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Coronavirus update May 29

Current Events, Financial Crisis

- "Shocking": Americans Flood Beaches, Trampling Social Distancing Rules
- Virginia Reports Record Jump In New Cases Two Weeks After Reopening: Live Updates
- Missouri officials slam 'irresponsible and dangerous' behavior seen in images of Memorial Day crowds
- Local officials stunned by raucous Memorial Day festivities
- Memorial Day weekend draws throngs despite pandemic; Dr. Birx of White House coronavirus task force is ‘very concerned’ over crowd scenes
- As 100,000 die, the virus lays bare America's brutal fault lines – race, gender, poverty and broken politics

- Hertz, Car Rental Pioneer, Files for Bankruptcy Protection
- Bankruptcy Tsunami Begins: Thousands Of Default Notices Are "Flying Out The Door"
- Hertz Files For Bankruptcy As Lockdowns Crush Rental Car Industry
- The Bank of Japan Was The Biggest Buyer Of Japanese Corporate Bonds In April
- J.P. Morgan’s Jamie Dimon: ‘You could see a fairly rapid recovery’
- Boeing CEO Provides Update on Workforce Actions
- Over 40 Million Jobless In 10 Weeks - "Nobody Ever Imagined It Would Get This Bad So Fast"
- 1 in 4 American workers have filed for unemployment benefits during the pandemic
- Pending Home Sales Plummet 35% YoY - Biggest Drop Ever As Buyers Forfeit Deposits
- The Collapse In US Durables Goods Orders Accelerates In April
- Walmart Now Sells Used Clothing As Unemployment Nears Great Depression Levels
- U.S. economy shrank at 5% annual rate in the first quarter
- Salaries Get Chopped for Many Americans Who Manage to Keep Jobs
- Chicago PMI Plummets To 11 Year Low As Orders, Production Plunge
- Savings Rate Soars To Record Highs As American Consumer Spending Crashes By Most Ever
- -51.2%! Atlanta Fed Now Expects Staggering Collapse In Q1 GDP
- Fed's Harker: Pandemic Is Worsening US Inequality
- U.S. savings rate hits record 33% as coronavirus causes Americans to stockpile cash, curb spending
- Tesla cuts car prices by up to $5,000

- Twitter adds fact-check warning label to Trump’s tweets for first time
- Twitter Tags Trump Tweet On Minneapolis Riots With "Glorifying Violence" Warning
- Trump: US to Cut Ties With WHO, Withdraw Trade Ties With Hong Kong

- German government takes controls at Lufthansa with bailout
- Latam Air Files Chapter 11 Bankruptcy, Stymied by Lockdowns
- Hong Kong Erupts: Tear Gas Deployed As Thousands Fill Streets To Oppose China's National Security Law
- Xi Jinping urges China's army to prepare for armed combat as Hong Kong protests restart over a new bill that would strip away the city's freedoms
- Japan approves funds for $1.1 trillion stimulus to fight pandemic
- Venezuela Allowed To Sell UK-Stored Gold To Buy Food And Medicine
- China Says It Will Use Military Force to Take Control of Taiwan If Diplomacy Fails
- Half of Britain is broke – and the other half is richer than ever

- "Fire Is Raging On Fisherman's Wharf" - 4-Alarm Blaze Rips Through San Francisco Warehouse
- Four Minneapolis officers fired after death of black man
- Minneapolis cop who knelt on man’s neck charged with murder
- AP PHOTOS: Rage in Minneapolis after George Floyd's death
- Minnesota governor apologizes for arrest of CNN crew
- Facebook Says Trump Order Aimed At Social Media Will Trigger More Censorship

- Ferguson 2.0? "It's Real Ugly" As Protesters Clash With Minneapolis Police
- "Minneapolis Is Burning" - Buildings Torched, Stores Looted, Protests Over George Floyd Intensify
- Violent protests rock Minneapolis for 2nd straight night
- National Guard called to respond to Minneapolis violence
- George Floyd Protests See Violence Break Out in Seven Cities
- 'When the looting starts, the shooting starts': Trump threatens to 'assume control' of Minneapolis in extraordinary tweet about rioter 'THUGS' as National Guard rolls into the city and George Floyd protests erupt across the U.S.
- Violent Rioters Breach Ohio Statehouse, Breaking Windows and Entering Building to Protest Death of George Floyd
- Protests over George Floyd’s death spread across the nation

- Grocery prices rising at highest rate since 2012

- SpaceX's moment of triumph arrives as astronauts ready for US launch
- SpaceX Crew Dragon launch postponed due to poor weather
- NASA-SpaceX Launch Set for Second Attempt on Saturday

Posted: 2020-05-29 17:32:45

Coronavirus update May 22

Current Events, Financial Crisis

- 'The grief is so unbearable': Virus takes toll on Navajo
- Coronavirus: Trump says US reopening, 'vaccine or no vaccine'
- Africa's COVID-19 Cases Soar Past 88,000 As 'Coronavirus Apocalypse' Fears Loom
- The Absurd (and Sometimes Creepy) Ways Businesses Are Enforcing Social Distancing
- Two southern churches forced to reclose after leaders, congregants get coronavirus
- Coronavirus Cases Pass 5 Million In Latest Global Milestone: Live Updates
- How masks helped Hong Kong control the coronavirus
- COVID-19: Nurse in revealing outfit reprimanded
- Fauci says it’s still possible that a coronavirus vaccine will be available in the U.S. by December

