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 January 27, 2017 to February 2, 2017:
- Trump Fights to Takedown Bad Guys
According to precious metals and financial expert Bix Weir, what’s going on in Washington now is simply a struggle for control between good and evil. Weir explains, “The left is going nuts. They say they are not violent, but they are causing all these riots and protests everywhere. I am convinced that this takedown of the bad guys is going to get a lot uglier. It will get uglier because the left leaning Obama people have been given so many rights that are not in the Constitution and are not anywhere in a capitalistic society. It’s more towards socialism, and when you try to take away the rights given to socialists, they get armed. They go into the streets.”
- Why One Trader Thinks “The Fed Is About To Take Out The Last Pillar Supporting The Dollar”
Fed Can’t Help Dollar Bulls in Denial. Expect the Fed to take out one of the last pillars of dollar support today. Dollar bulls are still not capitulating despite it being on target for a sixth consecutive week of losses. While some doubts are finally starting to creep in, the majority of analyst notes this week suggest the FOMC can put the dollar uptrend back on track. I’m surprised. It’s hard to see how the Fed can be hawkish given the economic policy turmoil of the last couple of weeks. All measures taken so far by Trump’s administration are negative for growth rather than reflationary. This is particularly pertinent when put in context of how optimistic expectations were only two months ago.
- White House Blackballs CNN; Refuses To Send Surrogates On “Fake News” Network
Well, it's official…according to a note from Politico, the White House has confirmed that surrogates of the Trump administration will no longer appear on CNN and will instead go to “places where we think it makes sense to promote our agenda.” “We’re sending surrogates to places where we think it makes sense to promote our agenda,” said a White House official, acknowledging that CNN is not such a place, but adding that the ban is not permanent. A CNN reporter, speaking on background, was more blunt: The White House is trying to punish the network and force down its ratings. “They’re trying to cull CNN from the herd,” the reporter said. Of course, this development should come as little surprise to anyone who has been paying attention given that Trump has constantly blasted CNN as a “Fake News” outlet ever since his heated exchange with Jim Acosta at a press conference on January 11th.
- Gorsuch Will Not Shift The Balance Of Power On The Supreme Court As Much As You May Think
On Tuesday, President Trump announced that he would nominate Neil Gorsuch to fill the open seat on the U.S. Supreme Court. Gorsuch currently serves on the 10th U.S. Circuit Court of Appeals in Denver, and he was confirmed unanimously by the Senate when he was appointed to that position by President George W. Bush in 2006. Gorsuch appears to have some strong similarities to Antonin Scalia, and many conservatives are hoping that when Gorsuch fills Scalia’s seat that it will represent a shift in the balance of power on the Supreme Court. Because for almost a year, the court has been operating with only eight justices. Four of them were nominated by Republican presidents and four of them were nominated by Democrats, and so many Republicans are anticipating that there will now be a Supreme Court majority for conservatives.
- Trump Picks Anti-Choice Federal Judge Neil Gorsuch for Supreme Court
Within minutes of President Trump’s nomination of federal judge Neil Gorsuch to the Supreme Court, several hundred demonstrators had converged on the steps of the Supreme Court in Washington, D.C. to protest his selection. Waving signs proclaiming, “Gorsuch: Extreme and Dangerous” and “#NoWall #NoBan,” the protesters and a stream of speakers linked the conservative nominee to the administration’s unconstitutional ban on immigrants from seven predominantly Muslim countries, and pledged to defy both.
- Lindsey Williams – The Energy Non-Crisis – Call To Decision Presentation
Lindsey Williams talks about his first hand knowledge of Alaskan oil reserves larger than any on earth. And he talks about how the oil companies and U.S. government won’t send it through the pipeline for U.S. citizens to use.
- Ron Paul Warns: “Second Financial Bubble Going To Burst Soon… Even Trump Can't Stop It”
By all appearances notes SHTFPlan.com's Mac Slavo, President Trump is doing his damnedest to turn around the economy, revitalize jobs and bring back prosperity. But the larger trends are already in place; the cycle is turning, and the bust cannot be put off forever. “Federal Reserve policy has literally set the country up for collapse, and though the central bank has been very creative in making the impossible work, and putting off disaster, nothing can hold back the flood forever. Unfortunately, it looks like Trump may be blamed for a financial crisis that he didn’t cause. Analysts, including notably Brandon Smith, may be correct in pinpointing the attempt to use the new and highly controversial president as a scapegoat for the dirty work of the bankers. The conditions are there, and the consequences were built in when the bubble was still being pumped up. Someday it will burst. When, how, and how bad remains to be seen.”
- The other “ban” that was quietly announced last week
Most of the world is in an uproar right now over the travel ban that Donald Trump hastily imposed late last week on citizens of seven predominantly Muslim countries. But there was another ban that was quietly proposed last week, and this one has far wider implications: a ban on cash. The European Union’s primary executive authority, known as the European Commission, issued a “Road Map” last week to initiate continent-wide legislation against cash. There are already a number of anti-cash legislative measures that have been passed in individual European member states.
- Japan Thinks It Can Balance Its Budget
A recurring problem for most developed-world governments is explaining why last year’s plan didn’t work while convincing voters that this year’s new and improved plan will do the trick. This is especially tough when the new plan is pretty much the same as the old one and therefore just as likely to fail. Let’s take Japan as our first object lesson. Its government is the world’s most deeply indebted relative to GDP. Its population is the world’s oldest, with the number of retirees on public assistance soaring. Yet for some reason its leaders keep promising to balance the budget, only to be forced to push the date further into the future with each new report.
- Adventures in Currency Debasement
The U.S. dollar, as measured by the dollar index, has generally gone up since mid-2014. The dollar index goes up when the U.S. dollar gains strength (value) against a basket of currencies, including the euro, yen, pound, and several others. Conversely, the dollar index goes down when the U.S. dollar loses value. Between July 30, 2014 and December 28, 2016, the dollar’s value, as measured by the dollar index, increased from 79.78 to 103.30 – or 29 percent. Since then, the dollar index has dropped to about 100. In addition, President Trump has said that the dollar is “too strong” and Treasury Secretary Steven Mnuchin has called the dollar “excessively strong.”
- Senate confirms Rex Tillerson for secretary of State
The Senate confirmed former ExxonMobil CEO Rex Tillerson as secretary of State on Wednesday, even as Democrats blocked progress on other Cabinet nominees chosen by President Trump. Three Democrats and one Independent who generally votes with the Democrats joined a solid rank of Republicans in approving Tillerson 56-43. The vote puts a man who has negotiated business deals with countries around the world, including some hostile to the United States, in position to negotiate on behalf of Trump in matters of war and peace, climate change and human rights.
- BUCKLE UP: Available Physical Gold & Silver Supplies Drying Up In London’s LBMA As The Price Of Silver Surges
In what promises to be a wild 2017 we are already seeing physical gold and silver supplies drying up in London’s LBMA as the price of silver surges. James Turk: “There has been a lot of gold and silver moving to China recently, prior to the Chinese New Year, and that’s starting to show up in terms of the lack of liquidity over here in London. And even as prices were going down as the options were ready to expire, we were seeing backwardation in gold. The spot price of gold was a dollar or so above what February delivery prices were and it was only a few days until February delivery. So we are seeing the tightness in terms of the way the market is trading. We are also seeing the tightness in terms of the spreads and the backwardation in gold plus the metals flows themselves. Eric, I keep reminding myself of where we were several years ago, back in 2009-2010. We have those same kind of circumstances (where gold and silver skyrocketed) developing right now and nobody is paying attention.
- Here Are The Technical Reasons Why Oil Is About To Plunge
There are basically two ways to analyze markets and make trading decisions, the fundamental and the technical. Logically speaking, fundamental factors and analysis always have the upper hand, particularly over a longer time period. In the case of crude oil, for example, if supply is outstripping demand the price is going down, no matter what your charts indicate. In the short term, though, as traders pay attention to technical factors they can be enormously powerful. Right now there is a battle going on between the fundamental and technical in the WTI market and, unusually, this looks like one that technical factors will win. Two weeks ago here I predicted higher oil and we did climb from around $51 to $54, but the likely outcome of this battle has caused me to expect another drop from here.
- BlackRock: Inflation Is Surging, So Buy Some Gold
Russ Koesterich discusses the signs that inflation is rising faster than many expect, and what that means for your portfolio. Like the proverbial frog that does not notice the rise in water temperature until it’s too late, investors seem to be experiencing a similarly stealthy rise in inflation. Changes in headline inflation measures suggest a gentle firming in prices. However, underneath the surface there is evidence that inflation may continue to rise past the steady 2% nirvana that central banks prefer.
- Barron’s Calls For Dow 30K Already
The financial magazine which has made an art out of calling for big, round numbers in the Dow Jones Financial Index (as a reminder over 20% of the Dow’s surge since the election is due entirely to Goldman Sachs), most recently with its “get ready for Dow 20,000” call from just over a month ago, has done it again. While there are still those – pretty much anyone who still cares about fundamentals – who are scratching their heads at Dow20K, according to Barrons “the Dow hitting 20,000 was no fluke. Today’s stock prices are well supported by solid prospects for corporate earnings and economic growth.”
- China Sets the Stage to Replace the U.S. As Global Trade Leader
Saturday marked the Lunar New Year, the most important date in the Chinese calendar. It’s also the start of the longest holiday at two weeks, during which the largest mass migration of humans occurs every year as families reunite and go on vacations, both domestic and overseas. 2017 is the year of the 10th Chinese zodiac, the fire rooster, one of whose lucky colors is gold. Year-to-date, gold—the metal, not the color—is up 3.5 percent, which is below the 5.7 percent it had gained so far around this time last year. Unfortunately, gold prices won’t find support from Chinese traders this week, as markets will be closed in observance of the new year. If you remember, the yellow metal had one of its worst one-day slumps of 2016 back in October during China’s Golden Week, when markets were similarly closed.
- THE NEW AGENDA – Knowing This Is Your Key To Survival – A New DVD From Pastor Lindsey Williams
THE NEW AGENDA – Knowing This Is Your Key To Survival! The Elite Agenda – Point by Point. Reserve Currency – Which One? How Long Do We Have? Why The Elite Changed Their Agenda. MONEY – Under The New Agenda. Gold and Silver. Suggested New Mindset. THE NEW AGENDA – Knowing This Is Your Key To Survival! The New DVD From Pastor Lindsey Williams. Order NOW Online For SHIPMENT NOW!
- Embry – A Jaw-Dropping 8.6 Million Ounces Of Paper Gold Longs Just Blew Up At The Comex!
With the Dow tumbling back below the 20,000 level, one of the greats in the business told King World News that a jaw-dropping 8.6 million ounces of paper gold longs just blew up at the Comex! U.S. Economy Weakest Since 2008 Collapse. John Embry: “With all of the chaos regarding the immigration decrees, I think most observers have lost track of what is really happening with the U.S. economy. Instead they are focusing on the turmoil in the country and the record highs on the Dow…
- The Media Is Now The Political Opposition
Bannon is correct that the US media—indeed, the entire Western print and TV media—is nothing but a propaganda machine for the ruling elite. The presstitutes are devoid of integrity, moral conscience, and respect for truth. https://www.rt.com/usa/375271-bannon-trump-media-cnn/ Read the comments in which morons define freedom of the press as the freedom to lie to the public. Who else but the despicable Western media justified the enormous war crimes committed against millions of peoples by the Clinton, Bush, and Obama regimes in nine countries—Afghanistan, Iraq, Libya, Pakistan, Yemen, Syria, Somalia, Palestine, and the Russian areas of Ukraine?
- Dow 20K, US Debt $20 Trillion, Trump and Gold US: Dow 20K … US Debt $20 Trillion … Trump and $15,000 Go
In case you’ve been hiding under a rock, the Dow Jones Industrial Average reached 20,000 earlier this week for the first time in its 132 year history to much media fanfare. Since Trump’s election US market indicators, including the Dow have been ticking up – it has been labelled the Trump rally. This latest milestone is something that the new President is happy to take credit for. In fact, he tweeted ‘Great! #Dow20K’ in response.
- Why 2017 Could See the Collapse of the Euro
2017 could be the year that the euro collapses according to Joseph Stiglitz writing in Fortune magazine and these concerns were echoed over the weekend by former Bundesbank vice-president and senior European Central Bank official, Jürgen Stark, when he said that the ‘destruction’ of the Eurozone may be necessary if countries are to thrive again. Stark and Stiglitz are too of many respected commentators, from both the so called right and the so called left, who are warning that the common currency and the Eurozone itself will not survive the financial and political turmoil already besetting the European monetary union and set to deepen in the coming months and years.
- Why Our System Is Broken: Cheap Credit Is King
Cheap credit–newly issued money that can be borrowed at low rates of interest–is presented as the savior of our economic system, but in reality, it’s why our system is broken. The conventional economic pitch goes like this: cheap credit enables consumers to buy more goods and services (and since the system needs growth or it implodes, that’s good). Cheap credit also enables companies to invest in new productive assets (capital). Last but not least, low rates of interest enables the government at all levels to borrow money at relatively low cost.
- Remember When Obama Supported A Border Wall?
There really is no limit to the mainstream media’s support for the far-left’s hypocrisy, or their use of a double standard when it comes to covering the Democrats… none. For months we’ve heard all about how the “integrity of our democracy” was under siege by “thugs” like Vladimir Putin, while no one has been talking how “thugs” like Barack Obama and Jey Johnson were using the Department of Homeland Security’s computer systems to try and hack into several states’ election systems AFTER the voting had taken place, but BEFORE results were certified. Yeah, good luck explaining that one. Thankfully, as of January 17th, the Inspector General of the DHS, John Roth, was cleared to being his investigation into the matter.
- Fed Will Be Forced to Print & Kill Dollar
Economist John Williams warned last year the U.S. economy never really recovered, and it was going to turn down again. That downturn happened Friday when the latest GDP figures came in below 2% growth in the fourth quarter of 2016. Williams says the economy “contracted,” and he contends it’s going to get a lot worse before it gets better. Williams explains, “I think there is reason for optimism in terms of the economy down the road. The problem is irrespective of who is president. When you introduce new policies, it takes about nine months to a year before we see the impact. So, the impact of all the happy things that are happening now won’t start to surface until 2018 barring other complications. I expect you to see a pickup in the economy then. Unfortunately, we are still in an economy that is turning down. You are going to see that in the reporting in the next several months. We never really recovered from the economic collapse going into 2009. There was a little bit of a rebound, and we started to see the economy turn down again in 2014. If you look at the underlying series such as industrial production, freight indices and petroleum consumption, there has been no recovery. We are turning down again. This is the longest and deepest economic contraction since the Great Depression.”
- Trump’s Busy First Week, Voter Fraud is Real, Updates on War and Economy
Donald Trump had a very busy first week in office. He started work on the day he was sworn in as the 45th President of the United States. First thing he did was sign an Executive Order to take away some tax burdens for people who have to pay a penalty for not having health insurance. He also pushed ahead on the long stalled XL Pipeline, clamped down on immigration and took the first steps to build a wall between the U.S. and Mexico. Trump also made the claim that “three to five million” illegal votes were cast in the 2016 election, and that cost him the popular vote. The mainstream media (MSM) basically called him a sore winner and a liar and said there was no evidence of voter or election fraud. So, Trump ordered an investigation to get evidence of widespread fraud.
- Now It Is The Elite That Are Feverishly ‘Prepping’ For The Collapse Of Society
Once upon a time, “prepping” was something that was considered to be on “the lunatic fringe” of society. But in 2017, wealthy elitists are actually the most hardcore preppers of all. This is particularly true in places such as Silicon Valley, where a whole host of young tech moguls are putting a tremendous amount of time, effort and money into preparing for apocalyptic scenarios. So while interest in prepping among the general population has fallen extremely low right now, the election of Donald Trump has given liberal wealthy elitists even more urgency to prepare for what they believe is a very uncertain future.
- The United States Is On The Precipice Of Widespread Civil Unrest
It doesn’t take much of a trigger to push extremely large crowds of very angry protesters into committing acts of rioting and violence. And rioting and violence can ultimately lead to widespread civil unrest and calls for “revolution”. The election of Donald Trump was perhaps the single most galvanizing moment for the radical left in modern American history, and we have already seen that a single move by Trump can literally cause protests to erupt from coast to coast within 48 hours. On Friday, Trump signed an executive order that banned refugees from Syria indefinitely and that placed a 90 day ban on travel to the United States for citizens of Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen. Within hours, protesters began to storm major airports, and by Sunday very large crowds were taking to the streets all over the country…
- Is It Just A Coincidence That The Dow Has Hit 20,000 At The Same Time The National Debt Is Reaching $20 Trillion?
The Dow Jones Industrial Average provides us with some pretty strong evidence that our “stock market boom” has been fueled by debt. On Wednesday, the Dow crossed the 20,000 mark for the first time ever, and this comes at a time when the U.S. national debt is right on the verge of hitting 20 trillion dollars. Is this just a coincidence? As you will see, there has been a very close correlation between the national debt and the Dow Jones Industrial Average for a very long time. For example, when Ronald Reagan took office in 1991, the U.S. national debt had just hit 994 billion dollars and the Dow was sitting at 951.
- Eurozone ‘destruction' necessary if countries are to thrive again, warns former ECB hawk
The eurozone must break up if its members are to thrive again, according to a former European Central Bank official. Jürgen Stark, who served on the ECB’s executive board during the financial crisis, said it was time to “think the unthinkable” and work towards a “reset” of Europe that pulled power away from Brussels. The former vice-president of Germany’s Bundesbank said the creation of a two-speed eurozone, with France and Germany at its core, would help to ensure the smaller bloc’s survival.
- Trump orders ISIS plan, talks with Putin and gives Bannon national security role
President Trump on Saturday ordered the Pentagon to devise a strategy to defeat the Islamic State and restructured the National Security Council to include his controversial top political adviser as he forged a partnership with Russian President Vladimir Putin in their first official phone call. Trump and Putin spoke for one hour and vowed to join forces to fight terrorism in Syria and elsewhere, according to the White House and the Kremlin, signaling a potential shift in U.S.-Russian relations that have been marked by high tension.
- New World Order Pushing Cashless Agenda in India and Around the World
The cashless agenda has taken a giant leap forward worldwide in the last 2 months, mainly due to Indian Prime Minister Narendra Modi. Modi took the bold, detested and despised step of banning the 2 highest denomination notes in India (the 500 and 1000 rupee notes, worth around US$7.50 and $15 respectively). This wiped out around 80% of the value of circulating cash widely used by many segments of society for trade. His reason was to cut down on the black money circulating in India upon which tax is not paid. However, from the broader perspective of the worldwide New World Order (NWO) conspiracy, converting the entire world economy to solely digital transactions is not just about extracting more tax revenue from the ruled populations; it’s about knowledge and power. It’s about surveillance on an extraordinary scale. The cashless agenda is about acquiring the capacity to monitor literally every single financial transaction that takes place on the planet. Unsurprisingly, the new cash ban hurt many poor Indians who either don’t have a bank account or who rarely use one. Also unsurprisingly, the idea for the ban did not originate from Modi. The truth is that India is being used as the latest guinea pig to push forth the NWO cashless agenda, and a particular US Non-Governmental Organization (NGO) was instrumental in the rollout.
- Trump’s education secretary pick plans to get rid of Common Core standards
Betsy DeVos, Donald Trump’s pick for Secretary of Education, will put the brakes on the contentious Common Core standards if she is confirmed by the Senate. “It’s time to make education great again in this country,” she said at a Trump rally in Grand Rapids, Mich., on Friday. “This means letting states set their own high standards and finally putting an end to the federalized Common Core.” DeVos, a prominent Republican donor and the former head of the Michigan GOP, is known as a charter-school advocate and a booster of school choice and education vouchers. DeVos’ five-minute speech echoed her new boss’s stance.
- A Tariff with Mexico Will Ensure Americans Pay for Border Wall
The AP is reporting that Sean Spicer has informed reporters that President Trump is considering a 20% on Mexican goods as a way to fund his Mexican border wall. Though Trump has insisted throughout his presidential campaign that “Mexico will pay” for any such project, this move would ensure that it is Americans who will suffer the costs as they are forced to pay extra on Mexican goods coming into the country.
- Trump Can't Avoid The Coming Financial Crisis
The Federal Reserve's policies of printing trillions of dollars back in '08-09 have locked into place a serious financial crisis at some point in our future. It's unavoidable, and even Donald Trump can't stop it. Trump will unfairly get the blame though.
- Trump’s Executive Order on Refugees — Separating Fact from Hysteria
To read the online commentary, one would think that President Trump just fundamentally corrupted the American character. You would think that the executive order on refugees he signed yesterday betrayed America’s Founding ideals. You might even think he banned people from an entire faith from American shores.
- Trump pick for Energy secretary sits on Dakota Access Pipeline company's board
Donald Trump's pick for Energy secretary, Rick Perry, sits on the board of directors of Energy Transfer Partners, the company whose Dakota Access Pipeline has been fiercely opposed by Native American tribes and their allies. Dallas-based Energy Transfer's top executive and other employees also contributed millions of dollars to support the former Texas governor's short-lived 2015 bid for the White House.
- Dear Bernie, Meet the “Big Mac ATM” That Will Replace All Of Your $15 Per Hour Fast Food Workers
Dear Bernie, as you continue in your never-ending “Fight for $15”, we thought you might benefit from a simple example of how economics work in a real life, functioning, capitalistic society. You see, Bernie, labor, much like your daily serving of crunchy granola, is just another “good” that businesses can choose to consume more or less of, depending on price. And, just to be crystal clear, when the price of labor (i.e. wages) increases, businesses tend to consume less of it. Finally, our dearest Bernie, when misinformed politicians radically disrupt labor markets by setting artificially high base prices, like your proposed $15 federal minimum wage, then businesses simply stop consuming labor completely and instead replace that labor with this “Big Mac ATM Machine.”
- Americans Pay More in Taxes than on Food, Clothing, and Housing Combined
Our annual Tax Freedom Day report finds that the nation’s Tax Freedom Day will come on April 21st this year, which is three days later than last year. The calendar measure represents how long Americans as a whole need to work in order to pay the nation’s tax burden. The report estimates that Americans will pay about $4.5 trillion dollars in taxes of all kinds in 2014, with $3 trillion going to the federal government and $1.5 trillion dollars going to state and local governments. This is approximately 30.2 percent of the nation’s income paid in taxes. In total, Americans will pay more in taxes in 2014 than on food, clothing, and shelter combined.
- What They Tell You: Trump Is Restarting The Pipeline. What They Don't Tell You: It's 70 Miles From Standing Rock And Made With American Steel
If the United States is to become more energy independent, some say, then it is imperative that additional oil and gas pipeline infrastructure is built. And that includes the Keystone XL and the Dakota Access Pipelines, which is why President Donald Trump has signed executive orders to allow permitting to be streamlined. But the key question is whether presidential support can overcome the economics of the Keystone project, as well as the fierce environmental opposition to it and the Dakota line. While the president has the power the microphone, he does not have the power of a monarch. The lines still need the approval of the states they'll operate in.
- MAINSTREAM MEDIA IS OVER! Look What Trump Just Installed in The Back of The Press Room!
The media’s WAR on Trump continues but he is fighting back! Trump’s Press Secretary, Sean Spicer, just announced the installation of their SECRET WEAPON that will take all the power away from the mainstream media! Spicer started by DESTROYING the media for their dishonest coverage of Trump. Spicer said: “I THINK THERE’S AN OVERALL FRUSTRATION WHEN YOU WHEN YOU TURN ON THE TELEVISION …YOU’RE CONTINUALLY TOLD IT’S NOT BIG ENOUGH, IT’S NOT GOOD ENOUGH, YOU CAN’T WIN.” After these comments, Spicer announced their SECRET WEAPON that they installed in the press room to take away CNN’s and the FAKE NEWS media’s power!
- Trump advances two energy infrastructure projects: Keystone XL and the Dakota Access pipelines… can he balance infrastructure with environmental protection, too?
On the official “Day 2” of the new administration, President Donald J. Trump continues to dismantle the legacy of his predecessor using all executive means at his disposal, fulfilling his promise to “Make America Great Again.” This morning, the president signed documents that will advance the eventual approval and construction of the Keystone XL and Dakota Access pipeline projects, both of which were stalled by President Barack Obama over the false notion of “climate change/global warming.”
- A Horrific Ending As The World Moves One Day Closer To Armageddon
With the Dow surging above 20,000, while bonds and the dollar were weak once again, one of the greats in the business just warned that a horrific ending is coming as the world moves one day closer to Armageddon. John Embry: “Eric, I read Egon von Greyerz’s KWN interview over the weekend and it was such a tour de force that I’m not sure what I can add to what he already said. However, I agree with every word of his interview, and the fact that the vast majority of the population, including most of the rich and famous, seem oblivious to that reality and the resulting coming catastrophe, this virtually guarantees it can’t be avoided…
- Halliburton reports $5.7 billion in losses
Halliburton, the world’s second largest oil field services company, reported dramatic losses Monday after a failed bid to take over rival Baker Hughes. Halliburton, based in Houston, said it lost $5.7 billion or $6.69 a share in 2016, compared to losses of $671 million in 2015, or 78 cents per share. It was the “sharpest and deepest industry decline in history”, said Dave Lesar, Halliburton Chairman and chief executive. In his 40 years in the business never had he seen such a rapid decline. A failed $28 billion merger with Houston-based oil field services firm Baker Hughes is to blame for such major losses. The event, which occurred back in May, cost Halliburton more than $4 billion dollars.
- 11 bizarre home remedies our grandparents used that actually work!
To this day my grandparents are still giving me bizarre treatments for minor injuries. Just the other week I took a tumble down the stairs, and my Grandma piped up, telling me to boil an egg and rub the extremely hot breakfast item all over my extremely swollen ankle. And you now what? It worked! The swelling went down within an hour, and I felt almost as good as new by the next morning. Thanks, Gran!
