Published Date: March 9th, 2020
GLOBAL MARKETS MASSACRE, CEO MASS EXODUS, END THE FEDERAL RESERVE
Merapi Volcano, Human Trafficking Arrest Coming, China Relocation Plan 300 Million, Deflation Begins, Anunnaki Ancient Remnants, MIC Zero Point Energy, Preparation for The Shift, Meditation Changes Brain Structure
Market Massacre: Oil Crashes 30%, Dow Down 1,000, VIX Explodes As Spoos Crater
Following what may have been the most drama-filled weekend since “Lehman Sunday”, in which we saw not only another major spike in Covid – 19 cases around Europe and the US, but also the total collapse of OPEC after Saudi Arabia unilaterally decided to flood the market with deeply discounted oil in a desperate attempt to crush the competition (yet which may backfire and soon lead to riots in Riyadh), markets are reacting appropriately and just like during Lehman Sunday, everything is crashing:
- S&P Emini futures are down more than 4% in early trading, plunging as low as 2,845 and fast approaching their limit down the price of 2,819 as investors around the world puke risk in an unprecedented fashion.
- Dow futures are down more than 1,000 points unwinding all of Friday’s remarkable late-day rally and then some…
- VIX futures are up 16%, so one can only imagine where the spot will be soon.
- With everyone rushing into safety, rates are soaring and the Ultra bond future is already up a gargantuan 7 to 232-16 in a squeeze that will surely lead to the failure of more than one macro fund still short the long-end, while the 10Y yield is on pace to hit a record all-time low of 0.50%, one which screams recession.
- Naturally, the oil complex is imploding, with WTI down 27% to $30…
- … while Brent has dropped as much as 31%, to just $33 in early Sunday trading in what Bloomberg dubbed “one of the most dramatic bouts of selling ever”…
… and indeed, today’s move is the biggest one-day drop in Brent on record.
… in line with Goldman’s shocking price target cut, which now expected Brent dropping into the $20s.
FX, as discussed earlier, is in freefall, with carry trades getting unwound, while commodity pairs are getting annihilated:
- NORWEGIAN KRONE FALLS TO LOWEST SINCE AT LEAST 1985 VS DOLLAR
- FALLS EXTEND IN CANADIAN DOLLAR, NORWEGIAN KRONE, MEXICAN PESO
Finally, gold, also known to certain WSJ “experts” as a pet rock, it just spiked above $1,700 for the first time since 2012.
What happens now? Well, earlier today Morgan Stanley said that to stabilize markets, the Fed would need to announce not only a rate cut but also resume official QE…
We believe equity markets will struggle until policy-makers get back ahead of the curve with more interest rate cuts and an extension of the current balance sheet expansion and/or an official quantitative easing program – something we think is likely coming
… and with spot VIX likely set to trip 60 or more, the Fed will need to do something or risk another Great Depression, although how sending nominal bond yields into negative territory across the board will help markets remains to be seen. Maybe the Fed’s time has finally run out?
Or maybe Trump – who provoked the market gods one too many times with his relentless stock market boasts as stocks hit artificial high after artificial high – actually has something up his sleeve, because moments after futures opened, he tweeted a rather cryptic “nothing can stop what’s coming.”
We’ll see about that: One thing is certain: markets and traders will be closely watching and waiting for everything that is coming, after more than a decade of Fed-inspired complacency, as price discovery finally returns with a bang.
Rapid CEO Turnover Continues With a Record Number of Top Executives Departing in January
- A total of 219 chief executive officers left their posts in January, the highest month on record, according to business and executive coaching firm Challenger, Gray & Christmas.
- The firm noted that CEO exits have been steadily trending upward since August 2018.
- Perhaps the most notable CEO exit in January was IBM’s Virginia “Ginni” Rometty.
A total of 219 chief executive officers left their posts in January, the highest month on record, according to business and executive coaching firm Challenger, Gray & Christmas.
