56 cargo ships were stuck at anchor or in drift areas off of Los Angeles and Long Beach ports. The ports are currently dealing with 140 total ship in the ports, including 87 freighters, according to the Marine Exchange of Southern California. The queue is a result of COVID-19-related disruptions, and holiday-buying surges, paired with a national labor shortage. Port of Los Angeles data indicates that ships' average wait times have increased to 8.5 days. https://www.msn.com/en-us/money/markets/an-all-time-high-of-56-cargo-ships-are-stuck-waiting-off-the-california-coast-as-shipping-ports-hit-their-4th-record-backup-in-three-weeks/ar-AANTZ9J
Msn
An all-time high of 56 cargo ships are stuck waiting off the California coast, as shipping ports hit their 4th record backup in…
The labor shortage, COVID-19, and holiday-buying surges are causing shipping disruptions and delays at two of the most important ports in the US.
Hungry families are taking a hit as lorry driver shortages are leaving the UK’s largest food bank charity at risk of losing nearly a third of its daily food supply. FareShare, the UK’s biggest food-bank network, said it is losing out on around 30 per cent of the food it normally receives each day due to the issues affecting the haulage industry. https://inews.co.uk/news/hgv-driver-shortage-food-bank-uk-charity-daily-lorry-supplies-1199957?ito=twitter_share_article-top
inews.co.uk
HGV driver shortage hits hungry families as UK’s largest food bank supplier loses a third of its daily stock
FareShare said it is losing out on around 30% of the food it normally receives each day due to the issues affecting the haulage industry
Spot propane prices at Mont Belvieu, Texas, have reached their highest levels since 2014 ahead of the winter season on fears of low inventory. Energy inflation could be problematic for commercial and residential users of the fuel that heats building structures and powers vehicles, gas grills, patio heaters, generators, among many other uses.
https://www.eia.gov/dnav/pet/hist/eer_epllpa_pf4_y44mb_dpgW.htm
https://www.zerohedge.com/commodities/propane-prices-soar-inventory-concerns-mount-ahead-winter
https://www.eia.gov/dnav/pet/hist/eer_epllpa_pf4_y44mb_dpgW.htm
https://www.zerohedge.com/commodities/propane-prices-soar-inventory-concerns-mount-ahead-winter
ZeroHedge
Propane Prices Soar As Inventory Concerns Mount Ahead Of Winter
Propane is set up for a volatile ride this upcoming fall/winter season as supplies are about 20% below the five-year average for this time of year...
Fertilizer producer CF Industries Holdings Inc halted two fertilizer plants in the UK. CF Industries Holdings, a top manufacturer of hydrogen and nitrogen products said the manufacturing facilities suspended operations "due to high natural gas prices." https://www.zerohedge.com/commodities/major-uk-fertilizer-plants-shuttered-due-skyrocketing-natural-gas-prices
ZeroHedge
Major UK Fertilizer Plants Shuttered Due To Skyrocketing Natural Gas Prices
"The market will read this as other..."
A ransomware attack that paralysed the IT systems of the Department of Justice and Constitutional Development has brought the Master’s office for South Africa’s courts to its knees. https://mybroadband.co.za/news/security/414440-south-africas-legal-system-on-its-knees-after-cyberattack.html
MyBroadband
South Africa’s legal system on its knees after cyberattack
The Department of Justice allegedly did not pay its IT service provider for two months prior to the ransomware attack that has crippled South Africa’s courts, the DA has said.
