The King of this World

The week ended on June 15, 2024. Interesting news items to look at this week are:

The King of this World: This week in politics earmarked many watershed moments that will cast a long shadow on things to come. In particular the question of who actually rules the world.

(i) European Parliamentary Election and G7 Meeting: The massive swing of votes to the left and right political spectrum against the existing ruling elites is an expression of dissatisfaction that European leaders did not take their countryman’s interests as a primary consideration. The UK Telegraph summarized the sentiment in a piece titled “Welcome to the most unpopular G7 summit ever”. The net approval rating of all G7 Leaders are negative and some very negative. (Fig. 1).

Macron immediately called a snap election in a gamble that the Paris Olympics would generate favorable results for the ruling regime. (Fig. 2).

Nothing can paper over the evil intentions behind the globalist agenda of the Ukrainian Color Revolution and subsequent conflicts over the past 10 years . No spin would white wash the apartheid Zionist Collectives and its crimes against humanity.

(ii) End of Petrol Dollar:  "Saudi Arabia's 50-year-old petrodollar agreement with the United States has expired, with no new agreement in place," BRICS News tweeted. "Saudi Arabia will now sell oil in multiple currencies, including the Chinese RMB, Euros, Yen, and Yuan, instead of exclusively in US dollars." (Fig. 3).

An alternative called “The Unit” is being planned and be tabled at the BRICS Summit at Kazan between October 22 to 24.

(iii) UN Security Council Resolution on Gaza Cease Fire : Finally after 247 days of genocide, the UN Security Council passed a binding resolution calling for ceasefire in Gaza. (Fig. 4).

What has been left out was a long term security arrangement for a two state resolution.

(iv) Putin Name Conditions for Ukraine Peace Talks: Ukraine must remove its troops from Russia’s new regions before any meaningful peace talks can begin, President Vladimir Putin has said. “Our side will order a ceasefire and start negotiations the minute Kiev declares that it is prepared to take this decision and starts actual withdrawal of troops from those regions, and also formally informs us that it no longer plans to join NATO,” the Russian leader pledged. (Fig. 5).

Zelensky has immediately rejected the proposal and continued with his two day Peace Summit in Switzerland without inviting Russia.

(v) US plans ‘Hellscape’ drone swarm in a Taiwan war: This month, The Washington Post reported that the US Indo-Pacific Command, led by Admiral Samuel Paparo, has announced a “Hellscape” strategy to use drone swarms to thwart any potential Chinese invasion of Taiwan. (Fig. 6).

The following are financial market performance for the first two weeks of June 2024.

A. Stock Market:  Dow Jones Industrial Average declined by 118 points to 38,589 or -0.3 %. (Fig. 7).

The market continued to be volatile as punters moved risk on or off according to outlook of inflation and Fed’s Pivot.

B. Debt Market: Yield on USGGYR10 dropped from 4.502% to 4.211% for the first two weeks of June (Fig. 8), a drop of 29 basis points as core inflation dropped from 3.61% to 3.42%.

The Fed remained unconvinced that interest rates can be lowered in the latest FOMC meeting.  

C. Commodities and Precious Metals: Trading results for first two weeks in June 2024 (Fig. 9) as follows: NASDAQ (+7.10 %), S&P500 (+3.84%), Oil (+1.04%), Russian Ruble (+0.92%), USD Index (+0.81%), Gold (+0.19%), JPY (-0.13%), CNY (-0.20%), GBP (-0.47%), Eur (-1.37%), Copper (-2.61%), Silver (-2.71%), Bitcoin (-2.74%), and Uranium (-7.02%).

The most notable event is the Eurozone cut in interest rate from 4% to 3.75%, the first time in 5 years. The weaponized US financial team took the opportunity to further jack up USD and pumped US Tech stocks higher, particularly Nvidia, Apple and Microsoft. There were minor profit taking in copper and silver but hedge funds still maintain large long positions in both.

II Corinthians 4:2  But we have renounced the hidden things of shame, not walking in craftiness nor handling the word of God deceitfully, but by manifestation of the truth commending ourselves to every man's conscience in the sight of God. 3  But even if our gospel is veiled, it is veiled to those who are perishing, 4  whose minds the god of this age has blinded, who do not believe, lest the light of the gospel of the glory of Christ, who is the image of God, should shine on them. 5  For we do not preach ourselves, but Christ Jesus the Lord, and ourselves your bondservants for Jesus' sake.6  For it is the God who commanded light to shine out of darkness, who has shone in our hearts to give the light of the knowledge of the glory of God in the face of Jesus Christ.