- House Passes $3 Trillion Relief Bill Seen as Democrats’ Opening Bid
- Pandemic claims another retailer: 118-year-old J.C. Penney
- Here’s What Collapsed, Spiked, or Hung On in 12 Charts of Retail Sales (Yes, Department Stores Were Already Toast)
- Warren Buffett’s Berkshire dumps most of Goldman Sachs stake
- Why ‘the next big shoe to drop’ in the U.S. economy could hit by July
- 10 Numbers That Show The U.S. Has Fallen Into A Horrifying Economic Depression
- Pandemic could cost global economy $82 trillion
- Americans Have No Clue What's Next on Inflation
- U.S. housing starts fall sharply in April
- "They Don't Want To Come Back To Work" - Restaurant Blames CARES Act For Labor Shortage
- Wellstar furloughs more than 1,000 employees as health care system faces up to $600M in losses due to Covid-19
- Powell, Mnuchin split on next steps for economic recovery
- 2.4 Million Claimed U.S. Unemployment Last Week
- Existing Home Sales Continue Collapse To 9-Year Lows
- Despite Soft Survey Data Rebound In May, PMI Signals 37% Collapse In US GDP
- Many Facebook Employees to Work From Home Permanently: Live Updates
- Von Greyerz: The Global Forest Fire Is Here
- Here Comes The Wave: Loan Defaults Hit 6 Years High
- IBM confirms layoffs are happening, but won’t provide details

- Obama criticizes nation’s leaders for bungled handling of coronavirus pandemic
- Nancy Pelosi fears for 'morbidly obese' Trump after hydroxychloroquine admission

- Fitch Lowers Outlook On France Debt Rating To Negative
- Germany in recession as economy shrinks 2.2% in 1st quarter
- Fury in Germany as thousands join protests across country over lockdown measures and a vaccine plan by Bill Gates as Angela Merkel's popularity falls
- AP PHOTOS: Jobless in crisis, Indian migrants head home
- Coronavirus: Italy to reopen borders to EU tourists from 3 June in ‘calculated risk’
- Qatar imposes mandatory masks on pain of prison
- Coronavirus: Brazil overtakes Spain and Italy in COVID-19 cases
- Over 100 Million in China’s Northeast Face Renewed Lockdown
- Coronavirus rental hardship 'kicked down the road' to spring of 'carnage'
- "Thousands Are Starving" - Protesters Demanding Food Clash With Police In Santiago
- German Economist Warns Italy Faces Eurozone Exit As Coronavirus Crisis Deepens
- UK Sells Negative-Yielding Debt For The First Time
- China signals plan to take full control of Hong Kong
- More than 80 killed in India and Bangladesh as Cyclone Amphan heaps misery on coronavirus-hit areas
- Wuhan BANS eating wild animals: Five-year rule brought in after global coronavirus pandemic was linked to city's wet markets
- Locusts, COVID-19, flooding pose 'triple threat' in Africa
- Auto Registrations In Europe Plunge 76% In April, The Largest Drop On Record
- "This Is The End Of Hong Kong": China Congress Announces Crackdown On Hong Kong With New "National Security" Law; Abandons GDP Target

- Hundreds demand justice for Arbery at Georgia rally
- Georgia jobless rate rockets to record 11.9% in April

- New Orleans Begins Re-Opening
- People flock to NYC-area bars, beaches as ‘quarantine fatigue’ intensifies
- Palm Beach County reopened without meeting federal guidelines, investigation shows
- Preschools and childcare might reopen soon. Should you send your kid?
- All states are partially reopen leaving Americans to weigh the risk of venturing out again
- Trump Calls Houses of Worship ‘Essential Services’ and Urges Reopening

- Analysis On Unemployment Projects 40-45% Increase In Homelessness This Year

- In Jerusalem, Ramadan Restrictions Last Seen During the Crusades Return

Real estate
- Zillow: New listings for expensive homes plunge 46% year over year

- A Huge Fleet Of 117 Tankers Is Bringing Super Cheap Crude To China

- Cars Line Up Thursday for ‘Mega’ Mobile Food Pantry Fair Park
- Chicago Chicken Shop Charges 26% "COVID-19 Fee", Claiming Rapid Food Inflation
- Nearly 1 in 4 New Yorkers Needs Food as Pandemic Persists

- 10,000 Flee Record Flooding in Michigan After 'Catastrophic Failures' of ​Dams

- Global Cooling!! Low Solar Activity To Cause Temperatures To Plummet, Say Scientists
- Satellites and spacecraft malfunction as Earth's magnetic field mysteriously weakens

- Lori Loughlin always insisted she was innocent in admissions scandal. Why change now?
- The University of California system will drop the requirement for SAT and ACT scores, a move with major implications for college admissions.

Posted: 2020-05-23 06:10:26

Coronavirus update May 15

Current Events, Financial Crisis

- Global Coronavirus Cases Top 4 Million, Deaths Top 275k
- Lyft to require drivers and riders to wear face masks
- Trump's rebuke of Fauci encapsulates rejection of science in virus fight
- The psychology behind why some people won't wear masks
- I Just Flew. It Was Worse Than I Thought It Would Be.
- 'We're in deep s**t, the world is.' Whistleblower reveals mask maker's reaction to federal government's failure to tackle coronavirus and slams months of inaction - as Donald Trump calls him 'disgruntled'

- Sweet Tomatoes Permanently Closing due to Coronavirus
- Businesses Discover Employees Would Rather Stay Home And Collect Unemployment During Pandemic
- Record 103,415,000 Not in Labor Force; Participation Rate Sinks to 47-Year Low
- 20.5 million jobs were lost in April as unemployment rate jumps to 14.7%
- PAY DAY New bill could give Americans $2,000 monthly coronavirus stimulus checks for up to 90 days after pandemic
- San Diego Unemployment Rate Nearly 27%, Breaking County Record Set During Great Depression
- Here's the real American Way and our Road to Recovery
- The Disastrous Employment Numbers Show Almost Every Job Is at Risk
- Why 1.4 Million Health Jobs Have Been Lost During a Huge Health Crisis
- One-fifth of Americans missed rent payments in May
- Former JPMorgan Economist: We Are Heading Towards A Weimar Republic Inflation Setup
- Fiscal Disaster: US April Deficit Hits Record $738BN As Government Spends $1 Trillion In One Month
- The Fed Is Now Buying Bond ETFs: Here Is What You Need To Know
- Core CPI Crashes By Most On Record; Food Costs Soar As Energy & Apparel Collapse
- Infinite money printing: Fed now buying ETFs
- Twitter CEO Jack Dorsey: Employees Can Work Remotely Forever
- Musk Reopens Tesla's Plant, Dares Authorities to Arrest Him
- The Worst Is Over: Goldman Finds US Economy Is Now "Through The Trough"
- Another 3 million Americans file for unemployment benefits
- Hertz Cancels 90% Of New Car Purchases, Further Pressuring Already Desperate Automakers
- Fed Chair Powell just said 40% of households making less than $40,000 a year lost a job in March
- Almost half of workers who lost their job due to Covid-19 are ‘finding it difficult to get by,’Fed survey says
- Delta will suspend service to 10 U.S. airports starting May 13
- Retail sales crater a record 16.4% in April amid coronavirus lockdowns and spending slump
- US Industrial Production Plunges By Most In Over 100 Years
- Cox Automotive furloughing 12,500 employees as Covid-19 slams brakes on auto sales
- ‘Rolling Shock’ as Job Losses Mount Even With Reopenings
- Foreigners Dumped Record Amount Of US Treasuries Amid March Liquidity Crisis
- 25% Of US Restaurants Will Never Reopen: Opentable

