Harvard Doctor Tells White House ‘Talking And Breathing Is Spreading Coronavirus’

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Only talk when it's essential?

Beguiled, bothered, and bewildered: The first couple confess their crime

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 Australian fires. African locusts. Worldwide plague. Do we live in Biblical times or what? If the world really is ending, we thought it was time to prepare properly for Armageddon. By, you know, reading the damn thing. The Bible, that is. (Go back to the beginning here.)

 Having donned their fig-leaf attire, the first couple awaits [...]


Millions Of Small American Businesses Stunned To Learn They Are Not Eligible For Government Bailout Loans

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Millions Of Small American Businesses Stunned To Learn They Are Not Eligible For Government Bailout Loans

It's the first day that America's small business can apply for the Treasury's Paycheck Protection Program, i.e., the $350BN program that is part of the bigger $2 trillion bailout package designed to provide small businesses access to capital for payroll and other overhead costs to the tune of 2.5 months of average payroll and which must be accessed vi

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a an existing banking relationship - and the rollout is predictably a mess, with some banks such as BofA already accepting loans (which convert to grants if used exclusively for payrolls and business continuity purposes), while others like JPM delaying the roll out to 1pm; a third group of banks such as Wells Fargo has conspicuously failed to provide its rollout plans - perhaps it is scheming how to cross-sell bailout loans with auto insurance or engage in some other typically Wellsfargoian fraud.

Yet one of the big surprises to emerge this morning is that contrary to the SBA's guidance that any small business with 500 or less employees can apply, going to lender portals shows that only a very narrow subset of America's millions in small businesses are be eligible. In fact, only those companies that already have a lending relationship, i.e., an outstanding loan with a given bank are - at least as of this moment - eligible.

Bank of America's website confirms as much, stating on its eligibility page that only "clients with a business lending and a business deposit relationship at Bank of America are eligible to apply for a Paycheck Protection Program through our bank." In other words, any business that only has a deposit account and no loan or business card is out of luck.

And the kicker, literally, for those BofA clients who would like to become eligible and open a business loan account, well it's too late: as the bank makes clear, this should have happened as of Feb 15.

To apply for the Paycheck Protection Program through our bank, you must have a pre-existing business lending and business deposit relationship with Bank of America, as of February 15, 2020. A Business Credit Card, line of credit or loan may be the lending product used.

Said otherwise, business who ran a clean balance sheet without debt are seen as riskier than businesses that carry loans, and are unduly penalized just because they never opened a loan with BofA.

JPMorgan is even more draconian in its selectivity of whom it will hand out Treasury-guaranteed money to. As the bank notes in its ironically-named "CARES" website, "You must have a Chase Business checking account as of February 15, 2020." Anyone who does not is straight out of luck.

And as countless other banks follow suit, the question becomes is this how the banks that were bailed out by ordinary Americans in 2008 will treat those same Americans when they need a rescue too? Alternatively, what happens to these banks when millions of small business fail and America's economy plunges into an even deeper depression. One final question: how is it logical for banks to only bailout those companies which already have debt and are by extension riskier, than to provide funds to their ordinary clients who only now, for the first time, need a helping hand.

We eagerly await Steven Mnuchin's answers to these questions.

Tyler Durden

Fri, 04/03/2020 - 11:13

Reports: Residents In Wuhan Believe Coronavirus Is 100 TIMES WORSE Than Chinese Government Says

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“Nobody in Wuhan believes the official numbers."

Molecular Biologist Says Coronavirus Could Have Leaked From Wuhan Biolab

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Molecular Biologist Says Coronavirus Could Have Leaked From Wuhan Biolab

Authored by Steve Watson via Summit News,

A molecular biologist proclaimed Thursday that the Chinese coronavirus could have originated at the Wuhan Institute of Virology, and been leaked, leading to it’s horrific spread around the globe.

Richard H. Ebright, a professor of chemical biology at Rutgers University, 

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told The Daily Caller that he believes it is a distinct possibility that an accident in the laboratory in China could have caused the outbreak.

Professor Ebright said that “A denial is not a refutation,” referring to China’s top virologist Shi Zhengli, who works at the lab in Wuhan, and has repeatedly denied that it was the source of the pandemic.

Zhengli, known as ‘bat-woman’, because she works with bat-borne viruses,  has said that the coronavirus spread is “nature punishing the human race for keeping uncivilized living habits.”

“The novel 2019 coronavirus is nature punishing the human race for keeping uncivilized living habits. I, Shi Zhengli, swear on my life that it has nothing to do with our laboratory,” she wrote in early February, adding “I advise those who believe and spread rumors from harmful media sources … to shut their stinking mouths.”

Professor Ebright pointed to the quote, noting that it makes Zhengli’s denial more suspect.

While the professor has been cited by the likes of The Washington Post and MSNBC to dismiss theories about the virus being a bioweapon, the media has not covered his belief that the possibility of a lab accident being the source of the outbreak “cannot–and should not–be dismissed.”

To clarify, Professor Ebright categorically does not believe that the virus is an engineered bioweapon, due to the scientific evidence showing otherwise. However, the notion that the strain of coronavirus that has spread around the world, and since mutated, came from the Wuhan lab is a real possibility in Ebright’s opinion.

This notion is also supported by the fact that according to a study contributed to by the ‘bat-woman’ herself, Shi Zhengli, the novel coronavirus is 96.2% identical to a viral strain that was detected in horseshoe bats from the Yunnan Province, which is over 600 miles away from Wuhan.

Separate Chinese research confirmed this and cited testimonies from close to 60 people who lived or stayed in Wuhan for lengthy periods, saying that the bat “was never a food source in the city, and no bat was traded in the market.”

The research paper, which was uploaded to Research Gate on Feb. 6, concluded that “The killer coronavirus probably originated from a laboratory in Wuhan.”

The paper was removed from Research Gate on Feb. 14 or 15, according to internet archives, and it’s author cannot be reached.

A deadly virus leak from a Chinese lab is not unprecedented. The SARS virus escaped twice from the Chinese Institute of Virology in Beijing in 2004, one year after its spread was brought under control.

Many believe that China’s continued subterfuge regarding the coronavirus outbreak, and it’s bizarre accusations that it was spread by the US military, is an effort to divert attention from the possibility that this virus leaked from the Wuhan lab.

Senator Tom Cotton, who has been continually vocal on the matter, told The Daily Caller this week that “The reason I have raised these questions from the very beginning is because of China’s statements and their actions.”

“After concealing the virus for many weeks in December and then minimizing its severity for most of January, they then peddle an origin story about the food market in Wuhan.” Cotton said, adding “Given their dishonesty and the proximity of these labs, which we know were working with coronaviruses, it is only reasonable and responsible for us to ask the question and demand the answers.”

Tyler Durden

Fri, 04/03/2020 - 10:10

Watch Live: America 2020 – Medical Tyranny, Martial Law, The Year Freedom Died

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Share this censored transmission while you still can.

