Market Talk – January 10, 2025

January 10, 2025

Market Talk 2017

ASIA:
The major Asian stock markets had a negative day today:
• NIKKEI 225 decreased 414.69 points or -1.05% to 39,190.40
• Shanghai decreased 42.87 points or -1.33% to 3,168.52
• Hang Seng decreased 176.60 points or -0.92% to 19,064.29
• ASX 200 decreased 35.10 points or -0.42% to 8,294.10
• SENSEX decreased 241.30 points or -0.31% to 77,378.91
• Nifty50 decreased 95.00 points or -0.40% to 23,431.50
The major Asian currency markets had a mixed day today:
• AUDUSD decreased 0.00527 or -0.85% to 0.61428
• NZDUSD decreased 0.00428 or -0.76% to 0.55547
• USDJPY decreased 0.202 or -0.13% to 157.884
• USDCNY increased 0.00785 or 0.11% to 7.36415
The above data was collected around 15:18 EST.
Precious Metals:
•  Gold increased 19.34 USD/t oz. or 0.72% to 2,689.23
•  Silver increased 0.274 USD/t. oz. or 0.91% to 30.358
The above data was collected around 15:22 EST.
EUROPE/EMEA:
The major Europe stock markets had a negative day today:
•  CAC 40 decreased 59.24 points or -0.79% to 7,431.04
•  FTSE 100 decreased 71.20 points or -0.86% to 8,248.49
•  DAX 30 decreased 102.31 points or -0.50% to 20,214.79
The major Europe currency markets had a mixed day today:
• EURUSD decreased 0.00604 or -0.59% to 1.02391
• GBPUSD decreased 0.01039 or -0.84% to 1.22041
• USDCHF increased 0.00475 or 0.52% to 0.91710
The above data was collected around 15:28 EST.

US/AMERICAS:

US Market Closings:

  • Dow declined 696.75 points or -1.63% to 41,938.45
  • S&P 500 declined 91.21 points or -1.54% to 5,827.04
  • Nasdaq declined 317.25 points or -1.63% to 19,161.63
  • Russell 2000 declined 49.74 points or -2.22% to 2,189.23

 

Canada Market Closings:

  • TSX Composite declined 305.63 points or -1.22% to 24,767.73
  • TSX 60 declined 21.11 points or -1.4% to 1,482.61

 

Brazil Market Closing:

  • Bovespa declined 827.83 points or -0.69% to 118,952.73
ENERGY:
The oil markets had a green day today:
•  Crude Oil increased 2.62 USD/BBL or 3.54% to 76.540
•  Brent increased 2.712 USD/BBL or 3.53% to 79.632
•  Natural gas increased 0.2718 USD/MMBtu or 7.34% to 3.9728
•  Gasoline increased 0.036 USD/GAL or 1.77% to 2.0722
•  Heating oil increased 0.1102 USD/GAL or 4.62% to 2.4976
The above data was collected around 15:30 EST.
•  Top commodity gainers: Natural Gas (7.34%), Heating Oil (4.62%), Crude Oil (3.54%) and Brent (3.53%)
•  Top commodity losers: Cheese (-3.19%), Orange Juice (-4.20%), Cotton (-2.31%) and Cocoa (-3.17%)
The above data was collected around 15:36 EST.
BONDS:
Japan 1.2120% (+3.47bp), US 2’s 4.40% (+0.128%), US 10’s 4.7820% (+9.4bps); US 30’s 4.97% (+0.032%), Bunds 2.5750% (+4.4bp), France 3.425% (+3.7bp), Italy 3.7710% (+6.55bp), Turkey 26.36% (-17bp), Greece 3.370% (+5bp), Portugal 3.048% (+4.5bp); Spain 3.263% (+5.1bp) and UK Gilts 4.8430% (+2.68bp)
The above data was collected around 15:41 EST.

Polls Against Scholz

January 10, 2025

Scholz

The next German election will be held on February 23, and if recent polls are of any indication, Chancellor Olaf Scholz may be out of work. The Social Democrats (SPD) are part of a global trend of political parties that have pushed their nations so far to the left that the people are voting to the right.

