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Pastor Lindsey Williams introduces Pastor David Bowen – December 15, 2016

Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter. If you are not a subscriber please subscribe for free by entering your name and email address in the box below.

Pastor David Bowen is pastor of Standing Stones Community Church in Phoenix, AZ. For more information about Pastor Dave please visit http://standingstonescc.org/

Pastor Dave is also creator of the website Interpreting The Times, understanding world events through scripture. You can find out more by visiting http://www.interpretingthetimes.com/

Please leave your thoughts and comments below regarding this new addition to Pastor Williams' newsletter each week.

 


Latest News Articles – December 15, 2016

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.

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Lindsey Williams - Latest News Articles

Latest News From December 9, 2016 to December 15, 2016:

  • If Everything is so Bullish, Why Are Bank Insiders Dumping Their Shares at Record Pace?
    The Big Bullish signal with a capital B – for those who believe in this kind of religion – was that the Dow Jones Transportation Average jumped to a new high on Wednesday for the first time since 2014, and that it rose again on Thursday to another record, even as the Dow also hit new records. The theory goes that transportation stocks predict the broader market in some manner. There were other bullish signals. Everyone is finding them suddenly everywhere. The hopes are flying high that whatever Trump is going to do – from instigating trade wars to letting Goldman Sachs run the Trump administration – it’s suddenly all good for stocks. Then why are insiders at banks and industrial companies selling their share as if there were no tomorrow?
  • All Hell Is Breaking Loose In These Key Markets
    On the heels of the U.S. election, all hell has broken loose in these key markets. The following charts are from Jason Goepfert at SentimenTrader. King World News note:  Below you can see the commercial hedgers position in the 10-Year Treasury market.  Note that commercial hedgers been dramatically increasing their long positions recently in the U.S. Treasury market — now near an all-time record.  Meaning, the selloff in Treasuries has reached an extreme and may be ready for at least a significant countertrend rally.
  • Treasuries Melt Down, Junk Bonds Boom, Yield Spreads Collapse
    The costs of borrowing for the US government are jumping. On Monday, the US Treasury auctioned $34 billion of three-month bills at a discount rate of 0.53%, the highest since October 2008. These short-term bills sell for less than face value and are redeemed at face value. The difference is the yield for investors. For a three-month bill with a face value of $10,000, the price was $9,986.60. Holding this bill for three months until redeemed will make investors $13.40 in yield. That’s an annualized rate of 0.538%. During the rest of trading on Monday, the yield settled down a bit, but today is up again, currently at 0.55%. While still low by historic measures, it’s up from about zero in October last year.
  • Wells Fargo fails ‘living will' test, faces restrictions: U.S. regulators
    U.S. officials on Tuesday limited Wells Fargo & Co's (WFC.N) ability to grow its business, punishing the bank for not having a sufficient plan to protect markets in the case of bankruptcy. The ruling crowns a dismal year for the San Francisco lender roiling from a scandal in which bank employees created as many as 2 million accounts without customer authorization. Chief Executive Officer John Stumpf resigned in the wake of that controversy. Tuesday's ruling means the bank may not establish international bank entities or acquire non-bank subsidiaries, regulators said.
  • Who the Heck are these Households that are Worth $90 Trillion?
    One thing is working in this economy that has been stuck for years in a slow-growth mire: the inflation of asset prices. And the Federal Reserve, which has been engineering this miracle so adroitly, just released its latest progress report. It reported today that the net worth of household and non-profits – they’re lumped together – rose in the third quarter by 1.8% or $1.59 trillion, to a record $90.2 trillion. That’s up 6% or $5.2 trillion from a year ago.
  • WARNING: Is This The Greatest Threat To The World?
    Is this the greatest threat to the world? Stephen Leeb:  “So far, Trump’s tough talk and promise to make America great again have been intoxicating to investors. Money has been leaving the shelters of bonds and gold and pouring into stocks and commodities, propelling the market’s powerful rally and leaving gold – for now – a sad wallflower…
  • Gerald Celente Blasts Washington Post, And Answers The All-Important Question, Will Alternative Media Survive?
    Today the top trends forecaster in the world spoke with King World News and blasted the Washington Post.  He also answered the all-important question, will the alternative media survive? Eric King:  “One of your top trends for 2017 is Rest In Peace, The Fourth Estate.  This has to do with newspapers being on their deathbeds — the mainstream media, etc — and there are some questions about what will replace it.  But in the meantime, obviously there is a war on alternative media.  Cover the war on alternative media and the Fourth Estate.  Will alternative media survive and what about the Fourth Estate?”
  • James Turk – Central Banks Are Finally Losing Control
    As we kick off the third week of trading in December, today James Turk told King World News that central banks are finally losing control of global markets. Central Banks Are Losing Control. James Turk:  “Everybody needs to be focusing on what is happening with interest rates, Eric. The yield on the 10-year Treasury Note is flirting with 2.50%. The last time we saw a yield that high was over two years ago. But rising yields are not just happening in the US. Yields are rising in Europe and Asia too. The upward pressure on interest rates is global, and more to the point, central banks are losing control…
  • Stock Market Genius Warns Americans About False Hope With US Economy
    In the recent weeks since Donald Trump was announced victorious in his bid for the White House, the general sentiment among a growing number ordinary Americans across country has shifted to the idea that Mr. Trump can somehow turn around the derelict vessel otherwise known as the U.S. economy, and prevent it from sinking. With daily sound bites covering how the “Post-Election Trump Bounce” has yielded a rise in the Dow by more than 1,200 points since Trump’s historic win, the announcement of Softbank investing $50 billion dollars and creating 50,000 new jobs in the United States, or the announcement of how the U.S. Dollar index is now at its highest levels since March of 2003, it’s hard to imagine why people wouldn’t be hopeful, right?
  • Brazil: Clashes as Senate approves 20-year austerity plan
    The Brazilian Senate has approved a controversial amendment to the constitution capping public spending for the next 20 years. The approval of the austerity measure is an important victory for President Michel Temer. He took office earlier this year promising to lead the country out of its worst recession in many decades. Protests against the measure turned violent in the capital Brasilia and at least a dozen states in the country. The opposition says the measures will mainly hit areas such as health and education, which are already underfunded. Thousands of demonstrators took to the streets during the Senate session to protest against the austerity plan. After the vote, many demonstrations descended into violence.
  • Dr. Jim Willlie, Peter Schiff, and Bill Holter: Cracks Forming in Bond Markets
    After eight years of Obama’s disastrous economic policies, it’s understandable why Americans would want to be hopeful, and why they are consciously choosing to view the recent gains in U.S. equity markets as a harbinger of things to come under a Donald Trump presidency. Unfortunately, there is nothing to suggest the shifting sentiment toward the notion that Donald Trump can somehow fix our economy is warranted. In fact, it’s dangerous. Americans would be wise to heed a recent quote from Michael Snyder: “Now is not a time to party.  Rather, it is time to batten down the hatches and to prepare for very rough seas ahead. All of the things that so many experts warned were coming may have been delayed slightly, but without a doubt they are still on the way. So get prepared while you still can, because time is running out.”
  • US Federal Reserve raises interest rates for first time in a year
    The Federal Reserve has raised a key interest rate in response to a solid US economy and expectations of higher inflation, and it foresees three rate hikes in 2017. The central bank announced after its latest policy meeting that it is increasing its benchmark rate by a modest quarter-point to a still-low range of 0.5 per cent to 0.75 per cent. The Fed's action will mean modestly higher rates on some loans. It should have little effect on mortgages or car and student loans because the Fed does not directly affect those rates, at least not in the short run. But rates on some other loans — notably credit cards, home equity loans and adjustable-rate mortgages — will likely rise soon, though only modestly.
  • The Conspiracy to Shut Down Truth, Donald Trump, and The American People
    There is circumstantial evidence that the Washington Post, the New York Times, and the rest of the presstitute media are part of a conspiracy with the oligarchs, the military/security complex, the Hillary Democrats, and neoconized Republicans to shut down the dissident Internet alternative media and to deny Donald Trump the presidency. Consider the brand new website PropOrNot and its fake news list of 200 Internet Russian agents. PropOrNot is a website hidden behind multiple screens as would be an offshore tax avoidance scheme. In other words, no known, responsible entity is behind the site, which has libeled 200 other websites, or if it is, it is too ashamed of what it is doing to be associated with it publicly.
  • IBM to hire 25,000 more workers in the US in the next four years and invest $1billion in employee development, tech boss vows ahead of Trump meeting
    US technology giant IBM has said it will hire 25,000 people in the United States over the next four years, ahead of a meeting between President-elect Donald Trump and tech industry leaders. About 6,000 of those appointments will be made in 2017, IBM chief executive Ginni Rometty wrote in opinion article published in USA Today. IBM, which in recent years has restructured its activities, will invest $1billion on employee training and development in the next four years, said the IBM president, chairman and CEO.
  • Has Liberty Departed From America? — Paul Craig Roberts
    Can a few Internet sites save your existence as a free person protected by the US Constitution? Not without your help. If 400,000 Americans gave up the cost of a 6-pack of beer, it could mean the preservation of your freedom. If the millions of my readers were willing to give up the small cost of a 6-pack of beer, we could defeat the evil that rules the West. Are your civil liberties less valuable to you than a 6-pack of beer? The fake news stories pouring out of the blood-drenched Obama regime, the ruling Oligarchy’s “liberal progressive” well paid front groups for war criminal Hillary, and secret and unnamed propagandists, such as PropOrNot, endorsed by the Washington Post, New York Times, and the rest of the press prostitutes who lie for money, are intended to discredit those few who tell the truth. This column from August 31, 2016 is worth reading again. Are You a Mind-Controlled CIA Stooge?
  • Art Cashin – 1930 Economic Collapse And Traders Worry This Will Be The Next Move By The Left Wing Conspiracy Theorists
    With the Nasdaq hitting new all-time highs along with the Dow, which is now approaching 20,000, today one of the greats in the business takes a look at the 1930 economic collapse and traders worry this will be the next move by the “left wing conspiracy theorists.” Today’s note from Art Cashin: On this day (-2) in 1930, American savers, the Federal Reserve and a Republican President all got a nasty surprise. The banking system had been shaky for a year or two but it looked like things might finally be beginning to stabilize. That is until today. On this day, a major financial institution, The Bank of the United States went belly up. And, with it went the savings, “in whole or in part”, of over 400,000 depositors. The Bank of the United States has been a historically unlucky name for several institutions. The first “Bank of the United States” was proposed by no less than Alexander Hamilton. It was a privately held central bank for the United States some 125 years before the Fed was created. It was very controversial as Southerners saw it as a boon and tool of the mercantile North while the South’s main industry, agriculture, didn’t need strong banking. The bank’s charter was allowed to expire and the bank disappeared.
  • Dr. Jim Willie: What Happens When the U.S. is Forced to Launch a Domestic Only Currency?
    In the following interview, Dr. Jim Willie joins Elijah Johnson with SilverDoctors with for a discussion on recent developments in global financial markets. Several of the topics discussed include the recent Italian referendum that failed to pass by nearly a 20 point margin, which will likely result in Italy ultimately abandoning the common Euro Currency (not to be confused with abandoning the European Union), and how that decision will affect financial markets around the world. The interview then transitions into the recent presidential election between Hillary Clinton and Donald Trump, and how the mainstream media here in the United States has reached unprecedented levels of dishonesty with the American people. How can you tell if something is “fake news” these days? The mainstream is covering it. Any “actual news” that people need to know so that they can make informed decisions, is avoided completely by the mainstream.
  • So Who Gets to Pay for Italy’s Banking Crisis?
    “There is not and there will not be a banking crisis in Italy, nor will there be a European financial crisis coming from Italy.” Those were the emphatic words of EU Economics Commissioner Pierre Moscovici over the weekend. “We have the capacity to deal with the situation and it will be dealt with from both Italy and at the European level” he told France Info radio. Clearly, quixotic delusions are as rampant as ever at the loftiest heights of Brussels’ ivory towers. Either that, or things are now so serious that lying is the only tactic left available. The markets also appear to be in a state of eerie complacence. Since rumors of yet another publicly funded bailout emerged early last week, bank shares have taken off, not only in Italy but across most European markets. Shares of Unicredit, Italy’s only “systemically important financial institution,” has surged 20%, while Italy’s second largest bank, Intesa Sanpaolo, is up 10%.
  • Why U.S. Dollar Will Absolutely Collapse; What Losing Global Reserve Currency Means
    Unless you’ve been living under a rock the last two or three years, it’s been almost impossible not to hear about how there’s a global economic collapse of some kind coming in the near future. Even if all you’ve heard about the coming collapse has been William Devane’s gold pitch for Rosland Capital (seemingly every other commercial on television), odds are you’ve heard at least something. Unfortunately, often due to no fault of their own, many Americans haven’t been taught economics, so they don’t really pay much attention to news that comea out regarding a coming global collapse, especially not when the President of the United States keeps telling them we’re in a “recovery.”  If there was something people needed to know, our always honest and truthful politicians, or the mainstream media would tell everyone right? Wrong.
  • Is Donald Trump Going To Nominate Ted Cruz To Fill The Open Seat On The Supreme Court?
    Is the next U.S. Supreme Court Justice going to be Ted Cruz? As wild as that might sound, there is buzz that it might actually happen. We all remember the bitter words that were exchanged between Ted Cruz and Donald Trump during the Republican primaries, but since that time they have mended fences, and Cruz ultimately ended up endorsing Trump. And Trump has shown that he is willing to work with his former rivals. He has already chosen Ben Carson to be his Housing Secretary, for a while there it looked like Mitt Romney was the leading contender to be Secretary of State, and on Monday Carly Fiorina actually met with Trump about a potential position in his administration. So just because Ted Cruz and Donald Trump clashed on the campaign trail does not mean that Trump would hold a grudge.
  • Financial Black Hole Will Be Filled-Gregory Mannarino
    Analyst/trader Gregory Mannarino says the bond market and stock market are way out of kilter and look for a big correction. Mannarino explains, “Something has to give here.  Either a lot of cash has to go back into the bond market, and I don’t know where it’s going to come from, or the stock market has to come down to normalize this.  Right now, the market is trying to price in a new President here with his outlook on the economy, lowering corporate taxes and trying to create jobs.” Mannarino also points out, “Asset prices have been pushed to extremes, and either an extreme to the top or an extreme to the bottom. In the middle is kind of like a black hole, and this black hole has to be filled.  . . . That hole has been created by runaway central banks that have done everything they can to re-inflate bubbles that have burst. For example, the last housing bubble that they re-inflated.  Housing is now more expensive than it has ever been.  It’s the same with the stock market bubble.  They have done this on the back of a debt bubble, which is the most epic bubble the world has ever seen.”
  • Saudi Arabia Has Funded 20% Of Hillary's Presidential Campaign, Saudi Crown Prince Claims
    In what may be the pinnacle of hypocrisy, moments ago Hillary Clinton, while speaking live on national security and addressing the Orlando shooting took some time from her constant bashing of the Second Amendment and calling for a ban on assault rifles, to say some less than kind words about Saudi Arabia whom it accused of supporting radical organizations. This is what she said: ‘The third area that demands attention is preventing radicalization and countering efforts by ISIS and other international terrorist networks to recruit in the United States and Europe. For starters, it is long past time for the Saudis, the Qataris and the Kuwaitis and others to stop their citizens from funding extremist organizations. And they should stop supporting radical schools and mosques around the world that have set too many young people on a path towards extremism. We also have to use all our capabilities to counter jihadist propaganda online. This is something that I spend a lot of time on at the State Department.' There is nothing wrong with that statement, as it is the whole truth – Saudi Arabia's involvement in supporting terrorism stretches from Sept 11 all the way through to ISIS – however, where there  is a big, and potentially law-breaking,  problem is what Jordan's official news agency, Petra News Agency, reported on Sunday citing the Saudi crown price, namely that Saudi Arabia is a major funder of Hillary Clinton’s campaign to become the next president of the United States.
  • Rogue Elements of the CIA Are Operating Against President-elect Trump — Paul Craig Roberts
    Alex Jones catches a lot of grief. Some of it he brings on himself by being over the top, but most of the criticism he receives comes from his practice of dragging into the news issues that otherwise would remained cloaked in silence. Alex is certainly correct to stress that elements in the CIA, or someone claiming to be CIA, are planting stories in the media that Russia hacked Hillary’s emails and used the damning information to elect Trump. The truth of the emails is not what is in question. It is their alleged Russian origin. There is no evidence for this claim. Wikileaks said the emails came to them as a leak from inside, not from an outside hack, and former top NSA official William Binney has said that if Russia was the source the NSA would have conclusive proof.
  • If You Are For Peace You Are A Russian Agent — Paul Craig Roberts
    Speaking of fake news, the latest issue of the National Enquirer at the supermarket checkout is giving the mainstream presstitute media a run for the money: “Castro’s Deathbed Confession: I Killed JFK. How I framed Oswald.” That’s almost as good as the fake news going around the presstitute media, such as the TV stations, the Washington Post, New York Times, and Guardian—yes, even the former leftwing British newspaper has joined the ranks of the press prostitutes—that the CIA has concluded that “Russian operatives covertly interfered in the election campaign in an attempt to ensure the Republican candidate’s victory.”
  • MSM Makes Trump a Devil, Stocks Are Sky High-Again, US Drought Moves East
    Time Magazine chose President-Elect Donald Trump as the “Person of the Year.” Is that the mainstream media (MSM) trying to make amends for the way they treated Trump?  Maybe, but it appears Trump has devil horns by the way Time laid out the cover.  It says it was an inadvertent mistake, but this is a magazine company with 90 “Person of the Year” covers.  A professional magazine company that makes a mistake that big on an incoming President that the liberal biased media tried to destroy sounds disingenuous to me. Stocks are hitting the 27 to 28 PE ratios again. This is what the price to earnings were the last time the markets melted down in 2008.  Look out for a big correction.
  • Trumphoria: Americans Are More Optimistic About The Economy Than They Have Been Since Obama’s Win In 2008
    Optimism about the future of the U.S. economy has not been this strong since Barack Obama’s first presidential election victory in 2008. Donald Trump promised us an economic resurgence, and what is not to like so far? As I discussed earlier this week, stocks are soaring, businesses are already announcing that they are bringing jobs back to the United States, and the U.S. dollar has been lifted to levels that we haven’t seen in many years. Many are referring to this post-election surge as “Trumphoria”, and I think that is quite appropriate. Personally, I couldn’t imagine financial markets behaving this way if Hillary Clinton had won the election. Right now tens of millions of Americans are feeling deeply optimistic about the future for the first time in a very long time, and this is clearly reflected in the results of the most recent CNBC All-America Economic Survey…
  • Russian hackers ‘probably swayed Brexit vote'
    Russian hackers “probably” swayed the EU referendum vote in favour of Brexit, a former Labour minister has claimed in the Commons. Leading Remain campaigner Ben Bradshaw questioned the validity of the result in June, claiming people were underestimating the extent of cyber warfare by Russian President Vladimir Putin. His extraordinary claim came in an emergency Commons debate on the latest developments in Syria, where President Bashar Assad's Russian-backed forces have been storming the city of Aleppo. But his allegation was given short shrift by Prime Minister Theresa May's spokesman, who responded: “I have not come across any evidence that Russian cyber warfare was used to influence the referendum.”
  • 14 Signs That There Is A Plot To Use Russia As An Excuse To Steal The Presidency From Trump On December 19th Or January 6th
    Donald Trump could have the election legally stolen from him on either December 19th when the Electoral College casts their votes or on January 6th when a joint session of Congress gathers to count those votes.  The establishment is in full-blown panic mode at this point, and they seem to have settled on “Russian interference in the election” as the angle that they plan to use to try to deny Trump the presidency.  As you will see below, there is an all-out effort to try to persuade members of the Electoral College that are supposed to be committed to Donald Trump to cast their votes for someone else instead.  And if that doesn’t work, the groundwork is being laid for the Electoral College votes to potentially be invalidated when a joint session of Congress meets to count those votes on January 6th.  I will explain how that would work later on in this article, but first let’s take a look at 14 signs that indicate that there is a plot to use Russia as an excuse to steal the presidency from Donald Trump…
  • Scientists Want to Give the Atmosphere an Antacid to Relieve Climate Change
    As long-term global average temperatures steadily rise, and international efforts to address them steadily fall short, some scientists and engineers are working on increasingly desperate solutions to the symptoms of global climate change. One approach to “geoengineering” the earth is to mimic the natural atmospheric cooling effect that tends to follow the massive dispersion of sulfur dioxide into the air during a volcanic eruption. There are a few obvious problems with this approach. For instance, it's unclear what nation or international body would be authorized to release the sulfur dioxide. The chemical is also a pollutant that can cause acid rain. It might indirectly both eat away at the layer of ozone that protects living things from ultraviolet light and warm the lower part of the stratosphere above the tropics, about 19 miles up.
  • Secret Agenda: Are They Planning To Use ‘Russian Interference’ As An Excuse To Invalidate Trump’s Election Victory?
    It has been said that nothing happens by accident in politics, and it is certainly no accident that Barack Obama, Hillary Clinton, members of the U.S. Senate and the mainstream media are all suddenly buzzing about “Russian hacking” and “Russian interference” in our elections.  Over the past 48 hours, the Washington Post, the New York Times, and just about every other major news source in America has been breathlessly telling us that the CIA has concluded that the Russians “intervened” in the presidential election with the specific goal of helping Donald Trump win.  The implication is that if the Russian interference was significant enough, it could have “unfairly” altered the outcome of the election and thus Donald Trump’s victory was not legitimate.  And if his victory was not legitimate, that opens up all sorts of possibilities for the Democrats. For those that have been wondering if the establishment was going to attempt to steal the presidency away from Donald Trump before he can be inaugurated, we now appear to have our answer.
  • The December 19 Electoral College Vote Must Be Postponed Until We Figure Out What’s Going On With Russian Electoral Interference
    In a post-truth political sphere, it’s almost impossible to find consensus. Trump won the Electoral College resoundingly; Clinton won the popular vote by millions. Trump’s November 8th coalition comprised as unusual and diverse an ideological coalition as the U.S. has seen; nearly half of Clinton voters thought Sanders should’ve been the Dem nominee. But here are three things all Americans, no matter their politics, agree on: 1. Foreign governments should play no role in the outcome of American elections. 2. No person should ascend to the presidency due to the interference of a hostile foreign government. 3. We have absolutely no idea whether a foreign government played a role in the outcome of the recent general election, and therefore we have no idea whether a political candidate is about to ascend to the presidency due to the interference of a hostile foreign government. I’ve been watching wall-to-wall coverage of the election for the past month, and I can’t recall hearing any Republican or Democratic operatives disagreeing with any of the above premises.
  • Greece faces permanent crisis as IMF warns bail-out plan ‘simply not credible'
    The International Monetary Fund has hit back at claims that it is demanding more austerity in Greece, as the Fund warned that the country's ambitious budget targets were “simply not credible”. Firing a broadside at Brussels and Athens, Maurice Obstfeld, the IMF's chief economist, and Poul Thomsen, director of the IMF's European department, said cuts to investment and discretionary spending had “gone too far” and would prevent the Greek economy from recovering. Just 48 hours after Euclid Tsakalotos, Greece's finance minister, accused the IMF of “betraying” the country by pushing for more belt tightening, the senior IMF officials insisted that they were “not demanding more austerity”. “We have not changed our view that Greece does not need more austerity at this time. Claiming that it is the IMF who is calling for this turns the truth upside down,” they wrote in a blog post.
  • Italy poses a huge threat to the euro and union
    Chronic inability to separate the probable from the desirable has been the tragedy of 2016. Wishful thinking is becoming a threat to the survival of liberalism itself. This tendency is especially evident in the discussion about Italy’s future in the eurozone. The complacent now say that Italy is good at muddling through; that the establishment can always stitch up the electoral system to prevent a victory by an extremist party. In any case, the Italian constitution does not allow for a referendum on leaving the euro. So it cannot happen. Really? I don’t think so. Start with the discrepancy in economic performance between Germany and Italy. One metric is the imbalances within Target 2, the eurozone’s payment system. At the end of November these reached higher levels than during the height of the eurozone crisis in 2012. Germany’s surplus is at €754bn, while Italy’s deficit is at €359bn. A part of the imbalances relates to the European Central Bank’s programme of quantitative easing, and is thus harmless. But the bulk is due to what might be described as a silent bank run.
  • One River CIO's Disturbing Prediction: “This Is The Biggest Policy Error In 50 Years”
    With the Dow Jones just a handful of gamma imbalance rips away from 20,000, the CIO of One River Asset Management, Eric Peters, shares some critical perspective on the market's recent euphoric surge, going so far as to brand what is going on as America's “Massive Policy Error”, the biggest in the past 50 years.
  • Top Conspiracy Theories about India’s Demonetisation Mess
    The sudden demonetisation of large denomination currency notes by the Government of India on 9th November 2016 has created a mix of shock, horror, confusion, speculation and conspiracy theories across the Subcontinent. The Government of India, led by BJP Prime Minister Narendra Modi, claimed that this was a necessary measure because, 1. These large denomination notes were being used to hoard “black money” in India. Since demonetisation would require such notes to be deposited in a bank account or exchanged at the bank during a small window of time, the Government, eagerly monitoring the banks, would be able to spy on such “hoarders of black money” and seize/penalize/confiscate their moolah. Those who did not deposit their “black money” would be expected to sit crying while it turned into toilet paper after the deposit window expired. (And those of you without access to a bank account in India are expected to hang on these currency notes as souvenirs). 2. A very big portion of these notes was being counterfeited by a foreign power(s). Since these arguments are too simplistic to suffice readers of this website, Cabal Times presents the Top Demonetisation Conspiracy Theories currently swirling across the Subcontinent.
  • Leaked Footage Exposes CNN Producing Fake News During First Gulf War
    Leaked footage has emerged of Charles Jaco when he was the CNN anchor made internationally famous for heroically covering the 1990 Persian Gulf War. The first part of this video shows the stage set he was on while he clowns around with fellow CNN staff. The Saudi Arabian “hotel” in the background is adorned by fake palm trees and a blue wall in a studio. This clip was leaked by CNN staff. The second part of this video is a live CNN satellite feed recorded onto VHS showing the final cut. Charles Jaco is wearing a different jacket, but he had the same act. Even though the acting is terrible as Charles Jaco wore a gas mask, and his fellow correspondent Carl Rochelle wore a helmet—the American public were manipulated and duped en masse. The sirens and missile sound effects are part of the stage set. The camera never pans out or shows the sky as they appear terrified of chemical weapons being dropped from above. These clips are the highest quality of this newscast and behind the scenes. And yes, Charles Jaco was a reporter for CNN and then worked as a reporter for FOX 2 NOW in Saint Louis, Missouri.
  • TPP Could Go Forward without the United States
    The election of Donald Trump has closed the door to consideration of the Trans-Pacific Partnership (TPP) during the lame duck session of Congress this year. During the campaign, Trump vowed to rip up TPP; Republican leaders in Congress, beholden to Trump for saving their majorities in the Senate and House, will not challenge him in the flush of this unexpected but decisive electoral victory. What’s the future for TPP? Most likely, Trump will simply not implement it. Without US participation, the pact cannot definitively enter into force. It’s death by malign neglect.
  • TPP bill passed by New Zealand Parliament
    Parliament has passed the Bill that allows the Government to ratify the Trans-Pacific Partnership free trade agreement amid opposition complaints that it's a waste of time. The Bill lines up New Zealand laws with its obligations under the 12-nation agreement which covers 40 percent of global trade and 800 million people. Partner countries signed it in February but it still has to be ratified – and the United States is the big problem. President-elect Donald Trump is a vehement opponent and Prime Minister John Key has said the chance of the US Congress ratifying it before the January 20 inauguration is “close to zero”.
  • Catholic Church: New Priests Will be Expected to Preach Global Warming
    Catholic Online reports that new priests will be expected to be familiar with and promote efforts to reduce carbon emissions. Whats next? Excommunication of scientists whose theories aren’t approved by the Pope?
  • Saudi Arabia informs US and European customers of oil supply cuts from January
    Saudi Arabia is said to have told its customers across the US and Europe that it will be cutting down on its crude shipments from January. The world's second largest oil country in terms of proven reserves, has reportedly said that the move was in line with the outcome of the Organization of the Petroleum Exporting Countries (OPEC) meeting last week. During the talks, member countries committed to cutting 1.2 million barrels per day (bpd). “We told our customers of the allocations and the compliance with allocations (for the cuts) for Saudi Arabia is 100 percent,” anonymous Gulf oil industry told Reuters.
