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DEC 28/GOLD CLOSED DOWN $6.80 TO $1807.85//SILVER WAS DOWN 46 CENTS TO $23.60//PLATINUM IS DOWN $12.30 TO $1015.35//PALLADIUM IS DOWN $43.90 TO $1788.75//SOVEREIGN INDIA PURCHASES THE MOST GOLD IN ITS HISTORY: A BIG STORY!!//COVID UPDATES RE CHINA: CHINA SET TO PASS NEW VARIANTS OF COVID 19 ONTO THE WORLD STAGE!!//COVID VACCINE IMPACT//DR PAUL ALEXANDER//UK RAIL STRIKE CONTINUES TO PLAY HAVOC WITH CITIZENS AND THEIR ECONOMY//SPAIN IS THE NEXT COUNTRY TO FLOOD THEIR COUNTRY WITH STIMMIES//INSIDER REPORT SUGGESTS THE WEST IS SABOTAGING RUSSIAN ASSETS INSIDE RUSSIA//THE SAKER IS A MUST READ ON RUSSIA VS WEST//CONDITIONS INSIDE KOSOVO ESCALATE AGAIN//USA HOUSING SECTOR IN SHAMBLES AS PENDING HOME SALES COLLAPSE//TESLA USED CAR PRICES COLLAPSE AS DEMAND EVAPORATES//HAVOC CONTINUES FOR SOUTHWEST AIRLINES AHEAD OF ANOTHER STORM//SWAMP STORIES FOR YOU TONIGHT../

Date:

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December 27, 2022 · by harveyorgan · in Uncategorized · Leave a comment·Edit

GOLD PRICE CLOSED: DOWN $6.80 at $1807.85

SILVER PRICE CLOSED: DOWN $0.46  to $23.60

Access prices: closes : 4: 15 PM

Gold ACCESS CLOSE 1804.50

Silver ACCESS CLOSE: 23.52

Bitcoin morning price:, 16,665 DOWN 6 DOLLARS   

Bitcoin: afternoon price: $16,624 DOWN 47 dollars

Platinum price closing  $1015.35 DOWN $12.30

Palladium price; closing 1788.75  DOWN 43.90

END

Due to the huge rise in the dollar, we must look at gold and silver in currencies other than the dollar to understand where we are heading

I will now provide gold in Canadian dollars, British pounds and Euros/4: 15 PM ACCESS

CANADIAN GOLD: $2455.45 UP $4.302 CDN dollars per oz

BRITISH GOLD: 1501.29 DOWN 5.70 pounds per oz

EURO GOLD: 1700.58 DOWN 3.26  euros per oz

EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: DECEMBER 2022 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,814.800000000 USD
INTENT DATE: 12/27/2022 DELIVERY DATE: 12/29/2022
FIRM ORG FIRM NAME ISSUED STOPPED


072 C GOLDMAN 1
737 C ADVANTAGE 21
905 C ADM 1
991 H CME 19


TOTAL: 21 21

COMEX//NOTICES FILED re JPMorgan  0.21

DONATE

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation.

GOLD: NUMBER OF NOTICES FILED FOR DEC. CONTRACT:   21 NOTICES FOR 2100  OZ  or  .0653 TONNES

total notices so far: 20,680 contracts for 2,068,000 oz (64.323 tonnes)

 

SILVER NOTICES: 189 NOTICE(S) FILED FOR 945,000 OZ/

 

total number of notices filed so far this month  4655 for 23,275,000  oz



END

GLD

WITH GOLD DOWN $6.80

INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD//BIG CHANGES IN GOLD INVENTORY AT THE GLD: /////HUGE CHANGES IN GLD INVENTORY: A WITHDRAWAL OF 5.50 TONNES INTO THE GLD/

INVENTORY RESTS AT 918.51 TONNES

Silver//SLV

WITH NO SILVER AROUND AND SILVER DOWN 46 CENTS

AT THE SLV// :/SMALL CHANGES IN SILVER INVENTORY AT THE SLV//A DEPOSIT OF 1.715 MILLION OZ OF SILVER INTO THE SLV..

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

CLOSING INVENTORY: 509.05 MILLION OZ (THIS IS ALSO A CRIME SCENE@!!!!

Let us have a look at the data for today

SILVER//OUTLINE


SILVER COMEX OI FELL BY A SMALL SIZED 64 CONTRACTS TO 128,467 AND FURTHER FROM  THE  RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THE LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR STRONG  $0.34 GAIN IN SILVER PRICING AT THE COMEX ON TUESDAY.  OUR SHORTERS/HFT WERE  UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.34 AND WERE UNSUCCESSFUL IN KNOCKING ANY  SPEC LONGS, AS WE HAD A STRONG GAIN ON OUR TWO EXCHANGES OF 777 CONTRACTS. AS WELL WE HAD  EXCHANGE FOR RISK TRANSFER OF 0 CONTRACTS.  WE HAD ZERO  SPEC SHORT COVERINGS WITH RESPECT TO  THEIR SHORTFALL .  WE ALSO  HAD CONSIDERABLE SHORT ADDITIONS WITH THE HUGE PRICE RISE ON SILVER. // OUR  BANKERS CONTINUE TO BE PURCHASERS OF NET COMEX LONGS. BUT THEY ALSO SUPPLIED THE NECESSARY SHORT CONTRACTS>>> SOME MAJOR INCREASE OF NEWBIE SPEC LONGS ADDING TO THEIR POSITIONS CAUSING ADDITIONAL MISERY TO OUR SHORTERS.

WE  MUST HAVE HAD: 
A FAIR  ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT  23 .24. MILLION OZ FOLLOWED BY TODAY;S E.F.P… JUMP   of NIL  OZ //  V)   SMALL SIZED COMEX OI LOSS/ 

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL  – 301

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

TOTAL CONTRACTS for 21 days, total 11,433 contracts:   OR 57.165  MILLION OZ PER DAY. (544 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 57,165 MILLION OZ

.

LAST 17 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 

JAN 2022//  90.460 MILLION OZ

FEB 2022:  72.39 MILLION OZ//

MARCH: 207.430  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, 57.165 MILLION OZ INITIAL( VERY SMALL)

RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 64 DESPITE OUR $0.34 GAIN IN SILVER PRICING AT THE COMEX// MONDAY.,.  THE CME NOTIFIED US THAT WE HAD A STRONG  SIZED EFP ISSUANCE  CONTRACTS: 540 CONTRACTS ISSUED FOR MAR 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 DEC OF  23.24 MILLION  OZ FOLLOWED BY TODAY:S 0 OZ E.F.P… JUMP TO LONDON   //NEW STANDING 23.350 MILLION OZ + EFR 11.5 = 34.85 MILLION OZ.  .. WE HAVE A GOOD SIZED GAIN OF 476 OI CONTRACTS ON THE TWO EXCHANGES FOR 2.380 MILLION  OZ.. THE SILVER SHORTS ARE NOW TRAPPED AS THEY ARE HAVING CONSIDERABLE DIFFICULTY IN COVERING THOSE SHORTS.

 WE HAD  189  NOTICE(S) FILED TODAY FOR  945,000   OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL  BY A FAIR SIZED 2474  CONTRACTS  TO 440,040 AND FURTHER FROM  THE RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 4121  CONTRACTS.

.

THE FAIR SIZED DECREASE  IN COMEX OI CAME DESPITE OUR STRONG  $18.15 GAIN IN PRICE. WE ALSO HAD A STRONG INITIAL STANDING IN GOLD TONNAGE FOR DEC. AT 58.86 TONNES ON FIRST DAY NOTICE  FOLLOWED BY TODAY:S 4500 OZ E.F.P. JUMP TO LONDON //(QUEUE JUMPING = EXERCISING LONDON BASED EFP’S ) (EFP is the transfer of  contracts immediately to London for potential gold deliveries originating from London). NEW STANDING 63.323 TONNES

YET ALL OF..THIS HAPPENED DESPITE OUR $18.15  GAIN IN PRICE  WITH RESPECT TO TUESDAY’S TRADING

WE HAD A SMALL SIZED LOSS OF 531 OI CONTRACTS (1.651 PAPER TONNES) ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 1943 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 440,040 

IN ESSENCE WE HAVE A SMALL SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 531 CONTRACTS  WITH 2474 CONTRACTS DECREASED AT THE COMEX AND 1943 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS ON THE TWO EXCHANGES OF 531 CONTRACTS OR 1.651 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1943 CONTRACTS) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI (2474) TOTAL LOSS IN THE TWO EXCHANGES 531 CONTRACTS. WE NO DOUBT HAD 1) ZERO  SPECULATOR SHORT COVERINGS // CONTINUED GOOD BANKER ADDITIONS BUT THEY ALSO SUPPLIED THE NECESSARY PAPER SHORT.  WE  HAD MAJOR SHORT SPEC ADDITIONS/// // GOOD  NEWBIE SPEC  ADDITIONS  ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR DEC. AT 58.86 TONNES FOLLOWED BY TODAY’S E.F.P. JUMP TO LONDON  of 4500 oz// //NEW STANDING 64.323 TONNES///3) ZERO LONG LIQUIDATION //.,4)   FAIR SIZED COMEX OPEN INTEREST LOSS 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER/

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2022 INCLUDING TODAY

DEC

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC :

53,070  CONTRACTS OR 5,307,000 OZ OR 165.07 TONNES 21 TRADING DAY(S) AND THUS AVERAGING: 2527 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 21 TRADING DAY(S) IN  TONNES:165.07   TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2021, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS  165.07/3550 x 100% TONNES  4.64% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2022 

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

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

MARCH:.   276.50 TONNES (STRONG AGAIN/

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

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      247.54 TONNES (FINAL)

JULY:        188.73 TONNES FINAL

AUGUST:   217.89 TONNES FINAL ISSUANCE.

SEPT          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

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

DEC.           175.62 TONNES//FINAL ISSUANCE// 

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

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

APRIL:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247,44 TONNES FINAL// 

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

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

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

DEC:  165.07 tonnes Initial//VERY SMALL

SPREADING OPERATIONS

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

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW   NON ACTIVE FRONT MONTH OF NOV. WE ARE NOW INTO THE SPREADING OPERATION OF BOTH SILVER AND GOLD (WILL BE SMALL AS SPREADERS DO NOT PAY ATTENTION TO NOVEMBER)

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 OCT HEADING TOWARDS THE NON  ACTIVE DELIVERY MONTH OF NOV., FOR BOTH GOLD AND 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 (NOV), 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

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 64 CONTRACTS OI TO  128,768 AND CLOSER TO OUR 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  5 YEARS AGO.  

EFP ISSUANCE 540 CONTRACTS

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

MAR  475 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 540 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 64  CONTRACTS AND ADD TO THE 540 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A GOOD GAIN OF 476 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. 

THUS IN OUNCES, THE GAIN  ON THE TWO EXCHANGES 2.380 MILLION OZ//

OCCURRED WITH OUR 34 CENT GAIN IN PRICE ….. OUR SPEC SHORTS HAVE NOWHERE TO HIDE!

OUTLINE FOR TODAY’S COMMENTARY

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

2 ) Gold/silver trading overnight Europe,

(Peter Schiff,

end

3. Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com,

4. Chris Powell of GATA provides to us very important physical commentaries

end

5. Other gold/silver commentaries

6. Commodity commentaries//

7/CRYPTOCURRENCIES/BITCOIN ETC

3. ASIAN AFFAIRS

i)WEDNESDAY MORNING//TUESDAY  NIGHT

SHANGHAI CLOSED DOWN 8.17 PTS OR 0.26%   //Hang Sang CLOSED UP 305.85 PTS OR 1.56%     /The Nikkei closed DOWN 107.37 OR 0.41%          //Australia’s all ordinaries CLOSED DOWN .35%   /Chinese yuan (ONSHORE) closed DOWN TO 6.9757//OFFSHORE CHINESE YUAN DOWN TO 6.9854//    /Oil DOWN TO 79.20 dollars per barrel for WTI and BRENT AT 83.84    / Stocks in Europe OPENED MOSTLY GREEN         ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

a)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/

OUTLINE

3 C CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues//COVID ISSUES/VACCINE ISSUES

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 2434 CONTRACTS UP TO 440,040 DESPITE OUR THE HUGE RISE IN PRICE OF $18.15 

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE -ACTIVE DELIVERY MONTH OF DEC…  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 1943 EFP CONTRACTS WERE ISSUED:  ;: ,  . 0 FEB: 1943 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  1943   CONTRACTS 

WHEN WE HAVE BACKWARDATION,  EFP ISSUANCE IS VERY COSTLY BUT THE REAL PROBLEM IS THE SCARCITY OF METAL AND IT IS FAR BETTER FOR OUR BANKERS TO PAY OFF INDIVIDUALS THAN RISK INVESTORS ESPECIALLY FROM LONDON STANDING FOR DELIVERY. THE LOWER PRICES IN THE FUTURES MARKET IS A MAGNET FOR OUR LONDONERS SEEKING PHYSICAL METAL. BACKWARDATION ALWAYS EQUAL SCARCITY OF METAL!

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A SMALL SIZED  TOTAL OF 531 CONTRACTS IN THAT 1943 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A FAIR SIZED  COMEX OI LOSS OF 2474  CONTRACTS..AND  THIS SMALL SIZED LOSS ON OUR TWO EXCHANGES HAPPENED DESPITE OUR STRONG GAIN  IN PRICE OF $18.15. WE ARE WITNESSING  CONSIDERABLE SPEC SHORTS ADDITIONS TO THEIR SHORTFALL BUT ZERO SPEC SHORT LIQUIDATIONS. BANKERS CONTINUE  AS NET BUYERS OF COMEX GOLD CONTRACTS AS THEY HAVE BEEN NET LONG FOR THE PAST FEW MONTHS.  WE ALSO HAD STRONG  NEWBIE SPECS ADDITIONS BUT ZERO NEWBIE SPEC LONG LIQUIDATIONS 

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING DEC  (64.323)

TONNES),

 HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 12 MONTHS OF 2021-2022:

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 (TOTAL SO FAR THIS YEAR 591.535 TONNES)

Dec. 64.323 tonnes

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE $18.15)  //// AND WERE ALSO UNSUCCESSFUL IN KNOCKING ANY  SPECULATOR LONGS AS WE HAD A GOOD GAIN OF 4652 CONTRACTS ON OUR TWO EXCHANGES  //    WE HAVE GAINED A TOTAL OI  OF 14.469 PAPER TONNES OF TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR DEC. (54.57 TONNES), FOLLOWING OUR E.F.P. JUMP TO LONDON OF 4500 oz//NEW STANDING RISING TO 64.323 TONNES…THIS WAS ACCOMPLISHED DESPITE OUR RISE IN PRICE DUE TO TUNE OF $18.15.  

WE HAD – 4121 CONTRACTS  COMEX TRADES REMOVED FROM OPEN INTEREST AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES 4652 CONTRACTS OR 465,200 OZ OR 14.469 TONNES

Estimated gold comex today 114,944// awful//

final gold volumes/yesterday  165,408/  poor

INITIAL STANDINGS FOR  DECEMBER 2022 COMEX GOLD //DEC 28

GoldOunces
Withdrawals from Dealers Inventory in oz
 nil
Withdrawals from Customer Inventory in oz 35,398.257 oz
 oz
Brinks

1101 kilobars




.

 








 









 
Deposit to the Dealer Inventory in oznil oz
Deposits to the Customer Inventory, in oz
nil  oz
No of oz served (contracts) today21 notice(s)
2100 OZ
0.0653 TONNES
No of oz to be served (notices)  0 contracts 
  0 oz
0.000 TONNES

 
Total monthly oz gold served (contracts) so far this month 20,650  notices
2,065,000
64.383 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this monthNIL oz
Total accumulative withdrawal of gold from the Customer inventory this monthxxx oz

i)Dealer deposits: 0

total dealer deposit:  nil oz

No dealer withdrawals

Customer deposits: 0

total deposits: nil oz

 customer withdrawals: 1

i) Out of Brinks  35,398.251  oz (1101 kilobars)

Total withdrawals: 35,398.251 oz 

total in tonnes: 1.10  tonnes

Adjustments: 0  

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR DECEMBER.

For the front month of DECEMBER we have an oi of 21 contracts having LOST 138  contracts 

We had 93 contracts served on TUESDAY, so we LOST  45 contracts or an additional 4500 oz will NOT  stand for gold at the COMEX.  as these guys were

EFP’d over to London.

