sgtreport--2020-03-21--U.S. OIL PRICE COLLAPSE = U.S. ECONOMIC COLLAPSE

The oil price collapse is a bad omen for much worse things to follow .
The global contagion is impacting the U.S. economy and the domestic oil industry far greater than I realized just two weeks ago .
As I try to allow my analysis to “ Catch Up ” to the gravity of the situation , my new forecast of the U.S. economy and oil industry is quite dire indeed .
I don ’ t say this to panic anyone , but to provide a more “ realistic and pragmatic ” view of where we go from here over @ @ @ @ @ @ @ The rapid collapse in the U.S. oil price suggests BIG TROUBLE ahead for the domestic shale oil industry .
While the low oil price is causing havoc in the shale industry , it ’ s only one component of the overall equation .
Today , oil consumption in the United States has already declined significantly due to the lockdown of many cities and areas in the country .
However , this is just the first stage of the crisis .
My gut tells me that U.S. oil consumption is likely down 25-30 % @ @ @ @ @ @ @ state and federal governments continue to lockdown additional cities , we may see upwards of 40-50 % drop-off in oil consumption .
It sounds outlandish , but we have to start considering the FACTS .
Here is the U.S. oil price collapse over the past five weeks : During the week of February 18th , the oil price closed at $ 53.38 .
Four weeks later , the price fell 58 % to $ 22.63… as of the close Friday .
Analysts , investors , and the public don ’ t seem to @ @ @ @ @ @ @ is taking place .
According to the EIA , U.S. Energy Information Agency , the United States consumed 21.5 million barrels per day ( mbd ) of oil products as of March 13th .
Now , we don ’ t consume all of that amount domestically , some supply is exported .
From the EIA ’ s recent update , the U.S. oil refining industry supplied 16.1 mbd of gasoline , jet fuel , and diesel… but 2.2 mbd were exported .
Thus , my back of the napkin calculation suggests that U.S. @ @ @ @ @ @ @ was about 14 million mbd .
If we assume 25-30 % of gasoline , jet fuel , and diesel consumption is already cutback , that ’ s already a loss of about 4 mbd , or it will be shortly .
We have to keep an eye on the U.S. petroleum stocks over the next few weeks and month , but at some point , domestic demand destruction will eventually force the oil industry to cut back on production because… THERE WILL BE NO PLACE FOR THE OIL TO GO !
!
I @ @ @ @ @ @ @ just how quickly U.S. oil production will decline , NOT DUE TO THE LOW PRICE , but because the market won ’ t need it .
This is by far the MOST DAMAGING factor for the U.S. Shale Oil Industry .
Back in early 2016 , when the oil price fell briefly to the $ 20s , the U.S. Shale Oil Industry cut back on CAPEX and new wells .
However , as the oil price recovered , shale companies started to increase CAPEX spending , additional wells , and production .
This @ @ @ @ @ @ @ the present DECLINE is not due to the low oil price , but the MASSIVE DESTRUCTION in demand .
The next chart shows how quickly U.S. Shale oil production can decline if no new wells are added : U.S. shale oil production at the end of 2018 , not including 2019 ’ s production , fell from 7.3 mbd to 3.9 mbd in just ELEVEN MONTHS !
!
LOL .
That is the natural decline rate of U.S. shale oil .
Thus , if the industry added NO NEW WELLS in 2019 , @ @ @ @ @ @ @ 3.4 mbd .
The next chart is my estimate of where U.S. shale oil production could fall by the end of Q2 2020 : I believe U.S. shale oil production could likely collapse 2-3+ mbd by the end of Q2 2020 ( June 30th ) .
Again , there just won ’ t be any place for all this oil supply to go if the United States continues to lockdown or even declare martial law .
Already , the airlines have cut back flights at least 30-40 % , and that will increase @ @ @ @ @ @ @ biggest declines in Gasoline and Jet Fuel consumption .
Because we still need to move food , goods , and products around , truck traffic will remain pretty robust even though we are going to see a decline in overall semi-tractor truck traffic .
I can tell that U.S. domestic gasoline consumption is down drastically because the wholesale RBOB price closed at 61 cents today ( Friday ) .
Less than a month ago , wholesale gasoline was trading at $ 1.72 .
If we add federal and state taxes along with the @ @ @ @ @ @ @ to see $ 1.20- $ 1.30 a gallon in most cities shortly .
One of my followers sent me a Facebook image of 99 cents in Kentucky… ALREADY !
!
Honestly , the speed to which the entire Global Economy and Financial System collapsed has taken me by surprise .
But , all we can do is try to react to what is taking place and prepare accordingly .
I now see the U.S. oil price falling to the low $ 10s… MAYBE EVEN LOWER to the SINGLE DIGITS .
Why ?
Because @ @ @ @ @ @ @ gut the oil spot price until the industry curtails production .

by Steve St. Angelo, SRSRocco Report:
The oil price collapse is a bad omen for much worse things to follow. The global contagion is impacting the U.S. economy and the domestic oil industry far greater than I realized just two weeks ago. As I try to allow my analysis to “Catch Up” to the gravity of the situation, my new forecast of the U.S. economy and oil industry is quite dire indeed.
I don’t say this to panic anyone, but to provide a more “realistic and pragmatic” view of where we go from here over the next few weeks and months. The rapid collapse in the U.S. oil price suggests BIG TROUBLE ahead for the domestic shale oil industry. While the low oil price is causing havoc in the shale industry, it’s only one component of the overall equation.
Today, oil consumption in the United States has already declined significantly due to the lockdown of many cities and areas in the country. However, this is just the first stage of the crisis. My gut tells me that U.S. oil consumption is likely down 25-30% already… maybe more. But, as state and federal governments continue to lockdown additional cities, we may see upwards of 40-50% drop-off in oil consumption. It sounds outlandish, but we have to start considering the FACTS.
Here is the U.S. oil price collapse over the past five weeks:
During the week of February 18th, the oil price closed at $53.38. Four weeks later, the price fell 58% to $22.63… as of the close Friday. Analysts, investors, and the public don’t seem to understand just how much oil demand destruction is taking place. According to the EIA, U.S. Energy Information Agency, the United States consumed 21.5 million barrels per day (mbd) of oil products as of March 13th. Now, we don’t consume all of that amount domestically, some supply is exported.
From the EIA’s recent update, the U.S. oil refining industry supplied 16.1 mbd of gasoline, jet fuel, and diesel… but 2.2 mbd were exported. Thus, my back of the napkin calculation suggests that U.S. domestic consumption of these three petroleum products was about 14 million mbd. If we assume 25-30% of gasoline, jet fuel, and diesel consumption is already cutback, that’s already a loss of about 4 mbd, or it will be shortly.
We have to keep an eye on the U.S. petroleum stocks over the next few weeks and month, but at some point, domestic demand destruction will eventually force the oil industry to cut back on production because… THERE WILL BE NO PLACE FOR THE OIL TO GO!!
I don’t believe most analysts realize just how quickly U.S. oil production will decline, NOT DUE TO THE LOW PRICE, but because the market won’t need it. This is by far the MOST DAMAGING factor for the U.S. Shale Oil Industry. Back in early 2016, when the oil price fell briefly to the $20s, the U.S. Shale Oil Industry cut back on CAPEX and new wells. However, as the oil price recovered, shale companies started to increase CAPEX spending, additional wells, and production. This time around will be much different because the present DECLINE is not due to the low oil price, but the MASSIVE DESTRUCTION in demand.
The next chart shows how quickly U.S. Shale oil production can decline if no new wells are added:
U.S. shale oil production at the end of 2018, not including 2019’s production, fell from 7.3 mbd to 3.9 mbd in just ELEVEN MONTHS!! LOL. That is the natural decline rate of U.S. shale oil. Thus, if the industry added NO NEW WELLS in 2019, the shale oil industry would have lost 3.4 mbd.
The next chart is my estimate of where U.S. shale oil production could fall by the end of Q2 2020:
I believe U.S. shale oil production could likely collapse 2-3+ mbd by the end of Q2 2020 (June 30th). Again, there just won’t be any place for all this oil supply to go if the United States continues to lockdown or even declare martial law. Already, the airlines have cut back flights at least 30-40%, and that will increase during Q2 2020. I see the biggest declines in Gasoline and Jet Fuel consumption. Because we still need to move food, goods, and products around, truck traffic will remain pretty robust even though we are going to see a decline in overall semi-tractor truck traffic.
I can tell that U.S. domestic gasoline consumption is down drastically because the wholesale RBOB price closed at 61 cents today (Friday). Less than a month ago, wholesale gasoline was trading at $1.72. If we add federal and state taxes along with the gas station profit, we are going to see $1.20-$1.30 a gallon in most cities shortly. One of my followers sent me a Facebook image of 99 cents in Kentucky… ALREADY!!
Honestly, the speed to which the entire Global Economy and Financial System collapsed has taken me by surprise. But, all we can do is try to react to what is taking place and prepare accordingly. I now see the U.S. oil price falling to the low $10s… MAYBE EVEN LOWER to the SINGLE DIGITS. Why? Because the massive demand destruction will continue to gut the oil spot price until the industry curtails production.
Read More @ SRSRoccoReport.com


sgtreport--2020-03-26--TYRANNY ALERT: Trump signs executive order banning “hoarding” of medical supplies as AG Barr promise

