MARCH 22/GOLD PRICE FELL BY $23.75 TO $2158,55/SILVER PRICE FELL BY $0.09 TO $24.66/PLATINUM CLOSED DOWN $13.50 TO $896.60/PALLADIUM CLOSED DOWN $13.90 TO $997.95/IMPORTANT GOLD AND SILVER PODCAST TONIGHT IS A MUST VIEW, LIVE FROM THE VAULT NO 165 WITH ANDREW MAGUIRE//EUROPE NOW SEES AN UNSUSTAINABLE MIGRANT INFLUX AND EUROPE CANNOT AFFORD TO HOUSE THEM//ISRAEL VS HAMAS/ISRAEL VS HEZBOLLAH//WEST BANK UPDATES//IN USA MIGRANTS BUST THROUGH THE FENSE AND PENETRATE EL PASO//ALSO HEZBOLLAH TERRORIST IS ARRESTED IN TEXAS LAST WEEK: HE STATED HE WAS GOING TO SET OFF A BOMB//TERRORIST ATTACK IN A NIGHTCLUB IN MOSCOW//SWAMP STORIES FOR YOU TONIGHT///COVID UPDATES/VACCINE INJURIES//DR PAUL ALEXANDER/SLAY NEWS/ETC//
IN THE ACCESS MARKET FRIDAY NIGHT, THE BANKERS DESPERATELY TRYING TO COVER THEIR SHORTFALL
Bitcoin morning price:$64,888 UP 95 DOLLARS.
Bitcoin: afternoon price: $63,585 DOWN 1213 dollars
Platinum price closing DOWN $13.50 TO $896.60
Palladium price; DOWN $13,90 AT $996,95
END
SHANGHAI GOLD PREMIUM 44 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.
363 H WELLS FARGO SEC 57 435 H SCOTIA CAPITAL 8 661 C JP MORGAN 51 685 C RJ OBRIEN 1 726 C CUNNINGHAM COM 1 737 C ADVANTAGE 2 2
TOTAL: 61 61 MONTH TO DATE: 5,330
JPMORGAN STOPPED (RECEIVED) 51/61 CONTRACTS
FOR MARCH/2024
GOLD: NUMBER OF NOTICES FILED FOR MAR/2024. CONTRACT: 61 NOTICES FOR 6100 OZ or 0.1897 TONNES
total notices so far: 5330 contracts for 533,000 Oz (16.578 tonnes)
FOR MARCH:
SILVER NOTICES: 20 NOTICE(S) FILED FOR 100,000 OZ/
total number of notices filed so far this month : 5422 for 27,110,000 oz
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END
GLD/
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD DOWN $23.75
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ :
NO CHANGES IN GOLD INVENTORY AT THE GLD:
/ /INVENTORY RESTS AT 838..50 TONNES
INVENTORY RESTS AT 838.50 TONNES
SLV//
WITH NO SILVER AROUND AND SILVER DOWN 9 CENTS AT THE SLV//
HUGE CHANGES IN SILVER INVENTORY AT THE SLV A HUGE DEPOSIT OF 1.189 MILLION OZ INTO THE SLV.:
// INVENTORY FALLS TO 424.909 MILLION OZ/
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 423.720 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY AN ULTRA- HUGE SIZED 2866 CONTRACTS TO 159,536 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED GAIN IN COMEX OI WAS ACCOMPLISHED DESPITE OUR LOSS IN PRICE OF $0.08 IN SILVER PRICING AT THE COMEX ON THURSDAY. WE HAD ZERO LONG LIQUIDATION AT THE COMEX SESSION WITH AGAIN MAJOR SHORT COVERING DESPITE THE PRICE LOSS. WE HAD A STRONG 626 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/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON THURSDAY NIGHT: 626 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.
WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.08),BUT WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A MEGA HUGE SIZED GAIN OF 3,836 CONTRACTS ON OUR TWO EXCHANGES DESPITE THE LOSS IN PRICE OF 8 CENTS.
WE MUST HAVE HAD:
A STRONG SIZED 470 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 85,000 OZ QUEUE JUMP
/NEW TOTALS INCREASES TO : 27.460 MILLION OZ
//NEW STANDING FOR SILVER IS THUS 27.460 MILLION OZ
WE HAD:
/ HUMONGOUS SIZED COMEX OI GAIN/ STRONG SIZED EFP ISSUANCE/ VI) STRONG SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 626 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED 918 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 16 days, total 23,076 contracts: OR 115.380 MILLION OZ (1442 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 115.380 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: 115.380 MILLION OZ//WILL BE MUCH LARGER THIS MONTH//MAYBE CLOSE TO A RECORD ISSUANCE
RESULT: WE HAD A MEGA HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2866 CONTRACTS DESPITE OUR LOSSIN PRICE OF SILVER PRICING AT THE COMEX//THURSDAY.,. THE CME NOTIFIED US THAT WE HAD A STRONG EFP ISSUANCE CONTRACTS: 470 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 STRONG 85,000 OZ QUEUE JUMP
//NEW TOTAL STANDING RISES TO 27.460 MILLION OZ
WE HAVE A HUMONGOUS GAIN OF 3336 OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE LOSS IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A STRONG SIZED 470 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS
THE NEW TAS ISSUANCE THURSDAY NIGHT (626) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .
WE HAD 20 NOTICE(S) FILED TODAY FOR 100,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST ROSE BY A GOOD SIZED 1063 CONTRACTS TO 538,677 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 2944 CONTRACTS
WE HAD A GOOD SIZED INCREASE IN COMEX OI (1063 CONTRACTS) WITH OUR $24.80 GAIN IN PRICE//THURSDAY. 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 QUEUE JUMP OF 5400 OZ.
NEW TOTAL Of INITIAL GOLD STANDING RISES TO: 18.668 TONNES // ALL OF THIS HAPPENED WITH OUR $24.80 GAIN IN PRICE WITH RESPECT TO THURSDAY’S TRADING. WE HAD A STRONG SIZED GAIN OF 11,437 OI CONTRACTS (35.57) PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A VERY STRONG SIZED 14,281CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 538,677
IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 11,437 CONTRACTS WITH 1063 CONTRACTS INCREASED AT THE COMEX// AND A VERY STRONG SIZED 10,374 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 11,437 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED 3519 CONTRACTS,
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A VERY STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (10,374 CONTRACTS) ACCOMPANYING THE SMALL SIZED GAIN IN COMEX OI (1063) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 11,437 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 QUEUE JUMP OF 0.1679 TONNES/NEW STANDING ADVANCES TO 18.849 TONNES.
/ 3) ZERO LONG LIQUIDATION // 4) GOOD SIZED COMEX OPEN INTEREST GAIN/ 5) VERY STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: FAIR T.A.S. ISSUANCE: 3519CONTRACTS//SOME 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: 87,972 CONTRACTS OR 8,797,200OZ OR 273.62 TONNES IN 16TRADING DAY(S) AND THUS AVERAGING: 5498 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 16TRADING DAY(S) IN TONNES 273.62 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 273.62/3550 x 100% TONNES 7,71% 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 EXCHANGE FOR PHYSICAL)
FEB’24: 201.947 TONNES
MARCH 2024: 273.62 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 MEGA HUGE SIZED 2866 CONTRACTS OI TO 159,536 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 470 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MAY 470 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 470 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 3784 CONTRACTS AND ADD TO THE 470 E.FP. ISSUED
WE OBTAIN A ULTRA HUMONGOUS SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 3336CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 16.68 MILLION 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//
FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED DOWN 29.08 PTS OR 0.94% //Hang Seng CLOSED DOWN 363.67 PTS OR 2.16% / Nikkei CLOSED UP 72.77 PTS OR 0.18% //Australia’s all ordinaries CLOSED DOWN .23% /Chinese yuan (ONSHORE) closed DOWN 7.2289 //OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2774 /Oil UP TO 81.13 dollars per barrel for WTI and BRENT UP AT 85.80/ Stocks in Europe OPENED MOSTLY ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A SMALL 1063 CONTRACTS TO 538,677 WITH OUR HUGE GAIN IN PRICE OF $24.80 WITH RESPECT TO THURSDAY TRADING.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF MARCH..… THE CME REPORTS THAT THE BANKERS ISSUED A VERY STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS 10,574 EFP CONTRACTS WERE ISSUED: : APRIL 10,574 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 10,574CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A VERY STRONG SIZED TOTAL OF 11,437 CONTRACTS IN THAT 10,374 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A SMALL SIZED GAIN OF 1063 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR HUGE RISE IN PRICE OF $24.80 THURSDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR THURSDAY NIGHT WAS A FAIR SIZED 3519 CONTRACTS,
THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS CONTINUE TO SELL OFF THE LONG SIDE OF THE SPREAD WHICH OF COURSE CONTINUES TO MANIPULATE THE PRICE OF GOLD SOUTHBOUND. (THEY KEEP THE SHORT SIDE OF THE CALENDAR/T.A.S. SPREAD WHICH WILL BE LIQUIDATED IN DAYS HENCE//. IT SEEMS THAT OUR CROOKS ARE HAVING A HARD TIME TRYING TO CONTROL THE PRICE OF GOLD AND THUS THE NEED FOR RECORD T.A.S. ISSUANCE.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: MARCH (18.849 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: 18.949 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE $24.80 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A VERY STRONG SIZED GAIN OF14,381 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH OUR HIGHER PRICE 0F 24.80
WE HAD A HUGE T.A.S. LIQUIDATION ON THE FRONT END OF THURSDAY’S TRADING . THE T.A.S. ISSUED ON THURSDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. THE HIGH T.A.S. ISSUANCE IS MEANT TO CONTROL THE PRICE OF GOLD (AS WELL AS INITIATE A RAID).
WE HAVE GAINED A TOTAL OI OF 44.731 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 5400 OZ QUEUE JUMP//NEW STANDING INCREASES TO 18.849 TONNES
ALL OF THIS WAS ACCOMPLISHED DESPITE OUR GAIN IN PRICE TO THE TUNE OF $24.80
WE HAD REMOVED 1321 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)
NET GAIN ON THE TWO EXCHANGES 14,281 CONTRACTS OR 1,438,100 OZ OR 44.7311 TONNES. estimated volume today 273,344 //fair
Total monthly oz gold served (contracts) so far this month
5330 notices 533000 oz 16.578 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: 0
total customer withdrawal: NIL oz
we had 0 customer deposit
total deposit nil oz
Adjustments: 1
i) Brinks customer to dealer; 402.242 oz 15 kilobars
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR MAR.
For the front month of MARCH we have an oi of 791 contracts having GAINED 48 contracts. We had 6 contracts filed upon on Thursday, so we gained 54 contracts or an additional 5400 oz of gold(0.1679 tonnes) will stand at the comex in this non active delivery month of March.
APRIL LOST 32,084 CONTRACTS FALLING TO 157,925.
MAY LOST 17 CONTRACTS TO STAND AT 968
JUNE INCREASED ITS OI BY 31,641 CONTRACTS UP TO 316,078 CONTRACTS.
We had 61 contracts filed for today representing 6100 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 61 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 51 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 (5330 x 100 oz ), to which we add the difference between the open interest for the front month of MARCH. (791 CONTRACTS) minus the number of notices served upon today 61 x 100 oz per contract equals 600,200 OZ OR 18.668 TONNES
thus the INITIAL standings for gold for the MARCH. contract month: No of notices filed so far (5330) x 100 oz + (791) {OI for the front month} minus the number of notices served upon today (61) x 100 oz which equals 606,000 oz (18.849 TONNES)
TOTAL COMEX GOLD STANDING FOR MARCH: 18.849 TONNES WHICH IS HUGE FOR A NON ACTIVE DELIVERY MONTH IN THE CALENDAR.
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,733,522.260 OZ
TOTAL REGISTERED GOLD 7,736,801.037 (240.64 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9,996,721.223 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,403,443 oz (REG GOLD- PLEDGED GOLD) 199.17 tonnes/dropping like a stone
END
SILVER/COMEX
MARCH 22
INITIAL
//2024// THE MARCH 2024 SILVER CONTRACT//INITIAL
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
1,296,265.626 oz asahi CNT
Delaware
.
Deposits to the Dealer Inventory
nil OZ
Deposits to the Customer Inventory
516,,612.521 OZ HSBC
No of oz served today (contracts)
20 CONTRACT(S) (100,000 OZ)
No of oz to be served (notices)
70 contracts (0.350 MILLION oz)
Total monthly oz silver served (contracts)
5422 Contracts (27,110,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month
i) 0 dealer deposit
total dealer deposit :nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 1 deposits customer account:
i) Into ASAHI 516,612.521 oz
total customer deposits 516,612.521 oz
JPMorgan has a total silver weight: 129.806 million oz/284.273 million or 45.77%
adjustment: 1/dealer to customer 233,326.530 oz
Comex withdrawals: 3
i) Out of ASAHI: 1201,200.830 oz
ii) Out of CNT 93,167.870 CNT
iii) Out of Delaware: 1896,926
total withdrawal: 1296,265.626 oz
TOTAL REGISTERED SILVER: 48.898MILLION OZ//.TOTAL REG + ELIGIBLE. 285.083million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:
silver open interest data:
FRONT MONTH OF MARCH /2023 OI: 90 CONTRACTS HAVING LOST 58 CONTRACT(S).
WE HAD 75 NOTICES FILED ON THURSDAY SO GAINED 17 CONTRACTS OR AN ADDITIONAL 85,000 OZ WILL STAND AT THE COMEX
APRIL SAW A GAIN OF 19 CONTRACTS TO STAND AT 984
MAY SAW A GAIN OF 1531 CONTRACTS UP TO 121,732
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 20 for 100,000 oz
Comex volumes// est. volume today 57,541 fair
Comex volume: confirmed yesterday 110,516 huge.
To calculate the number of silver ounces that will stand for delivery in MARCH. we take the total number of notices filed for the month so far at 5422 x 5,000 oz = 27,110,000 oz
to which we add the difference between the open interest for the front month of MARCH. (90) and the number of notices served upon today 20 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the MARCH/2024 contract month: 5422 (notices served so far) x 5000 oz + OI for the front month of MARCH. (90) – number of notices served upon today (20 )x 500 oz of silver standing for the MARCH contract month equates to 27.460 MILLION OZ.
New total standing: 27.460 million oz.
There are 48.898 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 22 WITH GOLD DOWN $23.75 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD
/:INVENTORY RISES TO 838.50 TONNES
MARCH 21 WITH GOLD UP $24.80 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD A STRONG PAPER DEPOSIT OF 1.15 TONNES OF GOLD INTO THE GLD/:INVENTORY RISES TO 838.50 TONNES
MARCH 20 WITH GOLD UP $1.45 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD A STRONG PAPER DEPOSIT OF 1.48 TONNES OF GOLD INTO THE GLD/:INVENTORY RISES TO 837.35 TONNES
MARCH 19 WITH GOLD DOWN $4.10 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD A STRONG PAPER DEPOSIT OF 1.48 TONNES OF GOLD INTO THE GLD/:INVENTORY RISES TO 833.32 TONNES
MARCH 15 WITH GOLD DOWN $5.20 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/:INVENTORY REMAINS AT 816.86 TONNES
MARCH 14 WITH GOLD DOWN $12.20 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 1.73 TONNES OF GOLD INTO THE GLD//:INVENTORY REMAINS AT 816.86 TONNES
MARCH 13 WITH GOLD UP $14.40 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD:INVENTORY REMAINS AT 815.13 TONNES
MARCH 12 WITH GOLD DOWN $21.15 TODAY; NO 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:
GLD INVENTORY: 838.50 TONNES
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
MARCH 22/WITH SILVER DOWN 9 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A HUGE DEPOSIT OF 1.1899 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 424.909 MILLION OZ
MARCH 21/WITH SILVER DOWN 8 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A HUGE WITHDRAWAL OF 3.560 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 423.720 MILLION OZ
MARCH 20/WITH SILVER DOWN 5 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A HUGE DEPOSIT OF 11.792 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 427.280 MILLION OZ
MARCH 18/WITH SILVER DOWN 11 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A HUGE DEPOSIT OF 11.792 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 427.280 MILLION OZ
MARCH 15/WITH SILVER DOWN 9 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 1.006 MILLION OZ FROM THE SLV: SLV INVENTORY RESTS AT 417.866 MILLION OZ
MARCH 14/WITH SILVER DOWN 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: SLV INVENTORY RESTS AT 418.872 MILLION OZ
MARCH 13/WITH SILVER UP 32 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: SLV INVENTORY RESTS AT 418.872 MILLION OZ…
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
CLOSING INVENTORY 424.909 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1:Peter Schiff/Mike Maharrey
end
2.Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens/
3. CHRIS POWELL//GATA
As we have pointed out to you on several occasions: China’s central bank is buying massive amount of gold.
(Jan Nieuwenhuijs)
Jan Nieuwenhuijs: Chinese central bank purchases secretly fueled perfect storm in gold in 2023
Submitted by admin on Thu, 2024-03-21 16:21 Section: Daily Dispatches
6:41a ET Friday, March 22: Jan Nieuwenhuijs plans an urgent update to this report today. / cp
* * *
By Jan Nieuwenhuijs Gainesville Coins, Lutz, Florida Thursday, March 21, 2024
The People’s Bank of China bought 735 tonnes of gold in 2023, of which about two thirds were bought covertly.
In this article we will examine how strong PBoC gold buying pushed up the price of gold in the past two years, how gold pricing power in general is shifting to the East, and how this new trend has set the stage for the powerful gold rally that started late February.
As most readers will be aware of by now, since the war in Ukraine, which led Western authorities to freeze dollar assets of the Russian central bank, estimated gold purchases by central banks as disclosed by the World Gold Council have exploded.
Covert PBoC gold purchases can be computed by comparing the WGC’s data with what is officially reported by central banks. …
JP Cortez: Fixing FDR’s blunder: from gold standard to fiat folly and back
Submitted by admin on Thu, 2024-03-21 16:35 Section: Daily Dispatches
By JP Cortez Real Clear History, Washington, D.C. Wednesday, March 20, 2024
States across the country are beginning to embrace pro-sound money legislation, inviting a critical examination of how America abandoned the gold standard of money and racked up $34.5 trillion in debt.
To understand how we got here, it’s important to understand the policy that initiated our monetary decline.
Ninety-one years ago, on April 5, 1933, President Franklin D. Roosevelt issued Executive Order 6102, forever reshaping America’s monetary system.
This controversial order marked a pivotal moment in the nation’s financial history. EO 6102 banned private ownership of gold coins, bullion, and gold certificates with the penalty for noncompliance being up to 10 years in prison, a fine of $10,000, or both.
This draconian edict also signaled the effective end of the gold standard.
America did not always have unbacked, paper money. In fact, America’s founders spilled a lot of ink warning against the risks and ravages of fiat currencies. …
Chris Powell…we need your help in order to continue this fight
To liberate the monetary metals markets, GATA needs your help
Submitted by admin on Thu, 2024-03-21 16:41 Section: Daily Dispatches
4:40p ET Thursday, March 21, 2024
Dear Friend of GATA and Gold:
Since gold and even silver seem to be enjoying a sustained rally, since government stupidity and corruption are reaching new heights too, and since sentiment in our long-depressed sector may be improving, this may be the time for GATA to ask for your help, which we haven’t done in a long time.
