Jan 12 · by harveyorgan · in Uncategorized · Leave a comment·Edit

GOLD PRICE CLOSED: UP $20.55 at $1895,70

SILVER PRICE CLOSED: UP $0.44 to $23.81

Access prices: closes : 4: 15 PM

Gold ACCESS CLOSE 1872.80

Silver ACCESS CLOSE: 23.67

Bitcoin morning price:, 18863 up 972 DOLLARS

Bitcoin: afternoon price: $18863 UP 972 dollars

Platinum price closing $1072.95 DOWN $1.10

Palladium price; closing 1794.00 UP $12.95

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: $2534.56 UP $14.239 CDN dollars per oz

BRITISH GOLD: 1553.37 UP 9.62 pounds per oz

EURO GOLD: 1748,50 UP 4.93 euros per oz

EXCHANGE: COMEX

CONTRACT: JANUARY 2023 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,874.600000000 USD
INTENT DATE: 01/11/2023 DELIVERY DATE: 01/13/2023
FIRM ORG FIRM NAME ISSUED STOPPED

118 C MACQUARIE FUT 1
435 H SCOTIA CAPITAL 571
661 C JP MORGAN 565 2
685 C RJ OBRIEN 1
737 C ADVANTAGE 12 13
880 H CITIGROUP 1123
905 C ADM 10

TOTAL: 1,149 1,149

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GOLD: NUMBER OF NOTICES FILED FOR JAN/2023. CONTRACT: 1149 NOTICES FOR 114900 OZ or 3.5728 TONNES

total notices so far: 2049 contracts for 202,900 oz (6.3110 tonnes)

SILVER NOTICES: 4 NOTICE(S) FILED FOR 20,000 OZ/

total number of notices filed so far this month 820 for 4,100,000 oz

END

GLD

WITH GOLD UP $20.55

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD//HUGE CHANGES IN GOLD INVENTORY AT THE GLD: STRANGE A WITHDRAWAL OF OF 1.74 TONNES FROM THE GLD//

INVENTORY RESTS AT 912.43 TONNES

Silver//SLV

WITH NO SILVER AROUND AND SILVER UP 44 CENTS

AT THE SLV// :/NO CHANGES IN SILVER INVENTORY AT THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

CLOSING INVENTORY: 508.700 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 HUGE SIZED 674 CONTRACTS TO 129,287 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THE GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR $0.17 LOSS IN SILVER PRICING AT THE COMEX ON TUESDAY. FOR THE PAST WEEK, OUR BANKERS HAVE RETURNED TO BEING NET SHORT AND THUS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.17 AND WERE SUCCESSFUL IN KNOCKING SOME SPEC LONGS, AS WE HAD A VERY STRONG LOSS ON OUR TWO EXCHANGES OF 2706 CONTRACTS. AS WELL WE HAD A 1.25 MILLION OZ OF AN EXCHANGE FOR RISK TRANSFER ( 125 CONTRACTS). WE HAVE FINISHED WITH OUR SPEC SHORTS AS THEY COVERED WITH THE RISE IN PRICE . WE HAVE NOW RETURNED TO OUR USUAL AND CUSTOMARY: BANKERS SHORT AND SPECS LONG SCENARIO.AND AS USUAL OUR SPECS GOT BEATEN UP AGAIN.

WE MUST HAVE HAD:
A SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 4,055. MILLION OZ FOLLOWED BY TODAY’S QUEUE. JUMP OF 5,000 OZ//NEW STANDING 4.170 MILLION OZ + 3.75 MILLION OF EXCHANGE FOR RISK// V) STRONG SIZED COMEX OI LOSS/ STRONG EFP ISSUANCE/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL –76

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

TOTAL CONTRACTS for 8 days, total 4108 contracts: OR 20.540 MILLION OZ PER DAY. (514 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 20.54 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, 61.395 MILLION OZ FINAL

JAN 2023/// 30.54 MILLION OZ

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2932 WITH OUR $0.21 LOSS IN SILVER PRICING AT THE COMEX// TUESDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE CONTRACTS: 150 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 JAN OF 4.055 MILLION OZ FOLLOWED BY TODAY’S E.F.P. JUMP OF 5,000 / //NEW STANDING DECREASES TO 4.170 MILLION OZ + EFR 2.5 MILLION = 6.670 MILLION OZ. .. WE HAVE A HUGE SIZED LOSS OF 2782 OI CONTRACTS ON THE TWO EXCHANGES FOR 13.91 MILLION OZ.. THE SILVER SHORTS HAVE BEEN HURT BADLY WITH SILVER’S RISE LATELY.

WE HAD 4 NOTICE(S) FILED TODAY FOR 20,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A FAIR SIZED 3473 CONTRACTS TO 484,992 AND CLOSER TO 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 654 CONTRACTS.

THE FAIR SIZED INCREASE IN COMEX OI (3473 CONTRACTS) CAME WITH OUR $1.20 GAIN IN PRICE. WE ALSO HAD A SMALL INITIAL STANDING IN GOLD TONNAGE FOR JAN. AT 2.1710 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 979 CONTRACTS OR 97,900 OZ //(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 6.5950 TONNES

YET ALL OF..THIS HAPPENED WITH OUR $1.20 GAIN IN PRICE WITH RESPECT TO TUESDAY’S TRADING

WE HAD A STRONG SIZED GAIN OF 7251OI CONTRACTS (22.55 PAPER TONNES) ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 3124 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 484,992

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 6597 CONTRACTS WITH 3473 CONTRACTS INCREASED AT THE COMEX AND 3124 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 6597 CONTRACTS OR 20.52 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3124 CONTRACTS) ACCOMPANYING THE FAIR SIZED GAIN IN COMEX OI (3124) TOTAL GAIN IN THE TWO EXCHANGES 6597 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR NORMAL FORMAT OF BANKERS GOING SHORT AND SPECULATORS GOING LONG ,2.) SMALL INITIAL STANDING AT THE GOLD COMEX FOR JAN. AT 2.1710 TONNES FOLLOWED BY TODAY’S QUEUE JUMP OF 97900 OZ /NEW STANDING 6.5902 TONNES///3) ZERO LONG LIQUIDATION //4) FAIR SIZED COMEX OPEN INTEREST GAIN 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER/

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023 INCLUDING TODAY

JAN

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

21,671 CONTRACTS OR 2,167,100 OZ OR 67.405 TONNES 8 TRADING DAY(S) AND THUS AVERAGING: 2708 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 7 TRADING DAY(S) IN TONNES:67.405 TONNES

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

THUS EFP TRANSFERS REPRESENTS 67.405/3550 x 100% TONNES 1,88% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

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

MARCH:. 276.50 TONNES (STRONG AGAIN/

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

MAY: 250.15 TONNES (NOW DRAMATICALLY INCREASING AGAIN)

JUNE: 247.54 TONNES (FINAL)

JULY: 188.73 TONNES FINAL

AUGUST: 217.89 TONNES FINAL ISSUANCE.

SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

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

DEC. 175.62 TONNES//FINAL ISSUANCE//

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: 185.59 tonnes // FINAL

JAN 2023: 67.405 TONNES INITIAL

SPREADING OPERATIONS

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

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

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

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 STRONG SIZED 674 CONTRACTS OI TO 129,287 AND FURTHER FROM 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 825 CONTRACTS

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

MAR 150 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 150 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 674 CONTRACTS AND ADD TO THE 825 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A SMALL LOSS OF 151 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES.

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 0.755 MILLION OZ//

OCCURRED DESPITE OUR 21 CENT LOSS 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//CORN

7/CRYPTOCURRENCIES/BITCOIN ETC

3. ASIAN AFFAIRS

i)THURSDAY MORNING//WEDNESDAY NIGHT

SHANGHAI CLOSED UP 1.61 PTS OR0.05% //Hang Seng CLOSED UP 78.05 PTS OR 0.36% /The Nikkei closed UP 3.82 PTS OR 0.01% //Australia’s all ordinaries CLOSED UP 1.13% /Chinese yuan (ONSHORE) closed UP TO 6.7501//OFFSHORE CHINESE YUAN UP TO 6.7553// /Oil UP TO 78.50 dollars per barrel for WTI and BRENT AT 83.54 / Stocks in Europe OPENED ALL GREEN ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER

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 ROSE BY A FAIR SIZED 3473 CONTRACTS UP TO 484,982 WITH OUR GAIN IN PRICE OF $1.20

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE NON-ACTIVE DELIVERY MONTH OF JAN… 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 3124 EFP CONTRACTS WERE ISSUED: ;: , . 0 FEB: 3124 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3124 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 GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 6577 CONTRACTS IN THAT3124 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A FAIR SIZED COMEX OI GAIN OF 3473 CONTRACTS..AND THIS STRONG SIZED GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $1.20. WE ARE NOW WITNESSING THE BANKERS GOING NET SHORT AND THE SPECS GOING NET LONG AS THEIR FOLLY INTO SHORTING HAS ENDED.

// WE HAVE A SMALL AMOUNT OF GOLD TONNAGE STANDING Jan (6.5902)

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. 64.541 tonnes

JAN/2023: 6.5902 tonnes

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE $1.20) //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A STRONG GAIN OF 6591 CONTRACTS ON OUR TWO EXCHANGES // WE HAVE GAINED A TOTAL OI OF 22.52 PAPER TONNES OF TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR JAN. (2.1710 TONNES) FOLLOWED BY TODAY’S QUEUE JUMP OF 97900 oz OR .304 TONNES…THIS WAS ACCOMPLISHED WITH OUR RISE IN PRICE TO THE TUNE OF $1.20.

WE HAD – 654 CONTRACTS COMEX TRADES REMOVED FROM OPEN INTEREST AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES 6597 CONTRACTS OR 659700 OZ OR 20.52 TONNES

Estimated gold comex today 311,732// good//

final gold volumes/yesterday 301,941///good

INITIAL STANDINGS FOR JAN 2023 COMEX GOLD //JAN 12//

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	64.302 oz BRINKS 2 KILOBARS .
Deposit to the Dealer* Inventory in oz*	96.453 oz Brinks 3 kilobars oz
Deposits to the Customer* Inventory, in oz*	4259.673 oz Manfra
No of oz served (contracts) today	1240 notice(s) 124,000 OZ 3.8569 TONNES
No of oz to be served (notices)	91 contracts 9100 oz 0.2830 TONNES
Total monthly oz gold served (contracts) so far this month	2029 notices 202900 6.3110 TONNES
Total accumulative withdrawals of gold from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of gold from the Customer* inventory this month*	xxx oz

i)Dealer deposits: 1

Brinks 96.53 oz

3 kilobars

total dealer deposit: 96.453 oz

No dealer withdrawals

Customer deposits: 1

i)Into Manfra 4259.673 oz

total deposits: 4259.673 oz

customer withdrawals: 1

Brinks 64.302 oz 92 kilobars

Total withdrawals: 64.302 oz

total in tonnes: 0.00199 tonnes

Adjustments:3 all dealer to customer

i) Out of Brinks 22,955.814 oz

ii) Out of Loomis: 1639.701 oz

iii) Out of Malca 55,846.287 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JANUARY.

For the front month of JANUARY we have an oi of 1240 contracts having GAINED 1101 contracts

We had 122 notices served on Wednesday, so we gained 1223 contracts or an additional 122300 oz will stand for delivery in this

very non active delivery month of January. (queue jump)

February lost 28,972 contacts to 293,793

March gained 41 contracts to stand at 711.

April gained 26,850 contracts up to 144,416.

We had 1149 notice(s) filed today for 12200 oz

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 565 notices were issued from their client or customer account. The total of all issuance by all participants equate to 1149 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 1 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 JAN. /2022. contract month,

we take the total number of notices filed so far for the month (2049 x 100 oz , to which we add the difference between the open interest for the front month of (JAN.1240 CONTRACTS) minus the number of notices served upon today 1149 x 100 oz per contract equals 212400 OZ OR 6.5902 TONNES the number of TONNES standing in this non active month of January.

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

No of notices filed so far (2049 x 100 oz+ (1240 OI for the front month minus the number of notices served upon today (1149} x 100 oz} which equals 212,400 oz standing OR 6.5902 TONNES in this NON active delivery month of JAN..

TOTAL COMEX GOLD STANDING: 2.7402 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: 1,970,762.034 OZ 61.298 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 23,000796.808 OZ

TOTAL REGISTERED GOLD:11,091,152.294 OZ (344,98 tonnes)..dropping fast

TOTAL OF ALL ELIGIBLE GOLD: 11,909,644.514 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 9,120390 OZ (REG GOLD- PLEDGED GOLD) 283,68 tonnes//rapidly declining

END

SILVER/COMEX

JAN 12/2023//INITIAL JAN. SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	2,023,468.505 oz CNT Brinks HSBC
Deposits to the Dealer* Inventory*	nil OZ
Deposits to the Customer Inventory	nil
No of oz served today (contracts)	4 CONTRACT(S) (20,000 OZ)
No of oz to be served (notices)	14 contracts (70,000 oz)
Total monthly oz silver served (contracts)	820 contracts (4,100,000 oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

i) 0 dealer deposit

total dealer deposits: nil oz

i) We had 0 dealer withdrawal

total dealer withdrawals: oz

We have 0 deposits into the customer account

Total deposits: nil oz

JPMorgan has a total silver weight: 152.578 million oz/296.131 million =51.52% of comex .//dropping fast

Comex withdrawals: 3

i) Out of CNT: 644,782,905 oz

ii) Out of Brinks 477,771.590 oz

iii) Out of HSBC: 900,914.010 oz

Total withdrawals; 2,033,468.505 oz

adjustments: 0

total adjustment dealer to customer: 0

the silver comex is in stress!

TOTAL REGISTERED SILVER: 33.195 MILLION OZ (declining rapidly).TOTAL REG + ELIG. 296,131 MILLION OZ

CALCULATION OF SILVER OZ STANDING FOR JAN

silver open interest data:

FRONT MONTH OF JAN/2023 OI: 18 CONTRACTS HAVING LOST 0 CONTRACT(S.). WE HAD 1 NOTICES

FILED ON WEDNESDAY SO WE LOST 0 CONTRACT(S) OR 5,000 OZ QUEUE JUMP BY THE BANKERS TO OBTAIN SOME SILVER OVER THERE.