JANUARY LOST 37 contracts to stand at 1033

February gained 1280  contacts  to 369,201

We had 21  notice(s) filed today for 2100 oz 

Today, 0 notice(s) were issued from J.P.Morgan dealer account and  0  notices were issued from their client or customer account. The total of all issuance by all participants equate to  21  contract(s) of which 0   notices were stopped (received) by  j.P. Morgan dealer and 9  notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0 notice(s) received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the DEC. /2022. contract month, 

we take the total number of notices filed so far for the month (20,680 x 100 oz , to which we add the difference between the open interest for the front month of  (DEC. 21 CONTRACTS)  minus the number of notices served upon today 21 x 100 oz per contract equals 2,068,000 OZ  OR 64.323 TONNES the number of TONNES standing in this    active month of DEC. 

thus the INITIAL standings for gold for the DEC contract month:

No of notices filed so far (20,680 x 100 oz+   (21 OI for the front month minus the number of notices served upon today (21} x 100 oz} which equals 2,068,000 oz standing OR 64.323 TONNES in this  active delivery month of DEC..

TOTAL COMEX GOLD STANDING:  64.323 TONNES  (A POOR STANDING//COMEX RUNNING OUT OF PHYSICAL TO SERVE UPON OUR LONGS.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

we had one adjustment of 110,631.591 oz Brinks

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 o

total pledged gold:  2,062,155.871 OZ   64,14 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED:  23,182,880.864 OZ  

TOTAL REGISTERED GOLD:11,342,356.837 OZ     (352.79 tonnes)..dropping fast

TOTAL OF ALL ELIGIBLE GOLD: 11,840,524.027 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 9,280,201 OZ (REG GOLD- PLEDGED GOLD) 288.65 tonnes//rapidly declining 

END

SILVER/COMEX

DEC 28//INITIAL DEC. SILVER CONTRACT

SilverOunces
Withdrawals from Dealers InventoryNIL oz
Withdrawals from Customer Inventory451,511.380 oz

Brinks
CNT
Delaware
JPMorgan






















 










 
Deposits to the Dealer Inventorynil OZ
Deposits to the Customer Inventory582,527.800 oz
JPMorgan












 











 
No of oz served today (contracts)189 CONTRACT(S)  
 (945,000 OZ)
No of oz to be served (notices)204 contracts 
(1,020,000 oz)
Total monthly oz silver served (contracts)4655 contracts
 (23,275,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this monthNIL oz
Total accumulative withdrawal of silver from the Customer inventory this month


i)  0 
dealer deposit

total dealer deposits:  nil   oz

i) We had 0 dealer withdrawal

total dealer withdrawals:  oz

We have 1 deposit into the customer account

i) Into JPMorgan: 582,527.800 oz

Total deposits:  582,527.800 oz 

JPMorgan has a total silver weight: 148.744 million oz/299.312 million =49.68% of comex .//dropping fast

  Comex withdrawals: 4

i) Out of Brinks:  959.200 oz

ii) Out of CNT: 15,349.650 oz

iii) Out of Delaware: 999.360 oz

iv) Out of JPMorgan: 434,203.170 oz

Total withdrawals; 451,511.780 oz

adjustments: 2..dealer to customer

i) Brinks  443,011.04 oz

ii) Loomis: 327,174.180 oz

the silver comex is in stress!

TOTAL REGISTERED SILVER: 36.814 MILLION OZ (declining rapidly).TOTAL REG + ELIG. 299.312 MILLION OZ (also declining)

CALCULATION OF SILVER OZ STANDING FOR DEC

silver open interest data:

FRONT MONTH OF DEC OI: 204  CONTRACTS HAVING LOST 131  CONTRACT(S.) 

WE HAD  131  NOTICES FILED ON TUESDAY. SO WE LOST 0 CONTRACTS  OR  NIL oz

AS A E.F.P. JUMP TO LONDON OR A QUEUE JUMP.  WE ALSO HAD 0 CONTRACT EXCHANGE FOR RISK ISSUED FOR ZERO OZ.  

JANUARY SAW A LOSS OF 132  CONTRACTS FALLING TO  1204 CONTACTS.

FEB> GAINED 2 CONTRACTS TO 135 CONTRACTS

March LOST 219 contracts DOWN to 113,847 contracts

TOTAL NUMBER OF NOTICES FILED FOR TODAY:  189 for  945,000 oz

Comex volumes// est. volume today  32,819//awful  

Comex volume: confirmed yesterday: 46,813 contracts ( poor)

To calculate the number of silver ounces that will stand for delivery in DEC. we take the total number of notices filed for the month so far at 4655 x  5,000 oz = 23,275,000 oz 

to which we add the difference between the open interest for the front month of DEC(204) and the number of notices served upon today 189 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the DEC./2022 contract month: 4655 (notices served so far) x 5000 oz + OI for front month of DEC (204 – number of notices served upon today (189) x 500 oz of silver standing for the DEC. contract month equates 23.350 million oz.. Also we have another criminal element to our silver oz standing, the use of Exchange for Risk/  Today an addition of 0 EFR contract transfers which are “Exchange for risk” settlements.  I do not want to bore you but needless to say  they are not physical transfers so are criminal in nature. There have been 2300 Exchange for Risk contracts settled during the first 22 days of the month for 11.500 million oz.  Thus total delivery:  34.850 million oz.

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

Comex volumes:21,547// est. volume today//   awful

Comex volume: confirmed yesterday: 74,745 contracts ( good)

END

GLD AND SLV INVENTORY LEVELS

DEC 28/WITH GOLD DOWN $6.80 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A MASSIVE DEPOSIT OF 5.50 TONNES INTO THE GLD..//INVENTORY REST S AT 918.51 TONNES

DEC 27/WITH GOLD UP $18.15 TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .87 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 913.01 TONNES

DEC 23/WITH GOLD UP $19,15 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 913.88 TONNES/

DEC 22/WITH GOLD DOWN $29.35 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 913.88 TONNES

DEC 21/WITH GOLD FLAT TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.74 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 913.88 TONNES

DEC 20/WITH GOLD UP $27.05: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.73 TONNES INTO THE GLD////INVENTORY RESTS AT 912.14 TONNES

DEC 19/WITH GOLD DOWN $2.10: HUGE CHANGES IN GOLD INVENTORY AT THE GLD> A BIG WITHDRAWAL OF 3.47 TONNES FROM THE GLD//INVENTORY RESTS AT 910.41 TONNES

DEC 16/WITH GOLD UP $12.45: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.32 TONNES INTO THE GLD//INVENTORY RESTS AT 913.88 TONNES

DEC 15//WITH GOLD DOWN $31.00: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.16 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 911.56 TONNES

DEC 14/WITH GOLD DOWN $6.20: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.32 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 912.72 TONNES

DEC 13/WITH GOLD UP $32.75: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.32 TONNES INTO THE GLD///INVENTORY RESTS AT 910.41

DEC 12/WITH GOLD DOWN $17.60: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 908.09 TONNES

DEC 9/WITH GOLD UP $8.90//NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 908.09 TONNES

Dec 8/WITH GOLD UP $4.05, OVER THE PAST 3 WEEKS WE LOST 2.04 TONNES//INVENTORY RESTS AT 908.09 TONNES

NOV 14/WITH GOLD UP $7.30: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD///INVENTORY RESTS AT 910.12 TONNES

NOV 11/WITH GOLD UP $15.25//BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.19 TONNES INTO THE GLD////INVENTORY RESTS AT 911.57 TONNES

NOV 10/WITH GOLD UP $40.75: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 908.38 TONNES

NOV 9/WITH GOLD DOWN $2.00:  BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.89 TONNES INTO THE GLD////INVENTORY RESTS AT 908.38 TONNES

GLD INVENTORY: 918.51  TONNES

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

DEC 28//WITH SILVER DOWN 46 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.715 MILLION OZ INTO THE SLV///..INVENTORY RESTS AT 509.050 MILLION OZ

DEC 27/WITH SILVER UP 34 CENTS TODAY; SMALL CHANGES IN SILVER INVENTORY AT THE SLV/A WITHDRAWAL OF 550,000 OZ OF SILVER FROM THE SLV////INVENTORY RESTS AT 507.350 MILLION OZ//

DEC 23/WITH SILVER UP 29 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY REST AT507.900 MILLION O//

DEC 22/WITH SILVER DOWN 53 CENTS TODAY;NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 507.90 MILLION OZ//

DEC 21/WITH SILVER DOWN 9 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.0 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 507.90 MILLION OZ//

DEC 20/WITH SILVER UP 105 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV:: A DEPOSIT OF 700,000 OZ INTO THE SLV///INVENTORY RESTS AT 509.90 MILLION OZ//

DEC 19/WITH SILVER DOWN 13 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.05 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 509.20 MILLION OZ//

DEC 16/WITH SILVER UP 2 CENTS; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.85 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 508.15 MILLION OZ//

DEC 15/WITH SILVER DOWN 78 CENTS: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF EXACTLY 2.00 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 510.000 MILLION OZ

DEC 14/WITH SILVER UP 7 CENTS: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.7 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 512.000 MILLION OZ//

DEC 13/WITH SILVER UP 59 CENTS: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 600,000 OZ FROM THE SLV////INVENTORY RESTS AT 513.900 MILLION OZ//

DEC 12/WITH SILVER DOWN 33 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 514.500 MILLION OZ//

DEC 9/WITH SILVER RISING 77 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.2 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 514.500 MILLION OZ.

DEC 8/WITH SILVER RISING 34 CENTS TODAY: OVER THE PAST 3 WEEKS, WE HAVE GAINED A STRONG: 44.777 MILLION OZ/INVENTORY RESTS AT 516.700 MILION OZ.

NOV 14/WITH SILVER UP 41 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 471.923 MILLION OZ//

NOV 11/WITH SILVER DOWN 2 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 553,000 OZ FROM THE SLV///INVENTORY RESTS AT 471.923 MILLION OZ//

NOV 10/WITH SILVER UP 39 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV; A DEPOSIT OF 368,000 OZ INTO THE SLV///INVENTORY RESTS AT 472.476 MILLION OZ//

NOV 9/WITH SILVER DOWN 10 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV/; A WITHDRAWAL OF 3.821 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 472.108 MILLION OZ//

CLOSING INVENTORY 509.050 MILLION OZ//

PHYSICAL GOLD/SILVER STORIES

1:Peter Schiff 

The Cost Of Easy Money Is Now Coming Due

WEDNESDAY, DEC 28, 2022 – 12:09 PM

Via SchiffGold.com,

Since 2008, we have been in an era of unprecedented money printing and interest rate suppression. Now the cost of all of that easy money is coming due.

DEC 28/GOLD CLOSED DOWN .80 TO 07.85//SILVER WAS DOWN 46 CENTS TO .60//PLATINUM IS DOWN .30 TO 15.35//PALLADIUM IS DOWN .90 TO 88.75//SOVEREIGN INDIA PURCHASES THE MOST GOLD IN ITS HISTORY: A BIG STORY!!//COVID UPDATES RE CHINA:  CHINA SET TO PASS NEW VARIANTS OF COVID 19 ONTO THE WORLD STAGE!!//COVID VACCINE IMPACT//DR PAUL ALEXANDER//UK RAIL STRIKE CONTINUES TO PLAY HAVOC WITH CITIZENS AND THEIR ECONOMY//SPAIN IS THE NEXT COUNTRY TO FLOOD THEIR COUNTRY WITH STIMMIES//INSIDER REPORT SUGGESTS THE WEST IS SABOTAGING RUSSIAN ASSETS INSIDE RUSSIA//THE SAKER IS A MUST READ ON RUSSIA VS WEST//CONDITIONS INSIDE KOSOVO ESCALATE AGAIN//USA HOUSING SECTOR IN SHAMBLES AS PENDING HOME SALES COLLAPSE//TESLA USED CAR PRICES COLLAPSE AS DEMAND EVAPORATES//HAVOC CONTINUES FOR SOUTHWEST AIRLINES AHEAD OF ANOTHER STORM//SWAMP STORIES FOR YOU TONIGHT../

We’ve been paying for it through price inflation, and now we’re paying for it through a deflating bubble economy as the Fed tries to undo its malfeasance.

In the wake of the financial crisis, the Federal Reserve pushed interest rates to zero and held them there for years. It also ran three rounds of quantitative easing, pumping trillions of dollars of freshly printed money into the economy. The Fed tried to “normalize” monetary policy by raising rates and shrinking its balance sheet in 2018, but it ended up aborting that attempt when the bubbles blown up by a decade of easy money started leaking air.

The pandemic gave the Fed cover to double cut rates again and double down on QE. In less than two years, the central bank expanded its balance sheet by nearly $5 trillion and flooded the economy with more money created out of thin air.

The bubbles blown up after 2008 got even bigger.

Now the Fed is trying to fight the inevitable price inflation.

WolfStreet perfectly summed up what has happened over the last 15 years.

The era of money-printing and interest-rate repression in the United States, which started in 2008, gave rise to all kinds of stuff, and the easy money kept going and kept going, and all this money needed to find a place to go, and then money-printing went hog-wild in 2020 and 2021. And the stuff it gave rise to just got bigger and bigger, and crazier and crazier. And much of this stuff is now in the process of coming apart, I mean falling apart, or getting taken apart in a controlled manner, and some stuff has already imploded in a messy way.”

In a nutshell, what the Fed giveth, the Fed taketh away.

The unraveling is easiest to see in the real estate market since it is one of the most interest rate-sensitive segments of the economy. In some markets during the Fed-induced boom, home prices spiked by 50% and 60%. That was on top of a huge price surge before the pandemic. But now the air is coming out of the bubble. Existing home sales have dropped for 10 straight monthsYear-on-year, existing home sales have plummeted by 35.4%.

Home prices are beginning to fall as well, especially in the biggest bubble markets. In November, the median price of a house in San Francisco was down by 21% compared to a year ago, and down by 27% from May’s peak.

As WolfStreet put it, “There has been a sea-change in the real estate market. And it’s not pretty. But the bubble was so huge, and so magnificent, fueled by money-printing and interest rate repression, that the deflation of this bubble must by definition get messy.”

Easy money also helped blow up a cryptocurrency bubble. That bubble has popped.

A year ago, market capitalization in the crypto sector reached $3 trillion. But since then, the sector has been in a freefall. When the Fed started raising rates and shrinking its balance sheet, the whole thing just blows up.

The price of bitcoin has plunged by around 73%. Many of the hundreds of cryptocurrencies created during the mania have gone to zero and have been left for dead. Big companies built around crypto are going under.

“Crypto was one of the places where liquidity from money-printing went to,” WolfStreet said, “And now that the liquidity is being drained ever so slowly, the whole space started to collapse,”

The most visible bubble blew up in the stock market. Over the last decade-plus, we’ve seen a rash of crazy IPOs. Stocks for money-losing companies shot to the moon. All of the major stock market indices surged to record levels. The “fundamentals” in this stock market boom were easy money and speculative mania.

Now that the Fed has gone to a tighter monetary policy, the air is coming out of the stock market. Some of the most speculative stocks have collapsed by 70, 80, or even 90 percent. The tech-heavy NASDAQ has dropped over 34% from its highs. As WolfStreet accurately points out, the huge surge in the stock market that really started back in 2009 was fueled by money printing and artificially low interest rates.

And now we have QT and surging interest rates, and the whole circus is coming apart. Lots of these startups that became highfliers will end up in bankruptcy. Some already have. But it will drag out for a few years because there is still so much money floating around, and people are still dip-buying, and they’re still picking up these now penny stocks to try to make 100% in three days or whatever, it’s just like crypto trading.”

As WolfStreet notes, “There’s other crazy stuff that came out of the money-printing and interest rate repression era.” There are other bubbles. And they are all deflating.

Some have already imploded like a thousand US stocks and a gazillion cryptos and crypto companies. These 13 years of free money have turned out to be very costly afterwards.”

The only way to pump the bubbles back up is to go back to easy money. But that means more price inflation.

That puts the Federal Reserve in a no-win situation. It can stand firm in its inflation fights and let all of the bubbles deflate – which means a deep, painful recession. Or it can reverse course and try to rescue the bubble economy with more inflation

end

2 Lawrie Williams//Pam and Russ Martens/Jim Rickards/Mathew Piepenburg/Von Greyerz//Rickards:

END

3. Chris Powell of GATA provides to us very important physical commentaries//

A very important commentary.  For some strange reason, the Indian government behaves polar opposite to its citizens re gold ownership.

Citizens demand gold and store it as money. Government will do anything to remove gold from its citizens.

Now for the first time we witness the Indian Government as top purchases of gold these past two years.

(Gurugram/India). 

India’s central bank was top gold buyer from April 2020 to Sept. 2022

Submitted by admin on Tue, 2022-12-27 09:23Section: Daily Dispatches

From Adda24/7
Gurugram, India
Monday, December 26, 2022

With 132.34 metric tonnes of gold purchased, the Reserve Bank of India has emerged as the largest buyer of the yellow metal among central banks between April 2020 and September 2022. 