Through thick and thin GATA continues to lead the struggle for free and transparent markets in the monetary metals, painstakingly exposing and documenting the largely surreptitious interventions by central banks and their agents and explaining the timeless virtues of gold and silver as money and savings for people and countries aspiring to be free.
few people these days try to deny monetary metals market manipulation anymore. Most people seriously involved in the sector know very well what has been going on and what continues — know very well that the monetary metals are the mortal enemies of overbearing and undemocratic government and that the primary purpose of modern central banks is to prevent the monetary metals from competing freely with their currencies. Most people just still lack the courage to acknowledge what has been going on, since we’re still fighting nearly all the money and power in the world and crossing that money and power can be very bad for business.
But GATA fairly can take credit for informing people and governments around the world who have been in a position to act powerfully on the knowledge we have given them and who do seem to be acting.
Indeed, if not for GATA the day of deliverance — the day of free and transparent markets in the monetary metals and everything else, and the day of transparent and limited government — would be even more distant than it seems.
When GATA was founded 25 years ago, we had little idea of what we were getting into — little idea of how cosmic the issue of gold market manipulation was, and how central it is to human affairs — and thus little idea of how long the struggle against it would take.
We’re not getting any younger but we’re working just as hard, and while the bad guys won’t give up easily, there are signs that they are retreating.
Since this fight is one for truth and freedom, it remains winnable.
And so:
Say not the struggle nought availeth, The labor and the wounds are vain, The enemy faints not, nor faileth, And as things have been they remain.
If hopes were dupes, fears may be liars; It may be, in yon smoke concealed, Your comrades chase e’en now the fliers, And, but for you, possess the field.
For while the tired waves, vainly breaking, Seem here no painful inch to gain, Far back, through creeks and inlets making, Comes silent, flooding in, the main.
And not by eastern windows only, When daylight comes, comes in the light, In front the sun climbs slow, how slowly, But westward — Look! — the land is bright.
If you think we have earned your support and have not already helped us with a contribution, please consider helping us now:
And if you do make one, please let us know your e-mail address so we can thank you properly without having to diminish your contribution by purchasing stationery and postage and making your secretary/treasurer type up a formal letter. (He is the only secretary in the organization.)
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.
end
Amazing, gold miners are being hurt by the gold shares but they do not want to support us
bringing the fraud to the forefront. Shame on them..
Submitted by admin on Thu, 2024-03-21 17:05 Section: Daily Dispatches
By Gabriel Friedman National Post, Toronto Thursday, March 21, 2024
Two decades ago rising gold prices launched a historic bull run in Canada’s gold mining sector. Now, bullion is popping to all-time highs again, but this time investors are fleeing gold miners’ stocks in droves.
Even gold exchange-traded funds, which use investors’ money to acquire physical stockpiles of bullion, are contracting as gold prices rise, which is precisely the opposite of what many analysts expected.
The disconnect ties into a broader trend in which the profile of the largest buyer of gold has shifted: investors are fleeing the gold industry, dumping gold mining stocks and redeeming gold ETFs, while central banks around the world, particularly in China, have dramatically increased annual bullion purchases during the past two years.
The result is that the price of gold is shattering record after record, currently trading at US$2,150 per ounce and up 32 per cent since November 2022, but gold mining stocks are being crushed.
“The sentiment in this space has never been lower,” said Shree Kargutkar, a senior portfolio manager at Sprott Asset Management LP of Canada in Toronto who focuses on precious metals mining companies. …
4. OTHER MAJOR GOLD COMMENTARIES/PODCASTS//LIVE FROM THE VAULT 165
end
5 a. IMPORTANT COMMENTARIES ON COMMODITIES//COCOA
Prices hyperinflate as they scramble to find cocoa beans. As a chocoholic, I am depressed on this
(zerohedge)
“Everyone Is Panicking”: Major Cocoa Processor Scrambles To Find Beans As Prices Hyperinflate
One of the world’s largest cocoa processors is scouring the globe for beans as weather and disease spark massive crop failures across West Africa and catapult prices in New York to record highs.
“Everybody is panicking,” said Brandon Tay Hoe Lian, chief executive officer of Guan Chong Bhd. He said the company is attempting to procure beans from minor growing countries, including Ecuador, Peru, and Indonesia.
The CEO of the Kuala Lumpur-listed company said prices are soaring weekly as coca beans become harder and harder to find: “We not only have to fight for beans, we’re also paying premiums.”
Guan Chong’s processing plant is still operating normally despite the world heading for a third year of supply deficits primarily due to crop failures across West Africa.
Tay warned:
“We are quite skeptical about selling a lot because we’re worried whether the beans will be delivered.
“I rather sell the minimum, just in case, as long as my cashflows are healthy. I don’t want to commit to something that I cannot deliver.”
As of Thursday morning, the most active cocoa contract in New York hit a new record high of $8,600 per ton. He warned the rally is far from over: “There’s a lot more room to go higher.”
Citi Research analysts recently advised clients that prices could reach as high as $10,000 a ton and stay in record-high territory through the second half of 2025.
Meanwhile, US chocolate maker Hershey Company warned last month: “Historic cocoa prices are expected to limit earnings growth this year.”
Bad news for those of us with a sweet tooth…
It’s only a matter of time before Biden’s PR team of woke college grads blames Putin for candyflation.
.
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 SETTINGSFRIDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN 7.2289
OFFSHORE YUAN: DOWN TO 7.2774
SHANGHAI CLOSED DOWN 29.08 PPTS OR 0.94%
HANG SENG CLOSED DOWN 363.63 PTS OR 2.16%
2. Nikkei closed UP 72.77 OR 0.18%
3. Europe stocks SO FAR: MOSTLY ALL GREEN
USA dollar INDEX UP TO 104.08 EURO FALLS TO 1.0819 DOWN 43 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +.730 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 151.59/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 UP CHINESE ONSHORE YUAN: DOWN/ OFFSHORE: DOWN
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and UP FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.367***/Italian 10 Yr bond yield UP to 3.678* /SPAIN 10 YR BOND YIELD DOWN TO 3.1930…**
3i Greek 10 year bond yield UP TO 3.265
3j Gold at $2165.65 silver at: 24.56 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 74 /100 roubles/dollar; ROUBLE AT 92.80//
3m oil into the 80 dollar handle for WTI and 85 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 151.58// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.730% 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 0.9000 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9742 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: 4.244 DOWN 3 BASIS PTS…
USA 30 YR BOND YIELD: 4.415 DOWN 3 BASIS PTS/
USA 2 YR BOND YIELD: 4.615 DOWN 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 31.98…(TURKEY SET TO BLOW UP FINANCIALLY)
GREAT BRITAIN/10 YEAR YIELD: DOWN 1 BASIS PTS AT 3.991
end
2.a Overnight: Newsquawk and Zero hedge,,,
S&P Futures Drop On Last Day Of Best Week Of 2024
FRIDAY, MAR 22, 2024 – 08:19 AM
Futures dropped modestly but were still on pace for their best week of the year after a raft of central bank meetings indicated that a pivot toward looser policy has been agreed upon at one of the recent central bank conclaves at the BIS tower in Basel, inflation – and 2% inflation target – be damned. As of 7:50am, S&P futures were down 0.2% and poised for a 2.2% weekly advance, the most since mid December; Nasdaq futures were also in the red as they looked to cap another blockbuster week. Friday’s selling came after the latest EPFR data revealed US stocks saw significant outflows in the runup to the Fed’s policy meeting that took the S&P 500 Index to fresh all-time highs. Market euphoria also pushed the MSCI index of global shares more than 2% higher this week so far. Europe’s stock benchmark headed for its longest weekly run of gains in more than a decade. Treasuries rose for a fourth day, taking the 10-year yield almost 10 basis points lower since Monday even as the dollar rose to the highest level in over a month. Gold dipped again after hitting a record high above $2,200 after Powell’s dovish FOMC. There are no scheduled events on the econ calendar; the US session highlight is Powell’s opening remarks at a Fed Listens event in Washington.
In premarket trading, FedEx surged 12% after the parcel carrier’s third-quarter results beat estimates and it announced a $5 billion buyback plan; peer UPS also gained. Lululemon shares slid 12% after the activewear maker warned of a slowdown in US store visits, which led to a lower-than-anticipated sales outlook. Nike tumbled after it warned that sales this year will take a hit as it realigns merchandise to better match shoppers tastes; European sportswear retailers Adidas, Puma and JD Sports all fell in sympathy. Here are some other notable premarket movers:
Reddit drops 3.4%, paring some of its first-day jump Thursday that saw shares soar 48% above their initial public offering price.
Tesla declines 3.4% as the automaker has reduced electric car production at its plant in China, according to people familiar with the matter.
Stocks were set to close out their best week of 2024 as thanks to rekindled investor appetite after the Fed meeting midweek fueled hopes policymakers will engineer a soft landing for the US economy with three interest rate cuts this year. A surprise loosening by the Swiss National Bank and a more dovish stance by Bank of England policymakers added to the optimism, lifting equities and government bonds while driving their currencies lower.
“The likelihood of a recession fading provides impetus for stronger markets,” said Max Wolman, an investment director at abrdn in London. “Investors were too bullish on rate cuts by the Fed, this has now been priced out and the market sees three cuts this year as more realistic.”
European stocks edge higher, with the Stoxx 600 set to log a ninth straight week of gains, the longest winning streak since 2012.
Earlier in the session, Asian stocks were mixed after momentum from the fresh record highs on Wall Street waned.
Hang Seng and Shanghai Comp. suffered amid weak earnings from the likes of CK Asset Holdings, CK Hutchison, CNOOC and Ping An, while tech slumped after a US Commerce Department official said SMIC may have violated US export controls to produce chips for Huawei.
ASX 200 closed with mild losses with the index weighed on by underperformance in miners amid declines in underlying commodity prices, while the RBA’s Financial Stability Review noted conditions are to remain challenging for households and businesses.
Nikkei 225 swung between gains and losses in which it initially climbed above 41,000 for the first time but then faltered and briefly wiped out all its gains as participants digested somewhat mixed inflation data which was mostly softer-than-expected but the Core reading matched estimates at a four-month high.
In FX, the dollar extended its gains against major peers, rising 0.4% and headed for its best week in two months as global interest-rate cut bets and jitters around China’s currency bolstered the greenback. The pound fell 0.6% against the dollar following dovish comments from BOE head Bailey in the FT, and deriving little support from stronger-than-expected UK retail sales data.
Despite the expectations for Fed cuts, the dollar may have scope to gain due to weakness in the Japanese yen and the Chinese yuan, while the SNB’s surprise cut has boosted speculation other major central banks may move faster than the Fed to reduce their policy rates. Of note, China’s yuan breached a closely watched technical level. The People’s Bank of China lowered the daily reference rate by the most since early February, a sign to some that Beijing is greenlighting more depreciation amid a bumpy economic recovery. The yen was little changed, trading around 152 per dollar even as Japan’s inflation accelerated to the quickest pace in four months. Traders are watching to see whether the Bank of Japan follows its first rate hike since 2007 — which it delivered earlier in the week — with more increases later this year.
In rates, Treasuries held on to small gains as US session gets under way, supported by rallies in UK and German bond markets and flight-to-quality as worst day in two months for China’s onshore yuan saps risk sentiment. Treasury yields were richer by 2bp to 3bp across the curve with 10-year around 4.24%; bunds and gilts in the sector outperform by 1bp and 2bp. US curve spreads remain within 1bp of Thursday’s closing levels. Next week, Treasury auction cycle starts Monday, including 2-, 5- and 7-year notes for a combined $176b
In commodities, oil held a two-day drop, with traders assessing the outlook for global interest rates and geopolitical tensions in the Middle East. Oil prices were little changed, with WTI trading near $81. Spot gold falls 0.7% to around $2,167/oz.
Elsewhere, Bitcoin traded around $64,000, while gold fell after surging above $2,200 an ounce for the first time.
Looking at today’s calendar, no US economic data scheduled. Fed members scheduled to speak include Powell’s at Fed Listens event (9am), Barr (12:15pm) and Bostic (4pm) as well as the ECB’s Nagel, Holzmann, Centeno and Lane,
Market Snapshot
S&P 500 futures down 0.2% at 5,295
STOXX Europe 600 little changed at 509.35
MXAP down 0.4% to 177.33
MXAPJ down 1.0% to 534.55
Nikkei up 0.2% to 40,888.43
Topix up 0.6% to 2,813.22
Hang Seng Index down 2.2% to 16,499.47
Shanghai Composite down 0.9% to 3,048.03
Sensex up 0.2% to 72,803.56
Australia S&P/ASX 200 down 0.1% to 7,770.55
Kospi down 0.2% to 2,748.56
German 10Y yield little changed at 2.37%
Euro down 0.5% to $1.0811
Brent Futures down 0.3% to $85.55/bbl
Gold spot down 0.7% to $2,167.14
US Dollar Index up 0.38% to 104.40
Top Overnight News
Japan’s headline CPI in Feb came in at +2.8% (up from +2.2% in Jan, but below the Street’s +2.9%) while core cooled to +3.2% (down from +3.5% in Jan and below the Street’s +3.3% forecast) (Reuters)
The BOJ will raise interest rates again by October and may hike at a faster than expected pace with yen weakness among factors that may come into play, according to a Bloomberg survey of economists. BBG
Chinese leader Xi Jinping plans to meet a group of U.S. business leaders next week after a government-sponsored forum as Beijing steps up efforts to woo American firms amid an exodus of foreign capital. WSJ
China is scrutinizing PwC’s role in Evergrande’s accounting practices after the developer was accused of a $78 billion fraud, people familiar said. No decision has been made on whether to penalize the company. BBG
US urges Ukraine to halt attacks on Russian energy infrastructure, warning that continuing them could drive up global oil prices and provoke retaliation from Moscow. FT
The BOE governor (Andrew Bailey) has signaled markets are right to expect more than one interest rate cut this year, saying he is increasingly confident inflation is heading towards target. FT
US House Republicans are falling further behind on campaign cash as Speaker Mike Johnson struggles to build a donor network. The NRCC raised $8.2 million in February and began March with $45.2 million on hand. Its Democratic counterpart raised nearly double that and has $59.2 million in the bank. BBG
NKE reported healthy EPS upside w/the beat driven by higher sales and better margins, but the guidance was weak for FQ4 and H1:25. BBG
FDX reported solid EPS upside thanks to healthy margins while capital return was increased, but sales fell short and the full-year EPS guide was left essentially unchanged. RTRS
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were ultimately mixed after momentum from the fresh record highs on Wall Street waned. ASX 200 closed with mild losses with the index weighed on by underperformance in miners amid declines in underlying commodity prices, while the RBA’s Financial Stability Review noted conditions are to remain challenging for households and businesses. Nikkei 225 swung between gains and losses in which it initially climbed above 41,000 for the first time but then faltered and briefly wiped out all its gains as participants digested somewhat mixed inflation data which was mostly softer-than-expected but the Core reading matched estimates at a four-month high. Hang Seng and Shanghai Comp. suffered amid weak earnings from the likes of CK Asset Holdings, CK Hutchison, CNOOC and Ping An, while tech slumped after a US Commerce Department official said SMIC may have violated US export controls to produce chips for Huawei.
Top Asian News
BoJ Governor Ueda reiterated that the BoJ’s JGB holdings will remain at current levels for the time being and they would like to eventually decrease their JGB buying but will take a wait-and-see stance for the time being. Ueda added that the latest decision is based on the understanding that they will leave it to markets to determine long-term rate moves.
Japanese RENGO 2nd Tally: 5.25% (vs 5.28% in the first tally). Japan RENGO 1st Wage Tally: 5.28% (exp. 4.1%; 2023 final figure 3.6%).
Japan Government says BoJ will continue to work closely to conduct flexible policy and lead to an end of deflation.
RBA Financial Stability Review stated conditions are to remain challenging this year for households and businesses, as well as noted that households have trimmed spending and are underpinned by a strong jobs market and savings buffers.
European equities, Stoxx600 (+0.1%) are mostly modestly firmer; Eurostoxx 50 (-0.3%) is lower, with Luxury continuing yesterday’s decline, coupled with a soured risk tone in China overnight. European sectors are mostly firmer; Consumer Products and Services underperforms with sports brands Adidas (-0.4%), Puma (-1.9%) and JD Sports (-3.2%) all hampered by post-earning losses in Nike. Telecoms is found at the top of the pile. US equity futures (ES +0.1%, NQ +0.1%, RTY +0.3%) are modestly in the green attempting to build on the prior day’s strength; Nike (-6.6% pre-market) is lower after the Co. noted it had lost market share in the running shoes business and on was downbeat on its H1’25 revenue outlook.
Top European News
BoE Governor Bailey said rate cuts were “in play” at future BoE meetings amid signs tighter policy quelled the risk of a wage-price spiral, according to FT.
ECB’s Nagel says probability is rising that rates will be lowered ahead of the summer break, according to Reuters citing Market News.
ECB’s Holzmann says investors should consider the risk that the ECB does not lower rates this year.
Russian Federation Central Bank Key Rate (Mar) 16.0% vs. Exp. 16.0% (Prev. 16.0%)
FX
DXY now back above pre-FOMC levels (currently 104.40) despite dovish messaging from Powell. Upside likely in part due to softness elsewhere rather than outright chasing USD longs. Next target comes via the 16th Feb high at 104.67.
EUR is swept up by the broadly firmer USD as encouraging German IFO data was unable to provide support. EUR/USD down to a low of 1.0809 but yet to test 1.08.
JPY is marginally firmer vs. the USD after printing another YTD peak at 151.86 but stopping shy of the 2023 high at 151.94 and 2022 peak at 151.94. For context the pair started the week off at 149.33. A material turnaround in the pair requires a turnaround in the US rates space.
Antipodeans are both performing poorly vs. the USD alongside the downbeat mood surrounding China and Yuan depreciation. AUD/USD as low as 0.6511 with the weekly low just above the 0.65 mark at 0.6504.
CNH is swept up by the firmer USD with USD/CNH as its highest level since November 2023. Reports of Chinese state-owned selling has failed to stop the rot.
PBoC set USD/CNY mid-point at 7.1004 vs exp. 7.2147 (prev. 7.0942).
China’s major state-owned banks were seen to be selling dollars for yuan in the onshore FX market to slow yuan declines, according to sources cited by Reuters.
Fixed Income
USTs are firmer but shy of Thursday’s 110-26+ WTD peak. Specifics light thus far but the docket picks up with Fed’s Powell, Jefferson, Barr & Bostic due.
Bunds are in the green in a continuation of the week’s overall dovish action for EGBs. Slightly off the session’s fresh WTD high of 132.68, a modest pullback from this occurred after beats across the board to the latest German Ifo (albeit marginal).
Gilts are firmer though still around 30 ticks shy of Thursday’s 99.91 WTD peak. Specifics light as participants digest the BoE and Bailey’s subsequent press round which was on the dovish side.