FEB> LOST 28 CONTRACTS TO 203 CONTRACTS

March LOST 1355 CONTRACTS DOWN TO 109,382 contracts

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 4 for 20,000 oz

Comex volumes// est. volume today 72,580//good

Comex volume: confirmed yesterday: 60,632 contracts ( fair)

To calculate the number of silver ounces that will stand for delivery in JANUARY. we take the total number of notices filed for the month so far at 820 x 5,000 oz = 4,100,000 oz

to which we add the difference between the open interest for the front month of JAN(18) and the number of notices served upon today 4 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the JAN./2023 contract month: 820 (notices served so far) x 5000 oz + OI for the front month of JAN (18 – number of notices served upon today (4) x 500 oz of silver standing for the JAN. contract month equates 4.170 million oz + 2.5 MILLION OZ OF EXCHANGE FOR RISK

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:57,337// est. volume today// good

Comex volume: confirmed yesterday: 45,745 contracts ( fair)

END

GLD AND SLV INVENTORY LEVELS

JAN 12/WITH GOLD UP $20.55 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.74 TONNES FROM THE GLD///INVENTORY RESTS AT 912.43 TONNES

JAN 11/WITH GOLD UP $1.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 914.17 TONNES

JAN 10/WITH GOLD UP $1.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD///INVENTORY RESTS AT 915.33 TONNES

JAN 9/WITH GOLD UP $ 8.60 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.44 TONNES FROM THE GLD//.//INVENTORY RESTS AT 915.33 TONNES

JAN 6/WITH GOLD UP $28.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 916.77 TONNES

JAN 5/WITH GOLD DOWN $17.05 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .87 TONNES FORM THE GLD////INVENTORY RESTS AT 916.77 TONNES

JANUARY 4/WITH GOLD UP $32.40 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 917.64 TONNES

JAN 3/WITH GOLD UP $20.00 TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD:STRANGE: A WITHDRAWAL OF .87 TONNES FORM THE GLD////INVENTORY RESTS AT 917.64 TONNES

DEC 30/WITH GOLD UP $.80 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 918.51 TONNES

DEC 29//WITH GOLD UP $8.35 TODAY:; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 918.51 TONNES

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: 912.43 TONNES

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

JAN 12/WITH SILVER UP 44 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 508.700 MILLION OZ/

JAN 11/WITH SILVER DOWN 17 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 508.700MILLION OZ

JAN 10/WITH SILVER DOWN 21 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 509.65 MILLION OZ

JAN 9/WITH SILVER DOWN 9 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 509.65 MILLION OZ//

JAN 6/WITH SILVER UP 54 CENTS TODAY;BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.20 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 509.65 MILLION OZ//

JAN 5/WITH SILVER DOWN 50 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.10 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 505.45 MILLION OZ//

JAN 4/WITH SILVER DOWN 26 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.3 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 506.55 MILLION OZ/

JAN 3/WITH SILVER UP 24 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: STRANGE: A WITHDRAWAL OF 1.2 MILLION OZ FROM THE SLV//////INVENTORY RESTS AT 507.85 MILLION OZ/

DEC 30/WITH SILVER DOWN 21 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 509.050 MILLION OZ

DEC 29/ WITH SILVER UP $0.63 TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 509.050 MILLION OZ

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 508.799 MILLION OZ//

PHYSICAL GOLD/SILVER STORIES

1:Peter Schiff

Schiff: Is “Cooling” CPI Setting The Stage For More Inflation?

THURSDAY, JAN 12, 2023 – 12:00 PM

Via SchiffGold.com,

Based on the headline numbers, price inflation cooled again in December, boosting market optimism that the Federal Reserve will continue to ease off the pedal on its monetary tightening. But this could be setting the stage for more price inflation down the road.

And a deeper look at the data reveals that a lot of inflationary pressure remains despite the optimistic headlines.

JAN 12//A RAPIDLY DECLINING CPI SENDS GOLD/SILVER MUCH HIGHER!//GOLD CLOSED UP .55 TO 95.75//SILVER FINALLY HAD A GOOD DAY UP $.44 TO .81//PLATINUM WAS DOWN .10 TO 74.05//PALLADIUM WAS UP .95 TO 94.00//USA CPI UP A TAME 6.5% Y/Y//COVID UPDATES: DR PAUL ALEXANDER/ (DR FRAINMAN A VERY IMPORTANT READ//)/PFIZER STILL HAS NOT FILED ITS ADVERSE REPORT ON MYOCARDITIS WHICH AS DUE DEC 31/2022//VACCINE INJURY REPORT/VACCINE IMPACT///SLAY NEWS//UKRAINE VS RUSSIA REPORT//A GOOD ANALYSIS OF ITALY VS BRUSSELS //BLACKROCK TO LAYOFF 500 MORE EMPLOYEES//USA’S LARGEST PORT HAS BEEN EXTREMELY QUIET AS GOODS ARE JUST NOT COMING IN///DIRECT TV LAYING OFF HUNDREDS OF EMPLOYEES DUE TO POOR PERFORMANCE AT THE PAY TV SECTION///MERRICK GARLAND APPOINTS A SPECIAL PROSECUTOR REGARDING THE HANDLING OF CLASSIFIED DOCUMENTS RE BIDEN//SWAMP STORIES FOR YOU TONIGHT//

The Consumer Price Index (CPI) came in at 6.5%, down from 7.1% in November, according to the latest data from the Bureau of Labor Statistics. That was right on the consensus projection.

On a monthly basis, CPI ticked down -0.1%. The consensus was for monthly CPI to be unchanged.

If you take the headline numbers in isolation, it appears that price inflation has cooled off, but digging deeper into the data reveals that falling energy prices papered over the fact that most other prices continued their relentless climb.

Core CPI — excluding more volatile food and energy prices was up 0.3% month-on-month. That was a bigger increase than November’s 0.2% rise. On an annual basis, Core CPI was 5.7%, down from 6% in November.

Keep in mind, inflation is worse than the government data suggest. This CPI uses a formula that understates the actual rise in prices. Based on the formula used in the 1970s, CPI is closer to double the official numbers.

A Deeper Look at the Data

Falling gasoline and energy prices were the biggest contributor to the overall decline in prices and skewed the overall numbers lower. Most other categories continued to chart price increases last month.

The energy price index plunged by -4.5% on a monthly basis with gasoline prices down -9.4% and fuel oil cratering by -16.6%.

But food prices continue to climb relentlessly. Overall, food prices rose by another 0.3% on a monthly basis. Year on year, food prices have risen by 10.4% according to the BLS data.

Shelter costs were up another 0.8% month on month.

Peter Schiff summed up the CPI data in a tweet.

Market Perception

Nevertheless, the markets view this as a sign that inflation is cooling and it is buoying hope that the Federal Reserve will further slow monetary tightening.

Stock futures were already rallying ahead of the CPI data release. In the 30 minutes after the data came out, gold rallied and briefly pushed through the $1,900 an ounce level.

Before the data came out, Reuters reported that the CPI would “have a big impact on markets by shaping expectations of the speed of interest rate hikes in the world’s biggest economy. Markets have priced better-than-even odds that the Federal Reserve raises rates by 25 basis points, rather than 50, at February’s meeting.”

But the markets seem to be missing the fact that any slowdown in Federal Reserve monetary tightening will almost certainly set the stage for bigger price increases down the road. Simply put, an end to the war on inflation means more price inflation.

And as Schiff pointed out, inflation is far from beaten. CPI remains more than three times the Fed’s 2% target.

Nevertheless, the narrative is that inflation has peaked. As Peter Schiff explained in a podcast, most people are still clueless about what is going on. This lull in rising prices is likely temporary.

That is the really important point that seems to be lost on everybody. What investors are trying to figure out is ‘has inflation peaked?’ Have we seen peak inflation? Now, I think the answer to that question is no. I don’t think inflation has peaked. Now, it may have peaked for a short period of time. It may take until the second half of 2023 before we get a year-over-year rate of inflation that was higher than the high water mark for 2022. Who knows? Maybe it will take into 2024. But the one thing that I’m certain of is that we’re not going anywhere near 2%. And that is what investors still don’t understand — that the days of low inflation are over, and we’re living in an era of high inflation. That is a complete game-changer for the Fed and the Fed has yet to come to terms with this new reality, nor has the market.”

How Will the Fed Play It?

Absent a crisis in the economy, the Fed will likely keep pressing its war on inflation. But when the central bank does go back to rate cuts and ends balance sheet reduction, that means a return to accommodative monetary policy and money creation. Money creation is inflation. Price inflation is a symptom of monetary inflation. In effect, the markets are begging for a return to inflation because they think the Fed has beaten inflation.

It is reasonable to think that the CPI will continue to cool in the next several months. The math works in its favor. We have big month-on-month increases from 2021 rolling out of the annual average. That pushes the yearly increase lower. Meanwhile, the economy is slowing. Make no mistake, high interest rates are subduing economic activity. An economy built on easy money and credit can’t function in this high interest rate environment.

Two things need to happen in order to beat inflation. We need positive real interest rates — an interest rate above the CPI. And we also need the US government to cut spending and stop running huge budget deficits. A Fed paper admitted that it can’t tame inflation with monetary policy alone, saying, “When the fiscal authority [the federal government] is not perceived as fully responsible for covering the existing fiscal imbalances, the private sector expects that inflation will rise to ensure sustainability of national debt.”

Neither of these things will likely happen. That means the Fed can’t possibly win this war. It might be able to brag about “progress,” but it is doomed to fail.

Meanwhile, the bigger problem is that while this “high” interest rate environment isn’t high enough to truly tame inflation, it is high enough to break something in the economy. When that happens, the Fed’s back will really be up against the wall. It will have to choose between a deep, long recession or high inflation.

I think it’s just a matter of time before something breaks in this debt-riddled, bubble economy. When that happens, the Fed will likely shift from a soft pivot to a hard pivot. To use a favorite Fed term, any cooling of the CPI is likely to be “transitory.

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//

end

4. Other gold/silver commentaries

This is a good read from Jan

(Jan Nieuwenhuijs)

Zoltan Pozsar, The Four Prices Of Money, And The Coming Gold Bull Market

THURSDAY, JAN 12, 2023 – 01:20 PM

by Jan Nieuwenhuijs of Gainesville Coins

Over the past 100 years there has been a correlation between major equity bear markets, adjustments in one of the four “prices of money,” and gold bull markets. If we let history be our guide, the current equity bear market is signaling a new gold bull market, supported by changes in the price of money.

With equities in a bear market, and the Fed adjusting the price of money, we can expect a gold bull market in the coming years.

One of the more intriguing financial analysts of our times is Zoltan Pozsar, Managing Director and Global Head of Short-Term Interest Rate Strategy at Credit Suisse. In his writings of the past months, one of the things that caught my attention was his framework for multiple prices of money. Remarkably, when I looked up big historical changes in the price of the US dollar, they usually succeeded equity bear markets and introduced gold bull markets. Because equities are in a bear market as we speak, we can expect a gold bull market in the years ahead, enabled by the Federal Reserve changing the price of money.

First, let’s see how changes in the price of the dollar have caused gold bull markets in the past 100 years. Then we will add the stock market.

The Four Prices of Money and Previous Gold Bull Markets

Pozsar’s money framework, which he got from his intellectual mentor Perry Mehrling, states money has four prices:

Par, which is the price of different types of the same money. Cash, bank deposits, and money fund shares should always trade at a one-to-one ratio.
Interest rates, which is the price of future money.
Foreign exchange rates, which is the price of foreign money. For example, the ratio between the dollar and the euro.
Price level, which is the price of commodities and, via commodities, the price of all goods and services. This is usually referred to as inflation.

In the 1920s, credit expansion created an economic boom. When the inevitable bust followed the US entered a severe depression. Eventually, in 1933, the US government decided to internally discontinue the gold standard. Externally the dollar continued to be fixed to gold, but the peg was lowered form 0.048 troy ounces per dollar to 0.029 ounces. Strictly speaking this wasn’t a gold bull market, but the gold price did go up from $20.67 to $35 dollars per troy ounce. The dollar was devalued against gold to get even with countries that devalued before the US did and to cheapen the dollar against foreign currencies that weren’t devalued yet. The price of gold in dollars went up because of the third price of money: foreign exchange rates.

In the 1960s the US started printing too many dollars relative to the amount of gold it owned backing those dollars. The gold price of $35 dollars was under pressure and the US Treasury had to sell thousands of tonnes of gold to defend the peg. To stop the bleeding, it was decided to let the gold price float in the free market in 1968. Though only marginally at first, the dollar price of gold went up because of the first price of money: par.

Foreign central banks could still redeem dollars for gold at the US Treasury after 1968 (at the statutory price, not the free market price), depleting reserves. Finally, President Nixon suspended dollar convertibility in 1971, and so removed the last check on unbridled monetary expansion. An abundance of dollars created in the 1960s and 1970s led to double-digit consumer price inflation. The gold price skyrocketed to a peak of $800 dollars in 1980. The dollar price of gold in the 1970s went up because of the fourth price of money: price level.

In 1998, under the guidance of several Nobel prize-winning economists, an American hedge fund blew up. The Federal Reserve reacted by lowering interest rates, further fueling a stock boom. The dot-com bubble popped in 2000 and the Fed slashed rates from 6% to 1%. The gold price started rising again and reached $1,900 dollars per troy ounce in 2011. As inflation was rather stable from 2000 through 2011, the gold price mainly went up because of the second price of money: interest rates.

Note, other events around 2000 influenced gold’s rise as well: the dollar went down, the stock market crashed, the Central Bank Gold Agreement was signed, central banks curbed gold lending, etc.

Stock Market Bubbles and the Cheapening of Money

Changes in the price of money often come after an economic downturn that a central bank counters by, for example, lowering interest rates. Easy money blows a new equity bubble. Once that pops, easier money still blows another bubble to replace the previous one. This leads to a vicious cycle of bubbles and ever-easier money, in which the value of money incrementally declines, and the gold price appreciates.

Now we understand why, in the chart below, the stock market often peaks just before the price of money is changed, and, as a consequence, the gold price rises.

The red line represents the total equity market capitalization to GDP ratio

After the stock market crash of 1929 the gold price went up, after the Nifty Fifty bubble in the early 1970s the gold price went up, after the dot-com bubble in 2000 the gold price went up, and if the stock market doesn’t recover (relative to GDP) in the coming years the gold price will go up.

How will the price of money be altered this time around? According to Pozsar, through interest rates and price level (yield curve control). After the US weaponized its currency to freeze Russia’s assets, the amount of US government debt that needs to be financed is larger than the world is willing to absorb. The Federal Reserve will bail out the government by buying up bonds of all maturities, effectively capping yields across the curve. Inflation will stay elevated, above the entire yield curve, which lowers the value of money. In this environment investors and foreign central banks will flee to gold.

