MARCH 10/GOLD CLOSED DOWN $12.45 TO $2894.20 TRYING TO WITHSTAND THE MASSIVE T.A.S. CONTRACTS INITIATED TRYING TO THWART ITS ADVANCE//SILVER CLOSED DOWN 25 CENTS TO $32.10//PLATINUM CLOSED UP $1.45 TO $963.95 WHILE PALLADIUM CLOSED DOWN $3.20 TO $946.80//IMPORTANT GOLD COMMENTARIES TONIGHT FROM ALASDAIR MACLEOD/TWO IMPORTANT PODCASTS TODAY FROM JIM RICKARDS AND FRIDAY’S ANDREW MAGUIRE//CHINA IS NOW OFFICIALLY DEFLATING AS CPI GOES NEGATIVE//ISRAEL VS HAMAS: HOSTAGE NEGOTIATION IS STILL ONGOING//ISRAEL STOPS SUPPLYING ELECTRICITY TO GAZA//CIVIL WAR ERUPTS IN SYRIA//RUSSIA VS UKRAINE UPDATES//COVID UPDATES/VACCINE INJURY REPORTS/DR PAUL ALEXANDER //MARK CRISPIN MILLER//SLAY NEWS ETC/CANADA GETS A NEW PRIME MINISTER IS MARK CARNEY//USA NEWS//SWAMP STORIES FOR YOU TONIGHT//
118 C MACQUARIE FUT 334 118 H MACQUARIE FUT 75 323 C HSBC 9 363 H WELLS FARGO SEC 224 624 H BOFA SECURITIES 51 657 C MORGAN STANLEY 1 661 C JP MORGAN 21 686 C STONEX FINANCIA 55 49 690 C ABN AMRO 5 880 H CITIGROUP 107 905 C ADM 7
TOTAL: 469 469
JPMORGAN STOPS 21/469 CONTRACTS
GOLD: NUMBER OF NOTICES FILED FOR MARCH/2024. CONTRACT: 469 NOTICES FOR 46,900 OZ 1.458 TONNES
total notices so far: 13,571 contracts for 1,357,100 Oz (42.211 tonnes)
FOR MARCH
XXXXXXXXXXXXXXXXXX
SILVER NOTICES: 63 NOTICE(S) FILED FOR 0.315 MILLION OZ/
total number of notices filed so far this month : 12,997 for 64.985 million oz
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END
GLD/
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD DOWN $12.45 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD:
HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.3TONNES
INVENTORY RESTS AT 894.30 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER DOWN $.25 CENTS AT THE SLV: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.276 MILLION OZ OUT OF THE SLV//
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 435.591 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A SMALL SIZED273 CONTRACTS TO 499,776 AND STALLING ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS SMALL SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR STRONG LOSS OF $0,40 IN SILVER PRICING AT THE COMEX WITH RESPECT TO FRIDAY’S TRADING. WE HAD A STRONG GAIN OF 457 TOTAL CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR LOSS IN PRICE//FRIDAY’S TRADING.. WE HAD CONSIDERABLE LIQUIDATION OF T.A.S. CONTRACTS ON FRIDAY COMEX TRADING / AS THEY DESPERATELY TRIED TO CONTAIN SILVER’S PRICE RISE FOR THE PAST 4 WEEKS (WHERE RAIDS ARE CALLED UPON AGAIN AND AGAIN TRYING TO STOP THE RISE IN SILVER’S PRICE AND TO QUELL ADDITIONAL DERIVATIVE LOSSES TO OUR BANKERS’ MASSIVE TOTALS). THEY SUCCEEDED ON FRIDAY WITH SILVER’S LOSS IN PRICE. WE HAD A CONSIDERABLE T.A.S. LIQUIDATION FRIDAY. BUT THIS WAS COUPLED WITH ANOTHER MEGA HUGE T.A.S. ISSUANCE OF 1033 CONTRACTS ISSUED BY THE CME AND THAT SIGNALS DEEP CODE RED THAT THE CROOKS ARE DESPERATE TO STOP SILVER BREAKING OVER THE 34.00 DOLLAR MARK. THUS OUR RAIDS ON OUR PRECIOUS METALS WILL COMMENCE AGAIN! WE HAVE A HUGE CONTANGO IN SILVER SPOT VS FRONT FEB OF AROUND 95 CENTS AND A LEASE RATE OF 6%. WE HAD A HUGE 730 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR HUGE 1033 CONTRACT T.A.S ISSUANCE WHICH WILL BE USED IN MONDAY.S TRADING/ AS THEY PLAY AN INTEGRAL PART IN OUR COMEX TRADING TRYING TO CONTAIN ANY SILVER PRICE RISE. IN ESSENCE WE GAINED A STRONG 457 CONTRACTS ON OUR TWO EXCHANGES DESPITE OUR LOSS IN PRICE. WE HAD CONSIDERABLE TAS LIQUIDATION THROUGHOUT FRIDAY’S COMEX TRADING SESSION WHICH ACCOUNTS FOR SOME OF THE CONSIDERABLE GAIN IN OI ON OUR TWO EXCHANGES.
PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE OR INITIATE A RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN WITH THIS WEEK’S TRADING ON SILVER AND NOW TODAY TRYING TO KEEP THE SILVER PRICE BELOW $32.50.
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON FRIDAY NIGHT/SATURDAY MORNING: A HUGE 1033 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 NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES
WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.40 BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A STRONG GAIN IN OUR TWO EXCHANGES OF 457 CONTRACTS WE HAD A CONSIDERABLE LIQUIDATION OF T.A.S. CONTRACTS TRYING TO CONTAIN SILVER’S PRICE RISE AND THAT ACCOUNTS OF LOTS OF OUR OPEN INTEREST RISE.
WE HAD A 730 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 78.753 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 0.005 MILLION OZ EXCHANGE FOR PHYSICAL TRANSFER TO LONDON
INITIAL STANDING FOR MARCH REDUCES TO 74..630 MILLION OZ
WE HAD:
/ SMALL COMEX OI LOSS+// A STRONG SIZED EFP ISSUANCE/ VI) HUMONGOUS SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1033 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED 267CONTRACTS.
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS FEB. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF MAR
TOTAL CONTRACTS for 6 DAYS, total 3421 contracts: OR 17.105 MILLION OZ (684 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 17.105 MILLION OZ
LAST 24 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 111.035 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: 161.770 MILLION OZ (THIS MONTH WILL BE A WHOPPER OF ISSUANCE OF EFPS//3RD HIGHEST EVER RECORDED FOR A MONTH)
MAY: 135.995 MILLION OZ //WILL BE A STRONG MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE
JUNE 110.575 MILLION OZ ( WILL BE ANOTHER STRONG MONTH ISSUANCE)
JULY: 108.870 MILLION OZ (WILL BE A STRONG ISSUANCE MONTH/ A TOUCH OVER 100 MILLION OZ/)
AUGUST; 99.740 MILLION OZ//THIS MONTH WILL BE STRONG FOR ISSUANCE BUT LESS THAN JULY.
SEPT: 112.415 MILLION OZ//WILL BE A HUGE MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE
OCT; 97.485 MILLION OZ (WILL BE SMALLER ISSUANCE THIS MONTH )
NOV. 115.970 MILLION OZ ( HUGE THIS MONTH)
DEC: 132.54 MILLION OZ (THIS MONTH WILL BE A HUMDINGER FOR ISSUANCE BUT ISSUANCE SLOWED DRAMATICALLY THESE PAST FIVE DAYS/// WILL NOT EXCEED MARCH 2022 RECORD OF 209 MILLION OZ
YEAR 2024 TOTAL: 1363.84 MILLION OR 1.363 BILLION OZ
JANUARY 2025: 67.230 MILLION OZ///(THIS MONTH’S ISSUANCE OF EXCHANGE FOR PHYSICAL WILL BE SMALL)
FEB. 58.260 MILLION OZ//EXCHANGE FOR PHYSICAL ISSUANCE/FINAL
MARCH: 17.105 MILLION OZ///
XXXXXXXXXXXXXXXXXXXXXXXXXXXX
RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 273 CONTRACTS WITH OUR LOSS IN PRICE OF 40 CENTS IN SILVER PRICING AT THE COMEX// FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A 730 CONTRACT EFP ISSUANCE CONTRACTS: 730 ISSUED FOR MAY AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS. WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR MARCH OF 78.455 MILLION OZ ON FIRST DAY NOTICE, FOLLOWED BY TODAY’S 0.005 MILLION OZ EXCHANGE FOR PHYSICAL TRANSFER TO LONDON//NEW STANDING REDUCES TO 74.630 MILLION OZ
WE HAVE 1). A STRONG SIZED GAIN OF 457 OI CONTRACTS ON THE TWO EXCHANGES DESPITE OUR SMALLISH GAIN IN PRICE// 2.THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUMONGOUS 1033 CONTRACTS TRYING DESPERATELY TO CONTAIN SILVER’S PRICE RISE,//CONSIDERABLE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX SESSION. HOWEVER THEY STILL NEED THESE ISSUANCES FOR REPLENISHMENT FOR FUTURE TRADING //3. ZERO NET LONG SPECULATORS WERE BURNED ON FRIDAY WITH OUR LOSS IN PRICE. ALSO 4. SOME OF OUR LONGS EXERCISED THEIR CONTRACTS AND TENDERED FOR PHYSICAL SILVER MUCH TO THE ANGER OF OUR BANKERS. SILVER IS NOT BASEL III COMPLIANT SO THE BANKERS CAN TAKE THEIR TIME WITH THE DELIVERY OF SILVER.
THE NEW TAS ISSUANCE FRIDAY NIGHT (1033 ) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE AND MOST LIKELY TODAY.
WE HAD 63 NOTICE(S) FILED TODAY FOR 0.315 million OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 6168 OI CONTRACTS TO 499,776 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,105 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. (ALL TIME LOW OF 390,000 CONTRACTS.)
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED A STRONG SIZED 1334 CONTRACTS//
WE HAD A STRONG SIZED INCREASE IN COMEX OI (6168 CONTRACTS) OCCURRED DESPITE OUR LOSS OF $12.00 IN PRICE FRIDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A HUMONGOUS INITIAL STANDING IN GOLD TONNAGE FOR MARCH AT 31.757 TONNES FOLLOWED BY TODAY’S HUGE 46,500 OZ QUEUE JUMP (1.440 TONNES)//NEW STANDING ADVANCES TO 42.846 TONNES
/NEW STANDING FOR MARCH; 42.846 TONNES
/ ALL OF THIS HAPPENED WITH OUR $12.00 LOSS IN PRICE WITH RESPECT TO FRIDAY’S COMEX ///. WE HAD A STRONG SIZED GAIN OF 9293 OI CONTRACTS (28.90 PAPER TONNES) ON OUR TWO EXCHANGES, WITH MANY LONGS, REMAINING AT THE END OF THE DAY, TENDERING FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE, MUCH TO THE ANGER AND HORROR EXHIBITED BY OUR MAJOR BANKER, THE FEDERAL RESERVE BANK OF NEW YORK. THE HORROR INTENSIFIED ONCE LONDON STARTED TO TRADE LAST WEEK, AND THROUGHOUT THE WEEK WITH MAJOR TENDERING FOR PHYSICAL VIA THE EXCHANGE FOR PHYSICAL ROUTE! THE RESULT: A MASSIVE AMOUNT OF GOLD STANDING FOR DELIVERY FOR THE FRONT MARCH CONTRACT MONTH. CENTRAL BANKERS ARE NOW WAITING PATIENTLY FOR THEIR DELIVERY OF GOLD VIA SLOW MOVING SHIPS.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 3125 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 501,160
IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 9293 CONTRACTS WITH 6168 CONTRACTS INCREASED AT THE COMEX// AND A STRONG SIZED 3125 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 9293 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A MEGA MEGA HUGE SIZED AND CRIMINAL 37,872 CONTRACTS ISSUED.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3125 CONTRACTS) ACCOMPANYING THE STRONG SIZED INCREASE IN COMEX OI OF 7552 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 9293 CONTRACTS..WE HAVE 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR MARCH 31.757 TONNES FOLLOWED BY TODAY’S HUGE 1.446 TONNES QUEUE JUMP//NEW STANDING ADVANCES TO 42.846 TONNES
NEW STANDING FOR MARCH ADVANCES TO:
42.846 TONNES
//NEW STANDING MARCH: 42.846 TONNES
.
/ 3) CONSIDERABLE T.A.S. LIQUIDATION TRYING TO LOWER GOLD’S PRICE FRIDAY WITH NO SUCCESS IN REMOVING ANY NET SPECULATOR LONGS, AS WE HAD 1) $12.00 PRICE LOSS AND WE HAD 2) ZERO NET LONG SPECS BEING CLIPPED AS WE HAD A STRONG GAIN OF 9293 CONTRACTS ON OUR TWO EXCHANGES ) ALSO, 3)STICKY GOLD’S LONGS WERE REWARDED FRIDAY EVENING AS THEY EXERCISED EFP’S FROM LONDON TO TAKE DELIVERY OF BADLY NEEDED PHYSICAL AND THUS OUR HUGE TONNAGE STANDING FOR GOLD IN MARCH
4) STRONG SIZED COMEX OPEN INTEREST INCREASE 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///MEGA MEGA HUGE T.A.S. ISSUANCE: 37,872 T.A.S.CONTRACTS//
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2025 INCLUDING TODAY
MAR
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH :
TOTAL EFP CONTRACTS ISSUED: 12,819 CONTRACTS OF 1,281,900 OZ OR 39.872 TONNES IN 6 TRADING DAY(S) AND THUS AVERAGING: 2136 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN6 TRADING DAY(S) IN TONNES 39.872 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2024, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 39.872 DIVIDED BY 3550 x 100% TONNES = 1.14% OF GLOBAL ANNUAL PRODUCTION
SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_
OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)
NOV: 312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP
DEC. 175.62 TONNES//FINAL ISSUANCE//
TOTALS: 2,578.08 TONNES/2021
JAN:2022 247.25 TONNES //FINAL
FEB: 196.04 TONNES//FINAL
MARCH/2022: 409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.
APRIL: 169.55 TONNES (FINAL VERY LOW ISSUANCE MONTH)
MAY: 247.44 TONNES FINAL//
JUNE: 238.13 TONNES FINAL
JULY: 378.43 TONNES FINAL/SECOND HIGHEST ON RECORD
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
2024 AND 2025:
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: 267.05TONNES (WILL BE AN EXTREMELY STRONG MONTH BUT LESS THAN MARCH 2024)
MAY; 316.606 TONNES (WILL BE ANOTHER STRONG MONTH// 3RD HIGHEST RECORDED EFP ISSUANCE )// NOTICE THE HUGE INCREASES IN EX FOR PHYSICAL THESE PAST FEW MONTHS. THESE CONTRACTS ARE CIRCLED BACK FROM LONDON WHEREBY METAL IS REMOVED FROM THE COMEX.
JUNE 175.11 tonnes HEADING FOR A WEAKER MONTH AND MUCH LESS THAN THE THREE PREVIOUS MONTHS
JULY: 351. 65 TONNES (3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL AND THE HIGHEST EVER RECORDED POST BASEL III)
AUGUST: 274.79 TONNES//THIS MONTH WILL NO DOUBT BE A STRONG ISSUANCE OF EFP’S BUT MUCH LESS THAN LAST MONTH.
SEPT: 335 .104 TONNES//IF THIS CONTINUES WE WILL HAVE A HUMDINGER OF AN EFP ISSUANCE. WE WILL PROBABLY END JUST SHORT OF THE 3RD HIGHEST ISSUANCE EVER RECORDED.
OCT. 277.71 TONNES (THIS WILL BE A GOOD ISSUANCE THIS MONTH)
NOV: 393.875 TONNES ( A HUGE MONTH////NOW SURPASSED THE PREVIOUS 3RD AND 2ND HIGHEST EVER RECORDED EX FOR PHYSICAL ISSUANCE TO BECOME THE 2ND HIGHEST EVER RECORDED
DEC 360.03 TONNES THIRD HIGHEST EVER RECORDED FOR EFP ISSUANCE
TOTAL 2024 YEAR. 3,597.846 TONNES
JAN. 2025: 257.919 TONNES (ISSUANCE WILL BE PRETTY GOOD THIS MONTH BUT MUCH LOWER THAN LAST MONTH)
FEB: 207.21 TONNES//EX FOR PHYSICAL ISSUANCE (WILL BE A FAIR SIZED ISSUANCE THIS MONTH)
MARCH 39.872 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 (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A SMALL SIZED 273 CONTRACTS OI TO 151,542 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 7 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 730 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MAY 730 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 730 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 243 CONTRACTS AND ADD TO THE 730 E.FP. ISSUED
WE OBTAIN A STRONG SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 457 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 2.285 MILLION OZ OCCURRED WITH OUR $0.40 LOSS IN PRICE
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS MONDAY MORNING//SUNDAY NIGHT
SHANGHAI CLOSED DOWN 6.38 PTS OR 0.19%
//Hang Seng CLOSED DOWN 447.81 PTS OR 1.85%
// Nikkei CLOSED UP 131.10 OR 0.38%//Australia’s all ordinaries CLOSED UP 0.16%
//Chinese yuan (ONSHORE) CLOSED DOWN TO 7.2591 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2580/ Oil UP TO 67.40 dollars per barrel for WTI and BRENT DOWN TO 70.63 Stocks in Europe OPENED ALL RED
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A STRONG SIZED6168 CONTRACTS TO 499,776 DESPITE OUR LOSS IN PRICE OF $12.00 WITH RESPECT TO FRIDAY’S TRADING/. WE LOST ZERO NET LONGS WITH THAT PRICE GAIN FOR GOLD. BUT AS YOU WILL SEE BELOW, OUR LOSS IN PRICE ALSO HAD A STRONG NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (3125 ).
THE CME ANNOUNCED FRIDAY NIGHT, ZERO EXCHANGE FOR RISK CONTRACTS FOR NIL OZ OR 0 TONNES.
IN FEBRUARY: WE HAD FIVE EXCHANGE FOR RISKS TOTALLING 18.4527 TONNES!. THE RECIPIENT OF THESE EXCHANGE FOR RISK CONTRACTS IS THE BANK OF ENGLAND WHO DESPERATELY WANT THEIR LEASED GOLD BACK. THUS WE HAVE TWO SEPARATE ENTITIES (CENTRAL BANKS) DEMANDING THEIR GOLD BACK:
THE BANK OF ENGLAND
THE FEDERAL RESERVE BANK OF NEW YORK
THE COUNTERPARTY TO THE BANK OF ENGLAND’S EXCHANGE FOR RISK ARE BULLION BANKS THAT CANNOT VERIFY THAT THEIR GOLD IS UNENCUMBERED AND THUS THE BUYER, THE CENTRAL BANK OF ENGLAND, ASSUMES THE RISK OF THAT DELIVERY.
THUS IN TOTAL WE HAD A STRONG SIZED GAIN ON OUR TWO EXCHANGES OF 9293 CONTRACTS DESPITE OUR LOSS IN PRICE. OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON FRIDAY NIGHT AS THEY WERE READY FOR THE FRBNY.S CONTINUED ORCHESTRATED RAID AS THEY TRIED TO ABSORB EVERYTHING IN SIGHT FROM THE DAILY ATTACKS WITH THE CONTINUAL LIQUIDATION OF T.A.S. CONTRACTS. LONDONERS EXERCISED THEIR BOUGHT CONTRACTS FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE AND THANKED THE FRBNY FOR THE THOUGHTFULNESS. LONDON ANNOUNCED LATE (JAN 30) THAT THEY WERE OUT OF GOLD. WRONGLY IT WAS ATTRIBUTED TO THEIR SHIPPING PHYSICAL GOLD TO COMEX FOR STORAGE DUE TO TRUMP’S INITIATION OF TARIFFS. THE TRUTH OF THE MATTER IS THAT THIS GOLD LEFT LONDON TO CENTRAL BANKS, AND COMEX BANKS HAVE BEEN PAPERING THEIR LOSSES (DERIVATIVE) WITH KILOBAR ENTRIES. DELIVERY OF GOLD CONTRACTS ARE NOW TAKING SEVERAL WEEKS. NO DEFAULT HAS BEEN INITIATED AS DEALERS ARE AFRAID OF LOSS OF THEIR JOBS. SO THIS FRAUD CONTINUES. THE LEASE RATES IN LONDON HAVE NOW CLIMBED TO 10% AS GOLD IN LONDON IS NOW EXTREMELY SCARCE. WE CAN NOW SAFELY SAY THAT THERE IS A RUN ON A BANK AND THAT BANK IS THE BANK OF ENGLAND!!!
THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THIS MONTH CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY AND IT SURELY WAS ON DISPLAY TODAY INCLUDING WITH OUR STRONG T.A.S. ISSUANCES AND HUGE T.A.S. LIQUIDATION// FRIDAY // FRIDAY NIGHT THEY ISSUED A MEGA MONSTER 37,872 CONTRACT ANNOUNCEMENT. THE T.A.S. LIQUIDATION IS WHY WE ARE HAVING A LOWER COMEX OPEN INTEREST GAINS BUT THIS IS COUPLED WITH HUGE AMOUNTS OF GOLD STANDING FOR DELIVERY TO CONFUSE THE ISSUE!!!!! AND THIS WAS SURELY ON DISPLAY FRIDAY. YOU WILL PROBABLY SEE 4 MORE MONSTER ISSUANCES OF THESE T.A.S CONTRACTS AS THE BANKERS CALLED FOR RAIDS THIS COMING WEEK ON OUR PRECIOUS METALS.
THE FED IS THE OTHER MAJOR SHORT OF AROUND 16+ TONNES OF GOLD OWING TO THE B.I.S. THE FED NEEDS TO COVER AS THEY ARE VERY WORRIED ABOUT WHAT IS GOING TO HAPPEN TO GOLD PRICES ONCE THE BRICS BEGIN THEIR INITIATIVE AND ABANDON THE US DOLLAR. THIS WAS SCHEDULED TO HAPPEN LATE OCT 2024/(AS OUTLINED IN OUR GOLD PHYSICAL COMMENTARIES//VIEW ANDREW MAGUIRE LATEST LIVE FROM VAULT PODCAST FRIDAY’S 197 , 199, 2001, , 203 , ,205 , 207 209 AND 211 212 AND TODAY 213 AS HE TACKLES THIS IMPORTANT TOPIC). THE FOUR OR FIVE BANKS ARE ALSO WORRIED ABOUT THEIR HUGE PRECIOUS METAL DERIVATIVE EXPOSURE (NORTH OF ONE TRILLION DOLLARS) AND THIS IS PROBABLY THE MAJOR REASON FOR GOLD/SILVER’S RISE THESE PAST TWO MONTHS. THEY ARE TOTALLY TRAPPED., AND THEIR FAILURE TO STOP CENTRAL BANK PURCHASES OF PHYSICAL GOLD IS THE MAJOR ISSUE OF THE DAY!IT SURE LOOKS LIKE THE BIS HAS GIVEN THE FED ITS MARCHING ORDERS TO COVER ITS PHYSICAL GOLD SHORT AS TRUMP CAME INTO OFFICE MONDAY NOON JAN 20. TRUMP WILL PROBABLY BE FURIOUS WITH THE FED IF IT FINDS OUT THAT THEY (FRBNY) HAS BEEN MANIPULATING THE GOLD MARKET FOR THE PAST TWO YEARS.
OUR PHYSICAL LONDONERS BOUGHT NEW MASSIVE QUANTITIES OF LONGS AT ANY PRICE AND THIS GOLD BOUGHT WILL BE TENDERED FOR PHYSICAL ON A T + ???? BASIS. BECAUSE GOLD IS BASEL III COMPLIANT, GOLD IS SUPPOSED BE DELIVERED IN A VERY TIMELY ONE DAY. CENTRAL BANKS AROUND THE WORLD, BEING REPRESENTED BY OUR LONDONERS, ARE THE REAL PURCHASERS OF THIS GOLD.
THE PROBLEM FOR THOSE PROVIDING THE SHORT PAPER IS THE SHOCK TO THEM ON RECEIVING NOTICE THAT THE LONGS WANT THE PHYSICAL GOLD AS THEY TENDER FOR THAT SHINY YELLOW METAL. THE HIGH LIQUIDATION OF OUR TWO SPREADERS: 1) THE MONTH END SPREADERS AND 2. T.A.S DURING THESE PAST FEW WEEKS IS SURELY DISTORTING COMEX OPEN INTEREST BUT THAT DOES NOT STOP LONDON’S ACCUMULATION OF PHYSICAL! YOU CAN ALSO VISUALIZE THAT PERFECTLY WITH THE HUGE AMOUNTS OF QUEUE JUMPING ORCHESTRATED BY CENTRAL BANKERS BOLTING AHEAD OF ORDINARY LONGS AS THEIR NEED FOR PHYSICAL IS GREAT AS THEY SCOUR THE PLANET LOOKING FOR GOLD.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW DEEP INTO THE NON ACTIVE DELIVERY MONTH OF MARCH .… 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 A STRONG SIZED 3125 EFP CONTRACTS WERE ISSUED: : /APRIL 3125 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 3125 CONTRACTS. THESE EFP;S CIRCLE AROUND LONDON ON A 13 DAY BASIS AND ARE NOW USED BY GLOBAL CENTRAL BANKS TO EXERCISE FOR PHYSICAL GOLD WITH THE OBLIGATION TO DELIVER BEING FORCED ONTO COMEX BANKS. THE GOLD GENERALLY DELIVERED COMES FROM LONDON BUT THEY ARE OUT!! THUS COMEX BECOMES THE MAJOR SOURCE FOR OUR CENTRAL BANKERS.
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 10,677 CONTRACTS IN THAT 3125 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A STRONG GAIN OF 6168 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR LOSS IN PRICE OF $12.00 FOR FRIDAY/ COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AT THE COMEX AS MENTIONED ABOVE.
T.A.S. ISSUANCE
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS USUALLY DURING MID MONTH IN THE DELIVERY CYCLE), BUT NOW ON A DAILY BASIS, THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR FRIDAY NIGHT/SATURDAY MORNING WAS A MEGA MONSTER SIZED SIZED 37,872 CONTRACTS, AS AGAIN, ALL OF THE TRADING AND SUPPLY OF CONTRACTS HAVE BEEN ORCHESTRATED BY GOVERNMENT (FEDERAL RESERVE BANK OF NEW YORK). AS PER THEIR MEGA 5 DAY ISSUANCE OF T.A.S OVER 4 WEEKS AGO, THE FED WAS EXPERIMENTING WITH EINSTEIN’S DEFINITION OF INSANITY….TRYING TO DO THE SAME THING OVER AND OVER AGAIN HOPING FOR A DIFFERENT RESULT. HIS DEFINITION STILL STANDS.. THE CROOKS ACCOMPLISHED LITTLE AS FEW LEFT OUR GOLD METAL ARENA. A HUGE RAID WAS ORDERED BY THE FED WITH END OF THE MONTH TRADING ( FEB 25 THROUGH FEB 28) AS THE GOLD PRICE GOT HAMMERED A BIT WITH COMEX OPTIONS EXPIRY AND OTC LONDON OPTIONS EXPIRY. AND NOW ANOTHER 5 DAY MEGA ISSUANCE AND A CORRESPONDING MEGA RAIDS WILL COMMENCE FORTHWITH.
THE RAIDS ON OPTIONS EXPIRY DOES TWO IMPORTANT THINGS FOR OUR CROOKS:
STALLS THE ADVANCE IN PRICE
LOWERS THEIR ADVANCING DERIVATIVE LOSSES.
MECHANICS OF T.A.S CONTRACTS/DECEMBER THROUGH MARCH.
THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS CONTINUE TO SELL OFF THE LONG SIDE OF THE SPREAD (T.A.S.) 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 ORCHESTRATED, ON FEB 25, THEIR HUGE RAID TO LOWER THE PRICE OF GOLD TO MAKE THEIR COMEX BETS WHOLE ON OPTIONS EXPIRY WEEK AND THUS THE NEED FOR CONTINUAL STRONG T.A.S. ISSUANCE AND THEN LIQUIDATION. THIS WAS COUPLED WITH THE LIQUIDATION OF CALENDAR//MONTH END SPREADERS . THE USE OF OUR TWO SPREADER MECHANISMS WERE OF EXTREME IMPORTANCE TO OUR CROOKS IN LATE JANUARY OPTIONS EXPIRY TRADING AND AGAIN WITH FEBRUARY OPTION EXPIRY MONTH. HALF WAY THROUGH THE JANUARY COMEX MONTH, THE CROOKS ISSUED FIVE CONSECUTIVE 30,000+ CONTRACT ISSUANCE OF T.A.S KNOWING THAT THEY WERE GOING TO INITIATE HUGE RAIDS ON OUR METALS. THIS IS THE FIRST TIME WE WILL HAVE TWO CONSECUTIVE MONTHS OF +30,000 T.A.S CONTRACT ISSUANCES!!!
STANDING FOR GOLD FOR THE PAST 4 PLUS YEARS:
// WE HAD A HUGE AMOUNT OF GOLD TONNAGE STANDING: MARCH (41.399 TONNES) WHICH IS HUGE FOR OUR NON ACTIVE MARCH DELIVERY MONTH / FEB HAD THE HIGHEST STANDING FOR GOLD EVER RECORDED FOR ANY MONTH.
YEAR 2025:
JAN 2025: 113.30 TONNES
FEB: 2025: 256.607 TONNES (WHICH INCLUDES 18.4567 TONNES OF EX FOR RISK)
AND NOW MARCH:
STANDING FOR GOLD : 42.846 TONNES WHICH IS EXTREMELY HIGH FOR A NON DELIVERY MONTH.
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 50 MONTHS OF 2021-2024:
DEC 2021: 112.217 TONNES
NOV. 8.074 TONNES
OCT. 57.707 TONNES
SEPT: 11.9160 TONNES
AUGUST: 80.489 TONNES
JULY 7.2814 TONNES
JUNE: 72.289 TONNES
MAY 5.77 TONNES
APRIL 95.331 TONNES
MARCH 30.205 TONNES
FEB ’21. 113.424 TONNES
JAN ’21: 6.500 TONNES.
TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES
YEAR 2022:
JANUARY 2022 17.79 TONNES
FEB 2022: 59.023 TONNES
MARCH: 36.678 TONNES
APRIL: 85.340 TONNES FINAL.
