ESG: A Woke Ideology Wreaking Havoc As Anti-ESG Rhetoric Heightens

ESG: A Woke Ideology Wreaking Havoc As Anti-ESG Rhetoric Heightens

With all the craziness happening in the world right now, you probably won’t be surprised to know that laws are being proposed that would limit food production due to ESG mandates. The EU's controversial ESG regulations came into force in January 2023, and their advocates have described them as the most ambitious yet.

These laws would severely restrict companies' ability to choose suppliers and buyers without first studying their ESG credentials, made possible through the EU’s ‘Corporate Sustainability Reporting Directive.’ The provisions in the regulations don't just apply to companies in the EU. They apply to non-EU companies, which work with EU companies, and possibly even to consumers as well. 

While most EU lawmakers think these regulations will help increase the quality of life, the exact opposite is likely to occur. Not only will they crush competitiveness, but they could throw the EU into another energy and cost of living crisis that will have a knock-on effect globally. This article discusses the EU’s ESG directive, which provisions are the most disturbing, and reveals why the elites are so obsessed with ESG. 


Image source: Early metrics

ESG Explained

To recap from previous articles, ESG stands for Environmental, Social, and Governance, defining an investment trend driven by financial elites since the pandemic's start. In short, ESG expresses that environmental, social, and governance issues are more important than production output or profits. 

Logically, this imperative is incompatible with basic economics. Purposely pursuing more expensive energy sources, hiring people based on their personal identity rather than their abilities, and letting governmental and non-governmental organizations make business decisions is a recipe for disaster. 

ESG’s incompatibility with basic economics is why it's more accurate to refer to ESG as an ideology rather than an investment methodology. Any company that complied with ESG criteria would quickly find itself out of business. This is why the ESG ideology was mostly ignored during the first 15 years of its existence. 

The term ESG was coined in a 2005 report by the United Nations, the World Bank, and the Swiss government. However, the ESG criteria needed to be more consistent and clear, contributing to their lack of adoption among businesses. But in mid-January 2020, it all changed when BlackRock CEO, Larry Fink, wrote an open letter to all the shareholders of the companies the asset manager is invested in, ordering them to comply with ESG.

 
The Standardization Of ESG Criteria

In late January 2020, the world's elite gathered in Davos, Switzerland, for the World Economic Forum (WEF) annual conference. There, the big four accounting firms standardized ESG criteria. The ESG criteria have since become synonymous with the UN's Sustainable Development Goals (SDGs). For reference, the SDGs are a set of 17 goals that are supposed to be met by all 193 UN countries by 2030.


Image source: Weforum.org

The convergence between ESG and the SDGs comes from the strategic partnership the WEF signed with the UN in mid-2019. The announcement states that the WEF will help "accelerate the development of the SDGs.” In other words, they will provide private-sector funding and compliance. Besides developing the digital ID, SDGs mandate the development of smart cities, central bank digital currencies (CBDCs), and carbon credit scores to track and reduce an individual’s consumption. 

All these technologies are being developed by companies closely affiliated with the WEF, but as mentioned above, ESG is not compatible with basic economics. This begs the question of why the private sector is on board. Well, the short answer is ‘artificial profits.’ 

Companies that comply with ESG get lots of investment from asset managers and better loan terms from mega banks. Companies, which refuse to comply with the ESG, see investments pulled and risk losing access to financial services altogether. Meanwhile, on the public sector side, they risk excessive regulations and bad press from governmental and non-governmental institutions working with these asset managers and mega banks.

This terrifying situation comes from the unnatural accumulation of wealth caused by a financial system where limitless amounts of money can be created. The short story is that asset managers and mega banks borrow lots of money at low-interest rates and then use it to buy assets, influence, and further push their ideologies. Understand, the ESG ideology would not exist in a sound money system; it would not be possible.

The ESG Push

Now although the ESG push has come primarily from private sector entities affiliated with the WEF, there are a few public sector exceptions. The biggest one is the European Union (EU), whose ESG initiatives are rooted in the Next Generation EU pandemic recovery plan.

Not surprisingly, the implicit and explicit purpose of Next Generation EU is to help all European countries meet the UN's SDGs by 2030. The recovery plan is expected to cost over €1.8 trillion. In other words, it provides public sector funding and compliance, complementary to the WEF’s initiatives. 


Image source: commission.europa.eu

One-third of all this printed money will fund the EU's green deal, which was announced at the pandemic's start. Now, to give you an idea of just how ideological the green deal is, one of the three goals noted on its website is to ensure that “economic growth is decoupled from resource use.” This impossible goal is why it's appropriate that the EU’s ESG regulation is part of the green deal. 

The Corporate Sustainability Reporting Directive

The ESG regulation in question is called the Corporate Sustainability Reporting Directive (CSRD). It was first introduced in April 2021, was passed in November 2022, and went into force this January.

However, there are two caveats here. The first is that the CSRD is technically a directive, not a regulation. Whereas an EU regulation requires all EU countries to comply with the EU law as it's written, an EU directive allows EU countries to adjust the EU law and can take their time rolling it out. 


Image source: Kvalito.ch 

This ties into the second caveat: going into force and being enforced are two different things. While the CSRD went into force this January, it won't be enforced until 2025. To clarify, ESG reporting standards will be published in June. In 2024, EU companies will start collecting data using these standards. In 2025, this data will be reported. 


Image Source: DFGE.de

A spokesperson for the agency tasked with setting these standards specified that over 1,000 ESG data points must be reported.  In a December 2021 interview, one of the architects of the CSRD revealed that the directive's purpose is to “bring sustainability reporting to the same level as financial reporting.” He also indicated that all the reported data would have to be digitized and that this won't be easy or cheap. 

Failure to comply with the EU ESG disclosures will result in sanctions that should be “effective, proportionate, and dissuasive.” The CSRD will require governments to publicly shame the companies that didn't comply, order them to stop violating ESG criteria, and fine them. The CSRD is expected to apply to around 50,000 companies operating in the EU, but because of the absurdly low bar for what counts as a large company, the actual figure will probably be much higher. 