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//THURSDAY MORNING.7:30 AM

ONSHORE YUAN: UP TO 6.7501

OFFSHORE YUAN: 6.7553

SHANGHAI CLOSED UP 1.61 PTS OR 0.05%

HANG SANG CLOSED UP 78.05 PTS 0.36%

2. Nikkei closed UP 3.82 PTS OR 01%

3. Europe stocks SO FAR: ALL GREEN

USA dollar INDEX UP TO 103,18 Euro FALLS TO 1.0732 DOWN 7 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.500!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 130.53/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 UP /JAPANESE Yen UP CHINESE YUAN: UP-// OFF- SHORE: UP

3f Japan is to buy INFINITE 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 UP for WTI and UP FOR Brent this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund DOWN TO +2.1070%***/Italian 10 Yr bond yield FALLS to 3.939%*** /SPAIN 10 YR BOND YIELD FALLS TO 3.109…** DANGEROUS//

3i Greek 10 year bond yield FALLS TO 4.034//

3j Gold at $1889.00//silver at: 23.75 7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble UP 1 AND 00/100 roubles/dollar; ROUBLE AT 67.72//

3m oil into the 78 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 132.21

30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.9320– as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0049 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: 3.5115% DOWN 5 BASIS PTS…GETTING DANGEROUS

USA 30 YR BOND YIELD: 3.636% DOWN 5 BASIS PTS//

USA DOLLAR VS TURKISH LIRA: 18,78…

GREAT BRITAIN/10 YEAR YIELD: 3.342 % DOWN 7 BASIS PTS

end

i.b Overnight: Newsquawk and Zero hedge:

FIRST, ZEROHEDGE (PRE USA OPENING// MORNING

Futures At Session High, Just Shy Of 4,000, Ahead Of CPI

THURSDAY, JAN 12, 2023 – 07:57 AM

US futures are trading near session highs after earlier fluctuating between gains and losses ahead of make-or-break inflation data which many expect will show price pressures continuing to ease. S&P 500 futures traded 0.1% higher as of 7:30am ET, just shy of 4,000, one day after the S&P 500 clocked this year’s first back-to-back gains on Tuesday and Wednesday. The gains stem from bets that cooling inflation ill give the Federal Reserve room to slow its pace of rate hikes, a take substantiated by Boston Fed chief Susan Collins, who said she was leaning toward a quarter-point move at the bank’s Feb. 1 meeting. Treasuries steadied after gains in Wednesday’s session, with the 10Y trading at 3.52%, while a gauge of dollar strength edged lower as investors looked beyond the drumbeat of hawkish comments from Federal Reserve officials. The yen rallied on a report that the Bank of Japan will look into the side effects of its ultra-loose monetary policy. Commodities are mostly higher with the dollar weaker.

Yesterday, the Fed’s Collins supported a 25bps hike, inline with market expectations coming into CPI. US air traffic was disrupted by a FAA system outage but is back online; US reopening names continue to rally, once again in sympathy with China. Media is flagging the rallies in meme stocks, which may mean that the retail investor is coming back to the market after having sold a near record >$3bn last week. Today’s focus is on the CPI print and the balance of this note includes analysis of the print with views from around the firm, including monetization methods.

“Markets are positioned for a CPI reading which will not disturb their march forward”, said Andrea Tueni, head of sales trading at Saxo Banque France. But “the last three publications generated a lot of volatility across markets so there’s a lot at stake,” he added.

Among premarket movers, Tesla fell 2% after Bloomberg reported that an expansion of the company’s plant in Shanghai has been delayed, putting a roadblock in the way of its ambitions to increase its market share in China. Bed Bath & Beyond shares surged another 26%, extending Wednesday gains, after a rally in other so-called meme stocks. Here are other notable premarket movers:

Spotify shares fall 2.2%, Roku (ROKU US) declines 3.1%, Unity Software (U US) down 2.8% after Jefferies downgraded them in a note on US media outlook, while upgrading Netflix and JAKKS. Netflix shares gain 1.6% after Jefferies raised the recommendation to buy from hold, citing upside surprises to 2024 operating margin.
Tesla fell 1.2%, erasing earlier gains, after Bloomberg reported that an expansion of the US electric carmaker’s plant in Shanghai has been delayed.
Bed Bath & Beyond shares surge 21% in US premarket trading, extending Wednesday gains after a rally in other so-called meme stocks.
Marathon Digital shares advance 8.6%, leading cryptocurrency-exposed stocks higher as Bitcoin rallies to break back above the $18,000 level, extending gains for a ninth consecutive session — its longest streak since July 2020.
Oramed’s US shares plunge 71% after the company’s experimental oral insulin failed in a late-stage clinical trial of Type 2 diabetes patients.
Keep an eye on chemicals after KeyBanc Capital Markets said that it sees a favorable risk skew in the sector’s stocks for 2023, although with only modest upside. The broker downgrades DuPont de Nemours to sector weight.
Citi says it continues to favor US exchange operators over brokers into 2023, in a note cutting Virtu Financial (VIRT US) to neutral.

Every aspect of Thursday’s CPI report will be scrutinized, with extra attention on core inflation, which excludes food and energy and is seen as a better indicator than the headline measure. The projected 5.7% increase would be well above the Fed’s goal, helping explain its intention of keeping rates higher for longer. But the year-over-year price growth would also show moderation.

“Core inflation remains well above target,” said Ronald Temple, chief market strategist at Lazard Ltd. “Having been late to act, the Fed is unlikely to pause the tightening cycle until inflation is definitively under control.”

There was a note of caution in the morning note from JPM’s Market Intelligence team, which warned that most of a CPI miss may already be priced in:

The SPX is +4.2% since last Friday, leading to multiple conversations as to whether a cooler CPI print is priced in. That seems to be the view from my client conversations, with most thinking we see a spike on the print and then fade from there. Their rationale? The print will confirm the deflationary narrative, but it will not be low enough to materially reprice bonds lower. To clarify, this CPI print should not change Fed expectations for 25bps hikes in both February and March. Further, any subsequent Fedspeak is likely to be hawkish given that financial conditions are now looser than at Jackson Hole (is it possible that the Fed could keep 2023 meetings as “live meetings” after they pause?). While recognizing that inflation expectations are lower now, the Fed’s concern is likely to be that, given the relative strength of the US Consumer, that you could see inflation accelerate higher if lending conditions ease.

Thinking about today’s session, I do think there is still the ability for the market to experience another rally despite the moves coming into the print. Longer-term, earnings are the next key catalyst and if Q4 GDP is stronger than expected, this should be reflected in earnings since EPS growth tends to be more correlated to nominal growth rather than real growth.

European equity indexes rose with the Stoxx 600 up 0.7% and reaching highest since last April as traders bet US inflation will show further signs of cooling. The CAC and FTSE have gain 0.6% while the DAX adds 0.5%. Real estate, autos and travel are the strongest performing sectors. Here are the biggest European movers:

Whitbread jumps as much as 4.9%, hitting the highest since February 2022, with analysts saying its “positive” trading update implied improvements in 2023 and 2024 performance
Vodafone shares rise 3% after BofA upgraded to buy, saying easing energy costs and the telecom’s improving price traction should result in positive revision to earnings estimates
Asos shares soar the most since October, after the struggling fast-fashion retailer said it was making headway in plans to turn around its performance
Boozt gains as much as 11%, rebounding from the previous day’s 9.9% plunge, after the Swedish online retailer beat expectations in its 4Q report; a “positive relief,” DNB says
Logitech shares drop as much as 19% in early trading, the most since April 2011, after its second guidance cut in three quarters. The moves pull peers, including GN Store Nord and Demant, lower
Ubisoft shares tumble as much as 22% after forecasting an operating loss, delaying the Skull & Bones title for a sixth time, and saying recent game launches “have not performed as well as expected”
Halfords drops as much as 24%, the most since June 2022, as Peel Hunt trimmed its rating to add from buy, noting labor shortages and cost pressures couuld squeeze profit
Signify shares slumped as much as 6% after the company lowered its full-year guidance once again on Covid-19 disruptions in China

Earlier in the session, Asian stocks advanced, as miners in Australia climbed on demand optimism ahead of highly-awaited US inflation data. The MSCI Asia Pacific Index rose as much as 0.8% to the highest since August before paring. Japan’s MUFJ, AIA in Hong Kong and Australia’s BHP boosted the index the most while the Chinese tech rally took a pause. The stock benchmark in Australia was a notable winner in the region, advancing 1.2% to the highest in five weeks, as miners rallied amid hopes China’s reopening will spur demand for metals. Equities in Japan posted moderate gains helped by financials after a report said the Bank of Japan is reviewing the side effects of its ultra-easy monetary policy. Benchmarks in Hong Kong and mainland China fluctuated between gains and losses as traders digested Chinese inflation data. Trading volume was 14% lighter than average ahead of key consumer price data from the US due later Thursday.

“Continued rerating triggered by improved sentiment is carrying markets higher,” said Lorraine Tan, director of equity research at Morningstar Asia. “Inflation pressure is easing and interest rates should be peaking within the next six months.” While consensus view is that US prices have peaked, investors will scrutinize the upcoming inflation report for any indication of the Federal Reserve’s future rate hike path. Asian equities have outperformed US peers so far 2023 amid reversals in the dollar strength and China’s Covid Zero policy. Easing concerns over China’s regulatory risks and property sector have also lured investors back to the region. “A lot of things that have been bothering me were reversed,” Ajay Kapur, head of APAC and Global EM strategy at Bank of America Securities, told Bloomberg TV, referring to China’s policy turnaround in November. “I’m still quite constructive.” Elsewhere in Asia, the Indonesian benchmark rose, one day after entering a technical correction.

Japanese stocks edged higher as investors assessed reports on the Bank of Japan’s plans and awaited US inflation data that may influence Federal Reserve policy. The Topix rose 0.4% to close at 1,908.18, while the Nikkei was little changed at 26,449.82. The yen gained 0.7% against the dollar after a Yomiuri report that the BOJ is considering further policy tweaks at its meeting next week. Mitsubishi UFJ Financial Group contributed the most to the Topix gain, increasing 5% after the Yomiuri report. Out of 2,162 stocks in the index, 786 rose and 1,257 fell, while 119 were unchanged. “US CPI is definitely one factor to watch, but the BOJ’s YCC change last December still has a lingering effect,” said Hiroshi Matsumoto, senior client portfolio manager at Pictet Asset Management. “It seems that stocks had been oversold on the policy change, and the market is still recovering from it.”

Australia stocks jumpe to a five week high, buoyed by miners. The S&P/ASX 200 index rose 1.2% to close at 7,280.40, its highest level since Dec. 6. The benchmark outperformed regional stock gauges, boosted by banks and miners. Materials shares have been climbing on bets that China’s reopening will fuel demand for metals. Read: China Reopening Sends Australian Mining Stocks Near Record High In New Zealand, the S&P/NZX 50 index rose 0.2% to 11,664.88.

India’s benchmark stock index dropped for a third day ahead of key economic data including retail inflation. Bharti Airtel and Reliance Industries declined amid rising worries over the impact of 5G services on telecom companies’ pricing recovery. The S&P BSE Sensex fell 0.3% to 59,958.03 in Mumbai, while the NSE Nifty 50 Index declined 0.2%. For the week, the benchmark gauge is flat, helped by a sharp rally on Monday. Small and mid-cap stock gauges also declined. BSE Ltd.’s 20 sector sub-gauges were mixed, with capital goods firms leading the advance while oil & gas companies were worst performers. Software exporter Infosys, which reported December quarter earnings after close of trading, posted higher-than-expected profit, while raising sales forecast. Consumer price inflation probably rose 5.9% in December from a year ago, according to a Bloomberg survey, and little changed from the previous month. Data for industrial output in November will also be released after close of markets.

In Fx, the Bloomberg Dollar Index is down 0.2% with the JPY a clear outperformer among the G-10’s. SEK is the weakest. The Bloomberg Dollar Spot Index extended losses in the European session as the yen rallied by as much as 1.2%, to 130.89 per dollar. The greenback traded mixed against the other Group-of-10 peers, with moves confined to narrow ranges.

The yen’s rally followed after the Yomiuri newspaper said policy makers will consider adjusting their bond purchases and make further policy tweaks if they believe they are necessary, without giving any attribution. The cash 10-year yield remained pinned against the 0.50% ceiling while the 15- year yield added 8bps
The euro inched up to a day high of 1.0775. Bunds climbed, led by the belly, and Italian bonds outperformed. Money markets added to ECB tightening wagers, paring some of Wednesday’s late declines after policymakers Rehn and De Cos warned of significant rate hikes
The pound traded higher against the dollar. The Bank of England’s Catherine Mann is due to speak Thursday, with money markets easing wagers on the scope for further rate hikes

In rates, the treasuries curve extends Wednesday’s flattening move with long-end outperforming ahead of 30-year auction, following a wider rally across core European rates led by gilts. US session events include December CPI report and several Fed speakers. US long-end yields richer by about 3bp, flattening 2s10s, 5s30s spreads by 1.5bp and 2bp vs Wednesday’s close; the 10-year trades around 3.52%, trailing bunds by 2.5bp, gilts by 5.5bp in the sector. UK gilts outperform as deteriorating macro backdrop continues to take BOE rate-hike premium out of the UK swaps market. In US, December inflation data is expected to build a case for a downsized 25bp rate hike at the February policy meeting. The US auction cycle concludes with $18bn in 30-year reopening at 1pm; Wednesday’s 10- year auction stopped through by 0.5bp with strong participation metrics. WI 30-year yield at ~3.640% is ~13bp cheaper than December’s result reflecting curve-steepening in the interim. UK and German bonds are marginally higher having pared most of their earlier advance.

In commodities, oil rose for a sixth day on hopes US inflation is cooling and as China’s crude buying ramps up before the Lunar New Year holidays. WTI was up 0.9% to trade above $78. Spot gold rises roughly $8 to trade near $1,884/oz. Base metals are mixed.

In crypto, bitcoin rose above the $18k mark, with today’s action bringing it back towards its 14th December best, which itself is just shy of USD 18.5k. Coinbase is reportedly considering exiting the Japanese market, via Nikkei.

Looking the day ahead now, the main data highlight will be the US CPI release for December, whilst other data includes the weekly initial jobless claims. From central banks, we’ll hear from the Fed’s Harker, Bullard and Barkin, as well as the BoE’s Mann, and the ECB will be publishing their Economic Bulletin.

Market Snapshot

S&P 500 futures little changed at 3,990.25
MXAP up 0.7% to 163.37
MXAPJ up 0.3% to 537.24
Nikkei little changed at 26,449.82
Topix up 0.4% to 1,908.18
Hang Seng Index up 0.4% to 21,514.10
Shanghai Composite little changed at 3,163.45
Sensex down 0.2% to 59,967.65
Australia S&P/ASX 200 up 1.2% to 7,280.40
Kospi up 0.2% to 2,365.10
STOXX Europe 600 up 0.6% to 450.19
German 10Y yield little changed at 2.17%
Euro little changed at $1.0766
Brent Futures up 0.4% to $82.99/bbl
Brent Futures up 0.4% to $82.99/bbl
Gold spot up 0.4% to $1,883.84
U.S. Dollar Index down 0.14% to 103.04

Top Overnight News from Bloomberg

Overnight volatility remains high in the majors as traders await the release of the US CPI data. While dollar-topside bets lose traction across, it’s the shift in the pound’s volatility skew that gains attention while yen bullish exposure meets another catalyst
The euro’s rally against the dollar has stalled over the past month at resistance around its May high. Bulls are hoping Thursday’s US inflation data will provide enough ammunition for it to breach that barrier and resume its progress toward $1.10
Consumers’ expectations for inflation over the next 12 months declined to 5% in November from 5.4% in October, the ECB said Thursday in a statement summarizing the results of its monthly survey
Kazakhstan said local brokerages that snapped up Russian sovereign debt last year did so largely on behalf of clients who were Kazakh and Russian residents
Britain’s markets watchdog has warned of potential “systemic defaults” among wholesale brokers in the City of London that may be unfit to weather sudden shocks and longer periods of stress
HSBC Holdings Plc lost its bid to topple a reputation-bruising decision that it illegally rigged the Euribor benchmark, in a setback that removes part of the gloss from a procedural victory that overturned millions of euros in European Union fines
China hasn’t updated its daily Covid reports for three days, adding to global concerns that the information vacuum is masking the true impact of the world’s biggest outbreak.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded mixed as the major indices failed to fully sustain the early momentum from Wall St. ASX 200 was led higher by outperformance in the commodity-related industries and the top-weighted financial sector, while the latest trade data showed a wider trade surplus. Nikkei 225 faded early gains after a report that the BoJ is to review the side effects of its monetary easing. Hang Seng and Shanghai Comp swung between gains and losses with the Hong Kong benchmark initially boosted by the reopening play which helped energy, auto and casino names. However, Chinese markets then failed to sustain the early moment amid losses in tech and as participants digested mixed inflation data from the mainland in which CPI matched estimates but factory gate prices fell by more than expected.