  • Revealed: the extent of the buy-to-let market collapse
    New research has exposed the scale of the fall in buy-to-let purchases in the year that the Government hiked stamp duty by 3pc on such transactions. The number of properties sold to buy-to-let investors has fallen 63.7pc in the year to November in England and Wales, according to the estate agency Haart, dropping 8.2pc last month alone. In London, the number of such properties sold fell by 40pc. It also reported that the number of landlords registering to buy properties is down 59.2pc annually. There was a big surge of transactions in March, before the stamp duty came in, followed by a sharp decline.
  • India Confiscates Gold, Even Jewelry, In Raids On Hidden Money
    Global financial repression picks up steam, led by India. After declaring large denomination notes illegal, India now targets gold. It’s not just gold bars or bullion. The government has raided houses, no questions asked, confiscating jewelry. For background to this article, please see my November 27 article Cash Chaos in India, 86% of Money in Circulation Withdrawn; Cash Still King in Japan. Large denomination means 500-rupee ($7.30) and 1,000-rupee notes ($14.60), which account for more than 85 percent of the money supply. They are no longer legal tender, effective immediately.
  • Rise Of The Machines: Millions Of American Jobs Will Be Wiped Out In The Next Five Years
    There is a paradigm shift coming and it is about to rewrite everything we know about economics, human labor, and government dependence. Earlier this week Amazon launched its first Amazon Go store, which allows a customer to walk in, grab the items they want, and simply walk out. Everything is tracked utilizing RFID chips, so the second you step out of the store Amazon knows exactly what you’ve purchased and automatically charges your account. Amazon’s latest move is simply the next evolution designed to make human labor obsolete.
  • Goldman President Gary Cohn Accepts NEC Director Role
    As reported last week, Trump had offered Goldman Sachs president and COO the job of his top economic advisor, as Director of the National Economic Council Director. Moments ago CNBC reported that, as expected, Cohn has accepted the role. The National Economic Council, which Cohn would lead, is meant to “coordinate policy-making for domestic and international issues, to coordinate economic policy advice for the president, to ensure that policy decisions and programs are consistent with the president's economic goals, and to monitor implementation of the president's economic policy agenda,” according to the office's website. While we have no reason to doubt Cohn' patriotism, we are confident that another motivating factor was the ability to sell some his $210 million or so in Goldman shares tax free, saving approximately $80 million in taxes simply for becoming officially a part of the US administration, instead of merely running the country from the shadows.
  • Here’s what happens when a currency completely breaks down
    In Venezuela, hyperinflation has become so pitiful that shopkeepers are no longer bothering to actually count money. Instead, they’re weighing it… as in literally pulling out a scale and weighing giant stacks of money. Do you want to buy a bottle of Coca Cola? That’ll be 1 kilo of currency please. One shopkeeper interviewed by the Guardian newspaper said he’s piling up bricks of cash so quickly he feels like Pablo Escobar. And yet Venezuela’s hyperinflation continues growing worse; those bricks of cash are buying less every week. This is an important lesson.
  • China flies nuclear bomber over South China Sea to ‘send a message' to Donald Trump
    China has flown a nuclear-capable bomber outside its borders in a show of force for the first time since US President-elect Donald Trump's phone call with the president of Taiwan. The 10-minute telephone call with President Tsai Ing-wen was the first by a US president-elect or president since President Jimmy Carter switched diplomatic recognition from Taiwan to China in 1979, acknowledging Taiwan as part of “One China”. It led to protests from Beijing. The Xian H-6 bomber flew along the disputed ‘nine-dash line' around the South China Sea on Thursday, US officials told Fox News, passing over a number of disputed islands. The officials said it was designed to send a message to the incoming administration. The Pentagon found out about the flight on Friday and officials said it was the first long-range flight along the demarcation line in more than 18 months – though this sortie extended further than previous ones.
  • Which of these would you rather have in your safe?
    Let’s say you have two equal size safety deposit boxes. One box you completely fill up with stacks of $100 bills. The other box you fill up with gold. Which of the two is “worth” more? It’s easy to calculate. A stack of 100x $100 bills is 6.14 inches long, 2.61 inches wide, and 0.43 inches tall. That’s a volume of 6.89 cubic inches (112.92 cubic centimeters… and we’ll use the metric system from here on out because it really does make more sense!). A stack of 100x $100 bills is worth $10,000. So the paper money’s ‘value density’ is about $88.55 per cubic centimeter. Gold, on the other hand, is much more value dense. A 1-kilogram bar of gold is 11.55 cm long, 5.25 cm wide, and 0.92 cm tall, for a total volume of 55.79 cubic centimeters.
  • Marc Faber on 2017 Trump Rally, Gold, Bonds and The Market
    Marc Faber’s ‘Contrarian’ Trump Strategy: Buy Gold, Emerging Markets Marc Faber, the editor and publisher of “The Gloom, Boom & Doom Report,” speaks to Brian Sullivan. “I think that in 2017 my recommendation would be to overweight emerging economies, and I would also overweight Europe, partly because I think that the sentiment about the U.S. dollar is far too optimistic. I think the dollar is terribly overbought and overvalued, so I wouldn’t get into the U.S. dollar at this time,” Faber said.
  • Euro Devaluation Accelerates – Millions Of Europeans Wishing They’d Bought Gold
    ECB Chairman Mario Draghi’s announcement of bigger and better QE this morning should have surprised no one. The fact is that the eurozone is coming apart at the seams and the only tool left to delay the inevitable is easier money. As the following chart illustrates, the euro has been declining since 2008, with the descent accelerating lately. And more is coming. The only way for Italy, Greece and possibly France to keep it together is for their currency to plunge relative to those of their trading partners, thus making it easier to sell domestically-produced stuff abroad. So euro parity with the dollar will generate headlines when it happens but will just be a way-point on a journey to much lower numbers. That is, if the whole global financial system doesn’t blow up first.
  • No Surrender in the Fed’s “War on the Markets”
    People never intend to bring disasters upon themselves. But they sometimes put themselves in situations in which disaster is the only way out. The War Between the States was supposed to be quick and decisive. The glorious histories of the war were already written – at least in the minds of the combatants – by the time of the First Battle of Bull Run. There would be a few heroic charges; Napoleon’s Marshal Ney would have nothing on the dashing Confederate generals in their gray and red tunics. Mounted on their fine Tennessee horses, waving their swords and shouting encouragement to their cavalry, they would sweep the enemy from the field…  send him fleeing back across the Potomac… and the war would be over. But even authors often don’t know how their stories will turn out. Events and personalities take over. Between the first chapter and the final one, there are twists and turns that few expect. The hero turns out to have a fatal flaw. Circumstances weren’t what they thought. The enemy had surprises. And then, at the end, the great victory turns into a nightmare defeat.
  • Shell Studies Green Energy Deals to Prepare for Future After Oil
    Royal Dutch Shell, the world’s second-biggest publicly listed oil company, is studying acquisitions in the green energy sector, its CEO told Reuters, as it bows to shareholder demands for a strategy beyond fossil fuels. Shell, which has a market value of $200 billion, produces two percent of the world’s oil and gas but rapid technological change coupled with policies to protect the climate have kick-started a shift in energy markets that has put enormous pressure on oil companies to plan for a time after fossil fuels. “The idea that you can just be a very clever observer and step in when the moment is right, forget about it,” Shell Chief Executive Ben van Beurden told Reuters. “I am convinced that in this space we will play an active role, a leading role and we will plan acquisitions in it.”
  • Three Member Countries Bail On OPEC’s Plan To Raise Oil Prices
    Three OPEC member states won’t be complying with the group’s deal to reduce oil production, according to a new survey. Angola will ignore OPEC’s plans to slash production, while Nigeria and Libya aren’t even bound by the cuts, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. Angola increased production by 200,000 barrels a day last month while Nigeria and Libya increased their combined production by 140,000 barrels a day. OPEC recently announced production cuts, causing the price of oil to rise to around $52.04 per barrel. The move comes after OPEC refused to cut production in 2014 to depress prices and counter new competition, largely from U.S.-based hydraulic fracturing. The cheap prices were intended to kill off the American fracking industry and other new producers, but they have not had their intended effect. OPEC members were hurt even more than U.S. companies.
  • A Major Red Flag? Chinese Oil Demand Growth Could Shrink 60% In 2017
    Chinese growth of crude oil imports may likely shrink by more than 60 percent next year, as storage facilities are filling in and smaller refiners face more scrutiny over taxes and licenses, according to a Bloomberg survey of analysts. According to Energy Aspects analyst Michal Meidan, Chinese crude oil imports are expected to grow by 5 to 9 percent in 2017, compared to an estimated growth of 11 to 14 percent this year. According to customs data quoted by Bloomberg, Chinese imports increased by 14 percent to average 7.5 million bpd between January and November this year. The median estimate of 8 analysts in the survey showed that China would increase oil purchases by 4.8 percent on the year in 2017.
  • A Major Red Flag? Chinese Oil Demand Growth Could Shrink 60% In 2017
    Chinese growth of crude oil imports may likely shrink by more than 60 percent next year, as storage facilities are filling in and smaller refiners face more scrutiny over taxes and licenses, according to a Bloomberg survey of analysts. According to Energy Aspects analyst Michal Meidan, Chinese crude oil imports are expected to grow by 5 to 9 percent in 2017, compared to an estimated growth of 11 to 14 percent this year. According to customs data quoted by Bloomberg, Chinese imports increased by 14 percent to average 7.5 million bpd between January and November this year. The median estimate of 8 analysts in the survey showed that China would increase oil purchases by 4.8 percent on the year in 2017.
  • Deutsche Bank Provides “Smoking Gun” Proof Of Massive Rigging And Fraud In The Silver Market
    Back in April, when we first reported that Deutsche Bank had agreed to settle allegations it had rigged the silver market in exchange for $38 million, we revealed something stunning: “in a curious twist, the settlement letter revealed that the former members of the manipulation cartel have turned on each other”, and that Deutsche Bank would provide docments implicating other precious metals riggers. To wit: “In addition to valuable monetary consideration, Deutsche Bank has also agreed to provide cooperation to plaintiffs, including the production of instant messages, and other electronic communications, as part of the settlement. In Plaintiff’s estimation, the cooperation to be provided by Deutsche Bank will substantially assist Plaintiffs in the prosecution of their claims against the non-settling defendants.” Overnight we finally got a glimpse into what this “production” contained, and according to documents filed by the plaintiffs in the class action lawsuit, what Deutsche Bank provided as part of its settlement was nothing short of “smoking gun” proof that UBS Group AG, HSBC Holdings Plc, Bank of Nova Scotia and other firms rigged the silver market. The allegation, as Bloomberg first noted, came in a filing Wednesday in a Manhattan federal court lawsuit filed in 2014 by individuals and entities that bought or sold futures contracts.
  • Rex Tillerson of ExxonMobil Expected to Be Named Trump's Secretary of State: Sources
    Donald Trump is expected to nominate ExxonMobil CEO Rex Tillerson as his secretary of state, two sources close to the transition process told NBC News on Saturday. The 64-year-old veteran oil executive has no government or diplomatic experience, although he has ties to Russian President Vladimir Putin. The pick would put to rest weeks-long speculation of who would earn the post as the U.S.'s top diplomat, and would place Tillerson fourth in line to the presidency. He will also be paired with former U.N. Ambassador John Bolton as his deputy secretary of state, one of the sources added, with Bolton handling day-to-day management of the department.
  • BRICS to share tax information
    Tax officials representing BRICS countries have reiterated their pledge to automatically share tax information between them. At the conclusion of their two-day meeting in Mumbai, India, heads of revenue said this efforts would pave the way for the adoption of global standards to tax transparency which would strengthen their efforts against tax evasion. They also said that they wanted to implement the standards used by the Organization for Economic Co-operation and Development and the G20 on Automatic Exchange of Information. “We recognise the importance of the exchange of information between competent authorities in preventing cross- border tax evasion and we resolve to exchange information, both on request and on automatic basis, and to adopt global standards on tax transparency,” said the communique issued after the meeting.
  • China, Egypt sign $2.6 bln currency-swap deal
    Egypt and China have signed on Tuesday a currency-swap deal worth about $2.6 billion, a move aimed at bolstering economic activities in the cash-strapped North African nation. The deal is worth 18 million yuan and will last three years, with a possibility for extension upon agreement of both sides, Egypt’s Central Bank said in a statement. “The currency swap is a mutually beneficial arrangement between both countries, and mirrored China’s support for the Egyptian economic reform program,” the statement read. The deal allows the central banks of both countries to exchange payments in one currency for equivalent amounts in the other which will facilitate bilateral trade settlements and provide liquidity support to financial markets. China has carried out swaps with more than 30 central banks around the world to increase the use of the yuan as a global reserve currency and to stimulate bilateral trade, Reuters reports.
  • Why Time’s Trump Cover Is a Subversive Work of Political Art
    Time Magazine’s annual “Person of the Year” announcement is, year after year, grossly misunderstood. Time Magazine is clear on its sole criterion – “the person who had the greatest influence, for better or worse, on the events of the year” – yet, do a simple search on Twitter and you will find countless people who seem to think that the “Person of the Year” selection is tantamount to an endorsement. Previous winners have included Joseph Stalin (1939, 1942), Ayatollah Khomeini (1979), Adolf Hitler (1938), and other figures who I think it is safe to assume the Time staff does not endorse. This year, it should come as no surprise that President-elect Donald Trump was chosen to grace the cover of Time’s annual issue (shot by Jewish photographer Nadav Kander). “For better or worse,” Trump, during his campaign and now after his election, has certainly been among the greatest influences on the events of the year. For clues as to how Time feels about that question — is it “for better or worse?” — we can look to the image chosen for the cover of the issue. The decisions that Time made regarding how to photograph Trump reveal a layered, nuanced field of references that place the image among, in this viewer’s opinion, the magazine’s greatest covers.
  • Are We Being Set Up For A Crash? Stocks Hit A Level Only Seen During The Bubbles Of 1929, 2000 And 2007
    Will the financial bubble that has been rapidly growing ever since Donald Trump won the election suddenly be popped once he takes office?  Could it be possible that we are being set up for a horrible financial crash that he will ultimately be blamed for?  Yesterday, I shared my thoughts on the incredible euphoria that we have seen since Donald Trump’s surprise victory on November 8th.  The U.S. dollar has been surging, companies are announcing that they are bringing jobs back to the U.S., and we are witnessing perhaps the greatest post-election stock market rally in Wall Street history.  In fact, the Dow, the Nasdaq and the S&P 500 all set new all-time record highs again on Thursday.  What we are seeing is absolutely unprecedented, and many believe that the good times will continue to roll as we head into 2017. What has been most surprising to me is how well the stocks of the big Wall Street banks have been doing.  It is no secret that those banks poured a tremendous amount of money into Hillary Clinton’s campaign, and Donald Trump had some tough things to say about them leading up to election day.
  • ‘It Is Like A Nuclear Bomb Went Off In The Prepping Community’
    Is the prepper movement in the United States dying?  At one time it was estimated that there were 3 million preppers in the United States, but in late 2016 interest in prepping has hit a multi-year low.  The big reason for this, of course, is that the election of Donald Trump has fueled a tremendous wave of optimism among those that consider themselves to be conservatives, patriots and evangelical Christians.  Not since the election of Ronald Reagan has the mood on the right shifted in such a positive direction so suddenly.  But now that everyone is feeling so good about things, very few people still seem interested in prepping for hard times ahead.  In fact, it is like a nuclear bomb went off in the prepping community. As the publisher of The Economic Collapse Blog, I am in contact with a lot of people that serve the prepping community.  And I can tell you that sales of emergency food and supplies have been crashing since Donald Trump’s surprise election victory.  Firms that help people relocate outside of the United States have seen business really dry up, and I know of one high profile individual that has actually decided to move back to the country after Trump’s victory.  It is almost as if the apocalypse has been canceled and the future history of the U.S. has been rewritten with a much happier ending.
  • Trump’s Infrastructure Spending Plan Might Be For Real
    We saw an example of this polarity Tuesday morning when Trump took a shot at Boeing, tweeting to his nearly 17 million Twitter followers that the jet-manufacturer “is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!” When journalists sought clarification, Trump said he wants Boeing to make money, “but not that much money.” As the Wall Street Journal pointed out, the current Air Force One has been in use for 30 years—since Ronald Reagan’s administration—and includes many cutting-edge modifications for communications and defense. It’s designed to withstand a nuclear blast. For the value we get out of the president’s main ride, in other words, the exorbinant sticker price might not be so exorbinant as it initially appears.
  • Thank You, President Obama
    Many people are alarmed and concerned that president-elect Donald Trump will undo and dismantle all of President Obama’s accomplishments and hard-won achievements that have benefited the American people for some eight years now. I think, therefore, we ought to recognize and applaud these accomplishments so that we do not forget them or so lightly discard them. President Obama’s great endeavor to bring democracy to Syria has resulted in a catastrophic war that has cost hundreds of thousands of lives. Lest you think this a small feat, bear in mind it took nearly a decade for the Iran-Iraq War to rack up that death toll over almost a decade of scorpions-in-a-bottle fighting. Of course, President Obama can also be congratulated for helping to launch a war that will certainly be more than a mere legacy from his administration. No, a war like this is one parent can be proud to hand down to their children, just like the war in Afghanistan which will probably be left in the will for the next generation to fight in it.
  • US provoking China into nuclear war? RT to air new Pilger documentary
    Nuclear war is no longer unthinkable as it may be provoked by a US military build-up in the Pacific, clearly aimed at confronting Beijing, John Pilger says in his new documentary ‘The Coming War on China’, set to be aired on rt.com and the RTD channel. According to the BAFTA-winning journalist and filmmaker, mainstream media reports of Beijing’s ambitious expansion and reclaiming of land in the South China Sea is in fact a response to US military activity around its borders. US President Barack Obama’s pivot to Asia in 2011 has resulted in the construction of 400 American bases, including in Guam, elsewhere in the South China Sea, South Korea and Japan – thereby encircling China.
  • ECB extends bond-buying scheme but at slower pace
    The European Central Bank has said it will extend its bond-buying programme until at least December 2017, but cut its purchases by €20bn a month. The €80bn-a-month quantitative easing scheme had been due to end in March, although the bank had been expected to extend it for at least six months. In a move that surprised markets, the ECB said it would only buy bonds worth €60bn a month from April. The bank also kept its key interest rate unchanged at zero as expected. Yields on most eurozone government bond yields rose slightly after the changes were announced, before returning to levels hit just before the statement.
  • Universities Strive for Diversity in Everything but Opinion
    My seminar students at McGill University told me that you can't say anything at this university without being accused of being sexist, homophobic, Islamophobic, fascist, or racist, and then being threatened with punitive measures. They felt silenced by the oppressive atmosphere of political correctness. Nothing significant — sex, religion, relationships, public policy, race, immigration, or multiculturalism — could be discussed. Only the acceptable opinions could be expressed without nasty repercussions. It is generally held today in the West, if not elsewhere, that diversity is a good thing. Diversity in origin, ethnicity, gender, race, and sexual preference is now regarded as not only desirable, but mandatory. Universities strive to increase their physical diversity. The currently accepted theory in Western academia is that physical diversity reflects diversity of experience and thus an enriching diversity of viewpoint.
  • Monte dei Paschi shares plunge on ECB reports
    Shares in Italy's Monte dei Paschi di Siena bank have fallen following reports that the European Central Bank has rejected a request to give it more time to raise cash. Monte dei Paschi had sought a three-week extension until 20 January to seal a private sector €5bn rescue plan. If the ECB does deny the request, the Italian government will be under more pressure to bail out the country's third-largest bank. The ECB declined to comment.
  • Trump ignores Gore’s advice, instead picks skeptic to head EPA & dismantle climate agenda
    Climate Depot’s publisher Marc Morano statement on President Elect Donald Trump’s selection of Oklahoma Attorney General Scott Pruitt pick for EPA chief: “President-Elect Trump’s appointment of Scott Pruitt is a breath of fresh air. No longer do we have to suffer under President Obama’s ridiculous EPA ‘climate’ regulations. It is also refreshing that a Republican President is not throwing the EPA over to the green activists and the media by appointing a weak administrator. Christine Todd Whitman he is not! See: Bravo! Trump appoints ‘a fierce critic of the EPA’ — to head EPA! & Cheers! Trump picks leading EPA critic to head agency & NYT: ‘Trump Picks Scott Pruitt, Climate Change Denialist, to Lead EPA‘ & Wash Post: Trump names Scott Pruitt, Oklahoma AG suing EPA on climate change. Trump’s pick of Pruitt finally means that a Republican President is standing up the green establishment! Historically, EPA chiefs have been among the most pro regulatory members of past Republican presidents from Nixon through Ford, Reagan and both Bushes. Trump has broken the cycle!
  • Fresh survival fears for world's oldest bank
    Monte dei Paschi di Siena's shares have plunged in Milan amid renewed fears for its future – sparking a wider sell-off in the country's troubled banking sector. Trading in shares of the world's oldest bank was temporarily suspended by the Italian stock exchange after the price fell 11% following a news agency report that the European Central Bank had refused it a lifeline. Reuters, citing a banking source, said that the ECB had denied its request for two more weeks to find €5bn from investors to keep it afloat.
  • National Grid nets £3.6bn in gas stake sale
    A team of international investors, including the Chinese state, is to take a majority stake in National Grid's gas pipeline business. The UK's power network operator confirmed it was offloading a 61% holding to a consortium led by Australian investment bank Macquarie and it was to net £3.6bn in cash as a result and a further £1.8bn in debt financing. The deal values the division – which has 82,000 miles of pipeline delivering gas to 11 million UK homes and businesses – at almost £14bn when debt is excluded.
  • HSBC, JPMorgan and Crédit Agricole fined €485m by EU
    A five-year investigation by competition authorities in Brussels into rigging of interest rates drew to a close Wednesday when three major banks – including HSBC – were fined €485m (£412m) for colluding to manipulate a crucial benchmark rate. The three banks, which also included JP Morgan Chase and Crédit Agricole, did not agree to earlier the settlement involving a seven-bank cartel over the setting of the interest rate known as Euribor. JP Morgan was fined €337m, HSBC €33m and Crédit Agricole €114m. The levels were set on the time they participated in the cartel and the value of products involved.
  • Trump: I Sold All Of My Stocks Back In June
    From Tyler Durden: Following today’s tweet and follow up suggesting that Trump is now targeting Boeing’s contract pricing practices, questions emerged whether the President-elect wasn’t engaging in a conflict of interest due to his numerous, existing shareholdings. However, according to Trump spokesman Jason Miller, Donald Trump sold all of his stockholdings in June, removing himself from positions in numerous U.S. companies. Miller made the revelation during a phone call with reporters on Tuesday morning. He was asked about Mr. Trump’s past holdings in Boeing Co., a company the president-elect had criticized earlier in the day for what he alleged were high costs for the next Air Force One, the WSJ reported. “The President-elect sold all of his stock back in June,” Miller said. He subsequently clarified he was referring broadly to all of Mr. Trump’s stock, not Boeing specifically.
  • Protectionist Trump Policies To Crash Dollar, Gold and Bitcoin to Soar
    Many people seem to think Trump is going to “fix” the US by invoking the isolationist, nationalist, and oft failed economic policy of protectionism. But, as Ludwig von Mises put it in Nation, State and Economy, “From the purely economic point of view nothing speaks against free trade and everything against protectionism.” In other words, there is no economic argument in favor of protectionism. It is not a viable economic policy. Any basic economics class will inform you that protectionism is the opposite of free trade and the opposite of the harmony of nations. “The philosophy of protectionism is a philosophy of war. The wars of our age are not at variance with popular economic doctrines; they are, on the contrary, the inescapable result of consistent application of these doctrines.” Mises said. There is no fixity in that direction. Trump’s protectionist policies are sure to fail!
  • Get Used to Lousy Growth AND Rising Rates: Fed Dove Dudley
    For the year 2016, economic growth is expected to be a miserably slow 1.6%, according to a survey of “professional forecasters,” released today by the National Association for Business Economics (NABE). For next year, the forecasters are more optimistic, but it’s the same lousy optimism that would have been considered rampant pessimism before the Financial Crisis. They lowered their forecasts to 2.2% growth for next year. And as they nearly always do as they get closer to reality, they’ll likely lower that forecast again and again.
  • Panic Time?…Washington Post Walks Back its ‘Fake News' Claim 
    Wow! It was so great to hear back from so many of you when I asked what we should do about the Washington Post's scurrilous and defamatory article claiming that the Ron Paul Institute — along with other major sites such as Drudge, ZeroHedge, David Stockman's Contra Corner, Counterpunch, and others — were actually tools of the Kremlin whose secret mission is to undermine Americans' faith in the democratic process. Funny, most of us would agree that it's the Washington Post and the rest of the “mainstream” media that are engaged in “fake news” propaganda on the behalf of government entities. They are the real threat to our peace and prosperity!
  • Trump Sets Stage for Huge Gold Rally in 2017
    Global political tensions have not been this palpable since 9/11, when gold prices jumped 32.87% in a single day, and the amount of uncertainty being ushered in for 2017 promises to be great for the precious metal—our age-hold hedge against chaos and instability. For a fully-funded junior gold miner backed by heavy hitters in one of the world’s hottest venues–Fiore Exploration Ltd (TSXV–F.V) the timing is excellent, the production costs appealing, and the future golden. What we have right now is a situation in which gold prices are stable, but mining and exploration, which has been all but halted, is very cheap, leaving all kinds of plays up for grabs.
  • Trump To Name CEO Of Fast Food Restaurants As Labor Secretary
    Considering that during the Obama administration, the only job category that has performed remarkably well has been fast food workers, waiters and bartenders, a category which has added 571,000 jobs since 2014 as the US has lost 34,000 manufacturing workers in the same period… it is perhaps fitting that the next Labor Secretary will be the CEO of fast food chains. According to the WSJ, Donald Trump is set to name fast-food executive Andy Puzder as labor secretary. Puzder is the chief executive of CKE Restaurants Holdings, the parent company of the Carl’s Jr. and Hardee’s burger chains, and has been a vocal advocate for cutting back regulations he says have stifled growth in the restaurant industry, which represents 10% of the American workforce.
  • Stocks Haven’t Been This Expensive Since 1929
    Careful not send the investing into a panic, Robert Shiller appeared on CNBC this morning to explain just how insane the valuation levels of the market are currently. I hate to rain on this parade. But the latest lurch upwards in stock prices has just taken market valuations up into the skybox levels, according to the market timing measure with the longest pedigree on Wall Street. It’s just gone from flashing amber to flashing red – meaning, if it’s right, that there is now a significant and rising risk of a crash, and a bigger risk of simply very poor returns. This has little to do with President-elect Donald Trump, by the way — and much more to do with President Ulysses S. Grant and all his successors.
  • War On The Homeless: Cities All Over America Are Passing Laws Making It Illegal To Feed And Shelter Those In Need
    If you want to be a “Good Samaritan” to the homeless in your community, you might want to check and see if it is legal first.  All over the country, cities are passing laws that make it illegal to feed and shelter the homeless.  For example, in this article you will read about a church in Maryland that was just fined $12,000 for simply allowing homeless people to sleep outside the church at night.  This backlash against homeless people comes at a time when homelessness in America is absolutely exploding.  In a previous article, I shared with my readers the fact that the number of homeless people in New York City has just set a brand new all-time high, and the homelessness crisis in California has become so severe that the L.A. City Council has formally asked Governor Jerry Brown to declare a state of emergency.  Sadly, instead of opening up our hearts to the rapidly growing number of Americans without a home, way too many communities are trying to use the law to force them to go somewhere else.
  • CRACKS IN THE BOND MARKET – Jim Willie Warns US Debt Default DEAD AHEAD
    Foreign USTreasury Bond dumping continues, and even accelerates. China and the Saudis are selling USTreasurys in a NEAR PANIC. The USGovt debt default is within view, DEAD AHEAD: Foreign USTreasury Bond dumping continues, and even accelerates. China and the Saudis are selling USTreasurys in a near panic. Foreign central banks liquidated a record $375 billion in USGovt debt in the last 12 months. An American disaster lies in the making from debt saturation, debt overload, and debt dumping. It is all denied by the Washington mouthpieces and the Wall Street handlers, as they lie. The USGovt debt default is within view, dead ahead. One month ago in October tally, the USFed update of Treasurys held in custody revealed a frightening picture of foreign sales, big sales, even accelerated sales. The total amount of custodial paper had fallen to $2.805 trillion, the lowest since 2012. One month later, foreign central banks continued their relentless liquidation of US debt paper, as measured by the same custody account.
  • Paul Craig Roberts – The Matrix Of Lies And What The Elite Are Really Up To Is Terrifying
    Today former U.S. Treasury Secretary, Dr. Paul Craig Roberts, warned about the Matrix of lies and exposed what the elite are doing to keep the unsuspecting public in the dark. (King World News) Dr. Paul Craig Roberts:  The presstitute media delivered the false news, not from Russian propaganda websites such as the Washington Post accuses this one of being, but from Obama’s US Bureau of Labor Statistics. The false news is that the collapsing economy continues to boom with 178,000 new jobs in November and a further fall in the rate of unemployment to 4.6%…
  • Pastor Lindsey Williams introduces Pastor David Bowen – December 8, 2016
    Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.

