GOLD PRICE CLOSED UP $23.90 TO $2260.90

SILVER PRICE UP 84 cents TO $25.80

Gold ACCESS CLOSED $2283.60

Silver ACCESS CLOSED: $26.17

Bitcoin morning price:$66,605 DOWN 4027 DOLLARS.

Bitcoin: afternoon price: $69,632 DOWN 1135 dollars

Platinum price closing  UP $20.30 TO $921.90

Palladium price; UP $1.30 AT $998.30

END

SHANGHAI GOLD PREMIUM 21 DOLLARS/COMEX GOLD

SHANGHAI GOLD……

…

SHANGHAI GOLD (USD) FUTURES – QUOTES

VENUE:

• GLOBEX

Beginning Monday, April 1, 2024, CME Group settlement data will no longer be accessible through ftp.cmegroup.com and will have a delayed publication time of 12:00 a.m. CT on all cmegroup.com web pages. Learn about alternate ways to access the data in our FAQ.

AUTO-REFRESH IS OFF

Last Updated 02 Apr 2024 06:30:03 AM CT.

Market data is delayed by at least 10 minutes.

MONTH	CHART	LAST	CHANGE	PRIOR SETTLE	OPEN	HIGH	LOW	VOLUME	UPDATED
APR 2024 SGUJ4		–	–	2268.9	–	–	–	0	21:30:01 CT 01 Apr 2024
MAY 2024 SGUK4		–	–	2268.8	–	–	–	0	21:30:01 CT 01 Apr 2024
JUN 2024 SGUM4		2297.7	+14.8 (+0.65%)	2282.9	2289.3	2299.3	2288.8	119	00:58:25 CT 02 Apr 2024
JUL 2024 SGUN4		–	–	–	–	–	–	0	–
AUG 2024 SGUQ4		–	–	2296.7	–	–	–	0	21:30:01 CT 01 Apr 2024
OCT 2024 SGUV4		–	–	2306.6	–	–	–	0	21:30:01 CT 01 Apr 2024
DEC 2024 SGUZ4		–	–	2307.2	–	–	–	0	21:30:01 CT 01 Apr 2024
FEB 2025 SGUG5		–	–	2307.8	–	–	–	0	21:30:01 CT 01 Apr 2024
APR 2025 SGUJ5		–	–	–	–	–	–	0

I will now provide gold in Canadian dollars, British pounds and Euros

4: 15 PM ACCESS

*CANADIAN GOLD: $3097..21 UP $44.20- CDN dollars per oz( * NEW ALL TIME HIGH 3097.21CDN DOLLARS PER OZ//APRIL 2 2024)

*BRITISH GOLD: 1815.54 UP 23.20 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///23.20 BRITISH POUNDS/OZ) APRIL 2/2024

*EURO GOLD: 2120.54 UP 26.12 euros per oz //* (ALL TIME CLOSING HIGH: 21.02.54 EUROS PER OZ//APRIL 2.2024)

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END

EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: APRIL 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,236.500000000 USD
INTENT DATE: 04/01/2024 DELIVERY DATE: 04/03/2024
FIRM ORG FIRM NAME ISSUED STOPPED

---

072 C GOLDMAN 90
118 H MACQUARIE FUT 6
132 C SG AMERICAS 2
167 C MAREX 1
190 H BMO CAPITAL 80
435 H SCOTIA CAPITAL 38
624 H BOFA SECURITIES 1
661 C JP MORGAN 97 122
690 C ABN AMRO 2
726 C CUNNINGHAM COM 1
737 C ADVANTAGE 30 3
800 C MAREX SPEC 1
905 C ADM 30

---

TOTAL: 252 252
MONTH TO DATE: 10,124

JPMORGAN STOPPED (RECEIVED) 122/252 CONTRACTS

FOR APRIL/2024

GOLD: NUMBER OF NOTICES FILED FOR APRIL/2024. CONTRACT:  252 NOTICES FOR 25,200 OZ  or  0.7838 TONNES

total notices so far: 10,124 contracts for 1,012,400   Oz (31.489 tonnes)

FOR  APRIL:

SILVER NOTICES: 11 NOTICE(S) FILED FOR 55,000 OZ/

total number of notices filed so far this month : 50  for 1,750,000 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 UP $23.90

INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD/ :

HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.15 TONNES

/ /INVENTORY RESTS AT 829.00 TONNES

INVENTORY RESTS AT 829.00 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER UP 84  CENTS  AT  THE SLV//

HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 6.721 MILLION OZ OF SILVER INTO THE SLV

// INVENTORY RISES TO 430.806 MILLION OZ/

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 430.806 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A HUMONGOUS SIZED 1658 CONTRACTS TO 161,753 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS SMALL SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR STRONG GAIN IN PRICE OF $0.14  IN SILVER PRICING AT THE COMEX ON MONDAY. WE HAD ZERO LONG LIQUIDATION AT THE COMEX SESSION WITH AGAIN MAJOR SHORT COVERING WITH THE PRICE GAIN.  WE HAD A STRONG 797 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 MONDAY NIGHT: 797 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE  OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.

WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023//  OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.14), AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A HUGE SIZED GAIN OF 2220 CONTRACTS ON OUR TWO EXCHANGES WITH THE STRONG GAIN IN PRICE OF 20 CENTS.

WE  MUST HAVE HAD:

A STRONG SIZED 562 ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 2.465 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 75,000 OZ QUEUE JUMP//NEW STANDING 2.6050 MILLION OZ//

//NEW STANDING FOR SILVER IS THUS 2.6060 MILLION OZ 

WE HAD:

/ HUGE SIZED COMEX OI GAIN/ STRONG SIZED EFP ISSUANCE/ VI)  STRONG  SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 797 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED   564  CONTRACTS //

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS FEB. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF APRIL

TOTAL CONTRACTS for 2 days, total 2359 contracts:   OR 11.785 MILLION OZ  (11795 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  11.785 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: 143.750 MILLION OZ// 4TH HIGHEST ON RECORD.

APRIL: 11.785 MILLION OZ

RESULT: WE HAD A HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1658  CONTRACTS WITH OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//MONDAY.,.  THE CME NOTIFIED US THAT WE HAD A STRONG EFP ISSUANCE  CONTRACTS: 562  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 APRIL. OF  2.465 MILLION  OZ ON FIRST DAY NOTICE FOLLOWED BY TODAYS’ 75,000 OZ QUEUE JUMP

//NEW TOTAL STANDING RISES TO 2.6050 MILLION OZ 

WE HAVE A HUGE GAIN OF 2220 OI CONTRACTS ON THE TWO EXCHANGES WITH THE GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A STRONG SIZED 797 CONTRACTS//SOME FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDDAY  COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS 

THE NEW TAS ISSUANCE THURSDAY NIGHT   (797) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .

WE HAD 11 NOTICE(S) FILED TODAY FOR 55,000   OZ

THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A STRONG SIZED 8630 CONTRACTS  TO 507,408 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 268 CONTRACTS

WE HAD A STRONG SIZED DECREASE  IN COMEX OI (8362 CONTRACTS) DESPITE OUR $18.70 GAIN IN PRICE//MONDAY. THE BANKERS WERE FORCED TO SUPPLY THE NECESSARY SHORT PAPER TO CONTAIN GOLD’S RISE.WE ALSO HAD A RATHER LARGE INITIAL STANDING IN GOLD TONNAGE FOR APRIL. AT 44.8615 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’’S EFP. JUMP TO LONDON OF 1900 OZ.(0.0590 TONNES)

NEW TOTAL Of INITIAL GOLD STANDING 42.043 TONNES FOLLOWED BY TODAY’S 1900 OZ E.F.P JUMP//NEW STANDING 41.9844 TONNES// ALL OF THIS HAPPENED WITH OUR $18.70 GAIN IN PRICE  WITH RESPECT TO MONDAY’S TRADING. WE HAD  A STRONG SIZED LOSS  OF 6088 OI CONTRACTS (18.94  PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2542 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 498,778

IN ESSENCE WE HAVE A STRONG SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 6088 CONTRACTS  WITH 8630  CONTRACTS DECREASED AT THE COMEX// AND A FAIR SIZED 2542 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 6088 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED 1275 CONTRACTS,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2542 CONTRACTS) ACCOMPANYING THE  STRONG SIZED LOSS IN COMEX OI (8630) //TOTAL LOSS FOR OUR THE TWO EXCHANGES: 5820 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 APRIL. AT 44.8615 TONNES FOLLOWED BY TODAY’S 0.059 TONNES EFP JUMP TO LONDON//NEW STANDING 41.9844 TONNES. 

 / 3) ZERO LONG LIQUIDATION WITH THE HUGE JUMP IN PRICE.(ALL OI LOSS DUE TO T.A.S. LIQUIDATION)

//  4)  STRONG SIZED COMEX OPEN INTEREST LOSS/ 5)  FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: FAIR T.A.S.  ISSUANCE: 1275 CONTRACTS/SHORT COVERING FOR SURE.

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 APRIL. :

TOTAL EFP CONTRACTS ISSUED: 7664 CONTRACTS OR 766,400 OZ OR 23.838 TONNES IN 2 TRADING DAY(S) AND THUS AVERAGING: 3832 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 2 TRADING DAY(S) IN  TONNES  23.838 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS  23.838/3550 x 100% TONNES  0.67% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

 FEB  :  171.24 TONNES  ( DEFINITELY SLOWING DOWN AGAIN)..

MARCH:.   276.50 TONNES (STRONG AGAIN/

APRIL:      189..44 TONNES  ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      247.54 TONNES (FINAL)

JULY:        188.73 TONNES FINAL

AUGUST:   217.89 TONNES FINAL ISSUANCE.

SEPT          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

NOV:           312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP

DEC.           175.62 TONNES//FINAL ISSUANCE//

TOTALS: 2,578.08 TONNES/2021

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

MARCH/2022:  409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.

APRIL:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247.44 TONNES FINAL//

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

OCT:  177.57  TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)

NOV.  223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)

DEC:  185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

JAN 2023:    228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!

FEB: 151.61 TONNES/FINAL

MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)

APRIL: 197.42 TONNES

MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY:  151.69 TONNES (WEAKER THAN LAST MONTH)

AUGUST:  195.28 TONNES (A STRONGER MONTH)//FINAL

SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)

OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.

NOV.   239.16 TONNES//WILL BE STRONG THIS MONTH,

DEC. 213.704 TONNES. A STRONG MONTH//

TOTAL FOR YEAR 2023: 2,569.57 TONNES VS  2578 TONNES LAST YEAR

JAN ’24:     291.76 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.//3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL)

FEB’24: 201.947 TONNES

MARCH 2024: 352.21 TONNES//2ND HIGHEST EVER RECORDED EFP ISSUANCE.

APRIL: 23.838 TONNES

SPREADING OPERATIONS

(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW  ACTIVE FRONT MONTH OF FEB. WE ARE NOW INTO THE SPREADING OPERATION OF  GOLD

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE  NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE  ACTIVE DELIVERY MONTH OF FEB., FOR  GOLD: AND MARCH FOR SILVER

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (APRIL), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY.  THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END  OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.

The crooks also use the spread in the TAS  account  (trade at settlement).  They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle  of the  front delivery month cycle. They unload the sell side of the equation, two months down the road.  The crooks violate position limits as the OCC refuse to hear our complaints.

First, here is an outline of what will be discussed tonight:

1.Today, we had the open interest at the comex, in SILVER ROSE BY A GIGANTIC SIZED 1658  CONTRACTS OI  TO 162.317 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  562  CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

MAY 1795   and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 562  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 1658 CONTRACTS AND ADD TO THE 562 E.FP. ISSUED

WE OBTAIN A HUMONGOUS SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 2220 CONTRACTS

THUS IN OUNCES, THE GAIN  ON THE TWO EXCHANGES  TOTAL 11.100 MILLION OZ 

OCCURRED WITH OUR   $.14 GAIN IN PRICE …..

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES

(Peter Schiff)

c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens

ii a) Chris Powell of GATA provides to us very important physical commentaries

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

TUESDAY MORNING/MONDAY  NIGHT

SHANGHAI CLOSED DOWN 2.42 PTS OR 0.08%  //Hang Seng CLOSED UP 390.10 OR 2.36%

/ Nikkei CLOSED UP 35.82 PTS OR 0.09% //Australia’s all ordinaries CLOSED DOWN .10%

 /Chinese yuan (ONSHORE) closed DOWN 7.2359 //OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2627 /Oil UP TO 85.22 dollars per barrel for WTI and BRENT DOWN AT 88.80/ Stocks in Europe OPENED MOSTLY ALL MIXED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL  BY A STRONG 8630 CONTRACTS  TO 498,778 DESPITE OUR STRONG GAIN IN PRICE OF $18.70 WITH RESPECT TO MONDAY TRADING. WE HAD ZERO SPREADER LIQUIDATION BUT MAJOR T.A.S. LIQUIDATION

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE NON  ACTIVE DELIVERY MONTH OF APRIL..…  THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS 2542  EFP CONTRACTS WERE ISSUED: :  JUNE 2542  & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2542 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 6088  CONTRACTS IN THAT 2542 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A STRONG SIZED LOSS OF 8630  COMEX  CONTRACTS..AND THIS STRONG LOSS ON OUR TWO EXCHANGES HAPPENED DESPITE OUR HUGE  GAIN IN PRICE OF $18.70 MONDAY COMEX.  AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR MONDAY NIGHT WAS A FAIR SIZED 1275 CONTRACTS. WE HAD 0 EX FOR RISK ISSUANCE

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:   APRIL  (41.9844 TONNES)  (   ACTIVE MONTH)

HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 24 MONTHS OF 2021-2023:

DEC 2021: 112.217 TONNES

NOV.  8.074 TONNES

OCT.    57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY: 7.2814 TONNES

JUNE:  72.289 TONNES

MAY 5.77 TONNES

APRIL  95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL  YEAR  2021 (JAN- DEC): 601.213 TONNES

YEAR 2022:

JANUARY 2022  17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT.  38.1158 TONNES

OCT:  77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL

Dec. 64.000 tonnes

(TOTAL  YEAR 656.076 TONNES)

2023:

JAN/2023:    20.559 tonnes

FEB 2023: 47.744 tonnes

MAR:  19.0637 TONNES

APRIL: 75.676  tonnes

MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk =  20.338

JUNE: 64.354 TONNES

JULY: 10.2861 TONNES

AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)

SEPT: 15.281 TONNES FINAL

OCT.    35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes

NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK   = 34.9627 TONNES

DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK =  51.707 TONNES

TOTAL 2023 YEAR : 436.546 TONNES

JAN ’24.      22.706 TONNES

FEB. ’24:  66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)

MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES

APRIL: 2024: 41.9844 TONNES

THE SPECS/HFT WERE  UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE $18.70 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A STRONG SIZED LOSS  OF 6088 TOTAL CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR HIGHER PRICE 0F $18.70. THE ENTIRE LOSS IN OI WAS DUE TO T.A.S. LIQUIDATION.

WE HAD A VERY STRONG T.A.S. LIQUIDATION ON THE FRONT END OF MONDAY’S TRADING ALONG.  THE T.A.S. ISSUED ON MONDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. THE HIGH T.A.S. ISSUANCE IS MEANT TO CONTROL THE PRICE OF GOLD

WE HAVE LOST A TOTAL OI OF 18.102 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR APRIL. (44.8615 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S E.F.P. JUMP TO LONDON OF 1900 OZ (0.05909 TONNES)//NEW STANDING; 41.9844

NEW STANDING: 41.988 TONNES

ALL OF THIS WAS ACCOMPLISHED DESPITE OUR GAIN  IN PRICE  TO THE TUNE OF $18.70 

WE HAD REMOVED 268 CONTRACTS  TO THE  COMEX TRADES TO OPEN INTEREST (CROOKS)

NET LOSS ON THE TWO EXCHANGES 6088 CONTRACTS OR 608,800 OZ (18.94 TONNES)

estimated volume today 232,503 //fair

final gold volumes/yesterday  230,124 fair

//speculators have left the gold arena

APRIL 2/ INITIAL  APRIL  GOLD

/ /// THE APRIL  2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	nil oz           .
Deposit to the Dealer Inventory in oz	nil oz
Deposits to the Customer Inventory, in oz	nil oz
No of oz served (contracts) today	252  notice(s) 25,200 OZ 0.7838 TONNES
No of oz to be served (notices)	3374  contracts    337400 oz 10.494 TONNES
Total monthly oz gold served (contracts) so far this month	10,124 notices 1012400 oz 31.489 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

i

total customer withdrawal: nil oz

we had 0

total deposit 0 oz

Adjustments: 1

i) dealer to customer

i) out of ASAHI 86,599.825 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR APRIL.

For the front month of APRIL we have an oi of 3623 contracts having LOST 4658 contracts. We had 4636 contracts served on Monday, so we lost 19 contracts or an additional 1900 oz (0.0590 tonnes) will not stand at the comex as they were immediately EFP’d to London to take delivery over on that side of the pond on a T + 2 basis.

MAY LOST 18 CONTRACTS TO STAND AT 1596

JUNE DECREASED ITS OI BY 4,411 CONTRACTS DOWN TO 424,842 CONTRACTS.

We had  252 contracts filed for today representing  25,200    oz  

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 97  notices were issued from their client or customer account. The total of all issuance by all participants equate to 252   contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 252 notice(s) was (were) stopped  (received) by J.P.Morgan//customer account   

To calculate the INITIAL total number of gold ounces standing for the APRIL. /2024. contract month, we take the total number of notices filed so far for the month (10,124 x 100 oz ), to which we add the difference between the open interest for the front month of  APRIL. (3626  CONTRACTS)  minus the number of notices served upon today  252 x 100 oz per contract equals  1,349,800 OZ  OR 41.9844 TONNES.

thus the INITIAL standings for gold for the APRIL. contract month:  No of notices filed so far (10,124) x 100 oz +  (3626) {OI for the front month} minus the number of notices served upon today (252)  x 100 oz which equals  1,349,800  oz (41.9844 TONNES) 

TOTAL COMEX GOLD STANDING FOR APRIL: 41.9844 TONNES WHICH IS HUGE FOR A NON ACTIVE DELIVERY MONTH IN THE CALENDAR.  

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 oz

total pledged gold: 1,615,085.921   50.23 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD:  17,779,096,149 OZ  

TOTAL REGISTERED GOLD 7,550,370.137  (234.848  tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 10,228,726.223 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 5,935,.285 oz (REG GOLD- PLEDGED GOLD) 184.612 tonnes/dropping like a stone

END

SILVER/COMEX

APRIL 2

INITIAL

//2024// THE APRIL 2024 SILVER CONTRACT//INITIAL

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	322,675.968 oz Brink CNT .
Deposits to the Dealer Inventory	nil OZ
Deposits to the Customer Inventory	599,,692.200 OZ ASAHI
No of oz served today (contracts)	11 CONTRACT(S)    (55,000 OZ)
No of oz to be served (notices)	171 contracts  (855,000 oz)
Total monthly oz silver served (contracts)	350 Contracts  (1,750,000 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 599,662.200 oz

total customer deposits 599,662.200 oz

JPMorgan has a total silver weight: 129.806  million oz/287.735 million  or 45.18%

adjustment: 0

Comex withdrawals:

i) Into Brinks: 9022.260 oz

ii) CNT 313,708 oz

total withdrawal: 322,675..968 oz

TOTAL REGISTERED SILVER: 46.136MILLION OZ//.TOTAL REG + ELIGIBLE. 287.735million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:

silver open interest data:

FRONT MONTH OF APRIL /2023 OI: 182  CONTRACTS HAVING LOST 0  CONTRACT(S). 

WE HAD 15 CONTRACTS SERVED ON MONDAY, SO WE GAINED 15 CONTRACTS OR ADDITIONAL 75,000 OZ WILL STAND AT THE COMEX UNDERGOING A QUEUE JUMP.

MAY SAW A GAIN OF 196 CONTRACTS DOWN TO 117,708

JUNE WAS A GAIN OF 23 CONTRACTS RISING TO 31.