Top Asian News

PBoC injected CNY 65bln via 7-day reverse repos with the rate kept at 2.00% and CNY 52bln via 14-day reverse repos with the rate kept at 2.15% for a CNY 115bln net daily injection.
US and Taiwan intend to focus on five areas this weekend during their first round of negotiations towards a trade agreement and indicated a readiness for subset deals as the sides make progress, according to WSJ.
BoJ is to review the side effects of its massive monetary easing at its policy meeting next week due to skewed interest rates in markets despite last month’s tweak in its bond yield control policy, according to Yomiuri.
TSMC Offers Mixed Outlook, Lower Spending for Tough Year Ahead
China’s Covid Zero Enforcement Army Faces Unpaid Wages, Job Loss
Fosun Is Said to Weigh Sale of Belgian Diamond-Grading Firm IGI
HSBC Loses Fight at EU Top Court Over Euribor Rigging Charge

European bourses are firmer across the board, Euro Stoxx 50 +0.5%, though price action has been fairly contained in slim pre-CPI newsflow. US futures are essentially unchanged, ES -0.1%, ahead of December’s CPI and Fed speak before and after the key data. TSMC (2330 TT) Q4 (TWD) net 295.9bln (exp. 289.4bln), rev. 625.5bln (prelim. 625.5bln), says smartphone and PC demand dropped more severely than expected. Guides Q1 (TWD) rev. 16.7bln-17.5bln (exp. 16.4bln) and sees H1 revenue down mid-to-high single digit percentage. Tesla’s (TSLA) expansion of its Shanghai plant has been delayed, according to Bloomberg sources; cites concerns in Chinese government over CEO Musk’s Starlink having such a large presence in China.

Top European News

ECB Consumer Expectations Survey: Inflation is seen at 5% (vs. prev. view of 5.4%) over the next 12 months; 3 year inflation is seen at 2.9% vs. prev. view of 3.0%.
UK and EU are preparing to enter an intense phase of negotiations from next week, via Bloomberg citing sources; aim of this is to move into the negotiating “tunnel”, ahead of the April N. Ireland agreement anniversary.
A Third of Dublin’s Office Supply Dormant After Cuts
Arbonia Falls After Margin Warning; Modest Downgrade Needed: ZKB
Apollo-Backed Gaming Firm Lottomatica Weighs $1 Billion IPO
RBC Sees Tough Year For Business Services, Cuts Three Stocks

Yomiuri Yen revival keeps Greenback grounded awaiting US CPI data.
USD/JPY probes 131.00 vs almost 133.00 on Wednesday and DXY tethered to pivotal 103.000 level.
Pound perks up on 1.2100 handle as Dollar drifts, Euro consolidates around 1.0750 axis and Aussie pivots 0.6900 with support from a wider than forecast trade surplus.
PBoC set USD/CNY mid-point at 6.7680 vs exp. 6.7698 (prev. 6.7756)
S. African Finance Minister says they want to resolve the Eskom issue ASAP, part of this is sorting the balance sheet. Appropriate announcement will be made on February 22nd.

Fixed Income

Bonds wane after an early bull run to and through new big figure levels for Bunds and Gilts at 138.45 and 104.14 respectively.
US Treasuries more reserved ahead of inflation report as T-note holds just under w-t-d peak and resistance within a 114-11/22 range.

Commodities

Upside for the crude space has occurred this morning seemingly without a fresh specific catalyst or driver, with the space perhaps taking advantage of a pre-CPI softening in the USD and the somewhat constructive European risk tone.
Lifting WTI Feb’23 to a new WTD peak of USD 78.29/bbl, though this is someway shy of last week’s USD 81.50/bbl best.
China’s customs officials in the Guangdong province reportedly received notice from the local gov’t that they can clear Australian coal shipments, via WSJ citing sources.
Morgan Stanley expects Brent prices to remain range-bound for remainder of Q1, around current USD 80-85/bbl range.
Spot gold is similarly taking advantage of the USD’s pullback but remains slightly shy of yesterday’s USD 1886/oz best thus far, while base metals are softer across the board.
Magnitude 6.4 earthquake strikes Coquimbo, Chile, according to EMSC.

Geopolitics

US Defence Secretary Austin said China’s military is engaging in provocative behaviour around Taiwan to try to establish a new normal, but added that he seriously doubts Chinese provocations are a prelude to an imminent invasion of Taiwan, according to Reuters.
Taiwan’s Defence Ministry said five Chinese air force planes crossed the Taiwan Strait median line in the past 24 hours, according to Reuters.

US Event Calendar

08:30: Dec. CPI MoM, est. -0.1%, prior 0.1%
- CPI YoY, est. 6.5%, prior 7.1%
- CPI Ex Food and Energy MoM, est. 0.3%, prior 0.2%
- CPI Ex Food and Energy YoY, est. 5.7%, prior 6.0%
- Real Avg Hourly Earning YoY, prior -1.9%, revised -2.1%
- Real Avg Weekly Earnings YoY, prior -3.0%, revised -3.3%
08:30: Jan. Initial Jobless Claims, est. 215,000, prior 204,000
- Continuing Claims, est. 1.71m, prior 1.69m
14:00: Dec. Monthly Budget Statement, est. -$65b, prior -$21.3b

Central Bank Speakers

08:45: Fed’s Harker Discusses the Economic Outlook
11:30: Fed’s Bullard Discusses the US Economy and Monetary Policy
12:40: Fed’s Barkin Speaks in Richmond

DB’s Jim Reid concludes the overnight wrap

Morning from Copenhagen on a big day for global markets. Both the worst and best days for the S&P 500 in 2022 came on days of a CPI release. As such, it’s inevitable that today’s US CPI has the ability to shape the next month.

Indeed, after a long run of inflation surprising on the upside, the latest releases have seen two downside surprises on CPI in a row for the first time since the pandemic, which has led to growing hopes that the Fed might achieve a soft landing after all. Furthermore, core inflation has also been increasingly subdued, with the most recent number for November showing monthly core inflation at a 15-month low. Those readings helped to bolster the case for the Fed to downshift their rate hikes last month, and if we did get a third downside surprise today, clearly that would add further fuel on market speculation about a Fed pivot later in the year.

In terms of what to expect today, our US economists think that falling gas prices over December will take headline CPI into negative territory at just -0.15% on the month (vs. -0.1% consensus). They also expect core CPI to remain subdued at +0.22% on a monthly basis (vs. +0.3% consensus), which would be only slightly above the 15-month low of +0.20% in November. If those forecasts are right, then that would take year-on-year growth in CPI down to +6.3% (vs. +6.5% consensus), its lowest in over a year, whilst core CPI would be down to +5.6% (vs. +5.7% consensus). As ever, the individual components will be in focus, particularly the stickier ones that change less frequently.

Ahead of that release, growing optimism about the inflation outlook led to a major rally in sovereign bonds yesterday, particularly in Europe. For instance, yields on 10yr OATs (-14.1bps), BTPs (-18.7bps) and gilts (-14.8bps) all plummeted, and although there was a contract roll on the 10yr bund, the generic series on Bloomberg was also down -10.4bps. In part that was driven by a fresh decline in natural gas prices, which were down -5.56% yesterday to €65.45/MWh, just above their one-year closing low last week.

That rally got further support later in the session by a Bloomberg report which said that German Chancellor Scholz was supportive of a new joint EU financing instrument to help the EU compete against US green subsidies. That helped spreads tighten in particular, with the gap between Italian and German 10yr yields now down to 183bps, which is down by a significant -28.9bps since the start of the year. And the optimism was also clear from other European assets, with the Euro closing at its highest level since May at $1.076, just as the iTraxx Crossover index tightened -10.0bps to levels last seen in April.

In the US, Treasuries rallied as investors looked forward to the CPI release, with 10yr yields down -7.9bps to 3.539% and are down another -1.5bps in Asia at 3.524%. However, the moves have been much more subdued at the front end, with the 2yr yield only down -2.9bps (unch overnight), and there was little sign from Fed funds futures that investors were adjusting their policy outlook either. Indeed, the terminal rate priced in for June was little changed ahead of the CPI today, up just +0.4bps to 4.947%. The lack of movement was despite Boston Fed President Collins saying that she was leaning toward downshifting to a 25bps hike in the February meeting.

For equities, this benign economic backdrop led to further advances, with the S&P 500 up another +1.28%. 22 of 24 industry groups finished up on the day with 80% of overall constituents gaining yesterday. Tech stocks outperformed in that, with the NASDAQ (+1.76%) advancing for a 4th consecutive session for the first time since September. As an example of the swing back, Tesla (+3.68% yesterday) is now up +13.99% from the recent lows on January 3rd. Back in Europe, there were similar gains, with the STOXX 600 (+0.38%), the DAX (+1.17%) and the CAC 40 (+0.80%) all seeing robust advances, which brought the YTD performance for the DAX up to +7.36%.

Asian equity markets have failed to extend the overnight gains on Wall Street though with the Hang Seng (-0.33%), the Shanghai Composite (-0.23%) and the CSI (-0.08%) surrendering their opening gains whilst the Nikkei (+0.10%) and the KOSPI (+0.34%) are just in positive territory. Outside of Asia, US stock futures are fluctuating between gains and losses with contracts on the S&P 500 (+0.04%) just above flat while those on the NASDAQ 100 (-0.05%) trading fractionally lower ahead of the key inflation report.

Data overnight from China showed that inflation accelerated to +1.8% y/y in December, in line with market expectations, driven by rising food prices despite economic activity remaining soft due to Covid. It followed the prior month’s reading of +1.6%. However, factory gate prices (producer prices) dropped -0.7% y/y in December (v/s -0.1% expected), but up from a fall of -1.3% in November. Elsewhere, Australia’s trade surplus unexpectedly grew in November to A$13.20 billion (v/s +A$11.30 billion expected), compared with last month’s revised reading of A$12.74 billion. The figure was at its highest level since a record high hit in June.

In the FX market, the Japanese yen (+0.77%) is strengthening against the dollar this morning, trading at $131.43 following the news that the Bank of Japan (BOJ) will review the side-effects of its ultra-loose policy at next week’s policy meeting.

Elsewhere, several commodities have put in a pretty decent performance over the last 24 hours. For instance, Brent crude oil prices were back up by +3.21% to $82.67/bbl, having risen every day so far this week. They are up another +0.17% in Asia. Separately, copper prices were up +2.17% last night to their highest level since June, having been supported by growing optimism about Chinese demand given the reopening.

Lastly, there wasn’t much data of note yesterday, although Italian retail sales for November unexpectedly grew by +0.8% (vs. -0.3% expected).

To the day ahead now, and the main data highlight will be the US CPI release for December, whilst other data includes the weekly initial jobless claims. From central banks, we’ll hear from the Fed’s Harker, Bullard and Barkin, as well as the BoE’s Mann, and the ECB will be publishing their Economic Bulletin.

AND NOW NEWSQUAWK (EUROPE/REPORT)

JPY outperforms in otherwise relatively contained pre-CPI trade – Newsquawk US Market Open

THURSDAY, JAN 12, 2023 – 06:20 AM

European bourses are firmer across the board, Euro Stoxx 50 +0.5%, though price action has been fairly contained in slim pre-CPI newsflow with US futures essentially unchanged.
Yomiuri Yen revival keeps Greenback grounded awaiting US CPI data; reports the BoJ is to review the effects of its massive monetary easing at next week’s gathering.
Bonds wane after an early bull run to and through new big figure levels for Bunds and Gilts at 138.45 and 104.14 respectively, USTs more reserved pre-CPI/Fed speak.
Crude and precious metals have benefitted from the USD’s pullback, though are yet to eclipse recent bests.
Looking ahead, highlights include US CPI & IJC, speeches from Fed’s Barkin, Bullard & Harker and supply from the US.

View the full premarket movers and news report.

Or why not try Newsquawk’s squawk box free for 7 days?

EUROPEAN TRADE

EQUITIES

European bourses are firmer across the board, Euro Stoxx 50 +0.5%, though price action has been fairly contained in slim pre-CPI newsflow.
US futures are essentially unchanged, ES -0.1%, ahead of December’s CPI and Fed speak before and after the key data.
TSMC (2330 TT) Q4 (TWD) net 295.9bln (exp. 289.4bln), rev. 625.5bln (prelim. 625.5bln), says smartphone and PC demand dropped more severely than expected. Guides Q1 (TWD) rev. 16.7bln-17.5bln (exp. 16.4bln) and sees H1 revenue down mid-to-high single digit percentage.
Tesla’s (TSLA) expansion of its Shanghai plant has been delayed, according to Bloomberg sources; cites concerns in Chinese government over CEO Musk’s Starlink having such a large presence in China.
Click here for more detail.

FX

Yomiuri Yen revival keeps Greenback grounded awaiting US CPI data.
USD/JPY probes 131.00 vs almost 133.00 on Wednesday and DXY tethered to pivotal 103.000 level.
Pound perks up on 1.2100 handle as Dollar drifts, Euro consolidates around 1.0750 axis and Aussie pivots 0.6900 with support from a wider than forecast trade surplus.
PBoC set USD/CNY mid-point at 6.7680 vs exp. 6.7698 (prev. 6.7756)
S. African Finance Minister says they want to resolve the Eskom issue ASAP, part of this is sorting the balance sheet. Appropriate announcement will be made on February 22nd.
Click here for more detail.

FIXED INCOME

Bonds wane after an early bull run to and through new big figure levels for Bunds and Gilts at 138.45 and 104.14 respectively.
US Treasuries more reserved ahead of inflation report as T-note holds just under w-t-d peak and resistance within a 114-11/22 range.
Click here for more detail.

COMMODITIES

Upside for the crude space has occurred this morning seemingly without a fresh specific catalyst or driver, with the space perhaps taking advantage of a pre-CPI softening in the USD and the somewhat constructive European risk tone.
Lifting WTI Feb’23 to a new WTD peak of USD 78.29/bbl, though this is someway shy of last week’s USD 81.50/bbl best.
China’s customs officials in the Guangdong province reportedly received notice from the local gov’t that they can clear Australian coal shipments, via WSJ citing sources.
Morgan Stanley expects Brent prices to remain range-bound for remainder of Q1, around current USD 80-85/bbl range.
Spot gold is similarly taking advantage of the USD’s pullback but remains slightly shy of yesterday’s USD 1886/oz best thus far, while base metals are softer across the board.
Magnitude 6.4 earthquake strikes Coquimbo, Chile, according to EMSC.
Click here for more detail.