TYRANNY ALERT: Trump signs executive order banning “hoarding” of medical supplies as AG Barr promises “a knock on the door” for those sitting on commercial quantities of things the government wants to steal

President Donald Trump has made it clear he ’ s going to use the force of government to acquire supplies for protecting healthcare workers and patients as the Wuhan coronavirus ( COVID-19 ) outbreak worsens .
On Monday the president signed an executive order banning “ hoarding ” of essential medical supplies like masks , gloves and gowns currently in short supply at hospitals around the country .
These items , known as personal protective equipment , or PPE , are crucial in preventing the spread of the virus to those who are charged with taking care of us at @ @ @ @ @ @ @ hundreds of thousands of coronavirus hospitalizations and deaths .
Editor ’ s note : The Trump administration is now criminalizing inventory of medical supplies .
For this very reason , we are no longer importing such items and making them available to America , given that we can now be accused of “ hoarding ” for merely having inventory in our warehouse .
This executive order is an attack on freedom and will dissuade importers from offering medical equipment in the United States , having exactly the opposite effect of what ’ s @ @ @ @ @ @ @ government tyranny and theft of supplies by a government that failed to prepare , so now it ’ s punishing the private sector for its own incompetence .
It ’ s not yet known what definition of “ hoarding ” will be used by the government to visit commercial suppliers with “ a knock on the door ” to make them hand over their inventories to the federal government .
The very existence of this order essentially declares that the government can hoard supplies , but the private sector can not .
It @ @ @ @ @ @ @ own supplies of medical equipment have run out , providing that the government suffers from a stunning lack of planning and preparedness which it is now exploiting to confiscate medical gear from commercial suppliers .
The lack of planning by the government , in other words , is now being translated into confiscation efforts that target private industry .
The use of the term “ hoarders ” is to vilify private industry as a way to justify the government theft .
“ This sends a strong message – we will not let those @ @ @ @ @ @ @ harm the health of America in this hour of need , ” White House press secretary Stephanie Grisham said in a statement .
Attorney General William Barr had a strong message for “ hoarders ” as well , noting that anyone found to be in violation of the executive order was at risk of being raided by federal agents .
“ If you have a big supply of toilet paper in your house , this is not something that you have to worry about , but if you are sitting on a warehouse @ @ @ @ @ @ @ hearing a knock on your door , ” he said .
( Presumably followed by the “ bang ” of gunfire if you resist . )
The order granted the Department of the Health and Human Services to designate select medical equipment as scarce , according to Barr , who said that the Department of Justice would be working with them to retrieve the equipment .
Barr said that people hoarding medical goods and materials on an industrial scale for the purpose of manipulating the markets would be affected , not businesses obtaining @ @ @ @

by JD Heyes, Natural News:
President Donald Trump has made it clear he’s going to use the force of government to acquire supplies for protecting healthcare workers and patients as the Wuhan coronavirus (COVID-19) outbreak worsens.
On Monday the president signed an executive order banning “hoarding” of essential medical supplies like masks, gloves and gowns currently in short supply at hospitals around the country.
These items, known as personal protective equipment, or PPE, are crucial in preventing the spread of the virus to those who are charged with taking care of us at a time when some experts are projecting hundreds of thousands of coronavirus hospitalizations and deaths.
Editor’s note: The Trump administration is now criminalizing inventory of medical supplies. For this very reason, we are no longer importing such items and making them available to America, given that we can now be accused of “hoarding” for merely having inventory in our warehouse. This executive order is an attack on freedom and will dissuade importers from offering medical equipment in the United States, having exactly the opposite effect of what’s intended. This is nothing short of government tyranny and theft of supplies by a government that failed to prepare, so now it’s punishing the private sector for its own incompetence.
It’s not yet known what definition of “hoarding” will be used by the government to visit commercial suppliers with “a knock on the door” to make them hand over their inventories to the federal government. The very existence of this order essentially declares that the government can hoard supplies, but the private sector cannot. It further confirms that the government’s own supplies of medical equipment have run out, providing that the government suffers from a stunning lack of planning and preparedness which it is now exploiting to confiscate medical gear from commercial suppliers.
The lack of planning by the government, in other words, is now being translated into confiscation efforts that target private industry. The use of the term “hoarders” is to vilify private industry as a way to justify the government theft.
“This sends a strong message – we will not let those hoarding vital supplies and price gougers to harm the health of America in this hour of need,” White House press secretary Stephanie Grisham said in a statement.
President @realDonaldTrump just signed an EO to prevent hoarding & price gouging of supplies needed in our war against the #Coronavirus. This sends a strong message – we will not let those hoarding vital supplies & price gougers to harm the health of America in this hour of need. pic.twitter.com/eksxQOVKNM — Stephanie Grisham (@PressSec) March 23, 2020
Attorney General William Barr had a strong message for “hoarders” as well, noting that anyone found to be in violation of the executive order was at risk of being raided by federal agents.
“If you have a big supply of toilet paper in your house, this is not something that you have to worry about, but if you are sitting on a warehouse with surgical masks, you will be hearing a knock on your door,” he said. (Presumably followed by the “bang” of gunfire if you resist.)
Breitbart News reported further:
The order granted the Department of the Health and Human Services to designate select medical equipment as scarce, according to Barr, who said that the Department of Justice would be working with them to retrieve the equipment.
Barr said that people hoarding medical goods and materials on an industrial scale for the purpose of manipulating the markets would be affected, not businesses obtaining supplies for operation.
Read More @ NaturalNews.com


sgtreport--2020-03-26--The European Central Bank Is Being Stretched to Its Breaking Point in Italy

When Mario Draghi ’ s tenure was approaching its end , I argued for a sterner governor for the European Central Bank ( ECB ) ; hence , I was not even slightly enthusiastic when Draghi ’ s successor turned out to be Christine Lagarde—a patent dove , as can be inferred from her ideological proximity to a famous Keynesian like Olivier Blanchard .
However , I am here to defend the stance she took with her March 12 speech—in which , addressing the economic turmoil spurred by the coronavirus crisis , she declared that it was not a central @ @ @ @ @ @ @ occurrence of spreads on financial markets—which has been fiercely attacked both by Italian media and politicians , and even by Italian president Sergio Mattarella .
There are three reasons why I deem , for once , Lagarde ’ s viewpoint to be right .
These reasons are based in monetary policy theory , in the institutional framework of European Union , and in the current situation of the Italian economy .
First , we need to understand that what Lagarde stated—that it is not her job to prevent government bonds ’ prices in @ @ @ @ @ @ @ from diverging—is absolutely correct from a technical perspective .
Indeed , if we consider the theoretical approach to the role of the central bank as a lender of last resort as conceived by both Walter Bagehot and Henry Thornton ( both recognized and respected even by mainstream neoclassical economists ) , we find that actually there should be no room for monetary policy to be influencing assets ’ relative prices .
In fact , the role of a central bank ( i.e.
, of a lender of last resort in a fiat money @ @ @ @ @ @ @ be to grant liquidity to temporarily illiquid—but solvent , i.e.
, structurally sound—commercial banks .
In no way should monetary policy be involved in steering ( and messing with ) asset prices—as has regrettably been occurring in the EMU since the beginning of QE in March 2015—since central banks ’ interferences distort the natural market formation of prices , bringing about Cantillon effects and spurring both malinvestment and excessive risk taking ( through generally lowering returns on assets and pushing savers to invest in riskier ones ) .
It is evident that the @ @ @ @ @ @ @ central bank ; suffice it to mention that currently the ECB ’ s balance sheet is roughly 40 percent of the EMU ’ s GDP and that the European banking system is already flooded with €1.5 trillion in excessive reserves .
Hence , it is also frankly hard to see how further room for monetary policy interference in a market capitalist economy could be justifiable—even conceding to hardened shortsighted Keynesians that the current coronavirus shock is a purely demand-side one , which it absolutely is not .
The Institutional Framework of the European @ @ @ @ @ @ @ and straightforward .
First of all , we need to remember that EMU is a monetary union in which European national states retain fiscal sovereignty .
The problem with such a framework is that Italian monetary nationalists , Keynesian and MMTer ( modern monetary theory ) pseudoeconomists , and national socialist politicians interpret this international deal as follows : “ burdens should be shouldered together and addressed with a common tool ( i.e.
, the currency we all share , the euro ) , whereas benefits should be enjoyed privately by member states.
@ @ @ @ @ @ @ ( or pretend not to see ) that the only way—even under a Keynesian paradigm—whereby monetary policy could be helpful in such a crisis would be if the fiscal policy decision level were the same as the monetary policy one .
This is exactly why the current EMU ’ s institutional framework—developed in the unideal world we live in , i.e.
, with fiat money , fractional reserve , and Keynesian macroeconomics—already provides OMT ( outright monetary transactions ) , that is , a safety net for those governments ( such as the @ @ @ @ @ @ @ monetary policy shield to cover their debt costs .
Obviously enough , however , given that the euro is the currency of all Europeans ( and not only of Italians ) , the regulatory framework of OMT requires the applying state to sign a Memorandum of Understanding , which basically transfers its fiscal sovereignty at the European level .
So , it is evident that the tool available to the Italian government in order to reduce its financing costs already exists and can be triggered whenever Italian politicians would like to do so @ @ @ @ @ @ @ want to squander the dowry of every European ( i.e.
, the euro , which would be inflated and/or whose massive unbalanced injection would cause price distortions ) without agreeing to implement those fiscal and institutional reforms that by themselves would suffice to better their public finance lot and to reduce the funding cost of their debt .
In other words , Italians want to be saved by the EU without being subject to any conditions .
Secondly , we ought not to forget that the ECB has already helped Italian governments a @ @ @ @ @ @ @ , indeed , has so far ( December 2019 ) bought roughly €370 billion in Italian bonds and €530 billion in German ones ; however , German GDP is now ( 2019 ) almost twice as much as Italy ’ s—meaning that in terms of the proportion of government bond purchases to national GDP Italy has been hugely privileged ( 530/370 = 1.4 ) through disproportionate monetary policy support for its public debt funding cost .
The Current Situation of the Italian Economy To put it bluntly , there is nothing monetary policy @ @ @ @ @ @ @ .
Italy is a paramount example of a capital-consuming economy , where the investment level has plummeted ( Figure 1 ) and labor productivity stagnates ( Figure 2 ) .
Moreover , unfavorable demography ( almost one Italian in four is older than 65 ) and decreasing natality ( on average roughly half as many children as were born in the 1950s and ’ 60s are born annually ) put further stress on the frail pension system—which has was very poorly devised in the 1970s and ’ 80s .
In other words , @ @ @ @ @ @ @ trick that can save Italy now : the only available path is to reduce pension expenditures ( which are the second highest in proportion to GDP among Organisation for Economic Co-operation and Development ( OECD ) members , immediately after Greece ’ s ) and employ these resources in healthcare and tax reductions .
However , those are all policies that do not ( or should not ) at all concern a central banker , and they are exactly the policies that other European partners would request Italy to enact in order to @ @ @ @