The RBI was the top gold buyer among its peers in 2020 while it stood third in 2021. In 2020 it bought 41.68 MT of gold, while in 2021 and 2022 (till September end) it bought 77.5 MT and 31.25 MT respectively.

At the end of March 2022, the RBI’s gold reserve stood at 760.42 MT, which went upto 785.35 MT at the end of September 2022, increasing gold’s share of the country’s total foreign exchange reserve to 7.86% from 7.01%. 

In March 2021, the gold reserves were at 695.31 MT, accounting for 5.87%of the country’s total forex reserves. …

… For the remainder of the report:

end

GOLD/SILVER

/4.  OTHER PHYSICAL SILVER/GOLD COMMENTARIES

5. Commodity commentaries//. 

END

6/CRYPTOCURRENCIES/BITCOIN ETC

END

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

ONSHORE YUAN: DOWN TO  6.9757

OFFSHORE YUAN: 6.9854

SHANGHAI CLOSED DOWN 8.17 PTS OR  0.26%

HANG SANG CLOSED UP 305.85 PR 1.56%  

2. Nikkei closed DOWN  107.37  PTS OR 0.41%

3. Europe stocks   SO FAR:  MOSTLY GREEN

USA dollar INDEX UP TO  104.04 Euro RISES TO 106.39 UP 3 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.446!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 133.74/JAPANESE YEN RISING AS WELL AS LONG TERM 10  YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK.

3c Nikkei now  ABOVE 17,000

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

3e Gold DOWN /JAPANESE Yen DOWN CHINESE YUAN:   DOWN-//  OFF- SHORE: DOWN

3f Japan is to buy the 9 TRILLION YEN’S worth of BONDS. Japan’s GDP equals 5 trillion usa

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund DOWN TO +2.4885%***/Italian 10 Yr bond yield RISES to 4.608%*** /SPAIN 10 YR BOND YIELD RISES TO 3.554…** DANGEROUS//

3i Greek 10 year bond yield RISES TO 4.565//

3j Gold at $1804.00//silver at: 23.78  7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble DOWN 1  AND 40/100        roubles/dollar; ROUBLE AT 71.91//

3m oil into the 79 dollar handle for WTI and  83 handle for Brent/

3n Higher foreign deposits out of China sees 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 133.74 

30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.9268– as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9862 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: 3.822% DOWN 4 BASIS PTS…GETTING DANGEROUS

USA 30 YR BOND YIELD: 3.898% DOWN 4 BASIS PTS//

USA DOLLAR VS TURKISH LIRA: 18,72…

GREAT BRITAIN/10 YEAR YIELD: 3.7185 % UP 5 BASIS PTS

end

i.b  Overnight:  Newsquawk and Zero hedge:

 FIRST, ZEROHEDGE (PRE USA OPENING// MORNING

Futures Rise As Tech Rebounds, Tesla Rout Draws Dip Buyers

WEDNESDAY, DEC 28, 2022 – 08:17 AM

US stock futures edged higher on Wednesday alongside European bourses, as a selloff in tech was set to pause following a drop on the Nasdaq in the previous session, with Tesla shares erasing earlier declines as dip-buyers returned to the stock after a seven-day losing streak. Nasdaq 100 futures rose 0.3% at 7:45 a.m. in New York, reversing earlier losses, while S&P eminis were up 0.3%. Treasury yields ticked lower as a global bond selloff eased, and a gauge of the dollar slipped.

Tesla’s brutal 11% plunge on Tuesday following a report of a plan to temporarily halt production at its China factory – which is odd since that will merely result in more output once China reemerges from its final covid lockdown, this time with natural immunity – rekindled worries about growth prospects for the broader technology industry. The shares erased a drop of over 4% in premarket trading to trade higher by 2%, after seven days of declines.

Similarly, Apple shares rose modestly in premarket trading after closing at their lowest level since June 2021 amid concerns over iPhone supply in the key holiday period. Here are some other notable premarket movers:

  • Jounce Therapeutics jumpedas much as 95% after drugmaker Gilead agreed to acquire all remaining rights to potential first-in-class immunotherapy GS-1811.
  • Prison operators CoreCivic and GEO Group drop after the US Supreme Court ordered pandemic-era border restrictions to remain in effect.

Reports that China would drop quarantine requirements for inbound visitors and begin issuing passports and Hong Kong travel permits to mainland residents may be a boost for the global economy, but they’re also raising concern about inflation pressures which could prompt the Federal Reserve to maintain tight monetary policy for long to keep inflation in check once China fully reopens.

“The stronger the positive impact on growth from Chinese reopening, the faster the global inflation, and the faster the global inflation the more aggressive the central bank actions will be,” Swissquote Bank analyst Ipek Ozkardeskaya wrote in a note.  Fears that interest rates might rise further than expected are adding pressure on technology stocks which typically suffer during monetary tightening cycles and are among the biggest stock-market losers of 2022.

The cautious mood has killed hopes for a Sasnta rally in the last trading week of 2022 after a brutal year for financial markets. Global equities have lost a fifth of their value, the largest decline since 2008 on an annual basis, and an index of global bonds has slumped 16%. The dollar has surged 7% and the US 10-year yield has jumped to above 3.80% from just 1.5% at the end of 2021.

“We may get a pivot later on next year from the Fed where they actually start cutting rates, but that’s going to happen when the situation is going to become much more dire than it is now,” Matt Maley, chief market strategist for Miller Tabak + Co., said on Bloomberg TV. “If we just have this slow grind lower, the Fed’s going to keep interest rates at high levels even if they stop raising rates in any kind of way.”

In Europe, the Stoxx 600 index advanced, led by basic-resources companies as prices for industrial metals including copper climbed. Most European bonds gained, with Germany’s 10-year yield falling more than five basis points, after hitting 2.524% yesterday, the highest in over 11 years.

Asian stocks dropped, dragged by losses in technology shares, pausing a two-day gain spurred by China’s border reopening. Hong Kong equities jumped in a catch-up rally after holidays. The MSCI Asia Pacific Index pared most of its earlier losses of as much as 0.6%. Chipmakers Samsung and TSMC were the biggest drivers of the loss. South Korea led declines in the region with the benchmark Kospi sinking more than 2% as Samsung and other key stocks traded without rights to the next dividend. Tesla-related shares including battery suppliers fell after the EV maker sank amid plans to temporarily halt Chinese production. 

Hong Kong stocks defied the broader decline in the region, with the Hang Seng surging as much as 2.6% as investors reacted to China’s removal of tourism barriers. Benchmarks of mainland shares posted drops after climbing for two days. “There are expectations that China’s normalization would work as a buffer to the global economy,” Han Jiyoung, an analyst at Kiwoom Securities, wrote in a note. “Markets will become increasingly sensitive to the actual demand recovery in China and how much it could push up inflation.” The key MSCI Asia stock gauge is poised for a December loss of 0.3% after a 15% jump in November. The index is on course for its worst year since 2008 with a 19% drop, in line with an index of global equities.

Japanese stocks fell, following US peers lower, amid growing fears over global inflationary pressure stoked by China’s reopening.  The Topix Index dropped 0.1% to 1,909.02 as of the market close in Tokyo, while the Nikkei declined 0.4% to 26,340.50. SoftBank Group contributed the most to the Topix’s loss, decreasing 1.5%. Out of 2,162 stocks in the index, 947 rose and 1,076 fell, while 139 were unchanged. “If China reopens, the focus will be on the increased demand for energy and goods, which might lead to concerns around inflation and further monetary tightening,” said Tetsuo Seshimo, a portfolio manager at Saison Asset Management.

In FX, the Bloomberg Dollar Spot Index was little changed in mixed trading. The Australian and New Zealand dollars led Group-of-10 gains while Japan’s yen and Norway’s krone slid. The yen declined for a second day after a Bank of Japan board member said it should continue with monetary easing, while the central bank offered to buy more bonds to cap rising yields. USD/JPY rose 0.5% to 134.17 following Tuesday’s 0.5% gain. End of month flows by Japanese companies and some real-money demand for dollars is starting to emerge, according to Asia-based FX traders.

In rates, treasury yields were mixed in early US trading with curve modestly flatter as long end outperforms. 10-year yields are lower by ~4bp at 3.80%, but near the highest since mid- November and just above 50-DMA level; most euro-zone 10-year yields are lower by 4bp-5bp on the day after leading Tuesday’s global bond selloff. The final coupon auction cycle of the year continues with $43BN 5-year note sale at 1pm New York time; Tuesday’s 2-year stopped through after a selloff into the bidding deadline. UK yields are higher as market reopens after extended holiday. 5s30s curve is flatter by ~1.3bp on the day ahead of 5Y note auction. Bonds in Asia are mostly lower, spurred by a drop in US Treasuries overnight as well as inflation concerns from China’s reopening. Bank of Japan conducted an unscheduled bond-buying operations. 

In commodities, oil dipped amid thin liquidity as investors weighed the fallout from a Russian ban on exports to buyers that adhere to a price cap. West Texas Intermediate crude fell 0.3% to $79.27 a barrel. Iron ore surged to its highest since early August, while copper gained in New York as China’s rollback of pandemic curbs boosted prospects for commodities demand in 2023. Gold futures fell 0.7% to $1,811.20 an ounce.

It is a slow news day with just the Richmond Fed report on deck (exp. -10, down from -9) and Pending Home Sales.

Market Snapshot

  • S&P 500 futures little changed at 3,855.25
  • STOXX Europe 600 little changed at 428.17
  • MXAP down 0.2% to 155.94
  • MXAPJ little changed at 507.94
  • Nikkei down 0.4% to 26,340.50
  • Topix little changed at 1,909.02
  • Hang Seng Index up 1.6% to 19,898.91
  • Shanghai Composite down 0.3% to 3,087.40
  • Sensex little changed at 60,914.68
  • Australia S&P/ASX 200 down 0.3% to 7,086.41
  • Kospi down 2.2% to 2,280.45
  • German 10Y yield little changed at 2.48%
  • Euro little changed at $1.0638
  • Brent Futures down 0.7% to $83.73/bbl
  • Brent Futures down 0.7% to $83.76/bbl
  • Gold spot down 0.7% to $1,800.97
  • U.S. Dollar Index little changed at 104.27

Top Overnight News from Bloomberg

  • The Bank of Japan’s shock move to double its yield cap was aimed at keeping stimulus on tap, not at changing the trajectory of policy, according to a summary of opinions from the December meeting that contributed to a weakening of the yen Wednesday
  • Stocks in Europe struggled for direction along with US equity futures as news of further moves by China to reopen its economy failed to lift investor sentiment in the final week of a dismal year for markets
  • Hong Kong will end some of its last major Covid rules, scrapping gathering limits to vaccination checks and testing for travelers, in a sweeping overhaul of policies aimed at reviving its reputation as a global financial center
  • Nations across the globe are implementing or considering measures to test or restrict travelers from China as the country of 1.4 billion abandons its Covid Zero policy and prepares to reopen borders in early January

US Event Calendar

  • 10:00: Dec. Richmond Fed Index, est. -10, prior -9
  • 10:00: Nov. Pending Home Sales YoY, prior -36.7%
  • 10:00: Nov. Pending Home Sales (MoM), est. -1.0%, prior -4.6%

AND NOW NEWSQUAWK (EUROPE/REPORT)

off this week

1.c WEDNESDAY/  TUESDAY  NIGHT

SHANGHAI CLOSED DOWN 8.17 PTS OR 0.26%   //Hang Sang CLOSED UP 305.85 PTS OR 1.56%     /The Nikkei closed DOWN 107.37 OR 0.41%          //Australia’s all ordinaries CLOSED DOWN .35%   /Chinese yuan (ONSHORE) closed DOWN TO 6.9757//OFFSHORE CHINESE YUAN DOWN TO 6.9854//    /Oil DOWN TO 79.20 dollars per barrel for WTI and BRENT AT 83.84    / Stocks in Europe OPENED MOSTLY GREEN         ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

2 a./NORTH KOREA/ SOUTH KOREA/

///NORTH KOREA/SOUTH KOREA

.

end

2B JAPAN

end

3c CHINA /

CHINA/COVID

Hong Kong scraps most COVID curbs but still masking is required. A huge percentage of citizens there are double vaxxed

and that could present major problems of vaccine injuries.

(zerohedge)

Hong Kong Scraps COVID Curbs To Revive Economic Hub

WEDNESDAY, DEC 28, 2022 – 09:30 AM

Shares of Hong Kong-listed stocks were higher after Hong Kong, a special administrative region of China, announced the end of all Covid-19 restrictions, following a similar move by mainland China weeks ago

Almost all Covid measures will be dropped on Thursday, including the mandatory polymerase chain reaction (PCR) test for all inbound travelers, the vaccine pass scheme, and quarantine requirements for close contacts, South China Morning Post reported. 

Chief Executive John Lee said the mask mandate will still be required. He explained: 

“We will not return to the old road [of tightening pandemic control].”

Lee said all social distancing measures would be relaxed, including banning groups of more than a dozen people. 

According to government figures, 93% of the population has been double-vaxxed, while 83% have been tripled-vaxxed. Unlike China, Hong Kong has used mRNA vaccines – including the BioNTech jab. 

“Hong Kong has a sufficient amount of medicine to fight Covid, and healthcare workers have gained rich experience in facing the pandemic,” Lee said. 

Since the early days of the pandemic, Hong Kong has followed lockstep with Beijing in implementing strict Covid measures. But now, since China’s recent decision to ease rules on travel in and out of the country and reopen its economy, Hong Kong has done the same. 

Investors were pleased with Hong Kong’s decision. The Hang Seng China Enterprises Index jumped as much as 3% but trimmed gains and closed up nearly 2%. The index has pierced above the 200-day displaced moving average for the first time since June 2021. 

Hong Kong and China’s road to a full reopening won’t be seamless but bumpy into the new year. This is precisely what we’ve seen when other countries have reopened. The years of self-imposed global isolation for the second-largest economy [China] appear to be over ahead of 2023. 

END

CHINA/ITALY/EUROPE

China exporting the virus again:  Milan sees 50% of Chinese arrivals infected with Omicron. Since China cannot control the virus, they wish to export it to the entire world.

(zerohedge)

“Extremely Irresponsible” China Reopens Borders, Milan Sees 50% Of Arrivals Infected With COVID

WEDNESDAY, DEC 28, 2022 – 11:47 AM

Bloomberg reports that Italian health authorities will begin testing all arrivals from China for Covid after almost half of the passengers on two flights to Milan were found to have the virus.

Additionally, in Germany, health authorities are “closely watching” the situation in China, according to Health Ministry spokesman Sebastian Guelde.

China’s National Health Commission announced on Dec. 26 that the country would end all quarantine requirements for inbound travelers from Jan. 8, 2023.

Travelers will need to obtain a negative PCR test within 48 hours of departure, it said. Currently, travelers entering China need to undergo five days of mandatory quarantine in an approved facility, followed by three days at home.

The health body added that outbound tourism, which plummeted to almost nothing during the pandemic, will resume in an “orderly” fashion.

It also removed the cap on the number of international flights to and from China.

Crucially for the rest of the world, as The Epoch Times reportsdata from travel sites show that Chinese residents are rushing to book overseas trips.

Chinese travel platform Tongcheng Travel released data on Dec. 27, showing that the number of searches for visas to go abroad increased by 10 times, and the search volume of international air tickets soared by 850 percent.

Japan, Thailand, South Korea, the United States, Singapore, Malaysia, Australia, and the UK were among the most searched destinations.

Sean Lin, a virologist and former lab director at the viral disease branch of the Walter Reed Army Institute of Research, said that the Chinese Communist Party’s (CCP) opening up of the country is actually a strategy to get everyone infected not only within China, but around the world.

When they can’t control the outbreak, they push it to the whole world. Just like when COVID first broke out in Wuhan, people who had been infected in Wuhan were allowed to travel around the world. The strategy is the same now as before,” he said.

Lin pointed to the regime’s lack of transparency amid the latest outbreak, a consistent behavior over the past three years during the pandemic.

“The CCP is not sharing data, and the international community doesn’t know how many different virus variants are spreading in China, and whether there are other compound infections,” he said.

“Under such circumstances, it is extremely irresponsible for the CCP to let the people out of the country which is a huge epidemic area. Put another way, it has a very treacherous purpose and is very malicious.”

Bloomberg notes that Italy is now sequencing those tests to see if there are new variants coming from China, the Health Ministry said in a statement. If a new strain is found, officials may impose stricter curbs on travel from China.

“We have no indication that a more dangerous mutation has developed in China that would give rise to a declaration of a virus variant area, which would result in corresponding travel restrictions,” he added.

