From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.
Latest News From December 30, 2016 to January 5, 2017:
- 10 Ways That Donald Trump Could Try To Reverse The Curse That Obama Has Put On America
When Barack Obama betrayed Israel at the United Nations, that put a curse on our nation. But that doesn’t mean that we have to stay cursed. In the coming days, the new Trump administration should immediately start taking steps to reverse the curse that we are under as a result of what Obama has done. Perhaps if Donald Trump takes strong enough steps to try to undo what Obama has done, instead of being cursed we can once again return to being blessed. One thing that Trump will not be able to undo is UN Security Council Resolution 2334. It would take another UN Security Council resolution to undo it, and the votes simply wouldn’t be there. UN Security Council Resolution 2334 passed by a vote of 14 to zero with the U.S. abstaining. And even if Trump could miraculously pull together enough votes, one of the other permanent members of the Security Council (Russia, China, the UK or France) could just veto it. So it looks like we are stuck with UN Security Council Resolution 2334, but that doesn’t mean that Trump can’t do anything to try to address this matter.
- House Passes Bill To Undo Months Of Obama Regulations With Just One Vote
The House of Representatives passed legislation on Wednesday giving Congress the power to kill so-called “midnight rules”, months of recently enacted Obama administration regulations with just one vote, as Republicans charged ahead on their campaign to strip down federal regulations. If passed by the Senate and signed by President-elect Donald Trump, the legislation would amend the Congressional Review Act to allow lawmakers to bundle together multiple rules and overturn them en masse with a joint resolution of disapproval. The White House has already threatened to veto the bill if it were to make it to President Obama's desk before he leaves office. “Because outgoing administrations are no longer accountable to the voters, they are much more prone to issue midnight regulations that fly in the face of the electoral mandate the voters just gave the new, incoming administration,” said House Judiciary Committee Chairman Bob Goodlatte before the vote. “Waves of midnight rules can also be very hard for Congress or a new administration to check adequately.”
- Global Debt Hits 325% Of World GDP, Rises To Record $217 Trillion
While we eagerly await the next installment of the McKinsey study on global releveraging, we noticed that in the latest report from the Institute for International Finance released on Wednesday, total debt as of Q3 2016 once again rose sharply, increasing by $11 trillion in the first 9 months of the year, hitting a new all time high of $217 trillion. As a result, late in 2016, global debt levels are now roughly 325% of the world's gross domestic product. In terms of composition, emerging market debt rose substantially, as government bond and syndicated loan issuance in 2016 grew to almost three times its 2015 level. And, as has traditionally been the case, China accounted for the lion's share of the new debt, providing $710 million of the total $855 billion in new issuance during the year, the IIF reported. Joining other prominent warnings, the IIF warned that higher borrowing costs in the wake of the U.S. presidential election and other stresses, including “an environment of subdued growth and still-weak corporate profitability, a stronger (U.S. dollar), rising sovereign bond yields, higher hedging costs, and deterioration in corporate creditworthiness” presented challenges for borrowers.
- Donald Trump Was Born Exactly 700 Days Before Israel Became A Nation
Do you want to see something amazing? If you go to any of the major search engines and ask when Donald Trump was born, you will be told that it happened on June 14th, 1946. And then if you go to any of the major search engines and ask when Israel became a nation, you will be told that it happened on May 14th, 1948. If you take both of those dates and plug them into the handy calculator provided by timeanddate.com, you will discover that Donald Trump was born exactly 700 days before Israel became a nation. I was first alerted to this incredible fact by Daily Crow. Here are some other incredible numbers that link Trump and Israel from that same source… -Israel was 77 days old exactly 777 days after Donald Trump was born. -Israel’s 70th birthday will come exactly 700 days after Trump’s 70th birthday. -Donald Trump won the election on Israeli Prime Minister Benjamin Netanyahu’s 7th year, 7th month and 7th day in office. On top of everything else, Donald Trump will be 70 years, 7 months and 7 days old on his first full day in the White House.
- Three ridiculous ways Congress plans to Keep America Safe Again
It’s amazing that this is what passes as Defense policy… THIS is how they plan on spending hundreds of billions of dollars to keep you safe– sending useless reports to their central bureaucracy. Then, of course, there’s section 1287, my personal favorite. Section 1287 requires that, within 180 days of the bill being signed to law, a new agency called the Global Engagement Center will be created under the State Department. The Global Engagement Center’s job is to combat FAKE NEWS around the world, with sweeping powers to train and fund legions of journalists and bloggers to inundate the world with US propaganda. Politicians have been praising the idea for the Global Engagement Center as a landmark new tool to keep Americans safe. This is totally bogus; the US government has had propaganda and psychological warfare resources for decades.
- Ford to scrap Mexico plant, invest in Michigan; CEO cites Trump policies
Before he's even taken office, President-elect Donald Trump has proven to be quite the job creator. Ford Motor Company announced Tuesday it will cancel a $1.6 billion plant planned for Mexico and will instead invest $700 million in a Michigan assembly plant, directly tying the decision to “pro-growth policies” championed by President-elect Donald Trump. Trump had previously been critical of Ford’s plans to build in Mexico. After the announcement, Trump tweeted a link to a story about the Ford decision and then added in a subsequent message: “Instead of driving jobs and wealth away, AMERICA will become the world's great magnet for INNOVATION & JOB CREATION.”
- Scotland set to pilot universal basic income scheme in Fife and Glasgow
A councillor has backed the introduction of a universal basic income in Scotland because he says it is the best way to tackle poverty. A radical scheme to give every citizen a universal basic income (UBI), regardless of whether or not they work, is set to be piloted by two Scottish councils this year. Labour-run Glasgow and Fife councils are designing trial schemes following meetings held late last year. It has not yet been announced what level the basic income will be set at, but the councils are to proceed with the pilots, subject to sufficient funding being secured.
