GOLD PRICE CLOSED UP $3.20 TO $2182.15
SILVER PRICE UP 11 cents TO $24.48
Gold ACCESS CLOSED 2182.00
Silver ACCESS CLOSED: 24,47
This is the 8th straight day for gold to rise in price. This never happens as our bankers for years have controlled the price. Rarely do you see it rise for two consecutive days. .Also Jerome Powell was speaking for two days and they always whack gold on this occasion
Bitcoin morning price:$71,284 UP 2293 DOLLARS.
Bitcoin: afternoon price: $71,967 UP 2976 dollars
Platinum price closing UP $28.20 AT $940.10
Palladium price; UP 10.25 AT $1032,95
END
SHANGHAI GOLD PREMIUM 26 DOLLARS/COMEX GOLD
SHANGHAI 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.
AUTO-REFRESH IS OFF
Last Updated 11 Mar 2024 09:00:49 AM 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: $2,941.47 UP $4.10 CDN dollars per oz( * NEW ALL TIME HIGH 2,941.47CDN DOLLARS PER OZ//MARCH 11 2024)
*BRITISH GOLD: 1703.22 UP 8.89 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1703.22 BRITISH POUNDS/OZ) MARCH 11/2024
*EURO GOLD: 1997.12 UP 5.55 euros per oz //* (ALL TIME CLOSING HIGH: 1997.12 EUROS PER OZ//MARCH 8.2024)
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END
EXCHANGE: COMEX
ACCESS MARKET:
EXCHANGE: COMEX
CONTRACT: MARCH 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,178.600000000 USD
INTENT DATE: 03/08/2024 DELIVERY DATE: 03/12/2024
FIRM ORG FIRM NAME ISSUED STOPPED
092 C DEUTSCHE BANK 20
132 C SG AMERICAS 10
323 C HSBC 73
363 H WELLS FARGO SEC 176
435 H SCOTIA CAPITAL 99
624 H BOFA SECURITIES 1533
657 C MORGAN STANLEY 9
661 C JP MORGAN 15 1106
690 C ABN AMRO 1
737 C ADVANTAGE 7 83
905 C ADM 2
TOTAL: 1,567 1,567
JPMorgan stopped 1109/1562 contracts.
FOR MARCH/2024
GOLD: NUMBER OF NOTICES FILED FOR MAR/2024. CONTRACT: 1567 NOTICES FOR 156700 OZ or 4/8740 TONNES
total notices so far: 3926 contracts for 392,600 Oz (12.271 tonnes)
FOR MARCH:
SILVER NOTICES: 61 NOTICE(S) FILED FOR 305,000 OZ/
total number of notices filed so far this month : 4985 for 24,925,000 oz
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END
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
GLD
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD UP $3.20:
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.44 TONNES AFTER 8 STRAIGHT DAYS OF GOLD INCREASES..?????
INVENTORY RESTS AT 815.13 TONNES
SLV//
WITH NO SILVER AROUND AND SILVER UP 11 CENTS AT THE SLV//
HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A MASSIVE WITHDRAWAL OF 2.147 MILLION OZ FROM THE SLV….
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 418.323 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A HIGE SIZED 1747 CONTRACTS TO 142,481 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS STRONG SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR TINY FALL IN PRICE OF $0.05 IN SILVER PRICING AT THE COMEX ON FRIDAY. WE HAD LITTLE LONG LIQUIDATION AT THE COMEX SESSION WITH AGAIN MAJOR SHORT COVERING DESPITE THE SMALL PRICE FALL. WE HAD A HUGE 695 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 FRIDAY NIGHT: 695 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.
WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.05),AND WERE SOMEWHAT SUCCESSFUL IN KNOCKING A FEW SILVER LONGS AS WE HAD A GIGANTIC SIZED LOSS OF 1025 CONTRACTS ON OUR TWO EXCHANGES. IT OCCURRED WITH A LOWER PRICE OF 5 CENTS. MOST OF THE LOSS WAS DUE TO THE T.A.S. LIQUIDATION
WE MUST HAVE HAD:
A MEGA STRONG SIZED 722 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 0.220 MILLION OZ QUEUE JUMP //NEW TOTALS INCREASES TO : 26.080 MILLION OZ
//NEW STANDING FOR SILVER IS THUS 26.080 MILLION OZ
WE HAD:
/ STRONG SIZED COMEX OI LOSS/ STRONG SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 695 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED A HUGE 1215 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 7 days, total 12,31O contracts: OR 61.550 MILLION OZ (1758 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 61 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: 61.55 MILLION OZ//WILL BE MUCH LARGER THIS MONTH//MAYBE CLOSE TO A RECORD ISSUANCE
RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1747 CONTRACTS DESPITE OUR TINY LOSS IN PRICE OF SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 722 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 0.220 MILLION OZ QUEUE JUMP
//NEW TOTAL STANDING RISES TO 26.080 MILLION OZ
WE HAVE A HUGE LOSS OF 1025 OI CONTRACTS ON THE TWO EXCHANGES WITH THE TINY LOSS IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 695 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS ( EVEN WITH THE PRICE OF SILVER FALLING) . THE NEW TAS ISSUANCE FRIDAY NIGHT (695) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .
WE HAD 61 NOTICE(S) FILED TODAY FOR 0.305 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 MEGA GIGANTIC SIZED 27,192 CONTRACTS TO 534,119 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 1234 CONTRACTS
WE HAD A GIGANTIC SIZED INCREASE IN COMEX OI ( 27,192 CONTRACTS) WITH OUR STRONG $21.05 GAIN IN PRICE//FRIDAY. 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 21,100 OZ QUEUE JUMP
NEW TOTAL Of INITIAL GOLD STANDING RISES TO: 12.544 TONNES // ALL OF THIS HAPPENED WITH OUR $21.05 GAIN IN PRICE WITH RESPECT TO FRIDAY’S TRADING. WE HAD A MEGA HUMONGOUS SIZED GAIN OF 31,392 OI CONTRACTS (97.600) PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 2966 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 535,353
IN ESSENCE WE HAVE A MEGA GIGANTIC SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 30,158 CONTRACTS WITH 28,426 CONTRACTS INCREASED AT THE COMEX// AND A STRONG SIZED 2966 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 31,392 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): MEGA MEGA HUMONGOUS SIZED 54,520 CONTRACTS, THE HIGHEST RECORDED ISSUANCE EVER, FOLLOWING FRIDAY’S RECORD BREAKING ISSUANCE OF 41,344
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2966 CONTRACTS) ACCOMPANYING THE GIGANTIC SIZED GAIN IN COMEX OI (27,192) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 31,392 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 STRONG QUEUE JUMP OF 0.6562 TONNES/NEW STANDING ADVANCES TO 13.200 TONNES.
/ 3) ZERO LONG LIQUIDATION // 4) MEGA GIGANTIC SIZED COMEX OPEN INTEREST GAIN/ 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: MEGA HUMONGOUS T.A.S. ISSUANCE: 54,520 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: 45,494 CONTRACTS OR 4,549,400 OZ OR 141.50 TONNES IN 7 TRADING DAY(S) AND THUS AVERAGING: 6,499 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 7 TRADING DAY(S) IN TONNES 141.50 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 141.50/3550 x 100% TONNES 4.00% 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: 141.50 TONNES//THIS IS GOING TO BE ONE HUMDINGER OF AN E,F,P. ISSUANCE.
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 GIGANTIC SIZED 1747 CONTRACTS OI TO 142,481 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 722 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MAY 722 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 722 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 532 CONTRACTS AND ADD TO THE 722 E.FP. ISSUED
WE OBTAIN A HUGE SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1025 CONTRACTS
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTAL 5.125MILLION OZ
OCCURRED WITH OUR TINY $.05 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//
MONDAY MORNING/SUNDAY NIGHT
SHANGHAI CLOSED UP 27.44 PTS OR 0.74% //Hang Seng CLOSED UP 234.18 PTS OR 1.43% / Nikkei CLOSED DOWN 868.65 PTS OR 1.43%//Australia’s all ordinaries CLOSED DOWN 1,78% /Chinese yuan (ONSHORE) closed UP 7.1854 //OFFSHORE CHINESE YUAN CLOSED UP TO 7.1889 /Oil DOWN TO 77.58 dollars per barrel for WTI and BRENT UP AT 81.77/ Stocks in Europe OPENED ALL RED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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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 AN ULTRA HUMONGOUS SIZED 27,192 CONTRACTS TO 535,353 WITH OUR STRONG GAIN IN PRICE OF $21.05 WITH RESPECT TO FRIDAY 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 STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS 2966 EFP CONTRACTS WERE ISSUED: : APRIL 2966 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 2996 CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A MEGA HUMONGOUS SIZED TOTAL OF 30,158 CONTRACTS IN THAT 2966 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A HUGE SIZED GAIN OF 27,192 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $21.05 FRIDAY 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 FRIDAY NIGHT WAS A MEGA MEGA HUMONGOUS SIZED 54,520 CONTRACTS, AN ALL TIME HIGH RECORD ISSUANCE BEATING THURSDAY’S ISSUE BY 11,000 CONTRACTS. THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS CONTINUE TO SELL 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//. IT SEEMS THAT OUR CROOKS ARE HAVING A HARD TIME TRYING TO CONTROL THE PRICE OF GOLD AND THUS THE NEED FOR RECORD T.A.S. ISSUANCE.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: MARCH (13.200 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: 13.200 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT GAINED $21.05 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A MEGA HUMONGOUS SIZED GAIN OF 30,158 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 FRIDAY’S TRADING . THE T.A.S. ISSUED ON FRIDAY 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 93.80 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 21,100 OZ QUEUE JUMP//NEW STANDING INCREASES TO 13.200 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $21.05
WE HAD -REMOVED 1234 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)
NET GAIN ON THE TWO EXCHANGES 30,158 CONTRACTS OR 3,139,200 OZ OR 97.600 TONNES.
estimated volume today 271,467 fair
final gold volumes/yesterday 501,488 wow
//speculators have left the gold arena
MARCH 11/ INITIAL MARCH GOLD
/ /// THE MARCH 2024 GOLD CONTRACT
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 148,151,784 oz HSBC 4608 kilobars 4.608 tonnes . |
| Deposit to the Dealer Inventory in oz | nil oz |
| Deposits to the Customer Inventory, in oz | NIL oz |
| No of oz served (contracts) today | 1567 notice(s) 156,700 OZ 4.8740 TONNES |
| No of oz to be served (notices) | 318 contracts 31,800 oz 0.9891 TONNES |
| Total monthly oz gold served (contracts) so far this month | 3926 notices 392,600 oz 12.211 TONNES |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month | x |
0 dealer deposits:
total dealer deposits: nil oz
total customer withdrawals: 1
i) Out of Brinks: 148,151.784 oz 4608 kilobars
total customer withdrawal: 148,151.784 oz
we had 0 customer deposit
total deposit NIL oz
Adjustments: 1
i) ASAHI/dealer to customer: 14,428.301 oz
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR MAR.
For the front month of MARCH we have an oi of 1885 contracts having GAINED 93 contracts. We had 118 contracts filed upon on Friday, so we gained a monstrous 211 contracts or an additional 21,100 oz of gold(0.6562 tonnes) will stand at the comex in this non active delivery month of March
APRIL LOST 13,683 CONTRACTS FALLING TO 315,521.
MAY EARNED 136 CONTRACTS TO STAND AT 487
JUNE INCREASED ITS OI BY 40,453 CONTRACTS UP TO 164,363 CONTRACTS.
We had 1567 contracts filed for today representing 156,700 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer account and 15 notices were issued from their client or customer account. The total of all issuance by all participants equate to 1567 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 1106 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 (3926 x 100 oz ), to which we add the difference between the open interest for the front month of MARCH. (1885 CONTRACTS) minus the number of notices served upon today 1567 x 100 oz per contract equals 424,400 OZ OR 13.200 TONNES
thus the INITIAL standings for gold for the MARCH. contract month: No of notices filed so far (3926) x 100 oz + (1885) {OI for the front month} minus the number of notices served upon today (1567) x 100 oz which equals 424,400 oz (13.200 TONNES)
TOTAL COMEX GOLD STANDING FOR MARCH: 13.200 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: 1,333,105.842 41,40 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,889,810 OZ
TOTAL REGISTERED GOLD 7,919,595.575 (246,33 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9970,215.139 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,586,460 oz (REG GOLD- PLEDGED GOLD) 204.86 tonnes/dropping like a stone
END
SILVER/COMEX
MARCH 11/INITIAL
//2024// THE MARCH 2024 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 179,066.470 oz cnt Brinks HSBC . |
| Deposits to the Dealer Inventory | nil OZ |
| Deposits to the Customer Inventory | nil oz |
| No of oz served today (contracts) | 61 CONTRACT(S) (305,000 OZ) |
| No of oz to be served (notices) | 231 contracts (1.155 MILLION oz) |
| Total monthly oz silver served (contracts) | 4985 Contracts (24,925 MILLION oz) |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
i) 0 dealer deposit
total dealer deposit:nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 0 deposits customer account:
i
total customer deposits nil oz
JPMorgan has a total silver weight: 129.806 million oz/285.015 million or 45.61%
adjustment: 1
dealer to customer ASAHI 2.405,471 million oz.
Comex withdrawals: 3
i) Brinks: 100,971.750 oz
ii) Out of CNT 60,591.460 oz
iii) Out of HSBC: 16,503.250 oz
total withdrawal: 179,006.250 oz
TOTAL REGISTERED SILVER: 48.213MILLION OZ//.TOTAL REG + ELIGIBLE. 285.012million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:
silver open interest data:
FRONT MONTH OF MARCH /2023 OI: 292 CONTRACTS HAVING LOST 305 CONTRACT(S).
WE HAD 349 NOTICES FILED ON FRIDAY SO GAINED 44 CONTRACTS OR AN ADDITIONAL 220,000 OZ WILL STAND AT THE COMEX
APRIL SAW A GAIN OF 11 CONTRACTS TO STAND AT 840
MAY SAW A LOSS OF 1640 CONTRACTS DOWN TO 113,356.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 349 for 1.745 MILLION oz
Comex volumes// est. volume today 49,998 fair
Comex volume: confirmed yesterday 90,779 very strong
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 4985 x 5,000 oz = 24,925,000 oz
to which we add the difference between the open interest for the front month of MARCH. (292) and the number of notices served upon today 61 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the MARCH/2024 contract month: 4985 (notices served so far) x 5000 oz + OI for the front month of MARCH. (292) – number of notices served upon today (61 )x 500 oz of silver standing for the MARCH contract month equates to 26.080 MILLION OZ.
New total standing: 26.080 million oz.
There are 48.213 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 11 WITH GOLD UP $3.20 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.44 TONNES OF GOLD OUT OF THE GLD AFTER 7 CONSECUTIVE GOLD PRICE RISES//INVENTORY RESTS AT 815.13 TONNES
MARCH 8 WITH GOLD UP $21.05 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 0.87 TONNES OF GOLD OUT OF THE GLD AFTER 7 CONSECUTIVE GOLD PRICE RISES//INVENTORY RESTS AT 816.57 TONNES
MARCH 7 WITH GOLD UP $7.20 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4,20 TONNES OF GOLD OUT OF THE GLD//INVENTORY RESTS AT 817.44 TONNES
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 TODAY HUGE 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: 815.13 TONNES
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
MARCH 11/WITH SILVER UP 11 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A HUGE WITHDRAWAL OF 2.147 MILLION OZ OF SILVER FROM THE SLV//// : SLV INVENTORY RESTS AT 418.323 MILLION OZ…SUCH A MASSIVE FRAUD!
MARCH 8/WITH SILVER DOWN 5 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A HUGE WITHDRAWAL OF 4.299 MILLION OZ OF SILVER FROM THE SLV//// : SLV INVENTORY RESTS AT 420.519 MILLION OZ…SUCH A MASSIVE FRAUD!
MARCH 7/WITH SILVER UP 8 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A HUGE WITHDRAWAL OF 4.665 MILLION OZ OF SILVER FROM THE SLV//// : SLV INVENTORY RESTS AT 424.818 MILLION OZ…SUCH A MASSIVE FRAUD!
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 418.323 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..//
PAM AND RUSS MARTENS
This is what we have been pounding the table! real estate problems at the largest banks have skyrocketed and this is not the smaller regional banks
FDIC Data Contradicts Fed Chair Powell: Shows Real Estate Problems Have Skyrocketed at Largest U.S. Banks, Not the Smaller Regionals
By Pam Martens and Russ Martens:
March 11, 2024
On Sunday, February 4, the CBS program 60 Minutes aired a taped interview with Federal Reserve Chairman Jerome Powell. The actual interview had occurred three days earlier and was conducted by 60 Minutes interviewer Scott Pelley. Two noteworthy things happened in connection with that interview: First, CBS did not indicate above the transcript of the interview that Powell’s comments had been materially shortened in the program that aired on TV; secondly, Powell calls the real estate problem at the largest banks “manageable” while shifting the more serious real estate loan problem to “smaller and regional banks.”Below is what Powell had to say about problem real estate loans at U.S. banks in the 60 Minutes’ interview. The bracketed bold text is what is in the transcript but did not air in the broadcasted program on television. (Scroll to 8 minutes and 20 seconds at this link to listen to the relevant portion of the program that aired.)PELLEY: The value of commercial office buildings all across the country is dropping as people work from home. Those buildings support the balance sheets of banks all across the country. What is the likelihood of another real estate-led banking crisis?POWELL: I don’t think that’s likely. [So, what’s happening is, as you point out, we have work-from-home, and you have weakness in office real estate, and also retail, downtown retail. You have some of that. And there will be losses in that.] We looked at the larger banks’ balance sheets, and it appears to be a manageable problem. There’s some smaller and regional banks that have concentrated exposures in these areas that are challenged. And, you know we’re working with them. [This is something we’ve been aware of for, you know, a long time, and we’re working with them to make sure that they have the resources and a plan to work their way through the expected losses. There will be expected losses. It feels like a problem we’ll be working on for years. It’s a sizable problem. I don’t think — it doesn’t appear to have the makings of the kind of crisis things that we’ve seen sometimes in the past, for example, with the global financial crisis.]More recently, on March 7 of last week, Powell appeared before the Senate Banking Committee to deliver his Semiannual Monetary Policy Report. In the Q&A that followed, Senator Catherine Cortez Masto (D- NV) raised the question with Powell on troubled real estate loans at U.S. banks. Cortez Masto said this:CORTEZ MASTO: The Financial Stability Oversight Council’s 2023 report identified commercial real estate as a financial risk. And the Fed’s monetary report also noted commercial real estate prices continue to decline, especially in the office, retail, and multi-family sectors. I’m especially concerned that because of the low levels of transactions in the office sector, prices have not yet fully reflected the true decline in the value. So can you expand on the emerging risk the Federal Reserve has identified in the commercial real estate market – one – and then, I’m curious, can you discuss the compound risks identified in commercial real estate lending, particularly at banks with large CRE [Commercial Real Estate] concentrations and high fractions of uninsured deposits.”As part of his answer, Powell again played down the real estate threat at the largest banks, stating: “There will be bank failures, but this is not the big banks. If you look at the very big banks, this is not a first order issue for any of the very large banks. It’s more smaller and medium size banks that have these issues.” (Watch the full exchange between Cortez Masto and Powell at one hour and 53 minutes (1:53) on the archived video here.)According to Senator Elizabeth Warren, Powell is leading the charge behind the scenes to overturn federal regulators’ proposal to require the largest banks to hold larger amounts of capital. Downplaying the large banks’ risks from commercial real estate might be part of Powell’s overall agenda to gut the proposed capital rule.Powell has a long history of running interference for the mega banks on Wall Street (those that have combined federally-insured deposits with casino trading) and blaming the Fed’s serial and massive bailouts of these global behemoths on fanciful causes. Nonetheless, we were shocked when the Chair of the Federal Deposit Insurance Corporation (FDIC), Martin Gruenberg, held a press conference at the exact time last week that Powell was addressing the Senate Banking Committee. Gruenberg boldly announced a serious real estate problem inside the largest banks. Gruenberg’s press conference was to deliver the findings of the FDIC’s quarterly “Banking Profile.” Gruenberg stated the following: (Go to 5 minutes and 12 seconds at this link.)GRUENBERG: “The increase in noncurrent loan balances was greatest among CRE [Commercial Real Estate] loans and credit cards. Weak demand for office space has softened property values and higher interest rates are affecting credit quality and refinancing ability of office and other types of CRE loans. As a result, the noncurrent rate for nonowner occupied CRE loans is now at its highest level since first quarter of 2014, driven by portfolios at the largest banks.” (Italic emphasis added.)In fact, according to the chart above and accompanying data provided in an Excel spreadsheet by the FDIC, past due loans on commercial real estate at the largest banks (those with more than $250 billion in assets) as of December 31 of last year are at 4.11 percent. That’s 1.66 percent higher than at the end of the fourth quarter of 2008 when banks were exploding all over Wall Street during the financial crisis. As the chart above indicates, commercial real estate problems quickly became a lot worse at the largest banks, with the past due rate reaching 7.97 by the end of the first quarter of 2010.That 4.11 percent past due rate at the biggest banks on December 31, 2023 compares with a past due rate of 1.35 percent at banks with $10 billion to $250 billion in assets, according to the latest FDIC bank profile data. Banks with $1 billion to $10 billion in assets have a negligible past due rate of 0.64 percent.The title of the FDIC chart above is “Bank Non-Owner Occupied, Nonfarm Nonresidential Loan Past Due and Nonaccrual Rates.” The FDIC defines nonfarm nonresidential commercial properties as follows:“loans secured by real estate as evidenced by mortgages or other liens on nonfarm nonresidential properties, including business and industrial properties, hotels, motels, churches, hospitals, educational and charitable institutions, dormitories, clubs, lodges, association buildings, ‘homes’ for aged persons and orphans, golf courses, recreational facilities, and similar properties.”The FDIC defines “nonaccrual” status as follows:“Nonaccrual — For purposes of this schedule, an asset is to be reported as being in nonaccrual status if: (1) it is maintained on a cash basis because of deterioration in the financial condition of the borrower, (2) payment in full of principal or interest is not expected, or (3) principal or interest has been in default for a period of 90 days or more unless the asset is both well secured and in the process of collection.”The Fed is also doing something else related to growing losses at U.S. banks that is deeply concerning. It has stopped providing the aggregated quarterly data on the loan loss reserves at commercial banks – something it had previously done quarterly since 1984. The Fed data charts now come up with the words “DISCONTINUED.” (See here, here and here.) Our concern is that the largest banks are woefully under-reserved for their potential real estate losses.According to a Federal Reserve chart, as of December 31, 2023, there were only 13 banks in the U.S. with consolidated assets in excess of $250 billion.
END
3. CHRIS POWELL//
The Fed has capitulated: they have covered 68 tonnes of gold from gold swaps with the BIS
(Robert Lambourne/GATA)
Robert Lambourne: BIS gold swaps fall sharply in February, hinting at price reset
Submitted by admin on Sun, 2024-03-10 13:24 Section: Daily Dispatches
By Robert Lambourne
Sunday, March 10, 2024
Gold swaps undertaken by the Bank for International Settlements appear to have fallen sharply in February, according to the bank’s monthly statement of account published last week:
The new statement allows an estimate of 68 tonnes of gold swaps at month’s end, a 49-tonne reduction from January, when the estimated swaps were 117 tonnes.
Hence it appears that February was a much busier month than January for BIS intervention in gold.
