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Bullion, Big-Tech, & Black Gold Bid; Bitcoin Battered As Bond Curve Steepens The big story of the day today was the acceleration of the recession/QE trade – a return to growth over value… Source: Bloomberg Which meant long-duration tech dominated the gains today (with Nasdaq up  over 2% and S&P outperforming). Dow and Small Caps…

Biden’s “Absolute” Defense Of Hunter Leaves Media & Justice Department In A Muddle Authored by Jonathan Turley, Below is my column in The Hill on President Joe Biden doubling down on his absolute defense of his son Hunter Biden. The comments only magnify the concerns over Attorney General Merrick Garland refusing to appoint a special counsel despite…

Bill Maher: The Left-Wing Media “Buried” Hunter Biden Story Because It “Wasn’t Part Of Their Narrative” The mainstream media’s decision to admit – more than a year after the fact – that the Hunter Biden laptop story was, in fact, legitimate (and not the product of ‘Russian disinformation, as a procession of high-ranking Democrat spies…

Morgan Stanley: Embrace The Late-Cycle Playbook By Andrew Sheets, Morgan Stanley Chief Cross-Asset Strategist Most of my meetings this week focused on yield curve inversion, a sign that the topic is either top-of-mind or is so widely discussed that everyone is tired of talking about it. Or maybe both. (As one investor put it this week, “We’re…

Sri Lanka Cabinet Offers To Resign As Out-Of-Control Inflation Sparks Widespread Social Unrest Update (1535ET): Bloomberg reports that Sri Lanka’s cabinet has submitted its resignation, a ruling party member said, amid rising public anger about the government’s economic policies that have led to soaring living costs and a foreign exchange crisis. “We gave resignations to…

Pentagon Clarifies There’s No “Offensive” Bioweapons At US-Linked Ukraine Labs Authored by Dave DeCamp via AntiWar.com,  A Pentagon official told Congress on Friday that there are no “offensive” biological weapons in any of the dozens of US-linked labs in Ukraine. “I can say to you unequivocally there are no offensive biologic weapons in the Ukraine laboratories that…

Tech Rout Leads To Record 34% Loss At Tiger Global’s Hedge Fund Back in December, when stocks were still trading at all time highs and few traders were concerned about selling, we waved goodbye to liquidity and wrote that “one of the main reasons sophisticated, wealthy investors would pick hedge funds over private equity firms…

The 19 Millionth Bitcoin Has Been Mined: Why It Matters Authored by ‘NAMCIOS’ via BitcoinMagazine.com, With less than two million bitcoin left to be mined, Bitcoin’s limited supply has just gotten even more limited… The 19 millionth bitcoin has just been mined, data from Bitbo shows, leaving less than two million BTC remaining for miners to put…

Biden State Department Will Begin Issuing ‘X Gender’ Passports Next Month Pretty soon, the concept of gender on American passports will become all but obsolete. Because starting next month, American citizens will be able to apply for “X gender” passports, according to the State Department. Starting April 11, “US citizens will be able to select…

Escobar: Meet The New, Resource-Based Global Reserve Currency Authored by Pepe Escobar, A new reality is being formed: the unipolar world is irrevocably becoming a thing of the past, a multipolar one is taking shape. It was something to behold. Dmitri Medvedev, former Russian President, unrepentant Atlanticist, current deputy chairman of the Russian Security Council,…

Banks Battered & Trannies Trounced Amid Yield Curve & Commodity Carnage After a big start to the week, Weds, Thurs, and Fri all saw significant selling pressure across month-, quarter-end with The Dow and S&P the laggards, with only a last-minute panic bid taking Nasdaq and Small Caps green and dragging Dow and S&P up…

Taibbi: “Regime Change” Doesn’t Work, You Morons Authored by Matt Taibbi via TK News, Not long ago, candidate Joe Biden’s most troubling behavioral tendency was the surprise outburst of belligerence. Campaigning, he’d challenge questioners to push-up contests, jam fingers in the sternums even of supporters, and plunge into rambling monologues about leg hairs and chain-fights.…

Global Bonds Suffer Worst Drawdown Ever As Massive March ‘Squeeze’ Rescues Stocks From Rout Q1 was unreal… Global Bonds – worst drawdown ever US Bonds – 3rd worst Q1 since the Civil War US Yield Curve – greatest Q1 flattening ever Commodities – best start to a year ever Oil – best start to a…