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U.S National Security, Part 3: Don’t Underemphasize Freedom

U.S National Security, Part 3: Don't Underemphasize Freedom

Opinion: The following article is commentary and its views are solely those of the author. This article was first published the 30th of December via The Angry Demagogue.

 

Conclusion

The post-Cold War world that the Strategy Paper tries to figure out is much more than the collapse of the Soviet Union and the rise of China. One of the main goals of the Trump administration is to turn the clock back on “globalization”, be it via tariffs, other economic ways or even, military means.

While the world is panicking over AI’s destruction of good white collar jobs, it has, paradoxically, created a world where the auto industry can’t find enough qualified mechanics at nice six figure salaries. Not even ten years ago the journalists were haranguing out of work blue collar workers with “go learn to code”, the beer guzzling crew can now tell the tearful journalists and Hollywood “writers” who can’t write better than AI to “go learn how to weld” (or at least handle a screwdriver). But the strategic issues we are facing go beyond manufacturing jobs.

The challenge to the United States and to other free countries is how to handle a new reality where massive debt threatens the diminution, if not the destruction, of the life style we have all come to take for granted and where revanchist regimes don’t quite understand that their power and “prestige” is a result of what has been built in those free countries they want to replace. China, like Russia, Iran, Turkey, Qatar and the non-state actors like Hamas, Hezbollah, the Moslem Brotherhood and others don’t quite understand that while they can use, and even sometimes improve on what freedom has provided them, they will stagnate once they attain their goal of defeating and destroying the free world.

As advanced as China becomes and even if it flies to the moon, overtakes the United States in AI and quantum computing and manages to make the United States into only the breadbasket of the world, they will stagnate as only free markets and free people can move the world to the next step. Growth can only be accomplished by free people. True enough, the economy often grows in ways that we don’t always like, the alternative is stagnation and a return to the pre-scientific age. For all the talk of “new man” and “progress” and everything else that the Soviet Union strived to create, they produced no medicines, no medical devices and no medical treatments.

Therefore, the defeat of the revanchist world and the preservation of freedom needs to be the paramount goal of American foreign policy. This does not mean the creation of democracies where none have ever existed and it does not mean sending troops in every time a political prisoner is arrested or even a plan to militarily defeat the CCP, but it does mean always supporting free countries against the unfree even when the United States is also “friends” with the unfree one.

This means that it will also give free countries leeway when their interests do not align perfectly with America’s (non-core) interests. America as sole protector of the free world has leverage that America as midwife to a set of regional alliances does not. This is a choice that America can make and a correct reading of the Strategy Paper tells us that the United States no longer wants to or can be the main power in every region in the world. This means that there needs to be a change in attitude in America so that it cannot force its will on its allies just because there is another contract to be had or another “cause” that has caught the eye of the country’s establishment.

Encouraging regional alliances of free countries such as the new Eastern-Med Alliance that has already been established between Greece, Cyprus and Israel is a prime example. In addition to the economic cooperation there has been joint defense training and there are agreements that will lead to a defense cooperation pact if not a NATO-like security treaty. Turkey is the common competitor, or enemy, of these three countries. Turkey claims certain Greek islands, occupies parts of Cyprus and has designs on Israel as it strives to be the Islamic “liberator” of Jerusalem. There are gas exploration agreements and cooperation and there would have been a pipeline to Europe if the Biden administration had not stopped it (while they approved the Russian-German pipeline).

Italy ought to be a natural member of the East-Med Alliance and maybe the dissolution of NATO will make them realize that they have more in common with Israel and Greece than they think they do. If Italy were to join then that would create a powerful naval and air deterrence of free countries against aggressors in the eastern Mediterranean. The addition of Malta, a small but strategically important country south of Sicily would provide naval bases that could control the sea lanes between north Africa and Europe helping to stem illegal migration and Turkish attempts to control those same lanes. Malta also brings with it a history of defeating Suleiman the Magnificent in a four month siege when the Ottomans tried to conquer this important island. As we stated before, the United States as a “midwife” to alliances cannot instruct countries on their own national interests. That means that allies of the United States will clash but America must always come down on the side of the free countries and not the revanchist power – in this case, Turkey.