The table below sets out the historical level of monthly gold swaps estimated since August 2018.
As is evident from the table, the BIS monthly statements are proof that there is still a considerable level of gold being traded via these swaps. To repeat the point long made in these reports for GATA, it seems that these swaps are undertaken by the BIS for one or more of their central bank customers, with the swapped gold being accounted for as being held in a BIS-registered sight account at a central bank.
Given what is happening in the gold market more generally, it appears reasonable to assume that the Federal Reserve is the BIS’ customer for these gold transactions.The evidence strongly suggests that the source of this gold is bullion banks and the likelihood is that this gold comes from gold registered as being held by gold exchange-traded funds.
If the normal pattern of disclosures from the BIS is followed this year, then it is possible that the bank’s March statement of account will not be published for about the next 12 weeks, a substantial delay. Hence if, as regularly speculated recently, there are shortages of gold affecting the Fed that might force it to reset the gold price, this period presents a good opportunity for a reset to occur.
The main reason for this conclusion is that given its relationship with the BIS, the Fed is highly unlikely to default on these swaps regardless of the severity of gold shortages. Hence, reducing the level of swaps even more substantially before a reset seems to be a highly plausible course of action, since a reset could be arranged more easily amid reduced scrutiny of BIS intervention.
A more detailed report on the use of gold swaps was published recently to cover transactions in December 2023:
https://www.gata.org/node/23016
* * *
Swaps estimated by GATA from BIS monthly statements of account
Month ….. Swaps
& year … in tonnes
Feb-24 …. /68
Jan-24 ….. /117
Dec-23…. /121
Nov-23 …. /100
Oct-23 …. /68
Sep-23 …. /96
Aug-23 …. /129
Jul-23 …. /103
Jun-23…. /87
May-23 …. /188
Apr-23 …. /135
Mar-23 …. /77
Feb-23 … /136
Jan-23 … /103
Dec-22 … /0
Nov-22 … /105
Oct-22 ….. /7
Sep-22 …../57
Aug -22 ….. /75
Jul-22 ….. /56
Jun-22 ….. /202
May-22 ….. /270
Apr-22 ….. /315
Mar-22 …. /358
Feb-22 …. /472
Jan-22 ….. /501
Dec-21…. /414
Nov-21…. /451
Oct-21…. /414
Sep-21 …. /438
Aug-21 …. /464
Jul-21 …. /502
Jun-21 …./471
May-21 …./517
Apr-21 …. /472
Mar-21…. /490
Feb-21 …../552
Jan-21 …. /523
Dec-20 …. /545
Nov-20 …. /520
Oct-20 …. /519
Sep-20…../ 520
Aug-20…../ 484
Jul-20 ….. / 474
Jun-20 …. / 391
May-20 …. / 412
Apr-20 …. / 328
Mar-20 …. / 326
Feb-20 …. / 326
Jan-20 …. / 320
Dec-19 …. / 313
Nov-19 …. / 250
Oct-19 …. / 186
Sep-19 …. / 128
Aug-19 …. / 162
Jul-19 ….. / 95
Jun-19 …. / 126
May-19 …. / 78
Apr-19 ….. / 88
Mar-19 …. / 175
Feb-19 …. / 303
Jan-19 …. / 247
Dec-18 …. / 275
Nov-18 …. / 308
Oct-18 …. / 372
Sep-18 …. / 238
Aug-18 …. / 370
—-
Robert Lambourne is a retired business executive in the United Kingdom who consults for GATA about the involvement of the Bank for International Settlements in the gold market.
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA’s recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here’s what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert’s “Rigged”
“Rigged” is a concise explanation of government’s currency market rigging policy and extensively credits GATA’s work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon —
— or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
end
Comex nears gold and silver defaults, London trader Maguire says
Submitted by admin on Fri, 2024-03-08 13:50 Section: Daily Dispatches
1:51p ET Friday, March 8, 2024
Dear Friend of GATA and Gold (and Silver):
The New York Commodities Exchange is in danger of defaulting on its gold and silver contracts as demand for delivery of metal increasingly is directed there, London metals trader Andrew Maguire tells this week’s “Live from the Vault” program from Kinesis Money.
Short futures positions in the metals, Maguire says, are being destroyed by their excessive leverage amid central bank demand for gold and the realization that silver is grossly underpriced compared to gold.
The interview is 49 minutes long and can be viewed at YouTube here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
end
Canada’s Gabriel Resources loses damage claim against Romania for failed gold mine project
Submitted by admin on Sat, 2024-03-09 11:40 Section: Daily Dispatches
By Luiza Ilie
Reuters
Saturday, March 9, 2024
BUCHAREST, Romania — The Romanian government said Friday it won an arbitrage trial filed by Canada’s Gabriel Resources, which wanted compensation after its plan to build Europe’s largest open-cast gold mine in the western Romanian town of Rosia Montana failed.
Gabriel Resources had sought at least $4.4 billion in damages from Romania when it filed its claim at the World Bank’s International Centre for Settlement of Investment Disputes in 2015 for losses related to its stalled project.
The Romanian government, which had a 20% stake in the project, officially withdrew its support for the mine in 2014 after months of country-wide street protests against it.
“The Romanian government salutes this decision and thanks everyone involved in defending the interests of the Romanian state,” the cabinet of Socialist Prime Minister Marcel Ciolacu said in a statement. The government had initially expected a negative ruling. …
… For the remainder of the report:
* end
Dubai’s gold shops take a hit as record prices deter buyers
Submitted by admin on Sun, 2024-03-10 11:27 Section: Daily Dispatches
By Leen Al-Rashdan
Bloomberg News
Sunday, March 10, 2024
The ever-higher prices reached by gold are turning Dubai’s traditional bazaar into more of a window-shopping experience.
Purchases are plummeting at the Gold Souk, according to salespeople at numerous shops, as bullion goes on a record run that’s now approaching $2,200 an ounce. Most locals are just browsing, leaving the majority of buying to tourists who are willing to pay more while they’re on vacation.
“They ask why it’s so high so they are buying less,” said Yemeni shopkeeper Abdelnaser Alyafie, who’s worked in the market for six years. “The price is very high so people think the small things are OK but if they want to buy the big stuff, more grams, they will think, ‘Let the price go down. Then they’re going to buy.’”
The most affected were the gold brick shops, with workers at three locations saying sales are down by half. One seller who traded in bricks and jewelry said the latter was performing better as the crimp on demand was more notable for heavier items.
Mohammad Tariq manages one of about a dozen Kanz Jewels stores in the massive, open-air market. Business is down about 40% this week, with the makeup of the customers being noticeably different, he said. …
… For the remainder of the report:
https://www.bnnbloomberg.ca/dubai-s-gold-shops-take-a-hit-as-record-prices-deter-buyers-1.2044887
4. OTHER MAJOR GOLD COMMENTARIES/PODCASTS//LIVE FROM THE VAULT
end
end
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 MONDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP 7.1884
OFFSHORE YUAN: UP TO 7.1889
SHANGHAI CLOSED UP 27.45 PPTS OR 0.74%
HANG SENG CLOSED UP 234.18 PTS OR 1.43%
2. Nikkei closed DOWN 868.45 PTS OR 2.19%
3. Europe stocks SO FAR: ALL RED
USA dollar INDEX DOWN TO 102.33 EURO RISES TO 1.0941 UP 13 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +.759 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 146.72/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: UP/ OFFSHORE: UP
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil DOWN for WTI and DONW FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.2740***/Italian 10 Yr bond yield UP to 3.594* /SPAIN 10 YR BOND YIELD UP TO 3.092…**
3i Greek 10 year bond yield DOWN TO 3.137
3j Gold at $2178.00 silver at: 24.42 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 90.59//
3m oil into the 77 dollar handle for WTI and 82 handle for Brent/
3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/
JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 146.72// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.759% 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 0.8771 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9591 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: 4.083 DOWN 1 BASIS PTS…
USA 30 YR BOND YIELD: 4.247 DOWN 2 BASIS PTS/
USA 2 YR BOND YIELD: 4.503 UP 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 32.01…(TURKEY SET TO BLOW UP FINANCIALLY)
GREAT BRITAIN/10 YEAR YIELD: DOWN 1 BASIS PTS AT 3.995
end
2.a Overnight: Newsquawk and Zero hedge
Futures Drop As Nvidia Extends Slide, Japan Stocks Tumble, Bitcoin Hits $72,000
MONDAY, MAR 11, 2024 – 08:17 AM
US equity futures are poised to open lower on Monday, extending Friday’s slide into this data-heavy week after pulling back from all-time highs at the end of last week, with technology shares leading declines in the wake of data giving mixed signals about the strength of the job market. Ahead of tomorrow’s CPI print, S&P futures were down 0.2% at 7:50am, but off the worst levels of the session.
Nasdaq futures dropped 0.3% with Nvidia fluctuating wildly in the pre-market after its huge 10% intraday reversal on Friday, which followed a weaker than expected jobs report (and actually quite catastrophic NFP print if one actually reads the details).
The overnight session also saw the Nikkei 225 tumble 2.2%, and the drop was far worse earlier before a sharp ramp in the last 30 minutes of trading, as growing speculation the Bank of Japan will end Yield Curve Control and/or raise interest rates lifted the yen and hurt exporters
Bitcoin briefly topped $72,000 for the first time, advancing for a sixth straight day and taking this year’s rally to almost 70% on the back of massive inflows into US exchange-traded funds; a tacit endorsement by Donald Trump who will be the next president in November, also helped push the crypto currency higher
Elsewhere, bond yields were mixed with 10Y yield rising 1bp to 4.08%; the USD is flat following its worst performing week of the year. Commodities are mixed with strength in Energy but weakness in Ags/Metals; base metals are underperforming precious metals with iron ore plunging 7%. CPI is the macro focus this week but there are several bond auctions to watch esp. with the potential for BOJ to tweak YCC/ZIRP next week.
In premarket trading, cryptocurrency-linked companies rally as Bitcoin extends gains to an all-time high, surpassing the $71,000 mark. Among movers Coinbase Global (COIN) +7.2%, Riot Platforms (RIOT) +5.7%. Boeing dropped 1.4% after a weekend of negative headlines, which included the DOJ opening a criminal investigation into the incident on an Alaska Airlines-operated 737 Max 9 jet in January, and also another mid-air incident, this time involving a Boeing 787. Here are some other notable premarket movers.
- Choice Hotels gains 3.3% after the company ends attempts to combine with Wyndham Hotels & Resorts (WH). Wyndham falls 5.3%.
- EQT falls 3.7% after agreeing to buy back its former unit Equitrans Midstream Corp. (ETRN) in an all-stock transaction valued at about $5.2 billion, the latest in a flurry of deals in the oil and gas industry. Equitrans rises 8.7%.
- Lexicon Pharmaceuticals gains 11% after the placement of $250 million of equity securities.
- The company also posted quarterly results.
- Revance Therapeutics advances 6.5% after the biopharmaceutical company reported to the SEC on Friday that CEO Mark Foley purchased 30,000 shares valued at $209,400.
- Staar Surgical rises 4.6% after Stifel raised its rating on the implantable eye lens company to buy, citing a favorable entry point and potential upside to first-quarter sales.
Looking at this week’s main economic event, Tuesday’s CPI report, BBG calls it “a key piece of the puzzle” toward completing the backdrop for the Fed to start cutting rates in the middle of the year. While comments from policy makers last week appeared very dovish, and swaps traders see a June rate cut as a virtual lock, a stronger-than-anticipated jump in consumer prices could derail rallies in stocks and bonds fueled by confidence that the Fed is on the verge of pulling inflation back to its target. That was the case last month, when the CPI data triggered a market selloff. The impact may be stronger this time because it’s the last major piece of economic data before the Fed’s March 20 meeting.
“The bottom line is that loads of folk are preoccupied trying to predict or front-run a first Fed rate cut,” said Mark Dowding, the CIO at RBC BlueBay Asset Management. “I still see this as some months away.”
Further moderation in US prices would support the disinflation narrative that broadly remains intact, despite a pullback in the number of Fed rate cuts expected this year. Core prices in the consumer price index are expected to tick 0.3% higher in February from a month earlier, and 3.7% on a year-over-year basis — which would be the smallest annual rise since April 2021. Recent comments from policy makers have supported the case for easing. The S&P 500 rallied 1% Thursday when Powell said in his testimony before the Senate that the central bank is “not far” from being ready to cut interest rates. The same day, Powell’s European counterpart Christine Lagarde said the European Central Bank could start reducing rates as soon as June, sending the Stoxx Europe 600 Index up 1.3%.
“A lack of a second-half growth inflection could serve as a headwind for economically sensitive areas of the market, particularly if the Fed holds off on cutting rates longer than expected,” according to Morgan Stanley’s chief US equity strategist Michael Wilson, one of the most prominent bearish voices on Wall Street. His 2024 target for the S&P 500 is 4,500, implying a roughly 12% drop from Friday’s close.
European stocks fell for the first time in four sessions, with the Stoxx 600 down 0.6% as basic resources led declines after iron ore slumped on slackening demand from China. Tech stocks are also underperforming, as they did on Wall Street on Friday. Here are the biggest movers Monday:
- LEG Immobilien climbs as much as 4.4%, lifted by a better-than-expected dividend proposal from the German residential property firm and expectations of stabilization in real estate prices
- HelloFresh shares rise as much as 5.7%, rebounding slightly after Friday’s profit warning sent the meal-kit firm tumbling 42%, with some analysts defending the firm, while other cut their price targets
- Admiral gains as much as 4.4% as Berenberg sees “plenty of reasons to be very optimistic” about the UK car insurance company’s outlook and hikes estimates for the next two years
- Darktrace shares gain as much as 10% as the cybersecurity firm extends a post-earnings rally, with Numis upgrading its forecasts for adjusted Ebitda margin for FY24 through FY26
- Enel shares rise as much as 1.4% after Italy’s biggest utility said Saturday that it will sell a majority stake in its electricity distribution activities in the Milan region to competitor A2A
- European chip stocks see wide losses following Friday’s drop among US peers. BE Semiconductor leads declines, sliding for a second day amid concerns over the adoption of its hybrid bonding technology
- Telecom Italia falls as much as 9.9% as investors remained skeptical over the firm’s attempt to reassure the markets that a planned €22b sale of its network later this year will allow it to meet debt targets
- Currys shares fall as much as 12% to trade below the initial proposed offer from Elliott, after the US firm said it is not in an “informed position” to make an improved offer for the retailer
- Raiffeisen falls as much as 12% in Vienna on news the Austrian lender had a meeting last week with US government representatives over the matter of sanctions with Russia
- JDE Peet’s drops as much as 4.9% after the coffee company announced late Friday that its CEO Fabien Simon would be departing the firm. ING said the change “can’t come soon enough”
- Italian lenders drop after the Bank of Italy said it plans to introduce a capital buffer to cover systemic risks equal to 1.0% of domestic exposures weighted for credit and counterparty credit risks
Earlier in the session, Asian stocks fell for the first time in four days, dragged lower by a pullback in high-flying semi shares and a selloff in Japanese equities. The MSCI Asia Pacific Index declined as much as 1.2% and was headed for its biggest drop since Jan. 17. The region’s chip stocks, which rallied alongside US peers last week on optimism that generative artificial intelligence will boost demand, slumped on Monday after worries over lofty valuations triggered Nvidia Corp.’s worst slump since May. TSMC was the biggest drag on the Asian benchmark, followed by Japan’s Toyota.
The Nikkei 225 Index lost more than 2% and slumped below 39,000 as growing speculation the Bank of Japan will raise interest rates boosted the yen and hurt exporter shares. Stocks in Hong Kong and China bucked the broad regional downtrend after data on Saturday showed Chinese consumer prices rose for the first time since August, easing some concerns over deflation. Bilibili led a rally in tech stocks in Hong Kong after JPMorgan upgraded the stock on strong guidance.
In FX, the Bloomberg Dollar Spot Index slipped 0.1%, extending losses into a seventh day, its longest losing streak in almost four years. The yen tops the G-10 FX pile, rising 0.3% versus the greenback as speculation swirls around the Bank of Japan meeting next week – the BOJ did refrain from ETF buying today even after the Topix fell 2.3% by midday local time.
In rates, treasuries are narrowly mixed with front-end of the curve underperforming slightly; 2-year yields cheaper by around 2bp on the day. US 10-year yields around 4.08%, marginally cheaper on the day with bunds lagging by around 0.5bp and gilts outperforming by 1.5bp in the sector; front-end underperformance in the US flattens 2s10s spread by 1.2bp on the day and 5s30s by 1.5bp. Moves across core European rates also muted, with bunds marginally flatter. The US session includes a wave of supply, with heavy corporate issuance expected alongside an auction of 3-year Treasury notes. Tuesday brings CPI data, and 10- and 30-year debt auctions are slated for the first half of this week. US auctions kick-off at 1pm New York with $56b 3-year note sale, followed by $10b 10-year and $22b 30-year on Tuesday and Wednesday, respectively.
In commodities, oil held a loss ahead of reports from OPEC and the IEA this week that may provide clues on the demand outlook. WTI traded near $78. Spot gold is also little changed around $2,178/oz, trading at an all time high.
In crypto, Bitcoin briefly topped $72,000 for the first time, advancing for a sixth straight day and taking this year’s rally to almost 70% on the back of massive inflows into US exchange-traded funds; a tacit endorsement by Donald Trump who will be the next president in November, also helped push the crypto currency higher; Ethereum soared past 4k and is also approaching its all time high. LSE said it will accept applications for the admission of Bitcoin (BTC) and Ethereum (ETH) crypto ETNs in Q2 2024. Indian cryptocurrency investment platform Mudrex is now offering US spot-Bitcoin (BTC) exchange-traded funds (ETFs) to Indian investors, according to CoinDesk.
On the economic data calendar today we have the February New York Fed 1-year inflation expectations; main events this week includes CPI, retail sales, PPI, Empire manufacturing, industrial production and University of Michigan sentiment. No scheduled Fed speakers due before March 20 policy decision
Market Snapshot
- S&P 500 futures down 0.1% to 5,122.25
- STOXX Europe 600 down 0.3% to 501.77
- MXAP down 0.8% to 176.35
- MXAPJ little changed at 536.84
- Nikkei down 2.2% to 38,820.49
- Topix down 2.2% to 2,666.83
- Hang Seng Index up 1.4% to 16,587.57
- Shanghai Composite up 0.7% to 3,068.46
- Sensex down 0.5% to 73,765.19
- Australia S&P/ASX 200 down 1.8% to 7,704.22
- Kospi down 0.8% to 2,659.84
- German 10Y yield little changed at 2.26%
- Euro little changed at $1.0942
- Brent Futures up 0.1% to $82.18/bbl
- Gold spot up 0.0% to $2,179.85
- US Dollar Index little changed at 102.70
Top Overnight News
- European stocks fell along with US equity futures at the start of a data-heavy week that will test the market’s conviction that Federal Reserve Chair Jerome Powell and his colleagues are moving closer to dialing back their inflation fight: BBG
- Japan’s economy avoided falling into a recession at the end of last year, helped by robust spending by businesses, an outcome that improves the optics for the central bank as it mulls the timing of its first interest rate hike since 2007: BBG
- China’s CPI overshoots expectations in Feb (+0.7%, up from -0.8% in Jan and ahead of the Street’s +0.3% forecast) while PPI deflation worsened (-2.7%, down from -2.5% in Jan and below the Street’s -2.5% forecast). SCMP
- Since touching a five-year low in February, China’s benchmark CSI 300 index has climbed 14%. But traders and analysts say those searing gains have been driven chiefly by China’s so-called “national team” of state-run institutions buying in tandem with the CSRC’s punitive actions. There is little renewed appetite among either local or foreign investors, many of whom want to see much more monetary and fiscal stimulus from Beijing. And strategists point to a rally in Chinese government bonds that they say reflects persistent concerns over slowing growth. FT
- Iron ore slumped 7% — dropping below the $110 a ton mark — after disappointing demand in China left the market lumbered with swelling inventories. The plunge in the steelmaking ingredient was the most since mid-2022 on an intraday basis, and it was headed for the lowest close since August last year. BBG
- Apple and Tesla cracked China, but now the two largest US consumer companies in the country are experiencing cracks in their own strategies as domestic rivals gain ground and patriotic buying often trumps their allure. Falling market share and sales figures reported this month indicate the two groups face rising competition and the whiplash of US-China geopolitical tensions. Both have turned to discounting to try to maintain their appeal. FT
- BOE comes under growing pressure to ease policy as the UK jobs market reveals cracks (the latest Recruitment and Employment Confederation/KPMG report showed starting salary growth falling to the lowest level in nearly 3 years). London Times
- Ukraine could begin flying Western F16 fighter jets as soon as July, although there won’t be many of them initially. NYT
- President Biden signed a $460 billion spending package on Saturday to avert a shutdown of critical federal departments even as lawmakers continue to wrestle over a financing blueprint for many other agencies more than halfway into the current fiscal year. NYT
- IRS says it can deliver an expanded Child Tax Credit (CTC) automatically to families without any extra work (meaning Congress isn’t facing a deadline of April to pass the needed legislation as the IRS can remit the cash automatically regardless of whether a family has filed taxes). WaPo
- OpenAI said that Mr. Altman, who returned to OpenAI just five days after he was pushed out in November, did not do anything that justified his removal and would regain the one role at the company that still eluded him: a seat on the company’s board of directors. NYT
A more detailed look at global markets courtesy of Newsquawk
APAC stocks traded with a downbeat mood with most major indices pressured after Friday’s tech-led declines in the US, while participants also digested last week’s hawkish BoJ source reports and Japanese GDP. ASX 200 slumped in which the mining and resources industries led the declines across all sectors. Nikkei 225 fell beneath the 39,000 level following recent source reports that suggested a potential exit from NIRP this month and after Japan’s revised Q4 GDP data missed expectations but showed the economy averted a technical recession. Hang Seng and Shanghai Comp. bucked the trend with the former boosted by tech strength and with Hong Kong’s top market regulator seeking an expansion of the Stock Connect and lower the asset threshold for mainland China investors to CNY 100k. Conversely, the mainland was much less decisive after mixed Chinese inflation data which showed a return to acceleration in consumer prices.
Top Asian News
- China’s Housing Minister said they should let some property developers go bankrupt or restructure according to legal and market-based rules, while the official stated that commercial banks have approved over CNY 200bln of loans for housing projects as of February under the coordinated mechanism. The minister said home sales will improve in an orderly and forceful way and China is to improve the supply of government-supported affordable housing, while they will work with the top financial regulator to guide cities to set up the property funding coordination mechanism. Furthermore, it was also stated that the priorities this year are work on construction kick-offs, housing quality and construction security.
- China’s Human Resources Minister said overall employment pressure has not eased and structural problems remain in the jobs market, while the minister added that they are confident they can keep stable employment and that demand for jobs is high in AI and big data sectors, according to Reuters.
- Chinese regulators held meetings with financial firms to discuss China Vanke (2202 HK) debt, while regulators asked large Vanke lenders to enhance financing support and asked private debt holders to discuss maturity extension, according to Reuters sources.
- US President Biden’s administration is weighing sanctions on several tech companies including memory chipmaker ChangXin Memory Technologies, according to Bloomberg.
- Hong Kong’s top market regulator called for an expansion of the Stock Connect and is seeking to lower the asset threshold for mainland China investors to CNY 100k, according to Bloomberg.