The People’s Bank of China is pulling out all the stops to promote the e-currency to a population far more used to transacting on a daily basis using Tencent Holdings Ltd.’s WeChat Pay and Alibaba Group Holding Ltd.’s Alipay. The central bank has rolled out pilot programs in 11 cities and regions from Shenzhen to Hainan so far and has recruited major banks and technology firms to help get an otherwise indifferent population to make the switch to the e-yuan. https://www.bloomberg.com/news/articles/2021-09-14/digital-yuan-goes-head-to-head-with-alipay-wechat-in-beijing
Bloomberg.com
Digital Yuan Goes Head to Head With Alipay, WeChat in Beijing
The first outbreak of African Swine Fever (ASF) in the Western Hemisphere in four decades began on July 28 in the Dominican Republic and was confirmed by the United States Department of Agriculture (USDA). The presence of ASF has led to massive hog culling on the Caribbean island that borders Haiti. Bloomberg notes the island may have to slaughter more than half a million pigs to prevent the deadly swine fever virus from spreading. https://www.zerohedge.com/commodities/us-pork-exports-dominican-republic-spike-amid-pig-ebola-outbreak
Zerohedge
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
The Syrian capital was thrown into darkness after an “attack” on a gas line feeding a major power plant. “There was a significant direct drop in gas pressure, which led to the failure at the Deir Ali power station... as a result of an attack on the gas line,” Minister of Electricity Ghassan al-Zamil told the Syria TV channel late on Friday, though added that few details were yet known about the purported attack. https://www.rt.com/news/535178-syria-blackout-gas-pipe-attack/
RT
Syria suffers widespread blackout after ‘attack’ on gas pipeline feeding key power station – electricity minister
The Syrian capital was thrown into darkness after an “attack” on a gas line feeding a major power plant, the country’s electricity minister told state media, noting repairs are underway and that the issues would soon be resolved.
Iran is set to join the Shanghai Cooperation Organization led by China and Russia as a full member, a move experts say will give Tehran more influence over Central Asia -- including war-torn neighbor Afghanistan. https://asia.nikkei.com/Politics/International-relations/Iran-to-gain-Central-Asia-clout-with-entry-into-SCO-security-club
Nikkei Asia
Iran to gain Central Asia clout with entry into SCO security club
China and Russia-led group expands amid fear of radical spillover from Afghanistan
Soaring natural gas prices across the UK have disrupted companies from operating. The latest is slaughterhouses that use carbon dioxide, a byproduct of fertilizer derived from natural gas. Surging natural gas prices is a massive blow for poultry companies, which frequently use a byproduct of fertilizer production -- carbon dioxide -- to incapacitate birds at slaughterhouses. https://www.zerohedge.com/commodities/uk-gas-crisis-stuns-poultry-slaughterhouses
ZeroHedge
UK Gas Crisis Stuns Poultry Slaughterhouses, May Trigger Higher Chicken Prices
"I would expect it to be having impacts very quickly."
The crisis engulfing Evergrande, China’s second-biggest property company, is the greatest test yet of President Xi Jinping’s effort to reform the debt-ridden behemoths of the Chinese economy. The more extreme prophecies of doom for China may be no more correct than the assumption that Beijing will simply step in and bail out Evergrande to make sure the fallout from the failure of a property giant does not spread to other areas of the Chinese economy. https://www.theguardian.com/world/2021/sep/17/chinas-lehman-brothers-moment-evergrande-crisis-rattles-economy
the Guardian
China’s Lehman Brothers moment?: Evergrande crisis rattles economy
President Xi Jinping faces serious test of his financial reforms as struggles of property giant send ripples through real-estate sector
US - An Iowa grain co-op said it was hit with a cyberattack that security researchers are linking to newly launched ransomware group BlackMatter, which the researchers said demanded $5.9 million to unlock the organization’s data. https://www.wsj.com/articles/iowa-grain-cooperative-hit-by-cyberattack-linked-to-ransomware-group-11632172945
WSJ
Iowa Grain Cooperative Hit by Cyberattack Linked to Ransomware Group
New Cooperative said it was hit with a cyberattack that security researchers are linking to BlackMatter, which the researchers said demanded $5.9 million to unlock the organization’s data.
Hungary - On the day of the first round of the opposition primaries, meant to choose one joint candidate for every electoral unit in next year’s election, the pre-election was halted early afternoon by the overload of the IT system that fed the voting, Organisers later cited a targeted cyber attack. https://www.euractiv.com/section/politics/short_news/hungarian-opposition-primaries-suspended-after-cyberattack/
www.euractiv.com
Hungarian opposition primaries suspended after ‘cyberattack’
Brazil's coffee crop is expected to drop 25.7% this year compared with the record 2020 season, when 63 million bags were produced https://www.nasdaq.com/articles/brazilian-coffee-crop-seen-25.7-lower-in-2021-conab-2021-09-21
Nasdaq
Brazilian coffee crop seen 25.7% lower in 2021 -Conab
Brazil's coffee crop is expected to drop 25.7% this year compared with the record 2020 season, when 63 million bags were produced, according to Conab.