Italy sells EUR 2.75bln vs exp. EUR 2.5-2.75bln 3.20% 2026 BTP Short Term: b/c 1.46x and gross yield 3.31%
Commodities
Crude is modestly weaker having pared much of the overnight weakness, sparked by broader weakness in the commodities complex amid the recovery in the Dollar and risk-off mood in China. WTI bounced off lows of around USD 80.50/bbl and now holds around USD 81/bbl.
Weakness across precious metals as the stronger Dollar exerted pressure while Friday newsflow remains quiet. XAU dipped under yesterday’s low (2,166.45/oz).
Base metals are weaker across the board following the risk aversion from Chinese markets overnight coupled with the recovery in the Greenback.
US has reportedly urged Ukraine to halt strikes against Russian oil refineries, according to FT.
India stop taking Russia oil delivered on Sovcomflot tankers, via Bloomberg.
Pemex reportedly put off repairs at a Gulf of Mexico platform for a number of months, via Reuters citing sources; facility leaked vast volumes of methane due to faulty infrastructure
Geopolitics: Middle-East
US will reportedly bring a resolution today calling for an immediate ceasefire in Gaza as part of a hostage deal for a vote in the UN Security Council, according to Reuters citing a spokesperson.
US military said it destroyed one unmanned surface vessel and two anti-ship ballistic missiles launched by Houthis in Yemen.
Geopolitics: Other
Ballistic missiles were reportedly fired from Crimea towards Zaporizhzhia and explosions were heard, according to a source via social media platform X.
China’s special envoy for Eurasian affairs said the Russian side appreciates the diplomacy efforts taken by the Chinese side and produced their own take on peace talks, while the side reiterated its willingness and position on holding serious talks on this crisis. China’s envoy also stated that Russia and Ukraine are keeping to their positions and have huge differences when it comes to peace talks but both sides believe that this crisis will be solved through peace talks, according to Reuters.
China’s embassy in the Philippines said the Taiwan question is not and should never become an issue between China and the Philippines, while it added any attempt to implicate the Taiwan question in maritime disputes between China and the Philippines is dangerous.
IAEA says Zaporizhzhia nuclear power plant has lost connection to main 750 kV off-site power line amid reports of military action in Ukraine; Back-up 330 kV power line at the nuclear power plant are still working.
Russia’s Kremlin says Russia needs to fully “liberate” its “new regions” to ensure peoples’ safety there, according to Tass; Russia regards itself in a state of war amid Western intervention on the Ukrainian side.
US Event Calendar
Nothing on the calendar
Central Bank events
09:00: Fed Listens Event, Opening Remarks from Powell
12:00: Fed’s Barr Speaks on International Economic, Monetary Design
16:00: Fed’s Bostic Participates in Moderated Conversation
DB’s Jim Reid concludes the overnight wrap
The market rally has continued in force over the last 24 hours, driven by growing confidence that rate cuts are finally on the horizon. The one exception is a soft China equity story overnight which we’ll discuss below. Outside of that the momentum has been positive, helped by the Swiss National Bank surprisingly cutting rates yesterday, becoming the first central bank with a G10 currency to do so this cycle. Then shortly after, the Bank of England kept rates on hold, but it marked the first time since September 2021 that none of the MPC members voted for a hike. And of course, all this follows the Fed’s signal on Wednesday that 3 rate cuts were still on the agenda this year, despite upgrading their inflation forecasts. Whether we actually get what is priced in is a moot point, but for the current direction of travel, the promise is all that matters for now.
This dovish news has given markets a significant boost, and marks a big shift from where we began the week. Indeed, it’s worth remembering that it was only last week that the US CPI and PPI numbers surprised on the upside, which led to growing speculation that the Fed would dial up the hawkishness. On top of that, it was only 72 hours ago that the Bank of Japan finally ended their negative interest rate policy.
Whilst markets have been focused on this week’s dovish narrative, it’s worth bearing in mind that sentiment on rates has switched back and forth over 2024. In fact, at the start of the year, investors were looking at the Fed’s March meeting as the most likely date for a first cut. But of course, that meeting happened this week, and now i nvestors are looking towards June as the most likely date. So market pricing has had a continuous habit of shifting forward the likely timing of any rate cuts.
All that being said, the Swiss National Bank’s decision to deliver a cut created a major shift in tone, as they lowered their policy rate by 25bps to 1.5%. Now it’s worth noting that Swiss CPI is at just +1.2%, and core CPI is at 1.1%, so they don’t have the problem of above-target inflation (unlike most other developed economies). But the decision still came as a surprise, with the consensus of economists expecting them to remain on hold. In turn, that meant the Swiss Franc weakened by -0.83% against the US Dollar, and -0.76% against the Euro. And there was a significant outperformance for Swiss government bonds, with the 2yr yield (-8.8bps) down to 0.81%, whilst the 10yr yield (-4.9bps) fell to 0.59%.
The SNB’s decision was then followed up by the Bank of England, who kept their policy rate at 5.25% as expected. Importantly though, the vote split was now an 8-1 decision to keep rates on hold, with one member preferring a 25bp cut. That meant it was the first meeting in two-and-a-half years with no member voting for a rate hike, so that was another dovish milestone. In the statement, they stuck to their language from February that “ Monetary policy will need to remain restrictive for sufficiently long to return inflation to the 2% target sustainably in the medium term ”. Following the decision, our UK economist sticks to his call for a May rate cut – but only just, and sees the likelihood of a delay to June as on the rise. See his full recap here.
This dovish backdrop led to an array of record highs for the major equity indices, including the S&P 500 (+0.32%), the NASDAQ (+0.20%), the Dow Jones (+0.68%), the STOXX 600 (+0.90%) and the DAX (+0.91%). Alongside that, the small-cap Russell 2000 (+1.14%) was another outperformer, closing at its highest level in almost two years. The Magnificent 7 (-0.43%) were the notable underperformer, mostly due to a -4.09% decline for Apple as an anti-trust lawsuit against the firm was filed by the US Justice Department and sixteen US states.
The risk-on sentiment also boosted other asset classes. US IG and high yield credit spreads both fell to their lowest levels in over two years, while Gold (+1.09%) closed at a new all-time high of $2,181/oz.
That market momentum got an added boost from strong data, with the flash PMIs for March painting a decent picture across the major economies. For instance, the Euro Area composite PMI was up to a 9-month high of 49.9 (vs. 49.7 expected), which adds to the positive data surprises there recently. Meanwhile in the UK, the composite PMI was at 52.9 (vs. 53.1 expected), marking a 5th month in expansionary territory. Over in the US, the composite PMI was at 52.2 as expected, but there was good news elsewhere, as the initial jobless claims fell to 210k over the week ending March 16 (vs. 213k expected), and the Conference Board’s Leading Index ended a run of 23 consecutive monthly contractions, expanding by +0.1% in February. The were also signs of an uptick in US housing activity as existing home sales jumped to 4.38m annualised in February (vs. 3.95m expected), their highest pace in twelve months.
For sovereign bonds, however, there was much more of a contrast between the US and Europe. In the US, yields on 10yr Treasuries saw little movement, ending the day down -0.6bps at 4.27%. In part that was because of the strong data, and the 2yr yield moved up +3.4bps to 4.64%. This morning in Asia, 1-10 year US yields are back down around -2.5bps though. In Europe, there was a clear bull steepening as investors were encouraged by the prospect of rate cuts, which saw yields on 10yr bunds (-2.7bps), OATs (-2.6bps) and BTPs (-3.7bps) all move lower.
Asian equity markets are generally softer this morning with Chinese stocks the biggest underperformers led by the Hang Seng Tech index (-4.27%) followed by the Hang Seng (-3.04%), while the CSI is trading -1.50% lower, inching towards its largest daily drop since January with the Shanghai Composite (-1.41%) also seeing a significant decline. Elsewhere, the KOSPI (-0.44%) is also trading lower while the Nikkei (+0.28%) is bucking the regional trend, and trading just below the 41,000 mark. S&P 500 (+0.07%) and NASDAQ 100 (+0.08%) futures are fairly flat and are not being impacted by the China sell-off.
Early morning data showed that Japanese CPI climbed to +2.8% y/y in February (v/s +2.2% in January; +2.9% market consensus), accelerating at the quickest pace in four months with the Core CPI inflation growing at an annualised +2.8% in February as expected, picking up from the +2.0% annualized pace seen in January. Core, core was a tenth below expectations at 3.2%. The Yen is fairly flat after a 8-day losing streak against the dollar as it still remains a global funder even with the landmark first hike in 17 years earlier this week.
To the day ahead now, and data releases include UK retail sales for February, whilst in Germany there’s the Ifo’s business climate indicator for March. Otherwise, central bank speakers include the ECB’s Nagel, Holzmann, Centeno and Lane, along with Fed Chair Powell, and the Fed’s Barr and Bostic.
2 B) NOW NEWSQUAWK (EUROPE/REPORT)
Equities modestly firmer, DXY lifted by broader G10 weakness and Bonds higher; ECB & Fed speak due – Newsquawk US Market Open
FRIDAY, MAR 22, 2024 – 06:42 AM
Equities are modestly firmer; European sports retailers are hit post-Nike earnings
Dollar bid, largely a factor of broader G10 weakness, Antipodeans underperform following the glum mood in China overnight
Bonds continue their dovish price action, and little changed following positive German Ifo
Crude is modestly softer and base metals are entirely in the red, dragged down by Dollar strength
Looking ahead, Canadian Retail Sales, comments from ECB’s Lane, Fed’s Powell, Barr, Jefferson & Bostic
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
EUROPEAN TRADE
EQUITIES
European equities, Stoxx600 (+0.1%) are mostly modestly firmer; Eurostoxx 50 (-0.3%) is lower, with Luxury continuing yesterday’s decline, coupled with a soured risk tone in China overnight.
European sectors are mostly firmer; Consumer Products and Services underperforms with sports brands Adidas (-0.4%), Puma (-1.9%) and JD Sports (-3.2%) all hampered by post-earning losses in Nike. Telecoms is found at the top of the pile.
US equity futures (ES +0.1%, NQ +0.1%, RTY +0.3%) are modestly in the green attempting to build on the prior day’s strength; Nike (-6.6% pre-market) is lower after the Co. noted it had lost market share in the running shoes business and on was downbeat on its H1’25 revenue outlook. details below
Click here and here for the sessions European pre-market equity newsflow, including earnings.
DXY now back above pre-FOMC levels (currently 104.40) despite dovish messaging from Powell. Upside likely in part due to softness elsewhere rather than outright chasing USD longs. Next target comes via the 16th Feb high at 104.67.
EUR is swept up by the broadly firmer USD as encouraging German IFO data was unable to provide support. EUR/USD down to a low of 1.0809 but yet to test 1.08.
JPY is marginally firmer vs. the USD after printing another YTD peak at 151.86 but stopping shy of the 2023 high at 151.94 and 2022 peak at 151.94. For context the pair started the week off at 149.33. A material turnaround in the pair requires a turnaround in the US rates space.
Antipodeans are both performing poorly vs. the USD alongside the downbeat mood surrounding China and Yuan depreciation. AUD/USD as low as 0.6511 with the weekly low just above the 0.65 mark at 0.6504.
CNH is swept up by the firmer USD with USD/CNH as its highest level since November 2023. Reports of Chinese state-owned selling has failed to stop the rot.
PBoC set USD/CNY mid-point at 7.1004 vs exp. 7.2147 (prev. 7.0942).
China’s major state-owned banks were seen to be selling dollars for yuan in the onshore FX market to slow yuan declines, according to sources cited by Reuters.
USTs are firmer but shy of Thursday’s 110-26+ WTD peak. Specifics light thus far but the docket picks up with Fed’s Powell, Jefferson, Barr & Bostic due.
Bunds are in the green in a continuation of the week’s overall dovish action for EGBs. Slightly off the session’s fresh WTD high of 132.68, a modest pullback from this occurred after beats across the board to the latest German Ifo (albeit marginal).
Gilts are firmer though still around 30 ticks shy of Thursday’s 99.91 WTD peak. Specifics light as participants digest the BoE and Bailey’s subsequent press round which was on the dovish side.
Italy sells EUR 2.75bln vs exp. EUR 2.5-2.75bln 3.20% 2026 BTP Short Term: b/c 1.46x and gross yield 3.31%
Crude is modestly weaker having pared much of the overnight weakness, sparked by broader weakness in the commodities complex amid the recovery in the Dollar and risk-off mood in China. WTI bounced off lows of around USD 80.50/bbl and now holds around USD 81/bbl.
Weakness across precious metals as the stronger Dollar exerted pressure while Friday newsflow remains quiet. XAU dipped under yesterday’s low (2,166.45/oz).
Base metals are weaker across the board following the risk aversion from Chinese markets overnight coupled with the recovery in the Greenback.
US has reportedly urged Ukraine to halt strikes against Russian oil refineries, according to FT.
India stop taking Russia oil delivered on Sovcomflot tankers, via Bloomberg.
Pemex reportedly put off repairs at a Gulf of Mexico platform for a number of months, via Reuters citing sources; facility leaked vast volumes of methane due to faulty infrastructure
BoE Governor Bailey said rate cuts were “in play” at future BoE meetings amid signs tighter policy quelled the risk of a wage-price spiral, according to FT.
ECB’s Nagel says probability is rising that rates will be lowered ahead of the summer break, according to Reuters citing Market News.
ECB’s Holzmann says investors should consider the risk that the ECB does not lower rates this year.
Russian Federation Central Bank Key Rate (Mar) 16.0% vs. Exp. 16.0% (Prev. 16.0%)
DATA RECAP
UK Retail Sales MM (Feb) 0.0% vs. Exp. -0.3% (Prev. 3.4%, Rev. 3.6%); Retail Sales YY (Feb) -0.4% vs. Exp. -0.7% (Prev. 0.7%, Rev. 0.5%); Retail Sales Ex-Fuel YY (Feb) -0.5% vs. Exp. -0.9% (Prev. 0.7%, Rev. 0.5%); Retail Sales Ex-Fuel MM (Feb) 0.2% vs. Exp. -0.1% (Prev. 3.2%, Rev. 3.4%)
UK GfK Consumer Confidence (Mar) -21.0 vs. Exp. -19.0 (Prev. -21.0)
German Ifo Current Conditions New (Mar) 88.1 vs. Exp. 86.8 (Prev. 86.9); Ifo Expectations New (Mar) 87.5 vs. Exp. 84.7 (Prev. 84.1, Rev. 84.4); Ifo Business Climate New (Mar) 87.8 vs. Exp. 86 (Prev. 85.5, 85.7).
German Import Prices MM (Jan) 0.0% vs. Exp. -0.3% (Prev. -1.1%); German Import Prices YY (Jan) -5.9% vs. Exp. -7.4% (Prev. -8.5%)
NOTABLE US HEADLINES
FedEx Corp (FDX) – Q3 2024 (USD): Adj. EPS 3.86 (exp. 3.45), Revenue 21.7bln (exp. 22.06bln); Authorises a new USD 5bln buyback programme. Narrows FY earnings outlook range; sees FY24 adj. EPS of 17.25-18.25 (prev. 17.00-18.50, exp. 17.40). Adj. OM 6.2% (exp. 5.63%). Reduces Capital spending forecast to USD 5.4bln from USD 5.7bln. Still sees a low-single-digit percentage drop in FY revenue. CFO says “DRIVE is having a real impact, supporting both operating income growth and margin expansion,”. Says if a new deal is not reached with USPS, the Co can’t adjust FedEx express costs after expiration of contract (September 2024) and profitability could be negatively affected. Says will know in days or weeks if it has a new contact with the US Postal Service which is its biggest customer and with the current contract to expire September 29th. (Newswires) Shares +12.3% pre-market
Nike (NKE) – Although shares initially rallied after its earnings report was published, they slipped into the red during the conference call, ending the extended trading session down 5.7%. It reported Q3 EPS 0.77 (exp. 0.74), Q3 revenue USD 12.43bln (exp. 12.28bln). On call, execs acknowledged that the apparel maker had lost share in its running shoes category. NKE is prudently planning for revenue in the first half of the FY25 to be down low single digits.Shares -6.6% pre-market
Tesla (TSLA) reportedly trims Chinese output amid slow EV sales, according to Bloomberg. Shares -3.2% pre-market
GEOPOLITICS
MIDDLE-EAST
US will reportedly bring a resolution today calling for an immediate ceasefire in Gaza as part of a hostage deal for a vote in the UN Security Council, according to Reuters citing a spokesperson.
US military said it destroyed one unmanned surface vessel and two anti-ship ballistic missiles launched by Houthis in Yemen.
OTHER
Ballistic missiles were reportedly fired from Crimea towards Zaporizhzhia and explosions were heard, according to a source via social media platform X.
China’s special envoy for Eurasian affairs said the Russian side appreciates the diplomacy efforts taken by the Chinese side and produced their own take on peace talks, while the side reiterated its willingness and position on holding serious talks on this crisis. China’s envoy also stated that Russia and Ukraine are keeping to their positions and have huge differences when it comes to peace talks but both sides believe that this crisis will be solved through peace talks, according to Reuters.
China’s embassy in the Philippines said the Taiwan question is not and should never become an issue between China and the Philippines, while it added any attempt to implicate the Taiwan question in maritime disputes between China and the Philippines is dangerous.
IAEA says Zaporizhzhia nuclear power plant has lost connection to main 750 kV off-site power line amid reports of military action in Ukraine; Back-up 330 kV power line at the nuclear power plant are still working.
Russia’s Kremlin says Russia needs to fully “liberate” its “new regions” to ensure peoples’ safety there, according to Tass; Russia regards itself in a state of war amid Western intervention on the Ukrainian side.
CRYPTO
Bitcoin (U/C) holds just shy of USD 65.5k, whilst Ethereum (-0.8%) falls back below USD 3.5k.
APAC TRADE
APAC stocks were ultimately mixed after momentum from the fresh record highs on Wall Street waned.
ASX 200 closed with mild losses with the index weighed on by underperformance in miners amid declines in underlying commodity prices, while the RBA’s Financial Stability Review noted conditions are to remain challenging for households and businesses.
Nikkei 225 swung between gains and losses in which it initially climbed above 41,000 for the first time but then faltered and briefly wiped out all its gains as participants digested somewhat mixed inflation data which was mostly softer-than-expected but the Core reading matched estimates at a four-month high.
Hang Seng and Shanghai Comp. suffered amid weak earnings from the likes of CK Asset Holdings, CK Hutchison, CNOOC and Ping An, while tech slumped after a US Commerce Department official said SMIC may have violated US export controls to produce chips for Huawei.
NOTABLE ASIA-PAC HEADLINES
BoJ Governor Ueda reiterated that the BoJ’s JGB holdings will remain at current levels for the time being and they would like to eventually decrease their JGB buying but will take a wait-and-see stance for the time being. Ueda added that the latest decision is based on the understanding that they will leave it to markets to determine long-term rate moves.
Japanese RENGO 2nd Tally: 5.25% (vs 5.28% in the first tally). Japan RENGO 1st Wage Tally: 5.28% (exp. 4.1%; 2023 final figure 3.6%).
Japan Government says BoJ will continue to work closely to conduct flexible policy and lead to an end of deflation.