JULY SAW A GAIN OF 1436 CONTRACTS UP TO 26,051

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 15 for 75,000  oz

Comex volumes// est. volume today 70,542 VERY GOOD

Comex volume: confirmed yesterday 63,006 good.

To calculate the number of silver ounces that will stand for delivery in APRIL. we take the total number of notices filed for the month so far at 350 x  5,000 oz = 1,750,000 oz 

to which we add the difference between the open interest for the front month of APRIL (182) and the number of notices served upon today 11 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the APRIL/2024 contract month:  350 (notices served so far) x 5000 oz + OI for the front month of APRIL. (182) – number of notices served upon today 11 )x 500 oz of silver standing for the APRIL  contract month equates to 2.6050 MILLION OZ.  

 New total standing: 2.6050 million oz.

There are 46.136 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!

APRIL 2 WITH GOLD UP $23.90 TODAY; HUG CHANGES IN GOLD INVENTORY AT THE GLD A WITH DRAWAL OF 1.15 TONNES OF GOLD FROM THE GLD.:// INVENTORY REMAINS AT 829.00 TONNES

APRIL 1 WITH GOLD UP $18.70 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD:// INVENTORY REMAINS AT 830.15 TONNES

MARCH 28 WITH GOLD UP $26.30 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD:// INVENTORY REMAINS AT 830.15 TONNES

MARCH 27 WITH GOLD UP $15.00 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 5.18 TONNES OF GOLD FROM THE GLD// INVENTORY FALLS TO 830.15 TONNES

MARCH 26 WITH GOLD UP $1.40 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD INVENTORY RISES TO 835.33 TONNES

MARCH 25 WITH GOLD UP $17.05 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD INVENTORY RISES TO 838.50 TONNES

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: 82900 TONNES

Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them

APRIL 2/WITH SILVER UP 84 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 6.721 MILLION OZ INTO THE SLV// SLV INVENTORY RESTS AT 430.806 MILLION OZ

APRIL 1/WITH SILVER UP 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV// SLV INVENTORY RESTS AT 424.085 MILLION OZ

MARCH 28/WITH SILVER UP 20 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 1.005 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 424.085 MILLION OZ

MARCH 27/WITH SILVER UP 14 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A A DEPOSIT OF 1.691 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 423.079 MILLION OZ

MARCH 26/WITH SILVER DOWN 24 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV A A DEPOSIT OF 0.366 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 421.388 MILLION OZ

MARCH 25/WITH SILVER UP 8 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A HUGE WITHDRAWAL OF 3.887 MILLION OZ INTO THE SLV: SLV INVENTORY RESTS AT 421.022 MILLION OZ

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 430.806 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

2.Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens/

Jamie Dimon Huddles in Private with Biden Bigwigs as His Bank Faces More Crime Charges

By Pam Martens and Russ Martens: April 1, 2024 

Remember that time in 2016 when Attorney General Loretta Lynch decided she would take a private meeting with Bill Clinton on her plane as it was parked on the tarmac in Phoenix – while his wife, Hillary Clinton, was under federal investigation for using an unsafe private email server at her New York home to receive classified government emails when she was Secretary of State?

What President Biden’s Vice President, Kamala Harris, and his Chief of Staff, Jeff Zients, did in mid-March was equally scandalous. Harris had a “one-on-one lunch at the White House” with Jamie Dimon, the Chairman and CEO of the most crime-riddled bank in the United States, JPMorgan Chase. Zients also separately met with Dimon. That reporting comes courtesy of reporters Joshua Franklin and James Politi of the Financial Times (paywall). It has not been disputed by the Biden administration.

Dimon’s private meetings in Washington come as the bank (that has already admitted to a string of five criminal felony charges) is currently facing a serious investigation for “billions” of improperly conducted trades by its federally-insured bank. Two of its federal regulators, the Office of the Comptroller of the Currency and the Federal Reserve, settled those charges in March for a combined $348 million. Both regulators provided extremely sketchy details as to the precise nature of the trading misconduct. JPMorgan Chase revealed in an SEC filing in February that it remains under investigation in the same matter by a third regulator “but there is no assurance that such discussions will result in a resolution,” the bank wrote in the filing.

It would certainly not be the first time that Dimon attempted to throw his weight around in Washington to get his bank out of trouble. During Congressional hearings in 2012, when Dimon was called to testify about his bank allowing its traders to use deposits from its federally-insured bank to gamble in derivatives in London and lose what eventually tallied up to $6.2 billion (the infamous “London Whale” scandal), Dimon had the temerity to wear presidential cuff links to show off a gift from the White House.

Then there was Dimon’s meeting with Attorney General Eric Holder during the Obama administration when JPMorgan Chase was being investigated for widespread mortgage fraud. For what the bank got away with in that matter, see Matt Taibbi’s report revealing that the Justice Department sandbagged their key witness, a former lawyer/ whistleblower inside JPMorgan Chase, who called it “the biggest financial cover-up in history.”

According to the recent Financial Times report, Vice President Harris did not list the luncheon on her official daily calendar, suggesting she knew it was inappropriate. The FT reporters also reveal the following:

“Dimon, one of the most influential voices on Wall Street, also separately met White House chief of staff Jeff Zients while he was in Washington, as well as federal regulators and members of Congress. It could not be learnt what was discussed at the meetings. The White House and JPMorgan, the largest US bank by assets, declined to comment.”

The only reason that Dimon is still called “one of the most influential voices on Wall Street” is because sycophants in mainstream media still call him that. Engaged Americans, like former Labor Secretary and Public Policy Professor Robert Reich, call Dimon an “oligarch” who has “hijacked the system.” Trial attorneys Helen Davis Chaitman and Lance Gotthoffer released a book, JPMadoff: The Unholy Alliance Between America’s Biggest Bank and America’s Biggest Crook, in which they provided this take on Dimon:

“In Chapter 4, we compared JPMC [JPMorgan Chase] to the Gambino crime family to demonstrate the many areas in which these two organizations had the same goals and strategies. In fact, the most significant difference between JPMC and the Gambino Crime Family is the way the government treats them. While Congress made it a national priority to eradicate organized crime, there is an appalling lack of appetite in Washington to decriminalize Wall Street. Congress and the executive branch of the government seem determined to protect Wall Street criminals, which simply assures their proliferation…

“If Jamie Dimon is running a criminal institution, he should be prosecuted for it. And law enforcement has the perfect tool for such a prosecution: the Racketeer Influenced and Corrupt Organizations ACT (RICO).”

In 2014, the non-profit watchdog, Better Markets, filed a federal lawsuit against the U.S. Department of Justice and the man who sat at its helm, Attorney General Eric Holder. The lawsuit challenged what had emerged out of that cozy meeting between Holder and Dimon – a $13 billion out-of-court settlement over the bank’s sale of toxic mortgages.

Better Markets wrote on its website that this was at the time “The largest settlement in U.S. history from a single entity by more than 300%” and that it “granted JP Morgan blanket civil immunity for years of alleged, but undisclosed, pervasive, egregious and knowing fraudulent and illegal conduct that contributed to the 2008 financial crash and the worst economy since the Great Depression.”

Among the allegations in the Better Markets’ press release, these three stood out:

“The Attorney General and other senior DOJ political appointees negotiated directly and entirely in secret with the CEO of JP Morgan Chase [Jamie Dimon], someone who was considered a possible Treasury Secretary just a few years ago.

“The cellphone of DOJ’s third highest ranking official rang with the ‘familiar’ phone number of JP Morgan Chase’s CEO [Jamie Dimon], who called to offer billions of dollars to stop DOJ from holding a press conference and filing a lawsuit in just a few hours. The call worked, and the press conference and lawsuit were both called off.

“DOJ gave complete civil immunity to JP Morgan Chase for defrauding thousands in exchange for $13 billion, via a contract that was negotiated and finalized in secret without any review or approval by a federal court.”

Attorneys for the Justice Department asked the federal court to dismiss the Better Markets lawsuit on the basis that Better Markets lacked standing to file the lawsuit. The U.S. District Court for the District of Columbia did just that in a longwinded decision that effectively stripped Americans of their ability to fight back against the increasingly corrupt nexus between Washington and Wall Street.

If you agree with Wall Street On Parade that the current banking structure in the U.S. represents a threat to national security and economic stability, please contact your U.S. Senators today via the U.S. Capitol switchboard by dialing (202) 224-3121. Tell your Senators to hold immediate hearings on the urgent need to restore the Glass-Steagall Act to separate Wall Street’s trading casinos from federally-insured commercial banks.

END

MATHEW PIEPENBURG

The Implications Of Fatal Debt? Expect More Lies

MONDAY, APR 01, 2024 – 07:00 PM

Authored by Matthew Piepenburg via VonGreyerz/gold,

If you want to understand the direction of debt, rates, the USD, inflation, risk asset markets, gold and the US endgame, it might be better not to listen to the experts.

In fact, Johny Cash is a far better source…

Five Feet High & Rising

In a classic 1959 tune by Johny Cash, the singer asks: “How high’s the water mama?”

This question is then answered by a riff which chants, “she said it’s two feet high and risin.’”

And with each subsequent refrain, the water level goes to three feet, four feet and then five feet, “high and risin’.”

In short: An obvious flood.

And when it comes to debt in the land of the world reserve currency, Johny Cash may have something to teach Jerome Powell and the other DC children drowning the US (and its debt-soaked Dollar) into a slow but steady debt flood.

Boring?

I’ve often said that good journalism, like honest economics, is boring.

One has to understand “hard” indicators like bond yields (which move inversely to bond price) and the high-school level basics of supply and demand forces.

But as I’ve also said countless times, and will say countless times more: The bond market is THE thing, because bonds are all about DEBT.

If you understand bonds, and in particular, the Fed’s hidden (real) mandate to save Uncle Sam’s sovereign IOU’s from sinking in price, then you will be able to easily foresee (rather than date predict) the future of risk assets, gold, BTC, the USD and yes, inflation.

The complex truly is that simple.

How High’s the Debt Mama? 120% and Risin’

And if you turn to Johny Cash and ask “How high’s the debt level mama?” well… the blunt answer informs just about everything you need to know.

So, let’s keep it simple.

Simple, Not Boring

Debt is WHERE it all begins, and it tells you exactly HOW the American song ends.

And just how high is the water (debt) mama?

Ten years ago, US public debt was $17T “and risin’.”

Today it’s $34.5T “and risin’.”

America’s debt to GDP is 120%, its deficit to GDP is around 6%, and every 100 days we add another $1T in borrowing to our shameless bar tab of debt addiction masquerading as capitalism.

Even our own Congressional Budget Office will confess that unless we issue more debt (and print more debased money to monetize it), our Medicare and social security piggy bank will be empty by 2030.

Meanwhile, the USA is staring down the barrel of $212T in unfunded liabilities yet only $190T in assets.

In other words, and based on objective math, America literally has the balance sheet of a banana republic.

No Crisis?

Apologists (i.e., truth and math-challenged politicos), however, will tell you there is no crisis, even as the water levels rise past our closed eyes.

The clever ones will remind us that America’s USD comprises 85% of FX transactions, the vast bulk (80%) of international trade settlements, and is in constant “milk-shake” demand from the Eurodollar, derivative and SWIFT payment systems.

In other words, the Dollar is gonna be just fine.

Hmmm…

Facts vs. “Just Fine”

As warned from day-1 of the myopic (and suicidal) sanctions against Putin in which the US weaponized the world reserve currency, those days of a “just fine” USD simply ended.

Not all at once, but slow and steady, like a flood’s water line…

In just 2 years, we’ve seen undeniable signs of de-dollarization from the BRICS+ nations and an extraordinarily telling shift in the petrodollar dynamics (20% of 2023 global oil sold outside the USD), which would have been otherwise unimaginable in the pre-sanction era.

But, if you remain convinced that America and its reserve currency have magical immunity from the de-dollarization’s slow drip greenback demise, let’s get back to the oh-so boring but oh-so honest cries of the US Treasury market.

Why?

Again. Because the bond market is everything.

As important, the bond market has everything to do with debt, and current US debt is drowning the nation and diluting the USD, one slow trillion at a time.

Sound sensational?

Pounding A Fact-Based Fist

For years, I have pounded my fist reminding readers and viewers that debt destroys nations and currencies. Every time, and without exception.

And for years I have pounded my fist saying the Powell’s “war on inflation” was a ruse, as every debt-soaked nation needs to debase its currency to inflate away debt.

And from day-1 of Powell’s claim (lie) that inflation was “transitory,” I’ve been calling his bluff. 

For years, I’ve argued that the Fed would simply lie about inflation (i.e., grossly under-report it) in order to make it appear statistically lower than what we actually knew/felt it to be.

Even Larry Summers, who is the classic arsonist (from his repeal of Glass-Steagall to deregulating the derivatives markets) now playing at fireman, has publicly stated that the actual US CPI scale, using pre-1983 housing methods, peaked last year at 18%, not the official 3.7% range…

If we then tack on a US debt/GDP ratio that is 30% higher today than in 2009, we mathematically see that despite Powell’s repressive “higher-for-longer” rate polices, we’ve made zero dent in our debt—instead, we’ve increased it.

In other words, our war against inflation is a loss; and our debts have increased.

And in the last couple of years, I’ve been pounding my fist that Powell would pivot from rising rates, to pausing rate cuts to eventually cutting rates followed in turn by outright money printing (or rather mouse-clicking Dollars) to “pay” Uncle Sam’s debt at the expense of our currency via what Luke Gromen calls “super QE.”

And all modesty aside, I think I/we have been right…

Right or Wrong?

Already, and as of last week, Powell has openly projected rate cuts in 2024, and they are likely to come by or near September.

We’ll see.

For now, just the promise (words) of rate cuts have been enough to send Pavlovian (Fed-dependent) markets to all-time-highs despite a real economy already under water.

And the subsequent decline in the Market Option Volatility Estimate (“MOVE” Index) was a neon-flashing sign that the market is getting ready for a new flood of dollar-diluting liquidity…

Where’s the QE, Matt?

But what about my forewarned QE?

What about that ultimate moment when Powell admits full defeat in his so-called “war” on inflation (while quietly seeking inflation) and openly does what many off us (nod again to Luke Gromen et al) already know he will do, that is: Debase the currency to “save” a rigged-to-fail (i.e., debt-based) USA?

Clearly, it seems, I/we have been wrong about that QE, no?

Well…Not so fast.

Coming Through the Back Door

In fact, Powell, along with his former Fed colleague-turned-mind-numbing Treasury Secretary, Janet Yellen, have been doing un-noticed back-door QE at staggering levels too complex (or obvious) for the mental midgets in our so-called main stream media to even notice.

Shocker? Hardly…

Facts Are Stubborn Things

The fact is that five times in the last four years, DC has been doing QE by just another name (what I call “backdoor QE”) to avoid the embarrassment of direct QE.

Notwithstanding the “not-QE” (which really was QE) in 2019 when the Fed bailed out a cash-dry repo market (which, by design, no one understood), the DC magicians have been doing trillions worth of QE-like liquidity measures without having to call it, well QE…

That is, the Fed and Treasury Dept. have been pulling liquidity out of the drying Treasury General Account, the now retired “BTFP” measures, and the intentionally confusing reverse repo markets.

More recently (and equally as well intentionally confusing to the masses), the Fed is quietly on the verge of allowing the Fed banks to use unlimited leverage to buy unlimited amounts of USTs off the Fed’s balance sheet via the removal of what the fancy lads call “Supplementary Reserve Ratios.”

This latest trick, by the way, is just off-balance sheet QE, and yet another symptom of the big banks becoming branch offices of the Fed, as our already centralized America becomes even more grotesquely, well…centralized, which is a classic symptom of a desperate and debt-soaked regime.

But just in case none of the foregoing tricks of backdoor QE have convinced you of what basically amounts to just QE, we can get our clearest signals from—you guessed it: THE BOND MARKET.

That is, one of the most obvious examples of “backdoor QE” is the Treasury Department’s open yet ignored trick of issuing most of its recent debt from the short duration end of the yield curve.

What The T-Bills Are Saying

By issuing more short-term IOUs in the form of T-Bills, this takes the supply-push inflation pressure off the openly unloved 10Y USTs, whose price declines (and subsequent as well as fatally unpayable yield/rate spikes) not only crushed regional banks, but Uncle Sam’s wallet as well.

OK. Yield curves and duration implications may sound, well… boring, but stick with me because this really, really matters.

The extreme levels of T-Bill issuance (as opposed to 10Y IOUs) has immense implications and is a flashing neon sign that the US is not heading into an economic crisis, but is in fact, ALREADY in a crisis.

Today, T-Bill issuance is at a two-decade high, and comprises greater than 85% of all US Treasury issuance.

This short-end issuance is far more like QE, i.e. simple money printing—which, we remind you, is highly inflationary/reflationary.

Hard to believe? See for yourself:

The last time we saw such QE-like desperation from the T-Bill side of the yield curve was during the Great Financial Crisis and the COVID crisis.

No Crisis? Huh?

But according to our so-called “leaders,” we are not at all in a crisis today. As they keep reminding us, we are at “full employment” (eh-hmmm) and nominal GDP is growing at 6%.

Then again, nominal GDP “growing” on the back of over $23T in UST issuance (bonds, notes and bills) is simply debt-driven “growth,” and debt-driven growth is not growth, it’s just debt.

In short, and as Luke Gromen concluded far better than I: “You know the debt crisis is real when the US resorts to short-term debt issuance.”

Summing Up

Whenever one is dealing with truth-challenged profiles like the Fed, Treasury Dept or White House, it is far better/simpler to watch what they do rather than what they say, as the difference is approximately 180 degrees…

All of the evidence above (from debt levels, de-dollarization trends, petrodollar shifts, backdoor QE measures and T-Bill over-issuance) screams of an open and obvious debt crisis which ALWAYS indicates a consequent currency crisis.

Always.

And as I have said for years, including a public discussion with Brent Johnson, the US can’t afford a strong USD because its debt levels require a weaker, inflated USD, regardless of its “relative”/DXY “strength.”

The string cite of evidence above (and beyond just rate cuts) is simply a cleverly veiled way of the Fed and Treasury telling us they want (need) a much weaker USD to save their necks at the expense of the dollar in your portfolio, checking account or wallet.

Gold, of course, is sniffing this out.

So are the stock markets and BTC.

So are the global central banks, who are stacking gold and dumping USTs at record levels.

The COMEX and London exchanges are also sniffing this out, as physical gold and silver is going from churn motions to actual physical delivery at record levels.

Meanwhile, even the BIS has made gold a Tier-1 asset.

Just saying…

The empirical (rather than “sensational”) evidence of an unloved UST and distrusted (debased and weaponized) USD is there for all who have eyes to see and ears to hear.

Gold has hit all-time-highs (and will go much, much higher) simply because the USD is going much, much lower.

But, of course, no one in DC will say the quiet part out loud.

3. CHRIS POWELL//GATA

4. OTHER MAJOR GOLD COMMENTARIES/PODCASTS/

5 a. IMPORTANT COMMENTARIES ON COMMODITIES/

5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

END

1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS TUESDAY MORNING.7:30 AM

ONSHORE YUAN:   CLOSED DOWN 7.2359

OFFSHORE YUAN: DOWN TO 7.2627

SHANGHAI CLOSED DOWN 2.42 PPTS OR 0.08% 

HANG SENG CLOSED U 390.10 OR 2.36%

2. Nikkei closed UP 35.82 OR 0.09%

3. Europe stocks   SO FAR:  MOSTLY ALL MIXED

USA dollar INDEX UP  TO  104.69 EURO RISES TO 1.0745 UP 8 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.742 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 151.68/JAPANESE YEN NOW FALLING AS WELL AS LONG TERM 10  YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK

3c Nikkei now  ABOVE 17,000

3d USA/Yen rate now well ABOVE the important 120 barrier this morning

3e Gold UP /JAPANESE Yen DOWN  CHINESE ONSHORE YUAN: DOWN/  OFFSHORE: DOWN

3f Japan is to buy INFINITE  TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA

Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.