There are of course other regional alliances that can come into being and a remake of the post-WWII world is in order. The end of the cold war created economic booms across the globe raising hundreds of millions of people out of poverty, but recent decades have seen an increase in terror and tyranny and that itself needs to be dealt with. If not by the United States alone then by the US along with the regional alliances that the Strategy Paper has highlighted and we have demarcated (partially) here. But concepts like “territorial integrity” (see Syria, Somalia and the rest of Africa) and “sovereignty” have lost their moral imperative as they are used as excuses by tyrants (and their enablers at the UN) to further their cruelty. One of the faults of the old “liberal international order” has been allowing tyrannies the same rights and respect as free countries. During the Cold War, when nuclear war loomed, this might have made sense but after the fall of the Soviet Union these “principles” have created more harm than good.

In the National Security Strategy of the administration, the words “free” and “freedom” appear twenty times, but never in the context of an alliance of free countries. While it speaks of freedom of religion and speech and free markets it never speaks of the need to put allies that are free ahead of friends that are not free. Allies are those countries that share values and will come to your aid because of that. Friends, in international affairs, are those that look to short-term gain and have no desire to further your values or interests. There is no reason that the United States, in its current fiscal condition needs to fight the fight of freedom around the world alone, but neither can it abandon that fight in the pursuit of short-term contracts or frivolous causes.

Disclaimer: the views expressed in this opinion article are solely those of the author, and not necessarily the opinions reflected by angrymetatraders.com or its associated parties.

You can follow Ira Slomowitz via The Angry Demagogue on Substack https://iraslomowitz.substack.com/ 

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Significant Highs All Around as Speculation Grows Frothy

Significant Highs All Around as Speculation Grows Frothy

Gold, platinum, and the major U.S indices are all flirting with record values. Fast trading is being seen on all fronts, dangerous reversals are also being displayed and causing harm for day traders. The U.S government shutdown remains in full force. Not enough pain has been heard from the U.S public yet which would make politicians pause and actually try to negotiate a deal.

Milestone apex values have been experienced. Gold has produced the 4,000.00 USD per ounce level and sustained value, the Nasdaq 100 toppled 25,000.00 the past two days, but has moved lower for the moment. Conditions for day traders are swift and they need to be careful. And while the U.S government is shuttered, the Federal Reserve is still expected to announce their FOMC interest rate decision on the 29th of October. A Federal Funds Rate cut of 25 basis points is still anticipated.

Gold Three Month Chart as of 8th October 2025

Forex has seen jittery results as the EUR, GBP, JPY have struggled in recent trading versus the USD. And while some people may point to the stellar results and values within Gold and Bitcoin as evidence for safe haven wagers being placed, large speculators are playing a key ingredient in the broad markets too. Investors are certainly looking for value and have a belief that buying now represents a discount compared to what Gold and equity values will be over the long-term. However, day traders should also remember that a large amount of influence in the markets derives via behavioral sentiment, and as record highs are being challenged anxiousness grows regarding potential responses from speculative forces particularly when profit taking remains a part of wagering.

Nvidia Three Month Chart as of 8th October 2025

While questions and concerns are heard about a possible AI bubble being experienced and too much money being invested in equities like Nvidia, Oracle, Microsoft, etc., folks need to understand long-term investors are gearing their portfolios towards outlooks. Betting on these companies playing a significant role in technological advancements is a long-term viewpoint which works on optimism. Artificial intelligence is important, but the motor that runs AI infrastructure via semiconductors, big data distribution, servers and cybersecurity are crucial. The promise of quantum computing is also experiencing a surge of investment because of a belief in the future.

USD/JPY Three Month Chart as of 8th October 2025

And that is what day traders who are tempted to bet against the trends in the marketplace need to remember. Investors will not bet against Wall Street because of the government shutdown. In fact, they will certainly be heard joking that corporations run more effectively with less government intrusion.