- Japan’s Keidanren Chair says they are feeling greater momentum for wage hikes at this year’s spring labour talks vs the prior year. High possibility the BoJ will normalise monetary policy in the near future, do not know if this will occur in March. Likelihood of achieving inflation around 2% is increasing. Prolonged monetary easing as a “shot in the arm” for the economy is not healthy.
- Japanese PM Kishida is to hold a three-way meeting between the government, labour and corporate management on March 13th to strengthen momentum for higher wages.
- BoJ makes no ETF purchases on Monday, “despite morning decline in TOPIX”, Bloomberg says.
- China is said to be studying lower down payment ratio for cars, according to Chinese Premier Li cited by Bloomberg
European bourses, Stoxx600 (-0.4%), are entirely in the red, with the Eurostoxx50 (-0.7%) hampered by significant losses in chip-maker ASML (-3.3%). European sectors hold a strong negative tilt; Real Estate is propped up by Leg Immobilien (+5.5%), post-earnings; Tech is weighed on by negative sentiment permeating within the semi-conductor industry. US equity futures (ES -0.1%, NQ -0.1%, RTY +0.1%) are mixed and are trading on either side of the unchanged mark; earlier, the NQ posted heftier losses, hampered by Nvidia (+1.6% pre-market), which was initially lower by as much as 2% in the pre-market, though has since reversed course. Newsflow around NVDA includes a lawsuit regarding NeMo AI and a WSJ profile article.
Top European News
- ECB’s Kazimir saw the ECB should wait until June with the first rate cut; rushing a move is not smart or beneficial. Upside risks to inflation are “alive and kicking”. Need more hard evidence and only in June will confidence threshold be reached. Discussions on easing should already start, ECB will use weeks ahead of that. Prefers “smooth and steady” cycle of policy easing.
- UK PM Sunak is reportedly mulling curbs to welfare spending to fund the government’s ambition of further tax reductions, according to The Sunday Times.
- Exit polls suggest Portugal’s centre-right coalition is on course to narrowly defeat the incumbent socialists but fall well short of a majority in Sunday’s closely fought snap general election, according to The Guardian. It was later reported that Portugal’s socialist leader Pedro Nuno Santos conceded defeat and the leader of the centre-right democratic alliance Luis Montenegro claimed victory.
- Polish Central Bank projections: Scenario of extended anti-inflation measures, sees 2024 CPI at 3.0%, 2025 at 3.4% and 2026 at 2.9%; If not extended then sees 2024 CPI at 5.7%, 2025 at 3.5% and 2026 at 2.7%.
- UBS expects the BoE to start cutting rates in August vs May expected earlier.
FX
- DXY is flat but the USD is showing varied performance vs. peers. 102.63 low print for the session is above Friday’s NFP-induced trough at 102.35. Conviction on USD-related moves likely to be low today given CPI on Tuesday.
- Steady trade for EUR/USD in quiet newsflow within tight parameters of 1.0933-47 and respecting Friday’s 1.0918-81 range.
- JPY’s recent strong run vs. the USD has continued with the currency receiving a boost from GDP figures which showed Japan did not enter a technical recession at the end of last year. USD/JPY has been as low as 146.54 but is yet to crack Friday’s trough at 146.48.
- Antipodeans are both softer vs. the USD but AUD more so after being hampered by Iron ore futures falling over 7% in Singapore. AUD/USD is just about maintaining 0.66 status.
- NOK is weaker in the wake of softer-than-expected Norwegian inflation metrics but well within recent ranges vs. the EUR.
Fixed Income
- Overall trade for Bunds have been contained; benchmarks derived a modest bid alongside a dip in broader risk sentiment, with the ‘haven’ move taking Bunds to a 134.04 peak before paring. A move which stopped shy of Friday’s 134.15 best. Hawkish sentiment from ECB’s Kazimir sparked modest pressure in the Bunds, though ultimately proved fleeting as his remarks echoed recent sources which favour a June cut.
- UST price action is following EGBs but with the magnitude of moves even more limited; currently trading towards the mid-point of narrow 111-23 to 111-31 bounds. Fed blackout underway and no Tier 1 data due today as we await US CPI on Tuesday and 3yr supply this evening.
- Gilts once again the relative outperformers, but directionally in-fitting with peers. High of 99.99 is just a handful of ticks shy of last week’s 100.03 peak, which also marks the contract high. As above, the docket ahead remains light.
Commodities
- Crude is modestly firmer, having spent the majority of the European morning flat despite ongoing geopolitical tensions and after reports that Saudi is to reduce Arab heavy crude supply next month, due to oil field maintenance; Brent holds just shy of USD 82.50/bbl.
- Precious metals are holding mild upward biases amid a steady/caged Dollar, with newsflow light this morning and the calendar sparse; XAU sits in a USD 2,175-2,189.12/oz range.
- Base metals are flat/mixed amid a steady Dollar and little in terms of fresh fundamental newsflow to drive price action. That being said, Iron ore slumped in APAC hours despite a clear driver, but with some suggesting sub-par stimulus for the Chinese Real Estate market.
- Saudi Arabia plans to reduce Arab heavy crude supply to term customers in Asia next month due to oil field maintenance, according to Reuters sources.
- Saudi Aramco CEO said FY saw lower crude oil prices and lower volumes sold but noted that 2023 saw global oil demand reach record levels despite geopolitical tensions and they expect the global oil market to remain healthy this year, while he considers supply and demand to be in reasonable balance. Saudi Aramco CEO said they are ready and able to react to market opportunities and can increase maximum capacity if needed. Furthermore, they are interested in LNG in the US and are looking at further opportunities to invest in China, as well as see significant growth in oil demand in China and Asia, according to Reuters.
- Qatar set April marine crude OSP at Oman/Dubai + USD 0.25/bbl and land crude OSP at Oman/Dubai + USD 0.05/bbl, according to a pricing document cited by Reuters.
Geopolitics: Middle East
- US President Biden said it is always possible that there could be a Gaza ceasefire before Ramadan and he was not giving up, while he said he believes Israeli PM Netanyahu is “hurting Israel more than helping Israel” with his approach to the war against Hamas in Gaza and must pay more attention to the innocent lives being lost. Furthermore, Biden warned that an assault on Rafah is a “red line” but added that he is not going to cut off weapons to Israel and didn’t specify what the “red line” meant, in an MSNBC interview.
- Israeli PM Netanyahu said he intends to push ahead with an invasion of Rafah and insisted his priority is to prevent another terror attack like the October 7th Hamas raid, according to POLITICO.
- Israel conducted a raid targeting agricultural land near the Egyptian-Palestinian border in the Al Salam neighbourhood in Rafah, according to a correspondent cited by Al Jazeera.
- Five civilians were killed and nine were injured in an Israeli strike on a border village in southern Lebanon, according to Reuters.
- US Central Command said US Army vessel General Frank S. Besson departed for the eastern Mediterranean to provide humanitarian aid to Gaza by sea and is carrying the first equipment to establish a temporary pier vital for humanitarian supplies, according to Reuters.
- US Central Command said US Navy vessels and aircraft along with multiple coalition navy ships and aircraft shot down 15 one-way attack UAVs, while it was later reported that the US military downed a total of at least 28 uncrewed aerial vehicles in the Red Sea on Saturday, according to Reuters.
- UK Defence Minister said HMS Richmond shot down two drones on Friday night to repel a Houthi attack, while it was also reported that the French military destroyed four combat drones heading towards the European naval mission in the Gulf of Aden.
- “Israeli reports: Hamas deputy head Marwan Issa killed in shelling of Nuseirat camp”, according to Sky News Arabia.
Geopolitics: Other
- German Foreign Minister Baerbock is open to a missile swap with the UK to arm Ukraine, according to dpa.
- US and Japan are considering defence cooperation which could help Ukraine with the two sides looking at an arms arrangement ahead of a summit next month, according to Yomiuri.
- Iran, Russia and China are to hold joint naval drills on March 12th, via MEHR.
US Event Calendar
- 11:00: Feb. NY Fed 1-Yr Inflation Expectat, prior 3.00%
DB’s Jim Reid concludes the overnight wrap
A very good late afternoon from a hot Sydney where it’s been nice to be back after a decade, even if the trip has caused havoc with my body clock. I’d also forgotten how crushingly mind-numbing a 24-hour flight is. However, this weekend the alternative was a sleepover at home for five so I still may have been dealt the better hand.
Last night, I published a new chartbook that I thoroughly enjoyed researching with my team, entitled “Geopolitics: 2000 years of long-term charts”. The pack shows how the global geopolitical situation got to where it is today in the form of long-term charts and maps. It also tries to understand the likely paths going forward. Geopolitics is heavily linked to the changing nature of economic, military and demographic power across the world. These tectonic plates can grind against each other for years or decades, before shifting dramatically and causing a major upheaval in the global balance of power. Perhaps the biggest lesson from the pack and from history is that in the world of geopolitics and international relations, there are few permanent fixtures, only constant change. See the pack here.
In 2000 years I’m not sure if $250bn has ever been wiped off a stock in 3 hours before. That’s what happened to Nvidia on Friday as the stock went from being around +5% up to -6.5% down intraday before closing -5.55%. Then in after-hours trading on Friday, it was down almost another -3%. Remarkably it was still up +6.38% on the week, +21.3% in March so far, and has still posted a tenth week of consecutive gains. That said, the sell-off late in the week meant the S&P 500 (-0.65% Friday) was down -0.26% for the week, and just missed out on advancing for 17 of 19 weeks for the first time since 1964. The macro world is still in hock to the Mag-7 so keep an eye out for what happens next, but this week the macro world will have its own things to focus on with US CPI tomorrow.
On that, with 10yr US yields around -10bps lower, and the S&P 500 around +2% higher than where they were just before last month’s higher-than-expected CPI, it’s fair to say that markets have shrugged off this upside print alongside the high PPI and core PCE prints that followed. Before we preview the US CPI (tomorrow) and PPI (Thursday), the other main US highlights are the NY Fed 1-yr inflation expectations survey (today), retail sales (Thursday) and UoM consumer sentiment (Friday). There are also 3-, 10- and 30-yr UST auctions today through Wednesday.
In Europe, the monthly UK GDP for January on Wednesday and labour market indicators tomorrow come a week before the next BoE meeting. In Asia, we have China’s 1-yr MLF rate where our economists think we will see a 15bps cut. In Japan, the 1st survey results from the important shunto wage negotiations will be released on Friday, which will be key ahead of the BoJ meeting a week tomorrow where speculation mounts that negative rates will end. These are the main highlights but see the full week ahead at the end for all the week’s key global events.
Now expanding on the main event. With gas prices up around 4.1% from January, our economists expect headline CPI (+0.41% forecast, consensus +0.4%, vs. +0.31% previously) to grow faster than core (+0.30%, consensus +0.3%, vs. +0.39% previously). This would bring YoY core CPI two-tenths lower to 3.7%, with headline flat at 3.1%. Of some concern would be the three-month annualised rate ‘only’ ticking down a tenth to 3.9% while the six-month annualised rate would rise a tenth to 3.7%. See our economists preview and post-print webinar registration details here.
For Thursday’s PPI, the main interest will be the sub components that feed into core PCE forecasts. As our economists point out, one of the more important will be the PPI for portfolio management and investment advice, which tends to follow equity prices with a one-month lag. We’ve seen a further equity rally since last month so it could be firm again. This remarkably added about 8bps to the January core PCE print despite only being about 1.6% of the basket. Our economists will also be scrutinising the PPI for selected health care industries, as this category currently has the highest weight in core PCE.
Overnight in Asia, Japanese equities are leading the slump, with the TOPIX (-3.03%) and the Nikkei (-2.87%) both experiencing sharp declines. In fact for the TOPIX, that currently leaves it on track for its worst daily performance since February 2021. The moves follow an upgrade to Japan’s GDP in Q4, with the latest release pointing to an annualised +0.4% expansion, rather than the -0.4% contraction that was first reported. In turn, that’s added to expectations that the Bank of Japan is set to adjust its negative interest rate policy as soon as the March meeting next week, with markets pricing in a 74% prospect of a shift. That’s also meant the J apanese Yen has strengthened further this morning, up +0.08% against the US Dollar, whilst the 2yr government bond yield (+0.7bps) is at its highest level since 2011 this morning.
That downbeat tone has been echoed elsewhere, with futures for the S&P 500 down -0.20% this morning. In Australia, equity markets have also slumped, with the S&P/ASX 200 down -1.82%. However, Chinese equities have been the exception to that pattern, with the CSI 300 (+0.59%) and the Shanghai Comp (+0.08%) both advancing, whilst the Hang Seng is up by a larger +1.29%. That comes after China’s February inflation data was released over the weekend, which showed CPI up by +0.7% year-on-year (vs. +0.3% expected). It also marks the fastest pace of inflation since March last year. However, PPI remained in deflationary territory, with a -2.7% decline in February (vs. -2.5% expected).
Looking back on last week, we had another payrolls Friday, which beat expectations after rising by 275k (vs 200k expected). Meanwhile, the unemployment rate rose to 3.9% (vs 3.7%), its highest level since December 2021, while average hourly earnings slowed to +0.1% (vs +0.2% expected). These headline moves were supportive of a soft landing narrative, but there were also some weaker details, notably a -124k downward revision to January’s payrolls. So a mixed release, suggestive of a cooler if still resilient US labour market.
Off the back of this, markets increased the amount of rate cuts expected this year. The amount of Fed cuts expected by the December meeting increased by +2.8bps on Friday (and +3.6bps on the week) to 95bps, though this did retreat after pricing in as much as 103bps shortly after the payrolls release. The first 25bps cut is nearly fully priced by June at 92% (vs 96% the day before and last week).
The data flow combined with slightly dovish central bank commentary sent sovereign bond yields lower last week. Yields on 2yr Treasuries fell -5.6bps (and -2.6bps on Friday), while 10yr yields fell -10.6bps to 4.08%, their lowest level in over a month (-0.9bps on Friday). Over in Europe, yields moved lower following the ECB decision last Thursday, with 10yr bund yields falling -14.6bps (and -3.9bps on Friday).
For equities, the S&P 500 had a soft end to the week, falling -0.65% on Friday. This left the index down -0.26% on the week, so as we mentioned at the top, narrowly missing out on recording 17 out of 19 weekly gains for the first time since 1964. Friday’s reversal was led by tech stocks, with NASDAQ down -1.16% (and -1.17% on the week) and the Magnificent 7 down -1.68% (-1.23% on the week). The tech stock volatility was exemplified by Nvidia, which closed -5.55% lower on Friday (and >10% down from its intra-day peak), but was still up +6.38% on the week to post a tenth week of consecutive gains. The equity optimism was more stable elsewhere, with the equal-weighted version of the S&P 500 up +0.91% on the week (-0.17% Friday), while in Europe the STOXX 600 gained +1.14% (+0.02% on Friday), hitting another record.
Finally in commodities, gold hit an all-time high in nominal terms of $2179/oz after rising +4.61% (and +0.96% on Friday). Bitcoin hit another all-time high last week, briefly trading above $70,000 for the first time early on Friday before ending the European session at $68,463 (up +10.57% on the week).
2 B) NOW NEWSQUAWK (EUROPE/REPORT)
Tech weakness weighs on European indices, JPY bid post-GDP & Bonds contained – Newsquawk US Market Open
MONDAY, MAR 11, 2024 – 06:37 AM
- European equities are lower, dragged down by losses in the semi-conductors; US equity futures are mixed
- Dollar is flat, JPY continues its recent advances, helped by the regions GDP figures
- Bonds are contained within relatively tight ranges; ECB’s Kazimir sparked a modest hawkish reaction
- Crude is modestly firmer; XAU flat and base metals mixed
- Looking ahead, US Employment Trends, Japanese Corporate Goods Price, NY Fed Survey of Consumer Expectations, Supply from the US, Earnings from Oracle.
EUROPEAN TRADE
EQUITIES
- European bourses, Stoxx600 (-0.4%), are entirely in the red, with the Eurostoxx50 (-0.7%) hampered by significant losses in chip-maker ASML (-3.3%).
- European sectors hold a strong negative tilt; Real Estate is propped up by Leg Immobilien (+5.5%), post-earnings; Tech is weighed on by negative sentiment permeating within the semi-conductor industry.
- US equity futures (ES -0.1%, NQ -0.1%, RTY +0.1%) are mixed and are trading on either side of the unchanged mark; earlier, the NQ posted heftier losses, hampered by Nvidia (+1.6% pre-market), which was initially lower by as much as 2% in the pre-market, though has since reversed course. Newsflow around NVDA includes a lawsuit regarding NeMo AI and a WSJ profile article.
- Click here and here for the sessions European pre-market equity newsflow, including earnings.
- Click here for more details.
FX
- DXY is flat but the USD is showing varied performance vs. peers. 102.63 low print for the session is above Friday’s NFP-induced trough at 102.35. Conviction on USD-related moves likely to be low today given CPI on Tuesday.
- Steady trade for EUR/USD in quiet newsflow within tight parameters of 1.0933-47 and respecting Friday’s 1.0918-81 range.
- JPY’s recent strong run vs. the USD has continued with the currency receiving a boost from GDP figures which showed Japan did not enter a technical recession at the end of last year. USD/JPY has been as low as 146.54 but is yet to crack Friday’s trough at 146.48.
- Antipodeans are both softer vs. the USD but AUD more so after being hampered by Iron ore futures falling over 7% in Singapore. AUD/USD is just about maintaining 0.66 status.
- NOK is weaker in the wake of softer-than-expected Norwegian inflation metrics but well within recent ranges vs. the EUR.
- Click here for more details.
FIXED INCOME
- Overall trade for Bunds have been contained; benchmarks derived a modest bid alongside a dip in broader risk sentiment, with the ‘haven’ move taking Bunds to a 134.04 peak before paring. A move which stopped shy of Friday’s 134.15 best. Hawkish sentiment from ECB’s Kazimir sparked modest pressure in the Bunds, though ultimately proved fleeting as his remarks echoed recent sources which favour a June cut.
- UST price action is following EGBs but with the magnitude of moves even more limited; currently trading towards the mid-point of narrow 111-23 to 111-31 bounds. Fed blackout underway and no Tier 1 data due today as we await US CPI on Tuesday and 3yr supply this evening.
- Gilts once again the relative outperformers, but directionally in-fitting with peers. High of 99.99 is just a handful of ticks shy of last week’s 100.03 peak, which also marks the contract high. As above, the docket ahead remains light.
- Click here for more details.
COMMODITIES
- Crude is modestly firmer, having spent the majority of the European morning flat despite ongoing geopolitical tensions and after reports that Saudi is to reduce Arab heavy crude supply next month, due to oil field maintenance; Brent holds just shy of USD 82.50/bbl.
- Precious metals are holding mild upward biases amid a steady/caged Dollar, with newsflow light this morning and the calendar sparse; XAU sits in a USD 2,175-2,189.12/oz range.
- Base metals are flat/mixed amid a steady Dollar and little in terms of fresh fundamental newsflow to drive price action. That being said, Iron ore slumped in APAC hours despite a clear driver, but with some suggesting sub-par stimulus for the Chinese Real Estate market.
- Saudi Arabia plans to reduce Arab heavy crude supply to term customers in Asia next month due to oil field maintenance, according to Reuters sources.
- Saudi Aramco CEO said FY saw lower crude oil prices and lower volumes sold but noted that 2023 saw global oil demand reach record levels despite geopolitical tensions and they expect the global oil market to remain healthy this year, while he considers supply and demand to be in reasonable balance. Saudi Aramco CEO said they are ready and able to react to market opportunities and can increase maximum capacity if needed. Furthermore, they are interested in LNG in the US and are looking at further opportunities to invest in China, as well as see significant growth in oil demand in China and Asia, according to Reuters.
- Qatar set April marine crude OSP at Oman/Dubai + USD 0.25/bbl and land crude OSP at Oman/Dubai + USD 0.05/bbl, according to a pricing document cited by Reuters.
- Click here for more details.
NOTABLE EUROPEAN HEADLINES
- ECB’s Kazimir saw the ECB should wait until June with the first rate cut; rushing a move is not smart or beneficial. Upside risks to inflation are “alive and kicking”. Need more hard evidence and only in June will confidence threshold be reached. Discussions on easing should already start, ECB will use weeks ahead of that. Prefers “smooth and steady” cycle of policy easing.
- UK PM Sunak is reportedly mulling curbs to welfare spending to fund the government’s ambition of further tax reductions, according to The Sunday Times.
- Exit polls suggest Portugal’s centre-right coalition is on course to narrowly defeat the incumbent socialists but fall well short of a majority in Sunday’s closely fought snap general election, according to The Guardian. It was later reported that Portugal’s socialist leader Pedro Nuno Santos conceded defeat and the leader of the centre-right democratic alliance Luis Montenegro claimed victory.
- Polish Central Bank projections: Scenario of extended anti-inflation measures, sees 2024 CPI at 3.0%, 2025 at 3.4% and 2026 at 2.9%; If not extended then sees 2024 CPI at 5.7%, 2025 at 3.5% and 2026 at 2.7%.
- UBS expects the BoE to start cutting rates in August vs May expected earlier.
DATA RECAP
- Norwegian Consumer Price Index MM (Feb) 0.2% vs. Exp. 0.5% (Prev. 0.1%); Core Inflation YY (Feb) 4.9% vs. Exp. 5.3% (Prev. 5.3%); Core Inflation MM (Feb) 0.4% vs. Exp. 0.7%; Consumer Price Index YY (Feb) 4.5% vs. Exp. 4.9% (Prev. 4.7%). Sparked slight upside in EUR/NOK, before eventually paring to pre-release levels.
- Norwegian Producer Price Index YY (Feb) -12.6% (Prev. -12.9%)
- Turkish Unemployment Rate (%) (Jan) 9.10% (Prev. 8.80%); Labor Underutilization rate (Jan) 26.50% (Prev. 24.70%); Labor Force Participation (%) (Jan) 53.90% (Prev. 53.50%)
- Spanish Retail Sales YY (Jan) 0.3% (Prev. 3.1%)
- Czech CPI YY (Feb) 2.0% vs. Exp. 2.2% (Prev. 2.3%); CPI MM (Feb) 0.3% vs. Exp. 0.4% (Prev. 1.5%)
NOTABLE US HEADLINES
- US Senate passed a USD 460bln government funding bill late on Friday which President Biden signed to avert a partial government shutdown and fund some federal agencies through the end of September, according to WSJ.
- EQT (EQT) and Equitrans Midstream (ETRN) midstream to combine in a big natural-gas deal, where EQT will buyback its old unit for approx. USD 5.5bln or USD 12.50/shr, via WSJ
GEOPOLITICS
MIDDLE EAST
- US President Biden said it is always possible that there could be a Gaza ceasefire before Ramadan and he was not giving up, while he said he believes Israeli PM Netanyahu is “hurting Israel more than helping Israel” with his approach to the war against Hamas in Gaza and must pay more attention to the innocent lives being lost. Furthermore, Biden warned that an assault on Rafah is a “red line” but added that he is not going to cut off weapons to Israel and didn’t specify what the “red line” meant, in an MSNBC interview.
- Israeli PM Netanyahu said he intends to push ahead with an invasion of Rafah and insisted his priority is to prevent another terror attack like the October 7th Hamas raid, according to POLITICO.
- Israel conducted a raid targeting agricultural land near the Egyptian-Palestinian border in the Al Salam neighbourhood in Rafah, according to a correspondent cited by Al Jazeera.
- Five civilians were killed and nine were injured in an Israeli strike on a border village in southern Lebanon, according to Reuters.
