MARCH 12B GOLD CLOSED DOWN $21.15 TO $2161.00/SILVER CLOSED DOWN $0.31 TO $24.17/PLATINUM CLOSED DOWN $15.25 TO $924.85 WHILE PALLADIUM CLOSED UP $8.35 TO $1041.30//GOLD COMMENTARY TONIGHT FROM PETER SCHIFF//ALASDAIR MACLEOD ON THE SILVER SITUATION//ISRAEL VS HAMAS UPDATES/ISRAEL VS HEZBOLLAH UPDATES//WESTBANK//UKRAINE VS RUSSIA//COVID UPDATES//VACINE INJURIES//DR MARK CRISPIN MILLER/DR PAUL ALEXANDER //SLAY NEWS ETC//USA ECONOMIC NEWS: BIDEN BUDGET HAS NO CHANCE OF PASSING//TURMOIL IN PHILADELPHIA///RELEASE OF CPI CAUSES THE CROOKS TO MANIPULATE OUR PRECIOUS METALS//SWAMP STORIES FOR YOU TONIGHT//
Bitcoin: afternoon price: $71,470 DOWN 497 dollars
Platinum price closing DOWN $15.25 AT $924.85
Palladium price; UP 8.35 AT $1041.30
END
SHANGHAI GOLD PREMIUM 22 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.
092 C DEUTSCHE BANK 3 132 C SG AMERICAS 9 323 C HSBC 52 363 H WELLS FARGO SEC 332 365 H MAREX CAPITAL M 3 435 H SCOTIA CAPITAL 106 657 C MORGAN STANLEY 2 661 C JP MORGAN 105 659 737 C ADVANTAGE 83 33 905 C ADM 7
TOTAL: 697 697
JPMorgan stopped 659/697 contracts.
FOR MARCH/2024
GOLD: NUMBER OF NOTICES FILED FOR MAR/2024. CONTRACT: 697 NOTICES FOR 69,700 OZ or 2.1679 TONNES
total notices so far: 4623 contracts for 462,300 Oz (14.379 tonnes)
FOR MARCH:
SILVER NOTICES: 95 NOTICE(S) FILED FOR 475,000 OZ/
total number of notices filed so far this month : 5080 for 25,400,000 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 DOWN $21.15:
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ :
UNAVAILABLE TODAY
INVENTORY RESTS AT 815.13 TONNES
SLV//
WITH NO SILVER AROUND AND SILVER DOWN 31 CENTS AT THE SLV//
HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A SMALL ADDITION OF 0.549 MILLION OZ FROM THE SLV….
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 418.872 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY A HUGE SIZED 2767 CONTRACTS TO 145,248 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS STRONG SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR SMALL GAIN IN PRICE OF $0.11 IN SILVER PRICING AT THE COMEX ON MONDAY. WE HAD ZERO LONG LIQUIDATION AT THE COMEX SESSION WITH AGAIN MAJOR SHORT COVERING DESPITE THE SMALL PRICE GAIN. WE HAD A HUGE 1647 T.A.S ISSUANCE AND THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY. PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON MONDAY NIGHT: 1647 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.
WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.11),AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A MEGA GIGANTIC SIZED GAIN OF 3067 CONTRACTS ON OUR TWO EXCHANGES. IT OCCURRED WITH A GAIN IN PRICE OF 11 CENTS.
WE MUST HAVE HAD:
A FAIR SIZED 300 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 0.695 MILLION OZ QUEUE JUMP //NEW TOTALS INCREASES TO : 26.775 MILLION OZ
//NEW STANDING FOR SILVER IS THUS 26.755 MILLION OZ
WE HAD:
/ GIGANTIC SIZED COMEX OI GAIN/ FAIR SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1647 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED A HUGE XXXX 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 8 days, total 12,61O contracts: OR 63.050 MILLION OZ (1576 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 63.050 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: 63.055 MILLION OZ//WILL BE MUCH LARGER THIS MONTH//MAYBE CLOSE TO A RECORD ISSUANCE
RESULT: WE HAD A HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2767 CONTRACTS DESPITE OUR TINY GAININ PRICE OF SILVER PRICING AT THE COMEX//MONDAY.,. THE CME NOTIFIED US THAT WE HAD A FAIR EFP ISSUANCE CONTRACTS: 300 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 0.695 MILLION OZ QUEUE JUMP
//NEW TOTAL STANDING RISES TO 26.775 MILLION OZ
WE HAVE A HUGE GAIN OF 3067 OI CONTRACTS ON THE TWO EXCHANGES WITH THE TINY GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 1647 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS ( EVEN WITH THE PRICE OF SILVER FALLING) THE NEW TAS ISSUANCE MONDAY NIGHT (1647) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .
WE HAD 95 NOTICE(S) FILED TODAY FOR 0.475 MILLION OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A GOOD SIZED 4645 CONTRACTS TO 529,474 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 583 CONTRACTS
WE HAD A FAIR SIZED DECREASE IN COMEX OI ( 4645 CONTRACTS) DESPITE OUR $3.20 GAIN IN PRICE//MONDAY. 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 $3.20 GAIN IN PRICE WITH RESPECT TO MONDAY’S TRADING. WE HAD A FAIR SIZED LOSS OF 1777 OI CONTRACTS (5.527) PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 2868CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 529,474
IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1777 CONTRACTS WITH 4645 CONTRACTS DECREASED AT THE COMEX// AND A STRONG SIZED 2868 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 1777 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): MEGA MEGA HUMONGOUS SIZED 44,251 CONTRACTS, THE SECOND HIGHEST RECORDED ISSUANCE EVER, FOLLOWING FRIDAY’S RECORD BREAKING ISSUANCE OF 54,520.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2868 CONTRACTS) ACCOMPANYING THE GOOD SIZED LOSS IN COMEX OI (4645) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 1777 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 1.965 TONNES/NEW STANDING ADVANCES TO 15.166 TONNES.
/ 3) LITTLE LONG LIQUIDATION // 4) GOOD GIGANTIC SIZED COMEX OPEN INTEREST LOSS/ 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: MEGA HUMONGOUS T.A.S. ISSUANCE: 44,251CONTRACTS//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: 48,362 CONTRACTS OR 4,836,200OZ OR 150.426 TONNES IN 8TRADING DAY(S) AND THUS AVERAGING: 6,045 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 7TRADING DAY(S) IN TONNES 150.426 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 150.426/3550 x 100% TONNES 4.00% OF GLOBAL ANNUAL PRODUCTION
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: 150.426 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 ROSE BY A GIGANTIC SIZED 2767 CONTRACTS OI TO 145,248 AND CLOSER TO THE COMEX HIGH RECORD //244,710(SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 6 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 300 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MAY 300 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 300 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 2767 CONTRACTS AND ADD TO THE 300 E.FP. ISSUED
WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 3067CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 15,335MILLION OZ
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
TUESDAY MORNING/MONDAY NIGHT
SHANGHAI CLOSED DOWN 12.52 PTS OR 0.41% //Hang Seng CLOSED UP 505.93 PTS OR 3.05% / Nikkei CLOSED DOWN 22.98 PTS OR 0.06%//Australia’s all ordinaries CLOSED UP 0.12% /Chinese yuan (ONSHORE) closed UP 7.1760 //OFFSHORE CHINESE YUAN CLOSED UP TO 7.1789 /Oil UP TO 77.88 dollars per barrel for WTI and BRENT UP AT 82.13/ Stocks in Europe OPENED ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY GOOD SIZED 4645 CONTRACTS TO 529474 DESPITE OUR SMALL GAIN IN PRICE OF $3.20 WITH RESPECT TO MONDAY 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 2868 EFP CONTRACTS WERE ISSUED: : APRIL 2868 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 2868CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 1777 CONTRACTS IN THAT 2868 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A GOOD SIZED LOSS OF 4645 COMEX CONTRACTS..AND THIS LOSS ON OUR TWO EXCHANGES HAPPENED DESPITE OUR GAIN IN PRICE OF $3.20 MONDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR MONDAY NIGHT WAS A MEGA MEGA HUMONGOUS SIZED 44,251 CONTRACTS, SECOND HIGHEST RECORDED ISSUANCE BEATING FRIDAY’S ISSUE
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 (15.166 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
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: 15.166 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT GAINED $3.20 //// AND WERE SUCCESSFUL IN KNOCKING A FEW SPECULATOR LONGS AS WE HAD A FAIR SIZED LOSS OF1777 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH OUR HIGHER PRICE. WE HAD TO HAVE HAD ANOTHER EPISODE OF STRONG SHORT COVERING. WE HAD A STRONG T.A.S. LIQUIDATION ON THE FRONT END OF MONDAY’S TRADING . THE T.A.S. ISSUED ON MONDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. THE HIGH T.A.S. ISSUANCE IS MET TO CONTROL THE PRICE OF GOLD
WE HAVE LOST A TOTAL OI OF 5.527 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 63,200 OZ QUEUE JUMP//NEW STANDING INCREASES TO 15.166 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $3.20
WE HAD -REMOVED 583 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)
NET LOSS ON THE TWO EXCHANGES 1194 CONTRACTS OR 119,400 OZ OR 3.713 TONNES. estimated volume today 331,590 strong
Total monthly oz gold served (contracts) so far this month
4623 notices 462,300 oz 14.379 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month
x
0 dealer deposits:
total dealer deposits: nil oz
total customer withdrawals: 2
i) Out of JPMorgan 300.03 oz
ii) Out of Manfra: 1978.463 oz
total customer withdrawal: 2278.493 oz
we had 0 customer deposit
total deposit NIL oz
Adjustments: 1
i) Brinks/ customer to customer: 300.47 oz
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR MAR.
For the front month of MARCH we have an oi of 950 contracts having LOST 935 contracts. We had 1567 contracts filed upon on Monday, so we gained a monstrous 632 contracts or an additional 63,200 oz of gold(1.965 tonnes) will stand at the comex in this non active delivery month of March
APRIL LOST 16,718 CONTRACTS FALLING TO 298,803.
MAY EARNED 137 CONTRACTS TO STAND AT 544
JUNE INCREASED ITS OI BY 11,091 CONTRACTS UP TO 175,456 CONTRACTS.
We had 697 contracts filed for today representing 69,700 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer account and 105 notices were issued from their client or customer account. The total of all issuance by all participants equate to 697 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 651 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 (4623 x 100 oz ), to which we add the difference between the open interest for the front month of MARCH. (950 CONTRACTS) minus the number of notices served upon today 697 x 100 oz per contract equals 487,600 OZ OR 15.166 TONNES
thus the INITIAL standings for gold for the MARCH. contract month: No of notices filed so far (4623) x 100 oz + (950) {OI for the front month} minus the number of notices served upon today (697) x 100 oz which equals 487,600 oz (15.166 TONNES)
TOTAL COMEX GOLD STANDING FOR MARCH: 15.166 TONNES WHICH IS HUGE FOR A NON ACTIVE DELIVERY MONTH IN THE CALENDAR.
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,887,532.221 OZ
TOTAL REGISTERED GOLD 7,919,896,045 (246,34 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9967,636.176 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,586,791 oz (REG GOLD- PLEDGED GOLD) 204.87 tonnes/dropping like a stone
END
SILVER/COMEX
MARCH 12/INITIAL
//2024// THE MARCH 2024 SILVER CONTRACT//INITIAL
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
306,885,660 oz
cnt
.
Deposits to the Dealer Inventory
nil OZ
Deposits to the Customer Inventory
1,780,323,273 oz Asahi CNT HSBC
No of oz served today (contracts)
95 CONTRACT(S) (475,000 OZ)
No of oz to be served (notices)
275 contracts (1.375 MILLION oz)
Total monthly oz silver served (contracts)
5080 Contracts (25.400 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 3 deposits customer account:
i) Into Asahi 602,542.428
ii) Into CNT 579,723.420 oz
iii) Into HSBC 578,057.403 oz
total customer deposits 1,780,323.273 oz
JPMorgan has a total silver weight: 129.806 million oz/286.496 million or 45.30%
adjustment: 0
Comex withdrawals: 1
i) Out of CNT: 306,885.660 oz
total withdrawal: 306,885.660 oz
TOTAL REGISTERED SILVER: 48.213MILLION OZ//.TOTAL REG + ELIGIBLE. 286.486million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:
silver open interest data:
FRONT MONTH OF MARCH /2023 OI: 370 CONTRACTS HAVING GAINED 78 CONTRACT(S).
WE HAD 61 NOTICES FILED ON MONDAY SO GAINED 179 CONTRACTS OR AN ADDITIONAL 695,000 OZ WILL STAND AT THE COMEX
APRIL SAW A LOSS OF 47 CONTRACTS TO STAND AT 793
MAY SAW A GAIN OF 1211 CONTRACTS UP TO 114,567.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 95 for 0.475 MILLION oz
Comex volumes// est. volume today 76,973 good
Comex volume: confirmed yesterday 55,216 fair
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 5080 x 5,000 oz = 25,400,000 oz
to which we add the difference between the open interest for the front month of MARCH. (370) and the number of notices served upon today 95 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the MARCH/2024 contract month: 5080 (notices served so far) x 5000 oz + OI for the front month of MARCH. (370) – number of notices served upon today (95 )x 500 oz of silver standing for the MARCH contract month equates to 26.775 MILLION OZ.
New total standing: 26.775 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 12 WITH GOLD DOWN $21.15 TODAY; XXXX CHANGES IN GOLD INVENTORY AT THE GLD:
NOT AVAILABLE///LAST VALUE 815.13 TONNES
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 12/WITH SILVER DOWN 31 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A SMALL WITHDRAWAL OF 0.549 MILLION OZ OF SILVER INTO THE SLV//// : SLV INVENTORY RESTS AT 418.872 MILLION OZ…
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 418.872 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1:Peter Schiff/Mike Maharrey
Peter Schiff: Gold Is The Canary In The Economic Coal-Mine
This weekend, Todd Sachs interviewed Peter on the state of the economy. They discuss the parallels between now and the 2007-2008 housing crisis, the role of economic sentiment in voters’ opinions, and why foreign central banks are losing faith in the dollar.
Peter opens with the fact that the United States is probably in a recession already, even though the government statistics say otherwise:
“We’re in a recession. I don’t care what the statistics are showing, and they’re very likely to be revised in the future to confirm that we’re in a recession right now. I mean that’s what happened with the Great Recession, which started in December of ‘07. But for a year the government gave out fake economic data, and then in December of ‘08, they came back and said, ‘Oh, by the way, we’ve been in a recession for an entire year. You can throw away all the data we gave you because it was wrong.’”
“When they poll the voters, where Biden scores lowest is on the economy! … The voters are saying this despite— as you said— being inundated every day with regurgitated propaganda from the mainstream media about how great the economy is. So imagine if the media told the truth!
…You’ve got to trust your eyes, not the government. I’m not going to walk outside in the rain when I know it’s raining just because some government weatherman is trying to convince me it’s sunny.”
America isn’t alone. Other countries around the world are already reaping the consequences of poor policy exercised for the last decade:
“All the countries are experiencing the negative consequences of the same monetary and fiscal policy mistakes. We all made them, especially during COVID. But everybody had interest rates too low. I mean, in Europe and Japan they were negative! .. They didn’t even stop at zero, they went negative! And all these governments ran large deficits, so everybody is paying the price.”
“There’s an old expression: you don’t bite the hand that feeds you. We were being fed by nations that were holding onto dollars as their reserves, and then we punished Russia for doing what we wanted them to do, which was hold large US dollar reserves instead of spending those dollars and having them bid up US prices. And they invested those dollars in US treasuries. … We punished the Russians for doing that, and when we did that we sent a clear signal to the rest of the world: ‘You could be next. If you do anything that the United States does not like, this is what’s going to happen to you.’”
This is exactly why gold’s price has risen recently. Foreign central banks losing faith in the dollar are buying more and more gold, and the retail sector is unwittingly dumping their gold when they should be buying more:
“People are dumping gold stocks while gold prices are soaring! That’s how clueless people are. They’ve been so dumbed-down by the mainstream media that they don’t know what’s happening, and they’re not doing the proper things financially. … The gold price is not just some other commodity. If gold is really going up, that is the canary in the coal mine. You better get the hell out of that mine, because something bad is going to happen! And the Fed is— of course— ignoring most of these warning signs, and most investors are too.”
Peter wraps up the interview with a warning:
“If the Fed goes back to buying mortgages, then inflation is going to go even higher. … The credit is going to dry up if rates aren’t allowed to rise to a level that would compensate the lender for what they’re losing to inflation. But look, this is a disaster that the government has created, and it will blame it on everybody else and not accept responsibility. … It’s going to be worse than anything we’ve lived through in either the Great Recession or the COVID times.”
2.Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens/ SIMON WHITE..//
3. CHRIS POWELL//
VERY IMPORTANT COMMENTARY
Alasdair Macleod: Is silver the new nickel?
Submitted by admin on Mon, 2024-03-11 12:56 Section: Daily Dispatches
12:54p ET Monday, March 11, 2024
Dear Friend of GATA and Gold (and Silver):
In his private letter on Sunday, economist and market analyst Alasdair Macleod, GoldMoney’s research director, examined the structure of the silver market and outlined more motives, opportunities, and entities with such motives and opportunities for manipulating the market to keep the metal’s price down.
Macleod has kindly given GATA permission to share his Sunday letter with you on that chance that you may want to consider subscribing to it, as we do.
Macleod’s Sunday’s letter, headlined “Is Silver the New Nickel?,” is posted in PDF format at GATA’s internet site here —
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
END
Jim Rickards: Gold regains the Midas touch
Submitted by admin on Mon, 2024-03-11 19:45 Section: Daily Dispatches
By James G. Rickards Daily Reckoning, Baltimore Monday, March 11, 2024
After two years of trading in a 20% range between $1,600 and $2,000 per ounce, gold finally broke out to the upside, closing at a new all-time high of $2,126 per ounce on March 4.
Better yet, if you’re a gold investor, gold has held its ground around $2,100 per ounce since breaking that ceiling. (Gold is trading at around $2,187 today.)
The price is volatile, but gold broke even higher on March 5 when it hit $2,140 on an intra-day basis.
Before getting too euphoric, gold investors should recall that the $800 per ounce record set in January 1980 during borderline hyperinflation would be $3,200 per ounce in today’s dollars if adjusted for inflation.