This is not a simple puzzle. Complexity certainly needs to be considered regarding valuations in the EUR/USD, GBP/USD and USD/JPY. Intriguingly, day traders may want to take a look at the South African Rand too, because technically it continues to be strong against the USD, which is rather out of step and a rather interesting non-correlation. The broad Forex market has lost some its luster for day traders the past year because of a lack of perceived volatility across the board. But volatility may be on the way, the Japanese Yen certainly stands out and should be watched via the USD/JPY and JPY crosses in the coming days and weeks.

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AMT Top Ten Miscellaneous Complexities for the 14th of June

AMT Top Ten Miscellaneous Complexities for the 14th of June

10. International Tech Research: Universities and institutions around the world are developing innovative systems to deliver a quantum future. Cal-Berkeley, MIT, Cambridge, the Barcelona Supercomputing Center, the Institut Polytechnique de Paris, and the Cleveland Clinic are only a few of the places in the ‘West’ that investors should monitor for developments, Asia is also very focused on high speed computing.

9. Musk Schedule: The tech mogul has had a busy week. His Tesla stock option compensation package was approved by shareholders yesterday. In 2018 Musk negotiated a package with Tesla that included a massive compensation agreement via stock options if he met valuation targets over a 10 year period. He achieved the valuation goals within only a few years. Musk also formally dropped his lawsuit against OpenAI and Sam Altman in recent days, this after the enterprise released emails showing Musk backed OpenAI’s pursuit of profits in the past. Around 2015 Musk invested about 45 million USD into OpenAI.

8. Muted Data: The U.S Consumer Sentiment and Inflation Expectations numbers will be released today via the University of Michigan. However these numbers are likely not going to impact financial assets in the U.S. The Fed and CPI results from the States published this past Wednesday will dominate the investing narrative. Searching for meaning regarding why assets move in a particular direction is the media’s job, but perceived realities always remain open to complex interpretations as real time prices are exhibited. Day traders need to be cautious of revisionist history.

7. Petrol Dollar: Saudi Arabia has not reconfirmed its commitment to transact Crude Oil exports with USD. The formal agreement reached in 1974 has expired. Forex traders should not panic about this development yet. Speculators should note that Saudi Arabia is likely to still demand most of their payments in USD since they can count on the valuation of the currency to remain relatively tranquil compared to other instruments like China’s Yuan. What the absence of an agreement between the U.S and Saudi Arabia does indicate unfortunately, is that U.S foreign policy continues to look vulnerable.

6. Optimism: A South Africa government coalition agreement could be formalized soon and create a better economic outlook for the nation. While geo-political concerns remain, and the ANC is not a 100% friendly philosophical match with the Democratic Alliance and some of the other political parties which will be involved, it appears a working agreement can be reached. The question in South Africa is if transparent fiscal and anti-corruption mandates can be accomplished while diverse political outlooks will be heard and demanded from different factions. For the moment, financial institutions seem to like what they are hearing and the USD/ZAR has edged lower in the past week.

5. Highly Valued: Gold is over 2300.00, BTC/USD is near 67,000, and Cocoa is within sight of 11,000. Speculative large players remain active, and traders looking to take advantage of short and near-term fluctuations in these commodities need to remain vigilant. Cocoa, while extremely dangerous to trade, has outperformed gold and Bitcoin recently. Investors in gold think long-term, and Bitcoin influencers preach ‘hold on for dear life’ as non-believers shake their heads in disagreement. However, daily gyrations influenced by large players can still wreck havoc on those looking for short-term wagering opportunities.

4. Zombie Fed: Cautiously optimistic undertones were served from Jerome Powell as expected this past Wednesday, but intriguingly Powell admitted some government data remains open for interpretation, particularly the suspiciously strong headline jobs numbers which are being questioned. The Fed now says its outlook is for one interest rate cut this year. Financial institutions likely believe the Fed remains too reactive. The U.S GDP has shown signs of struggling, and CPI numbers have begun to erode. Crude Oil prices remain under 80.00 USD. However, the Fed seems intent on still pumping the brakes in order to kill off inflation via the high Federal Funds Rate. It would help if the U.S govt stopped spending cash recklessly, and the U.S Treasury stopped printing money.