- US Central Command said US Army vessel General Frank S. Besson departed for the eastern Mediterranean to provide humanitarian aid to Gaza by sea and is carrying the first equipment to establish a temporary pier vital for humanitarian supplies, according to Reuters.
- US Central Command said US Navy vessels and aircraft along with multiple coalition navy ships and aircraft shot down 15 one-way attack UAVs, while it was later reported that the US military downed a total of at least 28 uncrewed aerial vehicles in the Red Sea on Saturday, according to Reuters.
- UK Defence Minister said HMS Richmond shot down two drones on Friday night to repel a Houthi attack, while it was also reported that the French military destroyed four combat drones heading towards the European naval mission in the Gulf of Aden.
- “Israeli reports: Hamas deputy head Marwan Issa killed in shelling of Nuseirat camp”, according to Sky News Arabia.
OTHER
- German Foreign Minister Baerbock is open to a missile swap with the UK to arm Ukraine, according to dpa.
- US and Japan are considering defence cooperation which could help Ukraine with the two sides looking at an arms arrangement ahead of a summit next month, according to Yomiuri.
- Iran, Russia and China are to hold joint naval drills on March 12th, via MEHR.
CRYPTO
- Bitcoin continues to climb with the coin firmly above USD 71k, with Ethereum soaring past 4k.
- LSE says will confirms it will accept applications for the admission of Bitcoin (BTC) and Ethereum (ETH) crypto ETNs in Q2 2024.
- Indian cryptocurrency investment platform Mudrex is now offering US spot-Bitcoin (BTC) exchange-traded funds (ETFs) to Indian investors, according to CoinDesk.
APAC TRADE
- APAC stocks traded with a downbeat mood with most major indices pressured after Friday’s tech-led declines in the US, while participants also digested last week’s hawkish BoJ source reports and Japanese GDP.
- ASX 200 slumped in which the mining and resources industries led the declines across all sectors.
- Nikkei 225 fell beneath the 39,000 level following recent source reports that suggested a potential exit from NIRP this month and after Japan’s revised Q4 GDP data missed expectations but showed the economy averted a technical recession.
- Hang Seng and Shanghai Comp. bucked the trend with the former boosted by tech strength and with Hong Kong’s top market regulator seeking an expansion of the Stock Connect and lower the asset threshold for mainland China investors to CNY 100k. Conversely, the mainland was much less decisive after mixed Chinese inflation data which showed a return to acceleration in consumer prices.
NOTABLE ASIA-PAC HEADLINES
- China’s Housing Minister said they should let some property developers go bankrupt or restructure according to legal and market-based rules, while the official stated that commercial banks have approved over CNY 200bln of loans for housing projects as of February under the coordinated mechanism. The minister said home sales will improve in an orderly and forceful way and China is to improve the supply of government-supported affordable housing, while they will work with the top financial regulator to guide cities to set up the property funding coordination mechanism. Furthermore, it was also stated that the priorities this year are work on construction kick-offs, housing quality and construction security.
- China’s Human Resources Minister said overall employment pressure has not eased and structural problems remain in the jobs market, while the minister added that they are confident they can keep stable employment and that demand for jobs is high in AI and big data sectors, according to Reuters.
- Chinese regulators held meetings with financial firms to discuss China Vanke (2202 HK) debt, while regulators asked large Vanke lenders to enhance financing support and asked private debt holders to discuss maturity extension, according to Reuters sources.
- US President Biden’s administration is weighing sanctions on several tech companies including memory chipmaker ChangXin Memory Technologies, according to Bloomberg.
- Hong Kong’s top market regulator called for an expansion of the Stock Connect and is seeking to lower the asset threshold for mainland China investors to CNY 100k, according to Bloomberg.
- Japan’s Keidanren Chair says they are feeling greater momentum for wage hikes at this year’s spring labour talks vs the prior year. High possibility the BoJ will normalise monetary policy in the near future, do not know if this will occur in March. Likelihood of achieving inflation around 2% is increasing. Prolonged monetary easing as a “shot in the arm” for the economy is not healthy.
- Japanese PM Kishida is to hold a three-way meeting between the government, labour and corporate management on March 13th to strengthen momentum for higher wages.
- BoJ makes no ETF purchases on Monday, “despite morning decline in TOPIX”, Bloomberg says.
- China is said to be studying lower down payment ratio for cars, according to Chinese Premier Li cited by Bloomberg
DATA RECAP
- Chinese CPI MM (Feb) 1.0% vs. Exp. 0.7% (Prev. 0.3%); CPI YY (Feb) 0.7% vs. Exp. 0.3% (Prev. -0.8%); PPI YY (Feb) -2.7% vs. Exp. -2.5% (Prev. -2.5%)
- Japanese GDP Revised QQ (Q4) 0.1% vs. Exp. 0.3% (Prev. -0.1%); GDP Revised Annualised (Q4) 0.4% vs. Exp. 1.1% (Prev. -0.4%)
2C ASIA AFFAIRS
MONDAY MORNING/SUNDAY NIGHT
SHANGHAI CLOSED UP 27.44 PTS OR 0.74% //Hang Seng CLOSED UP 234.18 PTS OR 1.43% / Nikkei CLOSED DOWN 868.65 PTS OR 1.43%//Australia’s all ordinaries CLOSED DOWN 1,78% /Chinese yuan (ONSHORE) closed UP 7.1854 //OFFSHORE CHINESE YUAN CLOSED UP TO 7.1889 /Oil DOWN TO 77.58 dollars per barrel for WTI and BRENT UP AT 81.77/ Stocks in Europe OPENED ALL RED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
2 d./NORTH KOREA/ SOUTH KOREA/
NORTH KOREA/SOUTH KOREA
END
2e) JAPAN
JAPAN
Nikkei Plunges As Yen Soars Ahead Of BOJ Policy Change
MONDAY, MAR 11, 2024 – 10:05 AM
In the past several months, we had been shocked by how much digital ink was spilled to praise Japan’s “stock market revival”, which according to very serious economists was based on strong fundamentals and was justified by the economy (which recently slumped into recession)…
… when in reality the entire move was driven by the relentless collapse and premeditated destruction of Japan’s currency at the hands of the Bank of Japan. So much so that long USDJPY was – together with long Treasuries – the most consensus trade of 2024.
And then overnight we got a reminder of just how little Japanese stock performance is fundamentally driven, and how it is entirely a function of the weak yen, when the latest counter-trend surge in the yen sent the Topix and Nikkei225 both plunging as much as 3%, the biggest drop since October 4, amid growing speculation the Bank of Japan will raise interest rates lifted the yen and hurt exporters, while a report in local press claimed that the BOJ could end Yield Curve Control – which has defined Japan’s bond market for the past decade and kept yields from exploding – as soon as this month.
Automakers and banks were among sectors leading the drop on the Topix which closed 2.2% lower at 2,666.83 in Tokyo, with 31 of 33 sub-sectors dropping, after a powerful buying thrust in the last 30 minutes prevented a LOD close. The exporter-heavy Nikkei 225 declined 2.2% to 38,820.49, leading losses in Asia. Tech shares slumped, following US peers lower, as investors took profit from some of the top performers over the past year.
Automobile companies such as Toyota Motor Corp. contributed the most to the Topix’s decline, decreasing 3.1%. Out of 2,150 stocks in the index, 302 rose and 1,807 fell, while 41 were unchanged. Semiconductor companies including Renesas Electronics Corp. dropped after Nvidia Corp. and other US tech stocks fell amid profit-taking. The Philadelphia Semiconductor index tumbled 4% on Friday.
The catalyst for the drop was the surge in the yen which strengthened as much as 0.4% to 146.54 vs the dollar, putting the trade we suggested to our premium subs one month ago deep in the money.
The surge in the yen quickly freaked out all those who said Japanese stocks were rising purely on fundamentals, because… well, the recent record high had absolutely nothing to do with fundamentals.
“Until we see the results of the BOJ’s policy next week, it will be difficult to buy in the stock market due to concerns about the yen’s strength,” Shoji Hirakawa, strategist at Tokai Tokyo. “There are no signs of a USDJPY rally in the currency markets.”
But… but… what does USDJPY have to do with stock markets? Guess the answer is… everything, just ask the Weimar Republic.
Expectations the BOJ will tweak policy at the March 18-19 meeting were further fueled by a report in local Jiji that the bank is considering scrapping its yield curve control program, and that a rising number of policymakers are leaning toward ending negative rates due to expected larger wage increases this year. Data Monday showing the economy avoided falling into a recession at the end of last year also bolstered the case for the BOJ to raise rates for the first time since 2007.
“Today’s sell-off reflects the realization that after many false dawns, the Bank of Japan’s exit from the Negative Interest Rate Policy is now likely just over one week away,” said Tony Sycamore, a market analyst at IG Australia Pty Ltd. “This means that investment decisions made over many years are hastily being re-evaluated to reflect a reality many were thinking was still months away.”
Guess “investing” is a little bit more difficult when the central bank isn’t doing it for you with endless currency debasement,huh?
The Nikkei recently hit the key 40,000 level for the first time after reclaiming its 1989 peak earlier this year but has since slumped, following the plunge in USDJPY.
The yen edged higher to 146.98 per dollar Monday, after four days of gains. The Nikkei recently hit the key 40,000 level for the first time after reclaiming its 1989 peak earlier this year. Foreign investors had been buying into Japan’s biggest companies on improving shareholder returns and the weak yen.
The yen looks poised to test the 145 level per dollar level and a break of that may prompt a quick move toward 140, said Amir Anvarzadeh, a strategist at Asymmetric Advisors Pte who said that “the market’s reaction to this seems to suggest that a lot has been riding on weak yen to continue to support multinationals rather than bets on changing corporate governance etc. which has been the trigger behind the more positive Japan narrative.”
Just as we have said all along.
Investors will be on the watch for whether the BOJ will buy exchange-traded funds after the Topix fell more than 2%. The last time the central bank purchased ETFs was in October of last year when the index dropped by a similar amount in the morning trading session. That follows an unwritten rule that only a drop of at least 2% in the benchmark gauge in the morning triggers BOJ buying of the funds.
The drop in stocks – and the USDJPY – may now become self-reinforcing because contrary to expectations for the BOJ to step in and save Mrs Watanabe, the Bank of Japan did not buy ETFs during the rout despite the Topix index falling more than 2%, a level widely seen as having been the central bank’s trigger for purchasing the instruments.
Realizing that the yen-devaluation driven party is over, Morgan Stanley strategist Gilbert Wong said that Japan’s momentum trade is at risk of unwinding – because that’s really all it is, one giant momentum trade – and the bank is “closely monitoring” the US unwinding in the last week because “historically US Momentum stocks have been highly correlated with Japan Momentum stocks.”
While Japan’s momentum stocks are still on the rise, with the 6-months rolling factor return approaching extreme territory
MS expects “the seasonality around the Japan dividend ex-date might keep it running into month-end, but the reversal risk in April could be high”, Wong cautioned.
3 CHINA
CHINA/
END
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
SPAIN
end
5. RUSSIA AND MIDDLE EASTERN AFFAIRS.
ISRAEL HAMAS/SATURDAY
Dozens of Hamas terrorists killed in fighting
(times of Israel)
IDF says dozens of Hamas terrorists killed in fighting, airstrikes in past day
IDF troops operate in the Gaza Strip in a photo released on March 9, 2024 (Israel Defense Forces)
The IDF says troops killed dozens of gunmen during operations across the Gaza Strip over the past day, as the Air Force struck targets in central Gaza, from which rockets were fired at Sderot.
In southern Gaza’s Khan Younis, the IDF says the Bislamach Brigade killed more than 20 Hamas operatives, in close-quarters combat and by calling in airstrikes.
In the Hamad Town residential complex in Khan Younis, the Givati Brigade raided several sites belonging to Gaza-based terror groups, where they captured operatives and seized weapons including explosive devices, the IDF says.
The IDF says Givati troops also directed an airstrike against a cell spotted moving toward them in the area.
In central Gaza, the IDF says the Nahal Brigade killed some 10 operatives, including by calling in airstrikes.
In northern Gaza’s Beit Hanoun, the 414th Combat Intelligence Collection Unit spotted several gunmen near troops in the area, and called in an airstrike by a fighter jet, the IDF says.
The IDF also says airstrikes were carried out on several “military positions” in central Gaza, from which rockets were fired at Sderot recently.
END
ISRAEL/HAMAS/FRIDAY
Par for the USA: parachutes failed to open and kills at least 5 Palestinians in Gaza City waiting for those aid supplies
(Middle East Eye)
Faulty US Aid Drop Kills At Least 5 Palestinians In Gaza City
FRIDAY, MAR 08, 2024 – 10:20 PM
At least five Palestinians were killed and one other wounded after a faulty aid drop in Gaza City on Friday. The casualties occurred following a botched attempt to drop humanitarian assistance from a plane, which ended up landing in a residential area in Sheikh Radwan, northwest of Gaza City, according to Al-Jazeera.
Videos captured by local journalists showed over a dozen packages dropped from a plane falling at a great speed near the al-Fayrouz Towers area.
The Palestinian media office in Gaza confirmed that five people had been killed, and criticized the use of air drops to deliver aid. “These operations are useless and not the best way to bring in aid, and we demand the opening of land crossings to bring in thousands of tons of aid immediately and urgently,” it said.
“Dropping aid in this way takes on a showy and propaganda character rather than a humanitarian [one],” the media office added. “We warned previously that they pose a death threat to the lives of citizens in the Gaza Strip, and that is what happened.”
An eyewitness told Al-Jazeera on Friday: “People were waiting for the drops when they noticed they were coming in fast. So a group of people took cover in a construction site.”
“One of the packages fell atop the site, causing it to collapse, killing and wounding people inside. I rushed to help the people inside when I realized my cousin was among them. He is now dead.”
Airdropping aid is used when all other alternatives fail, and when a population desperately needs life-saving aid while it is cut off from the world.
So far, Jordan, Egypt, the United Arab Emirates, and France have coordinated with Israel to airdrop aid in different areas of the blockaded Gaza Strip. The US on Sunday carried out its first humanitarian aid airdrop in Gaza with more than 30,000 meals parachuted in by three military planes. The operation was reportedly carried out jointly with Jordan’s air force.
Watch: some of the crates sound like bombs when they hit the ground at high speed…
https://www.zerohedge.com/geopolitical/faulty-us-aid-drop-kills-least-5-palestinians-gaza-city
Palestinians have said that airdropped aid quantities are too small in comparison to the needs of a starving population in Gaza.
“It is pointless,” Ahmad Mansour, a Palestinian in the south of Gaza, told Middle East Eye earlier this week. “A lot of the aid ended up in the sea or areas controlled by the Israeli army. You have got thousands of people running towards a few parcels of aid. They are playing games with us.”
“I cannot understand why the world cannot pressure Israel to allow humanitarian aid trucks in,” Mansour continued. “Why can humanitarian aid workers not be protected to distribute the aid fairly? Is the new motto: ‘We will eat and get medicine only if we are lucky enough to catch something falling from the sky’?”
end
ISRAEL GAZA/SUNDAY
Hamas toughens demands for a hostage deal as they seem to seek an Ramadan escalation
(Jerusalem Post)
Mossad: Hamas toughening demands for hostage deal, seeks Ramadan escalation
Spy agency says chief met CIA counterpart to advance deal, adds talks persist despite difficulties; Qatar reportedly threatens to expel Hamas leaders if they don’t accept deal
By TOI STAFF
Today, 9:51 pm
A composite image of CIA Director William Burns, left, speaking at the Central Intelligence Agency headquarters in Langley, on July 8, 2022; Mossad Director David Barnea, right, speaking at a conference in Tel Aviv, on September 10, 2023. (AP/Susan Walsh; Avshalom Sassoni/Flash90)
The Mossad spy agency said Saturday that the Hamas terror group prefers an escalation of violence during the Muslim holy month of Ramadan to a hostage deal, adding that Mossad chief David Barnea met CIA Director Bill Burns this weekend as part of efforts by mediators to reach a temporary truce.
In the rare statement, carried by the Prime Minister’s Office, the Mossad said Barnea met on Friday with his American counterpart, “as part of the ceaseless effort to advance another deal for the return of the hostages.” The meeting reportedly took place in Amman, Jordan.
“At this stage, Hamas is fortifying its position as if it is not interested in a deal, and it strives to ignite the region during Ramadan at the expense of the Palestinian population of the Gaza Strip,” the Mossad said.
The Mossad added that “the talks and cooperation with the mediators continue all the time in an attempt to narrow the gaps and advance agreements.”
The statement came as US, Egyptian, and Qatari mediators scrambled to secure a six-week truce in the five-month-old war in Gaza before Ramadan. Those efforts have been ongoing for weeks and are based on a framework reached in Paris last month.
The Paris framework, thus far rejected by Hamas, would see 40 children, women, elderly and sick hostages released in the six-week first phase, in exchange for some 400 Palestinian security prisoners, with the possibility of further releases to be negotiated.
Israel has said any ceasefire must be temporary and that its goal remains the destruction of Hamas and the return of all hostages. The terror group says it will release the hostages it has been holding since October 7 only as part of a deal that ends the war.
Israel did not send a delegation to the latest round of truce talks in Cairo, after Hamas refused to provide a list of living hostages, and a Hamas delegation left on Thursday after expressing frustration with Israel’s positions, heading to Qatar for consultation with the group’s leadership.
People pass by a fence with photographs of Israelis who are being held hostage in the Gaza Strip by the Hamas terrorist group, in Ramat Gan, Israel, March 7, 2024. (AP Photo/Oded Balilty)
An unnamed senior Israeli source close to the negotiations was quoted by Channel 12 on Saturday saying that Hamas’s Gaza leader Yahya Sinwar “believes that the more his [Gaza] public suffers, the greater the pressure on Israel and the better the terms he’ll get in negotiations [on a hostage deal]. A deal takes two sides, and right now the other side doesn’t want one.”
Israel and Hamas have blamed each other for the lack of agreement on a deal that would require Hamas to free some of the hostages it still holds in exchange for a 40-day truce. Some Palestinian security prisoners held in Israel would also be released. Mediators hoped to reach an agreement by the start of Ramadan, set to begin early in the week, but that appears unlikely.
Officials briefed on the talks told the New York Times Thursday that Hamas has “backed away” from the proposed agreement in Paris and, in addition to a permanent ceasefire, is also demanding the withdrawal of Israeli troops from the Gaza Strip, the return of displaced Gazans to their homes in the northern part of the enclave, and “provisions” for Gazans.
Israel had already agreed to the Paris principles, which called for a temporary truce of six weeks, a “redeployment” of Israeli troops within Gaza — but not a complete withdrawal — and for Israel to enable the return of Palestinian women and children to northern Gaza, from where hundreds of thousands evacuated during the fighting, and which Israel has kept cut off from the rest of the enclave.
One regional official told the New York Times that the main sticking point is Hamas’s demand for a permanent ceasefire during or after the three phases of the hostage releases proposed in Paris, which Israel has refused.
Meanwhile, Qatar is threatening to expel Hamas’s leaders from the country if they don’t agree to a hostage deal, The Wall Street Journal reported Saturday, citing an unnamed Hamas official and Egyptian officials. Qatar, a key mediator between Israel and the terror group, hosts Hamas’s political bureau, including its leader, Ismail Haniyeh.
Husam Badran, a senior official of the terror group who is based in Doha, denied the claim. He told the WSJ that without a deal, violence will escalate during Ramadan, set to begin Sunday and Monday in some parts of the world.
“We didn’t declare negotiations have been stopped. We are the party most keen to stop this war,” he said.
Badran stated Hamas’s conditions for a hostage deal include a permanent ceasefire, a return of displaced civilians to northern Gaza, boosted humanitarian aid, and for Israel to pull out its troops from the Strip.
Israel has vowed to continue its offensive to eliminate the terror group in response to the October 7 massacre, and free all the hostages.
Channel 12 reported Saturday that Nissan Alon, the IDF’s representative in the hostage deal negotiations, requested greater leeway in negotiating the terms of a deal, but the request was rejected by the political leadership.
Prime Minister Benjamin Netanyahu, Defense Minister Yoav Gallant, and war cabinet minister Benny Gantz all felt greater flexibility was not appropriate given Hamas’s current obdurate stance, the report said.
File: Hamas political bureau member Husam Badran, center, speaks at the Israel-Gaza border, east of Gaza city on August 3, 2018. (AFP/ MAHMUD HAMS)
Badran told the WSJ that Netanyahu was to blame for a lack of a breakthrough in the talks, claiming he “refuses to deal with anything on the table.”
“Netanyahu is the most dangerous [person] for the stability of this region. He is the fire starter,” he said.
The prime minister has called Hamas’s demands “delusional.”
US Secretary of State Antony Blinken said on Friday it was up to Hamas to agree to the proposed temporary ceasefire that would allow more humanitarian aid into Gaza and pave the way for talks on an “enduring resolution” to the conflict.
Senior Biden administration officials on Thursday also said that it was Hamas holding up the deal, as it was refusing to release the sick, elderly, and female hostages that it’s holding in Gaza.
“There could be at least a six-week ceasefire today if Hamas would agree to release a defined category of vulnerable hostages, including women, the elderly, the sick and the wounded,” said one of the officials, who all briefed reporters on condition of anonymity. “The onus right now is on Hamas.”
“The fundamental element on [Hamas’s] side is releasing the sick, the elderly and the women. That is right now the holdup,” a second official added.
US President Joe Biden and Vice President Kamala Harris both called in separate addresses this past week on Hamas to agree to the deal on the table.
Smoke billows after Israeli bombardment on Khan Younis as seen from Rafah, in the southern Gaza Strip on March 9, 2024. (SAID KHATIB / AFP)
Gaza’s Hamas-run health ministry says at least 30,878 people have been killed in Gaza since October 7, when thousands of Hamas-led terrorists launched a murderous rampage across southern Israel, killing 1,200 people and seizing 253 hostages. Hamas’s figures cannot be verified, do not differentiate between combatants and civilians, and include some 13,000 Hamas terrorists Israel says it has killed in battle since October.
Israel also says it killed some 1,000 gunmen inside Israel on October 7.
It is believed that 130 hostages abducted by Hamas on October 7 remain in Gaza — not all of them alive — after 105 civilians were released from Hamas captivity during a weeklong truce in late November.
Four hostages were released prior to that, and three were rescued by troops. The bodies of eight hostages have also been recovered and three hostages were mistakenly killed by the military. One more person has been listed as missing since October 7, and their fate is still unknown.
END
ISRAEL HAMAS/MONDAY
Looks like the Israelis got no 3 in command Mawan Issa in an IDF strike in Central Gaza
(Jerusalem Post)
Hamas high command number three Marwan Issa possibly killed by IDF strike
Issa was reportedly hiding in Nusirat, in central Gaza, at the time of the strike, and it is unclear whether the Hamas leader was killed in the event.
By SAM HALPERNMARCH 11, 2024 10:20
Updated: MARCH 11, 2024 12:16
Marwan Issa, deputy to Mohammed Deif and number three of Hamas’s high command, was targeted by an Israeli airstrike on Saturday.
The IDF cleared the event for publication on Monday morning.
Issa was reportedly hiding in Nusirat, in central Gaza, at the time of the strike, and it is unclear whether the Hamas leader was killed in the event.
Maariv, citing Palestinian sources, reported that Hamas was concerned about the status of the terror chief.
