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SVB Failure rattles Wall St. and the broader economy

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Global Intel Hub -- 3/10/2023 - NY, NY -- Last week Silicon Valley Bank or "SVB" was a leading tech-centric bank that focused on startups, private equity, and cutting edge businesses.  Suddenly, seemingly out of no where, solvency rumors spread until they hit the press.  Within days, the bank collapsed.  Let's take a look at some of the Friday night fall-out:

Bankrupt Crypto lender BlockFi has more than $200 Million at SVB, according to Bloomberg:

Bankrupt crypto lender BlockFi has about $227 million in an account maintained by failed lender Silicon Valley Bank, the Justice Department said in a court filing.

The funds are parked in a money market mutual fund, which isn’t insured by the Federal Deposit Insurance Corp., according to a March 10 filing, from an arm of the DOJ that monitors bankruptcy 

If your company uses Rippling to process payments, your workers are probably not getting paid:

Here's a long line of deposits, courtesy of Zero Hedge research department (great job guys!) --

  • USDC - Crypto Stablecoin run by Circle - Silicon Valley Bank is one of six banking partners Circle uses for managing the ~25% portion of USDC reserves held in cash. While we await clarity on how the FDIC receivership of SVB will impact its depositors, Circle & USDC continue to operate normally.
  • ROKU - Roku had 26% of its cash, $487 million with Silicon Valley Bank
  • BLOCKFI - BlockFi has $227 million in "unprotected" funds in Silicon Valley Bank, according to a bankruptcy document, and may be in violation of U.S. bankruptcy law.
  • RBLX - Roblox said 5% of its $3b cash and securities balance is held at SVB.
  • DNA - Gingko Bioworks: Only the cash balance of the company's wholly-owned subsidiary Zymergen Inc. is held in deposit accounts at SVB, representing approximately $74M or 6% of the company's cash and cash equivalents as of December 31, 2022
  • RKLB - RocketLab USA had about $38 million in its accounts with the bank, representing about 7.9% of the startup’s cash and equivalents
  • LC - Lending Club warned about potentially losing funds on deposit at SVB of $21 million, said amount isn't material to its liquidity position or capital levels, and doesn't pose a risk to the group's business or operations.
  • PAYO - Payoneer: Of the company's approximately $6.4B in total cash balances as of December 31, 2022, less than $20M is held at SVB
  • PTGX - Protagonist Therapeutics considers its exposure to any liquidity concern at SVB to be limited, given that cash held at SVB is approximately $13 million as of March 9, 2023.
  • ACHR - Archer Aviation entered into a $20 million loan with SVB in 2021, $10 million of which is due for repayment in 2023
  • COHU - Cohu announced that it has deposit accounts with SVB with an aggregate balance of approximately $12.3M, which is approximately 3.8% of the company's total cash and investments.
  • IGMS - IMG Biosciences: 'As of March 10, 2023, the Company holds less than $5.0 million in deposits at SVB. Therefore, the Company believes it does not have any material exposure to any liquidity concerns at SVB.'
  • RYTM - Rhythm Pharmaceuticals announced that it has deposit accounts with SVB with an aggregate balance of approximately $3.4 million, which is approximately 1.1% of the Company's total cash and cash equivalents.'
  • SYRS - Syros Pharmaceuticals discloses that, as of March 10, 2023, it has two deposit accounts at Silicon Valley Bank. One of these accounts has a balance of less than $250,000, and the other has a balance of approximately $3.1 million pursuant to a letter of credit that the Company was required to provide to its landlord in connection with the execution of the lease for its corporate headquarters...
  • EYPT - EyePoint Pharmaceuticals currently maintains a de minimis amount of cash, in the single digit millions of U.S. dollars, with Silicon Valley Bank (SIVB)
  • ATRA - Atara Biotherapeutics currently maintains an account at Silicon Valley Bank (“SVB") holding cash deposits of approximately $2 million, which amount the Company considers to be immaterial to its liquidity.'
  • ISEE - Iveric Bio currently maintains a de minimis amount of cash and cash equivalents, in the low single digit millions of U.S. dollars, with Silicon Valley Bank ("SVe").'
  • VERA - Vera Therapeutics currently holds approximately 1.2% of its cash and investments with SVB. Accordingly, the Company considers its risk exposure relating to SVB to be minimal.
  • XFOR - X4 Pharmaceuticals had approximately 2.5% of its cash deposits with SVB.
  • CTMX - CytomX Therapeutics does not consider its exposure to any liquidity concern at SVB to be significant. The cash held at SVB in CytomX’s operating CTMX account is at or near the FDIC-insured limit of $250,000. CytomX also
  • maintains a deposit account at SVB under a standby letter of credit issued pursuant to its office lease for approximately $917,000.'
  • AXSM - Axsome Therapeutics has material cash deposits with SVB.
  • WVE - Wave Life Sciences aggregate amount of the company's cash and restricted cash held at SVB is approximately $1.5M.
  • JNPR - Juniper Networks maintains operating accounts at SVB with a minimal cash balance of less than 1% of the company's total cash
  • QS - QuantumScape has very limited exposure to SVB, with only a low single digit percentage exposure relative to both the Company's total liquidity and total assets.

In 'unrelated' news, Wells Fargo is experiencing a 'technical issue' causing 'missing deposits' -

A "technical issue" was causing some Wells Fargo customers to see missing deposits in their accounts, the bank said Friday.