- 47% of Jobs Will Disappear in the next 25 Years, According to Oxford University
The Trump campaign ran on bringing jobs back to American shores, although mechanization has been the biggest reason for manufacturing jobs’ disappearance. Similar losses have led to populist movements in several other countries. But instead of a pro-job growth future, economists across the board predict further losses as AI, robotics, and other technologies continue to be ushered in. What is up for debate is how quickly this is likely to occur. Now, an expert at the Wharton School of Business at the University of Pennsylvania is ringing the alarm bells. According to Art Bilger, venture capitalist and board member at the business school, all the developed nations on earth will see job loss rates of up to 47% within the next 25 years, according to a recent Oxford study. “No government is prepared,” The Economist reports. These include blue and white collar jobs. So far, the loss has been restricted to the blue collar variety, particularly in manufacturing.
- Is the 2nd Half of 2017 when Sears Finally Kicks the Bucket?
Sears Holding Corp., which owns the Sears and Kmart stores and is run by hedge-fund manager Eddie Lampert, who is also its largest shareholder, pulled off another little trick when it announced today that it had lined up $200 million “to fund its operations,” but not cash, which is what Sears needs more than anything, given the rate at which it is burning it, but a Secured Standby Letter of Credit, which may be expanded to $500 million, “with the consent of the lenders.” This announcement gives some clues that after many years of disappointment, Sears doom-and-gloomers might finally approach the end of their long wait.
- The Death Of The U.S. Petrodollar, and What Comes After
In the following interview, Turd Ferguson of TF Metals Report interviews the one and only Dr. Jim Willie, in what is undoubtedly one of the best Dr. Willie interviews I’ve ever heard. The article that follows the interview is also from TF Metals Report, and it’s written by Grant Williams, who is a Singapore-based hedge fund manager. First, the interview covers three main areas of discussion. First, Ferguson and Dr. Willie review the generally accepted narrative that has been coming from the mainstream media more or less since Donald Trump won the election. We keep hearing how bonds are selling off, which is sending interest rates higher, and making the stronger Dollar. There’s nothing to worry about, and the Dow will be at 25,000 in no time, right?
- America’s Economy Before Versus After Obama
Something that is happening with increasing regularity across today's mainstream media, is that regardless of what subject matter is being discussed, and despite the need today more than ever before for Americans to have access to accurate information that could prove vital for the safety and well-being of their families, almost without exception the information the mainstream media is providing as “real news,” is almost always woefully incomplete, or lacking any information that resembles news with an ounce of journalistic integrity. He who controls information, controls absolutely, and “The Powers That Be” have made sure that we the people do not have access to real information. Instead, what the mainstream media calls “real news,” is little more than sound bites and propaganda intended to keep the masses distracted and pacified.
- A great story from when America was still the Land of Opportunity
Last week during a long overdue vacation, a close friend of mine recommended reading the autobiography of Rich DeVos called Simply Rich. DeVos is a billionaire entrepreneur who started countless ventures during his nine decades on this earth. Back in the 1946, for example, DeVos started an airline… virtually overnight. He just bought an airplane and started flying people around. No rules. No regulations. They didn’t even have an airport. The local airfield north of Grand Rapids, Michigan, where they were based, hadn’t been completed yet. As DeVos recounts in his book, “We put pontoon floats on our plane and took off and landed on the Grand River, which ran along the airfield.” His first office at the airfield was an old chicken coop that he found, washed in the river, and re-painted. The following year he and his partner opened up one of Michigan’s first “Drive Through” restaurants at the airfield, catering to passengers, workers, flight students, and spectators who came by in the evenings just to marvel at the planes.
- A Terrifying Warning That The West Is Now Approaching The ‘Brick Wall’
As we kickoff the first week of trading in January, today the man who has become legendary for his predictions on QE, historic moves in currencies, warned King World News that the West is now approaching the “brick wall.” West Rapidly Approaching The “Brick Wall” Egon von Greyerz: “On the first day of the new year it would be totally natural to forecast what the likely events and trends will be for the coming year. A lot of experts around the world will predict a number of ‘new’ events as if a lot of things will change just because we are entering a new year…
- 2017 SHOCKER – Banks Near All-Time Record Long Positions In Major Market, Plus A Look At Gold
As we get ready to head into 2017, banks now have near all-time record long positions in a major market, plus a look at gold. The following charts are from SentimenTrader. Commercial Long Positions Near All-Time Record! The commercials have continued to dramatically increase their long positions in the U.S. 10-Year Treasury market to near all-time record levels.
- The Almighty Dollar and the Currencies that Crushed it in 2016
Much of the strength of the dollar in 2016 has been ascribed to rising interest rates in the US and minuscule tightening by the Fed – or rather “removing accommodation,” as it likes to say – even as other central banks still engage in QE and negative interest rate absurdities. So the US became a destination for the hot money. By December 20, the dollar reached the highest point since December 2002 against the basket of currencies in the Dollar Index, though it has since eased off somewhat since then. But the Dollar Index contains only six currencies: euro, yen, pound sterling, Canadian dollar, Swedish krona, and Swiss franc. It doesn’t even include the currencies of two of the four largest US trading partners, Mexico and China. So how has a broader range of currencies fared against the dollar? Turns out, some soared, others plunged.