15 terrorists killed in central Gaza
Separately, in central Gaza, the IDF eliminated 15 terrorists through close-quarters engagements, sniper fire, and airstrikes, the IDF stated on Monday.
In one encounter, Israeli troops identified a terror cell carrying what were suspected to be weapons out of a Hamas military compound in the area.https://player.jpost.com/public/player.html?player=jpost&media=3680079&url=www.jpost.com
IDF strikes, March 11, 2024. (credit: IDF Spokesperson Unit)
After observing the subsequent activities of the cell, the terror cell was eliminated by a strike from an IDF aircraft, the military noted.
The IDF similarly eliminated another terror cell that was observing the Israeli troops in the area.
https://player.jpost.com/public/player.html?player=jpost&media=3680080&url=www.jpost.comIDF activities in the Gaza Strip, March 11, 2024. (credit: IDF Spokesperson’s Unit)
The Israeli forces also operated in the area of Hamad in southern Gaza, where special forces units conducted raids on a number of civilian residences that were being used for terror purposes, the IDF reported.
During these raids, the IDF troops arrested Hamas terrorists and found weapons, ammunition, and other military ordnance. In one operation, an anti-tank missile was launched at the soldiers. However, no injuries among IDF personnel were reported as a consequence.
Later, Israeli troops identified, engaged, and killed a terrorist in close-quarters combat after he moved out of an area from which the anti-tank missile had been fired.
Off the coast of the northern portion of the Strip, Israeli naval forces also engaged terrorist operatives by targeting a vessel used by the Gaza terror organizations.
This is a developing story.
END
Israel, Hamas both said probing fate of terror group’s No. 3, targeted in airstrike
Marwan Issa was reportedly hiding in Nuseirat refugee camp in central Gaza; IDF pressing raid in Khan Younis’s Hamad Town; US officials say Rafah op not on horizon
By EMANUEL FABIAN FOLLOW
and AGENCIESToday, 3:11 pm
Marwan Issa, the deputy head of Hamas’s military wing, circled in a photo circulated on social media in 2015. The photo or its source could not be immediately verified.
The Israeli military and Hamas are trying to determine if Marwan Issa, the deputy head of the terror group’s military wing, was killed in a recent airstrike in the central Gaza Strip, Hebrew media reported Monday.
According to reports by several outlets, Issa was hiding in the Nuseirat refugee camp. Overnight between Saturday and Sunday, the IDF carried out an airstrike on a building where he was believed to be.
Reports said five Palestinians were killed in the strike, although it is unknown if Issa is among them.
According to the reports, both the IDF and Hamas were trying to ascertain if Issa was among the dead.
Issa is considered the number three in the terror organization in Gaza and serves as the deputy of Mohammed Deif, the head of Hamas’s military wing, the Izz ad-Din al-Qassam Brigades. Together with Hamas’s leader in Gaza, Yahya Sinwar, they are believed to have masterminded the group’s October 7 massacre in southern Israel that triggered the war.
Meanwhile, the Israel Defense Forces said the Nahal Brigade killed some 15 gunmen in the central Gaza Strip over the past day, with sniper fire, close-quarters combat, and by calling in airstrikes.
Also over the past day, the Commando Brigade continued its raid on the Hamad Town residential complex in southern Gaza’s Khan Younis.
The IDF said the commandos raided apartments used by Hamas, captured operatives, and seized weapons.
Troops of the Givati Brigade came under anti-tank missile fire amid operations in Hamad. The IDF said the soldiers spotted and tracked the operative behind the attack, and he was killed by Maglan commandos.
Additionally, the IDF said troops of the 7th Armored Brigade located Hamas tunnels in Hamad.
It said one of the tunnel shafts led to an underground route where food and weapons were found.
Another tunnel shaft contained weapons manufacturing equipment and concrete production machinery used by Hamas to build tunnels, the IDF said.
A tunnel found during a raid on Khan Younis’s Hamad Town, in the southern Gaza Strip, in a handout image published on March 11, 2024. (Israel Defense Forces)
The IDF stated the tunnels were destroyed in an airstrike.
The IDF said the brigade raided several more Hamas sites in the Hamad area, seizing sniper rifles, explosive devices, military equipment, and intelligence documents.
Alongside the Military Intelligence Directorate’s Unit 504 and Shin Bet, dozens of terror operatives attempting to flee while civilians evacuated from the Hamad area have been captured by troops, and hundreds more suspects have been taken for questioning, the IDF added.
Elsewhere in Khan Younis, in the suburb of al-Qarara, the Bislamach Brigade killed several Hamas operatives with sniper fire and by calling in airstrikes and tank shelling, the IDF said
In northern Gaza, the IDF said, the Navy directed an attack helicopter to strike a vessel used by a Gaza-based terror group.
Troops of the 7th Armored Brigade operate in the Hamad Town residential complex in Khan Younis, in a handout image published March 11, 2024. (Israel Defense Forces)
Ramadan
As the Muslim world welcomed Ramadan with the customary daytime fast, many Gazans awoke to renewed airstrikes and fighting.
“The start of Ramadan has been sad and covered in darkness, with the taste and stench of blood everywhere,” said one displaced Palestinian man, Awni al-Kayyal, 50.
“The (Israeli) occupation does not want us to have any joy during Ramadan. We do not have any food for our iftar table,” he said, referring to the fast-breaking evening meal.
“You don’t see anyone with joy in their eyes,” said Sabah al-Hendi, who was shopping for food on Sunday in the southernmost city of Rafah. “Every family is sad. Every family has a martyr.”
Palestinians buy food for a pre-dawn meal before fasting during the Muslim holy month of Ramadan in Rafah, Gaza Strip, March 10, 2024. (AP Photo/Fatima Shbair)
In a message to mark the Muslim holy month of Ramadan, Defense Minister Yoav Gallant warned Israel’s enemies that the country was ready for any threat.
“The month of Ramadan is an important month in which the Quran was revealed and in which there is an opportunity to improve neighborly relations and strengthen family ties,” Gallant said in a statement.
“We are aware that the month of Ramadan may be a month of jihad. We tell everyone who is thinking of trying us – we are ready, don’t make mistakes,” he said.
Gallant added a traditional greeting for the holy month, and declared that Israel “respects freedom of worship at Al-Aqsa and all the holy places.”
UN and aid groups say only a fraction of the supplies needed for Gaza’s 2.4 million people have been allowed in since Israel placed it under near-total siege since the beginning of the war. Israel says it does not restrict humanitarian or medical aid and has blamed the lack of deliveries on the capacity of aid agencies, repeatedly saying that it is approving more aid trucks for crossing than the agencies are able to deliver. It also accuses Hamas of commandeering some aid deliveries.
A Cyprus government spokesman said a Spanish charity ship with food aid was set to sail from the island to the coastal Gaza Strip, where the UN has repeatedly warned of famine.
The Open Arms group said its boat would tow a barge with 200 tons of food, which its partner the US charity World Central Kitchen would later unload on Gaza’s shores.
Multiple countries airdropped aid into northern Gaza on Sunday, but the United Nations aid coordinator for the area has said boosting supply by land would be far more effective.
Some of the food packages smashed open on impact, leaving residents picking through the dirt to salvage what they could, AFPTV images showed.
The United States, Qatar, and Egypt had hoped to broker a ceasefire ahead of the normally joyous month of dawn-to-dusk fasting that would include the release of dozens of Israeli hostages and Palestinian prisoners, and the entry of a large amount of humanitarian aid, but the talks stalled last week.
The Open Arms vessel (C), carrying two-hundred tonnes of food aid to Gaza Strip, is seen docked in the Cypriot port of Larnaca on March 11, 2024. (Iakovos Hatzistavrou / AFP)
Hamas is demanding guarantees that any such agreement will lead to an end to the war, while Prime Minister Benjamin Netanyahu has vowed to continue the offensive until “total victory” against the terror group and the release of all the remaining hostages.
A source with knowledge of the ceasefire talks told AFP “there will be a diplomatic push, especially in the next 10 days” to secure a deal within the first half of Ramadan.
Two US officials told CNN that the Biden administration is not expecting Israel to expand the Gaza ground operation to Rafah in the near future.
Israel has vowed to move into Rafah, Hamas’s last stronghold. It believes that some of the hostages and Hamas leaders are in Rafah. Earlier this month, special forces rescued two Israeli hostages from captivity in an apartment in the city.
However, in a hard-hitting interview published by MSNBC Saturday, US President Joe Biden highlighted deep US concerns over civilian deaths in Gaza and called the planned IDF operation in southern Gaza’s Rafah a “red line.”
War erupted when thousands of Hamas-led terrorists burst into Israel by air, land and sea, killing close to 1,200 people and kidnapping another 253 to Gaza, where more than 100 are still held hostage.
Vowing to destroy Hamas, Israel responded with a wide-scale ground and air campaign that the health ministry in Hamas-run Gaza said has now killed more than 31,000 people. These figures cannot be independently verified, and are believed to include both civilians and Hamas members killed in Gaza, including as a consequence of terror groups’ own rocket misfires. The IDF says it has killed over 13,000 terror operatives in Gaza since the war started, in addition to some 1,000 terrorists inside Israel on October 7.
The war has driven around 80% of Gaza’s population of 2.3 million people from their homes and pushed hundreds of thousands to the brink of famine. Health officials say at least 20 people, mostly children, have died from malnutrition and dehydration in northern Gaza — figures that cannot be independently verified.
END
ISRAEL GAZA/HAMAD TOWN/MONDAY
IDF says dozens of Hamas gunmen killed as troops move through Hamad complex
By EMANUEL FABIAN FOLLOW
Today, 5:27 pm
The Egoz commando unit is continuing to search for fighters and weapons at the Hamad Town residential complex in southern Gaza’s Khan Younis, where the IDF says troops have killed dozens of Hamas gunmen recently.
The IDF says the commandos have captured several more Hamas operatives who surrendered to troops.
In one engagement, the IDF says, soldiers came under fire while searching a building. The troops deployed a drone to locate the gunman and launched a shoulder-fired missile at an apartment where the gunman was hiding, killing him. The army publishes graphic footage showing the engagement.
The incident occurred while a mother and two children were in an adjacent room, the IDF says. They were extracted from the building and treated by army medics.
Two more gunmen were killed and another was captured in the incident.
Troops have been methodically fighting through the expansive Qatar-funded residential complex since March 3
Interesting; Biden is worried about Palestinian lives but not Ukrainian lives?
(Jerusalem Post)
Biden Issues ‘Red Line’ For Israel Over Rafah, But Won’t Do Anything About It
BY TYLER DURDEN
MONDAY, MAR 11, 2024 – 02:45 AM
The Muslim fasting period of Ramadan has begun, and the feared large-scale Israeli ground offensive on Rafah has yet to begin, though many believe it is imminent after Israeli leaders previously signaled it’s expected to start by March 10.
President Biden on Saturday issued a ‘red line’ for the first time over Rafah, warning Israel against attacking the southern enclave which is now packed with over one million internally displaced refugees. Washington has repeatedly called on Israel to facilitate a mass exodus of civilians before any assault takes place, however, there’s clearly the practical issue (and perhaps impossibility) of where hundreds of thousands of refugees would go. They are blocked by the Sinai (Egyptian) border to the south.
“[We] cannot have another 30,000 more Palestinians dead,” Biden told MSNBC in a fresh interview. He was then asked whether Rafah is a red line for him and he responded: “It is a red line.”
Biden then explained that Israeli Prime Minister Benjamin Netanyahu is “hurting Israel more than helping Israel” in the way the war against Hamas is being executed. The president that said Netanyahu “must pay more attention to the innocent lives being lost as a consequence of the actions taken.”
Biden said that the soaring death toll – which Gaza sources say has surpassed 30,000 – “is contrary to what Israel stands for. And I think it’s a big mistake.”
But Biden stopped short of saying he would cut off weapons and ammunition supplies to Israel, which remain vital in its war against Hamas. Some pundits have said the Israel Defense Forces could not possibly sustain the war for very long without American-supplied weapons. Still, Biden administration sources have lately spoken of rising anger and frustration at the White House with Israeli leadership.
Thus Biden drew his ‘red line’ and seems unprepared to do anything about it if that line is crossed. This also means Biden just set himself up for more political embarrassment on the Gaza issue, after he’s already facing growing criticisms from progressives and his own base for hypocrisy and double-speak in the face of horrific civilian atrocities.
Politico noted that during the MSNBC interview, Biden still pledged unwavering support to America’s closest regional ally:
Even as Biden warned Israel’s government against further targeting of the civilian population in Gaza, he reiterated his general support. “I’m never going to leave Israel,” said the U.S. president. “The defense of Israel is still critical.”
These latest words from Biden follow on the heels of his being caught on a hot mic just after Thursday’s evening’s State of the Union address wherein he said he’s going to have a “come to Jesus” conversation with Netanyahu.
According to a review of the significance of that moment and what it means for the November election…
Weeks before “uncommitted” voters sent a message to Joe Biden that he needs to bring an end to Israel’s war in Gaza or risk losing reelection, the president had evidently decided — to borrow another American neologism — to consciously uncouple from Benjamin Netanyahu, Israel’s recalcitrant prime minister.
In the past month, he has, through a series of relatively quiet but closely linked and deliberate moves, sought to marginalize Bibi, as Netanyahu is ubiquitously known, internationally and at home. The change spilled out publicly on Thursday night following the State of the Union address, when Biden announced he ordered the U.S. military to bring humanitarian aid to Gaza via a sea pier. After the speech, Biden was stopped by Senator Michael Bennet of Colorado, who told him to “keep pushing” Israel’s leader. Smiling, Biden said, “I told him, ‘Bibi,’— don’t repeat this— ‘you & I are going to have a come to Jesus moment.” Hidden behind Secretary of State Antony Blinken, a presidential aide whispered, “Sir, you’re on a hot mic,” to which a buoyant Biden replied, “I’m on a hot mic here. Good. That’s good.”
And there was also this from Vice President Kamala Harris:
In the event the new American position over Netanyahu remained unclear, Vice President Kamala Harris left no doubts in a Friday interview with CBS News, which asked “are the Israelis at risk of losing U.S. aid if this continues?” Harris replied: “I think it’s important for us to distinguish or at least not conflate the Israeli government with the Israeli people.”
NYMag’s The Intelligencer, concluded of the meaning, “In other words: Israelis, we’re with you. Netanyahu, be gone.“
Below: Progressive & independent journalists were quick to point out contradictions inherent in Biden’s new red line…
·
78K Views
However, Netanyahu has survived this long, and Washington increasingly has limited options for effecting change in Israel’s government, also at a sensitive moment Biden needs Tel Aviv’s cooperation in setting up the humanitarian aid port and Army-engineered pier on Gaza’s coast. The US is expecting Israeli forces to provide security for the risky initiative.
end
NETANYAHU’S RESPONSE:
Defiant Netanyahu Vows To Cross Biden’s Rafah ‘Red Line’: “We Are Not Getting Off The Gas”
MONDAY, MAR 11, 2024 – 01:20 PM
Israeli Prime Minister Benjamin Netanyahu hit back at Biden after the US president issued a “red line” warning against a military ground attack on the refugee-packed city of Rafah in Gaza’s south.
Starting Sunday Netanyahu responded by vowing to press forward with the planned offensive on Rafah, believed to be imminent, when asked about the Biden red line statement. “We’ll go there. We’re not going to leave them. You know, I have a red line. You know what the red line is? That October 7 doesn’t happen again. Never happens again.”
Biden had told MSNBC on Saturday that an attack on Rafah is a red line for the administration, but as we underscored earlier he didn’t attach any potential consequences to such an action. “But there’s red lines that if he crosses them — you cannot have 30,000 more Palestinians dead as a consequence of going after” Hamas, Biden said. “There’s other ways to deal with, to get to, to deal with the trauma caused by Hamas.”
Biden then asserted that Israeli Prime Minister Benjamin Netanyahu is “hurting Israel more than helping Israel” in the way the war against Hamas is being executed.
Netanyahu in response to this told Politico, “I don’t know exactly what the president meant.” The Israeli leader hit back as follows: “But if he meant by that, that I’m pursuing private policies against the wishes of the majority of Israelis and that this is hurting the interests of Israel, then he’s wrong on both counts.”
And in a Monday interview with Fox News, Netanyahu went so far as to suggest that Biden’s words are harming the counter-terror mission by presenting a disunified front on what are supposed to be common Washington-Israel aims.
“To the extent that Hamas believes that there’s daylight between us, that doesn’t help,” said Netanyahu. However, he pointed out that unity and agreement in terms of objectives “helps the war effort, and it helps our efforts to achieve victory and obviously the release of the hostages.”
He also addressed the question of a post-war two state solution being pushed by the Biden administration. “You don’t have an issue with me. You have an issue with the entire people of Israel,” he claimed. “They’re really united as never before, united to destroy Hamas, and ensure that we don’t have another Palestinian terror state like the one that we had in Gaza that could threaten the State of Israel.”
Also in this latest Monday Fox interview Netanyahu reaffirmed he is not wavering from sending his forces into Rafah:
“The president and I have agreed that we have to destroy Hamas. We can’t leave a quarter of the Hamas terror army in place there in Rafah,” he says. “We have agreements on the basic goals, but we also have disagreements. Ultimately, it’s Israel that has to decide.”
Hitting back at Biden’s comment that going into Rafah is a “red line” for him, Netanyahu says leaving Hamas forces there intact is “a red line. We can’t let Hamas survive.”
“We are not getting off the gas” in the war on Hamas, Netanyahu insists.
Biden gave Israel five months of unprecedented support and Netanyahu, predictably, still spent a whole interview heaping contempt on him. The “bear hug” strategy was doomed from the start, as anyone who knows Netanyahu could have told you in October
Netanyahu vows to defy Biden’s ‘red line’ and invade Rafah
·
138K Views
Crucially, in Biden’s initial Saturday red line comments, he stopped short of saying he would cut off weapons and ammunition supplies to Israel, which remain vital in its war against Hamas.
Some pundits have said the Israel Defense Forces could not possibly sustain the war for very long without American-supplied weapons. Still, Biden administration sources have lately spoken of rising anger and frustration at the White House with Israeli leadership. Ceasefire talks still don’t seem to be going well, but Netanyahu has said he will greenlight a Rafah offensive to root out Hamas leadership even if a deal is reached.
WESTBANK
(JERUSALEM POST/SUNDAY)
Plot foiled
Shin Bet, Police uncover developing Hamas-linked terrorist group in northern Israel
Police, Shin Bet: 13 Arab Israelis charged with planning terror attacks for Hamas
Some of the suspects were also found to have participated in riots during Operation Guardian of the Walls in May 2021.
By TZVI JOFFRE
MARCH 10, 2024 16:22
The Shin Bet and Israel Police uncovered a terrorist group based in northern Israel that was working with Hamas to carry out terrorist attacks in Israel, the two agencies announced in a joint statement on Sunday.
In the past few months, security forces have arrested 13 suspects—most of whom lived in Sakhnin—involved in organizing the group. Some of the suspects were named as Akram Halaila, Muhammad Musa Abu Salah, Ali Halaila, and Muhammad Suhana Muhammad Ayyoush.
Additionally, security forces arrested a resident of the West Bank, Suhaib Jalboush, for selling weapons to the terrorist group. Four firearms, ammunition, and vests intended for terrorist attacks were seized from the suspects.
After questioning the suspects, the Shin Bet and Police found that Muhammad Haled and Muhammad Yusuf recruited the other members of the terrorist group from within Sakhnin. The group purchased weapons from sources in the West Bank in an attempt to organize terrorist attacks.
One of the suspects, Muhammad Khaled Halaila, was in contact with Hamas members in the Gaza Strip, who provided him with instructions on how to prepare explosive devices and directed him to recruit more people to conduct terrorist attacks.
https://player.jpost.com/public/player.html?player=jpost&media=3679640&url=www.jpost.comFirearms belonging to a terrorist group discovered in the Sakhnin area. (Credit: Israel Police)
Suspects also took part in May 2021 riots
Some of the suspects were also found to have participated in throwing Molotov cocktails at the town of Eshbal, near Sakhnin, during Operation Guardian of the Walls in May 2021.
On Sunday morning, the Haifa District Attorney’s office filed charges against the 13 suspects and requested that their arrest be extended until the end of the proceedings.
“This is a serious operation against [national] security [organized by] Israeli citizens who hatched a terrorist plan with the involvement of the Hamas terrorist organization in the Gaza Strip in a way that also has the potential to harm the normative majority in Arab society,” said the Shin Bet and Israel Police.
“The Shin Bet and Israel Police will continue their operations to thwart terrorism and to locate assailants who take part in activities that endanger national security, including those who took part in terrorist activities during the Guardians of the Walls riots.”
The commander of the Central Unit in the Northern District of Israel Police, Eyal Harari, noted that the number of such incidents is “only increasing,” adding that “everything is happening with the contribution and encouragement of Hamas, Hezbollah, and other terrorist organizations, even Iran is contributing.”
According to Harari, the investigation began in late January and took 48 days to complete. The police have been dealing with several such cases, including one case in which an Israeli Arab terrorist planned to attack a refinery in Haifa.
“I would like to say that those Israeli Arabs against whom indictments are filed are a handful of terrorists who are incited and coordinated by terrorist organizations, but it is important to emphasize that they do not represent the entirety of the Israeli Arabs who are part of the melting pot in the State of Israel and who have proven their loyalty within the State of Israel,” stressed Harari.
Latest incident of Hamas-linked terrorists within Israel
The discovery of the group is the latest in a series of terrorism cases in Israeli territory linked to Hamas.
In February, a teacher from northern Israel was arrested after providing Hamas with the location of a defense industry plant in the north to help Hamas fire rockets toward the plant.
The suspect was identified as Rami Habibullah, a resident of Ein Mahil, a town near Nazareth. The Shin Bet and police found that, in light of the conflict in Gaza, Habibullah decided to contact Hamas operatives abroad and offer to help promote terrorist activities in Israel.
The northern resident also worked to recruit other Israeli Arabs to help in promoting terrorist activity within Israel, including Khaled Saleh, a 35-year-old resident of Ein Mahil. Saleh was also arrested and during questioning it emerged that Saleh had agreed to carry out terrorist activities together with Habibullah and had even offered to provide weapons for such operations.
On Friday, a Bedouin Israeli from El-A’sam, located southeast of Beersheba, was indicted on charges that he crossed into Gaza and joined Hamas in 2016, providing the terrorist organization with information about the locations of IDF bases and training with the Nukhba forces, one of the main Hamas forces that conducted the October 7 massacre.
Last May, an Israeli Arab from Umm el-Fahm was arrested by the Shin Bet and Israel Police after he was recruited by Hamas to conduct a bombing attack on a bus in the Hadera area.
The suspect, identified as Muhammad Nadir Mahajna, began to draw close to the ideology of the Muslim Brotherhood and decided to carry out a terrorist attack.
In January 2023, two Israeli citizens from Mu’awiya in northern Israel were arrested after being recruited by Hamas to carry out bombing attacks in the Jewish state.
In October 2022, three Israeli citizens from northern Israel were indicted for helping build a cyber threat against communications infrastructure used by the IDF and for providing sensitive information to the Hamas terrorist movement in Turkey.
The main suspect in the case, identified as R.A., worked as a software engineer at Cellcom, which provides services to the IDF and police. The suspect had broad access privileges to the company’s computer and information systems.
END
HOUTHIS/WEST
French military says it destroyed four combat drones in Gulf of Aden
By REUTERS
Today, 1:18 pm
A French warship and fighter jets destroyed four combat drones that were heading towards a European naval mission in the Gulf of Aden, the French military says.