As Media Focuses on COVID19, Study Finds ‘Fire Did Not Cause Building 7’s Collapse on 9/11’

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A four-year long study has been released on World Trade Center Tower 7 which concluded that there is no way office fires brought it down at free fall speed.

Oil Extends Record Surge After OPEC+ Said To Discuss 10MM Bpd Cut

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Oil Extends Record Surge After OPEC+ Said To Discuss 10MM Bpd Cut

Update (0800ET): Minutes after this post, headlines screamed across Bloomberg, sending prices even higher, proclaiming "Russian Producers Ready for Oil Cuts in Bid to Stop Price Rout."

Sounds very bullish right?

Except they buried the lead...

"the Russian producers a

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re ready for coordinated action," said the people, who spoke on condition of anonymity because the matter isn’t yet public.

"Russia may agree to a three-way arrangement with Saudi Arabia and the U.S.," said four people at Russian oil producers.

In other words - Russia will cut if US and Saudis also cut - which is the issue to start with.

*  *  *

Following yesterday's record surge, oil prices are rebounding from an overnight fade on the heels of yet more hope-filled supply-cut headlines from the OPEC+ coalition.

The Organization of Petroleum Exporting Countries and allies, a group led by Saudi Arabia and Russia, will reportedly discuss a possible oil output reduction by 10m b/d on April 6. However, as RIA Novosti reports, there are no quotas yet.

That didn't stop the algos BTFDing...

Source: Bloomberg

Of course, as we detailed yesterday, a 10mm production cut - as unlikely as it is - remains a drop in the bucket compared to the collapse in demand that seems destined to continue... but that won't stop the algos (for now).

As OilPrice.com's Tom Kool noted, even if Saudi Arabia gets the UAE, Iraq and other non-OPEC members such as Brazil, Canada, Kazakhstan, Norway, Mexico, and Azerbaijan to make additional output cuts, this will still not be enough to counter the coronavirus impact on the markets in the short term.

All of this seems highly unlikely unless US producers will agree to force production cuts upon themselves (like Canadian producers did last year), something that US President Trump did not mention in his tweet.

Some smaller and larger US producers are happy to voluntarily cut back production, but oil majors such as ExxonMobil and Chevron have shown no interest in reducing production. Industry organizations such as the API and TXOGA also remain opposed to forced output cuts.

With global oil demand potentially crashing 30 million bpd in April/May, every producer is feeling the pain, but even a multilateral output cut that would involve all G20 producers isn’t likely to keep inventories from ballooning and prices from falling.

In fact, Russian Energy Minister Novak signaled very early this morning that Russia, instead of cutting supply, will wait for demand to come back in the next couple of months (though we note that President Putin will be meeting with Russian oil execs today: "the reason for this meeting is clear," and President Trump is meeting oil executives later on Friday.)

Trade (fade) accordingly.

Tyler Durden

Fri, 04/03/2020 - 07:55

Experts Fear ‘Suicide Wave’ As The Social Fabric Of America Becomes “Unstitched”

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What could come next is social unrest.

UK judge gives Google a choice: Either let SEO expert read your ranking algos or withdraw High Court evidence

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Tough choice for adtech monolith in Foundem case

Google must either show its "crown jewels" to a man it described to the High Court as a search engine optimisation expert or give up parts of its defence in a long-running competition lawsuit, the UK High Court has ruled.…


Futures Slide As European Economy Craters, Dollar Surges: All Eyes On Payrolls

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Futures Slide As European Economy Craters, Dollar Surges: All Eyes On Payrolls

S&P futures have erased much of yesterday's late day ramp alongside European stocks with investors awaiting data on non-farm payrolls and business activity to assess the extent of the economic hit from the coronavirus pandemic which has now infected more than a million people around the world. Bond yields dropped and the dollar surged as attempts to ease liquidity strains appear to be

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failing again as traders hunkered down ahead of March payrolls data that are expected to decline for the first time since 2010. And while the NFP will be bad, it is already old news in light of the last two initial jobless claims which showed 10 million layoffs in just the past two weeks.

The drop erased some of Wall Street's Thursday 2% rally when oil soared on hints of a Saudi-Russia deal, but doubts returned on whether the rebound would last as demand tapers off due to the health crisis.  Walt Disney said on Thursday it would furlough some U.S. employees this month, while sources said luxury retailer Neiman Marcus was stepping up preparations to seek bankruptcy protection.

Putting the past month in context, one month ago, on March 3, there were 92,000 coronavirus cases primarily in China. Today there are over one million cases worldwide, with the US and EU account for the biggest portions. In the US, over 75% of individuals and 90% of GDP is under a stay at home order, including 38 state-wide orders.

The Stoxx 600 index slumped following service PMI reports showing an unprecedented slump in the euro-area economy last month with insurers and energy shares pacing declines. Markit said its monthly measures of services and manufacturing points to an annualized economic contraction of about 10%. With new business, confidence and employment all down, there is “worse inevitably to come in the near future,” it said.

Markit’s composite Purchasing Managers Index fell to 29.7 in March, it said Friday, even lower than initially estimated. That’s down from 51.6 in February and far below the 50 line that divides growth from contraction. Almost every country in the survey had a record-low reading.

“No countries are escaping the severe downturn,” said Chris Williamson, chief business economist at IHS Markit. “But the especially steep decline in Italy’s service sector PMI to just 17.4 likely gives a taste of things to come for other countries as closures and lockdowns become more prevalent and more strictly enforced in coming months.

The reports capped a gloomy week for Europe’s economy, where figures showed manufacturing in a deep recession, huge jumps in jobless claims, and thousands of companies in Germany cutting hours for workers.

The measure for services, which includes hotels and restaurants, was at 26.4, with Italy dropping to just 17.4.

Earlier in the session, Asian stocks fell, led by consumer discretionary and finance, after falling in the last session. Markets in the region were mixed, with Singapore's Straits Times Index and Australia's S&P/ASX 200 falling, and Jakarta Composite and Thailand's SET rising. The Topix declined 0.4%, with Insource and Helios Techno falling the most. The Shanghai Composite Index retreated 0.6%, with Qibu and Chimin Health Management posting the biggest slides.

While economic data is now of secondary importance as the US descends into a (hopefully brief) depression, traders will be eyeing today's jobs report which will end a historic 113 straight months of employment growth as stringent measures to control the coronavirus pandemic shuttered businesses and factories, confirming a recession is underway. However, as previewed earlier, today's Payrolls report will not fully reflect the full extent of the layoffs as it covers data until March 12.

With lockdowns for many economies around the world expected to go on for longer, data are showing the severity of the impact. Nearly 10 million people in the U.S. have lost their jobs in the past two weeks, while the virus continues to pressure corporate balance sheets. American Airlines will slash international flying as far out as the end of August as the pandemic batters travel demand through the normally busy summer season.

After that, at 10 a.m. ET we will get the ISM’s non-manufacturing activity index which likely dropped to 44 in March from 57.3 in February. A reading below 50 indicates contraction in the services sector, which accounts for more than two-thirds of U.S. economic activity.

