Elite What Next? Trump Has Won:
* Why did Henry Kissinger go to Trump Towers to meet with Donald Trump?
* Elite total devastation
* The greatest opportunity of your lifetime
* How to take advantage of the Elite
* Isaiah 45:1 – Cyrus
* Revised agenda of the New World Order
*** You have to get gold and silver, immediately! You must hold it in your hand. You can buy Gold and Silver Coins and Bars at Wholesale prices and with Free Shipping on Orders over $199, through our Recommended Gold and Silver Dealer. Check out the special gold and silver offers here.
*** If you have an IRA or 401k you need to rollover your Retirement Account into Gold and Silver Bullion as soon as possible! Time is short! You can find out more about the process of turning your paper assets into Physical Gold and Silver by Clicking Here and talking to this Gold and Silver IRA Specialist.
This DVD was released on December 12th, 2016. It's more poignant now than it ever was. Prepare immediately!
This presentation of Elite What Next? Trump Has Won from Chaplain Lindsey Williams is required viewing by all Americans. Please share this presentation with everyone you know.
Pastor Lindsey Williams shares the Elite Plans for 2016 and warns to take immediate action:
* Who will be the next president of the U.S.?
* Why no financial collapse in 2015?
* Hear from someone in contact with the Elite.
* Political Correctness.
* Five firearms every American should own.
* Is war inevitable?
*** You have to get gold and silver, immediately! You must hold it in your hand. You can buy Gold and Silver Coins and Bars at Wholesale prices and with Free Shipping on Orders over $199, through our Recommended Gold and Silver Dealer. Check out the special gold and silver offers here.
*** If you have an IRA or 401k you need to rollover your Retirement Account into Gold and Silver Bullion as soon as possible! Time is short! You can find out more about the process of turning your paper assets into Physical Gold and Silver by Clicking Here and talking to this Gold and Silver IRA Specialist.
This DVD was released on January 27th, 2016. It's more poignant now than it ever was. Prepare immediately!
This presentation of Elite Plans For 2016 from Chaplain Lindsey Williams is required viewing by all Americans. Please share this presentation with everyone you know.
From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.
Latest News From December 23, 2016 to December 29, 2016:
- The Big Theme for 2017: Global Cash Bans
The big theme for 2017 will be Cash… not a pro-deflationary “time to own cash” theme… but a “let’s ban it as quickly as possible” theme. Let’s review. In 2016: 1) Former Secretary of the Treasury, Larry Summers, called for the US to do away with the $100 bill. 2) Former Chief Economist for the IMF, Ken Rogoff, published his book The Curse of Cash. 3) The New York Times and Financial Times publicly endorse a ban on cash. 4) Fed Chair Janet Yellen, during a Q&A session said cash is “not a convenient store of value.” Of course the above items are simply propaganda and words. But 2016 also featured major actions as far as the War on Cash is concerned… The 7th largest country in the world by GDP (India) banned physical cash in denominations that comprise over 80% of all outstanding bills. The move was a political disaster… temporarily, but no one was forced out of office and the legislation remains in place.
- David Collum: We've Got A Recession Coming – A bad one, at that
We've got a recession coming, one of the full-blown kind. And I don’t know what will happen. My prediction is that it is going to be a bad one. But what a lot of people don’t realize is that is when things start unwinding, counter party risk kicks in and faulty business models start showing up as bad and they start collapsing. All the accounting problems that built up behind the scenes so that the people cook the books to get their bonuses up and they made these crazy assumptions — under the protective cloak of a recession, CEOs can get away with announcing anything because they say Hey, don’t look at me. It’s a recession. So they write down huge blocks of cost. This actually exacerbates the downswing because people are dumping all their cooked books and getting all the fraud off their books so they don’t have to fess up to the fact that they cooked them. In actuality, they're getting ready to then start building up their stock options again from some bottom somewhere.
- Santa’s cRaZy 2017 Survival Plan
I know it’s Christmas and you probably have a million things to do (I do too!) but I HAVE to tell you about this crazy little guy who showed up at my door today. He was short, about 4 feet tall. He also had weird shoes that curled at the toe. And even stranger, he had pointy ears. I asked him who he was and he said he was a messenger from Santa! Whoa. Apparently, Santa is getting concerned about the economic situation, and he was wondering how he might survive if things continue to go downhill. After all, he still wants to be able to deliver toys, but if he goes big, round belly-up over the course of the year, then he won’t be able to fulfill the wishes of children next Christmas.
- Keiser Report: ‘We are all in Trump world now’
We review the year that was Donald Trump as markets rally the most since Herbert Hoover in 1928 but is a 1929 like crash in the cards? In the second half, Max interviews Karl Denninger of Market-Ticker.org about whether or not Trump is, indeed, ‘draining the swamp?’ Or is he repopulating it with bigger, more terrifying swamp creatures?
- How Americans Spent Their Money In The Last 75 Years (In 1 Simple Chart)
Consumer spending makes up 70% of the United States economy. We all have bills to pay and mouths to feed, but where do Americans spend their money? Here is a breakdown of how Americans spent their money in the last 75 years… In the chart, spending is broken into 12 categories: Reading, alcohol, tobacco, education, personal care, miscellaneous, recreation & entertainment, healthcare, clothing, food, transportation and housing. Each category is further broken down into spending by year, from 1941 to 2014, and each category is given a unique color. The data were collected from the Bureau of Labor Statistics. The data is adjusted for inflation and measures median spending of all Americans.
- Vladimir Putin’s Christmas Speech: Russian Leader Criticizes Western Countries for Abandoning Christian Roots
This one goes out to the democratic party, those Vlad haters out there this holiday season. If you've ever wondered why Putin appeals to so many stable minded people in the United States, look no further than this speech where the Russian leader lays into Euro-Atlantic nations for abandoning its Christian roots, placing homosexual relationships on the same level as families, fomenting an environment for paedophilia and creating an atmosphere which will eventually lead to the degradation of civility — leading to the loss of dignity. Powerful stuff.
- The Italian Bank Run: Monte Paschi Capital Shortfall Surges 75% To €8.8Bn Due To “Rapid Liquidity Deterioration”
While the big news last week was that Italy's third largest bank, Monte Paschi, had been nationalized after JPM destroyed the bank's chances of securing a private-sector rescue, and that Italy would issue up to €20 billion in public debt to fund the bailout of this, and other insolvent Italian banks, it appears there may be more moving parts to the story. Recall that as we warned, the biggest danger for both Monte Paschi, and Italy's banking system in general, is that retail depositor confidence in the Siena bank is shaken enough to lead to a bank run either in the world's oldest bank, or worse, across the entire Italian banking sector, leading to a worst case probability outcome of falling bank dominoes as bank funding needs explode, resulting in even more deposit outflows, and so on in a toxic feedback loop.
- As Mystery Of China's Multi-Billionaire Default Deepens, A New “Bond Scare” Emerges
Last week, in a largely “under the radar” event, one of China's wealthiest billionaires (if only on paper), Wu Ruilin, chairman of the Guangdong based telecom company Cosun Group, and whose personal fortune of 98.2 billion yuan ($14 billion) makes him wealthier than Baidu founder Robin Li who is ranked 8th on the Hurun Rich List 2016, shocked Chinese bond market watchers when he defaulted on a paltry 100 million yuan ($14 million) in bonds sold to retail investors through an Alibaba-backed online wealth management platform, citing “tight cash flow.” Needless to say, many were stunned that a billionaire for whom $14 million is pocket change, blamed “tight cash flow” for defaulting on mom and pop investors. In any case, as South China Morning Post reported, despite the founder's personal fortune, according to a notice put up by the Guangdong Equity Exchange on Tuesday, two subsidiaries of Cosun Group are each defaulting on seven batches of privately raised bonds they issued in 2014. According to the notice, “the issuer had sent over a notice on December 15, claiming not to be able to make the payments on the bonds on time, due to short-term capital crunch.”
- Report: White House prepares to announce sanctions against Russia as punishment for election interference
The White House is preparing to announce diplomatic censure and economic sanctions against Russia as punishment for its alleged interference in the 2016 election, reports the Washington Post. That information comes from unnamed government officials who spoke with the media outlet. According to those individuals, the Obama administration is assessing the allowances and limitations set forth in the 2015 executive order regarding cyber attacks against the United States.
- New Census Data Shows Why the Job Market is Still “Terrible” (as Trump said), but the Numbers Get Hushed up
When Donald Trump campaigned on how “terrible” the jobs situation was, while the Obama Administration touted the jobs growth since the employment bottom of the Great Recession in 2010, it sounded like they were talking about two entirely different economies at different ends of the world. But they weren’t. Statistically speaking, they were both right. Since 2011, the US economy created 14.6 million “nonfarm payrolls” as defined by the Bureau of Labor Statistics – whether or not they’re low-wage or less than full-time jobs. But for individuals, this job market, statistically speaking, looks almost as tough as it was during the Great Recession.
- Jerusalem: About to Explode
PASTOR WILLIAMS just shared this link with me. He asked that ALL readers should read this. He said he agreed wit hit and it explains what is happening at the UN at this moment. It also gives the outcome. Please share your thoughts. Half of Jerusalem. “Behold, the day of the Lord cometh, and thy spoil shall be divided in the midst of thee” (Zechariah 14:1). The subject is the Day of the Lord—the end time. This whole book is focused on the latter days. “For I will gather all nations against Jerusalem to battle; and the city shall be taken, and the houses rifled, and the women ravished; and half of the city shall go forth into captivity, and the residue of the people shall not be cut off from the city” (verse 2). Christ prophesied that He would “gather all nations” to battle Him in Jerusalem. Then He makes what might appear to be a strange statement. One half of Jerusalem is to be taken captive. Notice how specific this prophecy is. East Jerusalem—one half of the city—will be conquered by the Palestinians!
- A New Crisis Is Brewing in Spain – The government raided the state pension fund. And now what?
When the Rajoy administration took the reins of power at the end of 2011, at the height of Spain’s debt crisis, the country’s Social Security fund had a surplus of over €65 billion, the result of a gradual accumulation of funds since the end of the 1990s. That money was supposed to serve as a nationwide nest egg to help cover the growing needs of Spain’s burgeoning ranks of pensioners. Instead, it has been used by the government to fill some of its own massive fiscal gaps, with the result that now, five years later, the total surplus has shrunk by 75%, to €15 billion. Things have gotten so bad that in October the Spanish government was forced to admit to the European Commission that by the end of next year the surplus will have become a deficit, of around €2.6 billion. In other words, a fund that took 16 years to build up will have been plundered dry in less than half that time, at an average rate of around €11 billion a year.
- India’s Demonetization Debacle Highlights the Dangers of Monetary Monopoly
As longtime readers know, I believe we are at the beginning stages of what will be historical paradigm level change across the planet. We sit on the precipice of the self-destruction of almost all the dominant institutions we’ve been accustomed to throughout our lifetimes. To borrow a bit of played out and painfully clichéd Silicon Valley lingo, everything is on the table for “disruption.” Naturally, this doesn’t necessarily mean the paradigm that follows the current one will be materially better, but I am personally optimistic about what will emerge following a period of considerable confusion, hardship and conflict. In order to tilt the scales toward a positive outcome, those of us who wish to usher in a world characterized by human freedom, decentralization, self-government and kindness, need to recognize the most likely avenues we have to get there. Technology is obviously extremely important, as a recent move by Whisper Systems to thwart censorship demonstrates.
- How To Invest In The New World Order
In our latest Toward a New World Order, Part III we ended by promising to look closer at investment implications from the political and economic shift we currently find ourselves in; and that story must begin with the dollar. While known to the investing public for years, the Bank of International Settlements (BIS) recently acknowledge that the real risk-off / risk-on metric in global markets is the dollar and nothing else. In the chart below, which we recreated from an absolute brilliant presentation by Macro Intelligence 2 Partners via RealVision-TV, we see the potential scale of the coming “dollar-problem”. The dollar moves in cycles as most things. The lower extreme around 84, only broken when Bernanke pushed through QE2, means financial conditions for emerging markets and other commodity producing economies have gotten so out of hand that conventional risk-metrics finally lead investors to pull back. The trigger, as can be seen in the chart, is often policy driven, but the underlying structural imbalance has been building for years, if not decades, prior.
- Israel Urges Jews To Leave France, Suspends “Working Ties” With Countries That Voted For UN Resolution
In an unexpected escalation that was not the result of Israel's angry response to Friday's UN vote which passed a resolution condemning the country's settlements on occupied Palestinian territory, and which the US refused to veto, Israeli Defense Minister Avigdor Lieberman on Monday called on French Jews to leave their country to protest a Paris-hosted conference planned for next month aimed at restarting Palestine-Israel peace talks, Israeli daily Yedioth Ahronoth has reported. According to Turkey's Anadolu news agency, the Israeli government has repeatedly stated in recent months that it would not participate in the conference, which is scheduled to be held on Jan. 15 with the participation of representatives from 70 countries. Speaking at a meeting of his right-wing Yisrael Beiteinu party, Lieberman reportedly said: “Perhaps it's time to tell the Jews of France, ‘This isn't your country, this isn't your land. Leave France and come to Israel’.” “That's the only response to this plot,” Lieberman added, in reference to the planned conference.
- Obama Quietly Signs The “Countering Disinformation And Propaganda Act” Into Law
Late on Friday, with the US population embracing the upcoming holidays and oblivious of most news emerging from the administration, Obama quietly signed into law the 2017 National Defense Authorization Act (NDAA) which authorizes $611 billion for the military in 2017. In a statement, Obama said that: “Today, I have signed into law S. 2943, the “National Defense Authorization Act for Fiscal Year 2017.” This Act authorizes fiscal year 2017 appropriations principally for the Department of Defense and for Department of Energy national security programs, provides vital benefits for military personnel and their families, and includes authorities to facilitate ongoing operations around the globe. It continues many critical authorizations necessary to ensure that we are able to sustain our momentum in countering the threat posed by the Islamic State of Iraq and the Levant and to reassure our European allies, as well as many new authorizations that, among other things, provide the Departments of Defense and Energy more flexibility in countering cyber-attacks and our adversaries’ use of unmanned aerial vehicles.” Much of the balance of Obama's statement blamed the GOP for Guantanamo's continued operation and warned that “unless the Congress changes course, it will be judged harshly by history,” Obama said. Obama also said Congress failed to use the bill to reduce wasteful overhead (like perhaps massive F-35 cost overruns?) or modernize military health care, which he said would exacerbate budget pressures facing the military in the years ahead.
- Bundesbank Hauls its Gold back from New York & Paris Faster than Planned
“In 2016, we brought back again substantially more gold to Germany than initially planned; by now, nearly half of the gold reserves are in Germany,” Bundesbank President Jens Weidmann told the German tabloid Bild in what has become an annual Christmas interview about gold – to soothe the nerves of his compatriots. Because they’d been frazzled, apparently, by this whole saga. The German Bundesbank, which is in charge of managing Germany’s gold hoard of 3,381 metric tons, the second largest in the world behind the US, got into hot water in 2012 when rumors were circulating that some or much of its 2,000 tons of gold stored in New York, London, and Paris might not be there anymore, that it might have been melted down, leased, or sold.
- World Trade Falls to 2014 Level, just in Time for a “Trade War”
“If you get into a trade war with China, sooner or later we’ll have to come to grips with that,” Carl Icahn, now special advisor to President-Elect Trump, told CNBC on Thursday. “I remember the day something like that would really knock the hell out of the market.” A trade war with China surely would be another wall of worry for stocks to climb. Trump’s rhetoric against China, each morsel packaged into 140 characters or less, has already recreated much-needed turbulence [read… Trump Tweets about China, US Businesses Freak out]. “But maybe if you’re going to do it,” Icahn said about the looming trade war with China, “you should get it over with, right?”
- As the Coup Against Trump Fails, the Threat Against His Life Rises — Paul Craig Roberts
The use of the presstitute media to deny Trump the Republican presidential nomination failed. The use of the presstitute media to deny Trump victory in the presidential election failed. The vote recount failed. The effort to sway the Electoral College failed. But the effort continues. The CIA report on Russia’s alleged interference in the US presidential election ordered by Obama is in process. Faked evidence is a hallmark of CIA operations. In their determination to seal Trump’s ears against environmental concerns, a group of environmentalists plan to disrupt the inauguration. This in itself is of little consequence, but chaos presents opportunity for assassination.
- The Fed Admits The Good Old Days Are Never Coming Back
The dots that the FOMC members contribute to the plot indicate their expectations for the federal funds rate. Technically, it’s what they think rates should be, not a prediction of what rates will be on those dates. Is that a forecast? You can call it whatever you like. I think “forecast” is close enough. But before we analyze the whatever-you-call-it, let’s look back at the not-so-distant past. I’ve highlighted this fact before, but it’s worth mentioning again: In 2007, less than a decade ago, the fed funds rate was over 5%. So were the interest rates for Treasury bills, CDs, and money market funds. People were making 5% on their money, risk-free. It seems like ancient history now, but that year marked the end of a halcyon era of ample rates that most of us lived through. The chart below shows historical certificate of deposit rates—but remember, you could put your money in a money market fund and do better than the six-month certificate of deposit yield, back in 2007.
- Trump May Be Inheriting A Market That’s Primed For Failure
The optimism that has followed the election of Donald Trump has pushed the Dow Jones Industrial Average to the threshold of 20,000, a level that will be both a nominal record and a symbolic milestone. Although this is not the way most observers had predicted that 2016 would play out, most on Wall Street have become extremely reluctant to look a gift horse in the mouth…or to even look at him at all. The impulse is to jump on and ride, and only ask questions if it pulls up lame. But if this year has proven one thing, it is that predictions made by the consensus should not be trusted.
- Mole Reveals Terrorist Group’s Violent Plans For U.S. Inauguration Day
For anyone who hasn’t already heard, several different far-left activist groups including but not limited to Rising Tide North America, Showing up For Racial Justice, and of course the ever-popular Black Lives Matter are actively engaged at this very moment in various stages of planning for a violent uprising on Donald Trump's Inauguration Day. In a recent article that can be found at ipatriot.com, President-elect Trump’s close friend Roger Stone confirmed precisely what I’ve been warning about since at least this past June. Stone says that one of his undercover operatives was recently able to infiltrate a J-20 Committee planning session, which is the committee responsible for helping the #DisruptJ20 movement “create a sense of crisis” both in Washington D.C., and elsewhere around the country during the President-Elect's Inauguration.
- Obama Just Positioned Israel and Entire Middle East For a Horribly Bloody War
Since the day he first took office, Barack Obama has thumbed his nose at virtually every long standing U.S. tradition, upended decades worth of foreign policy decisions that were paid for with the lives of thousands of our nation’s finest as well as trillions of dollars in American taxpayers’ money (back when they all still had jobs), has divided this country in a way unlike anything I’ve seen during my 40 years on this planet, and he’s done all of it with the full support of a grossly corrupt and dishonest mainstream media that didn’t tell Americans the truth about virtually any of it. Even with almost 100 million Americans out of work, our smallest military since the 1940’s, social unrest that’s reached critical mass and is poised to blow, because of how dishonest the media is, the overwhelming vast majority of Americans still have no any idea the extent of the destruction Obama has left in his wake, and they probably won’t know until it’s far too late. Many experts predicted that Obama would be more defiant than ever before during the closing days of presidency, but few thought Obama would go as far as he just did this past week.
- Barack Obama’s All-Out Attack On Israel
During the very last month of his presidency, Barack Obama has decided to launch an all-out attack on Israel. On Friday, Barack Obama’s decision to allow UN Security Council resolution 2334 to pass without a veto was the greatest betrayal of Israel in modern American history, and now there are reports that the Obama administration is planning to introduce another resolution that would officially recognize a Palestinian state. Throughout his eight years in the White House, many have accused Obama of being the most anti-Israel president in our history, and now he is proving them right. Obama has also been accused of harboring sympathies for the agenda of the radical Islamic world, and at this point it is hard to argue that he doesn’t. Everyone always knew that Obama greatly disliked Israeli Prime Minister Benjamin Netanyahu, but the way that Obama is currently behaving goes way beyond just being vindictive. If it wasn’t for the election of Donald Trump, there would be little hope of salvaging U.S.-Israeli relations at this point. On Twitter, Newt Gingrich actually used the phrase “waging war” to describe what Obama is doing to Israel…
- 10 Times That God Has Hit America With A Major Disaster After The U.S. Attempted To Divide The Land Of Israel
Because Barack Obama has cursed Israel at the United Nations, America is now under a curse. Friday’s stunning betrayal of Israel at the UN Security Council is making headlines all over the planet, but the truth is that what Obama has just done is far more serious than most people would dare to imagine. Over the past several decades, whenever the U.S. government has taken a major step toward the division of the land of Israel it has resulted in a major disaster hitting the United States. This keeps happening over and over again, and yet our leaders never seem to learn. And despite the fact that President-elect Donald Trump, Israeli Prime Minister Benjamin Netanyahu and prominent members of both parties in Congress strongly urged Obama to veto Security Council resolution 2334, he went ahead and let it pass anyway. Because the United States has veto power on the UN Security Council, nothing can get passed without our support. And it has been the policy of the U.S. government for decades to veto all anti-Israel resolutions that come before the Security Council. But this time around, it appears that the Obama administration was working very hard behind the scenes to get this resolution pushed through the Security Council before the end of Obama’s term. At least that is what Israeli Prime Minister Benjamin Netanyahu is claiming…
- Breaking Report: John Kerry Is Working On Another UN Resolution That Would Officially Recognize A Palestinian State
Multiple media outlets are reporting that U.S. Secretary of State John Kerry is finalizing a document that the Obama administration hopes will form the basis for a UN Security Council resolution that officially recognizes a Palestinian state before the end of Barack Obama’s term on January 20th. This comes on the heels of the UN Security Council’s adoption of resolution 2334 on December 23rd. That resolution declared that all Israeli settlements in the West Bank are illegal, it stated that the Security Council recognizes the 1967 ceasefire lines as the border between Israel and “Palestine”, and it officially gave East Jerusalem to the Palestinians. But it stopped short of formally recognizing a Palestinian state. Resolution 2334 speaks of a Palestinian state in the future tense, but this new resolution that John Kerry is reportedly working on would give immediate and permanent UN Security Council recognition to a Palestinian state. If there is a UN Security Council resolution that officially establishes a Palestinian state prior to January 20th, there will be no question that it will represent “the dividing of the land of Israel” at the United Nations that so many of us have been watching for. According to the Times of Israel, Israeli Prime Minister Benjamin Netanyahu is anticipating precisely this kind of move at the UN, and he is reaching out to Donald Trump for assistance…
- The UN Security Council Has Just Officially Given Every Inch Of East Jerusalem To The Palestinians
Barack Obama has just made the worst decision of his entire presidency. On Friday, the UN Security Council adopted resolution 2334, and this never would have happened without the support and approval of Barack Obama. Since the United States has veto power on the Security Council, no resolution can ever pass unless the United States allows it to pass. For decades, it has been the policy of the U.S. government to veto all anti-Israel resolutions at the Security Council, and the Israeli government had been expecting that Barack Obama would not suddenly change that policy at the very end of his second term. Most of the news headlines about resolution 2334 refer to “Israeli settlements”, but the reality of the matter is that this resolution is about much more than that. The truth is that this resolution has established legally binding parameters for a “two-state solution” that Israel will never accept, and this includes giving every inch of East Jerusalem to the Palestinians. If you have not read it yet, you can find the full text of resolution 2334 right here. It is one of the most important documents of our time, so you need to take a few minutes to read it. In the excerpt below, you will see that this resolution clearly states that East Jerusalem is in “Palestinian territory” and that the Security Council says that it will recognize no changes to the pre-1967 borders except “those agreed by the parties through negotiations”…
- Truck Killers will Cause EU to Vote Out Leaders, Trump Gets Ready for War, Merry Christmas
Terrorists have stuck again by using a truck to mow down Christmas shoppers. The latest attack was committed by an Islamic terrorist who is aligned with ISIS. This is one of the many reasons the status quo will be voted out of office in the 2017 elections in places like France and Germany. People have had enough with the PC culture, while people are slaughtered by terrorists on a regular basis. Donald Trump has picked his cabinet and looks like he is going to war with the oligarchs. He has former Marine generals posted as Secretary of Defense and managing Homeland Security after he takes office on January 20th. Another telling pick is former Chairman of the Federal Election Commission Don McGahn chosen as White House Counsel. Is Trump going to take on election and voter fraud that is running rampant? It sure looks that way.
- Top Ex-White House Economist Admits 94% Of All New Jobs Under Obama Were Part-Time
Just over six years ago, in December of 2010, we wrote “Charting America's Transformation To A Part-Time Worker Society”, in which we predicted – and showed – that in light of the underlying changes resulting from the second great depression, whose full impacts remain masked by trillions in monetary stimulus and soon, perhaps fiscal, America is shifting from a traditional work force, one where the majority of new employment is retained on a full-time basis, to a “gig” economy, where workers are severely disenfranchised, and enjoy far less employment leverage, job stability and perks than their pre-crash peers. It also explains why despite the 4.5% unemployment rate, which the Fed has erroneously assumed is indicative of job market at “capacity”, wage growth not only refuses to materialize, but as we showed yesterday, the growth in real disposable personal income was the lowest since 2014.
- Obama Betrays Israel At The United Nations – Is America’s Reprieve Now Over?
Barack Obama actually did it. Despite enormous pressure from the government of Israel, President-elect Donald Trump and members of his own party in Congress, Barack Obama decided to stick a knife in Israel’s back at the United Nations. On Friday, the UN Security Council adopted a resolution that calls for a “two-State solution based on the 1967 lines” and that shockingly states that “the establishment by Israel of settlements in the Palestinian territory occupied since 1967, including East Jerusalem, has no legal validity”. This resolution was approved by a vote of 14 to 0, and the U.S. abstained from voting. But essentially the outcome of the vote was going to be determined by Barack Obama. For decades, the U.S. veto power on the UN Security Council has shielded Israel from these types of resolutions, but this time around Obama decided to betray Israel by allowing this vote to pass. Needless to say, this vote is going to have enormous implications for Israel, for the United States, and for the entire globe.
- Trumpocalypse? Suddenly Liberals Are The Ones Stockpiling Food, Guns And Emergency Supplies
Now that the shoe is on the other foot, many liberals all over America have suddenly become extremely interested in prepping. Fearing that a Trump presidency could rapidly evolve into a “Trumpocalypse”, a significant number of leftists are now stockpiling food, guns and emergency supplies. In fact, even though many had expected a sharp drop in gun sales following Trump’s victory, what actually happened is that fear of what is coming under Trump pushed background checks for gun sales to an all-time record high on Black Friday. The election of Donald Trump has awakened the left to a degree that we haven’t seen in decades, and some on the left are embracing hardcore survivalism without any apologies. That is ironic about all of this is that on the other end of the political spectrum interest in prepping is probably the lowest that it has ever been in the history of the modern prepper movement. A couple of weeks ago, I wrote an article about how it was like “a nuclear bomb went off in the prepping community“, and nothing has changed since that time.
- European Banks agree $12.5bn in US fines
Deutsche Bank and Credit Suisse have agreed to pay $7.2bn (£5.9bn) and $5.3bn (£4.3bn) respectively in penalties relating to the collapse of the US housing market before the financial crisis. The Swiss lender announced it had reached a deal with the US Department of Justice hours after a similar move by Deutsche. While the German bank's sum is half the $14bn originally sought by investigators, it is more than $2bn above the amount analysts expected Europe's third-largest bank to shell out. Deutsche also warned the deal, following four months of negotiations, was subject to potential revision. Its share price rose more than 4% in early trading in Frankfurt.