- US Government Attacks Drudge Report? Conservative Website Down Because Of Distributed Denial Of Service Attack, Matt Drudge Tweets
A tweet from conservative media icon Matt Drudge's verified Twitter account Thursday night appeared to accuse the government of interfering with his website, DrudgeReport.com, just hours after the Barack Obama administration announced new sanctions against Russia over election hacking. “Is the US government attacking DRUDGE REPORT? Biggest DDoS since site's inception. VERY suspicious routing [and timing],” the tweet to Drudge's 457,000 followers read. There were no other tweets from the account at the time. A large-scale distributed denial of service attack, or DDoS, can cause major Internet disruptions. In the past, such attacks have shut down major websites such as Twitter, Spotify, Netflix, Amazon, Tumblr, and Reddit. The attack sends a server many illegitimate requests to make it hard for real requests to get through, effectively shutting down the site.
- Bitcoin Surges Above $1,000 As China Unveils New Capital Controls
As noted yesterday, for the first time in three years, and only the second time in history, bitcoin rose above $1,000 in Yuan-denominated Chinese trading, however it was limited to the lower side of this “round number” psychological barrier in US trading, as BTC flirted with $999.99 for most of the day on the popular Coinbase exchange, without crossing it. Overnight, however, Chinese demand proved too great and US markets had no choice but to arb the difference. So with Bitcoin trading in China at an implied price of over $1,050 at this moment, bitcoin finally soared above $1,000 in the US as well, trading just around $1,024 on Coinbase as of this moment.
- China tightens control of personal forex purchases
China has tightened checks on citizens exchanging foreign currency in anticipation of renewed downward pressure on the renminbi in the new year. Banks have been asked to improve standards for verifying customers’ identities and to report “large or questionable transactions”, the State Administration of Foreign Exchange (Safe) said in a public statement at the weekend. “There have been leaks in China’s system of personal foreign exchange purchases,” the statement said, giving as an example the way individuals and companies avoid capital controls on overseas investments by disguising their transactions as goods purchases.
- China’s Credit Engine Is Running Out of Gas
The People’s Bank of China faces a reckoning after revving its credit engine for years. Three conditions suggest traditional financing and shadow banking are due to cool: Restrictions on property markets are poised to start weighing on mortgage issuance; bond market turbulence has spurred widespread cancellation of new corporate issues; and banks face more curbs on selling wealth-management products amid a regulatory tightening. With economic expansion on pace to meet the government’s objective and inflation pressure rising, leaders are signaling tighter monetary policy as they seek to reduce risks. The PBOC also cut language from its last quarterly statement saying it would reduce lending costs.
- Deutsche Bank chairman rules out European merger – Frankfurter Allgemeine
Deutsche Bank (DBKGn.DE) Chairman Paul Achleitner has ruled out a European merger or a state bailout after the lender's mortgage settlement with the U.S. Department of Justice, Frankfurter Allgemeine Sonntagszeitung reported. The bank, Germany's biggest, last week announced a $7.2 billion (5.83 billion pound) settlement with the U.S. Department of Justice over its sale and pooling of mortgage securities in the run-up to the 2008 financial crisis. “The management board in principle looks at everything that could help the business,” Achleitner said in an interview with the weekly newspaper published on Sunday.
- The New World Order Has Collapsed – Predictions for 2017
The beauty of our current situation lies in the sheer unpredictability of it all. A lot of long-term plots and schemes got derailed this past year, and even one of the great architects of the project, Zbigniew Brzezinski, has declared the New World Order agenda obsolete. The Globalists went for too much, too soon, and inadvertently triggered a worldwide populist uprising. Heading into 2017, there are very few safe bets. Certain trends are evident, and a few projections can be made. Barring a wave of suicides and single-car accidents, a tsunami of tell-all books about the Hillary Clinton campaign should hit the shelves by spring. Every excruciating detail of working for a brain-damaged alcoholic closet lesbian psychopath will be revealed. Her vicious temper and open contempt for her staff will become the stuff of political legend. By November, it’ll be hard to find anyone willing to admit that they voted for her. I doubt that we’ll ever get to the bottom of the Podesta Pizzagate emails. Whatever he’s referring to, it sure as hell isn’t pizza. Maybe drugs, but it doesn’t sound like it. I wouldn’t want to be in close proximity to John Podesta. He looks unlucky to me.
- U.S. Special Operations Numbers Surge In Africa's Shadow Wars
AFRICA HAS SEEN the most dramatic growth in the deployment of America’s elite troops of any region of the globe over the past decade, according to newly released numbers. In 2006, just 1% of commandos sent overseas were deployed in the U.S. Africa Command area of operations. In 2016, 17.26% of all U.S. Special Operations forces — Navy SEALs and Green Berets among them — deployed abroad were sent to Africa, according to data supplied to The Intercept by U.S. Special Operations Command. That total ranks second only to the Greater Middle East where the U.S. is waging war against enemies in Afghanistan, Iraq, Syria, and Yemen. “In Africa, we are not the kinetic solution,” Brigadier General Donald Bolduc, the chief of U.S. Special Operations Command Africa, told African Defense, a U.S. trade publication, early this fall. “We are not at war in Africa — but our African partners certainly are.”
- Get Ready for Passport “Globalization”
“The bottom line is that anyone can be ISIS. We therefore need an approach to securing civilized societies that doesn't allow individuals to hide behind the cloak of Western passports… The time has come for a “global passport,” a parallel digital certification of a person's identity, background, criminal record, travel history, and other details. The digital record would be regularly updated based on databases from airlines, customs agencies, banks and other sources, and could be managed by an independent international authority.” The quotation above comes from CNN, an American news network that has done such an exemplary job in recent years in serving as a mouthpiece for the US Government. The argument for global passports is a familiar one: “You are in danger of being killed by terrorists. We will save you by removing yet another of your freedoms.” Or, as Hermann Goering said, “The people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to danger. It works the same way in any country.”