An EU company is considered a large company if it meets two of the following three criteria; it has a revenue of more than €40 million per year, has more than €20 million in assets, or has more than 250 employees. Publicly listed EU companies will also be required to comply with the CSRD regardless of their size. 

Moreover, the CSRD will also apply to non-EU companies which meet the following criteria; it returns more than €150 million each year for two consecutive years and has a subsidiary in the EU or a branch that takes in more than €40 million each year.  

Another big reason the CSRD will apply to more than 50,000 companies is because of highly concerning provisions in the CSRD, which, as mentioned above, could apply to small and medium-sized businesses inside and outside of the EU and possibly even to consumers.


Image source: WSJ/Deloitte

The Double Materiality Provision

The most problematic provision is called Double Materiality. As stated by KPMG, the third largest accounting firm and one of the big four auditors, "double materiality requires companies to identify both their impacts on people and environment – Impact Materiality, as well as the sustainability matters that financially impact the undertaking – Financial Materiality.” 

Double materiality sounds like yet another bureaucratic buzzword. However, these two insignificant words open the door to forcing small and medium-sized companies and possibly even consumers to comply with the CSRD’s ESG reporting requirements. 

This is simply because double materiality requires companies directly affected by the CSRD to collect ESG-related data from individuals and institutions which lie upstream and downstream from their actual business operations. 

In other words, in addition to the company’s own data, it would have to collect and report extensive ESG-related data from all suppliers they buy raw materials from – Upstream part of the provision. Then the company would need to chase up its largest consumers who have purchased its product and ask them to provide their ESG data for its reporting purposes. This is the downstream part of the provision. 

In a real-world scenario, the company may have trouble collecting the data due to non-compliance, or the supplier may fall short in their ESG ratings. In this case, they would have to switch to ESG-aligned suppliers to meet the CSRD criteria to avoid a low ESG score and being fined. In such circumstances, the company could quickly end up in bankruptcy. 

However, BlackRock comes to the rescue with investment, and the bank gives the company a loan. It stays afloat and finally gets all its most significant suppliers and consumers to provide detailed ESG data. There's just one problem: they all scored poorly on ESG, they need to use more renewable energy, their workforces need to be more diverse, and they are not members of the WEF. (Remember, ESG stands for environmental, social, and governance.)

BlackRock and the bank see the company’s annual ESG report and inform them that they won't be able to provide any more financial support unless they force its suppliers and consumers to improve their ESG scores. The company tries to jump a few more hurdles, but after trying so hard to comply, the company ultimately goes bankrupt.


Image source: contextsustainability.com 

 

The Harsh Reality

The reality is the CSRD has the potential to impact individuals and institutions worldwide. Large companies in the EU will bear the brunt of the burden. The time and money they will take to report ESG criteria will be a massive expense. 

Any small or medium-sized businesses, which lie upstream or downstream from these large companies, will likewise be required to report, and their expenses will be even greater in percentage terms. Never mind the costs and the surveillance that will come with digitizing all this sensitive ESG data. 

In the 2022 conference held by the WEF in Davos, the ESG panelists agreed that small and medium-sized businesses would eventually have to comply with ESG to get investments and loans from financial institutions. One of the panelists gave an example of compliance with the ‘social’ criteria of ESG, stating that small and medium-sized businesses must pay their employees a “fair wage.” 

Some argue this is code for paying their employees as much as a big enterprise can, which small and medium-sized companies often cannot do. With the CSRD applying pressure from the public sector and ESG investing applying pressure from the private sector, it's more than likely that many small and medium-sized businesses affected will go bankrupt. 

As far as the elites are concerned big business taking over everything was always inevitable. The only things that will protect small and medium-sized businesses from going under will be investments from asset managers, loans from megabanks, and grants from governmental authorities. 

This will give them the power to pick winners and losers based on their compliance with the ESG ideology, not on output. Assuming this ESG ideology continues to grow, we could see a scenario where businesses are occasionally prevented from providing goods and services to consumers on ESG grounds. 

Excuses could include climate change, social inequality, and the inability to track what's been purchased. Again, basic economics says this would not be sustainable, but printed and borrowed money would make it so. 

The EU could achieve its goal of having an economic output with zero input. It would just be rising numbers on a screen, with inflation kept in check by capital controls on digital currencies. Quality of life would quickly diminish as no actual inputs means no tangible outputs. There would be frequent and chronic shortages of critical goods and services, which the elites will blame on the same crises that ESG claims to solve. If it's allowed to be discussed at all, ‘real’ inflation will be off the charts. 


Image source: cryptonews.com

The Elite’s ESG Obsession

So why are the elites so obsessed with ESG? The answer is ‘inflation.’ The byproduct of ESG policies creates inflation. The fact is, the wealthiest individuals and institutions have trillions of dollars of debt that they can't ever hope to pay back. And as mentioned above, most of this debt was used to buy assets and influence, all to push dystopian ideologies which go against the natural laws of economics. 

In theory, most of the issues ESG seeks to fix could be more easily fixed with a sound monetary system. Saving is incentivized, wealth accumulation is arduous, and harmful ideologies are more difficult to finance. In practice, the elites default on their debts and lose all their assets and influence.

That's why there's only one solution in their eyes: to centralize control so intensely that it becomes impossible for them to default. This requires controlling where you go, what you say, and how you spend. If you look at the bigger picture, you'll realize that this is the true purpose of the SDGs and ESG.
 


Image source: US Debt Clock 

 

The Silver Lining

The silver lining is that the elites will likely fail in implementing ESG policies. Evidence of this was in mid-2022 when energy prices soared, and we saw a rise in anti-ESG rhetoric because people knew ESG was the ultimate cause.

Although ESG saw a comeback after energy prices fell, this won’t last long. That's because the energy market fundamentals still need to be addressed. There needs to be more supply relative to demand, and energy companies are reluctant to expand in the face of ESG opposition

When energy-driven inflation comes back, and it will, ESG will become Public Enemy #1 again, and rightfully so. When energy prices spike, you'll see governments declare oil, natural gas, and nuclear energy as green and spend $500 billion to burn so-called ‘dirty’ coal to keep the lights on as Europe and the UK have already done, and that's just what will happen in the developed world.