That can be a splash of cold water in the face. On the other hand, it’s highly encouraging. If gold is in a new bull market, $3,200 per ounce looks more like a price target than an insurmountable hurdle. …
Submitted by admin on Mon, 2024-03-11 20:07 Section: Daily Dispatches
8:17p ET Monday, March 11, 2024
Dear GATA:
I think a tumultuous showdown is coming with Donald Trump, the Republican Congress, and the Trump cult following. They won’t accept another Trump loss and Trump himself realizes that his loss will mean jail time for him.
November and beyond could usher in unprecedented political instability in the United States and create not just dollar instability but a run on the dollar. Foreign central banks are down to $3.4 trillion in U.S. Treasuries, and overseas investors hold $6.68 trillion in U.S. Treasury notes and bonds. Moreover, 60% of central bank foreign exchange reserves are in dollars.
I think the gold price rally with new daily highs in the dollar and other currencies may be a matter of gold discounting U.S. political instability ahead and the consequences to the dollar. That scenario would create a reason to own gold that few people living today have experienced.
Bitcoin, thought by some to be alternative money, is hitting new highs too and is perhaps also discounting huge political instability.
Your thoughts?
Best wishes,
B.D.
*
Dear B.D.:
Since you asked and for whatever it may be worth, I think that if fundamentals and geopolitics mattered much, gold and silver would have gone to the moon years ago. In my view nothing matters much more than central bank intervention in the monetary metals and currency markets.
I think the main determinant of “market” prices generally will be simply whether and when the monetary metals central banks are prepared to lose in support of the dollar and their own currencies run out, just as gold ran out in 1968, collapsing the London Gold Pool:
Now that a big faction of central banks is moving away from the dollar and into gold, maybe we’ll live to see some democratic change in the world financial system. Some independent financial journalism with integrity could hasten the day, but that’s unlikely to happen. It hasn’t happened yet and we have been waiting for a long time.
For me this remake of a skit from the 1960s stage show “Beyond the Fringe” says it all:
As is said therein, “We must get a winner one day.” It could be tomorrow but don’t hold your breath.
Thanks for writing.
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
…
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
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGSTUESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP 7.1760
OFFSHORE YUAN: UP TO 7.1789
SHANGHAI CLOSED DOWN 12.52 PPTS OR 0.41%
HANG SENG CLOSED UP 505.93 PTS OR 3.05%
2. Nikkei closed DOWN 22.98 PTS OR 0.06%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX DOWN TO 102.45 EURO RISES TO 1.0934 UP 3 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +.760 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 147.47/JAPANESE YEN NOW FALLING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: 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 UP for WTI and UP FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.2930***/Italian 10 Yr bond yield UP to 3.584* /SPAIN 10 YR BOND YIELD UP TO 3.103…**
3i Greek 10 year bond yield UP TO 3.148
3j Gold at $2169.60 silver at: 24.39 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 47 /100 roubles/dollar; ROUBLE AT 91.08//
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 147.47// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.760% 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 0.8762 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9581 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.
USA 10 YR BOND YIELD: 4.090 DOWN 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.246 DOWN 3 BASIS PTS/
USA 2 YR BOND YIELD: 4.547 UP 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 32.05…(TURKEY SET TO BLOW UP FINANCIALLY)
GREAT BRITAIN/10 YEAR YIELD: DOWN 5 BASIS PTS AT 3.945
end
2.a Overnight: Newsquawk and Zero hedge
Futures, Global Markets Rise Ahead Of Key CPI Report
TUESDAY, MAR 12, 2024 – 08:04 AM
US equity futures rose with European and Asian market ahead of the closely watched February CPI data which could have an impact on the decision and messaging delivered by the Fed next week. As of 7:50am, S&P futures are up 0.2% while Nasdaq futures add 0.5% as TMT sees support from Semis (NVDA +1.9%) and the balance of Mag7 names are up 50bp – 95bps pre-market. Treasuries also edge higher, with US 10-year yields falling 1bps to 4.09%. Gilts outperform, boosted by soft UK wage data and solid auction demand. UK 10-year yields fall 7bps to 3.90%. European stocks rise 0.4%, led by gains in mining and bank shares. The yen is the weakest of the G-10 currencies, falling 0.4% versus the greenback after BOJ Governor Ueda noted pockets of weakness in consumption. The Bloomberg Dollar Spot Index is little changed. Oil prices climb, with WTI rising 0.6% to trade near $78.40. Spot gold falls 0.3%.
In premarket trading, Oracle shares rose 14% after the infrastructure-software company reported third-quarter results that beat expectations on key metrics. It also said that “demand for our Gen2 AI infrastructure substantially exceeds supply.” US-listed Chinese stocks trade broadly higher in Tuesday’s premarket session as a rebound from a February low gathers steam. Here are some other notable premarket movers:
Acadia Pharmaceuticals shares slump after the biopharmaceutical company said it does not intend to conduct any more trials for pimavanserin after a Phase 3 study in schizophrenia failed to meet its primary endpoint.
Porsche AG flagged weaker returns this year with a record four new model launches weighing on sales and profit. Operating margin is set to come in between 15% to 17%, weaker than analyst expectations and below the company’s mid-term goals.
Asana (ASAN US) shares fall 2.9% after the application software company reported its fourth-quarter results. While revenue was better than expected, analysts flagged some causes for concern.
Carvana (CVNA US) rose 3.9% as Jefferies raised the recommendation on the stock to hold from underperform. The broker says the online used-car dealer’s “operational adjustments may have driven sustainable improvements to unit economics.
As discussed in our CPI preview (full note here), CPI is likely to accelerate, while the core gauge should slow slightly, according to Bloomberg Economics. A monthly rate of 0.3% or lower would be seen as a positive catalyst, according to Goldman.
“Today is another CPI day, we’ll have a lot of volatility around the data,” Claudia Panseri, UBS Global Wealth Management’s chief investment officer for France, said in an interview with Bloomberg TV. “What is important is the market has normalized expectations about interest rate cuts. We still expect inflation coming down, we still expect that the Fed cuts its rate in June.”
“Ultimately, we don’t expect the February CPI report to provide clear enough evidence of disinflation to boost the Fed’s confidence to cut rates,” Bloomberg economists Anna Wong and Stuart Paul wrote in a note. “However, they could have enough confidence as soon as May.”
The options market is more concerned about a big S&P 500 move after the inflation report than it is about the Fed’s interest rate decision next week, according to Citigroup Inc. Traders are hedging for moves of 0.9% in either direction, the biggest implied shift ahead of a consumer price index report since April 2023.
Elsewhere, the yen weakened for the first time in six days after Bank of Japan Governor Kazuo Ueda pointed to some weakness in consumption of nondurable goods, while also signaling the central bank remains on track to end its negative-interest-rate policy. The BOJ makes it next policy decision on March 19. Japan’s 10-year bond yield climbed to the highest level in three months following a Jiji report that said the BOJ will end negative interest rates at next week’s meeting if wage data comes out strong.
European stocks rise 0.4%, led by gains in mining and bank shares. Banks and basic resources are the best-performing sectors, while utilities lag. Here are some notable premarket movers:
Wacker Chemie rises as much as 9.5%, the most since May, as the German chemicals company forecast first-quarter earnings above estimates, and issued full-year guidance that Baader analysts described as “better than feared.”
Porsche shares gain as much as 3.4%, erasing earlier losses as Stifel says the German luxury carmaker’s fourth quarter earnings and cash flow “look good.” While analysts flag the disappointing 2024 outlook and see further consensus downgrades, Bernstein sees more opportunities being highlighted in the second half of the year and 2025.
Synthomer shares jump as much as 27% after the British chemicals company signaled a “cautiously encouraging” start to this year’s trading, and said it expects earnings progress in 2024 — whether or not the macroeconomic backdrop improves.
TP ICAP rises as much as 14% after announcing a new buyback after reporting full-year results boosted by record growth in its energy and commodities arm.
Medartis shares soar as much as 9.9% after the Swiss orthopedic company’s sales beat estimates and it reported positive operating cash flow.
PolyPeptide shares rise as much as 6.9% after the Swiss biotech firm reported sales that beat estimates and said it had signed three new large contracts in 2023. ZKB said the figures are good overall, but noted that the company is still in a transitional phase.
Leonardo shares jumped as much as 6.8% in Milan after the Italian tech company announced a 2024-2028 plan that sees an increase in profitability and dividend.
GEA Group rises as much as 3.1% after RBC double-upgrades to outperform from underperform, saying the farm machinery company’s shares look cheap and offer significant re-rating potential.
Sensirion shares fall as much as 13% after the sensor maker reported results which fell short of expectations due to muted demand and customers holding high levels of inventory. Analysts said that the Swiss firm’s 2023 earnings were weak, blaming an impact from currency movements and investments.
UK Pet Stocks slide after the UK Competition and Markets Authority said it provisionally decided to launch a formal investigation into the veterinary market. Jefferies expects the outcome of the investigation to be largely limited to transparency measures. Meanwhile, Liberum views Pets at Home as “relatively well positioned” in light of the regulator’s concerns, though sees this as “not great news” for CVS Group.
Persimmon shares slide as much as 4.4% to a three-month low, with analysts saying that the UK homebuilder’s 2024 outlook was cautious as the company flagged an uncertain trading environment amid high interest rates and an upcoming UK general election. While Persimmon has already given a trading update earlier in the year, analysts were hoping for stronger guidance on margins in particular.
Domino’s shares decline as much as 12% after the company reported full-year like-for-like sales that Shore Capital said were softer than expected. Meanwhile, Jefferies noted commentary on the company expecting growth to be lower in the first quarter due to holding back on marketing spend.
Earlier in the session, Asia-Pac stocks traded mixed following the tentative mood stateside and as participants await US CPI data.
Hang Seng and Shanghai Comp. diverged with the former boosted by continued tech strength and as property developers showed resilience including Vanke despite being cut to junk by Moody’s, while the mainland was pressured by lingering headwinds including US-China frictions and economic concerns.
Nikkei 225 slipped at the open after firmer-than-expected PPI data and the ongoing hawkish BoJ-related speculation, but then clawed back the majority of the losses after BoJ Governor Ueda refrained from any major hawkish commentary.
ASX 200 notched slight gains but with upside capped by a lack of macro drivers and mixed business surveys.
In FX, the Bloomberg Dollar Spot Index is little changed; the yen is the weakest of the G-10 currencies, falling 0.4% versus the greenback after BOJ Governor Ueda noted pockets of weakness in consumption. Japanese OIS market is pricing about a 76% chance of a March rate hike. The yen had been stronger earlier in the session after Jiji reported that negative rates are seen ending if the first result of wage increases by businesses that the Japanese Trade Union Confederation, (Rengo), will provide on Friday “significantly” exceeds last year’s 3.8%. “We see the BOJ exiting the negative-interest-rate policy in April on the belief that the BOJ might want to digest more data,” strategists at Malayan Banking Bhd led by Saktiandi Supaat wrote in a research note.
In rates, treasuries edged higher, with US 10-year yields falling 1bps to 4.09%. Gilts outperform, boosted by soft UK wage data and solid auction demand. UK 10-year yields fall 7bps to 3.90%. gilts rallied after a rise in the UK unemployment rate and easing wage growth added to the view that the Bank of England may start cutting interest rates in coming months. Japan’s 10-year bond yield climbed to the highest level in three months following a Jiji report that said the BOJ will end negative interest rates at next week’s meeting if wage data comes out strong.
In commodities, oil edged higher as traders awaited OPEC’s monthly report and industry figures on US stockpiles. Gold eased from a record high.
Bitcoin held just above $72,000 after surpassing that level for the first time on Monday, with Ethereum also lower but remains above USD 4k.
Looking to the day ahead now, the main highlight will be the US CPI release for February. Other US releases include the NFIB’s small business optimism index for February, and the monthly budget statement for February. In the UK, there’s also the monthly labour market data. Central bank speakers include the ECB’s Holzmann and the BoE’s Mann. Lastly, there’s also a 10yr US Treasury auction.
Market Snapshot
S&P 500 futures up 0.2% to 5,135.25
MXAP up 0.3% to 176.85
MXAPJ up 1.0% to 541.76
Nikkei little changed at 38,797.51
Topix down 0.4% to 2,657.24
Hang Seng Index up 3.1% to 17,093.50
Shanghai Composite down 0.4% to 3,055.94
Sensex up 0.5% to 73,869.33
Australia S&P/ASX 200 up 0.1% to 7,712.53
Kospi up 0.8% to 2,681.81
STOXX Europe 600 up 0.3% to 503.05
German 10Y yield little changed at 2.30%
Euro little changed at $1.0924
Brent Futures up 0.5% to $82.63/bbl
Gold spot down 0.3% to $2,176.94
US Dollar Index little changed at 102.91
Top Overnight News
The BOJ is mulling a March hike but the outcome’s too close to call, people familiar said. A final decision will come after the initial tally from spring wage talks is released Friday. The yen pared declines made earlier on comments from Kazuo Ueda that highlighted weakness in consumption. BBG
Samsung and SK Hynix, the world’s leading memory chipmakers, have stopped selling used chipmaking equipment for fear of falling foul of US export controls on China and western sanctions on Russia. FT
China’s exports are surging as the country’s factories seek int’l buyers amid weak domestic demand, but the rush of products is set to raise fresh tensions between Beijing and the world’s major economies. NYT
The United Steelworkers union will ask President Joe Biden to open a trade investigation into alleged Chinese unfair economic practices in the shipbuilding and maritime logistics sectors. FT
ECB leaning toward keeping the Minimum Reserve Requirement (MMR) at the current 1% level, a positive for banks given concerns the figure could rise. BBG
UK jobs report for Jan is soft, with employment -21K (vs. the Street +5K and vs. +72K in Dec) while wage growth cools. RTRS
President Vladimir Putin has sacked the commander of Russia’s navy after it suffered a series of humiliating losses in the Black Sea, according to Ukrainian officials with knowledge of the shake-up. FT
Jamie Dimon said a US recession isn’t off the table, but the Fed should wait for more clarity before it cuts interest rates. “The worst case would be stagflation,” he warned. BBG
ORCL +13% in pre mkt trading after it reported 3 cents of EPS upside for FQ3 thanks to higher op. margins, and mgmt. made very bullish comments on the call about its cloud infrastructure business. “Demand for our Gen2 AI infrastructure substantially exceeds supply—despite the fact we are opening new and expanding existing cloud datacenters very, very rapidly. Our Gen2 Cloud Infrastructure business will remain in a hypergrowth phase—up 53% in Q3—for the foreseeable future”. RTRS
A more detailed look at global markets courtesy of Newsquawk
APAC stocks traded mixed following the tentative mood stateside and as participants await US CPI data. ASX 200 notched slight gains but with upside capped by a lack of macro drivers and mixed business surveys. Nikkei 225 slipped at the open after firmer-than-expected PPI data and the ongoing hawkish BoJ-related speculation, but then clawed back the majority of the losses after BoJ Governor Ueda refrained from any major hawkish commentary. Hang Seng and Shanghai Comp. diverged with the former boosted by continued tech strength and as property developers showed resilience including Vanke despite being cut to junk by Moody’s, while the mainland was pressured by lingering headwinds including US-China frictions and economic concerns.
Top Asian News
BoJ Governor Ueda said Japan’s economy is recovering moderately but with some weak data seen, while they see weakness in consumption of non-durable goods and need to see if a virtuous cycle is underway. Ueda also stated they have seen various data since January and more will come out this week which they will look at comprehensively in reaching an appropriate monetary policy decision, while they are focusing on whether a positive wage-inflation cycle is kicking off in judging whether a sustained and stable achievement of the price target is coming into sight. Furthermore, Ueda later commented that it is possible to control short-term rates at an appropriate level by paying interest on reserves parked with the BoJ and if inflation accelerates and warrants monetary tightening, it is possible to do so by raising rates without scaling back BoJ’s bond holdings.
BoJ is reportedly mulling a March hike with the outcome too close to call, according to Bloomberg sources.
BoJ will likely offer numerical guidance on how much government bonds it will buy upon ending NIRP and YCC to avoid causing market disruptions, according to Reuters sources. BoJ is likely to roughly maintain the current pace of bond buying after ditching YCC, and forgot shar cuts in the amount for the time being. BoJ is likely to forgo offering explicit guidance on how soon it will hike rates again amid uncertainties in the economic outlook. Any guidance on future policy path is likely to be in line with Ueda comments on maintaining accommodative monetary conditions even after ending negative interest rates. Note: The guidance on government bonds buying is in-fitting with recent sources.
Former BoJ Official Kiuchi says the BoJ could potentially cancel YCC in March, via Bloomberg TV
US State Department said the US must employ all the tools at its disposal to outcompete China wherever possible and it announced USD 2bln to create a new international infrastructure fund which will help compete with China by providing an alternative.
US House is to vote on Wednesday on the bill which will give ByteDance six months to divest TikTok or face a ban, according to the majority leader’s spokesperson.
US steel unions urge US President Biden to open a probe into Chinese shipbuilding, according to FT.
South Korean chipmakers halt old equipment sales over fears of a US backlash, according to FT.
Nissan (7201 JT) is reportedly mulling cutting China production by as much as 30%, according to Nikkei; Honda Motors (7267 JT) reportedly mulling cutting China production by some 20%.
China Vanke in debt swap talks with banks to stave off default, via Bloomberg
European bourses, Stoxx600 (+0.3%) began the session on a firm footing, though edged lower throughout the European morning as sentiment waned. The FTSE100 (+0.8%) outperforms, lifted by the weaker Pound and its exposure to Mining/Energy names. European sectors hold a strong positive tilt; Banks continue to advance ahead of an ECB meeting regarding European banking policies, whilst Utilities is found at the foot of the pile. US equity futures (ES +0.1%, NQ +0.4%, RTY +0.2%) are mixed, with slight outperformance in the NQ, with the Tech sector benefitting from strong Oracle (+13.3% pre-market) earnings.
Top European News
Morgan Stanley says chances of a UK rate cut in Q2 looks “severely under-priced”; the base case is for a cut in May
European Parliament is reportedly to take the European Commission to court regarding the EUR 10.2bln payoff for Hungary, via Politico citing sources.
Spanish Economy Minister is “optimistic” about agreement with other parties over approval of the 2024 budget. Sees latest economic data backing govt’s 2% GDP forecast.