by Fabrizio Ferrari, Mises:
When Mario Draghi’s tenure was approaching its end, I argued for a sterner governor for the European Central Bank (ECB); hence, I was not even slightly enthusiastic when Draghi’s successor turned out to be Christine Lagarde—a patent dove, as can be inferred from her ideological proximity to a famous Keynesian like Olivier Blanchard.
However, I am here to defend the stance she took with her March 12 speech—in which, addressing the economic turmoil spurred by the coronavirus crisis, she declared that it was not a central banker’s job to prevent the occurrence of spreads on financial markets—which has been fiercely attacked both by Italian media and politicians, and even by Italian president Sergio Mattarella. There are three reasons why I deem, for once, Lagarde’s viewpoint to be right. These reasons are based in monetary policy theory, in the institutional framework of European Union, and in the current situation of the Italian economy.
The Limits of Monetary Policy
First, we need to understand that what Lagarde stated—that it is not her job to prevent government bonds’ prices in the European Monetary Union (EMU) from diverging—is absolutely correct from a technical perspective. Indeed, if we consider the theoretical approach to the role of the central bank as a lender of last resort as conceived by both Walter Bagehot and Henry Thornton (both recognized and respected even by mainstream neoclassical economists), we find that actually there should be no room for monetary policy to be influencing assets’ relative prices. In fact, the role of a central bank (i.e., of a lender of last resort in a fiat money and fractional reserve banking system) should be to grant liquidity to temporarily illiquid—but solvent, i.e., structurally sound—commercial banks. In no way should monetary policy be involved in steering (and messing with) asset prices—as has regrettably been occurring in the EMU since the beginning of QE in March 2015—since central banks’ interferences distort the natural market formation of prices, bringing about Cantillon effects and spurring both malinvestment and excessive risk taking (through generally lowering returns on assets and pushing savers to invest in riskier ones).
It is evident that the ECB has already been a hugely interventionist central bank; suffice it to mention that currently the ECB’s balance sheet is roughly 40 percent of the EMU’s GDP and that the European banking system is already flooded with €1.5 trillion in excessive reserves. Hence, it is also frankly hard to see how further room for monetary policy interference in a market capitalist economy could be justifiable—even conceding to hardened shortsighted Keynesians that the current coronavirus shock is a purely demand-side one, which it absolutely is not.
The Institutional Framework of the European Union
Here the argument is pretty simple and straightforward. First of all, we need to remember that EMU is a monetary union in which European national states retain fiscal sovereignty. The problem with such a framework is that Italian monetary nationalists, Keynesian and MMTer (modern monetary theory) pseudoeconomists, and national socialist politicians interpret this international deal as follows: “burdens should be shouldered together and addressed with a common tool (i.e., the currency we all share, the euro), whereas benefits should be enjoyed privately by member states.” Indeed, they do not see (or pretend not to see) that the only way—even under a Keynesian paradigm—whereby monetary policy could be helpful in such a crisis would be if the fiscal policy decision level were the same as the monetary policy one.
This is exactly why the current EMU’s institutional framework—developed in the unideal world we live in, i.e., with fiat money, fractional reserve, and Keynesian macroeconomics—already provides OMT (outright monetary transactions), that is, a safety net for those governments (such as the current Italian one) begging for a monetary policy shield to cover their debt costs. Obviously enough, however, given that the euro is the currency of all Europeans (and not only of Italians), the regulatory framework of OMT requires the applying state to sign a Memorandum of Understanding, which basically transfers its fiscal sovereignty at the European level. So, it is evident that the tool available to the Italian government in order to reduce its financing costs already exists and can be triggered whenever Italian politicians would like to do so.
The problem is that Italian politicians want to squander the dowry of every European (i.e., the euro, which would be inflated and/or whose massive unbalanced injection would cause price distortions) without agreeing to implement those fiscal and institutional reforms that by themselves would suffice to better their public finance lot and to reduce the funding cost of their debt. In other words, Italians want to be saved by the EU without being subject to any conditions. Secondly, we ought not to forget that the ECB has already helped Italian governments a lot: the Public Sector Purchasing Program, indeed, has so far (December 2019) bought roughly €370 billion in Italian bonds and €530 billion in German ones; however, German GDP is now (2019) almost twice as much as Italy’s—meaning that in terms of the proportion of government bond purchases to national GDP Italy has been hugely privileged (530/370 = 1.4) through disproportionate monetary policy support for its public debt funding cost.
The Current Situation of the Italian Economy
To put it bluntly, there is nothing monetary policy could do now for the Italian situation. Italy is a paramount example of a capital-consuming economy, where the investment level has plummeted (Figure 1) and labor productivity stagnates (Figure 2). Moreover, unfavorable demography (almost one Italian in four is older than 65) and decreasing natality (on average roughly half as many children as were born in the 1950s and ’60s are born annually) put further stress on the frail pension system—which has was very poorly devised in the 1970s and ’80s.
In other words, there exists no magic monetary or financial trick that can save Italy now: the only available path is to reduce pension expenditures (which are the second highest in proportion to GDP among Organisation for Economic Co-operation and Development (OECD) members, immediately after Greece’s) and employ these resources in healthcare and tax reductions. However, those are all policies that do not (or should not) at all concern a central banker, and they are exactly the policies that other European partners would request Italy to enact in order to apply for OMT.
Read More @ Mises.org


sgtreport--2020-04-27--Death Panel Ezekiel: “No Choice” But Mass Poverty and Death

by Kurt Nimmo , Another Day in the Empire : If several weeks of state-imposed house arrest and unemployment have maxed out your stress level , wait until you hear what the experts have in mind to “ mitigate ” a bad seasonal influenza .
Here is Dr. Ezekiel Emanuel , brother of Rahm , the former mayor Chicago and a Clintonite : Realistically , COVID-19 will be here for the next 18 months or more .
We will not be able to return to normalcy until we find a vaccine or effective medications , ” e said .
“ @ @ @ @ @ @ @ to hear .
How are people supposed to find work if this goes on in some form for a year and a half ?
Is all that economic pain worth trying to stop COVID-19 ?
The truth is we have no choice .
You may remember Mr. Emanuel .
He ’ s a “ bioethicist ” in favor of so-called death panels .
He advocated denying medical assistance to old folks who are not “ participating citizens , ” that is to say sickly retired elders no longer working and paying mandatory financial @ @ @ @ @ @ @ owners .
It probably shouldn ’ t be surprising a guy who believes dementia and elderly cancer patients must be left to die advocates a year and a half of a freeze-frame economy that will ultimately kill thousands , far more than a seasonal coronavirus .
Meanwhile , New York governor Andrew Cuomo believes those demonstrating in opposition to mandated confinement and enforced unemployment and eventual impoverishment and homelessness are crybabies .

by Kurt Nimmo, Another Day in the Empire:
A freeze-frame economy will ultimately kill thousands.
If several weeks of state-imposed house arrest and unemployment have maxed out your stress level, wait until you hear what the experts have in mind to “mitigate” a bad seasonal influenza.
Here is Dr. Ezekiel Emanuel, brother of Rahm, the former mayor Chicago and a Clintonite:
Realistically, COVID-19 will be here for the next 18 months or more. We will not be able to return to normalcy until we find a vaccine or effective medications,” e said. “I know that’s dreadful news to hear. How are people supposed to find work if this goes on in some form for a year and a half? Is all that economic pain worth trying to stop COVID-19? The truth is we have no choice.
You may remember Mr. Emanuel. He’s a “bioethicist” in favor of so-called death panels. He advocated denying medical assistance to old folks who are not “participating citizens,” that is to say sickly retired elders no longer working and paying mandatory financial tribute to the state and its corporate owners.
It probably shouldn’t be surprising a guy who believes dementia and elderly cancer patients must be left to die advocates a year and a half of a freeze-frame economy that will ultimately kill thousands, far more than a seasonal coronavirus.
Meanwhile, New York governor Andrew Cuomo believes those demonstrating in opposition to mandated confinement and enforced unemployment and eventual impoverishment and homelessness are crybabies.
Read More @ KurtNimmo.blog


sgtreport--2020-04-28--“We Are Moving Into The End-Game”: 27 Tankers Anchored Off California, Hundreds Off Singapore As Oil

