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The Fed must walk a fine line Wednesday as financial markets hang in the balance

CNBC: The Federal Reserve concludes its two-day policy meeting Wednesday, with expectations for no change in interest rates.

  • However, Bank of America said the meeting will be “one of the most critical events for the Fed in some time.”
  • Chairman Jerome Powell and his fellow policymakers will have to convince investors that the current policy is correct and won’t change in response to a brighter economic outlook and major progress in the Covid-19 fight.

resurgent economy, percolating inflation and a stock market ripping higher don’t seem to make much of a recipe for easy monetary policy.

But that’s the position in which the Federal Reserve finds itself.

The challenge for the central bank this week will be to explain that position to investors and assure them that even if the status quo remains, that won’t provoke policymakers to change course, nor should they.

“The basic line is, ‘Everything looks a little better, but there’s still a lot of uncertainty and we’re not going to do anything soon

Joe Biden’s DHS Chief Says He Is Opening New Doors for Migrants

Breitbart: President Joe Biden’s border chief announced his plans Tuesday to expand economic migration into the United States, on top of the roughly one million people per year set by Congress.

“For years, the asylum system has been badly in need of reengineering,” said the March 16 statement by DHS secretary Alejandro Mayorkas. He continued:

In addition to improving the process by which unaccompanied children are placed with family or sponsors, we will be issuing a new regulation shortly and taking other measures to implement the long-needed systemic reforms.  We will shorten from years to months the time it takes to adjudicate an asylum claim while ensuring procedural safeguards and enhancing access to counsel.

Alejandro Mayorkas could bring stability to DHS after years of interim leadership - CNNPolitics

Mayorkas is a lawyer and also a strong supporter of the unpopular claim the United States is a “Nation of Immigrants,” not of Americans. So he can argue his immigration expansion plans complies with the nation’s complex and loopholed immigration law, major parts of which have been written by agency regulators and pro-migration judges. Mayorkas wrote:

We are keeping our borders secure, enforcing our laws, and staying true to our values and principles …

I came to this country as an infant, brought by parents who understood the hope and promise of America.  Today, young children are arriving at our border with that same hope.  We can do this.

Read More

Rebel priests defy Vatican, vow to bless same-sex couples

Thompson Reuters: A dissident band of Roman Catholic priests leading a disobedience campaign against the Vatican said on Tuesday they would carry on blessing same-sex couples in defiance of Church orders.

 “For this reason God gave them up to vile passions. For even their [i]women exchanged the natural use for what is against nature. 27 Likewise also the [j]men, leaving the natural use of the woman, burned in their lust for one another, men with men committing what is shameful, and receiving in themselves the penalty of their error which was due.” Romas 1:26-27

The Vatican said on Monday that priests cannot bless same-sex unions and that such blessings are not valid, in a ruling that disappointed gay Catholics who had hoped their Church was becoming more welcoming under Pope Francis.

In some countries, parishes and ministers have begun blessing same-sex unions in lieu of marriage, and there have been calls for bishops to institutionalise de facto such blessings. Conservatives in the 1.3 billion-member Roman Catholic Church have expressed alarm over such practices.

“We members of the Parish Priests Initiative are deeply appalled by the new Roman decree that seeks to prohibit the blessing of same-sex loving couples. This is a relapse into times that we had hoped to have overcome with Pope Francis,” the Austrian-based group said in a statement.

“We will — in solidarity with so many — not reject any loving couple in the future who ask to celebrate God’s blessing, which they experience every day, also in a worship service.”

Schueller High Resolution Stock Photography and Images - Alamy

The Parish Priests Initiative led by Father Helmut Schueller has long been a thorn in the side of the Vatican. The group wants Church rules changed so that priests can marry and women can become priests.

It has said it will break Church rules by giving communion to Protestants and divorced Catholics who remarry. Read More

Kosovo delivers on promise to open embassy in Jerusalem

JNS: Kosovo opened its embassy to Israel in Jerusalem on Sunday, joining the United States and Guatemala as the only countries with embassies in a city whose status is at the heart of the Israeli-Palestinian conflict.

Then he shall confirm a covenant with many for one week;
But in the middle of the week
He shall bring an end to sacrifice and offering …” Daniel 9:27

Muslim-majority Kosovo promised to locate its embassy in Jerusalem when it established diplomatic ties with Israel last year under US sponsorship.

Kosovo’s Foreign Ministry said on Twitter that with the embassy’s opening, “the pledge given in the Oval Office today is finally fulfilled.”

Israel sees its new ties with Kosovo as part of its broader normalization with Arab and Muslim countries under agreements sponsored by former U.S. President Donald Trump. Read More

“It’s Over”: As Far As Wall Street Is Concerned, COVID Is History

Zero Hedge: At the end of January, when looking at the plunge in covid cases, deaths and hospitalizations we asked a question: “Is it almost over?”

We got the answer today, when BofA published its latest Fund Manager Survey (which as is the tradition every month, polled some 220 panelists with $630bn in AUM). The title said it all.

Of course, the social impact of the covid pandemic is far from over and in fact, now that the AstraZeneca/Oxford vaccine is on the ropes, it appears that Europe (for various political and monetary reasons) may be relapsing and get yet another round of lockdowns soon. But at least as far as markets are concerned, Covid is officially yesterday’s news and is no longer the biggest bogeyman on Wall Street.