- Pelosi unveils $3T virus bill, warns inaction costs more

- India's Modi promises $266 billion to protect economy from Covid-19

- Los Angeles County is telling people they may need to stay home until August

- US grocery costs jump the most in 46 years, led by rising prices for meat and eggs
- Grocery prices are soaring. Here's what's getting more expensive
- Hunger Pandemic: Visualizing COVID-19's Effect On Global Food Insecurity
- Coronavirus to Slow U.S. Meat Production for Months, CEO Says

- As The World Is Distracted By COVID-19, A Series Of Large Earthquakes Is Rocking “The Ring Of Fire”
- Vegas-Reno highway cracked, closed after 6.5 quake in Nevada

- Forget murder hornets. Giant gypsy moths could bring 'serious, widespread damage' to the US.

Precious metals
- HSBC Lost $200 Million In One Day When The Gold Market Broke

Posted: 2020-05-15 18:07:17

Ahmaud Arbery

Current Events

Ahmaud Arbery
- 25
- Black
- High school football player
- Graduated from Brunswick High School in 2012
- Indicted bringing a gun to a 2013 high school basketball game when he was 19
- 2018 arrested for shoplifting
- Unemployed, seeking electrician career

Gregory McMichael
- 64
- White
- Worked in Brunswick Police Department
- Investigator in the Brunswick District Attorney’s Office
- Retired in 2019

Travis McMichael
- 34
- White
- Son of Gregory McMichael
- Employment status unknown

William “Roddie” Bryan
- 50
- White
- Witness to the crime and filmed video
- Mechanic

Wanda Cooper Jones
- Mother of Ahmaud Arbery
- Ahmaud lived with his mother

Marcus Arbery
- Father of Ahmaud Arbery

Allen Booker
- Glynn County Commissioner
- Black

Ahmaud Arbery was running in Satilla Shores neighborhood (a white neighborhood) in Brunswick, GA on Sunday afternoon Feb 23, 2020. Neighborhood was 2 miles from his home and he was unarmed. Gregory McMichael and Travis McMichael called 911. They confronted him and sought to detain Ahmaud until police came. Arberry had grabbed the shotgun and they engaged in a fight. Three shots were fired. Ahmaud bled to death on the scene.

On Feb 27, Brunswick District Attorney Jackie Johnson wrote a letter recusing herself from the investigation in order to avoid a conflict of interest.

Johnson requested that the state's attorney general, Christopher Carr, assign the case to another office to investigate.

The case was then referred to Waycross District Attorney George E. Barnhill, who also recused himself from the case.

April 13, Carr then assigned Atlantic Judicial Circuit District Attorney Tom Durden to the case.

May 5, a 28-second cellphone video posted on YouTube by Alan Tucker, a Georgia criminal defense attorney

May 7, Travis McMichael and Gregory McMichael were arrested two months afterwards by GBI after national attention on the case. Charged with felony murder and aggravated assault.

- Glynn County - 69% white and 27% black
- Brunswick, Ga — a town of about 16,000 - 37% white and 56% black

- Video shows fatal Brunswick shooting of Ahmaud Arbery

- Google maps - Satilla Dr/Holmes Rd

- A Georgia man was chased and killed while jogging, his mother says
- Mother seeks justice after son shot while jogging in Brunswick, Ga.; pair involved in killing not arrested
- What we know about Satilla Shores, the community where Ahmaud Arbery was killed
- On the day Ahmaud Arbery took his last run, 911 calls shine new light on case
- A suspect in the killing of Ahmaud Arbery was involved in a previous investigation of him, recused prosecutor says
- The events leading up to the arrest of 2 men for murder of Ahmaud Arbery
- Man who took video of Ahmaud Arbery’s shooting will also be investigated, Georgia official says
- William ‘Roddy’ Bryan: 5 Fast Facts You Need to Know
- Attorney retained to represent Brunswick man who shot video of Ahmaud Arbery’s shooting
- Ahmaud Arbery case puts spotlight on citizen's arrest law; it prohibits the use of deadly force
- Ben Crump: Ahmaud Arbery killing reminiscent of lynching
- White father, son charged with murder in Ahmaud Arbery case

Posted: 2020-05-08 21:31:59

Coronavirus update May 8

Current Events, Financial Crisis

- Once upon a virus...
- Oregon county creates race-specific 'grounding space' to escape 'whiteness' during pandemic
- Coronavirus: The Hammer and the Dance
- FDA authorizes remdesivir for emergency use as coronavirus treatment
- Saudi Officials Say Whopping 70% Of Mecca's Population Likely Infected With COVID-19
- Data Shows World Rejecting Governments' Shelter-In-Place Tyranny
- Security guard shot and killed after telling customer to use face mask
- China 'finds new coronavirus strain that lasts for 49 days' in infected patient
- Scientist Whose Doomsday Models Sparked Global Lockdown Resigns After Breaking Quarantine To Bang Married Lover
- White House Plans To "Wind Down" Coronavirus Task Force In Coming Weeks
- Trump Says Coronavirus Task Force to Shift Focus to Safety and Reopening Economy
- 3 Hospital Workers Gave Out Masks. Weeks Later, They All Were Dead.