- What Is The Obama Regime Up To? — Paul Craig Roberts
Obama has announced new sanctions on Russia based on unsubstantiated charges by the CIA that the Russian government influenced the outcome of the US presidential election with “malicious cyber-enabled activities.” The US Department of Homeland Security (DHS) has issued a report “related to the declaration of 35 Russian officials persona non grata for malicious cyber activity and harassment.” The report is a description of “tools and infrastructure used by Russian intelligence services to compromise and exploit networks and infrastructure associated with the recent U.S. election, as well as a range of U.S. government, political and private sector entities.” The report does not provide any evidence that the tools and infrastructure were used to influence the outcome of the US presidential election. The report is simply a description of what is said to be Russian capabilities.
- What is Henry Kissinger Up To? — Paul Craig Roberts
The English language Russian news agency, Sputnik, reports that former US Secretary of State Henry Kissinger is advising US president-elect Donald Trump how to “bring the United States and Russia closer together to offset China’s military buildup.” If we take this report at face value, it tells us that Kissinger, an old cold warrior, is working to use Trump’s commitment to better relations with Russia in order to separate Russia from its strategic alliance with China. China’s military buildup is a response to US provocations against China and US claims to the South China Sea as an area of US national interests. China does not intend to attack the US and certainly not Russia.
- Keiser Report: Outlook for 2017
We discuss the outlook for 2017: from Trump’s first 100 hours, not days to fake news and a market crash following the biggest rally since Hoover. In the second half Max is joined by Gerald Celente of trendsresearch.com to discuss the big trends of 2017: Rustbelt 2.0, economic disorder and ‘Sell, Buy China’.
- “Trumpflation” Will Have Big Ramifications For Gold In 2017
Something is brewing in the economy. Since the election of Donald Trump, interest rates have spiked, copper prices have surged, and various sectors of the stock market have swung bigly on speculation of what “Trumponomics” will bring. Scores of triumphant Republican commentators are already painting a bullish picture of the Trump economy. The GOP – which will control the White House, Congress, and most state governments – has a rare opportunity to implement a pro-growth agenda. Republicans squandered their last great window of opportunity. George W. Bush and his Congressional allies grew government spending at a faster clip than the economy and saddled the country with trillions of dollars in new debt.
- Will Gold & Silver Finally Bottom In 2017?
There has indeed been an ongoing cleansing in the precious metals market since the spike highs five years ago. Remember, there have been calls for a massive turnaround in prices for both gold and silver since 2013…2014…again, even more so in 2015. 2016 has just freshly passed, and both metals continue to flirt with their lows from a year ago. A few years ago, all the rage was for the man and woman on the street to be buying gold and silver coins, long lines, especially in China, forming for blocks to make purchases for the inevitable rally “sure” to soon follow. During that time, we mentioned that individuals, small traders, et al, rarely, if ever, get in at the bottom or get out at the top of market turns. Both gold and silver were much higher, a few years ago, but the moneychangers continue to prevail as the “cleansing process” is still ongoing, tiring out the masses who had been certain that gold and silver would soar to $5,000+ in gold, $200-$300 in silver.
- Barack Obama’s Legacy: War, Debt and Poverty
As 2016 winds down, so does Barack O’Bomber’s $80 million in paid vacations and his legacy of war, debt and poverty. It’s quite amazing how much one man can ruin a country while playing so much golf. WAR Just 12 days after being elected, Barack Obama was nominated for the Nobel Peace Prize. He accepted the prize in Oslo on December 10, 2009. It was assumed that he would shut down Guantanamo Bay and end the military occupations of Iraq and Afghanistan.
- Finland to pay unemployed basic income of $587 per month
Finland has become the first country in Europe to pay its unemployed citizens a basic monthly income, amounting to 560 euros ($587), in a social experiment hoped to cut government red tape, reduce poverty and boost employment. Olli Kangas from the Finnish government agency KELA said Monday that the two-year trial with the 2,000 randomly picked citizens who receive unemployment benefits kicked off Jan. 1. Those 2,000 unemployed chosen will receive 560 euros every month, with no reporting requirements on how they spend it. The amount will be deducted from any benefits they already receive. The unemployment rate of Finland, a nation of 5.5 million, stood at 8.1 percent in November with some 213,000 people without a job — unchanged from the previous year.
- European Commission Threatens Widespread Asset Confiscation
The “war on terror” continues… The US and the North Atlantic Terrorist Organization (NATO) attacked Libya and Syria and began transporting Muslims to Europe as a means of destabilization. They have also conducted numerous other false flag attacks, such as Charlie Hebdo, by which to further confuse and imprison the local population. The most recent was the so called “terror attack” which occurred several days before Christmas in Berlin, Germany. A truck was deliberately driven into a crowded market killing 12 people and leaving 48 injured. Now it reaches a logical conclusion with cash and gold being confiscated in the name of making people “safe”. There is always an ulterior motive which becomes clearly apparent after such “terror” events. It is no coincidence that in Europe, the European Commission just made a new capital control proposition.
- Obama Chaos Before Leaving Office, Obama Punishes Russia Hacking & Economic Warning
The Obama Administration basically stabbed Israel, its top U.S. Middle East ally, in the back by not stopping a UN resolution that makes the Western Wall occupied Palestinian territory. It also makes building Israeli settlements in the West Bank an international crime. This is all taking place less than thirty days before Trump’s inauguration. Is Obama creating as much chaos as possible before he leaves office? I say YES!!! On another front, President Obama has expelled 35 Russian officials from the U.S. because of allegations of Russian interference in the 2016 presidential election. The Russians say Obama is “paranoid” and denies the charge. Now, the Kremlin is vowing retaliation for expelling its diplomats and seizing Russian property in the U.S. Meanwhile, Russian President Vladimir Putin has negotiated a ceasefire in Syria without any involvement from the Obama Administration.
