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Ukrainian Drone Strikes Target Russian Oil Refineries Again Despite White House Pleas
Ukrainian Drone Strikes Target Russian Oil Refineries Again Despite White House Pleas
Just days after the Biden administration signed a new military aid package worth billions of dollars to Ukraine, Kyiv launched a series of suicide drone attacks on Russian oil refineries. Biden’s top officials have pleaded with Kyiv to stop attacks on Russia’s energy infrastructure because of the fears that turmoil in crude markets would send pump prices in the US higher ahead of the presidential elections in November.
“Our region is again under attack by Ukrainian UAVs,” Smolensk Governor Vasily Anokhin wrote in a post on Telegram on Wednesday. Kamikaze drones damaged oil facilities in western Russia.
Another drone attack hit the Lipetsk region further south, which is home to steel production plants and pharmaceutical sites, Governor Igor Artamonov said.
“The Kyiv criminal regime tried to hit infrastructure in Lipetsk industrial zone,” Artamonov said.
The Moscow Times pointed out:
A source in the Ukrainian defense sector confirmed to AFP on Wednesday that drones in the service of the Security Service of Ukraine (SBU) had carried out the attacks.
The source made no mention of the attack on Lipetsk but claimed two oil depots were destroyed in the Smolensk region.
“Rosneft lost two storage and pumping bases for fuels and lubricants in the towns of Yartsevo and Rozdorovo,” the source said, referring to the Russian state-controlled energy giant.
The Financial Times, citing unnamed US officials, recently said long-range drones have hit at least 20 energy facilities deep within Russia so far this year. Kyiv’s drone attacks on Russia’s energy complex have been frightening for the Biden administration, as Brent prices have risen to the $90/bbl level on higher war risk premiums. Higher energy costs feed into inflation as stagflation concerns mount in the US. Also, gasoline pump prices in the US are inching closer to the politically sensitive $4 level.
…click on the above link to read the rest of the article…
UK Defense Chief Says Ukraine To Increase Long-Range Strikes In Russia
UK Defense Chief Says Ukraine To Increase Long-Range Strikes In Russia
Just as President Biden was signing into effect the newly approved foreign defense package which includes $60 billion for Ukraine, the United Kingdom also rolled out its own massive aid package (though paling in comparison), first unveiled Tuesday.
Britain announced its single largest aid package for Ukraine yet, at the equivalent of $620 million (£500 million). According to UK NATO officials, the arms include Storm Shadow missiles among a total of 1,600 strike and air defense missiles, four million rounds of ammo, 60 boats, and over 400 vehicles.
Even though the White House is busy cautioning that in the coming months Russia is likely to make more gains on the front lines, according to fresh words of Jake Sullivan, British leadership is still talking about “winning”.
Defense Minister Grant Shapps, for example, had this to say about new aid: “This record package of military aid will give President Zelensky and his brave nation more of the kit they need to kick Putin out and restore peace and stability in Europe.”
“The UK was the first to provide NLAW missiles, the first to give modern tanks, and the first to send long-range missiles,” he added. “Now, we are going even further. We will never let the world forget the existential battle Ukraine is fighting, and with our enduring support, they will win.”
Britain’s military leadership is also echoing this optimism, with UK defense chief, Admiral Sir Tony Radakin, telling Financial Times that the West’s new infusion of military aid will help Ukraine increase its long-range strikes on Russian territory:
Ukraine is set to increase long-range attacks inside Russia as an influx of western military aid aims to help Kyiv shape the war “in much stronger ways”, the head of the UK military has said.
…click on the above link to read the rest of the article…
Cashless Society: WEF Boasts That 98% Of Central Banks Are Adopting CBDCs
Cashless Society: WEF Boasts That 98% Of Central Banks Are Adopting CBDCs
Whatever happened to the WEF? One minute they were everywhere in the media and now they have all but disappeared from public discourse. After the pandemic agenda was defeated and the plan to exploit public fear to create a perpetual medical autocracy was exposed, Klaus Schwab and his merry band of globalists slithered back into the woodwork. To be sure, we’ll be seeing them again one day, but for now the WEF has relegated itself away from the spotlight and into the dark recesses of the Davos echo chamber.