3. Equities: U.S political concerns as the election approaches will create more analysis paralysis than normal. Short-term behavioral sentiment may sound nervous, but a bullish trend and risk appetite remain evident. Day traders may be able to take advantage of technical trading via support and resistance in CFDs, but fundamentally financial institutions appear inclined to count on equity indices achieving record highs.

2. 157.000 – 158.000: Today’s BoJ decision to remain stuck in the mud has created more financial institutional dismay in some quarters, and the the Japanese Yen will be punished occasionally against the USD. But the folks at the BoJ are not stupid and likely anticipated the USD/JPY move higher which ensued. The BoJ is obviously preserving its ‘soft devaluation’ of the JPY in order to maintain an export advantage for the U.S and European consumer markets. The question is if and when the BoJ will buy billions worth of JPY in order to punish bullish USD/JPY Forex speculators occasionally.

1. Volatile Near-Term: EUR/USD and GBP/USD price action has been boiling. France and the U.K have crucial elections in the coming weeks, after policies in both nations have led to a lack of confidence in the ruling governments. The ruckus outcome from the E.U Parliament voting have created an intriguing complication. Oddly enough, the U.K may be the left’s torch bearer in the coming year, while other European nations drift towards the right. Can centrists create a middle ground? Volatility and the search for equilibrium via financial institutions may create a lot of opportunities for Forex day traders in the coming weeks in the EUR/USD and GBP/USD as reversals and trends are sought.

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AMT Top Ten Miscellaneous Politicos for the 7th of June 2024

AMT Top Ten Miscellaneous Politicos for the 7th of June 2024

10. Three P’s: Pragmatic and populist politicians are clashing in a world that seeks to try and sell utopian visions from all sides, instead of admitting realities that should be understood and defined, thus creating a more dangerous world. It would be funny if it weren’t so serious.

9. Investment: Pasqal, a quantum tech company located in France founded in 2019, and IBM have announced a collaboration to integrate efforts on creating quantum centric supercomputing architecture. The quest for fully functioning applications appears to be years away as theories such as neutral atoms are studied and applied, and cooling systems are pressed to their limits. However, a transition into working research continues to build momentum. Accelerated investment paths for those seeking the quantum golden goose are flourishing.

8. Three C’s: Cocoa, Coffee and Copper are creating speculative storms for traders as volatility has seen apex values, then dramatic drops, followed by violent reversals higher in the commodities. Cocoa is back above 10,100 USD per metric ton as of this writing, and Coffee Arabica and Copper have been delivering huge profits and staggering losses for large players and day traders who continue to wager.

7. India: Narendra Modi has retained power after a hard fought voting outcome has diminished some of his power. However, fears that turned the Nifty 50 index sharply lower earlier this week, also created a market discount for long-term investors. Foreign investors continue to have a positive economic outlook for the nation. It will not be a surprise to see the Nifty 50 back to pre-election levels and challenging record highs soon, yet again delivering a lesson for day traders who are speculating on the short-term instead of being patient.

6. South Africa: Coalition government discussions are ongoing and will grow in noise in the coming days as a deadline to conclude an agreement approaches. The ANC is said to be talking seriously with the Democratic Alliance, but the Congress of South African Trade Unions which is strongly aligned with the ANC is against the move. It has recently been reported that South Africa’s ports are among the least dependable in the world by the Container Port Performance Index. Poor infrastructure, corruption and a lack of transparency are hurting South Africa. The ANC decision in the coming week regarding a coalition is vitally important. Either it will decide to make concessions and bring the DA in as a working government partner and hopefully build a bridge towards a better South Africa, or the ANC will decide on a hard-left coalition which could potentially bring it to a Venezuela or Zimbabwe type of outcome. The USD/ZAR will react.

5. Conservatives: The U.K election is less than one month a way, and Labour appears set to take power and control Parliament with a large majority. The failure of the Tories to create the perception of successful economic, foreign, and social polices that resonated with the public, appears to be easing the way for a ruling Labour government which has not been seen since since 2010.