In response to complains on Twitter, Wells Fargo representatives said that the issue may be leading customers to see incorrect balances or missing transactions but that their accounts "continue to be secure." Wells Fargo said in a statement on Friday afternoon that it was aware that some customers’ direct deposit transactions "are not showing on their accounts."

.. and of course, the CEO sold $3.5 Million in stock in the weeks prior to the bank's collapse:

CEO Allegedly Sold $3.5 Million in Stock in Last Two Weeks

$42 Billion was withdrawn 'within hours' -

For those who slept through yesterday, here is what you missed and why the US banking system is suffering its worst crisis since 2020. Silicon Valley Bank, aka SIVB, the 18th largest bank in the US with $212 billion in assets of which $120 billion are securities (of which most or $57.7BN are Held to Maturity (HTM) Mortgage Backed Securities and another $10.5BN are CMO, while $26BN are Available for Sale, more on that later )...

... funded by over $173 billion in deposits (of which $151.5 billion are uninsured), has long been viewed as the bank at the heart of the US startup industry due to its singular focus on venture-capital firms. In many ways it echoes the issues we saw at Silvergate, which banked crypto firms almost exclusively.

It seems as the real pandemic is a financial one, with knock-on ripple effects quickly reverberating around the world.

Stay tuned on Zero Hedge for a fair and balanced, objective reporting of the facts.

If you want to trade the chaos in the markets - try Futures & Currencies @ Currency-Central.com Inc.

W&T Offshore: A Solid Buy For Energy Exposure

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Summary

  • WTI has a lot of room to move up, given the recent demand for Oil.
  • Consumers are shifting to purchase from the US and US companies.
  • The Market Cap of WTI is less than 1 Billion USD, making this a steal.

W&T Offshore (NYSE:WTI) is not well known like the larger Oil companies, and that's where part of the value lies. Based in Houston, TX W&T Offshore has interests in 43 active Oil fields, and has 606,000 gross acres under lease for the purposes of Oil & Gas exploration and extraction. Their focus is on their backyard, i.e. the Gulf of Mexico on the shelf and Deepwater. Before getting into more details, let's take a look at the basics, to use this as a baseline for a value comparison.

Read the whole article at https://seekingalpha.com/article/4563553-w-and-t-offshore-a-solid-buy-for-energy-exposure

Devon Energy: A Good Global Macro Buy

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The energy bull market is probably obvious to everyone, but going long oil is not the only way to play this market. Devon Energy (NYSE:DVN) owns and operates more than 5,100 wells, and has been doing this since 1971.

With 1600 employees, Devon is like a smaller version of the Mega Cap Oil companies, so it's a good alternative to companies like Exxon Mobil (XOM) and others in my view. They have grown through acquisition as well as organically, so their business is now at a point where they can kick back and watch the oil flow.

Read the whole article @ https://seekingalpha.com/article/4562481-devon-energy-a-good-global-macro-buy

Tennessee Real Estate holding up in dumpy market

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LoveTNLife.com 11/22/2022 -- With the Fed raising rates and a market that was too hot even for a game of hot potato, many assets have eased back in parallel with the sell of in global equities.  But real estate is a dynamic complex market.  Just as in equities, you have some assets holding up well better than others.  Hot markets like Las Vegas, Los Angeles, South Florida and others are obviously pulling back more than others.  Tennessee stands out as an interesting market, listings prices are holding steady.  The number of listings increased from February until July and then has held steady.  The sold to list ratio is dropping, and homes are staying on the market longer - so TN is not unaffected by the market.  However, compared to other markets, pricing is holding up strong, with only a slight downtick in the Listings Prices, according to Knoxville Area Association of REALTORS.

See the data:

 

 

Summary Statistics
Oct-22 Oct-21 % Chg 2022 YTD 2021 YTD % Chg
Absorption Rate 2.17 1.53 41.83 1.57 1.32 18.94
Average List Price $557,460 $454,126 22.75 $439,111 $361,428 21.49
Median List Price $403,000 $309,900 30.04 $339,000 $279,900 21.11
Average Sale Price $395,632 $352,168 12.34 $386,648 $328,360 17.75
Median Sale Price $315,000 $285,000 10.53 $320,000 $270,000 18.52
Average ADOM 31 21 47.62 22 25 -12.00
Median ADOM 14 0 N/A 5 5 0.00