“We Are Moving Into The End-Game”: 27 Tankers Anchored Off California, Hundreds Off Singapore As Oil Industry Shuts Down

Back in the late fall of 2014 , when Saudi Arabia broke up OPEC for the first time and unleashed a torrent of crude oil on the world despite the protests of its fellow cartel members , oil prices crashed as a result of what then seemed to be a “ calculated ” move by Riyadh which hoped to put US shale out of business amid a flawed gamble betting that shale breakeven prices were around $ 60-80 .
They , however , turned out to be much lower , which coupled with Saudi misreading of the willingness of junk @ @ @ @ @ @ @ producers , meant that despite a 3 years stretch of low oil prices , US shale emerged stronger than ever before , with the US eventually eclipsing both Saudi Arabia and Russia as the world ’ s biggest crude oil producer .
Fast forward to March 2020 , when Saudi Arabia doubled down in its attempt to crush shale , only to avoid angering long-time ally Donald Trump , the Crown Prince pretended that the latest flood of oil was an oil price war aimed at Moscow not Midland .
And this time @ @ @ @ @ @ @ of the global economic shutdown resulting from the coronavirus pandemic , the Saudis may have finally lucked out in the ongoing crusade against US oil , because as Bloomberg writes with “ negative oil prices , ships dawdling at sea with unwanted cargoes , and traders getting creative about where to stash oil ” , the next chapter in the oil crisis is now inevitable : “ great swathes of the petroleum industry are about to start shutting down.
” As the recent OPEC summit so vividly demonstrated , the marginal price of @ @ @ @ @ @ @ or cuts thereof ( such as the recently announced agreement by OPEC+ for a 9.7mmb/d output cut ) , but rather by demand , or the lack thereof , which according to some estimate is as much as 36mmb/d lower , or roughly a third of the global oil market every day , as billions of people are stuck at home instead of driving , while major corporations mothball production in a world where major economies have ground to a halt .
The economic impact of the coronavirus has ripped through the oil @ @ @ @ @ @ @ s Javier Blas writes .
First it destroyed demand as lockdowns shut factories and kept drivers at home .
Then storage started filling up and traders resorted to ocean-going tankers to store crude in the hope of better prices ahead .
Now shipping prices are surging to stratospheric levels as the industry runs out of tankers , a sign of just how distorted the market has become .
Ironically , in its latest attempt to kill off shale , Saudi Arabia may have gone a step too far , as “ the specter @ @ @ @ @ @ @ they will have on jobs , companies , their banks , and local economies – was one of the reasons that spurred world leaders to join forces to cut production in an orderly way .
But as the scale of the crisis dwarfed their efforts , failing to stop prices diving below zero last week , shut-downs are now a reality .
It ’ s the worst-case scenario for producers and refiners.
” In short , the entire oil production industry is shutting down , not because it wants to – of course @ @ @ @ @ @ @ .
According to Goldman , in as little as three weeks there will be literally no place left on earth to store oil , and unless oil producers want to pay “ buyers ” to hold the oil as happened on that historic date of April 20 , they have no choice but to shut in output .
“ We are moving into the end-game , ” said Torbjorn Tornqvist , head of commodity trading giant Gunvor Group .
“ Early-to-mid May could be the peak .
We are weeks , not months @ @ @ @ @ @ @ us back to why in 2020 Riyadh has succeeded where it failed in 2014 : as Bloomberg writes “ in theory , the first oil output cuts should have come from the OPEC+ alliance , which earlier this month agreed to reduce production from May 1 .
Yet after the catastrophic price plunge on Monday , when West Texas Intermediate fell to - $ 40 a barrel , it ’ s the U.S. shale patch that is leading ” The best indicator of how the shale industry is reacting is the sudden collapse @ @ @ @ @ @ @ operation , which last week fell to a four-year low : “ Before the coronavirus crisis hit , oil companies ran about 650 rigs in the US .
By Friday , more than 40 % of them had stopped working , with only 378 left.
” And while there is a delay between total US oil production and the rig count , it is now obvious that US production is set to collapse next :

from ZeroHedge:
Back in the late fall of 2014, when Saudi Arabia broke up OPEC for the first time and unleashed a torrent of crude oil on the world despite the protests of its fellow cartel members, oil prices crashed as a result of what then seemed to be a “calculated” move by Riyadh which hoped to put US shale out of business amid a flawed gamble betting that shale breakeven prices were around $60-80. They, however, turned out to be much lower, which coupled with Saudi misreading of the willingness of junk bond investors to keep funding US shale producers, meant that despite a 3 years stretch of low oil prices, US shale emerged stronger than ever before, with the US eventually eclipsing both Saudi Arabia and Russia as the world’s biggest crude oil producer.
Fast forward to March 2020, when Saudi Arabia doubled down in its attempt to crush shale, only to avoid angering long-time ally Donald Trump, the Crown Prince pretended that the latest flood of oil was an oil price war aimed at Moscow not Midland. And this time, unlike 2014, with the benefit of the global economic shutdown resulting from the coronavirus pandemic, the Saudis may have finally lucked out in the ongoing crusade against US oil, because as Bloomberg writes with “negative oil prices, ships dawdling at sea with unwanted cargoes, and traders getting creative about where to stash oil”, the next chapter in the oil crisis is now inevitable: “great swathes of the petroleum industry are about to start shutting down.”
As the recent OPEC summit so vividly demonstrated, the marginal price of oil is no longer determined by supply or cuts thereof (such as the recently announced agreement by OPEC+ for a 9.7mmb/d output cut), but rather by demand, or the lack thereof, which according to some estimate is as much as 36mmb/d lower, or roughly a third of the global oil market every day, as billions of people are stuck at home instead of driving, while major corporations mothball production in a world where major economies have ground to a halt.
The economic impact of the coronavirus has ripped through the oil industry in dramatic phases, Bloomberg’s Javier Blas writes. First it destroyed demand as lockdowns shut factories and kept drivers at home. Then storage started filling up and traders resorted to ocean-going tankers to store crude in the hope of better prices ahead.
Now shipping prices are surging to stratospheric levels as the industry runs out of tankers, a sign of just how distorted the market has become.
Ironically, in its latest attempt to kill off shale, Saudi Arabia may have gone a step too far, as “the specter of production shut-downs – and the impact they will have on jobs, companies, their banks, and local economies – was one of the reasons that spurred world leaders to join forces to cut production in an orderly way. But as the scale of the crisis dwarfed their efforts, failing to stop prices diving below zero last week, shut-downs are now a reality. It’s the worst-case scenario for producers and refiners.”
In short, the entire oil production industry is shutting down, not because it wants to – of course – but because it has no choice. According to Goldman, in as little as three weeks there will be literally no place left on earth to store oil, and unless oil producers want to pay “buyers” to hold the oil as happened on that historic date of April 20, they have no choice but to shut in output.
“We are moving into the end-game,” said Torbjorn Tornqvist, head of commodity trading giant Gunvor Group. “Early-to-mid May could be the peak. We are weeks, not months, away from it.”
Which brings us back to why in 2020 Riyadh has succeeded where it failed in 2014: as Bloomberg writes “in theory, the first oil output cuts should have come from the OPEC+ alliance, which earlier this month agreed to reduce production from May 1. Yet after the catastrophic price plunge on Monday, when West Texas Intermediate fell to -$40 a barrel, it’s the U.S. shale patch that is leading”
The best indicator of how the shale industry is reacting is the sudden collapse in the number of oil rigs in operation, which last week fell to a four-year low: “Before the coronavirus crisis hit, oil companies ran about 650 rigs in the US. By Friday, more than 40% of them had stopped working, with only 378 left.”
And while there is a delay between total US oil production and the rig count, it is now obvious that US production is set to collapse next:
Read More @ ZeroHedge.com


sgtreport--2020-05-08--BREAKING: Court Documents from 1996 Reveal Tara Reade Told Ex-Husband About Sexual Harassment By Joe

BREAKING: Court Documents from 1996 Reveal Tara Reade Told Ex-Husband About Sexual Harassment By Joe Biden #MeToo