MAY: 20.11 TONNES FINAL
JUNE: 74.933 TONNES FINAL
JULY 29.987 TONNES FINAL
AUGUST:104.979 TONNES//FINAL
SEPT. 38.1158 TONNES
OCT: 77.390 TONNES/ FINAL
NOV 27.110 TONNES/FINAL
Dec. 64.000 tonnes
(TOTAL YEAR 656.076 TONNES)
2023:
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
2024
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 11.9325
JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022
JULY: 11.692 TONNES
AUGUST 69.602 TONNES//FINAL STANDING
SEPT. 13.164 TONNES.
OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK =60.391 TONNES
NOV . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES
DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNES EQUALS 95.1066 TONNES
total year 2024: 540.30 tonnes
2025
January 2025: 70.102 TONNES + 43.208 EXCHANGE FOR RISK= 113.310 TONNES
FEBRUARY:/NEW STANDING ADVANCES TO 238.153TONNES +18.4527 EX FOR RISK
= 256.607 TONNES.
MARCH: 42.846 TONNES
COMEX GOLD TRADING/MARCH CONTRACT MONTH
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $12.00/)/BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY APPRECIABLE NET SPECULATOR LONGS AS WE DID HAVE A STRONG SIZED GAIN IN OUR TWO EXCHANGES. BUT AS EXPLAINED ABOVE WE HAD CONSIDERABLE T.A.S. SPREADER LIQUIDATION FRIDAY AS THEY WERE TRYING TO QUELL GOLD’S RISE AND STOP HUGE COMEX/OTC DERIVATIVE LOSSES FROM ALSO RISING. FEB 24 ENDED COMEX OPTIONS EXPIRY. HOWEVER AS I EXPLAINED ON LAST WEDNESDAY, WE HAD THE MUCH BIGGER OTC.LONDON.OTC EXPIRY.THE BANKERS WERE UNSUCCESSFUL IN SLOWING THEIR DERIVATIVE LOSSES IN PRECIOUS METAL BETS WITH OPTIONS EXPIRY FOR BOTH COMEX AND LONDON OTC!!
LAST NIGHT/MONDAY MORNING
THE CROOKS HOWEVER COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL FRIDAY EVENING/SATURDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD TO ARRIVE BY BOAT. IT IS NOW TAKING SEVERAL WEEKS TO DELIVER AND THUS THE REASON FOR THE HUGE LEASE RATE AT 10% (SCARCITY OF GOLD)
EXCHANGE FOR RISK EXPLANATION/DECEMBER AND JANUARYTRADING
DECEMBER MONTH EXCHANGE FOR RISK!
88 DAYS AGO, FRIDAY NIGHT (EARLY SATURDAY MORNING NOV 30) THE CME ANNOUNCED ANOTHER OF THOSE CRAZY DELIVERIES: THE ISSUANCE OF 250 EXCHANGE FOR RISK CONTRACTS WHICH TOTAL 25000 OZ (.7776 TONNES. HERE THE BUYER ASSUMES THE RISK THAT HE WILL BE DELIVERED UPON IN PHYSICAL METAL. THIS IS ABSOLUTELY INSANE AND A HUGE VIOLATION OF THE TRUE DISCOVERY PRICE MECHANISM WHICH IS THE COMEX MANTRA!. AND THEN GUESS WHAT? THE CME ANNOUNCED ANOTHER EXCHANGE FOR RISK, LATE TUESDAY EVENING/ EARLY WEDNESDAY MORNING, (DEC 5) OF 617 CONTRACTS FOR 61,700 OZ OR GOLD (1.919 TONNES). THEN MUCH TO MY ANGER, THE CME ANNOUNCED A THIRD ISSUANCE FRIDAY NIGHT DEC 7 FOR A MONSTROUS 2254 EXCHANGE FOR RISK CONTRACTS OR 225,400 OZ OR 7.0108 TONNES. NOT TO BE UNDONE, THE CROOKS CONTINUED WITH THEIR NONSENSE WITH ANOTHER 50 CONTRACT EXCHANGE FOR RISK THE MORNING OF DEC 12 FOR 5000 OZ OR .1555 TONNES. AND THIS BRINGS US TO THIS EARLY FRIDAY MORNING (DEC 13) WHERE I WAS SHOCKED TO SEE FOR THE FIFTH TIME THIS MONTH AN ENTRY FOR 250 CONTRACTS OF EXCHANGE FOR RISK FOR 25000 OZ OR .7776 TONNES.THUS ALL FIVE OF THESE ISSUANCES WILL BE ADDED TO THE TOTAL GOLD BEING “DELIVERED UPON”. THIS BRINGS US TO EARLY SATURDAY MORNING DEC 21 WHERE TO MY SHOCK AGAIN WE HAD OUR 6TH ISSUANCE OF EXCHANGE FOR RISK TOTALLING 1300 CONTRACTS FOR AN ASTOUNDING 4.043 TONNES. THIS BRINGS THE TOTAL ISSUANCE FOR THE MONTH OF DEC TO 6 FOR 14.6836 TONNES A NEW RECORD. THE COMEX IS TOTALLY SHATTERED TO PIECES.
EXCHANGE FOR RISK // JANUARY MONTH!!
LO AND BEHOLD, THE CROOKS ISSUED THEIR FIRST ISSUANCE A MONSTER 1700 CONTRACTS FOR EXCHANGE FOR RISK TOTALLING 170,000 OZ OR 5.28775 TONNES ON MONDAY JAN 6/2025. THEN TO MY HORROR, THEY ISSUED THEIR SECOND EXCHANGE FOR RISK ON JAN 8, TOTALLING 150 CONTRACTS FOR 15000 OZ OR .4665 TONNES. THIS TONNAGE WILL BE ADDED TO THE FIRST ISSUANCE. THUS TOTAL EXCHANGE FOR RISK ISSUANCE FOR OUR TWO EARLY JANUARY EX FOR RISK: 5.7533 TONNES. THEN MERCILESSLY THEY CONSUMMATED FOR THE THIRD TIME THIS MONTH 85 EXCHANGE FOR RISK LAST THURSDAY NIGHT (JAN 17) FOR 8500 OZ OR .2649 TONNES OF GOLD. THEN TO MY HORROR THEY ISSUED THEIR 4TH EXCHANGE FOR RISK THIS MONTH (JAN 22) FOR A MONSTER 5000 CONTRACTS OR 5,000,000 OZ.(15.562 TONNES).NOT TO BE UNDONE, THE CROOKS ISSUED THEIR FIFTH EXCHANGE FOR RISK LAST NIGHT FOR 500 CONTRACTS REPRESENTING 50,,000 OZ OR 1.555 TONNES OF GOLD. REMEMBER THAT THE BUYER ASSUMES THE RISK THAT HE WILL BE DELIVERED UPON WHICH IS TOTALLY ASININE!! THUS FOR THE 5 EXCHANGE FOR RISK ISSUED THIS MONTH TOTALS 23.134 TONNES OF GOLD. THIS BRINGS US TO , JAN 25 WHERE THE CME ANNOUNCED ITS SIXTH MAJOR EXCHANGE FOR RISK ISSUANCE OF 6454 CONTRACTS FOR 645,400 OZ OR 20.074 TONNES OF GOLD. THIS IS THE HIGHEST EVER RECORDED ISSUANCE IN NUMBER OF EXCHANGE FOR RISK, AT 6, AND FOR NEW TOTALS FOR THE MONTH OF JANUARY: 43.208 TONNES!!! AND A NEW RECORD FOR ISSUANCE.
EXCHANGE FOR RISK CONTRACTS/MONTH FOR FEBRUARY:
THE CME ANNOUNCED TO THE WORLD THAT ON FEB 4 THEY ISSUED 100 CONTRACTS OF EXCHANGE FOR RISK TO THE BANK OF ENGLAND.THEN A FEW NIGHTS AGO, THEY ISSUED THEIR SECOND CONSECUTIVE EXCHANGE FOR RISK OF 500 CONTRACTS FOR 50,000 OZ (1.555 TONNES OF GOLD. FEB 6 WAS THE THIRD ISSUANCE FOR A HUGE 2400 CONTRACTS, 240,000 OZ OR 7.465 TONNES. AND THEN FINALLY FRIDAY NIGHT, THE 4TH EXCHANGE FOR RISK WAS ISSUED REPRESENTED BY 2834 CONTRACTS OR 283400 OZ OR 8.8149 TONNES OF GOLD WITH THE OWNER OF THOSE CONTRACTS BEING THE BANK OF ENGLAND. THE BANK OF ENGLAND WANTS THEIR GOLD BACK. THIS NEW EXCHANGE FOR RISK WILL BE ADDED TO PREVIOUS EXCHANGE FOR RISK OF 9.3264 TONNES TO A NEW TOTAL EXCHANGE FOR RISK = 18.1413 TONNES. IN MID WEEK WE HAD ANOTHER .3114 TONNES OF EXCHANGE FOR RISK ISSUANCED//NEW TOTAL 18,4527 TONNES!..FINALLY THIS TOTAL WILL NOW BE ADDED TO OUR REGULAR DELIVERIES THROUGH THE MONTH. FOR FRIDAY FEB 28 ZERO EXCHANGE FOR RISK WAS ISSUED.
TOTAL INITIAL DELIVERIES MARCH GOLD TRADING
MARCH: 41.399 TONNES
WE HAVE GAINED A STRONG SIZED TOTAL OF 28.90 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR MARCH (31.753TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 46,500 OZ OR 1.446 TONNES: NEW TOTAL STANDING 42.846 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $12.00
WE HAD 1384 CONTRACTS REMOVED FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL
NET GAIN ON THE TWO EXCHANGES 9293 CONTRACTS OR 929,300 0Z (28.90 TONNES)
i) Into Dealer Int. Delaware 96,453.000 3,000 kilobars
total weight 3.0 tonnes
Deposits to the Customer Inventory, in oz
2 ENTRIES
i) INTO ASHAI 32,021.126 OZ (996 KILOBARS)
II) INTO HSBC 85,200.15 OZ (2650 KILOBARS) TOTAL WEIGHT: 213,674.276 OZ 3.646 TONNES
total weight deposit dealer and customer;; 6.646 tonnes
No of oz served (contracts) today
469 notice(s) 46,900 OZ 1.458 TONNES
No of oz to be served (notices)
204 contracts 20400 OZ 0.6341 TONNES
Total monthly oz gold served (contracts) so far this month
13,571 notices 1,357,100 oz 42.211 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month
dealer deposits: 1
1 ENTRIES
i) Into Dealer Int. Delaware 96,453.000 3,000 kilobars
total weight 3.0 tonnes
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we have 2 customer deposits:
2 ENTRIES
i) INTO ASHAI 32,021.126 OZ (996 KILOBARS)
II) INTO HSBC 85,200.15 OZ (2650 KILOBARS) TOTAL WEIGHT: 213,674.276 OZ 3.646 TONNES
total weight deposit dealer and customer;; 6.646 tonnes
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
withdrawals: 1
1 entries
i) Loomis: 32151.000 oz 1000 kilobars
1 tonnes
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adjustments:1/comex is in chaos
a) dealer to customer Brinks 128,282.490 oz oz
thus basically what comes into eligible is transferred to dealer accounts and then out.
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR MARCH
THE FRONT MONTH OF MARCH HAD A LOSS OF 139 CONTRACTS TO STAND AT 673. WE HAD 604 CONTRACTS SERVED ON THURSDAY SO WE GAINED A HUGE 465 CONTRACTS FOR 46,500 OZ (1.446 TONNES AS A PHYSICAL GOLD QUEUE JUMP. THIS IS CENTRAL BANKS LOOKING FOR BADLY NEEDED GOLD.
APRIL HAD A LOSS OF 13,620 CONTRACTS DOWNTO 315,761 CONTRACTS AS THIS MONTH BECOMES THE FRONT MONTH. APRIL IS QUITE LOFTY AND NO DOUBT WE WILL HAVE A HUMONGOUS AMOUNT OF GOLD STANDING
MAY GAINED 39 CONTRACTS UP TO 343.
We had 469 contracts filed for today representing 46,900oz
This is a huge major assault on the comex for gold and this time it is physical that will be requested.
Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices issued from their client or customer account. The total of all issuance by all participants equate to 469 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 21 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for MARCH /2025. contract month, we take the total number of notices filed so far for the month (13,571 X 100 oz ) to which we add the difference between the open interest for the front month of MARCH.(673 CONTRACTS) minus the number of notices served upon today (469 x 100 oz per contract) equals 1,377,500 OZ OR 42.846 TONNES
thus the INITIAL standings for gold for the MARCH contract month: No of notices filed so far (13,571x 100 oz +we add the difference for front month of MARCH (673 OI} minus the number of notices served upon today (469 x 100 oz) which equals 1,377,500 OR 42.846 TONNES
TOTAL COMEX GOLD STANDING FOR MARCH.: 42.846 TONNES WHICH IS HUGE FOR THIS NON ACTIVE ACTIVE DELIVERY MONTH IN THE CALENDAR. FEBRUARY HAD THE HIGHEST DELIVERY FOR ANY MONTH AND MARCH IS FOLLOWING SUIT..
JPMorgan has a total silver weight: 171.034million oz/430.275 oz million or 39.30%
TOTAL REGISTERED SILVER: 145.318 MILLION OZ//.TOTAL REG + ELIGIBLE. 424.898Million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR FEBRUARY
silver open interest data:
FRONT MONTH OF MARCH /2025 OI: 1992 OPEN INTEREST CONTRACTS FOR A LOSS OF 480 CONTRACTS.WE HAD 479 CONTRACTS SERVED ON FRIDAY SO WE LOST 1 CONTRACT OR 0.005 MILLION COMEX OZ STANDING UNDERWENT A. EFP TRANSFER TO LONDON LOOKING FOR METAL OVER ON THAT SIDE OF THE POND/WE HAVE NOW HAD FIVE OUT OF THE LAST 6 DAYS OF EFP TRANSFERS.
APRIL SAW ANOTHER GAIN OF 199 CONTRACTS TO STAND AT 1737
MAY SAW A LOSS OF 534 CONTRACTS DOWN TO 116,795 CONTRACTS
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 63 or 0.315 MILLION oz
CONFIRMED volume; ON FRIDAY 151,275 small//
AND NOW MARCH DELIVERIES:
To calculate the number of silver ounces that will stand for delivery in MARCH. we take the total number of notices filed for the month so far at 12,997 X5,000 oz = 64.985 MILLION oz
to which we add the difference between the open interest for the front month of MAR (1992) AND the number of notices served upon today (63 )x (5000 oz)
Thus the standings for silver for the MARCH 2025 contract month: 12,997 Notices served so far) x 5000 oz + OI for the front month of MAR(1992) minus number of notices served upon today (63)x 5000 oz equals silver standing for the MARCH contract month equating to 74.630 MILLION OZ.
New total standing: 74.630 million oz which is huge for this very active delivery month of March.
We must also keep in mind that there is considerable silver standing in London coming from our longs in New York that underwent EFP transfers.
There are 142.129million 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.
Now that we have surpassed $28.40 the next big line in the sand for silver is $34.76. After that the moon
0 the next big line in the sand for silver is $34.76. After that the moon
END
BOTH GLD AND SLV ARE MASSIVE FRAUDS!
GLD AND SLV INVENTORY LEVELS/
MARCH 10 WITH GOLD DOWN $12.45 TODAY HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 4.30 TONNES TONNES OUT OF THE GLD ///INVENTORY RESTS AT 894.317 TONNES
MARCH 7 WITH GOLD DOWN $12.00 TODAY HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.72 TONNES TONNES OUT OF THE GLD ///INVENTORY RESTS AT 898.64 TONNES
MARCH 6 WITH GOLD UP $2.10 TODAY HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.44 TONNES TONNES OUT OF THE GLD ///INVENTORY RESTS AT 900.30 TONNES
MARCH 5 WITH GOLD UP $6.75 TODAY HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 0.87 TONNES INTO THE GLD ///INVENTORY RESTS AT 901.80 TONNES
MARCH 4 WITH GOLD UP $19.05 TODAY HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 3.45 TONNES INTO THE GLD ///INVENTORY RESTS AT 900.93 TONNES
MARCH 3 WITH GOLD UP $50.70 TODAY HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 1.72 TONNES INTO THE GLD ///INVENTORY RESTS AT 904.38 TONNES
FEB 28 WITH GOLD DOWN $44.70 TODAY HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 1.72 TONNES INTO THE GLD ///INVENTORY RESTS AT 904.38 TONNES
FEB 26 WITH GOLD DOWN $40,85 TODAY HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 3.45 TONNES INTO THE GLD ///INVENTORY RESTS AT 907.83 TONNES
FEB 25 WITH GOLD DOWN $40,85 TODAY HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 3.45 TONNES INTO THE GLD ///INVENTORY RESTS AT 907.83 TONNES
FEB 24 WITH GOLD UP 7,65 TODAY HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 20.66 TONNES FROM THE GLD ///INVENTORY RESTS AT 904.38TONNES
FEB 21 WITH GOLD DOWN $1.35 TODAY HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 5.77ONNES FROM THE GLD ///INVENTORY RESTS AT 883.72TONNES
FEB 20 WITH GOLD DOWN $10.40 TODAY HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 8.51TONNES FROM THE GLD ///INVENTORY RESTS AT 877,95TONNES
FEB 19/ WITH GOLD DOWN $10.40 TODAY HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 6.38TONNES FROM THE GLD ///INVENTORY RESTS AT 869.44TONNES
FEB 18/ WITH GOLD UP $43.00 TODAY HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.14TONNES FROM THE GLD ///INVENTORY RESTS AT 863.06TONNES
FEB 13/ WITH GOLD UP 11.00 TODAY HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 6.901 TONNES FROM THE GLD ///INVENTORY RESTS AT 866.50TONNES
FEB 12 WITH GOLD DOWN $3,40ON THE DAY; NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 864.19 TONNES
FEB 10 WITH GOLD UP $10.75 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 864.19 TONNES
FEB 7 WITH GOLD UP $10.75 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 864.19 TONNES
FEB 6 WITH GOLD DOWN $18.15 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 1.14 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 864.19 TONNES
FEB 5 WITH GOLD UP $27.10 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.72 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 863.05 TONNES
FEB 4 WITH GOLD UP $25.00 ON THE DAY; SMALL CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 0.58 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 864.77 TONNES
JAN 31 WITH GOLD UP $4.80 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.15 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 864.19 TONNES
JAN 30 WITH GOLD UP $40.95 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 4.30 TONNES OF GOLD INTO THE THE GLD ///INVENTORY RESTS AT 865.34 TONNES
JAN 29 WITH GOLD DOWN $6.25 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 4.02 TONNES OF GOLD INTO THE THE GLD ///INVENTORY RESTS AT 861.04 TONNES
JAN 28 WITH GOLD UP $23.05 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 3.16 TONNES OF GOLD OUT OF THE GLD //
JAN 27 WITH GOLD DOWN $36.05 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 5.17 TONNES OF GOLD OUT OF THE GLD ///
JAN 24 WITH GOLD UP $16.00 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 5.17 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 864.19 TONNES
JAN 23 WITH GOLD DOWN $1.00 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 2.30 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 869.36 TONNES
JAN 22 WITH GOLD UP $15.15 ON THE DAY; MEGA HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 7.46 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 871.66 TONNES
JAN 20 WITH GOLD UP $35.30 ON THE DAY; MEGA HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 10.34 TONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 879.12 TONNES
GLD INVENTORY: 898.64 TONNES, TONIGHTS TOTAL
SILVER
MARCH 10 WITH SILVER DOWN 25 CENTS/HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.276 MILLION OZ INTO THE THE SLV. //INVENTORY AT SLV RESTS AT 435.591 MILLION
MARCH 7 WITH SILVER DOWN 40 CENTS/HUGL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.184 MILLION OZ OUT OF THE SLV. //INVENTORY AT SLV RESTS AT 434.317 MILLION
MARCH 6 WITH SILVER UP 16 CENTS//SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.455 MILLION OZ OUT OF THE SLV. //INVENTORY AT SLV RESTS AT 436.046 MILLION
MARCH 5 WITH SILVER UP 82 CENTS//SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 0.172 MILLION OZ OUT OF THE SLV. //INVENTORY AT SLV RESTS AT 436.501 MILLION OZ
MARCH 4 WITH SILVER UP 9 CENTS//SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.82 MILLION OZ INTO THE SLV. //INVENTORY AT SLV RESTS AT 436.673 MILLION OZ
MARCH 3 WITH SILVER UP $0.78//SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.819 MILLION OZ INTO THE SLV. //INVENTORY AT SLV RESTS AT 438.493 MILLION OZ
FEB 28 WITH SILVER DOWN 0.56//SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.819 MILLION OZ INTO THE SLV. //INVENTORY AT SLV RESTS AT 438.493 MILLION OZ
FEB 26 WITH SILVER DOWN $0.90//HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 6,245 MILLION OZ INTO THE SLV. //INVENTORY AT SLV RESTS AT 441.4061MILLION OZ
FEB 25 WITH SILVER DOWN $0.90//HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 6,245 MILLION OZ INTO THE SLV. //INVENTORY AT SLV RESTS AT 441.4061MILLION OZ
FEB 24WITH SILVER DOWN $0.15//NO CHANGES IN SILVER INVENTORY AT THE SLV. //INVENTORY AT SLV RESTS AT 435.171MILLION OZ
FEB 21WITH SILVER DOWN $0.40//HUGE CHANGES IN SILVER INVENTORY AT THE SLV : HUGE CHANGES AT THE SLV A WITHDRAWAL OF 0.456MILLION OZ/. //INVENTORY AT SLV RESTS AT 435,171MILLION OZ
FEB 20WITH SILVER UP $0.29//HUGE CHANGES IN SILVER INVENTORY AT THE SLV : HUGE CHANGES AT THE SLV A WITHDRAWAL OF 1.547 MILLION OZ/. //INVENTORY AT SLV RESTS AT 435,171MILLION OZ
FEB 19WITH SILVER DOWN $0.16//HUGE CHANGES IN SILVER INVENTORY AT THE SLV : HUGE CHANGES AT THE SLV A WITHDRAWAL OF 2.276 MILLION OZ/. //INVENTORY AT SLV RESTS AT 436.717MILLION OZ
FEB 18WITH SILVER UP $.56//HUGE CHANGES IN SILVER INVENTORY AT THE SLV : NO CHANGES AT THE SLX/. //INVENTORY AT SLV RESTS AT 438.994MILLION OZ
FEB 14WITH SILVER UP $.01//HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A DEPOSIT OF 1.593 MILLION OZ INTO THE SLV./. //INVENTORY AT SLV RESTS AT 437.401 MILLION OZ
FEB 12WITH SILVER UP $.01 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A DEPOSIT OF 8 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 437.401 MILLION OZ
FEB 10 WITH SILVER DOWN $0.26 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A WITHDRAWAL OF 1.73 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 428.66 MILLION OZ
FEB 7 WITH SILVER DOWN $0.26 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A WITHDRAWAL OF 1.73 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 428.66 MILLION OZ
FEB 6 WITH SILVER DOWN $0.17 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 12.383 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 430.39 MILLION OZ
FEB 5 WITH SILVER UP $0.45 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 3.285 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 442.773 MILLION OZ
FEB 4 WITH SILVER UP $0.81 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 2.550 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 446.331 MILLION OZ
FEB 4 WITH SILVER UP $0.81 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 2.550 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 446.331 MILLION OZ
FEB 3 WITH SILVER UP ONE CENT //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 2.550 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 446.331 MILLION OZ
JAN 31 WITH SILVER DOWN $0.19 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 2.369 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 448.881 MILLION OZ
jAN 30 WITH SILVER UP $0.76 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 2.003 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 451.249 MILLION OZ
jAN 29 WITH SILVER UP $0.34 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 1.639 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 453.252 MILLION OZ
jAN 28 WITH SILVER UP $0.34 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 1.821 MILLION OZ OUT OF THE SLV./. /
jAN 27 WITH SILVER DOWN $.61 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 1.64 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 457.395 MILLION OZ
JAN 24 WITH SILVER DOWN $.21 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 1.64 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 457.395 MILLION OZ
JAN 23 WITH SILVER DOWN $.41 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 4.738 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 459.035 MILLION OZ
JAN 22 WITH SILVER UP $.08 //SMALL CHANGES IN SILVER INVENTORY AT THE SLV : A DEPOSIT OF 0.721 MILLION OZ INTO THE SLV./. //INVENTORY AT SLV RESTS AT 464.043 MILLION OZ
JAN 20 WITH SILVER DOWN $.09 //NO CHANGES IN SILVER INVENTORY AT THE SLV : A WITHDRAWAL OF 1.568 MILLION OZ FROM THE SLV./. //INVENTORY AT SLV RESTS AT 463.315 MILLION OZ
CLOSING INVENTORY 435.591 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY
2/ Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
Investors believe that central banks will always manage the financial system and act as lenders of last resort. This article explains why they will almost certainly fail.
It is some time since I wrote about the consequences of quantitative easing, and how it led to massive losses for central banks, enough to wipe out their own capital many times over. The Bank of Japan is in the worst position, having started QE in 2000 and now owning 60% of its government debt. The rise in bond yields has created massive losses. But so far, no one seems to care. The chart below shows how this problem is mounting for the Bank of Japan:
That people no longer care about central bank finances will almost certainly change. Signs of a private sector recession can no longer be ignored or covered up by excess government spending. Bank credit is being withheld from commercial enterprises, and tariff wars are just beginning. Government finances are deteriorating, inevitably leading to higher bond yields and pressure for further QE. Perhaps current complacency over central bank finances will shortly become an urgent topic for public debate.
Setting the scene
The current credit bubble is a doppelganger for 1929—1932: the Wall Street Crash followed by the depression. Before the crash, the Roaring Twenties had been fuelled by the Fed’s expansion of credit under Chairman Benjamin Strong. What followed in late-1929 was the bursting of that credit bubble. Also in 1929, the House of Representatives passed the Smoot-Hawley Tariff Act, which was finally signed into law by President Hoover in 1930.
Wall Street crashed, and 9,000 banks went bust.
Does this ring any alarm bells today? Evidenced by record levels of debt, we now have the biggest credit bubble in history. President Trump is implementing Smoot-Hawley Mark 2, which will inevitably lead to other nations retaliating with their tariffs —just as they did in 1930.
Besides the enormity of today’s bubble, there are some additional factors making things worse. A more important factor than in 1929, international trade now depends on complex supply chains and logistics: the economic consequences of their sudden cessation are unimaginable. Furthermore, adjusted for record levels of government budget deficits, private sector GDPs are already contracting, and some have already stalled (i.e. Germany) in recent years. That matters, because it’s the private sector which provides the government with its revenue.
Clearly, this massive credit bubble is fit to burst, because private sector credit being the other side of debt will not increase in the face of a private sector deterioration. Bankers and investors do not advance further credit in these conditions.
Some would argue that this is a problem exaggerated because increased government spending will stimulate growth. But governments are already tapped out and face debt traps of their own. Either borrowing costs must rise, or currencies will collapse — or most probably both.
There is a general assumption that in this event central banks will always come to the rescue, but they are hardly positioned to do so. The Fed, the Bank of Japan, and the ECB and its shareholding national central banks are deeply in negative equity as a result of QE. The Bank of England has a UK Treasury guarantee underwriting its losses, so it is in a slightly different position.
Two years ago, the Bank for International Settlements published a paper on this topic.[i] It tried to establish the point at which a central bank’s negative equity would lead to its failure. And if a central bank fails, its currency fails with it.
As its model, the BIS used the relationship between the Bank of Amsterdam, a private sector but proto-central bank, and the Dutch East India Company (DEIC) which was founded in 1602. Acting on its own behalf and those of merchant counterparties, the DEIC “sent nearly 5,000 ships between Europe and Asia in 17th and 18th centuries”.
The DEIC, its shareholders, and associated merchants increasingly dominated the Bank’s activities. War with Britain, particularly the fourth in 1780—84 led to losses for the DEIC leading to increasing demand for non-productive credit from the Bank by the DEIC and all the other parties involved. The Bank was already operating with negative equity which escalated sharply as bad debts mounted and the Bank decided to “start granting even larger overdrafts to the DEIC”. But with ships and their cargoes being sunk by the British navy the slump in the DEIC’s trade continued.
The BIS paper used the Bank of Amsterdam as an example of a proto-central bank, operating with increasing negative equity and which eventually failed. It tried to establish what the tipping point was. My approach with today’s central bank finances is similar, focusing on the relationship between central banks and their dominating interests which are the governments they represent as currency and debt issuers. In this sense, the Bank of Amsterdam’s dependency on one customer, the customer’s shareholders and dependent merchants is instructive.
Today, central banks are similarly dependent on a government customer, usually its sole shareholder, for their existence. In most cases, they remit all income generated to that one customer, retaining little or nothing for operational purposes. There has been no accumulation of shareholders’ funds to augment their own capital. They are, for all intents and purposes a government department, so-called independent but not in reality.
To most observers, the idea that a central bank can go bust is nonsensical. It can “print” its way out of insolvency. And ultimately, they have the fiscal backing of their government. But what happens if the government has difficulty backing its central bank? What if the government like the DEIC itself gets into difficulties?
That difficulty arises if the government’s own finances are in a debt trap. The classic definition of a government debt trap is when its debt liabilities increase at a faster pace than its national GDP, because it is the increase in GDP that yields its revenues.
We should amend that to take government budget deficits out of the GDP calculation, being wholly unproductive. Furthermore, if private sector GDP contracts, revenues contract and welfare expenses increase rapidly. That is a good description for the cliff-edge of the current US Government’s position and therefore ultimately for its backing for the Fed.
US debt to GDP is currently estimated at 125%. Despite the efforts of Elon Musk’s DOGE, annual deficits will increase sharply due to the private sector’s recession, likely to intensify further on the back of Smoot-Hawley Mark 2. The collapse of the largest credit bubble in history combined with President Trump’s determination to replace income and corporation taxes with tariff income is set to make 1929—1932 look like mild turbulence in comparison.
Other central banks are reading the runes
The combination of ultra-high debt, inflated assets, and government debt traps are a feature of the advanced but declining welfare-driven economies of America, Europe, and Japan. Elsewhere, the debt-credit problem is less acute, with some exceptions. Central banks and their governments, notably in Asia have been selling down their currency reserves in the major currencies in favour of gold.
