🔹Ghana 🇬🇭 ordered large gold-mining co.'s to sell 20% of the metal they refine to the nation’s central bank. Ghana is working on a new policy for gold to be used to buy oil products rather than USD.

🔹Central banks bought 399 tonnes of gold in Q3. More than quadrupling on the year. Buyers include China 🇨🇳, Turkey 🇹🇷, Uzbekistan 🇺🇿 & India 🇮🇳. The year-to-date flurry of gold buying already well surpasses any 12-month period since 1967.

🔹Burglars in Bavaria 🇩🇪 have stolen 'several million euros' worth of gold from a Celtic Roman Museum.

Recent developments:

💠China's 🇨🇳 net gold imports via Hong Kong 🇭🇰 jumped nearly 40% to an over 4-year high in August. London 🇬🇧 gold dealer BullionVault, runs out of gold bullion.

💠Russia 🇷🇺 have taken steps to “mobilise” the non-reserve gold

💠Moscow's new gold standard & plans for a new trade settlement currency to replace the dollar 💵 require enhanced gold reserves so as to support a new gold standard for cross-border trade

Video: Sean Foo

🔹Mali 🇲🇱bans French-sponsored NGOs from operating in the West African nation. The decision applies also to those receiving “material or technical support from France 🇫🇷.”. Mali accused France of arming Islamist fighters & carrying out acts of espionage against the Malian gov't.

🔹The Malian🇲🇱 gov't announced a new security cooperation agreement with Russia. Since 2021, the number of equipment granted by Russia 🇷🇺 to help the Malian army fight jihadists is ever-rising. Malian transitional authorities claim major successes in the fight against those jihadists, thanks to Moscow.

🔹Germany 🇩🇪 is pulling out its troops from Mali. The Bundeswehr's participation in the UN mission 🇺🇳 MINUSMA will be ended by May 2024. The UK 🇬🇧 recently announced it would be withdrawing its 300 'peacekeepers' from Mali, saying the country’s growing reliance on Russian mercenaries is undermining stability.

🔹India 🇮🇳, Pakistan 🇵🇰 & Bangladesh 🇧🇩 are sending an armed helicopter unit each for the UN MINUSMA.

🔹The US 🇺🇸 outbreak of avian influenza (bird flu) is now the worst on record, with 50.54 million birds culled. Supermarket egg prices are hyperinflating because a large swath of the nation's 🥚 egg-laying hens was wiped out.

🔹The 'virus' has mostly impacted turkey & egg operations, sending prices to all-time highs & contributing to soaring food inflation 📈. The outbreak began in Feb. '22 & has so far infected flocks 🐓 across 46 states.

Earlier bird flu posts on this channel:

💠 UK 🇬🇧- Supermarket customers are facing limits on how many eggs they can buy.

💠 Spain 🇪🇸 - Two poultry farm workers tested positive for bird flu, the 1st known human infections in Spain & the 2nd in Europe since 2003.

💠 Millions of chickens euthanized to prevent spread of bird flu at US & UK farms.

💠 Death of seabirds in Canada 🇨🇦 linked to bird flu.

💠 US egg 🥚prices increase due to culling of hens across US.

💠 Quebec, Canada duck-farming 🦤 operation face financial ruin due to bird flu.

🔹Anti-US protest in German 🇩🇪 city of Leipzig runs into large counter-demonstrations. The protesters demanded that the US troops and nuclear weapons still based in Germany be removed. Protesters were met by counter-demonstrators, some of whom clashed actively with the anti-American protesters.

🔹Many of the hundreds who gathered near the US 🇺🇸 consulate in the city waved banners reading “Ami go home.” “Ami” is a common term in Germany for Americans.

🔹German 🇩🇪 media labels the protestors as far-right extremists. The police were in the city were a large contingent. In counter-demonstrations, there were pyrotechnics & riots, the police said.

Last reported on this channel:

💠 Media blackout on protests against sanction policy in Berlin.

💠 German farmers 🚜 protest destructive nitrogen gov't policy.

💠 German 🇩🇪 farmers have been protesting draconian climate change policies against them in the name of curbing nitrates in groundwater.

The de-industrialisation of Germany - Part 3.

🔹CEO of the Federation of 🇩🇪 German Industries said 1 in 4 German co.'s is considering moving production to other countries. CEO of chemical industry association, warns "...the gov't is willfully accepting deindustrialization”.