4. Carry Trade: The EUR/USD will become an interesting test ground for carry trade fundamentals in the coming weeks and months. The ECB cut its Main Refinancing Rate as anticipated yesterday by 0.25%, but said it is neutral about more cuts. The ECB explained it was able to cut interest rates yesterday, because current inflation levels have dropped enough that a modification of interest rates was needed, but that it remains cautious about inflation in the future. This statement and policy could potentially allow for the Federal Reserve to become the more dovish central bank over the mid-term and lead to a stronger EUR/USD. How much will financial institutions wager on this notion in the near-term?

3. USD/JPY: Serenity now should be the new mantra for the BoJ. The Bank of Japan seems to be waiting on the Fed to sound more dovish, which could stop the need for the BoJ to intervene again. The USD/JPY remains high and is currently testing the 155.000 to 156.000 range in a fairly steady manner. The Bank of Japan will release its Monetary Policy Statement on the 14th of June. While Forex tranquility has been demonstrated the past couple of days, conditions may change rapidly later today and day traders should brace for price velocity.

2. U.S Indices: Equity values have recovered in the Nasdaq and S&P indices, and while the Dow 30 is below apex highs it is still within sight of the 40,000 level touched on the 20th of May. Treasury yields have traded slightly lower this week which has ignited risk appetite again. Gold is trading below the 2,400.00 USD ratio, but still comfortably above 2,300.00 for the moment. If Treasury yields continue to experience a downturn, institutional investors are likely to funnel cash into the stock market.

1. Data: U.S jobs numbers via the Non-Farm Employment Change and Average Hourly Earnings figures will be published today. The result will certainly set the path for the Federal Reserve’s June 12th FOMC meeting. Yesterday’s weekly Unemployment Claims came in weaker (more claims filed) than expected and other jobs data was weaker the past few days via JOLTS and the ADP statistics. All financial assets will react to the U.S data today. Weaker jobs numbers would create more confidence among institutional investors that the Fed will have to sound dovish rhetoric regarding potential cuts to the Federal Funds Rate in the coming months. Fast trading conditions are coming today.

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AMT Top Ten Miscellaneous Blossoms for the 31st of May 2024

AMT Top Ten Miscellaneous Blossoms for the 31st of May 2024

10. European Supremacy: The NBA Championship between Boston and Dallas is set to begin on the 6th of June. If the Dallas Mavericks win, it will mean Giannis Antetokounmpo in 2021, Nikola Jokic in 2023, and Luka Doncic in 2024 were victors, and are cementing the terrain as the best players.

9. Brisk Breeze: The need for ‘chill’ among AI and server companies isn’t only about attitude. The advent of quantum computing will add to the wintry demands. Vertiv, Asia Vital Components, and Auras Technology are a few of the enterprises in the industrial environment sector helping deliver precision cooling for the technologies to work efficiently.

8. Glitches: Stalled data within the S&P 500 and Dow Jones 30 for their index calculations took place yesterday for nearly one hour, but individual trading within companies via stock prices appears to have been unaffected. Futures trading for the two indices weren’t affected. On Monday the 18th of March, Nasdaq suffered a tech problem that stopped pre-market trading for a couple of hours.

7. OPEC: The cartel will conduct a one day online meeting this coming Sunday. Production levels will be discussed, among other issues. The price of WTI Crude Oil as of this writing is below 78.00 USD per barrel. While news remains stuck in hyperbole from the Middle East, the price of Crude Oil has declined since the first week of April.

6. Conviction: Donald Trump was found guilty in a NYC courtroom yesterday, but the verdict is certain to be appealed. The law of unintended consequences could come into play from the U.S as reactions generate. The perceived notion that ineffectual and non-credible leadership is mounting in the U.S, lends credence to some people around the globe regarding dwindling American exceptionalism.