- What You Need to Know About Govt. Grants, Loans, and Forbearance to Survive the Pandemic Economy
- Berkshire Sells Entire Stakes in US Airlines
- More than 700 lawsuits have been filed across the US against fitness clubs, SXSW, airlines and prisons as Americans get fed up with coronavirus practices from businesses
- Here's what you didn't see inside Warren Buffett's annual meeting
- U.S. Public Debt Increases More In April Than During Entire 2019
- From Houston to New York, America’s Muni Finances Are in Tatters
- Treasury's $4 Trillion Funding Task Signals Record Auction Slate
- US Manufacturers New Orders Crash BY Most Ever (And April Will Be Worse)
- Elon Musk Puts Two Homes On The Market After Tweeting He Would Sell Most Of His "Physical Possessions"
- J. Crew Files For Bankruptcy As Covid Chaos Crushes Retailers
- Muscle'd Out: Gold's Gym Files For Chapter 11 Due To Government Lockdowns
- The U.S. Treasury plans to borrow a record $3 trillion in the second quarter for coronavirus relief — more than twice what it borrowed in all of fiscal 2019
- Top Amazon executive quits over the firings of warehouse workers and climate activists
- Renters Now Have 12 Months To Repay Unpaid Rent In Santa Monica
- For Disney, a Stricken Empire
- Cancel Rent
- The Great Disconnect: Stocks and Just About Everything Else
- WeWork co-founder Adam Neumann sues SoftBank over collapse of $3 billion deal
- Service side of the U.S. economy crashes in April to recession levels, ISM shows
- The Choice For These Workers: Return To Their Jobs Amid A Pandemic Or Lose Them
- Airbnb To Lay Off 1,900 Employees As Tourism Industry Collapses
- Frontier Airlines Will Guarantee Empty Middle Seat For $39
- 18 Signs That We Are Facing A Record Breaking Economic Implosion In 2020
- Yields Surge After Treasury Announces Record $96BN In Treasury Refunding, Launches 20-Year Coupon Bond
- "Unprecedented" - Companies Slashed Over 20 Million Jobs In April, ADP
- Lord & Taylor to liquidate its stores as soon as they reopen, sources say
- Lufthansa to pay no dividend for 2019 as airline seeks bailout
- Double Black Swan Hitting Texas Drags Down the Rest of the U.S.
- "Biblical" Wave Of Bankruptcies Is About To Flood The US
- Economic expert with perfect record calling recessions is betting this one will be over by the end of 2020
- Why Wednesday's historic jobs data was 'not really news'
- 3.2 Million Filed for Unemployment Benefits
- It Begins: For The First Time Ever, Futures Price "Fatal" Negative US Rates Starting Dec 2020
- Neiman Marcus Files For 'Prepack' Bankruptcy, Joining J Crew
- US Consumer Credit Unexpectedly Crashes As Americans Repay A Record Amount Of Credit Card Debt
- Worst Jobs Report In History: 20.5 Million Jobs Lost As Unemployment Rate Hits Record 14.7%
- The Nasdaq Is Now Bigger Than The Rest Of The World's Stock Market
- Something Odd Is Going On In Parking Lots Around The US
- A Tragic Record: For The First Time Ever, More Than Half Of The US Population Is Not Working

- White House blocking Fauci from testifying before Congress about coronavirus response
- California First To Be Approved For Up To $10 Billion Bailout From Feds To Pay Unemployment Benefits
- Knock, Knock. We're From The Government & We Want Your Family's Blood

- 'Kim's condition has been upgraded to 'alive!': Internet reacts with hilarious memes to claims Kim Jong-un is alive after photos of dictator are released for the first time in 20 days following rumours he had died
- Rights groups call for probe into Venezuela prison riot that left 46 dead
- Spain Seeks Another Bailout as Deficit Skyrockets
- Locusts, pandemics, floods: East Africa can’t catch a break
- First Quarter Declines in Asia’s Luxury Home Values Foretell Price Falls Elsewhere
- 'Economic Fallout Accelerated' - Hong Kong Records Worst Contraction In History
- Greece sees economy tanking this year on coronavirus impact: stability programme
- Italy begins to reopen
- Three Russian doctors fall from hospital windows, raising questions amid coronavirus pandemic
- Quarter of all UK workers paid to stay home on government scheme
- India’s Jobless Rate Jumps to 27.1%, Survey Says
- Zimbabwe Begs For Aid To Avoid "Collapse"
- BoE Warns Of Worst Economic Slump In 300 Years
- Venezuela charges Americans with terrorism, conspiracy

- Blue Angels, Thunderbirds fly over Atlanta in salute to first responders
- Georgia's Reopening Has Been 'A Disaster' For Some Retailers Desperate For Revenue
- Atlanta mayor reacts to packed streets on Cinco de Mayo
- White father, son charged with murder in Ahmaud Arbery case

- Cops in tense stand-off with thousands of protesters demanding California beaches are reopened after Gov. Gavin Newsom's shut them down to contain coronavirus
- Protests mark growing unrest with California stay-home order
- Dallas salon owner jailed for reopening in violation of court order
- Thousands Donate To GoFundMe For Jailed Salon Owner Who Stood Up To Judge In Viral Video

Real estate
- Commercial Real Estate Already Gets Hit in Europe: Prices for Retail Properties Plunge, Office Prices Sink
- Kentucky REALTORS report sellers aren’t yet reducing prices as buyers stop looking
- Massive Drop in Homebuyer Interest

- Bone-Chilling WTF Charts of the Collapse in US Demand for Gasoline, Jet Fuel, and Diesel

- U.S. beef output is down way more than shutdowns suggest
- Meat Shortages Leave Wendy’s Diners Asking, ‘Where’s the Beef?’
- Costco is limiting how much meat customers can buy
- Beef Prices Explode To Record High As More Stores Limit Meat Purchases
- The American meat shortage is pushing prices to unprecedented heights — here's how it could affect your grocery bill

- Coronavirus survivors banned from joining the military

- We Should All Be Preppers

- Newspaper’s Top Editor Is Now a ‘Homeless’ Blogger
- NBC News Chairman Andy Lack Stepping Down