Now in bankruptcy:
📌🇩🇪 Nuremberg kitchen manufacturer Kitchen Source after 40 years in business.

📌 North-Rhine Westphalia 🇩🇪 automotive wheel storage/logistics co. Carewheel GmbH.

📌The DRK (German Red Cross) in Goslar, Lower Saxony. 370,000 euros of donations for Ukraine now in bankruptcy estate.

Previous posts on this channel:

💠 German co.'s operating for over 100 years shut down amidst a surge in bankruptcies.

💠 German utility Uniper, reported a 4.8 billion euros loss & faces nationalisation.

💠 BASF 🇩🇪, the world's largest chemical co. announces “permanent” downsizing in Europe.

💠 Steel manufacturers shut down across Europe.

💠Europe loses 📉 50% of its zinc & aluminum smelting capacity.

💠 Ammonia fertilizer & chemical 🏭 plants shut down across Europe.

🔹Taiwanese 🇹🇼 President Tsai Ing-wen has stepped down as the head of the ruling (US-backed) DPP after a party defeat in local elections. 🇹🇼 Chiang Kai-shek's great-grandson is now mayor of Taipei.

🔹In China 🇨🇳, uprisings were ongoing in Hunan Province, at (Taiwanese owned) Foxconn factory (for Apple products). Workers protested over jobs & salary issues. Apple shares are down nearly 2%.

🔹A fire in a high-rise building in Urumqi, Xinjiang, where 10 people died, allegedly due to China's 'zero-covid policy' has sparked protests further to other places in Wuhan, Shanghai & Beijing.

🔹U.S. 🇺🇸 imposes a ban on electronics created by China's Huawei & others.

🔹Market uncertainty as stocks, oil, & crypto markets are down 📉 today.

🔹Some of the signs at the protests written in Latin Pinyin 🪧 & begs questions about who is on the ground. In Shanghai, young protesters ridiculed police on their low salaries. UK's BBC journalist allegedly promoting protests using Telegram channels.

Video courtesy WION

🔹Russia 🇷🇺 and Kazakhstan 🇰🇿 are facilitating the launch of multilateral negotiations to develop an international convention to combat biological terrorism.

🔹Russia is redirecting its exports and imports to new markets against the backdrop of an international trade crisis, Russian 🇷🇺 President Vladimir Putin said at a forum of interregional cooperation with Kazakhstan. Kazakhstan 🇰🇿 will prioritize cooperation with its close neighbors, including Russia and China 🇨🇳. They would continue to work with the US, EU, Middle Eastern nations.

🔹Russia 🇷🇺 and Kazakhstan 🇰🇿 want convention on Caspian Sea legal status to enter into force soon. This is stated in the declaration adopted by the Presidents of the two countries, Vladimir Putin and Kassym-Jomart Tokayev. Kazakhstan wants to handle greater volumes of cargo moving between Russia and Iran🇮🇷 , an increasingly important trade route.

🔹The Dutch 🇳🇱 government plans to buy and close down up to 3,000 farms near environmentally sensitive areas to comply with EU 🇪🇺nature preservation rules.

🔹The Netherlands is attempting to cut down its nitrogen pollution & will push ahead with compulsory purchases if not enough farms 🚜 take up the offer voluntarily. They are looking at taxing nitrogen emissions to encourage more 'sustainable' practices.

🔹 The Netherlands is the world’s 2nd largest agricultural exporter, after the U.S.

Last reported on this channel:

💠 🇳🇱 Farmers Defence Force, representing 8 agro-organisations, (95% of the industry), locked out of the 1st round of negotiations.

💠 Protests 🔥 previously erupted over the gov't's draconian nitrogen oxides curbing plan.

💠 Gov't policy will result in the destruction of meat/diary farming 🐂 🐄 in The Netherlands.

💠 Dutch 🚜 farmers have been resilient in not backing down.

💠 Netherlands 🇳🇱 plan to implement CO2 emission social credit scheme.

Video courtesy Big Picture.

🔹Moldova 🇲🇩 - Protesters call for the resignation of the president & the gov't yesterday (Nov 28). Police detained 26 people who behaved 'suspiciously'. Protestors called for criminal investigation against gov't officials involved in mass corruption & abuse of office.

Previous posts on this channel:

💠 Nov 13th, 60,000 protestors marched through Chisinau, escorted by retired military & veterans.

