVID-19 nanoparticle injections’ or ‘mRNA nanoparticle injections’ in the State of Florida.
Approximately 10 Florida County Republican parties have declared Covid 19 injections to be biological and technological weapons, have called on the Governor to halt these injections, and for the Attorney General to conduct a forensic analysis of their contents. The Florida Department of Health has also called for a halt to these injections.
SLAY NEWS
| The latest reports from Slay News |
| Expert Warns of Secret Plan to ‘Ration’ Meat to ‘Fight Climate Change’A leading American green agenda expert has raised the alarm about secret government plans to eliminate meat from the food supply in order to supposedly stop the so-called “climate crisis.”READ MORE |
| Belarus Leader Claims IMF & World Bank Offered Him Huge ‘Bribe’ to Enforce Covid RestrictionsBelarus President Aleksandr Lukashenko has claimed that he was offered almost $1 billion in bribes from the International Monetary Fund (IMF) and the World Bank to intentionally destroy his own economy and force major restrictions on his citizens during the Covid pandemic.READ MORE |
| Jonathan Turley: Supreme Court Ruling ‘Shattered’ Democrats’ ‘Insurrection’ NarrativeConstitutional law scholar Jonathan Turley has asserted that the Democrats’ “insurrection” narrative against President Donald Trump has now been “shattered” by the Supreme Court’s unanimous ruling.READ MORE |
| Soros-Funded LA DA Gascon Hit with 11 Primary Challengers amid Soaring CrimeLos Angeles County’s far-left District Attorney George Gascón has been hit with a whopping eleven primary challengers in his desperate bid for re-election.READ MORE |
| Nikki Haley Declares She Will Not Abide by Republican Loyalty PledgeRepublican presidential candidate Nikki Haley has now declared that she will not abide by the loyalty pledge that she took when she entered the GOP’s 2024 primary debates. READ MORE |
| Another Link Between Biden and Get-Trump DA Fani Willis EmergesAnother fresh link has now emerged between Democrat President Joe Biden and Georgia’s Fulton County District Attorney Fani Willis.READ MORE |
| Hunter Biden’s Chinese ‘Client’ Demands $1 Million Refund, Threatens LawsuitIn a huge blow to the Bidens’ narrative, Hunter’s Chinese Communist Party-linked former client is demanding a refund on a $1 million payment he made to the first son for “services.”READ MORE |
| Maine’s Democrat SOS Issues Humiliating Retraction on Trump Ballot DecisionMaine’s Democrat Secretary of State Shenna Bellows has been forced to issue a humiliating retraction of her decision to remove President Donald Trump’s name from the 2024 Republican primary ballot.READ MORE |
| New MLB Manager Immediately Reverses San Francisco Giants’ ‘Woke’ National Anthem PolicyThe new manager of the San Francisco Giants has immediately reversed the team’s “woke” policy on protesting the national anthem.READ MORE |
| Illegal Alien Charged in NYC Attack on Police Is Cleared of Wrongdoing by DA Alvin BraggAn illegal alien, who was charged with kicking a police officer during the recent attack that took place in New York City’s Times Square, has been cleared of wrongdoing. READ MORE |
| Trump Sends Message to Biden after Supreme Court Ballot Ruling: ‘Fight Your Fight Yourself’President Donald Trump has delivered an address in response to the U.S. Supreme Court’s decision on his eligibility to be only 2024 ballots.READ MORE |
| Biden Admin Accused of Influencing Google’s Biased Gemini AI, House Republicans Demand AnswersAllegations have emerged that Democrat President Joe Biden’s administration influenced Google’s decision to develop its controversial artificial intelligence (AI) program Gemini with an anti-white bias.READ MORE |
| Biden Pumps $2 Million Taxpayer Cash into Tackling HIV among ‘Racially Diverse Transgenders in Deep South’Democrat President Joe Biden’s Department of Health and Human Services (HHS) has just announced plans to pour vast sums of taxpayer cash into a radical new scheme.READ MORE |
| EVOL NEWS: |
READ MORE…
LATEST NEWS:
Sudden Death Victims Are All Covid Vaxxed, Data Shows – EVOL
Read more…
Hunter’s Ex-Client Blows The Whistle… WOW – EVOL
Read more…
Democrat Who Kicked Trump Off Ballot Forced To Retract EVERYTHING – EVOL
Read more…
NBA Legend Threatens to Punch Black Trump Supporters – EVOL
Read more…
‘Laken Riley Act’ is Introduced in Congress. Here is What It Does – EVOL
Read more…
Trump wins the North Dakota Republican caucuses – EVOL
Read more…
Trump Attorneys Oppose New Gag Order, Say His Speech Deserves ‘Heightened Protection’ – EVOL
Read more…
With Trump Projected to Sweep Super Tuesday, Haley May Be Facing Her Last Stand – EVOL
Read more…
Court Steps In To Protect J6 Protesters – EVOL
READ MORE…
LATEST NEWS:
NEWS ADDICT
| LATEST REPORTS FOR NEWS JUNKIES |
| Sudden Death Victims Are All Covid Vaxxed, Data ShowsThe devasting surge in sudden deaths seen around the world has only impacted those who have received Covid mRNA shots, official data shows.READ THE FULL REPORT |
| Bill Gates Caught Bankrolling Lawmakers Pushing Support for WHOSeveral top lawmakers who have been instrumental in governmental support for the United Nations’ World Health Organization (WHO) are being secretly bankrolled by globalist billionaire Bill Gates.READ THE FULL REPORT |
| Leftists Melt DOWN After Supreme Court’s Bombshell RulingThe recent ruling by the Supreme Court regarding the eligibility of President Donald Trump to appear on the 2024 election ballot has been a significant development.READ THE FULL REPORT |
| Hunter’s Ex-Client Blows The Whistle… WOWA former Chinese government official, businessman, and Hunter Biden client, who served a three-year sentence in a U.S. prison for engaging in large-scale international bribery, is now threatening legal action against President Joe Biden’s son, as reported by New York Post columnist Miranda Devine on Sunday.READ THE FULL REPORT |
| Democrat Who Kicked Trump Off Ballot Forced To Retract EVERYTHINGShenna Bellows, the Democratic Secretary of State for Maine, has reversed her previous decision regarding President Donald Trump’s eligibility to appear on the state’s ballot.READ THE FULL REPORT |
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
END
7//OIL ISSUES//NATURAL GAS ISSUES//ELECTRICAL GRID ISSUES// RENEWABLE ENERGY ISSUES//USA AND GLOBE//GLOBAL SHIPPING
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
CANADA//UNBELIEVABLE
Eva Vlaardingerbroek on X: “
Christian persecution is about to be introduced in Canada: If passed, Bill C-367 could land Christians in jail for quoting the Bible or expressing a faith based opinion if the Canadian government deems it “promotion of hatred or antisemitism”. This is an absolute disgrace. https://t.co/Bq8zT8N3J9″ / X
ROBERT H
on this commentary….
”Unbelievable!
And you wonder why 423,000 Canadians left Canada for good last year? Soon there will be many more. Canada is already experiencing a brain drain where tomorrow’s executive class is leaving and not returning. Sadly Canada is not alone as this trend is occurring in other Western countries.
Maybe a conservative Federal election result will help stem this nonsense. Because if not then there be a far greater number of Canadians who will depart.
In every society through history where such activity commences it always leads to the downfall of a nation. Usually with a decade.”