“We are not going to have the real recovery in the market until what we think is the peak in the amount of infections and deaths,” Stephen Dover, head of equities at Franklin Templeton, said on Bloomberg TV. “We are going to continue to have very wide volatility until we can get over this uncertainty.”

In rates, ten-year Treasury yields are steady around 0.6%, while German equivalents are little changed at minus 0.44%

In FX, the dollar surged against all Group-of-10 peers, heading for a weekly advance, on rising demand for the world’s reserve currency after global coronavirus cases surged past 1 million. The Bloomberg Dollar Spot Index rose 0.5% for the day, bringing its weekly advance to 2.2%. Antipodean currencies led losses in the basket, while the pound slid the most in two weeks. The yen weakened alongside the euro, pound and Swiss franc.

In commodities, crude oil fluctuated following the biggest jump on record a day earlier, but jumped over 10% on news the OPEC+ coalition will hold a virtual meeting on Monday.

Expected data include non-farm payrolls, unemployment, and PMIs. Constellation Brands is reporting earnings

Market Snapshot

  • S&P 500 futures down 1.3% to 2,484.50

  • STOXX Europe 600 down 0.6% to 310.07

  • MXAP down 0.5% to 132.75

  • MXAPJ down 0.5% to 429.35

  • Nikkei up 0.01% to 17,820.19

  • Topix down 0.4% to 1,325.13

  • Hang Seng Index down 0.2% to 23,236.11

  • Shanghai Composite down 0.6% to 2,763.99

  • Sensex down 1.8% to 27,753.84

  • Australia S&P/ASX 200 down 1.7% to 5,067.48

  • Kospi up 0.03% to 1,725.44

  • German 10Y yield fell 0.7 bps to -0.44%

  • Euro down 0.5% to $1.0805

  • Italian 10Y yield fell 4.2 bps to 1.296%

  • Spanish 10Y yield unchanged at 0.709%

  • Brent futures up 5.9% to $31.71/bbl

  • Gold spot down 0.2% to $1,611.34

  • U.S. Dollar Index up 0.5% to 100.68

Top Overnight News

  • The euro-area economy is in a slump of unprecedented scale, which may worsen further as lockdowns to contain the coronavirus are extended. IHS Markit said its monthly measure of services and manufacturing points to an annualized economic contraction of about 10%

  • Oil advanced above $32 a barrel in London as OPEC+ scheduled an urgent meeting next week to try and stem the crude market’s rout, with an output cut of 10% of global production being discussed

  • U.K. services industries shrank at the fastest pace in at least two decades as the destruction of the coronavirus took hold. IHS Markit’s Purchasing Managers Index for the sector fell to 34.5 last month, the steepest downturn since the survey began in 1996

  • The European Central Bank’s 750 billion euro ($811 billion) emergency bond-buying program is the “central pillar” of its response to the coronavirus crisis, but Europe also needs continent-wide fiscal action, Finnish governor Olli Rehn said on Friday

  • The People’s Bank of China needs to make a more complete evaluation before taking a decision to change the rate paid on bank deposits, a senior official said in Beijing Friday

  • The cost of the coronavirus pandemic could be as high as $4.1 trillion, or almost 5% of global gross domestic product, depending on the disease’s spread through Europe, the U.S. and other major economies, the Asian Development Bank said

Asian equity markets were mostly lower as the region failed to sustain the energy-led euphoria from Wall St where risk appetite was driven by the record surge in oil prices after comments from President Trump spurred hopes of a potential Saudi Arabia and Russia oil price truce, in which he noted that he spoke to the Saudi Crown Prince who spoke with Russian President Putin and expects them to announce an oil production cut of 10mln-15mln BPD. Nonetheless, the momentum lost steam overnight given Russia’s denial of any talks occurring between President Putin and the Saudi Crown Prince, with key data releases including Chinese Caixin PMIs and looming US NFPs adding to the cautiousness. ASX 200 (-1.7%) gave up early gains as the initial surge in the energy sector reversed course and amid continued weakness in financials, while Nikkei 225 (U/C) also deteriorated after failing to hold above the 18000 level. Hang Seng (-0.2%) and Shanghai Comp. (-0.6%) conformed to the overnight indecision as participants digested the latest PMI releases from China in which Caixin Services PMI topped estimates and Composite PMI improved, although both remained in contraction territory with the former at its 2nd weakest reading on record. Finally, 10yr JGBs were pressured as Japanese stocks initially traded positive and following the BoJ’s Rinban announcement in which it lowered purchases in the short-end, although this wasn’t much of a surprise given the increased frequency of purchases for this month and JGBs later rebounded off lows as the risk appetite waned.

Top Asian News

  • Indonesia Is Ready to Add to $25 Billion Stimulus, Minister Says

  • Singapore to Close Schools, Most Workplaces Amid Virus

  • Japan’s Airlines Seen Joining Global Carriers With Huge Losses

A relatively tame session thus far in the European equity space, albeit major cash bourses reside in negative territory (Euro Stoxx 50 -0.8%), after the optimism seen on Wall Street yesterday faded during the overnight session – in which APAC bourses lost steam and closed largely in the red. European sectors mostly with energy faring the worst amid yesterday’s pullback in energy prices, although financials stand as the marked laggard, whilst healthcare names outperform – potentially on the back of heavyweight Novartis (+1.6%) after the Co. announced it plans to initiate Phase III clinical trials to evaluate the use of Jakavi for treating a severe immune overreaction in coronavirus patient. In terms of individual movers, Tullow Oil (+25%) sees significant upside after noting it remains on production target, whilst shares also see tailwinds from the rising energy prices. H&M (+3.7%) rises after Q1 products were considerable above forecasts, whilst revenue, group sales and online sales saw YY increases – albeit the Co. warned that losses will be seen in Q2 amid material negative virus impacts. Adidas (-3.8%) falls amid reports the Co. is seeking EUR 1-2bln in government aid due to the fallout from COVID-19. Remy Cointreau (-2.6%) is similar subdued as the virus is to cause steeper Q1 2020 losses than the -26% YY figure seen in Q4 2019.  State-side, Tesla shares rose some 18% after-market after Q1 deliveries topped estimates and its Shanghai factory achieved record production.

Top European News

  • ECB’s Rehn Calls for Europe-Wide Systemic Solution to Crisis

  • U.K. Services Shrink Most on Record After Virus Lockdowns

  • AB InBev and Heineken Decline on Mexico Alcohol Ban Concerns

  • HNA’s Swissport Is Said to Hire Houlihan to Advise on Debt

In FX, the Dollar is back in the ascendancy after Thursday’s oil-induced stumble and regaining momentum as most other currencies flounder amidst the ongoing spread of COVID-19 and economic fallout evident in services PMIs. The DXY has extended above 100.000 and currently probing a relatively key upside chart level at 100.631 (50% retracement from 102.999 ytd peak to recent 98.270 trough) in the run up to NFP, the final US Markit PMI and non-manufacturing ISM.