💠 Oct. 30th, Stand-offs between Moldovans & police grow violent amid protests over inflated 📈 prices for gas, electricity, water & other utilities.

💠 Oct. 23rd, police 🚓 brutalities continued amid a breakout of protests in Moldova. 🇲🇩

💠 Oct. 16th, 50,000 protestors gathered across Chisinau🇲🇩, the capital of Moldova. Weekend before 60,000 protested.

💠 Thousands protest high energy prices during September in Chisinau. State-backed gas distributor Moldovagaz failed to fulfil wholesale payments to its sole gas supplier, Russia's 🇷🇺 Gazprom.

🔹The Eurasian Economic Union (EAEU) 🇷🇺 🇦🇲 🇰🇿 🇰🇬 🇧🇾 is interested in setting up a common payment system with BRICS nations. Plans include a single payment card that unites the national payment systems including Russia’s Mir, China’s Union Pay, India’s RuPay, Brasil’s Elo & others.

🔹Vladimir Kovalev, EAEU Advisor, said "The global financial system is changing, there is a need to create a new reserve currency & a settlement currency". "Taking into account the structure of trade relations between the BRICS 🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦 & the EAEU, the use of national currencies in mutual settlements is most justified".

Last reported on this channel:

💠Russia’s 🇷🇺 Minister of Economy, urges EAEU towards formation of an alternative system of international settlements

💠 "Interested SCO member states" 🇷🇺🇨🇳🇮🇷🇮🇳🇵🇰🇰🇬🇰🇿🇹🇯🇺🇿 agreed a "roadmap for the gradual increase in the share of national currencies in mutual settlements", outside western currencies/payment systems

Video courtesy Left Lens.

🔹Moscow 🇷🇺 & Beijing 🇨🇳 are developing a system of settlements to allow cross-border transactions without using SWIFT. This could transform the ruble & yuan into world reserve currencies.

🔹Russia 🇷🇺 is now the 4th largest user of the yuan, after Hong Kong, UK, & Singapore. Yuan's share of Russian FX up from 1% to 45% 📈. Russian brokerages reported that their clients were keeping an increasingly large part of their assets in 🇨🇳 yuan.

Last reported on this channel:

💠 China 🇨🇳 signed a 27-year landmark $60 billion agreement for purchases of LNG from Qatar 🇶🇦.

💠 Payments for supplies of petroleum products are being proactively shifted to national currencies🇷🇺🇨🇳.

💠 Russian 🇷🇺bank, VTB launches money transfers to China in yuan, bypassing SWIFT.

💠 Gazprom move payments for gas exports to China 🇨🇳 away from USD/Euros.

💠 Ruble-yuan 📈 trade up 1067% in Q2 of 2022.

💠 Russia 🇷🇺 added grain & sunflower oil to the list of exports that must be paid for in rubles.

Video: Sean Foo

🔹Russia 🇷🇺 is discussing a possible “gas union” with Kazakhstan 🇰🇿 & Uzbekistan 🇺🇿 to support shipments between the 3 countries & to other energy buyers, including China 🇨🇳.

🔹Kazakhstan 🇰🇿 & Uzbekistan 🇺🇿 have rapidly developing economies, with a growing domestic demand for gas. “Russia, Kazakhstan & Uzbekistan have effectively had a single gas transportation system ever since the Soviet times.

🔹The 3 countries are connected by the Central Asia – Center gas pipeline system controlled by Gazprom. It runs from Turkmenistan via Uzbekistan & Kazakhstan to Russia. A separate pipeline, Central Asia – China, crosses both Uzbekistan & Kazakhstan on its way from Turkmenistan 🇹🇲 to China 🇨🇳.

🔹Imports of Russian 🇷🇺 liquefied natural gas 🚢 to the EU 🇪🇺 have increased by 42% (17.8 bcm) between the months of Jan & Oct 2022 mainly to Belgium, France, Spain, & the Netherlands. The EU's share in Russian LNG however lowered by 16% in 2022 as a result of also a 42% increase of US LNG imports.

🔹EU 🇪🇺, moves closer to confiscation of Russia's 🇷🇺 assets, frozen in western jurisdictions. EU says, one short-term option is to create a fund to manage & invest liquid assets belonging to Russia's Central Bank. This way they are technically not taking the assets, just the proceeds from investing it.

🔹The EU failed to tell Europeans that, seizing frozen assets is only legally possible where there is a criminal conviction. The EU 🇪🇺 decision to recognize Russia as a state supporting terrorism is the first step towards making a 'legal' case for confiscation.