3g Oil UP for WTI and UP  FOR Brent this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.4020***/Italian 10 Yr bond yield UP to 3.732* /SPAIN 10 YR BOND YIELD UP TO 3.247…**

3i Greek 10 year bond yield UP TO 3.349

3j Gold at $2257.05 silver at: 25.44  1 am est) SILVER NEXT RESISTANCE LEVEL AT $26.40

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 33 /100        roubles/dollar; ROUBLE AT 92.48//

3m oil into the 85 dollar handle for WTI and  87  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 151.68//  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.742% 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 0.9084 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9761 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: 4.367 UP 4 BASIS PTS…

USA 30 YR BOND YIELD: 4.494 UP 3 BASIS PTS/

USA 2 YR BOND YIELD:  4.720 UP 0 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 32.25…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: UP 22  BASIS PTS AT 4.101

end

2.a  Overnight:  Newsquawk and Zero hedge,

Futures Slide As Yields Jump And Oil Surges

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

Equities mixed, DXY around 105 and Crude bid following US/Chinese PMIs & geopols; US JOLTS & Fed speak due – Newsquawk US Market Open

TUESDAY, APR 02, 2024 – 05:57 AM

• Equities are mixed, with clear outperformance in the Energy/Basic Resources names amid broader strength in the underlying commodity prices
• Dollar is flat and holds around 105, AUD outperforms given the rally in metals prices
• Bonds are mixed, USTs are flat and hold near post-ISM lows, whilst Bunds play catch up; a modest dovish reaction was seen following German state CPIs
• Commodities are entirely in the green, Crude benefits from heightened geopolitical tensions and constructive US/Chinese PMIs
• Looking ahead, German national CPI, US Durable Goods, JOLTS Job Openings, Comments from Fed’s Bowman, Williams, Mester & Daly.

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

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 bourses, Stoxx600 (+0.1%) began the session on a firm footing and rose further at the open before the upside eventually petered out. A modest dovish reaction was seen following the German State CPIs, though this faded as indices succumbed to broader but equally as modest pressure.
• European sectors hold a slight negative tilt; Basic Resources and Energy are the clear outperformers, propped up by broader strength in underlying commodity prices. Real Estate lags, hampered by the higher yield environment.
• US Equity Futures (ES -0.1%, NQ -0.1%, RTY U/C) are slightly lower continuing the losses seen in the prior session (sparked by the hot US ISM Manufacturing data). Crypto-exposed stocks are lower in the pre-market after an over 5% drop in Bitcoin.
• Click here and here for the sessions European pre-market equity newsflow, including earnings.
• Click here for more details.

FX

• DXY is holding around 105 following yesterday’s hot ISM manufacturing print. DXY has been as high as 105.10 with not much in the way of resistance until the 14th November high at 105.73.
• EUR is softer vs. the USD after taking a beating yesterday. Today, weakness has been assisted by soft ECB inflation survey and regional German CPI. EUR/USD has been as low as 1.0725 with the 15th Feb low at 1.0723.
• JPY is steady vs. the USD after advancing to a 151.80 peak overnight but fell short of testing the YTD high at 151.97. It remains the case that a more dovish Fed story is required to reverse the fortunes of the pair.
• Antipodeans are both firmer vs. the USD but AUD more so alongside the rally in metals prices. AUD/USD back on a 0.65 handle but still below yesterday’s peak at 0.6538.
• PBoC set USD/CNY mid-point at 7.0957 vs exp. 7.2433 (prev. 7.0938).
• Click here for more details.
• Click here for Major FX Expiry details.

FIXED INCOME

• USTs are near yesterday’s US ISM Manufacturing induced lows at 110-00; a slight uptick was seen after the EZ PMIs/German state CPIs, though focus will remain on a busy data docket and a number of Fed speakers.
• Bunds are bearish, as the region reacted to Monday’s US ISM data, taking Bunds to a low of 132.47; following the EZ SCE/German regional CPIs, Bunds edged higher, towards a peak of 132.95, though has since pared much of the upside.
• Gilt price action is in-fitting with Bunds, though with much of the initial upside on the EZ-data unwound following the upward revision to UK Manufacturing PMI which brought the measure back into expansionary territory. Gilts have been as low as 98.85, and should the downside continue, 98.68 (6th March) could be in play.
• Germany sells EUR 3.71bln vs exp. EUR 4.5bln 2.50% 2026 Schatz: b/c 2.3x (prev. 2.64x), average yield 2.84% (prev. 2.80%), retention 17.56% (prev. 18.96%)
• Click here for more details.

COMMODITIES

• A positive session for the crude complex as tailwinds from the revision higher in Chinese and EZ Manufacturing PMIs, strong US ISM Manufacturing PMI, and escalating geopolitics counter the headwinds from the pushback in US rate cut pricing; Brent currently around USD 88.80/bbl.
• Precious metals are firmer across the board despite the stronger Dollar but amidst a slew of geopolitical update; XAU hit a fresh record high at USD 2.265.49/oz yesterday with the yellow metal in a USD 2,247-2,262.69/oz range thus far.
• Base metals are also higher across the board despite the price action in the Dollar this morning, with the complex likely moving to the slew of constructive Manufacturing PMIs from China, the US, and across the EZ.
• Venezuela oil exports reportedly hit a 4-year peak as US sanctions deadline looms, according to Reuters citing shipping data and documents.
• Barclays says “we are now entering a period for the LNG market where we see it as demand-constrained”; says a demand-constrained LNG market is also set to constrain prices.
• Click here for more details.

NOTABLE EUROPEAN HEADLINES

• ECB Consumer Inflation Expectations survey (Feb) – 12-months ahead 3.1% (prev. 3.3%); 3-year ahead 2.5% (prev. 2.5%); Economic growth expectations for the next 12 months remained unchanged at -1.1%.

EZ DATA RECAP

• German North Rhine-Westphalia State CPI YY (Mar) 2.3% (Prev. 2.6%); core Y/Y 3.2% vs. prev. 3.4%, M/M 0.5%; German regional inflation numbers came in cooler than the prior and within proximity to expectations for the mainland release at 13:00BST. Overall, the reaction was a modestly dovish one.
• German HCOB Manufacturing PMI (Mar) 41.9 vs. Exp. 41.6 (Prev. 41.6)
• Spanish HCOB Manufacturing PMI (Mar) 51.4 vs. Exp. 51.0 (Prev. 51.5)
• French HCOB Manufacturing PMI (Mar) 46.2 vs. Exp. 45.8 (Prev. 45.8)
• Italian HCOB Manufacturing PMI (Mar) 50.4 vs. Exp. 48.8 (Prev. 48.7)
• EU HCOB Manufacturing Final PMI (Mar) 46.1 vs. Exp. 45.7 (Prev. 45.7)

OTHER DATA POINTS

• UK S&P Global Manufacturing PMI (Mar) 50.3 vs. Exp. 49.9 (Prev. 49.9)
• UK Mortgage Approvals (Feb) 60.383k vs. Exp. 56.5k (Prev. 55.227k, Rev. 56.087k); BOE Consumer Credit (Feb) 1.378B GB vs. Exp. 1.6B GB (Prev. 1.877B GB, Rev. 1.77B GB); M4 Money Supply (Feb) 0.5% (Prev. -0.1%); Mortgage Lending (Feb) 1.51B GB vs. Exp. -0.15B GB (Prev. -1.086B GB, Rev. -1.073B GB)
• UK BRC Shop Price Inflation (Mar) Y/Y 1.3% vs. Exp. 2.2% (prev. 2.5%); lowest level in more than two years.
• UK Nationwide house price MM (Mar) -0.2% vs. Exp. 0.3% (Prev. 0.7%); Nationwide house price YY (Mar) 1.6% vs. Exp. 2.4% (Prev. 1.2%)
• Swiss Manufacturing PMI (Mar) 45.2 vs. Exp. 44.9 (Prev. 44.0)
• Swiss Retail Sales YY (Feb) -0.2% (Prev. 0.3%)

NOTABLE US HEADLINES

• Alphabet (GOOG) Google will destroy billions of data records to settle a lawsuit claiming it secretly tracked the internet use of people who thought they were browsing privately, Reuters reports. The accord is valued at more than USD 5bln, and as high as USD 7.8bln, the report noted, but Google is paying no damages; users may sue the company individually for damages.
• PVH Corp (PVH): Q4 adj. EPS 3.72 (exp. 3.53), Q4 revenue USD 2.49bln (exp. 2.42bln). Board authorised a USD 2bln increase to its stock repurchase programme. Sees Q1 EPS approximately USD 2.15 (exp. 2.61), and sees Q1 revenue declining approximately 11% Y/Y (exp. -3.7%). For the FY, sees EPS between 10.75-11.00 (exp. 12.01), and sees FY revenue declining between 6-7% (exp. -0.9%). Shares -22.5% pre-market.
• Tesla (TSLA) sold 89.06k China-made vehicles in March (vs 60.36k in February 2024; vs 88.8k in March 2023)

GEOPOLITICS

MIDDLE EAST

• US told Iran it had no involvement or advanced knowledge of the Israeli strike on a diplomatic compound in Syria, according to Axios citing a US official.
• Israeli shelling on a car of the World Central Kitchen organization in Gaza caused the death of 4 foreigners, according to Al Jazeera.
• White House said US and Israeli teams had a constructive engagement on Rafah on Monday and agreed that they share the objective to see Hamas defeated in Rafah. US expressed its concerns with various courses of action in Rafah, while the Israeli side agreed to take the concerns into account and to have follow-up discussions between experts on Rafah with follow-up discussions to include an in-person strategic consultative group meeting as early as next week, according to Reuters.
• US President Biden’s administration is reportedly considering the approval of a USD 18bln sale of aircraft and other munitions to Israel including F-15 jets.
• “Israeli media quoting official: The atmosphere of the truce talks in Cairo is positive and will continue”, according to Al Arabiya

OTHER

• North Korea fired a suspected ballistic missile which was reported to have fallen shortly after and appeared to have landed outside of Japan’s exclusive economic zone.
• Japanese PM Kishida said Japan launched a protest against North Korea’s missile launch and that North Korean missile launch affects not only peace and stability in the region but also the international community, while it was separately reported that the US military condemned North Korea’s missile launch.
• South Korean President Yoon said North Korea will try to sow confusion in South Korea ahead of the election, while it was also reported that South Korea imposed sanctions on two Russian organisations and two Russian individuals linked to North Korea’s missile program.
• Attempted drone attack on an oil refinery within Russia’s Nizhnekamsk, via Tass; attack was thwarted, no damage occurred.
• Ukrainian intelligence source says attacks on Russian refineries will continue in order to reduce Russia’s oil revenue, according to Reuters

CRYPTO

• Bitcoin continues the weakness from overnight, with the coin now as low as USD 65.8k on the session.

APAC TRADE

• APAC stocks were mixed with price action mostly rangebound after the weak performance on Wall St where hot ISM Manufacturing PMI data saw markets trim Fed rate cut bets.
• ASX 200 initially printed a fresh record high but then pared its gains as strength in the commodity-related industries was offset by losses in the consumer-related sectors, while RBA Minutes did little to spur price action.
• Nikkei 225 was choppy and failed to sustain a brief foray back above the 40,000 status.
• Hang Seng and Shanghai Comp. were mixed in which the Hong Kong benchmark outperformed as it played catch up on return from the Easter holiday closures, while the mainland was indecisive after a tepid PBoC liquidity operation.

NOTABLE ASIA-PAC HEADLINES

• Japanese Finance Minister Suzuki reiterated it is important for currencies to move in a stable manner reflecting fundamentals and rapid FX moves are undesirable, while he won’t rule out any steps to respond to disorderly FX moves and is closely watching FX moves with a high sense of urgency but made no comment on FX intervention.
• RBA Minutes from the March 18th-19th meeting stated members agreed it is appropriate to leave rates unchanged and there was no mention in the minutes that the board considered the option to raise rates, while the Board agreed it is difficult to either rule in or out future changes in cash rate. RBA Minutes stated the economic outlook is uncertain but risks seemed broadly balanced and it would take “some time” before the board could be confident inflation is returning to the target, as well as noted that upside risks to inflation had not yet materialised and consumption was very weak.
• RBA Assistant Governor Kent said the RBA intends to change the way it provides liquidity to the banking system in which it is to adopt an ample reserves system for monetary policy and will use open market repo operations at a price near the Cash Rate target, while it will commence a public consultation and liaison with participants shortly. RBA’s Kent also stated that the outlook for inflation and policy is uncertain.

DATA RECAP

• Chinese Manufacturing PMI (Mar) 50.8 vs Exp. 49.9 (Prev. 49.1); Non-Manufacturing PMI (Mar) 53.0 vs Exp. 51.3 (Prev. 51.4); Composite PMI (Mar) 52.7 (Prev. 50.7); Caixin Manufacturing PMI Final (Mar) 51.1 vs. Exp. 51.0 (Prev. 50.9)

3C ASIA AFFAIRS/

MONDAY MORNING/SUNDAY  NIGHT

SHANGHAI CLOSED DOWN 2.42 PTS OR 0.08%  //Hang Seng CLOSED UP 390.10 OR 2.36%

/ Nikkei CLOSED UP 35.82 PTS OR 0.09% //Australia’s all ordinaries CLOSED DOWN .10%

 /Chinese yuan (ONSHORE) closed DOWN 7.2359 //OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2627 /Oil UP TO 85.22 dollars per barrel for WTI and BRENT DOWN AT 88.80/ Stocks in Europe OPENED MOSTLY ALL MIXED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER

2 d./NORTH KOREA/ SOUTH KOREA/

NORTH KOREA/SOUTH KOREA

END

2e) JAPAN

JAPAN

3 CHINA

CHINA/

END

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

END

5. RUSSIA AND MIDDLE EASTERN AFFAIRS.

ISRAEL HAMAS/RUSSIA//

Russia outraged on the strike in Syria as death toll rises to 11

(Jerusalem Post)

Russia Voices Outrage As Death Toll Rises To 11 After Israeli Attack On Iran’s Damascus Embassy

MONDAY, APR 01, 2024 – 06:38 PM

Update(1838ET): Monitors cited in AFP report the death toll from Monday’s Israeli air strike on the Iranian embassy complex in Damascus has risen to 11. “The death toll from the Israeli strikes on the Iranian embassy annex has risen to 11: eight Iranians, two Syrians and one Lebanese — all of them fighters, none of them civilians,” AFP quoted the war monitor as saying.

Regional and international reaction came hours later, with Lebanese Hezbollah — a close ally of Iran — vowing that Israel will be “punished” for the attack. As we detailed earlier (below), several top IRGC commanders were killed in the strike at a moment a high-level military meeting was taking place.

Russia’s Foreign Ministry reacted as follows: “We strongly condemn this attack on the Iranian consular office in Syria. We consider any attacks on diplomatic and consular facilities, the inviolability of which is guaranteed by the relevant Vienna Conventions, to be categorically unacceptable.”

However, Russia has by and large taken a back seat when it comes to responding to Israeli attacks on Syria. Israeli aircraft typically fire on Syria from over nearby Lebanese airspace, but Syrians have increasingly wondered why Moscow doesn’t use its significant anti-air systems parked in the region to defend against such attacks on its ally the Assad government. But Russia and Israel apparently reached a status quo deal years ago, which allow for the Israeli raids as long as they are ostensibly targeting ‘Iranian assets’. 

Among the slain in Monday’s attack was Mohammad Reza Zahedi, a top commander in the Islamic Revolutionary Guards Corps (IRGC), who reportedly oversaw Quds Forces operations in Syria and Lebanon. Clearly Israeli’s intelligence capabilities are significant regarding Iranian movements and operations inside Syria, given Israel clearly knew the where and when of the top level meeting.

A strike like this — against an embassy which is supposed to be ‘protected’ by international diplomatic norms upheld by the Vienna Convention on Diplomatic Relations — is somewhat unprecedented and so marks a massive escalation by Israel. 

David Asher, a Senior Fellow at the Hudson Institute and former senior State Department official under the Trump administration had this to say in terms of what’s likely to come next:

“This is a huge strike against Iran’s Qods Force. Expect to see Iranian missile retaliation directly against Israel. Things are moving beyond proxy war into direct conflict. Crude prices should make a decisive move higher on macro risk,” he told ZeroHedge.

Others are currently speculating that Israel may be trying to provoke a war with Iran to get the US directly involved on its side. The Hezbollah situation along Israel’s northern border continues to be at crisis levels, given that an estimated 80,000 Israeli citizens remain evacuated from their homes. 

Recent months have seen Israeli officials float a bold plan for a US-enforced ‘buffer zone’ which would remove Hezbollah from near the Israeli border. While the plan calls for an international peacekeeping force, those troops would essentially become an occupying force in the eyes of Hezbollah and the Iranians. But Israel likely perceives that it needs full Washington support and military backing if it were to pursue a final ‘end all’ battle with Hezbollah, which would certainly collapse all of Lebanon into chaos and crisis. Without doubt, the Netanyahu coalition government wants to see regime change in Tehran as well.

* * *

Update(1450ET): Tehran is vowing a “harsh” response to the Israeli attack on its embassy and consulate earlier in the day, which killed at least five to eight people, reportedly including IRGC leaders. Iran’s foreign minister slammed it as “a violation of all international obligations and conventions” while the Syrian government denounced it as a “terrorist attack”. 

Iran’s Ambassador to Syria Hossein Akbari was not injured in the attack, which appeared to have occurred at the moment a high level meeting was taking place. Iranian state media has since confirmed the death of Brigadier General Mohammad Reza Zahedi, a senior commander in the elite Quds Force of the IRGC. There are further indicators that two more top IRGC commanders may be among the slain…

@Charles_Lister

#Israel‘s strike in #Damascus today is a huge development & a major escalation. 3 #IRGC-QF Generals: – Brig. Gen. Mohammed Zahedi (Commander, #Syria & #Lebanon) – Gen. Hossein Aminullah (Chief of General Staff, #Syria & #Lebanon) – Maj. Gen. Haj Rahimi (Commander, Palestine)

1:21 PM · Apr 1, 2024

·

356.5K Views

“Tasnim reported that Zahedi’s deputy was also killed in the strike,” regional media further confirms.

Depending on Iran’s response, this could be the start of an all-out regional war. For months now, Iranian-made ballistic missiles and drones have rained down on Israel, fired by Iran’s proxies in Lebanon and Yemen. This new brazen Israeli attack on Iran’s embassy takes things into uncharted territory, and also opens up the potential for the Iranians to target Israeli embassies abroad.

The annex or consular building next to the embassy in Mezzeh district was flattened in the strike…

* * *

There are emerging reports and accompanying video confirmation that an Israeli airstrike destroyed part of the complex of the Iranian embassy in the Syrian capital on Monday.

Syrian state media is also reporting that Israel conducted a rare daytime strike in the vicinity of the Iranian embassy in Damascus. Video shows that the entire front of the embassy complex and drive along with a side annex building have been destroyed. 

https://www.zerohedge.com/geopolitical/iranian-embassy-syria-targeted-large-israeli-airstrikes-major-escalation

However, the embassy building itself is standing and appears to have not been directly struck in the attack. Regional reports say an annex of the main embassy was taken out.

This may have been a targeted strike on a top Iranian security official, given Reuters is now reporting that the strikes killed the leader of the Islamic Revolutionary Guard Corps (IRGC) in Syria, Mohammad Reza Zahedi…

• ISRAELI AIRSTRIKE ON DAMASCUS KILLS LEADER OF IRANIAN REVOLUTIONARY GUARD CORPS MOHAMMAD REZA ZAHEDI, SECURITY SOURCE TO REUTERS
• IRAN’S ARABIC LANGUAGE AL ALAM TV SAYS IRANIAN CONSULATE BUILDING IN SYRIA HAS BEEN COMPLETELY DESTROYED

Below is local footage showing a row of vehicles on fire in the attack aftermath:

https://www.zerohedge.com/geopolitical/iranian-embassy-syria-targeted-large-israeli-airstrikes-major-escalation

Amid unverified early reports, a regional monitor has said the death toll is at eight killed in the strikes on the Iran embassy annex in Damascus.

According to Israeli media, the attack occurred during a meeting of top-level officials:

Initial reports citing Iranian media say senior IRGC official Mohammad Reza Zahedi was killed in the alleged Israeli strike. 

The strike occurred during a meeting involving senior regional figures, adding a layer of complexity to the incident. New images released by Syrian media outlets depict the aftermath of the airstrike, revealing significant damage to the targeted building and its surroundings.