NOTABLE HEADLINES

ECB Consumer Expectations Survey: Inflation is seen at 5% (vs. prev. view of 5.4%) over the next 12 months; 3 year inflation is seen at 2.9% vs. prev. view of 3.0%.
UK and EU are preparing to enter an intense phase of negotiations from next week, via Bloomberg citing sources; aim of this is to move into the negotiating “tunnel”, ahead of the April N. Ireland agreement anniversary.

NOTABLE US HEADLINES

WSJ’s Timiraos tweeted Fed research presented at the recent AEA meetings suggests average underlying job growth of around 300k per month last year, which is not as strong as reported in the monthly BLS payroll reports”.
Click here for the US Early Morning note.

GEOPOLITICS

US Defence Secretary Austin said China’s military is engaging in provocative behaviour around Taiwan to try to establish a new normal, but added that he seriously doubts Chinese provocations are a prelude to an imminent invasion of Taiwan, according to Reuters.
Taiwan’s Defence Ministry said five Chinese air force planes crossed the Taiwan Strait median line in the past 24 hours, according to Reuters.

CRYPTO

Bitcoin has eclipsed the USD 18k mark, with today’s action bringing it back towards its 14th December best, which itself is just shy of USD 18.5k.
Coinbase (COIN) is reportedly considering exiting the Japanese market, via Nikkei.

APAC TRADE

APAC stocks traded mixed as the major indices failed to fully sustain the early momentum from Wall St.
ASX 200 was led higher by outperformance in the commodity-related industries and the top-weighted financial sector, while the latest trade data showed a wider trade surplus.
Nikkei 225 faded early gains after a report that the BoJ is to review the side effects of its monetary easing.
Hang Seng and Shanghai Comp swung between gains and losses with the Hong Kong benchmark initially boosted by the reopening play which helped energy, auto and casino names. However, Chinese markets then failed to sustain the early moment amid losses in tech and as participants digested mixed inflation data from the mainland in which CPI matched estimates but factory gate prices fell by more than expected.

NOTABLE ASIA-PAC HEADLINES

PBoC injected CNY 65bln via 7-day reverse repos with the rate kept at 2.00% and CNY 52bln via 14-day reverse repos with the rate kept at 2.15% for a CNY 115bln net daily injection.
US and Taiwan intend to focus on five areas this weekend during their first round of negotiations towards a trade agreement and indicated a readiness for subset deals as the sides make progress, according to WSJ.
BoJ is to review the side effects of its massive monetary easing at its policy meeting next week due to skewed interest rates in markets despite last month’s tweak in its bond yield control policy, according to Yomiuri.

DATA RECAP

Chinese CPI YY (Dec) 1.8% vs. Exp. 1.8% (Prev. 1.6%); PPI YY (Dec) -0.7% vs. Exp. -0.1% (Prev. -1.3%)
Japanese Current Account (JPY) (Nov) 1803.6B vs. Exp. 471.1B (Prev. -64.1B)
Australian Trade Balance (AUD) (Nov) 13.2B vs. Exp. 10.5B (Prev. 12.2B)
Australian Exports (Nov) 0.0% (Prev. -1.0%); Imports (Nov) -1.0% (Prev. -1.0%)

1.c THURSDAY/ WEDNESDAY NIGHT

2 a./NORTH KOREA/ SOUTH KOREA/

///NORTH KOREA/SOUTH KOREA

end

2B JAPAN

Japan

end

3c CHINA /

CHINA/

END

CHINA/USA/RUSSIA/GLOBE

end

CHINA/TAIWAN

end

CHINA/COVID

4/EUROPEAN AFFAIRS/UK AFFAIRS//

ITALY

An excellent commentary on Italy and how it is on a collision course dealing with Brussels

(Gallagher/NakedCapitalism)

Italy & The EU On Collision Course As Economic Conditions Worsen

THURSDAY, JAN 12, 2023 – 02:00 AM

Authored by Conor Gallagher via NakedCapitalism.com,

It seems like yesterday that the western media was up in arms that Italian Prime Minister Giorgia Meloni and her Putin-loving Brothers of Italy (Fdl) party were going to march Italy right out of the EU and NATO.

Unfortunately, Italy’s economy and foreign policy are controlled by the EU and NATO, respectively, and Meloni never showed any desire to rock the boat, immediately pledging fealty to both as soon as the Fdl emerged as frontrunners in the September election.

The problem for Meloni and the country is that those two commitments are now working in tandem to destroy Italians’ standard of living – a long-running process that is now being sped up.

NATO’s proxy war against Russia in Ukraine is driving energy prices through the roof. Gas bills for a median Italian household jumped so much (23.3 percent) in December compared to November that the National Consumer Union was warning of “heart attack bills.” The hikes are hitting consumers and industry alike and causing the government to scale back its meager social spending promises in order to shovel money at the energy problem.

Good news. Inflation in the €zone declined by more than expected in December to 9.2%. Energy prices and (energy-intensive) food prices are still the main drivers. pic.twitter.com/8DBU5qyMLj— Philipp Heimberger (@heimbergecon) January 7, 2023

Despite NATO’s Ukraine war being the driver of Eurozone inflation, the European Central Bank is determined to keep hiking interest rates even if that means recessions for bloc countries and another debt crisis for Italy. The ECB raised its benchmark interest rate by 50 basis points In December, but also signaled that more hikes would follow in the coming months, which triggered a sell-off of Italian government bonds.

Italy’s borrowing costs have risen to over four percent and are causing alarm in Rome. Meloni said the ECB should avoid making “choices that make things worse.” Deputy Prime Minister Matteo Salvini called the ECB’s decisions “unbelievable, baffling, worrying.” Italian Defense Minister Guido Crosetto criticized the ECB and its president Christine Lagarde for blindly following economic theory despite the harm it will inflict on businesses and workers.

“You have to justify this politically to your European citizens. You are not a Martian,” he said. Crosetto even resorted to accusing the ECB of aiding Russia with its rate hikes. The situation for Italy could worsen as growth slows and interest rates rise further. According to FT:

The new Italian government had “given little cause for concern for investors for now,” said Veronika Roharova, head of euro area economics at Swiss bank Credit Suisse. “But concerns may resurface if growth slows, interest rates continue to rise and [debt] issuance is picking up again.”

Economists are now widely expecting all three of those to occur. Two-thirds of economists polled by FT predicted the ECB would start cutting rates in 2024 – likely after Italy and other states in the EU are in a recession. Again from FT:

The ECB will start shrinking its €5 trillion bond portfolio by €15 billion per month from March by replacing only partially matured securities, putting further pressure on Italian borrowing costs. Ludovic Subran, chief economist at German insurer Allianz, said the eurozone risked a repeat of the 2012 bond market collapse “as fiscal options differ across countries without the heavy lifting of the ECB”.

Italy’s borrowing costs have already risen sharply since the ECB started raising interest rates over the summer. The 10-year bond yield has climbed above four percent (the level at which investors say panic sets in), nearly quadrupling the level of a year ago, and 2.1 percentage points above the equivalent yield on German bonds.

According to Bloomberg, such conditions “threaten to unlock the same Pandora’s box that fueled the euro crisis of 2010-12, when the currency bloc nearly split apart as more-indebted countries faced a sudden, harsh tightening of financial conditions as investors sold off their bonds.”

Meloni and the Fdl thought they could pursue policies that married Brussels-prescribed neoliberalism and conservative nationalism, but the current situation shows just how difficult such a strategy is. It’s hard to be nationalist when you don’t control your economy or foreign policy.

Meloni did nearly everything the EU wanted. She declared fealty to the EU and NATO, broke campaign promises in order to scale back meager social spending plans, and appointed pro-EU Atlanticists to key positions like economy minister and foreign minister.

She continued the neoliberal economic reforms of her predecessor, the former vice chairman and managing director of Goldman Sachs International and ECB president, Mario Draghi. She promised to implement further reforms so as not to jeopardize 200 billion euros (a sum that looks paltry in the face of the gathering economic storm) from the European recovery plan.

But the EU always wants more. Brussels and Rome are again at loggerheads over reforms to the European Stability Mechanism (ESM), which was set up in 2012 after the sovereign debt crisis and aims to help bail out countries in exchange for strict reforms (think Greece-level austerity and privatization).

Italy may soon require assistance from the ESM, but the reforms include “a stronger role in future economic adjustment programmes and crisis prevention. In addition, the application process for ESM precautionary credit lines will be easier, and the instruments will be more effective.”

Italy is the only eurozone country that is yet to ratify the ESM reform with many in the country fearful that it would increase the risk of a restructuring of Italy’s national debt, the loss of what little economic sovereignty Italy has left, and a further deterioration in standard of living.

***

A brief background on the makeup of the ESM: it’s comprised of a Board of Governors with a representatives from each of the 19 ESM shareholder countries. After that, it gets a little convoluted. The ESM provides this illustration to clarify things:

The management board of the ESM is composed of the following:

Pierre Gramegna, the former Minister of Finance of the Grand-Duchy of Luxembourg;
Christophe Frankel, the former Head of Financial Markets at Crédit Foncier de France in Paris;
Rolf Strauch, a former European Central Banker in the Directorate General Economics on fiscal, monetary, and structural policies and an economist at the Deutsche Bundesbank;
David Eatough, previously an investment banker at Credit Suisse;
Kalin Anev Janse, a former corporate finance advisor at McKinsey & Company and investment banker at JPMorgan;
Sofie De Beule-Roloff, with a background in hotel and HR management;
and Nicola Giammarioli, formerly an IMF executive board member.

***

Should Italy need assistance from the ESM, it is hesitant to hand over even more of its economic sovereignty to such a group. The Meloni government instead wants the ESM to become a fund to boost investment across the EU and help soften the impact of sky-high energy prices. The suggestion has gained little traction with the rest of the bloc, and the standoff over the ESM reforms could get quite ugly if/when Italy requires assistance.

There are few tragedies that leap to mind in this mess for Italy. The first is that for the past quarter century Italy has followed Brussels’ neoliberal economic playbook, which has only made its situation worse. According to economist Philipp Heimberger:

The mistakes that were made 40 years ago took place in an environment of rising interest rates. Since then, the Italian state has been carrying a heavy interest-rate backpack. If we exclude the burden of interest rates, however, the Italian state consistently ran budget surpluses from 1992 up to the Covid-19 crisis. Even Germany, Austria and the Netherlands recorded a comparable ‘primary’ budget surplus less frequently than Italy. The Italian state has not been as ‘profligate’ as is often claimed: it has consistently collected more in taxes than it has spent. IMF data show that Italy implemented the most severe fiscal consolidation packages of all advanced economies between 1992 and 2009, especially when it comes to spending cuts.

A flexibilisation of the labour market since the 1990s brought a sharp increase in fixed-term contracts, a pushback against trade unions and a decline in real wages compared to Germany and France. These measures not only reduced inflation in the 1990s. Cheap labour has increased the labour-intensity of production, thereby reducing the incentives for labour-saving investment by companies. Private investment, however, is key to rising productivity and is particularly crucial in high-tech sectors. Productivity growth is in turn the basis for growth and rising incomes. Market-liberal labour market reforms have thus arguably done more harm than good to Italy’s productivity growth.

The second tragedy is that Italian workers continue to get hosed, which has also been happening for the past quarter century. In 2000 the standard of living in Italy was comparable to that of Germany. Today, Italy’s per capita income levels are 20 percent below Germany’s. During that same time Italy has become one of the most unequal societies in Europe.

While wealthier Italians (what economist Stefano Palombarini calls the country’s “bourgeois bloc”) support the country’s neoliberal transition and find a voice in every Italian government, the working class has been abandoned by every Italian political party for 30 years.

Ever since the Italian Communist Party – long one of the most powerful in Europe – finally capitulated to CIA efforts to destroy it in the 1990s, Italy’s working class have lacked a political home, and the neoliberal project continues no matter who is in government. That fact has taken a toll as the turnout in Italy’s September election was the lowest since World War Two. Many of those who didn’t bother to go to the polls were working class voters.

Meloni and the Fdl were able to emerge victorious because they were able to, at least momentarily, deflect attention away from the neoliberal policies. Stefano Palombarini writes in Jacobin:

It claims the living conditions of the working classes are not being undermined as a result of neoliberal policies and reforms, but because of threats to national identity, the wave of migration, the explosion of crime, the model of the traditional family being called into question, etc. It goes without saying that the promise of protection against artfully created and largely imaginary enemies is bound to severely disappoint the socially weaker fraction of the right-wing bloc; even so, it has allowed them to reach power.

The problem remains that since Brussels calls the shots in Italy’s economy, workers are stuck in the only major European country where wages have lost value in real terms since the 1990s. One party that appeared to truly want to do something for Italy’s workers was the Five Star movement, which took power in 2018. Its draft budget plan called for an increase in the public deficit, a tax amnesty for lower incomes, pension reform allowing early retirement, and a basic income for citizens.

The EU, to put it mildly, was not a fan and threatened Italy with the dreaded excessive deficit procedure. Therein lies the rub: how do you appeal to a wide swath of the Italian electorate by reversing the decline in their living standards while remaining inside the straitjacket of EU rules?

One route for the Fdl was to try to emulate Poland’s Law and Justice Party (PiS), which took power in 2015 and has remained there ever since by combining neoliberalism and nationalism. But that still requires offering workers at least a little something – something that the Fdl is unable to do or unwilling to try. Instead, Meloni’s government is getting rid of one of Five Stars few achievements (a measly citizens’ wage that provides the unemployed an average of 567 euros a month).

Despite criticism of its conservative social policies, the Law and Justice Party enjoys widespread support from the working class due to its popular programs, including an increase in pension payments, subsidizing children’s school supplies and monthly payments to families per child, from the second child onward.

But even the PiS’ combination of neoliberalism and conservative nationalism has its limits, as Poland is also locked in a battle with Brussels over the release of EU funds. Recall that Meloni and the Fdl were the recipient of not-so-subtle threats from EU officials ahead of the Italian election.

NEW – EU Commission President on the upcoming elections in Italy, where a right-wing victory is expected:

“We will see. If things go in a ‘difficult direction’ – I have spoken about Hungary and Poland – we have tools.” pic.twitter.com/PxtvpXyCua— Disclose.tv (@disclosetv) September 23, 2022

The aristocratic Ursula Von der Leyen was presumably referring to the problems facing Hungary and Poland’s access to EU funds because of their refusals to toe the bloc’s line and/or the ECB’s ability to engineer a debt crisis in Italy.

Despite campaigning as a nationalist, Meloni backed down when she first formed her government. We’ll see how she proceeds now in her standoff with the EU that wants more control over the Italian economy.

END

GERMANY

totally idiotic: police clash with climate protesters in an abandon German village.