🔹Assets of blacklisted Russian 🇷🇺 citizens are also difficult to seize as they are registered as belonging to family members or trustees.

🔹The EU 🇪🇺 has undermined ‘Lex Mercatoria’ (Latin – ‘Merchant Law’). The autonomous legal order of international economic relations for trade & rules for settling disputes. The west has now destroyed, how money & currencies function in relationship to trade & private property rights.

🔹Dutch 🇳🇱 farmers protest gov't imposed nitrogen rules that are destroying farmers livelihood. Yesterday (Dec. 1st) clashes with police & arrests occurred in the province of Overijssel in Zwolle. (Protest videos in the comments)

🔹The Dutch gov't has warned farmers 🚜 “there is no better offer coming” but to sell off their farms to the state or adopt stringent nitrogen rules. Farmers claim these rules will destroy the industry.

Last reported on this channel:

💠 The Dutch 🇳🇱 gov't plans to buy & close down, up to 3,000 farms near environmentally sensitive areas.

💠 🇳🇱 Farmers Defence Force, representing 8 agro-organisations, (95% of the industry), locked out of the 1st round of negotiations.

💠 Protests 🔥 previously erupted over the gov't's draconian nitrogen oxides curbing plan.

💠 Gov't policy will result in the destruction of meat/diary farming 🐂 🐄 in The Netherlands.

💠 Dutch 🚜 farmers have been resilient in not backing down.

💠 Netherlands 🇳🇱 plan to implement CO2 emission social credit scheme.

🔹India's 🇮🇳 finished steel imports from Russia hit 4-year high in April-October, up 400%. Indian steelmakers 🏭 have so far imported record 5-6 million tonnes of Russian coking coal in 2022/23, compared with less than 2 million tonnes last year.

🔹India 🇮🇳 scrapped export taxes on low-grade iron ore & on some intermediate steel products after months of complaints from miners & steel makers about loss of foreign sales opportunities.

🔹Russia's 🇷🇺 Severstal Steel Co. faces $400 million in losses due to western sanctions imposed on their international accounts & warehouses.

🔹Lower inventory levels at Chinese 🇨🇳 ports suggest that China, which buys about 70% of global seaborne iron ore, has scope to lift imports in coming months.

🔹🇦🇺 Rio Tinto (world’s largest iron-ore producer) expects iron-ore shipments from its Australian mines to be steady in 2023.

🔹Recently, we reported that multiple steel plants shut down or are idled across Europe 🇪🇺 due to high energy & natural gas prices.

🔹"December's Eurostat Report for Oct. 2022".

Industrial producer prices up by 30.8 % in the euro area & by 31.2% in the EU 🇪🇺compared with October 2021.

🔹The highest monthly increases 📈 in industrial producer prices were recorded in Greece 🇬🇷 (+9.6%), Hungary 🇭🇺 (+6.2%) and Belgium 🇧🇪 (+2.8%).

🔹Industrial producer prices in the euro area (EA-19 💶) & EU (EU-27🇪🇺) respectively in October '22, y/y, increased by:

📌Energy Sector - 65.8% & 67.0%,

📌Intermediate Goods - 17.4% & 17.6%,

📌Non-durable Consumer Goods - 16.0% & 17.1%,

📌Durable Consumer Goods - 9.8% & 10.0%,

📌Capital Goods - 7.5% & 7.7%.

🔹However, when October '22 is compared to September '22, industrial producer prices are down 📉, by 2.9% in the euro-area & by 2.5% in the EU.

🔹Italian🇮🇹 gov't places Russia's Lukoil owned ISAB refinery in Sicily under trusteeship with talks of a possible future nationalisation. Lukoil, Russia's 🇷🇺 2nd largest oil & gas co. was not sanctioned by the US, & the refinery is the 2nd largest in Italy & 5th largest in Europe.

🔹The EU 🇪🇺 embargo on imports of Russian crude by sea 🚢 takes effect on December 5. The Italian gov't, is trying to keep the refinery operational & avoid risks to jobs, also they want to avert risks of litigation with Lukoil for nationalisation.

🔹Lukoil said it is ready to ensure uninterrupted operation, given the feedstock stored up for the coming months are of non-Russian origin 🛢 oil to comply with the EU embargo. Lukoil wants to be a reliable partner for all its clients, suppliers & contractors.