Reuters cites Iran’s SSN news website, which alleges that the Israeli airstrike specifically targeted Iran’s consulate and ambassador’s residence in Damascus.

Earlier on Monday, the Israel Defense Forces (IDF) confirmed damage to Eilat navy base on the Red Sea, in what appeared to be an unprecedented targeted drone launch by Iran-backed Iraqi militia.

Oil prices are already reacting to this increased geopolitical tension…

This was a very high risk strike also given the Iranian embassy is right next door to the Canadian embassy. 

Ali Hashem علي هاشم

@alihashem_tv

The building that was hit is literally in the middle between the embassy of Iran and the Canadian embassy. For Israel to go for such a strike there’s possibly a senior target.

10:53 AM · Apr 1, 2024

·

236.1K Views

The Mezzeh area of Damascus is also lined with restaurants, malls, and bars — and also is home to an important military airport and some key government facilities.

There’s a lot of daily foot traffic at the Iranian embassy too, given that Damascus has long been a Shia pilgrimage spot and sees a constant influx of Iranian visitors.

An Al Jazeera correspondent, Zeina Khodr, has highlighted international law and norms regarding banning aggression against countries’ sovereign diplomatic sites in the following…

“Killing of top Iran Quds Force commander in Damascus is a major blow … but Iranian media says bldg destroyed was part of Iranian consulate – Israel hit a diplomatic mission which should enjoy immunity – Israel has crossed red lines – how will Iran react?“

This now opens up the possibility that Tehran could strike back at Israel’s embassies and consulates abroad, in yet more worrying and unpredictable escalation.

Moon of Alabama writes, “Israeli officials in embassies around the world will now be forced to limit their movements in the general public as they are the most likely targets of revenge strikes.”

developing…

END

RUSSIA/MUSLIM MIGRANTS

this is how Russia deals with Muslim migrants; they deport them:

(zerohedge)

In Russia Mass Deportations Of Muslim Migrants Surge After Moscow Terror Attack

MONDAY, APR 01, 2024 – 10:00 PM

There have been widespread reports of mass deportations of Muslim migrants from Russia in the wake of the March 22 terror attack on the Crocus City Hall venue in a Moscow suburb which killed at least 140 people and left hundreds more wounded and injured.

This trend is said to be the result of a significant uptick in raids by authorities on apartments and dorm complexes known to house Central Asian migrants, amid concerns that Islamic radicals could carry out more attacks.

President Vladimir Putin has put blame on Islamic extremists for the major attack which involved four gunmen planting explosives and randomly shooting into crowds; however, he and Kremlin officials also believe the men had assistance from Ukraine or possibly US or other foreign intelligence.

The alleged gunmen, who reportedly tried to escape across the Ukrainian border, are all Tajik nationals. A number of other foreigners have also been arrested in the days after the attack. Washington has said ISIS-K was behind it, while condemning Moscow’s allegations that the US or Ukraine could have had something to do with it.

The regional pro-opposition outlet Meduza has said that in the last week of March, St. Petersburg courts “received 584 cases of administrative offenses in connection with non-compliance with migration legislation.”

The report indicated that at least 418 foreigners were then ordered to go to special holding facilities to await expulsion from the country. “Another 48 people must pay a fine and leave the Russian Federation on their own,” Meduza wrote.

@DaveAtherton20

In Russia, after the Crocus City Hall mass murder of 143 people by Tajik Muslims, the mass deportations have begun. The airport is jammed packed.

6:37 AM · Apr 1, 2024

·

28.5K Views

An organization of human right lawyers who work in Russia, Perviy Otdel, observed in a statement Friday that in the St. Petersburg region, “Temporary detention centers for foreign citizens are packed, surrounded by special vehicles and buses heading to the airport.”

The Amsterdam-based Moscow Times linked the surge in deportations to the Crocus City Hall terror attack:

The countries where the migrants were being sent to were not specified, though it is known that labor migrants in Russia mostly hail from poor Central Asian countries.

Bailiffs reportedly refer to St. Petersburg’s mass deportations as “Operation Anti-Migrant,” with raids targeting local hostels and apartments. Similar raids were reported in Moscow and other Russian cities.

Anti-immigrant sentiment surged after four gunmen — who were later identified as Tajik nationals — stormed Crocus City Hall last Friday, killing 144 people and injuring 382 in the shooting and massive fire at the popular concert venue.

The backlash against Russia’s sizeable Tajik immigrant community is expected to grow. Recent years have seen over one million unemployed Tajiks enter Russia in search of work.

Russia: Yesterday Vladimir Osechkin relayed info from FSB sources that an order for indiscriminate mass raids and repressions against Muslims came down in ‘response’ to the Crocus City Hall massacre. Today, the FSB made mass arrests at the Wildberries warehouse in Electrostal.

12:00 PM · Mar 27, 2024

·

827.5K Views

A separate Moscow Times report has found that “Between 2012 and 2018, over 2,000 Tajik citizens joined terrorist groups in Syria and Iraq, making Tajikistan the third highest sender of foreign fighters to the war on a per capita basis.”

The report continues: “Most joined Islamic State, with some taking up key positions, including the group’s War Minister Gulmurod Halimov, who used to serve as head of Tajikistan’s OMON paramilitary police force.” This means Russia’s monitoring of and crackdown on this migrant community is likely only to grow from this point.

END

END

LEBANON/ISRAEL

Top Hezbollah operative killed in a south Lebanon strike

(Jerusalem Post)

IDF: Top Hezbollah operative killed in south Lebanon strike; soldier hurt by rocket

Ismail al-Zin said to be senior commander in elite Radwan force’s anti-tank unit; overnight, fighter jet shoots down apparent drone heading toward Israel from Syria

By EMANUEL FABIAN FOLLOW31 March 2024, 7:56 pm

The site of an IDF drone strike in southern Lebanon’s Kounine, March 31, 2024. (Video screenshot; used in accordance with Clause 27a of the Copyright Law)

The Israel Defense Forces said Sunday it had eliminated a top operative in Hezbollah’s elite Radwan force in a drone strike in southern Lebanon, hours after a soldier was wounded in a rocket attack carried out by the terror group.

Ismail Ali al-Zin, according to the IDF, was a senior commander in Radwan’s anti-tank missile unit.

He was targeted in a drone strike while in a car in southern Lebanon’s Kounine.

The IDF described al-Zin as a “significant source of knowledge regarding anti-tank missiles who was responsible for dozens of anti-tank missile attacks against Israeli civilians, communities and security forces.”

Radwan is Hezbollah’s special operations unit, and is believed by Israel to be tasked with potentially infiltrating the country in a future attack.

Earlier in the day, an IDF soldier was lightly wounded in a rocket strike in the Kiryat Shmona area. The soldier was taken to hospital for treatment, the IDF said

.https://static.timesofisrael.com/www/uploads/2024/03/vlcsnap-2024-03-31-19h23m09s834-640×400.jpg

https://customer-b1ezbl4fz7l5vj5n.cloudflarestream.com/a11312de4ec923db31256aa9d2cd9af9/iframe

Hezbollah claimed responsibility for the attack, as well as several others against IDF positions along the border.

In one incident, a drone launched by Hezbollah from Lebanon struck an open area in Mount Dov, the IDF said.

According to the IDF, no damage or injuries were caused in the drone attack.

In response, fighter jets struck Hezbollah sites in Khiam and Rab al-Thalathine, and troops shelled areas near Houla with artillery to “remove threats,” the IDF said.

Later Sunday, the IDF said it struck additional Hezbollah sites in southern Lebanon, including buildings in Mays al-Jabal and Blida where operatives were gathered, rocket launching positions in Markaba, and an observation post in Kafr Kila.

On Saturday night, another Hezbollah building in Jebbayn was struck, the army said.

ttps://static.timesofisrael.com/www/uploads/2024/03/vlcsnap-2024-03-31-19h23m09s834-640×400.jpg

Also overnight, the IDF said a fighter jet intercepted “a suspicious aerial target” — thought to be a drone — that was making its way toward Israel from the direction of Syria.

The target was not detected as having crossed into Israeli territory. Large blasts were reported over southern Syria’s Daraa amid the incident.

The incident came as the Islamic Resistance in Iraq, a coalition of Iran-backed paramilitary groups, claimed to have launched a drone at a “vital target” near the northern Israeli town of Eilabun.

The Iran-backed Iraqi militia has claimed to have launched numerous drones at Israel amid the war in the Gaza Strip, most of which have failed to cross Israel’s border, or were downed by air defenses. In one case, a drone struck an area near the town of Eliad, causing slight damage to structures.

This picture taken from northern Israel shows an Israeli Air Force fighter jet flying over the border area with south Lebanon on March 27, 2024. (Photo by Jalaa MAREY / AFP)

Since October 8, Hezbollah-led forces have attacked Israeli communities and military posts along the border on a near-daily basis, with the group saying it is doing so to support Gaza amid the war there.

So far, the skirmishes on the border have resulted in eight civilian deaths on the Israeli side, as well as the deaths of ten IDF soldiers and reservists. There have also been several attacks from Syria, without any injuries.

Of the 265 members Hezbollah says were killed by Israel during the ongoing skirmishes, most died in Lebanon, but some also in Syria. In Lebanon, another 50 operatives from other terror groups, a Lebanese soldier, and at least 60 civilians, three of whom were journalists, have been killed.

END

SYRIA/IRAN

END

SYRIA/IRAN//ISRAEL

end

IRAN/ISRAEL

Israel knocking off key Iranian generals is playing havoc to their regime

(Jerusalem Post)

Death of IRGC’s Zahedi end of an era for Iran’s commanders – analysis

The death of Zahedi follows a series of losses for Iran and its proxies in the region.

By SETH J. FRANTZMANAPRIL 2, 2024 13:18Updated: APRIL 2, 2024 13:22

The death of Islamic Revolutionary Guard Corps commander Mohammad Reza Zahedi in an airstrike in Damascus represents the end of an era for Iran. The era is encapsulated in a photo that has been circulating on social media which shows Zahedi, former IRGC Quds Force commander Qasem Soleimani, former Hezbollah leader Imad Mughniyeh, Hezbollah leader Hassan Nasrallah and former IRGC commander Ahmed Kazemi. Four of the men are now dead, leaving only Nasrallah.

This is symbolic because it shows how a whole generation of key operatives and allies of Iran have been killed. It is symbolic on a wider level because it shows how Iran may be losing its grip on Syria as its IRGC chain of command there suffers losses. The loss of Zahedi is being watched in the region. For instance, Al-Ain media in the UAE has an article examining the photo and noting that Nasrallah is the “last of them.”

“In the Iranian consulate strike, seven Iranian military advisors and officers were killed, the most prominent of whom was Mohammad Reza Zahedi, who served as Deputy Chief of Operations of the Iranian Revolutionary Guard, in addition to assuming command of its air and ground forces,” the report notes. It also notes the fate of the others in the photo. For instance, Qasem Soleimani was killed in a US drone strike near Baghdad airport in January 2020. Soleimani had arrived for a meeting with Abu Mahdi al-Muhandis, a leader of the Iranian-backed Kataib Hezbollah. Muhandis and Soleimani were driving in a convoy of vehicles when the drone targeted their vehicle and killed them. Kazemi, who is also in the photo, was killed in a plane crash in 2006. Mughniyeh was assassinated in Damascus in 2008.

Al-Ain says that Zahedi is the “fourth prominent leader of the Revolutionary Guards to be assassinated” since December. Iran has blamed Israel for the attack. He was killed in an airstrike on a building next to the Iranian consulate. The building served as the “military headquarters of the Revolutionary Guards,” Al-Ain notes.

The death of Zahedi follows a series of losses for Iran and its proxies in the region. For instance, back in December 2023, IRGC commander Razi Moussavi was also killed in Syria. In January 2024, five more IRGC members were killed in Damascus. Iran vowed revenge at the time. These are not the only losses for Iran. Its key friends and allies have also been killed. Saleh al-Arouri, a key Hamas commander who was residing in Lebanon, was also killed in January. Wissam Tawil, a Hezbollah member was also killed. Ali Abed Akhsan Naim, the deputy commander of Hezbollah’s rocket and missile unit was killed in Lebanon in late March.

Zahedi hard to replace

Iran and its proxies will have a hard time replacing these men. This is because many of these men had decades of experience working in their various capacities. They also were key nodes in Iran’s network that links Iran to militias in Iraq and Syria and then links Iran’s network in Damascus to Hezbollah in Lebanon. Iran has armed Hezbollah over the years with various types of weapons, from missiles to anti-tank missiles, to drones and precision guided munitions. Iran relies heavily on its network of senior commanders who know one another. Iran operates in a sense like a mafia in the region, establishing various miniature versions of the IRGC in countries and creating proxy networks. These rely on key individuals. Without those individuals some of these networks are thrown into chaos. That doesn’t mean the networks don’t continue to possess weapons and create threats. However, it does change their cohesion.

Iran has been seeking to knit together all these groups in various years. Tehran describes this as uniting various “arenas” or fronts against Israel. In all, there are at least seven fronts that Iran wants to operationalize against Israel. This week the unity was on display as an Iraqi militia launched a drone at Eilat, and also as Hezbollah continued its threats against Israel and as Iran sought to destabilize Jordan with protests and also sought clashes in the West Bank with the Palestinian Security Forces. Iran has sought to smuggle weapons to the West Bank in the last years. This illustrates that Iran continues to manage various fronts against Israel even as it takes losses in other places. The loss of Zahedi is important for Tehran and its nexus in the region and his missing presence at meetings and in other affairs will be felt for years.

END

Israel on the lookout for Iranian strikes on their embassies

(Jerusalem Pos)

IRAN/ISRAEL UPDATES//

‘Preparing strikes on Israeli embassies’: The coming Iranian response to Syria strike

“Zahedi was a very senior person who can be said to have given Israel a lot of headaches in the last twenty years for all his exploits in his involvement in terrorism,” Hezi Simantov said.

By 103FMAPRIL 2, 2024 11:19Updated: APRIL 2, 2024 14:42

Hezi Simantov, a commentator and correspondent for Arab affairs of ‘News 13’, spoke Tuesday morning with Nissim Mashal and Anat Davidov on 103FM about the assassination of the senior Iranian Mohammad Reza Zahedi, commander of the Quds Force in Syria and Lebanon, and the expected consequences.

First of all, according to the reports from Syria and Iran, the Israeli Air Force allegedly attacked a building adjacent to the Iranian embassy in Damascus, where several senior Iranian officials were located, among them Mohammad Reza Zahedi, who is actually the deputy commander of the Quds Force of the Revolutionary Guards in Syria and Lebanon,” Simantov began. 

“A very senior member of the Iranian hierarchy, he managed the entire operation of smuggling weapons from Syria to Lebanon. He was a very senior person who can be said to have given Israel a lot of headaches in the last twenty years for all his exploits in his involvement in terrorism. This is the most senior Iranian who has been eliminated so far since October 7 on Syrian soil,” he continued.

“This is a severe and painful blow to the Iranian regime, a matter in which the Iranians are more inclined to take revenge against Israel. We have already eliminated several of their senior officials since October 7 on Syrian soil. This is the period when Iran wants to show that it is leading the axis of resistance. 

Hamas’s utility waning

“[As an Iranian asset] Hamas is currently at a disadvantage because of the fighting in Gaza, and this does not mean that tomorrow morning, the Iranians will try to do something impulsive. They will perhaps try to activate their militias in Syria or the Houthis in Yemen. 

This is something that has already happened and will continue to happen, but they are using, and you see the narrative in the Iranian media, that supposedly there is something diplomatic that has been harmed here,” he added.

“They are laying the groundwork to strike at Israeli diplomatic representations worldwide, in the Arab world, Europe, or the United States or South America,” Simantov said. “The assassination attributed to Israel certainly makes the confrontation between Iran and Israel more direct, rather than indirect, as it has been until now in Syria.” 

“Israel has very good intelligence about what is happening in Syria and Lebanon, unlike what is happening in the Gaza Strip, even before October 7,” he added. “There is still very good intelligence about these trained members of the Revolutionary Guards and senior Hezbollah figures in Lebanon and Syria. In my estimation, Iran is deterred from direct confrontation with the US. It does not want that. Iran does not want to bring the US into a direct military confrontation. 

“Therefore, this situation in which it is increasingly engaging in terrorism activities in Syria, Lebanon, Yemen, and the envelope to pressure Israel – that is something it will continue to do. Direct confrontation with the US or with Israel that would involve the US – that is not what it wants to do, at least not at this stage, that could change,” Simantov concluded.

END

IRAN/ISRAEL/USA

USA assures Iran that it has no involvement in the strike. The hit was not an embassy but a military building next to an embassy.

(zerohedge0

US Assures Iran It “Had No Involvement” In Embassy Strike As IDF Claims Only A ‘Military Building’ Hit

TUESDAY, APR 02, 2024 – 11:40 AM

The Biden administration was notified just minutes before the major Israeli airstrikes on the Iranian Embassy complex in Damascus on Monday, US and Israeli officials have told Axios; however, the Israeli side wasn’t asking for a greenlight, the report emphasizes. 

The US on Tuesday directly communicated to Iran that it “had no involvement” or advanced knowledge of the strike on the embassy annex which killed top Iranian commanders, including Brig. Gen. Mohammad Reza Zahedi, who reportedly oversaw IRGC Quds Force operations in Syria and Lebanon.

Crucially, Zahedi’s death marks the highest ranking Iranian official killed since the 2020 US assassination of Qassem Soleimani by drone strike outside the Baghdad airport. In the aftermath of the attack on the embassy annex the death toll had risen to eleven. Iranian state television has since said that included among these were 6 Syrian citizens killed.

A National Security Council (NSC) spokesperson has been cited by Axios as underscoring that the United States “had no involvement in the [Israeli] strike and we did not know about it ahead of time.”

Iranian state TV described that the attack “was carried out by F-35 fighter jets” which fired six missiles at the building, leaving it flattened. It housed the embassy’s consular section as well as the residence of ambassador Hossein Akbari, who apparently wasn’t there at the time and thus was unharmed.

Iran and Hezbollah have vowed revenge and that this will be “punished” while Russia has also expressed outraged, as we reported earlier. Saudi Arabia’s foreign ministry on Tuesday expressed “the Kingdom’s categorical rejection of targeting diplomatic facilities for any justification, and under any pretext.”

A strike against an embassy which is supposed to be ‘protected’ by international diplomatic norms upheld by the Vienna Convention on Diplomatic Relations is unprecedented and so marks a massive escalation by Israel. 

There are simply no examples in all of recent history of a sovereign nation’s military intentionally targeting the embassy and diplomatic facilities of another sovereign country. The one exceptional historical instance is NATO bombing the Chinese embassy in Belgrade in 1999, which killed 3 Chinese journalists, but which the US said was inadvertent, resulting in then President Clinton issuing a formal apology to the Chinese government.

As for the Israeli explanation, it has not officially owned up to the attack, but a military spokesperson has called the embassy annex which was hit a “military building of Quds forces” – in reference to the IRGC’s foreign wing.

“According to our intelligence, this is no consulate and this is no embassy,” Israel Defense Forces spokesperson Rear Adm. Daniel Hagari has said in a statement. “I repeat, this is no consulate and this is no embassy. This is a military building of Quds forces disguised as a civilian building in Damascus.”

TURKEY/USA

Turkey is becoming the USA’s largest supplier of artillery shells

(GlobalResearch)

Turkey Expected To Become US’ Largest Supplier Of Artillery

TUESDAY, APR 02, 2024 – 02:00 AM

Authored by Ahmed Adel via GlobalResearch.ca,

Turkey is set to become the United States’ largest supplier of artillery shells as NATO allies have exhausted their stocks and now struggle to ship ammunition to Ukraine. Turkey’s indirect support for Ukraine is also supplemented by direct support, such as producing drones and warships, yet Turkish President Recep Tayyip Erdogan offers himself as a viable partner in searching for peace between Ukraine and Russia.

“Turkish supplies of trinitrotoluene, known as TNT, and nitroguanidine, which is used as a propellant, would be crucial in the production of Nato-standard 155mm calibre ammunition — potentially tripling production, according to officials familiar with the discussions,” a Bloomberg report said, adding: “Turkey is already on track to becoming the biggest seller of the artillery shells to the US as early as this year.”