- 2017 Predictions on Trump, Gold, Silver, Housing, Stocks, Bonds & Antarctica-Clif High
Internet data mining expert Clif High says forget about the rumors and predictions of Donald Trump being blocked from taking office. High says Trump will be sworn in as the 45th President and explains, “I don’t have any data that says, hard stop, Trump is assassinated. I don’t have that . . . . I am willing to back my data with real money, an ounce of silver, and I have an ounce of silver, and I would be willing to bet the inauguration part goes through smoothly given the emotional data sets we have now.” High, who calls what he does “Predictive Linguistics,” mines the internet and collects billions of data points to produce forecasts of the future. On the financial markets, High simply says, “We’re screwed. . . . The equity markets in our data sets are highly manipulated. So, if you ask will there be a crash? I say there already is a crash. Everybody that is not part of the financial system at the top end is currently living in a depression, and the media does not acknowledge this.”
- Army’s brain: Russia’s ‘colossal’ supercomputer helps predict wars, defense minister says
A “colossally powerful” supercomputer installed at Russia’s military headquarters helps the country’s armed forces tackle emerging threats by analyzing previous conflicts, such as the Yugoslavian war and the like, Defense Minister Sergey Shoigu said. The supercomputer is a key part of the headquarters’ IT infrastructure and is so powerful that the military uses less than half of its capacity, Shoigu told Rossiya 24 TV channel, which filmed a documentary about Russia’s National Defense Management Center (NDMC). “It has open architecture – you can add or remove specific elements, build up, increase and expand its capacities, it has plenty of them,” the minister said. The center’s supercomputer was designed to predict the development of current or future wars by analyzing the current security environment and drawing conclusions from past conflicts. It not only stores data on all major wars and conflicts, but also helps predict upcoming ones, Shoigu explained.
- Germany Unveils “Cash Controls” Push: Ban Transactions Over €5,000, €500 Euro Note
It was just two days ago that Bloomberg implored officials to “bring on a cashless future” in an Op-Ed that calls notes and coins “dirty, dangerous, unwieldy, and expensive.” You probably never thought of your cash that way, but increasingly, authorities and the powers that be seem determined to lay the groundwork for the abolition of what Bloomberg calls “antiquated” physical money. We’ve documented the cash ban calls on a number of occasions including, most recently, those that emanated from DNB, Norway’s largest bank where executive Trond Bentestuen said that although “there is approximately 50 billion kroner in circulation, the Norges Bank can only account for 40 percent of its use.” That, Bentestuen figures, “means that 60 percent of money usage is outside of any control.” “We believe,” he continues, “that is due to under-the-table money and laundering.” DNB goes on to say that after identifying “many dangers and disadvantages” associated with cash, the bank has “concluded that it should be phased out.”
- Three Mini-Bubbles Are Bursting
The world has gotten so used to ultra-low interest rates that even economists and money managers seem to be shocked by what happens when rates start creeping back towards normal levels. Some of the mini-bubbles that formed in an essentially free-money environment are now starting to leak. Notably: US Housing – While the action in this sector is nothing like the raging mania of the 2000s, prices in many hot US markets are at all-time highs, while affordability is at or near an all-time low. And now rising mortgage rates are beginning to bite. US Auto Sales – Cars and trucks have been one of the economy’s bright spots for several years — which seems to have gotten everyone just a little too excited. Auto financing practices have lately begun to resemble those of the subprime mortgage bubble: Today’s average loan is for more money, lasts much longer, and is held by a much weaker credit than ever before. Now, with interest rates rising and pretty much every potential buyer already locked into a car mortgage, the bubble optimism is evaporating. China – That the world’s second largest economy — with a debt load that has quintupled in the past seven years — can be called a “mini-bubble” illustrates the size of the meta-bubble in which it has emerged.
- Trump’s Border Wall, Deportation Plans Face Pushback From GOP
Donald Trump’s pledges to deport undocumented immigrants and build a U.S.-Mexico border wall helped fuel Republicans’ surprising election victories, but they now face growing challenges from fellow party members. Three Republican senators are working with Democrats to shield about 750,000 young undocumented immigrants from deportation if Trump cancels a 2012 order from President Barack Obama that let them stay in the U.S.
- Brits Are Hoarding Cash Amid “Economic Uncertainties” As FTSE Hits Record High
Despite the FTSE 100 soaring to new record highs, Britons are holding onto their cash in a sign that they may be hunkering down in the face of economic uncertainties, according to the British Bankers Association. As Bloomberg reports, personal deposits grew an annual 4.8 percent in November, data compiled by the BBA show. They increased by 32.4 billion pounds ($39.7 billion) in the first 11 months of the year, outstripping the 19.8 billion-pound growth in the same period of 2015. But while the economy has held up well so far, most economists foresee a slowdown in 2017 as businesses seek more clarity on the nation’s future relationship with the world’s largest trading bloc.
- Mining 24 Hours a Day with Robots
Mining companies are rolling out autonomous trucks, drills, and trains, which will boost efficiency but also reduce the need for human employees. Each of these trucks is the size of a small two-story house. None has a driver or anyone else on board. Mining company Rio Tinto has 73 of these titans hauling iron ore 24 hours a day at four mines in Australia’s Mars-red northwest corner. At this one, known as West Angelas, the vehicles work alongside robotic rock drilling rigs. The company is also upgrading the locomotives that haul ore hundreds of miles to port—the upgrades will allow the trains to drive themselves, and be loaded and unloaded automatically. Rio Tinto intends its automated operations in Australia to preview a more efficient future for all of its mines—one that will also reduce the need for human miners. The rising capabilities and falling costs of robotics technology are allowing mining and oil companies to reimagine the dirty, dangerous business of getting resources out of the ground.