- Codex Nutrition Committee Condemns 90% of World to Poor Health
At the beginning of this week December 5-9, 2016, the Codex Committee on Nutrition and Foods for Special Dietary Uses (CCNFSDU) became the very thing that Codex Secretariat Tom Heilandt warned against in his opening speech there – “lazy monkeys.” For those unfamiliar with that term, it is loosely translated as “being lazy for no reason and not functioning properly.” On the debate over the daily Nutrient Reference Values (NRVs) for VitaminÍ D and Vitamin E, the bulk of the Committee weakly argued and agreed amongst themselves that the World’s population does not need adequate blood levels of either Vitamin D or Vitamin E. In particular, the CCNFSDU decided that 5-15 micrograms (200-600 IUs) /day of Vitamin D and 9 milligrams (13.5 IUs)/day of Vitamin E are all that humanity needs. Lazy monkeys. As anyone with even a smidgen of nutritional knowledge knows, both Vitamin D and Vitamin E are critical for human health, and at far greater amounts than first thought. Long gone are the days when rational nutritionists and researchers thought that 400 IUs per day (10 mcg/day) of Vitamin D would sustain optimal health. And for those who live in that fairy-tale land where 13.5 IUs per day (9 mg/day) of Vitamin E will support normal fertility and childbirth, or health at any level, a very special place in Hell is reserved. Or else on a delegation at a Codex committee.
- Italy Joins the “Bail-In” Bunch
Italy has now joined the “bail-in” crowd. ‘Monte dei Paschi di Siena is to be rescued by the Italian state using a new €20bn bailout package, as a last-gasp private sector rescue plan for the world’s oldest bank looked set to fail, forcing losses on bondholders. The government rescue, which had long been resisted in Rome, is designed to draw a line under the slow-burn crisis in Italian banking that has alarmed investors and become the main source of concern for European financial regulators.' In this particular case, the bail-in will use bondholders’ money. But depositors will be on the hook in future cases in Europe.
- College Student Earns 4.0 GPA, Then Drops Out: “You Are Being Scammed!”
Billy Williams just finished his first college semester and did so with the all-impressive 4.0 GPA. Instead of celebrating his accomplishments with friends and family, he decided to drop out of college entirely. Billy made a facebook post that is now going viral in which he explains his reasoning for dropping out. Billy is right too that the price of college continues to soar.
- Baby Boomers Increasingly Having Social Security Checks Garnished To Cover Student Loan Payments
The government has collected about $1.1 billion from Social Security recipients of all ages to go toward unpaid student loans since 2001, including $171 million last year, the Government Accountability Office said Tuesday. Most affected recipients in fiscal year 2015—114,000—were age 50 or older and receiving disability benefits, with the typical borrower losing about $140 a month. About 38,000 were above age 64. The report highlights the sharp growth in baby boomers entering retirement with student debt, most of it borrowed years ago to cover their own educations but some used to pay for their children’s schooling. Overall, about seven million Americans age 50 and older owed about $205 billion in federal student debt last year. About 1 in 3 were in default, raising the likelihood that garnishments will increase as more boomers retire. “I believe this is the tip of the iceberg of what may be to come if we don’t work harder on this problem,” said Sen. Claire McCaskill of Missouri, the top Democrat on the Senate Special Committee on Aging.
- Chinese Multibillionaire Defaults On Retail Bonds Due To “Severe Cash Crunch”
Italy's Monte Paschi isn't the only institutions that is about to soak retail investors who thought that two bailouts for Italy's third biggest bank in two years wouldn't be followed by a third nationalization in year #3. According to the South China Morning Post, a Chinese multi-billionaire businessman has defaulted on bonds worth a paltry 100 million yuan ($14.4 million) that he raised from retail investors, citing “tight cash flow”, according to reports. Wu Ruilin, chairman of the Guangdong based telecom company Cosun Group, has a personal fortune of 98.2 billion yuan, or just over $14 billion, China Business News (CBN) reported citing an audit by a third party. That makes Wu wealthier than Baidu’s founder Robin Li, who has 98 billion yuan and is ranked 8th on the Hurun Rich List 2016. And yet, despite the founder's personal fortune, according to a notice put up by the Guangdong Equity Exchange on Tuesday, two subsidiaries of Cosun Group are each defaulting on seven batches of privately raised bonds they issued in 2014. According to the notice, “the issuer had sent over a notice on December 15, claiming not to be able to make the payments on the bonds on time, due to short-term capital crunch.”
- What the Heck’s Happening to Our Share Buyback Boom?
Companies in the S&P 500 spent about $3 trillion since 2011 to buy back their own shares, often with borrowed money. It’s part of a noble magic called financial engineering, the simplest way to goose the all-important metric of earnings per share (by lowering the number of shares outstanding). And it creates buying pressure in the stock market that drives up share prices. With buybacks, you don’t need to sell one extra iPhone to boost your earnings per share. So the amounts have grown and grown. With ultra-cheap money available to borrow endlessly, companies take on debt and hollow out shareholder equity. It has worked like a charm. Stock prices have soared. Declining revenues and earnings, no problem. But something is happening that hasn’t happened since the Financial Crisis.
- IPOs Have Worst Year since 2003, and the Dow is at 20,000?
Stock indices are frolicking in record territory. The S&P 500 is up almost 11% this year, though the gains came after the election. The Dow has been titillating the entire world, day after day, with the prospect of finally, finally hitting 20,000 after being just a hair shy of it for two weeks. So it would seem that the IPO market would be hot. But for IPOs, 2016 has turned out to be a fabulously terrible year. That makes two years in a row. Last year at this time, I wrote that the IPO market in 2015 had been the worst since the Financial Crisis. I quoted Sam Kendall, UBS global head of equity capital markets: “We all thought that we might finally get a year where we would be able to put four quarters together,” he said at the time. “If you looked at the pipeline and how people were thinking about the world, it just felt good. And then the wheels came off.”
- Nightmare Before Christmas for Spanish Banks – The European Court of Justice refused to listen
The European Court of Justice just delivered a landmark ruling that could cost Spanish banks – or Spanish taxpayers, in case of another bailout – billions of euros: 40 out of Spain’s 42 banks will have to refund all the money they surreptitiously overcharged borrowers as a result of the so-called “mortgage floor-clauses” that were unleashed across the whole home mortgage sector in 2009. These floor clauses set a minimum interest rate, typically of between 3% and 4.5%, for variable-rate mortgages, which are a very common mortgage in Spain, even if the Euribor dropped far below that figure. In other words, the mortgages were only really variable in one direction: upwards!
- In One of the Nation’s Unhealthiest Places, This Hospital Prescribes Fresh Food From Its Own Farm
Five years ago, when Lankenau Medical Center was confronted with evidence that it was serving the unhealthiest county in Pennsylvania, the hospital decided to embrace the findings with an unconventional approach: building a half-acre organic farm on its campus to provide fresh produce to patients. The teaching and research hospital just outside Philadelphia was in the midst of its own patient health needs assessment in 2011 when the Robert Wood Johnson Foundation released findings about health outcomes in Pennsylvania counties. Lankenau is officially located within Montgomery County, one of the state’s healthiest, taking into account factors including obesity rates and access to reliable sources of food. But the campus is adjacent to and receives many patients from Philadelphia County, ranked the least healthy of all 67 counties.
- Generation Snowflake: Percentage Of Young Adults Living With Their Parents Hasn’t Been This High Since 1940
Have we failed this generation of young adults by not equipping them to be able to handle the harsh realities of the real world? According to the Wall Street Journal, the percentage of Americans in the 18 to 34-year-old age bracket that are currently living with their parents hasn’t been this high in 75 years. At this point nearly 40 percent of our young adults in that age range are living at home, and many are concerned that this could have some alarming implications for the future of our nation. In the United States today, more than 60 million people live in multi-generational households, and it is a good thing to have a tight family. But at some point young adults need to learn how to live their own independent lives, and in millions of cases this independence is being delayed or is never happening at all. There are many factors involved in this trend. First of all, there is truly a lack of good jobs despite what we are being told about an “economic recovery”. Millions of young adults are graduating from college only to discover that there is a very limited number of good jobs available for our college graduates. So some college graduates are able to secure the types of jobs that they were hoping for, but millions of others are not.
- Associate of Paul Craig Roberts Says Stock Market May Be About To Go ‘Super Nova’
Today an associate of former Assistant U.S. Treasury Secretary official, Dr. Paul Craig Roberts, said the stock market may be about to go “Super Nova.” He also urged people to keep their eyes on the gold and silver markets. ETF flows tend to be a good contrary indicator when they become extreme, so the buying frenzy doesn’t bode well for U.S. equities. — David Santschi, CEO of TrimTabs. Dave Kranzler: If the Federal Reserve were a private corporation and did not have a money tree, it would be technically insolvent – i.e. bankrupt. As of its latest balance sheet the Fed was reporting a book value (net worth) of $40.4 billion. But the Fed does not have to mark to market its assets. Given the recent 100+ basis point move in the 10-yr Treasury, if the Fed were forced to mark to market its $3.8 trillion Treasuries and mortgages, it would be forced to reduce the holding value by close to $400 billion, taking the Fed’s net worth to negative $360 billion…
- Look At The Shocking Difference Between When Ronald Reagan Took Office vs Donald Trump
With the Dow near 20,000 and the U.S. Dollar Index above 103, and the Electoral College finally confirming our 45th President, look at the startling differences between when Reagan entered office vs Donald Trump. Trump: From Zero to Hero? Gold And The Illusion Of Monetary ValueThis time last year, we were expecting the US dollar to depreciate drastically since we regarded the then held opinion of four interest rate hikes in 2016 as defying implementation. At first, this assessment turned out to be the right call. The US dollar experienced a trend reversal, with the gold price recording a fantastic first half of the year. However, the BREXIT put an end to this development, and Trump’s victory turned the development by 180 degrees.
- Italy to bailout Monte dei Paschi di Siena bank with €20bn rescue fund
A €20bn (£17bn) rescue fund for Italy’s banking sector has been approved by the country’s parliament, heralding a bailout of the world’s oldest bank, Monte dei Paschi di Siena (MPS). The bank said late on Wednesday that it had failed to secure an anchor investor – the Qatar sovereign wealth fund – for a €5bn offer of new shares. Despite announcing on Wednesday night that a debt-for-equity swap offer raised slightly over €2bn – part of a complex fundraising exercise intended to bolster the strength of the bank – the failure to persuade a major investor to contribute €1bn meant the rescue plan would not succeed before it closed at 2pm on Thursday.
- U.S. Economic Confidence Surges To The Highest Level That Gallup Has Ever Recorded
Gallup’s U.S. Economic Confidence Index has never been higher than it is today. The “Trumphoria” that has gripped the nation ever since Donald Trump’s miraculous victory on election night shows no signs of letting up. Tens of millions of Americans that were deeply troubled by Barack Obama’s policies over the last eight years are feeling optimistic about the future for the first time in a very long time. And it is hard to blame them, because what we have already seen happen since November 8th is nothing short of extraordinary. The stock market keeps hitting record high after record high, the U.S. dollar is now the strongest that it has been in 14 years, and CEOs are personally promising Trump that they will bring jobs back to the United States. These are things worth getting excited about, and so it makes perfect sense that Gallup’s U.S. Economic Confidence Index has now risen to the highest level that Gallup has ever seen…
- Pastor Lindsey Williams introduces Pastor David Bowen – December 22, 2016
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.
THE FINAL BUBBLE! Pastor Williams says the information shared by this economist is outstanding and correct. What he says will happen. >>> CLICK HERE TO WATCH THE VIDEO (This video is being shared because the information within it is truly good and correct. Half way through the video it turns into a sales pitch to sell a book and related products. Pastor Williams has asked me to state that Pastor Williams and LindseyWilliams.net do not endorse this book).
From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.
Latest News From December 16, 2016 to December 22, 2016:
- Why Trump's “Border Tax Proposal” Is The “Most Important Thing Nobody Is Talking About”
While the market, and various pundits and economists have been mostly focused on the still to be disclosed details of Trump's infrastructure spending aspects of his fiscal plan, “one of the least talked about but possibly most important tax shifts in the history of the United States” is, according to DB, House Speaker Paul Ryan’s and President-elect Trump’s “border tax adjustment” proposal. This is part of the “Better Way” reform package and also figures prominently in the writings of senior Trump administration officials. What is it? Put simply, the proposal would tax US imports at the corporate income tax rate, while exempting income earned from exports from any taxation. The reform would closely mirror tax border adjustments in economies with consumption-based VAT tax systems. If enacted, the plan will likely be extremely bullish for the US dollar. What’s more, it would have a transformational impact on the US trade relationship with the rest of the world.
- Early 2017 Record Scam Stock Market Going to Blow Up-Michael Pento
Money manager Michael Pento says don’t get too comfortable with the record highs in the stock market. Pento warns, “In December of 2015, the Fed raised rates. It was the first time in a decade. From the middle of December to the end of December (2015), it was nirvana. They raised rates. There was no problem, and then came January. The first trading day of January, boom, and we had the worst January in the history of all Januarys in the stock market. I think the very same thing is going to happen in 2017, but I think it’s going to be worse. Not only are we going to fall, I think there is going to be a huge tremor in China and in the emerging markets. That’s early in 2017, and when that occurs, Janet Yellen (Fed Head) can forget about three rate hikes. I think she will not get more than one rate hike out of the way before this whole thing unwinds and unfolds. Then, you are going to get a reversal of those rate hikes. You are going to go back into QE (quantitative easing or money printing) in 2017.”
- Italian Government To Meet At 7:30PM CET To Approve Monte Paschi Nationalization
Having failed to secure a private sector rescue after its anchor investor Qatar balked at sinking another $1 billion into the perpetually insolvent bank, Italy's Monte Paschi is set to be nationalized as soon as 7:30pm CET today when the Italian cabinet is expected to meet and decide on a bank decree. The EU is said to have approved the Italian bank decree. As Bloomberg notes, the Italian government set to intervene soon after expected failure of Monte Paschi recapitalization plan, says senior Italian official who asked not be named before cabinet discusses banks’ decree. The decree would set up a €20 billion fund which would intervene when recaps by banks are not supported by market. Paschi and other troubled lenders will not be named in the decree, but it will apply to them. While shareholders will be hit, something which is obvious by the market cap of the company which is now below €500 million, the aim is to limit losses for stock and bondholders. The cabinet is also expected to announce a 6-month extension for popolari banks.
- Tis The Season For Credit Card Debt: This Christmas Americans Will Spend An Average Of 422 Dollars Per Child
For many Americans, the quality of Christmas is determined by the quality of the presents. This is especially true for our children, and some of them literally spend months anticipating their haul on Christmas morning. I know that when I was growing up Christmas was all about the presents. Yes, adults would give lip service to the other elements of Christmas, but all of the other holiday activities could have faded away and it still would have been Christmas as long as presents were under that tree on the morning of December 25th. Perhaps things are different in your family, but it is undeniable that for our society as a whole gifts are the central feature of the holiday season. And that is why so many parents feel such immense pressure to spend a tremendous amount of money on gifts for their children each year. Of course this pressure that they feel is constantly being reinforced by television ads and big Hollywood movies that continuously hammer home what a “good Christmas” should look like.
- Fed's Yellen trumpets education in changing economy
Changing technologies and globalization have put a premium on completing a college education in order to get and keep higher-paying jobs, Federal Reserve Chair Janet Yellen said on Monday. “The drivers of this increasing demand for those with college and graduate degrees are likely to continue to be important,” Yellen said in prepared remarks to a University of Baltimore commencement ceremony at which she was due to receive an honorary degree. She did not mention monetary policy in her speech, which was solely focused on the world of work, but did note those graduating were entering the strongest jobs market in nearly a decade.
- Car-tastrophe – GM, Fiat Chrysler Idle 7 Plants; Over 10,000 Workers Affected
Just weeks after Ford idled four plants “due to slowing sales”, GM and Fiat Chrysler announced today that they will idle seven plants across Canada and US as they work to reduce near-record high inventories amid weakening sales. With an inventories-to-sales ratio above historical peaks (only beaten by huge spike in 2008 when sales stopped), the pain for automakers has only just begun… For example, GM's inventory of vehicles on dealer lots at the end of November stood at 874,162, up 26.5% from the same time a year ago.
- Obama takes some blame for staggering Democratic losses during presidency
Looking back at a Democratic Party that has been shattered nationwide under his leadership, President Obama is accepting blame for building an organization that benefited mainly himself. The president said Monday that he and his political team didn’t pay enough attention to local Democratic candidates after he came into office in 2009 with a recession and two wars to handle. “We were just putting out fires,” Mr. Obama said in an exit interview with NPR. “We were in a huge crisis situation. And so a lot of the organizing work that we did during the campaign, we started to see right away didn’t immediately translate to, wasn’t immediately transferable to, congressional candidates. And more work would have needed to be done to just build up that structure.”
- Column: Raising the minimum wage lowers employment for teens and low-skill workers
A report by the National Employment Law Project estimates that American workers will gain $62 billion in wage increases due to state and local minimum wage increases advocated by the Fight for $15 movement. Where did it get that number? Although calls and emails to NELP to get the methodology behind its figures went unanswered, it’s clear that the study made a number of assumptions. NELP states in the report that, “Total income increase estimates [were] derived by multiplying the number of workers affected, by the per-worker income increase at the end of the phase-in period.” In other words, NELP estimated the number of workers at different wage levels in areas that passed minimum wage increases, calculated the difference in their former incomes and new incomes under the new minimum wage when that wage was completely phased in and added those increases to get to $62 billion.
- China Cuts Offering Size Of 3, 7 Year Bonds By 40% Over Concerns Of More Failed Auctions
The danger signs are building up for the Chinese bond market. First, last Thursday, Chinese bond futures crashed by the most on record forcing China's regulator to briefly halt trading in the security until the panic fades. Then, on Friday, a Chinese bill auction technically “failed” when it was unable to find enough buyers for the total amount offered for sale. At the same time, interbank lending among Chinese banks effectively froze when, as a result of the spike in overnight lending rates, the PBOC was forced to intervene by providing a “massive” amount of liquidity . The PBOC tapped an emergency lending facility it created in 2014 to extend 394 billion yuan ($56.7 billion) in six-month and one-year loans to 19 banks. That pushed the net amount extended through the facility to 721.5 billion yuan so far in December, a monthly record, according to Beijing-based research firm NSBO. The central bank also injected a net 45 billion yuan into the money market on Friday, following a net 145 billion yuan cash infusion on Thursday. The PBOC also ordered a few large banks to extend longer-term loans to nonbank financial institutions, while China’s securities regulator asked brokers tasked with making a market in bonds to continue trading and not shut any companies out of the market, according to Mr. Zheng of Dongxing Securities.
- “Demonetization Has Achieved Nothing” – India's Rapidly Plunging Toward A Police State
India’s Prime Minister, Narendra Modi, announced on 8th November 2016 that Rs 500 (~$7.50) and Rs 1,000 (~$15) banknotes would no longer be legal tender. Linked are Part-I, Part-II, Part-III, Part-IV, and Part-V, which provide updates on the demonetization saga and how Modi is acting as a catalyst to hasten the rapid degradation of India and what remains of its institutions. As the deadline of 31st December 2016 approaches, Gresham’s law has been turned upside down. When they needed to be converted, the banned currency notes were trading for a 20% discount to their face value. In the meantime, the discount has disappeared and the banned notes are trading at a premium of 10%. The mafia which deals in the banned notes could not possibly be happier — it promises to be a big supporter of Modi going forward.
- Judge orders unsealing of search warrant in Clinton email probe
A federal judge has ordered the unsealing of a search warrant that played a role in the controversial public renewal of the investigation into former Secretary of State Hillary Clinton's email just before the presidential election. The warrant was issued by a federal magistrate in late October, after the FBI requested permission to search emails contained on a laptop belonging to Anthony Weiner, the estranged husband of Clinton aide Huma Abedin. U.S. District Court Judge P. Kevin Castel issued an order Monday that the warrant linked to the Clinton probe and related records be unsealed at noon Tuesday, unless a higher court steps in. The judge acted after E. Randal Schoenberg, a California lawyer who mainly investigates art thefts, filed a suit seeking to force unsealing of the files.
- Italy Seeks Authorization To Raise National Debt To Fund Bank Bailouts, As BMPS Rescue Plan In Jeopardy
While Italy scrambles to conclude a private sector rescue of ailing Monte Paschi, which hopes to raise €5 billion in the form a share sale to anchor and retail investors, while at the same time the bank is underoing a debt for equity swap, moments ago Reuters reported that Italy's cabinet will meet later on Monday to authorise an increase to the national debt to cover the cost of saving Monte dei Paschi di Siena, should a public bailout be unavoidable, as well as other ailing banks, government sources said cited by Reuters. As reported yesterday, Monte dei Paschi has launched a 5-billion-euro (4.2 billion pounds) capital increase and must raise the money by the end of the year or face being wound down. If it cannot find takers in the private sector, the government will be forced to step in.
- Doing Business the Chinese Way: Facebook Develops A Censorship Tool
After seven years being banned in China, Facebook learned its lesson—Do business the Chinese way. According to the New York Times, Facebook has developed a censorship tool to restrict contents from appearing in feeds, hoping to re-enter the Chinese market, where many other tech companies including Google and Twitter failed in the past. It is likely Facebook would provide a third party with this censorship tool for monitoring posts, instead of censoring feeds itself. The company may partner with a Chinese firm, utilizing local expertise and connections in negotiating with Beijing. A Facebook spokeswoman said the company had not made decisions on its China re-entry plan.
- “Everyone Is Nervous” – Chinese Bond Bloodbath Reawakens As Hong Kong Stocks Turn Red For 2016
After a brief respite, the bloodbath in Chinese bonds is back, with futures plunging back to lows overnight amid liquidity fears (short-term lending rates are inverted) and growing anxiety over China's almost unprecedented debtload. As The Wall Street Journal reports, a gradual tightening of short-term credit by China’s central bank – combined with rumors of liquidity squeezes at brokers – prompted a mini-rout in the country’s $8 trillion-plus bond market last week, forcing authorities to reverse course and inject some $86 billion in short- and medium-term funds.
- Secret terrifying 13 FOOT ‘Avatar war' robot learns to walk and mimic human movements
Scientists have programmed a monster one-tonne robot that can walk and mimic human movements resembling something from Avatar. The METHOD-1 machine is four metres tall and when it stomps it leaves the ground “shaking”, according to designer Vitaly Bulgarov. The giant robot, built in South Korea, works by repeating the actions of its pilot sitting inside by moving its enormous arms and legs up and down.
- Deutsche axes bonuses to pay toxic loans fine
Deutsche Bank is to axe bonuses for senior staff as part of its desperate efforts to pay for a potential $14bn (£11.2bn) legal settlement with American regulators. John Cryan, the German bank’s Yorkshire-born boss, warned top bankers this month that their bonuses would be seized to help foot the bill for the mis-selling of sub-prime mortgages. A handful of top-performing executives will receive “retention cheques” — much smaller sums that will be paid out over several years. Junior staff will still receive a bonus, but on a far smaller scale.
- Deutsche Bank Shares Stumble As DoJ Settlement Looms
Deutsche Bank shares are sliding this morning after headlines from CNBC reporting a settlement is close with the US Justice Department over mortgage fraud. With analyst expectations/hopes in the $2 to $5 billion range (against the initial $14 billion fine), reports say the bank is set to pay “less than $14 billion” which has perhaps spooked investors with its uncertainty. As Bloomberg reports, Deutsche Bank will pay “far less” than the initial $14b settlement sought by the U.S. DOJ to resolve litigation over residential mortgage-backed securities, Reuters says, citing a person familiar with the matter. The source says there is a “good chance” the matter will be resolved this week, possibly as early as Wednesday. However, the deal is not finalized yet, and resolution could still be delayed. And for now the stock is fading…
- Chinese Interbank Lending Freezes, Forcing Massive Intervention By China's Central Bank
China is finding itself in an increasingly more untenable situation, trapped on one hand by its sliding currency (and declining reserves), which as noted earlier it has manipulated higher by forcing overnight unsecured rates to spike, in the process punishing “speculators” and other shorts… and on the other, by a banking sector that finds itself desperately in need of liquidity, unable to endure the PBOC's monetary interventions, and on the verge of a liquidity crisis comparable to what Chinese banks suffered in the summer of 2013 when overnight rates briefly shot up above 20% as China pushed aggressively with a failed deleveraging campaign.
- The War on Cash Rages On in India and Venezuela
Imagine you roll out of bed tomorrow to find out that US $100 and $50 bills were outlawed and deemed worthless? Hard as it is to believe, this is now taking place in both Venezuela and India. It’s a war on cash. And it’s coming soon to your doorstep. This past Sunday, President Maduro, the tyrannical leader of the socialist paradise of Venezuela gave a three day warning that he was eliminating his country’s 100 bolivar bank note. The official reasoning for the removal of these bills according to President Maduro’s statement on Venezuelan state-run TV: “There has been a scam and smuggling of the one hundred bills on the border with Colombia, we have tried the diplomatic way to deal with this problem with Colombia’s government; there are huge mafias.” The 100 bolivar note was the country’s largest currency denomination left in circulation and was equivalent in value to $0.02 USD.
- ALERT: A Major Warning Signal Was Just Triggered That Preceded The Last Collapse
With interest rates spiking and the dollar surging, a major warning signal was just triggered that preceded the last collapse. Major Danger Signal Just Triggered. From Jason Goepfert at SentimenTrader: “Homebuilders are giddy. While their stocks have been flat for several years, company officials are the most optimistic since the housing bubble years. In the past 30 years, they have been this positive on their industry only three times, and two of those coincided with peaks in their stocks…
- How Deutsche Bank Sent Your Bullion to ISIS
In some strange way I have been led to this final chapter as laid out by Mark Anthony Taylor below. The paper trail goes back to WW1 and the alliance between Germany and Turkey. Central to this period in history was the Armenian genocide perpetrated by the Turks and with German observers. A similar brutality was repeated by Nazi Germany in WW2. 30 million Russians lost their lives in that war, along with 12 million Protestants and Orthodox Christians in Eastern Europe and 6 million Jews.
- Prelude To Global Collapse And How Swiss Refiners Just Exposed The Big Lie In The Gold Market
With interest rates soaring, today the man who has become legendary for his predictions on QE, historic moves in currencies, spoke with King World News about the prelude to global collapse and how the Swiss refiners just exposed the big lie in the gold market. The Final Mania In Global Markets. Egon von Greyerz: “We are now approaching the final mania in markets. The Dow seems to be on its last swan song. Investors are determined to take it up to 20,000. Since there are only 160 points to go, this would not be hard to achieve. At the same time, U.S. Treasury bonds are crashing. The 10-year yield has gone from 1.4%, a low 1 1⁄2 years ago, to 2.6% today. Normally stock market investors would worry about higher interest rates but the market is currently in a euphoric mode so any bad news is ignored in this final crescendo…
- James Turk – This Will Be One Of The Big Keys For 2017
As we kick off the final week of trading before Christmas, today James Turk spoke with King World News about what will be one of the big keys for 2017. James Turk: “There is a lot of cheerleading coming from stock market bulls and the mainstream media as the Dow Jones Industrials Average (DJIA) approaches 20,000, Eric. I find it interesting though that little attention is being paid to the Dow Jones Transportation Average. The Transports peaked earlier this month and have dropped steadily since then. In fact, even the DJIA now appears to be hesitating, which highlights its struggle to reach 20,000.
- Italy Banking Crisis is Also a Huge Crime Scene – Toxic loans as a result of corruption, political kickbacks, fraud, and abuse
The Bank of Italy’s Target 2 liabilities towards other Eurozone central banks — one of the most important indicators of banking stress — has risen by €129 billion in the last 12 months through November to €358.6 billion. That’s well above the €289 billion peak reached in August 2012 at the height of Europe’s sovereign debt crisis. Foreign and local investors are dumping Italian government bonds and withdrawing their funding to Italian banks. The bank at the heart of Italy’s financial crisis, Monte dei Paschi di Siena (MPS), has bled €6 billion of “commercial direct deposits” between September 30 and December 13, €2 billion of which since December 4, the date of Italy’s constitutional referendum.
- Wall Street Wrong, Put All Your Eggs in One Basket: Jim Rogers
Diversification is generally considered one of the basic tenets of investing and financial planning. Owning a mix of assets, ideally with a low correlation, including, stocks, bonds, real estate and gold, for example, is Investing 101. That is unless you’re one of the world’s most famous investors, Jim Rogers. Jim doesn’t buy into the cult of asset allocation. “I know that people are taught to diversify. But diversification is just that’s something that brokers came up with, so they don’t get sued,” Jim said. “If you want to get rich… You have to concentrate and focus,” he says. “The expression on Wall Street is, don’t put all of your eggs in one basket. Ha! You should put all of your eggs in one basket. But be sure you’ve got the right basket and make sure you watch the basket very, very carefully.”