The surge in demand has delayed global orders and has put pressure on defence supply chains, especially for components such as TNT.  According to the outlet, to help alleviate this issue, Turkish defence company Repkon’s production lines are expected to produce about 30% of all US-made 155mm artillery shells by 2025.

The Pentagon said in a statement about investment in Texas’ defence industry with Turkish counterparts that working with allies “is key to building a global defence industrial base.”

Additionally, Washington purchased 116,000 rounds of battle-ready ammunition from Turkish company Arca Defense, with delivery expected later this year and further purchases believed to be concluding soon to be ready for delivery in 2025.

As Bloomberg admitted,

“The US and European efforts are part of a race to catch up with Moscow, whose war machine has put it in a position to produce or procure – according to some estimates – 4 million rounds this year, including shipments from North Korea. By contrast, the European Union expects to triple its production of artillery shells this year to around 1.4 million units.”

It is unsurprising that Turkey has been awarded a lucrative contract, given the recent announcement that Erdogan will visit the White House on May 9, the first time since US President Joe Biden took office.

The agreement with Ankara also reveals a delicate balance between the NATO allies, whose relations have been strained by the Russian military operation in Ukraine and Turkey’s months-long block on Sweden’s membership in the Atlantic Alliance. However, with Turkey greenlighting Sweden’s accession and plans to contribute to Ukraine’s military-industrial complex, the country is now being rewarded with export contracts and approval to upgrade its aging F-16 fighter jet fleet.

The Turkish-made Bayraktar TB2 unmanned aerial vehicles (UAVs) have been used by the Ukrainian military against Russian forces. The drone maker, Baykar, has initiated the construction of a factory in Ukraine, and the company’s CEO said in February that they aim to complete the project within approximately 12 months and produce around 120 units a year.

At the same time, it is recalled that in February, France, Greece, and Cyprus blocked financing for the supply of Bayraktar drones and artillery shells for Ukraine, which were to be purchased with European funds. Turkey was set to be financed from EU funds for some time, but once the order was confirmed, the three countries swiftly blocked the financing.

Although the initiative failed, the US recognised Turkey’s rapprochement with the West and is now rewarding the country with imports and exports in the defence sector. This is despite the fact that the issue of the acquisition of the Russian-made S-400 is not resolved, which is the reason Turkey was booted from the F-35 fifth-generation fighter jet program to begin with.

Erdogan announced his offer to host a peace summit between Ukraine and Russia earlier this month following a meeting with his Ukrainian counterpart Volodymyr Zelensky.

“Since the beginning, we have contributed as much as we could toward ending the war through negotiations,” Erdogan said.

“We are also ready to host a peace summit in which Russia will also be included.”

Although Erdogan claims to have contributed as much as possible to ending the war through negotiations, his country has also contributed to prolonging it. It is also recalled that during Zelensky’s visit to Turkey, he visited the shipyard where the two corvettes are being built for the Ukrainian Navy. At the same time, Turkey is providing drones to the Ukrainian military and is now replenishing the US’ artillery stocks. This is even though Ukraine has no chance of winning the war, meaning Turkey is not an honest broker for peace.

end

TURKEY/ISRAEL

Turkey needs Israel just like Egypt and Jordan with Israel’s huge Leviathan gas/oil find.. Now Turkey wants to improve relations with Israel

Israel will without a doubt try to mend relations with Erdogan.

(Jerusalem Post)

‘Anti-Israel talk was for political reasons’: Turkey looking to improve relations with Israel

A Turkish diplomat said President Erdogan was attacking Israel due to “political considerations in the local elections in Turkey.”

By JERUSALEM POST STAFF, REUTERSAPRIL 2, 2024 08:31

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Fbehind-closed-doors-turkey-looking-to-improve-relations-with-israel-794881&unitId=2900003088&userId=0825748c-83eb-4fa6-9d99-5d5781551d74&isLegacyBrowser=false&isPartitioningSupport=1&version=20240401_e4715b86115523a915f09d7f7bd9ff1cac21a174&useBunnyCDN=0&themeId=140&unitType=tts-player

While Turkish President Recep Tayyip Erdogan has been attacking Israel since the war in Gaza began, he actually wants to improve diplomatic relations with Israel, Maariv reported on Tuesday.

Last week, the deputy ambassador for Turkey in Israel was summoned by Foreign Minister Israel Katz after Erdogan said that “[Prime Minister Benjamin] Netanyahu and his administration, with their crimes against humanity in Gaza, are writing their names next to Hitler, Mussolini, and Stalin, like today’s Nazis.”

Erdogan also said that he would “send Netanyahu to Allah.”

RUSSIA/UKRAINE

Oh Oh this will hurt: Russia’s third largest oil refiner hit with a drone and believe it or not, the White House is angry because oil prices rise

(zerohedge)

Ukrainian Drones Hit Russia’s Third-Largest Oil Refinery, Prompting White House Anger

TUESDAY, APR 02, 2024 – 09:40 AM

As discussed in our morning wrap, US equity futures are dipping lower as bond yields in the US continue to move higher as crude continues to surge and is up another 2% on growing fears of middle-eastern escalation after a senior Iranian commander was killed by an Israeli airstrike in Syria yesterday, with Iran immediately vowing revenge, and as Ukraine once again struck oil infrastructure targets deep inside Russia, overnight hitting Russia’s 3rd largest refinery, ~800 miles from the front lines.

As OilPrice details, Ukrainian drones hit the primary refining unit of Russia’s third-largest refinery southeast of Moscow more than 800 miles from the front line, Reuters reported on Tuesday. Ukraine keeps striking Russian oil assets despite the Biden admin’s unequivocal demands for a hard stop, suggesting that diplomatic fallout is now imminent.

The Taneco refinery of Russian company Tatneft in Tatarstan, an industrialized region southeast of Moscow, was attacked by Ukrainian drones in the latest such attack from Ukraine on Russian refining infrastructure.

The refinery has a capacity to process 340,000 barrels per day (bpd) of crude. Its primary refining unit, with a capacity to process about 155,000 bpd, was hit in Tuesday’s attack, according to pictures seen by Reuters. The unit caught fire, which was swiftly extinguished, Russian media report.

They also quote Ramil Mullin, the mayor of the city of Nizhnekamsk, where the refinery is located, as saying that there have been no injured people in the attack.

“There are no injuries or serious damage,” Mullin wrote on Telegram. “The technological process of the enterprise has not been disrupted,” the mayor added.

A source with the Ukrainian intelligence in Kyiv told Reuters that Ukraine hit a major Russian oil facility in Tatarstan to reduce Russian oil revenues.

Ukraine has stepped up attacks on oil refineries in Russia in recent weeks, which have reduced Russian refining capacity, and which, reportedly, have the White House concerned about rising international prices.

The United States has repeatedly urged Ukraine to halt its drone attacks on Russian oil refineries due to Washington’s assessment that the strikes could lead to Russian retaliation and push up global oil prices, the Financial Times reported last month, citing sources familiar with the exchange.

According to Reuters estimates, the amount of Russian oil refining capacity that has been taken offline due to Ukrainian drone strikes is 14% of Russia’s total refining capacity.

Calculations show that 900,000 bpd of refining capacity have been taken offline by drone strikes, Reuters reported last week.   

6.Global Issues//COVID ISSUES

COVID ISSUES/VACCINE ISSUES//DRUG ISSUES

Scientists Uncover Mechanism Viruses Use To Cause Cancer

MONDAY, APR 01, 2024 – 09:00 PM

Authored by Emma Suttie via The Epoch Times (emphasis ours),

Viral infections are thought to be a central cause of between 10 to 20 percent of cancers worldwide, representing a significant portion of the global cancer burden.

A recent discovery may further our understanding of how viruses cause cancer.

Researchers from the Cleveland Clinic uncovered one of the mechanisms that a type of virus called Kaposi sarcoma-associated herpesvirus (KSHV) uses to induce cancer.

The study, published last month in Nature Communications, found that the KSHV virus activated a specific pathway responsible for cell metabolism and the way cells grow and multiply. Using current U.S. Food and Drug Administration (FDA)-approved breast cancer drugs, they were able to reduce the replication of the virus, stop the progression of the lymphoma, and shrink existing tumors in preclinical models.

Jun Zhao, of the Cleveland Clinic Florida Research and Innovation Center, who holds a doctorate in genetic, molecular, and cellular biology is the study’s lead author.

“Our findings have significant implications: viruses cause between 10% to 20% of cancers worldwide, a number that is constantly increasing as new discoveries are made. Treating virus-induced cancers with standard cancer therapies can help shrink tumors that are already there, but it doesn’t fix the underlying problem of the virus,” Mr. Zhao explained in a news release. “Understanding how pathogens transform a healthy cell into a cancer cell uncovers exploitable vulnerabilities and allows us to make and repurpose existing drugs that can effectively treat virus-associated malignancies.”

Kaposi Sarcoma-Associated Herpesvirus

Kaposi sarcoma-associated herpesvirus, also known as human herpesvirus 8 (HHV8), is “A type of virus that causes Kaposi sarcoma (a rare cancer in which lesions grow in the skin, lymph nodes, lining of the mouth, nose, and throat, and other tissues of the body). Kaposi sarcoma-associated herpesvirus also causes certain types of lymphoma (cancer that begins in cells of the immune system),” according to The National Cancer Institute.

According to the news release, Kaposi sarcoma-associated herpesvirus is similar to other herpesviruses in that it is often asymptomatic and stays in the body laying dormant after primary infection. However, when the immune system becomes weakened or compromised, as it does in many elderly people, transplant recipients, or those with HIV or AIDS (acquired immunodeficiency syndrome), the virus can reactivate. In these high-risk immunocompromised groups, the reactivated virus “can trigger aggressive cancers.”

Cancer cells replicate quickly and reprogram the body’s metabolism to help them grow and spread. Most viruses don’t produce their own energy or the molecules they need and therefore hijack the body’s cells to do the work for them. However, the researchers found that the KSHV virus assumes control of two host proteins (CDK6 and CAD) which causes the virus to replicate more quickly and the cells to multiply and spread out of control.

The news release also states that KSHV-induced cancers are “fast-acting, aggressive and difficult to treat,” and that an estimated 10 percent of people in North America and Northern Europe, and 50 percent of people in Africa have KSHV, although the numbers are thought to be much higher because the virus can present without symptoms and often goes undiagnosed.

A University of Pittsburgh article about KSHV writes, “It is highly likely that over 95% of persons who are healthy and infected with KSHV do not have symptoms and never will,” and that problems develop once a person’s immune system becomes compromised.

Viruses and Cancer

In addition to KSHV, several other viruses are known to cause human cancers. According to the American Cancer Society, the following viruses can cause cancer in humans:

• Human papillomaviruses
• Epstein-Barr virus
• Hepatitis B virus and hepatitis C virus
• Human immunodeficiency virus
• Human T-lymphotropic virus-1
• Merkel cell polyomavirus

The American Society of Microbiology states that “Viruses can lead to cancer by associating with host proteins, proliferating when the human immune system is weakened, and hijacking proliferating human cells. Compared to other viruses, human tumor viruses are unusual because they infect, but do not kill, their host cells.” This process allows the human tumor viruses to initiate ongoing infections.

The research team discovered that the combination of Palbociclib—a drug that is FDA-approved to treat breast cancer and works by blocking CDK6—and a compound that blocks CAD (the two host proteins that are hijacked by the virus) caused a substantial reduction in tumor size and improvements in cancer survival rates in preclinical models. According to the news release, “Most tumors virtually disappeared after about a month of treatment, and remaining tumors shrank around 80%. Survival increased to 100% for selected lymphoma cell lines.”

Future Impact

The findings could lead to new options for the treatment of KSHV-associated cancers, which include Kaposi’s sarcoma, primary effusion lymphoma, and HHV8-associated multicentric Castleman disease. They could also potentially extend beyond KSHV-associated cancers to other viruses that cause cancer using the same or similar mechanisms.

As for what the findings mean for the future, Mr. Zhao says, “Cellular metabolism could be hijacked by both viruses and cancers for pathogenesis. By investigating these metabolic rewiring mechanisms, we aim to find the Achilles’ heel of cancer-causing viruses and non-viral cancers. I’m excited to see what the future of this work holds.

end

Vaccinated People Show Long COVID-Like Symptoms With Detectable Spike Proteins: Preprint Study

TUESDAY, APR 02, 2024 – 03:30 AM

Authored by Marina Zhang via The Epoch Times (emphasis ours),

Spike protein could remain in immune cells for more than 245 days following vaccination, according to a recent preprint. The study evaluated 50 patients who developed long COVID-like symptoms after the COVID-19 vaccine; none had been infected with the virus.

The authors extracted immune cells from 14 post-vaccine patients and found that 13 had spike protein in their immune cells. Asymptomatic vaccinated people had no spike present.

Researchers from InCellDx, a research company that produces panels and protocols that test for and treat long COVID and post-vaccine syndrome, authored the paper.

Their previous study published in 2022 showed that unvaccinated long-COVID patients could have spike protein persist in their immune cells for 15 months.

In both papers, the spike proteins were detected in monocytes, immune cells that circulate the body.

These findings indicate that the persistence of these spike proteins was likely the driver for the symptoms of long COVID and post-vaccine syndrome, InCellDx founder and lead study author Dr. Bruce Patterson told The Epoch Times.

“These cells bind to the blood vessels. They cause endotheliitis (inflammation of endothelium) and vascular inflammation, which I think now has been corroborated by many as being probably one of the most important pathogenic mechanisms in long COVID,” Dr. Patterson said.

Spike Protein Reservoirs

“Monocytes are scavenger cells of the immune system,” Dr. Patterson said. Monocytes function similarly to how the video game character Pac-Man does: They roam the body and gobble up proteins they come across in their way.

In long COVID, monocytes gobble up spike protein, the virus’ viral debris. In post-vaccine syndrome, the monocytes engulf spike proteins, which the body makes from the COVID-19 vaccine.

These spike proteins are then stored inside the monocytes, which causes the cells to live longer than they should. The prolonged longevity can cause inflammation, leading to various long-lasting symptoms.

In the study, Dr. Patterson and his team observed that post-vaccine patients had significantly higher monocyte levels than those without post-vaccine symptoms. The symptomatic post-vaccine patients also had a clear elevation in inflammatory biomarkers, whereas the asymptomatic patients did not.

Dr. Patterson believes that at the time of the study, viral replication or spike protein production from vaccinations was no longer occurring. Instead, the spike proteins persisted for months because they were being stored.

He reasoned that once the monocytes engulfed the spike proteins, the spike hijacked the cells’ cell death program, turning off cell death “so they become long-lived cells.”

A similar phenomenon occurs with the HIV and hepatitis C viruses.

Monocyte cells can cause inflammation. Particularly, nonclassical monocytes, which traverse the blood vessels, can lead to blood vasculature inflammation and damage.

Several studies have identified inflamed and damaged vasculature as central features of long-COVID symptoms. These patients have a high level of inflammatory chemicals, which can promote fatigue, blood clotting, immune and nervous system dysregulation, and more.

Long COVID vs. ‘Long Vax’

The recent preprint also shows how long COVID and post-vaccine syndrome may be differentiated.

While the same thing—spike protein persistence—likely causes both conditions, the conditions have slightly differing chemical profiles, especially regarding the level of interleukin-8, or IL-8.

IL-8 is a type of cytokine that aids in attracting immune cells to areas of inflammation, Dr. Patterson explained.

He said that medication that blocks these different cytokines should resolve symptoms. For example, his team found that tumor necrosis factor-alpha (TNF-alpha) is a cytokine that, when elevated, induces fatigue. Therefore, reducing that cytokine can help diminish fatigue.

Other cytokines shared between long COVID and the condition dubbed “long vax” include sCD40L and CCR5, which drive vascular inflammation. Another cytokine, IL-6, signals systemic inflammation.

Dr. Patterson explained that the two conditions’ distinct chemical profiles may be due to their different delivery mechanisms: Viral infection causes long COVID, while inoculation causes post-vaccine syndrome.

Treatment Protocol

Dr. Patterson uses the same protocol for treating long COVID and post-vaccine syndrome. Both treatments entail curbing inflammation in the blood vessels and throughout the body.

His protocol includes using maraviroc, an HIV drug, and atorvastatin, a type of statin, to target vasculature inflammation.

Maraviroc blocks CCR5, a type of inflammatory cytokine that causes blood vessel inflammation, while statins can bind to the receptors inside the blood vessels, blocking them from binding to inflammatory monocytes.

Many doctors have found successes with ivermectin, N-acetylcysteine (NAC), and nattokinase, all of which are drugs and nutraceuticals that help break down outside spike protein. However, Dr. Patterson reported the opposite in his practice. He explained that the drugs cannot target the spike protein stored inside cells.

In February, the U.S. Food and Drug Administration (FDA) approved Dr. Patterson’s clinical trial to test a maraviroc and statin combination for treating long COVID.

Long Vax Masked as Long COVID

The study findings imply that some people diagnosed with long COVID may actually be suffering from post-vaccination symptoms.

“Evidence they blame vaccine injury on ’long covid’?,” Dr. Lynn Flynn, a virology and infectious disease expert, wrote on X, citing the preprint.

Dr. Patterson said that the symptoms being reported in these post-vaccine patients “were almost identical to the symptoms in long COVID,” with the predominant symptoms being fatigue, neuropathy, brain fog, and headache. Long-COVID patients in another cohort also reported these symptoms.

“[Long vax] has a very low prevalence, but because billions of [people] are vaccinated, there’s a great number of individuals who have long vax,” he added.

Apart from post-vaccine syndrome, Dr. Patterson said that patients with an exacerbation of Lyme disease and myalgic encephalomyelitis (chronic fatigue syndrome) have also been labeled as long-COVID patients due to a symptoms-based diagnosis.

END

GLOBAL ISSUES//GLOBAL SALES

end

MARK CRISPIN MILLER

Since COVID, there’s been something just as weird about all those rampaging mobs— “protestors,” “migrants,” “shoplifters” and “terrorists”—as there is about “the virus” and those “wildfires”

Where once they used “lone gunmen” to destroy the promise of America, today they’re using angry hordes to wreck what’s left of it

MARK CRISPIN MILLERAPR 2

READ IN APP

Retail outlets coast to coast—and especially in our once-wondrous cities, from San Francisco to Chicago to New York—are under serial attack, plundered by brash hordes of “shoplifters” whose blatant theft goes on and on without the slightest interference by police, and even with a startling acquiescence by the retailers themselves. If someone grabs a load of merchandise, and runs away with it, it’s often not the pillager who gets in trouble, but the employee who tries to stop the crime:

We—or those of us with eyes wide open—saw this kind of thing throughout the Days of Rage provoked by George Floyd’s murder (assuming he was murdered). as we see in this video taken by a friend of mine in Chelsea, New York City, as “protestors” coolly trashed his building with New York City’s finest looking on. (My friend’s account is just below this video.)

News from Underground by Mark Crispin Miller is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

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The attack took place on June 1, 2020. I have many additional videos of rioting and attacks on buildings from around town that day. The videos presented here are of the attack on my building in Chelsea, which the feeling of being planned and coordinated.

Cars rolled up and commenced lightning strikes on the Gristedes on the ground floor of my building, which contains a pharmacy. The liquor store was also attacked. At least two cars from outside of the neighborhood and possibly out of state rolled up and disgorged attackers with the appropriate tools.

In the first video, the car that they come of out is in the extreme right of frame. In subsequent videos, there are close ups. You will see the first cop car swing by, which somehow felt like it was more of a helpful timing notice than an effort to scare off the attackers. In a later video, another car stops to let out yet another group. Then the cops finally arrive en masse, but they soon leave. At that point neighborhood folks from the nearby projects fill in to loot where the pros in car left off. One of the locals was heard to sadly comment, “We’re destroying our own neighborhood.”