Finally, the critical question for the world’s liberal globalists – will it be xenophobic again to block Chinese visitors?

end

Are they nuts: this is “deja vu all over again” as Yogi Berra would say:

they will not begin to test until Jan 5??????

US To Require Negative COVID Tests After “Extremely Irresponsible” China Reopens Borders

WEDNESDAY, DEC 28, 2022 – 03:05 PM

Update (1500ET): US federal officials have stated that the US will require travelers from China to submit a negative COVID-19 test beginning on January 5th.

Why not now?

Is the Biden administration xenophopbic for singling out the Chinese travelers?

As we detailed earlier, Bloomberg reports that Italian health authorities will begin testing all arrivals from China for Covid after almost half of the passengers on two flights to Milan were found to have the virus.

Additionally, in Germany, health authorities are “closely watching” the situation in China, according to Health Ministry spokesman Sebastian Guelde.

China’s National Health Commission announced on Dec. 26 that the country would end all quarantine requirements for inbound travelers from Jan. 8, 2023.

Travelers will need to obtain a negative PCR test within 48 hours of departure, it said. Currently, travelers entering China need to undergo five days of mandatory quarantine in an approved facility, followed by three days at home.

The health body added that outbound tourism, which plummeted to almost nothing during the pandemic, will resume in an “orderly” fashion.

It also removed the cap on the number of international flights to and from China.

Crucially for the rest of the world, as The Epoch Times reportsdata from travel sites show that Chinese residents are rushing to book overseas trips.

Chinese travel platform Tongcheng Travel released data on Dec. 27, showing that the number of searches for visas to go abroad increased by 10 times, and the search volume of international air tickets soared by 850 percent.

Japan, Thailand, South Korea, the United States, Singapore, Malaysia, Australia, and the UK were among the most searched destinations.

Sean Lin, a virologist and former lab director at the viral disease branch of the Walter Reed Army Institute of Research, said that the Chinese Communist Party’s (CCP) opening up of the country is actually a strategy to get everyone infected not only within China, but around the world.

When they can’t control the outbreak, they push it to the whole world. Just like when COVID first broke out in Wuhan, people who had been infected in Wuhan were allowed to travel around the world. The strategy is the same now as before,” he said.

Lin pointed to the regime’s lack of transparency amid the latest outbreak, a consistent behavior over the past three years during the pandemic.

“The CCP is not sharing data, and the international community doesn’t know how many different virus variants are spreading in China, and whether there are other compound infections,” he said.

“Under such circumstances, it is extremely irresponsible for the CCP to let the people out of the country which is a huge epidemic area. Put another way, it has a very treacherous purpose and is very malicious.”

Bloomberg notes that Italy is now sequencing those tests to see if there are new variants coming from China, the Health Ministry said in a statement. If a new strain is found, officials may impose stricter curbs on travel from China.

“We have no indication that a more dangerous mutation has developed in China that would give rise to a declaration of a virus variant area, which would result in corresponding travel restrictions,” he added.

Finally, the critical question for the world’s liberal globalists – will it be xenophobic again to block Chinese visitors?

4/EUROPEAN AFFAIRS/UK AFFAIRS//

UK

UK rail passengers are facing disrupted services into January as strikes continue

(Zhang/EpochTimes)

UK Rail Passengers Face “Significantly Disrupted” Trips Into January As Strikes Continue

WEDNESDAY, DEC 28, 2022 – 06:30 AM

Authored by Alexander Zhang via The Epoch Times,

British rail passengers have been warned to prepare for “significantly disrupted” travel into the New Year amid a wave of industrial unrest sweeping across the country.

The Network Rail, which owns and maintains the railway infrastructure in England, Scotland, and Wales, has urged people to plan ahead and check before they depart as “industrial action means rail travel will be significantly disrupted throughout December and January.”

The warning came as members of the Transport Salaried Staffs’ Association (TSSA) at train operator CrossCountry staged a 24-hour strike from 9 p.m. on Boxing Day as part of a long-running campaign for a guarantee of no compulsory redundancies, no un-agreed changes to terms and conditions, and a pay increase addressing the rising cost of living.

Meanwhile, a strike called by the Rail, Maritime and Transport union (RMT) in a separate dispute continued to cause disruptions even after it officially ended at 6 a.m. on Tuesday.

A spokesman for the UK government’s Department for Transport said: “After two years of virtual Christmases, the British public deserve better than to have their festive celebrations impacted by strikes.

“The transport secretary and rail minister have worked hard to facilitate a fair and reasonable offer, which two unions have accepted, and it is incredibly disappointing that some continue to strike.

“We urge them to step back, reconsider and get back round the table, so we can start 2023 by ending this damaging dispute.”

Hundreds Stranded

The 48-hour strike called by the RMT in a dispute over jobs, pay, and conditions began on Christmas Eve and ended at 6 a.m. on Tuesday.

But disruptions lasted well into the afternoon, as crowds of people were left waiting at major train stations across London and beyond.

Photos showed hundreds of passengers packed inside London’s King’s Cross and Paddington stations, with some journeys delayed due to the late handover of engineering works.

South Western Railway also apologised to customers after a service from Waterloo to Southampton was postponed due to a “train fault.”

Travel journalist Simon Calder said there was “chaos” at Paddington, with no trains having arrived or departed by 10 a.m. despite industrial action having ended hours earlier.

“Services have been generally OK but we did have some disruption this morning at Paddington because of the late handover of some engineering works,” a Network Rail spokesperson said.

Union Wants ‘Serious Offers’

The TSSA union believes that walkouts by staff will severely affect services at CrossCountry, which covers large swathes of the country.

TSSA members work in roles in customer service management, driver management, training, control, customer communications, safety, timetabling, and planning.

TSSA members at Great Western Railway will strike from noon on Wednesday to 11.59 a.m. on Thursday, and at West Midlands Trains from noon on Wednesday to noon on Thursday.

Earlier, the union’s organising director, Nadine Rae, said: “Our members at CrossCountry do not want to strike, especially over the Christmas holiday period, but they are sick and tired of being taken for granted.

“They deserve a pay rise to help manage the escalating cost of living, and they rightly demand job security.

“The company, like all the train operators under the control of the Department for Transport, need to face up to the fact that only serious offers which meet our aspirations will end this dispute.”

Christmas Disruptions

The UK has faced widespread disruptions with industrial action hitting multiple sectors during the festive season.

Around 1,000 members of the Public and Commercial Services (PCS) union employed by the Home Office to operate passport booths are on strike at Heathrow, Birmingham, Cardiff, Gatwick, Glasgow, and Manchester airports, went on strike on Boxing Day and will walk out again from Wednesday to Saturday.

Military personnel have been deployed at the ports to check passports during the Border Force strikes.

PCS general secretary Mark Serwotka threatened to escalate the industrial action unless the government comes forward with an improved pay offer, saying that the airport disruptions could last for months.

Last week, the National Health Service (NHS) was hit by two days of strikes, with thousands of nurses walking out on Dec. 20 and ambulance workers joining picket lines on Dec. 21.

The Royal College of Nursing (RCN) has already announced two more days of industrial action in England on Jan. 18 and 19.

PM Refuses to Budge

Prime Minister Rishi Sunak said on Dec. 23 that he was “sad” and “disappointed” about widespread disruptions caused by strikes, but continued to refuse to negotiate on public sector pay.

“I am really sad and I am disappointed about the disruption that is being caused to so many people’s lives, particularly at Christmas time,” he said.

“When it comes to the difficult question of setting public pay, the government has acted fairly and reasonably in accepting all the recommendations of the public sector pay review bodies,” he added.

“We all know the major economic challenge we all face now is inflation, it’s inflation eating into everyone’s pay packets,” he said, adding, “I want to make sure we reduce inflation, part of that is being responsible when it comes to setting public sector pay. That’s why we have an independent process.”

END

SPAIN

Now Spain is the latest country to announce billions for “inflation relief” stimmies as the cost of living skyrockets

(zerohedge)

Spain Is Latest To Announce Billions In “Inflation-Relief” Stimmies

WEDNESDAY, DEC 28, 2022 – 02:45 AM

First, it was that world-renowned incubator of policy idiocy, California, that decided that the best way to fight stimulus-driven inflation was with more stimulus, announcing this summer that it would send out up to $1,050 in “inflation relief” checks in the process of course making inflation even worse.

Then, it was Italy’s turn to announce in August that it would also inject billions in fresh stimulus to – wait for it – fight inflation (the same inflation that was the result of billions in fresh stimulus during the covid pandemic and which has led to the worst global recession and bear market since Lehman).

And since stupidity is contagious, today Spain became the latest country to unveil some €10 billion ($10.65 billion) worth of measures to “ease the pain of inflation” in its third major package this year, bringing total aid to 45 billion euros since early 2022.

Spain, like all other European countries, has been grappling with a cost-of-living crisis exacerbated by the impact of the war in Ukraine on energy prices. The package includes a one-off bonus of 200 euros for about 4.2 million households with annual incomes up to 27,000 euros and the extension of tax cuts for energy bills into the first half of next year, Prime Minister Pedro Sanchez told reporters.

And since the bonus does nothing to alleviate the supply-driven constraints that have pushed the price of energy in Europe to the limit, all Spain – and every other European country – have done is boost the coffers of LNG/Oil exporters like Russia, Saudi Arabia and Qatar, and re-exporters such as China and India.

The package follows similar announcements in March and June that included direct aid, tax cuts, soft loans and rental controls.

Amusingly, Reuters says that Europe’s desperate measures coupled with an agreement negotiated with the European Union to place a limit on gas prices for electricity production ” have had some success” and cites that “inflation for the past 12 months slowed to 6.7% in November, the lowest rate in the 27-country EU bloc.” What Reuters should be saying is that having hiked rates to the highest level in almost two decades, the ECB has assured that Europe is facing a brutal recession – if not depression – all just to own Vladimir Putin.

And while slowing inflation has indeed been aided by a fall in electricity prices, which decreased by 22.4% from a year earlier in November, largely as a result of mass hoarding of natural gas this winter, a feat that Europe will find very difficult to repeat next year, food prices have continued to hit Spaniards’ wallets, climbing 15% during October and November from a year earlier.

And yes, injecting even more “inflation-fighting” stimmies means that food (and energy) prices will only go higher unless of course those stimmies are used to boost the supply of rare commodities, which they won’t be.

Meanwhile, to deflect attention from its latest stupidity (because in one year the magicians at the ECB will be so very confused why  inflation remains so sticky and why it has to keep hiking even more as the recession transforms into a depression) the government said it will cut value added tax on essential foods such as bread, cheese, milk, fruit and vegetables and cereals to 0% from 4%, while pasta and cooking oils will have VAT slashed by half to 5%.

The funniest part: according to Pedro Sanchez, the billions in aid provided so far had helped Spain register strong economic growth this year, which he put at over 5%, above the government’s previous forecast of 4.4%, once again confirming that growth is nothing more than a measure of how much credit and/or liquidity enters the economy, either via monetary or fiscal channels; as for Spain’s real economy, it is slumping into a brutal recession along with the rest of Europe.

END

5.UKRAINE RUSSIA//

UKRAINE/RUSSIA/USA

An insider reports (special forces) that the CIA is directing sabotage attacks deep inside Russian territory.

Russia will not be happy with this!!

Special Forces Insider: The CIA Is Directing Sabotage Attacks In Russian Territory

TUESDAY, DEC 27, 2022 – 06:40 PM

Authored by Dave DeCamp via AntiWar.com,

The CIA has been using a European NATO country’s intelligence services to conduct sabotage attacks inside Russia since the February invasion of Ukraine, investigative journalist Jack Murphy reported on Saturday, citing unnamed former US intelligence and military officials.

The report said that no US personnel are on the ground in Russia but that the operations are being directed by the CIA. The US is using an ally’s intelligence services to add an extra layer of plausible deniability, and a former US special operations official told Murphy that layer was a major factor in President Biden signing off on the attacks.

Murphy said he didn’t name the NATO country whose intelligence services were being used in the report because “doing so might endanger the operational security of cells that are still operational inside of Russia.”

The report appeared on Murphy’s personal website, and in a note at the end of the piece, he explained why it wasn’t published by a media outlet. “While working with editors at mainstream publications I was asked to do things that were illegal and unethical in one instance, and in another instance I felt that a senior CIA official was able to edit my article by making off the record statements, before he leaked a story to The New York Times to undermine this piece,” he wrote.

According to the report, the covert campaign inside Russia has been years in the making. Two former military officials said that the NATO country’s spy services had hidden a cache of explosives and equipment in Russia more than a decade ago, and some of the gear has been used recently.

A former US special operations official and US person briefed on the campaign said that the CIA didn’t get involved with the NATO country’s operations inside Russia until 2014. The first time sleeper cells entered Russia that were directed by both the CIA and the NATO ally’s spy service was in 2016, and more entered the country in the following years.

The NATO ally provided the undercover operatives with stories to explain their presence in Russia and documents to back them up. The report said that around the time Russia invaded Ukraine on February 24, the NATO ally’s spy service activated its sleeper cells inside Russia using covert communication, and they were ready for orders on what targets to strike.

It’s not clear how many attacks the sleeper cells have been responsible for, but there has been a series of mysterious explosions at Russian military facilities, powerplants, and railways since the invasion. The report suggested that the saboteurs could have been behind an April fire at the research institute of Russia’s Aerospace Defense Forces, which killed over 20 people.

The sabotage operations that the CIA is overseeing require a presidential finding. President Obama signed a finding before he left office that allowed covert action against Russia over allegations that Moscow interfered in the 2016 election, a claim that has never been proven.

According to The Washington Post, Obama’s finding allows “planting cyberweapons in Russia’s infrastructure, the digital equivalent of bombs that could be detonated if the United States found itself in an escalating exchange with Moscow.” Murphy cited a former CIA official who said the finding also allowed sabotage operations against Russia, although other former officials he spoke with said the current operations would have required an amendment or an entirely new finding.

A CIA spokesperson denied the allegations made in the report, but Murphy pointed out that the spy agency can legally deny the existence of its covert operations.

The CIA directing sabotage inside Russia risks a major escalation between NATO and Russia and could lead to a nuclear escalation. Ukraine has recently stepped up its own attacks inside Russian territory, and according to The Times, the Pentagon tacitly endorsed recent drone strikes that hit air bases deep inside Russian territory, adding to the risk of escalation.

In his note at the end of the report, Murphy said that he published the story to inform the public:

“Indeed, the Russian government knows perfectly well who is sponsoring these sabotage strikes. Moreover, the intelligence community wants them to know. The only party left in the dark is the public at large, left unaware of the shadow war taking place behind the scenes,” he wrote.

Murphy said that the article “went through a vigorous fact-checking process, and was deemed newsworthy as the strategic bombings of Laos and Cambodia or the CIA’s secret drone campaign in Pakistan.”

* * *

Note: Jack Murphy is a US special forces combat veteran turned journalist who specializes in reporting on clandestine operations, including investigative reports for Yahoo News and other major publications.

END

The following was sent to me by Kevin and it is a must must read.

Kevin WallienDec 27, 2022, 5:51 PM (15 hours ago)
to me

Not much left to add

“The US political system is most unlikely to be effectively challenged from within, big money runs everything, including the most advanced propaganda system in history (aka the “free media”) and the population is kept uninformed and brainwashed.  And yes, of course, a major defeat in a war against Russia would shake this system so hard that it would be impossible to conceal the magnitude of the disaster (think “Kabul on steroids”).  And that is precisely why the Neocons cannot allow that to happen because this defeat would trigger a domino effect which would quickly involve the truth about 9/11 and, after that, all the myths and lies the US society has been based on for decades (JFK anybody?).

For all these reasons I submit that 2023 might well be one of the most important years in human history.  How many of us will actually survive it is an open question.

The most important question

25869 ViewsDecember 27, 2022 73 Comments

Looks like we will make it to Dec 31, 2022. Will we make it to December 31, 2023?

This question is not hyperbole.  I would even argue that this is the single most important question for at least the entire northern hemisphere.

I have been warning that Russia is preparing for a fullscale war since at least 2014.  Putin basically said just that in his recent speech before the Russian Defense Ministry Board.  If you have not seen this video, you really should watch it, it it will give you a direct insight into how the Kremlin thinks and what it is preparing for.  Here is that video again:

I will assume that you have watched that video and that I don’t need to prove to you that Russia is gearing out for a massive war, including a nuclear one.

Foreign Minister Lavrov has publicly declared that “unnamed officials from the Pentagon actually threatened to conduct a ‘decapitation strike’ on the Kremlin…What we are talking about is the threat of the physical elimination of the head of the Russian state, (…)  If such ideas are actually being nourished by someone, this someone should think very carefully about the possible consequences of such plans.