Last month’s total is 27% higher than the previous monthly record of 172 in October of 2019. January’s record comes after 2019 marked the biggest year ever for CEO exits, totaling more than 1,600. The firm noted that CEO departures have been steadily trending upward since August 2018.
“January is typically a busy month for CEO turnover, as companies make leadership changes after assessing business conditions at the end of the fiscal year,” said Andrew Challenger, vice president of the firm, in a release.
Thirty-eight of the chief executives that left their posts were from public companies.
Perhaps the most notable CEO exit in January was IBM’s Virginia “Ginni” Rometty. Shares of the technology company jumped 5% in extended trading on the day the company said Arvind Krishna is becoming its 10th CEO starting April 6.
Other notable CEO’s who left their posts in January are Sysco CEO Tom Bene and Match Group CEO, Mandy Ginsberg.
Of the 198 replacement CEOs in January, 107 of them came from outside the company.
“This continues the trend from last year which saw companies hiring external candidates versus grooming someone from within,” Challenger said.
The Fed MUST End!
Authored by Jacob Hornberger via The Future of Freedom Foundation,
In response to the potential economic downturn in the economy arising from the spread of the Coronavirus, the Federal Reserve dropped the federal funds rate by half a point – to a range of 1% to 1.25%. Ironically, after the Fed’s announcement, the stock market dropped 786 points or 2.9%.
The Fed’s aim is to stimulate economic activity. By lowering interest rates, the idea is to get businesses to expand operations with more loans and to get consumers to go deeper into debt by purchasing more items.
The result of the Fed’s artificial economic “boost” will be the same as it has been since the Fed was established in 1913: a bubble of malinvestment and consumer loan defaults that will end up plunging the country in a bubble-bursting recession or even depression.
That’s because genuine prosperity in a country cannot be generated by central bank manipulations. If that were the case, every country on earth would be characterized by ever-growing standards of living. In fact, a central bank does the exact opposite — it lowers a nation’s standard of living through its artificial manipulations of interest rates and its expansion and contraction of the money supply.
The never-ending cycle of monetary crises and chaos shouldn’t surprise anyone. The Federal Reserve is a socialist institution, in that it is based on the socialist concept of central planning. A central bank consists of a board of government commissars who have the responsibility of planning the monetary affairs of hundreds of millions of people.
It cannot be done. Socialism is an inherently defective economic system. It produces monetary crises and chaos, which is what we have seen in the United States since the Fed was established in 1913.
The Fed’s Monetary Destruction
The United States once had the finest monetary system in the world, one based on gold coins and silver coins. That was the system the Constitution brought into existence. The Constitution expressly states that the federal government would possess the power to coin money, not print it. It also expressly states that no state shall make anything but gold and silver coins legal tender.
As Milton Friedman and the Austrian school of economic thought have shown, the Fed’s manipulations produced the 1929 stock market crash, which U.S. officials falsely blamed on “free enterprise” rather than on the Fed. That led to the Great Depression, which President Franklin Roosevelt used as the excuse for converting America’s gold-coin, a silver-coin system to one based on irredeemable Federal Reserve paper notes.
The FDR regime made it a felony for any American to possess gold coins. Everyone was required to deliver his gold coins to the U.S. government, which gave people irredeemable paper promissory notes in exchange, which FDR then quickly devalued, wiping out a large portion of people’s savings.
It’s worth mentioning that the FDR regime nationalized gold without even the semblance of a constitutional amendment.
Then, decade after decade, the Fed inflated the paper money supply to finance the ever-burgeoning expenses of the U.S. welfare-warfare state that came into existence in the FDR regime. At the same time, the Fed continued its monetary manipulations as part of its efforts to “plan” economic growth.
The result has been nothing but a series of monetary crises and chaos. Booms and busts, bubbles and bursting bubbles. And a never-ending devaluation of people’s money, to such an extent that silver coins, which FDR, for some reason, had not made a felony to possess, were ultimately driven out of circulation by all the bad money that the Fed was flooding into the economy every decade since 1913.