- Italy's Insolvent Monte Paschi To Issue €15 Billion In Debt
For a glimpse into just how insane modern finance and capital markets are, look no further than Italy's thrice insolvent (in three years) bank Monte Paschi, which after failing to finalize a private, is finalizing the terms of its nationalization with the Italian government: a rescue which will cost Italian taxpayers at least €6.6 billion, and likely more. The bailout, however, is not the punchline. What is, is that according to Reuters, Monte dei Paschi di Siena – which has yet to be bailed out, plans to issue no less than €15 billion of debt next year “to restore liquidity and boost investor confidence.” According to daily La Repubblica, Monte dei Paschi would issue the debt in the form of bonds and commercial paper. A third of that debt would have a short-term maturity date, while the rest would mature in three years, it added. The bank could not immediately be reached for comment.
- John McAfee on Russian hacking allegations: “If it looks like the Russians did it, then I can guarantee you it was not the Russians”
Following the release of an FBI report outlining Russia's alleged role in hacking the 2016 election, Larry King sat down to talk with tech pioneer John McAfee to discuss the current state of cybersecurity. McAfee is no stranger to cybersecurity. As the developer of the first commercial antivirus program, he has been a major player in the industry for the past 50 years. He is also the CEO of MGT Capital Investments, and an outspoken former presidential candidate for the Libertarian Party. Based on all of his experience, McAfee does not believe that Russians were behind the hacks on the Democratic National Committee (DNC), John Podesta's emails, and the Hillary Clinton presidential campaign. As he told RT, “if it looks like the Russians did it, then I can guarantee you it was not the Russians.”
- Republicans Consider Obamacare Repeal Without A Replacement Strategy
Republicans have spent a lot of time in recent weeks vowing to repeal Obamacare. But, it is quickly becoming apparent that, since precisely zero people expected the 2016 election cycle to end with Republican control of all three branches of government in Washington D.C., no viable alternative has been fully vetted and stands ready to replace the failed legislation. According to Bloomberg, the lack of a fully negotiated replacement option could result in Republicans repealing the bill on a piecemeal basis with a replacement to be implemented at a later date. While Trump has repeatedly called for expanding the use of Health Savings Accounts and allowing insurance companies to sale policies across state lines, none of those policies have been officially written into a bill at this point. And while dozens of Obamacare alternatives have been introduced in Congress over the years none of them have actually received enough support to get off the ground.
- Walking your children home from school and driving while caffeinated are now felony crimes in police state America
In Magnolia, Texas, it is now a felony crime to walk your own children home from school. Er, I mean the “government indoctrination center.” Seriously, parents can now be charged with serious crimes for merely meeting their children at the school and walking them home. “The principal has decided that no matter how close the student lives to the school, the student must either take the bus, or the parent must wait in a long car pickup line,” reports Fox 26 in Houston. “Try to walk your student off the campus and you could face criminal charges… Fox26 knows of 2 other parents who were just threatened with arrest.” This is yet more evidence that even in Texas, the government thinks it owns your children. Parental rights are being obliterated across the country at a breathtaking pace, including in California where the state can now mandate government injections of your children with aluminum, mercury and other toxic substances that cause autism and neurological disorders.
- 5 Pieces of News That Show Global Warming Still Isn't Happening The Way Leftists Say
As 2016 comes to a close, it's important to realize that the left's continuing hysteria over global warming still does not match reality. The current facts show that there are not rising temperatures at alarming levels and, if anything, the planet seems to be experiencing more of a cooling phase than a warming phase. Here are five pieces of news that show that global warming is not causing armageddon. 1. The National Oceanic and Atmospheric Administration's (NOAA) graphs showing accelerated increases in temperature appear to be fabricated. 2. The evidence points to record amounts of cold weather. 3. The polar bear population seems to be thriving. 4. There were 50 peer-reviewed scientific papers in 2016 that concluded there was not wide-scale global warming. 5. The weather trends don't indicate that anything severe is occurring.
- Europe Proposes Confiscating Gold In Crackdown On “Terrorist Financing”
Hot on the heels of China gold import restrictions, and India's demonetization and gold confiscations, The European Commission proposed tightening controls on cash and precious metals transfers from outside the EU under the guise of shutting down one route for funding of militant attacks on the continent, following the Berlin Christmas attack. China has already begun de facto gold import restrictions, and as Jayant Bhandari detailed previously, India is experiencing a continuation of new social engineering notifications, each sabotaging wealth-creation, confiscating people’s wealth, and tyrannizing those who refuse to be a part of the herd, in the process destroying the very backbone of the economy and civilization. There are clear signs that in a very convoluted way, possession of gold for investment purposes will be made illegal. Expect capital controls to follow.
- JP Morgan Gobbles up a Minimum of Over 31 Tons (Possibly up to 186 Tons!) of Physical Gold!
Back in August 2015, I noted that Goldman Sachs and HSBC had taken delivery of a huge tonnage of physical gold, probably purchased near the lows. Physical bars of gold are, by definition, a very long term investment in the yellow metal. At the time, the two banks were telling clients and others not to buy gold, even as they were loading up on it, themselves. Let’s fast forward… Starting in December 2015, JP Morgan began buying tremendous quantities of physical gold, as opposed to paper/electronic gold futures, forwards, ETF certificates etc. From December 1, 2015 to December 29, 2016, the big bank purchased and took physical delivery of over 31 metric tonnes worth of bars of the yellow metal for its house account at COMEX alone.