So, we have the following situation:

  • For Russia this war is clearly, undeniably and officially an existential one.  To dismiss this reality would be the height of folly.  When the strongest nuclear power on the planet declares, repeatedly, that this is an existential war everybody ought to really take it seriously and not go into deep denial.
  • For the US Neocons this is also an existential war: if Russia wins, then NATO loses and, therefore, the US loses too.  Which means that all those SOBs who for months fed everybody nonsense about Russia loosing the war to the general public will be held responsible for the inevitable disaster.

So much will depend on whether US Americans, especially those in power, are willing to die in solidarity with the “crazies in the basement” or not.  Right now it sure looks like they are.  Don’t count on the EU, they have long given up any agency.  Talking to them simply makes no sense.

Which might explain Medvedev’s recent words “Alas, there is nobody in the West we could deal with about anything for any reason (..) is the last warning to all nations: there can be no business with the Anglo-Saxon world because it is a thief, a swindler, a card-sharp that could do anything.”

Russia can do many things, but it cannot liberate the USA from the grip of the Neocons.  That is something which only US Americans can do.

And here we hit a vicious circle:

The US political system is most unlikely to be effectively challenged from within, big money runs everything, including the most advanced propaganda system in history (aka the “free media”) and the population is kept uninformed and brainwashed.  And yes, of course, a major defeat in a war against Russia would shake this system so hard that it would be impossible to conceal the magnitude of the disaster (think “Kabul on steroids”).  And that is precisely why the Neocons cannot allow that to happen because this defeat would trigger a domino effect which would quickly involve the truth about 9/11 and, after that, all the myths and lies the US society has been based on for decades (JFK anybody?).

There are, of course, plenty of US Americans who fully understand that.   But how many of them are in a real position of power to influence US decision-making and outcomes? The real question is whether there still are enough patriotic forces in the Pentagon, or the letter soup agencies, to send the Neocons back down into the basement they crawled out of after the 9/11 false flag or not?

Right now it sure looks like all the positions of power in the US are held by Neolibs, Neocons, RINOs and other ugly creatures, yet it is also undeniable that people like, say, Tucker Carlson and Tulsi Gabbard are reaching a lot of people who “get it”.  This *has* to include REAL liberals and REAL conservatives whose loyalty is not to a gang of international thugs but to their own country and their own people.

I am also pretty sure that there are many US military commanders who listen to what Col. Macgregor has to say.

Will that be that enough to break through the wall of lies and propaganda?

I hope so, but I am not very optimistic.

First, Andrei Martyanov is absolutely spot on when he constantly decries the crass incompetence and ignorance of the US ruling class.  And I very much share his frustration.  We both see where this is all headed and all we can do is warn, warn and warn again.  I realize that is is hard to believe in the idea that a nuclear superpower like the US is run by a gang of incompetent and ignorant thugs, but that IS the reality and simply denying it won’t make it go away.

Second, at least so far, the US general public has not (yet) felt the full effects of the collapse of the US-controlled financial and economic system.  So flag-waving “morans” can still hope that a war against Russia will look like the turkey shoot “Desert Storm” was.

It won’t.

The real question here is whether the only way to wake up the brainwashed flag-waving “morans” is by means of a nuclear explosion over their heads or not?

“Go USA” is a mental condition which has been injected into the minds of millions of US Americans for many decades and it will take either a lot of time, or some truly dramatic events, to bring these folks back to reality.

Third, the US ruling elites are clearly going into deep denial.  All this silly talk about US Patriot missiles or F-16s changing the course of the war in infantile and naive.  Frankly this would all be rather comical if it was not so dangerous in its potential consequences.  What will happen once the single Patriot missile battery is destroyed and the F-16s shot down?

How soon will the West run out of Wunderwaffen?

On a conceptual “escalation scale” what would be the next step up from Patriots and F-16s?

Tactical nukes?

Considering the rather idiotic notion that a “tactical” nuke is somehow fundamentally different from a “strategic” nuke irrespective of how it is used and where it is used is extremely dangerous.

I submit that the fact that the US ruling class is seriously contemplating both a “limited” use of “tactical” nukes and “decapitating strikes” is a very good indicator of the fact that the US is running out of Wunderwaffen and that the Neocons are desperate.

And to those who might be tempted to accuse me of hyperbole or paranoid delusions I will say the following:

This war is NOT, repeat, NOT about the Ukraine (or Poland or the three Baltic statelets).  At its absolute minimum this is a war about the future of Europe.  Fundamentally it is a war about the complete reorganization of our planet’s international order.  I would even argue that the outcome of this war will have a bigger impact that either WWI or WWII.  The Russians clearly understand this (see video above if you doubt that).

And so do the Neocons, even if they don’t speak about it.

The current situation is much more dangerous than even the Cuban missile crisis or the standoff in Berlin.  At least then both sides openly admitted that the situation was really dangerous.  This time around, however, the ruling elites of the West are using their formidable PSYOP/propaganda capability to conceal the true scope what is really going on.  If every citizen of the US (and EU) understood that there is a nuclear and conventional cross-hairs painted on his/her head things might be different.  Alas, this is clearly not the case, hence the non-existent peace movement and the quasi consensus about pouring tens of BILLIONS of dollars into the Ukrainian black hole.

Right now, the crazies are playing around with all sorts of silly ideas, including booting Russia off the UNSC (not gonna happen, since both Russia and China have veto power) or even creating a “peace conference” about the Ukraine without Russia’s participation (in a remake of the “friends of Syria” and “friends of Venezuela” thingie).  Well, good luck with that!  Apparently Guaido and Tikhanovskaia are not enough to discourage the Neocons and they are now repeating the exact same nonsense with “Ze”.

So, will we make it to December 31, 2023?

Maybe, but this is by no means sure.  Clearly, this is not an assumption the Kremlin makes, hence the truly immense strengthening of all of Russia’s strategic deterrence capabilities (both nuclear and conventional).

God willing, the old adage “si vis pacem, para bellum” will save the day, as Russia is very clearly prepared for any time of conflict, including a nuclear one.  China will also get there soon, but it is likely that 2023 will see some kind of end to the Ukrainian war: either a Russian victory in the Ukraine or a full-scale continental war which Russia will also win, (albeit at a much higher cost!).  So by the time the Chinese will be truly ready (they probably need another 2-5 years) the world will be a very different place.

For all these reasons I submit that 2023 might well be one of the most important years in human history.  How many of us will actually survive it is an open question.

Andrei

END

RUSSIA

Another Putin critic, sausage king, Antov, falls out of a window and dies

Utter/American Thinker

(Another) Putin Critic ‘Falls’ Out Of Window, Dies

WEDNESDAY, DEC 28, 2022 – 08:31 AM

Authored by Eric Utter via AmericanThinker.com,

Sausage multi-millionaire Pavel Antov, Russia’s “highest-earning elected politician,” was recently in India celebrating his 66th birthday when he reportedly fell to his death from a hotel window.

(I hate it when that happens.)

In totally unrelated news, Antov had recently criticized Putin’s actions in Ukraine, characterizing air strikes on Kyiv as “terror.”

Oddly, Antov perished shortly thereafter and just two days after a close friend of his unexpectedly died “from a heart attack.”

Antov had highlighted a Russian missile strike, saying:

A girl has been pulled out from under the rubble, the girl’s father appears to have died. The mother is trying to be pulled out with a crane – she is trapped under a slab. To tell the truth, it is extremely difficult to call this anything other than terror.

This led Antov to come under intense pressure… after which he withdrew the comment and issued a sniveling apology, claiming his social media post had been “an unfortunate misunderstanding” and a “technical error.”

Alexei Idamkin, the Russian Consul General in Kolkata, told TASS that Antov “fell” out of a hotel window in Rayagada, Odisha state.

This means Antov joins the expansive ranks of Russian doctors who, in recent years, have also inexplicably met their tragic demise falling out of hospital windows.

[ZH: And follows the death of Ravil Maganov, the vice president and chair of the board of directors of Russian oil giant Lukoil, who died in September after falling out of a sixth floor hospital window in Moscow… who was the latest in a string of unexplained or untimely deaths of Russian magnates connected to the energy industry in the last months.]

Perhaps the Biden administration should start using the same tactic to deal with its perceived enemies? It’s obvious that the Clintons would embrace such measures. And the American mainstream media would love to report that Donald Trump, Ted Cruz, Lauren Boebert, et. al., “fell out a window” to their deaths.

However, if there were many rational people left on this orb, such preposterous “explanations” for the deaths of our rulers’ political opponents would not go unchallenged.

Vlad should’ve claimed that Antov died as a result of something less preposterous than falling out of a hotel window in the winter. Maybe he should have said Antov was hit by a meteor. Or, better yet, a stray Ukrainian missile. Or that he died of climate change.

But, unfortunately, in today’s world, sanity is out the window.

Just like Antov.

end

SERBIA/KOSOVO/RUSSIA

Troubles inside Kosovo escalate again

(zerohedge)

Serbia Puts Troops On ‘Full Combat Readiness’ As Main Kosovo Border Crossing Shut

WEDNESDAY, DEC 28, 2022 – 10:35 AM

Serbian officials announced this week that the national army has been put on the highest possible level of alert as border tensions with breakaway Kosovo have soared to boiling point, and after roadblocks were set up by the Serbian minority living within Kosovo, which they don’t recognize as a legitimate state.

Following weeks of at times tit-for-tat clashes between Serbian protesters and Kosovo police, Serbia said Monday its forces have been put on a “full state of combat readiness” – after President Aleksandar Vučić ordered that “all measures be taken to protect the Serbian people in Kosovo.”

“Serbia’s president … ordered the Serbian army to be on the highest level of combat readiness, that is to the level of the use of armed force,” Serbia’s Defense Minister Milos Vucevic announced of the raised alert level.

The president also ordered a special Serbian security response unit to be beefed up, which is to result in thousands of elite troops being positioned near the restive border.

In response, on Wednesday Kosovo authorities closed its biggest border crossing. Serb protesters were already blocking it, including with large trucks, leaving only three entry points between the two sides open. Some entry points have been blocked since early December. 

As a result, thousands of Kosovars who work elsewhere in Europe have been unable to travel home, and are stuck at the border. On the other side, inside northern Kosovo, are some 50,000 ethnic Serbs who say they are persecuted by Pristina authorities, including an attempt to force Kosovo vehicle plates and state documentation on them

Serbs on the Serbian side have reportedly been assisting protesters on the Kosovo side of the border in establishing roadblocks, effectively preventing Kosovo border police from establishing control.

The catalyst for this latest flare-up in border tensions started early this month, with the arrest of a popular former Serb policeman Dejan Pantic by Kosovo. Kosovo has accused the Serbian ex-police officer who is now in detention is “of committing terrorist acts and attacking the constitutional order”; however, this enraged the ethnic Serb population there.

Meanwhile, as with many geopolitical flashpoints in eastern Europe and the Balkans, there are allegations of Russian attempts at a destabilization campaign, given its historic support for Belgrade:

Kosovo’s interior minister has accused Serbia, under the influence of Russia, of attempting to destabilize his country via the protests.

Serbia denies it is trying to destabilize its neighbor and says it only wants to protect the Serbian minority living in what is now Kosovan territory but is not recognized by Belgrade.

During a Serbian national security council held two weeks ago under President Vucic, he said he would mull a request for national forces to be sent to Kosovo to protect the Serb minority. While unlikely, such a confrontation would inevitably spark war.

END

IRAN/USA

Elon Musk is doing what no other can or will do:  He now states that 1000 starlink terminals are active in Iran.  As the Iranian government bans the internet, it is Musk that shows what is happening inside Iran

(Musk/zerohedge)

Elon Musk Says 100 Starlink Terminals “Active” In Iran Amid 100 Days Of Unrest

TUESDAY, DEC 27, 2022 – 05:40 PM

More than a hundred days since the Iranian anti-government protests began, the longest since the 1979 Islamic revolution, SpaceX Chief Executive Elon Musk announced Starlinks are operational in the region. 

On Monday, Musk tweeted, “Approaching 100 Starlinks active in Iran.” He tweeted at Wall Street Silverwho posted a video showing Iranian women walking around without hijabs. 

https://www.zerohedge.com/geopolitical/elon-musk-says-100-starlink-terminals-active-iran-amid-100-days-unrest

In September, Musk said he would activate Starlink terminals in Iran. At the time, he responded to the US Secretary of State Antony Blinken’s tweet that the US would “advance internet freedom and the free flow of information” to Iranians.

Starlink satellite broadband service — already in use across Ukraine — would allow Iranians to circumnavigate the government’s authoritarian control over the internet and social media platforms amid widespread social unrest. 

The government has blocked YouTube, Facebook, Twitter, Blogger, Telegram, Snapchat, and Medium for fear these Western social media platforms could support continued uprisings and spread information that acts like a megaphone. But with Starlink terminals, access to the outside world is now possible. 

Over the years, especially during the Arab uprisings a decade ago, social media played a critical role in mobilizing young protesters — some referred to the unrest as Facebook or Twitter revolutions. 

Reuters nor any other Western media outlet questioned who or what organizations were operating the terminals and for what purpose. If we had to guess, one logical assumption might be the terminals are used by anti-government groups with support from Western nations to disseminate information from the outside world and help organize protests to overthrow the government. 

And this could be true.

END 

RUSSIA/USA

Now it is Lavrov voicing his concern that the Pentagon is threatening to assinate Putin

(zerohedge)

Lavrov Says Pentagon Threatening To Assassinate Putin

WEDNESDAY, DEC 28, 2022 – 12:24 PM

Russian Foreign Minister Sergey Lavrov on Tuesday lashed out at what he described as threats coming out of the US to assassinate President Vladimir Putin, apparently in response to a slew of anonymously sourced reports. 

“There are some ‘anonymous officials’ from the Pentagon who have actually enunciated threats to deliver a ‘decapitating strike’ on the Kremlin, which is in fact an assassination threat against the Russian president,” Lavrov said, according to TASS. 

“If someone really has such ideas, then this someone should think long and hard about the possible consequences of such plans,” the top Russian diplomat warned. 

The condemnation also came less than a week after Senator Lindsey Graham called for someone to “take out” the Russian president for the war in Ukraine to end. 

But it appears Lavrov specifically had in mind a September report published in Newsweek which relied on anonymous US defense officials describing that the Biden administration was mulling plans for a “decapitation strike to kill Putin in the heart of the Kremlin.”

Below is the relevant section from that September 29 Newsweek article

Details about what “decisively” means have not been publicly revealed. The military sources tell Newsweek that there are subtle moves being made with regard to nuclear threats, including moving submarines and aircraft and drilling B-52 bombers. But they stress that non-nuclear military options—the use of conventional weapons and special operations, as well as cyber and space attack—are front and centerto include a decapitation strike to kill Putin in the heart of the Kremlin.

Continuing his Tuesday response to this and more recent threats emanating from the West, Lavrov said that “It seems that they have shed all vestiges of respectability.”

He added: “The notorious [ex-British PM] Liz Truss is a vivid example given that she directly and publicly said during her pre-election campaign that she was ready to order a nuclear strike,” he recalled.

Lavrov also addressed a growing atmosphere of dangerous nuclear rhetoric and confrontation. “It is no secret to anyone that the strategic goal of the United States and its NATO allies is to defeat Russia on the battlefield as a mechanism for significantly weakening or even destroying our country,” he said.

Related to this, he explained further, “[Ukrainian President] Vladimir Zelensky had gone as far as urging NATO states to deliver preventive nuclear strikes against Russia. This crosses the line of what is acceptable. However, we heard far worse statements from figures within the [Kiev] regime.” He said all of this was part of a US-NATO plan to weaken and divide Russia.

end

6/GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES

Vaccine//Covid issues: Injuries

Injuries:

GLOBAL ISSUES

PAUL ALEXANDER

Extremely important:

BA.5 sub-variant is leaving the building at 7%, while BQ .1 & BQ 1.1 & XBB accounts for 81% proportions of circulating variants; what a mess for Pfizer & its failed ineffective 8-mice BIVALENT booster

What does this mean? It means the bivalent booster is failed and junk & when Rochelle got her 5th shot and got infected, the nation realized it is junk; won’t touch it; worthless garbage!

DR. PAUL ALEXANDERDEC 28
 
SAVE▷  LISTEN
 

XBB is particularly surging! This is what happens when you keep vaccinating into a pandemic with massive infectious pressure with a sub-optimal vaccine that induces sub-optimal vaccinal immunity (induced vaccinal antibodies have not gotten to their full binding, maximal affinity because you idiots vaccinated while pathogen was circulating) that places the target spike antigen under sub-optimal pressure; the result is natural selection pressure that ‘selects’ for the fittest most infectious sub-variants that will become enriched in the environment and dominate e.g. like omicron BA.5. Yikes, let us hope we do not get a Marek chicken virus happening here with ‘hotter’ strains being transmitted. There is a tremendous likelihood. Those continuing this vaccine program know just what they hell they are doing, in that this pandemic will continue for 100 more years. Fauci & Francis Collins, Bourla and Bancel, drag them into a court and depose them under oath.