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS WEDNESDAY MORNING 7;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0876 UP .0020
USA/ YEN 149.71 DOWN 0.336 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2728 UP .0025
USA/CAN DOLLAR: 1.3573 DOWN .0017 (CDN DOLLAR UP 17 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 7.86 PTS OR 0.26%
Hang Seng CLOSED UP 275.45 POINTS OR 1.70%
AUSTRALIA CLOSED DOWN 0.10% // EUROPEAN BOURSE: ALL MOSTLY MIXED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MOSTLY MIXED
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 275.45 PTS OR 1.70%
/SHANGHAI CLOSED DOWN 7,86 PTS OR 0.26%
AUSTRALIA BOURSE CLOSED UP 0.03%
(Nikkei (Japan) CLOSED DOWN 6.85 PTS OR 0.02%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2131.80
silver:$23.78
USA dollar index early WEDNESDAY morning: 103.55 DOWN 20 BASIS POINTS FROM TUESDAY’s CLOSE.
WEDNESDAY MORNING NUMBERS ENDS
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And now your closing WEDNESDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 2.985% UP 4 in basis point(s) yield
JAPANESE BOND YIELD: +0.711% UP 1 AND 8//100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.153 UP 2 in basis points yield
ITALIAN 10 YR BOND YIELD 3.653 DOWN 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.3285 UP 1 BASIS PTS
END
IMPORTANT CURRENCY CLOSES FOR WEDNESDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0903 UP 0.0047 or 47 basis points
USA/Japan: 149.39 DOWN .655 OR YEN IS UP 66 BASIS PTS
Great Britain/USA 1.2743 UP .0039 OR 39 BASIS POINTS //
Canadian dollar UP .0078 OR 78 BASIS pts to 1.3513
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The USA/Yuan, CNY: closed ON SHORE CLOSED DOWN AT 7.1982
THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.2083)
TURKISH LIRA: 31.76 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 3 in basis points from TUESDAY at 4.113% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield 4.267 DOWN 2 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.549 DOWN 1 BASIS PTS.
GOLD AT 10;30 AM 2146.80
SILVER AT 10;30: 24.18
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: WEDNESDAY CLOSING TIME 12:00 PM//
London: CLOSED UP 35.17 PTS OR 0.46%
German Dax : CLOSED UP 18.31 PTS OR 0.10%
Paris CAC CLOSED UP 21.92 PTS OR 0.28%
Spain IBEX CLOSED UP 83.20 PTS OR 0.82%
Italian MIB: CLOSED UP 217.48 PTS OR 0.66%
WTI Oil price 80,54 12: EST/
Brent Oil: 83.95 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 90.59; ROUBLE DOWN 0 AND 8//100
GERMAN 10 YR BOND YIELD; +2.3285 UP 1 BASIS PTS
UK 10 YR YIELD: 4.0395 DOWN 1 BASIS POINTS
CLOSING NUMBERS: 4 PM
Euro vs USA: 1.0895 UP .0039 OR 39 BASIS POINTS
British Pound: 1.2736 UP .0033 or 33 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.033 DOWN 1 BASIS PTS//
JAPAN 10 YR YIELD: 0.712%
USA dollar vs Japanese Yen: 149.39 DOWN 0.655//YEN UP 65 BASIS PTS//
USA dollar vs Canadian dollar: 1.3521 DOWN .0069 CDN dollar UP 69 basis pts)
West Texas intermediate oil: 79.02
Brent OIL: 82.77
USA 10 yr bond yield DOWN 3 BASIS pts to 4.110%
USA 30 yr bond yield DOWN 3 BASIS PTS to 4.248%
USA 2 YR BOND: UP 4 PTS AT 4.560%
USA dollar index: 103.35 DOWN 41 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 31.77 (GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 90.59 DOWN 0 AND 8/100 roubles
GOLD 2144.65 3:30 PM
SILVER: 24.15 3:30 PM
DOW JONES INDUSTRIAL AVERAGE: UP 80.18 PTS OR 0.21%
NASDAQ UP 119.71 PTS OR 0.67%
VOLATILITY INDEX: 14.42 DOWN .04 PTS OR 0.28%
GLD: $198.81 UP 1.62 OR 0.82%
SLV/ $22,10 UP ,43 OR 1.98%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
‘Bad Data’ Sparks ‘Buy All The Things’-Day, Despite Hawkish Powell
BY TYLER DURDEN
WEDNESDAY, MAR 06, 2024 – 04:00 PM
Bonds, big-tech, bitcoin, and bullion all rallied today as the dollar dived after disappointing jobs data and a no-less-hawkish Fed Chair Powell.
ADP and JOLTS both printed weaker than expected and the Beige Book signaled weakness for the consumer…
Source: Bloomberg
A new record high for spot gold prices…
Source: Bloomberg
As the dollar dived on a small rise in rate-cut expectations…
Source: Bloomberg
All the US Majors managed gains on the day but were well off the highs with The Dow lagging and Nasdaq and Small Caps leading…
Mag7 Stocks gave back their early day gains following a similar pattern to yesterday…
Source: Bloomberg
Bonds were mixed with the short-end lagging as the long-end saw yields 5-6bps lower on the day. On the week, 2Y remains the only segment higher in yield..
Source: Bloomberg
The 10Y yield hit a one-month low today…
Source: Bloomberg
Which has flattened the yield curve further…
Source: Bloomberg
After yesterday’s insane day in crypto, Bitcoin recovered a lot of its crash-from-record-high losses, back above $67,000…
Source: Bloomberg
Which should not be total surprise given yesterday saw MASSIVE net inflows into BTC ETFs…
Source: Bloomberg
Ethereum did even better, taking out yesterday’s high to trade above $3900…
Source: Bloomberg
Oil price ended higher but not before a good pump and dump intraday that lifted WTI above $80.50…
Source: Bloomberg
Finally, New York Community Bancorp was a total shitshow and deserves a section of its own. From $3.20 close to $1.70 lows… then Mnuchin and his hot wife stepped in at $2 and the stock ripped up to $4.40… only to sink back basically to unchanged…
Source: Bloomberg
What are the odds that a billion will solve their problem? Options traders dumped their puts on the news (and some calls were bought), but…
NYCB share price did not extend gains on the news or the cover? We’re gonna need a bigger boat.
MORNING TRADING
AFTERNOON TRADING/
II USA DATA
The private ADP employment report sees wage growth re accelerating. Labour market is strong according to ADP which usually provides an ebullient report
(ADP)
ADP Employment Report Sees Wage-Growth Re-Accelerating In Feb
WEDNESDAY, MAR 06, 2024 – 08:24 AM
Expectations were for a modest bounce in ADP’s Employment report data in February from +107k in January to +150k, but the data disappointed at +140k (from an upwardly revised +111k)…
Source: Bloomberg
“Job gains remain solid. Pay gains are trending lower but are still above inflation,” said Nela Richardson, ADP Chief Economist.
“In short, the labor market is dynamic, but doesn’t tip the scales in terms of a Fed rate decision this year.”
Job gains in Services once again dominated Goods-Producing firms, but both saw increases in February…
Source: Bloomberg
Mining and Information Services sectors saw job losses…
For job-changers, year-over-year pay gains were 7.6 percent, up from the prior month and the first increase since November 2022.
Pay gains for job-stayers continued to decelerate, reaching 5.1 percent, the smallest gain since August 2021.
Finally, we note that ADP has under-estimated BLS’s version of the truth for the last six months…and it’s getting worse.
Source: Bloomberg
So, with this kind of labor market, can The Fed maintain the illusion of rate-cuts at some point this year? What will Powell say today?
END
TUCKER CARLSON….