We are too ready to dismiss central bankers for their policy failures. But privately, their understanding of the flaws in US, EU, UK, and Japan’s government finances should not be underestimated. Deep thinkers in Russia sussed this weakness out some time ago. And when SWIFT was closed down to Russia Putin was quick to make sure everyone else understood it as well. It is now an open secret at these high levels that western financial markets, their government finances, and their currencies are failing. Furthermore, they know that the answer is to get out of these currencies and into gold sooner rather than later.
The cat is out of the bag. An understanding that it is not so much gold rising, but the major fiat currencies failing is now spreading from foreign central banks and their government wealth fund managers to their wider financial interests. It is even beginning to trickle down to our own institutions and investors, evidenced by this chart of ETF net demand provided by the World Gold Council.
This is the gathering momentum behind any price rise. In gold’s case it also represents a deteriorating outlook for credit and the prospective failure of the entire dollar-based fiat currency system, as the major central banks meet the same fate as the Bank of Amsterdam.
[i] BIS Working Paper No 1065: The Bank of Amsterdam and the limits of fiat money January 2023
3 CHRIS POWELL AND GATA DISPATCHES
Chris Powell…
Jim Rickards: If you ask about gold leasing you’re ‘tampering with the primal forces’
Submitted by admin on Sat, 2025-03-08 22:34 Section: Daily Dispatches
10:42p ET Saturday, March 8, 2025
Dear Friend of GATA and Gold:
Market analyst and author James G. Rickards this week schooled ITM Trading’s Daniela Cambone about the gold depository at Fort Knox.
A visit to Fort Knox by President Trump and his adviser Elon Musk would be, Rickards says, “the mother of all photo ops,” but the gold is still there, even if all of it isn’t of the highest purity.
The bigger question, Rickards says, is whether the gold is leased or rehypothecated. That is, “You can have a hundred tonnes of paper gold transactions supported by one physical tonne that got leased by the Treasury to JPMorganChase.”
While Rickards says he would suggest posing the leasing question during a tour of Fort Knox, if you ask the leasing question, “you’re tampering with the primal forces.”
He elaborates, quoting the former head of the JPMorganChase commodity desk, Blythe Masters, as having said, “Gold never settles.” That is, gold trading long has been just a lot of paper trading, and if it was ever more than that — if, instead, delivery of real metal was commonly demanded — “the price would explode.”
With delivery apparently being demanded more often lately by central banks and others, the gold price indeed has been rising fast.
Of course for many years GATA has shared Rickards’ analysis of gold leasing as a key element of Western gold price suppression policy. Seven years ago Rickards kindly gave GATA permission to reprint the section of his book, “The New Case for Gold,” that explains how gold leasing has been used to manipulate the gold price:
Such analysis of gold price suppression could not be publicized during Cambone’s long tenure doing softball interviews for the Kitco internet site. But now, apparently, the gold leasing racket is understood widely enough that it can start to be discussed in polite company. Cambone seems to endorse Rickards’ comments about gold leasing as if she knew what was going on all along.
Well, maybe she did but just wasn’t permitted to share that knowledge with her audience, and flash! Now it can be told! Better late than never.
Rickards’ remarks to Cambone about gold leasing deserve the widest audience and can be heard at YouTube here:
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
END
BIS gold swaps remained extremely low in February
Submitted by admin on Sat, 2025-03-08 11:52 Section: Daily Dispatches
12:02p ET Saturday, March 8, 2025
Dear Friend of GATA and Gold:
Gold swaps undertaken by the Bank for International Settlements remained extremely low in February, according to GATA consultant Robert Lambourne, who deciphers the bank’s monthly statements of account to make plain what the bank refuses to do except in its annual report.
Lambourne writes that the bank’s February statement, published this week —
— indicates that the BIS’ gold swaps rose 6 tonnes, from 16 tonnes in January, to 22 tonnes in February. The bank’s gold swaps stood at 78 tonnes at the end of 2024. The bank’s gold swaps were above 500 tonnes at the beginning of 2022 and have fallen gradually but fairly steadily since then
Since the BIS is exclusively an association of central banks, the swaps are a measure of their largely surreptitious intervention in the gold market, intervention that has been happening for decades but has been dutifully ignored by mainstream financial news organizations and the so-called World Gold Council, lest the world discover that the free markets preached to the world by Western nations are actually heavily rigged against the developing world.
In 2005 the head of the BIS’ monetary and economic department, William R. White, told a conference at the bank’s headquarters in Basel, Switzerland, that a primary purpose of international central bank cooperation is “the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful”:
The near-elimination of BIS gold swaps implies a change of policy among many central banks and the BIS itself regarding gold price suppression, as does the recent heavy accumulation of gold by many central banks.
Lambourne writes of the February BIS report: “Such a low level of swaps was the expectation if we were moving toward a time when gold was going to be revalued, as it always seemed sensible to eliminate the swaps before a reset.
“Our conjecture was always that the swaps were sourced from the gold exchange-traded funds and were possibly a return route for gold that is subject to multiple claims that originated from the Federal Reserve and were being used to hide the multiple claims.
“We are now in the period during the calendar year when no updates are provided by the BIS. This is because March 31 is the end of the bank’s financial year and one assumes that no information is published until the bank’s auditors are satisfied that the draft annual accounts are accurate.
“In the past this has usually resulted in the March statement of account being published in late May or even early June. The annual report itself is typically published in June.”
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
* * *
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Submitted by admin on Fri, 2025-03-07 20:18 Section: Daily Dispatches
8:15p ET Friday, March 7, 2025
Dear Friend of GATA and Gold (and Silver):
In a video report at YouTube and commentary at Money Metals, market analyst Jesse Colombo shows evidence of long-running suppression of silver prices and argues that the monetary metal is nearing an upside breakout.
… Dispatch continues below …
Colombo’s commentary at Money Metals is headlined “Why It’s Finally Silver’s Time to Shine Now”:
On LFTV, Maguire says shortcovering in gold is getting hard to hide
Submitted by admin on Sat, 2025-03-08 17:56 Section: Daily Dispatches
5:55p ET Saturday, March 8, 2025
Dear Friend of GATA and Gold:
Signs of shortcovering in the gold market are getting harder to hide, London metals trader Andrew Maguire tells this week’s episode of Kinesis Money’s “Live from the Vault” program. The bullion banks that used to sell gold unrelentingly are buying for their own accounts, he adds. He believes silver will follow gold’s breakout soon.
The program is 53 minutes long and can be viewed at YouTube here:
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
Episode 212
5B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COMMODITIES: COMMODITY//EGGS
6 CRYPTOCURRENCY NEWS
ASIA TRADING MONDAY MORNING SUNDAY NIGHT
SHANGHAI CLOSED DOWN 6.38 PTS OR 0.19%
//Hang Seng CLOSED DOWN 447.81 PTS OR 1.85%
// Nikkei CLOSED UP 131.10 OR 0.38%//Australia’s all ordinaries CLOSED UP 0.16%
//Chinese yuan (ONSHORE) CLOSED DOWN TO 7.2591 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2580/ Oil UP TO 67.40 dollars per barrel for WTI and BRENT DOWN TO 70.63 Stocks in Europe OPENED ALL RED
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS /MONDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN AT 7.2591
OFFSHORE YUAN: DOWN TO 7.2580
SHANGHAI CLOSED CLOSED DOWN 6.38 PTS OR 0.19%
HANG SENG CLOSED CLOSED DOWN 447.81 PTS OR 1.85%
2. Nikkei closed UP 141.10 OR 0.38%
3. Europe stocks SO FAR: ALL RED
USA dollar INDEX DOWN TO 103.55// EURO RISES TO 1.0851 UP 23 BASIS PT HEADING TO PARITY WITH USA
3b Japan 10 YR bond yield: RISES TO. +1.544//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 146.99…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold DOWN /JAPANESE Yen UP CHINESE ONSHORE YUAN: DOWN OFFSHORE: DOWN
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and UP FOR BRENT this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.8025/Italian 10 Yr bond yield DOWN to 3.870 SPAIN 10 YR BOND YIELD DOWN TO 3.457
3i Greek 10 year bond yield DOWN TO 3.613
3j Gold at $2904.00 Silver at: 32.50 1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 1 AND 56 /100 roubles/dollar; ROUBLE AT 88.13
3m oil into the 67 dollar handle for WTI and 70 handle for Brent/
3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/
JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 146.99 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.544 % STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE IS NOW UNWINDING.
30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.8765 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9516 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: 4.243 DOWN 8 BASIS PTS…
USA 30 YR BOND YIELD: 4.550 DOWN 7 BASIS PTS/
USA 2 YR BOND YIELD: 3.958 DOWN 7 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 36.55…
10 YR UK BOND YIELD: 4.6280 UP 3 PTS
10 YR CANADA BOND YIELD: 3.004 DOWN 3 BASIS PTS
5 YR CANADA BOND YIELD: 2.660 DOWN 3 PTS.
2a New York OPENING REPORT
Futures Slide As Recession Fears Mount, Trump Warns Of Looming “Disruption”
Monday, Mar 10, 2025 – 08:25 AM
US equity futures continue their relentless grind lower, as they trade just off session lows, down more than 1% as the “Trump Dump” selloff continues amid growing concerns about the health of the US economy. As JPM notes this morning “today there is a global de-risking but let’s see if Int’l Eqys outperform on the move lower or if the US can see a relief rally”; so far the answer is a resounding no with both European and Asian stocks tumbling, after Trump declined to rule out a recession due to his policies, pointing to a transition period for the economy. As of 8:00am, S&P futures are down 1.2% to 5,705 following the worst week for the benchmark index since September, while Nasdaq 100 futures slide 1.1% with all Mag7 stocks sharply lower to start the week: Tesla shares fell about 3% in premarket trading inching toward erasing their post-election gains, and most other Big Tech names also dropped, including AI bellwether Nvidia. European stocks slipped 0.4%. Treasuries are down 4-6bps amid rising recession fears, while the USD continues its post-Trump slump. In commodities, Ags and Energy are higher green while precious and base metals slide after China’s recent data confirmed deflation has returned to the second largest economy. Today’s macro data focus is on NY Fed’s 1-Year Inflation Expectations.
In premarket trading, Tesla leads losses among the Magnificent Seven stocks as the broader market selloff intensifies amid concerns of slowing economic growth (GOOGL -1%, AMZN -1.2%, AAPL -1.4%, MSFT -1%, META -1.4%, NVDA -1.8% and TSLA -2.6%). Cryptocurrency-exposed stocks fall as Bitcoin extends losses for a fifth consecutive session after President Donald Trump’s long-awaited order to create a strategic Bitcoin reserve disappointed the market and weighed on digital currencies (MicroStrategy (MSTR) -5%, Riot Platforms (RIOT) -4%). Here are some other notable premarket movers:
Beam Therapeutics (BEAM) rises 12% after the drug developer gave initial data from an early trial of its investigative therapy for a genetic disease that can cause lung and liver damage.
Checkpoint Therapeutics (CKPT) soars 67% after the immunotherapy and targeted oncology company agreed to be acquired by Sun Pharmaceutical Industries.
Coinbase (COIN) drops 6% after the cryptocurrency exchange operator was left out of a reshuffling of the S&P 500 Index on Friday.
DoorDash (DASH) climbs 3% as the S&P Dow Jones Indices is adding the the food-delivery company to the S&P 500 index.
Other S&P 500 inductees gain: Williams-Sonoma (WSM) +0.8%, Expand Energy (EXE) +2%
Intuitive Machines (LUNR) slumps 8%, extending last week’s selloff after it ended a lunar mission early following a flawed landing, the second setback for the company following a similar problem last year.
Mineralys (MLYS) soars 45% after the drug developer said two trials of its experimental hypertension medicine, lorundrostat, met their main goals.
Redfin Corp. (RDFN) soars 85% after Rocket Cos. agreed to buy the company in a deal that values the real estate listing site at $1.75 billion. Rocket (RKT) slips 9%.
Robinhood (HOOD) falls 5% after agreeing to pay $26 million to settle allegations by the Financial Industry Regulatory Authority that it failed to respond to red flags about potential misconduct and didn’t verify the identities of thousands of customers.
Samsara (IOT) gains 2% after Piper Sandler and BMO upgraded the software company to buy-equivalent ratings in the wake of a stock selloff driven by a lackluster fourth-quarter earnings report.
Mounting unease over the potential fallout from trade tariffs and sweeping government job cuts sent 10-year Treasury yields five basis points lower. The key borrowing rate has dropped more than 20 basis points in the past month, signaling risks that the world’s biggest economy will stall. Bloomberg’s dollar index held just shy of four-month lows. Tariffs and Trump’s policies have started having their “fair share of pressures on the equity markets, plus we have now started seeing a lot of concerns around US growth,” Sanford C. Bernstein strategist Rupal Agarwal said on Bloomberg TV.
Trump said at the weekend the US economy faces “a period of transition,” and there could be disruption in the near-term, suggesting that stocks could extend their slide in the near-term. “There could be a little disruption. You can’t really watch the stock market. If you look at China, they have a 100-year perspective… we go by quarters. What we’re doing is building a foundation for the future” Trump told Maria Bartiromo on Sunday. At the same time, Treasury Secretary Scott Bessent earlier warned of disruption to growth. Bessent also ruled out policy shifts to prop up the stock market, the so-called “Trump Put.”
Meanwhile, more analysts are warning of a hit to corporate earnings from tariffs and fiscal spending cuts. Morgan Stanley strategist Michael Wilson said the S&P 500 could slide 5% in the first half of the year, though he expects a recovery by year-end. JPMorgan analysts also said they are turning cautious on risk assets.
A higher open for European stocks didn’t last for long as shares quickly turned negative and the Stoxx 600 is now down 0.6%, with banks, construction and technology shares underperforming. Verallia, Ryanair and energy stocks were among the biggest outperformers, while Traton, Norma and Air France-KLM fall. Here are the biggest movers Monday:
Verallia shares rise as much as 4.5% after Brazil’s billionaire Moreira Salles family said it will make a voluntary tender offer for shares it doesn’t already own in the French glass-bottle maker
Ryanair shares jump as much as 6.7%, the most since November 2023, after the airline group said non-EU nationals are allowed to purchase ordinary shares
European energy stocks outperform Monday after US natural gas futures advanced to the highest level since 2022 on signs the nation could face storage levels below the five-year average this summer
Watches of Switzerland rises as much as 7.8%, rebounding after ending last week at its lowest level since November, as the luxury watch retailer said it has started a £25 million share buyback
Assura shares rise as much as 14% to 46.64p after a group comprising KKR and Stonepeak Partners made an indicative, non-binding cash proposal of 49.4p per share for the UK health-care landlord
Traton shares drop as much as 7.9% after the German truckmaker’s margin guidance for 2025 missed expectations and after the company said it is too early to declare a European turnaround
Norma shares drop as much as 7%, to the lowest since December, after analysts said the component maker’s guidance, released on Friday, was well below expectations
Air France-KLM shares slip as much as 3.1% after Bernstein cuts its rating on the airline group to market-perform. Analysts note that the carrier’s unit costs are set to keep rising in 2025
Clarkson shares slide as much as 20%, their worst one-day loss in seven months, after the shipbroker gave a cautious outlook for 2025 citing uncertainty due to regional conflicts and trade tensions
Earlier, Asian equities fell, led by declines in Hong Kong, as consumer inflation fell below zero for the first time in 13 months, compounding the dour outlook for the world’s second-biggest economy. The MSCI AC Asia Pacific Index fell as much as 0.9%, extending Friday’s losses, which pared the gauge’s best week since September. Tencent, Alibaba and Meituan were among the biggest drags Monday. Hong Kong-listed Chinese stocks dropped more than 2%, while shares gained in South Korea and Australia. China’s consumer inflation dropped below zero for the first time in 13 months and missed expectations. While the data were skewed by an earlier-than-usual Lunar New Year holiday, the reading unsettled the market after last week’s optimism over Beijing’s efforts to support domestic consumption.
“The market is still concerned over the dis-inflation pressure of China, which may be one of the excuses for equity indexes to see near-term corrections,” said Jason Chan, a senior investment strategist at Bank of East Asia. “In the medium run, I think inflation data will improve amid fiscal stimulus and recovery in the property market.”
The risk-averse mood can be seen elsewhere as havens outperform. In FX, the Bloomberg Dollar Spot Index hovered near to a four-month low, while Treasury yields slipped 5-7bps across the curve, as concerns around the US growth outlook mounted. Noway’s krone led Group-of-10 gains climbing over 1% against the dollar; Norwegian inflation accelerated more than expected last month, throwing in doubt Norges Bank’s long-awaited first interest-rate cut USD/JPY fell as much as 0.7% to 146.99, after Japanese workers saw their base pay rise at the fastest clip in 32 years USD/CAD steadied around 1.4375, after Mark Carney won the race to become Canada’s next prime minister
In rates, Treasuries lead gains in the bond market, with US 10-year yields dropping ~8 bps to 4.23% as spreading concern about a US growth slowdown fuels a flight-to-quality bid, weighing on equity index futures. A heavy corporate bond slate has been predicted for this week, with as many as 15 offerings viewed as possible for Monday. This week’s Treasury supply kicks off Tuesday and includes 3-, 10- and 30-year notes and bonds. US yields are 5bp-7bp richer across maturities led by intermediates, steepening 5s30s curve by around 2bp; 10-year near 4.24%, richer by 6bp, outperforms bunds and gilts in the sector by 3bp and 5bp. In Japan, 40Y JGB yields rose to the highest on record.
In commodities, oil prices edge higher, with WTI rising 0.3% to $67.20 a barrel. Spot gold falls $5 to around $2,905/oz. Bitcoin falls 1% to near $82,000, having pared an earlier drop to near $80,000.
Looking at today’s calendar, US economic data calendar includes February New York Fed 1-year inflations expectations at 11am New York time. Ahead this week are JOLTS job openings, CPI, PPI and University of Michigan sentiment. Fed officials are inn external communications blackout ahead of March 19 policy announcement.
Market Snapshot
S&P 500 futures down 0.9% to 5,724.50
STOXX Europe 600 little changed at 552.92
MXAP down 0.7% to 186.71
MXAPJ down 0.9% to 585.22
Nikkei up 0.4% to 37,028.27
Topix down 0.3% to 2,700.76
Hang Seng Index down 1.8% to 23,783.49
Shanghai Composite down 0.2% to 3,366.16
Sensex little changed at 74,387.84
Australia S&P/ASX 200 up 0.2% to 7,962.30
Kospi up 0.3% to 2,570.39
German 10Y yield down 2.7 bps at 2.82%
Euro down 0.1% to $1.0821
Brent Futures little changed at $70.34/bbl
Gold spot down 0.2% to $2,902.71
US Dollar Index little changed at 103.92
Top Overnight News
Ahead of the Friday deadline for a funding bill to pass to avoid a US shutdown, “It doesn’t feel like a shutdown is going to happen, although there’s still a chance because, well, this is Congress” – Punchbowl
House Republicans announced a spending bill to avert a government shutdown, daring Democrats to vote against it. Trump called on Republicans to pass the bill, warning them to allow “no dissent” in their ranks. BBG
Fed’s Daly (2027 voter) suggested that economic research shows uncertainty is a source of demand restraint and noted there are plenty of signs that the economy is solid but the market is giving mixed signals which is the reason monetary policy should be careful and deliberate, while she added that the Fed has rates in a good place.
Trump said he will pick the Federal Reserve Vice Chairman for Bank Supervision fairly soon It was also reported that Trump declined to predict whether the US could face a recession amid stock market concerns about his tariff actions on Mexico, Canada and China over fentanyl, while he said tariffs on Mexico and Canada could go up, according to Reuters citing an interview with Fox News.
Mark Carney will lead Canada’s Liberal Party and become the country’s next PM as Donald Trump’s trade policies fuel uncertainty. The former central bank chief vowed to maintain retaliatory tariffs until “Americans show us respect” and to make the nation an energy superpower. BBG
AAPL (Apple) suffered another AI setback when the company confirmed it wouldn’t be releasing an enhanced version of Siri for the foreseeable future. BBG
A new ceasefire deal between Israel and Hamas is possible within weeks, a US envoy told CNN. Israel halted its supply of electricity to Gaza. BBG
China’s CPI turned negative for the first time in 13 months, falling 0.7% in February from a year earlier. The core measure, which also slid, highlights the need for policymakers to deliver stimulus quickly. BBG
China has introduced retaliatory tariffs on about $22bn of US goods, including agricultural exports, targeting President Donald Trump’s rural base in the latest escalation in the trade war between the world’s two largest economies. Beijing’s measures, which were announced last week in response to Trump slapping an additional 10% levy on all Chinese products, are aimed primarily at US farm goods. FT
Japan’s real wages fell in January after two months of slight gains, data showed on Monday, days before the annual rounds of pay negotiations held each spring culminate at the country’s major firms. Japan real cash earnings for Jan come in a bit below expectations at -1.8% (vs. the Street -1.6%). RTRS
German industrial production comes in a bit better than anticipated in Jan (+2% M/M vs. the Street +1.5%) while exports fall short (-2.5% vs. the Street +0.5%). RTRS
Ukraine will try to convince Washington to resume arms/intelligence assistance during negotiations this Tues in Saudi Arabia, w/Kyiv advocating for a partial ceasefire in the war with Russia. FT
Trade/Tariffs
US Commerce Secretary Lutnick said President Trump will not ease up on fentanyl-related tariffs and that tariffs will come off if fentanyl ends, while he noted steel and aluminium tariffs take effect on Wednesday and they will revisit fentanyl and reciprocal trade issues on April 2nd.
Incoming Canadian PM Carney vowed to discover new trade partners and ensure borders, while they will keep tariffs on the US until Americans show them respect. Carney said they cannot let Trump succeed and will ensure that all proceeds from tariffs will be used to protect their workers.
Canadian Finance Minister LeBlanc said Canada is ready for an immediate review of the USMCA trade agreement and there is still room for talks on steel and aluminium tariffs.
China’s MOFCOM said it will impose tariffs on some imports from Canada in retaliation for Canadian tariffs on Chinese goods effective March 20th in which it will impose 100% tariffs on Canadian rapeseed oil imports and 25% on port and seafood imports, while it will impose additional tariffs on some other Canadian goods.
South Korean Acting President Choi ordered to communicate actively with the US about tariff rates and will consult with the US about cooperation in shipbuilding and energy sectors, while they are to review non-tariff measures related to US reciprocal tariffs.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks began the week mixed amid tariff-related concerns and as participants digested the softer-than-expected Chinese inflation data from over the weekend. ASX 200 eked mild gains with outperformance seen in energy, resources and materials but with the upside capped by weakness in defensives and the economic concerns related to Australia’s largest trading partner. Nikkei 225 gradually shrugged off the initial indecisiveness and clawed back early losses to reclaim the 37,000 status as participants digested data releases including the slower-than-forecast growth in Labour Cash Earnings. Hang Seng and Shanghai Comp retreated amid deflationary headwinds after CPI data slipped into negative territory for the first time in over a year, while tariff concerns lingered as China’s retaliatory tariffs against the US’s March 4th additional tariffs took effect today.
Top Asian News
Deputy to China’s National People’s Congress (NPC) says China’s “around 5%” GDP target for 2025 is certainly challenging and by no means an easy feat, via Global Times. Tian said one of China’s biggest challenges is insufficient domestic demand but believes the government’s plans, such as increasing the budget deficit to support higher government spending, issuing ultra-long special treasury bonds, and improving investment efficiency will help address the issues.
China’s Housing Minister said market confidence has been enhanced and the property market shows positive changes, while they will step up lending for ‘White list’ property projects and promote the purchase of existing housing stocks. China will give more autonomy to local governments in purchasing housing stocks for affordable housing and part of China’s local government special bonds will be used for purchasing land and housing stocks.
China’s Human Resources Minister said they face an arduous task to stabilise and expand employment in 2025 and the external environment for employment could become more complex and severe but added that the employment situation is generally stable. Furthermore, China will step up resources and funding to support employment and will prepare to roll out new policies to support employment.
South Korean prosecutors decided not to appeal President Yoon’s release.
Acer (2353 TW) Feb Revenue TWD 17.07bln.
Key Japanese government panel members called for vigilance to risks of rising inflation hurting the economy.
European bourses (STOXX 600 -0.5%) opened modestly in the green, but quickly succumbed to selling pressure soon after, to display a negative picture in Europe. As it stands, indices currently reside at the bottom end of the day’s ranges. European sectors are mixed vs initially opening with a slight positive bias; Real Estate takes the top spot, as yields move lower, whilst Tech is swept away by the risk tone. Novo Nordisk (NOVOB DC) says Cagrisema demonstrates superior weight loss in adults with obesity or overweight and type 2 diabetes in the Redefine 2 trial; People treated with Cagrisema achieved a superior weight loss of 15.7% after 68 weeks. Shares dip -5% on this news. Analysts at HSBC downgrade US equities to Neutral.
Top European News
Germany’s Green party insider says approval of financial package becomes less likely every day, according to Handelsblatt. “Willingness to help the black-red debt package for defence and infrastructure to gain a two-thirds majority in the Bundestag is apparently declining.”
Leaders of Germany’s CDU/CSU and SPD said they have completed preliminary talks on forming a coalition government.
Germany’s AfD has filed an urgent appeal with the Constitutional Court against the session of the outgoing Bundestag on Thursday, via Reuters citing a court spokesperson.
S&P affirmed Norway at ‘AAA’; Outlook Stable.
ECB’s Kazimir says inflation risks remain tilted to the upside; must remain open minded on whether we cut rates or pause. Geopolitical and trade tensions add another layer of unpredictability. Looking for undeniable confirmation that disinflation will stay; tariffs historically slow growth and boost inflation.
DXY has been choppy thus far, initially topping the 104.00 mark as risk sentiment waned, but is now a little lower thus far; currently trading within a 103.55-104.03 range. The Fed is now in blackout, so focus this week will be on trade developments. Most recently, US President Trump said on Friday regarding Canada that he may do reciprocal tariffs as early as Friday or Monday, while he added the EU has been a terrible abuser on tariffs and India has agreed to cut tariffs way down. Focus ahead will be on US NY Fed SCE.
EUR price action has been at the whim of a choppy Dollar; currently firmer and trading around 1.0870, in a 1.0806-1.0874 range. As mentioned above, commentary from President Trump who said the EU has been a terrible abuser on tariffs, will garner some attention. On the domestic front, Germany’s CDU/CSU and SPD said they have completed preliminary talks on forming a coalition government. The EU Sentix Index printed above expectations, but had limited impact on the Single-Currency. ECB’s Nagel is set to speak this afternoon.
JPY is one of the better performing G10 currencies today, largely a factor of narrowing yield differentials and as risk sentiment continues to deteriorate in European trade. Overnight, USD/JPY was relatively choppy given the uncertain risk sentiment in Tokyo in APAC trade. USD/JPY currently trading at the bottom end of the day’s ranges (146.98-147.96), dipping below 147.00, with Friday’s 146.93 thereafter.
GBP is softer vs. the USD and at the bottom of the G10 leaderboard after a solid showing for Cable last week which saw the pair rally from a 1.2577 opening level last Monday to a YTD peak at 1.2944. UK-specific newsflow has been light and does not pick-up until Friday.
Antipodeans are firmer today, with modest outperformance in the Kiwi but with upside capped amid downbeat sentiment and with Chinese inflation over the weekend printing below expectations.
The NOK is stronger today, after the region printed hotter-than-expected inflation data; EUR/NOK fell from 11.7463 to 11.7150 before then paring around half of the move. Following the data, Nordea bank wrote that “Norges Bank need to think twice about cutting rates at all this year. The March cut is definitely off.”
PBoC set USD/CNY mid-point at 7.1733 vs exp. 7.2355 (Prev. 7.1705).
Former Central Banker Mark Carney won the Liberal Party race to become the next Canadian PM, according to official results cited by Reuters.
Fixed Income
USTs picked up at the reopening of trade, given the pressure in US equity futures and as the benchmark acknowledged the soft Chinese inflation data on the weekend. The risk-off tone has intensified further with USTs outperforming and at a 111-03 peak, resistance at 111-11+ and 111-15 from last week. Market focus is firmly on tariffs/trade with new measures set to come into play on metals on Wednesday and the prospect of reciprocal tariffs being implemented imminently. Furthermore, President Trump’s sights seem to have turned back to the EU, with him labelling the bloc as a terrible abuser. Finally, focus is also on fiscal matters as the Friday deadline to pass a funding bill to avoid a federal shutdown fast approaches. The House Republicans released their CR on the weekend and following this Punchbowl writes that it does not feel as if a shutdown will occur.
Bunds opened lower following German political updates; reports indicate that coalition talks for the new Bundestag are progressing well. Elsewhere, for the bloc more broadly, EU Commission President von der Leyen said that “nothing” is off the table for security, including defence eurobonds. All of the above weighed on Bunds to a 127.21 low overnight, just above Friday’s 127.18 base and the contract low from last week at 126.64 below. However, fixed benchmarks generally have been lifting off worst through the European morning as the risk tone deteriorates. On incoming Chancellor Merz’s spending plans, recent reporting via Handelsblatt has suggested that the approval of financial package becomes less likely every day, citing a Green party inside. Furthermore, Germany’s AfD has filed an urgent appeal with the Constitutional Court against the session of the outgoing Bundestag on Thursday.
Gilts are trading in tandem with the above as the risk tone soured throughout the European morning. Gapped higher by 22 ticks at the open and has since risen almost the same amount again to a 92.49 peak. A high which surpasses the 92.41 top from last Wednesday but has stopped just shy of Friday’s 92.63 best
Commodities
Crude is incrementally firmer, in what has been a choppy but fairly lacklustre European morning for the complex thus far, but also in a continuation of the price action seen overnight. In early European trade, oil prices picked up a touch, but gains were soon capped as sentiment waned in Europe. Brent’May sits in a USD 69.84-70.57/bbl range. On the geopolitical front, new Russia/US talks are reportedly not scheduled for this week, according to TASS. And in the Middle East, Al Jazeera reported that Smotrich said that “in light of the lack of progress in negotiations, we will return to fighting in Gaza”.
Spot gold is a little firmer, with a slight bounce in recent trade as the Dollar comes off best levels. Currently trading in a USD 2,896.83-2,918.32/oz range.