More variants to come!!

end

“Controlled Opposition: the problem is McConnell and McCarthy, not Trump or DeSantis”; Mitch McConnell and Kevin McCarthy are bought and paid for Uniparty assets. Very dangerous men

The Dossier, Jordan Schachtel; very good piece by Jordan, good scholarship and hones in on the real demons we face, this being McConnell and McCarthy who never answered to the American people

DR. PAUL ALEXANDERDEC 28
 
SAVE▷  LISTEN
 

These men, among many in the congress and senate (and women), are owned by special interests, deep dark forces that buy them out. Own them.

For all of the editorial ink spilled this week about how Donald Trump is to blame for the lack of a “Red Wave,” or speculation about the DeSantis v Trump presidential debate, there seems to be very little attention paid to the institutional forces that have been running the Republican Party for decades.

END

Fabian Spieker (Vigilance per VAERS) provides data showing in Germany that the COVID gene injection boosters are driving COVID waves of infections/cases & EXCESS mortality! Strong correlation of 0.63

German booster waves precede German COVID-19 waves by 13 weeks (in line with VAERS); proportion of people who have received a booster dose & respective average weekly excess mortality 0.63 Pearson r

DR. PAUL ALEXANDERDEC 27
 
SAVE▷  LISTEN
 

See straightforward scholarship by Spieker (support him), excellent work using German data. Key findings:

‘Boosters are causing excess mortality by making people more susceptible to severe COVID-19 which I deduce from the following observations:

  1. Each of the 3 waves of booster administrations is followed by a wave of COVID-19 cases 13 weeks later and a wave of excess mortality 15-16 weeks later.
  2. VAERS reports show a peak in reports about COVID-19 pneumonia in the 14th week after administration of a booster dose.
  3. The Pearson correlation between the average weekly excess mortality rate of 2022 and the proportion of people who have received a booster is 0.63 (strong).
  4. The 2 states with the lowest excess mortality rates are the ones with the lowest booster rates.
  5. Extended booster vaccination has been shown to induce humoral and cellular immune tolerance in mice.’

See Spieker’s work here:

The Wellness Company

Vigilance per VAERS

Excess deaths and boosters by state in Germany

THIS ARTICLE IS ALSO AVAILABLE IN GERMAN Summary After having previously demonstrated that German booster waves precede German COVID-19 waves by 13 weeks which was confirmed by VAERS reports, I looked at German booster rates and German excess mortality by state…

Read more

5 days ago · 23 likes · 10 comments · Fabian Spieker

See my prior substack on Germany’s mortality data:

Alexander COVID News-Dr. Paul Elias Alexander’s Newsletter

Germany & the impact of mass vaccination using the COVID mRNA gene injections, look at their deaths from 2016 to 2022; graph is shocking & tells us a story that we see across high vaccinated nations

You never ever mass vaccinate across all age groups into a pandemic while there is massive infectious pressure and using a vaccine that is sub-optimal that does not sterilize/neutralize the virus (does not stop infection, replication, or transmission); there will be resulting natural selection pressure on the target antigen and there will be selection o…

Read more

Open in app or onlineCox: “Why Do Vaccinated People Represent Most COVID-19 Deaths Right Now?”; US deaths; this graph is staggering for it shows you the danger of the booster in causing death (in the vaccinated)

Share of COVID-19 Deaths by Vaccination Status, 30 Jurisdictions In the U.S., September 2021 To August 2022, Age 18 and Over

DR. PAUL ALEXANDERDEC 27
 SAVE▷  LISTEN 

‘The data from this chart come from the CDC, which collects data on the number of deaths by vaccination status from 30 health departments (including states and cities) across the country. In order to be counted as vaccinated, a person must be at least two weeks out from completing their primary series before testing positive (for example, at least 14 days after completing two doses of the mRNA vaccine). Similarly, to be counted as having a booster, a person must be at least two weeks out from their booster or additional dose before testing positive. People who were partially vaccinated are not included in this data.’SOURCE:


https://www.kff.org/policy-watch/why-do-vaccinated-people-represent-most-covid-19-deaths-right-now/#:~:text=The%20share%20of%20COVID-19,deaths%20were%20vaccinated%20or%20boosted

Enlarged portions:
September 2021:August 2022:
Open in app or onlineJapan: look at what is happening in Japan, escalating infections and cases, elevating spiking deaths, and look carefully, it is one of the most highly COVID gene injected nations; this trend is stableI

wonder what is happening? Do you think it has anything to do with the mRNA COVID gene injections? Look at excess mortality

DR. PAUL ALEXANDERDEC 27
 SAVE▷  LISTEN 

/SLAY NEWS/

/VACCINE IMPACT

Will 2023 be a “Tsunami of Regret”? Dr. Sherri Tenpenny Predicts the Worst is Yet to Come with the Fallout from the COVID Shots

December 27, 2022 7:46 pm

Dr. Sherri Tenpenny is someone whose work we have featured here at Health Impact News for the past 11 years. She is a doctor of Osteopathy, and has been a fierce vaccine critic for decades now. Sherri is not one of these talking head medical doctors who have risen to fame since the experimental COVID bioweapon shots were introduced at the end of 2020, simply because they have taken a political stand against some the criminal aspects of the COVID shots. Most of these new talking head doctors and other “experts” still promote all the other toxic and dangerous vaccines that the CDC recommends, and many of them also still recommend the COVID shots for certain age groups, while not recommending them for others. Some of these new “experts,” have even publicly admitted they were fooled by the propaganda, and initially took a COVID shot before realizing how bad they were. Dr. Jane Ruby’s recent interview with Dr. Sherri Tenpenny provides great information. Dr. Tenpenny is a true expert on this topic, having understood the dangers of vaccines long before the COVID-19 bioweapon shot appeared. She is not new to this topic, and so I highly recommend watching this video as they summarize where we are today with the COVID-19 shots, and what is likely coming in the future as we head into 2023. Dr. Tenpenny believes we are just at the beginning of the wave of deaths and disabilities that are going to result in people who have taken the COVID-19 shots.

Read More..

MICHAEL EVERY/RABOBANK

Michael Every on the day’s most important events:

end

7//OIL ISSUES//NATURAL GAS ISSUES/USA AND GLOBE

END

8.EMERGING MARKETS ISSUES//AUSTRALIA ISSUES.

AUSTRALIA//COVID

The Aussie regime is still behind the times with respect to COVID mandates. Now they are asking neighbours to rat out anti government, anti police or COVID vaccine conspiracy theorists.

(zerohedge)

Aussie Cops Ask Neighbors To Rat Out ‘Anti-Government, Anti-Police, Or COVID-Vaccine Conspiracy Theorists’

TUESDAY, DEC 27, 2022 – 09:40 PM

Australian police are using a brutal ambush on two cops to encourage residents to rat out neighbors who are skeptical of the Covid-10 vaccine, or harbor anti-government views.

On December 12, two Brisbane police officers were gunned down by a family of rural Australians, who opened fire as the two officers approached their home. Constables Rachel McCrow, 29, and Matthew Arnold, 26 died in the attack, while a third officer, Constable Randall Kirk, was shot in the leg but managed to escape. A fourth officer, Keely Brough, fled to safety in the bushes.

Later that evening, members of the rural family were killed in a shootout with tactical police.

In response to the incident, Deputy Commissioner Tracy Linford suggested that neighbors need to assume anyone who harbors non-mainstream views is clearly a threat.

“As I said before, if there’s anybody out there that knows of someone that might be showing concerning behavior around conspiracy theories, anti-government, anti-police, conspiracy theories around COVID-19 vaccination as what we’re seeing with [shooting perpetrators] the Train family, we’d want to know about it. We want to know about that. And you can either contact the police directly or go through Crime Stoppers,” she said.

In response, Rebel News‘ Avi Yemini replied: “Queensland Police appealing to the public to dob in their neighbours who “are anti-government or believe Covid-19 vaccine conspiracy theories.””

This has not sat well with many:

Show additional replies, including those that may contain offensive conte

END

Your early  currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings WEDNESDAY morning 7:30 AM

EURO VS USA DOLLAR:1.0639  UP .0003 

USA/ YEN 133.74  UP  0.247/NOW TARGETS INTEREST RATE AT .50% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN  RISES//

GBP/USA 1.2079 DOWN   0.0052

 Last night Shanghai COMPOSITE CLOSED DOWN 8.17 PTS OR 0.26% 

 Hang Sang CLOSED UP 305.95 POINTS OR 1.56% 

AUSTRALIA CLOSED DOWN .35%  // EUROPEAN BOURSE: MOSTLY GREEN EXCEPT GERMAN DAX 

Trading from Europe and ASIA

I) EUROPEAN BOURSES  MOSTLY  GREEN EXCEPT GERMAN DAX

2/ CHINESE BOURSES / :Hang SANG CLOSED 

/SHANGHAI CLOSED DOWN 8.17 PTS OR 0.26%

AUSTRALIA BOURSE CLOSED DOWN .35% 

(Nikkei (Japan) CLOSED DOWN 107.37 PTS  OR .41%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1806.50

silver:$23.86

USA dollar index early WEDNESDAY morning: 104.14 DOWN 4  BASIS POINTS from TUESDAY’s close.

 WEDNESDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing WEDNESDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 3.494% DOWN 1  in basis point(s) yield

JAPANESE BOND YIELD: +0.446% DOWN 0 AND 6/100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.570%// DOWN 1 in basis points yield 

ITALIAN 10 YR BOND YIELD 4.619UP 1/2    points in basis points yield ./ THE ECB IS QE ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: RISES TO +2.493%  DOWN 2 BASIS PTS 

END

IMPORTANT CURRENCY CLOSES FOR WEDNESDAY  

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

Euro/USA 1.0625 DOWN 11  or 11 basis points//

USA/Japan: 134.20 UP .716 OR YEN DOWN 72  basis points/

Great Britain/USA 1.2037 UP .0011 OR  11 BASIS POINTS //

Canadian dollar  DOWN .0068 OR 68 BASIS pts  to 1.3592

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED ..(DOWN) AT 6.9787

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)…. 6.9931

TURKISH LIRA:  18.72  EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.

the 10 yr Japanese bond yield  at +0.446

Your closing 10 yr US bond yield UP 2 IN basis points from TUESDAY at  3.881% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

 USA 30 yr bond yield   3.974  UP 3 in basis points 

Your closing USA dollar index, 104.13 UP 0.24  BASIS PTS   ON THE DAY/1.00 PM/

Your closing bourses for Europe and the Dow along with the USA dollar index closing and interest rates  WEDNESDAY: 12:00 PM

London: CLOSED UP 29.11 PTS OR  0.39%

German Dax :  CLOSED DOWN 67.96  POINTS OR 0.49%

Paris CAC CLOSED DOWN 40.18  PTS OR 0.61% 

Spain IBEX CLOSED DOWN 13.60 OR  0.16%

Italian MIB: CLOSED DOWN 94.03PTS OR  0.39%

WTI Oil price 78.31   12: EST

Brent Oil:  82.61  12:00 EST

USA /RUSSIAN ///   DOWN TO:  72.19/ ROUBLE DOWN 1 AND 80/100       RUBLES/DOLLAR

GERMAN 10 YR BOND YIELD; +2.495

UK 10 YR YIELD: 3.684  UP 2 BASIS PTS.

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0609  DOWN .0029    OR 29 BASIS POINTS

British Pound: 1.2022 DOWN   .0004  or  4 basis pts

BRITISH 10 YR GILT BOND YIELD:  3.6760% UP 2 BASIS PTS

USA dollar vs Japanese Yen: 134.48    UP 1.003/YEN DOWN 100 BASIS PTS//

USA dollar vs Canadian dollar: 1.3598 UP .0074 (CDN dollar, DOWN 74 basis pts)

West Texas intermediate oil: 78.22

Brent OIL:  83.09

USA 10 yr bond yield UP 3 BASIS pts to 3.885%

USA 30 yr bond yield UP 3  BASIS PTS to 3.975%

USA dollar index:104.23 UP 33  BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 18.72

USA DOLLAR VS RUSSIA//// ROUBLE:  72.19  DOWN 1 AND  80/100 roubles

DOW JONES INDUSTRIAL AVERAGE: DOWN 365,85 PTS OR 1.10% 

NASDAQ 100 DOWN 143,17 PTS OR 1.32%

VOLATILITY INDEX: 22.23 UP 0.58 PTS (2.68)%

GLD: $167.91 DOWN 0.76 OR 0.45%

SLV/ $22.11 DOWN $0.51 OR 2/31%

end)

USA trading day in Graph Form

Tesla Jumps But Everything Else Dumps…

WEDNESDAY, DEC 28, 2022 – 04:00 PM

So it seems China re-opening is now ‘bad’ news, like Zero-COVID was ‘bad’ news?

China’s offshore yuan tumbled back to more than 7/USD…

Source: Bloomberg

And US equities tumbled, bounced, then re-tumbled on the headlines about US requiring negative COVID tests for Chinese visitors late on. Small Caps were the biggest losers followed closely by Nasdaq, then S&P and The Dow – all followed the same trajectories as hopes for a Sant Claus rally evaporate…

“The stronger the positive impact on growth from Chinese reopening, the faster the global inflation, and the faster the global inflation the more aggressive the central bank actions will be,” Swissquote Bank analyst Ipek Ozkardeskaya wrote in a note. 

Fears that interest rates might rise further than expected are adding pressure on technology stocks which typically suffer during monetary tightening cycles and are among the biggest stock-market losers of 2022.

TSLA shares rallied today (after 7 straight down days)…

AAPL briefly dropped below $2 trillion market cap today (for the first time since March 2021)…

Source: Bloomberg

Treasuries were mixed today with the short-end outperforming (2Y -2bps on a roll, 30Y +4bps)…

Source: Bloomberg

The market’s expectations for The Fed’s rate actions continues to drift hawkishly…

Source: Bloomberg

The 30Y Yield pushed up towards 4.00% – its highest in six weeks…

Source: Bloomberg

The dollar dumped and pumped today, turning green for the week…

Source: Bloomberg

Bitcoin was volatile but extended yesterday’s losses…

Source: Bloomberg

Gold ended the day lower but held above $1800…

Oil prices slipped lower today as the surge in China COVID cases raised anxiety again with WTI back below $80…

Finally, December has been an ‘odd’ month with the S&P 500 basically cumulatively unchanged during the overnight session, but down a dramatic 240 points cumulatively from the close to the open

Will that continue in 2023?

END

EARLY MORNING TRADING//

EARLY AFTERNOON TRADING

ii) USA DATA

Pending home sales is a leading indicator of existing home sales.  They crashes by the most on record

The housing industry in the uSA is in big trouble

(zerohedge)

US Pending Home Sales Crash By Most On Record

WEDNESDAY, DEC 28, 2022 – 10:08 AM

Existing home sales crashed but new home sales rebounded in November, which leaves today’s pending home sales as the deciding vote for just how apparently dismal the US housing market really is.. and the decision is – the housing market is in trouble as pending home sales tumbled 4.0% MoM (vs -1.0% exp) and October’s drop was revised even deeper…

Source: Bloomberg

That is the 6th straight month of pending home sales declines (and 12th of the last 13 months).

On a year-over-year basis, pending home sales collapsed 38.60%, the largest annual drop ever.

“There are approximately two months of lag time between mortgage rates and home sales,” Lawrence Yun, NAR’s chief economist, said in a statement.

“With mortgage rates falling throughout December, home-buying activity should inevitably rebound in the coming months and help economic growth.”

Pending sales fell in all four regions in the month, led by the Northeast and Midwest.

Outside of the COVID-Lockdown collapse, this is the lowest pending home sales index level ever…

Source: Bloomberg

Most problematically, pending home sales are often looked to as a leading indicator of existing-home purchases given properties typically go under contract a month or two before they’re sold

END

III) USA ECONOMIC STORIES.

Soaring borrowing costs have decimated the new and used car industry.  Add Tesla to the list as demand evaporates

(zerohedge)

Used Tesla Prices Plunge As Demand Evaporates

WEDNESDAY, DEC 28, 2022 – 06:55 AM

Readers have been well informed about the impending auto market disaster (for those unfamiliar, read here). The latest domino to fall is the days used Teslas could demand lofty premiums, which is now in the rear-view mirror as demand falters and supply increases. 