- Record heat returns to the West and record cold plunges into the East

- Tracking the ‘Murder Hornet’: A Deadly Pest Has Reached North America

- Some States Slowly Reopen for Business: Pictures

- We Are Living in a Failed State
- To save the economy, the Federal Reserve should drop interest rates to less than zero
- A radical idea to rescue U.S. households now—without adding to the national debt

Posted: 2020-05-08 17:51:40

Gold, Bullion banking, LBMA, and COMEX


- From French word bouillon ("boiling")
- Gold, silver in the form of bars, ingots, or specialized (uncirculated) coins

Bullion banking
- Banking based on gold
- Uses fractional reserve system (15,000 times)
- Book money (non-allocated gold certificates - 1.5 million tonnes) is derived from base money (physical bullion - 100 tonnes).
- Around 35 bullion banks in the World
- Customers: central banks, precious metals brokers, financial institutions, investment funds, mining companies, precious metals refineries, precious metals mints, jewellery fabricators, bullion wholesalers, and industrial fabricators.

- London Bullion Market Association (LBMA)
- Trades unallocated gold over the counter (OTC)
- Determines gold spot price
- Twice each business day, five members of The London Gold Market Fixing Ltd. meet to determine gold trading prices ("benchmarks") - Sociét é Générale, Barclays, Deutsche Bank, HSBC, and Scotiabank
- 13 market makers - BNP Paribas, Citibank, Goldman Sachs International, HSBC, ICBC Standard Bank, JP Morgan Chase, Merrill Lynch International, Morgan Stanley & Co International, Société Générale, Standard Chartered Bank, The Bank of Nova Scotia – Scotia Mocatta, Toronto-Dominion Bank and UBS.
- 95% of Transactions in the London Precious Metals Markets are in Unallocated Metal

- Commodity Exchange (COMEX)
- Run by Chicago Mercantile Exchange (CME)
- Operates in World Financial Center in Manhattan
- Trades cash-settled gold, silver, copper futures contracts
- Determines gold futures price
- Prices determined by free market
- Over 381,000 contracts per day
- Open for trading 24 hours a day
- Mostly used for hedging and are not typically delivered upon
- Less than 1% of the trades actually go to delivery
- COMEX does not supply precious metals

Exter Inverted Pyramid
- Created by John Exter
- Visualization of asset classes in terms of risk and size
- Gold is at base of all assests which has no counter-party risk nor credit risk
- Top of inverted pyramid is over $640 trillion in derivatives

The Secret World of Bullion Banking: Who Sets Gold Prices?
Bullion Banking
Wikipedia - Bullion
Trading COMEX Gold and Silver
Bullion Banking Mechanics
Bullion Banking 101
John Exter’s Inverted Pyramid of Assets
The Exter Inverted Pyramid of Global Liquidity Credit risk, Liquidity and Gold
The looming derivative crisis

Posted: 2020-05-03 21:22:03

Coronavirus update May 1

Financial Crisis, Current Events

- Singaporean who breached coronavirus stay-home notice to eat bak kut teh sentenced to 6 weeks' jail
- Sunday’s Boston Globe runs 21 pages of death notices as coronavirus continues to claim lives
- Losing It: 72% Of Locked-Down Americans Say They’ll Reach ‘Breaking Point’ By Mid-June
- McCaughey: Homemade Masks Only 2 Percent Effective
- Coronavirus antibody tests have "really terrible" accuracy, researcher says
- CDC Extends Social Distancing Guidelines To Apply To Pets
- Dozens Of Bodies Found In Unrefrigerated Trucks Near Brooklyn Funeral Home

- Coronavirus cash crunch leading to more Americans withdrawing from 401k accounts
- The coronavirus has caused a wave of early retirement
- Unprecedented Pace Of Corporate Debt Issuance Has Crippled Corporate Fundamentals
- Mnuchin: 'You're going to see the economy really bounce back in July, August, September'
- COVID-19 jobless rates will be comparable to Great Depression: Trump economic adviser
- White House Economic Adviser: Q2 GDP Will Be Biggest Negative Number Since Great Depression; -20% To -30%
- GM Suspends Dividend, Stock Buyback Program To Preserve Cash
- For Houston, a One-Two Punch: ‘It’s Going to Be Devastating’
- Mnuchin Says It's "Highly Unlikely" Fed Will Buy Stocks; "Poorly Managed States" Won't Get Bailout
- Tesla Drops Its D&O Insurance, Says Elon Musk Will Now "Personally Provide Coverage"
- Why Illinois Is In Trouble – 109,881 Public Employees With $100,000+ Paychecks Cost Taxpayers $14B
- Uber reportedly may cut around 20% of workforce; CTO resigns
- Coronavirus Relief Often Pays Workers More Than Work
- Greenspan Sees Rebound After 'Pretty Awful' Second Quarter
- The U.S. economy shrank at a 4.8% annual rate in the first quarter, its biggest contraction since the recession in 2008.
- Dividend Massacre in This Crisis is Already Breaking Records, But it Just Started
- U.S. jobless claims climb 3.8 million in late April to push coronavirus total to 30 million
- US Consumer Spending Collapses By Record, Worse Annual Drop Than Peak Of Lehman Crisis
- Fed’s Powell Says More Spending Will Be Needed From Congress
- US pending home sales sank 20.8% in March
- U.S. Stocks Have Their Best Month Since 1987
- Consumer Spending Plunges Record 7.5% on Virus Fears, Job Losses
- April Will Be The Worst Month On Record For Auto Sales
- $6.66 Trillion
- Investors Baffled By Soaring Stocks In ‘Monster’ Depression
- New orders reading in key ISM factory index is at its worst since the 1950s
- Stymied in Seeking Benefits, Millions of Unemployed Go Uncounted
- Congressman warns national debt could reach $30 trillion by end of September
- US Manufacturing Surveys Show Record Collapse In Output, Orders, & Jobs
- Amazon Extends Work-From-Home Policy Through Oct. 2
- Mnuchin Requests Private Schools Return PPP Loans
- Elon Musk tweets that Tesla shares are ‘too high’
- U.S. Homeowners are Increasingly Delaying Mortgage Payments