Listings

Sold Listings
This Month Year to Date
2022 2021 % Chg 2022 2021 % Chg
0-99,999 59 89 -33.7 693 1003 -30.9
100,000-149,999 86 158 -45.6 968 1618 -40.2
150,000-199,999 158 264 -40.2 1844 2984 -38.2
200,000-249,999 207 288 -28.1 2321 3067 -24.3
250,000-299,999 254 336 -24.4 2576 2785 -7.5
300,000-349,999 186 228 -18.4 2262 2082 8.6
350,000-399,999 159 183 -13.1 1813 1657 9.4
400,000-449,999 115 131 -12.2 1291 1106 16.7
450,000-499,999 81 93 -12.9 993 821 21.0
500,000-549,999 53 78 -32.1 730 565 29.2
550,000-599,999 52 54 -3.7 697 421 65.6
600,000-649,999 41 40 2.5 496 352 40.9
650,000-699,999 50 40 25.0 437 258 69.4
700,000-749,999 22 34 -35.3 284 177 60.5
750,000-799,999 24 15 60.0 249 150 66.0
800,000-849,999 19 16 18.8 168 116 44.8
850,000-899,999 19 15 26.7 151 101 49.5
900,000-949,999 10 10 0.0 114 76 50.0
950,000-999,999 4 10 -60.0 101 79 27.8
1,000,000-1,099,999 10 11 -9.1 96 68 41.2
1,100,000-1,199,999 10 9 11.1 120 64 87.5
1,200,000-1,299,999 8 11 -27.3 95 69 37.7
1,300,000-1,399,999 8 4 100.0 58 47 23.4
1,400,000-1,499,999 5 4 25.0 45 35 28.6
1,500,000-1,599,999 7 2 250.0 39 24 62.5
1,600,000-1,699,999 1 2 -50.0 21 17 23.5
1,700,000-1,799,999 2 3 -33.3 19 19 0.0
1,800,000-1,899,999 1 1 0.0 16 8 100.0
1,900,000-1,999,999 2 0 N/A 19 8 137.5
2,000,000-2,249,999 2 1 100.0 27 19 42.1
2,250,000-2,499,999 2 2 0.0 11 11 0.0
2,500,000-2,749,999 0 0 0.0 5 8 -37.5
2,750,000-2,999,999 0 0 0.0 6 6 0.0
3,000,000-3,249,999 1 1 0.0 4 3 33.3
3,250,000-3,499,999 0 0 0.0 2 1 100.0
3,500,000-3,749,999 0 0 0.0 0 0 0.0
3,750,000-3,999,999 1 0 N/A 3 1 200.0
4,000,000-4,249,999 0 0 0.0 1 0 N/A
4,250,000-4,499,999 0 0 0.0 1 0 N/A
4,500,000-4,749,999 0 0 0.0 1 1 0.0
4,750,000-4,999,999 0 0 0.0 0 0 0.0
5,000,000+ 1 1 0.0 4 4 0.0
Totals 1660 2134 -22.2 18781 19831 -5.3
Pending Listings
This Month Year to Date
2022 2021 % Chg 2022 2021 % Chg
0-99,999 47 71 -33.8 682 941 -27.5
100,000-149,999 79 131 -39.7 942 1721 -45.3
150,000-199,999 171 295 -42.0 1988 3265 -39.1
200,000-249,999 200 315 -36.5 2322 3050 -23.9
250,000-299,999 236 320 -26.2 2747 3083 -10.9
300,000-349,999 188 217 -13.4 2162 2031 6.5
350,000-399,999 148 193 -23.3 1928 1767 9.1
400,000-449,999 77 130 -40.8 1098 1067 2.9
450,000-499,999 74 138 -46.4 1022 1007 1.5
500,000-549,999 61 60 1.7 680 563 20.8
550,000-599,999 51 83 -38.6 730 534 36.7
600,000-649,999 38 37 2.7 420 290 44.8
650,000-699,999 38 50 -24.0 484 338 43.2
700,000-749,999 18 20 -10.0 251 188 33.5
750,000-799,999 20 21 -4.8 271 188 44.1
800,000-849,999 11 15 -26.7 143 109 31.2
850,000-899,999 17 20 -15.0 184 150 22.7
900,000-949,999 10 5 100.0 75 58 29.3
950,000-999,999 12 16 -25.0 131 106 23.6
1,000,000-1,099,999 7 2 250.0 57 52 9.6
1,100,000-1,199,999 11 10 10.0 120 90 33.3
1,200,000-1,299,999 13 5 160.0 116 86 34.9
1,300,000-1,399,999 10 3 233.3 72 42 71.4
1,400,000-1,499,999 4 4 0.0 51 41 24.4
1,500,000-1,599,999 2 2 0.0 38 38 0.0
1,600,000-1,699,999 4 5 -20.0 27 18 50.0
1,700,000-1,799,999 0 2 -100.0 24 21 14.3
1,800,000-1,899,999 0 1 -100.0 19 6 216.7
1,900,000-1,999,999 3 2 50.0 17 16 6.3
2,000,000-2,249,999 1 1 0.0 25 11 127.3
2,250,000-2,499,999 1 2 -50.0 19 24 -20.8
2,500,000-2,749,999 0 0 0.0 11 7 57.1
2,750,000-2,999,999 3 0 N/A 12 13 -7.7
3,000,000-3,249,999 0 0 0.0 3 1 200.0
3,250,000-3,499,999 0 1 -100.0 4 4 0.0
3,500,000-3,749,999 1 0 N/A 1 1 0.0
3,750,000-3,999,999 1 0 N/A 4 0 N/A
4,000,000-4,249,999 1 0 N/A 2 0 N/A
4,250,000-4,499,999 0 0 0.0 0 1 -100.0
4,500,000-4,749,999 0 0 0.0 1 1 0.0
4,750,000-4,999,999 0 0 0.0 1 1 0.0
5,000,000+ 2 0 N/A 6 4 50.0
Totals 1560 2177 -28.3 18890 20934 -9.8
Active Listings
This Month Year to Date