Court documents from 1996 reveal that Tara Reade told her ex-husband about Joe Biden sexually harassing her when she worked in his senate office in 1993 .
Reade claims that Biden penetrated her with his fingers and kissed her without her consent in his senate office .
According to a report from The Tribune in San Luis Obispo , the declaration by Reade ’ s then-husband Theodore Dronen does not say Biden committed the harassment nor does it mention her allegations of sexual assault , but it does say Reade told him about “ a problem she was having at @ @ @ @ @ @ @ .
Senator Joe Biden ’ s office.
” Dronen wrote that Reade told him she “ eventually struck a deal with the chief of staff of the Senator ’ s office and left her position.
” A former neighbor has also went public declaring that Reade told her about the sexual assault in 1995 .
Dronen ’ s declaration is part of a response to a restraining order Reade filed against him days after he filed for divorce .
“ The affidavit from Ms. Reade ’ s ex-husband is further support that Ms. @ @ @ @ @ @ @ by then Senator Joe Biden , ” Reade ’ s New York-based attorney , Douglas Wigdor said in a statement to the newspaper .
“ Ms .
Reade ’ s account of what happened will shortly be aired in an interview by Megyn Kelly and I am confident that the American public will see her genuine veracity.
” Dronen , who still lives in San Luis Obispo County , confirmed to the paper that he wrote the declaration .

by Cassandra Fairbanks, The Gateway Pundit:
Court documents from 1996 reveal that Tara Reade told her ex-husband about Joe Biden sexually harassing her when she worked in his senate office in 1993.
Reade claims that Biden penetrated her with his fingers and kissed her without her consent in his senate office.
According to a report from The Tribune in San Luis Obispo, the declaration by Reade’s then-husband Theodore Dronen does not say Biden committed the harassment nor does it mention her allegations of sexual assault, but it does say Reade told him about “a problem she was having at work regarding sexual harassment, in U.S. Senator Joe Biden’s office.”Dronen wrote that Reade told him she “eventually struck a deal with the chief of staff of the Senator’s office and left her position.”
“It was obvious that this event had a very traumatic effect on (Reade), and that she is still sensitive and effected (sic) by it today,” Dronen wrote.
A former neighbor has also went public declaring that Reade told her about the sexual assault in 1995.
Dronen’s declaration is part of a response to a restraining order Reade filed against him days after he filed for divorce.
“The affidavit from Ms. Reade’s ex-husband is further support that Ms. Reade was sexually assaulted and sexually harassed by then Senator Joe Biden,” Reade’s New York-based attorney, Douglas Wigdor said in a statement to the newspaper. “Ms. Reade’s account of what happened will shortly be aired in an interview by Megyn Kelly and I am confident that the American public will see her genuine veracity.”
Dronen, who still lives in San Luis Obispo County, confirmed to the paper that he wrote the declaration.
Read More @ TheGatewayPundit.com


sgtreport--2020-05-11--THIS CRIMINAL SYSTEM JUST TOOK ANOTHER LIFE. Rest in peace Matt.

To contribute to Bianca and her 14-year old daughter , her Paypal address is Bianca198 @ yahoo.com

from SGTreport:
To contribute to Bianca and her 14-year old daughter, her Paypal address is Bianca198@yahoo.com
https://www.youtube.com/watch?v=SHY0b1KBihE&feature=youtu.be


sgtreport--2020-05-12--Transcripts Prove Trump-Russia Investigation ‘Was All Phony the Whole Time’ Says Devin Nunes

In the past week , transcripts of House Intelligence Committee testimony from various Obama officials proved that they had no evidentiary basis for investigating alleged Trump-Russia collusion .
Rep. Devin Nunes says this proved that the investigation was phony “ the whole time.
” “ We had a strategy here that we wanted to get every single person that we interviewed , to say whether or not they knew of any evidence of collusion , coordination or conspiracy between the Trump campaign and the Russians , ” Nunes said Sunday morning on Fox News ’ Sunday Morning Futures with anchor @ @ @ @ @ @ @ you will see is that we ’ ve been asked questions about hearsay .
Did they hear anything ?
Do they know anything ?
Do they have any leads for us whatsoever ?
And the answer was always the same .
Nothing.
” “ I think that ’ s the real revelation for the American people , is they were using their own Russian dirt to ask questions , ” Nunes added .
“ And it was all fake .
It was all phony the whole time.
” At least one former Obama @ @ @ @ @ @ @ that she new of evidence proving collusion , but later admitted under oath she did not .
Declassified documents have also revealed other bombshells this week , including the fact that Barack Obama was knowledgeable of , perhaps directly involved in , the efforts to railroad former Trump national security adviser Michael Flynn .
Attorney General Barr suggested that former FBI director James Comey orchestrated the perjury trap for Flynn .
“ [ The FBI ] had started a counterintelligence investigation during the summer , as you know , related to the campaign @ @ @ @ @ @ @ , the Crossfire Hurricane team , was closing that and determined they had found nothing to justify continuing with that investigation against Flynn.
” “ On the very day they prepared the final papers , the seventh floor , that is the director ’ s office and the deputy director ’ s office up there sent down word they should keep that open , so that they could try to go and question Flynn about this call he had with the Russian ambassador , ” Barr continued .
Following the release of these @ @ @ @ @ @ @ the Obama administration for their attempted coup .
“ It was a very dangerous situation what they did , ” he said .
“ These are dirty politicians and dirty cops and some horrible people and hopefully they ’ re going to pay a big price in the not too distant future .
”

by Matt Margolis, PJ Media:
In the past week, transcripts of House Intelligence Committee testimony from various Obama officials proved that they had no evidentiary basis for investigating alleged Trump-Russia collusion. Rep. Devin Nunes says this proved that the investigation was phony “the whole time.”
“We had a strategy here that we wanted to get every single person that we interviewed, to say whether or not they knew of any evidence of collusion, coordination or conspiracy between the Trump campaign and the Russians,” Nunes said Sunday morning on Fox News’ Sunday Morning Futures with anchor Maria Bartiromo. “Furthermore, what you will see is that we’ve been asked questions about hearsay. Did they hear anything? Do they know anything? Do they have any leads for us whatsoever? And the answer was always the same. Nothing.”
“I think that’s the real revelation for the American people, is they were using their own Russian dirt to ask questions,” Nunes added. “And it was all fake. It was all phony the whole time.”
At least one former Obama official, Evelyn Farkas, publicly claimed that she new of evidence proving collusion, but later admitted under oath she did not.
Declassified documents have also revealed other bombshells this week, including the fact that Barack Obama was knowledgeable of, perhaps directly involved in, the efforts to railroad former Trump national security adviser Michael Flynn.
Attorney General Barr suggested that former FBI director James Comey orchestrated the perjury trap for Flynn. “[The FBI] had started a counterintelligence investigation during the summer, as you know, related to the campaign. But in December, the team, the Crossfire Hurricane team, was closing that and determined they had found nothing to justify continuing with that investigation against Flynn.”
“On the very day they prepared the final papers, the seventh floor, that is the director’s office and the deputy director’s office up there sent down word they should keep that open, so that they could try to go and question Flynn about this call he had with the Russian ambassador,” Barr continued.
Following the release of these transcripts and documents, President Trump blasted the Obama administration for their attempted coup. “It was a very dangerous situation what they did,” he said. “These are dirty politicians and dirty cops and some horrible people and hopefully they’re going to pay a big price in the not too distant future.”
Read More @ PJMedia.com


sgtreport--2020-05-21--UN says ‘husband’ & ‘wife’ are now politically incorrect terms – but why is it allowed to serve as t

UN says ‘husband’ & ‘wife’ are now politically incorrect terms – but why is it allowed to serve as thought police?

As millions of married couples around the world are feeling the strain of being holed up together due to the pandemic , the United Nations decided it ’ s a great time to remove the words “ husband ” and “ wife ” from our vernacular .
On Monday afternoon , the agency ’ s crack social media team tweeted out : “ Help create a more equal world by using gender-neutral language if you ’ re unsure about someone ’ s gender or are referring to a group.
” What followed was a list of dos and don ’ @ @ @ @ @ @ @ well-known , like replacing “ manpower ” with “ workforce ” and “ salesman ” with “ salesperson.
” Fine , we get it .
But the agency also snuck in a couple of new additions that raised some eyebrows , if not fists , by demanding that the terms “ husband ” and “ wife , ” which have worked fine for centuries , be substituted with the gender-less generic term “ spouse.
” “ Boyfriend ” and “ girlfriend , ” meanwhile , were not spared from the grammar culling either @ @ @ @ @ @ @ the preferred term .
Some people may be wondering , as this author was – why all the fuss at a time like this ?
Are liberals simply striving to make themselves worthy of the expressionless grey “ Wojak ” meme that the alt-right has ascribed to them ?
Or is there something more to this latest plunge into the deep end of insanity ?
After all , there is no “ man , ” no “ toxic masculinity ” lurking in the term “ husband ” that should trigger even the more @ @ @ @ @ @ @ husband ” derives from the Old Norse husbondi , which translates literally as “ house-dweller.
” Not the most oppressive-sounding thing in the world .
However , even if we go with the less politically correct origins of the word , with “ master of the house ” as one of them , the word “ husband ” has been around for so long that any male-dominant connotations have long since vanished .
As for the word “ wife , ” this is believed to come from the Old English “ wif ” @ @ @ @ @ @ @ female , lady.
” Again , as with the term “ husband , ” the etymological roots of “ wife ” reveal very little that should trigger the virtue-signaling crowd .