5. Results: South Africa voting counts will be finalized sometime this weekend, India’s election count will be known on the 4th of June. The unknown outcomes are affecting the USD/ZAR and USD/INR, and more volatility in the currency pairs should be expected early next week.

4. Coincident: GDP results came in around their expectations yesterday. Growth numbers produced a gain of 1.3%, while the GDP Price Index showed a 3.0% climb. The data produced does show the U.S economy is slowing and is another ripple to be considered by analysts and traders.

3. USD/JPY: The Bank of Japan appears to be betting on weaker U.S data to continue, and potential dovish Fed rhetoric on the 12th of June to propel the USD/JPY lower, thus helping the BoJ to remain on the sideline and avoid an intervention for the moment. The BoJ will release their Policy Rate decision on the 14th of June and many eyes will be on the central bank’s Monetary Policy Statement.

2. Inflation: The Core PCE Price Index report outcome today is anticipated to be around the 0.3% ratio. The Federal Reserve pays plenty of attention to this publication and if the number meets the expectation or comes in below it, this could cause a repeat of the Fed’s dovish December 2023 FOMC Statement. Financial institutions have already begun wagering that the Federal Funds Rate could be cut this summer and later again this year. Many assets will react to today’s inflation report.

1. Behavioral Sentiment: Nervous price action has been seen in the equity indices and Forex this week. Investors may have felt they got a little ahead of their risk appetite curve and now appear to be waiting on more solid impetus to reconfirm their outlooks. Choppy price action has certainly been fueled by U.S Treasury yields which increased earlier this week. Losses in the S&P 500, Dow 30 and Nasdaq the past handful of days are now waiting for buyers to reemerge. The question day traders may want to consider is if financial institutions and large investors believe assets will cost less next week, or if prices have now hit worthwhile support levels which will spur on buying today?

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AMT Top Ten Miscellaneous Picks for the 26th of April 2024

AMT Top Ten Miscellaneous Picks for the 26th of April 2024

10. Salk Institute: Work known as the Harnessing Plants Initiative is focused on optimizing the ability of plants to help combat climate change, sometimes via root systems in order to help reduce carbon dioxide. Problematically when plants die they do release carbon dioxide too. One key to the HPI project maybe altering the affects of Suberin. The Salk Institute received 50 million USD last year from the Hess Corporation to fight climate change.

9. Anticipation: Chicago is celebrating today after landing quarterback Caleb Williams and wide receiver Rome Odunze as hoped. However, as the August 2024 Democratic National Convention approaches, trepidation for the potential of nasty demonstrations is building.

8. Quantum Investing: Oak Ridge National Laboratory has announced a successful test using the H1-1 computer via Quantinuum to study the spread of disease via quantum mathematical models. Honeywell International Inc. owns a large stake in Quantinuum which is a stand alone company valued at approximately 5 billion USD.

7. Speculative: Gold is near 2348.00, the price is below values seen last week, but remains high via some perspectives as the USD creates havoc.

6. Forex: Whipsaw volatility has been seen in foreign exchange as financial institutions fight to get a proper gauge on their mid-term outlooks. Equilibrium will continue to be fought over today.

5. Fixed Income: U.S Treasury yields are battling within higher ground as investors look for guaranteed returns as behavioral sentiment remains fragile. And there is a likelihood the next four days of trading will continue to produce a whirlwind.

4. Equities: Major U.S indices continue to grapple with headwinds caused by a murky economic outlook. Retail traders speculating via CFD’s should remain careful. Patience is a key for the S&P 500, Nasdaq Composite, and Dow 30. Trying to ‘time’ the indices for short-term wagers is dangerous because technical trends are vulnerable.

3. Data: U.S Core Personal Consumption Expenditures Price Index statistics will be released today, inflation via the GDP Price Index came in higher than expected yesterday. Forex will react to the PCE results which is anticipated to have a gain of 0.3%. Financial institutions do not need another scare today. The Revised University of Michigan Inflation Expectations reading should also be given attention which will be published afterwards.