III USA ECONOMIC COMMENTARIES
Bitcoin Will Not Kill The US Dollar, The Government Will
WEDNESDAY, MAR 06, 2024 – 07:20 AM
In a recent interview with Seth Meyers, President Biden mentioned that the United States has the strongest economy in decades. However, the reality shows that the 2023 GDP growth adjusted for the accumulation of public debt was the worst since 1930. The U.S. national debt hit $32 trillion in June 2023 and surpassed $33 trillion in September. The U.S. national debt now stands above $34 trillion and is rising by $1 trillion every hundred days. The trend is exceedingly worrying because the next trillion comes faster every time, and all this is happening in an alleged recovery with strong employment growth and rising earnings.
Debt matters, and there is a reason U.S. citizens do not see such a positive picture. Negative real wage growth, diminishing purchasing power of salaries and savings, and a much tougher position for families to make ends meet.
MMT (Modern Monetary Theory) proponents defend that the government can run massive deficits if it needs to, and its only constraint is inflation. Reality shows that the government continues to spend regardless of an official accumulated inflation of 20% in four years and that it only uses any excuse to spend more than it collects despite rising tax receipts. The government does not reduce the deficit when inflation kicks in and continues to pass on the burden of debt and rising prices to families. MMT is simply an ideological trick to allow the government to do what it wants with fiscal policy, only to find that there is no turning back when the disastrous results become apparent.
Inflation is evidence of monetary mismanagement and persistent inflation is proof that the last economic agent that we should trust to defend the currency is the government.
No government truly defends the status of its currency as a reserve of value and generalized means of payment because it will always blame anyone except themselves for the loss of confidence in the currency. And by the time that citizens all over the world lose confidence in the US dollar as a reserve currency, the damage will already be done and, more importantly, its consequences will be paid by the average citizen of the United States, not by the incompetent administrators that made debt soar and deficits become permanent.
That is why MMT is such a dangerous idea to experiment with. When it fails, and it always does, it is you who pay the entire cost.
The US dollar has not lost its position as a reserve currency yet, but that does not mean it will not happen. Risks build slowly but happen fast. When it does, it will be too late.
Monetary sovereignty is not a given and even less a blank check to allow the government to increase deficits and debt forever. Monetary sovereignty is lost faster than the blink of an eye when the world realizes that faith in the public accounts of the administration is gone.
Public deficits are money-printing. This is not “reserves for the private sector,” but debt with the nation’s global creditors. When confidence in the ability to repay debt is eroded, it manifests through a higher cost of borrowing and higher inflation. Governments always think that inflation is not their fault and ignore the consequences.
It is no surprise to see Bitcoin surpass $69,000 (record highs) when public debt soars to $34 trillion. With inflation, higher rates, the loss of purchasing power of wages and rising interest expenses, another alarm bell shows us that the fiscal situation of the United States is unsustainable. The only thing that has kept the US dollar afloat as a reserve currency is that the fiscal and monetary imbalances of its competitors are worse. But that is only a battle between fiat currencies, in which all of them are eroding the value of printed money. The destruction of the US dollar is also evident in the high level of gold relative to most fiat currencies and the gradual loss of confidence of citizens who understand that this insane accumulation of debt is going to end with much weaker growth, less productivity, and a massive destruction of the real value of wages and savings.
Bitcoin is yet another alarm bell that the statism crowd ignores.
The statisticians maintain that deficits do not matter because nothing has happened yet. It is like saying that driving at 200 mph is not a problem because you haven’t killed anyone yet. Furthermore, the signs that indicate that fiscal imbalances should be eliminated rapidly are plain to see. Americans are suffering a loss of real wages, a loss of access to essential goods and services, higher taxes, and the prospect of a stagnant economy bloated with debt that may soon be worthless, driving the currency with it.
To say that nothing has happened is an insult to the families that have to go through two and three jobs to make ends meet, that find it increasingly difficult to purchase their essential goods or buy a home and to the businesses riddled with taxes.
No, Bitcoin may not kill the US dollar, but the US government may if it continues down this path.
end
Powell delivers Humphrey Hawkins..
Fed Chair Powell Reiterates Hawkish Stance Ahead Of ‘Humphrey Hawkins’ Testimony
WEDNESDAY, MAR 06, 2024 – 08:42 AM
In prepared remarks, released ahead of his ‘Humphrey-Hawkins’ testimony this morning, Fed Chair Powell reiterated to lawmakers that the US central bank is in no rush to cut interest rates until policymakers are convinced they have won their battle over inflation.
“The committee does not expect that it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%,” Powell confirmed.
The snoozer of prepared remarks simply reiterate the more-hawkish stance that has appeared recently after proclaiming the pivot prompted rational exuberance in every quarter of the markets.
Fed whsiperer Nick Timiraos was even non-plussed by the remarks:
Fed Chair Jay Powell’s testimony to Congress 1) He characterizes last year’s slowdown in core inflation as “notable” and “widespread” 2) The forward guidance around rate cuts is little changed
https://federalreserve.gov/newsevents/testimony/powell20240306a.htm
Powell is set to testify to the House Financial Services Committee at 10 a.m…(watch live here)
Chairman McHenry, Ranking Member Waters, and other members of the Committee, I appreciate the opportunity to present the Federal Reserve’s semiannual Monetary Policy Report.
The Federal Reserve remains squarely focused on our dual mandate to promote maximum employment and stable prices for the American people. The economy has made considerable progress toward these objectives over the past year.
While inflation remains above the Federal Open Market Committee’s (FOMC) objective of 2 percent, it has eased substantially, and the slowing in inflation has occurred without a significant increase in unemployment. As labor market tightness has eased and progress on inflation has continued, the risks to achieving our employment and inflation goals have been moving into better balance.
Even so, the Committee remains highly attentive to inflation risks and is acutely aware that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials, like food, housing, and transportation. The FOMC is strongly committed to returning inflation to its 2 percent objective. Restoring price stability is essential to achieve a sustained period of strong labor market conditions that benefit all.
I will review the current economic situation before turning to monetary policy.
Current Economic Situation and Outlook
Economic activity expanded at a strong pace over the past year. For 2023 as a whole, gross domestic product increased 3.1 percent, bolstered by solid consumer demand and improving supply conditions. Activity in the housing sector was subdued over the past year, largely reflecting high mortgage rates. High interest rates also appear to have been weighing on business fixed investment.
The labor market remains relatively tight, but supply and demand conditions have continued to come into better balance. Since the middle of last year, payroll job gains have averaged 239,000 jobs per month, and the unemployment rate has remained near historical lows, at 3.7 percent. Strong job creation has been accompanied by an increase in the supply of workers, particularly among individuals aged 25 to 54, and a continued strong pace of immigration. Job vacancies have declined, and nominal wage growth has been easing. Although the jobs-to-workers gap has narrowed, labor demand still exceeds the supply of available workers. The strong labor market over the past two years has also helped narrow long-standing disparities in employment and earnings across demographic groups.
Inflation has eased notably over the past year but remains above the FOMC’s longer-run goal of 2 percent. Total personal consumption expenditures (PCE) prices rose 2.4 percent over the 12 months ending in January. Excluding the volatile food and energy categories, core PCE prices rose 2.8 percent, a notable slowing from 2022 that was widespread across both goods and services prices. Longer-term inflation expectations appear to have remained well anchored, as reflected by a broad range of surveys of households, businesses, and forecasters, as well as measures from financial markets.