from RT:
As millions of married couples around the world are feeling the strain of being holed up together due to the pandemic, the United Nations decided it’s a great time to remove the words “husband” and “wife” from our vernacular.
In case anyone thought that the social justice warriors would take a much-needed hiatus from their crusading against wrong-think, especially at the height of a pandemic, think again. This week, UN bureaucrats found clever new ways to divide and alienate the global population at a time when social-distancing rules have already turned people into strangers.
On Monday afternoon, the agency’s crack social media team tweeted out: “Help create a more equal world by using gender-neutral language if you’re unsure about someone’s gender or are referring to a group.”
What followed was a list of dos and don’ts, many of which are already well-known, like replacing “manpower” with “workforce” and “salesman” with “salesperson.” Fine, we get it. But the agency also snuck in a couple of new additions that raised some eyebrows, if not fists, by demanding that the terms “husband” and “wife,” which have worked fine for centuries, be substituted with the gender-less generic term “spouse.”
“Boyfriend” and “girlfriend,” meanwhile, were not spared from the grammar culling either, with “partner” now being the preferred term.
What you say matters. Help create a more equal world by using gender-neutral language if you’re unsure about someone’s gender or are referring to a group. https://t.co/QQRFPY4VRn #GenerationEquality via@UN_Women pic.twitter.com/koxoAZZuxq — United Nations (@UN) May 18, 2020
Some people may be wondering, as this author was – why all the fuss at a time like this? Are liberals simply striving to make themselves worthy of the expressionless grey “Wojak” meme that the alt-right has ascribed to them? Or is there something more to this latest plunge into the deep end of insanity? After all, there is no “man,” no “toxic masculinity” lurking in the term “husband” that should trigger even the more virtuous among us.
The word “husband” derives from the Old Norse husbondi, which translates literally as “house-dweller.” Not the most oppressive-sounding thing in the world. However, even if we go with the less politically correct origins of the word, with “master of the house” as one of them, the word “husband” has been around for so long that any male-dominant connotations have long since vanished.
As for the word “wife,” this is believed to come from the Old English “wif”, which simply means “woman, female, lady.” Again, as with the term “husband,” the etymological roots of “wife” reveal very little that should trigger the virtue-signaling crowd.
Read More @ RT.com


sgtreport--2020-05-22--CHINA VS USA: CHINA CRACKS DOWN HARD ON HONG KONG AND TRUMP

JUNE GOLD : $ 1723.20 CLOSE 1.30 PM// SPREAD SPOT ( LONDON ) VS/FUTURE JUNE : $ 0.//PREMIUMS WENT UP AGAIN SILVER JUNE COMEX CLOSE ; $ 17.32…1:30 PM.//SPREAD SPOT/ ( LONDON ) VS FUTURE JUNE : 31 CENTS PER OZ//PREMIUMS UP AGAIN//HUGE DIFFERENCE the gold market continues to be broken as future prices are much higher than spot prices .
The comex is desperate to fix things but they have no available gold .
If one is to buy gold and or gold coins , the price is around $ 2800 .
usa per oz LADIES AND GENTLEMEN : @ @ @ @ @ @ @ DIFFERENCE BETWEEN PAPER GOLD/SILVER AND THE REAL PHYSICAL STUFF !
!
DO NOT PAY ANY ATTENTION TO WHAT THE CROOKS ARE DOING AT THE COMEX AND LONDON LBMA..PHYSICAL IS THE NAME OF THE GAME AND NOTHING ELSE JPMorgan has been receiving gold with reckless abandon and sometimes supplying ( stopping ) EXCHANGE : COMEX CONTRACT : MAY 2020 COMEX 100 GOLD FUTURES SETTLEMENT : 1,750.600000000 USD INTENT DATE : 05/20/2020 DELIVERY DATE : 05/22/2020 FIRM ORG FIRM NAME ISSUED STOPPED ____________________________________________________________________________________________ 118 H MACQUARIE FUT 6 661 C JP MORGAN 1 690 C @ @ @ @ @ @ @ 2 800 C MAREX SPEC 7 ____________________________________________________________________________________________

Closing access prices: London spot
JUNE GOLD: $1723.20 CLOSE 1.30 PM// SPREAD SPOT (LONDON) VS/FUTURE JUNE: $0.//PREMIUMS WENT UP AGAIN
SILVER JUNE COMEX CLOSE; $17.32…1:30 PM.//SPREAD SPOT/(LONDON) VS FUTURE JUNE: 31 CENTS PER OZ//PREMIUMS UP AGAIN//HUGE DIFFERENCE
JULY: 1:30 PM: $1738//1:30 PM //SPREAD SPOT LONDON VS FUTURE JULY: 38 CENTS PER OZ//
the gold market continues to be broken as future prices are much higher than spot prices. The comex is desperate to fix things but they have no available gold.
If one is to buy gold and or gold coins, the price is around $2800. usa per oz
and silver; $31.00 per oz//
LADIES AND GENTLEMEN: YOU ARE NOW WITNESSING FIRST HAND THE DIFFERENCE BETWEEN PAPER GOLD/SILVER AND THE REAL PHYSICAL STUFF!!
DO NOT PAY ANY ATTENTION TO WHAT THE CROOKS ARE DOING AT THE COMEX AND LONDON LBMA..PHYSICAL IS THE NAME OF THE GAME AND NOTHING ELSE
COMEX DATA
JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)
today RECEIVING: 1/13
EXCHANGE: COMEX
CONTRACT: MAY 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,750.600000000 USD
INTENT DATE: 05/20/2020 DELIVERY DATE: 05/22/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
118 H MACQUARIE FUT 6
661 C JP MORGAN 1
690 C ABN AMRO 4
737 C ADVANTAGE 6 2
800 C MAREX SPEC 7
____________________________________________________________________________________________
TOTAL: 13 13
MONTH TO DATE: 9,822


sgtreport--2020-05-22--Do We Need The State?

Do We Need The State?

Rousseau was perhaps the first to popularize the fiction now taught in civics classes about how government was created .
It holds that men sat down together and rationally thought out the concept of government as a solution to problems that confronted them .
The government of the United States was , however , the first to be formed in any way remotely like Rousseau ’ s ideal .
Even then , it had far from universal support from the three million colonials whom it claimed to represent .
The U.S. government , after all , grew out of an @ @ @ @ @ @ @ existing government .
There ’ s no question that the result was , by an order of magnitude , the best blueprint for a government that had yet been conceived .
Most of America ’ s Founding Fathers believed the main purpose of government was to protect its subjects from the initiation of violence from any source ; government itself prominently included .
That made the U.S. government almost unique in history .
And it was that concept – not natural resources , the ethnic composition of American immigrants , or luck – @ @ @ @ @ @ @ became .
The origin of government itself , however , was nothing like Rousseau ’ s fable or the origin of the United States Constitution .
The most realistic scenario for the origin of government is a roving group of bandits deciding that life would be easier if they settled down in a particular locale , and simply taxing the residents for a fixed percentage ( rather like “ protection money ” ) instead of periodically sweeping through and carrying off all they could get away with .
It ’ s no accident @ @ @ @ @ @ @ backgrounds .
Royalty are really nothing more than successful marauders who have buried the origins of their wealth in romance .
Romanticizing government , making it seem like Camelot , populated by brave knights and benevolent kings , painting it as noble and ennobling , helps people to accept its jurisdiction .
But , like most things , government is shaped by its origins .
Author Rick Maybury may have said it best in Whatever Happened to Justice ?
, “ A castle was not so much a plush palace as the headquarters @ @ @ @ @ @ @ , called feudal kingdoms , were established by conquering barbarians who ’ d enslaved the local people .
When you see one , ask to see not just the stately halls and bedrooms , but the dungeons and torture chambers .
“ A castle was a hangout for silk-clad gangsters who were stealing from helpless workers .
The king was the ‘ lord ’ who had control of the blackjack ; he claimed a special ‘ divine right ’ to use force on the innocent .
“ Fantasies about handsome princes and beautiful @ @ @ @ @ @ @ truth .
They give children the impression political power is wonderful stuff.
” Is The State Necessary ?
The violent and corrupt nature of government is widely acknowledged by almost everyone .
That ’ s been true since time immemorial , as have political satire and grousing about politicians .
Yet almost everyone turns a blind eye ; most not only put up with it , but actively support the charade .
That ’ s because , although many may believe government to be an evil , they believe it is a necessary @ @ @ @ @ @ @ anything that is evil is necessary , or whether anything that is necessary can be evil , is worth discussing , but this isn ’ t the forum ) .
What ( arguably ) makes government necessary is the need for protection from other , even more dangerous , governments .
I believe a case can be made that modern technology obviates this function .
One of the most perversely misleading myths about government is that it promotes order within its own bailiwick , keeps groups from constantly warring with each other , @ @ @ @ @ @ @ In fact , that ’ s the exact opposite of the truth .
There ’ s no cosmic imperative for different people to rise up against one another…unless they ’ re organized into political groups .
The Middle East , now the world ’ s most fertile breeding ground for hatred , provides an excellent example .
Muslims , Christians , and Jews lived together peaceably in Palestine , Lebanon , and North Africa for centuries until the situation became politicized after World War I .
Until then , an individual ’ s @ @ @ @ @ @ @ , not a casus belli .
Government was at its most benign , an ineffectual nuisance that concerned itself mostly with extorting taxes .
People were busy with that most harmless of activities : making money .
But politics do not deal with people as individuals .
It scoops them up into parties and nations .
And some group inevitably winds up using the power of the state ( however “ innocently ” or “ justly ” at first ) to impose its values and wishes on others with predictably destructive results .
@ @ @ @ @ @ @ of humanity then sorts itself out according to the lowest common denominator peculiar to the time and place .

