🔹Germany 🇩🇪 may extend the life of its three remaining nuclear power plants, 🏭 which are scheduled to be shut down by year-end.The three plants made up 6% of Germany's power 🔌 production in the first quarter of 2022.

🔹The declining water level of the Rhine river, a key transit artery 🚢 across Germany, 🇩🇪 continues to fall and as it does, the flow of commodities to inland Europe 🇪🇺 is starting to buckle. The alarming lack of water is contributing to oil 🛢 product supply problems in Switzerland 🇨🇭and preventing at least two power plants in Germany from getting all the coal they need. The 800-mile (1,288-kilometer) Rhine river runs from Switzerland all the way to the North Sea.

🔹European energy and utilities companies are racking up 📈 more debt to cover the cost of soaring oil and gas prices. Germany’s 🇩🇪 Uniper SE looks set to need about 9 billion euros in funds.

🔹Iran’s 🇮🇷 official foreign currency exchange has listed the Russian 🇷🇺 currency and launched trading in the ruble/rial currency pair. Trade 🚢 between the two countries grew by 31% in the first four months of this year. Russia and Iran have also discussed the unification of their banking systems.

🔹Russian 🇷🇺 Energy Giant Gazprom has signed a memorandum of understanding (MoU) worth US$40 billion with Iran’s 🇮🇷 National Iranian Oil Company (NIOC) after reckoning that it cannot guarantee gas supplies to Europe.

🔹Tehran 🇮🇷 is preparing the necessary documents to meet requirements through all the procedural stages in order to join the Shanghai Cooperation Organization (SCO).

Interesting clip of President Putin 🇷🇺 in a meeting, explaining why a western financial crisis and food crisis is looming.

Remember back in.......

🔹August '21 - The Fed continued to provide $120 BILLION in QE per month. 📈 The largest QE program the Fed ever ran from 2008-2014 was $80 billion per month.

🔹August '21 - Peter Schiff warns "The limiting factor on consumption is the number of goods that you produce. If you simply produce more money and let people use it to buy stuff, well, prices just have to go up. That’s what these guys (the FED) don’t seem to understand yet – that you can print money, 💰but you can’t print stuff." 🛢

🔹Sept '21 - Why are so many important food processing facilities suddenly erupting in flames? 🔥 Some fertilizer prices have more than tripled, and as a result much less fertilizer will be used in 2021. 🌾 When less fertilizer is used, yields are smaller and less food is produced. In 2022, global food production will be way below original expectations.

🔹Protesters in Panama 🇵🇦 have brought much of their nation to a halt, setting up roadblocks to demand more jobs, relief from soaring food and fuel prices, and an end to official corruption. The blockades are now leading to shortages, particularly of agricultural products, in the capital Panama City.

🔹The closures, including of the Pan-American Highway, have forced the national electric company to ration electricity 🔋 in Darien province, which borders Colombia. Tankers carrying gas to run the power generation plant cannot arrive. Police have been using tear gas against protesters.

🔹Unconfirmed report - In Lake Gatun, right in the middle of the Panama canal ⚓️, two American🚢🚢 patrol ships have been anchored for several days. Very unusual.

(Video - Compilation of protests in the past few days)

🔹Former US 🇺🇸 Army psychological warfare (psyops) officer Scott Bennett claims Americans are deceived by CIA propaganda. He then explains how western media are engaged in a propaganda 📺 campaign backed by their governments to deceive the public about what’s going in the world. (Video)

🔹Meanwhile, the US National Counterintelligence and Security Centre in its July 2022 report, claims that China 🇨🇳 is engaged in psyops to manipulate the US state and local leaders to support the policies that are favourable to the CCP.

Update to Gazprom's force majeure on Nordstream 1.

🔹10-day maintenance on NordStream1 completed. Gas supplies via the NordStream 1 gas pipeline resumed at 04:00 GMT today and @ 40% capacity. Gas turbine required to increase capacity & safe operation. A report claim that Canada 🇨🇦 had made the sanctions exemption and sent the gas turbine by plane to Germany 🇩🇪 after multiple requests by German officials. Should reach Russia 🇷🇺 around July 24.

🔹Gazprom 🇷🇺 says, it is still awaiting documents from Germany's Siemens, to allow it to be delivered to Russia and for installation. Another report claim the gas turbine was flown ✈️ to Cologne, Germany, 🇩🇪 from Canada on 19th July.

🔹Austrian 🇦🇹 oil and gas group OMV said Gazprom is expected to deliver roughly 50% of their agreed gas volume. Italy's 🇮🇹 Eni says it would receive about 36 million cubic metres of gas from Gazprom, up from previous 32 million cu. metres prior to maintenance.

🔹Observation on weather 🌦 news coming from Europe. Amid the headlines such as "Climate change drives Europe towards record fire year" etc. Has anyone observed (images attached) that if you compare weather weather maps from 5 years ago (2017) to the exact date there is a discrepancy? Media weather reporters have changed the colour spectrum 🌈 & ranges for temperatures to include more alarming colours at low temperatures. Note, there is no universally defined color standards for weather maps.