Much of their discussions now focus on issues like climate change or DEI (Diversity, Equity, Inclusion), but one vital subject continues to pop up in the white papers of global think tanks and it’s a program that was introduced very publicly during covid. Every person that cares about economic freedom should be wary of Central Bank Digital Currencies (CBDCs) as perhaps the biggest threat to human liberty since the attempted introduction of vaccine passports.
The WEF recently boasted in a new white paper that 98% of all central banks are now pursuing CBDC programs. The report, titled ‘Modernizing Financial Markets With Wholesale Central Bank Digital Currency’, notes:
“CeBM is ideal for systemically important transactions despite the emergence of alternative payment instruments…Wholesale central bank digital currency (wCBDC) is a form of CeBM that could unlock new economic models and integration points that are not possible today.”
The paper primarily focuses on the streamlining of crossborder transactions, an effort which the Bank for International Settlements (BIS) has been deeply involved in for the past few years…
…click on the above link to read the rest of the article…
Shipping Industry Pleads With UN For “Enhanced Military Presence” As Maritime Choke-Point Chaos Spreads
Shipping Industry Pleads With UN For “Enhanced Military Presence” As Maritime Choke-Point Chaos Spreads
Exactly one week ago, Iranian commandos seized a container ship affiliated with Israel as it passed through the Strait of Hormuz. This action sparked new fears of another maritime chokepoint becoming disrupted as the crisis in the Middle East escalated. It also prompted a plea by the international shipping industry to the United Nations, urging an increase in military patrols along key shipping routes.
First reported by the maritime news website gGaptain, an open letter co-signed by 16 maritime industry associations and social partners, calls for urgent assistance and reminds countries about their responsibilities under international law.
“However, the incident this weekend, when the vessel MSC Aries was seized by Iranian forces at 06.37 UTC – 50 nautical miles north-east of Fujairah, United Arab Emirates on Saturday 13 April, has once again highlighted the intolerable situation where shipping has become a target. This is unacceptable,” the signatories of the letter stated.
“Given the continually evolving and severe threat profile within the area, we call on you for enhanced coordinated military presence, missions and patrols in the region, to protect our seafarers against any further possible aggression,” they said, adding, “The industry associations ask that all member states be formally reminded of their responsibilities under international law. And we ask that all efforts possible are brought to bear to release the seafarers and protect the safe transit of ships.”
After the MSC Aries seizure in the Strait of Hormuz, we published a note titled “Heading For Supply Shock? Four Maritime Chokepoints Flash Red As Escalating Conflict Looms,” outlining the maritime chokepoints, including the Suez Canal, Bab-El Mandeb Strait, and Strait of Hormuz, through which a quarter of all global trade flows, that are experiencing increased conflict.
In a recent note, MUFG provided a global snapshot of the world’s maritime chokepoints.
…click on the above link to read the rest of the article…
The Purpose Of War According To George Orwell (1984)
The Purpose Of War According To George Orwell (1984)
Some food for thought from George Orwell’s ‘1984’…
Does anything really ever change? (emphasis ours)
The primary aim of modern warfare is to use up the products of the machine without raising the general standard of living.
Ever since the end of the nineteenth century, the problem of what to do with the surplus of consumption goods has been latent in industrial society. From the moment when the machine first made its appearance it was clear to all thinking people that the need for human drudgery, and therefore to a great extent for human inequality, had disappeared. If the machine were used deliberately for that end, hunger, overwork, dirt, illiteracy, and disease could be eliminated within a few generations. And in fact, without being used for any such purpose, but by a sort of automatic process — by producing wealth which it was sometimes impossible not to distribute — the machine did raise the living standards of the average human being very greatly over a period of about fifty years at the end of the nineteenth and the beginning of the twentieth centuries.
But it was also clear that an all-round increase in wealth threatened the destruction — indeed, in some sense was the destruction — of a hierarchical society. In a world in which everyone worked short hours, had enough to eat, lived in a house with a bathroom and a refrigerator, and possessed a motor-car or even an aeroplane, the most obvious and perhaps the most important form of inequality would already have disappeared. If it once became general, wealth would confer no distinction. It was possible, no doubt, to imagine a society in which wealth, in the sense of personal possessions and luxuries, should be evenly distributed, while power remained in the hands of a small privileged caste.