Bild newspaper believed SPD’s favorability declined one point to 15.5% since December. The Christian Democratic Union (CDU) and sister party the Christian Social Union (CDU) are leading the polls at 31%. The Alternative for Germany (AfD) Party rose in popularity by one percentage point to 21.5%.

2024_12_16_19_13_02_Scholz_branded_a_failure_as_Germany_s_government_collapses_and_33_more_pages_

The Greens did see a 1.5 percentage point rise but they are only standing at 13.5% favorability, which marks their highest support level since 2023. All other parties are beneath the 5% level as people are completely done with the direction of the left.

Open borders, climate change, the woke agenda, and endless wars have pushed citizens worldwide to a breaking point. Progressive policies have failed. We saw the celebrated shift in Italy when Giorgia Meloni and the Brothers of Italy Party took office in 2022. Marine Le Pen of France won a majority of seats with the National Rally. The Netherlands saw Geert Wilders’ Party of Freedom win a large portion of seats in the House of Representative. The tide is shifting across Europe.

The German government basically collapsed under Scholz’s watch. He left a massive hole in their budget and sacrificed economic sovereignty for Brussels. The left also lost America’s protection of Germany now that Biden is leaving office. The left is simply losing internationally as the people can no longer tolerate the failing Marxist agenda.

We had a directional change in 2024 and should see a recession sharply into 2026 into 2028. Marxism should end in Europe by 2037 but it will be a long road to get there. In the short term, all incoming governments will be forced to undo the mistakes of prior regimes while accepting that some of the damage cannot be undone.

Legacy Media Suddenly Outraged Over Biden’s Mental Health

January 10, 2025

There is suddenly an outpouring of anger from the legacy media aimed at the Democrats who hid Biden’s mental health decline. Every channel now discusses what those with eyes, ears, and, most importantly, INDEPENDENT thoughts already knew. The same journalists who spent the past eight years demonizing Donald Trump are now outraged at their own party for hiding Joe Biden’s health condition and turning the country red—those who can think independently KNEW that Joe Biden’s health was failing many years ago.

I wrote over the years extensively about how Biden’s mental decline enabled the neocons to push him to support pro-war policies. I shared the content of a handwritten letter penned by then-Vice President Joe Biden addressed to Barack Obama, urging him not to escalate the war.

“Tomorrow the President is going to make a fateful decision regarding Afghanistan - as I sat looking out the window at the sea - thinking I should resign in protest over will bring his administration down. Although I obviously there I feel like this is what it must have felt like for Kennedy then Johnson in the early days of VTN [Vietnam]. I feel guilty and boxed in myself. Guilty not having been more successful w/ the President - and staying. Boxed in by knowing or at least feeling that my resignation would only harden his position and leave him with one less voice.”

The man that Joe Biden was during that time no longer exists. He is not competent to form his own opinions and has become a complete puppet of the establishment that is taking advantage of a man in severe mental decline. Not only did the Democrats KNOW that Biden’s health was declining, but they deliberately used it to their advantage.

We knew that Joe Biden could not hold down a full-time job back when Jen Psaki was still press secretary. Psaki admitted that Biden could not begin his day before 10 AM, which was apparent on his public schedules. He was absent for over 40% of his term as the Democrats only wanted Joe in the spotlight when absolutely necessary.

Bidens cue cards

“It’s not a good sign when everybody’s taking it live and the questions are predominantly about the president’s health and well-being,” Psaki said in July 2024, although she stepped down from the position in 2022. “That’s not a good sign on how things are going.” We knew long before then that Joe Biden was only permitted to call upon reporters who would ask pre-approved questions. He admitted it out loud to the public and showed us his cue cards. “I know that’s a weird way of saying it, but President Biden’s magic is not necessarily press conferences, I think it’s safe to say,” Psaki said. “It’s not even really necessarily interviews.” Leading the world’s top economy requires interviews and transparency. Still, the left looked the other way.

gaslight.bidenomics

Current White House Press Secretary Karine Jean-Pierre repeatedly ignored questions regarding Biden’s mental health. She insisted that Joe Biden was “sharp” despite his countless “gaffes” on the public stage. Reporters were condemned from even questioning Biden’s mental health. AMERICANS WERE NOT ALLOWED TO QUESTION IF THE COMMANDER-IN-CHIEF HAD DEMENTIA. Even the former White House physician was unable to question Biden’s decline without receiving a strongly worded letter from Barack Obama.