RBA Financial Stability Review stated conditions are to remain challenging this year for households and businesses, as well as noted that households have trimmed spending and are underpinned by a strong jobs market and savings buffers.
DATA RECAP
Japanese National CPI YY (Feb) 2.8% vs. Exp. 2.9% (Prev. 2.2%); National CPI Ex. Fresh Food YY (Feb) 2.8% vs. Exp. 2.8% (Prev. 2.0%); National CPI Ex. Fresh Food & Energy YY (Feb) 3.2% vs. Exp. 3.3% (Prev. 3.5%)
2C ASIA AFFAIRS
FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED DOWN 29.08 PTS OR 0.94% //Hang Seng CLOSED DOWN 363.67 PTS OR 2.16% / Nikkei CLOSED UP 72.77 PTS OR 0.18% //Australia’s all ordinaries CLOSED DOWN .23% /Chinese yuan (ONSHORE) closed DOWN 7.2289 //OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2774 /Oil UP TO 81.13 dollars per barrel for WTI and BRENT UP AT 85.80/ Stocks in Europe OPENED MOSTLY ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
2 d./NORTH KOREA/ SOUTH KOREA/
NORTH KOREA/SOUTH KOREA
END
2e) JAPAN
JAPAN
3 CHINA
CHINA/
END
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
EUROPE
Europe also is having massive problems with illegal immigration
(zerohedge//Cody/ReMix)
Illegal Immigration Soars 541% On West African Route Into EU
Europe’s illegal immigration crisis shows no signs of slowing, with the first two months of 2024 showing 31,200 irregular border crossings, which is the same level as last year’s near-record numbers, according to data from Frontex, the EU’s external border agency.
One of the standout data points was the explosive growth along the Western African route into Europe, which jumped 541 percent in the last two months.
“The Western African route remained the busiest migratory route in the EU, with arrivals in January and February reaching nearly 12,100. This was the highest total for these two months since Frontex began collecting data in 2011,” wrote the agency.
In recent months, criminal groups based in Mauritania that focus on human trafficking have been sending sub-Saharan migrants transiting through the country to the Canary Islands, which belong to Spain but lay off the coast of Africa. People smugglers cram these people in ever greater numbers into “cayuco” boats, representing a serious threat to their lives but higher profit margins for the gangs.
Other routes also saw big jumps, including the Eastern Mediterranean route, which saw a 117 percent increase. Meanwhile, the Central Mediterranean route, which saw the largest number of irregular crossings in 2023, “continued to show a downward trend from the recent months, with a year-on-year drop of 70 percent to slightly above 4,300. In January, there were around 2,000 detections on the route.”
Last year saw an immigration tsunami, with more illegal immigrants arriving in Europe than any year since the records set in 2016.
The new numbers are sure to sow worries that the EU will continue to refuse to enforce its borders, especially with the new Frontex chief, Hans Leutens, arguing that immigration is unstoppable. As Remix News reported in January of this year, he said: “Migration is a reality. Nothing can stop people from crossing a border. No wall, no fence, no sea, no river.”
What an interesting approach to border protection from the leader of the European Union’s border agency, Frontex.
Israel joins others in Qatar hostage talks. Israel is planning Rafah attacks
(Jerusalem Post)
Israel to join Gaza hostage deal talks in Qatar, draws up Rafah plans
Barnea to meet Burns in Qatar, Blinken says gaps narrow in hostage talks • IDF arrests 650, including ‘senior Hamas officials,’ in Shifa
Barnea to meet Burns in Qatar, Blinken says gaps narrow in hostage talks
Mossad Chief David Barnea to meet CIA Director William Burns in Qatar. Blinken says gaps between Hamas and Israel narrowing in hostage talks.
By TOVAH LAZAROFFMARCH 21, 2024 18:26Updated: MARCH 21, 2024 22:2
Prime Minister Benjamin Netanyahu seen with Defense Minister Yoav Gallant and Mossad direct David Barnea on May 12, 2023(photo credit: KOBI GIDEON/GPO)
Mossad Chief David Barnea is set to meet CIA Director William Burns in Qatar on Friday, as US Secretary of State Antony Blinken indicated that an agreement could be coalescing between Hamas and Israel for the release of hostages.
“The gaps are narrowing. And we’re continuing to push for an agreement in Doha,” US Secretary of State Antony Blinken told reporters in Cairo during a joint press conference with Egyptian Foreign Minister Sameh Shoukry.
He cautioned, however, that there is “still difficult work to get there. But I continue to believe it’s possible.
Qatari Prime Minister Mohammed Al-Thani and Egyptian Intelligence Minister Abbas Kamal will also participate in the Friday talks, which Blinken hoped would lead to a pause in the war.He said the execution of a deal that could release some 40 of the remaining 134 hostages is at issue.
“The Israeli team that is present [in Doha] has the authority to reach an agreement,” Blinken told Al Arabiya English in a video interview earlier in the day.
Saudi Arabia Crown Prince and Prime Minister Mohammed bin Salman is received by Qatari Emir Sheikh Tamim bin Hamad al-Thani on the sidelines of the World Cup in Doha, Qatar, November 20, 2022 (credit: VIA REUTERS)
He spoke amid reports that constraints had been put on the delegation. The war cabinet is expected to meet on Friday to discuss the talks.
Negotiation efforts amid Gaza crisis
“A very strong proposal was put on the table, and we have to see if Hamas will accept it,” Blinken said.
Blinken called on Hamas to reach an agreement with Israel as he spoke during his sixth visit to the region, which included a brief stop in Saudi Arabia and ahead of his visit to Israel on Friday.“ This could have happened immediately if they had laid down their weapons and released the hostages,” he said.
Blinken said that while he was in Saudi Arabia, he met with its Crown Prince Mohammed Bin Salman to discuss normalization. “We’re continuing to make good progress. I believe we can reach an agreement, which would present a historic opportunity for two nations and the region as a whole.”
Blinken heads to Israel over the need for more humanitarian assistance in Gaza and US objections to the pending IDF military operation to destroy the remaining Hamas battalion in Rafah.
During his Cairo press conference, he had harsh words for Israel on the issue of humanitarian assistance for the Palestinians, stating that it had not done enough to prevent a hunger crisis in the enclave.
“Children should not be dying of malnutrition, in Gaza or anywhere else for that matter. A hundred percent of the population of Gaza is experiencing severe levels of acute food insecurity.“We must not allow that to continue,” Blinken stated.
The Secretary of State also clarified when it came to destroying Hamas in Rafah, it believed that “a major military operation in Rafah would be a mistake, something we don’t support.”“It’s also not necessary [to do that] to deal with Hamas,” Blinken stated.
Prime Minister Benjamin Netanyahu has insisted that such a major operation is the only way that Israel can destroy the remaining Hamas battalions.
An Israeli team led by Strategic Affairs Minister Ron Dermer and National Security Adviser Tzachi Hanegbi are expected to travel to the United States next week to discuss a Rafah operation. The US is expected to lay out Israeli plans for an alternative Rafah strategy that would include more targeted strikes.
“We’re going to have an opportunity next week to share that view with our Israeli counterparts in detail and to lay out our views on how to deal with the problem [of Rafah] differently,” Blinken stated.
Defense Minister Yoav Gallant is expected to head to Washington to meet with Defense Minister Lloyd Austin.
On an episode of the Call Me Back podcast with Dan Senor, Dermer insisted that a major Rafah operation would happen – with or without US support.
“We’re gonna go in and finish this job, and anybody who doesn’t understand that doesn’t understand that the nerve of the Jews, that existential nerve, was touched” by Hamas’s invasion of Israel on October 7, which sparked the Gaza war.
The Rafah operation is “going to happen, and it will happen, even if Israel is forced to fight alone, even if the entire world turns on Israel, including the United States,” he stated.
Israel is determined to destroy Hamas, even if it “leads to a potential breach with the United States,” Dermer said.
Dermer stated that eliminating that group was also critical to plans for the day after the war. Israel is expected to delay a Rafah operation should there be a hostage deal but has said that no permanent ceasefire can occur until Hamas has been driven out of that southern part of the enclave.
“It’s impossible to get to the day-after in Gaza without destroying Hamas,” Dermer said. “No other Palestinians will step forward to be involved in the leadership of the enclave until they know that the terror group is destroyed,” he said.
“You can have a lot of conversations about the day-after plan, but it won’t work if you do it before there is a day-after Hamas,” Dermer said.
In Egypt, Blinken clarified that a Palestinian-controlled Gaza, absent Hamas, was part of a larger normalization arrangement between Israelis and the Arab world, which the Biden administration hoped to bring about this year.
Blinken said he spoke about this plan with Shoukry.
“We also talked about what would be necessary for lasting and enduring peace, and I think in our shared judgment, that includes a Palestinian state with security guarantees for Israel,” Blinken said.
Separately in New York, the US on Friday morning will bring a resolution calling for an immediate ceasefire in Gaza as part of a hostage deal to the United Nations Security Council for a vote, a spokesperson said.
“The United States has been working in earnest with Council members over the last several weeks on a resolution that will unequivocally support ongoing diplomatic efforts aimed at securing an immediate ceasefire in Gaza as part of a hostage deal, which would get hostages released and help enable a surge in humanitarian aid,” Nate Evans, spokesperson for the US mission to the United Nations, said on Thursday.
end
END
ISRAEL/GAZA/HAMAS/SHIFA HOSPITAL
Israel To Invade Rafah ‘No Matter What US Says’: Top Official
THURSDAY, MAR 21, 2024 – 02:05 PM
On Thursday Israel issued its most defiant response yet to Washington pressre that it abandon its plans for a ground invasion of Rafah, over fears of another mass civilian casualty humanitarian disaster, given the high number of refugees packed into the southern Gaza city.
A top Israeli official was quoted in Bloomberg as saying the military is going to invade Rafah and defeat Hamas “even if the entire world turns on Israel, including the United States.” Israeli Strategic Affairs Minister Ron Dermer, issued the words in a podcast interview.
“We are going to go in and finish this job, and anybody who doesn’t understand that doesn’t understand that the existential nerve of the Jews was touched” by the Oct. 7 terror attack, he said.
Dermer pointed out the reality remains that the White House still has yet the definitively rule out any military operation in Rafah. Biden administration statements have demanded that civilians be safely evacuated first, but have been ambiguous on the question of a ground operation.
Dermer explained of what Biden officials have communicated thus far: “They said without a credible way of moving a mass of people out of Rafah and surging humanitarian assistance to them they don’t see how this can be done effectively.”
He continued: “And we are saying we agree with you that we have to move the people out, we agree we have to get humanitarian assistance to them, and we believe we can do it.”
Dermer emphasized that Israel will do what it takes to protect itself even if this brings significant harm to US-Israel relations: “Could you have a breach over Rafah?” he questioned. “You could. We hope we don’t.”
But Israel’s latest plan, featured in fresh Wall Street Journal reporting, is bound for failure:
Israeli security officials are quietly developing a plan to distribute aid in the Gaza Strip that could eventually create a Palestinian-led governing authority there, Israeli and Arab officials said, causing a fierce backlash from Hamas and creating divisions in Israel’s war cabinet.
A top Israeli defense official has held talks with Egypt, the United Arab Emirates and Jordan to build regional support for an emerging effort to enlist Palestinian leaders and businessmen who have no links to Hamas—a U.S.-designated terrorist organization—in distributing aid, some of the officials said.
The plan is essentially to put anti-Hamas Palestinians in charge of the Strip, but naturally this would ensure a civil war type scenario in which the newly installed officials would immediately be targeted by Hamas insurgents. While Israel might benefit from such a ‘divide and rule’ plan, it’s highly unlikely there will be any Palestinians willing to play such a role in a ‘new authority’ over the Strip.
PM Netanyahu has greenlighted a Rafah operation, but officials have said it will take time to both put in place and execute.
END
Blinken’s Dire Warning To Bibi: “You Need A Coherent Plan” Or Face Disaster In Gaza
FRIDAY, MAR 22, 2024 – 01:40 PM
Did Secretary Blinken just deliver Biden’s promised ‘come to Jesus’ message to Israeli Prime Minister Benjamin Netanyahu?
Blinken on Friday warned the Israeli leader and his war cabinet in a meeting that “Israel’s security and its place in the world are in peril”— according to a description of the remarks in Axios. Blinken emphasized to Israel’s leadership that “you might not realize it until it’s too late.”
Blinken warned further that on Israel’s current trajectory and with plans for the ‘day after Hamas’ still up in the air, the Gaza crisis is headed toward an indefinite troop occupation scenario with an insurgency Israel can’t handled. He ultimately conveyed that Israel faces further isolation on the world stage.
“You need a coherent plan, or either you’re going to be stuck in Gaza,” the US top diplomat said per a source that spoke to Axios.
According to more from the closed door remarks, “The Secretary of State said that on the current path, Hamas will stay in control in Gaza or there will be anarchy, which will just create the conditions for more terrorism.”
The Israeli prime minister is then reported to have responded following Blinken’s dire warnings, “We will have our hands full for decades.”
This unusual showdown comes as Israel says it is ready to send forces into Rafah, even if Washington objects, but that it’s ready to facilitate the safe exit of the civilian population. As recently as days ago the White House said it had yet to see a coherent plan for a humanitarian corridor.
While Blinken emphasized that he came to Israel once again as a ‘friend’ – a clear humanitarian strategy needs to be put in place. Netanyahu addressed these US concerns in a statement Friday:
“I told Blinken we recognize the need to evacuate the civilian population from war zones in Gaza and to take care of humanitarian needs and that we are taking action in this direction.”
And yet he also pledged to move forward with the Rafah operation unhindered: “But I also told Blinken that we can’t defeat Hamas without going into Rafah and dismantling the remaining battalions there. I told him that I hope we can do it with U.S. support but if we need to we will do it on our own,” Netanyahu said.
As for Israel’s growing international isolation connected with the soaring civilian death toll in Gaza, world powers continue sparring a the UN Security Council. An AP summary of the resolution said:
The draft that was put to a vote made no direct link to the release of hostages taken during Hamas’ Oct. 7 attack on Israel, which was in the previous draft. But it unequivocally supported diplomatic efforts “to secure such a cease-fire in connection with the release of all remaining hostages.”
Russia complained that a draft resolution calling for ceasefire put forward by the US was in effect a greenlight for Israeli’s military to enter Gaza:
Russia and China on Friday vetoed a U.S.-sponsored U.N. resolution calling for “an immediate and sustained cease-fire” in the Israel-Hamas war in Gaza to protect civilians and enable humanitarian aid to be delivered to more than 2 million hungry Palestinians.
The vote in the 15-member Security Council was 11 members in favor, three against and one abstention.
Russian ambassador to the UN Vasily Nebenzya said the US draft resolution “contains an effective green light for Israel to mount a military operation in Rafah.” He emphasized Russia will no longer tolerate “pointless resolutions, which do not contain a call for a ceasefire which lead us to nowhere.”
ISRAEL/GAZA/HAMAS/SHIFA HOSPITAL
IDF: ‘Very significant’ Hamas officers among 650 nabbed at Gaza’s Shifa hospital
Top PIJ operatives also captured in ongoing raid at Strip’s largest medical complex; military releases drone footage of Hamas gunman waiting to ambush troops in Khan Younis
DF troops operate at Shifa Hospital in the Gaza Strip, in a handout image published by the military on March 19, 2024. (Israel Defense Forces)
Troops have captured some 650 terror suspects, including several “very significant” senior Hamas and Palestinian Islamic Jihad commanders, during an ongoing operation at Gaza City’s Shifa Hospital, the Israel Defense Forces and Shin Bet security agency said Thursday, as talks continued in Qatar to secure an extended truce and hostage deal.
According to the IDF, at least 358 of the detainees were confirmed to be members of terror groups.
The IDF said that Islamic Jihad operatives holed up at the medical center surrendered to troops, including Hussam Salameh, the commander of PIJ’s observation and intelligence unit in Gaza City, and his brother, Wissam Salameh, head of the terror group’s propaganda unit in Gaza City.
In an evening press conference, IDF Spokesman Rear Adm. Daniel Hagari detailed additional senior PIJ operatives who were captured by troops at Shifa, including the commander of the terror group’s Shejaiya Battalion, the deputy commander of PIJ’s Northern Gaza Brigade, and a PIJ commander charged with the terror group’s tunnels in northern Gaza.
Also captured at Shifa were three senior officers in Hamas’s so-called West Bank headquarters, which is tasked with advancing attacks against Israel from the West Bank, the army said.
The Shin Bet named them as Amr Asida, the head of the Nablus unit; Mahmoud Qawasmeh, one of the planners of the 2014 kidnapping and murder of three Israeli teens; and Hamdallah Hassan Ali, who was also involved in directing recent attacks in the West Bank.
Hagari said there were additional “very significant” senior Hamas commanders who were captured by troops at Shifa, but that their identities could not immediately be disclosed due to their ongoing interrogations.
This photo collage released by the IDF on March 21, 2024, shows some of 358 confirmed terror operatives captured by troops at Gaza City’s Shifa Hospital. In all, more than 650 terror suspects were detained. (Israel Defense Forces)
He added that there was still a group of terror operatives holed up at Shifa’s emergency room, and the IDF was working to evacuate civilians from the area first before battling them.
The Shifa operation, now in its fourth day, began as Israel sent a delegation to Doha for negotiations of a truce and the release of 134 hostages held in Gaza — not all of them alive — since Hamas’s brutal October 7 onslaught.
IDF Chief of Staff Herzi Halevi said Thursday after assessing the Shifa operation that it was “very important for pressuring Hamas, it’s very important for pressuring the negotiations.”
This infographic released by the Israel Defense Forces on March 21, 2024, shows senior Hamas and Palestinian Islamic Jihad commanders who were captured during an Israeli operation at Gaza City’s Shifa Hospital. (Israel Defense Forces)
On Tuesday, Qatar-based Hamas chief Ismail Haniyeh charged that the operation had revealed an “endeavor to undermine ongoing negotiations in Doha.”
Hamas accused Israel of killing “dozens of displaced people, patients and medical staff” during the raid at Shifa, though on Wednesday IDF Spokesman Daniel Hagari said that “until now, no civilians, doctors, medical teams — none have been hurt.”
The detained terror suspects were taken to Israel for further interrogation by the Shin Bet.
According to the IDF, troops have so far killed more than 140 gunmen in the raid, which began early Monday and is being carried out by the 401st Armored Brigade, the Navy’s Shayetet 13 commando unit, and other forces.
During scans of the hospital, the only partially working medical facility in the north of the Strip, the IDF said soldiers seized weapons and intelligence documents “that contribute to the continued fighting.”
The fighting at Shifa was ongoing and expected to last several more days until all terror operatives in the area were captured or killed, according to military officials.
IDF Spokesman Rear Adm. Daniel Hagari speaks outside Gaza City’s Shifa Hospital on March 20, 2024. (Israel Defense Forces)
Defense Minister Yoav Gallant on Thursday hailed the ongoing raid, which he said “surprised the terrorists.”
“Nobody expected us to do what we did. There was an assault on a location that half a year ago took us a month to reach; now we did it in a flash,” Gallant said to soldiers of the 414th Combat Intelligence Collection Unit, adding that terror operatives still holed up at the hospital “are considering their future: surrender or death.”