In the developing world, entire countries will go under; revolutions will arise, along with mass migrations, and all those angry people will know that ESG is ultimately to blame. This will lead to global instability, which will thwart the UN and the WEF’s plans. 

Recently, Vanguard, the world’s second-largest asset manager, resigned from the Net Zero Asset Managers initiative, stating they were “not in the game of politics.”  Moreover, Vanguard doesn’t believe it should dictate company strategy, saying it would be arrogant to presume that the firm knows the right strategy for the thousands of companies that Vanguard invests with. 

Vanguard’s decision to withdraw, citing a need for independence, has perpetuated the anger of climate extremists since the Pennsylvania-based asset manager refused to rule out new investments in fossil fuels in May 2022. 

Now, the elites are hyper-aware of this, so they're trying to move quickly to take control of everything before the purchasing power of their fiat currencies goes entirely to zero. They will fail because people will opt out of the current system when they see it closing in on them. 

They’ll opt out by participating and supporting parallel ecosystems and adopting alternative technologies like cryptocurrency, which have been in development for years in preparation for this exact transition. As fiat currencies implode, the current system will collapse, and an alternative system will emerge. 

 

 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech. I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

 

Tim Moseley

Gold prices soar as investors fearing more bank meltdowns move into safe havens

Gold prices soar as investors fearing more bank meltdowns move into safe havens

Gold has gained almost $100 in the last two days of trading. Gold futures basis most active April contract opened at $1835 on Friday and closed at $1867. Today gold opened at $1877 and as of 5:30 PM EST is currently fixed at $1917.30 after factoring in today’s gain of $50.10 or 2.66%.

Gold’s dramatic rise is largely the byproduct of a potential banking crisis with two banks showing “systemic risk” according to bank regulators. California’s Silicon Valley Bank and Signature Bank of New York required immediate action over the weekend to protect depositors’ capital. The banking meltdown resulted in the two-year Treasury yields having the largest three-day decline since black Monday in 1987.

The Federal Deposit Insurance Corporation Improvement Act of 1991 granted the Treasury Secretary after consulting the president to take steps to protect uninsured depositors in the presence of systemic risk. Originally this legislation was a component of the banking act of 1933 which created the FDIC.

Gold’s dramatic gain over the last two days was a combination of investors and large money managers flocking to gold as a haven asset, dollar weakness, and the belief that the Federal Reserve could pivot its aggressive interest rate hikes.

According to Burton Schlichter, Vice President of global clearing and execution at StoneX Financial said, “After the news on Friday about the uncertainty of customer funds at SVB Bank we noticed some traders covering short positions and some reversing their positions heading into the weekend.” StoneX currently serves more than 32,000 commercial, institutional, and payments clients, and more than 330,000 active retail accounts across 180 countries.

Market participants are under the assumption that the Federal Reserve may pivot by not implementing the anticipated ¼% rate hike at the March FOMC meeting. Some investors are under the assumption that the Federal Reserve might pivot and cut rates. This seems to be based on unrealistic optimism and conjecture rather than facts.

Tomorrow the government will release the latest inflation numbers vis-à-vis the CPI (Consumer Price Index) which combined with last week’s jobs report will be used by the Federal Reserve to make it’s final decision that will be announced on March 22 when the FOMC meeting concludes

By Gary Wagner

Contributing to kitco.com

Time to Buy Gold and Silver

Tim Moseley

Thursday’s Charts for Gold Silver and Platinum and Palladium March 9

Thursday's Charts for Gold, Silver and Platinum and Palladium, March 9

Kitco Commentaries | Opinions, Ideas and Markets Talk

Featuring views and opinions written by market professionals, not staff journalists.

Understanding the charts:

Due to popular demand, we have added Palladium to the list of Analytical Charts that Metals Analyst Jim Wyckoff features.

Sharpening Your Trading Skills: Using Bollinger Bands

Sharpening Your Trading Skills: The MACD Indicator

Sharpening Your Trading Skills: Moving Averages

Sharpening Your Trading Skills: The Relative Strength Index (RSI)

"Wyckoff's Market Rating" System Explained

By Jim Wyckoff

Contributing to kitco.com

Time to Buy Gold and Silver

Tim Moseley

Gold rallies on financial stability risks as investors rush to safety analysts are watching inflation report Fed reaction

Gold rallies on financial stability risks as investors rush to safety, analysts are watching inflation report, Fed reaction

The gold market posted an unexpected weekly gain on potential contagion risks from the Silicon Valley Bank (SVB) meltdown.

The precious metal is once again the safe-have trade, with investors rushing in after Friday's SVB collapse. California banking regulators moved quickly to close SVB Financial Group in what is the largest bank failure since the financial crisis.

SVB was one of the leading technology financiers, and its failure showcases potential unintended consequences of the aggressive hiking cycle pursued by the Federal Reserve in its fight against inflation, according to analysts. The fear is that the startup-focused lender's troubles could ripple through the rest of the global markets.

"Gold is seeing safe-haven flows on these financial instability concerns," OANDA senior market analyst Edward Moya told Kitco News. "Startups and debt refinancing are some of the biggest financial risks that traders are analyzing."

It is a dramatic turnaround for gold. Earlier this week, the precious metal was steadily falling on the outlook that the Federal Reserve will hike rates by 50 basis points at its March meeting.

Gold is now rallying and it is reacting to several drivers — the SVB and financial stability risk, the higher unemployment rate from February, and a reversal of the 50-basis-point hike expectations.

"The NFP report had a strong headline beat, but the rest of the report supported the idea that the labor market is ready to cool. Wage pressures came in much softer than forecasts, and the unemployment rate rose from 3.4% to 3.6%," Moya said. "Gold is surging as Fed rate hike bets get scaled down and as SVB contagion risks trigger some safe-haven buying. The bond market is now starting to price in rate cuts by the end of the year, and that is triggering a major collapse with yields."

The U.S. dollar index fell, and the two-year yield posted its biggest two-day decline since 2008, which is very supportive of higher gold prices.

"Gold is becoming everyone's favorite trade again, and that could continue as liquidity risk concerns won't be quickly answered for that corner on Wall Street," Moya added.