Do not believe for a second that Joe Biden was innocent in all of this. “The Big Guy” had reasons to stay in power without stepping down. His entire family sold out the nation to foreign interests years before he took office and it is fair to say he was either blackmailed or too unaware to function. Biden became the first president to outright refuse a cognitive test, and we, the people, allowed it to happen.

Sleepy Joe

America became the laughingstock of the world. Global news outlets would show Biden’s “gaffes” and laugh. Cabinet members would meet with leaders on his behalf as he was unable to do so. Everyone knew. The MEDIA would not let on the truth as it is run by the establishment.

Senate Majority Leader Chuck Schumer responded to the sudden outcry by insisting that the Democrats never hid Biden’s health status from the public. Remember how the Democrats instantly outed Biden after his first disastrous debate with Trump? The Democrats seemingly do not. Schumer insists that Biden stepped down “on his own because he thought it was better, not only for the Democratic Party, but for America.” Biden was firm in his stance that he would not drop out of the race. He then said he would consider stepping aside if a health issue presented itself, followed by announcing he fell ill with COVID-19. Then, the media reported that Biden was “receptive” to dropping out of the race. Tensions between the Bidens and his own party, particularly Nancy Pelosi, told a different story.

Stop listening to the mainstream media and look at the facts for yourself. No one should be surprised that Joe Biden was mentally unfit for the job. Most of us were outraged YEARS ago when it was clear as day that Biden was on the decline. The Democrats should be ashamed if not investigated for insisting that Biden was mentally competent to permit the establishment to control the nation.

Weakening Russia Conventionally Leaves Only Nuclear War

January 10, 2025

Churchill on Truth

QUESTION: Hello, thank you for unique comments and alternative views on the Russia-Ukraine war as regards to Nato expansion and neocons et cetera. We sure seem to be racing towards WWIII.

It would be interesting if you would care to comment on the inability of Russia, despite support on the ground from North Korea, to kick out Ukraine’s counter-invasion in Russia’s Southern Kursk region.
Is it a sign of weakness from Russia’s military or is it some kind of Russian 3D-chess tactic?
What if Mexican tanks rolled into Arizona or Canadian tanks invaded New Hampshire?

Kind regards,

JH

 

 

ANSWER: Unfortunately, our NEOCONS project the image that the USA is an imperial power that wants to conquer the world. In turn, this has only emboldened the NEOCONS inside Russia and China, and they judge all Americans by the actions of our NEOCONS because nobody will speak up or dare to challenge them.

 

Having two employees in Ukraine certainly helped when we have people on the ground to get to the truth. I warned the computer had projected Ukraine was the place where World War III would begin. The NEOCONS protected the Ukrainian Nazis, despite the fact that the horrors they committed even shocked the Germans from documented cases of cutting out babies from pregnant women and sowing in a live cat. This is just the tip of the iceberg when it comes to Ukraine – a very dark side.

Merkel_Minsk_Buy_Time_to Prepare for wart

The deliberate fake peace negotiation to buy time to build this army to invade Russia was just deplorable. The mere fact that Merkel was part of this deception to create World War III intentionally was unbelievable. Why would anyone negotiate with the West when they lie about everything?

ECM Ukraine Russia War

The problem we face is that this authorization for Ukraine to use long-range missiles to attack Russia while losing the Donbas daily demonstrates that Zelensky is a real Judas taking orders from the NEOCONS, and this is to weaken Russia. They may be able to weaken Russia conventionally to prepare for a NATO invasion using some false flag perhaps by May this year, but they are counting on the fact that Russia will never push the button, so they will be able to walk in and conquer the country dividing the spoils of war.

USNDX Y Cash Chart 1 8 25

I do not see that scenario succeeding according to our computer. If I were a Russian, I  would push the button and destroy all of Europe if they invaded Russia. They NEVER consider what if they are wrong!  Be on guard for 2026 into 2027. Weakening Russia conventionally reduces its defense to nuclear. Hello! How stupid can these people be? Why do you think the dollar elected 3 Yearly Bullish Reversals at the end of 2024? While everyone is focused on the Fed and Debt, they are not paying attention externally to the US economy. NATO is a threat to world peace!