- New EU Energy Strategy To Create Up To 900,000 Jobs
On 30 November 2016, the European Commission officially released its “Clean Energy for All Europeans” package, also known as “Winter Package” i.e., moving the EU to meet its climate change target with numerous legislative proposals to reform the EU energy market. This legislation will have an important impact on the electricity market and the development of renewable-energy going forward. The European Commission wants the EU to be ahead on the global clean energy transition. For this reason the EU has committed to cut C02 emissions by at least 40 percent by 2030, while modernizing the EU’s economy, delivering jobs and growth for all European citizens. The legislative proposals include a new target for energy efficiency, achieving global leadership in renewable energies and proving a fair deal for consumers.
- China calls for integrated Asia-Pacific
China has responded to US President Donald Trump’s withdrawal from the Trans-Pacific Partnership (TPP) by reiterating its commitment to economic integration in the Asia-Pacific region. “China will forge ahead with the negotiation of the Regional Comprehensive Economic Partnership (RCEP) and the construction of the Free Trade Area of the Asia-Pacific (FTAAP) so as to add new impetus to regional and global economic development,” Foreign Ministry spokesperson Hua Chunying told reporters on Tuesday. On Monday, Trump followed through on a campaign promise he had been making for months and signed an executive order to withdraw from the TPP, which had been a cornerstone of Barack Obama’s policy to counter China’s growing global influence.
- The 2017 “Davos Consensus” – More Welfare And More Warfare
“It’s a big club and you ain’t in it!” I often think of these words, spoken by the great comedian George Carlin, when I read about the World Economic Forum meeting in Davos, Switzerland. Every year, global elites descend on Davos to discuss the big issues of the day in a Bilderberg-like conclave. This year, George Soros was there. So was Bill Gates. The most important world leaders go. As do CEOs of the world’s largest companies, mainstream media bigwigs, and prominent academics. Central bankers attend, too. In short, it’s a bunch of out-of-touch, self-anointed elites meeting to hand down from above their uniformly bad “solutions” to the world’s problems. Then they pat each other on the back for all the good they’re doing.
- These Are The Biggest Losers If Trade War Breaks Out Between The US And China
With China growing increasingly nervous about the prospect of a trade war with the US, the nation's official mouthpiece People's Daily warned that a trade war between China and the United States would harm both countries, reflecting concerns over Trump's stated protectionist, anti-China stance. “If a trade war developed between the two countries, both China and the U.S. would be negatively impacted,” the newspaper said in a commentary. “In the end neither side would win, it would bring harm to other countries and that harm would be brought to others without benefits to the U.S. or China.” As both China and the U.S. are major players in global supply chains and value chains, numerous countries would be gravely impacted from a trade war, the article added.
- Trump To Launch “Major Investigation Into Voter Fraud”
Having stunned the media with his Monday night announcement before members of Congress during a private reception that Trump only lost the popular vote due to vote fraud, the president refused to back down the next day, when on Tuesday the White House said Trump stands by his belief that millions of people voted illegally in the U.S. election. “The president does believe that,” White House spokesman Sean Spicer told reporters. The press secretary said the president had said “3 to 5 million people could have voted illegally, based on the studies that he's seen” although he did not quote the studies.
- The US dollar is now overvalued against almost every currency in the world
In September 1986, The Economist weekly newspaper published its first-ever “Big Mac Index”. It was a light-hearted way for the paper to gauge whether foreign currencies are over- or under-valued by comparing the prices of Big Macs around the world. In theory, the price of a Big Mac in Rio de Janeiro should be the same as a Big Mac in Cairo or Toronto. After all, no matter where in the world you buy one, a Big Mac generally consists of the same ingredients– two all beef patties, special sauce, etc.
- How To Predict The Behavior Of Globalists: “You Have To Go To Some Ugly Places In Your Own Mind”
In my last article, ‘How Globalists Predict Your Behavior’, I outlined the primary method globalists use to measure public consent, or, public dissent. The use of macro-analytics and the hyper-monitoring of web traffic is a powerful tool at the disposal of the establishment for gauging shifts in public consciousness in real time. For example, in early 2016 the elites were entirely aware of the rise of conservative and sovereignty movements in the U.S. and Europe. In fact, the dangers of growing “populism” were all that elitists and their publications talked about for the first six months of the year. At first, this notion seemed a little odd to me. Generally, when globalists are attempting to manage public opinion, they are careful not to reveal the slightest hint that conservative movements exist beyond an “extremist fringe”. They certainly never suggest that there is a massive undercurrent of nationalism ready to topple the globalist structure.
- If You Are Devastated At Trump Presidency “It Might Be A Sign That You Rely On Or Worship The State Just A Bit Too Much”
The inauguration is behind us now, but many – millions, it seems – are still immersed in fear, anguish, and grief over the reality of President Donald Trump. #NotMyPresident is still a very active hashtag on Twitter. People are already calling for impeachment, claiming Trump’s presidency is “illegitimate”. Celebrities (I refuse to mention them by name here and give them more attention) are still using their platforms to express anger, disappointment, and distress over the Trump presidency. Protests continue, and people are venting and ranting and arguing on social media.
- The Demise of the Left
On several occasions I have asked in my columns the rhetorical question: What became of the left? Today I answer my question. The answer is that the European and American left, which traditionally stood for the working class and peace (bread and peace) no longer exists. The cause championed by those who pretend to be the “left” of today is identity politics. The “left” no longer champions the working class, which the “left” dismisses as “Trump deplorables,” consisting of “racist, misogynist, homophobic, gun nuts.” Instead,the “left” champions alleged victimized and marginalized groups—blacks, homosexuals, women and the transgendered. Tranny bathrooms, a cause unlikely to mobilize many Americans, are more important to the “left” than the working class
- Theresa May: US and UK will no longer invade foreign countries ‘to remake the world in their own image’
Britain and the US will never again invade sovereign foreign countries “in an attempt to make the world in their own image,” Theresa May told Republican policymakers in Philadelphia. The Prime Minister vowed never to repeat the “failed policies of the past” in reference to Western military intervention in Iraq and Afghanistan, breaking from the “liberal intervention” principle established by Tony Blair. Referencing the “special relationship” between the UK and US, Ms May also stressed the importance of cooperation between the two countries to meet their “obligations of leadership” and “stand up for our interests”.
- Elites Eying The Exits Signals America's Crisis
The Institute for New Economic Thinking's President Rob Johnson was interviewed by the New Yorker on hedge-fund managers and the market for air strips in New Zealand… Interviewed as part of an extraordinary New Yorker investigation into growing anxiety among America’s corporate elite over the potential for anarchic social collapse, Institute President Robert Johnson saw his peers’ talk of bolt-holes in New Zealand as reflecting a deeper crisis. Johnson told writer Evan Osnos of the mounting anxiety he had encountered among hedge-fund managers and other wealthy Americans he knew.
- How Much Longer Can The Market Go Without A Correction
With the recent performance of the S&P, in which there has not been even a single 1% drawdown since the election, not only is complacency raging but some traders have forgotten what it even means to experience a modest 5% correction, let alone a 20% bear market. How much longer can this go on? For the answer, we turned to a recent report by InvesTech, according to which as the table below shows, a 5% correction has occurred about once every seven months in an ongoing bull market. Ignoring that the current bull market is already more than twice the average length of past bull markets with no 20% correction since the financial crisis, the frequency of corrections has been roughly in line with historical norms.
- The peso is tumbling after Mexico's president said he wouldn't meet with Trump
The peso was tumbling Thursday after Mexico's president, Enrique Peña Nieto, announced he had canceled a meeting scheduled for next week with President Donald Trump. The peso was down by 1.2% at 21.3175 per dollar as of 11:57 a.m. ET. The currency had been up by as much as 0.8% at 20.9358 per dollar at about 8:50 a.m. ET. “This morning we have informed the White House that I will not attend the meeting scheduled for next Tuesday with the @POTUS,” Peña Nieto tweeted, according to an online translation.
- Trump Orders Media Blackout At Government Agencies: Bans Use Of Social Media, Bars New EPA Contracts
It wasn't just the EPA. Earlier today, we reported that the Trump administration instituted a media blackout at the Environmental Protection Agency and barred staff from awarding any new contracts or grants. Emails sent to EPA staff since President Donald Trump's inauguration on Friday and reviewed by The Associated Press, detailed the specific prohibitions banning press releases, blog updates or posts to the agency's social media accounts. On Monday, the Huffington Post reported that EPA grants had been frozen, with agency employees barred from speaking of the matter.
- US State department's entire senior management team quits as Secretary Rex Tillerson takes up post
The entire senior level of management officials at the US State department has resigned – rather than serve under President Donald Trump. In the latest display of disquiet among civil servants in Washington over the new commander-in-chief, the four top senior officials at the equivalent of America's foreign ministry, announced they were standing down. The new Secretary of State, Rex Tillerson, was present in the department’s offices in the Foggy Bottom neighborhood of Washington DC, when the officials resigned on Wednesday, the Washington Post reported.
- Draghi Admits EU May Breakup For First Time
For the first time, the head of the European Central Bank, Mario Draghi, has conceded the possibility that the EU may fall apart. Draghi came out and said that any member leaving the Eurozone would need to settle its claims or debts with the bloc’s payments system before severing ties. This statement reveals the heated discussion at Davos and the rift that is beginning to spread. This statement, released on Friday, was made in a letter to two Italian lawmakers in the European Parliament. Sentiment in Italy is turning very anti-euro and this view is beginning to emerge in other Eurozone states. While they are blaming Britain, the real issue is the insane management of austerity and negative interest rates. This has created a massive depression in Europe and the unending Quantitative Easing has destroyed the European bond market. Whenever the ECB has to give up, interest rates will soar, for private buyers will not be willing to risk it all when the EU is clearly doomed.
- Alex Jones' InfoWars Offered White House Credentials
Things sure are changing in the White House press corps. According to a video posted on Wednesday, radio show host Alex Jones’s website Infowars, which has been accused of being “conspiracy theory and alt-right” by much of the established media, has been offered White House press credentials. In the clip Jones explains: “Here’s the deal, I know I get White House credentials, we’ve already been offered them, we’re going to get them, but I’ve just got to spend the money to send somebody there. I want to make sure it’s even worth it. I don’t want to just sit there up there like ‘m in the media, look our people are there.’ People don’t understand this paradigm, we’re devolving in a good way, power from the federal government back to the people, back from the centralized MSM to the people, just like Trump said in his speech.” On Monday, White House press secretary Sean Spicer said that four “Skype seats” would be made available to some journalists who are outside of a 50-mile radius of Washington, D.C.. It is not known when the Skype seats will be deployed during daily press briefings.
- Pastor Lindsey Williams introduces Pastor David Bowen – January 26, 2017
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.
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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 January 20, 2017 to January 26, 2017:
- Michael Snyder: 25 Things I Think That I Think About The Future Of America
Is there hope for the future of America? Following the election of Donald Trump, such a question often evokes some extremely strong emotions from people. And even more surprising, it can turn people that are supposedly on the same side viciously against one another. Because of what I do, I spend an enormous amount of time on the Internet, and it greatly saddens me when I see people that should be working together attacking each other instead. No matter what your perspective may be, and no matter how right you think you are, the truth is that this nation is not going to have any hope for the future unless we start to learn how to love one another.
- Brexit ruling: Supreme Court judges defy Government and empower Parliament
The Government will bring a Bill to Parliament to start the legal Brexit process “within days”, after the Supreme Court ruled against Theresa May's plans and decreed that MPs were entitled to vote on whether to trigger Article 50. Sources within the Conservative Party told The Independent legislation could be published by Friday and the initial stages potentially put to a vote by Tuesday or Wednesday next week. Brexit Secretary Mr Davis told the Commons: “I can announce today that we will shortly introduce legislation allowing the Government to move ahead with invoking Article 50, which starts the formal process of withdrawing the European Union.”
- Employment Boom: 10 Companies That Have Promised To Add Jobs In The United States Since Trump Was Elected
One of the primary things that Trump’s presidency will be judged upon is his ability to encourage the creation of good paying jobs for American workers, and so far the results have been quite promising. Since Trump’s surprise election victory in November, a whole bunch of companies have either promised to bring jobs back into the country or have pledged to create new ones. Ultimately time will tell if those jobs actually materialize, but for the moment there is a tremendous amount of optimism in the air. In fact, I don’t know if we have ever seen anything quite like this at the beginning of a new presidency. The following are 10 companies that have promised to add jobs in the United States since the election of Donald Trump…
- CDC cancels upcoming climate conference, won't say why
The Centers for Disease Control and Prevention (CDC) has canceled a conference on climate change that was scheduled to be held next month in Atlanta, Ga. The government's top public health agency gave no official reason for the cancellation, but some involved with the conference have suggested that the cancellation may be an attempt to avoid political friction with President Trump's new administration. While there is a consensus among most scientists that humans have a leading role in climate change, Mr. Trump has called the phenomenon a hoax on more than one occasion.
- Foreigners Are Dumping U.S. Debt At A Record Pace And Our $20 Trillion National Debt Is Poised To Become A Major Crisis
While most of the country has been focused on the inauguration of Donald Trump, a very real crisis has been brewing behind the scenes. Foreigners are dumping U.S. debt at a faster rate than we have ever seen before, and U.S. Treasury yields have been rising. This is potentially a massive problem, because our entire debt-fueled standard of living is dependent on foreigners lending us gigantic mountains of money at ultra-low interest rates. If the average rate of interest on U.S. government debt just got back to 5 percent, which would still be below the long-term average, we would be paying out about a trillion dollars a year just in interest on the national debt. If foreigners keep dumping our debt and if Treasury yields keep climbing, a major financial implosion of historic proportions is absolutely guaranteed within the next four years.
- RIP TPP: ‘Obama kept Americans in dark on major trade deal'
We don’t know a lot about it, but Obama pushed it as “the most progressive trade deal in US history,” publisher of Trends Journal Gerald Celente told RT. RT America's Ed Shultz, and Jack Rasmus, Professor of Political Economy, also provided comments. US President Donald Trump has signed an executive order to withdraw from the Trans-Pacific Partnership trade deal. TPP is a free trade agreement between America and the Asia Pacific region. It was due to cover 800 million people and encompass 40 percent of the global economy. However, the proposed agreement, much of which was negotiated in secret behind closed doors, was met with tremendous public resistance in several countries.
- Clinton Charity is Massive Global Swamp
Wall Street financial analyst Charles Ortel has applied the same research skills he does to see if a company has sound solvent accounting to the Clinton charity machine. Ortel has called the Clintons the “Bonnie and Clyde” of charity fraud. What does Ortel say now that the Clintons are shutting down there so-called global charity? Ortel contends, “The Clinton Global Initiative (CGI) was a fraud from the very beginning. It started in September of 2005 as an interesting idea that you would convene around the time of the U.N. General Assembly in New York. You would convene world leaders, former government officials, investors, corporate officers and members of the media in closed sessions where you would talk about high sounding topics, and noble people would stand up on stage and say how much good they were going to do under the guise of charity. The trouble with that is . . . the CGI was an activity so distinct and so different than the main authorized activity of being a library and being a presidential archive based in Little Rock that it should have sought approval from the IRS . . . and it never did that.”
- Keystone XL Still Faces Obstacles Even With Trump’s Approval
President Donald Trump moved to fulfill one of his campaign promises on Tuesday, signing an executive order to revive the Keystone XL and Dakota Access Pipelines. The former had been rejected outright by the Obama administration while the latter had been given an indefinite delay. The industry hailed the executive order, but just because President Trump wants to see the pipeline built does not mean TransCanada will move to break ground anytime soon. There are a number of uncertainties that could prevent construction from progressing.
- Why Trump Will Be Blamed For Coming Economic Collapse!
Long before Wikileaks let the cat out of the bag about the level of corruption and the amount of collusion between the highest levels of the mainstream media and the Democrat party, earlier in the year a poll revealed that only six percent of Americans said they had “a great deal of confidence” in the mainstream media. What percentage have confidence now? Zero? After the election, the mainstream media had a choice to make. They could either recognize that the American people were tired of being lied to by both a dishonest media and corrupt Washington politicians, or they could double down on their lies and deceit. Sadly, they chose the latter.
- Henry Kissinger advice to President Trump – Davos 2017 – A Conversation with Henry Kissinger on the World in 2017.
Henry Kissinger advice to President Trump – Davos 2017 – A Conversation with Henry Kissinger on the World in 2017.
- Trump Signs Executive Orders To “Begin Immediate Construction Of Border Wall”, Immigration Enforcement
President Trump on Wednesday signed directives to build a wall along the U.S. border with Mexico and crack down on U.S. cities that shield illegal immigrants, proceeding quickly on sweeping and divisive plans to curb immigration and boost national security. As Reuters summarized, the Republican president is also expected to take steps in the coming days to limit legal immigration, including executive orders restricting refugees and blocking the issuing of visas to people from several Muslim-majority Middle Eastern and North African countries including Syria, Sudan, Somalia, Iraq, Iran, Libya and Yemen.
- Bill introduced to remove US from United Nations
A proposed House Resolution would set the stage for the United States to remove itself from the United Nations. The proposed “American Sovereignty Restoration Act of 2017” is sponsored by Rep. Mike Rogers (R-AL). It was introduced in the House on Jan. 3 and referred to the House Committee on Foreign Affairs, according to the Congress website. The bill proposes that the United States terminate its membership in the UN, that the UN removes its headquarters from the US, and that the US stops participating in the World Health Organization. Should it pass, the act would take effect two years after it is signed.
- China’s Newest Problem With Fakes Threatens Bond Market Pain
Forged seals, fake letters, and counterfeit documents. They’re all part of China’s recent spate of fraud coming to light in the country’s $3 trillion corporate debt market amid a rout that has analysts predicting a record number of defaults in 2017. As it becomes harder for Chinese companies to issue new notes to repay maturing debt, expect more scandals to come — and to worsen the bond market’s already-precipitous downturn.
- Trump Formally Invokes U.S. WITHDRAWAL from the Trans-Pacific Partnership – Then Declares Re-Negotiation of NAFTA!
Less than one day after being sworn-in as President, Donald Trump has formally invoked the withdrawal by the United States from the Trans-Pacific Partnership (TPP) and has also formally invoked Renegotiation of the North American Free Trade Agreement (NAFTA). The Trans-Pacific Partnership is a trade pact championed by former President Barack Obama and Japanese Prime Minister Shinzo Abe.
- Hours After The Inauguration, The Surprising Truth About Mike Pence Is Exposed
It’s fair to say that until recently, most Americans had never heard of “Mike Pence.” But ironically, this relatively unknown man will soon take the second-highest office in the country. Today he’s mostly known for being President-Elect Donald Trump’s sidekick, but truth be told, there’s a side of Mike Pence that many haven’t seen. When I learned more about Mike Pence, my respect and admiration for America’s Vice President-Elect only grew all the more.
- Dow Jones finishes above 20,000 milestone for first time
Wall Street stock markets hit a fresh record on Wednesday, with the Dow Jones Industrial Average ending above 20,000 points for the first time. The S&P 500 and tech-heavy Nasdaq also achieved new highs, fuelled by hopes that President Donald Trump's policies will boost the US economy. The Dow, which has nudged the 20,000 milestone during January, rose 0.8% to 20,068.51. Investors' cash has poured into shares on hopes of tax cuts and higher growth.
- Donald Trump's entire CIA speech
President Donald Trump gave remarks at CIA headquarters a day after being sworn-in as the 45th president.
- As Its Housing Bubble Pops, Chinese Real Estate Firms Halt Monthly Pricing Data
That didn't take long. Earlier this week we reported that after 19 straight months of continued acceleration in home prices, China's latest housing bubble may have finally burst (again) after December prices in the 70 cities tracked by the NBS, rose by 12.7%, below the 12.9% annual growth rate in the previous month – the first annual decline in nearly 2 years.
- Asian Media Warns Of Conflict, Economic Turmoil Under “Trump World Order”
Following German media's outcry that “the demons have been unchained”, Asian media decried President Trump's isolationist policies, fearing they will chill the global economy and sow widespread international discord, as “the reality show has become reality,” warning the world was now in “unpredictable territory… spreading unease, division, and conflict throughout the world.” While perhaps not as entirely hysterical as German media's ‘opinion'…
- Billionaire George Soros has ties to more than 50 ‘partners’ of the Women’s March on Washington
In the pre-dawn darkness of today’s presidential inauguration day, I faced a choice, as a lifelong liberal feminist who voted for Donald Trump for president: lace up my pink Nike sneakers to step forward and take the DC Metro into the nation’s capital for the inauguration of America’s new president, or wait and go tomorrow to the after-party, dubbed the “Women’s March on Washington”? The Guardian has touted the “Women’s March on Washington” as a “spontaneous” action for women’s rights. Another liberal media outlet, Vox, talks about the “huge, spontaneous groundswell” behind the march. On its website, organizers of the march are promoting their work as “a grassroots effort” with “independent” organizers. Even my local yoga studio, Beloved Yoga, is renting a bus and offering seats for $35. The march’s manifesto says magnificently, “The Rise of the Woman = The Rise of the Nation.”
- Trump Fires Up Europe's Anti-Establishment Movement
Inspired by the inauguration of U.S. President Donald J. Trump, the leaders of Europe's main anti-establishment parties have held a pan-European rally aimed at coordinating a political strategy to mobilize potentially millions of disillusioned voters in upcoming elections in Germany, the Netherlands and France. Appearing together in public for the first time, Marine Le Pen, leader of the French National Front, Frauke Petry, leader of the Alternative for Germany (AfD), Geert Wilders, leader of the Dutch Party for Freedom (PVV), Matteo Salvini, leader of Italy's Northern League and Harald Vilimsky of Austria's Freedom Party gathered on January 21 at a rally in Koblenz, Germany, where they called on European voters to participate in a “patriotic spring” to topple the European Union, reassert national sovereignty and secure national borders.
- Trump may not enforce individual health insurance mandate: aide
The Trump administration may no longer enforce a rule requiring individual Americans to carry health insurance or pay a penalty if they do not, a senior White House official said on Sunday Speaking on ABC's “This Week” program, Kellyanne Conway, counselor to the president, said President Donald Trump “may stop enforcing the individual mandate.” Separately, on CBS' “Face the Nation” show, she reiterated Republican promises that no one would lose their health insurance under Obamacare while a replacement is being developed. “For the 20 million who rely upon the Affordable Care Act in some form, they will not be without coverage during this transition time,” she said.
- The Collapse Of The Left's Great Con
The Left is not just in disarray- – it is in complete collapse because the working class has awakened to the Left's betrayal and abandonment of the working class in favor of building personal wealth and power. The source of the angry angst rippling through the Democratic Party's progressive camp is not President Trump–it's the complete collapse of the Left globally. To understand this collapse, we turn (once again) to Marx's profound understanding of the state and capitalism. We turn not to the cultural Marxism that is passingly familiar to Americans, but to Marx's core economic analysis, which as Sartre noted, is only taught to discredit it.
- Hawaiians call Mark Zuckerberg ‘the face of neocolonialism' over land lawsuits
A few days after Christmas, Mark Zuckerberg shared a series of photographs of his family at their $100m, 700-acre property in Kauai. The Facebook CEO and his wife “fell in love with the community and the cloudy green mountains”, he wrote, and decided to “plant roots and join the community ourselves”. Two days later, Zuckerberg’s lawyers filed lawsuits against hundreds of Hawaiians who may own an interest in small parcels within the boundaries of Zuckerberg’s estate. The “quiet title” suits, first reported by the Honolulu Star-Advertiser, are used to clarify the often complicated history of land ownership in Hawaii and can result in owners being forced to sell their land at auction. In some cases, defendants are even required to pay the legal fees of the plaintiff – in this case, the world’s fifth richest man.
- Anti-Vaxxer Biologist Stefan Lanka Bets Over $100K Measles Isn’t A Virus; He Wins In German Federal Supreme Court
By prophylactic vaccination of adults and especially children against measles, the pharmaceutical industry has earned Billions over a 40-year period. The judges at the German Federal Supreme Court (BGH) confirmed in a recent ruling that measles virus do not exist though. Furthermore: There is not a single scientific study in the world which could prove the existence of such virus so far. This raises the question of what was actually injected into millions of German citizens over the past decades. According to the judgment by the Supreme Court, it may not have been a vaccine against measles.
- It's Official: Clinton's Popular Vote Win Came Entirely From California
Democrats who are having trouble getting out of the first stage of grief — denial — aren't being helped by the fact that, now that all the votes are counted, Hillary Clinton's lead in the popular vote has topped 2.8 million, giving her a 48% share of the vote compared with Trumps 46%. To those unschooled in how the United States selects presidents, this seems totally unfair. But look more closely at the numbers and you see that Clinton's advantage all but disappears. As we noted in this space earlier, while Clinton's overall margin looks large and impressive, it is due to Clinton's huge margin of victory in one state — California — where she got a whopping 4.3 million more votes than Trump.
- Is the EU's TTIP now under threat? Donald Trump scraps controversial TPP trade deal
DONALD Trump has withdrawn the USA from the controversial Trans-Pacific Partnership (TPP) agreement just days after coming into power – leaving Eurocrats fearing TTIP could be next. In an Oval Office ceremony, Mr Trump called the order a “great thing for the American worker.” The move will now raise fears in Brussels the TTIP deal, promoting cross-Atlantic trade with the EU, could also be under threat. The TPP agreement was a huge part of former president Barack Obama’s eight-year term, with the long-negotiated deal covering 40 per cent of the world economy.
- Trump withdraws from Trans-Pacific Partnership amid flurry of orders
Donald Trump has begun his effort to dismantle Barack Obama’s legacy, formally scrapping a flagship trade deal with 11 countries in the Pacific rim. The new president also signed executive orders to ban funding for international groups that provide abortions, and placing a hiring freeze on non-military federal workers. Trump’s decision not to join the Trans-Pacific Partnership (TPP) came as little surprise. During his election campaign he railed against international trade deals, blaming them for job losses and focusing anger in the industrial heartland. Obama had argued that this deal would provide an effective counterweight to China in the region.