One thing to keep in mind is how sustainable this move in gold is, Gainesville Coins precious metals expert Everett Millman told Kitco News.

"This is broadly a short-term reaction. You do see safe-haven demand come in fits and starts. There is fear over the stability of banking systems, and the dollar is sharply lower today. That is driving gold higher in the short term," Millman said.

Only next week can tell whether gold can hold at these levels, especially in light of Tuesday's inflation report. "I don't think gold bottomed yet, and [prices] might have further to fall during the first half of this year. I wouldn't be surprised to see gold stuck in a range between $1,800 and $1,900," Millman said.

Trading has been very volatile, and with the inflation report coming up, the key thing to pay attention to is how markets react to the data versus the data itself, noted Millman.

"The CPI print itself is not as important as the reaction to it. There has often been a bit of disagreement about whether certain data or comments from the Fed are dovish or hawkish. The Fed will also be watching how markets react and digest the CPI," Millman said.

Market consensus calls are projecting for inflation to slow to 6% from 6.4% in February.

Gold price levels to watch

This flight to safety pushed gold to levels where traders are getting more bullish, RJO Futures senior market strategist Frank Cholly told Kitco News. At the time of writing, April Comex gold futures were trading at $1,869.70 an ounce, up 1.91% on the day.

"I am watching $1,875-$1,880. We might have a bit of trouble getting there. It is the 50-day moving average. The 200-day moving average held for gold, and the $1,800 was good value," Cholly noted.

With the economy probably hitting a rougher patch sooner, Moya remains bullish on gold but anticipates the precious metal will first settle around its current levels.

"I am considering $1,865 right now. The macro backdrop has changed. Immediate resistance is at $1,880. And then everyone will have their eyes on the $1,900 an ounce," Moya said. "If we get a cooler inflation report next week and continued financial instability concerns are still being talked about, we could have a good old fashioned gold rally, with $50-$70 daily moves to the upside."

Next week's data

Tuesday: U.S. CPI

Wednesday: U.S. retail sales, U.S. PPI, NY Empire State manufacturing index

Thursday: ECB rate decision, U.S. jobless claims, building permits and housing starts, Philadelphia Fed manufacturing index

Friday: U.S. industrial production, Michigan consumer sentiment

By Anna Golubova

For Kitco News

Time to Buy Gold and Silver

Tim Moseley

Short covering position evening in gold ahead of US jobs data

Short covering, position evening in gold ahead of U.S. jobs data

Gold prices are higher in midday U.S. trading Wednesday, with silver near steady. Short covering and some position squaring are featured in the precious metals futures markets just ahead of an important U.S. economic data point Friday morning. April gold was last up $13.20 at $1,831.70 and May silver was up $0.024 at $20.175.

The general marketplace was quieter Thursday, ahead of the February U.S. employment situation report from the Labor Department on Friday morning. The key non-farm payrolls component of the report is expected to show a rise of 225,000 jobs, following a mammoth rise of 517,000 in the January report. Look for higher volatility in many markets is the non-farm jobs print misses expectations.

Global stock markets were mixed to weaker overnight. U.S. stock indexes are narrowly mixed at midday.Silver mines will likely be bought by automakers like Tesla, silver to $125 per ounce – Keith Neumeyer

The key outside markets today see the U.S. dollar index lower. Nymex crude oil futures prices are slightly up and trading around $76.75 a barrel. The yield on the benchmark U.S. 10-year Treasury note is presently fetching 3.964%.

Technically, April gold futures bulls and bears are back on a level overall near-term technical playing field. Bulls’ next upside price objective is to produce a close above solid resistance at the March high of $1,864.40. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,800.00. First resistance is seen at today’s high of $1,839.40 and then at $1,850.00. First support is seen at $1,820.00 and then at the February low of $1,810.80. Wyckoff's Market Rating: 5.0

May silver futures prices hit a four-month low Wednesday. The silver bears have the firm overall near-term technical advantage. Prices are in a steep five-week-old downtrend on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at $21.50. The next downside price objective for the bears is closing prices below solid support at $19.00. First resistance is seen at $20.505 and then at $21.00. Next support is seen at this week’s low of $19.955 and then at $19.50. Wyckoff's Market Rating: 3.0.

May N.Y. copper closed down 15 points at 402.60 cents today. Prices closed near mid-range. The copper bulls have the slight overall near-term technical advantage but trading has been choppy and sideways recently. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the February high of 423.40 cents. The next downside price objective for the bears is closing prices below solid technical support at 380.00 cents. First resistance is seen at this week’s high of 409.50 cents and then at 415.00 cents. First support is seen at 400.00 cents and then at this week’s low of 396.10 cents. Wyckoff's Market Rating: 5.5.

By Jim Wyckoff

For Kitco News

Time to Buy Gold and Silver

Tim Moseley

Ethereum dropped by 7 as the crisis at the crypto-focused lender continued Bitcoin and other major cryptocurrencies also fell

Ethereum dropped by 7% as the crisis at the crypto-focused lender continued. Bitcoin and other major cryptocurrencies also fell.

bitcoin

The decline in the prices of major cryptocurrencies, including Bitcoin and Ether, may be attributed to various factors, including the crisis faced by a crypto-focused lender.

When a lender or exchange faces a crisis, it can lead to a loss of trust among investors and traders, who may then start selling off their cryptocurrency holdings, leading to a decline in prices. Additionally, regulatory concerns, market volatility, and the overall economic climate can also impact cryptocurrency prices.

Bitcoin, being the largest and most well-known cryptocurrency, tends to set the tone for the broader cryptocurrency market. As such, any negative news or developments related to Bitcoin can have a spillover effect on other cryptocurrencies, including Ether.

It is worth noting that cryptocurrencies can be highly volatile and subject to rapid fluctuations in price. As such, investors should exercise caution and conduct thorough research before investing in cryptocurrencies.

 

The recent decline in cryptocurrency prices may also be related to concerns about the regulatory environment. Regulators around the world are grappling with how to regulate cryptocurrencies, which are still largely unregulated in many countries. In some jurisdictions, regulators have taken a more proactive approach, imposing restrictions on cryptocurrency exchanges and trading activities. This uncertainty about the regulatory environment can lead to increased volatility in the cryptocurrency markets, as investors may become more hesitant to invest in cryptocurrencies.