Base metals are mostly lower, given the weak Chinese inflation data and flimsy risk tone. 3M LME Copper currently trading in USD 9,510.35-9,640.6/t range vs the prior close at USD 9,584.63.
Iraq set the April Basrah medium crude official selling price to Asia at plus USD 2.15/bbl vs Oman/Dubai and the OSP to Europe at minus USD 1.50/bbl vs Dated Brent, while it set the OSP to North and South America at minus USD 0.65/bbl vs ASCI, according to SOMO.
US is in exploratory talks with Congo about a potential minerals deal, according to FT.
Geopolitics: Middle East
Hamas says it dealt with mediator efforts with flexibility, now awaiting the result of talks with Israel. Talks focussed on ending the war, Israel’s withdrawal from Gaza and reconstruction.
“Israel Broadcasting Corporation on Smotrich: In light of the lack of progress in negotiations, we will return to fighting in Gaza and the new chief of staff has a more effective combat plan than his predecessor”, according to Al Jazeera
Israel’s Energy Minister ordered the stoppage of electricity transmission to Gaza, according to Israeli broadcaster Kan.
Hamas said there are positive indicators over negotiations for the second phase of the Gaza ceasefire deal, while it noted its delegation met Egypt’s spy chief in Cairo to discuss the Gaza ceasefire and it urged commitment to all the Gaza ceasefire deal’s articles and the immediate start of talks for the second phase. It was separately reported that a Hamas official said the group is open to releasing American-Israeli hostage Edan Alexander as part of talks to end the Gaza war, according to Al-Aqsa TV.
US hostage envoy Boehler said meetings with Hamas leaders in recent days were very helpful and that something could come together within weeks on Gaza and hostages, while he thinks all prisoners could get out not just Americans.
France, Germany, Italy and Britain said they welcome the Arab plan for Gaza reconstruction which they said shows a realistic path to reconstruction of Gaza and are committed to working with the Arab initiative.
US State Department has not renewed a waiver for Iraq to buy Iranian electricity and noted the decision ensures the US does not allow Iran any degree of economic relief. It was separately reported that the Iraqi PM’s Foreign Affairs advisor Alaaldin said non-renewal of US sanctions waiver for Iraq to purchase Iranian energy presents temporary operational challenges, while Iraq is committed to its strategic goal of achieving energy self-sufficiency.
Iran Supreme Leader Khamenei said Tehran will not negotiate under pressure from a bullying country and will never accept demands to curb its missile program. It was separately reported that the White House reiterated that Iran’s nuclear concern can be dealt with by making a deal or militarily, while it hopes the Iranian regime puts its people and best interests ahead of terror.
Iran’s mission to the UN said talks on the potential militarisation of Iran’s nuclear program may be considered and Iran will not discuss the dismantlement of its nuclear program.
Joint naval drills between Iran, Russia and China will begin on Monday in the Chabahar region of Iran.
US and Russia ask UN Security Council to meet on Monday regarding escalating Syria violence It was separately reported that UN rights chief Volcker Turk said the killing of civilians in coastal areas in northwest Syria must cease immediately.
UK Foreign Secretary Lammy said reports that a large number of civilians have been killed in coastal areas in Syria in ongoing violence are horrific and authorities in Damascus must ensure the protection of all Syrians and set out a clear path to justice.
Syrian leader Sharaa said Syria is confronting attempts to drag it into a civil war and that remnants of the former regime have no choice but to surrender immediately, while he added that Syria will not allow any external or local forces to drag it into chaos or civil war.
Geopolitcs: Ukraine
New Russia/US talks are reportedly not scheduled for this week, according to TASS.
US President Trump said Ukraine will sign the minerals deal but needs to show more willingness for peace, while Trump also stated they are looking at a lot of things with respect to tariffs on Russia and will make a lot of progress this week, while he is expecting good results coming out of Saudi on Ukraine and stated they have just about lifted the intelligence pause on Ukraine.
Russian Defence Ministry said it has taken one village in Russia’s Kursk region and another in Ukraine’s Sumy region, while Russia also said it has taken the village of Kostyantynopil in eastern Ukraine’s Donetsk region. Furthermore, it was later reported that Russian forces recaptured three more settlements in the Kursk region.
Geopolitics: Other
North Korea’s Foreign Ministry said US and South Korean military exercises are a dangerous provocative act, according to KCNA. It was separately reported that North Korea unveiled a nuclear-powered submarine under construction for the first time which appears capable of carrying 10 missiles, according to Nikkei.
US Event Calendar
11:00: Feb. NY Fed 1-Yr Inflation Expectat, prior 3.00%
Central Bank Speakers
March 8-March 20: Fed’s External Communications Blackout
DB’s Jim Reid concludes the overnight wrap
A week after playing golf in the frost with a snood, balaclava and bobble hat, it was shorts weather here in the UK over the weekend. After golf and parenting I then watched Oscar winning Anora and fell asleep bored and irritated. The third Oscar best film winner in a row I haven’t finished after the dull Oppenheimer and the unwatchable Everything Everywhere All at Once. The previous winner CODA, and Parasite, a couple of years before, were fantastic.
If this year so far was a movie then I’m sure the script would have been thrown out as being too unbelievable, even for Hollywood. I certainly haven’t fallen asleep at my desk. However, relative to the year so far, it was a relatively quiet weekend after one of the more dramatic weeks in living memory, especially in Germany, where 10yr Bunds saw their largest weekly yield sell-off since reunification in 1990. The Euro (+4.41%) saw its biggest weekly gain since March 2009 while the S&P 500 (-3.10%) saw its largest weekly fall in 6 months. As we continue to catch our breath, this week is relatively quiet for data even if I suspect it won’t be for news flow. The data highlight is US CPI on Wednesday but the reality is that there are bigger fish for the market to fry at the moment than a monthly inflation report. How times are changing.
Briefly going through the rest of the week’s main highlights. Today sees the NY Fed 1-yr US inflation expectations and German IP; tomorrow sees the US JOLTS and the NFIB small business optimism; Wednesday the BoC decision (-25bps expected) and a 10yr UST auction; Thursday sees US PPI and a 30yr UST auction; and Friday sees the UoM consumer sentiment survey. The fuller day-by-day week ahead is at the end as usual.
In terms of US CPI, headline (+0.27% DB forecast vs. +0.47% previously), and core (+0.26% vs. +0.45%) should ease from the previous month which would allow the YoY rate to fall a tenth and two tenths respectively to 2.9% and 3.1%. See our economists “February CPI preview & webinar registration” for full details. For US PPI the next day, we will likely see a similar +0.3% gain for headline and core but it’ll be the sub components that feed into core PCE that will be the most important as usual.
Staying with US inflation, Friday’s University of Michigan preliminary consumer sentiment (63.0 expected vs 64.7 last) reading will also contain the fascinating long-run inflation expectations series, which rose three-tenths to 3.5% last month, an almost 30-year high. We will continue to watch the split by political party as the expectations gap between Republicans and Democrats are at crazy wide levels.
Although the weekend was relatively quiet we did hear from both Bessant and Trump and they seem to be telling us that they are prepared for some pain to reorientate the economy. Bessent said, “Could we be seeing that this economy that we inherited starting to roll a bit? Sure. And look, there’s going to be a natural adjustment as we move away from public spending to private spending,” “The market and the economy have just become hooked. We’ve become addicted to this government spending, and there’s going to be a detox period.” Meanwhile Trump told Fox that “There is a period of transition, because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing.” “What I have to do is build a strong country. You can’t really watch the stock market,” “If you look at China they have a hundred-year perspective”. So taken at face value these quote suggest that their pain level is higher than most would have believed a few weeks ago.
Also over the weekend the House Republicans propose a stopgap funding bill taking us to the end of September, attempting to avert a shutdown on March 15th (this Saturday). There will be a vote tomorrow with some House Republicans not that keen to vote for a stopgap that doesn’t contain permanent spending cuts. However the tougher challenge will be when the bill hits the Senate as it will require moderate Democrats to support it for it to pass. One of the issues is that the bill explicitly gives DOGE the licence to carry on what’s it’s doing which may be a struggle for Democrats to support. So one to watch.
We also saw the conservatives and Social Democrats in Germany agree to deepen talks around a coalition on Saturday. So things seem to be moving in the right direction which is helpful as in parallel Merz has two weeks to approve the legislation around the EU500bn infrastructure fund and the associated open ended defence fund. In reality this is the biggest global event over the next two weeks outside of anything the US administration might do.
In geopolitics, EU finance ministers meet today in Brussels for more talks on defence spending. On Wednesday the US is set to impose steel and aluminium tariffs of 25% on the EU. There will also be a G-7 foreign ministers meeting in Canada on Wednesday to Friday.
Over the weekend Chinese inflation fell -0.7% YoY, below the consensus -0.4% and the -0.5% last month. Core inflation fell -0.1% YoY, the first decline since 2021. PPI printed at -2.2% YoY against -2.1% expected and -2.3% the previous month. Overall there was likely some distortion due to the timing of Lunar New Year so we’ll get a better read next month. In political news, Mark Carney has been elected the new leader of Canada’s Liberal party, succeeding Justin Trudeau who announced his resignation in January. This victory makes him Canada’s new prime minister. Let’s see how his relationship with Trump differs from his predecessor’s.
Asian equity markets are slipping as I type this morning with the Nikkei (+0.38%), the Kospi (+0.18%) and the S&P/ASX 200 (+0.18%) holding onto earlier gains but with the Hang Seng (-2.06%), CSI (-0.71%) and Shanghai Composite (-0.44%) notably weaker after the weekend deflation news. S&P 500 (-0.48%) and NASDAQ 100 (-0.59%) futures are weak with 10yr USTs -2bps lower at 4.28%.
Early morning data showed that Japan’s real wages fell -1.8% y/y in January, reversing two months of slight gains, days before the annual rounds of pay negotiations held each spring culminate at the country’s major firms. The decline followed a revised +0.3% rise in December and a +0.5% gain in November. Meanwhile, total cash earnings rose +2.8% y/y in January (v/s +3.0% expected), slowing from December’s downwardly revised +4.4% rise.
Looking back, it was a truly seismic week for markets last week, as investors grappled with historic fiscal news out of Germany, European rearmament proposals, fresh tariff developments, and a US jobs report on Friday. By the end of the week, that had led to a huge selloff for European sovereign bonds, including the biggest weekly jump in the 10yr bund yield since reunification in 1990, up +43.0bps over the week (+0.3bps Friday) to 2.83%. Moreover, the euro itself saw the biggest weekly gain against the US Dollar since March 2009, up +4.41% last week to $1.0833.
But even as investors were enthusiastic about the fiscal news, the tariff developments led to a broader risk-off move that hit global equity markets. In fact, the S&P 500 posted its biggest weekly decline in 6 months, falling -3.10%. The index did recover by +0.55% on Friday, with a measured speech by Powell, who said “the US economy continues to be in a good place”, catalysing a turn in sentiment. In turn, the VIX retreated from Friday’s intra-day highs of 26.5 to end the week at 23.37, but this still marked a +3.74pts weekly increase and the highest weekly close since August. Meanwhile in Europe, the STOXX 600 also ended its run of 10 consecutive weekly gains, falling -0.69% last week (-0.46% Friday). The main exception to these losses was the German DAX however, where the prospect of a significant fiscal impulse meant the index was up +2.03% last week (-1.75% Friday).
With all that was going on, Friday’s jobs report rather faded into the background, in part because it was basically in line with consensus. Nonfarm payrolls were up +151k (vs. +160k expected), and there weren’t substantial revisions to the previous couple of months. The unemployment rate did tick up a bit to 4.1% (vs. 4.0% expected), but the report didn’t cause alarm, with the risk-off move driven by tariff uncertainty instead.
On the rates side, US Treasury yields saw more modest increases than their European counterparts. The 10yr yield was up +9.4bps over the week (+2.4bps Friday) to 4.30%, while the 2yr yield saw only a +1.0bps rise to 4.00% (+4.0bps Friday). Otherwise, there was a significant widening in US HY spreads, which moved up +11bps to 291bps (-3bps Friday).
2b European opening report
Downbeat sentiment with US equity futures in the red, whilst USTs gain – Newsquawk US Market Open
Monday, Mar 10, 2025 – 06:19 AM
European bourses opened higher but quickly succumbed to selling pressure as sentiment took a hit; US futures are in the red, NQ -1.2%.
A choppy start to the week with USD failing to bounce back from last week’s selling; JPY leads.
Bonds are propped up by a deterioration in sentiment, offsetting initial Bund pressure on fiscal-related developments.
Crude consolidates, precious metals are cushioned, and base metals are hit after Chinese CPI.
US House Republicans unveiled a stopgap funding bill to keep the government funded through September 30th.
Looking ahead, US Employment Trends, NY Fed SCE, Chinese M2 Money Supply. Earnings: Oracle, BioNTech.
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TARIFFS/TRADE
US Commerce Secretary Lutnick said President Trump will not ease up on fentanyl-related tariffs and that tariffs will come off if fentanyl ends, while he noted steel and aluminium tariffs take effect on Wednesday and they will revisit fentanyl and reciprocal trade issues on April 2nd.
Incoming Canadian PM Carney vowed to discover new trade partners and ensure borders, while they will keep tariffs on the US until Americans show them respect. Carney said they cannot let Trump succeed and will ensure that all proceeds from tariffs will be used to protect their workers.
Canadian Finance Minister LeBlanc said Canada is ready for an immediate review of the USMCA trade agreement and there is still room for talks on steel and aluminium tariffs.
China’s MOFCOM said it will impose tariffs on some imports from Canada in retaliation for Canadian tariffs on Chinese goods effective March 20th in which it will impose 100% tariffs on Canadian rapeseed oil imports and 25% on port and seafood imports, while it will impose additional tariffs on some other Canadian goods.
South Korean Acting President Choi ordered to communicate actively with the US about tariff rates and will consult with the US about cooperation in shipbuilding and energy sectors, while they are to review non-tariff measures related to US reciprocal tariffs.
EUROPEAN TRADE
EQUITIES
European bourses (STOXX 600 -0.5%) opened modestly in the green, but quickly succumbed to selling pressure soon after, to display a negative picture in Europe. As it stands, indices currently reside at the bottom end of the day’s ranges.
European sectors are mixed vs initially opening with a slight positive bias; Real Estate takes the top spot, as yields move lower, whilst Tech is swept away by the risk tone.
US equity futures (ES -1% NQ -1% RTY -0.9%) are entirely in the red, with very modest underperformance in the NQ, giving back some of Friday’s upside. Pressure in the complex could stem from commentary via Commerce Secretary Lutnick who said that President Trump will not ease up on fentanyl-related tariffs and that steel and aluminium tariffs will take effect on Wednesday.
China sold 1.41mln (prev. 1.11mln) passenger cars in February, +26.1% Y/Y, via CPCA; Tesla (TSLA) exported 3.9k China-made vehicles (prev. 30.2k Y/Y).
Ford (F) is set to inject EUR 4.4bln into its German subsidiary, according to the FT. Ford (F) confirms FT Reports that they will provide up to EUR 4.4bln in new financing for German subsidiary.
Novo Nordisk (NOVOB DC) says Cagrisema demonstrates superior weight loss in adults with obesity or overweight and type 2 diabetes in the Redefine 2 trial; People treated with Cagrisema achieved a superior weight loss of 15.7% after 68 weeks.Shares dip -5% on this news.
Analysts at HSBC downgrade US equities to Neutral.
DXY has been choppy thus far, initially topping the 104.00 mark as risk sentiment waned, but is now a little lower thus far; currently trading within a 103.55-104.03 range. The Fed is now in blackout, so focus this week will be on trade developments. Most recently, US President Trump said on Friday regarding Canada that he may do reciprocal tariffs as early as Friday or Monday, while he added the EU has been a terrible abuser on tariffs and India has agreed to cut tariffs way down. Focus ahead will be on US NY Fed SCE.
EUR price action has been at the whim of a choppy Dollar; currently firmer and trading around 1.0870, in a 1.0806-1.0874 range. As mentioned above, commentary from President Trump who said the EU has been a terrible abuser on tariffs, will garner some attention. On the domestic front, Germany’s CDU/CSU and SPD said they have completed preliminary talks on forming a coalition government. The EU Sentix Index printed above expectations, but had limited impact on the Single-Currency. ECB’s Nagel is set to speak this afternoon.
JPY is one of the better performing G10 currencies today, largely a factor of narrowing yield differentials and as risk sentiment continues to deteriorate in European trade. Overnight, USD/JPY was relatively choppy given the uncertain risk sentiment in Tokyo in APAC trade. USD/JPY currently trading at the bottom end of the day’s ranges (146.98-147.96), dipping below 147.00, with Friday’s 146.93 thereafter.
GBP is softer vs. the USD and at the bottom of the G10 leaderboard after a solid showing for Cable last week which saw the pair rally from a 1.2577 opening level last Monday to a YTD peak at 1.2944. UK-specific newsflow has been light and does not pick-up until Friday.
Antipodeans are firmer today, with modest outperformance in the Kiwi but with upside capped amid downbeat sentiment and with Chinese inflation over the weekend printing below expectations.
The NOK is stronger today, after the region printed hotter-than-expected inflation data; EUR/NOK fell from 11.7463 to 11.7150 before then paring around half of the move. Following the data, Nordea bank wrote that “Norges Bank need to think twice about cutting rates at all this year. The March cut is definitely off.”
PBoC set USD/CNY mid-point at 7.1733 vs exp. 7.2355 (Prev. 7.1705).
Former Central Banker Mark Carney won the Liberal Party race to become the next Canadian PM, according to official results cited by Reuters.
USTs picked up at the reopening of trade, given the pressure in US equity futures and as the benchmark acknowledged the soft Chinese inflation data on the weekend. The risk-off tone has intensified further with USTs outperforming and at a 111-03 peak, resistance at 111-11+ and 111-15 from last week. Market focus is firmly on tariffs/trade with new measures set to come into play on metals on Wednesday and the prospect of reciprocal tariffs being implemented imminently. Furthermore, President Trump’s sights seem to have turned back to the EU, with him labelling the bloc as a terrible abuser. Finally, focus is also on fiscal matters as the Friday deadline to pass a funding bill to avoid a federal shutdown fast approaches. The House Republicans released their CR on the weekend and following this Punchbowl writes that it does not feel as if a shutdown will occur.
Bunds opened lower following German political updates; reports indicate that coalition talks for the new Bundestag are progressing well. Elsewhere, for the bloc more broadly, EU Commission President von der Leyen said that “nothing” is off the table for security, including defence eurobonds. All of the above weighed on Bunds to a 127.21 low overnight, just above Friday’s 127.18 base and the contract low from last week at 126.64 below. However, fixed benchmarks generally have been lifting off worst through the European morning as the risk tone deteriorates. On incoming Chancellor Merz’s spending plans, recent reporting via Handelsblatt has suggested that the approval of financial package becomes less likely every day, citing a Green party inside. Furthermore, Germany’s AfD has filed an urgent appeal with the Constitutional Court against the session of the outgoing Bundestag on Thursday.
Gilts are trading in tandem with the above as the risk tone soured throughout the European morning. Gapped higher by 22 ticks at the open and has since risen almost the same amount again to a 92.49 peak. A high which surpasses the 92.41 top from last Wednesday but has stopped just shy of Friday’s 92.63 best.
Crude is incrementally firmer, in what has been a choppy but fairly lacklustre European morning for the complex thus far, but also in a continuation of the price action seen overnight. In early European trade, oil prices picked up a touch, but gains were soon capped as sentiment waned in Europe. Brent’May sits in a USD 69.84-70.57/bbl range. On the geopolitical front, new Russia/US talks are reportedly not scheduled for this week, according to TASS. And in the Middle East, Al Jazeera reported that Smotrich said that “in light of the lack of progress in negotiations, we will return to fighting in Gaza“.
Spot gold is a little firmer, with a slight bounce in recent trade as the Dollar comes off best levels. Currently trading in a USD 2,896.83-2,918.32/oz range.
Base metals are mostly lower, given the weak Chinese inflation data and flimsy risk tone. 3M LME Copper currently trading in USD 9,510.35-9,640.6/t range vs the prior close at USD 9,584.63.
Iraq set the April Basrah medium crude official selling price to Asia at plus USD 2.15/bbl vs Oman/Dubai and the OSP to Europe at minus USD 1.50/bbl vs Dated Brent, while it set the OSP to North and South America at minus USD 0.65/bbl vs ASCI, according to SOMO.
US is in exploratory talks with Congo about a potential minerals deal, according to FT.
German Imports MM SA (Jan) 1.2% vs. Exp. 0.8% (Prev. 2.1%); Trade Balance, EUR, SA (Jan) 16.0B vs. Exp. 20.6B (Prev. 20.7B); Exports MM SA (Jan) -2.5% vs. Exp. 0.5% (Prev. 2.9%); Industrial Output MM (Jan) 2.0% vs. Exp. 1.5% (Prev. -2.4%)
Norwegian Core Inflation YY (Feb) 3.4% vs. Exp. 2.9% (Prev. 2.8%); Producer Price Index YY (Feb) 23.3% (Prev. 18.1%); Core Inflation MM (Feb) 1.0% (Prev. 0.1%); Consumer Price Index MM (Feb) 1.4% (Prev. 0.2%)
EU Sentix Index (Mar) -2.9 vs. Exp. -8.4 (Prev. -12.7)
NOTABLE EUROPEAN HEADLINES
Germany’s Green party insider says approval of financial package becomes less likely every day, according to Handelsblatt. “Willingness to help the black-red debt package for defence and infrastructure to gain a two-thirds majority in the Bundestag is apparently declining.”
Leaders of Germany’s CDU/CSU and SPD said they have completed preliminary talks on forming a coalition government.
Germany’s AfD has filed an urgent appeal with the Constitutional Court against the session of the outgoing Bundestag on Thursday, via Reuters citing a court spokesperson.
S&P affirmed Norway at ‘AAA’; Outlook Stable.
ECB’s Kazimir says inflation risks remain tilted to the upside; must remain open minded on whether we cut rates or pause. Geopolitical and trade tensions add another layer of unpredictability. Looking for undeniable confirmation that disinflation will stay; tariffs historically slow growth and boost inflation.
Punchbowl writes, ahead of the Friday deadline for a funding bill to pass to avoid a US shutdown, “It doesn’t feel like a shutdown is going to happen, although there’s still a chance because, well, this is Congress.”
Fed’s Daly (2027 voter) suggested that economic research shows uncertainty is a source of demand restraint and noted there are plenty of signs that the economy is solid but the market is giving mixed signals which is the reason monetary policy should be careful and deliberate, while she added that the Fed has rates in a good place.
US President Trump said he will pick the Federal Reserve Vice Chairman for Bank Supervision fairly soon It was also reported that Trump declined to predict whether the US could face a recession amid stock market concerns about his tariff actions on Mexico, Canada and China over fentanyl, while he said tariffs on Mexico and Canada could go up, according to Reuters citing an interview with Fox News.
US House Republicans unveiled a stopgap funding bill that would keep the government funded through September 30th. It was later reported that President Trump said the House and Senate have put together a very good funding bill and he urges Republicans to vote for it in the week ahead.
Jefferies Analyst Simon has trimmed his US GDP forecast from 2.9% to 2.4%; still expects 3 fed cuts in 2025.
GEOPOLITICS
MIDDLE EAST
Hamas says it dealt with mediator efforts with flexibility, now awaiting the result of talks with Israel. Talks focussed on ending the war, Israel’s withdrawal from Gaza and reconstruction.
“Israel Broadcasting Corporation on Smotrich: In light of the lack of progress in negotiations, we will return to fighting in Gaza and the new chief of staff has a more effective combat plan than his predecessor”, according to Al Jazeera
Israel’s Energy Minister ordered the stoppage of electricity transmission to Gaza, according to Israeli broadcaster Kan.
Hamas said there are positive indicators over negotiations for the second phase of the Gaza ceasefire deal, while it noted its delegation met Egypt’s spy chief in Cairo to discuss the Gaza ceasefire and it urged commitment to all the Gaza ceasefire deal’s articles and the immediate start of talks for the second phase. It was separately reported that a Hamas official said the group is open to releasing American-Israeli hostage Edan Alexander as part of talks to end the Gaza war, according to Al-Aqsa TV.
US hostage envoy Boehler said meetings with Hamas leaders in recent days were very helpful and that something could come together within weeks on Gaza and hostages, while he thinks all prisoners could get out not just Americans.
France, Germany, Italy and Britain said they welcome the Arab plan for Gaza reconstruction which they said shows a realistic path to reconstruction of Gaza and are committed to working with the Arab initiative.
US State Department has not renewed a waiver for Iraq to buy Iranian electricity and noted the decision ensures the US does not allow Iran any degree of economic relief. It was separately reported that the Iraqi PM’s Foreign Affairs advisor Alaaldin said non-renewal of US sanctions waiver for Iraq to purchase Iranian energy presents temporary operational challenges, while Iraq is committed to its strategic goal of achieving energy self-sufficiency.
Iran Supreme Leader Khamenei said Tehran will not negotiate under pressure from a bullying country and will never accept demands to curb its missile program. It was separately reported that the White House reiterated that Iran’s nuclear concern can be dealt with by making a deal or militarily, while it hopes the Iranian regime puts its people and best interests ahead of terror.
Iran’s mission to the UN said talks on the potential militarisation of Iran’s nuclear program may be considered and Iran will not discuss the dismantlement of its nuclear program.
Joint naval drills between Iran, Russia and China will begin on Monday in the Chabahar region of Iran.
US and Russia ask UN Security Council to meet on Monday regarding escalating Syria violence It was separately reported that UN rights chief Volcker Turk said the killing of civilians in coastal areas in northwest Syria must cease immediately.
UK Foreign Secretary Lammy said reports that a large number of civilians have been killed in coastal areas in Syria in ongoing violence are horrific and authorities in Damascus must ensure the protection of all Syrians and set out a clear path to justice.
Syrian leader Sharaa said Syria is confronting attempts to drag it into a civil war and that remnants of the former regime have no choice but to surrender immediately, while he added that Syria will not allow any external or local forces to drag it into chaos or civil war.
RUSSIA-UKRAINE
New Russia/US talks are reportedly not scheduled for this week, according to TASS.
US President Trump said Ukraine will sign the minerals deal but needs to show more willingness for peace, while Trump also stated they are looking at a lot of things with respect to tariffs on Russia and will make a lot of progress this week, while he is expecting good results coming out of Saudi on Ukraine and stated they have just about lifted the intelligence pause on Ukraine.
Russian Defence Ministry said it has taken one village in Russia’s Kursk region and another in Ukraine’s Sumy region, while Russia also said it has taken the village of Kostyantynopil in eastern Ukraine’s Donetsk region. Furthermore, it was later reported that Russian forces recaptured three more settlements in the Kursk region.
OTHER
North Korea’s Foreign Ministry said US and South Korean military exercises are a dangerous provocative act, according to KCNA. It was separately reported that North Korea unveiled a nuclear-powered submarine under construction for the first time which appears capable of carrying 10 missiles, according to Nikkei.
CRYPTO
Bitcoin is on the backfoot and trades around USD 82k whilst Ethereum moves towards the USD 2k mark.
APAC TRADE
APAC stocks began the week mixed amid tariff-related concerns and as participants digested the softer-than-expected Chinese inflation data from over the weekend.
ASX 200 eked mild gains with outperformance seen in energy, resources and materials but with the upside capped by weakness in defensives and the economic concerns related to Australia’s largest trading partner.
Nikkei 225 gradually shrugged off the initial indecisiveness and clawed back early losses to reclaim the 37,000 status as participants digested data releases including the slower-than-forecast growth in Labour Cash Earnings.
Hang Seng and Shanghai Comp retreated amid deflationary headwinds after CPI data slipped into negative territory for the first time in over a year, while tariff concerns lingered as China’s retaliatory tariffs against the US’s March 4th additional tariffs took effect today.
NOTABLE ASIA-PAC HEADLINES
Deputy to China’s National People’s Congress (NPC) says China’s “around 5%” GDP target for 2025 is certainly challenging and by no means an easy feat, via Global Times. Tian said one of China’s biggest challenges is insufficient domestic demand but believes the government’s plans, such as increasing the budget deficit to support higher government spending, issuing ultra-long special treasury bonds, and improving investment efficiency will help address the issues.
China’s Housing Minister said market confidence has been enhanced and the property market shows positive changes, while they will step up lending for ‘White list’ property projects and promote the purchase of existing housing stocks. China will give more autonomy to local governments in purchasing housing stocks for affordable housing and part of China’s local government special bonds will be used for purchasing land and housing stocks.
China’s Human Resources Minister said they face an arduous task to stabilise and expand employment in 2025 and the external environment for employment could become more complex and severe but added that the employment situation is generally stable. Furthermore, China will step up resources and funding to support employment and will prepare to roll out new policies to support employment.
South Korean prosecutors decided not to appeal President Yoon’s release.
Acer (2353 TW) Feb Revenue TWD 17.07bln.
Key Japanese government panel members called for vigilance to risks of rising inflation hurting the economy.
2c Asian report
Bunds slip as coalition talks progress and Trump tariff threats persist – Newsquawk Europe Market Open
Monday, Mar 10, 2025 – 02:19 AM
APAC stocks began the week mixed amid tariff-related concerns and as participants digested the softer-than-expected Chinese inflation data.
US House Republicans unveiled a stopgap funding bill to keep the government funded through September 30th.
US President Trump said on Friday regarding Canada that he may do reciprocal tariffs as early as Friday or Monday; added the EU has been a terrible abuser.
European equity futures indicate a higher cash market open with Euro Stoxx 50 future up 0.7% after the cash market closed lower by 0.9% on Friday.
DXY is a touch firmer, EUR/USD remains on a 1.08 handle, JPY is the marginal outperformer across the majors.
Leaders of Germany’s CDU/CSU and SPD said they have completed preliminary talks on forming a coalition government.
Looking ahead, highlights include German Industrial Production & Trade Balance, EU Sentix Index, US Employment Trends, NY Fed SCE, Chinese M2 Money Supply, ECB Survey of Monetary Analysts, RBNZ’s Hawkesby.
US clocks moved forward by an hour to Daylight Saving Time, meaning there is now just a four-hour time difference between London and New York for the next three weeks.