- Trump plan calls for nationwide concealed carry and an end to gun bans
Republican presidential frontrunner Donald Trump — who said he has a concealed carry permit — called for the expansion of gun rights Friday, including making those permits applicable nationwide. In a position paper published on his website Friday afternoon, Trump called for the elimination of gun and magazine bans, labeling them a “total failure.” “Law-abiding people should be allowed to own the firearm of their choice. The government has no business dictating what types of firearms good, honest people are allowed to own,” Trump wrote.
- Trump And A New Gold-Backed Dollar
On August 15, 1971, President Nixon killed the last remnants of the gold standard. Since then, the dollar has been a pure fiat currency, allowing the Fed to print as many dollars as it pleases. Removing the US dollar’s last link to gold eliminated the main motivation for foreign countries to store large dollar reserves and to use the dollar for international trade. At this point, demand for dollars was set to fall… along with the dollar’s purchasing power. So the US government concocted a new arrangement to give foreign countries another compelling reason to hold and use the dollar.
- Pope warns against Hitler-like leaders coming to power on wave of populism
Pope Francis warned against populist leaders, saying that Germany came to elect one in 1933, and ended up with Adolf Hitler as its dictator. “Crises provoke fear, alarm. In my opinion, the most common example of European populism is Germany in 1933… A people that was immersed in a crisis, that looked for its identity until this charismatic leader came and promised to give their identity back, and he gave them a distorted identity, and we all know what happened,” he said in an interview with the Spanish newspaper El Pais. “Hitler did not steal power,” the Pope said. “He was elected by his people and then he destroyed his people.”
- Minimum Wage Hikes Will Help Amazon Kill Millions Of Traditional Sales Jobs Sooner Than Later
In a few years, local communities in America will be totally different places. There will be very few iconic retail chain stores, or sales people behind counters and on the shopping floor. Automated Amazon Go stores and remote warehouses will replace most local retail stores, killing millions of sales jobs, and bring further losses to investors in these icons. And making this transformation happen sooner rather than later? Minimum wage hikes. For years, American retail icons like Macy’s, JCP, and Wal-Mart colored the lives of local communities, providing sales jobs for millions of people. Then came on-line retailer Amazon to crush these icons, as evidenced by their sluggish sales, falling margins, and equity price performance.
- Canadian Urban Farmer Grows 50,000 Lbs Of Food On Less Than 1 Acre Of Land
“What if I told you that there was a way you could live off the land, farm commercially, be a direct solution to food security, economic inequality, and environmental degradation, build community ties and social capital, and make a living out of it?”, says urban farmer Curtis Stone, CEO of Green City Acres. Green City Acres grows vegetables on donated plots of land throughout Kelowna, B.C., and transports them to consumers using only bicycles and custom-built trailers. In 2012, they grew over 50,000 lbs of food on less than 1 acre of land, using organic methods and only 80 litres of gasoline (used to run a rototiller).
- A Major Prophetic Sign Appeared The Moment Donald Trump Stepped To The Inauguration Platform
It was one of those magical moments that you will never forget. The inauguration of Donald Trump was being watched live by tens of millions of people all over the world, and it was at that precise moment that God gave all of us another little reminder that He is in control. It had not been raining prior to the time that Trump stepped up to the Inauguration platform, but when he did, the rain began to fall. Considering everything else that was going on at the time, it would have been really easy to miss that little detail, but fortunately there was someone there that perfectly understood what was happening.
- The Rise Of Satanism
Interest in Satan and Satanism has experienced a tremendous resurgence in recent years. At one time, Satanists were generally feared and shunned by society, but now Satanism is steadily being accepted into mainstream culture. Up until recently, the Church of Satan that was founded by Anton LaVey in 1966 was the most prominent Satanic organization in the world, but now it is rapidly being overtaken by a relatively new group known as the Satanic Temple. It is headquartered in Salem, Massachusetts and was founded in 2013 to combat the influence of evangelical Christianity in politics. It has grown explosively over the past several years, and at this point the organization’s leadership claims that it has a global membership of somewhere around 100,000.
- It’s Finally Morning Again In America, And A New Day For Our Country Starts NOW
For the first time in decades, it feels like morning in America again. I was quite young when Ronald Reagan was president, and I only have vague memories from those days. But I do remember the extraordinary optimism that his leadership inspired, and my hope is that Donald Trump’s leadership will be just as inspirational. For such a very long time, it has seemed as though a giant dark cloud has been hanging over America, but now a new day is starting. If Donald Trump can be president of the United States, it seems like just about anything can be possible. And even though our nation is facing incredibly serious challenges, could it be possible that we can find a way to turn things around if we all work together?
- The End Of The Obama World Order
For the past eight years, Barack Obama has been using the power of the U.S. presidency to impose his vision of a progressive world order on the entire globe. As a result, much of the planet will greatly celebrate once the Obama era officially ends on Friday. The Obama years brought us the Arab Spring, Benghazi, ISIS, civil war in Syria, civil war in Ukraine and the Iran nuclear deal. On the home front, we have had to deal with Obamacare, “Fast and Furious”, IRS targeting of conservative groups, Solyndra, the VA scandal, NSA spying and the worst “economic recovery” since the end of World War II. And right at the end of his presidency, Barack Obama has committed the greatest betrayal of Israel in U.S. history and has brought us dangerously close to war with Russia. So is the end of the Obama world order worth celebrating? You better believe it is.
- The changes Donald Trump has already made since he was sworn in as President
President Donald Trump promised a lot would happen on “day one” during his election campaign – although he later clarified he meant on his first Monday in office, rather than today. Apparently keen to get down to business, the billionaire tycoon went to the Oval Office immediately after yesterday’s swearing-in ceremony but before the inauguration ball. The first order he signed related to Obamacare – which he has pledged to repeal. The President signed an order to federal departments to “minimise the economic impact” of the Affordable Care Act, which grants health insurance to all Americans.
- What Trump Could Do
Today Donald Trump becomes the 45th president of the United States. American voters rejected the devil they know so well — Hillary Clinton — for the devil they don’t. Why they did so, and how Trump prevailed, is the biggest political story of our age. But the rejection of progressive hubris, what Friedrich Hayek called the “fatal conceit” of those who would presume to plan our lives, is at the heart of that story. The Left views Trump’s election as an absolute calamity, despite his support for unions and protectionist trade policies, despite his identity as a New York elite rather than some despised red state politician, and despite his ambivalence toward the social issues that animate Christian conservatives. One would think Democrats would be relieved not to suffer an ideologue like Santorum or Cruz in the White House. Yet their hysteria and lack of self-awareness prompt them to attack the Electoral College, of all things.
- How Deutsche Bank Made a $462 Million Loss Disappear
On Dec. 1, 2008, most of the world’s banks were still panicking through the financial crisis. Lehman Brothers had collapsed. Merrill Lynch had been sold. Citigroup and others had required multibillion-dollar bailouts to survive. But not every institution appeared to be in free fall. That afternoon, at the London outpost of Deutsche Bank, the stolid-seeming, €2 trillion German powerhouse, a group of financiers met to consider a proposal from a team led by a trim, 40-year-old banker named Michele Faissola. The scion of an Italian banking family, Faissola was the head of Deutsche’s global rates unit, a division that created and sold financial instruments tied to interest rates. He’d been studying the problems of one of Deutsche’s clients, Italy’s Banca Monte dei Paschi di Siena, which, as the crisis raged, was down €367 million ($462 million at the time) on a single investment. Losing that much money was bad; having to include it in the bank’s yearend report to the public, as required by Italian law, was arguably much worse. Monte dei Paschi was the world’s oldest bank. It had been operating since 1472, not long after the invention of the printing press, when the Black Death was still a living memory. If investors were to find out the extent of its losses in the 2008 credit crisis, the consequences would be unpredictable and grave: a run on the bank, a government takeover, or worse. At the Deutsche meeting, Faissola’s team said it had come up with a miraculous solution: a new trade that would make Paschi’s loss disappear.
- Biden Announces 2020 Presidential Run: “We Have No Freakin' Idea What Trump's Gonna Do”
In the sappiest of sappy interviews, outgoing vice president Joe Biden looks back, and forward. ‘I Wish to Hell I’d Just Kept Saying the Exact Same Thing’ says Biden in a New York Times interview. The title is cryptic but it pertains to a speech Biden gave in July that he wishes he repeated more often instead of attacking Trump.
- China Housing Bubble Finally Pops: First Slowdown After 19 Months Of Acceleration
After several months of slowing price growth across China's housing market, if mostly in the lower-tiered cities, China's National Bureau of Statistics reported that average mothly property prices growth in December continued to slow from November across the 70 cities tracked by the NBS, and this time impacted even the formerly untouchable, “Tier 1” cities. Housing prices in the primary market increased 0.4% month-over-month after seasonal adjustment (weighted by population) in December, lower than the growth rate in November. Out of 70 cities monitored, 61 saw housing prices increase in December from the previous month, the same number as November.
- China Central Bank Injects A Record 1.035 Trillion In Bank Liquidity This Week
Heading into the Chinese Lunar New Year, local banks are suddenly starved for liquidity like never before. On Tuesday China’s benchmark money-market rate jumped the most in two years, with unprecedented cash injections by the central bank being overwhelmed by demand before the Lunar New Year holidays. Demand for cash in China tends to increase before the Lunar New Year holidays, when households withdraw money to pay for gifts and get-togethers. Month-end corporate tax payments are adding to the pressure this time, with the break running from Jan. 27 through Feb. 2. At that point the PBOC usually steps in with liquidity “injections” in the form of reverse repos. However, what it has done this year is literally off the charts.
- Chinese Province Admits It Fabricated Economic Data For Three Years
While it will hardly come as a surprise to China watchers who have for years mocked China's cooked “data”, overnight the state-run People's Daily reported that the severely impacted by the commodity crunch of the past 2 years rust-belt province of Liaoning fabricated fiscal numbers from 2011 to 2014, raising fresh doubts about the accuracy of China’s economic data just two days ahead of the release of China's GDP report. City and county governments in the northwestern region committed fiscal data fraud in the period, Governor Chen Qiufa said at a meeting with provincial lawmakers Tuesday, Bloomberg adds. Not surprisingly, the fabricated economic data was meant to show a state of economic strenght with fiscal revenues inflated by at least 20%, and some other economic data were also false, the paper said, without specifying categories.
- Oxfam's Hypocrisy on Private Wealth
Earlier this week, the Oxfam organization published a “report” about global inequality. It’s not really a report, since most of it consists of babble-economics with little empirical foundation, and the hard data that it includes comes from an external source: the Credit Suisse Report. In any case, this data indicates that there is a lot of poverty in the world, whereas in some other places there is relatively much more wealth. This has led to loudly shouted statements in the media of how 8 people in the world have more wealth than half of the world population combined.
- Inequality Doesn't Create Poverty
Oxfam, the leftwing NGO devoted to poverty relief has released a new report blaming poverty in wealth inequality. In other words, its central claim is that the existence of very wealthy people creates poverty. The report is largely just an extended op-ed that asserts that the existence of some very wealthy people is the cause of poverty in the world. Notable buzzwords and phrases include “trickle down,” “obscene levels of inequality,” and “neoliberalism.” The “solution” to the alleged problem, which should surprise no one, is a list of taxes that should be either introduced or raised significantly, including higher income taxes, “a tax on financial transactions,” a “global wealth tax,” and a so-called “anonymous wealth tax.”
- Chinese foreign investments hit record high in 2016
China’s foreign direct investments last year hit a record $189 billion dollars, a report released this week showed. According to the study done by the German Mercatur Institute for China Studies (MERICS) and Rhodium Group, China’s investments abroad rose an overall 40 per cent, with money going to the European Union amounting to $37.1 billion – 77 per cent more than in 2015. Chinese investors looked to pour funds towards acquiring advanced manufacturing equipment and technology.
- Trump Deficits Will Be Huge
There is much we don't know about how the Trump presidency will play out. Will the Wall get built? Who will pay for it? Will it have at least some fencing? Will repeal and replace happen at exactly the same time? Will Trump throw a ceremonial switch? Will there be a Trump National Golf Course in Sochi? It's anyone's guess. But of one thing we can be fairly certain. President Trump is very likely to preside over the largest expansion of Federal budget deficits in our history. Trump has built his companies with debt and I'm sure he thinks he can do the same with the country. His annual budget deficits are likely going to be huge. This development will make a greater impact on the investment landscape than most on Wall Street can imagine. In the past half-century, Republican presidents have been the going away winners at the deficit derby, a fact that should make any true conservative blush. The sad truth is that annual deficits exploded under Ronald Reagan and George W. Bush, and generally contracted under Bill Clinton and Barack Obama. Some of the explanation is just luck of the draw, some walked into office in the midst of recessions they didn't create. But the better part of the explanation is baked into the political dynamics.
- Pension Funds Need Gold before It’s Too Late
Tens of millions of Americans and their employers pour money into pension plans each month, counting on those funds to grow and to be there when needed at retirement. But a time bomb awaits. The bulk of U.S. pension funds are dangerously underfunded, and the assets are often invested in securities that have bleak prospects for providing income that keeps up with a general decline in purchasing power. A pension plan requires an employer to make contributions into a pool of funds set aside for a worker’s future benefit. In 1875, when the American Express Company established the first private pension plan in the United States, the face of retirement was fundamentally changed. Before that time, private-sector pension plans did not exist, as most employers were small “mom-and-pop” businesses.
- US Financial Markets – Alarm Bells are Ringing
When discussing the outlook for so-called “risk assets”, i.e., mainly stocks and corporate bonds (particularly low-grade bonds) and their counterparts on the “safe haven” end of the spectrum (such as gold and government bonds with strong ratings), one has to consider different time frames and the indicators applicable to these time frames. Since Donald Trump’s election victory, there have been sizable moves in stocks, gold and treasury bonds, as the election result has strongly boosted certain market expectations.
- Red Flags Over Goldman Sachs
Just to prove that I am an even-handed insulter, here is a rant about my former employer, Goldman Sachs. The scandal at 1MDB, the Malaysian sovereign wealth fund from which it appears that billions were stolen by politicians all the way up to the Prime Minister, continues to unfold.
- Xi: Global growth requires cooperation, joint governance
Don’t pursue your own interests at the expense of others, Chinese President Xi Jinping told world leaders and delegates at the Davos World Economic Forum on Tuesday in staunch support of multilateralism and globalization. Xi’s participation at Davos is the first such visit by a Chinese head of state. The Chinese president emphasized that globalization should not be blamed for the lackluster performance of the global economy.
- Hope That Trump Will Be the Peace President That Obama Was Not
With Donald Trump set to become president tomorrow, many proponents of the US government refraining from intervening in other countries have their fingers crossed, hoping that a Trump administration will bring an improved US foreign policy. In particular, there is hope that Trump’s statements that he wants the US and Russia to have friendlier relations will mean the Trump administration will work to reverse the much increased tensions of the last few years between the nations — tensions characterized by harsh words, sanctions, and military deployments.
- Gerald Celente – Even Trump Said This Grand Experiment Will End Badly
Today the top trends forecaster in the world spoke with King World News about 2017 and why even Trump said the Grand Experiment will end badly. Eric King: “Gerald, you are keenly aware of the massive debt levels and the market bubbles, how do you square that with a positive future for the United States going forward when we are in the midst of the greatest monetary experiment in history that you and I both know is destined to end badly?” Gerald Celente: “Even Trump said it would end badly. He kept saying that during his campaign. And there may be a sharp downturn in the stock market. There’s no question about it. However, when you look at what’s going on in the rest of the world, the United States is in much better shape. But we are talking about a global slowdown. So just because the United States may do better, that doesn’t mean the rest of the world will.
- Obama's Wasted, Deadly, and Destructive Presidency
Eight years ago, President Obama’s administration started with hope and change. Eight years later, we end up with a legacy of nothing but waste, death, and destruction. Libertarians never had any hope, of course, that Barack Obama would dismantle any aspect of the welfare state. As a died-in-the-wool liberal, his commitment to socialism, regulation, and economic interventionism is unwavering. When, for example, he addressed the healthcare crisis brought on my Medicare, Medicaid, regulation, and interventionism by foisting Obamacare onto the American people, we libertarians were not surprised. Where libertarians (and lots of liberals) had hope was that Obama would change the direction that the George W. Bush administration had set for America with respect to foreign policy and civil liberties.
- Dimon Says Euro Zone May Not Survive If Concerns Are Ignored
The euro region could break up if political leaders don’t get to grips with the discontent that’s spurring support for populist leaders across the continent, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said. Dimon said he had hoped European Union leaders would examine what caused the U.K. to vote to leave and then make changes. That hasn’t happened, and if nationalist politicians including France’s Marine Le Pen rise to power in elections across the region “the euro zone may not survive,” Dimon, 60, said in a Bloomberg Television interview with John Micklethwait.
- Physical Will Trump Paper Gold
Gold rose 8.5% for the year while gold-mining stocks (XAU – Philadelphia Gold and Silver Index stocks) rose 75%. On an annual basis, results were highly satisfactory. However, there was considerable drama beneath the surface that left precious metals investors in a state of anxiety by year-end. Precious metals and mining shares rose sharply through August, and then spent the rest of the year giving back much of the first-half gains. The second half downtrend accelerated into early December, following the unexpected victory by Trump and a hawkish statement after the December Federal Open Market Committee (FOMC) meeting.
- Keiser Report: Health Care Plan for Trump Voters
We discuss the health care plan that Trump voters really want… and it’s not the one the Republicans in Congress plan on delivering. In the second half, Max interviews Obi Egbuna, the first US Correspondent to the Herald – Zimbabwe’s National Newspaper – and Co- Executive Producer of the BattleCry For Cuba and Zimbabwe. They discuss the embargo on Cuba and the sanctions on Zimbabwe and why he’s calling for a complete end to them.
- Here's how much debt the US government added under President Obama
As part of the broader economic legacy of President Barack Obama, from jobs to the stock market, one of the most notable changes has been the increase in the national debt. Based on quarterly data released by the US Treasury, the debt at the end of 2008 — just before Obama took office — stood at roughly $10,699,805,000,000. As of the third quarter of 2016, the most recent data available, the debt as Obama is set to leave office stood at $19,573,445,000,000. Based on the website USdebtclock.com, which extrapolates the US national debt in real time based on committed government spending, the debt will be roughly $19.97 trillion when President-elect Donald Trump takes office on Friday.
- Will Our Grandchildren Wonder Why We Didn’t Build a Renewable Power Grid When It Was Still Affordable?
Anyone seeking clarity on the energy picture a decade or two out is to be forgiven for finding a thoroughly confusing divide. On the one hand, we have reassuring projections from the U.S. Energy Information Administration (EIA) that assume current production of fossil fuels will remain steady for decades to come. Coal will continue to decline as a share of total energy consumption, and renewables will rise modestly. In other words, everything’s hunky-dory, there’s nothing to worry about.
- Donald Trump’s full inauguration speech transcript, annotated
The president of the United States is now Donald Trump, who just took the oath of office and, shortly thereafter, delivered his inaugural address.
- Donald Trump’s inaugural address: Full text as prepared for delivery
Chief Justice Roberts, President Carter, President Clinton, President Bush, President Obama, fellow Americans, and people of the world: thank you. We, the citizens of America, are now joined in a great national effort to rebuild our country and to restore its promise for all of our people. Together, we will determine the course of America and the world for years to come. We will face challenges. We will confront hardships. But we will get the job done. Every four years, we gather on these steps to carry out the orderly and peaceful transfer of power, and we are grateful to President Obama and First Lady Michelle Obama for their gracious aid throughout this transition. They have been magnificent.
- Donald Trump Inauguration: A Day of Ceremony, Protests and Celebration
President Trump’s era on the government web began almost immediately with the wiping out of Obama-era initiatives and a new brand of policy pronouncement. But two sides can play that game. As Mr. Trump dined with dignitaries and members of Congress in the Capitol, the police skirmished with protesters, hurling flash-bang grenades to drive them from the inauguration parade route. Hillary Clinton, who won the popular vote by nearly three million but lost the presidency, was on hand for her former rival’s swearing-in at the Capitol.
- Stock Market Genius Gives Market Predictions For 2017
How should people know they cannot trust the U.S. mainstream media when it comes to giving accurate information about the dire state of the U.S. economy? For starters, look at how dishonest the media was while covering the U.S. presidential election, and everything having to do with politics since. Next, consider the fact that one of nation’s highest end retailers, Nordstrom’s, sold out nationally this past Christmas on one of their red hot new items: An $85 Pet Rock that came with matching leather pants. Americans were so clueless about the actual state of the economy, they caused a national retailer to sell out of “pet rocks.” Is there any better way to demonstrate a total lack of valuable information?
- End of 2017 Gold Up & Dollar Down
Best-selling author Nomi Prins says two of the big wild cards are Donald Trump and Europe. Prins explains, “The biggest wild card is a combination. Trump is a wild card, but so is Europe. Right now, the political lens goes over to Europe. It’s caught between its old and potentially new structure and potential new political leadership. I think that is a major wild card now. That snakes through Russia, and that snakes through Eurasia relationships, and that relates back to Trump. The wild card is the linkages among those things.” Prins, who is a former top Wall Street banker, also thinks it’s hard to define the bad guys and the good guys. Prins contends, “From an economic standpoint, everyone has side deals. So, there is no positive or negative economy. . . . All countries do good things, and all countries do bad things. What is happening right now is all of the alignments between countries have been changing. . . . The reality is there are going to be a lot of things renegotiated, and it’s not just Trump and the U.S. doing the renegotiating. All the other countries are negotiating as well. If there is enough antagonism with how Trump is going to renegotiate those agreements . . . that could limit trade into the U.S., and that could limit our bargaining power. . . . That is all in flux this year.”
- Theresa May To Call For “Clean And Hard Brexit” As UK Warns Of “Market Correction”
While the track record of the Sunday Times over the past 24 hours is somewhat spotty, following a report that as his foreign trip abroad once officially president, Trump is planning a summit with Putin in Reykjavik, which in turn was promptly denied by Trump staffers who called the story “fantasy”, overnight the paper also reported that UK Prime Minister Theresa May will announce that Britain is “seeking a clean and hard Brexit” in a speech this week that will promise to create a “strong new partnership” with the European Union. The paper further notes that in the speech, scheduled for Tuesday, the PM will “finally lay her cards on the table”, making clear that the UK is set to pull out of the single market and the European customs union in return for the ability to curb immigration, strike commercial deals with other countries, and escape the jurisdiction of the European Court of Justice, the Sunday Times said without saying how it obtained the information.
- GEORGE SOROS: Trump is a con man and he will fail
Billionaire hedge fund manager George Soros on Thursday reiterated his belief that President-elect Donald Trump is “an imposter and con man and a would-be dictator.” Soros, 86, said at the World Economic Forum in Davos, Switzerland, that he is convinced the president-elect will fail. “He stands for that other form of government, which is the opposite of an open society,” said Soros, who is a Holocaust survivor and Hungarian immigrant. “It's really better described as a dictatorship or a mafia state.” Soros said Trump “would be a dictator if he could get away with it,” but that US institutions are strong enough to prevent that scenario. He also said the ideas that guide Trump are “inherently self-contradictory” and that those contradictions are “embodied by his advisers.”
- Why Is Obama Moving Troops Into Poland And Provoking A War With Russia Right Before The Inauguration?
January 20th cannot come soon enough. Instead of stepping back and trying to ensure a smooth transition for Donald Trump, Barack Obama has decided to go hog wild and use every ounce of presidential power still available to him. He has been establishing a bunch of new national monuments, he just stabbed Israel in the back at the United Nations, and on Thursday he even took time to give Joe Biden a Presidential Medal of Freedom. But one of the things that has people the most concerned is his endless provoking of Russia. Every few days it seems like Obama is doing something else to aggravate Russia, and if he wasn’t leaving office in about a week I am sure that the mainstream media would be full of speculation about a possible war. Lame duck presidents are not supposed to make risky moves like this once a new president has been elected. On Thursday, we learned that U.S. troops have been permanently deployed to Poland for the very first time…
- Alibaba'a Jack Ma Drops a Redpill in Davos: The U.S. Wasted $14 Trillion on Wars Over the Past 30 Years
And there it is, the unvarnished, raw, truth about how everything went wrong for middle class America. Since the Vietnam war, more than 45 years ago, the US has embarked on a neocon strategy of war in an effort to build a global empire. The result of that strategy has left American infrastructure second rate, its school system in shambles, and its healthcare system a complete and utter joke. Just imagine what America could've done with $14t of investable dollars, instead of waging wars. Aside from the wars, America spends more than 50% of its discretionary budget on the military, per annum, 16% of its overall budget.
- Why Has The White House Suddenly Released A Strategy For Dealing With The Threat Of A Catastrophic Meteor Impact?
Does the White House know something that the rest of us do not? As the Obama administration draws to a close, the White House has suddenly released a major document that details a multi-pronged strategy for dealing with the threat of a catastrophic meteor impact. Most of us remember movies such as “Deep Impact” and “Armageddon” that attempted to depict what such a crisis would look like, but up until fairly recently the U.S. government has never seemed to take this kind of threat very seriously. So what has changed? Of all the things that the White House could be focusing on, why this?
- Pastor Lindsey Williams introduces Pastor David Bowen – January 19, 2017
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.