Monetary Policy
After significantly tightening the stance of monetary policy since early 2022, the FOMC has maintained the target range for the federal funds rate at 5-1/4 to 5-1/2 percent since its meeting last July. We have also continued to shrink our balance sheet at a brisk pace and in a predictable manner. Our restrictive stance of monetary policy is putting downward pressure on economic activity and inflation.
We believe that our policy rate is likely at its peak for this tightening cycle. If the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year. But the economic outlook is uncertain, and ongoing progress toward our 2 percent inflation objective is not assured. Reducing policy restraint too soon or too much could result in a reversal of progress we have seen in inflation and ultimately require even tighter policy to get inflation back to 2 percent. At the same time, reducing policy restraint too late or too little could unduly weaken economic activity and employment. In considering any adjustments to the target range for the policy rate, we will carefully assess the incoming data, the evolving outlook, and the balance of risks. The Committee does not expect that it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent.
We remain committed to bringing inflation back down to our 2 percent goal and to keeping longer-term inflation expectations well anchored. Restoring price stability is essential to set the stage for achieving maximum employment and stable prices over the longer run.
To conclude, we understand that our actions affect communities, families, and businesses across the country. Everything we do is in service to our public mission. We at the Federal Reserve will do everything we can to achieve our maximum employment and price stability goals.
Thank you. I am happy to take your questions.
end
New York Community Bank crashes another 45% to a 30 yr low. They are a huge mortgage provider
A major number of banks in New York are now in trouble
(zerohedge)
NY’s Hochul Faces ‘Political Crisis’ As NYCB Repercussions Loom
WEDNESDAY, MAR 06, 2024 – 12:11 PM
And the hits just keep coming…
Once the darling of the small banking crisis comeback, New York Community Bancorp has crashed 45% to fresh 30 year lows after The Wall Street Journal reports the bank is seeking to raise equity capital in a bid to shore up confidence in the troubled regional lender.
According to people familiar with the matter, NYCB has dispatched bankers to gauge investors’ interest in buying stock in the company.
There’s no guarantee there will be a deal, or that one would succeed in addressing the bank’s challenges, which as of Wednesday morning had led to a roughly 80% decline in its stock price since January.
This is not a good picture for a bank… Would you hold your deposits there?
Last month, DiNello laid out a series of options the bank could explore to bolster its balance sheet, including selling assets from certain non-core businesses. The bank has also considered turning to newfangled financial instruments that would share the risks of those loans with outside investors, people familiar with the matter said.
As WSJ reports, finding takers for those assets, at least at prices that would make a deal worthwhile, has been challenging and U.S. officials have expressed reservations with banks pursuing credit-risk transfers that would shift the burden of potential losses to entities outside of the regulated banking system.
Finally, as a reminder, NYCB is not alone. The red line below shows ‘small banks’ are in trouble absent The Fed’s BTFP facility…
Oh, and this is fine…
The delinquency rate among large banks hits 3%, the highest in 11 years. The delinquency rate among small banks hits 7.80%, the highest on record.
·
722.7K Views
And perhaps that’s why the broad regional bank index is also getting hit today…
Beware the Ides of March as RRP liquidity evaporates.
Think this is isolated?
Think again.
As Chris Whalen details below via The Institutional Risk Analyst, the short answer as to what happens next is that we think that the bank may be sold, one way or another. The profitable Flagstar residential servicing business could be offered for sale in order to make a downpayment for the cleanup of the NYCB legacy multifamily portfolio. But in the wake of credit downgrades, NYCB itself may need to be acquired by another bank.
KBW said in a research note that NYCB could tap into its $78 billion in unpaid balances of mortgage-servicing rights to raise capital through a potential sale. The portfolio has a carrying value of $1.1 billion, analysts said. That is a mere downpayment, however, on a larger mess emanating from the bank’s impaired multifamily assets.
Without an investment grade credit rating, banks cannot hold escrow balances for conventional or government loans. We cannot see how NYCB keeps the billions in conventional and government escrow deposits long-term. The whole Flagstar servicing platform and more than $300 billion in residential loan servicing, mostly for third parties like nonbank mortgage issuers, needs a new home.
Obviously the shareholders of Flagstar are coming to rue the decision to join forces with NYCB, an under-managed community bank with a portfolio of performing but ultimately unsalable multifamily assets. Thanks to the New York State legislature’s 2019 rent control law, which was supported by Governor Kathy Hochul, all banks in New York City that hold rent stabilized assets on the books are now capital impaired. Several of these banks in New York City may fail as a result of Albany’s actions.
The State of New York should take ownership of its fine work and repeal the 2019 rent control legislation.
end
Steve Mnuchin and friends comes to the rescue to NYCB to the tune of one Billion dollars.
(zerohedge)
NYCB Announces $1BN Equity Infusion, Fmr Tsy Sec Mnuchin Joins Board
WEDNESDAY, MAR 06, 2024 – 02:10 PM
Update (1410ET): Having seen shares collapse over 40% before being halted for ‘news pending’, we have the news…
Bloomberg reports that New York Community Bancorp plans to announce an equity investment of more than $1 billion led by Steven Mnuchin’s Liberty Strategic Capital, Hudson Bay Capital and Reverence Capital Partners, according to a spokesperson for the bank.
Liberty will invest $450 million, Hudson Bay $250 million and Reverence $200 million as part of the transaction, the spokesperson said.
In connection with the deal, NYCB will reduce the board to nine members, adding new directors, including Mnuchin and Joseph Otting, former comptroller of the currency.
Secretary Steven Mnuchin stated:
“In evaluating this investment, we were mindful of the Bank’s credit risk profile. With the over $1 billion of capital invested in the Bank, we believe we now have sufficient capital should reserves need to be increased in the future to be consistent with or above the coverage ratio of NYCB’s large bank peers.”
Non-Executive Chairman Sandro DiNello stated,
“We welcome the approach that Liberty and its partners took in its evaluation of the Bank and look forward to incorporating their insights going forward. The strategic investment involving former Secretary Steven Mnuchin, former Comptroller Joseph Otting and Milton Berlinski, along with the other institutional investors is a positive endorsement of the turnaround that is underway and allows us to execute on our strategy from a position of strength. We enter this next chapter with a strong balance sheet and liquidity position supported by a diversified and retail focused deposit base. Our new leadership team, with the support of the reconstituted Board, will continue to take the actions that are necessary to improve earnings, profitability and drive enhanced value for shareholders.”
Secretary Mnuchin stated,
“We decided to make this investment because we believe Sandro, alongside new management, has taken the appropriate actions to stabilize the Company and to position NYCB to become a best-in-class $100+ billion national bank with a diversified and de-risked business model that supports long term profitability. We are delighted that former Comptroller Otting will be NYCB’s new CEO and believe that the actions taken by NYCB establish a strong foundation for future growth through our new relationship with other new Board members and investors. We are confident that NYCB is poised to generate sustainable shareholder value.”
The question, of course, is just how diluted the current equity holders just got…
In connection with the equity capital raise transaction, NYCB will sell and issue, in the aggregate, to the Investors shares of common stock of the Company at a price per share of $2.00 and a series of convertible preferred stock with a conversion price of $2.00, for an aggregate investment amount of $1.05 billion.
In addition, investors will receive 60% warrant coverage to purchase non-voting, common-equivalent stock with an exercise price of $2.50 per share, a 25% premium to the price paid on common stock.