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US TRADE
EQUITIES
US stocks closed in the green on Friday but the steep decline for the week remained intact amid US growth concerns and continued tariff uncertainty in what was a heavy headline day with a deluge of risk events including the US jobs report and comments from Fed Chair Powell. The jobs data showed headline NFPs missed forecasts and the unemployment rate unexpectedly ticked higher with tremendous uncertainty ahead due to the government job cut efforts from the DOGE. Meanwhile, Fed Chair Powell largely reiterated his messaging from January and February, stressing the Fed is not in a rush to adjust policy with uncertainty ahead, but the economy remains in a good place.
SPX +0.55% at 5,770, NDX +0.74% at 20,201, DJI +0.52% at 42,802, RUT +0.43% at 2,075.
US President Trump said on Friday regarding Canada that he may do reciprocal tariffs as early as Friday or Monday, while he added the EU has been a terrible abuser on tariffs and India has agreed to cut tariffs way down.
US Commerce Secretary Lutnick said President Trump will not ease up on fentanyl-related tariffs and that tariffs will come off if fentanyl ends, while he noted steel and aluminium tariffs take effect on Wednesday and they will revisit fentanyl and reciprocal trade issues on April 2nd.
Incoming Canadian PM Carney vowed to discover new trade partners and ensure borders, while they will keep tariffs on the US until Americans show them respect. Carney said they cannot let Trump succeed and will ensure that all proceeds from tariffs will be used to protect their workers.
Canadian Finance Minister LeBlanc said Canada is ready for an immediate review of the USMCA trade agreement and there is still room for talks on steel and aluminium tariffs.
China’s MOFCOM said it will impose tariffs on some imports from Canada in retaliation for Canadian tariffs on Chinese goods effective March 20th in which it will impose 100% tariffs on Canadian rapeseed oil imports and 25% on port and seafood imports, while it will impose additional tariffs on some other Canadian goods.
South Korean Acting President Choi ordered to communicate actively with the US about tariff rates and will consult with the US about cooperation in shipbuilding and energy sectors, while they are to review non-tariff measures related to US reciprocal tariffs.
NOTABLE HEADLINES
Fed Chair Powell reiterated on Friday that the Fed does not need to be in a hurry to adjust rates and uncertainty around Trump administration policies and their economic effects remains high. Powell said the Fed is well positioned to wait for greater clarity and repeated that Fed policy is not on a preset course, as well as noted that they can maintain policy restraint for longer if inflation progress stalls, or ease if the labour market unexpectedly weakens or inflation falls more than expected.
Fed’s Kugler (Voter) said on Friday that she sees steady policy for some time on recent inflation data, as well as stated that the February jobs number was a ‘solid number’ and hiring remains above the breakeven level, while she isn’t that worried about the small uptick in the unemployment rate.
Fed’s Daly (2027 voter) suggested that economic research shows uncertainty is a source of demand restraint and noted there are plenty of signs that the economy is solid but the market is giving mixed signals which is the reason monetary policy should be careful and deliberate, while she added that the Fed has rates in a good place.
US President Trump said he will pick the Federal Reserve Vice Chairman for Bank Supervision fairly soon It was also reported that Trump declined to predict whether the US could face a recession amid stock market concerns about his tariff actions on Mexico, Canada and China over fentanyl, while he said tariffs on Mexico and Canada could go up, according to Reuters citing an interview with Fox News.
US House Republicans unveiled a stopgap funding bill that would keep the government funded through September 30th. It was later reported that President Trump said the House and Senate have put together a very good funding bill and he urges Republicans to vote for it in the week ahead.
APAC TRADE
EQUITIES
APAC stocks began the week mixed amid tariff-related concerns and as participants digested the softer-than-expected Chinese inflation data from over the weekend.
ASX 200 eked mild gains with outperformance seen in energy, resources and materials but with the upside capped by weakness in defensives and the economic concerns related to Australia’s largest trading partner.
Nikkei 225 gradually shrugged off the initial indecisiveness and clawed back early losses to reclaim the 37,000 status as participants digested data releases including the slower-than-forecast growth in Labour Cash Earnings.
Hang Seng and Shanghai Comp retreated amid deflationary headwinds after CPI data slipped into negative territory for the first time in over a year, while tariff concerns lingered as China’s retaliatory tariffs against the US’s March 4th additional tariffs took effect today.
US equity futures (ES -0.5%, NQ -0.6%) were pressured at the reopen amid tariff and growth concerns after Commerce Secretary Lutnick recently commented that President Trump will not ease up on fentanyl-related tariffs and that steel and aluminium tariffs will take effect on Wednesday, while President Trump declined to predict whether the US could face a recession amid stock market concerns about his tariff actions and also said that tariffs on Mexico and Canada could go up.
European equity futures indicate a higher cash market open with Euro Stoxx 50 future up 0.7% after the cash market closed lower by 0.9% on Friday.
FX
DXY dollar marginally strengthened in quiet trade amid the mixed performance in its major counterparts and in the aftermath of last Friday’s NFP miss. Furthermore, the Fed has entered into a Blackout period although there were some comments late on Friday from Fed’s Daly who suggested they should be careful and deliberate with monetary policy, while the focus this week for the US turns to CPI data on Wednesday.
EUR/USD faded its initial mild gains in rangebound trade with few pertinent drivers to spur the single currency.
GBP/USD slightly softened towards the 1.2900 level in quiet UK-specific newsflow and with an almost non-existent data release schedule for the UK for most of this week leading up to the monthly GDP estimates due on Friday.
USD/JPY retreated but then bounced off lows with price action at the whim of the choppy risk sentiment in Tokyo.
Antipodeans remained afloat but with the upside capped amid the mixed risk appetite and weakness in the yuan following deflationary Chinese data.
PBoC set USD/CNY mid-point at 7.1733 vs exp. 7.2355 (Prev. 7.1705).
Former Central Banker Mark Carney won the Liberal Party race to become the next Canadian PM, according to official results cited by Reuters.
FIXED INCOME
10yr UST futures gained at the reopening of futures trading in tandem with the pressure in US equity futures amid tariff concerns and soft Chinese inflation data from over the weekend.
Bund futures remained pressured and printed fresh contract lows after last week’s slide, while participants now await the latest German Industrial Production and Trade data.
10yr JGB futures were subdued and failed to benefit from the slower-than-expected growth in Labour Cash Earnings with demand hampered amid a recovery in Tokyo risk sentiment and following weaker-than-previous results from this month’s 5yr JGB auction.
COMMODITIES
Crude futures were lacklustre amid the mixed risk tone and following the soft China inflation data.
Iraq set the April Basrah medium crude official selling price to Asia at plus USD 2.15/bbl vs Oman/Dubai and the OSP to Europe at minus USD 1.50/bbl vs Dated Brent, while it set the OSP to North and South America at minus USD 0.65/bbl vs ASCI, according to SOMO.
US Treasury was reported on Friday to be examining options for easing energy sanctions on Russia only if Russia and Ukraine reach a peace deal, according to Reuters citing sources. It was also reported that President Trump’s team was weighing ending the oil price cap if Russian talks progressed, according to Bloomberg.
Spot gold traded rangebound amid mild dollar strength and a lack of pertinent catalysts for the precious metal.
Copper futures trickled lower amid the weakness in China due to the ongoing tariff war and deflationary data.
US is in exploratory talks with Congo about a potential minerals deal, according to FT.
CRYPTO
Bitcoin found some relief overnight after retreating throughout the weekend to near the USD 80,000 level.
NOTABLE ASIA-PAC HEADLINES
China’s Housing Minister said market confidence has been enhanced and the property market shows positive changes, while they will step up lending for ‘White list’ property projects and promote the purchase of existing housing stocks. China will give more autonomy to local governments in purchasing housing stocks for affordable housing and part of China’s local government special bonds will be used for purchasing land and housing stocks.
China’s Human Resources Minister said they face an arduous task to stabilise and expand employment in 2025 and the external environment for employment could become more complex and severe but added that the employment situation is generally stable. Furthermore, China will step up resources and funding to support employment and will prepare to roll out new policies to support employment.
South Korean prosecutors decided not to appeal President Yoon’s release.
DATA RECAP
Chinese CPI MM (Feb) -0.2% vs. Exp. -0.1% (Prev. 0.7%)
Chinese CPI YY (Feb) -0.7% vs. Exp. -0.5% (Prev. 0.5%)
Chinese PPI YY (Feb) -2.2% vs. Exp. -2.1% (Prev. -2.3%)
GEOPOLITICS
MIDDLE EAST
Israel’s Energy Minister ordered the stoppage of electricity transmission to Gaza, according to Israeli broadcaster Kan.
Hamas said there are positive indicators over negotiations for the second phase of the Gaza ceasefire deal, while it noted its delegation met Egypt’s spy chief in Cairo to discuss the Gaza ceasefire and it urged commitment to all the Gaza ceasefire deal’s articles and the immediate start of talks for the second phase. It was separately reported that a Hamas official said the group is open to releasing American-Israeli hostage Edan Alexander as part of talks to end the Gaza war, according to Al-Aqsa TV.
US hostage envoy Boehler said meetings with Hamas leaders in recent days were very helpful and that something could come together within weeks on Gaza and hostages, while he thinks all prisoners could get out not just Americans.
France, Germany, Italy and Britain said they welcome the Arab plan for Gaza reconstruction which they said shows a realistic path to reconstruction of Gaza and are committed to working with the Arab initiative.
US State Department has not renewed a waiver for Iraq to buy Iranian electricity and noted the decision ensures the US does not allow Iran any degree of economic relief. It was separately reported that the Iraqi PM’s Foreign Affairs advisor Alaaldin said non-renewal of US sanctions waiver for Iraq to purchase Iranian energy presents temporary operational challenges, while Iraq is committed to its strategic goal of achieving energy self-sufficiency.
Iran Supreme Leader Khamenei said Tehran will not negotiate under pressure from a bullying country and will never accept demands to curb its missile program. It was separately reported that the White House reiterated that Iran’s nuclear concern can be dealt with by making a deal or militarily, while it hopes the Iranian regime puts its people and best interests ahead of terror.
Iran’s mission to the UN said talks on the potential militarisation of Iran’s nuclear program may be considered and Iran will not discuss the dismantlement of its nuclear program.
Joint naval drills between Iran, Russia and China will begin on Monday in the Chabahar region of Iran.
US and Russia ask UN Security Council to meet on Monday regarding escalating Syria violence It was separately reported that UN rights chief Volcker Turk said the killing of civilians in coastal areas in northwest Syria must cease immediately.
UK Foreign Secretary Lammy said reports that a large number of civilians have been killed in coastal areas in Syria in ongoing violence are horrific and authorities in Damascus must ensure the protection of all Syrians and set out a clear path to justice.
Syrian leader Sharaa said Syria is confronting attempts to drag it into a civil war and that remnants of the former regime have no choice but to surrender immediately, while he added that Syria will not allow any external or local forces to drag it into chaos or civil war.
RUSSIA-UKRAINE
US President Trump said Ukraine will sign the minerals deal but needs to show more willingness for peace, while Trump also stated they are looking at a lot of things with respect to tariffs on Russia and will make a lot of progress this week, while he is expecting good results coming out of Saudi on Ukraine and stated they have just about lifted the intelligence pause on Ukraine.
Russian Defence Ministry said it has taken one village in Russia’s Kursk region and another in Ukraine’s Sumy region, while Russia also said it has taken the village of Kostyantynopil in eastern Ukraine’s Donetsk region. Furthermore, it was later reported that Russian forces recaptured three more settlements in the Kursk region.
OTHER
North Korea’s Foreign Ministry said US and South Korean military exercises are a dangerous provocative act, according to KCNA. It was separately reported that North Korea unveiled a nuclear-powered submarine under construction for the first time which appears capable of carrying 10 missiles, according to Nikkei.
EU/UK
NOTABLE HEADLINES
Leaders of Germany’s CDU/CSU and SPD said they have completed preliminary talks on forming a coalition government.
S&P affirmed Norway at ‘AAA’; Outlook Stable.
3 .ASIA
3A NORTH KOREA/SOUTH KOREA
3BJAPAN
3C. CHINA/
CHINA
China Slumps Into Deflation Again, With First Negative Core CPI Print Since 2021
Sunday, Mar 09, 2025 – 02:35 PM
After a year of modest, barely perceptible inflation, China’s CPI tumbled back far more than expected to fall below zero for the first time in 13 months, an assessment skewed by seasonal distortions but also a sign of deflationary pressures persisting in the economy. Here is the summary:
CPI: -0.7% yoy (-3.5% mom annualized*) in February vs. Bloomberg consensus: -0.4% yoy; January: +0.5% yoy (-1.7% mom annualized).
Food: -3.3% yoy in February (-13.1% mom annualized*) vs. +0.4% yoy in January.
Non-food: -0.1% yoy in February (-2.1% mom annualized*) vs. +0.5% yoy in January.
PPI: -2.2% yoy in February (-1.3% mom annualized*) vs. GS: -2.2% yoy, Bloomberg consensus: -2.1% yoy; January: -2.3% yoy (-0.8% mom annualized).
In February, China’s headline CPI inflation fell to -0.7% yoy from +0.5% yoy in January, driven by lower food prices and tourism-related services prices partly driven by an earlier-than-usual Lunar New Year holiday. Goldman estimates suggest the earlier holiday (January 29 vs. February 10 in 2024) reduced year-over-year headline CPI inflation by 0.7% in February. In month-on-month terms, headline CPI inflation fell to -3.5% (annualized, seasonally adjusted) in February (vs. -1.7% mom s.a. annualized in January).
Even when adjusted for the effect of an earlier-than-usual Lunar New Year holiday, consumer inflation slowed to among the weakest levels in months, according to a Goldman report (available to pro subscribers in the usual place). A decline in services prices, combined with a rare negative reading for core inflation, were among symptoms of sluggish consumption.
More shocking was that China’s core CPI, which excludes volatile items such as food and energy, decreased for the first time since 2021 with a drop of 0.1%, and only the second time the gauge has contracted over more than 15 years. Factory deflation extended into a 29th month.
“China’s economy still faces deflationary pressure,” said Zhiwei Zhang, president and chief economist at Pinpoint Asset Management. “Domestic demand remains weak.”
The statistics bureau said a key factor for the decline in inflation was the effect of a high base from a year earlier, created by elevated prices caused by spending during the Lunar New Year. The festival is a moving holiday that fell entirely in February 2024 but ran from Jan. 28 to Feb. 4 this year.
When accounting for seasonality, the statistics bureau estimates consumer inflation actually rose 0.1% from a year earlier in February, according to a statement published on Sunday. Goldman economists estimate the earlier holiday brought year-over-year CPI inflation down by 0.7% in February, so roughly a wash.
Some more details courtesy of Goldman:
In year-over-year terms, food inflation dropped to -3.3% yoy in February from +0.4% yoy in January. The sharp decline of food inflation was mainly due to 1) lower food prices on decreased seasonal demand after the Lunar New Year holiday and 2) increased supply of fresh vegetables from warmer weather compared to a year ago.
Among major food items, pork prices rose by +4.1% yoy in February (vs. +13.8% yoy in January). Fresh vegetable prices fell by 12.6% yoy in February (vs. +2.4% yoy in January), and fresh fruit prices declined by 1.8% yoy in February (vs. +0.6% yoy in January).
Non-food CPI inflation moderated to -0.1% yoy in February from +0.5% yoy in January. The fall of nonfood CPI inflation was mainly driven by lower tourism-related services prices in February, due to the distortions from timing of Lunar New year holiday.
For example, transportation services prices fell 3.9% yoy in February (vs. +2.9% yoy in January). Fuel costs fell by 1.2% yoy in February (vs. -0.6% yoy in January), on the falling crude oil prices. After excluding food and energy prices, core CPI inflation fell to -0.1% yoy in February (vs. +0.6% in January). Services inflation declined materially to -0.4% yoy in February from +1.1% in January.
Year-over-year PPI inflation edged up to -2.2% yoy in February (vs. -2.2% yoy in January). In month-over-month terms, PPI inflation declined to -1.3% (annualized, seasonally adjusted) in February (vs. -0.8% in January). PPI inflation in producer goods edged up to -2.5% yoy in February (vs. -2.6% yoy in January), and PPI inflation in consumer goods was flat at -1.2% yoy in February.
A clearer read on China’s inflation trajectory will emerge in March, as investors look for signs that the government’s stimulus is translating into stronger domestic demand. The country is on track for the longest streak of economy-wide price declines since the 1960s as a result of weak spending, while the property crash has yet to bottom out.
China has set its inflation target at the lowest level in over 20 years and now aims to bring consumer-price growth to around 2% in 2025 — down from the previous 3% target. It’s a signal top leaders are finally recognizing the deflationary pressures weighing on the world’s second-largest economy, with consumer inflation stuck at just 0.2% for the past two years.
Even so, it is unclear what miraculous stimulus China will unleash – monetary or fiscal – to send core inflation soaring to 2% in the coming 10 months.
Urgency has grown for the government to reflate the economy. At the annual parliament session Wednesday, China announced an ambitious economic growth goal of about 5% for 2025, despite the threat of an intensifying trade war with the US. Beijing also laid out plans to boost fiscal stimulus and domestic consumption.
Americans Can No Longer Tolerate European Entitlement | ZeroHedge
This is a feeling that is growing quickly.
It is a pity. However maybe it is time for both parties to reset the relationship. The past is gone.
This is perhaps the most fundamental and significant event since WWII. Neither Zelensky or his colleagues nor his sponsors have grasped what is happening.
This divide which was coming for a long time is out in the open and will continue. Talk of troop withdrawal from Europe and a departure from NATO is all being discussed.
What comes to be for Europe will change Europe as it will change the relationship. Yes, trade and finance will continue but it will be seen with different eyes and views.
This will in turn have global implications in trade and finance for many parties.
There’s something I need to say and I need to be blunt.
So let me start by saying I love Europe. Truly love Europe. I love visiting Europe, I love Europeans, I have European friends. I respect the relationship we’ve had for a really long time.
You Europeans do not respect Americans. You can protest and say, no, no, we love America. No, you don’t. We know you look down on us. You think you’re better than us. And in some ways you are. You know, you work 35 hours a week. You have longer vacations. You’ve got this magnificent culture. We get it. But any relationship in which one side doesn’t respect the other can’t last.
It’s this thing where Ukraine comes to the White House and acts like it can tell us what we should do.
That’s not what the relationship is.
This thing where somehow we’re on the hook, including for countries that are not in NATO. That was never the deal. Ukraine is not part of NATO. We were never obligated to protect Ukraine.
Maybe that was something that Europe wants to do that. Great. Go. Europe should go protect Ukraine.
We have no NATO agreement with Ukraine. And this thing where Zelensky then goes and quotes all these other European leaders. They’re with me, not with the United States. Great. Go, go, go work together.
We have 100,000 Americans being killed by the Chinese and Mexican fentanyl and methamphetamine mafias every year. Our kids are not learning to read. We have thousands of veterans with PTSD and are hurting. We have been at war in the Middle East for a quarter century. It’s been 80 years since we bailed out Europe. You have your own militaries. You have your own nuclear weapons. I’ve been trying to be really indirect about this for years.
I’ve been trying to be soft peddling that you guys don’t get it. Europeans do not get it. You guys think that this relationship is going to last forever. You think that because something’s written down on a piece of paper, it’s going to last forever. Americans have voted against this multiple times. This is not about what you think of Trump or like Trump. People on the left, on the right, they do not want to be in a nuclear war with Russia.
How can we explain this to you?
We do not want to continue to be in the Ukraine war. We want peace.
Our natural inclination is to actually not get involved in conflicts in Europe and Asia We didn’t want to have to continue to intervene after World War II. I get it, but times have changed. We’re ready to move on.
We bear a lot of responsibility for this. The United States bears a lot of responsibility for this.
Our people, our administrations, our think tanks told Zelensky and told the Europeans that we were loyal to that alliance, that we were going to stick with them. No, the American people are not on board with that. Again, the left has traditionally been against those kinds of military entanglements. Now the right is, but a lot of the left is too. A lot of Democrats, a lot of liberals. I would love an orderly transition here, but the behavior that we’re seeing coming out of European leaders and out of Zelensky just now in the Oval Office suggests that the relationship is over. We’ll reset the relationship afterwards.
We’re going to have a trade. We’re going to visit each other. It’s great. But this thing of this entitlement, I don’t think Europeans understand how angry it makes us. I don’t think Europeans really understand how much Americans want to deal with our problems. We go to Europe. You have universal healthcare. You work 35 hours a week. You retire at a young age. You don’t work nearly as hard as we do in the United States. You have many more benefits in Large part because we pay for all of your security or a large part of it. And in return, we just get disrespect, entitlement, like your children.
This is a dysfunctional relationship. It needs to end. It needs to change. Maybe there’s a transition period something, but this has gone too far. I think that the anger that you saw in the White House with Trump in advance with Zelensky holding his arms, rolling his eyes, acting like he was telling us what the deal was. No, that’s not a Republican, Democrat, whatever thing. That is not how we’re going to be treated by people that we’re helping.
So it’s time to grow up. It’s time for the relationship to change.
Healthy relationships depend on mutual respect. Ukraine and Europe don’t respect us; they look down on us. America never had any obligation to protect Ukraine. And now we’re asking why we should continue to spend our money, and put our lives on the line, to protect Europe. pic.twitter.com/XgdfDogPfO— Michael Shellenberger (@shellenberger) February 28, 2025
5 RUSSIAN AND MIDDLE EASTERN AFFAIRS
ISRAEL HAMAS/USA//
:Hamas claims ‘positive indicators’ for new ceasefire talks with Israel
Hamas signals readiness for ceasefire talks as Trump pressures for hostage release.
Hamas sees “positive indicators” for launching talks over the second phase of Gaza ceasefire and hostage deal talks, the Palestinian terrorist group’s spokesperson said in a statement on Saturday.
The statement came after US officials held direct talks with Hamas in Doha about releasing more American hostages, The Jerusalem Post.
However, Israeli officials weren’t overly enthusiastic about the talks.
ISRAEL/HAMAS
Israel to stop supplying electricity to Gaza, Energy Minister Eli Cohen announces
Israel’s step-by-step plan to pressure Hamas began with blocking the entry of goods and supplies into Gaza.
A man hangs a Palestinian flag at an electric pole near the border with Israel, in the southern Gaza Strip, March 28, 2018(photo credit: REUTERS/IBRAHEEM ABU MUSTAFA)
Israel will stop supplying electricity to Gaza “immediately,” Energy Minister Eli Cohen announced on Sunday.
“We will activate every tool we have to ensure our hostages return home and Hamas is not in Gaza after the war,” he said.
Cohen signed the order to stop the flow of electricity to Gaza shortly after the announcement.
END
Israel Cuts Gaza Electricity Supply As Truce Falters
Sunday, Mar 09, 2025 – 06:40 PM
Is a new Israel Defense Forces (IDF) assault on the Gaza Strip imminent? Israel has on Sunday cut all electricity to the Strip, in a move which typically signals some kind of escalation in military operations.
Eli Cohen, Israel’s energy minister announced in a video message that Israel would use “all means available … to ensure the return of all Israeli hostages” and to force Hamas out of Gaza.
“I just signed an order for the immediate halt of electricity to the Gaza Strip,” Cohen confirmed. There had already long been lengthy blackouts throughout the Hamas-Israel war.
Hardline Israeli politician Itamar Ben Gvir praised the move:
“The Gaza Strip must be completely and immediately blacked out as long as even one Israeli hostage is being held there,” he said.
“Israel must bomb the huge fuel depots that entered the Strip as part of the unfortunate deal, as well as the generators operated by Hamas.”
Some 2.3 million Palestinians are in the Gaza Strip, and those that have electricity supplies are mostly reliant on generators. The scant remaining supplies going into the Strip have effectively been cut by Israeli authorities.
Hamas is demanding access to all resources, and the return of humanitarian shipments from outside countries and international organizations.
“We call on mediators in Egypt and Qatar, as well as the guarantors in the US administration, to ensure that [Israel] complies with the agreement … and proceeds with the second phase according to the agreed-upon terms,” Hamas spokesperson, Hazem Qassem, told Agence France-Presse.
The White House seems to have grown more quiet on pushing the controversial Trump plan to push all Palestinians out of Gaza in order to build a “Rivera on the Mediterranean”.
Still, Trump has warned there will be “hell” to pay if all Israeli captives aren’t released. Media estimates commonly say the following of those that remain:
Fifty-nine hostages are thought to remain in Gaza, more than half of whom are thought to be dead, according to the Israeli Prime Minister’s Office. Five of the 59 are American Israelis, only one of whom – Edan Alexander – is still alive.
On Sunday, senior Hamas official Taher Al Nunu was quoted by Al Aqsa TV – a channel affiliated to the militant group – as saying that it did not oppose releasing Alexander as part of negotiations to end the war.
A phase one ceasefire deal has held and been completed, but it’s an open question whether it will hold into a phase two. For now, the guns have still remained silent, and there is an uneasy truce.
ISRAEL/HAMAS
Witkoff expected to join Doha hostage deal talks; Hamas confirms several meetings with US
Israeli official says headway made since unprecedented direct discussions between Washington and terror group; US plan said to propose 10 hostages freed for 60-day truce
Steve Witkoff, White House special envoy for the Middle East, speaks with reporters at the White House, March 6, 2025, in Washington. (AP Photo/Alex Brandon)
US special envoy to the Middle East Steve Witkoff is expected to travel to Doha this week amid efforts to extend the ceasefire and hostage release deal between Israel and Hamas, Axios said Saturday, with reports coming of progress in negotiations.
Meanwhile, an Israel official told the Kan public broadcaster on Sunday that some advancement toward the continuation of the deal had been made during a meeting between US hostage envoy Adam Boehler and a senior Hamas delegation led by Khalil al-Hayya last week.
Several meetings had taken place between leaders of Hamas and Boehler, Taher Al-Nono, the political adviser of the Hamas chief, confirmed to Reuters on Sunday.
Meanwhile, Israel has announced that a negotiating team will depart for Qatar on Monday at “the invitation of the mediators backed by the US.”
According to Axios, the Trump administration hopes to extend the first phase of the previously agreed-upon hostage deal, which ended last Saturday, through the Muslim holy month of Ramadan and until the end of the Jewish holiday of Passover on April 19. The report cited two US officials familiar with the matter.
Kan news on Saturday cited a senior Israeli source as confirming a Sky News Arabia report from last week that the US was offering Hamas a deal in which 10 living Israeli hostages would be released in exchange for a 60-day ceasefire. Hours later, the Saudi Al Hadath network reported that Hamas had agreed to the principle of releasing some living hostages in exchange for a two-month extension to the first phase of the ceasefire in Gaza.
People look at posters of hostages held by Hamas in the Gaza Strip, in Tel Aviv, March 8, 2025. (Itai Ron/Flash90)
The reported proposals appear to be in line with a plan that Israel has endorsed, but which the terror group had so far rejected in favor of pursuing the terms of a potential second phase of the deal, which would require Israel to withdraw fully from Gaza and agree to a permanent end to the war in exchange for the remaining living hostages. Israel has sought to extend the first phase to enable further hostage releases without committing to an end to the war.
Israel has avoided publicly criticizing the Trump administration over its unprecedented direct talks with Hamas, but Netanyahu’s office issued a terse statement on Wednesday that more than hinted at its opposition. “Israel has expressed to the United States its position regarding direct talks with Hamas,” the statement read.
Strategic Affairs Minister Ron Dermer “lashed out” at Boehler Tuesday in a phone call for conducting a meeting over the number of Palestinian prisoners Israel would release in exchange for the five Israeli-American hostages still in Gaza, one of them alive and four believed dead, without Netanyahu’s consent, a Western official told The Times of Israel Friday.
Israel is “barely involved” and the talks with Hamas are occurring “over Israel’s head,” Kan reported Saturday.
On Sunday, Netanyahu will convene his cabinet, and later his security cabinet, to discuss the path forward, as 59 hostages remain in Gaza, up to 24 of them still alive.
The Wall Street Journal reported over the weekend that Israel has plans for an escalatory campaign against Hamas if Netanyahu eventually decides that hostage talks with Hamas are fruitless or that the terror groups’ demands are too high.
The report pointed at Israel possibly cutting off electricity and water as a next stage, after it halted aid shipments into the Strip.
Citing an “Israeli security analyst briefed on the plan,” the WSJ said that Israel could use airstrikes and raids. The analyst added that the following stage could be military forces once again pushing Palestinians out of northern Gaza.
A sprawling tent camp for displaced Palestinians sits adjacent to destroyed homes and buildings in Gaza City, Gaza Strip, March 1, 2025 during the Muslim holy month of Ramadan. (AP Photo/Abdel Kareem Hana)
The 59 hostages held by terror groups in Gaza include 58 of the 251 abducted by Hamas-led terrorists on October 7, 2023. They include the bodies of at least 35 confirmed dead by the IDF.
Hamas has so far released 30 hostages — 20 Israeli civilians, five soldiers, and five Thai nationals — and the bodies of eight slain Israeli captives during a ceasefire that began in January. The terror group freed 105 civilians during a weeklong truce in late November 2023, and four hostages were released before that in the early weeks of the war.
Eight hostages have been rescued from captivity by troops alive, and the bodies of 41 have also been recovered, including three mistakenly killed by the Israeli military as they tried to escape their captors, and the body of a soldier who was killed in 2014.
The body of another soldier killed in 2014, Lt. Hadar Goldin, is still being held by Hamas, and is counted among the 59 hostages.
Steve Witkoff, White House special envoy for the Middle East, speaks with reporters at the White House, March 6, 2025, in Washington. (AP/Alex Brandon)
US Middle East envoy Steve Witkoff says a “starter” for moving forward on a ceasefire deal between Israel and Hamas is the terror group demilitarizing and leaving Gaza.
Speaking on Fox News before he flies to Qatar for talks with Israel and Hamas, Witkoff says Hamas has “no alternative” other than disarming and leaving the Gaza Strip.
“If they leave, then all things are on the table for a negotiated peace, and that’s what they’ll need to do,” he says.
“We need deadlines” for an agreement on the next phase in a deal, says Witkoff, adding that the conditions the hostages are being held in are “unacceptable” and “deplorable.”
He also praises Qatar for its mediation, saying it has been “outstanding.”
END
ISRAEL/HEZBOLLAH/LEBANON
IAF strikes Hezbollah terrorist in southern Lebanon
The IAF struck a Hezbollah terrorist who was engaged in re-establishing terrorist infrastructure and directing Hezbollah terror activities in southern Lebanon, the military announced on Saturday.