- Trump says briefings not worth his time after disinfectant gaffe
- Gavin Newsom Declares California a ‘Nation-State’
- Trump Says 'COVID Reparations' Coming: US Will Bill China At Least $160 Billion
- "I Don't Need A Lecture": Pelosi Praises Biden For His Response To Sexual Assault Allegations Despite Biden Not Responding
- Biden Denies Tara Reade’s Assault Allegation: ‘This Never Happened’
- The Finance 202: Trump officials spook economists with talk of skipping debt payments to China
- Trump Will Thwart Investment of US Pension Funds In China
- Why Won’t TV News Book Tara Reade?
- Prominent Democratic women are standing by Joe Biden amid Tara Reade's sexual assault claim

- Japan mayor under fire for 'women dawdle at shops' remark
- ‘There Are No Viruses Here’: Leader of Belarus Scoffs at Lockdowns
- Singapore to propose law to enable virtual marriage solemnisations amid Covid-19 outbreak
- New Zealand’s Prime Minister May Be the Most Effective Leader on the Planet
- Central America: Unrest, repression grow amid coronavirus crisis
- From private testing for the rich to unrest in banlieues, coronavirus is highlighting France's stark divide
- Macron issues ultimatum to Europe's German bloc: cough up Covid trillions or lose the single market
- Mexico's Pemex bleeds more red ink in nearly $24 billion quarterly loss
- European Central Bank to allow banks to borrow at minus 1 percent
- Swedish city to dump tonne of chicken manure in park to deter visitors
- Deutsche Bank Capitulates: Starts Charging Negative Rate On All New Deposit Accounts Over €100,000
- UK Headed For "Deep Recession" As Manufacturing Activity Sees Record Slump In April
- In Lockdown, Delhi Is Frozen in Fear and the Present Tense
- Spanish Beach Sprayed With Bleach, Causing “Brutal Damage” to Local Animals

- Georgia unemployment claims reach 1.3M since mid-March

- Reopening Has Begun. No One Is Sure What Happens Next.
- A Few Thousand Protest Stay-at-Home Order at Wisconsin State Capitol
- This Japanese Island Lifted Its Coronavirus Lockdown Too Soon and Became a Warning to the World
- Protests Mount To Reopen the Country: Pictures
- California heat wave draws large crowds to beaches despite stay-at-home order
- 'I want my life back': Germans protest against lockdown
- Governor Set to Close All Beaches and State Parks in California
- Hundreds of protesters, some carrying guns in the state Capitol, demonstrate against Michigan's emergency measures

- Head of Russian hospital falls 50 feet during coronavirus call
- Exasperation Grows Over Delays Trying To Sign Up For Unemployment, ‘People Have No Food, People Are Talking About Suicide’
- Top Manhattan ER doc commits suicide, shaken by coronavirus onslaught
- EMT John Mondello kills himself after less than three months on the job
- Second Russian doctor plunges to their death amid coronavirus outbreak
- Doctor who recovered from coronavirus dies by suicide, police say

- USS Kidd, another Navy warship at sea, reports a coronavirus outbreak

- Violent Food & Fuel Shortage Riots Grip Venezuela Amid COVID-19 Lockdown
- U.S. Reels Toward Meat Shortages and the World May Be Next
- A New Problem Is Brewing in the Beer Industry: One Million Kegs Are Going Stale
- Zimbabwe food crisis worsens with COVID-19 lockdown extension
- American Farms Cull Millions Of Chickens Amid Virus-Related Staff Shortages At Processing Plants
- National Guard Deployed At Nation's Food Banks To Ensure Stability During Unprecedented Times
- USDA let millions of pounds of food rot while food-bank demand soared
- Warnings of unrest mount as coronavirus hits food availability
- Tyson Foods chairman offers dark warning about the food supply chain as processing plants close
- Trump to Invoke Defense Production Act: Who Will Be Forced to Work at Meat Plants?
- Food Lines a Mile Long in America’s Second-Wealthiest State
- Powerful Meat Industry Holds More Sway After Trump’s Order
- McDonalds Starts To Ration Meat Amid Supply Chain "Concerns"
- Kroger is limiting ground beef and pork purchases in some stores
- An Idaho farm is giving away 2 million potatoes so they don’t go to waste

- Why More Than Two Dozen Oil Tankers Are Anchored Off the Southern California Coast
- In 2020 Oil-Exporters' Income Will Plunge By Over $1 Trillion, Forcing Widespread Stock Liquidations
- Diamond Offshore files for bankruptcy, stock plunges
- Exxon Reports First Quarterly Loss In 32 Years

Precious metals
- Australia Flies Gold Bars 11,000 Miles to New York to Ease Supply Squeeze
- The World's Oldest Gold Trader Is Closing
- Silver hasn’t been this cheap in 5,000 years of human history
- After Gold & Oil Contract Chaos, CME Group Secures $7 Billion Credit Line "In Case Of COMEX Member Default"

- Italian Town Creates New Currency to Cope With COVID-19

- 50 million Americans at risk for next severe weather outbreak

- Trump Says 'Unidentified Aerial Phenomena' Clip Is 'Hell of a Video': 'I Just Wonder If It’s Real'
- Harry Reid Says Footage of UFOs 'Only Scratches The Surface'

- Tanker vessels anchored off the coast of Southern California

Posted: 2020-05-01 22:29:41

Labor force and unemployment


US Population

- March 2020 US population size: 260 million

Labor force size

- 2020 US labor force size: 164.6 million
- Labor force (workforce) - sum of the employed and the unemployed
- "persons 16 years of age and older residing in the 50 States and the District of Columbia who are not inmates of institutions (penal and mental facilities, homes for the aged), and not on active duty in the Armed Forces"
- Does not include students, retired, homemakers, underemployed, marginally attached workers, discouraged workers


- People 16 years or older who are not employed, but available for work and actively looked for a job within the past four weeks.
- People who would like to work, but haven't actively looked for it in the last month are not counted