2. BoJ: The Bank of Japan is clearly playing a game of truth or dare with Forex. Having held interest rates at merely 0.10% earlier today, the USD/JPY climbed comfortably above 156.000 and is presently near the 156.540. The BoJ will remain in the news as the USD/JPY trades around a 34 year high. As financial institutions clamor for a higher interest rate, the BoJ apparently is more concerned with creating dynamic export demand and growing Japan’s economy, believing it can keep inflation under control. Speculators need to be on alert for an intervention from the Bank of Japan, but cannot count on one either.

1. Analysis Paralysis: The Federal Reserve was served an intriguing dose of results via the lower than expected growth numbers from the Gross Domestic Product yesterday, while digesting a higher GDP Price Index. Jerome Powell has stressed caution and patience. However, yesterday’s stubborn inflation numbers with waning growth creates the prospect for stagflation. This is an important political year because of the upcoming U.S elections in November. Next Wednesday the Fed’s FOMC Meeting pronouncements will be made. There will not be a change to the Federal Funds Rate on the 1st of May. It is the FOMC Statement’s vocabulary which will get attention. Today’s inflation reports will play a role in next week’s Fed meeting. Day traders may want to tune out political noise from pundits today which will certainly be sounded. The inflation numbers globally are tricky, and have created overthinking by investors and central banks which remain mostly reactive.

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AMT Top Ten Miscellaneous Postings for the 5th of April 2024

AMT Top Ten Miscellaneous Postings for the 5th of April 2024

10. Petrichor: The pleasant smell after a rain has fallen following a long dry spell which elicits earth’s fragrance. The Fed is likely hoping for this sensation via ‘weaker’ Non-Farm Employment Change numbers today. In December the Federal Reserve spoke about data signals needed in order to cut interest rates. If jobs statistics are stronger than anticipated, there will be no ‘petrichor’ for the Fed.

9. Underreported: Five engineers from China on their way to work for the Dasu dam project they participated, were killed in a ‘suicide’ terrorist attack in Pakistan on the 26th of March. Terror attacks in Pakistan on Chinese involved with infrastructure ‘Economic Corridor’ work have been increasing.

8. Qubits: Microsoft and Quantinuum recently announced they have made breakthroughs regarding quantum computing research reliability. Results have shown 14,000 ‘test routines’ without errors. The emergence of quantum technology approaches.

7. Intrinsic Value: Cocoa is near 9640.0 USD per metric ton as of this morning and remains speculatively energetic. Bitcoin is slightly below 67,000 USD and continues to ‘beat’ the notion that intrinsic value is important.

6. Precious: Gold prices have ‘fallen’ below 2300.00 USD per ounce, and is near 2289.00 for the moment, but the metal is shining as crowds admire its ability to create a safe haven.

5. WTI Crude Oil: Middle East news is rumbling and hyperbole is resonating, the price of the commodity is over 86.40 USD per this writing. A calm weekend, and peaceful end to Ramadan this coming Tuesday might help calm nerves. Higher oil prices will not help global inflation.

4. Forex: The USD/JPY has started to experience waves of volatility and has recently challenged long-term highs. Bottom line is the notion that large players are positioning for today’s U.S data which will affect all financial assets as USD centric power resounds.

3. Equities: The U.S major stock indices are beginning their day near lows not seen since the 15th of March for the Dow 30, and the 19th of March for the S&P 500 and Nasdaq Composite. Nervous?

2. Bonds Watch: U.S Treasuries need to be monitored as the 5, 7, and 10-Years Notes respond to nervous investors and fears of a new ‘inversion’. Having come off of high yields a couple of days ago, doesn’t mean all is well as values languish near late September 2023 technical realms.

1. Data: Recent chatter from many Fed FOMC members have created anxious investors. Vivid reactions will occur after the Non-Farm Employment Change and Average Hourly Earnings. Bluntly, today’s jobs reports are crucial and the Fed would like the results to be weaker than anticipated in order to consider cutting interest rates. However, if hiring comes in stronger, it would be a sign of a resilient U.S economy and would ignite more USD strength. The first half hour following the jobs numbers may look counter-intuitive regarding price action as financial institutions adjust their trading positions.