- Donald Trump Will Ruthlessly Decimate the CIA for Turning on Him
On Wednesday night, NBC released a report, in collusion with a myriad of anonymous sources reputed to be inside the CIA and other intelligence agencies, claiming that Vladimir Putin personally directed the destruction of Hillary Clinton via hacking hers and the DNC’s servers before the US presidential election. Via NBC: “U.S. intelligence officials now believe with “a high level of confidence” that Russian President Vladimir Putin became personally involved in the covert Russian campaign to interfere in the U.S. presidential election, senior U.S. intelligence officials told NBC News. Two senior officials with direct access to the information say new intelligence shows that Putin personally directed how hacked material from Democrats was leaked and otherwise used. The intelligence came from diplomatic sources and spies working for U.S. allies, the officials said.” The report does not cite any source by name for its information, other than incorrigible moron Micheal McFaul, one time US ambassador to Russia, as a cheerleader for the report.
- Inflation, Stagflation, Hyperinflation & Deflation-All at the Same Time-Egon von Greyerz
Financial expert Egon von Greyerz (EvG) says, “Bond markets around the world are in the biggest bubble in history.” EvG thinks when it blows up, we are going to get hit with everything in the financial horror house. EvG explains, “We are guaranteed to have ‘flation.’ There will be inflation, stagflation, hyperinflation and deflation. We will have all of that. At the same time, a lot of prices will be inflationary or hyperinflationary, at some point, as they print more money. We will also have deflation of debt and deflation of more of the bubble assets that the credit bubble has created. Debt will implode and also property and stocks.”
- Interest Rate Explosion, Russia Did NOT Hack Elections, Facebook Fake News Police?
The Federal Reserve just raised a key interest rate a quarter of a point. This was only the second time in 10 years the Fed raised rates, but the market had already beaten the Fed to the punch. In July, the interest rate for the 10-year Treasury was 1.46%. Five short months later, the same rate is now more that 1% higher. This is what it means when you hear the phrase “the Fed is behind the curve” on interest rates. Losses in the global bond markets are stacking up with the rising rates. Now, there are reports that China and other central banks are dumping U.S. debt at an alarming rate. More than $400 billion in U.S. government bonds was sold this year alone. Could rising interest rates knock Donald Trump’s plans for a loop? The answer, in a word, is yes.
- The Real Reason Why America Has Been Given A Reprieve
This is one of the most important articles that I have written in a long time. The strange events of the past year and a half have befuddled and mystified many, and in this article I am going to explain why America has been given a temporary reprieve. If you go back to June 2015, I warned my readers that major financial problems were imminent, and sure enough in August 2015 we witnessed the greatest financial shaking that we had seen in seven years. I remember getting emails from my readers applauding me for absolutely nailing that prediction, but we were all concerned about what was coming next in September. If you will recall, there was more buzz about September 2015 than any other month that I can ever recall. That was the month of the last blood moon, the end of the Shemitah year and the Pope’s visit to the United States among other things. There was a tremendous amount of anticipation that the crisis that had begun in August 2015 would greatly accelerate in September and lead us into a period of cataclysmic global chaos. But that did not happen. Instead, U.S. financial markets calmed down and eventually recovered. There was a shift in the political realm as well, as the second half of 2015 marked the rise of Donald Trump. During those key months, Trump miraculously built a commanding lead in the race for the Republican nomination that none of his opponents were ever able to overcome. And now that Trump has won the election, an economic surge appears to be happening that is unlike anything that we have witnessed in many years.
- Donald Trump Completes Final Lap, Electoral College, to White House
Republican electors in Texas vaulted Mr. Trump past the 270 mark, granting him all but two of their 38 ballots in a ceremony in the State Capitol in Austin. In the House chamber, where the electors met, the vote was greeted with a standing ovation by citizens and Republican officials who had come to witness the event. Outside, perhaps 100 protesters waved placards and chanted “Save our democracy” in a vain effort to persuade electors to reject the Republican nominee. Normally a political footnote, the electoral vote acquired an unexpected element of drama this winter after Mr. Trump’s upset of Hillary Clinton, who received 2.86 million more popular votes but won in states that totaled only 232 electoral votes. The states Mr. Trump won held 306 electoral votes.
- Australian republicans claim majority of MPs oppose monarchy
A majority of Australian MPs want to break ties with the British monarchy, the nation's republican lobby claims. The Australian Republican Movement says 81 of 150 MPs and 40 of 76 senators favour the move, citing public statements from the politicians. Monarchists have disputed the figures, insisting more support the status quo. The numbers were revealed before an upcoming speech by Prime Minister Malcolm Turnbull to mark the republican movement's 25th anniversary. Mr Turnbull, who led a failed republic bid in 1999 before entering politics, will speak at Sydney University on Saturday.
- Cuba offers rum to pay off $276m Czech debt
Cuba has come up with an unusual way to repay its multimillion dollar debt to the Czech Republic – bottles of its famous rum, officials in Prague say. The Czech finance ministry said Havana had raised this possibility during recent negotiations on the issue. Cuba owes the Czech authorities $276m (£222m), and if the offer is accepted the Czechs would have enough Cuban rum for more than a century. However, Prague said it preferred to get at least some of the money in cash. Havana's debt dates back from the Cold War era – when Cuba and what was at the time Czechoslovakia were part of the communist bloc.
- Greece passes pension deal in defiance of bailout creditors
The Greek parliament has defied the international creditors providing Athens' bailout funds and voted through a one-off payment to pensioners. Plans for the €617m (£517m; $656m) pre-Christmas handout were opposed by European bodies negotiating Greece's financial lifeline. A deal agreed earlier this month to provide the next tranche of debt relief for Athens is now on hold. Prime Minister Alexis Tsipras said Greece would not be blackmailed. Athens said the pension payment would come out of a €1bn tax surplus but European creditors on Thursday said the Greek move raised “significant concerns on both process and substance” regarding the country's bailout obligations.
- What Is The Real Purpose Behind “Fake News” Propaganda?
Here is the first problem with modern political discourse – too many people want to “win” arguments instead of getting to the greater truth of the matter. Discussions become brinkmanship. Opponents launch into immediate attacks instead of simply asking valid questions. They assert immediately that their position is the only valid position without verification. When confronted with rational responses and ample evidence, they dismiss everything instead of pondering what you have handed them. After this line is crossed, there is no point in continuing the debate. It will go on forever. This is one of the great tragedies of the Saul Alinsky method of political confrontation; it has bred entire generations of people who now believe that there is no objective truth. They think everything is relative. Because of this belief, they assume that there is no wrong or right side, no wrong or right goal. Instead, there are only goals that are MORE right than the goals of others. Everything boils down to a “lesser of two evils” mentality, and the ends therefore justify the means. Using dishonest measures to win the fight becomes acceptable.
- Can OPEC Send Oil To $70?
OPEC managed to convince almost a dozen non-OPEC producers to take part in oil production cuts over the weekend, and the news immediately sent international benchmarks higher, prompting a fresh wave of bullish forecasts. The latest, by hedge fund manager Pierre Andurand, is that crude will reach US$70 by June 2017. Andurand made this call before the weekend deal between OPEC and external producers was announced, noting that the Vienna agreement reached among the members of the organization was a “major turning point”. Three months ago, Andurand had forecast that crude would reach US$60 by the end of the year and US$70 in 2017, so he’s now just repeating his earlier prediction, with a sounder basis this time. Back in September, he had said that Saudi Arabia is aware of the long-term implications of a depressed oil market and was ready to take steps to avoid a deficit in the longer run.
- Post-Election Madness – Down the Looking-Glass We Tumble – Into the most Dangerous and Kafka-esque Twilight Zone Imaginable.
I have been writing for years now, that I believe some form of catastrophic collapse is coming for the US (and probably, by extension, for the planet). It has of course been difficult to pinpoint which of the many cracks in US primacy would be the first one to split wide enough open to set off the “collapse dominoes” on their grim journey. Would it be the (increasingly inevitable) collapse of the US dollar? Would it be spiraling hyper-inflation due to the ongoing demise of the petro-dollar and endless money-printing by the Fed? Would it be the ongoing destruction of the middle-class, with nearly 50 million people on food-stamps, and worsening unemployment? Would it be another stock-market crash, this time “unmanageable”? Would it be explosive civil unrest resulting from an ever-simmering race-war? Would it be the US defaulting in one way or another on its (unpayable) debt obligations? Would it be another “terrorist-incident” the likes of which I wrote about in my previous post? The list of fault-lines running through the US is many and varied … and trying to predict which one will ultimately cause a Fukushima-sized earthquake to rock their world … is no small challenge. That such a seismic event is coming however, is something I remain certain of.
- Doug Casey: “Sell All Your Bonds”
So, Trump has won the election. Of course anything can happen between now and his presumed inauguration on January 20. Maybe the Swamp Creatures will succeed in causing a recount in so-called Purple States that could change the number of electors in Hillary’s favor. Maybe they’ll somehow influence Trump electors to vote for Hillary. None of this would have been an issue if Baby Bush II, Jeb, had been the Republican nominee, as was supposed to have happened. It all just shows what a transparent (a word these people love to use) fraud “democracy” has become. Let the hoi polloi cast a meaningless vote, so they have the illusion of being in control. Instead of seeing themselves as subjects, they’ll think they’re “we the people,” who actually have some say in what happens. That way they’ll pay their taxes willingly, enthusiastically sign on to aggressive wars on the other side of the world against people they know nothing about, and generally do as they’re told. Because it’s supposed to be patriotic. “Democracy” is a much more effective scam for controlling the plebs than kingship or dictatorship.
- Hollywood Celebrities Urge Electors Not To Vote For Trump
The push to pressure and overturn the Electoral College vote on December 19 escalated last night, when a group of celebrities created a video to urge Electoral College members to cast their votes for someone other than President-elect Donald Trump on Monday. “You have the position, the authority, and the opportunity to go down in the books as an American hero who changed the course of history,” several celebrities say in turn.
- Bill Holter: Every Society is Only 72 Hours From Pure Anarchy
This past week on his show Operation Freedom, Dr. Dave Janda once again had one of the world’s leading forensic economists on as his guest, Bill Holter, to discuss the dire economic situation closing in not just on the United States right now, but also on hard working ordinary people all around the entire world as well. Last week, in a post titled, Start “Doubling Up On Your Prepping;” Countdown to Economic Collapse, I quoted Mac Slavo who recently said: “Now that the Western world has turned in the direction of Trump and Brexit, it may be that the bankster class is prepared to start the next phase.” It is often said that at any given moment, any society is only 72 hours away from complete anarchy. Why? Because even in the most affluent societies, there isn’t much more than a three day supply of food available. Once food runs out, economic conditions can deteriorate so quickly that they rival scenes found in big Hollywood blockbusters like Mad Max. Look at Venezuela for example, where people have been breaking into zoos, and killing the animals to eat for food.
- George Soros Is Funding Facebook's “Third-Party Fact Checking” Organization Targeting “Fake News”
Behind almost every liberal crusade of the past several decades, from the blocking of voter ID laws to the Syrian refugee crisis, there has been one man quietly pulling the puppet strings from the background: George Soros. So imagine our complete shock when we discovered Soros to be the financing source behind Facebook's “third-party fact checking” organization retained to flag, and thus eliminate, “fake news.” Just yesterday, Facebook posted the following press release to their website detailing their plans to use a “third-party fact checking organization,” known as The Poynter Institute, to flag “fake news.” The role of the “fact checkers” will be to review news stories and flag anything they deem to be “fake” so that it can be deprioritized on Facebook's news feed.
- The Coming Fracture Of Saudi Arabia
The Bible’s book of Galatians, VI teaches, «as you sow, so shall you reap». And for Saudi Arabia, which has overtly and covertly supported rebellions in Libya, Syria, Iraq, Yemen, Ethiopia, Philippines, and Lebanon that have led to civil wars and inter-religious strife, the day of reckoning may soon be at hand. The present Saudi king, Salman bin Abdul Aziz, is the last of the sons of the first Saudi king, Abdul Aziz al Saud, who will ever sit on the Saudi throne. After Salman dies, Saudi leadership will pass to a new generation of Saudi royals. But not all the descendants of the first Saudi king are happy about how the future succession may turn out. Salman named his nephew, Mohammed bin Nayef, as crown prince after firing his half-brother, Mugrin bin Abdul Aziz, as crown prince after the death of King Abdullah in 2015. For good measure, Salman also named his son, Mohammad bin Salman, who is little-known outside the kingdom, as deputy prime minister. The 30-year old Mohammad bin Salman is seen by some as the eventual crown prince after King Salman figures out some way to ease Mohammad bin Nayef, the Interior Minister and close friend of the United States, out of the position of heir apparent to the throne.
- NSA Whistleblower Destroys Obama's Russia Narrative – “Hard Evidence Points To An Inside Leak, Not Hacking”
A group of retired senior intelligence officials, including the NSA whistleblower William Binney (former Technical Director, World Geopolitical & Military Analysis, NSA), have posted an open letter on consortiumnews.com that destroys the Obama administration's “Russian hacking” narrative. Within the letter, Binney argues that, thanks to the NSA's “extensive domestic data-collection network,” any data removed remotely from Hillary Clinton or DNC servers would have passed over fiber networks and therefore would have been captured by the NSA who could have then analyzed packet data to determine the origination point and destination address of those packets. As Binney further notes, the only way the leaks could have avoided NSA detection is if they were never passed over fiber networks but rather downloaded to a thumb drive by someone with internal access to servers.
- Russia more financially stable than China – report
The Bank of America Merrill Lynch’s latest ranking of developing nation economies has put Russia ahead of China in terms of financial stability. The report released earlier in the week predicted a recovery in emerging markets – Russia, being a case in point – amid modest global economic growth. “Modest economic growth of 4.7 per cent is expected in emerging markets [in 2017], up from 4.1 per cent, which is better than in the U.S. and the rest of the developed world,” the report said. The report looks at fiscal stability versus vulnerability, growth and inflation versus stagflation, and high debt, among other factors. South Korea is the most fiscally stable emerging market; Russia comes in second, followed by China. India will gain top the world in terms of GDP growth, coming in at 7.6 per cent – a full one per cent ahead of China, but it came in fourth, one ranking below China in fiscal stability. Brazil fell to the eighth ranking while South Africa remained where it was last year, at the bottom of the top 10 emerging markets.
- Germany to force Facebook, Google and Twitter to act on hate speech
Germany is to consider new laws that would force social media platforms such as Facebook and search engines such as Google to take a more active role in policing illegal hate speech on their sites. Measures considered by Angela Merkel’s coalition government include forcing companies to set up clear channels for registering complaints, to publish the number of complaints they receive and to hire legally qualified ombudsmen to carry out deletions.
- We’re Starting to See a Huge Disconnect Between Physical and Paper Gold
Each day, when the stock market closes, it’s surprising that Americans on Main Street can’t hear coastal elites in their network studios by the sound of all their “Oooooohs,” and their “Ahhhhhhs,” as equity markets keep closing higher and higher. Sadly, for the American people who are relying on our woefully dishonest mainstream media for the valuable information they need, no one is talking about what’s happening in the bond market. If there is one thing liberals hate, it’s history (unless of course we’re talking about revisionist history), but if you look throughout history, virtually every single stock market crash we’ve ever had came immediately after a major bond crash, and bonds are beginning to crash in a major way! Despite the mainstream media ignoring it, there has been plenty of information available about enormous amounts of U.S. Treasuries being dumped at once. On multiple occasions over $100 billion in Treasuries has been dumped, often within just a few days.
- What's Missing From The Russian Hack Argument?
Without any proof or evidence being presented that Russia interfered with our election, we're just seeing political grandstanding at this point by both President Obama and Secretary Clinton. Have you noticed that there's never any mention or concern about Secretary Clinton having a private server in her home? If anything, that server would have made it much easier for Russia (or anyone else) to know what was going on with our government.
- Senate Quietly Passes The “Countering Disinformation And Propaganda Act”
While we wait to see if and when the Senate will pass (and president will sign) Bill “H.R. 6393, Intelligence Authorization Act for Fiscal Year 2017”, which was passed by the House at the end of November with an overwhelming majority and which seeks to crack down on websites suspected of conducting Russian propaganda and calling for the US 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,” another, perhaps even more dangerous and limiting to civil rights and freedom of speech bill passed on December 8. Recall that as we reported in early June, “a bill to implement the U.S.’ very own de facto Ministry of Truth has been quietly introduced in Congress. As with any legislation attempting to dodge the public spotlight the Countering Foreign Propaganda and Disinformation Act of 2016 marks a further curtailment of press freedom and another avenue to stultify avenues of accurate information. Introduced by Congressmen Adam Kinzinger and Ted Lieu, H.R. 5181 seeks a “whole-government approach without the bureaucratic restrictions” to counter “foreign disinformation and manipulation,” which they believe threaten the world’s “security and stability.”
- New York Times to Vacate ‘at Least’ Eight Floors as Profits Tumble
The New York Times is planning to vacate “at least eight floors” in its Manhattan headquarters as part of a plan to cut costs, generate rental income, and redesign office space, according to an internal memo. In a message to company employees, CEO Mark Thompson said that the company had “made the decision to consolidate our footprint across the building to create a more dynamic, modern and open workplace, one that is better suited to the moment.” “We’re planning significant investments in a redesign of our existing space in order to facilitate more cross-departmental collaboration. We expect a substantial financial benefit as well. All told, we will vacate at least eight floors, allowing us to generate significant rental income,” he continued.
- Is Americans’ Unfettered Optimism Starting to Border on Dangerous?
In a survey conducted by CNBC for the fourth quarter, the survey found that the percentage of Americans who believe the economy is going to get better in the next year jumped an unprecedented 17 points to 42 percent after Donald Trump’s victory, when compared to surveys taken before the election results were in. Right now, it’s hard to deny that much of the country is experiencing what Michael Snyder refers to as “Trumphoria,” but is what they’re experiencing safe? According to another survey taken earlier this year, only six percent of Americans polled said they have “a great deal of confidence” in the mainstream media, and with good reason. Because the mainstream media has failed so horribly to live up to even the most basic of journalistic standards, and because they media has failed to give the American people honest and unbiased reporting, far too many Americans greatly overestimate what any president can do to alter our economic trajectory, particularly after decades of the abysmal monetary policy this country has been engaged in.
- Canadian Journalist on lies about Syria | December 9th 2016
Press Briefing by Syrian Mission. Speakers: Sara flounders, Activist, Donna Nassor, lawyer and human rights and peace activist, Dr. Bahman Azad, Member of the Coordinating Committee for the Hands Off Syria and Organization Secretary of US Peace Council, and Eva Bartlett, Independent Canadian Journalist.
- Inevitable Global Ruin: Top Hedge Fund Managers Sound the Alarm
When monetary control is centralized, as it is today, prosperity withers. The Wall Street Journal just surveyed top hedge fund managers and found a significant belief that full-fledged, global ruin is on its way. Tamper with freedom, monetarily or otherwise, and you end up facing catastrophe. That’s just where we are today. The managers pointed directly at the purposeful monetary mismanagement of central banks around the world. These central banks large and small are pumping oceans of money into financial markets as well as lowering rates until they are actually negative, which has never happened before in recorded history. When the final catastrophic implosion eventually occurs, we will look back on this era with amazement, wondering how people didn’t sense the disaster to come.
- The House Passes A Microchipping Law That Is Intended To Help Local Authorities Microchip Disabled People
The U.S. House of Representatives has passed a bill that would get the federal government heavily involved in microchipping disabled people for tracking purposes. If you would like to read it for yourself, you can find H.R. 4919 right here. The bill is also known as Kevin and Avonte’s Law, and the idea behind it is that if disabled people are microchipped it won’t be so easy for them to get lost. Of course we have been microchipping pets in this country for years, and this is yet another giant step down the road toward universal microchipping of everyone. We are being told that implanted microchips will make those with developmental disabilities “safer”, but where does this stop? Pretty soon there will be a huge push to microchip all children “for their safety”, and once that is accomplished it won’t be too long before they will want to microchip the entire population.
- ECB Warns Paschi on Post Referendum Liquidity in Stress Test
Banca Monte dei Paschi di Siena SpA said the European Central Bank rejected its request to extend a capital increase into January over concerns that the Italian lender’s liquidity “is progressively deteriorating in the wake of the Dec. 4 referendum.” The ECB said that under a negative stress-test scenario, the Siena-based bank has “a 29-day time horizon” in which it can meet its liquidity needs without resorting to new intervention,’’ according to an updated prospectus for its capital increase. The stress test scenario assumes a liquidity exit of 10.3 billion euros ($10.8 billion) within a month, according to the prospectus.
- Major Economic Warning Sign: The Euro Is Heading For Parity With The U.S. Dollar
The collapse of the euro is accelerating, and it looks like we could be staring a major European financial crisis right in the face early in 2017. On Thursday, the EUR/USD fell all the way to $1.0366 at one point before rebounding slightly. That represents the lowest that the euro has been relative to the U.S. dollar since January 2003. Ever since 2011, I have been relentlessly warning that the euro is heading for parity with the U.S. dollar. When the EUR/USD was trading at about $1.40 that must have seemed like crazy talk, but I never wavered. I just kept warning people that the euro was going to weaken greatly relative to the U.S. dollar. Here is one example from March 2015: “How many times have I said it? The euro is heading to all-time lows. It is going to go to parity with the U.S. dollar, and then it is eventually going to go below parity.” After Thursday, we are almost there, and once we do hit parity that is going to be a sign that all sorts of chaos is about to erupt in Europe.
- Foreigners are Dumping US Treasurys as Never Before
All kinds of things are now happening in the world of bonds that haven’t happened before. For example, authorities in China today halted trading for the first time ever in futures contracts of government bonds, after prices had swooned, with the 10-year yield hitting 3.4%. Trading didn’t resume until after the People’s Bank of China injected $22 billion into the short-term money market. What does this turmoil have to do with US Treasurys? China has been dumping them to stave off problems in its own house. The US Treasury Department released its Treasury International Capital data for October, and what it said about the dynamics of Treasury securities is a doozie of historic proportions.
- Currency Armageddon? A Word about the Hated Dollar – The “death of the dollar” will have to be rescheduled
Sharply higher yields on Treasury securities and the prospect of more rate hikes by the Fed – in a world where other major central banks are still stewing innocent bystanders in the juices of NIRP, negative yields, and “punishment interest” – sent the hated dollar, whose death has been promised for a long time, soaring. It soared against the euro. Or, seen from the other side, the euro plunged against the dollar, to $1.039, the lowest level since January 2003; down 35% from its peak of $1.60 during the Financial Crisis; down 10% from its 52-week high in March of $1.16; and down 2.7% from $1.068 yesterday before the Fed announcement. Pundits are once again declaring that the euro will fall to “parity” with the dollar, as the ECB has been wishing for a long time, though it cannot admit officially that it is trying to crush the euro to give member states an export advantage. That would be “currency manipulation,” which is frowned upon in other countries. But a big wave of “money printing” and forcing yields below zero “to stimulate the economy,” whereby the currency gets crushed as a side effect, is OK.
- Rep. Rohrabacher: Putin didn’t steal election
The allegation that the Russians intervened in last month’s election remains just that: an allegation. Even the FBI and the CIA are conflicted over what happened. The absence of certainty has not stopped Hillary Clinton’s supporters from promoting the pathetic charge that the Russians rigged the election. One can appreciate our foreign policy establishment’s anxiety about the incoming administration’s apparent tilt toward Russia. The country is run by a strongman, Vladimir Putin, who has said and done much we don’t like. But suggesting he stole our election is a self-serving fallacy. More investigative journalism was undertaken by the hackers, whoever they were, than by the media establishment, which was consumed by a passion to defeat Donald Trump. The information they provided was factual, giving voters more information.
- Yellen Speaks, Yields Spike, Mortgage Rates Jump, Oil Plunges: But Why?
Stocks sold off, starting at 2:04 PM, as the Fed’s slightly more hawkish stance was sinking in. The S&P 500 ended the day down 0.8%. Not even a tempest in a teapot. Gold sold off, now down 17.6% since July. Oil plunged over 4%, but unrelated to the Fed: the market is figuring out that nothing beyond wild jabbering by oil potentates is happening to contain the oil glut. But natural gas jumped nearly 3%, based not on the Fed, but on the weather. And bonds? Another opportunity to use the word “rout” or “carnage.” The Fed increased its target rate for the second time in nearly a decade, after having done so a year ago for the first time. It raised it from next to nothing by nearly nothing to a little above nothing: a range of 0.5% to 0.75%. But according to its dot plot, whose reliability has become a joke, it will raise rates three times next year, up from the prior dot plot which indicated only two hikes.
- Barack Obama promises retaliation against Russia over hacking during US election
Barack Obama has warned that the US will retaliate for Russian cyberattacks during the presidential election. In an interview on National Public Radio on Friday morning, the US president said he is waiting for a final report he has ordered into a range of Russian hacking attacks, but promised there would be a response. “I think there is no doubt that when any foreign government tries to impact the integrity of our elections … we need to take action,” Obama said. “And we will – at a time and place of our own choosing. “Some of it may be explicit and publicised; some of it may not be.” The CIA has judged that the Russian cyber attacks, including the hacking of emails from the Democratic National Committee, were intended to influence the election in Donald Trump’s favour, according to reports. The FBI agrees that there was Russian hacking but has not as yet concluded it was intended to favour the Republican contender. Senators from both parties have called for a congressional enquiry, while Trump himself has rejected the reports and his office has derided the CIA.
- Money Under Fire – A reminder of the great wealth transfer underway
One serious predicament we face is that the current leaders in the halls of monetary and political power do not appear to understand the dimensions of our situation. The mind-boggling part about it is that the situation is easy to understand. Our collective predicament is simply this: Nothing can grow forever. Sooner or later, everything must cease growing, or it will exhaust its environs and thereby destroy itself. The Fed is busy doing everything in its considerable power to get credit (that is, debt) growing again so that we can get back to what it considers to be “normal.” But the problem is – or the predicament, I should more accurately say – is that the recent past was not normal.
- Academic: Former Stasi Secret Police Informant Unfit to Lead Government Internet Censorship Task Force
The Ministry of Justice has come under renewed pressure to cut ties with Anetta Kahane after a Stasi expert declared her unfit to lead a “sensitive task like controlling the internet” based on her history working with the Communist secret police. A review of the former Stasi informant’s files has led to further questions over Justice Minister Heiko Maas’s decision to use Kahane’s Amadeu Antonio Foundation to oversee a programme of removing “hate speech” online and prosecuting its authors. Writing in Focus on Sunday, Communist political oppression academic and Stasi expert Dr. Hubertus Knabe, said it is “incomprehensible” that the ministry chose a foundation headed by Kahane to lead a “sensitive task such as controlling the internet”.
- China Dumps Treasuries: Foreign Central Banks Liquidate A Record $403 Billion In US Paper
One month ago, when we last looked at the Fed's update of Treasuries held in custody, we noted something troubling: the number had continued to drop sharply, declining by another $14 billion in one week, and pushing the total amount of custodial paper to $2.788 trillion, the lowest since 2012. One month later, we refresh this chart and find that in last week's update, there is finally some good news: foreign central banks finally bought some US paper held in the Fed's custody account, which following months of liquidation, rose over the past two weeks by $23 billion, the biggest two-week advance since November of 2016, pushing the total amount of custodial paper to $2.816 trillion, the highest since early October.