2022 2021 % Chg 2022 2021 % Chg
0-99,999 119 195 -39.0 937 1322 -29.1
100,000-149,999 163 245 -33.5 1266 2138 -40.8
150,000-199,999 288 368 -21.7 2505 3869 -35.3
200,000-249,999 321 312 2.9 2916 3546 -17.8
250,000-299,999 468 349 34.1 3490 3621 -3.6
300,000-349,999 361 238 51.7 2759 2399 15.0
350,000-399,999 376 223 68.6 2558 2138 19.6
400,000-449,999 241 137 75.9 1514 1303 16.2
450,000-499,999 279 146 91.1 1503 1256 19.7
500,000-549,999 169 97 74.2 975 730 33.6
550,000-599,999 219 122 79.5 1078 723 49.1
600,000-649,999 147 49 200.0 634 379 67.3
650,000-699,999 182 96 89.6 793 469 69.1
700,000-749,999 94 30 213.3 412 253 62.8
750,000-799,999 134 50 168.0 486 275 76.7
800,000-849,999 49 34 44.1 221 163 35.6
850,000-899,999 91 35 160.0 343 221 55.2
900,000-949,999 43 18 138.9 150 86 74.4
950,000-999,999 76 39 94.9 251 184 36.4
1,000,000-1,099,999 30 15 100.0 108 79 36.7
1,100,000-1,199,999 60 27 122.2 216 134 61.2
1,200,000-1,299,999 65 32 103.1 234 141 66.0
1,300,000-1,399,999 44 18 144.4 144 68 111.8
1,400,000-1,499,999 40 20 100.0 126 69 82.6
1,500,000-1,599,999 24 14 71.4 87 62 40.3
1,600,000-1,699,999 19 14 35.7 69 34 102.9
1,700,000-1,799,999 16 6 166.7 48 36 33.3
1,800,000-1,899,999 15 6 150.0 44 15 193.3
1,900,000-1,999,999 15 6 150.0 45 28 60.7
2,000,000-2,249,999 10 7 42.9 49 20 145.0
2,250,000-2,499,999 12 15 -20.0 48 44 9.1
2,500,000-2,749,999 10 3 233.3 28 13 115.4
2,750,000-2,999,999 14 10 40.0 36 27 33.3
3,000,000-3,249,999 1 1 0.0 5 5 0.0
3,250,000-3,499,999 3 2 50.0 11 7 57.1
3,500,000-3,749,999 4 1 300.0 6 2 200.0
3,750,000-3,999,999 4 2 100.0 10 3 233.3
4,000,000-4,249,999 3 0 N/A 4 0 N/A
4,250,000-4,499,999 4 0 N/A 4 2 100.0
4,500,000-4,749,999 0 2 -100.0 3 3 0.0
4,750,000-4,999,999 1 2 -50.0 3 5 -40.0
5,000,000+ 13 8 62.5 25 16 56.3
Totals 4227 2994 41.2 26144 25888 1.0
New Listings
This Month Year to Date
2022 2021 % Chg 2022 2021 % Chg
0-99,999 55 92 -40.2 760 1069 -28.9
100,000-149,999 87 137 -36.5 1110 1870 -40.6
150,000-199,999 195 276 -29.3 2280 3508 -35.0
200,000-249,999 236 292 -19.2 2712 3276 -17.2
250,000-299,999 263 307 -14.3 3260 3336 -2.3
300,000-349,999 231 205 12.7 2581 2200 17.3
350,000-399,999 209 182 14.8 2411 1927 25.1
400,000-449,999 114 127 -10.2 1407 1191 18.1
450,000-499,999 122 131 -6.9 1388 1137 22.1
500,000-549,999 83 69 20.3 893 648 37.8
550,000-599,999 61 84 -27.4 1001 639 56.7
600,000-649,999 41 43 -4.7 590 338 74.6
650,000-699,999 48 44 9.1 724 423 71.2
700,000-749,999 29 19 52.6 385 223 72.6
750,000-799,999 37 29 27.6 454 246 84.6
800,000-849,999 14 10 40.0 206 141 46.1
850,000-899,999 31 17 82.4 312 192 62.5
900,000-949,999 8 4 100.0 135 73 84.9
950,000-999,999 18 29 -37.9 225 157 43.3
1,000,000-1,099,999 7 5 40.0 98 64 53.1
1,100,000-1,199,999 13 12 8.3 195 110 77.3
1,200,000-1,299,999 19 10 90.0 204 117 74.4
1,300,000-1,399,999 11 2 450.0 124 55 125.5
1,400,000-1,499,999 8 4 100.0 116 56 107.1
1,500,000-1,599,999 6 4 50.0 70 45 55.6
1,600,000-1,699,999 4 2 100.0 62 29 113.8
1,700,000-1,799,999 0 3 -100.0 43 31 38.7
1,800,000-1,899,999 2 4 -50.0 40 14 185.7
1,900,000-1,999,999 5 2 150.0 38 17 123.5
2,000,000-2,249,999 5 2 150.0 41 15 173.3
2,250,000-2,499,999 4 1 300.0 37 32 15.6
2,500,000-2,749,999 0 0 0.0 26 7 271.4
2,750,000-2,999,999 3 2 50.0 26 24 8.3
3,000,000-3,249,999 1 0 N/A 4 3 33.3
3,250,000-3,499,999 0 0 0.0 7 5 40.0
3,500,000-3,749,999 2 0 N/A 6 1 500.0
3,750,000-3,999,999 1 0 N/A 7 2 250.0
4,000,000-4,249,999 0 0 0.0 4 0 N/A
4,250,000-4,499,999 0 0 0.0 4 1 300.0
4,500,000-4,749,999 0 1 -100.0 2 2 0.0
4,750,000-4,999,999 1 0 N/A 1 2 -50.0
5,000,000+ 1 2 -50.0 15 11 36.4
Totals 1975 2153 -8.3 24004 23237 3.3