- Italy Urges Europe To Begin Censoring Free Speech On The Internet
First it was the US, then Germany blamed much of what is wrong in society on “fake news”, and not, say, a series of terrible decisions made by politicians. Now it is Italy's turn to call for an end to “fake news”, which in itself would not be troubling, however, the way Giovanni Pitruzzella, head of the Italian competition body, demands the European Union “cracks down” on what it would dub “fake news” is nothing short of a total crackdown on all free speech, and would give local governments free reign to silence any outlet that did not comply with the establishment propaganda. In an interview with the FT, Pitruzzella said the regulation of false information on the internet was best done by the state rather than by social media companies such as Facebook, an approach taken previously by Germany, which has demanded that Facebook end “hate speech” and has threatened to find the social network as much as €500K per “fake” post. Pitruzzella, head of the Italian competition body since 2011, said “EU countries should set up independent bodies — co-ordinated by Brussels and modeled on the system of antitrust agencies — which could quickly label fake news, remove it from circulation and impose fines if necessary.”
- Geoengineered Winter Weather Whiplash With Patented Climate Engineering Processes
Patented processes for artificially ice nucleating winter storms are owned by our government and have existed for many decades (the Chinese have openly stated they are “engineering snowstorms”). Weather warfare has been waged against populations all over the globe for decades, this includes the US population. Engineered winter weather events are now the norm. Though US media has done their best to sweep the subject of weather warfare under the rug in recent decades, there is a great deal of historical coverage. The US military has made clear the fact that they have long since considered climate change to be the greatest national security threat of all, are we to believe they would ask our permission before they would modify the weather and climate to suit their own agenda? Global geoengineering programs are not about the common good, they are not about saving the planet or humanity. The ongoing climate engineering insanity is about power, control, and attempting to mask the damage already done to our climate system while inflicting unimaginably more destruction to the climate and biosphere in the process.
- Putin mic drops Obama: Russia retaliates against US retaliations… by inviting families of US diplomats to New Year's party at Kremlin, wishes Obama and family all the best
The Russian president has rejected a suggestion of the foreign ministry to expel 35 American diplomats in response to a similar move by the US. He said Obama's act was designed to provoke a reaction, but Russia would not take the bait. “We reserve the right to retaliate, but we will not sink to the level of this irresponsible ‘kitchen' diplomacy. We will take further moves on restoring Russian-American relations based on the policies that the administration of President-elect Donald Trump adopts,” Russian President Vladimir Putin said in a statement published by the Kremlin website. Putin said that, unlike the Obama administration, Russia will not target foreign diplomats and their families days before New Year's celebrations. “We will not forbid families and children from spending the New Year's holidays at the places they are used to. Moreover, I invite the children of all American diplomats with accreditation in Russia to New Year's and Christmas festivities in the Kremlin,” the Russian president said.
- Trump praises Putin for holding back in U.S.-Russia spy dispute
U.S. President-elect Donald Trump on Friday praised Russian President Vladimir Putin for refraining from retaliation in a dispute over spying and cyber attacks, in another sign that the Republican plans to patch up badly frayed relations with Moscow. Putin earlier on Friday said he would not hit back for the U.S. expulsion of 35 suspected Russian spies by President Barack Obama, at least until Trump takes office on Jan. 20. “Great move on delay (by V. Putin) – I always knew he was very smart!” Trump wrote on Twitter from Florida, where he is on vacation.
- Why Lew Rockwell is Optimistic the Drug War Will End
Look to the war on drugs to understand why the United States has become “a prison state,” says Lew Rockwell in a new video interview with Future of Freedom Foundation President Jacob Hornberger. And, says Rockwell, look to educational efforts and state governments’ “nullification” of US drug laws for indications why drug prohibition will end. While Rockwell notes there are powerful interests fighting to perpetuate the war on drugs, Rockwell also declares in the interview his optimism that educational efforts will help increase public support for ending drug prohibition. Pointing to states “nullifying” US government anti-drug laws through actions including medical and recreational marijuana legalization, Rockwell says “we have every reason to be optimistic” that the drug war “will eventually come to an end.”
- Two of the world’s most evil people – Bill Gates and George Soros – behind Facebook’s news censorship agenda
If there’s one thing the political Left hates more than anything else it’s an honest, open debate over ideals. Authoritarian to the core, Leftists shun debate and discussion because deep down, they know they cannot defend their positions—more and bigger centralized government, top-down government-imposed “solutions,” big expensive bureaucracy, limited freedom and individualism. So what does the Left seek to do instead? It seeks to shut down debate, shout down opponents, wall off competing ideas and censor anyone who doesn’t toe the liberal line. That’s what this business of rooting out so-called “fake news” by Facebook, Google, and other social media giants is really all about. After GOP presidential nominee Donald J. Trump mopped the floor with the Left’s anointed candidate, four-time loser Hillary Clinton, the insane Left began blaming “fake news” from alternative media sources (like ours) who dared to publish the truth about what Clinton stood for and how she, not Trump, was the one “unfit” for the Oval Office.