 

Central Banks & the Absence of Tools

January 9, 2025

 

Greenspan Alan 2Central Bankers are trapped; Keynesian Economics remains the only tool in their quiver, and they are running out of arrows. The Fed Watchers are neck-deep in mainstream media propaganda spun by Marxist academics who lack any experience in even trading their own account, no less observing the real world outside of their ivory towers. Most of this dogma has not changed for centuries, and it stems from an era when the monetary system was in its infancy and based entirely upon the metal content of coinage lacking sufficient premiums for economic power.

Philip II Genuine Helvetii Imitation Stater

As I have reported many times, the coinage of ancient times always carried a premium for the dominant economic power. The Swiss were imitating the gold coins of Philip II of Macedonia during the 4th century BC – the father of Alexander the Great.

Athens Owl 449 413BC Egyptian Imitation

Ancient Egypt never bothered to issue their own coinage, and they were conquered by Alexander the Great. Previously, the dominant economic power before Macedonia was Athens. The Egyptians imitated Athenian owls, which were recognized in international trade.

 

Tiberius Aureus Genuine India Imitation

When Rome conquered Green and displayed the empire of Alexander the Great, we find that India was dominant in the trade of spices with the Romans. There was always a PREMIUM over the metal content of the coins of the dominant economy. Just as the dollar is really the reserve currency BECAUSE everyone needs to sell their products to Americans, the same was true in ancient times with Rome. That is, Rome lasted longer than anyone because it had a consumer-based economy, and thus, it was economically beneficial to stay within the Empire. That created the 1,000 years of peace, which our Neocons are only interested in imperial empire building, defeating Russia and China. It is free trade that creates world peace. They skipped that class in school and preferred death and destruction.

Florin Imitations

It was a trade that raised Florence to the top of the economic food chain by the 14th century. Their gold coin was the Florin, and once again, we see everyone imitating the Florin from Hungary to Spain.

Victoria 1849 florin

By the 19th century, even Britain was issuing a silver coin still called the florin, equal to two shillings, demonstrating the long-term consequences of inflation over the centuries. The economic history is written in the coinage, not subject to fake news or opinion. It is there for everyone to see if they ever opened their eyes.

FirstGold 1252

With the fall of Rome in Europe, there were no gold coins issued until the Brindisi Gold Augustalis in 1232 to facilitate trade with the Arab world. That inspired Florence to issue the Florin about 20 years later, in 1252, and the idea caught on with Genoa issuing their Gold Genovino the following year. Then, King Henry III issued a gold penny in 1257. From Florence to London, issuing gold coinage became prestigious, showing they were a prosperous empire.

 

Henry VIII Debased Groats

The monetary system was entirely based on the metal content. By the 16th century, we begin to see competitive debasement between England and Spain. This has greatly influenced to this day how central bankers are dealing with old theories based on the quantity of money.

Gresham Law

Sir Thomas Gresham was the agent for the English Crown on the Amsterdam Bourse, where government debt was starting to be traded. Because the exchange rates between nations did not have a premium at this time for economic power, the FX rates were based entirely on metal content. Thus, Gresham observed that debasement was a deterrence to selling government debt, for you would be repaid with debased coinage that had a lesser value on the FX markets. This led to Gresham’s Law – that bad money (debased) drives out the good.

Debasement Gallienus

As I have reported previously, once Emperor Valerian I (253-260AD) was captured by the Persians and remained in the prison of their king to be stuffed as a trophy on his death, the PUBLIC CONFIDENCE in Rome’s monetary system unfolded. Bankers were unsure about even accepting Roman coinage, demonstrating that there was a premium OVER AND ABOVE the metal content. The collapse in PUBLIC CONFIDENCE led to people hoarding the old coinage, for what took place was massive debasement due to the sudden shortage of silver. We see the debasement visually in just one 8.6-year wave. It was so bad that Emperor Aurelian sent troops against the Roman Mint because they were robbing the silver for themselves, and thousands died in the battle against the deep state bureaucracy.