 

Information is deemed to be reliable, but is not guaranteed. © 2022 Knoxville Area Association of REALTORS and FBS. Prepared by LoveTNLife on Tuesday, November 22, 2022 9:57 AM.

Clearly, every market is different.  Zero Hedge reported as early as August 2022 that prices in Boise Idaho had dropped:

 

 "They priced too high because their neighbor's home sold for an exorbitant price a few months ago, and expected to receive multiple offers the first weekend because they heard stories about that happening." 

As the winds in the pandemic boomtown shifted this summer, she advised sellers to "price their home correctly" to market conditions and understand things are slowing. 

The common denominator in all of these cities is that an influx of demand during the early days of the pandemic sent home prices quite literally 'through the roof' because city-dwellers figured out they could remote work to low-cost areas. 

Now the boom is ending in the frothiest of markets because the Federal Reserve's most aggressive interest rate hikes in years to quell the highest inflation in four decades has sent mortgage rates north of 5% in such a short period, sparking what we've been warning about for months of an emerging affordability crisis. 

The good thing about real estate, you can't manufacture it.  Regardless of how much money the Fed prints, land is land.  Fed policy affects interest rates which impacts mortgages so real estate is no simple hedge, but it is a physical asset that has limited supply.

Whatever the factors, whether it's demographics, the pandemic driving people to red states (so called "Red Shift") or other factors - there clearly are some states still seeing net positive inflows (other states include Florida, Texas, North Carolina, and South Carolina).

Checkout Crediblock.com Second Sight markets analysis service.

For more insights on Real Estate and Tennessee, checkout Love TN Life. 

How the Elite create fake tests to control society with manufactured results – LabCorp

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Everything is a scam!  Today is the day of the 'most safe election in US history' the fact-checkers say. So it's an appropriate day to update the facts on the largest testing scam in the world, that of the LabCorp (LH) fake paternity tests scam. If you question the mainstream narrative being shoved down your throat, you get fired, banned, blocked, isolated - but how?  Where is the 'evidence' you say?  How can 'they' possibly do that to the masses?  Let's have a look at the cloak and dagger craftwork of the Elite, for all to bare.

Here's a copy of the Amended complaint:

Verified First Amended Complaint_ FILED 11 8 2022

What's shocking is a new discovery about the testing process.

For Paternity and DNA tests, 32 markers are examined and compared to the subject for a 'match' - but not in this test!

LabCorp and Maha (who created and operated the tests for LabCorp) collected all 32 markers but only used the 20 markers that sort of 'matched' what they wanted it to!

In trading we call that 'cherry picking' and it's very illegal.

When you are giving money to a PM or trader, you want to see their track record, perhaps for a few years.  Imagine if they showed you only the winners and not the losses - that would be misleading.  It does happen, but in the trading world it's more obvious and those cherry picking scammers are easily caught (because the reality is, they can't trade as good as their fake track record says).

Cherry Picking results is sort of like "Manufacturing Results" because it's not a test at all, just like polls are not polls, and our leaders are selected, not elected (cough cough).

This is all about one thing.  There is no war Ukraine vs. Russia, or NATO vs. Russia - only the Haves vs. the Have Nots.

Do you see Hunter Biden going to Ukraine to fight with Putin's kids?  Both sides are gaining wealth and power.

That's what these fake Paternity tests do, it's a means for the haves to control the have nots.

When a test says a result - how can you argue with 'the science' - right?

Well, in this case, as is proven in the complaint (which includes scientific expert analysis and testimony), this isn't a paternity test at all, it's really a big trick, a magic trick, an illusion, but not so Dramatic like David Copperfield (but he would be impressed).   From the complaint:

DEFENDANTS “MIX-AND-MATCH” EVIDENCE SCHEME
Unlike a paternity test which tests 20 markers and reports all 20 results , defendants secretly test
"32" markers and then simply select “matches” until they get to 16 "matches."
Defendants LabCorp and Maha use the standard “13 " markers for the first 13 tests.
Then something bizarre happens. Defendants cycle through the rest of the 19 markers to get to
the results , and cherry pick the results they want.
So, using 32 markers but only reporting 20, technically there could be 16 mismatches and one
could still be the biological father .
The 16 "best" matches are sorted by value and the top 16 are reported. The remaining 16
mismatches are concealed.

These fake tests affect the lives of millions of people, and will likely soon affect LabCorp stock.  Not only that, LabCorp also offers PCR tests for COVID - tests were running the fear porn narrative, causing people to get Vaxxinated.   Ticker symbol is LH, open an account at LevelX to trade it.

Or to put it another way, imagine that we were paid millions of dollars to prove to you that you are the father of a child, and the mother is a woman who you have never met. Our team assembles the brightest minds in the world, and we create a 'testing' regime that proves false negatives.  In other words, the tests can output any result that we want, due to 'science' - all we need is the method (which costs millions) and a dupe with credentials (Maha) to sign off on it.  That's what they have done here, and although it's sinister, unethical on so many levels, and probably unholy - the design of the fraud is brilliant.  Because 99.99% of users of these tests could not dig far enough into the science, past all the 'authority' of the courts, how the establishment mocks people who do not submit to it, the unquestioning Dogmas.  Court is right, not because of evidence, but because LabCorp said so.  That's the most unscientific process you can imagine - science is all about questioning things, and asking questions, and replicating results (ironically, these test results cannot be replicated).