- Bank Bailout Balloons, Tab for Italian Banking Crisis Soars
Over the Christmas holidays, when no one was supposed to pay attention, and when the markets were closed, the bailout costs of Monte dei Paschi di Siena, the third largest bank in Italy, and the center of the Italian banking crisis, suddenly jumped by 75% to €8.8 billion ($9.2 billion)! Just how immense the black hole inside of a bank really is remains unknown until the bank collapses entirely and the pieces are sorted out. No one wants to know, especially not bank regulators. But when banks are teetering, and a bank bailout, or rather a bondholder bailout is being discussed, the aspects of that hole begin to emerge, and the hole keeps getting bigger the longer someone looks at it. Earlier this year, the ECB’s stress tests of 51 large European banks determined that Monte dei Paschi was the shakiest among them. The ECB gave the bank until the end of 2016 to raise enough capital or contemplate the prospect of being wound down.
- Trump Inherits Political and Economic Titanic-Warren Pollock
Analyst and financial expert Warren Pollock says Donald Trump has been dealt a horrendous hand when it comes to the political environment and the economy. Pollock explains, “Trump inherited the Titanic or a nuclear reactor that is about to explode. As he tries to fix this giant mess, he’s bound to upset the apple cart. The economy is fragile. The society is fragile. If he touches anything, something is liable to break somewhere. People want Obama Care removed immediately. They want to see the swamp drained immediately. I think these are things he believes in, and he is certainly a pragmatic manager compared to Hillary Clinton, who would have been an utter disaster for everyone in this country. . . . The problem for Trump, besides the piranhas that are circling him, both the Democrats and Republicans, is that he has inherited the Titanic, which means he can cause us to sink faster simply by touching something. That’s why Obama Care can’t be turned off overnight. That’s why he can’t impose massive tariffs on China overnight. Whatever he does will cause tremendous dislocations. Any corrective action that he takes will have unintended consequences, and he understands that. He’s a pragmatist, and I think he is prepared to deal with this. All the people he has chosen, all have differing opinions, but they are all excellent in one way or another.”
- Those That Bless Israel Will Be Blessed And Those That Curse Israel Will Be Cursed – So Now America Is Greatly Cursed
There are consequences for our actions, and on a national level we are going to experience tremendous consequences for the very foolish decisions of our national leaders. When Barack Obama decided to betray Israel at the United Nations, he made the most fateful decision of his entire presidency. Because the Scriptures tell us that those that curse Israel will be cursed, and so America is now under a great curse due to what Barack Obama has done. All throughout the Scriptures there are equations. What I mean by that is there are many passages that tell us that if we do things God’s way we will get one result, and if we do things another way we will get another result. One of my favorite examples of this is Matthew 5:19. I have been on both sides of that particular equation, and being on God’s side of the equation is much better by far. As far as Israel is concerned, all throughout the Bible we see the principle that those that bless Israel are blessed and those that curse Israel are cursed. The very first place where we find this is in Genesis chapter 12 where God makes his famous promise to Abraham.
- John Kerry Unveils His Plan For A Palestinian State Based Upon 1967 Borders With East Jerusalem As The Capital
Barack Obama stabbed Israel in the back on Friday, and now John Kerry has slapped Israel in the face just five days later. In a shameful speech that lasted for 71 dreadful minutes, U.S. Secretary of State John Kerry laid out his plan for peace in the Middle East on Wednesday. His six-part plan is being welcomed warmly by the Palestinians, but it has further infuriated the Israelis. Kerry claims that his plan reflects the emerging global consensus as to what a “final solution” will look like, and now we will wait to see what the 70 nations that will be gathering in France to discuss the Israeli-Palestinian conflict on January 15th will do. There is a great deal of concern that the principles agreed upon at that conference will form the basis for a UN Security Council resolution that will be rushed to a vote before President-elect Donald Trump is inaugurated on January 20th. The core of Kerry’s plan is the division of the land of Israel into two states. The borders between Israel and “Palestine” would be based upon the 1967 ceasefire lines with mutually agreed upon land swaps.
- 100% Of US Warming Is Due To NOAA Data Tampering
Climate Central just ran this piece, which the Washington Post picked up on. They claimed the US was “overwhelmingly hot” in 2016, and temperatures have risen 1,5°F since the 19th century. The first problem with their analysis is that the US had very little hot weather in 2016. The percentage of hot days was below average, and ranked 80th since 1895. Only 4.4% of days were over 95°F, compared with the long term average of 4.9%. Climate Central is conflating mild temperatures with hot ones. They also claim US temperatures rose 1.5°F since the 19th century, which is what NOAA shows. The problem with the NOAA graph is that it is fake data. NOAA creates the warming trend by altering the data. The NOAA raw data shows no warming over the past century. The adjustments being made are almost exactly 1.5°F, which is the claimed warming in the article.
- Circle January 15th: 70 Nations Will Gather In Paris To Discuss The Creation Of A Palestinian State
On January 15th, representatives from 70 different countries will gather in Paris, France for an unprecedented global conference. The stated goal of this conference is to promote a “two-state solution” as the way that lasting peace will be brought to the Middle East. In Israel, there is a tremendous amount of concern that whatever is agreed upon at this conference will immediately be used as the basis for a UN Security Council resolution that would permanently divide the land of Israel and create a Palestinian state. But things would have to move very rapidly in order for that to happen, because Barack Obama’s time in the White House comes to an end on January 20th, and Donald Trump has already made it exceedingly clear that he would never support such a resolution. The UN Security Council resolution that was passed on Friday was one of the most significant events that we have witnessed in decades. Resolution 2334 made all Israeli settlements in the West Bank and in East Jerusalem illegal, it set the 1967 ceasefire lines as the border between the Israelis and the Palestinians, and it granted every single inch of East Jerusalem to the Palestinians. But it stopped short of giving official UN Security Council recognition to a Palestinian state, and that is why this conference on January 15th is so important.
- Pastor Lindsey Williams introduces Pastor David Bowen – December 29, 2016
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.
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