  • GBP/AUD/NZD - The biggest G10 losers, with Sterling succumbing to all round selling pressure in wake of the weaker than prelim UK services PMI that nudged the composite reading further below 50.0 and pushing Cable back under 1.2400 then 1.2300 to circa 1.2263, while Eur/Gbp has rebounded to 0.8800 from around 0.8740 even though the Eurozone surveys were even bleaker, Spain and Italy in particular. Meanwhile, the Aussie and Kiwi have handed back all their recovery gains from 0.6075 and 0.5900+ to sub-0.6000 and almost 0.5850 despite slightly firmer than forecast Australian retail sales overnight and another PBoC RRR cut that has not helped the Yuan either (Usd/Cnh just under 7.1200 vs 7.1115 Usd/Cnh fix – highest midpoint since March 2008).

  • CHF/CAD/EUR/JPY - Also losing more ground vs the Greenback, as the Franc slips towards 0.9800 where a 1.1 bn option expiry resided and Loonie hands back gains forged from yesterday’s crude price spike within a 1.4208-1.4116 range. Meanwhile, the aforementioned dire Eurozone services PMIs and composite prints have precipitated a further pull-back in Eur/Usd to sub-1.0800 and the Yen has reversed from 108.00+ all the way back above the 200 DMA (108.33).

  • NOK/SEK - In contrast to their major counterparts, more upside for the Scandinavian Kronas as oil returns to the boil ahead of Monday’s hastily convened OPEC+ meeting to discuss an output cut and the Riksbank continues to rule out a repo reduction in favour of any other monetary stimulus that may be deemed necessary. On that note, more should be forthcoming after Sweden’s services sector slumped into contractionary territory alongside manufacturing in March, while Norway’s jobless rate jumped nigh on 5-fold to 10.7%, though not quite as high as anticipated (consensus 13.5%). However, Eur/Nok is hovering shy of 11.2500 and Eur/Sek near 10.9600.

In commodities, the Dollar is back in the ascendancy after Thursday’s oil-induced stumble and regaining momentum as most other currencies flounder amidst the ongoing spread of COVID-19 and economic fallout evident in services PMIs. The DXY has extended above 100.000 and currently probing a relatively key upside chart level at 100.631 (50% retracement from 102.999 ytd peak to recent 98.270 trough) in the run up to NFP, the final US Markit PMI and non-manufacturing ISM.

  • GBP/AUD/NZD - The biggest G10 losers, with Sterling succumbing to all round selling pressure in wake of the weaker than prelim UK services PMI that nudged the composite reading further below 50.0 and pushing Cable back under 1.2400 then 1.2300 to circa 1.2263, while Eur/Gbp has rebounded to 0.8800 from around 0.8740 even though the Eurozone surveys were even bleaker, Spain and Italy in particular. Meanwhile, the Aussie and Kiwi have handed back all their recovery gains from 0.6075 and 0.5900+ to sub-0.6000 and almost 0.5850 despite slightly firmer than forecast Australian retail sales overnight and another PBoC RRR cut that has not helped the Yuan either (Usd/Cnh just under 7.1200 vs 7.1115 Usd/Cnh fix – highest midpoint since March 2008).

  • CHF/CAD/EUR/JPY - Also losing more ground vs the Greenback, as the Franc slips towards 0.9800 where a 1.1 bn option expiry resided and Loonie hands back gains forged from yesterday’s crude price spike within a 1.4208-1.4116 range. Meanwhile, the aforementioned dire Eurozone services PMIs and composite prints have precipitated a further pull-back in Eur/Usd to sub-1.0800 and the Yen has reversed from 108.00+ all the way back above the 200 DMA (108.33).

  • NOK/SEK - In contrast to their major counterparts, more upside for the Scandinavian Kronas as oil returns to the boil ahead of Monday’s hastily convened OPEC+ meeting to discuss an output cut and the Riksbank continues to rule out a repo reduction in favour of any other monetary stimulus that may be deemed necessary. On that note, more should be forthcoming after Sweden’s services sector slumped into contractionary territory alongside manufacturing in March, while Norway’s jobless rate jumped nigh on 5-fold to 10.7%, though not quite as high as anticipated (consensus 13.5%). However, Eur/Nok is hovering shy of 11.2500 and Eur/Sek near 10.9600.

US Event Calendar

  • 8:30am: Change in Nonfarm Payrolls, est. -100,000, prior 273,000
    • Change in Private Payrolls, est. -131,500, prior 228,000

    • Change in Manufact. Payrolls, est. -10,000, prior 15,000

    • Average Hourly Earnings YoY, est. 3.0%, prior 3.0%

    • Average Weekly Hours All Employees, est. 34.1, prior 34.4

    • Average Hourly Earnings MoM, est. 0.2%, prior 0.3%

    • Unemployment Rate, est. 3.8%, prior 3.5%

    • Labor Force Participation Rate, est. 63.3%, prior 63.4%

    • Underemployment Rate, prior 7.0%

  • 9:45am: Markit US Services PMI, est. 38.5, prior 39.1

  • 9:45am: Markit US Composite PMI, prior 40.5

  • 10am: ISM Non-Manufacturing Index, est. 43, prior 57.3

DB's Jim Reid concludes the overnight wrap

I came down from my upstairs home office for lunch yesterday and I’ve never seen my wife so stressed. After two weeks of looking after the kids without anywhere to take them she is at the end of her tether. The twins (2) are hitting, biting and kicking each other and crying all the time and Maisie (4) wants to be entertained 24/7 and can’t work out why she isn’t doing all her daily activities. The new trampoline gives them 30mins each day where they can all release energy but it’s very hard work to police. When I showed her our “The Exit Strategy” note link here where it suggested that it could be around mid-May before restrictions were lifted based on our Hubei-model she nearly walked out. Where she would be allowed to go in these times was a question I didn’t ask. However when I came down for dinner everyone was in a good mood as they have found this new augmented reality feature on google where it puts a wild animal in your house that you can then capture on photo or video with you (or your kids) in the frame. It is very funny. If your kids need 30mins of entertainment in these dull times and want to be in a shot with a live animal just type lion, panda, penguin or snake (there are other animals) into google on your phone and click on “see in 3D”.

Looking at the new virus cases and fatalities we may be looking at alternative ways to distract ourselves for sometime yet in certain countries even if light at the end of the tunnel continues to appear in those earliest infected in Europe. With global cases rising over 1 million and fatalities above 50,000, the US, UK, and Turkey (recent addition to the top 10 and now included in our tables) are the only countries in the top 10 of total cases that still have double digit daily growth in new cases. Italy and Spain continue to offer hope though, with still slowing new case and death rates. For the full tables as well as case growth and fatality charts see our new Corona Crisis Daily.