NYCB was trading at $1.86 before the halt (but that sounds like a lot of dilution above
end
beige book…
Beige Book Warns Consumer Spending Slowing Due To “Heightened Price Sensitivity”, Sees Mounting CRE Fears
WEDNESDAY, MAR 06, 2024 – 02:33 PM
One month after the lukewarm January Beige Book found “little or no change” In US economic activity, which in turn followed the fare more downbeat November Beige Book found which economic activity was “slowing“, moments ago the Fed released the latest, March, Beige Book in which we find more green shoots glimmers as economic activity “increased slightly”, on balance, since early January, with eight Districts reporting slight to modest growth in activity, three others reporting no change, and one District noting a slight softening. Oddly enough, the Fed found a modest acceleration in economic activity even though “consumer spending, particularly on retail goods, inched down in recent weeks.” To justify this assessment, the Fed mentioned several reports which cited heightened price sensitivity by consumers and noted that households continued to trade down and to shift spending away from discretionary goods.
Taking a closer look at various economic segments, we find the following notable recent developments:
- Activity in the leisure and hospitality sector varied by District and segment; while air travel was robust overall, demand for restaurants, hotels, and other establishments softened due to elevated prices, as well as to unusual weather conditions in certain regions.
- Manufacturing activity was largely unchanged, and supply bottlenecks normalized further. Nevertheless, delivery delays for electrical components continued.
- Ongoing shipping disruptions in the Red Sea and Panama Canal did not generally have a notable impact on businesses during the reporting period, although some contacts reported rising pressures on international shipping costs.
- Several reports highlighted a pickup in demand for residential real estate in recent weeks, largely owing to some moderation in mortgage rates, but noted that limited inventories hindered actual home sales.
- Commercial real estate activity was weak, particularly for office space, although there were reports of robust demand for new data centers, industrial and manufacturing spaces, and large infrastructure projects.
- Loan demand was stable to down, and credit quality was generally healthy despite a few reports of rising delinquencies.
Unlike the recent ISM reports, both mfg and services, the Fed found that employment “rose at a slight to modest pace in most Districts” while labor market tightness eased further, with nearly all Districts highlighting some improvement in labor availability and employee retention. Some more labor market details:
- Businesses generally found it easier to fill open positions and to find qualified applicants, although difficulties persisted attracting workers for highly skilled positions, including health-care professionals, engineers, and skilled trades specialists such as welders and mechanics.
- Wages grew further across Districts, although several reports indicated a slower pace of increase. Employee expectations of pay adjustments were reportedly more in line with historical averages
And in bad news for those expecting a soft landing, the Fed cautioned that price pressures persisted during the reporting period, although several Districts reported some degree of moderation in inflation. Furthermore, while contacts highlighted increases in freight costs and several insurance categories, including employer-sponsored health insurance, businesses found it harder to pass through higher costs to their customers, who became increasingly sensitive to price changes. The good news is that the cost of many manufacturing and construction inputs, such as steel, cement, paper, and fuel, reportedly fell in recent weeks.
Looking ahead, the Fed said that “the outlook for future economic growth remained generally positive, with contacts noting expectations for stronger demand and less restrictive financial conditions over the next 6 to 12 months.” Boy are they in for a surprise.
Turning to the specific regional Feds, we found these summaries notable:
- Boston: Economic activity increased at a slow pace, and employment gains were modest. Output prices increased slightly, and wage growth held steady at a moderate pace. Residential realtors expressed growing optimism as both property listings and pending home sales increased. Uncertainty persisted concerning the fate of maturing office property loans, but the outlook for the sector did not worsen.
- New York: Regional economic activity flattened after a period of sustained weakness. Labor market conditions remained solid as employment grew slightly and wage growth picked up to a moderate pace. Labor demand and labor supply continued to come into better balance. Consumer spending declined modestly. The pace of selling price increases remained modest.
- Philadelphia: Business activity resumed a slight decline during the current Beige Book period—as it had for most of 2023. Employment grew slightly, and labor availability improved. Wage and price inflation subsided further, but housing affordability continues to squeeze consumers, especially those in lower-income households. Generally, sentiment improved, but firms remained cautious with subdued expectations for future growth.
- Cleveland: District business activity increased slightly. Some firms noted increased labor availability, reduced turnover, and easing wage pressures. Cost and price pressures changed little. Some manufacturers raised prices to cover higher costs, while some restauranteurs planned to absorb them. Business services firms continued to raise rates based on market conditions.
- Richmond: The regional economy saw little growth, overall. Consumer spending softened slightly as poor weather conditions over the last several weeks led to reduced sales. Imports and shipments of consumer goods picked up as retailers replenished inventories. Domestic manufacturing softened, however. Real estate market activity improved slightly. Nonfinancial service demand was unchanged. Employment rose and price growth was unchanged, keeping inflation moderately elevated.
- Atlanta: Economic activity was little changed. Labor markets and wage pressures eased. Nonlabor costs moderated, on balance. Consumers remained cost conscious, and higher prices squeezed household budgets. Travel and tourism remained strong. Home sales declined. Commercial real estate conditions slowed. Transportation activity was mixed. Manufacturing slowed somewhat. Overall loan demand declined.
- Chicago: Economic activity increased modestly. Employment increased modestly; nonbusiness contacts saw a modest increase in activity; business spending increased slightly; manufacturing activity was flat; and construction and real estate and consumer spending declined slightly. Prices and wages rose moderately, while financial conditions tightened modestly. Prospects for 2024 farm income deteriorated some.
- St. Louis: Economic activity has increased slightly since our previous report. Contacts reported that consumer demand slowed beyond seasonal norms. While labor markets remain tight overall, an increasing number of firms reported being fully staffed or overstaffed relative to consumer demand. Price growth has slowed in recent months. Contacts reported a mixed outlook for the coming year, although the outlook has improved since mid-December.
- Minneapolis: District economic activity was up slightly. Employment grew some, but labor demand softened. Wage pressures continued to moderate, and prices rose modestly. Consumer spending declined slightly, thanks to slow winter tourism. Commercial construction remained slow, but some markets saw single-family activity improve. Manufacturing, mining, and energy activity increased.
- Kansas City: Economic activity in the Tenth District was stable. Job gains were modest, and wage growth, while elevated, was tied closer to worker performance. Price sensitivity rose among consumers, even as prices rose moderately. Commercial real estate contacts indicated skepticism around recent appraisals of property valuation, not wanting to be in a position of trying to “catch a falling knife.”
- Dallas: Economic activity expanded modestly, with most sectors holding steady or experiencing slight to modest growth. Wage growth was moderate, and input cost and selling price growth was generally at or below average. Texas firms were more bullish on demand expectations than late last year, with more than half of the firms’ expecting increases over the next six months. Outlooks overall were less pessimistic.
- San Francisco: Economic activity grew slightly, employment levels rose slightly, and price and wage growth eased. Retail sales were stable, and demand for services grew modestly. Demand for manufactured products changed little, and conditions in agriculture were stable. Real estate activity rose slightly overall. Financial sector conditions were little changed.
One particular highlight: The Atlanta Fed notes said that “commercial real estate conditions slowed”, while the Kansas City Fed said that “Commercial real estate contacts indicated skepticism around recent appraisals of property valuation, not wanting to be in a position of trying to “catch a falling knife.”
Finally, taking a visual approach to the data, we find that after mentions of inflation dropped to 10, or the lowest since Jan 2022 in November, before rebounding in January to 15, in March the number of mentions dipped again, this time to 12, suggesting that prices may indeed be resuming their grind lower.
And speaking of commercial real estate, while Powell is doing his best to pretend that there is nothing to worry about, today’s bailout of NYCB notwithstanding, the Fed itself is clearly worried as shown in the chart below which summarizes all mentions of “commercial real estate” and “CRE” in the latest beige book.
More in the full Beige Book (link).