In southern Gaza, meanwhile, the IDF on Thursday released footage captured by a drone showing a Hamas gunman waiting to ambush troops inside a building in the Hamad Town residential complex in Khan Younis, in an operation that was wrapped up earlier this week.
Over five months of war have created critical food shortages among Gaza’s 2.3 million Palestinians that in some areas now exceed famine levels, according to the United Nations.
The head of the World Health Organization said on Thursday that only an expansion of land crossings into Gaza could help prevent famine in the densely populated enclave.
WHO Director-General Tedros Adhanom Ghebreyesus said children in Gaza are dying from the effects of malnutrition and disease, and from a lack of adequate water and sanitation.
“Once again, we ask Israel to open more crossings and accelerate the entry and delivery of water, food, medical supplies and other humanitarian aid into and within Gaza,” he said.
UN aid agencies have said “overwhelming obstacles” to moving aid to the north of Gaza will only be overcome with a ceasefire and the opening of border crossings closed by Israel after Hamas’s October 7 onslaught.
Humanitarian aid parcels attached to parachutes are airdropped from a military aircraft over the Gaza Strip on March 21, 2024. (AFP)
Israel says it puts no limit on humanitarian aid for Gaza and blames slow aid delivery on a lack of capacity or inefficiency among UN agencies.
An Israel official told The Times of Israel that some 200 aid trucks were expected to enter Gaza on Thursday, in addition to 77 aid packages airdropped by Jordan.
On Wednesday night, 15 trucks filled with aid successfully made their way from the southern Gaza Strip to the north, where it has been more difficult to get food.
Tedros said the WHO was particularly concerned about the military operations inside and around the Shifa Hospital complex.
“A planned mission to Al Shifa today had to be canceled due to lack of security… Once again, we call for healthcare to be protected and not militarized.”
International law states that the use of a healthcare facility by an armed party for belligerent acts in a conflict makes that site a legitimate military target.
People fleeing the Shifa hospital compound and its vicinity in Gaza City reach the central part of the Gaza Strip on March 21, 2024. (AFP)
The war in Gaza erupted after Hamas’s October 7 massacres, which saw some 3,000 terrorists burst across the border into Israel by land, air and sea, killing some 1,200 people and seizing 253 hostages, mostly civilians.
Vowing to destroy Hamas, Israel launched a wide-scale military campaign in Gaza, aiming to destroy the terror group and return the hostages. The Hamas-run health ministry in Gaza said Thursday that at least 31,988 people have been killed in fighting so far, a figure that cannot be independently verified and includes some 13,000 Hamas terrorists Israel says it has killed in battle. Israel also says it killed some 1,000 gunmen inside Israel on October 7.
Over half of the hostages abducted by Hamas on October 7 remain in Gaza, after 105 civilians were released from Hamas captivity during a weeklong truce in late November, and four hostages were released prior to that. Three hostages have been rescued by troops alive, and the bodies of 11 hostages have also been recovered, including three mistakenly killed by the military. The IDF has confirmed the deaths of 33 of those still held by Hamas, citing new intelligence and findings obtained by troops operating in Gaza. One more person has been listed as missing since October 7, and their fate is still unknown.
Hamas has also been holding the bodies of fallen IDF soldiers Oron Shaul and Hadar Goldin since 2014, as well as two Israeli civilians, Avera Mengistu and Hisham al-Sayed, who are both thought to be alive after entering the Strip of their own accord in 2014 and 2015 respectively.
Agencies and Lazar Berman contributed to this report.
END
ISRAEL/HAMAS/QATAR/USA
Blinken told Qatar to threaten Hamas with expulsion as hostage talks faltered — report
US Secretary of State Antony Blinken delivered a message to Qatar earlier this month that it must pressure Hamas to accept a temporary ceasefire and hostage release deal or risk being asked to leave by its Doha hosts, CNN reports.
The Times of Israel reported last week that Qatar’s Emir Tamim bin Hamad Al Thani proposed expelling Hamas’s leaders from Doha during a meeting with Blinken days after the terror group’s October 7 onslaught. Blinken at the time signaled that it would be better for Qatar to use its contacts with Hamas — through the office it allowed the terror group to establish in Doha in 2012 at Washington’s behest — to mediate for a hostage deal.
As talks stalled earlier this month, two US officials told CNN that the message from Blinken to Qatari leaders urging them to increase the pressure on Hamas with threat of getting booted was delivered on March 5.
According to the report, Doha received the message without much pushback but it was not clear if the threat was relayed.
Blinken is in the region this week and is expected in Israel on Friday to confer with Prime Minister Benjamin Netanyahu and his war cabinet.
Mossad chief David Barnea will fly to Qatar on Friday amid the ongoing discussions for a potential truce and hostage release deal.
ISRAEL/HOUTHIS
US military says it destroyed ballistic missiles launched by Houthis
The US military says it had destroyed two anti-ship ballistic missiles and an unmanned surface vessel launched by Houthis from Yemen.
“It was determined these weapons presented an imminent threat to coalition and merchant vessels in the region,” US Central Command writes on social media site X.
end
END
WEST BANK
7 hurt in hours-long clashes with terrorist in West Bank; gunman killed in airstrike
Palestinian assailant had opened fire at minibus near settlement of Dolev in the early morning hours; amid manhunt, he engaged in a gunbattle with troops before being killed
Head of the IDF’s West Bank division, Brig. Gen. Yaki Dolf, is seen at the scene of a shooting attack near the settlement of Dolev, March 22, 2024. (Israel Defense Forces)
A Palestinian terrorist opened fire at an Israeli vehicle in the West Bank early Friday morning, leading to an hours-long exchange of fire that ultimately resulted in the gunman being killed in a helicopter strike, according to the military and media reports.
At least seven people were wounded in the clashes with the gunman, one of them critically, media reports and hospital officials said.
According to the Israel Defense Forces, the incident began in the early morning hours, with the terrorist opening fire at a minibus near the settlement of Dolev, causing no injuries.
Troops began a pursuit after the gunman, during which they came under fire several times throughout the morning.
The IDF said it scrambled an attack helicopter and drones in its search for the terrorist.
Footage aired by Palestinian media showed the Israeli helicopter carrying out a strike in the area of the clashes. According to Hebrew-language media reports, the terrorist was killed in the strike.
Hebrew media said seven people were hurt in the incident, including one in critical condition and two in serious condition.
Beilinson Hospital in Petah Tikvah said three people were admitted to the medical center after sustaining injuries in clashes with a Palestinian gunman. One was listed as being in serious condition, the hospital said. The other two were moderately and lightly hurt, it added.
It was not immediately clear where the other wounded were being treated or what their condition was.
Security forces in Jerusalem and the West Bank have been on high alert since the start of Ramadan last week. Tensions were already high between Israelis and Palestinians due to the war between Israel and Hamas in Gaza, triggered by the October 7 massacre, which saw Hamas terrorists murder about 1,200 people, mostly civilians, and kidnap 253.
Since October 7, the IDF has said troops have arrested some 3,500 wanted Palestinians across the West Bank, including more than 1,500 affiliated with Hamas.
Palestinians say over 400 people have been killed by Israeli forces in the West Bank since hostilities broke out, most while carrying out attacks or during clashes with IDF troops during nightly raids that have largely concentrated on a handful of areas in the northern West Bank. However, killings of innocent bystanders have also been alleged
END
/RUSSIA//
terrorist shooting in Moscow many dead
(zerohedge)
Moscow’s Largest Concert Hall Attacked; Explosions & Mass Shootings Reported
UPDATE//LATE THIS AFTERNOON;
At Least 40 Dead, 100 Wounded, After Gunmen Storm Moscow Concert Hall
FRIDAY, MAR 22, 2024 – 02:40 PM
Update(1440ET): Russian state media as well as The Wall Street Journal’s regional correspondent is reportingat least 40 people killed, and over 100 wounded and injured, in the unfolding major terror attack on Moscow’s largest concert hall.
Initial video has emerged showing what appears to be attackers in combat fatigues with assault rifles going around the mall part of the venue (which is attached to the concert hall) and shooing randomly (warning: graphic)…
There are reports from RT of follow-up blasts happening even amid a huge security, police, and emergency response. Watch a live feed from Russian state TV here.
More video of the gunmen shooting bystanders within the concert hall:
BREAKING: Footage shows deadly shooting in Moscow — 40 killed, 100 injured in terror attack in Moscow concert hall, local media reports
A mere days ago the US Embassy in Moscow released the following alert telling all US nationals still in the country to avoid large gatherings and public venues. What did they know
FRIDAY, MAR 22, 2024 – 02:00 PM
Some kind of major attack just occurred at a Moscow concert hall with contradictory breaking reports emerging from on the ground and several circulating unconfirmed videos.
There are possibly at least ten casualties and videos from the scene showing a large fire and plumes of black smoke over the venue. It may have been the result of a large explosion, or possibly even a cross-border drone strike, but conflicting reports say this is likely a mass shooting situation…
Russia’s state RIA Novosti news agency said that several gunmen opened fire on the crowd in Moscow concert hall, resulting in unknown casualties, the AP has cited.
The incident has unfolded at during a week of rapidly escalating cross-border attacks on Russian territory from Ukraine, and also large-scale retaliatory strikes on Ukraine by Russian aerial forces.
Reports of armed men storming the concert hall, but the visuals also strongly suggest a large explosion…
BREAKING – Multiple fatalities reported after shooting in a Moscow concert hall in Russia, concert hall reportedly on fire
Nike warns of sales dropping. Global sales dropping
(zerohedge)
Nike Warns Of Sales Squeeze During Sneaker Shift
FRIDAY, MAR 22, 2024 – 07:45 AM
Nike shares fell in premarket trading following the sportswear company’s announcement on Thursday that sales are expected to decrease to the low single digits during the first half of the fiscal year. This comes as the company makes efforts to adjust its product lineup to more closely align with consumer tastes.
Shares of the retailer were down more than 6% in premarket trading in New York after a post-earnings conference call on Thursday evening, in which executives revealed Nike had lost market share in running shoes.
Nike CFO Matt Friend told investors that reducing supplies of “classic” shoes, including Air Force 1 sneakers, was made to refocus efforts on new product development and upcoming launches.
For the first half of the year, Nike forecasts revenue will fall to the low single digits beginning in June. Bloomberg data shows analysts had projected a 4% rise in the first quarter and a 6% gain in the second.
Bloomberg Intelligence analyst Poonam Goyal said the dismal outlook for the year’s first half “raises eyebrows” but expects innovation to continue at the world’s largest sportswear company.
Despite the first-half slump, Nike expects revenue and earnings to grow next fiscal year, excluding the impact of an ongoing organizational restructuring plan amid weaker sneaker and apparel demand.
“We know Nike’s not performing at our potential,” CEO John Donahoe told investors, adding, “It’s been clear that we need to make some important adjustments.”
RBC Capital Markets analysts downgraded their recommendation on Nike to sector perform, citing organizational restructuring and product transition will increase uncertainty and guidance risk.
Here’s what Wall Street analysts are saying (list courtesy of Bloomberg):
RBC Capital Markets, Piral Dadhania (cuts to sector perform from outperform)
“Nike’s unexpected first glance guide for 1H25E implies no revenue growth for cal 2024, which leaves little to play for in the near term”
Sees the organizational restructuring and product transition over next few quarters adding further uncertainty and guidance risk
There is no doubt Nike will emerge a better company in a better phase of its business cycle, but Dadhania prefers outperform-rated Adidas
PT cut to $100 from $110
Piper Sandler, Abbie Zvejnieks (neutral)
Near-term sales will be pressured by product lifestyle management as the company refocuses on product innovation and wholesale reinvestment
“A lack of precedence on new product gives us limited conviction on what NKE’s growth rate will look like exiting this transition period”
Notes that reinvestment in wholesale channel will likely pressure high-teens operating margin targets
PT lowered to $98 from $107
Morgan Stanley, Alex Straton (overweight)
Guidance for 4Q and 1H both disappointed, and pushed the catalyst path of the stock out
Nike’s strategy “seems to be evolving in unexpected ways each quarter, lending credence to the market view that it feels reactive”
Straton remains overweight on a near-term basis and still sees positive EPS revisions being possible in 2H, but she is “incrementally less constructive following the print”
TD Cowen, John Kernan (market perform)
Revenue declines in 1H should put pressure on valuation as well as consensus estimates; Kernan’s new FY25 EPS forecast is below consensus
“Competitive environment and channel dynamics are more challenging than we can remember”
PT cut to $91 from $104
Separately, Lululemon said Thursday that visits to US stores slowed and expects lower-than-expected sales outlook for the first quarter and full year.
Lululemon CEO Calvin McDonald told analysts on an earnings call that US consumers “are a little soft coming into the year.” However, he pointed out that “all international markets, including Canada, are continuing their strong momentum.”
Röltgen et al. showed this in their paper on Original Antigenic Sin “Immune imprinting, breadth of variant recognition, & germinal center response in human SARS-CoV-2 infection & vaccination”
Again, what did Malone know and when did he know it and why did he not warn people about persistence so that they may not have taken the shot and died? This was his ‘baby’ as he said…he ‘invented’ it he said…his mRNA technology he said Kariko et al. basically stole his glory…he intimated…why did he not tell the world that the proper long-term safety tests were never done…on his mRNA technology or vaccine…I am not talking about what he is doing now running to the hills and hiding in the Freedom Movement, publishing every Tom Dick and Harry work as if his own on everything to do with harms…what did Türeci know and when? what did Bourla know and when did he know it? What did Sahin and Bancel and Weissman (also inventor) know and when did these people know it? They failed to warn the public…people died! Should they not face proper legal inquiry? Why have these people, all linked to the mRNA technology remained silent and played games? So, we can get some answers to pressing questions? All we seek are answers. We praise and celebrate these people if shown to be above board and punish them if courts and judges pronounce, that they killed people. We cannot depend on EPOCH or DEL or CHD or any of these outfits…nothing different than legacy media…same horse, just different saddle in my culture. I am waiting for Jan Jekielek to sit Malone or Bourla or Bancel or Weissman or any of these people, to sit them down for a ‘real’ interview with proper questions on their mRNA technology and the harms and deaths caused. Ok Jan, just ask us, we will give you the questions. Remember I interviewed with you, I know the set up, we wish a real interview with these people. We do not wish them talking about other people’s work. No. No more misdirection and games. It is time you return to the media expert you are and do the public some justice. I turn to you for leadership in this failure.
said committed “crimes against humanity” during the Covid pandemic.” I agree, I say hang them high, once we show in courts, judges, juries rule and they are guilty, we hang high…have no mercy
crime bandits that abound. Sadly, IMO, looking on, forces are at play 24/7 working to destroy USA and make her into a 3rd world hellhole shithole like Yemen, North Africa, Middle East; STAND UP!
Top Dem Shows Up to Hearing Wearing a Putin MaskAs House Republicans persist in their investigation into accusations of influence peddling by President Joe Biden’s family, a Democratic representative opted for a fresh strategy to express disapproval towards the hearing.READ THE FULL REPORT
Biden Nominee Self-Destructs When Asked This One Simple QuestionDuring a confirmation hearing on Wednesday, United States District Judge Nancy Maldonado from the Northern District of Illinois faced difficulty in providing a response when questioned by Republican Sen. John Kennedy of Louisiana about the definition of “assault weapons.”READ THE FULL REPORT
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
7//OIL ISSUES//NATURAL GAS ISSUES//ELECTRICAL GRID ISSUES// RENEWABLE ENERGY ISSUES//USA AND GLOBE//GLOBAL SHIPPING
“Terrified” Joe Biden Demands Ukraine Halt Strikes On Russian Refiners As It Is Sending Oil Prices Surging
FRIDAY, MAR 22, 2024 – 12:20 PM
If anyone is wondering what is the one, sole driving force behind Joe Biden’s foreign policy, here is the answer: It’s always been about the oil, stupid. Whether it was becoming best friends with the “evil dictators” in Iran and Venezuela in hopes of keeping their oil output in the market and depressing the price of the commodity, or enacting purely optical sanctions on Russian oil exports which have led to record oil exports – and export revenues – by the Putin regime, the handlers of the senile president have been terrified of any false move that sharply reduces the supply of oil or its byproducts in the global market, sending commodity prices – and inflation – surging, and crushing Biden’s re-election chances.
Which brings us to the latest surreal news.
Recall that in recent days, Ukraine has taken its drone attack raids deep inside Russian territory, hitting Putin where it hurts, namely bombing one Russian oil refinery after another. Now granted, Ukraine can do far worse and sink Russian oil tankers, but Kiev understands that this would spark outrage at the White House as it would instantly send oil prices surging, although once Trump is in the White House, Ukraine will have no such concerns as we pointed out earlier this week.
Ukraine only attacking Russian refineries with drones instead of sinking Russian tankers as that would send oil soaring and would cripple Biden re-election odds. Once Trump wins, Ukraine will go scorched earth on Russian oil infra/tankers.
… this morning the FT reported what our readers already knew, namely that the Biden admin is freaking out that Ukraine’s drone strikes “risk driving up global oil prices” which is why Biden has “urged Ukraine to halt attacks on Russia’s energy infrastructure.”
And it wasn’t just once, or twice: the “repeated warnings” from Washington were delivered to senior officials at Ukraine’s state security service, the SBU, and its military intelligence directorate, known as the GUR, sources told the Financial Times, as both intelligence units had steadily expanded their own drone programs to strike Russian targets on land, sea and in the air since the start of the Kremlin’s full-scale invasion in February 2022.
One person said that the White House had grown increasingly frustrated by brazen Ukrainian drone attacks that have struck oil refineries, terminals, depots and storage facilities across western Russia, hurting its oil production capacity as we discussed previously. But what is really being hurt is America’s enthusiasm to refill their car after the average gasoline price in the US soared above $3.50, the highest since October and above year-ago levels.
And about to go higher…
As the FT redundantly notes, “Russia remains one of the world’s most important energy exporters despite western sanctions on its oil and gas sector.” Of course, the “despite” here is a joke: if western sanctions really wanted to halt Russian oil exports they would; instead just like in the case of Ukraine targeting Russian oil infrastructure, “virtuous” western leaders are all about “helping” Ukraine (of course with your money, dear taxpayers) as long as it does not interfere with their re-election chances. Which means keep any sanctions purely in the optical arena as the alternative is a sharp spike in oil prices. Indeed, oil prices have risen about 15 per cent this year, to $85 a barrel, pushing up fuel costs just as the figurehead in the White House begins his campaign for re-election.
The White House is also concerned that if Ukraine keeps hitting Russian facilities, including many that are hundreds of miles from the border, Russia could retaliate by lashing out at energy infrastructure relied on by the west. This includes the CPC pipeline carrying oil from Kazakhstan through Russia to the global market. Western companies including ExxonMobil and Chevron use the pipeline, which Moscow briefly shut in 2022.
“We do not encourage or enable attacks inside of Russia,” an NSC spokesperson said. The CIA declined to comment. In Kyiv, a spokesperson for the SBU declined to comment. Officials at GUR and Zelenskyy’s office did not respond to requests for comment.