See a previous article on the topic, Fake Tests not in the Fake News.  and .. 

Massive Multi-Industry Fraud involving Paternity Testing, MLM and LabCorp (NYSE:LH) EXPOSED

Leaked: Cenntro Auto CENN disrupting the EV market with Hydrogen 8 Truck

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Global Intel Hub has obtained a sneak peek at an upcoming product launch that can change the EV market forever.  This EV Class 8 truck is where all others have failed, if Cenntro can succeed here it will be a huge win for the company and a bump for the stock price.

The Electric Vehicle (EV) market has been one of the most contentious production markets in the world.  While many companies like Rivian have been making presentations and creating hype, Cenntro has been building EVs, more than 3,600 to date.  In fact, they are the only EV company out there that has a full suite of 6 models, and all have been certified class 1 to class 4 – and are in production (being delivered).  This is a huge advantage over their competitors, as many EVs have a long wait list.

EV company Nikola reached $34 Billion valuation based on the promise of building a Hydrogen truck:

Nikola’s stock skyrocketed on the back of excitement around green technology and electric vehicles. Hopeful individuals saw Milton’s big ambitions to revolutionize trucking with zero-emissions vehicles and thought they were getting in on the ground floor of the next Tesla. …  But things quickly unraveled as it came to light that Nikola exaggerated progress developing its technology.

Investors buying into CENN now are getting in before the world knows they are selling a Hydrogen Class 8 Truck, basically what others have failed to do (or just lied about doing it).  It’s no secret this is the most Elite EV class on the market, German auto parts maker Bosch is investing $200m in the technology – but it’s going to be live in 2026!

With its other vehicle models, Cenntro has the track record to perform, in this case build, ship, and sell.  This is the edge that Cenntro has, the plans and ability to roll out a Hydrogen Class 8 Truck.

Their vehicles have 20 Million miles travelled, which is the proof their supply chain and manufacturing process works.  They have strong sales teams in North America and Europe, and are engaging in ramping and growth – they have proven that the manufacturing capability is there.  The company has 238+ Patents Granted, 6+ Assembly plants, and is growing by leaps and bounds.

Their iChassis technology has iPhone-like functions that allow ‘apps’ to be installed, similar to how you would on a consumer phone, for different autonomous driving applications.

CENN stock is currently trading way below book value, and is close to break even on an operating basis – and looks like it will be profitable next year.

Our sources have sent us a sneak peek at the Hydrogen 8 Class Truck:

There is a rumor that Cenntro has been able to achieve technology that others in the business have failed to master, that of the Hydrogen Class 8 Truck (shown above).

But it's not only that, Cenntro is a leader in the design technology, based on their iChassis system.

The iChassis is a ‘technology platform’ in which you can plug n play your own designs, see this example:

COVID has only increased demand for EVs, making Cenntro poised to capitalize on the trend even more.  See the market statistics from Fortune Business Insights:

When many people think of the EV market, they think about climate change.  The Oil and Gas industry, they say, is polluting the environment.  That very well may be – but what they are not considering is sustainability.

The EV grid is growing at a rapid pace in the US.  An EV can be charged from your home using Solar panels, in an off-grid situation.  You can charge your EV with any form of electricity.

Imagine you have no gas deliveries for a long time, or there are fuel shortages.  This is not science fiction – it’s happening in the US and Europe.  Without gasoline, you can run your EV.  In other words, part of the value of the EV is not about ‘climate change’ but also ‘sustainability’ – it is possible to buy solar powered charging stations for your EV (this is optional) and you could be driving around while others are stuck.  People from Florida who have been through a Hurricane know what this is like.

The climate is becoming more unstable by the month, and this further drives the push toward the EV market.  In this environment, Cenntro is a leading emerging manufacturer.

What’s clear is that CENN is a great value play, with a strong fundamental ground floor.  Investors should do their own research, but don’t let the market cap fool you.  Nikola’s $34 B market cap gave investors a false sense of stability, their truck was exposed to be just rolling down the hill, in a debunked product video, executives from Nikola have admitted.

So having a huge market cap and brand name recognition, do not necessarily indicate a companies ability to execute.  The play here is to buy in to a solid company with next generation Hydrogen Class 8 Truck technology in the pipeline, ready to release to the market.

These are all the bull arguments, investors should do their own research and come to their own conclusions.  As of right now, the stock is trading at 1.03 - for the record.

9:00 am @ 11/2/2022

by: Crediblock.com Second Sight – Markets Analysis Service (paid service).  For more great markets analysis, including further more detailed articles on the topic of the EV market, follow us @ Global Intel Hub

NOTES RESEARCH

Website https://www.cenntroauto.com/

https://ir.cenntroauto.com/search?query=presentation

https://www.freightwaves.com/news/bosch-investing-200m-to-make-hydrogen-fuel-cells-for-class-8-trucks

https://arstechnica.com/cars/2020/09/nikola-admits-prototype-was-rolling-downhill-in-promotional-video/

https://www.ttnews.com/articles/cenntro-unveils-two-new-electric-vehicles

https://theevreport.com/cenntro-receives-order-for-2000-metro-electric-commercial-vehicles

If paternity tests are fake, what else is fake?