A document from Egypt has survived, illustrating the unleashed financial crisis. It is from Aurelius Ptolemaeus, who is the strategus of the Oxyrhynchitenome. The public officials gathered and accused the bankers of closing their doors on account of their unwillingness to accept the divine coins of the Emperors. It became necessary that an order had to be issued to all the owners of the banks directing them to open and accept, and exchange all coins except the absolutely spurious and counterfeit. It was also directed that all who engaged in business transactions who refused to comply would be penalized. (POxy 1411 260AD, cited by Burnett 1987: p104). This confirmed what I have said throughout my career – it boils down to PUBLIC CONFIDENCE!

Hyperinflation Myth

This lack of understanding of PUBLIC CONFIDENCE has confused economics and robbed the central banks of all their tools. They look at the debasement and Gresham’s Law and then articulate in the Austrian School that the chicken is confused with the egg, which comes first. They look at the increase in the money supply from debasement and ASSUME that is what causes hyperinflation, when in fact, it is the collapse in PUBLIC CONFIDENCE that takes place FIRST, and that causes the hoarding and that reduces the money supply circulating, and then this compels the government to create more money to service itself. It is NOT the other way around.

Roman Hoard Britain

If these academic economists ever looked outside their own myopic field, they would understand that hoards of Roman coins are found from periods of political instability – especially wars. There was a series of over 20 emperors in a short time period during the collapse of the 3rd century AD. This is also where we find the greatest number of coin hoards throughout Europe. This is proof of what I am saying. Recessions occur because of public UNCERTAINTY regarding the future, so people spend less and save more. This is true no matter what century, and negative interest rates only compelled people in Europe to buy safes and take their cash out of the banks.

Standard Catalog if Depression scrip

1934 Mich DepressionScrip r

Over 200 American cities issued their own currencies during the Great Depression because the Fed was afraid of inflation and did not increase the money supply but contracted it when the public was also hoarding their money. This is why the ECB moved to negative interest rates in 2014 to try to punish people for hoarding and not spending. I warned the ECB back then that this was ass-backward, but of course, they did not listen. They tried to force people to spend when they had ZERO PUBLIC CONFIDENCE in the future – and rightly so. Thus, central banks kept interest rates excessively low for too long, which encouraged governments to explode their debts. Yes, it helped the stock market, but not as the press presents. People were wise enough to buy the stock with high dividends. Why did cash pay 0.5% when some stocks paid 5%+?

Quantity Theory of Money QTM

New Economic Theory

We need a new economic theory, and this nonsense of Modern Money Theory is absolute garbage because it is the chicken or the egg once again. They saw the increase in money supply with QE did not lead to inflation and concluded that the government is a monopoly and can create money at will without fear of inflation. What they totally screwed up is that (1) up to 70% of the money is held outside the domestic economy, (2) debt that pays interest is free to borrow against and has increased the money supply dramatically, and (3) increasing the money supply had no impact as did negative interest rates because people REFUSED to spend and hoarded lacking and PUBLIC CONFIDENCE in the economic future.

It is time we prevent academics who have ZERO real-world experience or have ever traded from coming up with theories that they are NOT qualified to do. This is like a man writing a book on how it feels to give birth. Come on! We elect politicians without any experience because they look nice. Without trading experience in economics, we end up with theories from people like Karl Marx and John Maynard Keynes.

Greenspan 1996 Irrational

We just had Federal Reserve Governor Lisa Cook this week make a blunt warning to the markets like Alan Greenspan did in December 1996. She said:

“Valuations are elevated in a number of asset classes, including equity and corporate debt markets, where estimated risk premia are near the bottom of their historical distributions, suggesting that markets may be priced to perfection and, therefore, susceptible to large declines, which could result from bad economic news or a change in investor sentiment.” 

Greenspan’s remarks of “irrational exuberance” did cause a brief pullback. However, it was quickly forgotten because traders must deal with reality – not theory. Here are Greenspand’s remarks, and you can see that central bankers still do not understand market behavior because they ONLY listen to academics.