According to Lebanese reports, the strike took place between Kherbet Selem and al-Sawana.Top ArticlesRead More
The IDF said in a statement that an IAF aircraft had struck the terrorist in southern Lebanon, and that it would continue to act for Israel’s safety.
“The IDF will continue to act to eliminate threats to the State of Israel and prevent any attempts by Hezbollah to rebuild and establish itself,” the military wrote in a statement.
END
ISRAEL SYRIA
UK Lifts Sanctions On Jolani Regime As His Army Barrel-Bombs Civilians
The UK has lifted sanctions on 24 Syrian entities, including the central bank, in a landmark move that could be a turning point for Syria’s devastated economy. Britain has become the first country to unfreeze all assets of the Central Bank of Syria.
The state airline and state-owned oil companies are amongst other previously sanctioned entities removed from the sanctions list on Thursday afternoon. “This approach underscores our commitment to help the people of Syria rebuild their country and economy, including through support for a Syrian-led and Syrian-owned political transition process,” a UK government spokesperson said. “We will continue to judge Syria’s interim authorities by their actions, not their words.”
The new Syrian government inherited a daunting economic crisis from Bashar al-Assad’s government, which was toppled in December.
Government corruption, devastating conflict and crippling international sanctions all contributed to wrecking Syria’s economy under Assad. According to the UN, nine out of 10 Syrians live in poverty.
On December 17, interim President Ahmed al-Sharaa [al-Qaeda name: Abu Mohammad al-Jolani] urged Britain and other countries to lift all the sanctions that had been imposed on the country under Assad.
“They should lift all restrictions which were imposed on the flogger and the victim. The flogger is gone now. This issue is not up for negotiation,” he said.
‘Desperately needs a boost’
The UK’s major policy shift could bring new opportunities for Syria, if other nations follow suit. Western countries lifting sanctions could help stabilise the Syrian economy and facilitate foreign investment.
The Syrian government is led by the Hay’at Tahrir al-Sham (HTS), which remains a proscribed terrorist organization in the UK, as well as in the US. Western countries have lifted some sanctions, but have made sanctions relief contingent on political reforms.
In February the European Union partially removed restrictions on the central bank and suspended sanctions on the energy and transport sectors. The US waived a ban on transactions with the Syrian government, facilitating humanitarian aid – but has kept sanctions in place.
As long as US sanctions remain, the material impact of Britain’s move will be limited. But the policy could be a turning point in encouraging other European nations to lift more sanctions.
It is certainly a bold decision from the Labor government, which will be seen to be designing its own Middle East policy, distinct from that of the US.
It comes just days after Turkey’s Deputy Foreign Minister Nuh Yilmaz met Britain’s Middle East Minister Hamish Falconer to discuss Syria’s future, including sanctions and economic development.
Chris Doyle, chair of the Council for Arab-British Understanding, said: “This is a belated if very welcome step by the UK. The Syrian economy desperately needs a boost and removing or easing sanctions is one of the key measures than can assist in this process.”
He added: “Getting Syrians back to productive work, running their businesses, and getting out of a situation of being aid dependent is all part of ensuring a successful transition away from decades of Assad regime rule.”
Watch: HTS militants drop ‘barrel bombs’ on civilians long the Syrian coast amid an ongoing ethno-religions cleansing campaign targeting Alawites(and the MSM remains silent)…
The developments come as the HTS-led government carried out helicopter strikes on Thursday on the former Assad stronghold of Latakia, after fighters loyal to an elite Assad unit killed security personnel.
In the last few weeks, the government has launched extensive campaigns seeking to root out Assad loyalists from his former bastions. It is under further pressure in the southwest, where Israel has occupied a UN-buffer zone and now commands the high ground looking over Damascus.
Israel has also sought to portray itself as a protector of Syria’s Druze community, an ethno-religious minority, in a bid to deepen its foothold in Syria.
Last week, Israeli Prime Minister Benjamin Netanyahu threatened military action to “defend” a suburb three kilometres southeast of Damascus that is home to many Druze.
end
end
SYRIA
530 civilians killed in clashes between Syrian regime and pro-Assad forces, says watchdog
Syrian Observatory for Human Rights describes killings of Alawites as ‘executions’ accompanied by looting; women and children among victims
This handout picture released by the official Syrian Arab News Agency (SANA) on March 8, 2025, shows Syrian forces manning a checkpoint in the coastal city of Latakia. (SANA/AFP)
BEIRUT, Lebanon — A Syria war monitor reported on Saturday that over 530 civilians from the Alawite minority had been killed in recent days by security forces and their allies, as authorities clash with militants loyal to the former government of Bashar al-Assad.
Restoring security has been one of the most complex tasks for Syria’s new authorities, installed after Islamist-led forces ousted Assad — himself an Alawite — in a lightning offensive in December.
They are now facing their fiercest attacks yet by members of the Assad clan’s Alawite minority and have launched a major counter-operation in the ethnic group’s Mediterranean heartland.Jerusalem’s marathon ‘
Deadly clashes on Thursday triggered the security operation, after previous tensions in the area.
The Syrian Observatory for Human Rights, a UK-based monitor of unclear funding, reported on Saturday that “532 Alawite civilians were killed in the coastal regions of Syria and the Latakia mountains by security forces and allied groups” since then.
The Observatory indicated they were killed in “executions” carried out by security personnel or pro-government fighters and accompanied by “looting of homes and properties.”
This handout picture released by the official Syrian Arab News Agency (SANA) shows Syrians attending the funeral of people killed in clashes the previous day between government forces and militants loyal to deposed ruler Bashar al-Assad, on March 7, 2025. (SANA/AFP)
The civilian deaths bring the overall toll to 745 people, including 93 members of the new government’s security forces and 120 pro-Assad fighters, data from the Observatory shows.
The killings followed clashes sparked by the arrest of a wanted individual by security forces in a predominantly Alawite village, the Observatory reported.
The monitor said there had been a “relative return to calm” in the region on Saturday, but security forces were continuing sweeping operations and deploying reinforcements.
Early on Saturday, state news agency SANA reported that the security forces had repelled an “attack by remnants of the ousted regime” on the national hospital in the coastal city of Latakia.
Call to surrender
In an address on Friday, Syria’s interim President Ahmed al-Sharaa urged the insurgents to “lay down your weapons and surrender before it’s too late.”
Western powers and Syria’s neighbors have emphasized the need for unity in the new Syria, which is seeking funds for reconstructing a nation ravaged by years of civil war under Assad.
The coastal region has been gripped by fears of reprisals against Alawites for the Assad family’s brutal rule, which included widespread torture and disappearances.
The Britain-based Observatory has reported multiple “massacres” in recent days, with women and children among the dead.
“The vast majority of the victims were summarily executed by elements affiliated to the Ministry of Defense and the Interior,” the rights group said on Friday.
This handout picture released by the Syrian Presidency on February 16, 2025, shows Syria’s interim leader Ahmed al-Sharaa attending a meeting with officials and local leaders in the western coastal city of Latakia. (Syrian Presidency/AFP)
The Observatory and activists released footage showing dozens of bodies in civilian clothing piled outside a house, with blood stains nearby and women wailing.
Other videos appeared to show men in military garb shooting people at close range.
AFP could not independently verify the images.
The United Nations envoy for Syria, Geir Pedersen, decried “very troubling reports of civilian casualties.”
He called on all sides to refrain from actions that could “destabilize Syria and jeopardize a credible and inclusive political transition.”
Syrian army forces make their way to Latakia on March 7, 2025 (Asaad Syria/Flash90)
Aron Lund of the Century International think tank said the violence was “a bad omen.”
The new government lacks the tools, incentives and local base of support to engage with disgruntled Alawites, he said.
“All they have is repressive power, and a lot of that… is made up of jihadist zealots who think Alawites are enemies of God.”
Defense Minister Israel Katz commented on the events on Friday, saying: “[Al-Sharaa] switched his robe for a suit and presented a moderate face. Now he’s taken off the mask and exposed his true face: A jihadist terrorist of the al-Qaeda school who is committing horrifying acts against a civilian population.”
“Israel will defend itself against any threat from Syria,” Katz added, while vowing the military would continue to occupy a buffer zone along the border and keep working to keep southern Syria demilitarized.
END
A BLOODBATH!
West-Backed Jihadists In Syria Massacre Over 1000 Alawite & Christian Men, Women & Children
Saturday, Mar 08, 2025 – 07:05 PM
Update(1905ET): After several days of radical Sunni Islamist militants targeting religious minorities in Syria for mass killings, mainly in coastal areas, the mainstream media has belatedly begun to cover it (as the killings are growing to the point of getting too hard to ignore). Some correspondents estimated that there are thousands dead and wounded, mostly Alawites but also Syrian Christians among them, as post-Assad Syria unravels under Hayat Tahrir al-Sham’s (HTS) Jolani.
“The death toll from two days of clashes between Syrian security forces and loyalists of ousted President Bashar Assad and revenge killings that followed has risen to more than 1,000, a war monitoring group said Saturday, making it one of the deadliest acts of violence since Syria’s conflict began 14 years ago,” The Associated Press reports.
The jihadists, which include foreign fighters as well as ruling HTS members, in some cases are simply going into the homes of non-Sunnis and massacring whole families. The terrorists haven’t been shy about uploading their killings on the internet as well as in livestreams. Men, women, children, and even babies are being brutally murdered.
“The Britain-based Syrian Observatory for Human Rights said in addition to 745 civilians killed, mostly in shootings from close distance, 125 government security force members and 148 militants with armed groups affiliated with Assad were killed. It added that electricity and drinking water were cut off in large areas around the city of Latakia,” AP continues.
But instead of calling out the obvious ethno-religious genocide unfolding, the European Union had the audacity to issue this statement:
The European Union strongly condemns the recent attacks, reportedly by pro-Assad elements, on interim government forces in the coastal areas of Syria and all violence against civilians.
But the truth has been summarized by a priest of the Eastern Orthodox Church, which is the predominant Christian faith of Syria and the Middle East. “As you see the unfolding tragedy in Syria, keep in mind, this is your tax dollars at work. This was brought to you by the US government, the State of Israel, and Turkey. They said Assad was bad. This is what they replaced Assad with,” Priest John Whiteford said on X.
Gruesome images of bodies piled up on streets in and around Latakia have been widely circulating – many of them too disturbing to republish.
Fox has underscored that Tulsi Gabbard was right once again…
Director of National Intelligence Tulsi Gabbard’s warning of a terrorist takeover in Syria looks to be coming true amid reports that al Qaeda-linked terror forces aligned with Syria’s interim new president—a former al Qaeda terrorist—are being accused of massacring Alawites as well as members of the country’s dwindling Christian community.
…At Gabbard’s Senate confirmation hearing she said “I have no love for Assad or any dictator. I just hate al-Qaeda. I hate that our leaders cozy up to Islamist extremists, calling them “rebels”, as Jake Sullivan said to Hillary Clinton, “al Qaeda is on our side in Syria.” Syria is now controlled by al-Qaeda offshoot HTS, led by an Islamist Jihadist who danced in the streets on 9/11, and who was responsible for the killing of many American soldiers.”
So far Damascus has remained relatively quiet, but in areas where there are no media cameras, particularly countryside areas of Syria – the jihadists are going on a murderous rampage. Sadly it looks to get worse.
As Middle East Eye explained earlier, The UK has lifted sanctions on 24 Syrian entities, including the central bank, in a landmark move that could be a turning point for Syria’s devastated economy. Britain has become the first country to unfreeze all assets of the Central Bank of Syria.
The state airline and state-owned oil companies are amongst other previously sanctioned entities removed from the sanctions list on Thursday afternoon. “This approach underscores our commitment to help the people of Syria rebuild their country and economy, including through support for a Syrian-led and Syrian-owned political transition process,” a UK government spokesperson said. “We will continue to judge Syria’s interim authorities by their actions, not their words.”
The new Syrian government inherited a daunting economic crisis from Bashar al-Assad’s government, which was toppled in December.
Government corruption, devastating conflict and crippling international sanctions all contributed to wrecking Syria’s economy under Assad. According to the UN, nine out of 10 Syrians live in poverty.
On December 17, interim President Ahmed al-Sharaa [al-Qaeda name: Abu Mohammad al-Jolani] urged Britain and other countries to lift all the sanctions that had been imposed on the country under Assad.
“They should lift all restrictions which were imposed on the flogger and the victim. The flogger is gone now. This issue is not up for negotiation,” he said.
‘Desperately needs a boost’
The UK’s major policy shift could bring new opportunities for Syria, if other nations follow suit. Western countries lifting sanctions could help stabilise the Syrian economy and facilitate foreign investment.
The Syrian government is led by the Hay’at Tahrir al-Sham (HTS), which remains a proscribed terrorist organization in the UK, as well as in the US. Western countries have lifted some sanctions, but have made sanctions relief contingent on political reforms.
In February the European Union partially removed restrictions on the central bank and suspended sanctions on the energy and transport sectors. The US waived a ban on transactions with the Syrian government, facilitating humanitarian aid – but has kept sanctions in place.
As long as US sanctions remain, the material impact of Britain’s move will be limited. But the policy could be a turning point in encouraging other European nations to lift more sanctions.
It is certainly a bold decision from the Labor government, which will be seen to be designing its own Middle East policy, distinct from that of the US.
It comes just days after Turkey’s Deputy Foreign Minister Nuh Yilmaz met Britain’s Middle East Minister Hamish Falconer to discuss Syria’s future, including sanctions and economic development.
Chris Doyle, chair of the Council for Arab-British Understanding, said: “This is a belated if very welcome step by the UK. The Syrian economy desperately needs a boost and removing or easing sanctions is one of the key measures than can assist in this process.”
He added: “Getting Syrians back to productive work, running their businesses, and getting out of a situation of being aid dependent is all part of ensuring a successful transition away from decades of Assad regime rule.”
Watch: HTS militants drop ‘barrel bombs’ on civilians long the Syrian coast amid an ongoing ethno-religions cleansing campaign targeting Alawites(and the MSM remains silent)…
In the last few weeks, the government has launched extensive campaigns seeking to root out Assad loyalists from his former bastions. It is under further pressure in the southwest, where Israel has occupied a UN-buffer zone and now commands the high ground looking over Damascus.
Israel has also sought to portray itself as a protector of Syria’s Druze community, an ethno-religious minority, in a bid to deepen its foothold in Syria.
Last week, Israeli Prime Minister Benjamin Netanyahu threatened military action to “defend” a suburb three kilometres southeast of Damascus that is home to many Druze.
END
SYRIA/USA
Trump White House Condemns ‘Radical Islamist Terrorists’ Currently Attacking Syria’s Alawites & Christians
by Tyler Durden
Sunday, Mar 09, 2025 – 10:10 PM
The Trump administration on Sunday issued a statement of condemnation in response to the ongoing sectarian killings in Syria under the Jolani regime, which has also included foreign fighters going door to door and killing non-Sunni Muslims and in some instances Christians in and around Latakia on the coast.
The fresh words issued by Secretary of State Marco Rubio call out the “radical Islamist terrorists” and “foreign jihadis” for the murderous rampage targeting the Christian, Druze, Alawite, and Kurdish communities.
As we detailed earlier, since Thursday and Friday over 1,000 civilians have been killed – though some regional correspondents say the numbers could be in the multiple thousands. Much of the atrocities are happening far away from any media cameras, though the jihadists themselves have photographed and filmed many of their brutal crimes.
Rubio’s full statement published to the State Department’s website reads as follows:
“The United States condemns the radical Islamist terrorists, including foreign jihadis, that murdered people in western Syria in recent days. The United States stands with Syria’s religious and ethnic minorities, including its Christian, Druze, Alawite, and Kurdish communities, and offers its condolences to the victims and their families. Syria’s interim authorities must hold the perpetrators of these massacres against Syria’s minority communities accountable.
However, the unfortunate recent history of the war in Syria is that it was Washington arming and training many of the very Sunni Islamist fanatics now doing the killing.
Mostly this was under the Obama administration, with reports that Trump ordered a shutdown of the CIA side of the US program during his first term in office.
Many of these US-backed factions were persecuting and killing Christians, as we’ve also long documented, but following Assad’s ouster on December 8 many Syrian Christians have once again begun fleeing the country as the jihadists now have free reign over all territories previously protected by Assad forces.
The plight of Syria’s Christians has suddenly come back onto the West’s radar, after long being ignored. Tucker Carlson issued the below strong message this weekend:
“During the years that neocons in the west backed the war against Assad, the percentage of Christians in Syria went from ten percent to two percent,” Carlson accurately pointed out.
‘Now that Assad has been driven from power, many of the remaining Syrian Christians are being slaughtered and their holy places desecrated,” he added.
The topic began trending enough to get Elon Musk’s attention…
The jihadists have continued the killings through Sunday – in some cases burning villages, and going into the homes of non-Sunnis and massacring whole families. The terrorists haven’t been shy about uploading their killings on the internet as well as in livestreams. Men, women, children, and even babies are being brutally murdered.
The tragic situation, and the West’s role in it, has been summarized by a cleric of the Eastern Orthodox Church, which is the predominant Christian faith of Syria and the Middle East. “As you see the unfolding tragedy in Syria, keep in mind, this is your tax dollars at work. This was brought to you by the US government, the State of Israel, and Turkey. They said Assad was bad. This is what they replaced Assad with,” Priest John Whiteford said on X.
IRAN
TODAY, We have 931,000 Iranian riyals to the dollar. Last week 920,000.!
‘Know this, Khamenei, this is your end’: Iranians slam regime in footage from Tehran to Israel
While aware of consequences if caught, Iranians sent footage to N12 showing mass income inequality and support for Israel.
A woman walks past a poster showing Iran’s supreme leader, Ayatollah Ali Khamenei and the founder of the Islamic Republic, Ayatollah Ruhollah Khomeini.(photo credit: Atta Kenare/AFP via Getty Images)
Iran’s senior religious leaders and their families lead a lavish lifestyle while the living conditions of a significant part of the population are those of relative poverty, young Iranians revealed in footage sent to Israel.“They live there in homes worth millions of dollars,” one Iranian could be heard saying in the videos published by Channel 12 on Saturday. “We are only allowed to pass by, but we will never be able to become tenants.”A 44-year-old Iranian named Ali noted that the regime gives money to Hamas, Hezbollah, Iraq, Afghanistan – “everyone in the world gets their share from Iran.”Top ArticlesRead More
Conductor Leon Botstein honors unsung composer Josef Tal
“Why should we live in such extreme poverty? Why should I be unemployed now? Why am I not married? Why shouldn’t I have a wife and children?” he said.
“They constantly say ‘Death to America, Death to England’ from all directions, while their children have American, British, and Canadian passports. People are angry at them and troubled by this,” Ali added.
A man rides past a banner with an image of former Hezbollah leader Hassan Nasrallah in central Tehran. September 29, 2024. (credit: Majid Saeedi/Getty Images)
The Iranian who sent the footage greeted Israeli viewers, noting, “It’s not every day that viewers get to see such images of Tehran,” adding they had filmed it with “great difficulty and fear.”
‘If you talk to Israelis, you become a spy.’
Ali, who filmed his underground ride to Tehran’s District 1, where senior officials reside, said he committed a very dangerous act.
If you just talk to Israelis, you become a spy, and they will execute you,” he said.“I have a master’s degree in electronics, and I am unemployed. I have no profession,” he said. “People are tired – Iranian citizens who are exhausted by the Islamic Republic feel uneasy, bored, and submissive.”Ali then brought the viewer to a shopping arcade on Tehran’s exclusive Fereshteh Street, where women are reportedly allowed to walk in public without a hijab.
“I had to film in a way that wouldn’t be noticed. If the image quality isn’t good, I apologize to the honorable people of Israel,” Ali said.“Of all the products, not a single one is under $200 or at least $300,” with only 1% of Iran’s population being able to afford such products, according to Ali.“But why? A country rich in oil, with the second-largest oil reserves in the world, [and] the second-largest gas reserves in the world,” he asked. “This is oil that belongs to everyone, this is gas that belongs to everyone, these are mines that belong to everyone.”
RUSSIA UKRAINE
‘We Can’t Stop Them’ – Thousands Of Ukraine Troops Suddenly Face Encirclement In Russia’s Kursk
Saturday, Mar 08, 2025 – 11:05 AM
The fuse has been burning slowly, but Ukrainian President Volodymyr Zelensky’s risky August invasion of Russia’s Kursk region is about to blow up in his face in spectacular fashion — as thousands of Ukrainian soldiers are suddenly in imminent peril of being encircled, according to open source intelligence analysts. The crisis comes as Zelensky is under increasing US pressure to reach a negotiated end to the war — and a loss of captured Russian territory promises to make his already-deteriorated bargaining position even weaker.
According to DeepStateMAP.live, an interactive map of the war run by Ukrainian military bloggers, their country’s forces in Kursk are nearly cleaved into two, with roughly three-quarters of Ukraine’s forces in Russia almost entirely surrounded on Friday. Their last connection between the two forces was a kilometer long and under 500 meters wide at its thinnest section.
Black Bird Group military analyst Pasi Paroinen summed up the state of affairs for Reuters:
“The situation (for Ukraine in Kursk) is very bad. Now there is not much left until Ukrainian forces will either be encircled or forced to withdraw. And withdrawal would mean running a dangerous gauntlet, where the forces would be constantly threatened by Russian drones and artillery.”
Ukraine’s Kursk gambit, which surprised the world, was intended to stall Russia’s steady advances in eastern Ukraine, with hopes that Russia would be forced to engage in a major redeployment of forces to deal with the capture of Russian territory. Ukraine’s hold on the territory was also seen as a bargaining chip for Zelensky as the war now seems destined for a negotiated end. Not only does that chip appear to be vanishing, Putin could end up with a some new chips of its own — as Russia may soon have thousands more Ukrainian prisoners of war among its assets.
In late February, Russia’s defense ministry said its forces had regained control of 64% of Kursk territory initially seized by Ukraine. Kiev’s cross-border offensive started in early August 2024 and has managed to control dozens of towns and villages and hundreds of square kilometers of territory. That accomplishment has reportedly been aided by thousands of North Korean soldiers, with reports that one to three thousand more were being sent in February. North Korea has denied its soldiers are fighting in the war.
The New York Times reports that Russia is on the brink of a major victory in Kursk thanks to the coordinated work of North Korean troops and Russian drone units, advancing with the aid of intense Russian artillery and air bombardment. Ukrainian soldiers report an overwhelming concentration of new, fiber-optic drones that are controlled by an ultrathin cablerather than radio signals that are vulnerable to electronic jamming.
Some of the bleakest assessments of Ukraine’s Kursk position are coming from Ukraine’s own officers. “It’s true; we can’t stop them,” a Ukrainian commander tells the Times. “They just sweep us away, advancing in groups of 50 North Koreans while we have only six men on our positions.”
While the situation is sadly desperate for conscripted Ukrainian soldiers ordered into Russia pursuant to Zelensky’s gamble, some creative types can’t resist lampooning Ukraine’s desperate situation:
All joking aside…Can we finally end this hopeless war, and stop sacrificing Ukrainians and Russians on NATO’s altar?
* * *
RUSSIA VS UKRAINE/POLAND
ROBERT H
Poland to seek access to nuclear weapons – Mehr News Agency
Real madness!!!! Poland is gearing up to train all men for war. War will come sadly; it is only matter of time. There is no desire for peace. Russia is yet to really demonstrate what they have in their arsenal of weapons not seen. One should not expect the velvet gloves shown in Ukraine. Ukrainians are seen as cousins who is a foolish proxy as has publicly been admitted by Rubio. As for Kursk and Zelensky’s mad slaughter of Ukrainians their military command has cut all communication leaving the approximately 6000 troops there to surrender or die. Most will die with total losses exceeding 70,000 in a failed effort for media attention, in Kursk. One might gather from this that as conflict expands other governments will be no better at allowing troops to die in vain. Kursk is a military disaster! Whether Russia stands alone or needs support, be certain that China will forcibly come to help with millions of troops and supply trains of equipment. North Korea will also be in the fight because thousands of North Korean troops ( Chinese too) have been trained on Russian soil and have adapted to the current tactics of war and active training is occurring in both countries as factories turn out supplies. If you wondered where all those workers in China from consumer export companies went. Think war production factories. Europe is delusional in its ability to take on Russia because it will not be just Russia China and North Korea will be in spades. And while the tally of possible loss in Russia is already calculated as they will be mauled do expect millions in Europe to die. This is total nonsense of purpose because Ukraine is not worth dying for. Let the proxy die it’s own death to be reborn anew as a buffer state for Europe and many lives will be saved and countless billons of Euro’s can be spent rebuilding European society and industry. Countries who have prosperity make things that are not war equipment. In economic terms this is a classical choice between “guns and butter”. America needs to sit out this madness because it will be only America who will be left with the might and will to rebuild Europe much like what happened after WWII. Since we seem not to learn form history; history repeats itself.
Ukrainian Journalist Who Was Previously Awarded by Zelensky Calls for President Trump’s Assassination: “Where is Lee Harvey Oswald When The Country Needs Him So Badly?” | The Gateway Pundit | by Jordan Conradson All funded by USAID!
Federal Judge Imposes $24 Billion Judgement Against China For COVID Cover-Up As Missouri Moves To Seize Assets
by Tyler Durden
Saturday, Mar 08, 2025 – 07:15 PM
A federal judge in Missouri has found that the Chinese Communist Party (CCP) covered up the early days of the COVID-19 pandemic and hoarded protective equipment – costing the world precious time and lives. Now, Missouri officials are vowing to go after CCP assets.
Judge Stephen N. Limbaugh Jr. on Friday ordered China to pay a staggering $24 billion for their role in the disaster, a ruling that could pave the way for Missouri to seize Chinese-owned assets – including farmland, the NY Times reports.
The lawsuit, filed by the Missouri attorney general’s office in April 2020, during the early months of the pandemic, accused the Chinese government of withholding information about the existence and spread of the virus and then of cutting off the supply of personal protective equipment, or P.P.E., from the rest of the world. Chinese officials said Friday that they did not accept the judge’s decision.
Limbaugh wrote in his decision that “China was misleading the world about the dangers and scope of the Covid-19 pandemic,” and had “engaged in monopolistic actions to hoard P.P.E.,” which hampered early response to the pandemic.
The ruling in the US District Court for the Eastern District of Missouri imposed the judgement against China, the ruling CCP, local governments in China, a Chinese health agency, and the Wuhan Institute of Virology. Limbaugh, a Bush W. Bush appointee, had initially dismissed Missouri’s lawsuit, only to have it returned to him by an appellate court – after which he held a bench trial in January at the federal courthouse in Cape Girardeau, Missouri. China did not show up to the hearing.
According to Missouri Attorney General Andrew Bailey, the ruling held China accountable for its actions.
“China refused to show up to court, but that doesn’t mean they get away with causing untold suffering and economic devastation,” saidBailey, adding: “We intend to collect every penny by seizing Chinese-owned assets, including Missouri farmland.”
The Chinese government iscrying foul – and refusing to acknowledge the ruling.
“The so-called lawsuit has no basis in fact, law or international precedence,” a spokesman for China’s embassy in Washington fumed. “China does not and will not accept it. If China’s interests are harmed, we will firmly take reciprocal countermeasures according to international law.”
It remains unclear how or when Missouri might start grabbing Chinese assets, but Bailey has made it clear he isn’t bluffing. His office has suggested turning to the Trump administration for help in identifying Chinese-owned property that could be seized to pay the massive judgment.
Missouri has already been at the forefront of efforts to curbChinese land ownership in the U.S., with state lawmakers pushing restrictions on foreign adversaries buying American soil. Bailey’s new push could escalate the battle, potentially setting the stage for a historic legal fight between the Show-Me State and Beijing.
Foreign governments can be sued in American courts, though the circumstances under which those lawsuits can proceed are sharply limited by a measure known as the Foreign Sovereign Immunities Act. In his earlier dismissal ruling, Judge Limbaugh said that Missouri’s lawsuit was unable to move forward because of that act. The U.S. Court of Appeals for the Eighth Circuit said one of Missouri’s claims, about the hoarding of P.P.E., was not excluded by that act, and sent that portion of the case back to the district court. -NYT
Former Missouri Attorney General and now-Senator Eric Schmitt took a victory lap on social media after the ruling, declaring:
“When I was AG in Missouri, I sued China for unleashing Covid on the world. Missouri can now seize assets.”
This unprecedented case marks one of the largest legal judgments ever against a foreign government over a global crisis. While China is unlikely to pay up voluntarily, Missouri’s push to enforce the ruling through asset seizures could shake up U.S.-China relations.
While this is nice and all, when are US institutions involved in the offshoring of gain-of-function research to Wuhan going to be held accountable?
MARK CRISPIN MILLER
Justin Timberlake cancels show (“flu”); Harrison Ford cancels Oscars presentation (shingles); Mötley Crüe delays V
UNITED STATES
Justin Timberlake Forced to Cancel Final Show of U.S. Tour: ‘It Kills Me’
February 28, 2025
Justin Timberlake has canceled the final stop of his tour.
Hours before the “SexyBack” singer’s final performance for the North American leg of his Forget Tomorrow World Tour, the 44-year-old announced he was forced to cancel for health reasons.
“You guys, I’m heartbroken,” he wrote on Instagram on Thursday, Feb. 27. “I have to cancel the show tonight.”
Harrison Ford Will Not Present At The Oscars Following Shingles Diagnosis
March 1, 2025
Harrison Ford [82] has dropped out of his presenting role at the Oscars — to be held tomorrow in Los Angeles’ Dolby Theatre — following a diagnosis of shingles, his representatives have confirmed to outlets. The Shrinking star stepped out last weekend at the SAG Awards, where he was part of a lighthearted viral moment with fellow co-star Jessica Williams, whose “I Am An Actor” introduction speech he inadvertently interrupted by trying to sneak some food in the background of the shot. According to reports, the veteran actor was diagnosed with the illness yesterday, leading him to nix the appearance as of this morning.
Vince Neil delays Mötley Crüe’s Las Vegas residency due to ‘required medical procedure’
March 5, 2025
Vince Neil will undergo a “required medical procedure,” forcing Mötley Crüe to postpone its spring Las Vegas residency, the band confirmed on social media.