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Global Intel Hub (Zero Hedge Exclusive!) -- Traders know very well that markets are rigged and publicly traded companies often manipulate products and numbers in such a way as to present a perceptive reality that doesn't exactly reflect actual reality.  Well, some companies like LabCorp (LH) have taken this to a new fangled art form.  In what appears to be a massive medical fraud, LabCorp provided 'positive' paternity tests to any mother who named a male in a document, court papers say. We have already covered this issue, however it is gaining little traction in the mainstream media (no surprise there, as they are paid to cover up fraud).  We are waiting for the 'fact checkers' to come explain us the Sky is in fact green, what we are seeing is an atmospheric condition caused by gas deposits in Alaska [ /sarc ].  From our article:

(Global Intel Hub) -- Charlotte, NC - 7/16/2021 -- In what may be one of the biggest testing frauds of the decade, LabCorp (LH) has been found to be offering fake paternity tests that will name any father written in the application form as the paternal father.  The first case has been filed in California, but will likely lead to many others.  In a world of fake news, where 99% of information proliferated in 'mass media' is disinformation, advertising, or psychological operations - it's not surprising that fake tests and not in the headlines.  However, when it breaks that LabCorp has been using fake / false paternity tests for family court cases (divorce, child custody and child support), families are going to be ripped apart.

This is not LabCorp's first such scheme, they appear to have an impeccable track record of scams and fraud.  Only recently, whistleblowers opened up a scam whereby doctors were getting illegal kickbacks:

Laboratory Corp. of America Holdings must face a whistleblower lawsuit alleging the company participated in a scheme to bill Medicare for blood drawing services tainted by kickbacks to doctors, a South Carolina federal court ruled.  Whistleblowers Scarlett Lutz and Kayla Webster allege LabCorp provided blood drawing services to doctors who were receiving illegal kickbacks from third-party laboratories Health Diagnostic Laboratory and Singulex Inc. in exchange for the blood test service referrals.  A reasonable fact finder could conclude that it was foreseeable to LabCorp that the two labs would present claims for Medicare reimbursement for thee tests, Judge Richard M. Gergel ...

Global Intel Hub has reached out to LabCorp executives for a comment, no response.  The question traders should be asking is how big is this fraud from an economic perspective.  We don't have access to precise data to calculate, but considering how big their paternity testing business is, it could be substantial.

Paternity tests are used in court cases which typically result in, you guessed it - forcing the named 'dad' to have to pay child support.  If you don't pay, you can go to JAIL - making this a modern form of Corporate Slavery.

See this:

Holding that LabCorp had a duty to perform accurate testing, the court reversed a grant of summary judgment for LabCorp and stated: The importance of reliable and accurate DNA test results cannot be overstated. This type of forensic evidence is becoming part of our jurisprudence, and this trend is not likely to end. Much stands in the balance of the lives of those relying on such test results to protect their legal rights in a court of law. Inaccurate results could deal a devastating blow to those who otherwise have no ability to prove their cases on their own. Without recourse against a negligent defendant, a plaintiff has no remedy. Berman stands in that position in her relationship with LabCorp. Inaccurate results proved fatal to her case in her DHS proceeding. She was forced to pursue further legal action at her own expense. Her risk was foreseeable, and LabCorp owed her a duty to prevent that risk of harm. Id. ¶ 18.

Read more at: https://www.nlrg.com/family-law-legal-research/bid/77840/TORTS-Negligence-Liability-of-DNA-Testing-Laboratory

And this.. 

Recently had a friend go through a motherless paternity test and it came back 99.9% as being included as the child’s father. However he has doubts about the test and how it they came about the results. When contacting the lab they refused to give him the type of test performed, chain of custody,... -Lab Corp Test Review

We can go on, but the research and public info speaks for itself, combined with a track record of fraud and deception - how could it be any worse?

See original article on the topic.

What's the trade here?  Short LH, or sell calls - up to you.  The stock price is not sustainable at these nose bleed levels when you factor in the liability.

Trade it @ LevelX

DOJ nabs $100m Crypto Ponzi EmpireX

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Global Intel Hub -- Charlotte, NC -- 9/9/2022-- It seems that fraud surrounding Crypto will never end.  The idea that a new electronic asset class is confusing to the masses attracts scammers like moths to bright lights.  The United States Department of Justice announced yesterday the guilty plea in a $100 Million ponzi scheme, purporting to be some kind of Crypto trading shop:

A Florida man pleaded guilty today to conspiracy to commit securities fraud in connection with a global cryptocurrency-based Ponzi scheme that took in approximately $100 million from investors.  According to court documents, Joshua David Nicholas, 28, of Stuart, was the “Head Trader” for EmpiresX, a purported cryptocurrency platform. Nicholas admitted that he and others fraudulently promoted EmpiresX by making numerous misrepresentations regarding, among other things, a purported proprietary trading bot and fraudulent “guaranteed” returns to investors and prospective investors in the company. Nicholas and his co-conspirators claimed that EmpiresX operated a trading bot that used artificial and human intelligence to maximize profitability for investors. Instead, EmpiresX operated a Ponzi scheme by paying earlier investors with money obtained from later EmpiresX investors. In addition, despite representations to the contrary, EmpiresX never registered, nor took steps to register, EmpiresX’s investment program as an offering and sale of securities with the U.S. Securities and Exchange Commission, nor did EmpiresX have a valid exemption from this registration requirement.  Nicholas pleaded guilty to one count of conspiracy to commit securities fraud and faces a maximum penalty of five years in prison. A sentencing date has not yet been scheduled. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