Irish Central Bank sees HICP in 2024 at +2.0 (prev. +2.3% in December), 2025 at +1.8% (prev. +2.1%) and 2026 at 1.4% (prev. +1.4%), while it sees GDP in 2024 at +2.8% (prev. +2.5%), 2025 at +3.5% (prev. +4.5%) and 2026 at +3.3%. Furthermore, it stated that risks to the economic growth outlook are tilted to the downside and risks to the inflation outlook are broadly balanced.
Riksbank’s Jansson says the risk of high inflation becoming entrenched has diminished, demand-side activity suggests limited upside risk to inflation.
Riksbank’s Thedeen says if inflation prospects remain favourable, we cannot rule out the possibility of a H1 cut. Inflation has fallen recently and is on firmer ground.
FX
DXY is marginally firmer thanks to a softer JPY and GBP. DXY marginally eclipsed yesterday’s peak of 102.93 to print a high of 102.94.
Uneventful trade for the EUR with EZ-wide updates lacking. EUR/USD sits in a tight 1.0922-39 range and is respecting yesterday’s 1.0914-48 parameters.
GBP is on the backfoot vs. peers with Cable losing 1.28 status following jobs data which showed soft wages and an unexpected uptick in the unemployment rate. GBP/USD as low as 1.2777 with not much in the way of support until the 10DMA at 1.2732 and 7th March low at 1.2722.
JPY the laggard across the majors as the Yen’s advances vs. the USD grind to a halt. “Non-hawkish” remarks from Ueda can be cited as the catalyst but it is fair to say the decline in USD/JPY had to wane at some point.
Antipodeans are both steady vs. the USD with NZD faring marginally worse in quiet newsflow. AUD/USD holding above 0.66 and contained within yesterday’s 0.6596-0.6627 range.
PBoC set USD/CNY mid-point at 7.0963 vs exp. 7.1885 (prev. 7.0969).
Fixed Income
Gilts are bid after the morning’s labour market data. Action that took Gilts to a 99.98 high just a tick shy of Monday’s best and by extension a handful below last week’s 100.03 contract high. Thereafter, Gilts extended to a fresh contract peak of 100.17 following the strong auction.
Bunds are a touch firmer given the above but much more contained as the pre-CPI lull and heavy supply docket holds greater sway than UK data; holding around the 133.56 peak which is 50 ticks below Monday’s best.
USTs are holding marginally in the green ahead of US CPI, at the upper-end of narrow 111-18 to 111-22 bounds. Resistance at 111-31 & 112-04+ from the last two sessions, low point from those days also provides support at 111-16+ and 111-08.
Japan to issue JPY 350bln of climate transition bonds later in the month, via Reuters citing sources; targeting four issuances of this type a year.
Netherlands sells EUR 2.05bln vs exp. EUR 2-2.5bln 2.50% 2030 DSL: average yield 2.481% (prev. 2.334%)
Commodities
Crude is firmer but off best levels as the Dollar strengthened with newsflow light thus far ahead of US CPI, but geopolitical concerns linger; Brent holds around USD 82.75/bbl.
Precious metals are mixed with spot gold hampered by the initial Dollar strength, while spot silver is slightly more resilient; XAU briefly dipped under yesterday’s low (2,174.86/oz).
Base metals are mixed and lack firm direction ahead of the US CPI later today; 3M LME copper trades within a USD 8,628.00-8,675.50/t range.
UBS says we continue to retain negative outlook for Palladium, expecting it to remain the laggard in precious metal sector this year.
Commerzbank raises its gold price forecast for end of this year and end of next year to USD 2.2k/toz (prev. 2.1k)
Russia’s Lukoil refinery work in Nizhny Novgorod region was temporarily stopped due to an “incident”, while it was later reported that the oil processing unit in Nizhny Novgorod was on fire after a drone attack, according to Russian agencies.
Main crude distillation unit (AVT -6) at Russia’s Norsi refinery is damaged, via Reuters citing industry sources; the damage at Russia’s Norsi refinery means that at least half of Norsi production is halted.
Morgan Stanley lowers TTF gas price forecast to USD 8/MMBtu (prev. USD 8.5/MMBtu) for Q2’24 and Q3’24; forecast to USD 10.00/MMBtu (prev. 10.5/MMBtu) for Q4’24.
Iraq Basrah April OSPs: Asia -0.60/bbl vs Oman/Dubai (prev. -0.80/bbl); Europe -5.85/bbl vs Brent (prev. -5.45/bbl), Americas -0.95/bbl vs ASCI (prev. -1.00/bbl), according to SOMO.
Kuwait sets April KEC Crude OSP for Asia at Oman/Dubai plus USD 0.55/bbl, USD +0.30/bbl M/M, according to Reuters citing traders
Geopolitics: Middle East
Islamic Resistance said it targeted Ben Gurion Airport with drones on Monday evening, according to Al Jazeera.
Four Israeli strikes targeted eastern Lebanon’s Baalbek, according to two security sources cited by Reuters
Yemen’s Houthis said they targeted ‘American ship Pinocchio’ in the Red Sea and their operations are to escalate during Ramadan. However, US Central Command said Houthi forces targeted the merchant vessel Pinocchio on Monday which is a Singaporean-owned, Liberian-flagged ship although the missiles did not impact the vessel and there were no injuries or damage reported.
EU leaders to urge Israel to refrain from ground operations in Rafah, via Reuters citing draft summit text; calls for “immediate humanitarian pause leading to sustainable ceasefire” in Gaza
Geopolitics: Other
Ukrainian military intelligence said they are preparing to launch serious offensive operations in Crimea, according to Al Arabiya.
Russian air defence systems destroyed Ukraine-launched drones near Moscow, according to Moscow’s Mayor.
US President Biden responded there was no need for that when asked if he would support US troops at the Polish border.
China Maritime Safety Administration announced live firing drills in some areas in the East China Sea from March 12th-14th.
Russian Defence Ministry says Russia, China and Iran are to begin joint navy drills in the Gulf of Oman.
European Commission Chief von der Leyen says considering new sanctions on Iran if reports of supplying Russia with missiles is true
US Event Calendar
08:30: Feb. CPI MoM, est. 0.4%, prior 0.3%
Feb. CPI YoY, est. 3.1%, prior 3.1%
Feb. CPI Ex Food and Energy MoM, est. 0.3%, prior 0.4%
Feb. CPI Ex Food and Energy YoY, est. 3.7%, prior 3.9%
Feb. Real Avg Hourly Earning YoY, prior 1.4%, revised 1.3%
Feb. Real Avg Weekly Earnings YoY, prior -0.1%, revised 0.1%
14:00: Feb. Monthly Budget Statement, est. -$298.5b, prior -$262.4b
DB’s Jim Reid concludes the overnight wrap
Today the roadshow has moved onto Melbourne after a hectic day in Sydney yesterday. Walking between meetings in the hot sun has got me a bit worried I’m going to come back to the office with a tan next week with my team a bit confused as to how hard I was actually working. Actually my wife might be a bit confused too!
Markets have drifted into the shade a little to start the week as we await today’s all-important CPI print. The S&P 500 (-0.11%) fell back for the second session running with the Magnificent 7 (-1.12%) underperforming and the VIX (+0.50pts) up to its highest level (15.22) in nearly three weeks. The bigger story was renewed fears about inflation pushing 2yr Treasuries (+6.1bps) back up to 4.54%.
Those inflation concerns were heightened by the New York Fed’s latest Survey of Consumer Expectations, which showed medium- and long-term expectations rising again in February. In particular, the 5yr inflation expectation was up to a 6-month high of +2.9%, which was a reversal from the downward trend over the preceding months. Separately, there were also signs of a weaker labour market, as the mean probability of losing one’s job in the next year was up to 14.5%, which was the highest since April 2021. Moreover, the mean probability of finding a job in 3 months if one lost their job was down to 52.5%, again the lowest since April 2021.
That sets us up for another CPI day, which is getting more attention than usual after last month surprised on the upside. In terms of what to expect this time round, our US economists think headline CPI will come in at a monthly +0.41%, which would keep the year-on-year measure at +3.1%. Then for core, they’re expecting it to be at +0.30%, taking the year-on-year measure down two-tenths to +3.7%. If that’s realised, it would also be the 4th consecutive month that core CPI has come in at +0.3% or +0.4%, which is still a bit too fast for the Fed to be comfortable. Indeed, last month’s surprise saw investors push out the likely timing of rate cuts, and futures are increasingly looking towards June as the most likely date for a first cut. However, risk assets did not really suffer from last month’s surprise, and since that release came out the S&P 500 is around 2% higher, the Magnificent 7 c.+1.2%, Bitcoin c.+45%, and US HY spreads c.-4bps tighter.
With all that to look forward to, US Treasuries lost ground across the curve, with the 2yr yield (+6.2bps) up to 4.54%, whilst the 10yr yield (+2.3bps) rose to 4.10%. That was echoed in Europe as well, where yields on 10yr bunds (+3.6bps), OATs (+4.2bps) and BTPs (+4.6bps) all moved higher. That came as investors slightly dialled back the amount of rate cuts priced in, with the Fed now expected to deliver 91bps of rate cuts by the December meeting, down -4.3bps on the day.
For equities it was also a weaker session, with the S&P 500 (-0.11%) clawing back some of its initial losses but still down marginally on the day. That was mostly due to losses among the Magnificent 7 (-1.12%), and Nvidia (-2.00%) continued to lose ground after its -5.55% decline on Frida y. It also marked the first time since the very start of the year that the Magnificent 7 has fallen by more than -1% for two consecutive days. Notable underperformers also included Meta (-4.42%) and Boeing (-3.02%), with the latter extending its YTD decline to -26% amid news that the Department of Justice opened a criminal investigation into January’s mid-flight blowout incident. That said, the equal-weighted version of the S&P 500 did rise +0.14%, with materials (+1.13%) and energy (+1.00%) stocks outperforming. Meanwhile in Europe, there was a mixed performance, as the STOXX 600 fell -0.35%, but there were still gains for the FTSE 100 (+0.12%) and the IBEX 35 (+0.19%), alongside losses for the CAC 40 (-0.10%) and the DAX (-0.38%).
In Asia, equity markets have put in a mixed this performance this morning. In Japan, the Nikkei (-0.41%) is on track to fall for a second day, and in China the Shanghai Composite (-0.24%) has also lost ground. But other indices have posted a better performance, with the Hang Seng (+2.23%) surging, whilst the KOSPI (+0.50%) and the CSI 300 (+0.40%) have also advanced. US equity futures are pointing higher as well, with those on the S&P 500 up +0.37%.
Otherwise this morning, the Japanese Yen has weakened -0.37% against the US Dollar after Bank of Japan Governor Ueda referred to “weakness in some household spending data”, even though he said “my view is that the gradual recovery continues.” That led to a bit more doubt about the prospect of a shift away from negative interest rates at next week’s meeting, and the 2yr JGB yield is down -0.1bps this morning at 0.19%. Overnight index swaps have also lowered the prospect of a shift by the April meeting from 87% to 84%. That said, the PPI inflation data for February came in a bit stronger than the consensus expected, with year-on-year PPI up to +0.6% (vs. +0.5% expected).
Whilst lots of assets struggled yesterday, Bitcoin (+3.87%) was an exception as it reached another all-time high, surpassing the $72,000 mark for the first time in trading. Remember that we’re still not quite at the all-time high in real terms though, as in November 2021, Bitcoin peaked at $68992, which is above $76,000 in today’s prices if you adjust for CPI inflation. As a reminder, Marion Laboure and Cassidy Ainsworth-Grace put out a report last week (link here) on why Bitcoin is trading at a record and why they expect prices to continue to go even higher this year.
To the day ahead now, and the main highlight will be the US CPI release for February. Other US releases include the NFIB’s small business optimism index for February, and the monthly budget statement for February. In the UK, there’s also the monthly labour market data. Central bank speakers include the ECB’s Holzmann and the BoE’s Mann. Lastly, there’s also a 10yr US Treasury auction.
2 B) NOW NEWSQUAWK (EUROPE/REPORT)
Equities mostly firmer, JPY lags post-Ueda and Gilts bid after the UK’s jobs report; US CPI due – Newsquawk US Market Open
TUESDAY, MAR 12, 2024 – 06:39 AM
European bourses are modestly firmer, whilst US equity futures are mixed; the NQ narrowly outperforms led by tech optimism post Oracle results
Dollar is flat, JPY underperforms post-Ueda and the Pound lags after softer-than-expected jobs data
Bonds are modestly firmer, taking the lead from Gilt outperformance following the region’s jobs data
Crude is firmer as geopolitical themes remain; XAU is lower
Looking ahead, US CPI, EIA STEO, OPEC OMR, Supply from the US, Comments from BoE’s Bailey
2. Listen to this report in the market open podcast (available on Apple and Spotify)
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EUROPEAN TRADE
EQUITIES
European bourses, Stoxx600 (+0.3%) began the session on a firm footing, though edged lower throughout the European morning as sentiment waned. The FTSE100 (+0.8%) outperforms, lifted by the weaker Pound and its exposure to Mining/Energy names.
European sectors hold a strong positive tilt; Banks continue to advance ahead of an ECB meeting regarding European banking policies, whilst Utilities is found at the foot of the pile.
US equity futures (ES +0.1%, NQ +0.4%, RTY +0.2%) are mixed, with slight outperformance in the NQ, with the Tech sector benefitting from strong Oracle (+13.3% pre-market) earnings.
Click here and here for the sessions European pre-market equity newsflow, including earnings.
DXY is marginally firmer thanks to a softer JPY and GBP. DXY marginally eclipsed yesterday’s peak of 102.93 to print a high of 102.94.
Uneventful trade for the EUR with EZ-wide updates lacking. EUR/USD sits in a tight 1.0922-39 range and is respecting yesterday’s 1.0914-48 parameters.
GBP is on the backfoot vs. peers with Cable losing 1.28 status following jobs data which showed soft wages and an unexpected uptick in the unemployment rate. GBP/USD as low as 1.2777 with not much in the way of support until the 10DMA at 1.2732 and 7th March low at 1.2722.
JPY the laggard across the majors as the Yen’s advances vs. the USD grind to a halt. “Non-hawkish” remarks from Ueda can be cited as the catalyst but it is fair to say the decline in USD/JPY had to wane at some point.
Antipodeans are both steady vs. the USD with NZD faring marginally worse in quiet newsflow. AUD/USD holding above 0.66 and contained within yesterday’s 0.6596-0.6627 range.
PBoC set USD/CNY mid-point at 7.0963 vs exp. 7.1885 (prev. 7.0969).
Gilts are bid after the morning’s labour market data. Action that took Gilts to a 99.98 high just a tick shy of Monday’s best and by extension a handful below last week’s 100.03 contract high. Thereafter, Gilts extended to a fresh contract peak of 100.17 following the strong auction.
Bunds are a touch firmer given the above but much more contained as the pre-CPI lull and heavy supply docket holds greater sway than UK data; holding around the 133.56 peak which is 50 ticks below Monday’s best.
USTs are holding marginally in the green ahead of US CPI, at the upper-end of narrow 111-18 to 111-22 bounds. Resistance at 111-31 & 112-04+ from the last two sessions, low point from those days also provides support at 111-16+ and 111-08.
Crude is firmer but off best levels as the Dollar strengthened with newsflow light thus far ahead of US CPI, but geopolitical concerns linger; Brent holds around USD 82.75/bbl.
Precious metals are mixed with spot gold hampered by the initial Dollar strength, while spot silver is slightly more resilient; XAU briefly dipped under yesterday’s low (2,174.86/oz).
Base metals are mixed and lack firm direction ahead of the US CPI later today; 3M LME copper trades within a USD 8,628.00-8,675.50/t range.
UBS says we continue to retain negative outlook for Palladium, expecting it to remain the laggard in precious metal sector this year.
Commerzbank raises its gold price forecast for end of this year and end of next year to USD 2.2k/toz (prev. 2.1k)
Russia’s Lukoil refinery work in Nizhny Novgorod region was temporarily stopped due to an “incident”, while it was later reported that the oil processing unit in Nizhny Novgorod was on fire after a drone attack, according to Russian agencies.
Main crude distillation unit (AVT -6) at Russia’s Norsi refinery is damaged, via Reuters citing industry sources; the damage at Russia’s Norsi refinery means that at least half of Norsi production is halted.
Morgan Stanley lowers TTF gas price forecast to USD 8/MMBtu (prev. USD 8.5/MMBtu) for Q2’24 and Q3’24; forecast to USD 10.00/MMBtu (prev. 10.5/MMBtu) for Q4’24.
Iraq Basrah April OSPs: Asia -0.60/bbl vs Oman/Dubai (prev. -0.80/bbl); Europe -5.85/bbl vs Brent (prev. -5.45/bbl), Americas -0.95/bbl vs ASCI (prev. -1.00/bbl), according to SOMO.
Kuwait sets April KEC Crude OSP for Asia at Oman/Dubai plus USD 0.55/bbl, USD +0.30/bbl M/M, according to Reuters citing traders
Morgan Stanley says chances of a UK rate cut in Q2 looks “severely under-priced”; the base case is for a cut in May
European Parliament is reportedly to take the European Commission to court regarding the EUR 10.2bln payoff for Hungary, via Politico citing sources.
Spanish Economy Minister is “optimistic” about agreement with other parties over approval of the 2024 budget. Sees latest economic data backing govt’s 2% GDP forecast.
Irish Central Bank sees HICP in 2024 at +2.0 (prev. +2.3% in December), 2025 at +1.8% (prev. +2.1%) and 2026 at 1.4% (prev. +1.4%), while it sees GDP in 2024 at +2.8% (prev. +2.5%), 2025 at +3.5% (prev. +4.5%) and 2026 at +3.3%. Furthermore, it stated that risks to the economic growth outlook are tilted to the downside and risks to the inflation outlook are broadly balanced.
Riksbank’s Jansson says the risk of high inflation becoming entrenched has diminished, demand-side activity suggests limited upside risk to inflation.
Riksbank’s Thedeen says if inflation prospects remain favourable, we cannot rule out the possibility of a H1 cut. Inflation has fallen recently and is on firmer ground.
DATA RECAP
Overall, the UK data has a dovish skew with the earnings metrics (with and without bonuses) printing softer than expected and below the prior alongside an unexpected uptick in the unemployment rate and a contraction in the employment change.