Ending the Fed
Nonetheless, many Americans have come to believe that the Fed must remain a permanent fixture in American life. Despite the monetary chaos the Fed has produced for the past 100 years, and the manner in which it has plundered and looted people through the inflationary expansion of the money supply, the idea of dismantling the Fed scares such Americans to death.
But dismantling the Fed is the only way to restore a society that is based on genuine economic prosperity, one based on capital accumulation and free trade. There are no short cuts to genuine prosperity. Resorting to a central bank to “stabilize” or “boost” the economy through monetary manipulation is a fool’s errand.
Among the best things that Americans could ever do is dismantle the Fed and establish a free-market monetary system, one in which the government plays no role whatsoever. The ideal is to separate money and the state, just as our ancestors separated church and state. That would be a major step in the direction of liberty and genuine economic prosperity.
Unreported News At a Glance
2013 – Nestle Chairman Peter Brabeck-Letmathe. According to him, corporations should own every drop of water on the planet — and you’re not getting any unless you pay up. “Nestlé production of mineral water involves the abuse of vulnerable water resources. In the Serra da Mantiqueira region of Brazil, home to the “circuit of waters” park whose groundwater has a high mineral content and medicinal properties, over-pumping has resulted in depletion and long-term damage.” – Corporate Watch. “In 2001, Nestlé faced criticism for buying cocoa from the Ivory Coast and Ghana, which may have been produced using child slaves. According to an investigative report by the BBC, hundreds of thousands of children in Mali, Burkina Faso and Togo were being purchased from their destitute parents and shipped to the Ivory Coast, to be sold as slaves to cocoa farms.” – Corporate Watch
A few days ago, the Turkish leader turned to Donald Trump, asking him to supply Ankara with weapons and ammunition. On March 4, the Russian Defense Ministry accused Turkey of violating international law in the Idlib zone and announced a practical merger of Turkish roadblocks and the positions of militants. The Turkish leader presents the actions of Ankara as an attempt to ensure national security. He repeatedly emphasized that he was trying to prevent the Kurdish formations from approaching their borders. according to the expert, in reality, there are currently no Kurds in Idlib. In addition, Ankara’s actions only exacerbate the refugee problem.
During the six-hour talks, Moscow and Ankara agreed on introducing a ceasefire in Idlib. In addition, the parties decided to create a security corridor near the strategically important M4 highway – this area will be patrolled by Russian and Turkish forces. Experts interviewed by Izvestia believe that the negotiations will contribute to the normalization of the situation in the region.
Signs of progress against the coronavirus epidemic emerged in China on Friday with epicenter Hubei province reporting no new cases of infection outside the provincial capital and scientists pointing to advances in the development of vaccines and drugs. “According to our estimates, we are hopeful that in April some of the vaccines [that are being developed] will enter clinical research or they would be of use in emergency situations.” – National Health Commission.
At least 27 people were killed in an attack on a political rally in Kabul on Friday, officials said, in the deadliest assault in Afghanistan since the US signed a withdrawal deal with the Taliban. The Taliban immediately denied responsibility for the assault, which occurred at the commemoration ceremony for Abdul Ali Mazari — a politician from the Hazara ethnic group, most of whom are Shiite. The US withdrawal hinges to a great extent on the Taliban being able to control jihadist forces such as the Islamic State group.
Pakistani rescuers using their bare hands searched Friday for seven people missing after an apartment building collapsed in the port city of Karachi on Thursday, as more bodies were pulled from the rubble, taking the death toll to 16. The residential building had been constructed as a four-story complex, but another floor was added about a year ago, in violation of construction rules, officials said earlier. A building inspector said the sewage system appeared to have triggered the disaster.
Foreign military attachés aboard a Myanmar military helicopter escaped serious injury when it crashed in eastern Myanmar. The helicopter was bound for the commercial capital Yangon when it crashed shortly after taking off. The foreigners from several countries had attended a press briefing in the area, where authorities recently seized US$37 million worth of narcotics, chemicals, and equipment. Myanmar is the world’s biggest producer of methamphetamine, and authorities are often keen to show large-scale seizures to the media.