Indeed, as the March BofA fund manager survey (which was taken between March 5 and 11) reveals, COVID-19 is no longer the #1 “tail risk” for the first time since Feb’20… Read more

‘Blood clots’: Major European nations suspend COVID-19 vaccine

WND: Amid reports of dangerous blood clots in some recepients, Germany, France, Italy and Spain became the latest nations to suspend use of AstraZeneca’s COVID-19 vaccine.

The company and European regulators insist the vaccine is not to blame, the Associated Press reported.

AstraZeneca argues there have been 37 reports of blood clots out of more than 17 million people vaccinated in the European Union and Britain.

However, 54,571 adverse events have been reported in Europe in association with the AstraZeneca vaccine, including at least 198 deaths. Read More

ARCHAEOLOGICAL FIND IN JUDEA: BIBLICAL PARCHMENT OF PROPHETS FROM BAR-KOKHBA ERA

Israel 365: Dozens of fragments of a biblical scroll from the Bar Kokhba period, a 6,000-year-old skeleton of a child, and the oldest complete basket in the world were found by the Israel Antiquities Authority (IAA) in the Judean Desert Nature Reserve. This marks the first time in approximately 60 years that archaeological excavations uncovered fragments of a biblical scroll.

VERSES FROM ZECHARIAH ON PARCHMENT

The scroll, which was written in Greek, includes portions of the Book of the Twelve Minor Prophets, including the books of Zechariah and Nahum. The IAA operation was aimed at preventing the looting of antiquities in the Judean Desert.

Verses from Zechariah written in Greek were discovered on dozens of parchment fragments found in a cave where Jewish refugees hid almost 1900 years ago.

VERSES FROM ZECHARIAH ON PARCHMENT

The scroll, which was written in Greek, includes portions of the Book of the Twelve Minor Prophets, including the books of Zechariah and Nahum. The IAA operation was aimed at preventing the looting of antiquities in the Judean Desert.

Verses from Zechariah written in Greek were discovered on dozens of parchment fragments found in a cave where Jewish refugees hid almost 1900 years ago.

These are the things you are to do: Speak the truth to one another, render true and perfect justice in your gates. Zechariah 8:16 (The Israel BibleTM)

6,000-YEAR-OLD MUMMIFIED YOUNG GIRL

In addition to the scroll fragments, the operation uncovered additional extraordinary finds from various periods: a cache of rare coins from the days of Bar-Kokhba, a 6,000-year-old skeleton of a child – likely female, wrapped in a cloth and mummified, and a large complete basket dating back 10,500 years, likely the oldest in the world.

Read More

California Proposes School Worship Chants From Bloody, Human-sacrificing Religion

The New American: Five hundred years ago, Aztec priests would cut victims’ still-beating hearts from their chests, then toss their lifeless bodies down the steps of a temple that was flanked by towers made entirely of human skulls. Now educators in California, further cutting the heart from our culture, think that worship chants from those priests’ religion should be taught in government schools.

It’s the latest example of how our thought police, who take pains to cancel Dr. Seuss and amorous cartoon skunks, apparently have some odd priorities. As the New York Post reports:

The California Department of Education has proposed an ethnic studies “model curriculum” that includes, among other things, chanting the names of Aztec gods in an attempt to build unity among schoolchildren.

 “But whoever causes one of these little ones who believe in Me to sin, it would be better for him if a millstone were hung around his neck, and he were drowned in the depth of the sea.” Matthew 18:6

Included in the draft curriculum is a list of “lesson resources” with a chant based on “In Lak Ech,” which it describes as “love, unity, mutual respect,” and “Panche Be,” which it describes as “seeking the roots of truth.”

The chant starts with a declaration that “you are my other me” and “if I do harm to you, I do harm to myself.” Before chanting the name of the Aztec god Tezkatlipoka, the text reads: “Seeking the roots of the truth, seeking the truth of the roots, elders and us youth, (youth), critical thinking through.”

It adds: “Tezkatlipoka, Tezkatlipoka, x2 smoking mirror, self-reflection Tezkatlipoka.”Tezcatlipoca - World History Encyclopedia

Tezkatlipoka is the name of an Aztec god that was honored with human sacrifice.

In Aztec mythology, Tezkatlipoka is the brother of Quetzalcoatl, Huizilopochtli and Xipe Totec — all of whom appear to be invoked in the proposed chant.

Quetzalcoatl, do note, was a feathered serpent “god” in whose name much blood was shed.

So I guess California leftists really do believe in the separation of church and state — literally. But separation of pagan temple (or mosque) and state is a different matter. Read More

COVID-19 no longer top market risk for the first time since February 2020 – BofA fund manager survey

Forex Live:

  • ‘Long tech’ still the most crowded trade, followed by Bitcoin
  • 15% of investors think US equities are in a bubble
  • 25% say it is an early-stage bull market, 55% say late-stage bull market
  • ~43% of investors think 2% 10-year US yields could cause equities correction
  • Cash levels up to 4.0% (still low) from 3.8% before
  • Allocation to commodities at all-time high
Some interesting insights as to how market sentiment is developing. The low cash levels continue to highlight that investors are still preferring to find places to put their money where possible, with some potentially positioning for a ‘commodities supercycle’.
Other than that, the shift in the top market risk also reaffirms how little emphasis is put on the virus impact and how market participants are now focusing more towards the outlook and economic reopenings more than anything else. Read More