Precious Metals Are The Only Lifeboat! I have persistently WARNED you what was happening in the gold market and why you needed to convert your paper assets to physical gold and silver by the middle of September 2015. You need to hedge against the financial instability with physical gold and silver. Call the experts to help you convert your IRA or 401k into Gold, Silver and Other Precious Metals. Call Regal Assets NOW before it's too late! Call Toll-Free 1-888-748-6766.

 


Elite: What Next? Trump Has Won! – A New DVD From Pastor Lindsey Williams


Click Play to Watch the Trailer for Chaplain Williams' Latest DVD


 

 


 ELITE: WHAT NEXT?
…TRUMP HAS WON!
New DVD From Lindsey Williams
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Available for shipment now!*

  • Why did Henry Kissinger go to Trump Tower to meet with Donald Trump?

  • Elite total devastation.

  • The greatest opportunity of your life time.

  • How to take advantage of the Elite.

  • Isaiah 45:1 – Cyrus.

  • Revised Agenda of the New World Order.

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– Author of The Energy Non-Crisis


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Pastor Lindsey Williams introduces Pastor David Bowen – December 8, 2016

Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter. If you are not a subscriber please subscribe for free by entering your name and email address in the box below.

Pastor David Bowen is pastor of Standing Stones Community Church in Phoenix, AZ. For more information about Pastor Dave please visit http://standingstonescc.org/

Pastor Dave is also creator of the website Interpreting The Times, understanding world events through scripture. You can find out more by visiting http://www.interpretingthetimes.com/

Please leave your thoughts and comments below regarding this new addition to Pastor Williams' newsletter each week.

Latest News Articles – December 8, 2016

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.

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Lindsey Williams - Latest News Articles

Latest News From December 2, 2016 to December 8, 2016:

  • ALERT: Gerald Celente Just Released The Top 10 Trends For 2017 And They Will Surprise You
    As we come to the end of what has been a wild trading year, here are Gerald Celente’s just released top 10 trends for 2017. Top 10 Trends For 2017. (King World News) Gerald Celente — Forecasting worldwide since 1980, never before have we observed so many key socioeconomic and geopolitical trend dynamics as those that will shape 2017 and beyond for both better and for worse… From Americans electing Donald Trump president – the darkest of dark-horse candidates whom the Trends Journal® was the first publication to forecast as winner (Trends Journal, May 2016) – to economic, financial, entertainment, technological and pop-culture mega-trends that will shape 2017, your audience and you will be ready to ride the waves and survive the dives ahead by knowing how to profit from this new-world trend order.
  • Massive Dollar Selling Ahead-John Williams
    Economist John Williams has been forecasting a dollar selloff for a few years. It now looks like the manipulators are running out of options to keep propping up the U.S. dollar.  Williams explains, “I think we are going to see massive dollar selling ahead.  We have problems here not just with the economy, but you have the Fed faced with a circumstance where the U.S. banking system and the global banking system was threatened with collapse in the panic of 2008.  The Fed and the Treasury decided they did not want the system to collapse. . . . All they did was buy time.  Now, that time has basically run out.  The economy has not turned around.”
  • It’s Not Over: Rogue Republican Elector Announces He Will Not Vote For Trump And Urges Others To Join Him
    Donald Trump has already lost one of his electoral votes, and there are indications that a number of additional electors may be prepared to abandon him.  Prior to the election, I warned my readers that we would not officially know who the next president would be until December 19th.  On that Monday, the 538 members of the Electoral College will gather in their state capitals in all 50 states to formally elect the next president.  Throughout U.S. history electors have voted according to the will of the people more than 99 percent of the time, but in 2016 there is a concerted effort to persuade Republican electors not to vote for Trump.  If 37 Republican electors can be convinced to vote for someone other than Trump, that would keep Trump under the 270 vote threshold needed to win and it would throw the election into the House of Representatives.  Most people had considered this to be a longshot, but on Monday a Republican elector named Christopher Suprun publicly announced in the New York Times that he will not cast his vote for Donald Trump.  On the other side, there are at least 8 Democratic electors that have already publicly pledged to switch their votes from Hillary Clinton to a compromise Republican alternative to Trump.
  • Proof That The Elite Really Do Want A Global Society With No Possessions, No Privacy And No Freedom
    If you listen closely, the global elite are telling us exactly what they intend to do. If they get their way, our world is going to look vastly different than it does now in the not too distant future. These elitists share a dream of an environmentally-friendly dystopian socialist paradise in which individual freedom is severely restricted for the good of the collective. Where you live, what you do for a living, what you are allowed to eat and how many children you are permitted to have would all be determined by an all-powerful central government that nobody would question or challenge. This may sound very bizarre to you, but the global elite really do dream of these things. A perfect example of what I am talking about is an article that recently appeared on the official website of the World Economic Forum entitled “Welcome to 2030. I own nothing, have no privacy, and life has never been better“. It was authored by a member of parliament in Denmark named Ida Auken, and as you can see she is quite convinced that we can achieve this type of society by the year 2030…
  • Robots to steal 15million of your jobs, says bank chief: Doom-laden Carney warns middle classes will be ‘hollowed out' by new technology
    Robots could put 15million Britons out of work, the Bank of England Governor declared last night. In an alarming vision for workers, Mark Carney warned many jobs would be ‘hollowed out' as huge technological advances meant roles could be automated instead. The Bank has said the march of the machines in the workplace puts administrative, clerical and production staff most under threat. And it has even predicted that entire professions, such as accountancy, could be pushed to the brink of extinction as developments in computers make their roles redundant.
  • GOP Readies Cuts to Federal Workforce Under Trump
    For years, Republicans in Congress have been eyeing an overhaul of the federal workforce — by reducing the number of workers and curtailing benefits and pay while making it easier to fire bad employees. Now, with a president-elect who has promised to do much the same, 2017 could be the best time in recent memory to make sweeping changes affecting those who work for the bureaucracy. One major plan is being readied by Rep. Jason Chaffetz, the chairman of the House Oversight and Government Reform Committee. The Utah Republican calls it “high on our agenda.” While details remain sketchy, it would likely mean big changes to the generous retirement benefits given federal workers, mainly by looking to shift new employees from a defined benefit into a market-based 401(k).
  • Eurozone Inflation Rate Highest Since April 2014
    The eurozone’s annual rate of inflation rose to its highest level since early 2014 during November, but remained far short of the European Central Bank’s target as policy makers prepare for a Dec. 8 meeting at which they will decide whether to extend a bond buying program due to expire in March. The European Union’s statistics agency Wednesday said consumer prices in the eurozone were 0.6% higher in November than a year earlier, a pickup in the annual rate of inflation from 0.5% in October and its highest level since April 2014.
  • Multiple Jobholders Hit New All Time High As Part-Time Jobs Soar
    While today's headline jobs number was essentially Goldilocks, with the payrolls print missing the expected print of 180K by just 2,000 jobs, it was accompanied by a plunge in the unemployment rate to 9 year lows as a result of a jump in the number of people leaving the labor force, and rising to a new all time high of over 95 million. But while the quantitative headline aspect is open to interpretation, the qualitative component of the November jobs print was – just like in the case of October – quite clear: it was ugly, again. Recall that in October, the Household Survey revealed that the number of full-time workers tumbled by 103,000 as part-time workers jumped by 90,000. The trend continued in November, when another 118,000 part-time jobs were added, paired with a far more modest 9,000 increase in full -time jobs.
  • Gold Prices Expected to Move Up With Sharia Law Revisions
    Since it was first proposed last April, trading gold as a commodity within Islamic finance is now a reality. The pro-gold law was first adopted on November 19 by the Accounting and Auditing Organization for Islamic Financial Institutions, which sets Sharia Law standards for finance groups. Historically, Islamic investments have been guided by Sharia Law, which prohibits financial practices like earning and paying interest on loans. It also outlines requirements for the exchange of commodities like gold and silver. Islamic law sees gold as a substance sold by its weight and measures; a commodity that must be immediately exchanged in equal amounts. These types of substances are called Ribawi, and traditionally include silver, dates, wheat, salt, and barley. Therefore, the idea of using precious metals as an investment vehicle or as wealth retention is new.
  • Obama administration fails to check immigrants against FBI databases, approves citizenship
    Some 175 immigrants were approved for citizenship even though their names weren’t properly run through the FBI’s name-check databases, potentially missing red flags that may have disqualified them from naturalization, the Obama administration admitted this weekend. Homeland Security officials blamed computer code for the problem, which affected about 15,000 applications in total. The problem was significant enough that the government halted all naturalization ceremonies already in the pipeline and banned U.S. Citizenship and Immigration Services officers from approving new citizenship applications beginning on Nov. 29, when officials acknowledged the problem in an internal email that was later obtained by House Judiciary Committee Chairman Bob Goodlatte.
  • How Trump’s Calls to World Leaders Are Upsetting Decades of Diplomacy
    President-elect Donald J. Trump has broken with decades of diplomatic practice in freewheeling calls with foreign leaders. The call with President Tsai Ing-wen risks infuriating China, which wants to bring Taiwan back under mainland rule. By honoring the Taiwanese president with a formal call, Mr. Trump’s transition team implicitly suggests that it considers Taiwan an independent state. The U.S. has declined to recognize Taiwan since 1979, when it shifted recognition to the government in Beijing. Taiwan itself has yet to declare formal independence. Mr. Trump tweeted, “The President of Taiwan CALLED ME today to wish me congratulations on winning the Presidency.”
  • Kissinger and Brzezinski to Be Honoured by Nobel Institute and Oslo University
    These two top officials behind major US wars (Iran/Afghanistan and Vietnam/Cambodia/Laos) and regime change (against Allende, Chile) will speak at the first of a new event, The Nobel Peace Prize Forum Oslo, created by the Nobel Institute in Oslo. More here. The leaders of the two institutions declare that they are proud to have succeeded in getting these two diplomats to Norway – and the media of course will be there. The event is sponsored by the California-based company InCircl – a marketing and mobile payment company.
  • Here Are The Biggest “Post-Trump” Market Risks According To Bank of America
    As BofA's rates strategist Ralf Preusser writes in a note this morning, “not even a month since the US election and markets seem unrecognizable” adding that the Trump election represented a paradigm shift. Fiscal easing would take over from monetary easing and would allow for the dollar and rates to rise in unison, a trend not seen for a while. The bank notes that whilst the direction of the moves since the election is in line with its expectations and forecasts, “the speed has come as a surprise.” and while fundamentally the repricing has further to go, especially in light of OPEC’s decision to end the price war within the cartel, there are red flags emerging among which vulnerability of EMs, and the reaction function of the PBOC, while warning that investors should not forget that premature tapering by the ECB risks exposing  the Euro area’s fault lines again.
  • 20 Years Later, Greenspan's “Irrational Exuberance” Has Become Even More Irrational
    20 years, to the day, after Greenspan's iconic speech that warned of the unintended consequences of “irrational exuberance,” we find ourselves, yet again, in the midst of perhaps the largest asset bubble in history.  In fact, Greenspan's warning, previously made in a speech on Dec. 5, 1996, eerily reflects many of the same concerns surrounding the market today with low interest rates and lower risk premiums driving an unprecedented equity bubble. “Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.  But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?” Of course, since Greenspan's initial warning in 1995 U.S. equity markets have bubbled up and crashed twice.  Now, with the broader indices up 500-600%, one has to wonder whether “irrational exuberance” has once again “unduly escalated asset values.”
  • As Dakota Celebrates, Trump Advisors Propose Privatizing Oil-Rich Indian Reservations
    With celebrations continuing at the site of the Dakota Access Pipeline protest (following the “Monumental victory” following the Obama administration's decision not to grant the construction permit), it appears the Trump administration has very different ideas. Having confirmed Trump's support for the pipeline (not to do with his investments), Reuters reports a Trump advisory group proposes the politically explosive idea of putting oil-rich Indian reservation lands into provate ownership.
  • Don’t Believe The Propaganda, China’s Rise Will Be The Big Shocker In 2017
    Despite propaganda to the contrary, China’s rise will be the big story in 2017. Stephen Leeb:  “Gold is back in business and barring some unforeseen event should soon resume its uptrend. As I recently argued, anything bringing oil to the dance would do the trick, and OPEC’s agreement to cut production fits the bill. Rumors circulating midweek that China planned to limit gold imports don’t alter this conclusion. They likely indicate an effort either to eliminate arbitrage (stemming from the fact that gold in China trades at a 10 percent premium to gold traded in the West) or talk gold down. China’s thinking on gold hasn’t changed, and the case for a near fantastical bull market in the monetary metal has moved closer…
  • A Devastating Collapse Looms As India Sees The Price Of Gold Selling At A Jaw-Dropping $1,600 – $3,000
    With interest rates soaring, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, warned King World News that a devastating collapse looms as India sees the price of gold selling at a jaw-dropping $1,600 – $3,000. The Road To Global Collapse. Egon von Greyerz:  “Today the Die Is Cast for Europe and the EU. This is what Caesar said when he crossed the Rubicon in 49 BC marching towards Rome, leading to a major change in Europe’s history. The Italian referendum taking place today (December 4) has a similar significance. The Brexit vote, in which Britain decided to divorce from the EU, started the breakup of the artificial construction of 500 million people being ruled by an unelected and unaccountable elite in Brussels. Even worse is an artificial paper currency, the euro, which is used by 19 out of the 28 EU countries. All paper currencies are of course artificial constructions that eventually become worthless, but to have a currency for 19 countries with different cultures, different growth rates and productivity and vastly different inflation rates is a total disaster…
  • What The Italian Vote Really Means And Why Commodities Are Set To Continue To Surge
    On the heels of Italy’s no vote and Renzi’s resignation, this is what the Italian vote really means and why commodities are set to continue to surge. Here is what Peter Boockvar wrote today as the world awaits the next round of monetary madness:  The Italians didn’t vote anti establishment I believe, they voted to keep the same sclerotic system in place. What a huge missed opportunity. Does this spell the end of the Euro experiment? Are we a step closer to a breakup? Maybe and I’ve heard all the scare stories but I still don’t believe it irrespective of the referendum outcome as the majority of Europeans still want it. Austria did not vote for the anti euro candidate and France may, and I emphasize may, elect a pro business President next year. This all said, if regulatory, labor and tax reforms don’t take shape in many European countries that have excessive debt levels and pathetic growth, then anything is possible…
  • Alleged “Consensus on Climate Change” Is Actually Only 75 Hand-Picked US Scientists
    Considering that we're living in a time when news outlets on both sides of the political spectrum are screaming “fake news” about anything and everything written or said by anyone other than themselves,  this article and the video before it will come as fantastic news for anyone looking to retire their status as a “climate denier” for good. If the whole “climate change” debate wasn’t so dishonest, so corrupt, and so fraudulent, once you finally find out where the numbers liberals have been throwing at you for years actually come from, you'd probably die of laughter. Unfortunately, when you consider how many hard working Americans Al Gore must have stolen from to become a billionaire based on a perpetual lie, it becomes less funny.
  • Italy's Monte Paschi Told To “Prepare For State Bailout”
    On Sunday night, when we commented on the results of the Italian referendum, we said that while the Italian political limbo may or may not be an issue in the near term, a bigger problem for Italy will be the fate of Monte Paschi, whose 3rd bailout was likely doomed to failure after the failed referendum, which could unleash contagion upon the Italian banking sector at a very precarious time for Italy and Europe. Overnight, we got confirmation of that from not one but two sources, with Italian Il Sole 24 reporting that the Italian treasury is considering “precautionary” direct state intervention to rescue the bank, a plan that has already been sketched out by Rome and Brussels. The lender’s executives are meeting with European Central Bank officials today and may ask for a delay to a non-performing loan sale that’s part of the bank’s capital increase plan, the newspaper said. In an interview with Bloomberg TV, Marcello Messori, economics professor at Luiss University said that “the probability of finding a natural market solution is very very low currently, due to the fact that instability implies that international investors have a lot of difficulties to decide in the short term for a very important recapitalization” and added that the ECB may give more time “if there is a solution on the horizon.”
  • Jim Rogers Reports on the Nation on Fire that Trump Will Inherit in January
    In the following video, the RT network interviews Jim Rogers and several other members of a round table discussion over what the network refers to as “Trump-Lash.” Jim Rogers is of course, the international investor and co-founder with George Soros of the legendary Quantum Fund, from which Rogers retired from at age 37 because the Quantum fund was pumping out returns as high as 1,600%. One of the topics the round table discusses, is the recent surge in U.S. equity markets, and how those recent surges could ultimately come back later and make the impending collapse that much worse, however then again, they may not. Right now, we just don’t know, and markets can only handle so much uncertainty before the wheels begin coming off… The point the gentleman at the table make, is that the U.S. economy is in shambles, and nothing Trump or any other president will decide to do will ever be enough to prevent the long term devastation that lies ahead. In the short term, what happens is anyone’s guess.
  • Global Financial Markets Plunged Into Chaos As Italy Overwhelmingly Votes ‘No’
    Italian voters have embraced the global trend of rejecting the established world order, but the “no” vote on Sunday has plunged global financial markets into a state of utter chaos.  The euro has already fallen to a 20 month low, Italian government bonds are poised for a tremendous crash, and futures markets are indicating that both U.S. and European stock markets will be way down when they open on Monday.  It is being projected that Italian Prime Minister Matteo Renzi’s referendum on constitutional reforms will be defeated by about 20 percentage points when all the votes have been counted, and Renzi has already announced that he plans to resign as a result.  When new elections are held it looks like comedian Beppe Grillo’s Five-Star movement will come to power, and the European establishment is extremely alarmed at that prospect because Grillo wants to take Italy out of the eurozone.  In the long run Italy would be much better off without the euro, but in the short-term the only thing propping up Italy’s failing banking system is support from Europe.  Without that support, the 8th largest economy on the entire planet would already be in the midst of an unprecedented financial crisis.
  • The United Nations General Assembly Passes 6 Outrageous Anti-Israel Resolutions
    Last Wednesday, the UN General Assembly overwhelmingly voted to adopt 6 outrageous anti-Israel resolutions. These resolutions address a wide variety of issues including “a two state solution”, the status of the Golan Heights and a “lasting solution to the question of the City of Jerusalem”. Unlike UN Security Council resolutions, these UN General Assembly resolutions are not considered to be legally binding upon the parties, but they do show that virtually the entire planet is in favor of dividing the land of Israel and the city of Jerusalem. In addition, even though the U.S. voted against each of these resolutions, there is still a tremendous amount of buzz that the Obama administration may decide to go along with a UN Security Council resolution that would set the parameters for a “two state solution” before the end of Barack Obama’s term comes on January 20th. I have not seen a single mainstream news article about these UN General Assembly resolutions that were just passed. The only way that I learned about them is because someone sent me a link to an announcement on the official UN website. In this article I want to share with you some extended excerpts from that announcement so that you can see for yourself exactly how the UN feels about Israel.
  • Wall Street’s Goldman Sachs Is Big Winner In Trump Election Victory
    During the Democratic primary, Bernie Sanders demanded that Hillary Clinton release transcripts of speeches she made to Wall Street’s top banks, including Goldman Sachs. Her detractors claimed that a Clinton nomination as the democratic presidential candidate would be a win for Wall Street. While Donald Trump was campaigning he promised to “drain the swamp” in Washington, District of Criminals (DC) – by avoiding placing either lobbyists or Wall Street pros in positions of political power. Boy, how time flies! Yesterday’s certainties are certainly not today’s realities. Trump’s cabinet appointments are nestled firmly in the conservative wing of the Republican Party.
  • These Were Supposed To Be Hillary’s Numbers!
    Good headlines just keep coming. The Chicago PMI index of Midwest economic activity jumps to its highest level in two years. The ADP employment report shows 216,000 new jobs added in November. US Q2 GDP growth is upgraded to a completely acceptable rate of 3.2%. Very nice numbers all. And – had the election gone a different way – a big help in easing the transition from one Democrat administration to another. Success breeding success. But a different number explains this apparently-accelerating expansion: US federal debt, which after growing by only $330 billion in 2015 soared by $1.38 trillion this year. For more on why this happened, see Another Election Year, Another Bunch Of Fake Growth Numbers. But for now it’s enough to say that $1.3 trillion is a lot for the entire US economy to borrow in a single year. For the federal government alone to do so is huge, and probably accounts for much of the recent above-trend growth.
  • Chinese Developers Rethink U.S. Real Estate Projects: “I See Danger…U.S. Real Estate Is Peaking”
    For months we've been warning that real estate markets in NYC and San Francisco, among others, are getting ready to rollover as the market is about to be flooded with new supply of luxury apartments (see here and here).  Real estate in both markets are just starting to show signs of cracking as the apartments sales cycle is getting stretched out and pricing growth has stalled. Now, per an article from the Wall Street Journal, wealthy Chinese real estate investors are admitting that the jig is up in large cities like New York and are running for the hills.  With a substantial amount of capacity expected to come online over the next several quarters and a growth cycle that is entering its 8th year, one Chinese real estate investor admits “you get a sense now that it’s peaking.”
  • So THAT'S why he needs an army! EU's Juncker predicts WW3 after Italian referendum result
    JEAN-CLAUDE Juncker today used the result of the Italian referendum to predict that the rise of anti-EU parties will spark World War Three. The Brussels chief said that the disintegration of the euro project would herald a return to the “tragic history” of a Europe at war. In a series of sensationalist remarks he said the continent was living through “dangerous times” due to a rise in opposition to the EU. His remarks mirror those of ex-prime minister David Cameron, who was widely mocked for predicting that Brexit would cause a global conflict. Mr Juncker is currently behind a concerted push by Brussels to acquire its own army which is being vigorously opposed by Britain.
  • The Propaganda About Russian Propaganda
    In late October, I received an e-mail from “The PropOrNot Team,” which described itself as a “newly-formed independent team of computer scientists, statisticians, national security professionals, journalists and political activists, dedicated to identifying propaganda—particularly Russian propaganda targeting a U.S. audience.” PropOrNot said that it had identified two hundred Web sites that “qualify as Russian propaganda outlets.” The sites’ reach was wide—they are read by at least fifteen million Americans. PropOrNot said that it had “drafted a preliminary report about this for the office of Senator Ron Wyden (D-OR), and after reviewing our report they urged us to get in touch with you and see about making it a story.” Reporting on Internet phenomena, one learns to be wary of anonymous collectives freely offering the fruits of their research. I told PropOrNot that I was probably too busy to write a story, but I asked to see the report. In reply, PropOrNot asked me to put the group in touch with “folks at the NYTimes, WaPo, WSJ, and anyone else who you think would be interested.” Deep in the middle of another project, I never followed up.
  • “Fake News” Has Been a Problem for Thousands of Years … Here’s How to Stop It
    Throughout history, government officials have tried to stop “fake news” through various means. Socrates: For example, Socrates was killed in 399 BC for spreading “fake news”. His crime: “Failing to acknowledge the gods that the [mainstream media of the day] acknowledges”. William Tyndale: William Tyndale was killed in 1536 for spreading “fake news”. His crime:  Translating the Bible into English so that everyone could read it for themselves, and no longer had to rely on the clergy to tell them what it said.
  • The ‘Fake News’ Con: A Case Study
    The media have found a creative new way to explain away Hillary’s Clinton’s crushing defeat and their own humiliation. They have dubbed the agent of their mutual undoing “fake news” and talk about the phenomenon as though it made real sense. In an all too typical New York Times opinion piece this week Michael Lynch defines “fake news” as “pure fiction masquerading as truth” and presents it exclusively as a “right wing” phenomenon. Like many of his colleagues, Lynch suggests the Russian government was involved in planting fake news items and believes that such items, regardless of source, may have cost Hillary Clinton the election.
  • Trump’s Appointments — Paul Craig Roberts
    What do they mean? Before I give an explanation, let’s be sure we all know what an explanation is. An explanation is not a justification. The collapse of education in the US is so severe that many Americans, especially younger ones, cannot tell the difference between an explanation and a defense, justification, or apology for what they regard as a guilty person or party. If an explanation is not damning or sufficiently damning of what they want damned, the explanation is interpreted as an excuse for the object of their scorn. In America, reason and objective analysis have taken a backseat to emotion. We do not know what the appointments mean except, as Trump discovered once he confronted the task of forming a government, that there is no one but insiders to appoint. For the most part that is correct. Outsiders are a poor match for insiders who tend to eat them alive. Ronald Reagan’s California crew were a poor match for George H.W. Bush’s insiders. The Reagan part of the government had a hell of a time delivering results that Reagan wanted.
  • The Biggest Worry About 2017 Will Surprise You…
    The biggest worry about 2017 will surprise KWN readers around the world. Eric King:  “Bill, anything you want to say to people around the world about the outlook for 2017?” Bill Fleckenstein:  “I think the most important thing to keep in mind is how little we really know about what’s liable to happen next.  We’ve got a lot of wild cards.  And I think the uncertainty factor has to be much higher than it’s been in a very, very long time.  Look, I’m known as a bear, right?  But I’m really very optimistic and the reason I’m outlining the problems and I’m always talking about this is because we need a crisis to solve the problems.  And so I’m rooting for the crisis to hurry up and hit.  The longer we wait to fix things and the more we kick the can the road, the more impossible it is to fix the problems.  Or said differently, the more painful it will be and the longer it will take to fix the problems. We don’t want to end up like Greece…To continue listening to the powerful KWN audio interview where Fleckenstein discusses what surprises to expect in 2017, whether or not the gold smash is finally over, and much more.
  • ALERT: Is This The Most Important Chart Of 2016?
    As we kickoff trading in December, is this the most important chart of 2016? We see a 30+ year chart of 10-Year Treasury yields.  This chart encompasses the multi-decade bull market in bonds, but it also shows that it is in danger of coming to an end as Treasury yields on the 10-Year are now reaching the upper limit of the trend channel. If the 10-Year Treasury yields break decisively above the trend channel, it would definitely be waving a caution flag that the 30+ year bull market may indeed be coming to an end…
  • House Quietly Passes Bill Targeting “Russian Propaganda” Websites
    On November 30, one week after the Washington Post launched its witch hunt against “Russian propaganda fake news”, with 390 votes for, the House quietly passed “H.R. 6393, Intelligence Authorization Act for Fiscal Year 2017”, sponsored by California Republican Devin Nunes (whose third largest donor in 2016 is Google parent Alphabet, Inc), a bill which deals with a number of intelligence-related issues, including Russian propaganda, or what the government calls propaganda, and hints at a potential crackdown on “offenders.” A quick skim of the bill reveals “Title V—Matters relating to foreign countries”,  whose Section 501 calls for the government to “counter active measures by Russia to exert covert influence … carried out in  coordination with, or at the behest of, political leaders or the security services of the Russian Federation and the role of the Russian Federation has been hidden or not acknowledged publicly.”
  • The Shocking Truth About How Barack Obama Was Able To Prop Up The U.S. Economy
    Barack Obama is one of the biggest “Keynesians” of all time, but unfortunately most Americans don’t even understand what that means.  In this article, I am going to share with you the primary reason why Barack Obama has been able to prop up the U.S. economy over the past eight years.  If Barack Obama had not taken the extreme measures that he did, we would be in the midst of a historic economic depression right now.  But by propping things up in the short-term, he has absolutely demolished our long-term economic future.  But like most politicians, Obama has been willing to sacrifice the future for short-term political gain. If you take any basic college course in economics, you are going to learn about John Maynard Keynes.  Without a doubt, Keynes was one of the most famous economists of the 20th century, and one of the things that he believed was that governments should go into debt and spend more money when an economic downturn strikes.  By injecting additional funds into the economy during a time of crisis, he believed that the severity of recessions and depressions could be reduced.  This approach ultimately become known as “Keynesian economics”, and in the post-World War II era virtually the entire world embraced it at least to some degree.
  • Italy referendum: ‘Period of uncertainty' predicted after Matteo Renzi's defeat – as it happened
    Here’s a roundup of the latest on Italy’s referendum and its aftermath: Matteo Renzi is preparing to formally submit his resignation after voters dismissed his plans for constitutional reform in a crushing referendum that saw close to 60% of voters opt for “no”. He said “My experience in government ends here … I did all I could to bring this to victory. Renzi has called a cabinet meeting for 1730 GMT, after which he said he would tender his resignation. The margin of the rejection– close to 20 percentage points – was much wider than expected. On a high turnout of 65.47%, 59.11% of voters chose no; 40.89% went for yes. Overseas voters bucked the trend, voting overwhelmingly (64.7%) for yes. The vote prompted the euro to initially fall to a 20-month low against the dollar and then bounce back to its highest level since mid-November. But shares in Italian banks have tumbled.
  • Reprieve for Native Tribes as Army Denies Dakota Pipeline Permit
    The secretary of the Army Corps of Engineers has turned down a permit for a controversial pipeline project running through North Dakota, in a victory for Native Americans and climate activists. A celebration erupted following the Sunday announcement at the main protest camp in Cannon Ball, North Dakota, where the Standing Rock Sioux tribe and others have been protesting against the 1,172-mile Dakota Access Pipeline for months. However it may prove to be a short-lived victory because President-elect Donald Trump has said he supports the project and policy experts believe he could reverse the decision if he wanted to. The line, owned by Texas-based Energy Transfer Partners LP , had been complete except for a segment planned to run under Lake Oahe, a reservoir formed by a dam on the Missouri River. That stretch required an easement from federal authorities. The Obama administration delayed a decision on the permit twice in an effort to consult further with the tribe.
  • The New American Dream – A Life In Hock
    We live in a society driven by debt. Cars, for example, have become hugely expensive (even on the low end) relative to what people can afford – because of the easy availability of credit. Which is the nice word used to speak about debt, intended to encourage us to get into it. It takes at least $15,000 or so to drive home in a “cheap” new car, once all is said and done. And the “cheap” car will have to be registered, plated and insured. It runs into money. And most new cars cost a lot more money. Which most people haven’t got. So they get debt. A loan. Which, when it becomes commonly resorted to as a way to live beyond one’s means as a lifestyle, drives up the cost of life for everyone. Including those who try to live within their means – or better yet, below them. When most people (when enough people) are willing – are eager – to go into hock for the next six years in order to have a car with an LCD touchscreen, leather (and heated) seats, six air bags, a six-speaker stereo, electronic climate control AC and power everything – which pretty much every new car now comes standard with – the car companies build cars to satisfy that artificial demand. Artificial because based on economic unreality. That is a good way to think about debt. It is nonexistent wealth. You are promising to pay with money you haven’t earned yet.
  • Stripped of Accounting Gimmicks, the US Has Been on the Verge of Recession since 2011
    The Fed has a very serious problem on its hands. That problem concerns the fact that for seven years the Fed has spread the myth of a “recovery.” I say “myth” because the reality is that when you remove accounting gimmicks, the US has been a “hair’s breadth” away from a recession since 2010. The most obvious gimmick being employed is the phony “deflator” used to understate inflation and overstate growth. Everyone knows that the official CPI measure for inflation is bogus. But the Fed routinely uses a deflator that is even lower that CPI when calculating GDP. This sounds rather technical, so let’s run through this one step at a time. Consider this simple example. Let’s say that the US GDP grew by 10% last year. Now let’s say that inflation also grew by 10%. In this scenario, real inflation adjusted GDP growth was ZERO.
  • We Have Killed Capitalism-Jim Sinclair
    Legendary gold and market expert Jim Sinclair says, “Markets do not exist anymore . . . and you can’t time what does not exist.” Sinclair contends a huge transition is underway, and the old system cannot be fixed. A new one is on the way, and the old one is going to end with a bang.  Sinclair explains, “Right now, they’re eating each other, and the eventuality is, getting back to the steam pot, there is going to be a day when there is only going to be one shark left, one very fat shark left, and what happens next?  That shark starves to death because it ate all the food.  So, the end of this is the explosion of that steam cooker which is called capitalism.”
  • Americans Not In The Labor Force Soar To Record 95.1 Million: Jump By 446,000 In One Month
    So much for that much anticipated rebound in the participation rate. After it had managed to post a modest increase in the early part of the year, hitting the highest level in one year in March at 63%, the disenchantment with working has returned, and the labor force participation rate had flatlined for the next few month, ultimately dropping in November to 62.7%, just shy of its 35 year low of 62.4% hit last October. This can be seen in the surge of Americans who are no longer in the labor force, who spiked by 446,000 in November, hitting an all time high of 95.1 million. As a result of this the US labor force shrank by 226,000 to 159,486K, down from 159,712K a month ago, and helped the unemployment rate tumble to 4.6%, the lowest level since August 2007.
  • Fake News and War Party Lies
    “I have in my possession a secret map, made in Germany by Hitler’s government — by the planners of the New World Order,” FDR told the nation in his Navy Day radio address of Oct. 27, 1941. “It is a map of South America as Hitler proposes to reorganize it. The geographical experts of Berlin, however, have ruthlessly obliterated all the existing boundary lines … bringing the whole continent under their domination,” said Roosevelt. “This map makes clear the Nazi design not only against South America but against the United States as well.” Our leader had another terrifying secret document, “made in Germany by Hitler’s government. … “It is a plan to abolish all existing religions — Protestant, Catholic, Mohammedan, Hindu, Buddhist and Jewish alike. … In the place of the churches of our civilization, there is to be set up an international Nazi Church…
  • Prepare for a US interest rate rise before Christmas
    Interest rates in the world’s biggest economy are going up before Christmas. That was the clear message from the latest set of US employment figures measuring job creation in November. Non-farm payrolls – the bellwether of demand for labour in the US – rose by 178,000, almost bang in line with what Wall Street was expecting. This was solid rather than spectacular, but good enough to trigger a move from the Federal Reserve, America’s central bank, when it meets later this month. Since it last raised rates this time in December 2015, the Fed has repeatedly found reasons to delay another increase in the cost of borrowing. But, after a slow start to the year, the pace of growth has quickened and unemployment has continued to fall, dropping from 4.9% to 4.6% last month.
  • “Economy Shattered, Currency Collapsing”: Venezuelans Wait In 6 ATM Lines For Enough To Buy Rice
    A fistful of bolivars buys… well, next to nothing. A sad state of affairs in Venezuela. Is this how the economic crisis will play out in America? A cash strapped population, forced to the brink and stripped of their dignity? Unfortunately, it is already underway in Venezuela. Of course there is a higher standard of living in the United States overall, but tens of millions of people are already on the edge of poverty and tens of millions more can be brought to their knees in a matter of hours. Some 46 million Americans are already on food stamps, and reliance on digital systems, EBT debit cards and electronic transactions could make Americans more vulnerable than they appear on the surface. If the system shut down tomorrow, what would you do? How would you feed your family? Unless you are a prepper, the answer could make you uneasy. Long lines have been the norm in Venezuela for over a year now; shortages and rations just another part of their upended lives. But now, the sheer free fall of their currency’s value has made live even more precarious – forcing many to visit as many as six ATMs just for enough to buy very basic, cheap goods.
  • OPEC Oil Cuts May Revive US Fracking Boom
    The Organization of the Petroleum Exporting Countries (OPEC) has agreed to cut crude oil production, and, though there are few details, it’s likely to good news for U.S. oil drillers. OPEC’s decision to reduce oil output by 1.2 million barrels per day has already sent London’s Brent benchmark crude price up 8 percent to more than $50 per barrel. The U.S. benchmark price rose 6 percent to $47.97 on Wednesday. That’s good news for U.S. oil drillers who have been struggling to produce with prices under $50 a barrel. U.S. hydraulic fracturing, or fracking, operations can quickly respond to oil price changes, meaning lots of idle oil wells could come online in the coming weeks if prices keep rising. Indeed, International Energy Agency (IEA) chief Fatih Birol said U.S. shale oil would “pour” onto markets if OPEC somehow managed to raise prices.
  • Why Trump Will Be Unable To Save The American Coal Industry
    It is no secret that the coal industry has faced hard times for the last few years. Environmental concerns led President Obama to institute more stringent regulatory requirements, while cheap natural gas created intense competition. Against that backdrop, many coal industry participants and investors hoped that President Trump would be able to reverse those fortunes. President Trump will undoubtedly do his best to help the industry, but recent events have shown that may be harder than it appears. Canada recently announced for instance that it would begin phasing out coal faster than it had previously planned due to increased environmental concerns. That’s a significant development because Canada is the fifth largest buyer of U.S. coal traditionally.
  • Winners And Losers Of The OPEC Deal
    It’s no secret I’ve been one of the consistent naysayers about the OEPC deal. I was confident a deal wouldn’t be had, and that if they did manage to reach a deal—which seemed an impossibility given Iran/Saudi relations—it would have little to no effect on the supply glut. I was wrong on one account—they did manage to solidify a deal. It’s important to note before we look at the cold, hard facts of the deal specifics that I’m a proponent of letting markets correct themselves, and as such, I found it disturbing that the world was expectant that OPEC needed to solve the world’s oil supply glut by essentially manipulating oil prices through a controlled production cut, but nonetheless, all eyes were on OPEC. “Solve the supply glut!” the world seemed to scream. This perplexed me.
  • An interesting perspective on the War on Cash
    It’s happening faster than we could have ever imagined. Every time we turn around, it seems, there’s another major assault in the War on Cash. India is the most notable recent example– the embarrassing debacle a few weeks ago in which the government, overnight, “demonetized” its two largest denominations of cash, leaving an entire nation in chaos. But there have been so many smaller examples. In the US city of New Orleans, the local government decided earlier this month to stop accepting cash payments from drivers at the Office of Motor Vehicles.
  • Demonetisation can permanently damage India’s informal economy
    On November 8, Indian Prime Minister Narendra Modi announced that ‘the 500 rupee and 1,000 rupee currency notes presently in use will no longer be legal tender from midnight’. This step of demonetisation was taken ostensibly for curbing black money and counterfeit currency notes. As per Reserve Bank of India (RBI) figures, the higher denomination notes of Rs 500 and Rs 1000 constitute 86.4 per cent of the total currency in circulation in the economy, by value. Therefore, with the stroke of a pen, the government nullified 86 per cent of the currency in the economy. This huge monetary shock to the economy has both short-term and long-term effects. Firstly, such withdrawal of money supply in the economy has drastically reduced transactions and exchanges, primarily for those sectors which use cash.
  • The Great Unwind Unravels Hottest Rental Markets in the US. Now in San Francisco, New York, Boston, Chicago, Washington DC, and perhaps a city near you.
    Averaged out across the US, asking rents for apartments still rose in November on a year-to-date basis, though more slowly than before, with the median asking rent for a one-bedroom up 1.8% and for a two-bedroom up 2.2%, according to Zumper’s National Rental Price Index. In July, rents had still been up over 4% year-to-date. Since then, they’ve started ticking down on a monthly basis. But averages can cover up more than they reveal. On a city-by-city basis, a different scenario emerges, with rents going totally crazy in some la-la lands, as if it were still the summer of 2015, and in other cities, including the three most expensive rental markets in the US, rents are coming down hard.
  • Subprime Auto-Loan Delinquencies Surge to NY Fed’s Attention. Six million Americans are 90-plus days delinquent.
    The increasingly turbulent sector of subprime auto loans bubbled to the attention of the Federal Reserve Bank of New York. In its Liberty Street Economics, it worries about the “notable deterioration in the performance of subprime auto loans” – Fed speak for the momentum with which these loans are going to heck. About six million people with subprime credit scores (below 620) are now at least 90 days past due on their payments for their car or truck. The New York Fed worries about the lenders that specialize in these loans, and it worries about the “large number of households” whose vehicles are at risk of repossession: “The increased level of distress associated with subprime loan delinquencies is of significant concern, and likely to have ongoing consequences for affected households,” it says.
  • Largest US Bitcoin Exchange Ordered To Disclose Three Years Of User Data To IRS
    Last week we reported, that in an unprecedented attempt to breach the personal privacy of users of the largest bitcoin exchange in the US, Coinbase, the IRS filed papers seeking a judicial order to serve a so-called “John Doe” summons on the San Francisco-based Bitcoin platform. The government’s request was part of a bitcoin tax-evasion probe, and seeks to identify all Coinbase users in the U.S. who “conducted transactions in a convertible virtual currency” from 2013 to 2015. What makes a “John Doe” unique, is that it represents a special “shotgun” form of summons to look for tax evaders that allows the IRS to obtain information about all taxpayers in a group or class of people, even if the agency doesn’t know their identities. The IRS has deployed the tactic in its recent crackdown on undeclared offshore accounts, with the implication that any such broad sweep may lead to prosecution. Coinbase executives were “extremely concerned” and vowed to oppose the government's petition in court.
  • Debt & Deficit Outlooks for France, Italy, Spain, & Portugal
    After dragging Greece kicking and screaming through a never-ending vicious cycle of fiscal adjustment and output decline, the European Commission seems to be softening in its attitude towards other struggling Eurozone economies. France, Italy, Portugal and Spain, among others, have all repeatedly been given extensions to reduce their debt and deficit levels after recurrent breaches of EU targets have gone unpunished, and the trend looks set to continue as our forecasts show that those economies will underperform again this year and next. Does this mark a shift in mindset within the Commission as to whether the Growth and Stability Pact is fit for purpose? Or rather just tactical maneuvering—or indeed resigned acceptance—in tough political times, as the EU faces unprecedented challenges to its legitimacy and survival?
  • One Scary Chart: Venezuela's Currency Disintegrates
    It was just this past Monday when we were reported that the Venezuela currency, the Bolivar, had crashed below 3,000 for the first time ever, losing 15% of its value in just one day as the Venezuela hyperinflation had entered its terminal phase. Today, the DolarToday.com website, maintained by a person the WSJ dubbed “Public Enemy No. 1 of Venezuela’s revolutionary government, Gustavo Díaz, a Home Depot Inc. employee in central Alabama” reports that having crossed the psychological 2,000 level ten days ago, and taking out the 3000 barrier earlier this week, the Bolivar has now plunged to a new all time low of 4,609.37 on the black market, dropping by 15% from its latest print of 2,972 reported on Friday of last week, and has lost 60% in its value just in the past month.
  • Crunch Time for “Zombie Bank… on Brink of Collapse”
    Things have gotten so serious at Spain’s sixth biggest bank, Banco Popular, that The Wall Street Journal just christened it “Spain’s most Italian bank.” It wasn’t meant as a compliment. These days the bank’s second biggest block of shareholders are short-sellers. They include some of the biggest hedge funds on the planet, from UK-based Oxford Asset Management, which holds a short position of 0.53% of the banks’ total shares, and Marshall Wace (2.23%) to Connecticut-based behemoth AQR Capital Management (2.92%). As of Nov 25, short-sellers held 8.6% of the bank’s capital. It was enough to attract the unwelcome attention of Spain’s market regulator, CNMV, which has so far refused to ban shorting of the stock but has launched an investigation into whether a group of insiders led by Mexican billionaire Antonio Del Valle is using underhand tactics to cheapen the stock in preparation for a takeover bid.
  • Pastor Lindsey Williams introduces Pastor David Bowen – December 1, 2016
    Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.
  • Putin: We’ll work with new US administration
    Russian President Vladimir Putin said on Thursday that Moscow does not want to go to war or enter into confrontation and any other country in the world. During his annual state of the nation televised address Putin said he wanted to work closely with the new US Administration adding that Moscow needs friends to ensure global stability. He added that Moscow and Washington share responsibility to ensure international security and stability and for enhancing anti-proliferation mechanisms to ensure that nuclear weapons do not spread and do not fall into the hands of terrorists. But Putin also said that Russia would not allow outside interference in its affairs. “But we won’t allow any infringement on our interests and neglect of them,” he said.
  • Trump Confirms Retired Marine General “Mad-Dog” Mattis Will Be America's Next Secretary Of Defense
    Speaking during an Ohio “thank you” rally, Donald Trump just confirmed that James “Mad Dog” Mattis will be America's next Secretary of Defense. President-elect Donald Trump has chosen 66-year-old retired Marine General James N. “Mad-Dog” Mattis to be secretary of defense, according to The Washington Post.
  • After A “Run On The Pension Fund” Dallas Mayor Demands Halt Of Withdrawals
    We've written several times over the past couple of months about the epic meltdown of the the Dallas Police and Firefighters Pension (DPFP) (see here, here and here for background).  It all started when the Pension Board discovered that one of their real estate managers had been consistently overmarking illiquid real estate investments.  That discovery resulted in an FBI investigation of the manager and a $1BN write down for the DPFP.  In the wake of the writedowns, Dallas policemen and firefighters rushed for the exits and withdrew over $500mm in assets. Fearing a “run on the bank” that could push the whole city of Dallas into bankruptcy, Mayor Mike Rawlings has just sent a scathing letter to the DPFP Pension Board demanded that withdrawals be halted immediately until the “solvency and actuarial soundness of the Pension System is restored.”