Crown Prince Mohammed bin Salman has detained three members of the royal family, including a brother of the king and a former crown prince, a sign of how fully Crown Prince Mohammed has consolidated power, and that he may have seen a potential threat to it. The detentions were disclosed Friday by a member of the royal family and a person close to the royal family, who spoke on condition of anonymity because of the danger of speaking out publicly about the crown prince.
The Islamic Republic’s former deputy Foreign Minister and one of the leaders of young revolutionaries who invaded the U.S. Embassy in 1979 in Tehran and took 52 American diplomats hostage, Hossein Sheikholeslam, died of Covid-19. Sheikholeslam was also a member of the Iranian quintet that founded the Lebanese Hezbollah in the 1980s. The quintet helped the Lebanese Hezbollah to entrench itself and grow to the extent that it is currently the key Iranian proxy force in the Middle East.
Freetown Christiania was established in 1971, in Copenhagen, when a group of alternative lifestylers took over an abandoned military base. Danish authorities granted the autonomous neighborhood legal status and (usually) turn a blind eye to activities such as cannabis smoking, which is illegal elsewhere in Denmark. In return, the community banned harder drugs. There are three rules in the Green Light District, aka Pusher Street: have fun; don’t run, it causes panic (because police raids still take place occasionally), and no photos. The 850 inhabitants have their own news and information website, flag and currency. Christiania has seen better days but there are pockets of charm, particularly the rustic, hand-built houses around the lake, where some residents live and work, teaching yoga and meditation classes.
Yesterday, a plane flying from the Far Eastern capital Vladivostok to Moscow was forced to make an emergency landing in Khabarovsk. According to an RIA Novosti source, the Airbus A330 operated by Russian flag-carrier Aeroflot received an anonymous message with a security threat. Shortly after, a flight from Siberia’s largest city Novosibirsk to the capital was forced to make an unscheduled landing in Perm due to an almost identical situation. The S7 aircraft was the subject of a bomb threat and subsequently made a sharp 90-degree turn over the Republic of Udmurtia in order to land quickly in Perm. Before the morning was over an Aeroflot shuttle from Moscow to Zurich returned back to Russia’s busiest airport, Sheremetyevo. Unlike the previous two incidents, the Boeing 737-800 instead was forced to land owing to “technical reasons,” according to the airline’s press service. Later, a passenger plane flying the Moscow to Sofia route turned back to Russia almost two hours after departure. The Airbus A320 operated by Aeroflot was forced to make the U-turn after a malfunction with the ground collision warning system.
This is absolutely the plan by these savages at the DNC: prop Joe Biden up while he struggles with dementia until the convention. Stick Hillary on him (Vice President) like a suckerfish until the election. She takes over 30 days in.
Sun Yat-sen University in Guangzhou – “Temperature could significantly change Covid-19 transmission, and there might be the best temperature for viral transmission.” The “virus is highly sensitive to high temperature”, which could prevent it from spreading in warmer countries, while the opposite appeared to be true in colder climes, the study said.
Earlier this week (March 2nd) NASA’s STEREO spacecraft saw a faint coronal mass ejection (CME) billowing away from the sun. The slow-moving cloud could hit Earth’s magnetic field on March 7th, bringing enhanced magnetic fields capable of sparking Arctic auroras. This is a very uncertain forecast; no guarantees!
Sunspot number: 0
Current Stretch: 33 days
2020 total: 49 days (74%)
Strongest EQ in Europe M3.1 Iceland
Strongest EQ in North America M3.4 Oklahoma
Strongest EQ on the Planet M5.9 Southwest Indian Ridge
Deepest EQ M4.1 249 km Argentina
A New Sunspot: Breaking a string of 34 spotless days, a new sunspot is emerging in the sun’s southern hemisphere. The high latitude and magnetic polarity of the sunspot identify it as a likely member of new Solar Cycle 25. spaceweather.com
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