UK ILO Unemployment Rate (Jan) 3.9% vs. Exp. 3.8% (Prev. 3.8%)
UK Avg Earnings (Ex-Bonus) (Jan) 6.1% vs. Exp. 6.2% (Prev. 6.2%); Avg Wk Earnings 3M YY (Jan) 5.6% vs. Exp. 5.7% (Prev. 5.8%)
German CPI Final MM (Feb) 0.4% vs. Exp. 0.4% (Prev. 0.4%)
German HICP Final YY (Feb) 2.7% vs. Exp. 2.7% (Prev. 2.7%); HICP Final MM (Feb) 0.6% vs. Exp. 0.6% (Prev. 0.6%); CPI Final YY (Feb) 2.5% vs. Exp. 2.5% (Prev. 2.5%)
NOTABLE US HEADLINES
Oracle Corp (ORCL) – Q3 adj. EPS 1.41 (exp. 1.38), Q3 revenue USD 13.28bln (exp. 13.31bln). Q3 cloud revenue USD 5.1bln (exp. 5.06bln); cloud revenue in constant currency +24% (exp. +24.7%); Q3 cloud services and license support revenue USD 9.96bln (exp. 9.85bln); cloud license and on-premise license revenue USD 1.26bln (exp. 1.2bln); Q3 hardware revenue 0.754bln (exp. 0.769bln); Gen2 Cloud Infrastructure business Remaining Performance Obligations (RPOs) +29% to USD 80bln in Q3. Q3 service revenue 1.31bln (exp. 1.37bln). Exec said demand for Gen2 AI infrastructure substantially exceeds supply, and expects Gen2 cloud infrastructure business will remain in a hypergrowth phase up 53% in Q3 for the foreseeable future. Sees Q4 EPS between 1.62-1.66 (exp. 1.64), and sees Q4 revenue growth of +4-6% Y/Y (exp. 14.75bln); Q4 cloud revenue seen rising +22-24%. FY24 revenue seen accelerating Y/Y, and will likely be significantly higher in FY25. FY24 capex seen between USD 7-7.5bln, expects capex to be considerably higher in Q4. Sees FY25 capex above USD 10bln; is building an AI data centre in Salt Lake City; building 20 data centres for Microsoft (MSFT), with three new orders this year. Oracle said it is set to make a joint announcement with Nvidia (NVDA) in the coming week (at NVDA’s GTC event), and Reuters noted that execs mentioned Nvidia at least three times during their conference call. (Oracle IR/Newswires) Shares +13.3% pre-market
Alaska Air (ALK) says Q1 performance is now on track to exceed expectations held by the Co. coming into the year; FY capacity to expectations still in flux amid uncertainty around timing of aircraft deliveries.
Intel (INTC) survived bid to halt millions in sales to China’s Huawei, giving it more time to sell to the heavily sanctioned Chinese telecoms company, Reuters reports.
GEOPOLITICS
MIDDLE EAST
Islamic Resistance said it targeted Ben Gurion Airport with drones on Monday evening, according to Al Jazeera.
Four Israeli strikes targeted eastern Lebanon’s Baalbek, according to two security sources cited by Reuters
Yemen’s Houthis said they targeted ‘American ship Pinocchio’ in the Red Sea and their operations are to escalate during Ramadan. However, US Central Command said Houthi forces targeted the merchant vessel Pinocchio on Monday which is a Singaporean-owned, Liberian-flagged ship although the missiles did not impact the vessel and there were no injuries or damage reported.
EU leaders to urge Israel to refrain from ground operations in Rafah, via Reuters citing draft summit text; calls for “immediate humanitarian pause leading to sustainable ceasefire” in Gaza
OTHER
Ukrainian military intelligence said they are preparing to launch serious offensive operations in Crimea, according to Al Arabiya.
Russian air defence systems destroyed Ukraine-launched drones near Moscow, according to Moscow’s Mayor.
US President Biden responded there was no need for that when asked if he would support US troops at the Polish border.
China Maritime Safety Administration announced live firing drills in some areas in the East China Sea from March 12th-14th.
Russian Defence Ministry says Russia, China and Iran are to begin joint navy drills in the Gulf of Oman.
European Commission Chief von der Leyen says considering new sanctions on Iran if reports of supplying Russia with missiles is true
CRYPTO
Bitcoin takes a breather and holds just shy of USD 72k, with Ethereum also lower but remains above USD 4k.
APAC TRADE
APAC stocks traded mixed following the tentative mood stateside and as participants await US CPI data.
ASX 200 notched slight gains but with upside capped by a lack of macro drivers and mixed business surveys.
Nikkei 225 slipped at the open after firmer-than-expected PPI data and the ongoing hawkish BoJ-related speculation, but then clawed back the majority of the losses after BoJ Governor Ueda refrained from any major hawkish commentary.
Hang Seng and Shanghai Comp. diverged with the former boosted by continued tech strength and as property developers showed resilience including Vanke despite being cut to junk by Moody’s, while the mainland was pressured by lingering headwinds including US-China frictions and economic concerns.
NOTABLE ASIA-PAC HEADLINES
BoJ Governor Ueda said Japan’s economy is recovering moderately but with some weak data seen, while they see weakness in consumption of non-durable goods and need to see if a virtuous cycle is underway. Ueda also stated they have seen various data since January and more will come out this week which they will look at comprehensively in reaching an appropriate monetary policy decision, while they are focusing on whether a positive wage-inflation cycle is kicking off in judging whether a sustained and stable achievement of the price target is coming into sight. Furthermore, Ueda later commented that it is possible to control short-term rates at an appropriate level by paying interest on reserves parked with the BoJ and if inflation accelerates and warrants monetary tightening, it is possible to do so by raising rates without scaling back BoJ’s bond holdings.
BoJ is reportedly mulling a March hike with the outcome too close to call, according to Bloomberg sources.
BoJ will likely offer numerical guidance on how much government bonds it will buy upon ending NIRP and YCC to avoid causing market disruptions, according to Reuters sources. BoJ is likely to roughly maintain the current pace of bond buying after ditching YCC, and forgot shar cuts in the amount for the time being. BoJ is likely to forgo offering explicit guidance on how soon it will hike rates again amid uncertainties in the economic outlook. Any guidance on future policy path is likely to be in line with Ueda comments on maintaining accommodative monetary conditions even after ending negative interest rates. Note: The guidance on government bonds buying is in-fitting with recent sources.
Former BoJ Official Kiuchi says the BoJ could potentially cancel YCC in March, via Bloomberg TV
US State Department said the US must employ all the tools at its disposal to outcompete China wherever possible and it announced USD 2bln to create a new international infrastructure fund which will help compete with China by providing an alternative.
US House is to vote on Wednesday on the bill which will give ByteDance six months to divest TikTok or face a ban, according to the majority leader’s spokesperson.
US steel unions urge US President Biden to open a probe into Chinese shipbuilding, according to FT.
South Korean chipmakers halt old equipment sales over fears of a US backlash, according to FT.
Nissan (7201 JT) is reportedly mulling cutting China production by as much as 30%, according to Nikkei; Honda Motors (7267 JT) reportedly mulling cutting China production by some 20%.
China Vanke in debt swap talks with banks to stave off default, via Bloomberg
DATA RECAP
Japanese Corporate Goods Prices MM (Feb) 0.2% vs. Exp. 0.1% (Prev. 0.0%); Corporate Goods Prices YY (Feb) 0.6% vs. Exp. 0.5% (Prev. 0.2%)
Australian NAB Business Conditions (Feb) 10.0 (Prev. 6.0, Rev. 7.0); NAB Business Confidence (Feb) 0.0 (Prev. 1.0)
2C ASIA AFFAIRS
TUESDAY MORNING/MONDAY NIGHT
SHANGHAI CLOSED DOWN 12.52 PTS OR 0.41% //Hang Seng CLOSED UP 505.93 PTS OR 3.05% / Nikkei CLOSED DOWN 22.98 PTS OR 0.06%//Australia’s all ordinaries CLOSED UP 0.12% /Chinese yuan (ONSHORE) closed UP 7.1760 //OFFSHORE CHINESE YUAN CLOSED UP TO 7.1789 /Oil UP TO 77.88 dollars per barrel for WTI and BRENT UP AT 82.13/ Stocks in Europe OPENED ALL GREEN// 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
3 CHINA
CHINA/
END
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
PORTUGAL
Socialist’s 8 yr reign ends with election of new centre right coalition
(zerohedge)
Portuguese Center-Right Coalition Ends Socialists’ 8-Year Reign; Populist Party Soars
TUESDAY, MAR 12, 2024 – 02:45 AM
In the latest demonstration of a broad swing to the political right among the peoples of Europe, a tight parliamentary election in Portugal has ended with the Socialist Party conceding that its 8-year grip on power has ended. A center-right coalition emerged with a thin edge, while a populist, anti-immigration, tough-on-crime party emerged as a major force.
With 99% of votes tallied, the center-right AD coalition had 79 seats to the Socialists’ 77. But the biggest storyline is the phenomenal surge by the populist Chega party, which is suddenly the third-largest in Portugal, despite having been founded less than five years ago.
The AD party won a plurality, but not enough of the 230 total seats to create a new government on its own. Luis Montenegro, who leads the Social Democratic Party — the largest in the victorious AD coalition — has repeatedly promised he wouldn’t form a ruling coalition with Chega, whose positions he has characterized as “often xenophobic, racist, populist and excessively demagogic” He forcefully reiterated his stance after Sunday’s results were posted. “Of course I will keep my word,” said Montenegro. “I would never do such evil to myself, my party and my country as to not fulfill the commitments I made so clearly.”
On the other hand, citing the results, Chega leader Andre Ventura said his party has a rightful place in a new ruling coalition. “We are available to provide a stable government in Portugal,” he said. “AD asked for a majority. Today the Portuguese spoke out and said they want a two-party government from AD and Chega.”
The Socialist Party could Montenegro box Chega out of the process, by abstaining from a parliamentary vote to form the next government, according to the Financial Times. However, without Chega, Portugal may be left with a fragile minority government that will likely collapse much sooner than later. “Since Portugal became a democracy 50 years ago, only two minority governments have lasted a full term,” write Bloomberg‘s Joao Lima and Henrique Almeida.
Fittingly capturing the exasperation of its growing share of the voting public,Chega translates to “Enough.” The party has championed tighter rules on immigration, while also promising to slash taxes and boost pension payments. Portugal have been beset by low wages and soaring housing costs — the latter trend compounded by what Fortune called a “buying frenzy” among wealthy foreigners. Chega’s tough-on-crime rhetoric has included promoting chemical castration for certain sex offenders.
Chega’s Ventura has also stressed the need to rid Portugal of Socialist corruption, a message that resonated all the more when Socialist Prime Minister Antonio Costa resigned in November amid an investigation of alleged influence-peddling relating to lithium and hydrogen concessions.
Portugal’s results have no doubt shaken Europe’s establishment, as they further evidence a growing, popular rejection of the leftist agenda. The June 6-9 European Union parliamentary elections could be very interesting…
end
5. RUSSIA AND MIDDLE EASTERN AFFAIRS.
ISRAEL HAMAS/this morning
Terrorist bombing of IDF troops foiled as military presses forward in Khan Yunis
IDF soldiers continue to operate in northern and central Gaza.
As battles continued in central Gaza, the IDF killed a Hamas terrorist who fired rockets toward Israel after exiting the site he used to launch the rockets. Additionally, rocket launchers were dismantled, the IDF reported Tuesday.
In the Hamad neighborhood of Khan Yunis, IDF soldiers from the Egoz Unit continue to operate and conduct targeted raids. The troops located a military compound filled with a variety of military ordnance, including AK-47 rifles, vests, and explosive devices.
Over the past day, IDF troops and fighter jets struck a terrorist who fired mortar shells at Israeli territory. The troops monitored the source of the mortar shell fire, identified the terrorist who exited the launch site, and directed an aircraft that killed the terrorist.
In response to the rocket launches, IDF fighter jets also struck military compounds and terrorist infrastructure.
Additional Hamas terrorists eliminated
Furthermore, also in the area of Hamad, four terrorists attempted to plant an explosive device next to IDF troops at a military compound. The Givati Brigade combat soldiers directed an aircraft to eliminate the group of terrorists.
IDF tank and soldier operating in central Gaza, March 12, 2024. (credit: IDF SPOKESPERSON’S UNIT)
Additionally, the 162nd Division continued to operate in northern and central Gaza. Over the past day, combat teams of the Nahal Brigade used IDF intelligence to locate rocket launchers that were used to fire at Israeli territory.
The troops cleared weapons from the area and dismantled the rocket launchers. In addition, after two rockets were fired at IDF soldiers, they located the terrorists that exited the launch site that was used to fire at them. In response, an aircraft killed the terrorists. There were no reported IDF injuries.
Hamas has accepted a ‘modified version’ of the US ceasefire proposal, a source in the Gazan terror group told Al-Arabiya on Tuesday.
The source added that representatives of the terror group are set to visit Cairo soon to discuss the details of the proposal.
According to the source, the modified proposal includes the release of hostages and Palestinian terrorists, along with the gradual return of Gazans to their homes
US asks Hamas to release women, elderly hostages for longer ceasefire
The White House on Tuesday urged Hamas terrorists in Gaza to release women, elderly and wounded hostages and accept a temporary ceasefire in the fighting with Israel in order to secure a more lasting one.
“A ceasefire is on the table today, for six weeks to be built on into something more enduring if Hamas would simply release women, wounded and elderly,” White House national security adviser Jake Sullivan told reporters.
Pro-Palestinian demonstrators march outside the Israeli embassy to call for a ceasefire in Gaza, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, during a protest in Washington, U.S., March 2, 2024. (credit: Bonnie Cash/Reuters)
Israel has accepted the terms of a six-week ceasefire in exchange for the release of some of the hostages held by Hamas since its Oct. 7 assault on southern Israel in which 1,200 people were killed.
Hamas says it will only accept a deal based on a permanent ceasefire that ends the war and includes an Israeli troop withdrawal from Gaza, rather than another temporary truce.
Under the most recent proposal, Israel would release Palestinian prisoners at a 10-to-one ratio to the number of Hamas hostages held.
Hamas took at least 200 hostages on Oct. 7. During a week-long truce in late November, Hamas freed more than 100 Israeli and foreign hostages in exchange for Israel releasing about 240 Palestinian security prisoners.
“We’re determined to try to generate a ceasefire where at least six weeks with the hostages coming out and then try to build on that into something more enduring, but I can’t make any predictions about where this will lie,” Sullivan said.
END
ISRAEL HAMAS/
END
ISRAEL/HEZBOLLAH/MONDAY NIGHT
Reports: Several casualties reported in Israeli strike on ex-Hezbollah sites in Baalbek
The Hezbollah-linked al-Manar news website reports that there are several casualties in an alleged Israeli attack in the Baalbek region of Lebanon, a Hezbollah bastion bordering Syria.
A security source tells AFP that the alleged Israeli strike deep inside Lebanon “targeted a former Hezbollah building near Dar Al Amal Hospital.”
The source adds that Israel “conducted another raid on a warehouse west of Baalbek.”
Another security official confirms the strikes. There is no comment from the Israel Defense Forces.
END
IDF attacks two Hezbollah compounds deep in Lebanon
Separate strikes allegedly by Israel saw at least one civilian killed and several others injured in the eastern Lebanese city of Baalbek on Monday.
By JERUSALEM POST STAFF, REUTERSMARCH 11, 2024 21:21Updated: MARCH 12, 2024 01:14
Clouds of smoke rise from Lebanon’s Bekaa Valley, as sources in Lebanon reported Israeli airstrikes killed at least two Hezbollah members, February 26, 2024(photo credit: REUTERS)
The IDF said their fighter jets had attacked on Monday night two compounds belonging to the Hezbollah terrorist organization in the Beqaa Valley deep into Lebanon following operation of aircraft towards the Golan Heights in recent days.
The compounds are associated with Hezbollah‘s air force which planned and executed various targets towards Israeli territory. The attacks were carried out in response to the operation of Hezbollah aircraft towards the Golan Heights during the past few days
Just earlier, IAF jets attacked a Hezbollah terror infrastructure and military structures in the Ayta ash Shab and Naqoura areas of southern Lebanon, the military said on Monday.
At least one civilian has been killed and several others injured after Israel launched four strikes on eastern Lebanon‘s city of Baalbek on Monday, two security sources and the Baalbek governor, Bashir Khader, told Reuters.
Women and youths carry Hezbollah flags during a demonstration in support of Palestinians in Gaza, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Beirut, Lebanon March 2, 2024. (credit: MOHAMED AZAKIR/REUTERS)
One of the strikes hit the southern entrance to the city of Baalbek, at least two kilometers from Roman ruins, the security sources said.
The three other strikes hit near the city of Taraya, 20 km west of Baalbek, they added.
end
ISRAEL/.LEBANON/HEZBOLLAH //last night
Israel Making Preparations To Launch Invasion Of Southern Lebanon
MONDAY, MAR 11, 2024 – 08:40 PM
Israel has continued signaling that it is preparing to launch a major new operation against Hezbollah in southern Lebanon following months of tit-for-tat escalation. Some 80,000 Israeli residents whose homes are near the border have remained evacuated since October and November, and are essentially internally displaced. Because of this, pressure has mounted on Israeli leaders to do something that would allow their return, and ensure the security of Israel’s north.
Israeli media, particularly YNet Newsreported on Sunday that the Israel Defense Forces (IDF) is preparing “contingency plans” for a wide-scale attack on Lebanon. Israeli Army Northern Command head Major General Ori Gordin in a meeting with settler leaders from northern Israel stated, “We are preparing contingency plans to launch an attack in Lebanon. Our commitment, mine, is to change the security situation so that the residents can be returned home.”
YNet further unveiled plans to initiate the army’s “Operation Steady Anchor” which aims to protect civilians during the expected escalation in fighting. Hezbollah is widely estimated to possess over 150,000 rockets – some of which can likely reach Haifa and Tel Aviv.
The operation involves setting up dozens of mass shelters utilizing fortified abandoned buildings and underground parking garages. This is to protect civilians in the instance of a mass Hezbollah rocket barrage. The shelters will be equipped to allow families to take refuge anywhere from a few hours to up to several days.