As reported previously, Ukraine had stepped up its air attacks in recent weeks, as its drone programs expand and the ground war shifts in Moscow’s favor. It also follows growing discontent in Kyiv over what is seen as the west’s ambivalent approach to curbing Moscow’s energy revenues. Since 2022, there have been at least 12 attacks on major Russian refineries, and at least nine this year, along with several terminals, depots and storage facilities, according to a military intelligence official in Kyiv.
Ukraine has steadily increased drone strikes as its technologies have advanced. Ukrainian officials claim to have developed drones with a range in excess of 1,000km and payloads capable of inflicting severe damage. Kyiv launched two of its largest and most widespread drone attacks last week, with operations by both the GUR and SBU successfully targeting seven Russian energy facilities in consecutive days.
Over the past year, GRU and SBU sea drones have also struck Russian ports, destroyed several Russian warships in the Black Sea and hit Moscow’s prized Crimea bridge connecting Russia to the occupied Ukrainian peninsula. The aim of the “special operations” is to hamper the supply of fuel to Russia’s troops and cut funding for the Kremlin’s war effort, according to one Ukrainian official involved in planning and conducting the attacks. This is something the West pretendedit was doing with “sanctions” which turned out to be anything but.
Helima Croft, a former CIA analyst now at RBC Capital Markets, recently noted that Ukraine had shown it could strike most of the oil export infrastructure in western Russia, putting about 60 per cent of the country’s exports at risk.
After the Financial Times published news of the US warnings on Friday Olha Stefanishyna, Ukraine’s deputy prime minister for European and Euro-Atlantic integration, was asked how Kyiv had responded to the Biden administration’s appeals to stop attacks on Russian refineries.
She said: “The Ukrainian side responded, I think, precisely by achieving its goals and by very successful operations conducted on the territory of the Russian Federation.”
“We understand the appeals of our American partners,” Stefanishyna told an audience at the Kyiv Security Forum. “At the same time, we are fighting with the capabilities, resources and practices that we have today.” She said energy facilities were legitimate targets from a military point of view, even as the Biden admin clearly disagreed.
In other words, a defiant Ukraine is now openly biting the hand that feeds it. Which means that Ukraine’s attacks on Russian refiners is rapidly emerging as a problem that only such a legendary energy expert as Hunter Biden can solve.
* * * *
“Nothing terrifies a sitting American president more than a surge in pump prices during an election year,” said Bob McNally, president of consultancy Rapidan Energy and a former White House energy adviser.
Hilariously, while the air campaign is also seen by some officials as a means to spur Washington into approving the $60bn military assistance package held up in Congress that is critical for Ukraine’s defence, what is more likely to happen is that even Biden decides to give more funding to Ukraine which is now using US made weapons to directly reduce his re-election chances.
end
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS FRIDAY MORNING 7;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0819 DOWN .0043
USA/ YEN 151.58 DOWN .054 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2764 DOWN .0035
USA/CAN DOLLAR: 1.3579 UP .0051 (CDN DOLLAR DOWN 51 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 29.08 PTS OR 0.94%
Hang Seng CLOSED UP 363.63 POINTS OR 2,16%
AUSTRALIA CLOSED DOWN 0.23% // EUROPEAN BOURSE: MOSTLY ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: MOSTLY ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 363.63 PTS OR 2.16%
/SHANGHAI CLOSED DOWN 29..08 PTS OR 0.94%
AUSTRALIA BOURSE CLOSED DOWN 0.23%
(Nikkei (Japan) CLOSED UP 72,77 PTS OR 0.18%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2166,70
silver:$24.59
USA dollar index early FRIDAY morning: 104.08 UP 41 BASIS POINTS FROM THURSDAY’s CLOSE.
The USA/Yuan, CNY: closed ON SHORE CLOSED DOWN AT 7.2296
THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2692)
TURKISH LIRA: 32.04 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.729…
Your closing 10 yr US bond yield DOWN 5 in basis points from TUESDAY at 4.223% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield 4.400 DOWN 4 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.602 DOWN 3 BASIS PTS.
GOLD AT 11;30 AM 2170.55
SILVER AT 11;30: 24.73
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: FRIDAY CLOSING TIME 12:00 PM//
London: CLOSED UP 52.23 PTS OR 0.66%
German Dax : CLOSED UP 28.22 PTS OR 0.16%
Paris CAC CLOSED DOWN 29.91 PTS OR 0.37%
Spain IBEX CLOSED UP 74.80 PTS OR 0.65%
Italian MIB: CLOSED UP 53.19 PTS OR 0.15%
WTI Oil price 80.89 12: EST/
Brent Oil: 85.46 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 92.76 ROUBLE DOWN 0 AND 69/100
GERMAN 10 YR BOND YIELD; +2.3265 DOWN 7 BASIS PTS
UK 10 YR YIELD: 3.9720 DOWN 5 BASIS POINTS
CLOSING NUMBERS: 4 PM
Euro vs USA: 1.0802 DOWN .0060 OR 60 BASIS POINTS
British Pound: 1.2689 DOWN .0072 or 72 basis pts
BRITISH 10 YR GILT BOND YIELD: 3.998 DOWN 2 BASIS PTS//
JAPAN 10 YR YIELD: 0.729%
USA dollar vs Japanese Yen: 151.46 DOWN 0.171//YEN UP 17 BASIS PTS//
USA dollar vs Canadian dollar: 1.3613 UP .0085 CDN dollar DOWN 85 basis pts)
West Texas intermediate oil: 80.71
Brent OIL: 85.47
USA 10 yr bond yield DOWN 5 BASIS pts to 4.219%
USA 30 yr bond yield DOWN 5 BASIS PTS to 4.393%
USA 2 YR BOND: DOWN 3 PTS AT 4.602%
USA dollar index: 104.20 UP .534 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 32.04 (GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 92.79 DOWN 0 AND 73/100 roubles
GOLD 2162.25 3:30 PM
SILVER: 24.66 3:30 PM
DOW JONES INDUSTRIAL AVERAGE: DOWN 306.06 PTS OR 0.77%
NASDAQ UP 19.07 PTS OR 0.10%
VOLATILITY INDEX: 12.91 UP 0.01 PTS OR 0.77%
GLD: $200.35 DOWN 1.62 OR 0.80%
SLV/ $22.56 DOWN 0,09 OR 0.40%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
‘Powell Put’ Sparks Surge In Stocks, Bonds, & The Dollar; Bullion & Black Gold Flat On Week
FRIDAY, MAR 22, 2024 – 04:00 PM
Positive macro, central bank love-fest, and AI catalysts… buy all the things…
US Macro ‘outperformed’ expectations this week amid more pro-cyclical data points…
Source: Bloomberg
…which combined with a dovish tilt by Powell (which lifted 20-24 rate-cut expectation)…
Source: Bloomberg
…and positive AI catalysts…
Source: Bloomberg
Put this all together – rates, growth, and secular momentum –and it is perhaps not surprising that stocks have reached another all-time high in the US.
Led to a solid week for all the majors with Nasdaq outperforming…
The S&P 500 trades at a 2025 P/E of 20+.
So the question may simply be: can the rates/growth/secular innovation dynamic be sustained long enough to allow corporate earnings to grow into the current market’s valuation?
Shorts were aggressively squeezed Wednesday an Thursday…
Source: Bloomberg
Treasury yields ended the week lower, including the long-end (-4bps), but the short-end outperformed (-13bps)…
Source: Bloomberg
Which left the curve (2s30s) stepper on the week….
Source: Bloomberg
The dollar roared back to six week highs this week…
Source: Bloomberg
Bitcoin ETFs saw large net outflows this week…
Source: Bloomberg
And that weighed on the underlying with spot bitcoin back at $64,000…
Source: Bloomberg
Gold ended the week around unchanged, despite a hige spike intraweek to a new record high…
Source: Bloomberg
Crude prices ended the week unchanged, roundtripping from the early week gains…
Source: Bloomberg
And finally, this is not good news for Biden and his biddies…
Source: Bloomberg
Pump prices are heading up… and Biden’s approval rating down at the sane tune.
END
MORNING TRADING/
AFTERNOON TRADING/
II USA DATA
TUCKER CARLSON…
END
III USA ECONOMIC COMMENTARIES
Migrants were upset that National Guard were throwing them back into Mexico so they stormed the Southern border fence at El Paso
(zero hedge)
“Invasion”: Riot Erupts After Migrant Swarm Breaches US Southern Border, National Guard Left Helpless
THURSDAY, MAR 21, 2024 – 04:51 PM
Shocking scenes were caught on tape in El Paso – which technically is in Texas but may as well be in Mexico – on Thursday afternoon when a massive swarm of angry illegal aliens stormed the key chokepoint to the US southern border, breaking through the border wall and steamrolling National Guard troops.
For those still unconvinced, this nation is being invaded, this video of illegals storming the border today should convince you otherwise.
The illegal immigrants are seen pulling the barrier open as four National Guardsmen try to keep them from crossing the border in the video posted on X by New York Post reporter Jennie Taer Thursday. The illegal immigrants rush through the gap opened, almost tramping the National Guard personnel, until coming up against a second, sturdier barrier.
This is the moment when TX National Guard became overrun by migrants rioting to get across the border here in El Paso today We were there and saw it all happen. Absolute chaos here.
·
4.1M Views
This is the moment when TX National Guard became overrun by migrants rioting to get across the border here in El Paso today
President Biden’s disastrous open border policies have endangered the lives of American troops and citizens, just so Democrats can cheat in the next elections and flood mail-in ballots with votes from illegals. No other nation in the world, not even Europe’s socialists, is willing to tolerate an invasion of this magnitude that has flooded the US with ten million illegals under Biden, who reversed multiple border-crossing policies initiated by Trump on his first days in office.
Texas has been clashing with the Biden administration over the state’s efforts to stop illegal immigration, with the United States Court of Appeal for the Fifth Circuit placing legislation that would allow state and local law enforcement to arrest illegal immigrants on hold.
Republican Gov. Greg Abbott of Texas has called up the state’s National Guard to assist in erecting barriers to prevent illegal entry at places like Eagle Pass, which has been a hot spot for illegal crossing.
end
My goodness!
(zerohedge)
Drone Video Reveals Massive NYC Migrant Tent City, Kept Under Wraps By Democrats & Media
THURSDAY, MAR 21, 2024 – 12:45 PM
Democrats in New York City and their allies in leftist corporate media are keeping a massive migrant shelter hidden from the public, located at a previously operational airfield in southern Brooklyn. This comes as the metro area has been flooded with upwards of 175,000 illegals in just a few short years.
According to a recent AFP News report, large white tents full of Central and South Americans, Africans, Chinese, and Russians are packed like cattle on one of the runways at Floyd Bennett Field. It’s hard to say how many migrants are in the tent city, but some figures put it at nearly 2,000.
Corporate media has largely ignored this sprawling tent city of illegals. Only a handful of articles have been published about it over the last three months.
Forget legacy media outlets whose journalists are bought and sold by mega-corporations and heavily influenced by Washington’s censorship-industrial complex because citizen journalists have revealed new footage of the migrant tent city.
X user Henry Facey’s drone video of the tent city has been reposted by many on the free speech platform and has since gone viral.
This Is New Drone Footage Taken From The Floyd Bennet Field Illegal Migrant Camp, Marine Park, Brooklyn, New York City
If not for citizen journalists you’d have no idea how massive these illegal immigrants centers are.
A separate investigation by Facey shows another tent city in the metro area.
WHY IS RANDALL’S ISLAND MIGRANT CENTER BEING HID FROM THE MEDIA? I QUICKLY GO OVER LOTS OF WHAT I PERSONALLY SAW IN… AN OVERVIEW OF THE RANDALL’S ISLAND MIGRANT CENTER! Randall’s Island, NYC Video: #0004 Video taken: 01/08/24 – 01/31/24 Video length: 1 minute and 42 seconds
A member of the Lebanese terrorist group Hezbollah was caught entering the country illegally at the Texas border, where he told agents he was plotting to make a bomb once settled in the country, according to a March 19 federal court document.
Basel Bassel Ebbadi, a Lebanese national, told a Texas border agent that he was “here to make a bomb” and that he spent several years training with the Hizballah terrorist group, an alternate name for Hezbollah, and he “was taught to kill people who were not Muslim.”
The group’s main operations are in Lebanon, Mr. Ebbadi’s native country.
Mr. Ebbadi, who is listed as being 22 years old, was transferred to the El Paso Sectors Human Intelligence Unit for further questioning, according to the criminal complaint filed by Border Patrol agent Jose L. Benitez-Medina in the U.S. District Court for the Western District of Texas.
Mr. Benitez-Medina wrote in his complaint that Mr. Ebbadi entered the United States on March 9 by crossing the Rio Grande in an area of Texas that is not a designated port of entry for migrants.
Instead, he crossed into the United States about four miles from the Bridge of The Americas Port of Entry in El Paso. According the court document, the border agent indicated that Mr. Ebbadi volunteered his ties to Hezbollah and was initially processed for entry.
Mr. Ebbadi is currently being held at the El Paso Hardened Facility.
Past Terror Against US
As part of his court complaint, the border patrol agent noted that on Oct. 8, 1997, the United States designated Hezbollah a foreign terrorist organization and that in 2017, officials added “Lebanese Hizballah” as an alias for Hezbollah. He also listed several other aliases for Hezbollah, including Islamic Jihad for the Liberation of Palestine, Islamic Jihad, Organization of Right Against Wrong, Followers of the Prophet Muhammad, and the Revolutionary Justice Organization.
The terrorist group has been found responsible for a number of large-scale terrorist attacks against the United States, including the deadly 1983 suicide truck bombings of the American Embassy and U.S. Marine barracks in Beirut. It has also planted bombs on buses and hijacked passenger airplanes around the world.
In 1994, 85 people were killed when the group detonated bombs at a Jewish community center in Buenos Aires, Argentina.
In 2017, the U.S. Department of Justice (DOJ) levied terrorism charges against a Hezbollah member found to be plotting attacks against U.S. embassies.
In 2004, the national commission appointed to study 9/11 and other terrorist attacks released a 585-page report that concluded that Hezbollah was involved in the 9/11 terrorist attacks. The 9/11 Commission also linked the group to Hamas, the radical militia group that carried out the recently grisly attacks on Israeli civilians on Oct. 7, 2023. Hezbollah leaders praised the attack.
In 2008, the Drug Enforcement Administration (DEA) started Project Cassandra as a way to stymie Hezbollah drug and weapons trafficking operations and money laundering activity in the United States.
However, the DEA initiative was ended by President Barack Obama soon after he took office in 2009.
In 2015, Defense Department financial crimes analyst David Asher, who helped start Project Cassandra, told Politico that the Obama administration expressed concerns the project would lead to alienating Iranian officials.
“They serially ripped apart this entire effort that was very well supported and resourced, and it was done from the top down,” Mr. Asher said.
In May 2023, the DOJ seized 13 website domains it said Hezbollah was using to plot future terrorist attacks, including against the United States.
“Today’s web domain seizures deny terrorist organizations and affiliates significant sources of support and make clear we will not allow these groups to use U.S. infrastructure to threaten the American people,” Assistant Attorney General Matthew G. Olsen said in a statement about the Hezbollah domains.
Suspected Terrorists Living in the US
Earlier this week, the New York Post reported it had obtained internal documents from the agency showing a Hezbollah member had been nabbed at the border in El Paso.
ICE’s El Paso Enforcement and Removal Office declined repeated requests by The Epoch Times to confirm Mr. Ebbadi’s detention.
After several requests made over the course of two days about Mr. Ebbadi, U.S. Customs and Border Patrol finally responded on March 18 with an email indicating only that “the individual referenced is in U.S. custody.”
Media outlets all over the world, including The Jerusalem Post and Hindustan Times, reported on the news that a Hezbollah terrorist was found to have crossed illegally into the United States.
Members of other known terrorist organizations have been living illegally in the United States.
In February, Patrick Lechleitner, President Joe Biden’s acting ICE director, said that in 2023, a Somali terrorist from the Islamic military group al-Shabaab was released into the United States after illegally crossing the U.S. border, The Daily Caller reported. He had been freely roaming until his arrest on Jan. 20 in Minneapolis, according to ICE records.
Al-Shabaab is known to have ties with the al-Qaeda terrorist group, which was linked to the 9/11 attacks
end.
Watch: Leftist Mob Threatens Kyle Rittenhouse Speaking Event At Memphis University
THURSDAY, MAR 21, 2024 – 05:20 PM
Just in time for the 2024 election cycle, leftist activists seem to be ramping up their targeted harassment campaigns of popular conservative figures in what we’re sure will be another “fiery but mostly peaceful” year. This week, a mob of people disrupted a Kyle Rittenhouse speaking event at the University of Memphis, then rushed at attendees while making threats, spitting and attempting to block them from leaving the campus. Clearly, these people didn’t learn their lesson from what happened the last time a mob chased after Rittenhouse.
It’s a reminder that even in the deepest of red states like Tennessee there are still blue cities replete with BLM and Antifa related groups poised to wreak havoc whenever an opportunity is presented. And, there’s no doubt they will continue to be encouraged in their behavior by a grinning, mustache twirling corporate media. Don’t be surprised if scenes like this become a daily occurrence once again the closer we get to November. The pro-woke argument? They believe they are allowed to disrupt your free speech with their free speech.
Comprehensive video evidence shows beyond any doubt that Kyle Rittenhouse was chased and violently attacked by BLM rioters. Of the few shots that he fired with his rifle in self defense, he managed to hit a convicted pedophile, a chronic domestic abuser and a man with a lengthy criminal record carrying a handgun illegally. In other words, the crowd was filled with some of the worst people in Kenosha, Wisconsin.
Due to mainstream media disinformation many leftists still believe today that Rittenhouse is a “racist” that fired on black protesters. They were all white.
Despite all this information and the fact that he was acquitted by a jury the political left continues to view Kyle Rittenhouse as “the one that got away.” In an era of J6 kangaroo courts putting people in prison for decades simply for being in the vicinity of the Capitol building, the expectation among Democrats was that Rittenhouse would be going to prison for life regardless of the evidence in his favor. Instead, they were shocked to discover the courts still function normally in some places and that self defense is still self defense even when woke rioters are harmed in the process.
The ongoing calls for “justice” against Rittenhouse showcase a deep leftist disdain for the legal system. They’re only interested in legal decisions that serve their interests and will applaud when judges and juries do their bidding, but they will also actively disregard any decisions that they don’t like. Meaning, in their eyes Rittenhouse will always be guilty and they will continue to try to punish him outside of the courts.
If one goes deeper into this leftist obsession, though, we find that they hate Rittenhouse less for what he did and more for what he represents. Activists have long operated on the assumption that if they riot in the name of “social justice” they will be allowed to do whatever they want and anyone that stands up to them will be destroyed as a bigot. Rittenhouse was supposed to simply lay down, take a beating from the mob and quietly accept his fate, becoming a joke or an anecdote for why conservatives should submit. Instead he fought back, took his attackers down and got away with it, becoming a symbol for resistance.
Is it any wonder they despise him to this day?
end
Texas is an energy producer: why on earth did they invest in this crazy ESG fund?