- Paschi to Proceed With Share Sale, Bigger Swap to Avert Aid
Banca Monte dei Paschi di Siena SpA will seek to sell shares by the end of the year and extend a debt-for-equity swap in a last-ditch effort to raise 5 billion euros ($5.2 billion) privately and avoid a state rescue. The swap offer will be increased to 4.5 billion euros and will include its so-called FRESH 2008 hybrid bond, the Siena, Italy-based bank said in a statement on Wednesday. Bondholders have already agreed to exchange about 1.02 billion euros for shares. The swap offer for retail investors as well as the share sales reserved to them are subject to regulatory approval. “It’s a challenging attempt, with a high execution risk,” said Jacopo Ceccatelli, head of Marzotto SIM SpA, a Milan-based broker-dealer. “It can only be successful if a white knight is available to invest in the bank. I doubt they can get one now after having unsuccessfully tried for months to get commitments from investors around the world.”
- Facebook is going to use Snopes and other fact-checkers to combat and bury ‘fake news'
Facebook is going to start fact-checking, labeling, and burying fake news and hoaxes in its News Feed, the company said Thursday. The decision comes after Facebook received heated criticism for its role in spreading a deluge of political misinformation during the US presidential election, like one story that falsely said the Pope had endorsed Donald Trump. To combat fake news, Facebook has teamed up with a shortlist of media organizations, including Snopes and ABC News, that are part of an international fact-checking network led by Poynter, a nonprofit school for journalism in St. Petersburg, Florida.
- Swedish towns told to ‘make preparations regarding the threat of war and conflict' with Russia
Sweden’s towns and villages have been ordered to make preparations for a possible military attack in the latest sign of the country’s growing anxiety at its newly belligerent Russian neighbour. The country’s Civil Contingency Agency (MSB) last week sent a letter to local authorities across the country asking them to maintain operations centres in underground bunkers, ensure that a system of emergency sirens is in place, and to be open to cooperating on war exercises with the Swedish Armed Forces.
- Virgil: The Deep State vs. Donald Trump
Do the Democrats want Donald Trump to become the 45th president? Of course not. And how about the Democrats’ handmaiden, the Main Stream Media? Do they want Trump in the White House? Of course not. And how ‘bout all the other affluent residents of the Washington “swamp,” which Trump has pledged to drain—do you think any of them want Trump? Of course not. Together, these anti-Trump constituencies help form what has been called the Deep State, which is a real and serious thing, and which we will explore further in a moment. Yet first, we can take a look at the latest news, because let’s not kid ourselves: These anti-Trump constituencies might have lost the 2016 presidential election at the ballot box, but they don’t intend to lose their power. And to that end, they have real clout, and they are using it. In particular, wily in the ways of Washington, the anti-Trumpers are operating behind the scenes, using their well-greased legal and political machinery to block the President-elect, or at least to discredit and de-legitimize him, such that his presidency is crippled. And as a part of that backroom effort, the MSM is always ready with a supportive, momentum-building headline or two—or two thousand.
- Trump Honeymoon in Markets Will End in 2017-Mike Maloney
Precious metals expert Mike Maloney says the rise you have seen in the stock market since Trump was elected will end sooner than later. Maloney explains, “Trump is probably, in the long term, going to be better for business. That’s the reason the stock markets are going up and the dollar is going up. So, gold is going down. However, this is a love affair that will probably last three to six months, and by April or May, you’ll probably see the markets topping out. We are already more than seven years into this economic expansion. The last recession started in 2008 and ended in 2009. So, we’re over seven years into this expansion, almost eight. It’s becoming the third longest economic expansion in history. . . . This recovery that we have had has been purchased for $3.2 trillion of base currency creation. That is four times what we produced in the previous 200 years as far as base currency goes. This recovery was a purchased thing, and we are near the end of it. It can’t go on forever. . . . We are in that rarified territory, the nosebleed territory, when a crash happens, it’s a big crash. We are just right around the corner from a recession. It’s just not possible to have an economic expansion that goes on forever when you have a fiat currency system, and a debt based monetary system.”
- Harvard University Professor Claims That 20 Republican ‘Faithless Electors’ Are Considering Voting Against Trump
If what a Harvard University constitutional law professor is claiming is true, the plot to steal the Electoral College vote from Donald Trump is far more serious than most people thought. Larry Lessig briefly pursued the 2016 Democratic presidential nomination, but these days he is using his position as a Harvard law professor to try to stop Donald Trump. His new organization is called “Electors Trust”, and it has been acting as a central hub for the campaign to deny Trump the 270 votes that he needs to become the next president. If this effort is to be successful, anti-Trump forces need to flip 37 of Trump’s votes, and Lessig says that so far 20 Republican electors are considering voting against Trump. Of course there are many that are skeptical of his claims, but why would a Harvard constitutional law professor lie about something like this? If Lessig is telling the truth, the Trump team should be deeply alarmed. It would be a grave mistake to simply assume that this Electoral College vote will be a formality, and we will find out on Monday what happens.
- After Raising Rates Once During The Obama Years, The Fed Promises Constant Rate Hikes During The Trump Era
Now that Donald Trump has won the election, the Federal Reserve has decided now would be a great time to start raising interest rates and slowing down the economy. Over the past several decades, the U.S. economy has always slowed down whenever interest rates have been raised significantly, and on Wednesday the Federal Open Market Committee unanimously voted to raise rates by a quarter point. Stocks immediately started falling, and by the end of the session it was their worst day since October 11th. The funny thing is that the Federal Reserve could have been raising rates all throughout 2016, but they held off because they didn’t want to hurt Hillary Clinton’s chances of winning the election. And during Barack Obama’s eight years, there has only been one rate increase the entire time up until this point. But now that Donald Trump is headed for the White House, the Federal Reserve has decided that now would be a wonderful time to raise interest rates. In addition to the rate hike on Wednesday, the Fed also announced that it is anticipating that rates will be raised three more times each year through the end of 2019…
- 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.
THE FINAL BUBBLE! Pastor Williams says the information shared by this economist is outstanding and correct. What he says will happen. >>> CLICK HERE TO WATCH THE VIDEO (This video is being shared because the information within it is truly good and correct. Half way through the video it turns into a sales pitch to sell a book and related products. Pastor Williams has asked me to state that Pastor Williams and LindseyWilliams.net do not endorse this book).
From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.
Latest News From December 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.
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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.”
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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…
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?
Latest News From November 10, 2016 to November 17, 2016:
- James Turk – What Donald Trump Faces Is Very Different From What Ronald Reagan Faced, Expect Major Market Moves…
As we kick off the third week of trading in November, today James Turk spoke with King World News about why what Donald Trump faces is very different from what Ronald Reagan face, but here is the good news… James Turk: “Congratulations to Mr Trump. If his presidency is as remarkable as his election, Eric, he could go down in history as a great president. I expect that a lot of things will change because of Trump. That’s what voters want…
- A professor has made a list of websites she says publish ‘fake' or ‘misleading' news
On Monday, Google and Facebook announced measures to ban fake news websites from using their advertising networks. Previous attempts by Google AdSense and Facebook Audience Network saw the companies ban sites that “misrepresent, misstate or conceal information”. However the proliferation of fake news during the US elections, some argued, swayed votes towards Donald Trump and prompted the social media platform and giant search engine into changing their policies.
- Trump’s Victory: A Historical Upset
I have to admit it. I fully did NOT expect Donald Trump to become the 45th President of the United States of America. All of the odds were against him: He was underfunded compared to Hillary’s money machine; Nearly every media source was openly against him; Not one major celebrity came out to support him; He was labbeled a racist and a misogynist; All leading figures of his own party abandoned him; Much of his policies were in direct opposition with the aims of the globalist elite; Robert DeNiro said he wanted to punch him in the face.
- Facebook, Google announce new policies to fight fake news
Two of the world’s biggest internet companies, Google and Facebook, are taking new steps to fight the rising tide of fake news — in other words, conspiracy theories and misleading information from no-name sites masquerading as news— that exploded on their platforms during this campaign cycle. The problem has grown to the point that it is now too big to ignore. Both companies have come under fire for widely-shared fake news stories that spread false information about the candidates. In a move disclosed Monday, Google said it will withhold lucrative digital ads from appearing on any sites that “misrepresent, misstate, or conceal information.” The new policy could give news and information sites greater incentive to avoid false headlines or risk losing revenue.
- Here’s Where Trillions of Investor Dollars Went After Trump’s Big Win
We expected the Super Shemitah/Jubilee time period (which officially ends on November 20th with the end of the Catholic Jubilee) to be one of dramatic change and chaos. And, did we ever get it! Since the beginning of the Jubilee year, in October of last year, two massive events have happened. Brexit and Trump. Both were completely unexpected by most. Brexit saw the worst day in worldwide stock markets in history the day after the vote. And, interestingly, Dow futures were down 777 points at one point as it became clear Trump had won the “selection.” But, then the markets had a massive rebound the next day.
- Legend Art Cashin On A Trump Presidency, The New World Order, Gold, Brexit, The Great Depression And Why We Will See Panic
As the bond market continues to melt down, interest rates rise and the Dollar Index surges above 100, legend Art Cashin gave one of his most important interviews ever to King World News about a Trump presidency, the New World Order, gold, Brexit, the Great Depression, and why we will see panic before the end of the year. Eric King: “In Trump’s acceptance speech he said that we are going to have massive infrastructure spending. Is that bearish for gold? I don’t think so.”
- This Wasn’t A Vote, It Was An Uprising
The article below has come to me. I am unable to ascertain if it is a published statement or one of those items sent around the Internet. Nevertheless, I do believe that it captures the attitude of those Americans who in the vast majority of the states gave their vote to Donald Trump. The optimism expessed in the article might be unrealistic. In order to prevail over the Oligarchy, President Trump will need a government as strong as he appears to be. He cannot find the strength he needs for his government among the usual Washington, Wall Street, and corporate sources. If he selects from these people, he will be impotent. The question is: who is his transition team? Are they focused on making nice with the Oligachs? If so, there will be no change.
- Dow’s Trump-Fueled Surge is Difficult to Explain
From David Fabian: It feels like we have almost packed a full year’s worth of stock market price action into just the last two weeks. With so many diverging market sectors and overall fluctuations, I thought it would be prudent to do an examination of some key charts. Taking a closer look at these categories can help frame macro views as well as determine areas of strength and weakness.
- Here’s Where Trillions of Investor Dollars Went After Trump’s Big Win
From ZeroHedge: The early winners and losers of Trump’s presidential win are very clear, with trillions of dollars flying around as investors attempt to position themselves for the next four years. Despite the repeated warnings by websites such as this one that the polls showing Hillary Clinton ahead of the election were rigged and manipulated, misrepresenting the real popular support of the two candidates, and that the likelihood of a “shock” Trump victory is far greater than anyone was willing to admit, both traders, the media, and the punditry were stunned by the outcome which, just like Brexit, few had actually anticipated. The result, at least in global capital markets, has been an unprecedented repricing of risk assets.
- War On Cash Intensifies: Citibank To Stop Accepting Cash At Some Branches
Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia. Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the banks.” (How convenient that a bank would propose something that’s good for banks!) This isn’t the first time that the financial establishment has pushed for a cashless society in Australia (or anywhere else).
- Krugman Gets His Alien Invasion – And Gold Bugs Get Paradise
Nobel Prize winning economist and uber-liberal New York Times columnist Paul Krugman likes to illustrate his philosophy by noting that the threat of an alien invasion would help the economy by stimulating government spending. Well, last week’s election gave Krugman and the rest of the Keynesian establishment their alien invasion (Trump and company being only partially human when viewed through Beltway-culture eyes).
- Twitter cracks down on alt-right accounts
Twitter is cracking down on accounts belonging to members of the alt-right movement in the wake of Donald Trump's victory in the presidential election, USA Today reported Wednesday. The social networking website suspended the accounts of several prominent figures, including Richard Spencer, president of an alt-right think tank. Spencer, who had a verified account, told The Daily Caller News Foundation that Twitter's action “is corporate Stalinism.”
- A Third of Anti-Trump Protestors Arrested in Portland Didn’t Vote
The streets of downtown Portland have swelled with protesters each night since Donald Trump won the presidential election on Tuesday, and on occasion the protests have turned violent. That’s led to 112 arrests in the last week and a review of state election records by a local news station shows that more than a third of those arrested didn’t even vote.
- Who will be Trump's chief of staff? Kellyanne Conway says the announcement of The Donald's assistant is ‘imminent'
Kellyanne Conway, Donald Trump's campaign manager, has said that the announcement for the White House chief of staff is ‘imminent'. Conway told reporters late Saturday night that there are ‘several people being considered' for the position, according to ABC News. But, she added, ‘it's Mr Trump's decision ultimately'. She said that she thinks ‘Reince Priebus has expressed interest in the position' as well.
- George Soros
“I cannot and do not care about the social consequences of what i do.” explains it right there folks…..
- Permian’s Wolfcamp formation called biggest shale oil field in U.S.
In a troubled oil world, the Permian Basin is the gift that keeps on giving. One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. That’s almost three times larger than North Dakota’s Bakken play and the single largest U.S. unconventional crude accumulation ever assessed, according to the U.S. Geological Survey. At current prices, that oil is worth almost $900 billion.
- REVEALED: Donald Trump vows to ‘reopen 9/11 probe' that could ‘spark a revolution'
Disenfranchised working class voters propelled the billionaire reality star into the White House this week in one of the biggest election upsets in US history. In his first days as President-elect, Republican Trump has given few clues on how he plans to honour his pledge to “Make America Great Again”. But ahead of his Brexit-style election earthquake, Trump threatened to lift the lid on one of the most catastrophic terror attacks in modern history.
- Soros-Funded Anti-Trump Protesters Rioting in Cities Across America: Fomenting National Crisis and Martial Law?
Globalist investor in murder and mayhem George Soros is at it again, funding his MoveOn.org to organize post-election “sour grapes” protests around the country in response to underdog Trump’s surprising President-elect victory. Complicit crime partner mainstream media is having a field day deceitfully spinning these top down, billionaire driven demonstrations as a spontaneous, grassroots populist uprising against racist dictator Donald. From a press release from MoveOn.org: The gatherings – organized by MoveOn.org and allies – will affirm a continued rejection of Donald Trump’s bigotry, xenophobia, Islamophobia, and misogyny and demonstrate our resolve to fight together for the America we still believe is possible.
- Goldman Just Killed The “Reflation Euphoria” – Concludes Global Growth Will Suffer Under Trump No Matter What
Earlier today, we presented an analysis by Goldman Sachs which emerged with a lukewarm take on Trump's policies as to how they stand to impact US domestic growth, with only Goldman's “adverse” scenario resulting in a “stagflationary”, i.e., recessionary outcome. However, in a follow up report by another set of Goldman economists Nicholas Fawcett and Sven Jari Stehn, one which looks at the broader global set of Trump policy consequences for the entire world – because after all, the US is still a part of it – it finds that virtually every scenario leads to a global contraction, something we previewed yesterday in our post titled “What’s Good For The US In This Case, Is Not Good For Emerging Markets.”
- The Anti-Trump Protesters Are Tools of the Oligarchy — Paul Craig Roberts
Who are the anti-Trump protesters besmirching the name of progressives by pretending to be progressives and by refusing to accept the outcome of the presidential election? They look like, and are acting worse than, the “white trash” that they are denouncing. I think I know who they are. They are thugs for hire and are paid by the Oligarchy to delegitimize Trump’s presidency in the way that Washington and the German Marshall Fund paid students in Kiev to protest the democratically elected Ukrainian government in order to prepare the way for a coup.
- Keiser Report: Gaddafi-like Death to Clinton's Political Career (E992)
In this episode of the Keiser Report, Max and Stacy discuss the gruesome Gaddafi like death to a political career. They look at the role of Obamacare premium increases in middle income voter discontentment with the Democratic Party. In the second half, Max interviews Dr. Michael Hudson about what went wrong for Hillary.
- Forget Trump – Is Deutsche Bank The First Domino of the Next Economic Collapse?
The FIRST DOMINO of Contagion: Will Deutsche bank be the catalyst for the collapse of the European banking system?
- The Amazing Collapse of Russia’s Auto Market
We don’t hear much from the global automakers and their analysts about the multi-year sales fiasco in Russia, in part because they don’t like to bring up crummy data unless they have to. And they don’t have to. For them, Russia is just a tiny market, compared to China and the US: through October this year, new light vehicle sales in Russia amounted to about 8% of sales in the US. Since 2010, auto sales in China, the US, and many other countries have boomed. And they grew in Russia too, but only until late 2012, when the market began to stall. They declined in 2013. Then, when the sanctions hit in 2014, the market sagged. When the oil bust hit in 2015, the market crashed. And to this day, it continues to head south. The numbers are stunning.
- Anti-Vaccination Proponent Melania Trump Delivers Powerful Speech
Vaccinate your kids, they say. It’ll be safe, they say. The only problem is that “they,” isn’t vaccinating their children. Tonight, Melania Trump, the wife GOP Presidential nominee and potential First Lady of the United States, took the stage in grand fashion to endorse her husband’s controversial campaign. Melania has come from a rural town in Slovenia to the brink of being one of the world’s most powerful women. For husband Donald, Melania serves as a puzzle piece that doesn’t seem to fit with liberal rhetoric. Trump’s being painted as a racist and xenophobic and misogynist, something Melania’s presence seems to deny even without her ringing endorsements of him. She’s an immigrant, a woman, a cultural infusion.
- The Global “Populist” Doom Tour Swings to Italy
Widespread public disaffection and dissatisfaction are not unique to the UK and US; they’re on the rise all over the developed world. It’s not hard to see why. In the words of Mark Blyth, one of an embarrassingly small number of economists to correctly call both Brexit and the victory of Trump, the last 30 years have seen “a huge amount of economic growth but hardly anyone’s benefited from it.” And now the people are “fed up” and have decided at any opportunity to “give their elites notice that they’ve had enough.”
- Here’s My Experience with Healthcare in Mexico
An acquaintance of mine was walking around with a bandaged hand so I asked him what had happened. He was working and something slipped and he ended up with a nasty gash on the back of his hand. He went down to the local clinic and they put in 8 stitches. The total bill was $52. Three years ago, I fell on a tile floor and broke my pelvis in 3 places. I was picked up by an ambulance, driven 40 miles to a private hospital where I spent 6 days and had a 5 hour surgery to repair the damage. They put in 3 pins, a plate, and 6 screws. The total bill was $22,000. I have no idea just how many stitches they put in, but the incision is 14″ long. That was the total bill, no insurance.
- The Far Left Is Planning The Biggest Political Protest In United States History For Inauguration Day
We have seen very large protests in major cities all over America since Donald Trump won the election, but the biggest one of all is being planned for January 20th. Radical leftists are calling for thousands upon thousands of activists to descend upon Washington D.C. on Inauguration Day, and they are planning to disrupt the inauguration festivities as much as they possibly can. And if you doubt that the “Not My President” movement can pull this off, you may want to consider that 25,000 protesters showed up in New York City on Saturday on very short notice. These people are bitter, angry, frustrated and incredibly motivated. At this point they still have more than two months to organize their forces, and many are expecting that this is going to be the most chaotic Inauguration Day in American history.
- “Is The Market Wrong?”: Financial Conditions Are Tightening At An Alarming Pace
As a result of the recent spike in yields, and surge in the dollar following the Trump victory, the market's reaction has been to assume that this is a harbinger of rising inflation due to a tidal wave of “imminent” fiscal easing, and has accordingly pushed up the December rate hike odds to above 90%. After all, the logical offset of the expected easing in fiscal conditions is for the Fed to tighten monetary policy, arguably the only source of market gains (and economy support) over the past 7 years. But is the market wrong?
- President-elect Trump speaks to a divided country on 60 Minutes
The following script is from “The 45th President,” which aired on Nov. 13, 2016. Lesley Stahl is the correspondent. Rich Bonin and Ruth Streeter, producers. During what seemed an interminable campaign, a divided country found all kinds of ways to describe Donald Trump: visionary businessman, vulgar self-promoter, political neophyte. But after Tuesday, for all Americans, there’s only one description that counts: president-elect.
- Bonds bloodied as Trump spending plans spur dollar
Routs in global bonds and emerging markets intensified, while the dollar climbed with base metals as investors positioned for the wave of fiscal stimulus that Donald Trump has pledged to unleash. The yield on 30-year Treasuries rose to the highest since January, with last week’s record debt selloff bleeding into Monday trading and weighing on credit markets.
- Democrats Are Now Calling For A ‘Revolution In The Streets’, And I Believe That They Are Quite Serious
The surprise victory by Donald Trump on November 8th has spawned a series of violent protests and riots all over the nation as stunned leftists continue to throw the largest post-election temper tantrum in U.S. history. Protesters in large cities all across America have been disrupting public transportation, looting stores, hurling objects at the police and burning Trump in effigy. There have even been shootings at anti-Trump rallies in Seattle and in Portland. Hundreds of protesters have been arrested so far, and organizers are promising that this is only just the beginning. Meanwhile, large numbers of enraged leftists are physically threatening Trump on Twitter, and some are even calling for a violent revolution. Sadly, I believe that they are quite serious about this.
- Popular Vote Reality Check
I’ve been listening to the left wingnuts crying foul because Crooked Hillary won the popular vote. They evidently fell asleep during their American government class in high school. The reason there are two senators per state and an electoral college is to keep the large powerful states from wielding too much power in governing the nation. It seems left wing nutjobs seem to be drawn together into 6 liberal enclaves. You may notice the professional violent Soros protestors do their best work in these states. Republican voters in these states know their vote is worthless, because there are far too many irrational, mathematically challenged snowflakes to overcome. So, many don’t even bother to vote.
- Monte Paschi Begins Bondholder “Bail-In”: Will Equitize Over €4 Billion In Junior Bonds
Monte Paschi's long anticipated, if largely undesired bail-in is finally a fact. Ever since the bank failed the ECB's latest stress test this summer, when it was advised that it needs to raise billions in capital, only to see the process fizzle with virtually no willing sources of new cash emerging due to the opaque labyrinth of the bank's bilions on NPLs, Italy's third largest, most insolvent, bank has been hoping to avoid a debt conversion, out of fears it may spook retail bondholders across the capital structure, and in other Italian banks, who may perceive the move even if touted as “voluntary” as a creditor bail-in. Which it technically is.
- Why India wiped out 86% of its cash overnight
India is in the middle of an extraordinary economic experiment. On 8 November, Prime Minister Narendra Modi gave only four hours' notice that virtually all the cash in the world's seventh-largest economy would be effectively worthless. The Indian government likes to use the technical term “demonetisation” to describe the move, which makes it sound rather dull. It isn't. This is the economic equivalent of “shock and awe”.
- Anti-Trump Protests: Proof Of Professional Activist Involvement
In a story from November 12, USA Today writes an article to discredit the idea that the professional activist community is involved with organizing anti-Trump protests. They invite you to meet the protesters. USA today presents them as ordinary people. However, WikiLeaks exposes them as experienced protest organizers and activists. USA Today presents the protests as spontaneous, involving people from “all walks of life” – certainly not professional protesters.
- Elizabeth Warren: Democracy Demands That We Work Together on America’s Agenda
Elizabeth Warren sparred with Donald Trump throughout the 2016 election campaign. Now, the senator from Massachusetts is ready to work with the president-elect to rebuild the American economy. But if Republicans attempt to remove Wall Street regulations or gut the Consumer Financial Protection Bureau, she will fight them. Warren shared her thoughts in a speech to the AFL-CIO executive council in Washington, D.C., on Thursday.
- Iran Nears Pre-Sanction Levels, Starts Pumping Oil At 3 New Fields
Three new oilfields in Iran were put in production mode this weekend at an official ceremony, adding more than 220,000 bpd to the country’s total output. The fields are Yadavaran, North Azadegan, and North Yaran—three of the five fields that Iran shares with Iraq. The launch of North Yaran was reported last week, with initial production seen at 30,000 bpd. North Azadegan will yield 75,000 bpd, and Yadavaran should produce 115,000 bpd. At the ceremony, President Hassan Rouhani was quoted as saying that “Oil production west of Karoun must reach one million barrels per day. This is a realistic goal, and we need investment and technology.”
- Iran Surprises OPEC With A Further 250,000 Bpd Increase
President of Iran, Hassan Rouhani, was poised to announce on Sunday that the nation has increased oil production by 250,000 barrels per day. This was accomplished through the creation of three new fields west of the Karoun River. The addition in production was highly unexpected, especially to neighboring OPEC nations. As of this past Wednesday, Brent crude oil futures have dropped a substantial amount to under $44 per barrel. Three publicly traded companies on three separate exchanges have paid as much as $3 billion to obtain these fields. Sinopec from China has acquired the largest, producing 115,000 barrels per day. China’s National Petroleum Corporation bought the second largest field and the third was given to Persia Oil and Gas Development of Iran. All three of these companies stand to profit from these fields. Iran is in the process of ramping up production to reach their prior unsanctioned levels, which would place the oil majors in a crucial position to grow.
- Iran seeks $10 bln in Russian arms
Iran is moving ahead with plans to purchase advanced Russian weaponry now that UN sanctions have been lifted even as Republican president-elect Donald Trump vows to revisit and/or scrap the nuclear deal between the Obama Administration and Tehran. Viktor Ozerov, the Russian Federation Council’s defense and security committee, who is on a visit to Tehran, said on Monday that Iran wants to buy $10 billion worth of weapons including T90 tanks, the most advanced in Russia’s arsenal. Russia has completed the delivery of S-300 air defense systems to Iran in October and these are expected to be ready for deployment by year’s end, Ozerov said. But any weapons that can be used for offensive purposes, such as the T-90s, must be approved by the UN Security Council until 2020.
- Trump just laid out a pretty radical student debt plan
Donald Trump is promising the most liberal student loan repayment plan since the inception of the federal financial aid program, in a clear effort to court the millions of Americans struggling with the high cost of college. “We would cap repayment for an affordable portion of the borrower’s income, 12.5 percent, we’d cap it. That gives you a lot to play with and a lot to do,” Trump said at a rally in Columbus, Ohio, on Thursday. “And if borrowers work hard and make their full payments for 15 years, we’ll let them get on with their lives. They just go ahead and they get on with their lives.”
- Commentary: The unbearable smugness of the press
The mood in the Washington press corps is bleak, and deservedly so.
It shouldn’t come as a surprise to anyone that, with a few exceptions, we were all tacitly or explicitly # WithHer, which has led to a certain anguish in the face of Donald Trump’s victory. More than that and more importantly, we also missed the story, after having spent months mocking the people who had a better sense of what was going on.
- China plays critical role in climate change cooperation – official
China is expected to play a pivotal role in consolidating and enhancing South-South partnership, particularly when it comes to issues related to climate change. Speaking to the Chinese news agency Xinhua, Moroccan Foreign Minister and Climate Change Conference (COP22) President Salaheddine Mezouar said that China has an “extremely important role to play in accompanying, reinforcing and boosting South-South partnership and support sustainable development policies in the African continent”. China is currently participating in the 22nd Conference of Parties to the United Nations Framework Convention on Climate Change (COP22) held in Marrakech, Morocco.
- Trump Will Become Third President to Forego a Salary. Here's What the Other Two Did With Theirs…
Trump Will Become Third President to Forego a Salary. Here's What the Other Two Did With Theirs… From the start of his campaign, Trump has pledged that he'd put aside his business activities completely if elected, telling CBS's “Face The Nation” last October that he’s been “phasing out” his role since the beginning of his campaign.
- Federal Reserve & Clintons Doomed-Clif High
Internet data mining expert Clif High predicted that “Trump would win” the election and that Hillary Clinton would go “missing” after the election. Sure enough, Hillary was missing the night of her defeat. What does that mean? High thinks, “That there was a breakdown among a very delicate relationship among a lot of powerful parties that failed to deliver as promised. The plan didn’t work. So, now there is no real plan “B.” There never could be under the circumstances. We are in a situation where there can’t be a plan “B” for the Federal Reserve, for example. They (FED) have to go on a certain path, they’re doomed. That is true of the criminal organization we call CGI (Clinton Global Initiative). Any criminal gang, no matter where it is in the social order, progresses along a certain path, runs into opposition and dies. It always happens, and it always will.”