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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 January 13, 2017 to January 19, 2017:
- America Became A Lot Less Christian During The Presidency Of Barack Obama
In 2006, Barack Obama famously said that “we are no longer just a Christian nation“, and after the last eight years that is now more true than ever. The Pew Research Center has just released a major report entitled “How America Changed During Barack Obama’s Presidency“, and what struck me the most about the report was the fact that it showed that the United States became a lot less Christian while Obama was in the White House. Of course this trend did not begin under Obama, but it seems to have accelerated during his presidency. In particular, the percentage of Americans that have no religion at all is really growing rapidly. According to the report, “nones” now make up nearly a fourth of our entire population…
- Davos Elite Seeks Fixes to Defend the System From Populists
The great and the good of Davos agree they have a problem with populism. Finding a solution is the hard part. On the second day of the World Economic Forum’s annual meeting in the Swiss Alps, delegates disagreed on how best to address the upending of the western political order, a debate made doubly urgent by the string of elections in Europe this year where anti-establishment parties could gain more ground. While International Monetary Fund chief Christine Lagarde urged a list of policies from programs to retrain workers to more social spending, others fretted that the turbulence is only starting. Hedge Fund billionaire Ray Dalio warned on a panel chaired by Bloomberg Television’s Francine Lacqua that “we may be at a point where globalization is ending, and provincialization and nationalization is taking hold.”
- 2017 Prediction-Global War Cycle Coming into Danger Zone
Renowned financial and geopolitical analyst Charles Nenner correctly predicted there would be no market crash in 2016. 2017 is going to be a very different story. Nenner explains, “There are going to be some serious corrections and some bounces. I don’t thing we are going anywhere until the fall of 2017 when the whole bottom is going to fall out. If you are a very good stock picker, you’ll be okay, but I am talking about the indices (overall financial markets). It continues to be dangerous, and most of the good news is already in this rally. The hope that Trump will do the right thing is still there, but it will take too long. People will realize it is not going to happen tomorrow, and they will get disappointed. So, I am still not very much into the stock market. I don’t think there is much to gain over there. I have been saying that for the next couple of years, try not to lose your money. That’s the major thing you should be doing.”
- More Davos Elites Suggest Banning Cash…
A central theme for the Davos World Economic Forum is a push to ban cash. Yesterday we outlined how Nobel Prize winning economist Joseph Stiglitz was urging the US to do away with physical cash. Today, Paypal CEO Dan Schulman is doing much the same thing although in this case he claims that getting rid of cash will end “leakage” (Stiglitz and most elites usually suggest a cash ban will end money laundering or crime).
- Why Are Wal-Mart And Boeing Laying Off Workers If The U.S. Economy Is In Good Shape?
The stock market has been on quite a roll in recent weeks, but signs of trouble continue to plague the real economy. Earlier this week, I talked about the “retail apocalypse” that is sweeping America. Major retail chains such as Sears and Macy’s are closing stores and laying off workers, but I didn’t think that Wal-Mart would be feeling the pain as well. Unfortunately, that is precisely what is happening. USA Today is reporting that approximately 1,000 jobs will be cut at Wal-Mart’s corporate headquarters in Bentonville, Arkansas by the end of this month…
- US Marines Land In Norway For The First Time Since World War II, Angering Russia
Just one week after thousands of US troops arrived in Poland to “support NATO's Anti-Russian buildup” across Eastern Europe, 300 U.S. Marines from Camp Lejeune landed in Norway on Monday for a six-month deployment, marking the first time since World War II that foreign troops have been allowed to be stationed there, in a deployment breaking with decades of tradition by Norway not to host foreign forces, and angering Norway's Arctic neighbor Russia, according to Reuters.
- Can Trump Take Back The Presidency From The CIA?
If Trump intends to survive, he must break the CIA into a thousand pieces as President John F. Kennedy intended before the CIA assassinated him. Trump must arrest for treason the neoconservatives and put them on trial. Trump must curtail NSA’s spying, which is in complete violation of the US Constitution, on all communications of all Americans. Trump’s oath of office is to the Constitution, not to war on the American public. Trump must ban all presstitute print and TV media from White House press conferences and only give credentials to the alternative Internet media. The print and TV media are operatives of the CIA and are totally devoid of integrity. Indeed, perhaps the presstitutes should be arrested for treason and put on trial along with the neoconservatives and the CIA.
- EPA says it can’t pay economic damages from massive mine spill that sent tainted water into Utah
The Environmental Protection Agency announced Friday it will not repay claims totaling more than $1.2 billion for economic damages from a mine waste spill the agency accidentally triggered in Colorado, saying the law prohibits it. The EPA said the claims could be refiled in federal court, or Congress could authorize payments. But attorneys for the EPA and the Justice Department concluded the EPA is barred from paying the claims because of sovereign immunity, which prohibits most lawsuits against the government. “The agency worked hard to find a way in which it could pay individuals for damages due to the incident, but unfortunately, our hands are tied,” EPA spokeswoman Nancy Grantham said.
- Boeing: Three More Waves of Layoffs in 2017, as Orders Collapse to 7-Year Low. Shares Near All-Time High
This is not the way to start your workday… to find this email from your boss in your inbox: “As we enter 2017, our plan calls for us to reduce our Engineering staff. I realize some of this news is unpleasant. But I wanted to respect your right to know what is occurring this year.” But that’s what happened on Tuesday at Boeing. Hammered by slowing aircraft sales and a declining order book, Boeing warned on Tuesday in an internal memo that it would conduct involuntary and voluntary layoffs of engineers in Washington state, southern California, and South Carolina, according to The Seattle Times. The memo did not mention the size of the staff cuts.
- Anarchists Plan To Target Balls, Events And Trump Supporters All Over D.C. During Inauguration Week
The radical left is promising to make this the most chaotic inauguration in U.S. history. As I have written about previously, anarchists plan to do whatever they can to disrupt the inauguration of Donald Trump, but their plans are not just limited to the main event. As far as the protesters are concerned, any event that has anything to do with the inauguration of Trump is fair game, and so if you plan to attend a lunch, a ball or even a prayer meeting you will need to take precautions. Every single officially sanctioned event is on their radar, and those that do not have heavy security will be easier for them to hit. The anarchist leaders know that their people aren’t likely to be able to get anywhere near Trump, and so they are focusing on how they can make headlines in as many other ways as possible. According to the Daily Caller, this includes disrupting “several of the balls on inauguration night”…
- Will There Be War On The Streets Of Washington D.C. During The Inauguration On Friday?
The stage is set for a potentially very ugly confrontation between radical leftist protesters on one side and law enforcement authorities and Trump supporters on the other side. It is being estimated that hundreds of thousands of supporters will be arriving in D.C. to celebrate the inauguration of Donald Trump, but it is also being estimated that hundreds of thousands of people will be coming to D.C. to specifically protest the inauguration of Trump. These protesters plan to set up blockades, disrupt inaugural balls and generally cause as much chaos as they possibly can. In fact, a spokesperson for #DisruptJ20 says that the goal of his organization is for Trump to be inaugurated “amid complete chaos”…
- Davos elites struggle for answers as Trump era dawns
The global economy is in better shape than it's been in years. Stock markets are booming, oil prices are on the rise again and the risks of a rapid economic slowdown in China, a major source of concern a year ago, have eased. And yet, as political leaders, CEOs and top bankers make their annual trek up the Swiss Alps to the World Economic Forum in Davos, the mood is anything but celebratory. Beneath the veneer of optimism over the economic outlook lurks acute anxiety about an increasingly toxic political climate and a deep sense of uncertainty surrounding the U.S. presidency of Donald Trump, who will be inaugurated on the final day of the forum. Last year, the consensus here was that Trump had no chance of being elected. His victory, less than half a year after Britain voted to leave the European Union, was a slap at the principles that elites in Davos have long held dear, from globalization and free trade to multilateralism.
- This Pension Thing Is About To Get Real
Though it may not be instantly clear, in the above quote Michael Lewis is talking about public sector pensions and how over the course of several decades, mayors and governors across the US have colluded with police, firefighter and teachers unions to promise outrageously-generous benefits and then failed to put aside enough money to pay for them. As a consequence two things are happening. In dozens if not hundreds of cities and towns, services are being cut to the bone to pay for ballooning pension benefits, and – when even these cuts prove inadequate – pensions are being drastically reduced. Which in turn means two other things. First, life isn’t nearly as easy or pleasant as it used to be in a lot of places, as library hours are cut, trash piles up and police response times lengthen. And second, hundreds of thousands of public sector workers who expected to retire comfortably are staring at major lifestyle shrinkage.
- IMF Downplays Trump Stimulus Effect; Slashes Saudi, Mexico Growth In Latest World Economic Outlook
As the world's elite gather in Davos to decide for the minions what the world should look like, The IMF has taken a far dimmer view of global (and by that we mean Trumpian) economic growth than markets appear to be. In addition to slashing Brazilian, Mexican, and Saudi Arabian economic growth forecasts, Lagarde's lackeys are taking a cautious stance toward the policies of U.S. President-elect Donald Trump, who takes office this week, assuming only a modest boost to the U.S. economy from his promise of fiscal stimulus. As Bloomberg reports, The IMF maintained its forecast for global growth in 2017 of 3.4 percent, the Washington-based organization said Monday in a quarterly update to its World Economic Outlook. Expansion for 2018 is forecast at 3.6 percent, also unchanged from the fund’s previous forecast in October.
- Examining RFK Jr.'s claim that the CDC “Owns over 20 vaccine patents.”
Mr. Kennedy is in very safe territory by reporting that the CDC has over 20 patents that create vast, undisclosed conflicts of interests in vaccine safety. This past week, President-Elect Trump invited Robert F. Kennedy Jr. to discuss Mr. Kennedy leading a vaccine safety commission. The mainstream media coverage of the meeting was widespread and furious. The vaccine industry and its media lap dogs do not want their corruption exposed in any official forum, and they have pointed their fury at Mr. Trump and Mr. Kennedy. We have seen a great deal of media on Kennedy and his vaccine safety and corruption claims in the last week. The nice thing about that is this – because he has been in the mercury fight for so long, and started investigating the claims of moms of vaccine injured children more than a decade ago, his coverage has returned the spotlight to the corruption that was uncovered in the early days of the realization that the vaccine program was hurting our kids.
- Ushering In a Totalitarian Police State in Cashless “Smart Cities”
From Scandinavia to Amsterdam to India and elsewhere, the trend of going “cashless” is gaining traction. We have been covering the shortcomings of what is rightly called the War On Cash here at TDV for a while now and have shown just how negative the effects can be on an unsuspecting nation’s people. Chandigarh, India, which is the capital of the northern Indian states of Punjab and Haryana, is like one of India’s labrats. Indian officials are working hard toward making it into India’s first cashless city. This initiative is part of the Prime Minister of India’s call for state governments to begin developing what he’s calling “smart” cities. That means cities attached to the latest internet technology. However there is nothing intelligent about his plan.
- Foreign Central Banks Liquidate Record $405 Billion In US Treasuries As China Sells Most US Paper Since 2011
The wholesale liquidation of US Treasuries continued in November, when according to the just released TIC data, foreign central banks sold another $936 million in US paper in November 2016, which due to an offset of $892 million in buying one year ago, means that for the 12 month period ended November, foreign central banks have now sold a new all time high of $405 million in the past 12 months, up from a record $403 million in LTM sales as of one month ago. Where did the selling come from? While Japan sold about $23 billion in November, its fourth month of consecutive selling, it was China which drove the selloff, dumping a whopping $66.4 billion in US Treasuries in its 6th consecutive monthly sale of US paper, and the biggest monthly selloff since December 2011. The monthly sale also brings China's total Treasury holdings to the lowest level since early 2010.
- THE FUTURE OF SPYING Earth’s atmosphere can be turned into massive surveillance system using LASERS, scientists discover
EARTH’S atmosphere can now be turned into a massive spy lens using cutting edge technology. BAE Systems are designing a directed energy laser system that could allow military commanders to spy on enemy activities from space. BAE believe that within 50 years, one of their aircraft could use an “atmospheric lens” to observe people from very long distances using the Earth’s atmosphere as a tool. The lasers temporarily change the Earth’s atmosphere into magnifying glass structures which can alter light and radio signals. This means users can listen into radio signals for thousands of miles.
- Obama transferred $500 million to a climate fund days before Trump is scheduled to take office
With just days left in his final term as president of the United States, Barack Obama is taking steps to safeguard the historic Paris climate agreement he helped secure — to the tune of $500 million. On Tuesday, Obama transferred the sum to the Green Climate Fund, a trust created in 2010 to allow wealthy countries to financially assist developing nations in reducing emissions. The United States has pledged a total of $3 billion to the fund. Combined with an earlier $500 million payment made in March, Tuesday's payment leaves the country with a balance of $2 billion — a debt of which President-elect Donald Trump has pledged to pay none. Obama's decision to transfer the funds as the clock runs out on his presidency is a major victory for a group of petitioners who had pressured him to make the payment ahead of Trump's inauguration.
- Former President Bush moved to intensive care as wife Barbara also hospitalized
Both President George H.W. Bush and former first lady Barbara Bush are now in a Houston hospital and will not attend Friday's inauguration of President-elect Donald Trump. The 92-year-old former president on Wednesday was moved to intensive care at Houston Methodist Hospital after being admitted on Saturday, his office said in a statement. “Shortly after our previous report on President Bush’s condition, he was admitted to the ICU at Houston Methodist Hospital to address an acute respiratory problem stemming from pneumonia,” the statement read. “Doctors performed a procedure to protect and clear his airway that required sedation. President Bush is stable and resting comfortably in the ICU, where he will remain for observation.”
- What ‘border adjusted’ tax means — and why it could be coming to America
Talk of a “border adjusted” tax has gone from the sidelines to center stage in Washington, which has a lot of people asking: What is it exactly? House Speaker Paul Ryan and members of President-elect Donald Trump's transition team met Monday night for 2 1/2 hours to discuss the House GOP's corporate tax reform plan — including a controversial provision that would essentially subsidize exports and tax imports. Emerging from the meeting, Trump's Chief Strategist Stephen Bannon told Reuters that they discussed “border adjustability,” which is one of the key provisions of Paul Ryan's tax blueprint. Currently, U.S. corporations are taxed on their worldwide profits at 35 percent. The House GOP plan would change that radically.
- U.S. import prices rise at fastest pace since 2012
The cost of imported goods rose at the fastest pace in four years at the end of 2016, largely because of higher oil prices that have added to some upward pressure on inflation as they rose. The import-price index increased 0.4% in December, the second sizable move in three months, the government reported Thursday. For the full year, import prices advanced 1.8%. That is the largest 12-month increase since the spring of 2012 and ends almost 2½ years of basically negative import inflation. Most of the weakness, and now the uptrend, in import prices is tied to large swings in the global cost of oil. Oil prices have ended a two-year slide and are now somewhat higher compared to a year ago.
- US religion is worth $1.2T/year, topping the 10 biggest tech companies, combined
Big religion makes up $1.2 trillion of income, yearly, in the United States. The organizations make their money, tax free, from religious “healthcare facilities, schools, daycare and charities; media; businesses with faith backgrounds; the kosher and halal food markets; social and philanthropic programmes; and staff and overheads for congregations.” The authors of the program have noted that, even though religion has been on the decline in recent years, spending on religious “social programs” has tripled since 2001, to $9T.
- Walmart layoffs just the latest cuts in retail industry
Walmart’s plan to lay off of hundreds of employees is the latest ripple in a wave of job cuts and store closures that are roiling the retail industry. The world’s largest retailer is cutting roughly 1,000 jobs at its corporate headquarters in Bentonville, Ark., later this month, according to a person familiar with the matter who was not authorized to speak about it. In a statement, Walmart spokesman Greg Hitt did not confirm the job cuts. “We are always looking for ways to operate more efficiently and effectively,” he said. “While we continually look at our corporate structure, we have not made any announcements. Like any organization, we make decisions based upon what’s best for our business and the customers we serve.”
- How To Fund A Universal Basic Income Fairly
A universal basic income (UBI) – an idea in which the government replaces all other forms of monetary assistance (welfare, social security, etc.) with yearly stipend – has enormous potential to radically transform our current unsustainable consumer economy based on individual ownership into a much more sustainable economy based on access if it is designed and funded carefully. Implementing a UBI would require a cultural shift in our attitudes towards work and money but in a world where money is access, the idea of granting everyone enough money to meet their basic needs has sound philosophical logic behind it. However, all of this potential is highly dependent on the way a UBI is funded. A poorly conceived plan may wind up doing far more harm to a society already ravaged by class divisions and extreme inequality.
- 10 Medicinal Plants For Your Survival Garden
A lot of the medicine that is currently distributed by the United States health system is extremely expensive and filled with unnatural chemicals that have horrible side effects. Adding medicinal plants to your garden can not only save your pocketbooks, it can also save your life! These 10 medicinal plants can be grown in your garden: 1. Aloe Vera, 2. Stinging Nettle, 3. Marsh Mallow, 4. Fenugreek, 5. Great Burdock, 6. Arnica, 7. Sea Buckthorn, 8. Tea Tree, 9. Chamomile, 10. Sage.
- The Ancient Tibetan practice for Health and Vitality
The Five Tibetans or the Five Rites of Rejuvenation, is a system of five, believed to be Tibetan, Yogic exercises said to be over 2500 years old. You flow through the five exercises almost in a meditative dance. Each exercise stimulates a particular chakra or hormonal system and revitalises certain organs, so that the five rites together form a complete workout for the body as a whole. This series of movements also known as “The fountain of youth” are credited with the ability to heal the body, balance the chakras and reverse the ageing process in just ten minutes a day.
- Why has NATO chosen Russia as its enemy instead of ISIS?
According to statements made at last weekend’s summit in Warsaw, NATO regards Russia as a bigger threat than ISIS. Of course, that's ludicrous but when you scratch beneath the surface, the use of these falsehoods makes perverted sense. Gleb is a Russian student in Dublin. Recently, at the request of a mutual friend, I’ve been helping him with his university thesis which focuses on the reasons Ireland is one of the few Western European countries that has resisted NATO membership. A distinction that most Irish people are extremely proud of. As an Irishman myself, I’ve always been baffled by why so many members of the British and continental European elite see NATO as a good thing. After all, where’s the glory in being dictated to by an external power whose interests are often at marked variance with your own?
- This Interview With Robert Kennedy Jr A Is A MUST Read
Do you know why RFK Jr is the best person to lead the new Trump Commission? Because he’s not a “vaccine activist.” He tumbled into learning about vaccines through his research on the impact of mercury on the environment. The interview conducted by Autism File executive editor Rita Shreffler who spoke with Kennedy about CDC corruption, pharmaceutical industry greed, media malpractice and his vision for the World Mercury Project. Now that Kennedy has agreed to take over such a role within the Trump Administration, his background on the subject becomes even more important.
- Obama Opens NSA’s Vast Trove of Warrantless Data to Entire Intelligence Community, Just in Time for Trump
WITH ONLY DAYS until Donald Trump takes office, the Obama administration on Thursday announced new rules that will let the NSA share vast amounts of private data gathered without warrant, court orders or congressional authorization with 16 other agencies, including the FBI, the Drug Enforcement Agency, and the Department of Homeland Security. The new rules allow employees doing intelligence work for those agencies to sift through raw data collected under a broad, Reagan-era executive order that gives the NSA virtually unlimited authority to intercept communications abroad. Previously, NSA analysts would filter out information they deemed irrelevant and mask the names of innocent Americans before passing it along.
- Chinese Companies to Build $1 Billion Solar Panels at Chernobyl Site
Solar energy will be harnessed from the nuclear contaminated Chernobyl reactor site in Ukraine, after two Chinese companies formalised plans to erect a 1GW solar power plant. A 2600km exclusion zone surrounding the reactor has been in place since the nuclear disaster occurred in 1986, but following the construction of a steel-clad arch enveloping the site, interest in the area has developed. The race to renovate the deserted site has been won by GCL System Integration Technology (GCL-SI), a subsidiary of Golden Concord Holdings (GLC), one of China’s biggest renewable energy companies and China National Complete Engineering Corp (CCEC). The former company will supply and install solar panels on the site, while the latter will construct and run the plant upon completion.
- North Dakota Bill Would Protect Drivers Who ‘Accidentally’ Hit And Kill Protesters
Republican lawmakers in North Dakota are taking aim at protesters with a handful of bills that would make another pipeline protest far more dangerous. The oil-friendly legislature argues that its constituents are frustrated over the protests, which led federal authorities to halt construction of the $3.8-billion Dakota Access Pipeline as thousands of protesters braved cold weather and violence for months. A bill that state GOP Rep. Keith Kempenich introduced would exempt drivers from liability if they accidentally hit a pedestrian, according to the Bismarck Tribune. House Bill 1203 was written up in direct response to groups of protesters blocking roadways, Kempenich told the paper. He claims protesters were seen jumping out in front of vehicles.
- Aid in reverse: how poor countries develop rich countries
We have long been told a compelling story about the relationship between rich countries and poor countries. The story holds that the rich nations of the OECD give generously of their wealth to the poorer nations of the global south, to help them eradicate poverty and push them up the development ladder. Yes, during colonialism western powers may have enriched themselves by extracting resources and slave labour from their colonies – but that’s all in the past. These days, they give more than $125bn (£102bn) in aid each year – solid evidence of their benevolent goodwill. This story is so widely propagated by the aid industry and the governments of the rich world that we have come to take it for granted. But it may not be as simple as it appears.
- Senior DARPA Scientist Warns of Widespread LETHAL ATTACKS Upon the Public Coming From Microwave Towers
It is an old issue, but with a new revelation by the most credible insider source to date. Recently, I was contacted by Dr. Paul Batcho. Batcho is a former DARPA senior scientist who worked at Los Alamos and held a top secret security clearance. In short, Batcho asserts that clandestine forces are purposely engaging in “acts of terrorism” against the general public through emission of dangerous frequencies from cell phone and microwave towers in the St. Petersburg/Orlando/ Tampa, Florida area.
- The Clinton Foundation Shuts Down Clinton Global Initiative
The Clinton Foundation’s long list of wealthy donors and foreign government contributors during the 2016 elections provoked critics to allege conflicts of interests. Clinton partisans defended the organization’s charitable work, and dismissed claims that it served as a means for the Clintons to sell off access, market themselves on the paid speech circuit, and elevate their brand as Hillary Clinton campaigned for the presidency. But as soon as Clinton lost the election, many of the criticisms directed toward the Clinton Foundation were reaffirmed. Foreign governments began pulling out of annual donations, signaling the organization’s clout was predicated on donor access to the Clintons, rather than its philanthropic work. In November, the Australian government confirmed it “has not renewed any of its partnerships with the scandal-plagued Clinton Foundation, effectively ending 10 years of taxpayer-funded contributions worth more than $88 million.” The government of Norway also drastically reduced their annual donations, which reached $20 million a year in 2015.
- The True Reason behind The 40-Hour Work Week And Why We Are Economic Slaves
What is the true reason behind the 40-hour work week? Economic slavery, or wage slavery, refers to one’s total and immediate dependence on wages to survive. Although people throughout history have had to work to get by, we now live in a culture where we are led to believe we have economic freedom, when unbeknownst to most citizens, we are in fact bound in servitude. We automatically accept a 40-hour workweek with meager hourly pay as normal, even though many work overtime and still struggle to survive. There are also those who make enough to live comfortably but are unable to request less hours—you either work 40 hours a week, or you don’t get to work at all. We submit when told what to wear, when we have to arrive and depart, when we’re allowed to eat, and even when we’re allowed to use the restroom. How is it we have come to allow this?
- American Force of 4,000 Arrives in Poland at Taxpayer Expense
It took a year, and now it’s a fact: American troops are in Poland in rather large numbers. The rotating deployment of 4,000 American soldiers and forces in Poland was budgeted at $3.4 billion. It costs roughly $1 million a year to keep a single soldier overseas in a place like Poland. (In Afghanistan, the cost is well over $2 million a year for a single soldier.) This is said to deter Russia, but it’s totally unrealistic to think that Russia intends to attack Poland. Materially, the military-industrial complex benefits from keeping Russian-American tensions alive. Peace and disarmament are not in its interest; they mean much lower power and profits. Philosophically, the guiding concept that vivifies the military-industrial complex is to show the Russians and the world that the U.S. is a superpower and that it intends to spread its ways worldwide, with Russia included as a target for coming under American influence and domination.
- The Soft Coup Collapses – CIA Bluffing, Russia Did Not Hack, Blackmail Revealed – What Next?
CIA was bluffing, produced no evidence – Russians did not “hack” the election. Is this the beginning of the end of the Deep State in the USA? Can Trump clean house & wage peace? Aided by enormous restraint on the part of Vladimir Putin, President of Russia, the soft coup in the USA has collapsed. Not only has the US Intelligence Community (US IC) lost all semblance of credibility with incoming President Donald Trump, but the blackmail by the Central Intelligence Agency (CIA) of Senators John McCain and Lindsey Graham has been revealed by investigative journalist Wayne Madsen.
- Trump calls CIA chief ‘fake news leaker’ after Brennan warns him about ‘talking & tweeting’
Donald Trump branded outgoing CIA chief Brennan “the leaker of fake news” after he told Trump to grasp the “Russia threat” instead of “talking and tweeting,” stirring up another feud between the incoming administration and the intelligence community. Tensions between US President-elect Donald Trump and the intelligence community escalated once again this weekend as outgoing CIA Director John Brennan fiercely attacked Trump’s views on US-Russia rapprochement. “I don’t think he has a full understanding of Russian capabilities and the actions they are taking on the world,” Brennan said on Fox News Sunday. With just several days to go until his inauguration, Trump “has to recognize that his words do have impact,” the CIA chief said.
- Trump vows ‘insurance for everybody’ in Obamacare replacement plan
President-elect Donald Trump said in a weekend interview that he is nearing completion of a plan to replace President Obama’s signature health-care law with the goal of “insurance for everybody,” while also vowing to force drug companies to negotiate directly with the government on prices in Medicare and Medicaid. Trump declined to reveal specifics in the telephone interview late Saturday with The Washington Post, but any proposals from the incoming president would almost certainly dominate the Republican effort to overhaul federal health policy as he prepares to work with his party’s congressional majorities. Trump’s plan is likely to face questions from the right, after years of GOP opposition to further expansion of government involvement in the health-care system, and from those on the left, who see his ideas as disruptive to changes brought by the Affordable Care Act that have extended coverage to tens of millions of Americans.