(zerohedge)

Absurd Scenes As Police Clash With Climate Protesters Barricaded In Abandoned German Village

THURSDAY, JAN 12, 2023 – 11:55 AM

Just when you thought this timeline couldn’t possibly get any dumber.

Patently absurd scenes took place during and after hundreds of police began clearing climate change protesters out of an abandoned village on Wednesday in a showdown over the expansion of an opencast lignite mine that has highlighted tensions around Germany’s climate policy during the country’s ongoing energy crisis.

The protesters formed human chains, made a makeshift barricade out of old containers and chanted “we are here, we are loud, because you are stealing our future” as dumbounded police in helmets moved in. Some threw rocks, bottles and pyrotechnics although nobody is reported to have superglued themselves to something else. According to Reuters, police also reported protesters were lobbing petrol bombs.

The demonstrators, wearing masks, balaclavas or biosuits (and all probably in their mid teens, with purple hair and extremely bored) have been protesting against the Garzweiler mine, run by energy firm RWE in the village of Luetzerath in the brown-coal district of the western state of North Rhine-Westphalia.

Of course, climate activist and patron saint of idiots everywhere, Greta Thunberg, who recently was dethroned as the world’s “green” oracle by the up and coming sex symbol Sophia Kianni, and desperate to once again be in the spotlight plans to join the demonstration on Saturday, a spokesperson for Luetzerathlebt environmentalist group told Reuters. By then, however, it will be too late.

Economy Minister Robert Habeck of the Greens called for no further violence after police and protesters scuffled.

“Leave it at that – from both sides,” he told reporters. but police say the standoff – a true modern-day version of Kent State… well, not really – could take weeks to resolve.

As the officers moved in, some activists perched on the roofs or the windows of the abandoned buildings, chanting and shouting slogans, because that’s what they do; sometimes they also throw tomato soup at precious paintings and superglue themselves to random stuff.

Others hung suspended from wires and wooden frames, or were holed up in treehouses to make it harder for police to dislodge them after a court ruling allowed for the demolition of the village now otherwise empty of residents and owned by RWE. Which of course only made the bored, purple-haired teenagers even angrier.

Julia Riedel, who said she has been camping in the village for two-and-a-half years – because jobs are for wimps, not for courageous crusaders against evil companies that deliver electricity – said the demonstrators had taken up their positions “because the issue here is whether the climate will cross the tipping point or not.”

Actually, the issue is that Julia is a spoiled little brat who needs some purpose in her life, which is otherwise a miserable and empty existence, even if that purpose is to make Greta Thunberg’s puppetmaster parents even richer.

Luckily police, who had water cannon trucks on standby, led away and carried some protesters from the site. It’s unclear if Julia was among them.

The project has underscored Germany’s dilemma over climate policy, which environmentalists say has taken a back seat during the energy crisis that has hit Europe after Russia’s invasion of Ukraine, forcing a return to dirtier fuels.

It is particularly sensitive for the Greens party, now back in power as part of Chancellor Olaf Scholz’s coalition government after 16 years in opposition. Many Greens oppose the mine’s expansion, but Habeck has been the face of the government’s decision.

“The empty settlement of Luetzerath, where no one lives any more, is the wrong symbol in my view,” Habeck said with reference to the demonstration.

Some disagreed: Birte, a 51-year-old midwife who joined the protest on Sunday, was in tears as police led her away. She said it was important for politically moderate citizens to attend the protest, to show “that these are not just young, crazy, violent people, but that there are people who care”.

As it turns out, it was mostly young, crazy, violent people.

Police have urged the protesters to leave the area and remain peaceful, but since protesters would have to go back to their empty lives devoid of meaning and purpose, they refused.

“It’s a big challenge for the police and we need a lot of special forces here to deal with the situation. We have aerial rescue specialists,” said police spokesperson Andreas Mueller.

“These are all factors that make it difficult to tell how long this will last. We expect it to continue for a least several weeks.” Of course, once temperatures turn subzero in Europe, the confrontation between will be over in seconds.

Meanwhile, a Reuters eyewitness saw police using heavy machinery to start dismantling high barricades. RWE said earlier on Wednesday it would start to dismantle Luetzerath, and had begun building a fence around the area.

“RWE is appealing to the squatters to observe the rule of law and to end the illegal occupation of buildings, plants and sites belonging to RWE peacefully,” RWE said.

Not lost on any third party observers is just how idiotic the whole scene looks from outside: the fallout of Russia’s invasion of Ukraine has prompted Scholz’s government to change course on previous policies for Germany, a country which solemnly pretended to be enamored with the idiocy that is the “green new deal”, so much so that the Greens actually believed their own lies, and so did the people… the same people have now pay the highest price for power and heat since the Weimar republic.

And so, from a symbol of progressive green-isn, Germany has regressed to the dismal era of flourishing fossil fuel, crushing the idealistic hopes and visions of an entire generation of idiots. Among German’s relapses include firing up mothballed coal power plants and extending the lifespan of nuclear power stations after Russia cut gas deliveries to Europe in an energy standoff that sent prices soaring.

Of course, it wouldn’t be Germany if it didn’t demonstrate it has learned absolutely nothing, and as a virtuous offset to its pissing on progressives dreams and ideals, the government has brought forward the date when all brown coal power plants will be shut down in North Rhine-Westphalia, to 2030 from 2038, acceding to a campaign promise from the Greens. In other words, much more idiocy awaits the German virtue signalers.

END

EUROPE

Expect colder weather in Europe next week and that will drive up energy costs

(zerohedge)

Colder Weather Might Return To Northwest Europe Next Week

THURSDAY, JAN 12, 2023 – 04:15 AM

European natural gas prices have plunged to pre-Ukraine invasion levels on mild winter. Heating demand across the EU has declined, allowing fuel storage tanks to continue injections and remain above seasonal levels. This bodes well for the energy-stricken continent, but new weather forecasts suggest a late-month return to winter.

The benchmark Dutch TTF futures contract for February was down to 65.80 euros a megawatt-hour or more than 6% on the session. On the eve of Russia’s invasion last February, the contract sold for about 88 euros.

Several factors have allowed the EU to skirt around an energy crisis, including alternatives to Russian NatGas, such as increased imports of US LNG, widespread conservation efforts for residential and business customers, and a very mild winter.

NatGas stockpiles across the continent are well above a 12-year mean for this time of the year. The percentage of NatGas full has yet to fall from around 83% since Christmas.

Meanwhile, new weather models are pointing to a possible flip back to colder temperatures next week for parts of Europe. Natgas traders will be focused on the severity of the cold and the impacts on heating demand.

The return of wintry conditions follows a record-warm start to the year, which provided relief from an energy crunch that has hammered Europe for months. The mild weather curbed demand for heating, allowing some countries to top up natural gas stockpiles at a time when they’d usually be tapping supplies.

Most of Britain will see below-average temperatures by the end of next week, with snow possible in northern areas, according to the country’s Met Office. –Bloomberg

A few models show the possible cold snap for parts of the EU next week.

It’s been a mild start to the year, but colder air is on the way back to the UK

Many of us will see the return of overnight frosts, and snow is possible in some areas by early next week pic.twitter.com/8GLpCWgWpU— Met Office (@metoffice) January 11, 2023

Vers un net refroidissement la semaine prochaine sur l’#Europe occidentale, dont la #France, ou plutôt retour à un temps classique d’#hiver après des semaines trop douces. Possibilité de #neige jusqu’en plaine à surveiller ! pic.twitter.com/wR7YzywqW1— Anthony Grillon (@AnthoGrillon) January 11, 2023

Colder temperatures could be arriving in North West EU in days.

However, Ole Hansen, head of the commodity strategy at Saxo Bank A/S, pointed out that “despite the risk of a colder end to January and early February, the abundance of gas in Europe will continue to curb the upside risk, even with increased demand from Asia.”

5.UKRAINE RUSSIA//MIDDLE EASTERN AFFAIRS

RUSSIA/UKRAINE

War is war and we are all now at war, combatants willing or not

This our reality that confronts us all no matter where we live or what we do, as we have become unwitting or unwilling combatants now.

Chief of General Staff Gerasimov Named Commander of Russian Forces in Special Military Operation

https://sputniknews.com/20230111/russian-mod-chief-of-general-staff-gerasimov-named-commander-of-joint-group-of-forces-in-ukraine-1106228956.html

As usual, people are writing about how General Armageddon has been replaced by Gerasimov, they are so wrong. More weight is being put on the Ukraine because the scope of conflict is escalating. It is why the Russian Black Sea fleet was put to sea this morning and why so much disclosure has occurred about the state of the art Russian Frigate carrying Zircon missiles that fly at mach9+. And no no one told you about the accompanying Russian subs carrying Zircons as escort. We in west are showboat actors whereas Russians calculate using math to determine war efforts and have patience. After all this is not Hollywood; this very real life and death. And not just of ordinary people but now that of nations.

In Soledar in the Ukraine 25,000 Ukrainian troops have been killed, in recent days. Do not believe; then talk to the soldiers that survived to carry the memories. Forget Zelensky saying he is winning. When his lips move and he lies with each movement. The truth is Ukrainians are sent to the death by a corrupt thieving administration in Kiev led by Zelenskyy and funded by America and other NATO allies. And thus enabling a effective gun running operation to fund many a pocket. This is a fact, not a fiction.

If it wasn’t for western involvement trying to use the Ukrainians as expendable fodder in a proxy war with Russia, the endless death and agony in the Ukraine would never have come about. However, this is a much broader conflict than what people would have you think. It is broader because in the context of what is actually going on, war is actually being waged not only against the Russians using the Ukrainians, Poles and many other nationalities but against humanity across the broad in the Western World, and elsewhere. Often, we hear the rumblings out of Klaus at the WEF as he opinions on how to remake the world having sold governments on his foolish idealism of communism. It did not work for Marx and it will not work for Klaus. Both of them ignore human nature to their detriment. However realizing that people will not willingly give up their possessions and be happy contrary to ordering such gibberish, the goal is to start to eliminate all those people who are not considered to be necessary burden on society relieving pensions and governments of liability and cost so that they can afford to buy time. This means they will attempt to kill all those who fall into this category. This specifically means elderly people. And how they will do this is with new upcoming vaccinations which are the subject of discussion in Davos. Believe it or not immoral people have no conscious. Watch and you will soon see.

You may or may not know that Putin told Klaus to piss off as did XI of China. Neither will play with him and his puppets in the sandbox. America and her so called expendable allies are simple fodder to compel Russia first and then China to bend to their will. Before the hourglass of time runs out on the financial state of the West. Many have tried to explain that Europe castrated itself the day they took interest rates to zero. Thereby destroying all pension funds to the point of bankruptcy. Today what we see is the majority of governments running debt-based finance in an effort to keep their economies alive while lying to the public about how they will ever pay back the debt. The whole Western banking system which is debt based and reliant on confidence in the system is failing, running its course to the point where it can no longer continue on the same path. Klaus was wrong and now time is catching up with ill advised decision making taken by governments that requires faster and more sinister moves to be made while there is still time. Did you know America is within $5 billion of its’ debt ceiling?

When all else fails one goes to war to hope to cover up the mistakes of the past and to blame someone else other than oneself. Have you ever known a politician to admit a mistake?

So let’s turn back to the Ukraine for perspective of what is coming. In past we have tried to explain that Putin is a moderate compared to those hard liners behind the curtain, who will not hesitate to nuke several cities to make the point, if required. And yes, so far Russia has been hesitant about showing its’ state of art technology to give the West a look at what really awaits them in days to come. This is about to change as Russia prepares to excercise the next phase, it is compelled to take in confrontation. Without causing a wider conflict outside the Ukraine which is what is desired by the West. And this is why so far Poland and Romania have been spared complete destruction. If the next phase is not enough, then a wider escalation will take place and it will not be pretty. Judgement is coming.

Here is a English translation of Putin said in a recent speech:

PUTIN’S JANUARY 7, 2023 SPEECH

I’m tired today. I am tired of everything. I want to talk to the countries of the World. What’s happening? What kind of Satan’s plan do you dream of?

You want to deliberately reduce the world’s population by sacrificing innocent lives using unstable spirits who believe in your political correctness.

People brainwashing, vicious media systems, and shameless lies- constantly and intentionally. I am aware of your Satanic Plans to reduce the population of the planet.

You are so Evil to use the weakest and marginalized. If you think your people will have to get used to being massacred , leave your position!

If America and Europe do not end these plans, you will face not only God’s judgment, but mine as well. Stop your plans! Long live God and the Fatherland, or death is waiting for you.
This is clear warning to the Davos crowd and their minions, and their roll out new vaccinations; and the gun runners who are lining their pockets using the blood of many people to enable their graft. One warning that they should take to heart because there will be no other warning, only escalations in set stages. So if NATO really thinks they can wait until the last Ukrainian dies before moving in, they are wrong. And the Poles are truly delusional thinking their 250,000 conscript army will roll into Moscow. They will all be dead long before hand.

This is the reality of the world today and what is now imminent in days, weeks and months ahead.

END

6/GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES

Vaccine//Covid issues: Injuries

It does not look like Pfizer submitted results of post vaccination myocarditis etc. I wonder why/

(Stieber/EpochTimes)

Deadline Passes For Pfizer To Submit Results Of Post-Vaccination Heart Inflammation Study To US Regulators

THURSDAY, JAN 12, 2023 – 09:44 AM

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The deadline has passed for Pfizer to submit the results of a study exploring the frequency of heart inflammation following receipt of the company’s COVID-19 vaccine.

Pfizer was required by the U.S. and Food and Drug Administration (FDA) to conduct multiple studies on its vaccine after the FDA approved the shot in August 2021 because regulators determined that without the studies, there would not be sufficient data to assess the “known serious risks of myocarditis and pericarditis,” or heart inflammation and a related condition.

Regulators were also concerned about the potential risk of subclinical myocarditis, or heart inflammation without typical symptoms.

The FDA told Pfizer to carry out six studies, with various deadlines for completion and reporting final results to the agency. The first final deadline arrived on Dec. 31, 2022.

Pfizer was required to submit a report on the study, which was to assess the incidence of subclinical myocarditis following administration of a third dose of Pfizer’s vaccine, or a booster shot, in people aged 16 to 30.

It’s unclear whether Pfizer met the deadline. The company and the FDA did not respond to requests for comment, and neither have issued any information about the study or its results since the deadline passed.

According to the FDA, Pfizer had until June 30, 2022, to complete the study and then another six months to prepare and submit the final results.

In a Dec. 8, 2022, memorandum explaining why the FDA authorized Pfizer’s bivalent booster without any clinical data, FDA officials noted that Pfizer was “conducting additional safety-related post-authorization/post-marketing studies for the PfizerBioNTech COVID-19 Vaccine, including post-marketing requirements to assess known serious serious risks of myocarditis and pericarditis and an unexpected serious risk of subclinical myocarditis..”

‘Shouldn’t Have to Ask’

The results of the study should be shared promptly, according to Jessica Adams, a former regulatory officer at the FDA.