“To all the Crüeheads who were looking forward to see us this Spring, I’m truly sorry,” Neil said in a statement shared on Instagram. “My health is my top priority so I can bring you the awesome shows you deserve, and I can’t wait to return to the stage.
“Thank you for all the well wishes that keep reaching me. Your support means more than you know.”
Jet owned by Mötley Crüe’s Vince Neil plows into parked plane
February 17, 2025
Taproot’s Stephen Richards Released From Hospital After Suffering Medical Incident This Week
February 27, 2025
Taproot frontman Stephen Richards‘ medical issues have unfortunately returned. In January of 2024, the nü-metal vocalist/guitarist suffered a seizurewhile driving, resulting in a minor traffic accident. As shared on his social media tonight, February 27th, another seizure-related incident saw him hospitalized this week. In the comments of his post, he revealed that he was discharged less than a day ago at the time of his post. He stated of the matter: “2025 fuck yeah, no wait.. just 6 months back into the game of responsibility briefly after 6 months off, now back to can’t drive can’t work #seizures are a mental & financial death sentence…well at least we @followtaproot have 3 shows this summer ha ugghh #scissrs #taproot #bonjovi #thank you everyone for your love and support!
Country & Blues Musician Nat Myers Announces Grim Cancer Diagnosis: “There Is Beauty & Life In The Struggle I’m Fighting”
February 26, 2025
Nat Myers [33] needs all the help he can get from the music community right now. The country and blues musician from Kentucky posted on Instagram on Valentine’s Day that he wouldn’t be able to make a show supporting blues band GA-20 due to an extended hospital stay, but didn’t seem to have too many details to offer in regards to his situation. Now, Myers has returned to social media to break the news to his friends, fans, and community that he has received a rare cancer diagnosis, and though the outlook he has been given is grim, he is going to do everything he can to fight it. “As many of you all know I have been laid low by a rare cancer called a sarcoma. What I thought was a prolonged lung infection turned out to be much more sinister, with growth around my heart and pulmonary artery. On February 9th I entered the ER & have been in the hospital ever since.”
Auckland – Kiwi comedian Dai Henwood has postponed two comedy shows due to medical circumstances – referring to “tumour activity” in his lungs. He told his 43k followers on Instagram, he “took the summer off treatment”, but had to go back to chemotherapy earlier than planned. His comedy management company Notorious Management announced his shows in Invercargill and New Plymouth had been postponed, with new dates locked in for June.
kills and when connected to family and friends live longer, physically healthier, live longer than less socially connected people; can even be lonely in a crowd or marriage, for it is the QUALITY of
the relationship is what matters, does not matter if it is committed if it is not supportive…not the number of friends, it is the quality of the close relationship, warmth, living in midst of conflict is devastating, but living in the midst of warmth and acceptance is protective, living in a bad marriage is worse than living unmarried etc. yet with strong relationships…we learnt too that being in a secure attached relationship, friendship, confidant, even into 80s and 90s, is protective…where you feel you can count on someone in times of need…mind stays stronger, sharper, mentally, emotionally, protects the mind…high conflict relationships are very bad for our health, worse than divorce…good relationships protect our brains…
People remember you not for what you did or even said, but how you made them feel!
Good relationships keep us happier and healthier! Connected to family, to community!
Alexander News Network (ANN): Trump’s War 2.0 for America is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Talking, sharing, embracing…unconditional positive regard, accepting…letting others know they can count on you, and you can count on them…is very protective…
Talk, look into the eyes of the other person, 5 minutes a day of real ‘connection’ is worth more than 20 hours of disconnect and silence.
People remember you not for what you did or even said, but how you made them feel! As they get there. They will find their way. Do not help them, just do not impede them.
___
You must not wait for another catastrophic crisis (at times manufactured but we are prevented from making our own basic personal decisions or accessing needed drugs and response tools) to catch you off-guard. We must take charge and be prepared today so that we can enjoy peace of mind tomorrow.
Enter the Wellness Company as a solution and a willing participant in the health care conversation. From telemedicine, prescriptions, memberships, and supplements, TWC is leading America with alternative choices to the traditional health care model.
Obama Judge Indefinitely Blocks Trump Admin Funding FreezeA Rhode Island US District Judge has indefinitely blocked President Trump’s freeze on federal grants and loans, arguing in his ruling that the White House had “put itself above Congress” and undermined democracy.In a Thursday ruling, Judge John McConnell Jr., an Obama appointee – prohibited the Trump administration from freezing or otherwise impeding the disbursement of appropriated federal funds, WSJ …READ THE FULL REPORT
Horror: Tennessee Teacher Shoots Himself Dead in ClassroomA beloved Tennessee special education teacher was found dead with a self-inflicted gunshot wound in his classroom on Thursday.Samuel Colin Day was found deceased inside of a Munford High School classroom on Thursday morning. Police said the apparent suicide happened before students arrived for school.Police said all students and staff are safe.The school closed down for the rest of the …READ THE FULL REPORT
Trump Vows to Release Details on His Would-Be AssassinsPresident Donald Trump has announced that he will be releasing reports on the assassination attempts against him, promising transparency regarding the attacks that nearly took his life during the 2024 presidential campaign. Speaking to reporters from the Oval Office, Trump expressed his frustration over the lack of information available to the public and vowed to release details soon.“It’s been seven …READ THE FULL REPORT
The Law Firm That Laundered the Russia Hoax Stripped of Security ClearancesThe law firm that produced the Steele dossier on behalf of the Clinton campaign and laundered the Russia hoax against President Donald Trump during his first term no longer has access to classified or sensitive U.S. government information.“This is an absolute honor to sign. What they’ve done is just terrible. It’s a weaponization, you could say weaponization against a political …READ THE FULL REPORT
New Zealand’s Most Senior Diplomat Fired Over Trump CommentPhil Goff, New Zealand’s high commissioner to the U.K. and his country’s most senior diplomat in London, was fired for comments mocking President Donald Trump at a London think tank event at Chatham House.During remarks, he shared Winston Churchill’s speech from 1938 in which the British powerhouse blasted then-Prime Minister Neville Chamberlain and his decision to sign the Munich Agreement …READ THE FULL REPORT
LATEST REPORTS FOR NEWS JUNKIES
Obamas ‘Soft Launching’ Divorce? Megyn Kelly on New Details EmergingRumors the Obamas were headed for a divorce began in December after Michelle Obama skipped Jimmy Carter’s funeral and announced she wouldn’t be attending Trump’s inauguration.It was also recently reported that Barack and Michelle Obama’s largest donors have dropped them amid rumors about their marriage.Last month Meghan McCain added fuel to the long-swirling speculation surrounding the marriage of Barack and …READ THE FULL REPORT
Killing of Cop in Gunfight, Arrest of 14-Year-Old as Suspected Shooter Sends Shockwaves Through CommunityAn officer was killed and another critically injured during a shootout Friday night in Newark, New Jersey.Fallen Officer Joseph Azcona had been with the department five years, according to CBS News.The second officer remains in the hospital but is expected to recover.At least three suspects were arrested in connection to the shooting, which occurred around 6:30 p.m. that evening near …READ THE FULL REPORT
Violence Against Tesla Owners, Dealers Spreads as Far-Left Activists Denounce MuskTesla car owners, dealerships and charging stations have been targeted nationwide in protest against electric carmaker CEO Elon Musk and his involvement with the Trump administration’s Department of Government Efficiency (DOGE), which aims to slash wasteful spending and fraud within the federal government.An Oregon Tesla dealership, located 10 miles south of Portland, was targeted by gunshots Thursday, damaging multiple cars …READ THE FULL REPORT
Vote-Buying Scheme: Stacey Abrams Admits on MSNBC Biden EPA Handed Her $2 BillionIn a jaw-dropping admission on MSNBC, failed Georgia gubernatorial candidate Stacey Abrams proudly revealed that the Biden administration’s EPA funneled nearly $2 billion into a program she spearheaded to replace home appliances—just in time for an election year.During an interview with left-wing host Chris Hayes, Abrams proudly recounted how the Biden administration greenlit her project, Vitalizing DeSoto, a so-called “climate …READ THE FULL REPORT
Recently Elected Democrat Charged with 8 Counts of TheftClackamas County Commissioner Melissa Fireside has been charged with eight counts of theft and was arraigned on Wednesday.The Oregon Democrat is accused of taking “financial advantage of an 83-year-old man while accessing a computer network,” as well as forging his signature and that of Oregon Democratic State Rep. April Dobson, according to a release from the Oregon Department of Justice.Fireside …READ THE FULL REPORT
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
7.OIL AND NATURAL GAS ISSUES/GLOBAL/ENERGY/
ROBERT h
Trump revokes US sanctions waiver for Iraqi energy imports from Iran
Things are heating up with Iran quickly. If a conflict breaks out without much warning oil prices will rise fast and tariffs on Canadian oil will disappear.
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
CANADA
Trud-Out: Mark Carney To Become Canada’s Next PM
Sunday, Mar 09, 2025 – 06:53 PM
Aaaaaannndd, he’s gone!
Ex-Bank of Canada and Bank of England governor and king of the globalists, Mark Carney, has tonight won the race to become Canada’s next prime minister, replacing globalist Justin Trudeau.
Carney, a former central banker, won the contest to lead the Liberal Party of Canada with 85.9% of the vote.
Throughout the leadership race, Carney portrayed himself as an experienced crisis manager who led major central banks at pivotal moments – in Canada, during the global financial crisis, and in the UK, during its tumultuous exit from the European Union.
But he is relatively untested as a politician and does not currently hold a seat in Parliament. The first crisis he will face is a trade war.. which until now he has been quiet about.
“We have made this the greatest country in the world and now our neighbors want to take us,” Carney said in a brief speech before the results were announced on Sunday.
“No way.”
The transfer of power from Justin Trudeau to Carney is expected to take place within days.
Globalist-er and globalist-er(but at least it wasn’t Christia Freeland).
As the Epoch Times notes further, the next federal election must take place by October. Opposition parties have said they intend to vote non-confidence in the minority Liberal government to trigger an election sooner. Carney said on the campaign trail that he may call an early election to get a “strong mandate.”
The House of Commons is currently suspended until March 24, after Trudeau asked the governor general to prorogue Parliament on Jan. 6, the same day he announced his plan to resign and initiate a Liberal leadership race to find his replacement.
Once Carney becomes prime minister, it will end Trudeau’s nine-plus years of heading the federal government.
Trudeau took the Liberals from third place to a majority government in 2015, and won two subsequent elections in 2019 and 2021, although his government was reduced to a minority. He announced his resignation in January following widespread public calls from within caucus amid declining poll numbers and a weak showing for the Liberals in byelections.
Carney
Carney will become a prime minister who doesn’t currently hold a seat in the legislature, a rare occurrence. In 1984, Liberal Prime Minister John Turner also took the top job after winning the Liberal leadership race following the resignation of Pierre Trudeau, without holding a seat in the legislature at the time.
Even more unusual, Carney will be the first prime minister who has never held an elected public role in Canada’s history.
Carney served as the governor of the Bank of Canada from 2008 to 2013, after which he became the governor of the Bank of England until 2020.
He became active in the private sector after leaving his roles with central banks, serving on a number of boards and holding executive roles in financial companies. As well, he became the U.N. Special Envoy on Climate Action and Finance. Carney said he resigned from all these roles in January when he launched his leadership bid.
Carney has said he’ll have a focus on the economy as prime minister, and said he plans to cut taxes for the middle class and reduce government spending.
One of Carney’s major focuses is climate change policies. He has said he‘ll remove the unpopular consumer-facing carbon tax and replace it with an incentive model, and that he’ll put the costs for emissions on major businesses.
He has also said he’ll work to remove interprovincial trade barriers and respond to U.S. tariffs dollar-for-dollar, while working to diversify Canada’s export markets.
Carney, who holds British and Irish citizenship, has said he has begun the process of renouncing both citizenships.
Carney informally advised the Canadian government on the economic response during the pandemic, and was formally named as an economic advisor to the Liberal Party in September 2024. The son of teachers, Carney was born in Fort Smith, Northwest Territories, and grew up in Edmonton. He holds a doctorate in economics from Oxford and received his bachelor’s degree from Harvard.
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS MONDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0851 UP 23 BASIS PTS
USA/ YEN 146/99 DOWN 0.946 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//END OF YEN CARRY TRADE BEGINS AGAIN OCT 2024/Bank of Japan raises rates by .15% to 1.15..UEDA ENDS HIKING RATES AND NOW CARRY TRADES RE INVENTS ITSELF//
GBP/USA 1.2922 UP 0.0012 OR 12 PTS
USA/CAN DOLLAR: 1.4389 UP 0.0026(CDN DOLLAR DOWN 26 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 6.38 PTS OR 0.19%
Hang Seng CLOSED DOWN 447.81 PTS OR 1.85%
AUSTRALIA CLOSED UP 0.16%
// EUROPEAN BOURSE: ALL RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL RED
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 447.81 PTS OR 1.85%
/SHANGHAI CLOSED DOWN 6.38 PTS OR 0.19%
AUSTRALIA BOURSE CLOSED UP 0.16%
(Nikkei (Japan) CLOSED UP 141.10 PTS OR 1.38%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 2897.00
silver:$32.43
USA dollar index early MONDAY morning: 103.66 DOWN 15 BASIS POINTS FROM FRIDAY’s CLOSE.
The USA/Yuan UP T0 7.2576, CNY ON SHORE ..CHINA MUST DEVALUE TO GOLD
THE USA/YUAN OFFSHORE UP TO 7.2596:
TURKISH LIRA: 36.55EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
the 10 yr Japanese bond yield at +1.5411
Your closing 10 yr US bond yield DOWN 8 in basis points from FRIDAY at 4.239% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.546 DOWN 7 in basis points /11:00 AM
USA 2 YR BOND YIELD: 3.937 DOWN 7 BASIS PTS.
GOLD AT 11;00 AM 2903.00
SILVER AT 11;00: 32.37
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: MONDAY CLOSING TIME 11:00 AM//
London: CLOSED DOWN 7966 pts or 0.92%
GERMAN DAX: DOWN 387.99 PTS OR 1.69%
Paris CAC CLOSED DOWN 73.70 or 0.90%
Spain IBEX CLOSED UP 174.40 PTS OR 1.32%
Italian MIB: CLOSED DOWN 366.99PTS OR 0.95%
WTI Oil price 66.87 11 EST/
Brent Oil: 69.94 1:00 EST
USA /RUSSIAN ROUBLE /// AT: 87.75 ROUBLE UP 2 AND 25/ 100
GERMAN 10 YR BOND YIELD; +2.7990 DOWN 2 BASIS PTS.
UK 10 YR YIELD: 4.6935 UP 2 BASIS POINTS
CDN 10 YEAR RATE: 2.989 DOWN 4 BASIS PTS.
CDN 5 YEAR RATE: 2.640 DOWN 5 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.0827 DOWN 0.0001 OR 1 BASIS POINTS//HEADING TO PARITY WITH THE DOLLAR
British Pound: 1.2874 DOWN .0036 OR 36 basis pts/HEADING FOR PARITY /USA
BRITISH 10 YR GILT BOND YIELD: 4.6945 UP 4 BASIS PTS//
JAPAN 10 YR YIELD: 1.5453
USA dollar vs Japanese Yen: 147.34 DOWN 0.605 BASIS PTS// HEADING FOR 160 TO THE DOLLAR
USA dollar vs Canadian dollar: 1.4442 UP 0.0085 BASIS PTS CDN DOLLAR DOWN 85 BASIS PTS
West Texas intermediate oil: 65.92
Brent OIL: 69.19
USA 10 yr bond yield DOWN 10 BASIS pts to 4.216
USA 30 yr bond yield DOWN 7 BASIS PTS to 4.5490%
USA 2 YR BOND: DOWN 11 PTS AT 3.894
CDN 10 YR RATE 3.0007 DOWN 3 BASIS PTS
CDN 5 YEAR RATE: 2.647 DOWN 4 BASIS PTS
USA dollar index: 103.96 DOWN 14 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 36.55 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 87..62 UP 2 AND 37/100 roubles
GOLD 2887.25 (3:30 PM)
SILVER: 32.03 (3:30 PM)
DOW JONES INDUSTRIAL AVERAGE: DOWN 890.01 PTS OR 2.08%
NASDAQ 100 DOWN 771.42 PTS OR 3.81%
VOLATILITY INDEX: 27.87 UP 4.50 PTS OR 19.20%
GLD: $ 266.04 OR DOWN 2.35 PTS OR 0.88%
SLV/ $29.11 PTS OR DOWN 378.05 OR 1.53%
TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 149.94 OR 0.61%
end
TRADING today ZEROHEDGE/J
ZEROHEDGE/HEADLINE CLOSING MARKETS/ZEROHEDGE
‘Economic ‘Detox/Transition’ Fears Spark Largest Mag7 Market Cap Loss On Record, Bonds Bid
USA DATA
USA ECONOMIC NEWS/USA
Bidenomics Hangover Worsens: Subprime Auto Loan Delinquencies Hit Record High In January
Friday, Mar 07, 2025 – 10:10 PM
In January, the Bidenomics hangover weighed on consumers. New data showed that car owners defaulted on their monthly payments at the highest rate in over three decades.
Bloomberg reports that the share of subprime auto borrowers at least 60 days past due hit 6.56%, the highest percentage since Fitch Ratings began collecting data in 1994.
The most recent data from the Federal Reserve Bank of New York shows that the percentage of auto loans transitioning into serious delinquency—defined as payments overdue by 90 days or more—increased to 3% in the final quarter of 2024, marking the highest level since 2010.
On Tuesday night, Trump addressed a joint session of Congress, informing the nation:
“We inherited from the last administration an economic catastrophe and an inflation nightmare. Their policies drove up energy prices, pushed up grocery costs and drove the necessities of life out of reach for millions and millions of Americans.”
The Trump team is moving swiftly to stabilize the economy amid the worsening Bidenomics hangover while leveraging tariffs as a negotiation tool to advance the ‘America First’ agenda.
A federal judge in Washington has refused to block staff from the Department of Government Efficiency (DOGE) from accessing the Treasury Department’s systems that contain millions of Americans’ personal data.
U.S. District Judge Colleen Kollar-Kotelly—who previously restricted DOGE’s work at the Treasury to two employees with read-only access—issued a decision on March 7 that rejects a request from the Alliance for Retired Americans and several employee unions to bar DOGE staff from the Treasury’s Fiscal Service system, which processes roughly 90 percent of federal payments.
In her ruling, Kollar-Kotelly determined that the plaintiffs had failed to establish that allowing DOGE employees access to the system would result in irreparable harm.
“If Plaintiffs could show that Defendants imminently planned to make their private information public or to share that information with individuals outside the federal government with no obligation to maintain its confidentiality, the Court would not hesitate to find a likelihood of irreparable harm,” the judge wrote.
She found no indication of any plans to misuse or improperly disclose sensitive data, and noted that the plaintiffs are free to return to court to seek emergency remedy if these circumstances change.
The decision also lifts Kollar-Kotelly’s earlier access restrictions, which had permitted two DOGE-affiliated individuals to view the Fiscal Service system on a read-only basis.
The Epoch Times has contacted counsel for the plaintiffs with a request for comment on the ruling.
DOGE staff remain barred from the Fiscal Service under a separate order issued by U.S. District Judge Jeannette Vargas in New York.
Vargas, responding to a lawsuit from 19 Democratic attorneys general, partially granted their request to block DOGE personnel from the Treasury’s payment system, citing concerns over insufficient vetting and training.
“Indeed, taking the time to adequately mitigate potential security concerns and properly onboard members to engage in this work outweighs the defendants’ immediate need to access and redevelop [the] Treasury system,” Vargas stated in her 64-page order.
“Without addressing these issues, the potential consequences of a cybersecurity breach could be catastrophic.”
Vargas left open the possibility of lifting or modifying her order if the administration certifies that DOGE staff have undergone proper training and obtained necessary security clearances.
She also denied the plaintiffs’ request to impose broader restrictions preventing DOGE from creating processes to stop payments within the Treasury’s systems. Vargas argued that such measures would “far exceed” the scope of the earlier temporary restraining order and that the plaintiffs had not justified the need for such extensive relief against DOGE.
Trump administration officials have defended DOGE’s presence at the Treasury, arguing that DOGE is carrying out measures that will ultimately improve the efficiency of government operations.
Critics say that DOGE’s involvement raises security and oversight issues, particularly given its relatively new and undefined role in federal financial management.
President Donald Trump created DOGE on his first day in office, directing it to explore ways to eliminate wasteful government spending and streamline federal operations.
DOGE staffers have moved quickly and aggressively to audit and pursue reforms across federal agencies, with the advisory body recently reporting $105 billion in savings through canceled grants, asset sales, workforce reductions, and terminated contracts and leases.
A number of lawsuits have been filed to halt DOGE’s operations, leading to a mix of rulings.
END
a very important read..
(zerohedge)
Is Trump Trying To Push The US Into A Recession?
by Tyler Durden
Monday, Mar 10, 2025 – 09:45 AM
One month ago, when we first realized just how much fat Elon Musk’s DOGE was slashing from the government money-laundering apparatus, we made a controversial (at the time) observation: so much (deep state laundered) money was about to come out of the economy, the US would enter a recession, first in Washington DC (something which Michael Hartnett and others have since confirmed) and then across the US.
We were surprised at how much pushback we got, especially from supporters of Trump. But this wasn’t meant to be a judgment call against the new administration which had only been in power for a few weeks. If anything, we had explained long ago that the only reason the US economy hadn’t collapsed into a recession long ago is because of Biden’s unprecedented debt issuance spree which we first described in the summer of 2003 (see “Here Is The $1 Trillion “Stealth Stimulus” Behind Bidenomics“), and which had sent US debt soaring by $1 trillion every 100 days.
But now that particular debt party appears to be ending.
Understandably, defusing this debt time-bomb is precisely what Elon Musk has undertaken, and the process of undoing all the catastrophic trends that culminated under the Biden administration would inevitably result in a recession (just as allowing the debt pile up to continue its record meltup was the only thing that delayed the inevitable economic slowdown).
Still, our observation came at a time when the “US exceptionalism” trade was still all the rage if only for a few more days, and thus few were willing to accept it.
Then little by little sentiment turned, and just a few weeks later, Wall Street was full of reports such as this one from Mizuho’s Dominik Konstam (available to pro subs)”discovering” what we had said weeks earlier, namely that the efforts of DOGE would spark a new recession, first in the government and then everywhere else.
This was quickly followed by formerly euphorically bullish Wall Street firms such as Goldman (full report here)…
… and Morgan Stanley (full report here), both slashing their GDP outlooks.
So slowly but surely, Wall Street admitted we were right. But what about the administration: would Trump be surprised to learn that Musk’s austerity push plus the admin’s tariff policies would lead to a recession? We wondered and then we start paying closer attention to what Trump and his closest lieutenants were saying.
First, there was Trump’s Treasury Secretary Scott Bessent who (correctly) explained last week on Face the Nation how the media was misleading people that the economy was doing just great under Biden, and how the mood suddenly changed when Trump came in power. His point, of course, is that Trump has not been nowhere near long enough in power to slam the economy himself.
Some days later Bessent also explained why the economy had been doing so “great” during Biden’s last years – he basically echoed what we said two years ago in “Here Is The $1 Trillion “Stealth Stimulus” Behind Bidenomics“, in which we explained that the only reason the US economy hadn’t collapsed is because the government was issuing $1 trillion in debt every 100 days, or as Bessent put it, “the market and the economy have become hooked, become addicted, to excessive government spending and there’s going to be a detox period.”
That also explains why, to avoid a technical recession, Trump’s Commerce Secretary Howard Lutnick told Fox News the Trump admin was considering separating government spending from GDP reports, in response to questions – first posed here – about whether the spending cuts pushed by Elon Musk’s DOGE could possibly cause an economic downturn: “You know that governments historically have messed with GDP,” Lutnick said on Fox News Channel’s Sunday Morning Futures. “They count government spending as part of GDP. So I’m going to separate those two and make it transparent.”
Lutnick’s remarks echoed Musk’s arguments on X that government spending doesn’t create value for the economy: “A more accurate measure of GDP would exclude government spending,” Musk wrote on X. “Otherwise, you can scale GDP artificially high by spending money on things that don’t make people’s lives better.”
Lutnick’s take was a bit more nuanced but leaned in the same direction saying “if the government buys a tank, that’s GDP. But paying 1,000 people to think about buying a tank is not GDP. That is wasted inefficiency, wasted money. And cutting that, while it shows in GDP, we’re going to get rid of that.”
And then there was Trump himself who during his speech to Congress, issued the most explicit warning yet, saying to expect “a little disturbance” on tariffs, echoing what he said back in February when the president posted (in all caps) on his Truth Social account that “THIS WILL BE THE GOLDEN AGE OF AMERICA! WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!)” adding “WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID.”
But the clearest indication that Trump is now eager to push the US economy into a recession – one which he can correctly blame on Biden’s drunken-sailor spending ways – and that the “Trump put” is now a “call”, came from the president himself when in another interview over the weekend with Maria Bartiromo, the president was oddly defensive, and saying “I hate to predict things like that,” when asked if he expected a recession this year. “There is a period of transition, because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing. And there are always periods of — it takes a little time. It takes a little time. But I think it should be great for us. I mean, I think it should be great.”
As for stocks, don’t expect Trump to jump in and seek a bailout: “There could be a little disruption. You can’t really watch the stock market. If you look at China, they have a 100-year perspective… we go by quarters. What we’re doing is building a foundation for the future.”
And if that wasn’t clear enough, his Treasury Secretary Scott Bessent was about as explicit as possible predicting that the US is headed for a “detox period” and warning ”could we be seeing that this economy that we inherited starting to roll a bit? Sure.” He also ruled out policy shifts to prop up the market, confirming that at least for now, the Trump put is dead and buried.
Commenting on these pre-recessionary soundbites, Goldman’s head of Delta One trading Rich Privorotsky said that “while commendable to attempt to address the long term imbalances of debt sustainability and spending (which accelerated during covid) it’s hard to see how these won’t have short term economic implications” effectively echoing what we said a month ago.
Rabobank was even more explicit when it said that “Trump hasn’t mentioned stocks so far, and the word from D.C. is their focus is on Main Street, not Wall Street, with willingness to tolerate “disturbance” for at least the next six to eight months, while blaming it on Biden, in order to get a framework in place that allows for growth based on what Trump thinks GDP is for…”
But it was perhaps Nomura’s Charlie McElligott who laid it out best saying the US is now underoing a clear “Phase Shift”, one which will be very painful (full note available to pro subs in the usual place):
DON’T JUST TAKE MY WORD FOR IT—THEY’RE TELLING YOU THE PLAYBOOK, AND THE “PHASE SHIFT” WILL BE THE PAINFUL PART AS WE “ENGINEER A RECESSION”:
Treasury Secretary Scott Bessent at the NY Economic Club yday going even harder on the “Public to Private” and “Wall St >> Main St” U.S. Growth- and Wealth Inequality- reset themes (among other high quality insights into everything from sanctions to the role of banks and regulation…but that’s for another time):
POTUS has begun an “…aggressive campaign to rebalance the international economic system.” (tariffs, duh…)
“Access to cheap goods in not the essence of the American Dream…The American Dream is rooted in the concept that any citizen can achieve prosperity, upward mobility, and economic security. For too long, the designers of multilateral trade deals have lost sight of this.” (inflation risks are just not a priority or are overstated, once we hit you with the growth drag)
And the big one on the RESET from Growth dependency upon Govt Deficit Spending, and refocusing into Private Sector stim (Taxes and Dereg): “The first time I went to see President Trump he looked at me and said ‘How do we get this debt and deficit down without killing the economy?’…I’ve been thinking about this for 18 months and [the way to do it is] the transition from a public sector to private sector [driven economy]…25 percent of GDP goes through [Washington DC] Area code 202.”
And further signal of intent from Bessent this a.m. on CNBC…like, can we make this any clearer, people?!:
BESSENT: WE COULD SEE INHERITED ECONOMY STARTING TO ROLL A BIT
BESSENT: THERE’S GOING TO BE A DE-TOX PERIOD FOR THE ECONOMY
BESSENT: THERE’S NO TRUMP PUT, BUT THERE’S TRUMP CALL UPSIDE
The issue is this: When running this Govt “FISCAL CONTRACTION” and DOGE attack on awful “spending” which has been conditioned into both parties for decades in order to reduce Govt expenditures meaningfully (think flow over stock, change of change or impulse…not absolute levels)—but at the same time that global trade “rebalancing” means “Tariff Wars” with your largest trading partners—there is simply no way to maintain current real GDP growth, let alone move it higher in the near-term…i.e. it’s going LOWER
AND THAT’S THE POINT: They understand this “Phase Shift” means pain, and that’s with intent to do it FAST and EARLY into his term, because you need to remove the sources of excess economic stimulation through “FISCAL CONTRACTION,” which then simultaneously will act to drain real economic demand via “NEGATIVE WEALTH EFFECT,” as Markets acknowledge the lower growth implications
This intentional growth drag and negative wealth effect—the “ENGINEERING A RECESSION” thesis—will act as a DISINFLATIONARY IMPULSE which then facilitates the shift into Phase 2, which is where thanks to the disinflation, you can then finally act to stimulate the PRIVATE SECTOR through EASIER MONPOLvia Fed Cuts to “reduce the cost of money”….and then further escalate into Tax Cuts and MASS Deregulation
Yet as the will be the case in our debt-addled existence, enabled by both the perpetual deficit spending Politicians and Central Bankers who crossed the precipice into the “Moral Hazard” zone of the “QE Trap”—we, societally, have an EXTREMELY LOW TOLERANCE FOR PAIN…
So can the voting public, politicians, and central bankers ride out this consequences of this well-intended “rebalancing act,” or will the tantrums for MOAR overwhelm and force a “bending of the knee” back to the unsustainable status-quo Govt deficit spending economic dependency?
It will come down to the speed by which the Trump Admin’s intentional “CONTROLLED DEMOLITION” double-whammy “Growth Drag” and “Negative Wealth Effect” can lead to disinflationary impulse which allows for the EASING thereafter…otherwise it seems that Market forces are happy to “find the clearing level” on the Trump Put, which remains still-deeper Out-of-the-Money in Equities
Putting it all together, the emerging picture is clear: what we said a month ago was spot on, and while perhaps not actively pushing the US into a recession, Trump and Bessent certainly would welcome it (especially with the midterm elections fast approaching), knowing they still have the benefit of a few months in which to blame the Biden regime and its staggering debt incurrence, which as we first explained had kept the economy afloat for so long…
…. and once the economy and markets have had their reset, most likely with the benefit of another huge fiscal stimulus from Congress which will have no choice but to step in once there is a recession, the economy and markets will levitate straight into the Nov 2026 midterms, which will cements the Republican grip on power even more, even if it means some – rather acute – pain in the immediate future.