Another factor that can impact cryptocurrency prices is market sentiment. Cryptocurrencies have been subject to hype and speculation, and as such, their prices can be heavily influenced by the prevailing market sentiment. When there is a lot of hype and positive sentiment surrounding cryptocurrencies, prices can skyrocket, while negative sentiment can lead to price declines. This is particularly true in the case of altcoins, which are often subject to hype cycles based on new developments or partnerships.

Finally, it is worth noting that cryptocurrencies are still a relatively new asset class, and there is a significant amount of uncertainty surrounding their long-term prospects. While some investors see cryptocurrencies as a promising investment opportunity, others are more cautious, citing concerns about their long-term viability, security, and regulatory risks. As such, it is important for investors to conduct thorough research and carefully consider the risks before investing in cryptocurrencies.

markethive

Tim Moseley

Powell addresses House stressing data dependency before making decisions

Powell addresses House stressing data dependency before making decisions

Today Chairman Jerome Powell finished his semiannual congressional testimony. The chairman warned that the Fed could be more aggressive because "The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated."

In yesterday's testimony, he opened the door for a 50-BPS rate hike at the upcoming March FOMC meeting (March 21 – 22).

"If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes."

According to the CME's FedWatch, the probability of a more aggressive rate hike of 50-BPS has increased since yesterday from 70.5% to 79.4% today, diminishing the probability of a 25-BPS hike from 29.5% to 20.6%.

However, Powell stressed the fact that the Federal Reserve will not make any final decision about the size of a potential interest rate hike until data from Friday's jobs report and next Tuesday's CPI report have been released.

"We have not made any decision about the March meeting. We're not going to do that until we see the additional data." Adding that, "We will be guided by the incoming data and the evolving outlook."

Today ADP released its US private payroll report revealing that an additional 242,000 private sector jobs were added last month. Currently, it is forecasted that Labor Department's jobs report on Friday will show an additional 203,000 to 225,000 jobs added to the payroll last month. Additionally, economists expect the unemployment rate to rise from 3.4% in January to 3.5% in February.

Early forecasts from next week's Bureau of Labor Statistics consumer price index for February are expected to show a modest decrease in inflation down 0.1% month over month. If correct this would take the monthly gain in February to 0.4% a decrease from January which revealed headline inflation increased by 0.5%.

The extreme volatility resulting in a sharp decline in gold and increase of value in the dollar index yesterday has abated. This is as market participants along with the Federal Reserve wait for the release of these next two critical reports from the government.

As of 5:00 PM EST, gold futures basis most active April contract is down $2.00 Or 0.11% and fixed at $1818. The dollar is up 0.08% and the dollar index is fixed at 105.68.

By Gary Wagner

Contributing to kitco.com

Time to Buy Gold and Silver

Tim Moseley

Gold silver punished by still-hawkish Powell

Gold, silver punished by still-hawkish Powell

Gold and silver prices are sharply lower in midday U.S. trading Tuesday, as the metals market bulls are feeling the pressure of a still significantly hawkish U.S. central bank. April gold was last down $34.80 at $1,819.80 and May silver prices hit a five-month low and were last down $0.925 at $20.21.

Focus of the marketplace today was on Fed Chairman Jerome Powell’s testimony on U.S. monetary policy to a Senate committee. Powell leaned hawkish, which was not surprising to many, but the marketplace did deem his remarks as being more hawkish than the central bank chief had been in the recent past. Powell said the Fed will likely have to keep U.S. interest rates higher for longer to win the war against problematic price inflation. He said recent stronger U.S. economic data has likely rolled back some of the softening the U.S. had seen on the inflation front the past few months. The U.S. dollar rallied sharply on Powell’s remarks and hit a three-month high. However, U.S. Treasury yields did not react much to Powell’s comments. The U.S. stock indexes sold off sharply on his remarks, as did crude oil. Powell speaks to a House of Representatives panel on Wednesday. The hawkish Powell is bearish for the metals markets because of the implications of softening consumer and commercial demand as the tighter central bank policies squeeze their respective economies in order to reduce demand.

 Pierre Lassonde: Gold to reach $2,400 by 2028 as geopolitical tensions mount, central banks purchase more bullion

Traders and investors are also looking forward to the February U.S. employment situation report from the Labor Department on Friday morning. The key non-farm payrolls component of the report is expected to show a rise of 225,000 jobs, following a mammoth rise of 517,000 in the January report.

The key outside markets see the U.S. dollar index sharply up and hitting a three-month high. Nymex crude oil futures prices are sharply down and trading around $78.00 a barrel. The yield on the benchmark U.S. 10-year Treasury note is presently fetching around 3.93%.

Technically, April gold futures bulls have lost their slight overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at this week’s high of $1,850.50. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,800.00. First resistance is seen at $1,835.00 and then at $1,850.00. First support is seen at the February low of $1,810.80 and then at $1,800.00. Wyckoff's Market Rating: 5.0.

May silver futures prices hit a five-month low today. The silver bears have the firm overall near-term technical advantage and gained fresh power today. Prices are in a steep five-week-old downtrend on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at $21.50. The next downside price objective for the bears is closing prices below solid support at $19.00. First resistance is seen at $20.50 and then at $21.00. Next support is seen at $20.00 and then at $19.50. Wyckoff's Market Rating: 3.0.

March N.Y. copper closed down 1,205 points at 398.00 cents today. Prices closed near the session low today. The copper bulls have the slight overall near-term technical advantage but trading has been choppy and sideways recently. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the February high of 423.70 cents. The next downside price objective for the bears is closing prices below solid technical support at 380.00 cents. First resistance is seen at 405.00 cents and then at 410.00 cents. First support is seen at the February low of 393.45 cents and then at 390.00 cents. Wyckoff's Market Rating: 5.5.