According to Reuters, citing new automotive pricing data from Edmunds, average prices for used Teslas in November were $55,754, down a whopping 17% from a July high of $67,297. The steep decline comes as the overall used car market is only down 4% in the same period. Also, used Teslas stayed on dealer lots for an average of 50 days in November, compared with just 38 days for all other used cars, a worrying sign of demand issues for the electric vehicle maker. 

Teslas were all the rage during the pandemic and the Ukraine war. As gasoline and diesel prices skyrocketed earlier this year, demand for Teslas spiked. But now, since fuel prices recede, borrowing rates soar, and Tesla output increases amid a crowded EV space, the price of used Teslas is falling faster than any used car on the market. 

Edmunds found that a third of used Teslas produced this year for sale were up for resale in August. This signified that flippers were trying to make a quick buck off the EV bubble. Data showed Teslas were the most sought after than any other EV brands for flippers. Now with prices sliding, flipping at a premium is becoming harder. 

“You can’t sell your current Tesla for more money than you paid for it, which was true for a lot of the past two years. 

“That would reduce demand for new Teslas,” said Karl Brauer, executive analyst at car sales website iSeeCars.com

We’ve made it clear that soaring borrowing costs are crushing used car demand: according to Bankrate, as of Dec. 27, the average used car interest rates is quickly approaching 7%, almost doubling since the start of the year, and the highest in 12 years.

Tesla CEO Elon Musk has called on the Federal Reserve “to cut interest rates immediately” or risk “amplifying the probability of a severe recession.” Musk is worried about a Fed-induced recession that could crash the car market. 

As for new Teslas, the company offered a rare $7,500 discount for this month only. On top of that, another perk was offered: free supercharging for 10,000 miles. 

end

This is a good start

(Haughey/EpochTimes)

Momentum To Axe Income Tax Mounts In State Legislatures

WEDNESDAY, DEC 28, 2022 – 07:20 AM

Authored by John Haughey via The Epoch Times,

Mississippi could become the nation’s 10th state to eliminate its personal income tax, with Republican Gov. Tate Reeves and House Speaker Philip Gunn (R-Clinton) backing differing plans to do away with the levy when lawmakers convene their 2023 session on Jan. 3.

Similar 2023 proposals to erase immediately, or phase-out, state income taxes are also expected to be filed in West Virginia, Arkansas, Iowa, Georgia, North Dakota, Utah, and, perhaps, Wisconsin. 

Such measures are not unusual in state houses but are usually symbolic bills lodged by fiscal conservatives who argue taxing individual incomes to fund state—and in some cases, local— governments is counter-productive, especially with an array of alternate assessments available to replace “lost” revenues generated by personal income taxes.

But as legislatures enter their third sessions since the 2020 pandemic pumped trillions in federal recovery and stimulus assistance into state and local government coffers, and with tax revenues rebounding far faster than anticipated, many state budgets are touting temporary surpluses.

Some governors and lawmakers say these surpluses should be funneled back to taxpayers. During 2022 sessions, Washington, D.C.-based Tax Foundation reports more than half the states approved personal tax rebates, 38 trimmed assorted taxes, and at least 11 debated phasing out personal income levies altogether. 

As state leaders assemble 2023 budget projections, the same issues are on the front burner, with revenue surpluses prodding lawmakers to push for another round of tax cuts despite acknowledging the largesse is temporary and amid calls for prudence in the face of a potential recession, that some economists say the nation is already experiencing. 

Nine states right now don’t assess personal income taxes—Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming—with Mississippi the most likely to join their ranks in 2023.

In 2022, Mississippi lawmakers adopted the largest tax cut in state history, a phased $525 million cut beginning this year before implementing a flat 4-percent income tax by 2026. 

In doing so, Mississippi became the 10th state to adopt a flat tax, meaning the same tax rate is assessed for all earners regardless of income. Flat tax proposals are also a trend in state legislatures. 

Mississippi lawmakers will have $3.9 billion in surplus “unencumbered money” when they convene their 2023 session, with about a third of that emanating from recurring tax revenues. 

Gov. Reeves has vowed to lobby for the full elimination of the state’s income tax in the coming year, telling the Mississippi Economic Council in October that the state is in the best fiscal and financial shape in its history, collecting billions in “excess revenue” that would allow it to eliminate the income tax without cutting expenditures.

Lawmakers have discussed eliminating the income tax during their last two sessions but, in 2022, settled on the phased $525 million cut over the next four years.

Reeves objective is supported by House Speaker Gunn, who does not want tax rebates—as many lawmakers advocate—but “permanent, long-term tax relief.” 

While Reeves and Gunn share the same goal, their proposed paths in replacing “lost” income tax revenues vary and are opposed by Republican Lt. Gov. Delbert Hosemann and GOP Senate leaders, who prefer giving taxpayers one-time rebates from the surplus.

How these proposals play out will be among the top issues debated between January and April in Jackson. Other states will also deliberate similar initiatives.

West Virginia Republican Gov. Jim Justice has supported eliminating the state’s income tax since 2020, but the state Senate “has other ideas,” according to House Del. Amy Summers. (Saul Loe/AFP via Getty Images)

Where Eliminating Personal Income Tax is on Tap

—West Virginia: In 2022, the House passed House Bill 4007, which would have implemented a 10-percent cut to each of the state’s personal income tax brackets as a precursor to whittling the levy away altogether.

The Senate rejected HB 4007 and instead placed a ballot measure before voters that would have accorded lawmakers the capacity to eliminate six categories of tangible personal property taxes, including levies on machinery and equipment, inventory, and motor vehicles. 

 The measure, Amendment 2, was opposed by Republican Gov. Jim Justice, who has called for eliminating the state’s personal income tax since 2020 and was shot down by voters in November.

Del. Amy Summers (R-Flemington), one of HB 4007’s sponsors, told The Epoch Times, “Yes, there absolutely is interest” in the House in proposing a similar bill in 2023.

“We’re hoping to make a good stab at that—a minimum of 10 percent up to 30 percent. The governor will support that,” she said, noting the slash would “draw business and population to the state.”

As of mid-December, no formal proposal had surfaced at the House. “The next step will be to see what the Senate does,” Summers said, noting Senate leaders have “a different idea” centered on “trying to do workarounds. We’re not sure if we’re interested in workarounds” or targeted slashes.

“You will see a bill the first week,” she said,

Del John Paul Hott (R-Petersburg), also an HB 4007 co-sponsor, told The Epoch Times he was unsure what would happen in 2023. 

“We’ll have to wait and see what they (the Senate) move forward with. I have always openly supported a cut in personal income tax,” he said, noting there are “really good ideas” being bantered about for 2023.

Like Summers, Hott said the ultimate goal is to “continue to position West Virginia to compete with neighboring states” and be in “a competitive position with job opportunities and low taxes to allow workers to keep more of what they earn.”

That’s more possible now than ever before, he said, “We have a surplus here in West Virginia of $1 billion—that’s billion with a ‘b,’” he said.

Georgia governor Brian Kemp pictured during a dinner reception in Atlanta, Ga., on June 6, 2022. (Laurie Dieffembacq/Belga Mag/AFP via Getty Images)

—Georgia: In April, Republican Gov. Brian Kemp signed HB 1437 into law. The bill replaces Georgia’s income tax brackets with a 5.25 percent flat-rate income tax that will be shaved back to 4.99 percent by 2029. 

Georgia’s top income tax rate was 5.75 percent, which applied to earned income over $7,000 for a single person or more than $10,000 for a married couple or single person with dependents.

Some lawmakers during the 2022 session lobbied to cut personal income taxes further, with several Republicans in both chambers proposing to eliminate the levy altogether.

Among them was former Senate President Pro Tem Sen. Butch Miller (R-Gainesville), who defined income tax “as theft, pure and simple,” and former Sen. Burt Jones, R-Jackson. 

Miller lost his campaign for Georgia secretary of state in November, so he is no longer in the Senate, while Jones was elected lieutenant governor which, under Georgia’s Constitution, makes him Senate President.

House Ways & Means Committee Chair Rep. Shaw Blackmon (R-Bonaire) said he was uncertain how the legislature would proceed in 2023, noting committee assignments—including his leadership of the key House panel—won’t be confirmed until lawmakers convene on Jan. 9.

He is certain taxes, in general, will again be among issues addressed by state lawmakers in 2023 but was hesitant to speculate on specifics until the session convenes.

“I think, generally, our goals would be continue to find ways to relieve the burden on taxpayers,” Blackmon told The Epoch Times.

—Wisconsin: In 2022, Sen. Roger Roth (R-Appleton) introduced a bill that would eliminate Wisconsin’s income tax, which is the nation’s oldest—first levied in 1912—when tax collections exceed expenditures. 

Roth’s bill would have reduced the state’s individual income tax rates by $1.7 billion for the 2022 tax year based on excess revenue in state coffers. The initiative was shelved until the 2023 legislative session after the Republican-controlled legislature rejected Democratic Gov. Tony Evers’ proposal to dedicate the surplus to education and cut a one-time $150 check for every state resident.

Wisconsin Republican state senator Roger Roth. (The Epoch Times)

The issue will be discussed again in 2023. House Finance Committee Chair Rep. Marl Born (R-Beaver Dam) told The Epoch Times in an email comment

“Wisconsin Republicans have prioritized cutting taxes for over a decade, resulting in over $21 billion of savings for Wisconsinites,” he said. “The budget surplus is another opportunity to implement tax reform in our state, and we will be looking at a variety of options to reduce the tax burden on hardworking taxpayers.”

—Arkansas: Republican Gov. Asa Hutchinson signed a bill in August 2022 that trimmed the state’s income tax rate to 4.9 percent, the lowest in state history, but eliminating it altogether was among initiatives incoming Republican Gov. Sara Huckabee Sanders campaigned on in winning her election in November.

Opportunity Arkansas Founder & CEO Nicholas Horton maintains it is possible to gradually eliminate the state’s income tax without devastating state revenues. 

“We are definitely on board and supportive of that idea,” he told The Epoch Times. “There is a lot of legislative interest” in doing so in 2023.

Horton said support for income tax reductions, if not elimination, has become “a litmus test over the last couple of election cycles. There is a lot of consensus that this is something that needs to happen. There is less consensus in how to get there.”

He said Opportunity Arkansas would release a plan in “how to get there” before state lawmakers convene Jan. 9 in Little Rock. The proposal will be prudent and ensure the state can pay its bills.

“We don’t want to end up being compared to the dog who chases the car and gets ahold of the wheel and it’s ‘what do we do now?’” he said.

Eliminating the income tax “is a really simple path. It’s not necessarily easy, but simple,” Horton said. “When you look at the state and federal money in the budget—a little over $32 billion a year—the state income tax only, and I say only in context of government spending, brings in $2.5 billion, less than 10 percent of what the state government spends. You start digging into the details, into where we spent money, where we get money” and doing away with the income tax is feasible.

The Arkansas State Flag and U.S. flag fly in front of the State Capitol in Little Rock on Dec. 1, 2022. (Janice Hisle/The Epoch Times)

One component of the state’s tax structure that should be examined by lawmakers is “special carveouts and exemptions for different groups and corporations—the state gives away about $1.2 billion a year” in exemptions, he said, adding, “Those figures are a few years old. Probably $2 billion now.”

Examples include not assessing sales taxes for the sale of chicks and newspapers. “That’s because somewhere in the past, (lawmakers decided) we shouldn’t tax the sale of baby chickens,” Horton said, saying the exemptions provide lawmakers with a “process of picking who pays and who doesn’t. We could almost pay for the entire state income tax just by getting rid of all state sales tax exemptions.”

By mid-December, no personal income tax bills had been pre-filed “that I have seen,” he said. “There are a lot of tax bills floating around,” however, that propose slashing other taxes, such as property taxes and sales taxes on groceries. 

“In the next couple of months, you’ll hear a lot of chatter. We are going to release our plan before the legislature convenes,” Horton said, noting there are “different camps and different schools of thought.”

Rep. Aaron Pilkington (R-Knoxville), who serves on the Legislative Joint Auditing Committee, said initiatives to “lower the tax burden” will be a featured topic in the 2023 session.

“We have a plan to phase out the income tax in Arkansas over the next 10 years,” Pilkington told The Epoch Times. “We are going to accelerate that,” with Saunders assuming the governorship in January.

—Colorado: Colorado voters in November approved Proposition 121, which trims the state’s flat income tax from 4.55 percent to 4.4 percent. The state’s income tax rate has gradually declined since the late 1980s when it was 5 percent. 

Denver-based Independence Institute and some Republican lawmakers want to eliminate the income tax altogether. The Independence Institute’s Path 2 Zero plan maintains that eliminating the state income tax would induce more productivity from earners now “penalized by an income tax.”

Democratic Gov. Jared Polis supports eliminating the personal income tax but counsels prudence in replacing “lost” income revenues.

Colorado Governor Jared Polis speaks about the American Rescue Plan Act on the one-year anniversary of the law during his visit to the Mi Casa Resource Center in Denver, Colo., on March 11, 2022. (Jason Connolly/Pool/Getty Images)

Independence Institute Fiscal Policy Center Director Ben Murrey told The Epoch Times that he doubts there will be any viable proposals to eliminate the state’s income tax in 2023. 

“We won’t be doing something like that this year” during the legislative session, and a ballot measure proposing such is unlikely for at least two years. “There could be a citizen initiative filed regarding the real estate transfer tax. I don’t know if that is going to go anywhere,” he said.

The Path 2 Zero plan would “eliminate the income tax entirely over time. Last year, a Republican bill that essentially adopted that plan,” but it went nowhere and is unlikely to find traction until 2024 or beyond after November’s elections.

“Democrats won everything that they could win” in the midterms, Murrey said. “Any (state legislature race) that was competitive, they won. They are one seat away from a supermajority in both chambers. The ‘red wave’ certainly didn’t materialize in Colorado, but we have a governor who supports eliminating the income tax based on his rhetoric. He could make an interesting ally for us” in the coming years.

end

USA ECONOMIC ISSUES// SUPPLY ISSUES//DERIVATIVES

ARIZONA/WATER

Arizona is learning from the Israelis who have built a billion dollar desalination plant in Hadera, Israel.  Now Israel will help Arizona built a plant in Mexico and pipe water to drought stricken Arizona.

(zerohedge)

Arizona Considers $5.5 Billion Water Desalination Plant, 200-Mile Pipeline From Mexico To Combat Drought

TUESDAY, DEC 27, 2022 – 06:20 PM

Arizona’s Water Infrastructure Finance Authority has been tasked with reviewing a proposal for a multibillion-dollar project to construct a water desalination plant in Mexico that would pump water through a 200-mile pipeline to the border state as part of an effort to counter its drought-driven water uncertainty. 

The Arizona Republic said the state water finance board recently passed a non-binding resolution supporting a potentially massive seawater desalination plant in Mexico’s Sea of Cortez that Israel-based desalination plant operator IDE Technologies would construct.

Through reverse osmosis membranes, the plant would separate salt from seawater and pump the fresh water through a pipeline across the Mexico-US border to a reservoir west of Phoenix. IDE said the new plant could replace declining Colorado River water that flows through the Central Arizona Project’s aqueduct. 

IDE claims the new plant could supply 300,000 acre-feet of water or enough for a million households. IDE aims to begin operations at the new plant by the second half of 2027.

The proposal still requires further review and support from the US and Mexico. 

Andy Tobin, a member of the water finance board and a former speaker in the Arizona House of Representatives, said, “folks are running out of water,” suggesting “the risk here clearly, in the case, outweighs the rush” to get this project underway to prevent a worsening water crisis. 

If Arizona commits to the project, residents in Maricopa, Pinal, and Pima counties would pay higher water costs but at least won’t have a fear of running out of water. 

The proposal also includes securing water for Mexico. The project could cost upwards of $5 billion to construct. Plans for a water desalination plant show the drought-stricken state quickly needs a solution to new water sources. 

end

The storm has created havoc for Southwest airlines. A leaked memo reveals a “state of operational emergency” exisited and this was before the Christmas storm

(zerohedge)

Leaked Southwest Memo Reveals “State Of Operational Emergency” Before Christmas Storm

WEDNESDAY, DEC 28, 2022 – 08:50 AM

After a winter storm and arctic blast pummeled the eastern half of the US, most major airline carriers were able to resolve delays and cancellations. But not Southwest Airlines, which days later still has a large number of flights canceled, stranding tens of thousands of Americans at airports nationwide. 

Bloomberg confirmed a leaked memo dated Dec. 21 via Chris Johnson, the carrier’s vice president of ground operations, who declared a “state of operational emergency” at Denver Airport after “an unusually high number” of employee absences. 