- 70 Nations Gathered In Paris Unanimously Call For The Creation Of A Palestinian State
On Sunday, the 70 nations that gathered in Paris for a conference on the Israeli-Palestinian conflict unanimously agreed to call for the creation of a Palestinian state. The joint declaration that was issued at the conclusion of the conference also endorsed UN Security Council Resolution 2334 which was adopted on December 23rd and the six principles that U.S. Secretary of State John Kerry laid out in his 71 minute speech on December 28th. If you would like to read the final draft of the joint declaration, you can do so right here. The good news is that this conference did not immediately recognize a Palestinian state, nor does it appear that additional action will be taken at the UN Security Council before Donald Trump is inaugurated on Friday. It had been feared that this conference may attempt to impose some sort of a solution on the Israelis and the Palestinians, but that didn’t come to pass. Instead, the conference participants agreed to work toward “a negotiated solution with two states, Israel and Palestine, living side by side in peace and security“.
- Mid-East Prophecy Update – January 15th, 2017
Pastor J.D. focuses in on the significance of all that's happened in just the first fifteen days of the year, namely, that of the unprecedented UN Resolution and Paris Peace Summit, taking place at the time of today’s prophecy update. By way of a clarification and an apology concerning Obama chairing the UN Security Council, I misspoke and should have said that he “was” (in 2009) and not “will become” (in 2017) the first president in history to do so.
- Welcome To One of The Most Pivotal Weeks In Modern American History
Many are anticipating that a wonderful new era of peace and prosperity is just a few days away, but others are using terms such as “civil unrest” and “civil war” for what they believe is about to happen in America. Without a doubt, Donald Trump is one of the most electrifying politicians in modern American history, but he is also one of the most polarizing. So will the next four years bring us together as a nation, or will anger, frustration, strife and discord tear us much farther apart? It is being projected that extremely large crowds of supporters will attend Donald Trump’s inauguration on January 20th, but the mainstream media is also reporting that “hundreds of thousands of protesters” are on their way to Washington. Many on the far left are hoping to turn Trump’s inauguration into one of the biggest riots in U.S. history, but thousands of law enforcement personnel are going to do their very best to prevent that from happening.
- Rex Tillerson Says Oil Companies Don’t Take Handouts. Exxon Mobil Gets $1 Billion A Year.
Rex Tillerson, President-elect Donald Trump’s nominee for secretary of state, denied that tax breaks to fossil fuel companies amount to subsidies during his Senate confirmation hearing on Wednesday. Yet Exxon Mobil Corp., the oil giant Tillerson worked at for 41 years and led for 10, receives between $700 million and $1 billion per year in government giveaways, according to a new analysis by Oil Change International, a nonprofit research firm that tracks the fossil fuel industry. During the hearing, Sen. Jeanne Shaheen (D-N.H.) asked Tillerson if he would pursue a 2009 pledge ― led by the United States and backed by Russia, China, India and 16 other nations ― to scale back subsidies for oil and other carbon dioxide-spewing fuels. Tillerson argued that he would have little influence over incentives baked into the tax code, and said he was “not aware of anything that the fossil fuel industry gets that I would characterize as a subsidy.”
- California Gets a Trillion Gallons in Fresh Rainwater and Tosses it in the Ocean
California just received enough fresh rainwater to entirely end the drought and still set some aside for later, but they still continue to dump water in the ocean for a bait fish. Liberals have a tendency to do more harm than good, especially when it comes to micromanaging the environment. Every year, California sends full amounts of rainwater out into the ocean. A giant swath of what used to be called, “the breadbasket of the world” is a desert because Sacramento with the help of Washington refuses to divert water to the farmland.
- Trump blasts ‘sleazebag operatives’ for ‘Russian dossier’ release, pledges hacking report in 90 days
The US president-elect has accused unnamed ‘sleazebag political operatives’ in both parties for publishing a dubious dossier alleging that he has ties to Russia, while pledging a full report on the alleged ‘Russian hacking’ of the US election in 90 days. In a series of tweets, Donald Trump reiterated his denial of the uncorroborated allegations published by Buzzfeed that claimed he had ties with the Russian government and was the target of potential Kremlin blackmail. “Totally made up facts by sleazebag political operatives, both Democrats and Republicans – FAKE NEWS! Russia says nothing exists. Probably released by ‘Intelligence’ even knowing there is no proof, and never will be. My people will have a full report on hacking within 90 days!” Trump said.
- Morgan Stanley to pay $13 million for overbilling clients: SEC
Morgan Stanley (MS.N) will pay $13 million (£10.6 million) to settle civil charges, after it overbilled some of its wealth management clients because of coding and other billing system errors, U.S. regulators said Friday. The Securities and Exchange Commission said the bank was also charged with violating custody rules designed to safeguard investor assets. The bank agreed to settle the case without admitting or denying the charges. A spokeswoman for Morgan Stanley's wealth management unit said the company was pleased to have the matter resolved. “All affected clients have been reimbursed and the firm has enhanced its policies and procedures, including discontinuing the use of certain legacy systems,” company spokeswoman Christine Jockle said in a statement.
- The Privacyless, Freedomless Smart City of 2030 the Elite Are Engineering
Well here's a fat bag of crazy for you, courtesy of the elites over at Davos ahead of their 2017 meeting. Add cashless in there of course, we would have but there are only so many words that will fit into a YouTube video title. If you look around at the way things are being manipulated on nearly every level right now, you can clearly see how society is being engineered for this future, as insane as it sounds…
- Trump’s Decision to Study Vaccine Safety with Controversial Activist Backed by Undeniable Evidence
Already President Elect Donald Trump has made a series of decisions that have caused holistic health advocates to raise their eyebrows in disbelief — including the appointment of an agricultural community packed with Big Ag executives that are closely allied with the chemical giants and big environmental polluters. However, there is one decision just announced that could benefit the lives, and health, of many children in the long run. The issue at hand is the safety of vaccinations, particularly children’s vaccinations. Trump, who has previously met with safe vaccine activists such as Vaxxed director Dr. Andrew Wakefield during his campaign, and gave money to support Jenny McCarthy’s fight for safer vaccines, has now asked Robert F. Kennedy Jr., a vaccine researcher and the nephew of former president John F. Kennedy, to lead a study on vaccine safety.
- New Report Exposes Rockefeller Dynasty's Role in “Climate” Scam
An unfathomably wealthy banking and oil dynasty has been hijacking governments, media organs, universities, non-profits, and other power centers to expand its control over the economy and the energy sector in particular, according to a recently released investigation by a watchdog group. That dynasty, of course, is the Rockefeller family. In essence, they have largely created, bankrolled, and weaponized what is known as the “green” movement “as a means to expand their empire over the past three decades,” the report found. Under the guise of fighting alleged “man-made global-warming,” the Rockefeller family and its billions have been bankrolling everything from “climate” journalism (propaganda) efforts, politicians, and “academia” to politically motivated “investigations” of energy companies and non-profit organizations by government officials. Billionaire extremist George Soros also helped fund the efforts, according to the report by the Washington, D.C.-based watchdog Energy and Environment Legal Institute (E&E Legal) entitled The Rockefeller Way: The Family’s Covert “Climate Change” Plan.
- Cabinet of Donald Trump
The cabinet of Donald Trump will replace Barack Obama's cabinet when each nominee is confirmed by the United States Senate and administered the oath of office, on or after January 20, 2017. Before confirmation, a high level career member of an executive department heads this pre-confirmed cabinet on an acting basis. The cabinet's creation is part of the transition of power following the 2016 United States presidential election.
- What Does The Future Hold For ‘Average Joes'? (Spoiler Alert: Feudalism)
What does the future hold for average people? Feudalism. And they’ll welcome it with open arms, convinced that they are embracing a smart, fair system that eliminates poverty. The greed, entitlement, and lack of ambition that seems inherent in many people today will have them slipping on the yoke of servitude willingly.
- What’s Going on with the Banks? Citi Cuts Goldman to “Sell,” after Goldman Cut Citi to “Neutral”
Citigroup hit back at Goldman Sachs, after Goldman Sachs had slammed Citigroup in September. Citi analyst Keith Horowitz, in a note to clients, downgraded Goldman from the already dismal “hold” to a rare “sell” rating, citing Goldman’s valuation. He said Goldman would need an additional $4 billion in full-year revenues above current estimates – which, according to Reuters, are pegged at $32.3 billion – to get to a return on equity (ROE) that would justify the valuation. “While we expect Goldman will see improved trading revenues going forward, the path is relatively uncertain and the bar is relatively high,” he wrote. Goldman is scheduled to report earnings on January 18. So time to take profits and move on, according to Citi.
- Man Who Advises Top Sovereign Wealth Funds In The World Says 2017 Will Be ‘The Year Of Reckoning’
On the heels of the Dow hitting a new all-time high, today King World News spoke with the man who advises the most prominent sovereign wealth funds, hedge funds, and institutional funds in the world. Expect Major Market Turmoil In 2017. Michael Belkin: “Eric, 2017 is going to be the year of reckoning. Many global markets are at a major turning point. For example, the FT just reported that speculators have an all-time record 816,000 short positions in Treasuries. There has never been a number that high. I had my global clients short bonds and we took out 15 points on the short side. But recently I recommended they go long bonds because I think there is going to be a huge short squeeze in U.S. Treasury bonds.
- The False Economic Recovery Narrative Will Die In 2017
Yes, the narrative of the “new normal” has been around for so long now that many people have simply grown used to it. The assumption is that the fiscal “new normal” has become the fiscal “normal,” and though the fundamentals continue to strain under the weight of poor global demand and historic debt levitated by extraneous fiat stimulus, the masses feel far less fear than is warranted. Hey, why should they? We’ve managed around eight years skating on thin ice, why shouldn’t we expect eight more years of the same? The banking elites have done the job they set out to do, which was to drive the economy to the very edge of the financial cliff, and then keep it suspended there until the general public became comfortable living next door to the abyss.
- The “Curse” of Labor-Saving Machinery Is Nothing New
At the end of last year, Amazon unveiled, “Amazon Go,” a futuristic, fully-automated convenience store set to open its doors in Seattle, Washington, within the next few months. While this exciting new venture promises to make quick-stop shopping trips easier for busy consumers, critics are wary of this type of advanced automation, and fear its widespread use could jeopardize a vast amount of jobs. Amazon Go is a truly unique shopping experience free of lines, registers, and checkouts of any kind. Instead, the store utilizes its customers’ smartphones and “grab and go technology,” which allows the consumer to simply walk in, grab desired items, and then get on with the rest of their day.
- Will Automation Make us Poor?
Automation has become a huge concern in recent years. With computer algorithms getting more and more sophisticated, machines are becoming increasingly able to do jobs that are many people’s bread and butter. Driverless cars have been tested on our roads for years. Although they aren’t commercially available yet, they eventually will be. Once that happens, they’ll replace cab drivers, as well as people currently contracted by rideshare companies like Uber and Lyft. After all, if employers can remove the expense of paying drivers, they can provide their services for much cheaper while still retaining a greater net profit. Automated vehicles will also replace commercial freight drivers.
- D.C. National Guard Chief Fired Days Before Trump Inauguration: “The Timing Is Extremely Unusual”
“It doesn’t make sense to can the general in the middle of an active deployment,” rages D.C. Council Chairman Phil Mendelson (D) after Maj. Gen. Errol R. Schwartz, who heads the D.C. National Guard and is an integral part of overseeing the inauguration, has been ordered removed from command effective Jan. 20, 12:01 p.m., just as Donald Trump is sworn in as president. As The Washington Post reports, Maj. Gen. Errol R. Schwartz’s departure will come in the midst of the presidential ceremony, classified as a national special security event — and while thousands of his troops are deployed to help protect the nation’s capital during an inauguration he has spent months helping to plan.
- What Puerto Rico Can Teach Us About the Minimum Wage
This week, twenty states began implementing minimum wage increases that were passed during 2016. As the country waits to see how these increased wages this will affect the economy, the U.S. territories have already provided us with a grim example. After the 2007 Fair Minimum Wage Act was passed, each of the fifty states was required to raise the minimum wage from $5.15 an hour in 2006, to $7.25 by 2009. Few Americans realize that this legislation was also applied to the U.S. territories of Puerto Rico, American Samoa, and the Northern Mariana Islands, who were also forced to raise wages.
- Venezuelan president hikes minimum wage by 50 per cent, 5th raise in a year
Venezuela‘s socialist President Nicolas Maduro announced on Sunday a 50 percent hike in the minimum wage and pensions, the fifth increase over the last year, to help shield workers from the world’s highest inflation rate. The measure puts the minimum monthly salary at 40,683 bolivars – about $60 at the weakest exchange level under the state’s currency controls, or $12 at the black market rate. “To start the year, I have decided to raise salaries and pensions,” he said on his weekly TV and radio program.
- China's $3 Trillion In Reserves Questioned After PBOC Reports $41 BIllion In December Outflows
In late December, ignoring the official Chinese monthly reserve data and instead using a dataset provided by China's FX regulator SAFE on cross-border RMB flows and on onshore FX settlements, Goldman calculated the true amount of Chinese FX outflows and found that Beijing has continued to mask the full extent of its capital flight, which in November spiked to $69 billion (well above the reported, currency adjusted number of $34 billion). Furthermore, it found that “since June, this data has continued to suggest significantly larger FX sales by the PBOC than is implied by FX reserve data.” Even more troubling, Goldman calculated that cumulatively since August 2015 through November 2016, FX outflow totaled roughly US$1.1 trillion, while implied FX sales suggested by PBOC’s FX position (headline reserves after adjusted for currency valuation effect) were approximately US$630bn (US$540bn), indicating that the real rate of reserve depletion was nearly double that represented by PBOC reserve data.
- China Launches Bitcoin Crackdown: PBOC Will Probe Abnormal Investor Behavior “And Rectify Misbheavior”
Having long been advocates of Bitcoin (ever since Sept. 2015 when it traded at $230) for the simple reason that we were confident the digital currency would eventually become China's favorite means of circumventing capital controls – precisely as has transpired – two months ago we warned that the unprecedented surge which made bitcoin the best performing asset in the past year with a 5x return, may be ending as “China Prepares To Impose Curbs, “Capital Controls” On Bitcoin.” Since then, and especially over the past week, China has launched a series of incremental steps designed to do just that, which culminated on Friday when China's central bank issued a statement calling the changes in the virtual currency “abnormal”, and said authorities have required the trading platform to operate in compliance. They urged the platform to “probe investors' behavior and to “rectify misbehavior.”
- Hungary Plans to Crack Down on All Soros-Funded NGOs
Hungary plans to crack down on non-governmental organizations linked to billionaire George Soros now that Donald Trump will occupy the White House, according to the deputy head of Prime Minister Viktor Orban’s party. The European Union member will use “all the tools at its disposal” to “sweep out” NGOs funded by the Hungarian-born financier, which “serve global capitalists and back political correctness over national governments,” Szilard Nemeth, a vice president of the ruling Fidesz party, told reporters on Tuesday. No one answered the phone at the Open Society Institute in Budapest when Bloomberg News called outside business hours.
- Ron Paul Sums Up Nobel-Peace-Prize-Winning President Obama In One Short Sentence
Following our discussion of the unprecedented bombing-fest that has been undertaken during President Obama's reign… Seven years after being awarded the Nobel Peace Prize for his “extraordinary efforts to strengthen international diplomacy and cooperation between peoples,” despite having been in office for less than one year and having pretty much no actual, tangible foreign diplomacy accomplishments at the time, President Obama will depart the White House having dropped 26,171 bombs on foreign countries around the world in 2016, 3,027 more than 2015. According to an analysis of Defense Department data from the Council on Foreign Relations, a non-partisan think tank, the majority of Obama's 2016 bombs were dropped on Syria and Iraq. Meanwhile, Afghanistan, a country President Obama vowed U.S. troops would evacuate completely by the end of his Presidency, was also bombed over 1,300 times, a 40% increase over 2015.
- The ‘party of Davos' wakes up to the new, new world order
Influential business leaders and lawmakers once again descend on the Swiss Alpine resort of Davos next week against a backdrop of rising populism, and early indications suggest they will at least acknowledge the dramatic political shifts of the last twelve months. Election wins for Donald Trump and Philippine President Rodrigo Duterte, as well as the U.K.'s vote to leave the EU, were widely seen as a rejection of current socio-economic models. Populism became a key story of 2016 and will be front and center in Davos ahead of elections this year in France, Germany, the Netherlands and most likely Italy. In a nod to this current mood, this year's World Economic Forum (WEF) is titled “Responsive and Responsible Leadership” and its official agenda describes a “weakening of multiple systems” that has eroded confidence and speaks of a possible “downward spiral” fuelled by protectionism, populism and nativism.
- Wal-Mart To Cut “Hundreds” More Jobs Before End-January
Despite the proclamations from The White House and its lackeys that this is the best jobs recovery ever and we are at full employment, it appears all is not well at the world's third largest employer. We've discussed many times the fact that Walmart had been overly eager to boost everyone's wage in order to appease the living wage crowd, and as a result the company had to move forward with massive layoffs and store closings to try and mitigate the impact on profits. Earlier last year we also noted that Walmart is testing out drones that when operational, will be able to carry out what once were human tasks in its large distribution centers. This effort will further position the company to be able to shed more labor and benefit expense in the future. That said, Walmart isn't waiting for the drone initiative to come online. After firing 7,000 in September, The Wall Street Journal reports, Wal-Mart is preparing another round of job cuts at its headquarters before the end of the month, according to people familiar with the situation.
- Healthcare Chaos Emerges After Trump Backtracks, Demands Immediate Repeal Of “Catastrophic” Obamacare
Perhaps as a result an angry backlash to last night's report by the WSJ that President-elect Donald Trump had allegedly sided with Rand Paul in pushing to delay the repeal of Obamacare until such time as there is a suitable replacement option, which as we explained are two entirely distinct processes, and that an ACA replacement could take years as it would require bipartisan support, moments ago the the NYT reported that Trump appears to have backtracked on his position as recently as yesterday, and has pressed Republicans to move forward with the “immediate repeal” of the Affordable Care Act and to replace it very quickly thereafter, saying, “We have to get to business. Obamacare has been a catastrophic event.”
- The Dakota Access Pipeline is the Best Way to Move Bakken Crude Oil to Market.
The Dakota Access Pipeline (DAPL) is the safest and most environmentally sensitive way to transport crude oil from domestic wells to American consumers. It is the result of an extensive process that involved review and approval by the U.S. Army Corps of Engineers and regulators in North Dakota, South Dakota, Iowa, and Illinois. It will be among the safest, most technologically advanced pipelines in the world.
- Trump’s Approval Rating Is Supposedly Only 37 Percent, But Small Business Optimism Just Hit The Highest Level In 12 Years
A Quinnipiac University Poll that was released on Tuesday says that Donald Trump only has an approval rating of 37 percent. Meanwhile, that same survey found that Barack Obama currently has an approval rating of 55 percent. Of course considering the fact that Quinnipiac polls showed Hillary Clinton winning the election in November easily, perhaps we should not put too much stock in these results. But other polling organizations have come up with similar results. In fact, an average of nine recent polls indicates that Trump’s approval rating is somewhere around 42 percent. So without a doubt there are a whole lot of people out there that do not like Donald Trump.
- Pastor Lindsey Williams introduces Pastor David Bowen – January 12, 2017
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 January 6, 2017 to January 12, 2017:
- The 70 Nations That Will Meet In Paris On January 15th Are Going To Publicly Commit To Dividing The Land Of Israel
A draft of the summary statement that will be released at the conclusion of the 70 nation conference in Paris on Sunday has been leaked. As you will see below, this communique is going to call for the division of the land of Israel, for the establishment of a Palestinian state, for the 1967 borders to serve as the basis for final negotiations between the Israelis and the Palestinians, and for the condemnation of any officials that refuse to support a two state solution. Of course this comes on the heels of UN Security Council Resolution 2334, which many believe represented America’s greatest betrayal of Israel. Israeli government officials are publicly warning that there is a possibility that the principles agreed upon at this conference may form the basis for another Security Council resolution before January 20th, and this is something that we should all be watching for very closely.
- Activists Are Hoping To Turn Donald Trump’s Inauguration On January 20th Into One Of The Biggest Riots In U.S. History
Radical leftists are planning to make January 20th the most chaotic Inauguration Day in American history. Their stated goal is to “disrupt” the Inauguration festivities as much as possible, and they are planning a wide range of “actions” to achieve that stated goal. Some of the more moderate groups are using terms such as “civil resistance” and “civil disobedience”, but others are openly talking about “blockades”, jumping barricades, throwing projectiles and “citywide paralysis”. My hope is that all of their efforts will turn out to be a big flop, but it is important to understand that these groups are well funded, highly organized and extremely motivated. The election of Donald Trump has been perhaps the single most galvanizing moment for the radical left in modern American history, and they are working very hard to turn January 20th into a major political statement.
- U.S. Trade Deficit Widened in November to a Nine-Month High
The U.S. trade deficit widened to a nine-month high in November as exports fell and companies and governments imported the most since August 2015. The gap grew by 6.8 percent to $45.2 billion from a revised $42.4 billion in the prior month, Commerce Department figures showed Friday. The November shortfall was in line with the Bloomberg survey median for a $45.4 billion gap. Weaker overseas sales of U.S.-made goods and stronger domestic demand for imported merchandise indicate trade weighed on economic growth in last year’s fourth quarter. America’s net export position has also been made even more tenuous given the dollar’s rally in late 2016.
- Vaccine skeptic Robert Kennedy Jr. says Trump asked him to lead commission on ‘vaccine safety’
Robert F. Kennedy Jr., a proponent of a widely discredited theory that vaccines cause autism, said Tuesday that President-elect Donald Trump asked him to chair a new commission on vaccines. Hours later, however, a spokeswoman for Trump’s transition said that while Trump would like to create a commission on autism, no final decision had been made. If Trump follows through, the stunning move would push up against established science, medicine and the government’s position on the issue. It comes after Trump — who has long been critical of vaccines — met at Trump Tower with Kennedy, who has spearheaded efforts to roll back child vaccination laws.
- Factory orders tumble 2.4% in November
Factory orders retreated in November, snapping a four-month winning streak, the Commerce Department said Friday. The 2.4% decline was a bit stronger than the 2.3% forecast by economists surveyed by MarketWatch, but it followed an upward revision to October’s gain, taking that to 2.8%. Compared to a year ago, orders were down 1.8%. Orders for durable goods slid 4.5%, while orders for nondurable goods were down 0.2%. Shipments declined 0.1% in November, as did unfilled orders. Inventories increased 0.2%. Economists are hoping that the long slump in manufacturing will reverse as the shock to oil LCOH7, +0.34% recedes.
- Report: Walmart Workers Cost Taxpayers $6.2 Billion In Public Assistance
Walmart's low-wage workers cost U.S. taxpayers an estimated $6.2 billion in public assistance including food stamps, Medicaid and subsidized housing, according to a report published to coincide with Tax Day, April 15. Americans for Tax Fairness, a coalition of 400 national and state-level progressive groups, made this estimate using data from a 2013 study by Democratic Staff of the U.S. Committee on Education and the Workforce. “The study estimated the cost to Wisconsin’s taxpayers of Walmart’s low wages and benefits, which often force workers to rely on various public assistance programs,”
- Trump Bump: Small Business Optimism Soars To 12-Year High
Small business owners' optimism soared in December to the highest level since 2004, the National Federation of Independent Business said Tuesday, as President-elect Trump unleashes “animal spirits” on Main Street, even as corporate titans such as General Motors (GM) and Ford (F) tread carefully with the president-elect. NFIB's small business optimism index shot up 7.4 points to 105.8, the best reading since December 2004. It was the biggest monthly gain in decades. A net 50% of smaller firms see business conditions improving vs. 12% in November and -7% in October. “We haven't seen numbers like this in a long time,” said NFIB President and CEO Juanita Duggan. “Small business is ready for a breakout, and that can only mean very good things for the U.S. economy.”
- Rep. Dave Brat: ‘We Have Five or Six Plans’ to Replace Obamacare; GOP Leadership Needs to ‘Pick One’
Rep. Dave Brat (R-VA) discussed repealing Obamacare with Breitbart News Daily SiriusXM host Raheem Kassam on Monday, as well as alternate plans, including one he recently introduced in the House. The Daily Signal reports, “Rep. Dave Brat, R-Va., has introduced a bill in the House that, if passed, will allow individuals to decide how they want their health care funds to be spent, without the influence of the government or health insurance providers.” Brat said that the health savings account legislation is a way for lawmakers to prove to the American people that they have a plan to replace Obamacare after repealing it. Brat discussed several domestic alternatives, as well as systems other nations use. “We’re waiting for leadership to coalesce around a plan,” said Brat.
- Pope Francis Now International Monetary Guru
As the new year dawns, it seems the current occupant of St. Peter’s Chair will take on a new function which is outside the purview of the office that the Divine Founder of his institution had clearly mandated. Neo-Papist transmogrification. We highly recommend the economic thought of one of Francis’ storied predecessors, John Paul II, which we have written about on previous occasions. In “A Tale of Two Popes” and “Papal Eco-Hysteria”, we have contrasted Francis and John Paul II and quoted from the latter’s seminal encyclical “Centesimus Annus”, which probably contains the most clear-headed thinking on human liberty and economics that has ever emerged from the Vatican. Francis strikes us as a throwback to a completely discredited and dangerous ideology by comparison. Lately he is even calling for the establishment of a global central bank!
- Banks Not Going Broke, They Are Broke-Rick Rule
Rick Rule is an expert on investing in all sorts of natural resources, and that includes gold and silver. He thinks it won’t take a “catastrophic event” to move prices higher in precious metals. Rule explains, “You remember the decade of the 1970’s? The shocks to the financial system were severe but survivable. The gold price went from $35 per ounce to $850 per ounce.. . . As you can see, I am not a young guy. I was a finance major, and the way I learned accounting, it’s not like the banks are going to go broke, the banks are broke. . . . It isn’t a question of ongoing bank solvency. It’s a question of real bank solvency and how long people will believe in the system. . . . If the major players had to face a liquidity squeeze, even the level of magnitude they faced in 2008, I suspect the fiscal tools available are constrained enough now that they would be unsuccessful in containing a broad liquidity base contagion.”