You’d have to be a very trusting soul—or, one might say, a simpleton—to see such actions as spontaneous eruptions, based on mass privation and collective rage (as after MLK’s assassination, or the verdict over Rodney King’s assault by rthe LAPD), and not as operations managed from on high. The cops’ bizarre inaction tells us that these COVID-era rampages have been organized against the rest of us, not by the “shoplifters” or “protestors” or “rioters” themselves, but by the same exalted players who hatched the “virus,” spread the terror over it, pushed (and are stillpushing) “vaccination,” made heroes of the Nazis in Ukraine, incinerated Maui (among other once-idyllic places), trashed essential infrastructure and otherwise promoted hell on Earth. In short, those handy mobs—also including both Antifa and their “fascist” adversaries (both blocs guided by state agents), the “migrants” strangely favored all throughout the West, and the federal performers in the Capitol on “January 6”—do not represent the triumph of mere anarchy, since they are but the shock troops in the ongoing dirty war against the human world.

Of course, such high manipulation is, in itself, nothing new, since it’s long been an imperial tactic to divide, subdue and/or misdirect the masses. Just as the British had the Indians attack white settlements, the Czars whipped up pogroms to distract the Russian masses, and the Robber Barons hobbled labor by recruiting scabs, so have the powers that be always reached down to keep themselves above it all. Thus COINTELPRO and the like had agents infiltrate, harass, divide and frame the Panthers, moved Weatherman to nihilistic violence, and then went after Progressive Labor in the Seventies, when they also created the Symbionese Liberation Army (which slipped its leash)—all to sabotage the left, and give it a bad name. Elsewhere the CIA repeatedly manipulated crowds and funded factions to help bring down wayward regimes, as in Teheran in 1953, and Chile two decades later (to pick just two of numerous examples); and there is evidence of much the same high hand behind such seeming rogue jihadi movements as ISIS and al Qaeda.

A Chilean protest of Salvador Allende’s policies, choreographed by the CIA

And yet, while such manipulation is itself an ancient trick, its global use today is something new, with nation after nation crumbling under this worldwide assault on all the rest of us, and on our sovereign states, in furtherance of the globalist agenda. This planetary operation now obliges us to take a closer look at all the mobs at work today, rampaging as if out of nowhere—including even Hamas, whose bloody foray on October 7 was evidently not the bold stroke lauded by its Western celebrants for besting Israel’s mighty government, but yet another operation which that very government allowed to happen—just as on 9/11, or like those city cops who let those weaponized “shoplifters” do their thing. As many an Israeli knows full well (though “our free press” has blacked out that awareness), Hamas and the IDF apparently colluded in that operation, which has paid off for the globalists not only in more deaths among the rest of us, but also by dividing nearly all humanity more bitterly than ever, as both antisemitism and Islamophobia appear to be at least as virulent as in the Middle Ages.

It is to force us all into that Great Leap Backward that its crackpot authors have been mobbing us nonstop, to have us burning up with hatred for each other, instead of joining forces to go after them at last.

MARK CRISPIN MILLER

DR PAUL ALEXANDER

Morris Chang, founder of TSMC (Taiwan Semiconductor Manufacturing Company), get to know him! He founded in western terms, the most important ‘little’ company that sits at the heart of all of your life

America, not for Hong Kong, but for Taiwan, WILL go to war and even shed blood for TSMC…the threat of China taking Taiwan is ONLY about China controlling TSMC & those semi-conductors, chips

DR. PAUL ALEXANDERAPR 1

READ IN APP

Get to know Morris and TSMC…understand how key the semi-conductors by TSMC are to your life…and why it is likely USA will move to war against China should China move on Taiwan…IMO, even USA’s stance with Ukraine on Russia has some fundaments here…optics…intentions. How far will USA go if it deems its national security is at risk…well, those chips should they fall into China’s leadership hands will show us. be prepared. had it not been about TSMC, USA and no one would care if Taiwan sunk, or floated. well, maybe, it has a good geo position…so maybe…

but TSMC may well be the flash point for upcoming war. that is already booked.

it’s all about the chips, the chips…

SLAY NEWS

EVOL NEWS:

NEWS ADDICT

LATEST REPORTS FOR NEWS JUNKIESWEF to Kill 4 Billion with ‘Net Zero’ AgendaThe World Economic Forum (WEF) is planning to kill a staggering 4 billion people using a key tool in its depopulation agenda: “Net Zero.”READ THE FULL REPORTOver 1 Million Over-65s Killed by Covid Shots, CDC Data ShowsShocking data from the U.S. Centers for Disease Control and Prevention (CDC) has revealed that over 1 million Americans over the age of 65 have now been killed by Covid mRNA shots.READ THE FULL REPORTBiden CAVES to Crazed Activists Right Before ElectionPresident Joe Biden is discreetly but steadily altering his approach to the Israel-Hamas conflict in response to mounting pressure from activist groups and his constituents in anticipation of the 2024 election.READ THE FULL REPORTNancy Pelosi Trashes Easter SundayRep. Nancy Pelosi (D-CA), who claims to be Catholic, trashed Easter Sunday on the Christian Holy day.READ THE FULL REPORTInfluencer Who Told Illegals How to Exploit U.S. Loopholes Gets BAD NewsThe illegal immigrant who quickly gained notoriety for his TikTok videos providing instructions to other illegal aliens on how to break into American homes and then occupy them without permission has finally faced consequences.READ THE FULL REPORT

MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK

end

7//OIL ISSUES//NATURAL GAS ISSUES//ELECTRICAL GRID ISSUES// RENEWABLE ENERGY ISSUES//USA AND GLOBE//GLOBAL SHIPPING

8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//

CANADA

This is going to be hugely problematic for Canada has its population has exploded from 36 million people to 41 million in a couple of years

(zerohedge)

Canada Marks Most Rapid Population Growth In 66 Years

MONDAY, APR 01, 2024 – 06:40 PM

Thanks to an influx of immigrants in 2023, Canada has experienced its most rapid population growth in six decades, according to True North.

As of January 1, 2024, the nation’s population reached a staggering 40,769,890, marking a 3.2% increase from the previous year, the highest annual growth reported since 1957. Canada’s real-time population clock shows that the country’s population has now broken 41 million, just months after breaking the 40 million threshold.

In Q4, 2023 alone, Canada’s population increased by 241,494 people between Oct. 1 and Dec. 31.

“In 2023, the vast majority (97.6%) of Canada’s population growth came from international migration (both permanent and temporary immigration), and the remaining portion (2.4%) came from natural increase,” reads a report published last week by Statistics Canada.

According to the report, temporary immigration has primarily fueled the population increase – as a record 804,901 non-permanent residents, including temporary workers and international students, while 471,771 permanent migrants also arrived in alignment with targets set by Immigration, Refugees and Citizenship Canada.

According to a recent report by True North’s Candice Malcolm, the number of illegal migrants has exploded tenfold since Stephen Harper was Prime Minister. She said that the total number of newcomers in Canada is approximately 2.2 million people annually.

Amidst this rapid growth, interprovincial migration has also seen notable shifts, with Alberta recording a significant net gain, the largest seen since comparable data became available in 1972. -True North

That said, Ontario saw an exodus of 36,197 people to other provinces, which followed a loss of 38,816 people in 2022. 

Marc Miller, Canada’s Immigration Minister, previously said that the number of foreign workers and international students had resulted in a system that was “out of control,” and recently announced a new target to be introduced in September that would bring temporary residents from 6.2% of the population to 5% within three years.

Senior BMO economics Robert Kavcic suggested that this reduction could bring Canada’s population growth from more than 3% to around 1%.

“The 400,000-500,000 range is just about the sweet spot for net immigration that provides needed long-run labour supply, while also being absorbable,” he said.

YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS TUESDAY MORNING 7;30AM//OPENING AND CLOSING

EURO VS USA DOLLAR:  1.0745 UP  .0008 

USA/ YEN 151.68 UP .087  NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN  STILL FALLS//

GBP/USA 1.2567 UP  .0018

USA/CAN DOLLAR:  1.3566 UP .0008 (CDN DOLLAR DOWN 8 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWN 2.42 PTS OR 0.08%

 Hang Seng CLOSED UP 390.10 PTS OR 2.36%

AUSTRALIA CLOSED  DOWN .10%

 // EUROPEAN BOURSE:     MOSTLY ALL MIXED

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  MOSTLY ALL MIXED

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 390.10 OR 2.36%

/SHANGHAI CLOSED UP 36,21 PTS OR 0.19%

AUSTRALIA BOURSE CLOSED DOWN .10%

(Nikkei (Japan) CLOSED UP 35.82 PTS OR 0.09%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2257.90

silver:$25.41

USA dollar index early TUESDAY  morning: 104.69 UP 1 BASIS POINTS FROM MONDAY’s CLOSE.

TUESDAY  MORNING NUMBERS ENDS

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And now your closing TUESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 3.093% UP 9  in basis point(s) yield

JAPANESE BOND YIELD: +0.743% UP 2 AND  2//100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.257 UP 10  in basis points yield

ITALIAN 10 YR BOND YIELD 3.789 UP 9 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.411 UP 11 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR  TUESDAY  

Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM

Euro/USA 1.0774 UP   0.0037 or 37  basis points

USA/Japan: 151.56 UP 0.036 OR YEN IS DOWN 4 BASIS PTS

Great Britain/USA 1.2568 UP .0022 OR 22  BASIS POINTS //

Canadian dollar UP .0007 OR 7 BASIS pts  to 1.3566

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The USA/Yuan,  CNY: closed    ON SHORE  CLOSED DOWN AT 7.2337    

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)…. (7.2537)

TURKISH LIRA:  32.09 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield  at +0.743…

Your closing 10 yr US bond yield UP 4 in basis points from MONDAY at  4.372% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

 USA 30 yr bond yield  4.506 UP 4  in basis points  /12.00 PM

USA 2 YR BOND YIELD: 4.699 DOWN 1 BASIS PTS.

GOLD AT 11;30 AM 2271.20

SILVER AT 11;30: 25.86

Your  12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates:  TUESDAY CLOSING TIME 12:00 PM//

London: CLOSED DOWN 17.53 PTS OR 0.22%

German Dax :  CLOSED DOWN 209.36 PTS OR 1.13%

Paris CAC CLOSED DOWN 75.767 PTS OR 0.92%

Spain IBEX CLOSED DOWN 99.00PTS OR 0.89%

Italian MIB: CLOSED DOWN 425.12 PTS OR 1.22%

WTI Oil price  84.52   12: EST/

Brent Oil:  87.97  12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  92.48 ROUBLE DOWN 0 AND  34/100      

GERMAN 10 YR BOND YIELD; +2.411 UP 11  BASIS PTS

UK 10 YR YIELD: 4.1190 UP 26 BASIS POINTS

CLOSING NUMBERS: 4 PM

Euro vs USA  DOWN       OR 45 BASIS POINTS

British Pound: DOWN   or 68 basis pts

BRITISH 10 YR GILT BOND YIELD:  XXX  DOWN 2 BASIS PTS//

JAPAN 10 YR YIELD: 0XXX%

USA dollar vs Japanese Yen: 151.65 UP 0.345//YEN DOWN 35  BASIS PTS//

USA dollar vs Canadian dollar: 1.3575 UP .0039 CDN dollar DOWN 39  basis pts)

West Texas intermediate oil: 83.92

Brent OIL:  87.58

USA 10 yr bond yield UP 13  BASIS pts to 4.321%  

USA 30 yr bond yield UP 12 BASIS PTS to 4.460%

USA 2 YR BOND: UP 0 PTS AT  4.715%

USA dollar index: 104.72 UP 45  BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 32.23 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  92.14 UP 0  AND  34/100 roubles

GOLD  2283.60 3:30 PM

SILVER: 26.17 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 396,61 PTS OR 1.00%

NASDAQ DOWN 171.42 PTS OR 0.94%

VOLATILITY INDEX: 14.61 UP .96 PTS OR 7.07%

GLD: $210.89 UP 3.07 OR 1.48%

SLV/ $23.84 UP .93 OR 4.29%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Gold Hits Another New Record High But Bonds, Stocks, & Bitcoin Battered On ‘Good’ News

TUESDAY, APR 02, 2024 – 04:00 PM

Mixed (well good) data this morning – in-line JOLTS (labor market shows no signs of cracking), stronger than expected Factory orders, but weaker than expected durable goods (final) and shipments data actually shrank in Feb (bad for GDP) – had no major impact on rate-cut expectations (which remain low – 67bps total cuts in 2024, 50% odds of June cut). US macro surprise data is picking up (and overnight saw European PMIs better than expected)…

Source: Bloomberg

But Fed’s Mester sung from the same hymn-sheet as Waller and Bostic, saying that The Fed needs more time to make the ‘cut’ call:

“But I need to see more data to raise my confidence,” Mester said Tuesday in prepared remarks for an event at the Cleveland Fed.

 “Some further monthly readings will give us a better sense of whether the disinflation process is stalling out or whether the start-of-the-year readings reflect a temporary detour on the downward path back to price stability.”

And then she explained her view of Fed asymmetry:

“At this point, I think the bigger risk would be to begin reducing the funds rate too early,” Mester said.

“And with labor markets and economic growth both being very solid, we do not need to take that risk.”

And while Mester’s comments did not seem to be an immediate catalyst, yields kept rising overnight (on stronger EU PMIs?), especially at the long-end (2Y unch, 30Y +6bps) extending yesterday’s bloodbathery…

Source: Bloomberg

The 10Y broke above its YTD highs to its highest since Nov 2023 (2nd biggest 2-day jump in yields since October)

Source: Bloomberg

…and steepening the yield curve (2s30s) significantly…

Source: Bloomberg

And stocks appeared to run out of momentum again overnight as yields rose during the European session with Small Caps extending losses in the US session. The last hour saw a mini buying spree which put a little lipstick on the day’s pig. Small Caps were the biggest losers…

‘Most Shorted’ stocks were clubbed like a baby seal for the second day in a row… the biggest 2-day drop in the shortest stocks since November…

Source: Bloomberg

The dollar tumbled, erasing most of yesterday’s gains…

Source: Bloomberg

Bitcoin took a big tumble today, with reports that the alleged ‘Silk Road’ wallet moved 30,175 bitcoins to a Coinbase wallet (perhaps priming for a sale).

Source: Bloomberg

We note that the last time this wallet – in March 2023 – was a serious BTFD opportunity…

Source: Bloomberg

Also of note, the players in the perp futs market have been very active the last couple of days (all but one of the heavy volume surges were sells)…

Ethereum was worse… taking the ETH/BTC ratio down to its lowest since April 2021…

Source: Bloomberg

But while one ‘alternative’ currency is tumbling, another (older one) is rallying to new record highs… Spot Gold hit $2277 intraday – a new record high….

Source: Bloomberg

For a change, Silver outperformed gold today, with spot prices surging up to $26 for the first time since May 2023…

Source: Bloomberg

And Black Gold also surged up above $85 (WTI) – the highest since Oct 2023…

Source: Bloomberg

Finally, as growth expectations have stagnated somewhat over the past year (though the last week has seen some positive surprises), Citi’s inflation-suprise index has resurged back to its highest since Dec 2022…

Source: Bloomberg

…we love the smell of stagflation in the morning… and gold is rising along with Fed policy-error-risk.

END

MORNING TRADING/

AFTERNOON TRADING/

II USA DATA

Pay no attention to this garbage!

GDP Growth Doubts Rise As Goods Shipments Disappoint In Feb; Orders Revised Lower… Again

TUESDAY, APR 02, 2024 – 10:11 AM

Having plunged by the most since COVID lockdowns in January, analysts expected a small rebound in February data released this morning. Analysts were right as headline factory orders rose 1.4% MoM (vs +1.0% exp) but this was from a downwardly revised 3.8% MoM loss in January (from -3.6%). That lifted the YoY rise in factory orders to +1.0%…

Source: Bloomberg

On a core (ex-transports) basis, orders also beat expectations, rising 1.1% MoM (vs +0.5% MoM exp) from an upwardly revised 0.6% MoM loss in January. That MoM gain inched the YoY orders back into the green (+0.17%)…

Source: Bloomberg

Final factory orders were revised slightly lower over the month with capital goods shipments ex-air –  a key input for the government’s GDP calculation – tumbled 0.6% MoM (the worst since Feb 2021)…

Source: Bloomberg

That’s a troubling signal for future production and and limits the scope for a persistent upswing in capex.

Finally, it’s that same old issue again… downward revisions!! In the last 21 months, US factory orders have been downwardly revised 17 times…

Source: Bloomberg

Bidenomics – make it up as you go along – continues.

END

Not much of a change in the JOLTS data

(zerohedge)

JOLTed Snoozer: Job Openings Unchanged As Hiring And Quits Unexpectedly Rise

TUESDAY, APR 02, 2024 – 10:42 AM

After steep declines in US job openings accelerated in the last few months of 2023, prompting economists to pat themselves on the back for predicting a soft landing and validating their expectations for Fed rate cuts, only to see the trend reverse dramatically in the last month of 2023 when job openings unexpectedly surged back over 9 million in, only to reverse in January of 2024, moments ago the BLS came out with the latest Job Openings data (which as a reminder always lags the BLS by a month) and which showed that in February there was… virtually no change: that’s right, after several very volatile months, the BLS reported that in February the number of job openings were flat at 8.756 million, practically unchanged from the (downward revised) 8.748 million in January, and right on top of the 8.730 million expected.

According to the DOL, in February, job openings increased in finance and insurance (+126,000); state and local government, excluding education (+91,000); and arts, entertainment, and recreation (+51,000); job openings decreased in information (-85,000) and in federal government (-21,000).

And speaking of revisions, just like in the payrolls report, here too the BLS appears to be tasked with making a great, if erroneous, first impression then quietly revising it lower, and sure enough, 12 of the past 14 months have seen job openings revised lower, just like everything else in Biden’s economy.

Accurate or not, the unchanged number of job openings coupled with the recent jump in unemployed workers meant that in February, the number of job openings was 2.298 million more than the number of unemployed workers (which the BLS reported was 6.458 million), down significantly from last month’s 2.624 million.

Said otherwise, in January the number of job openings to unemployed dropped to 1.36, a sharp slide from the January print of 1.43, and matching the lowest level since August 2021 and almost back to pre-covid levels of 1.3.

What was more interesting than the snoozer of a headline job openings print – which we are certain will be revised lower again next month as has been the case with everything under the Biden admin – was the number of quits: here we find that the number of people quitting their jobs, an indicator closely associated with labor market strength as it shows workers are confident they can find a better wage elsewhere – rose for the second month in a row, to 3.484 million up from an upward revised 3.446 million (vs 3.385 million reported initially).

And another interesting twist is that amid the stagnant level of job openings, not only did the number of quits increase, but so did the number of hires, which rose to 5.818 million – the highest since October 2023 – from 5.698 million despite a 44K drop in durable goods manufacturing hiring.

Finally, no matter what the “data” shows, let’s not forget that it is all just estimated, and it is safe to say that the real number of job openings remains still far lower since half of it – or some 70% to be specific – is guesswork. As the BLS itself admits, while the response rate to most of its various labor (and other) surveys has collapsed in recent years, nothing is as bad as the JOLTS report where the actual response rate remains near a record low 33%

In other words, more than two thirds, or 70% of the final number of job openings, is estimated!

And at a time when it is critical for Biden to still maintain the illusion that at least the labor market remains strong when everything else in Biden’s economy is crashing and burning, we’ll let readers decide if the admin’s Labor Department is plugging the estimate gap with numbers that are stronger or weaker (we already know that they always get revised lower next month).

TUCKER CARLSON…

END

III  USA ECONOMIC COMMENTARIES

BALTIMORE/

Temporary Shipping Channel Reopens Near Baltimore Bridge Collapse For Small Vessels 

TUESDAY, APR 02, 2024 – 06:55 AM

Salvage crews at the Port of Baltimore have opened up a temporary channel to keep commercial traffic flowing one week after the collapse of the 1.6-mile-long Francis Scott Key Bridge. 

Officials said the narrow channel is 11 feet deep, with a 264-foot horizontal clearance and a 95-foot vertical clearance. Small barges were seen passing through the new channel, as the main shipping channel remained clogged with the mangled steel bridge twisted around the container ship “Dali.”

“This marks an important first step along the road to reopening the port of Baltimore,” US Coast Guard Captain David O’Connell, federal on-scene coordinator, said on Monday. 