by Chris Menahan, Information Liberation:
Rousseau was perhaps the first to popularize the fiction now taught in civics classes about how government was created. It holds that men sat down together and rationally thought out the concept of government as a solution to problems that confronted them. The government of the United States was, however, the first to be formed in any way remotely like Rousseau’s ideal. Even then, it had far from universal support from the three million colonials whom it claimed to represent. The U.S. government, after all, grew out of an illegal conspiracy to overthrow and replace the existing government.
There’s no question that the result was, by an order of magnitude, the best blueprint for a government that had yet been conceived. Most of America’s Founding Fathers believed the main purpose of government was to protect its subjects from the initiation of violence from any source; government itself prominently included. That made the U.S. government almost unique in history. And it was that concept – not natural resources, the ethnic composition of American immigrants, or luck – that turned America into the paragon it became.
The origin of government itself, however, was nothing like Rousseau’s fable or the origin of the United States Constitution. The most realistic scenario for the origin of government is a roving group of bandits deciding that life would be easier if they settled down in a particular locale, and simply taxing the residents for a fixed percentage (rather like “protection money”) instead of periodically sweeping through and carrying off all they could get away with. It’s no accident that the ruling classes everywhere have martial backgrounds. Royalty are really nothing more than successful marauders who have buried the origins of their wealth in romance.
Romanticizing government, making it seem like Camelot, populated by brave knights and benevolent kings, painting it as noble and ennobling, helps people to accept its jurisdiction. But, like most things, government is shaped by its origins. Author Rick Maybury may have said it best in Whatever Happened to Justice?,
“A castle was not so much a plush palace as the headquarters for a concentration camp. These camps, called feudal kingdoms, were established by conquering barbarians who’d enslaved the local people. When you see one, ask to see not just the stately halls and bedrooms, but the dungeons and torture chambers.
“A castle was a hangout for silk-clad gangsters who were stealing from helpless workers. The king was the ‘lord’ who had control of the blackjack; he claimed a special ‘divine right’ to use force on the innocent.
“Fantasies about handsome princes and beautiful princesses are dangerous; they whitewash the truth. They give children the impression political power is wonderful stuff.”
Is The State Necessary?
The violent and corrupt nature of government is widely acknowledged by almost everyone. That’s been true since time immemorial, as have political satire and grousing about politicians. Yet almost everyone turns a blind eye; most not only put up with it, but actively support the charade. That’s because, although many may believe government to be an evil, they believe it is a necessary evil (the larger question of whether anything that is evil is necessary, or whether anything that is necessary can be evil, is worth discussing, but this isn’t the forum).
What (arguably) makes government necessary is the need for protection from other, even more dangerous, governments. I believe a case can be made that modern technology obviates this function.
One of the most perversely misleading myths about government is that it promotes order within its own bailiwick, keeps groups from constantly warring with each other, and somehow creates togetherness and harmony. In fact, that’s the exact opposite of the truth. There’s no cosmic imperative for different people to rise up against one another…unless they’re organized into political groups. The Middle East, now the world’s most fertile breeding ground for hatred, provides an excellent example.
Muslims, Christians, and Jews lived together peaceably in Palestine, Lebanon, and North Africa for centuries until the situation became politicized after World War I. Until then, an individual’s background and beliefs were just personal attributes, not a casus belli. Government was at its most benign, an ineffectual nuisance that concerned itself mostly with extorting taxes. People were busy with that most harmless of activities: making money.
But politics do not deal with people as individuals. It scoops them up into parties and nations. And some group inevitably winds up using the power of the state (however “innocently” or “justly” at first) to impose its values and wishes on others with predictably destructive results. What would otherwise be an interesting kaleidoscope of humanity then sorts itself out according to the lowest common denominator peculiar to the time and place.
Read More @ InformationLiberation.com


sgtreport--2020-05-27--The Weekly Perspective with David Morgan – American Billionaires Got Richer During Pandemic

America ’ s billionaires saw their fortunes soar by $ 434 billion during the U.S. lockdown between mid-March and mid-May @ @ @ @ @ report .
Today ’ s monetary system is based upon a lie .
The lie @ @ @ @ @ something for nothing , or perhaps more simply stated , wealth can be printed .
@ @ @ @ @ years that whenever a country has tried to maintain this illusion ( lie ) , @ @ @ @ @ .
You can continue to grow your wealth regardless of the changing winds of politics @ @ @ @ @ financial markets .
Let me show you how…

by Kerry Lutz, Financial Survival Network:
David Morgan‘s weekly perspective…
America’s billionaires saw their fortunes soar by $434 billion during the U.S. lockdown between mid-March and mid-May, according to a new report.
Today’s monetary system is based upon a lie. The lie is that you can get something for nothing, or perhaps more simply stated, wealth can be printed. History has shown throughout 5000 years that whenever a country has tried to maintain this illusion (lie), failure has been the result. You can continue to grow your wealth regardless of the changing winds of politics, the economy and the financial markets. Let me show you how…
Click HERE to Listen


sgtreport--2020-06-05--BREAKING: Antifa terrorists to be bused to Sparta, Illinois with orders to burn farm houses and kill

BREAKING: Antifa terrorists to be bused to Sparta, Illinois with orders to burn farm houses and kill livestock in rural “white” areas

Today Natural News has learned that Antifa operatives are organizing a plan to bus large numbers of Antifa terrorists to the vicinity of Sparta , Illinois , where they will be directed to target rural white Americans by burning farm houses and killing livestock .
The purpose of the attack , according to sources , is so that Antifa can send a message to white America that “ not even rural whites are safe ” from the reach of Antifa , and that if their radical left-wing demands are not yet , all of America will burn ( not just @ @ @ @ @ @ @ News that Antifa terrorists are currently expected to move along state routes 154 and 4 , seeking out rural targets including isolated homes and farms to cause maximum mayhem and property destruction .
Although our sources did not specifically mention the methods by which killing livestock would be accomplished , it seems almost certain that firearms would be the most effective way for Antifa terrorists to achieve that morbid goal .
Note : Facebook will not allow you to share this story from NaturalNews.com , as Facebook has blacklisted this entire website in @ @ @ @ @ @ @ and other criminals operating in America .
To share this story , look for it on Trump.news and share from there .
Note it is possible that Antifa may alter its planned routes of destruction based on the appearance of this report .
Although our sources are highly reliable individuals , the information / disinformation warfare tactics of Antifa are incredibly advanced , and part of the Art of War is to make your enemy think you ’ re in one place while you ’ re actually attacking another .
We are told @ @ @ @ @ @ @ “ this coming weekend , ” which could indicate Friday , Saturday or Sunday night .
Today we are urging the citizens of Sparta to prepare for the possibility of Antifa terrorism activities in their area .
We are especially urging individuals who have houses located near the major highways to be on alert for attempted arson , property destruction , shootings or the killing of livestock .
Sparta , Illinois is a small town of just 4,300 people according to the 2010 census .
It is located in Randolph County and is @ @ @ @ @ @ @ , the regional home of the Ferguson , Missouri riots of 2014 .
Rural towns around Sparta include Blair , Tilden , Coulterville , Baldwin , Cutler , Willisville , Bremen and Chester .
Illinois , dominate by anti-gun Democrats , is a state where citizens are not allowed to defend themselves with firearms .
This is likely why Antifa is targeting Illinois for the kind of destruction that would be immediately halted by a barrage of return gunfire in states like Texas , Florida or Tennessee .
In Illinois , Antifa terrorists @ @ @ @ @ @ @ unarmed civilians who have been forcibly disarmed by the corrupt anti-Second Amendment politicians in Chicago .
By turning Illinois into a gun-free zone , Chicago lawmakers have transformed the state into a shooting gallery for Antifa terrorists .
We encourage all law enforcement in Randolph County to be on high alert this coming weekend .
This will not be your normal weekend of dragging overdosed methed-up , heroin-addicted white boys to the emergency rooms in Chester and Waterloo .
This is going to be something on an entirely different level , if Antifa @ @ @ @ @ @ @ Antifa has been labeled a terrorist organization by President Trump , and the actions of Antifa — property destruction , arson , looting , attempted murder of police officers and extreme violence toward innocent people — reveals the terrorism goals of the radical left-wing organization .
With this tactic of moving into rural America , Antifa seems to be deciding that burning down left-wing cities isn ’ t having the fear effect they hope to achieve .
For many nights , Antifa groups have been threatening to fan out to the suburbs and @ @ @ @ @ @ @ , it seems they are planning to expand into rural America , at least in “ gun-free ” areas where the citizens can ’ t shoot back .
Targeting infrastructure is the next escalation of Antifa terrorists Over the last 10 days , Natural News has learned from multiple intelligence sources that Antifa ’ s next escalation will target U.S. infrastructure such as water , power and telecommunications .
Although not specifically mentioned by our sources in Illinois , we anticipate a very high probability that Antifa terrorists , if they carry out @ @ @ @ @ @ @ surrounding Sparta , will likely target water towers with gunfire .
Water towers can be very easily destroyed with gunfire , as bullet holes can often cause structural instability , leading to catastrophic collapse of the containment structure .
Even when bullets don ’ t achieve the total destruction of the tower , bullets are rapidly stopped by the water inside the tower , causing those bullets — usually made out of lead — to saturate the water with lead , a toxic heavy metal .
( Even high-velocity rifle rounds barely penetrate @ @ @ @ @ @ @ ) This means that Antifa has a readily available means to poison the water supplies of rural towns in Illinois and elsewhere , while causing high repair costs for local infrastructure .
As we have repeatedly warned in previous articles , much of America ’ s infrastructure is shockingly vulnerable to bad faith actors and terrorists who are willing to cause mass poisonings , mayhem and destruction in order to achieve their twisted political goals ( which , in this case , are the rise of communism and the total genocide against whites @ @ @ @ @ @ @ Big Tech industry seems to openly support ) .