- ALERT: One Shock After Another Will Create The Biggest Collapse Ever In World Financial Markets In 2017
As we kickoff the second week of trading in the new year, today the man who has become legendary for his predictions on QE, historic moves in currencies, warned King World News that one shock after another will create the biggest collapse ever in world financial markets in 2017. Terrifying Worldwide Panic In 2017. Egon von Greyerz: “We are only a week into 2017 but some longer-term trend changes are developing. It is interesting how a new year, combined with a new U.S. president act as a catalyst for what will be the start of monumental events in the world economy. Not that many of these will come as a surprise to the well-informed KWN audience, but for the rest of the world there will be one shock after the next that will create terrifying panic…
- Wholesale Sales Disappoint Sending Inventories-Ratio Back Into Recession Territory
November saw inventories rise more than expected (+1.0% MoM vs +0.9% exp) and sales disappoint (+0.4% vs +0.5% exp) and were notably revised lower. This sent the inventories-to-sales ratio back up again – stubbornly stuck in recessionary territory. Both Inventories and sales grew year-over-year… But the gap between inventories and sales grew in absolute terms for the first time since July… Sending the inventories-to-sales ratio back up again… Automotive inventories-to-sales jumped higher once again – back near cycle highs.
- The World Has Never Been In A Mega-Crisis Like This In All Of Human History
Today one of the greats in the business told King World News that the world has never been in a maga-crisis like this in all of human history. Storm Clouds Are Gathering Everywhere. John Embry: “Eric, I must begin by wishing you and your readers and listeners a belated happy new year. However, I question how happy a new year it is going to be as storm clouds have been steadily gathering everywhere…
- China’s plan to dominate the global gold market
Status as one of the world’s biggest bullion importers, participation in the gold fix at the London exchange and a plan to establish a jewelry gold investment center in Shanghai has turned China into one of the leading players in the global gold market in 2016. Gold entered the New Year in a downward trend. In 2016, prices of the yellow metal have continued to drop, for the fourth year in a row. The last time such a trend was registered was between 1988 and 1992. A drop in global gold prices was advantageous for China, the world’ biggest importer of gold bars, gold investment coins and refined gold.
- Is The S&P 500 Developing Into A “Bull Trap”?
Monday morning may have marked the beginning of a “bull trap,” should the S&P 500 price remain under the breakout high. Will it? Our bullish V-Spike Reversal off 2,228 set the stage for a continuation of the uptrend and bull market. After two pullbacks (retracements), price surged to new all-time highs Friday. However, Friday afternoon into Monday morning gave us a pullback under 2,270 which is a make-or-break point. Should price remain beneath 2,270, expect a swing back toward 2,255 (failure to break out). Any move back above 2,270 could trigger a powerful short-squeezed breakout but we’re not quite there yet.
- 10 ways the mainstream media creates fake news
The basic purpose of these ten forms is the presentation of a false picture of reality. You could find more forms, or divide these ten into sub-categories. The ten basic forms are: Direct lying about matters of fact. Leaving out vital information. Limited hangout. Shutting down the truth after publishing it. Not connecting dots between important pieces of data. Censoring the truth, wherever it is found. Using biased “experts” to present slanted or false “facts.” Repeating a false story many times. Claiming a reasonable and true consensus exists, when it doesn’t. Employing a panoply of effects. These are all traditional forms and methods.
- Top Five Monetary Policy Issues To Watch In 2017
With a new year come new opportunities as well as new issues to take into consideration. Here are the five most important issues to keep an eye on in 2017. 1. Trump Presidency. 2. Ongoing Weakness in Europe. 3. China Is Still a Wild Card. 4. The Relentless War on Cash. 5. A Coming Financial Crisis. As the reality sets in that massive amounts of resources have been malinvested in unproductive sectors of the economy, the bubbles that were blown will inevitably burst.
- The Globalists’ Russia Game
Thanks to Barak Obama’s most recent expression of his low character and a foreign policy weirdly akin to fantasy-baseball gone bad, thirty-five U.S.-resident Russian diplomats and their families targeted for rapid deportation feared a frantic search in the holiday crunch for open seats on flights to Moscow. On Friday, Russia sent an Ilyushin 11-96 to collect everyone and the families’ panic that they might not make their deportation deadlines receded. The embassy’s two retreats, one in New York and another in Maryland, were closed on schedule. Thus was the Obama administration’s maximally-inconvenient timing accommodated.
- Boeing: Three More Waves of Layoffs in 2017, as Orders Collapse to 7-Year Low. Shares Near All-Time High
This is not the way to start your workday… to find this email from your boss in your inbox: “As we enter 2017, our plan calls for us to reduce our Engineering staff. I realize some of this news is unpleasant. But I wanted to respect your right to know what is occurring this year.” But that’s what happened on Tuesday at Boeing. Hammered by slowing aircraft sales and a declining order book, Boeing warned on Tuesday in an internal memo that it would conduct involuntary and voluntary layoffs of engineers in Washington state, southern California, and South Carolina, according to The Seattle Times. The memo did not mention the size of the staff cuts.
- 2016 Past is 2017 Prologue
With us being just over a week into the New Year, we feel it worthwhile to look back just one last time at 2016. We believe that many of the themes and risks of 2016 continue in 2017 and that they are likely to impact markets in the coming months – especially the precious metal markets. We always enjoy new perspectives and every year we enjoy the witty, comprehensive and insightful analysis review of the year past by David Collum. His‘2016 Year In Review’ is in the same vein and was missed by many when it was released over the Christmas period.
- Don’t Count On Trump Being Inaugurated — Paul Craig Roberts
The Ruling Establishment Does Not Intend For Trump To Become President. The latest “explosive” fake news is that “multiple US officials with direct knowledge” told CNN that they have “classified documents” that Russia has compromising documents on Trump that would allow them to blackmail the US President. The documents consist of memos compiled by a former British intelligence operative “whose past work US intelligence officials consider credible.” According to antiwar.com “the dossier claimed several figures in the Trump campaign were in league with the Russian government during the campaign, and that Russia had been conspiring with them to groom Trump as an ally for ‘at least five years.’ It also claims exchanges of information between Trump and the Kremlin for ‘at least eight years,’ . . . The dossier names former Trump adviser Carter Page, his personal lawyer Michael Cohen, as well as incoming National Security Adviser Michael Flynn as having personally and repeatedly met with Kremlin officials on anti-Clinton leaks.”
- Hideous Constellation of Threats and Challenges Facing Mexico
Things are rapidly going from bad to worse in Mexico. Hundreds of people were arrested and a handful of people killed over the past week as peaceful protests against the government’s hike of gasoline prices (by as much as 20% in some states) descended into widespread looting and rioting. The mood on the street was hardly helped when Mexico’s deeply unpopular president, Enrique Peña Nieto, tried to defend his actions by asking the public, “What would you have done?” For a lot of people, the answer’s clear: a lot of things, very differently. Right at the top of the list would be launching an all-out war against the endemic culture of corruption plaguing virtually all levels of government. But now, time is fast running out as Mexico now faces a hideous constellation of threats and challenges, all at the same time.
- Get Ready to Pay $500 More in Taxes
It’s tax time again, and President-elect Donald Trump and his fellow Republicans in Congress have promised to slash them—especially for corporations and the rich. For millions of Americans, however, a tax increase will be the first thing they see. About 12 million workers will pay more this year because of an automatic adjustment in their payroll taxes. Unlike previous years, this rise in the Social Security “taxable minimum”—the amount of income subject to tax—is a whopper: 7.3 percent, the most in 34 years. That could cost each affected worker as much as $539, and much more if they’re self-employed. Why is 2017’s increase so huge? And where does this taxable minimum come from, anyway?
- The Oil Supply Glut is Here to Stay in 2017
It has become painfully obvious that the much-hyped OPEC agreement to reduce global oil production by close to 2 million bpd won’t have the effect that its initiators had hoped for. True, crude has jumped above US$50 but failed to pass the US$55 barrier and move closer to US$60, which would have solved a lot of problems for some of the world’s biggest producers. This price increase, however, has spurred optimism among some producers and motivated them to plan output ramp-ups, which will in turn dampen the upward potential of crude more effectively than growing doubts about top producers’ willingness to stick to their commitments under the historical agreement.
- Obama Regime Moves To Federalize Elections — Paul Craig Roberts
The ruling establishment has responded to Donald Trump’s election by laying the groundwork to federalize, and thus control, future elections. The federal government does not have the constitutional authority to administer elections, only to set the date. The Obama regime’s designation of elections as “critical infrastructure” seems to have no function other than to put in place a way to prevent voters from overthrowing an entrenched establishment, as the establishment fears the voters did when they elected Trump president. The distrubing question is: Why do it now after Trump’s election? Could there be a plot to rescind Trump’s election on the basis of the ongoing lies that Trump was elected not by the voters but by Russian interference? Federalization can be used to remove the states from the picture and prevent the states from challenging an establishment coup against the voters.
- US Currency Crisis Coming in 2017
When the cost of importing goes up, it’s not like Americans are just going to switch from buying goods made in China to goods make in America. No, they’re just going to have to pay more to buy the goods made in China. If they don’t have the extra money, they just won’t buy as much. So, what’s going to happen as a result of increasing the cost of importing is that consumers will spend less and the bubble economy will deflate. There will be less consumer spending because consumers won’t have as much money or won’t be able to afford the higher prices. It’s going to have a negative effect on GDP.
- Nobel Peace Prize Winner Obama Has 14 Days To Start World War III
Barack O’Bomber was nominated for the Nobel Peace Prize before he even became President. And he hasn’t had one day of peace in his eight years. And, he now has 14 days left and appears to be trying to foment World War III with his remaining opportunity. Long ago O’Bomber accepted the Nobel Peace Prize, but didn’t do anything to either justify or deserve it. More recently he’s actually done a lot to repudiate it. In fact, according to an analysis done by the Council on Foreign Relations of Defense Department data, the U.S. dropped over 26,000 bombs in 2016 during Obama’s final year in office, that’s over 3,000 more than in 2015!
- In 2017 Trump will be Presiding Over a Bankruptcy-Bill Holter
Financial writer Bill Holter says 2017 will be “the year of the Truth Bomb.” Holter explains, “I have been talking about ‘Truth Bombs’ for about a year and a half. I think what is going to happen in 2017 is that this hologram we’ve been living in, the curtain is going to be pulled back. . . . I want to see the truth come out, and that’s why we do what we do.” One of the big truths that will explode is about the economy, and this will be one of Trump’s biggest problems. Holter goes on to say, “Trump is a smart guy, and he understands that really what he’s going to be doing is presiding over a bankruptcy. That’s what his main job is going to be, and that’s reorganizing this country.”
- Debt Surge Producing Fake Recovery
What do the following headlines have in common? US wages grow at fastest pace since 2009. Euro area economy ended year with strongest growth since 2011. Surge in home prices is beating the one in mortgage rates. Manufacturing in U.S. Expands at Fastest Pace in Two Years. German Inflation welcomed back. Obviously they’re all favorable, with the possible exception of German inflation – though even that is “welcome”. Taken together they paint a picture of a global economy that’s finally returning to the kind of solid growth and steady, positive inflation that most people consider both normal and good. Unfortunately, the reason for the improvement is emphatically not good: In 2016 the world borrowed a huge amount of money and spent the proceeds. The result is “growth,” but not sustainable growth.
- 11 Numbers That Connect The Year 2017, Israel And Donald Trump
Is 2017 going to be the most important year that we have seen in a very, very long time? Because of the work that I do, I am constantly immersed in research, and lately I keep coming across very strange “coincidences” regarding the year 2017. The numbers that I am about to share with you certainly appear to be quite remarkable, but there will be many out there that will question their significance. To the naysayers, I would suggest that God has always put a lot of emphasis on numbers from the very beginning. For example, He created the world in precisely seven days, and on the seventh day He rested. All throughout Scripture, we see certain numbers showing up over and over again, and God has a purpose in that. So please keep that in mind as you consider the following 11 numbers that connect the year 2017, Israel and Donald Trump…
- Elitists Hope That Injecting The Blood Of Younger People Into Their Bodies Will Radically Extend Their Lifespans
Is the blood of young people a “fountain of youth” that will enable those that can afford the treatments to be able to live much longer lives? No matter how much money someone has, life inevitably ends at some point, but there are some extremely wealthy individuals that want to change all that. Billionaire technology investor Peter Thiel, among others, is very excited about advances that have been made in the field of parabiosis. According to Google, parabiosis is “the anatomical joining of two individuals, especially artificially in physiological research.” Based on research that has been done on mice, it is believed that blood transfusions could potentially slow or even reverse aging in humans. The Bible tells us that “the life of the flesh is in the blood”, but now these elitists want to greedily use the blood of younger people to greatly extend their own lifespans. If it turns out that this method is highly successful, will the blood of young people become a greatly valued commodity? When I first started hearing about this, I thought that it all sounded very strange. After all, if people were to drink the blood of young people we would call them vampires, but somehow it is okay to inject it directly into your veins?
- It’s A Retail Apocalypse: Sears, Macy’s And The Limited Are All Closing Stores
It has only been two weeks since Christmas, and already we are witnessing a stunning bloodbath of store closings. Macy’s shocked the retail industry by announcing that they will be closing about 100 stores. The downward spiral of Sears hit another landmark when it was announced that another 150 Sears and Kmart stores would be shutting down. And we have just learned that The Limited is immediately closing all stores nationwide. If the U.S. economy is doing just fine, then why are we experiencing such a retail apocalypse? All over America, vast shopping malls that were once buzzing with eager consumers now resemble mausoleums. We have never seen anything quite like this in our entire history, and nobody is quite sure what is going to happen next. Not too long ago I walked into a Macy’s, and it was eerily quiet. I stumbled around the men’s department looking for something to buy, but I was deeply disappointed in what was being offered. After some time had passed, an employee finally noticed me and came over to help, but they didn’t have anything that I was looking for.
- New Legislation Establishes Orwellian Propaganda Agency
Our elected officials in Washington have a habit of passing the laws that the American people would probably most like to know about at times when very few are likely to see it. On December 23rd of last year, while we the people were busy making preparations for the holidays, President Obama signed the National Defense Authorization Act for Fiscal Year 2017 into law. Deep within this vast jungle of ink, paper, and legalese, lies a brand new federal agency created to combat what Hillary Clinton has called an “epidemic of fake news and malicious false propaganda.”
- Donald Trump's big week
Donald Trump is embarking on the most crucial week of his transition into the presidency — and, as usual, he's at the epicenter of multiple controversies. Several of the President-elect's most prominent Cabinet picks will appear on Capitol Hill this week for confirmation hearings that could be brutal. Trump will also hold his first formal news conference since the summer on Wednesday to address potential conflicts of interest that could surround his presidency. President Barack Obama will move closer to exiting the stage when he delivers a farewell address Tuesday night from Chicago. Though the inauguration is less than two weeks away, the swirl of events means Trump's presidency effectively begins this week.
- The True History of Chemotherapy & The Pharmaceutical Monopoly
In 2016, approximately 1,685,210 new cases of cancer will be diagnosed in the United States alone, and approximately 600,000 people will die from the disease. The number of new cancer cases is 454.8 per 100,000 men and women per year, based on cases from 2008-2010. Men have almost a 50 percent chance of contracting the disease at some point in their lifetime, and women have a 1/3 chance. Pretty crazy isn’t it? In a time where so much information is coming to light, challenging the belief systems of so many, it’s important to keep an open mind to new information to help us see through what’s really been happening on our planet. It’s no secret that a small group of corporations dominates almost every aspect of our lives, from energy to education, all the way to modern day healthcare.
- A Nobel Peace Prize Winner Dropped 26,000 Bombs in 2016
According to an estimate conducted by Micah Zenko, a senior fellow at the Council on Foreign Relations (CFR), and national security expert Jennifer Wilson, a CFR research associate, President Obama dropped over 26,000 bombs in 2016. Syria was hit with 12,192 bombs, the highest number of any country on Obama’s hit list. Iraq came in a close second, receiving 12,095 bombs. Altogether, the peace prize laureate dropped at least 26,171 bombs in seven countries last year.
- The Chinese Chart That Keeps The IMF Up At Night
As the IIF reported yesterday, in the first 9 months of 2016 global debt rose by $11 trillion, hitting an all time high of $217 trillion, ro 325% of world GDP. Of this increase, the IIF said that China accounted for the “lion's share” and while China's relentless debt-funded stimulus continues to be ignored by markets, one other organization that begins with I and ends with F has also noticed that China has a big problem. As the IMF recently wrote in its IMFDirect blog, China urgently needs to tackle its corporate-debt problem before it becomes a major drag on growth in the world’s No. 2 economy. Corporate debt has reached very high levels and continues to grow.
- Venezuela's March Toward Default
It is only a matter of time until Venezuela will default on its foreign debt. After a short peak in 2009, when the country’s foreign exchange reserves stood at over $40 billion, Venezuela has been steadily hemorrhaging its reserves down to $10 billion. In 2016, Venezuela started to sell gold in order to compensate for the loss of its monetary reserves. As a consequence, Venezuela’s gold reserves plunged from over 360 tons down to less than 190 tons. Other than in the case that some foreign power, such as China, for example, would jump in as a lender, Venezuela’s default seems unavoidable.
- US drops more bombs in Obama’s final year of office than in 2015
President Obama's shifting approach to the conflict is a lens through which to judge his legacy as a wartime leader. New York Times. The U.S. dropped 26,171 bombs last year, 3,027 more than 2015. According to an analysis of Defense Department data from the Council on Foreign Relations, a non-partisan think tank, the majority of the bombs were dropped in Iraq and Syria. The U.S. leads an international coalition fighting the Islamic State group in both countries and has carried out air operations in attempt to reduce the area controlled by the terrorist organization. Nearly the same amount of bombs were dropped in Syria (12,192) and Iraq (12,095) last year.
- Obama Seized Enough Land and Water in 8 Years to Cover Texas Three Times
Last week, in one of his final moves out of the Oval Office, Obama executively designated more than 1.5 million acres of land as national monuments, preserving their untouched façade while closing them to human expansion, development, energy use, ranching or state or local jurisdiction. In a move ignored by the liberal media last week, Obama unilaterally seized more than 1.3 million acres from Utah to establish the Bears Ears Monument, preserving it at the behest of conservationist groups and Native American tribes who claimed the land was sacred. Utah’s state legislature, however, opposed the unilateral land grab across party lines, with many speculating that Obama’s move is the latest in an attempt to limit efforts from incoming President Donald Trump to expand domestic energy production.
- The War On Cash Ratchets Up In Greece With “Soft Cash” Ban
It wasn’t long ago that it came out that the IMF intentionally wanted to create a “credit event” in Greece – part of a larger plan to destabilize Europe. The country has already fallen victim to the repercussions of the war on cash, but now the grip of capital control is growing tighter. The Greek Finance Ministry in their infinite wisdom has decided that its nation’s taxpayers will only be granted deductions or tax-allowances if payments are made using a debit or credit card. This comes after numerous efforts intended to restructure debt. The Greek crisis started in late 2009, as the great recession revealed problems with the Greek economy. These involved difficulties with deficits, especially those that had not been properly accounted for by the Greek government.
- Gold: Getting There A Little At A Time
One of life’s hardest-to-learn but most necessary lessons is that things usually take a lot longer to work out than you’d like them to. That’s where the sayings “Being too early is the same as being wrong” and “The market can stay irrational longer than you can stay solvent” come from. A current case in point is gold. After the metal’s decade-long bull market, a correction was inevitable. But when it finally came, rather than being short and cathartic it was long and grinding, stretching from 2012 through 2015 and causing many who got back in prematurely to eventually walk away in disgust. Then, after a nice pop in the first half of 2016, came the current long, slow-mo correction that’s fraying the nerves of remaining gold-bugs.
- In Obama's Final Jobs report, A Record 95.1 Million People Were Not In The Labor Force
As it began so it will finish. Putting the exclamation point on a trend that has marked Obama's entire presidency, in the final Obama jobs report, the BLS announced that the total number of people not in the labor force grew once more, rising by 18,000 in December, and a whopping 841,000 in the past three months, to a new all time high of 95.102 million Americans no longer in the workforce. This meant that the perennial bogeyman of the Trump administration, the collapsing labor force participation rate, remained flat near 35 year lows, risint fractionally from last month to 62.7% as a result of 152.111 million people employed in a civilian non-institutional population of 254.742 million.
- Trump Is Working On A Plan To Restructure, Pare Back The CIA And America's Top Spy Agency
Just in case the accusations that president-elect Donald Trump is a puppet of the Kremlin, intent on destabilizing and weakening the US weren't loud enough, moments ago the WSJ assured these would hit an unprecedented level with a report that Trump, a harsh critic of U.S. intelligence agencies, is working with top advisers on a plan that would restructure and pare back the nation’s top spy agency, the Office of the Director of National Intelligence, prompted by a belief that it has “become bloated and politicized.” The Office of the Director of National Intelligence, or ODNI, was established in 2004 in large part to boost coordination between intelligence agencies following the Sept. 11, 2001 terror attacks.
- Looting, Riots In Mexico Spiral Out Of Control Over 20% Gas Hike; Hundreds Arrested
Four days after the first sporadic protests emerged in Mexico City, following the infamous “gasolinazo”, or mandatory 15%-20% increase in Mexican gas prices which went into effect on January 1, the mood across the country has significantly deteriorated, with hundreds of demonstrators blocking highways, snarling traffic, raiding gas stations, jeopardizing critical supplies, and looting stores as angry but impotent motorists lashed out at the price surge, which is only going to get worse as inflation spikes even more following the record plunge in the Mexican Peso. As a reminder, the price of oil rose Sunday by as high as 20.1% to 88 cents per liter, with diesel at 83 cents — the equivalent of 12 days of a minimum wage to fill a tank of gas – compared to the U.S.’s seven hours — and the price ceiling will be adjusted daily starting Feb. 18, before letting supply and demand determine them in March.
- US national debt soars by $100 billion. . . in just 8 hours
According to the latest statement issued yesterday afternoon by the Department of Treasury, the US national debt has reached $19,976,826,951,047.80. That’s $19.976 trillion, as of the close of business on Friday December 30, 2016. That number itself is obviously remarkable, just shy of $20 trillion. But what’s even more astounding is that, according to the Treasury Department’s own figures, they STARTED the day with a debt level of ‘just’ $19.879 trillion. So literally in the span of a single 8-hour workday, the US government amassed an astonishing $97 billion in debt. That’s simply incredible– $97 billion is larger than the entire GDP of New Mexico or Luxembourg. In 8 hours.
- What does Donald Trump expect to happen to the price of gold?
Q: What does Donald Trump expect to happen to the price of gold? A: The public record is clear that on a personal, company and image basis, he loves gold. He does not have the fiat money religion prejudice of the central banker politicians. He will be favourable for gold. Q: Please connect this back to the five dimension analysis. A: You want to be able to go into the fifth dimension and bring back useful information and apply it physically. All successful geniuses have done this. Nikola Tesla comes to mend. He explicitly referenced this in his autobiography. If you wish to join a study group exploring this then you can apply by filling out the registration form at the link below and submitting it.
- Graceland Updates: “Gold: The Cost Of Production Is Near”
1. Gold is no longer vulnerable. It has entered a nice buying area. 2. The $1225 – $1200 price zone is both technically and fundamentally important. Here’s why: 3. The average cost of producing gold is now approximately $1210. Fundamentally oriented money managers of size are almost always buyers when gold dips into the cost of production zone. 4. For a look at the technical action, please click here now. Double-click to enlarge. 5. The $1225 – $1200 zone is decent support. It’s not huge support, but it’s decent. I was a modest buyer in the $1220 area this week, after being a seller at $1305 – $1320 last week.
- Bank of England admits ‘Michael Fish' moment with dire Brexit predictions
The Bank of England has admitted its dire warnings of a downturn in the wake of the Brexit vote were a “Michael Fish” moment and said that the economics profession was now in “crisis”. Andy Haldane, the Bank of England’s chief economist, said there was a “disconnect” between political warnings about Brexit and the “remarkably placid” state of the markets, adding that the worst predictions may turn out to be “just scare stories”. He made the concession as new figures suggested Britain was the fastest growing of all advanced economies last year after the services sector defied gloomy forecasts to hit a 17-month high.
- World’s Largest Democratic Country to Endorse Universal Basic Income
With Finland implementing a universal basic income (UBI) experiment that will run for the next two years, it seems that UBI is getting more attention as a viable system. Now, a leading advocate of UBI has said that the government of the world’s largest democratic country, India, is going to release a report endorsing UBI as “basically the way forward.” The report, which will be part of the Ministry of Finance’s annual Economic Survey, is expected to be released this month. India has had considerable experience with UBI pilot programs in the country. Behind these programs is Guy Standing, a founding member of the Basic Income Earth Network, and he is the UBI advocate who says that India’s report will endorse the system.
- Central Banks Have Robbed Us Of the Benefits of Free Trade
The term “globalization” — in the sphere of economics — describes an increase in trade, and greater movement of capital and labor across national and regional boundaries. Free trade has long been among the driving factors behind economic globalization, and for centuries, economists have generally agreed that free trade is an important force in building wealth and economic growth. Even economists who disagree on almost everything else, can often agree that lowering barriers to trade is a good thing.
- In Stunning Last Minute Power Grab, Obama Designates Election Systems As “Critical Infrastructure”
In a stunning last minute power grab by the Obama administration with just 14 days left in his Presidency, the Department of Homeland Security released a statement this evening officially declaring state election systems to be “critical infrastructure.” The statement from DHS Secretary Jeh Johnson defines “election infrastructure” as “storage facilities, polling places, centralized vote tabulations locations, voter registration databases, voting machines” and all “other systems” to manage the election process…so pretty much everything. Of course, it's likely not a coincidence that the DHS made this announcement just hours after the “intelligence community” declassified their “Russian Hacking” propaganda which basically noted that RT has a very effective social media distribution platform while once again providing absolutely no actual evidence.