Straight to China now where this morning we’ve had the March Caixin services PMI which printed at a better than expected 43.0 (vs. 39.0 expected and 26.5 in the previous month). This backs up the jump observed in the state PMIs but still remains in contractionary territory unlike the state one. In the details, the employment index fell to 48.0 from 48.5 in February, the lowest on record since the series began. So while there are signs that China is stabilizing it still continues to reel under the after effects of the virus induced lockdown. The composite reading came in at 46.7 (vs. 27.5 last month). Elsewhere, Japan’s final services PMI was confirmed at 33.8 versus the 32.7 flash while Australia’s services PMI printed at 38.5 and readings in Hong Kong (34.9) and Singapore (33.3) were both sub-35.

In other overnight news, the PBoC Deputy Governor Liu Guoqiang has said that the PBoC needs to make a more complete evaluation before taking a decision to change the rate paid on bank deposits. These comments counter the market expectations that the PBoC would act soon to alleviate the pressure on bank profit margins, amid reductions on lending rates in recent weeks. He added, that above all, a deposit rate cut needs to consider the public’s feeling. Meanwhile, Zhu Jun, head of PBOC’s International Department has said in an interview that countries need to take more powerful measures to prevent and control the coronavirus epidemic, and more proactive fiscal policies to stabilize market confidence. Elsewhere, Washington Governor Inslee has extended the states "Stay Home, Stay Healthy" order to May 4.

Asian markets are closing out the week on a slight down note with the Nikkei (-0.14%), Hang Seng (-0.58%), Shanghai Comp (-0.33%) and Kospi (-0.13%) all down. Meanwhile, futures on the S&P 500 are down -0.97% and yields on 10y USTs are down -1.1bps with the US dollar index trading largely flat. The price of Brent crude has fallen -3.77% this morning and thus paring some of yesterdays big gain (more below).

Indeed the main news item from markets yesterday was the massive move in oil prices, which surged after President Trump tweeted that he expected and hoped that Saudi Arabia and Russia would be cutting back oil production by “approximately 10 Million Barrels, and maybe substantially more”. He then said it “Could be as high as 15 Million Barrels.” In response, Brent crude was up by +21.02% in its largest move higher in data that goes back all the way back to 1988, and exceeding the +14.61% increase back in September after the strike on Saudi oil facilities. Meanwhile WTI was also up by +24.67%, even more than the +23.81% increase we saw on March 19th, and is now the largest one day in either direction on record since 1983 when the data starts. The +24.67% rally is slightly more than the largest one day decline of -24.59% on March 9th, showing just how extreme oil moves have been over the last month. It would have been nice to hear the response from the Saudis to verify, but for the day Mr Trump had a profound impact. Meanwhile, US Treasury Secretary Steven Mnuchin has said overnight that energy companies impacted by the oil-price war can turn to the Federal Reserve’s lending facilities for aid but won’t get direct loans from his department. He said, “Our expectation is the energy companies, like all our other companies, will be able to participate in broad-based facilities, whether it’s the corporate facility or whether it’s the main street facility, but not direct lending out of the Treasury.”

Even before the President’s tweet, oil was earlier around +10% higher thanks to reports that China was planning to buy oil for its emergency reserves, with Bloomberg saying that Beijing had set an initial target of holding government stockpiles equivalent to 90 days of net imports. The moves helped support the currencies of oil-producing nations, with the Norwegian Krone the top-performing G10 currency yesterday, up+0.63% against the dollar and the Canadian dollar close behind, up +0.37% against USD.

With the massive moves in oil prices, it was energy stocks that led equity markets higher yesterday, with the S&P 500 energy index up +9.08%, and the STOXX 600 Oil & Gas index up +5.22%. In terms of the broader market, the S&P 500 ended the session up +2.28% (after a strong last 90 mins), while the STOXX 600 rose +0.42%. For the S&P, this meant it was the 23rd out of the last 24 sessions in which the index has moved by at least 1% in either direction. By comparison, back round the turn of the year when things were rather calmer, we went all the way from mid-October until late January where the S&P didn’t move more than 1% at all.

With risk assets rallying, sovereign bonds were relatively quiet with the main action being tighter peripheral spreads as hope is returning over a pan EU aid scheme for the likes of Italy and Spain. 10yr Bund yields rose +2.5bps to -0.43% while Italian, Portuguese and Spanish bonds tightened to bunds by -6.8bps, -4.8bps and -2.0bps. Meanwhile, credit lagged the rally slightly yesterday. In the US, HY cash was +6bps wider, with IG spreads+1bp wider. In Europe HY spreads were 4bps tighter and IG was unchanged.

Speaking of credit, as we have noted in the past several weeks, there have been some heavy outflows from corporate bond funds since the crisis broke out. To add some positive news, this morning we have published the report Corporate Bond Funds Finally See Some Inflows. This has been a welcome reprieve, partly due to the announced central bank support. You can download the full report here.

Before the bulk of the oil moves that seemed to kick start a risk rally, investor sentiment was hampered by some truly unprecedented jobless numbers yesterday, with figures from a range of countries giving an alarming indication of the scale of the coming employment crisis. The US was the most notable, where the weekly initial jobless claims rose to 6.648m in the week to March 28th, which is more than double the previous week’s record 3.307m reading. That’s 10m in two weeks. To put this into perspective, the total number of employees on nonfarm payrolls totaled 152.5m in February, so this is consistent with some serious rises in unemployment. No one was expecting such a huge number, and it exceeded even the highest estimate on Bloomberg’s survey of economists. As mentioned previously, the worst week in the financial crisis was “only” 665k in March 2009 and the worst week in 53 years of data was 695k in October 1982, which gives a sense of how massive these numbers are.

It wasn’t just the US facing this problem though. In Spain, the number of people filing for jobless claims rose by 302,265 in March (a big miss considering the consensus was at 30,000), the biggest increase on record, and that doesn’t include those who’ve only been laid off temporarily. In Ireland, the Live Register, which measures demand for jobless benefits, rose to a seasonally adjusted 207.2k in March, while a further 283k claimed the pandemic unemployment payment and 25.1k claimed the new coronavirus wage subsidy. And in France, Labour minister Muriel Penicaud said that 400,000 businesses had applied for temporary unemployment for 4 million workers. To put that in context, the INSEE’s data for the total employment number in France stood at 28.5m in Q4.

Looking ahead to today, many will be paying attention to the US jobs report for March to give further colour on the situation. However, given how fast-paced things are moving it’s worth noting that the March survey actually cut off before the recent spike in jobless claims. So take the reading with a pinch of salt, as it won’t fully reflect the deterioration we saw towards the end of the month. The other release to watch out for will be the services and composite PMIs from around the world for March, which follow the manufacturing releases on Wednesday. The flash numbers saw numbers in the 29 to 40 range so worse than manufacturing.

Turning elsewhere now, and the coronavirus is continuing to wreak havoc on the plans of central banks, with the ECB announcing yesterday that they were extending the timeline for their monetary policy strategy review. Having previously said that it would conclude by the end of the year, they’ve now extended this until mid-2021. Unsurprisingly, they also announced that the annual ECB Forum on Central Banking in Sintra is being postponed until November. In terms of other delays thanks to the virus, reports came through from the US that the DNC were going to postpone the Democratic convention from July until August 17.