- As Obama buries US-led TPP, focus shifts to China-backed trade deal
The China-proposed Free Trade Area of the Asia Pacific (FTAAP) will be in focus during the upcoming Asia-Pacific Economic Cooperation (APEC) summit in Peru from Nov. 19-20 even as the US officially gives up on a rival trade deal, the TPP. Heads of states including Chinese President Xi Jinping, Russian President Vladimir Putin and US President Barack Obama will be in attendance at the APEC Summit. In Peru, Obama will explain to other TPP nations the reasons for the US government’s failure and the suspensions of its efforts to win congressional approval for the deal. US President-elect Trump has called the TPP a “disaster” and “a rape of our country”.
- When People Laughed At The Idea Of Trump Actually Being Elected President!
Never underestimate the power of the silent majority. Those who kept silent during this campaign had the strongest voices.
- Soros And Liberal Mega-Donors Plot For War With Donald Trump
George Soros and other liberal mega-donors are gathering in Washington for a three-day, closed-door meeting where they will discuss opposing Trump’s plan for his first 100 days in office. According to Politico, the meeting, which began on Sunday night at Washington’s Mandarin Oriental hotel, is sponsored by the influential Democracy Alliance donor club and will include darlings of the left such as House Democratic leader Nancy Pelosi, Senator Elizabeth Warren and Congressional Progressive Caucus co-chairman Keith Ellison.
- 58 Facts About the U.S. Economy from 2015 that are Almost too Crazy to Believe
This year the middle class continued to deteriorate, more Americans than ever found themselves living in poverty, and the debt bubble that we are living in expanded to absolutely ridiculous proportions. Toward the end of the year, a new global financial crisis erupted, and it threatens to completely spiral out of control as we enter 2016. Over the past six months, I have been repeatedly stressing to my readers that so many of the exact same patterns that immediately preceded the financial crisis of 2008 are happening once again, and trillions of dollars of stock market wealth has already been wiped out globally. Some of the largest economies on the entire planet such as Brazil and Canada have already plunged into deep recessions, and just about every leading indicator that you can think of is screaming that the U.S. is heading into one. So don’t be fooled by all the happy talk coming from Barack Obama and the mainstream media. When you look at the cold, hard numbers, they tell a completely different story. The following are 58 facts about the U.S. economy from 2015 that are almost too crazy to believe…
- EU chief SQUIRMS over questions of legitimacy of ‘undemocratic’ European Commission
THIS is the astonishing moment an EU chief was left squirming as he was questioned on whether the European Commission is truly democratic – when it is made up of unelected representatives. The awkward scenes happened during a citizens dialogue in Helsinki, Finland, when Frans Timmermans, the First-Vice President of the Commission, was challenged over the legitimacy of the institution. Taking the EU representative to task, a Finnish citizen demanded to know why Jyrki Katainen had been allowed to become the country's commissioner after he resigned as prime minister for “failing” in the leading role.
- The sneering response to Trump’s victory reveals exactly why he won
If you want to know why Trump won, just look at the response to his winning. The lofty contempt for ‘low information’ Americans. The barely concealed disgust for the rednecks and cretins of ‘flyover’ America who are apparently racist and misogynistic and homophobic. The haughty sneering at the vulgar, moneyed American political system and how it has allowed a wealthy candidate to poison the little people’s mushy, malleable minds. The suggestion that American women, more than 40 per cent of whom are thought to have voted for Trump, suffer from internalised misogyny: that is, they don’t know their own minds, the poor dears. The hysterical, borderline apocalyptic claims that the world is now infernally screwed because ‘our candidate’, the good, pure person, didn’t get in.
- Canadian Parliament Condemns Free Speech
On October 26, Canada's parliament unanimously passed an anti-Islamophobia motion, which was the result of a petition initiated by Samer Majzoub, president of the Canadian Muslim Forum. The petition garnered almost 70,000 signatures.
- Donald Trump could still not become president because of ‘faithless electors’ and the electoral college
It’s still theoretically possible for Donald Trump not to become president. But the near-impossibility all depends on the electoral college and the strange US system. Donald Trump might have won the election by getting more of the votes in the electoral college than Hillary Clinton did. But strictly and legally, it’s not the election that just happened that matters: it’s the one where the members of the electoral college go and represent their voters and pick their candidate. That’s due to happen on 12 December, at meetings in each state where all Republican or Democrat representatives – depending on how each state voted – will cast their vote. And it will almost certainly go one way, with most of the electors casting their ballots for Donald Trump and making him President.
- Did America Really Pass The Test? – Hillary Clinton Is Going To Win The Popular Vote By A Wide Margin
The 2016 election was a test, and it would be easy to assume that since Donald Trump won the election that America passed the test. Unfortunately, it may not be that simple. A closer look at the numbers reveals a very sobering reality. Yes, Donald Trump won far more electoral votes than Hillary Clinton did, and that means that he is on track to become our next president. But Hillary Clinton is going to win the popular vote, and it is likely to be by a very wide margin once all the votes are counted.
- No Matter What Happens, We Won’t Know Who The Next President Will Be Until December 19th
Most Americans assume that their votes decide who the next president will be, but that is actually not the case. It is the Electoral College that will elect the next president, and they don’t meet until December 19th. And the truth is that all of the members of the Electoral College never meet in one place. Rather, electors gather together in all 50 state capitals on the second Wednesday in December, and it is at that time that the next president and vice president are officially elected. Of course members of the Electoral College have voted according to the will of the people about 99 percent of the time throughout our history, but with how crazy this election has turned out to be you never know what might happen. For example, later on in this article you will see that one elector in Washington state has already publicly stated that he will not cast his vote for Hillary Clinton. If other “faithless electors” emerge, that could potentially change the entire outcome of the election.
- For People Who Are Worried About Druckenmiller Selling His Gold…
For people who are worried about Druckenmiller selling his gold… Before we get to Druckenmiller selling his gold, look at the collapse in the 30-year bond market as interest rates continue to surge! I am going to stick with yesterday’s format and try to make sense of the market motion, then turn to the action lower in the column, and I’m doing this in response to all the questions I’ve been getting about how various markets can possibly do what they’re doing, i.e., why are they behaving as they are…
- Druckenmiller: “I Sold All My Gold On The Night Of The Election”
Just six months ago, Stanley Druckenmiller saw nothing but pain for the economy: in a presentation to the Sohn Conference in early May, the legendary Duquesne manager delivered what may have been his most bearish fire and brimstone sermon yet, and in fact according to some buysiders who were present, its somber mood and lack of faux optimism was downright apocalyptic. Druckenmiller said that while the Fed and policymakers have no endgame, markets do – hinting that one is rapidly approaching – and suggested that everyone should liquidate their equity holdings and buy a certain 5000 year old shiny asset, which as we reported previously, is Druckenmiller's “largest currency allocation.”
- Toward A New World Order?
A Brave New World is coming? Perhaps. We had a recent discussion with a group of people in the hopeless business of doing long term forecasting. This made us think about what the world will look like over the next 20 to 40 years. A pretty thankless task, but the bottom line is without a damn good war, Asia will be the way of the future. As an experiment, assume, as most long term forecasters do, that both Europe and the US have reached a mature plateau where growth will average around 1.5 to 2 per cent over the long term, while China will slowly decelerate from the current 6.5 to 3 per cent and India from today`s 7 to around 4. In this scenario (which we do not necessarily believe in, as China is up for en epic crash) what will be the share of global GDP by, say, 2060? And what are the geopolitical implications?
- China ‘Devalues' Yuan To Weakest Since Breaking The Peg In 2010
With offshore Yuan tumbling in recent days – echoing the collapse in US Treasury bond prices – the spread to the onshore fix appears to have forced the PBOC's hand. With a 200 pip cut in the CNY fix tonight, China has all but erased any strength in the Renminbi against the USD since it broke the peg (“enabled more flexibility”) in June 2010. Given the wakness in the Reniminbi basket, one could argue that the Yuan could be sold against the USD considerably more to catch down to the pressure that other major basket currencies have been under…
- What Does Trump’s Victory Mean For Energy Policy?
Real estate mogul Donald Trump has won the presidential election, and that likely means the Obama administration’s global warming agenda will be massively scaled back or scrapped altogether. Trump, a Republican, has promised to cut the EPA, scrap the Paris climate treaty and rollback rules holding back U.S. energy production. “Just look at what Trump has promised,” a source close to Trump’s transition team told The Daily Caller News Foundation.
- Blame the Shrinking Toblerone on the Expanding Money Supply
The confectionery corporation Mondelez International Inc. has announced it will be downsizing its beloved Swiss chocolate bar Toblerone due to the high cost of ingredients. The Illinois-based company, said in a Facebook post: “We carry these costs for as long as possible, but to ensure Toblerone remains on-shelf, is affordable and retains the triangular shape, we have had to reduce the weight of just two of our bars in the U.K.” Adjusting the size and weight of their products is a common practice for manufactures of food and beverages. It’s called “shrinkflation” and works as a cost cutting maneuver. In adjusting the Toblerone, the manufactures reduced its iconic row of triangular shaped pieces, expanding the gaps between each.
- Marshall Swing Returns: Read My Lips…THE GLOBAL ECONOMIC COLLAPSE IS COMING
Well, today is Election Day morning and everybody is wondering what happens in the U.S. Presidential Election and also what happens to gold and silver. People will be holding their breath until polls close in East Coast and Central time zones as most elections are decided and called shortly afterwards. I have not written an article in about 1 year and with good reason. There really has not been that much interesting, to me, going on with gold and silver. It is the same old stuff over and over again, wash, rinse, and repeat. Can you spell M – A – N – I – P – U – L – A – T – I – O – N ?
- Will Obamacare morph into Trumpcare?
The buzz following the US elections is all about what to expect from the Trump presidency. At first, there was uncertainty over what, precisely, did he promise to do, but when he released his ‘Contract With the American Voter’ (described in this week’s news) the uncertainty shifted to what Trump will be able to do, considering the fact that almost all of it must be initiated and funded by Congress.
- Peter Schiff Calls “Hidden Vote” for Trump Before Election Results
In an interview with RT News Tuesday night just as the election was getting started, Peter Schiff showed, once again, his acumen and insight for reading economic and political situations correctly. After Larry King asked if the election’s comparison to Brexit was appropriate, Peter accurately described the simmering voter angst at the economy and predicted the existence of a “hidden vote” for Trump that would soon prove to have eluded pollsters.
- No, the Electoral College won’t make Clinton president instead of Trump
Donald Trump won Tuesday’s presidential election. But many liberals and progressives have begun clinging to one faint hope that he could still be stopped — through the Electoral College. Tuesday’s vote was technically not to make Trump president, but only to determine who the 538 electors in various states across the country will be. It is those electors who will cast the votes that legally elect the president on December 19.
- All About Blockchain And Why It's A Bigger Deal Than Bitcoin
Banks have made the exchange of currency their business. But the digital age has ushered in a new way of banking, disrupting the institutions that have controlled the industry for hundreds of years. It’s the internet of banking, developed by private citizens for private citizens. While innovation in the industry is most commonly linked to Bitcoin, a cryptocurrency, it’s the underlying technology, blockchain, that might produce the biggest waves. “Blockchain presents an opportunity to bring disparate things together and allow secure, nonrefutable records of transactions to be done anywhere you need them to be done — quickly, securely and with little chance of fraud,” said Andrew Dare, architect of financial services innovation at Hewlett-Packard Enterprise in Halifax, U.K. “Therein lies the true value of the technology.”
- The Chilling Thing Hertz Just Said about the US Auto Boom
Hertz Global Holdings, the giant rental car company which also owns Dollar and Thrifty, got crushed on Tuesday, as is so often the case, by an otherwise boring accounting entry. Depreciation of its cars had to be adjusted. Depreciation of the rental fleet is a huge expense in the industry: for Hertz, 29% of its total expenses. Depreciation is supposed to bring the value of these cars down to what they can be sold for when they’re scratched and dented and have 37,000 miles on them. Depreciating the fleet just a little less aggressively would boost earnings for a little while and is a very tempting strategy. But a few quarters later, when the cars have to be sold, reality comes home to roost.
- What the Heck’s going on with Foreclosures? Why this Spike?
The total number of homes with foreclosure filings jumped 27% in October from September, when they’d been at the lowest level since 2006. It was the biggest jump in monthly foreclosure filings since August 2007. Compared to October last year, homes with foreclosure filings still decreased, but this nationwide decrease is covering up what is now happening in 28 states and Washington D.C., according to the Foreclosure Report by ATTOM Data Solutions. There, the inventory of homes with foreclosure filings is beginning to rise even on a year-over year basis.
- Former U.S. Treasury Secretary Just Warned Trump Could Be Assassinated
Today former U.S. Treasury Secretary just warned that Trump could be assassinated. (King World News) Former U.S. Treasury Secretary Dr. Paul Craig Roberts: The US presidential election is historic, because the American people were able to defeat the oligarchs. Hillary Clinton, an agent for the Oligarchy, was defeated despite the vicious media campaign against Donald Trump. This shows that the media and the political establishments of the political parties no longer have credibility with the American people…
- Wow… The Country Is Totally Not Prepared For This…
If you’ve ever been REALLY bored, and wanted entertainment rather than anything even loosely resembling news, you may have stumbled upon cable “news” outlet MSNBC. If so, then it normally takes all of about 5 seconds to determine that the pundits and alleged “news” anchors MUST permanently resided in an alternate universe or dimension. Why? Because that's the only remotely plausible explanation for some of the stories they report as news on that channel, HOWEVER, in the article and videos below, you’re about to see proof that they’ve returned to our realm, even if just temporarily.
- Consumer Credit Increases By $19.3 Billion
The Federal Reserve's consumer credit report for September 2016 shows a 6.3% annualized monthly increase in consumer credit, and 7.0% for the entire third quarter. Revolving credit increased 5.2% for the month as well as Q3,. Non-revolving credit increased 7.4% for September and 7.6% for Q3. Consumer credit matters due to personal consumption being the driving force in economic growth.
- Do You Believe In Miracles?
We have never seen anything like this in the history of American politics. Donald Trump’s shocking victory on election night is nothing short of a modern day miracle. Several weeks ago I told my readers that it would take the biggest political miracle ever in order for Trump to win, and I had been strongly urging them to vote, but even early on election night I was skeptical that Trump could actually pull it off. Initially the results coming out of Florida, North Carolina and Ohio looked rather ominous, and a lot of Trump supporters were freaking out. But those initial numbers strongly reflected early voting results, and those results typically favor Democrats. Once the Election Day numbers started rolling in, it was clear that there was a massive unanticipated wave of momentum for Trump.
- The defeat of Hillary Clinton just dealt a devastating blow to Monsanto, Big Pharma and the corrupt vaccine industry
The ignorant people voting for Hillary Clinton two days ago had no idea what they were really voting for. That's by design, of course: They are kept deliberately dumbed-down by the complicit media which packed their brains full of anti-facts and twisted mush. While Clinton supporters mistakenly believed Hillary supported women, children, immigrants and humanity, in the real world Hillary Clinton was an obedient pawn of the most evil, genocidal corporate entities on the planet.
- This Trump Economic Advisor Wants America to Go Back to the Gold Standard
Donald Trump is no policy wonk. He is pitching himself as the best man for the presidency based on his track record as businessman, and his ability to surround himself with the “best” people—not on his knack for writing white papers. This, of course, means that it is important for voters to understand whom he is surrounding himself with, and what sort of ideas they hold.
- Trump releases seven-point health care reform plan . . . and it's excellent
A lot more than just getting rid of the lines. I mentioned on Facebook yesterday that I am not that big a fan of election years, and here's a case in point. At this moment, #NeverTrump is all the rage among conservatives, and there's a tremendous push to get Republican primary voters united behind one remaining Trump rival to take the nomination away from him. My job is to write what I think about whatever happens on a given day. It's not to only write what I think will result in a certain outcome. So when I tell you that Donald Trump's new seven-point health care reform plan is excellent, some of you are going to say: Don't say that now! It'll help Trump! # NeverTrump!!!
- Kremlin: Hillary Clinton victory would have CAUSED World War 3 between Russia and USA
DONALD Trump's shock victory in the US presidential election prevented World War 3 erupting between the USA and Russia, a Kremlin official has claimed. The senior Moscow diplomat, who advises Vladimir Putin, said a Hillary Clinton presidency would have plunged the world into a diplomatic crisis. But a former British foreign secretary has warned Mr Trump against cosying up to the Russian strongman, saying the Kremlin was “unafraid to use aggression and intervention to shore up its influence”.
- Surging Bond Yields Signalling Pain Not Growth Ahead For US Economy
The US election results are in and the US stock market is enjoying a sharp rally over the shock news of Donald Trump winning the election and becoming the new President elect. On the back of the big rally in US stocks there has also been another big shift occurring in another very important asset class, US Government bonds.
- Here Is What Donald Trump Wants To Do In His First 100 Days
At the end of October, Donald Trump spoke in Gettysburg, Pa., and released a plan for his first 100 days in office. The plan (below) outlines three main areas of focus: cleaning up Washington, including by imposing term limits on Congress; protecting American workers; and restoring rule of law. He also laid out his plan for working with Congress to introduce 10 pieces of legislation that would repeal Obamacare, fund the construction of a wall at the Southern border (with a provision that Mexico would reimburse the U.S.), encourage infrastructure investment, rebuild military bases, promote school choice and more.
- Over $1 Trillion In Bond Losses In Days: Second Worst Week Ever
Six months after we warned about the massive loss potential resulting from a spike in bond yields, one month after Ray Dalio did exactly the same, when he warned the NY Fed that “it would only take a 100 basis point rise in Treasury bond yields to trigger the worst price decline in bonds since the 1981 bond market crash”, and one day after we documented that MTM losses from surging bond yields had surpassed a third of a trillion, the tally is now three times greater, with total MTM losses soaring to $1 trillion just two days after the presidential election. As Bloomberg calculates, more than $1 trillion was wiped off the value of bonds around the world this week on concerns Trump’s policies will unleash a debt tsunami, and are seen boosting spending and quickening inflation. They are also expected to lead to much more QE as there will be trillions in government budget deficits that need to be funded.
- The Trans-Pacific Partnership is dead, Schumer tells labor leaders
The Senate’s soon-to-be top Democrat told labor leaders Thursday that the Trans-Pacific Partnership, the trade deal at the center of President Obama’s “pivot” to strengthen ties with key Asian allies, will not be ratified by Congress. That remark from Sen. Charles E. Schumer (D-N.Y.), who is expected to be the incoming Senate minority leader, came as good news to the AFL-CIO Executive Council, which met Thursday in Washington. Schumer relayed statements that Republican congressional leaders had made to him, according to an aide who confirmed the remarks.
- Banning Fracking In The U.S. Would Kill 14.8 Million Jobs, Study Says
A ban on hydraulic fracturing would kill 14.8 million jobs and cost the average American family $4,000 dollars, according to a new report by the U.S. Chamber of Commerce. Were environmentalists to successfully ban fracking next year, 3.9 million jobs would evaporate in 2017, rising to 14.8 million jobs lost by 2022, according to the report. Gasoline prices would almost double as would electricity prices. U.S. household incomes would fall by $873 billion.
- Trump Not Seeking Full Repeal Of Dodd-Frank; Opposes Bank Bailout Provision
One of the bigger surprises to emerge from the initial attempts by the Trump transition team to frame the president-elect's policy yesterday, was what was dubbed at full repeal of Dodd-Frank, a move which has been seen by some as surprisingly pro-banker friendly.
- And Then They Came For the Big Rigs
No one appears to have noticed this yet. But they will. Not on the road – or at the car dealership. At the supermarket. For openers. Uncle is “proposing” a “program” (the soft-sell language hides the reality of regulations issued by an unelected bureaucracy – EPA – which will be extremely mandatory) in order to “Reduce Greenhouse Gas Emissions and Improve Fuel Efficiency (their exact language, in the EPA’s pretentious Federal All Caps Style) of “Medium, and Heavy Duty Vehicles.”
- Edward Snowden Addresses The US Election Result In Public Webcast
Edward Snowden, courtesy of RT, is delivering a public address on the US election result from Russia where he is a “temporary resident”, and taking questions via social media on privacy concerns, his pardon and other issues of public concern. A campaign has been launched to secure Snowden a presidential pardon before Obama leaves office in January 2017. Questions can be submitted to the whistleblower by using the hashtag # StartPageSnowden.
- Zhuhai Air Show draws in over $40 bln
The 11th China International Aviation & Aerospace Exhibition in Zhuhai, in south China’s Guangdong Province, closed on Sunday with a total of 402 deals worth over $40 billion, organizers said. The six-day exhibition attracted more than 700 exhibitors from 42 countries, and showcased mainly Chinese defense equipment including the J-20 stealth fighter. Although it debuted at the airshow, the J-20 will not be fully operational until 2018, the Chinese air force says. Commercial Aircraft Corporation of China (COMAC) sold almost 100 aircraft, a mix of commercial and fighter jets, during the event.
- To fight graft, India withdraws large bills
In a surprise move, India will withdraw the 500 and 1,000 rupee notes from circulation effective midnight Tuesday official sources said in New Delhi. The measure came following an announcement from Indian Prime Minister Narendra Modi who said it was an essential move to tackle graft in the country and crack down on unknown sources of income. “To break the grip of corruption and black [unaccounted for] money, we have decided that the 500 and 1,000 rupee currency notes presently in use will no longer be legal tender from midnight ie 8 November, 2016,” Modi said in a speech which was special televised on national TV.
- CIVIL WAR: Violent rallies sweep America as protesters BURN US flag after Trump victory
THOUSANDS of seething protestors have descended upon cities across America following the momentous election of Donald Trump as the US President. iolent rallies have taken place in New York, Chicago, Austin, Boston, Philadelphia, Washington, San Francisco, Los Angeles and Dallas to express their anger against the billionaire businessman which have continued long into the early hours of Thursday morning. Hordes of demonstrators rushed to Trump Tower in Manhattan screaming “not my President”, “New York hates Trump”, “we reject the President-elect” and “f*** the wall”.
- Russian banks hit by cyber-attack
Five Russian banks have been under intermittent cyber-attack for two days, said the country's banking regulator. The state-owned Sberbank was one target of the prolonged attacks, it said. Hackers sought to overwhelm the websites of the banks by deluging them with data in what is known as a Distributed Denial of Service (DDoS) attack. Security firm Kaspersky said the attacks were among the largest it had seen aimed at Russian banks.
- The defeated left turns to HATE: Liberals unleash beatings, death threats and calls for mass murder of Trump supporters
Now that the voters have wholly rejected the retarded, delusional leftist vision for America — which we might as well just call “liberal suicide” — the real character of the left is on full display. Today, angry liberals are turning to extreme violence and hatred, calling for the killing of Trump supporters, the assassination of Trump and the bloody beatings of all whites. Yes, the racism, violence, bigotry and HATE of the left has finally come out of the closet. I saw this coming, of course, long ago. If you're a regular Natural News reader, you may recall my August 30th article entitled Chaos will erupt across America in less than 100 days… no matter who wins the election. Now, like clockwork, it's all coming true exactly as I foresaw.
- George H.W. Bush on Trump: I ‘wish him well'
Former President George H.W. Bush joined his son on Wednesday in congratulating Donald Trump on his White House win. POLITICO reported in September that the elder Bush planned to support Hillary Clinton for president, according to Kathleen Hartington Kennedy Townsend, a former Maryland lieutenant governor and daughter of the late Robert F. Kennedy. It's unclear, however, whether he actually did so.
- Progressives Find ‘White Trash’ More Threatening Than Nuclear War — Paul Craig Roberts
The American electorate’s preference for Donald Trump and Bernie Sanders has established two facts. One is that the majority of the American people do not believe the media presstitutes. The other is that only the “progressives” and “liberals” who inhabit the Atlantic Northeast and Pacific West coasts believe the presstitutes. Trump’s election to the presidency has confirmed these holier-than-thou souls in their strongly held belief that America is a white trash racist country. They have told us this all day long today. From these people and from the presstitutes we hear that white supremacy elected Trump. This is their propaganda, the intention of which is to discredit a Trump administration before it is inaugurated. Funny how white supremacy elected black Obama twice previously.
- Rudy Giuliani Addresses Hillary Pardon – “President Obama Should Leave It To The System”
Rudy Giuliani, the man that many believe Trump will tap for Attorney General, walked a very fine line this morning in responding to a question about whether or not the Obama administration should pardon Hillary Clinton for her numerous alleged crimes. While noting the obvious intricacies around potentially prosecuted a former political foe, Giuliani noted that “there are deep and disturbing issues there” and that “President Obama should leave it to the system that we all believe in to determine, is she innocent or is she guilty.”
- Reverse Speech analysis of Hillary Clinton concession speech
Ok guys, Hill's concession speech reversals have now been posted on David Oates Reverse Speech Youtube Channel. A bit under 3 mins. She refers twice to a media type battle coming up. And, we can all probably easily guess what that's gonna be about.
- This is How Consumers Turn into Debt Slaves
Consumer debt rose by $19.3 billion in September to $3.71 trillion, another record in a five-year series of records, the Federal Reserve’s Board of Governors reported on Monday. Consumer debt is up 6% from a year ago, at a time when wages are barely creeping up and when consumer spending rose only 2.4% over the same period. This follows the elegant principle of borrowing ever more to produce smaller and smaller gains in spending and economic growth. Which is a highly sustainable economic model with enormous future potential, according to the Fed.
- Obama's “Excellent” Conversation With Trump Is Over: “If You Succeed, The Country Succeeds”
Probably the most awkward meeting ever is now over as President Obama says that he had an “excellent conversation” with President-Elect Trump. The meeting which Trump had scheduled for 10 minutes, lasted an hour-and-a-half and concluded with Obama telling reporters that “if Trump succeeds, the country succeeds.”
- President Trump: This Is How To Bring Back 1 Million Energy Jobs
There’s work to be done. And I know you’re up for a challenge. In fact, I’m now sure of it. So let me lay out a policy position that I am truly hoping you will adopt as your own. I’m talking about natural gas as a transportation fuel: cheap, clean, abundant natural gas. And I’m talking about U.S. energy independence, balanced budgets, jobs, trade and the environment. We use natural gas for power generation and as a heating fuel but that’s an old story for a new reality. Fracking has unlocked a phenomenal amount of gas in the last decade. Our onshore wells are rivaling the reserves of the deep offshore giants. And we’re getting much more for much less these days. North America also has over 2 ½ million miles of pipeline with more coming on line plus distribution capabilities in every urban center in America and Canada. All that’s missing is an appetite for it.
- Trump Reveals Policy Goals: “Building That Wall”, End “War On Coal”, Repeal Obamacare, Dismantle Dodd-Frank
On his transition website GreatAgain.gov, the Trump team has laid out the framework of his initial policies with policies focused i) on American Security including as Defense and National security, Immigration Reform and Building That Wall, and Energy Independence; ii) Getting America Back to Work Again including Tax Reform; Regulatory Reform; Trade Reform; Education; Transportation & Infrastructure and Financial Services Reform; and iii) Government for the people including Healthcare Reform (Obamacare), Veterans Administration Reform and Protecting Americans' Constitutional Rights.
- Angela Merkel Warns Russia May Interfere In German Election Next
It appears it's not just the US voting system that has been allegedly penetrated by Vladimir Putin (at least if Trump is winning). German Chancellor Angela Merkel said on Tuesday that Russia could try to influence Germany's general elections next year through cyber attacks or disinformation campaigns, following similar accusations by Washington, which also accused the Kremlin of meddling in the US vote. Germans are scheduled to go to the polls in September 2017. Merkel has yet to announce her candidacy but is widely expected to run for a fourth term.
- The Working Class Won The Election — Paul Craig Roberts
The US presidential election is historic, because the American people were able to defeat the oligarchs. Hillary Clinton, an agent for the Oligarchy, was defeated despite the vicious media campaign against Donald Trump. This shows that the media and the political establishments of the political parties no longer have credibility with the American people. It remains to be seen whether Trump can select and appoint a government that will serve him and his goals to restore American jobs and to establish friendly and respectful relations with Russia, China, Syria, and Iran.