- 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.
- 5 Tricks Gun-Control Advocates Play
There’s been little talk of gun control this presidential election cycle, although state-level proposals continue to make it onto state ballots. Gun control positions have come down along the usual partisan lines. It was clear from Clinton’s comments in the final presidential debate, for example, that she desires greater restrictions on access to firearms for private citizens. She expressed no such caution about weaponry carried by government employees, of course. While the candidates have declined to make gun control a central issue in the campaign, mainstream media outlets, academics, and pundits continue to press for greater government restrictions and prohibitions on firearms access for private citizens. Meanwhile, of course, government agencies continue to purchase more powerful and more deadly weaponry.
- UK military to begin work on high-energy laser weapons for British armed forces
The UK military has kick-started work on the development of high-power laser weapons after being awarded a £30m contract to build a prototype system. The UK Dragonfire consortium will build a laser weapon “demonstrator” designed to track targets across long distances at land and sea, and under variety of weather conditions. The UK's Ministry of Defence (MoD) is exploring the potential of Laser Directed Energy Weapons (LDEWs) as a means of defending British forces against emerging threats from drones and ballistic missiles. If the prototype is deemed successful, service-ready laser weapons will be considered for distribution across the UK military.
- Grave Danger Elite Bankers Might Make Trump Fail-Lior Gantz
Financial expert Lior Gantz says there is good news and bad news for the economy with the election of Donald Trump. Gantz explains, “If he changes the equation, it could cause a lot of inflation in the U.S. U.S. banks are so liquid and have so much excess cash because of TARP programs and QE programs that this could prompt them to start lending, and lend to the wrong people. It could prompt the government to start issuing increased food stamps, universal unemployment checks and all kinds of stuff that can create large inflation in the U.S. So, that is one side that is problematic. The other side is very spectacular for the U.S. economy because Trump is doing a lot of things that should have been done years ago: deregulation, cutting back on taxes, cutting the red tape and making sure that businesses are more comfortable with opening new branches in the U.S. The best indicator of this is the Russell 2000 index that is up much more than the Dow because the small cap companies are mostly based in the U.S., and the large cap companies are international.”
- Corporations Control Our Lives
In our nation, finance has a hold on almost every single part of our lives – from the day we’re born, until we take our last breath. Capitalism and the quest for larger profits have taken hold of our healthcare, our education, our homes, our communication, and even our government. Today, most babies are born in for-profit hospitals, and their medical claims are paid by for-profit insurance. As children grow, many go to for-profit charter schools or private schools, and our public education system continues to crumble. Young adults are forced to deal with for-profit lenders to go to college at for-profit universities, and everything from their backpack to their first home will generate a profit for someone on Wall Street.
- Race to replace Ecuador’s Correa begins amid corruption scandal, uncertainty
Ecuador kicked off its presidential campaign Tuesday amid a looming economic crisis, a lingering corruption scandal and a thirst for change that analysts say may hamper President Rafael Correa’s hopes of putting a successor into power to continue his “Citizens Revolution.” Lenín Moreno, Correa’s handpicked candidate and one-time vice president, is leading polls ahead of the Feb. 19 race against a divided opposition. However, if he doesn’t win in the first round with at least 40 percent of the vote and a 10-point lead over his nearest rival, he’ll be forced into an April 2 runoff that could be tough. “The government has to put all its meat on the grill for this first round,” said Sebastian Hurtado with the Quito-based political analysis group Profitas. If the opposition rallies behind a single candidate in the second round, “ it will be much more difficult,” he said.
- 2017: a Volatile Year from All Angles – Where to now… after what 2016 dished out?
First, there was the surprise upset of the presidential election of dear old Donald. Then came the surprise shift in sentiment about the election. Before, he was a wrecking ball. After, he’s suddenly Jesus walking on water. Never mind that he’s already pissed off China… twice! Or that many are worried about his overly cozy relationship with “Darth” Putin, as with his new Secretary of State, Rex Tillerson, who is also cozy with Putin. And let’s not forget the markets that were already overvalued suddenly breaking up irrationally on promises that Trump can deliver sustainable growth rates of 3% to 4% again. So, we’ll just grow our way out of this big fat bubble, shall we? Ha! That has never happened – not once in history – and there’s NO CHANCE this will be the first time… not given our aging populations, low productivity and unprecedented debt burdens!
- Power & Profit Fuel War on Cash in Europe
In the wake of the attack on the Christmas market in Berlin in December, the European Commission granted customs and police authorities sweeping new powers to seize cash or precious metals carried by “suspect individuals” entering the EU. People carrying more than €10,000 euros in cash already have to declare this at customs when entering the EU. The new rules would allow authorities to seize money (or precious metals or bitcoin) below that threshold “where there are suspicions of criminal activity.” It was the latest step in the War on Cash. The powers that want to kill off cash include private and central banks, fintech firms, Silicon Valley magnates like Tim Cook and Bill Gates, telecom behemoths, credit card giants, assorted NGOs, a bewildering alphabet soup of UN agencies and many national governments. They all have their own disparate motives for taking out physical money.
- How Bad Will the “Bond Massacre” Get? Worse “than the 1994 ‘Bond Massacre,'” with “sustained double-digit losses on bonds, subpar growth in developed markets, and balance sheet risks for banking systems….”
The backdrop: after 36 years of bond bull market, the amount of US bonds has ballooned to $47 trillion, up 24% from just ten years ago: US Treasurys ($19.8 trillion), Municipal bonds ($3.8 trillion), Mortgage related bonds ($8.9 trillion), Corporate bonds ($8.6 trillion), Federal Agency bonds ($2 trillion), Money Markets ($2.6 trillion), Asset backed Securities ($1.3 trillion), Bonds dwarfs the US stock market capitalization ($27 trillion). Bonds are a global phenomenon with even bigger bubbles elsewhere, particularly in NIRP countries, such as those in Europe, and in Japan. That’s why bonds matter. They’re enormous. And the damage they can do to investors is huge.
- Masses Shocked By Philly Beverage Tax Impact
Philadelphia rang in the new year with a controversial new beverage tax on soda and other sugar-sweetened drinks. The tax, which went into effect on Sunday, is the first one of its kind in a major city in the United States. While the tax is technically 1.5 cents per ounce, which doesn’t sound too terrible, when buying a 10-pack of 20 oz bottles those numbers climb pretty quickly. In this case, a 10-pack of Propel flavored water that originally retailed for $5.99 had an additional three dollars tacked on to it in taxes. Chuck Andrews picked up a $1.77 gallon jug of tea, got home and looked at his receipt. “When I read the receipt I’m like, ‘Wait a minute. I paid more in tax than I did for the product,'” Andrews said.
- Dow 20K Is Just The Beginning Of A Massive Rally In 2017
Interest rates have rocketed since the election. In the past month, the yield on the 10-year U.S. Treasury note – a bellwether debt security for long-term interest rates – is up 60 basis points to post the largest monthly spike in three years. Interest rates rose into the Federal Reserve’s most recent FOMC meeting, on Dec. 13 and 14. Fed officials did the expected at the meeting and raised the range on the federal funds rate 25 basis points to 0.75%-to-1%. After the meeting, Fed Chair Janet Yellen hinted that three more increases could be in store for 2017.
- Doug Kass Explains Why He Is Aggressively Buying Gold
The broad consensus is to own stocks and to sell gold. But, as I have discussed since 2003 in my annual Surprise Lists, the broad consensus of investors is often wrong. Indeed, it is often the case that the very coalescing of popular opinion behind an investment tends to eliminate its profit potential. While the animal spirits may have taken over the equity markets and have ignored the gold market, we should recall that there is a reason why Keynes called them animal and not human spirits. That's because animals are a lot dumber than humans! As excited as investors are about stocks, they are now uninterested in gold.
- Pastor Lindsey Williams introduces Pastor David Bowen – January 5, 2017
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 30, 2016 to January 5, 2017:
- 10 Ways That Donald Trump Could Try To Reverse The Curse That Obama Has Put On America
When Barack Obama betrayed Israel at the United Nations, that put a curse on our nation. But that doesn’t mean that we have to stay cursed. In the coming days, the new Trump administration should immediately start taking steps to reverse the curse that we are under as a result of what Obama has done. Perhaps if Donald Trump takes strong enough steps to try to undo what Obama has done, instead of being cursed we can once again return to being blessed. One thing that Trump will not be able to undo is UN Security Council Resolution 2334. It would take another UN Security Council resolution to undo it, and the votes simply wouldn’t be there. UN Security Council Resolution 2334 passed by a vote of 14 to zero with the U.S. abstaining. And even if Trump could miraculously pull together enough votes, one of the other permanent members of the Security Council (Russia, China, the UK or France) could just veto it. So it looks like we are stuck with UN Security Council Resolution 2334, but that doesn’t mean that Trump can’t do anything to try to address this matter.
- House Passes Bill To Undo Months Of Obama Regulations With Just One Vote
The House of Representatives passed legislation on Wednesday giving Congress the power to kill so-called “midnight rules”, months of recently enacted Obama administration regulations with just one vote, as Republicans charged ahead on their campaign to strip down federal regulations. If passed by the Senate and signed by President-elect Donald Trump, the legislation would amend the Congressional Review Act to allow lawmakers to bundle together multiple rules and overturn them en masse with a joint resolution of disapproval. The White House has already threatened to veto the bill if it were to make it to President Obama's desk before he leaves office. “Because outgoing administrations are no longer accountable to the voters, they are much more prone to issue midnight regulations that fly in the face of the electoral mandate the voters just gave the new, incoming administration,” said House Judiciary Committee Chairman Bob Goodlatte before the vote. “Waves of midnight rules can also be very hard for Congress or a new administration to check adequately.”
- Global Debt Hits 325% Of World GDP, Rises To Record $217 Trillion
While we eagerly await the next installment of the McKinsey study on global releveraging, we noticed that in the latest report from the Institute for International Finance released on Wednesday, total debt as of Q3 2016 once again rose sharply, increasing by $11 trillion in the first 9 months of the year, hitting a new all time high of $217 trillion. As a result, late in 2016, global debt levels are now roughly 325% of the world's gross domestic product. In terms of composition, emerging market debt rose substantially, as government bond and syndicated loan issuance in 2016 grew to almost three times its 2015 level. And, as has traditionally been the case, China accounted for the lion's share of the new debt, providing $710 million of the total $855 billion in new issuance during the year, the IIF reported. Joining other prominent warnings, the IIF warned that higher borrowing costs in the wake of the U.S. presidential election and other stresses, including “an environment of subdued growth and still-weak corporate profitability, a stronger (U.S. dollar), rising sovereign bond yields, higher hedging costs, and deterioration in corporate creditworthiness” presented challenges for borrowers.
- Donald Trump Was Born Exactly 700 Days Before Israel Became A Nation
Do you want to see something amazing? If you go to any of the major search engines and ask when Donald Trump was born, you will be told that it happened on June 14th, 1946. And then if you go to any of the major search engines and ask when Israel became a nation, you will be told that it happened on May 14th, 1948. If you take both of those dates and plug them into the handy calculator provided by timeanddate.com, you will discover that Donald Trump was born exactly 700 days before Israel became a nation. I was first alerted to this incredible fact by Daily Crow. Here are some other incredible numbers that link Trump and Israel from that same source… -Israel was 77 days old exactly 777 days after Donald Trump was born. -Israel’s 70th birthday will come exactly 700 days after Trump’s 70th birthday. -Donald Trump won the election on Israeli Prime Minister Benjamin Netanyahu’s 7th year, 7th month and 7th day in office. On top of everything else, Donald Trump will be 70 years, 7 months and 7 days old on his first full day in the White House.
- Three ridiculous ways Congress plans to Keep America Safe Again
It’s amazing that this is what passes as Defense policy… THIS is how they plan on spending hundreds of billions of dollars to keep you safe– sending useless reports to their central bureaucracy. Then, of course, there’s section 1287, my personal favorite. Section 1287 requires that, within 180 days of the bill being signed to law, a new agency called the Global Engagement Center will be created under the State Department. The Global Engagement Center’s job is to combat FAKE NEWS around the world, with sweeping powers to train and fund legions of journalists and bloggers to inundate the world with US propaganda. Politicians have been praising the idea for the Global Engagement Center as a landmark new tool to keep Americans safe. This is totally bogus; the US government has had propaganda and psychological warfare resources for decades.
- Ford to scrap Mexico plant, invest in Michigan; CEO cites Trump policies
Before he's even taken office, President-elect Donald Trump has proven to be quite the job creator. Ford Motor Company announced Tuesday it will cancel a $1.6 billion plant planned for Mexico and will instead invest $700 million in a Michigan assembly plant, directly tying the decision to “pro-growth policies” championed by President-elect Donald Trump. Trump had previously been critical of Ford’s plans to build in Mexico. After the announcement, Trump tweeted a link to a story about the Ford decision and then added in a subsequent message: “Instead of driving jobs and wealth away, AMERICA will become the world's great magnet for INNOVATION & JOB CREATION.”
- Scotland set to pilot universal basic income scheme in Fife and Glasgow
A councillor has backed the introduction of a universal basic income in Scotland because he says it is the best way to tackle poverty. A radical scheme to give every citizen a universal basic income (UBI), regardless of whether or not they work, is set to be piloted by two Scottish councils this year. Labour-run Glasgow and Fife councils are designing trial schemes following meetings held late last year. It has not yet been announced what level the basic income will be set at, but the councils are to proceed with the pilots, subject to sufficient funding being secured.
- 47% of Jobs Will Disappear in the next 25 Years, According to Oxford University
The Trump campaign ran on bringing jobs back to American shores, although mechanization has been the biggest reason for manufacturing jobs’ disappearance. Similar losses have led to populist movements in several other countries. But instead of a pro-job growth future, economists across the board predict further losses as AI, robotics, and other technologies continue to be ushered in. What is up for debate is how quickly this is likely to occur. Now, an expert at the Wharton School of Business at the University of Pennsylvania is ringing the alarm bells. According to Art Bilger, venture capitalist and board member at the business school, all the developed nations on earth will see job loss rates of up to 47% within the next 25 years, according to a recent Oxford study. “No government is prepared,” The Economist reports. These include blue and white collar jobs. So far, the loss has been restricted to the blue collar variety, particularly in manufacturing.
- Is the 2nd Half of 2017 when Sears Finally Kicks the Bucket?
Sears Holding Corp., which owns the Sears and Kmart stores and is run by hedge-fund manager Eddie Lampert, who is also its largest shareholder, pulled off another little trick when it announced today that it had lined up $200 million “to fund its operations,” but not cash, which is what Sears needs more than anything, given the rate at which it is burning it, but a Secured Standby Letter of Credit, which may be expanded to $500 million, “with the consent of the lenders.” This announcement gives some clues that after many years of disappointment, Sears doom-and-gloomers might finally approach the end of their long wait.
- The Death Of The U.S. Petrodollar, and What Comes After
In the following interview, Turd Ferguson of TF Metals Report interviews the one and only Dr. Jim Willie, in what is undoubtedly one of the best Dr. Willie interviews I’ve ever heard. The article that follows the interview is also from TF Metals Report, and it’s written by Grant Williams, who is a Singapore-based hedge fund manager. First, the interview covers three main areas of discussion. First, Ferguson and Dr. Willie review the generally accepted narrative that has been coming from the mainstream media more or less since Donald Trump won the election. We keep hearing how bonds are selling off, which is sending interest rates higher, and making the stronger Dollar. There’s nothing to worry about, and the Dow will be at 25,000 in no time, right?
- America’s Economy Before Versus After Obama
Something that is happening with increasing regularity across today's mainstream media, is that regardless of what subject matter is being discussed, and despite the need today more than ever before for Americans to have access to accurate information that could prove vital for the safety and well-being of their families, almost without exception the information the mainstream media is providing as “real news,” is almost always woefully incomplete, or lacking any information that resembles news with an ounce of journalistic integrity. He who controls information, controls absolutely, and “The Powers That Be” have made sure that we the people do not have access to real information. Instead, what the mainstream media calls “real news,” is little more than sound bites and propaganda intended to keep the masses distracted and pacified.
- A great story from when America was still the Land of Opportunity
Last week during a long overdue vacation, a close friend of mine recommended reading the autobiography of Rich DeVos called Simply Rich. DeVos is a billionaire entrepreneur who started countless ventures during his nine decades on this earth. Back in the 1946, for example, DeVos started an airline… virtually overnight. He just bought an airplane and started flying people around. No rules. No regulations. They didn’t even have an airport. The local airfield north of Grand Rapids, Michigan, where they were based, hadn’t been completed yet. As DeVos recounts in his book, “We put pontoon floats on our plane and took off and landed on the Grand River, which ran along the airfield.” His first office at the airfield was an old chicken coop that he found, washed in the river, and re-painted. The following year he and his partner opened up one of Michigan’s first “Drive Through” restaurants at the airfield, catering to passengers, workers, flight students, and spectators who came by in the evenings just to marvel at the planes.
- A Terrifying Warning That The West Is Now Approaching The ‘Brick Wall’
As we kickoff the first week of trading in January, today the man who has become legendary for his predictions on QE, historic moves in currencies, warned King World News that the West is now approaching the “brick wall.” West Rapidly Approaching The “Brick Wall” Egon von Greyerz: “On the first day of the new year it would be totally natural to forecast what the likely events and trends will be for the coming year. A lot of experts around the world will predict a number of ‘new’ events as if a lot of things will change just because we are entering a new year…
- 2017 SHOCKER – Banks Near All-Time Record Long Positions In Major Market, Plus A Look At Gold
As we get ready to head into 2017, banks now have near all-time record long positions in a major market, plus a look at gold. The following charts are from SentimenTrader. Commercial Long Positions Near All-Time Record! The commercials have continued to dramatically increase their long positions in the U.S. 10-Year Treasury market to near all-time record levels.
- The Almighty Dollar and the Currencies that Crushed it in 2016
Much of the strength of the dollar in 2016 has been ascribed to rising interest rates in the US and minuscule tightening by the Fed – or rather “removing accommodation,” as it likes to say – even as other central banks still engage in QE and negative interest rate absurdities. So the US became a destination for the hot money. By December 20, the dollar reached the highest point since December 2002 against the basket of currencies in the Dollar Index, though it has since eased off somewhat since then. But the Dollar Index contains only six currencies: euro, yen, pound sterling, Canadian dollar, Swedish krona, and Swiss franc. It doesn’t even include the currencies of two of the four largest US trading partners, Mexico and China. So how has a broader range of currencies fared against the dollar? Turns out, some soared, others plunged.
- US Government Attacks Drudge Report? Conservative Website Down Because Of Distributed Denial Of Service Attack, Matt Drudge Tweets
A tweet from conservative media icon Matt Drudge's verified Twitter account Thursday night appeared to accuse the government of interfering with his website, DrudgeReport.com, just hours after the Barack Obama administration announced new sanctions against Russia over election hacking. “Is the US government attacking DRUDGE REPORT? Biggest DDoS since site's inception. VERY suspicious routing [and timing],” the tweet to Drudge's 457,000 followers read. There were no other tweets from the account at the time. A large-scale distributed denial of service attack, or DDoS, can cause major Internet disruptions. In the past, such attacks have shut down major websites such as Twitter, Spotify, Netflix, Amazon, Tumblr, and Reddit. The attack sends a server many illegitimate requests to make it hard for real requests to get through, effectively shutting down the site.
- Bitcoin Surges Above $1,000 As China Unveils New Capital Controls
As noted yesterday, for the first time in three years, and only the second time in history, bitcoin rose above $1,000 in Yuan-denominated Chinese trading, however it was limited to the lower side of this “round number” psychological barrier in US trading, as BTC flirted with $999.99 for most of the day on the popular Coinbase exchange, without crossing it. Overnight, however, Chinese demand proved too great and US markets had no choice but to arb the difference. So with Bitcoin trading in China at an implied price of over $1,050 at this moment, bitcoin finally soared above $1,000 in the US as well, trading just around $1,024 on Coinbase as of this moment.
- China tightens control of personal forex purchases
China has tightened checks on citizens exchanging foreign currency in anticipation of renewed downward pressure on the renminbi in the new year. Banks have been asked to improve standards for verifying customers’ identities and to report “large or questionable transactions”, the State Administration of Foreign Exchange (Safe) said in a public statement at the weekend. “There have been leaks in China’s system of personal foreign exchange purchases,” the statement said, giving as an example the way individuals and companies avoid capital controls on overseas investments by disguising their transactions as goods purchases.
- China’s Credit Engine Is Running Out of Gas
The People’s Bank of China faces a reckoning after revving its credit engine for years. Three conditions suggest traditional financing and shadow banking are due to cool: Restrictions on property markets are poised to start weighing on mortgage issuance; bond market turbulence has spurred widespread cancellation of new corporate issues; and banks face more curbs on selling wealth-management products amid a regulatory tightening. With economic expansion on pace to meet the government’s objective and inflation pressure rising, leaders are signaling tighter monetary policy as they seek to reduce risks. The PBOC also cut language from its last quarterly statement saying it would reduce lending costs.
- Deutsche Bank chairman rules out European merger – Frankfurter Allgemeine
Deutsche Bank (DBKGn.DE) Chairman Paul Achleitner has ruled out a European merger or a state bailout after the lender's mortgage settlement with the U.S. Department of Justice, Frankfurter Allgemeine Sonntagszeitung reported. The bank, Germany's biggest, last week announced a $7.2 billion (5.83 billion pound) settlement with the U.S. Department of Justice over its sale and pooling of mortgage securities in the run-up to the 2008 financial crisis. “The management board in principle looks at everything that could help the business,” Achleitner said in an interview with the weekly newspaper published on Sunday.
- The New World Order Has Collapsed – Predictions for 2017
The beauty of our current situation lies in the sheer unpredictability of it all. A lot of long-term plots and schemes got derailed this past year, and even one of the great architects of the project, Zbigniew Brzezinski, has declared the New World Order agenda obsolete. The Globalists went for too much, too soon, and inadvertently triggered a worldwide populist uprising. Heading into 2017, there are very few safe bets. Certain trends are evident, and a few projections can be made. Barring a wave of suicides and single-car accidents, a tsunami of tell-all books about the Hillary Clinton campaign should hit the shelves by spring. Every excruciating detail of working for a brain-damaged alcoholic closet lesbian psychopath will be revealed. Her vicious temper and open contempt for her staff will become the stuff of political legend. By November, it’ll be hard to find anyone willing to admit that they voted for her. I doubt that we’ll ever get to the bottom of the Podesta Pizzagate emails. Whatever he’s referring to, it sure as hell isn’t pizza. Maybe drugs, but it doesn’t sound like it. I wouldn’t want to be in close proximity to John Podesta. He looks unlucky to me.
- U.S. Special Operations Numbers Surge In Africa's Shadow Wars
AFRICA HAS SEEN the most dramatic growth in the deployment of America’s elite troops of any region of the globe over the past decade, according to newly released numbers. In 2006, just 1% of commandos sent overseas were deployed in the U.S. Africa Command area of operations. In 2016, 17.26% of all U.S. Special Operations forces — Navy SEALs and Green Berets among them — deployed abroad were sent to Africa, according to data supplied to The Intercept by U.S. Special Operations Command. That total ranks second only to the Greater Middle East where the U.S. is waging war against enemies in Afghanistan, Iraq, Syria, and Yemen. “In Africa, we are not the kinetic solution,” Brigadier General Donald Bolduc, the chief of U.S. Special Operations Command Africa, told African Defense, a U.S. trade publication, early this fall. “We are not at war in Africa — but our African partners certainly are.”
- Get Ready for Passport “Globalization”
“The bottom line is that anyone can be ISIS. We therefore need an approach to securing civilized societies that doesn't allow individuals to hide behind the cloak of Western passports… The time has come for a “global passport,” a parallel digital certification of a person's identity, background, criminal record, travel history, and other details. The digital record would be regularly updated based on databases from airlines, customs agencies, banks and other sources, and could be managed by an independent international authority.” The quotation above comes from CNN, an American news network that has done such an exemplary job in recent years in serving as a mouthpiece for the US Government. The argument for global passports is a familiar one: “You are in danger of being killed by terrorists. We will save you by removing yet another of your freedoms.” Or, as Hermann Goering said, “The people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to danger. It works the same way in any country.”
- What Is The Obama Regime Up To? — Paul Craig Roberts
Obama has announced new sanctions on Russia based on unsubstantiated charges by the CIA that the Russian government influenced the outcome of the US presidential election with “malicious cyber-enabled activities.” The US Department of Homeland Security (DHS) has issued a report “related to the declaration of 35 Russian officials persona non grata for malicious cyber activity and harassment.” The report is a description of “tools and infrastructure used by Russian intelligence services to compromise and exploit networks and infrastructure associated with the recent U.S. election, as well as a range of U.S. government, political and private sector entities.” The report does not provide any evidence that the tools and infrastructure were used to influence the outcome of the US presidential election. The report is simply a description of what is said to be Russian capabilities.
- What is Henry Kissinger Up To? — Paul Craig Roberts
The English language Russian news agency, Sputnik, reports that former US Secretary of State Henry Kissinger is advising US president-elect Donald Trump how to “bring the United States and Russia closer together to offset China’s military buildup.” If we take this report at face value, it tells us that Kissinger, an old cold warrior, is working to use Trump’s commitment to better relations with Russia in order to separate Russia from its strategic alliance with China. China’s military buildup is a response to US provocations against China and US claims to the South China Sea as an area of US national interests. China does not intend to attack the US and certainly not Russia.