To the day ahead now, and the data highlights out today will be the release of the services and composite PMIs for March from around the world, along with the US jobs reports for March this afternoon. Elsewhere we’ll also get the ISM non-manufacturing index for March from the US, as well as Euro Area retail sales for February.

Tyler Durden

Fri, 04/03/2020 - 08:13

Media: ‘Bleating’ About Muslim Rape Gangs Takes Focus Away from ‘Islamophobia’

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One of the major issues with Muslim grooming gangs is that the police, prosecutors, and social services turned a blind eye to them for decades for fear of being accused of racism.

Serious Security Vulnerabilities Discovered In Rank Math WordPress Plugin

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Extending the stream of vulnerable WordPress plugins, now joins Rank Math. Reportedly, a couple of serious security vulnerabilities existed in

Serious Security Vulnerabilities Discovered In Rank Math WordPress Plugin on Latest Hacking News.


Scientology’s new attempt to force ‘religious arbitration’ on Danny Masterson’s accusers

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[David Miscavige and RTC’s attorney, Matthew Hinks]

We’ve been focusing the past couple of weeks on Scientology’s schizophrenic approach to the coronavirus pandemic, but life marches on, and so does Scientology litigation.

This week, Scientology’s attorneys filed a pile of new documents in the Danny Masterson lawsuit, and we wanted to bring you up to date on [...]

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Trump Looks to Reopen Economy by May

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His recent tweet indicates his new timeline for an economic restart which, ironically enough, would happen around May Day

After Citizens Refused to Obey, Sheriff Reverses Decision to Close Gun Stores

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After gun shops refused to close and multiple lawsuits for violating the Second Amendment were waged against the LA sheriff, he reversed his order to close gun stores.

Tech services biz Allvotec furloughing staff, asking remainder – including top brass – to take pay cut

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CEO talks of measures to combat expected sales slide due to pandemic

Allvotec – the rebranded Daisy Partner Services business – is responding to the coronavirus crisis by furloughing a number of staff and asking all that remain to take a pay cut to avoid potential redundancies.…

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CNN’s Cuomo Appears Fine While Describing “Hallucinations” & “Tremors” Hours Earlier

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'I was shivering so much, I chipped my tooth,' the anchor claims.

JOE EXOTIC’S TESTIMONY: The only thing missing from ‘Tiger King’ was his day on the stand

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 What astonished us as we watched all seven episodes of ‘Tiger King’ back to back in an epic binge session last week (you too, right?) was not only the crazy story and the crazier characters, but what an incredible feat of filmmaking had been accomplished by directors Eric Goode and Rebecca Chaiklin.

How, we wondered, did [...]


How Just Visiting A Site Could Have Hacked Your iPhone or MacBook Camera

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If you use Apple iPhone or MacBook, here we have a piece of alarming news for you.

Turns out merely visiting a website — not just malicious but also legitimate sites unknowingly loading malicious ads as well — using Safari browser could have let remote attackers secretly access your device's camera, microphone, or location, and in some cases, saved passwords as well.

Apple recently paid a $

COVID-19 Poses A Greater Threat To Iran's Ayatollahs Than US Sanctions Do

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COVID-19 Poses A Greater Threat To Iran's Ayatollahs Than US Sanctions Do

Authored by Con Coughlin via The Gatestone Institute,

The Iranian regime's disastrous handling of the coronavirus pandemic could ultimately pose a greater threat to the survival of the ayatollahs than the impact of Washington's uncompromising sanctions regime.

Up until the coronavirus outbreak, the main

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challenge facing the clerical regime was the devastating impact the Trump administration's hard-hitting sanctions were having on the Iranian economy.

With the economy shrinking at the rate of 10 percent a year, and unemployment hovering around the 20 percent mark, the regime was under increasing pressure from anti-government protesters angry at the regime's mishandling of the economy.

Opposition groups claimed that more than 600 protesters were killed as regime hardliners tried to crush opposition to the regime.

Now the anger of ordinary Iranians at the regime's economic mismanagement has been replaced by outrage at the clerics' attempts to conceal the true extent of Iran's coronavirus outbreak, which has spread to all of the country's 31 provinces.

In its first public reference to the outbreak on February 19, the regime told people not to worry about the virus. Supreme Leader Ayatollah Ali Khamenei accused Iran's "enemies" of exaggerating the threat.

A week later, as the number of cases and deaths surged, President Hassan Rouhani echoed the Supreme Leader's words and warned against the "conspiracies and fear-mongering of our enemies".

He said these were designed to bring the country to a standstill and urged Iranians to continue their everyday lives. More recently, state-controlled Iranian television channels have claimed the coronavirus could be a US-manufactured "bio-weapon", with the Supreme Leader tweeting about a "biological attack".

Consequently, as Iran's ruling elite have been in a state of denial about the scale of the outbreak, the epidemic has spread to the extent that Iran is currently suffering from the worst coronavirus outbreak in the Middle East. The latest official death toll by Iran's health ministry claims there had been 2,898 fatalities at the end of March, with more than 44,000 confirmed cases.

Other reports say the death toll could be much higher, and claim 4,762 people had died as of March 31.

The Iranian regime's failure to grasp the significance of the outbreak in its own country has led 16 other countries in the region to claim that their own outbreaks originated in Iran. These include Iraq, Afghanistan, Bahrain, Kuwait, Oman, Lebanon, the United Arab Emirates.

The scale of the coronavirus crisis in Iran has resulted in increased tensions between the hardline supporters of Ayatollah Khamenei and the government of President Rouhani.

While the hardliners have flatly rejected offers of assistance from Washington to combat the outbreak, Mr Rouhani has adopted a more pragmatic approach which has resulted in Tehran receiving its first shipments of humanitarian aid from Britain, Germany and France -- the so-called E3, which are also the European signatories to the controversial nuclear deal with Iran.

The European aid package, which is said to be worth $548,000, is the first transaction conducted under a trade mechanism known as the Instrument In Support Of Trade Exchanges, or Instex, which has been set up by the Europeans to enable them to barter humanitarian goods and food with Tehran after the US withdrawal from the 2015 nuclear deal

Britain, Germany and France said last month they had offered a 5 million-euro ($5.5 million) package to Iran to help fight the coronavirus outbreak, and are also planning to send medical material, including equipment for laboratory tests, protective body suits and gloves.

Tehran would be well-advised, though, not to regard the aid delivery as raising the prospect of the sanctions being eased. The new trading arrangements set up by Europe have been designed not to breach the Trump administration's policy of applying "maximum pressure" against Iran, so that Instex can only be used for the delivery of humanitarian aid and food.

This means that, while the aid delivery might help to fight the coronavirus pandemic, it will do little to alleviate the pressure on Iran's incompetent, and increasingly unpopular, leadership.