FRB: Speech, Greenspan — Central banking in a democratic society — December 5, 1996

“Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets. We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past. But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade? And how do we factor that assessment into monetary policy? We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs, and price stability. Indeed, the sharp stock market break of 1987 had few negative consequences for the economy. But we should not underestimate or become complacent about the complexity of the interactions of asset markets and the economy. Thus, evaluating shifts in balance sheets generally, and in asset prices particularly, must be an integral part of the development of monetary policy.”

Zuckerberg to End Company Fact-Checking Censorship

January 9, 2025

Censored

Meta CEO Mark Zuckerberg is swiftly reversing course before Donald Trump takes office. Zuckerberg openly used Meta, formerly Facebook, as a propaganda tool to influence US elections, promote the COVID agenda, and deplatform anyone speaking out against the establishment.

Zuckerberg began to change his tune over the summer when his company was investigated by the House Judiciary for censoring free speech. The media mogul pointed the finger at Biden and Harris, insisting they “repeatedly pressured” him to censor content before and during their time in the White House.

“I believe the government pressure was wrong and I regret that we were not more outspoken about it,” Zuckerberg wrote in the letter dated Aug. 26, 2024, and posted on the committee’s Facebook page and to its account on X. Anyone who published “disinformation” was censored. You were not allowed to question the COVID narrative and anyone who did was deplatformed. They even removed Donald Trump from the outlet. Anyone who mentioned vaccinations, lockdowns, or the origins of the COVID virus were removed from social media without warning.

2022_04_20_Zuckerberg manipulating Elections

Zuckerberg hid the Hunter Biden laptop story ahead of the 2020 US Presidential Election and promoted the Russian collusion hoax. The invisible hand was at play, naturally, as the Facebook founder was able to prevent the break-up of his company by pouring hundreds of millions into the election and then blamed Russia for buying advertisements on Facebook during the 2016 election. Mark Zuckerberg dumped more than $400 million into manipulating the 2020 presidential election where Democratic operatives typically funneled the money. These were often areas where voter canvassing was used in Biden’s get-out-the-vote effort.

The establishment called his actions “electoral infrastructure.” “The idea here was to make sure local election jurisdictions across the country had the resources they needed to help people vote safely during a pandemic,” he stated back in August 2024. The truth of the matter is that he weaponized social media to promote political rhetoric. His company, with the backing of the establishment, determined what was “misinformation” and who could and could not have a voice.

Facebook Restrict Politics

Now, he is pointing the finger at the “legacy media” for promoting misinformation about Trump. He has opted to switch the fact-checking process to a “community notes” method similar to what Elon Musk has offered on X. “We tried in good faith to address those concerns without becoming the arbiters of truth. But the fact checkers have just been too politically biased and have destroyed more trust than they’ve created, especially in the US,” Zuckerberg added. “So over the next couple of months, we’re going to phase in a more comprehensive community note system.”

He also said that forbidden keywords relating to migration and gender would no longer be restricted. “What started as a movement to be more inclusive has increasingly been used to shut down opinions and shut out people with different ideas,” Zuckerberg said. “And it’s gone too far. So I want to make sure that people can share their beliefs and experiences on our platforms.”

Zuckerberg is in full damage control mode. He donated $1 million to Trump’s campaign when it was clear that Harris would lose. The far leftist puppet is suddenly a patriot who praises the First Amendment after spending his career silencing conservative voices.

Cancel Culture deplatform

“The U.S. has the strongest constitutional protections for free expression in the world. Europe has an ever increasing number of laws institutionalizing censorship and making it difficult to build anything innovative there. Latin American countries have secret courts that can order companies to quietly take things down. China has censor apps from even working in the country.” China is now to be vilified as the popularity of TikTok grows.

Fact-checking agencies like PolitiFact said they had no warning that Zuckerberg was halting his mass censorship program. Zuckerberg hired Joel Kaplan, a Republican policy head who has criticized his tactics endlessly, to fix his mess. “This program has been a major part of the global fact-checking community’s work for years,” she said. “People are upset because they saw themselves as partners in good standing with Meta, doing important work to make the platform more accurate and reliable,” one agency head told reporters. There were over 170 agencies across the world working on behalf of the establishment to remove content. As with those indoctrinated by progressive ideology, they actually believed that they were making a difference and protecting the public.