END
Commerce Secretary Says Trump Will Not Ease Up On Fentanyl-Related Tariffs
Commerce Secretary Howard Lutnick said on March 9 that President Donald Trump is likely to maintain his tariff pressure on Mexico, Canada, and China regarding their role in fentanyl trafficking into the United States.
“If fentanyl ends, I think these will come off. But if fentanyl does not end, or he’s uncertain about it, he will stay this way until he is comfortable,” Lutnick said in a Sunday interview with NBC’s “Meet the Press.”
“This is black and white. You got to save American lives.”
Lutnick added that 25 percent tariffs on steel and aluminum imports will take effect as scheduled on March 12. Both Canada and Mexico are leading exporters of the metals to the United States, with Canada responsible for most aluminum imports.
The commerce secretary also dismissed fears that the president’s global tariffs will lead to a recession in the United States.
“Absolutely not,” he said. “There’s going to be no recession in America.”
The tariffs will lead to higher prices for Americans on certain foreign-made goods, Lutnick said.
“Some products that are made foreign might be more expensive, but American products will get cheaper, and that’s the point,” he said.
While Trump resumed 25 percent tariffs on Mexico and Canada on March 4, he granted a one-month delay for any automakers that comply with the United States–Mexico–Canada Agreement (USMCA).
Additionally, oil and energy from Canada covered under that agreement will also be exempt from tariffs, while roughly 50 percent of goods leaving Mexico will remain subject to the 25 percent import tax.
“After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement,” Trump announced on Truth Social on March 6.
Canada has also modified its counter-tariffs on the United States, leaving $30 billion worth of tariffs it levied on American goods in place, but will be halting a planned second round of $125 billion in tariffs, Canadian Finance Minister Dominic LeBlanc said.
That remaining round of tariffs has been postponed until April 2, the same day that Trump’s partial tariff exemption for Canada is set to expire.
Meanwhile, individual Canadian provinces are moving forward with their own tariffs.
Ontario is continuing with a 25 percent tax on electricity sent to roughly 1.5 million customers in three northern U.S. states beginning next week, Premier Doug Ford told Fox News in a March 6 interview. The province has also removed American alcohol from its provincially run liquor stores, is banning U.S. procurement contracts, and is canceling Ontario’s $100-million contract with tech billionaire Elon Musk’s Starlink internet service.
British Columbia has also removed American-made alcohol from its liquor stores and instituted a government-wide directive to limit buying American products.
Jennifer Cowan, Emel Akan, and Reuters contributed to this report.
END
VICTOR DAVIS HANSON
USA/PERVASIVE ANTISEMITISM
Democrats Suddenly Embrace Free Speech After “Radical Foreign Pro-Hamas Student” Arrested, Stripped Of Green Card Ahead Of Deportation
Monday, Mar 10, 2025 – 01:20 PM
A civil rights debate has ensued following the Saturday arrest by the Department of Homeland Security (DHS) of Mahmoud Khalil – a recent Columbia University graduate who has been described as a ‘ringleader’ in last year’s campus chaos in which activists took over Hamilton Hall, which led to an NYPD raid and mass arrests (which Manhattan DA Alvin Bragg dismissed).
According to Zeteo.com, around 8:30 PM on Saturday, Khalil and his pregnant wife had just unlocked the door to their residence when two plainclothes DHS agents ‘pushed inside behind them,’ did not identify themselves at first, and then detained Khalil. They reportedly told his wife that if she did not leave her husband and stay in their apartment, they would arrest her too.
The agents claimed that the State Department had revoked Khalil’s student visa, with one agent presenting what he claimed was a warrant on his cell phone. But Khalil, according to advocates, has a green card. Khalil’s wife went to their apartment to get the green card.
“He has a green card,” an agent apparently said on the phone, confused by the matter. But then after a moment, the agent claimed that the State Department had “revoked that too.”
DHS spokesperson Tricia McLaughlin confirmed in a statement that ICE had detained Khalil “in support of President Trump’s executive orders prohibiting anti-Semitism,” claiming that Khalil had “led activities aligned to Hamas, a designated terrorist organization.”
President Trump, meanwhile, said on Truth Social: “Following my previously signed Executive Orders, ICE proudly apprehended and detained Mahmoud Khalil, a Radical Foreign Pro-Hamas Student on the campus of Columbia University,” adding “This is the first arrest of many to come. We know there are more students at Columbia and other Universities across the Country who have engaged in pro-terrorist, anti-Semitic, anti-American activity, and the Trump Administration will not tolerate it.”
“Many are not students, they are paid agitators. We will find, apprehend, and deport these terrorist sympathizers from our country — never to return again.”
Secretary of State Marco Rubio chimed in on X, writing “We will be revoking the visas and/or green cards of Hamas supporters in America so they can be deported.”
According to law professor Jonathan Turley, “In the Khalil case, he was reportedly under investigation for the takeover of the Columbia building while also serving as one of the negotiators. The takeover is not protected free speech. It is unlawful conduct that can and should be punished.”
The arrest came one day after the Trump administration cut $400 million in grants to Columbia University over ‘antisemitism inaction,’ after members of the US Joint Task Force to Combat Anti-Semitism notified Columbia University’s Acting President of a comprehensive review of the university’s federal contracts and grants amid ongoing investigations under Title VI of the Civil Rights Act.
The review follows reports of “chaos” and “anti-Semitic harassment” on campus since Hamas’ attack on Israel in October 2023.
As Zeteo notes further;
In February – after Columbia president Katrina Armstrong met with Israel’s education minister, where they discussed taking firmer action on campus speech – Columbia’s Barnard College expelled three students for political activism for the first time since the 1968 protests. This week – as the school welcomed former Israeli Prime Minister Naftali Bennett, who once said, “I’ve killed many Arabs in my life, and there’s no problem with that,” to campus – NYPD arrested nine students involved in a campus sit-in.
Needless to say, this arrest has sparked a brewing debate over free speech (which the left suddenly embraces after years of silencing conservatives) vs. anti-American/Israel activities which included a violent riot.
Reps. Ilhan Omar (D-MN) and Rashida Tlaib (D-MI) slammed the arrest on X, calling it “un-American” and “straight out of the fascist playbook,” while calling for Khalil’s release.
Do anti-Israel protesters, even ‘pro-Hamas’ individuals, pose a danger to Americans or US national security?
How should authorities respond to ‘ringleaders’ of protests that turn into chaos on college campuses?
And are these protests being funded by terrorist-affiliated groups, or George Soros?
The seasonal adjustment for Feb 2025 is +1.235m; it is +1.264m for Feb 2024. Ergo, 29k jobs were ‘lost’ in Feb 2025 on a reduction in the seasonal adjustment. https://www.bls.gov/news.release/empsit.t17.htm
The Household Survey shows a huge discrepancy with NFP: ‘Employed’ -588k, ‘Unemployed’ +203k, Unemployment Rate +0.1 to 4.1%, 4.0% consensus. The Underemployment Rate (U6) jumped to 8% from 7.5%, the highest rate since October 2021. The Labor Force Participation Rate fell 0.2 to 62.4%. Civilian Labor Force -385k, Not in Labor Force +546k https://www.bls.gov/news.release/empsit.a.htm
@RapidResponse47: NEC Director Kevin Hassett: The bottom line is the Biden admin created government jobs, and we reduced government jobs... Manufacturing jobs are UP 10,000, with 9,000 of those being new jobs for auto workers, which are high-paying jobs. “I think it’s a FANTASTIC report.” https://x.com/RapidResponse47/status/1898020946541191210
ZH: Full-time jobs dropped by 1.2 million while part-time jobs surged by 610K,
Trump: “Under the final two years of Biden, one in every four jobs created in America was a government job… But under the first full month of President Trump, an incredible 93% of all job gains were in the private sector.”https://x.com/RapidResponse47/status/1898057420577919027 “During the last year, the Biden administration saw a loss of more than 110K manufacturing jobs or 9K manufacturing jobs every single month — During the first full month in office, we’ve not only stopped the manufacturing collapse, but we’ve begun to rapidly reverse it and get major gains.” https://x.com/RapidResponse47/status/1898057088259309769 “For the first time in fifteen months, the job gains for native-born Americans exceeded the job gains for migrant and foreign workers. Employment for native-born workers went up by 284K while foreign born workers went down by 87K.” https://x.com/RapidResponse47/status/1898057673494417516 “Globalists won’t love this (tariffs) because this brings jobs back to America… I think the United States is going to do records business. We’ll bring back a lot of those 90,000 factories that have been lost over the last number of years…” https://x.com/RapidResponse47/status/1898060408172196070
Scott Bessent: “The market and the economy have become hooked, become addicted to government spending, and there’s going to be a detox period.” https://x.com/TFTC21/status/1898053622329753624
Bessent Warns of ‘Detox Period’ for Economy, Touts Trump ‘Call’ – BBG 9:41 ET Treasury Secretary Scott Bessent warned Friday the U.S. economy could enter a “detox period” as the Trump administration shifts from robust government spending to push more private sector spending… Bessent on Friday downplayed the stock market turbulence of the past week ‒ although, during his first term in office, Trump was known to routinely tout stock market gains. “Look, the market was up 20 percent last year, 20 percent the year before,” Bessent said. “Did the Biden administration succeed? The American people weren’t buying it just because the market was up. They voted out the Democrats.”… Bessent accused the Biden administration of creating “an unstable equilibrium” in which the top 10% of income-earners accounted for between 40% and 50% of consumption while “the bottom 50% of working Americans have gotten killed… https://www.usatoday.com/story/news/politics/2025/03/07/trump-treasury-secretary-detox-economy/81932662007/
Treasury’s Scott Bessent says ‘access to cheap goods’ is not the ‘American dream’ “Access to cheap goods is not the essence of the American Dream. The American Dream is rooted in the concept that any citizen can achieve prosperity, upward mobility, and economic security. For too long, the designers of multilateral trade deals have lost sight of this. International economic relations that do not work for the American people must be reexamined.”… https://trib.al/qcIzjFU
Bessent just debunked globalists’ primary rationalization for shipping US jobs elsewhere and investing in developing nations. As we noted in Friday’s missive, Bessent has changed the focus to helping Main Street from catering to Wall Street, a seismic shift from the past 35+years!
Powell: Fed Doesn’t Need to Hurry, Can Wait for Greater Clarity – BBG 12:30 ET Powell: Tariffs Driving Near-Term Inflation Expectations Higher – BBG 12:30 ET Powell: US Economy Is Still in Good Place Despite Uncertainty – BBG 12:30 ET Powell: Sentiment Not a Good Spending Indicator in Recent Years – BBG 12:30 ET
Trump threatens new sanctions and tariffs on Russia to force peace talks 9:30 ET A senior White House official said “Trump’s rage has been intensifying” in recent days due to Russia’s behavior and its escalation of strikes on Ukraine at the same time that he’s been pushing for a ceasefire… “Based on the fact that Russia is absolutely ‘pounding’ Ukraine on the battlefield right now, I am strongly considering large scale Banking Sanctions, Sanctions, and Tariffs on Russia until a Cease Fire and FINAL SETTLEMENT AGREEMENT ON PEACE IS REACHED. To Russia and Ukraine, get to the table right now, before it is too late. Thank you!!!” Trump posted on Truth Social… https://www.axios.com/2025/03/07/trump-tariffs-russia-ukraine-war-cease-fire-deal
Putin Said to Be Ready to Agree Ukraine Truce with Conditions – BBG 10:49 ET Russia wants a clear understanding of the framework of the final peace accord, including the parameters of a peacekeeping mission. Russia rejects the presence of NATO troops on Ukrainian soil, but is open to countries like China deploying forces to Ukraine as part of a peacekeeping mission.
@SariArhoHavren: Just a while back, China flew bombers with Russia in a joint drill close to Alaska. They have exercised over 100 times together, and China has enabled Russia’s war against Ukraine, calling for a new security architecture for Europe. But somehow, it is now a great, fresh idea to suggest bringing the Chinese (PLA) peacekeeping forces to Ukraine. To add to why it is such a bad idea to suggest “Chinese peacekeeping forces” in Ukraine, consider the nature of the People’s Liberation Army. It is not just an army; it is the army of the Chinese Communist Party. Its role and purpose are to foremost keep the party’s power safe and amplify that power.
Trump Says He Asked Iran to Open Nuclear Talks Mr. Trump described the letter as saying, “I hope you’re going to negotiate because it’s going to be a lot better for Iran.” “If we have to go in militarily, it’s going to be a terrible thing for them,” he said, adding: “The other alternative is we have to do something because you can’t let them have a nuclear weapon… https://www.nytimes.com/2025/03/07/us/politics/trump-iran-nuclear-deal-letter-khamenei.html
@LucasFoxNews: After Iran rejected Trump’s offer to negotiate a nuclear deal earlier Saturday, the WH says, “President Trump said it clearly that there are two ways Iran can be handled: militarily or by making a deal. We hope the Iran Regime puts its people and best interests ahead of terror.”
Small Business Administration to exit Chicago over sanctuary city status The Small Business Administration plans to close its Chicago office and those in five other sanctuary cities… https://x.com/FBIDirectorKash/status/1897838771611017601
ESHs vacillated between modest and moderate gains from the Nikkei opening on Friday until they broke lower two minutes before the official 8:30 ET February Employment Report release. This front-running attempt ahead of key US economic data has recurred for the past few years.
After falling to 5735.00 at 8:28 ET, ESHs jumped to 5786.50 (+53.50 in two minutes) at 8:30 ET. ESHs then sank to 5724.50 at 9:12 ET. The rally for the NYSE opening took ESHs to 5778.00 at 9:54 ET. Sellers then got busy; ESHs sank to a daily low of 5673.00 at 11:50 ET.
A Noon Balloon and buying for the Friday Afternoon Rally pushed ESHs to 5769.75 at 13:54 ET.
Friday’s King Report: The S&P 500 Index closed 7 thin handles above its 5731 200-DMA… If the S&P 500 Index blows through 5731 and there is no effort to halt & reverse the decline, look out!
The S&P 500 Index low for Friday is 5666.29; its 200-DMA is 5732.90. The robust Noon Balloon on Friday was the rescue of stocks by getting the S&P 500 Index back above its 200-DMA. The ESH manipulation during the noon hour took the S&P 500 Index to 5762.01 at 13:56 ET.
After sinking to 5749.25 at 15:40, the late and illegal manipulation pushed ESHs to 5791.00 at 15:55 ET. ESHs tumbled to 5760.25 at 16:03 ET on traders trying to exit ahead of the weekend. The S&P 500 Index hit a daily high of 5783.01 at 15:55 ET but sank to 5770.20 at the NYSE close.
@business: Federal Reserve Bank of San Francisco President Mary Daly said growing uncertainty among businesses could slow demand in the US economy but doesn’t require a change in interest rates
Would uber liberal Daly believe this if Kamala Harris were president? With no clarity about who would win the November 2024 Election the Fed did a jumbo cut two months before it. Now, Fed academics aver that because there is no clarity about DJT’s policies, the Fed has to go inert. Positive aspects of previous session A robust Noon Balloon appeared. An aggressive effort to save equities appeared after the S&P 500 Index breached its 200-DMA. The DJIA closed +222.64; the DJTA closed +124.14
Negative aspects of previous session Fangs got crushed again, and underperformed the major equity indices. Stocks, once again, declined sharply in the morning. The S&P 500 Index fell below its 200-DMA. The NY Fang+ Index posted only a 22.18 gain. USHs closed -15/32.
Ambiguous aspects of previous session Is momentum selling about to hammer stocks?
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]: 5739.83 Previous session S&P 500 Index High/Low: 5783.01; 5666.29
How Trump’s ‘51st State’ Canada Talk Came to Be Seen as Deadly Serious President Trump, in an early February call, challenged the border treaty between the two countries and told Justin Trudeau he didn’t like their shared water agreements… President Trump laid out a long list of grievances he had with the trade relationship between the two countries, including Canada’s protected dairy sector, the difficulty American banks face in doing business in Canada and Canadian consumption taxes that Mr. Trump deems unfair because they make American goods more expensive… He told Mr. Trudeau that he did not believe that the treaty that demarcates the border between the two countries was valid and that he wants to revise the boundary… He wanted to tear up the Great Lakes agreements and conventions between the two nations that lay out how they share and manage Lakes Superior, Huron, Erie and Ontario. And he is also reviewing military cooperation between the two countries, particularly the North American Aerospace Defense Command. https://www.nytimes.com/2025/03/07/world/canada/trump-trudeau-canada-51st-state.html
Trump announces reciprocal tariffs on Canadian dairy and lumber if rates don’t drop https://trib.al/DeFRwLu
@john_mcnally: And this all began in earnest under the “Christian” President George W Bush. His foreign policy misadventures have led to the end of 2000 years of Christianity in Middle East.
@Rothbard1776: Dem Sen. Mark Kelly accused Tulsi Gabbard of spreading Russian and Iranian propaganda during her confirmation for telling the truth about Obama & the CIA destabilizing Syria by trying to overthrow Assad, warning it would lead to chaos and the persecution of Christians. Tulsi was right. https://x.com/Rothbard1776/status/1898229662716658012
Today – ESHs sank to 5710.50 (-66.00) and NQHs tumbled to 19995.50 (-262.00) at 19:08 ET on the fear that the US will strike Iran (US intel says Iran tried to assassinate DJT!) and escalating US recession fears. It appears foreigners are selling US equities and buying USHs (+21/32). Cryptos are tanking!
Even though Sunday night trading is ugly, traders will play for the Monday Rally, emboldened by the manipulation to save stocks after the S&P 500 Index fell below its 200-DMA on Friday. We have regularly noted over the past 2+ decades that when a key US equity index falls below an important level or metric, there has been a concerted effort to save stocks by manipulating ESHs higher. This negates the technical breach and changes traders’ psychology. Can traders save stocks today?
Despite the blatant manipulation to save stocks on Friday, Bloomberg’s Trender trading model turned negative on a WEEKLY basis for the first time since August 2, 2024. (Sell signal lasted 3 months)
Huge Caveat: For the first time ~40 years, solons do NOT believe that the US stock market is a matter of national and economic security. And Team Trump is clearly forecasting a recession.
“We are on the brink of a new Bretton Woods, and I want to be part of it.” – Treasury Secretary Bessent
Expected economic data: Feb NFP 160k (Whisper # 120k), Mfg. 3k, Rate 4.1%, Wages 0,3% m/m & 4.1% y/y; Jan Consumer Credit $15.0B; Fed Gov. Bowman 10:15 ET, NY Fed Pres Williams 10:45 ET, Fed Gov. Kugler 12:20 ET, Fed Chair Powell 12:30 ET on Economic Outlook
ESHs are +23.00; NGHs are +108.00; and USHs are +10/32 at 21:15 ET.
S&P Index 50-day MA: 5981; 100-day MA: 5954; 150-day MA: 5828; 200-day MA: 5733 DJIA 50-day MA: 43,645; 100-day MA: 43,550; 150-day MA: 42,718; 200-day MA: 41,898 (Green is positive slope; Red is negative slope)
S&P 500 Index (5770.20 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 5447.29 triggers a sell signal Weekly: Trender is positive; MACD is negative – a close below 5807.26 triggers a sell signal Daily: Trender and MACD are negative – a close above 6960.73 triggers a buy signal Hourly: Trender and MACD are positive – a close below 5731.71 triggers a sell signal
@Breaking911: What is Trump referring to here? “Ukraine wants to make a deal because I don’t think they have a choice. I also think that Russia wants to make a deal because in a certain different way, a different way that only I know, only I know, they have no choice either.” https://t.co/qYBphRCioq
Oversight Project investigation: Biden autopen signature used on ‘every document we could find’https://t.co/QMvHoEFxAr
Could a Bombshell Discovery Render All of Biden’s Presidential Actions ‘Null and Void’? A shocking investigation by the Heritage Foundation’s Oversight Project has revealed that virtually every document bearing Joe Biden’s signature during his presidency was signed by an autopen — except for one… the only document confirmed to have Biden’s actual signature was his letter announcing his withdrawal from the 2024 presidential race… https://t.co/ip4Z9qFc4K
Biden admin altered $20B EPA slush fund just days before Trump’s inauguration, Zeldin reveals The recently discovered slush fund that was parked at Citibank was last altered on Jan. 13 — a week before President Trump’s inauguration — and quickly doled out to a handful of far-left climate nonprofits with little oversight from the EPA… https://t.co/v9OoB24OMq
FBI arrests US Army soldiers over alleged sale of national defense info to China “Jian Zhao, and Li Tian, active-duty U.S. Army soldiers stationed at Joint Base Lewis-McChord, along with Ruoyu Duan, a former U.S. Army soldier, were arrested today following indictments by federal grand juries in the District of Oregon and the Western District of Washington,” the Department of Justice said in a Thursday press release… https://justthenews.com/nation/crime/fbi-arrests-us-army-soldiers-allegedly-selling-national-defense-information-china
@FBIDirectorKash: I can now report that today the FBI, along with our interagency partners led by @AGPamBondi, arrested two active-duty U.S. Army soldiers and one former U.S. Army soldier for theft of government property and a bribery scheme. These individuals have been charged with stealing America’s defense intelligence capabilities and empowering adversaries like China in betrayal of our country. They will now face American justice.
@paulsperry_: A CPB official told me Biden’s U4U program has been indefinitely suspended after rich Ukrainians claiming refugee status were coming into O’Hare & other major US intern’l airports in designer suits and declaring $125,000+ in cash: “It was a joke. They were not refugees.”
Dem Sen. Fetterman calls out Dems’ ‘unhinged petulance’ after Trump speech: ‘We’re becoming the metaphorical car alarm’https://t.co/E0lAP68VwQ
‘NOT ENOUGH’: California residents blast Gov. Gavin Newsom for saying he believes transgender athletes competing in girls’ sports is “unfair” — despite allowing it to occur.https://t.co/LjLApxAulH
@ABC: The Justice Department has put three federal prosecutors in Manhattan on leave, sources told ABC News. Two of the prosecutors worked on the prosecution of New York City Mayor Eric Adams. https://t.co/ocHLxAGHBB
Leftists around the globe have resurrected Sixties-style protests including acoustic guitar strumming, slogan chanting, and folksong singing. The confluence of the civile rights, women, and anti-Vietnam movements had gravitas and resonated with Americans – until violence appeared. Then, Americans turned to Nixon for two terms.
The 60s-style protests are now risible, cringeworthy, and futile. They elicit more ridicule than sympathy.
@GrrrGraphics: Democrats were singing “we shall overcome” during Rep. Al Green’s censure (on House floor), what are they trying to overcome exactly? Their own stupidity? Good luck with that!
@greg_price11: Disgraced former NIH Director Francis Collins — who famously lied about the COVID lab leak, gain of function research, and tried to censor debate about COVID restrictions — is currently singing (with guitar) a song at an anti-Trump “science” rally at the Lincoln Memorial. https://x.com/greg_price11/status/1898077685378617442
@WesternLensman: The New Face of the Democrat Party, Jasmine Crockett: Entering the US illegally is “not a crime.”… (Crockett is reputedly a lawyer!) https://x.com/WesternLensman/status/1898462409645572228 GOP Sen. @BasedMikeLee: Yeah, it’s literally a crime. See 8 U.S.C. § 1325
JD Vance says he was confronted by pro-Ukrainian protesters while walking with toddler daughterhttps://t.co/xxkLF8YECw
@libsoftiktok: Unhinged Democrats (IL Dem Rep Walsh) are now claiming that Trump will cancel elections. They purposely spread lies like this about Trump so their followers and supporters are incited to violently react. They know exactly what they’re doing. https://x.com/libsoftiktok/status/1898839484449395138
Despite at least two assassination attempts, the media and Dems keep inciting violence against Trump, Musk, Vance, etc. How can ABC allow four women to spew venom, hate, and deceit about Trump daily for almost a decade? The same can be asked of late-night talk show hosts.
@elleonCEOTK: Emergency Update!!!!!!!… On Tuesday (SOTU) a House staffer gained entry into one of the House office buildings that leads to the U.S. Capitol. That staffer was in possession of a gun. He was eventually caught and arrested…This is the fourth instance of a gun being brought in a building policed by USCP Chief J Thomas Manger since Trump was elected President… I’m told one of the guns made it in a room where President Trump was actually in and only feet away from him… Tarik K Johnson, Former Lieutenant U.S. Capitol Police
@libsoftiktok: AOC’s campaign’s Deputy Communication Director was an illegal? He has now self-deported from the US to Colombia.Why was a sitting member of Congress employing an illegal?
Topless French Women Shriek ‘Heil Donald Trump, Heil Vladimir Putin, Heil Elon Musk’ to Protest ‘Fascist Epidemic’ – “Our infantry, unarmed and nonviolent, will always be ready. We refuse to serve as a Trojan horse for the repugnant ideas of identitarian groups. We will not look away as the violent wave of masculinism sweeps across the world,” the group posted on Instagram. (Not a parody) https://www.zerohedge.com/political/titty-tantrum-topless-women-shriek-heil-donald-trump-heil-vladimir-putin-heil-elon-musk
Americans Can No Longer Tolerate European Entitlement The behavior that we’re seeing coming out of European leaders and out of Zelensky just now in the Oval Office suggests that the relationship is over… But this thing of this entitlement, I don’t think Europeans understand how angry it makes us… You have universal healthcare. You work 35 hours a week. You retire at a young age. You don’t work nearly as hard as we do in the United States. You have many more benefits in large part because we pay for all of your security or a large part of it. And in return, we just get disrespect, entitlement, like your children… https://www.zerohedge.com/geopolitical/americans-can-no-longer-tolerate-european-entitlement
**************************************************** Note: After the above report was published.
Sorry
We erred not removing an erroneous line on ESHs, NGHs, and USHs.
This line in the letter is wrong: ESHs are +23.00; NGHs are +108.00; and USHs are +10/32 at 21:15 ET.
ESHs and NQHs are down sharply on Sunday night.
SWAMP STORIES FOR YOU TONIGHT
Rubio Slashes 83% Of USAID Programs, Hails DOGE For Supporting “Historic Reform”
Monday, Mar 10, 2025 – 07:20 AM
Secretary of State Marco Rubio announced on X early Monday that, following a six-week review, the United States Agency for International Development (USAID)—a rogue agency captured by the Deep State—will see most of its programs canceled, and the State Department will oversee the remaining programs still in operation.
“The 5200 contracts that are now cancelled spent tens of billions of dollars in ways that did not serve, (and in some cases even harmed), the core national interests of the United States,” Rubio said.
He continued, “In consultation with Congress, we intend for the remaining 18% of programs we are keeping (approximately 1000) to now be administered more effectively under the State Department.”
Rubio thanked Elon Musk’s Department of Government Efficiency for this “overdue and historic reform” of USAID, which had become notorious for inefficiencies and bloated bureaucracies, wasting tens of billions of dollars of taxpayer funds on programs that undermine American interests, such as funding radical, left-wing programs around the world.
This is a political catastrophe for Democrats and Rhinos. USAID was the Deep State’s primary tool for advancing its far-left agenda and served as a slush fund for a vast network of NGOs—but that era is now over.
Moving forward, America’s interests will be put first when deciding how to allocate aid (otherwise known as statecraft) to foreign countries via the State Department.
The era of US taxpayers funding far-left NGOs worldwide that some oppose freedom of speech, capitalism, Christianity, nuclear family, and Western values has come to an end.
In October, renowned geopolitical and financial cycle expert Charles Nenner warned of a huge war cycle. Now, with the EU getting ready to fight a war with Russia, Nenner has a new warning in the economy, and President Trump will be forced to deal with both war and a big depression in the not-so-distant future. Let’s start with war. Nenner explains, “I think all the war cycles are pointing up, and we are getting into big trouble. You mention Ukraine, but I would say the situation in the Middle East is as bad and dangerous as it is in Ukraine. In Ukraine, there is a solution, and that is Ukraine is not going to be part of NATO and Russia is going to keep a little bit of the land. I am from Amsterdam, and we don’t have any army anymore, but now they want to make it official that everybody has to go back into the army. It’s like they are forcing a third world war. These people have no clue what they are doing. This will cost billions and billions of dollars. I talk to people who have their children in kindergarten, and now it is not subsidized anymore because the money is going to go to Ukraine.”
German bonds are now under stress and reportedly “melting down.” What is going on there? Nenner says, “German Bunds went down because the (EU) countries need money. This is also going to be an economic catastrophe as the economy is going to slow down. I hear they want to change into what they call a war-time economy. I don’t know exactly what this means. This is all for nothing. All this money has been destroyed. For the Americans, I am not sure, but we are talking about $500 billion now has been destroyed. . . What Zelensky does is say if we don’t stop them, Russia is going to take over Europe. I absolutely think that is totally ridiculous. . . . My long-term cycles look the same as in 1928 and 1929. They all come together, and we are in for a very bad situation. So, it could be a depression. . . . Yes, we are headed for a depression because the yearly income cycles are the same as just before the crash of 1929. In 1928 and 1927, there were already big down moves, and then they came back until the whole thing collapsed in 1929.
Recently, Nenner was shorting home builders and made 40% on the move down. Nenner is still long-term bullish on gold, and he likes silver too, but you have to be ready to be patient with silver. Nenner says the dollar is not going to crash anytime soon, although it has sold off in the last few weeks. The US dollar will stay strong for the foreseeable future. Nenner thinks a Strategic Bitcoin Reserve “is a crazy idea,” and people should concentrate on tangible investments like gold or paying off your house. On the interest rate front, Nenner predicted we hit bottom when the 10-Year Treasury was around 1%. He said interest rates would be going up. He was right, and now the 10-Year is above 4%. That is a big move. Eventually, Nenner says rates will, once again, be going back to double digits and says, “We will eventually get back to 16%.” Don’t worry, Nenner says that’s going to take a while.
There is much more in the 42-minute interview.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with renowned cycle analyst and financial expert Charles Nenner for 3.08.25.
harveyorganblog.com 
