tybs
morning
aye nice to see
Doing ok…moar activity etc, kinda payin' for it but that life
You'd think an actual major issue was going on-it rains a little and 'stormpocalypse'-basically equal to an anoon dhere (at least here-N Cal getting hammered thoug)
Gettin some here-badly needed but these peeps are so dramatic and can't drive in it either
<--–
Planefag Europe/Med Activity: The 'rats' left and leaving Rome after Benedict funeral: German AF GAF832 A32-and they have the biggest amount of 'guests',President Frank-Walter Steinmeier or Olaf Scholzalso in attendance were speakers of both houses of parliament and the chief justice of the Federal Constitutional Court for Germany, Belgian AF Falcon 7xKing Philippe and Queen Mathildedropped off at Nice and AC departing back to Brussels-must be nice, Czech AF CEF02 A319 PM Peter Fialaback to Prague, Spanish AF4511 Falcon 900Queen Sophiaback to Madrid, Hungarian AF HUAF103 A319President Katalin Novákback to Budapest, Cyprus AF CAF001 Embraer 135FM Ioannis Kasoulidesback to Larnaca, Croatian AF 9ACRO CL-600, Slovenia AF LSV401 'slumming it' in an L-410 Turbolet, Polish AF PLF101 737President Dudaback to Warsaw
Thousands mourn Pope Emeritus Benedict XVI in unprecedented Vatican City funeral
https://www.usatoday.com/story/news/world/2023/01/05/pope-benedict-funeral-vatican-city/10991531002/
Italian AF PERSE71 G550 SIGINT over eastern Poland and ID USAF F-15 did some roundies on Poland/Ukraine border and now back to Lodz AB, REDEYE6 E-8C Joint STARS also over central/eastern Poland and further south we have VIPER72 F-16 out into the Adriatic from Aviano with QID31 KC-135 tanker and another C-17 appears on the same track as the 20 over the last 10 days-lotsa those RCH172 back to Ramstein AFB see yesterday 18073417 pb and over to the left side we have RAF RRR9956X Eurofighter and RRR9958 MRTT KC-2 Voyager that came out of Syria via Jordan) and back to Cyprus, Spanish AF4509Falcon 900 west from Athens depart and finally GLASS50 USAF C-146 Wolf hound 'Special Ops' departed Sigonella AB NW along with RG01 C-2 Greyhound off the USS Poppy Bush (CVN77) also to Sigonella AB, Sicily
became world's richest man purely by accident-currently #2 and 'lost' $3.3B already today.
Bernard Arnault is #1 nao and he 'lost' $2.3B today too
https://www.forbes.com/real-time-billionaires/#6f586b133d78
>Puma Energy Accessing US Dollars
The continued and slow-motion train wreck destruction of the US$
https://www.marketwatch.com/investing/index/dxy
Silvergate Shares Plunge After Withdrawals Top $8.1 Billion During Crypto Meltdown
Here are some of the top headlines (via Bloomberg) from Silvergate's call with investors this morning:
*SILVERGATE SAYS CLIENTS ARE TAKING HUGE PAUSE IN CRYPTO
*SILVERGATE NOT SEEING CLIENTS CLOSING ACCOUNTS, LEAVING CRYPTO
*SILVERGATE FOCUSED ON BEING BEST PROVIDER FOR CRYPTO SPACE
*SILVERGATE SAYS MAY BECOME TARGET FOR LARGER BANKS IN FUTURE
*SILVERGATE: REGULARLY ENGAGES WITH FED, FDIC, OTHER REGULATORS
*SILVERGATE DECLINES TO COMMENT ON PENDING CLASS LAWSUITS
*SILVERGATE SAYS TAKING COMPLIANCE, RISK MANAGEMENT SERIOUSLY
*SILVERGATE CITES SLOWDOWN OF INSTITUTIONAL CLIENTS INTO CRYPTO
Silvergate Capital shares have been on a rollercoaster in the last 24 hours. Soaring 27% on a short squeeze Wednesday and now down 40% on Thursday morning after the crypto bank reported a run on deposits following the FTX bankruptcy, slashed its workforce by 40%, and shelved plans to launch its own digital currency.
Amid the FTX debacle in the fourth quarter, the bank said in an early release of some quarterly results that crypto-related deposits plunged 68%. The digital asset industry has undergone a transformational shift, with significant over-leverage in the industry leading to several high-profile bankruptcies. These dynamics have sparked a crisis of confidence across the ecosystem and led many industry participants to shift to a "risk off" position across digital asset trading platforms. In turn, Silvergate's total deposits from digital asset customers declined to $3.8 billion at the end of the fourth quarter. Silvergate was forced to liquidate the debt it was holding on its balance sheet to satisfy the surge in withdrawals. It expects a $718 million loss in the selling of debt that exceeds the bank's total profits since 2013.