…click on the above link to read the rest of the article…
Did UAE’s Cloud-Seeding Operation Flood Dubai?
Did UAE’s Cloud-Seeding Operation Flood Dubai?
How it started with UAE’s cloud seeding operations:
How it’s going:
Not so well…
All inbound flights to Dubai International Airport were diverted on Tuesday evening.
“It’s certainly not just cloud seeding. The convective clouds that are associated with the sorts of stormy weather we’re facing form entirely naturally,” UAE news website What’s On said.
Perhaps the government playing God by fiddling with Mother Nature has unintended consequences…
Biden Tells Bibi: US Will Not Support A Counterattack Against Iran After Hundreds Of Drones, Missiles Sent
Biden Tells Bibi: US Will Not Support A Counterattack Against Iran After Hundreds Of Drones, Missiles Sent
Update(Midnight ET): It is just after 7am Israel local time and Israel’s military is reporting the Iranian attack has stopped, several hours after Iran said its ‘limited’ operation has “concluded” – which involved an unprecedented hundreds of suicide drones as as well as ballistic missiles sent against Israel in retaliation for the April 1st Israeli attack on Iran’s embassy in Damascus. Below is the top story from English-language Times of Israel:
Hebrew media reports claim that not a single drone or cruise missile managed to infiltrate Israeli airspace.
According to the unsourced reports, most ballistic missiles were also knocked down outside of Israeli airspace.
A report in Ynet says some 20 cruise missiles were downed short of Israel’s borders. The US, UK and Jordan helped take down many of the drones.
Israel is reporting very little damage inside the country (though previously admitting “minor damage” against at least one key airbase in the south).
After the enormous Iranian drone and missile swarm a senior Israeli official has been quoted by Israel’s Channel 12 as saying “Iran’s attack was a strategic failure.” The official added in a threatening manner, “Now they can get ready and not sleep in peace.” Israel’s war cabinet appears to be readying a military response…
Crucially, the Biden White House appears to be strongly signaling to the Netanyahu government that the attack is ‘done’ and that the United States will not back any follow-up counterattack operations against Iran:
US President Joe Biden told Prime Minister Benjamin Netanyahu that the US will not aid any Israeli counterattack on Iran, US media report, citing senior administration officials.
Axios and CNN report that message was passed during a phone call between the pair.
…click on the above link to read the rest of the article…
Middle East Crisis: Container Ship Hijacked Near Strait Of Hormuz Amid Soaring Iran Tensions
Middle East Crisis: Container Ship Hijacked Near Strait Of Hormuz Amid Soaring Iran Tensions
While Israel on Friday braced for cruise missile and suicide drone attacks, there are new reports on Saturday morning that Iranian commandos hijacked an Israeli-affiliated container ship heading towards the Strait of Hormuz.
AP News says the British military’s United Kingdom Maritime Trade Operations initially reported the hijacking of Portuguese-flagged MSC Aries, a container ship linked to London-based Zodiac Maritime. Israeli billionaire Eyal Ofer controls the international ship management company that owns and charters large vessels.
Video of the boarding has been circulating X for the past hour. However, “AP could not immediately verify the video, it corresponded to known details of the boarding, and the helicopter involved appeared to be one used by Iran’s paramilitary Revolutionary Guard, which has carried out other ship raids in the past,” the media outlet said.
According to Bloomberg data, MSC Aries was leaving a port from Dubai on Thursday and heading towards the Strait of Hormuz. The vessel’s last known position was recorded around 1256 local time on Friday off Dubai’s coast. AP noted that the ship’s transponder had been switched off.
X user Megatron called the ship’s seizure by Iran a “big game changer”:
This once again is confirming that the UAE, Saudi Arabia, Jordan and Qatar are helping Israel bypass the Houthi blockade by land route from the UAE port.
Iran is now cutting that route as well.
If Hezbollah cut the Mediterranean route with its drones, Israel could fall into a complete trade blockade.
The incident in the Strait of Hormuz is very concerning since maritime chokepoints in the region are plagued with conflict. Off of Yemen, in the Bab-El Mandeb Strait, Iran-backed Houthis have unleashed multi-month drone and missile attacks against US, UK, and Israeli vessels.