by Mike Adams, Natural News:
Today Natural News has learned that Antifa operatives are organizing a plan to bus large numbers of Antifa terrorists to the vicinity of Sparta, Illinois, where they will be directed to target rural white Americans by burning farm houses and killing livestock. The purpose of the attack, according to sources, is so that Antifa can send a message to white America that “not even rural whites are safe” from the reach of Antifa, and that if their radical left-wing demands are not yet, all of America will burn (not just the cities).
Sources tell Natural News that Antifa terrorists are currently expected to move along state routes 154 and 4, seeking out rural targets including isolated homes and farms to cause maximum mayhem and property destruction. Although our sources did not specifically mention the methods by which killing livestock would be accomplished, it seems almost certain that firearms would be the most effective way for Antifa terrorists to achieve that morbid goal.
Note: Facebook will not allow you to share this story from NaturalNews.com, as Facebook has blacklisted this entire website in order to censor reporting that exposes Antifa and other criminals operating in America. To share this story, look for it on Trump.news and share from there.
Note it is possible that Antifa may alter its planned routes of destruction based on the appearance of this report. Although our sources are highly reliable individuals, the information / disinformation warfare tactics of Antifa are incredibly advanced, and part of the Art of War is to make your enemy think you’re in one place while you’re actually attacking another.
We are told that the timing of this attack is “this coming weekend,” which could indicate Friday, Saturday or Sunday night. Today we are urging the citizens of Sparta to prepare for the possibility of Antifa terrorism activities in their area. We are especially urging individuals who have houses located near the major highways to be on alert for attempted arson, property destruction, shootings or the killing of livestock.
About Sparta, Illinois
Sparta, Illinois is a small town of just 4,300 people according to the 2010 census. It is located in Randolph County and is roughly 45 miles southeast of St. Louis, the regional home of the Ferguson, Missouri riots of 2014. Rural towns around Sparta include Blair, Tilden, Coulterville, Baldwin, Cutler, Willisville, Bremen and Chester.
Illinois, dominate by anti-gun Democrats, is a state where citizens are not allowed to defend themselves with firearms. This is likely why Antifa is targeting Illinois for the kind of destruction that would be immediately halted by a barrage of return gunfire in states like Texas, Florida or Tennessee. In Illinois, Antifa terrorists practically have their own shooting gallery of unarmed civilians who have been forcibly disarmed by the corrupt anti-Second Amendment politicians in Chicago.
By turning Illinois into a gun-free zone, Chicago lawmakers have transformed the state into a shooting gallery for Antifa terrorists.
We encourage all law enforcement in Randolph County to be on high alert this coming weekend. This will not be your normal weekend of dragging overdosed methed-up, heroin-addicted white boys to the emergency rooms in Chester and Waterloo. This is going to be something on an entirely different level, if Antifa makes good on its current plans.
Antifa has been labeled a terrorist organization by President Trump, and the actions of Antifa — property destruction, arson, looting, attempted murder of police officers and extreme violence toward innocent people — reveals the terrorism goals of the radical left-wing organization. With this tactic of moving into rural America, Antifa seems to be deciding that burning down left-wing cities isn’t having the fear effect they hope to achieve. For many nights, Antifa groups have been threatening to fan out to the suburbs and start targeting “white America.”
Now, it seems they are planning to expand into rural America, at least in “gun-free” areas where the citizens can’t shoot back.
Targeting infrastructure is the next escalation of Antifa terrorists
Over the last 10 days, Natural News has learned from multiple intelligence sources that Antifa’s next escalation will target U.S. infrastructure such as water, power and telecommunications. Although not specifically mentioned by our sources in Illinois, we anticipate a very high probability that Antifa terrorists, if they carry out their planned mayhem in the rural areas surrounding Sparta, will likely target water towers with gunfire.
Water towers can be very easily destroyed with gunfire, as bullet holes can often cause structural instability, leading to catastrophic collapse of the containment structure. Even when bullets don’t achieve the total destruction of the tower, bullets are rapidly stopped by the water inside the tower, causing those bullets — usually made out of lead — to saturate the water with lead, a toxic heavy metal. (Even high-velocity rifle rounds barely penetrate more than 3 feet into water.)
This means that Antifa has a readily available means to poison the water supplies of rural towns in Illinois and elsewhere, while causing high repair costs for local infrastructure.
As we have repeatedly warned in previous articles, much of America’s infrastructure is shockingly vulnerable to bad faith actors and terrorists who are willing to cause mass poisonings, mayhem and destruction in order to achieve their twisted political goals (which, in this case, are the rise of communism and the total genocide against whites, a goal that most of the Big Tech industry seems to openly support).
Read More @ NaturalNews.com


Last week , Donald Trump announced that the United States would put an end to its relationship with the World Health Organization following his criticisms over the agency ’ s handling of the coronavirus outbreak .
The country will now redirect all its WHO funding to other health needs worldwide .
The Bill & Melinda Gates Foundation co-founded by the former Microsoft CEO is set to become the World Health Organization largest donor if the United States fully withdraws its funding from the agency .
The suggestion was first made by the Devex media platform , which analysed the list @ @ @ @ @ @ @ 2018-2019 , both intergovernmental and private .
In the last two years the Gates foundation provided 12.12 % of WHO ’ s budget , or $ 530.9 million , becoming the second-largest contributor behind the US , which endowed the agency with $ 893 million during those years .
The WHO currently receives funding from its member state organisations and nongovernmental donors .
While the states ’ funding met through specified quotas is fully flexible and discretionary , any extra money given by governments or private organisations does not need to be flexible @ @ @ @ @ @ @ use in specific areas .
In this Feb. 1 , 2019 , Bill and Melinda Gates look toward each other and smile while being interviewed in Kirkland , Wash .
The couple , whose foundation has the largest endowment in the world , are pushing back against a new wave of criticism about whether billionaire philanthropy is a force for good At the end of May , the organisation announced that it was seeking to create its own foundation to attract more funding from nongovernmental donors in a sustainable and predictable manner .
@ @ @ @ @ @ @ the absence of much flexibility in spending constitutes “ one of the greatest threats ” to the organisation ’ s success , as “ less than 20 % of our budget comes in the form of flexible assessed contributions from member states ” .
Shortly after that announcement , Donald Trump declared that the United States would sever all ties with the WHO , and the country ’ s contributions to the organisation would all be redirected to “ other bodies ” .

from Sputnik News:
Last week, Donald Trump announced that the United States would put an end to its relationship with the World Health Organization following his criticisms over the agency’s handling of the coronavirus outbreak. The country will now redirect all its WHO funding to other health needs worldwide.
The Bill & Melinda Gates Foundation co-founded by the former Microsoft CEO is set to become the World Health Organization largest donor if the United States fully withdraws its funding from the agency. The suggestion was first made by the Devex media platform, which analysed the list of the organisation’s contributors in 2018-2019, both intergovernmental and private.
In the last two years the Gates foundation provided 12.12% of WHO’s budget, or $530.9 million, becoming the second-largest contributor behind the US, which endowed the agency with $893 million during those years.
“If a private foundation were to become WHO’s highest donor, it would be transformational”, the director of WHO’s Collaborating Center on National and Global Health Law, Lawrence Gostin, told Devex in a written statement. “It would enable a single rich philanthropist to set the global health agenda”.
The WHO currently receives funding from its member state organisations and nongovernmental donors. While the states’ funding met through specified quotas is fully flexible and discretionary, any extra money given by governments or private organisations does not need to be flexible, meaning it can be contributed for use in specific areas.
“The other contributions are always designated for a purpose, and obviously that purpose is according to our priorities and needs”, senior external relations officer for philanthropy, corporate, and innovative financing at WHO, Cintia Diaz-Herrera, explained to the outlet.
© AP PHOTO / ELAINE THOMPSON In this Feb. 1, 2019, Bill and Melinda Gates look toward each other and smile while being interviewed in Kirkland, Wash. The couple, whose foundation has the largest endowment in the world, are pushing back against a new wave of criticism about whether billionaire philanthropy is a force for good
At the end of May, the organisation announced that it was seeking to create its own foundation to attract more funding from nongovernmental donors in a sustainable and predictable manner. WHO Director-General Tedros Adhanom Ghebreyesus noted that the absence of much flexibility in spending constitutes “one of the greatest threats” to the organisation’s success, as “less than 20% of our budget comes in the form of flexible assessed contributions from member states”.
“In effect, that means WHO has little discretion over the way it spends its funds — almost 80% of its funds”, Ghebreyesus added.
Shortly after that announcement, Donald Trump declared that the United States would sever all ties with the WHO, and the country’s contributions to the organisation would all be redirected to “other bodies”.
Read More @ SputnikNews.com