Ponzi schemes are bad for markets, and for those who aren't professionals it's often hard to tell the difference between a scammer and the real deal.  Of course, the scammers have the advantage, because they can advertise 10% per month rates of return, with 'no losses' because, it is, a scam.  There are no doubt tons of other scams out there right now, but how to tell if an investment is real?  Here's a few signs that what you are looking at is a scam (these are red flags, failing any of these is not evidence that it's a scam):

  • The individuals or entity involved is not registered with authorities (even the hedge funds are all SEC exempt advisors or exempt pools)
  • High rates of return, with virtually no losses
  • Limited access to evidence
  • Promises of 'guaranteed' returns
  • Sounds 'too good to be true'
  • Often, scams are accompanied by stories, dramatic stories about the founder
  • High referral / affiliate payouts
  • Aggressive sales tactics
  • Flashy websites with no disclaimers
  • No physical presence in the US (IP is at a cafe in Vietnam, for example)

The US is a bit of a closed system, it's virtually impossible in today's day and age to run a scam inside the US and not get caught.  Everything is recorded.  So for this reason some would be scammers would operate from places where there is not such a surveillance state, i.e. Vietnam, Indonesia, or perhaps South America.

Stay safe out there -

DT Unicorn Fund - Invest in Private Companies like Varo Money, Kraken, Calm, and others.

Global Intel Hub - Alternative news about financial markets, global macro analysis, and intel data points.

Job crisis or labor crisis? The market is changing

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Crediblock.com -- Charlotte, NC -- Companies are throwing up now hiring signs like hands at a bank robbery.  In April of 2021 at a Tampa McDonalds they were paying people $50 just to interview:

A McDonald's in Tampa, Florida, offers $50 to show up for a job interview. Even with free money plastered in big, bold black letters on its menu sign, facing a busy roadway, there are reportedly still no takers. 

Business Insider spoke with Blake Casper, the franchisee who owns the fast-food restaurant in Tampa, who said the idea to hand out free money is an attempt to secure workers. He said he would do "whatever it takes to hire workers." "At this point, if we can't keep our drive-thrus moving, then I'll pay $50 for an interview," said Casper, who owns 60 McDonald's restaurants across the Tampa-St. Petersburg Metropolitan Area. 

Since then, there is a war in Ukraine and the stock market has crashed, among other factors.  But employers are still saying there is a shortage of workers.  But the issue is more of quality.  Inflation is first and foremost the rise of price, but the second part of inflation that's more toxic and subtle is deterioration of quality.  You pay the same amount of money for less product quality or less quantity.  Small side note, I have a friend who worked for Frito Lay and told me about their system of slowly filling bags with more air and less chips over time.  This is what's happening with the jobs market.  Big companies are paying salaries like $200k/yr and ditching drug testing (they won't openly admit this, but they are allowing in office / while working marijuana use).

The bottom line is that inflation is eating away the job market like in a Quentin Tarantino zombie film.  The trick is to find reasonable work that is comfortable where workers provide value.  That may not include a job at Starbucks or AutoZone.  It may be remote work, it may not.

Crediblock.com launched our Jobs portal last year @ jobs.crediblock.com and it's been a great success for us internally.  We're now offering it out to the market if it can be valuable for both employers and candidates. If you are looking for extra money for part time hire as a programmer, writer, consultant, designer, or other remote work, sign up to the Crediblock.com Jobs Portal free here. If you are just looking for some passive extra money here and there, checkout this Get Paid page at ubuy.me.

It's hard to say if there is really a jobs crisis or a labor crisis, but what does appear to be happening is a deterioration of quality.  Some companies have real problems such as Travelocity, where hold times for customer support can be in the multiple hours.  NFP (Non Farm Payroll) data released last week was positive but not meaningful enough to conclude deeper meaning about the changing job market.

The world may be shifting towards a gig economy rather than you tenured employee focused on retirement.  The jobs market is rapidly evolving just like other markets - what worked even 3 years ago is no longer working today.  COVID was the beginning of a major overhaul of how we work, how we recruit and look for work, and how we balance our work/life.  Crediblock.com develops apps for financial markets.  We are hiring!  Checkout the jobs here.

Do you have something to contribute?  Checkout the Jobs section of the Forum.

Here are some other resources

We recently compiled a list of the best job boards to find niche talent, which includes a section specifically for online job boards specializing in internships and co-ops:

  • Internships.com - Internships.com hosts a job board full of internship and employment opportunities.
  • InternJobs.com - Intern Jobs is a job board focused on finding both recent graduates and seasoned workers looking for new opportunities.
  • LookSharp.com - LookSharp (formerly known as InternMatch) is the largest database of college internships online.
  • College Recruiter - College Recruiter is the leading niche job board for college and university students searching for internships, part-time employment or seasonal work.
  • Career Rookie - Career Rookie is a database of internships, part-time jobs and entry-level careers.
  • YouTern - YouTern is a community dedicated to helping thousands of college students and recent graduates to ascend into the workplace with internships.

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