…click on the above link to read the rest of the article…
Iran Says If US ‘Interferes’ In Retaliation On Israel, American Bases Will Be Struck
Iran Says If US ‘Interferes’ In Retaliation On Israel, American Bases Will Be Struck
Update(1317ET): Israeli hospitals have been put on a high state of alert by the home command, awaiting an ‘imminent’ Iranian retaliation attack. Iran has also reportedly put the United States on notice…
Three U.S. Officials told Axios : Iran has sent a message to the U.S. through several Arab countries, that if they interfere in Iran’s response against Israel, U.S. bases in the region will be struck.
Meanwhile, Russia just chose quite the wrong moment to conduct a test-firing of an intercontinental ballistic missile from its Kapustin Yar airbase in southern Russia. The rocket was reportedly seen soaring high in the atmosphere from parts of northern Iraq and Iran, triggering concerns it was Iran beginning its attack.
Below are some breaking headlines:
- ALERT US sends reinforcements to Middle East amid fears of Iran attack: official
- A large number of Iron Dome missiles were launched in the Upper Galilee after a salvo of 50 missiles was launched from Lebanon
- Israel’s Channel 12 reports Home Front Command has sent hospitals a message in the last hour asking hospital managers to ensure staff availability.
- The White House has Confirmed a change in U.S. Force and Alert Posture across the Middle East, but has Refused to go into further details.
Hezbollah appears to have ramped up its missile salvos over northern Israel:
There are also new reports that the US Navy has parked an advanced missile ship just off Israel’s coast, readying to assist with a possible response.
* * *
Update(1116ET): At a moment US intelligence has indicated that Iran could strike Israeli soil in the next 24 to 48 hours, a top US general was spotted at an airbase in central Israel on Friday…
…click on the above link to read the rest of the article…
Crude, Food Prices Jump As Looming Israel-Iran Conflict Spark 1970s Oil Shock Fears
Crude, Food Prices Jump As Looming Israel-Iran Conflict Spark 1970s Oil Shock Fears
Larry MacDonald of The Bear Traps Report penned a very informative note last month that outlined, “2023-2024 look a lot like 1973-1974.” He said, “We’re one event away from a 1970s-style stagflation explosion…” History books remind us that the 1973 oil embargo shook the global energy market.
We were reminded of MacDonald’s note because the global benchmark Brent is currently being subjected to a major repricing event of geopolitical risk as Israel makes preparations for a potential retaliation by Tehran after a precision strike in Syria earlier this week killed top Iranian commanders.
“The market now knows that some kind of retaliation from Iran will likely come, but it doesn’t know when and where and what, and that creates a great discomfort and nervousness,” Bjarne Schieldrop, chief commodities analyst at SEB AB, told Bloomberg.
On Thursday, UBS desk trader Alexander Gray outlined several bullish factors into Brent’s surge that has the benchmark around $91/bbl handle:
- Rally / buying right into the 14:30 New York energy close – suggests heavy index fund prepositioning ahead of GSCI roll onset tomorrow where energy will be weighted in the index
- Geopolitics – reports of potential attacks within Iran and also potential retaliation toward Israel following Monday’s airstrikes.
- Bullish consensus and flow – a number of Street strategists have been out today talking about upside risk toward the $95-100 range in crude. Meanwhile, flows here have skewed toward upside buying in the options space
- Technicals – Front-month WTI crude oil just completed a ‘golden cross’ technical formation with the 50- and 200-day moving average crossover. The front month is aimed at $88.58 above; $91.08 is key as the 76.4% Fibonacci retracement level in Brent… which is precisely where Brent is trading at this moment..
…click on the above link to read the rest of the article…
Something Broke In Markets On Thursday
Something Broke In Markets On Thursday
This Friday is going to be a session for active short-term traders, and it will likely be unpleasant for investors.
Something broke in markets on Thursday. There are a few things that worry me about the latest bout of risk aversion. This is in context that I’ve been an unrelenting stocks bull since the December Fed meeting…
But now I’m uneasy…
The Thursday selloff confused people.
Initially, many blamed the comments from Fed’s Kashkari about there potentially being no US rate cuts this year.