- Oil Prices Stable After Initial Shock To Trump’s Election Win
Having plunged immediately after Donald Trump won the U.S. presidential vote, oil prices shook off the shock from the surprise election victory, almost pared losses, and were even trying to look up in early trade on Thursday. As of 7:11 AM (EST), West Texas Intermediate Crude traded down 0.57 percent at US$45.01, while Brent Crude was inching up 0.11 percent to trade at US$46.41. On election day, by 11:30 PM (EST), WTI Crude had slumped to US$43.72 a barrel—down a hefty 2.80 percent—as the pollsters and statisticians crunched the numbers and called first Florida, then North Carolina and Ohio for Trump, making the path for a Clinton nearly insurmountable.
- President Obama is Considering Rerouting the Dakota Access Pipeline
Amidst ongoing controversy over the Dakota Access Pipeline, President Obama has finally spoken out, saying that his administration is looking for a way to “reroute” the pipeline to avoid affecting sacred tribal lands at Standing Rock Indian Reservation. Obama mentioned the strategy during an interview with Now This, saying, “My view is that there is a way for us to accommodate sacred lands of Native Americans. And I think that right now the Army Corps is examining whether there are ways to reroute this pipeline.”
- Keiser Report: Winners & Losers (US Election Day special E991)
In this special US Election Day episode of the Keiser Report from New York City, Max and Stacy report from outside the Javits Center, where Hillary Clinton took the stage at the event that she and most pollsters and media thought would celebrate her victory. What went wrong? Former North Carolina Democratic Party Chairman Randy Voller tells Keiser Report that Hillary failed to bring in the working class vote. Author and former banker Mitch Feierstein suggests it was her alleged corruption. And credit analyst and Trump supporter Chris Whalen says that, in the end, Hillary just didn’t have the message that resonated with voters and it was Trump who had momentum and message.
- UK Quietly Deploys Warship To Guard Oil Shipping Off Yemen
The UK has deployed its most advanced warship to guard commercial shipments through a narrow strait off the Yemeni coast, through which most of Britain’s oil and gas supply travels, The Times reported on Wednesday. The deployment of the HMS Daring ship has not yet been made public due to the sensitive nature of having a British warship linked to the conflict in Yemen, the UK’s newspaper noted. According to The Times, HMS Daring was on its way to join a mission in the Gulf, but was redeployed to the Bab al-Mandeb Strait, the waterway of global trade between the Mediterranean, the Suez Canal and the Indian Ocean.
- This is What Happened to the “Trump Crash”
Overnight there were whiffs of financial mayhem. Wednesday morning in Tokyo, when it started sinking in that Trump was winning, speculators dumped stocks, and the Nikkei ended the day down 5.4%. The Asia Dow was down 3%. Then in the US, Dow futures plunged 750 points, over 4%. Nasdaq 100 futures plunged 4.5%. Futures for the CBOE Volatility Index – the “fear index” – jumped 40%. The Mexican peso plunged 11% to a record low of 20.3 pesos to the dollar at one point, its worst drop since the Tequila Crisis of 1994. Stocks in Europe were down, gold jumped, oil plunged. And America woke up to this scenario. Short sellers were licking their chops. This was the scenario they’d prepared for. Serious money could be made in this so predictable crash.
- The Navy can't fire its awesome new gun because the rounds cost nearly $1 million each
The US Navy can't fire its awesome new gun that can hit a target more than 70 miles away because the rounds are costing the service nearly a million bucks a piece. Just a couple weeks after the Navy commissioned its most advanced warship, the USS Zumwalt (DDG-1000), the service says it won't be buying any more of the guided precision munitions the ship's Advanced Gun Systems uses, called the Long Range Land-Attack Projectile (LRLAP).
- Stocks Could Crater If They Fall Below This Important Trend Line
From Dana Lyons: Some junctures are more significant than others in the markets. Coming into last week, it didn’t immediately occur to us that we were on the verge of such an important juncture across asset classes. However, the fact that our Trendline Wednesday feature on Twitter and StockTwits included an unprecedentedly large number of assets and indices suggests that we are indeed at a significant juncture.
- Edelson: Oil Will Plunge To $26 Per Barrel Next Year
Analyst Larry Edelson explains his bearish case on crude oil, which includes a huge downside forecast for next year. Hopefully you heeded my warning about why the OPEC agreement was doomed to fail, leading to a sharp decline in crude oil prices. Crude oil is down 14% from the October 19 high, OPEC is scrambling for unity and all the talking heads and newswires are touting how an OPEC deal might not happen. I hate to say I told you so, but… Plunging crude oil prices and a severe loss in credibility has OPEC playing defense and concocting a new strategy. It’s becoming increasingly important for Russia, Saudi Arabia, Iran and Iraq to sharpen their pencils and hash out a “deal” at the November 30 OPEC meeting. And still, that may not be enough to maintain relevance and engineer higher crude oil prices.
- China’s Improving Economic Data Signals Big Growth Ahead
A wave of positive economic data suggests the Chinese economy is stabilizing and that business confidence is improving. The country’s purchasing managers’ index (PMI), which measures the health of its manufacturing industry, rose to 51.2 in October, handily beating economists’ estimates of 50.3. Expanding at its fastest pace since July 2014, the industry was stimulated by a strong rebound in new orders and higher commodity prices. Output rose to an incredible five-and-a-half-year high. And with backlogs of work beginning to pile up, manufacturers trimmed employees at the slowest pace in 17 months.
- There will never be a Sound Currency System
As the gold market takes a break in its journey to much higher levels, it is good to step back a bit and understand why gold has appreciated so dramatically in the last 100 years and why this will continue for many years to come. Most people have no idea what money is. They believe that if they have 100 dollars or euros, that this represents real value as well as durability. Few people realise that their currency which they call money has nothing to do with real money at all. All paper currencies are ephemeral and return to their intrinsic value of zero. This is because reckless governments cling on to power by printing or borrowing endless amounts of fiat money in the hope that they will placate the people and buy votes. Fiat money as the name indicates, can never be real money. It is issued by edict and is not backed by anything but debt and liabilities. Power corrupts and money corrupts. It is a lethal combination which not only destroys people but also nations. And sadly, we have now reached a point in history when the unlimited amounts of fiat money that have been created will also destroy continents.
- Central Banks Have Broadcast What is About to Hit…
The biggest problem for the financial markets is not stocks nor is it the economy. It’s the Bond Bubble. Globally the bond bubble is now over $199 trillion in size. The world taken as a whole is sporting a Debt to GDP ratio of over 250%. This is a systemic issue.
- CNN Makes False Claim About Firearm Death Rates And Uses Bogus Data From George Soros Backed Small Arms Survey
CNN makes the completely false claim that the US has “one of the world’s highest rates of death by firearms.” Note most countries don’t report their firearm homicide rates, and there are many other problems that make the US’s rate look worse compared to other countries (please see here, that also provides links to data sources). Admittedly the CNN claim is based on total firearm deaths and most of those are suicides in the US, but the firearm homicide rates are so massive in other parts of the world that they swamp firearm suicides in the US. (If you use murders (not homicides that include justifiable homicides), suicides account for about 70% of firearm deaths in the US.)
- Donald Trump’s foreign policy ideas aren’t as crazy as they seem
After crisscrossing the country making his urgent last claims to the White House, Donald Trump has made it. But there is still nothing in his appearance or demeanour to suggest a president-in-waiting – at least not a president the United States has elected in recent times. His shortcomings as President-elect appear particularly glaring on foreign policy, where – so it would seem – his priorities can be summed up on the back of an envelope: bring Mr Putin in, keep the Mexicans out and make other countries pay a proper price for US protection.
- Impeachment Process Starts On French President Hollande For Disclosing Classified Information To Journalists
French president François Hollande whose approval rating is a scant 4% now faces impeachment for disclosing classified information to journalists. Given national elections take place in 2017 and given socialists would be unlikely to convict him, one has to wonder “why bother?”, yet here we go: French Right Calls for François Hollande’s Impeachment.
- Donald Trump to discuss smooth transition with Barack Obama
Donald Trump will head to the White House on Thursday to discuss with Barack Obama the transition of power. Mr Trump was elected the 45th president by defeating Hillary Clinton in one of the most divisive elections in modern US history. Speaking to reporters, Democrat Mr Obama admitted he and Republican Mr Trump have some “pretty significant differences” but “the presidency is bigger than any of us” as he vowed to ensure the transition was smooth and successful.
- US military successfully tests electrical brain stimulation to enhance staff skills
US military scientists have used electrical brain stimulators to enhance mental skills of staff, in research that aims to boost the performance of air crews, drone operators and others in the armed forces’ most demanding roles. The successful tests of the devices pave the way for servicemen and women to be wired up at critical times of duty, so that electrical pulses can be beamed into their brains to improve their effectiveness in high pressure situations. The brain stimulation kits use five electrodes to send weak electric currents through the skull and into specific parts of the cortex. Previous studies have found evidence that by helping neurons to fire, these minor brain zaps can boost cognitive ability.
- Carl Icahn Bought $1 Billion In Stocks During “Trump Crash”
As we explained first thing this morning, the market's correct reaction upon learning of the Trump presidency, was not to dump equities “limit down”, but rather to buy every risk asset in sight, now that Trump is preparing to unleash the inflation monster, something the market realized later in the trading day, leading to the biggest one-day percentage move on record in bond yields, and stock market surge that has led to a 1,000+ rebound in the Dow Jones to all time highs. However, not everyone was dumping. While the Dennis Gartmans of the world were liquidating their portfolios at lowest print of the year, warning of “fully engaged bear markets”, Trump's close confidante and person speculated to be Trump's Treasury Secretary, Carl Icahn was waving it in.
- Wikileaks: Rahm Emanuel used personal email accounts
Chicago Mayor Rahm Emanuel used personal email accounts and a personal email domain to communicate with government officials and political figures, according to a published report based on hacked emails posted by WikiLeaks. Emanuel's personal account information turned up among the thousands of emails from John Podesta, Democratic presidential candidate Hillary Clinton's campaign chairman, the Chicago Tribune reported. Clinton has come under fire for her use of a private email system because doing so potentially jeopardized classified information.
- GM Slashes 2000 Jobs, Suspends 3rd Shift On Bloated Inventories, Slowing Sales
Who could have seen this coming? Just weeks after Ford idled four factories due to slumping sales and excess inventory, GM just followed by slashing 2000 jobs permanently and suspending a third shift at production facilities in early 2017.
- Diving Into The Medical CPI: Are Your Medical Expenses Up Only 5% From Year Ago?
On November 1, I posted a couple of charts from Variant Perception that shows medical price inflation plus rent inflation is up nearly 9% from a year ago. Let’s review those charts, then take a look at a series of charts from the St. Louis Fed data repository on medical expenses alone.
- Trump Victory Crashes Chinese Yuan To Record Low
After a brief few hours of rallying overnight as early indications tilted towards Clinton, the moment Florida was called for Trump, China's offshore Yuan started to crash. Just hours later it has dropped 5 big figures to a record lows of over 6.82/$ despite China's officials preferring him. The selling panic started as Trump took the blead in Florida and several other battleground states… Which is a new record low for the offshore currency…
- China Is Suddenly Dumping Treasuries
While we admit that “suddenly” is not exactly the right word to describe China's selling of US Treasurys, which has been steadily liquidating its UST reserves over the past two years, something changed today, when in a violent move starting around the time of the Trump election was guaranteed after midnight, the offshore Yuan, the CNH, has been a one way street of non-stop selling, indicative however, of much more than just the relative strength of the dollar. In fact, as the chart below shows, the selling in the Yuan appears to be closely correlated to today's unprecedented liquidation in US Treasurys…
- President Obama Explains Why It's All Hillary's (And Putin's) Fault – Live Feed
Having exclaimed for months on the campaign trail that he’d consider Donald Trump’s election a personal repudiation, President Obama is face with the harsh reality that it was him that was “peddling fiction” while ‘rome' burned. We suspect the blame-mongering will begin very quickly as former Obama senior adviser Dan Pfeiffer tweeted last night: “The most shocking part of tonight is the number of people who approve of Obama but didn't vote for Hillary Clinton.” The question is – will Obama move to Canada.
- Obamacare Melts Down
When Obamacare was first passed, Vice President Joe Biden famously said it was a “big f—ing deal.” Now, though, there's a surprising level of bipartisan agreement that it's a big honking disaster. There had been many warning signs, but last week it became official: Obamacare premiums are going up next year by an average of 22 percent. And bear in mind this is an average. Our colleague Mary Katharine Ham wrote an eye-popping column at the Federalist about how her own Obamacare premiums are increasing by 96 percent in the coming year.
- Five Reasons You Should Blame The Economics Discipline For Today's Problems
We are experiencing deep economic problems and it is the fault of the economics discipline. Their macro theories suck. But, there is no mechanism forcing it to alter its models when they don’t appear to work. This is so because economists basically write for each other in a language only they understand and their jobs depend on impressing a limited number of journal editors and referees, not correcting real-world problems. The academic inbreeding that has resulted has led to dysfunctional theories and, despite the fact that there were economists who accurately forecast the Financial Crisis, because their work is incompatible with what is published in “good” journals it has been all but ignored. Economics is broken and there is no internal incentive to fix it.
- Multi-Billionaire Hugo Salinas Price – ‘I Have Serious Doubts About The Survival Of Our Civilization’
As the world awaits the outcome of the election in the United States, some time ago multi-billionaire Hugo Salinas Price told King World News in stunning fashion what he believes to be the frightening plan to control the world going forward. He described the people planning this as “barbarians,” and said, “this is not going to end well.” He also issued this ominous warning, “I have very serious doubts about the survival of our civilization under such people.” Below is what the multi-billionaire had to say in this incredibly powerful interview. These People Are “Barbarians”. Hugo Salinas Price: “With regards to the social question in the world, in 1929 a Spanish thinker by the name of Ortega y Gasset wrote a book that really shook up the world titled, ‘The Revolt of the Masses.’ He was talking about the appearance on the world stage of new individuals. He was writing about the growth of the population and the appearance of new individuals coming in to the mass of humanity. And these individuals evidently are (what he described as) ‘barbarians.’….
- Bitter Irony: San Francisco, Los Angeles, San Jose have the Worst Roads in America, Worse even than Detroit
That the streets are in terrible shape in San Francisco is clear when I step out of the house, look at the pavement I need to cross, and think: “I should have put on my hiking boots.” To its credit, the city has been repaving streets in sections of a few blocks here and there. Those repaved sections look civilized, until you get to the next intersection. But now we know, sort of officially: the streets in San Francisco are in the worst condition of any major urban area. Even compared to smaller cities, only Concord, also in the Bay Area, outshines it.
- Greenspan Predicts Bond Yields Rising As High As 5%
While the world has learned to take Alan Greenspan's forecasts with a grain of salt, earlier today the former Fed chairman was on Bloomberg TV with another bombastic prediction, warning of a substantial surge in US long-term interest rates should “inflation take hold.” In the interview, Greenspan said that “if the early stages of inflation, which are now developing, would take hold, you could get — fairly soon — a fairly major shift away from these extraordinarily low yields on 10-year notes, for example,” Greenspan said in an interview on Bloomberg Television on Monday. “I think up in the area of 3 to 4, or 5 percent, eventually. That’s what it’s been historically.”
- Student, Auto Loans Hit New All Time High Of $2.5 Trillion As Consumer Credit Jumps By $19 Billion
The Fed's latest consumer credit report revealed that in September, overall household credit rose by a greater than expected $19.3 billion, above the $18 billion expected, if below last month's near-record $26.8 billion. There were no major surprises in the components of overall credit, with revolving, credit-card debt rising by $4.2 billion, in line with the increase observed in recent months. The ongoing increase in revolving debt, means the total amount of credit card debt outstanding has nearly caught up with the $1.02 trillion peak reached during the credit bubble.
From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a special summary of articles shared this week from just before the election to its aftermath. However, as election fever was gripping the USA there were other things going on around the world that you may have missed. Please review the following articles. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.
Latest News From November 4, 2016 to November 9, 2016:
- President-elect Donald Trump’s cataclysmic, history-making upset
What Donald Trump has done is nothing short of cataclysmic. He has fundamentally reshaped the political map. He has broken the Republican Party into pieces — and its shards still remain scattered everywhere. He has proven that the political polling and punditry industries need a deep re-examination. But, even more than all that, Trump's victory reveals that many of the assumptions that people have long made about who we are as a country and what we want out of our politicians, our political system and each other are, frankly, wrong.
- After Trump’s victory, the world is left to wonder: What happened to America?
Allies recoiled. Adversaries rejoiced. And on the day after U.S. voters made Donald Trump the country’s 45th president, the world was left to collectively wonder: What happened to America? The question hung in the air even as once-unthinkable congratulatory messages poured into Trump Tower from capitals across the globe. Foreign leaders who had spent months disparaging the Republican nominee as unfit for office were forced to reckon with the reality that he will soon govern the world’s sole superpower. U.S. foes who may have only dreamed of a Trump presidency seemed to scarcely believe their good fortune.
- Donald Trump shocks world, wins presidential election in biggest upset in political history
Donald Trump overcame all odds Wednesday, riding the wave of an unprecedented populist movement to put himself in line to be the 45th president of the United States. The Republican presidential nominee secured the 270 electoral votes needed to win the White House. In doing so, he completed the biggest upset in modern political history, beating his Democratic challenger, former Secretary of State Hillary Clinton, as well as one of the most promising fields of Republican candidates in a generation.
- European markets actually had a great day despite Trump's shock victory
Stocks across Europe closed deep in positive territory on Wednesday, rallying back from an initial crash as the shock of the fact that Donald Trump is the next president of the United States. All of Europe's biggest bourses were significantly down soon after the European open, crashing lower thanks to the uncertainty that a Trump presidency brings to the markets. Trump and his economic positions are seen as far less predictable than those of Hillary Clinton, and do not always follow party orthodoxy. As such he is perceived as more of a political risk than Clinton, causing the huge reactions in the markets overnight, which have continued into European trade.
- Regardless of How America Votes, Americans Want a Different Foreign
I have said throughout this presidential campaign that it doesn't matter much which candidate wins. Both Donald Trump and Hillary Clinton are authoritarians and neither can be expected to roll back the leviathan state that destroys our civil liberties at home while destroying our economy and security with endless wars overseas. Candidates do not matter all that much, despite what the media would have us believe. Ideas do matter, however. And regardless of which of these candidates is elected, the battle of ideas now becomes critical. The day after the election is our time to really focus our efforts on making the case for a peaceful foreign policy and the prosperity it will bring. While we may not have much to cheer in Tuesday's successful candidate, we have learned a good deal about the state of the nation from the campaigns. From the surprising success of the insurgent Bernie Sanders to a Donald Trump campaign that broke all the mainstream Republican Party rules – and may have broken the Republican Party itself – what we now understand more clearly than ever is that the American people are fed up with politics as usual. And more importantly they are fed up with the same tired old policies.
- Gold price retreats after initial surge on US election result
The price of gold fell back from the sharp gains made earlier on Wednesday, after a conciliatory victory speech from U.S. president-elect Donald Trump also helped the dollar rebound. Gold had surged by nearly 5 percent to a six-week high of $1,337.40 an ounce as it emerged that the Republican nominee had triumphed over Democrat Hillary Clinton in the presidential election, a surprise for markets which prompted investors to seek refuge in perceived safe-haven assets like gold.
- Putin Congratulates Trump on Victory in US Presidential Election – Kremlin
Russian President Vladimir Putin congratulated Donald Trump on his victory in the US presidential election, voicing hope that joint work will resolve the crisis in bilateral ties, the Kremlin said Wednesday. According to Kremlin, President Putin sent a telegram to Donald Trump, congratulating him on his victory in the US presidential election and wishing him success in taking on the serious task of being head of state.
- Donald Trump wins the presidency, hails ‘beautiful and important' win
Donald John Trump will be the 45th president of the United States, capping a historic and boisterous run by an outsider who captured a loyal following across a swath of America fed up with establishment politics, the news media and elected officials. His success was only part of a larger, crushing victory for the Republican Party, which retained the House and maintained control of the Senate.
- Trump win upsets global markets
Global stocks suffered a sudden and sharp reversal of fortune early Wednesday as Republican candidate Donald Trump looked increasingly likely to become the 45th president of the United States. By the time he was declared the winner at 07:45 GMT, the Dow Jones industrial plummeted 827 points, the S&P 500 was down 107 points, and the Nasdaq 100 lost 241 points. A frenzied selloff at the New York Stock Exchange picked up pace as Democratic candidate Hillary Clinton lost key battleground states, leading to a five per cent drop in value of US stocks. This triggered an automatic circuit breaker halt on trading.
- Trump Wins 2016 Presidential Election & Saves America
This is my take on the big Trump win that saves the country and the rule of law in America. We are going to get a market selloff, but at least we will only have to deal with economic problems created by the criminal crony class and not the additional full blown tyranny of a Clinton Administration. The financial markets will be in turmoil, and the fantasy economy is about to meet reality. Savor the Trump win, but be prepared for a lot of work and financial pain. Join Greg Hunter for his take on the coming Trump Presidency and what it means for the winners and losers of the 2016 election. There are big winners and very big losers. I always say “Fear Not, God the Father is in charge,” and he proved it tonight.
- AS IT HAPPENED: Donald Trump wins the White House and markets go haywire
Donald Trump has been elected the 45th president of the United States. Trump’s win came as a shock to investors and sent markets into a tailspin through the night on Tuesday and into the pre-dawn hours of Wednesday. The market’s nadir came at 11:55 p.m. ET, when the S&P 500 went limit-down after a 5% decline, meaning trading below this level would be halted until Wednesday morning. Near 2:30 a.m. ET, when the Associated Press called the election for Trump, Dow futures were down about 520 points and S&P 500 futures were off 3.4%.
- Clinton Concedes: Donald Trump Becomes 45th U.S. President
And NBC News reports that Hillary is said to have conceded on phone with Trump. CNN's Dana Bash is also reporting that Hillary Clinton has called Donald Trump to concede the race, matching the earlier report from NBC News.
- Donald Trump Is Elected President in Stunning Repudiation of the Establishment
Donald John Trump was elected the 45th president of the United States on Tuesday in a stunning culmination of an explosive, populist and polarizing campaign that took relentless aim at the institutions and long-held ideals of American democracy. The surprise outcome, defying late polls that showed Hillary Clinton with a modest but persistent edge, threatened convulsions throughout the country and the world, where skeptics had watched with alarm as Mr. Trump’s unvarnished overtures to disillusioned voters took hold. The triumph for Mr. Trump, 70, a real estate developer-turned-reality television star with no government experience, was a powerful rejection of the establishment forces that had assembled against him, from the world of business to government, and the consensus they had forged on everything from trade to immigration.
- Live Presidential Forecast
Donald J. Trump has won the presidency. Below, our estimates of three key indicators. he projections for each state are based on the votes reported so far and how those places have voted in previous elections. We’re showing the closest states by default.
- NATO Places 300,000 Troops On “High Alert” In Readiness For Confrontation With Russia
NATO a preparing a military force of up to 300,000 personnel, capable of being deployed within just two months to attack Russia. As the world remains fixated on the outcome of Tuesday’s US elections, NATO continues its aggressive troop build up around Russia. With each passing day, the constant NATO activity is looking more and more like a preparation for full scale conflict with Russia. Something that would become a very real possibility should Hillary Clinton make it to the White House.
- The Greatest Wealth Transfer In History Nears As ‘Deep State’ Now Pulling Out All The Stops
On election day, today John Embry told King World News that the greatest wealth transfer in history nears as the ‘Deep State’ is now pulling out all the stops. ‘Deep State’ Desperation. John Embry: “Eric, mercifully election day in the U.S. has finally arrived to put an end to the ugly spectacle which has been billed as the presidential campaign. The capper came on Monday, when in response to the FBI ending its investigation of Hillary Clintons email transgressions, the Dow magically rallied back to 18,200, a level which had been defended for months by the powers that be…
- This is “Unusual Outside a Recession Period”: New York Fed Grapples with Weak Demand
The dollar has strengthened against other currencies since mid-2014 as the Fed was tapering QE Infinity out of existence, and as it began flip-flopping about rate increases. Dollar strength should have done two things in terms of international trade: Weaken exports as US goods would become less competitive for buyers using other currencies; Strengthen imports as imported goods would be cheaper compared to US-made goods. The first has happened. But the second has not happened: Imports have been in a down-trend since mid-2015.
- Uncertainty and uncertain outcomes bode well for gold
A lot of us were looking forward to today, it signals the last day of election-mania and we might all be able to get on with our lives, whatever that means under whoever wins. The problem is, today might not be the last day of uncertainty. Trump has already said that he will keep us in suspense as to whether or not he will accept a Clinton win, this has been followed by many cries of ‘rigged’ from both Trump and his cohort. The other factor is that the election might be so close that it is too close to call and we see another Bush-Gore debacle. Should there be an unclear winner tomorrow, or if Trump wins, then what will this mean for gold?
- As The World Awaits The U.S. Election Outcome, Buckle Up For Some Rough Times
As the world awaits the outcome of the election in the United States, buckle up for some rough times. James Turk: “Everybody who I speak with here in London, Eric, asks me about the US election. I’ve never seen anything like the amount of interest it has sparked. Without any doubt the election has grabbed the attention of people from around the world…
- ALERT: Former Soros Associate Just Warned This Is Going To Send The World Into Total Chaos
As investors await the outcome of tomorrow’s election, a former associate of George Soros just warned King World News about what is going “to send the world into total chaos.” Victor Sperandeo manages over $3 billion, has been in the business 45 years, and has worked with famous individuals such as Leon Cooperman and George Soros. Below is what Sperandeo had to say. Victor Sperandeo: “The days of low interest rates are over. This is very important for people to understand, Eric. There will be no more lowering of interest rates and QEs…
- Keiser Report: Picking next ‘tin-pot’ for America
We discuss pushing tinfoil and possible election outcomes. Max talks to the people of New York by visiting Times Square and finds not only a divided electorate but a colourful and . . . sometimes angry one. In the second half Max talks to Chris Whalen about his reasons for voting for Trump and whether or not a Clinton 2.0 would actually be a Nixon 2.0.
- Look At What Is Unfolding In China And Other Key Regions Right Now
With stocks surging along with the U.S. dollar and gold and silver getting hit, here is a look at what is unfolding in China and other key regions right now. Here is a portion of what Peter Boockvar wrote today as the world awaits the next round of monetary madness: It IS the best of times, it IS the worst of times, it is the age of wisdom, it is the age of foolishness, it is the epoch of belief, it is the epoch of incredulity, it is the season of light, it is the season of darkness, it is the spring of hope, it is the winter of despair, we have everything before us, we have nothing before us, (I switched the Tale of Two Cities lines from Was to Is and to Have from Had), etc… The former because the most bizarre and embarrassing presidential campaign in our life time is about to end. The latter because someone is going to win…
- What Hath Trump Wrought?
“If I don’t win, this will be the greatest waste of time, money and energy in my lifetime,” says Donald Trump. Herewith, a dissent. Whatever happens Tuesday, Trump has made history and has forever changed American politics. Though a novice in politics, he captured the Party of Lincoln with the largest turnout of primary voters ever, and he has inflicted wounds on the nation’s ruling class from which it may not soon recover. Bush I and II, Mitt Romney, the neocons and the GOP commentariat all denounced Trump as morally and temperamentally unfit. Yet, seven of eight Republicans are voting for Trump, and he drew the largest and most enthusiastic crowds of any GOP nominee.
- This is Going to End Badly, Buy Gold Now
Most assets by traditional valuations are overpriced. Now are they overpriced compared to zero interest rates or negative interest rates? If you take the 10-year German bonds or the 10-year Swiss bonds or the 10-year Japanese bonds, you have no or negative yield. But you can buy equities that give you a dividend yield of 2 percent or more. Then you say stocks compared to negative interest rates are a bargain. But they are not cheap by traditional valuation methods. However, I think it’s dangerous for someone to say: “We all agree that it will end badly, so we keep 100 percent of our money in cash.” First, you have to decide which cash.
- Paranoia Deepens in US as Cyber-attacks Prepare Post-Election Tumult
Paranoia makes whole populations manipulable. Over time, crisis after crisis, it builds globalism and creates cultural homogenization. Just today, WikiLeaks claimed it had been hit with a Distributed Denial of Service (DDoS) attack, supposedly to prevent it from distributing additional information that would prove negative to the Clinton camp. This is part of a much larger paranoiac atmosphere. Paranoia is running rampant in US federal elections. We recognize the paranoia because we’ve covered the trends that cause it for years.