Precious Metals Are The Only Lifeboat! I have persistently WARNED you what was happening in the gold market and why you needed to convert your paper assets to physical gold and silver by the middle of September 2015. You need to hedge against the financial instability with physical gold and silver. Call the experts to help you convert your IRA or 401k into Gold, Silver and Other Precious Metals. Call Regal Assets NOW before it's too late! Call Toll-Free 1-888-748-6766.

Elite: What Next! Trump Has Won…

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Chaplain Williams' Elite friend has told him the total story of the election – Donald Trump and what to expect from the Elite. A NEW DVD entitled, “Elite: What Next! – Trump Has Won!” is coming soon!

God Bless,
Chaplain Williams

Pastor Lindsey Williams introduces Pastor David Bowen – December 1, 2016

Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter. If you are not a subscriber please subscribe for free by entering your name and email address in the box below.

Pastor David Bowen is pastor of Standing Stones Community Church in Phoenix, AZ. For more information about Pastor Dave please visit http://standingstonescc.org/

Pastor Dave is also creator of the website Interpreting The Times, understanding world events through scripture. You can find out more by visiting http://www.interpretingthetimes.com/

Please leave your thoughts and comments below regarding this new addition to Pastor Williams' newsletter each week.

Latest News Articles – December 1, 2016

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.

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Lindsey Williams - Latest News Articles

Latest News From November 25, 2016 to December 1, 2016:

  • WARNING: Dangerous Indicator Just Hit A New All-Time High Eclipsing Years 2007 & 2000, Prior To Crashes
    This dangerous indicator just hit a new all-time high, eclipsing the years 2007 and 2000, prior to crashes. Here is what Peter Boockvar wrote today as the world awaits the next round of monetary madness:  Reiterating again my bullishness on the economic agenda of our new President (ex any nationalistic trade changes that include tariffs) I will repeat that it would be naïve to analyze this in isolation when trying to quantify the full implications…
  • ALERT: James Turk – The World Is About To See A Historic Shift Out Of Stocks Into Gold
    As we kick off the final week of trading in November, today James Turk told King World News that the world is about to see a historic shift away from stocks and into gold. James Turk:  “A lot of publicity is being given to the record highs in the stock market, Eric. The result is that people are getting very excited about the Dow Jones Industrials and the S&P 500. It is easy to sense the froth that one sees at market tops is building, which leads to an important question…
  • Jim Willie Issues Financial Collapse Warning: “Fuse Has Been Lit!”
    Many are the potential fuses to be lit, which would create the conflagration, the massive bonfire of the bond vanities and bank charades. Many are the fuses lying around, all criss-crossed, all exposed, all overlapping each other in highly dangerous manner. If any single fuse is lit, then several will light and the detonation arrives. It is unavoidable since the financial world is so deeply interwoven. Never in modern history has the global financial structure been so badly weakened, so totally corrupted, so thoroughly undermined by control mechanisms, so intensely defended by sanctions even war.
  • Americans Cannot Comprehend the Loss of the Dollar as the World Reserve
    In the following interview, Dr. Jim Willie joins John B. Wells on the Caravan to Midnight for an explosive interview that touches upon a dozen very hot thorny topics, such as politics with Trump vs Hillary, the aftermath with deep economic and financial implications, the new challenges of the Trump Administration, and numerous other areas, as it bounces from one topic to another including #PizzaGate, Podesta, Madelaine McCaine, ISIS, the Clinton Foundation, the Bundy Farm, Uranium sales, and so much more!
  • Germany on a knife edge: Italian referendum sparks panic over Deustche Bank's future
    DEUTSCHE Bank's share price tumbled further during Tuesday trading, as fears escalated for the lender's future ahead of Italy's referendum on Sunday. Investors have dumped stock in Germany's largest bank, taking its price down almost one per cent today, and by more than three per cent over the the last five trading sessions. Deutsche has already lost almost half its value this year, as markets fret over the bank's weakness and a looming fine from US authorities. The troubled lender is now looking vulnerable to shocks set to rip through the eurozone if Italy's Prime Minister loses a vote over Constitutional Reform on Sunday, said experts.
  • The Western War On Truth — Paul Craig Roberts
    The “war on terror” has simultaneously been a war on truth. For fifteen years—from 9/11 to Saddam Hussein’s “weapons of mass destruction” and “al Qaeda connections,” “Iranian nukes,” “Assad’s use of chemical weapons,” endless lies about Gadaffi, “Russian invasion of Ukraine”—the governments of the so-called Western democracies have found it essential to align themselves firmly with lies in order to pursue their agendas. Now these Western governments are attempting to discredit the truthtellers who challenge their lies.
  • STRESS TESTS: Barclays, RBS and Standard Chartered found to have ‘capital inadequacies'
    Royal Bank of Scotland, Barclays and Standard Chartered came up lacking in the Bank of England's stress tests. The three banks had to submit plans to the regulator detailing how they would raise capital and boost their resilience to financial shocks. “While the Prudential Regulation Authority (PRA) Board judged that some capital inadequacies were revealed for three banks (The Royal Bank of Scotland Group, Barclays and Standard Chartered), these banks now have plans in place to build further resilience,” the central bank said.
  • Amazing Prophecy From 1981 Says That The U.S. Economy Will Collapse After The Death Of Fidel Castro
    Four out of the five major events named in an incredible 1981 prophecy have already happened in consecutive order, and the only thing remaining to be fulfilled is “the collapse of the economic system of the United States”. On Friday, I logged into Facebook and I discovered that someone had sent me a message about a website that I had never heard about. I had a few spare minutes so I went and checked the website out and to be honest it was very poorly designed and so I only spent a moment looking at it before I moved on. Sadly, this is how things work on the Internet – if something does not capture our interest immediately we don’t have the patience to keep reading. But later I learned that this website contained a very old prophecy about the death of Fidel Castro which has very alarming implications for our near future.
  • Why Are So Many Among The Elite Building Luxury Bunkers In Preparation For An Imminent ‘Apocalypse’?
    Do they know something that the rest of us do not?  There are tens of millions of ordinary Americans that are feeling really good about the future now that Donald Trump has won the election, but meanwhile the elite are feverishly constructing luxury bunkers at a pace unlike anything we have ever seen before.  So why are so many among the elite preparing for an imminent “apocalypse” when tens of millions of other Americans are anticipating a new era of peace and prosperity?  Are they smarter than most of the rest of us, or are they simply being paranoid?
  • Fake News List Death Knell for MSM-Paul Craig Roberts
    Economic expert and journalist Dr. Paul Craig Roberts thinks the recent publication of the so-called ‘fake news” list recently published by the Washington Post signals a major turning point for all of the mainstream media (MSM). Dr. Roberts explains, “I think this is the death knell for the mainstream media. I think this list essentially kills the credibility of the mainstream media and certainly the Washington Post. It has demonstrated it is completely devoid of any integrity. I am a former Wall Street Journal editor, and if we had done something like that, Warren Phillips would have fired every one of us. We would have been told to get out. You can’t carry on this kind of assault on people. I think this is a sign of desperation.”
  • Jimmy Carter Urges Barack Obama To Divide The Land Of Israel At The United Nations Before January 20th
    In an absolutely stunning editorial for the New York Times, former president Jimmy Carter has publicly called for Barack Obama to divide the land of Israel at the United Nations before Inauguration Day. While he was president, Carter negotiated peace between Israel and Egypt, and ever since that time he has been a very strong advocate for a Palestinian state. Carter is completely convinced that a “two-state solution” will bring lasting peace to the Middle East, but now that Donald Trump has been elected Carter knows that his dream of seeing a Palestinian state while he is still alive is rapidly slipping away. In a desperate attempt to salvage the situation, Carter is urging Barack Obama to take bold action while he still has the power to do so.
  • Turkey Has Declared War On Syria – Does This Mean That World War 3 Is About To Erupt In The Middle East?
    Turkish President Recep Tayyip Erdogan has just announced that the only reason Turkish military forces have entered northern Syria is to “end the rule of the tyrant al-Assad”.  By publicly proclaiming that Turkey intends to use military force to overthrow the regime of Syrian President Bashar al-Assad, Erdogan has essentially declared war on the Syrian government.  Of course this puts a member of NATO in direct military conflict with Russia, since Russia is working very hard to prop up the Assad regime.  If all-out war breaks out between Turkey and Russia, could that be the spark that causes World War 3 to erupt in the Middle East?  And once Turkey and Russia start fighting, would the United States and the rest of NATO be dragged into the conflict?
  • The Democrats’ real strategy in launching recounts
    The recount in Wisconsin, and the coming ones in Michigan and Pennsylvania will not change the outcomes in any of the states.  No recount ever changes thousands of votes.  I do not think that is the purpose. The recounts, if done by hand, which can be demanded, may take longer than the last day for completing the official counts in a state and directing Electoral College voters.  If all 3 states miss the deadline, Trump is at 260, Hillary at 232.  No one hits 270.
  • Fears of multiple bank failures if Renzi loses referendum
    Up to eight of Italy’s troubled banks risk failing if prime minister Matteo Renzi loses a constitutional referendum next weekend and ensuing market turbulence deters investors from recapitalising them, officials and senior bankers say. Mr Renzi, who says he will quit if he loses the referendum, had championed a market solution to solve the problems of Italy’s €4 trillion banking system and avoid a vote-losing “resolution” of Italian banks under new EU rules.
  • Italian Banks Hit Again Ahead of the Looming December 4th Referendum
    There may be another reason why the Euro has been so damned weak v the dollar: it might not exist for too much longer. With Le Pen from France surging in the polls and Prime Minister Renzi from Italy promising to fire himself should a drastic and very aggressive constitutional realignment fail to pass in a referendum on December the 4th, the anti EU five star movement might takeover and tell Germany to fuck off. All of this is weighing heavily on Italian stocks, one of the worst performing indexes in the world this year, off by 23% — somewhat immune to the greatness of QE and all of its grandiose splendor. To that end, Italian banks continue to slug lower, amidst acrimonious sentiment that a potential exit from the EU might lead to the ultimate destruction of an already comically overburdened and woefully undercapitalized Italian banking system.
  • UN Official: The Real Reason For The Global Warming Scare Is To Kill Off Capitalism
    Christiana Figueres, the executive secretary for the U.N.’s Framework Convention on Climate Change actually admitted during a news conference this month that the real goal of all the climate change propaganda is to kill off capitalism. “This is the first time in the history of mankind that we are setting ourselves the task of intentionally, within a defined period of time, to change the economic development model that has been reigning for at least 150 years, since the Industrial Revolution,” Figueres stated.
  • US Housing Market In Peril As “Increase In Mortgage Rates Has Shocked Consumers”
    While rising treasury yields may be music to the ears of savers who have been crushed by low interest rates over the past 7 years, they're a bit of downer for the overwhelming majority of Americans that have been funding their lavish lifestyles with cheap debt.  Yes, sadly the days of upgrading to the $65,000 luxury car despite a $40,000 annual salary, because you can “afford it” so long as you can cover the low monthly payments courtesy of 7-year terms and low interest rates, may finally be coming to an end.  But auto OEM's aren't the only ones about to get crushed by the “normalization” of interest rate policies in the U.S.  As the Wall Street Journal points out, according to the Mortgage Bankers Association, mortgage refinancings are set to drop 46% in 2017.  And with many American's funding their daily expenses with “cash-out” mortgage refi's, pretty much everyone selling goods to consumers, which happens to represent about two-thirds of the economy, has reason for concern.
  • Nigel Farage: I fear for my life – Ukip leader fears violent attacks every day
    NIGEL Farage says he cannot leave his house without security after Brexit and Donald Trump’s US presidential election victory. The interim Ukip leader has received death threats and just last week was confronted during a night out. The revelation came as the 52-year-old Brexiteer refused to rule out backing fascist National Front leader Marine Le Pen for the French presidency. In his most explosive interview to date, the controversial MEP said he was “on the fence” over whether far-Right Eurosceptic Le Pen’s election was a price worth paying to bring down the EU, saying: “If she wins, it’s over.”
  • The Hyperinflationary Endgame: Venezuela Currency Crashes 15% In One Day
    Just last week we were amazed to report that the Venezuela currency, the Bolivar, had crashed below 2,000 for the first time ever, losing 50% of its value in just two months as the Venezuela hyperinflation had entered its terminal phase. As of this morning, the DolarToday.com website, maintained by a person the WSJ dubbed “Public Enemy No. 1 of Venezuela’s revolutionary government, Gustavo Díaz, a Home Depot Inc. employee in central Alabama” reports that having crossed the psychological 2,000 level just one week ago, the Bolivar has just plunged to a new all time low of 3,480.22 on the black market, dropping by 15% from its latest print of 2,972 reported on Friday of last week, and has lost 60% in its value just in the past month.
  • Judge Napolitano: Enough evidence to prosecute Clinton for espionage
    FNC Senior Judicial Analyst Judge Andrew Napolitano on whether Hillary Clinton could still be prosecuted over the email scandal and President-elect Donald Trump's potential picks for the Supreme Court.
  • India's Modi Admits Plan Shifting Nation To “Cashless Society”
    Well who could have seen this coming? Just as we noted, the slippery slope towards full government control in a cash-less society is where Indian PM Modi is heading following his chaos-creating demonetization efforts of the last two weeks. While massive opposition protests are planned tomorrow, Modi remains indignant, as Reuters reports, “we can gradually move from a less-cash society to a cashless society…this is the chance for you to enter the digital world.”
  • 7 Investment Implications In A Post-Trump World
    Market dislocations occur when financial markets, operating under stressful conditions, experience large widespread asset mispricing. Welcome to this week's edition of “World Out Of Whack” where every Wednesday we take time out of our day to laugh, poke fun at and present to you absurdity in global financial markets in all its glorious insanity. While we enjoy a good laugh, the truth is that the first step to protecting ourselves from losses is to protect ourselves from ignorance. Think of the “World Out Of Whack” as your double thick armour plated side impact protection system in a financial world littered with drunk drivers. Selfishly we also know that the biggest (and often the fastest) returns come from asymmetric market moves. But, in order to identify these moves we must first identify where they live.
  • Ron Paul Lashes Out At WaPo's Witch Hunt: “Expect Such Attacks To Continue”
    Washington Post Peddles Tarring of Ron Paul Institute as Russian Propaganda, via The Ron Paul Institute for Peace & Prosperity, The Washington Post has a history of misrepresenting Ron Paul’s views. Last year the supposed newspaper of record ran a feature article by David A. Fahrenthold in which Fahrenthold grossly mischaracterized Paul as an advocate for calamity, oppression, and poverty — the opposite of the goals Paul routinely expresses and, indeed, expressed clearly in a speech at the event upon which Fahrenthold’s article purported to report. Such fraudulent attacks on the prominent advocate for liberty and a noninterventionist foreign policy fall in line with the newspaper’s agenda. As Future of Freedom Foundation President Jacob G. Hornberger put it in a February editorial, the Post’s agenda is guided by “the interventionist mindset that undergirds the mainstream media.”
  • Italy: The Biggest Elephant Jeopardizing Europe and the Euro
    Not just the euro, but the entire European Union may be in jeopardy next week when the Italians vote on a constitutional referendum initiated by Prime Minister, Matteo Renzi. What a Jubilee year it has been. First Brexit, then Trump and now it appears Italy is on the cusp of also escaping the grasp of the European Union. After two years of directly covering trends involved with the disintegration of Western culture in my book Shemitah Trends, I can say with confidence that what has been built up is being torn down. That includes the European Union which will either gradually or abruptly collapse into various pieces.
  • Breaking News on the War on Cash: Now Spain
    India, Uruguay, Australia and now Spain. The Minister of Finance and Public Service, Cristóbal Montoro has reportedly just announced “anticipated measures in order to ‘reduce the use of cash.’ In other words, Spain is going to make cash transactions even more difficult. As of presstime, from what we can tell, this has yet to be reported anywhere in English media except here now at TDV. As you can see, the chaos is increasing. Combine cash bans with attacks on fake news (more on that tomorrow), and you end up disturbing a significant amount of people as we wrote here recently.
  • Hit by Global Turmoil, Banks in Spain Get Jittery (Again)
    Banking stocks in Europe continue to benefit from the gravitational pull exerted by the so-called Trump effect. But the effects have not been felt universally. Monte dei Paschi di Siena, which is at the center of Italy’s banking crisis, has been reduced to a penny stock. The shares of Italy’s other large banks continue to trend downwards. And the problems in other national banking sectors have not gone away; they’ve just been consigned to the background. Such is the case in Spain, where the risks and challenges in the country’s banking system continue to bloom.
  • Shipbuilding in Japan, Korea, China Collapses in Death Spiral of Orders
    New orders received by Chinese shipyards – now infamous for undercutting competitors and sinking into bankruptcy – have plunged 58.5% so far this year through October, compared to last year, according to shipping industry data provider BIMCO, cited by the Nikkei. At South Korean shipyards, which include the three largest in the world, orders have plunged 84.2%; at Japanese shipyards, 90%.
  • Trump is meeting with an ex-bank CEO who wants to abolish the Federal Reserve and return to the gold standard
    As President-elect's Donald Trump's transition rolls on, more and more attention is being paid to possible selections for a variety of high-ranking positions and meetings that might help decide these appointments. On Monday, Trump will meet with John Allison, the former CEO of the bank BB&T and of the libertarian think tank the Cato Institute. There have been reports that Allison is being considered for Treasury secretary.
  • Profits over People: How Big Pharma’s Money Affects Our Health and Wallets
    Earlier this month, I posted two articles on Big Pharma, back to back. The first one was my classic approach: How PE Firms Are Flipping Drugs in Price-Gouging Scheme that Cannibalizes the Entire US Economy (with 109 great comments). The second one was coincidence. The digital ink wasn’t dry on the first article, when its was revealed that the Justice Department was getting antsy: “More than a Dozen” Drugmakers under Criminal Investigation for Price-Fixing, Shares Plunge, after Getting Crushed All Year (56 great comments). But as always, there’s more to it. Here are some hard numbers from a different angle that shed a lot of light on how the industry works.
  • Black-Friday Woes: The Death of the Department Store
    Black Friday is when you’re supposed to shop till you drop. It kicks off the holiday selling season. No season is more sacred for retailers. They’re expected to do about 40% of their annual sales in those few weeks till Christmas. The National Retail Federation is bubbling over with enthusiasm, expecting holiday sales to grow 3.6% this year to $656 billion. Since Trump has won the election, consumer optimism about the economy has surged, and this is expected to be one hot holiday selling season.
  • Black-Friday-Weekend Woes End “Trump Effect”
    Since Trump’s victory, stocks have soared in magic anticipation that the economy would somehow suddenly rise from its languid state and reach escape velocity. Consumer confidence has jumped, even according to Gallup’s Economic Confidence Index whose defining aspect over the years has been its daunting negativity [The Trump Effect on Americans’ Perception of the Economy]. And the National Retail Federation had gushed recently that spending would rise 3.6% this holiday selling season, compared to last year. And we may still get that, but miracles have become scarce and hard to come by these days.
  • Short-Term Negative Long-Term Positive-Catherine Austin Fitts
    Investment advisor Catherine Austin Fitts sums up what happened with the election of Donald Trump by saying, “It’s amazing because if you look at the faction that wanted to sacrifice the United States for empire, you basically had Washington, Wall Street, Silicon Valley and Hollywood. What they have done for the last 20 years is they have used the corporate media to create this color revolution, soft revolution, which is really a front so the 1% can control.  The reality is if you look at what they were doing to destroy the United States, you just had an enormous, very wide group of people say enough.  We did a discussion of the election several months ago, and I said if the right people in the military intelligence get behind Trump, he could win, and I think that’s exactly what happened. . . . I think the intelligence agencies understand that you cannot leave people to do what needs to be done with people that are used to printing all the funny money they want and have no clue how the economy works. . . . I had no idea how completely ignorant Hillary Clinton was of the whole fundamental economics of the situation.  It’s because she’s been operating with cheap and free money for decades.  I think the intelligence agencies were trying to assert adult supervision of the situation.”
  • Shocking: Trump Fills Cabinet With Council on Foreign Relations War Hawks
    All due respect to Donald Trump supporters, partially because I am one, but I can’t help but notice I’m seeing many of the same characteristics in some of Trump’s more ‘rabid’ fan base that were also one of the key defining characteristics present in Obama’s ‘rabid’ fan base. Because certain supporters have put Trump up on a pedestal, much the way many of the Obamabots did before them, those same people are usually completely incapable of being objective, or calling out their candidate when something is wrong, or the candidate pulls a total 180 from something they campaigned on.
  • This Is Going To Rock The World And Bring Countries To Their Knees 
    On the heels of a brutal multi-week smash in the gold and silver markets and with bonds collapsing and interest rates soaring, this is going to rock the world and bring countries to their knees. Egon von Greyerz:  “The state of the derivatives market is very interest rate dependent and is going to be impacted by higher interest rates, which will come in the coming months and years.  They are going a lot higher.  Interest rates are going into the teens (13+%) regardless of what happens to the economy.  Of course that will mean that the derivative market will not survive.  The debt market is the biggest bubble in the world.  We are talking about a total debt market of $150 trillion.  That market is going to collapse and that collapse will start as money printing increases.  Gold could therefore go a lot higher than anybody realizes.  I’m still standing by my $10,000 price target for gold in today’s money, but there is no chance…
  • As Massive Bond Bubble Implodes, Is It About To Trigger A Major Move In Gold, Silver, And The Canadian Dollar?
    Is the 34-year bull market in U.S. bonds over?  And how will this impact gold, silver, and the Canadian dollar? Fitzpatrick also noted the November 2015 high of 2.37%, and the 2015 high of 2.5% on the U.S. 10-Year yield.  Fitzpatrick stated, “A break above those levels (noted on the chart above) would open the way to the 3.00-3.05% area which was the ‘taper tantrum’ peaks.”  Of course this would mean much higher mortgage rates, which would weaken prices of real estate.
  • Castro Was Not Who You Thought He Was
    Castro is dead, but he achieved his purpose, which was to aggravate the Cold War, provide a test case for communism and frighten people about incipient nuclear missile exchanges. His passing marks the end of the first phase of the Cold War. Now it is very obvious that a second phase is being prepared. Tensions between Russia and the US are being continually heightened… and no, they are still ongoing even with the election of Trump who, under the guidance of Henry “War Criminal” Kissinger, has pledged his full support for NATO while Putin has replied that he will crush NATO. These tensions are mainly initiated by the US and Britain. In other words it is the Anglosphere that has been responsible for so many wars including the World Wars. Castro provides us with an example of how these trends – which we regularly analyze – work.
  • 2016′s Worst Black Friday Fights While Shopping
    If the 2016 election taught us anything, it is that our country’s government is a cesspool of corruption, and if Obama’s presidency taught us anything, it was that the country no longer should have a “moral compass” to guide us, because after all, who’s to say what is moral, right? [eyes rolling] n his latest video, YouTuber Jason A shows video footage of Americans at their worst. During a time when people are shopping for special loved ones in their lives, for gifts during a season that is supposed to be special, on Black Friday people seem to lose sight of the things that are truly important in life, as you’re about to see.
  • College Students Demand Police Investigate “Suck It Up, Pussies” Post-It Note As Hate Crime
    Today we learn of yet another campus full of disaffected Hillary snowflakes who were triggered by a post-it note suggesting that they should stop whining about the election and just “suck it up, pussies.”  This latest example comes to us from Edgewood College in the ultra-liberal bastion of Madison, Wisconsin via Campus Reform. Apparently the simple post-it note was determined to be a “hate crime” by the college's “diversity offices” and students with knowledge of the incident were encouraged to contact campus police.  To our complete shock, a message from Edgewood's Vice President for Student Development pinned the blame for the “hate crime” on Trump, saying that it is part of a growing trend of “covert micro-aggressions and overt macro-aggressions” that have “taken on new fervor in higher education since our national election.”
  • What It Feels Like To Be Homeless For The Holidays In America
    Could you imagine spending the holidays in a homeless shelter, in a tent city surrounded by drug addicts and prostitutes, or in a sleeping bag on the cold, hard streets of an urban jungle?  Unfortunately, that is what real life looks like for an increasing number of Americans.  Most of the time when we think of “homeless people”, the image that comes into our minds is one of a grizzled old man asking for some spare change, but the truth is that vast numbers of women and children in our country do not have anywhere to live.  In fact, Poverty USA has reported that last year a grand total 1.6 million U.S. children stayed either in a homeless shelter or in some other form of emergency housing.  And you never hear the mainstream media report this number, but the truth is that the number of homeless children in the United States has risen by 60 percent since the “end” of the last recession.   For the moment the wealthy are getting wealthier, but meanwhile things have just continued to get harder and harder for those that are struggling to survive in this economy.
  • 12 Signs Of Extreme Optimism In America Now That Donald Trump Has Been Elected
    The election of Donald Trump has brought a giant wave of optimism to conservative America unlike anything that we have seen since probably the days of Ronald Reagan. Millions of Americans that were once deeply pessimistic about the future of this country now have hope again thanks to what many consider to be the greatest miracle in the history of U.S. politics. And just like so many of the pre-election polls, the predictions about how the nation would immediately respond to a Trump victory have turned out to be completely wrong as well. Instead of a historic stock market crash as many in the mainstream media were projecting, we have seen an unprecedented stock market rally in the days following Trump’s win. Instead of an immediate economic downturn, many economic indicators have surged to their highest levels in quite some time in recent weeks. And instead of feeling gloomy about the future, many Americans are feeling really good about what is ahead for the first time in a very long time.
  • Record Run into Gold and Silver Coming-David Morgan
    Precious metals expert David Morgan says trillions of dollars of negative interest rate paying bonds is a sign we are getting close to another financial calamity bigger than the last. Morgan explains, “Now, as everyone knows, we are even at negative interest rates, and people are buying into this.  They are guaranteed to get less back. . . . This is the upside-down world we are living in.  This is the scientific planet that is our reality.  So, this is the reason you will see a run to the dollar before you see a run to gold.
  • Half Of The Population Of The World Is Dirt Poor – And The Global Elite Want To Keep It That Way
    Could you survive on just $2.50 a day?  According to Compassion International, approximately half of the population of the entire planet currently lives on $2.50 a day or less.  Meanwhile, those hoarding wealth at the very top of the global pyramid are rapidly becoming a lot wealthier.  Don’t get me wrong – I am a very big believer in working hard and contributing something of value to society, and those that work the hardest and contribute the most should be able to reap the rewards.  In this article I am in no way, shape or form criticizing true capitalism, because if true capitalism were actually being practiced all over the planet we would have far, far less poverty today.  Instead, our planet is dominated by a heavily socialized debt-based central banking system that systematically transfers wealth from hard working ordinary citizens to the global elite.  Those at the very top of the pyramid know that they are impoverishing everyone else, and they very much intend to keep it that way.
  • Washington Post Names Drudge, Zero Hedge, & Ron Paul As Anti-Clinton “Sophisticated Russian Propaganda Tools”
    The desperate flailing of a mainstream-media struggling through the five stages of grief continues as no lesser unbiased foundation of the fourth estate than The Washington Post pushes ahead with its “fake news, blame the Russians” narrative for why their candidate failed so miserably. Citing “two teams of independent researchers” (who surely have a substantial libel litigation provision)  who found “Russia’s increasingly sophisticated propaganda machinery… echoed and amplified right-wing sites across the Internet as they portrayed Clinton as a criminal,” the Jeff Bezos-owned website names Drudge, Zero Hedge, and The Ron Paul Institute and countless other outlets among the “useful idiots” that true American patriots should be wary of.
  • Election Not Over? Money Is Being Raised To Challenge The Election Results In Wisconsin, Michigan And Pennsylvania
    Just when you thought it was safe to celebrate Trump’s victory, the left is hatching a plan to try to steal the election right from under his nose.  A group composed of “prominent computer scientists” and “election lawyers” is urgently asking the Clinton campaign to challenge the election results in Wisconsin, Michigan and Pennsylvania.  They claim that there is “persuasive evidence” that the election results in those states were “manipulated or hacked”, and they are pushing Clinton to file formal challenges to those results while there is still time to do so.  As I write this article, the final result in Michigan could still go either way, and if Hillary Clinton does end up winning Michigan all she would have to do would be to flip the results in Wisconsin and Pennsylvania to become the next president of the United States.
  • Wisconsin to recount presidential votes
    Wisconsin will undertake a recount of its presidential election votes after two requests from third-party candidates. Green Party nominee Jill Stein filed her request just before the deadline Friday afternoon, the Wisconsin Elections Commission announced. Reform Party candidate Rocky De La Fuente also filed for a recount. “We are standing up for an election system that we can trust; for voting systems that respect and encourage our vote, and make it possible for all of us to exercise our constitutional right to vote,” Stein said in a statement.
  • Electoral college must not elect Donald Trump unless he sells his business, say Obama and Bush's ethics lawyers 
    The former ethics lawyers for president Barack Obama and George W Bush have asked the electoral college to not appoint Donald Trump as the next president due to his potential conflicts of interest. Richard Painter, former chief ethics counsel for Mr Bush, and Norman Eisen, former chief ethics counsel for Mr Obama, said that the president-elect must sell out from his real estate and business holdings before 19 December, when the electoral college officially appoints the next president.
  • Instead Of Black Friday Materialism, Thanksgiving Weekend Should Be A Time To Live, Laugh And Love
    On Friday, hordes of desperate zombies were spotted desperately trying to save a few dollars on toys, apparel and cheaply made electronic goods all over America.  Seemingly oblivious to the fact that virtually all of these goods were made outside of the United States in nations where it is legal to pay slave labor wages, these zombies often clashed violently with one another over items such as soap, toilet paper and jumbo-sized televisions.  Black Friday puts the worst excesses of American materialism on display for the whole world to see, but most Americans don’t seem to care how pathetic we appear to be to the rest of the planet.  The only thing that most Americans know is that it is “the holiday season”, and so now it is time to spend, spend, spend even if it means going into crippling amounts of credit card debt.
  • ‘We can't be choosy': Mexican cement company executive says he'll HELP Trump build his border wall
    A Mexican cement maker is ready to lend its services to President-elect Donald Trump to build the wall he wants to erect on the southern border of the United States to curb illegal immigration. ‘We can't be choosy,' Enrique Escalante, Chief Executive Officer of Grupo Cementos de Chihuahua said in an interview with Reuters. ‘We're an important producer in that area and we have to respect our clients on both sides of the border.'
  • Paul Craig Roberts Asks “What If Trump Fails?”
    Did Donald Trump win the election because he is a racist and misogynist and so are the American people? No. That’s BS from the Oligarchs’ well-paid whores in the media, “liberal progressive” activist groups, think tanks and universities. Did Trump win because he stole the election? More BS. The Oligarchs controlled the voting machines. They failed to steal the election, because the people outsmarted them and told the pollsters that they were voting for Hillary. This led to the presstitutes’ propaganda that Hillary was the certain winner, and the Oligarchs believed their own propaganda and didn’t believe it necessary to make certain of their victory. Trump won the presidency because he spoke directly and truthfully to the American people, telling them what what they knew to be true and had never before heard from any politician.
  • Dollar Shortage Goes Mainstream: When Will The Fed Confess?
    Last week we posted the report by ADM ISI's Paul Mylchreest “Dollar Liquidity Threat is Getting Critical and the Fed is M.I.A” which summarized some of the key points in the ongoing, second phase of global dollar shortage, profiled here first in the start of 2015 and validated recently by the BIS. We discussed the bitter (and all too predictable) irony that the Federal Reserve doesn’t “get it”, having recently declared that that liquidity in financial markets was “adequate.” It isn't. More than 68,000 hits later, we suspect that many ZH readers are tracking the dollar liquidity crisis (and Fed ignorance) via the negativity in Cross Currency Basis Swaps (CCBS). The 3-month Yen/Dollar CCBS has made a new low of 81.75 bp (swapping Yen into dollars for 3 months costs 81.75bp annualised above covered interest parity) implying that the structural dollar shortage is deteriorating.
  • All Aboard The Post-TPP World
    A half-hearted near handshake between US President Barack Obama and Russian President Vladimir Putin before and after they spoke «for about four minutes», standing up, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Lima, Peru, captured to perfection the melancholic dwindling of the Obama era. A whirlwind flashback of the fractious relationship between Obama and «existential threats» Russia and China would include everything from the Washington-sponsored Maidan in Kiev to Obama’s «Assad must go» in Syria, with special mentions to the oil price war, sanctions, the raid on the ruble, extreme demonization of Putin and all things Russian, provocations in the South China Sea – all down to a finishing flourish; the death of the much vaunted Trans-Pacific Partnership (TPP) treaty, which was reconfirmed at APEC right after the election of Donald Trump.
  • How Much Government Debt Rests Upon Your Shoulders?
    With the U.S. National Debt closing in on the $20 trillion mark, there has been a lot of conversation in Washington about debt and its role in government. And most of that conversation right now revolves around President-elect Donald Trump. On one hand, the Trump campaign had early rhetoric in the Presidential campaign that the elimination of the deficit and existing government debt would be paramount if elected. The Trump administration has also been highly critical of the Federal Reserve, saying that the Fed’s policies create a “false economy”. As a result, some see Trump embracing the unique opportunity to put his stamp on how the Federal Reserve does business in early 2017.
  • Indian Currency Crashes To Record Low As Cash Exchange Of Old Notes Suspended
    It appears the social unrest, economic collapse, and currency crisis sparked by Indian PM Modi's decision to demonetize “corrupt” high-denomination bank-notes was not enough. As the Rupee crashed to a record low overnight, officials announced a suspension of the exchange of ‘old notes' as of tomorrow to, in their words, “encourage people to deposit old notes in their bank accounts.” With as much 60% of banknotes still un-exchanged, we suspect chaos will be the operative word for the immediate future. Those with old notes will still be allowed to deposit them into their bank accounts until Dec. 31, but not permitted to do outright exchanges.
  • ECB Warns There Is “Significant Risk Of Abrupt Market Reversal”
    One week after the BIS issued an unexpectedly stern, if completely ignored warning, that the surge in the USD is leading to an abrupt tightening in financial conditions around the globe, making the repayment of trillions in USD-denominated cross-border debt increasingly more difficult and suggesting that the Dollar index itself is the new “fear indicator”, overnight another central bank, the European Central Bank warned that the risk of “abrupt” global asset market corrections “have intensified” on the back of rising political uncertainty, posing a threat to banks, stability and economic growth. “More volatility in the near future is likely and the potential for an abrupt reversal remains significant amid heightened political uncertainty around the globe and underlying emerging market vulnerabilities,” the ECB wwarned in its twice-yearly Financial Stability Review published on Thursday.
  • Donald Trump says he believes there is ‘some connectivity’ between humans and climate change in major U-turn
    It is hard to keep up with the pace of change in the mind of Donald Trump. Just hours after announcing he was not going to pursue an investigation of Hillary Clinton over her use of a personal email server, he indicated another important U-turn – this time in regard to climate. During the campaign, Mr Trump has suggested climate change was nothing more than a “hoax”, and that the so-called myth may have been started by the Chinese.
  • Chile, Peru to join China-led trade partnership
    China appears to be making headway at the Asia-Pacific Economic Cooperation (APEC) summit in Lima, Peru as more countries fear the demise of Washington’s trade initiative and seek to sign on to Beijing’s Regional Comprehensive Economic Partnership (RCEP). Late on Sunday, Chinese officials said that Peru and Chile had signaled interest in joining the RCEP. The flight from President Barack Obama’s Trans-Pacific Partnership (TPP) comes as the gathering of 21 leaders appears to been overshadowed by one man who isn’t even attending the proceedings. Statements by President-elect Donald Trump about reversing US free trade commitments and policies have unnerved many global leaders who feel decades of negotiations are about to be undone.
  • Iran And Russia Continue To Strengthen Oil Ties
    Three Russian companies have signed contracts for oil field development with the National Iranian Oil Company, a senior NIOC manager told media. Gholam-Reza Manouchehri, deputy managing director of NIOC, said the companies were Lukoil, Tatneft, and Zarubezhneft. The contracts are the latest demonstration of the ever-closer ties between Moscow and Tehran, especially in energy. Since January, when most economic sanctions on Iran were lifted, the country has been in a rush to revive its energy industry, after four years of barely making ends meet. For this, it needs the assistance of foreign companies with production know-how and infrastructure investments.
  • Trump’s Opponents See Normal Americans as Deplorables — Paul Craig Roberts
    I guess we have all noticed that the holier-than-thou groups who whined that Trump wasn’t going to accept the outcome of the election refuse to accept it themselves. Because I was critical of the George W. Bush regime, the liberal-progressive-leftwing and homosexual/transgendered rights groups have me on their mailing lists. And it is unbelievable. The entirety of “the other America” refuses to accept the people’s decision. They think that their concerns are more important than the concerns of the American people, who they regard as nothing but a collection of racist homophobic rednecks.
  • The Great Con: Political Correctness Has Marginalized the Working Class
    So when the protected class of well-paid institutional “progressives” speak darkly of “reversing 40 years of social progress,” what they’re really saying is we’re terrified that the bottom 95% might be waking up to our Great Con of identity politics and political correctness. To understand the Great Con of political correctness, we must first grasp the decline of the working class (self-described as “the middle class”), i.e. those who must sell their labor to earn their livelihood.
  • EU Parliament wants to freeze Turkey membership talks
    The European Union's legislature is asking the bloc to freeze membership negotiations with Turkey over the government's heavy-handed crackdown following a failed coup in July. The European Parliament approved a non-binding resolution Thursday asking the 28-nation EU “to initiate a temporary freeze” on talks with Ankara until “disproportionate measures under the state of emergency in Turkey are lifted.” Anticipating the vote, Turkish President Recep Tayyip Erdogan said Wednesday that his country's “struggle for its stability and future won't be interrupted by (European legislators') raising and lowering their hands.”
  • Veterans to deploy for Standing Rock
    On December 4, hundreds of veterans plan to “deploy” to Standing Rock Indian Reservation in North Dakota to join in protest against the planned Dakota Access Pipeline. The event, Veterans Stand for Standing Rock, is a call for veterans to “assemble as a peaceful, unarmed militia” to “defend the water protectors from assault and intimidation at the hands of the militarized police force and DAPL security.” The organizers hope to prevent progress on the construction of the pipeline as well as draw national attention to the cause.
  • Pastor Lindsey Williams introduces Pastor David Bowen – November 24, 2016
    Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.
  • About that “Fair Share”
    There are two words that kept coming up over and over again over the last 20+ months during the US Presidential circus: “fair share”. Hardly a day went by without hearing that certain taxpayers “need to pay more of their fair share.” It sounds really great, and given the voter statistics, this idea resonated with tens of millions of people. After all, who could possibly be against fairness? When you dive into the numbers, however, the data doesn’t support this assertion at all. According to IRS figures, households that earn more than $1 million annually, roughly 0.4% of all taxpayers, pay a total of $364 billion in federal income tax. This amounts to roughly 27% of all the US federal individual income tax that’s collected. So in other words, the top 0.4%, pays 27% of the total tax bill.
  • This Is The Real Reason Why The Public Is Broke And The Middle Class Is Being Destroyed
    As we kick off the fourth week of trading in November, this is the real reason why the public is broke and the middle class is being destroyed. James Turk:  “It is good to see gold and silver starting the week in a positive way with their prices stabilizing, Eric. When you look at the recent dip in prices, it’s been a rough couple of weeks. But then again, when you see distortions like backwardation in the market, it is a good time to buy…
  • Look At This Shocking Preview Of How Devastating The Coming Worldwide Financial Destruction Will Be
    On the heels of another wild week, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, spoke with King World News about how devastating the coming worldwide financial destruction will be. World Will See Devastating Global Financial Destruction. Egon von Greyerz:  “Very few people realize the enormous wealth transfer that will take place in the next 5 years. Most will lose 75-90% of their wealth and some 100%. What is interesting is that investors needn’t lose most of their money if they took a few measures to protect their fortune. I often speak to Family Offices who built fortunes from the $100s of million to many billions. Without exception, they believe that it is there skill in building a business or investing that has created these fortunes. It clearly requires a lot of skill and a bit of luck to build a sizable fortune. But the magnitude of wealth today is not due to investment skills but the enormous creation of credit and money printing that the world has experienced since the creation of the Fed in 1913. This has created a global growth in asset values of unparalleled proportions…

BREAKING NEWS: December 2016 – Nathan Shepard is a Bible scholar with a background in theology and archaeology. He has spent more than 17 years studying the ancient scriptures and how the words of the prophets became historical fact over time. Now, his spine chilling theory links present times events to Bible prophecies in a clear and concise way… and foretells a very sinister future for the US. From that moment on, he decided that he must become a survival expert, train and prepare for the worst disaster in human history…

Pastor Lindsey Williams introduces Pastor David Bowen – November 24, 2016

Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter. If you are not a subscriber please subscribe for free by entering your name and email address in the box below.