Tyler Durden

Fri, 04/03/2020 - 05:00

Journalist Blasts ‘Absurdity’ of National Quarantine With Open Borders

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Governments forcing citizens behind individual borders instead

Poland to Delay 10 April Memorial for Late President Kaczynski in Russia

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WARSAW (Sputnik) - The Polish delegation will postpone the commemorative events for former leader Lech Kaczynski, scheduled to take place on 10 April in the Russian city of Smolensk, where his plane crashed in 2010, Michal Dworczyk, the head of the prime minister’s chancellery, said on Friday.

Internal Documents: Monsanto Knew For Years Their Products Damaged Farms

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Internal Documents: Monsanto Knew For Years Their Products Damaged Farms

Authored by Mac Slavo via SHTFplan.com,

According to internal documents, Monsanto and Germany’s BASF knew their products would destroy farms in the United States. The firms disregarded the risks even while they planned on how to profit off farmers who would buy Monsanto’s new seeds just to avoid the damages caused by their products.

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The documents (some of them date back more than a decade) have been uncovered during a recent successful $265 million lawsuit brought against both firms by a Missouri farmer. The internal documents were seen and released by the Guardian. They also revealed how Monsanto opposed some third-party product testing, in order to curtail the generation of data that might have worried regulators. In some of the internal BASF emails, employees were even joking about sharing voodoo science and hoping to stay “out of jail.”

“The documents are the worst that I’ve ever seen for any case that I’ve worked on,” said lawyer Angie Splittgerber, a former tobacco industry defense attorney who works with farmers who are suing Monsanto and BASF. 

“So many of them put things in writing that were just horrifying.”

Unfortunately, this isn’t the first time Monsanto has been caught trying to hide the damages that are done with their products.

Records showed that at private meetings dating back to 2009, agricultural experts warned that the plan to develop a dicamba-tolerant system could have catastrophic consequences. Dicamba herbicide would normally kill crops such as soybean or cotton, but Monsanto altered the genes in these crops to create genetically modified varieties that are resistant to the herbicide. This meant that farmers can spray the weedkiller directly on those soybean or cotton plants to destroy weeds but leave the crops unharmed.

The experts told Monsanto that farmers were likely to spray old volatile versions of dicamba on the new dicamba-tolerant crops. They have warned that even new versions were still likely to be volatile enough to move away from the special cotton and soybean fields on to crops growing on other farms.

What is more important, under the system designed by Monsanto and BASF, only farmers buying Monsanto’s dicamba-tolerant cotton and soybean seeds would be protected from dicamba drift damage. –RT

According to a report prepared for Monsanto back in 2009 as part of industry consultation, such an off-target movement was expected. The company also expected things such as massive crop loss”, “lawsuits” and “negative press around pesticides.” Monsanto’s own projections estimated that dicamba damage claims from farmers would total more than 10,000 cases, including 1,305 in 2016, 2,765 in 2017 and 3,259 in 2018.

Both Monsanto and BASF defended their products, claiming dicamba is safe “when used correctly,” and marketed it as an important tool for farmers. Industry estimates suggest that several million acres of crops have now been reported damaged by dicamba. More than 100 US farmers are engaged in litigation in federal court alleging Monsanto and BASF collaboration created a “defective” crop system that has damaged orchards, gardens and organic and non-organic farm fields in multiple states.

Tyler Durden

Fri, 04/03/2020 - 03:55

Unnamed 5G Whistleblower Claims That People Are Being Infected With Coronavirus Via Covid-19 Tests

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Could the tests be spreading the virus?

Refrigeration Trucks Arrive to Hold Bodies as Prisoners Start Digging Mass Graves in New York

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Prisoners in New York are being offered $6 per hour and protective gear to begin digging mass graves in preparation for an influx of dead bodies.

Zoom vows to spend next 90 days thinking hard about its security and privacy after rough week, meeting ID war-dialing tool emerges

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Passwords-by-default feature may be faulty. But hey, who else just went from 10 to 200 million daily users?

Video-conferencing app maker Zoom has promised to do better at security after a bruising week in which it was found to be unpleasantly leaky in several ways.…


Zoom Conferencing App Exposes Users Email IDs And Photos To Other Users

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One more privacy issue has been spotted in Zoom. This time, researchers have found that the Zoom app potentially exposes

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Putin & Trump Versus The New World Order: The Final Battle

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Putin & Trump Versus The New World Order: The Final Battle

Authored by Sylvain LaForest via OrientalReview.org,

We live in exciting times.

The unknown that lays ahead for all of us is both exhilarating and scary. Exhilarating in the long term, but rather scary in the short term. All empires eventually die and we’re in the terminal phase of the New World Order that will not recover from the Russian roul

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ette game it has been playing, for Vladimir Putin handed it a loaded gun and it pulled the trigger.

The last few weeks put everything in place for the last battle. There are so many different facts and events, left and right, and I will try to do my best to remain methodical in this complicated expose. Bare with me, I’ve been struggling for three weeks with this article because of the insane amount of additional details that each day provides. It might have been a wrong time to quit smoking, but I enjoy a good challenge.

Dropping dollars

A little context is required. The New World Order concept is simply the wish of a handful of international bankers that want to economically and politically rule the whole planet as one happy family. It started in 1773 and if it went through important changes over the years, but the concept and objective haven’t changed an iota. Unfortunately for them, international banks that have been looting the planet through the US dollar since 1944 are now threatened by hyperinflation, as their printing machine has been rotating for years to cover their absurd spendings to sustain oil and resource wars that they’ve all ultimately lost. In order to prevent this upcoming hyperinflation, they generated a virus attack on four countries (China, Iran, Italy and now the United States) to spread panic in the population, with the precious help of their ignominious medias. Even though this corona virus isn’t different from any new viruses that attack humans every year, the media scare pushed people to voluntarily isolate themselves through fear and terror. Some lost their jobs, companies are going bankrupt, the panic created a stock exchange crash that emptied wallets and dried assets, resulting in a few trillion virtual dollars off the market to release pressure off the currency.

So far, so good, but everything else went wrong in this desperate and ultimate banzai. The top virologist on the planet confirmed that chloroquine was being used by the Chinese with spectacular results to cure patients, then he improved his magic potion by adding a pneumonic antibacterial called azythromicin, and saved everyone of his first 1000 cases, but one. Donald Trump immediately imposed the same treatment through a fight against his own Federal Drug Administration, bought and owned by the deep state. This forced all medias to talk about Dr Didier Raoult’s Miracle Elixir, signing the death warrant on our confidence in all Western governments, their medical agencies, the World Health Organization, and medias that were trying to destroy the impeccable doctor’s reputation, while inventing sudden «dangerous side effects» of a nearly inoffensive drug that has been used for 60 years to treat malaria. Not so far away in Germany, internationally praised Dr Wolfgand Wodarg noted that the engineered panic was totally useless, since this virus isn’t any different than the others that affect us every years. This has been an amazing victory for Trump and the general population on social medias, whom exposed together the pathological lies of the official communication channels of every New World Order country. De facto, the credibility’s of these puppet governments have vanished in the air, and from the eye of the storm, Italy will surely exit the EU right after the crisis, which will trigger a domino effect running through every EU countries and NATO members. My friends, globalism is dead and ready for cremation.

