EU Fryer Many countries announced: Import ban extended! Fed loses $730 billion

Yun Shang Hui Xin Limited



A shocking scene occurred at an altitude of 10,000 meters.

On September 16, Reference News quoted Taiwan's "Central News Agency" as reporting that a United Airlines passenger plane bound for Rome, Italy, encountered a cabin pressurization problem after takeoff. The captain quickly lowered the flight altitude and made an emergency return. Within 8 minutes, the aircraft Descended 8534 meters. A spokesman for the Federal Aviation Administration said there were 270 passengers and 14 crew members on the Boeing 777 aircraft at the time.

In addition, the sudden exposure of "major differences" in the EU has attracted attention. On September 15, local time, the European Commission announced its decision to lift the import ban on Ukrainian agricultural products. In response, Hungary, Poland, and Slovakia clearly expressed their opposition and stated that they would continue to ban the import of Ukrainian-related agricultural products.

Currently, the Federal Reserve, which is raising interest rates violently, is facing huge pressure to lose money. Data released by the Federal Reserve recently showed that its losses exceeded the US$100 billion mark (approximately RMB 730 billion), and the losses may expand further before the deficit ends. Analysts predict that by 2025, Fed losses will peak at around $200 billion.

Sudden descent of 8,500 meters, emergency return

On September 16, Reference News quoted Taiwan's "Central News Agency" as reporting that a United Airlines passenger plane flying from New Jersey, USA to Rome, Italy, showed signs of cabin pressure loss less than an hour after taking off on the evening of the 13th. The captain quickly responded It lowered its flight altitude and made an emergency return, descending 8,534 meters in 8 minutes.

According to data from the US flight tracking website, the flight altitude of this Boeing 777 passenger plane plummeted from 11,277 meters to below 2,743 meters in just 8 minutes.

According to the training received by pilots, in the event of cabin depressurization, the flight altitude must be urgently lowered to a low enough level to ensure that the people on board can breathe smoothly without the need for oxygen masks.

A spokesman for the Federal Aviation Administration said that at the time, the Boeing 777 aircraft was flying to Rome's Fiumicino Airport with 270 passengers and 14 crew members on board. Due to cabin pressurization issues, the plane returned to Newark Liberty International Airport in the early morning of the 14th.

The spokesperson further stated that an investigation into the incident has been launched to determine the specific cause of the accident and possible influencing factors. In addition, they also stated that they will pay close attention to the progress of the investigation and promptly report the latest situation to the public.

United Airlines said it will fully cooperate with the Federal Aviation Administration's investigation and provide necessary help and support to affected passengers. At the same time, comprehensive inspections and maintenance of aircraft will be strengthened to ensure the safety of passengers and crew.

It is reported that this aircraft with registration number N786UA started its first flight in 1997 and is 26 years old.

This is not the first accident of this model. In 2021, a Boeing 777 engine fan blade fell off, causing the engine to catch fire in the air. The aircraft made an emergency return and landed safely, with no casualties.

The EU "frypot"

The ban on Ukrainian agricultural products has completely "exploded" within the EU.

According to CCTV News, on September 15, local time, the European Commission stated that the EU’s restrictions on the free trade of four Ukrainian agricultural products (wheat, corn, rapeseed and sunflower seeds) in five European countries have expired, and the European Commission decided to lift the restrictions. Import ban on Ukrainian agricultural products.

Regarding the European Commission's decision, only Bulgaria among the five European countries agreed. Hungary, Poland, and Slovakia clearly expressed their opposition on the 15th, saying that they would continue to ban the import of Ukrainian-related agricultural products; Romania expressed regret that the European Commission did not extend the import ban on Ukrainian agricultural products.

Among them, Slovak Agriculture and Rural Development Minister Joseph Bireš announced that the Slovak government will unilaterally extend the import ban on Ukrainian agricultural products until the end of this year.

Hungarian Agriculture Minister Nagy István also announced that Hungary will respond within its national capabilities in order to protect the interests of its farmers. Hungary has expanded the ban on imports of Ukrainian agricultural products to 24 types.

In addition, Polish Prime Minister Morawiecki said that Poland will still extend the import ban on Ukrainian agricultural products, and doing so is in the interests of Polish farmers.

The European Commission previously announced that it would restrict the free trade of Ukrainian agricultural products in five countries: Bulgaria, Hungary, Poland, Romania and Slovakia, which will be effective until June 5. Afterwards, the European Commission issued a statement extending the restrictions until September 15.

It is not difficult to find from the map of Eastern Europe that Ukrainian grain is exported by land, and several major crossing points are in Hungary, Poland, Slovakia, Romania and other countries.

Since the expiration of the Black Sea Grain Export Agreement, Ukraine’s grain exports have become more dependent on land transportation. This means that once Hungary, Poland, and Slovakia unilaterally extend the ban, Ukrainian grain exports will suffer a major blow.

In fact, Hungary, Poland, and Slovakia have no choice but to extend their bans. Since the EU abolished tariffs and quotas on Ukrainian grain imports in 2022, a large amount of Ukrainian grain that was supposed to be shipped to third country markets has been stranded in Central European countries, causing the price of local grain to drop sharply and even triggering protests by local farmers, demanding that the government Compensation for falling food prices.

YSHX

The Federal Reserve suffered a huge loss of 730 billion

Data released by the Federal Reserve recently showed that its losses exceeded the US$100 billion mark (approximately RMB 730 billion), and the losses may expand further before the deficit ends.

After a series of violent and aggressive interest rate hikes, the Fed now pays more in interest than it earns from bond interest and financial services. Experts predict that the trend, which began a year ago, could double its losses.

William English, a former Federal Reserve employee who now works at Yale University, predicts that losses will peak at about $200 billion by 2025. In addition, Derek Tang of the forecasting company LHMeyer predicted that by next year, the Fed's losses will reach 150 billion to 200 billion US dollars.

According to the Federal Reserve’s second quarter quarterly report, the loss in the first half of this year was US$57.3 billion (approximately RMB 420 billion).

The report shows that as of June 30, the Fed held approximately $5.5 trillion in U.S. Treasury bonds with an average yield of 1.96%, and held $2.6 trillion in mortgage-backed securities with an average yield of 2.20%. Meanwhile, the average interest rate the Fed pays on funds it holds, including repurchase agreements and other operations, averages around 5%.

In the first half of the year, the Fed reported interest income of $88.4 billion, but paid $141.8 billion in interest payments, resulting in massive losses.

It is worth mentioning that the Federal Reserve, like many commercial banks, has considerable unrealized losses. If all the bonds held by the Federal Reserve are calculated according to market value, the loss on paper exceeds 1 trillion US dollars.

According to the Federal Reserve's charter, the Fed turns over its profits to the U.S. Treasury, which helps pay off the huge federal budget deficit. When the Fed continues to lose money, the Treasury Department also loses its "payday."YSHX