Watch Live: Haley’s Not-So-Super Tuesday As Trump Sweeps Delegates State After State
TUESDAY, MAR 05, 2024 – 09:10 PM
Update (2100ET): And the results are starting to come in.
Watch Live:
While Bloomberg and The NY Times refuse to admit (or make the calls) that Trump is dominating, The Associated Press and NBC stand by the data and it’s a sweep so far for Trump.
According to NBC, Trump is either the winner or leading in every state so far…
Vermont remains ‘too close to call’ for now. Minnesota and Colorado are too early to call and California, Alaska, and Utah polls have not closed yet.
* * *
Super Tuesday, the biggest primary day of the political year, is here.
Trailing her Republican rival by hundreds of delegates, former South Carolina Gov. Nikki Haley has ignored calls for her to drop out and kept fighting on.
With Haley winning one ‘district’ (can you spot the odd one out)…
But, as The Epoch Times breaks down in detail below, today, presidential primary voters across 15 states and one U.S. territory – including Alabama, Alaska, Arkansas, California, Colorado, Maine, Massachusetts, Minnesota, North Carolina, Oklahoma, Tennessee, Texas, Utah, Vermont, and Virginia, and the territory of American Samoa – will sound off on their preferred presidential candidates, and Haley’s projected to lose most, if not all of them, to former President Donald Trump.
Ms. Haley, for her part, has only pledged to stay on until Super Tuesday, prompting questions about when she will call it quits.
“This is not about my political future, or I would have been out a long time ago. The reason I’m doing this is for my kids, your kids, and the younger generation.”
Currently, former President Donald Trump is viewed as the presumptive nominee by most after a series of double-digit wins in contests held so far, with challenger Nikki Haley failing to gain ground.
All eyes will be on whether Haley drops out after tonight, given that she has only vowed to stay on up until March 5.
With nearly 900 delegates of the 1,215 needed to become the nominee up for grabs, polls show that Trump is well-positioned to come close to locking down his party’s nomination tonight.
But these primaries will have other national implications as well.
With the Republican House majority hanging by a thread, there are dozens of key congressional races this year that could upset the balance of power in Washington, several of which will hold their primaries on Super Tuesday.
California, especially, will be crucial to who holds the House next year. Democrats are targeting seven Republican-held seats in the state for potential gains. Republicans, on the other hand, are homing in on the seats of Democratic Reps. Josh Harder and Mike Levin, as well as the open seat of Democratic Rep. Katie Porter, who is running for Senate.
Porter will also be facing off against Rep. Adam Schiff (D-Calif.) and former Dodgers all-stay player Steve Garvey, a Republican, who are also vying to replace the late Sen. Dianne Feinstein (D-Calif.).
Another key state is Texas, where Republican Rep. Tony Gonzales will need to receive a majority of the votes to fend off multiple primary challengers and avoid a runoff. Meanwhile, Democratic Rep. Sheila Jackson Lee, fresh off her December loss in the Houston mayoral race, faces a tough challenge from former Houston City Councilwoman Amanda Edwards.
North Carolina’s elections later this year could also shift the balance of power in Washington, as five congressmen in the state have chosen not to seek reelection this year—leading both parties to hope for flips. North Carolinians will also vote for the Republican and Democratic nominees for governor.
And while he’s seen as a shoo-in for the Democratic nomination, President Joe Biden will also face a test on Super Tuesday as activists in Minnesota have called on Democrats to vote “uncommitted” in protest of Biden’s attitude toward the war in Gaza.
Iowa Democrats will also learn the results of their unprecedented vote-by-mail caucus.
Results are expected to arrive starting at 7 p.m. ET tonight. Here’s a breakdown of the schedule:
- 6 p.m. ET: Democratic results expected in Iowa.
- 7 p.m. ET: Polls close in Vermont and Virginia. Republican caucuses convene in Alaska.
- 7:30 p.m. ET: Polls close in North Carolina.
- 8 p.m. ET: Polls close in Alabama, Maine, Massachusetts, Oklahoma, and Tennessee. Most polls close in Texas.
- 8:30 p.m. ET: Polls close in Arkansas.
- 9 p.m. ET: Polls close in Colorado and Minnesota. Last polls close in Texas. Republican caucuses convene in Utah.
- 11 p.m. ET Polls close in California.
- 12 a.m. ET Polls close in Alaska.
TRUMP WINS AT SCOTUS
A unanimous judgment by the Supreme Court overturned a Colorado court’s ruling that Trump was disqualified from appearing on the state’s ballot. Yesterday’s decision is likely a relief for Trump’s campaign, which is already wrestling with multiple court cases ahead of the 2024 presidential election.
Justice Amy Coney Barrett and the three liberal justices issued concurring opinions in which they agreed that states lacked authority to disqualify federal candidates but thought their colleagues went too far with other aspects of the opinion.
Justices Sonia Sotomayor, Elena Kagan, and Ketanji Brown Jackson indicated that federal courts should be able to rule on the issue and accused their colleagues of attempting “to insulate all alleged insurrectionists from future challenges to their holding federal office.”
State vs. federal power was the main theme of the opinion, a concern that tracked with the overall direction of oral argument in February. The per curiam, or unsigned opinion, argued that Section 5 of the 14th Amendment gave enforcement power to Congress.
A messy patchwork of state ballot disqualifications seems unlikely or impossible after the March 4 decision.
Reserving the issue for Congress bypassed the question of whether Trump was the type of “officer” who could be disqualified under Section 3 of the 14th Amendment. It laid out somewhat broad guidelines for future legislation but it’s unclear how Congress will act, if at all before the 2025 inauguration.
Democrats could create controversy by attempting to pass legislation disqualifying Trump or interfering with the certification of election results. Another “civil war” would result from the first avenue, Public Interest Legal Foundation President J. Christian Adams told The Epoch Times. “Turn the national temperature down” was Justice Barrett’s advice in her concurring opinion. Apparently displeased with aspects of the per curiam opinion, she said “this is not the time to amplify disagreement with stridency.”
WHAT’S HAPPENING
- Trump will deliver a Super Tuesday speech from Mar-a-Lago, Florida.
- The first results on Super Tuesday will arrive from Iowa at 6 p.m. ET. The polls will close in California at 11 p.m. ET and in Alaska at midnight ET.
Finally, in case you are still wondering after all this, why ‘they’ are still running Nikki Haley, here’s your answer.
END
Iranian Assassin On The Loose In America, Targeting Trump-era Officials
TUESDAY, MAR 05, 2024 – 08:00 PM
Under President Biden’s disastrous open southern border policies, there is a significant concern among federal officials that terrorists are entering the United States freely and could be plotting assassination attacks against former and current government officials.
First reported by Semafor, the Federal Bureau of Investigation’s Miami Field Office released new information on an Iranian intelligence officer by the name of Majid Dastjani Farahani, who is wanted for “questioning in connection with the recruitment of individuals for various operations in the United States, to include lethal targeting of current and former United States Government officials.”
The FBI said the Iranian spy is plotting attacks against current and former American officials “as revenge for the killing of IRGC-QF Commander Qasem Soleimani.” Semafor noted that some of those officials include one-time Secretary of State Mike Pompeo.
Semafor added: “It’s unclear why the FBI issued its warning in Florida. But the US government warned in a Most Wanted notice issued Friday that Farahani speaks Spanish and frequently moves between Iran and Venezuela.”
The news of terrorists roaming the US comes after the US Border Patrol arrested 169 members of the FBI’s terrorist watchlist attempting to cross the southern border illegally in 2023 alone – that’s more than 10x the number of potential the number of terrorists detained at the border in the four years before President Biden took office.