As a result of the run on withdraws and souring crypto space, Silvergate also announced it would slash 40% of its workforce, or approximately 200 employees, "in order to account for the economic realities facing the business and industry today." Silvergate said it had $4.6 billion in cash at the end of the fourth quarter, more than its $3.8 billion in remaining deposits. And another $5.6 billion in U.S. government or agency-backed securities were liquid. An update on the Silvergate Exchange Network ("SEN") Platform that enables institutional investor clients to send dollars and euros 24 hours a day to change for crypto was still "operating 24/7 with average daily volume totaling $1.3 billion."
The company also shelved its own digital currency planned for an early 2023 launch, specifying it would "take an impairment charge of $196 million in the fourth quarter of 2022 related to developed technology assets purchased from the Diem Group."
Alan Lane, chief executive officer of Silvergate, said: "In response to the rapid changes in the digital asset industry during the fourth quarter, we took commensurate steps to ensure that we were maintaining cash liquidity in order to satisfy potential deposit outflows, and we currently maintain a cash position in excess of our digital asset related deposits."
Silvergate shares tumbled more than 40% in premarket trading. Current @11.94-10.01 (-45.60%)
https://www.zerohedge.com/crypto/silvergate-shares-plunge-after-withdrawals-top-81-billion-during-crypto-meltdown
earthen dam and way past it's prime-and that was 20 years ago
Gilroy gonna get flooded (member the FF Garlic Festival shootings).
Creek gonna flood Hiway 101 and the only major southern access point to the Santa Clara Valley-plus the truckers from the central valley use 152 (2 lane road both sides, but only 1 each way around that) from the 5
US Trade Deficit Unexpectedly Plunges In Biggest Drop Since Global Financial Crisis (that manufactured one in 2008)
In a day when strong jobs data (Challenger, ADP, Initial Claims all coming in strong or stronger than expected) has been viewed by markets as bad for risk assets as it signals continued economic strength and continued rate hikes by the Fed, we got yet another conflicting economic signal, this time from the latest US trade deficit, which narrowed in November by much more than expected. According to the BEA, the November trade deficit narrowed to $61.5b from $77.8b in prior month, coming in below the median estimate of $63.0BN (and just barely missing the top end of the range of $61.3BN to $80.5BN from 42 economists). Remarkably, the 20% one-month decline in the deficit was the single biggest drop in the US trade deficit on a percentage basis going back to the global financial crisis. And while it would have been welcome economic news if the drop in the deficit was the result of a surge in exports, the plunge was driven not by rising exports but rather by shrinking imports - a telltale sign of economic slowdown - with consumer goods, industrial supplies, capital goods and autos all contributing to the decline, the US Bureau of Economic Analysis said. To wit, while exports fell 2% in Nov. to $251.9BN from $257.0BN in Oct, imports fell a striking 6.4% in Nov. to $313.4BN from $334.8BN in Oct. Here are the detials:
Exports of goods and services decreased $5.1 billion, or 2.0 percent, in November to $251.9 billion. Exports of goods decreased $5.3 billion and exports of services increased $0.2 billion.
The decrease in exports of goods reflected decreases in industrial supplies and materials ($3.6billion) and in capital goods ($1.3 billion). An increase in consumer goods ($0.9 billion) partly offset the decreases. The increase in exports of services reflected increases in other business services ($0.1 billion), in telecommunications, computer, and information services ($0.1 billion), and in charges for the use of intellectual property ($0.1 billion). A decrease in travel ($0.2 billion) partly offset the increases. Imports of goods and services decreased $21.5 billion, or 6.4 percent, in November to $313.4 billion. Imports of goods decreased $20.7 billion and imports of services decreased $0.8 billion.
The decrease in imports of goods reflected decreases in consumer goods ($8.8 billion), in industrial supplies and materials ($3.7 billion), in automotive vehicles, parts, and engines ($3.3 billion), and in capital goods ($3.0 billion). The decrease in imports of services reflected decreases in transport ($0.7 billion) and in travel ($0.4billion). An increase in charges for the use of intellectual property ($0.2 billion) partly offset the decreases.
Whether the plunge in imports is due to a the reverse bullwhip effect, or general economic malaise is unclear; adding to the confusion, the slowdown in US consumer demand for foreign goods and services will serve to boost GDP due to the way net trade is imputed for GDP purposes. In other words, expect a jump in Q4 GDP estimates due to a plunge in US imports.
https://www.zerohedge.com/economics/us-trade-deficit-unexpectedly-plunges-biggest-drop-global-financial-crisis
Cap #2 is the #s w/o Oil
The blue line is the total deficit, and the black line is the 'petroleum deficit', and the red line is the trade deficit ex-petroleum products.
254632 (16)
873e95 (20)
80df64 (33)