The severe winter weather battered Southwest’s operations nationwide, forcing the carrier to cancel thousands of flights during Christmas weekend. And the chaos continues. As of Wednesday morning, Southwest has scrapped 62% of flights today, plus 58% on Thursday, according to FlightAware data. 

Wednesday

Thursday

Analysts describe Southwest’s meltdown this week as the most significant operational breakdown in its five-decade history. 

“This is the worst round of cancellations for any single airline I can recall in a career of more than 20 years as an industry analyst,” Henry Harteveldt, who covers airlines for Atmosphere Research Group, told the NYTimes.

Southwest’s chief executive, Bob Jordan, apologized Tuesday evening for the operational mishap. He said, “Our plan for the next few days is to fly a reduced schedule and reposition our people and planes.” 

“We’re optimistic to be back on track before next week,” Jordan explained. 

Once Southwest normalizes operations, we assume Jordan will be bombarded with questions from lawmakers and US transportation officials about what went wrong

end. 

Another storm on the way as Southwest cancels another 2500 flights

(zerohedge)

Southwest Cancels Another 2,500 Flights As ‘Atmospheric River’ Pounds West Coast

WEDNESDAY, DEC 28, 2022 – 01:06 PM

Southwest Airlines canceled more than 2,500 flights on Wednesday. A leaked memo from the airline outlined a staffing crisis ahead of Christmas weekend, along with a powerful winter storm — all contributed to the worst operational mishap the airline has ever seen. Southwest has yet to recover as flight disruptions persist nationwide, despite all other carriers having normalized operations. Another weather event developing across the West Coast could further complicate air travel. 

A powerful winter storm caused by an atmospheric river battered parts of the West Coast on Tuesday, including Northern California, unleashing a variety of precipitation, including rain and snow and ice, as well as extreme winds and flooding in some areas. 

Last night, more than 190,000 homes and businesses in the Pacific Northwest were without power. The outage is now down to 80,000 as of late Wednesday morning, according to poweroutage.us.

This “series of Pacific storm systems will affect the western US with heavy rain, mountain snow, and strong winds into the weekend,” the National Weather Service wrote in an advisory on Monday. 

NWS’ Reno office warned of “widespread travel impacts” in the Sierra Nevada region, where winter storm warnings have been posted. 

Insane gusts have been recorded of 151 mph. 

The “deep and fast-moving storm system sweeping through the Intermountain West is forecast to continue producing moderate-to-locally heavy rain across the West Coast and parts of southern/central California through early this morning,” NWS wrote in a memo. 

NWS continued in the memo and said another storm is expected to hit the West Coast from Central California up to the Pacific Northwest on Thursday into the upcoming weekend. 

The Weather Channel meteorologist Chris Warren said some areas of the Pacific Northwest could see accumulating snow “measured in feet, five to six feet.” 

The continuation of adverse weather conditions in the US could complicate the flight situation even more. Currently, Southwest is in a crisis, but other carriers could see impacts that might stem from weather-related issues on the West Coast. 

Flying in the US this holiday season has been an utter nightmare for millions of travelers, some of whom are stuck at airports or had to cancel plans.

end

SWAMP STORIES

Kari Lake appeals Judge’s ruling to Arizona Supreme Court:

(Pearson/EpochTimes)

Kari Lake Appeals Judge’s Ruling On Arizona Election Lawsuit

WEDNESDAY, DEC 28, 2022 – 10:55 AM

Authored by Caden Pearson via The Epoch Times,

Arizona Republican gubernatorial candidate Kari Lake has filed an appeal against a Maricopa County judge’s ruling to dismiss her lawsuit challenging the midterm election results.

Lake filed a notice of appeal with the same Arizona Superior Court judge on Tuesday to challenge the dismissal of her case. Lake will also seek a direct review by the Arizona Supreme Court, according to a court filing.

Arizona Superior Court Judge Peter Thompson first ruled against Lake’s election case on Dec. 24, confirming the election of Katie Hobbs as Arizona governor-elect. He ordered Hobbs’s side to file a statement of costs and motion for sanctions before Dec. 26.

On Dec. 27, Thompson found that there wasn’t enough evidence of misconduct by Maricopa County to overturn election results in the county. His ruling came days after Lake filed her lawsuit and after Thompson allowed two of 10 election claims to go to a short two-day trial.

According to election data, Lake lost to Hobbs by about 17,000 votes. Lake filed a lawsuit against Hobbs in her capacity as the current secretary of state, Maricopa County election officials, and other officials several weeks after the midterms.

I am standing up for the people of this state, the people who were done wrong on Election Day, and the millions of people who live outside of Maricopa County, whose vote was watered down by this bogus election in Maricopa County,” Lake told Steve Bannon’s “War Room” podcast.

An election worker gathers tabulated ballots to be boxed inside the Maricopa County Recorders Office in Phoenix. Ariz., on Nov. 10, 2022. (Matt York/AP Photo)

Judge Denies Request to Sanction Lake

On Dec. 27, Thompson denied a request from Hobbs and Maricopa County to sanction Lake and her legal team over her lawsuit challenging the results of the 2022 general election.

The judge ruled that while Lake didn’t meet the burden of providing evidence of her election-related claims, her lawsuit didn’t meet the standard for imposing sanctions. However, he ruled that Lake must reimburse Hobbs $33,040 for some expenses because she didn’t win her case.

Maricopa County officials filed the motion against Lake and her legal team on Dec. 26. Hobbs joined the motion in her capacity as secretary of state.

“Enough really is enough. It is past time to end unfounded attacks on elections and unwarranted accusations against elections officials,” Maricopa County Deputy Attorney Thomas P. Liddy wrote on Dec. 26 in a 15-page memo asking Thompson for the sanctions and attorneys fees.

“This matter was brought without any legitimate justification, let alone a substantial one.”

Courts “should not be used to harass political opponents and sow completely unfounded doubts about the integrity of elections,” the memo also stated.

Voters drop their ballot in a dropbox in the U.S. midterm election at the Maricopa County Tabulation and Election Center in Phoenix, Ariz., on Nov. 8, 2022. (Olivier Touron/AFP via Getty Images)

Lawsuit

After Hobbs was declared the winner, Lake filed two lawsuits. One sought information and records from Maricopa County, and the other aimed to declare overturn the results or redo the election in Maricopa.

Among other claims, Lake cited a news conference held by top Maricopa County officials in which they confirmed printer problems across polling locations on Election Day that her team said disenfranchised voters.

Thompson allowed two out of ten of Lake’s claims to go to trial, including a claim about intentional interference with ballot printers and chain-of-custody problems.

A witness at the trial who inspected ballots on behalf of Lake’s attorneys said that 14 of 15 duplicate ballots he inspected had 19-inch images of the ballot printed on 20-inch paper, meaning the ballots wouldn’t be read by a tabulator. The witness testified that such a change would’ve required a change to printer configurations, although election officials disputed those assertions.

The judge credited Lake’s key witnesses, Mark Sonnenklar and Heather Honey, but rejected the claims that intentional misconduct happened during the midterm election.

Read more here…

THE KING REPORT

The King Report December 28, 2022 Issue 6916Independent View of the News
The usual suspects, already full of holiday cheer for the Santa Rally, got even more jiggy due to China’s reopening (yes, once again).  Unfortunately for the merrymen, they forgot that reopening China could be inflationary.  Mr. Bond reminded equity types of this unpleasant fact on Monday.
 
ESHs soared in Monday night trading but sank after the US bond market opened (8 ET).  USHs began their decline after Europe opened at 3 ET.  It took equity types a few hours to ‘get it.’
 
However, equity traders eschew fundamentals when there is a trading pattern to play – and the Santa Rally is a most popular seasonal trade.  So, the usual suspects eagerly bought the early NYSE dip.  A bottom appeared at 10:02 ET.  ESHs surged from the daily low of 3837.25 to 3871.25 at 10:21 ET.  After plodding to 3873.00 at 10:46 ET, ESHs and stocks rolled over.  When the afternoon appeared, the decline accelerated.  The decline ended when the pre-last hour rally began in its usual window.
 
The equity rally ended at 15:40 ET.  ESHs and stocks slid into the NYSE close.  USHs were -1 26/32.
 
Apple stock slumps toward lowest close in 18 months, worst yearly performance since 2008
https://www.marketwatch.com/story/apple-stock-slumps-toward-lowest-close-in-18-months-worst-yearly-performance-since-2008-01672167821
 
Tesla to run reduced output in Shanghai in January, plan shows – according to an internal schedule reviewed by Reuters.  Tesla will run production for 17 days in January between Jan. 3 to Jan. 19 and will stop electric vehicle output from Jan. 20 to Jan. 31 for an extended break for Chinese New Year, according to the plan seen by Reuters… (Tesla denied the report. TSLA sank 11.41%.)
https://www.reuters.com/business/autos-transportation/tesla-run-reduced-output-shanghai-january-plan-shows-2022-12-27/
 
Used Tesla prices drop nearly 20% as flippers can’t find buyers https://t.co/dxLwZPgUQ0
 
Positive aspects of previous session
The DJIA rallied 37.63; and the DJUA posted a 6.79-point gain
 
Negative aspects of previous session
Bonds tanked possibly on the $1.7T omnibus bill; and there is no seasonal Santa Rally for bonds
Fangs got hammered, led by Tesla and Nvidia, which forced Nasdaq to a -1.38% decline
 
Ambiguous aspects of previous session
Will the $1.7 trillion omnibus bill generate unexpected inflation in 2023?
 
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE open: Down; Last Hour: Down
 
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 3829.70
Previous session High/Low3846.65; 3813.22
 
German spy suspected of leaking Ukraine war secrets to Moscow
The agent, who worked for Germany’s foreign intelligence service, the BND, is believed to have had access to secret information about the Ukraine war from Britain’s GCHQ spy agency and the US’s National Security Agency.  The alleged double agent, identified only as Carsten L in accordance with Germany privacy regulations, was arrested on suspicion of treason in Berlin last Wednesday, and remanded in custody after appearing before a judge…
https://www.smh.com.au/world/europe/german-spy-suspected-of-leaking-ukraine-war-secrets-to-moscow-20221227-p5c8vy.html
 
@elonmusk: Most people don’t appreciate the significance of the point Matt was making: *Every* social media company is engaged in heavy censorship, with significant involvement of and, at times, explicit direction of the government. Google frequently makes links disappear, for example.
 
@NameRedacted247: 1. Google currently employs at least 165 people, in high-ranking positions, from the Intelligence Community. Google’s Trust & Safety team is managed by 3 ex-CIA agents, who control “misinfo & hate speech.” Here’s the breakdown: CIA-27, FBI-52, NSA-30, DHS-50, ODNI-6.  2. Since the 2016 Presidential election, Google/Facebook/Twitter have hired at least 300+ people formerly employed by CIA, FBI, etc.  Ex-CIA agents are Heads of Trust & Safety at Google & Facebook. Is it OK that ex-CIA agents control what “misinfo” is?… (Much more at link)
https://twitter.com/NameRedacted247/status/1607539875712217089
 
@Bank_of_Japan_: Summary of Opinions at the Monetary Policy Meeting on December 19 and 20, 2022 – Inflation in prices of not only goods but also services has gradually risen, and the trimmed
mean and weighted median of the year-on-year rate of change in the CPI have seen a further
rise. This suggests a possibility that the momentum of inflation has started to strengthen
   The Bank should continue with Quantitative and Qualitative Monetary Easing (QQE) with
Yield Curve Control, aiming to achieve the price stability target, as long as it is necessary for
maintaining that target in a stable manner… The expansion of the range of 10-year JGB yield fluctuations from the target level is not intended to change the direction of monetary easing. It is a policy measure to make the current monetary easing — which is conducted with the aim of achieving the price stability target of 2 percent — more sustainable amid global inflation through improvement in the
functioning of bond market… (BS – the BoJ is trying to save the yen!) http://twme.jp/boj/055H
 
WSJ: Russia Bans Sales of Oil to Countries Imposing Price Cap – Action follows G-7 moves barring Western companies from insuring, financing, or shipping Russian crude at prices above $60 a barrel
https://www.wsj.com/articles/kremlin-bans-sales-of-russian-oil-to-countries-that-impose-price-cap-11672161766
 
Today – An ugly bond market on Tuesday, inhibited the Santa Rally.  But beaucoup traders are long for the Santa Rally; so, the usual suspects will try to force ESHs and stocks higher today.  Will Mr. Bond facilitate the Santa Rally or Mr. Bond go ‘bah humbug?’  As some point, the decline in bonds will force defensive asset allocators to buy bonds and sell stocks. 
 
ESHs are -3.50 and USHs are +8/32 at 20:10 ET.  Are defensive asset allocators in the market?
 
Expected economic data: Dec Richmond Fed Mfg. Index -10; Nov Pending Home Sales -1.0%
 
S&P 500 Index 50-day MA: 3891; 100-day MA: 3912; 150-day MA: 3921; 200-day MA: 4015
DJIA 50-day MA: 33,020; 100-day MA: 32,198; 150-day MA: 32,030; 200-day MA: 32,455
 
S&P 500 Index – Trender trading model and MACD for key time frames
MonthlyTrender and MACD are negative – a close above 4529.70 triggers a buy signal
WeeklyTrender and MACD are positive – a close below 3730.35 triggers a sell signal
DailyTrender and MACD are negative – a close above 3948.30 triggers a buy signal
Hourly: Trender and MACD are negative – a close above 3850.62 triggers a buy signal
 
Biden has granted only seven formal sit-down interviews with journalists in 2022
Joe and Jill Biden’s most recent interview was with Drew Barrymore… “We’ve never seen a more packaged, homogenized, protected president than Joe Biden,” Fox News contributor and media analyst Joe Concha said. “His handlers are petrified of him sitting down for anything resembling a challenging interview.”… (No print journalist interviews since taking office! We all know why!)
https://www.foxnews.com/media/biden-granted-seven-formal-sit-down-interviews-journalists-2022
 
Biden Heads for Another Vacation as Title 42 Disaster Looms  https://t.co/f3a9a4ffu7
 
Turley: When the FBI Attacks Critics as “Conspiracy Theorists,” It’s Time to Reform the Bureau
Below is my column in the Hill on the need for a new “Church Committee” to investigate and reform the Federal Bureau of Investigation (FBI) after years of scandals involving alleged political bias. In response to criticism over its role in Twitter’s censorship system, the FBI lashed out against critics as “conspiracy theorists” spreading disinformation. However, it still refuses to supply new information on other companies, beyond Twitter, that it has paid to engage in censorship…
   It is not clear what is more chilling — the menacing role played by the FBI in Twitter’s censorship program, or its mendacious response to the disclosure of that role. The FBI has issued a series of “nothing-to-see-here” statements regarding the Twitter Files…
   After Watergate, there was bipartisan support for reforming the FBI and intelligence agencies. Today, that cacophony of voices has been replaced by crickets, as much of the media imposes another effective blackout on coverage of the Twitter Files. This media silence suggests that the FBI found the “sweet spot” on censorship, supporting the views of the political and media establishment.
   As for the rest of us, the FBI now declares us to be part of a disinformation danger which it is committed to stamping out — “conspiracy theorists” misleading the public simply by criticizing the bureau.  Clearly, this is the time for a new Church Committee — and time to reform the FBI.
https://jonathanturley.org/2022/12/26/when-the-fbi-attacks-critics-as-conspiracy-theorists-its-time-to-reform-the-bureau/
 
Jan. 6 Committee Democrat slammed for calling Electoral College a ‘danger’ to Americans
Rep. Jamie Raskin, D-Md., added there was room for ‘a lot of strategic mischief’ with the constitutional process  https://justthenews.com/government/courts-law/supreme-court-orders-title-42-remain-place
 
Translation of Democratic talking points: Threat to Democracy = threat to Democrats; Danger to Americans = danger to Democrats, as in losing two presidential elections via the Electoral College
 
Supreme Court orders Title 42 remain in place, pending arguments
Title 42 is an order allowing border authorities to swiftly deport migrants if they hail from a country known to host a communicable disease such as COVID-19.
https://justthenews.com/government/courts-law/supreme-court-orders-title-42-remain-place
 
A startup says it’s begun releasing particles into the atmosphere, in an effort to tweak the climate
Make Sunsets is already attempting to earn revenue for geoengineering, a move likely to provoke widespread criticism. (What could possibly go wrong?)  https://t.co/EBhb8J6j36
 
@CWBChicago: A 4-time felon on bail for a drug case allegedly tried to rape and kill a woman who rented a room from him. He is the 53rd person accused of killing or shooting—or trying to kill or shoot—someone in Chicago while awaiting trial for a felony in 2022.  https://t.co/9BD9RlTHWa

GREG HUNTER REPORT//INTERVIEWING  

I will see you tomorrow

H