🔹Of course this does not negate that there are new 🌡 high temperature historical records, this post is more focused on the alarm and panic being perpetuated by western media.

🔹 The wildfires 🔥 are a major concern however. The amount of burned European 🇪🇺 countryside has more than tripled this year, with almost 450,000 hectares charred through July 16, compared with a 2006-2021 average of 110,000 hectares in those same months.

🔹China’s 🇨🇳 holdings of US 🇺🇸 Treasuries fell from US$1.003 trillion in April to US$980.8 billion in May, the lowest since 2010. A desire by Beijing to avoid “the risk of possible conflict” with Washington could have contributed to China cutting its holding of US government debt to below US$1 trillion for the first time in over 12 years.

🔹Hong Kong 🇭🇰 also slashed its holdings from US$195.4 billion in May to US$186.6 billion last month. China’s current holding of US Treasuries represents around a 25 per cent retreat from its peak of US$1.32 trillion in November 2013 and a 10.4 per cent fall since Joe Biden took over as US president in January 2021.

🔹Chinese junk dollar bonds 💵 are on the brink of a record low, as the nation’s property crisis deepens with pain spreading from developers to suppliers and banks.

🔹Netherlands 🇳🇱 - The Dutch port of Rotterdam on July 21 announced that it will halt container transport to and from Russia 🇷🇺 adhering to the sanctions imposed by the EU 🇪🇺. Port website states - "In anticipation of the sanctions on coal and oil, less Russian coal, crude oil, oil products and LNG were imported 🚢 in recent months. Companies are increasingly importing from other countries,".

🔹Reuters reported the port’s ⚓️ throughput dropped by 1.5% in the first half of this year amid the conflict in Ukraine and the sanctions. The report said in 2021 30% of all oil 🛢coming to Rotterdam was from Russia, while Russian gas made up 25% of all imports, and coal 20%.

🔹EU 🇪🇺 prevents action against Russian 🇷🇺metals company VSMPO-Avisma PJSC at the last minute, EU diplomats said, after France 🇫🇷 and other member states objected to sanctions over fears of a potential retaliatory ban by Russia on titanium exports to the bloc. The company is a critical supplier of titanium to ✈️ Airbus SE, headquartered in France.

🔹Europe has lost about half of its zinc and aluminum smelting capacity 🔥within the past year, and a further surge in power prices 📈 could knock more plants offline. The aluminum and zinc ⛏ industries aren’t major direct users of gas, but the vast amounts of power that smelters consume has left them at the sharp end of Europe’s crisis.

🔹A deal to unblock much-awaited grain 🌾 exports from Ukraine was signed at the 🇺🇳 UN-brokered talks in Istanbul, Turkey. Under the terms of the deal, representatives of Ukraine, 🇺🇦 Russia 🇷🇺, the UN, and Turkey 🇹🇷 agreed to open a joint coordination center in the Turkish capital to oversee shipments from Ukraine, and to maintain safe transit routes for these shipments across the Black Sea.

🔹Though Ukraine has mined 💣 the waters near the ports, there is no further need for de-mining. Rather, Ukrainian pilots will guide the ships 🚢 along safe channels in its territorial waters, with a minesweeper vessel on hand as needed but no military escorts. Monitored by the JCC, the ships then transit the Black Sea to Turkey’s Bosphorus Strait and off to world markets. 🚢

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🔹Warm welcome yesterday in Cairo, Egypt 🇪🇬 for Russia's FM Sergey Lavrov as representatives of 22 nations on the Arab League Council (AL) line up to greet him.

🔹AL Secretary General Ahmed Abul Gheit held a session of talks with visiting 🇷🇺 Russian Foreign Minister Sergey Lavrov on ways of fostering Arab-Russian ties and the latest regional and international developments of common concern.

🔹In remarks in front of the AL, the top Russian diplomat greatly appreciated what he called "a balanced, just and responsible stance" of the league’s member states regarding the Ukrainian crisis.

✳️ NB There are unconfirmed reports that the US State Department told the AL representatives not to take photos with Russia's FM, as it would be 'bad PR'. 😂

Special post for subscribers who are gold and silver 🪙 bugs:

🔹Update to story circulating of a Texas, 🇺🇸 female, billionaire who has purchased a large amount of Silver Eagles, (update) 👉and intends to buy more. Coin dealer Andy Schechtman of Miles Franklin Precious Metals reportedly filled her order. Therefore this order could be a legit explanation for the premium stickiness 📈 over the last several months.

🔹If and when fiat money 💵 suddenly becomes useless, precious metals still have something of value to trade for supplies. 💰Silver is one of the more popular choices for this purpose.

🔹Silver is tied at the hip to copper more and more, especially with a war showing the vulnerability in economies. The combination of recession fears in the US, failed reflation fears in China, drove CTAs to sell silver more aggressively along with Copper. They initiated shorts in copper and silver for months and finally broke them along with a lack of 🇨🇳 Chinese buying.