Labor force participation rate

- March 2020 labor force participation rate: 62.7%
- Labor force participation rate (LFPR) = Labor Force / Total cohort population
- Labor force participation rate peaked in 2000 with 67.3%
- Male LFPR declining since 1950

Official unemployment rate (U-3)

- Only includes labor force (does not include underemployed, marginally attached workers, discouraged workers)
- Typically only this is mentioned by officials and media

Real unemployment rate (U-6)

- Includes labor force and underemployed, marginally attached workers, discouraged workers
- Generally double the U-3 rate
- Not typically mentioned by officials and media

Wikipedia - Labor force in the United States
FRED - Labor Force Participation Rate
BLS - Civilian labor force participation rate
Real Unemployment Rate With Calculations

Posted: 2020-04-29 07:37:59

Coronavirus update April 24

Current Events, Financial Crisis

- US officials confirm full-scale investigation of whether coronavirus escaped from Wuhan lab
- Chinese Communist Subversion of WHO Undermined Global Pandemic Response
- Covid-19 is rapidly becoming America’s leading cause of death
- Can the coronavirus be spread through farts?
- Coronavirus has mutated into 30 strains and the one ravaging Europe is more deadly than the US strain, Chinese study finds
- In New York’s largest hospital system, 88 percent of coronavirus patients on ventilators didn’t make it
- Elizabeth Warren’s oldest brother has died of coronavirus
- ‘We will not have a vaccine by next winter.’ Like Spanish flu of 1918, CDC says second wave of coronavirus could be ‘even more difficult.’ Will herd immunity help?
- Trump's disinfectant idea shocking and dangerous, doctors say

- The Trickle-Up Bailout
- The Finance 202: Alarming new data show the worst might be ahead in a coronavirus economy
- Walmart to require employees to wear face masks Monday
- Record government and corporate debt risks 'tipping point' after pandemic passes
- Construction industry hit hard, even as states deem it an ‘essential service’
- Coronavirus job losses hit these 10 states the hardest
- Billionaire Branson Asks For Government Money To Save Virgin Atlantic, Claims He ‘Did Not Leave Britain For Tax Reasons’
- Harvard And Other 'Well Endowed' Colleges Face Backlash For Tapping Tens Of Millions In Stimulus Funds
- Fed's National Activity Index Crashes Into Deep Recession Territory
- The Market Is Breaking... Everywhere
- Demand for Bank Notes in Dollars & Euros Spikes Despite Fears of Covid-19 Contaminated Cash
- Oil Crash Accelerates, Rippling to Currencies and Stocks
- Central Banks Have Pumped An Annualized $23.4 Trillion Into The Financial System
- Existing Home Sales Tumble In March, Face 40% Collapse, NAR Warns
- Treasury Yields Are Tumbling... 5Y Just Hit Record Lows
- Here Are The 'Publicly Traded' Companies That Quietly Got A 'Small Business' Bailout
- The Death of the Department Store: ‘Very Few Are Likely to Survive’
- Killed By The Coronavirus Lockdowns: 1000s Of U.S. Businesses That Were Shut Down Will Be Closed Permanently
- Here are the largest public companies taking payroll loans meant for small businesses
- Harvard says to keep stimulus grant after Trump vows it will be returned
- Market Mayhem Meets Liquidity Mismatch: “At Least” 76 Mutual Funds in Europe Were “Gated” in March
- GM And Ford Are One Step Closer To Losing Billions On Used Car Price Plunge
- S&P 500 companies spent $7 trillion on buybacks and dividends and “been rewarded’ by coronavirus bailouts, says Social Capital CEO
- More Than 4 Million Workers Filed Jobless Claims: Live Updates
- US New Home Sales Have Never Dropped This Much In March... Ever
- Treasury Orders Public Companies To Repay PPP Loans Meant For Small Businesses
- Get Ready for the Return of Inflation
- Treasury gives big public companies until May 7 to return loans meant for small businesses
- US Durable Goods Orders Collapse In Early March Data
- US factory orders plunge 14.4% as economy grinds to halt
- "It's The Perfect Storm" - SoftBank Reports Staggering $25 Billion Q1 Loss
- U.S. Fed balance sheet increases to record $6.62 trillion
- Consumer Sentiment Improved In Early April Before Crashing Again
- Major U.S. credit card issuers begin lowering customer spending limits
- The Congressional Budget Office forecasts a $3.7 trillion deficit, a 5.6% economic contraction and an unemployment rate of nearly 12% by year’s end

- This is where all 50 states stand on reopening
- Massachusetts Joins New York, New Jersey, Connecticut, Pennsylvania, Delaware and Rhode Island's Multi-State Council to Get People Back to Work and Restore the Economy
- Georgia Will Become First State In The US To Reopen: Live Updates
- Trump Temporarily Suspends All Immigration Into The United States
- Trump Announces 60-Day Pause On Immigration For ‘Individuals Seeking Permanent Residency’
- Mayor Lightfoot Says Stay-At-Home Order Could Go Into June
- Trump reverses course, says it's 'too soon' for Georgia Gov. Kemp to reopen state
- "Most, If Not All" Of The American Economy Should Reopen By Summer's End, Mnuchin Says
- Trump signs into law $484 billion bill that replenishes coronavirus aid program for small businesses

- Pentagon to ask U.S. Congress for emergency coronavirus funds to support defense industry