(zerohedge)
Texas Pulls $8.5 Billion From BlackRock In “Massive Blow” To “The Scam Of ESG”
THURSDAY, MAR 21, 2024 – 06:00 PM
The examples of the ESG fraud imploding over the last 6 months simply aren’t stopping.
The latest has come from Texas, where the state is now terminating an $8.5 billion investment with BlackRock due to the investment manager’s boycott of energy companies, according to a report from Fox News.
Texas State Board of Education Chairman Aaron Kinsey said this week that the Texas Permanent School Fund notified BlackRock this week that it would be terminating the investment.
Kinsey told Fox News this week: “The Texas Permanent School Fund has a fiduciary duty to protect Texas schools by safeguarding and growing the approximately $1 billion in annual oil and gas royalties managed by the Texas General Land Office. Terminating BlackRock’s contract ensures PSF’s full compliance with Texas law.”
Kinsey added: “BlackRock’s dominant and persistent leadership in the ESG movement immeasurably damages our state’s oil & gas economy and the very companies that generate revenues for our PSF. Texas and the PSF have worked hard to grow this fund to build Texas’ schools.”
“BlackRock’s destructive approach toward the energy companies that this state and our world depend on is incompatible with our fiduciary duty to Texans,” he said.
Texas has made a significant move by divesting a considerable portion of its $53 billion Permanent School Fund (PSF), originally established in the 19th century to support public education. This step marks the largest divestment since GOP-led states began cutting financial relations with BlackRock and similar firms over their adoption of ESG standards.
In response to such opposition, Texas enacted Senate Bill 13 in 2021, mandating the state’s comptroller to identify and list financial entities boycotting fossil fuel businesses. Following this, Texas Comptroller Glenn Hegar updated this list in October to include BlackRock among others, urging the Texas PSF and five state pension funds to cut off from the investment company.
Kinsey concluded: “Today represents a major step forward for the Texas PSF and our state as a whole. The PSF will not stand idle as our financial future is attacked by Wall Street. This bold action helps ensure our PSF remains in fact permanent and will continue to support bright futures and opportunities for generations of Texas students.”
Blackrock responded: “Today’s unilateral and arbitrary decision by Board of Education Chair Aaron Kinsey jeopardizes Texas schools and the families who have benefited from BlackRock’s consistent long-term outperformance for the Texas Permanent School Fund.”
“The decision ignores our $120 billion investment in Texas public energy companies and defies expert advice. As a fiduciary, politics should never outweigh performance, especially for taxpayers,” they added.
But Derek Kreifels, the CEO of the State Financial Officers Foundation, felt differently, offering support for the termination: “Today’s bold step by Aaron Kinsey and the Permanent School Fund of Texas, in accordance with state law, is a massive blow against the scam of ESG.”
“Under Larry Fink’s leadership, BlackRock has been misusing client funds to push a political agenda for years. Nowhere was that more egregious than in Texas, where BlackRock was simultaneously trying to destroy the domestic oil and gas industry while managing funds that depended on royalties derived from that very same industry,” added Will Hild, the executive director of Consumers’ Research.
He said it was a “clear message” to “Wall Street elites that people can no longer be bullied into complying with ESG’s destructive ideology.”
end
They are now coming up to a brick fall on Social Security. They must raise retirement age to 67 and that is only kicking the can another few years
(zerohedge)
Republicans Call For Raising Retirement Age As Social Security Nears Insolvency
THURSDAY, MAR 21, 2024 – 07:20 PM
While at this point pretending that one can somehow stop or deflect the civilization-ending meteor that is the US debt load, rising by $30 billion every day on its way to a terminal reserve currency crisis, is at best rearranging the deck chairs on the titanic, Wednesday the largest caucus of House Republicans called for an increase in the Social Security retirement age up a clash with President Joe Biden over spending on popular entitlement programs.
According to Bloomberg, the Republican Study Committee, which comprises about 80% of House Republicans, called for the Social Security eligibility age to be tied to life expectancy in its fiscal 2025 budget proposal. As a reminder, the social security pension system was created in 1935 when the average life expectancy was 61 for white males and 65 for white females, about 20 years below where it is today. The proposal also suggests reducing benefits for top earners who aren’t near retirement, including a phase-out of auxiliary benefits for the highest earners.
The proposal sets the stage for an election-year fight with Biden, who accused Republicans of going after popular socialist entitlement programs during his State of the Union address.
“If anyone here tries to cut Social Security, Medicare, or raise the retirement age, I will stop you,” Biden said in his March 7 address to Congress. Spoiler alert: he won’t.
Amusingly, the Republican document notes that Biden previously supported increasing the retirement age from 65 to 67 after bipartisan negotiations in 1983.
Rep. Kevin Hern (R-Okla.), the caucus’s chairman, said the president’s opposition to Social Security policy changes would lead to automatic benefit cuts when the program’s trust fund is set for insolvency in 2033. A phased-in retirement age change was a standard feature of past negotiations, he said.
“Anytime there’s been any reforms in history – President Clinton, President Reagan – had a slow migration of age changes for people that are 18, 19 years old,” Hern told reporters Wednesday.
The caucus’s budget proposal is more aggressive than the recent proposal by House Budget Committee Chairman Jodey Arrington (R-Texas), who advanced a budget resolution earlier this month that called for a bipartisan commission to negotiate Social Security and Medicare solvency but didn’t make specific policy recommendations. The Republican Study Committee, meanwhile, called for policy changes that would reduce spending on Social Security by $1.5 trillion and Medicare by $1.2 trillion over the next decade.
Republicans have said their proposals aren’t truly cuts and wouldn’t affect those at or near retirement. But Biden and congressional Democrats such as Rep. Brendan Boyle (D-Pa.), ranking member of the Budget Committee, have said they won’t support an increase in the age of eligibility, which currently sits at 67 (and can start as early as 62 with penalties).
The caucus’s proposal leaves some details out. It calls “modest changes to the primary insurance amount” for those who aren’t near retirement and “earn more than the wealthiest” benefit level. It also proposes “modest adjustments to the retirement age for future retirees to account for increases in life expectancy.” And it would “limit and phase out auxiliary benefits for high income earners.”
The proposal projects to balance the federal budget by 2031, outlining $16.6 trillion in spending cuts over a decade, hardly the stuff a society addicted to fringe welfare benefits will be delighted to hear.
The proposal calls for Medicare spending reductions by implementing a “premium support model” in which private Medicare Advantage plans would compete with the federal Medicare plan. It proposes moving graduate medical education payments, which go to teaching hospitals for their residency programs, into a trust fund separate from Medicare.
As reported previously, Biden’s fiscal 2025 budget proposal, released March 11, called for an increase in the tax rate to support Medicare on those earning more than $400,000 a year, from 3.8% to 5%. It also broadly called for top earners to pay more to support Social Security, but didn’t make specific proposals. White House Office of Management and Budget Director Shalanda Young told reporters the Biden administration doesn’t like the current structure of the payroll tax — which only applies to the first $168,600 of an individual’s income.
CBO projects that Social Security will run chronic deficits over both the short- and long-term. It will run a cash flow deficit of $154 billion in 2023, which is 1.6 percent of taxable payroll or 0.6 percent of Gross Domestic Product (GDP). Over the subsequent decade, Social Security will run $3.5 trillion (2.9 percent of taxable payroll or 1.0 percent of GDP) of cumulative cash flow deficits.
Over the long term, CBO projects Social Security’s cash shortfall will grow to 3.9% of taxable payroll (1.4% of GDP) by 2033, to 5.1 percent of payroll (1.7 percent of GDP) by 2050, to 6.8 percent of payroll (2.3 percent of GDP) by 2075, and to 7.4 percent of payroll (2.4 percent of GDP) by 2097.
CBO projects earlier insolvency dates and a larger 75-year actuarial shortfall than the Social Security Trustees estimated in their 2023 report. While CBO projects OASI insolvency in 2032 and SSDI depletion in 2052, the Trustees expect the OASI trust fund to run out by 2033 and the SSDI trust fund to remain solvent over the next 75 years. And while CBO expects the theoretically combined trust funds to deplete their reserves by 2033, the Trustees expect them to run out a year later, in 2034.
The CBO warns that “as Social Security’s trust funds rapidly approach insolvency, the necessary adjustments to restore solvency will become harder and the burden on beneficiaries more pronounced the longer policymakers wait to act. Enacting trust fund solutions sooner rather than later would help prevent abrupt, across-the-board benefit cuts, allow for targeted adjustments to those who can most afford them, spread the burden of tax and benefit changes across generations, and give today’s workers more time to plan for retirement.”
Unfortunately, raising the retirement age is only the easiest and most palatable of all adjustments. It also delays insolvency by a few years at most. What comes next is far more painful.
The Hertz Meltdown Reveals the Scale of the EV Debacle
The desk of car rental company Hertz is seen at Nice International airport in Nice, France, on May 27, 2020. (Eric Gaillard/Reuters)
Commentary
The Biden administration’s Environmental Protection Agency (EPA) has revealed its ambition: to phase out gas-powered cars in favor of electric vehicles (EVs). Incredibly, this announcement comes as we are flooded with overwhelming evidence that EVs are a market loser.
Indeed, the artificial boom and then meltdown of the EV market is a modern industrial calamity. It was created by government, social media, wild disease frenzy, far-flung thinking, and the irrational chasing of utopia, followed by a rude awakening by facts and reality.
S
CEO of Hertz Stephen Scherr has been booted out due to a vast purchase of an EV fleet that consumers didn’t even want to rent. The company has now been forced to sell them at a deep discount and in a market where consumers are not particularly interested.
Looking back, however, Scherr’s decision to bet everything on an EV boom was a disaster that was highly praised at the time. Only last year, the company bragged: “This morning, [Hertz] was recognized by The White House for our efforts to expand access to electric vehicles across the country. Demand for EV rentals is growing and we’re here to help our customers electrify their travels.”
Pleasing the Biden administration is not the same as pleasing consumers.
The demand turned south fast in a real-world test of drivers. But that’s not all. Hertz could not make their investment pay no matter what they did.
The key issues with EVs are as follows.
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The cost upfront is much higher.
Financing charges are higher.
They depreciate at a higher rate than internal combustion cars.
The insurance is more expensive, by at least 25 percent.
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Repairs are much more expensive, if you can get them done at all, and take longer.
Tires are more expensive and don’t last as long because the car is so heavy.
Refueling is not easy and missteps here can have nightmarish consequences.
They are more likely to catch fire.
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Any motor vehicle accident that impacts the battery can lead to repairs higher than the value of the car, that is totaled with so much as a scratch.
To top it all over, there is no longer any financial advantage to the driver. It now costs slightly more to charge under many conditions than to refuel with gasoline.
The novelty of driving one for a day wears off after the first day. At first they seem like the greatest thing that ever happened, like an iPhone with wheels. That’s great but then the problems crop up and people start to realize that they are fine for urban commutes with home chargers and not much else.
They make truly terrible rentals. Obviously, under rental conditions, people have to use charging stations rather than a charger in the garage. That means spending part of your vacation figuring out where to find one.
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Not all are superchargers, and if it is a regular charger, you are looking at an overnight wait. If you do find a station with fast chargers, you might have to wait in line. They might not work. You waste hours doing this. And you likely have to reroute your trip even to find a station without any certainty that you will get a spot with a functioning charger.
No one wants to do this. When you rent a car, all you want is a car that goes the distance. And typically car rentals are for going some distance else you would just take a taxi or a Lyft from the airport. You might need to drive several hours. And god forbid that this takes place in cold weather because that can reduce your mileage by half. Your whole trip will be ruined.
Why in the world would anyone want to rent one of these things rather than a gas-powered car? You might be better off with a horse and carriage.
Did Hertz think of any of this before they spent $250M on a fleet? Nope. They were just doing the fashionable thing.
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Again, I’m not knocking some uses for EVs. If you think of them as enclosed and souped up golf carts, you get the idea. They can be wonderful for certain urban environments so long as you don’t overuse them and have to get them repaired. You also have to be in a financial position to afford the higher costs all around, from financing to insurance to repairs and tires. And you have to be prepared to take a big loss on resale, if you can even manage to find a buyer.
There is money to be made in this market, as there is with any niche good or service. But that is covered with normal market conditions, not massive subsidies, mandates, and frenzies. The Hertz case proves it. It is a perfect clinical trial of these machines. We now know the answer. They cannot work.
And thank goodness because if the United States truly switched over in a big way from gas to electric, we would face other disasters. The wear and tear on roads is much worse due to the sheer weight of the cars, which is 25 percent higher than gas cars on average. Many parking garages would have to be rebuilt with new reinforcements.
Then there is the strain on the grid. There is no way the industry could handle the demand. Brownouts and travel restrictions would be essential. All this would pave the way toward 15-minute cities.
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Please remember how this craze began. It was lockdown time and automakers suspended orders for parts and chips. They stopped cranking out cars. When demand intensified, the chip makers had moved on to other things, so delays escalated. By the summer of 2021, there was a general panic about a growing car shortage.
At that point, consumers were willing to buy anything on the lot, among which EVs. The sales records were completely misinterpreted. The manufacturers made huge investments, and the car rental companies did too. But the product had not really been tested. That test is taking place now, and the EVs are completely failing.
We keep hearing that this is still too early, that development has a long way to go, that more charging stations are coming, that manufacturers are going to overcome all these problems in time. All of this sounds very similar to what the producers of mRNA shots say: this was just a trial run and they will get better the next time.
Maybe but doubtful. There is a huge problem in the investment market right now. EVs are massive losers. Consumers, manufacturers, car rental companies, and every other market in which these lemons are made available are running away from them as fast as possible. They had their day in the sun and got fried.
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There is another problem: surveillance. The car can be tracked anywhere and shut off at a moment’s notice. This is obviously a great thing if the government desires a social-credit system of citizens control.
At this point, it is doubtful that the industry can recover. And yet, even now, the Biden administration is planning more subsidies, more mandates, more restrictions on gas cars, and digging themselves even deeper into this hole.
“The Biden administration on Wednesday issued one of the most significant climate regulations in the nation’s history, a rule designed to ensure that the majority of new passenger cars and light trucks sold in the United States are all-electric or hybrids by 2032,” reports the New York Times.
You simply cannot make up nuttier stuff. At some point, we could see manufacturers making the cars just to satisfy the central planners but otherwise preparing to chop them up and throw them out. They would likely be happy to dump them in the ocean but that isn’t allowed either.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM…
end
iiiC USA COVID //VACCINE ISSUES
END
FREIGHT ISSUES/USA
END
VICTOR DAVIS HANSON
END
SWAMP STORIES
Another Bite At The Fani: Judge Grants Trump’s Request to Appeal DA Disqualification Decision
Fulton County Superior Court Judge Scott McAfee has granted former President Donald Trump’s request for a certificate of immediate review, allowing the former president and seven co-defendants to appeal the judge’s order denying the disqualification of Fulton County District Attorney Fani Willis.
The certificate of immediate review, filed on March 20 at the Superior Court of Fulton County in Georgia, allows President Trump and seven co-defendants to seek an appeal from the Georgia Court of Appeals, which has the discretion to accept or decline to hear the case.
“Judge McAfee has issued a certificate of immediate review allowing us to take our motion to disqualify Fani Willis directly to the Georgia Court of Appeals,” David Shafer, former chairman of the Georgia Republican Party and one of the seven co-defendants, said in a post on X, formerly known as Twitter, commenting on the judge’s decision.
Besides Mr. Shafer, the co-defendants who can appeal the judge’s disqualification ruling are Rudy Giuliani, Mark Meadows, Robert Cheeley, Michael Roman, Harrison Floyd, and Cathleen Latham.
All of them had joined the initial motion to disqualify Ms. Willis and later joined the motion for a certificate of immediate review.
The request for immediate review, filed on March 18 by Steve Sadow, attorney to President Trump, stems from Judge McAfee’s decision to allow Ms. Willis to remain on the high-profile case, in which the former president is accused of election interference.
President Trump has denied wrongdoing and has called the case a politically motivated “witch hunt” meant to undermine his 2024 comeback bid for the White House.
Ms. Willis was accused of engaging in an “improper” romantic relationship with prosecutor Nathan Wade and benefitting from it financially. The two acknowledged the relationship but denied any financial benefit or conflict of interest.
Judge McAfee said in a March 15 order that there was an appearance of impropriety but that no conflict of interest had been proven.
He found that disqualifying Ms. Willis wouldn’t be the appropriate remedy to the appearance of impropriety and instead ordered Mr. Wade off the case.
Mr. Wade resigned hours after the morning order was issued.
More Details
In earlier testimony, Mr. Wade had acknowledged a romantic relationship with Ms. Willis but testified that it had ended before the election case indictment was handed up.
Judge McAfee noted that Mr. Wade’s inconsistent answers under oath in his recent divorce case showed a willingness to “conceal” his relationship with Ms. Willis, and he opined that an “odor of mendacity” lingered on the prosecution team with Ms. Willis’s and Mr. Wade’s testimonies in his court.
Given the seriousness of the appearance issue as described by the judge, the defendants argued that the removal of Mr. Wade wasn’t sufficient.
Judge McAfee had a 10-day window to decide whether he would allow a review of his disqualification decision.
Allowing review could technically halt pretrial proceedings for up to 45 days while an appeals court decides whether to take the case.
However, in his March 20 certificate of immediate review, Judge McAfee said that the court intends “to continue addressing the many other unrelated pending pretrial motions, regardless of whether the petition is granted within 45 days of filing, and even if any subsequent appeal is expedited by the appellate court.”
The case still has 15 defendants (four have accepted plea bargains) and is expected to run for about six months.
end
Benny Johnson on X: “Rep. @ByronDonalds just dropped the RECEIPTS proving Joe Biden obtained money from the CEFC, which is directly linked to the CCP: “It is clear that the source of this money came from the CEFC and that CEFC is a company that is directly linked to the CCP and the chairman of… https://t.co/pEsWJXCkB0” / X
ROBERT H
“With this revelation, Joe is really a comprised party of China. While some people can suggest or say this is treason the reality is America is comprised beyond belief. What will the world think when it realizes this? More over what does this say about where America and the Western world is headed? Will Europe blindly as a casualty of failing foreign policy? Strangely if one thinks this through, China through a compromised party is weakening the West to serve global hegemony ambitions of China. We would do well to understand as America falls the West will follow if it does not realign itself. In an odd way Ukraine apart from being a money laundry serves to weaken Europe making it venerable to domination by China and not Russia.”
🚨Rep. @ByronDonalds just dropped the RECEIPTS proving Joe Biden obtained money from the CEFC, which is directly linked to the CCP:
"It is clear that the source of this money came from the CEFC and that CEFC is a company that is directly linked to the CCP and the chairman of… pic.twitter.com/pEsWJXCkB0
Trump secures deal for his website takeover with Digital World. Not sure if he can use the money
(zerohedge)
$3.5 Billion For Trump? DWAC Tumbles After Shareholder Approve Deal, Raising Questions Over NY Bond
FRIDAY, MAR 22, 2024 – 11:00 AM
President Trump is billions of dollars richer after shareholders in Digital World Acquisition Corp (DWAC) on Friday approved a merger with Trump’s media startup, Truth Social.