However, a quick look at a few charts shows that (a) yields fell rather than climbed, so his hawkish lines did not impact, and (b) equities started selling off before his headlines.
It’s never a good sign when people struggle to identify why stocks have a relatively large swoon.
If an asset is weak without an obvious catalyst, it suggests that it can really get destroyed if a genuine risk materializes.
For good order, the weakness in E-minis coincided with the oil price rise that in turn followed the Netanyahu headlines.
We have key US data this morning at a time of vulnerability for the market in terms of the Fed narrative.
We’ve run a long way on the idea of the Fed being dovish despite a strong US economy.
We’re getting closer to the point where we must acknowledge that either the Fed won’t be easing soon, OR the economy is in more trouble than we thought.
It means that we’re in the unusual-in-recent-times setup where a big surprise in either direction could hurt stocks today.
(For clarity and consistency, I would only see this as a multi-week consolidation/retrenchment and not some long-term bearish turning point).
…click on the above link to read the rest of the article…
Israel Warns Iran Of Massive Regional War If Directly Attacked
Israel Warns Iran Of Massive Regional War If Directly Attacked
Update(1831ET): With Israel’s embassies around the world on a heightened state of alert, and extra IDF reservists called up, and home and weekend leave for all combat troops having been abruptly canceled Thursday, the Israeli population is anxiously awaiting a response – with some reports saying residents are already seeking the safety of bomb shelters.
Tehran has vowed that vengeance is coming soon for the Monday Israeli airstrike on its embassy in Damascus. Most pundits believe this will take the form of ballistic missiles raining down on Israeli cities. But Israeli leader Benjamin Netanyahu is reportedly vowing that if the Islamic Republic launches missiles from its soil it will ensure “a strong response” from Israel.
Israeli officials have told Axios late in the day that such an act would “take the current conflict to another level” — which most certainly would involve a direct Israel-Iran war and thus the eruption of a broader regional conflict. Axios adds the following observations:
- Iranian proxies in Lebanon, Syria, Iraq and Gaza have attacked Israel but there hasn’t been an attack from Iranian soil.
- A direct Iranian strike on Israel would be unprecedented and could lead to a regional war in the Middle East.
Netanyahu informed his security cabinet Thursday that Israel’s forces have already been engaged with Iran “both directly and via its proxies, and therefore Israel is operating against Iran and its proxies, both defensively and offensively.”
A statement issued by the prime minister’s office laid out: “We will know how to defend ourselves and will operate according to the basic principle of whoever is harming or planning to harm us — we will harm him.” The White House has meanwhile issued a statement shortly after Biden and Netanyahu discussed the Gaza crisis, saying “President Biden made clear that the United States strongly supports Israel in the face of those [Iranian] threats.”
…click on the above link to read the rest…
Oil Surges Over $90, Stocks Tumble After Israel Puts Embassies Around World On Maximum Alert
Oil Surges Over $90, Stocks Tumble After Israel Puts Embassies Around World On Maximum Alert
At this point Israel’s ties with key Gulf countries like the UAE are near breaking point, after only a few short years ago diplomatic normalization was hailed through Trump’s Abraham accords. But international and Israeli press reports are confirming the UAE has announced it is halting all coordination on humanitarian aid with Israel.
Further, as Israeli media reports: “The United Arab Emirates (UAE) has announced a suspension of diplomatic coordination with Israel in the wake of the death of seven World Central Kitchen humanitarian workers in Gaza.” Simultaneously, Israel is busy putting its embassies across the world on high security alert due to the “heightened Iranian response threat” in wake of Monday’s Israeli attack on the Iranian embassy in Damascus. All of this served to send Brent soaring in the last two hours, with Brent spiking above $90 for the first time since October….
… and sending stocks tumbling to session lows.
With Iran vowing that its retaliation is coming at any moment, Israel’s military is scrambling for readiness, with the latest measure being to pause all home leave for all combat troops.
“The IDF is at war and the issue of the deployment of forces is constantly reviewed as needed,” the Israeli military said.
President Biden is meanwhile is said to be “pissed” with PM Netanyahu over the killing of seven World Central Kitchen aid workers in Gaza, though Israel acknowledged that it was a “grave mistake”.