- The Destiny Of The World
With continued uncertainty in global markets, 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 the destiny of the world. Egon von Greyerz: “Eric, the destiny of the world economy is not going to be determined by what happens to Brexit or the U.S. election. Of course the election can be a catalyst but it won’t be the reason for what will happen next.
- Will The Globalists Allow Trump to Win The Selection – Financial Survival Network
Jeff is interviewed by Kerry Lutz for the Financial Survival Network. Topics include: Hillary Clinton owned by the elite, Brexit shows that the elite are starting to lose control, people wanting change, Trump an insider, if elected nothing much will change, may be allowed to win, doesn’t really matter who wins, Clinton on her last legs but Trump highly energetic, an entertaining election, media manipulation, the G7 and Bilderberg, election 2017!
- Feeling The Oil Crunch: Saudi Arabia Cancels $266 Billion In Projects
Saudi Arabia’s governing economic body called the Council of Economic and Development Affairs (CEDA) has cancelled $266.7 billion in projects, the Saudi Press Agency said, and announced it would be settling much-delayed private-sector payments by year end. The projects that have been canceled are the ones that are not expected to accelerate the kingdom’s growth or improve the living standards for its people. The cancellations were first considered in September, but at the time, it was noted that only $20 billion in projects would be considered to put on the chopping block. The size of the delayed payments—mainly due to severe hits to the kingdom’s oil revenue—remains undisclosed, but it includes delayed payments to construction firms, medical establishments, and foreign consultants. One analyst, according to Reuters, estimated that the amount still owing just to construction firms was US$21 billion. The 2016 budget deficit will not be known until late December, when Saudi Arabia announces its 2017 budget plan.
- Pope Francis is at it Again
As if there are not enough sufficient reasons for right thinking individuals to want a Donald Trump Presidency, one of the biggest is that it would be a direct and quite necessary rebuke and humiliation of the purported head of the Catholic Church, Pope Francis. Bergoglio has once again injected his neo-Marxist self into areas where he has no right to interfere. Of course, this has never stopped this cretin from doing so before, especially when it comes to liberalistic causes such as climate change. Whatever happened to popes that preached the Gospel, spoke of the saints, or expounded on doctrine? In a speech given at the Vatican on November 5, Bergoglio spoke of not giving into those politicians who talk of building walls, but those who work to build bridges. He condemned “physical and social walls” that “close in some and exclude others” and added: “mercy is the best antidote against fear” while it “is much more effective than walls, than barbed wire fences, than alarms and arms, and it is free. It is a gift of God.”
- America’s Ruling Elite Has Failed and Deserves to Be Fired
America’s Ruling Elite is freaking out because a significant percentage of the American public is trying to fire them. The Ruling Elite has failed and deserves to be fired, and deep down, they know it–and this awareness of their self-serving failure fuels their panic and their loathing of the non-elite Americans who are trying to fire them. If you think this chart of soaring student loan debt is a sign of “success,” you are 1) delusional 2) protected from the dire consequences of this failure 3) getting your paycheck from this failed system. That in a nutshell is the state of the nation: those who are protected from the consequences of failure are loyal to the Establishment, as are the millions drawing a paycheck from systems they know are irredeemable failures.
- WARNING: Don’t Worry If the Stock Market Goes Crazy After Election
In the hours after the president is elected, equity investors need to brace for volatility. What they shouldn’t do is panic. That’s because regardless of how prices react on Nov. 9, next-day moves in the S&P 500 Index are useless in telling what comes after. While the index swings an average 1.5 percent the day after the vote, gains or losses over the first 24 hours predict the market’s direction 12 months later less than half the time.
- The cost of this Congressional seat increased 23.5x in 6 years.
What do you think have been the best performing assets over the past several years? Perhaps it’s Facebook stock, whose price is up 3.2x since it debuted in 2012. Or maybe Apple, whose stock has soared 4x since 2010. But neither of those companies’ stock performances holds a candle to Colorado’s sixth Congressional district. Back in 2010 when incumbent Rep. Mike Coffman handily won the race, total election spending that year, including funds from PACs and other outside groups, totaled $758,926. Fast-forward six years, and Colorado’s 6th district is now fetching $17,866,308 in total election spending. That’s a 23.5x increase in just six years, putting Apple’s stock performance to shame.
- Stock Market Volatility, Gold and the Election
Before this Monday, the S&P 500 Index went down nine days in a row. While this was almost unprecedented (or in any case, a very rare event) the decline was quite small overall. The timing of the pullback and the subsequent strong rebound on Monday suggests that Mr. Comey’s letters to Congress regarding the FBI investigation into official emails by Hillary Clinton – which have found their way unto a computer owned by Anthony Weiner (the former husband of Clinton’s right-hand woman Huma Abedin) – were the “trigger” for these moves.
- We're In An Asset Bubble With Good Chances Of Popping: Structured Finance Consultant Janet Tavakoli
Artificially low interest rates push investors into stocks in a precarious bubble. No large banks engaged in derivatives have a good grasp of their risk. Post-financial crisis changes are cosmetic, financial system not safer. Wall Street has bought Washington. Why bank managers in scandals are ever punished. Captured, compliant zombies won’t challenge gross misrepresentations of economic facts.
- For Deutsche Bank, This Is The “Brexit Panic” Signal In Today's Election
While pre-election polls overhwhelmingly give Hillary Clinton the advantage ahead of tonight's result, with Reuters reporting “Clinton has 90 percent chance of winning: Reuters/Ipsos States of the Nation”, many banks and brokers – still hurting from the Brexit calamity – aren't taking chances. Some of the more prominent industry names, such as Morgan Stanley, JPMorgan and Goldman Sachs are bracing for potential tumult on financial markets after Tuesday's U.S. election should Trump win. As the outcome of the most bitterly fought U.S. presidential elections starts to roll out by Wednesday in Asia, the regional markets will be the first to trade on the results. Reuters writes that as a result, Asia-focused banks HSBC and Japan's Nomura Holdings Ltd are among institutions boosting staff levels, while others are raising the margin requirements for trading to cope with a possible spike in volume or volatility.
- Major Money Managers Are Hedging Against a Trump Presidency
From Tyler Durden: Major bankers around the world are prepping for the potential fallout from a Donald Trump presidency, despite Hillary Clinton seemingly firmly ahead in the polls. While pre-election polls overwhelmingly give Hillary Clinton the advantage ahead of tonight’s result, with Reuters reporting “Clinton has 90 percent chance of winning: Reuters/Ipsos States of the Nation“, many banks and brokers – still hurting from the Brexit calamity – aren’t taking chances. Some of the more prominent industry names, such as Morgan Stanley, JPMorgan and Goldman Sachs are bracing for potential tumult on financial markets after Tuesday’s U.S. election should Trump win.
- Collapse: Elite Planning An Engineered Reset?
Jeff Berwick joins SD to discuss the coming economic collapse. Berwick believes TPTB realize the system cannot survive and are going to engineer a collapse. He says governments around the world, international organizations, and billionaires realize the writing is on the wall & are preparing for the coming crisis…
- Private Militia Groups Actively Preparing For Fraudulent Hillary Win
Tomorrow is the day that could forever change the trajectory of this country, and there is certainly no shortage of people who have theories on how the day will end, or who will emerge victorious. With less than 36 hours until the polls close, one thing is certain: Anyone who planned on being prepared for the potential of massive civil unrest, had better have done so already. In the following video, I am joined by a very special guest, Ronnie McMullen, who has made it his life’s work trying to counter the negative side effects of what one of Hillary Clinton’s largest supports is producing. Ronnie joins me to discuss what how several possible election scenarios could play out, and what each could mean for the future and the health of the country.
- Julian Assange Issues Statement On The US Election
In recent months, WikiLeaks and I personally have come under enormous pressure to stop publishing what the Clinton campaign says about itself to itself. That pressure has come from the campaign’s allies, including the Obama administration, and from liberals who are anxious about who will be elected US President. On the eve of the election, it is important to restate why we have published what we have.
- This Election Marks the Beginning of Volatility
Volatility is high going into this election (because nobody knows what will happen, and there is a lot at stake). People think that after the election, the uncertainty will be out of the way, and volatility will subside. Will it? Here are the ways this election could go wrong. Let’s think about this a little bit.
- Bill Holter and Jim Sinclair on the Looming Global Economic Collapse
Recently, Greg Hunter was fortunate enough to be interviewed by legendary investors Jim Sinclair and Bill Holter from JSMineset.com. During the first portion of the interview, Bill and Jim ask Greg Hunter from USA Watchdog a series of questions in an attempt to get his opinion on the state of “journalism” as a whole, or what some would more properly refer to as “propaganda” if it’s coming from the mainstream media. Jim and Bill also do their best to get a read on what many of the other guests have predicted about the economy over the last few months when they've had the chance to visit with Greg on USA Watchdog.
- Voting Machine “Irregularities” Reported in Utah, Tennessee, Pennsylvania, & North Carolina
Who could have seen this coming? People in numerous states reported problems voting Tuesday due to faulty machines, according to numerous news sources. Pennsylvanians told CBS News their vote for Trump was changed to Clinton…
- Early Voting Results In Key Battleground States Appear To Favor Donald Trump
If you want Donald Trump to win the election, then you have got to be encouraged by what you are seeing so far. Early voting has already been going on in a number of the most important battleground states, and up to this point the numbers seem to support the theory that Donald Trump is doing significantly better in key swing states than Mitt Romney did in 2012. As you will see below, the latest numbers released by Florida, North Carolina, Colorado and Arizona all have good news for the Trump campaign. Without a doubt, I still have an ominous feeling about what is going to happen tomorrow night, but so far at least there are some encouraging signs.
- Your Complete Guide To Election Day And Night: What To Watch For And When
It's almost over: the most divisive, theatrical, dramatic and dirty presidential campaign will be in the history books in just a few hours, with more than 130 million Americans expected to cast ballots across 50 states. However, just winning the popular vote will be insufficient: indeed, it may well be that the popular-vote winner does not win the electoral college. So which states should one be looking at, and how long is the final day's drama set to continue? For the benefit of the traders out there, last week we showed a primer from Citigroup explaining when traders can hope to go home on election evening, according to which it was “all about Florida, North Carolina and Ohio.”
- Hillary Clinton Is Spirit Cooking The US
I heard the term “spirit cooking” for the first time a few days ago. At first I assumed it was some form of culinary style that was done in a spiritual way. Boy was I wrong. Reports on the internet are actually referring to a meal involving “blood, sperm and breastmilk.” The term was mentioned in an invitation to John Podesta, chairman of the Clinton campaign. Podesta didn’t go to the dinner involved, apparently, but the term and its ingredients made considerable news on the internet. As I thought about the term more and more it seemed to be an appropriate fit for the Clinton campaign. This became especially clear in the news earlier today when the FBI managed to “review” 650,000 emails in nine days (after taking a year to review 33,000 previous ones) and they also determined that none of them would have an impact on their July decision to clear Hillary Clinton of “leaking” classified documents.
- Europe's New Blasphemy Courts
Europe is currently seeing the reintroduction of blasphemy laws through both the front and back doors. In Britain, the gymnast Louis Smith has just been suspended for two months by British Gymnastics. This 27-year old sportsman's career has been put on hold, and potentially ruined, not because of anything to do with athletics but because of something to do with Islam. Last month a video emerged online of the four-time Olympic medal-winner and a friend getting up to drunken antics after a wedding. The video — taken on Smith's phone in the early hours of the morning — showed a friend taking a rug off a wall and doing an imitation of Islamic prayer rituals. When the video from Smith's phone ended up in the hands of a newspaper, there was an immediate investigation, press castigation and public humiliation for the young athlete. Smith — who is himself of mixed race — was forced to parade on daytime television in Britain and deny that he is a racist, bigot or xenophobe. Notoriously liberal figures from the UK media queued up to berate him for getting drunk or for even thinking of taking part in any mockery of religion. This in a country in which Monty Python's Life of Brian is regularly voted the nation's favourite comic movie.
- Nigel Farage forced to admit that the EU referendum was only ‘advisory'
Nigel Farage was forced to admit the referendum on leaving the EU was only “advisory” after he clashed live on TV with the lead claimant in a legal challenge to the Government on the issue. The Ukip leader and Gina Miller, whose efforts led the High Court to rule against Theresa May’s right to trigger Article 50 without consulting Parliament, both appeared on the Andrew Marr Show on Sunday morning. After the pair had both been interviewed separately, Mr Farage challenged Ms Miller saying: “I just want to ask her – what part of the word ‘leave' don't you understand?”
- Rigged vote-counting is the Holy Grail of collectivism
The mantra of collectivism is: “The greater good for the greater number.” The idea is that anything can be justified as proper and moral, even deception, theft, denial of rights, and killing innocent people, if it is claimed that these things are done for the good of society or the nation. That is the moral code that allows national leaders to lie about anything and commit horrendous crimes against their own countrymen under the excuse of ‘national security’.
- The Bond Bubble Might Finally Be Bursting
For years, global central banks have pushed back with extraordinary easy-money policies, delivering ultra-low and even negative interest rates worldwide. And for years, financial commentators … including my colleagues Larry Edelson, Mike Larson and myself … have been predicting this will end very badly one day – when the spell of omnipotent central banks is forever broken and investors reject government debt of any kind. Well, 2016 may go down in the financial history books as a real game-changing year: The end of the great bull-market bubble in bonds.
- Stocks Will Likely Crash If Trump Wins
Analyst Chad Shoop explains why the markets will likely sell off considerably if Donald Trump wins next week’s election, and what investors can do to hedge against the pullback. When I want to make sure my 7-year-old son has put thought into a debate we are having, I put money on the table. It doesn’t matter if we are debating whether or not a wide receiver got both feet inbounds, or if my son’s done his chores for the week. He will tell me whatever I want to hear at first — that he made his bed or cleaned up his room. But the second I say, “You owe me $20 if it’s not done,” he will think about it more, or run to his room to check. Putting money on the line makes it real to him.
- Anarchast: The Libertarian Take on the North Dakota Pipeline Dispute with Derrick Broze
Jeff interviews Derrick Broze, topics include: Derrick was at the Dakota access pipeline project protests, the Standing Rock Sioux resistance movement, a collision of cultures, sacred burial sites, stopping the pipeline, water is life, the biggest indigenous solidarity movement in history, the red power movement, property rights, the state is working with the oil companies, the land was never ceded, Iowa farmers also resisting, stateless environmental protection, first hand account of the protests including provocateurs, state violence and police militarization, freedom cells, agorism, spiritual ties to the land, a better life for all.
- Billionaire Fund Manager Expects Stocks to Plummet 80% – But When?
One of the trends TDV watches closely is the inevitable unraveling of markets, especially equity markets. The stock market has been weaponized by disastrously low interest rates and it is only a matter of time before catastrophe occurs. Just a matter of months, weeks, days or hours. We’re not debating the magnitude of the catastrophe anymore, just the timing. Of late, the markets have been looking increasingly shaky. In fact the VIX volatility index is up while many major indices are down.
- The Presidential Cycle
The market has been very readable since before Brexit. It was over bearish and due for a post-Brexit rally check. It was due for a drop to test major support check, but amid last week’s highly broadcast 9 straight down days and the renewed Clinton email scare, it was due for a bounce from over bearish status check. However, this is not the end of the story. We remain on a test of major support unless certain upside resistance parameters are taken out. Beyond this highly volatile phase, we are likely either going to confirm major support and potentially break out to new highs or a bear market will ensue. Figuring prominently in the short-term is the US election. Here is NFTRH 420’s weigh-in on something I almost never want to comment on but did in this week’s report, given Donald Trump’s ‘overbought’ status last week.
- Civil War II – Fourth Turning Intensifying
As we enter the final stretch of this vitriolic, deplorable, venomous, propaganda saturated, deceitful, rigged presidential election spectacle, it becomes painfully obvious this Fourth Turning is careening toward bloodshed, bedlam, confrontation, and civil war. The linear fixated establishment, who fancy themselves intellectually superior to the irredemables, are too blinded by their sociopathic, increasingly audacious subversion of the Constitution, to grasp the level of rage and disillusionment of a white working class that has been screwed over for decades.
- Reforming the Fed: Where the Candidates Stand
With presidential candidates, sometimes it’s tough to cut through the political minutia to find out what they think about important issues. The debates didn’t seem to shine much of a light on topics like the Federal Reserve and interest rates, so here’s a quick look at how Clinton and Trump are leaning when it comes to reforming the Fed.
- Will The Election End America’s Torment?
Enemies of the United States are joyously watching its upcoming elections that are exposing this once great nation as deeply corrupt. It’s as if a huge rock has been turned over, exposing the swarming, slithering underside of America’s political system. For those who admire America, like this writer, this week is a time to weep for the republic. We see two candidates who are utterly unfit for the highest office: Hilary Clinton, engulfed by scandals, and blustering TV mogul Donald Trump, a man of profound shallowness who advocates Islamophobia, torture, and environmental ignorance.
- Clinton Foundation Head Accused Chelsea Of Using Funds For Wedding, Campaigning, And Avoiding Taxes
Doug Band, the former top aid to Bill Clinton who helped found the Clinton Global Initiative, accused Chelsea Clinton of illegal activities by using foundation money to pay for her wedding and getting paid to campaign, all while avoiding paying taxes. After Chelsea had launched an investigation into the foundation’s finances under Band’s control, an angry Doug Band email Hillary Clinton’s campaign chairman John Podesta to complain. Band called Chelsea’s actions, “not smart.”
- Everybody Is Telling Me That Trump Is Going To Win – So Why Do I Have Such An Ominous Feeling?
I hope that I am wrong. On Tuesday night we will find out who our next president will be, and I have a very ominous feeling about what is going to happen. But all around me there are people telling me that Trump is going to win. They tell me to disregard the polls because they cannot be trusted, and that very well may be true. They tell me that new voters and independent voters will overwhelmingly vote for Trump, and they tell me that it is obvious that Trump has more enthusiasm for his campaign because of the size of his rallies. I have even heard some people say that God told them that Donald Trump is going to win the election. Well, we will find out on Tuesday night who was right and who was wrong. Personally, I don’t know what is going to happen, but I am quite skeptical of Trump’s chances and I can’t shake this ominous feeling about what Tuesday night will bring.
- Trump Reportedly Lining Up Septuagenarians Giuliani and Gingrich for Cabinet
If Donald Trump bucks the odds and wins tomorrow’s election, he’s planning to offer cabinet positions to a handful of fiercely loyal surrogates who refused to jump ship during his often messy campaign. Among them are former New York City mayor Rudy Giuliani and onetime Speaker of the House Newt Gingrich, NBC News reports.
- Nevada Penalizes Solar Energy Users With Hefty 40% Tax Increase
An absurd monthly fee imposed on solar customers was just voted in by the Nevada Public Utility Commission (PUC), virtually penalizing net metering (NEM) users of the renewable energy and in a sense, screwing these guys over after making the investment to go solar. Yip-dee-doo! Photo credit: Kristine Lavine, Denver Business Journal. Such is the current state that Nevada is in right now after it turns out that consumers opting with solar energy in the state are eating up on the potential profit that NV Energy should have. And in order for the company to combat this, they were able to coerce lawmakers to make solar energy insanely expensive – in hopes of convincing people to just stay blindly on the grid and stop being so ‘hippy’.
- New Study Highlights Environmental Impacts Of Green Energy
Wind and solar power aren’t as environmentally friendly as green energy activists often claim, according to a new study by scientists at Uppsala University in Sweden. Researchers noted that wind turbines and solar panels are made of non-renewable resources that have to be dug out of the ground. Both solar and wind power use a lot of land and water, leading to habitat destruction. Additionally, hazardous materials like sulfuric acid and toxic phosphine gas factor in heavily in solar panel manufacturing. Modern wind turbines are also highly dependent on rare earth minerals mined primarily from countries with poor environmental records, like China.
- UNSG hails Paris Climate Agreement entry into force
United Nations Secretary-General Ban Ki-Moon as hailed the entry into force of the Paris Climate Agrement and its speedy ratification by 96 countries around the world. “Today we make history in humankind’s efforts to combat climate change,” Ban told a gathering of activists combating climate change at UN Headquarters in New York. He compared the Paris Climate Agreement, which was agreed to in December 2015 as having been done in “record time” when compared to the Kyoto Climate Agreement of 1997, which took eight years to come into force and was largely dismissed even by some of its signatories.
- How Donald Trump Helped the Paris Climate Deal Become Law Ahead of Schedule
The U.N. global climate deal known as the Paris Agreement came into legal force on Friday, nearly a year after dozens of countries agreed to it in marathon negotiations in the French capital. The goal of the accord is to limit global warming to below two degrees Celsius above pre-industrial levels. Many scientists believe that any increase above that mark will cause major disruption to the Earth’s climate. So far, 95 countries have signed the deal. That includes the United States. President Obama made climate change a key item of his agenda, pushing China to join the effort, and signing the Paris Agreement in August. Donald Trump, however, has vowed to withdraw the U.S. from the deal if he is elected President on Tuesday, and has slammed the Paris Agreement on the campaign trail. As far back as 2012—in one of his now-famous tweet-storms—Trump called climate change “bullshit” and a “hoax,” saying that China had fabricated the issue in order to boost their own industries and undermine American competitors.
- ‘The beginning of a new era': World reacts to Paris Agreement coming into force
Green businesses and industry groups have wholeheartedly welcomed the official enforcement of the Paris Agreement, but environmental groups and other experts are now urging governments to go beyond the ambition of the deal in order to avoid catastrophic climate change. The Agreement comes into force today (4 November), with governments agreeing to keep the global temperature rise to 2C above pre-industrial levels – and preferably 1.5 degrees. This is the culmination of the global climate deal agreed in the French capital less than a year ago, which effectively commits countries and businesses to move away from fossil fuels.
- Big Oil Promises $1 Billion In Climate Change Fight
A host of oil supermajors announced on Friday that they would allocate US$1 billion for fighting climate change over the next ten years. The effort, called the Oil and Gas Climate Initiative, involves BP, Shell, Aramco, Total, Eni, Statoil, Repsol, CNPC, Pemex, and Reliance Industries. Among the priorities of the initiative are cutting methane emissions from oil and gas pipeline leaks, and accelerating the development of carbon capture, use and storage technology. The money that the ten companies pledged will be collected in a fund, OGCI Climate Investments, which will partner with businesses from the transport and other energy-intensive industries in a bid to improve energy efficiency in these sectors.
- Paris Climate Change Deal Becomes International Law
The Paris Agreement to combat climate change became international law on Friday — a landmark deal about tackling global warming amid growing fears that the world is becoming hotter even faster than scientists expected. So far, 96 countries, accounting for just over two-thirds of the world's greenhouse gas emissions, have formally joined the accord, which seeks to limit global warming to 2 degrees Celsius (3.6 degrees Fahrenheit). More countries are expected to come aboard in the coming weeks and months. Secretary General Ban-Ki moon commemorated the event, talking with civil society groups at U.N. headquarters in New York to hear their concerns and visions for the future. “Today we make history in humankind's efforts to combat climate change,” Ban said before opening the meeting.
- The Paris climate agreement and why it matters
Almost 200 governments signed an unprecedented agreement last year to phase out fossil fuels in favour of renewable energy in the second half of the century. This agreement, signed in the French capital and seen as a turning point for global climate policy, comes into force on Friday. Al Jazeera explains why the deal matters and what it means for the future.
- The Paris climate change agreement: how will it affect you and your pay packet?
In early October 2016, 55 countries with 55 per cent of the world’s greenhouse gas emissions ratified the Paris climate change agreement. On November 4, it came into force. The main long-term goal is to keep the increase in global average temperature to well below 2°C above pre-industrial levels. But what does meeting the Paris aims look like in the short-term, within our lifetimes?
- The Paris Agreement: Now We Need to Move the Money
At the recent United Nations General Assembly in New York, Secretary General Ban Ki-moon predicted the Paris climate agreement would enter into force before 2017, announcing 60 countries had now ratified its terms. Last week, the International Monetary Fund and World Bank welcomed an influx of finance ministers and central bankers, to its annual meetings in Washington DC. At first glance, these two events might appear totally unrelated. The ratification of the Paris Agreement – a global deal to keep global temperature rise below 2°C – is a huge achievement and a real triumph for multilateralism. It also focuses the mind on the next step: how the Agreement will be implemented across the world?
- Giuliani Rages At FBI Decision “We Are Supposed To Be A Country Of Justice”
Former New York City Mayor Rudy Giuliani appeared on Fox News’ Sean Hannity Show Sunday, to talk about how out of place the Director of the FBI James Comey’s remarks were regarding the Clinton investigation. As Intellihub's Shepard Ambellas reports, Giuliani said that back in July there was already “overwhelming evidence” that Hillary Clinton “violated the law.” ‘Now in November we are hearing that she had her maid print out classified material routinely.’ “So if she was completely reckless back in July, the new revelation makes the situation much worse,’ Giuliani told Hannity.
- Election Prediction 2016: Current Trend Lines Show Trump Will Win in Landslide
So what is going to happen on November 8? On April 2nd of this year we predicted that Ted Cruz would be mathematically eliminated from the Republican race for President on April 27th because on that day he would need more delegates than would be available. We also predicted that on April 27th Donald Trump would accumulate 943 delegates which would put him well on track to win the Republican nomination. April 27th came and Ted Cruz was eliminated and Trump had amassed 944 delegates (which later was updated to 950 delegates). We were spot on!
- Newsweek Calls It: “Madam President Clinton” Hits The Shelves Due To A “Business Decision”
With still over a day to go until the earliest possible result from tomorrow's presidential election, a part of the blogosphere and conservative media was up in arms over a commemorative Newsweek cover depicting “Madam President” which appeared in print as early as Saturday. As Infowars reported, a Twitter user who works at a bookstore tweeted the images with the comment, “I work at a bookstore and we typically get magazines early and lookie what we got here.” and then adds that “her Twitter account was subsequently deleted after reporter Luke Costin chastised her for “fueling Trumpists’ hysteria about “rigged” #Election2016.”
- Can The Oligarchy Still Steal The Presidential Election? — Paul Craig Roberts
The election was set up to be stolen from Trump. That was the purpose of the polls rigged by overweighting Hillary supporters in the samples. After weeks of hearing poll results that Hillary was in the lead, the public would discount a theft claim. Electronic voting makes elections easy to steal, and I have posted explanations by election fraud experts of how it is done. Clearly the Oligarchy does not want Donald Trump in the White House as they are unsure that they could control him, and Hillary is their agent. With the reopening of the FBI investigation of Hillary and related scandals exploding all around her, election theft is not only more risky but also less likely to serve the Oligarchy’s own interests. Image as well as money is part of Oligarchic power. The image of America takes a big hit if the American people elect a president who is currently under felony investigation.
- Can U.S. Elections Really Be Stolen? Yes.
Is election theft possible in the United States? And might the suspects live closer to home than the Kremlin? Professor Mark Crispin Miller, author of numerous books and articles on computerized election fraud, explores the very real possibilities.
- Benghazi guards turned on US diplomats in 2012 attack, sources say
An obscure private firm hired by the State Department over internal objections to protect U.S. diplomats in Benghazi just months before the American ambassador and three others were killed was staffed with hastily recruited locals with terror ties who helped carry out the attack, multiple sources told Fox News. The explosive charge against Wales-based Blue Mountain Group comes from several sources, including an independent security specialist who has implemented training programs at U.S. Consulates around the world, including in Benghazi, where he trained a local militia that preceded Blue Mountain. The source, who spoke on condition of anonymity, said Blue Mountain used local newspaper ads to assemble a team of 20 guards, many of whom had terror ties, after securing a $9.2 million annual contract.
