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GTMO844 Beech Huron on final at Ft. Lauderdale-Hollywood Airport
AZAZ09O9 C-560 from Ft. Bragg ne
PAT082 C-560 out of Detroit Metro sw - Started in Tucson with ground stops at Ft. Worth, Ft. Hood and current departure of Detroit
LOBO715 C-560 from MCAS Cherry Pt. Didi a roundtrip out to Kentucky and back to Cherry Pt-out and sw
Market Report-April 9th-2020
The Dow Jones Industrial Average rallied Thursday afternoon with shares of JPMorgan Chase and Boeing leading the way for the price-weighted average. S&P 500 was up 11.9% week to date, putting it on pace for its best week since 2008. It gave up a good portion of the initial gains going into the close but caught some decent volume in the last few minutes and headed up-DOW is over it's daily average volume, while NASDAQ and SP500 remain well below those. Gold had a decent pop as The Fed announced a slew of programs, including loans geared towards small and medium sized businesses, that will total up to $2.3 trillion. The central bank also gave more details on its plans to buy investment-grade and junk bonds. Thursday’s announcement was enough to outweigh another massive jump in weekly jobless claims. More than 6 million Americans filed for unemployment benefits last week. (still think seeing those checks will be a pipe dream but it will NOT be down to POTUS as he is surrounded by snakes who's only goal is to not do anything for the people). Also think that the ultimate goal by (((them))) is to place all of our assets into the FRBNY and sell them to China on the cheap-but that is jmo. Gold got a juice upwards after the FRB went full retard earlier to day-it has closed at it's print time at the highest in 7 years but has given back a little of that since that time. Oil has been whip-sawed up, down and every which way and gave up yesterday's gain and shit the bed later on- See cap#3-that was nothing moar then an OPEC offical (Algerian) re-stating what everyone knew already. VP stated categorically that no talks would habben between them and us on the proposal to cut between 10-15m bpd. Russia can handle this a lot easier as they have virtually no external debt (compared to everyone else) so VP is in the drivers seat here and they all know it. Opec+, made up of Opec producers and allies including Russia, has been holding talks via video conference. The U.S. stock market will be closed Friday due to Good Friday.
Jerome Powell had a Q&A today and uttered the following:
"These programs we are using, under the laws, we do these, as I mentioned in my remarks, with the consent of the Treasury Secretary and the fiscal backing from the congress through the Treasury. And we are doing it to provide credit to households, businesses, state and local governments. As we are directed by the Congress. We are using that fiscal backstop to absorb any losses we have." "Our ability is limited by the law. We have to find unusual, and exigent circumstances and the Treasury Secretary has to agree, and we are using this fiscal backstop. There is really no limit on how much of that we can do other than meet the tests under the law as amended by Dodd-Frank".
and keep in mind that the FOMC is a committee that decides monetary policy…not Jerome Powell. They have to have a "vote" by this committee to implement things. If they do not want to co-operate then they can just say "we voted not to implement these recd's from Treasury"-wait…THAT is coming. They are playing nice at present but this will get ugly and the "independance" of the FOMC to the FRB's overall scope will come into play down the road.
This is an opinion and only that-don't think I know exactly what is going on here but I do not think the FRB would just "give it up" without a fight-this is an optical battle and it will continue on.'
Now this is going to re-ignite the Treasury has swallowed Muh FRB arguements again and the only thing I see here is that since the FRB is constrained by law (as JP has stated above) they have to get the permission of Treasury to roll these things out-and who does the Treasury Sec. report to?-POTUS. This has always been the case and Hank Paulson did a few things similar during the 2008 bailout because the law ALREADY EXISTED. What has been done is that a very public reporting relationship on oversight has been announced IN PUBLIC..that is all. The FRBNY will continue to print and drop the trillions of paper-money creation it always has done.
In other FRB news Federal bank regulators issue interim final rule for Paycheck Protection Program Facility which means they are removing the rules that hold these loans against the banks capital requirements.
'''Federal bank regulators issue interim final rule for Paycheck Protection Program Facility
https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200409a.htm
https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart
https://finance.yahoo.com/quote/%5EDJI?p=^DJI
https://www.kitco.com/charts/livegold.html
https://www.marketwatch.com/investing/index/dxy