🔹U.S. 🇺🇸 authorities have reassured Italy that its banks are not at risk of fines for breaching sanctions against Moscow if they help a Lukoil-owned refinery buy non-Russian oil.

🔹Nigerian President Muhammadu Buhari urges heads of neighbouring states participating in the Lake Chad Basin Commission to confront the issue of Western arms smuggling from Ukraine.

🔹The Nigerian 🇳🇬 president & other African 🇧🇯 🇹🇩 🇳🇪 🇨🇫 presidents agreed to step up military coordination in their countries' war against Boko Haram & ISIS terrorists, who are now receiving weapons from Ukraine.

🔹In October, Finland 🇫🇮 began warning of weapons sent to Ukraine making their way to different countries criminal gangs.

🔹CBS retracted a report on Aug 7th, that 70% of weapon deliveries to Ukraine 🇺🇦 end up in a black hole of corruption. Also a USA-made stinger from Ukraine was detained in Germany.

🔹In July, this channel warned about weapons from 🇪🇺NATO countries to Ukraine being purchased on the dark web (pics in original post). We also drew reference to two Caesar self-propelled howitzers ($7 million each) sold by Ukrainians to Russia 🇷🇺 for $120,000 though an intermediary.

🔹 OPEC+ agrees to stick to its existing policy of reducing oil production ahead of the G7/EU🇪🇺 oil price cap on Russian 🇷🇺 seaborne crude.

🔹Led by Saudi Arabia 🇸🇦 & Russia in OPEC+, a 2 million barrels per day production cut was started in November.

🔹An OPEC+ statement yesterday, (Dec 4th) pushed back against criticism of OPEC+'s decision, saying the cut had been "recognized in retrospect by the market participants to have been the necessary and the right course of action towards stabilizing global oil 🛢markets."

Last reported on this channel:

💠 Oil inventories in developed economies are at their lowest level 📉since 2004.

💠 India 🇮🇳 continues to have no interest in joining the EU/G7 led oil price cap on Russian crude.

💠 Saudi Arabia's 🇸🇦 energy minister warns nations' that use emergency oil reserves to manipulate prices.

💠 OPEC+ defends their role in 🛢 oil market stability at JMMC of the OPEC+ group HQ 🇦🇹.

Video courtesy Algeria's 24News

🔹French 🇫🇷 President Macron said there was no reason to panic about possible power cuts this winter. He called on citizens to use less energy & on state utility EDF 💡to restart nuclear plants 🏭 to prevent outages in case of cold weather.

🔹France is accused of helping to fund Russia 🇷🇺 by continuing to import Russian nuclear fuel. EDF has revealed plans for a massive recruitment drive to bolster ageing nuclear reactors.

🔹The U.K. 🇬🇧 will become a 50% shareholder in EDF's new nuclear power plant project after China's 🇨🇳General Nuclear Power Corp. exited the project.

Last reported on this channel:

💠 🇫🇷 EDF said that it had lowered its nuclear output target for 2022 due to the impact of strikes on its reactor maintenance schedule.

💠EDF is rushing to get nuclear power stations 🏭 online. 20 of 56 offline due to strikes & corrosion issues. (Last reported 6 of 12 with corrosion issues being repaired).

💠The French 🇫🇷 gov't to fully nationalize the EDF. which runs a 29 billion Euro loss.

🔹Brent ($82.40) & WTI ($88.19) crude prices up over 3%, as EU/G7 price cap of $60 🛢 on Russian 🇷🇺 seaborne crude comes into effect.

🔹Russian Urals crude trails WTI & Brent price trajectory. Urals-Brent differential (usd/bbl) has been $23 avg. in the past 3 months. Urals 🛢 crude is trading today above the imposed price cap on international markets of $60.62.

🔹Some anticipated a price drop today, but this has not happened. Western media claim OPEC+'s confirmation to continue an already implemented production cut decision & China 🇨🇳 oil buying as the reasons for todays oil price increases.

Last reported on this channel:

💠 Russian 🇷🇺 Deputy PM Novak warns of an unpredictable surge in oil prices due to the EU/G7 oil price cap.

💠 Oil inventories in developed economies are at their lowest level 📉since 2004.

💠 India 🇮🇳 continues to have no interest in joining the EU/G7 led oil price cap on Russian crude.

💠 Oil inventories in developed economies are at their lowest level since 2004.