In another key sign of Tel Aviv’s war preparations, the IDF has been conducing a logistics supply drill focused on its northern bases and positions, and in preparation for a Lebanon offensive This has included practice runs delivering ammo, equipment, water, and fuel to simulated “maneuvering forces” operating in southern Lebanon.
Meanwhile, Army Chief Herzi Halevi has reportedly ordered Brig. Gen. Chico Tamir, the former deputy commander of the northern corps, to draw up “several possible plans for a ground operation in Lebanon.”
Veteran Middle East war correspondent Elijah Magnier reports Monday from the Lebanese side that “Hezbollah (and allies) is training and preparing for a possible war with Israel above and below ground.”
Attacks by Hezbollah have continued to be daily, also amid Israeli return fire. On Sunday a major Israeli airstrike hit a home in south Lebanon’s Khirbet Selm, killing a family of five, including three Hezbollah members.
Last month, an op-ed inForeign Policy predicted that a broader Israel-Hezbollah war is inevitable. “It is likely that there is going to be a war between Hezbollah and Israel within the next six to eight months,” wrote Steven Cook, senior fellow for Middle East and Africa studies at the Council on Foreign Relations.
Cook said, “Still, it is not hard to imagine a moment at which the Iranians loosen the reins on their primary proxy. As Hezbollah leader Hassan Nasrallah made clear in an early January speech remembering the life and work of Maj. Gen. Qassem Suleimani—the IRGC Quds Force commander who the United States killed in a drone strike in early 2020—the Iranians have put significant time, energy, and resources into the development of so-called axis of resistance.”
A bigger war in Lebanon would very likely also spill over into Syria and Iraq as well, where US occupying forces have already come under frequent drone and rocket attack, though these instances have been less frequently in the last few weeks.
end
ISRAEL/HEZBOLLAH/this morning
Massive barrage of 100 rockets pounds North, Israel strikes back
These exchanges between Israel and Hezbollah continue to escalate as the war with Hamas rages on in Gaza.
Israel responded with strikes after alarms sounded in the Galilee and the Golan Heights as two barrages of at least 100 rockets in total were launched at northern Israel on Tuesday morning, the IDF reported. The first round contained 30 rockets, and the second round contained 70.
Crashes were reportedly sighted in open areas near Ein Kuniya, Snir, Sha’ar Yashuv, and Kfar Szold.
Hezbollah said it fired these Katyusha rockets in response to Israeli bombardment of the Bekaa region Monday night, Reuters reported.
An Israeli air defense system intercept rockets fired from Lebanon as it seen from the Israeli side of the border, on November 7, 2023. (credit: AYAL MARGOLIN/FLASH90)
At least one civilian was killed, and several others were injured after Israel launched several strikes on Baalbek in eastern Lebanon, Reuters reported, citing two security sources and the Baakbek governor, Bashir Khader.
One of the strikes hit the southern entrance of Baalbek, at least two kilometers from ancient Roman ruins, the security sources said. The three others struck near the city of Taraya, 20 kilometers west of Baalbek.
The IDF continues to fire back
The IDF reported that fighter jets struck three launch posts that fired toward the Golan Heights.
Additionally, the IDF reported that fighter jets attacked two Hezbollah compounds in the area of Bekaa deep in Lebanon in response to the earlier rocket fire towards the north of Israel. The compounds are affiliated with Hezbollah’s airforce.
“Since the establishment of the state, no Israeli government has ceded sovereign territories, as the Gantz-Netanyahu government is doing,” Major General and former Deputy Chief of Staff Yair Golan stated in response to the rocket bombardment.
“A quarter of a million [people] are displaced…Hundreds of rockets every day,” he added. “The abandonment of this territory will be a central issue in the inquiry committee that will be established.”
These exchanges between Israel and Hezbollah continue to escalate as the war with Hamas rages on in Gaza.
Yonah Jeremy Bob contributed to this report.
ISRAEL GAZA/
WESTBANK
END
HOUTHIS/WEST
END
HOUTHIS/WEST
/RUSSIA/UKRAINE/
“He’ll Kill Us All” – New Head Of Ukrainian Forces Nicknamed ‘The Butcher’ By Own Troops
The new head of the Ukrainian army, Oleksandr Syrskyi, is known as “the butcher” by his own troops, and there are fears his aggressive style will lead to massive losses for Ukrainians in the east on top of already high casualties.
While President Zelensky claims that Ukraine has suffered only 31, 000 soldier deaths, most analysts, and those in Ukraine, know that number is far from reality. In fact, Ukraine’s ally, the United States, estimates that Ukraine had lost 70,000 men already last summer, on top of many more severely wounded or psychologically traumatized. The number of missing also remains high.
In a new interview with Politico, one soldier who wished to remain anonymous warned about the 58-year-old Syrskyi, saying: “He will kill us all.”
Politico reports that Ukrainian troops reportedly refer to the new commander of Ukraine’s ground forces as someone willing to put his troops in harm’s way to achieve his goals. Syrskyi, who was born in central Russia, is known for his “hard-driving Soviet-style” tactics.
He is filling in the shoes of the former commander of Ukraine, Valeriy Zalushny, who is still well-loved by the troops and who is said to have placed their safety as one of his top priorities. Zalushny had come under criticism for his public statements that he believed the war had reached a stalemate, which some analysts interpreted as a call for a ceasefire and a winding down of hostilities, which is in sharp contrast to Zelensky’s declared goals in the war of reclaiming lost territories.
Zelensky might also have other motives for prolonging the conflict, such as polls showing that he would outright lose the presidency to Zalushny if a fair vote were held. However, March national elections have been canceled, with the excuse that elections cannot be held while the war continues.
Syrskyi’s appointment also comes at a time when there is a sharp debate in Ukrainian society about large-scale mobilization efforts. Ukraine has already lost a significant amount of its population, both due to war and the emigration of the female population. Many of the men most willing to go to the front have long since enlisted or perished in battle, leaving a population of Ukrainians increasingly unwilling to take up arms.
One officer on X posted about Syrskyi’s appointment, saying, his leadership style “is bankrupt, his presence or orders coming from his name are demoralizing, and he undermines trust in the command in general. His relentless pursuit of tactical gains constantly depletes our valuable human resources, resulting in tactical advances such as capturing tree lines or small villages, with no operational goals in mind.”
Syrskyi reportedly gained his reputation as a “butcher” due to his willingness to hold the city of Bakhmut against Russian forces at nearly any cost, leading to high Ukrainian casualty rates. U.S. intelligence had long advised that Ukrainian forces should abandon the town, while Syrskyi kept sending more men into the war-torn city.
Zelensky said the city must be held at all costs, which put him at odds with the former General Zalushny, who advocated a withdrawal.
Ukraine reportedly lost a large number of well-trained troops in Bakhmut, while Russia lost large numbers of former convicts who conducted “human wave” assaults on the city.
Nevertheless, Syrskyi can boast some serious victories, including his pivotal defense of Kyiv along with the lightning blitz seen in Kharkiv that drove out Russian forces in the area.
Cancer risk soars 52% among fully vaccinated aged 15-59, pathologist finds
A Croatian pathologist by the name of Ivana Pavic spoke with investigator Steve Kirsch recently about a disturbing phenomenon she is observing in people who got “vaccinated” for the Wuhan coronavirus (COVID-19).
According to Pavic, 65 percent of all carcinoma cases among people aged 15 through 59 received one or more injections for the Chinese Virus, this with a 55 percent vaccination rate overall in the same age group.
Calculated out, this means that getting jabbed for COVID increases one’s risk of this particular form of cancer by 52 percent, something that was not disclosed when the shots were pushed through Operation Warp Speed.
Kirsch interviewed Pavic about the matter and you can watch that interview below:
(Related: Have you heard of the all-new fully vaccinated disease called VEXAS syndrome, short for vacuoles, E1 enzyme, X-linked, autoinflammatory, somatic syndrome?)
Is COVID jab shedding causing unvaccinated to develop turbo cancers, too?
Kirsch likes to really spell out how he makes his calculations. And in this case, he presented a simple visual involving 100 people, 55 of whom are vaccinated and 45 of whom are not.
If the cancer risk in both groups is, say, 10 percent, you would have 5.5 and 4.5 with 55 percent vaccinated.
“To get to a 65% ratio, it would mean that more vaxxed people got cancer: 8.342 people,” Kirsch further explains. “So you then take 8.342 / 5.5 = 1.517. So a 52% increase over baseline risk.”
Based on this, it is a no-brainer why Pavic has not taken any shots and does not recommend them for anyone, regardless of their alleged risk.
“She is not alone,” Kirsch says.
“Hardly anyone in Croatia is opting for the shots anymore either, even though 99% of the doctors recommend them as safe and effective. Maybe I can get one of them to come on camera with me to explain their recommendation.”
Kirsch is known for unpacking and explaining these types of damning revelations about COVID jabs – revelations that the corporate-controlled media will never tell the public.
Kirsch also has a large following of actual doctors who likewise report their findings to him. One of them, a healthcare provider, explained that cases of “turbo” cancer in her circle started out being a strictly vaccinated thing, but are now affecting some of her unvaccinated friends.
“While initially the turbo cancers seem to only happen in the vaccinated, I have three friends / acquaintances in my larger circle of UNVACCINATED that died of fairly sudden cancer,” this person revealed.
“Not all of them would classify as a turbo, possibly, one was for certain an issue with a GPs questionable care. There is more and more live blood cell analysis evidence that now the unvaccinated blood shows similar inclusions or challenged blood profiles as initially was only seen in the vaccinated.”
In other words, COVID jab shedding appears to be passing from vaccinated to unvaccinated, afflicting the latter with some of the same diseases as the former, despite never having taken a single needle.
Another affirmed this, stating that she is likewise seeing an increase in cancer cases among her unvaccinated friends – though these friends supposedly tested “positive” at one point for either the Delta or Omicron variants of the so-called “virus.”
“I continue to say that the creation of the manipulated Spike Protein is the issue that MUST be addressed because that, IMHO, is what is causing almost all of the damage, whether through cancer, cardiac issues, auto immune diseases, etc.,” this person added.
“People who took the shots certainly have a higher concentration of spike, since there is evidently no mechanism for the body to stop making it, but too many people who did not take the shots are also facing significant health issues.”
COVID vaccines have turned those who took them into walking death machines. Find out more at ChemicalViolence.com.
Following his discovery of DNA contamination in COVID-19 mRNA vaccines, genomic researcher Kevin McKernan has recently found that the DNA in these vaccines can potentially integrate into human DNA.
The COVID-19 vaccine spike sequence was detected in two types of chromosomes in cancer cell lines following exposure to the COVID mRNA vaccine. Mr. McKernan’s findings, which he presents on his Substack blog, haven’t been peer-reviewed.
These are expected to be “rare events,” but they can happen, Mr. McKernan told The Epoch Times.
DNA Integration
Since the introduction of the COVID-19 mRNA vaccines, some members of the public have been concerned that the vaccines may modify the human gene by combining their sequences with the human genome.
“Fact-checkers” refuted this, stating that mRNA cannot be changed into DNA. Yet Mr. McKernan’s earlier work shows that DNA in the vaccine vials may be capable of changing human DNA.
Biologist and obstetrics-gynecology professor Ulrike Kämmerer at the University Hospital of Würzburg conducted earlier stages of this research.
Exposing breast and ovarian human cancer cells to Pfizer and Moderna mRNA vaccines, Ms. Kämmerer found that around half of the cells expressed the COVID-19 spike protein on their cellular surface, indicating they had absorbed the vaccines.
Mr. McKernan then performed gene sequencing and found that these cells, as well as their descendant cells, contained vaccine DNA.
After this, he tested to see if any vaccine DNA combined with the cancer cell DNA, a process known as DNA integration. Integration is more of a concern in healthy cells than cancer cells since it disrupts cells’ genetic stability and integrity, increasing cancer risk.
However, because cancer cells already have unstable DNA, the effects of DNA integration are less clear.
Currently, in biomedical research, most experiments are carried out in cancer cell lines as they are easier to obtain, experiment on, and maintain in the laboratory.
Mr. McKernan detected vaccine DNA sequences on two chromosomes in the cancer cell lines: chromosome 9 and chromosome 12. The sequencing machine detected both instances of integration twice. It is important to get two readings of the DNA integration to ensure the integration is not a result of misreading or random error, he added.
“The integration of ‘vaccine’ genetic information into the genome of cells was not such a surprise for me—more the confirmation of what we had to expect, unfortunately,” Ms. Kämmerer told The Epoch Times.
Mr. McKernan said it is unsurprising that integration was only detected on two chromosomes with two readings of each integration. This is because integration is rare, and the genes must be sequenced many times to get more sensitive results.
The current findings are still preliminary, Mr. McKernan said. More tests are also needed to determine whether DNA integration could be passed on to descendant cancer cells and whether this may affect cancer patients.
Also, since the test was conducted in cancer cells and not in healthy human cells, it does not suggest the same integration would occur in healthy human cells.
However, Hiroshi Arakawa, a researcher at the Institute of Molecular Oncology with a doctorate in molecular biology and immunology, wrote in his blog that “what happens in cultured cells can also occur in normal cells” after examining Mr. McKernan’s data.
His review of Mr. McKernan’s data also found signs of DNA integration at chromosomes 9 and 12.
“A wide variety of abnormalities can occur [in normal cells] depending on the site of genome integration,” Mr. Arakawa added.
Not Random Events
The two integration events into chromosome 9 occurred at the same place, as did the integration events into chromosome 12.
Mr. McKernan said that the odds of this occurring is one in 3 billion, highlighting that where the DNA integrates may not be random.
“There’s likely hotspots for this,” he told The Epoch Times, highlighting that in the human genome, jumping genes—short segments of DNA sequences—tend to “jump” into highly activated areas of DNA.
Highly activated DNA tends to play important roles in the human body.
The DNA integration into chromosome 12 occurred within the FAIM2 gene. Once activated, this gene creates a protein involved in programmed cell death. Since cancer cells evade cell death, the integration at chromosome 12 may be a survival-driven change.
Vaccine DNA Is Active in the Cells
Mr. McKernan believes vaccine DNA is highly active in cancer cells. His sequencing machine detected the DNA of cancer cells 30 times but detected spike DNA 3,000 times.
Not only did he detect much higher levels of vaccine DNA, but he also detected new variants in certain segments of the vaccine DNA.
These new DNA variations were not observed in unvaccinated cancer cells nor in the vaccine not exposed to the cancer cells.
Mr. McKernan believes that these new gene variants likely occurred because the cancer cell made copies of the vaccine DNA and created small errors.
What he and his team have found contradicts the latest arguments from fact-checkers claiming that the DNA from the mRNA vaccines cannot get into the cell, nor can it be active, he said.
DNA Contamination From mRNA Vaccine Manufacturing
DNA is present in the COVID-19 mRNA vaccines due to the manufacturing process.
Initially, Pfizer reported that it would use a PCR machine to produce the DNA for its mRNA vaccine. The PCR machine first makes many copies of DNA, which is then sequenced into RNA.
However, because this process wouldn’t be fast enough to meet demands, the vaccine manufacturers switched to using bacteria to mass-produce DNA as the template for the mRNA vaccine.
In this process, vaccine manufacturers introduce bacterial DNA containing the vaccine spike sequences. The bacteria make many copies of this spike DNA as they divide. This spike DNA is then harvested and transcribed into mRNA in a machine. The mRNA is then packaged into lipid nanoparticles for use in vaccination.
However, some bacterial DNA containing spike protein and other sequences could be packaged into lipid nanoparticles during the process, which would then be transported into cells during vaccination. Mr. McKernan’s earlier works have demonstrated this.
Works by molecular virologist David Speicher have shown that the amount of DNA in the mRNA vaccine vials is higher than the FDA’s allowable threshold of 10 nanograms per vaccine dose.
Mr. McKernan highlighted that compared to previous vaccines, mainly composed of naked DNA that had difficulty entering the cells, the DNA carried in the mRNA vaccines presents greater health risks, as it is packed into lipid nanoparticles and delivered straight into the cells.
Former Project Veritas & O’Keefe Media Group operative and Pfizer formulation analyst scientist Justin Leslie revealed previously unpublished recordings showing Pfizer’s top vaccine researchers discussing major concerns surrounding COVID-19 vaccines. Leslie delivered these recordings to Veritas in late 2021, but they were never published:
Principal scientist at Pfizer, Kanwall Gill in 2021: “We had no idea how it’s going to look like. MRNA vaccines have been there for 50 years, but nothing went to clinical trial because MRNA have been known to have side effects.” Credit to whistleblower
Featured in Leslie’s footage is Kanwal Gill, a principal scientist at Pfizer. Gill was weary of MRNA technology given its long research history yet lack of approved commercial products. She called the vaccines “sneaky,” suggesting latent side effects could emerge in time.
Gill goes on to illustrate how the vaccine formulation process was dramatically rushed under the FDA’s Emergency Use Authorization and adds that profit incentives likely played a role:
Pfizer’s principal scientist in 2021: “It takes 10 year for a vaccine to come out. It takes years of observations… we are doing everything at the same time.” “Even Pfizer CEO and even [BioNTech CEO] won’t have answers… it’s also becoming a money game.” H/t
“It’s going to affect my heart, and I’m going to die. And nobody’s talking about that.”
Leslie recorded another colleague, Pfizer’s pharmaceutical formulation scientist Ramin Darvari, who raised the since-validated concern that repeat booster intake could damage the cardiovascular system:
Pfizer’s pharmaceutical formulation scientist, Ramin Darvari, in 2021: “They’re engineering it specifically for me to take the next one, so increasing my consumption.” “It’s going to affect my heart, and I’m going to die. And nobody’s talking about that.” h/t
None of these claims will be shocking to hear in 2024, but it is telling that high-level Pfizer researchers were discussing these topics in private while the company assured the public of “no serious safety concerns” upon the jab’s release:
Vaccine for Children is a Different Formulation
Leslie sent me a little-known FDA-Pfizer conference — a 7-hour Zoom meeting published in tandem with the approval of the vaccine for 5 – 11 year-olds — during which Pfizer’s vice presidents of vaccine research and development, Nicholas Warne and William Gruber, discussed a last-minute change to the vaccine’s “buffer” — from “PBS” to “Tris” — to improve its shelf life. For about 30 seconds of these 7 hours, Gruber acknowledged that the new formula was NOT the one used in clinical trials (emphasis mine):
“The studies were done using the same volume… but contained the PBS buffer. We obviously had extensive consultations with the FDA and it was determined that the clinical studies were not required because, again, the LNP and the MRNA are the same and the behavior — in terms of reactogenicity and efficacy — are expected to be the same.”