O’Connell said, “By opening this alternate route, we will support the flow of marine traffic into Baltimore.”

on” that federal officials have no timeline for reopening the main shipping channel or rebuilding the bridge. 

“This is going to be a very complex process,” Buttigieg said, adding, “There are, even now, forces acting on that steel, so it takes a lot to make sure that it can be dismantled safely, to make sure that the vessel stays where it is supposed to be and doesn’t swing out into the channel.”

On Monday, the Department of Defense stated three massive cranes have arrived at the collapsed bridge:

“The Chesapeake, a 1,000-ton lift capacity derrick barge, the Ferrell, a 200-ton lift capacity revolving crane barge, and the Oyster Bay, a 150-ton lift capacity crane barge have arrived in Baltimore Harbor.”

The DoD added:

“An additional 400-ton lift capacity barge is on track to arrive early next week.”

On Monday evening, US Coast Guard Rear Admiral Shannon Gilreath told reporters that salvage operations underneath the water are even more complicated than initially imagined:

“These girders are essentially tangled together, intertwined, making it very difficult to figure out where you need to potentially cut so that we can make that into more manageable sizes to lift them from the water.” 

At the same press conference, Governor Wes Moore said: 

“We’re talking about something that is almost the size of the Statue of Liberty … and the scale of this project, to be clear, is enormous. And even the smallest (tasks) are huge.”

Even with a temporary channel reopened, activity at the Port of Baltimore has crashed and will remain paralyzed until the main shipping channel is reopened. 

CBS News’ Alex Glaze spoke with Scott Cowan, president of the local chapter of the International Longshoremen’s Association, who warned, “If there are no ships, there’s no cargo. If there’s no cargo, there is no work.” 

Cowan said thousands of unionized port workers could lose their jobs. 

ILA leaders have met with state and federal officials about the situation. 

Maryland Senate President Bill Ferguson introduced emergency legislation to the General Assembly to provide stimmy checks for ILA workers. 

“In the coming days, the General Assembly will pass the PORT Act which will support workers not covered by our unemployment insurance system, ensure impacted businesses can retain their workforce and incentivize companies to come back to the Port after it reopens,” Ferguson posted on X on Friday. 

The bridge collapse could have been avoided or at least not a total disaster if Maryland officials had not neglected to spend millions of dollars to install anti-ship strike barriers around critical bridge supports. Also, despite the federal government immediately coming out one week ago and saying the container ship strike was not terror-related, some users on X continue to float the idea this could’ve been “deliberate.” 

END

BALTIMORE

Baltimore Bridge Collapse: New Underwater 3D Images Show “Sheer Magnitude” Of Salvage Operation Ahead

TUESDAY, APR 02, 2024 – 09:45 AM

Update (0945ET):

Local, state, or federal officials have yet to offer a timeline for salvage crews to completely remove the collapsed bridge from the main shipping channel entering the Port of Baltimore. 

On Tuesday morning, the Baltimore District, US Army Corps of Engineers published new 3D images of the wreckage at the bottom of the shipping channel on social media. 

“These 3D images show the sheer magnitude of the very difficult and challenging salvage operation ahead,” the US Army Corps of Engineers said in a Facebook post. 

The post continued, “The underwater sonar imaging tool, known as CODA Octopus, is the primary survey tool used by divers, with visibility clouded to just one to two feet because of the four to five feet of mud and loose bottom of the Patapsco River.” 

“Divers are forced to work in virtual darkness, because when lit, their view is similar to driving through a heavy snowfall at night with high-beam headlights on. So murky is the water, divers must be guided via detailed verbal directions from operators in vessels topside who are viewing real-time CODA imagery,” Army Corps of Engineers pointed out. 

They added that “no usable underwater video exists of the wreckage” because, as one Navy diver put it, “there’s no need to take video of something you can’t even see.”

The complexity of this salvage operation suggests the main shipping channel will be closed for weeks if not months. 

*    *    * 

Salvage crews at the Port of Baltimore have opened up a temporary channel to keep commercial traffic flowing one week after the collapse of the 1.6-mile-long Francis Scott Key Bridge. 

Officials said the narrow channel is 11 feet deep, with a 264-foot horizontal clearance and a 95-foot vertical clearance. Small barges were seen passing through the new channel, as the main shipping channel remained clogged with the mangled steel bridge twisted around the container ship “Dali.”

“This marks an important first step along the road to reopening the port of Baltimore,” US Coast Guard Captain David O’Connell, federal on-scene coordinator, said on Monday. 

O’Connell said, “By opening this alternate route, we will support the flow of marine traffic into Baltimore.”

Secretary of Transportation Pete Buttigieg said Sunday on CBS’s “Face the Nation” that federal officials have no timeline for reopening the main shipping channel or rebuilding the bridge. 

“This is going to be a very complex process,” Buttigieg said, adding, “There are, even now, forces acting on that steel, so it takes a lot to make sure that it can be dismantled safely, to make sure that the vessel stays where it is supposed to be and doesn’t swing out into the channel.”

On Monday, the Department of Defense stated three massive cranes have arrived at the collapsed bridge:

“The Chesapeake, a 1,000-ton lift capacity derrick barge, the Ferrell, a 200-ton lift capacity revolving crane barge, and the Oyster Bay, a 150-ton lift capacity crane barge have arrived in Baltimore Harbor.”

The DoD added:

“An additional 400-ton lift capacity barge is on track to arrive early next week.”

On Monday evening, US Coast Guard Rear Admiral Shannon Gilreath told reporters that salvage operations underneath the water are even more complicated than initially imagined:

“These girders are essentially tangled together, intertwined, making it very difficult to figure out where you need to potentially cut so that we can make that into more manageable sizes to lift them from the water.” 

At the same press conference, Governor Wes Moore said: 

“We’re talking about something that is almost the size of the Statue of Liberty … and the scale of this project, to be clear, is enormous. And even the smallest (tasks) are huge.”

Even with a temporary channel reopened, activity at the Port of Baltimore has crashed and will remain paralyzed until the main shipping channel is reopened. 

CBS News’ Alex Glaze spoke with Scott Cowan, president of the local chapter of the International Longshoremen’s Association, who warned, “If there are no ships, there’s no cargo. If there’s no cargo, there is no work.” 

Cowan said thousands of unionized port workers could lose their jobs. 

ILA leaders have met with state and federal officials about the situation. 

Maryland Senate President Bill Ferguson introduced emergency legislation to the General Assembly to provide stimmy checks for ILA workers. 

“In the coming days, the General Assembly will pass the PORT Act which will support workers not covered by our unemployment insurance system, ensure impacted businesses can retain their workforce and incentivize companies to come back to the Port after it reopens,” Ferguson posted on X on Friday. 

The bridge collapse could have been avoided or at least not a total disaster if Maryland officials had not neglected to spend millions of dollars to install anti-ship strike barriers around critical bridge supports. Also, despite the federal government immediately coming out one week ago and saying the container ship strike was not terror-related, some users on X continue to float the idea this could’ve been “deliberate.”

CALIFORNIA

California has a huge deficit of 222 billion dollars and a debt that equates to 4.7% of USA debt i.e. 1.6 trillion dollars! The deficit is 50% of GDP

(1,6 trillion California and 34 trillion dollar debt USA)

California’s Deficit Is $222 Billion And The State Is $1.6 Trillion In Debt

MONDAY, APR 01, 2024 – 08:20 PM

By Mike Shedlock of MishTalk

Governor Gavin Newsom bragged of a surplus, but California is seriously underwater. The next recession will hit the state extremely hard.

Golden State Budget Fantasy

The City Journal founder Ed Ring comments on the Golden State Budget Fantasy

While finalizing the upcoming fiscal year’s state budget back in May 2022, California governor Gavin Newsom boasted of an extraordinary projected surplus: $97 billion. The governor immediately collaborated with an enthusiastic state legislature to spend it all. Of course, new spending on new programs and benefits tends to become permanent.

This has happened repeatedly in California. Between fiscal year 2012–13 and fiscal year 2022–23 (the year with the projected $97 billion surplus), per capita general-fund spending doubled, from just over $3,000 per resident to just under $6,000. (All figures are in 2022 inflation-adjusted dollars.)

The State Office of Legislative Analyst’s latest report projects a $73 billion dollar deficit for the next fiscal year. It won’t be easy to paper over this debt, but the state may use its opaque accounting system to hide the ball.

California’s general-fund budgets are reported on a cash basis. The state’s balance sheet, however, uses “accrual-based accounting.” Without getting too far into the weeds, this is an apples v. oranges situation. Instead of the algebraic perfection of private-sector income statements, balance sheets, and cash flows, government accounting provides no easy way to reconcile what you see on the budget.

Some watchdogs, however, have succeeded in cracking the code. John Moorlach, one of the only certified public accountants to serve in the California State Senate, just published a review of the state’s fiscal health, focusing on the balance sheet. According to Moorlach, California’s balance sheet is in trouble.

Moorlach declared in a March California Insider interview that the state “now has the largest unrestricted net deficit in the US: $222 Billion.” In plain English, Moorlach is saying that California’s state government accounts have liabilities that exceed assets by $222 billion. No matter how creative Newsom and his financial wizards may be, someday that money will have to be paid.

A remedy that California has turned to over the years and will undoubtedly turn to now is to accumulate additional long-term debt. Emulating the federal government, but lacking its dollar-printing ability, California’s state and local governments and agencies have racked up over a trillion dollars in debt, primarily in bonds and unfunded pension liabilities. These liabilities, too, must be paid. Since that’s all but impossible, the liabilities must be serviced with payments that, just as at the federal level, will eat up more and more of the operating budgets.

How Much Is California in Debt?

The above link says over a trillion. That’s being very generous to California. Click on it to discover … California State and Local Liabilities exceed $1.6 Trillion.

California’s total state and local government debt now stands at almost $1.6 trillion, or about half the state’s GDP.

That isn’t an alarming ratio when compared to the national debt, which has now soared to 128 percent of U.S. GDP with no end in sight. But Californians carry this $1.6 trillion state and local debt ($40,000 per capita) in addition to their share of the national debt (about $90,000 per capita).

That article was from February of 2022. I suspect the liabilities are now close to $2 trillion.

Cost of Running a McDonalds Jumps $250,000 in CA

On February 4, I noted the Cost of Running a McDonalds Jumps $250,000 in CA Due to Minimum Wage Hikes.

A blowback is underway.

California Restaurants Cut Jobs

On March 26, I commented California Restaurants Cut Jobs as Fast-Food Wages Set to Rise

Proposition 103 Backfires

Citing wildfire risk, State Farm will not renew policies on 30,000 homes and 42,000 business in California.

Also on March 26, I commented Proposition 103 Backfires, State Farm to Cancel 72,000 California Policies

Blame the state, not insurers.

Congratulations to NY, IL, LA, and CA for Losing the Most Population

People in California, increasingly getting sick of the state’s progressive madness, are voting with their feet.

For discussion, please see Congratulations to NY, IL, LA, and CA for Losing the Most Population

Absolute Basis Losers

• New York: -631,104
• California: -573,019
• Illinois: -263,780

California Leads the Nation in Unemployment

The BLS metro shows unemployment rates were up in 218 of 389 metro areas. Nonfarm employment only rose in 59 areas.

On March 15, I noted Unemployment Rates Rose in 218 of the 389 Metropolitan Areas

Unsurprisingly, California has the highest unemployment rate in the nation at 5.7 percent vs. 4.1 percent nationally.

A Booming Economy?

California has massive problems although the stock market is at a record high and the economy is allegedly booming. The next recession will hit California exceptionally hard, and it’s not too far off. 

END

Mass Layoffs Begin At California Fast Food Chains As $20 Minimum Wage Law Takes Effect

TUESDAY, APR 02, 2024 – 09:00 AM

This result shouldn’t surprise anyone.  Inflation has driven up operational costs for businesses across the US and shrunk profit margins for major food chains in the past few years.  This has led to higher menu prices (like the “$18 Big Mac”) and slowing sales for every major fast food company.  Another anchor dragging on the restaurant business in many regions was at least two years of covid stimulus coupled with rent moratoriums, creating aggressive labor shortages and raising wages in upwards of $16 per hour for brand new no-skill employees.

Small chains and mom-and-pop businesses simply can’t compete.  Larger chains raised prices but have also been forced to reduce employees and labor costs through automation, but the layoffs are just getting started. 

Enter California’s “FAST Recovery Act” passed into law in 2022 and going into effect in April of this year – The legislation requires a particular set of food chains dealing in certain kinds of products outlined in the law to raise their minimum wages (already at $16 an hour on average) to $20 an hour.  The income increase is limited to chains that have 60 or more locations in the state of California (meaning, the combined number of locations regardless of who owns them must be higher than 60)  Keep in mind that while many of these chains are associated with international corporations, they are owned and run by franchisees; they are still family run businesses.

Mass layoffs are now a guarantee with many restaurants already firing thousands of workers as well as some chains closing multiple locations because the cost of operation will be higher than the benefits. 

“Restaurants are struggling to stay above water, and Democrats just threw them an anvil,” California Assembly Republican leader James Gallagher told FOX Business. “We warned Democrats this new mandate would cost jobs. They ignored us, and here we are with the highest unemployment rate in the country poised to get even worse.”

The “digital options” that many fast food franchises are referring to are automated ordering systems as well as robot workers which are slowly but surely becoming more cost effective than human laborers.  At least one fast food location in California is testing a fully robotic restaurant with no human worker

Layoffs will accelerate along with the normalization of the technology, and the high wages that are crushing profit margins are making the decision easy for business owners.  Some chains have reported that they will be forced to cut working crews in half; meaning, those working will be paid $4 an hour more, but they’ll have to work twice as hard per shift.  The most probable end result in the next 5 years will be the majority of chain restaurants operating with a tiny crew of humans working alongside increasing automation.   

The political left is already accusing the fast food industry in California of “retaliation” for the wage increase which was negotiated in part with restaurant workers unions involved.  This is what they asked for, and now it’s happening; for every action there is an equal and opposite reaction. 

The problem that is typical among leftists is a lack of understanding when it comes to the basics of business operations.  Profit margins can be thin and money can still be made due to sheer scale, but revenues at that level are often calculated in cents or fractions of a cent per sale.

This kind of business model is beyond the comprehension of the average socialist.  They simply see workers whose wages are not keeping pace with the high cost of living in California and assume business owners are greedy.  Instead of confronting the state government that caused higher prices through extreme regulation and taxation, they want to give that very government even more power to punish businesses that are already under pressure.

Well, get ready for more job losses and get ready for the takeover of fast food robots because these are the only options franchise restaurants have left.  They might be able to force business owners to pay $20 an hour for no-skill labor, but they can’t force those business owners to keep hiring.  

Furthermore, it’s likely that the FAST Act will trigger yet another tsunami of businesses leaving California for other states with less bureaucracy and a less demanding labor market.  Meaning, more jobs for red states and more unemployment for California.    

end

Out of control spending…

(zerohedge)

The Senate Calls Out-Of-Control Spending A National Security Threat, Keeps Spending Anyway…

Authored by Ron Paul via The Ron Paul Institute,

Last month, the US Senate passed a resolution saying the over 34 trillion dollars (and growing) national debt threatens national security.

A few days later, a bipartisan majority of the Senate voted for a 1.2 trillion dollars spending bill. In addition to the usual increases in war and welfare spending, the bill funds gender transitioning for minors without parental consent and red flag laws, which allow law enforcement to seize an individual’s firearms without due process.

Before passage of the latest spending bill, the Congressional Budget Orifice (CBO) released a report predicting that the national debt would exceed the prior record of 106.4 percent of gross domestic product (GDP) by 2028. Interest payments on the national debt are estimated to reach 870 billion dollars this year, more than the government will spend on the military. The CBO estimates that, unless Congress cuts spending (which is highly unlikely), by 2051 interest on the debt will exceed not just military spending but spending on the two biggest items in the federal budget — Social Security and Medicare.

As Eric Boehm of Reason magazine points out, the CBO report understates how much federal spending will grow in the next several decades since it cannot predict what “crises” future congresses and presidents will exploit to ramp up federal spending.

As Boehm suggests, someone projecting 30 years ago how much government would spend in the future would not have included the increase in spending due to 9/11, the subsequent creation of a homeland security-industrial complex, the “forever” wars in Afghanistan and Iraqi, the housing meltdown, or the covid lockdown.

The hypothetical budget projection would also not have predicted legislation like the Medicare prescription drug benefit or Obamacare.

The large and growing interest on the national debt puts pressure on the Federal Reserve to keep interest rates low. The Federal Reserve’s rate increases, though relatively small, are one reason national debt payments rose by 32 percent since last year. The need for the Federal Reserve to keep interest rates low will further erode the dollar’s purchasing power, subjecting more Americans to the insidious inflation tax. It will eventually cause a loss of the dollar’s world reserve currency status. This will result in a major economic meltdown that will likely lead to widespread civil unrest, the further growth of authoritarian movements on both the left and right, and new restrictions on liberty.

The only way out of this is for Congress to begin winding down the welfare-warfare state.

A good place to start is by cutting spending on militarism and forgoing interventionism. Savings from these cuts could be used to ensure those dependent on entitlement and welfare programs are not harmed as Congress winds down these programs. Responsibility for providing support for the truly needy should be returned to local and religious charitable institutions, while responsibility for education should be returned to local communities and parents. Congress should also pass legislation requiring any new spending to be offset by cuts in other federal spending and forbidding the Federal Reserve from purchasing federal debt instruments.

These steps will be opposed by the special interests that benefit from the current system, but they are the only way to ensure the blessings of liberty and prosperity to our posterity.

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

Trump Posts $175 Million, Preventing Seizure Of Buildings In Civil Fraud Case As NY ‘Hush Money’ Case Judge Expands Gag Order

TUESDAY, APR 02, 2024 – 06:30 AM

Authored by Catherine Yang via The Epoch Times,

Former President Donald Trump has posted $175 million in his New York civil fraud case, meeting the 10-day deadline given on March 25 and staying execution of judgment in the case.

The payment prevents any seizure of President Trump’s assets as his appeal of the case is heard.

“As promised, President Trump has posted bond. He looks forward to vindicating his rights on appeal and overturning this unjust verdict,” the president’s attorney Alina Habba said in a statement.

New York Attorney General Letitia James sued the 45th president in 2022, accusing him of inflating his net worth and defrauding insurers and banks, and therefore the public, in Trump Organization annual statements of financial condition.

Eric Trump, Donald Trump Jr., former Trump Organization CFO Allen Weisselberg and comptroller Jeffrey McConney, and several Trump Organization holding companies were named codefendants in the case presided over by New York Supreme Court Justice Arthur Engoron in a three-month bench trial.

The judge ultimately ordered $363 million disgorgement with 9 percent backdated interest, totaling $464 million, with the lion’s share to be paid by President Trump; as well as prohibiting the defendants from holding director positions in any business or legal entity in New York for a period of time, and a minimum three-year monitorship of Trump Organization after which there may be additional penalties.

The posting of the judgment amount was not required in order for President Trump to appeal the case, but had been a requirement to stay enforcement of the judgment in the meantime.

“I’ll fight this all the way up to the U.S. Supreme Court if necessary,” President Trump told Fox News days before the deadline. “They can’t take away your property before you’ve had a chance to appeal the decision of a Trump-hating, incompetent judge who has been overturned more than any judge in the state.”

Days before President Trump posted bond, he said on social media that he had nearly $500 million in cash but intended to use much of it on his presidential campaign. He accused his political opponents of trying to make him spend that cash fund on legal battles rather than on his campaign for president.

‘Impossible’ Bond Lowered

State law would have required President Trump to post the full judgment amount within 30 days in order to stay the execution of judgment, but the appellate court lowered the $454 million requirement to $175 million on the last day of the deadline. It gave him a 10-day window to post the new amount, and did not comment on the underlying reasons for the change.

President Trump said the appellate division’s ruling was further evidence that the original bond requirement was unreasonable.

“This is a confrontation between a Judge and those that rule above him – A very bad situation in which to place New York State and the Rule of Law!” President Trump stated of the appellate decision. “This is the 5th time in this case that he has been overturned, a record. His credibility, and that of Letitia James, has been shattered.”