🔹Gazprom 🇷🇺 will stop the operation of a second Siemens turbine. As a result, supply through the Nord Stream 1 pipeline 🔥 will not exceed 33 million cubic meters per day from July 27, corresponding to 20% of the pipeline's capacity.

🔹Several of the nine turbines at the 🇷🇺🇫🇮 Portovaya compressor station are in need of repair. Gazprom has not yet authorised further repairs, and the last turbine took about three months to overhaul.

🔹If Russian gas flows through the Nord Stream pipeline remain low, Germany 🇩🇪 will not be able to fill the reservoirs to 95% in November, ⛄️❄️ as targeted by the government. Europe's TTF gas contracts spiked today as a result.

💠 My take- It seems clear now that Gazprom is not taking any chances so as to ensure safety of it's equipment. They seem uneasy, even paranoid after 🇩🇪 Siemens delayed technical and legal documents from 🇨🇦 Canada to verify that the last turbine was serviced as contractually agreed. Does Gazprom fear tampering/sabotage of their turbines?

🔹The price of natural gas in Europe has climbed to its highest level since March 📈 amid fears of a further reduction in Russian 🇷🇺 supplies. It comes after it was announced that another turbine, used by the Nord Stream 1 pipeline, will be shut down.

🔹August futures on the TTF trading hub in the Netherlands 🇳🇱 reached $2,020 per thousand cubic meters or €188.68 ($192.5) per megawatt-hour💡in household terms. European NatGas 1m forward is trading at a massive $48 spread over front-month US 🇺🇸 NatGas futures - almost 5x its historical peak. Basing the pricing of EU natural gas in terms of 🛢 barrels-of-oil equivalent, it is trading at $333. - (Photo)

🔹The EU Commission 🇪🇺 is discussing plans to get emergency powers that would allow it to impose block-wide gas rationing from August to May. (Communism through the back-door?)🤔

Wheat 🌾 update this week:
🔹US- 🇺🇸 North Dakota: Spring wheat crop in good shape, but behind normal pace. Eastern Montana soil moisture profiles were extremely lacking during planting, and the region has struggled with drought ☀️ conditions through the growing season.

🔹Wheat prices in India 🇮🇳 have risen about 14% in the past 1.5 months, due to high demand from millers.

🔹Kazakhstan's 🇰🇿 wheat harvest in 2022 will be 15%-20% above last year's level at 13-13.5 million tonnes.

🔹Lebanese 🇱🇧 lawmakers have voted to use a $150 million World Bank loan to import wheat for its cash-strapped country.

🔹African 🇨🇬 countries tries wheat import substitution using sweet potato and cassava flour.

🔹 India - 🇮🇳Prime Minister Narendra Modi will visit Gujarat International Finance Tec-City on July 29 in Gandhinagar, where he will launch several initiatives including the country’s first international bullion exchange.

🔹 The India International Bullion 🪙 Exchange (IIBX), which will facilitate efficient price discovery with the assurance of responsible sourcing and quality, apart from giving impetus to the financialisation of gold in India. This also re-enforces the commitment of the Government of India towards enabling India to be able to influence global bullion prices as a principal consumer,".

🔹 Meanwhile, Zimbabwe 🇿🇼 has launched gold coins 💰to be sold to the public in a bid to tame runaway inflation that has further eroded the country’s unstable currency. Trust in Zimbabwe’s currency is low after people saw their savings wiped out by hyperinflation in 2008.

🔹Cards of the 🇷🇺 Mir payment system have started being accepted in South Korea. 🇰🇷

🔹Iran and Russia working on introduction of Mir payment system in Iran 🇮🇷.

🔹Syria 🇸🇾 considers important to be connected to Russia’s Mir payment system in the environment of the West’s sanction policy.

🔹Desperate for Russian tourists, Cuba 🇨🇺 starts accepting Mir cards.

🔹Russia invites Sri Lanka 🇱🇰 to recognise Mir payment system to boost Russian tourist arrivals. ✈️

🔹The record-high release of crude oil from the U.S. 🇺🇸Strategic Petroleum Reserve will end as scheduled this fall. A total of 180 million barrels of crude 🛢was planned for release. US announced steps to repurchase oil for the SPR “in future years, likely after FY2023.

🔹Libya, 🇱🇾 plagued by port blockades and protests at oil facilities in recent months, has now managed to raise its oil production to 1.1 million barrels per day.

🔹Iran's 🇮🇷 revenues 💰 from exports of oil and condensate surged by 580% during the first four months of the current Iranian year that begins on March 21.

🔹China 🇨🇳 Evergrande CEO and chief financial officer have resigned after preliminary results of an investigation found the two were involved in diverting loans.

🔹China’s Banking regulator may intervene into the ongoing mortgage boycott and give affected homebuyers 🏠 a mortgage holiday without penalties.

🔹New report claims that China's State Council had passed a $44.4 billion bailout plan 💵aimed at certain Chinese property developers.

Video - An intermediary in China's housing market explains the complicated web of China's housing bubble.