According to Leslie, the tweaked “buffer” dramatically changed the temperature needed for storage: “Before they changed this last step of the formulation, the formula was to be kept at -80 degrees Celsius. After they changed the last step, we kept them at 2 to 8 degrees celsius,” Leslie told me.
The claims are backed up in the referenced video presentation:
I’m no vaccinologist but an 80-degree temperature delta — and a 5x shelf-life in a warmer climate — seems like a significant change that might warrant clinical trials before commercial release.
Despite this information technically being public, there has been virtually no media scrutiny or even coverage — and in fact, most were told the vaccine for children was the same formula but just a smaller dose — which is perhaps due to a combination of the information being buried within a 7-hour jargon-filled presentation and our media being totally dysfunctional.
Bohemian Grove?
Leslie’s 2-hour long documentary on his experience at both Pfizer and O’Keefe’s companies concludes on an interesting note: James O’Keefe attended an outing at the Bohemian Grove.
Leslie offers this photo of James’ Bohemian Grove “GATE” slip as evidence, left on his work desk atop a copy of his book, “American Muckraker”:
My thoughts on the Bohemian Grove: my good friend’s dad was its general manager for several decades. From what I have gathered through that connection, the Bohemian Grove is not some version of the Illuminati, at least not in the institutional sense.
Do powerful elites hangout there? Absolutely. Do they discuss their plans for the world while hanging out there? I’m sure it has happened. Do they have a weird ritual with a giant owl? Yep, Alex Jones showed that to the world.
My perspective is based on conversations with my friend and my belief that his father is not lying to him. I could be wrong and am open to evidence — like if boxer Ryan Garcia decides to produce evidence regarding his rape claims — and I do find it a bit strange the club would invite O’Keefe who is notorious for covertly filming, but Occam’s razor would lead me to believe the club is — as it was under my friend’s dad — run by boomer conservatives the extent of whose politics include disliking wokeness, immigration, and Biden (common subjects of O’Keefe’s work).
Therefore, I don’t find O’Keefe’s visit to the club indicative that he is some sort of Operation Mockingbird asset as Leslie tries to depict (however Mockingbird is a 100% legitimate conspiracy). I have also met James several times and even came close to joining OMG. While I disagreed with James on the significance of many of his stories — finding some to be overhyped and showy — I never doubted his conviction in them.
As for why Leslie’s story was squashed… all my sources told me it was to avoid jail time for Veritas executives.
Feel free to watch Leslie’s full documentary here and decide for yourself.
Fun fact — Justin Leslie was also the operative behind this mega-viral Project Veritas story where Pfizer’s director of R&D claimed the company was privately mutating COVID-19 behind closed doors:
Canada: Brennan Elliott’s wife shares update 2 years after Stage 4 cancer diagnosis; Finnish racer Heikki Kovalainen, 42, needs heart surgery; Greek actor Vasilis Bisbikis, 46, has heart attack; more
Brennan Elliott’s Wife Shares Update 2 Years After Stage 4 Cancer Diagnosis
March 6, 2024
Two years after receiving the stunning news that her stomach cancer had progressed to stage 4, Camila Row, wife of longtime Hallmark star Brennan Elliott, is breathing a “big sigh of relief” over her latest test results and marking an important milestone: surviving and thriving beyond the “expiration date” she was originally given. After a January surgery and undergoing 10 rounds of a new chemotherapy drug, which Row has documented on her private Instagram account, she recently had scans to determine whether the latest chemo regimen has kept her cancer from spreading. On March 4, 2024, Row posted a screenshot of the radiology report, with the word “stable” highlighted in three places. Row was initially diagnosed with early-stage stomach cancer in 2018 and underwent successful treatment, which included chemotherapy and having her “complete stomach removed,” she shared in an interview with the Hope for Stomach Cancer advocacy group. However, in early 2022, Elliott told People that his wife’s cancer later returned and spread, resulting in a stage 4 diagnosis. In the two years since, Row has undergone many surgeries and innovative treatments at City of Hope Cancer Center in Los Angeles, determined to beat the odds.
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.
Damian 666 [62] has suffered a heart attack. Masked Republic took to Twitter to post a statement from Damian’s son, Bestia 666, saying that Damian suffered a heart attack and underwent a hemodynamic operation. Bestia noted that his father is stable and recovering.
Ricardo Cásares, host of “Venga la alegría”, suffered a heart attack before going on air
March 3, 2024
The host of the program “Venga la alegría” [Come the joy], Ricardo Cásares, suffered a heart attack on Monday minutes before going on air. Co-host Flor Rubio informed that Cásares, a member of the program for eight years, had not presented himself due to a health problem. He was taken to the hospital, where it was indicated that the strong discomfort he had was caused by a blocked artery, and after being operated on he was reported out of danger. Just a few weeks ago, Casares was absent from “Venga la alegría” after contracting covid-19 for the second time and, although he was stable, his doctor recommended that he rest.
Nitin Sawhney rushed to hospital after “collapsing in a pool of blood”
March 7, 2024
Nitin Sawhney has revealed that he was “rushed tohospital” recently after suffering a heart attack. The 59-year-old musician, producer and composer – who has worked with the likes of Paul McCartney, Sting and Brian Eno – shared a lengthy message on X/Twitter yesterday (March 6) about his serious health issue. It came after Sawhney told his followers on Monday (March 4) that he was “about to go through something pretty major”, but said he couldn’t disclose any details. “Wish me luck,” he wrote in the post. In a follow-up tweet, the musician said he had “decided to explain [himself]” further “after much reflection”. “A few days ago, out of nowhere, I had a heart attack. Nuts…,” he began. “I was rushed to hospital and the NHS put a stent in one of the arteries leading to my heart, after which I was kept in to await a similar operation (which I was referring to in my quoted post) on another artery.” Sawhney continued: “Both ops have gone well and the NHS were fantastic. I will need a third, bigger operation next month but one day at a time I reckon… I weight train 3-4 times a week, regularly kick-box, eat healthily and had no history of heart disease. When I spoke to the doctor, he said it was probably a genetic predisposition… Basically, as a British Asian I have a significantly higher likelihood of cardiovascular disease or heart attacks. My dad had a triple heart bypass, my mum has had two attacks and three of my uncles had heart attacks with one dying on the spot.” Sawhney added: “The point is there has been an alarming rise in fatalities from heart disease recently.. particularly amongst British Asians. So… if you are Asian or, to be honest, in any vulnerable group… get your heart health checked out. It could save your life. You might not see something like this coming… I didn’t.”
I thought my 22-year-old son had autism — I was shocked to find out it was early-onset dementia
March 4, 2024
Norfolk, England – A 22-year-old man with early onset dementia has become the youngest person with the condition in the United Kingdom, according to his mother. Sam Fairborn, 47, from Norwich, Norfolk, England says she has to treat her son Andre Yarham, 22, as though he were a 70-year-old man, South West News Service reported. He is just among 0.1% of the population in the UK who have received a dementia diagnosis under 65. Yarham’s troubling symptoms first appeared in November 2022. He started moving and speaking more slowly than usual and appeared to have a blank stare on his face. After doing an MRI scan in October, doctors discovered he had dementia.
Lidl shopper fighting for life in Royal Stoke as ‘medical emergency’ shuts store
March 1, 2024
Stoke – A Lidl shopper has been taken to hospital in a ‘critical condition’ after a ‘medical emergency’ shut its Stoke store. Customers reported the shutters down at the London Road store this lunchtime. The alarm was raised at 12.12 pm today. Staffordshire Police and West Midlands Ambulance Service were both scrambled to the scene. An ambulance service spokesman said: “He received advanced life support from ambulance staff before being taken to the Royal Stoke University Hospital.”
Prestwich man in ‘serious condition’ after medical episode
March 6, 2024
A man is in a “serious condition” in hospital after suffering a medical episode on a main road this morning, Wednesday. A spokesperson for Northwest Ambulance Service said: “We responded to a patient requiring immediate medical help following a call at 8.03 am. They were conveyed to hospital in a serious condition.”
Kilkenny’s mayor reveals prostate cancer diagnosis as he urges all men to get checked regularly
March 7, 2024
The Mayor of Kilkenny, Joe Malone, has revealed he has been diagnosed with prostate cancer. The Fianna Fáil councillor underwent four-hour key-hole surgery in the Mater Hospital in Dublin last Friday and is now urging all men to go to their GPs and get checked regularly. “I underwent an MRI and biopsy tests and was officially diagnosed with prostate cancer in January. I wasn’t really surprised when I was given the news that I had prostate cancer as I knew something was there,” explained Mayor Malone. “It was asked if I wanted to do radiotherapy but I declined that offer and last Friday I went to Dublin to get the procedure done. It was a four-hour procedure. I was put into recovery and I came home two days later and I’m being looked after really well so, please God, I’m on the road to recovery.”
Paramedics attend to woman after she collapsed on busy Tralee street
March 5, 2024
Emergency services attended to a woman in the centre of Tralee on Tuesday morning. Paramedics responded shortly after 11 am to reports that a woman had collapsed on the footpath at the junction between Castle Street and Denny Street. Eyewitnesses say the woman collapsed and lay unresponsive until two ambulances arrived. CPR was performed for several minutes as gardaí tried to cordon off the area and instruct drivers to divert from the scene. The woman was taken to University Hospital Kerry (UHK).
Last November, Heikki Kovalainen (42) had his doctor check him out thoroughly. And received a shocking diagnosis. During the examination, an aortic aneurysm was detected. This is a saccular enlargement in the vascular walls of the main artery. The day before, he had completed a running training and was thrilled with how good his body felt. There is nothing Kovalainen can do about that. Because he has a hereditary disease. The dangerous thing: if the aneurysm ruptures, he has practically no chance of survival. That’s why any physical exertion is taboo for him. This year he wanted to compete in the Japanese rally championship. This is now out of the question, although Kovalainen has no complaints.
Illness on board the ship, Polish man rescued by helicopter in Italy
March 5, 2024
In the late evening of March 4, the Livorno [Italy] Maritime Directorate coordinated a rescue operation with the Sarzana Coast Guard helicopterto rescue a crew member of a ship sailing between Capraia and Corsica, approximately one ten miles east of Corsica, asked the French maritime rescue coordination center for the rapid medical evacuation of a crew member suddenly taken ill. The alarm then reached the Operations Center of the General Command of the Port Authorities which reported the ongoing emergency to the Labronica Coast Guard. The Operations Room in Livorno immediately put the on-board staff in contact with the CIRM (International Radio Medical Centre) for first aid and arranged for naval and air vehicles to be alerted. The delicacy of the situation and the need to proceed urgently, confirmed by the CIRM, required the intervention of a helicopter from the Sarzana Coast Guard air base, also because the weather and sea conditions (around 20 knots of wind and 2 meters of height of the wave) and the considerable distance from the port of Livorno would have made the operations longer if carried out with a patrol boat. In about 40 minutes, the helicopter successfully carried out the recovery operation, transporting the stretchered seaman, a 34-year-old Polish national, to the Livorno hospital.
Vasilis Bisbikis was discharged from hospital after suffering a heart attack
March 8, 2024
Vasilis Bisbikis [46] was discharged from hospital after suffering a heart attack. On Wednesday night, Vasilis Bisbikis was with Despina Vandi when he started experiencing chest pain, prompting him to go hospital. “We can confirm that they were indeed in hospital the day before yesterday. Despina was stressed and was waiting to see what the doctors would say,” presenter Stamatina Tsimtsili said on “Happy Days,” citing an acquaintance who had seen the couple inside the clinic. During his hospitalisation, Vasilis Bisbikis underwent angioplasty. The “Morning” show reported that the he experienced chest pains again a few days earlier while he was at home with Vandi. When he informed her of his chest pains, she took him to the hospital, where he was immediately admitted. The actor is now out of danger, as confirmed by Despina Vandi’s appearances in the nightclub where she sings and from her participation as a judge on a television show.
beneficial or NOT, it has failed & killed now & he brought it & Biden rolled it out! he has to denounce the mRNA Malone Bourla vaccine, he will get support; he has to show he TRUSTED malfeasant people
he has to admit he was lied to, misled, deceived and he will do all to flesh them out and punish them BIGLY using levers of government, he cannot praise the mRNA Malone Bourla vaccine as he does, he must say it has to stop, the mRNA Malone Bourla Bancel Weissman Sahin Kariko et al. technology based vaccine must stop and never put back on market, all research on gain-of-function must stop and any research on mRNA must involve the complete public on the ethics and whether they want this……not because you BIG pharma crooks, thieves, fecal matter people bring something to make money means we are to accept it….even as simple as ‘it is not as safe as I thought’…he Trump must say this for there is no one alive today who does NOT know someone harmed by the deadly vaccine; he keeps talking about it as if it were a success but even the bread and butter ‘fly over’ country hard working man and woman on the street knows that bullshit.
Come on POTUS Trump, stop saying it worked.
People need to know what will be done differently now.
It is simple, the lockdowns and OWS vaccine were failures, did not work and harmed. People want honesty. They can even forgive or work with that. Yes, 45 was deceived and was overcome by the forces of the deepstate.
Issue to me is that as imperfect and flawed as Trump is and was (alike most of us if not all), what do we have? A decision to make November 2024 based on one person who made mistakes but in January 2020 was unstoppable and even you haters wanted him as POTUS in November 2020, someone who loves nation, flag, borders, police, his military, constitution, his peoples, helped blacks and poorer Americans more than Obama and all prior POTUS combined, versus another man who is in dementia, senile, corrupt to the core, with reports of questionable behaviors, and working fully against America. His administration. Every action the Biden administration takes alike when Obama had power, was and is against America.
So to me the decision is a moot one, we go full MAGA under 45. Best we got. We work with him.
I supported 45 and still again, and I support Trump as our only option (will campaign for him and vote for him) among the misfits who are vying for the prize. Show me someone as capable plus one extra box checked and I will vote for them, even a leftist democrat. Puke they might be. Must check the key boxes and verified. Not no ‘just come’. It is who do we have to choose among and who is best. Trump has the capacity to get in there and fuck it all up once and for all and burn it down the way he should have term 1. He has to now do what he did not do first term and Rambo mandingo DC, shut down many alphabets, fire 1000 top down across all agencies, and move all agencies from present locations to the most difficult logistics in America. Make life hard for those DC bitches.
But he cannot say the vaccine worked, Mr. President, stop it, it did not! He has to commit to revere LIABILITY PROTECTION under PREP ACT (jail Azar) and set up victim compensation funds for the COVID fraud (lockdown lunacy) and the mNRA vaccine, and commit to jailing all who did wrong in COVID and the vaccine. All who costed lives. With court judgements. Judges, juries. We hang all wrongdoers as per judges. And all you sick sycophants lining up for appointee and government jobs wanting to cup his balls, yes, we see you, stop now, we have a nation to save, we have wrongs to fix, gone are the days of usual crooked politics…we need real honest America loving people up in DC who will do the right thing for the people. I will not stop and I will work to fuck you up, expose you beasts, all of you who come around this time.
No lining up for plum jobs, no patronage, America is in trouble, Biden has flooded her with 10 million killer illegals on the back of what Obama did with his Tashfeens, and counting would be rapists, murderers, jihadists who are coming and are here to rape and kill Americans. We need to get them out. We need the right person. Show me who can possibly do it other than Trump, they got my vote. Crude and imperfect and mistake laden as he is, he is the best option. So, take your heads out of your asses, put on your big boy drawers and panties, slow down on the vapors and pearl clutching, and get up…find us someone better than 45 or get behind him…we have a nation to save. Get behind him. We will this time hold his feet to the fire.
———- Forwarded message ——— From: News Addicts <mail@newsaddicts.com> Date: Mon, Mar 11, 2024 at 2:24 PM Subject: Turbo Cancers Are Skyrocketing Among Fully Vaxxed Young People, Pathologist Warns To: Milan Sabioncello <sabioncello@gmail.com>
LATEST REPORTS FOR NEWS JUNKIESTurbo Cancers Are Skyrocketing Among Fully Vaxxed Young People, Pathologist WarnsA leading pathologist is raising the alarm after finding that turbo cancers are now skyrocketing among fully vaccinated young people aged 15 to 59 years old.READ THE FULL REPORTCovid Shots Cause Long-Term Kidney Damage, Study FindsThe damning new study has uncovered troubling evidence showing that Covid mRNA shots cause long-term kidney failure and renal damage.READ THE FULL REPORTTop Dem Calls For Treason Against President TrumpRepresentative Adam Schiff (D-CA) expressed his desire on NBC’s “Meet the Press” that the intelligence community would simplify the briefings of former President Donald Trump once he secures the nomination. Anchor Kristen Welker said, “Let me ask you about this development. This weekend, U.S. intelligence officials are planning to provide briefings for Donald Trump. One will see if he officially …READ THE FULL REPORTBiden Campaign PANICS, Launches $30 Million Emergency EffortOfficials running the Biden campaign have announced a significant ad buy in battleground states as part of President Joe Biden’s campaign efforts. The Biden campaign is launching a six-week, $30 million ad blitz in Michigan, Pennsylvania, Wisconsin, Arizona, Georgia, Nevada, and North Carolina. This ad campaign aims to highlight various Biden initiatives on climate change, abortion, and address concerns about …READ THE FULL REPORTHundreds of Far-Left Rioters Crash Hollywood’s OscarsPrior to the 96th annual Academy Awards, a large group of demonstrators against Israel paraded through the streets, demanding a halt to the conflict in Gaza. The protesters were attempting to disrupt what they called “Hollywood’s active support of the U.S.-funded Israeli genocide against Palestinians in Gaza,” stressing their goal to “disrupt the Academy Awards” and expose “retaliation against anyone …READ THE FULL REPORT
end
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
US Gasoline Prices Rise For The Second Consecutive Week
U.S. gasoline prices rose for a second week in a row, to average $3.40 per gallon on Monday, up by 6.2 cents from a week ago, amid rising demand, ongoing refinery maintenance, and the switch to summer gasoline, GasBuddy said today.