“We shouldn’t have to ask or demand this information. We should expect that it’d be promptly shared by default,” Adams wrote on Twitter.

Dr. Janet Woodcock, the agency’s principal deputy director, told Adams in an email that the FDA is “not allowed to comment on potential actions on regulated products.”

It’s not clear how reporting results on a study relates to potential regulatory actions.

In light of the growing amount of evidence related to post-vaccination adverse events, some others are questioning the FDA’s delay in sharing information on the study.

“Why are FDA officials dragging their feet on making Pfizer’s prospective study data on subclinical myocarditis available to the public when evidence has been published in the medical literature that Pfizer’s pre-EUA clinical trials revealed ‘a 36 percent higher risk of serious adverse events in vaccinated participants in comparison to placebo recipients,’” Barbara Loe Fisher, co-founder and president of the National Vaccine Information Center, told The Epoch Times via email.

She was citing a reanalysis of the original trial data that found vaccinated participants had a higher risk of serious adverse events.

“With 79 percent of Americans having received at least one COVID shot and so many vaccinated young adults, especially physically fit athletes suffering heart attacks and sudden deaths, public health officials should insist that the company with the biggest market share of the COVID vaccine business in the U.S. be completely transparent about what it knows about the biological mechanisms of heart inflammation induced by the mRNA COVID vaccine Pfizer maintains is both safe and effective,” Fisher added.

Warning

The FDA added a warning about myocarditis following Pfizer and Moderna vaccination to patient and health care provider fact sheets in June 2021. Both vaccines utilize messenger RNA (mRNA) technology. Prospective vaccine recipients were told the risk of myocarditis was increased after vaccination, particularly after the second dose of the two-dose primary series.

If certain symptoms appeared after vaccination, such as chest pain or shortness of breath, people were told to immediately seek medical care.

U.S. authorities, and some officials elsewhere, have since acknowledged that the vaccines cause heart inflammation.

“The current evidence supports a causal association between mRNA COVID-19 vaccination and myocarditis and pericarditis,” Dr. Tom Shimabukuro, a top CDC official, said during a meeting in 2022.

Some cases of the post-vaccination inflammation have ended in death.

Some 5,163 reports of post-vaccination myocarditis, pericarditis, or myopericarditis have been filed with the Vaccine Adverse Event Reporting System (VAERS), a passive early warning system that alerts officials to possible side effects from vaccines. The reports don’t prove a connection with a vaccine but are an undercount of the true number of cases, research has found and authorities have acknowledged.

More than 800,000 other adverse events following receipt of the Pfizer vaccine have been lodged with the system.

Moderna Studies

The FDA also required Moderna to conduct post-approval studies after approving the company’s shot in early 2022.

Moderna was told to carry out six studies, the same number as Pfizer, focusing on assessing the incidence of myocarditis and pericarditis, the long-term impact of myocarditis, and the occurrence of subclinical myocarditis.

Two studies were due to be completed by Dec. 31, 2022, but the deadlines for submission of the results to the FDA aren’t until June 30, 2023.

Other deadlines for the Moderna and Pfizer studies stretch months or even years into the future, including one in 2025 and one in 2028.

end

GLOBAL ISSUES;//

Paul Alexander writes that the plot thickens as to the origin of the lab leak…..and it is not China

a good read…

Plot is thickening as to origin of COVID virus: U.S. Government Identified as Original Source of Lab Leak Theory. What’s Really Going On? Did US, Fauci, release COVID virus in China? Provocative!

The explanation is that the Chinese lab origin narrative was put out by U.S. intelligence in early January as a cover story. A cover story for what? For a U.S. biological attack on China.

DR. PAUL ALEXANDERJAN 12

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SOURCE:

U.S. Government Identified as Original Source of Lab Leak Theory. What’s Really Going On?

Background and it’s worth considering if only to broaden your library of knowledge on this situation.

Here’s one possible explanation, which makes sense of all the known facts – though is admittedly highly disturbing. It may not be correct, but I confess I cannot currently think of a better one. Perhaps someone else can.

The explanation is that the Chinese lab origin narrative was put out by U.S. intelligence in early January as a cover story. A cover story for what? For a U.S. biological attack on China. As a cover story for an attack, it serves four key purposes. First, it preempts allegations of a U.S. attack (and indeed the anonymous U.S. official falsely claimed these had already been made). Second, it anticipates the need to explain the non-natural origin of the virus, which would be expected to be discovered, as a natural origin manifests differently to a non-natural origin – a natural origin should have animal reservoirs, early genetic diversity and evidence of adaptation to humans, which are lacking for SARS-CoV-2. Third, it spreads alarm in China – one of the purposes of the attack. And fourth, it justifies the U.S. and other countries activating biodefence protocols to defend themselves from any blowback – which we know is exactly what they did, and that they treated it as a matter of national security, not public health.

The idea that the U.S. might deliberately release a virus in China might seem far-fetched to some. However, it’s well known that the Pentagon intensified its research into bat-borne viruses in the years approaching the pandemic. Though it said this was solely for defensive purposes given the supposed risk of bats being used as “bioweapons”, scientists have previously warned, in the journal Science, that another supposedly defensive Pentagon programme, DARPA’s “Insect Allies” programme, appeared really to be aimed at creating and delivering a “new class of biological weapon” and that it revealed “an intention to develop a means of delivery of HEGAAs for offensive purposes”. In addition, the Iranian Government was so convinced that its early COVID-19 outbreak in February 2020, which killed a significant number of its senior leaders, was due to a U.S. biological attack that it lodged a formal complaint with the UN. Such allegations don’t prove anything of course. But together these concerns do suggest that such an attack is not outside the realm of possibility and should at least be considered as an explanation for the origin of the virus.’

‘The fears of this group of scientists about being implicated in the creation of the virus led them to organise a highly effective effort to dismiss and suppress the lab origin theory. This intervention greatly complexified the cover story, with the result that the output from the U.S. intelligence community (IC) became confused and inconsistent. In what follows I enumerate the six main interventions of the U.S. intelligence community during the pandemic and suggest what likely lay behind them. They are:

‘The November 2019 secret intelligence report claiming to show a large respiratory outbreak in Wuhan that was used to brief the U.S. Government, NATO and Israel. Importantly, the alleged evidence for this outbreak has never been produced, and what evidence there is suggests that in reality there was no detectable outbreak in Wuhan in November 2019, meaning the report appears to have been largely a work of fiction.
The January 2020 introduction and promotion of the Chinese lab origin story, as set out above.
The early April 2020 media briefings from unnamed intelligence sources about the November intelligence reports noted in (1) above. These briefings were particularly odd because by that point the main origin story being pushed by official U.S. channels was the wet market theory, which this information contradicted because it implied a large outbreak (an “out of control” epidemic and “cataclysmic event”) well before the wet market outbreak in December.
The late April and early May 2020 public endorsement by the U.S. intelligence community of the wet market natural origin theory. This contradicted both the early April anonymous media briefings mentioned in (3) above and the lab origin story in (2), while at the same time embarrassing Mike Pompeo and President Trump who were at the time strongly pushing the lab leak theory.
The August 2021 declassified intelligence report on Covid origins, which gave a somewhat mixed picture of how the intelligence community assessed the lab leak theory. What the report was sure to make clear on the first page, however, is that the virus was “not developed as a biological weapon” and it was “not genetically engineered”. The report says that a small number of IC elements thought the virus might have escaped from a lab (though as a natural, not engineered, virus); in particular the National Center for Medical Intelligence (NCMI), which was responsible for the November 2019 secret intelligence report and (presumably) the April 2020 anonymous media briefings, endorsed this theory with “moderate confidence”. Note that by this point the lab leak theory was back in play following the WHO origins investigation in February 2021.
The October 2022 Senate minority report, which for the first time set out the evidence in favour an engineered virus and a lab leak. U.S. biodefence bigwig Robert Kadlec was behind this report and it notably did not mention the November 2019 U.S. intelligence report, which appears to have been entirely ‘forgotten’ (indeed, it has never been officially acknowledged). It also made no reference to the United States’ considerable involvement in bat coronavirus research in the years prior to the pandemic. We should also note that the evidence presented in the report of an alleged safety breach at the WIV in November 2019 was all assembled retrospectively – there is no suggestion that such evidence was known at the time, and the report makes clear that all its information comes from publicly available sources, stating: “This report has reviewed open source, publicly available information relevant to the origins of the virus.”
END
Mr. John Leake (partner of Dr. Peter McCullough) penned this substack that I wish to share, calling into question Twitter language used by Mr. Michael Senger on Dr. McCullough; my remarks below DR. PAUL ALEXANDERJAN 12 SAVE ▷ LISTEN I am a senior fellow at Brownstone and Mr. Senger writes for Brownstone and so I wish to be respectful of Brownstone and Mr. Tucker.I think that the words used by Senger were misplaced and wrong. There is no one save Dr. Harvey Risch and folk like Dr. Oskoui who have done more, with Dr. Ladapo and Dr. Urso and Jenny Beth Martin, and Dr. Lee Vliet, as well as Jeff Tucker, Dr. Breggin, and Dr. Scott Atlas, and myself, in fighting the COVID tyranny from lockdowns to the fraud COVID gene injections. I will add Bhattacharya and Kulldorff (and Gupta). I do not pretend to speak for any of these people. Tenenbaum, Sass, Hodkinson, Trozzi etc. Look, several others who stood up and put necks on the line, careers, and name and lost near all. For those I did not name, I apologize, but you are there. As much as I detest and loath Berenson’s continued attacks on Dr. Naomi Wolf, very poor form, I will cite he was out early with us too, banging away. Berenson, check yourself on those attacks on Wolf and Kirsch. Not needed, warranted, and we can all feed at the trough. Do not belittle each other. Do not attack each other, we have one dragon to slay. I want you in the fight and you do good. But tone it down. You attack good people, strong, contributing, marvelous people needlessly and wrongfully. Pick up the phone, write and email, no open forum attacks. Not good form.
This is not a race and let us stop the issue of who spoke to who first and who had who on their show and the like. Just stop it! This remains a very serious world altering event that we are still struggling with. We need all hands on deck. We must be statesmanlike.Mr. Leake did a great job and the truth is that from day one, it was McCullough out there with us waging war on the malfeasants, with Jeff Tucker opening the way, as well as Trial site news (Daniel). We do not seek any leader but if one is to be named for the COVID freedom warriors, it would be McCullough and Risch. Yet we seek none.I think Senger’s words were offensive and wrong. Very wrong and he did not do his homework. I admire Senger for his work on study of China etc. He is a Brownstone colleague and before now, I had only praise. I still do but we have to clean this up. We cannot use Twitter and the like to hurt each other and I only write here to follow Leake and to help set the record straight for a good man.I am asking Mr. Senger to step back and apologize to Dr. McCullough for his damaging words and let us move on! Huge hugs to all. That is it and call McCullough if you have issues. Please read the depth and breath of all McCullough has done and is doing before you write things like that. We are all human beings and make mistakes and hurt and this must be hurtful, for all you did was smear a good man.Come on Senger, you are better than that, smart, well thought out, so do not be like the crazies we are fighting against who ransacked and near destroyed our world.Huge hugs my man, I know you will resolve statesmanlike. You are that!Courageous Discourse with Dr. Peter McCullough & John Leake“The Catastrophic Impact of Covid Forced Societal Lockdowns”By JOHN LEAKE Last night, Dr. Paul Alexander called me (John Leake) to express concern that Dr. McCullough’s work over the last three years is being misrepresented on Twitter by a lawyer named Michael P. Senger, who tweeted on January 8, 2022: Peter McCullough is the most overrated “COVID skeptic” account. … McCullough never actually opposed lockdowns bef…Read more

PAUL ALEXANDER

A must read: peer reviewed Dr Frainman calls for immediate withdrawal of all MRNA vaccines as he discovers huge injuries with them

Dr Frainman/Dr Panda

Another Doctor Calls For ‘IMMEDIATE WITHDRAWAL’ of all mRNA Vaccines

‘We have conclusive evidence that the vaccines are inducing sudden cardiac death’

DR PANDAJAN 11

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Good Morning!

Somewhat good news as Dr. Joseph Frainman has called for an immediate withdrawal of mRNA ‘vaccines’. Dr. Frainman was one of the lead authors on a study last year that reanalyzed clinical trials done by Pfizer and Moderna which determined that there were dangers with the ‘vaccine’. At the time he didn’t call for a suspension of the mRNA instead he wanted more studies. Now he wants them stopped.

Dr Aseem Malhotra @DrAseemMalhotra

BREAKING: Lead author of peer reviewed research re-analysing Pfizer & Moderna trials on mRNA vaccine @JosephFraiman calls for immediate suspension of jab due to serious harms. ‘We have conclusive evidence that the vaccines are inducing sudden cardiac death’ This is huge

7:35 AM ∙ Jan 9, 202361,870Likes33,899Retweets

For those who do not have Twitter or cannot watch the video, here is the full transcript:

Hello. My name is Dr. Joseph Fraiman. I’m an emergency physician based in Louisiana. In addition, I am a clinical scientist. I was lead author of a peer-reviewed study that reanalyzed the original Pfizer and Moderna clinical trials for the messenger RNA COVID-19 vaccines. We found the vaccine increased serious adverse events at a rate of one in 800.

At the time of publication, my coauthors and I did not believe our single study warranted the withdrawal of the messenger RNA vaccines from the market. However, since its publication, multiple new pieces of evidence have come to light and this has caused me to reevaluate my position. An article published in the BMJ regarding the FDA’s own observational surveillance data found the messenger RNAs were associated with multiple of the exact same serious adverse events identified in our original study but the FDA had failed to inform the public of these findings.

In addition, now we have multiple autopsy studies that find essentially conclusive evidence that the vaccines are inducing sudden cardiac deaths. Yet the rate of these vaccine-induced deaths remains unknown.

While many nations that have been using the messenger RNA vaccines have experienced an increase in excess mortality, more people dying than should be expected from past years and this correlates in time with the initial vaccine rollout and then with the subsequent booster campaigns. Nations with higher messenger RNA vaccine uptake have correlations with higher rates of excess mortality.

While the cause of this excess mortality is not known, researchers analyzing this data were unable to identify any other reasonable cause of the excess death other than the vaccines.

Given now the Omicron variant is less virulent and is able to evade much of the protection offered by the vaccines, this creates a situation where the benefits of the vaccine have been dramatically reduced for hospitalization and death.

Together, this information calls into question if the vaccine’s benefits are outweighing the harm. I believe, given the information, the messenger RNA vaccines need to be withdrawn from the market until new randomized controlled trials can clearly demonstrate the benefits of the vaccine outweigh the serious harm we know now know the vaccines are causing.