Zuckerberg was willing to participate in stifling American’s First Amendment rights and swaying public perception. As of this writing, the platform is still removing content that it deems inappropriate or misinformation. This man broke laws on behalf of the establishment but now wants to be in Trump’s good graces. Who would trust this platform now? It is almost comical to believe that ANY social media platform is void of some form of censorship.

Biden Bans Natural Gas Water Heaters

January 9, 2025

Evil of CO2

Joe Biden is passing additional climate change “protections” before leaving office. Before placing a ban on offshore drilling, Biden and/or his handlers turned his attention to American households. His latest policy will prohibit Americans from purchasing natural gas water heaters.

The ban will officially begin in 2029 and natural gas-fired water heaters will no longer be available to the public. Per usual, the ban is intended to prevent carbon dioxide emissions from ending the world. Some estimate that the tanks alone will cost consumers $450 more on the initial purchase, yet you can look at the prices on any home improvement store’s website to see that the cost is far more. The true cost of operating these tanks exceeds than what the government is estimating.

There was an existing electric water tank in my home when I first purchased it. The tank was constantly heating water even when not in use. I switched out my tank for natural gas and my electric bill fell by 1/3. My current tank only heats the water when needed and should be considered more energy efficient based on my bill.

Logic has no place in the climate change agenda. Around 40% of existing water heaters on the market will be banned under this new guideline. There will be no point in manufacturing natural gas heaters as they will be irrelevant. The Department of Energy claim that tankless water heaters must rely on 13% less energy than the newest, most efficient fossil fuel model.

“Forcing low-income and senior customers to pay far more upfront is particularly concerning. DOE’s decision to go ahead with a flawed final rule is deeply disappointing,” Matthew Agen, the American Gas Association’s chief counsel for energy, told the outlet. In addition to reducing options and raising costs for consumers, the ruling is punishing an industry. Currently, Rinnai America is the only major American manufacturer of tankless water heaters.

Yet, Rinnai America is against the ban, too. “Our point has always been—I think that the incoming administration will understand this—why would you eliminate a higher efficiency product category? It makes no sense. It makes no sense at all,” Frank Windsor, the president of water heater manufacturer Rinnai America, told the Free Beacon in an interview. “If you really want to impact the water heating ruling, you really need to deal with the tank models.”

Still, the climate change zealots are cheering the claim that the ban will reduce 32 million metric tons of emissions. The Department of Energy has claimed that Americans can enjoy saving $112 over a 20 year span.

“One of the things we see is an antipathy towards natural gas versions of appliances because natural gas is a fossil fuel and they want to electrify everything. When you see bad regulations from the Biden administration, usually it has something to do with climate change,” Ben Lieberman, a senior fellow at the Competitive Enterprise Institute.

The American Gas Association believes the “irresponsible” prohibition is illegal. “The final rule is a violation of the Energy Policy and Conservation Act (EPCA), which prohibits DOE from promulgating a standard that renders a product with a distinct performance characteristic unavailable. To make matters worse, DOE’s own analysis claims that the average life-cycle cost savings would amount to barely $112 over the entire 20-year average product life. DOE’s final rule is unjustifiable on legal and practical grounds.” AGA is suing the DOE over a similar issue.

Build Back Better leaders, who are not leaders but puppets of the globalist NWO, have not hesitated to abandon their people and country in the name of climate change. It is of no surprise that Biden is pushing through these unpopular proposals at the eleventh hour. Donald Trump will likely spend the beginning of his term fighting to undo all the damage the Biden-Harris regime has done in the name of climate change.

NYSE Closed Tomorrow Jan 9th for Jimmy Carter Memorial

January 8, 2025

NYSE Building

President Joe Biden has marked Thursday, Jan. 9th as a national day of mourning to honor the death of former President Jimmy Carter. Biden called on the American people to assemble on Jan. 9 “in their respective places of worship” to pay homage to Carter. “I invite the people of the world who share our grief to join us in this solemn observance,” Biden said in a statement following Carter’s death.