The Biden administration has done very little to prevent terrorists, cartel members, and sex offenders from entering the US. The nation is in chaos because the progressive radicals in the White House do not respect the nation’s rules, and in democracy, the rules are determined by the people. The people are demanding border security while the administration does the opposite.
Musk
@elonmusk
·
Mar 5
This administration is both importing voters and creating a national security threat from unvetted illegal immigrants. It is highly probable that the groundwork is being laid for something far worse than 9/11. Just a matter of time.
·
32.8K Views
Meanwhile, here’s a note of what’s potentially on the horizon: “More Red Flags Than Before 9-11”: Ohio Sheriff Warns American People Of Worsening Border Invasion.477
MORE
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM…
END
FREIGHT ISSUES/USA
END
VICTOR DAVIS HANSON
END
SWAMP STORIES
Nikki Haley Will Exit Republican Presidential Race After Super Tuesday Flop
WEDNESDAY, MAR 06, 2024 – 06:55 AM
Republican presidential candidate Nikki Haley plans to end her campaign as early as Wednesday morning following her dismal results on Super Tuesday, The Wall Street Journal reported, citing people familiar with her plans.
During last night’s not-so-super-Tuesday, she only secured only a victory in one state – Vermont – out of the 15 states that held GOP contests; to go along with her ‘victory’ in the swamp (DC).
According to the NBC News’ delegate tracker, former President Trump led with 1057 delegates, significantly outpacing Haley’s total of 92.
WSJ sources expanded more on what Haley is likely to discuss in Charleston this morning around 1000 ET:
Haley won’t announce an endorsement Wednesday, the people said. She will encourage Donald Trump, who is close to having the delegates needed to win the GOP nomination, to earn the support of Republican and independent voters who backed her.
She is expected to emphasize that she will continue to advocate for the conservative domestic and foreign policies she supports and caution against some of the dangers, such as isolationism and a lack of fiscal discipline, that she sees coming from Washington.
Haley was the first major candidate to challenge Trump for the nomination and the last to stand down, showing determination even as she came under significant attack by the former president and his supporters.
MSNBC will be disappointed…
Reacting to the results of Super Tuesday late last night, Haley said a large number of Republican voters continue to have “deep concerns” about the former president.
“We’re honored to have received the support of millions of Americans across the country today, including in Vermont where Nikki became the first Republican woman to win two presidential primary contests,” Haley’s campaign said in a statement.
“Unity is not achieved by simply claiming ‘we’re united’. Today, in state after state, there remains a large block of Republican primary voters who are expressing deep concerns about Donald Trump,” she added.
With Haley’s departure from the race, Trump has all but guaranteed the Republican party’s nomination to a November showdown with President Joe Biden.
KING REPORT//
| The King Report March 6, 2024 Issue 7194 | Independent View of the News |
| Gold (2141.79) and Bitcoin (69191) hit record highs. Manic US deficit spending, too much Fed juice in the system, and China’s aggressive interventions in its financial and economic systems are the factors. @Sino_Market: China’s blue-chip CSI 300 Index closed up 0.5% in the morning session after a sign of National Team buying in CSI 300 ETFs. This morning, the transaction volume of several CSI 300 ETFs suddenly increased. Huatai-PineBridge and E-Fund CSI 300 ETFs have reached 5 billion and 4.8… https://t.co/eF69V3ECz1 Apple’s iPhone sales in China plunge 24% as Huawei’s popularity surgeApple’s iPhone sales in China fell 24% year-on-year in the first six weeks of 2024, according to research firm Counterpoint… The U.S. tech giant’s chief competitor in China in premium smartphones, Huawei, saw unit sales rise by 64% in the period, according to the report…https://ca.style.yahoo.com/apples-china-iphone-sales-plunge-072241878.html @RealEJAntoni: S&P Global: US services PMI had slightly less growth in Feb as prices rise faster; drop in export orders dampened demand; job growth weakest since Nov w/ hiring mostly part-time and temp workers; still, composite PMI posted best read in 8 months despite stagflation warning signs: https://t.co/vVF3GGWmNB @zerohedge: In the last 21 months, US factory orders have been downward-revised 16 times. This fake economy stuff was cute at first, but it’s getting ridiculous nowhttps://twitter.com/zerohedge/status/1765068508843708446 After hitting an all-time high of 69,191.40, Bitcoin reversed sharply and tumbled to 59,317.16. Victoria Nuland, third-highest ranking US diplomat and critic of Russia’s war in Ukraine, retiringNuland, a career foreign service officer who served as Assistant Secretary of State for Europe during the Obama administration but retired after Donald Trump was elected president, returned to government as Under Secretary of State for Political Affairs in the Biden administration…https://www.kron4.com/news/politics/ap-politics/ap-victoria-nuland-third-highest-ranking-us-diplomat-and-critic-of-russias-war-in-ukraine-retiring/ @RobertKennedyJr: Notorious Neocon Architect of Ukraine War resigns Ukraine ‘Coup’ Architect Victoria Nuland Privately Met with Biden Before Sending Ukraine Billions In ‘Aid.’ – She is believed to have led U.S. efforts to orchestrate a 2014 revolution in Ukraine that ultimately led to President Yanukovych’s ousting… White House Visitor Logs suggest that Nuland has retained a similar influence over President Joe Biden’s Ukraine policy…https://warroom.org/ukraine-coup-architect-victoria-nuland-privately-met-with-biden-before-sending-ukraine-billions-in-aid/ @JamesGRickards: Evidence that Russia has won in Ukraine is everywhere, but this story puts the icing on the cake. Victoria Nuland, the Warmonger-in-Chief with blood on her hands from Benghazi to Baghdad to Kiev is resigning. She knows Ukraine lost so she’s checking out. https://t.co/QNi5vCrXvR @ggreenwald: One of the single most psychotic and bloodthirsty warmongers to serve in the US Government in decades: Beyond serving as Dick Cheney’s top advisor for the Iraq War and overseeing NATO expansion for Bush – including Ukraine – she then ran Ukraine for both Obama and Biden.. She also served under Bill Clinton. Her husband is Bill Kristol’s main warmongering partner and part of the largest neocon family, Robert Kagan… EU aims to shift European arms industry to ‘war economy mode’The European Commission will propose on Tuesday ways for the European Union to boost its arms industry so it can shift to “war economy mode” in response to Russia’s invasion of Ukraine…https://www.reuters.com/world/europe/eu-aims-shift-european-arms-industry-war-economy-mode-2024-03-04/ @CBSNews: The Biden administration announced a rule Tuesday to cap all credit card late fees at $8, or about one-quarter of the average late fee of $32.https://www.cbsnews.com/news/credit-card-late-fees-cfpb-biden-strike-force/?ftag=CNM-00-10aab7e&linkId=347928932 Biden administration ADMITS flying 320,000 migrants secretly into the U.S. to reduce the number of crossings at the border has national security ‘vulnerabilities’ – A lawsuit reveals Biden’s CBP is refusing to disclose airports where it is flying undocumented aliens from other countries https://www.dailymail.co.uk/news/article-13155765/biden-illegal-migrant-flying-program-national-security-vulnerability.html @elonmusk: Treason indeed! Ushering in vast numbers of illegals is why Secretary Mayorkas was impeached by the House. They are importing voters. This is why groups on the far-left fight so hard to stop voter ID requirements, under the absurd guise of protecting the right to vote. This administration is both importing voters