By Jim Wyckoff

For Kitco News

Time to Buy Gold and Silver

Tim Moseley

Restoring Humanity – From Mass Psychosis to Mass Awakening

Restoring Humanity – From Mass Psychosis to Mass Awakening

The global events of the last three years have presented extreme economic, health, and freedom challenges while raising questions about the emerging dystopian nightmare. 

Why is it that a minority of people can see through the crumbling official narrative imposed on the people while, by contrast, many seem so blissfully asleep in continuing to accept and defend a narrative that does not add up?

In order to answer this, it may be helpful to look at the relationship between perception and mind control and how this contributes to mass psychosis, which refers to a collective lack of insight where current reality is concerned. Even more important than insight is how to break the spell of harmful and destructive conditioning.

I start with a personal example. I was walking through our local hospital many years ago wearing a white jacket and skirt cotton suit. As I walked through the local hospital, it seemed that everybody I passed nodded at me respectfully; initially, I couldn't figure out why. After all, I didn't know them.

It took a minute to dawn on me that my presence was being acknowledged this way because most doctors wear white uniforms. They thought I was a doctor and, therefore, worthy of such respectful acknowledgment due to my perceived status and authority. 

In another incident in 2020, an elderly gentleman in town gave me expletives due to my opposing views over a specific health matter. He abruptly stopped when I told him I was a former nurse, and his demeanor changed entirely to a more passive and accepting stance. Again, in his eyes, I represented authority.


Image source: Bgfons.com

MASS PSYCHOSIS

In the above examples, the keyword was authority, demonstrating the behavioral trend to accept what those in charge say without question. In an ideal world, that should not cause an issue, and there is merit in taking advice from those in authority who have the relevant expertise and a desire to help those they serve genuinely.

However, if you primarily serve your ego, then authority and status can lead to misuse and abuse of power if left unchecked. Money and status are aphrodisiacs to these types of individuals. With this in mind, Thomas Jefferson warned Americans about the need to be vigilant.

‘Freedom is not free; the price you must pay for freedom is eternal vigilance.’

So why do individuals accept authority blindly when a destructive use of power is in play? The clues lie in mind control.

MIND CONTROL

Mind control is the ability to influence the mind towards a specific objective. It can be positive when focussing on how to achieve a dream goal, for example. This is a constructive use of the mind, which impacts emotions and behavior too. When used for harmful or nefarious purposes, this becomes destructive. 

Most, if not all of us, have been born into a time when such corruption is well established. This means that these practices have an air of normality about it. Normal becomes so through a process of conditioning over time. If you look at it from the angle of the law of cause and effect, these nefarious outcomes are the effects of things being created to cause them to happen.

So if the effect is that you wish people en masse to believe a lie, then certain ingredients would need to combine to cause that to happen. For example, combine authority with media, education, and health control, and you can control the message that will be delivered consistently to the people. 

After a certain time, that message will get accepted to the point where it will remain unchallenged without question, even when it makes no sense. Mass conditioning becomes possible when you expose the public to specific information with frequency and intensity through commonly held technology devices such as the television.

George Orwell once said, “Who controls the past controls the future.”

Ask yourself the following question. Who controls the media, who owns education, and who owns the pharmaceutical industries? See if you can name them without research. 

If you struggled with the answer, that is great feedback because it lets you know what you do and don’t know. It's on the basis of such ignorance that many make uninformed comments and decisions about things like health, education, and money.

To help advance your knowledge in this area, the documentary below called  "MONOPOLY" is well worth watching as it shows you how to find the answer rather than just telling you who controls the world. It’s about one hour long and addresses the issue of who owns what when it comes to the primary industries in the world. It also develops your research ability in the process.

This pattern of control highlighted in the documentary is the creation of those with high status, money, presumed authority, and disdain for humanity. Once you determine who controls what, you can examine their connections regarding who they associate and with whom they merge their objectives. You can then more accurately predict the narrative that will come through the media channels. 

So in the case of the Monopoly documentary, all roads lead to Blackrock and even more so to one in particular – Vanguard. The agenda with Blackrock and Vanguard has been addressed in previous articles from the team. 

Since they have a monopoly on every major industry, it stands to reason that it is not in their interest to allow an even playing field for all. They do not believe in meritocracy. Hence they will use everything in their arsenal to remove the competition. 

Does the trail stop with Vanguard, or is there another type of hierarchy with controlling influence? 

Well, depending on how far you want to take your research, there is consistent commentary from various ex-government officials turned whistleblowers to suggest there are individuals in the shadows hiding behind these corporations pulling the strings.

Some talk in terms of thirteen ruling families. Others talk of the Club of Rome or The Committee of 300. The theme of Masonic Orders and The Illuminati are other names. They are collectively referred to as The Cabal or Deep State.

Where this trail ends is hard to say, but a common theme is this hatred for humanity, reflected in destructive rituals and behaviors. This theme of unjust enrichment for the few by those in authority and enslavement of the masses is an enduring theme, irrespective of the exploration angle.

So how does that corporate control relate to you? It goes beyond you buying their stuff. Let’s loop back on the subject of mind control and see if we can get nearer to the roots of this.

MK Ultra

MK Ultra was a collaboration between the government and approximately 80 institutions in the 1950s, a central point of which was the Tavistock Institute. Certain people were selected to be experimented on regarding mind and behavior control. It was brought into being off the back of the war as a strategic initiative for defense purposes. For more background, look up Project Blue Beam, Operation Paperclip, and P20 CointelPro.


Image Source: All That’s Interesting

Director Sidney Gottlieb, an integral figure in that program, joined the CIA in the early 1950s. He was an expert in poisons and devised many projects to remove the enemy.  This program became controversial because such experiments were used more widely to experiment on the public without their knowledge. The nature of the experiments was barbaric in that they were designed to break the human will and spirit. 

The mind would become fragmented as the conditioning process of subliminal messages, drugs, alcohol, mental disruption, fear, blackmail, hypnosis, and sensory deprivation kicked in to induce specific behavior. The subject would automatically and unconsciously respond to a pre-programmed objective once triggered by a stimulus or command at the required time.

MK Ultra is deemed to be behind certain assassinations where the assassin has no knowledge of performing the act. It protects the real killer, and hence these subjects become proxy killing machines, weaponized to do the bidding of those that control them.