“This defensive action directly contributed to the protection of the cargo ship True Confidence, under the Barbados flag, which was struck on March 6 and is being towed, as well as other commercial vessels transiting in the area,” the army says in a statement.
END
HOUTHIS/WEST
Houthis say they targeted bulk carrier, number of US war destroyers in Red Sea
Early on Saturday, US Navy ships and aircraft shot down 15 uncrewed aerial vehicles (UAVs) by Yemen’s Houthis in the Red Sea area, US Central Command (CENTCOM) said.
By REUTERSMARCH 9, 2024 09:51Updated:
MARCH 9, 2024 10:48
Yemen’s Iran-aligned Houthis targeted bulk carrier Propel Fortune in the Gulf of Aden, the group’s military spokesman Yahya Sarea said in a televised speech early on Saturday.
The Houthis have been attacking ships in the Red Sea since November in what they say is a campaign of solidarity with Palestinians during the war in Gaza.
Sarea also said on Saturday they targeted “a number” of US war destroyers at the Red Sea and Gulf of Aden with 37 drones.”
US actions against Houthis
Early on Saturday, US Navy ships and aircraft shot down 15 uncrewed aerial vehicles (UAVs) by Yemen’s Houthis in the Red Sea area, US Central Command (CENTCOM) said.
The military was responding to a large-scale attack by the Houthis launched into the Red Sea and Gulf of Aden between 4 a.m. and 6:30 a.m (1300-1530 GMT), CENTCOM said in a post on social media platform X.
The UAVs were determined to present “an imminent threat to merchant vessels, US Navy, and coalition ships in the region,” it said.
State Department spokesperson Matthew Miller said on Wednesday the United States will continue to hold Yemen’s Houthis accountable for attacks on international shipping.
Sarea said they would continue their attacks “until the aggression stops and the siege on the Palestinian people in the Gaza Strip is lifted.”
/RUSSIA/UKRAINE/EUROPE/USA
ROBERT H.
F-35A Becomes First Certified 5th-Gen Fighter To Carry Thermonuclear Gravity Bombs | ZeroHedge
And you wonder why the S500 is deployed? Every thing that flies is toast.
Meanwhile American troops are being deploying to Ukraine for the spring campaign. Black American troops have been training in Poland for a long time. This a fools errand to think this will stop Russia or that they will stop what has been started. And those fools joining Ukraine for this campaign should be prepared to die there.
Europe should be cautious about involvement because this is not a European war but a proxy war between America and Russia. And should Poland really go into Ukraine to occupy former Polish lands this will not go over well nor will Poland find prosperity.
I have warned many a time that the DC crowd will sacrifice Europe if needed without a blink of an eye.
Putin is not a well person. However he is a moderate compared to what will follow. Putin is much more soft on Ukraine than the hard liners are pressing for. Putin may be forced to hold a line with an American driven campaign. Even the Russian population is getting more vocal about how soft Russia has been incurring needless loss and the need to get real and send a clear message.
Whatever happens this spring will see change and carnage in a more intense conflict.
end
6.Global Issues//COVID ISSUES
COVID ISSUES/VACCINE ISSUES//DRUG ISSUES
GLOBAL ISSUES
MARK CRISPIN MILLER
Taylor Swift “appears sick during Singapore show”; Fox News’ Ashley Pupa has appendix cancer; Pete Sampras’ wife has ovarian cancer; Loretta Lynn’s daughter has recurrent mouth cancer
“Julie Chrisley ‘fell apart’ after recent blood test showed ‘sign of a tumor'”; “Bachelor Joey Graziadei reveals he’s been battling ‘liver disease'”; NYTimes/NPR’s Will Shortz has a stroke; & more
| MARK CRISPIN MILLERMAR 9 |
UNITED STATES
Taylor Swift fans concerned after pop star appears sick during Singapore show: ‘Fighting for her life’
March 5, 2024
Swifties were left concerned for Taylor Swift’s health after the pop star appeared to be sick during her Eras Tour concert in Singapore on Monday night.
News from Underground by Mark Crispin Miller is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Swift, 34, was seen coughing and clearing her throat as she performed her song “Delicate” for the crowd in a video circulating on TikTok.
“Hope she’s ok fr [for real],” one person commented on the viral clip.
40-year-old Fox News journalist diagnosed with turbo cancer after covid shot
March 7, 2024
Fox News journalist Ashley Papa has been diagnosed with stage 4 appendix turbo cancer after being pressured to take Covid mRNA shots under the network’s vaccine mandate. The young mother of one revealed that this is the second “rare” disorder she has been diagnosed with over the past two years. “I was sworn in as an official member of a club I never wanted to join,” Papa said in a heartbreaking op-ed for Fox. Papa’s cancer diagnosis came just two years after she was diagnosed with Lymphangioleiomyomatosis (LAM) in late 2021 and faced a complete lung collapse. The “fully vaccinated” reporter says her ordeal began with what she assumed were diet-induced abdominal pains. As a journalist, she was trained to question and seek the truth, yet it took her discomfort to push her towards a medical consultation. Upon her doctor’s advice, a CT scan was performed, which led to a referral to a gynecological oncologist. What followed was a month filled with tests and surgeries, culminating in a diagnosis that she was suffering from turbo cancer. The doctors revealed that Papa had acquired metastatic appendiceal cancer.
‘It’s hard to watch’ – Tennis great Pete Sampras’ wrenching journey supporting wife Bridgette, 50, through ovarian cancer battle
March 6, 2024
The lives of retired tennis star Pete Sampras, 52, and his wife, Bridgette Wilson-Sampras, 50, have been on a hugely difficult journey for the last several months following Bridgette’s cancer diagnosis. Last year, they revealed she was diagnosed with ovarian cancer in December 2022, and it’s been a “challenging time” for the entire family ever since. “As most have come to know, I am a pretty quiet and private person. However, this past year has been an exceptionally challenging time for my family,” Pete Sampras said in a statement on the social media platform X. Although his wife’s cancer diagnosis has taken its toll on the family, the couple finds strength in their children. Following Bridgette’s diagnosis, “she has had major surgery, pushed through chemotherapy, and continues with targeted maintenance therapy. It is hard to watch someone you love go through a challenge like this,” Pete added.
Loretta Lynn’s daughter restarts battle with cancer after recurrence
March 3, 2024
Loretta Lynn’s daughter is facing cancer for the second time. In the span of three weeks in February, Clara Marie “Cissie” Lynn had to undergo critical surgery due to the recurrence of the cancer in her mouth. She confirmed the health setback in several social media posts in which she also asked for everyone’s prayers. In a Facebook post, Cissie expressed her gratitude to everyone who showed love and support to her as she bravely faced the health issue. She reportedly received the latest procedure at Vanderbilt University Medical Center in Nashville, Tenn., on February 13. The 71-year-old previously confirmed in a previous Facebook post that her cancer returned after 10 years, saying it was worse than the one she had when she was younger. Upon learning her diagnosis, Cissie admitted to feeling scared and emotional, especially since her mom was no longer there for her.
Julie Chrisley ‘fell apart’ after recent blood test showed ‘sign of a tumor’ — read the heartbreaking letter from prison
March 6, 2024
Julie Chrisley’s prison sentence just became the least of her problems, as the reality star recently learned her cancer may have returned. The imprisoned fraudster’s daughter Savannah Chrisley shared the unsettling news with fans during the Tuesday, March 5, episode of her “Unlocked” podcast. Julie informed Savannah of a recent visit she had with a doctor behind bars via a written letter sent to her daughter, who has been sharing the messages she receives with her podcast listeners. “I sat down with the doctor and she proceeds to tell me that my HCG level was high, 10.2. This is a pregnancy hormone, it should not be that high. If it were a little higher, I would test positive on a pregnancy test. Since that’s not a possibility, it could be a sign of a tumor,” Julie explained in her journal entry, which dated back to last month.
No age reported.
Bachelor Joey Graziadei reveals he’s been battling ‘liver disease’ after fans call out concerning detail about his eyes
March 1, 2024
Over the last few weeks, while watching the reality show, fans called out the major detail on social media – urging Joey, 28, to go to the doctor. One fan wrote on X, formerly Twitter, “I would like Joey to get his liver values checked. His eyes look yellow and I’m concerned.” A second questioned, “I saw the comments about Joey’s eyes and now I can’t unsee it. Why are they yellow??” “Joey needs to see a doctor ASAP!! The eyes are yellow dude! Time for a doctors visit,” a third exclaimed. Due to the concern, Joey shared a minute-long video on TikTok explaining everything. “I went to other doctors and they found out that there was nothing necessarily wrong like hepatitis but they diagnosed me with something called Joubert syndrome, it looks like Gilbert syndrome.” The reality star went on to say that he is healthy, but the disease still affects the whites of his eyes. He continued, “It makes it have those jaundice levels, which is why they look a little bit more yellow. It’s something I want to pay more attention to this year.”
Will Shortz, New York Times crossword editor and NPR ‘puzzlemaster,’ recovering from stroke
March 4, 2024
Will Shortz, the longtime crossword puzzle editor of the New York Times and NPR’s “puzzlemaster” for more than three decades, had a stroke last month and has spent the last several weeks in rehabilitation. Shortz revealed the health condition in a recorded message aired on NPR’s “Weekend Edition Sunday” on March 3. He has been absent from the show in recent weeks, and at the end today’s puzzle segment, “Weekend Edition Sunday” host Ayesha Rascoe shared an audio clip from Shortz to let fans know the situation. Shortz, 71, has appeared on NPR’s “Weekend Edition Sunday” since the program’s debut in 1987. He has served as crossword editor of the Times since 1993 — only the fourth person to hold the title in the paper’s history. Shortz also is the former editor of Games magazine and founded and has served as director of the American Crossword Puzzle Tournament since 1978 (a focus of the 2006 documentary “Wordplay”).
The rebound of the year: South Central’s Madison Fleming returns to court less than a year after cancer diagnosis
March 5, 2024
Winterville, NC – South Central senior Madison Fleming won’t forget the date — June 21, 2023. That was the day she was diagnosed with acute myeloid leukemia. Fleming — who said she’s “never broken a bone or been stung by an insect” — was used to bringing energy to practice and doing the “dirty work” in the post. But now she couldn’t. “I just couldn’t do the same things I was doing. When you have a coach like Coach Duck, you don’t want to disappoint him because he expects a lot of his players, but I felt like such a disappointment,” Fleming said. “My mom was like ‘Let’s go get checked out’ and it was not what I would’ve expected.” Undergoing chemotherapy, Fleming lost muscle mass and hair. She mostly takes classes at Pitt Community College online, but even virtually she had to drop one. There were days when the “chemo brain” made her unable to focus. In December, however, her doctors gave an unbelievably good report — the cancer was already in remission. She would need to build up her strength, but there was a shot she might have not played her last game at all. She left the hospital on Jan. 5. This was the biggest rebound of her life. In the intensive care unit, she had met people who had checked in before her and still had long roads to go. She lost half of her senior year, and most of her senior season. But she’s grateful.
No age reported.
DR PAUL ALEXANDER
COVID was MURDER in the first, the fake non-pandemic, the PCR-manufactured ‘false positive’ asymptomatic lie of transmission non-pandemic, was MURDER & the lockdowns, the mRNA technology vaccine
all of it, all of COVID was a lie, nothing was true, nothing we were told! Malone and Weissman and Bourla knew it could not work, the mRNA technology could not, yet they MURDERED people
| DR. PAUL ALEXANDERMAR 10 |
it is not even about doing the right safety tests and for right long duration, these beasts knew way before it was unsafe…no amount of safety tests can take something unsafe from get go, and MAKE it safe…
it is for this reason we hang them all, we hang them high.
SLAY NEWS
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A judge in the United Kingdom has ordered President Donald Trump to pay $385,000 in legal fees over a lawsuit he filed against British spy Christopher Steele over the fake “dossier” he authored for Hillary Clinton’s failed 2016 campaign.
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CNN Accuses NY Times of ‘Shameful’ Bias toward Trump, Complains Outlet Too Harsh on Biden
Cracks appear to be forming among America’s leading leftist corporate media outlets as the critical 2024 presidential election draws near.
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Bungling Leftist Humiliated after Botched Attempt to Burn American & Israeli Flags
A bungling leftist was left humiliated after he was filmed botching an attempt to burn an American and Israeli flag in New York City.
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RNC Anoints Trump’s Choices for Top Leadership Roles
The Republican National Committee (RNC) has anointed President Donald Trump’s hand-picked choices for top leadership roles.
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| EVOL NEWS: |
ALERT: Biden’s Big Announcement Has Americans LIVID – EVOL
READ MORE…
LATEST NEWS:
Top Study Confirms Hospitals Euthanized Patients to Boost ‘Covid Deaths’ – EVOL
Read more…
John Kerry Makes ABSURD ‘Climate Change’ Announcement – EVOL
Read more…
NBA Superstar Double Down Over Attack On Trump Supporters – EVOL
Read more…
Expelled congressman George Santos announces he is re-running for Congress after turning up at SOTU – EVOL
Read more…
SHAMELESS: Biden Uses Laken Riley To Push For Insane Border Bill – EVOL
Read more…
Gold Star Parent is Placed Under Arrest for Interrupting Joe Biden’s State of the Union Speech – EVOL
Read more…
Gold Star Parent Interrupts Biden’s SOTU with Shout of “United States Marines!” – EVOL
Read more…
Joe Biden Finally ‘Says Her Name’ at the State of the Union — And Humiliates Himself in the Process – EVOL
Read more…
NEWS ADDICT
| LATEST REPORTS FOR NEWS JUNKIES |
| Top Study Confirms Hospitals Euthanized Patients to Boost ‘Covid Deaths’A top study has just confirmed a report that hospitals were euthanizing patients during the pandemic in order to boost “Covid deaths.”READ THE FULL REPORT |
| Rothschilds Hold 2015 Patent for COVID-19 TestingMembers of the Rothschild banking dynasty secured a patent in 2015 for COVID-19 – Four years before the coronavirus was first unleashed on the public.READ THE FULL REPORT |
| Speaker Johnson Drops Bombshell Biden VideoHouse Speaker Mike Johnson’s office has unveiled a compelling video with the intention of discrediting President Joe Biden prior to his upcoming State of the Union Address on Thursday.READ THE FULL REPORT |
| John Kerry Makes ABSURD ‘Climate Change’ AnnouncementJohn Kerry, the outgoing “climate czar” under Democrat President Joe Biden, recently suggested that global perception of Russia’s invasion of Ukraine could improve if Moscow took more significant steps to reduce emissions.READ THE FULL REPORT |
| NBA Superstar Double Down Over Attack On Trump SupportersCharles Barkley, a former NBA player, expressed on CNN’s “King Charles” that individuals of African descent who choose to wear merchandise featuring the mugshot of former President Donald Trump are behaving foolishly.READ THE FULL REPORT |
| LATEST REPORTS FOR NEWS JUNKIES |
| Zero Amish Children Diagnosed with Cancer, Autism, Heart FailureAs a growing number of children across America are being diagnosed with multiple life-threatening illnesses, a comprehensive study has found that zero Amish children have been impacted by cancer, heart failure, autism, or any other chronic conditions.READ THE FULL REPORT |
| Tyson Agrees to Add Insects to ‘Food’ Products without Informing ConsumersTyson Foods has just signed a massive new deal that will see the company adding insects to its products without informing consumers.READ THE FULL REPORT |
| Donald Trump TORCHES ‘Psycho’ Joe BidenFormer President Donald Trump criticized President Joe Biden on Friday after the 81-year-old delivered his State of the Union (SOTU) speech, condemning Biden’s hostile attitude. “Biden’s speech last night is getting ‘panned’ all over the World. Only the Radical Left lunatics are trying to make the best of it,” Trump said in a post on Truth Social. “It took him …READ THE FULL REPORT |
| Disgrace: Biden Butchers the Name of Slain College Student (Video)President Joe Biden completely butchered the name of Laken Riley, a nursing student who was reportedly killed by an undocumented immigrant. During his SOTU address, Rep. Marjorie Taylor Greene could be heard shouting, “Laken Riley… say her name!” Biden then proceeded to mess up her name, saying, “Lincoln Riley, an innocent young woman who was killed by an illegal.” “That’s …READ THE FULL REPORT |
| Multiple Government Websites Abruptly Shut DownOn Thursday evening, during President Joe Biden’s fourth State of the Union address, a significant number of essential federal government websites encountered complete outages. It remains unclear as of early Friday morning whether these outages were directly linked to the annual speech, which took place at the U.S. Capitol. However, according to the U.K.’s Daily Mail, various government agencies’ websites …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//
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS MONDAY MORNING 7;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0941 UP .0013
USA/ YEN 146.72 DOWN 0.212 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2847 UP .0004
USA/CAN DOLLAR: 1.3487 UP .0027 (CDN DOLLAR DOWN 27 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED UP 23.44 PTS OR 0.74%
Hang Seng CLOSED UP 234.18 POINTS OR 1.43%
AUSTRALIA CLOSED DOWN 1.78% // EUROPEAN BOURSE: ALL RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL RED
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 234.18 PTS OR 1.43%
/SHANGHAI CLOSED UP 27,44 PTS OR 0.74%
AUSTRALIA BOURSE CLOSED DOWN 1.78%
(Nikkei (Japan) CLOSED DOWN 868.65 PTS OR 2.19%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2178.25
silver:$24.34
USA dollar index early MONDAY morning: 102.33 UP 1 BASIS POINTS FROM FRIDAY’s CLOSE.
MONDAY MORNING NUMBERS ENDS
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And now your closing MONDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 2.884% UP 4 in basis point(s) yield
JAPANESE BOND YIELD: +0.758% UP 1 AND 4//100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.128 UP 5 in basis points yield
ITALIAN 10 YR BOND YIELD 3.628 UP 5 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.3060 UP 4 BASIS PTS
END
IMPORTANT CURRENCY CLOSES FOR MONDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0921 DOWN 0.0007 or 7 basis points
USA/Japan: 146,93 DOWN 0.030 OR YEN IS UP 3 BASIS PTS
Great Britain/USA 1.2809 DOWN .0034 OR 34 BASIS POINTS //
Canadian dollar DOWN .0035 OR 35 BASIS pts to 1.3495
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The USA/Yuan, CNY: closed ON SHORE CLOSED UP AT 7.1830
THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.1854)
TURKISH LIRA: 32.01 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.758…
Your closing 10 yr US bond yield UP 1 in basis points from FRIDAY at 4.097% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield 4.266 UP 0 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.526 UP 4 BASIS PTS.
GOLD AT 11;30 AM 2184.20
SILVER AT 11;30: 24.46
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: MONDAY CLOSING TIME 12:00 PM//
London: CLOSED DOWN 2.50 PTS OR 0.03%
German Dax : CLOSED DOWN 58,93 PTS OR 0.16%
Paris CAC CLOSED DOWN 22,08 PTS OR 0.28%
Spain IBEX CLOSED UP 6,70 PTS OR 0.06%
Italian MIB: CLOSED DOWN 165,65 PTS OR 0.50%
WTI Oil price 77.45 12: EST/
Brent Oil: 81.90 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 90.60; ROUBLE DOWN 0 AND 8//100
GERMAN 10 YR BOND YIELD; +2.3060 UP 4 BASIS PTS
UK 10 YR YIELD: 4.0200 UP 1 BASIS POINTS
CLOSING NUMBERS: 4 PM
Euro vs USA: 1.0927 DOWN .0001 OR 1 BASIS POINTS
British Pound: 1.2862 DOWN .0030 or 30 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.001 DOWN 3 BASIS PTS//
JAPAN 10 YR YIELD: 0.741%
USA dollar vs Japanese Yen: 147.09 DOWN 0.777//YEN UP 78 BASIS PTS//
USA dollar vs Canadian dollar: 1.3495 UP .0042 CDN dollar DOWN 42 basis pts)
West Texas intermediate oil: 77.98
Brent OIL: 81.909
USA 10 yr bond yield DOWN 0 BASIS pts to 4.099%
USA 30 yr bond yield UP 1 BASIS PTS to 4.259%
USA 2 YR BOND: DOWN 2 PTS AT 4.490%
USA dollar index: 102.75 DOWN 2 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 31.93 (GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 90.60 DOWN 0 AND 1/100 roubles
GOLD 2176.75 3:30 PM
SILVER: 24.26 3:30 PM
DOW JONES INDUSTRIAL AVERAGE: DOWN 68.07 PTS OR 0.18%
NASDAQ UP 279.54 PTS OR 1.53%
VOLATILITY INDEX: 14.79 UP .35 PTS OR 2.42%
GLD: $201.63 UP 1.69 OR 0.85%
SLV/ $22,23 DOWN 0,01 OR 0.045%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
END
MORNING TRADING/
AFTERNOON TRADING/
II USA DATA
TUCKER CARLSON….
III USA ECONOMIC COMMENTARIES
Another disaster for Boeing
(zerohedge)
Another Boeing Passenger Plane Declares ‘Emergency’, This Time Over Europe
MONDAY, MAR 11, 2024 – 09:27 AM
Update (0927ET)
Following the LATAM Airlines 787-9 Dreamliner mid-air incident on Sunday, flight tracking website RadarBox reports a KLM Royal Dutch Airlines Boeing 777-306ER from Amsterdam to São Paulo has declared an emergency via Squawk code 7700 and is “currently diverting.”
Squawk code 7700 is a general emergency. There are no reasons yet why pilots declared the emergency.
* * *
Following a series of incidents involving Boeing aircraft in the US last week, a South American LATAM Airlines 787-9 Dreamliner en route from Sydney, Australia, to Auckland, New Zealand, encountered a “technical event” that led to significant turbulence, which injured at least 50 passengers.
LATAM told AP News that Flight LA800, involving a 787-9 Dreamliner, experienced a “technical event during the flight which caused a strong movement” but did not elaborate further on the incident. The local newspaper, the New Zealand Herald, explained that the plane suddenly lost altitude.
KLM flight #KL791 from Amsterdam (AMS) to São Paulo (GRU) is declaring an emergency via Squawk 7700 and currently diverting: https://radarbox.com/flight/KL791
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Flight Emergency
@FlightEmergency
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34m
KLM flight KL791 AMS- GRU Squawking 7700 (emergency) @RadarBoxCom Follow flight KL791 at RadarBox https://radarbox.com/flight/KL791
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4,220 Views
After the 787-9 Dreamliner landed, local ambulance services in Auckland treated 50 people for mild injuries, and 13 were taken to local area hospitals.
LATAM said in a statement to the New Zealand Herald: “As a result of the incident, some passengers and cabin crew were affected. They received immediate assistance and were evaluated or treated by medical staff at the airport as needed.”
The statement continued: “LATAM regrets the inconvenience and injury this situation may have caused its passengers and reiterates its commitment to safety as a priority within the framework of its operational standards.”
end
Expect Another Surge In Food Prices Fueled By ‘Dynamic Pricing’
MONDAY, MAR 11, 2024 – 11:21 AM
Authored by Mike Shedlock via MishTalk.com,
Restaurants are moving towards dynamic menu prices. Expect big surcharges for peak times. Don’t expect off peak prices to drop much. Labor costs are rising too.
CPI food indexes prices, data from the BLS, chart by Mish
Surge Pricing Is Coming to You
Restaurants are experimenting with surge pricing to deal with peak hours and staffing demand. They like it. You probably won’t.