Justice Engoron, who presided over the bench trial and issued the massive disgorgement figure. The attorney general had asked for $250 million in disgorgement before trial, and changed that number to $370 million near the end of the trial.

President Trump claimed in a press conference that the judge and attorney general had access to his finances because of the monitorship requirement, saw a figure close to $464 million cash, and decided that was what they were going to make him pay. He told reporters he did have the cash necessary to stay judgment, but wanted to use it to campaign and not satisfy who he described as “crooked” officials.

Putting all his cash into an escrow account where neither he nor the state could touch it for the duration of the appeal was one option to stay judgment.

A bond was another, and would not have required President Trump to move his cash reserves, but would have required him to have higher amounts of cash to serve as collateral—$577 million, by his attorneys’ estimates, after negotiations with 30-plus surety companies fell through.

For weeks, defense attorneys argued in the appellate division that securing a $464 million bond was “impossible.” Surety companies just don’t issue bonds that big, they argued.

A second problem was that for them to consider doing so they would have needed 120 percent in cash as collateral plus a high premium or two. This came out to be far more cash than Trump Organization had, as a real estate company.

Attorneys revealed that the only company even willing to consider real estate, or any hard asset, as collateral was Chubb, but after hours of negotiation into the last days of the deadline the company decided it could not accept real estate. After this negotiation failed, the lawyers attached a sworn affidavit from one of the four brokers who had been working on this for the defense to provide more context.

In the bond world, $100 million is large, he said. Only a handful of sureties are even authorized by the federal government to issue higher amounts. But most still have internal policies limiting bonds to $100 million, and when they do issue larger bonds it is only for big publicly traded conglomerates.

To underscore that fact, the attorney general had also listed several cases where bonds larger than President Trump’s were fully bonded on appeal, but they all involved large companies with billions in annual revenue, like Samsung and Apple.

Judge Expands Gag Order Against Trump in NY Hush Money Case

The judge overseeing the Manhattan district attorney’s “hush money” case against former President Donald Trump has approved a request to expand a recently imposed gag order on the president.

The decision came late Monday and gags President Trump from public discussion of family members of the court, the family members of Manhattan District Attorney Alvin Bragg, and all others named in the order, including jurors, potential jurors, witnesses, court staff, counsel, and their families.

The order does not bar comments about the judge himself or Mr. Bragg, an elected Democrat.

“This pattern of attacking family members of presiding jurists and attorneys assigned to his cases serves no legitimate purpose,” New York Supreme Court Justice Juan Merchan wrote in his 5-page ruling. “It merely injects fear in those assigned or called to participate in the proceedings that not only they, but their family members as well, are ‘fair game,’ for Defendant’s vitriol.”

While the judge noted that courts are “understandably concerned” about limiting defendants’ freedom of speech, particularly for public figures, “The circumstances of the instant matter, however, are different,” he wrote. “The conventional ‘David vs. Goliath’ roles are no longer in play as demonstrated by the singular power defendant’s words have on countless others.”

He cited in his ruling arguments from the prosecution that “multiple potential witnesses have already raised grave concerns […] about their own safety and that of their family members should they appear as witnesses against the defendant.” The judge wrote that those fears “undoubtedly interfere” with the proceedings.

“The average observer, must now, after hearing defendant’s recent attacks, draw the conclusion that if they become involved in these proceedings, even tangentially, they should worry not only for themselves, but for their loved ones as well,” he added.

Mr. Bragg had petitioned Justice Merchan earlier in the day to expand the gag order to prevent President Trump from referencing family members of individuals involved in the case. The attorney general’s office highlighted comments from President Trump referencing the judge’s daughter as evidence of why the order was needed.

“Defendant’s dangerous, violent, and reprehensible rhetoric fundamentally threatens the integrity of these proceedings and is intended to intimidate witnesses and trial participants alike—including this Court,” state prosecutor Matthew Colangelo wrote in the court filing.

President Trump had made posts mentioning Justice Merchan’s daughter, Loren Merchan, who owns a Democrat political consulting firm. He did not refer to Ms. Merchan by name.

The former president wrote in one post, “Judge Juan Merchan, a very distinguished looking man, is nevertheless a true and certified Trump Hater who suffers from a very serious case of Trump Derangement Syndrome.

“In other words, he hates me! His daughter is a senior executive at a Super Liberal Democrat firm that works for Adam ‘Shifty’ Schiff, the Democrat National Committee, Senate Majority PAC, and even Crooked Joe Biden.”

In another, he said, “Maybe the Judge is such a hater because his daughter makes money by working to ‘Get Trump.’”

Critics responded by complaining that his posts were attacks on Ms. Merchan and false accusations.

President Trump’s attorneys had pushed back against the request, saying that it would further violate the presumptive Republican nominee’s First Amendment rights. But Judge Merchan ultimately sided with the prosecution.

They are also continuing to seek the recusal of Justice Merchan, citing a conflict of interest, over his daughter’s business, which they say has profited heavily off the prosecution of their client.

Two major Democratic clients of Ms. Merchan raised at least $93 million in political donations in a campaign that mentioned President Trump’s case in their solicitation emails, according to The New York Post.

Justice Merchan declined to recuse himself from the case last August after the defense argued that he was biased for similar reasons, citing that his daughter headed a marketing agency that worked for Democrat candidates, including Vice President Kamala Harris.

The hush money trial is scheduled to start on April 15. It’s the first criminal trial involving the former president. He faces other cases in Washington, Florida, and Georgia.

President Trump faces 91 felony counts in all, and he has denied the allegations and pleaded not guilty to all of the charges. He has said that the cases are politically motivated attempts to harm his 2024 presidential campaign.

END

KING REPORT

The King Report April 2, 2024 Issue 7212

Independent View of the News

Gold soared on Monday.  Gold’s history shows it is a better hedge against geopolitical turmoil, loss of confidence in the Fed, and government malfeasance than inflation.  Gold is soaring on Team Obama-Biden malfeasance, Powell’s cowardice/politicalization of the Fed, and global events that are increasingly perilous.  Sleep tight tonight, The Big Guy and VP Harris are at the controls in this storm! BOJ’s rate hike leaves wide yield gap with U.S., Europe, causes yen to slideLowest-yielding G10 currency’s use for carry trades helps push it to 34-year low: https://t.co/YB8P2IexIf China shares jump, Japan tumbles with yen pinned near intervention zone https://t.co/iX3mqgNY0jJapan’s Nikkei, opens new tab tumbled 1.5% as of the midday recess, weighed down by worries about yen-buying intervention that would hurt exporter profit outlooks and returns for foreign investors.There was also selling on the first day of the nation’s new fiscal year, with the benchmark index still close to the record peak reached just over a week ago, analysts said…https://www.reuters.com/markets/global-markets-wrapup-1-2024-04-01/ Senior Iranian IRGC commander Mohammad Reza Zahedi and his deputy were killed in an Israeli airstrike on the Iranian Embassy in Damascus, Syria. This is a major escalation in what had been a shadow war between Israel and Iran. @sentdefender: Iranian State Media has now Confirmed that in addition to Mohammad-Reza Zahedi and Mohammad-Haji Rahim that Brigadier General Hossein Amirollah, the Chief of the General Staff for IRGC’s Quds Force in Syria and Lebanon was also Killed in the Israeli Airstrike on Damascus, with it now appearing that at least 3 Brigadier Generals were Eliminated in today’s Strike.    Iran’s Ambassador to Syria, Hossein Akbari has stated that the Iranian Response to the Israeli Airstrike today against the Embassy Compound in the City of Damascus will be “Swift, Direct, and Harsh.”   Things in Northern Israel and Southern Lebanon are about to get Hot!    Israel has likely crossed some kind of Iranian “Red Line” as a result of their Strike this morning against the Iranian Embassy in Damascus… @academic_la: Israel assassinated Mohammad Reza Zahedi, Iranian IRGC’s Syria-Lebanon chief. Two F-35s dispensed six missiles at a building in the diplomatic sector of Damascus. This is not just another targeted killing. It matters for a few reasons:   1) Zahedi is the replacement for Suleimani and by far the most important person in organizing Hezbollah and associated Shi’ite militias in the region… This is a blow to Iran since it is hard to find yet another replacement with the skills and contacts Zehadi had.  That is doubly true since his deputy was also killed. In addition, five other senior officials were killed.  2) It shows the vulnerability of the Iranian inner circle. The amount of intelligence needed to carry this out was tremendous. All of Zahedi’s movements are planned out carefully and hidden from view…    Other recent assassinations make this a crisis for Iran. Senior IRGC officer Brig. Gen. Razi Mousavi was killed. Other less prominent but highly important officials in the network arming Hezbollah have been killed in the interim.   3) It is yet another sign that Israeli intelligence is rebuilding its capabilities and prestige after a serious blow on October 7th…    4) This keeps the Iranian network disorganized and paranoid, lowering their ability to threaten Israel. It also shows Iran that they will pay a price for their destabilizing regional policy. There were anti-Netanyahu protests in Israel over the weekend.  One might surmise that the US CIA had a hand in it at the behest of Team Obama-Biden.  If so, Bibi played a trump card yesterday. Israel rocked by largest protests since war began as Netanyahu faces growing pressurehttps://www.cnn.com/2024/04/01/middleeast/israel-protests-netanyahu-intl/index.html Biden administration set to greenlight $18 billion sale of F-15 fighter jets to Israelhttps://www.cnn.com/2024/04/01/politics/biden-administration-f15-fighter-jets-israel/index.html USMs traded mostly negatively during early Nikkei trading.  They broke lower after 20:10 ET.  After hitting a low of 120 2/32 at 21:33 ET, USMs rallied to 120 13/32 at 2 ET.  USMs then went inert until they broke down at 3 ET.  USMs plodded lower until the US cash bond market opened at 8 ET.  USMs then tumbled to 118 14/32 (-2.00) at 12:26 ET.  USMs then traded within a 4-tick range until they fell into a 2-tick range from 14:54 ET until the NYSE close. June Gold hit a high of 2286.40 just after midnight ET.  It then retreated to 2264.10 at 8:10 ET.  Gold then rallied to 2279.00 at 9:20 ET.  June gold then fell to a daily low of 2249.10 at 10:41 ET.  It then bounced to 2264.50 at 12:40 ET and then traded sideways thereafter.  Significantly higher bond yields reduce the attractiveness of gold. Obviously, there was a rotation into gold and out of US debt early on Monday.  This undermines the usual suspects’ braying that the 0.1 better than expected m/m PCE for February means inflation is contained.  As we noted in Monday’s missive, most of the fin media and Street ‘experts’ ignored the fact that January PCE and Core PCE were revised 0.1 higher. Usually when there is geopolitical angst, US Treasuries rally.  US bonds plunging with gold soaring = Confidence in Powell/leftists-dominated Fed and/or the US administration plunging.  ESMs rallied sharply during early Asian trading, hitting a daily high of 5333.50 at 19:43 ET.  Traders were bullish for the Monday Rally and start-of-April buying.  ESMs retreated 8 handles and then traded sideways, within a 5-handle range until they broke lower when the US repo market opened at 7 ET. ESMs turned negative, hitting 5307.75 at 9:27 ET.  A rally on the NYSE opening, due to the usual retail and traders buying, took ESMs to 5317.00 at 9:42 ET.  The dump then occurred; ESMs slid to a new daily low of 5304.50 at 10:04 ET.  After a modest rebound, ESMs fell to a daily low of 5282.25 at noon ET. ESMs then plodded higher in lethargic trading until the late manipulation pushed ESMs 10 handles higher from 15:50 ET until 15:55 ET.  ESMs then fell six handles into the NYSE close. Weighing on bonds & stocks: March ISM Mfg. 50.3 from 47.8, 48.3 expected, Prices Paid 55.8 from 52.5, 53 exp.  New Orders 51.4 from 49.2, 49.8 exp., Employment 47.4 from 45.9, 47.5 exp. @Scutty: SOFR futures have ~50bps of rate cuts priced in H2, the least since late October. ISM services and payrolls are the key events for Fed rate cut pricing in the coming days.  (But gold soared anyway!)https://twitter.com/Scutty/status/1774904899006017913 Positive aspects of previous sessionFangs rallied modestly on safe-haven buyingGasoline declined almost 1 cent Negative aspects of previous sessionBonds got pummeled; Gold and oil rallied; stocks, ex-Mag 7, sank Ambiguous aspects of previous sessionWhat are bonds and gold trying to tell us?Why is gold soaring if the odds of a Fed rate cut are falling? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5245.64Previous session S&P 500 Index High/Low: 5263.95; 5229.20 @Mayhem4Markets: Trump Media plunges more than 25% after company reports net loss of $58 million in 2023 https://t.co/fbu4OZD0mM United Airlines flight makes U-turn, returns to German airport after take-off due to waste-leaking toilet https://trib.al/36k7byX Young Voters Are More Concerned with the Economy. That’s Bad for Biden – BBG    Young voters are more worried about economy than older adults    Trump leads Biden with swing-state voters under age 35 in pollhttps://www.bloomberg.com/news/articles/2024-04-01/election-2024-young-voters-economic-concerns-give-trump-edge-over-biden Democrats spar over registration as worries over young and minority voters grow – WaPoThe rise in Trump support among nonregistered voters has run up against a long-held Democratic policy priority of growing the voter rollshttps://www.washingtonpost.com/politics/2024/04/01/democrats-voter-registration-minorities/ @CortesSteve: Personal savings roll over to the downside. Again. The temporary sugar-high gains of 2020-21 are gone…but the high prices that were created, they remain. The worst combination…https://twitter.com/CortesSteve/status/1774794804402008370 @BSmile: “Lunch Well – and Economically” – 1970 Chicago #Cubs Wrigley Field Concession Menu – Check out those prices! (Hot dog 35 cents; Schiltz beer 60 cents!) https://t.co/aWN7BaCxuQ @dwnews: This Swiss hydrogen-powered train has just chugged its way to a Guinness World Record after traveling nonstop for 2,803 kilometers. https://t.co/LhLVRAhVLN @ViralNewsNYC Monday night: Hezbollah launched a missile at a  civilian area in Israel.  Hezbollah is about to feel some pain. Today – When there are unexpected down Mondays, traders will play for a Turnaround Tuesday to the upside.  Bonds should be a key factor today.  If bonds rally, stocks should follow, and vice versa.  ESUs are -6.50; NQHs are -30.75; USHs are +6/32; June Gold is +15.80 at 20:40 ET. Expected economic data: Feb JOLTS Job Openings 8.775m; Feb Factory Orders 1.0% m/m; Feb Durable Goods 1.4% m/m; March Wards Total Vehicle Sales 15.9m Fed Speakers: Gov. Bowman 10:10 ET, NY Pres Williams 12:00 ET, Cleveland Pres Mester 12:05 ET, SF Pres Daly 13:30 ET S&P Index 50-day MA: 5056; 100-day MA: 4842; 150-day MA: 4677; 200-day MA: 4623DJIA 50-day MA: 38,775; 100-day MA: 37,557; 150-day MA: 36,331, 200-day MA: 35,912(Green is positive slope; Red is negative slope) S&P 500 Index (5243.77) – Trender BBG trading model and MACD for key time framesMonthly: Trender and MACD are positive – a close below 4539.68 triggers a sell signalWeekly: Trender and MACD are positive – a close below 5020.17 triggers a sell signalDaily: Trender and MACD arepositive – a close below 5177.38 triggers a sell signalHourly: Trender is positive; MACD is negative – a close below 5228.95 triggers a sell signal @paulsperry_: Belying Biden blaming his staff, military aides + SS agents witnessed VP Biden packing his own boxes & moving them onto a Georgetown Moving & Storage truck from Naval Observatory–where he stored classified docs–and then moving them off truck into Virginia rental home.      The lawyer who pushed to “60 Minutes” the story Russia is behind the debunked “Havana syndrome” is the same anti-Trump Dem lawyer who repped the “anonymous impeachment whistleblower” Eric Ciaramella. Mark Zaid is now repping anonymous FBI official accusing Russia of attacks. @Jordan_Sather_: 60 Minutes runs a report blaming Russia for the Havana Syndrome EMF attacks on U.S. Diplomats.  Which means Russia wasn’t behind it. Ex-advisor to 6 POTUS @Halsrethink: US government won’t recognize a directed energy weapon (Dew) is being used to harm Americans at home & abroad, as this would acknowledge Russia is at war with US. What is needed is a mutually binding DEW accord. Present US shoulder shrug encourages more Russian DEW attacks. @_StephanieMyers: Biden took questions from the press during the White House Easter Egg Roll and this is how he responded to the backlash after issuing a proclamation on transgender day of visibility on Easter: Q: “Speaker Johnson called it outrageous that Easter Sunday was transgender day of visibility, what do you say to Speaker Johnson?” Biden: “He’s thoroughly uninformed.” Q: “Uninformed how?”Biden: “I didn’t do that.” (Lying, addled, or Obamaites did the deed without telling The Big Guy) President Biden @POTUS Mar 31, 2024 (Easter): Today, we honor César E. Chávez by carrying on the cause to which he dedicated his life:  Championing the dignity and rights of every worker, using nonviolence to fight for justice, and standing with organized labor to build an economy that rewards work and not just wealth.  (Who is telling him to do this?!) @CortesSteve: Democrats always praise César Chávez for his activism in the labor movement. What they don’t tell you about César Chávez is that he was adamantly opposed to illegal immigration because he correctly understood that it punished American workers and lowered their wages… https://t.co/qesBBr3Rbk Ex-Margaret Thatcher aide @NileGardiner: Hard to believe these far-left extremists are in the White House and running the most powerful nation on Earth @RNCResearch: Karine Jean-Pierre says it’s “misinformation” that Biden declared Easter Sunday as “Transgender Day of Visibility.”  (She’s lying) https://t.co/1MrKrGRgzn @tomselliott: Biden: “Say hello to the Oyster Bunnies!”https://twitter.com/tomselliott/status/1774820177701429724 A confused Biden engages the Easter Bunny at White House Easter Egg Roll:https://twitter.com/RNCResearch/status/1774822915722084857 Newsweek: Video of Joe Biden ‘Sniffing’ Baby (at Monday’s annual Easter Egg Roll) Goes Viralhttps://www.newsweek.com/joe-biden-sniffing-baby-video-1885676 @RNCResearch: The Biden campaign is holding a press conference criticizing President Trump for attending the wake of fallen NYPD Detective Jonathan Diller. Not only did Biden not show up (despite being in NYC the same day), he hasn’t even said Det. Diller’s name.https://twitter.com/RNCResearch/status/1774893233786507423 Social Security whistleblower reveals ‘weeks to months’ response time for ‘simple requests’ due to telework abuse under President Biden: Field office worker decries ‘I’m at a loss of what to do to get things moving’ https://t.co/jip2tmOCqJ Here’s The Authoritative List of Lies Joe Biden Has Told as President: 337 and Counting https://t.co/sn4btMjSyU Payback: 90% of illegal immigrants in secret program flown to Florida and TexasSome 347,959 migrants allowed into the secretive system fly directly to airports in Florida and Texas, with Florida receiving the vast majority at 325,995, according to an analysis of U.S. Customs and Border Protection numbers by the Center for Immigration Studies… https://www.washingtonexaminer.com/news/washington-secrets/2947466/payback-90-of-illegal-immigrants-in-secret-program-flown-to-florida-and-texas/ @CollinRugg: Sanctuary City Denver is now openly begging illegal immigrants to leave their city, warning them that they will “suffer.” This is peak liberalism. Denver, a once proud Sanctuary City, has had enough “love and tolerance” and is begging illegals to go to other cities like New York and Chicago.    “The opportunities are over. New York gives you more. Chicago gives you more. So I suggest you go there where there is longer-term shelter. There are also more job opportunities there,” said city official Andres Carrea. Denver, like many other ‘proud’ Sanctuary Cities, has become overwhelmed after getting exactly what they asked for.    “If you stay here, you are going to suffer even more and I don’t want to see this,” Carrea pleaded.After giving his passionate speech and offering to pay for their travel, Carrea asked the crowd who was willing to leave. Everyone decided to stay…

GREG HUNTER

SEE YOU TOMORROW