So far this sounds like more mere empty words of “concern” – a talking point that’s been on repeat from the White House even as its Gaza policy continues slowly fracturing the Democratic base – but Biden is said to have pressed Bibi for “an immediate ceasefire”.
The call readout further said ceasefire is needed to “protect innocent civilians” in Gaza and improve the humanitarian situation. Axios writes that Biden gave his Israeli counterpart an “ultimatum” as the US president “emphasized that the strikes on humanitarian workers and the overall humanitarian situation are unacceptable.”
“IDF At War”: Israel Scrambles GPS Signal As Iran Revenge Attack Imminent
“IDF At War”: Israel Scrambles GPS Signal As Iran Revenge Attack Imminent
With ever-present fears, Tehran could launch a missile or drone attack against Israel to avenge the deaths of three commanders and four officers of the Iranian Armed Forces, taken out by a precision Israeli airstrike at the Iranian embassy compound in Damascus earlier this week. New data suggests that GPS jamming across Israel is likely related to prudent defensive efforts to counter such an attack.
On Thursday, Reuters journalists and Tel Aviv residents said GPS service deteriorated and, in some cases, entirely disrupted as an attempt by the military to prevent guided missiles and drones from hitting critical high-value targets deep within the nation.
Many bombs, drones, and other weapons use GNSS (global navigation satellite systems) for increased accuracy. Signs of GNSS signals disrupted are more evidence Israel is on the defensive as it awaits missile attacks from Iran.
Data from the GPS interference website “GPSJAM” shows large swaths of Israel have high levels of GPS interference.
Other signs the conflict in the Middle East is broadening and entering a new dimension are reports that the Israeli military halted leave for all combat units on Thursday.
“The IDF is at war, and the deployment of forces is under continuous assessment according to requirements,” the military told Reuters in a statement.
In a separate report, Israel’s military said it was strengthening its aerial defense system with reserve soldiers:
“It was decided to increase manpower and draft reserve soldiers to the IDF (Israel Defense Forces) Aerial Defense Array.”
This follows the deaths of some of the highest-ranking leaders in the Quds Force, who were in charge of Iran’s covert intelligence and military operations across Syria and Lebanon on Monday. The strike was among the deadliest for the Iranian military in years (read: “ZH Geopolitical Week Ahead: This Is A Declaration Of War”).
…click on the above link to read the rest of the article…
Canadians Are F**ked: Secret RCMP Report
Canadians Are F**ked: Secret RCMP Report
A previously secret (and still heavily redacted) RCMP report warns the Canadian government to expect civil unrest once citizens realize how totally screwed the economic situation is, the National Post reports.
“The coming period of recession will … accelerate the decline in living standards that the younger generations have already witnessed compared to earlier generations,” reads the “Whole-of-Government Five-Year Trends’ report for Canada- of which the aforementioned heavily redacted version was made public thanks to an ‘access of information’ request filed by Matt Malone, an assistant professor of law at British Columbia’s Thompson Rivers University, and an expert in government secrecy.
“For example, many Canadians under 35 are unlikely ever to be able to buy a place to live,” the report continues.
According to the report, labeled as “special operational information” and originally intended to be distributed only within the RCMP and among “decision makers” in the federal government, trends are in motion “that could have a significant effect on the Canadian government and the RCMP.”
The authors warn that Canada’s current situation “will probably deteriorate further in the next five years,” and that in addition to worsening living standards, Canada faces unpredictable seasonal catastrophes, including wildfires and flooding.
Another major theme of the report is that Canadians are set to become increasingly disillusioned with their government, which authors mostly chalk up to “misinformation,” “conspiracy theories” and “paranoia.” -National Post
“Law enforcement should expect continuing social and political polarization fueled by misinformation campaigns and an increasing mistrust for all democratic institutions,” reads one of the report’s “overarching considerations,” the Post reports.
“Erosion of Trust”
“The past seven years have seen marked social and political polarization in the Western world,” reads part of the first sentence of a heavily redacted section, entitled “erosion of trust,” with the remainder deleted by government censors – who also eliminated most of a section warning about “paranoid populism.”
…click on the above link to read the rest of the article…