Biden said flags will be at displayed at half-staff at the White House and on all public buildings and grounds, at all military posts and naval stations, and half-mast on all naval vessels for a period of 30 days from the day of his death. On previous national days of mourning, like after the deaths of former Presidents George H. W. Bush in 2018 and Gerald Ford in 2006, federal offices and stock markets were closed in the U.S.

Market Talk – January 8, 2025

January 8, 2025

Market Talk 2017

ASIA:
The major Asian stock markets had a mixed day today:
• NIKKEI 225 decreased 102.24 points or -0.26% to 39,981.06
• Shanghai increased 0.52 points or 0.02% to 3,230.17
• Hang Seng decreased 167.74 points or -0.86% to 19,279.84
• ASX 200 increased 64.00 points or 0.77% to 8,349.10
• SENSEX decreased 50.62 points or -0.06% to 78,148.49
• Nifty50 decreased 18.95 points or -0.08% to 23,688.95
The major Asian currency markets had a mixed day today:
• AUDUSD decreased 0.00155 or -0.25% to 0.62150
• NZDUSD decreased 0.00388 or -0.69% to 0.56072
• USDJPY increased 0.329 or 0.21% to 158.404
• USDCNY increased 0.01133 or 0.15% to 7.35328
The above data was collected around 13:28 EST.
Precious Metals:
•  Gold increased 7.27 USD/t oz. or 0.27% to 2,656.90
•  Silver decreased 0.033 USD/t. oz. or -0.11% to 30.054
The above data was collected around 13:31 EST.
EUROPE/EMEA:
The major Europe stock markets had a mixed day today:
•  CAC 40 decreased 36.93 points or -0.49% to 7,452.42
•  FTSE 100 increased 5.75 points or 0.07% to 8,251.03
•  DAX 30 decreased 10.63 points or -0.05% to 20,329.94
The major Europe currency markets had a mixed day today:
• EURUSD decreased 0.00267 or -0.26% to 1.03138
• GBPUSD decreased 0.01141 or -0.91% to 1.23634
• USDCHF increased 0.00151 or 0.17% to 0.91136
The above data was collected around 13:41 EST.
US/AMERICAS:

 

US Market Closings:

  • Dow advanced 106.84 points or 0.25% to 42,635.2
  • S&P 500 advanced 9.22 points or 0.16% to 5,918.25
  • Nasdaq declined  10.8 points or -0.06% to 19,478.88
  • Russell 2000 declined 10.87 points or -0.48% to 2,238.93

 

Canada Market Closings:

  • TSX Composite advanced 121.3 points or 0.49% to 25,051.19
  • TSX 60 advanced 8.99 points or 0.6% to 1,503.33

 

Brazil Market Closing:

  • Bovespa declined 1,545.85 points or -1.28% to 119,616.8
ENERGY:
The oil markets had a mixed day today:
•  Crude Oil decreased 0.966 USD/BBL or -1.30% to 73.284
•  Brent decreased 0.897 USD/BBL or -1.16% to 76.153
•  Natural gas increased 0.2139 USD/MMBtu or 6.20% to 3.6629
•  Gasoline decreased 0.0244 USD/GAL or -1.20% to 2.0114
•  Heating oil decreased 0.0261 USD/GAL or -1.10% to 2.3460
The above data was collected around 13:45 EST.
•  Top commodity gainers: Natural Gas (6.20%), Copper (1.77%), Lumber (1.75%) and Rapeseed (1.73%)
•  Top commodity losers: Cheese (-2.20%), Zinc (-1.62%), Steel (-2.16%) and Sugar (-1.49%)
The above data was collected around 14:03 EST.
BONDS:
Japan 1.1800% (+5.1bp), US 2’s 4.30% (-0.007%), US 10’s 4.7120% (+2.5bps); US 30’s 4.94% (+0.025%), Bunds 2.5320% (+4.65bp), France 3.354% (+5.9bp), Italy 3.6930% (+6.8bp), Turkey 26.67% (-12bp), Greece 3.281% (+7.1bp), Portugal 3.008% (+6bp); Spain 3.210% (+6.6bp) and UK Gilts 4.7970% (+10.88bp)
The above data was collected around 14:08 EST.
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