Reanalysis Study:

Serious adverse events of special interest following mRNA COVID-19 vaccination in randomized trials in adults

Dr. Frainman et al published a study in 2022 which was a secondary analysis of serious events reported in the clinical (original) trials of Pfizer and Moderna. This study found:

1 serious event per 800 vaccines.
Combined, the mRNA vaccines are associated with an excess risk of serious adverse advents of special interest of 12.5 per 10,000
- Pfizer – 10.1 per 10,000 vaccinated over placebo baselines of 17.6
- Moderna – 15.1 per 10,000 vaccinated over placebo baseline of 42.2
Pfizer: 36% higher risk of serious Adverse Events of Special Interest (AESI)
- Vaccine Group – 52 serious AESI (27.7 per 10,000)
- Placebo Group – 33 serious AESI (17.6 per 10,000)
Moderna: 6% higher risk of serious Adverse Events of Special Interest (AESI)
- Vaccine Group – 87 serious AESI (57.3 per 10,000)
- Placebo Group – 64 serious AESI (42.2 per 10,000)

What are the multiple new pieces of information? Dr. Frainman points to 2 studies.

I believe this is the article in the BMJ that is referenced:

FDA urged to publish follow-up studies on covid-19 vaccine safety signals

The article states the FDA has not made public, for over a year, data on serious adverse reactions following COVID-19 ‘vaccinations’. In July 2021 the FDA released the following ‘protocol’ that included findings of a potential increase in serious adverse reactions.

Assessment of Acute Myocardial Infarction, Pulmonary Embolism, Disseminated Intravascular Coagulation and Immune Thrombocytopenia Following COVID-19 Vaccination

However, the FDA promised it would “share further updates and information with the public as they become available.”

More than a year later, however, the status and results of the follow-up study are unknown. The agency has not published a press release, or notified doctors, or published the findings by preprint or the scientific literature or updated the vaccine’s product label.

Autopsy-based histopathological characterization of myocarditis after anti-SARS-CoV-2-vaccination

Joseph Fraiman @JosephFraiman

@TheSacredIsle@DrAseemMalhotra@hughgreenauthor Here’s the autopsy study, 3 deaths categorized as likely vaccine-induced myocarditis deaths, and 2 possible. They found pathological damage in their cardiac tissue that’s never been observed in 20 years of autopsy reports at their institute. link.springer.comAutopsy-based histopathological characterization of myocarditis after anti-SARS-CoV-2-vaccination – Clinical Research in CardiologyCases of myocarditis, diagnosed clinically by laboratory tests and imaging have been described in the context of mRNA-based anti-SARS-C…8:16 AM ∙ Jan 9, 2023180Likes54Retweets

This is commonly referred to as the “Schwab” study after the author, Constantin Schwab. Schwab et al.’s study performed standardized autopsies on 25 people that died unexpectedly (within 20 days) of COVID-19 vaccination. They found patients who received an mRNA vaccination with acute myocarditis and without another reason for sudden death – 3 likely vaccine and 2 probably vaccine.

“In four patients who received a mRNA vaccination, we identified acute (epi-)myocarditis without detection of another significant disease or health constellation that may have caused an unexpected death.”

Postmortem investigation of fatalities following vaccination with COVID-19 vaccines

In this published study the authors performed postmortem investigations of the fatalities of 18 deceased persons who recently received a COVID-19 vaccination of various types. They found:

13 deceased: No link to vaccination – cause of death attributed to preexisting diseases.
1 deceased – Cause of death was Myocarditis
4 deceased – Cause of death was vaccine-induced immune thrombotic thrombocytopenia

Autopsy Findings and Causality Relationship between Death and COVID-19 Vaccination: A Systematic Review

In this study, the authors reviewed and analyzed 38 cases from published studies that dealt with autopsies that mentioned COVID-19 vaccines in 2021. They found the following:

22 cases were related to ChAdOx1 nCoV-19 (AstraZeneca)
10 cases to BNT162b2 (Pfizer)
4 cases to mRNA-1273 (Moderna)
2 cases to Ad26.COV2.S (Johnson & Johnson)

Based on these data, autopsy is very useful to define the main characteristics of the so-called vaccine-induced immune thrombotic thrombocytopenia (VITT) after ChAdOx1 nCoV-19 vaccination: recurrent findings were intracranial hemorrhage and diffused microthrombi located in multiple areas. Moreover, it is fundamental to provide evidence about myocarditis related to the BNT162B2 vaccine.

Autopsy Histopathologic Cardiac Findings in 2 Adolescents Following the Second COVID-19 Vaccine Dose

In this study, the authors examined the microscopic cardiac findings of two teenage boys that died shortly after receiving their second dose of the Pfizer vaccine to determine if the myocarditis described in these patients had the typical histopathology of myocarditis. Result: It didn’t.

The microscopic examination revealed features resembling a catecholamine-induced injury, not typical myocarditis pathology.

These are only basic summaries of the studies, pointing out the key findings. To summarize:

Based on these studies (and presumably others) Dr. Frainman believes mRNA vaccines are inducing sudden cardiac death and need to be withdrawn immediately.

He joins the (growing) list of other medical professionals and scientists getting ‘red pilled’ calling for a stop to the ‘vaccines’. In reality, it’s simply a doctor doing research that should have been done before the worldwide vaccine rollout began.

Very soon I predict a time when the number of people who demand answers is too great to ignore, the evidence too overwhelming.

Justice and accountability? We are still far from that. If you have a different opinion please let me know in the comments.

end

Breaking: MASSIVE surges in Cardiac Symptoms following Second Pfizer COVID Injection dose: Chiu et al.: “Cardiac symptoms are common after second dose Pfizer vaccine”; shock: 17% had cardiac symptoms

see rise dose 1 to 2: Palpitation, Chest pain, Dyspnea, Dizziness or syncope, Any of the cardiac symptoms, Arrhythmia, ST-T change etc. see data Table 3 on 5 patients; after 2nd does

DR. PAUL ALEXANDERJAN 11

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51 students presented with marked substantial changes in ECGs post the second Pfizer injection. ‘Abnormal ECGs were obtained in 51 (1.0%) of the students’.

The alarm with findings such as these is when you extrapolate them to millions of Americans who took the COVID gene injection (mRNA) (and especially young persons, note alarming research is showing females are also impacted e.g. myocardial lesions, with the mRNA shots) and the sequelae is ‘silent’ and then as they get older, they die suddenly, on the playing field, in their sleep etc. It is happening all around us now and you know it and you are concerned, rightly so, especially for your children you allowed to get these shots. This is a devastating feeling for parents, as if there is a ticking time bomb now in their children! And the FDA and CDC and NIH and Pfizer and Fauci and Walensky and Ashish Jha and Hotez and Njoo and Tam etc. are all still saying these deadly shots are safe and the government still pushing it on you. There is likely substantial cardiac damage that is silent with pending cardiac death.

I am simply telling you what the fraud complicit media and government health officials and academia and medical doctors who somehow are incentivized and ‘silent’, won’t tell you. I am sharing the science that they cover up! Should this study not be discussed in the news? Did you know of this study? I think you did not. Would you not liked to be told of this? I sure think so. Please share it! Share tables 1-3.

SOURCE:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9813456/

end

NFL lineman suggests COVID ‘vaccines’ to blame after college basketball player collapses; NFL player DeMarcus Walker tweeted, ‘It gotta be these vaccines.’ BINGO, DeMarcus, you get the prize!

Not the money specifically. All doctors getting patients funded by medicare and medicaid are demanded to push clot shots and to never tell the truth or they WILL, not may, lose their medical license

DR. PAUL ALEXANDERJAN 12

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SOURCE:

https://www.lifesitenews.com/news/nfl-player-suggests-covid-vaccines-to-blame-after-college-basketball-player-collapses/?utm_source=digest-freedom-2023-01-12&utm_medium=email

‘(LifeSiteNews) — Relatively little media attention has been paid to a scary moment that occurred during an Old Dominion University men’s basketball game this past weekend when one of the team’s players collapsed on the court during the first half.

Sophomore guard Imo Essien was playing defense when he fell to the ground and suffered what appeared to be some sort of chest-related incident. He was tended to immediately by trainers and did not lose consciousness. Local media is reporting that Essien was scheduled to see a cardiologist on Monday, January 9.

Medical professionals from both Old Dominion and its opponent, Georgia Southern, evaluated Essien, who hails from Wylie, Texas. He walked off the court after being on the ground for several minutes. He spent the remainder of the night on the bench for the Monarchs, who are 10-6 this year.’

Red Voice Media @redvoicenews

College Basketball Player Collapses Suddenly, Imo Essien Goes Down Clutching His Chest “Members of the Old Dominion men’s basketball team watched in shock, and many held back tears, as their teammate Imo Essien had to be tended to by training staff” – Nathan Epstein

12:55 PM ∙ Jan 8, 20231,745Likes1,044Retweets

/VACCINE IMPACT

MP Andrew Bridgen Takes a Stand for Truth and for the People by Sacrificing his Political Career in Opposing Pfizer and Moderna

January 11, 2023 5:43 pm

Last month (December, 2022) I reported about 2 different political events where politicians publicly stated that the experimental COVID-19 “vaccines” were neither safe nor effective, and were in fact killing people, on the same day, December 13, 2022. One of those events happened at The House of Commons in the UK where Andrew Bridgen, a Member of Parliament (MP) delivered an amazing speech about the corruption behind the Pfizer COVID “vaccines” and how they were harming and killing people. The other event that happened on December 13, 2022, was a round table public discussion in Florida led by Governor Ron DeSantis and his Surgeon General, Dr. Joseph Ladapo, which also included other medical doctors, and alleged victims who had suffered from taking a COVID-19 “vaccine.” However, what Andrew Bridgen was calling for, an immediate and complete suspension of any more COVID vaccines, was different than what Ron DeSantis and Joseph Ladapo were calling for. Andrew Bridgen has not stopped trying to warn the public about the criminals who are mass-murdering people, and a Tweet he put out on Twitter earlier today has now effectively ended his political career. This is what he said in his Tweet: “As one consultant cardiologist said to me this is the biggest crime against humanity since the holocaust.” The reaction was swift and immediate. Andrew Bridgen was stripped of the party whip after his tweet, and that led to widespread condemnation from politicians, Jewish groups and medical experts. This 17-word tweet has now effectively ended Andrew Bridgen’s political career, because he “crossed a line.” What was that “line”?

18 Year Old Las Vegas High School Student “Suddenly And Unexpectedly” Dies Of Cardiac Arrest After Gym Class

THURSDAY, JAN 12, 2023 – 12:20 PM

Either there is a new focus in media on reporting about the untimely deaths of athletes and young adults, or something very odd appears to be taking place across the country.

Either way, we are having difficulty keeping up with what now seems like daily headlines about young adults “dying suddenly” – and far too soon – from unexpected cardiac issues. And of course, the left-wing censor-machine remains on overdrive for anyone that dares the thought-crime of asking questions about the related causes of death.

Recall, just yesterday, we wrote about 21 year old Air Force football player Hunter Brown, who suffered a “medical emergency” while walking to class on Monday of this week and passed away. This came just hours after the MMA world was shocked at the unexpected death of 18 year old Victoria Lee, a rising star on the the ONE Championship MMA promotion, just days after we highlighted Old Dominion basketball player Imo Essien collapsing on the court during the middle of a game and a little more than a week after NFL player Demar Hamlin collapsed on the field due to cardiac arrest after making what appeared to be a routine tackle.

No sooner did we publish yesterday’s article than another popped up in its place, with TODAY reporting on the story of a high school senior who “suffered cardiac arrest and was found unresponsive in the school bathroom” after gym class at Amplus Academy in Las Vegas.

18 year old Jordan Brister could not be saved by the time emergency personnel were alerted to his condition. A friend of his family wrote on a GoFundMe page for Brister that he “suddenly and unexpectedly suffered cardiac arrest while at school with no explanation as to why.”

The page continued: “Words cannot express what the Brister family is going through and there will never be enough answers as to why this has happened. He was an amazing kid who loved life to the fullest.”

“His family does not know what happened, other than his heart stopped, and he had no medical history and did not do drugs,” another report said.

Even more stunning is that, buried later in the TODAY article about Brister is the reveal that his deal happened the same week as the death of another Las Vegas High School student. Brister’s collapse was on January 8, 2023, and another student, 16 year old Ashari Hughes, had died just three days prior “following a flag football game at Desert Oasis High School” and suffering a “medical episode”.

Dr. Adam Kean at Riley Hospital for Children in Indianapolis, of course, reminded TODAY that “sudden cardiac arrest is the leading cause of death in high-school athletes”. But even he remarked on how rare it was: “Even though it is the No. 1 cause, it is remarkably rare, which is important. We estimate that one in 30,000 children die of cardiac arrest each year, and that sounds incredibly small. But that’s still around 2,000 children in the United States each year.”

Meanwhile, the Clark County Coroner’s Office “said the exact cause of Brister’s death is still under investigation”.

SLAY NEWS

The latest reports from Slay NewsDemocrat Claims Gas Stoves Are Causing ‘Cardiac Problems’A California Democrat has thrown his support behind calls from the Biden administration to ban gas stoves from American homes by claiming that the appliances are causing “cardiac problems.”READ MORE Air Force Football Player Hunter Brown Dies Suddenly at 21 Air Force football player Hunter Brown, an offensive lineman, has died suddenly at just 21 years old, according to reports.READ MORE GOP Launches First House Committee Probe into Biden over Classified Documents The House GOP-led Committee on Oversight and Accountability has launched an investigation into Democrat President Joe Biden after classified documents were found in a private think tank office in Washington, D.C.READ MORE Buffalo Bills Gives Fantastic Update: ‘Damar Hamlin Has Been Discharged’ from Hospital The Buffalo Bills has given a fantastic update on star safety Damar Hamlin, revealing that the NFL player has been discharged from the hospital to continue his rehab at home.READ MORE Harvard Medical Offering Course on Sex-Change Treatments for ‘Infants’Harvard Medical School is now offering new a course about providing sex-change treatments for “infants.”READ MORE Man’s 115-Pound Wife Goes Missing after He Googled How to ‘Dispose of 115-Pound Woman’s Body’A Massachusetts man is under investigation for the disappearance of his 115-pound wife after he Googled how to “dispose of a 115-pound woman’s body” shortly before she was reported missing.READ MORE Delivery Driver Carjacked by Armed Man Near Lori Lightfoot’s Chicago Home A food delivery driver was robbed at gunpoint and had his car stolen by an armed carjacker less than a block from the Chicago home of Democrat Mayor Lori Lightfoot.READ MORE AOC Backs Calls to Ban Gas Stoves, Claims They Cause Brain Damage Celebrity Democrat Rep. Alexandria Ocasio-Cortez (D-NY) has spoken out in support of the Biden administration’s calls to ban gas stoves from American homes.READ MORE Pop Star Warns Young Women against Abortion: ‘You Will Regret It Your Whole Life’Pop star Kaya Jones, a former singer for the platinum-selling Pussycat Dolls, has warned young women against abortions.READ MORE All U.S Flights Grounded over FAA Computer Glitch, White House Investigating The White House says it is investigating the Federal Aviation Administration (FAA) computer glitch that has caused all flights across the country to be grounded.READ MORE Hollywood Finally Gives ‘Yellowstone’ Major Award as Kevin Costner Wins Golden Globe for Best Actor in Drama Series

Robert Hryniak	10:36 AM (3 hours ago)
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