Still, the national average price of regular gasoline is 4.5 cents per gallon lower than a year ago, said GasBuddy, which has compiled price data from more than 12 million individual price reports covering over 150,000 gas stations.
The national average price of diesel, on the other hand, has fallen by 1.3 cents in the past week and stands at $4.02 per gallon on Monday, which is 30 cents lower than this time last year, according to GasBuddy’s data.
American drivers could be in for some relief in the coming weeks, due to a rise in U.S. refinery utilization in the most recent week, and a possible earlier end to refinery maintenance, said Patrick De Haan, head of petroleum analysis at GasBuddy.
“The national average price of gasoline has seen a continued but measured rise compared to last week, but the pace of increases has slowed slightly in the last few days. With government data showing a rise in refinery utilization last week, there may be some good news on the horizon for drivers,” De Haan said.
“Much of the seasonal rise that happens this time of year is a culmination of refinery maintenance, the switch to summer gasoline, and rising demand,” the expert noted.
The changeover is still ongoing so the upward trend is likely to persist, but higher refinery output could ease some of the upward pressure on gasoline prices, according to De Haan.
More expensive international crude prices are also to blame for the rise in U.S. gasoline prices, AAA said last week.
“Spring is nearly here, with longer days, better weather, and more opportunities to hit the road,” AAA spokesperson Andrew Gross said.
“And we are seeing this reflected in rising gasoline demand. But remember, we see this trend every year.”
END
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 TUESDAY MORNING 7;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0934 UP .0003
USA/ YEN 147.47 UP 0.741 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2792 DOWN .0026
USA/CAN DOLLAR: 1.3481 UP .0004 (CDN DOLLAR DOWN 4 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 12.52 PTS OR 0.41%
Hang Seng CLOSED UP 505.93 POINTS OR 3.05%
AUSTRALIA CLOSED UP 0.12% // EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 505.93 PTS OR 3.05%
/SHANGHAI CLOSED DOWN 12.52 PTS OR 0.41%
AUSTRALIA BOURSE CLOSED UP 0.12%
(Nikkei (Japan) CLOSED DOWN 22.98 PTS OR 0.06%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2172.60
silver:$24.41
USA dollar index early TUESDAY morning: 102.45 DCWN 1 BASIS POINTS FROM MONDAY’s CLOSE.
Core CPI rose 0.4% MoM (hotter than the +0.3% exp) and up 3.8% YoY (hotter than the +3.7% exp), but still the lowest since April 2021…
Source: Bloomberg
Goods deflation continues (-0.3% YoY) but has flattened out, while services inflation remains stubbornly high at +5.2% YoY…
Source: Bloomberg
And one step deeper – the so-called SuperCore: Core CPI Services Ex-Shelter index – soared 0.5% MoM up to 4.5% YoY – the hottest since May 2023…
Source: Bloomberg
Finally, we note that consumer prices have not fallen in a single month since President Biden’s term began (July 2022 was the closest with ‘unchanged’), which leaves overall prices up 19% since Bidenomics was unleashed. And prices have never been more expensive…
Source: Bloomberg
That is an average of 5.6% per annum (more than triple the 1.9% average per annum rise in price during President Trump’s term).
So, about that shrinkflation – did companies only ‘get greedy’ when Biden took office?
But it gets worse, real wage growth has lagged significantly for the average joe in America…
Source: Bloomberg
Food costs are up over 21% since Biden’s term began, but non-supervisory wages are up only 18%.
Bidenomics for the win!
END
TUCKER CARLSON….
III USA ECONOMIC COMMENTARIES
This has no chance of passing!
Here’s What’s In Biden’s ‘Reckless’ $7.3 Trillion Budget, And Here’s How He’ll ‘Pay’ For It
MONDAY, MAR 11, 2024 – 06:40 PM
The Biden administration has released a proposed budget that would boost federal spending to $7.3 trillion next fiscal year. To pay for it, they plan to raise taxes on the wealthy and large corporations.
And while there’s virtually no chance of it passing given the current makeup of Congress (WSJ calls it ‘largely symbolic’), it will give Biden a steady supply of talking points to read off teleprompters across the land during his re-election campaign.
According to the White House, the 2025 budget would cut the deficit by $3 trillion over the next decade, and raise taxes by a net of $4.9 trillion – a boost of roughly 7% in collections without any policy changes, the Wall Street Journal reports.
Other features of the proposed budget include:
A boost in defense spending to $895 billion, up from $886 billion.
Congressional approval for roughly $1.6 trillion in discretionary spending – slightly lower than the current year’s budget.
This will be offset by $1.6 trillion in spending caps which were agreed to last year by House Republicans and the Biden administration, according to the Congressional Budget Office.
Medicare taxes and drug pricing are also included, with tax increases on people earning more than $400,000 per year (which we all know is total bullshit). The plan will also significantly expand the number of drugs subject to government price negotiation, to 50 per year, up from 20, and it would extend a $2,000 cap on out-of-pocket prescription drugs under Medicare.
Immigration and international aid: The Department of Homeland Security would receive an additional $8.7 billion under the proposal – much of which would plug a budget hole created by the ‘unexpected’ surge in migrants last year. $2.9 billion of it would fund longer term investments, including hiring more Border Patrol agents and asylum officers.
Ukraine: Of course, the budget proposal also reiterates Biden’s supplemental request for $60 billion in emergency aid for his favorite country.
Other items of note: the budget calls for shoring up Social Security but does not specify a plan. It also calls for extending Trump-era tax cuts for most households after they expire in 2025, but does not detail how they should be paid for. It also calls on restoring the expanded child tax credit on a temporary basis.
Under his plan, families making less than $200,000 a year would be guaranteed subsidized child care, with the lowest income families paying nothing. The president proposed building or preserving more than two million housing units, and a series of tax credits to ease the high cost of purchasing a home. He calls for spending $12 billion to come up with strategies to reduce the cost of college, while expanding Pell Grants and offering tuition-free community college. And he again outlined a federal paid family and medical leave program. -WSJ
According to White House spox Olivia Dalton, the budget “invests in all of America to make sure everyone has a fair shot, we leave no one behind,” adding that congressional Republicans “have made their values clear in the meantime; they have repeatedly fought to slash critical programs that the American people rely on.”
House Republican leaders, meanwhile, said in a statement that “the price tag of President Biden’s proposed budget is yet another glaring reminder of this administration’s insatiable appetite for reckless spending and the Democrats’ disregard for fiscal responsibility.”
The budget proposal comes less than eight months before Election Day and amid polls that show Trump with a narrow lead over Biden. As he shifts his focus to the general election, the president is expected to increasingly seek to draw a contrast with his presumed opponent, casting Trump as out of touch with voters’ priorities and a danger to democracy. Trump, in turn, has railed against the president, targeting his spending on issues such as clean energy. -WSJ
According to Shalanda Young, director of the Office of Management and Budget, Americans are “going to have a robust tax debate at the end of 2025.”
end
PHILADELPHIA
Deluge Of Violent Crime Sees Philly Transit Boss Call For National Guard, Following NYC’s Lead
MONDAY, MAR 11, 2024 – 10:00 PM
Transit Workers Union Local 234 President Brian Pollitt is demanding accountability from Gov. Josh Shapiro, Mayor Cherelle Parker, and SEPTA officials after a string of violent crimes on and around Philadelphia mass transit over the last few weeks.
In fact, he says he has been calling for National Guard deployment on SEPTA – similar to how New York City has deployed the National Guard on MTA – for four years, according to WKYW.
“I think that governor needs a round of applause because they’re going through the very same thing that we’re going through,” Pollitt said of New York City.
He says many drivers are seeking retirement because of how dangerous the job has gotten and that it is tough recruiting new drivers. “And I got young people coming in the door and once they come in here and see how things are, they’re going out there looking for other opportunities,” he said.
The incident occurred at around 3 p.m. near Northeast High School at Cottman and Rising Sun avenues, where students were waiting for a bus. Three assailants opened fire, shooting over 30 rounds from across the street, wounding eight teenagers.
Surveillance captured them exiting a blue Hyundai Sonata and attacking as a bus arrived, then fleeing. The victims, aged between 15 and 17, included seven boys and a girl; two are critically injured.
Descriptions of the gunmen have been released. The shooting prompted a lockdown at a nearby elementary school and hit two SEPTA buses without injuring passengers.
Police have impounded a car believed to be involved in the shooting, seizing a blue Hyundai Sonata found parked on Roselyn Street in the Olney area of the city on Wednesday night. The vehicle, now at a local impound lot, is said to match the description of the dark blue 2019 Hyundai Sonata identified as the getaway car in surveillance footage.
Mayor Cherelle Parker commented last week: “The purpose of our being here today is to inform you all that enough is enough. That every law enforcement partner that we have here in the city of Philadelphia is actively engaged in working together to ensure that every resource that is needed is readily available so that the work can be done to solve crimes.”
end
BOEING
Boeing shares collapse again on major problems with Boeing 737 Max
(zerohedge)
Boeing Chaos Hits Southwest Air, Shares Collapse Most Since COVID
TUESDAY, MAR 12, 2024 – 10:05 AM
Southwest Airlines released a new filing that warned it must trim its capacity and reassess financial forecasts. The airline attributed these adjustments to a decrease in Boeing 737 Max jet deliveries this year amid the aircraft manufacturer’s ongoing regulatory and criminal investigations. This news comes ahead of Chief Executive Officer Bob Jordan’s presentation at the JP Morgan Industrials Conference at 1000 ET.
“To that end, and especially in light of further second half 2024 planned capacity reductions discussed below, the Company has halted hiring classes for multiple workgroups, including Pilots and Flight Attendants, and now intends to end the year with headcount down on a year-over-year basis, compared with its previous expectation of flat to down, year-over-year,” the filing said.
Boeing informed the Dallas-based airline to expect only 46 Max model deliveries this year, down from 79:
Boeing has advised the Company to expect 46 737-8 (“-8”) aircraft deliveries in 2024, a reduction from the Company’s previous expectation of 79 737 MAX aircraft deliveries, which included 58 -8 aircraft. Further, the Company now assumes no 737-7 (“-7”) aircraft deliveries and continues to assume no -7 aircraft are placed into service this year based on the current certification status.
As a result of Boeing’s continued challenges, the Company expects the delivery schedule to be fluid and, therefore, plans to reduce capacity and re-optimize schedules, primarily for the back half of 2024, which will likely result in at least a one point reduction to the Company’s full year 2024 capacity plans on a year-over-year basis.
Boeing’s troubles stem from a US Justice Department criminal investigation into the door plug that ripped off a 737 Max operated by Alaska Air Group. The Federal Aviation Administration also placed a production cap on the Max manufacturing program to ensure that the “incident must never happen again.”
Southwest’s situation highlights how Boeing’s problems are rippling across the industry. The airline must “reevaluate all prior full-year 2024 guidance.”
Shares of Boeing plunged 13% in the early cash session.
Today’s decline is the largest since the early Covid panic.
Last week, United Airlines said it would have to pause pilot hiring because of a delay in Boeing aircraft deliveries.
Great job, Boeing.
END
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM…
iiiC USA COVID //VACCINE ISSUES
END
FREIGHT ISSUES/USA
END
VICTOR DAVIS HANSON
END
SWAMP STORIES
Hur Confirms Biden Lied About Classified Docs During Contentious Hearing
TUESDAY, MAR 12, 2024 – 12:21 PM
Update (1220ET): Today’s testimony by former Special Counsel Robert Hur had more fireworks than we anticipated – with House Democrats like Jerry Nadler (NY) and Eric Swalwell (CA) and others doing their best to distract from Hur’s findings that Biden willfully mishandled classified information with montages of Trump misspeaking to prove that the former president is just as cognitively challenged.
Nevertheless, Hur confirmed that Biden lied about not sharing classified information…
Meanwhile, the released transcript of Biden’s interview with Hur also confirms that Biden couldn’t remember the year his son died, or when he was VP.
Watch Live:
* * *
Former Special Counsel Robert Hur, who led the Biden classified documents probe – and concluded that the president is too cognitively gone to face prosecution – began testimony in front of the House Judiciary Committee today at 10 a.m. in the Rayburn House Office building.
Hur will testify as a private citizen after resigning from the DOJ following the conclusion of his work, according toThe Hill, though he will still be bound by DOJ policies and protocols because he’s testifying about his work for the agency.
According to his prepared remarks, told the committee that his “report reflects my best effort to explain why I declined to recommend charging President Biden” for his mishandling of classified records.”
“My assessment in the report about the relevance of the President’s memory was necessary and accurate and fair,” Hur wrote in a copy of his remarks obtained by Fox News. “Most importantly, what I wrote is what I believe the evidence shows, and what I expect jurors would perceive and believe. I did not sanitize my explanation. Nor did I disparage the President unfairly. I explained to the Attorney General my decision and the reasons for it. That’s what I was required to do.“
Watch:
Former President Trump, meanwhile, claimed on Tuesday that the DOJ gave Biden a “free pass” on his handling of classified documents.
“Big day in Congress for the Biden Documents Hoax,” Trump said on Truth Social. “He had many times more documents, including classified documents, than I, or any other president, had. He had them all over the place, with ZERO supervision or security. He does NOT come under the Presidential Records Act, I DO.”
“The DOJ gave Biden, and virtually every other person and President, a free pass. Me, I’m still fighting!!!” Trump added.
Hur, who released his report to the public in February, did not recommend criminal charges against Biden for mishandling and retaining classified documents and stated that he wouldn’t bring charges against Biden even if he were not in the Oval Office.
Trump, on the other hand, was charged out of Special Counsel Jack Smith’s investigation related to his retention of classified materials. Trump pleaded not guilty to all 37 felony charges out of Smith’s probe. The charges include willful retention of national defense information, conspiracy to obstruct justice and false statements. –Fox News
Prior to Hur’s testimony, the transcript of his interview with Biden was releasedto select news outlets and spun hard. But what we do know from the selective reporting is that Biden was confused over several key dates – such as when he was Vice President, and when his son died. Biden, not Hur, brought up his son’s death. And Hur expressed deep sympathy for Biden’s loss – directly contradicting Biden’s claims about Hur.
The transcripts are now released. President Biden claimed no knowledge of any of the classified documents in his home and open in his garage. That is 40 years of memory lapse in the face of open violations of federal law. The transcript also confirmed that it was the President, not Hur, that raised his son’s death despite his later anger expressed in his press conference. The President also stated that he did not recall roughly four dozen times.
Biden asks in the transcript when his son died and asks others “was it 2015 he died?” In his press conference, Biden lashed out at Hur, asking “How in the hell dare he raise that? It wasn’t any of their damn business. Ironically, Biden could now claim that he just didn’t remember raising that with Hur…precisely the problem that Hur raised in questioning Biden’s mental faculties. If he did remember the interview, his public attack seems knowingly false.
President Biden kept classified documents, “critical to his legacy,” about Afghanistan and the Afghanistan troop surge “in a badly damaged box surrounded by household detritus” in his Delaware garage. At his Delaware home, President Biden also kept notebooks containing classified information in unlocked drawers in his office and basement den. President Biden kept these classified documents to cite in his memoirs to prove “he was a man of presidential timber.” On at least three occasions, President Biden “read from classified entries aloud to his ghostwriter nearly verbatim.”
Evidence suggested President Biden “was deeply familiar with the measures taken to safeguard classified information and the need for those measures to prevent harm to national security.” The Special Counsel noted that President Biden has nearly fifty years of experience with classified information, and previously publicly acknowledged limits on how a sitting or former president or vice president may properly handle classified information. Moreover, he said of President Trump allegedly keeping classified documents: how can “anyone . . . be that irresponsible” and “voiced concern about ‘[w]hat data was in the there that may compromise sources and methods.’”
The Special Counsel worried that jurors might be persuaded by President Biden’s presentation “as a sympathetic, well-meaning, elderly man with a poor memory.” Special Counsel Hur found that President Biden’s “memory was significantly limited, both during his recorded interviews with the ghostwriter in 2017, and in his interview with [the Special Counsel’s] office in 2023.” Finally, Special Counsel Hur pointed to DOJ principles of prosecution that weigh in favor of not prosecuting because “there is no record of the Department of Justice prosecuting a former president or vice president for mishandling classified documents from his own administration. The exception is former President Trump.”
However, there are material distinctions that weigh in President Trump’s favor. The documents in President Trump’s case came from his time in the White House—when he possessed the ultimate classification authority. The documents in President Biden’s case span forty years, as far back as the 1970s, and include material from his time in the Senate and the Vice Presidency. At no time did President Biden possess ultimate classification authority. The Justice Department has never prosecuted a former president for maintaining classified information after office—until Special Counsel Jack Smith indicted President Trump.
END
Trump Did Propose 10,000 National Guard Troops On January 6th; Report
One of the long-standing unanswered questions from the January 6th riot has been why the Capitol was so poorly prepared and defended on that day. A newly released transcript has caused a firestorm in Washington over allegations that the J6 Committee downplayed or even suppressed evidence that former President Donald Trump personally suggested the deployment of 10,000 national guard troops to prevent violence.
The transcript also includes contradictions of major allegations that ran wild in the media.
That includes the claim that Trump tried to physically grab the steering wheel of the presidential limo, “The Beast,” when Secret Service refused to take him to the Capitol. Former White House aide Cassidy Hutchinson was the source of the claim, which appeared in most of the media and was highlighted in her testimony. However, it appears that the J6 Committee had testimony of secret service agents directly contradicting that account, including the driver.
However, it is the National Guard question that is more weighty for historical purposes.
Trump has long claimed that he proposed the deployment of the National Guard troops (as was done previously at the White House during violent protests). The January 6th Committee said that was a lie.
The release of the transcript by Rep. Barry Loudermilk (R., Ga.) triggered attacks on the J6 Committee. The Federalist’s Mollie Hemingway wrote a column titled “Former Rep. Liz Cheney’s January 6 Committee suppressed evidence.”
That triggered an angry response from former co-chair Liz Cheney which led to an even angrier reply from commentator Mark Levin.
The anger is nothing new in a J6 investigation that seemed to produce more heat than light. Cheney’s spokesperson called the Federalist report “flatly false” and added “no transcripts were destroyed” while acknowledging that some material was not published “to allow the Secret Service to protect sensitive security information for interviews of its agents before preserving that testimony in the archives.”