Digging the abyss

International bankers couldn’t see it coming in 1991, when they dominated 95% of the planet after the fall of the Soviet Union. It seemed that nothing could halt their ultimate mission to complete their Orwellian dream: destroy a few countries in the Middle East, enlarge Israel, and get the total control over the world oil market, the last piece of their Xanadu puzzle that they’ve been working on for a whole century, starting with the Balfour declaration in 1917.

When Vladimir Putin got charge of Russia, there was no sign that he would do better than the drunk he had replaced. An ex KGB officer seemed like a choice more driven by nostalgia rather than ideology, but Putin had many more assets going for him than first met the eyes: patriotism, humanism, a sense of justice, cunning ruse, a genius economist friend named Sergey Glazyev whom openly despised the New World Order, but above all, he embodied the reincarnation of the long lost Russian ideology of total political and economical independence. After a few years spent at draining the Russian swamp from the oligarchs and mafiosis that his stumbling predecessor had left in his trail of empty bottles, Vlad rolled his sleeves and got to work.

Because his opponents had been looting the planet for 250 years through colonization insured by a military dominance, Vlad knew that he had to start by building an invincible military machine. And he did. He came up with different types of hypersonic missiles that can’t be stopped, the best defensive systems on the planet, the best electronic jamming systems, and the best planes. Then to make sure that a nuclear war wouldn’t be an option, he came up with stuff which nightmares are made of, such as the Sarmat, the Poseidon and the Avangard, all unstoppable and able to destroy any country in a matter of a few hours.

Russian President Vladimir Putin, center, gestures while speaking during an annual meeting with top military officials in the National Defense Control Center in Moscow, December 24, 2019. Putin said that Russia is the only country in the world that has hypersonic weapons even though its military spending is a fraction of the U.S. military budget. Russian Defense Minister Sergei Shoigu, left, and Chief of General Staff of Russia Valery Gerasimov, right, attend the meeting.

With a new and unmatched arsenal, he could proceed to defeat any NATO force or any of its proxies, as he did starting in September 2015 in Syria. He proved to every country that independence from the NWO banking system was now a matter of choice. Putin not only won the Syrian war, but he won the support of many New World Order countries that suddenly switched sides upon realizing how invincible Russia had become. On a diplomatic level, it also got mighty China by its side, and then managed to protect independent oil producers such as Venezuela and Iran, while leaders like Erdogan of Turkey and Muhammad Ben Salman of Saudi Arabia decided to side with Russia, who isn’t holding the best poker hand, but the whole deck of cards.

Ending in the conclusion that Putin now controls the all-mighty oil market, the unavoidable energy resource that lubricates economies and armies, while the banksters’ NATO can only watch, without any means to get it back. With the unbelievable results that Putin has been getting in the last five years, the New World Order suddenly looks like a house of cards about to crumble. The Empire of Banks has been terminally ill for five years, but it’s now on morphine, barely realizing what’s going on.

Tragedy and hope

Since there is no hope in starting WW3 which is lost in advance, the last banzai came out of the bushes in the shape of a virus and the ensuing media creation of a fake pandemic. The main focus was to avoid a catastrophic hyperinflation of the humongous mass of US dollar that no one wants anymore, to have time to implement their virtual world crypto-currency, as if the chronically failing bankers still have any legitimacy to keep controlling our money supplies. It seemed at first that the plan could work. That’s when Vlad took out his revolver to start the Russian roulette game and bankers blew their brains out upon the pressure on the trigger.

He called a meeting with OPEP and killed the price of oil by refusing to lower Russia’s production, taking the barrel to under 30 dollars. Without any afterthought and certainly even less remorse, Vlad killed the costly Western oil production. All the dollars that had been taken out of the market had to be re-injected by the Fed and other central banks to avoid a downslide and the final disaster. By now, our dear bankers are out of solutions.

In the meantime, Trump also poked at the tie-wearing gangsters. While medias avoided the corona-killing chloroquine subject, an old pill designed to cure malaria, Trump imposed to the FDA the use of this life-saving drug on US infected patients. Medias didn’t have any choice but to start talking about it, which ignited a chain reaction: big pharmas CEO’s were fired because they had just lost the vaccine contract, countries like Canada looked like genocidal fools for not using the cheap and inoffensive medication, while a most outrageous criminal act by a government was exposed in full light: the Macron government had proclaimed in January 2020 that chloroquine was harmful and had restrained its use, just a couple of weeks before the burst of the fake pandemic! Russian roulette is a popular game in Western governments these days around.

On Saturday March 28th, Russia announced its own corona-killing brew, based on Dr Raoult’s magic potion. Yet another Cossack blow, this time to the big pharmas jugular vein, while most Western countries now have to implement the good doctor’s treatment, or face the slap of a Russian pill coming to save its citizen. Putin is in the lifesaving business these days: in the last week of March, he sent 15 military planes filled with doctors and supplies directly to North Italy, after an aid plane from China was blocked by the Czech Republic. We’re about to learn that European countries fear that China or Russia finds the truth in the Lombardy region, where people are not dying from some corona bug, but probably from a deadly cocktail hybrid from two earlier vaccines for meningitis and influenza, that they were injected in separate vaccination campaigns.

The punchline

I said earlier that everyday brings amazing news. Well on Sunday March 29th, the most stunning of them all fell like a ton of bricks on social medias: confined onlookers learned that Trump had taken control over the Federal Reserve, that is now handled by two representatives of the Treasury of State. Of all the crazy news within the last month, this is by far the best and most shocking. After three years in power, Trump has finally fulfilled his electoral promise of taking private banks out of the US public affairs, ending a century of exploitation of the American citizens. He has put the infamous Blackrock investment group to start buying important corporations for the Fed, meaning that he’s nationalizing chunks of the economy, while avoiding the crash of the market by implicating important private investors in the deal.

President Donald Trump gestures with Jerome Powell, his nominee to become chairman of the U.S. Federal Reserve at the White House in Washington, U.S., November 2, 2017

This utmost daring move comes at a crucial point in time, and faces us with the realization that Vladimir Putin and Donald Trump are united and have taken humanity to the crossroads of the New World Order and freedom. As I have stated often before, I thought that the world would deeply change between 2020 and 2024, because these would be the last 4 years of these two heroes in political power of their nations.

The New World Order is facing the two most powerful countries on the planet, and this fake pandemic changed everything. It showed how desperate the banksters are, and if we don’t want to end up with nuclear warheads flying in both directions, Putin and Trump have to stop them now.

Terminate the BIS, the World Bank, the IMF, the European Central bank, the EU, NATO, now. Our world won’t be perfect, but it might get much better soon.

Easter resurrection is coming. This might get biblical.

Tyler Durden

Fri, 04/03/2020 - 02:45

Watch: Trump Launches Multibillion-Dollar Program to Save Small Businesses — April 2nd

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Thursday conference comes amid soaring jobless claims, bulk of Americans told to stay home
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