and creating a national security threat from unvetted illegal immigrants. It is highly probable that the groundwork is being laid for something far worse than 9/11. Just a matter of time. Arizona Senator Kyrsten Sinema announced that she would not seek re-election in 2024. Sinema was a Democrat until she turned Independent in 2022. Nevertheless, she still caucused with Democrats. Yes, Virginia, an increasing number of Democrat insiders fear that The Big Guy is circling the drain. Biden WRONGLY accuses the press of ignoring polls where he is beating Trump as he rejects claims his approval ratings are historically bad amid questions about his run for re-election https://trib.al/c2RRBau @RNCResearch: Biden, struggling to read from his giant teleprompter, claims his “economic fission” is “working.” (Palpable Team Obama-Biden panic – they instruct Joe to defend the indefensible.)https://twitter.com/RNCResearch/status/1765105091755769960 Biden planning to hit food ‘shrinkflation,’ corporate greed in SOTU (Panic, deflect blame)Food inflation is still a major drag on voter approval of the Biden economy ahead of November. Republicans are highly critical of those White House claims, arguing it’s Biden’s policies that are fueling inflation… Biden, however, likes the “greedflation” and “shrinkflation” arguments… White House officials, backed by key progressive antitrust advocates, have argued major food companies, including big grocery chains, raised their prices during the pandemic… The Federal Trade Commission is widely expected to challenge a merger between grocery store chains Kroger and Albertsons as soon as next week, a decision Biden is likely to tout as a populist victory ahead of his State of the Union address. https://www.politico.com/news/2024/02/23/biden-food-shrinkflation-sotu-00142773 @cspan: President Biden announces a new strike force on unfair, illegal, and anti-competitive pricing lead by the DOJ and FTC: “The American people are tired of being played for suckers.”https://twitter.com/cspan/status/1765120904428658996 Delta hikes bag fees ahead of travel season, joining United and American https://trib.al/9nOwplN ESHs traded moderately lower but flat from the Nikkei opening until they eased lower after the 1 ET Nikkei close. ESHs flatlined again; but they broke down near 8:42 ET. The decline persisted until ESHs hit a bottom of 5083.50 at 11:44 ET. With liquidation for the 11:30 ET European close completed, ESHs rallied to 5099.00 at 12:29 ET. ESHs then eased lower until another selling leg appeared after 14:00 ET. ESHs hit a low of 5063.00 at 15:21 ET. The late manipulation pushed ESHs to 5088.25 at 15:58 ET. Did Biden’s anti-business screed on Tuesday and reports of anti-business vitriol in his SOTU Speech on Thursday contribute to the defensive asset allocation that appeared yesterday? Positive aspects of previous sessionOil stocks rallied modestly even though oil declined modestly, and gasoline declined sharplySomeone blatantly manipulated ESHs 25.25 higher in 27 minutes at the end of NYSE trading. Negative aspects of previous sessionStocks and commodities, except for gold, sank on defensive asset allocation (USHs +1 10/32) Ambiguous aspects of previous sessionHow far will stocks retreat? 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]: 5083.34Previous session S&P 500 Index High/Low: 5114.54; 5056.82 @elonmusk: The sheer insanity of that actual response from Google’s AI is staggering! They will fix it to be less obvious in the future, but the bias will still be in there. AI mirrors the mistakes of its creators.When people wonder how things might go wrong if AI controlled the world, this example clearly illustrates the point. The best approach to AI safety – in my opinion, the only approach that would work – is to be maximally truth-seeking. Honesty is the best policy. China’s Li vows more support for property market stuck in the doldrums https://t.co/ho7uMG6WHv ‘Blood Money’: Meet the Secretive China-Linked U.S. Left-Wing Groups Driving Chaos in Our Street – What appeared to be organic protests in the United States during the summer of 2020 in the wake of George Floyd’s death were actually in many cases organized by members of little-known radical organizations linked to China, according to a new book by Breitbart News Senior Contributor Peter Schweizer…One of those groups is the Freedom Road Socialist Organization (FRSO), a secretive pro-Beijing organization… In 2022, FRSO would openly pledge its support for the Chinese Communist Party during its Twentieth National Congress in a message that read:…https://www.breitbart.com/politics/2024/03/05/blood-money-meet-the-secretive-chinese-funded-u-s-left-wing-groups-driving-chaos-in-our-streets/ Today – Gold, Bitcoin, and other inflation vehicles are typically late cycle plays in situations where the Fed and/or administration tries to extend a dying economic cycle. Stagflation is a result. It was clear over the prior few sessions that stocks were exhausted. The Bitcoin reversal yesterday could indicate that the cyber currency buying frenzy is exhausted for now. With commodities falling sharply on Tuesday, traders ran into US Treasuries. Will defensive asset allocation appear again today? Powell’s testimony at the House Services Committee will be scrutinized. Will any GOP Rep ask Powell if proposed rate cuts in late summer or early Q3 are attempts to aid & abet The Big Guy? Will any Rep ask Powell how in the hell can the Fed be advocating rate cuts with stocks bubbling up, gold at an all-time high, and manic buying of cyber currencies? Expected Economic Data: Feb ADP Employment Change 150k; Jan JOLTS Job Openings 8.85m; Jan Wholesale Inventories -0.1% m/m, Wholesale Trade Sales 0.2%; Fed Beige Book 14:00 ET Fed Speakers: Powell at House Financial Services Com. 10:00 ET, SF Fed Pres Daly 12:00 ET ESUs are +1.25; NQHs are +30.25; USHs are -11/32 at 20:25 ET. S&P Index 50-day MA: 4901; 100-day MA: 4677; 150-day MA: 4590; 200-day MA: 4537DJIA 50-day MA: 38,190; 100-day MA: 36,515; 150-day MA: 35,824, 200-day MA: 35,395(Green is positive slope; Red is negative slope) S&P 500 Index (5078.65) – Trender BBG trading model and MACD for key time framesMonthly: Trender and MACD are positive – a close below 4455.17 triggers a sell signalWeekly: Trender and MACD are positive – a close below 4860.59 triggers a sell signalDaily: Trender ispositive; MACD is negative – a close below 5011.41 triggers a sell signalHourly: Trender and MACD arenegative – a close above 5111.49 triggers a buy signal Super Tuesday 2024: First exit polls reveal immigration is STILL a top issue for Americans https://trib.al/rWvkALz Hunter Biden helped hire aides who mishandled Joe’s classified documentsWithin hours of the release of a special prosecutor’s report finding he “willfully retained and disclosed classified materials” as a private citizen, President Biden rushed to the White House podium to blame his former “staff.”… Documents confirm that the staffers in question are Kathy S. Chung, who worked with Hunter Biden at the Commerce Department, and Anne Marie Muldoon, nee Person, who worked for him at Rosemont Seneca Partners, a key pass-through for foreign wire payments to Hunter Biden…https://nypost.com/2024/03/04/us-news/hunter-biden-helped-hire-aides-who-mishandled-joes-classified-documents/ @elonmusk: Being attacked by 60 Mins is like being gummed by a very old man who forgot to put in his dentures – gross, but ineffective VA Denies Removal of Iconic WWII Kissing Photo After Rogue Woke Memo CirculatesThe email’s subject line is “Operational memorandum: Removal and Replacement of ‘V-J Day in Times Square’ Photographs” and the email is dated Feb. 29, 2024… Nelson suggested that the kiss was ‘non-consensual,’ and violates the VA’s policies toward sexual harassment and assault, she said in the memo…https://www.zerohedge.com/political/va-denies-removal-iconic-wwii-kissing-photo-after-rogue-woke-memo-circulates | |
GREG HUNTER
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