Pastor David Bowen is pastor of Standing Stones Community Church in Phoenix, AZ. For more information about Pastor Dave please visit http://standingstonescc.org/

Pastor Dave is also creator of the website Interpreting The Times, understanding world events through scripture. You can find out more by visiting http://www.interpretingthetimes.com/

Please leave your thoughts and comments below regarding this new addition to Pastor Williams' newsletter each week.

Latest News Articles – November 24, 2016

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.

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Lindsey Williams - Latest News Articles

Latest News From November 18, 2016 to November 24, 2016:

  • We Are Being Set Up For Higher Interest Rates, A Major Recession And A Giant Stock Market Crash
    Since Donald Trump’s victory on election night we have seen the worst bond crash in 15 years.  Global bond investors have seen trillions of dollars of wealth wiped out since November 8th, and analysts are warning of another tough week ahead.  The general consensus in the investing community is that a Trump administration will mean much higher inflation, and as a result investors are already starting to demand higher interest rates.  Unfortunately for all of us, history has shown that higher interest rates always cause an economic slowdown.  And this makes perfect sense, because economic activity naturally slows down when it becomes more expensive to borrow money.  The Obama administration had already set up the next president for a major recession anyway, but now this bond crash threatens to bring it on sooner rather than later.
  • John Bolton Warns That Obama May Divide The Land Of Israel At The UN Before The Inauguration
    Is Barack Obama about to make the most catastrophic decision of his entire presidency? Former UN Ambassador John Bolton is warning that there is “a lot of speculation” over at UN headquarters right now about “resolutions that recognize a Palestinian state or that try and set a boundary for Israel based on the 1967 ceasefire lines”. Of course this would have to happen before the inauguration of Donald Trump on January 20th, because Trump has already made it quite clear that he will not support any UN resolution of such nature. Knowing that Trump is about to take office, advocates of the “two state solution” are putting an immense amount of pressure on Obama to support a UN Security Council resolution that would permanently divide the land of Israel while he is still in the White House, and at this moment we do not know what Barack Obama’s final decision will be.
  • US Pension Crisis: This is How Families Get Squeezed to Bail Out Pension Funds in Chicago
    Chicago is another trailblazer. But it’s not alone. Other cities are lining up behind it. Bankruptcy may still be the route to go. But until then, homeowners, renters, drivers, users of phones, etc. – in other words regular families who’re just sitting ducks – are going to get squeezed dry, in order to slow the momentum of the public-employee pension crisis eating up the city’s and the school district’s finances. “Because of a new accounting rule, Chicago now has to report its pension debt on its balance sheet,” explains Truth in Accounting. “As a result, the city’s reported pension debt grew from $8.6 billion in 2014 to $33.8 billion in 2015.”
  • What’ll Happen to Housing Bubble 2 as Mortgage Rates Jump?
    In the few days since the election, we got a flavor of what might happen when the bond market sees hues of inflation, expects the Fed to respond, and suddenly (after years of closing its eyes to it) dreads a tsunami of government deficit spending, on top of the flood of deficit spending already washing over the land. The US government borrowed on average $850 billion per year over the last two fiscal years, in total $1.71 trillion. Very soon, the gross national debt will hit $20 trillion. And with a little help from the next administration’s plans, the annual new debt to be issued by the US government could balloon far beyond $1 trillion a year.
  • Who’ll Get Hit by Fallout from the $11-Trillion Commercial Property Bubble in the US?
    Warnings about the loans, bonds, and commercial-mortgage-backed securities (CMBS) tied to the vast $11-trillion commercial property sector in the US have been hailing down for months. Moody’s Investor Services just warned about the rising delinquency rate of some $360 billion in CMBS it rates. Delinquencies of 60+ days jumped from 4.6% last year to 5.6% in September. Fitch Ratings has been fretting about valuations in the sector, and CMBS, for months. “Valuation and lending trends are not sustainable in the medium term,” it said most recently in its November report. It pinpointed debt backed by apartment buildings as a particular trouble spot. But now it’s also fretting about construction loans, which “experienced the highest loss severity in the last crisis, and we expect a similar trend in the next downturn,” it said.
  • Jim Rickards Discusses Looming Shut Down of the Entire US Economy
    In the following interview, legendary investor Jim Rickards echoes almost verbatim what Peter Schiff and Michael Snyder said recently in a post titled, Peter Schiff: Making America Great Again Will Be Much Harder Than Voters Think. In just a few short minutes, Jim confirms what myself and so many others have been trying to warn our readers about for well over a year now, which is that collapse of the global economic system is imminent. To put things in perspective, consider the fact that Deutsche Bank's derivative exposure alone, is more than 3x the continent of Europe's annual GDP, and that's just one bank.
  • Now it Begins to Unravel – The Credit Bubble Peak was Marked by “Totally Crazy Lending.”
    Debt is good. More debt is better. Funding consumer spending with debt is even better – that’s what economists have been preaching – because the consumed goods and services are gone after having been added to GDP, while the debt, which GDP ignores, remains until it is paid off with future earnings, or until it blows up. Corporations too have gone on a borrowing binge. Unlike consumers, they have no intention of paying off their debts. They issue new debt and use the proceeds to pay off maturing debts. Funding share-buybacks and dividends with debt is ideal. It’s called “unlocking value.” Debt must always grow. For that purpose, the Fed has manipulated interest rates to rock bottom. Actually paying off and reducing debt has the dreadful moniker, bandied about during the Financial Crisis, “deleveraging.” It’s synonymous with “The End of the World.”
  • 2017 Predictions for MSM, Markets and Gold-Gerald Celente
    Top trends researcher Gerald Celente started forecasting back in May 2016 that Trump would win. He was spot-on. What are the big trends and predictions in store for 2017? Mr. Celente gives us three of his top predictions coming up in this interview. We start with the mainstream media (MSM) that went all in for Hillary Clinton with actions associated with propaganda and not news. What’s going to happen to the MSM in 2017? Celente, who is Publisher of The Trends Journal, says, “It’s gone, and that is the top story coming out in the next Trends Journal too. . . . We are forecasting that this is the end of daily newspapers. They’ll go down to a couple of days a week. The flipside is more people to USAWatchdog.com and other media. We are not alternative media. They are the alternative media. They are the media that only promotes the establishment. The establishment is Hollywood to the White House to the media, and the people are disgusted with it. This is bigger than a populist movement.”
  • Self-driving car startup nuTonomy will begin testing its cars in Boston soon
    NuTonomy, a self-driving car startup spun out of MIT and based in Cambridge, Mass., will soon begin testing its autonomous vehicles in Boston. The company, which launched a commercial self-driving pilot in Singapore in August, has been given permission to operate its vehicles in the city’s Raymond L. Flynn Marine Park. NuTonomy, which also recently forged a partnership with Southeast Asia’s homegrown ride-hail player Grab, is moving relatively quickly toward its goal of launching a full-fledged on-demand network of self-driving cars in Singapore by 2018. (We rode in the self-driving car that is now operating in Singapore’s business district.)
  • FOMC Minutes Confirm Rate Hike Imminent “To Preserve Credibility”
    A lot has changed since the November 2nd FOMC statement – most notably the world has suddently become awesome again. The relatively benign statement (and election result) has left rate-hike odds at 100% for December but comment from Fischer and Yellen since have hinted concerns at the need for Trump fiscal spendfest. The main risk going in to the minutes was a dovish tilt for the future, tamping the current ‘nothing can stop us now' attitude (and we note the dollar leaked lower into the release). But sure enough, The Fed confirmed a rate-hike was approrpoate “relatively soon” and was “important to Fed credibility.”
  • Dallas Mayor Admits Police Pension Pushing City Toward “Fan Blades Of Municipal Bankruptcy”
    A few months ago we wrote that the Dallas Police and Fire Pension Fund was on the verge of collapse after a series of shady real estate investments resulted in massive markdowns of pension assets, the ouster of the fund's CIO and an FBI raid of it's largest real estate investment manager (see “Dallas Cops' Pension Fund Nears Insolvency In Wake Of Shady Real Estate Deals, FBI Raid”).  We summed up the fund's dilemma as follows: ‘The Dallas Police & Fire Pension (DPFP), which covers nearly 10,000 police and firefighters, is on the verge of collapse as its board and the City of Dallas struggle to pitch benefit cuts to save the plan from complete failure.  According the the National Real Estate Investor, DPFP was once applauded for it's “diverse investment portfolio” but turns out it may have all been a fraud as the pension's former real estate investment manager, CDK Realty Advisors, was raided by the FBI in April 2016 and the fund was subsequently forced to mark down their entire real estate book by 32%.  Guess it's pretty easy to generate good returns if you manage a book of illiquid assets that can be marked at your “discretion”.'
  • Obama Says He's Had A Scandal-Free Administration. Here Are 11 of His Scandals.
    President Barack Obama—who isn't going away after he leaves office—just unleashed this massive whopper: “I'm extremely proud of the fact that over 8 years we have not had the kinds of scandals that have plagued other administrations.” This is demonstrably false. Obama's presidency has been mired with numerous scandals that would be blared on the news 24/7 if he were a Republican. But because he's a Democrat, too many people buy Obama's argument that his presidency has been scandal-free.
  • Goldman Sachs Drops Out of R3 Blockchain Group
    Goldman Sachs Group Inc. has dropped out of the R3 CEV LLC blockchain group. The investment bank was one of nine original members of R3, founded in 2014 to explore the use of the distributed database technology in Wall Street infrastructure. The technology, best known for underpinning the system that trades the virtual currency bitcoin, has garnered increasing attention as a way banks can save billions of dollars and make old-fashioned processes faster and more efficient. But not all blockchain firms are the same, with different banks backing different ventures to exploit the technology. As of Oct. 31, Goldman let its membership lapse in R3, one of the higher profile efforts, but the firm will continue to work with blockchain technology, a spokeswoman for the investment bank said.
  • The Big Short: is the next financial crisis on its way?
    In the Oscar-winning The Big Short, Steve Carell plays the angry Wall Street outsider who predicts (and hugely profits from) the great financial crash of 2007-08. He sees sub-prime mortgages rated triple-A but which, in reality, are junk – and bets billions against the banks holding them. In real life he is Steve Eisman, he is still on Wall Street, and he is still shorting stocks he thinks are going to plummet. And while he’s tight-lipped about which ones (unless you have $1m to spare for him to manage) it is evident he has one major target in mind: continental Europe’s banks – and Italy’s are probably the worst. Why Italy? Because, he says, the banks there are stuffed with “non-performing loans” (NPLs). That’s jargon for loans handed out to companies and households where the borrower has fallen behind with repayments, or is barely paying at all. But the Italian banks have not written off these loans as duds, he says. Instead, billions upon billions are still on the books, written down as worth about 45% to 50% of their original value.
  • Initial Jobless Claims Collapse To Lowest In 43 Years – The US Economy Fell Into Recession Immediately After
    After an ugly October, November has seen two straight weeks of improvements in initial jobless claims (plunging 11.6%, 31k – the most since Jan 2015 – to 235k). This is the lowest initial jobless claims since Nov 1973… The US Economy fell into recession the next month.
  • UN recommits to combating climate change
    Approximately 200 nations on Thursday reaffirmed their commitment to combating climate change enshrined by the Paris Agreement at the annual UN climate conference in Morocco.
    This came amid fears that the incoming US administration would backtrack on the deal. A “Marrakesh Action Proclamation” issued at the conference called on member states to boost funding for projects to cope with the effects of climate change. “We call for the highest political commitment to combat climate change, as a matter of urgent priority,” the statement read.
  • Cash Crisis in India Hitting Gold Sales Hard
    The domestic gold market in India is facing an upheaval as traders place an increasing number of bulk, short-term orders on fears Prime Minister Narendra Modi could seriously throttle overseas imports of gold. The traders’ fears stem from Modi’s plan to eliminate so-called black money from India’s monetary system by demonetizing the 500 and 1,000 rupee notes. The bills were previously the country’s largest currency denomination. Modi’s hard-line demonetization efforts are meant to root out untaxed funds held in secret by Indian citizens. It’s estimated up to a third of the country’s annual demand (1,000 tons of gold) is paid for with black money. The intent of demonetization was to cut down on corruption by targeting Indians holding “large amounts of undeclared wealth to deposit the money at banks and make their assets official,” according to the L.A. Times.
  • U.S. economy is running below potential, Chicago Fed gauge shows
    A measure of national economic activity improved in October but its less-volatile, three-month average weakened, according to the Chicago Federal Reserve on Monday — one sign that below-potential economic growth could limit Fed aggressiveness with interest-rate hikes. The Chicago Fed national activity index rose to negative 0.08 in October from negative 0.23 in September as factory production, housing and consumer spending, as well as the business orders that make up the index mostly improved; employment had a neutral effect. The October reading still shows U.S. economic growth running below its potential.
  • The “Trump Effect” Now Versus Later
    Peter Schiff recently appeared on Alternative Media Television (AMTV) to discuss the so-called “Trump effect” on the US economy. So far, the stock market has gone through some downs after the president-elect’s surprise win and now back up with the Dow Jones average nearing record highs. There’s also been last week’s bond rout, which sent long-term yields soaring as bond prices dropped. The yield on the 10-Year Treasury saw its largest two-week increase since 2001, up 5.9 basis points to 2.337%. The selloff was driven by “rising inflation expectations and the market’s near-certainty that the Federal Reserve will raise interest rates in December,” according to MarketWatch.
  • Trump Says He Will Issue Executive Order On First Day In Office Withdrawing U.S. From TPP
    In a video message released moments ago by Donald Trump, the President-Elect announced that he has asked his team to develop a list of executive actions for his first day as president and announced that he would issue an executive order on his first day of office, withdrawing the US from the Trans Pacific Partnership, and would issue a notification of intent to withdraw from the TPP, voiding Obama's “free-trade legacy.” Trump stated that his agenda “will be based on a simple core principle, putting America first… whether it's producing steel, building cars, or curing disease, I want the next generation of production and innovation to happen right her on our great homeland.” He added that he would issue a rule, along the lines of what he proposed during his Gettysburg address, that for every new government regulation, two existing regulations must be eliminated, and said that he will direct the labor department to investigate abuses of visa programs.
  • Former CEO Of UBS And Credit Suisse: “Central Banks Are Past The Point Of No Return, It Will All End In A Crash”
    Remember when bashing central banks and predicting financial collapse as a result of monetary manipulation and intervention was considered “fake news” within the “serious” financial community, disseminated by fringe blogs? Good times. In an interview with Swiss Sonntags Blick titled appropriately enough “A Recession Is Sometimes Necessary”, the former CEO of UBS and Credit Suisse, Oswald Grübel, lashed out by criticizing the growing strength of central banks and their ‘supremacy over the markets and other banks’. The former chief executive officer claimed that the use of negative interest rates and huge positive balance sheets represent ‘weapons of mass destruction’. He calls for an end to the use of negative interest rates.
  • ‘First Brexit, Then Trump and There is More of This to Come!'
    Hailing 2016 the year of ‘two big political revolutions’ Nigel Farage said Angela Merkel and Barack Obama are ‘in denial’ over the public’s rejection of the political establishment. Speaking on Fox News, the UKIP leader said Obama and the German Chancellor ‘simply can’t face up to the fact that their worldview has taken an absolute beating in the year of 2016′. He has taken to social media to call 2016 ‘the year of political revolution’ and the ‘underdog’ with the Brexit vote in the UK and the election of Donald Trump in America.
  • Smoking gun emails reveal Blair's ‘deal in blood' with George Bush over Iraq war was forged a YEAR before the invasion had even started
    A bombshell White House memo has revealed for the first time details of the ‘deal in blood’ forged by Tony Blair and George Bush over the Iraq War. The sensational leak shows that Blair had given an unqualified pledge to sign up to the conflict a year before the invasion started. It flies in the face of the Prime Minister’s public claims at the time that he was seeking a diplomatic solution to the crisis. He told voters: ‘We’re not proposing military action’ – in direct contrast to what the secret email now reveals.
  • The 1% plotting to halt Brexit & bring back Tony Blair, leaked memo suggests
    Blairite millionaires, politicians and media tycoons are reportedly plotting to stop Brexit in its tracks, a leaked memo suggests. Virgin Group chief Sir Richard Branson is apparently bankrolling the scheme. A memo leaked to the Independent suggests the plot has been underway for months, with financial backing secured and a potential CEO for the group identified. The newspaper claims the information was found in an email penned by Tony Blair’s former health secretary and right-hand man Alan Milburn.
  • Blair is back! Former PM announces he is ‘returning to British politics' because the Tories are ‘screwing up Brexit and Jeremy Corbyn is a nutter' as he prepares to meet with Theresa May
    Tony Blair is hunting for a new office near Westminster as he plots a return to frontline politics to influence the Government's approach to Brexit. The former prime minister believes the Tories are ‘screwing up Brexit' and views Jeremy Corbyn is ‘a nutter,' according to a source who has spoken to Mr Blair. He thinks there's a ‘massive hole in British politics' that he can fill. Mr Blair is setting up a new institute that will seek to influence and advise the Brexit process.
  • This Is Where I Get Off
    We began writing on the War on Cash some time ago, when it was still just a theoretical ploy that we believed banks and governments were likely to employ as their economic adventurism continued to unravel. But, in the last year, several countries have, as a part of the War on Cash, begun removing larger bank notes from circulation in order to force people to perform all economic transactions through the banking system, ensuring that the banks would gain total control over the movement of money. Of course, the banks could not admit their true goal to the public. They instead used the governments to claim that the measure was being undertaken to restrict crime (money laundering, drug deals, black marketing, terrorism, etc.).
  • $100 Billion Chinese-Made City Near Singapore ‘Scares the Hell Out of Everybody'
    The landscaped lawns and flowering shrubs of Country Garden Holdings Co.’s huge property showroom in southern Malaysia end abruptly at a small wire fence. Beyond, a desert of dirt stretches into the distance, filled with cranes and piling towers that the Chinese developer is using to build a $100 billion city in the sea. While Chinese home buyers have sent prices soaring from Vancouver to Sydney, in this corner of Southeast Asia it’s China’s developers that are swamping the market, pushing prices lower with a glut of hundreds of thousands of new homes. They’re betting that the city of Johor Bahru, bordering Singapore, will eventually become the next Shenzhen.
  • Morocco wants to build a new city from scratch—with China’s help
    Morocco is working on a $10 billion project with the Chinese group Haite to develop an industrial city that will host some 300,000 locals. The project envisions a large Chinese-style industrial park on the edge of the Mediterranean, built on about 2,500 acres with room to expand up to nearly 5,000 acres. Morocco’s King Mohammed VI has been personally involved in the improvement in Moroccan-Chinese ties that preceded the deal. The King met with president Xi of China during an official visit to Beijing this year, which led to the signing of a strategic partnership.
  • Soros Army Forming Liberal Version Of Judicial Watch
    The latest efforts by George Soros to subvert President-elect Donald Trump involve taking a page out of the conservative playbook. Soros and his allies have reportedly discussed launching a liberal version of the government transparency group Judicial Watch, which Politico reports “spent much of the past eight years as a thorn in the Obama administration’s side filing legal petitions under the Freedom of Information Act.”
  • Obama and Angela Merkel Blame Internet and Social Media for Disrupting Globalism
    President Barack Obama and German Chancellor Angela Merkel are blaming the internet for disrupting the forces of globalism, suggesting that technology is making it more difficult to unite people behind a common purpose. “Because of the internet and communications, the clash of cultures is much more direct,” Obama said during a press conference on his trip to Berlin. “People feel, I think, less certain about their identity. Less certain about economic security.”
  • REVEALED: The Real Fake News List
    We've seen the make-shift “fake news” list created by a leftist feminist professor. Well, another fake news list has been revealed and this one holds a lot more water. This list contains the culprits who told us that Iraq had weapons of mass destruction and lied us into multiple bogus wars. These are the news sources that told us “if you like your doctor, you can keep your doctor.” They told us that Hillary Clinton had a 98% of winning the election. They tell us in a never-ending loop that “The economy is in great shape!”
  • Are You Prepared For The Unwinding Of The Biggest Bubble In History?
    With the Thanksgiving Day holiday on Thursday of this week, are you prepared for the unwinding of the biggest bubble in history? Here is a portion of what Peter Boockvar wrote today as the world awaits the next round of monetary madness:  I want to start the week by saying I believe ‘secular stagnation’ is bulls**t. As a believer in free trade and comparative advantage and thus with hopes that no trade battles take place in the next 4 years, I want to reiterate my optimism over the potential liberation of the US economy via lower and more competitive tax rates and an easing of the regulatory strait jacket all around the economy. This said, before we get to that economically better place (which we no doubt will I believe) I can’t help but be on alert about what the implications are of an unwinding of the biggest bubble ever created, that of credit via the helping hands of our central bankers…
  • EURO PLUNGE: Single currency could ‘COLLAPSE' against dollar amid record losing streak
    THE euro has plunged to its lowest level against the dollar since December 2015, as experts warned the currency could collapse next week amid concerns for the eurozone economy. Investors have frantically dumped the single currency over 10 consecutive trading sessions – the worst performance since the euro was introduced in 1999. Head of the European Central Bank (ECB) Mario Draghi failed to ease fears after warning that the eurozone recovery depends on action by monetary policymakers.
  • So Much For Electing An Outsider
    During his run for the presidency, Donald Trump took the occasional break from insulting women and minorities to toss off some decent – even exciting – policy ideas. Term limits for congressmen and a ban on politicians becoming lobbyists, for instance, were straight from the Libertarian good-government Christmas list. But best of all was the effective break-up of the big banks through the re-imposition of Glass-Steagall, a law passed during the Great Depression to separate taxpayer-protected commercial banks from free-to-fail investment banks.
  • Russia Deploys Nuclear Missiles In Retaliation To NATO “Threats”
    While the detente between Russia and US president-elect Donald Trump could not have come at a more tense time, the Kremlin appears to be accelerating its head-on collision course with NATO, and as a highly placed defense official said on Monday, Moscow will deploy S-400 surface-to-air missiles and nuclear-capable Iskander systems in the exclave of Kaliningrad in retaliation for NATO deployments, confirming previous media reports of Russian intentions to once again blanket central Europe with potential nuclear ICBM coverage. While Russia has previously said it periodically sends Iskanders to Kaliningrad, until now it has always said these were routine drills. Moscow has not linked the moves explicitly with what it says is a NATO military build-up on Russia's western borders.
  • Border Patrol union welcomes Trump's wall as ‘vital tool'