The long-delayed merger adds roughly $3.5 billion to Trump’s net worth – however the former president won’t be able to sell any shares for at least six months unless the board waives it (or they can back a loan), raising questions over whether he’ll be able to leverage it to secure a $464 million bond in his New York civil fraud case – which his lawyers say is “impossible” to secure due to a lack of cash on hand.
If Trump can’t secure the giant sum by Monday, he risks the seizure of assets – which New York has already begun positioning itself to do.
Earlier this week, DWAC sued to force its former CEO, Patrick Orlando, to vote his 14.77% shareholding in favor of the merger, despite an ongoing dispute over compensation, Axios and FT report. Orlando was on the shareholder vote call.
“The professional relationship between Mr Orlando and Digital World became strained and has continued to deteriorate such that there is no assurance that Mr Orlando as a current member of our board or as a controlling affiliate of the sponsor will be co-operative,” DWAC warned in a filing last month.
Following the merger, DWAC will effectively cease to exist, and will be replaced by TMTG – which will be listed on the Nasdaq. Its board of directors will include Donald Trump Jr. as well as several former members of the Trump White House, the report continues. Former Rep. Devin Nunes (R-CA) will serve as TMTG’s CEO.
Meanwhile, and perhaps in anticipation of Trump selling to satisfy the bond, DWAC shares have plummeted on the news to the tune of 8% in early trading.
Beyond Trump’s massive payout from the deal, three hedge funds also stand to make huge profits – Anson Funds, Mangrove Capital Partners and All Blue Capital, which participated in a $50mm convertible debt offering earlier this year after other funds had walked away. They’re sitting on over $400 million in gains as of Thursday’s closing price.
“The return will be amazing,” said one person involved in the financing, per FT. “Trump’s advisers have been keeping him on the sidelines . . . they want to get this vote clear with no issues with the government. Then, on Tuesday when it starts trading, it is game on for Trump.”
end
Trump: “I Almost Have Five Hundred Million Dollars In Cash”
FRIDAY, MAR 22, 2024 – 12:54 PM
Former President Trump on Friday said on Truth Social that “through hard work, talent, and luck, I currently have almost five hundred million dollars in cash.”
The announcement comes as a Monday deadline fast approaches for him to come up with roughly $454 million to stay judgement in his civil fraud case while he appeals.
According to Trump, he had intended to use a “substantial amount” of his money in his presidential campaign.
“THE OFTEN OVERTURNED POLITICAL HACK JUDGE ON THE RIGGED AND CORRUPT A.G. CASE, WHERE I HAVE DONE NOTHING WRONG, KNEW THIS, WANTED TO TAKE IT AWAY FROM ME,” President Trump wrote.
“THAT’S WHERE AND WHY HE CAME UP WITH THE SHOCKING NUMBER WHICH, COUPLED WITH HIS CRAZY INTEREST DEMAND, IS APPROXIMATELY $454,000,000,” he continued.
The judgment total was $363 million, but breaks down with about $355 million of that specifically applying to President Trump, $4 million to be recovered from Eric Trump, $4 million to be recovered from Donald Trump Jr., and $1 million to be recovered from former Trump Organization finance chief Allen Weisselberg.
With the applied 9 percent interest, court filings say the bond comes out to more than $464 million, with a little more than $10 million of that attributed to judgment on Eric Trump, Donald Trump Jr., and Mr. Weisselberg.
Judgment was entered on Feb. 23, kicking off a 30-day clock to post the massive sum, set to expire on March 25.
President Trump, in the post, decried the ruling as an example of “communism in America.”
* * *
Meanwhile, even the AP found that in 70 years of similar cases involving civil fraud, Trump’s stood out as unique.
Dems went from “nobody is above the law” to disregarding the law and at least seven decades of precedent to get Trump no matter what.
President Trump is billions of dollars richer after shareholders in Digital World Acquisition Corp (DWAC) on Friday approved a merger with Trump’s media startup, Truth Social.
The long-delayed merger adds roughly $3.5 billion to Trump’s net worth – however the former president won’t be able to sell any shares for at least six months unless the board waives it (or they can back a loan), raising questions over whether he’ll be able to leverage it to secure a $464 million bond in his New York civil fraud case – which his lawyers say is “impossible” to secure due to a lack of cash on hand.
If Trump can’t secure the giant sum by Monday, he risks the seizure of assets – which New York has already begun positioning itself to do.
Earlier this week, DWAC sued to force its former CEO, Patrick Orlando, to vote his 14.77% shareholding in favor of the merger, despite an ongoing dispute over compensation, Axios and FT report. Orlando was on the shareholder vote call.
“The professional relationship between Mr Orlando and Digital World became strained and has continued to deteriorate such that there is no assurance that Mr Orlando as a current member of our board or as a controlling affiliate of the sponsor will be co-operative,” DWAC warned in a filing last month.
Following the merger, DWAC will effectively cease to exist, and will be replaced by TMTG – which will be listed on the Nasdaq. Its board of directors will include Donald Trump Jr. as well as several former members of the Trump White House, the report continues. Former Rep. Devin Nunes (R-CA) will serve as TMTG’s CEO.
Meanwhile, and perhaps in anticipation of Trump selling to satisfy the bond, DWAC shares have plummeted on the news to the tune of 8% in early trading.
Beyond Trump’s massive payout from the deal, three hedge funds also stand to make huge profits – Anson Funds, Mangrove Capital Partners and All Blue Capital, which participated in a $50mm convertible debt offering earlier this year after other funds had walked away. They’re sitting on over $400 million in gains as of Thursday’s closing price.
“The return will be amazing,” said one person involved in the financing, per FT. “Trump’s advisers have been keeping him on the sidelines . . . they want to get this vote clear with no issues with the government. Then, on Tuesday when it starts trading, it is game on for Trump.”
KING REPORT
The King Report March 22, 2024 Issue 7206
Independent View of the News
DOJ sues Apple over iPhone monopoly in landmark antitrust case – CNBCThe lawsuit claims that Apple’s anti-competitive practices extend beyond the iPhone and Apple Watch businesses, citing Apple’s advertising, browser, FaceTime and news offerings… The Justice Department said in a release that to keep consumers buying iPhones, Apple moved to block cross-platform messaging apps, limited third-party wallet and smartwatch compatibility and disrupted non-App Store programs and cloud-streaming services…https://www.cnbc.com/2024/03/21/doj-sues-apple-over-iphone-monopoly.htmlSince the Justice Department has brought a case against Apple, what comes next? – CNNAttorney General Merrick Garland announced a landmark lawsuit against tech giant Apple over a variety of allegations, including that it: Uses its control over iOS, the iPhone operating system, to block innovative new apps and cloud streaming services from the public Degrades how Android messages appear on iPhones Restricts how competing smartwatches can work with iPhones Hinders rival payment solutions“We allege that Apple has consolidated its monopoly power, not by making its own products better, but by making other products worse,” Attorney General Merrick Garland said in a news conference on Thursday… https://www.cnn.com/business/live-news/doj-apple-antitrust-lawsuit-03-21-24/index.htmlApple, Google to Be Hit by First Probe Under EU Digital Law – BBGMeta also expected to face scrutiny in EU’s Big Tech clampdownApple and Google’s new fees, terms and conditions for app store developers will come under the EU’s focus… Apple fell as much as 4.3%… Alphabet fell 1.0%…https://www.bloomberg.com/news/articles/2024-03-21/apple-google-set-to-be-hit-by-first-probes-under-eu-digital-lawPPLE Apple will pay almost half a billion dollars to investors over sales in ChinaThe Norfolk Pension Fund, a U.K.based group that led the lawsuit, said that they were proud of this victory for their investors… The investors in the lawsuit claimed that Apple CEO Tim Cook did not warn them about the downturn in China sales, as China is a huge market…https://justthenews.com/nation/technology/apple-will-pay-almost-half-billion-dollars-investors-over-sales-china WSJ’s @greg_ip: From TikTok to U.S. Steel to semiconductor investment, decisions that once stayed in the board room now run through Washington. It’s not socialism but the U.S. may be slouching toward state capitalism. My column explores. America Is Sliding Toward Chinese-StyleCapitalism Once China’s state capitalism destabilized the world, it was inevitable the U.S. could not leave its national interest to the free market. But the national interest is easily conflated with personal political interest, and state capitalism with crony capitalism… https://t.co/f6EGNej9atSenators hammer Treasury chief Yellen on possible tax increases for the middle classRepublican senators grilled Treasury Secretary Janet Yellen about expiring provisions of the Trump administration’s Tax Cuts and Jobs Act that could allegedly raise taxes for some Americans…https://www.cnbc.com/2024/03/21/senators-hammer-treasury-chief-yellen-on-possible-tax-increases-.html?taid=65fc954ab19e8e0001572b00GOP leaders unleash on Janet Yellen over $110B energy tax hike24 Republicans accused the Treasury secretary of ‘weaponizing’ the tax codehttps://www.foxnews.com/politics/gop-leaders-unleash-janet-yellen-over-110-billion-energy-tax-hike ESMs rallied sharply from the Nikkei opening until they hit 5315.75 at 3:55 ET. They then sank to 5301.50 at 6:04 ET. ESMs traded sideways until the US rally commenced when the US repo market opened at 7 ET. ESMs surged to a daily high of 5321.50 at 9:41 ET. An early dump pushed ESHs down to 5308.50 at 9:48 ET. ESMs then vacillated wildly in a 13-handle range until they made a minor new daily high of 5322.75 at 12:30 ET. ESMs then sank to 5301.50 at 14:43 ET. The late manipulation took ESMs to 5313.00 at 15:31 ET. ESMs and stocks then sank into the close. June Gold hit an all-time high of 2246.60 at 18:14 ET. It then traded sideways until it broke down after 9 ET. When gold rallies sharply during Asian trading and early European trading, it often gets assaulted in early US trading. Beaucoup traders believe the assault is an intervention. USMs traded mostly in positive territory, but sideways, from the Nikkei opening until they commenced a rally after 3 ET. USMs hit a daily high of 119 20/32 (+26/32) at 7:59 ET, just one minute before the US cash bond market opened. US traders unloaded; USMs sank to a daily low of 118 19/32 at 11 ET. Olive Garden, LongHorn Steakhouse Owner Darden Warns Lower Income Customers Are Pulling Back – “Transactions from incomes below $75,000 were much lower than last year, and at every brand, transactions fell from incomes below $50,000. Similar to Q2, this shift was most pronounced in our Fine Dining segment,” Chief Executive Officer Rick Cardenas told investors on an earnings call…https://www.zerohedge.com/markets/olive-garden-longhorn-steakhouse-owner-darden-warns-lower-income-customers-are-pulling-backWestbrook Defaults on Loan Backed by Four Seasons San FranciscoFlorida-based developer Westbrook Partners has been served a notice of default for a $72.5M loan backed by 222 Sansome Street, home of the Four Seasons San Francisco at the Embarcadero… Westbrook has not made its monthly payment on the loan since December and is behind nearly $3.2M in payments, according to the notice of default, which gives the borrower 90 days to become current, according to a report in the San Francisco Business Times…https://www.globest.com/2024/03/19/westbrook-defaults-on-loan-backed-by-four-seasons-san-francisco/Conservatives furious at Johnson for waiving GOP’s 72-hour rule on $1.2T government funding billJohnson’s office blamed the White House for the rush on $1.2 trillion spending packagehttps://www.foxnews.com/politics/conservatives-furious-johnson-waiving-gops-72-hour-rule-1-2t-government-funding-bill @Rep_Clyde: At 2:32 am—when Americans were sleeping—the Swamp released its second half of the omnibus. 1,012 pages that spend $1.2 TRILLION of taxpayer dollars on disastrous policies. The House is still expected to vote on this monstrosity TOMORROW MORNING. Washington is beyond broken.Swissy Tumbles After SNB Surprises with Rate-Cut (by 25bps to 1.50%)https://www.zerohedge.com/markets/swissy-tumbles-after-snb-surprises-rate-cutPositive aspects of previous sessionStocks rallied sharply because the Fed is unconcerned about inflation nowThe S&P 500 and Nasdaq hit all-time highs Negative aspects of previous sessionGold hit another all-time highApple dragged the Mag 7 and related trading sardines lower Ambiguous aspects of previous sessionHow high will stocks bubble up now that Powell and his ilk are ignoring inflation? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open:Down;Last Hour: DownPivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5247.76Previous session S&P 500 Index High/Low: 5261.10; 5240.66US airline CEOs request meeting with Boeing board to address production problems, WSJ reportshttps://finance.yahoo.com/news/us-airline-ceos-request-meeting-124527295.html Fed Balance Sheet: – $27.621B, Treasuries -$ 8.416B, Loans -$16,574B, Reserves at the Fed: -$71.2Bhttps://www.federalreserve.gov/releases/h41/20240321/Did You Spot the Gorilla in The Fed’s Meeting Room?Monetary policy remains exceptionally loose given one of the fastest rate-hiking cycles seen…policy overall remains very loose despite over 500 bps of rate hikes. The gorilla has gone by largely unnoticed. In this cycle, we can see that – far from conditions tightening – we have instead seen one of the biggest loosening of them in decades… The chart below shows the Effective Fed Rate: the policy rate, plus its expected change over the next year, plus the one-year change in Goldman Sachs’ Financial Conditions Index, which is calibrated to convert the move in stocks, equity volatility, credit spreads and so on to an equivalent change in the Fed’s rate. As we can see, in the three prior rate-hiking cycles the Effective Rate tightened; this time the rate has loosened, by more than it has done in at least 30 years…https://www.zerohedge.com/markets/did-you-spot-gorilla-feds-meeting-roomToday – Traders will play for the Friday Rally. There is no reason to be bearish on ‘risk’ when the Fed has clearly signaled that it is not concerned with recent inflation – and surging energy prices!However, the fact that stocks and ESMs peaked at 12:30 ET on Thursday and then sank, barring one minor rally, for the remainder of the session indicates stocks are extremely tired. Ergo, if stocks rally early and/or at midday, which is highly probable, be alert for another afternoon reversal. ESMs are +7.75; NQMs are +28.50; and USMs are +4/32 at 20:05 ET. Fed Speakers: Fed VCEO for Supervision Barr 12:15 ET, Atlanta Fed Pres Bostic 16:00 ET S&P Index 50-day MA: 5001; 100-day MA: 4782; 150-day MA: 4644; 200-day MA: 4595DJIA 50-day MA: 38,533; 100-day MA: 37,181; 150-day MA: 36,125, 200-day MA: 35,743(Green is positive slope; Red is negative slope) S&P 500 Index (5241.53) – 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 and MACD arepositive – a close below 5133.77 triggers a sell signalHourly: Trender andMACD arepositive – a close below 5207.53 triggers a sell signal CIA blocked feds from interviewing Hunter Biden’s ‘sugar bro’ Kevin Morris during tax probeThe whistleblower informed Oversight chairman James Comer (R-Ky.) and Judiciary chairman Jim Jordan (R-Ohio) that two DOJ officials were summoned to CIA headquarters in Langley, Va. — and told Morris “could not be a witness” for their investigation into Hunter Biden… “It is unknown why or on what basis the CIA allegedly intervened to prevent investigators from interviewing Mr. Morris,” Comer and Jordan wrote in the letter, which was obtained by The Post…https://trib.al/NJEDDZm“Invasion”: Riot Erupts After Migrant Swarm Breaches US Southern Border, National Guard Left Helplesshttps://www.zerohedge.com/geopolitical/migrant-swarm-breaches-us-southern-border-riot-erupts-us-national-guard-members-leftDrone Video Reveals Massive NYC Migrant Tent City, Kept Under Wraps by Democrats & MediaX user Henry Facey’s drone video of the tent city has been reposted by many on the free speech platform and has since gone viral…https://www.zerohedge.com/political/drone-video-unveils-massive-nyc-migrant-tent-city-kept-under-wraps-democrats-mediaPolice department posts photos of suspects with Lego heads to protect IDs under new California lawhttps://trib.al/n2I8kPz @RNCResearch: Biden on Milwaukee radio: “How many Black communities are in a situation where they come from a circumstance where they’re in difficult, where they have difficulty? … Even those families that are really poor don’t have any books in the house.” https://t.co/41XGswTpzSJury finds former Milwaukee election official guilty of election fraud (A rarity in a Dem city!)Kimberly Zapata, the former deputy director of the Milwaukee Election Commission, was also found guilty of misconduct in public office, a felony, after she admitted to using fake names to request military absentee ballots on her work laptop in 2022…https://www.wpr.org/news/jury-former-milwaukee-election-official-guilty-election-fraud-zapataFormer FBI agent accused of ‘revenge porn’ with hidden cameras could have upwards of 80 victims: reporthttps://t.co/hppzgv3G8r @nataliegwinters: “Democrats are playing for keeps, and by keeps, I mean destroying America forever. Republicans care about going viral on Twitter.” https://twitter.com/nataliegwinters/status/1770847607478239524Voter apathy and four key takeaways from Illinois’ 2024 primary electionsThe results don’t represent either a mandate for, or a categorical rejection of, anyone or anything. They can’t when just 20.2% of Chicago voters cast a ballot on Tuesday, likely a new low according to the Chicago Board of Elections. What the results do represent is a growing voter apathy. On both sides… The main message may be that the unions weren’t motivated to come out and organize the votes. There probably wasn’t enough money at stake for them…ht
It is looking like the Democrats are making theft legal in New York. Donald Trump is on the verge of losing nearly a half billion dollars of property in Westchester County because he lost a fraud case where nobody actually was a victim of fraud. The case is a classic study in abuse of power by the New York State Attorney General and a judge willing to suspend reality to bankrupt the GOP nominee for President. Theft appears legal in New York if it is orchestrated by Dems against the GOP. The Appellate Court should step in and put a stop to the theft for the good of everyone.
General Michael Flynn, former head of the Defense Intelligence Agency (DIA) at the Pentagon, is warning of a coming “Black Swan” before the 2024 Election. Is this coming because the Deep State realizes it just cannot beat Donald Trump, and they will do anything to keep Trump from a second term? Who knows what General Flynn knows, but he knows something big and bad is coming. You should take this warning seriously and prepare for rough riding by the fall.
The Fed is damned if it does and damned if it doesn’t when it comes to interest rates. If it raises them, it could cause a financial meltdown. If it lowers interest rates, it could cause a melt up and big inflation, which will cause the poor to suffer even more. With a barrel of oil now trading above $80, the Fed is in a pretty tight box. The Fed is teasing, and it just might do nothing.
There is more in the 52-minute newscast.
Join Greg Hunter of USAWatchdog.com for these stories and more in the Weekly News Wrap-Up for 3.22.24.
Dr. Betsy Eads (who has been on the cutting edge of everything Covid 19 from the beginning) is back with new information as to why everybody needs treatment whether you are CV19 vaxed or unvaxed. This is groundbreaking information you need to hear.
Rep. @ByronDonalds just dropped the RECEIPTS proving Joe Biden obtained money from the CEFC, which is directly linked to the CCP: “It is clear that the source of this money came from the CEFC and that CEFC is a company that is directly linked to the CCP and the chairman of… https://t.co/pEsWJXCkB0” / X
harveyorganblog.com 