Once this program became known in the public domain in the early 1970s, the program was supposed to be terminated. However, it got morphed into Project Monarch, and many believe the project continues in some way, with the use of subtle tactics.

Strategies and Tactics

To bring it forward to the present day, the use of artificial intelligence for population surveillance and the internet of things is deemed to be the medium through which the public is being spied on. Here are a few tactics employed in the process.

Plausible Deniability

Plausible deniability is about insulating yourself from blame based on the fact that someone else performed the misdeed without your knowledge, coupled with the fact that there is no clear trail of evidence that links you directly with the act in question.

The following testimony from a whistleblower from a private security firm in Seattle demonstrates this and how far these global powers are willing to go to control the masses for their own agenda. What he shows undoubtedly aligns with the attempted removal of law enforcement and the introduction of robots. 

It enters the realms of direct energy weapons, which lays the groundwork for plausible deniability because, in this scenario, you can harm someone without touching them and distance yourself through a lack of evidence. 

As much as what he shares is not for the faint of heart, it does prove that these things did not happen overnight, and the view that the so-called virus was created for a global reset rather than the other way around is gaining momentum by the day.

Distraction

Consider this from Aldous Huxley back in the 1930s:

“As for the manual workers, they will be discouraged from serious thought: They will be made as comfortable as possible…; As soon as working hours are over, amusements will be provided, of a sort calculated to cause wholesome mirth and to prevent any thoughts of discontent which otherwise might cloud their happiness.” 

Distraction is a tactic that keeps a person from realizing what is actually happening. A typical vehicle for this is the television.

Entertainment

Look up the film ‘White Noise’ and compare it to what happened in Ohio recently with the train incident. Many reported that the so-called virus reminded them of the film ‘Contagion.’ Most recently, there was talk of another virus called the Marburg virus. 

Coincidentally Stanley Johnson, the father of former UK Prime Minister Boris Johnson, released a fiction book in 2020 called ‘The Virus,’ featuring the Marburg Virus. It was previously published in 1982 as The Marburg Virus. 

A variation of these fiction movies and books is the simulated tabletop exercises facilitated by Bill Gates back in 2019 and written into the WHO papers. (World Health Organization)

Are these fictionalized movies, books, and simulations a tactic to get the mind to associate these things with fiction prematurely or to confuse the mind about what is real and fiction?

Could it be that when the real event happens, it has already been seeded in the collective mind? And any attempts to suggest this is premeditated get seen in a fictitious light as disinformation?  

Or are we being told the agenda ahead of time, albeit presented as mere fiction, so we won’t take it seriously until it catches up with us in an unguarded moment? You decide.

The Trojan Horse 

If you look up what a trojan virus is, it is a play of the trojan horse theme. In this scenario, some sort of malware disguises itself as legitimate code. Once it enters your computer, it wreaks havoc in a destructive manner.

Apply this to 9/11, where there was a supposed foreign terrorist attack. Through the back door came The Patriot Act, allowing for citizen surveillance.

In the case of the so-called virus Co-vid 19 [look up its patent]. The virus supposedly allowed the public to be inoculated through experimental jabs, which has given way to track and trace technology for our protection.

It was, in fact, the other way around. The problem was created in the form of a virus with a 99.9% recovery rate, yet, by sleight of hand, by solely focussing on cases, it was presented as a killer pandemic, suggesting a significant percentage of the population would be wiped out. 

This, in turn, would provide a context and compelling case for mass injections and then, then morph into an emergency climate agenda based on reducing carbon emissions. 

Now the proposal of a digitized CBDC becomes a controlling pinnacle mechanism for approved social behaviors in the form of social credits within smart cities. Spot the trojan horse. Welcome to the new world order.


Image Source: Stop World Control

In their new online playground, the lines between reality and virtual reality get consumed in the metaverse, ‘et voila’ we have the internet of things, where you now become a thing that can be switched on or off at the press of a button – the ultimate control.

A way to further verify these events is to look at where big money has been directed. For example, look up the list of US patents, and you will find related patents going back many years ago that laid the ground for what we are now seeing.

Duplicity

This is where you appear to be on one side while really serving the other. An example of this is when the government sugarcoats its lies with the truth to bait the people or keep them hooked.

Deception – The Overarching Theme

Deception is a theme that runs through all the tactics mentioned above, and the most dangerous kind is the duplicitous narrative that has a bit of truth sprinkled in to keep the masses onside and to mute any objections. 

Robin de Ruiter sums it up in his book The Satanic Bloodlines,

“There is only one truth which has been purposely covered up and re-branded to ensure that those who dare to seek and question are unsuspectingly led into a dangerous cocktail of truth mixed with error.”

This can pave the way for things such as battered wife syndrome and Stockholm Syndrome. The latter is a term often used in psychiatry, where the subject perceives her abuser as more of a friend than a foe to the point where the abused will defend the abuser in the face of threat. 

This is an example of codependency, where the abuser controls a vulnerable subject and where she is dependent on the abuser in some way for her survival.

In the book Fruits From A Poisonous Tree, Mel Stamper describes the other common form of deception, which is the use of language to deceive. 

Nowhere is this more prominent than in the laws that were changed over time to create things like the birth certificate fraud and the debt economy fraud. This was done to enslave the masses and make it so difficult for them to recover, let alone have the strength to make those responsible accountable for their fraudulent and criminal actions.

If you accept that the very things that would bring charges of fraud and crime against us are things that the government seems to be immune to, then at some level, you have to accept that we are being ruled through organized crime by the very people we pay to serve us.

When errors are not corrected, this leads to incompetence. When incompetence is repeatedly ignored, this leads to corruption. That makes them criminals and fraudsters acting as a government.

The above construction of a mass psychosis through mind control and fear would suggest that certain globalists have succeeded in their orchestrated plan to numb, dumb, and stupefy the public into going along with their behavior. Authority has combined with force in the present day to keep it this way. Yet all is not as it seems, and truth has a way of coming to the fore in time.

MASS AWAKENING

This begs the question of how it is possible to go from mass psychosis, where there is no insight into current reality, to a mass awakening, where there is clarity of insight.