- Keiser Report: Outlook for 2017
We discuss the outlook for 2017: from Trump’s first 100 hours, not days to fake news and a market crash following the biggest rally since Hoover. In the second half Max is joined by Gerald Celente of trendsresearch.com to discuss the big trends of 2017: Rustbelt 2.0, economic disorder and ‘Sell, Buy China’.
- “Trumpflation” Will Have Big Ramifications For Gold In 2017
Something is brewing in the economy. Since the election of Donald Trump, interest rates have spiked, copper prices have surged, and various sectors of the stock market have swung bigly on speculation of what “Trumponomics” will bring. Scores of triumphant Republican commentators are already painting a bullish picture of the Trump economy. The GOP – which will control the White House, Congress, and most state governments – has a rare opportunity to implement a pro-growth agenda. Republicans squandered their last great window of opportunity. George W. Bush and his Congressional allies grew government spending at a faster clip than the economy and saddled the country with trillions of dollars in new debt.
- Will Gold & Silver Finally Bottom In 2017?
There has indeed been an ongoing cleansing in the precious metals market since the spike highs five years ago. Remember, there have been calls for a massive turnaround in prices for both gold and silver since 2013…2014…again, even more so in 2015. 2016 has just freshly passed, and both metals continue to flirt with their lows from a year ago. A few years ago, all the rage was for the man and woman on the street to be buying gold and silver coins, long lines, especially in China, forming for blocks to make purchases for the inevitable rally “sure” to soon follow. During that time, we mentioned that individuals, small traders, et al, rarely, if ever, get in at the bottom or get out at the top of market turns. Both gold and silver were much higher, a few years ago, but the moneychangers continue to prevail as the “cleansing process” is still ongoing, tiring out the masses who had been certain that gold and silver would soar to $5,000+ in gold, $200-$300 in silver.
- Barack Obama’s Legacy: War, Debt and Poverty
As 2016 winds down, so does Barack O’Bomber’s $80 million in paid vacations and his legacy of war, debt and poverty. It’s quite amazing how much one man can ruin a country while playing so much golf. WAR Just 12 days after being elected, Barack Obama was nominated for the Nobel Peace Prize. He accepted the prize in Oslo on December 10, 2009. It was assumed that he would shut down Guantanamo Bay and end the military occupations of Iraq and Afghanistan.
- Finland to pay unemployed basic income of $587 per month
Finland has become the first country in Europe to pay its unemployed citizens a basic monthly income, amounting to 560 euros ($587), in a social experiment hoped to cut government red tape, reduce poverty and boost employment. Olli Kangas from the Finnish government agency KELA said Monday that the two-year trial with the 2,000 randomly picked citizens who receive unemployment benefits kicked off Jan. 1. Those 2,000 unemployed chosen will receive 560 euros every month, with no reporting requirements on how they spend it. The amount will be deducted from any benefits they already receive. The unemployment rate of Finland, a nation of 5.5 million, stood at 8.1 percent in November with some 213,000 people without a job — unchanged from the previous year.
- European Commission Threatens Widespread Asset Confiscation
The “war on terror” continues… The US and the North Atlantic Terrorist Organization (NATO) attacked Libya and Syria and began transporting Muslims to Europe as a means of destabilization. They have also conducted numerous other false flag attacks, such as Charlie Hebdo, by which to further confuse and imprison the local population. The most recent was the so called “terror attack” which occurred several days before Christmas in Berlin, Germany. A truck was deliberately driven into a crowded market killing 12 people and leaving 48 injured. Now it reaches a logical conclusion with cash and gold being confiscated in the name of making people “safe”. There is always an ulterior motive which becomes clearly apparent after such “terror” events. It is no coincidence that in Europe, the European Commission just made a new capital control proposition.
- Obama Chaos Before Leaving Office, Obama Punishes Russia Hacking & Economic Warning
The Obama Administration basically stabbed Israel, its top U.S. Middle East ally, in the back by not stopping a UN resolution that makes the Western Wall occupied Palestinian territory. It also makes building Israeli settlements in the West Bank an international crime. This is all taking place less than thirty days before Trump’s inauguration. Is Obama creating as much chaos as possible before he leaves office? I say YES!!! On another front, President Obama has expelled 35 Russian officials from the U.S. because of allegations of Russian interference in the 2016 presidential election. The Russians say Obama is “paranoid” and denies the charge. Now, the Kremlin is vowing retaliation for expelling its diplomats and seizing Russian property in the U.S. Meanwhile, Russian President Vladimir Putin has negotiated a ceasefire in Syria without any involvement from the Obama Administration.
- 2017 Predictions on Trump, Gold, Silver, Housing, Stocks, Bonds & Antarctica-Clif High
Internet data mining expert Clif High says forget about the rumors and predictions of Donald Trump being blocked from taking office. High says Trump will be sworn in as the 45th President and explains, “I don’t have any data that says, hard stop, Trump is assassinated. I don’t have that . . . . I am willing to back my data with real money, an ounce of silver, and I have an ounce of silver, and I would be willing to bet the inauguration part goes through smoothly given the emotional data sets we have now.” High, who calls what he does “Predictive Linguistics,” mines the internet and collects billions of data points to produce forecasts of the future. On the financial markets, High simply says, “We’re screwed. . . . The equity markets in our data sets are highly manipulated. So, if you ask will there be a crash? I say there already is a crash. Everybody that is not part of the financial system at the top end is currently living in a depression, and the media does not acknowledge this.”
- Army’s brain: Russia’s ‘colossal’ supercomputer helps predict wars, defense minister says
A “colossally powerful” supercomputer installed at Russia’s military headquarters helps the country’s armed forces tackle emerging threats by analyzing previous conflicts, such as the Yugoslavian war and the like, Defense Minister Sergey Shoigu said. The supercomputer is a key part of the headquarters’ IT infrastructure and is so powerful that the military uses less than half of its capacity, Shoigu told Rossiya 24 TV channel, which filmed a documentary about Russia’s National Defense Management Center (NDMC). “It has open architecture – you can add or remove specific elements, build up, increase and expand its capacities, it has plenty of them,” the minister said. The center’s supercomputer was designed to predict the development of current or future wars by analyzing the current security environment and drawing conclusions from past conflicts. It not only stores data on all major wars and conflicts, but also helps predict upcoming ones, Shoigu explained.
- Germany Unveils “Cash Controls” Push: Ban Transactions Over €5,000, €500 Euro Note
It was just two days ago that Bloomberg implored officials to “bring on a cashless future” in an Op-Ed that calls notes and coins “dirty, dangerous, unwieldy, and expensive.” You probably never thought of your cash that way, but increasingly, authorities and the powers that be seem determined to lay the groundwork for the abolition of what Bloomberg calls “antiquated” physical money. We’ve documented the cash ban calls on a number of occasions including, most recently, those that emanated from DNB, Norway’s largest bank where executive Trond Bentestuen said that although “there is approximately 50 billion kroner in circulation, the Norges Bank can only account for 40 percent of its use.” That, Bentestuen figures, “means that 60 percent of money usage is outside of any control.” “We believe,” he continues, “that is due to under-the-table money and laundering.” DNB goes on to say that after identifying “many dangers and disadvantages” associated with cash, the bank has “concluded that it should be phased out.”
- Three Mini-Bubbles Are Bursting
The world has gotten so used to ultra-low interest rates that even economists and money managers seem to be shocked by what happens when rates start creeping back towards normal levels. Some of the mini-bubbles that formed in an essentially free-money environment are now starting to leak. Notably: US Housing – While the action in this sector is nothing like the raging mania of the 2000s, prices in many hot US markets are at all-time highs, while affordability is at or near an all-time low. And now rising mortgage rates are beginning to bite. US Auto Sales – Cars and trucks have been one of the economy’s bright spots for several years — which seems to have gotten everyone just a little too excited. Auto financing practices have lately begun to resemble those of the subprime mortgage bubble: Today’s average loan is for more money, lasts much longer, and is held by a much weaker credit than ever before. Now, with interest rates rising and pretty much every potential buyer already locked into a car mortgage, the bubble optimism is evaporating. China – That the world’s second largest economy — with a debt load that has quintupled in the past seven years — can be called a “mini-bubble” illustrates the size of the meta-bubble in which it has emerged.
- Trump’s Border Wall, Deportation Plans Face Pushback From GOP
Donald Trump’s pledges to deport undocumented immigrants and build a U.S.-Mexico border wall helped fuel Republicans’ surprising election victories, but they now face growing challenges from fellow party members. Three Republican senators are working with Democrats to shield about 750,000 young undocumented immigrants from deportation if Trump cancels a 2012 order from President Barack Obama that let them stay in the U.S.
- Brits Are Hoarding Cash Amid “Economic Uncertainties” As FTSE Hits Record High
Despite the FTSE 100 soaring to new record highs, Britons are holding onto their cash in a sign that they may be hunkering down in the face of economic uncertainties, according to the British Bankers Association. As Bloomberg reports, personal deposits grew an annual 4.8 percent in November, data compiled by the BBA show. They increased by 32.4 billion pounds ($39.7 billion) in the first 11 months of the year, outstripping the 19.8 billion-pound growth in the same period of 2015. But while the economy has held up well so far, most economists foresee a slowdown in 2017 as businesses seek more clarity on the nation’s future relationship with the world’s largest trading bloc.
- Mining 24 Hours a Day with Robots
Mining companies are rolling out autonomous trucks, drills, and trains, which will boost efficiency but also reduce the need for human employees. Each of these trucks is the size of a small two-story house. None has a driver or anyone else on board. Mining company Rio Tinto has 73 of these titans hauling iron ore 24 hours a day at four mines in Australia’s Mars-red northwest corner. At this one, known as West Angelas, the vehicles work alongside robotic rock drilling rigs. The company is also upgrading the locomotives that haul ore hundreds of miles to port—the upgrades will allow the trains to drive themselves, and be loaded and unloaded automatically. Rio Tinto intends its automated operations in Australia to preview a more efficient future for all of its mines—one that will also reduce the need for human miners. The rising capabilities and falling costs of robotics technology are allowing mining and oil companies to reimagine the dirty, dangerous business of getting resources out of the ground.
- Italy's Insolvent Monte Paschi To Issue €15 Billion In Debt
For a glimpse into just how insane modern finance and capital markets are, look no further than Italy's thrice insolvent (in three years) bank Monte Paschi, which after failing to finalize a private, is finalizing the terms of its nationalization with the Italian government: a rescue which will cost Italian taxpayers at least €6.6 billion, and likely more. The bailout, however, is not the punchline. What is, is that according to Reuters, Monte dei Paschi di Siena – which has yet to be bailed out, plans to issue no less than €15 billion of debt next year “to restore liquidity and boost investor confidence.” According to daily La Repubblica, Monte dei Paschi would issue the debt in the form of bonds and commercial paper. A third of that debt would have a short-term maturity date, while the rest would mature in three years, it added. The bank could not immediately be reached for comment.
- John McAfee on Russian hacking allegations: “If it looks like the Russians did it, then I can guarantee you it was not the Russians”
Following the release of an FBI report outlining Russia's alleged role in hacking the 2016 election, Larry King sat down to talk with tech pioneer John McAfee to discuss the current state of cybersecurity. McAfee is no stranger to cybersecurity. As the developer of the first commercial antivirus program, he has been a major player in the industry for the past 50 years. He is also the CEO of MGT Capital Investments, and an outspoken former presidential candidate for the Libertarian Party. Based on all of his experience, McAfee does not believe that Russians were behind the hacks on the Democratic National Committee (DNC), John Podesta's emails, and the Hillary Clinton presidential campaign. As he told RT, “if it looks like the Russians did it, then I can guarantee you it was not the Russians.”
- Republicans Consider Obamacare Repeal Without A Replacement Strategy
Republicans have spent a lot of time in recent weeks vowing to repeal Obamacare. But, it is quickly becoming apparent that, since precisely zero people expected the 2016 election cycle to end with Republican control of all three branches of government in Washington D.C., no viable alternative has been fully vetted and stands ready to replace the failed legislation. According to Bloomberg, the lack of a fully negotiated replacement option could result in Republicans repealing the bill on a piecemeal basis with a replacement to be implemented at a later date. While Trump has repeatedly called for expanding the use of Health Savings Accounts and allowing insurance companies to sale policies across state lines, none of those policies have been officially written into a bill at this point. And while dozens of Obamacare alternatives have been introduced in Congress over the years none of them have actually received enough support to get off the ground.
- Walking your children home from school and driving while caffeinated are now felony crimes in police state America
In Magnolia, Texas, it is now a felony crime to walk your own children home from school. Er, I mean the “government indoctrination center.” Seriously, parents can now be charged with serious crimes for merely meeting their children at the school and walking them home. “The principal has decided that no matter how close the student lives to the school, the student must either take the bus, or the parent must wait in a long car pickup line,” reports Fox 26 in Houston. “Try to walk your student off the campus and you could face criminal charges… Fox26 knows of 2 other parents who were just threatened with arrest.” This is yet more evidence that even in Texas, the government thinks it owns your children. Parental rights are being obliterated across the country at a breathtaking pace, including in California where the state can now mandate government injections of your children with aluminum, mercury and other toxic substances that cause autism and neurological disorders.
- 5 Pieces of News That Show Global Warming Still Isn't Happening The Way Leftists Say
As 2016 comes to a close, it's important to realize that the left's continuing hysteria over global warming still does not match reality. The current facts show that there are not rising temperatures at alarming levels and, if anything, the planet seems to be experiencing more of a cooling phase than a warming phase. Here are five pieces of news that show that global warming is not causing armageddon. 1. The National Oceanic and Atmospheric Administration's (NOAA) graphs showing accelerated increases in temperature appear to be fabricated. 2. The evidence points to record amounts of cold weather. 3. The polar bear population seems to be thriving. 4. There were 50 peer-reviewed scientific papers in 2016 that concluded there was not wide-scale global warming. 5. The weather trends don't indicate that anything severe is occurring.
- Europe Proposes Confiscating Gold In Crackdown On “Terrorist Financing”
Hot on the heels of China gold import restrictions, and India's demonetization and gold confiscations, The European Commission proposed tightening controls on cash and precious metals transfers from outside the EU under the guise of shutting down one route for funding of militant attacks on the continent, following the Berlin Christmas attack. China has already begun de facto gold import restrictions, and as Jayant Bhandari detailed previously, India is experiencing a continuation of new social engineering notifications, each sabotaging wealth-creation, confiscating people’s wealth, and tyrannizing those who refuse to be a part of the herd, in the process destroying the very backbone of the economy and civilization. There are clear signs that in a very convoluted way, possession of gold for investment purposes will be made illegal. Expect capital controls to follow.
- JP Morgan Gobbles up a Minimum of Over 31 Tons (Possibly up to 186 Tons!) of Physical Gold!
Back in August 2015, I noted that Goldman Sachs and HSBC had taken delivery of a huge tonnage of physical gold, probably purchased near the lows. Physical bars of gold are, by definition, a very long term investment in the yellow metal. At the time, the two banks were telling clients and others not to buy gold, even as they were loading up on it, themselves. Let’s fast forward… Starting in December 2015, JP Morgan began buying tremendous quantities of physical gold, as opposed to paper/electronic gold futures, forwards, ETF certificates etc. From December 1, 2015 to December 29, 2016, the big bank purchased and took physical delivery of over 31 metric tonnes worth of bars of the yellow metal for its house account at COMEX alone.
- Italy Urges Europe To Begin Censoring Free Speech On The Internet
First it was the US, then Germany blamed much of what is wrong in society on “fake news”, and not, say, a series of terrible decisions made by politicians. Now it is Italy's turn to call for an end to “fake news”, which in itself would not be troubling, however, the way Giovanni Pitruzzella, head of the Italian competition body, demands the European Union “cracks down” on what it would dub “fake news” is nothing short of a total crackdown on all free speech, and would give local governments free reign to silence any outlet that did not comply with the establishment propaganda. In an interview with the FT, Pitruzzella said the regulation of false information on the internet was best done by the state rather than by social media companies such as Facebook, an approach taken previously by Germany, which has demanded that Facebook end “hate speech” and has threatened to find the social network as much as €500K per “fake” post. Pitruzzella, head of the Italian competition body since 2011, said “EU countries should set up independent bodies — co-ordinated by Brussels and modeled on the system of antitrust agencies — which could quickly label fake news, remove it from circulation and impose fines if necessary.”
- Geoengineered Winter Weather Whiplash With Patented Climate Engineering Processes
Patented processes for artificially ice nucleating winter storms are owned by our government and have existed for many decades (the Chinese have openly stated they are “engineering snowstorms”). Weather warfare has been waged against populations all over the globe for decades, this includes the US population. Engineered winter weather events are now the norm. Though US media has done their best to sweep the subject of weather warfare under the rug in recent decades, there is a great deal of historical coverage. The US military has made clear the fact that they have long since considered climate change to be the greatest national security threat of all, are we to believe they would ask our permission before they would modify the weather and climate to suit their own agenda? Global geoengineering programs are not about the common good, they are not about saving the planet or humanity. The ongoing climate engineering insanity is about power, control, and attempting to mask the damage already done to our climate system while inflicting unimaginably more destruction to the climate and biosphere in the process.
- Putin mic drops Obama: Russia retaliates against US retaliations… by inviting families of US diplomats to New Year's party at Kremlin, wishes Obama and family all the best
The Russian president has rejected a suggestion of the foreign ministry to expel 35 American diplomats in response to a similar move by the US. He said Obama's act was designed to provoke a reaction, but Russia would not take the bait. “We reserve the right to retaliate, but we will not sink to the level of this irresponsible ‘kitchen' diplomacy. We will take further moves on restoring Russian-American relations based on the policies that the administration of President-elect Donald Trump adopts,” Russian President Vladimir Putin said in a statement published by the Kremlin website. Putin said that, unlike the Obama administration, Russia will not target foreign diplomats and their families days before New Year's celebrations. “We will not forbid families and children from spending the New Year's holidays at the places they are used to. Moreover, I invite the children of all American diplomats with accreditation in Russia to New Year's and Christmas festivities in the Kremlin,” the Russian president said.
- Trump praises Putin for holding back in U.S.-Russia spy dispute
U.S. President-elect Donald Trump on Friday praised Russian President Vladimir Putin for refraining from retaliation in a dispute over spying and cyber attacks, in another sign that the Republican plans to patch up badly frayed relations with Moscow. Putin earlier on Friday said he would not hit back for the U.S. expulsion of 35 suspected Russian spies by President Barack Obama, at least until Trump takes office on Jan. 20. “Great move on delay (by V. Putin) – I always knew he was very smart!” Trump wrote on Twitter from Florida, where he is on vacation.
- Why Lew Rockwell is Optimistic the Drug War Will End
Look to the war on drugs to understand why the United States has become “a prison state,” says Lew Rockwell in a new video interview with Future of Freedom Foundation President Jacob Hornberger. And, says Rockwell, look to educational efforts and state governments’ “nullification” of US drug laws for indications why drug prohibition will end. While Rockwell notes there are powerful interests fighting to perpetuate the war on drugs, Rockwell also declares in the interview his optimism that educational efforts will help increase public support for ending drug prohibition. Pointing to states “nullifying” US government anti-drug laws through actions including medical and recreational marijuana legalization, Rockwell says “we have every reason to be optimistic” that the drug war “will eventually come to an end.”
- Two of the world’s most evil people – Bill Gates and George Soros – behind Facebook’s news censorship agenda
If there’s one thing the political Left hates more than anything else it’s an honest, open debate over ideals. Authoritarian to the core, Leftists shun debate and discussion because deep down, they know they cannot defend their positions—more and bigger centralized government, top-down government-imposed “solutions,” big expensive bureaucracy, limited freedom and individualism. So what does the Left seek to do instead? It seeks to shut down debate, shout down opponents, wall off competing ideas and censor anyone who doesn’t toe the liberal line. That’s what this business of rooting out so-called “fake news” by Facebook, Google, and other social media giants is really all about. After GOP presidential nominee Donald J. Trump mopped the floor with the Left’s anointed candidate, four-time loser Hillary Clinton, the insane Left began blaming “fake news” from alternative media sources (like ours) who dared to publish the truth about what Clinton stood for and how she, not Trump, was the one “unfit” for the Oval Office.
- Bank Bailout Balloons, Tab for Italian Banking Crisis Soars
Over the Christmas holidays, when no one was supposed to pay attention, and when the markets were closed, the bailout costs of Monte dei Paschi di Siena, the third largest bank in Italy, and the center of the Italian banking crisis, suddenly jumped by 75% to €8.8 billion ($9.2 billion)! Just how immense the black hole inside of a bank really is remains unknown until the bank collapses entirely and the pieces are sorted out. No one wants to know, especially not bank regulators. But when banks are teetering, and a bank bailout, or rather a bondholder bailout is being discussed, the aspects of that hole begin to emerge, and the hole keeps getting bigger the longer someone looks at it. Earlier this year, the ECB’s stress tests of 51 large European banks determined that Monte dei Paschi was the shakiest among them. The ECB gave the bank until the end of 2016 to raise enough capital or contemplate the prospect of being wound down.
- Trump Inherits Political and Economic Titanic-Warren Pollock
Analyst and financial expert Warren Pollock says Donald Trump has been dealt a horrendous hand when it comes to the political environment and the economy. Pollock explains, “Trump inherited the Titanic or a nuclear reactor that is about to explode. As he tries to fix this giant mess, he’s bound to upset the apple cart. The economy is fragile. The society is fragile. If he touches anything, something is liable to break somewhere. People want Obama Care removed immediately. They want to see the swamp drained immediately. I think these are things he believes in, and he is certainly a pragmatic manager compared to Hillary Clinton, who would have been an utter disaster for everyone in this country. . . . The problem for Trump, besides the piranhas that are circling him, both the Democrats and Republicans, is that he has inherited the Titanic, which means he can cause us to sink faster simply by touching something. That’s why Obama Care can’t be turned off overnight. That’s why he can’t impose massive tariffs on China overnight. Whatever he does will cause tremendous dislocations. Any corrective action that he takes will have unintended consequences, and he understands that. He’s a pragmatist, and I think he is prepared to deal with this. All the people he has chosen, all have differing opinions, but they are all excellent in one way or another.”
- Those That Bless Israel Will Be Blessed And Those That Curse Israel Will Be Cursed – So Now America Is Greatly Cursed
There are consequences for our actions, and on a national level we are going to experience tremendous consequences for the very foolish decisions of our national leaders. When Barack Obama decided to betray Israel at the United Nations, he made the most fateful decision of his entire presidency. Because the Scriptures tell us that those that curse Israel will be cursed, and so America is now under a great curse due to what Barack Obama has done. All throughout the Scriptures there are equations. What I mean by that is there are many passages that tell us that if we do things God’s way we will get one result, and if we do things another way we will get another result. One of my favorite examples of this is Matthew 5:19. I have been on both sides of that particular equation, and being on God’s side of the equation is much better by far. As far as Israel is concerned, all throughout the Bible we see the principle that those that bless Israel are blessed and those that curse Israel are cursed. The very first place where we find this is in Genesis chapter 12 where God makes his famous promise to Abraham.
- John Kerry Unveils His Plan For A Palestinian State Based Upon 1967 Borders With East Jerusalem As The Capital
Barack Obama stabbed Israel in the back on Friday, and now John Kerry has slapped Israel in the face just five days later. In a shameful speech that lasted for 71 dreadful minutes, U.S. Secretary of State John Kerry laid out his plan for peace in the Middle East on Wednesday. His six-part plan is being welcomed warmly by the Palestinians, but it has further infuriated the Israelis. Kerry claims that his plan reflects the emerging global consensus as to what a “final solution” will look like, and now we will wait to see what the 70 nations that will be gathering in France to discuss the Israeli-Palestinian conflict on January 15th will do. There is a great deal of concern that the principles agreed upon at that conference will form the basis for a UN Security Council resolution that will be rushed to a vote before President-elect Donald Trump is inaugurated on January 20th. The core of Kerry’s plan is the division of the land of Israel into two states. The borders between Israel and “Palestine” would be based upon the 1967 ceasefire lines with mutually agreed upon land swaps.
- 100% Of US Warming Is Due To NOAA Data Tampering
Climate Central just ran this piece, which the Washington Post picked up on. They claimed the US was “overwhelmingly hot” in 2016, and temperatures have risen 1,5°F since the 19th century. The first problem with their analysis is that the US had very little hot weather in 2016. The percentage of hot days was below average, and ranked 80th since 1895. Only 4.4% of days were over 95°F, compared with the long term average of 4.9%. Climate Central is conflating mild temperatures with hot ones. They also claim US temperatures rose 1.5°F since the 19th century, which is what NOAA shows. The problem with the NOAA graph is that it is fake data. NOAA creates the warming trend by altering the data. The NOAA raw data shows no warming over the past century. The adjustments being made are almost exactly 1.5°F, which is the claimed warming in the article.
- Circle January 15th: 70 Nations Will Gather In Paris To Discuss The Creation Of A Palestinian State
On January 15th, representatives from 70 different countries will gather in Paris, France for an unprecedented global conference. The stated goal of this conference is to promote a “two-state solution” as the way that lasting peace will be brought to the Middle East. In Israel, there is a tremendous amount of concern that whatever is agreed upon at this conference will immediately be used as the basis for a UN Security Council resolution that would permanently divide the land of Israel and create a Palestinian state. But things would have to move very rapidly in order for that to happen, because Barack Obama’s time in the White House comes to an end on January 20th, and Donald Trump has already made it exceedingly clear that he would never support such a resolution. The UN Security Council resolution that was passed on Friday was one of the most significant events that we have witnessed in decades. Resolution 2334 made all Israeli settlements in the West Bank and in East Jerusalem illegal, it set the 1967 ceasefire lines as the border between the Israelis and the Palestinians, and it granted every single inch of East Jerusalem to the Palestinians. But it stopped short of giving official UN Security Council recognition to a Palestinian state, and that is why this conference on January 15th is so important.
- Pastor Lindsey Williams introduces Pastor David Bowen – December 29, 2016
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.
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).
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).
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.
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.”
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…