🇨🇳 China is stockpiling everything from Copper to Oil to Nickel to Iron Ore.

That's what you do AHEAD of a currency devaluation.

China is preparing something major.

More -> https://stenoresearch.com/steno-signals-96-a-major-devaluation-of-the-cny-could-be-imminent/

🇨🇳 The Chinese Oil reserves are almost 2x those of the US

They obviously need larger reserves as a smaller producer, but why is China stockpiling to this extent?

Full story:
https://stenoresearch.com/steno-signals-96-a-major-devaluation-of-the-cny-could-be-imminent/

JUST IN: 🇷🇺 🇨🇳 Russia and China have almost completely stopped using US Dollar for mutual trade, Foreign Minister says.

@WatcherGuru

✅ JPMorgan Urges 'Reality Check' on Fossil Fuel Divestment

The green agenda faces challenges, as JPMorgan calls for a sober assessment of fossil fuel divestment, warning that achieving net zero emissions could take "generations."

In its recent global energy strategy report distributed to clients, the bank highlights that efforts to diminish coal, oil, and gas usage have been hindered by factors such as rising interest rates, inflation, and conflicts in regions like Ukraine and the Middle East. JPMorgan notes, "...The variables have changed...Interest rates are much higher. Public debt is much higher and the geopolitical landscape is structurally different. The $3 trillion to $4 trillion that this will cost each year comes from a different macroeconomic environment."

The substantial investment needed may compel governments to reconsider more aggressive energy policies.

This assessment follows announcements from Shell and BP, who reduced their climate targets this year, along with criticism directed at numerous companies, including Microsoft, Unilever, and JBS, for failing to establish Science Based Targets Initiative-endorsed goals deemed "sufficiently ambitious."

Additionally, JPMorgan's analysts cast doubt on the International Energy Agency's prediction that oil and gas demand will peak in 2030.

#green #agenda
@songofoil

JUST IN: The New York Stock Exchange is considering a proposal for 24/7 trading, according to FT.

In other words, the stock market would never close much like crypto markets are now.

https://twitter.com/KobeissiLetter/status/1782385262409965630