- Riots and looting in Cape Town as Africa suffers 1,000 coronavirus deaths
- Coronavirus journey: The 'last cruise ship on Earth' finally comes home
- German Lawyer Who Criticized Lockdown Arrested, Taken To Psych Ward
- A million Brits are set to have their wages paid by the state as firms rush to join new compensation scheme
- US source: North Korean leader in grave danger after surgery
- Second night of riots as Paris locals react with fury over 'racist' police attacks on minorities during coronavirus lockdown
- Indonesia's Palu endured a triple disaster, now coronavirus looms
- Japan to boost stimulus to $1.1 trillion as virus threatens deeper recession
- China's fiscal revenue plunges 26.1% as virus ravages economy
- Netanyahu and rival Gantz clinch Israel power-sharing dealrm-emergency-governmen
- Israelis Just Showed the World What a Socially Distant Protest Looks Like
- Rampage leaves 18 dead in Canada's worst mass shooting
- Once safer than gold, Canadian real estate now facing its acid test
- Official unemployment numbers don’t show the true crisis for workers affected by coronavirus
- Germany Cancels Oktoberfest Over Coronavirus Fears
- Migrant Areas of Paris Hit With 3rd Consecutive Night of Riots
- Japanese PMI Collapses To Record Low, Signals 10% Crash In GDP
- New coronavirus outbreak in northern China puts city of 11 million on lockdown
- Eurozone economy suffers 'unprecedented' collapse
- Debt Monetization Creeps Closer by the Day in New Zealand
- NZ central bank governor says not ruling out negative interest rates
- BOJ To Launch Unlimited QE, Double Corporate Bond Purchases
- "Unprecedented Damage To The Euro Zone" - European PMIs Hammered By Record Collapse
- When $8 Trillion in Global Fiscal Stimulus Still Isn’t Enough
- Ecuador’s Death Toll During Outbreak Is Among the Worst in the World
- In Pictures: Lockdown adds to India's slum dwellers' woes
- Germany requires everyone to wear a face mask as coronavirus spreads

- Georgia to allow some shuttered businesses to reopen amid pandemic
- Georgia mayors blindsided by Brian Kemp’s decision to let businesses reopen
- ‘There’s nothing essential about going to a bowling alley,’ says Keisha Lance Bottoms
- Georgia's Covid-19 reopening pits white governor against black mayors
- “I’m being forced to choose between my health and my job”: Georgia’s controversial reopening plan, explained
- ‘Wuhan Plague’ plaques found on Atlanta businesses, streets

- Hundreds swarm Florida beaches following reopening amid pandemic
- ‘This Government Is Lucky’: Coronavirus Quiets Global Protest Movements

- More than HALF of Los Angeles workers are now unemployed just one month into coronavirus lockdowns
- Coronavirus Sends One-Fifth of Workers to Unemployment Line in Some States
- States Burn Through Cash for Unemployment Payments
- Coronavirus furloughs begin for more than 100,000 Disney, Best Buy, CarMax workers
- ‘Florida Is a Terrible State to Be an Unemployed Person’

Personal finances
- Who Has Enough Cash to Get Through the Coronavirus Crisis?

- Here's why you should care coronavirus is obliterating the media
- The Coronavirus Is A Media Extinction Event
- News Media Outlets Have Been Ravaged by the Pandemic
- Fighting COVID-19 goes hand-in-han
- “A Darwinian Moment”: The Coronavirus Is Blowing Up the Media Landscape

- "The Hit Is Huge": Colleges Brace For 'Fatal' Blow Of Next Fall As Face-To-Face Instruction Uncertain

- California, rest of the West sinking into a rare mega-drought, scientists say
- California and West suffering worst ‘megadrought’ in centuries, study of tree rings shows
- Southern States Face Giant Hail and Tornadoes for the Second Weekend in a Row
- Severe weather may target one region of US for several weeks

- Historic Oil Crash Sends Canadian Oil Prices Negative
- U.S. oil tumbles toward biggest one-day drop in history, off more than 38% near expiration as crude’s woes continue
- Oil market in ‘super contango’ underlines storage fears as coronavirus destroys crude demand
- In a historic plunge, the U.S. oil May benchmark fell 300% to a negative $37.63 a barrel
- Singapore giant oil trader Hin Leong failed to declare $1.14 billion losses
- Oil export price for Mexico's Pemex dips into negative territory
- World's Biggest Oil ETF Suspends Sales Of Creation Baskets: "This Shock Is Real... Be Very Careful Out There"
- The Third Largest Oil ETN Is Liquidating
- "Yesterday Was Scary, Today Is A Lot More Scary": Black Gold Bloodbath As 'Paper' Oil Plunges Everywhere
- ‘I’m Just Living a Nightmare’: Oil Industry Braces for Devastation
- USO Oil ETF To Execute 1-For-8 Reverse Stock Split
- About 150-years of oil-price history in one chart illustrates crude’s spectacular plunge below $0 a barrel

Precious metals
- "Lethal For Bullion Banks" - The Looming $600 Trillion Derivatives Crisis

- Mile-Long Line Of Cars Waiting ... In Between Luxury Hotels
- It's Not Just Toilet Paper, Seed Shortages Spread As Locked-Down Americans Turn To Growing Their Own Food
- Schools Transform Into ‘Relief’ Kitchens, but Federal Aid Fails to Keep Up
- Meat Prices Suddenly Surge As Food Processing Plants Shut Down, With 1000s Of Tons Left To Spoil
- Food-Shortage Fears Well-Founded? Tyson Closes Nation's Largest Pork Plant Over COVID Concerns
- Five threats to US food supply chains
- Coronavirus pandemic 'will cause famine of biblical proportions'
- Coronavirus-driven CO2 shortage threatens US food and water supply, officials say
- The Meat Number That Makes Even Naysayers Worry About Shortages
- Missouri Pork Plant Workers Say They Can’t Cover Mouths to Cough
- Grocers Hunt for Meat as Coronavirus Hobbles Beef and Pork Plants

- Why it’s not so crazy that stocks are rising even though 26 million people are out of work

Posted: 2020-04-24 16:18:31

Georgia Unemployment

Current Events, Financial Crisis

- Michigan, Georgia, and Alabama the top states with largest percentage unemployment filings
- On March 14, almost 1 million Georgians filed for unemployment
- Almost 10% unemployment
- 1500% from this time last year
- More claims processed in a single month than the entire year of the 2007 recession
- Sectors affected: accommodation, food services, health care, social assistance, trade
- Size of Georgia unemployment trust fund - $2.5 billion

Coronavirus job losses hit these 10 states the hardest
Georgia Department of Labor: 10 percent state’s entire population filed for unemployment
Georgia struggling with “unprecedented” unemployment levels
Georgia unemployment claims reach record high in March

Posted: 2020-04-21 00:09:14

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