The Wall Street Journal reports Surge Pricing Is Coming to More Menus Near You
Restaurants like San Diego-based Cali BBQ are experimenting with a form of the dynamic pricing long used by airlines, hotels and ride-hailing services. Technology providers are pitching services that enable restaurants to change prices weekly or monthly, increasing or slashing the cost of a taco or sandwich between a few quarters to several dollars, depending on demand and sales patterns.
Dynamic pricing—charging higher rates at peak times and dropping them at slower ones—has become commonplace in industries such as e-commerce, and mobile apps have made it easier for companies to study consumers’ buying and browsing and quickly adapt. Rising costs in recent years have led more retailers to implement it.
Restaurants are experimenting with the technology as the industry looks for ways to boost sales and increase profits. Many restaurants increased menu prices as labor, food and other costs have soared since 2021.
Wendy’s drew public scrutiny after the burger chain said in a mid-February earnings call that it was looking to test dynamic pricing. The chain said it would invest around $20 million in its U.S. restaurants to install digital menu boards by 2025 that could suggest items to customers and present different offerings depending on the time of day.
Other restaurants, particularly sit-down ones, are charging more for prime seats during peak hours. Gene and Georgetti, a historic Chicago steakhouse where Frank Sinatra once regularly dined, in late 2022 implemented dynamic pricing on two booths frequented by celebrity customers. Diners typically pay a $20 fee when they book the booths at busy hours, helping counterbalance the restaurant’s rising expenses, managing partner Michelle Durpetti said.
While some consumers tend to resent surge pricing, as Wendy’s discovered last month, they like happy-hour discounts and other deals at slow times, industry consultants said.
Discount Pricing
People like discounts. But that’s not how it will work.
Instead, prices will go up across the board. Then to get the discount you will have to go off peak. And so on and so forth.
CPI Food Index Levels at Home vs Away percent change from Year Ago
CPI food prices percent change from a year ago, data from the BLS, chart by Mish
Three Major CPI Food Categories Month-Over-Month
CPI food prices percent change from a year ago, data from the BLS, chart by Mish
Month-over-month food prices have bottomed. Expect food prices to put upward pressure on the CPI.
Cheeseburger Prices Soaring
On March 8, I noted Skyrocketing Costs Driving Cheeseburger Prices Up
In January, 59% of small-business owners reported higher labor costs were their biggest source of inflation, according to a survey of more than 425 entrepreneurs conducted for The Wall Street Journal by Vistage Worldwide, a business-coaching and peer-advisory firm.
Concerns Over inflation and Employment
ISM Services weakened slightly mainly due to a contraction in employment and faster deliveries. Prices remain a concern. The report hints at stagflation.
ISM chart and excerpts below by permission from the Institute for Supply Management® ISM®
On March 5, I noted ISM Services Respondents Share Concerns Over inflation and Employment
Price inflation is notable. Prices are up 81 consecutive months. 58.6 percent of respondents say prices rose in February, That’s down from a whopping 64 percent last month.
The report is a mixed bag that hints at stagflation. It does not suggest imminent rate cuts by the Fed.
70 Percent of the CPI Is Sticky
Some prices change frequently, notably gasoline. Most of the CPI changes infrequently. This post takes a look at the Atlanta Fed Sticky price project.
Sticky and Flexible CPI data from the Atlanta Fed, CPI from the BLS, chart by Mish
On February 26, I noted 70 Percent of the CPI Is Sticky, Including Rent, Insurance, Food Away From Home
The year-over-year weakening of the CPI and the Sticky CPI is partly due the fact that the change in trend is itself sticky. However, the price of gasoline appears to have bottomed and perhaps food prices have too.
If so, some of the benefit of lower year-over-year trend in rent may get chewed up by a rise in flexible CPI components.
Finally, for the next few months, the year-over-year comparisons are a bit harder to beat. So even if the monthly rent measures ease from the 0.40 percent 29 month-over-month trend, there may not be much of an improvement in the year-over-year measures.
We Are Not Over the Rainbow
Let’s check in with former Fed Vice-Chair Alan Blinder and his soft landing thesis.
My Hoot of the Day on February 27 was Alan Blinder’s victory prognosis “The Fed Has Reached the Soft Landing Runway”
Hello Toto (Alan Blinder and Jerome Powell)
The tools that worked in 2003 are not what the Fed can rely on here.
Global wage arbitrage is gone. Just in time manufacturing is gone. Union wage contracts are soaring. Home prices are out of sight.
Demographics require more spending on healthcare with fewer workers contributing to Medicare and Social Security.
And that does not address the Fiscal Cliff that Powell Sees but Blinder doesn’t.
A soft landing is now the consensus estimate. I strongly disagree.
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM…
iiiC USA COVID //VACCINE ISSUES
END
FREIGHT ISSUES/USA
END
VICTOR DAVIS HANSON
VDH with Tucker Carlson on Biden’s speech:
Victor Davis Hanson: One Angry Biden Lie After Another
FRIDAY, MAR 08, 2024 – 07:40 PM
Victor Davis Hanson’s calm and reasoned response with Tucker Carlson to President Biden’s SOTU address is worth every second:https://www.zerohedge.com/political/victor-davis-hanson-one-angry-biden-lie-after-another
But the professor put digital pen to paper in a post on X this afternoon, laying out all the details.
A demagogic fuming Biden gave another Phantom of the Opera speech blasting conservatives for all the destruction that he has caused and has resulted in his own historic unpopularity.
All too aware that he was confused and incoherent, his handlers felt that the antidote was to come out barking and bellowing at his imaginary enemies.
Any Never Trumper who would vote for such a screeching maniac is suicidal. The night’s nadir? Joe, of the Hunter-Biden family consortium, damned the money-grubbing “rich” who “don’t pay their fair share of taxes”—all of this when his own son is now facing multiple felony counts for not paying any income tax at all! And Joe himself has received lots of family money without paying tax on such “loan repayments”.
In truth, Biden gave the most livid state-of-the-union address in modern memory, a surreal teleprompted rant from a “get off my grass” old man. At points, he started howling at the seated opposition and even called out Supreme Court Justices. Determined not to reveal cognitive decline, Biden instead came late to the podium shouting nonstop, grimacing in reptilian style for over an hour.
If the planned Adderall-fueled screaming was to prove he was still alive, most would have preferred his drowsy incoherence.
But mostly the speech was one of abject lies as he either blamed all his disasters on others or claimed they were his greatest achievements.
Deficits? Why does he think we have high inflation and high interest rates after he took office? The debt was $28 trillion when he came in and now after just 3 years it is nearly $35—and is now growing by $1 trillion every 100 days. At the current rate a two-term Biden presidency would have in aggregate added $22 trillion more to national debt.
Ukraine? Biden started out with Ukraine, not inflation, not the border, not crime. Does he remember he suspended military aid to Ukraine upon taking office? Does he know that Putin did not invade a neighboring country in just one administration of the last four? Does he know why? Does he recall his humiliation in Afghanistan that green lighted
Putin? There are now 700,000 combined casualties in Ukraine and so what is the plan to end our Verdun? Another 6-month-long “spring offensive” against fortified lines?
Abortion? Biden screamed that the Dobbs decision outlaws abortion and threatens women’s lives when it allows any state to let its own people determine their own laws. Is Trump’s plan to let the states decide and to favor a 16-week ban more sensible than Biden’s abortion on demand that would allow some 5,000-10,000 partial birth or post-21 weeks abortions?
The Border? Do we remember Mayorkas bragging in detail how Biden rescinded all of Trump executive orders (he listed them by name) to destroy the border and let in 8-10 million illegal aliens? Biden campaigned on just that, calling on illegal aliens to “surge” the border.
Inflation? It is up 17% since he took office! Prices of the stuff of life have risen 30%—staple foods, fuel, appliances and care, shelter, mortgages. etc. January 6? In Bidenland a buffoonish afternoon riot now trumps Pearl Harbor—or the 120 days of looting, rioting, violence, death, and injury of summer 2020?
Gaza? Basically Hamas murders, rapes, tortures, and mutilates1,200 Jews, takes 250 hostages, rapes and murders untold numbers of them, is shielded by civilians beneath mosques, schools, and hospitals, and then the US blames Israel for retaliating. Biden cites bogus Hamas fatality figures, and promises to build a US port on the Gaza coast to pour in massive aid to Hamas-controlled Gaza.
This furious speech was a preview of the 2024 campaign. The Democratic nominee will run on abortion, January 6, and the ‘booming’ economy, hope leftwing prosecutors can bankrupt or incarcerate Trump, and ensure that in all the swing states 70 percent of the electorate do not vote in person on Election Day.
END
SWAMP STORIES
“Sleazy” Liz Cheney Loses It After Bombshell Report Claims She “Suppressed Exonerating Evidence” With J6 Committee
MONDAY, MAR 11, 2024 – 06:15 AM
Former Rep. Liz Cheney (of the revolving door Haliburton –> White House –> war profiteer dynasty) came unglued this weekend following a report by The Federalist‘s Mollie Hemingway, which accuses Cheney and the January 6 committee of suppressing exonerating evidence of then-President Trump’s push for 10,000 national guard troops to protect the nation’s capital on the day of the Capitol riot.
To summarize The Federalist;
- Cheney and the J6 committee “falsely claimed they had “no evidence” to support Trump officials’ claims the White House had communicated its desire for 10,000 National Guard troops.”
- In truth, an early transcribed interview conducted by the committee “included precisely that evidence from a key source.”
- That key source, Deputy Chief of Staff Anthony Ornato, said he overheard White House Chief of Staff Mark Meadows push DC Mayor Muriel Bowser to request as many National Guard troops as needed to protect DC on Jan. 6.
- Ornato also testified that Trump suggested 10,000 troops to keep the peace at public rallies and protests scheduled for Jan. 6, 2021 – and that the White House was frustrated with Acting Secretary of Defense Christopher Miller’s slow deployment of assistance on the day of the riot.
- Ornato’s testimony was corroborated by Kash Patel, the former chief of staff to the acting secretary of defense.
- According to The Federalist, this information was suppressed.
Hemingway writes that the committee not only mischaracterized the interview, they also suppressed the transcript from public review.
On top of that, committee allies began publishing critical stories and even conspiracy theories about Ornato ahead of follow-up interviews with him. Ornato was a career Secret Service official who had been detailed to the security position in the White House.
Cheney frequently points skeptics of her investigation to the Government Publishing Office website that posted, she said, “transcripts, documents, exhibits & our meticulously sourced 800+ page final report.” That website provides “supporting documents” to the claims made by Cheney and fellow anti-Trump enthusiasts.
However, transcripts of fewer than half of the 1,000 interviews the committee claims it conducted are posted on that site. It is unclear how many of the hidden transcripts include exonerating information suppressed by the committee. -The Federalist
Click here to read the entire report, which includes Ornato’s full answers to the committee.
“The former J6 Select Committee apparently withheld Mr. Ornato’s critical witness testimony from the American people because it contradicted their pre-determined narrative. Mr. Ornato’s testimony proves what Mr. Meadows has said all along: President Trump did in fact offer 10,000 National Guard troops to secure the U.S. Capitol, which was turned down,” said Rep. Barry Loudermilk (R-GA). Loudermilk’s subcommittee is reviewing the work of the Jan. 6 committee following accusations of unethical behavior at the expense of accuracy, along with collusion with other Democrat efforts at political persecution.
Liz Loses it
Hi Mark: I see you’re still spreading BS. You & the bozo who wrote this might want to actually read the 1/6 report (eg, Appendix 2, 741-2, 127-8, 587-92), SecDef Miller’s transcript (Trump never ordered 10k troops), Judge Wallace’s finding (Kash Patel is “not a credible witness”)
Quote
Mark R. Levin
@marklevinshow
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Mar 9
Sleazy Liz Cheney needs to receive some of the Stalinist medicine she introduced into the body politick against scores of patriotic Americans — that is, she needs to be compelled to testify under oath about, among other things, what knowledge she may have about: possible…
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4M View
On Saturday, conservative commentator Mark Levin called Cheney out, posting on X: “Sleazy Liz Cheney needs to receive some of the Stalinist medicine she introduced into the body politick against scores of patriotic Americans — that is, she needs to be compelled to testify under oath about, among other things, what knowledge she may have about: possible witness tampering, censorship of exculpatory information and testimony, the destruction of committee evidence and data, etc.”
Cheney responded, calling Mollie Hemingway a “bozo” – and directing people to various sections of the Jan. 6 report in which Secretary of Defense Miller (the guy who was ‘slow to deploy’ assistance) said Trump never ordered 10,000 troops, and that Kash Patel is “not a credible witness” (as determined by a judge with a conflict noted below).
Note that Cheney never addresses the suppression of information.
Hi Mark: I see you’re still spreading BS. You & the bozo who wrote this might want to actually read the 1/6 report (eg, Appendix 2, 741-2, 127-8, 587-92), SecDef Miller’s transcript (Trump never ordered 10k troops), Judge Wallace’s finding (Kash Patel is “not a credible witness”)
Quote
Mark R. Levin
@marklevinshow
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Mar 9
Sleazy Liz Cheney needs to receive some of the Stalinist medicine she introduced into the body politick against scores of patriotic Americans — that is, she needs to be compelled to testify under oath about, among other things, what knowledge she may have about: possible…
·
4M Views
Cheney was dismantled in the replies:
What’s this? Actual evidence that Cheney is lying from the secretary of defense? January 3, 2021 “President concurs in activation of the DCNG to support law enforcement.”
·
You mean this Judge Wallace? The Democrat donor and new Democrat appointee to Denver District Court? Who donated to an anti-Trump PAC to chase out of office Republicans for January 6th? When caught, she claimed she didn’t remember making that political donation a year prior?
Quote
New Denver District Judge Sarah Wallace, a Democrat Donor, Commits Reversible Error By Refusing to Recuse from Trump January 6th Case After Donating to Anti-Trump January 6th PAC 1. On August 18, 2022, Democrat Governor Jared Polis appointed Democrat donor Sarah Wallace as…
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106.5K Views
KING REPORT//
| The King Report March 11, 2024 Issue 7197 | Independent View of the News |
| As certain as night follows day, the Obama-Biden administration will report a great NFP while revising the previous month’s NFP significantly lower. This scam has appeared for over one year. The BLS reported February NFP of 275k; 200k was expected. However, the great January NFP of 353k was sharply revised lower, to 229k. And December was revised 43k lower. Ergo, the 2-month revision was -167k! Private Payrolls for January were revised to 177k from 317k, a -140k revision! Manufacturing lost 4k jobs: +7k was expected. Wages increased 0.1% m/m and 4.3% y/y; 0.2% m/m and 4.3% y/y were expected. January Wages were revised 0.1 lower, to 0.5% m/m and 4.4% y/y. https://www.bls.gov/news.release/empsit.nr0.htm Government +52k jobs (Fed 9k) on election year largesse. Health care & social assistance +90.7KK with Health care +66.7k; Leisure & Hospitality +58k; Retail +18.7k; Birth/Death Model -25k from 2023 The seasonal adjustment for February 2023 NFP is +1.243m; for February 2024 NFP it is +1.253m. https://www.bls.gov/news.release/empsit.t17.htm The Household Survey’s ‘Employed’ declined 184k, the second consecutive loss of jobs, while the NFP has shown ‘great’ job growth. There is now an historic divergence between NFP and Employed. Unemployed increased 334K! The Unemployment Rate jumped to 3.9% from 3.7%, which was also expected. The Labor Force Participation Rate remained at 62.5%; 62.6% was consensus. https://www.bls.gov/news.release/empsit.a.htm The February Employment Report provided a Rorschach Test for the Street. Bulls hailed the increase in the Unemployment Rate as a reason for the Fed to cut rates in June. Bears noted the ‘strong’ NFP. Bloomberg headline: US Jobless Rate Hits Two-Year High Even as Hiring Stays Strong Yes, Virgina, the BBG headline is a contradiction. We do not know if the writer was being clever or if the writer didn’t appreciate the incongruity in the headline. @EPBResearch: The Establishment Survey… initiation rate is the rate at which data collectors are able to get a new establishment to participate in the survey. The initiation rate has collapsed from 75% in 2014 to 27% in January 2024. https://twitter.com/EPBResearch/status/1765750735197577283 The collection rate is the rate of responses for establishments in the survey. On the first release, the collection rate has declined from roughly 80% in 2014 to 56% as of January 2024… On the final release, the collection rate has declined from over 96% in 2014 to 88% as of November 2023. https://twitter.com/EPBResearch/status/1765750735197577283 Reuters: Fed gets another reason not to rush on rate cuts https://t.co/Q6KC3nvNm6 @zerohedge: In February 1.2 million foreign-born workers (immigrants, both legal and illegal) found a new job. Meanwhile, 500K native-born American workers lost their job. In the past year, the US has created 921,000 part-time jobs and lost 284,000 full-time jobs https://t.co/BOXvXYwKw2 @RealEJAntoni: Native-born employment is not only way below pre-pandemic trend but also 1 million below pre-pandemic level, losing ground over the last 4 years; conversely, foreign-born employment has been back to pre-pandemic trend for months, and now 3.3 million above its pre-pandemic level: https://twitter.com/RealEJAntoni/status/1766103671224557717 ESHs traded negatively but in a very tight range from the Nikkei opening until 23:00 ET. They then turned positive but traded in another tight range until they broke down near 6:30 ET. ESHs sank on the February Employment Report but quickly rebounded. ESHs hit a daily high of 5193.00 at 10:06 ET. Aggressive sellers then appeared; ESHs tumbled to a daily low of 5121.75 at 13:39 ET. The standard Friday Afternoon Rally took ESHs to 5155.25 at 14:42 ET. ESHs then fell to 5127.50 at 15:59 ET. USHs hit a daily high of 122 9/32 at 8:38 ET and made a daily low of 121 2/32 (-21/32 for day) seconds earlier. USHs traded between 121 27/32 and 121 13/32 from 9:04 ET until the NYSE close. Rigging US economic statistics is a core Team Obama-Biden strategy (Just like the old USSR!). Brainard Pushed to Change Biden Rate Forecast to Rosier View – Bloomberg Top aide joins meeting, urges lower Treasury rate forecast NEC directors not typically involved in setting forecasts Lael Brainard, Biden’s top economic adviser, successfully pushed to change a White House forecast in a way that resulted in a rosier outlook for the president’s budget plan, sources say… A lower interest-rate forecast would have the effect of an improved overall outlook by offering more support for growth and suggesting less concern about inflation. It also would lower borrowing cost projections at a time of rising worries about the US deficit and debt… https://uk.news.yahoo.com/brainard-pushed-change-biden-budget-100000138.html Positive aspects of previous session Stocks and bonds rallied early in US trading on rate cut hope & hype Negative aspects of previous session Stocks and bonds tumbled after early US rallies; stocks sank during the final hour of trading Gold rallied sharply & hit an all-time high of 2195.15 while other commodities declined sharply Ambiguous aspects of previous session How will the Fed interpret the bogus February Employment Report? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Down Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5143.48 Previous session S&P 500 Index High/Low: 5189.26; 5117.50 MIT Claims Superconducting Breakthrough Means Fusion Power Can Be Practical “Now fusion has a chance.” https://futurism.com/the-byte/mit-magnets-ready-fusion @RNCResearch: “Do you regret using the word ‘illegal’ to describe immigrants last night?” BIDEN (short circuiting): “Well, I probably, uhhhh, I don’t re— it, uhhh, aghhh, technically not supposed to be here…” https://t.co/ubl5SEOAyc BIDEN v. TELEPROPTER: “We added more to the national debt than any president in his term in all of history!” https://t.co/z2NBOLeE7h BIDEN: “Pennsylvania, I have a message for you: send me to Congress!” https://t.co/5LHZ4hVTb2 Biden believes the Fed will lower interest rates – “I can’t guarantee it; but I bet you those rates come down.” https://www.yahoo.com/news/biden-believes-fed-lower-interest-013409127.html @Mighty990KWAM: Biden gets the January 6th date wrong… (Said ‘July 6’) https://twitter.com/Mighty990KWAM/status/1766276244121784624 @SteveGuest: Joe Biden says almost every world leader has grabbed his arm, pulled him aside, and said “You can’t win again.” https://twitter.com/SteveGuest/status/1766268514040475724 @RNCResearch (Sat.): Biden is slurring hard tonight https://twitter.com/RNCResearch/status/1766599655972901069 AP: Killing of Laken Riley is now front and center of US immigration debate and 2024 presidential race https://apnews.com/article/laken-riley-university-georgia-death-nursing-student-a88e92600ab4dcce1a88e121b7b9c722 @MicaSoellnerDC: One GOP aide tells me Biden’s words on immigration, particularly calling Laken Riley’s alleged killer an “illegal” and saying “thousands have been killed” will be used in Republican ads. Says it was “good of him” to acknowledge that. Progressives are not happy w/ his rhetoric. @EndWokeness (Sat.): Biden apologizes for calling Laken Riley’s killer an “illegal.” “I’m not gonna treat any of these people with disrespect. They built the country.” https://t.co/nNTOLzq5vP Biden pathetically and cravenly apologized to the illegal alien alleged killer and leftists, but not the victim’s family. Furthermore, “They” – current illegal immigrants – did NOT “build the country!” GOP Rep. Monica De La Cruz (@monica4congress): Tone deaf. Mr. President, most Hispanics do not give a damn that you called the man who brutally murdered Laken Riley an “illegal.” En serio. No one cares outside of Jorge Ramos—who lives in a mansion—and literally cuatro DC “Latinx” activists. @greg_price11: Not a single Democrat Senator just voted for Sen. Bill Hagerty’s amendment to stop illegal aliens from being counted in apportionment for congressional districts and the Electoral College. https://twitter.com/greg_price11/status/1766258963451125881?s=02 @DavidAsmanfox: There can no longer be any doubt as to why Biden has subjected Americans to all the tragic costs and inequities of an open border. Senate Democrats just raised their hands to admit it. Gangbangers openly sell fake IDs, green cards to migrants on NYC streets as officials warn of danger https://trib.al/arT0mar Now-empty $42M NYC WeWork office building offered up as emergency migrant shelter https://trib.al/kGok35Q @stillgray: Haiti has collapsed. The President is no longer in the country. The ports are officially closed. Cannibal gangs are besieging the national palace in Port-au-Prince. (More immigrants to the US!) @GOPoversight: Emails show ‘access’ to Biden family reason for Chinese business partnership with Hunter Biden https://t.co/b7FYlIBJLC Today – Nvidia declined 5.6% on Friday after posting an early 5.1% gain. This is the biggest decline since May. The action in Nvidia implies that sizable players are liquidating Mag 7 trading sardines. This is a warning that historically overbought US stocks are exceedingly vulnerable to a significant decline. The usual suspects will play for the expected Monday Rally. ESUs are +1.25; NQHs are -9.75; USHs are +4/32 at 20:20 ET. S&P Index 50-day MA: 4924; 100-day MA: 4701; 150-day MA: 4602; 200-day MA: 4551 DJIA 50-day MA: 38,267; 100-day MA: 36,665; 150-day MA: 35,891, 200-day MA: 35,475 (Green is positive slope; Red is negative slope) S&P 500 Index (5123.69) – Trender BBG trading model and MACD for key time frames Monthly: Trender and MACD are positive – a close below 4455.17 triggers a sell signal Weekly: Trender and MACD are positive – a close below 4901.55 triggers a sell signal Daily: Trender is positive; MACD is negative – a close below 5037.46 triggers a sell signal Hourly: Trender is positive; MACD is negative – a close below 5123.04 triggers a sell signal The Biden Plan to Ditch Netanyahu the “come to Jesus moment” is already here, according to Israeli and U.S. sources… After the speech (SOTU), Biden was stopped by Senator Michael Bennet of Colorado, who told him to “keep pushing” Israel’s leader. Smiling, Biden said, “I told him, ‘Bibi,’— don’t repeat this— ‘you & I are going to have a come to Jesus moment.” Hidden behind Secretary of State Antony Blinken, a presidential aide whispered, “Sir, you’re on a hot mic,” to which a buoyant Biden replied, “I’m on a hot mic here. Good. That’s good.”