    The National Border Patrol Council has high hopes for President-elect Trump’s border security policies. The union’s president, Brandon Judd, has been advising the Trump transition team. The union has encouraged the building of a border wall and changing enforcement policies put in place in the past four years. San Diego-based Shawn Moran, vice president of the union, said a wall on the border would be a “vital tool,” and it’s difficult to say exactly where along the border a wall is needed.
  • More Electors Get Death Threats From Hillary Voters
    A member of the electoral commission in Texas says his colleagues are getting death threats as angry Hillary supporters ramp up the pressure before electors cast their vote on December 19th. Hillary voters around the country are bombarding electors with emails, some of them threatening, in an effort to force them to vote against the outcome of the presidential election. “At first everyone was kinda enchanted by it. Now all the electors are starting to get beaten down. There are some electors who have been threatened with harm or with death,” Texas elector Alex Kim told NBC 5.
  • European Union Orders British Press Not To Report when Terrorists Are Muslims
    This is the moment where hate speech laws become a greater threat to democracy and freedom of speech than hate speech itself. In France, Muslim terrorists are never Muslim terrorists, but “lunatics,” “maniacs” and “youths”. To attack freedom of the press and freedom of speech is not anti-hate speech; it is submission. By following these recommendations, the British government would place Muslim organizations in a kind of monopoly position: they would become the only source of information about themselves. It is the perfect totalitarian information order. Created to guard against the kind of xenophobic and anti-Semitic propaganda that gave rise to the Holocaust, national hate speech laws have increasingly been invoked to criminalize speech that is merely deemed insulting to one's race, ethnicity, religion, or nationality. It is disturbing to wonder how long the EU will strongly engage its experts and influence to cut through existing legal obstacles, in a quest to criminalize any type of criticism of Islam, and to submit to the values of jihad.
  • Trump Announces Policy Plans
    President-elect Donald J. Trump vowed in a YouTube video to focus on creating jobs and reducing regulations as soon as he takes office.
  • Jeff Sessions may prosecute ‘sanctuary cities’ if confirmed as attorney general
    Sen. Jeff Sessions is on record saying so-called “sanctuary cities” that protect illegal immigrants should be prosecuted. He himself may get that chance next year. Mr. Sessions is president-elect Donald Trump’s pick to be the next attorney general, and if he’s confirmed, he will mark a 180-degree turn from the Obama administration on a host of issues, but nowhere more so than on immigration, where he’s been the Senate’s leading crackdown proponent.
  • US Bond Market Liquidity Collapses: “It's Worse Than Brexit”
    Two weeks ago we warned of the “unintended consequences” of Dodd-Frank which are likely to crush bond market liquidity. On the day of Brexit we got a glimpse of what can happen when the world's most liquid bond market suddenly isn't and as one veteran bond trader exclaimed today, US Treasury market liquidity is “worse than Brexit.” Following the worst two-week loss for bonds… ever…
  • San Fran Home Sales Crash To Lowest Level Since 2008 As Pricing Reset Gets Underway
    We have frequently written over the past couple of quarters about the bubbly San Francisco housing market that looks set for another epic reversal as home prices have reached staggering new highs just as employment levels seem to be rolling over.  With home prices now implying that only 10-20% of residents can afford the “median” priced home, it's certainly not difficult to understand why demand may be waning. According to HousingWire and a new report from PropertyRadar, home sales in the Bay Area are finally starting to rollover with Q3 YTD volumes down 10.3% YoY, reflecting the fewest number of homes sold over that same time period since 2008.  Perhaps even more staggering is that distressed property sales fell 35.7% YoY so far in 2016, to the lowest level since 2001, as “low-priced” inventory dried up and buyers have found it financially impossible to move up to higher price tiers.
  • Demonetisation: Govt mulls limits on cash withdrawals, transactions for both individuals, companies 
    In the government's determined push against the parallel economy, the next step after the disruptive overnight ban on high value notes could be a cap on cash withdrawal, transactions and amounts that can be held by individuals and companies, people in the know said. Recently some senior tax officials and experts were asked their opinion about such a step. The senior government officials seeking feedback or opinion on the issue is one of the main reasons why industry trackers say that such a step could be in the offing, said two people who spoke to ET.
  • EU Army set to be agreed TODAY – and BRITAIN will foot the £420m-a-year bill
    THE EU will today ratify the creation of a continent wide super army that will be up and running next year – and blame BREXIT for its creation. Brussels politicians convened in the French city of Strasbourg to thrash out the plans that will cost taxpayers' £420m-a-year. They will vote on the issue to establish an “EU-wide system for the coordination of rapid movement of defence forces personnel” across Europe later today. If agreed Britain will not only be forced to foot the bill because it is timetabled for before the triggering of Article 50, but it will also be legally drawn into it.
  • Sweden leads the race to become cashless society
    In 1661, Stockholms Banco, the precursor to the Swedish central bank, issued Europe’s first banknotes, on thick watermarked paper bearing the bank’s seal and eight handwritten signatures. Last year – as Britain did last week – Sweden launched a new series of notes, cheery affairs featuring 20th-century Swedish cultural giants such as Astrid Lindgren, the creator of Pippi Longstocking, Greta Garbo and filmmaker Ingmar Bergman. But like its Nordic neighbours Norway, Denmark and Finland, Sweden is fast becoming an almost entirely cashless society.
  • Citibank is the first Australian bank to stop taking cash
    Up is down and down is up. We are now living in a bizarre era when a bank will refuse to take cash. Citibank Australia has become the first Australian bank to go completely cashless, notifying customers that its branches will no longer handle notes and coins from November 24. “We have seen a steady decline in the demand for cash services in our branches — in fact less than 4% of Citi customers have used this service in the last 12 months,” said Citibank head of retail bank Janine Copelin. “This move to cashless branches reflects Citi’s commitment to digital banking and we are investing in the channels our customers prefer to use.”
  • Speculators Are Finally Bailing Out Of Gold – And That’s A Good Thing
    All this talk of massive new infrastructure spending financed with a tsunami of freshly-minted currency should be lighting a fire under gold. That it hasn’t is a testament to how out-of-whack the precious metals market had gotten during the first six months of this year. As gold rose, the futures contract traders whose games tend to dictate near-term price action had set the metal up for a fall. Specifically, the speculators (who are always wrong at the extremes) were ridiculously long. With the suckers all-in, a big correction was needed to restore balance. But it didn’t come. Several months passed with gold treading water, leading some to wonder if the paper market tail had finally stopped wagging the physical market dog.
  • Globalists Will Crash Markets and Blame it on Trump-Rob Kirby
    Macroeconomic analyst Rob Kirby explains the violent moves in the markets by saying, “We really do not have markets anymore. We have interventions, and we have massive fraud committed on a daily basis in what we call our capital markets. Our capital markets have become nothing more than a crime scene.” Look no further than the gold market on election night. The stock market was 800 points down in the red, and gold was way up in the black.  All that reversed in a matter of a few days.  How did the powers pull off a stunning reversal, especially with the skyrocketing price of gold?  Kirby says, “It was roughly 8,000 metric tons from late election night through Friday.  It’s up in the area of three years of global production in the paper markets in the space of three days.”
  • Trump won the popular vote?
    Based on reports in mainstream media, Hillary Clinton won the popular vote for President. The facts, however, indicate otherwise. Before getting into that, we should consider why that is important. The answer is that most people think that whoever gets the most votes is supposed to be the winner. The Constitution, on the other hand, says otherwise. When the Constitution was written, it was understood that the federal government was beholden to the states that created it, not to the general citizenry. Voters chose their state representatives, but the states chose the Senators and the President.
  • At This Current Pace, A Record-Shattering 2.4 Trillion Dollars Will Be Added To The National Debt This Year
    Barack Obama is about to become the 20 trillion dollar man. With less than two months to go in his second term, the U.S. national debt stands less than 150 billion dollars away from the 20 trillion dollar mark. And at the pace that the debt is increasing, it seems almost certain that we will cross 20 trillion dollars before Inauguration Day. After promising us that “deficits are under control”, the federal debt jumped by more than 1.3 trillion dollars last fiscal year, and so far this year it is on pace to rise by a record-shattering 2.4 trillion dollars. This is a recipe for national suicide, and yet it wasn’t even a major issue during the recently concluded presidential campaign. It is really, really hard to spend a trillion dollars. For example, if you were alive when Jesus was born and you had spent a million dollars every single day since that time, you still would not have spent a trillion dollars by now (From year 0 to 2016 at $1m per day is just under $736Bn).
  • Why We Are Still In ‘The Danger Zone’ Until January 20th, 2017
    Donald Trump is not the president yet, and Barack Obama could still do an extraordinary amount of damage during his last two months in the White House.  Prior to the election, I described the period of time ending on January 20th as “the danger zone”, and my outlook has not changed just because Donald Trump was victorious on election night.  As you will see, the next two months are an absolutely critical time, and if we can get through January 20th without something major happening perhaps we can breathe a little bit easier (at least for a while).  On the other hand, the events of the next two months could easily plunge this country into a period of unprecedented chaos.  A lot of people are feeling really good about things right now because of Trump’s victory, but now is definitely not a time to relax and let down our guard.
  • The Drought That Was Prophesied To Hit The Southern United States Is Now Here
    A record-setting drought has gripped the southern United States, but most people have no idea that this drought is the fulfillment of a prophecy that was given four years ago. Back in 2008, John Paul Jackson released a DVD entitled “The Perfect Storm” in which he detailed many of the prophetic events that God showed him would soon come to America. In 2012, he released a video update to “The Perfect Storm” that you can view on YouTube right here. In that update, he shared a list of future headlines that God had revealed to him over the years. Some of these headlines have already happened since that time, and now we are watching another be fulfilled right in front of our eyes. Specifically, I am referring to this headline: “Record High Temps Accompany Record Drought Swept South”.
  • What Donald Trump Just Did Is Going To Have Social Conservatives In A State Of Complete Shock
    This is NOT what most social conservatives were expecting. Like millions of other Americans, I greatly celebrated when Donald Trump pulled off a miracle on election night. But within a week of his stunning election victory, many social conservatives already feel like they are being stabbed in the back. On Sunday, 60 Minutes aired a post-election interview with Trump in which he explained that his stance on gay marriage is that it is “settled” and that he has no plans to try to overturn the Supreme Court decision legalizing it. According to CNN, this answer “could leave conservatives worried”…
  • 11 Very Depressing Economic Realities That Donald Trump Will Inherit From Barack Obama
    It would be a grave mistake to understate the amount of damage that has been done to the U.S. economy over the past eight years.  In this article, I am going to share some economic numbers with you that are extremely sobering.  Anyone that takes a cold, hard, honest look at the numbers should be able to see that our economy is in terrible shape.  Unfortunately, the way that we see things is often clouded by our political views.  Up until the election, Democrats were far more likely then Republicans to believe that the economy was improving, but now that is in the process of completely reversing.  According to Gallup, only 16 percent of Republicans believed that the economy was getting better before the election, but that number has suddenly jumped to 49 percent after Trump’s election victory.  And the percentage of Democrats that believe that the economy is getting better fell from 61 percent to 46 percent after the election.
  • The Election Of Donald Trump Is Already Having An Enormous Impact On The Economy
    The election of Donald Trump has sent shockwaves through the U.S. economy and the U.S. financial system.  Since November 8th, the Dow has hit a brand new all-time record high, the U.S. dollar has strengthened greatly, and bank stocks are way up.  But not all of the economic news is good news.  Unlike stocks, bonds have reacted very negatively to Trump’s election victory.  The past week has been an absolute bloodbath for bond traders, and as you will see below this is going to have dramatic implications for all U.S. consumers moving forward. Over just a two day period, more than a trillion dollars was wiped out as bond yields spiked all over the globe.  As CNN has noted, this type of “violent reaction” in the bond market has only happened three other times within the past ten years…
  • Britain has passed the ‘most extreme surveillance law ever passed in a democracy'
    It's 2016 going on 1984. The UK has just passed a massive expansion in surveillance powers, which critics have called “terrifying” and “dangerous”. The new law, dubbed the “snoopers' charter”, was introduced by then-home secretary Theresa May in 2012, and took two attempts to get passed into law following breakdowns in the previous coalition government. Four years and a general election later — May is now prime minister — the bill was finalized and passed on Wednesday by both parliamentary houses. But civil liberties groups have long criticized the bill, with some arguing that the law will let the UK government “document everything we do online”.
  • Ron Paul: Warning to Trump — “Shadow Government” Will Infiltrate Your Cabinet
    Dr. Ron Paul appeared in an RT interview speaking about Donald Trump’s election. He made some curious statements about “neocons” and an infiltration by a “shadow government,” and her warned Trump about placing neoconservatives in his cabinet. Trump is currently considering neocons for at least 5 of his cabinet positions. Many of them have links to Wall Street, specifically Goldman Sachs, and almost all of them are members of the Council on Foreign Relations, whose honorary chairman is David Rockefeller.
  • VW cuts 30,000 jobs in emission scandal fallout
    Volkswagen (VW) is to cut its workforce by 30,000 over the next five years as it acts to save costs following the diesel emissions scandal. The German carmaker said it was committed to no compulsory redundancies under the union deal, with 23,000 of the positions to go at factories in its home market and the rest in North America and Brazil. VW said the job losses were “socially acceptable” as it prepared to relaunch the brand by 2020 – tainted by the rollout of software in 11 million diesel vehicles that was designed to cheat emission testing.
  • Two-Thirds Of Workers In Developing Nations To Be Replaced by Robots, Report Warns
    An alarming new report from the United Nations is the latest in a litany of studies suggesting that the coming age of automation and workforces dominated by robots will be upon us much faster than previously thought. The U.N. now claims two-thirds of the human labor force in developing nations will be replaced by automation. The U.N. says a Universal Basic Income will be necessary as a stop-gap for the 75% of humans left without work. Anti-Media previously reported on predictions that half the American workforce could be replaced by automation within the next two decades. Another report’s statistics suggested automated software could fleece 1.7 million truckers of their jobs within a decade. The U.N.’s UNCTAD report notes that taken on a global scale, we’re seeing“premature deindustrialization.”
  • Silver Prices May Rise with Infrastructure Projects
    The president of the United Auto Workers said he will sit down and talk with President-Elect Trump to try and crush the North American Free Trade Agreement, describing NAFTA was “a problem.”  The union of auto workers is an early advocate for working with Trump to change trade agreements seen as being detrimental to American workers. Other industry organizations are likely to ally themselves with the future president, who made trade a cornerstone of his campaign promise to “Make America Great Again.”
  • Chelsea Clinton reportedly being groomed for congressional run
    Former first daughter Chelsea Clinton reportedly is being mooted as a future congressional candidate. The New York Post reported that Clinton, 36, is being eyed to take Rep. Nita Lowey's place when the 79-year-old incumbent decides to leave the House of Representatives.  Lowey represents New York's 17th District, which covers part of Westchester County, including Bill and Hillary Clinton's hometown of Chappaqua. The Post reported that the Clintons have purchased the home next door to theirs, in which they plan to install Chelsea, her husband and their two children.
  • Donald Trump Boosts Europe's Anti-Establishment Movement
    Donald Trump's electoral victory has come as a shock to Europe's political and media establishment, which fears that the political sea change underway in the United States will energize populist parties in Europe. Anti-establishment politicians, many of whom are polling well in a number of upcoming European elections, are hoping Trump's rise will inspire European voters to turn out to vote for them in record numbers. Commenting on Trump's victory, Dutch lawmaker Geert Wilders, wrote: “America has just liberated itself from political correctness. The American people expressed their desire to remain a free and democratic people. Now it is time for Europe. We can and will do the same!”
  • China fires its first warning shot, warning iPhone sales will suffer if Trump starts a trade war
    Apple iPhones and other U.S. goods could suffer sales hits in China if President-elect Donald Trump goes through with his “naive” plan of slapping a large import tariff on Chinese products, a state-backed newspaper warned on Sunday. During his election campaign this year, Trump spoke of a 45 percent import tariff on all Chinese goods while failing to outline how it would work. Should any such policy come into effect, China will take a “tit-for-tat approach”, according to an opinion piece in the Global Times, a newspaper backed by the Communist party.
  • Trump Prepares To Label Muslim Brotherhood A ‘Terror Organization’
    Last November, Sen. Ted Cruz (R-TX) co-sponsored legislation along with Rep. Mario Diaz-Balart (R-Fla.) demanding that President Obama label the Muslim Brotherhood an official foreign terrorist organization. The Muslim Brotherhood Terrorist Designation Act prefaces its conclusions with comprehensive research and historical precedent. “Multiple countries have declared the Society of the Muslim Brothers (commonly known as the  ‘‘Muslim Brotherhood’’) a terrorist organization or proscribed the group from operating in their countries,” begins the bill. The bill didn’t make it through the winding roads of bureaucracy as a result of the Obama administration’s apparent sympathies for the Islamist group, but now, President-elect Donald Trump’s advisors are vowing to push through that same piece of legislation when the Republican victor assumes the oath of office in January.
  • As Venezuela's Currency Loses 40% In One Month, Maduro Dances
    The last time we updated on the value – we use the term very loosely in this case – of the Venezuela currency, the Bolivar in the black market, was at the start of November, when one US dollar purchased 1,567 bolivars in the street. Fast forward not even two full weeks later, and the Venezuela currency has now officially crossed the “nice, round number” psychological hyperinflation barrier of 2,000/USD, trading at 2,014 today, crashing by 22% since our last check, and an vomit-inducing 43% in the past month. The exponentially-rising chart below shows what hyperinflation in a destroyed socialist economy looks like.
  • Two-thirds of the world's internet users live under government censorship: report
    Two-thirds of the world's internet users live under regimes of government censorship, according to a report released today. The report from Freedom House, a pro-democracy think tank, finds that internet freedom across the globe declined for a sixth consecutive year in 2016, as governments cracked down on social media services and messaging apps. The findings are based on an analysis of web freedom in 65 countries, covering 88 percent of the world's online population. Freedom House ranked China as the worst abuser of internet freedom for the second consecutive year, followed by Syria and Iran. (The report does not include North Korea.) Online freedom in the US increased slightly over the year due to the USA Freedom Act, which limits the bulk collection of metadata carried out by the National Security Agency (NSA) and other intelligence agencies.
  • Online ‘Freedom' Plunges For 6th Straight Year As Social Media Censorship Grows
    Internet freedom has declined for the sixth consecutive year, with more governments than ever before targeting social media and communication apps as a means of halting the rapid dissemination of information, particularly during anti-government protests. According to the latest Freedom on the Net reports, two-thirds of all internet users live in countries where criticism of the government, military, or ruling family are subject to censorship.
  • All Eyes On Argentina As Lithium Boom Takes Shape
    Lithium is poised to be the longest-running mining bull market of the century, and independent, junior minors like Millennial Lithium Corp. are having their stocks pushed higher and higher as this market gets ready to explode under a soaring demand and tight supply situation. The disruptive force of lithium in the energy market is unprecedented, with prices tripling this year and the fantastically tight supply prognoses promising explosive profits for new entrants. And the global ground zero is lithium-rich Argentina, where massive resources have combined with a new business-friendly political atmosphere to create a situation in which everyone is talking about a lithium cartel, and the rise of the next energy barons.
  • China: Trump's First Crisis?
    There is a growing possibility that China will be at the epicentre of President-elect Trump’s first crisis, triggered by concerns over the potential impact of protectionist measures on China’s trade surplus, which currently supports the increasingly fragile financing chains supporting corporate debt that the IMF estimates at around 155% of GDP. Trump’s pledges to impose tariffs of up to 45% on Chinese manufactured goods threatens to drive a significant uptick in the amount of capital flight from the renminbi, while the prospect of measures to change the US tax system to encourage companies to repatriate cash to the are already pulling the dollar higher. At this point the likelihood of Trump actually delivering on his protectionist rhetoric is secondary to the psychological impact on resident corporate and household savers of any potential threat to the current uneasy equilibrium within the Chinese economy.
  • Wall Or No Wall: Trump Needs The Mexican Oil Industry
    Two of Donald Trump’s main pledges during the presidential race were building a wall along the border with Mexico, and making the U.S. energy-independent. Now that the election is over, these issues are coming to the fore. First, the president-elect said that the wall, which he mentioned on the campaign trail and in numerous debates, is still very much on the table, though what type of “wall” that may be is an unknow. Second, he said he planned to start deporting illegal aliens—those with criminal records—which could amount to as many as three million individuals. Despite “The Wall”, the deportation of Mexican citizens, and several grandiose comments about Mexico paying for said wall—not to mention Trump’s proclamation that he would raise import tariffs up to 35 percent on some Mexican products—Mexico’s President Enrique Pena Nieto was among the first of the world leaders to congratulate Trump on his victory.
  • Pastor Lindsey Williams introduces Pastor David Bowen – November 17, 2016
    Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.
  • Will Your Energy Bill Get More Or Less Expensive Under Pres. Trump? 
    Environmentalists are panicking that President-elect Donald Trump will trigger an energy jobs disaster by cutting green subsidies, but David Holt, president of the Consumer Energy Alliance, thinks exactly the opposite. Green media is positively panicking that Trump’s cuts could literally end all life on Earth and cause a hypothetical jobs crisis by destroying the green energy industry. Conversely, Trump appears to be very supportive of industries that slash carbon dioxide (CO2) emissions while creating jobs.
  • Will Trump Do What Reagan Couldn’t?
    Finally, it’s over. We were both delighted and appalled by the news. A smile spread over our face… and our steps lightened… as we looked ahead to four years without Hillary Clinton’s know-it-all mug in the news. But our shoulders stooped, too, as we listened to Donald Trump’s victory announcement. As we predicted, Americans got the president they deserved. Now, “no dream is too big.” No nightmare is out of bounds, either. Dow futures fell as much as 800 points as news spread and investors thought the end of the world had come [that didn’t last long, ed.]. But here at the Diary, we were serene. We had mocked both candidates and mooned the sacred rite of democracy – the election itself. Why?

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