Thomas Jefferson reminded us of the important quality of vigilance; “Freedom is not free; the price you must pay for freedom is eternal vigilance.”

Vigilance is a form of being alert to guard against deception and lies, but it needs to feed off the clarity of insight. Here are three tips for facilitating awakening and anchoring it in vigilance.

1. Perhaps a starting point is to recognize what does not work so well, which has been attempted by many who have tried to wake people up. Many have tried to use reasoning in conversation, which has led to much angst and frustration. The key learning point here is that the act of reasoning with a conditioned mind is nigh impossible.

When faced with something new, the mind will tend to roam its inner filing cabinet, and if it cannot find a supporting experience in its memory bank, it will likely dismiss your reasoning. This is a description of conflict often referred to as cognitive dissonance.

Reasoning only works where there is an open mind and heart. An awakening usually bypasses the intellect and happens through the heart. So the first step is to open the heart and desire to seek truth in all things.

If you are a person that is trying to help someone wake up, the best way to help them open their heart is to simply show them what a better world looks like in thought, word, and deed through things like empathy, compassion, and presence.

This becomes like a contrasting mirror to the type of world that ruling authorities are ushering us into. This also provides a safety net in which the person you are helping can genuinely open up over time without fear and entertain something different from what they have held onto for so long.

2. Recognize the opportunity in adversity. There is something about the nature of adversity that causes individuals to evaluate life with greater depth compared to when things are going well. 

There is an opportunity to change the trajectory of life as more awaken to what is going on. That makes this a perfect storm if that opportunity is taken. Consider the example of Transcendental Meditation and the research conducted over four years, demonstrating its powerful ability to reduce crime and increase peace. 


Image source: Meditation Lifestyle

This is an example of the opportunity to create a powerful impact in a positive way and bring restoration to the masses. Prayer is another form that can do likewise when we focus attention on the desired outcome with faith and expectation.

3. In keeping with the theme that showing is more powerful than telling, documentaries such as Monopoly, when done with an educational stance, are powerful to help move a person away from unbridled trust to reconstructing the basics of better research and verification of truth.

Do not be surprised if fear and apathy arise in the process of strengthening your mind. The dross of fear and apathy will surface as you break away from deeply engrained habits and learn to let go of those elements which have created the illusion of safety.

Fear can arise from the act of challenging authority, and apathy can be a buffer against disappointment. Apathy can show up as ‘what difference can I make?’ However, it also blocks the flow of life and is a lie against your true nature. 

Simply move through it with a loving acceptance of yourself and a reminder of the loving soul that you are as you continue with the trajectory change and keep your eye on the prize. Keep exposing yourself to the mind-training tools, spiritual insights, and processes that will help you become strong and resilient where fear and apathy are concerned.

 
SUMMARY

From the example of mind control, we have seen how reality is changed from a place of perception first. Many make the mistake of trying to change the outer reality without the inner journey.

However, to constructively change reality as an individual or group, you must go beyond mind control to expand your inner resources and God-given potential to contain and cultivate new possibilities.

Many of the conditioning tools that lock you into a fearful agenda can also set you free when used responsibly, such as hypnosis, whole-brain synchronization, and heart-brain coherence.

Furthermore, when you surround yourself with like-minded people supporting your progress, you can anchor your own process in eternal vigilance. This way, we can create communities whose connection is based on genuine and authentic care for each other. We can usher in a golden age where natural law principles and parity of equality under the law are restored.

The light emitted from a heart of love for the well-being of our fellow man and woman can dispel any darkness. It can show us the way and help us remember who we truly are and what we can achieve together in bringing about restoration so that we can go beyond survival to become part of a thriving planet.  

Let’s change the trajectory of our future now. Make a decision to give your attention to the sort of world you wish to see rather than dwell constantly on what is playing out, and get creative in harnessing your inner resources to make it a current reality. The future depends on what we create now.

 

 

 

About: Anita Narayan. (United Kingdom) My life's work is about helping individuals to greater freedom through joy and purpose without self-sabotage, so that inspirational legacy can serve generations to come. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

Tim Moseley

Traders are cautious as reflected in fractional declines in gold and the dollar

Traders are cautious as reflected in fractional declines in gold and the dollar

Market participants are trading cautiously with a wait-and-see attitude as this week contains multiple events that could have a deep impact on the financial markets across the board. Cautiousness is the overall demeanor of market sentiment as traders and investors await Chairman Powell's appearance before both the Senate and House beginning on Tuesday. This will be followed by the Labor Department's jobs report for February on Friday.

As of 4 PM EST, gold futures basis most active April contract is down $2.50 or -0.13% and fixed at $1852. Concurrently, the US dollar is also trading fractionally lower down 0.18% or 18 points with the dollar index currently fixed at 104.30.

The more hawkish faction of the Federal Reserve continues its strong narrative that was evident last weekend. On Saturday the San Francisco Federal Reserve President Mary Daly discussed economic and policy issues with Michael Strain, director of Economic Policy Studies at the American Enterprise Institute.

The first question presented to Mary Daly was, "how do you think things are going with the economy right now?" To which she replied, "I really think of it as a yes and situation. And what I mean by that is, yes, the economy has good momentum. Yes, the economy looks like monetary policy is starting to have an effect. We see some slowing in interest-sensitive sectors, we see that we feel a slowdown coming in a way that would be predicted by us raising interest rates."

Throughout the interview, she continued to underscore the narrative of the more hawkish faction of Federal Reserve officials by expressing that the policy of the Federal Reserve most likely will continue to tighten and maintain the more restrictive policy for a longer time.

Although hawkish members of the Federal Reserve are in the minority Chairman Powell is expected to maintain that more rate hikes are needed for a longer time than previously anticipated when he addresses the Senate Banking Committee tomorrow and testifies before the House Financial Services Committee on Wednesday.

Chairman Powell's testimony will be followed by two extremely important economic reports beginning on Friday when the Labor Department releases the most current data in the January jobs report which will be followed by the inflation data vis-à-vis the CPI report on Tuesday, March 14.

By Gary Wagner

Contributing to kitco.com

Time to Buy Gold and Silver

Tim Moseley

The Artist that came out of the Winter