… One Israeli expert frequently consulted by American officials says, “I have been asked by a serious administration figure what it is that will force the Netanyahu coalition to collapse. They were interested in the mechanics, what can we demand which will collapse his coalition.”… Biden’s command to build a sea pier is an end-run around Netanyahu’s dithering to allow aid to be transported overland from Israel, as the U.S. has demanded for months. The pier was the second initiative through which Biden undermined Netanyahu over that past week… https://nymag.com/intelligencer/article/the-biden-plan-to-ditch-israels-netanyahu.html Team Obama Biden is unfathomably and despicably undermining Israel’s war effort and trying to overthrow its PM while Israel is engaged in an existential conflict! Obamaites are trying to justify their egregious treachery by equivocating that while they are trying to depose Bibi, they still support Israel! @rich_goldberg: The position Biden is staking out is at odds with the entire political spectrum of Israel. Biden is breaking with Israel, using an anti-Netanyahu line as cover. Run down the list: Rafah, two-state solution, UNRWA, etc. Unity in Israel on these issues. @visegrad24: Biden says an Israeli ground invasion of Rafah would be “a red line.” He repeats the Hamas figure of 30,000 killed in Gaza. He seems to say that the U.S. shouldn’t have invaded Afghanistan after 9/11 and that Israel shouldn’t invade Gaza after 7/10 https://twitter.com/visegrad24/status/1766632012029231170 Netanyahu vows to defy Biden’s ‘red line’ and invade Rafah Israel PM insists his priority is to prevent another terror attack like the Oct. 7 Hamas raid. https://www.politico.eu/article/israels-netanyahu-says-he-will-defy-bidens-red-line-and-invade-rafah/ @sentdefender: To be clear, Soldiers with the U.S. Army are now on their way to the Coast of the Gaza Strip to provide Aid to a Terrorist-Controlled Nation State which one of our Closest Allies is at War with. All of this while the Terrorist Organization which is in Control of this Nation State still is holding at least 6 Americans and over 100 Israelis as Hostages. @albamonica: Biden: “To the leadership of Israel I say this. Humanitarian assistance cannot be a secondary consideration or a bargaining chip. Protecting & saving innocent lives has to be a priority. As we look to the future, the only real solution to the situation is a 2-state solution.” https://twitter.com/albamonica/status/1765941896575143969?s=02 @AP: President Biden says Netanyahu is “hurting Israel” by not doing more to avert civilian deaths in Gaza, as the split between leaders grows. @NoahPollak: This will only make Bibi more popular in Israel, since virtually no Israelis share Biden’s view. Obama ran the exact same play, and it failed. But this isn’t about Israel — it’s about Democrats playing to their antisemitic base. @DYShor: Biden makes the blunder of answering whether and why Hamas would want a ceasefire (“I think Hamas would like a total ceasefire… to survive…”). He then notices his terrible blunder in saying the truth and goes off on a tangent. https://twitter.com/DYShor/status/1766705280585191706 GOP senator (Graham) challenges Biden to clarify Hamas position after State of the Union remark Biden said about Hamas, “If you release the hostages, the war will be over.” “I literally about fell out of my seat,” Graham said. “Is the president saying that if the hostages are released by Hamas, they can stay in power? That ends the conflict?“… https://t.co/KUNfIWhopN Graham on “Meet the Press”: When you talk about red lines against Israel, we should be talking about red lines against Iran. Israel’s not killing American soldiers. Iran is, through their proxies… https://www.nbcnews.com/meet-the-press/meet-press-march-10-2024-n1309273 @RNCResearch: “Are the Israelis at risk of losing U.S. aid?” KAMALA HARRIS: *word salad* https://twitter.com/RNCResearch/status/1766484567509082323 Netanyahu Hits Back at Biden on War: ‘He’s Wrong’ “The attempt to say that my policies … are not supported by most Israelis is false. The vast majority are united as never before, and they understand what’s good for Israel.”… https://www.breitbart.com/middle-east/2024/03/10/watch-netanyahu-hits-back-at-biden-on-war-hes-wrong/ WaPo: Early polling of Biden’s State of the Union doesn’t quite match the hype What’s also true is that State of the Union speeches almost always receive strongly favorable views, in part because viewership tends to draw disproportionately from their allies. The 65 percent who had a positive view of the speech was actually lower than any such speech CNN has polled in the past quarter-century — the previous low being Donald Trump’s 2018 address (70 percent)… The CNN sample was 36 percent Democratic and 30 percent Republican… https://www.washingtonpost.com/politics/2024/03/08/biden-state-of-the-union-polling/ @RNCResearch: Biden, dazed and confused, shuffles out of the White House — late for his own State of the Union. https://twitter.com/RNCResearch/status/1765918124719632553 @charliekirk11: Running 20+ minutes late, Joe Biden has just departed the White House for the Capitol, telling a staffer “Don’t jump. I need you.” (Why does Joe keep iterating this inane remark/) @paulsperry_: With tonight’s State of the Union, the Biden campaign is launching what it believes is their secret weapon to overcome all of Biden’s negatives: demagoguing abortion. Jill will host Kate Cox and Latorya Beasley in her box as Joe scaremongers about GOP banning abortion. Biden began his SOTU Speech by demanding more money for Ukraine; rebuking Putin; calling Trump a Putin stooge; and equating the January 6 protest to the US Civil War. But moments later, when inveighing against drug prices, Joe made this faux pas about buying pharmaceuticals in other countries: @RNCResearch: BIDEN: “I’m gonna get in trouble for saying this, but anybody wanna get in Air Force One with me and fly to Toronto, Berlin, Moscow… I mean, excuse me…” https://t.co/HfH4mQhp1I @NoahPollak: What chutzpah and dishonesty for Biden to praise Reagan’s “tear down this wall” speech. At the time he condemned Reagan for dangerously provoking the Soviets. @ABC: Pres. Biden in his SOTU address: “If anybody in this room thinks Putin will stop at Ukraine, I assure he will not. Ukraine can stop Putin if we stand with Ukraine and provide the weapons that it needs to defend itself.” https://t.co/khhzr1nbir Divisive:’ Biden substitutes fiery campaign speech attacking Trump, justices for State of the Union https://justthenews.com/government/congress/biden-substitutes-fiery-campaign-speech-against-trump-state-union Biden (Unprecedently) scolds the Supreme Court to their faces for overturning Roe v. Wade: President, 81, tells justices ‘with all due respect women are not without power’ in pointed message at his State of the Union https://t.co/ys4WlKhsms @DanaPerino: “This was a polarizing, divisive speech, and it was meant to be… it was a base speech for the far left….” https://t.co/jHmUly2TDI “That was possibly the darkest and most un-American speech ever given by an American president.” — Tucker Carlson https://t.co/WSv4LOqiUM @AriFleischer: If Trump gave a partisan State of the Union like this, MSNBC and CNN would have cut away from live coverage… Biden is just off. His tone, his speed of delivery, his loud punchy way of speaking, is really weird. Biden sounds like an elderly man arguing with his family because they’re trying to convince him he shouldn’t drive. He yells. He raises his voice. He mumbles his words. That’s what we’re watching tonight. CNN’s John King: “This is the 36th of these for me … Never heard one so political. Never heard one that is such a campaign speech.” https://t.co/C7g8bg6zo9 Biden’s SOTU blasted as ‘nakedly partisan’ campaign speech: ‘Utter disgrace’ https://t.co/uDMbSkgGpn @jsolomonReports: I’ve covered three plus decades of State of Union addresses as a journalist. This wasn’t a SOTU, it was a campaign speech that neglected a vision for America in favor of selling a division of America for political gain. The worst State of the Union in history – A speech that will go down in infamy There was no such respectability to be found in Joe Biden’s State of the Union speech last night. It is without question the most divisive, vindictive and downright vile expression of American partisanship ever given from that honored stage. It marks a legacy-defining moment eradicating forever the idea of Biden as the deal maker, defender of norms and champion of some vague idea of bipartisan unity — this was Biden unhinged, spewing invective at half the country. He lied about them. He called them racists and bigots. And he used the most prominent speech he will give this year to promise even more division and vengeance against his foes. Biden even went so far as to attack, to their faces, the Supreme Court that has endured assassination attempts, harassment of their families and near constant illegal protests at their homes in recent years. Biden’s media friends will seek to spin this as “feisty,” “passionate” or “energetic” — but that’s not what the nation saw or will remember from this speech… All in all, this speech sounded like the talk of an angry partisan loser, bitter at not being appreciated enough, desperately in need of a nap… https://thespectator.com/newsletter/the-worst-state-of-the-union-in-history-thunderdome-03-08-2024/ Biden takes aim at Trump by saying the U.S. is rising, not China https://t.co/1W4tog5dDs Biden skirts around Trump’s name in State of the Union, mentions ‘my predecessor’ 13 times https://t.co/3wzO6Dfh7M Trump on Biden’s SOTU: “This was an angry, polarizing, and hate-filled speech. He barely mentioned Immigration, or the Worst Border in the History of the World. He will never fix Immigration, nor does he want to. He wants our Country to be flooded with Migrants. Crime will raise to levels never seen before, and it is happening very quickly!” Trump blasts Biden as ‘angry, mentally disturbed’ during SOTU address: ‘He did a terrible job’ https://t.co/3bhmquny66 CNN’s Jake Tapper: “His presentation, his enunciation, of course, is not as clear as it once was…” https://t.co/DW9CdzFuMv GOP Sen. @BasedMikeLee on Biden’s delivery: “If I keep yelling at them, maybe they won’t notice that I’ve gone bat sh*@ crazy.” @paulsperry_: When Biden rehearsed his speech for those four days at Camp David, they must have had lawn mowers, weed whackers, leaf blowers and chainsaws all going at the same time. Biden didn’t deliver that speech. He shouted it. @TheBabylonBee: Silver Alert: Lost Old Man Seen Yelling on Capitol Grounds https://buff.ly/3JSGOSl @MZHemingway: I’m legit worried that they dangerously overdosed him when they hopped him up on the goofy pills they [presumably] give him to get through big nights. He could speak half as quickly as he’s speaking and it would be too quick. This speech and delivery is so shockingly bad that it’s making anyone who is pretending to understand it, much less approve of it, look idiotic. Biden’s Handlers Really Overshot His SOTU Uppers Dosage POTUS was straight-up wired last night. Squinting, angry, and loud Teleprompter Biden will no doubt be met with rave reviews from the usual suspects for this SOTU speech. An old man yelling might not have the appeal out in the hinterlands that they think it will, however. Older people who are losing it upstairs get angry and yell a lot, too, after all. This is a limited-use strategy for Biden’s puppet masters, of course. He’s probably going to be napping until Easter… https://pjmedia.com/stephen-kruiser/2024/03/07/the-morning-briefing-n4927108 @Heminator: The media are going to spin this hard because Biden was “energetic” or whatever — but no normal who voter sat through that insane amphetamine-fueled delivery and numerous stumbles is gonna walk away reassured about his age and acuity. Biden angrily demanded that wealthy Americans ‘pay their fair share’ of taxes – while his son, Hunter, is under investigation for tax fraud! Biden: That’s why we’re launching the first-ever White House Initiative on Women’s Health Research, led by Jill [Biden].” Wise guys wondered how there could be a ‘Women’s Health Research panel’ when Democrats cannot describe what constitutes a ‘woman.’ @megbasham: Biden: “I be a winner not really..smursh, grsh hmmm.” And the Dems erupt again to distract. https://twitter.com/megbasham/status/1765938014243479705?s=02 It did seem like Democrats acted like trained seals and rose to applaud Joe when he slurred his speech. The Big Guy misnamed Laken Riley, calling her ‘Lincoln Riley,’ the USC football coach. ‘Lincoln Riley’: Biden ridiculed for appearing to flub slain Georgia student’s name https://t.co/jtMrH9ENLS Mother of murdered nursing student Laken Riley slams Biden for fumbling her name at State of the Union: ‘Pathetic’ – ‘If you are going to say her name (even when forced to do so) at least say the right name!” she insisted… https://trib.al/5XqaKb1 @SpeakerJohnson: The president is cowering to his base and showing deference to a man who deserves none. This man is an illegal immigrant who brutally murdered Laken Riley. President Biden should be apologizing to Laken’s family. What an embarrassment. Nancy Pelosi and several leftists Dem Reps expressed outrage at The Big Guy for calling Laken Riley’s killer ‘illegal.’ They are more upset with calling an illegal immigrant an ‘illegal’ that the fact that he allegedly savagely killed Laken Riley. This photo of Biden at the SOTU went viral: https://twitter.com/TheBabylonBee/status/1766126749119610994 The Big Guy set a record for lies issued during a SOTU Speech. @for_consumers: During his State of the Union address, Joe Biden bragged about supposedly funding the building and installation of 500,000 new EV chargers. The only problem? Over 2 years after allocating $7.5+ billion in taxpayer funding to do so, *not one* has been built. https://twitter.com/for_consumers/status/1766109558362063313 Speaker Mike Johnson shakes his head and grimaces next to Kamala as Biden repeats debunked claim he reduced the deficit by $1trillion and criticizes the 2017 Trump tax cuts https://t.co/YfKBipdk5l @RNCResearch: Biden claims he “cut the federal deficit by $160 billion.” https://t.co/2uKnsmaCzn @DavidAsmanfox: “I inherited an economy on the brink.” Truth: You inherited an economy growing at 6.5% with a 1.4% inflation rate. https://t.co/TYPLgrTU8Y @Brian_Riedl: President Biden claims that wealthier Americans pay lower tax rates than middle class families. Fact check: False https://t.co/NeWobjdLod @WarMachineRR: Biden Falsely Claims Consumer Confidence Is Soaring – The Conference Board’s Consumer Confidence Index and the University of Michigan’s Consumer Sentiment Index fell in February. Biden at SOTU: ‘America is safer today than when I took office’ https://t.co/HYVW2kqWH8 @RNCResearch: Biden claims he “taught the Second Amendment for 12 years!” He was paid $1 million by the University of Pennsylvania, but he never taught a single class. https://t.co/yhlFx1QG7y GOP @RepAndyBiggsAZ: Joe Biden is citing figures from the Gaza Health Ministry (30k Palestinians killed). They were found to have completely fabricated their casualty figures. @townhallcom: Steve Nikoui, father of LCpl. Kareem Nikoui, who was killed in Afghanistan during Biden’s disastrous withdrawal, has been ARRESTED for heckling Biden’s State of the Union Address. (He yelled: “Abbey Gate” and “United States Marines”) https://t.co/BIy1CiVjMN @seanmdav: The regime arrested a man whose Marine son was killed by Biden’s incompetence for the crime of reminding Biden where his son and 12 others were killed. @redsteeze: The optics appear to be that Pro-Hamas protestors get to block traffic with impunity and Gold Star parents are led away in handcuffs. @megbasham: I cannot imagine what the media reaction would be if a grieving father of a killed-in-action son would be if he were arrested after a Trump SOTU. @ClayTravis: The number one issue for all voters is the border. Joe Biden still has not mentioned one word about the border and he’s been screaming at us for over a half hour now. @townhallcom: Biden totally MALFUNCTIONS when confronted by a reporter for using the word “illegal” to refer to Laken Riley’s murderer. https://twitter.com/townhallcom/status/1766194411312984473 Biden: Frail Old Man Selling Woof Tickets – John Kass America… see an angry old man selling wolf (or ‘woof’) tickets to America, a nation that he holds in contempt… a people he thinks are too stupid to see through his crafty lies… The good people at “The Federalist” listed 30 lies in that speech… He’s lied so long –protected by the soddenly corrupt corporate media – that he can’t recognize truth… Americans know that he’s senile… First Lady Jill Biden shields him, hides him away in the basement from perceived threats… or journalists who’ll challenge him on positions and policy. So his strategy was to roar at them all, young and old, to bark at them as he lies to them. This really wasn’t a State of the Union Speech. This was his assault of on the American Chumbolones to demonstrate to the Socialists that he’s strong enough. He thinks the American people are fools, idiots, clowns, a bunch of bozos… And to cover himself, he barks and shouts to convince those of us who see him as too old for the job—almost the entire nation sees him as too old—he barked and barked like some hideously angry Grampa Simpson… to sell wolf tickets is an expression that’s about 60 years old, means to oversell yourself—to spread boasts or threats–that you can’t (or won’t) back up… “In African-American Vernacular English, to “woof” has meant to bluff or challenge since at least as far back as 1930. In fact, the phrase has been recorded as “sell woof tickets” since the 1970s.”… One leftist Joe Biden doesn’t challenge is Chinese dictator Xi Jinping, The Chinese Communist Party of which Xi is the leader has a fine relationship with Biden. And they, along with Ukrainian oligarchs, have been more than appreciative over the years, making the wallets of Biden Family Inc. plump and fat… https://johnkassnews.com/biden-selling-wolf-tickets-to-chumbolone-nation/ @NewsNation: A panel reacts to Alabama Sen. Katie Britt’s Republican rebuttal. The general consensus — the speech did not land as it should have… https://t.co/5vHhOSZddY Critics assailed and mocked Sen. Britt’s SOTU response. The palpable pandering to women made Britt’s response look like a Halmark or Lifetime Channel production. January 6 Committee Suppressed Exonerating Evidence of Trump’s Push for National Guard Cheney and her committee falsely claimed they had “no evidence” to support Trump officials’ claims the White House had communicated its desire for 10,000 National Guard troops… Deputy Chief of Staff Anthony Ornato’s first transcribed interview with the committee was conducted on January 28, 2022. In it, he told Cheney and her investigators that he overheard White House Chief of Staff Mark Meadows push Washington D.C. Mayor Muriel Bowser to request as many National Guard troops as she needed to protect the city. He also testified President Trump had suggested 10,000 would be needed to keep the peace at the public rallies and protests scheduled for January 6, 2021. Ornato also described White House frustration with Acting Secretary of Defense Christopher Miller’s slow deployment of assistance on the afternoon of January 6, 2021… “The former J6 Select Committee apparently withheld Mr. Ornato’s critical witness testimony from the American people because it contradicted their pre-determined narrative. Mr. Ornato’s testimony proves what Mr. Meadows has said all along: President Trump did in fact offer 10,000 National Guard troops to secure the U.S. Capitol, which was turned down,” said the Georgia Republican… https://thefederalist.com/2024/03/08/exclusive-liz-cheney-january-6-committee-suppressed-exonerating-evidence-of-trumps-push-for-national-guard/ Tucker Carlson: “They’re Going to STEAL the Election” – “And we know they’re going to steal the election because they’re now saying so out loud… Joe Biden can’t win in a fair election… The chief law enforcement officer of the United States government is telling you that it’s immoral, in fact racist, in fact illegal, to ask people for their IDs when they vote to verify they are who they say they are. What is that?” Carlson asked… https://vigilantnews.com/post/tucker-carlson-theyre-going-to-steal-the-election/ FDNY boss hunts down staffers who booed NY AG Letitia James, cheered for Trump at promotion ceremony https://trib.al/YAqozxT @TheBabylonBee: Oscars Ratings Soar as Nation Watches in Hopes of Seeing Someone Slap Jimmy Kimmel https://buff.ly/48Pv23W @TheBabylonBee: Christopher Nolan Hurriedly Adds Drag Queen to ‘Oppenheimer’ to Shore Up Oscar Vote https://buff.ly/48NBHLZ @elonmusk: Winning an Oscar now just means you were the best Quisling | |
GREG HUNTER INTERVIEWING JOHN RUBINO
Usawatchdog.com/eventual-financial-death-spiral-now-imminent-john-rubino/
Eventual Financial Death Spiral Now Imminent – John Rubino
By Greg Hunter On March 9, 2024 In Market Analysis42 Comments
By Greg Hunter’s USAWatchdog.com (Saturday Night Post)
Analyst and financial writer John Rubino warned nearly four months ago of a “U.S. Financial Death Spiral.” This past week, Bank of America caught up to Rubino and issued a warning about a “US dollar death spiral” because the federal government was going deeper in the red by creating “$1 trillion in new debt every 100 days.” Maybe this is why gold and Bitcoin have been hitting new all-time highs day after day. Rubino says, “When a building was worth $200 million and someone sells it for $48 million, that means there is a loss that someone has to take. Those losses are mostly on the books of regional and local banks. So, they are in big trouble financially. . . . You will get these massive bank runs that the government will have to step in and bail out. This is one of many things that will happen in the not-so-distant future. This will impact government finances in a scary way that will send people’s attention to the currency. In other words, if we have another $3 trillion bailout on top of everything else that’s going on . . .what is that going to do to the dollar? . . . . Currencies are being inflated away with all these bailouts, deficits, wars and all these things that are going on that are bad for the currency. So, people start selling government bonds, which push up interest rates and blows up even more bad real estate and paper . . . until you get a debt spiral, a real live financial death spiral than cannot be fixed. . . . I was talking to a real estate guy the other day, and he said this is not just inevitable, it is imminent. It is happening now. It is happening quickly, and it is going to hit the headlines. . . . In this case, what is inevitable in commercial real estate is also looking imminent.”
Rubino goes on to say, “The numbers are not lost on the guys running the big investment banks and the big media outlets. They are sitting around, and they are thinking we have to say something about this because this is obviously a very big financial story. So, we have to report on it. Finally, the numbers have gotten big enough with the deficits and government interest costs . . . that this is a story that cannot be ignored anymore. It’s got to be pretty far along before they reach that point because they really don’t want to report on this. To report on this is seen as a betrayal of the establishment, and they are part of the establishment. They are playing on that team. The debt numbers are finally big enough that they can’t be ignored anymore, and that implies that we are getting near the end of the road.”
Gold and Bitcoin both hit all-time new highs this past week. What does it mean? Rubino explains, “This means the market is speaking, and it’s concluding these currencies have a problem. Capital is flowing into the alternatives. It’s flowing into the old kind of money that has held up for thousands of years like gold or the possible new kind of money like Bitcoin that has come on relatively recently (when compared to gold). . . . In either case, it is a vote against the dollar. When gold and Bitcoin are both spiking, it is a big vote of no confidence in the dollar.”
In closing, Rubino says, “There is no way to know how this plays out in the next six months, but this should terrify the central banks. By the way, the big central banks are behaving as if they are terrified because they are aggressively buying gold. They have bought about 1,000 tons of gold in each of the last two years. 1,000 tons is a fourth of the gold that comes out of all the gold mines in a given year. So, that is a major purchase, and they take the gold off the market. They don’t turn around and sell it. They put it away as a reserve asset. The gold is effectively disappearing. This makes the market even tighter, and this is also part of the reason why gold is going up.”
There is much more in the 42-minute interview.
Join Greg Hunter as he goes One-on-One with financial writer John Rubino and his new enterprise called Rubino.Substack.com for 3.9.24.
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After the Interview:
John Rubino is a prolific financial writer, and you can see some of his work for free at Rubino.Substack.com. There is even more cutting-edge original information and analysis if you subscribe.
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