- State Dept. Has up to 31,000 Pages of New Clinton Records from the FBI’s Investigation; Wants Five Years to Process Them
Judicial Watch President Tom Fitton made the following statement regarding developments during today’s court hearing concerning Judicial Watch’s Freedom of Information Act (FOIA) lawsuit seeking emails sent or received by former Secretary of State Hillary Clinton in her official capacity during her tenure as secretary of state: ‘The Obama State Department is doing a political favor for Hillary Clinton for suggesting to a federal court today that Judicial Watch wait as long as five years to see up to 31,000 new Clinton documents found by the FBI. We learned in this lawsuit that the State Department is slow-walking the release of Hillary Clinton’s deleted and hidden emails. Ironically, this Clinton/Obama State Department stonewalling has guaranteed that the Clinton email scandal won’t be resolved for years.' The court has set the next hearing in this case for November 29 to discuss the status of 650,000 emails reportedly found on the computing devices of Huma Abedin and Anthony Weiner.
- Fed Up Friday: FOMC Revisions Likely, Regardless of Election Result
With the election looming, the Fed met all expectations of delaying a rate hike in November. Whether or not a hike happens in December, the benefit to owning gold is that “real” interest rates could stay low or negative regardless of the outcome. Learn about all that and more in this week’s Fed Up Friday.
- I Just Lost All Faith In Our Deeply Corrupt Legal System And In The Rule Of Law In The United States
The FBI just gave Hillary Clinton the biggest gift in the history of presidential politics. Two days before the election the FBI has announced that they are ending their investigation into Hillary Clinton’s mishandling of classified information. After reviewing the emails that were found on electronic devices owned by Huma Abedin and Anthony Weiner, FBI Director James Comey sent a letter to Congress telling them that “we have not changed our conclusions that we expressed in July with respect to Secretary Clinton.” That means that there will be no indictment, and the path is now clear for Hillary Clinton to become the next president of the United States on Tuesday unless an election miracle happens.
- A Digital 9/11 If Trump Wins
There are disturbing signs that a digital 9/11 terror attack is being readied for election day in the US to ensure that Donald Trump does not win. Such an attack – involving widespread internet and power outage – would have nothing to do with Russia or any other foreign state. It would be furnished by agencies of the US Deep State in a classic “false flag” covert manner. But the resulting chaos and “assault on American democracy” will be conveniently blamed on Russia. That presents a double benefit. Russia would be further demonized as a foreign aggressor “justifying” even harsher countermeasures by America and its European allies against Moscow.
- Fact file: BRICS drive the global economy
BRICS nations – Brazil, Russia, India, China and South Africa – account for 43 per cent of the world’s population and 25 per cent of the global economy. Despite a global economic slowdown, BRICS has been a main economic engine for the world economy. Countries such as Brazil and Russia, which struggled with recession in the past two years, are expected to turn the corner and post GDP growth in 2017. Russia’s GDP contracted 1.2 per cent in Q1 2016 but that slowed to 0.6 per cent in Q2, according to data from the Rosstat federal statistics service. This is a marked improvement to its 3.7 per cent contraction in 2015; it contracted 3.8 per cent in Q4 in 2015.
- She’s guilty and she knows it, Trump rages as FBI clears Clinton over emails
Furious Donald Trump has accused the FBI of impropriety after the bureau cleared US presidential rival Hillary Clinton of criminal wrongdoing in a new email probe, lifting a cloud hanging over the Democrat as America goes to the polls on Tuesday. FBI director James Comey told the US Congress on Sunday that the bureau found no evidence to warrant criminal charges against Mrs Clinton in a trove of newly-discovered emails. But Republican Mr Trump told supporters it would have been impossible for the FBI to review what has been reported to be as many as 650,000 emails in so short a time and said Mrs Clinton was being protected by “a rigged system”.
- “More than a Dozen” Drugmakers under Criminal Investigation for Price-Fixing, Shares Plunge, after Getting Crushed All Year
The digital ink wasn’t dry yesterday on my article on How PE Firms Are Flipping Drugs in Price-Gouging Scheme that Cannibalizes the Entire US Economy, when Bloomberg reported that US prosecutors “are bearing down” on “more than a dozen” drugmakers “in a sweeping criminal investigation into suspected price collusion.”
- Donald Trump's Argument For America
- How PE Firms Are Flipping Drugs in Price-Gouging Scheme that Cannibalizes the Entire US Economy
The ravenous price increases that pharmaceutical companies slap on their medicines are part of the reason the US health care system is eating an ever larger slice of consumer, corporate, and government spending, and why the rest of the economy has trouble moving forward. Some of the price increases have turned into scandals with plenty of mouth-wagging by politicians. Mylan got raked over the coals in Congress for raising the price of its autoinjector EpiPen seven-fold since buying it in 2007. Last year, Turing Pharmaceuticals, under Martin Shkreli, got into hot water over raising the price of just-acquired Daraprim 50-fold.
- Another European Bank Becomes a Penny Stock
Despite receiving some of the most generous public subsidies in recorded history, Europe’s financial sector continues to hemorrhage. In Italy, the total market value of Monte dei Paschi di Siena, the world’s oldest bank and Italy’s third largest, is a fraction over €500 million, as its shares hover just 23 European cents above zero. In the EU’s largest economy, Germany, the country’s only G-SIB (Global Systemically Important Bank), Deutsche Bank, has seen its stock plummet close to 90% in the last 10 years,from €117 to €12.30. This year alone it’s down well over 40%.
- The Dollar Collapse Has Begun; U.S. Bank Failures Soon to Follow
In Part I of this three part interview between Elijah Johnson and Dr. Jim Willie, the interview starts off by with Elijah asking Dr. Willie about the unprecedented dumping of U.S. Bonds by China and Saudi Arabia in recent weeks. By “unprecedented” dumping, Elijah is referring to several weeks ago when the markets witnessed never before seen numbers as $28 billion in U.S. Treasuries were dumped in a single week, followed by another $23 billion a week or so later.
- Emails Warrant No New Action Against Hillary Clinton, F.B.I. Director Says
The F.B.I. director, James B. Comey, told Congress on Sunday that he had seen no evidence in a recently discovered trove of emails to change his conclusion that Hillary Clinton should face no charges over her handling of classified information. Mr. Comey’s announcement, just two days before the election, was an effort to clear the cloud of suspicion he had publicly placed over her presidential campaign late last month when he alerted Congress that the F.B.I. would examine the emails. “Based on our review, we have not changed our conclusions that we expressed in July with respect to Secretary Clinton,” Mr. Comey wrote in a letter to the leaders of several congressional committees. He said agents had reviewed all communications to and from Mrs. Clinton in the new trove from when she was secretary of state.
- “Sell Everything Now” David Stockman Warns, America Faces “Total Disaster…Partisan Warfare”
“Under a Trump victory, all bets are off,” warns former Director of the Office of Management and Budget under President Ronald Reagan, David Stockman. “I like [Trump] because he's against the establishment, but he has no economic program. Yes, he's a disruptor, but has nothing to disrupt with,” Stockman told CNBC, “if elected, it will be partisan warfare and a total disaster.” Stockman's message is clear, as CNBC notes, sell everything…
- WikiLeaks Documents Coming From US Intelligence Not Russia, MSM & Democrat Party Dying
There are numerous reports on the alternative media of documents being given to WikiLeaks to counter the corruption and lawlessness of the Obamas and Clintons. AG Loretta Lynch has been reportedly blocking an FBI investigation into the Clinton Foundation that many say is a “global charity fraud” and a “huge criminal conspiracy.” The leaked emails and documents show corruption between the Justice Department and Hillary Clinton. These documents and emails also show a grand cover-up of the true treason that has taken place in the highest offices of the U.S. government.
- Value of Gold – Unlike Paper Currency Gold Has Maintained Its Value Throughout Ages
The Value of Gold. “Unlike paper currency, coins or other assets, gold has maintained its value throughout the ages.” Jill Kerby, personal finance expert and Mark O’Byrne, Research Director of GoldCore were interviewed by Sinead Desmond of ‘Ireland AM’ on TV3 this morning about the “value of gold” as a store of wealth and financial insurance in our “electronic age”.
- Chinese firms to begin ‘new Egypt capital’ in 2017
Following months of speculation that the whole project had been scrapped, construction on Egypt’s New capital city by two of China’s biggest developers could begin as early as next year. The Egyptian government is targeting up to $45 billion in investments, and the agreements set to be finalized before the year’s end will bring the country closer to that target. Earlier this month, heads from China Fortune Land Development Company (CFLD) met with Egyptian President Abdelfattah Al-Sisi and agreed to provide $20 billion over the coming 10 years for the currently unnamed city mega project which is expected to break ground some 47 kilometers east of the current capital Cairo.
- Egypt awaits IMF help amid FX shortage
Egypt is reportedly weeks away from securing the first installment of its much-anticipated $12 billion loan from the International Monetary Fund as its currency continues to fall in the parallel market. Managing Director Christine Lagarde told reporters last week that “[Egypt has] almost completed” the actions required for the IMF board to review the loan accord. The board is expected to arrive in Cairo some time in early November to finalize a set of conditions that require Egypt’s compliance. The conditions include a host of economic reforms as well as confidence-building measures to help mitigate the debilitating impact of a foreign-currency shortage. One such stipulation is acquiring up to $6 billion from bilateral creditors.
- Something Big Is Underway On All Fronts: “Within The Next Few Weeks The Future Of The United States Will Be Decided”
As of this writing, the increased U.S. troop presence in Eastern Europe includes a battalion-sized element of American troops being emplaced in the Suwalki Gap, Polish territory that borders Lithuania in a 60-mile stretch of corridor. The Russian Defense Ministry announced that 600 Russian and Belarussian airborne troops conducted training exercises in Brest, on the Belorussian-Polish border only a few miles from where the U.S. forces are deploying in Poland. This on the heels of Britain deploying 800 men, tanks, and jets to Estonia, along with pledges of Challenger 2 tanks, APC’s (Armored Personnel Carriers), and drones. Two companies of French and Danish Soldiers will join the British in the deployment to Estonia.
- OPEC Chaos Sees Oil Prices Fall
Oil prices settled at a six-week low on Thursday following several consecutive days of large price declines. The major catalysts this week were doubts over an OPEC deal and EIA data showing a record build up in crude oil stocks. The EIA said Wednesday that U.S. oil inventories rose by 14.4 million barrels last week, the largest gain in a single week since data collection began in the early 1980s. WTI plunged below $45 per barrel on the news and the five consecutive days of losses was the longest streak since June. The data could be misleading, however. The huge buildup in inventories came largely because weekly imports spiked. Imports rose by about 2 million barrels per day last week after several weeks of hovering at below-average levels. The import spike was partially affected by bad weather, including a hurricane, and could be an anomaly. If that is the case, crude stocks probably won’t gain at similar rates in the weeks ahead.
- Every Asset Class Will Collapse: ‘You Need To Be Looking At Your Wealth In Terms Of How Many Chickens And How Much Gas You Can Buy’
There’s no other way to put it. The system as we know it will collapse. This, argues Karl Denninger of the Market Ticker, is a mathematical certainty. In a recent interview with Future Money Trends Denninger touches on the various dire challenges facing America. From the Presidential election to the rampant corruption in our financial, political and healthcare systems, he pulls no punches and warns that the worst is yet to come unless real action is taken immediately. Failure to do so, says Denninger, will lead to a collapse of everything we consider to be a part of our current way of life.
- OPEC Is Now Irrelevant – This Oil Price Plunge Is Different
Not very long ago, oil prices traded at well below $20/b and OPEC anxiously came up with a mechanism which it termed as “OPEC Price Band' $22-$28/b”. The rationale for this price band, was that OPEC members would find it sufficient for the growth of their oil and gas industry while the price was high enough to meet their government budgetary requirements. However, only a few years after this mechanism was introduced, oil prices exploded upwards and OPEC was forced to abolish its own price band in favour of higher oil prices.
- Gold may be real winner in US elections
To the relief of some but the worry of many others the US election is now just days away. Unlike past elections this one appears to grown more uncertain and fraught the closer it gets. Since the FBI announced further investigations into emails associated with Hillary Clinton, her lead has narrowed and voters appear to be even more undecided. For some the decision is a fate worse than death, as Reuters reported, ‘Young Americans are so dissatisfied with their choices in this presidential election that nearly one in four told an opinion poll they would rather have a giant meteor destroy the Earth than see Donald Trump or Hillary Clinton in the White House.’
- Oil Prices Set For Biggest Weekly Decline Since January
Having scored the largest weekly drop in six weeks last week, oil prices have continued to crash this week too, and are heading to their largest weekly loss since mid-January 2016, amid growing U.S. inventory builds and lingering skepticism that OPEC can pull off a production cut deal. At the time of writing, the WTI Crude futures for December delivery traded down 0.02 percent at US$44.65, while Brent Crude prices were down 0.32 percent at US$46.20. In the previous five days, WTI Crude touched a high of US$48.74 on October 31 and a low of US$44.29, today—for a five-day loss of $4.45 per barrel. WTI Crude prices have dropped by 8.2 percent this week so far.
- M&S to axe dozens of high street stores
The new boss of Marks & Spencer (M&S) is to axe dozens of UK stores and stop selling clothing in others in a radical shake-up of its high street presence aimed at persuading the City that he can revive the fortunes of Britain’s best-known retailer. Sky News has learnt that Steve Rowe, who took the helm at M&S earlier this year, will announce next week that a substantial chunk of its UK store portfolio is to be reorganised, a move that will include the outright closure of a significant number of shops.
- EXCLUSIVE: Trump's 13-year-old ‘rape victim' dramatically DROPS her case. Woman withdraws legal claim she was assaulted at Jeffrey Epstein sex party
The woman who alleged that Donald Trump sexually assaulted her at billionaire pedophile Jeffrey Epstein's notorious ‘sex parties' in 1994 when she was a 13-year-old has dropped the civil lawsuit that was filed against him. Trump's legal team branded the allegations ‘disgusting at the highest level' and a ‘hoax' clearly framed to ‘solicit media attention or, perhaps… simply politically motivated'. She first sued Trump and Jeffrey Epstein under the name Katie Johnson on April 26 in California federal court and filed an amended complaint in New York federal court in October, claiming she was subject to rape, criminal sexual acts, assault, battery and false imprisonment. The court papers offer no corroborative evidence that her claims are true.
- Baker Hughes and General Electric Unite In Merger
On Monday, two major industry companies made an official announcement: General Electric’s oil and gas sector will be merging with Houston’s own Baker Hughes in an effort to create a brand new “digital industrial services giant.” The deal, valued at roughly $32 billion, will unite the country’s biggest industrial company with the third-largest energy services giant in the world. The merger arrives just six months after Baker Hughes’ $35 billion acquisition by Halliburton was axed by the Justice Department due to anti-competition fears.
- WikiLeaks Podesta emails: Rahm Emanuel used private email server to conduct government business
Chicago Mayor Rahm Emanuel used a private email server to communicate with Democratic nominee Hillary Clinton’s campaign chair John Podesta, leaked emails reveal. Emanuel, a former House lawmaker who served early on in the Obama administration, sent an email to Podesta asking him to consider Brian DeSplinter for a position with Clinton’s campaign. Emnauel sent the email from the address “email@example.com.” The email address is still active, according to Mailtester.com, and is run through Google’s Gmail service. This is unlike Clinton who used a private email server based out of her Chappaqua, New York home.
- Trump Wants Former Goldman Partner And Soros Employee To Serve As Treasury Secretary
Six months ago, Steven Mnuchin became finance chair for the Trump campaign. Having succesfully helped to raise 10s of millions of dollars for the campaign, the former Goldman Sachs partner and Soros Fund management employee is now positioned for something much larger as Donald Trump reportedly told his aides today that he wants Mnuchin to serve as his Treasury Secretary.
- Stock Market Reaches Deadly 7 Straight Days of Losses As Catholic Jubilee Year End Day Approaches
The S&P 500 has only fallen for 7 straight days three times in the last 20 years. And, each time it was during a financial crisis. And, it just happened again today. The S&P 500 fell 0.65% on Wednesday, marking seven days in a row of losses. Further, the CBOE Volatility Index (VIX) spiked more than 40 percent over the last six days. It was the first time the VIX rose for six straight days since the lead-up to the UK’s Brexit vote. And, interestingly, the Federal Reserve met again today and surprise, surprise… they didn’t raise rates again – though as usual they keep threatening…
- KONGSBERG, Automated Ships to Build Unmanned, Fully-automated Vessel for Offshore Ops
The UK’s Automated Ships Ltd. and Norway’s Kongsberg Maritime have signed a memorandum of understanding to build the world’s first unmanned and fully-automated vessel for offshore operations. In January 2017, Automated Ships will contract the Hrönn, which will be designed and built in Norway in cooperation with KONGSBERG. Sea trials will take place in Norway’s newly designated automated vessel test bed in the Trondheim fjord and will be conducted under the auspices of DNV GL and the Norwegian Maritime Authority (NMA). The Hrönn will ultimately be classed and flagged, respectively.
- How Much Time do we have Before the Next Economic Crisis?
Since early July, the 30-year US Treasury Bond Price Index has plunged 8.3%. It’s now called “the rout” in longer-dated government bonds. One of the specters is rising inflation at a time of ultra-low yields. What has become the number one predictor of a bear market in stocks over the past many decades? The US Treasury yield curve. It drives bank lending – which can strangle the economy. But this time, the risks are much higher, and the potential economic consequences steeper. The yield curve depicts the yields of different maturities of Treasury securities. Normally, those with short maturities have very low yields, and those with longer maturities have higher yields.
- OBAMACARE: Your Dog Might Have Better Healthcare Than You Do
It’s not exactly controversial these days to suggest that the US healthcare system is in bad shape. According to data collected by numerous independent agencies like the Institute of Medicine, Commonwealth Fund, and Kaiser Family Foundation, the US still ranks dead last among advanced economies in overall quality of its healthcare system. In fact, the US healthcare system has the worst record in the number of deaths caused by mistakes or inefficient care. And wait times in the US for urgent care and primary care visits rank lower than every other developed nation.
- Julian Assange: Isis and Clinton Foundation are both funded by Saudi Arabia and Qatar
Wealthy officials from Qatar and Saudi Arabia who donated money to Hillary Clinton’s charitable foundation also provided financial support to Isis, WikiLeaks founder Julian Assange has claimed. In an extended interview at the Ecuadorian embassy in London with documentary maker John Pilger for RT, Mr Assange said the same Saudi and Qatari officials could be seen to be supporting both the Clinton Foundation – founded by Mrs Clinton’s husband Bill – and funding the activities of Isis.
- “I Feel Like Pablo Escobar” – Venezuelans Resort To Weighing Cash As Hyperinflation Builds
Having thrown in the towel on hyperinflation by printing banknotes with 200-times-higher denominations, Bloomberg reports that things in Venezuela have continued to get worse with the currency now so devalued (with even simple purchases requiring so many bills) that instead of counting bills, they are weighing them. Once one of the world’s strongest currencies, the bolivar has been reduced to a nuisance. Basic purchases require hundreds of bills. Shoppers shove piles of them into gym bags before venturing into crime-plagued streets and shopkeepers stash thousands in boxes and overflowing drawers. In the absence of official data, economists are left to guess what the inflation rate is. Estimates for this year range from 200 percent to 1,500 percent. At a delicatessen counter in eastern Caracas, Humberto Gonzalez removes slices of salty white cheese from his scale and replaces them with a stack of bolivar notes handed over by his customer. “It’s sad,” Gonzalez says. “At this point, I think the cheese is worth more.”
- Fed Sends New Signals About a Possible December Rate Increase
Inflation is finally showing signs of behaving the way Federal Reserve officials want it to, bolstering the case for them to raise short-term interest rates next month. They decided Wednesday to leave rates unchanged while sending new signals that they could move at their next meeting, Dec. 13-14. Inflation has “increased somewhat since earlier this year,” Fed officials said in a statement released after a two-day policy meeting, noting also that some investors’ expectations of future inflation “have moved up but remain low.”
- Don’t Sweat The Election. The Next Crisis Is Already Baked Into The Cake
Friday was one of those days where you walk away from the screen for a minute and come back to find a completely different market. All it took was the FBI finding a trove of new Clinton emails, thus breathing new life into the Trump campaign and throwing what was a foregone conclusion back into doubt. Stocks tanked and gold popped, illustrating Wall Street’s preference in the upcoming election. It will be this way until the vote, especially if polls continue to tighten and the outcome remains uncertain. So there’s no point in obsessing over fundamentals for now. Nothing real will matter until we find out who gets to mess things up going forward. Sort of like the original Ghost Busters where the demon/god says “Choose the form of the destructor.”
- Three Out Of Four Americans Believe The Media Wants Hillary To Win
In light of the Podesta email revelations, as well as the daily farce that is CNN “objective reporting”, it will hardly surprise anyone, that the American public thinks the media wants Democratic presidential nominee Hillary Clinton to win by an almost 10-to-1 margin, according to a new poll. According to a Suffolk University/USA Today poll, which asked “who do you think the media, including major newspapers and TV stations, would like to see elected president: Hillary Clinton or Donald Trump?” the answer was clear: of the 1,000 adults surveyed, 75.9 percent answered Clinton, while just 7.9 percent picked Trump. Just more than 16 percent of respondents chose either “neither” or “undecided.”
- Billionaire: “Single Digit Millionaires” Are Too Poor to Get Justice In America
Billionaire Peter Thiel said yesterday: “If you’re a single-digit millionaire … you have no effective access to our legal system.” Thiel is saying even plain vanilla millionaires can’t afford justice in America. Fordham Law School professor and criminal justice expert John Pfaff notes that – using 2007 numbers – many states’ entire budgets for legal defense for people who can’t afford a lawyer is in the single-digit millions. (Given that the Great Recession happened shortly afterward, those numbers have undoubtedly declined since 2007.) In other words, under Thiel’s logic, even if an entire states’ annual budget for legal defense were spent on a single person, it wouldn’t be enough to deliver justice.
- With insurers pulling out of markets, some Obamacare users “really nervous”
Open enrollment for Obamacare, or the Affordable Care Act, begins today. Problems with the law mean consumers could face significant rate hikes in some parts of the country. There will also be fewer health plans to choose from. Starting today, the administration will make a major enrollment push — but that may be a tough sell in states like Tennessee, which has seen premiums spike more than 50 percent, reports CBS News correspondent Margaret Brennan.
- Not all the Standing Rock Sioux are protesting the pipeline
Ask around and you’ll hear stories of pipeline protesters who’ve traveled great distances. They’ve come from Japan, Russia and Germany. Australia, Israel and Serbia. And, of course, there are the allies, not exclusively Native American or indigenous, who’ve flocked here from all corners of the US. Together they stand in opposition to the Dakota Access Pipeline, a $3.7 billion investment to move 470,000 barrels of domestic crude oil a day through four states. They’re fighting against what they see as corporate greed, an environmental threat and an assault on sacred land. Demonstrating is their proud daily work.
- Recessions, Predictions and the Stock Market
We were recently made aware of an interview at Bloomberg, in which Tony Dwyer of Cannacord and Brian Wieser of Pivotal Research were quizzed on the recently announced utterly bizarre AT&T – Time Warner merger. We were actually quite surprised that AT&T wanted to buy the giant media turkey. Prior to the offer, TWX still traded 50% below the high it had reached 17 years ago. The merger as such is actually not what we want to discuss though. Rather, it is a remark of Mr. Dwyer’s regarding the stock market in general and what the recent merger mania is signaling. He makes two major points in the course of the conversation. For one thing, he notes that the merger (along with many other mergers that have recently been announced) is the result of the extremely easy availability of credit.
- Italy’s Banking System on Verge of Nervous Breakdown
One of the best indicators of whether a financial crisis is in full swing is when senior insiders begin to lose it in public. That’s precisely what happened in Italy on Thursday when Italian senior banker Giuseppe Guzzetti gave a speech at a conference in honor of World Savings Day, an international event that, unbeknownst to 99.9% of mankind, takes place every year on Halloween (Oct. 31). During his address, Guzzetti admitted that Atlante II — one of two bad bank funds created to provide much-needed support to Italy’s crumbling banking sector (the other being its predecessor, Atlante I) — is chronically underfunded. The fund, set up in the spring to help Italy’s most fragile banks, in particular Monte dei Paschi, remove some of the most toxic debt off their balance sheets, has experienced six intense months of activity, “but is now out of breath,” Guzzetti lamented.
- Done in by Overcapacity, Stagnant World Trade, and China, Korean Shipbuilders Collapse on Top of Taxpayers
The ravaged shipbuilding industry in South Korea, deemed too big to fail, is getting its largest taxpayer bailout yet, totaling $9.6 billion, on top of the bailout funds already handed out last year, and on top of another $9.6 billion this year to bail out state-owned banks that were getting slammed by defaulting loans extended to the shipping industry. Their problem: according to trade ministry, cited by the Wall Street Journal, orders for new ships to be built in South Korea have collapsed by 87% over the past nine months from the already terrible 9-month period last year, to almost nothing.
- Can The American People Defeat The Oligarchy That Rules Them? — Paul Craig Roberts
Aren’t you surprised that Hillary and the presstitutes haven’t blamed Putin for FBI director Comey’s reopening of the Hillary email case? But the presstitutes have done the next best thing for Hillary. They have made Comey the issue, not Hillary. According to US Senator Harry Reid and the presstitutes, we don’t need to worry about Hillary’s crimes. After all, she is only a political woman feathering her nest, just as political men have done for ages. Why all this misogynist talk about Hillary? The presstitutes’ cry is that Comey’s alleged crime is far more important. This woman-hating Republican violated the Hatch Act by telling Congress that the investigation he said was closed is now reopened. A very strange interpretation of the Hatch Act. During an election it is OK to announce that a candidate for president is cleared but it is not OK to say that a candidate is under investigation.
- Gerald Celente: Fear Index Spiking After A Fed President Just Confessed ‘Radical Monetary’ Policies Have Failed
With the U.S. dollar, stocks and crude oil trading lower and the price of gold and silver surging, the Fear Index is spiking after a Fed President just confessed that the central banks’ radical accommodative monetary policies have failed. Gerald Celente — Between the stream of WikiLeaks’ email dumps challenging the practices of Hillary Clinton’s campaign and the ethics of the Clinton Foundation, plus the FBI’s announcement to further investigate Clinton’s emails from her private server when she was secretary of state, Wall Street’s odds she would beat Donald Trump next Tuesday are no longer a sure bet.
- The Coming Super Depression, Social Unrest, Wars, Cyberwars, $10,000 Gold & $1,000 Silver
With continued uncertainty in global markets, 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 the the coming ‘Super Depression,’ social unrest, wars, cyberwar, $10,000 gold, and $1,000 silver. The Beginning Of The End. Egon von Greyerz: “Money printing and debt is just the most beautiful scheme invented by governments to make ends meet and give the people whatever they want. In this perfect system, it makes not the slightest difference if the budget doesn’t balance. Conventional methods of increasing taxes or reducing government expenses is old hat and totally unnecessary. With modern methods, such trivial problems are solved by the printing press…
- 10 Urgent preparedness items you’ll need when Trump wins the election next Tuesday
This is a message from ‘The Health Ranger’ Mike Adams from NaturalNews.com. For almost a year, he has been publicly predicting that Donald Trump will win the election. Now, with the deep state turning against Hillary — and with damning evidence about to be leaked that will take her down forever — a Trump victory is more certain than ever… While a Trump win is a true victory for America, it’s just the beginning of the establishment’s war on Donald Trump and the revolution he’s supporting. The Washington political establishment, remember, absolutely despises democracy… and they are determined to do anything necessary to destroy Trump, remove him from power and install their own obedient political puppets who will do their bidding.
- Pastor Lindsey Williams introduces Pastor David Bowen – November 3, 2016
Pastor Lindsey Williams introduces Pastor David Bowen with his sixth short weekly video for readers of Pastor Williams’ weekly newsletter.
THE FINAL BUBBLE! Pastor Williams says the information shared by this economist is outstanding and correct. What he says will happen. >>> CLICK HERE TO WATCH THE VIDEO (This video is being shared because the information within it is truly good and correct. Half way through the video it turns into a sales pitch to sell a book and related products. Pastor Williams has asked me to state that Pastor Williams and LindseyWilliams.net do not endorse this book).