The issue of the suppression or destruction of the evidence has drawn a lot of attention, but the more troubling question is the fact that such an offer was made and declined.
The Committee found “no evidence” that the Trump administration called for 10,000 National Guard members to Washington, D.C., to protect the Capitol.
That now stands contradicted and the question is whether Cheney or other members knew the public was being misled on the question. For example, the Washington Post “debunked” Trump’s comments with an award of “Four Pinocchios.”
The Post’s Glenn Kessler admitted that Trump raised the issue but noted that he might have been suggesting the troops “not because he wanted to protect the Capitol,” but to suggest that he and his supporters were being threatened. He added that “Trump brought up the issue on at least three occasions but in such vague and obtuse ways that no senior official regarded his words as an order.”
However, the issue is not whether Trump issued “an order” but made an offer that was declined. For those of us who were covering the event on that day, the question has always been prominent in our minds. I was critical of Trump’s speech while he was still giving it. However, before the Capitol was breached, I also noted that I had never seen the Capitol so thinly protected in a major protest.
We had just seen violent protests outside of the White House with a large number of police officers injured and extensive property damage, including arson. President Trump and his family had to be moved to a secure location out of concern of an imminent breach of the White House. National Guard were deployed and fencing installed.
Even without an offer, it remains unclear why the violence around the White House did not prompt Congress to install the same barriers and deploy the same troops. (They ultimately took both steps but only after the rioters gained entry into the Capitol).
Moreover, if an offer was clearly made, it undermines the allegations that Trump was actively seeking an insurrection. While he has never been charged with an insurrection or even incitement, that allegation was used more recently to support his disqualification from the ballots in Colorado, Maine, and Illinois.
The transcript contains the testimony of former White House Deputy Chief of Staff Anthony Ornato’s interview on January 2022 with Cheney present. Ornato states that he clearly recalled the offer of 10,000 troops being made by Trump in a conversation with D.C. Mayor Muriel Bowser:
“I was there, and he was on the phone with her and wanted to make sure she had everything that she needed. Because I think it was the concern of anti and pro groups clashing is what I recall…I remember the number 10,000 coming up of, you know, the President wants to make sure that you have enough. You know, he is willing to ask for 10,000. I remember that number.”
Ornato said that Browser said that they would not need the troops. (She ultimately asked for only 300 troops). There are also reports that then Speaker Nancy Pelosi was worried about the “optics” of military reinforcements at the Capitol.
Ornato also said that he recalled that, after Bowser refused additional National Guard members, the White House requested the Defense Department have a “quick reaction force” ready on that day. He gave details on meetings with the Defense Department and follow up from Chief of Staff Mark Meadows.
Hemingway noted in her report that Ornato’s testimony was supported by former Trump administration aide Kash Patel. Cheney has attacked Patel as unreliable.
Ornato also testified that Meadows and others were frustrated by the delay in getting those troops to the Hill. The delay was blamed on the logistics, not some conspiracy to enable or facilitate an insurrection.
The Federalist article makes additional allegations, including that Cheney was behind an op-ed by her father, former Vice President Dick Cheney, opposing any use of national guard troops on January 6th.
However, even proving such duplicity would hardly be news for Washington. Likewise, it does not negate criticism over Trump’s comments on that day or his delay in publicly calling for supporters to withdraw.
Yet, again, what is more important historically is whether the J6 Committee had direct evidence that Trump made the offer of thousands of troops and that the White House pushed for rapid deployment troops on that day.
I have previously criticized the one-sided J6 Report and the biased framing of the hearings held by the members. The Committee could have been so much more than the echo chamber that it became. However, this latest transcript adds questions over the perplexing failure of Congress to take obvious steps to prevent a riot.
Had Congress simply installed the same fencing previously used at the White House and deployed such troops, the J6 riot would likely have never occurred. Given the cost and trauma to our nation, we should want to know the full story of what occurred on January 6th
END
FBI Chief Tells Lawmakers ‘Don’t Panic’ As Terror Threat Soars Due To Border Invasion
TUESDAY, MAR 12, 2024 – 03:20 PM
Before the Muslim holy month of Ramadan, the Federal Bureau of Investigation issued warnings about an Iranian assassin preparing to kill former and current US government officials. At the same time, New York City deployed National Guard soldiers armed with machine guns across subway stations.
On Tuesday morning, the head of the FBI, Christopher Wray, told the Senate Intelligence Committee that terrorist threats against the US had reached a “whole other level,” according to Bloomberg. This comes as the migrant invasion, facilitated by the Biden administration, has flooded the nation with millions of unvetted folks from third-world countries, some of whom deeply hate America.
“You’ve seen a veritable rogue’s gallery of foreign terrorist organizations calling for terrorist attacks against us in a way that we haven’t seen in a long, long time,” Wray warned lawmakers.
Wray joined other intelligence community leaders in discussing the current security threats facing the US.
Sen. John Cornyn, R-Texas, reminded Wray that only a handful of terrorists were in the US before the 9/11 attacks that killed more than 3,000 people.
“I worry that among the people that are coming across the border that are evading law enforcement, that there are some people among those that mean to do us harm. Do you share that concern?” Cornyn asked Wray.
Wray replied: “I do.”
Wray told lawmakers now “is not the time to panic.”
He said, “We’re very actively investigating working with DHS [Department of Homeland Security] on both people whose travel was facilitated but also members of the facilitation network in some other way overseas.”
The threat stream that keeps DHS folks up at night emanates from Iran and or Iran-backed groups. Biden’s open border disaster has been an open ticket for terrorist cells to flood the nation.
VERY ALARMING: Ohio Sheriff Richard K. Jones Ends Warning The Amercian People After Meeting With Director Of The FBI Christopher Wray: “There are more red flags going off now than before 9/11…. When I say red flags meaning people that are here in this country that are wanting to do harm to us.. and we were told by the FBI director it’s not a matter of if it’s a matter of when.”
Open borders have compromised our national security.
KING REPORT
The King Report March 12 2024 Issue 7198
Independent View of the News
@Sino_Market: Most commodity futures opened down in China on Monday. Iron Ore tumbled by 3.5% and erased all the gains since October. #Steel rebars fell by 1.5%. Tin -1%, copper -0.8%, nickel -0.7%, aluminum -0.5%, zinc -0.3%. INE crude oil drops by 1% to 606 yuan per barrel.Iron Ore Plunges Most Since 2022 as Inventories Pile Up in ChinaIron ore slumped more than 7% — dropping below the $110 a ton mark — after disappointing demand in China left the market lumbered with swelling inventories…Singapore iron ore futures fell as much as 7.3% to $106.80 a ton and were trading at $107.20 as of 11:43 a.m. in London. Futures in Dalian closed 5.3% lower... https://ca.finance.yahoo.com/news/iron-ore-woes-deepen-inventories-033724100.html?futusource=news_newspage_recommend USHs jumped on the industrial metal decline due to angst over China’s ‘recovery’ and global demand. After a historicity run – worth watching: Bank of Japan leaning toward exiting negative rates in March – A growing number of Bank of Japan policymakers are warming to the idea of ending negative interest rates this month on expectations of hefty pay hikes in this year’s annual wage negotiations, four sources familiar with its thinking said… https://t.co/UZBiVF25rcJapanese Stocks Drop Most Since October as Exporters Fall on Yen Growing speculation of March BOJ rate hike boosts yen Stock moves suggest a lot riding on weak currency: AsymmetricJapanese equities slid the most since Oct. 4, with both benchmarks declining more than 2% as growing speculation the Bank of Japan will raise interest rates lifted the yen and hurt exporters. The Topix closed 2.2% lower at 2,666.83 in Tokyo, with 31 of 33 sub-sectors dropping. 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… https://t.co/qDRlwRuZ94Biden unveils massive tax hikes on the rich as part of bid to cut $3trillion of the deficit in 10 years: President’s budget to include 25% tax on billionaires after warning in State of the Union the wealthy will ‘pay their fair share’ – Among Biden’s budget proposals: the deficit would be reduced by $3 trillion over a decade, homebuyers would get a tax credit of $9,600, and parents would get a child tax credit… Biden also proposes a new minimum tax (21%) on large corporations and quadrupling a tax on stock buybacks… https://www.dailymail.co.uk/news/article-13182887/biden-budget-tax-hikes-rich-cut-deficit.htmlBiden unveils massive $7.3T budget with $5.5T in tax hikes post-State of the Union addressBiden’s similar plan from last year put forward “the highest peacetime burden in American history, as well as the highest sustained taxes in American history.”… https://t.co/QAF0bmCQr1 NY Fed: Inflation Expectations Increase at the Medium and Longer-Term HorizonsMedian inflation expectations remained unchanged at 3.0% at the one-year horizon, increased to 2.7% from 2.4% at the three-year ahead horizon, and increased to 2.9% from 2.5% at the five-year ahead horizon. The increases in both the three-year ahead and five-year ahead measures were most pronounced for respondents with at most high school degrees. The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) decreased at all horizons… https://www.newyorkfed.org/newsevents/news/research/2024/20240311Nvidia faces lawsuit from authors over alleged copyright infringement in AI modelsNvidia is facing a lawsuit over the alleged use of copyrighted content in its models used to traingenerative AI tools https://www.foxbusiness.com/technology/nvidia-sued-authors-over-ai-use-copyrighted-worksMajor airline (Spirit) faces Chapter 11 bankruptcy concernsCreditors of the airline are bracing for the worst as over $1 billion in debt looms.https://www.thestreet.com/travel/spirit-airlines-faces-chapter-11-bankruptcy-fears?s=02Maintenance guys who keep luxe Disney California hotels running sue over wages, can’t feed their families – More than 100 Disney hotel maintenance workers responsible for keeping the company’s luxe hotels up and running in southern California are suing the entertainment giant for allegedly paying them less than fast-food workers earn in the state and forcing them to moonlight at second jobs despite working overtime… https://www.foxbusiness.com/fox-news-us/maintenance-guys-who-keep-luxe-disney-california-hotels-running-sue-over-wages-cant-feed-their-families Trading sardines got hammered in early NYSE trading on Monday: SMCI tumbled 9.8%; META sank 6%; Nvidia fell 3% Bitcoin soared to a high of 72,385 in early NYSE trading. As we noted a week or so ago, speculators and retail momos have been rotating out of Mag 7 and related trading sardines and into crypto currencies. Yes, Virginia, this action is typical at the end of cycles. @LiveSquawk: POLL: 72 Of 108 Economists See First Fed Cut In June – RTRS– 52 Of 108 Economists See Rate Cuts Of 75bps Or Less In 2024– 26 Of 108 Economists See Rate Cuts Of 100bps Or Less In 2024– 38 Of 44 Economists Say Bigger Risk March Dot Plot Shows Fewer Rate Cuts It was Groundhog Day, again, on Monday. ESHs and stocks sank during early NYSE trading. The usual suspects aggressively bought the early dip and created an ESH bottom of 5157.00 at 10:13 ET. ESHs and stocks zigzagged higher until ESHs hit a daily high of 5196.00 at 14:50 ET. ESHs then slid to 5177.00 at 15:52 ET. The late manipulation pushed ESHs to 5187.00 at 16:00 ET. Please note that final hour declines are increasing in frequency – another sign of equity exhaustion. Despite the tsunami of negative news, as listed above, beaucoup people are conditioned to buy early declines during NYSE trading. Until ‘they’ are deprogrammed to do so, and it will take beaucoup punishment, the usual suspects will remain unremittingly bullish and eager to buy dips. Positive aspects of previous sessionStocks rebound sharply after another early decline during NYSE trading Negative aspects of previous sessionMag 7 and related trading sardines were liquidated; cryptos were bought early but sold lateGasoline and oil rallied sharply despite the tumble in most industrial metalsUSHs declined 3/32 Ambiguous aspects of previous sessionIndications of recession with inflation (worse than stagflation) are increasing. Is anyone concerned? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down;Last Hour: UpPivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5111.25Previous session S&P 500 Index High/Low: 5124.66; 5091.1450 people injured by ‘strong movement’ on Boeing plane flying from Australia to New ZealandLATAM Airlines said there was ‘a technical event during the flight which caused a strong movement’https://www.foxnews.com/world/50-people-injured-strong-movement-plane-flying-australia-new-zealand @nypost: Gang leader named ‘Barbecue’ is now most powerful man in Haiti — as US evacuates Americans (MSM trying to ignore because of past Clinton involvement in Haiti) @joma_gc: Haiti is in the news, so here’s a quick timeline of Haiti since 2009. Notice Hillary Clinton is featured prominently: 2009: Secretary of State Clinton makes Haiti a top diplomatic priority. – Jan. 2010: A devastating earthquake that claims 220,000 lives decimates Haiti. The Clinton Foundation raises $30 million for Haiti relief that goes largely unaccounted for. – Nov 2010: Hillary Clinton endorses Michel Martelly, but he comes in third place and does NOT qualify for the runoff election scheduled for March 2011. – January 2011: Hillary travels to Haiti, meets with President Preval, and threatens to cut off aid if Martelly is not on the ballot. Celestin is dropped from the ballot, and Martelly is placed on the ballot. – March 2011: Martelly “wins” an election marred by voter fraud where 650,000 “ghost ballots” were counted, including many who died in the earthquake…. – March 2024: Henry travels to Kenya to sign an agreement for 1,000 troops to help restore order in the Haitian capital but is unable to return home due to security concerns. Henry remains stranded in Puerto Rico as warring gangs wrestle for control of the government with human flesh-eating gang leader “Barbecue” poised to take over. https://twitter.com/joma_gc/status/1767000478225715310“We’re Just Two Years Away from A US Debt Sustainability Crisis, Sparking A Major Global Market Event” – Eric Peters, CIO of One River Asset Management “The last time the debt as a share of GDP was this large was in 1945-1946, at the end of World War II,” wrote Daniel Wilson and Brigid Meisenbacherat from the Economic Research Department at the Federal Reserve Bank of San Francisco… “The main source of the long-run upward pressure on the primary deficit is spending on mandatory programs such as Social Security and Medicare. Current legislated formulas used to determine spending per recipient for Social Security benefits and government health-care programs, especially Medicare, combined with the projected aging of the population, point to large increases in spending for these programs as a share of GDP. This pressure was absent after WWII because the overall US population was younger and because Medicare was not enacted until 1965.”…https://www.zerohedge.com/markets/next-few-years-were-going-face-us-debt-sustainability-crisis-sparking-major-global-marketToday – February CPI will dictate early trading. If it is in line or lower than expected, there will be a spirited rally. If this scenario occurs, the key will be how long the rally lasts. If February CPI is higher than expected, there should be a sharp decline and eventually a rebound rally. The key for the session will be the ability of ESHs and stocks to maintain an uptrend after the bounce. Expected Economic Data: Feb NFIB Small Business Optimism 90.2; Feb CPI 0.4% m/m & 3.1% y/y; Core CPI 0.3% m/m & 3.7% y/y; Monthly Budget -$298.0B; Fed in Blackout for 3/20 meeting ESUs are +14.25; NQHs are +85.50; USHs are +8/32 at 20:30 ET. Did the CPI Report leak early? S&P Index 50-day MA: 4931; 100-day MA: 4708; 150-day MA: 4606; 200-day MA: 4556DJIA 50-day MA: 38,289; 100-day MA: 36,713; 150-day MA: 35,915, 200-day MA: 35,503(Green is positive slope; Red is negative slope) S&P 500 Index (5117.94) – Trender BBG trading model and MACD for key time framesMonthly: Trender andMACD arepositive – a close below 4455.17 triggers a sell signalWeekly: Trender andMACD arepositive – a close below 4901.55 triggers a sell signalDaily: Trender ispositive; MACD is negative – a close below 5037.46 triggers a sell signalHourly: Trender and MACD are negative – a close above 5149.34 triggers a buy signal @nypost: Biden asks staff if he’s “allowed to take any questions. Anybody here staff?” — press kicked out immediately after https://twitter.com/nypost/status/1767329939504640111 @jakejakeny: Saturday, Biden told @CapehartJ “I regret” using the term “illegal” to describe #LakenRiley ‘s killer in the SOTU. “Regret” was his EXACT word. But today, the WH says Biden did NOT apologize. I think we should check the definition of “regret,” shall we?@Travis_in_Flint: Meet Laura Kavanagh, the Fire Commander of the New York City Fire Department and the woman who started the investigation into firefighters who booed Letitia James and chanted for Trump. She was appointed by Mayor Eric Adams and has never been a firefighter herself. She’s worked on many political campaigns for democrats and even oversaw the complete diversification of the FDNY. Her office has made it clear that anyone who was involved in booing James will be “educated” on proper conduct. Why is a woman who’s never served as a firefighter serving as the Commander?https://twitter.com/Travis_in_Flint/status/1766944324632080509 Over the past several months, social media has teemed with videos of high schoolers, including girls, in savage fights. The MSM is ignoring this epidemic of teenage violence for various reasons. One reason is that is reflects horribly on high school supervision of students. Teen girl in critical condition after being beaten by mob, head repeatedly bashed into concrete during brutal fight near Missouri (Hazelwood) high school https://thepostmillennial.com/student-in-critical-condition-after-being-beaten-by-mob-head-repeatedly-bashed-into-concrete-during-brutal-fight-near-missouri-high-school @libsoftiktok: In Hazelwood East High School, the district who won a DEI award in 2022 and the school where students beat a girl who’s now in critical condition, just 5% of students are proficient in Math and just 21% in reading… @HazelwoodSD demanded school resource officers take a DEI training. The police sent a scorching letter refusing to participate in the DEI garbage. Hazelwood School District responded by PULLING ALL School Resource Officers! Hazelwood SD DOESN’T HAVE SCHOOL RESOURCE OFFICERS. Parents warned that removing SRO’s is a bad idea. A parent also said there are fights almost daily!… Hazelwood School District implemented race based disciplinary policies. Did that play a role in this fight and all the other reported fights going on in this district?…https://twitter.com/libsoftiktok/status/1766891675329425905Oscars Observes Moment of Silence for Undocumented Murderer Tragically Called ‘Illegal’https://t.co/faepSMlXcH
(CROCOTHERY/Shutterstock)
Turbo Cancers Are Skyrocketing Among Fully Vaxxed Young People, Pathologist Warns
harveyorganblog.com 