Indian mills are holding off on signing new sugar export contracts for the upcoming season as a rally in domestic prices to a 4-year high widened the gap between local and global rates. "Mills are not signing export contracts, as they are getting far higher prices in the local market. https://www.reuters.com/world/india/indian-mills-hold-off-signing-new-sugar-export-deals-local-prices-jump-2021-09-20/
Reuters
Indian mills hold off on signing new sugar export deals as local prices jump
Indian mills are holding off on signing new sugar export contracts for the upcoming season as a rally in domestic prices to a 4-year high widened the gap between local and global rates, industry officials told Reuters.
Britain is considering offering state loans to energy companies that take on customers from firms which go bust due to soaring wholesale natural gas prices https://www.reuters.com/world/uk/uk-may-give-state-loans-energy-companies-after-gas-price-rise-2021-09-21/
Reuters
Britain may give state loans to energy companies as gas prices surge
Britain is considering offering state loans to energy companies that take on customers from firms which go bust due to soaring wholesale natural gas prices, Business Secretary Kwasi Kwarteng said on Tuesday.
Evergrande sold Chinese retail investors around $6 billion in risky wealth management products. At a meeting with angry investors demanding their money back, executives acknowledged the WMPs were likely too risky for many retail clients. "Many people . . . might be arrested for financial fraud if investors don't get paid off," an Evergrande executive told the FT. https://www.msn.com/en-us/money/markets/evergrande-scrambled-to-sell-retail-investors-risky-wealth-management-products-amid-a-liquidity-crisis-and-fears-of-arrests-report-says/ar-AAOFrBh
Msn
Evergrande scrambled to sell retail investors risky wealth management products amid a liquidity crisis and fears of arrests, report…
Evergrande sold Chinese retail investors around $6 billion in risky wealth management products (WMPs), held by a base of around 80,000 investors, according to a new report by the Financial Times.
Russia's Central Bank Governor, Elvira Nabiullina noted that international business is gradually switching to other currencies, while Russia has changed the structure of its National Wealth Fund to cut out the dollar, “taking into account not only economic, financial considerations but also geopolitical, including sanctions risks.” https://www.rt.com/russia/535133-nabiullina-dollar-role-will-decline/
RT International
De-dollarization: Global status of greenback shrinking as countries look to trade in alternative currencies, says Bank of Russia…
The dollar’s role in both the Russian and global markets is still substantial, but interest in it will gradually decline in favor of other currencies, in particular the euro, the governor of the Bank of Russia predicted on Friday.
The British government is racing to avert shortages of meat, poultry and packaged foods amid a crisis in the food processing industry triggered by soaring energy costs. https://abcnews.go.com/International/wireStory/uk-hopes-restore-c02-supply-food-industry-days-80141608
ABC News
UK hopes to restore C02 supply to food industry within days
Britain’s business secretary says he hopes to reach an agreement to restore carbon dioxide supplies to food processors and avert potential shortages and price increases as the country deals with the fallout from soaring energy prices
“Ideally, a single plant would produce enough mRNA to vaccinate a single person,” adding the experiment is being done on spinach and lettuce with both “long-term goals of people growing it in their own gardens” and mass industrial production. https://www.visiontimes.com/2021/09/21/ucr-engineers-mrna-vaccines-lettuce-spinach.html?utm_medium=visiontimes&utm_source=telegram
Vision Times
Vaccine Hesitant? US Researchers Are Engineering Lettuce and Spinach to Carry mRNA COVID Jabs - Vision Times
Researchers at the University of California Riverside were awarded a $500,000 NSF grant to genetically modify spinach and lettuce to carry mRNA COVID vaccines.
TUVs can be created from any Smart Phone or Pre-Smart Mobile Phone, and then used for transfers, payments or other transactions worldwide between Members on the WM System. Their value can also be converted to and among any of the world’s Reserve Currencies. http://koreabizwire.com/globally-valid-multicurrency-cbdc-released-for-all-countries/199885
Be Korea-savvy
Globally-Valid Multicurrency CBDC Released for All Countries
ST PETER PORT, Guernsey and NEW YORK, Sept. 22 (Korea Bizwire) — The TUV Digital Currency released by Global Telephony Company …